Prudential has just relaunched another tranche of their single premium 5- year non-participating endowment plan – PruInvestor Guaranteed Plus. The previous tranche was in May this year.
Details of this plan are as follows:
Minimum premium : $5000
Payment mode : Cash or SRS
Eligibility : Available for those between 1 – 70 years of age for premium payment by cash, and 18 – 70 years of age for premium payment using SRS account.
Term : 5 years
Returns : 2.5% p.a. (an investment of $10,000 will grow to $11314 at maturity)
There is no health underwriting or declaration required but there is a 105% life insurance protection on the investment amount.
The plan will close on 13th November or when a total of $60-80 million is received, whichever is earlier.