For this post, I will be sharing three reasons why I signed up Prudential PRUsaver plan.
Earlier on, I had mentioned that one of the best financial decisions I had made in my younger days is to sign up for an insurance plan.
In my case, I signed up for the Prudential PRUlink assurance plan.
About 5 years after I signed up for my Prudential Prulink plan, I made another smart financial move. That was to top up my Prudential PRUlink through PRUsaver.
In case you have no idea what is PRUsaver, it is an investment top-up rider that can be attached to the PRUlink assurance plan.
Before I decided to top up for PRUsaver, I met up with my agent and asked for all the options that I had.
Earlier on, I had shared with her that I wish to boost my saving plan.
I remember it took me quite some time to consider some of the investment tools available under PRUlink assurance. Namely PRUlady, PRUcash and PRUsaver.
3 reasons why I signed up Prudential PRUsaver
My decision to sign up PRUsaver instead of PRUlady or PRUcash is based on the 3 reasons below:
1. Prudential PRUsaver to boost my saving plan
I learned that one of the best and safer ways to boost my saving is through a unit trust or fund investment.
So, with PRUsaver, I choose to invest in equity funds with the hope of higher returns.
Why I said safer is because there are many other alternatives to boost one’s savings. For example, stock trading.
Since at this moment, I am not an expert in stock trading, so unit trust or fund investment would suit me better.
2. To increase my protection
One of the features I love about PRUsaver is ‘Waiver of Premium‘. This feature gives me peace of mind.
This means, in case of any life mishap, there is no need to pay for future premiums and I still get the protection.
But of course, I am aware that my insurer has the right to change the terms and conditions of the coverage.
3. Reasonable and flexible investment amount offered by Prudential PRUsaver
If possible, I would love to invest as much as I can.
But at that time, I was only able to allocate an additional top-up of RM100 per month.
So, PRUsaver is just the right tool for me.
In terms of fund allocation, 90% of my PRUlink assurance and PRUsaver fund is allocated to equity funds and the other 10% is under the bond fund.
I choose equity as my priority because when I started my investment, I was in my twenties.
In other words, I have a longer time frame to grow my investment.
Final thoughts
Currently, my plan is to continue to save and invest in PRUsaver.
I believe the power of compounding interesting will create magic for my PRUlink and PRUsaver over the long run.
Of course, I must take the responsibility to monitor my fund performance too. And now I can easily monitor my fund details through Prudential PRUaccess plus.
How about you? Have you heard of the Prudential PRUsaver plan? Feel free to share your comment below.
Read more: Why many Malaysian are still without insurance coverage?
photo credit: marcoverch Kleines, weißes Sparschweinchen via photopin (license)
Great Eastern Life and other insurance companies are giving the same advantages as the 3 points you mentioned. 🙂
Hi Lionel, thank you for your comment. I believe, generally, most insurance companies in Malaysia have some sort of similar plan. I took up the plan to complement my existing policy from the same provider.