By Silvia Nyambura
Prudential Assurance Uganda, a fully owned subsidiary of Prudential plc continues its mission to provide flexible and innovative products that promote the financial security among Ugandan families with the launch of Pru Dollar.
The product allows the customer to make monthly payments in U.S dollars for a period of 8-15 years. Whether a customer is planning for his or her child’s education, saving for a home or simply making sure their loved ones are protected, Pru Dollar hedges their savings against the risk of currency devaluation thereby preserving the value of their policy proceeds upon maturity.
Speaking at the launch in the week ending 12th May 2017, Prudential Uganda CEO Arjun Mallik said, “This product gives customers peace of mind that their loved ones are protected. If the customer passes away or gets permanently disabled, we will pay a 50% lump-sum to the beneficiary and take over payments for the remaining period. In addition, Prudential will pay out another 100% of the maturity benefit at the end of the agreed period. If no claimable event occurs, the guaranteed lump-sum (with any accrued bonuses) is paid to the insured at maturity.
