Group EssentialLife (SP)

  • Group EssentialLife (SP)Group EssentialLife (SP)

    Group EssentialLife (SP)

    A SINGLE PREMIUM NON-PARTICIPATING GROUP TERM LIFE INSURANCE PLAN that offers insurance protection benefit.

Overview

Ensure business continuity and shield your loved ones from any financial burden should any unfortunate event happens. 

Being a business owner or corporate personnel who has taken up financial facilities from bank, there is always a concern to ensure business continuity in the event of unforeseen circumstances happen to you. We are pleased to introduce Group EssentialLife (SP), a single premium non-participating group term life insurance plan that provides coverage for death and Total and Permanent Disability (TPD), so you can enjoy peace of mind today knowing that both your business and loved ones’ interests are safeguarded if the unexpected happens to you. 

You may choose 3 parties arrangement or 4 parties arrangement, depending on your needs and purpose.

 

4 parties arrangement3 parties arrangement

*This will be payable to Certificate Holder when there is no outstanding loan. If the death/TPD coverage exceeds any outstanding loan, the remaining amount will be payable to Certificate Holder after settling the outstanding loan with UOB Malaysia.

 

Let Group EssentialLife (SP) gives you a peace of mind while you focus on what’s important to you today.

Benefits Table

Basic Benefits Details
Death Benefit Basic Sum Assured shall be payable in the event of death of the Insured Member during the certificate term.
Total and Permanent Disability (TPD) Benefit Basic Sum Assured shall be payable upon Insured Member suffering from TPD prior to the Certificate Anniversary of age 65 or expiry of certificate, whichever is earlier.

 

Optional riders Details
Refund Of Premium (ROP) – 100% This optional rider pays 100% of total single premium paid at the end of the certificate term provided that no claim for Basic Benefits has been paid during the certificate term.
Refund Of Premium (ROP) – 106% This optional rider pays 106% of total single premium paid at the end of the certificate term provided that no claim for Basic Benefits has been paid during the certificate term.

This optional rider is only attachable to the Group EssentialLife (SP) certificate with certificate term of 10 years and above.

You can only select either one of the ROP riders depending on your financial needs.

 

Eligibility

  Adult
Entry ANB 18 - 60

Age reference shall be on the basis of Age Next Birthday (ANB).

 

Enrolment

Visit any UOB Malaysia Branch nearest to you.

Disclaimer

Underwritten by:

Prudential

The above plans are underwritten by Prudential Assurance Malaysia Berhad (107655-U). All claims and liabilities arising from the policies should be made with the company.

Prudential Assurance Malaysia Berhad is a licensed insurance company and is regulated by Bank Negara Malaysia. Prudential Assurance Malaysia Berhad is responsible for the products and benefits offered by them, as well as any representation made in any of their marketing materials including United Overseas Bank (Malaysia) Berhad’s marketing material for the products offered by Prudential Assurance Malaysia Berhad.

This content contains only a brief description of the product and is not exhaustive. You are advised to visit any of our branches and to refer to Product Brochure, Product Disclosure Sheet, Product/Sales Illustration and Fund Fact Sheet(s) (if any) before purchasing a policy, and to refer to the terms and conditions in the policy contract for details of the features and benefits under the policy.

Buying life insurance policy is a long-term financial commitment. You should assess the affordability and suitability of the product (including supplementary benefits) that best suits your personal circumstances in relation to your financial goals and risk appetite. To achieve that, we recommend that you speak to your Prudential Representative or UOB Malaysia representative who will perform a needs analysis and assist you in making an informed decision.

Prudential Assurance Malaysia Berhad (PAMB) is a member of Perbadanan Insurans Deposit Malaysia (PIDM). As a member of PIDM, some of the benefits insured under the insurance policies offered by PAMB are protected against loss of part or all of the insurance benefits by PIDM, in the unlikely event of an insurer member failure. For further details of the protection limits and the scope of coverage, please obtain a PIDM information brochure from PAMB or visit the PIDM website or call the PIDM toll free line (1-800-88-1266).