Prudential Myanmar Introduces New Life Insurance Plan to Help People Save Money and Achieve Their Life Goals

Yangon, Myanmar, 13 October 2022 – Prudential Myanmar Life Insurance Limited (Prudential Myanmar) introduces PRUSaver, an insurance product which combines life insurance protection with a savings plan to help people achieve their life goals.

Various PRUSaver plans are available to start saving for future life milestones such as marriage, having children, renovating the home or for major purchases such as a dream car, home or vacation with loved ones. Customers can plan their savings requirements, from a minimum of MMK 1 million (MMK 1,000,000) to a maximum of MMK 50 million (MMK 50,000,000), across insurance policy periods of five, seven or 10 years.

There is flexibility for customers to set aside savings on a monthly, quarterly, bi-annual or annual basis. A one-time payout of the full Sum Insured, or savings amount, is disbursed at the end of the insurance policy period. PRUSaver customers also enjoy life insurance protection benefits during the policy period.

Mr. Naing Aye Lynn, CEO of Prudential Myanmar, said, “Our consumer insights reveal that short-term savings products, coupled with life insurance protection, are ideal to support people as they journey through life. With the introduction of PRUSaver, we are excited to further deliver on our goal of helping people in Myanmar get the most out of life. We will be assisting our customers to ensure they achieve their life goals, while at the same time providing them with life insurance protection to secure their financial future."

Saving money in a systematic manner can help one avoid and overcome obstacles in life. More importantly, saving money empowers the individual to prepare for key milestones in life, including to build a nest egg for their children. The Prudential Myanmar website offers a calculator tool to help customers assess the savings amount required for their desired life goal.

Should an unfortunate event occur causing death or total and permanent disability to the policyholder, the beneficiary of the policy will receive a one-time payout. This guarantees that the loved ones of the policyholder will receive the money savings that were made by the policyholder, regardless of the duration of the insurance policy period that was fulfilled.

PRUSaver insurance payments are tax deductible, which means that customers save even more over the insurance policy period. For more information about tax deductions, customers can use the tax calculator tool on the Prudential Myanmar website.

To promote the launch of PRUSaver, Prudential Myanmar will be airing a video series on its social media channels and other digital platforms to share the message that it is never too early to start saving money to secure a better future for yourself or your family.

To learn more about PRUSaver life insurance protection and savings plans, visit https://www.prudential.com.mm/en/all-products/prusaver/. For enquiries and customer support, please call Prudential Myanmar’s hotline: +95 977 011 0010.

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For media queries, please contact:

Chilli Agency (for Prudential Myanmar Life Insurance)

Ms. May Mya Thu                                     Ms. Cho Wutt Ye

Mobile: +959 97326 7579                        Mobile: +959 79585 0175

Email: maymyathu@chilli.agency              Email: chowuttye@chilli.agency

Prudential Myanmar Life Insurance

Ms. Hsint Sanda, Senior Manager - Content Marketing & Communications

Mobile: +95 9 42 535 4348           

Email: hsint.sanda@prudential.com.mm

About Prudential Myanmar Life Insurance

Prudential Myanmar Life Insurance (Prudential Myanmar) is a wholly owned life insurance operation of Prudential plc, which provides life and health insurance and asset management, with a focus on Asia and Africa. In November 2019, Prudential was granted a life insurance licence from the Ministry of Planning and Finance (MoPF) of Myanmar to offer life insurance products and solutions to the people of Myanmar to meet their growing long-term protection and savings needs.

Prudential Myanmar is focused on supporting national efforts to raise life insurance penetration and financial inclusion in the country. With its technology-enabled approach, Prudential Myanmar is committed to reach as many people as possible, and to ensure they enjoy an easy, simple and convenient experience. 

For more information, visit Prudential Myanmar’s website: www.prudential.com.mm or Facebook page: www.facebook.com/PrudentialMyanmarLifeInsurance 

About Prudential plc

Prudential plc provides life and health insurance and asset management in 23 markets across Asia and Africa. The business helps people get the most out of life, by making healthcare affordable and accessible and by promoting financial inclusion. Prudential protects people’s wealth, helps them grow their assets, and empowers them to save for their goals. The business has more than 19 million life customers and has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts. It is also a constituent of the Hang Seng Composite Index.

Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom. https://www.prudentialplc.com/