PRU-MODERN is a new generation of solution designed to provide customers with simple, flexible and future-proof protection benefits against unknown diseases. — Photo courtesy of Prudential

HCM CITY — Prudential Vietnam Insurance Co., Ltd. on August 2 launched PRU-MODERN, a solution with a breakthrough approach to protect customers against critical illnesses based on the severity of system and organ functions beyond listed diseases.

PRU-MODERN is a new generation of solution designed to provide customers with simple, flexible and future-proof protection benefits against unknown diseases.

Its highlights are that it is a simplified protection solution based on the severity of systems and organ functions instead of complex condition list, has affordable prices, and offers total insurance benefits of up to 255 per cent of sum assured and discounts on premium for the main life assured if there is an additional life assured.

After more than two years, societies and health authorities worldwide are still mitigating the impacts of the COVID-19 pandemic.

The emergence of many new virus variants and other unknown diseases have underscored the further need for developing solutions to protect consumers from uncertain health events and financial shocks.

Phương Tiến Minh, CEO of Prudential Vietnam, said: "People have become more cognisant of the importance of life and health insurance and its benefits as we continue to face COVID-19. Prudential always maintains a steadfast focus on customer-centricity and keeps abreast with our customers in product development.

“With a deep understanding of how new diseases can affect the lives and livelihoods of consumers, we are proud to introduce a breakthrough term life solution to protect customers from unknown diseases - PRU-MODERN.

“This product has features which bring a new concept of insurance to the market with our severity-based approach, making protection more accessible and affordable for consumers in Vietnam."

With PRU-MODERN, customers are covered with total potential benefit of up to 255 per cent of the sum assured. — Photo courtesy of Prudential

With an entirely new approach, PRU-MODERN is designed to protect customers beyond listed and known diseases. Based on the degree of illness conditions of six organs and body functional systems - the neurological, respiratory, cardiovascular, hepatic, sensory, and renal systems and liver and kidney functioning - customers can have access to more comprehensive and affordable protection solutions.

The solution is also combined with protection against three common critical illnesses - cancer, stroke and heart attack - to meet customers’ diverse protection needs.

When a customer’s illness is diagnosed to be in the severe stage, Prudential will pay up to 100 per cent of the sum assured based on the policy.

The customer can also be paid an additional 5 per cent of the sum assured if he/she undergoes any moderate or severe surgery as defined in the policy, which will be paid only one time during the term of the insurance policy.

According to Prudential’s data for Việt Nam last year, 80 per cent of total critical illness claims payments were for the three most common ones: cancer, stroke and heart attack.

Thus, PRU-MODERN extends its comprehensive, severity-based protection with additional benefits (50 per cent of the sum assured, paid only one time during the term of the insurance policy) to support customers diagnosed with one of these three most common critical illnesses.

In the unfortunate event of a customer’s death, Prudential will pay 100 per cent of the sum assured to help his/her family cope with the difficult period.

Thus, with PRU-MODERN, customers are covered with total potential benefit of up to 255 per cent of the sum assured.

PRU-MODERN exemplifies Prudential’s commitment to optimise the insurance customer’s experience. This product offers flexible options for customers to extend this future-proof protection against unforeseen diseases to their family members.

Customers signing up for this policy with additional family members can enjoy premium discounts. This solution is available to customers aged 18 to 69 and 30 days old to 65 years old for family members, with full protection until customers reach 85. — VNS