Pru Life UK has launched an investment-linked life insurance fund dubbed “PRULink Cash Flow Fund Plus,” which promises up to 6 percent potential payout annually or 1.5 percent quarterly.
The life insurer touts its latest offering as a new way to secure potential regular source of cash and guaranteed life protection, and is available for a limited offer period to customers with moderate to aggressive risk appetite and medium-to-long-term financial goals.
“We are confident that the combination of our 33,000-strong digitally empowered agency force, digital assets, and like-minded partner ecosystems will further enable us to help many more Filipino families live healthier and wealthier,” Pru Life UK president and chief executive Eng Teng Wong said in a statement.
PRULink Cash Flow Fund Plus is invested in a diversified portfolio consisting mainly of US high-yield bonds and Asian bonds that provide higher coupons or income, allocated by the fund manager within the range of 25 percent to 65 percent.
The fund is managed by Eastspring Investments, which has been managing PRULink Funds since 2002.
On top of global bonds, up to 20 percent of the fund is invested in global stocks. This portion is seen to be another source of income in the form of dividends and is usually an indicator that the company has a sustainable record of profitability and financial strength.
The new product is exclusively for Pru Life UK customers who will avail of a new peso-denominated PRUMillionaire or PRULink Investor Account Plus for a limited time.
PRULink Cash Flow Fund Plus takes off from the successful PRULink Cash Flow Fund US dollar and peso-hedged share classes, which were introduced to the market in 2014 and 2018, respectively.
The company said that, since launch, these funds have consistently hit their target of 4 percent payout annually.
Mark Anthony Valino, Pru Life UK vice president for investment marketing, said PRULink Cash Flow Fund Plus was a new fund option, especially for those looking for capital growth and potential regular source of cash, amid these volatile times.
“As we all celebrate this holiday season, we encourage everyone to be wiser in spending their hard-earned money,” Valino said.