18/01/2024
What to do when you have completed payment of your premium as stated in your policy contract:
Once you confirm the absence of any due date in your personal access or upon notification from your agent that your policy is fully paid, inquire with the head office through email, the hotline, or by visiting any PruLife UK office to ascertain the date of issuance for your certificate of completion.
*A certificate of completion is a document verifying your fulfillment of premium payment responsibilities.
Schedule a meeting with your agent to discuss your next steps or future plans. Your agent should provide options, whether to withdraw your fund value and permanently close your policy or to continue the policy, maintaining and monitoring the fund value to keep insurance benefits active.
A reminder for policyholders, especially those with Variable Universal Life (VUL) plans: Despite the investment aspect, you are purchasing an insurance product. The amount paid may not necessarily represent the total value accrued after the payment period, which could be equal, more, or less.
Define your goals with your agent carefully, as the policy remains active, and your funds will be used to cover insurance fees to keep it in force.
Remember, insurance agents are always advocates of adequate coverage. We believe that a life insurance product is the best partner for growing assets, serving to protect yourself โ the ultimate asset. Our commitment to clients is lifelong, extending beyond any financial gains. Choosing a lifetime partner in the insurance industry, like us, requires careful consideration. With my 5 years in the industry, approaching 6, I've seen clients complete their payment periods and are now discussing the next phase of our plan. FYI, we don't receive any additional benefits; our commitment to our clients is for a lifetime. Choose a lifetime partner wisely.
