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Manage Your Life Insurance Policy

A step-by-step guide for you to update and change your life insurance plan.

Which policy change do you wish to make?

Policy Loaning

For customers holding Prudential life insurance policy, policy loan can be processed via PRUConnect or by submitting documents to the Company for processing. No guarantor is required and customers shall continue to be entitled to all rights under the policy.

 

Basic details on policy loan application channels.

  • Apply via PRUConnect : convenient, easy and fast. Financial documents are not required.
  • Contact Prudential Life Assurance Head Office
    Mitrtown Office Tower, 30th floor, Monday to Friday (except for public holidays) from 8:30 – 17:00 hours. Or send documents by post to 944 Mitrtown Office Tower, 10th floor, 29-31, Rama 4 Road, Wangmai Subdistrict, Pathumwan District, Bangkok 10330

 

Note:

  • In case of processing via PRUConnect, the processing period is within 2 business days.
  • In case of processing by sending documents via post or submitting in person at the head office, the processing period is within 5 business days after the Company has received all the documents.

 

More Information

Cancellation within Free Look Period

Terms & Conditions:

The Insured has a right to cancel the insurance policy within a specified period of time in accordance with General Provisions of an ordinary life insurance policy, Section 5, “The Rights to Cancel a Policy”, starting from the date the Insured receives the policy (Free Look Period). If the Insured has already exercised his/her rights in making claims from this policy, he/she shall not be entitled to cancel this policy. 

Required Documents:

1. Amendment Requisition Form, Policy Cancellation Download
2. A copy of Identification Card, certified true copy by the Insured
Juvenile : A copy of the juvenile's Identification Card and parents or legal representative, certified true copy by the Insured
3. Original policy booklet
(In the case that the original policy booklet was lost, a copy of Police Report is required.)

Incase your request for amendments to use the rights under the policy and has never confirmed your identity with the company before. The company will send an SMS with a link for you to verify your identity via electronic in accordance with relevant laws and regulations before doing so to you further

Turn-around Time:

Approximately 7 working days after the company receives the documents completely.

Policy Surrender

Terms & Conditions:

The Insured has a right to terminate the policy while the policy is still in force, by exercising a policy surrender and obtaining the Cash Surrender Value in accordance with terms and conditions prescribed in the life insurance policy.  

Required Documents:

1. Exercise of Non-Forfeiture Options Requisition Form Download
(Please find an advice from the Office of Insurance Commission regarding surrendering an existing policy to buy a new one, at the back page of the Exercise of Non-Forfeiture Options Requisition Form)
2. A copy of Identification Card, certified true copy by the Insured
Juvenile : A copy of the juvenile's Identification Card and parents or legal representative, certified true copy by the Insured
3. Original policy booklet
(In the case that the original policy booklet was lost, a copy of Police Report is required.)
4. A copy of bank account book, certified true copy by the Insured.

Incase your request for amendments to use the rights under the policy and has never confirmed your identity with the company before. The company will send an SMS with a link for you to verify your identity via electronic in accordance with relevant laws and regulations before doing so to you further

Turn-around Time:

Approximately 20 working days after the company receives the documents completely.

Reduced Paid Up Insurance (RPU)/ Extended Term Insurance (ETI)

Terms & Conditions:

In the event that the policy has Cash Surrender Value, and while the policy is in force, if the Insured decides not to pay premiums any longer, but still needs to keep coverage in force, he/she can request to convert the policy into a reduced paid-up policy or an extended term insurance.

Reduced Paid-up Insurance

Extended Term Insurance

Term of coverage will be the same as the previous one

Term of coverage will be in accordance with the extended term insurance, which is stated in the policy

The sum assured will be reduced, as given in the table for a reduced paid-up insurance

The sum assured remains the same

In the event that the Insured is still alive at maturity, the company will pay the maturity benefit as stated in the reduced paid-up policy, or

In the event that the Insured dies during the policy period, the company will pay death benefit, as stated in the reduced paid-up policy, to the beneficiary

In the event the Insured is still alive at the end of the extended term, the company will pay the maturity benefit as given in the Policy Schedule

In the event that the Insured dies within the extended term, the Company will pay the insurance amount at time of policy conversion to the beneficiary


Required Documents:

1. Amendment Requisition Form, Exercise of Non-forfeiture Options (ETI/RPU) Download
2. A copy of Identification Card, certified true copy by the Insured

Remark: If the Insured has any outstanding debts under the policy, the company will deduct this amount from the Cash Surrender Value before making calculations for such changes.

Turn-around Time:

Approximately 7 working days after the company received the documents completely.

Add/Change Rider

Terms & Conditions:

For Ordinary Life policy, the Insured can buy additional riders, cancel or change existing riders.

Required Documents:

1. Amendment Requisition Form, Add/Change Rider Download
2. A copy of Identification Card, certified true copy by the Insured
3. Medical examination report (according to the underwriting guideline)

Remark:

1. Premium payment is required for buying additional riders.
2. The change will be complete when the company approves and issues the endorsement attached to the policy, and it will take effect from the next premium due onward.

Turn-around Time:

Approximately 5 working days after the company receives the documents completely.

Decrease Sum Assured

Terms & Conditions:

To decrease sum assured, the Insured has to pay 150 Baht for the processing fee.

Required Document:

1. Amendment Requisition Form, Decrease Sum Assured Download
2. A copy of Identification Card, certified true copy by the Insured

Remark: The change will be complete when the company approves and issues the endorsement attached to the policy, and it will take effect from the next premium due onward.

Turn-around Time:

Approximately 5 working days after the company receives the documents completely.

Change Of Information

Terms & Conditions:

- Change of personal information: name, surname, address and telephone number

- Change of information regarding beneficiary and payor

- Change of mode of premium payment (frequency)

- Request for reprint of policy booklet (to replace the lost one)

- Receiving policy benefits

Required Documents:

1. Amendment Requisition Form Download
2. A copy of Identification Card, certified true copy by the Insured

Turn-around Time:

Approximately 5 working days after the company receives the documents completely.

Online checking of policy information

You can check the policy information online in 3 channels as follows:
1. PRUPolicy website
2. PRUConnect on LINE Official Account
3. PRUServices @PULSE via PULSE application

Reinstatement

Terms & Conditions:

For Ordinary Life policy that has been lapsed for no longer than 5 years since the inception of lapse, policyholder can request to reinstate the policy by the following methods.

Method 1: Pay all outstanding premiums with a compound interest, at the rate higher than the rate used to calculate the premiums by 2% per year

Method 2: Defer the effective date to the same period that the policy had lapsed. In this case, the Insured shall pay a premium calculated with the new rate to reflect the age of the Insured for the new effective date, plus paying the difference (if any)

Required Documents:

1. Health Declaration Requisition Form Download
2. A copy of Identification Card, certified true copy by the Insured
3. Medical examination report, Anti-HIV test result (as required by reinstatement underwriting)
4. Medical record (if any)

 Turn-around time :

Approximately 5 working days after the company receives the documents completely.

Payout under the policy

9.1 Condition Bonus Payout

  • Terms & Conditions

  1. Policy must be in force

  2. Payment shall be made on the policy anniversary date as indicated in the policy e.g. paying at the end of Policy Year 3, 6 , or 9 etc.

  3. If there are any outstanding debts, Company shall deduct the amount owed plus interest (if any) before making a payout

  • Turnaround Time

Company shall pay condition bonus within 15 days from the policy anniversary date, by mailing a cheque to the Insured’s given address. In case that the Insured opts for money transfer, he/she must submit a copy of bank account book, certified true copy, as an additional supporting document.

9.2 Maturity Benefit and Dividend Payout

  • Terms & Conditions

Maturity benefit, plus dividend* shall be paid on the maturity date (The Insured must be alive on the maturity date).

Remark: *Dividend rate for Participating Policy shall be announced on the Company’s website.

  • Turnaround Time

Company shall pay Maturity benefit/dividend within 15 days from the maturity date, by mailing a cheque to the Insured’s given address. In case that the Insured opts for money transfer, he/she must submit a copy of bank account book, certified true copy, as an additional supporting document.

9.3 Retirement Benefit Payout

  • Terms & Conditions

1st Period: Company shall pay an annuity worth 15% of the sum assured if the Insured is alive on each policy anniversary date, for the anniversary date that the Insured reaches Age 60-74 years old, based on the following conditions:

  1. Policy must be in force

  2. If the annuity amount to be received each year is less than 3,000 baht, Company shall pay the surrender value after deduction of the amount owed to the Insured, and it shall be deemed that the policy terminates immediately.

2nd Period: Upon proof of living by the Insured, Company shall pay an annuity worth 15% of the sum assured if the Insured is alive on each policy anniversary date, for the anniversary date that the Insured reached Age 75-85 years old.

  • Required documents

  1. Statement of proof of living and Request for Annuity Form, completed in full (Issue by Prudential Thailand)

  2. A copy of Insured’s ID card, certified true copy

  3. A copy of Insured’s household registration

  4. A copy of bank account book, certified true copy by the Insured