Frequently asked questions

Can foreigners buy Pru Life UK cover?

Foreign nationals who live in the Philippines can apply. Under Insurance Commission rules, Philippine insurers may only insure people and risks situated in the Philippines, so the application has to be made while you are here. Pru Life UK asks for proof of identity and residence, such as your passport and ACR I-Card, and underwrites each application individually. I'll confirm the details for your situation.

Which currencies are plans available in?

Pru Life UK plans are offered in Philippine pesos, and some in US dollars, for example the PRULink Dollar Cash Flow Fund Plus. Premiums and benefits are paid in the plan's currency, so exchange-rate movements matter if your income or future costs are in another currency. Which currencies a particular plan allows is set out in its product documents; I'll confirm the details for your plan.

What happens to my policy if I leave the Philippines?

It depends on your plan's terms. The points to check are whether cover continues while you live overseas, how you will pay premiums from abroad, and how claims are handled outside the Philippines. Please tell me before you move; I'll confirm the details for your plan.

VUL or term insurance: what is the difference?

Term insurance pays a death benefit if you die within a set period, and nothing if you outlive it. It is generally the lower-cost way to buy a large amount of cover for a fixed number of years.

A variable universal life (VUL) plan combines life cover with PRULink funds. Part of each premium pays for insurance and charges; the rest buys fund units whose value rises and falls. Fund values are not guaranteed, and you could get back less than you paid in.

Neither is better in general. It depends on how long you need cover, your budget, and whether you want life cover and a fund-linked element in one plan.

What is the free-look period?

After you receive your policy, you have a free-look period to review it. On many Pru Life UK plans it is 15 days from the date you receive the policy, and if you cancel within that time the premium you paid is refunded, as Pru Life UK sets out on its product pages. The exact period and refund terms are in your policy; I'll confirm the details for your plan.

What is the grace period?

If a premium is not paid on its due date, Pru Life UK's standard grace period is 31 days, during which your cover continues. If the premium is still unpaid after that, the policy can lapse, and what happens next depends on the plan. I'll confirm the details for your plan.

What are surrender charges?

Surrendering means ending a policy early and taking whatever cash or fund value it has. On investment-linked plans, surrender charges can apply in the early policy years, and on any plan the amount you receive in the first years can be much lower than the premiums you paid. The charges and values for each year are in your sales illustration and contract, and I go through them with you before you apply.

How do I make a claim?

Tell me first and I will help you gather the documents. Claims are filed with Pru Life UK, by email to makeaclaim@prulifeuk.com.ph, through the Pru Life UK Contact Center on (02) 8887 5433 or 1-800-10-7785465 (PLDT domestic toll-free), or at a Pru Life UK customer centre. The documents needed depend on the type of claim and are listed on Pru Life UK's claims page.

I have family and assets in more than one country. Can you help?

Yes, for the Philippine side of things. I can help you list what you hold and where, see how your life and health cover fit together, and explain which Pru Life UK plans might be worth discussing. I don't give legal or tax advice, in the Philippines or anywhere else, so for wills, residence and tax I recommend independent advisers in each country. With your permission, I'm happy to work alongside them.

Can I plan for school or university fees paid in another currency?

You can plan for it, but no plan removes currency risk. Pru Life UK plans are offered in Philippine pesos, and some in US dollars; premiums and benefits are paid in the plan's currency. Which currency makes sense depends on where the fees will be paid and where your income comes from. The Education funding page sets out the questions to ask; I'll confirm the details for your plan.

How can life insurance help when an estate is being settled?

Settling an estate can take months, and property or shares may not be available to sell quickly. Life insurance pays the beneficiaries named in the policy once Pru Life UK approves the claim, which can give a family cash during that time. It does not replace a will. For wills, estate settlement and tax, please take independent legal and tax advice in the Philippines and, where relevant, your home country. More on the Estate & legacy page.

Can life insurance protect my business?

It can provide cash if an owner or key person dies, for example to help the business carry on, repay a loan, or let the surviving owners buy a share from the family. Whether a business can own a policy, and for what purpose, depends on Pru Life UK's rules and underwriting, and agreements between owners should be drafted by a lawyer. See Business protection.

Do Pru Life UK plans cover medical evacuation?

The Pru Life UK health plans listed on this site are cash-benefit plans: they pay set amounts for hospital stays or on diagnosis of a covered illness. None of them is a medical evacuation, air ambulance or repatriation plan, or health insurance that pays hospital bills. If you need evacuation cover, check the policy wording with the provider concerned. The Medical & evacuation planning page lists the points to look for.

How can I check an agent's licence?

The Insurance Commission publishes a list of licensed agents on its website. Search for the agent's name and check that the licence is current and for the right company. My licence numbers and agent code are on my About page.