Prudential introduces new universal life insurance product Pru-Bao ve toi da

Pru-Bao ve toi da is open to customers aged between 30 days and 70 years, offering a maximum coverage level that ranks among the highest in the market. Policyholders can choose between Basic and Advanced plans and have the flexibility to switch between them without modifying the premium payment.

According to Luong The Vinh, Head of Product at Prudential Vietnam, the product was developed in response to market research, targeting growing customer demand for practical and adaptable insurance solutions that accommodate life changes.

To support customers' financial goals, the policy includes several bonus incentives. These include a loyalty bonus awarded on the 10th and 15th anniversaries and every five years thereafter, and a retention bonus granted on the 20th anniversary and every five years thereafter.

Luong The Vinh, Head of Product at Prudential Vietnam, speaks about its new product's advantages. Photo courtesy of Prudential

In addition to protection benefits, Pru-Bao ve toi da supports long-term financial accumulation through guaranteed interest rates. The rate is set at 3.5% for the first year, 3% in the second year, and gradually decreases to a minimum of 1% from the 16th policy year onward.

Over the past five years, Prudential's Universal Life Fund — managed by Eastspring Investments Vietnam — has delivered actual returns of 5–5.5% annually. Eastspring is one of the largest asset management firms in the local market.

The product also offers flexible features to accommodate changing financial needs. Policyholders can increase the account value by up to five times the annualized target premium or raise the sum assured without medical underwriting during significant life milestones, such as marriage, childbirth or adoption, or when a child enters primary school, secondary school, high school, or university.

Customers can also adjust the sum assured, add or remove riders, and make withdrawals from the policy account value to suit evolving financial priorities.

Additional riders are available at reasonable costs, offering broader coverage and increased protection and healthcare benefits for both individuals and families.

Ngo Trung Dung, Deputy General Secretary of the Insurance Association of Vietnam, noted that the product was introduced as the life insurance industry shows signs of recovery. In Q1 2025, more than 342,000 new contracts were issued, a 4.3% increase year-on-year. General insurance accounted for approximately 60% of the total new contracts, reflecting a growing interest in combined accumulation and protection products.

"The new Law on Insurance Business has expanded benefit options, improved transparency, and enhanced consumer protection. This is a period for insurers to regain market trust by offering high-quality and practical products," Dung said.

Conor M. O'Neill, Chief Financial Officer Prudential Vietnam, speaking at the event. Photo courtesy of Pruddential

Conor M. O'Neill, Chief Financial Officer at Prudential Vietnam, described the product as a strategic initiative that aligns regulatory compliance with innovation. "For Prudential, sustainable growth is not just about numbers but creating long-term value for customers and the community. We want to be a pioneer in setting new standards for the industry," he said.

By 2024, Prudential reported total assets exceeding VND189 trillion (US$7.29 billion) and over VND14 trillionpaid out in insurance benefits. The company maintains a solvency margin of 193% and serves more than 1.5 million customers, with its Net Promoter Score (NPS) remaining in the industry's top tier for three consecutive years.

Prudential's sustainable investment fund, PRULink-Tuong Lai Xanh, has also seen encouraging performance, reaching VND583 billion within one year of its launch.

With its combination of high protection, stable accumulation, and flexible policy adjustments, Pru-Bao ve toi da is positioned to become one of Prudential's core offerings, supporting customers in building a secure and adaptable financial foundation through all stages of life.