NEW pregnancy insurance plan by Prudential and today is a quick sharing of it.
PRUMUM is the plan name and can be bought as a standalone pregnancy coverage or with PRUActive Life (which is a wholelife plan).
What is PRUMUM Plan
It covers for mummies the following conditions listed below.
In particular, new conditions covered in Hospital Care benefit such as Lactation mastitis.
My wife had it and it was caused by milk that is trapped in the breast. This is in layman terms blocked duct. For claims, conditions must be severe enough to require incision and drainage surgery according to policy wordings.
Gestational Diabetes Mellitus (GDM) is also a new coverage. According to policy wordings:
We pay 10% of the sum assured for your type of plan when the life assured is diagnosed with any one of the conditions related to gestational diabetes mellitus:
1. Gestational diabetes mellitus resulting in foetal macrosomia and neonatal hypoglycaemia
2. The life assured developing type II diabetes mellitus six to eight weeks after giving birth.
3. Pregnancy complications accompanied by gestational diabetes mellitus.
Coverage conditions for congenital illnesses for your baby is also the highest at 25.
Hospital care benefit of 1% sum assured a day for 50days is also currently the highest.
PRUMUM coverage for congenital conditions is at 3years NOT 4years
PRUMum plan is for 4years in total and 4th year coverage is for death coverage benefits for the mummy.
Coverage for child congenital conditions at 3years is the same as most insurers. AXA Mumcare Plus is the highest and it covers for 6 years.
What is PRUFirst Promise Plan
PRUFirst Promise is a bundle of the PRUMUM with PRUActive Life.
It can be compared to AIA Mum2Baby protect plan which is also a maternity plan + wholelife plan.
Read AIA Mum2Baby Protect Review here
PRUActive Life covers Mum for Death and Terminal Illness with 50% of the chosen sum assured for Baby, including the Multiplier Benefit.
Upon birth of baby, PRUActive Life policy is transfered from Mum to Baby without medical underwriting. Mum has the option to add on supplementary benefit to cover Early Critical Illnesses for Baby.
Conclusions
PRUMUM can cover for you comprehensively.
As a standalone, there is no option to purchase life plans after baby is born.
Guaranteed insurability is one of the key fall-backs in purchasing standalone maternity plans.
The idea is: if baby is born with no conditions, can purchase from any company with usual underwriting, but if baby is born with conditions, they at least have the option to purchase a life plan.
We see this missing in PruMum's standalone offering, do take note of this.
Premium is based on entry age and a single premium. A qualified PRUDENTIAL adviser will be able to advise you further.
For assisted pregnancies like IVF, plan can potentially be offered at standard also which is good.
For further information on PRUFirst Promise please refer to the link here.
*Disclaimer: Author does not distribute PRUDENTIAL plans. Please speak to a qualified PRUDENTIAL adviser
Last updated on February 4th, 2020 at 12:35 pm