Pru Life UK and Al Amanah Bank Collaborate to Promote Islamic Finance and Education in the Philippines

(L-R) Maricel Estavillo,Vice President for Government Relations & Sustainability; Hon. Amilbahar P. Amilasan, Jr. Chairman and CEO, Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP); Undersecretary Renato Reside, Department of Finance; Dean JukipliWadi, Pru Life UK Shariah Committee Chairman; Atty. Paul Mandal, Pru Life UK Chief Legal, Government Relations & Sustainability Officer; and Imelda TarhataF. Macarambon, Chief Operating Officer, Al-AmanahIslamic Investment Bank of the Philippines (AAIIBP)

Following its receipt of Takaful operator license, Pru Life UK is partnering with Al Amanah Islamic Investment Bank of the Philippines (AAIIBP) to promote Islamic finance and Takaful through financial education and capacity-building initiatives and help expand reach of financial inclusion to more Filipino communities, primarily in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). 

Takaful, a Shariah-compliant form of insurance, means joint guarantee. It is founded on cooperative arrangement and aligns with the principles of mutuality and solidarity. 

“Pru Life UK’s Takaful journey is driven by our commitment to social inclusion, aiming to provide financial protection to more Filipino families. We are excited to collaborate with AAIIBP on financial education and capacity-building to help address the need to fill in the gap in financial education especially for Muslim communities, shares Atty. Paul Mandal, Pru Life UK’s Chief Legal, Government Relations and Sustainability.

Pru Life UK is preparing to introduce an insurance product, subject to regulatory approval that is compliant with Shariah rules and principles, in support of the Philippine government’s financial inclusion thrust, and help Muslim and non-Muslim Filipinos achieve financial security. 

AAIIBP is the first Islamic bank in the country with the mandate to promote and accelerate socio-economic development through banking, financing and participating in agricultural, commercial and industrial ventures based on the concept of Islamic banking.

“As the country’s first Islamic bank, AAIIBP is committed to advancing financial inclusion through Shariah-compliant solutions. The partnership with Pru Life UK on financial education and capacity building is a significant milestone in our efforts to uplift Muslim communities and empower them to become key contributors to the nation’s progress. We are eager to witness the positive impact this collaboration will bring,” said AAIIBP’s Chairman & CEO Amilbahar Amilasan, Jr.  

This collaboration between Pru Life UK and AAIIBP is a promising step towards a more inclusive and financially resilient Philippines.

Part of Pru Life UK’s Takaful journey is the roll out of community investment and engagement initiatives. In October 2024, the insurer launched the “Adopt-a-Madrasah Programme, covering over 450 students and teachers from three community madrasahs in Bangkal, Davao City. Pru Life UK targets to expand the reach of this programme and launch financial education sessions in key sites across the country especially in Mindanao this year.

For updates on Takaful initiatives, please visit https://www.prulifeuk.com.ph/en/Takaful.

 

Pru Life UK wins five Asia-Pacific Stevie ® Awards

Leading life insurance company Pru Life UK has been awarded five accolades at the 2024 Asia-Pacific Stevie® Awards, for its outstanding contributions to making a sustainable impact on the lives of many Filipino families.

 

The Asia-Pacific Stevie® Awards is an esteemed business awards program, known for acknowledging excellence in organizations across the Asia-Pacific region. Among those recently awarded is Pru Life UK, underscoring the company's dedication to championing financial literacy and sustainability efforts. 

In photo: [L-R] Francis Macatulad, Asia Society for Social Improvement and Sustainable Transformation (ASSIST) Executive Director; Maricel Estavillo, Pru Life UK VP for Government Relations and Sustainability; Cecille Fontanilla, VP for Corporate Affairs; Lalaine Almazan, Asst. Manager for Corporate Communications; and Hannah Aman, Asst. Manager for Community Investments and Sustainability Partnerships

 

Pru Life UK was bestowed two awards for its PRUBabies campaign with a Silver Stevie® for “Community Relations and Public Service Communications” and a Bronze for “Diversity & Inclusion”. PRUBabies seeks to protect 175,000 newborns against the cost of getting selected infectious diseases, such as Dengue, Typhoid, Measles, and Malaria. By offering free PRUMedCare coverage, cash assistance is provided upon diagnosis and death related to selected infectious diseases, demonstrating Pru Life UK's commitment to nurturing healthier futures.

 

The company also received a Bronze Stevie® for Events for PRURide Philippines 2023, which emerged as the largest cycling festival in the Philippines, bringing together over 5,000 cyclists and families to share in the joy of cycling.

 

Commenting on these accolades, Sanjay Chakrabarty, President and CEO of Pru Life UK shares, “These recognitions are a solid illustration of our steadfast commitment to being the trusted partner and protector of Filipino families. We dedicate this success to the communities we serve, for fueling our relentless pursuit to champion financial literacy and sustainability. Such awards reaffirm our goal of making a positive impact on our society, driving meaningful change, and empowering Filipino communities to prepare for their future."

 

Pru Life UK also received a commendation for its Corporate Social Responsibility efforts, winning a Bronze Stevie® for Project Padayon and a Silver Stevie® for the Cha-Ching program.

 

Project Padayon, in partnership with the Asia Society for Social Improvement and Sustainable Transformation (ASSIST), uplifts the lives of Bantayan Island residents through community-based training programs. Funded by the Prudence Foundation’s COVID-19 Recovery Grant, the initiative empowers communities through workshops on Small & Medium Enterprises (MSMEs) empowerment, family health, disaster risk preparedness, and climate change resilience. Meanwhile, Cha-Ching, a financial literacy education program created by Prudence Foundation,the community investment arm of Prudential plc in Asia and Africa, impacts millions of children by teaching them sound financial habits and responsibility, shaping a financially literate generation.

 

Pru Life UK remains steadfast in its mission to be the most trusted partner for every life and protector for every future of Filipino families. 

 

Pru Life UK is encouraging Filipinos to eat healthier while getting a chance to win the latest Apple Watch Series 7

Leading life insurer Pru Life UK is encouraging Filipinos to eat healthier while getting a chance to win the latest Apple Watch Series 7 as it launches the Vegethon Challenge promo on Pulse, its AI-powered health and wealth app.

 

In celebration of Nutrition Month this July, the Vegethon Challenge aims to help Pulse users develop healthier eating habits by incorporating more fruits and vegetables in their daily diet.

 

“At Pru Life UK, our mission is to help Filipinos lead healthier and wealthier lives so that they can get the most out of life.  We are inviting Filipinos to start a healthier diet and track their nutrition. Through this new activity along with the other health and fitness features on Pulse, we offer a holistic approach to health and wellness to Filipinos,” said Pru Life UK Senior Vice President and Chief Customer and Marketing Officer Allan Tumbaga.

 

The Vegethon Challenge raffle promo is open to all registered Pulse users. They will earn one raffle entry by logging their vegetable meals for a total of seven days. It will run until August 10, 2022 and the winner will be drawn on August 26, 2022. The winner will be notified via e-mail, call, and SMS.

 

Aside from the Vegethon Challenge, Pulse users continue to enjoy FREE access to the app’s AI-powered features such as Healthcheck, Symptom Checker, Fitness Tracker, Food Journal, etc. The app also offers protection products such as personal protection, yearly renewable term insurance, and life insurance.

 

To join this challenge, users can simply download and register through Pulse. Once logged on, users will need to look for the Vegethon Challenge activity under the Nutrition tab, then start logging their 7-day nutritious meal plans. 

 

To know more about Pru Life UK and this promo, please visit https://www.prulifeuk.com.ph/en/explore-pulse/pulse-nutrition/

Pru Life UK ranks Number One on MDRT among local insurance companies

Leading and fastest growing life insurer Pru Life UK outranks other life insurance companies in terms of number of Million Dollar Round Table (MDRT) agents, another milestone achieved as it celebrates its 25 years in operations. This year, the insurer more than doubled its MDRT agents to 501 compared with last year’s 246 qualifiers.

 

The MDRT, a premier association of financial professionals, is a global, independent association of the world’s leading life insurance and services professionals from more than 500 companies in 70 nations and territories worldwide.

“With the largest number of agency force, further backed by online innovation, with proven and trusted offline capabilities, the company has achieved this  PRUMDRT 500 victory. We recognize and appreciate our agents’ contributions despite the challenges brought by the pandemic. This motivates us to continue our journey to help Filipinos get the most out of life,” shared Pru Life UK EVP and Chief Distribution Officer Maria Divina Furagganan.

Earlier this year, the Insurance Commission announced the ranking among life insurers in the Philippines in terms of New Business Annual Premium Equivalent (NBAPE) for the year 2020, in which Pru Life UK also ranked number 1.

 

This significant achievement coincided with the company’s 25th anniversary this year. In celebration of its success, Pru Life UK conducted the We DO Health & Wealth: 25th Anniversary Celebration, featuring a 25-week free raffle bonanza.

 

“This celebration is our simple way of thanking our customers for letting us be their trusted life insurance partner for two and a half decades. In the years to come, we will continue to uphold our promise to be a company that listens and responds to the financial needs of our community on their journey to achieve their health and wealth goals,” added Furraganan. 

 

The 25-week raffle draw awarded over Php 6 million worth of prizes to more than 600 winners, including a grand prize winner of Php 2.5 million cash, 25 winners of an iPhone 12 mini and 24 winners of an e-gift certificate worth Php 2,500. Official announcements can be found on Pru Life UK’s website and official Facebook page.

 

Pru Life UK has launched its latest health protection product designed for the independent and empowered women in our lives

Leading life insurer Pru Life UK has launched its latest health protection product designed for the independent and empowered women in our lives, the PRUHealth Prime - Select Breast Cancer, through Pulse, the company’s all-in-one health and wellness app.

“This protection product, designed for the women in our lives, be it our mother, sister, daughter, daughter-in-law, or grandmother, goes a long way for less than Php 2 a day. With it Pru Life UK underscores women’s health by giving hardworking and caring Filipinas financial protection from breast cancer, currently the most common cancer among women in the Philippines and worldwide¹,” shared Pru Life UK Chief Customer Marketing Officer Allan Tumbaga.

 

PRUHealth Prime - Select Breast Cancer comes in two packages. A one-time premium of Php 150 provides a lump sum amount of Php 10,000 upon diagnosis, while a one-time premium of Php 425 offers a lump sum amount of Php 10,000 upon diagnosis and a guaranteed lump sum amount of Php 20,000 when undergoing Mastectomy or Lumpectomy. This is valid for one year.

PRUHealth Prime - Select Breast Cancer protection is the first cancer-specific product offered in the market. The protection is available for purchase through Pulse, which can be downloaded for free on any Android or iOS mobile device. To get this product, visit this link.

 

Last month, Pru Life UK also introduced two new optional supplemental critical illness (CI) benefits or riders, the Select Top 4² and Select 52³ Critical Illness riders to PRUHealth Prime, an insuravest plan with critical illness coverage against all forms of cancer.

 

The Select Top 4 Critical Illness Benefit provides for top 4 covered late-stage critical illness conditions, while the Select 52 Critical Illness Benefit provides for 52 covered late-stage critical illness conditions.

 

Customers who are availing of PRUHealth Prime but would want to be covered against other critical conditions can purchase either of the two new critical illness riders during the new business application process and/or after policy issuances.  

 

 

¹ Breast cancer facts in the Philippines. November 2020. https://www.philstar.com/lifestyle/health-and-family/2020/11/08/2055031/breast-cancer-facts-philippines

² Heart Attack, Kidney Failure, Stroke, and Benign Brain Tumor

³ Terms and Conditions apply. See website for more details.

 

 

For more premium payment options and detailed product information, customers may refer to the Terms & Conditions on the Pru Life UK website or by booking an appointment with a Pru Life UK insurance agent.

Pru Life UK promotes financial literacy among Filipino families

Pru Life UK, in partnership with Prudence Foundation and Junior Achievement Philippines, is bringing financial literacy to every household through “Cha-Ching Kid$ at Home: Financial Literacy Basics for Filipino Families”. The free public webinar, taking place on September 12, 2020 at 2:00 PM via Zoom, invites parents and their children, aged seven to 12 years old, to participate and learn basic money management skills.

“In these extraordinary times, it is imperative that Filipino families empower their kids to be future-ready, especially around money matters. By offering the Cha-Ching learning and experiences online, we hope to reach out to and educate more people on basic money management,” says Allan Tumbaga, Pru Life UK Senior Vice President and Chief Customer Marketing Officer.

The webinar will be hosted by lifestyle and children’s TV presenter Tonipet Gaba and Pru Life UK’s own Mary Jane Pangan. It will also feature two education and finance experts as guest speakers.  Dr. Queena Lee-Chua, a multi-award-winning mathematics and psychology professor and the author of Study Smart: What Parents, Students, and Teachers Should Know, will lead the session “Introducing Money Concepts to Kids” and share tips with parents on how to teach their children about financial matters. Joining her will be Dr. Mary Joy Abaquin, the founder of Multiple Intelligence International School and author of 8 Simple Secrets to Raising Entrepreneurs. She will discuss different ways to develop the entrepreneurial skills of children in her session “Start Them Young: Instilling the Financial Growth Mindset to Kids”.

To make the webinar even more exciting, the event will also feature interactive money-related games and special prizes for children. A lucky participant will also win a brand-new tablet through a raffle.

The webinar is part of Pru Life UK’s We DO Education commitment, which aims to help more Filipinos become money-smart. In June, Pru Life UK and Prudence Foundation launched the Cha-Ching Kid$ at Home initiative to provide online and printable materials to parents, helping them teach their children easy-to-learn money management concepts like Earn, Save, Spend, and Donate. These resources, including music videos, topics for discussion, and engaging activities, can be accessed and downloadable for free on the website, www.cha-ching.com. 

“We understand the important role that parents play in shaping their children’s financial future. By making the learning process more fun and inspiring, we aim to help cultivate more financially-responsible behaviors among both parents and children in the Philippines,” says Marc Fancy, Prudence Foundation Executive Director.

To join Cha-Ching Kid$ at Home: Financial Literacy Basics for Filipino Families, register at link.

For more information, visit the Pru Life UK website at prulifeuk.com.ph or the Facebook page at facebook.com/prulifeukofficial.

Pru Life UK introduces breakthrough DNA-based health and wellness product

Filipinos can now take advantage of life and wealth protection as well as health management in one product with the introduction of the myDNA Pro Bundle by Pru Life UK. The first of its kind in the Philippines’ life insurance industry, myDNA Pro Bundle combines Pru Life UK’s insuravest, or investment-linked life insurance solutions, with the myDNA Pro program, which provides tailored diet and fitness recommendations on reducing health risks based on an individual’s DNA.

Allan Tumbaga, Senior Vice President and Chief Marketing Officer of Pru Life UK said, “Pru Life UK is committed to listening to and understanding the needs of individuals and families across the Philippines. Through myDNA Pro, Pru Life UK provides Filipinos with a unique and innovative product to help them establish healthier lifestyles. Combined with our lineup of high quality protection and investment solutions, we believe myDNA Pro Bundle offers customers a holistic package covering life and wealth protection as well as health management.”

Developed by Hong Kong-based genetics testing company Prenetics Limited, the program generates a comprehensive DNA report  that helps identify and reduce the “three highs” of health risks—type 2 diabetes , high blood pressure, and high cholesterol. These health risks, according the Department of Health , are among the leading causes of mortality in the Philippines. 

The myDNA Pro also provides customers with access to a nutrigenomics report which explains the way a person responds to food and nutrients based on his genetic make-up. Both the DNA and nutrigenomics reports, which are generated with just the provision of saliva swab sample for DNA testing, are thoroughly explained by a dietician.

Apart from the reports, customers will also benefit from a free 12-month exclusive access to the myDNA Pro mobile application. Through the mobile app, customers will be taken on a health and wellness journey via its many features, including a 16-week lifestyle intervention program, support from an on-call health coach, a photo food diary, customized exercise videos, as well as an assessment on their daily diets. 

“While many of us may be pre-disposed to these health risks because of our genetic make-up, they can be minimized, or even mitigated, by leading a healthy lifestyle. The myDNA Pro mobile app helps customers get started toward a healthier lifestyle — by eating healthier, burning calories by increasing activity, overcoming challenges by getting support and beating triggers, and finally sustaining what has been have started by building good health habits,” said Tumbaga.

Life and wealth protection with Pru Life UK’s insuravest
To enjoy the life and wealth protection component of myDNA Pro Bundle, customers can choose among the three of Pru Life UK’s insuravest products, which the company pioneered in the country in 2012.

Breadwinners who want a comprehensive insurance plan may choose PRUlink assurance account plus myDNA Pro Bundle at an affordable minimum total annual premium of PhP 70,000 or USD 1,400. 

For the budget conscious, PRUlink exact protector myDNA Pro Bundle will allow them to have insurance coverage and accumulate wealth while paying a minimum total annual premium of PhP 70,000 or USD 1,4004 for a limited time of 5, 7, 10 or 15 years only.

Meanwhile, savvier investors can take advantage of PRUlink elite protector myDNA Pro Bundle at a minimum total annual premium of PhP 75,000 or USD 1,7004 for a limited time of 5,7, 10 and 15 years. The plan combines offers a higher insurance coverage with an elevated commitment of investment amount so as to deliver better returns.

 These bundles include additional benefits against the debilitating financial impact of accidents, hospitalization, and critical illnesses. These are:
• Accidental Death and Disablement Benefit, which gives the beneficiary a lump sum cash benefit when the insured passes away or become disabled or dismembered due to an accident;
• Accelerated Total and Permanent Disability Benefit, which advances a portion of the basic coverage when the insured becomes totally and permanently disabled due to an injury or disease;
• Waiver of Premium due to Total and Permanent Disability, which waives subsequent premiums when the insured becomes totally and permanently disabled due to an injury or disease;
• Daily Hospital Income Benefit, which gives the insured a daily cash benefit for each day of hospital confinement due to an accident or illness up to 365 days; and
• Life Care Plus, which provides cash benefit when the insured is diagnosed to be suffering from any of the 36 critical illnesses.

“We are very excited to introduce myDNA Pro Bundle, a breakthrough product that will set a standard in the life insurance industry in helping Filipinos shape a better financial and wellness future for themselves. We believe myDNA Pro Bundle is yet another example of Pru Life UK’s long-standing commitment to providing innovative, high-quality products and solutions that meet the evolving needs of our customers.” Tumbaga concluded.

In 1996, the Insurance Commission granted the British subsidiary the license to operate and sell life insurance products in the country. Since then, Pru Life UK has expanded its reach to over 130 branches in the Philippines, with the biggest life agency force of almost 20,000 licensed agents and has emerged as one of the top five life insurers. Pru Life UK’s headquarters is located in Uptown Bonifacio, Taguig City.

To find out more about Pru Life UK’s myDNA Pro Bundle, visit http://www.prulifeuk.com.ph/mydnapro.

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On an island in the Philippines which was almost washed away by typhoon Yolanda, hope is what the locals had left. Through Pru Life UK, the locals of Bantayan Island were given the courage to fight against the challenges in life.