Prudential launches indexed universal life plan to meet demand for flexible legacy planning solutions

Prudential Singapore has introduced PRUApex Legacy Index II, an indexed universal life plan (IUL) aimed at providing affluent and high-net-worth individuals with more flexibility in building, protecting, and transferring wealth to future generations. The product was officially launched on 20 July 2026, according to a statement from the company. It features multiple index allocations, customizable death benefit payout structures, and varied premium terms, allowing customers to tailor their financial strategies to evolving personal circumstances. The new IUL plan enables clients to distribute their premiums across several indices, including a gold-equity index, which provides exposure to different markets and asset classes. These include the United States, Europe, and emerging economies such as China, South Korea, and Brazil. Policyholders can select from indices with both capped and uncapped returns, allowing them to balance stability and growth potential based on individual risk tolerance. Toni Fung, Prudential Singapore's Chief Customer and Marketing Officer, emphasized that the product responds to growing demand among wealthy individuals for legacy planning solutions that adapt to shifting life priorities. She noted that traditional methods often require purchasing new policies or restructuring existing investment portfolios when adjustments are needed. PRUApex Legacy Index II aims to address these challenges by offering a more adaptable approach to wealth management. The plan includes an additional crediting rate of 0.25% per annum for indices with uncapped returns, those designed to manage volatility while allowing for potentially unlimited gains. Additionally, policyholders who complete their premium payments under the multipay option may receive a one-time bonus crediting rate of up to 6.50% on their total account value after the end of the premium period. Fung highlighted that Prudential Singapore was the first insurer in the country to introduce a volatility-controlled index into an IUL plan two years prior. Now, with PRUApex Legacy Index II, the company is broadening its index offerings, making available both conventional indices with capped returns, such as the S&P 500—and volatility-controlled indices that offer higher stability alongside the possibility of uncapped returns. Policyholders who prefer standard market indices can choose from options like the S&P 500, MSCI Emerging Markets, and EURO STOXX 50. Those seeking indices with uncapped returns but controlled volatility can consider alternatives such as the S&P 500 FC, UBS MASTR, Barclays Shiller Allocator, and MSCI World Golden Compass. In addition to offering diverse index selections, PRUApex Legacy Index II provides flexibility in how death benefits are distributed. Beneficiaries can receive the full amount as a lump sum or opt for structured payments over a period of two to ten years, ensuring ongoing financial support for loved ones. The plan supports both single-premium and multipay options, with the latter allowing for up to 20 years of premium payments. This structure accommodates varying liquidity needs and preferences regarding the timing and pace of financial commitments. The launch of PRUApex Legacy Index II reflects Prudential’s ongoing efforts to innovate within the insurance sector, particularly in addressing the complex financial planning needs of high-net-worth individuals. As the product becomes available to customers, it is expected to influence how wealth is managed and transferred across generations, offering a new layer of customization and security in estate planning.