Tuesday, April 5, 2016

Insurance firm bullish on Davao, offers new product

DAVAO CITY April 5, 2016 (PIA) - As a sign of optimism and bullishness in Davao City’s economy, Pru Life Uk is offering its newest product to Dabawenyos.

The Prulife Elite Protector 5 is a life insurance which combines protection and investment needs of its clients. One of its characteristic is it has a short-paying period of 5-years which promotes more efficient planning providing wealth-accumulation opportunities for clients.

The minimum premium for the PRUlink elite protector 5 is P200,000 or USD 4,500.

Tennyson Paras, assistant vice-president for market research and development said that Dabawenyos particularly  middle class segment is a potential market for the product which is now its fastest-selling insurance product in Manila.

Paras said they conducted market research here in Davao and the average investment is nearly equivalent to the tuition fees of top universities here in the city.

Pru Life UK President and CEO Antonio Manuel de Rosas said that the product was specifically developed to provide financial security and higher benefits to policyholders backed by Eastspring Investments Ltd. (Singapore based investment firm) expertise in fund management.

The policyholders can enjoy the flexibility of choosing where to invest their premiums from among Pru Life’s extensive fund portfolio.

De Rosas said that they are hopeful Elite Protector 5 will do well in Davao.

Davao is a high-growth area for Pru Life, proof of the growth is that Davao City now has three Pru Life branches when it used to have only one. In 2015 the company has projected 40% growth in the Davao area. (PIA/RG Alama)

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