Prudential Laos Launches its First Suite of Digital Life Insurance Solutions to Narrow Protection Gap

Vientiane 1 March 2023

Prudential Life Assurance (Lao) Company Limited (“Prudential Laos”) has launched “PRULife Guard” and “PRULife Starter”, its first suite of digital life insurance products. These products are designed to provide personal accident benefits, coverage for accidental medical expenses as well as death benefits due to non-accidental or accidental causes.  

COVID-19 pandemic has drastically changed people’s behavior toward life planning; Laotians now have greater awareness towards protection and healthcare needs. The launch of PRULife Guard and PRULife Starter demonstrates Prudential Laos commitment to making healthcare and life insurance accessible and more affordable to everyone. These plans will allow Lao community to get access to affordable insurance solutions to meet their protection needs. More importantly, the roll-out of PRULife Guard and PRULife Starter will help raise awareness of life insurance in Laos. Important information of life insurance and product benefits will be shared to Lao consumers through awareness campaigns.

Mr. Manish Gurbuxani, Chief Executive Officer of Prudential Laos said, “Prudential Laos has invested in development of technologies in order to make healthcare and financial solutions accessible for everyone. The launch of PRULife Guard and PRULife Starter will provide Lao consumers a digital led end-to-end customer experience on their mobile or computer devices. This is to ensure that Consumers can purchase, manage the policies, and make claims at their fingertips anytime and anywhere. These products were developed based on the feedback from our customers and the wider Lao community. We actively listen and engage with the Lao people to constantly review our product and service solutions to ensure we are meeting the needs of the consumer. We are excited that these are just the first of several new innovated solutions that will be rolled out this year”.

PRULife Guard is the one-year term life insurance coverage plan that covers death, accident, and total and permanent disability benefits, including optional personal accident benefits. PRULife Guard will provide protection on hospitalization bills in case of hospitalization confinement due to an accident. PRULife Guard’s basic package starts from 160,000LAK a year with benefits of up to 90,000,000LAK.

PRULife Starter is a one-year term life insurance plan that provides protection against financial burden should death, total and permanent disability or accident occur. PRULife Starter’s basic packages with annual premium from only 90,000LAK provide benefits of up to 100,000,000 LAK.

These two products are suitable for people from 18 to 60 years old. Applicants are only to pay one annual premiums and required to complete simple underwriting process by answering a few simple questions online.    

PRULife Guard and PRULife Starter package are now available on PRUShoppe on Prudential Laos official website. For more information: www.prudential.la  

About Prudential Laos

Prudential Laos is wholly owned by Prudential Corporation Asia. We opened our representative office in Vientiane in March 2015 and received our operating license from Laos Ministry of Finance in April 2016. We offer a suite of life insurance products to provide financial protection and savings for the people of Laos. Currently Prudential Laos distributes our products and services through our network of reputable bank partners and our direct sales force.

About Prudential plc

Prudential plc provides life and health insurance and asset management in 23 markets across Asia and Africa (at 31 December 2022). The business helps people get the most out of life, by making healthcare affordable and accessible and by promoting financial inclusion. Prudential protects people’s wealth, helps them grow their assets, and empowers them to save for their goals. The business has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme.

Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom. https://www.prudentialplc.com/