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Pru Life UK expands 'riders' of unit-linked insurance product

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MANILA – The Philippine unit of Pru Life UK on Thursday said it has expanded its unit-linked insurance product, providing plan holders additional protection.

In a statement, the Pru Life UK said it upgraded its unit-linked life insurance product through the PruLink Investor Account Plus or PIA Plus.

 “In its initial entry, PIA was seen as a product that catered to savings and investment needs. PIA Plus is now configured to have more protection features via the attachment of ‘riders’ or optional benefits. It thus becomes a more well-rounded product, combining savings, investment and protection,” said Belle Tiongco, the company’s senior vice president.

Optional riders include disability, personal accident and additional term insurance.

The company’s funds include peso and dollar bonds, equities and various combinations.

It recently introduced the PruLink Asian Local Bond Fund, which invests in the International Opportunities Funds - Asian Local Bond of Eastspring Investments (Singapore) Ltd., the fund management company of Prudential Corp. Asia.

The IOF had assets under management of US$730 million at end-2011.