LIFE insurer Pru Life UK today launched the Pru Life UK credit card together with partners Robinsons Bank and Mastercard.
In a virtual roundtable session with the media, the life insurer introduced its co-branded card packed with features that offers, among others, convenient premium payments and other exclusive benefits rooted in the financial stability of its partners.
“The importance of investing in one’s health and financial security has never been as apparent as it is now, when the ongoing pandemic continues to cause disruptions and uncertainties in the Philippines. Today, we are excited with the launch of this card, which will now provide an enhanced experience to our customers with a more convenient payment solution, bundled with exclusive features and benefits, made even more rewarding for the customer with every transaction,” said Eng Teng Wong, Pru Life UK President and CEO in front of the local media.
“The card is part of Robinsons Bank and Pru Life UK’s long-term bancassurance partnership; an alliance that continuously diversifies its offerings to utilize the strengths of each company while providing added value to our customers,” he added.
When asked by FrontpagePH.com whether this partnership will help convince Filipinos to avail of an insurance plan and a credit card, Wong said that because of the pandemic, many have realized the importance of health, and because of that, the importance of insurance has gained a lot of prominence.
He mentioned Pru Life UK’s artificial intelligence-powered app called “Pulse” where in the last 20 months, more than six million Filipinos have downloaded the app, and about one-third have registered to use the app, and quite a number of them have already become Pru Life UK policyholders. “Today, we take pride in being able to help Filipinos have accessible and affordable insurance solutions designed specially for them. Now, they can buy a protection product with just a few clicks. We now have a lot of customers, something we have never experienced before.”
He likewise pointed out that for him, the lack of financial literacy is the major hindrance why people don’t invest in insurance, not for anything else. “With this partnership of the three organizations, we hope to reach more Filipinos so they can benefit from accessible and affordable insurance solutions,” Wong emphasized.
“We have seen a renewed interest in insurance. Based on studies, we found out that among the younger people, those who have started to work, have suddenly expressed interest to get protection because of the pandemic, and many have availed of the bite-sized products that are easy on the pocket,” according to Allan Tumbaga, SVP and Chief Marketing Officer of Pru Life UK.
He likewise pointed to credit cards and its benefits, but also reminded that those who avail of it should be responsible in terms of usage in order to establish their credit-worthiness or credit line, where the easiest way to do it is by paying their credit card bills whenever it is due.
Simon Calasanz, Mastercard Philippines Country Manager, replied that insurance is very important, particularly for families. He cited the usual example that having insurance protection provides security for the welfare of the family, if and when something happens to the head of the family, and likewise encouraged more Filipinos to get insurance. “By getting insurance, even if the head of the family is already gone, life continues for family, a life they will be able to enjoy.”
As regards credit cards, Calasanz said that because of the pandemic, they’ve seen a lot of people opening up and doing more digital transactions. “People are now starting to be aware of the convenience of using credit cards, but what we would also like to urge them to do is to educate themselves in terms of using their credit cards more responsibly.”
For his part, Robinsons Bank President and CEO Elfren Antonio Sarte said the unique credit card provides Pru Life UK policyowners with financial flexibility, along with health and wellness benefits that are exclusive to the credit card. “It also provides them the convenience of a streamlined payment facility when paying their insurance premium, eliminating the risk of missed payments,” Sarte said.
As the Philippines treads on the road to economic recovery and the country’s vaccination rate steadily climbing, Sarte said they encourage their customers to protect their health and their future. “Robinsons Bank supports PLUK so that their clients can maximize the potential of their credit card.”
The card has two variants, Classic and Platinum MasterCard, that provides cardholders with unique benefits including:
- Free annual membership fee for the first year. Succeeding annual membership fees are waived when the Pru Life UK policy premium is enrolled in auto-charge facility.
- 0-percent installment for 3 months on drugstores and hospital bills with a minimum transaction of P3,000 and maximum of P50,000 per year.
- Exclusive discounts and deals on active lifestyle and health & wellness products.
- Earn Five (5) Rewards Points for every P50.00 spend on Pru Life UK transactions and one (1) Rewards Point for every P50 spend on non-Pru Life UK transactions.
- All other existing features of Robinsons Bank credit cards shall also apply to this card; this includes: contactless payment, EMV-chip technology, electronic SOAs, and installment plans (Balance Transfer, Convert-to-Cash, Transaction Conversion, Balance Conversion).
- Free airport lounge membership with access to more than 1,200 lounges globally on top of 900+ offers from Priority Pass partner merchants for Platinum Mastercard cardholders.
- Platinum Mastercard cardholders can also avail free travel insurance every time they use their Pru Life UK MasterCard in purchasing roundtrip international tickets.
The card is primarily offered to Pru Life UK employees, agents, and policyholders through email or SMS invitation with a link to the online application form.
To learn more about this offer, visit https://www.robinsonsbank.com.ph/cards/credit/card/pru-life-uk-credit-card/.