PRUdna

Building Prudential's DNA in you.
Find Out More

PRUVenture

A unique opportunity for mid-career individuals.
Find Out More

PRUProtégé

Bringing out the best in you.
Find Out More

PRUEvents

Join us at our Recruitment Event to find out more about the job as a Financial Consultant.
Find Out More

Be Inquisitive

Why the Insurance Industry

Growing Industry

Life insurance industry has been growing. In hopes of keeping up with the ever-growing costs of living, more and more people are looking for viable sources of security to tide over times of crisis in their lives.
Weighted new business

Singapore's life insurance industry recorded a growth of 23 per cent in growth compared to the same period in 2020. This amounted to S$5.38 billion for YTD 4Q2021.

23%

Increase in 2021 compared to 2020
Workforce / Manpower

Employment in life industry dipped slightly by 1 per cent, compared to 2020 to reach a workforce of 8,675 employees as at 31 December 2021.

1%

Decrease in 2021 compared to 2020
Single Premium Products

Sales of single premium products recorded a 41 per cent year-on-year increase in weighted premiums amounting to S$2.58 billion for YTD 4Q2021

41%

year-on-year increase
Integrated Shield Plans

REMAINED MAJOR HEALTH INSURANCE PRODUCT

S$298.6 Million

IPs and IP rider premiums

Nearly 32,000 more Singaporeans and Permanent Residents were covered by IPs and riders as at 31 December 2021

2.85 million lives - approximately 71 per cent of Singapore residents are protected today.

Data source: Life Insurance Association - Industry Performance 2022.

Information correct as at 14 February 2022.

Protection Gap

 

Based on the Life Insurance Association study illustrated in the graph, most of the financially-abled age groups from age 20 – 64 are trailing significantly behind the ideal protection coverage amount for their respective stratum. Many Singaporeans are still unaware of the importance of insuring their future amidst living in a high-cost society, thus giving you a huge opportunity to make your mark in the insurance industry.

*Only Critical Illness (CI) insurance coverage had been assumed. CPF savings are not included as we have assumed that Medisave account is only used to offset the immediate medical needs, and the remaining CPF account balance cannot be withdrawn due to CI. Other savings are not included as we have assumed that the patient will still require savings to maintain a reasonable lifestyle in the later stages of life such as retirement needs.

Needs and existing cover (S$)

Note: The amount of protection needs and protection gap varies by age band, gender, income level and family profile.

Source: Life Insurance Association - Protection Gap Study 2017.

Average Life Insurance Coverage per economically active adult (including rider)
S$290,086 in 2017
Average Mortality Protection Gap per economically active adult
S$169,673 in 2017
 

Aging Population

By 2030, there will be around 900,000 senior citizens in Singapore aged 65 and above. Better medical capabilities are allowing us to live longer, with life expectancy growing year-on-year. However, the concept of retirement planning is still rarely practised. Grab this chance to shine your light and help the people around you in learning the importance of retirement planning to secure their future.

SINGAPORE 2030

Today we have around 590,000 senior citizens aged 65 and above. By 2030, we expect this to increase by more than 50% to around 900,000.

Senior Citizens

Life expectancy at birth

Source: Singapore Department of Statistics.

Information correct as of 1 June 2022.

Rising Costs

With cost of basic necessities increasing year on year without respite, people are starting to realise that one can no longer rely on their month-to-month savings to tide over unforeseen circumstances in life. Things are getting increasingly expensive over a shorter period of time. One needs to plan faster and further ahead than the speed of inflation to better secure their future.
Transport

15.5%

increase

Healthcare

1.3%

increase

Food

4.5%

increase

Source: Singapore Department of Statistics, Consumer Price Index (2019 as Base Year) May 2022.

[Contains information from Consumer Price Index (2019 as Base Year) May 2022 accessed on 23 June 2022 from Singapore Department of Statistics which is made available under the terms of the Singapore Open Data Licence version 1.0. https://data.gov.sg/open-data-licence]

PRUdna

Building Prudential's DNA in You

The Prudential Advantage

Broad Range of Products

One size never fits all.

We have products catering to the needs of every individual customer.

Innovative

We have invested substantial amount into perfecting innovative integrated sales systems to support our Financial Consultants in the most seamless of ways possible.

Over 90 Years of History

With over 90 years of history in Singapore, Prudential proves to be the forerunner in the industry providing highest levels of exemplary care in understanding, servicing and meeting the needs of our customers.

Our Support

Skill Development
We ensure that you will be equipped with appropriate knowledge and skills to excel as a Financial Consultant with us.
Mentoring
Our strong mentorship and coaching programmes will help build your self-confidence and bring out the best in you.
Activities
We continuously facilitate lead generation activities for you to supplement your daily prospecting.
Incentives and Rewards
We provide incentives to help kick start your career, reward you for participating in the right activities and if you qualify for our overseas conventions, we will fly you to dream destinations.

PRUdna Programmes

Catering to various segments such as undergraduates, graduates and mid-career professionals through customised programmes like PRUVenture and PRUProtégé, we welcome you to join us regardless of your experience.

Click below to find out more!