Pru Life UK has launched PRUTerm Lindungi, its first life insurance plan structured to comply with Islamic financial principles in the Philippines.
The offering marks a move toward expanding Takaful-style protection in the market, aimed at improving financial inclusion across diverse demographic segments.
The product is positioned as an affordable, yearly renewable term life plan available to individuals between the ages of 18 and 60. For a minimum contribution of PHP250 annually, policyholders receive a death benefit payout of PHP100,000.
The design of the product adheres to Islamic tenets, excluding elements such as interest, speculative risk, and contractual ambiguity.
Unlike conventional policies, PRUTerm Lindungi contributions are pooled into a dedicated Tabarru’ Fund, which is independently managed and kept separate from Pru Life UK’s traditional insurance business. This fund serves as a shared pool for paying out claims, with any surplus subject to redistribution based on Shariah compliance and fund performance.
While inspired by Islamic values, the insurer noted that the product is intended for all Filipinos, regardless of religious background.
Paul Mandal, Pru Life UK’s senior vice president and chief legal and sustainability officer, said the product aligns with the company’s broader goal to enhance access to financial protection.
“With PRUTerm Lindungi, we’re offering a protection plan that respects diverse beliefs and celebrates solidarity. It’s designed to be affordable and accessible for Muslims and all individuals across religions and from all walks of life. It’s one of our many ways of empowering families and communities – for every life, for every future,” he said.
The new plan draws from Pru Life UK’s regional experience with Takaful products in Malaysia and Indonesia. The term “Lindungi,” which means “to protect” in Bahasa, reflects the insurer’s goal to extend protection to a wider population base through culturally aligned products.
Coinciding with the product launch, Pru Life UK is expanding its Adopt-a-Madrasah program, an educational initiative aimed at Muslim-majority communities in southern Philippines.
The program – implemented in collaboration with the NGO ASSIST – focuses on building capacity in areas such as Islamic finance, digital skills, and climate resilience.
Initially introduced in Davao City in late 2024, the program reached three Islamic schools, serving more than 450 students and teachers.
For 2025, the initiative will cover nine schools across Mindanao, targeting around 1,500 participants.
The curriculum integrates modules on Takaful concepts, digital tools for teaching, and the financial implications of climate change.
“We are excited to bring the Adopt-a-Madrasah program to more Muslim communities in Mindanao and help more students and teachers appreciate the importance of financial security, technology upskilling, and climate and health preparedness as part of our sustainability implementation that seeks to deliver real-world impact and long-term resilience,” Mandal said.
Pru Life UK’s entry into the Shariah-compliant segment aligns with a growing trend among insurers in Southeast Asia to broaden product access and tailor solutions for culturally specific needs.
