2023 PRUVenture T&C Application Form - Final - 230110 - 214240 2
2023 PRUVenture T&C Application Form - Final - 230110 - 214240 2
PRUVenture
Monthly Mth 13-18*
Mth 1-12
Requirement (PRUVenture Plus)
Group TPC & Case Count Active Manpower
Bridging Income TPC & Case Bridging Income
(incl. personal sales) (incl. self)
RM 6,000 18,000 & 4-Cases RM 3,000 18,000 & 4-Cases 2
RM 8,000 24,000 & 4-Cases OR
RM 10,000 30,000 & 4-Cases RM 5,000 30,000 & 4-Cases 3
• Agent shall achieve persistency above 90% in the Current Year and 85% in the 1st Year.
Other • Agent shall fulfill 100% training attendance and meet 400 PRULeads Activity Points via
Requirement Daily Activity Management Report.
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PRUVenture
Monthly
Month 1-12
Requirement
Quarterly Validation
Total Quarterly Bridging Income Quarterly Production (TPC & Case Count)
RM 18,000 54,000 & 12-Cases
RM 24,000 72,000 & 12-Cases
RM 30,000 90,000 & 12-Cases
7. Production • Limited pay products with premium payment term which is less than 20 years will be
Count prorated at 50% (No pro-rate required if premium/contribution payment term is more
than 20 years.
• Limited pay products shall include, but is not limited to, existing versions products,
products with older versions but similar features, and future new or enhanced versions
products that might or might not have the same name. Limited pay products’ rider
premiums/contributions will follow the basic premium’s/contribution’s payment term.
• List of limited pay products and percentage of pro-rating may be revised by Prudential
from time to time.
• The minimum New Business case size required for all validation mentioned in the
program is 1,800 Life API/ACI with the exception of the following: PRULady, PRUcancer
X, PruBSN WarisanPlus, PruBSN AnugerahPlus, and PruBSN Anggun; in which case size
below 1,800 Life API/ACI will be counted as 0.5 cases.
8. Monthly • All cases and production count are for approved and in-force cases only, captured by
Payout the last date of the validation month. Replacement of Policy (ROP)/Replacement of
Certificate (ROC) cases will not be counted for any validation. Any production captured
before the Intake Month is not counted for bonus validation. No transfer of case is
allowed.
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10. Replacement of • If policy/certificate sold earlier and subsequently classified ROP/ROC, the Agent must
Policy (ROP)/ replace the policy/certificate for validation and Bridging Income payout. Only
Free Look/ successful released ROP/ ROC will be counted for production and number of cases on
Surrender & the ROP/ROC release month.
Lapse • For lapsed or surrendered cases, every effort should be made to immediately reinstate
the policy/certificate.
11. PRUVenture • PRUVenture/PRUVenture Gen-Z Agents must introduced two (2) new recruits during
Plus the first 12 months of the program in order to continue the program from Month 13 to
(Month 13 – Month 18 under PRUVenture Plus. New recruits must be a contracted PAMB and/or
Month 18) PruBSN Takaful agent before the start of Month 13 of the program.
• Agents will not be able to proceed to Month 13 in the event the Agent is withdrawn
from the program following his failure to achieve Minimum Quarterly Production
Requirement.
• Active manpower refers to the Agent being able to capture minimum of one (1) New
Business case per month.
PRUVenture Plus
Monthly Requirement
Monthly Bridging Group TPC & Case Count Total Active Manpower
Duration
Monthly Income (incl. personal sales) (Incl. self)
Validation RM 3,000 18,000 & 4-Cases 2
Requirement Month 13 – 18 OR
RM 5,000 30,000 & 4-Cases 3
▪90% Current Year and 85% 1st Year
Persistency &
▪PRUVenture Agent must be active each month to receive payout
Training
▪100% Training Attendance
12. PRUVenture • The Agent must complete first 12 months of the program with 90% Current Year and
Bonus 85% 1st Year Persistency.
• One-off payment to the Agent if the Agent achieves the stipulated TPC Production and
Case Count requirement between Month 13 to Month 24.
• Qualifier will have to remain as a contracted PAMB/ PruBSN Takaful agent at the time
of payment. Payout will be subjected to three (3) months CFI & Persistency
monitoring.
• TPC Production requirement for PRUVenture Bonus shall follow Prudential Production
Credit calculation.
Month 13 - Month 24
Reward
TPC Production Requirement Case Count
280,000 RM 20,000
50
200,000 RM 10,000
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Category : Reward:
PRUVenture Gen-Z RM3,000
PRUVenture RM5,000
RM5,000
PRUVenture PRUVenture Agent B Successfully complete
payable to
Agent A (Introducee) the PRUVenture
PRUVenture
(Introducer) program (1-12months)
Agent A
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16. Leader • The PRUVenture Learning & Development Program Fee is valued at RM2,000. The
Commitment program fees will be charged at a subsidized rate of RM1,000, where RM500 will be
charged to the Agent and Agency Leader respectively. No refund for any no show
participants.
• Any amount unrecoverable from the Agent after the first quarter of the Intake Month
will be deducted from the Agency Leader.
• The fees in relation to such trainings and meetings (if any) shall be at the Agent’s own
expense. Cost of training applies and will follow the fees and ruling as per Prudential's
guidelines. Prudential reserves the right to change the training fees and monitoring
system from time to time which it deemed necessary and appropriate.
• Leaders are expected to adhere to the training requirements, or any other events
required by Prudential when deemed necessary and appropriate. The fees in relation
to such events (if any) shall be at the Leader’s own expense.
• Each Agency Leader is given five (5) PRUVenture headcount in 2023 to recruit and
develop. Any additional headcount will be subjected to Prudential's review.
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17. Other terms • The approval for an Applicant to be a PRUVenture/ PRUVenture Gen-Z Agent shall be
at Prudential’s sole and absolute discretion. Prudential, in exercising its sole and
absolute discretion, may take into account various factors, including but not limited to
the following:
- Request for further documentations
- Interview and recommendation by the Agency Leader; and
- Interview and Approval by Assistant Director of Agency (ADOA) / Agency Growth (AG)
team.
• In the event of any dispute as to the Terms and Conditions of this Program, the Agency
Circular of PRUVenture and Agency Instruction of Promotion will prevail.
• All policies/certificates sold are subject to Cancellation From Inception (CFI) tracking by
taskforce. Any CFI with intentionally action will caused the Bridging Income being
forfeited.
18. Mandatory • The Agent is required to attend trainings and meetings within the timeline as
Training & determined by Prudential which include any sessions and seminars, but not limited to
Supervision *PRUVenturion (Onboarding), *Fast Start V (Month 1 – Month 4), *PRUVenture
Masterclass (Month 5 – Month 12) and *PRUaspire Leaders (Month 13 – Month 18).
• The fees in relation to such trainings and meetings (if any) shall be at the Agents’ own
expense.
• The Company reserves the right to change the training fees and monitoring system
from time to time which it deemed necessary and appropriate.
*Or the program’s equivalent, which will be notified by the Company.
19. Data Privacy I understand that it is not obligatory for me to give the personal data being requested here,
Declaration but if I do not, Prudential Assurance Malaysia Berhad (“Prudential”) will not be able to
perform its obligations to me or will not be able to carry out the purposes below.Saya
memahami bahawa saya tidak wajib untuk memberikan data peribadi yang diminta di sini,
tetapi jika saya tidak memberikannya, Prudential Assurance Malaysia Berhad (“Prudential”)
tidak akan dapat melaksanakan kewajipannya kepada saya atau tidak akan dapat
melaksanakan tujuan-tujuan di bawah.I understand, agree and consent Prudential (and any
third party appointed by Prudential on Prudential’s behalf) to collect, hold, use, delete,
disclose, transfer, and process in any other way, all my personal data, whether given now or
subsequently to Prudential from time to time, for the purposes of:(a) processing this
application or any other application to Prudential, whether made now or subsequently,
and/or enforcing any of Prudential’s rights and remedies arising from any agreement
entered into between Prudential and me pursuant to this application;(b) researching and
auditing, including but not limited to historical and statistical data;(c) data matching;(d)
safeguarding against non-disclosure or fraudulent application, proposal or claims;(e)
detection and prevention of fraud;(f) carrying out or performing any activity or obligations
in relation to or in connection with this application (including duties and obligations under
any agreement made pursuant to this application) or carrying out Prudential’s duties as an
insurance company;(g) communicating with me for any of these purposes.Saya memahami,
bersetuju dan membenarkan Prudential (dan mana-mana pihak ketiga yang dilantik oleh
Prudential sebagai bagi pihak Prudential) untuk mengumpul, memegang, mengguna,
memadam, mendedah, memindah dan memproses dalam apa-apa cara lain, semua data
peribadi saya, samada yang diberikan sekarang atau kemudiannya kepada Prudential dari
masa ke semasa bagi tujuan:(a)memproses permohonan ini atau sebarang permohonan
yang lain kepada Prudential, samada yang dibuat sekarang ataupun kelak, dan/atau
melaksanakan apa-apa hak dan remedi Prudential yang berbangkit daripada sebarang
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20. Anti-Bribery & The Agent must not offer any bribe or facilitation payment to any public official or other
Corruption person while carrying out the terms and conditions described herein, and must not cause
Prudential or any affiliate to violate any anti-bribery or anti-corruption law. Any
infringement of this Clause must be promptly reported in writing to Prudential by the Agent.
The Agent will be immediately removed from the program should the Agent breach this
Clause.
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□ PRUVenture
PRUVenture Application:
□ PRUVenture Gen-Z
PERSONAL INFORMATION
Agent Code:
CM900077 Date Contracted: 09-11-2022
(if contracted)
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Signature of Applicant
Name:
NRIC Number:
APPLICANT AND LEADERS CONSENT AND DECLARATION
I agree and support for the Applicant above (i.e: my Agent) to apply and follow PRUVenture terms and conditions
and fulfill the said requirements for the PRUVenture benefits. I hereby agree that should this declaration be false
or incorrect in any aspect, the Company may withdraw the Agent from PRUVenture application without assigning
any reason whatsoever. I have read, understood, agreed, and adopted the entire Data Privacy Declaration above
and give my consent for Prudential to collect, use and disclose my personal data in accordance to the Data Privacy
Declaration above.
Signature of Leader
Name:
Agency Code
□ Accept
□ Reject
PRUVenture Application
Received Date: Result
(Panel Interview)
□ Accept
□ Reject
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