The traditional way of handling insurance policies involved making calls, documents as well as wait times. Policy holders are now changing the way they engage the insurance providers due to the digital platforms. This article provides the benefits of using myPrudential online policy management in managing policies. This is because by understanding these advantages customers are able to reap the maximum out of their insurance experience.

Merits of using myPrudential online portal for policy management

24/7 policy access from anywhere

The policyholder is able to check all his insurance details any time without going to offices or waiting to extend office hours. This is the direct accessibility putting the control into the hands of the customers as and when required. The following are the benefits of access of myPrudential:

• Round-the-clock availability: 24 hours of availability to policy information on a daily basis, seven days a week, and twenty-four hours a day, weekdays.
• Global access capability: You can log in anywhere in the world provided you have the internet and this is the best option when traveling policyholders are using the service.
• Instant policy viewing: The amounts of a needed premium and policy value and current coverage show immediately on login.
• Multi policy dashboard: All policies of Prudential displayed on one account to view portfolio.
• Historical data retrieval: Statements and records of past transactions that could be accessed at any time and at any point of reference.

Simplified premium payment management

Making insurance payments is now easy with in built payment services and reminders. No longer lost payments or billing statement search. The following are payment benefits that the policyholders will enjoy:

• Automated payment setup: Automatic payments of the premiums taken to avoid the cases of default lapse of the policy.
• Payment method updates: Instantly update payment method without any paper work, credit card or bank account.
• Payment history viewing: Full record of all the premium payments to be viewed on a verification basis.
• Due date reminders: Messages which are issued ahead of due payment dates which assure timely premium payments.
• Multiple payment options: Select various payment channels such as bank transfers and credit cards.

Instant policy changes and updates

A lot of changes in policies can be done online without the use of forms and visits to the agent. This is very time saving and it saves on administration work. The following are the self-service benefits offered by myPrudential:

• Address updates: Information on changed residence entered instantly using simple online form.
• Beneficiary modifications: Portal-based updates of qualifying policy beneficiary designations.
• Contact detail changes: Phone numbers and email address modernized without any paper work.
• Premium adjustment requests: There are policies that permit changes in the amount of coverage via online interface.
• Investment fund switches: In investment-related policies, allocation of funds changed independently.

Digital document repository

All significant policy documents are kept safe under one roof and can be accessed on a need basis. Dropped paperwork and filing cabinets are gone. The following are the document management advantages provided by myPrudential;

• Policy schedules access: Up to date policy documents are accessible for downloading or printing any document any time.
• Annual statements: Annual policy statements which are stored digitally to be easily referred to in order to file taxes.
• Tax receipt retrieval: Premium money payment receipts that would be available during the tax filing period instantly.
• Correspondence history: History of correspondence with insurer stored to be availed in case of necessity.
• Claim documents: Claims forms and documents have been made accessible through a single portal.

Explaining the frequently asked questions

Is myPrudential safe in the management of insurance policies?

All the personal and financial data is secured by advanced encryption and multi-factor authentication.

Should I have different accounts in case of various policies?

It allows access to all the Prudential policies that one has on a single myPrudential account.

Is myPrudential accessible through mobile devices?

Yes, mobile responsive design and native applications offer mobile convenient access.

Are the policy transactions available on the internet?

The majority of the transactions that can be done online and the most complicated cases provide the agent assistance.