Transamerica Life Bermuda launches Genesis II Indexed Universal Life insurance plan for wealth maximization and lifetime protection

Greater flexibility to align personal priorities and family goals with enriched life benefits

According to a
research, more than half of HNWIs in the Asia-Pacific (APAC) region indicated that protecting their families and ensuring they are cared for is a clear and consistent goal, but more needs to be done in terms of alignment and structuring of their family assets. Additionally, more than half indicated they needed a balance between their values, beliefs and returns in their insurance portfolios.

Jeremy Young, Chief Commercial Officer at TLB, said: “While offering our customers a greater variety of options and personalized solutions to meet the specific needs of their family and business, the Indexed Universal Life Insurance plan Improved Genesis II also allows us to better serve a more diverse customer base. diverse group of target customers across the globe as we strive to diversify our offerings and distribution approaches to drive the overall growth of our business in the years to come.

Genesis II clients can opt for a fixed account, index accounts or a combination of both, and transfer funds between accounts under a policy tailored to their evolving needs for maximizing and preserving their wealth.

A broader and innovative choice of index account options to seize opportunities and maximize wealth

Reflecting the evolving needs of wealthy clients to align their personal priorities and family goals, Genesis II incorporates a broader selection of index account options. In addition to a targeted index account tracking the performance of a major index and a global index account covering three major indexes around the world, two new index account options have been added for Genesis II:

• US Stock Index Account: This index account is linked to US stock indices covering the three major market capitalization segments, namely large, mid and small cap, to form the best performance framework and ensure diversification across US companies of different sizes. sectors. sizes and growth stages. A special feature of the US Market Index Account is that each year it combines the performance of large caps with the best performing segment between mid and small caps, in order to help minimize volatility while improving return potential.

• Shariah Compliant Index Account: Linked solely to a Shariah Index, this option focuses on Shariah Compliant constituents. The index company applies a screening process to exclude companies involved in activities prohibited by Islamic law, such as those related to alcohol, gambling, pork, interest-based financial services and to certain forms of entertainment.

Chirag Rathod, CEO of TLB, said: “HNWI investment sentiments and strategies are changing to reflect changing priorities and we need to ensure we are there to support the changes.” Chirag added: “The introduction of the Genesis II Indexed Universal Life Insurance plan is not only timely as it provides our customers with greater flexibility to pursue investment opportunities amid market volatility, but it also highlights our long-standing commitment to inventing new and innovative ways to protect their wealth with a lifetime of financial security.

The launch of Genesis II aligns with TLB’s growth ambition by making the business more accessible and tailored to a wider variety of preferences of our distribution partners, brokers and banks. Through the diversification of our product offerings, we are able to better meet the unique needs of our customers as a provider of globally aligned and locally relevant HNW insurance solutions.