Transamerica Life Bermuda Launches High Net Worth Life Insurance Guide for Financial Professionals

HONG KONG, Aug. 18, 2020 /PRNewswire/ -- Transamerica Life (Bermuda) Ltd. (TLB), a leading High Net Worth (HNW) life insurer, in partnership with Hubbis (HK) Limited ("Hubbis"), announced the launch of the "Guide to HNW Life Insurance - a Practical Handbook for Financial Advisors" ("Guide"). Sponsored by TLB as part of its Mastering High Net Worth (MHNW) programme, and prepared by Hubbis, the Guide is designed to help financial advisors, brokers and wealth managers understand the key dimensions of HNW life insurance and how to apply it in practice.

Transamerica Life Bermuda partnered with Hubbis to launch “Guide to HNW Life Insurance - a Practical Handbook for Financial Advisors”

From the different protection needs of HNW individuals to the types of life insurance products available that can meet different financial requirements, the comprehensive Guide covers an array of topics and aims to provide financial professionals with an overview of some of the key considerations with respect to the utilisation of life insurance -- helping them to help their customers secure their financial legacies.

Globally, the HNW population rose by nearly 9% to 19.6 million in 2019^[1]. It is estimated that by 2030, US$15.4 trillion of wealth will pass down through the generations. Life insurance continues to be a vital risk management tool and can be the foundation of a sound wealth management plan for the growing HNW segment.

As a leading life insurance company singularly focused on the HNW market, TLB is recognised for its award-winning products and services, as well as its unique expertise on the HNW life insurance market. Launched in December 2019, TLB's MHNW program provides its distribution partners with specialised insights, ideas, and resources to help them better serve the needs of HNW customers. As the latest resource under TLB's MHNW program, the Guide aims to equip financial professionals with an accessible tool to enhance their knowledge and skills in order to better serve their customers and maximise their opportunities in the growing HNW space.

Marc Lieberman, President and CEO of TLB, said, "The current uncertainty the world is facing in 2020 highlights the need for sound planning and the ability to adapt to fast changing events. As with other business sectors, the life insurance industry is facing an unprecedented convergence of challenges due to the COVID-19 pandemic. However, the financial needs of HNW individuals have not fundamentally changed during this time of economic volatility. In fact, their demand for solutions that can help to protect and maximise their financial legacy is greater than ever. There are real growth opportunities in the HNW segment and we are proud to be able to partner with Hubbis to bring this Guide to life. We hope this Guide will serve as a valuable resource to help our partners and other financial professionals to step up to meet those opportunities and add more value to their interactions with HNW customers."

"Hubbis is delighted to have the opportunity to partner with TLB in the creation of this Guide. HNW life insurance solutions have been centre stage in Asia's dynamic, expansive wealth market for many years," said Michael Stanhope, Founder and CEO of Hubbis. "In these challenging times -- there has never been a greater requirement for the industry to have needs-based conversations with clients -- and curate the right life insurance product to meet the ever-increasingly complex demands of legacy planning and wealth transfer in Asia. This Guide will help all market practitioners understand more about the options that exist today," he added.

"Guide to HNW Life Insurance - a Practical Handbook for Financial Advisors" is available to financial services professionals via Hubbis at https://pdf.hubbis.com/pdf/article/guide-to-hnw-life-insurance.pdf.

About Transamerica Life Bermuda:

Transamerica Life (Bermuda) Ltd. (TLB) is a recognised leading HNW life insurance provider with extensive expertise in all aspects of HNW wealth protection, including handling large sums assured and complex cases supporting legacy and business planning. Transamerica has been in Asia for over 80 years and has been a pioneer in managing universal life portfolios for almost 40 years. TLB was awarded an "Outstanding Achiever" award at the 10th Benchmark Wealth Management Awards in Hong Kong in the category for "High Net Worth Client Servicing" in 2019. TLB is part of the Aegon Group, a leading, international financial services group providing life insurance, pensions and asset management based in The Hague, Netherlands. Further information about TLB is available here: www.transamericalifebermuda.com

About Aegon:

Aegon's roots go back 175 years -- to the first half of the nineteenth century. Since then, Aegon has grown into an international company, with businesses in more than 20 countries in the Americas, Europe and Asia. Today, Aegon is one of the world's leading financial services organisations, providing life insurance, pensions and asset management. Aegon's purpose is to help people achieve a lifetime of financial security. Further information about Aegon is available here: www.aegon.com.

Photo - https://photos.prnasia.com/prnh/20200818/2888222-1?lang=0