TLB unveils upgrades to Genesis II life insurance plan

TLB unveils upgrades to Genesis II life insurance plan | Insurance Business Asia

Life & Health

TLB unveils upgrades to Genesis II life insurance plan

Upgrades to include more options for wealth preservation goals

Life & Health

By
Jonalyn Cueto

Transamerica Life (Bermuda) Ltd. (TLB) has launched its enhanced indexed universal life (IUL) insurance plan, Genesis II IUL (Genesis II), targeting high-net-worth individuals (HNWIs).

This upgraded plan aims to fortify wealth protection and optimization strategies with a host of new features.

Genesis II offers expanded coverage, including protection for infants and juveniles, and an array of index account options, catering to diverse family and business needs. Jeremy Young, TLB’s chief commercial officer, emphasized the plan’s adaptability to evolving customer requirements.

“The upgraded Genesis II Indexed Universal Life insurance plan also allows us to better serve a more diverse group of target customers across the globe as we strive to diversifying our offerings and distribution approaches to drive overall business growth over the coming years,” Young said in a press release.

The plan’s flexibility allows clients to opt for a fixed account, index account, or a combination of both, as well as allocate funds across the accounts, tailoring their policies to match evolving wealth preservation objectives. Genesis II introduces innovative index account choices to seize investment opportunities while mitigating market volatility. Notably, the US market index account offers diversification across market capitalization segments, enhancing return potential with reduced volatility. Additionally, TLB pioneers Shariah-compliant index accounts, aligning with the ethical preferences of certain investors.

Chirag Rathod, TLB’s CEO, highlighted the plan’s timely response to changing investment sentiments among HNWIs.

“The introduction of Genesis II Indexed Universal Life insurance plan is not only timely in providing greater flexibility for our customers to seize investment opportunities amid market volatility, it also underscores our longstanding commitment to pioneering new and innovative ways in safeguarding their wealth with a lifetime of financial security,” he said.

TLB is a HNW life insurance provider that specializes in HNW wealth protection. TLB’s accolades include “Outstanding Responsible Insurer (2021)” award and the “Best-in-Class (2021)” award for its Universal Life Alpha product. TLB is a part of the Aegeon Group, a financial services group that provides investment, protection, and retirement solutions.

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