A firm provides insurance policies designed to help with wealth structuring and transfer in the Asia-Pacific region.

Transamerica Life Bermuda has launched what it calls a universal life legacy policy for high net worth individuals in Hong Kong and Singapore, designed to enable wealth transfer and legacy planning. 

The policy involves a single up-front payment of at least $100,000. The lifetime income works in the following way: starting from the fifth policy year, owners obtain regular income. Death benefits are passed to a designated beneficiary of the insured person or the second to day in the case of joint insureds, the firm said in a statement. 

Transamerica is part of the Aegon Group, which is a life insurance, pension and asset management company headquartered in the Netherlands. It is present in the Americas, Europe and Asia. Transamerica Life (Bermuda) Ltd is incorporated in Hamilton, Bermuda, has branch offices in Hong Kong and Singapore.

To see an example of how insurance policies of different types, including critical illness cover, are being understood as part of the wealth management toolbox, see here.