Transamerica Life (Bermuda) (TLB) has launched its latest term life insurance plan Trendsetter Ultra Term Life.
Trendsetter Ultra will be available immediately in Bermuda and Hong Kong, with plans to roll out in Singapore in the near future.
The life plan is specially designed for high net worth individuals (HNWIs) who require high levels of insurance coverage for their personal or business needs.
It provides pure protection for a specific period and defined amount. It is intended for customers who do not need or want the commitment required by permanent insurance policies.
Chirag Rathod, chief executive of TLB, said: “Given recent economic trends around the world, we’ve seen more HNWIs seeking pure protection products for personal and business protection needs.
“Our distribution partners also have asked for a more flexible, competitive term product – with the ability to underwrite high levels of cover. Our new Trendsetter Ultra is a natural fit.”
TLB is part of the Aegon Group.