The Infinite Legacy plan aims to preserve wealth and grow the “legacy that you want to leave behind for your loved ones”.
Lance Tay, general manager of life insurance at China Taiping, said: “For estate planning, besides wealth preservation, it is important to have an asset diversification strategy while expanding the estate.
“With this in mind, the Infinite Legacy comes with a high protection element of up to 3.5 times of the sum assured that amplifies the estate.”
The features of the plan include:
- One-time premium payment for lifetime protection against death and terminal illness;
- Multiply the protection coverage of up to 3.5 times of the sum assured till age 86;
- Guaranteed cash value equivalent to 80% of the single premium from day one;
- 100% capital guaranteed at the end of the 20th year;
- Offers preferential premium rates for good health; and,
- Available to anyone between ages 1 and 70.
Tay added: “Given the complexity of assets owned by high net worth clients, it may be a challenge when it comes to distribution of illiquid assets such as properties, businesses etc.
“It is everyone’s wish for family harmony and a smooth legacy transfer. Infinite Legacy offers liquidity in the estate when it is most needed.
“Not only does it ensure the distribution of wealth as one wishes, but it also keeps one’s assets intact and maintains harmony within the family.”