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New universal life plans gain ground as Singapore insurers woo the rich
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Insurers in Singapore say demand for Universal Life products from the super rich has grown the past few years as they seek to preserve and expand their wealth.
ST PHOTO: AZMI ATHNI
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SINGAPORE - Universal life (UL) policies, which combine life insurance and wealth accumulation features, are making a comeback post-pandemic after some tweaks, as well-heeled clients move to protect their wealth.
Market players told The Straits Times that demand from the ultra-high-net-worth set has grown in the past few years as members of the group seek to preserve their wealth and plan their bequests.
