Transamerica Life Bermuda Launches Wealthassure Universal Life to Meet Evolving Needs of High Net Worth Customers

HONG KONG,July 7,2020 -- Transamerica Life (Bermuda) Ltd. (TLB),a leading High Net Worth (HNW) life insurance provider,today launched its new universal life plan,Wealthassure Universal Life ("Wealthassure"). Aimed at maximising high net worth individuals' (HNWIs) wealth protection while strengthening their legacy and retirement planning,the new life insurance product integrates capital accumulation and protection with the flexibility to access cash for wealth and lifestyle goals,offering HNWIs the best of both worlds.

Wealthassure is specially designed for HNWIs who are seeking a life insurance solution that offers capital preservation and stable returns while complementing their overall goal for achieving an integrated,balanced wealth management plan.

Wealthassure is specially designed for HNWIs who are seeking a life insurance solution that offers capital preservation and stable returns while complementing their overall goal for achieving an integrated,balanced wealth management plan. By offering easy access to liquidity,be it in the near or long term,Wealthassure helps to provide for life's planned and unplanned events. In addition,its continual wealth accumulation and protection features offersurety to HNWI's wealth management planning at low risk,enabling them to pass their wealth seamlessly on to the next generation.

Key features and benefits of Wealthassure include:

A 3.50% lock-in crediting interest rate per annum for 5 years – providing surety of returns for customers in a time of market volatility;

Capital preservation feature – the quick breakeven point ensures a high level of liquidity and cash value for the customer,all of which are dedicated to and maximised through the accumulating interest earned by the policy;

There is no medical examination required – making it easy to buy;

Two premium payment options – the insured can choose to pay the premium either through a single premium payment option or a periodic premium payment option spread over 5 years;

Flexible access to cash value– allows access to the policy's cash value through partial withdrawals. Its convenient systematic withdrawal option also enables automatic annual / semi-annual payments from policy year 11 onwards;

101% death benefit– which is provided to the beneficiaries; and

An Insured Exchange Option – the insured party may be changed once during the life of the policy.

"With our singular focus on the HNW market,we are continually strengthening our product suite to meet our HNW customers' needs by developing innovative products that help them to maximise their wealth protection,while supporting their legacy and retirement planning," said Marc Lieberman,President and CEO of TLB. "The current economic uncertainty and global health concern over COVID-19 are driving HNWIs' desire to have stronger capital protection along with a cash cushion that helps them meet their lifestyle needs while safeguarding their financial legacy. Wealthassure is our answer to their need for a life insurance solution that provides capital surety and flexibility while giving them peace of mind from knowing that their loved ones are protected from any unfortunate event," he added.

- End -

# # #

About Transamerica Life (Bermuda) Ltd.:

Transamerica Life (Bermuda) Ltd. (TLB) is a recognised leading HNW life insurance provider with extensive expertise in all aspects of HNW wealth protection,including handling large sums assured and complex cases supporting legacy and business planning. Transamerica has been in Asia for over 80 years and has been a pioneer in managing universal life portfolios for almost 40 years. TLB was awarded an "Outstanding Achiever" award at the 10th Benchmark Wealth Management Awards in Hong Kong in the category for "High Net Worth Client Servicing" in 2019. TLB is part of the Aegon Group,a leading,international financial services group providing life insurance,pensions and asset management based in The Hague,Netherlands. Further information about TLB is available here: www.transamericalifebermuda.com

About Aegon:

Aegon's roots go back 175 years – to the first half of the nineteenth century. Since then,Aegon has grown into an international company,with businesses in more than 20 countries in the Americas,Europe and Asia. Today,Aegon is one of the world's leading financial services organisations,providing life insurance,pensions and asset management. Aegon's purpose is to help people achieve a lifetime of financial security. Further information about Aegon is available here: www.aegon.com.