Transamerica Life Bermuda Unveils Universal Life Alpha Pro And Universal Life Alpha Pro Century

HONG KONG,April 30,2021 --Transamerica Life (Bermuda) Ltd. (TLB),a leading High Net Worth (HNW) life insurance provider,today announced the launch of its new universal life insurance plans,Universal Life Alpha Pro (ULA Pro) and Universal Life Alpha Pro Century (ULA Pro Century). ULA Pro and ULA Pro Century will be available immediately through Singapore,Hong Kong and Bermuda from 30 April 2021.

Based on TLB's award-winning Universal Life Alpha Private Series product,ULA Pro and ULA Pro Century are refreshed for today's market environment,offering a suite of improvements to meet broader customer needs. The new enhanced plans provide a unique combination of permanent life insurance coverage,cash value growth potential,and inherent design flexibilities that HNW individuals' desire.In addition,ULA Pro Century features an added "no lapse guarantee" benefit that offers HNW customers certainty that their coverage will last to age 100.

Key features and benefits of ULA Pro and ULA Pro Centuryinclude:

Lifetime insurance protection – Death benefit^ designed to last a lifetime,providing for secure family protection,legacy planning,and estate liquidity goals.

Cash value growth potential – Steady stream of interest at rates TLB declares,which will never be lower than 1.50% per annum. Starting from policy year 26,the account value will be credited with an additional interest based on the loyalty bonus crediting interest rate of 1.00% per annum until the insured's age 100.

Flexibility – Customers may choose to pay by single premium or planned premiums over a duration of choice with an option to contribute additional unscheduled premiums at any time+,giving customers the ability to plan around their lifestyle needs.

Access to policy value# – Customers may make withdrawals on the policy's net cash value subject to surrender charges and other limitations at any time after the cooling-off period. From policy year 11 onwards,withdrawals up to 5% of the account value per policy year is allowed without incurring a surrender charge.

Insured exchange option – The insured life can be changed during the life of the policy,subject to underwriting approval and other conditions##,providing seamless transition and transfer of wealth as needed.

Business protection – Key protection for a variety of business needs such as key person protection,business loan coverage,and business continuity coverage,amongst others.

Key feature applicable only to ULA Pro Century:

No-lapse guarantee benefit – Keeps the policy in-force until the no-lapse guarantee period expires (up to insured age 100)^^,even if the cash value of the policy is insufficient to cover all the fees and charges due for the policy,provided that certain conditions are satisfied.

"The volatile market environment today is driving HNW customers' desire for increased certainty and security.ULA Pro and ULA Pro Century are our direct response to the changing needs and demands of our customers and reflects their desire for solutions that can safeguard their wealth while still giving them the flexibility to tailor it to their different stages of life," said Chirag Rathod,CEO of TLB. "We remain steadfast in our commitment to develop innovative,tailored insurance solutions that meet the unique needs of HNW customers,providing them the peace of mind that comes with knowing that their legacy is protected for generations to come," he added.

^For Universal Life Alpha Pro Century (Hong Kong) policies,where the no lapse guarantee benefit is activated,the death benefit payable will be 80% of the sum assured,less the amount of any outstanding policy loans and any amount necessary to provide insurance to the date of the insured's death if the insured's death occurs during the grace period.

+ Subject to TLB's approval and the premium limitation provision as stipulated in the policy contract.

#For Universal Life Alpha Pro Century (Hong Kong) policies,withdrawals and policy loans will not be available when the no lapse guarantee benefit has been activated.

##For Universal Life Alpha Pro Century (Hong Kong) policies,insured exchange option will not be available when the no lapse guarantee benefit has been activated.

^^The maximum no lapse guarantee period is the insured's age 100. You should refer to the no lapse guarantee period as specified in the current illustration of your policy.

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.