Universal Life Alpha Pro (Hong Kong) is a flexible premium universal life plan that support your estate or business planning by providing life protection while at the same time, allowing wealth accumulation and preservation.
This is a generic product overview. For detailed terms and conditions, please refer to the policy contract.
Benefit highlights
Lifetime insurance protection
Death benefit is designed to last a lifetime, providing for secure family protection, legacy planning and estate liquidity goals.
Cash value growth potential
- Your policy earns a steady stream of interest at rates we declare, which will never be lower than 1.50% per annum.
A loyalty bonus crediting interest rate further enhances your long-term cash value growth potential. 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 to meet your needs
- This is a flexible premium policy. You can choose to pay by single premium or by planned premiums over a duration of your choice. You may also contribute additional unscheduled premiums at any time.
- You can decrease the amount of protection, i.e. the sum assured, and take money from your policy when needed, subject to the terms and conditions of the policy contract.
Access to your policy value - At any time after the cooling-off period, you may withdraw a portion of the policy’s net cash value, subject to surrender charges and the limitations that are stipulated in the policy contract. Withdrawals reduce the sum assured of the policy by the sum of the amount of any withdrawal and any surrender charge that may be applicable, except withdrawals made under the surrender charge-free withdrawal provision.
- Starting from policy year 11, you may make a withdrawal, up to 5.00% of the account value per policy year without incurring a surrender charge. The amount of the surrender charge-free withdrawal will not reduce the sum assured.
You may take a loan from your policy when needed, provided certain conditions are met.
Insured exchange optionAllows the insured life to be changed during the life of the policy – enabling the policy to adapt to different needs, as well as supporting wealth transfer to the next generation, subject to underwriting approval and other conditions.
Business protection uses
Provides protection for a variety of business needs:
- Key person insurance
- Employee benefit insurance
- Business continuity insurance (partnership and companies)
- Business loan coverage
For details, please check with your financial representative
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Disclaimer
Universal Life Alpha Pro (Hong Kong) (Policy Form No. UL21 HK) is a universal life insurance policy underwritten and issued by Transamerica Life Bermuda, a company incorporated in Bermuda. Policies to which these materials relate are only available in Hong Kong. Insurance eligibility and premiums are subject to underwriting. In the event of suicide during the first two policy years, death benefits are limited to the return of premiums paid (less any withdrawals, outstanding policy loans and loan interest due).
This publication is only an overview and is not an offer to sell or a solicitation to buy any of Transamerica Life Bermuda’s products. It is provided for informational purposes only and should not be construed as financial, tax or legal advice. Clients and other interested parties should seek independent financial, tax and legal advice. All case studies and other illustrations or examples given in this publication are for informational and illustrative purposes and do not predict future performance. The actual premiums, charges and benefits are dependent on factors including the insured’s age, gender, risk class, smoking status and country of residence. All monetary values reflected in these materials are in U.S. dollars. This information is current as of October 2025. Clients and other
interested parties should refer to the policy contract for detailed terms and conditions. Although care is taken in preparing this material, Transamerica Life Bermuda disclaims any express or implied warranty as to the accuracy of the content and any liability with respect to it. For further information, please contact Transamerica Life Bermuda’s distributors.
The policy contracts for the products described in this Product Summary are prepared in English. In the event of any conflict or inconsistency between the contents of this Product Summary and the relevant policy contracts, the relevant policy contract shall prevail. In the event of any conflict or inconsistency between the contents of the English and Chinese versions of this Product Summary, the English version of this Product Summary shall prevail.