SINGAPORE (Jan 21): On Jan 13, China Taiping Insurance launched a universal life product, Infinite Universal, a non-participating universal policy, designed for high net worth individuals with a minimum sum assured of US$500,000.

Infinite Universal has flexible premium payment. It can be a single premium product, or paid over a number of years. Flexibilities include the premium amount, frequency of payment and change of life insured.

Universal life insurance policies are targeted at the wealthy, providing legacy and estate planning. They also are able to support business continuity. In some cases, policies are able to provide liquidity, including for businesses by funding buyouts for mergers and acquisitions in the event business partners have insufficient ready funds.

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