With Right Life Insurance Policies, You Can Secure Wealth For The Next Generation
Singapore Tatler|December 2018

With the right life insurance policies, high-net-worth individuals can secure wealth for the next generation, Manulife Singapore CEO Khoo Kah Siang tells Terence Lim

Terence Lim
With Right Life Insurance Policies, You Can Secure Wealth For The Next Generation

With strong wealth creation in Asia in recent years, there has been a spike in the interest among high-net-worth individuals (HNWI) in platforms and solutions to facilitate wealth transfer to future generations. This explains the popularity of life insurance solutions such as universal life policies among affluent families. Such products are typically low-risk wealth management tools that also provide insurance coverage and often marketed as an instrument for legacy planning. But do HNWIs really require insurance for their wealth and assets? On initial thought, the answer may be a no. But that should not be the case, says Khoo Kah Siang, CEO of financial services group Manulife Singapore.

“Is there a need for HNWIs to be insured? The answer is yes,” he shares. “People tend to invest a lot of funds into their businesses and, as a result, they may not have the cash flow to purchase a large policy to protect their assets. Life insurance is an asset in itself because of the capability of the policy to be financed. Banks can use it as collateral and the policy holder can use it for instant protection for the family without a significant cash outlay.”

This story is from the December 2018 edition of Singapore Tatler.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the December 2018 edition of Singapore Tatler.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM SINGAPORE TATLERView All
How To Live Like A Royal In The British Countryside
Tatler Singapore

How To Live Like A Royal In The British Countryside

From Windsor to Bray, all it takes is a speedy jaunt away from the hustle and bustle of London to gain first-hand insights into the lives of the British royal family

time-read
5 mins  |
March 2024
Where Science Meets Skincare
Tatler Singapore

Where Science Meets Skincare

Through years of research, Chanel has determined the relationship between skin health and well‑being based on neuroscience technologies—and it has the products to prove it

time-read
4 mins  |
March 2024
Powder, Peaks And Pro Tips
Tatler Singapore

Powder, Peaks And Pro Tips

Embark on a winter wonderland getaway with this Tatler guide to all things ski, from the best destinations in Asia and Europe to looking chic on the slopes

time-read
8 mins  |
February 2024
HAUTE SPOTS
Tatler Singapore

HAUTE SPOTS

Nearly 15 years since her first visit to Niseko, Grace Chong-Tan’s love for this popular ski town in Hokkaido, Japan, continues to grow over the years. The founder and managing director of a dental practice shares her must-visit list

time-read
1 min  |
March 2024
THE GOLDEN AGE
Tatler Singapore

THE GOLDEN AGE

At the launch of the L'Or de Jean Martell collection in Cognac, France, Martell's cellar master Christophe Valtaud unveils the first limited-edition expression of the Réserve du Château series

time-read
3 mins  |
March 2024
KINGDOM REIGN
Tatler Singapore

KINGDOM REIGN

How UAE's largest property developer Aldar is transforming Abu Dhabi into a land of real estate gold for the investment-seeking jetsetter elite

time-read
5 mins  |
March 2024
LET'S GET (META) PHYSICAL
Tatler Singapore

LET'S GET (META) PHYSICAL

Contrary to popular belief, the traditional practices of feng shui and ba zi are not only alive and well, but thriving among the younger set. Today's masters of Chinese metaphysics share how they are modernising the craft

time-read
6 mins  |
March 2024
COMING OF AGE
Tatler Singapore

COMING OF AGE

Meet the ladies at the front and centre of last year’s Le Bal des Débutantes

time-read
4 mins  |
March 2024
The Path to Parity
Tatler Singapore

The Path to Parity

Four prominent Singapore female leaders shed light on the under-representation of Asian women in global leadership through the lens of their own struggles and triumphs

time-read
8 mins  |
March 2024
Set in Stone
Tatler Singapore

Set in Stone

Tatler chats with Victoria Reynolds, the chief gemologist and vice president of Tiffany & Co, about the intricacies of design, her favourite jewellery and what it means to be a female leader in a male-dominated industry

time-read
5 mins  |
March 2024