CTF Life cuts premiums as wealth transfer accelerates

The plan includes an 8% legacy benefit aimed at customers planning intergenerational wealth succession.

CTF Life has launched a savings insurance plan offering customers an upfront premium discount of at least 8% and an 8% legacy benefit as it targets wealth accumulation and intergenerational planning.

The Sky Leap 88 Savings Insurance Plan allows customers who attach the Value Enhance Option and pay the basic plan premium in full upfront to receive a limited-time first-year premium discount of between 8% and 10%.

The option also increases the Guaranteed Cash Value and Total Policy Value over the policy term and shortens the Guaranteed Breakeven Period and Projected Breakeven Period by one year. 

The plan has a projected internal rate of return of 6.5% by the 20th policy year, according to CTF Life.

CTF Life said its launch comes as wealth succession becomes a growing consideration, citing Hong Kong's Financial Services and the Treasury Bureau, which said $83t in private wealth is expected to be transferred between generations globally over the next two to three decades.