Insurer HSBC Life has launched of HSBC Aspire Prime Indexed Universal Life to professional investors seeking flexible investment options, with downside protection features to support legacy planning.

This timely launch, says the insurer, responds to evolving regulatory developments in indexed universal life insurance in Hong Kong and the surging demand from high-net-worth individuals for a broad range of legacy solutions. 

The wealthiest families in Asia-Pacific, according to research by McKinsey & Company in its Asia–Pacific’s Family Office Boom: Opportunity Knocks report, are set to transfer an estimated US$5.8 trillion by 2030, fuelling increased interest in insurance products. 

The HSBC Aspire Prime Indexed Universal Life is a life insurance product designed to provide policyholders with the opportunity to capture potential growth in leading indices, including S&P 500, Hang Seng index and the LBMA Gold Price index USD AM.

The tracking of the gold price index is a first in the market, the insurer notes, providing policyholders an opportunity to diversify their investments beyond equities.

The product offers two account options for policyholders to allocate their premiums: index and  general. Premiums directed to the index account are linked to the performance of the indices, while those allocated to the general account accrue daily interest. This flexible structure, the insurer argues, allows policyholders to tailor their investment strategy based on their financial goals and risk appetite.

“We see a strong demand from wealthy clients across Asia showing interest to allocate their wealth into insurance products,” adds Daisy Tsang, the insurer’s CEO for Hong Kong and Macau. “We have seen our new business premiums from high-net-worth clients double year on year.  We are confident in sustaining this growth momentum by continuously enriching our product offerings tailored to this exclusive segment.”