Jet Calendar

全美人寿百慕达:为您策划舒适退休生活

Jet Asia Pacific - - Contents - By Marc Lieberman, President and Chief Executive Officer of Transamerica Life (Bermuda) Ltd.全美人寿(百慕达)有限公司总裁兼首席执行官 Marc Lieberman

Almost half of all High Net Worth (HNW) and Ultra High Net Worth (UHNW) individuals do not have a retirement plan in place. This was one of the findings from our annual survey conducted in collaboration with Asian Private Banker. Titled ‘Exploring High Net Worth Retirement Solutions’, the report further revealed that among those who have planned for retirement, a significant 73 per cent are not confident or only somewhat confident with their current plans.

This is despite what industry experts term the largest ongoing transition of wealth in history, as Asia’s first generation of billionaires and multimillionaires prime themselves to pass on upwards of US$300 billion to their younger kin by 2040 (UBS-PWC Billionaires Report, 2016).

As affluent families navigate today’s unpredictable financial markets, family wealth transfer and succession planning are the top two factors that keep them up at night, followed closely by immediate family crises. UHNW individuals in particular are concerned about potential legal complexities and bureaucratic barriers that may give rise to liquidity issues.

Our survey also revealed that almost three out of five HNW and UHNW individuals surveyed are keen to purchase life insurance for retirement purposes. Among the three most important product benefits they look for when considering life insurance as a retirement solution are: a high coverage amount, regular income pay-out, and the death benefit.

With all the financial tools at their disposal, Asia’s wealthy have begun turning to life insurance as a potential retirement tool to achieve financial security and maintain one’s lifestyle, while maximising efficiency in legacy planning. Over the last few years, they have grown to appreciate its value as a low to moderate-risk wealth tool that can deliver both protection and potential returns. This is closely linked to the benefits that life insurance policies can offer, such as asset diversification, potential for additional leverage and long-term cash value growth that is accessible when needed.

Retirement planning is a process that constantly evolves through one’s different phases in life, as one’s

needs and priorities change over the years. We found that (U-) HNW individuals in their 30s are primarily concerned about their immediate family and rising education and healthcare costs for their dependents. Succession and inheritance planning then becomes a priority for those in their 40s as they look to ensure that their wealth is successfully transferred to the next generation.

Moving into one’s 50s, the priorities of an (U-)HNW individual shift toward lifestyle preservation. They aim to secure viable sources of retirement income to maintain their lifestyle, participate in philanthropic activity and address their healthcare needs – the latter being the main concern for wealthy preretirees.

Wealthy retirees who prefer to keep their assets liquid are able to do so with retirement-focused insurance. Those who wish to secure lifetime income for retirement can also opt for retirement-focused insurance plans with guaranteed regular income pay-outs.

At present, retirement planning is not frequently seen as a reason to initiate a discussion with one’s relationship manager (RM). Many (U-)HNW individuals realise the need to start planning for retirement in the case of trigger events, for instance the passing of a family member, medical issues, childbirth or succession planning. In this light, retirement planning and life insurance are increasingly intertwined as both address the same concerns. Demand for life insurance is expected to remain robust over the next 24-36 months, with particularly positive interest in retirement-focused insurance plans.

With assets managed by Asia’s top 20 private banks climbing 6.1 per cent to US$1.55 trillion in 2016 (Asian Private Banker, 2017) , it is heartening that more than two out of three end-clients surveyed have been with their current RMS for more than five years. 76.5 per cent of them also shared that they trust their RMS to present solutions that fit their needs and wants.

As Asia continues to experience a wave of intergenerational wealth transfer in the coming years, it is key that (U-)HNW individuals actively engage their wealth managers around their changing needs and priorities. Planning ahead for retirement helps ensure prudent wealth management, and provides for financial security, legacy planning and lifestyle maintenance in one's later years.

根据我们与亞洲私人銀行家合作进行的年度调查结果显示,近半高净值人群( HNW)和超高净值人群( UHNW)没有预先制定退休计划。这份名为“探索高净值人群退休解决方案”的报告进一步指出,预先制定好退休计划的人士当中,大部分人( 73%)对目前的计划没有信心或信心不大。

但行业专家称目前是历史上最大规模的财富转移时代,因为(瑞银普华永道亿万富豪报告2016)预计到了2040年,亚洲第一代亿万富翁和千万富翁会将3,000多亿美元的财富传给他们的下一代。

富裕家庭面对当今难以预测的金融市场,家族财富转移和继承规划是最让他们寝食难安的两大主要因素,紧随其后的是即时家庭危机。超高净值人群尤其担心潜在的复杂法律问题和官僚障碍,可能会引起资金流动方面的问题。

我们的调查还显示,近五分之三的受访高净值人群和超高净值人群热衷于购买人寿保险作为退休保障用途。在考虑以人寿保险作为退休保障解决方案时,他们最重视的三项产品优点是:高覆盖额、定期退休收入和死亡赔偿金。

随着越来越多的金融工具可供选择,亚洲富豪开始将人寿保险视为保障财政稳健和维持现有生活方式、同时实现遗产规划最大效益的潜力退休工具。过去几年,全凭人寿保险政策可以带来的好处,比如资产多样化、额外运用潜力、以及有需要时可以随时调动的长期现金价值增长,让他们越来越看重人寿保险作为一种可以提供财政保障和潜在回报的低至中等风险财富工具的价值。

随着人们在人生不同阶段有不同的需要和优先考虑事项,退休计划也会不断转变。我们发现, 30多岁高净值人群和超高净值人群主要关心自己的直系家属,并为其受养人累积教育和医疗保健资金。40多岁人士希望确保自己的财富能够成功传给下一代,因此继任和财产继承计划成为他们的优先考虑事项。

踏入50岁,高净值人群和超高净值人群的重点转向保持现有生活方式。他们希望确保可靠的退休收入来源,以维持现有的生活现状、参与慈善活动、并满足他们的医疗保健需求,最后一点是准备退休的富裕人士最关注的一点。

倾向保持资金流动性的富裕退休人士可以购买以退休为重点的保险计划,这种计划也适合希望可以终身领取定期退休收入的人士。

目前,退休规划并非客户与关系经理经常讨论的主题。许多高净值人群和超高净值人群明白应该及早未雨绸缪,为退休进行规划,以应付突如其来的挑战,例如家庭成员离世、医疗问题、生育或继任计划等。因此,退休计划和人寿保险逐渐结合一起,因为两者都同样关注相同的问题。预计在未来两三年,市场对人寿保险的需求将继续保持强劲,尤其是以退休为重点的保险计划。

由亚洲前20私人银行管理的资产,在2016年增长6.1%至1.55万亿美元(亞洲私人銀行家2017),令人鼓舞的是,超过三分之二的受访终端客户与其目前的客户关系经理合作五年以上,其中76.5%的受访者也表示相信其客户关系经理提供的解决方案可以符合他们的需求和愿望。

随着亚洲在未来几年继续经历跨代财富转移浪潮,高净值人群和超高净值人群必须积极与他们的财富管理经理合作,以满足其不断变化的需要和优先考虑事项。提前为退休作好规划有助确保谨慎的财富管理,并为晚年的生活提供财政保障、遗产规划和保持原有生活方式。

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