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Transamerica Genesis II is designed to enhance your wealth while safeguarding your personal worth and preserving a lasting legacy for generations to come. It simplifies the options available (primarily 4) and one optimizes the growth potential over time by allocating or reallocating across various Index Account Options.
As with other universal life policies, Transamerica Genesis II is suitable for legacy planning through the equalization of inheritance for loved ones. In keeping up with the times, there is also the Insured Exchange Option.
Transamerica Genesis II Insured Exchange Option Allows the Insured to be changed to new Insured with new policy issued, subject to insurable interest and other conditions. The new policy will be issued with the same effective date as the original policy, but with an exchange date for the re-counting of suicide clause and incontestability.
Some things to note. This review post will get dated. And the product might not be available for new subscriptions at some point. Hopefully this serves as reference for future policyholders who have forgotten what they have taken up.
There can be shifts in planning narratives over time. For example, limited premium tenures gain popularity over the years because people are less confident of their future earning capacity or sustainability of income levels. Regular payout features gained popularity when more and more people are in tune with the FIRE (Financial independence retire early) movement. An extended period of low interest rates brought down insurance products’ returns yield for policy holders, but now in a rising interest rates environment, things are set to change.
Transamerica Genesis II may or may not fit into your financial plans. Understand that there is no best plan for all time, but there is a method to objectively facilitate your decisions. Read more about it here.
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