Life Insurance as a Private Bank Wealth Management Strategy
Life insurance often is a financial strategy in one’s private bank wealth management.
In many Swiss Banks, a life insurance is often tuned and catered specifically to protect the clients and also to protect the banking assets in case something like the catastrophic AIG situation ever occured. This is an instrument that protects both the clients’ assets in case of untimely investment demise or death; and also for the banks’ own asset protection in case of liquidity problems and also to be able to claim perhaps a portion of losses from a client in case of risky investment losses from clients’ borrowings.
Read more of what this blog “Private Bank Innovation” has to say…
[[Life insurance can address many needs of private banking customers, such as estate planning, capital protection or tax optimization, to name a few. Newer generations of life insurance products – in particular variable annuity (VA) products and private placement life insurance (PPLI, also called insurance wrappers) allow for flexible, transparent and need-based diversification of wealthy clients’ portfolios, thus offering an interesting alternative to trusts or foundations.
In our video interview, Dr. Ivo Furrer, CEO Switzerland of SwissLife and member of SwissLife’s Corporate Executive Board provides valuable insights into a range of topics concerning the use of VA and PPLI products in the private and affluent banking segments. In particular, Dr. Furrer talks about
*the range and combination of customer needs addressed by these types of products,
*ways and means for private banks to position PPLI, but also VA products in their market offering, and
*the approach SwissLife takes in marketing these products, describing the importance of multi-channel and business-to-business marketing.]]
