AXA Calculator

AXA Education Calculator is published for general information only and does not have regard to the specific investment objectives, financial situation and financial needs of any person. Please take note that it provides estimated figures for example only and you should not take this as financial advice.

AXA Early Saver is used purely as an example of how a particular life insurance product may be used to meet your financial needs. Please take note that there are other financial products that could also be used to meet your financial needs. AXA Early Saver is a plan underwritten by AXA Life Insurance Singapore Private Limited. This AXA Education Calculator is not a contract of insurance. The precise terms and conditions of the plan are specified in the policy contract. A product summary in relation to AXA Early Saver is available and may be obtained from AXA Life Insurance Singapore Private Limited. You should read the product summary before deciding whether to purchase the policy.

If you would like to consider buying a life insurance policy to fulfill your financial needs, we recommend that you seek advice from a financial consultant before making a commitment to purchase any life insurance product. In the event that you choose not to seek advice from a financial consultant, you should consider whether the product in question is suitable for you. Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value may be less than total premiums paid.

The insurance policy featured in this AXA Education Calculator is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you should you buy the policy. For more information on the types of benefits that are covered under the Policy Owners’ Protection Scheme as well as the limits of coverage, where applicable, please visit the AXA website at www.axa.com.sg or visit the LIA or SDIC websites (www.lia.org.sg or www.sdic.org.sg) for a copy of the SDIC Guide on PPF Scheme (Life Insurance).

Total 4-year tuition fee is based on the average of the latest degree costs released by the Top 3 Universities from QS World University Rankings 2015/2016 for each country:

Singapore: National University of Singapore, Nanyang Technological University and Singapore Management University

Australia: Australian National University, University of Sydney, University of Melbourne

UK: University of Cambridge, University of Oxford and London School of Economics

US: Massachusetts Institute of Technology, Harvard University and Stanford University

Canada: McGill University, University of Toronto, and University of British Columbia

The living costs is based on the average annual living costs published on the website of the respective universities. For Singapore Universities, the living cost for SG Citizens does not include accommodation; whereas for International Students, campus accommodation cost is included.

Inflation rate for living costs is based on 10-year geometric averages of Inflation Rate (Consumer Prices) published by the World Bank, for 2005-2014. Inflation rate for tuition fee is based on 10-year geometric averages of Consumer Price Index - Education published by the respective country's government statistical bureau.

The interest rate of 1% per annum is an estimate based on the range of interest rates offered by Singapore local banks DBS, OCBC and UOB on their savings accounts and fixed deposits as at 27 January 2016. It is used purely for illustrative purposes of how your savings may accumulate in the future. Your actual level of future savings will depend on the actual returns of your choice of savings.

Please take note that in general, savings are subject to inflation risk, but will not suffer negative non-inflation adjusted returns at any given point in time. However some life insurance plans, such as Participating Plans or Investment-Linked Plans, are subject to investment risks. This means your actual returns from these plans are not guaranteed and are affected by investment market performance.

The rates which are used to convert tuition fee and living costs in foreign currency into Singapore Dollars are based on yearly average exchange rate published by www.oanda.com using interbank +1%, from January to November 2015.

The monthly amount calculated by AXA Education Calculator is an estimate of the monthly premiums for AXA Early Saver. We assume that premiums are paid on time and that the policy stays in force until maturity, We have also applied a projected rate of return of 4.75% per annum, which is not guaranteed. Your actual returns from buying an AXA Early Saver policy will depend on the performance of the Participating Fund. It will also be affected by any policy transaction you may make such as surrendering your policy, taking a policy loan, etc.