AXA Insurance today announced the introduction of an enhanced investment-linked plan (ILP), AXA Flexi Protector, which comes with new features and fund ranges to cater to the changing needs for protection and wealth accumulation across an individual’s life.
Customers will have access to a comprehensive and diversified range of investment funds to grow their wealth, as well as the option to customise their plan and adjust it at any time according to their protection needs. The plan offers customers a wide range of rider options for enhanced protection and the choice to transfer ownership to a family member at major life milestones to ensure continuity of the coverage and investment.
At a minimum monthly premium of as low as S$100 a month, AXA Flexi Protector provides lifetime coverage against death, total and permanent disability, and terminal illness at an affordable price. To help customers grow their investment, the plan comes with an extra premium allocation of 102% of the regular premium starting from the fifth year onwards and additional bonus units as high as 0.3% per annum of the account value.
“AXA Flexi Protector comes with low initial premiums because we want to enable people to take the important step of starting to address their protection and wealth accumulation needs early,” said Sean Goh, Managing Director, Life, AXA Insurance. “We also understand that the protection needs and risk appetite of individuals evolve as they progress through the different stages in life, such as when one enters the workforce, buys a first home, becomes a parent or reaches retirement. That is why we have designed a solution that gives customers flexibility and control over their protection and wealth accumulation plans to meet their long-term financial goals.”
Customised protection for every individual
With AXA Flexi Protector, customers have the flexibility to choose:
1. The sum assured based on their needs and budget;
2. To upgrade their protection at any time with 13 riders catered for varying needs including early, intermediate and advanced stage critical illness premium waiver and coverage. An example is the new AXA Super CritiCare Benefit Rider which allows for multiple payouts across all stages of critical illnesses up to a total of 600% of the coverage amount, and provides support for customers to take control of their health and well-being with a Diabetes Care Programme (worth S$2,500 per annum), which is the only such offering provided by an insurer; and
3. To increase the basic sum assured without the need for medical assessment at key life stages such as marriage, parenthood or home ownership. Customers can also extend the longevity of their plan and provide protection for the next generation by exercising the life replacement option to change the life assured to a spouse or child at any time, so that he or she can benefit from the continued policy growth after the death of the original life assured.
Extensive and varied range of quality investment options
The flexibility also extends to the investment component of the plan where customers can choose from a comprehensive and diverse range of sub-funds. Customers have access to a one-stop platform with over 100 sub-funds, one of the largest in the market, as well as sub-funds from a wide selection of asset managers with a global presence.
The sub-funds cover various geographies, sectors and asset types including equity, fixed income, mixed assets, money market and alternative asset types, and customers have the flexibility of optimising their portfolio for better returns with fund switching offered at no additional charge.
In addition, there are also flexible options for customers to make a partial or regular withdrawal after policy inception and to reduce their premium or opt for premium holiday in the event of any unforeseen financial situations.
For more information about AXA Flexi Protector, please visit http://axa.com.sg/savings-investments/axaflexiprotector.
ABOUT AXA INSURANCE
AXA Insurance is part of the AXA group, a worldwide leader in insurance and asset management with 171,000 employees serving 105 million clients in 61 countries. Present in Singapore since 1969, AXA Insurance has been serving the general and life insurance needs of individuals and companies in Singapore through a wide range of innovative products. As one of the top global insurers in Singapore, AXA Insurance protects more than a third of a million customers in Singapore. As a company whose business is about protecting people, AXA Insurance is committed to building a stronger and safer society by empowering customers to live better lives.
For more information, please visit www.axa.com.sg.
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