AXA Insurance has launched AXA Wealth Accelerate, a guaranteed issuance (i.e. no medical underwriting) investment-linked plan that is designed to help individuals meet their financial goals across various life stages.
As an insurer, AXA is able to differentiate AXA Wealth Accelerate from most non-insurers’ investment products with the following customer-centric features:
1) The more customers invest with AXA, the more AXA invests for them
Customers can enjoy three attractive bonuses at every step of their investment journey with AXA:
- Short-term: ‘Start-up bonus’ over first five years of up to 200% of first year premium to kick start their investment
- Medium-term: ‘Power-up bonus’ of up to 1.3% p.a. of account value from policy year 15 until end of their chosen Minimum Investment Period (MIP) to further boost their returns
- Long-term: ‘Loyalty bonus’ of 1.1% of account value from the end of MIP onwards to compound their wealth accumulation
2) Extra protection at no cost
Apart from supporting investment needs, AXA Wealth Accelerate also provides essential coverage against death and terminal illnesses with no insurance charges. In the event the life assured passes away before the policy anniversary nearest to his/her 66th birthday, the beneficiary will receive 116% of total account value. This is more than the total market value of the underlying funds.
3) Option to continue wealth accumulation without disruption
AXA Wealth Accelerate also empowers customers to continue their wealth accumulation plans even after they have passed on. It offers a Life Replacement Option (LRO) that allows the policyholder to change the life assured to his/her spouse, or child below 18 years old as a way to leave their legacy for the next generation. For example, a customer who purchased a plan at 40 with a 20-year MIP, and is later diagnosed with terminal stage colon cancer at age 50, may exercise the LRO to have his wife replace him as the life assured so that the policy does not terminate after his passing and can continue accumulating towards their original financial goal (refer to Appendix 1).
“The launch of AXA Wealth Accelerate reinforces our commitment to be an empowering partner to our customers by rewarding and protecting them at different stages along their investment journey. We have designed the plan to maximise wealth accumulation, with competitive charges as well as returns that our customers can enjoy in the short, medium and long-term through multiple bonuses,” said Sean Goh, Managing Director, Life, AXA Insurance. “Moreover, as an insurer, we not only have the ability to meet the wealth accumulation needs of our customers, but we also provide peace of mind by providing coverage for death and terminal illness. Beyond this, we want to help our customers ensure that their loved ones are taken care of financially in the unfortunate event of their passing, by offering a Life Replacement Option that allows a family member to continue to stay invested towards their financial goals.”
With flexible premium payment options, customers can choose a MIP of 10, 15, 20, 25 or 30 years and also invest in SGD or USD with a minimum annual premium of just S$3,600 or US$2,520 respectively. Recognising that life situations may change, the plan also offers customers the flexibility of opting for a premium holiday, premium reduction or partial withdrawal after the initial contribution period (three to five years depending on MIP). These flexible options affect the potential returns of the plan, hence policyholders are strongly encouraged to consult their AXA Financial Representative and consider carefully before exercising any of them.
Limited time product offer to further support financial goals of customers
As a limited time offer, AXA has also launched AXA Quick Saver to support customers who want to further boost their savings in the short-term. It is a three-year single premium savings plan with no medical underwriting that promises guaranteed returns at the end of the policy term. Ideal for individuals seeking to grow their wealth with minimal risk, it offers one of the highest guaranteed returns in the market at 2.5% p.a. for three years, which is among the shortest policy terms in the market.
The plan also provides financial protection for the family, with a payout of 101% of single premium paid or surrender value, whichever is higher, in the event of death or terminal illness of the insured. It is available as a bundle with selected new purchases of AXA regular premium plans, including AXA Wealth Accelerate.
ABOUT AXA INSURANCE
AXA Insurance is part of the AXA group, a worldwide leader in insurance and asset management, and the world’s leading insurance brand for the tenth consecutive year, 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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