AXA Insurance today announced the launch of two new insurance plans, AXA Life Treasure and AXA Retire Treasure, which offer customers the flexibility to customise their coverage according to their needs and priorities at different life stages. AXA Life Treasure is a whole life insurance plan designed to provide comprehensive coverage for death, terminal illness and total and permanent disability, with a wide range of optional riders for enhanced coverage on critical illness for greater peace of mind. AXA Retire Treasure, a flexible endowment plan, provides a steady stream of guaranteed annual income to supplement retirement income or lifestyle needs up to age 120.
Sean Goh, Managing Director, Life, AXA Insurance, said, “We have introduced AXA Life Treasure and AXA Retire Treasure to give our customers the flexibility to tailor their insurance plans to suit their needs and budget as we recognise that there’s no one-size-fits-all solution. We want to empower them to live better lives by taking control of their protection needs, so they can achieve their financial goals and ensure long-term financial security for themselves and their loved ones at every stage of their lives.”
AXA Life Treasure provides lifetime financial protection, where customers can choose from various premium payment options, from 10 to 30 years in payment terms and premium payment on a monthly, quarterly, semi-annual or annual basis, according to their financial circumstances. A wide range of optional riders are available for enhanced protection against early, intermediate and advanced stages of various critical illnesses, with additional 50 percent of rider’s sum assured upon diagnosis of top common critical illness – major cancers, heart attack and stroke. With the Multiplier Benefit rider, customers can boost their coverage up to 7 times of basic sum assured till age 70, as well as up to 14 times of sum assured in case of accidental death. It also offers a Guaranteed Insurability Option to increase coverage at key milestones in life, such as getting married or having a new born baby, with no medical underwriting required.
With people living longer lives, the likelihood of spending more time in retirement increases. Financial planning and preparedness for retirement has become even more critical. AXA Retire Treasure helps customers reach their long-term savings goals and gives them the flexibility to decide the amount of guaranteed annual income they want to receive. Customers have a choice for their premium payment term, from Single Premium to 30 years. They can also choose an income payout period up to 120 years old to cater to their retirement needs, and have the flexibility to redeposit their Guaranteed Annual Income with AXA to earn 3 percent interest per annum if they do not need the money yet. AXA Retire Treasure also offers an extra layer of protection with the option to add a waiver of premium rider, so that in the event of unforeseen circumstances such as disability, critical illness, or involuntary loss of employment, they do not have to worry about future premium payments.
Key benefits of AXA Life Treasure and AXA Retire Treasure:
AXA Life Treasure
- Flexible premium payment term: Customers can choose to pay their premiums over 10, 15, 20, 25 or 30 years, and on a monthly, quarterly, semi-annual or annual basis.
- Additional cover with no underwriting: As their protection needs increase, customers have the option to increase their coverage with eligible plans at key milestone events without medical underwriting.
- Enhanced protection with optional riders: Customers have the option to select from a wide range of riders.
- The multiplier benefit rider pays up to 7 times sum assured in case of death, total and permanent disability, terminal illness and critical illness.
- The Early Critical Illness benefit rider covers up to 132 conditions for early, intermediate and advanced stage critical illness and provides additional payout for special and juvenile conditions. The Critical Illness benefit rider covers 40 advanced stage critical illnesses. Upon diagnosis of top common critical illnesses – major cancers, heart attack and stroke – customers will receive an additional 50 percent of rider’s sum assured.
- With the accidental death benefit rider, customers can receive double indemnity payout of up to 14 times of the sum assured in case of accidental death.
- Other optional riders are available to waive future premiums to eliminate disruption to a customer’s protection plan in the event of misfortune.
AXA Retire treasure
- Flexible premium payment term: Customers can choose from single premium or pay premiums for 5, 10, 15, 20, 25 or 30 years and an income payout period of 10,15, 20, 25 years or lifetime (until age 120).
- Guaranteed annual income and capital: Customers will receive a steady stream of guaranteed income after premium payment term and accumulation period, with the option to not have to wait for retirement age. Customers also get back 100 percent of their premiums at the end of premium payment term and accumulation period (if any).
- Enhanced protection with optional riders: Customers have the option to add an extra layer of protection for their savings with waiver of premium riders in case of unforeseen events such as disability, critical illness or involuntary loss of employment.
- Hassle-free application: No medical questions or examination is required. All applications for the basic plan will be accepted.
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 ninth consecutive year, with 160,000 employees serving 105 million clients in 62 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
FOR MEDIA ENQUIRIES:
Phone: +65 86612952