• AXA Life Insurance

    About AXA Life Insurance in Singapore

    Life Insurance is the most sought after medium to indemnify and safeguard our financial obligations. It not only provides a lump sum upon death, but also provides attractive returns at the end of policy term extending financial impetus to key events in life. AXA Life Insurance in Singapore offers a wide range of policies based on your requirements.

    AXA in Singapore is a subsidy of Insurance behemoth, AXA Group based in Paris, France. Rated as one of the top insurance companies in the world, AXA has significant presence in over 59 countries around the globe in all major regions. Backed by a strong workforce of over 157,000 employees, the group serves 103 Million customers worldwide.

    In Singapore, AXA extends insurance solutions for individuals in categories of Life, Health, Accident, Car, Travel and Home. It also provides insurance based products for businesses. IN the “Whole Life” insurance category, AXA provides the following options.

    • Life Exentials
    • Life Exentials Prime
    • HealthPro Growth
    • HealthPro Living

    Features & Benefits of AXA Life Insurance

    AXA Life Exentials:

    A whole life insurance option that gives you up to three times protection on the premium paid. Under this product, the nominees are eligible for up to 3x of the sum assured in case of death and a minimum of 6 times in case of death due to accident.

    Option to increase the cover anytime

    Events in life, like marriage or having a baby, call for additional financial responsibility to secure your loved ones. The insured has an option to hike the sum assured coverage that comes at no additional underwriting.

    Flexible payment options

    The insured has an option to choose to pay premiums in the convenient slabs of 10, 15, 20, or 25 years. One can also choose to pay the premium until the age of 65.

    Option to add critical illness package

    The insured can purchase the accelerated critical illness package which disburses payout of up to 3 times the basic sum assured in case of critical illness. This takes care of the financial obligation relating to treatment and medication of the ailment.

    Bonus payouts and additional benefits

    Under Life Exentials, you are eligible for bonus payouts during the course of the policy. The insured can accumulate bonus payouts and encash them during retirement.

    Terms & Conditions for Life Exentials

    • Open for people from 0 - 60 years in age.
    • Minimum death benefit and Accidental death benefit is applicable only until the age of 70.

    AXA Life Exentials Prime Plus:

    A comprehensive protection plan that ensures all round protection with enhanced death benefits.

    Multiplied death benefit

    Under this plan, up to three and half times of the chosen sum assured is provided as death benefit to your dependents and up to seven times if the death is due to accident.

    Critical illness cover

    Provides cover for critical illnesses right from day one for whole life by means of providing monetary assistance during various phases of the illness. There is no waiting period.

    Short term disability cover

    The Life Exentials Premium Plus pays for expenses during short term disability in the form of monthly sum which not only takes cares of your medication but also pays for basic expenses.

    Option to increase the cover anytime

    Events like marriage, having a baby in life calls for additional financial responsibility to secure your loved ones. The insured has an option to hike the sum assured coverage that comes at no additional underwriting.

    Flexible payment options

    The insured has an option to choose to pay premiums in the convenient slabs of 10, 15, 20, or 25 years. One can also choose to pay the premium until the age of 65.

    Yearly bonuses for long term savings

    Under this plan, yearly bonuses accumulated over a period of time helps in funding key events in life such as purchasing a house.

    Terms & Conditions for Life Exentials Plus

    • Open for people from 18 - 55 years in age.
    • Minimum death benefit and Accidental death benefit is applicable only until the age of 70.
    • Monthly payout under the short term disability is 1%(Max $2,000) of the sum assured for up to 24 months.

    AXA HealthPro Growth:

    Along with optimum protection, this insurance product provides exciting sum assured upon maturity.

    Flexible payment options

    The insured has an option to choose to pay premiums in the convenient slabs of 10, 15, 20, or 25 years. One can also choose to pay the premium until the age of 65.

    Up to protection against various unforeseen events in life

    This policy not only provides a lump sum in case of death, but also extends financial assistance in case of total and permanent disability, minor and critical illness and terminal illness.

    Claim 4 additional critical illnesses with Healthpro Multiple Benefit (Optional)

    Under this option, you can make claims for 5 critical illnesses throughout the term which ensures comprehensive cover ensuring financial security against treatment and medication.

    Get up to 20% payout in case of minor illness

    The insured can claim up to 2 minor illnesses, an advance payment that can used to treat the ailment and settle expenses. One can get up to 20% of the sum insured towards treatment and medical costs.

    Terms & Conditions for Life Exentials Plus

    • The entry age is 60 years and below

    AXA HealthPro Living:

    A plan that provides that provides heavy benefits for various types of illness situation without long term premium payments.

    Up to protection against various unforeseen events in life

    This policy not only provides a lump sum in case of death, but also extends financial assistance in case of total and permanent disability, minor and critical illness and terminal illness.

    Massive payout of 135% of the sum assured

    In case of death, permanent disability, minor and critical illness and terminal illness conditions, you’re eligible to receive 135% of the sum assured along with accumulated bonuses. This is only available if the insured is 65 years or younger.

    Claim 4 additional critical illnesses with Healthpro Multiple Benefit (Optional)

    Under this option, you can make claims for 5 critical illnesses throughout the term which ensures comprehensive cover ensuring financial security against treatment and medication.

    Types of AXA Life Insurance Products

    The following are the types of insurance policies that AXA provides under the life vertical.

    Insurance Scheme About Coverage Period
    Direct - AXA Life Lite
    • It is a no-frills whole life insurance scheme that you can buy directly from AXA.
    • Provides coverage against death, TPD and terminal illness.
    • Two premium options available.
    • Provides discretionary bonuses that increase protection and cash value over time.
    Whole life
    AXA Life MultiProtect
    • Provides option to multiply your protection coverage.
    • Provides flexible payment options.
    • Add-on riders available.
    • Double indemnity on accidental death.
    Whole life
    HealthPro Growth
    • Makes your investments work harder.
    • Allows you to accumulate cash value through your lifetime.
    • Pays for death, TPD, serious diseases and even some minor illnesses.
    • Flexible payment options.
    Whole life
    AXA Term Protector/AXA Term Protector Prime
    • Term plan conversion whenever you want.
    • Automatic renewal at the end of a term.
    • Option to choose the currency of protection.
    • Option to be covered up to ages – 50, 55, 60, 65, 70 and 99.
    • Option to be covered for a period of 5, 10, 15, 20, 25 or 30 years.
    Direct – AXA Term Lite
    • No-frills term life insurance policy that can be bought directly from AXA.
    • No cash or investment value.
    • Ideal for people who don’t require financial advice.
    • Automatic renewal for 5-year term plan.
    • Fixed term coverage of 5 or 20 years.
    • Option to get coverage up to 65 years of age.
    • Coverage under the policy can be used till 85 years of age.
    360o Cancer Care
    • One of the most comprehensive cancer protection policies in Singapore.
    • Payouts provided for early-stage cancer diagnosis and treatment.
    • Get up to 20% of the sum assured in addition in case of cancer relapse.
    • Waiver of premium once treatment starts.
    Coverage up to age of 75.
    Early Stage CritiCare
    • If you make a claim for treatment of a critical illness, premium will be waived for the remainder of the policy period.
    • Loyalty discount option.
    • Additional payouts for advanced stages of covered illness and post-illness healthcare.
    Coverage up to age of 75.
    SmartCare Critical
    • Coverage for 30 common illnesses.
    • Added benefit of up to S$10,000 for cancers covered under the plan.
    • Plan can be renewed up to the age of 65.
    NA
    SmartCare Junior
    • Lump sum coverage for 10 covered illnesses.
    • Payor benefit.
    • Automatic coverage renewal on a yearly basis.
    • Policy can be renewed till your child turns 25 if the child is enrolled in an educational institution.
    NA

    Features and Benefits

    The following are the important features available on the various plans:

    • You and your family will get coverage till you turn 99, against death or terminal illness with Direct – AXA Life Lite.
    • You can choose to pay premium up to ages 70 or 85 under the Direct – AXA Life Lite scheme.
    • Major illnesses like cancer and stroke are covered by AXA life insurance plans like Direct – AXA Life Lite and Direct – AXA Term Lite.
    • Guaranteed renewal is available for most of the policies unless requested otherwise by you.
    • Plans like AXA Term Protector/AXA Term Protector Prime allow you to upgrade/downgrade your plan easily if your needs change.
    • With Singapore CPI index linking option available with AXA Term Protector Policies, you can hedge against any rise in premium in the future.
    • Advance payout is available in case of total/permanent disability with some plans.
    • With the 360o Cancer Care, you can seek a second opinion in Singapore or foreign countries covered under the plan. With this plan, you and your family can get counselling when needed. Medical assistance and guidance is also available.
    • Some plans also provide attractive no claim discounts.
    • You can receive 100% of the sum insured, up to S$3 million, on disability that disrupts at least two of the six activities of daily living as defined by the insurer.

    Coverage Details

    The extent of coverage for each life plan has been discussed in the table below:

    Scheme Sum Assured
    Direct - AXA Life Lite Starts from S$50,000 and can go up to S$200,000.
    AXA Life MultiProtect Basic sum assured is S$100,000 and the minimum critical illness benefit is S$50,000. With multipliers, the coverage can be increased.
    HealthPro Growth Minimum sum assured is S$50,000 but with riders, claims of higher amounts can be made.
    AXA Term Protector/AXA Term Protector Prime Up to S$100,000 for regular term-to-age plan. By choosing the indexation option, you can increase the sum assured by linking it directly to the consumer price index.
    Direct – AXA Term Lite Option to choose sum assured from a range of S$50,000 to S$400,000.
    360o Cancer Care
    • Up to S$300,000 in medical assistance.
    • Up to S$60,000 in cancer relapse treatment.
    • Up to S$18,000 for recovery.
    • Up to S$30,000 for aftercare.
    • Death benefit of up to S$15,000.
    Early Stage CritiCare
    • 100% of the sum assured up to a maximum of S$200,000 for early stage treatment and 100% of the sum assured up to a maximum of S$200,000 for the intermediate stage.
    • Claim of up to 150% of the sum assured after discounting for the claims already paid out, during the advanced stage of a critical illness.
    • Death benefit of up to S$15,000.
    • Post-critical care of up to S$7,500 per insured with a cap of S$2,500 per policy year.
    • Special condition benefit of 10% of the total insurance coverage up to a maximum of S$25,000 for every condition covered.
    SmartCare Critical
    • Up to anywhere between S$30,000 to S$100,000 for treatment of any of the 30 illnesses covered under the plan.
    • An additional amount of up to S$10,000 for certain types of female cancer.
    • An additional amount of up to S$10,000 for certain types of male cancer.
    • A maximum hospital cash benefit of S$200 per day is available for up to 60 days.
    SmartCare Junior
    • Up to S$50,000 lump sum payout for 10 common child illnesses.
    • A special grant benefit of up to S$3,000.
    • Disability cover not exceeding S$5,000.
    • A special wellness benefit of S$50.
    • Coverage of up to S$50,000 in case the life insured meets with a personal accident.
    • Maximum sum assurance of S$50,000 to be paid to the child if you as the payor meet with death or TPD due to an accident.

    Promotions

    The following are some of the promotions that are currently running:

    • Get a 10% discount on Early Stage CritiCare or combine it with an eligible basic plan offered by AXA to get a 20% discount. This offer is valid on applications submitted by 31 March 2018. The inception date of the plan must also be on or before 30 April 2018.
    • Get Robinsons Shopping Vouchers on purchase of eligible insurance plans. The offer is valid till 29 March 2018. Each voucher will be worth 15% of the initial premium.
    • If you buy an AXA Life MultiProtect plan on or before 29 March 2018, you can get a discount of up to 15% on the critical illness riders which will remain applicable till the end of the first policy period.

    How to Apply

    Two AXA life products – Direct - AXA Term Lite and Direct - AXA Life Lite – can be bought directly from AXA without any intermediaries or financial advisors. You may call 1800 292 5483.

    Apart from this, you may apply by filling out a contact form on the insurer’s website and a customer care representative will get in touch with you soon. You can call AXA on 1800 880 4888 if you’re calling from within Singapore or (+65) 6880 4888 if you’re calling from abroad for more information.

    You can also download and fill out the other relevant forms and dispatch them to the AXA Tower office at Shenton Way. Products may also be bought through a financial advisor or consultant, too.

    Check Your Eligibility

    The following are the eligibility parameters for the AXA life plans in Singapore:

    • For the Direct - AXA Life Lite plan, you have two premium payment options. If you want to pay premium till you turn 70, the entry age is restricted to 18 and 60 (both inclusive). If you want to pay premium till 85, the lower and upper entry age caps are 18 and 65 respectively.
    • For the AXA Life MultiProtect scheme, the upper and lower entry ages have been restricted at one month and 60 years respectively.
    • If your age is 60 years or below, you’re eligible to apply for the HealthPro Growth plan.
    • For the AXA Term Protector policy, the lower and upper age limits have been set at one month and 70 years respectively while that for the AXA Term Protector Prime has been set at 16 years and 70 years respectively.
    • Direct - AXA Term Lite offers you the option to choose from different cover terms. For the 5- and 20-year cover terms, the lower and upper entry ages have been set at 18 years and 65 years respectively. If you wish to be covered till you turn 65, you’ll have to apply when your age is between 18 years and 60 years.
    • To subscribe for the 360o Cancer Care plan, you’ll have to be 69 years old or younger.
    • The upper age limit for the Early Stage CritiCare policy has been set at 69 years.
    • You can apply for SmartCare Critical if you’re aged between 18 years and 55 years (both inclusive).
    • If the age of your child is between 15 days and 18 years (both inclusive) you can protect your child with the SmartCare Junior insurance scheme.

    Get in touch with the insurer to learn more about specific documents that you may have to furnish or other conditions that you may have to fulfil to get their protection.

    How to Make a Claim

    You can directly submit a claim request online or download the relevant form from AXA’s website, fill it out and then send it directly to the claims department at AXA Singapore. You can either hand it over personally to an AXA customer care executive or mail the package. You can also submit it through your insurance consultant.

    Make sure that the supporting documents are in order when submitting the claim form. If your claim is found to be valid after review, it will be settled quickly.

    Frequently Asked Questions - AXA Life Insurance

    1. What are the types of “critical” illnesses covered under HealthPro plans?

      Cancer, Illnesses related to organ failure, ailments related to heart and blood vessels, illness related to the nervous system, loss of speech and major burns. Further breakup has been provided on AXA website for Singapore.

    2. I am looking for the accidental death benefit option. Please provide the list of products that have this rider.

      This option is available for both Life Exentials and Life Exentials Prime.

    3. Is coverage for critical illness immediately effective from the policy issue date for Life Exentials Prime?

      Major critical illnesses are covered right from day one under this plan.

    4. How does AXA HealthPro Multiple Benefit help for critical illnesses?

      By adding this rider, you can claim up to 4 times of the critical illness benefit over the basic coverage.

    5. What are the premium payment terms available for Life Exentials and Prime Plans?

      The terms available are for 10, 15, 20, or 25 years.

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