AXA Life Insurance

AXA life insurance products are all offered under AXA’s Elevate Insurance Solutions. Please refer to the Product Disclosure Statement for further detail.

Overview

AXA’s Life Insurance Plan pays a lump-sum benefit in the event of your death or terminal illness.

Built-in benefits

The following benefits are built into the AXA Life Insurance Plan:

Terminal illness benefit
If you are diagnosed with a terminal illness and you have 12 months or less to live, AXA will pay you the terminal illness benefit. This is an advance payment of your full life insurance benefit.

Financial plan benefit
AXA will reimburse up to $2,000 to a licensed adviser who has provided a financial plan to you or your dependants within 6 months of a total benefit being paid for death or terminal illness. The payment of the financial plan benefit will not reduce any other benefit payable under the plan and is payable only once.

24 hour worldwide cover
On acceptance of your Plan, AXA will cover you 24 hours a day, and if you travel overseas.

Indexation benefit
To protect your benefit against the effects of inflation, up until age 65, your benefit is automatically increased each year by the greater of 5% or the increase in the Consumer Price Index (CPI). Each year you will be given the opportunity to decline the increase. If you do not decline the increase, your benefit will be increased and your premium will increase accordingly. Where a loading exceeding 100 per cent is applied to your premium the Indexation benefit will not be permitted.

Interim accident death cover
When you apply for life insurance, AXA will cover you for interim accident death cover while assessing your application. The interim accident death cover will be payable if you die within 90 days of suffering an accidental body injury, if the injury is independent of any other cause. You do not have to pay any extra premium for this cover.

Upgrade of benefits
If AXA makes future improvements to your plan, and such improvements result in no increase in premium, they will pass these changes on to you without you having to provide any medical evidence, or evidence regarding your occupation, pastimes or place of residence. You will not be detrimentally affected by any upgrade.
If you are suffering a pre-existing condition at the time the improvement is provided, the improvement will not apply when assessing any claim affected by that pre-existing condition.

Advancement of funeral expenses
This benefit provides the policy owner, the nominated beneficiaries or your estate with an advanced payment of $20,000 in order to meet funeral expenses when they fall due. Where AXA pay an advance payment, the life insurance benefit will be reduced by the amount paid for funeral expenses.

Accommodation benefit
AXA will pay a daily benefit of up to $150 for a maximum of 14 days, to cover the costs of immediate family members who need to travel more than 100km to stay with you if you are confined to bed and receiving a terminal illness benefit.

Benefits at an additional cost
The following benefits are available at an additional premium cost:

Future insurability option
Premium waiver option
Children’s trauma
ADL TPD insurance option

TPD and Trauma options

Where TPD and Trauma cover are purchased as options on a Life Insurance Plan, AXA will apply a 7.5% discount to the premium of the TPD. In instances where the trauma benefit is less than the TPD benefit, the 7.5 per cent discount applied to the TPD benefit is proportional to the level of trauma cover.

AXA Customer Service – 132 987

AXA Product Disclosure Statement – PDS

AXA website – www.axa.com.au