AXA product update 2011

Sep 27, 2011 - xLife

AXA Insurance Australia has recently announced a product update to its flagship policy AXA Elevate.

The update specifically addresses longevity with many Australians living longer, and choosing to work for longer and retiring later in life.

While changes have been made to the entire suit of AXA Elevateâ€™s products, the main focus has been on income protection insurance and trauma cover.

AXA Income Protection Insurance

Additional benefit period option up to age 70
Level premiums now available on income protection products to age 70
Maximum monthly income protection insurance benefits now increased from $30,000 to $60,000 per month

Level premiums now available on life insurance products to age 70
New short form personal statement for life cover up to $500,000 and for individuals up to 50 years of age
5% discount for life, trauma and TPD premiums when a policy is taken by at least 2 people in a business relationship

Level premiums now available on trauma insurance products to age 70
Trauma definition changes including melanoma and carcinoma
An increase in partial benefit payment for the early detection of cancer
Payments of up to 20% of the sum insured can now be made, up to a maximum of $100,000

For more details please refer to the AXA Elevate PDS, or contact an xLife adviser on 1300 135 205.