During the media launch at Ride Revolution
AXA Philippines, one of the country’s largest and fastest growing life insurance companies, is strengthening its health product portfolio with the launch of Life Basix Plus and Axelerator Plus, both of which are investment product bundles that include health coverage for critical illnesses.
“When most Filipinos think of financial security, they normally focus on building up their savings or investments. However, most fail to realize that getting very sick, especially with critical illnesses such as heart disease, stroke, or cancer, can easily wipe out whatever savings they may have built over time,” says Rahul Hora, President & CEO of AXA Philippines. “That is why it is important to protect your health.”
“With AXA’s new health products, Life Basix Plus and Axelerator Plus, you have the opportunity to grow your money by investing a portion of premiums in the funds of your choice, and at the same time, get health coverage of at least P500,000 or up to P10 million for 56 major critical conditions and 18 minor critical conditions, up to age 100,” Hora adds. “On top of all this, both products also have guaranteed life insurance coverage. So in essence, both provide you with complete financial security and protection — investments, life insurance, and health coverage all-in-one.”
Grow Your Wealth
Life Basix Plus and Axelerator Plus are both regular-pay variable unit-linked (VUL) products, which means that they are both investments that have life insurance coverage.
Both products provide access to any of AXA’s VUL funds that are invested in bonds, equities, or a mix of both. Some of these funds have had good annualized returns (as of June 2016) since their inception, including the Opportunity Fund (17.06% p.a.), Chinese Tycoon Fund (15.45% p.a.), Wealth Equity Fund (14.76% p.a.), and Wealth Bond Fund (4.89% p.a.).
Comparing the two products, Life Basix Plus has a higher portion of the premiums going to life insurance compared to Axelerator, meaning that it provides higher coverage. On the other hand, Axelerator Plus has a higher portion of the premiums going to the investment portion, as compared to Life Basix Plus. This translates to a higher potential to grow your investment faster. Nonetheless, both products have guaranteed life insurance coverage, regardless of investment performance.
Life Basix Plus is payable for at least 10 years, while Axelerator Plus is payable for at least 5 years.
Protect Your Health
Both Life Basix Plus and Axelerator Plus are bundled with a Health Max Rider that provides a guaranteed amount in case the insured is diagnosed with any of the 56 covered major critical conditions such as cancer, stroke, or heart attack; and/or any of the 18 minor critical conditions such as angioplasty, early stage cancer, or dengue for those aged 21 and below).
Moreover, health coverage for both bundles is up to age 100, higher than most HMOs which normally provide coverage of only up to age 75.
Both product bundles also feature an Advanced Health Fund that allows policy owners to use a portion of their health coverage for health maintenance needs and other outpatient expenses starting the age of 70, even if not diagnosed for a critical illness.
Fail Proof Your Health
“Getting a critical illness can really derail or interrupt an individual or a family’s life plans — savings are emptied, houses and other valuable assets are sold, schooling for the children stops, debts pile up. But with AXA’s Life Basix Plus and Axelerator Plus, people can live a life that’s uninterrupted even if they get diagnosed with a critical illness. They can continue to pursue their personal or career goals without having to worry about their financial security,” concludes Hora.
To learn more about Life Basix Plus or Axelerator Plus, you may call the AXA customer service hotline at (02) 5815-AXA (292) or talk to an AXA Financial Partner at any AXA, Metrobank, or PSBank branch nationwide. You may also visit www.axa.com.ph for more details.