AXA Life Insurance: Compare Plans, Premiums and Benefits

AXA is a leading French multinational insurance provider that deals in a variety of insurance products and services all across the world. The company is headquartered in Paris and operates majorly in the western parts of Europe, the Middle East, the Indian Pacific region, North America along with a presence in the African subcontinent as well.

The AXA group was established in the year 1816 and has an overall experience of two centuries in the insurance industry. The company is known for providing innovative and user-friendly insurance products and solutions to its customers worldwide.

Types of Life Insurance Plans offered by AXA

AXA mainly offers the following types of life insurance plans-

Life Protect Life Insurance

The life protects from AXA is a one-stop solution for all your insurance needs as the plan safeguards your loved ones and family members from the strokes of uncertainties on the trail of life.

In case of any unfortunate event leading to the demise or disability of the policyholder, the nominees of the plan will receive a death benefit in the form of a sum assured. Moreover, in case the policyholder is diagnosed with any terminal illness, there will be a sum assured that will be provided to the nominees of the plan.

Insurance seekers have the option of purchasing add on riders over the basic plan to enhance the protection quotient of their basic plan. One such add-on riders are permanent or total disability rider under which if the policyholder due to any circumstances is disabled either temporarily or permanently then the insurer will provide coverage to manage the expenses incurred during that phase.

A distinct feature that makes the life protection plan different from other life insurance plans in the insurance market is the inclusion of temporary life coverage, which is completely free of cost. This temporary coverage protects the policyholder right from the moment they fill in the application form and apply for the life protection plan.

Key Features & Benefits of the Life Protect plan from AXA

In case of an unfortunate demise of the policyholder, the Life Protect Plan from AXA provides financial cushioning and helps the family members to make ends during phases of financial instability.

Life protection from AXA provides a steady flow of cash that works as income replacement for the deceased’s family members.
With the sum assured you can assure that your child/children get the right type and quality of education when you are not around to look after their needs.
In the case of outstanding financial obligations, the life protection plan helps to repay the debts so that there is no financial burden on the shoulders of the deceased.
The sum assured provided as the death benefit will ensure that your family members and loved ones lead the same lifestyle when you are not around to provide for them.
The death benefit often turns out to be quite useful to sustain support to an elderly member of the family.
The plan is quite flexible and allows the policyholder to pay the premium as per their convenience i.e. monthly, quarterly, half-yearly, or annually.

Types of Covers Offered by Life Protect Plan from AXA

Here is a list of all the covers that the Life Protect Plan from AXA offers for its policyholders.

Loss of Life Due to Accident or Sickness: Life Protect Plan from AXA Life Insurance Company offers coverage against the policyholder’s demise due to illness and/or accident.
Terminal Illness Benefit: Life Protect Plan from AXA Life Insurance Company offers coverage against an unfortunate terminal illness of the policyholder.
Permanent Total Disability: This AXA Life Insurance cover policy offers coverage against an unfortunate event of permanent total disability of the policyholder. The insurance company provides sum assured in case the policyholder is unable to work due to this disability.
Waiver of Premium: Life Protect Plan from AXA Life Insurance Company offers insurance premium waiver to the policyholders who are rendered disabled to pay them.
Temporary Life Cover: AXA Life Insurance cover policy also includes Temporary Life Cover in the life insurance policy.

By providing the sum assured to the policyholder’s family, the insurance company ensures that they settle all their bills, pay for their child’s education, make up for the loss of income, maintain their lifestyle and much more. The family members of the policyholder can also use sum assured to cover for their business losses or pay for a financial liability.

Eligibility Criteria for Life Protect Plan from AXA

The eligibility criteria for the AXA life protect insurance plan is as follows-

The minimum and maximum age in order to apply for the life protect plan is 18 and 79 years respectively.
The plan is valid for UAE residents only.
The coverage available in the case of life protect plan is USD 50,000,000.

Simple life Insurance

The simple life is another life insurance plan from AXA that is designed and developed to provide financial assistance to your loved ones and family members in order to effectively combat phases of financial instability arising due to the death of the primary breadwinner of the family. The simple life is a user-friendly and pocket-friendly life insurance plan that helps you to provide a blanket of financial protection for your family members when you are not around to look after their needs and requirements.

With the Simple life plan, you can prepare yourself and your loved ones to overcome the various ups and downs on the uncertain trail of life. Nominees of the insurance policy will get a death benefit in case of the natural or accidental loss of life.

Insurance seekers have the option of choosing coverage up to AED 36000000. Furthermore, interested policyholders can get individual coverage for themselves and their spouses at special discounted rates of premium. The simple life plan is quite flexible and allows users to pay their premium monthly or annually as per their convenience.

Key features and benefits of the Simple Life Plan from AXA

The key features and benefits of the simple life plan from AXA are as follows-

Insurance seekers can easily purchase a simple life plan from AXA using an online mobile app or website with just a few clicks.
The plan is quite flexible and the payable premium can be adjusted on the basis of the policyholder’s convenience.
Insurance seekers can insure themselves and their spouses within the same life insurance plan at special discounted rates of premium by which they can save a substantial amount of money.
The Simple life plan provides policyholders freedom and privilege to stop paying their premium whenever they want without the imposition of any fine or penalty.

Types of Covers offered by Simple Life Plan from AXA

Here is a list of major covers that the Simple Life Plan from AXA offers:
Natural Loss of Life: Simple Life Plan from AXA Life Insurance Company offers coverage against policyholder’s death due to a natural cause.
Accidental Loss of Life: Simple Life Plan from AXA Life Insurance Company offers coverage against the loss life due to an accident.
Loss of Life in a Common Carrier: Simple Life Plan from AXA Life Insurance Company offers coverage against an unfortunate event if the policyholder dies due to an accident in a common carrier such as flight, bus, or train.
This AXA Life Insurance Cover Policy offers individual insurance coverage of up to AED 3,600,000. You can also opt for individual coverage for you and your spouse. The best part about this plan is that you can pay the insurance premiums at discounted rates monthly or annually, depending upon your financial preferences.

Eligibility Criteria for Simple Life Plan from AXA

The plan is eligible for both UAE nationals as well as the expatriate population
The minimum and maximum age to apply for the simple life plan is 18 and 59 years respectively.

Cancellation Process for AXA Life Insurance Policy in UAE

AXA Life Insurance Company allows its policyholders to cancel their insurance policy anytime without paying any additional charges. As per the policy terms, the policyholders get refund for the remaining period if they have paid the insurance premium in advance.
With AXA Life Insurance, the policyholders are covered for the entire month they have paid for, in case they are making premium payments on a monthly basis.