The AXA protection Account
What is the AXA Protection Account?
The AXA Protection Account enables you to put all the protection covers you need in one place. It is a flexible product that allows you to tailor covers to suit the needs of your business at a particular time, then adapt them as your needs change.
The main covers available are:
- Life Cover
- Critical Illness Cover
- Life or Earlier Critical Illness Cover
- Executive Income Protection Cover
Covers have no cash-in value at any time.
Its aims
To provide a convenient ‘account’ that brings together different protection covers in one place for the amount of cover you choose, for the period you require.
To let you add, remove or adjust different covers as your business needs change, depending on the covers provided by AXA at the time.
According to the covers you choose this may provide:
- A one-off payment if, during the length of cover, the person covered dies; has a terminal illness; suffers a specified critical illness or injury; undergoes a specified surgical procedure; or becomes incapacitated and is expected never to be able to work again.
- This one-off payment can allow the purchase of any available shares to allow the business to continue in operation; provide protection for outstanding business loans where the person covered has acted as a named guarantor; or help protect the business against the loss of a key person.
- A regular income to pay a covered employee’s salary and other benefits if they become incapacitated and unable to work; and
- Protection for your payments for the selected covers.
