2005
(05/07/2005) AXA cuts Protection rates
AXA has cut its guaranteed life or earlier critical illness rates, and guaranteed decreasing term assurance rates.
Life or earlier critical illness rates are being reduced by an average of 2-2.5%, while decreasing term assurance rates see an average reduction of around 5%.
Iain Mallon, Head of Protection at AXA, said: "We are committed to keeping our rates competitive in a fast-moving market, and these reductions are designed to help us continue to do that."
A sample of premiums is given below. The examples below are based on a sum assured of £100,000 and with Total Permanent Disability cover included:
| Customer(s)1 | Product | Old Premium | New Premium | % Change2 |
|---|---|---|---|---|
| Male, Non-Smoker, aged 30, 25 year term | Decreasing Term Assurance | £7.49 | £7.39 | -1.3% |
| Joint male & female, Non-Smokers, aged 35, 20 year term | Decreasing Term Assurance | £12.45 | £11.46 | -8.0% |
| Male, Non-Smoker, aged 25, 20 year term | Level Life or Earlier Critical Illness | £19.73 | £18.80 | -4.7% |
| Joint male & female, Non-Smokers, aged 40, 20 year term | Decreasing Life or Earlier Critical Illness | £75.03 | £72.66 | -3.2% |
- Ends -
Notes to Editors
1Exact ages used.
2Premium changes for specific cases will vary.
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About AXA
AXA is a world leader in financial protection. AXA's operations are diverse with major operations in Western Europe, North America and the Asia/Pacific area. AXA employs 120,000 staff and tied agents and, as of 31 December 2004, had €869 billion in assets under management. Reported total revenues for 2004 were approximately €72 billion. Our previous company performance is not a guide to how we may perform in the future.
AXA ordinary shares are listed on the Paris Stock Exchange; AXA American Depositary Shares (ADSs) are listed on the NYSE under the ticker symbol AXA.