2005
(24/10/2005) AXA Protection Account revises rates
AXA is revising rates for its Stand-alone Critical Illness Cover, Life Cover and Life or Earlier Critical Illness Cover. These new rates will be amongst the most competitive in the market.
Overall, 76% of premiums have reduced in price with an average reduction of 2%. The examples below show the reductions to rates and also the additional savings that can be made with multi-buy discount. This is where more than one cover is selected within the Account.
| Customer(s) | Cover | Old Monthly Premium (including Account charge) |
New Monthly Premium (including Account charge) |
New Monthly Premium (multi-buy discount applied) |
% Change (including Account charge) |
|---|---|---|---|---|---|
| male non-smoker aged 25 exact 25 year term | Guaranteed Level Life or Earlier Critical Illness Cover | £22.69 | £22.40 | £21.40 | -1.3% |
| male non-smoker aged 30 exact 25 year term | Level Life Cover | £8.99 | £7.99 | £6.99 | -11.1% |
| female non-smoker aged 30 exact 25 year term | Reviewable Level Life or Earlier Critical Illness Cover | £33.29 | £26.29 | £25.29 | -21.0% |
| female smoker aged 35 exact 25 year term | Reviewable Decreasing Stand-alone Critical Illness Cover | £53.70 | £40.31 | £39.31 | -24.9% |
| female non-smoker aged 35 exact 25 year term | Reviewable Level Stand-alone Critical Illness Cover | £41.92 | £35.09 | £34.09 | -16.3% |
Note: Exact ages used. Premium changes for specific cases will vary.
The examples above are based on a sum assured of £100,000 and Total Permanent Disability cover is included.
Iain Mallon, Head of Protection at AXA, said: "These changes ensure that the AXA Protection Account continues to offer quality cover at competitive rates. This in addition to flexible online and underwriting options means AXA offers advisers a compelling protection solution."
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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 30 June 2005, had €935 billion in assets under management. AXA reported total IFRS revenues of €37 billion and IFRS underlying earnings of €1,761 million for the first half of 2005. 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.