Life Insurance 101: Identifying the best plan for you

For most people, life insurance remains low in their list of priorities. Some think insurance is too complicated and expensive, while others do not want a “one-size-fits-all” product and prefers personalized solutions that exactly fit their needs. There are even those that do not believe life insurance is a good investment for their hard-earned money. AXA redefines how customers view life insurance by giving them what they need.

In a nutshell, insurance provides protection against the risk of the unknown. It protects individuals, their family and their assets from unexpected loss. One of the most effective and practical ways of dealing with risks and uncertainties is to get insured.

“Most people do not have insurance because they do not understand the basic things about it. Specifically, insurance is something that provides security against life’s uncertainties, such as the death of a spouse, or being diagnosed with a critical illness. It also helps prepare for necessities, such as your children’s education or your future retirement. These things happen, and it is only sensible to be prepared for them,” says AXA Philippines President & CEO, Rien Hermans.

Hermans adds that a lot of people also do not get insured because they do not know the right kind of insurance that suits their needs. “One of the common mistakes of purchasing insurance is being underinsured or improperly insured. A good insurance company should be able to assess your needs and offer products and services for the things you need to prepare for.”

Common types of insurance
Life insurance is one of the most common types of insurance that is designed to take care of one’s dependents, including one’s spouse, children, or parent in case of sudden loss of the breadwinner. It offers income protection that can help secure their future.

Meanwhile, health insurance covers payments for medicine, consultations, hospital stays, and other medical expenses and treatments. This insurance is often included in employer benefit packages.

For professionals, there are retirement insurance plans that can help them prepare for a comfortable life after years of employment.

Educational plans are likewise available to help parents pay for their children’s tuition fees.

AXA Philippines gives you what you need
A member of the Paris-based AXA Global Group of companies, AXA Philippines is one of the fastest growing life insurance companies in the country. It started its operations in 1999, so far has progressed to become one of the top players in the local life insurance industry.

AXA Philippines offers a wide range of products and services that provide financial protection for its customers and meet their insurance, protection, savings, retirement and financial planning needs throughout their lives. The company’s expertise is in providing the first-class services and needs-based products to clients.

“We believe that insurance should not be complicated. We help customers understand their needs and protect their loved ones and the things that matter most against life’s uncertainties and risks,” Hermans says.

Easy and affordable solutions. To address the needs of young professionals and newlyweds about to start their family, AXA Philippines offers easy and affordable solutions for savings and income protection. This is in direct response to the market’s concern that insurance is complicated and expensive. There is Life eXentials that allows payments for 5 years and guaranteed security from day 1 up to age 55. It also gives 60 monthly payouts in case of early demise or terminal illness of the insured.

Another product is Savings eXentials that gives a customer the chance to pay for 5 years and receive a one-time payout on the 15th year. For only P1, 500 a month for 5 years, the customer is guaranteed a cash benefit of P106, 000.00. This is ideal for those who want to set aside money for major expenses in the future, such as downpayment for a new car or educational expenses.

These offerings ensure quick and easy enrolment because it does not require clients to answer tedious questions and undergo medical examinations. Convenient payment terms are offered as well since premiums can be automatically charged to your credit card.

“Our easy and affordable solutions enable you to have sensible insurance at affordable rates. We made these products easier to acquire so more people could avail of it,” Herman relates.

Getting Life eXentials or Savings eXentials is also hassle-free because all notices, correspondences, and communications can be received via SMS. Plus, you can gain 24/7 access to your policy information, status, and details through the AXA customer hotline at +632 3231 AXA (292) or +632 5815 AXA (292) or by registering at https://click.axa.com.ph/myaxaclick/

Personalized solutions. To make sure that AXA Philippines will be able to address the varied needs of its customers, it recently launched its “needs-based selling” campaign. Instead of offering pre-packaged products and services, AXA Philippines makes an assessment of a customer’s needs and goals through a proprietary electronic Financial Needs Analysis (eFNA) tool. The AXA Financial Advisor has the experience and expertise to provide a comprehensive analysis of your financial needs and provide customized solutions to fit those needs.

“AXA Philippines offers products and services to cater to the needs of different market segments. With our personalized solutions, you can be sure that your financial needs in terms of retirement, income protection, education, and health are covered,” Hermans explains.

Wealth management. AXA Philippines is also a wealth management solutions provider able to provide professional advice for high net worth individuals to help them in growing their assets and managing their acquired wealth.

“We help our clients not only manage but also enjoy their assets with our wealth management offerings. We are here to assist them to vary or expand their portfolio so that they may continue to pursue their passions in life,” Hermans explains.

AXA Philippines’ strong financial status, global reputation and performance record assure customers of its dependability and stability as an insurer—a partner who will truly address their needs.

AXA is one of the world’s leaders in financial protection and wealth management. Originating from France, it serves a global clientele of 95 million customers in 61 countries, with 4.3 billion Euros in adjusted earnings as of 2010. AXA was recently named the top insurance brand in the world by Interbrand for the 3rd year in a row. For more information, please log on to http://www.axa.com/en/group/profileTo know more about AXA Philippines products and services, call +632.5815.292 / +632.3231.292 or email [email protected]

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