AXA Life Insurance (Axa) Company Evaluation and Product Introduction

AXA Life, also translated as AXA Fair Life, is one of the few companies established before 1900. Its history is very legendary. After so many years, although its competitors have doubled, they still occupy the market today. According to leading position.

With its worldwide influence, AXA Fair Life has become one of the largest life insurance companies in the United States.But fame is only one aspect. Can consumers trust their family's all life insurance products because of their fame?

When you need to provide protection to your family, company or even your estate, your first consideration is whether these insurance companies have a good reputation, whether their financial status is healthy, and whether this investment is of great value.

This comprehensive introduction and evaluation of AXA Fair Life, edited by the American Life Insurance Guide, may help you determine whether you should put it in your pocket or go to another life insurance company.

Evaluation and product introduction of AXA Fair Life Insurance

Henry Birdwin founded the Fair Group more than 150 years ago. Before that, the company was called Fair Life Insurance Association of America.After more than ten years, the company has launched more new businesses.

With this continuous innovation, the company continued to make progress, pursue excellence, launched immediate claims, and continuously created new products, such as the launch of joint annuity products to the construction of skyscrapers that were unheard of at the time.The company has accumulated a strong foundation in adhering to the concept of fairness, surpassing many companies.

AXA's financial rating

Strong financial resources, accumulated years of history in the family and business, this has become a strong reputation of the company. AM Best rated them as "A+", while Fitch rated them as "AA-", Moody's rated them as "Aa3", and Standard & Poor's rated them as "AA-".This makes the Fair Group have surpassed many other companies and ranks in the top 8% of all companies that have passed the rating.

In 1992, AXA Group acquired Fair Group, which was probably the largest acquisition in the world at the time. In the process of reorganizing the company's structure from a mutually beneficial company to a joint-stock company, it injected US$10 billion in funds.

There are still very few companies that still maintain and mutually beneficial institutions, but the company's reorganization into a shareholding system can enable the company to expand into more markets, especially outside the United States.

Therefore, AXA expanded their business and provided the following products and services:

• life insurance
• Eye Insurance
• Dental insurance
• pension
• Personal investment account
• Retirement account (401 k, 403b, 457b)

Although these products have been available for a long time, we still focus on AXA's life insurance products.

Life insurance products at a glance

AXA offers many types of life insurance products, including:

1. Term life insurance
2. Universal insurance
3. Index Universal Insurance
4. Investment universal insurance
5. Survival Will Life Insurance
6. Participating Life Insurance

Term life insurance

BrightLife^® Term It is the core term life insurance product of AXA. It is very different from many other companies in terms of the length of the coverage period.

The length of coverage for BrightLife® Term is:

1. 1 year (renewable every year)
2. 5 year
3. 10 year
4. 15 year
5. 20 year

Few insurance companies have annual term life insurance, and most life insurance companies focus on 30-year products.And this product called BrightLife®TerminOne® does exactly the opposite.Therefore, in this regard, AXA Life is clearly focused on short-term term life insurance, and ultimately allows users who develop insurance habits to hold whole life insurance policies.

In fact, their term life insurance policies can be converted into other lifetime policies, and the premiums during the first 60 months of insuring can be converted into converted points for redemption.

AXA Life Term Life Insurance Covenant (Rider) Including: pre-mortem benefit rider, children's term life insurance rider, and disability premium rider.

Universal insurance

AXA’s main universal life insurance product isBrightLife^® Protect. This is a whole life insurance product with very little flexibility.This product is for those customers who only want to determine the guaranteed protection, such as a certain death benefit, the guaranteed amount will remain unchanged for 40 years, or until your age reaches 90.

In addition, the cash value part will increase, and you can withdraw cash by borrowing or surrendering the insurance, depending on your choice.Of course, borrowing will affect the value of the policy, and interest on borrowing will accumulate until it is fully repaid.

BrightLife^® The Protect product is suitable for customers who care about guaranteed death benefits and who are less concerned about growth.

Index Universal Insurance

If you are looking for a product with accumulated cash value, thenBrightLife^® Grow This product is tailor-made for you.

The same basic function as other universal insurance, this product also pays extra attention to the return on investment in the securities investment market to increase cash value.

Investment universal insurance

AXA IncentiveLife Optimizer^® III 和 IncentiveLife Optimizer^® III These two products are pure investment universal insurance products.Because it is closely linked to the market, it is necessary to communicate with a registered sales representative before applying.

Due to product risks, such products cannot be sold through other channels.However, risks and opportunities coexist. High risks mean possible high returns. This type of insurance policy product is launched for this purpose.

Ideally, they contribute to the accumulation of cash value and at the same time help maintain the basic costs of the insurance policy and pay it in a tax-friendly way.

Survival Will Life Insurance

There are mainly 3 products:

1. BrightLife^® Grow Survivorship
2. BrightLife^® Protect Survivorship
3. Athena Survivorship Universal Life℠ IV

The miscellaneous situation requires the support of miscellaneous products. This is the original intention of AXA Life to develop these types of products.

It should be noted that this type of production of testament products is usually used for the accumulation or inheritance of assets, and the protection part of the insurance policy is for two people, not just one.

If you have such a need, be sure to consult a practicing broker for understanding in order to tailor it.

Participating whole life insurance products

AXA's participating life insurance products are very simple, with constant premiums and guaranteed death compensation.If the premium is paid normally every time, when the insured is 100 years old, the guaranteed return is equal to the minimum cash value of the insured amount.

Like most whole life insurance products, you can withdraw cash by lending yourself (or surrendering the insurance), but unless you repay the loan, it will affect the long-term operation of the policy and the death compensation.

The 3 basic elements of AXA Life’s participating whole life insurance:

1. Accept insurance from 0-85 years old (based on user ratings)
2. Guarantee to provide protection for certain users
3. Minimum death benefit/insurance $50,000

It should be noted that once the policy is officially effective, you will not be able to reduce the sum assured.This is also slightly different from the dividend-type whole life insurance of many other life insurance companies, such as New York Life, Northwest Mutual Life or MassMutual Mutual Life.

The optional riders include disability premium reduction, child term life insurance, pre-mortem benefit riders, and automatic borrowing from the policy to cover missed premium payments.

Final evaluation

Although AXA Life has a complete range of products and strong financial resources, we tend to be more suitable for customers who purchase whole life insurance.If you are looking for a cheap term life insurance product, consider looking elsewhere.

But if you or your family need a strong, financially stable life group to take care of your estate planning, lifetime protection, or a wealth that needs to be accumulated, then AXA may be a good choice.