2005
(16/05/2005) AXA cuts guaranteed life or earlier critical illness rates
AXA is cutting rates on its guaranteed life or earlier critical illness product only, with effect from 16 May 2005. The reduction is in response to changes in the market.
Premiums are being reduced by an overall average of around 5%. 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) | Product | Old Premium | New Premium | % Change |
|---|---|---|---|---|
| Male, Non-Smoker, aged 25, 20 year term | Level Life or Earlier CI Cover | £20.79 | £19.73 | -5.1% |
| Joint male & female, Non-Smokers, aged 35, 20 year term | Level Life or Earlier CI Cover | £78.14 | £71.62 | -8.3% |
| Male, Smoker, aged 40, 20 year term | Decreasing Life or Earlier CI Cover | £87.89 | £76.52 | -12.9% |
| Joint male & female, Non-Smokers, aged 40, 15 year term | Decreasing Life or Earlier CI Cover | £66.03 | £60.35 | -8.6% |
Note: Exact ages used. Premium changes for specific cases will vary.
Iain Mallon, Head of Protection at AXA, said: “These reductions in premiums keep our life or earlier critical illness rates competitive in a fast-moving market. We are committed to ensuring that AXA protection products combine high quality cover with competitive rates.”
- Ends -
More information
If you are a journalist with an enquiry, please contact one of our media team
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.