{"id":5864,"date":"2010-04-23T23:49:46","date_gmt":"2010-04-23T12:49:46","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=5864"},"modified":"2020-02-06T08:09:38","modified_gmt":"2020-02-05T21:09:38","slug":"axa-launches-upgrade-to-products-services","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2010\/04\/23\/axa-launches-upgrade-to-products-services\/","title":{"rendered":"AXA Launches Upgrade to Products, Services"},"content":{"rendered":"<p>AXA Australia has launched major changes to its financial protection products and associated services with effect from 19 April 2010.<\/p>\n<p>Key initiatives include:<\/p>\n<p><!--more--><\/p>\n<p><strong>AXA&#8217;s Elevate Integration<\/strong><\/p>\n<p>AXA&#8217;s retail insurance range, AXA&#8217;s Elevate, has replaced the insurer&#8217;s group insurance offering across its Summit, Generations and iAccess investment platforms.<\/p>\n<p><strong>Launch of Blended Premiums<\/strong><\/p>\n<p>Blended premiums are now available as\u00a0a hybrid plan alternative, combining elements of both level and stepped premium structures (see <a href=\"https:\/\/riskinfo.com.au\/news\/2010\/03\/03\/axa-to-launch-blended-premium-option\/\" target=\"_self\" rel=\"noopener noreferrer\">AXA to Launch Blended Premium Option<\/a>).<\/p>\n<p>Key features of the blended premium structure include:<\/p>\n<ul>\n<li>Entry age: 25 to 50<\/li>\n<li>Stepped premium rates apply for first 10 years<\/li>\n<li>Level premiums thereafter to age 60, except where CPI increases have been accepted<\/li>\n<li>Reversion to stepped premiums after age 60<\/li>\n<\/ul>\n<p>Blended premiums are available across lump sum plans, across both ordinary and superannuation contracts.<\/p>\n<p><strong>Linking Insurance Plans to SMSFs<\/strong><\/p>\n<p>AXA has Clients can now link their non-superannuation trauma and TPD insurance options to a Self Managed Superannuation Fund (SMSF) owned life insurance plan.<\/p>\n<p>AXA Head of Individual Life, <strong>Stephen Rosengren<\/strong>, commented &#8220;Clients will now be able to benefit from the best of both worlds with tax-effective life insurance in superannuation and faster access to their benefits in the event of a claim.&#8221;<\/p>\n<p>These three main initiatives are underpinned\u00a0by other product and service enhancements, including:<\/p>\n<ul>\n<li>Reduced stepped premiums on life and TPD cover:\u00a01% &#8211; 2% life cover discount and 1.5% &#8211; 3% TPD cover discount, based on age bands 25 &#8211; 34 next birthday and 35+next birthday<\/li>\n<li>Increase to large sum discounts for sums insured of $2 million or more<\/li>\n<li>Features enhancements to AXA&#8217;s SuperLink plans, including:\n<ul>\n<li>Life buy-back options<\/li>\n<li>access for owners of self-managed superannuation funds<\/li>\n<li>TPD options<\/li>\n<\/ul>\n<\/li>\n<li>An easier to complete questionnaire for children&#8217;s trauma options<\/li>\n<li>Clearer CPI rules for reinstated trauma and life plans<\/li>\n<li>More concise documents that are easy to understand<\/li>\n<\/ul>\n<p><strong>Continuation of Life Cover Upsell Campaign<\/strong><\/p>\n<p>AXA also advises it is continuing its life cover upsell campaign for\u00a0clients who did not respond to the original campaign in November 2009.<\/p>\n<p>Eligible clients are offered the chance to increase their life insurance sum insured by 25 per cent, without the need for underwriting or application forms.<\/p>\n<p>Clients were sent letters on 19 April and have one month to respond.<\/p>\n<p>A new product disclosure statement has been issued, effective 19 April 2010, and can be accessed by clicking the following link:\u00a0<a href=\"https:\/\/riskinfo.com.au\/resource-centre\/product-disclosure-statements\/axas-elevate-insurance-solutions-190410\/\" target=\"_self\" rel=\"noopener noreferrer\">AXA&#8217;s Elevate Insurance Solutions No 8\u00a0190410<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AXA Australia has launched major changes to its financial protection products and associated services with effect from 19 April 2010. Key initiatives include:<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5864","post","type-post","status-publish","format-standard","category-products"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/5864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=5864"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/5864\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=5864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=5864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=5864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}