Combination of Term Life and Disability: Great Product by AXA

July 30th, 2010 Posted in Ski Holiday Insurance

Insurer AXA enjoys an very good reputation all around the world with a web of over four thousand brokers and associates almost everywhere. In AXA they have over 2000 well-qualified colleagues who can help individuals and businesses to choose from a variety of good term, critical illness and disability insurance products and fine art collectibles insurance plans.

AXA’s Universal Life Insurance combines flexible life insurance with a savings component. Another well-known offer is the AXA Art policy, where museums or galleries can protect their valued purchases such as paintings or, sculptures and much more.

AXA’s Term10 & Term20 life insurance policies have exclusive characteristic that many consumers are completely unaware of. AXA Canada is the sole life insurer here to prepare a term product with a ready-made Extreme Disability Benefit (EDB). Sometimes cases, the cost is less than normal term insurance policies. The pro of this coverage is that, not only is the insured’s loved ones covered if he/she dies during the agreed term, but the policy includes the added protection of the EDB. This characteristic can grant added value to citizens who live with lengthy and often unsafe winter driving conditions. The Extreme Disability Benefit provides out half of the policy sum (up to a maximum of $250,000) for individuals who suffer the disability. An extreme disability claim requires the claimant to have been influenced by a permanent disability and inevitably needs assistance with five of the seven aspects of normal living.

I can see there are some boundaries bounded to this AXA life insurance policy, and it can not be exchanged with standard disability product (which covers a much wider spectrum of disabilities). The ED must occur before age of sixty, and this claim lowers the death benefit claim dollar-for-dollar. Therefore, if anyone with a $600,000 life insurance policy develops an extreme disability, and subsequently dies–the $250,000 EDB will be abstracted from the $600,000 life insurance payout.