AXA Life Insurance Reviews and Comparison - Seedly
 
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Stocks Discussion

Investments

AXA Life Insurance

Financial Planners

Unit Trust

Hi anon, You bring up a very interesting question. I tried to find more info on the fund and managed to dig up the factsheet here: https://webcms.finexisam.com/assets/publication/factsheet/201908Factsheet-FGOPlus.pdf Seems like the fund is rather new and seems to be buying into a basket of funds and ETFs. I would advise treading with caution. I'll update if I can find out more. A 60% allocation to equities is a bit on the aggressive side, but not overly so. What else were you told about this fund? In theory, you could buy a number of the sub-components of the funds yourself, such as the Eastspring Japan Dynamic fund. The minimum entry seems high, regardless of share class. There doesn't seem to be any further information on the weights of each of the top 5 holdings, which makes it a little hard to analyze. Having exposure to Asian/US equities is okay, as there are bonds to balance out the portfolio.

AXA Life Insurance

Investment Linked Policies (ILP)

Investments

I don't advocate mixing investments with insurance. Investments should always give you the flexibility to liquidate whenever, without any penalty whatsoever (other than being able to accept the market price of your investments when you liquidate, as well as transactional costs when you buy/sell). In a regular premium ILP, you are probably going to be hit by many different charges. A very quick look at the WA product summary lists the following fees: 1. Account maintenance fee 2. Investment management fee 3. Early encashment charge 4. Partial withdrawal charge 5. Bonus recovery charge 6. Redemption and Switching fee (currently 0, but they have the right to change it) That's not counting the fund charges which are priced in at the fund level. I would not think that I would want to pay so many fees, and find myself locked in without the ability to withdrawal penalty-free should I need my funds. You would have more options in terms of asset classes, availability of funds, etc and greater control if you directly invest, whether on your own or with the assistance of an independent advisor like myself. The options are very wide when it comes to the investment universe. Speak to someone to get an understanding of your risk appetite, motives, objectives, etc before you start investing. The worst thing you could do is rush into the flavour of the month without doing your research. Global markets (especially the US) may look good at this point, but when you invest, it is for the long run and you need to have a strategy to address this.

Insurance

Investments

CPF IS

AXA Life Insurance

Jonathan Chia Guangrong
Jonathan Chia Guangrong, Fund Manager at JCG Fund
Level 8. Wizard
Updated on 07 Jun 2019
Firstly, an agent cannot switch funds on client's behalf without specific instructions to do so. Can recommend a new fund to switch into, but final instructions still need to come from client. The new assigned agent not following up with your mum is frankly nothing new. A lot of agents from what I see do not follow up with orphan clients until very much later. Secondly, there are a lot of charges with regards to unit trusts. I'm of the strong personal opinion that CPF funds should not be used for unit trusts, mainly due to said charges. Not to mention that fees still need to be paid when the fund delivers a negative return (yes you pay for it and not the fund manager). For your mum's case, the fund still generated returns albeit at a lower rate as compared to OA account's guaranteed rates. This is the opportunity cost. Personal opinon, your mum should leave the funds in her OA account unless she knows how to pick stocks / buy into reits on her own.
About AXA Life Insurance
Term Life Insurance PlansAXA Term Protector, AXA Term Protector Premium, DIRECT – AXA Term Lite
Whole Life Insurance PlansAXA Life Treasure, DIRECT – AXA Life Lite
Critical Illness PlansAXA CritiCare for Her, AXA CritiCare for Him, Early Stage CritiCare, SmartCare Critical, SmartCare Junior
RidersEarly Critical Illness Payout, Advance Critical Illness Payout, Advance Total and Permanent Disability Payout, Disability Cash Benefit, Critical Illness Plus Benefit, Personal Accident Benefit, Guaranteed Survival Payout, Premium Waiver, Payer PremiumEraser, Critical Illness PremiumEraser, DIRECT – AXA TermCare, DIRECT – AXA Lifecare
Contact Information+65 6880 4888 (Overseas Calls) or 1800 880 4888 (Within Singapore); Monday to Friday: 9am to 5.30pm, Weekends and Public Holiday Closed

About AXA

A wholly owned subsidiary of the AXA Group, AXA Insurance Singapore is a leading general insurance service provider in Singapore. In 2019, AXA Singapore has partnered with Australian-based regulatory technology Kyckr in developing automated solutions and new insurance related services by harnessing Kyck's application programming interface. This project funding has been approved by the Monetary Authority of Singapore (MAS) for its innovative contribution to the insurance industry in Singapore. AXA strive to provide innovative insurance solutions, be it life or general, for both personal and business needs of their customers.

Term Life Investment Plans

1.       AXA Term Protector

Sum Assured: At least S$100,000

Eligibility: Between 1 month and 70 years of age (Age Nearest Birthday)

Term Duration:

(a)    Term-to-age: Choose to be covered up to age 50, 55, 60, 65, 70, 75 or 99

(b)    Renewable Term: Choose to be covered for a period of 5, 10, 15, 20, 25, or 30 years

Premium Payout Terms:

(a)    Term-to-age: Choose to pay 15, 20 years or for as long as your protection lasts

(b)    Renewable Term: Choose to pay for as long as your protection lasts. Single Premium is only available for a coverage period of 5, 10 or 15 years

Riders: Early Critical Illness Payout, Advance Critical Illness Payout, Advance Total and Permanent Disability Payout, Disability Cash Benefit, Critical Illness Plus Benefit, Personal Accident Benefit, Guaranteed Survival Payout

 

2.       AXA Term Protector Premium

Sum Assured: At least S$2,000,000

Eligibility: Between 1 month and 70 years of age (Age Nearest Birthday)

Term Duration:

(c)     Term-to-age: Choose to be covered up to age 50, 55, 60, 65, 70, 75 or 99

(d)    Renewable Term: Choose to be covered for a period of 5, 10, 15, 20, 25, or 30 years

Premium Payout Terms:

(c)     Term-to-age: Choose to pay 15, 20 years or for as long as your protection lasts

(d)    Renewable Term: Choose to pay for as long as your protection lasts. Single Premium is only available for a coverage period of 5, 10 or 15 years

Riders: Early Critical Illness Payout, Advance Critical Illness Payout, Advance Total and Permanent Disability Payout, Disability Cash Benefit, Critical Illness Plus Benefit, Personal Accident Benefit, Guaranteed Survival Payout, Premium Waiver, Payer PremiumEraser, Critical Illness PremiumEraser

 

3.       DIRECT – AXA Term Lite

Sum Assured: S$50,000 – S$400,000

(a)    For term duration of 5 years (renewable) or 20 years (non-renewable): 18 to 65 years of age

(b)    For term duration up to 65 years of age: 18 to 60 years of age

Term Duration: 5 years (renewable); or 20 years (non-renewable); or up to age 65 (non-renewable)

Premium Payment Term: Up to 70 or 80 years of age

Rider: DIRECT – AXA TermCare

Whole Life Insurance Plans

1.         AXA Life Treasure

Sum Assured: At least S$25,000

Eligibility:

(a)    Insured Person: 1 month to 65 years of age

(b)    Policyholder: 18 to 99 years of age

Term Duration: Lifetime

Premium Pay out term: Choice to pay over 10, 15, 20, 25 or 30 year

Rider: Multiplier Benefit, Accidental Death Benefit, Early Critical Illness (ECI) Benefit and Critical Illness (CI) Benefit, Critical Illness Plus, Disability Cash Benefit, Premium Waiver Benefit

 

2.       DIRECT – AXA Life Lite

Sum Assured: S$50,000 – S$250,000

Eligibility:

(a)    For payment terms up to 70 years of age: 18 to 60 years of age

(b)    For payment terms up to 80 years of age: 18 to 65 years of age

Term Duration: Lifetime

Premium Payment Term: Up to 70 or 80 years of age

Rider: DIRECT – AXA Lifecare

Critical Illness Plans

There are 5 types of Critical Illness plans for every life stage you are at:

-          AXA CritiCare for Her

-          AXA CritiCare for Him

-          Early Stage CritiCare

-          SmartCare Critical

-          SmartCare Junior