AXA Life Treasure II Whole Life Insurance – Taking the best from every aspects

AXA’s whole life insurance has rarely feature as one of the best whole life insurance plan in the market, but currently that might differ. The New AXA Whole Life Insurance has One of the longest multiplier durations (Up to age 80) as well as one of the greatest numbers of Critical Illnesses (CI). On top of that, there is additional payout for Critical Illnesses (50%) for 6 most common Total Permanent Disability (TPD) payout upon 2 out of 6 adl, is making it remarkable

This article is for general information only it is not an advise nor does it take into account the specific investment objectives, financial situation or needs of any particular person. Read our General Disclaimer

AXA Life Treasure II Features 

Choice of Premium Term

Have the choice to choose from 10, 15, 20, 25 and 30 with monthly, quarterly, semi-annual or annual payment mode.

Minimum Sum Assured

Premium starts at $25,000, allowing more flexible budget planning, especially when you pair it with the high multiplier available.

Multiplier Options and Age Limitation

• Choose x1, x2, x3, x4 to x5times of the base sum assured
• Choice of multiplier till age 65, 70 and even 80 years old

SALIENT FEATURE: No Medical Underwriting Upgrades (GIO)

On the following life milestone event, there is an option to boost your coverage with no medical check-up (GIO) required.

Life stage events include when the Life Assured gone through the following:

• Change in marital status – getting married/ divorce inclusive
• New born child/ Legal adoption included
• New purchase of property locally in Singapore
• Official first full-time employment (after graduating)
• Child of Life Assured’s first day of education in Primary, Secondary or University schools
• Death of Life Assured’s Spouse

Insured can take up another AXA life policies that are GIO*:

• AXA Life Treasure (II)
• AXA Term Protector (Term insurance)
• AXA Flexi Protector (ILP)

*Subjected to 100% of the coverage of 300,000 multiiplied coverage whichever is lower

This is a good feature because if the Life Assured’s existing AXA Whole Life plan has an eligible CI rider, you have the choice to include the CI riders in the new GIO policy that doesn’t require any medical underwriting, this includes Early Critical Illness Rider.

SALIENT FEATURE: Advanced Disability Payout

One of the few rare life insurance plans in the market that provides payout upon the inability of the insured to do 2 out of 6 activities of daily living (ADLs), coverage is applicable between 16 – 70 years old of the life insured

SALIENT FEATURE: Accidental Death Coverage – 10x (Rider)

Receive up to 10x additional Sum Assured dependent on the multiplier you select. E.g. if you select 2x multiplier, you will receive additional 4x of the sum assured upon Accidental Death, if 5x multiplier you will receive additional 10x sum assured upon Accidental Death.

High Amount of Critical Illnesses (CIs) Covered

A Total of 162 CIs, including:

• 41 Early Stage Critical Illnesses
• 37 Intermediate Stage Critical Illnesses
• 56 Advanced Stage Critical Illnesses (more than LIA’s 37 Advance Stage CIs)
• 14 Special Conditions (Additional Payouts)
• 14 Juvenile Conditions (Additional Payouts) (below 18 years old)

SALIENT FEATURE: Top Common Critical Illness Benefit (Under Early Critical Illness Benefit (II) rider)

Axa Whole Life Plan will pay an additional 50% of the original CI Sum Assured for these top 5 common advance stage CIs:

• Major Cancer
• Heart Attack
• Stroke
• Coronary Artery By-pass Surgery
• End Stage Kidney Failure

Source AXA.com.sg

The “Original CI Sum Assured” means the Sum Assured of the Early CI Benefit II rider at the time of inception. This will not change even if there were claims made previously.

We Summarise

Here is why we like AXA Life Treasure II

• Multiplier Factor of 1, 2, 3, 4, 5x
• Lenient 2 out of 6 ADL TPD Definition between Age 16 to 70
• Provide Multiplier Option till Age 65, 70  & 80
• Premium payment term choices of 10, 15, 20, 25 or 30 years
• Most Comprehensive Critical Illness Coverage with 162 Conditions (41 Early Stage, 37 Intermediate Stage, and 56 Advanced also provides additional 14 juvenile and special condition For Life)
• Additional 50% Claim With Early Ci Rider on 5 Common Critical Illnesses: Cancer, Heart Attack, Stroke, Coronary Artery Bypass & Kidney Failure
• Insured can take up another AXA life insurance during life certain life stages
• Early Care Rider allows a 100% lump sum claim of up to 350,000 (one of the highest in the market)
• Additional 10x Sum Assured Accidental Death Benefit with Accidental Rider
• Minimum Sum Assured of $25,000
• Bundle with AXA Maternity Plan

What we don’t like

• The only way to cash out is to take a policy loan or fully surrender the plan, no monthly income or partial surrender option at the later stage of the plan
• Only additional 10% of Early CI Sum Assured claimable on Special conditions, while others are 20%.

This Plan Is Not Suitable If You Want:

• A wealth growth instrument for retirement and savings purposes
• Frequent withdrawals and access of cash from the insurance coverage plan
• Short breakeven years and have high cash value early into the plan

There are many other whole life insurance plans in the market and we have identified the best 4 whole life insurance plans for your reference and AXA is one of them.

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