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AXA Life Insurance

AXA Life InsuranceAXA is one of the largest insurance companies in the UK and focuses on life and pensions, wealth management, protection, health and general insurance and employs around 12,000 people in the UK and Ireland and has approximately 10 million UK customers. AXA Life Insurance is part of the AXA Group, which employs 216,000 people worldwide and has 96 millions customers. AXA Life was formed in 1997 after the merger of Sun Life Group and AXA Equity & Law. As well as life insurance AXA Life Insurance offers group and personal pensions, stakeholder pensions and protection insurance.

When Is AXA Life Insurance a Good Idea?

Life insurance is essential if you have anyone that depends on you financially. AXA Life Insurance can cover you for a set period from one to 40 years. If you are diagnosed with a terminal illness the policy will also pay out.

If you take out a joint life insurance policy and one of you dies, or the policy pays out because of a terminal illness, the joint policy will end. With AXA Life Insurance the policy can carry on without the policy being underwritten again. However to be eligible for this replacement cover the person who didn’t make a claim must be under 50 and have been accepted on standard terms when the policy started.

With most life insurance policies you aren’t covered until the application has been processed and you have started paying premiums. With AXA Life Insurance you are also covered while your application is processed. In order to qualify for this free cover you need to be a UK resident, under 59 when you make your application and not applying to other companies for cover. The maximum free cover is £500,000 or the amount of cover you have applied for.

Types of AXA Life Insurance

AXA offers two types of life insurance – level cover and decreasing cover. Level cover life insurance remains the same for the life of the policy and as a result the amount insured and the amount you pay each month don’t change. Decreasing cover life insurance is normally used to pay off a mortgage as the amount the policy pays out reduces over time. Like level cover the amount you pay is fixed from the start and won’t change over the life of the policy. Because the amount it will pay out decreases over time decreasing cover life insurance is cheaper than level cover life insurance.

AXA Life cover is available to:

  • UK residents only.
  • People aged between 18 and 83 when starting the policy.
  • Maximum age is 85 when the cover ends.
  • Policies for one to 40 years.

How to Find the Right Life Insurance Policy

Life insurance is complicated and it's essential that you choose the right policy. We specialise in life insurance and will search the market and help you find the right cover at the best price available. Quotes for life insurance are free and you are under no obligation. Compare Life Insurance Plans Today.

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