AXA Hong Kong's LifeDelight Insurance Plan goes live

The new plan offers life protection up to age 138.

AXA Hong Kong has launched a new offering for those with 10 or 18 years of affordable premium payments, an announcement revealed.

Its LifeDelight Insurance Plan offers life protection up to age 138 and can also be applied to their families. It includes a ‘Care 20 Extra Death Benefit’, where if the death benefit becomes payable within the first 20 years of the policy, AXA Hong Kong will pay an additional 35% of the basic sum insured.

The affordable premium payments of LifeDelight are paid for only 10 years, and can boost potential returns of a terminal dividend, which is an aid to maximise the potential growth on legacy. In addition, LifeDelight carries a cash value, the guaranteed cash surrender value of which is payable upon policy maturity or policy surrender.

When the customer’s policy has been in force for 3 years, the customer may also benefit from a terminal dividend. Terminal dividend is determined at least annually commencing from the end of the third policy year.

Customer can exercise a terminal dividend lock-in option to capture and secure any market upside. Within 30 days from each policy anniversary starting from the 25th policy anniversary (if the premium payment term is 10 years) or the 30th policy anniversary (if the premium payment term is 18 years), the customer can apply to transfer a certain percentage (up to 60%) of the latest value of the terminal dividend, which is rolling over. Customers can withdraw part or all of the value of the terminal dividend lock-in account in a lump sum from the terminal dividend lock-in account, anytime, without surrendering the policy, to accommodate their financial needs at different stages of their life.

AXA Hong Kong can pay the death proceeds in a lump sum or by regular instalments according to the customer’s own choice, with the settlement term being 10, 20 or 30 years, and the mode of settlement can be annually or monthly.