AXA launches 'LifeDelight Insurance Plan'

HONG KONG,Oct. 28,2019 -- As a life partner for its customers,AXA Hong Kong understands that an intimate life protection insurance plan is important for life. By taking up life protection,customers can ensure their future is protected no matter what,equivalent to the gift of a secure and happy life.AXA has therefore launched the 'LifeDelight Insurance Plan'. For customers with just 10 or 18 years of affordable premium payments,LifeDelight offers life protection up to age 138[1] plus potential growth on legacy throughout the life journey,paving the way to a brighter future for their loved ones and giving them greater peace of mind.

AXA Hong Kong launched the ‘LifeDelight Insurance Plan’,providing extra protection for customers and their families for a more secure future. There is a terminal dividend lock-in option,allowing customers to seize market opportunities and accumulate wealth.

Mr Kevin Chor,Chief Life and Market Development Officer,AXA Hong Kong and Macau,said,"An ageing population is becoming a fact in Hong Kong,where we are seeing rising longevity. The market has been lacking truly flexible life protection insurance plan. To address this need,AXA Hong Kong has launched the 'LifeDelight Insurance Plan',providing extra protection for customers and their families for a more secure future. There is even a terminal dividend lock-in option,allowing customers to seize market opportunities and accumulate wealth."

Protects customers and their loved ones against the unforeseen

LifeDelight can protect customers and their loved ones against the unforeseen,and includes 'Care 20 Extra Death Benefit'. 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. That way,customers can be assured that their loved ones are being taken care of financially. Also,LifeDelight offers life protection up to age 138[1],reflecting the adage that "It's never too late to protect".

Wealth accumulation with guaranteed cash value and non-guaranteed terminal dividend

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[2],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.

Withdrawals from terminal dividend lock-in account for accessible cash

The customer can also 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[3],which is rolling over. Customers can withdraw part or all of the value of the terminal dividend lock-in account in a lump sum[4] from the terminal dividend lock-in account,anytime,without surrendering the policy,to accommodate their financial needs at different stages of their life.

Guaranteed Insurability Option

While the LifeDelight policy is in effect,the eligible customers have an option to apply for a new life insurance policy as may be determined by AXA Hong Kong for the insured with no further evidence of health requiredwithin a specified period of time. The sum insured of the new policy can be up to 35% of the basic sum insured of the LifeDelight policy.

Death benefit settlement option

LifeDelight is a flexible life protection insurance plan. AXA Hong Kong can pay the death proceeds in a lump sum or by regular instalments according to the customer's own choice. The settlement term can be 10 / 20 / 30 years,and the mode of settlement can be annually or monthly. Diversified choices let customers make the most suitable choice when needed. Additionally,to meet their different and individual needs,customers can also combine LifeDelight with a wide range of optional supplements such as critical illness,medical,accident and disability protection.

To know more about 'LifeDelight Insurance Plan',please visit: https://www.axa.com.hk/en/life-delight-insurance-plan

The above information is for reference only. For details of the product features,content,terms,conditions and exclusions,please refer to the relevant product brochure.

[1]"Age 138" refers to the policy anniversary on or immediately following the insured's 138th birthday,whichever is earlier.

[2]The underlying cash value rate used to calculate the cash value is guaranteed by the Company. If there is any change in the basic sum insured,the corresponding cash value will be adjusted accordingly.

[3] Only one application can be made within a policy year. Percentage of aggregated terminal dividend lock-in may be changed by the Company at its sole discretion from time to time.

[4] No withdrawal from the terminal dividend lock-in account will be allowed if the amount of withdrawal is less than the minimum amount as may be determined by the Company from time to time.

ABOUT AXA HONG KONG

AXA Hong Kong and Macau,a member of the AXA Group,prides itself on serving over 1.3 million customers[i] in the region. In addition to being the #1 global Property & Casualty commercial lines insurer[ii],we are also one of the largest health protection providers in Hong Kong and Macau.

'Empowering people to live a better life' is the goal of AXA Hong Kong and Macau,which is reflected in everything we do. We are one of the most diversified insurers,providing a full range of coverage for individual and commercial customers. We offer all-round,integrated solutions across Life,Health and Property & Casualty to address all their insurance needs.

As an innovative insurer,we leverage on Big Data and AI to transform the customer experience end-to-end,making insurance simpler and more personal. We continue to drive innovation notably in health and protection,supporting customers in prevention,treatment and recovery.

We also believe it is our inherent responsibility to support the communities in which we operate. AXA Foundation is our flagship corporate social responsibility programme covering all of our efforts in promoting health,education and community support to create a positive and lasting impact in Hong Kong and Macau.

THIS PRESS RELEASE IS AVAILABLE ON AXA'S WEBSITE: AXA.COM.HK

[i] Including customers of AXA China Region Insurance Company Limited,AXA China Region Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability),and AXA General Insurance Hong Kong Limited

[ii] AXA Corporate Solutions,AXA Matrix Risk Consultants,AXA Insurance Company,and AXA Art with AXA XL's insurance and reinsurance operations combined

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained herein may be forward-looking statements including,but not limited to,statements that are predictions of or indicate future events,trends,plans,expectations or objectives. Undue reliance should not be placed on such statements because,by their nature,they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause AXA HONG KONG's actual results to differ materially from those expressed or implied in such forward-looking statements. Please refer to Part 4 - "Risk Factors and Risk Management" of AXA HONG KONG's Registration Document for the year ended December 31,2017,for a description of certain important factors,risks and uncertainties that may affect AXA HONG KONG's business and/or results of operations. AXA HONG KONG undertakes no obligation to publicly update or revise any of these forward-looking statements,whether to reflect new information,future events or circumstances or otherwise,except as required by applicable laws and regulations.

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