AXA Life Insurance Review 2025
AXA is one of the largest companies in the world.
Premiums that have to be paid each month can be chosen to be from £4 to £74.
AXA is one of the largest companies in the world.
Premiums that have to be paid each month can be chosen to be from £4 to £74.
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AXA is one of the largest companies in the world. It was founded in France in 1816 and has been headquartered in Paris since then. Now AXA operates in five main fields: property and casualty, life insurance and savings, asset management, international insurance and other financial services.
AXA life insurance services can be divided into three parts: Over 50 Life Cover Plan, life insurance and funeral plans. Over 50s Life Cover Plan is designed for elderly people who would find it hard to get good conditions for normal life insurance. If a person is between 50 and 85 years old, they can apply for this AXA insurance plan.
Premiums that have to be paid each month can be chosen to be from £4 to £74. £4 per month is one of the lowest available monthly premiums in the UK insurance market. However, it must be remembered that if a person chooses to pay a higher premium, the cash sum cannot exceed £20,000. Importantly, the agreed premium and sum of cover will never change. Moreover, if a person dies within the first two years of insurance, their dependents will be paid a lump sum equal to 1.5 times the paid premiums. Furthermore, the cover lasts until the person keeps paying the premiums. If a person stops payments, the cover also ends.
Life insurance in the UK is provided by AXA subsidiary “Sun Life” insurance. It offers term life insurance with possible time periods of 10, 15, 20, 25 or 30 years. However, the term must end before the person reaches the age of 70 years. Furthermore, premiums can start from £5, but the chosen cash sum cannot exceed £150,000. It is the maximum lump sum paid in case of death for a successful claim (which can also be claimed if the person is diagnosed with a terminal illness from AXA’s list).
Someone who wants Sun Life insurance must answer five questions asked by this insurance provider. Moreover, the premium depends on several factors: the chosen cash sum and term, the person’s age and sex, and whether the individual smokes. Furthermore, if a person decides to terminate the insurance policy and stops paying the premiums, all paid premiums will be lost and the individual will get nothing. However, Sun Life Insurance, unlike other insurance providers, offers a 15% no-claims bonus. It means that if a person reaches the end of the term of insurance and has not made a claim, they will get 15% of all their premiums back.
We compare plans from the leading life insurance providers
Funeral plans can be divided into two parts: funeral assist and single payment. Funeral assist can be used by people aged 50 to 80 and every applicant is accepted with no medical questions or history required. Monthly premiums are paid and in case of death some funeral services’ costs are covered. It is always important to check which funeral services are covered and which are not. If a single payment policy is chosen, then a lump sum is paid directly to Co-operative Funeralcare. Applicants must be at least 18 years old and if a person wants to cancel their single payment policy, a refund is not guaranteed and may not be refunded.
