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January 28, 2014updated 13 Apr 2017 8:36am

AXA rolls out new life insurance product BrightLife Protect

AXA has introduced its new life insurance policy that has been designed to meet the protection needs of individuals, families and businesses cost-effectively.

By Verdict Staff

Dubbed as BrightLife Protect, the new product is a flexible, premium universal life insurance policy with an index-linked interest option with a low cost structure and flexibility to adjust to a policyholder’s changing needs.

AXA US Life and Retirement business head Nick Lane said, "In the U.S., individual life insurance ownership is at a 50-year low, putting many American families and businesses at financial risk."

"At AXA, we’re responding to a changing marketplace that demands affordable coverage as never before.

BrightLife Protect is a product designed to bring financial protection within reach of the modern American family juggling multiple financial priorities, such as saving for a new car, planning for college, and putting money aside for retirement," Lane added.

For the policy, premiums can be allocated to a fixed account (guaranteed interest account) that offers a guaranteed rate of return and/or to a select account, an index-linked interest option tied to the S&P 500.

It has also an option to add a long-term care services rider for an additional charge, which works as an acceleration of the life insurance policy’s death benefit that can be used to pay for qualified long-term care expenses.

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