AXA Philippines has launched a new retirement plan to help the citizens address their financial well-being post retirement.
Dubbed Retire Smart, the new investment programme leverages a two-pronged approach for fund management while allowing the customer to select the length of the programme in five-year increments from 2030 up to 2045.
AXA said that majority of the funds will be invested into high-risk, high-return financial instruments during the first phase of the Retire Smart time period to maximise fund growth for the individual.
After that, the cycle will be reversed when approaching the target retirement date, with funds invested into less-volatile instruments with the goal of protecting the returns on the investment made.
Besides the investment programme, Retire Smart will provide a life insurance coverage equivalent to at least five times up to 25 times the client’s annual premium. It is meant to take care of the client’s family in the event of any unforeseen circumstances.
Furthermore, the policyholders can also add additional coverage options such as a Critical Conditions Rider which pays a fixed amount when the policyholders are diagnosed with any of the covered major illnesses including cancer, stroke, heart attack and dengue.
The Care Rider pays a fixed amount when the policyholders are diagnosed with any of the covered major illnesses including cancer, stroke, heart attack and dengue.
In addition, the Secure Rider gives the policyholder additional cash benefits if death is the result of an accident or if the accident resulted to dismemberment, disablement and/or major burns.
AXA Philippines president and CEO Rahul Hora said: “AXA Philippines knows the value of having a solid game plan. To be able to pursue what you are passionate about when you retire, you need the right plan to achieve financial independence.
“With Retire Smart, we offer a flexible investment package that allows you to truly enjoy your life when you retire.”