AXA Early Saver Plus Review
The complete Pros and Cons on AXA Early Saver Plus
AXA Early Saver Plus offers up to 1.57% per annum guaranteed returns with coverage of 101% of total premiums paid for Death, TPD, and Terminal Illness
AXA Early Saver Plus product details
- Life policy – Endowment and Saving policy
- Age of entry
- Life Assured: 0 to 60 years old
- Policyholder: 18 to 60 years old
- High Guaranteed Returns
- Receive up to 1.57% per annum guaranteed returns in the last 3 policy years
- Payout Option
- Start receiving annual payouts from the 3rd year before the end of the policy term or
- Reinvest the returns to accumulate a larger lump-sum payout upon policy maturity
- Flexible Premium Terms
- Choose to pay premiums over 5 years or 10 years
- Choose a policy term of 10 to 25 years
- Coverage
- Be covered 101% of total premiums paid against Death, Total and Permanent Disability, and Terminal Illness
- Additional 50% benefit payout if the cause of Death is accidental
- Be covered 101% of total premiums paid against Death, Total and Permanent Disability, and Terminal Illness
- Hassle-free application
- Guaranteed acceptance with no health questions asked
Read about: Endowment and Saving policy: How does it work?
Read about: Endowment and Saving policy: Is it the best option?
Features of AXA Early Saver Plus at a glance
Cash and Cash Withdrawal Benefits
Cash value: Yes
Cash withdrawal benefits: Yes
Health and Insurance Coverage
Death: Yes
Total Permanent Disability: Yes
Terminal Illness: Yes
Critical Illness: No
Early Critical Illness: No
Health and Insurance Coverage Multiplier
Death: No
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No
Optional Add-on Riders
- Critical Illness PremiumEraser
- Premium Waiver
- Payer PremiumEraser (DTPD/DTPDCI)
- Payer PremiumEraser (UN/DTPDUN/DTPDCIUN)
Additional Features and Benefits
Yes.
For further information and details, refer to AXA website. Alternatively, fill-up the form below and let us advise accordingly.
Read about: Effects of compounding returns on your saving
Read about: Where do I start with financial planning
Policy Illustration for AXA Early Saver Plus, Gerald
Gerald purchases AXA Early Saver Plus to save for his son’s marriage gift. He chooses to pay S$20,004.75 yearly over the next 10 years and have the policy mature in 20 years.
In 10 years, Gerald finishes premium payment with a total of S$200,047 paid in premiums. He decides to accumulate the payouts for a larger maturity payout.
In 20 years, Gerald is expected to receive a projected S$342,554 in a lump sum to give his son as a marriage endowment gift to spend as he wishes.
Of the projected payout, S$236,100 is guaranteed, and S$106,454 is non-guaranteed.
Policy Illustration for AXA Early Saver Plus, Daryl
Daryl purchases AXA Early Save Plus to save for his future endeavors. He chooses to pay S$20,004,19 yearly over the next 10 years and have the policy mature in 25 years.
In 10 years, Daryl finishes premium payment with a total of S$200,041 paid in premiums. He decides to accumulate the payouts for a larger maturity payout.
In 25 years, Daryl is expected to receive a projected S$433,281 in a lump sum to fund his needs and wants according to his wishes.
Of the total projected payout, S$267,400 is guaranteed, and S$165,881 is non-guaranteed.
Significant Differences in Gerald’s vs Daryl’s AXA Early Saver Plus Journey
For the same 10-year premium term and almost the same amount of total premiums paid. Daryl receives a significantly larger cheque than Gerald.
This is because Daryl chose a policy term 5 years more than Gerald, allowing for his savings to greatly compound even in such a short time.
AXA Early Saver Plus may be suitable if you are looking for
AXA Early Saver Plus may potentially be a good fit if the following matters to you:
- A hassle-free application without medical underwriting
- Saving over a regular period of time
- Short to medium term endowment and savings plan
- Planning for your children’s future education costs
- To potentially generate higher financial returns compared to bank accounts
- Education endowment saving policy with riders to waive future premiums due to unforeseen circumstances
AXA Early Saver Plus may not be suitable if you are looking for
AXA Early Saver Plus may potentially be a bad fit if the following matters to you:
- Liquidity or flexibility of withdrawal in your Insurance policy.
- Health and Protection coverage
- High insurance coverage for Death, Total and Permanent Disability, or Terminal Illness
- Insurance coverage for Early Critical Illness or Critical Illness
- Potentially higher financial returns compared to a pure investment product.
- Insurance policy with a high surrender value in the early years of the policy.
Read About: How can I accumulate a million dollar (Realistically)
Further considerations on AXA Early Saver Plus
- How is AXA or AXA Early Saver Plus investment returns based on historical performance?
- How does AXA Early Saver Plus compare with Endowment policy from other insurance companies?
- Can AXA Early Saver Plus fulfill my financial, insurance, health, and protection needs?
The above information may not fully highlight all the product details and features on AXA Early Saver Plus. Talk to us or seek advice from a financial adviser before making any decision about AXA Early Saver Plus.
Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering to take up.
Read about: How can I accumulate a million dollar (Realistically)
Read About: 3 best Savings plans and endowment policies in Singapore (updated Jan 2023)
Where can I compare the payout and benefits of saving plans and endowment policies?
Before committing to an insurance policy, it certainly pays to make an effort to compare. Specific product features, benefits and payouts will differ more than you think across insurance companies. Why regret only years later, when you find out that you are not getting the best insurance policy available for the premium paid?
Use our Compare NOW feature to receive the most competitive quotes on saving plans and endowment policies.
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Is AXA Early Saver Plus suitable for me?
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