I just want to share with you my real experience with applying an insurance in the Philippine AXA Life Insurance Corporation. Here’s a sad but true story you can learn from.
My AXA Insurance Policy
Philippine AXA Life Insurance
First, let me introduce to you some vital information about Philippine AXA Life Insurance Corporation. It’s a financial company, a partnership between AXA Group and Metrobank Group. Based in France, AXA serves a global clientele of more than 80 million customers in more than 50 countries with over 1 billion Euros under management. They claimed as one of the world’s leaders in financial protection and wealth management. The Metrobank Group has consolidated resources amounting 649 billion pesos and capital funds of around 68 billion pesos.
My application to the Philippine AXA Life Insurance
I frequently go to a certain Metrobank branch to deposit money for my savings account. One day, a bank officer which is also an insurance agent approached and introduced me a kind of investment that would help me save and earn more in the future years. He’s quite smooth in selling the financial product and I’m very convinced of his idea to make my money grow more. At first, I’m not interested in his offer. After few weeks, I’m thinking of accepting that offer. And I went to the bank to apply for an investment insurance called Life Basix of Philippine AXA Life Insurance. I approached the same bank officer again for my application.
Life Basix of Philippine AXA Life Insurance
This kind of insurance is a regular-pay variable insurance product where a portion of the premiums/payments, net of the company’s charges in invested to a choice of fund. The kind of fund recommended by the bank officer is the Philippine Wealth Balance Fund which I opt in for. Unlike most investments, this insurance provides multiple benefits to the policyholder such as:
Guaranteed Death Benefit equivalent to at least 500% of the annual premium if no withdrawal is made.
Potential upsides from portion of the premium placed in bonds, equities and/or money market instruments, depending on your risk appetite.
Guaranteed loyalty bonus as a reward for keeping your investments with AXA.
The age covered by the insurance is up to 100 years old.
My Payment and Benefits
I pay 1,585.84 pesos monthly through automatically debiting from my savings account (ADA). It totals PhP19,030.00 annually.
For a premium of PhP19,030.00 annually, I’ll get to enjoy the following benefits:
For You
(Living Benefits)
For Your Loved Ones
(Death Benefits)
When the insured reaches 65
If the insured passes away
Based on
(PHP
Based on 8% annual rate
(PHP)
4% annual rate of return, Account value
1,468,772
Age 50
1,025.001
Or 8% annual rate of return, Account value
3,850,664
Age 60
2,547,541
Or 10% annual rate of return, Account value
6,430,519
Age 70
5,765,378
Note: The values are based on the projected performance of the fund. Sind the fund performance may vary, the values of the units are not guaranteed and will depend o the actual investment performance at that given period. The projected returns on investments are based on assumed annual rates of 4%, 8% and 10%. These rates are for illustration purposes only and do not represent maximum or minimum return on the fund.
Philippine Wealth Balance Fund
This is the type of my fund allocation. Level of risk is moderate. The funds are invested in government bonds and corporate equities.
My Account Value
The account value of my funds may go up and down depending on the market conditions. I regularly view my account value in the AXA Philippines website (www.axa.com.ph). If you are an AXA insurance policy holder, you can log-in to the website by registering first in the website. There, you can access your account value, your monthly premiums/payments transaction, etc.
What I’ve noticed in my account value is that it decreases its value by over 50%. In 4months, the total money I’ve deposited in my AXA account is around 6,000 pesos (this is the capital invested) and now it becomes for about 3,000pesos. This means that the market condition is not good. The reason might be that the stock market and prices of bonds are going down. (This is where it teaches me a lesson.)
My Approach to My AXA Insurance
I cannot risk too much if the market continues to fall in the succeeding months. In spite of that, I spent all the money in my savings accounts where my insurance payments are automatically debited due to a particular needed payment for an occasion. That’s why I’ve planned to exit for this kind of insurance investments. You may think that I should withdraw the money in my insurance account? I can’t do that. It’s in the Product Transparency Declaration (Agreement) between AXA Insurance and me that I have zero (0) withdrawable value during the first two years of the policy because the amount withdrawn will be subject to 100% surrender charge on the first two years. You can read the full AXA Insurance Product Transparency Declaration below. I don’t know how the fund managers played well the money in the market. I’m very young of age. I still have too much to learn regarding investments. It seems that I’m throwing away 1,585.84 pesos in the trash can every month.
AXA Insurance Product Transparency Declaration
Before you decide to invest in AXA Insurance, I think it’s very important that you know carefully its terms, conditions including the agreement or Product Transparency Declaration.
AXA Insurance Product Transparency Declaration
By signing off on the items listed below, I acknowledge that the same have been discussed with and thoroughly explained to me.
I understand that I am buying an investment-linked insurance product.
I understand that the principal and earnings are not guaranteed and the value of my unit investment (NAVPU) may go up or down depending on the performance of the separate funds.
I understand that the funds will be invested in Equities and/ or Bonds or a combination thereof, and will be subject to changes in market condition.
The available funds and the risks that they bear have been thoroughly discussed with me, and I have made my Fund Allocation decision based on my own judgment of and tolerance for these risks.
I understand that this product is appropriate for a long-term investment horizon.
I understand that I will have a zero (0) withdrawable value during the first two years of the policy because the amount withdrawn will be subject to 100% surrender charge on the first two years.
My own young thinking about investment
Investment is about making your money grow as time goes by. Here are my own young thinking that helps me a lot about investment that will surely help you too in your financial journey.
Never rush in pouring your money to a famous insurance company. The name matters but what matters most is the performance, integrity and reliability that the insurance company carries.
At young age, invest first in entrepreneurship or business than stock market, mutual funds, investment insurance, time deposit, etc. The business that you create can earn 100% more than the said investment vehicles. If your business has grown enough that you can afford to set aside a specific amount of money to a certain investment vehicle, then go for it. Let your money work for you.
Your investment is the reflection of the level of skills and knowledge you have regarding money, business and relationship. Think of the richest men in the world how they became rich: Carlos Slim Helu (Telecommunications provider), Warren Buffet (financial investor), Bill Gates (entrepreneur/founder of Microsoft). That’s why never stop developing your skills and explore more knowledge about money and business. If you have skills in sports like Manny Pacquiao, develop and become a master of it.
Choose which investment you can earn the most. Real estate is better than mutual funds or investment insurance. Real estate has an average 12% annual profit. Mutual funds average is 8% or lower.
That’s all for this time. I hope you learn a lot. Just drop a comment below regarding your investment experience. - https://www.affordablecebu.com/
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"My AXA Insurance Philippines Review" was written by Mary under the Finance / Wealth category. It has been read 66410 times and generated 84 comments. The article was created on 25 January 2012 and updated on 25 January 2012.
I have investments in AXA since 2015 and 8 years later, I am still at loss for about 30% of my investment. Di naman sya ganun kalaki and I only paid one-time/lump sum but still, you'd think after 8 years it would have appreciated even slightly. The only consolation I have is the insurance for the value for my original investment. Lesson learned for me but I don't see myself availing any more products from them.
Hi, anyone here still following this thread? It's almost my 4 years with AXA Axelerator, 3 years and 6 months to be exact. Comparing my actual premium paid and the fund value, it's seems like I am losing nearly 50%. Is this normal? Should I wait more months or years before I withdraw my earnings? Or am I really losing my money now? I am confused.
Is there anybody here who reach his/her 10th year in Axelerator after paying the premium for 5years?? I know this is an investment and there's a tendency of a loss, but a big loss is not acceptable and it will only mean that the insurance company is not handling the investment we entrusted to them properly.
Hope to here from anyone who reach 1o or more years already.
Hello, napansin ko lang kung sino pa yung hindi ganun kalakihan ang invest sila pa yung mas malakas mag ingay hehehe.. Oh wag kayo magalit sa akin, yun naman talaga ang napapansin ko, kahit hindi dito sa post na ito. O kung tatanungin nyo if policy holder ba ako ng AXA, ang sagot ko ay Oo! Quarterly I'm paying 45,000 pesos para sa Axelarator ko at 27,280 pesos para sa Health Max ko :) naka- isang taon na ako sa Axa at masaya at tiwala naman ako sa kakayanan ng AXA na palaguin pa ang pera ko plus i-secured pa ang future ko. Matino din naman ang financial advisor ko kaya wala rin akong masasabing masama against him kasi lahat naman halos ng tanong ko nasasagot nya, dahil doon nakapag invite pa ako ng ibang friends na kumuha ng AXA at mas malalaki pa ang kinuha nilang premium kesa sa kinuha ko hahaha! Hold on lang. Stable na company ang AXA kaya nga number 1 sa GLOBALLY hindi lang pam Pilipinas Pang Global pa hahaha! Invest and Wait. Wag atat! Darating din tayo sa ginhawa! Mabuhay po tayong lahat! God bless us all!
I am an Axa policy holder. I have 2 policies which I paid each quarter the amount of 35,000 & 36,000 on each accounts. I had 9 lapses on payments after 2 yrs. of continues payments due to financial crisis. I thought becauae of that, my policies were being terminated. Luckily, that was not the case. Axa took payments from my funds account value. When I knew that my policies are still active, I continued paying the premiums until they reached the maturity date, its 5th yr. just this Sept. 2018. I am happy knowing that my kids'education will be secured, plus I will get a rider plus bonus, and I have enough fund account value on each policy. Also, I can make a partial withdrawal on my account value if I needed to, without any surrender charge. Investments take time to grow. Let's be patient. For sure, in the right time, we will reap what we sow.
I just signed up for Axelerator after a year of thinking about it. While I think I should've signed up earlier because of my increasing premium, it's still always best to think things through.
My thoughts on how to better appreciate a VUL product: see first if the death benefit is more than your actual premium paid at least for the first few years - because that would be the primary purpose of VUL during that time.
See the projection in your policy. If after your payment term your projected account value is more or less the amount you actually invested, then I think it's still okay - you could say there's not much difference if you kept it in the bank - but did your bank give you a guaranteed death benefit in your first few years of saving?
Then check the projection on your 20th year - or the year when you think you'd more or less be retiring - is there no difference in the account value VS your first 5 years? Check the historical performance of the fund portfolio to see how realistic they are with the projection.
The author here says "Investment is about making your money grow as time goes by. " Ironically though, he/she looked at the account value after 4 months and concluded a 50% loss. I personally don't think the time that went by was long enough to make an analysis especially with investment. Real estate are good investment - but I know someone who had a house built for selling, but 3 years in and there's still no buyer. The value increased though, for sure. Then again, it's not quick money.
Even with mutual funds, you are encouraged to hold on to your investment for at least 5-10 years before seeing any significant ROI. (significant if you're lucky) I've had a mutual fund account for almost 5 years and there really are good days and bad days, but I hold on to it nonetheless.
Anyway, everyone's got an experience to learn from. With insurance products, one size never fits all.
Best thing you can do is try to get it from someone you personally know. :)
My fiancé is trying to help her cousin after the death of his mother he also contracted TB and is under medical treatment and hardship We went to axa with a power of attorney amoungst other signed and legal papers to ask for assistance they AXA say don't recognize legal document after three months and many supposed issues we are still no further AXA help there customers SURE with Axa don't Die don't get sick good insurance put your money in the bank and put OR on your accounts
AXA is nothing but a cheater! I got victimize with improper policy explanations by Metrobank staff. Never told us that it's trading that we will lose our money. We thought it's saving for 5 years and after that we can get our money in full.
I had read all the comments about VUL / insurance and investment.
You don't need to think about the investment side. always bear in mind you have this for you family.
Me and my husband got AXA life basix and my son axelertor i pay 15k every month for the 3 of us it 15 years policy.
If you are not ready to lost your money better save it thru bank. But if you want for to use it for you retirement or what ever happen . Keep it.
Don't mind the investment . Isipin mo kinabukasan nila ..
Natatawa ako sa mga comment nang iba dito hindi sila well informed daw nang agent nila. Tanung ko din marunong ba kayo mag basa ? may quote pa READ first before you sign.
Kung nagbasa kayo natanung nyo sana sa agent nyo ang mga ibig sabihin dun. I know they will give you proposal why dnt you read it..
I invested a total of 1M thinking that i will have a nice buffer after a few years. Unfortunately, as I live overseas I don’t get to chekc my accounts. I learned that my money is now only 744,000 plus, so it will take years and years for me to even get it back. The advisers sweet talk you. HUGE MISTAKE! Just put your money in the bnak, no matter how small the returns are. Apparently they deducted 35% insurance for the first 3 years, without telling me straight up.
kung naginvest ka po for long time investment tignan nio po siya in long run para hindi masakit sa dibdib. try to check after 3years or the advice is 5years and up. kung titignan niyo po siya every month. mag savings na lang po kayo sa bank. may dagdag po ata na 10pesos or 20 pesos a month. Para po sa mga may policy, please read po your policy properly. then try to share it here para we know here what kind of risk we need to expect and not to expect. thank you po
wala po ako insurance from axa. pero ang intindi ko po kasi sa ganito para sa nakakuha sa mga naka 3 years na and up. try to compute ang yearly payments for example 2500 per month so 30,000 a year. Hindi po dapat compute from 30,000 dahil may charges pa po inclusion from them. May nabasa po ako 35% for the first 3 years. so minus po natin dahil kumuha po kayo ng insurance. babayaran po talaga natin ang insurance. so ang 35 percent ng 30000 ay 10500 so ang investment po ay 19500 na lang minus pa po ang mga kinuha na riders benefits. They said it is is only for first 3 years dahil sa 4th year and up riders na lang ang bawas ng insurance sa premium. kaya po after 10 years ng maturity , do not count from 30000 yearly. Try to deduct the other charges first. Others are lucky na after 10 years kumita na because gumanda market. If you lose 30000, sure ko po napunta sa insurance. look at your death benefits covering 500,000 or 1 Million . kung iisipin okay naman po ata?
You don't get better returns just by investing for months, considering that you are a moderate risk taker. Expect better returns and value of your invested capital for at least 5 years. Study how the stock market works and youll know :)
I just started w/ AXA on June 19. I was advised that 65% of the funds that I deposit is allocated to investment and 35% goes to insurance. When I logged in to the online service of AXA, there were three charges which are premium charge, admin charge, and COI(cost of insurance). My regular premium is Php2005.21 and the charges are worth Php1,001.91 already. I think I need to clarify this w/ my advisor. Any thoughts on this?
I am a policy holder of Axelerator as well and paying Php5,000.04 every month. My policy will be ending this June 2017. Actually, i don't know what will happen after completing my 5 years. I actually don't see the total of my account. Can anyone tell me how?
Hi Im a new member of AXA joined effective date May 28, 2017 I invested my money of 500,000 in cold cash at AXA under ambition X and in expand of 3 days I already lost 30,000 do you think I can still continue it.
wag kalilimutan na sa axelerator e yung 30% ng hinuhulog mo for the first 3 years e napupunta sa bayad mo sa life insurance, 70% sa investment, after 3 years 100% na mapupunta sa investment, kaya talagang pag chineck mo on your first 3-5 years e magmumukhang lugi ka dahil ang makikita mong value is below nung linabas mo na pera. Pero ang totoo hindi dahil binayaran mo yung life insurance in your first 3 years. on your 6-8 zeras ( assuimng na ok yung market) dun mo makikita na unti unti nang tataas ung value ng account mo, pag pumantay na sa linabas mong pera hindi yun actually break even dahil nabawi mo na yung pera mo plus may insurance ka pa. eto ang hindi nakikita ng mga iba na nafrufrustrate on their 1st year till 3rd year. Ang investment hindi madalian, kung hindi mo kayang magantay at mainipan ka , wag ka kumuha ng investment. ganun lang ka simple
Ang dapat kasi kumuha ng LONG TERM INVESTMENTS ay yung KAYANG mag monthly long term. Kung P2,500 monthly mo sa AXA, dapat yung ipang babayad mo dun eh yung pera na di mo gagamitin sa araw araw. Kung umpisa palang ang mind set mo eh "makukuha ko kaya pera ko dito in 2 years o 3 years" or "pano kung di na ako makabayad mababawi ko ba yung naihulog ko", ang masusuggest ko sa inyo ay mag SAVINGS ACCOUNT nalang kayo sa bangko. Ideposit mo ngayon kahit bukas mo pa yan iwidraw ok lang, ikaw ang bahala. Marami ako nabasa na sa 4th month tinigil na nya yung plan kasi luge daw, yung iba 3 years or 4 years pa ata. Pag ititigil nyo sya o susukuan nyo investment nyo kasi nakita nyo laman ng account nyo ay mas mababa sa naihulog nyo sigurado lugi kayo. Share ko lang, may nakausap ako na taga cavite, meron syang plan 2,500 ata monthly nya, sa AXA to ha, 2004 sya nag start, nung 2014 ang naging laman ng account nya ay 500k+. Bale ang ginawa nya winidraw nya nasa 250k tapos nag iwan sya para umikot pa yung investment. Ayon sa kanya nagbreak even yung nadeposit nya VS laman ng account nya nung 6-7th year ng policy nya.
Ang problema kasi sa AXA, mga sinungaling yung agents. Papangakuan ka na mababawi mo ang investments mo after 5 years. After 5 years, pag siningil mo na ang investments at iba na ang mga naka-assign na AXA agents sa metrobank branch, sasabihin lang sayo na "Ano ba ang sinabi sayo ng agents mo?" Mistulang mga Pontio Pilato kung makapanghugas kamay. Ganyang din ang mga naging experience ng mga kasamahan ko sa work na kumuha rin pala ng insurance sa AXA sa ibang branches ng Metrobank. Parang napakaorganize nila sa pagsisinungaling sa mga clients.
I don't want to sound too rude by calling the one who posted comment number 54 a liar but her story about a lot of policy holders who are satisfied with their earnings after five years is unconvincing. I've been a policy holder of AXA Axelerator for 5 years and 5 months. My total contribution is 162,500 pesos. When I checked the account value of my policy online through My AXA Application, it's only 116,340 pesos and it keeps going down. I can see my hard earned money depleted day by day. That doesn't sound satisfactory at all. With that, I have no plans of keeping my policy beyond 6 years.
My advice to AXA agents reading this review and it's comments. First, BE HONEST to your clients. Tell them from day one that they could potentially lose their money. Second, determine their risk personality by making sure they are aggressive type of investors. Don't bother to convince the conservative like me with sweet talks that can raise the dead from the grave in the name of fat commissions. All of your false promises will go back to your company as you can see in the negative reviews and comments about AXA. Finally, before posting recycled lies about AXA policy holders enjoying the returns of their investments after five years, make sure that the likes of me who have been an AXA policy holder for more than 5 years don't exist.
dont forget na dun sa binitawan mong 162500 e may hulog ka sa insurance (about 30%) at the remianing sa stocks, so ang totoo hindi ka lugi. ang tinitignan mo lang kse account value pero di mo tinitignan yung insurance na nakakabit dun sa hinulog mo.
Hello, I happened to read this article because im searching for a certain axa benefit that is called loyalty bonus for the policyholders on the 10th and 20th year. I only have simple question for those with negative comments because i noticed that you only focus on investment side where you can only enjoy the your policies after the paying period not in just months or years of paying. I also notice that you regularly check your account values even when you only paid in just months in which you cannot really enjoy it since there is still no gains realized within the first 5 years depending on the product that you avail. Investment is far different from trading. if you want to check the gains/returns just after months of paying, you should try trading, metrobank offers it and axa doesn't offer that. Trading is a type of investment where you manage to play your money depending on the company that you want to buy shares with. It applies only for short term period because you can withdraw anytime without charges. Others could have a broker to start trading. Investment is not short term, it is designed for long term horizons wherein you can benefit the most and realized the gains/returns of the policy after the contract. Since axa is an insurance company, you also pay for your protection.
Now my question is, didn't your Financial Executive in the Metrobank discussed the premium charges and cost of insurance charges of your policy??Because we are trained to be transparent in all the advantages and disadvantages in our products that we are offering. If your policy is axelerator, there is a 35% premium charges on the first 3 years of your payment. If it is a Lifebasix policy, the premium charges is 35% for the first 5 years. Your whole monthly payment doesnt go directly through the investments, just 65% of it for the first 3 years visavis. That is why AXA Phils has a surrender/withdrawal charges for the first 5 years to prevent clients from withdrawing the account value.
You are not at loss, just take the advise of the agent you talked to. The products you availed is really advantageous on your part, why? Because of the insurance/protection that has it in it. You still are in a win-win situation because, if something happens to the owner of the blog, which she owns a lifebasix policy, i think her minimum death benefit 400k pesos. So for example, she only paid 4 months, with a total of 6k+ pesos, then something happened to her, she died naturally, the four months that she paid is forfeited, but, her beneficiaries will be receiving 400,000 pesos as part of the contract that she signed. But if the blogger of this article lives for 10 years or more, and she paid for her policy in 10 years without any lapses, then she can already enjoy her investment, she can control already if she can withdraw her account value or just the returns that earned from her investment. She may opt to just stay her investment for how many years she may want because as long as her investment is with axa, then it still maximizes the earnings of the investment through compounding interest.
For the person who commented if we can show you facts that supports the others opinions? I'm sorry but we still follow the bank secrecy code. All the transactions made with axa and mertrobank are strictly confidential because it still involves money. But I tell you, being with axa for 5 years, there is really a lot of policy holders who are really satisfied with their earnings on the condition that they fully settle the paying period of their investment policy. Oh and i happened to update my client here earlier, she is a grandmother, a policyholder of axa for eight years and counting. So to give you an example without a name, she has a honeyfive pay investment product an upgraded version of axelerator, 5 years to pay with premium charges too. She applied for it last January 2008 with a monthly premium of 3,333.33 for 5 years, a total of 200,000 pesos. Her funds were split into Balanced Fund(60%) and Wealth Equity Fund(40%). So for 8 years and 7 months, her account value as of today is 347,653.73 pesos in just 3 years of not withdrawing the fund after she finished paying the premiums, she already has a return of 147,653.73 pesos. It doesnt mean that your 200k will earn this too, it still depends on the performance of the market but we assure you that it will maximize the earning potential of your money unlike parking it in just a regular savings account or even time deposits.
Please read thoroughly the policy contract because all of the benefits and charges are indicated and listed.
I am a Financial Solutions Officer in AXA Philippines. If you have concerns, just ask me.
