Life Insurance -
AXA tests the demand for life insurance - 02/06/2008
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According to recent reports, insurance company AXA will aim to test out consumer demand for a guaranteed life insurance product by launching a pilot.
The life insurance policy will aim to build trust in the industry that insurance companies do actually honour claims when holders, call for them.
A non-contestability guarantee attached to the policy will be a pioneering move in UK insurance. AXA say that their product will guarantee payment on death after two years.
AXA are apparently planning to review the product following reactions from both consumers and advisers, before releasing it to the public.
A spokeswoman for AXA was reportedly to have said: "We're excited to be offering such a strong product because it is an extension of our existing claims philosophy to pay all valid claims."
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