AXA upgrades group insurance offer
AXA Australia has announced a new group insurance offer aimed at providing greater flexibility to meet the changing demands of today’s workforce and extend coverage.
AXA head of group insurance Robert Bergin said there will be several product upgrades to the group offer, including the extension of cover for unpaid leave, other than maternity and paternity leave.
“An increasing number of employees are opting to take extended periods of leave to explore other opportunities before resuming their careers. Previously only members taking paternity or maternity leave were able to access cover for up to 12 months during the leave period,” Bergin said.
AXA said it has removed the $1 million cap on terminal illness benefit payments. In the unfortunate event a member is diagnosed as suffering from an illness that will result in death within 12 months, AXA will pay the full benefit.
Other new product related initiatives include extended cover for overseas work-related travel, increased maximum entry age for continuation options and easing restrictions on accessing extended cover after leaving employment.
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