And now, life insurance for millennials they can buy online

MANILA, Philippines — AXA Philippines, one of the leading life insurance companies in the country, has just made it easier for its discerning customers to avail of an affordable investment and life insurance plan with the launch of a new insurance product available online.

A first in the industry, the product, named “MyAmbition,” is designed with today’s young entrepreneurs and professionals and their busy lifestyles in mind.

“Digital is now a way of life,” says AXA Philippines president and CEO Rahul Hora. “Many transactions today happen in the digital realm. Digital is not a new concept for us. This is all about AXA strengthening its capability on the digital platform. Through our initiative, through how we make our products available to our customers, we try to reach out to every Filipino possible.”

Hora says this is not a replacement for face-to-face selling but rather, its complement. “We are giving the choice to the customer,” he says. “If they prefer to talk to somebody and have face-to-face interaction, they can choose to do so through our network of advisers and sales people. But there’s a group of customers who just love to make purchases online. They like to study the product online, and make their judgment and decision on their own.”

The product is quite simple, straightforward, less complex and easy to understand.  Just visit www.axa.com.ph and click on “MyAmbition.” You can assess your investment profile, pick an investment portfolio, and pay for the policy with your credit or debit card. Other online payment options are also available.  The one-time investment starts at P50,000, and you can invest up to a maximum of P125,000.

“MyAmbition gives you a range of options to suit your risk profile and financial goals. There’s an investment fund for conservative investors, a balanced fund for those who have a moderate appetite for risk, and an aggressive growth fund for those who want to maximize the potential of their investments,” Hora explains. “The funds are professionally managed by the AXA group to give you security and peace of mind.” 

You can also download MyAXA, their mobile app that allows you to access policy information anytime, anywhere. On top of the benefits and convenience, MyAmbition gives life insurance coverage of 125 percent of the single premium or the account value, whichever is higher. Should you choose to keep your funds longer, you can receive a loyalty bonus of five percent of the average account value to be paid on the 10th and 20th year.

“The customers today are different from years back,” says Amor Balagtas, AXA Philippines chief customer officer. “Technology has made access to information easier.  Customers are much more informed. They are engaged with social media and other platforms.”

At the launch, which was held recently at the high-tech events venue The Eye at Green Sun Hotel in Makati City, Gian Javelona, founder of OrangeApps, and Reese Fernandez of Rags2Riches shared their personal experience as social entrepreneurs and advice with the largely millennial audience.  “Don’t underestimate the little things,” Reese said. “They go a long way. And don’t wait until it’s too late.” Gian agreed. “The sooner you start, the faster you learn.”

Balagtas says AXA understands the needs of today’s professionals. “MyAmbition takes their lifestyle needs into consideration. MyAmbition’s combined offering of affordability, convenience, and flexibility will definitely help young and mature Filipino professionals achieve their financial goals and fulfill their ambitions.”

Hora shared the vision of the organization, which is “to empower people to live better lives.”