AXA Mansard Insurance Plc, a member of the AXA Group has introduced a new Cash-Back Term Life product as part of its quest to improve the ease of adoption of term life insurance and hence boost insurance penetration in Nigeria.
With cash-back term life, as against the traditional term life plan, AXA Mansard’s customers will get a refund of 50 percent of premium paid if they don’t make any claim till at the expiration of the policy. This benefit comes in addition to the life insurance cover,the product also gives customers the option to choose additional benefits like Permanent Disability and Extended Life Cover at a token fee.
Speaking on the newly introduced plan, Mr Kola Oni, Chief Strategy & Marketing Officer at AXA Mansard Insurance plc said, “We are pleased to announce the Cash-Back Term Life product to our customers with the assurances of superior service delivery. With this plan, we aim to meet the evolving needs of our customers and their yearnings for benefits they can enjoy while they are still alive.’’
According to Oni “AXA is renowned to be at the forefront of innovative products and the company has continued to make a difference in the lives of her customers through various offerings”, he added.