AXA Singapore has announced the launch of its new investment-linked plan (ILP), AXA Flexi Protector.

According to a statement from the insurer, the new product will give customers access to a diverse range of investment funds to grow their wealth, as well as the option to customise their plan and adjust it at any time, according to their protection needs. The plan has various rider options for enhanced protection and ownership can be transferred to a family member at major life milestones, ensuring continuity of the coverage and investment.

The plan provides coverage for death, total and permanent disability, and terminal illness, with premiums starting at SG$100 monthly. It also comes with an extra premium allocation of 102% of the regular premium starting from the fifth year onwards, and additional bonus units as high as 0.3% per annum of the account value, to help customers grow their investments.

“AXA Flexi Protector comes with low initial premiums because we want to enable people to take the important step of starting to address their protection and wealth accumulation needs early,” said Sean Goh, managing director, life, AXA Insurance. “We also understand that the protection needs and risk appetite of individuals evolve as they progress through the different stages in life, such as when one enters the workforce, buys a first home, becomes a parent or reaches retirement. That is why we have designed a solution that gives customers flexibility and control over their protection and wealth accumulation plans to meet their long-term financial goals.”