AXA Life Insurance Review 2020

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AT A GLANCE

  • Proinsurancereviews standing: No. 14 life Insurance Provider.
  • A complete menu of both term and permanent policies.
  • Below-average client satisfaction scores.

AXA Financial Services is a part of this France-based AXA Group and is currently among the most significant retirement and life savings firms in the U.S.. It supplies a vast variety of permanent and term life insurance policies.

AXA Life insurance

AXA Life ranks No. 14 on Proinsurancereviews listing of the greatest life insurance businesses. Proinsurancereviews assesses the nation's biggest life insurance companies based on customer complaints and financial strength, customer satisfaction.

Life insurance choices from AXA comprise:

Term life insurance policy . AXA offers provisions of 10, 1, 15 and 20 years. Together with the choice, the cost remains the year of the expression. With yearly renewable term life insurance coverage, the coverage can be revived without reapplying for policy, annually, but the cost increases. Prices for yearly renewable term life might be higher and reduced in the first years compared to costs for term life in later years. A one-year term life coverage that is non-renewable is also offered by AXA. Each the organization's term life policies are convertible to permanent life insurance.

Permanent life insurance policy . AXA offers two sorts of life insurance coverage life insurance coverage and two kinds of variable life insurance plan. Additionally, the business includes two life insurance choices. A survivorship policy insures two individuals a couple that is married, on a single coverage. If the person dies the death benefit is paid out.

AXA Life complaints and customer satisfaction

Over three decades, AXA has experienced fewer complaints to state authorities than anticipated for a firm of its size, based on Proinsurancereviews evaluation of information from the National Association of Insurance Commissioners.

AXA was rated below average for total client satisfaction in J.D. Power's 2019 U.S. Life Insurance Study. The business ranked No. 21 total from 24 life insurance firms assessed.

Customer satisfaction classAXA's score
Total satisfactionBelow typical
Billing and paymentBelow typical
CostBelow typical
Policy offeringsBelow typical
InteractionBelow typical
CommunicationAbout typical

If you want to see

More about AXA

Along with life insurance, AXA offers other financial Services and Products, including:

  • Annuities.
  • Brokerage and advisory accounts.
  • Financial planning.
  • Personal retirement accounts.
  • Insurance for small-business owners and their workers.
  • Mutual funds.
  • Workplace reward plans.

METHODOLOGY: LIFE INSURANCE RANKINGS

The way we came up with our positions: We began with a listing of the biggest life insurance companies and then calculated an entire score based on three dimensions, each with equal weight over the score. We then corrected scores to some 300-point scale:

  1. Client satisfaction scores out of J.D. Power, value around 100 points.
  2. Complaint index scores in the National Association of Insurance Commissioners for human life insurance, which quantify each organization's share of complaints to state authorities relative to its share of overall market premiums. We calculated every insurer's complaint index, weighted for its industry share of its subsidiaries, within a three-year interval (2016-2018). Those scores were corrected by us with 100 meaning that the number of 1 and complaints equaling the variety of complaints about businesses of comparable size, to some scale.
  3. Financial strength ratings from A.M. Finest, which signify an organization's capacity to cover future claims, value up to 100 points. Each one the firms showed have strong financial advantage using ratings of"excellent" to"superior."

Scores are based on the latest published information as of Jan. 1, 2020.

METHODOLOGY: INSURER COMPLAINTS

Proinsurancereviews analyzed complaints received by state insurance companies and reported on the National Association of Insurance Commissioners at 2016-2018. To evaluate insurance companies compare to another, the NAIC computes a criticism index measuring share of premiums from the business, or its share of complaints relative to its dimensions. To appraise the complaint history of a company, Proinsurancereviews calculated that a similar index for every insurance company, weighted by market shares of each subsidiary. Ratios are decided for home, automobile, and life insurance.

Go to AXA insurance website

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