AXA Philippines, a leader in life and general insurance, has launched Health Max Elite, a new critical illness plan offering coverage for over 150 medical conditions. The plan aims to provide enhanced financial security amid the rising cost of healthcare and increased health risks in the Philippines.
The launch took place on February 4 at HELM by Josh Boutwood, located on the 3rd floor of Ayala Triangle Gardens in Makati City. The event brought together AXA executives, financial experts, and members of the press to highlight the plan’s extensive benefits.
Health Max Elite is the first insurance product in the market to allow multiple claims, offering policyholders up to 400% of the insured amount across nine claimable events. These include major critical conditions like cancer, heart attack, and stroke, as well as ICU confinement and life-saving surgeries. It also provides early-stage coverage for benign tumors and suspected malignancies.
AXA Philippines Chief Marketing Officer Fernando V. Villar highlighted the plan’s unprecedented flexibility and scope during the launch event.
“Most critical illness insurance products allow you to claim only once. With Health Max Elite, you can claim up to nine times. Four of those claims could be for major critical illnesses,” Villar said.
Health Max Elite also provides support for mental health conditions, including depression, mild schizophrenia, and bipolar disorder. According to Antonio S. Castillo, Critical Illness & Health Product Category Head, this inclusion is a first in the local market.
“In this product, if your condition is not listed but you are in the ICU for five days or undergo a life-threatening surgery, you still get partial coverage,” Castillo explained.
Additionally, the plan offers pre-early stage protection, allowing policyholders to receive up to 10% of the sum insured upon diagnosis of early-stage conditions. This feature is designed to encourage early intervention and improve treatment outcomes.
Data from the Philippine Statistics Authority shows that ischemic heart disease accounted for nearly 19% of all deaths in the first half of 2023. The World Health Organization (WHO) has also emphasized the importance of preventative healthcare to reduce the risks of chronic diseases.
“Health Max Elite equips Filipinos to take charge of their health with confidence,” Villar said. “With AXA by your side, Know You Can face life’s uncertainties with ease.”
To make the product accessible to more Filipinos, AXA offers a 10% discount on annual premiums for families enrolling two or more members under the plan. The maximum coverage amount is PHP 10 million, making Health Max Elite one of the most extensive critical illness insurance plans currently available.
Premium income for AXA Philippines reached PHP 21.76 billion in 2023, with net profits totaling PHP 2.73 billion. The company continues to innovate its product offerings to cater to the evolving needs of Filipino families and individuals.
