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AXA Life Insurance Review 2019

Jan. 2, 2019
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at a glance

  • NerdWallet ranking: No. 11 life insurance company.
  • Full menu of term and permanent policies.
  • About average customer satisfaction scores.

Overview

AXA Financial Services is part of the France-based AXA Group and is one of the largest life and retirement savings companies in the U.S. It has two life insurance subsidiaries, AXA Life Insurance Co. and MONY Life Insurance Co. of America.

» MORE: The best life insurance companies

Find out more about each element that goes into our review of AXA Life Insurance by clicking below.

NerdWallet rank: 11th

AXA ranked No. 11 out of the 20 best life insurance companies as scored by NerdWallet. The rankings take into account companies’ A.M. Best financial strength ratings, consumer complaints to state regulators and J.D. Power’s customer satisfaction scores. NerdWallet scores the largest national life insurance companies that sell individual policies.

A.M. Best financial strength rating: A (excellent)

AXA’s financial strength is “excellent,” according to ratings agency A.M. Best.

Financial strength is important because it indicates how well an insurer can pay claims. It’s especially important when choosing a life insurance company because claims might not be made until decades after a policy is purchased.

Consumer complaints: Better than the median

AXA drew fewer than the median number of complaints to state regulators in 2017 for a company of its size, according to the latest data from the National Association of Insurance Commissioners.

The association assigns a complaint ratio score to insurance companies, based on the number of complaints to state insurance commissioners, adjusted for market share. The median score is 1, and a score less than 1 means fewer complaints. The average score for AXA’s life insurance subsidiaries in 2017 was 0.11. The average is weighed by market share.

J.D. Power ratings: Below average

AXA scored among “the rest” of companies, the lowest possible rating, for overall customer satisfaction in the 2018 J.D. Power U.S. Life Insurance Study. The insurer ranked No. 16 overall out of 23 companies included in the survey.

Customer satisfaction category AXA's score
Overall satisfaction"The rest"
Billing and payment"About average"
Price"The rest"
Policy offerings"About average"
Interaction"The rest"

More about axa

Types of life insurance soldOther products & services
  • Term life.
  • Whole life.
  • Universal life.
  • Variable universal life.
  • Survivorship life insurance.
  • Annuities.
  • Brokerage and advisory accounts.
  • Individual retirement accounts.
  • Insurance for small-business owners and their employees.
  • Mutual funds.
  • Workplace benefit plans.
  • Life insurance options

    Term life insurance: AXA offers terms of 1, 10, 15 and 20 years with two pricing options. With the level-premium option, the annual price stays the same every year of the term. With annual renewable term life, the policy can be renewed without reapplying for coverage, but the price increases each year. Prices for annual renewable term life may be lower in the early years and higher in later years than the prices for level-premium term life. AXA also offers a one-year non-renewable term life policy. All of the company’s term life policies are convertible to permanent life insurance.

    Permanent life insurance: AXA offers whole life insurance, two types of universal life insurance and two types of variable universal life insurance. In addition, the company two survivorship life insurance options. A survivorship policy insures two people, usually a married couple, on one policy. The death benefit is paid out when the second person dies.