AXA and OneAmerica Financial Partners are both ramping up efforts to increase sales of long-term care benefits products connected with life insurance policies and annuity contracts.
(Related: The End of Long-Term Care Insurance as We Know It?)
The New York-based U.S. unit of AXA is aiming its move at the executive benefits market.
AXA announced it will be making an existing long-term care benefits rider, the Long-Term Care Services Rider feature, available with its executive life insurance guaranteed-issue program.
The guaranteed-issue program gives key executives at an employer, and the relatives of those key executives, the ability to buy life insurance from AXA life subsidiaries without going through a medical underwriting process.
Adding the long-term care rider feature to the life program will give an employer a way to offer those executives access to long-term care benefits.