Font size
WorksheetsProduct Mastery
Total questions: 50
Worksheet time: 17mins
AXA deducts an Administration charge of ___ pesos every month from your investment units
Ph 2500
Ph 2000
Ph 1000
Ph 100
The cost of insurance charge depends on the Net Amount at Risk.
TRUE
FALSE
What is NAR?
NAR = Account Value- Sum Insured
MDB= 500% of AP +125% TU - 125% WD
NAR= Sum Insured - Account Value
Full Withdrawal Value is equal to
No. of units X Offer price
No. of units X Bid price
The peso value of your policy’s remaining investment units is called the account value.
TRUE
FALSE
Which of the statements is correct?
The lower the account value, the lesser the cost of insurance.
The higher the account value, the lesser the cost of insurance.
Cost of Insurance is zero if the account value is equal to , or higher than the SI.
YES
NO
You can withdraw from your account value on the 3rd year policy onwards.
YES
YES, but you should not
NO
There is an AXA product called MLC Cricon20 Sec
TRUE
FALSE
There is an AXA product called MLC with Critical Conditions20
TRUE
FALSE
MLC Cricon is composed of
MLC and Critical Conditions Rider
MLC and Critical Conditions Rider 20 pay
MLC Cricon 20 is composed of
My Life Choice
Critical Condition Rider
MLC and Critical Condition rider 20 pay
Client buys MLC Cricon20, client is covered from the 56 CI even on the first year of payment
TRUE
FALSE
Minor Critical Illness is included in the Critical Conditions Rider
TRUE
FALSE
Minimum Death Benefit is the minimum guaranteed payout if insured dies
TRUE
FALSE
What is the Emergency Medical Fund in the MLC Cricon20 Sec
Sum Insured
Account Value
Premium Payments
Minimum Death Benefit
MLC COI is more expensive than BASIX COI
YES
NO
Critical Condition 20Pay has a __ premium
Decreasing term
Level Pay
Single Pay
Regular Pay
MLC Cricon20 Sec cannot be sold if client is more than 45 years old
TRUE
FALSE
Variable Plans has a cooling off period of how many days?
15 days from premium payment
15 days from policy issuance
15 days from policy delivery
Main base plan of AcademiX is
RetireSmart
Bright Rider Plus
aXelerator
Educational Fund
Target Funds available for Retire Smart includes
2025 2030 2035 2040
2025 2035 2045 2055
2030 2035 2040 2045
Philippine Wealth Equity Fund
Modal premium factors are only applicable for Traditional Plans
TRUE
FALSE
Substandard cases has no Index linked Increase Endorsement (IIE)
TRUE
FALSE
You can personalize MLC according to your:
Priorities
Protection Coverage
Investment Fund
Financial Capacity
What are the 3 new features of My Life Choice?
Special Investment Bonus
Customizable Sum Insured
Premium Payment terms
Start Up Bonus
How many variants does My Life Choice have?
2
3
4
8
What are the packaged riders for MLC Health?
Bright Rider Plus
Critical Condition Rider
Health Max Plus
Cricon
What are the packaged riders for MLC Education?
Bright Rider Plus
Critical Condition Rider
Health Max Plus
Cricon
What are the packaged riders for MLC Protect?
Secure
Protector
Care
None
What are the packaged riders for MLC Goal?
WP
Secure
Care
None
A __% of the annual premium is considered as MyLifeChoice bonus on the start of the year.
35%
60%
70%
75%
MyLifeChoice may be paid in how many years?
5/10/20 pay
5/7/10 pay
7/10/Regular Pay
10/20/Regular Pay
Minimum Sum Insured for 7 pay MLC is
200K
210K
300K
240K
Minimum Sum Insured for 10 pay MLC is
200K
210K
300K
240K
Minimum Sum Insured for Regular pay MLC is
200K
210K
300K
240K
Whatis the minimum lump sum top up for MLC?
1,000
2,5000
5,000
10,000
What is the minimum regular top up for MLC?
1,000
2,5000
5,000
10,000
You are not eligible for a start up bonus if Premium holiday is opted within the vesting years
TRUE
FALSE
What is the maximum FYC for My Life Choice?
35%
40%
45%
50%
AXA guarantees it will not charge additional premiums due to individual claims.
Yes it's in the contract.
Yes But it's not in the contract.
AXA guarantees it will not charge additional premiums due to individual claims.
YES
NO
Goldlite. All medical expenses 90 Days before and after Hospital Confinement will be covered.
YES
YES, even if not related to confinement.
The 180 days limit outside the country is just a criteria to establish primary residency.
YES
NO
Client overstayed outside the country for more than 180 days and got hospitalized in Japan.
Covered by GHA
Not covered by GHA
Client overstayed outside the country for more than 180 days and got hospitalized in Japan.
Covered by GHA
Not covered by GHA
GHA claims should be filed within 30 days.
YES
NO
The 180 days limit outside the country for GHA should be straight and not cumulative.
YES straight 180 days
NO. Cumulative days
What are the surrender charges for My Life Choice?
100% 100% 25% 10% 5%
100% 100% 50% 30% 10% 5% to 10yrs
35% 35% 15% 10% 5%
10% 10% 5% 3% 2% to 10 years
What are 3 Dollar funds available for MyLifeChoice?
Equity, Balanced, Growth,
AmbitionX, 3GX 2026, Asset Master
GDAF Growth, GDAF Stable, GDAF Multi Asset
High Dividend fund, Equity Fund, Equity Index Fund
