It features traditional protection products such as life insurance, critical-illness cover, accident and sickness and income protection and will also offer household buildings and contents insurance.
Around 60-70 per cent of protection products sold are related to a mortgage.
Head of protection Ian Mallon says Axa’s financial strength of the company means it can offer a choice of guaranteed or reviewable rates on critical illness, income protection and life products.
The protection account has been designed with a point-of-sale system that allows adv-isers to alter the variables in a quote and create up to five different quotes simultaneously. Applications are available by paper, phone or online, with a CD-Rom facility to be added later this year.
The products will initially be offered through distribution partners Bankhall, Millfield, Tenet and Lifesearch and from January 2005 through Britannia Building Society. The phased launch means that the products will not be available to the whole of market until the end of 2005.
Bankhall joint chief executive Simon Taylor says: “Axa’s new proposition delivers an excellent product solution to consumers through breadth of products available.”