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Symponia reviews LTC for Axa

Symponia reviews LTC for Axa Symponia is working with Axa to carry out reviews of its pre-funded policyholders. Lifetime Care, the longterm care business of Axa, sold around 9,000 pre-funded policies during the 1990s through its direct salesforce which was disbanded in 1998. The policies were taken out by people worried about possible future care costs and the plans were designed to pay out a monthly benefit when the policyholder was unable to perform certain tasks.

Claims by policyholders have been higher and over a longer period than anticipated and the reviews have been put in place to tackle this. IFACare originally carried out these reviews but Symponia has stepped in to take its place.

Axa, Bupa, Norwich Union and Prudential have all left the pre-funded market but Axa still provides immediate needs products.

Symponia joint founder and managing director Jeremy Davies says: We acknowledge the need for policyholders to review their prefunded plans regularly as both circumstances and costs can change significantly.

“All Symponia members are highly qualified and will be able to steer people towards the right bespoke solution for them.”

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