COI Update 12/14/2015: Policy Owners Begin Receiving AXA Notification Letters For COI Cost Increase Deferral On Athena II Policies
As we reported last week, AXA has decided to postpone the increase in monthly COI charges on specific Athena II policies. Originally, the increase was set to begin January 1, 2016. AXA notified policy owners that they “decided to defer the effective date for this change to March 8, 2016.”
This deferral does not change the impact on the policies going forward, just postpones it. For a full analysis of the cost increase see our blog entry,Taking a Look Under the Hood of the AXA Athena II Universal Life Cost of InsuranceÂ Increase.
December 9, 2015
ITM TwentyFirst has been informed by AXA that the Athena II COI increases that were written about in our Blog dated November 16th that were originally scheduled for January 1, 2016 have now been pushed back until March 2016.
Frank Tomasello in our New York office spoke with representatives of the carrier who confirmed that the postponement of the increase will affect all of the policies originally set to increase.
ITM TwentyFirst is monitoring the situation and will provide updates as information is released.