Axa Life Invest adds death benefit drawdown option

Protect75 allows members of the SecureAdvantage+ Pension Plan to protect death benefits and comes as a direct response to pensions freedom. The firm said before its launch a policyholder would have needed to take out an income guarantee on their drawdown plan to obtain such a death benefit. Axa Life Invest explained if the value of the plan holder's income drawdown at the time of their death is worth less than the amount they originally invested, Protect75 pays out a lump sum, minus any withdrawals they have taken. It costs 0.15% of the plan value per year and no underwriting or me...