AXA Brings Positivity and Peace of Mind to Retirees with New JoyAhead Immediate Annuity Plan

Immediate access to lifelong guaranteed monthly income

Doubled monthly payout for extra support in case of Severe Dementias

HONG KONG, June 27, 2023 /PRNewswire/ — AXA Hong Kong and Macau (AXA) today announced the launch of its first immediate annuity product JoyAhead Immediate Annuity Plan (“JoyAhead”). Tailor-made for Hong Kong pre-retirees and retirees, the new plan provides immediate and lifelong monthly guaranteed annuity payment, and a terminal dividend to boost potential returns, as well as a special dementia companion benefit which doubles the monthly payout for up to 10 years to provide extra support in the event that the insured is first diagnosed with severe dementias before age 80[1].

People around the world are ageing rapidly and Hong Kong is no exception to this trend. According to the Census and Statistics Department’s population projection, the percentage of the population of age 65 and above will gradually increase from 20.8% in mid-2022 to 25.3% in 2028. With the increasing ageing population and longevity, the age-related dementia is inevitably becoming one of the most worrying illnesses among the silver-haired group. Currently, one in ten people aged 70 or above in Hong Kong suffers from dementia, with the rate increasing to one in three among those aged 85 or above. It is estimated that there will be about 300,000 dementia patients in Hong Kong by 2039[2].

Drawing on its deep knowledge of the Hong Kong market, AXA created JoyAhead to address local customers’ most-pressing concerns. This year’s AXA Immediate Annuity Survey* revealed that 61% of Hong Kong residents aged between 50 and 85 are worried about assets depletion due to longevity. Moreover, only 37% of respondents are confident that their current retirement savings will cover future retirement expenses, and one in five have not yet prepared for an unexpected emergency.

Janet Lee, Chief Life and Health Insurance Officer of AXA Hong Kong and Macau, said, “Longevity is a blessing if we make wise lifestyle and financial decisions to ensure a joy-filled retirement for ourselves and our loved ones. At AXA, with our deep bonding with the community, we are delighted to bring JoyAhead to the pre-retirees and retirees in the city to fulfil their financial and protection needs, giving them positivity and peace of mind as they start a new chapter in life.  Looking forward, we will continue to develop and provide more diverse and protective products for the silver-haired, living up to our commitment in being our customers’ lifetime companion.”

JoyAhead meets the silver-hair community’s identified needs by providing a dependable source of annuity income for the lifetime of the insured alongside enhanced protection for difficult times and special features to bring customers greater flexibility and peace of mind:

  • A comprehensive immediate annuity plan with inclusive entry age from 50 to 85: JoyAhead‘s entry age is as low as 50, which is able to cater the needs of pre-retirees and younger retirees. JoyAhead provides additional flexibility to customers with easy underwriting – if the total single premiums for JoyAhead policies are less than or equal to HKD3 million, no medical underwriting is required[3].
  • Guaranteed and lifelong monthly annuity for worry-free retirement: Customers make a single premium payment  and then enjoy a monthly guaranteed annuity payment, starting on the first policy monthiversary and throughout their lives. The cash value of the policy is guaranteed and payable by JoyAhead when the policy is surrendered.
  • Terminal dividend to boost potential returns: From the end of the 3rd policy year, customers may receive a terminal dividend as a lump sum when the policy is surrendered or upon death of the insured[4]. A terminal dividend lock-in option enables customers to transfer a portion of the latest terminal dividend to their accumulation account, which can be accessed to provide extra cashflow from the eleventh policy year.
  • Doubled monthly payout when first diagnosed with severe dementias: Dementia is one of the most common neurodegenerative disorders among the elderly. If the insured is first diagnosed with severe dementias before age 80, JoyAhead will pay a monthly Dementia Companion Benefit starting from the next policy monthiversary after the date of first diagnosis for up to 10 years, the amount of which is equivalent to 100% of the monthly guaranteed annuity payment to help alleviate the financial stress of the disease on the insured and their caregivers[5].
  • Enhanced life protection with up to 120% death benefit: JoyAhead also offers life protection, which can be equivalent to 120% of total premium paid[6], to provide financial support to loved ones if the insured passes away. Flexible settlement options allow customers to choose how death benefits will be paid to best support beneficiaries.

For more information about JoyAhead, please visit:

The above information is for reference only, terms and conditions apply. For more details on product features, content, terms and exclusions, please refer to the product brochure and policy provision.

* About the AXA Immediate Annuity Survey

Commissioned by AXA Hong Kong and conducted by YouGov in Hong Kong in April 2023, with a total of 505 respondents aged 50-85.

(From right to left): Howard Pou, Chief Distribution Officer of AXA Greater China, Janet Lee, Chief Life and Health Insurance Officer of AXA Hong Kong and Macau, and Moses Chan, one of the most favourite actors in Hong Kong, team up to launch JoyAhead Immediate Annuity Plan.
(From right to left): Howard Pou, Chief Distribution Officer of AXA Greater China, Janet Lee, Chief Life and Health Insurance Officer of AXA Hong Kong and Macau, and Moses Chan, one of the most favourite actors in Hong Kong, team up to launch JoyAhead Immediate Annuity Plan.

Moses Chan plans for a joy-filled future in AXA’s latest TV commercial, highlighting the peace of mind that comes with a guaranteed monthly income for life.
Moses Chan plans for a joy-filled future in AXA’s latest TV commercial, highlighting the peace of mind that comes with a guaranteed monthly income for life.


[1] “Age 80” refers to  the policy anniversary on or immediately following the insured’s 80th birthday (whichever is earlier)

[2] Source: Hong Kong Alzheimer’s Disease Association

[3] Any application for JoyAhead is subject to approval of the Company

[4] The terminal dividend is not guaranteed and to be determined by the Company from time to time at our sole discretion

[5] This benefit can be claimed once only

[6] Extra 20% of the total premiums paid is not applicable if the insured’s death happens (a)when the insured’s age is above 80; or (b) during the first 3 policy years and it is not accidental death

About AXA Hong Kong and Macau 

AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 51 markets and serving 93 million customers worldwide. Our purpose is to act for human progress by protecting what matters.

As one of the most diversified insurers in Hong Kong, we offer integrated solutions across Life, Health and General Insurance. We are the largest General Insurance provider and a major Health and Employee Benefits provider. Our aim is to not only be the insurer to provide comprehensive protection to our customers, but also a holistic partner to the individuals, businesses and community we serve.  At the core of our service commitment is continuous product & service innovation and customer experience enrichment, which is achieved through actively listening to our customers’ needs and leveraging and investing in technology and digital transformation.

We embrace our responsibility to be a driving force against climate change and a force for good to create shared value for our community. We are proud to be the first to address the importance of mental health through different products and services and thought leading iconic research. Our overall Sustainability Strategy, with emphasis on climate strategy and biodiversity commitment, is developed based on TCFD recommendations. We are committed to integrating environmental, social and governance factors across our business and strive to contribute to a sustainable future through 3 distinct roles – as an investor, insurer and an exemplary company. 


Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause AXA’s actual results to differ materially from those expressed or implied in the forward-looking statements. Please refer to Part 4 – “Risk factors and risk management” of AXA’s Universal Registration Document for the year ended December 31, 2019, for a description of certain important factors, risks and uncertainties that may affect AXA’s business, and/or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as part of applicable regulatory or legal obligations. 

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