Policy Illustration Document(s)

This Cover Page is an important document.
• It highlights the key features and risks of this product and should be read together with the Policy Illustration,
Product Summary and Bundled Product Disclosure Document, where applicable.
• It is important to read the Policy Illustration, Product Summary and Bundled Product Disclosure Document,
where applicable, before deciding whether to purchase this product. If you do not have a copy of these
documents, please contact us at 6880 4888 or your Financial Advisor Representative to ask for them.
• You should not purchase this product if you do not understand or are not comfortable with the risks of this
product.
AXA Retire Treasure (II)
Product Type Participating Endowment Plan

Premium Term 5 Years
Policy Term 86 Years
Name of Insurer AXA Insurance Pte Ltd
COVER PAGE FOR PARTICIPATING ENDOWMENT PLAN

Policy Currency Singapore Dollars
WHAT ARE YOU PURCHASING?
This is a participating endowment plan which offers you insurance coverage and also invests part of your premiums in
the insurer’s Participating Fund. It comprises guaranteed and non-guaranteed benefits and may not be suitable for you
if you want all benefits to be guaranteed.
WHAT ARE THE KEY RISKS OF A PARTICIPATING PLAN?
By purchasing a participating plan, your premiums will be pooled together and invested with premiums from other
policyholders in the Participating Fund managed by AXA Insurance Pte Ltd. As a policyholder, you will share in the risks
of the Participating Fund, including:
Investment Risks Lower than expected investment returns earned by the fund
Higher than expected claims made by policyholders (e.g. due to death, disability or other
Insurance Risks
terminations)
Expense Risks Higher than expected expenses incurred for managing the Participating Fund
These risks can affect the performance of the Participating Fund which in turn affects the bonuses or dividends paid to
you. Such bonuses or dividends are not guaranteed until declared.
ARE THE PARTICIPATING FUND’S ILLUSTRATED INVESTMENT RATES OF RETURN GUARANTEED?
The Policy Illustration shows two Illustrated Investment Rates of Return (after deducting investment expenses) of 4.75%
per annum (p.a.) and 3.25% p.a.
They are not guaranteed and do not represent the upper and lower limits on the investment performance of the
Participating Fund. They also do not represent the expected or actual returns of your participating plan.
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Adviser's Signature Proposer's Signature

Date: Date:
CONFIDENTIAL Date: 05/04/2019
Page 1 of 3 Release Version 11.0
WHAT RETURNS CAN YOU EXPECT FROM THIS POLICY BASED ON THE ILLUSTRATED INVESTMENT RATES OF
RETURN?
Based on the Illustrated Investment Rate of Return of 4.75% p.a., your total Illustrated Yield at maturity is 4.34% p.a.
Based on the Illustrated Investment Rate of Return of 3.25% p.a., your total Illustrated Yield at maturity is 3.21% p.a.
These returns are not guaranteed and do not represent the upper and lower limits of the returns you may receive.
Please note that the guaranteed maturity benefit of your policy may be less than the total premiums paid.
You can compare 4.34% and 3.21% Illustrated Yields at maturity with the returns of Singapore Savings Bonds and
Singapore Government Securities. You may refer to http://www.sgs.gov.sg/savingsbonds.aspx and http://
www.sgs.gov.sg/ for more information on the returns of Singapore Savings Bonds and Singapore Government
Securities. Please note that the Illustrated Yields at maturity have taken into account the cost of insurance and
expenses incurred.

HOW HAS THE PARTICIPATING FUND PERFORMED OVER THE LAST FEW YEARS?
The historical investment rates of return (after deducting investment expenses) of the Participating Fund are shown
below:
Averaged over Averaged over Averaged over

2015 2016 2017
the last 3 years the last 5 years the last 10 years
Investment
-2.11% 6.00% 11.75% 5.06% 4.12% 3.63%
Returns
Please note that historical performance may not be indicative of future performance.
Changes in the economic and investment environment may affect the investment performance of the Participating
Fund and the bonuses or dividends that you may receive.
HOW WILL EXPENSES INCURRED BY THE PARTICIPATING FUND AFFECT YOU?
The expenses incurred by the Participating Fund include investment, management, distribution, tax and other
expenses. The Total Expense Ratio is the proportion of total expenses incurred by the Participating Fund to the assets of
the Participating Fund. The level of expenses incurred may affect the bonuses or dividends you may receive.
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Date: Date:

WHAT IS THE TOTAL EXPENSE RATIO OF THE PARTICIPATING FUND OVER THE LAST FEW YEARS?
The historical expense ratios of the Participating Fund are shown below:
Averaged over Averaged over Averaged over

2015 2016 2017
the last 3 years the last 5 years the last 10 years
Total Expense
10.90% 14.28% 8.45% 11.24% 9.86% 6.03%
Ratio
Please note that historical expense ratios may not be indicative of future expense ratios.
HOW MUCH WILL YOU NEED TO PAY FOR ADVICE?
The total distribution cost of this product is the amount that you will pay for advice and for other distribution related
expenses. It includes cash payments in the form of commissions and benefits paid to the financial advisory firm and its

representative(s) who have provided you with financial advice. This is not an additional cost to you as it has been
included in the premiums payable for this plan.
The Total Distribution Cost for this plan is $19,417 as shown in the Policy Illustration. This makes up 9.70% of the total
premiums payable.
WHAT HAPPENS IF YOU SURRENDER YOUR POLICY EARLY?
As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high
costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid.
OTHER IMPORTANT INFORMATION
After purchasing a life insurance policy, the insurer will give you at least 14 days from the date you receive the policy
documents to be sure that you want to keep the policy. If the insurer posts or emails the policy to you, the 14 days will
start seven days from the date of posting or emailing.
During this time, if you choose to cancel the policy, the insurer will refund you the premiums you have paid, less any
medical fees and other expenses such as payments for medical check-ups and medical reports incurred by the insurer.
compareFIRST is an online portal that enables you to easily compare the premiums and features of life insurance
products available to the retail market in Singapore. compareFIRST empowers you to make informed decisions when
purchasing life insurance products. You can access the portal at www.comparefirst.sg before making a life insurance
purchase. You can also find out more about life insurance products at www.moneysense.gov.sg.
ADVISOR_SIGNATURE PROPOSER_SIGNATURE

Date: Date:
MAIN POLICY ILLUSTRATION
Adviser Name : NELLY TERUMI MASUDA HOLLAND Date : 05/04/2019

Adviser Company : AXA Insurance Pte Ltd
Adviser Tel :
Adviser HP : +6584305946
Adviser Email : nelly.holland@axaplanner.com.sg
Life Assured Details

Name : Beatriz Palmeira Torres Gender : Female
Age : 34 (as at 05/04/2019) Smoking Status : Non-Smoker
Date of Birth : 22/12/1984
Payment Mode : Annual

Policy Currency : Singapore Dollars
Your Plan
Plan Name Policy Term Payment Term Guaranteed Annual Premium
Annual Income
AXA Retire Treasure (II) 86 Years 5 Years 6,527.48 40,002.36
Total Premium ($) 40,002.36
Your Premium ($) Annual Semi-Annual Quarterly Monthly

Premium Premium Premium Premium
Total Premium 40,002.36 20,401.20 10,400.61 3,500.20
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Date: Date:
05FF120 1231600
AXA Insurance Pte Ltd (Co. Reg. No. 199903512M)
8 Shenton Way, #24-01, AXA Tower, Singapore 068811
AXA CUSTOMER CARE CENTRE: #01-21/22 TEL: 6880 4888 FAX: 6880 5501
www.axa.com.sg
Proposal on the life of : Beatriz Palmeira Torres Date : 05/04/2019

Gender : Female (Non-Smoker) Age : 34 (as at 05/04/2019)
Payment Term : 5 Years Re-deposit Option : No

Accumulation Period : 5 Year(s)
Income Payout Period : 76 Years
Annual Premium : $40,002.36

Payment Mode : Annual
Sum Assured* : $1,231,600
Guaranteed Annual Income : $6,527.48

Policy Currency : Singapore Dollars
Summary of Income Payout and Non-guaranteed Bonuses
Guaranteed Annual Income : Paid Out
The below assumes the Guaranteed Annual Income is payout at the Policy Anniversary immediately after the end of
Payment Term and Accumulation Period (if any).
Total Premiums Paid for AXA Retire Treasure (II) [A] : $200,011.80
Total Guaranteed Annual Income [B] : $496,088

Non-guaranteed Bonus at 4.75% p.a.1 [C] : $3,332,922
Total Projected Benefit Payout [D] = [B] + [C] : $3,829,010
Total Projected Payout Ratio [D] / [A] : 1914 %

Guaranteed Rate of Return to You : 2.28 %
Total Rate of Return to You at 4.75% p.a.1 : 4.34 %
1. This refers to the Illustrated Investment Rate of Return.

*
Sum Assured is a notional value used solely for the calculation of reversionary and terminal bonuses and it is not the
amount payable on the insured event.
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Date: Date:
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Gender : Female (Non-Smoker) Age : 34 (as at 05/04/2019)
INTRODUCTION
AXA Insurance Pte Ltd believes that it is important that you fully appreciate the benefits of your policy. You should also
understand how the cost of your insurance cover and the expenses of administration and sales affect the benefits that you
will receive.
The illustration that follows shows how the value of your policy progresses over time and the sum(s) that would be payable.
The methods used to derive the values shown follow guidelines established by the Life Insurance Association, Singapore, to
ensure that a fair and consistent approach is used in preparing this illustration.
Please note that your policy provides a combination of (1) guaranteed benefits and (2) non-guaranteed benefits in the form of
bonuses / cash dividends. The bonus rates / dividend scales used in this illustration are not guaranteed and may vary
according to the performance of the Participating Fund.
As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and
the surrender value, if any, that is payable to you may be zero or less than the total premiums paid.
If you need clarification please do not hesitate to ask your financial adviser.
This Policy is protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit
Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more
information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable,
please contact AXA Insurance Pte Ltd or visit the LIA or SDIC web-sites (www.lia.org.sg or www.sdic.org.sg).
IMPORTANT NOTES
1. This Policy Illustration is intended for illustrative purposes only. The terms and conditions are specified in the policy
contract.
2. The quotation is applicable to standard life.
3. Please note that the premium rate(s) for the following plan(s) is / are non-guaranteed. These rate(s) may be adjusted based
on future experience.
- PremiumEraser Total
- Premium Waiver (UN)
- Premium Wavier (CIUN)
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Date: Date:
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Gender : Female ( Non-Smoker) Age : 34 (as at 05/04/2019)
Guaranteed Annual Income Option : Paid Out
The following tables of values relate to the basic policy plan - AXA Retire Treasure (II).
DEATH BENEFIT
End of Total Guaranteed Illustrated at Illustrated at
Policy Premiums 3.25% Investment Return 4.75% Investment Return
Year/Age Paid To-Date Non-Guaranteed Total Non-Guaranteed Total
(S$) (S$) (S$) (S$) (S$) (S$)
1 / 35 40,002 40,402 6,774 47,176 12,316 52,718
2 / 36 80,004 80,804 13,585 94,389 24,755 105,559
3 / 37 120,007 121,207 20,434 141,641 37,319 158,526
4 / 38 160,009 161,609 27,320 188,929 50,008 211,617
5 / 39 200,011 202,011 34,244 236,255 62,824 264,835
6 / 40 200,011 202,011 41,206 243,217 75,768 277,779

7 / 41 200,011 202,011 48,207 250,218 88,842 290,853
8 / 42 200,011 202,011 55,246 257,257 102,046 304,057
9 / 43 200,011 202,011 62,324 264,335 115,382 317,393
10 / 44 200,011 202,011 69,441 271,452 128,852 330,863
11 / 45 200,011 195,484 76,597 272,081 142,457 337,941

12 / 46 200,011 188,956 83,792 272,748 156,198 345,154
13 / 47 200,011 182,429 91,027 273,456 170,076 352,505
14 / 48 200,011 175,902 98,302 274,204 184,093 359,995
15 / 49 200,011 169,374 105,617 274,991 198,250 367,624
16 / 50 200,011 162,847 112,972 275,819 318,823 481,670

17 / 51 200,011 156,319 120,367 276,686 340,485 496,804
18 / 52 200,011 149,792 127,803 277,595 362,364 512,156
19 / 53 200,011 143,264 135,280 278,544 384,462 527,726
20 / 54 200,011 136,737 142,798 279,535 406,780 543,517
21 / 55 200,011 130,209 150,357 280,566 429,322 559,531

22 / 56 200,011 123,682 157,958 281,640 452,089 575,771
23 / 57 200,011 117,154 165,601 282,755 475,084 592,238
24 / 58 200,011 110,627 173,286 283,913 498,309 608,936
25 / 59 200,011 104,099 181,013 285,112 521,766 625,865
26 / 60 200,011 97,572 188,783 286,355 727,276 824,848

27 / 61 200,011 91,044 196,595 287,639 759,180 850,224
28 / 62 200,011 84,517 204,450 288,967 791,404 875,921
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DEATH BENEFIT
(S$) (S$) (S$) (S$) (S$) (S$)
29 / 63 200,011 77,989 212,348 290,337 823,950 901,939
30 / 64 200,011 71,462 220,290 291,752 856,822 928,284
31 / 65 200,011 64,934 228,276 293,210 890,022 954,956

32 / 66 200,011 58,407 236,306 294,713 923,554 981,961
33 / 67 200,011 51,879 244,380 296,259 957,422 1,009,301
34 / 68 200,011 45,352 252,498 297,850 991,628 1,036,980
35 / 69 200,011 38,824 260,661 299,485 1,026,176 1,065,000
36 / 70 200,011 32,297 268,869 301,166 1,061,070 1,093,367

37 / 71 200,011 25,769 277,122 302,891 1,096,312 1,122,081
38 / 72 200,011 19,242 285,420 304,662 1,131,908 1,151,150
39 / 73 200,011 12,715 293,764 306,479 1,167,860 1,180,575
40 / 74 200,011 6,187 302,154 308,341 1,204,170 1,210,357
41 / 75 200,011 0 310,590 310,590 1,240,844 1,240,844

42 / 76 200,011 0 319,072 319,072 1,277,884 1,277,884
43 / 77 200,011 0 327,601 327,601 1,315,294 1,315,294
44 / 78 200,011 0 336,177 336,177 1,353,078 1,353,078
45 / 79 200,011 0 344,800 344,800 1,391,240 1,391,240
46 / 80 200,011 0 353,470 353,470 1,429,784 1,429,784

47 / 81 200,011 0 362,188 362,188 1,468,714 1,468,714
48 / 82 200,011 0 370,954 370,954 1,508,034 1,508,034
49 / 83 200,011 0 379,768 379,768 1,547,746 1,547,746
50 / 84 200,011 0 388,631 388,631 1,587,856 1,587,856
51 / 85 200,011 0 397,542 397,542 1,628,366 1,628,366

52 / 86 200,011 0 406,502 406,502 1,669,282 1,669,282
53 / 87 200,011 0 415,512 415,512 1,710,606 1,710,606
54 / 88 200,011 0 424,571 424,571 1,752,344 1,752,344
55 / 89 200,011 0 433,680 433,680 1,794,500 1,794,500
56 / 90 200,011 0 442,839 442,839 1,837,078 1,837,078

57 / 91 200,011 0 452,049 452,049 1,880,080 1,880,080
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DEATH BENEFIT
(S$) (S$) (S$) (S$) (S$) (S$)
58 / 92 200,011 0 461,309 461,309 1,923,512 1,923,512
59 / 93 200,011 0 470,620 470,620 1,967,380 1,967,380
60 / 94 200,011 0 479,982 479,982 2,011,686 2,011,686
61 / 95 200,011 0 489,396 489,396 2,056,434 2,056,434

62 / 96 200,011 0 498,862 498,862 2,101,630 2,101,630
63 / 97 200,011 0 508,380 508,380 2,147,278 2,147,278
64 / 98 200,011 0 517,950 517,950 2,193,382 2,193,382
65 / 99 200,011 0 527,573 527,573 2,239,948 2,239,948
66 / 100 200,011 0 537,249 537,249 2,286,980 2,286,980

67 / 101 200,011 0 546,978 546,978 2,334,482 2,334,482
68 / 102 200,011 0 556,760 556,760 2,382,458 2,382,458
69 / 103 200,011 0 566,596 566,596 2,430,914 2,430,914
70 / 104 200,011 0 576,486 576,486 2,479,856 2,479,856
71 / 105 200,011 0 586,431 586,431 2,529,286 2,529,286

72 / 106 200,011 0 596,430 596,430 2,579,210 2,579,210
73 / 107 200,011 0 606,484 606,484 2,629,634 2,629,634
74 / 108 200,011 0 616,594 616,594 2,680,562 2,680,562
75 / 109 200,011 0 626,759 626,759 2,732,000 2,732,000
76 / 110 200,011 0 636,980 636,980 2,783,952 2,783,952

77 / 111 200,011 0 647,257 647,257 2,836,424 2,836,424
78 / 112 200,011 0 657,591 657,591 2,889,420 2,889,420
79 / 113 200,011 0 667,982 667,982 2,942,946 2,942,946
80 / 114 200,011 0 678,430 678,430 2,997,008 2,997,008
81 / 115 200,011 0 688,935 688,935 3,051,610 3,051,610

82 / 116 200,011 0 699,498 699,498 3,106,758 3,106,758
83 / 117 200,011 0 710,119 710,119 3,162,458 3,162,458
84 / 118 200,011 0 720,799 720,799 3,218,714 3,218,714
85 / 119 200,011 0 731,537 731,537 3,275,534 3,275,534
86 / 120 200,011 0 742,334 742,334 3,332,922 3,332,922
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The total Guaranteed Annual Income payout till the end of policy term is $496,088.
SURRENDER VALUE
End of Total Guaranteed Guaranteed Illustrated at Illustrated at
Policy Premiums Annual 3.25% Investment Return 4.75% Investment Return
Year/Age Paid To-Date Income Non-Guaranteed Total Non-Guaranteed Total
(S$) (S$) (S$) (S$) (S$) (S$) (S$)
1 / 35 40,002 0 0 0 0 0 0
2 / 36 80,004 0 0 0 0 0 0
3 / 37 120,007 0 12,000 204 12,204 373 12,373
4 / 38 160,009 0 23,281 273 23,554 500 23,781
5 / 39 200,011 0 38,202 342 38,544 628 38,830
6 / 40 200,011 0 56,403 412 56,815 757 57,160

7 / 41 200,011 0 74,604 482 75,086 888 75,492
8 / 42 200,011 0 101,906 552 102,458 1,020 102,926
9 / 43 200,011 0 138,308 623 138,931 1,153 139,461
10 / 44 200,011 6,527 202,011 694 202,705 1,288 203,299
11 / 45 200,011 6,527 195,484 765 196,249 1,424 196,908

12 / 46 200,011 6,527 188,956 837 189,793 1,561 190,517
13 / 47 200,011 6,527 182,429 910 183,339 1,700 184,129
14 / 48 200,011 6,527 175,902 983 176,885 1,840 177,742
15 / 49 200,011 6,527 169,374 1,056 170,430 1,982 171,356
16 / 50 200,011 6,527 162,847 1,129 163,976 3,188 166,035

17 / 51 200,011 6,527 156,319 1,203 157,522 3,404 159,723
18 / 52 200,011 6,527 149,792 1,278 151,070 3,623 153,415
19 / 53 200,011 6,527 143,264 1,352 144,616 3,844 147,108
20 / 54 200,011 6,527 136,737 1,427 138,164 4,067 140,804
21 / 55 200,011 6,527 130,209 1,503 131,712 4,293 134,502

22 / 56 200,011 6,527 123,682 1,579 125,261 4,520 128,202
23 / 57 200,011 6,527 117,154 1,656 118,810 4,750 121,904
24 / 58 200,011 6,527 110,627 1,732 112,359 4,983 115,610
25 / 59 200,011 6,527 104,099 1,810 105,909 5,217 109,316
26 / 60 200,011 6,527 97,572 1,887 99,459 7,272 104,844
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SURRENDER VALUE
(S$) (S$) (S$) (S$) (S$) (S$) (S$)
27 / 61 200,011 6,527 91,044 1,965 93,009 7,591 98,635
28 / 62 200,011 6,527 84,517 2,044 86,561 7,914 92,431
29 / 63 200,011 6,527 77,989 2,123 80,112 8,239 86,228
30 / 64 200,011 6,527 71,462 2,202 73,664 8,568 80,030
31 / 65 200,011 6,527 64,934 2,282 67,216 8,900 73,834

32 / 66 200,011 6,527 58,407 2,363 60,770 9,235 67,642
33 / 67 200,011 6,527 51,879 2,443 54,322 9,574 61,453
34 / 68 200,011 6,527 45,352 2,524 47,876 9,916 55,268
35 / 69 200,011 6,527 38,824 2,606 41,430 10,261 49,085
36 / 70 200,011 6,527 32,297 2,688 34,985 10,610 42,907

37 / 71 200,011 6,527 25,769 2,771 28,540 10,963 36,732
38 / 72 200,011 6,527 19,242 2,854 22,096 11,319 30,561
39 / 73 200,011 6,527 12,715 2,937 15,652 11,678 24,393
40 / 74 200,011 6,527 6,187 3,021 9,208 12,041 18,228
41 / 75 200,011 6,527 0 3,105 3,105 12,408 12,408

42 / 76 200,011 6,527 0 3,190 3,190 12,778 12,778
43 / 77 200,011 6,527 0 3,276 3,276 13,152 13,152
44 / 78 200,011 6,527 0 3,361 3,361 13,530 13,530
45 / 79 200,011 6,527 0 3,448 3,448 13,912 13,912
46 / 80 200,011 6,527 0 3,534 3,534 14,297 14,297

47 / 81 200,011 6,527 0 3,621 3,621 14,687 14,687
48 / 82 200,011 6,527 0 3,709 3,709 15,080 15,080
49 / 83 200,011 6,527 0 3,797 3,797 15,477 15,477
50 / 84 200,011 6,527 0 3,886 3,886 15,878 15,878
51 / 85 200,011 6,527 0 3,975 3,975 16,283 16,283

52 / 86 200,011 6,527 0 4,065 4,065 16,692 16,692
53 / 87 200,011 6,527 0 4,155 4,155 17,106 17,106
54 / 88 200,011 6,527 0 4,245 4,245 17,523 17,523
55 / 89 200,011 6,527 0 4,336 4,336 17,945 17,945
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SURRENDER VALUE
(S$) (S$) (S$) (S$) (S$) (S$) (S$)
56 / 90 200,011 6,527 0 4,428 4,428 18,370 18,370
57 / 91 200,011 6,527 0 4,520 4,520 18,800 18,800
58 / 92 200,011 6,527 0 4,613 4,613 19,235 19,235
59 / 93 200,011 6,527 0 9,412 9,412 39,347 39,347
60 / 94 200,011 6,527 0 14,399 14,399 60,350 60,350
61 / 95 200,011 6,527 0 19,575 19,575 82,257 82,257

62 / 96 200,011 6,527 0 24,943 24,943 105,081 105,081
63 / 97 200,011 6,527 0 30,502 30,502 128,836 128,836
64 / 98 200,011 6,527 0 36,256 36,256 153,536 153,536
65 / 99 200,011 6,527 0 42,205 42,205 179,195 179,195
66 / 100 200,011 6,527 0 48,352 48,352 205,828 205,828

67 / 101 200,011 6,527 0 54,697 54,697 233,448 233,448
68 / 102 200,011 6,527 0 61,243 61,243 262,070 262,070
69 / 103 200,011 6,527 0 73,657 73,657 316,018 316,018
70 / 104 200,011 6,527 0 86,472 86,472 371,978 371,978
71 / 105 200,011 6,527 0 99,693 99,693 429,978 429,978

72 / 106 200,011 6,527 0 113,321 113,321 490,049 490,049
73 / 107 200,011 6,527 0 127,361 127,361 552,223 552,223
74 / 108 200,011 6,527 0 147,982 147,982 643,334 643,334
75 / 109 200,011 6,527 0 169,224 169,224 737,640 737,640
76 / 110 200,011 6,527 0 191,094 191,094 835,185 835,185

77 / 111 200,011 6,527 0 220,067 220,067 964,384 964,384
78 / 112 200,011 6,527 0 249,884 249,884 1,097,979 1,097,979
79 / 113 200,011 6,527 0 287,232 287,232 1,265,466 1,265,466
80 / 114 200,011 6,527 0 325,646 325,646 1,438,563 1,438,563
81 / 115 200,011 6,527 0 372,024 372,024 1,647,869 1,647,869

82 / 116 200,011 6,527 0 426,693 426,693 1,895,122 1,895,122
83 / 117 200,011 6,527 0 489,982 489,982 2,182,096 2,182,096
84 / 118 200,011 6,527 0 562,223 562,223 2,510,596 2,510,596
85 / 119 200,011 6,527 0 643,752 643,752 2,882,469 2,882,469
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MATURITY VALUE
(S$) (S$) (S$) (S$) (S$) (S$) (S$)
86 / 120 200,011 0 0 742,334 742,334 3,332,922 3,332,922
The above Surrender Values include the Guaranteed Annual Income that is payable for the Policy Year (if any).
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Based on the Illustrated Investment Rate of Return of the Participating Fund:

At 4.75% p.a., your total Illustrated Yield at maturity is 4.34% p.a.
At 3.25% p.a., your total Illustrated Yield at maturity is 3.21% p.a.
What is the significance of the Illustrated Investment Rate of Return?
The illustrations have been prepared on two assumptions regarding the investment rate of return achieved by the
investments of the Participating Fund. The two rates 4.75% p.a. and 3.25% p.a., are purely illustrative and do not represent
upper and lower limits on the investment performance of the Participating Fund. The two rates shown are net of any
investment expenses.
The higher Illustrated Investment Rate of Return does not exceed the maximum long-term illustration investment rate of
return (currently 4.75%), which has been set by the Life Insurance Association, Singapore.
Changes in the economic and investment environment may affect the investment performance of the Participating Fund and
the benefits that you may receive. Please note that investment performance is not the only factor that will affect the benefits
that you will receive. Other factors such as the actual level of death claims, disability claims, expenses incurred and other
terminations on the Participating Fund will also have a bearing on the benefits that you will receive.
As the bonus rates (or cash dividends) used for the benefits illustrated above are not guaranteed, the actual benefits payable
may vary according to the future experience of the Participating Fund.
What is the Illustrated Yield at Maturity?

The Illustrated Yields at Maturity represent the annualised investment return you may receive upon the maturity, net of the
cost of insurance and the expenses incurred, based on the Illustrated Investment Rates of Return of the Participating Fund at
4.75% and 3.25%.
The Illustrated Yields are not guaranteed and do not represent upper and lower limits on the yield you could receive on this
Participating policy.
As the bonus rates (or cash dividends) used for the benefits illustrated above are not guaranteed, the actual benefits payable
may vary according to the future experience of the Participating Fund. Every year, you will be informed of the actual bonus
rates or cash dividends (if any) of your Participating policy for that year. You can refer to the Product Summary for more
information on the illustrated bonus rates for this product. You can also refer to Your Guide to Participating Policies to find
out how bonus is determined.
Please note that the guaranteed benefit you receive upon the maturity of the policy may be less than the total premiums
paid.
1 2
Date: Date:
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What is the impact of deductions on what you might get back?
The following table illustrates the effect that deductions will have on the amount you get back on surrender or maturity. It
also highlights the cost of surrendering the policy early.
TABLE OF DEDUCTIONS
DEDUCTIONS
End of Total Illustrated at Illustrated at
Year/Age Paid To-Date Value of Effect of Total Value of Effect of Total
Premiums Deductions Surrender Premiums Deductions Surrender
Paid To-Date To-Date value Paid To-Date To-Date value
(S$) (S$) (S$) (S$) (S$) (S$) (S$)
1 / 35 40,002 41,302 41,302 0 41,902 41,902 0
2 / 36 80,004 83,947 83,947 0 85,795 85,795 0
3 / 37 120,007 127,977 115,773 12,204 131,773 119,399 12,373
4 / 38 160,009 173,439 149,885 23,554 179,934 156,153 23,781
5 / 39 200,011 220,378 181,834 38,544 230,384 191,553 38,830
6 / 40 200,011 227,541 170,726 56,815 241,327 184,166 57,160

7 / 41 200,011 234,936 159,850 75,086 252,790 177,297 75,492
8 / 42 200,011 242,571 140,113 102,458 264,797 161,871 102,926
9 / 43 200,011 250,455 111,523 138,931 277,375 137,914 139,461
10 / 44 200,011 258,595 49,362 209,232 290,551 80,724 209,827
11 / 45 200,011 266,999 57,596 209,402 304,352 94,193 210,159

12 / 46 200,011 275,676 66,005 209,671 318,809 108,115 210,693
13 / 47 200,011 284,636 74,593 210,042 333,952 122,514 211,438
14 / 48 200,011 293,886 83,370 210,516 349,815 137,417 212,398
15 / 49 200,011 303,438 92,344 211,093 366,431 152,852 213,578
16 / 50 200,011 313,300 101,522 211,777 383,836 167,785 216,051

17 / 51 200,011 323,482 110,914 212,567 402,069 184,300 217,768
18 / 52 200,011 333,995 120,527 213,468 421,167 201,438 219,728
19 / 53 200,011 344,850 130,371 214,478 441,172 219,234 221,938
20 / 54 200,011 356,057 140,455 215,602 462,128 237,721 224,407
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TABLE OF DEDUCTIONS
DEDUCTIONS
(S$) (S$) (S$) (S$) (S$) (S$) (S$)
21 / 55 200,011 367,629 150,791 216,838 484,079 256,939 227,140

22 / 56 200,011 379,577 161,385 218,192 507,073 276,925 230,147
23 / 57 200,011 391,914 172,252 219,661 531,159 297,724 233,435
24 / 58 200,011 404,651 183,399 221,252 556,389 319,375 237,014
25 / 59 200,011 417,802 194,840 222,962 582,818 341,927 240,890
26 / 60 200,011 431,380 206,584 224,796 610,501 363,608 246,892

27 / 61 200,011 445,400 218,647 226,753 639,500 388,027 251,472
28 / 62 200,011 459,876 231,037 228,839 669,877 413,496 256,380
29 / 63 200,011 474,822 243,770 231,051 701,696 440,072 261,624
30 / 64 200,011 490,254 256,858 233,395 735,026 467,811 267,215
31 / 65 200,011 506,187 270,316 235,870 769,940 496,778 273,162

32 / 66 200,011 522,638 284,156 238,481 806,512 527,034 279,477
33 / 67 200,011 539,624 298,396 241,227 844,822 558,650 286,171
34 / 68 200,011 557,161 313,049 244,112 884,951 591,695 293,255
35 / 69 200,011 575,269 328,132 247,137 926,986 626,246 300,739
36 / 70 200,011 593,965 343,660 250,305 971,018 662,379 308,638

37 / 71 200,011 613,269 359,652 253,617 1,017,141 700,178 316,962
38 / 72 200,011 633,201 376,124 257,076 1,065,455 739,729 325,726
39 / 73 200,011 653,780 393,094 260,685 1,116,064 781,123 334,940
40 / 74 200,011 675,027 410,583 264,444 1,169,077 824,457 344,619
41 / 75 200,011 696,966 428,268 268,697 1,224,609 869,490 355,118

42 / 76 200,011 719,617 440,323 279,293 1,282,778 910,479 372,298
43 / 77 200,011 743,005 452,957 290,048 1,343,710 953,724 389,985
44 / 78 200,011 767,153 466,190 300,962 1,407,536 999,340 408,195
45 / 79 200,011 792,085 480,044 312,040 1,474,394 1,047,449 426,944
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TABLE OF DEDUCTIONS
DEDUCTIONS
(S$) (S$) (S$) (S$) (S$) (S$) (S$)
46 / 80 200,011 817,828 494,544 323,283 1,544,427 1,098,179 446,248
47 / 81 200,011 844,407 509,713 334,694 1,617,788 1,151,664 466,123
48 / 82 200,011 871,850 525,575 346,275 1,694,633 1,208,045 486,587
49 / 83 200,011 900,186 542,156 358,029 1,775,128 1,267,470 507,657
50 / 84 200,011 929,442 559,482 369,959 1,859,446 1,330,095 529,351
51 / 85 200,011 959,648 577,581 382,067 1,947,770 1,396,082 551,688

52 / 86 200,011 990,837 596,481 394,355 2,040,289 1,465,602 574,686
53 / 87 200,011 1,023,039 616,212 406,827 2,137,203 1,538,836 598,367
54 / 88 200,011 1,056,288 636,802 419,485 2,238,720 1,615,970 622,750
55 / 89 200,011 1,090,617 658,284 432,332 2,345,059 1,697,203 647,855
56 / 90 200,011 1,126,063 680,691 445,371 2,456,450 1,782,743 673,706

57 / 91 200,011 1,162,660 704,054 458,605 2,573,131 1,872,807 700,324
58 / 92 200,011 1,200,446 728,409 472,037 2,695,355 1,967,623 727,731
59 / 93 200,011 1,239,461 749,085 490,375 2,823,384 2,047,758 775,626
60 / 94 200,011 1,279,743 770,639 509,104 2,957,495 2,132,250 825,245
61 / 95 200,011 1,321,335 793,106 528,228 3,097,976 2,221,350 876,626

62 / 96 200,011 1,364,278 816,525 547,753 3,245,130 2,315,321 929,808
63 / 97 200,011 1,408,617 840,935 567,682 3,399,273 2,414,440 984,833
64 / 98 200,011 1,454,397 866,376 588,021 3,560,739 2,518,998 1,041,740
65 / 99 200,011 1,501,665 892,890 608,774 3,729,874 2,629,301 1,100,573
66 / 100 200,011 1,550,469 920,522 629,947 3,907,043 2,745,668 1,161,374

67 / 101 200,011 1,600,859 949,315 651,543 4,092,628 2,868,439 1,224,188
68 / 102 200,011 1,652,887 979,317 673,569 4,287,028 2,997,967 1,289,060
69 / 103 200,011 1,706,606 1,004,910 701,696 4,490,661 3,110,315 1,380,346
70 / 104 200,011 1,762,071 1,031,611 730,459 4,703,968 3,229,205 1,474,762
71 / 105 200,011 1,819,338 1,059,471 759,867 4,927,406 3,355,032 1,572,374
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TABLE OF DEDUCTIONS
DEDUCTIONS
(S$) (S$) (S$) (S$) (S$) (S$) (S$)
72 / 106 200,011 1,878,467 1,088,541 789,925 5,161,458 3,488,213 1,673,244
73 / 107 200,011 1,939,517 1,118,875 820,642 5,406,627 3,629,186 1,777,441
74 / 108 200,011 2,002,551 1,144,361 858,189 5,663,442 3,751,605 1,911,837
75 / 109 200,011 2,067,634 1,171,021 896,612 5,932,456 3,881,731 2,050,724
76 / 110 200,011 2,134,832 1,198,912 935,920 6,214,247 4,020,057 2,194,190

77 / 111 200,011 2,204,214 1,221,621 982,593 6,509,424 4,138,738 2,370,686
78 / 112 200,011 2,275,851 1,245,475 1,030,376 6,818,622 4,265,623 2,552,998
79 / 113 200,011 2,349,817 1,263,858 1,085,958 7,142,506 4,371,843 2,770,663
80 / 114 200,011 2,426,186 1,283,304 1,142,881 7,481,775 4,486,331 2,995,444
81 / 115 200,011 2,505,037 1,296,991 1,208,045 7,837,160 4,579,176 3,257,983

82 / 116 200,011 2,586,450 1,304,668 1,281,782 8,209,425 4,649,357 3,560,067
83 / 117 200,011 2,670,510 1,306,086 1,364,424 8,599,373 4,695,856 3,903,517
84 / 118 200,011 2,757,302 1,300,992 1,456,309 9,007,843 4,717,655 4,290,188
85 / 119 200,011 2,846,914 1,289,136 1,557,777 9,435,715 4,713,739 4,721,976
86 / 120 200,011 2,939,439 1,269,369 1,670,069 9,883,912 4,656,298 5,227,613
What do the columns in the table of deductions mean?
1. “Value of Premiums Paid To-date” is obtained by accumulating the premiums paid to date at the Illustrated Investment
Rate of Return, assuming the premiums paid can be invested without deduction for the cost of insurance and without any
expenses.
2. "Total Surrender Value" includes past Guaranteed Annual Income accumulated with non-guaranteed interest. The
Guaranteed Annual Income will earn 3.00% p.a. or 1.50% p.a under the Illustrated Investment Rate of Return of 4.75% p.a.
and 3.25% p.a respectively.
1 2
Date: Date:
www.axa.com.sg

3. The difference between the “Value of Premiums Paid To-date” and “Total Surrender Value” represents the “Effect of
Deductions To-date”. This is the accumulated value of the deductions for the cost of insurance, distribution cost, expenses,
surrender charge, expected tax payments, and expected transfers to shareholders (for participating policies).
1 2
Date: Date:
www.axa.com.sg

How much are you paying for distribution costs?
This table shows the total costs of distribution that AXA expects to incur in relation to your policy, including the cost of any
financial advice provided to you.
Total Distribution Cost

End of Total Premiums Total Distribution
Policy Paid To-Date Cost To-Date
Year/Age (S$) (S$)
1 / 35 40,002 11,552
2 / 36 80,004 17,413
3 / 37 120,007 18,081
4 / 38 160,009 18,749
5 / 39 200,011 19,417
6 / 40 200,011 19,417
7 / 41 200,011 19,417
8 / 42 200,011 19,417
9 / 43 200,011 19,417
10 / 44 200,011 19,417
15 / 49 200,011 19,417
20 / 54 200,011 19,417
25 / 59 200,011 19,417
30 / 64 200,011 19,417
35 / 69 200,011 19,417
40 / 74 200,011 19,417
45 / 79 200,011 19,417
50 / 84 200,011 19,417
55 / 89 200,011 19,417
60 / 94 200,011 19,417
65 / 99 200,011 19,417
70 / 104 200,011 19,417
75 / 109 200,011 19,417
80 / 114 200,011 19,417
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Date: Date:
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Total Distribution Cost

End of Total Premiums Total Distribution
Policy Paid To-Date Cost To-Date
Year/Age (S$) (S$)
85 / 119 200,011 19,417
86 / 120 200,011 19,417
What does the last column represent?
1. The Total Distribution Cost To-date is the sum of each year's expected distribution-related costs, without interest. Such
costs include cash payments in the form of commission, costs of benefits and services paid to the distribution channel.
2. Please note that the Total Distribution Cost is not an additional cost to you; it has already been allowed for in calculating
your premium.
3. You can obtain the Total Distribution Cost of each of the supplementary benefits (if applicable) from your Financial Adviser
or its representatives.
1 2
Date: Date:
www.axa.com.sg
ACKNOWLEDGEMENT
Presented to:
Name of Life Assured : Beatriz Palmeira Torres
Your Plan and Rider(s), if any:

AXA Retire Treasure (II)
Client(s) Acknowledgement:
1. I / We confirm that I / We have received all pages of the Policy Illustration for the basic plan / all riders listed above,
where applicable.
2. I / We confirm that I / We have received all pages of the Product Summary for the basic plan and riders listed above
where applicable, and that the terms and conditions of the policy as set out in the product summary have been
explained to me and that I understand the features of the policy and the applicable fees and charges.
1 2
Date: Date:
www.axa.com.sg

Policy Illustration Document(s)

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This Cover Page is an important document.

AXA Retire Treasure (II)

Product Type Participating Endowment Plan

COVER PAGE FOR PARTICIPATING ENDOWMENT PLAN

WHAT ARE YOU PURCHASING?

WHAT ARE THE KEY RISKS OF A PARTICIPATING PLAN?

ARE THE PARTICIPATING FUND’S ILLUSTRATED INVESTMENT RATES OF RETURN GUARANTEED?

Adviser's Signature Proposer's Signature

COVER PAGE FOR PARTICIPATING ENDOWMENT PLAN

Averaged over Averaged over Averaged over

HOW WILL EXPENSES INCURRED BY THE PARTICIPATING FUND AFFECT YOU?

Adviser's Signature Proposer's Signature

CONFIDENTIAL Date: 05/04/2019

Averaged over Averaged over Averaged over

HOW MUCH WILL YOU NEED TO PAY FOR ADVICE?

COVER PAGE FOR PARTICIPATING ENDOWMENT PLAN

WHAT HAPPENS IF YOU SURRENDER YOUR POLICY EARLY?

OTHER IMPORTANT INFORMATION

Adviser's Signature Proposer's Signature

Adviser Name : NELLY TERUMI MASUDA HOLLAND Date : 05/04/2019

Life Assured Details

Payment Mode : Annual

Total Premium ($) 40,002.36

Your Premium ($) Annual Semi-Annual Quarterly Monthly

Proposal on the life of : Beatriz Palmeira Torres Date : 05/04/2019

Payment Term : 5 Years Re-deposit Option : No

Annual Premium : $40,002.36

Guaranteed Annual Income : $6,527.48

Summary of Income Payout and Non-guaranteed Bonuses

Guaranteed Annual Income : Paid Out

Total Guaranteed Annual Income [B] : $496,088

Total Projected Payout Ratio [D] / [A] : 1914 %

1. This refers to the Illustrated Investment Rate of Return.

Proposal on the life of : Beatriz Palmeira Torres Date : 05/04/2019

2. The quotation is applicable to standard life.

Proposal on the life of : Beatriz Palmeira Torres Date : 05/04/2019

6 / 40 200,011 202,011 41,206 243,217 75,768 277,779

11 / 45 200,011 195,484 76,597 272,081 142,457 337,941

16 / 50 200,011 162,847 112,972 275,819 318,823 481,670

21 / 55 200,011 130,209 150,357 280,566 429,322 559,531

26 / 60 200,011 97,572 188,783 286,355 727,276 824,848

Proposal on the life of : Beatriz Palmeira Torres Date : 05/04/2019

31 / 65 200,011 64,934 228,276 293,210 890,022 954,956

36 / 70 200,011 32,297 268,869 301,166 1,061,070 1,093,367

41 / 75 200,011 0 310,590 310,590 1,240,844 1,240,844

46 / 80 200,011 0 353,470 353,470 1,429,784 1,429,784

51 / 85 200,011 0 397,542 397,542 1,628,366 1,628,366

56 / 90 200,011 0 442,839 442,839 1,837,078 1,837,078

Proposal on the life of : Beatriz Palmeira Torres Date : 05/04/2019

61 / 95 200,011 0 489,396 489,396 2,056,434 2,056,434

66 / 100 200,011 0 537,249 537,249 2,286,980 2,286,980

71 / 105 200,011 0 586,431 586,431 2,529,286 2,529,286

76 / 110 200,011 0 636,980 636,980 2,783,952 2,783,952

81 / 115 200,011 0 688,935 688,935 3,051,610 3,051,610

86 / 120 200,011 0 742,334 742,334 3,332,922 3,332,922

Proposal on the life of : Beatriz Palmeira Torres Date : 05/04/2019

6 / 40 200,011 0 56,403 412 56,815 757 57,160

11 / 45 200,011 6,527 195,484 765 196,249 1,424 196,908

16 / 50 200,011 6,527 162,847 1,129 163,976 3,188 166,035

21 / 55 200,011 6,527 130,209 1,503 131,712 4,293 134,502

26 / 60 200,011 6,527 97,572 1,887 99,459 7,272 104,844

Proposal on the life of : Beatriz Palmeira Torres Date : 05/04/2019

31 / 65 200,011 6,527 64,934 2,282 67,216 8,900 73,834