Customers will also be offered 180 days to accept cover without completing a declaration of health, up from the original 90-day limit.
Clients offered rated premiums will have 90 days to take up a policy, rather than the previous 30-day time period.
The updated time periods are aimed at consumers whose house purchases are taking a long time to complete, and who only need protection when the sale has gone through.
Advisers will still earn commission based on the full term of the policy, regardless of the changes to the life cover age limit.
Iain Mallon, director of protection marketing at AXA, says: “By offering life cover to people up to the age of 85 and increasing the acceptance period to 180 days we are helping consumers to meet the needs of modern day life.”