AXA Equitable Meets the Needs of Two People under One Life Insurance Policy
March 03 2008 - 12:38PM
PR Newswire (US)
NEW YORK, March 3 /PRNewswire-FirstCall/ -- Today AXA Equitable
unveiled its new Athena Survivorship Universal Life(SM) III (Athena
SUL III) insurance product, designed to deliver cost-effective
death benefit protection to couples and business partners for their
estate, business and charitable planning needs. By providing a
death benefit upon the death of the surviving insured, Athena SUL
III can be used to pay sizeable estate taxes and other expenses.
Athena SUL III introduces a new Preferred Plus underwriting class
and, for an additional charge, offers policyholders an optional
Lapse Protection Rider (LPR) that guarantees the policy premium
against fluctuations in interest crediting rates or increases in
policy charges, as long as certain requirements are met. "Adding
Athena SUL III to AXA Equitable's product portfolio," said Claude
Methot, Senior Vice President and Chief Product Officer, who made
today's announcement, "ensures that we're providing a wide range of
solutions to meet every life insurance need, from a business' key
person protection to a couple's wealth transfer." Two People. Many
Needs. Any two people may have different reasons for needing joint
coverage under a survivorship universal life insurance policy.
Athena SUL III is designed to meet these many needs, including: --
Wealthy married couples who desire competitively-priced guaranteed
death benefit coverage for estate liquidity or other wealth
transfer purposes. -- Married couples who desire to use life
insurance to make leveraged charitable bequests. -- Businesses that
have at least two owners or key employees and want to take
advantage of a cost-effective survivorship universal life policy
versus paying premiums on two single life policies and can afford
to wait on death benefit proceeds until the death of the surviving
insured. -- Dual wage-earners who have a special-needs family
member or dependent. -- High net worth couples who want to use life
insurance to help hedge their portfolio against possible market
losses. Advanced Case Design Support Often the specific situations
in which an Athena SUL III policy may make sense -� such as estate
tax planning, legacy wealth transfers, charitable giving, and
private split dollar arrangements -� can require knowledge support
in case design. To help clients, their legal and tax advisors, and
their financial professionals address complex life insurance case
design issues, AXA Equitable makes available a team of Advanced
Markets professionals, equipped with a powerful understanding of
the latest planning options. Complimenting AXA Equitable's
competitive products, the Advanced Markets team works with clients'
financial professionals, legal and tax advisors to help meet
clients' financial goals. Neither AXA Equitable nor its affiliates
provide legal or tax advice. Clients should consult with their
legal and tax advisors regarding their particular situation. Athena
SUL III (Policy form 07-400 in most jurisdictions but state
variations may apply) is issued by and is a service mark of AXA
Equitable Life Insurance Company, New York, NY. All guarantees are
based on the claims paying ability of AXA Equitable Life Insurance
Company. Athena SUL III allows the policyholder to select
additional riders to customize the policy to fit his or her need.
Most riders have an additional cost and may not be available in all
states. About AXA Equitable In business since 1859, AXA Equitable
Life Insurance Company is a leading financial protection company
and one of the nation's premier providers of life insurance,
annuity, and investment products and services. AXA Equitable's
assets under management totaled $888.6 billion as of December 31,
2007. The company's products and services are distributed to
individuals and business owners through its retail distribution
channel AXA Advisors, LLC; to the financial services market through
its wholesale distribution channel, AXA Distributors, LLC; and to
corporations and their employees through its corporate distribution
channel, Corporate Markets. AXA Distributors, the company's
wholesale division, makes available AXA Equitable's proprietary
life insurance products and services to brokerage general agents
(BGAs), broker/dealers, and independent financial planner producer
groups. These products include Athena Universal Life and Athena
Survivorship Life; Incentive Life(SM) (IL) Series, including IL
Legacy and Survivorship Incentive Life '02; and the AXA Equitable
Level Term(SM) and Return of Premium Term(SM) Series. AXA
Equitable, a subsidiary of AXA Financial Inc., is part of the
global AXA Group, a worldwide leader in financial protection
strategies and wealth management. AXA Group's operations are
geographically diverse, with major operations in Western Europe,
North America, and the Asia/Pacific region. AXA Group is listed as
the 15th largest company in the world on the 2007 Fortune Global
500 list (based on revenues). It had $1.87 trillion in assets under
management as of December 31, 2007. Listed on the Paris Stock
Exchange, the AXA ordinary share trades under the symbol AXA. The
AXA American Depositary Share is listed on the New York Stock
Exchange under the ticker symbol AXA. While a part of the AXA
Group, AXA Equitable is solely responsible for its life insurance
and annuity obligations. AXA Equitable is a sponsor of the Variable
Annuities Knowledge Center (http://www.variableannuityfacts.org/),
an online resource aimed at helping consumers understand the facts
surrounding variable annuities. The Variable Annuities Knowledge
Center is operated by a stand-alone, non-profit organization and is
overseen by an independent advisory board. DATASOURCE: AXA
Equitable CONTACT: Discretion Winter, +1-212-314-2968, , or Lisa
Tibbets, +1-212-314-2811, Web site: http://www.axa-equitable.com/
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