New Rider Offsets Liquidity Issues for Wealthy Individuals and Corporations NEW YORK, Jan. 15 /PRNewswire/ -- Sometimes liquidity is an issue when wealthy individuals or businesses require substantial amounts of life insurance protection. That's why AXA Equitable introduced today in approved jurisdictions a new Cash Value Plus Rider on its Athena Universal Life(SM) Death Benefit product (Athena UL-DB(SM) CVPlus Rider). Whether it's protecting a family's financial future or a successful business, the CVPlus Rider reduces the need to tie up other assets or obtain letters of credit as collateral when financing life insurance. The announcement was made by Claude Methot, Senior Vice President and Chief Product Officer of AXA Equitable. Advanced Planning for Individuals and Corporations "The financial protection life insurance offers can be critical to sustain a thriving business or protect a wealthy person's estate but sometimes liquidity constraints delay action to protect," said Mr. Methot. "Our new CVPlus Rider makes it easier to act, by offering a flexible alternative for clients who are reluctant to move assets for purposes of posting collateral in premium financing arrangements." Using the CVPlus Rider, a client may get upwards of 95% of required collateral with the policy alone, minimizing out-of-pocket collateral and often obtaining more favorable financing terms. The CVPlus Rider may also be beneficial in corporate-owned business planning. "By increasing the policy's Cash Surrender Value," said Mr. Methot, "the CVPlus Rider can offset the impact of the premium outlay on a corporation's books." How the CVPlus Rider Works AXA Equitable Athena UL-DB policies with the CVPlus Rider have higher early Cash Surrender Value, if the policy is fully surrendered, than policies without it. For a one-time charge of $250, there are two different ways that the CVPlus Rider increases the policy's Cash Surrender Value: 1. For the first eight(8) policy years, surrender charges will be reduced by a specified percentage as indicated in this chart below: Policy Year 1-4 5 6 7 8 % Reduction 100% 80% 65% 45% 25% 2. And refunding a portion of the cumulative premium charges deducted during the first three(3) policy years. The CVPlus Rider must be elected at issue of an Athena Universal Life(SM) Death Benefit policy with a minimum face amount of $1,000,000 and $50,000 in annualized premium. Issue ages vary by underwriting class and tobacco user status and range between ages 0-75. Face amount increases are not permitted while the rider is in force. * The reduction in surrender charge does not apply to any proportionate surrender charges resulting from a face amount decrease. Also, the enhanced cash value is not available if the policy is being exchanged or replaced with another life insurance policy or annuity contract on the insured, including (but not limited to) 1035 exchanges, except for policies issued in Florida. Athena UL(SM)-DB (Policy form #07-200 or state variation; CVPlus, rider form #07-80 or state variation) 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. About AXA Equitable AXA Equitable Life Insurance Company, which has been in business since 1859, is a leading nationwide issuer of life insurance and annuity products. The company had more than 11,000 employees and sales personnel and approximately 4.8 million policy/contract holders nationwide as of Dec. 31, 2006. AXA Equitable is solely responsible for its life insurance and annuity obligations. AXA Equitable Life Insurance Company, New York, NY, is one of the premier U.S. organizations providing life insurance and annuity products and services for the financial services market. Variable products are co-distributed by affiliates AXA Advisors, LLC, and AXA Distributors, LLC. AXA Equitable's parent company, AXA Financial, Inc., is a member of the global AXA Group. AXA Group's operations are geographically diverse, with major operations in Western Europe, North America, and the Asia/Pacific region. The AXA ordinary share is listed on the Paris Stock Exchange and trades under the symbol AXA. The AXA American Depositary Share is also listed on the NYSE under the ticker symbol AXA. 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 it is overseen by an independent advisory board. DATASOURCE: AXA Equitable CONTACT: Discretion Winter, +1-212-314-2968, , or Lisa Tibbitts, +1-212-314-2811, , both of AXA Equitable Web site: http://www.axa-equitable.com/

Copyright