AXA Equitable Offers Americans Life Insurance Protection at Affordable Prices
August 11 2008 - 8:00AM
PR Newswire (US)
Company Offers More Competitive Premiums and Improved Conversion
Privileges to Enhance its New Term Series NEW YORK, Aug. 11
/PRNewswire/ -- In today's economy, many Americans are looking for
help in providing financial security for their spouses, families or
businesses. To meet that need, AXA Equitable Life Insurance Company
announced today that it's making it easier for Americans to secure
their financial future by offering more competitive rates and
improved conversion privileges on its new portfolio of term
products -- AXA Equitable's Term Series(SM). The announcement was
made by Claude Methot, Senior Vice President and Chief Product
Officer. "AXA Equitable's new Term Series(SM) is designed to meet
the varying financial needs of consumers in different life
situations, offering some of the most competitive premiums in the
industry," said Mr. Methot. "Term products offer relatively
inexpensive coverage for a period of time while providing an
appropriate amount of insurance protection. Term may be appropriate
for clients who have limited cash flow or who have a short-term
need for insurance protection, such as those establishing a
business, young professionals with school debt, families with
mortgages, and others with limited resources." Highly Competitive
Premiums AXA Equitable's Term Series offers four different
level-term products -- Term 10, Term 15, Term 20 and Term 30.
Premiums for each product are guaranteed level for the first 10-,
15-, 20- or 30-year period, respectively. After the guaranteed
level-premium period expires, premiums increase annually at
guaranteed ultimate rates. "For our new Term Series(SM), we have
decreased premiums rates across all four products," said Mr.
Methot. "Thanks to these reductions, our new Term Series
consistently ranks at or near the top versus the competition,
especially for our popular Term 20 offering." Additionally, AXA
Equitable's annual renewable term (ART) product has been revised.
ART is a non-participating product with two sets of premiums:
Current scheduled premiums and guaranteed maximum premiums. The
current scheduled premium is guaranteed for the first policy year
and increases each year thereafter. However, the scheduled premium
will never exceed the guaranteed maximum premiums shown in the
policy. Improved Conversion Privileges AXA Equitable's new Term
Series(SM) makes it easier for clients to convert to permanent life
insurance, which offers lifelong protection and the ability to
potentially build cash value to help meet financial goals. Unlike
some term products that only give policyholders a few years to make
up their minds, AXA Equitable's conversion privileges have been
extended to the full level term period for 10-, 15-, and 20-year
level term. The 10- and 15-year term products are convertible for
the full 10- and 15-year level term period and the 20- and 30-year
term products are convertible for 20 years. And unlike many
competitors, eligible clients can currently convert their level
term policies into any AXA Equitable permanent product, not just a
select few*. *Assuming that the policy is currently eligible to
convert to permanent coverage under the terms of the contract.
About AXA Equitable's Term Series(SM) Premiums for all four
level-term products are guaranteed for the entire term of the
policy. The ART product has two sets of premiums, a current
scheduled premium guaranteed for the first policy year which
generally increases each year thereafter, and a guaranteed maximum
premium. Further, AXA Equitable's Term Series(SM) includes a choice
of benefit riders that enable clients to expand their coverage,
including a Disability Premium Waiver, and Children's Term
Insurance Rider. All of AXA Equitable's Term Series(SM) products
include a Living Benefits Rider that enables policyholders to
receive a portion of the death benefit during their lifetime in the
event of terminal illness. (The Living Benefits Rider is not
available in New Jersey and Washington.) (Policy Forms #147-10,
#147-15, #147-20, #147-30, #147-54, Disability Premium Waiver Rider
# R85-201, Level Term Insurance Rider -- Children's Term Insurance
# R79-33, Accelerated Death Benefit Rider, form # R06-70).
Variations by state may apply to the AXA Equitable's Term
Series(SM). Term life insurance products are issued by 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 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 Europe, North
America, and the Asia/Pacific region. AXA Group is listed as the
15th largest company in the world on the 2008 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. AXA Equitable is the creator
of MyRetirementShop.com (http://www.myretirementshop.com/), a
lifestyle website that's a one-stop-shop for information and
resources to help consumers redefine life in retirement. It's the
company's latest innovation in our At Retirement(r) platform,
committed to helping individuals near and at retirement make
informed choices to enhance and preserve their lifestyle. While a
part of the AXA Group, AXA Equitable is solely responsible for its
life insurance and annuity obligations. DATASOURCE: AXA Equitable
CONTACT: Matt Klein of AXA Equitable, +1-212-314-2919, Web site:
http://www.axa-equitable.com/ http://www.myretirementshop.com/
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