Research Underscores the Priority of Income Guarantees and Trusted Financial Advice; Key Differences Also Exist Along Gender Lines NEW YORK, Nov. 20 /PRNewswire-FirstCall/ -- AXA Equitable Life Insurance Company announced today results of an October 2008 study that revealed the consumer attitudes and behaviors of Americans have shifted rather dramatically in the past six months. Among the most notable results, almost eight in 10 of those polled (78%) ranked income guarantees as a top financial priority, up 16 percentage points from a similar AXA Equitable poll conducted in April. "It's no surprise that attitudes and behaviors have changed, especially given the period of economic instability we're experiencing," said Barbara Goodstein, executive vice president and chief innovation officer for AXA Equitable. "What is striking, however, is the heightened priority being placed so quickly on securing a stream of lifetime income." The AXA Equitable study also found that those placing a priority on protection from outliving retirement savings increased dramatically, from 59 percent six months ago to 71 percent in October. Securing protection against market conditions also increased considerably with 68 percent ranking it as a priority, compared to a little more than half (53%) back in April. Other notable findings from the October study included: Consumers Are Almost Divided Between Waiting It Out and Taking Action The study found that slightly more than half of those polled (54%) said that they have not made financial changes, nor do they intend to do so. For the 25 percent of those who have thought about doing something, the actions most considered included meeting with an advisor (62%), reallocating investments (47%) or making withdrawals (24%). Of the 21 percent that have actually taken action amid the volatility, 67 percent said that they reallocated investments, 56 percent bought products like annuities, life insurance and stocks, and 24 percent made withdrawals from 401(k) or 403(b) accounts or liquidated personal investments. Information Found on the Web, Trust Found in Financial Professionals The AXA Equitable study also found that of all the sources to learn about finances, almost half of those polled (48%) sought information from news and financial Web sites. Other preferred sources included newspapers (45%), financial professionals (35%) and magazines (15%). Consumer perception shifted when polled on trust, as 61 percent ranked financial professionals the most trustworthy - 10 percentage points more than financial Web sites (51%) and 20 percentage points more than news Web sites (41%). "The fact that people are using the tools at their disposal to educate themselves is very encouraging," said Ms. Goodstein. "But more interesting is that our study also illustrates that people still view the relationship cultivated with a financial professional as invaluable and better positions them to make sound decisions." Women More Concerned About the Future, Men More Likely to Act Now Among the most compelling differences along gender lines, the AXA Equitable study found that women are more concerned amid the current market turmoil about their retirement savings than male counterparts. Specifically, 84 percent of women polled rated having a guaranteed source of lifetime income as "extremely important," compared to just 73 percent of men. Women are also significantly more concerned about protecting retirement income from market downturn as 75 percent viewed it as "extremely important," compared to just 60 percent of men. Although more concerned than men about the future, the study found that women are less likely to make changes in response to current market conditions. Specifically, more than half of men polled (55%) said that they have reallocated money in an employer-sponsored account, compared to just 40 percent of women. In addition, 29 percent of men have either withdrawn money from an employer-sponsored account or mutual funds, or sold stocks, compared to 19 percent of women. "Women are clearly focused on protecting retirement income and have been responding more conservatively as a result," added Ms. Goodstein. "Regardless of whether you're a man or woman, it's important to evaluate your current financial situation and make the well informed decisions that help secure a strong financial future." About the Study AXA Equitable conducted an online survey among 400 randomly chosen U.S. consumers who were between the ages of 35 to 70, with household incomes of $75,000 or higher. The research was conducted by a third-party independent research firm, OTX Research. The study was fielded in October 2008, and comparisons are made to a similar survey conducted in April 2008. Based on the size of the study sample, if the study were to be repeated 20 times, 19 times would yield results within +/- 5%. 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 $665.6 billion as of September 30, 2008. AXA Equitable's assets under management are inclusive of assets under management held by an affiliate, AllianceBernstein, L.P. AXA Equitable has sole responsibility for its life insurance and annuity obligations. 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 Equitable is the creator of MyRetirementShop.com (http://www.myretirementshop.com/), a lifestyle Web site 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. 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). "AXA Group" refers to AXA, a French holding company for an international group of insurance and financial services companies together with its direct and indirect consolidated subsidiaries. AXA Equitable Life Insurance Company is an indirect, wholly owned subsidiary of AXA. 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. For more information, visit http://www.axa-equitable.com/. AXA Equitable Life Insurance Company (NY, NY) issues life insurance and annuity products. Guarantees in the life insurance and annuity products are based on the claims-paying ability of AXA Equitable Life Insurance Company. Securities are co-distributed through affiliates, AXA Advisors, LLC and AXA Distributors, LLC. AXA Equitable and AXA Advisors do not provide legal or tax advice. DATASOURCE: AXA Equitable CONTACT: Michael Arcaro, +1-212-314-2030, , Jo Ann Tizzano, +1-212-314-2979, both for AXA Equitable Web Site: http://www.axa-equitable.com/

Copyright