New Feature Addresses Impact of Higher
Interest Rates; Company Reaffirms its Commitment to Product
Simplicity and Clarity for Financial Professionals, Clients
AXA Equitable, a leading financial protection company, announced
today it has enhanced its indexed universal life product, IUL
Protect, with a new feature that can potentially pay clients more
as interest rates increase.
IUL Protect now includes an Extra Interest Credit feature, which
increases as interest rates rise, delivering direct cash value to
clients. This accrues on top of the policy’s potential index
returns, allowing clients the opportunity to get more value out of
what they put into their policies.
“We continue to innovate on behalf of our clients,” said Ron
Herrmann, head of life insurance and employee benefits for AXA US.
“This enhancement not only offers our clients long-term stability
but also helps ensure that they are prepared for a rapidly
evolving, often unpredictable market.”
Other important features of IUL Protect include:
- A simple “no-math,” no-lapse guarantee
to age 90, or for 40 years if the policy is purchased before age
50, eliminating guesswork and complex calculations1
- A competitive Long-Term Care Services℠
Rider, which provides protection against the possibility of
incurring significant long-term care expenses2
- Flexibility to access cash value in the
policy, if policyholder needs change
- Strong caps designed to seek long-term
stability in a changing interest rate environment3
At the foundation of IUL Protect is AXA’s long-standing
commitment to simplicity and clarity, with transparent features
that eliminate uncertainty and provide meaningful protection
contributing to clients’ long-term financial security.
“Life insurance doesn’t have to be complicated. As the industry
becomes more complex, we believe it is possible to provide clients
with market-leading products in a clear, straight-forward and
relatable manner,” said Herrmann.
Today’s announcement underscores the company’s dedication to
offering easy to understand products and services that go beyond
the typical financial aspects of retirement planning. As part of
this effort, AXA recently announced a collaboration with nationally
recognized gerontologist, Dr. Sandra Timmermann, to provide
financial professionals and their clients with the tools and
resources needed to think broadly about their individual journeys
including the financial, social, cognitive and biological aspects
of aging.
About AXA
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 and annuity products
distributed to individuals and business owners through its retail
distribution channel, AXA Advisors, LLC (member FINRA, SIPC) and to
the financial services market through its wholesale distribution
channel, AXA Distributors, LLC.
AXA S.A. (also referred to as “AXA Group”) is a
Paris-headquartered holding company for a group of international
insurance and financial services companies, including AXA Equitable
Financial Services, LLC companies. AXA S.A. is a worldwide leader
in financial protection strategies and wealth management with 107
million clients in 64 countries as of Dec. 31, 2016. AXA S.A. has
been ranked the No. 1 insurance brand in the world by Interbrand
for eight consecutive years as of Oct. 5, 2016.
“AXA” is a brand name of AXA Equitable Financial Services,
LLC and its family of companies, including AXA Equitable Life
Insurance Company (NY, NY), MONY Life Insurance Company of America
(AZ stock company, administrative office: Jersey City, NJ), AXA
Advisors, LLC, and AXA Distributors, LLC. The obligations of AXA
Equitable Life Insurance Company and MONY Life Insurance Company of
America are backed solely by their claims-paying ability. Find AXA
on Facebook, Twitter and LinkedIn. For more
information, visit www.axa.com.
This press release is not intended to be a complete description
of the IUL Protect product. IUL Protect is a flexible premium
universal life insurance policy with an index-linked interest
option. Life insurance is subject to exclusions and limitations and
terms for keeping it in force. Certain types of policies, features
and benefits may not be available in all jurisdictions, or may be
different. For costs and complete details of coverage, contact your
financial professional.
Loans and partial withdrawals will decrease the death benefit
and cash surrender value of your life insurance policy, may be
subject to policy limitations and income tax, may cause the policy
benefits and riders to become unavailable, and may increase the
chance your policy may lapse, in which case it may generally be
viewed as a taxable distribution. IUL Protect contains additional
charges, including but not limited to a 15-year surrender charge,
premium charges, insurance charges and administrative fees. Be sure
to review with your Financial Professional before purchasing.
IUL Protect is issued in New York and Puerto Rico by AXA
Equitable Life Insurance Company (NY, NY), and in all other
jurisdictions by MONY Life Insurance Company of America (MLOA), and
is co-distributed by AXA Distributors, LLC and AXA Network, LLC.
MLOA is not licensed in NY. AXA Equitable Financial Services, LLC
and its affiliates do not provide tax or legal advice. All
guarantees are based on the claims-paying ability of the issuing
company — either AXA Equitable or MLOA. Policy form #ICC 15-300 or
state variations. Rider form #ICC15-R15-140 or state variations.
GE-133032(01/18)(exp.01/20)
1 No-Lapse Guarantee (NLG) coverage, which is available at an
additional cost, is guaranteed to age 90, or for 40 years if the
policy is purchased under age 50, as long as certain premium levels
are maintained (excluding loans).
2 The Long-Term Care ServicesSM Rider has an additional cost and
is subject to restrictions and limitations. A client may qualify
for life insurance but not for the Long-Term Care ServicesSM
Rider.
3 The Growth Cap is designed to further volatility.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180206005903/en/
AXAJennifer Recine, 212-314-2010MediaRelations@axa.us.com
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