AXA Equitable and Its Affiliate Introduce Living Care Protection and Extended No-Lapse Guarantee
2006年9月11日 - 10:58PM
PRニュース・ワイアー (英語)
Living Care Rider Helps Protect Against High Costs of Long-Term
Care NEW YORK, Sept. 11 /PRNewswire-FirstCall/ -- AXA Equitable
Life Insurance Company and affiliate MONY Life Insurance Company of
America introduced, in states where approved, two additions to its
Incentive Life(SM) (IL) variable life insurance series -- a Living
Care Rider (LCR) to help safeguard retirement assets from the high
costs of long-term care and a new flexible premium product with an
Extended No-Lapse Guarantee -- IL(SM) Legacy. "What we're
offering," said Barbara Goodstein, EVP, who made the announcement,
"is innovative ways to help consumers protect their finances and
way of life." Available for a fee to people between the ages of 20
and 70 purchasing the AXA Equitable IL Legacy and IL '06 variable
life products, the Living Care Rider functions as an acceleration
of the life insurance policy's death benefit to assist those who
become chronically ill and receive qualified long- term care
services. When electing the LCR, the policyowner chooses from a
certain benefit percentage of the policy's face amount, reflecting
the maximum monthly payments to be received if he or she becomes
chronically ill. If You Don't Use It, You Don't Lose It "Long-term
care insurance can require expensive premiums, even if it's never
used," says Goodstein. "Our Incentive Life/Living Care Rider
combination offers an affordable, hybrid solution to the 'use it or
lose it' dilemma." Should the need arise, the Living Care Rider
accelerates the life insurance death benefit, defraying the burden
of LTC expenses and protecting retirement assets from being
depleted. The death benefit is reduced by the amount accelerated.
But, if long-term care is never needed, the full death benefit is
paid to the beneficiaries. IL(SM) Legacy -- Guaranteed Protection
with Upside Potential Available at issue in states where it is
approved, IL(SM) Legacy's optional Extended No-Lapse Guarantee
(ENLG) Rider ensures, for an additional cost, this flexible premium
variable life insurance policy will not lapse for a specified
period, regardless of investment performance. "At very competitive
premium levels," Goodstein said, "the ENLG eliminates policy lapse
risk and extends coverage out for as long as age 100." Because
coverage needs vary and may change over time, IL(SM) Legacy offers
additional flexibility, including the option to select within
limits the amount and timing of premium payments, the flexibility
to increase or decrease the policy face amount after the first year
(evidence of insurability and surrender charges apply), the ability
to customize and change investment options to meet needs and goals,
and the choice of two death benefit options. (Transferring assets
among investment options is tax-free. Some restrictions apply and
exercising some of this flexibility may impact the ENLG or Living
Care Rider. The ENLG period of coverage cannot be changed after the
policy is issued and there are some investment option limitations
and other restrictions. Consult the prospectus for full details,
including ENLG requirements and restrictions.). -- Complete terms,
conditions and costs of the Incentive Life(SM) Legacy, Extended
No-Lapse Guarantee and Incentive Life(SM) Living Care Rider are
contained in the respective product prospectuses. Variable life
insurance cash values are not guaranteed and will fluctuate based
on the performance of underlying investment options. Fee and
charges associated with variable life insurance include mortality
and expense risk charges, cost of insurance, surrender charges,
administrative fees, investment management fees and charges for
optional benefits. Loans and partial withdrawals, which may be
subject to policy limitations and income tax, will decrease the
death benefit and cash value and may adversely impact certain
features and benefits of the policies. It is important to
understand that the ENLG will not prevent a policy from lapsing if
the policyowner has a loan outstanding which exceeds the policy's
account value. All guarantees discussed herein are subject to the
claims-paying ability of the issuing companies -- AXA Equitable
Life Insurance Company or MONY Life Insurance Company of America, a
subsidiary of AXA Financial, Inc. Incentive Life is a service mark
of AXA Equitable Life Insurance Company. Please consider the
charges, risks, expenses and investment objectives of the Incentive
Life(SM) series of variable life insurance and respective riders
carefully before investing. For a prospectus containing this and
other information, please call AXA Equitable at 212-314-4600. Read
it carefully before you invest or send money. Part of the Global
AXA Group AXA Equitable Life Insurance Company and MONY Life
Insurance Company of America (MLOA) are life insurance subsidiaries
of AXA Financial, Inc., providing life insurance, annuities and
other needs-based products and services for the financial services
market, co-distributed by AXA Advisors, LLC, and AXA Distributors,
LLC, New York, NY 10104. AXA Financial is one of the premier U.S.
organizations providing financial protection and wealth management
through its subsidiaries, and had approximately $693.7 billion in
assets under management as of June 30, 2006. AXA Financial is a
member of the global AXA Group, which had $1.39 trillion in assets
under management as of June 30, 2006. All guarantees are based on
the claims-paying ability of the issuing company, AXA Equitable
Life Insurance Company (AXA Equitable) or MLOA. DATASOURCE: AXA
Equitable CONTACT: Lisa Tibbitts, +1-212-314-2811, , or Discretion
Winter, +1-212-314-2968, , both of AXA Equitable Web site:
http://www.equitable.com/
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