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"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 (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.
SOURCE AXA Equitable
http://www.axa-equitable.com
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