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.