Athena Indexed Universal Life from AXA-Equitable

Universal Life Insurance : Athena Indexed Universal Life

Permanent Life Insurance Protection with Potential for Cash Value Accumulation

Athena Indexed Universal LifeSM is flexible premium universal life insurance that offers interest crediting linked to major market indexes, so you can participate in the upside potential of the equities markets with built-in guaranteed downside protection against declines in the value of the applicable index.

When you invest in one of the indexed account options, you receive a crediting rate based on the performance of the index, subject to certain caps, participation rates, and floors. The floor will be 0% in all years and the cap and participation rate will be established at the beginning of a segment.

At issue or any time after, you can decide where to allocate your premiums to – any of the indexed options described below or the Guaranteed Interest Account. Also, you can select allocations for amounts that mature from each indexed option.

All guarantees are based on the claims-paying ability of AXA Equitable.

Four Index-Linked Interest Options* and the Guaranteed Interest Account

Index-Linked Interest Options*

A varied selection of point-to-point indexed accounts to help meet your short- and long-term accumulation goals.

One-Year Options:

S&P 500 Price Return index — U.S. Large-Cap Index

Russell 2000 Price Return index — U.S. Small-Cap Index

MSCI EAFE Price Return index — International Index

Three-Year Option: (not available in NY)

S&P 500 Price Return index — U.S. Large-Cap Index

Guaranteed Interest Account

The interest rate AXA Equitable credits to the Policy Account Value is declared periodically. The guaranteed minimum interest rate is 2% annually.

Premium Flexibility

Design premium payments according to your budget.

Choose the amount and frequency of your premium payments (certain limits apply). Increased frequency in premium payments is more expensive.

Pay premiums annually, semiannually, quarterly, monthly, or through automatic monthly or quarterly deductions from your checking account.

Allocate premiums to the index-linked interest options or the Guaranteed Interest Account. These allocations can be selected at issue and changed at any time, but you cannot transfer premiums out of a Segment after that Segment has begun.

Premium payments will not be accepted while the Loan Extension Endorsement is keeping the policy in force.

Access to Cash Values Your cash value can grow tax-deferred.

You can access your cash value, through loans and withdrawals, potentially free of current income tax.

The cash surrender value equals the Policy Account Value less applicable surrender charges during a surrender charge period, and the Policy Account Value thereafter. The net cash surrender value is equal to the cash surrender value minus any outstanding policy loans and accrued loan interest.

Death Benefit Options

Two Death Benefit Options

Option A: Level Death Benefit — The Face Amount of the policy.

Option B: Variable Death Benefit — The Face Amount plus the Policy Account Value. Under either option, a higher death benefit may apply if the value in the policy account reaches certain levels relative to the Face Amount.

You can switch from Death Benefit Option A to B and from B to A. Changes in the death benefit option are available at no charge after the second policy year.4

Choice of Riders5 Depending on your current or anticipated future needs, you can tailor your Athena Indexed Universal Life SM policy by taking advantage of a selection of policy riders that are available for an additional cost.

More Options, But Fewer Guarantees

Advantages of Universal Life Insurance

Potentially lower initial premium compared to Whole Life Insurance

Potential availability of a No Lapse Guarantee

You can generally determine the amount and timing of premium payments, within certain limits

You can generally increase or decrease the Face Amount. Note: Increases may require evidence of insurability and decreases may result in the imposition of pro rata surrender charges.

Disadvantages of Universal Life Insurance

Fewer guarantees than Whole Life Insurance

Skipping payments can lead to policy funding problems

Adding guaranteed features, like a No Lapse Guarantee, can increase the cost of Universal Life

Growth in cash value in the policy is limited

No investment flexibility

A decrease in the death benefit amount may result in the imposition of pro rata surrender charges

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