AXA Equitable introduced today a new series of term life insurance products. The five-product Term Series(SM) includes redesigned 10-, 20- and 30-year level-term products, a new 15-year level-term product, and a redesigned annual renewable term (ART) product. The series introduces a new underwriting class for consumers with minor health issues and long conversion periods that allow clients to switch to permanent life insurance coverage.

"AXA Equitable's Term Series(SM) is designed to competitively meet the varying financial needs of consumers in different life stages," says Barbara Goodstein, AXA Equitable Executive Vice President, Marketing and Product Development. "That includes younger people who do not currently have the discretionary income to buy permanent cash-value life insurance, but need life insurance protection now."

Convertibility

The Term Series(SM) introduces long conversion periods that allow clients to switch to permanent coverage during the policy term, without furnishing additional evidence of insurability. As long as there are no changes to the policy, no medical examinations or blood tests are required for conversion from term to permanent. "Term insurance," says Goodstein, "offers pure insurance protection at affordable rates. As families and/or businesses grow, however, it may make sense to 'move up' to permanent life insurance, which offers lifelong protection and the ability to potentially build cash value to help meet financial goals."

Goodstein added, "When they're ready, our new Term Series(SM) makes it easier for clients to convert to permanent life insurance." Unlike some term products that only give policyholders a few years to make up their minds, AXA Equitable's conversion privilege is available for the first 8, 10, 15 and 20 years for the 10-, 15-, 20- and 30-year Level Term products, respectively, but not beyond the policy anniversary nearest the insured's 70th birthday. The AXA Equitable ART policy is convertible anytime up to the policy anniversary nearest the insured's 70th birthday. Term Series(SM) products have a guaranteed conversion credit -- available while the policy is convertible -- that reduces the first year premium on the permanent policy.

Accessibility

Just below "Standard," the new Class B underwriting classification makes the series more affordable to consumers with minor health issues. "With Class B underwriting, we're expanding affordable protection to a whole new segment of consumers," says Goodstein. Other underwriting classes include Preferred Elite and Preferred Plus for non-tobacco users, and Preferred, Standard and B, C and D substandard classes for both non-tobacco and tobacco users. The minimum face amount under the Preferred Elite and Preferred Plus underwriting classes is $250,000 for all plans. The minimum for Term 10, Term 15 and Term 20 under the underwriting classes is also $250,000. The minimum for the ART and Term 30 products is $100,000.

Flexibility

Also new to the series is a 15-year Level-Term product. "The addition of the 15-year Level Term product offers consumers more options and greater flexibility," says Goodstein. "Having four different periods to choose from is ideal for "laddering" coverage to accommodate a variety of life events. For example, a couple both 40 years old with children ages 11 and 14 might both purchase $250,000 10-year Level Term policies. At the same time, they might purchase a $500,000 20-year Level Term policy for the husband and $250,000 20-year Level Term for the wife. Then, when their oldest child is 21 and self- supporting, they might drop the 10-year policies."

About AXA Equitable 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 lifetime in the event of terminal illness. (The Living Benefits Rider is not available in New Jersey, Massachusetts and Washington.) Variations by state may apply to the AXA Equitable Term Series(SM).

About AXA Equitable

AXA Equitable Life Insurance Company is the principal life insurance subsidiary 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. AXA Financial is one of the premier U.S. organizations providing financial protection and wealth management, and had approximately $643.4 billion in assets under management as of December 31, 2005. AXA Financial is a member of the global AXA Group, which had $1.3 trillion in assets under management as of December 31, 2006. All guarantees are based on the claims-paying ability of AXA Equitable Life Insurance Company headquartered in New York, NY (AXA Equitable).

_______________________________________________________________

Source: AXA Equitable

Copyright © 2007 PR Newswire. All rights reserved.

Copyright © 2007 Yahoo! Inc. All rights reserved.