Accumulator
Common Questions
Topics
- How can I obtain information online thru AXA-Equitable.com?
Online account access through AXA-Equitable.com
provides a consolidated view of your life and annuity contracts, 24 hours, 7 days a week. Click the customer login to:- Check Account Details
- Plan type, ownership and account value
- Total contributions
- Investment option balances, investment allocation and daily fund prices
- Manage Your Portfolios
- Transfer amounts among investment options
- Change the investment allocation for future contributions
- Sign up for electronic delivery of statements
- Review Investment Performance
- Annualized year to date, 1 year, since inception, and where available, 3, 5, and 10 year performance
- Investment objectives, strategy, portfolio composition and top 10 holdings for all options
- Read the most recent Quarterly Portfolio Highlights
- Click the 'Customer Service' tab to:
- Change your address online
- Find answers to frequently asked questions about your annuity contract
- Print service forms
You must be registered on AXA-Equitable.com for the online services listed above. During registration, you will be asked to accept our Online Services Agreement. The use of AXA-Equitable.com is only available on the terms and conditions set forth in the agreement.
Please note that not all ACCUMULATOR® contracts are the same and may have different features or provisions depending on the type of contract, state of issue and date of purchase. Please refer to your Contract or Prospectus for detailed information or call your Financial Professional or a Customer Service Representative at 1-800-789-7771.
- How can I obtain information through the Telephone Operated Program Support (TOPS)?
You can obtain account information, account values, daily unit values, make transfers among investment options and change allocations for future contributions by calling 1-888-909-7770, 24 hours a day, 7 days a week. A Personal Identification Number (PIN) is required to transfer amounts or change allocations. If you do not have a PIN or do not remember the 5-digit number, please complete and mail to our Processing Office a TOPS enrollment form which you can print by clicking here.
How can I enroll in TOPS?
Print an enrollment form, complete, sign and return to our Processing Office.How can I find out what my TOPS PIN is?
For your security, we are not able to give you a PIN number over the phone. To obtain a new PIN, please complete and mail to our Processing Office a TOPS enrollment form which you can print by clicking here. Or, you may call Customer Service at 1-800-789-7771, Monday through Friday from 8:30 a.m. to 5:30 p.m. ET. A representative will send you an application for a new PIN.How does AXA-Equitable.com compare to TOPS?
In terms of functionality, the main difference between the two systems is that AXA-Equitable.com provides access to investment performance. You can view performance - annualized year to date, 1 year, since inception, and where available, 3, 5 and 10 year - and review objectives, strategy, portfolio composition and top 10 holdings for all fund options.
- What information will be mailed to me?
You will receive a confirmation notice every time there is a financial transaction in your account; these include any additional contributions you make to your contract, money transfers and other transactions. You will receive a Statement of Account, which provides investment performance information and current annuity values by investment option, for any quarter in which there was a financial transaction under your contract, and for the final quarter of the year. You will also receive an Annual Statement, showing your annuity balance, that is sent shortly after the annual anniversary date of your ACCUMULATOR® contract.Now, you can request that this information (with the exception of your Annual Statement) be delivered electronically and stop receiving paper copies of these documents through the US Mail. Register in AXA-Equitable.com, select the Your Documents tab and click on Enroll in Electronic Delivery on the left-hand navigation bar.
- How can I change the address on my annuity contract?
To change your address for an annuity contract you can:- Login or Register on AXA-Equitable.com
- Click here for a printable form
- Where can I mail service requests?
For regular mail:AXA Equitable
P.O. Box 1547
Secaucus, NJ 07096-1547For express mail:
AXA Equitable
500 Plaza Drive, 6th Floor
Secaucus, NJ 07094
- Where can I mail a contribution?
To ensure that payments are processed as quickly as possible, use the address listed on the Contribution Statement. ACCUMULATOR® addresses are as follows:For regular mail:
AXA Equitable
P.O. Box 1577
Secaucus, NJ 07096-1577For express mail:
AXA Equitable
500 Plaza Drive, 6th Floor
Secaucus, NJ 07094
- Where can I mail a loan payment?
To ensure that payments are processed as quickly as possible, use the address listed on the Billing Statement. ACCUMULATOR® addresses are as follows:AXA Equitable
P.O. Box 1577
Secaucus, NJ 07096-1577
- How can I obtain investment information on my ACCUMULATOR® variable annuity contract?
AXA-Equitable.com, your online information source for the status and current values of your AXA Equitable life and annuity contracts, does provide you with the most recent closing price for all the investment portfolios you have available to you.
- How is the value of the investment options determined?
Amounts that you allocate under your variable annuity contract to any of the investment options are invested in a corresponding "Portfolio" that is part of EQ Advisors Trust or the VIP Trust. The value of your variable investment option is measured in "units".Each unit has a "unit value". While the unit value relates to the net asset value of the shares of the corresponding portfolio, there is not a one-to-one correlation in the dollar amount. For example, if at the time of the portfolio's inception the net asset value of the portfolio was $10.00 per share, the unit value of the corresponding investment option may actually have been $100.00 per unit. If the portfolio's net asset value grew to $11.00 per share the next day, the unit value of the corresponding variable investment option would have increased proportionately, but not by the exact same dollar amount.
The value of each unit will increase or decrease each day and reflect all reinvested dividends and distributions from the corresponding Portfolio. The daily unit value calculation will also take into account the deduction of any mortality and expense risk charges that apply under your contract/policy.
The number of your units in any variable investment option does not change, unless there is an event or transaction under your contract/policy that involves moving assets into or out of that option. Whenever any amount is withdrawn or deducted from one of your contract/policy's variable investment options, we "redeem" the number of units that has a value equal to that amount, on the effective date of the redemption. This happens, for example, when all or a portion of monthly deductions and transaction-based charges are allocated to that option, or when loans, transfers, withdrawals and surrenders are made from that option.
Your investment results in a variable investment option will depend on those of the related Portfolio. Any gains will generally be tax deferred.
Daily Unit Values are available online, for most variable life and annuity contracts, through AXA-Equitable.com. Login or Register to access daily unit values.
- Why does the rate of return for the same investment option differ, between different variable annuity contracts?
Annualized rates of return may differ between different variable annuity contracts for the same investment option because the fees and expenses associated with the particular investment option are different under the two products. Check your policy/contract prospectus for detail on the fees and expenses of the investment portfolios.Note that Annualized Rates of Return are not representative of the actual return you would receive under your policy. Changes in policy values depend not only on the investment performance of the various options, but also on applicable insurance and administrative charges, applicable sales charges and the mortality and expense risk charges that are deducted. Premiums or contributions made to your policy, as well as any loans or withdrawals, will also affect its values.
- How can I transfer funds?
If you are the contract owner, you may transfer amounts between investment options by:- performing the investment option transfer on-line, using AXA-Equitable.com. Login or Register or
- calling TOPS at 1-888-909-7770 to execute a transfer.
Please note that you will need a PIN to process a transfer. If you do not have a PIN or do not remember the 5-digit number, please complete and mail to our Processing Office a TOPS enrollment form which you can print by clicking here.
- How can I change allocations?
If you are the contract owner, you may change your investment allocation by:- performing the change on-line, using AXA-Equitable.com. Login or Register or
- calling TOPS at 1-888-909-7770 to execute a transfer.
Please note that you will need a PIN to process a change. If you do not have a PIN or do not remember the 5-digit number, please complete and mail to our Processing Office a TOPS enrollment form which you can print by clicking here.
- How can I check daily unit prices?
Daily unit prices can be obtained:- Online, through AXA-Equitable.com. From the Portfolio Summary screen, click on the contract number to view unit prices and account details.
- By calling TOPS, our toll-free automated system at 1-888-909-7770 - press option 1 and select "daily unit values" to hear unit prices for the investment options available under your contract.
- Why does "Unit Value" show as NA in AXA-Equitable.com?
Due to a technical problem, the mainframe is currently unable to retrieve the value of units in that fund. This is only a temporary problem and you should try again later.
- Can I check the investment options in mutual fund listings?
The investment options available to you through your AXA Equitable variable annuity contract are not publicly traded funds and do not appear in the mutual fund listings that are published in many daily newspapers.Barron's, a financial weekly newspaper, does include a listing for variable annuities and life accounts in its "Market Week" section. The unit price, four-week percent total return and a 52- week percent total return is reported (as of a specified date) for the investment portfolios available for selected AXA Equitable variable annuities.
The Wall Street Journal, every Monday, lists Variable Annuities in the "Money and Investing" section (Section C). Look for "AXA Equitable Life Insurance Company".
- Can I download values into Quicken®?
Programs like Quicken® and Microsoft® Money use ticker symbols of publicly traded stocks and retail mutual funds to gather their data. Neither your AXA Equitable contracts nor the funds that back them are retail mutual funds and therefore do not have ticker symbols. The investment portfolios that you have access to within your policy or contract do not have ticker symbols, so you won't be able to look them up on mutual fund sites to determine their most current price.AXA-Equitable.com, your online information source for the status and current values of your AXA Equitable life and annuity contracts, does provide you with the most recent closing price for all the investment portfolios you have available to you. In addition, online access also displays monthly and quarterly annualized rates of return for the portfolios available within our variable life and annuity contracts.
Please remember that while several of your variable investment options do indeed have substantially similar investment strategies and policies of publicly traded mutual funds, they are subject to different management fees and expenses. Furthermore, the actual performance under your individual policy or contract reflects insurance-related charges, which would not apply in a typical mutual fund. In general, you should be aware of the differences when comparing performance of mutual funds and their variable annuity or variable life counterpart portfolios. Major factors that can contribute to these differences include:
- the portfolio's underlying fee structure (management and administrative expenses),
- insurance and contract related charges in addition to management expenses (not applicable to mutual funds)
- the timing of the portfolio's purchase and sale of securities; differences in cash flows (new sales and redemptions); and, other strategies employed by the fund manager for tax purposes (not applicable to variable portfolios given their tax-deferred status)
- Why do unit values for the same investment option differ between different variable annuity contracts?
Unit values for the same investment option under different variable products may differ because:- The types or level of charges deducted before the unit value is calculated may differ by product. Check your policy/contract prospectus for detail on charges for the particular product.
- The policies/contracts were introduced in different years and a new set of unit prices was established.
Note that although the two products may have different unit values for the same investment option, the annualized rates of return for the products may in fact be the same. You can access performance/rate of return information from the Portfolio Summary screen of AXA-Equitable.com.
- Can I borrow the value of my annuity contract?
Loans may be available from a Tax Sheltered Annuity (TSA). Please be aware that you can only have one outstanding loan on your contract. Please contact a Customer Service Representative at 1-800-789-7771 to verify whether your contract allows loans.Please note that if you currently have an active loan balance, the loan principal quote in AXA-Equitable.com does not reflect interest due since the last loan payment due date. Please contact a Customer Service Representative for this information.
- Do I need spousal consent to borrow?
This only applies to certain plans. For TSA plans subject to the Employee Retirement Income Security Act of 1974 (ERISA), the spouse's consent is required for any payment other than in the form of a Qualified Joint and Survivor life annuity.Spousal Consent is required for loans, withdrawals or surrenders, as the spouse is entitled to benefits under the retirement plan according to the Retirement Equity Act of 1984 (REA).
- How do I make a withdrawal from my annuity contract?
Please contact a Customer Service Representative at 1-800-789-7771 Monday through Friday from 8:30 AM to 5:30 PM ET to get the correct form(s) needed to execute a withdrawal.There may be limits on your ability to take a withdrawal from certain retirement plans. Also, there may be tax consequences and charges associated making a withdrawal.
- How is the free corridor determined on a withdrawal?
The free corridor amount is 10% or 15% of the Annuity Account Value at the beginning of the contract year, minus any amount previously withdrawn during that contract year.Any withdrawal amount that exceeds the free corridor amount will be subject to a Contingent Withdrawal Charge (CWC). A contract year is the 12-month period beginning on either the contract date or each anniversary of the date. The contract year is called "Participation Year" in the group contracts. Please refer to your Contract or ACCUMULATOR® Prospectus for more information or call a Customer Service Representative at 1-800-789-7771.
- Are there tax consequences for withdrawing funds from my contract?
Depending on the type of contract you have, your age and other individual circumstances, a withdrawal could disqualify your contract from special tax treatment, be taxable and/or subject to tax penalties. AXA Equitable offers many different tax-deferred products, such as Tax Sheltered Annuities (TSA), IRAs and non-qualified annuities. We do not give tax and legal advice. We suggest that you contact a tax advisor to review your particular circumstances.
- Will taxes be withheld on a withdrawal?
It depends on the type of contract and other factors.- Distributions that are subject to 10% Federal Income tax withholding are:
- Minimum Distributions from TSAs and Qualified Plans
- Other Distributions from TSAs and Qualified Plans, which are not eligible rollover distributions such as a death benefit to non-spouse
- Non-periodic distributions from all forms of IRAs - unless you are eligible to and ask us not to withhold on your Request for Disbursement
- The taxable amount of non-periodic distributions from Non-Qualified annuities unless you are eligible to and ask us not to withhold on your Request for Disbursement
- Distributions that are subject to 20% Federal Income Tax withholding are:
- Eligible rollover distributions from TSAs, Annuitant-Owned Keogh/HR-10 contracts or other Qualified Retirement plans (including non-transferable Annuities) paid to you and not rolled over.
Distributions to Foreign Nationals are subject to 30% Federal Income Tax withholding unless the payment is eligible for a lower tax treaty rate and the recipient properly documents eligibility before the disbursement is processed.
AXA Equitable and its affiliates do not provide tax or legal advice. Please consult your tax and/or legal advisor for such guidance.
- Do I need spousal consent for a withdrawal?
This only applies to certain plans. For TSA plans subject to the Employee Retirement Income Security Act of 1974 (ERISA), the spouse's consent is required for any payment other than in the form of a Qualified Joint and Survivor life annuity.Spousal Consent is required for loans, withdrawals or surrenders, as the spouse is entitled to benefits under the retirement plan according to the Retirement Equity Act of 1984 (REA).
- How has the calculation of the required minimum distribution amount changed?
Treasury Regulations significantly simplified the "account-based" method of calculating the minimum required distribution amount.Among other things, the regulations provide the use of a single life expectancy table based solely on the life of the participant for most situations when the participant reaches his or her required beginning date. The only exception is when the sole primary beneficiary is a spouse who is more than ten years younger than the participant. In this situation the Joint Life and Last Survivor Expectancy table may be used.
The individuals who are required to take minimum distributions will most likely be able to take SMaller amounts from their account each year, allowing more of their assets the potential to grow. The RMD amount and tax savings, if any, will depend on the age and value of the participant's retirement account.
A participant does not have to choose whether to recalculate or not to recalculate. The factor to use in dividing the account value will depend upon the individual's age as of the year of the distribution.
A person can change his/her beneficiary after age 701/2 without affecting his/her RMD.
- Can a RMD election be changed based on the new rules?
Yes, the Proposed Treasury Regulations permit participants to change from a previously irrevocable RMD method to a new method.
- Will participants still be required to take annual RMDs?
Yes. Participants will still be required to take annual RMDs starting on their required beginning date which remains unchanged.
- If a participant has multiple IRAs can RMDs still be taken from one IRA custodian?
Yes.
- If a participant has multiple TSAs can RMDs be taken from one?
Yes.
- Can distributions be taken from an IRA to satisfy all IRA/TSA requirements?
No. Separate calculation is required for IRAs and TSAs.
- What are the choices available for 2009 distributions?
The "Worker, Retiree, and Employer Recovery Act of 2008" has temporarily suspended the requirement to take account-based required minimum distribution withdrawals for calendar year 2009. This one-year RMD suspension does not stop you from taking money from your contract. You can still enroll in AXA Equitable's "Automatic Required Minimum Distribution (RMD) Withdrawal Service" in 2009. If you enroll, in December 2009, we will distribute the amount which would have been your RMD withdrawal for 2009. If you want to enroll in 2009 and ask us to wait to make any distribution until 2010, please fill out the "Automatic Required Minimum Distribution (RMD) Withdrawal Service" enrollment form.
- How can I change the beneficiary on my annuity contract?
The beneficiary can be changed at the written request of the contract owner. Click here to print a request form and instructions. After completing and signing, return to us at the address noted on the form.
- Is spousal consent required to change a beneficiary?
This only applies to certain plans. For TSA plans subject to the Employee Retirement Income Security Act of 1974 (ERISA), the spouse's consent is required for any payment other than in the form of a Qualified Joint and Survivor life annuity.If a participant were naming someone other than his/her spouse as the beneficiary of a contract that is subject to ERISA, he/she would need to have his/her spouse's signature as well as his/her own. The spouse would be agreeing to have someone other than himself or herself assigned as the beneficiary, and would need to have their signature notarized. By their signature they are agreeing to forfeit their entitlement to the benefits of the contract. If the participant is not married, they would need to state that on the beneficiary request form and have their signature notarized.
Spousal Consent is required for loans, withdrawals or surrenders, as the spouse is entitled to benefits under the retirement plan according to the Retirement Equity Act of 1984 (REA).
- How is the minimum death benefit determined?
The ACCUMULATOR® product has a variety of minimum death benefit features. Please refer to your ACCUMULATOR® Prospectus for additional information regarding this feature or call a Customer Service representative at 1-800-789-7771.
- What documentation is required for a death claim?
A valid death claim generally requires the following, which should be mailed to the ACCUMULATOR® Administration Office, P.O. Box 1547, Secaucus, NJ 07096:- A certified copy of the death certificate from the issuing authority that bears the official raised seal or colored stamp
- All AXA Equitable annuity contracts
- A completed "Claimant Statement" form submitted by all claimants
- A completed "Special Payments Plan Election" form, if applicable
- For contracts issued in New York and Ohio: State Inheritance Tax Waiver, if applicable
Foreign, Non-Individual and Minor Beneficiaries have additional requirements, please contact your Financial Professional or call a Customer Service Representative at 1-800-789-7771.
- Can a contract continue upon the death of the annuitant?
For certain IRA and Non-Qualified (NQ) markets, when the annuitant and owner are one and the same, the annuitant/owner can elect to establish the Successor Annuitant and Owner feature. This feature can only be elected when the spouse is also the sole beneficiary. When the original annuitant/owner dies, the surviving spouse continues the contract as successor annuitant/owner. The annuitant/owner may elect this feature at the time the contract is issued, or the spousal beneficiary may elect it after the death of the annuitant/owner. This feature is subject to state availability.
- What is the minimum income benefit?
If you choose to annuitize the contract and you choose the base BUILDERSM option, your minimum income benefit will be the greater of the:- Then current annuity account value, applied to the then current annuity purchase rates, or
- Guaranteed Minimum Income Benefit base applied to the minimum guaranteed annuity purchase rates as shown in your contract.
To discuss the benefits of annuitization, contact your Financial Professional.
- What is a Roth IRA?
A Roth IRA is a special "after-tax" IRA that was established under the Taxpayer Relief Act of 1997.
- Who is eligible to set up a Roth IRA?
There are two ways you can contribute: either by regular contributions or rollovers from another Roth or a Traditional IRA. Unlike Traditional IRAs, you may contribute past age 70 1/2 as long as you are receiving compensation.Single filers with a maximum earned income of $95,000 and married filers filing jointly with a maximum earned income of $150,000 can contribute up to $3,000. If a single filer has earned income between 95,000 and $110,000 and a joint filer has an earned income between $150,000 and $160,000, they may contribute an amount less than $2,000.
- What are the contribution limits?
Generally, $3,000 is the maximum amount, which may be contributed annually to all Roth IRAs maintained by an individual in any taxable year. This limit may be less when the individual's earnings are below $3,000. The $3,000 annual limit does not apply to a rollover or a direct transfer into a Roth IRA.Beginning in 2002, contractholders over age 50 may be eligible to make "catch-up" contributions.Year Contribution Limit for all IRAs 2002 - 2004 $3,000 2005 - 2007 $4,000 2008 and later $5,000
(indexed in $500 increments)You cannot make conversion contributions if your adjusted gross income is more than $100,000 in any year.
You should contact your CPA/Tax Advisor for the specific amount that you are allowed to contribute and to find out about the special tax rules concerning converting Traditional IRAs to Roth IRAs.
- When must the contribution be made?
The contribution for a given tax year must be made by April 15th of the following year, excluding extensions. A conversion must take place by 12/31 (year-end).
- Is the contribution deductible by the taxpayer?
No.
- How do I open a Roth?
To open a Roth you must see your Financial Professional and complete an application.
- Can I convert to a Roth?
You may convert your Traditional IRA or QP-IRA to a Roth IRA. This can either be a full or partial conversion. The conversion is taxable in the year in which the conversion takes place.
- Can I rollover a TSA into a Roth IRA?
No, you must rollover a TSA into a Traditional IRA first, if you are eligible. Then you would convert the Traditional IRA into a Roth IRA. Check with your Financial Professional to see if you are eligible to roll your TSA into a Traditional IRA and to complete all application and enrollment forms.
- How can I locate the phone number of my Financial Professional?
Online, through AXA-Equitable.com, choose Account Details from the Portfolio Summary page. Your Financial Professional's phone number is provided at the bottom.
- What is a Required Minimum Distribution?
Federal Income Tax Rules generally require that you start taking lifetime "Required Minimum Distributions" of your retirement benefits (including amounts held in qualified plans, traditional IRAs, SEPs/SARSEPs, SIMPLE IRAs, TSAs and EDCs) the year you attain age 70 1/2 and annually thereafter.You may elect our Automatic Withdrawal Option, under which we will calculate and pay your lifetime required minimum distribution from your annuity contract automatically each year. Please refer to your policy prospectus and the Terms and Conditions on the form for questions that may apply to your specific product.
If you do not withdraw your minimum distribution each year, you may be subject to a federal penalty tax of 50% on the difference between what you received from your retirement program and what you are required to receive under the minimum distribution rules.
Contact your AXA Advisors financial professional to discuss your plans for beginning your minimum distributions,or contact a Customer Service Representative at 1-800-789-7771 for more information.
