Retirement Products and Services |
Retirement CornerstoneSM
This page highlights some of the features and benefits of this product. For more complete details, please download the full prospectus, above.
- Planning
Your Future - Long-Term
Accumulation Account - Guaranteed
Benefit Account - Optional
Benefits - Next
Steps
Introducing Retirement CornerstoneSM |
Retirement CornerstoneSM is AXA Equitable’s innovative response to today’s challenges. The typical retirement period is now generally considered to be longer than at any time in history and the price of health care and other services of concern to retirees continues to climb. As a result, today’s retirees and pre-retirees have a greater need than ever to tap into the wealth-building power of the stock market. However, the stock market’s recent turbulence continues to spark fears of ongoing volatility among investors everywhere. What’s more, there is uncertainty over where tax rates are headed, as well as concern for the future of Social Security. Against this backdrop, AXA Equitable has called upon its unique perspective and expertise as a leader in financial protection for over 150 years to respond to the retirement needs of Americans in today’s changing financial landscape. The result is Retirement Cornerstone – a variable annuity developed to help meet the challenges of planning and saving for retirement. Retirement Cornerstone’s combination of investment and income protection features are designed to help you:
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What is a variable deferred annuity? |
A variable deferred annuity is a long-term product designed to deal with retirement financial issues. Simply stated, an annuity is a contract between you and an insurance company that lets you pursue the accumulation of assets through stock (equity) and other investment portfolios, and then receive lifetime payments during the distribution phase of the contract. |
Important Information
Certain features available with the Retirement CornerstoneSM variable annuity, including enhanced death benefits, are optional and entail an additional cost; you do not have to elect these optional features in order to purchase a Retirement CornerstoneSM contract. Also, the IRS requires the owner of an IRA or Qualified Plan annuity contract to include the actuarial present value of certain optional benefits (which may include some of these Retirement CornerstoneSM optional features) in the calculation of lifetime Required Minimum Distribution payments. Withdrawals from an annuity contract are taxable as ordinary income, not as capital gain and, if made prior to age 59½, may be subject to an additional 10% federal income tax penalty. Withdrawals may also be subject to surrender charges. Withdrawals may reduce the death benefit, living benefit and cash surrender value. For tax purposes, withdrawals will come from any gain in the contract first.
AXA Equitable may discontinue contributions and transfers among investment options or make other changes in contribution and transfer requirements and limitations. If we discontinue contributions and transfers into the Guaranteed Benefit Account, you will no longer be able to create a Benefit Base or actively increase the benefit(s).
Market Risk
This brochure is not a complete description of all material provisions of the Retirement CornerstoneSM variable annuity contract. This brochure must be preceded or accompanied by a current Retirement CornerstoneSM Series prospectus and any applicable supplements. The prospectus contains more complete information, including investment objectives, risks, charges, expenses, limitations and restrictions. Please read the prospectus and any applicable supplements, and consider this information carefully before purchasing a contract.
There are fees and charges associated with the Retirement CornerstoneSM contract, which include, but are not limited to, mortality and expense risk charges, sales and withdrawal charges, administrative fees, and additional charges for optional benefits. The contingent withdrawal charge declines from 7% over a seven-year period for the Series B product. Please see the prospectus for the withdrawal charge scale for other annuities in the Retirement CornerstoneSM Series. Amounts in the annuity’s variable investment portfolios are subject to fluctuation in value and market risk, including loss of principal. For costs and complete details of coverage, speak to your financial professional. Certain types of contracts, features and benefits may not be available in all jurisdictions. We offer other variable annuity contracts with different fees, charges and features. Not every contract is available through the same selling broker/dealer.
You can contact us at (212) 554-1234 to find out the availability of other contracts.
AXA Equitable Life Insurance Company, through its AXA Funds Management Group (AXA FMG), serves as investment manager of the AXA Strategic Allocation Portfolios. AXA Equitable is solely responsible for the asset allocation decisions made on behalf of each portfolio, and for the selection and allocation of assets to underlying funds.
This website was prepared to support the promotion and marketing of AXA Equitable variable annuities. AXA Equitable, its distributors and their respective representatives do not provide tax, accounting or legal advice. Any tax statements contained herein were not intended or written to be used, and cannot be used, for the purpose of avoiding U.S. federal, state or local tax penalties. Please consult your financial professional as to any tax, accounting or legal statements made herein.
Call your financial professional or visit our Web site at www.axa-equitable.com Guarantees described herein are subject to the claims-paying ability of AXA Equitable Life Insurance Company. The guarantees do not apply to the investment portfolios. Retirement CornerstoneSM is a service mark of AXA Equitable Life Insurance Company, New York, NY 10104. Retirement CornerstoneSM variable annuities are issued by AXA Equitable Life Insurance Company, New York, NY 10104.
Co-distributed by affiliates AXA Advisors, LLC and AXA Distributors, LLC, New York, NY 10104.
AXA Equitable, AXA Advisors and AXA Distributors do not provide legal or tax advice.
Contract form #s: 2010BASE-A/B, 2010BASE-I-A/B, 2010BASE-I-A(WA) and any state variations
© 2009 AXA Equitable Life Insurance Company. All rights reserved.
1290 Avenue of the Americas, New York, NY 10104, (212) 554-1234
GE 52525(12/09)
Long-Term Accumulation Account |
With the Long-Term Accumulation Account of the Retirement CornerstoneSM variable annuity, AXA Equitable has assembled a wide-ranging investment universe to provide you with greater flexibility and the opportunity for increased diversification. |
The Investment Managers You Know |
The lineup features a broad range of investment portfolios from well-known, well-respected investment management organizations. |
Our Investment Expertise |
AXA Funds Management Group (FMG), a division of AXA Equitable, selects and rigorously monitors the money managers for many portfolios included in the Long-Term Accumulation Account lineup. FMG is ranked 29th among the nation’s 326 largest asset management complexes (Source: Investment Company Institute, January 31, 2010) and currently oversees a complex of over 80 proprietary portfolios, representing over $79.3 billion in assets as of January 31, 2010. |
Sectors and Specialty Portfolios |
While the Long-Term Accumulation Account offers a wide range of portfolios in traditional equity and bond asset classes, it also offers access to other special investment opportunities:
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Index Portfolios |
These portfolios follow a passive management style, where the manager makes few decisions about the portfolio. Instead, the manager attempts to replicate the characteristics, components and performance of an index by selecting all, or a sampling, of that index. |
Hybrid Portfolios |
These portfolios have their assets divided between an “active sleeve” and an “indexed sleeve.” Each sleeve is managed separately by a different management team and in some cases, different subadvisors. Some hybrid portfolios may also invest in a combination of Exchange-Traded Funds (ETFs) for added diversification benefits. |
Transfers to the Guaranteed Benefit Account |
By offering two accounts, Retirement CornerstoneSM gives you the ability to adjust your strategy as your needs change over the years. Investors may find it beneficial to systematically shift money from the Long-Term Accumulation Account into the investment portfolios available in the Guaranteed Benefit Account as they get closer and closer to retirement. (See the next tab for information on the Guaranteed Benefit Account.) |
Important Information
Certain features available with the Retirement CornerstoneSM variable annuity, including enhanced death benefits, are optional and entail an additional cost; you do not have to elect these optional features in order to purchase a Retirement CornerstoneSM contract. Also, the IRS requires the owner of an IRA or Qualified Plan annuity contract to include the actuarial present value of certain optional benefits (which may include some of these Retirement CornerstoneSM optional features) in the calculation of lifetime Required Minimum Distribution payments. Withdrawals from an annuity contract are taxable as ordinary income, not as capital gain and, if made prior to age 59½, may be subject to an additional 10% federal income tax penalty. Withdrawals may also be subject to surrender charges. Withdrawals may reduce the death benefit, living benefit and cash surrender value. For tax purposes, withdrawals will come from any gain in the contract first.
AXA Equitable may discontinue contributions and transfers among investment options or make other changes in contribution and transfer requirements and limitations. If we discontinue contributions and transfers into the Guaranteed Benefit Account, you will no longer be able to create a Benefit Base or actively increase the benefit(s).
Market Risk
This brochure is not a complete description of all material provisions of the Retirement CornerstoneSM variable annuity contract. This brochure must be preceded or accompanied by a current Retirement CornerstoneSM Series prospectus and any applicable supplements. The prospectus contains more complete information, including investment objectives, risks, charges, expenses, limitations and restrictions. Please read the prospectus and any applicable supplements, and consider this information carefully before purchasing a contract.
There are fees and charges associated with the Retirement CornerstoneSM contract, which include, but are not limited to, mortality and expense risk charges, sales and withdrawal charges, administrative fees, and additional charges for optional benefits. The contingent withdrawal charge declines from 7% over a seven-year period for the Series B product. Please see the prospectus for the withdrawal charge scale for other annuities in the Retirement CornerstoneSM Series. Amounts in the annuity’s variable investment portfolios are subject to fluctuation in value and market risk, including loss of principal. For costs and complete details of coverage, speak to your financial professional. Certain types of contracts, features and benefits may not be available in all jurisdictions. We offer other variable annuity contracts with different fees, charges and features. Not every contract is available through the same selling broker/dealer.
You can contact us at (212) 554-1234 to find out the availability of other contracts.
AXA Equitable Life Insurance Company, through its AXA Funds Management Group (AXA FMG), serves as investment manager of the AXA Strategic Allocation Portfolios. AXA Equitable is solely responsible for the asset allocation decisions made on behalf of each portfolio, and for the selection and allocation of assets to underlying funds.
This website was prepared to support the promotion and marketing of AXA Equitable variable annuities. AXA Equitable, its distributors and their respective representatives do not provide tax, accounting or legal advice. Any tax statements contained herein were not intended or written to be used, and cannot be used, for the purpose of avoiding U.S. federal, state or local tax penalties. Please consult your financial professional as to any tax, accounting or legal statements made herein.
Call your financial professional or visit our Web site at www.axa-equitable.com Guarantees described herein are subject to the claims-paying ability of AXA Equitable Life Insurance Company. The guarantees do not apply to the investment portfolios. Retirement CornerstoneSM is a service mark of AXA Equitable Life Insurance Company, New York, NY 10104. Retirement CornerstoneSM variable annuities are issued by AXA Equitable Life Insurance Company, New York, NY 10104.
Co-distributed by affiliates AXA Advisors, LLC and AXA Distributors, LLC, New York, NY 10104.
AXA Equitable, AXA Advisors and AXA Distributors do not provide legal or tax advice.
Contract form #s: 2010BASE-A/B, 2010BASE-I-A/B, 2010BASE-I-A(WA) and any state variations
© 2009 AXA Equitable Life Insurance Company. All rights reserved.
1290 Avenue of the Americas, New York, NY 10104, (212) 554-1234
GE 52525(12/09)
Guaranteed Benefit Account |
Secure your future lifetime income while remaining fully invested and retaining control of your money. With the Guaranteed Benefit Account, you have access to many of the same advantages featured in the Long-Term Accumulation Account: the wealth-building power of tax deferral, the simple convenience of asset allocation portfolios, and the asset management expertise of AXA Funds Management Group. But the Guaranteed Benefit Account also offers some important, unique features of its own. |
Six Focused-Strategy Portfolios |
Your Retirement CornerstoneSM variable annuity is all about investment opportunity. That’s why the Guaranteed Benefit Account offers six focused-strategy portfolios. These building blocks enable investors who take advantage of the Guaranteed Income Benefit or other guaranteed benefits to participate extensively and efficiently in the equity and bond markets. And while these investment portfolios emphasize the moderate and conservative range of the investment risk/reward spectrum, they could also be attractive to more aggressive long-term investors as they approach retirement. |
Customize Your Own Allocation |
You can build your own asset allocation by dividing your Guaranteed Benefit Account value among the six focused strategy portfolios within the prescribed maximum and minimum levels shown below. You can make tax-free transfers between focused-strategy portfolios as long as your overall portfolio continues to meet the required maximum and minimum levels. |
Or, Choose an AXA Strategic Allocation Portfolio |
You may prefer the convenience of selecting an AXA Strategic Allocation Portfolio that reflects your allocation needs. Each AXA Strategic Allocation Portfolio invests in the AXA Tactical Manager portfolios as well as other investment portfolios to meet a set allocation among asset classes. You can work with your financial professional to select the portfolio that matches your personal investing style and volatility tolerance. AXA Equitable will automatically rebalance the Guaranteed Benefit Account value on a quarterly basis, based on the contract year, to maintain its target allocation. |
Important Information
Certain features available with the Retirement CornerstoneSM variable annuity, including enhanced death benefits, are optional and entail an additional cost; you do not have to elect these optional features in order to purchase a Retirement CornerstoneSM contract. Also, the IRS requires the owner of an IRA or Qualified Plan annuity contract to include the actuarial present value of certain optional benefits (which may include some of these Retirement CornerstoneSM optional features) in the calculation of lifetime Required Minimum Distribution payments. Withdrawals from an annuity contract are taxable as ordinary income, not as capital gain and, if made prior to age 59½, may be subject to an additional 10% federal income tax penalty. Withdrawals may also be subject to surrender charges. Withdrawals may reduce the death benefit, living benefit and cash surrender value. For tax purposes, withdrawals will come from any gain in the contract first.
AXA Equitable may discontinue contributions and transfers among investment options or make other changes in contribution and transfer requirements and limitations. If we discontinue contributions and transfers into the Guaranteed Benefit Account, you will no longer be able to create a Benefit Base or actively increase the benefit(s).
Market Risk
This brochure is not a complete description of all material provisions of the Retirement CornerstoneSM variable annuity contract. This brochure must be preceded or accompanied by a current Retirement CornerstoneSM Series prospectus and any applicable supplements. The prospectus contains more complete information, including investment objectives, risks, charges, expenses, limitations and restrictions. Please read the prospectus and any applicable supplements, and consider this information carefully before purchasing a contract.
There are fees and charges associated with the Retirement CornerstoneSM contract, which include, but are not limited to, mortality and expense risk charges, sales and withdrawal charges, administrative fees, and additional charges for optional benefits. The contingent withdrawal charge declines from 7% over a seven-year period for the Series B product. Please see the prospectus for the withdrawal charge scale for other annuities in the Retirement CornerstoneSM Series. Amounts in the annuity’s variable investment portfolios are subject to fluctuation in value and market risk, including loss of principal. For costs and complete details of coverage, speak to your financial professional. Certain types of contracts, features and benefits may not be available in all jurisdictions. We offer other variable annuity contracts with different fees, charges and features. Not every contract is available through the same selling broker/dealer.
You can contact us at (212) 554-1234 to find out the availability of other contracts.
AXA Equitable Life Insurance Company, through its AXA Funds Management Group (AXA FMG), serves as investment manager of the AXA Strategic Allocation Portfolios. AXA Equitable is solely responsible for the asset allocation decisions made on behalf of each portfolio, and for the selection and allocation of assets to underlying funds.
This website was prepared to support the promotion and marketing of AXA Equitable variable annuities. AXA Equitable, its distributors and their respective representatives do not provide tax, accounting or legal advice. Any tax statements contained herein were not intended or written to be used, and cannot be used, for the purpose of avoiding U.S. federal, state or local tax penalties. Please consult your financial professional as to any tax, accounting or legal statements made herein.
Call your financial professional or visit our Web site at www.axa-equitable.com Guarantees described herein are subject to the claims-paying ability of AXA Equitable Life Insurance Company. The guarantees do not apply to the investment portfolios. Retirement CornerstoneSM is a service mark of AXA Equitable Life Insurance Company, New York, NY 10104. Retirement CornerstoneSM variable annuities are issued by AXA Equitable Life Insurance Company, New York, NY 10104.
Co-distributed by affiliates AXA Advisors, LLC and AXA Distributors, LLC, New York, NY 10104.
AXA Equitable, AXA Advisors and AXA Distributors do not provide legal or tax advice.
Contract form #s: 2010BASE-A/B, 2010BASE-I-A/B, 2010BASE-I-A(WA) and any state variations
© 2009 AXA Equitable Life Insurance Company. All rights reserved.
1290 Avenue of the Americas, New York, NY 10104, (212) 554-1234
GE 52525(12/09)
The Guaranteed Income Benefit (GIB) |
How the GIB works: It can grow in both good and bad markets |
Assures Future Income for Life |
The GIB is available as an optional rider of the Retirement CornerstoneSM variable annuity for an additional cost. It assures you that money kept in the annuity’s Guaranteed Benefit Account1 for at least five contract years can begin generating a guaranteed minimum income (initially in the form of withdrawals) each and every year.
Guarantees are based on the claims-paying ability of AXA Equitable Life Insurance Company. |
Insulated from Down Markets |
Your Annual Withdrawal Amounts are calculated on a “Benefit Base,” rather than on the value of the annuity’s Guaranteed Benefit Account, in order to insulate your guarantee from any potential poor investment performance. The account value may decline due to down markets, but the Benefit Base will not. The Benefit Base is not available for withdrawals. Note that the Benefit Base does not have an actual cash value; it is simply a figure used to determine your Annual Withdrawal Amounts.2 |
Guaranteed Growth Linked to Treasury Rates |
Your “Roll-Up Benefit Base” initially has a value equal to the amount you first contribute or transfer into the Guaranteed Benefit Account. It is guaranteed to “roll up” each year (until age 95) by a percentage at least equal to recent average interest rates of 10-year Treasury notes plus 1%, if you take no withdrawals from the Guaranteed Benefit Account during the year. This annual guaranteed Roll-Up rate can go as high as 8%, and AXA Equitable may set a higher Roll-Up rate. The guaranteed Roll-Up rate can never go any lower than 4%. Each Roll-Up amount is computed on the first day of the contract year, but is not added to the Benefit Base until the end of the contract year on the contract anniversary. Any part of an Annual Withdrawal Amount you withdraw during the year will reduce the Roll-Up amount. |
Strong Investment Performance Can Also Boost the Guarantee |
On every third contract anniversary, the Roll-Up Benefit Base will be compared to the Guaranteed Benefit Account value; if the account value is higher, then the Benefit Base will be “reset” to equal the account value. If a reset is elected, the fees associated with the Guaranteed Income Benefit may go up. |
Death Benefits |
Retirement Cornerstone offers a choice of Guaranteed Minimum Death Benefits |
The “Greater of” Death Benefit: Protection through All Market Cycles |
If you elect the GIB when you purchase your Retirement Cornerstone annuity, you may also elect the “Greater of” Death Benefit for an additional charge. This death benefit protects your family in all market scenarios. First of all, it assures a return of your contributions (or transfers) to the Guaranteed Benefit Account, adjusted for your withdrawals. Second, it can lock in gains for your beneficiaries during “up” markets (through age 85). But even if investment performance is weak, your death benefit still has the potential to continue growing incrementally (through age 85) based on the level of interest rates each year (subject to limits). Withdrawals you make may reduce the death benefit. |
“Return of Principal” Death Benefit – Return of Net Contributions |
All Retirement Cornerstone investors can elect a Return of Principal Death Benefit at no additional charge. This guarantees that your beneficiaries will receive at least a return of your contributions or transfers to the Guaranteed Benefit Account, adjusted for the withdrawals you take. |
Annual Ratchet Death Benefit – Return of Contributions + Potential Growth |
Alternatively, and for an additional charge, you may elect the Annual Ratchet Death Benefit, which provides protection beyond the return of contributions. It gives you the ability to lock in investment gains for your beneficiaries in up markets (through age 85). All withdrawals reduce the Annual Ratchet Death Benefit. |
1 Certain types of contracts, features and benefits may not be available in all jurisdictions. Not every contract is available through the same selling broker/dealer.
2 Early/Excess Withdrawals – Taking a withdrawal from the Guaranteed Benefit Account during the first five contract years (an “early withdrawal”) or taking a withdrawal larger than the Annual Withdrawal Amount (an “excess withdrawal”) in any given year may have an adverse effect on this guarantee: reducing the Roll-Up Benefit Base on a pro rata basis. A pro rata reduction reduces the Roll-Up Benefit Base by the same percentage that the value of the Guaranteed Benefit Account is reduced by the withdrawal. Therefore, the amount of a pro rata reduction may be greater or less than the dollar amount of the withdrawal.
Important Information
Certain features available with the Retirement CornerstoneSM variable annuity, including enhanced death benefits, are optional and entail an additional cost; you do not have to elect these optional features in order to purchase a Retirement CornerstoneSM contract. Also, the IRS requires the owner of an IRA or Qualified Plan annuity contract to include the actuarial present value of certain optional benefits (which may include some of these Retirement CornerstoneSM optional features) in the calculation of lifetime Required Minimum Distribution payments. Withdrawals from an annuity contract are taxable as ordinary income, not as capital gain and, if made prior to age 59½, may be subject to an additional 10% federal income tax penalty. Withdrawals may also be subject to surrender charges. Withdrawals may reduce the death benefit, living benefit and cash surrender value. For tax purposes, withdrawals will come from any gain in the contract first.
AXA Equitable may discontinue contributions and transfers among investment options or make other changes in contribution and transfer requirements and limitations. If we discontinue contributions and transfers into the Guaranteed Benefit Account, you will no longer be able to create a Benefit Base or actively increase the benefit(s).
Market Risk
This brochure is not a complete description of all material provisions of the Retirement CornerstoneSM variable annuity contract. This brochure must be preceded or accompanied by a current Retirement CornerstoneSM Series prospectus and any applicable supplements. The prospectus contains more complete information, including investment objectives, risks, charges, expenses, limitations and restrictions. Please read the prospectus and any applicable supplements, and consider this information carefully before purchasing a contract.
There are fees and charges associated with the Retirement CornerstoneSM contract, which include, but are not limited to, mortality and expense risk charges, sales and withdrawal charges, administrative fees, and additional charges for optional benefits. The contingent withdrawal charge declines from 7% over a seven-year period for the Series B product. Please see the prospectus for the withdrawal charge scale for other annuities in the Retirement CornerstoneSM Series. Amounts in the annuity’s variable investment portfolios are subject to fluctuation in value and market risk, including loss of principal. For costs and complete details of coverage, speak to your financial professional. Certain types of contracts, features and benefits may not be available in all jurisdictions. We offer other variable annuity contracts with different fees, charges and features. Not every contract is available through the same selling broker/dealer.
You can contact us at (212) 554-1234 to find out the availability of other contracts.
AXA Equitable Life Insurance Company, through its AXA Funds Management Group (AXA FMG), serves as investment manager of the AXA Strategic Allocation Portfolios. AXA Equitable is solely responsible for the asset allocation decisions made on behalf of each portfolio, and for the selection and allocation of assets to underlying funds.
This website was prepared to support the promotion and marketing of AXA Equitable variable annuities. AXA Equitable, its distributors and their respective representatives do not provide tax, accounting or legal advice. Any tax statements contained herein were not intended or written to be used, and cannot be used, for the purpose of avoiding U.S. federal, state or local tax penalties. Please consult your financial professional as to any tax, accounting or legal statements made herein.
Call your financial professional or visit our Web site at www.axa-equitable.com Guarantees described herein are subject to the claims-paying ability of AXA Equitable Life Insurance Company. The guarantees do not apply to the investment portfolios. Retirement CornerstoneSM is a service mark of AXA Equitable Life Insurance Company, New York, NY 10104. Retirement CornerstoneSM variable annuities are issued by AXA Equitable Life Insurance Company, New York, NY 10104.
Co-distributed by affiliates AXA Advisors, LLC and AXA Distributors, LLC, New York, NY 10104.
AXA Equitable, AXA Advisors and AXA Distributors do not provide legal or tax advice.
Contract form #s: 2010BASE-A/B, 2010BASE-I-A/B, 2010BASE-I-A(WA) and any state variations
© 2009 AXA Equitable Life Insurance Company. All rights reserved.
1290 Avenue of the Americas, New York, NY 10104, (212) 554-1234
GE 52525(12/09)
Professional Guidance Counts
Your financial professional can be an invaluable resource in helping you:- Complete a financial needs analysis
- Evaluate the financial strategies available to you, and
- Select appropriate financial products designed to help you reach your goals
