Life Insurance Key Features

Death benefit is generally income-tax-free

The death benefit of your permanent life insurance is generally passed on to your beneficiaries free from federal income tax.

Premium withdrawals may be tax-free

Under current federal tax rules, you may generally take income-tax-free withdrawals under a life insurance policy, which is not a Modified Endowment Contract (MEC), up to your basis of the contract. Special rules apply to MDCs and to certain withdrawals taken during the policy’s first 15 years. Withdrawals and loans reduce the policy’s cash value and death benefit, and increase the chance that the policy may lapse.

Transfers are tax-free

Transfers among the underlying investment options of a variable life or variable universal life insurance policy are not subject to current income or capital gains taxes.

Withdraw early with no penalty

You can take loans or withdrawals from a life insurance policy prior to age 59½ without the 10% early withdrawal penalty as long as the policy is not an MEC.

Accumulation is tax-deferred

Any earnings accumulated in your insurance policy’s cash value grow free from taxes until you withdraw them. Please note that in a variable life insurance policy, cash value growth is not guaranteed.

Your money may grow faster without taxes

• $10,000 annual hypothetical investments
• Assumed 8% hypothetical annual compounded rate of return
• Results shown at the end of 10, 20 and 30 years

Distributions from life insurance policies indentified as MECs under the Internal Revenue Code are taxed differently from those life insurance policies that are not modified endowments. A ife insurance policy will be an MEC when it is:

1. A life insurance policy as defined by Section 7702 of the Internal Revenue Code; and

2. The policy's premium payment is deemed "too large" when measured against the death benefit provided by the policy.

Please contact your financial professional for more details on MECs.

Withdrawals made from a life insurance policy during the surrender charges. Loans and withdrawals will reduce the cash value and the amount of the death benefit. Outstanding loans will accrue interest. Withdrawals will be taxed at the recipient's current tax rate.

Please be advised that this page is not intended as legal or tax advice. Accordingly, any tax information provided in this page is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer. The tax information was written to support the promotion or marketing of the transaction(s) or matter(s) addressed and you should seek advice based on your particular circumstances from an independent tax advisor.

Life insurance is issued by AXA Equitable Life Insurance Company (AXA Equitable) and by various unaffiliated carriers through AXA Network, LLC and its subsidiaries. Co-distributed by AXA Distributors, LLC and AXA Advisors, LLC, members FINRA, SIPC. AXA Equitable, AXA Network, AXA Distributors and AXA Advisors are affiliated companies. All guarantees are based on the claims-paying ability of AXA Equitable. The guarantees do not apply to the investment portfolios.

AXA Financial, Inc. and its subsidiaries do not provide tax or legal advice. This content is provided for informational purposes only. Please consult your tax and/or legal advisors regarding your particular circumstances.

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