Insurance Products and Services |
Athena Survivorship Universal LifeSM III
Permanent Life Insurance that Insures Two Lives
Premium Flexibility
May Help you Address Estate Planning and Presevation Needs
This page highlights some of the features and benefits of this product. For more complete details, please download the product fact card, above.
- Key Features
- Next Steps
Key Features
Permanent Life Insurance Protection |
Athena Survivorship Universal LifeSM III (Athena SULSM III) is a flexible premium, second-to-die universal life insurance policy that provides death benefit protection.
The policy
It is important that you work with your attorney to make sure that the policy ownership and beneficiary designation is properly set up. |
Interest Rate and Non-Guaranteed Interest Rate Bonus |
The interest rate that AXA Equitable credits to the Athena SULSM III Policy Account Value is declared periodically. For more detailed information, please refer to the fact card above. |
Premium Flexibility |
Premium payments are flexible. After an initial payment, the amount and timing of your premium payments is flexible (subject to certain minimums and maximums). |
Access to Cash Value2 |
You (if owner of the policy) can access your cash value, through loans and withdrawals, potentially free of current income tax as long as the policy stays in force until the last surviving Insured’s death. A loan may be taken anytime after issue. There is a minimum loan amount of $500. For more detailed information, including possible surrender charges, please refer to the fact card above. |
Death Benefit Options |
Athena SULSM III has two death benefits options.
Under either option, a higher death benefit may apply if the value in the Policy Account reaches a certain level relative to the Face Amount. Changes to the death benefit option are available at no charge after the second policy year. |
Choice of Riders3 |
Depending on your current or anticipated future needs, you can tailor your Athena SUL IIISM policy by taking advantage of a selection of optional policy riders that are available for an additional cost. For more detailed information, please refer to the fact card link above. |
1 Under current federal tax rules, you generally may take income-tax-free partial withdrawals under a life insurance policy that is not a Modified Endowment Contract (MEC) up to your basis in the contract. Additional amounts are includible in income. The IRS places a limit on how much money can go into life insurance premiums for the policy and how quickly such premiums can be paid in order for the policy to retain all of its tax benefits. If certain limits are exceeded, a MEC results. MEC policyholders may be subject to taxes on distributions to the extent there is gain in their policy and penalties on any taxable amount if they are not 59½ or older. Loans taken will be free of current income tax as long as the policy remains in effect until the last surviving Insured’s death, does not lapse, and is not a MEC.
Please note that outstanding loans accrue interest. Income-tax-free treatment also assumes the loan will eventually be satisfied from income-tax-free death benefit proceeds. Loans and withdrawals reduce the policy’s cash value and death benefit and increase the chance that the policy may lapse. If the policy lapses, is surrendered or becomes a MEC, the loan balance at such time would generally be viewed as distributed and taxable under the general rules for distribution of policy cash values.
3 All of the riders are subject to the terms and conditions of the rider. Not all riders may be available in all jurisdictions. Some states may vary the terms and conditions. There may be an additional charge associated with obtaining certain riders. Some riders may not be available in combination with other riders and/or policy features.
Please be advised that this content is based on our general understanding of federal income tax rules for U.S. individuals and is not intended as legal or tax advice. Accordingly, any tax information provided in this content 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.
All guarantees are based on the claims-paying abilities of AXA Equitable Life Insurance Company.
Athena Survivorship Universal LifeSM III, a flexible premium, second-to-die universal life insurance policy, is issued by AXA Equitable Life Insurance Company (AXA Equitable) New York, NY and co-distributed by affiliate AXA Network, LLC and AXA Distributors, LLC. This product has limitations. For costs and complete details of coverage, contact your financial professional/licensed insurance agent.
Athena Survivorship Universal LifeSM and Athena SULSM are service marks of AXA Equitable Life Insurance Company.
Neither AXA Equitable, its affiliates, not their agents or representative provide tax or legal advice. Clients should seek the advice of their tax and legal advisors regarding their particular circumstances.
Policy form #07 – 400 or state variation
GE-60291 (3/11)
Next Steps
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
