AXA Equitable Life Insurance Company
Indexed Universal Life
AXA Equitable Life Insurance Company, New York, has introduced Athena Indexed Universal Life (Athena IUL), a new permanent life insurance policy with enhanced cash-value accumulation potential and downside protection. Athena IUL offers interest crediting linked to the movement of three major market indices, up to a cap, with a built-in guaranteed floor to help protect against index declines.
Athena IUL policyholders can allocate net premiums after expenses to any combination of four indexed options where cash value can grow up to a cap based on the movement of three major equity indices. Policyholders can also diversify by time period, choosing between three indexed options structured with a one-year maturity and one with a three-year maturity: 1-Year S&P 500 Price Return Index Indexed Option; 1-Year Russell 2000 Indexed Option; 1-Year MSCI EAFE Indexed Option; or The 3-Year S&P 500 Price Return Index Indexed Option.
In addition to these indexed options, policyholders can allocate premium to a Guaranteed Interest Account, which credits a rate of interest guaranteed to never be less than 2%.
AXA Equitable uses a simplified point-to-point method to determine the index "performance rate" for each indexed option segment -- the difference between the index's value at the beginning and end of the 1-year or 3-year segments. This is then multiplied by the "participation rate" -- the percentage of the index growth on which the interest credit is based, subject to the cap and floor established by AXA Equitable.
With Athena IUL, the participation rate is guaranteed to be at least 100%. If market conditions warrant, AXA Equitable also reserves the right to raise the participation rate above 100% in the future.
For more information, visit www.axa-equitable.com.
American United Life Insurance Company
Insurance Rider
The Individual Division at American United Life Insurance Company (AUL), a OneAmerica company, Indianapolis, has launched the Enhanced Blended Insurance Rider to assist in building assets during challenging times.
The Enhanced Blended Insurance Rider allows both rider premiums and dividends to purchase one-year term insurance and paid-up additions equal to a specified amount of coverage for policyholders who qualify.
The minimum specified amount of Enhanced Blended Insurance Rider coverage is $25,000, and the maximum is three times the base policy face amount. The policyholder also has the option of adding the Waiver of Premium -- Disability rider, which will waive premiums if the primary insured becomes disabled.
The Enhanced Blended Insurance Rider carries a premium that can only be determined from illustration software. This premium is based on issue age, gender, risk classification and the selected projected age-to-persist at the assumed dividend scale. After issue, Enhanced Blended Insurance Rider premiums may be increased or decreased, but only on policy anniversaries. The policy can be terminated at any time, which terminates the one-year term. The specified face amount may not be increased or decreased after policy issue. One-year terms may be converted partially or in whole to a permanent policy through age 64, but any such conversion terminates the rider. A termination of the rider also terminates the premium, but has no effect on any existing paid-up additions.
For more information on, visit www.oneamerica.com.
