NEW YORK, Jan. 27, 2014 /PRNewswire/ -- AXA, a pioneer in financial protection, has launched BrightLife SM Protect*, an innovative life insurance policy designed to meet cost-effectively the protection needs of individuals, families and businesses. BrightLife SM Protect, available for sale nationwide, has the dual appeal of a low cost structure and flexibility to adjust to a policyholder's changing needs.
"In the U.S., individual life insurance ownership is at a 50-year low, putting many American families and businesses at financial risk," said Nick Lane, head of AXA's U.S. Life and Retirement business. "At AXA, we're responding to a changing marketplace that demands affordable coverage as never before. BrightLife SM Protect is a product designed to bring financial protection within reach of the modern American family juggling multiple financial priorities, such as saving for a new car, planning for college, and putting money aside for retirement."
BrightLife SM Protect, a flexible, premium universal life insurance policy with an index-linked interest option, offers policy holders such practical features as:
- Choice. Premiums can be allocated to a Fixed Account (guaranteed interest account) that offers a guaranteed rate of return and/or to a Select Account, an index-linked interest option tied to the S&P 500** price return index, subject to a cap, that offers upside cash value accumulation potential and a guaranteed 0% floor which protects from losses due to market performance.
- A Long-Term Care Services Rider ℠.BrightLife SM Protect provides the option to add for an additional charge a Long-Term Care Services SM Rider which functions as an acceleration of the life insurance policy's death benefit that can be used to pay for qualified long-term care expenses. (Some restrictions may apply. See the outline of coverage and policy rider form for more information.)
- Flexible premium payments. These may be reduced or skipped. This flexibility can make the policy adaptable to changing financial needs, so long as the policy contains sufficient cash surrender value to pay monthly premium deductions. (Skipping or reducing premium payments reduces the cash value and increases the chance that the policy will lapse.)
- Benefits for businesses. Depending on one's business needs, a BrightLife SM policy may be used to insure the business owner/policy holder, partners, or key employees, and it also can be structured to aid transfer of ownership in the event of a business-owner's death.
An Even Brighter Life Stay tuned for an even brighter BrightLife SM … Later this year, AXA plans to announce another BrightLife SM product -- BrightLife SM Grow – which will feature a design for tax-deferred accumulation needs.For more information about BrightLife SM Protect, please go to http://www.axa-equitable.com/news/2014/axa-launches-brightlife-protect.html *Issued by AXA Equitable and MONY Life Insurance Company of America.