Affordable permanent life insurance with upside potential
If your goal is to protect your family with the flexibility to adapt as life changes, IUL Protect may be a good choice for you.
The power to adapt to your evolving needs
With IUL Protect, you get clarity with simple, guaranteed protection so you can live more today, keep more of the money you earn and gain the potential to build more cash value that you can actually use.
Live more for today with the comfort of coverage that’s guaranteed through age 90, or for 40 years if purchased under age 50.1 There’s no guesswork, just a simple number you’ll know up front and can rely on.
Defer taxes and accommodate changes
IUL Protect gives you the potential to build more wealth, with growth that’s tied to a market index, and the added benefit of downside protection. Because your money grows tax deferred, you keep more of it, and you have the flexibility to use that cash surrender value if your circumstances change.
Allocating your premium payments
You can allocate to the Guaranteed Interest and Select Accounts without restriction, using any combination of the two accounts. You can change allocations at any time.
The Guaranteed Interest Account
Any premiums allocated to the Guaranteed Interest Account will earn the current interest rate, which is set by the insurance company and guaranteed to never be less than 2.5%.
The Select Account
If you want a bit more upside potential, the Select Account is an index-linked option that gives you the potential for cash value growth based on the performance of the S&P 500® Index.
- You can realize 100% of any positive returns, up to a performance cap; and
- You’re protected against 100% of any negative returns with the 0% floor.
Extra Interest Credit
- If interest rates rise, you can receive additional cash value, on top of your index return.
- You’ll receive an additional credit to the Select Account equal to the Guaranteed Interest Account rate minus 3.5% (never to be less than zero).
Access to your money
- Available after the 1st policy year and before the policyowner’s 121st birthday.
- You can withdraw any amount of at least $500, provided the withdrawal does not reduce the Face Amount to an amount below $100,000.
- If Death Benefit Option A is chosen, the Face Amount will be reduced by a partial withdrawal.
- Fixed loans are available any time after issue.
- You may borrow up to the net cash surrender value.
- Loans and withdrawals will reduce the cash value and the life insurance benefit and could increase the chance that the policy will lapse.
- You have the flexibility to reduce payments by using cash value to pay the monthly deductions.
- You can also increase the payments within certain limits to build cash value more quickly.
- Skipping or reducing payments may increase the chance of the policy lapsing, and could mean you’ll need to increase the premiums in the future.
Death benefit options
IUL Protect has two death benefit options:
- Option A – Level Death Benefit - is equal to the Face Amount of the policy
- Option B – Variable Death Benefit - is equal to the Face Amount plus the Policy Account Value
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 riders2
Depending on your current or anticipated future needs, you can tailor your IUL Protect policy by taking advantage of a selection of policy riders that are available for an additional cost.
*S&P®, Standard & Poor's®, S&P 500® and Standard & Poor's 500tm are trademarks of Standard & Poor's and have been licensed for use by AXA Equitable. BrightLifesm Protect is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's does not make any representation regarding the advisability of investing in the product.
1 Coverage is guaranteed to the lesser of 40 years or to age 90, as long as certain premium payments are maintained (excluding loans).
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 an 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. In addition, withdrawals, policy loans and any accrued loan interest may cause your policy to lapse even if you are in a period of coverage under the No Lapse Gurantee Rider. Speak to your financial professional before taking any withdrawals or policy loans.
2 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.
The material is not a complete description of all the material provisions of the IUL Protect policy. Please refer to the product brochure and the actual policy for more complete information.
All guarantees are based on the claims-paying ability of the issuing Insurance Company, either AXA Equitable Life Insurance Company or MONY Life Insurance Company of America.
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.
IUL Protect is issued in New York and Puerto Rico by AXA Equitable Life Insurance Company (AXA Equitable), New York, NY, and in all other jurisdictions by affiliate MONY Life Insurance Company of America (MLOA), an Arizona Stock Corporation, main administrative offices in Jersey City, NJ. MLOA is not licensed to do business in New York. IUL Protect is co-distributed by AXA Network, LLC and AXA Distributors, LLC. All companies are affiliated and directly or indirectly owned by AXA Equitable Financial Services, LLC, and do not provide tax or legal advice. You should consult with your tax and legal advisors regarding your particular circumstances.
IUL Protect is a flexible premium universal life insurance policy with an index-linked interest option. These policies have limitations. Certain types of policies, features and benefits may not be available in all jurisdictions or may be different. For costs and complete details of coverage, contact your financial professional.
Policy form # ICC11-12-100,12-100 or State Variation
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