Athena Indexed Universal Life sm

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1 AXA Equitable Life Insurance Company and MONY Life Insurance Company of America Athena Indexed Universal Life sm Athena Indexed Universal Life SM is a flexible premium universal life insurance policy that offers the opportunity for lifetime insurance protection and the potential accumulation of cash value through index-linked interest options and a guaranteed interest account. Flexible premium universal life insurance with index-linked interest options Protection Two Death Benefit Options Option A: Level Death Benefit The Face Amount of the policy. Option B: Variable Death Benefit 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 certain levels relative to the Face Amount. Flexibility Clients can switch from Death Benefit Option A to B and from B to A. Changes from Death Benefit Option A to B are available at no charge after the second policy year. Changes from Death Benefit Option B to A are allowed after the fifth policy year. 1 Face Amount $50,000 minimum The Charitable Legacy Rider is available only for policies with a Face Amount of $1,000,000 or greater. important note This fact card highlights the features and benefits of this product. It is not a complete description of all material provisions of the policy. For more complete information, please refer to the product specifications. When the Cash Value Plus (CVP) Rider is elected, minimum Face Amount is $250,000/life for 1 2 lives and $100,000/life for 3 or more lives. Accumulation Index-Linked Interest Options and the Guaranteed Interest Account Guaranteed Interest Account Security The interest rate AXA Equitable credits to the Policy Account Value is declared periodically. The guaranteed minimum interest rate is 2% annually. 1 Only Death Benefit Option A is available when the Loan Extension Endorsement is in effect. Changes in the death benefit option may result in changes to the policy s Face Amount and may require evidence of insurability from the client. The death benefit during the early years of the contract is generally lower than in policies without this rider. For Financial Professional Use Only. Not for Use with, or Distribution to, the General Public.

2 Underwriting Classes/Issue Ages 2 Underwriting Class Preferred Elite (Non-Tobacco User only): For policies issued on juveniles (ages 0-17): Issue Ages Preferred Non-Tobacco User Standard Plus (Non-Tobacco User only): 0 85 Preferred Tobacco User: Standard: Substandard Classes B & C: Substandard Classes D, E & F Guaranteed Issue: (Only Available with Prior Approval from AXA Equitable) The only available class at issue is Standard Plus. There is no distinction for Tobacco User/Non-Tobacco User. Beginning at attained age 18, Standard Plus Non-Tobacco User rates will apply unless the Insured qualifies for Preferred or Preferred Elite with underwriting. Index-Linked Interest Options 3 A varied selection of point-to-point indexed accounts to help meet clients short- and long-term accumulation goals. One-Year Options: Choice S&P 500 Price Return index U.S. Large-Cap Index S&P 500 Price Return index U.S. Large-Cap Index Choice Russell 2000 Price Return index U.S. Small-Cap Index Russell 2000 Price Return index U.S. Small-Cap Index Choice MSCI EAFE Price Return index International Index MSCI EAFE Price Return index International Index Three-Year Options: 4 Choice S&P 500 Price Return index U.S. Large-Cap Index S&P 500 Price Return index U.S. Large-Cap Index. For more information on Index-Linked Interest Options, please visit the Performance Center via 2 If a policy is rated with a flat extra premium, the issue age is limited to age S&P, Standard & Poor s, S&P 500 and Standard & Poor s 500 TM are trademarks of Standard & Poor s and have been licensed for use by AXA Equitable. Athena Indexed UL SM 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. The Russell 2000 index is a trademark of Russell Investments and has been licensed for use by AXA Equitable. Athena Indexed Universal Life SM is not sponsored, endorsed, sold or promoted by Russell Investments and Russell Investments makes no representation regarding the advisability of investing in the product. The product referred to herein is not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such product or any index on which such product is based. The policy contains a more detailed description of the limited relationship MSCI has with AXA Equitable and any related products. Please be advised that this fact card 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 fact card 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 clients should seek advice based on their particular circumstances from an independent tax advisor. 4 Not available in NY.

3 Upside Potential with Downside Protection When clients invest in one of the index-linked interest options, they receive a crediting rate based on the performance of the index, subject to certain caps, participation rates, and floors. The floor will be 0% in all years and the cap and participation rate will be established at the beginning of a Segment. The Choice options offer a higher cap rate for a 1% annual Segment charge on dollars allocated to the Choice account. AXA Equitable reserves the right to change the cap and participation rate for new Segments, but they will never be less than the minimums stated in the policy. The minimum Growth Cap rate is 3% for the one-year indexed options and 10% for the three-year indexed option. Flexibility At issue or any time after, clients can decide where to allocate their future premiums among any of the index-linked interest options or the Guaranteed Interest Account. Additionally, clients can elect to Dollar Cost Average (DCA) specified dollar amounts from the Guaranteed Interest Account to any of the index-linked interest options on a monthly basis. AXA Equitable reserves the right to limit the total amount that can be allocated to each option. Segments generally start each month on or about the 15th day of the month. Flexibility Flexible Premiums Design premium payments according to clients budgets. Choose the amount and frequency of premium payments (certain limits apply). Increased frequency in premium payments is more expensive. Pay premiums annually, semiannually, quarterly, monthly, or through automatic monthly or quarterly deductions from a checking account. Allocate premiums to the index-linked interest options or the Guaranteed Interest Account. These allocations can be selected at issue and changed at any time, but clients cannot transfer premiums out of a Segment after that Segment has been established. Premium payments will not be accepted while the Loan Extension Endorsement is keeping the policy in force. Dollar Cost Averaging: Allocate premiums to the Guaranteed Interest Account designated for the Dollar Cost Averaging Service (DCA). On a monthly basis, level dollar amounts specified by the policyowner will be transferred to the holding accounts, then to the specified index-linked interest options. Minimum balance of $5,000 in the Guaranteed Interest Account and minimum of $50 for each transfer required. Can be elected at issue or initiated after issue. Rolling Targets 5 Allows first-year up-to-target compensation on premiums received in policy year 2, assuming that the first-year premium did not reach the target premium level. If a client pays less than the target premium in policy year 1, any dollars received in year 2 will still receive the first-year up-to-target payout until the total premiums paid equal the first-year target premium. Any additional dollars will get the renewal-year compensation. For example, if the target premium was $10,000 and the client paid $8,000 of premium dollars in year 1 and $8,000 in year 2, the producer would receive first-year compensation of $8,000 in year 1 and first-year compensation of $2,000 in year two. The producer would also receive renewal compensation on the additional $6,000 paid in year 2. 5 Not available in NY or PR or if the CV Plus Rider is elected.

4 Available Riders 6 and Endorsements Optional riders available for an additional charge: Long-Term Care Services sm Rider (LTCSR) This policy feature allows a policyowner to choose a Monthly Benefit Percentage of 1%, 2%, or 3% at issue. The availability of the Monthly Benefit Percentage may be limited due to the age of the Insured and cannot be changed after the policy is issued. The rider is available only to underwriting classes of standard or better with a minimum base Face Amount of $100,000. Monthly Benefit Percentage Available Issue Ages 1% % % In addition, an Acceleration Percentage is used to determine the maximum amount available under the terms of the LTCSR. Depending on the death benefit option selected, the following Acceleration Percentages can be selected, providing more flexibility to clients policies. Acceleration Percentage Death Benefit Option % A 100% B Return of Premium Death Benefit Rider Provides beneficiaries with an additional death benefit equal to a percentage of the premiums a client has paid. Cash Value Plus Rider Reduces the surrender charges by a specified percentage if the policy is surrendered for its net cash surrender value in the first eight policy years. Provides a refund of a specified percentage of cumulative premium charges if the policy is surrendered in the first three policy years. Certain restrictions may apply. Children s Term Insurance Rider Provides term insurance protection on children of the Insured that may later be converted to permanent insurance without the children insured showing evidence of insurability. Option to Purchase Additional Insurance Allows the policyowner to purchase a new policy on the life of the Insured for the amount of the option, on specified dates, without evidence of insurability. Disability Waiver of Monthly Deductions Rider Keeps a policy in force if a client is unable to pay premiums due to disability. Optional rider available at no additional charge: Charitable Legacy Rider Provides an additional death benefit of 1% of the base policy Face Amount, limited to $100,000, to go to a qualified charity named as beneficiary by the policyowner at issue (may be changed after issue). Up to two charities can be named. Available for Face Amounts of $1,000,000 or more. 6 All riders are subject to the terms and conditions of the rider. All riders may not 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.

5 Automatically included with eligible policies at no additional charge: No-Lapse Guarantee Rider (NLG) Guarantees that a policy will not terminate before a certain date if certain specified amounts of premium are paid and any policy loan plus accrued loan interest do not exceed the Cash Surrender Value. The length of a policy s guarantee period will range from the lesser of 25 years or until attained age 90, depending on the Insured s age when the policy is issued for policies issued without the Return of Premium Rider. For policies that have the Return of Premium Rider, the length of a policy s guarantee period is 5 years. Living Benefits Rider Provides the policyowner with a portion of the death benefit if the Insured is terminally ill (generally, having 12 months or less to live). Loan Extension Endorsement Prevents the policy from lapsing as a result of overloan, subject to various requirements. Not available with policies that elect the Cash Value Accumulation Test (CVAT) as the Definition of Life Insurance. 2% Interest Guarantee Endorsement Endorsement provides a minimum accumulation value using an annual interest rate of 2% to determine the a) adequacy of policy value to cover monthly deductions to prevent policy lapse, b) cash surrender value at full surrender, c) death benefit and d) amount available for a policy loan. All riders have restrictions and limitations. Be sure to review the product specifications for details. Access to Cash Value 7 Cash value can grow tax-deferred. Cash surrender value may be accessed through loans and withdrawals, potentially free of current income tax. The cash surrender value equals the Policy Account Value less applicable surrender charges during a surrender charge period, and the Policy Account Value thereafter. Withdrawals 7 Withdrawals of the cash surrender value are available any time after the first policy year, but before the Insured s attained age 121. The policy may not be on Loan Extension. Amounts between $500 and the policy s net cash surrender value are available, provided the withdrawal does not reduce the Face Amount below $50,000. No withdrawal charge or pro rata surrender charge is imposed. If the death benefit is Option A, the Face Amount of the policy will be reduced by the amount of the partial withdrawal. 7 Under current federal tax rules, clients generally may take income-tax-free partial withdrawals under a life insurance policy that is not a Modified Endowment Contract (MEC), up to the basis in the contract. Additional amounts are includible in income. In certain cases, during the first 15 years of a policy a partial withdrawal may be taxable to the extent there is gain in the policy. 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 on an income-first basis, that is, to the extent there is gain in their policies, and penalties on any taxable amount if they are not age 59½ or older. Loans taken will be free of current income tax as long as the policy remains in effect until the 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, may cause certain policy benefits or riders to become unavailable, and may increase the chance 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. In addition, withdrawals, policy loans and any accrued loan interest may cause a policy to lapse even if it is in a period of coverage under the No-Lapse Guarantee Rider. Policy changes, including increases, decreases, option changes or dropping riders, can impact limits for federal income tax qualification and MEC testing. This may impact MEC status and premium limits and, in some cases, require current or future distributions. Refer to your actual policy and the Important Tax Information section of the policy illustration for additional information.

6 Policy Loans 7 A loan may be taken any time after issue. There is a minimum loan amount of $500. Maximum 100% of Cash Surrender Value. Interest charged is 3% years 1 10, 2% thereafter. 15% guaranteed maximum. Interest Credit 2% all years on a current basis. 1% guaranteed. The maximum loan value on any date is the cash surrender value on the date of the loan request, less any existing loan and accrued loan interest, less any amount required to secure a Living Benefits Rider lien. Clients may repay a loan in full or in part at any time. (Any outstanding loan plus accrued loan interest are deducted from policy proceeds upon death or surrender.) The non-guaranteed loan spread (the difference between the rate that AXA Equitable charges on the policy loans and the rate that it credits on policy loans) is currently 1% annually for policy years 1 10 and 0% thereafter. The guaranteed maximum loan spread is 1% annually for all policy years. Policy loans may have an adverse impact on certain policy features, such as the No-Lapse Guarantee Rider, and may cause the policy to lapse. However, the Loan Extension Endorsement may prevent a policy from lapsing due to overloan if certain requirements are met. Note: Withdrawals and policy loans will be deducted from the Policy Account Value and may decrease the interest credited on money in Segments. These deductions will be taken in this order until exhausted: Unloaned Guaranteed Interest Account, then The holding accounts for each index, on a pro rata basis, then The Indexed Accounts, on a pro rata basis, without regard to Segment term or time remaining until maturity. Face Amount Changes Face Amount increases are available after the first policy year. AXA Equitable will require satisfactory evidence of insurability. A new 15-year surrender charge period begins and an additional per thousand of Face Amount charge applies if the requested increase exceeds the highest previous Face Amount. 8 Face Amount decreases are available after the second policy year. Surrender Charges Applicable during the first 15 policy years or for 15 years after a Face Amount increase (that exceeds the highest previous Face Amount). Cost of Insurance (COI) Charges Rate bands at $50K and $250K. Charge continues to age 121. Premium Charges 8% years 1 2, 6% years 3+ on a current basis (8% guaranteed). Administrative Charges (Monthly) $10 in all years to age 121. $15 guaranteed maximum. Per Thousand Charges (Monthly) There is a per $1,000 of Face Amount charge that applies for the first 10 policy years on a current (non-guaranteed) basis, and until attained age 121 on a guaranteed basis. Varies by DB Option at issue. Loan Charges Maximum Loan 100% of new Cash Surrender Value. Loan Interest Charged 3% years % thereafter. 15% guaranteed maximum. Loan Interest Credited 2% all years on a current basis. 1% guaranteed minimum. 8 Not allowed if the Cash Value Plus Rider is elected and is still in effect.

7 Definition of Life Insurance A policy must satisfy one of two Definition of Life Insurance tests to qualify as a life insurance contract under Section 7702 of the Internal Revenue Code. The policyowner may choose between: Guideline Premium Test (GPT) Cash Value Accumulation Test (CVAT) Note: The test is selected at the time of application and may not be changed after the policy is issued. If no election is specified on the application, the default is the GPT. For Additional Support Contact the Life Insurance Sales Desk or Visit All guarantees are based on the claims-paying ability of AXA Equitable Life Insurance Company. Athena Indexed Universal Life SM is issued in New York and Puerto Rico by AXA Equitable Life Insurance Company (AXA Equitable), New York, NY 10104, and in all other jurisdictions by affiliate MONY Life Insurance Company of America (MONY America), an Arizona Stock Corporation, with main administrative office at 1290 Avenue of the Americas, New York, NY It is co-distributed by affiliates AXA Network, LLC and AXA Distributors, LLC. AXA Equitable, MONY America, AXA Network, LLC and AXA Distributors, LLC do not provide tax or legal advice. Clients should rely on their own advisors on these matters. Charitable Legacy Rider is a registered service mark and Athena Indexed Universal Life SM and Long-Term Care Services SM Rider are service marks of AXA Equitable Life Insurance Company (AXA Equitable), New York, NY AXA Equitable Life Insurance Company. All rights reserved Avenue of the Americas, New York, NY 10104, (212) G30266 IU (11/12) (Exp. 11/14) Cat. # (11/12) For Financial Professional Use Only. Not for Use with, or Distribution to, the General Public.