Solution Focus A Long-Term Care Sales Approach for VUL Future retirees will live longer than ever before. Longevity risk has become a real factor in financial planning. That increased risk has given rise to a different challenge: Long-term care (LTC). LTC is not just possible, it has become very probable. How do we plan for this need? Stand-alone LTC coverage has become very expensive, and it may make sense for a client to explore a different solution. Individual life insurance has traditionally been either a death benefit or supplemental income sale. However, given the TLC riders available on today s life insurance policies, it makes sense to also position life insurance as a LTC sale. That can be for a primary or an additional policy sale. If a LTC need doesn t present itself, that policy is available to supplement a variety of other needs. For the insurance wholesaler, this can present a new approach to the advisor conversation: 1) Mr. Advisor, did you know that over 70% of people over 65 will need long-term care at some point, whether at home or in an institution? 2) Think of it this way, Mr. Advisor, what if tomorrow one of your best clients had a stroke? It is clear they will need assisted living. Their spouse calls you and asks what is the plan? 3) Mr. Advisor, I know what you may be thinking: traditional long-term care policies are very expensive and worse yet, if the client doesn t need the coverage, those premiums are lost. 4) What if I can solve these problems? Offer an affordable long-term care strategy for your client, and provide an alternative use for those funds if there ends up not being a need. Would you have interest in learning some more? A variable universal life policy can offer a death benefit with the potential for cash value accumulation. It allows the advisor to allocate the underlying sub-account portfolio and manage the policy. Withdrawals can be made on the cash value in later years offering supplemental income. If your client ends up needing LTC, they can accelerate the death benefit and use those funds to lessen the financial burden on their family. If they don t have a need for LTC, they still have a life insurance policy for a variety of uses. A Leaders Group Suggestion: AXA s Long Term Care Rider Attached: AXA s Long Term Care Rider Brochure Comparison of Important LTC Features For broker use only. Not for public distribution.
life insurance AXA Equitable Life Insurance Company MONY Life Insurance Company of America one strategy can help address two needs Long-Term Care Services SM Rider with my life insurance policy Life Insurance: Is Not a Deposit of Any Bank Is Not FDIC Insured Is Not Insured by Any Federal Government Agency Is Not Guaranteed by Any Bank or Savings Association May Go Down in Value ICC14-GE-92771 (5/14) (Exp. 5/16)
the real need for long-term care Health care for the aging population continues to be a prominent concern among future retirees. As more people live longer with chronic conditions, the demand for long-term care services will rise dramatically. In fact, an estimated 70 percent of Americans who reach age 65 will need some form of long-term care service and support. 1 While many will be cared for by family and friends, millions of others will rely on professional care either at home or in long-term care facilities. The question that you may be asking yourself is, Am I financially prepared for the ongoing expenses associated with this care if I need it? The Long-Term Care Services SM Rider is an accelerated death benefit rider available at issue for an additional cost with certain individual permanent life insurance products. This rider may advance all or a portion of a policy s death benefit to pay for qualified long-term care services if a physician certifies that you have become chronically ill and otherwise qualify under the rider. The Long-Term Care Services SM Rider provides you with a versatile benefit that can be used during your lifetime to pay for some of the expenses associated with long-term care, if needed. The company has the right to increase charges on the Long-Term Care Services SM Rider, up to a guaranteed maximum rate. An increase in rider charges may require a higher premium in order to keep the policy and rider in effect. Also, the approval of this rider is subject to underwriting. The underwriting requirements are based on our published age and amount guidelines, which may include a paramedical exam. Contact your Financial Professional today to discuss how the Long-Term Care Services SM Rider may help you meet your unique financial goals. Receipt of the accelerated benefits may be taxable; therefore, you should seek assistance from a tax advisor. 1 Long-Term Care: What Are the Issues? Health Policy Snapshot Issue Brief, Robert Wood Johnson Foundation, February 2014.
The Potentially High Cost of Care Depending on where you live and the type of care that you require, long-term care expenses can exceed $75,000 per year. 2 In some states, that cost of care can be much higher. At these rates, the choice to self-insure can be very challenging. A common misconception among people without Long- Term Care insurance (LTCi) may be that government health programs such as Medicare and Medicaid will cover these costs. While Medicare provides limited coverage for nursing home and home care services, it is designed to pay for the treatment of acute, short-term illness not ongoing care associated with Activities of Daily Living, 3 such as eating, bathing, and dressing. Therefore, Medicare s coverage of nursing home and home care services is very limited. Medicaid, a different program entirely, may cover ongoing costs associated with long-term care, but requires that recipients meet strict asset and income eligibility criteria and that care be restricted to Medicaidapproved services and facilities. Under the Long-Term Care Services SM Rider, you are generally eligible for benefits if a physician certifies that you need substantial assistance to perform at least two of the six Activities of Daily Living, which include: eating, bathing, dressing, toileting, continence and transferring, or if you have a significant cognitive impairment. 2 Gross, Jane. How Medicare Fails the Elderly. The New York Times, October 15, 2011. 3 As defined in the Internal Revenue Code Section 7702B. 1
The Long-Term Care Services SM Rider There is another way to help protect yourself and your family should you have a need for life insurance and eventually require long-term care. Consider purchasing the Long-Term Care Services SM Rider in conjunction with a new permanent life insurance policy. While life insurance ensures that loved ones will receive immediate funds in the event of your death, the Long-Term Care Services SM Rider allows you to accelerate some or all of the amount of a policy s death benefit called the Long- Term Care Specified Amount to help pay for qualified longterm care services. The Long-Term Care Services SM Rider is not a stand-alone LTCi policy, but it can provide funds for long-term care services should the need arise. Though the Long-Term Care Services SM Rider may not cover all costs associated with your care, it may certainly help defray the financial burden. Therefore, other than your life insurance policy, assets you have earmarked for retirement and bequests may be protected and can be used as you intended, rather than possibly being depleted to provide for your care. The maximum amount of benefits you can receive under the rider is the Long-Term Care Maximum Total Benefit, which is equal to the policy s initial Face Amount times the Acceleration Percentage selected by you, the policyowner, at issue. To understand how the Acceleration Percentage differs between Death Benefit Options A and B, please see the example in the call-out box. Since the benefit provided under the rider is an acceleration of a policy s death benefit, certain policy transactions, such as a reduction in the policy s Face Amount, can reduce the Long-Term Care Maximum Total Benefit. To be eligible for benefits under this rider, you must be chronically ill and receiving qualified long-term care services in accordance with a Plan of Care. The Elimination Period must be satisfied and we must receive notice of claim and satisfactory proof of loss. Services must be rendered by a facility or agency as defined in the rider. Pre-existing condition exclusions also apply. Please request the Outline of Coverage and Policy Rider Form for more information. Some restrictions may apply. See Limitations and Exclusions on the back cover of this brochure. Death Benefit Option Acceleration Percentage A 4 20 100% B 5 100% how it works Jack has a permanent life insurance policy with an initial Face Amount of $1 million and elects Death Benefit Option A 4 with an Acceleration Percentage of 50%. Therefore, his Long-Term Care Specified Amount at issue is $500,000. Stacy has a permanent life insurance policy with an initial Face Amount of $1 million and elects Death Benefit Option B. 5 For any policy with Death Benefit Option B, the Acceleration Percentage is always 100%. Therefore, her Long-Term Care Specified Amount at issue is $1,000,000. 4 For Death Benefit Option A policies, the Maximum Total Benefit is equal to current Long-Term Care Specified Amount. The policyowner may select an Acceleration Percentage between 20% and 100%. Once selected, the Acceleration Percentage may not be changed. 5 For Death Benefit Option B policies, the Acceleration Percentage must be 100% and the Maximum Total Benefit is equal to current Long-Term Care Specified Amount plus the Policy Account Value. 2 The Long-Term Care Services SM Rider
Choosing Your Coverage When you apply for the permanent life insurance policy and elect the Long-Term Care Services SM Rider, you will designate the Face Amount of life insurance needed, and the Acceleration Percentage to determine the Long-Term Care Specified Amount along with Monthly Benefit Percentage, which determines the maximum monthly benefit amount available under the rider. See the chart Minimum and Maximum Issue Ages for the Monthly Benefit Percentages: Maximum Face Amount at Issue 6 : 1% Issue ages 20 75 $5,000,000 2% Issue ages 20 75 $2,500,000 3% Issue ages 20 70 $1,666,666 for detail regarding the Monthly Benefit Percentage. If you begin collecting long-term care benefits, the amount of each payment will be treated as a lien against, and therefore, will reduce the policy death benefit, account value and cash value. There is an optional non-forfeiture benefit available with the Long-Term Care Services SM Rider for an additional cost. While the non-forfeiture benefit may provide an additional benefit in some cases, the charge for the Long-Term Care Services SM Rider including the non-forfeiture benefit will be higher than the charge for the rider without the nonforfeiture benefit. As with the decision to purchase any type of insurance product, check with your financial professional to see if a permanent life insurance policy with the Long-Term Care Services SM Rider may be able to work for you. 6 The Maximum Face Amount at Issue referenced in this chart assumes a policy includes the Long-Term Care Services SM Rider with an Acceleration Percentage of 100%.
If You Don t Use It, You Don t Lose It If you decide to add the Long-Term Care Services SM Rider to your permanent life insurance policy at issue and don t receive payments under the rider, the policy s entire net death benefit will pass to your beneficiaries when you die. In other words, if you do not use your long-term care protection, although you have paid the rider charge for the option to accelerate the death benefit, you haven t spent decades paying premiums for a policy that never pays any benefit at all. Additionally, if you begin collecting monthly benefits under the Long-Term Care Services SM Rider, but do not receive the full death benefit of your policy, the remaining death benefit will be paid to your beneficiaries at your death. The HIPAA limit for 2014 is $330 per day. This daily benefit limit is adjusted annually for inflation. For purposes of calculating the Maximum Monthly Benefit payment, we also apply a 200% of the HIPAA limit and assume a 30-day month. For 2014, this produces a benefit payment limit of $19,800 per month. There is an overall Maximum Monthly Benefit of $50,000. Protect What s Important If you were asked what s important to you, most likely you would name loved ones. That s why you intend to protect them by owning life insurance. Consider their response if asked the same question: they would most likely name you. Life insurance will help provide for the people who matter the most to you when you re gone. But think about what could happen if you are still living, yet unable to independently care for yourself the emotional impact would be great, but the same might be said for the financial impact. Help secure your family s financial future and yours with a combination of life insurance and the Long-Term Care Services SM Rider. Help protect what s important: the quality of their lives and yours. Long-Term Care Services SM Rider A life insurance policy with the Long-Term Care Services SM Rider provides a single strategy to meet your financial protection and death benefit needs. If needed, you can accelerate all or part of your policy s death benefit, which can be used to help pay for qualified long-term care expenses. Any part of the death benefit not accelerated as benefits provided under the Long-Term Care Services SM Rider will be paid to beneficiaries at the Insured s death. 4 The Long-Term Care Services SM Rider
LIMITATIONS AND EXCLUSIONS: (a) Preexisting conditions. This rider does not cover conditions for which the insured person received medical advice or treatment from a provider of health care services (or a condition for which treatment was recommended to the insured person by a health care provider) within six months preceding the effective date of this rider. No benefits will be provided under the rider during the first six months for long-term care services received by the Insured due to a preexisting condition. Days of Service received by, or recommended to, the Insured for a preexisting condition during the first six months that the rider is in force will not be counted toward the satisfaction of the Elimination Period. (b) Exclusions, Exceptions and Limitations. This rider does not cover services provided by a facility or an agency that does not meet the rider definition of such facility or agency. The rider does not cover care or treatment: From a facility that primarily treats drug addicts or alcoholics; From a facility that primarily provides domiciliary, residency or retirement care; From a facility owned or operated by a member of your or the insured person s Immediate Family; Provided by a member of the insured person s Immediate Family; From anyone who is under suspension from Medicare or Medicaid; If benefits are sought only because a third party requires that this rider be exercised (as, for example, to obtain or maintain a government assistance benefit); For an attempted suicide or intentionally self-inflicted injuries; As a result of alcoholism or drug abuse (unless drug abuse was a result of the administration of drugs as part of treatment by a Physician); Due to war (declared or undeclared) or any act of war, or service in any of the armed forces or auxiliary units; Due to committing or attempting to commit or participating in a felony, riot or insurrection; Received outside the United States unless the initial and any annual renewal certifications are completed by a U.S. Licensed Health Care Physician. For purpose of this exclusion, United States shall mean the 50 states, District of Columbia, Puerto Rico, and the U.S. Virgin Islands. This rider may not cover all the expenses associated with the Insured s long-term care needs. If your policy is subject to a loan, a portion of the monthly benefit payment will be applied to repay a portion of the outstanding policy loan. The purpose of this method of marketing is solicitation of insurance and contact may be made by an insurance agent, producer, insurance company or insurance agency. Actual terms and conditions of the Long-Term Care Services SM Rider are contained in Rider Form ICC12-R12-10. This rider has exclusions and limitations under which the rider may be continued in force or discontinued. It may not be available in all jurisdictions. For more information, costs and complete details of coverage, contact your life and health insurance licensed financial professional or the company. The product brochure for the applicable life insurance policy must accompany this Long-Term Care Services SM Rider brochure and the Long-Term Care Services SM Rider Planning Perspective. In the case of a variable life insurance policy, this material must be preceded or accompanied by the applicable current variable life insurance prospectus and applicable prospectus supplements, which contain more complete information about the policy, including risks, charges, expenses and investment objectives. You should review the prospectus and consider the information carefully before purchasing a policy. Life insurance products are issued by AXA Equitable Life Insurance Company (AXA Equitable), New York, NY, or affiliate MONY Life Insurance Company of America (MONY America), an Arizona Stock Corporation, main administrative offices in Jersey City, NJ. MONY America is not licensed to do business in New York. Life insurance products are co-distributed by AXA Advisors, 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. For complete details regarding rider costs of coverage, call your Financial Professional. The issuing life insurance company has sole financial responsibility for its own obligations. The rider is intended to be federally tax-qualified. AXA is the brand name of AXA Equitable Financial Services, LLC and its family of companies, including AXA Equitable Life Insurance Company (NY, NY), MONY Life Insurance Company of America (AZ stock company, administrative office: Jersey City, NJ), AXA Advisors, LLC, and AXA Distributors, LLC. AXA S.A. is a French holding company for a group of international insurance and financial services companies, including AXA Equitable Financial Services, LLC. This brand name change does not change the legal name of any of the AXA Equitable Financial Services, LLC companies. The obligations of AXA Equitable Life Insurance Company and MONY Life Insurance Company of America are backed solely by their claims-paying ability. RIDER FORM: ICC12-R12-10. Long-Term Care Services SM is a service mark of AXA Equitable Life Insurance Company. 2014 AXA Equitable Life Insurance Company and MONY Life Insurance Company of America. All rights reserved. 1290 Avenue of the Americas, New York, NY 10104, (212) 554-1234 G32965 ICC14-GE-92771 (5/14) (Exp. 5/16) Cat. #149817 (5/14)
one product, two needs a comparison of important features of life insurance with leading long-term care riders About Long-Term Care Services Riders AXA Equitable and MONY Life Insurance Company of America (MLOA), as well as several other life insurance carriers, offer a long-term care services rider with some fixed and variable life insurance policies for an additional charge. In order for a client to qualify, he or she must first have a need for the life insurance protection. The different needs for life insurance can vary greatly. Needs that would prompt the purchase of life insurance might include leaving a legacy, income replacement, mortgage protection or the need to care for elderly parents. There are several types of life insurance products available, including term insurance, universal life and whole life insurance and variable life insurance. Term insurance, a protection only life insurance product, provides a death benefit for a specified term of years for a specified premium. Whole life or universal life products are forms of permanent insurance. Permanent coverage provides death benefit protection but it also builds cash value inside the policy. Variable universal life insurance is another form of permanent life insurance. A client has the opportunity to invest in different variable options that can be selected based on their individual circumstances and risk tolerance. There are fees and charges associated with a variable life contract that may include mortality and expense risk charges, administrative fees, investment management fees, surrender charges, and charges for optional riders. Long-Term Care Services SM Rider (LTCSR) By adding the Long-Term Care Services SM Rider (LTCSR) to a life insurance policy, you can help protect client s assets in a most effective way, as an accelerated death benefit. Sale of a variable universal life insurance product requires the use of the appropriate current product prospectus and underlying fund prospectuses that contain information about the policy and its investment options, investment objectives, fees and expenses. Please be sure to have your clients read each prospectus carefully before investing or sending money. Once the need for life insurance has been established, it is important to look at the different features individual riders may offer. Below you will find our Long-Term Care Services SM Rider compared to four top competitors. Remember, a long-term care services rider s benefits are paid as accelerated death benefits. The riders may advance all or a portion of a policy s death benefit for qualified coverage. Check with each carrier for details. For Financial Professional Use Only. Not for Use with, or Distribution to, the General Public.
As you will notice, there are some important differentiators between AXA and the competition. Feature AXA Equitable LIfe Insurance Company/MLOA John Hancock Life Insurance Company (U.S.A) Prudential Financial Nationwide Mutual Insurance Company Issue Ages 20 75 20 75 20 80 21 80 20 80 Protective Life Corporation Benefit Type Indemnity Reimbursement Indemnity Indemnity Indemnity Monthly Benefit Percentages 1%, 2%, 3% 1%, 2%, 4% 2% 2% N/A Monthly Benefit Amount Lesser of LTC specified amount times 1%, 2%, or 3% (maximum of $50,000 per month) or 200% of HIPAA per diem limit (100% in NY) on a monthly basis. Lesser of maximum monthly benefit (monthly benefit times LTC DB, with a maximum of $50,000 per month) or actual qualifying LTC expenses. Lesser of lifetime benefit amount at time of claim times 2% or 100% of HIPAA per diem amount on a monthly basis capped at 4%. Lesser of LTC specified amount times 2% and 100% of HIPAA per diem limit on a monthly basis. Any amount between $1,000 and $9,900 selected at the time of issue. Cannot exceed 5% of base policy Face Amount. Maximum monthly benefit may not exceed monthly equivalent of per diem limitations declared by the IRS. Allow Permanent and Temporary Claims If a Policy Is a MEC, LTC charges may be taxable Elimination Period Yes 1 Yes No. Need qualifying services expected to last for rest of Insured s lifetime. No 1 No No No Yes 90 days (can be met with more than one claim over a 730-day period). 100 days (unlimited time) None 90 days (can be met with more than one claim over a 730-day period). Claims Outside U.S. Possible No Possible Possible Possible Yes No. Need qualifying services expected to last for rest of Insured s lifetime. 90 days or 1 year. Selected at issue. Choice of Acceleration Percentage of Face Amount with Option A Yes Yes Yes Yes No LTC Benefit with True Option B Yes No Yes No No Lapse Protection Guarantee while on claim Yes Nursing Home Only except in a few states; also by adding Long-Term Care Continuation Rider for an additional cost. Yes Yes Yes Residual Death Benefit No No, unless Long-Term Care Continuation Rider added for an additional cost. No Yes, in most states. 10% of Policy Specified Amount. No 1 May differ in select states. Important Note: There is an additional charge for a long-term care services rider that will vary by issuing company and underwriting class. Please see individual product specifications for details.
Pacific Life s Long-Term Care (LTC) Rider (Premier Living Benefits Rider) Male Age 45 Preferred Plus Nonsmoker Pacific Life s LTC Rider is called Premier Living Benefits Rider. Some of its features include: Benefit Payment Death Benefit Total Impact to Death Benefit Ratio of Total Impact to DB to Benefit Payout Available to insureds ages 18 75 who qualify from an underwriting perspective; No additional charge; No elimination period (our LTCSR has a 90-day elimination period); Allows LTC claims outside the U.S. to be paid under some circumstances, as does our LTCSR; and Similar to our LTCSR, it uses an indemnity approach to paying out benefits. Because there is no charge for the rider, Pacific Life reduces the death benefit by an amount greater than any LTC benefits paid out. This is called discounting. By contrast, we charge for the LTCSR and reduce the death benefit dollar-for-dollar in terms of any LTC benefits provided. Pacific Life s practice is particularly important if the insured goes on claim well before life expectancy. In paying out LTC benefits, Pacific Life uses a complex formula that appears to take into account the point in time the LTC claim occurs compared to when the insured s life expectancy is and applies the discounting factor against the death benefit. As such, an LTC claim at age 55 will reduce the death benefit substantially more than an LTC claim at age 75 or 85. These results vary depending on the insured s gender, age, policy account value and underwriting class. Thus, the policyowner at issue has a substantial element of uncertainty that is not inherent in our LTCSR regarding how large the reduction in death benefit will be if any LTC claim occurs. The following table illustrates the potential annual LTC benefit and the impact that payment has on the policy s death benefit at several trigger ages. This example uses a policy with a face amount of $1,000,000 issued to a 45-year-old Preferred Nonsmoker Male. As the table clearly demonstrates, our death benefits are reduced dollar for dollar while PacLife s, depending on the trigger ages, can be over two times the actual payout. AXA/ MLOA PacLife At age 55 $120,000 $880,000 $120,000 1 to 1 At age 65 $120,000 $880,000 $120,000 1 to 1 At age 75 $120,000 $880,000 $120,000 1 to 1 At age 55 $103.848 $760,000 $240,000 2.3 to 1 At age 65 $105,563 $760,872 $239,128 2.3 to 1 At age 75 $150,563 $825,673 $174,327 1.2 to 1 Female Age 45 Preferred Plus Nonsmoker AXA/ MLOA PacLife Benefit Payment Death Benefit Total Impact to Death Benefit Ratio of Total Impact to DB to Benefit Payout At age 55 $120,000 $880,000 $120,000 1 to 1 At age 65 $120,000 $880,000 $120,000 1 to 1 At age 75 $120,000 $880,000 $120,000 1 to 1 At age 55 $84,339 $760,000 $240,000 2.8 to 1 At age 65 $123,489 $760,000 $240,000 1.9 to 1 At age 75 $150,563 $797,416 $202,584 1.3 to 1 The Premier Living Benefits Rider allows the policyowner to choose an annual payout or monthly payout with a maximum accelerated death benefit of $1.5 million. The maximum annual payment is 24% of the death benefit or, if less, the policyowner s choice of 100% or 125% of the annualized IRS per diem long-term care benefit (125% is the default). The maximum monthly benefit is 2% of the death benefit at time of claim or, if less, the policyowner s choice of 100% or 125% of the monthly IRS per diem (125% is the default). Subject to these limits, a true Option B LTC benefit similar to what we offer with the LTCSR is available.
Pacific Life s LTC Rider is not tax qualified. In order to receive benefits through PacLife s rider, the qualifying condition must be certified by a Licensed Health Care Practitioner and is expected to be permanent. Tax-qualified LTC riders like ours can pay benefits on temporary claims that last past the elimination period even though the claim is likely not to last for life. Regardless of tax code status, the insured must be recertified annually with either rider. Provision Allow insured to specify percentage of coverage based of face amount AXA Equitable/ MLOA Yes PacLife Available with Death Benefit Option B plans Yes Yes Offers true Death Benefit Option B benefit Yes Yes 1 Allows insured to select from multiple benefit payout options (ex. 1%, 2%, 3% of total benefit) Provides up to $5 million of benefit Yes No Provides Lapse Guarantee while on claim Yes No 1 Pacific Life s benefits are determined by a complex formula that is impacted by a number of factors, including the account values and the death benefit at the time of the claim. As such, an increasing death benefit option may increase the benefit over that of a comparable level face amount. Yes No No AXA Equitable/MLOA, Prudential Financial, Nationwide, and Protective have LTCS riders that provide an indemnity plan, which means: Payments are made directly to the policyowner. No bills need be submitted to the insurance company. The long-term care benefit payment may be tax-free (reimbursement is also tax-free) and is sent on a monthly basis to the policyowner. The policyowner can choose to take the full amount of the long-term care benefit they qualify for, even if the Insured s long-term care bills are less than their benefit amount. One of the benefits of the indemnity approach offered by our LTCSR is that the policyowner maintains control of the amount of the LTC benefit payment and also enjoys a substantial amount of flexibility: Policyowner selects how much of the monthly benefit is received, up to the benefit maximum. Although the Insured needs to be receiving care from a licensed care facility or service, excess benefits not needed to pay for long-term care expenses can be used for any other purpose. The policyowner can choose to receive less of the long-term care benefit than they are eligible for. By doing this, the policyowner may be able to receive long-term care benefits over a longer period of time. The policyowner can terminate both the Pacific Life LTC Rider and our LTCSR by writing the insurance company and requesting termination of the rider. Be sure to learn the differences between each type of Long-Term Care Services Rider to offer clients the most impactful addition to their life insurance policy.
For More Information on AXA Equitable s Life Insurance Products with the Long-Term Care Services SM Rider, Please Contact the Life Insurance Sales Desk or Visit www.axa.com. All long-term care service riders have restrictions and limitations. The information provided above is based on the most recent product illustrations and brochures and is believed to be accurate at time of publication. Be sure to review the product specifications for all products to further determine a client s eligibility and limitations of the policy. A client may qualify for the life insurance but not the rider. This document is not intended as legal or tax advice. Accordingly, any tax information provided in this document 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 inform your clients to seek advice based on their particular circumstances from an independent tax advisor. Long-Term Care Services SM Rider benefits are triggered when AXA receives certification that the insured person is chronically ill and receiving Qualified Long-Term Care Services pursuant to a plan of care. There is a 90-day Elimination Period beginning the first day of any Qualified Long-Term Care Services being provided. Only one complete Elimination Period needs to be met while the policy is in force. The 90 days of the Elimination Period do not need to be consecutive; however, they must be satisfied within a 24-month period. For monthly benefits to continue, the Insured must be recertified for eligibility at least every 12 months. Life insurance products are issued by AXA Equitable Life Insurance Company (AXA), New York, NY, or affiliate MONY Life Insurance Company of America (MLOA), an Arizona Stock Corporation, with main administrative offices in Jersey City, NJ. MONY America is not licensed to do business in New York. Life insurance products are 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. AXA is the brand name of AXA Equitable Financial Services, LLC and its family of companies, including AXA Equitable Life Insurance Company (NY, NY), MONY Life Insurance Company of America (AZ stock company, administrative office: Jersey City, NJ), AXA Advisors, LLC, and AXA Distributors, LLC. AXA S.A. is a French holding company for a group of international insurance and financial services companies, including AXA Equitable Financial Services, LLC. This brand name change does not change the legal name of any of the AXA Equitable Financial Services, LLC companies. The obligations of AXA Equitable Life Insurance Company and MONY Life Insurance Company of America are backed solely by their claims-paying ability. 2014 AXA Equitable Life Insurance Company. All rights reserved. 1290 Avenue of the Americas, New York, NY 10104, (212) 554-1234 G33107 IU-93579 (7/14) (Exp.7/16) Cat. #150396 (7/14) For Financial Professional Use Only. Not for Use with, or Distribution to, the General Public.