• Designed for affordable protection
  • Robust investment options
  • Flexible premiums
  • VUL Legacysm is designed for individuals looking for affordable permanent life insurance who also want to put their premium dollars to work via market-sensitive investment options. 

    You can choose how your premiums are invested by allocating them among a wide array of stock, bond, international and money market subaccount investment options. 

    Our investment options are managed by over 45 well known and respected investment management firms.

  • You can also choose to invest a portion of your premiums in AXA Equitable’s innovative investment option, the Market Stabilizer Option®(MSO). 

    The MSO, available for an additional fee, offers growth potential (up to a cap) as well as some downside protection, which may help you to address volatility concerns in your variable life insurance policy.  While clients are protected from some downside risk, if the negative return is in excess of the Downside Protection, there is risk of substantial loss of principal.

    For those seeking more stability, we also offer a guaranteed interest option (GIO). 

Want more details on how this product may help you? Talk to a financial professional

Life Insurance protection

VUL Legacysm III is a flexible premium variable universal life insurance policy designed to provide cash to your beneficiaries upon your death so that they may use it to help preserve their quality of life.

There are fees and charges associated with VUL Legacysm III including mortality and expense risk charges, administrative fees, investment management fees, surrender charges, and charges for optional riders. Additionally, VUL Legacysm III and its riders have restrictions and limitations.

Growth potential: Variable investment options 

VUL Legacysm III offers you the opportunity to direct how a portion of your premium payments and Policy Account Value are invested among a wide array of investment options that include equity portfolios, bond portfolios and a money market portfolio. These portfolios are sub-advised by some of the industry's most well-known money managers.

Note: Variable life insurance policy values are not guaranteed, will fluctuate based on performance of the underlying investments, and may be worth more or less than the premiums paid.

Market Stabilizer Option® (MSO)

Our new and innovative indexed investment option - the Market Stabilizer Option® - offers growth potential (up to a cap) and some downside protection against declines in the market, which can help you address market volatility and reduce or potentially eliminate losses.  Downside protection is limited.

By reducing volatility and potential losses, within your contract, the Market Stabilizer Option® can provide a level of comfort at times when the market is unpredictable and protect your policy’s cash value from extreme fluctuations.

The Market Stabilizer Option® has a charge of 1.40%. It may not be an available investment option with certain riders. Also, it may be impacted when certain riders are exercised. It is subject to market risk including loss of principal. Please consult the prospectus for additional details.

VUL Legacysm III and the Market Stabilizer Option® are sold by prospectus only that includes complete information on investment options, charges, and expenses.  You should read it carefully before investing or sending money.  Please use the link above to read the current prospectus.
There is a risk of substantial loss of the principal invested because the policy owner agrees to absorb all losses from the portion of any negative index performance that exceeds the downside protection limit.
Early withdrawals from the Market Stabilizer Option® can expose a policy owner to risk of potentially substantial loss of principal. 

Guaranteed Interest Option (GIO)

For those looking for more stability, we also offer a guaranteed interest option (GIO).

All guarantees and contractual engagements are based solely on the claims-paying ability of the issuing life insurance company.

Premium flexibility

Premium payments are flexible. After your initial payment, you can choose the amount and timing of your premium payments (subject to certain minimums and maximums).

Coverage flexibility

Face Amount increases and decreases are available after the first policy year. Face Amount increases may require additional underwriting and Face Amount decreases may be subject to surrender charges. Please read the prospectus for more details.

Death benefit options

VUL Legacysm III 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 in the death benefit option are available at no charge after the first policy year.

 Tax advantages

  • Any cash value growth is generally tax deferred
  • Death Benefits generally are federal-income-tax free to beneficiaries
  • Generally, you can borrow money from your policy without any current income tax consequences
  • Transfer money between investment options income-tax free.
Note: Loans and withdrawals reduce the face amount of the policy and increase the chance a policy may lapse, and may trigger tax consequences. 

Transfers may be limited in certain circumstances and restrictions may apply to prevent disruptive transfer activity.

No-Lapse Guarantee (NLG)

This benefit guarantees that your policy will not lapse for a certain number of years. The length of the guarantee period is 5 to 10 years depending on the Insured's age when we issue the policy. Please read the prospectus for information on limitations and restrictions.

Paid-up death benefit guarantee

For no charge and after the fourth policy year, you may elect to "lock in" a Guaranteed Minimum Death Benefit. Please read the prospectus for limitations on this guarantee. 

Choice of riders

Depending on your current or anticipated future needs, you can tailor your IncentiveLife Legacy® III policy by taking advantage of a selection of optional policy riders that are available for an additional cost. For more detailed information, please refer to the prospectus and fact card above.

Fees and charges

There are fees and charges associated with variable universal life policies, including cost of insurance charges, surrender charges, administrative and investment management fees, mortality and expense risk charges, and charges for optional benefits. For more detailed information, please refer to the prospectus and fact card above.

Download client brochure 

Variable investment options

Growth potential

Our variable investment options offer the opportunity to direct how life insurance premium payments are invested among a wide array of stock, bond, international and money market investment options.

This access provides an opportunity for growth of your account value. Please keep in mind that variable investment options are subject to fluctuations in value and market risk, including loss of principal.


Evaluating investment options has never been easy. And in today’s investment environment, where investors have literally thousands of choices, you need an experienced guide.

Through a multiple-step selection process, we systematically narrow the universe of money management firms to identify money managers that are best suited to meet specific investment goals.

Many of our money managers are household names you’re sure to recognize. Others are better known among large institutional investors.


Our variable investment option platform is designed to help meet the needs of a wide variety of investors, while being responsive to an ever-changing market environment. We offer a carefully selected menu of investment options that meets the needs of diversification-minded investors, while accommodating individual preferences and risk appetites.


For investors who want a simplified approach to building a diversified portfolio, a series of asset allocation portfolios are available. Each portfolio is constricted as a “funds-of-funds,” diversified by AXA Equitable’s team of investment specialists. With one simple investment, you gain access to the combined performance of multiple portfolios. The Benefits of AXA Strategic Allocation Portfolios Managed by AXA Equitable

Tailored to Meet Your Goals — you can pursue your individual goals based on your personal risk tolerance

  • Convenient — you get a well-diversified investment program in a single portfolio
  • Professionally managed — portfolios are rebalanced regularly by trained professionals to keep your investment on track

Please note that AXA Strategic Allocation Portfolios entail fees and costs in addition to the fees and costs incurred in the Portfolios' underlying investment earnings.

Access to other portfolio choices
To supplement our proprietary lineup of EQ Advisors Trust and AXA Premier VIP Trust portfolios, many AXA Equitable variable products offer additional choices of manager brands and investment styles. These portfolios do not include the "EQ" or "AXA" brand. While AXA Equitable has no direct authority over the management and operations of these portfolios, we provide input through an analysis and selection of each portfolio. Ongoing portfolio performance is also routinely monitored by our team of dedicated fund professionals.

As many investors have learned, a portfolio manager can suddenly leave a firm, or deviate from his or her investment style in pursuit of short-term returns. Many times these changes occur without the investors’ knowledge, which could alter the course of a disciplined investment strategy.

That’s why our seasoned team of investment professionals continuously “manages the managers” once they have been selected. This is a dynamic process that holds each money manager accountable and keeps them focused on delivering consistent, long-term results.


IncentiveLife Legacy® III variable universal life insurance is offered by prospectus. This information must be accompanied by a current prospectus, which contains more information about the policy including risks, charges, expenses and investment objectives. You should read the prospectus and consider the information carefully before purchasing a policy.

1 Under current federal tax rules, you generally may take income-tax-free partial withdrawals under a life insurance policy that is not a Modified Endowment Contract (MEC), up to your basis in the contract. Additional amounts are includible in income. 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 and MEC policyholders may be subject to taxes on distributions on an income-first basis, that is, to the extent there is gain in the policy and penalties on any taxable amount if they are not 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.

Guarantees described herein are subject to the claims-paying ability of the issuing insurance company, AXA Equitable Life Insurance Company or MONY Life Insurance Company of America. The guarantees do not apply to the investment portfolios.

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 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.

Please be advised that this web content is not intended as legal or tax advice. Accordingly, any tax information provided on this web page 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 tax payer. 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.

VUL Legacysm III, a flexible premium variable universal life insurance policy, 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 the main administrative office in Jersey City, NJ. Co-distributed by AXA Advisors, LLC and AXA Distributors, LLC, (members FINRASIPC ).

Life insurance is subject to exclusions, limitations and terms for keeping it in force. Your financial professional can provide you with costs and complete details.

AXA Equitable, MONY America, AXA Distributors and AXA Advisors are affiliated companies and do not provide tax or legal advice.

Certain types of contracts, features and benefits may not be available in all jurisdictions. This is not a complete description of IncentiveLife Legacy® III Product.

VUL Legacysm III and Market Stabilizer Option® are registered marks of AXA Equitable Life Insurance Company.

Policy form #ICC 09-100 or state variations

GE-93737 (07/2016)

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