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EQUI-PATH 403(b) Mutual Fund

  • Upside potential
  • Partial downside protection
  • Tax-deferred financial product

Structured Capital Strategies is a variable and index-linked deferred annuity contract designed to balance your personal risk tolerance with your desire to access growth potential by combining protection features with opportunities to invest for growth.

Get started with Structured Capital Strategies with 3 easy steps:

1. Protect a Portion of Your Assets                 2. Investment Opportunities                 3. Select your Preferences

Click here for Performance Cap Rates and for our free web-app and iPad app.

Are you worried about the market? Are you afraid of not meeting your retirement goals? You are not alone and AXA is here to help.

Structured Capital Strategies® can help you build long-term wealth with a tax-deferred structured growth strategy that includes a built-in protection feature providing you the opportunity to invest for growth up to a Performance Cap Rate with some downside protection. You are protected from some downside risk. If the negative return is in excess of the Segment Buffer, there is risk of significant loss of principal.

What is Structured Capital Strategies®?

Structured Capital Strategies® is a variable and index-linked deferred annuity contract and is a long-term financial product designed for retirement purposes. Simply stated, an annuity is a contract between you and an insurance company that lets you pursue the accumulation of assets through equities and other investment options. You may then take payments or a lump sum amount at a later date.

How It Works:

The Structured Investment Option permits an investor to invest in one or more Segments, each of which provides performance tied to the performance of a securities or commodities index for a set period (1,3, or 5 years) up to a Performance Cap Rate.

Once you have selected a suitable index that is tracked in the Structured Investment Option (SIO), you now have the ability to choose the segment duration and a segment buffer.

The Segment Buffer - The built-in protection feature, in which AXA Equitable will absorb up to the first -10%,-15% -20%,-25% or -30% of any loss. You will absorb the loss in excess of your segment buffer. You are protected from some downside risk. If the negative return is in excess of the Segment Buffer, there is risk of significant loss of principal.
Segment Duration - The Segment Start Date to Segment Maturity Date, available in one, three and five years.
The Segment Type - The combination of the index option, duration and buffer you choose is what distinguishes your investment options.
Choice Segment - Generally have higher Performance Cap Rates- and thus greater potential Segment performance than corresponding Standard Segments, while also offering buffer protection levels of -10%, -15%, -25%.

 

Generally falling on the 15th of the month,2 the segment is established. Keep in mind, once your money is invested in a segment, you cannot transfer from the segment into another investment option until segment maturity.
The segment start date is also the same day the segment’s performance cap rate is set by AXA. The performance cap rate is the ceiling on the segment’s rate of return. For example, if the index rate of return is 22% and the performance cap rate is 20%, your actual segment rate of return would be 20%.
Because the performance cap rate will not be known until your money is transferred into a segment, which means you will not know in advance the upper limit on the return, you may set a performance cap threshold. Simply stated, the performance cap threshold is the minimum cap you require of a segment before investing in it. If your performance cap threshold is higher than the segment’s performance cap rate, your money will continue to be held in the segment type holding account until it is met or the entire account value is transferred out of the Segment Type Holding Account. The Performance Cap Rate Threshold remains in effect for 3 scheduled Start Date opportunities. If at the end of the 3rd opportunity the requested threshold is not met, any money in the Segment Holding Account will be swept on the next Segment Start Date that the Segments become available. For contracts issued on or after August 25th, 2014, a Performance Cap Threshold will remain in effect until after the third scheduled Segment Start Date following your Performance Cap Threshold election. For policies issued prior to August 25th, 2014, the Performance Cap Threshold is active for 90 days or if later, until amounts are swept into a new Segment. Setting a Performance Cap Threshold is not required. 
There is a risk of a substantial loss of your principal because you agree to absorb all losses to the extent they exceed the protection provided by the Structured Investment Option at maturity. If you would like guarantee of principal, we offer other products that provide such guarantees.
When your segment matures, you have the following options available to you on the date of maturity.
  • Transfer to the same segment type: Your maturity value can be transferred to the holding account of the same segment type for investment into the next available segment. If no action is taken by you, this option is your default.
  • Transfer to a new segment type: Your maturity value can be transferred into the holding account(s) of a different segment type(s) chosen by you for investment on the segment start date.
  • Transfer to the variable investment options: Your maturity value can be transferred into the variable investment options of your choice.
At maturity, your segment maturity value is calculated using your segment rate of return, which is based on the index’s performance rate of return, adjusted by the segment buffer or performance cap rate. Keep in mind, your segment performance is not an annual rate of return, but is measured from the day you invest to the day your segment matures. It is important to know that you may lose principal if a negative return is in excess of the segment buffer.
At any time you have the option to withdraw your money. Withdrawals may be subject to contractual withdrawal charges, normal income tax treatment, may be subject to an additional 10% federal income tax penalty and subject to a segment interim value. Please refer to the prospectus for more detailed information on the segment interim value. The segment interim value is the value of your investment prior to the segment maturity date. The segment interim value may be lower than your original investment in the segment even where the index is higher at the time of the withdrawal, prior to the maturity, than at the time of the original investment. Partial withdrawals are permitted. Unless otherwise requested, withdrawals are taken in the following order on a pro-rata basis:
  • Variable investment options (VIOs)
  • Segment type holding account(s)
  • Dollar Cap Averaging Account (DCA)
  • Segment(s)
For information about AXA’s Performance Cap Rates, click here.  
 
Your Segment Rate of Return may be limited by the Performance Cap Rate, which may be lower than it would otherwise be if you invested directly in the applicable index. The Performance Cap Rate is not known before the Segment starts. Therefore, you will not know in advance in the upper limit on the return that may be credited to your Segment. Negative consequences may apply, if for any reason, amounts invested in a Segment are removed before the Segment Maturity Date. AXA Equitable, upon advance notice to you, may discontinue, suspend or change contributions and transfers among investment options, Segment offerings, or make other changes in contribution and transfer requirements and limitations.
Withdrawals from an annuity contract are taxable as ordinary income, not as capital gain and, if made prior to age 59½, may be subject to an additional 10% federal income tax penalty. Withdrawals may also be subject to contractual withdrawal charges. The contractual withdrawal charge declines from 5% over a five-year period for the Structured Capital Strategies® Series B version. For tax purposes, withdrawals will come from any gain in the contract first. See the Structured Capital Strategies® Fact Card and Prospectus for additional information on fees and charges associated with Structured Capital Strategies®.
AXA Equitable Life Insurance has sole legal responsibility to pay amounts it owes under the contract. An owner should look to the financial strength of AXA Equitable for its claims-paying ability.
The Structured Investment Option can protect some downside risk but if the negative return is in excess of the protection level there is a risk of substantial loss of your principal because you agree to absorb all losses to the extent they exceed the protection provided by the Structured Investment Option at maturity. If you would like a guarantee of principal, we offer other products that provide such guarantees.
The Structured Investment Option contains the ability to track equity and commodity indices. The Structured Investment Option does not involve an investment in any underlying portfolio. Instead, it is an obligation of and subject to the claims paying ability of AXA Equitable Life Insurance Company.
Certain types of contracts and features will not be available in all jurisdictions. We offer other variable annuity contracts with different fees, charges and features. Not every contract is available through the same selling broker/dealer.
This is not a complete description of Structured Capital Strategies. Annuities contain certain limitations and restrictions. For costs and complete details, contact a financial professional. 

1 Not available in all firms and jurisdictions.

The Segment Start Date may be delayed by holidays or other events that may affect the exchanges on which the indices are traded.

With Structured Capital Strategies® you can invest up to a Performance Cap Rate to potentially grow wealth for retirement, while still protecting a portion of your assets. Balance Risk versus reward by tracking up to nine indices, ranging in exposure from large cap to small cap asset classes.

Performance Cap Rate - The maximum potential ceiling or cap, that you may get from index gains. To learn more about the different Structured Investment Options, click on an investment option and find out if this is the best option for you.

  
                  Invest for Growth - Hypothetical Example

It should be noted that there is risk of substantial loss of principal because the investor agrees to absorb all losses that exceed the level of protection provided by the Structured Investment Option at maturity.

 

If you are looking for even more growth potential, Structured Capital Strategies® now offers Choice Segments, which allow you to obtain generally higher Performance Cap Rates and still choose a protection level of -10%, -15%, or, -25%. Choice Segments are ideal for those willing to a trade a small portion of their initial performance in exchange for a higher ceiling for growth.

Structured Investment Options:

S&P 500 Price Return Index

The S&P 500 Index comprises of 500 of the largest companies in leading industries of the U.S. economy. Larger, more established companies may not be able to attain potentially higher growth rates of smaller companies, especially during extended periods of economic expansion.

Russell 2000® Price Return Index

The Russell 2000® Index tracks the performance of small-cap companies. Stock of small and mid-size companies have less liquidity than those of larger companies and are subject to greater price volatility than the overall stock market. Smaller company stocks involve a greater risk than is customarily associated with more established companies.

NASDAQ-100 Price Return IndexSM 1

The NASDAQ-100 Price Return IndexSM includes 100 of the largest domestic and international non-financial securities listed on the NASDAQ Stock Market based on market capitalization. The Index reflects companies across major industry groups, including computer hardware and software, telecommunications and biotechnology. Non-diversified investing may be focused in a smaller number of issues or one sector of the market that may make the value of the investment more susceptible to certain risks than diversified investing.

MSCI EAFE Price Return Index

The MSCI EAFE Index is a sampling of securities deemed by MSCI as designed to measure the equity market performance of the developed European, Australasian and Far East (EAFE) markets. This index is comprised of over 1000 international stocks from 22 countries. Australasia includes Australia, New Zealand and neighboring islands of the South Pacific. International securities carry additional risk, including currency exchange fluctuation and different government regulations, economic conditions or accounting standards.

MSCI Emerging Markets Price Return Index

The MSCI Emerging Markets Price Return Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of 21 emerging market country indices, including Brazil, Russia, India, China and others in Southeast Asia, Eastern Europe, Latin America and Africa. International securities carry additional risks, including currency exchange fluctuation and different government regulations, economic conditions and accounting standards.

Financial Select Sector SPDR Fund

Seeks to closely match the returns and characteristics of the Financial Select Sector Index, which is the underlying index. The underlying index seeks to provide an effective representation of the financial sector of the S&P 500 Index, and includes companies from the following industries: commercial banks, capital markets, diversified financial services, insurance and real estate. The Financial Select Sector Index may not fully replicate or may, in certain circumstances, diverge significantly from the performance of the index. Non-diversified investing may be focused in a smaller number of issues or one sector of the market that may make the value of the investment more susceptible to certain risks than diversified investing.

iShares® Dow Jones U.S. Real Estate Index Fund

The iShares® Dow Jones U.S. Real Estate Index Fund seeks investment results that correspond generally to the performance of the Dow Jones U.S. Real Estate Index. The Index measures the performance of the Real Estate industry of the U.S. equity market, including real estate holding and developing and real estate investment trust (REITS) subsectors. The investment performance of the iShares® Dow Jones U.S. Real Estate Index Segment is based only on the closing share price of the Index Fund. The iShares® Dow Jones U.S. Real Estate Index Segment does not include dividends declared by the Index Fund. Non-diversified investing may be focused in a smaller number of issues or one sector of the market that may make the value of the investment more susceptible to certain risks than diversified investing.

London Gold Market Fixing Ltd. PM Fix Price/USD1

The London Gold Market Fixing Ltd. PM Fix Price/USD is an international benchmark for the price of Gold. Because this Investment Segment is tracked to the commodities industry it can be significantly affected by commodity processes, world events, import controls, worldwide competition, government regulations and economic conditions. Apart from the risk associated with general commodity investing, there are risks to investing in the common stocks of commodity producing companies. You should be willing to accept the risks that come with exposure to foreign and emerging markets, including political, economic and currency volatility.

NYMEX West Texas Intermediate Crude Oil Generic Front Month Futures1

On the New York Mercantile Exchange, the West Texas Intermediate Crude Oil Generic Front Month Futures is the underlying commodity index of oil futures contracts. Risks involved with futures contracts include imperfect correlation between the change in the market value of the stocks held in the portfolio and the prices of futures contracts and options, and the possible lack of a liquid secondary market for futures or options, and the resulting inability to close a futures contract prior to its maturity date. Also, index options, over-the-counter options and options on futures are exposed to additional volatility and potential losses.

Variable Investment Options1

Depending on your investment outlook and risk tolerance, you may elect to invest in one or more of the Variable Investment Options. Unlike the Structured Investment Option, these investments do not have a built-in protection feature. These Variable Investment Options are subject to market risk, including loss of principal. Also, there are fees associated with these options, however, you still benefit from tax deferral.

  • EQ/Equity 500 Index portfolio
  • EQ/Core Bond Index portfolio
  • EQ/Money Market Index portfolio

Dollar Cap Averaging (DCA)

Dollar Cap Averaging Program (DCA) is a service designed to reduce investment timing decisions by systematically investing in any of the available Segments over a period of either three or six months. The Program invests in the Dollar Cap Averaging Account, which is part of the EQ/Money Market variable investment option. The Dollar Cap Averaging Account has the same rate of return as the EQ/Money Market variable investment option. The Program allows you to gradually allocate amounts to available Segment Type Holding Accounts by periodically transferring approximately the same dollar amount to your selected Segment Type Holding Accounts. Regular allocations to the Segment Type Holding Accounts will allow you to invest in the Segments at different Performance Cap Rates. This plan of investing, however, does not guarantee that you will earn a profit or be protected against losses. We may, at any time, exercise our right to terminate transfers to any of the Segment Type Holding Accounts, limit the number of Segments that you may elect or discontinue offering the Program. You may not specify a Performance Cap Threshold if you elect to invest in the DCA.

Pre-Packaged Segments

Structured Capital Strategies® Pre-Packaged Segment Selections enable you to diversify your investments across multiple securities. Diversification is important because it may lower overall portfolio risk. Consider the ease of investing in multiple asset classes with the simplicity of Structured Capital Strategies® Pre-Packaged Segments. There are three Pre-Packaged Segment Selections to choose from, offering more exposure to the Large Cap asset class through the S&P 500 and NASDAQ 100, or more exposure to the Small Cap and International asset class through the Russell 2000, MSCI EAFE and Emerging Markets allocations. Each Pre- Packaged Segment Selection consists of several Segments, each of which represents a specific percentage of your contribution.

Are you experiencing down market fears?

Not to worry Structured Capital Strategies® allows you to decide how much protection is right for you. Depending on the Segment preferences you elect, AXA Equitable promises to absorb a certain portion of potential loss up to -30%.* After selecting a level of protection, you can have peace of mind in knowing AXA Equitable will cushion a portion of your investment from market dips at maturity.

Protect Your Assets - Hypothetical Example

*You are protected from some downside risk. If the negative return is in excess of the Segment Buffer, there is a risk of substantial loss of principal.

Your Segment Rate of Return may be limited by the Performance Cap Rate, which may be lower than it would otherwise if you invested directly in the applicable index. The Performance Cap Rate is not known before the Segment starts. Therefore, you will not know in advance in the upper limit on the return that may be credited to your Segment. Negative consequences may apply, if for any reason, amounts invested in a Segment are removed before the Segment Maturity Date. AXA Equitable, upon advance notice to you, may discontinue, suspend or change contributions and transfers among investment options, Segment offerings, or make other changes in contribution and transfer requirements and limitations.

Investing in the Choice Segments generally provides you access to higher Performance Cap Rates and potentially greater Segment performance. The cost to invest in a Choice Segment is 1% per year of duration (for example, 3% for a 3-Year Segment and 5% for a 5-Year Segment). However, the Choice cost is waived if your index returns are negative, and is partially waived if your index returns are positive but less than your applicable Choice cost. This guarantees that the Choice cost will never bring your returns below zero at maturity. Because you have access to a higher Performance Cap Rate, if the market is up at maturity you may keep a greater percentage of that growth even after deduction of the Choice cost than you would in a similar Standard Segment.

The Segment Rate of Return for a Choice Segment will always be less than (a) the Performance Cap Rate and (b) the Index Performance Rate, if positive, for that Segment. The Segment Rate of Return for a Choice Segment may be less than the Segment Rate of Return for a Standard Segment based on the same Index, Segment Buffer and Segment Duration. This will occur if the applicable Index Performance Rate is positive but less than the sum of (a) the Performance Cap Rate for the Standard Segment and (b) the Choice cost.

Withdrawals from an annuity contract are taxable as ordinary income, not as capital gain and, if made prior to age 59½, may be subject to an additional 10% federal income tax penalty. Withdrawals may also be subject to contractual withdrawal charges. The contractual withdrawal charge declines from 5% over a five-year period for the Structured Capital Strategies® Series B version. For tax purposes, withdrawals will come from any gain in the contract first. See the Structured Capital Strategies® Fact Card and Prospectus for additional information on fees and charges associated with Structured Capital Strategies®.

AXA Equitable Life Insurance has sole legal responsibility to pay amounts it owes under the contract. An owner should look to the financial strength of AXA Equitable for its claims-paying ability.

The Structured Investment Option can protect some downside risk but if the negative return is in excess of the protection level there is a risk of substantial loss of your principal because you agree to absorb all losses to the extent they exceed the protection provided by the Structured Investment Option at maturity. If you would like a guarantee of principal, we offer other products that provide such guarantees.
The Structured Investment Option contains the ability to track equity and commodity indices. The Structured Investment Option does not involve an investment in any underlying portfolio. Instead, it is an obligation of and subject to the claims paying ability of AXA Equitable Life Insurance Company.

Certain types of contracts and features will not be available in all jurisdictions. We offer other variable annuity contracts with different fees, charges and features. Not every contract is available through the same selling broker/dealer.

Product Life Cycle Carrier

This is the carrier for the Structured Capital Strategies® sales kit that must be ordered together with the eight slip sheets. The carrier provides an overview of the Product life cycle.

  Download

Structured Capital Strategies® - Product at a Glance Flyer

This flyer is one of eight slip sheets of the Structured Capital Strategies®-Series B sales kit that must be ordered together.  This flyer provides an abbreviated summary of the Structured Capital Strategies®-Series B.

  Download 

Structured Capital Strategies® Fact Card

This flyer is one of eight slip sheets of the Structured Capital Strategies®-Series B sales kit that must be ordered together.  This flyer provides a detailed summary of the Structured Capital Strategies®-Series B.

  Download 

Structured Capital Strategies® - History May Be a Guide

This flyer is one of eight slip sheets of the Structured Capital Strategies® sales kit that must be ordered together.  This flyer provides a historical perspective of the Structured Capital Strategies® indices on a 1, 3  and 5 year period on a rolling monthly basis.

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Structured Capital Strategies® Pre-Packaged Segment Flyer

This flyer is one of eight slip sheets of the Structured Capital Strategies®-Series B sales kit that must be ordered together. This flyer provides a detailed summary of  Structured Capital Strategies®’ Pre-Packaged Segment Selections.

  Download

Structured Capital Strategies® - 1 Year Segment Flyer

This flyer is one of eight slip sheets of the Structured Capital Strategies®-Series B sales kit that must be ordered together. This flyer provides a detailed summary of the 1 Year Segment option.

  Download

Structured Capital Strategies® - 3 Year Segment Flyer

This flyer is one of eight slip sheets of the Structured Capital Strategies®-Series B sales kit that must be ordered together. This flyer provides a detailed summary of the 3 Year Segment option.

  Download

Structured Capital Strategies® - 5 Year Segment Flyer

This flyer is one of eight slip sheets of the Structured Capital Strategies®-Series B sales kit that must be ordered together. This flyer provides a detailed summary of the 5 Year Segment option.

  Download

Rated 1 out of 5 by from Minimum information and minimum effort We had to call a couple of times on the same issue so I am not sure which call this survey is regarding but either way, the overall feedback is that AXA in general (including our advisor) does not have the best interest of their customers in mind. We even had to the rep on the phone that we knew the laws regarding our choices when our rep automatically renewed an account (without the courtesy of eve a phone call) and then the phone rep tried to tell us we couldn't do anything for five more years.
Date published: 2016-10-13
Rated 1 out of 5 by from Why Now? Not sure why I am getting this now. Haven't had contact. But will take the opportunity to say when I opened my investment with you a few months ago...... it took forever to receive confirming documentation and confirmation that account was open/effective. Very frustrating and disappointing.
Date published: 2016-10-14
Rated 5 out of 5 by from Taking care of business AXA continues to provide solid service and management of our portfolio. They do a solid job in making it all work for us in retirement.
Date published: 2016-11-30
Rated 5 out of 5 by from Helpful research for my situation My agent took the time to research all the different plans to ensure that it would fit my particular situation and results I was looking to achieve.
Date published: 2016-10-26
Rated 5 out of 5 by from Customer Satisfaction Survey I am deeply satisfied with services provided by my AXA professional because they really care and customize plans specifically to you,
Date published: 2016-10-15
Rated 5 out of 5 by from Good Experience My husband had AXA in place before his death. It made my experience simple and I trusted my advisor.
Date published: 2016-10-13
Rated 5 out of 5 by from AXA is awesome AXA respond to your needs very quickly. They are knowledgeable and they care about your future.
Date published: 2016-10-23
Rated 5 out of 5 by from Helpful and puts my financial concerns a priority The professional service I receive makes me confident in AXA for my future financial needs.
Date published: 2016-10-14
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Pre-Packaged Segment Selections are available only at contract issue. You may select only one Selection and you must allocate 100% of your initial contribution to the Selection. You may not specify a Performance Cap Threshold if you select a package. This means you will invest based on the Performance Cap Rate declared on the Segment Start Date. If you are interested in the Pre-Packaged Segment Selection feature, you should work with your financial professional to select the package that is appropriate for you, in light of your investment time horizon, investment goals and expectations, market risk tolerance, and other relevant factors. In providing these Selections, we are not providing investment advice. You are responsible for determining which Selection is best for you. Investing by means of Pre-Packaged Segment Selection does not ensure a profit or protect against a loss. All funds must be received prior to the Segment Start Date in order to be placed into the Pre-Packaged Segment Selection. The Dollar Cap Averaging (DCA) Program may be elected along with the Pre-Packaged Segment Selection. Please see the prospectus for further details.

Investing in the Choice Segments than corresponding Standard Segments generally provides you access to higher Performance Cap Rates and potentially greater Segment performance. The cost to invest in a Choice Segment is 1% per year of duration (for example, 3% for a 3-Year Segment and 5% for a 5-Year Segment). However, the Choice cost is waived if your index returns are negative, and is partially waived if your index returns are positive but less than your applicable Choice cost. This guarantees that the Choice cost will never bring your returns below zero at maturity. Because you have access to a higher Performance Cap Rate, if the market is up at maturity you may keep a greater percentage of that growth even after deduction of the Choice cost than you would in a similar Standard Segment.

The Segment Rate of Return for a Choice Segment will always be less than (a) the Performance Cap Rate and (b) the Index Performance Rate, if positive, for that Segment. The Segment Rate of Return for a Choice Segment may be less than the Segment Rate of Return for a Standard Segment based on the same Index, Segment Buffer and Segment Duration. This will occur if the applicable Index Performance Rate is positive but less than the sum of (a) the Performance Cap Rate for the Standard Segment and (b) the Choice cost.

Withdrawals from an annuity contract are taxable as ordinary income, not as capital gain and, if made prior to age 59½, may be subject to an additional 10% federal income tax penalty. Withdrawals may also be subject to contractual withdrawal charges. The contractual withdrawal charge declines from 5% over a five-year period for the Structured Capital Strategies® Series B version. For tax purposes, withdrawals will come from any gain in the contract first. See the Structured Capital Strategies® Fact Card and Prospectus for additional information on fees and charges associated with Structured Capital Strategies®.

AXA Equitable Life Insurance Company has sole legal responsibility to pay amounts it owes under the contract. An owner should look to the financial strength of AXA Equitable for its claims-paying ability.

S&P®, Standard & Poor’s®, S&P 500® and Standard & Poor’s 500® are trademarks of Standard & Poor’s Financial Services LLC (“Standard & Poor’s”) and have been licensed for use by AXA Equitable. Structured Capital Strategies® 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 Structured Capital Strategies®.

The Russell 2000® Index tracks the performance of small-cap companies. Stocks of small and mid-size companies have less liquidity than those of larger companies and are subject to greater price volatility than the overall stock market. Smaller company stocks involve a greater risk than is customarily associated with more established companies. The Index is a trademark of Russell Investments and has been licensed for use by AXA Equitable. The Product 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 NASDAQ 100 Price Return Index® (not available in all jurisdictions) includes 100 of the largest domestic and international non-financial securities listed on the NASDAQ Stock Market based on market capitalization. The Index reflects companies across major industry groups including computer hardware and software, telecommunications and biotechnology. Non-diversified investing may be focused in a smaller number of issues or one sector of the market that may make the value of the investment more susceptible to certain risks than diversified investing.

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 prospectus contains a more detailed description of the limited relationship MSCI has with AXA Equitable and any related products.

The MSCI EAFE Price Return Index is a sampling of securities deemed by MSCI as designed to measure the equity market performance of the developed European, Australasian and Far East (EAFE) markets. Australasia includes Australia, New Zealand and neighboring islands of the South Pacific. International securities carry additional risks, including currency exchange fluctuation and different government regulations, economic conditions and accounting standards.

The MSCI Emerging Markets Price Return Index (not available in all jurisdictions) is a free float-adjusted market capitalization index that is designed to measure equity market performance of 21 emerging market country indices, including Brazil, Russia, India, China and others in Southeast Asia, Eastern Europe, Latin America and Africa. International securities carry additional risks, including currency exchange fluctuation and different government regulations, economic conditions and accounting standards.

The Financial Select Sector SPDR Fund (not available in all jurisdictions) seeks to closely match the returns and characteristics of the Financial Select Sector Index, which is the underlying index. The underlying index seeks to provide an effective representation of the financial sector of the S&P 500 Index, and includes companies from the following industries: commercial banks, capital markets, diversified financial services, insurance and real estate. The Financial Select Sector Fund may not fully replicate or may, in certain circumstances, diverge significantly from the performance of the index. Non-diversified investing may be focused in a smaller number of issues or one sector of the market that may make the value of the investment more susceptible to certain risks than diversified investing.

This Structured Capital Strategies® variable annuity is not sponsored, endorsed, authorized, sold or promoted by the Select Sector Trust, or SSgA FM. Neither the Select Sector Trust nor SSgA FM makes any representations or warranties to purchasers of the variable annuity or any member of the public regarding the advisability of investing in the variable annuity. Neither the Select Sector Trust nor SSgA FM has any obligation or liability in connection with the operation, marketing, trading or sale of the variable annuity.

The iShares® Dow Jones U.S. Real Estate Index Fund (not available in all jurisdictions) seeks investment results that correspond generally to the performance of the Dow Jones U.S. Real Estate Index. The Index measures the performance of the Real Estate industry of the U.S. equity market, including real estate holding and developing and real estate investment trust (REITS) subsectors. The investment performance of the iShares® Dow Jones U.S. Real Estate Index Segment is based only on the closing share price of the Index Fund. The iShares® Dow Jones U.S. Real Estate Index Segment does not include dividends declared by the Index Fund. Non-diversified investing may be focused in a smaller number of issues or one sector of the market that may make the value of the investment more susceptible to certain risks than diversified investing.

The London Gold Market Fixing Ltd PM Fix Price/USD (Gold Index) (not available in all jurisdictions) is an international benchmark for the price of Gold. Because this Investment Segment is tracked to the commodities industry, it can be significantly affected by commodity process, world events, import controls, worldwide competition, government regulations, and economic conditions. Apart from the risks associated with general commodity investing, there are risks to investing in the common stocks of commodity producing companies. You should be willing to accept the risks that come with exposure to foreign and emerging markets, including political, economic and currency volatility.

The NYMEX West Texas Intermediate Crude Oil Generic Front Month Futures (Oil Index) (not available in all jurisdictions) is the underlying commodity index of oil futures contracts. Risks involved with futures contracts include imperfect correlation between the change in the market value of the stocks held by the portfolio and the prices of futures contracts and options, and the possible lack of a liquid secondary market for futures or options contracts, and the resulting inability to close a futures contract prior to its maturity date. Also, index options, over-the-counter options, and options on futures are exposed to additional volatility and potential losses.

All contract and rider guarantees, including optional benefits and any fixed subaccount crediting rates or annuity payout rates, are backed by the claims-paying ability of AXA Equitable. They are not backed by the broker/dealer from which this annuity is purchased, by the insurance agency from which this annuity is purchased or any affiliates of those entities and none makes any representations or guarantees regarding the claims-paying ability of AXA Equitable.

Structured Capital Strategies® is a long term retirement product which contains fees for administration, sales, and certain expense risks.  Variable annuities are subject to market risk including loss of principal.

Structured Capital Strategies® (August 2014 version) is issued by AXA Equitable Life Insurance Company, New York, NY 10104 and co-distributed by affiliates AXA Advisors, LLC and AXA Distributors, LLC (members FINRA, SIPC). Visit our website at www.axa.com. You can contact us at (212) 554-1234 to find out the availability of other contracts.

Contract form #s: 2010PCSBASE-I-A/B and 2010PCSBASE-A/B and any state variations

“AXA” is the brand name of AXA Equitable Financial Services, LLC and its family of companies, including AXA Equitable Life Insurance Company (NY, NY), 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. The obligations of AXA Equitable Life Insurance Company are backed solely by their claims-paying ability.

© 2014 AXA Equitable Life Insurance Company. All rights reserved. Structured Capital Strategies® is patent-approved. Patent no. 8,645,261.

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