Survivorship IncentiveLife® Legacy
Survivorship IncentiveLife® Legacy
Why choose Survivorship IncentiveLife® Legacy?
Survivorship IncentiveLife® Legacy provides a life insurance benefit for the next generation, so your policyholders will know that their children will be taken care of when they’re no longer around.
Since Survivorship IncentiveLife® Legacy provides tax-deferred growth potential and a death benefit that is generally income-tax-free for your policyholders’ children, more of their money will stay in the family, instead of going to taxes. Covering two lives under one policy can also make it more cost effective than utilizing two single life policies. Of course the death benefit is paid upon the death of the second insured.
Unlike term insurance, this policy has a growth component to complement the protection it provides. Your policyholders’ cash value can grow more quickly over time, with investments in a variety of options, and through tax-deferred growth and distributions.1
Survivorship IncentiveLife® Legacy offers over 90 investment options – ranging from equity and bond funds to sector/specialty options, asset allocation, and risk managed strategy – and access to many of the nation’s most respected money managers.
- Diversification Strategies - Reduce fluctuations by diversifying by asset class or management style
- Market Stabilizer Option® - Take advantage of growth opportunities and help protect against market declines
The Market Stabilizer Option ("MSO") is an investment option that offers a rate ties to the performance of the S&P 500 price return Index (which does not include dividends). The MSO allows your clients to participation the limited upside performance potential of the S&P 500 Price Return Index up to a growth cap rate that is set each month by the insurance company. It also provides limited downside protection against declines of up to -25% in the performance of the S&P 500 Price Return Index. There is a risk of substantial loss of principal because your policyholder agrees to absorb all the losses from the portion of any negative index performance that exceeds -25%. The MSO has a 1.40% charge with a maximum of 2.40%.
- Managed Volatility - Help smooth out your policyholders’ portfolios’ returns in volatile markets
- Sector & Specialty - Take full advantage of market opportunities by including non-traditional assets
- Traditional Asset Classes - Build a solid portfolio using a variety of asset classes
- Other Considerations - Survivorship Incentive Life Legacy does have additional charges including but not limited to a cost of insurance charge, mortality and expense risk charge, investment management fees, transaction charges, rider charges and monthly administration charges, please make sure you and your clients consider these charges before investing or making a purchase.
- Affluent married couples, age 40-69
- May be more financially sophisticated investors
- Has a need for life insurance protection for both spouses
- Wants to leave a legacy for the next generation
- Wants to fully participate in financial market performance
- Moderate to moderate-aggressive risk tolerance
Optional riders available at an additional charge:2
- Cash Value Plus Rider
- Estate Protector Rider
Riders automatically included at no additional charge:2
- Living Benefits Rider (terminal illness)
- Option to Split Upon Divorce Rider
- Option to Split Upon Federal Tax Law Change Rider
- Paid-Up Death Benefit Guarantee
1 Under current federal tax rules, you generally may take federal income tax-free withdrawals up to your basis (total premiums paid) in the policy or loans from a life insurance policy that is not a Modified Endowment Contract (MEC). Certain exceptions may apply for partial withdrawals during the policy’s first 15 years. If the policy is a MEC, all distributions (withdrawals or loans) are taxed as ordinary income to the extent of gain in the policy, and may also be subject to an additional 10% premature distribution penalty prior to age 59½, unless certain exceptions are applicable. Loans and partial withdrawals will decrease the death benefit and cash value of your life insurance policy and may be subject to policy limitations and income tax. In addition, loans and partial withdrawals may cause certain policy benefits or riders to become unavailable and may increase the chance your 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.
2 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.
Please be advised that this webpage is not intended as legal or tax advice. Accordingly, any tax information provided in this guide for producers 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.
Survivorship IncentiveLife® Legacy is issued through AXA Equitable Life Insurance Company (AXA Equitable), NY, NY. AXA Equitable has sole responsibility for its life insurance obligations.
IncentiveLife® and Market Stabilizer Option® are registered service marks of AXA Equitable Life Insurance Company.
This webpage is not a complete description of all the material provisions of the Survivorship Incentive Life Legacy variable life insurance policy. The incentiveLife Legacy variable life is sold by prospectus only. The prospectuses contain more complete information about the policy, including investment objectives, risks, charges, expenses, limitations and restrictions. Please make sure you and your clients read the prospectuses and consider the information carefully before purchasing a policy or sending money.