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IncentiveLife Legacy® III

IncentiveLife Legacy® III

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Unlike term insurance, IncentiveLife Legacy® III protects policyholders' families for their entire lives, as long as required premiums are paid, while adapting throughout their lives to provide access to the cash they need, when they need it.

  • Lifetime death benefit
  • Flexibility to access their money
  • Downside protection option
  • Ability to increase or decrease benefits

Keep More

IncentiveLife Legacy® III helps policyholders keep more of their money by minimizing taxes and offering no contribution limits, no early withdrawal penalties, and no income taxes on any money they pass along.

  • Income tax-free death benefit
  • No contribution limits
  • No early-access penalties

Build More

With IncentiveLife Legacy® III, policyholders’ cash value can grow over time. And, as with their 401(k) or IRA, IncentiveLife Legacy® III can build their assets more quickly over time with true tax-deferred growth and distributions.

  • Tax-deferred growth helps build assets over time
  • Wide range of investment choices
  • Flexibility to change investments as policyholders’ lives change

IncentiveLife Legacy® III 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 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 client agrees to absorb all the losses from the portion of any negative index performance that exceeds -25%. The MSO has a charge of 1.40% with a maximum of 2.40%
  • Managed Volatility - Help smooth out a portfolio’s 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


  • Age 40
  • Married with two children
  • Annual Income $120,000

Goal: Stephen has 17 years left on his mortgage and wants to provide $1,000,000 of life insurance for his family. This will help to pay off the mortgage and replace his income for about six years.

Based on his age and health, his monthly payment is $387.

  • May be a more financially sophisticated investor
  • Age 25-70
  • Has a need for life insurance protection
  • Looking for cost-effective protection
  • Moderate to moderate-aggressive risk tolerance
  • Wants to be able to fully participate in financial market performance
  • Looking for an alternative option to cover long-term care expenses
  • Wants a source from which he or she may potentially access cash for future needs

Optional riders available at an additional charge:2

  • Children’s Term Insurance Rider
  • Disability Waiver of Monthly Deductions Rider
  • Long-Term Care ServicesSM Rider
  • Option to Purchase Additional Insurance Rider
  • Market Stabilizer Option® (charge only if exercised)

Optional rider available at no additional charge:2

  • Charitable Legacy Rider®

Riders automatically included at no additional charge:2

  • Living Benefits Rider (terminal Illness)
  • Loan Extension Endorsement
  • Paid-Up Death Benefit Guarantee
  • Substitution of Insured Rider

To view Financial Professional materials, please log on to

Prospectus: NY and PR Only (AXA Equitable, inclusive of MSO)

Prospectus: All States, Except NY and PR (MLOA, inclusive of MSO)

1 Under current federal tax rules, clients generally may take federal income tax-free withdrawals up to their 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 guide for producers 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.

This webpage is not a complete description of all the material provisions of the IncentiveLife Legacy® III variable life insurance policy. This webpage must be preceded or accompanied by the IncentiveLife Legacy® III product prospectus and any applicable prospectus supplements. The prospectuses contain more complete information about the policy, including investment objectives, risks, charges, expenses, limitations and restrictions. Please read the prospectuses and consider the information carefully before purchasing a policy or sending money.

IncentiveLifeLegacy® III, a flexible premium variable 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 (MLOA), an Arizona Stock Corporation, with main administrative office in Jersey City, NJ. When sold by New York State-based (i.e., domiciled) Financial Professionals, IncentiveLife Legacy® III is issued by AXA Equitable Life Insurance Company (New York, NY). It is co-distributed by affiliates AXA Advisors, LLC and AXA Distributors, LLC, both located at 1290 Avenue of the Americas, New York, NY 10104. AXA Equitable, MLOA, AXA Advisors, LLC and AXA Distributors, LLC are subsidiaries of AXA Equitable Financial Services, LLC and AXA Financial, Inc. and do not provide tax or legal advice. Certain types of policies, features and benefits may not be available in all jurisdictions or may be different. This policy has limitations. For costs and more complete details of coverage, refer to the product specifications.

IncentiveLife Legacy® III is sold by prospectus only. The prospectus contains complete information on investment options, fees, and charges. Clients should read the current prospectus before investing or sending money.

IncentiveLife Legacy®, Charitable Legacy Rider® and Market Stabilizer Option® are registered service marks and Long-Term Care ServicesSM is a service mark of AXA Equitable Life Insurance Company.

GE-133542 (03/2018)

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