Axa Equitable expands series.Axa Equitable Life Insurance Co. has announced enhancements to its Accumulator series of variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. . On certain guaranteed minimum income Guaranteed minimum income is a proposed system of income redistribution that would provide eligible citizens with a certain sum of money (independent of whether they work or not), also known as "Basic Income Guarantee (BIG)", "universal basic income", "citizen's income scheme", benefit and death-benefit riders, it has added a 6.5% annual roll-up feature to its 6% roll-up, which is calculated as a benefit base separate from account value. If the account value is higher on an anniversary date, the owner can reset the benefit base to that amount.The minimum death-benefit rider provides the greatest of the final account value, the highest account value on any contract anniversary, or the roll-up benefit base. Both the GMIB GMIB Guaranteed Minimum Income Benefit (Insurance) and GMDB GMDB Guaranteed Minimum Death Benefit (insurance) are subject to additional charges and certain conditions. |
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