AXA Equitable Life Insurance Company Review
Established as Equitable Life Insurance Company in 1859, Equitable Insurance is an old and well respected name in financial services and life insurance products and is one of the largest life insurance companies in the United States. In 1991, The Equitable was purchased by AXA, a French insurance company.
AXA Equitable Life Insurance Company is a part of the AXA brand name. Other subsidiary companies of AXA Equitable Financial Services, LLC include: MONY Life Insurance Company of America; AXA Advisers, LLC; AXA Distributors, LLC and AXA S.A., the group of international insurance and financial services companies. The AXA Group operates in 59 countries with over 103 million clients.
Life insurance and financial products are provided through a network of over 4,800 financial advisers with more than 2 million households covered nationwide. The company’s headquarters is located at 1290 Avenue of the Americas, New York City. Other corporation locations include offices in New Jersey, Syracuse, Charlotte and Farmington, Connecticut. AXA Equitable has total assets of over $500 billion.
Corporate responsibility includes giving back to the community. AXA Equitable Life gives to many charitable organizations including its AXA Foundation, a scholarship program awarding more than $1.4 million per year to eligible students. The program has given over $25 million in scholarship funds since it began in 2003.
Financial Stability Ratings, Customer Service Ratings and Company Awards
You can trust in the financial strength of AXA Equitable Life Insurance Company. It has top ratings from these insurance rating organizations:
- A.M. Best: “A+” Second Highest Ranking
- Fitch: “AA-” Fourth Highest Ranking
- S&P: “A+” Fifth Highest Ranking
- Moody’s: “Aa3” Fourth Highest Ranking
Better Business Bureau Rating
AXA Financial, Inc. is the parent company of AXA Equitable Life Insurance Company and it has been a BBB accredited business since 1937. It has an “A+” rating with a BBB composite score of 3.68 out of 5 stars. There are seven negative customer reviews and 38 total closed complaints. There were complaints in the following categories:
- Advertising/Sales Issues: 2
- Billing/Collection Issues: 3
- Delivery Issues: 3
- Problems with Product/Service: 30
Insurance and Financial Products
- Term Life Insurance: Fixed premium for 1, 20, 15 or 20 years.
- Whole Life Insurance: Fixed premium with a guaranteed minimum cash value the increases annually.
- Universal Life Insurance: Offers flexible premiums and the potential for cash value accumulation.
- Variable Universal Life Insurance: Accumulation potential, flexible premiums and investment options.
- Variable Annuities: Four different annuity plans offer tax-efficient distributions, tax deferrals options, investment opportunity, guaranteed income, death benefit and lifetime income options.
- Individual Retirement Accounts: Several IRA options are available that can lower your taxable income and offer the ability to accumulate retirement income without immediate taxation.
- Brokerage and Advisory Accounts: Several financial plan options are available including optimum market portfolios, strategic asset management, personal wealth portfolios and management account programs.
- Mutual Funds: A broad range of mutual fund option plans are offered with diverse investment opportunities including BlackRock, ING, Oppenheimer and more.
- Employer Insurance Plans: AXA also offers solutions for employee retirement and benefit plans. Employer health benefit plan options include dental, vision, life, short-term disability and long-term disability. Employee retirement plan options include 401(k) plans for businesses; 403(b) plans for K-12 schools, colleges universities and hospitals; and 457(b) plans for state, county and local governments.
- Financial Advice: You can consult with a financial advisor if you need help with your financial strategy. Advisement services are available for annuities, business strategies, investing, life insurance and retirement planning.
Pros and Cons
AXA Equitable Life Insurance Company offers broad choices in life insurance plans from one to 30 years and several different types of policies. It is an old and established name in life insurance and has proven its financial reliability. Several top insurance rating organizations give it favorable financial strength ratings. There are many attractive life insurance policy features such as the ability to borrow against the cash value of your policy and the option to receive dividend payments. One negative aspect is no option for policyholders to purchase coverage online.
To find life insurance or financial products offered through AXA Life Insurance Company or to find a local branch location, you can contact a financial professional at 888-AXA-INFO (292-4636) or visit the AXA Equitable Life Insurance Company website.