AXA Equitable Life Insurance Company Review
Established as Equitable Life Insurance Company in 1859, Equitable 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, Equitable was purchased by AXA, a French insurance company.
Equitable Financial Life Insurance Company is a part of the Equitable brand name. Other subsidiary companies include: AllianceBernstein Corporation; Equitable Advisers, LLC; Equitable Distributors, LLC and Equitable Investment Management Group, LLC.
Life insurance and financial products are provided through a network of over 12,400 employees and financial advisers. AXA Equitable has total assets of over $809 billion. The company’s headquarters is located at 1290 Avenue of the Americas, New York City. Other corporation locations include offices in Jersey City, NJ; Syracuse, NY; Charlotte, NC; Nashville, TN; and San Antonio, TX.
Corporate responsibility includes giving back to the community. The Equitable Foundation gives to many charitable organizations including its Equitable Excellence Scholarship, a program awarding more than $1.8 million per year to eligible students. The program has given over $30 million in scholarship funds to 6,800 students since it began in 2003.
Financial Stability Ratings, Customer Service Ratings and Company Awards
You can trust in the financial strength of Equitable Insurance. It has top ratings from these insurance rating organizations:
- A.M. Best: "A" Excellent, Third Highest Ranking
- S&P: "A+" Strong, Fifth Highest Ranking
- Moody’s: "A2" Good, Sixth Highest Ranking
Better Business Bureau Rating
AXA Financial, Inc. is the parent company of Equitable and it has been a BBB accredited business since 1937. It has an “A+” rating with a BBB composite score of 1.24 out of 5 stars. There are twenty-seven negative customer reviews and 71 total closed complaints. There were complaints in the following categories:
- Advertising/Sales Issues: 1
- Billing/Collection Issues: 17
- Delivery Issues: 3
- Guarantee/Warranty Issues: 2
- Problems with Product/Service: 48
Insurance and Financial Products
- Term Life Insurance: Fixed premium for 1, 10, 15 or 20 years.
- Variable Universal Life Insurance: Accumulation potential, flexible premiums and investment options.
- Indexed Universal Life Insurance: Ability to invest in index-linked option, insures one person and pays benefit to beneficiary after insured passes.
- 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.
- Employer Insurance Plans: Equitable 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
Equitable 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 Equitable or to find a local branch location, you can contact a financial professional by visiting the Equitable website.