AXA Equitable Life Joins the Alliance for Lifetime Income to Help Americans Prepare for Retirement
Research Finds More Than 73 Percent of Consumers Fear Their Income Won’t Last Throughout Retirement
June 14, 2018
Media Contacts:
Abby Aylman Cohen
(212) 314-2010
mediarelations@equitable.com
(212) 314-2010
mediarelations@equitable.com
NEW YORK – AXA Equitable Life, a unit of AXA Equitable Holdings, Inc. (NYSE: EQH), a leading financial services company, announced today that it has joined the Alliance for Lifetime Income as a founding member. The Alliance brings together 24 of the nation’s leading financial services organizations to help Americans address the risk of outliving their income so they can lead a dignified life after retiring.
For AXA Equitable Life, which has been in existence for more than 150 years, joining the Alliance for Lifetime Income is yet another way it can help people retire with dignity, protect their families and prepare for their financial futures with confidence.
“We believe that all Americans should be able to retire with dignity, so it is critical that they understand how well their savings can replace pre-retirement income,” said Mark Pearson, president and CEO of AXA Equitable Holdings. “We are proud to join the Alliance as it directly addresses this need and aligns with our longstanding focus on providing advice, products and services that help people navigate complex financial decisions such as retirement and the educational approach we take with clients.”
Educating consumers and advisors about the potential risks of not saving for retirement is more critical than ever, according to recent research. AXA Equitable Life research, conducted in collaboration with The Insured Retirement Institute (IRI), found that more than seven in ten conservative investors fear their income won’t last throughout retirement. Further, 79 percent of investors are interested in learning about products that can offer some level of principal protection, such as structured and variable annuities with certain riders and optional features, which can help address and mitigate fears about the impact of market downturns on savings.
A study by the Alliance found that nearly half (48 percent) of America’s 45-to-72-year-old households with investable assets of $75,000-$1.99M are approaching their retirement years “unprotected” – that is, their savings are not prepared for headwinds such as longevity risk, rising healthcare costs and market volatility.
These findings underscore the critical role financial protection and lifetime income strategies can play in helping individual investors reach their retirement goals.
AXA Equitable Life will join the Alliance as they embark on a nationwide, multi-year campaign that includes educating consumers and financial advisors about protected lifetime income, helping consumers understand the many benefits of annuities and empowering financial advisors to engage clients in conversations about helping to protect lifetime income through portfolio diversification.
For more findings from AXA Equitable Life’s and IRI’s research about consumers’ financial concerns around retirement, click here. To learn more about the Alliance for Lifetime Income’s campaign, click here.
About AXA Equitable Life
AXA Equitable Life is a wholly-owned indirect subsidiary of AXA Equitable Holdings, Inc. (NYSE: EQH). Since 1859, we have been one of America’s leading financial services providers with 2.8 million customers nationwide and more than $211 billion of assets under management (as of 12/31/17). Our mission is to help people retire with dignity, protect their families and prepare for their financial futures with confidence. Find AXA Equitable Life on Facebook, Twitter and LinkedIn. For more information, visit www.axa.com.
About the Alliance for Lifetime Income
The Alliance for Lifetime Income, based in Washington, D.C., is a nonprofit 501(c)(6) organization formed and supported by the nation’s leading financial services organizations to educate Americans about protecting their retirement income for life. The Alliance is focused on helping Americans address the risk of outliving their savings so they can enjoy their retirement lives. The Alliance provides consumers and financial advisors with the resources and insight they need to build plans for protected retirement income. For more information, visit www.AllianceForLifetimeIncome.org.
For AXA Equitable Life, which has been in existence for more than 150 years, joining the Alliance for Lifetime Income is yet another way it can help people retire with dignity, protect their families and prepare for their financial futures with confidence.
“We believe that all Americans should be able to retire with dignity, so it is critical that they understand how well their savings can replace pre-retirement income,” said Mark Pearson, president and CEO of AXA Equitable Holdings. “We are proud to join the Alliance as it directly addresses this need and aligns with our longstanding focus on providing advice, products and services that help people navigate complex financial decisions such as retirement and the educational approach we take with clients.”
Educating consumers and advisors about the potential risks of not saving for retirement is more critical than ever, according to recent research. AXA Equitable Life research, conducted in collaboration with The Insured Retirement Institute (IRI), found that more than seven in ten conservative investors fear their income won’t last throughout retirement. Further, 79 percent of investors are interested in learning about products that can offer some level of principal protection, such as structured and variable annuities with certain riders and optional features, which can help address and mitigate fears about the impact of market downturns on savings.
A study by the Alliance found that nearly half (48 percent) of America’s 45-to-72-year-old households with investable assets of $75,000-$1.99M are approaching their retirement years “unprotected” – that is, their savings are not prepared for headwinds such as longevity risk, rising healthcare costs and market volatility.
These findings underscore the critical role financial protection and lifetime income strategies can play in helping individual investors reach their retirement goals.
AXA Equitable Life will join the Alliance as they embark on a nationwide, multi-year campaign that includes educating consumers and financial advisors about protected lifetime income, helping consumers understand the many benefits of annuities and empowering financial advisors to engage clients in conversations about helping to protect lifetime income through portfolio diversification.
For more findings from AXA Equitable Life’s and IRI’s research about consumers’ financial concerns around retirement, click here. To learn more about the Alliance for Lifetime Income’s campaign, click here.
About AXA Equitable Life
AXA Equitable Life is a wholly-owned indirect subsidiary of AXA Equitable Holdings, Inc. (NYSE: EQH). Since 1859, we have been one of America’s leading financial services providers with 2.8 million customers nationwide and more than $211 billion of assets under management (as of 12/31/17). Our mission is to help people retire with dignity, protect their families and prepare for their financial futures with confidence. Find AXA Equitable Life on Facebook, Twitter and LinkedIn. For more information, visit www.axa.com.
About the Alliance for Lifetime Income
The Alliance for Lifetime Income, based in Washington, D.C., is a nonprofit 501(c)(6) organization formed and supported by the nation’s leading financial services organizations to educate Americans about protecting their retirement income for life. The Alliance is focused on helping Americans address the risk of outliving their savings so they can enjoy their retirement lives. The Alliance provides consumers and financial advisors with the resources and insight they need to build plans for protected retirement income. For more information, visit www.AllianceForLifetimeIncome.org.
