As with any investment or investment feature, it’s important for current and prospective EQUI-VEST® variable annuity contract holders to understand all applicable restrictions and limitations associated with Semester Strategies. As some examples, the EQUI-VEST® variable annuity contract holder’s Planned Retirement Age cannot be later than the maturity date under their contract, and those currently invested in the contract’s Personal Income Benefit (PIB) are not eligible to participate in Semester Strategies (“Program”) at this time. Also, those with current investments in the SIO may not be eligible to participate in the Program if their current SIO allocations are higher than the Model Portfolio allocations to the SIO.

This press release does not cover all material provisions of the EQUI-VEST® variable annuity contract. For an EQUI-VEST® prospectus, the prospectus for the underlying portfolios, the prospectus for the Structured Investment Option and any applicable supplements, which contain detailed information about the EQUI-VEST® contract, including risks, charges, expenses, investment objectives, limitations and restriction, contact an AXA Advisors Financial Professional. Read these documents and consider this information carefully before purchasing a contract.

The EQUI-VEST® variable deferred annuity is a long-term financial product that is designed for retirement purposes; a contractual agreement in which payments are made to AXA Equitable Life Insurance Company, which agrees to pay an income stream or lump-sum amount at a later date. There are contract limitations, fees and charges associated with variable deferred annuities, which include, but are not limited to, mortality and expense risk charges, withdrawal charges and administrative fees. For costs and complete details, see the prospectus or contact your financial professional. The variable investment options offered in this contract will fluctuate and are subject to market risk, including loss of principal.

EQUI-VEST® is a registered service mark of, and is issued by, AXA Equitable Life Insurance Company, NY, NY 10104. AXA Advisors Financial Professionals offer securities through AXA Advisors, LLC (NY, NY, 212-314-4600), member FINRA, SIPC, and offer annuity and insurance products through AXA Network, LLC (AXA Network Insurance Agency of California, LLC; AXA Network Insurance Agency of Utah, LLC; AXA Network of Puerto Rico, Inc.).

1Semester Strategies is offered through an independent third party, SWBC Retirement Plan Services. SWBC Retirement Plan Services is an unaffiliated third-party and is a wholly-owned subsidiary of SWBC, which was established in 1976. Advisory services are offered by SWBC Investment Advisory Services, LLC, d/b/a SWBC Retirement Plan Services, a Registered Investment Advisor with the Securities and Exchange Commission. SWBC Retirement Plan Services focuses exclusively on serving the retirement plan market. AXA Equitable has entered into an agreement to make SWBC Retirement Plan Services’ fiduciary services available through Semester StrategiesSM, which is available through AXA Equitable Life’s EQUI-VEST variable annuity contract.

2The downside risk protection of up to negative 10 percent is offered through the Structured Investment Option (SIO), available through a feature in the EQUI-VEST variable annuity contract. If the negative return is in excess of the built-in Segment Buffer protection feature, there is risk of substantial loss of principal. The SIO is an obligation and subject to the claims-paying ability of AXA Equitable Life Insurance Company. This is not a complete description of the SIO or of the EQUI-VEST® contract.

3AXA Equitable’s variable annuity contract for 403(b) retirement plans is the EQUI-VEST® variable annuity contract.

4See LIMRA’s “Not-for-Profit Retirement Market Report, Q3 2018.” AXA Equitable Life was ranked as the largest provider in a survey of 15 companies based on K-12 403(b) contributions and assets under management.

5See www.axa.com/valueoftheadvisor2018 for full research.

GE-143291 (02/2019) (Exp. 02/2021)