AXA Equitable Life Introduces Enhanced Investment Strategies to Accumulate Wealth and Build Financial Security for Retirement
June 25, 2019
NEW YORK – AXA Equitable Life, a leading financial services company, today launched Retirement Cornerstone® 19, an enhanced version of Retirement Cornerstone®, its multi-stage variable annuity. The company also announced updates to its market-leading structured annuity, Structured Capital Strategies®. These enhancements will enable clients to build wealth and create protected lifetime income, while mitigating risk and keeping pace with inflation.
“With these new enhancements we are providing a way for people to weather changing market dynamics while accumulating wealth for the future,” said Kevin Kennedy, Head of Individual Retirement, AXA Equitable Life. “Variable annuities play an integral role in helping people to create lifetime income and retire with dignity. These new offerings are the latest examples of our track record of innovation in this area.”
Retirement Cornerstone® 19 provides wealth accumulation and optional guaranteed lifetime income and death benefits.1 This updated version of Retirement Cornerstone® provides 5% guaranteed growth on the income base, with the opportunity for up to 8% growth based on Treasury rates. This is designed to provide investors with income that can keep pace with inflation and address the rising costs of living in retirement.
The company also announced updates to its market-leading structured annuity, Structured Capital Strategies®. Structured Capital Strategies® is a variable and index-linked deferred annuity that offers upside market performance potential up to a cap with some downside protection. New features in select versions of Structured Capital Strategies® include the ability to invest on a one-year basis with tax deferral and growth potential up to a cap. This benefit gives investors the flexibility to realize potential returns or partial downside protection more quickly.
About Retirement Cornerstone®
Retirement Cornerstone® is a single tax-deferred variable annuity comprised of two separate accounts that help address different goals. The Investment Account offers an extensive selection of over 100 investment portfolios from well-known investment managers. The Protected Benefit Account funds the Guaranteed Minimum Income Benefit (GMIB), an optional rider available for an additional fee. The GMIB ensures the investor will be able to generate lifetime income – no matter how their investment portfolios perform – if they stay within certain withdrawal guidelines. As the investor’s needs change over time, assets can be transferred from the Investment Account to the Protected Benefit Account.
About Structured Capital Strategies®
Structured Capital Strategies® is a variable and index-linked tax deferred annuity designed for retirement income. Structured Capital Strategies® provides the opportunity for growth while limiting potential losses. Investors can participate in the performance of one of several mainstream indices, such as the S&P 500, Russell 2000 or MSCI EAFE, up to a cap, with up to 30 percent downside market protection to limit losses. Investors absorb the loss in excess of -30%, so there is a risk of substantial loss of principal. Investors can customize the product to their investment risk tolerance and individual retirement goals by choosing the index on which they would like to base the performance of their investment, the maturity date of the investment and the level of downside protection with which they are comfortable.
About AXA Equitable Life
AXA Equitable Life is a wholly-owned indirect subsidiary of AXA Equitable Holdings, Inc. (NYSE: EQH). Founded in 1859, the company is one of America’s leading financial services providers with 2.8 million customers and more than $208 billion of assets under management (as of 3/31/19). AXA Equitable Life’s mission is to help people retire with dignity, protect their families and prepare for their financial futures with confidence.