In business since 1859, AXA Equitable Life Insurance Company is a provider of life insurance, investment and annuity products and services. As of June 30, 2009, AXA Equitable held $519 billion in assets under management. Along with its subsidiary, AXA Life and Annuity, AXA Equitable has more than 2.3 million life insurance policies in effect and is licensed throughout the U.S. and Puerto Rico.
In 1859, Henry Hyde, a cashier at the Mutual Life Insurance Company of New York, left his job to start his own insurance company. A decade later, Hyde's company, Equitable, was writing more new insurance business than any other insurance company in the world. In 1985, Equitable acquired investment bank Donaldson, Lufkin & Jenrette (DLJ).
In 1992, Equitable demutualized in the largest stock conversion for an insurance company at the time, and AXA became Equitable's largest single investor. In 2000, Equitable changed its name to AXA Equitable, and in 2004, it acquired Mutual of New York, founder Henry Hyde's former employer.
In 1989, AXA merged with Compagnie d'Assurance Mutuelle to form the second-largest insurer in France, and by 2003, AXA Group was the world's leading insurer with 50 million clients worldwide and $979 billion in assets under management. AXA Group, with headquarters in Paris, comprises a group of global insurance companies, and its major operations are in North America, the Asia/Pacific region and Europe. As of Dec, 31, 2008, AXA Group's assets under management exceeded $981 billion.
AXA Equitable is the U.S. insurance-underwriting arm of its parent company, AXA Global. A nationwide network of financial advisers offers its products and services to consumers via its retail distribution channel, AXA Advisors, LLC. AXA Distributors, LLC, is the wholesale-distribution channel that provides products and services to the financial services market. AXA Equitable's corporate-distribution channel, Corporate Markets, services corporations and their employees. AXA Equitable offers investment products and services through its subsidiary, Alliance Bernstein, L.P., one of the world's largest publicly traded asset-management firms.
Products and Services
AXA Equitable is a distributor of life insurance, annuities and investment products and services. AXA Equitable provides corporations with retirement planning products and services, which include employee seminars, fiduciary support, record keeping, due diligence and variable annuities.
The company offers consumers a variety of life insurance products, such as term life, variable life, whole life, universal life, and variable universal life policies. AXA equitable also offers annuities and IRA products to consumers for retirement planning. Investment products, such as stocks, bonds, and mutual funds, are offered to consumers through AXA Advisors, LLC.
How To Withdraw Cash Value From a Life Insurance Policy
Withdrawing cash value from a life insurance policy is one way that those who are having financial challenges can obtain the cash...