AXA Equitable

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Average Ratings (from 23 ratings)
7 Positive Reviews – 9 Negative Reviews
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Facts, Reviews & Ratings

Visit AXA’s Website to learn more:

  • Emphasis on Variable Annuities
  • 16,500 individual U.S. agents
  • Serving people since 1859
  • Assets under management 519 billion as of June 30, 2009
  • A+ Rating with AM Best

In business since 1859, AXA Equitable Life Insurance Company (formerly The Equitable Life Assurance Society of the United States) is a leading financial protection company and a premier provider of life insurance, annuity, and investment products and services. AXA Equitable’s assets under management totaled $519 billion as of June 30, 2009.

The company’s products and services are offered:

  • To consumers by financial professionals through its retail distribution channel, AXA Advisors, LLC
  • To the financial services market through its wholesale distribution channel, AXA Distributors, LLC
  • To corporations and their employees through its corporate distribution channel, Corporate Markets.

In addition, AXA Equitable and AllianceBernstein, L.P. are affiliated companies; AllianceBernstein is one of the largest publicly-traded global asset management firms in the world.

AXA Equitable is a subsidiary of AXA Financial Inc., which is part of the global AXA Group, a worldwide leader in financial protection strategies and wealth management. AXA Group’s operations are geographically diverse, with major operations in Europe, North America, and the Asia/Pacific region.1

Citations: 1) http://www.axa-equitable.com/axa/about-axa-equitable.html

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Comments

  1. Larry S. says:

    My financial advisor in Ridgeland, MS sold me products, and now won’t return my phone calls, very unprofessional.
    Beware of the Ridgeland, MS office, especially Gaylon Joullian

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    2 / 3 found this review useful.
  2. Very happy with my Retirement Cornerstone and happy with the Variable Annuity options AXA has to provide to their customers. My advisor is very attentive to my personal concerns and on top of things.

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    1 / 2 found this review useful.
  3. I have found AXA to be very helpful towards my personal retirement strategy. Their variable annuities are pretty solid and I personally like their Cornerstone annuity. It keeps up with interest rates and more. It has two separate accounts for flexibility in-between the investment account and a protected account. The Mutual Fund shell investment sleeve combined with the protected sleeve really gives you options and greater flexibility within an annuity than what is common in the industry. It has done me well. Ultimately it comes down to your knowledge but this product caters to people who understand the benefit of an annuity shell with options on protected guarantees. The fees are only really high if you choose to add all the riders. That is the way it is for any of these types of vehicles. At least I know that if my cash account value gets hit in the market I am still going to have the option to annuitize for life at a set-in higher ratcheted value.

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    1 / 2 found this review useful.
  4. This annuity is great for the right person. After reading these reviews, it is dumbfounding to me that you people complaining have no clue how it works. I see some of you are complaining that you have had the annuity for 10 years and havent seen many gains, do you realize that you went through one of the biggest financial crisis in history the last 10 years? No matter what you were in, as long as it was market related, you probably got whacked. You should also take note of your guarenteed benefit base, because while everyone else in their investment portfolios lost 40%, you still had that benefit base locked in somewhere much higher. Sure the fees are high but nobody is going to give guarentees for free. If you are the type of investor that is very optimistic, aggressive, and looking for 10% annually then this is not for you. If you are the type of investor that lacks protection, an income stream, and still wants moderate gains, this is the best there is currently.

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    1 / 1 found this review useful.
  5. Michael Anthony says:

    I have been a client of AXA since 2003, first I had the run of the mill IRA, then around 2006 I was talked into an Annuity, called the Accumulator. What I did not ‘ t realize was that Accumulator stands for what they were doing to line their pockets, as in charging, without detailing any fees on any statements. That was until 2013, when I noticed charges for “Guaranteed Minimum Death Benefit Charge” and “Guaranteed Minimum Income Benefit Charge” of
    $10,846.16, to emphasize that is Ten Thousand Eight Hundred Forty Six Dollars and 16 cents.
    And I repeat until 2013 this was never, not once itemized on any statements.
    Now sit please, since 2006 these people have charged me over $49,000 in charges for these two “Benefits”.

    My beef is, if they detailed these charges on all my statements, I would have moved out of this product in a New York Minute after receiving the fist statement.

    It is near impossible to contact any AXA rep on the phone, thus I have filed a complaint with FINRA.

    My opinion, do not do business with the company, they are in my opinion, not up front and very deceitful.

    If there is anyone out there that has experience in creating YouTube videos, please contact me, I will post all my statements for the world to see.

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    1 / 1 found this review useful.
  6. Gail Enid ZImmer says:

    Yesterday, March 26, 2013, I received two letters from AXA Equitable regarding two Accumulator accounts. There were forms included for an “:Annual Reset Election.” The deadline for deciding on whether I want a fee increase is April 1! Why would I?

    The letter and the form are both written in language that is impossible to understand. And the performance statements I receive periodically are impossible to decipher! They generally indicate that I am losing money, even though I thought my principal was supposedly guaranteed, and my two account executives have never explained this to my satisfaction. Terms like “roll-up benefit” mean nothing to me!

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    1 / 2 found this review useful.
  7. Rich Sitko says:

    I purchased an AXA Accumulator Annuity 10 years ago. On February 15 I was expecting my first guaranteed payment. It did not get deposited in the assigned account. as expected. I am not angry or disappointed. This is to be expected from AXA. This is what they do best. They constantly; renege on their promises that they make to their policy holders.
    My whole experience with this financial product has been one of disappointment and being misled d to by AXA and their agents. Yes, I have buyers remorse.
    When I first bought the annuity in 2011, the underlying mutual funds were all by brand name mutual fund leaders; Vanguard, Fidelity, Charles Schwab to just name a few. Over the years, these choices were replaced with AXA Advisor run funds. The AXA Advisor run mutual funds all had higher management fees and poorer performance than the funds they replaced. In ten years, the cash value of my Accumulator policy was valued at about what I paid for it. This was with a fairly conservative asset allocation.
    My AXA Advisor misled me on the “borrowing” aspects of the Accumulator. She told me that after ten years, I could take distributions from the accumulated value and not effect the annuity income benefits. This is not true. In reality, the annuity benefits are re-calculated after a distribution.
    When I began to do my retirement planning I asked my AXA Advisor when would the first payment be available. She replied on the first month following the ten-year anniversary of the policy after I declared the annuity.. This is not totally true. In the policy language, the payment is subject to a modal system. If you elect monthly, you will pay about a two and one half percent penalty against the annual payout. If you select quarterly, it is about two percent. If you select annual, there is no penalty, but payment is withheld to the twelfth month following the declaration of the annuity. I felt mislead me on this important detail. I won’t say deliberately mislead. I do not think she has the knowledge needed to sell or support this product. The modal payment trap is a little publicized fact of many buried in the thick policy of small print that you and a team of lawyers will need to study if you really want to know what you purchased. Believe me, any lawyer worth his fee will advise you against signing this contract.
    By way of disclosure. I am a former AXA employee. I worked for AXA Equitable back office in information technology. I was “Job Abolished” when I reached age sixty. My job function is now in Bangalore India. I renegotiated my severance package in exchange for dropping an age discrimination complaint I filed in state court. It is easy to dismiss this comment as a rant of a “disgruntled” ex-employee, but I experienced a lot from AXA both as an insider and as a customer. To sum it up, AXA is a company committed to mediocrity on every level. If you don’t believe me, just check out the performance of their ADR – AXAHY. Compare it to the former Equitable stock that it replaced.

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    13 / 15 found this review useful.
    • Rose Ciambotti says:

      Its so refreshing to hear your comments about AXA. I too have 3 Accumulator annuities including one that was a rollover IRA. At the time of purchase, my then advisor ( not now) promised me the money would be available to me anytime and I would get 6% per year guaranteed. Let me explain that at the time I was 54 and taking care of my elderly mother and so I trusted my advisor. I can honestly say I thought I was buying mutual funds and not an insurance product. When the time came when my mom needed to go into a nursing home, I needed access to that money. Thats when the light came on. Funny thing is, I didn’t even have the policies. My FA told me I must have lost them ( I’m a very organized person but it’s his word against mine) and he did get me duplicates. Then I read what I had bought 2 yrs earlier and what a surprise. Besides the 7% surrender charge I also would have been hit with the 10% charge because I was under 59.5. And adding to this disaster the account value had fallen 1/2 its value. I could go on and on – I have tried moving monies within the accounts but I know my only option is to accept the loss, cash out and move on. The account value has barely moved in over 7 yrs. One warning to anyone reading this – be sure to read and “try” to understand your annuities. Jusrt yesterday I received notification that AXA is discontinuing most of their good funds within their annuities and will be managing their own. I moved out of their accounts along time ago- they go nowhere. Buyers beware!!!!

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      1 / 1 found this review useful.
  8. It seems they are constantly going in/out of mutual funds making all those commisions inside my annuity, no wonder it seems this annuity is going nowhere. I wonder if the people who manages the annuity know what they are doing. Very disappointed in the overall product.

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    9 / 13 found this review useful.
  9. I have been trying to get in touch with my AXA Advisor for over 4 months only to find that he changed my account without me knowing and now I am unable to access MY OWN money! Now all I get is voicemail after voicemail. If I did my job in the same manner I would be fired.

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    3 / 3 found this review useful.
  10. new teacher says:

    An AXA rep came to my school’s campus and told me they represented our district’s HR and that if I wanted to have a retirement plan I had to do it through them. ……. Now that I know how dumb I was to believe them I can’t move my policy to another company without being charged 6%, after the rep repeatedly telling me that I could move the funds at any time without penalty…. I am pissed that this guy was allowed on campus, and more so that a business would target new teachers to take advantage of. He met with all of the new teachers on our campus and 9 of us signed up and are now stuck. On top of this, the funds we were “advised” to invest in have plummeted and the fees the company charges are insane.

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    24 / 29 found this review useful.
    • This exact same thing happened to me! The rep came to the high school I had just started at and told me he was from the district. He said this was the only way to have a retirement account and now I can’t do anything about it. Ridiculous!

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      7 / 9 found this review useful.
  11. I just signed up for the Retirement Cornerstone AXA Annuity. I like that it works like a mutual fund with an annuity shell. And it lets me take my gains or any amount from the fund side and move it to a guaranteed account whenever I want. I also like that my guaranteed interest rate changes with the current economic conditions – not stuck in today’s poor interest rate environment. The fees are similar to my account managed at Morgan-Stanley.

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    9 / 19 found this review useful.
    • Concerned Advisor says:

      You should take another look at what you signed up for. Remember the fees are based on the larger income base amount and taken from the smaller cash amount. Meaning that for you to catch that upside of the market you first need to beat the fees they are charging you. With AXA that can sometimes mean the market needs to go up at least 4 percent just to make you a percent or less. With anything under that you will be loosing money. Just a thought.

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      13 / 17 found this review useful.
      • Concerned Advisor it sounds like you’re describing AXA’s Accumulator, not Retirement Cornerstone. Your info is correct when applied to Accumulator, but w/RC you don’t pay for the add’l guarantees until you fund the guaranteed benefit account, at which point the fees are taken from there. If using RC’s performance side only, the fees are very similar to those found in a wrap program (1.3% plus fund expense ratios).

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  12. Jim Notpleased says:

    I purchased an AXA Accumulator Annuity in 2009 after my investments took a beating in the market. They told me that I would be able to get the upside of the market and I would have a six percent guarantee. Doesn’t that sound great, I thought so! What I didn’t get was that my cash in the annuity wasn’t really guaranteed — and the charges AXA takes out of my cash account are HUGE! They are charging me almost 4% in fees every year! I thought my guarantee would offset my fees – nope! my supposed 6% guarantee is in an account that only guarantees income – so in order to make this account worth anything I have to use it for an income. Sounds nice but between the market and the fees my account is getting killed in 2010. I can’t wait to get this account out of surrender and then take it somewhere I cannot lose any of my principal – if I have any left.

    Before you invest here make sure you know how this thing really works.

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    31 / 31 found this review useful.
  13. Pam/Tim B says:

    We compared AXA and Prudential pretty close it is so confusing it really came down to trusting our advisor they are probably both good. We are very pleased.

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    6 / 11 found this review useful.
  14. Carol Nevada says:

    Really happy with our Axa annuities the balance is down but hopefully not for long. We like the income guarntees regardless of what the markets do.

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    2 / 9 found this review useful.
  15. Arnold in FL says:

    I did not like what AXA had to offer. I like annuities but to me the purpose of an annuity is to protect my money not risk it in the stock market so I went with American Equity I like there 10%bonus and my principal is safe not at market risk!

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    9 / 12 found this review useful.
  16. HarvardG says:

    Did my research compared and compared spent over a year making the decision Axa gave me a market advantage with better guarntees from a solid company. I have no second thoughts I would do it again without a second thought.

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    5 / 11 found this review useful.
  17. Axa is i foreign company and I like American companies so Axa is out for me.

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    6 / 19 found this review useful.

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