AXA Equitable Life Insurance Company says it will make the benefits guarantees that come with its AXA Equitable Accumulator variable annuity products more flexible.

AXA Equitable, New York, an affiliate of AXA S.A., Paris, says some of the guaranteed minimum income benefit and guaranteed minimum death benefit riders that come with the Accumulator products now will permit holders to re-set the protected level of benefits every year.

In the past, holders have been able to lock in gains only once every 5 years.

The first re-set can take place on the 1-year anniversary of the contract, and the last re-set can take place on the contract anniversary after the contract owner reaches age 75, AXA Equitable says.

After re-setting the minimum income benefit, the holder must wait either 10 years or until the original exercise data, whichever is later, to use the minimum income benefit, AXA Equitable says.

The holder cannot exercise the GMIB after age 85.

The annual re-set is available only to customers who choose the GMIB option together with the “greater of 6% roll-up to age 85 or the annual ratchet to age 85″ GMDB option, AXA Equitable says.