A life insurer has introduced a series of flexible-premium universal life insurance products.

AXA Equitable Life Insurance Company, New York, a unit of AXA S.A., Paris, has created the Athena Series group of UL policies.

The group includes the Athena Universal Life with a built-in Lapse Protection Rider policy and the Athena Universal Life Death Benefit policy.

AXA Equitable is marketing the lapse-protection rider policy, which provides a guaranteed death benefit for a relatively modest, guaranteed premium rate, as an alternative to whole life insurance.

The death benefit policy comes with a more flexible premium-structure, AXA Equitable says.