A life insurer has introduced a life insurance product designed for companies that will be including 5 or more owners or key executives in executive benefit plans.

AXA Equitable Life Insurance Company, New York, a unit of AXA S.A., Paris, says its new Athena Universal Life Employer-Sponsored Life Insurance policy is a flexible-premium universal life insurance product.

The policy could be used in income deferral plans, supplemental executive retirement plans, multi-life split-dollar plans, and multi-life executive bonus plans, AXA Equitable says.

AXA Equitable is responsible for backing the policy guarantees.