AXA Equitable Life Insurance Company has revised its Athena Universal Life insurance policy.
AXA Equitable, a unit of AXA S.A., Paris, says the flagship UL policy is now a hybrid that offers both a long term no-lapse death benefit guarantee and the ability for owners to build up cash value.
The Athena Universal Life policy offers the no-lapse guarantee at no additional charge. Depending on issue age, the guarantee can stay in force up to age 90, even if the account value falls to 0, provided that the UL meets premium level and other policy requirements, the insurer says.
The guarantee helps keep the costs of insurance down while increasing the potential for cash value accumulation, the company says.