AXA Equitable Life is offering teachers a new asset allocation strategy that comes with what amounts to a buffer annuity feature inside their 403(b) retirement plans.
(Related: AXA Equitable Posts Strong Buffer Annuity Sales)p
The company’s new Semester Strategies asset-allocation feature can protect a user against a loss of up to 10% in the value of the buffered assets.
AXA Equitable Life — an arm of AXA Equitable Holdings Inc. — has been an active player in the 403(b) plan market, which offers educators access to retirement accounts that resemble 401(k) plan accounts.
AXA Equitable Life is starting by having the new asset-allocation feature bolt on to the AXA Equitable Equi-Vest group variable annuity contract. That contract is aimed at 403(b) plans at elementary schools, middle schools and high schools.
AXA Equitable Life is also planning to make the program available with its other group variable annuity contracts.