In “AXA Equitable Launches Variable Annuity With Dual-Account Investment Platform,” a staff reporter at Insurance Business Review describes AXA’s new product. AXA Equitable Life Insurance Company says that their new variable annuity gives a greater selection of investment portfolios and protection from the downside. Variable annuities across the market are changing after losing steam in the recent financial crisis. Retirement Cornerstone is their new dual-account investment platform. It is a tax-deferred platform supporting two accounts that are interactive. The first focuses on maximizing the performance of your investments by using money managers. The second account is optional and simply focuses on retirement protection.
The account focused on long-term accumulation gives the choice of over 90 different investment portfolios with different investment styles and asset classes. The account with downside-protection has a guaranteed income benefit option which invests in index portfolios and asset allocation. The Retirement Cornerstone has what AXA believes to be one of the best annuity rates available for similar products. Their roll-up rate is one point higher than the 10-year treasury rate average and is updated annually. The dual-account platform has many tax benefits including tax-free transfers among portfolios which helps investors build lifetime income and respond to changes in economic conditions. AXA believes that their new annuity product is a unique response to the past market turmoil which allows investors to build up their cash and protect it in the future.