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Several subsidiaries of AXA operate in the U.S. Among these are Mutual of New York (MONY), US Financial Life and Alliance Bernstein, as well as the biggest, AXA Equitable Financial Services, LLC. Policies are brokered through Linsco Private Ledger, the largest independent broker in the country. AXA has been operating in the U.S. since 1859 and services about 2.7 million people in the country.
The company employs over 100,000 people worldwide, utilizing local brokerage firms in each of its territories. Its specialty is life and health insurance, sold through its many branches worldwide. It also offers business insurance to certain American companies through one of its subsidiaries.
Through its primary U.S. subsidiary, AXA Financial, the company offers life insurance to individuals and families. It sells a variety of policy types, including term life and permanent, with different policy options to suit the needs of varying customers.
The least expensive option is AXA’s term life. The company’s BrightLife Term Series last for a predetermined amount of time, providing a level amount of benefits if the insured dies at any point during that term. Terms can be purchased in 10, 15 or 20 year intervals with level premiums throughout that period.
Another option is AXA’s permanent life insurance coverages. These policies last as long as premiums are paid, and they accrue cash value, allowing them to grow over time. AXA sells whole life and universal life insurance as its permanent options.
Universal life policies generate cash value through market investments. They generally have flexible premiums, with a portion of each premium being invested in a tax-deferred account. The type of investments made varies between plans, so you can choose an option that works best for you.
Whole life insurance, meanwhile, has set premiums throughout the life of the policy, and the policy’s value increases at a steady rate. These plans are protected from market fluctuations but may not gain value as quickly as universal plans during rally markets.
AXA also sells survivorship insurance, which is a permanent life insurance plan that will insure two individuals through a single policy. It’s popular with married couples, since the surviving spouse takes over the plan when the other dies. Benefits are paid when the second person on the policy passes away.
As a financial institution, AXA offers several types of retirement planning options and investments. Among these are annuities, individual retirement accounts (IRAs) and 401(k) accounts.
AXA Life Insurance Rates
AXA does not offer rate quotes directly to consumers, therefore we are unable to compare their rates directly. Those considering AXA as their life insurance provider should contact a local agent licensed to sell their products. You can find one by visiting this link.
AXA’s claim information can be found under the “Contact Us“ link on the website. From there, choose the “File a Claim” tab.
There is no online claims form available. Instead, you be asked a handful of questions to determine which forms are correct to send to you. Once you receive and complete the forms, you then mail them back to AXA and can then track your claim online. The phone number varies depending on the policy held; Equitable Life Insurance claims should be directed to 800-777-6510. This line is available from 8am to 7pm.
AXA Financial has been accredited with the Better Business Bureau since 1937. It has an “A+” rating on the BBB website. In the past three years, the site lists 36 complaints against the company, eight of which have been closed in the last 12 months. Of these, all but eight are listed as problems with a product or service.
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Individuals cannot obtain coverage directly from AXA, from our research, therefore working with a licensed financial representative is a must. The company has a good BBB rating and their financial strength is comparable to other companies in the business.
For a list of companies that we recommend, visit our Best Insurance Companies page.