FILED PURSUANT TO RULE 424(B)(3)
REGISTRATION NO. 333-180965
AXA Equitable Life Insurance Company
SUPPLEMENT DATED OCTOBER 21, 2013 TO THE CURRENT PROSPECTUS FOR
INCENTIVE LIFE LEGACY(R) II/INCENTIVE
LIFE OPTIMIZER(R) II
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FOR USE IN NEW YORK ONLY
This Supplement updates certain information in the most recent prospectus and
statement of additional information you received and in any supplements to that
prospectus and statement of additional information (collectively, the
''Prospectus''). You should read this Supplement in conjunction with the
Prospectus and retain it for future reference. Unless otherwise indicated, all
other information included in the Prospectus remains unchanged and the
Prospectus is hereby incorporated by reference. The terms and section headings
we use in this Supplement have the same meaning as in the Prospectus. We will
send you another copy of any prospectus or supplement without charge upon
request. Please contact the customer service group referenced in the Prospectus.
The purpose of this Supplement is to describe the Long-Term Care Services
Rider/SM/ that is available in New York on or about October 21, 2013.
The current national version of the Long-Term Care Services/SM/ Rider is
described in your current prospectus under "More information about policy
features and benefits." "Appendix II: Policy Variations" describes policy
variations that differ from what is described in the prospectus but may have
been in effect at the time your policy was issued. "Appendix III: State
contract availability and/or variations of certain features and benefits"
describes certain variations from the standard Long-Term Care Services/SM/
Rider that are specific to the form of the rider sold in New York.
I. UPDATE TO APPENDIX II: POLICY VARIATIONS
This Supplement updates "Appendix II: Policy Variations" by adding the
following new entry to the list of policy variations:
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APPROXIMATE TIME PERIOD FEATURE VARIATION
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March 17, Long Term Care This form of the rider
2008-October 20, 2013 Services/SM/ Rider is no longer available
(New York only) (Rider Form No. R11-80NY) for purchase.
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II.UPDATE TO APPENDIX III: STATE CONTRACT AVAILABILITY AND/OR VARIATIONS OF
CERTAIN FEATURES AND BENEFITS
This Supplement deletes in its entirety the prior version of the New York
section of "Appendix III: State contract availability and/or variations of
certain features and benefits" and replaces it with the following:
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STATE FEATURES AND BENEFITS AVAILABILITY OR VARIATION
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NEW YORK See "Long Term Care The following paragraph replaces the third paragraph in
Services/SM/ Rider" under this section in its entirety:
"Other benefits you can add
by rider" in "More Benefits are payable once we receive: 1) a written
information about policy certification from a U.S. licensed health care practitioner
features and benefits" that the insured person is a chronically ill individual who is
receiving qualified long-term care services in accordance
with a plan of care and will require continuous care for the
rest of his or her life; 2) proof that the "eligibility period,"
as discussed below, has been satisfied; and 3) written
notice of claim and proof of loss in a form satisfactory to
us. In order to continue monthly benefit payments, we
require recertification by a U.S. licensed health care
practitioner every twelve months from the date of the initial
or subsequent certification that the insured is still a
chronically ill individual receiving qualified long-term care
services in accordance with a plan of care and will require
continuous care for the remainder of his or her life.
Otherwise, unless earlier terminated due to a change in the
status of the insured or payout of the maximum total
benefit amount, benefit payments will terminate at the end
of the twelve month period. We also, at our own expense,
may have the insured person examined as often as we may
reasonably require during the period of coverage, but not
more frequently than every 90 days. This rider may not
cover all of the costs associated with long-term care
services during the insured person's period of coverage.
EVM 17 (10/13) 151161 (10/13)
IL Legacy II/IL Optimizer(R)
II (IF/NB) #598714
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STATE FEATURES AND BENEFITS AVAILABILITY OR VARIATION
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NEW YORK MAXIMUM MONTHLY PAYMENTS
(CONTINUED) The maximum monthly payment limitation for this rider is
as follows:
Each month, the monthly benefit payment (a portion of
which will be applied to repay any outstanding policy loan)
for qualified long term care services for the insured person
is the lesser of:
1. the maximum monthly benefit (or lesser amount as
requested, however, this may not be less than $500); or
2. the monthly equivalent of 100% of the per day limit
allowed by the Health Insurance Portability and
Accountability Act or "HIPAA". To find out the current per
day limit allowed by HIPAA, go to www.irs.gov. We may
also include this information in your policy's annual report.
At issue, the maximum monthly benefit is equal to the long
term care specified amount multiplied by the benefit
percentage selected. After that, the maximum monthly
benefit is equal to the maximum total benefit as of the first
day of the period of coverage multiplied by the benefit
percentage selected, and will not change thereafter.
ELIMINATION PERIOD
The "Elimination Period" subsection is renamed "Eligibility
Period". Accordingly, all references to the "elimination
period" are replaced with references to the "eligibility
period". Once the eligibility period has been satisfied,
benefits will be retroactively paid for the eligibility period.
PERIOD OF COVERAGE
The first paragraph of the "Period of coverage" subsection
is replaced in its entirety with the following:
. PERIOD OF COVERAGE. The period of coverage is the
period of time during which the insured person receives
services that are covered under the Long-Term Care
Services/SM/ Rider and for which benefits are payable. This
begins on the first day covered services are received after
the end of the eligibility period, although benefits are
payable retroactively to the beginning of the eligibility
period. A period of coverage will end on the earliest of the
following dates:
1. the date we receive the notice of release which must be
sent to us when the insured person is no longer receiving
continuous qualified long-term care services;
2. the date we determine you are no longer eligible to
receive benefits under this rider;
3. the date you request that we terminate benefit payments
under this rider;
4. the date the accumulated benefit lien amount equals the
maximum total benefit;
5. the date you surrender the policy;
6. the date we make a payment under the accelerated
death benefits rider (for terminal illness); and
7. the date of death of the insured person.
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STATE FEATURES AND BENEFITS AVAILABILITY OR VARIATION
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NEW YORK The effects of a period of coverage ending as described in
(CONTINUED) the "Period of Coverage" subsection also apply if the
contract owner exercises the fixed paid-up option during the
period of coverage. It is not anticipated that there will be
more than one period of coverage for the term of this rider.
FIXED PAID-UP OPTION
If you exercise the fixed paid-up option of your policy, your
coverage under this policy will be continued in a reduced
amount and there will be no further charges for this rider.
If such exercise occurs during the period of coverage, the
accumulated benefit lien amount will be reset to zero after
policy values have been reduced as described in the Period
of Coverage" subsection. The face amount of paid-up
insurance will be whatever the resulting net cash surrender
value will buy when applied as a net single premium.
If benefits have previously been paid under this rider, the
maximum monthly benefit will not change. If benefits have
not previously been paid under this rider, the maximum
monthly benefit will be equal to the maximum total benefit
as determined immediately before the fixed paid-up option
went into effect multiplied by the benefit percentage.
When the fixed paid-up option goes into effect, the
maximum total benefit will be re-determined as the sum of
all monthly charges deducted for this rider since policy
issue, excluding any such charges that were not deducted
while rider benefits were being paid. This maximum total
benefit will be reduced, but not below zero, by all monthly
benefit payments made under this rider, including any loan
repayments. However, the resulting maximum total benefit
will not exceed the lesser of (a) the maximum total benefit
of this rider as determined immediately before the fixed
paid-up option went into effect, and (b) the face amount of
paid-up insurance multiplied by the acceleration
percentage.
If you elect to continue coverage as described above, you
will receive additional information regarding this benefit,
including the available maximum total benefit.
OTHER VARIATIONS
The "Extension of benefits" feature is not available.
The Nonforfeiture benefit is not available.
The pre-existing condition limitation does not apply.
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STATE FEATURES AND BENEFITS AVAILABILITY OR VARIATION
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NEW YORK See "Tax treatment of The benefits paid under this rider are intended to be
(CONTINUED) living benefits rider or treated for Federal income tax purposes as accelerated
Long Term Care Services/SM/ death benefits under section 101 (g) of the Code on the life
Rider under a policy with of a chronically ill insured receiving qualified long-term care
the applicable rider" in services within the meaning of section 7702B of the Code.
"Tax Information" The benefit is intended to qualify for exclusion from income
within the limits of those provisions of the Code in effect at
the issuance of this rider. Receipt of these benefits may be
taxable. Charges for this rider may be considered
distributions for income tax purposes, and may be taxable.
This rider is not intended to be a qualified long-term care
insurance contract under section 7702B(b) of the Code.
The long term care specified amount for this rider will not
be increased by operation of section 7702 of the Code.
Copyright 2013 AXA Equitable Life Insurance Company.
All rights reserved. Incentive Life Legacy is
a registered trademarks of AXA Equitable Life Insurance Company.
AXA EQUITABLE LIFE INSURANCE COMPANY
1290 AVENUE OF THE AMERICAS
NEW YORK, NY 10104
212-554-1234
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