FILED PURSUANT TO RULE 424(B)(3)
REGISTRATION NO. 333-180965
AXA Equitable Life Insurance Company ("AXA EQUITABLE")
SUPPLEMENT DATED DECEMBER 16, 2013 TO THE CURRENT PROSPECTUS FOR
INCENTIVE LIFE OPTIMIZER(R) II
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FOR USE IN FLORIDA 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.
Subject to eligibility requirements, an optional rider may be added to your
policy at issue that provides an acceleration of all or part of the policy's
death benefit in the form of monthly payments if the insured becomes
chronically ill or cognitively impaired and is receiving qualified long-term
care services in accordance with a plan of care. This is our Long-Term Care
Services Rider/SM/. The monthly rate charged for this rider varies based on the
individual characteristics of the insured, the benefit percentage you select
and whether you select the rider with or without the optional Nonforfeiture
Benefit. You can terminate this rider at any time, subject to any continuation
of coverage under the optional Nonforfeiture Benefit, if elected.
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." The purpose of this Supplement is to describe the new
Long-Term Care Services Rider/SM/ that is available in Florida on or about
December 16, 2013. This Supplement makes references to the corresponding
sections of your Prospectus.
"Appendix V: State policy 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 some
states. This Supplement updates "Appendix V: State policy availability and/or
variations of certain features and benefits" by replacing the existing
description of certain variations that apply to the version of the Long-Term
Care Services/SM/ Rider available in Florida with the following:
EVM 25 (12/13) 151179 (12/13)
IL Optimizer(R) II (IF/NB) #637510
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STATE FEATURES AND BENEFITS AVAILABILITY OR VARIATION
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FLORIDA Long Term Care Services/SM/ In Florida, we refer to this rider as the "Long Term Care
Rider Insurance Rider" (Rider Form No. R12-10FL).
See "Long Term Care The monthly charge per $1,000 of the amount for which
Services Rider/SM/" in we are at risk is as follows:
"Risk/benefit summary:
Charges and expenses you With the optional Nonforfeiture benefit:
will pay" Highest: $1.19
Lowest: $0.07
Representative: $0.17
Without the optional Nonforfeiture benefit:
Highest: $1.19
Lowest: $0.07
Representative: $0.17
See "Long Term Care The following paragraph replaces the second paragraph in
Services/SM/ Rider" under this section in its entirety:
"Other benefits you can add
by rider" in "More An individual qualifies as "chronically ill" if they have been
information about policy certified by a licensed health care practitioner as being
features and benefits" unable to perform, without substantial assistance from
another person, at least two activities of daily living for a
period of at least 90 days due to a loss of functional
capacity; or requiring substantial supervision for protection
from threats to health and safety due to severe cognitive
impairment.
The following two sentences replace the final two
sentences of the third paragraph of this section in their
entirety:
We also, at our own expense, may have the insured person
examined as often as reasonably necessary while a claim is
pending. This rider may not cover all of the costs associated
with long-term care services which may be incurred by the
buyer of this rider during the insured person's period of
coverage.
ELIMINATION PERIOD
The "Elimination Period" subsection is replaced in its
entirety with the following:
. Elimination Period. The Long-Term Care Services/SM/
Rider has an elimination period that is the required period
of time while the rider is in force that must elapse before
any benefit is available to the insured person under this
rider. The elimination period is 90 days, beginning on the
first day of any qualified long-term care services that are
provided to the insured person. Generally, benefits under
this rider will not be paid until the elimination period is
satisfied, and benefits will not be retroactively paid for the
elimination period. The elimination period can be satisfied
by any combination of days of a long-term care facility
stay or days of home health care, and the days do not
have to be continuous. There is no requirement that the
elimination period must be satisfied within a consecutive
period of 24 months starting with the month in which
such services are first provided. The elimination period
must be satisfied only once while this rider is in effect.
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STATE FEATURES AND BENEFITS AVAILABILITY OR VARIATION
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FLORIDA See "Long Term Care PERIOD OF COVERAGE
(CONTINUED) Services/SM/ Rider" under The first paragraph of the "Period of coverage" subsection
"Other benefits you can add is replaced in its entirety with the following:
by rider" in "More
information about policy . PERIOD OF COVERAGE. The period of coverage is the
features and benefits" period of time during which the insured 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 elimination
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
qualified long-term care services;
2. the date we determine the insured person is no longer
eligible to receive qualified long-term care services 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 (or if your coverage is continued as
a Nonforfeiture benefit, the date the maximum total
Nonforfeiture Benefit has been paid out);
5. the date you surrender the policy (except to the extent of
any Nonforfeiture Benefit you may have under the rider);
6. the date we make a payment under the living benefits
rider (for terminal illness) if it occurs before coverage is
continued as a Nonforfeiture Benefit; or
7. the date of death of the insured person.
PREEXISTING CONDITION
No benefits will be provided under this rider during the first
180 days from the effective date of the policy for long-term
care services received by the insured person due to a
preexisting condition. However, each day of services
received by the insured person for a preexisting condition
during the first 180 days that this rider is in force will count
toward satisfaction of the elimination period.
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STATE FEATURES AND BENEFITS AVAILABILITY OR VARIATION
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FLORIDA See "Long Term Care The following paragraph replaces the first paragraph in this
(CONTINUED) Services/SM/ Rider" under section in its entirety:
"Optional rider charges" in
"More information about . LONG-TERM CARE SERVICES/SM/ RIDER. If you choose this
certain policy charges " rider without the Nonforfeiture Benefit, on a guaranteed
basis, we may deduct between $0.07 and $1.19 per $1,000
of the amount for which we are at risk under the rider from
your policy account value each month. If you choose this
rider with the Nonforfeiture Benefit, on a guaranteed basis,
we may deduct between $0.07 and $1.19 per $1,000 of the
amount for which we are at risk under the rider. We will
deduct this charge until the insured reaches age 121 while
the rider is in effect, but not when rider benefits are being
paid. The amount at risk under the rider depends on the
death benefit option selected under the policy. For policies
with death benefit Option A, the amount at risk for the rider
is the lesser of (a) the current policy face amount, minus the
policy account value (but not less than zero); and (b) the
current long-term care specified amount. For policies with
death benefit Option B, the amount at risk for the rider is the
current long-term care specified amount. The current
monthly charges for this rider may be lower than the
maximum monthly charges.
Distributed by affiliate AXA Advisors, LLC and for certain contracts
co-distributed by affiliate
AXA Distributors, LLC
1290 Avenue of the Americas
New York, NY 10104.
Copyright 2013 AXA Equitable Life Insurance Company
All rights reserved.
AXA EQUITABLE LIFE INSURANCE COMPANY
1290 AVENUE OF THE AMERICAS
NEW YORK, NY 10104
212-554-1234
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