AXA Equitable places the funds in an insulated separate account that is sheltered from other credit or policyholder obligations arising from AXA Equitable’s other businesses. The funds in the separate account are invested in securities such as short-term government securities and investment grade obligations issued by large corporations. These investments provide the separate account with a return that allows AXA Equitable to credit a particular rate of interest to contract holders. The crediting rate may change in limited, defined circumstances.
The principal guarantee provided by AXA Equitable is fully collateralized by the assets of the separate account. AXA Equitable has agreed that as regards the separate account, assets held in the separate account together with the assets held in AXA Equitable’s general account that support their contractual commitment will at all times meet or exceed liabilities. Guarantees are based on the claims paying ability of AXA Equitable.
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Posted in: Services: Escrow Shield Plus