AXA Equitable Life Insurance Company
The French insurance company, Compagnie d’Assurance Mu tuelle contre l’Incendie is founded. Over the next 165 years, it merges with more than a dozen other French insurers to become the leading member of the AXA Group.
In March, 1859, Henry Hyde leaves his position as cashier at the Mutual Life Insurance Company of New York – later known as Mutual of New York (MONY) – to start his own company.
In 20 weeks, Hyde uses his persuasive powers to raise the necessary $100,000 of capital required by New York State law for a new insurance company. On July 26, 1859, Hyde officially founded The Equitable.
Cyrus Field’s implementation of the first transatlantic cable allows Henry B. Hyde to communicate with his European agents almost as quickly as he could with general agents around the United States. Field serves on Equitable’s Board of Directors.
Henry Hyde introduces tontines — annuity products that pay deferred dividends. Hyde develops four kinds of tontines, each with three different options for policyholders, and markets them as “Tontine Savings Fund Assurance.” They become extremely popular and go on to dominate the industry for 35 years[1867 to 1905].
Pioneering the idea of making an office building a promotional tool as well as a workplace, Equitable becomes the first American business to build its own corporate headquarters and put its name on it. The building, at 120 Broadway in Manhattan is the first to use steam elevators, paving the way for future skyscrapers. It is characterized by one reporter as “an indescribable impression of splendor,” serving as a vivid image of the Equitable’s global strength and scope.
Equitable pioneers the practice of paying death claims immediately.
Equitable becomes the largest insurance company in the world as measured in surplus.
Life Insurance Products & Services
Featured Product:
Athena Indexed Universal LifeSM
- Permanent Life Insurance
- Four Indexed Options for Potential Cash Value Accumulation
- Premium Flexibility
- Choice of Two Death Benefit Options
Temporary Insurance:
Temporary Life Insurance
Pure protection for a limited time
- Does not build cash value
- Premiums remain level or increase
- Can be less expensive than permanent insurance
Permanent Insurance
Universal Life Insurance
More options, with fewer guarantees than Whole Life
- Provides protection in case of death, as well as a cash value component
- Flexible premiums
Indexed Universal Life Insurance
Growth potential with a downside floor offering more safety
- Insurance protection with investment opportunity through equity index-linked interest options up to a cap
- Invest in a few indexed options or a Guaranteed Interest Option
- Flexible premiums
Variable Universal Life Insurance
Growth potential with greater risk than Universal Life
- Insurance protection with investment opportunity
- Wide range of investment options
- Flexible premiums
Whole Life Insurance
Regular premium payments with guarantees
- Guarantees a minimum death benefit no matter how long you live, as long as premiums are paid
- Guaranteed level premium, and guaranteed minimum cash value
