Hell will freeze over before I would recommend AXA to anyone. Furthermore, withdrawals may “significantly reduce” the future income payments of the Personal Income Benefit for which you’re paying that additional 1%.AXA also gives you other options if you don’t want to pay the income rider fee. Its benefits include providing for the accumulation of retirement savings via tax-deferred growth. As I found out through researching AXA 403(b)’s, they are, in my opinion, one of the worst products on the market. AXA should have to reimburse me interest on my account at same rate I was paying Master Charge since they have kept my money for more than two weeks preventing me from paying it off!I have unfortunately held an AXA contract since January 2008. But you remember you have a death benefit! I had expected to be investing and creating a future with their professional guidance. In this case, the AXA Equi-Vest variable annuity agrees to pay out your total contributions even if your account takes a terrible market hit.AXA has entered into sub-advisory agreements with Fidelity, Goldman Sachs, Invesco, Ivy Funds, Lazard, MFS, Oppenheimer, PIMCO, Franklin Templeton and Van Eck. Hi, I am a new teacher in NY and someone from AXA has been in the school for the past week pushing the AXA Equitable Equi-Vest 403b plan.
This company, and I believe annuities in general, are total rip offs of the public. Buying this variable annuity or any annuity cannot give you double tax-deferral because there’s no such thing. The customer service online chat again tells me that I have to call customer service and they do not have a different number, I begin looking online for AXA corporate headquarters to see if I can find a human being to help. Just some of the other offerings provided by AXA include the following: Annuities; Individual Retirement Accounts (IRAs) Retirement Accounts – 401(k), 403(b), 457(b) Plans; Brokerage and Advisory Accounts
He told me that I could get them to cancel the check and do a direct deposit but it would take almost a week since even though they had just cut the check (and hadnt actually mailed it yet according to postmark) that they had to make sure it had not been cashed. Thanks for wasting our time!These guys have an antiquated payments system. DONT GET AXA put your money somewhere else.Run, Run as far away as you can get from anyone connected to AXA advisors! The agent snuck in an insurance policy on my daughter at an absurd rate so that 25% of my monthly premium was going to pay insurance only.
I very much appreciate her excellent proficiency and work ethic. After waiting on hold for 47 minutes (getting to #6 in the queue) the system hung up on me.
GO TO EQUITABLE.COM. Find out why I suggest every teacher dump their AXA 403 (b): [VIDEO REMOVED FOLLOWING PRESSURE FROM AXA’S LEGAL COUNSEL] They had no answers and no apologies. If I start with the 457 and then get a 403(b) with lower expenses added, do you know if I can transfer the funds? DO not invest with this company! At least Im thinking that only one was stolen so again contact AXA online chat to again be told I have to call. If this happens to you there is no longer anyone at AXA servicing your policy.
The agent has all paperwork. This has caused my policy to lapse now on two separate occasions. We will have no option but to report this to the attorney generals office and file a complaint. Often, this means defaulting to one of the larger 403(b) providers, who we’ve laid out in the chart below:But let’s face it, as a small nonprofit, there are just some things that you struggle to find the time, resources, or staff to do. I was told that this sis something that the company does not like to disclose to clients..... WOW!
Is AXA Equitable scam or a good financial company? Then the market takes a turn for the worse and drops by 30%.
I believed the person because of our friendship and trusted far too much. The contract also offers death benefit protection and, as discussed earlier, it offers a Personal Income Benefit for an additional cost.For example, if you are contributing $1,500 a month to your retirement plan, and 10 years into your contract you want to make a small withdrawal to pay off your home, you would have to pay 5% to AXA on any contributions made during the five previous years. AXA Equitable Life Insurance Company is the #1 provider of retirement plans for K-12 schools, serving more than 820,000 participants in over 17,000 plans. ). He tells me either way he will call me Monday morning to let me know the status.
And as it happens, when it comes to weighing your 401(k) plan options - it’s really a case of “How much more responsibility do you want to take on?” Terrible customer service. I provided a canceled check on the forms for direct deposit into my checking account.
When your contract is annuitized, your money is converted into payouts (this being the payout phase). This company is awfulNeeded an emergency withdrawal. I've had an annuity with them for more than 15 years and it has never gone up. There should be a minus star rating for AXA.Overall, this is a terrible company!