We have had 5 policies with AXA for several years. Any attempt to transfer my account resulted in exorbitant amount for fees so the math said that a transfer might "break even" after 5 years. Together with CPF Life , it provides a guaranteed foundation of your retirement income stream. AXA has been in the business of offering insurance and investments to its clients since the mid-1800s. Not customer-oriented and dangerous. I’ve rolled money from another retirement account previously and it was so simple. by Danica, Pros: Act professional when you are transferring your money in or opening an account. professional language. At the time I didn't know how these insurance salesmen (masquerading as financial advisers) were paid and I thought my friend was helping me. The IRS came after me for back taxes on the distribution. They do not respond to appointment requests.. I was also told the distribution of my funds via the first withdrawal were a mistake so they shouldn't have made it! 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. Had to close my account. by David, +They can shop the whole market, not just quote you one company's price like Northwestern Mutual does. Inefficient and inept. I went to liquidate one of my mother's assets to pay for her care at a memory facility. AXA SmartPA Protect+ Review – The Best Personal Accident Plan For Parents? Pros: They can talk circles around the numbers making you think you will have an unlimited stream of money to outlast you based on their annuity structure. This is not a company that you can count on. Normally I believe in corporate America - but this company has truely tested my faith in large corporations. After putting me on hold I found myself back in a queue where I was 39 in the queue. AXA Advisors is among largest investment companies in the U.S., This plan is in the top 15% of plans for Account Balances, Company Generosity, Salary Deferral, and Total Plan Cost. Some retirement plans, like 401(k)s, allow you to invest tax-free funds for tax-deferred investments. The year-over-year growth in 403(b) plan assets of these major players is presented below: I was not even notified that my account had been terminated until I called for a general question. Cons: Awful customer service. Extremely rude and willing to steal our money!! by Monica Daucourt, I trusted the agent which was a big mistake. Checking the following day (Thursday) nothing had changed on the online dashboard for either account (both showed that my requests were being reviewed). We will have no option but to report this to the attorney generals office and file a complaint. Then I stopped contributing and I receive emails and calls weekly to book an appt. Cons: Aweful Fees, Terrible returns, total mismanagement, terrible website. 7/11/2017, Cons: Impossible to get a hold of once you've given them your money. Plan for your financial future today with attractive offers from AXA. In about a week I received a Conformation Notice from the AXA Equitable Processing Office, which demonstrated again that AXA is an efficient institute to work with. I phone them and was told I made a mistake filling out the form. Website: www.axa.com . • Closing the VUL would result in a surrender charge of $15,500 on total premiums of $22,000 so I left the account open and will continue to let them withdraw $100/month on a $600,000 life insurance payout as well as take their 2.5% AUM fees. Run, Run as far away as you can get from anyone connected to AXA advisors! Now I use my personal broker to manage investments so they don't try to sell me investments for their own profits at my expense. On Tuesday, finally the second annuity shows up deposited in my checking account. What does it take to get someone at AXA to call me back?? Someone is not doing their job! by Previous Employee, What you need to know about Retire Smart? They even said that she was supposed to file the POA with them, but didn't. After several more unsuccessful attempts to get threw the barriers they have to reach the phone service, I resign myself to see if AXA will contact me. These insurances agents are not fiduciaries and do not have your best interest in mind when selling you their products.At age 27, I (thought) I needed help setting up retirement accounts when I became an independent contractor so I asked a "friend" who was in the business for help. 6/19/2017, I'm really annoyed at the processing time and the distribution of MY MONEY when I have requested it. Last year, Axa sold roughly $2.2 billion worth of Equi-Vest annuities within retirement plans, according to Morningstar, which include different versions of the product. Never disclosed surrender charges. There are 351 customers that AXA Insurance, rating them as bad. Among 401(k) plans with assets of less than $250 million, group annuity-style menus account for 55% of the market and are sold by AXA Equitable, Lincoln Financial and other insurers. After the year was up they refused to pay the sign up bonus because my account had less in it them than what I invested with them. Our areas of expertise are applied to a range of products and services that are adapted to the needs of each and every client across three major business lines: property-casualty insurance, life, savings & health and asset management. Compared to other retirement plans in the market, it also falls short on certain aspects. They sent link that we can’t open. Understanding A Retirement Product – AXA Retire Happy. So now I have to jump through hoops to get it to them. I feel certain you will make a different decision. 10/31/2018, Cons: The main company, way too many to list. false information, speculations, or to remove spam. The minimum premium amount is as low as INR 12,000 and the minimum term of policy is 10 years. He made a note supposedly on the account that even though I had requested direct deposit to make sure that the second annuity was processed for direct deposit as I had requested. Regular review of your retirement strategy now can help ensure that the golden years are spent doing what you love, with those you love. Apparently common sense is not so common at this company.This same assistant provided a notary for a hardship withdrawal for a client she had never met which was then sent to a client’s personal e-mail. They sucked money out of my Dad for 25 years and then cancelled his policy for being about 17 days late on a payment. I've had an annuity with them for more than 15 years and it has never gone up. They provide the financial plan for free, and when I sat down with my consultant to create this plan and determine an area that was falling behind, we figured out that there really wasn't an area. Glassdoor is your resource for information about AXA benefits and perks. Should you consider it? I had expected to be investing and creating a future with their professional guidance. Finally someone gave us number to 3rd party provider. They will be available to take your money, but will avoid you like the plague when you want to collect the money. • Extensive knowledge of qualified retirement plans – rules, regulations, industry trends • Strong customer service and communication skills • Proven ability to increase plan sponsor and participant engagement with AXA platform • Minimum 3 years’ experience working with Retirement Plans and/or retirement products (Typical term insurance for a 27 year old is in the $20-30 range per month).• 6% charge on all assets in the SEP and Roth accounts for closing both accounts.• $135 for transferring the assets in the SEP/Roth to Vanguard.• $125 for transferring the assets in the brokerage account to Vanguard.Currently, I'm sitting on a $36,000 loss for "investing" with Axa over 4.5 years while another $6,000 is slowing dwindling away each month in the VUL. Hate these people and have stopped funding it. search for a Financial Advisor on this website. This time I was 42 in the queue and finally got a customer service rep who actually listened to the fact that my accounts had appeared to disappear, she told me that she would transfer me to the right department that could help me, saying she would stay on the line with me till i got someone. ABSOLUTELY REFUSE TO mail any forms. Great caring Agent, he was not the problem, I would not want to be with anyone else. I told him to stop and asked for a supervisor and was informed he was my advisor and there was no one above him. Staff is rude. We had to spend many months dealing with the general customer service and they dragged their feet on top of having to speak with whoever answered customer service.Stay far away from AXA!! Present in 59 countries, AXA's 161,000 employees and distributors are committed to serving our 103 million clients. My first two meetings led me to believe they would guide me in the right direction. Here For You During COVID-19 NEW! 7/5/2018. We pulled out, paying the early surrender fees and moved our money to Vanguard and TIAA index funds, where costs are minuscule in comparison (< 1%) and performance tracks the market. AXA Employee Benefits. If this happens to you there is no longer anyone at AXA servicing your policy. They had no answers and no apologies. If I'd been smart enough to research this company before investing my retirement funds with them I would have gone elsewhere. Cons: Read the other reviews!!! Aweful Fees, Terrible returns, total mismanagement, terrible website. Very adept at hiding their poor performance and large hidden fees. Learn about AXA Retirement Plan, including a description from the employer, and comments and ratings provided anonymously by current and former AXA employees. I will never trust this company again and neither should anyone else. What Retirement Plan benefit do AXA employees get? Kind, sincere, christ-like and explained everything in a manner I could follow fully. 30-years Payout Period: 61 to 90 years old. Disclaimer: TopRatedFirms.com reviews of companies is our personal opinion. If AXA executives are reading this - you should be ashamed of your product. Especially important for medical expenses from injuries that need treatment from outpatient clinics. by Matt A, Cons: Retuns on investments,High fees,Evasive answers to length of annuity lenght and fees. How AXA Describes the Accumulator Series Variable Annuities. All the listed benefits are extracted from job descriptions, reviews, and Q&A posted on Indeed. No real complaints, probably since they are working directly with my consultant and not me. They have a comprehensive suite of insurance products to cover protection concerns that are designed for individual and business clients. Copyright 2010-2020 TopRatedFirms.com. by JoAnn H., None of what we were told has come true. they don't even file the correct paperwork when making a change and then I get dinged from the IRS. While annuities might offer tax deferment and insurance protection we waived the protection (more fees) and having Roth IRA's there was no tax advantage. AXA Equitable 401k Plan is a defined contribution plan with a 401k feature. DO NOT give them your business, by derek, Changed agents twice before I finally got out and away from them. This plan cushions your retirement dreams against the impact of inflation and enhances your retirement income through potential monthly dividends that will increase by about 5% every year, starting from your selected retirement age. This is a unique plan because it targets a different kind of group here. Over 5 years ago I took out an educational savings plan for my daughter with monthly automatic withdrawals. Investment performed terribly. This is tantamount to elder abuse! So again to the phone to call after trying the online customer service chat only to be told that I needed to call the customer service center that the folks that do the online chat support could not help. What Retirement Plan benefit do AXA employees get? AXA has always been very helpful… AXA has always been very helpful whenever I contacted them to clarify anything I wanted to know regarding claims, or if I required an access code to see a consultant or any other related matters. Finally, I decided to end any further contributions to the company because they were horribly unprofessional, wrote me a TOUGH LUCk email about holding my money captive in a userous way, and when I asked to see where signed that agreement. Cons: Brokers do not service client accounts. Furthermore, after getting the run around with the forms to be completed. Better to pay 2,500 to transfer funds than to continue to lose money with them. Cons: My broker was deceiving and sold me insurance I did not want. Extremely difficult to transfer money out. It seems like they come up with every obstacle to stop you from moving your money out. Often Difficult to get a person. by Rick, In addition to assisting the employer with setting up a retirement plan, they offer financial counseling to the employee enrolled in the plans as well. CPF Life makes a good Retirement plan in the sense that you get a fixed amount of pay-out each month following retirement. Retirement Products. 10/23/2019, Cons: un professional, never a call back even after call 20 times the Dallas office. If you’re considering annuities as part of your retirement income plan, you might consider working with a And no paperwork was even in the works until I started raising hell! Well, that depends on the plan you’re selecting and your needs. Pros: Very Knowledgeable, Full Service, Wide Variety of Investements. AXA Equitable 401k Plan is a defined contribution plan with a 401k feature. No one reassured me that I would be safe and that it would be taken care of or who to go to.Another one of his colleagues kept showing up just to bother me to the point where I had to leave work in the middle of the day and pay for a taxi just to get home.These people should not be working in public schools or going to houses. 6/14/2019. The total fees are 4.25% - ridiculous!!! I was definitely given the run around. I was still unable to have my request honored for direct deposit. Power’s 2019 U.S. Life Insurance Study. The main company doesn't have me on file as the Power of attorney. I paid dearly for my financial education by mistakenly getting involved with AXA Advisors. Account Settings ; Sign In; For Employers. by Sarah, A retirement plan is an investment account in which you can contribute funds, and in many cases tax-free funds, to be invested in a variety of ways. 10/23/2019. Of course some down years, but overall, AXA has done well by me and have considered investing more into my fund. Back and forth, incompetent processing, did not receive docs faxed or FedExed, apathetic on the phone, Broker could not care less about the investor. Professional all the way. As with all retirement plans, AXA’s Retire Treasure II has some good features to be noted, especially the ability to appoint a Secondary life insured. After doing some deep digging with another advisor I found I was paying a total of 5% AXA managing fees. It calls for a $5,000 minimum opening payment and a maximum issue age of 70, 75 or 85 years old, depending on the type of contract you want. AXA Equitable manages 401(k), 403(b), and 457 (b) plans. My money with AXA earned 1.079% LESS than money I had in CDs during the same period. At least Im thinking that only one was stolen so again contact AXA online chat to again be told I have to call. Opening Thoughts on the AXA Structured Capital Strategies Annuity with 5-Year Segment. So I called back again taking several tries to get past the automated system to let me past the part where it wanted me to enter my account numbers (remember I use their paperless process so with my accounts no longer showing in their dashboard I didn't have account numbers). No interest in helping with investment in AXA annunity which has never been gained one penny.. He said, "combinded"...I am not using them based on this. 10-years Accumulation period: 51-60 years old. I was then offered to go ahead and 'push it through' based on phone instructions I had just given them and the funds would be wired the next day. Impossible to get a hold of once you've given them your money. High fees and up-selling their products that were not in your best interest. Here is the list of AXA Retirement Plans available: They say I will make a great deal of money by the 5th year which when i asked by exactly the difference by how much total premium i pay and the total saving I would make didn't even make 100 euros difference because it has to be a long run investment but they always lie and guarantee that I will make a fortune. AXA Equitable Life Insurance Company Variable Annuity Review . Secondly, I have been hung up on twice when I asked for forms to be sent so I can close and transfer my account. Pros: Kind, sincere, christ-like and explained everything in a manner I could follow fully. by Investor, Equitable is the brand name of the retirement and protection subsidiaries of Equitable Holdings, Inc., including Equitable Financial Life Insurance Company (Equitable Financial) (NY, NY), Equitable Financial Life Insurance Company of America (Equitable America), an AZ stock company with main administrative headquarters in Jersey City, NJ, and Equitable Distributors, LLC. Rates. Criminals!!! by Phil, My 401k advisor never replies emails, barely reach him by phone. One of the advisors there picked up a golf club and bashed it into a wall before looking at me and stating that he wanted to see me in his office the following day. Overall company opaque on details. I should have 80,000 in the account but have about 40,000 after eight years of putting in 1000 a month. I was told that this sis something that the company does not like to disclose to clients..... WOW! For AXA SmartPA Protect+ , with just one parent covered, child get FOC coverage of 20% of parent limits. The AXA EQUI-VEST® 201 series for 403(b) plan is a deferred annuity contract that is designed for school district employees. 2/23/2018. Finally after long debate with several reps they emailed form and said we also had to go through 3rd party provider. What this company does is keep your account value down so if you start using your money, it will wipe out your account and you then no longer have a death benefit. I have shopped around multiple financial institutions and it is fair to say that AXA has by far the mot reasonable prices. Faxed them the same exact form filled out exactly as I had done before but with an extra fee for overnight processing. We'll see if the money actually gets here or else I will be back to write another review. by Sarah Smith, They're customer service is designed in a way to get nothing done. So I sat with the guy and he explain me the details "he wants to tell" ONLY, and don't tell or even mention the fees! Secure Act education . 1290 Avenue of the Americas, 12th Floor. Retirement Products. I am a public school teacher who has a 403b with them through a whole life policy. We came to our senses after two years of watching no growth, but lots of happy talk. When I wanted information on various funds in my 403B - NO ONE ever a called back for help ( I tried 23 times in the month of September) 2) after month- I called the main office in NY to complain_ never a call back from them either....3) I called my school district and asked for other companies who could receive disbursements monthly and when i told AXA I wanted to end the relationship, they said I was stuck for 6 years- NO MATTER WHAT unless i wanted to incur a huge penalty to get my money into another 403b. Consumer reviews could be edited by the website staff to keep TopRatedFirms.com free of inappropriate or offensive language, We may be compensated by the firms we review. He tells me that it looks like my accounts are set for payouts, but there is nothing that can be done till Monday, when he will follow up with the right department and then with me. These are products that typically provide a regular payout (also known as an annuity) to policyholders during retirement age. Neither is a voided check idiots. We have been trying to get a refund on an annual premium that was ACCIDENTALLY paid twice on 12/27 and 12/31. Texts go unanswered. No real complaints, probably since they are working directly with my consultant and not me. The few 5 star review I'm sure are there by AXA Brokers or their friends to try to bring up their rating. by Dennis, Overall company opaque on details. Make sure you ask the adviser if he is a "fiduciary" and ask how they get paid. Cons: Even when things got started, I had no problems. Pros: Broker: Nice, folksy individual with soothing sales pitch. 8/10/2017. They will screw you! In addition, you get guaranteed income, ideally in a monthly mode so that you can cover your core expenses.Kind-of like a CPF retirement income (there's a cap to it). HUGE fees if you try to withdraw funds and a very painstaking process at that. Cons: High fees and up-selling their products that were not in your best interest. There is no corporate office. 4/5/2019. by Virgil, They have resets that can be used to "up" your base but I have NEVER been able to use them as my account has always been worth less, and now it is almost worthless loosing more than 2/3 of what I initially "invested" with them. by Gallatin, We were sold an annuity described as a mutual fund portfolio and it was explained to us the only fee was their split of expense ratio's with the mutual fund companies. AXA Retire Happy Plus (II) is a highly flexible plan with various policy options to choose from and manages inflation with increasing guaranteed income from your selected retirement age. Please know that existing customers are provided terrible customer service. I called the number that he gave me and the automated system asked me for the account numbers to be entered before it would even put me in the queue. 4/17/2019. Since I written a whole section on retirement planning & financial independence, it does make sense for me to view these plans, putting those considerations in mind.. AXA Retire Happy Plus belongs to a class of limited payout retirement plans.. Cons: Independent contractors, having nothing to do with AXA, confusing when you call 1-800-444-6510. Often the providers are insurers like Valic, Voya, AXA and Lincoln Financial. It wasn't until then did I decide to truly do work with an AXA advisor. Even when things got started, I had no problems. After that the broker only called annually and asked if I would be contributing another annual amount. Cons: It's all a scheme. I have requested an appt with an advisor on 5 different occassions through my login account and have received no call back. AXA has numerous lawsuits against them, if anyone is interested start digging! Basically this is actually not a company. 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! Read: Review of Best 3 Retirement Plans in Singapore. Pros: None as broker never contacted me in spite of multiple calls. I'd previously championed SOMPO PA STAR to be the plan for parents to buy. I would have been much better off investing in a simple savings account even with the miserably low interest rates because at least I wouldn’t have lost money. If you are looking for a retirement plan but not sure if AXA’s retirement plan is what you need, simply drop us an inquiry below and our partnered professional Financial Advisor brokers will get back to you shortly. Cons: DO NOT USE THEIR UNPROFESSIONAL AND DONT KNOW HOW TO CONDUCT BUSINESS. A retirement plan is an essential Income Generating Asset for retirement income. My experience with Equitable was awful. Very adept at hiding their poor performance and large hidden fees. Please listen to me and don't make the same financial disaster mistake I made by "investing" with Axa. Cons: Extremely difficult to transfer money out. 1/7/2019, Cons: Insurance agent posing as Financial Adviser, Dishonest, 2.5% AUM Fees, 6% Termination Charges. Hi Elijah, thanks for your detailed overview. Professional all the way. No screw-ups, no back and forth calls. 3/8/2018, Pros: Seemingly good investment opportunities and variety of options, Cons: Lack of implementation and trustworthiness. Immediately opening the online customer service chat, the rep that I talked to said he couldn't understand what happened and that he couldn't see my accounts either. AXA Hong Kong recently conducted an online survey wherein 1,032 Hong Kong residents (aged 18 or above) took part. In achieving these goals, we need a game plan to prepare ourselves for the challenges ahead. This is the most dishonest and untrustworthy organization I have ever dealt with. You call that customer service?????? AXA Financial Services is part of the France-based AXA Group and is one of the largest life and retirement savings companies in the U.S. With the ability to offer insurance and investment advisory services, your advisor will help you meet your goals. On another note, my first experience with an AXA professional set the tone for the rest of my time with them. To qualify for Axa’s health insurance plan and retirement benefits, moreover, brokers must sell a certain amount of proprietary insurance-related products, including annuities. I never agreed to any insurance on 2 year old! Every payment that I have made - these guys have screwed it up. Bottom line don't deal with them. They suck. I told them "Don't you think I should have been told there was a mistake so I wouldn't make the same mistake twice?" What I really wanted to hear was "We will amend our procedures so it doesn't happen again" but it was never said. Is a fiduciary strictly for himself. I believed the person because of our friendship and trusted far too much. I pointed out to the Him that he only calls for money and he had no response nor solution to the high fees. Similar to AXA’s Retirement Happy, this plan also adjusts the retirement income up by 3.5% each year. After waiting on hold for 47 minutes (getting to #6 in the queue) the system hung up on me. DONT GET AXA put your money somewhere else. Reviews from AXA employees about working as a Plan Manager at AXA. 12/19/2018, Cons: When calling, the wait was at least 15 - 20 min; lack of knowledge of product. Will advise you to take your money elsewhere. When we call, they state that I am not the owner of the policy but when my mother calls, she is not the owner either. I called the corporate number to file a complaint and talk to someone about the lack of communication with my broker. I suspect this is to present a daunting and confusing task to discourage people from getting their funds and making mistakes that they use to keep you from getting your money back. After 4 years of very negative returns due to the overpriced policy that finally dropped off, the agent refused to admit any wrong doing. DO NOT USE THESE IDIOTS. In addition to assisting the employer with setting up a retirement plan, they offer financial counseling to the employee enrolled in the plans as well. My opinions aren't necessary. Went through pure hell to roll-over my accounts to another company. We reserve the right to delete any brokerage customer reviews that don't meet above They were impossible to contact and deal with. Simply choose the fund closest to your retirement. This plan has a BrightScope Rating of 80. AXA aims to provide protection for businesses, assets and people. Also check our Best Early Stage Critical Illness (CI) Plan comparison. AXA XL Retirement Plan 4 employees reported this benefit. When I mentioned the lack of communication, the defensive person on the other side berated me for not picking up my phone. Found out that most of the premiums went towards the brokers commisions. Let Dave Ramsey teach about them. So I answered that I was a customer but when it requested I enter the account numbers I didn't enter anything. That, with other funds tied up in a “can’t lose” annuity. 1/11/2019. Is AXA travel insurance worth it? Stay away from Equitable/AXA! AXA Advisors Empire State Marketing Center has the resources to help clients take 2020 AXA Equitable Roth IRA, Traditional IRA, 401k Rollover IRA, SEP/Coverdell Savings IRA (individual retirement accounts) review, investing options, rating, fees and commissions. I plan on moving my money as soon as I can.

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