If you own or owned an Athena Universal Life II policy issued by AXA Equitable Life Insurance Company that was subject to a cost of insurance rate increase announced in October 2015, your rights may be affected.

What is the Lawsuit About?

The class action lawsuit alleges that AXA Equitable breached its contracts with certain policy owners and circulated illustrations with misrepresentations. In October 2015, policyholders were issued letters announcing that their insurance policies would be subject to the COI Rate Increase, and Plaintiffs assert the COI Rate Increase violated the terms of the policyholders’ contracts, and that Plaintiffs and members of the Classes have been damaged as a result. Plaintiffs also allege that AXA Equitable planned to increase the COI rates of the AUL II policies as early as July 10, 2006, but concealed that fact in illustrations promulgated in connection with the issuance and maintenance of the policies until the COI Rate Increase was announced in 2015. AXA Equitable denies Plaintiffs’ claims and asserts multiple defenses, including that AXA Equitable’s challenged actions are consistent with the terms of the policy contracts and applicable laws and regulations, justified, and have not harmed Plaintiffs or caused any damages.

Who Is Included in the Classes?

The Classes consists of the following two nationwide Classes and the New York Sub-Class:

Nationwide Policy-Based Claims Class: All persons or entities who, on or after March 8, 2016, are or were registered owners of AUL II policies that were issued by AXA Equitable and subjected to the cost of insurance rate increase announced by AXA Equitable on or about October 1, 2015, as well as those persons’ or entities’ heirs, successors, or assigns.

Nationwide Illustration-Based Claims Class: All persons or entities who, on or after March 8, 2016, are or were registered owners of an AUL II policy without a Lapse Protection Rider that was issued by AXA Equitable after July 10, 2006 and subjected to the cost of insurance rate increase announced by AXA Equitable on or about October 1, 2015.

New York Illustration-Based Claims Sub-Class: All members of the Nationwide Illustration-Based Claims Class who reside in New York.

To learn more details, your options, and how your legal rights may be affected, please review the Long Form Notice, Important Documents and answers to the Frequently Asked Questions provided on this website.