AXA Group

In light of the increase in life expectancy, investing in risk-free bonds does not make it possible to provide the desired level of income throughout retirement. The best available solution is to invest in equities to achieve superior returns in the long run, and have protection against the downside risk of equity investment.

Launched several years ago, "Accumulator" enables AXA Equitable USA to offer a pension savings product that combines flexible conditions with guaranteed returns in order to meet this need, providing clients with:

· A wide range of investment options, notably on equities, suitable for various risk profiles

· Optional protection against poor market performance thanks to a guaranteed minimum level of income on retirement and a guaranteed minimum death benefit.

The client pays a clearly defined premium for this protection - depending on his or her appetite for risk. Alternatively, they may also invest in this product or mutual funds directly without any such protection.

Accumulator provides the guarantees that are needed by clients, as highlighted by the AXA Retirement Survey. Thanks to its open architecture, this product represents one of the Group's first global ranges. In this way, AXA Australia is now offering an Accumulator range, while AXA Germany launched its local version - called Twinstar - in 2006, and France and Belgium have also got on board with Arpèges.

In the wake of the market changes brought about by the Fillon reform in France in 2004, AXA France has launched a three-phase program to accompany clients from the start of their careers through to their retirement. At all the stages in their lives, they will be accompanied by their AXA correspondent, who will provide advice in light of their own specific situation, expectations and savings potential. More than just a product, this represents a "retirement coaching" program:

• Preparation: taking stock of the client's personal situation, estimating the amount of their pension, defining their needs, selecting appropriate solutions, and estimating tax savings.
• Construction: adjusting their savings as effectively as possible, adapting payments to their income levels, providing regular updates, with an optional career record assistance service.
• Retirement: helping them to live their retirement to the full, providing support on the steps involved to settle their pension benefits, managing income from AXA savings, and helping them with the transfer of their assets.

The Mediterranean Region countries have grouped their know-how together in order to design their first joint life product: Protezione Prima Persona in Italy, Primeira Pessoa in Portugal and Primera Persona in Spain. This product offers clients a range of cover that can be adjusted in line with their age. More specifically, it offers accident coverage for young people, serious pathology coverage for older clients and "dependency" coverage for senior citizens.

• The insurance products from the Clinical Underwriting range combine insurance cover with personal services.
• The "Fil Bleu" (Blue Line) assistance service is designed to combat isolation and lack of security among the elderly.

Further details on this type of cover are available in the "Heath Prevention" section