The Adventure of a Lifetime

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Life insurance and annuity products are issued by AXA Equitable Life Insurance Company. Securities products and services are offered through AXA Advisors, LLC, member of FINRA. AXA Equitable and AXA Advisors are affiliated companies located at 1290 Avenue of the Americas, New York, NY 10104, (212) 554-1234. AXA Equitable and AXA Advisors do not provide tax or legal advice.

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Four Challenges of Wealth Management

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Challenges of Wealth Management

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“20 Minutes”

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“Look to the future, because that is

where you’ll spend the rest of your

life.”

— George Burns, Comedian, 1896–1996

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— Percentage of workers

reporting that they plan on

working for pay in

retirement

Source: Employee Benefit Research Institute, 2007 Retirement Confidence Survey

66%Retirement Confidence Survey

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Living Comfortably in Retirement

Percentage of workers who are very confident about having enough money to live comfortably in retirement.

27%Retirement Confidence Survey

Source: Employee Benefit Research Institute, 2007 Retirement Confidence Survey

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Do You Know How Much You Will Need?

Percentage of respondents who attempted to determine how much they would need to save for retirement.

43%

Source: Employee Benefit Research Institute, 2007 Retirement Confidence Survey

Retirement Confidence Survey

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Do You Know When?

Percentage of respondents who said they left the workforce earlier than planned.

40%

50% of these cited health or disability reasons.

23% cited corporate changes, including downsizing or closure.

Source: Employee Benefit Research Institute, 2003 Retirement Confidence Survey

Retirement Confidence Survey

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Based on the historically low inflation rate of approximately 3.2% in 2006* . . .

. . . You will need $220 in 25 years to purchase goods valued at $100 today.

In 25 Years

Today $21,995**

Subaru Outback Station Wagon Cost

$48,341In 25 years

*Source: www.bls.gov/cpi**Source: http://www.subaru.com

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Funding Your Lifetime Adventure

The graph is for illustrative purposes only and not indicative of any investment. Past performance is no guarantee of future results. An investment cannot be made directly into an index. © 2007 Morningstar, Inc. All rights reserved. Used with permission.

Hypothetical value of $1 invested January 1, 1926. Assumes reinvestment of income and no transaction costs or taxes. Large Company Stocks: Standard & Poor’s 500®, which is an unmanaged group of securities and considered to be representative of the stock market in general; Small Company Stocks: a portfolio of stocks represented by the fifth capitalization quintile of stocks on the NYSE for 1926–1981. For 1982 to March 2001, the series is represented by the Dimensional Fund Advisors (DFA) Small Company 9/10 Fund and the DFA Micro Cap Fund thereafter; Government Bonds: 20-year U.S. Government Bond; Treasury Bills: 30-day U.S.Treasury Bill; Inflation: Consumer Price Index. The investment return and principal of stocks will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Government bonds and Treasury bills are guaranteed as to the timely payment of principal and interest.

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The next slide shows asset class representations. Indices used in this representation include: Investment Grade Bond = Lehman Aggregate Bond Index: Covers the U.S. investment grade, fixed-rate, taxable bond market, including government and credit securities, agency mortgage pass-through securities, asset-backed securities, and commercial mortgage-based securities.International Stocks = MSCI EAFE Index: An unmanaged index deemed by Morgan Stanley Capital International (“MSCI”) to be representative of the market structure of the developed equity markets in Europe, Australasia and the Far East. Large Cap Growth = Russell 1000 Growth Index: An unmanaged index of large cap common stocks that measures the performance of companies with high price-to-book ratios and high forecasted growth values. Large Cap Value = Russell 1000 Value Index: An unmanaged index of large cap common stocks that measures the performance of companies with low price-to-book ratios and low forecasted growth values. Small Cap Growth = Russell 2000 Growth Index: An unmanaged index of small cap common stocks that measures the performance of companies with high price-to book ratios and high forecasted growth values. Small Cap Value = Russell 2000 Value Index: An unmanaged index of small cap common stocks that measures the performance of companies with low price-to-book ratios and low forecasted growth values. Index; Mid Cap = Russell MidCap Index: An unmanaged index that measures the performance of the 800 smallest companies in the Russell 1000 Index, and is considered representative of the mid-cap segment of the U.S equity universe.

An investment cannot be made directly into a market index.

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Funding Your Lifetime AdventureHistoric Rates of Return (1997–2006)

Highest Return

Lowest ReturnNote: Diversification does not eliminate the risk of

experiencing investment losses. Past performance is no guarantee of future results.

Source: Lipper Data.

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Challenges of Wealth Management

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*LIMRA International Fast Facts, September 2007 — “American Families at Risk/”** Based on replacing ten years of income

$560,950**

Average Life Insurance Owned

Average Life Insurance Needed

$147,800*

Most people in the U.S. are underinsured

Planning with Life Insurance The Problem of Underinsurance

Insured Husbands Insured Wives

$301,630**

$235,600*

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Why Have Life Insurance?

To Protect Beneficiaries from Your Premature Death

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What “Tools” Do You Need?

Investment Protection Strategies

Investment Products

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Who Else Might Be Participating in Your Retirement?

Spouse

Partner

Parents

Children

Grandchildren

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Challenges of Wealth Management

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The projected number of people 85

and over in 2030

Source: U.S. Census Bureau, 2004, U.S. Interim Projections by Age, Sex, Race and Hispanic Origin

Over 9.6 MillionU.S. Census Bureau

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How Long Do You Expect Your Retirement Adventure to Last?

Source: Society of Actuaries 2000 US Annuity Table

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Will Your Funds Last as Long as Your Retirement Adventure?

41%31%13%0%0%

54%47%30%6%0%

69%57%29%3%

82%83%82%72%30%

92%94%96%97%83%

66%

Withdrawal rate 4%

8%

7%

6%

5%

100% bonds

75% bonds/25% stocks

50% bonds/50% stocks

25% bonds/75% stocks 100%

stocks

Probability of meeting income needs over a 25-year retirement period

The data assumes reinvestment of income and does not account for taxes or transaction costs. Government bonds are guaranteed by the full faith and credit of the United States government as to the timely payment of principal and interest, while returns and principal invested in stocks are not guaranteed. ©2007 Morningstar, Inc. 3/1/2007

Source: Stocks — Standard & Poor’s 500®, which is an unmanaged group of securities and considered to be representative of the stock market in general; Bonds — 5-year U.S. Government Bond; Inflation — Consumer Price Index; Mutual Fund expenses from Morningstar

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How Far Will Your Retirement Dollars Take You?

Consider Long-Term Care Insurance — The premium may be less than the future cost of a nursing home or other continuing care.

Set a Goal — How much will you need to maintain your lifestyle?

Learn about Tax-Wise Income Strategies — Education can help you make the best choices for your circumstances and make the most of your retirement resources.

Develop an Income Allocation Strategy — This can help assure that you will not outlive your assets.

Keep Accumulating — Allocate a portion of your assets to growth-oriented investments.

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Challenges of Wealth Management

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The potential amount of your estate that may go to taxes and not your heirs.

45%*

*Top federal estate tax rate for years 2007–2009.

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Do You Intend to Leave Behind a Legacy?

A comprehensive estate plan enables you to:

Decide who receives a share of your assets

Provide for the orderly continuance or sale of a family business

Select a guardian for your young children

Decide who will manage your estate

Decide how and when your beneficiaries receive their inheritance

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Durable Power of Attorney

Durable Medical Power of Attorney

Health Care Proxy

Living Will

This is a general overview. Seek advice from your legal advisor regarding your particular situation.

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Summary

We have to grow money

We need to preserve it for ourselves and heirs

We need to live on it in retirement

We want to leave a legacy and protect our heirs

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Please be advised that this presentation is not intended as legal or tax advice.

Accordingly, any tax information provided in this presentation is not intended or written to

be used, and cannot be used, by any taxpayer for the purposes of avoiding penalties that

may be imposed on the taxpayer. The tax information was written to support the promotion

or marketing of the transaction(s) or matter(s) addressed, and you should seek advice

based on your particular circumstances from an independent tax advisor.

AXA Equitable and AXA Advisors do not provide tax and legal advice.

© 2007 AXA Equitable Life insurance Company and AXA Advisors, LLC. All rights

reserved.

1290 Avenue of the Americas, New York, NY 10104, (212) 554-1234

Cat. #134776 (12/07)