Structured Capital Strategies - AXA Equitable

1 * Average return A simple average of a series of returns generated over a given period of time. Returns are price return only and exclude Structured Capital Strategies is a variable and index-linked deferred contract annuity. 2 % of Times Returns Occurred Above 0%, -10%, -20%, or -30% This row shows the percentage of times a rolling monthly index return of the S&P 500 occurred above either 0%, -10%, -20%, or -30%.Past performance is no guarantee of future results. Individuals cannot invest directly in an index. This data does not represent the performance of any specific investment. Please see the reverse side for additional important information. AXA Equitable Life Insurance Company (NY, NY)Variable Annuities: Are Not a Deposit of Any Bank Are Not FDIC Insured Are Not Insured by Any Federal Government Agency Are Not Guaranteed by Any Bank or Savings Association May Go Down in ValueStructured Capital Strategies history may be a guide Russell 2000 Index1 Historical Capital Strategies ; a variable and index-linked deferred annuity contract, was designed for investors looking to partially protect their assets as well as invest for growth potential up to a cap.

2 Within the Standard Segments of the Structured Investment Option, you can choose to invest in up to nine indices that track the performance of both equity and commodity markets. At the same time you can protect against a portion of loss by choosing a protection level of -10%, -20%, or -30%. For instance, if you select a -10% protection level and the given index declines by -8% during the time period, then you would push , meaning your investment would be completely protected. If the index were to decline by 12%, your investment would incur only a loss of 2%.To give you perspective on how the Russell 2000 Index has performed historically, the following analysis observes returns of 5-Year periods on a rolling monthly basis ( , Jan Jan, Feb Feb, etc.). The chart below shows the percentage of times investment returns fell above -10%, -20%, and -30%, which are the protection levels offered within a 5-Year Performance of Russell 2000 (focused on performance between 0% and -10%)Historical Index Returns January 1980 2013 Russell 2000 5-YearAverage return * Gains and Losses348 Number of Gains312 Number of Losses36% of Times Returns Occurred > 0% of Times Returns Occurred > -10% of Times Returns Occurred > -20% of Times Returns Occurred > -30% (between 0% and -20%)Losses (more than -20%)GainsPushes (between 0% and -10%)Losses (more than -10%)2%(6 Times)8%(30 Times)90%(312 Times)5%(18 Times)5%(18 Times)90%(312 Times)This document must be preceded or accompanied by a Structured Capital Strategies prospectus.

3 In Structured Capital Strategies you invest to accumulate value on a tax-deferred basis in one or more variable investment options and/or the Structured Investment Option (SIO). The SIO permits the contract owner to participate in the performance of securities and commodities indices for a set period (1 year, 3 years, 5 years). Through the partial protection feature, AXA Equitable will absorb up to the first -10%, -20%, or -30% of loss, depending on the investment selected. Please keep in mind that there is risk of substantial loss of principal because the investor agrees to absorb all losses that exceed the protection provided by the SIO at you would like a guarantee of principal, AXA Equitable offers other products that provide such guarantees. An annuity such as Structured Capital Strategies is a long term financial product designed for retirement purposes. There are fees and charges associated with annuities that cover administrative expenses, sales expenses and certain expense risks, investment management and there could be a contractual withdrawal charge.

4 Withdrawals are subject to ordinary income tax treatment and may also be subject to an additional 10% federal tax if taken before 59 . Variable annuities are subject to market risk including loss of principal. The Structured Investment Option does not involve an investment in any underlying portfolio. Instead, it is an obligation of AXA Equitable Life Insurance Company, which has sole legal responsibility to pay amounts it owes under the contract. A contract owner should look to the financial strength of AXA Equitable for its claims-paying ability. Annuities contain certain limitations and restrictions. For costs and complete details, contact a financial professional. The contractual withdrawal charge declines from 5% over a five-year period for the Structured Capital Strategies Series B. This material is not a complete description of all material provisions of the Structured Capital Strategies variable annuity contract.

5 AXA Equitable may at any time exercise its rights to discontinue, suspend or change acceptance of contributions/transfers, as well as change minimum and maximum contribution requirements and limitations. Please see the prospectus and supplemental materials for details. Certain features and benefits described herein may not be available in all jurisdictions. In addition, some distributors may eliminate and/or limit the availability of certain features or options, based on annuitant issue age or other Russell 2000 Price return Index tracks the performance of small-cap companies. Stocks of small and mid-size companies have less liquidity than those of larger companies and are subject to greater price volatility than the overall stock market. Smaller company stocks involve a greater risk than is customarily associated with more established companies. The Index is a trademark of Russell Investments and has been licensed for use by AXA Equitable .

6 The Product is not sponsored, endorsed, sold or promoted by Russell Investments and Russell Investments makes no representation regarding the advisability of investing in the contract guarantees and any fixed subaccount crediting rates or annuity payout rates, are backed by the claims-paying ability of AXA Equitable . They are not backed by the broker/dealer from which this annuity is purchased, by the insurance agency from which this annuity is purchased or any affiliates of those entities and none makes any representations or guarantees regarding the claims-paying ability of AXA Capital Strategies (August 2014 version) is a registered service mark of AXA Equitable Life Insurance Company, New York, NY 10104. Structured Capital Strategies is issued by AXA Equitable Life Insurance Company, New York, NY 10104. Co-distributed by affiliates AXA Advisors, LLC and AXA Distributors, LLC, (members FINRA, SIPC). Visit our website at You can contact us at (212) 554-1234 to find out the availability of other form #s: 2010 PCSBASE-I-A/B and 2010 PCSBASE-A/B and any state variations AXA is the brand name of AXA Equitable Financial Services, LLC and its family of companies, including AXA Equitable Life Insurance Company (NY, NY), AXA Advisors, LLC, and AXA Distributors, LLC.

7 AXA is a French holding company for a group of international insurance and financial services companies, including AXA Equitable Financial Services, LLC. The obligations of AXA Equitable Life Insurance Company are backed solely by their claims-paying ability. 2014 AXA Equitable Life Insurance Company. All rights reserved. Structured Capital Strategies is patent-approved. Patent no. 8,645,261. G33898 GE-97790b (10/14) (Exp. 10/16) Cat. #153649 (10/14)Some things to consider from January 1980 2013:Over 5-year periods there was: Less than a 5% chance of having a loss greater than -10% in the Russell 2000 . Less than a 2% chance of having a loss greater than -20% in the Russell 2000 . Only a chance of having a loss greater than -30% in the Russell 2000 . An average return of for the Russell 2000.

8 * Average return A simple average of a series of returns generated over a given period of time. Returns are price return only and exclude dividends. All periods mentioned above are rolling monthly periods of 5 years. A rolling monthly period is defined as month start to month end over 5 years. (Jan. 1, 1980 Jan. 31, 1985 is one 5-year rolling monthly period.) Past performance is not a guarantee of future results. For illustrative purposes only. This data does not represent the performance of any specific investment. Individuals cannot invest directly in an Performance of Russell 2000 (focused on performance between 0% and -20%)Historical Index Returns January 1980 2013 Russell 2000 5-YearAverage return * Gains and Losses348 Number of Gains312 Number of Losses36% of Times Returns Occurred > 0% of Times Returns Occurred > -10% of Times Returns Occurred > -20% of Times Returns Occurred > -30% (between 0% and -20%)Losses (more than -20%)GainsPushes (between 0% and -10%)Losses (more than -10%)2%(6 Times)8%(30 Times)90%(312 Times)5%(18 Times)5%(18 Times)90%(312 Times)