Four AXA Financial, Inc., insurance companies are relaxing the premium-payment grace period for policyholders who are affected by Hurricane Irma in all Florida, U.S. Virgin Islands, and Puerto Rico ZIP codes. The four companies are:
1. AXA Equitable Life Insurance Company (formerly known as The Equitable Life Assurance Society of the U.S.).
2. AXA Equitable Life and Annuity Company (formerly The Equitable of Colorado, Inc.).
3. MONY Life Insurance Company of America (MLOA).
4. U.S. Financial Life Insurance Company.
The companies have announced that, regarding the cancellation/non-renewal of policies for non-payment of premiums for life, health, and disability insurance, for grace periods expiring from September 6, 2017, to November 13, 2017, they will extend the grace period until November 14, 2017, in the impacted areas. Clients with an employer-sponsored annuity residing in an impacted area who have outstanding loan payments due between September 6, 2017, and November 13, 2017, will not default as a “deemed distribution” until November 14, 2017. The grace period commences on the date the policyholder’s damage occurred. This moratorium is not automatic. Interested policyholders must request this extension from their insurance carrier.