The document discusses the four main challenges of wealth management: growing money over the long term, preserving wealth for retirement and heirs, living off savings during retirement, and leaving a legacy through estate planning. It outlines strategies for meeting retirement income needs, evaluating how much life insurance and long term care coverage is needed, and developing a comprehensive estate plan. The goal is helping people address these challenges and make the most of their financial resources over a lifetime.

1. The Adventure of a Lifetime GE-41859 (12/07) 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.

2. Four Challenges of Wealth Management

3. Challenges of Wealth Management

4. “ 20 Minutes”

5. “ Look to the future, because that is where you’ll spend the rest of your life.” — George Burns, Comedian, 1896 – 1996

6. — Percentage of workers reporting that they plan on working for pay in retirement Source: Employee Benefit Research Institute, 2007 Retirement Confidence Survey Retirement Confidence Survey 66%

7. Living Comfortably in Retirement Percentage of workers who are very confident about having enough money to live comfortably in retirement. Retirement Confidence Survey Source: Employee Benefit Research Institute, 2007 Retirement Confidence Survey 27%

8. Do You Know How Much You Will Need? Percentage of respondents who attempted to determine how much they would need to save for retirement. Source: Employee Benefit Research Institute, 2007 Retirement Confidence Survey Retirement Confidence Survey 43%

10. 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 *Source: www.bls.gov/cpi **Source: http://www.subaru.com $48,341 In 25 years

11. 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.

12. 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.

13. Funding Your Lifetime Adventure Historic Rates of Return (1997–2006) Highest Return Lowest Return Note: Diversification does not eliminate the risk of experiencing investment losses. Past performance is no guarantee of future results. Source: Lipper Data.

14. Challenges of Wealth Management

15. *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*

16. Why Have Life Insurance? To Protect Beneficiaries from Your Premature Death

19. Challenges of Wealth Management

20. 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 Million U.S. Census Bureau

21. How Long Do You Expect Your Retirement Adventure to Last? Source: Society of Actuaries 2000 US Annuity Table

22. 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

24. Challenges of Wealth Management

25. The potential amount of your estate that may go to taxes and not your heirs. *Top federal estate tax rate for years 2007–2009. 45%*

28. 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

29. 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)