497
1
d566230d497.txt
MONY AMERICA VARIABLE ACCOUNT L
MONY Life Insurance Company of America
SUPPLEMENT DATED JULY 22, 2013 TO THE CURRENT PROSPECTUS FOR
INCENTIVE LIFE LEGACY(R) II
--------------------------------------------------------------------------------
FOR USE IN CONNECTICUT ONLY
This Supplement updates certain information in the most recent prospectus and
statement of additional information you received and in any supplements to that
prospectus and statement of additional information (collectively, the
''Prospectus''). You should read this Supplement in conjunction with the
Prospectus and retain it for future reference. Unless otherwise indicated, all
other information included in the Prospectus remains unchanged and the
Prospectus is hereby incorporated by reference. The terms and section headings
we use in this Supplement have the same meaning as in the Prospectus. We will
send you another copy of any prospectus or supplement without charge upon
request. Please contact the customer service group referenced in the Prospectus.
The purpose of this Supplement is to describe the Long-Term Care Services/SM/
Rider that is available in Connecticut on or about July 22, 2013.
The Long-Term Care Services/SM/ Rider is described in your current prospectus
under "More information about policy features and benefits." "Appendix II:
Policy Variations" describes policy variations that differ from what is
described in the prospectus but may have been in effect at the time your policy
was issued. "Appendix III: State contract availability and/or variations of
certain features and benefits" describes certain variations from the standard
Long-Term Care Services/SM/ Rider that are specific to the form of the rider
sold in Connecticut.
I. UPDATE TO APPENDIX II: POLICY VARIATIONS
This Supplement updates "Appendix II: Policy Variations" by adding the
following new entry to the list of policy variations:
-----------------------------------------------------------------------------
APPROXIMATE TIME PERIOD FEATURE VARIATION
-----------------------------------------------------------------------------
February 15, Long Term Care This form of the rider
2013-July 21, 2013 Services/SM/ Rider is no longer available
(Rider Form No. for purchase.
R12-10CT) (Connecticut
only)
-----------------------------------------------------------------------------
II.UPDATE TO APPENDIX III: STATE POLICY AVAILABILITY AND/OR VARIATIONS OF
CERTAIN FEATURES AND BENEFITS
This Supplement deletes in its entirety the prior version of the Connecticut
section of "Appendix III: State policy availability and/or variations of
certain features and benefits" and replaces it with the following:
--------------------------------------------------------------------------------
STATE FEATURES AND BENEFITS AVAILABILITY OR VARIATION
--------------------------------------------------------------------------------
CONNECTICUT See "Long Term Care Services/SM/ The Long Term Care Services/SM/
Rider" under "Other benefits you Rider is available for issue
can add by rider" in "More ages 20-70. Different monthly
information about policy charge amounts and rules will
features and benefits" apply.
The long-term care specified
amount for this rider is as
follows:
We will pay up to the long-term
care specified amount for
qualified long-term care
services for the insured person
for the duration of a period of
coverage. The initial long-term
care specified amount is equal
to the face amount of the base
policy at issue. This amount may
change due to subsequent policy
transactions and will be reduced
at the end of a period of
coverage to reflect benefits
paid during that period of
coverage. Any request for a
decrease in the policy face
amount will reduce the current
long-term care specified amount
to an amount equal to the lesser
of: (a) the new policy face
amount; or (b) the long-term
care specified amount
immediately prior to the face
amount decrease. Any partial
withdrawal will reduce the
current long-term care specified
amount by the amount of the
withdrawal, but not to less than
the policy account value minus
the withdrawal. The maximum
monthly benefit in either case
will then be equal to the new
long-term care specified amount
multiplied by the benefit
percentage.
--------------------------------------------------------------------------------
EVM 13 (7/13) 151146 (7/13)
MLOA IL Legacy II #566230
--------------------------------------------------------------------------------
STATE FEATURES AND BENEFITS AVAILABILITY OR VARIATION
--------------------------------------------------------------------------------
CONNECTICUT
(CONTINUED) The maximum monthly benefit is
equal to the long-term care
specified amount multiplied by
the benefit percentage you have
selected. This amount may change
due to subsequent policy
transactions.
The maximum monthly payment
limitation for this rider is as
follows:
Each month, the monthly benefit
payment (a portion of which will
be applied to repay any
outstanding policy loan) for
qualified long term care
services for the insured person
is the lesser of:
1. the maximum monthly benefit
(or lesser amount as requested,
however, this may not be less
than $500); or
2. the monthly equivalent of
200% of the per day limit
allowed by the Health Insurance
Portability and Accountability
Act or "HIPAA" (We reserve the
right to increase this
percentage.) To find out the
current per day limit allowed by
HIPAA, go to www.irs.gov. We may
also include this information in
your policy's annual report.
For purposes of determining the
maximum monthly benefit, the
benefit percentage options are
1% or 2% for issue ages 20-70
and 3% for issue ages 20-55.
Benefits are payable once we
receive: 1) a written
certification from a U.S.
licensed health care
practitioner that the insured
person is a chronically ill
individual who is receiving
qualified long-term care
services in accordance with a
plan of care and will require
continuous care for the rest of
his or her life; 2) proof that
the "elimination period," as
discussed below, has been
satisfied; and 3) written notice
of claim and proof of loss in a
form satisfactory to us. In
order to continue monthly
benefit payments, we require
recertification by a U.S.
licensed health care
practitioner every twelve months
from the date of the initial or
subsequent certification that
the insured is still a
chronically ill individual
receiving qualified long-term
care services in accordance with
a plan of care and will require
continuous care for the
remainder of his or her life.
Otherwise, unless earlier
terminated due to a change in
the status of the insured,
benefit payments will terminate
at the end of the twelve month
period. This rider may not cover
all of the costs associated with
long-term care services during
the insured person's period of
coverage.
The following information
replaces the "Elimination
Period" subsection in this
section.
. Elimination period. The
Long-Term Care Services/SM/
Rider has an elimination
period that is the required
period of time while the
rider is in force that must
elapse before any benefit is
available to the insured
person under this rider. The
elimination period is 90
days, beginning on the first
day of any qualified long
term care services that are
provided to the insured
person. Generally, benefits
under this rider will not be
paid until the elimination
period is satisfied;
however, benefits will be
retroactively paid for the
elimination period. The 90
days do not have to be
continuous, but
--------------------------------------------------------------------------------
2
----------------------------------------------------------------------------------
STATE FEATURES AND BENEFITS AVAILABILITY OR VARIATION
----------------------------------------------------------------------------------
CONNECTICUT the elimination period must
(CONTINUED) be satisfied within a
consecutive period of 24
months starting with the
month in which such services
are first provided. If the
elimination period is not
satisfied within this time
period, you must submit a new
claim for benefits under this
rider. This means that a new
elimination period of 90 days
must be satisfied within a
new 24 month period. The
elimination period must be
satisfied only once while
this rider is in effect.
The Nonforfeiture benefit is not
available.
The Maximum total benefit is not
applicable.
The Acceleration percentage
concept is not applicable.
Death benefit option changes are
not permitted.
See "Tax treatment of living The tax information for the
benefits rider or Long Term Care Long-Term Care Services/SM/
Services/TM/ Rider under a Rider below replaces, in its
policy with the applicable entirety, the tax information in
rider" in "Tax Information" this section:
Benefits received under the Long
Term Care Services/SM/ Rider are
intended to be treated, for
Federal income tax purposes, as
accelerated death benefits under
section 101(g) of the Code on
the life of a chronically ill
insured person receiving
qualified long-term care
services within the meaning of
section 7702B of the Code. The
benefits are intended to qualify
for exclusion from income
subject to the limitations of
the Code with respect to a
particular insured person.
Receipt of these benefits may be
taxable. Generally income
exclusion for all payments from
all sources with respect to an
insured person will be limited
to the higher of the Health
Insurance Portability and
Accountability Act ("HIPAA") per
day limit or actual costs
incurred by the taxpayer on
behalf of the insured person.
Charges for the Long Term Care
Services/SM/ Rider may be
considered distributions for
income tax purposes, and may be
taxable to the owner to the
extent not considered a
nontaxable return of premiums
paid for the life insurance
policy. See above for tax
treatment of distributions to
you. Charges for the Long Term
Care Services/SM/ Rider are
generally not considered
deductible for income tax
purposes. The Long Term Care
Services/SM/ Rider is not
intended to be a qualified
long-term care insurance
contract under section 7702B(b)
of the Code.
Any adjustments made to your
policy death benefit, face
amount and other values as a
result of Long Term Care
Services/SM/ Rider benefits paid
will also generally cause us to
make adjustments with respect to
your policy under federal income
tax rules for testing premiums
paid, your tax basis in your
policy, your overall premium
limits and the seven-pay period
and seven-pay limit for testing
modified endowment contract
status.
----------------------------------------------------------------------------------
Copyright 2013 MONY Life Insurance Company of America.
All rights reserved. Incentive Life Legacy is
a registered trademarks of AXA Equitable Life Insurance Company.
AXA EQUITABLE LIFE INSURANCE COMPANY
1290 AVENUE OF THE AMERICAS
NEW YORK, NY 10104
212-554-1234