424B3 1 e11093.txt DEFINITIVE MATERIALS 424(b)(3) 333-155348 SUPPLEMENT DATED JANUARY 15, 2009 TO PROSPECTUSES DATED MAY 1, 2008 FOR MONY VARIABLE ANNUITY MONY CUSTOM MASTER THE MONYMASTER ISSUED BY: MONY LIFE INSURANCE COMPANY MONY LIFE INSURANCE COMPANY OF AMERICA -------------------------------------------------------------------------------- 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 "Prospectuses"). You should read this Supplement in conjunction with the Prospectuses and retain it for future reference. Unless otherwise indicated, all other information included in the Prospectus remains unchanged. The terms and section headings we use in this Supplement have the same meaning as in the Prospectuses. 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 provide you with information regarding certain changes to the Portfolios available under your contract. Please note that not all of the Portfolios discussed in this Supplement may be available in your contract. 1. CHANGES TO PORTFOLIOS OF AXA PREMIER VIP TRUST AND EQ ADVISORS TRUST ("TRUSTS") A. PORTFOLIO NAME CHANGES Effective on or about January 15, 2009, the following Portfolio name change listed below will occur. Accordingly, all references to the corresponding investment option in the Prospectus are also changed. ------------------------------------------------------------- Existing Portfolio Name New Portfolio Name ------------------------------------------------------------- EQ/JPMorgan Core Bond EQ/Core Bond Index ------------------------------------------------------------- B. PORTFOLIO SUB-ADVISER CHANGES Effective on or about January 15, 2009, SSgA Funds Management, Inc. will replace JPMorgan Investment Management, Inc. as the Sub-Adviser to the EQ/Core Bond Index Portfolio. Also, SSgA Funds Management, Inc. will be added as a Sub-Adviser to the Portfolios of the AXA Premier VIP Trust listed in the table below. AXA Equitable Life Insurance Company will continue to be the Investment Manager of the Portfolios. See "The Portfolios" or "The Funds" in your Prospectus for more information. ------------------------------------- AXA Premier VIP Trust ------------------------------------- MULTIMANAGER HIGH YIELD ------------------------------------- MULTIMANAGER SMALL CAP GROWTH ------------------------------------- C. AMENDMENTS TO EXPENSE LIMITATION ARRANGEMENTS FOR CERTAIN PORTFOLIOS The Board of Trustees of the AXA Premier VIP Trust (the "Trust") recently approved revisions to the Expense Limitation Agreement (the "Agreement") between the Trust and AXA Equitable Life Insurance Company ("AXA Equitable"). The Agreement has been amended to reflect that AXA Equitable has agreed to modify the expense limitation arrangement to include the fees and expenses of the other investment companies in which the AXA Allocation Portfolios invest ("Acquired Fund Fees and Expenses") when calculating its obligations under the Agreement to make payments and to waive its management, administrative and other fees so that the AXA Allocation Portfolios' expenses do not exceed the Portfolios' expense limits. As a result of these changes, the current "Net Total Annual Expenses" and "Acquired Fund Fees and Expenses" will be reduced effective on or about January 1, 2009. 2. PORTFOLIO OPERATING EXPENSES As the result of the portfolio changes described in Section 1 of this Supplement, the portfolio operating expenses for all of the portfolios have been reduced. Please see the prospectuses of the Trusts for more information on the changes to these expenses. The "Lowest" and "Highest" portfolio operating expenses range shown in your Prospectus remains unchanged. MNY 3-09 (1/09) Catalog No. 142071 (1/09) IF(AR) Series x02549 Co-distributed by affiliates AXA Advisors, LLC and AXA Distributors, LLC 1290 Avenue of the Americas New York, NY 10104 Copyright 2009 MONY Life Insurance Company and MONY Life Insurance Company of America. All rights reserved. MONY Life Insurance Company of America 1290 Avenue of the Americas New York, NY 10104 212-554-1234 2