POS AM 1 d304713dposam.txt MONY LIFE INSURANCE COMPANY OF AMERICA REGISTRATION NO. 333-177419 ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ----------------- FORM S-l POST-EFFECTIVE AMENDMENT NO. 2 TO REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ----------------- MONY LIFE INSURANCE COMPANY OF AMERICA (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) ----------------- ARIZONA (STATE OR OTHER JURISDICTION OF INCORPORATION OR ORGANIZATION) 6311 (PRIMARY STANDARD INDUSTRIAL CLASSIFICATION CODE NUMBER) 86-0222062 (I. R. S. EMPLOYER IDENTIFICATION NUMBER) 1290 AVENUE OF THE AMERICAS NEW YORK, NEW YORK 10104 (212) 554-1234 (ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER, INCLUDING AREA CODE, OF REGISTRAT'S PRINCIPAL EXECUTIVE OFFICES) ----------------- DODIE KENT VICE PRESIDENT AND ASSOCIATE GENERAL COUNSEL AXA EQUITABLE LIFE INSURANCE COMPANY 1290 AVENUE OF THE AMERICAS NEW YORK, NEW YORK 10104 (212) 554-1234 (NAME, ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER, INCLUDING AREA CODE, OF AGENT FOR SERVICE) ----------------- PLEASE SEND COPIES OF ALL COMMUNICATIONS TO: CHRISTOPHER E. PALMER, ESQ. GOODWIN PROCTER LLP 901 NEW YORK AVENUE, N.W. WASHINGTON, D.C. 20001 ----------------- If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box: [X] If this Form is filed to register additional securities for an offering pursuant to Rule 462 (b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. [_] If this Form is a post-effective amendment filed pursuant to Rule 462 (d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. [_] If this Form is a post-effective amendment filed pursuant to Rule 462 (d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. [_] ----------------- Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. Large accelerated filer [_] Accelerated filer [_] Non-accelerated filer [X] (Do not check if a smaller reporting company) Smaller reporting company [_]
================================================================================ Individual Flexible Payment Variable Annuity Contract Issued by MONY Life Insurance Company of America with variable investment options under MONY America's MONY America Variable Account A. PROSPECTUS DATED MAY 1, 2012 Please read and keep this prospectus for future reference. It contains important information that you should know before purchasing, or taking any other action under your Contract. Also, you should read the prospectuses for each Trust, which contain important information about their portfolios. -------------------------------------------------------------------------------- MONY Life Insurance Company of America (the "Company") issues the flexible payment variable annuity contract described in this prospectus. This prospectus is a disclosure document and describes all of the Contract's material features, benefits, rights and obligations, as well as other information. The description of the Contract's material provisions in this prospectus is current as of the date of this prospectus. If certain material provisions under the Contract are changed after the date of this prospectus in accordance with the Contract, those changes will be described in a supplement to this prospectus. You should carefully read this prospectus in conjunction with any applicable supplements. This Contract is no longer being sold. This prospectus is used with current contract owners only. We will continue to accept Purchase Payments under existing Contracts. You should note that your Contract features and charges, and your investment options, may vary depending on your state and/or the date on which you purchased your Contract. For more information about the particular features, charges and options applicable to you, please contact your financial professional and/or refer to your Contract. You can tell us what to do with your Purchase Payments. You can also tell us what to do with the fund value your Contract may create for you resulting from those Purchase Payments. You may allocate some or all of your Purchase Payments into the subaccounts. Each subaccount is a subaccount of separate account MONY America Variable Account A. Both the value of your Contract before the date annuity payments begin and the amount of income afterward will depend on the investment performance of the portfolios you select. You bear the investment risk of investing in the portfolios. The subaccounts invest in shares of the following portfolios of AIM Variable Insurance Funds, AXA Premier VIP Trust, EQ Advisors Trust, Franklin Templeton Variable Insurance Products Trust, Janus Aspen Series, MFS(R) Variable Insurance Trust/SM/, Oppenheimer Variable Account Funds, PIMCO Variable Insurance Trust and ProFunds VP (the "Funds"). -------------------------------------------------------------------------------- SUBACCOUNTS -------------------------------------------------------------------------------- All Asset Growth-Alt 20/(2)/ EQ/Mid Cap Value PLUS AXA Aggressive Allocation/(1)/ EQ/Money Market AXA Conservative Allocation/(1)/ EQ/Montag & Caldwell Growth AXA Conservative-Plus Allocation/(1)/ EQ/Morgan Stanley Mid Cap Growth AXA Moderate Allocation/(1)/ EQ/PIMCO Ultra Short Bond AXA Moderate-Plus Allocation/(1)/ EQ/Small Company Index EQ/AllianceBernstein Small Cap Growth EQ/UBS Growth and Income EQ/BlackRock Basic Value Equity Franklin Income Securities EQ/Boston Advisors Equity Income Franklin Rising Dividends Securities EQ/Calvert Socially Responsible Invesco V.I. Global Core Equity/(4)/ EQ/Capital Guardian Research Invesco V.I. Diversified Dividend/(4)/ EQ/Core Bond Index Invesco V.I. Global Health Care EQ/GAMCO Mergers and Acquisitions Invesco V.I. Technology EQ/GAMCO Small Company Value Janus Aspen Forty EQ/Global Multi-Sector Equity Janus Aspen Overseas EQ/Intermediate Government Bond/(3)/ MFS(R) Utilities Series EQ/Large Cap Value Index Multimanager Multi-Sector Bond EQ/Large Cap Value PLUS Multimanager Small Cap Growth EQ/Mid Cap Index Oppenheimer Global Securities Fund/VA --------------------------------------------------------------------------------
------------------------------------------------------------------------ SUBACCOUNTS ------------------------------------------------------------------------ PIMCO VIT Global Bond (Unhedged) ProFund VP Rising Rates Opportunity ProFund VP Bear ProFund VP UltraBull ------------------------------------------------------------------------
NOT ALL OF THESE PORTFOLIOS MAY BE AVAILABLE IN ALL STATES OR ALL MARKETS. (1)The "AXA Allocation" portfolios. (2)This is the variable investment option's new name, effective on or about May 21, 2012, subject to regulatory approval. Please see "The Funds" later in this prospectus for the variable investment option's former name. (3)This is the variable investment option's new name, effective on or about May 1, 2012. Please see "Portfolios of the Trusts" under "Contract features and benefits" later in this Prospectus for the variable investment options's former name. (4)This is the variable investment option's new name, effective on or about April 30, 2012, subject to regulatory approval. Please see "The Funds" later in this prospectus for the variable investment option's former name. You may also allocate some or all of your Purchase Payments and fund values into our Guaranteed Interest Account with Market Value Adjustment, which is discussed later in this prospectus. Among the many terms of the Guaranteed Interest Account with Market Value Adjustment are: . Guaranteed interest to be credited for specific periods (referred to as "Accumulation Periods"). . Three (3), five (5), seven (7), and ten (10) year Accumulation Periods are available. The one (1) year Accumulation Period is limited to the following states: Maryland, the Commonwealth of Massachusetts, New Jersey, Oklahoma, Oregon, the Commonwealth of Pennsylvania, South Carolina, Texas and Washington. . Interest will be credited for the entire Accumulation Period on a daily basis. Different rates apply to each Accumulation Period and are determined by the Company from time to time at its sole discretion. . A market value adjustment may be charged if part or all of the Guaranteed Interest Account with Market Value Adjustment is surrendered or transferred before the end of the Accumulation Period. . Contract owners should carefully consider the information contained in this prospectus before allocating Purchase Payments or Fund Values to the Guaranteed Interest Account with Market Value Adjustment offered herein. -------------------------------------------------------------------------------- These are only some of the terms of the Guaranteed Interest Account with Market Value Adjustment. Please read this prospectus carefully for more complete details of the contract. -------------------------------------------------------------------------------- THE SEC HAS NOT APPROVED OR DISAPPROVED THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS IS ACCURATE OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. THE CONTRACTS ARE NOT INSURED BY THE FDIC OR ANY OTHER AGENCY. THEY ARE NOT DEPOSITS OR OTHER OBLIGATIONS OF ANY BANK AND ARE NOT BANK GUARANTEED. THEY ARE SUBJECT TO INVESTMENT RISKS AND POSSIBLE LOSS OF PRINCIPAL. #235475/MLA-VA A Statement of Additional Information dated May 1, 2012 containing additional information about the contract is incorporated herein by reference. It has been filed with the Securities and Exchange Commission and is available from the Company without charge upon written request. You may request one by writing to our processing office located at MONY Life Insurance Company of America, Policyholder Services, 100 Madison Street, Syracuse, New York 13202, by telephoning 1-800-487-6669 or by accessing the SEC's website at www.sec.gov. The Table of Contents of the Statement of Additional Information can be found on the last page of this prospectus. Contents of this Prospectus -------------------------------------------------------------------------------- ------------------------------------------------------------- 1. SUMMARY OF THE CONTRACT 5 ------------------------------------------------------------- Definitions 5 Purpose of the Contract 5 Purchase Payments and fund value 5 Minimum Purchase Payments 5 MONY America Variable Account A 5 Guaranteed Interest Account with Market Value Adjustment 6 The Accumulation Periods 6 Crediting of interest 6 The Market Value Adjustment 6 Benefit option packages 7 Transfer of fund value 9 Loans 9 Surrenders 9 Charges and deductions 9 Right to return contract provision 9 Death benefit 9 Fee tables 10 Example 11 Other contracts 12 Condensed financial information 12 ------------------------------------------------------------- 2.WHO IS MONY LIFE INSURANCE COMPANY OF AMERICA? 13 ------------------------------------------------------------- MONY Life Insurance Company of America 13 How to reach us 13 MONY America Variable Account A 13 ------------------------------------------------------------- 3. THE FUNDS 15 ------------------------------------------------------------- Purchase of portfolio shares by MONY America Variable Account A 20 ------------------------------------------------------------- 4. DETAILED INFORMATION ABOUT THE CONTRACT 21 ------------------------------------------------------------- Payment and allocation of Purchase Payments 21 Telephone/fax/web transactions 25 Disruptive transfer activity 25 Termination of the Contract 26
CONTENTS OF THIS PROSPECTUS 3 --------------------------------------------------------------- 5.DESCRIPTION OF THE GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT 27 --------------------------------------------------------------- General 27 Guaranteed Interest Account with Market Value Adjustment 27 Allocations to the Guaranteed Interest Account with Market Value Adjustment 27 Specified interest rates and the accumulation periods 28 Surrenders, transfers or loans 29 The Market Value Adjustment 29 Investments 30 --------------------------------------------------------------- 6. SURRENDERS 31 --------------------------------------------------------------- --------------------------------------------------------------- 7. LOANS 32 --------------------------------------------------------------- --------------------------------------------------------------- 8. DEATH BENEFIT 33 --------------------------------------------------------------- Death benefit provided by the Contract 33 Earnings increase death benefit 34 Election and effective date of election 35 Payment of death benefit proceeds 35 --------------------------------------------------------------- 9. CHARGES AND DEDUCTIONS 36 --------------------------------------------------------------- Deductions from Purchase Payments 37 Charges against Fund Value 37 Deductions from Fund Value 37 --------------------------------------------------------------- 10. ANNUITY PROVISIONS 40 --------------------------------------------------------------- Annuity payments 40 Guaranteed minimum annuity payments 40 Election and change of settlement option 40 Settlement options 41 Frequency of annuity payments 41 Additional provisions 41 --------------------------------------------------------------- 11. OTHER PROVISIONS 43 --------------------------------------------------------------- Ownership 43 Provision required by Section 72(s) of the Code 43 Provision required by Section 401(a)(9) of the Code 43 Secondary annuitant 44 Assignment 44 Change of beneficiary 44 Substitution of securities 44 Changes to Contracts 44 Change in operation of MONY America Variable Account A 44
--------------------------------------------------- 12. VOTING RIGHTS 46 --------------------------------------------------- --------------------------------------------------- 13. DISTRIBUTION OF THE CONTRACTS 47 --------------------------------------------------- --------------------------------------------------- 14. FEDERAL TAX STATUS 49 --------------------------------------------------- Introduction 49 Taxation of annuities in general 49 Retirement plans 50 Tax treatment of the Company 50 --------------------------------------------------- 15.ADDITIONAL INFORMATION AND INCORPORATION OF CERTAIN INFORMATION BY REFERENCE 51 --------------------------------------------------- --------------------------------------------------- 16. LEGAL PROCEEDINGS 52 --------------------------------------------------- --------------------------------------------------- 17. FINANCIAL STATEMENTS 53 --------------------------------------------------- About the general account 53
------------- APPENDICES -------------
I -- Benefit option packages, table of fees, examples and charges and deductions for contracts issued in the State of Washington I-1 II -- Condensed financial information II-1 ---------------------------------------------------------------- STATEMENT OF ADDITIONAL INFORMATION Table of contents ----------------------------------------------------------------
4 CONTENTS OF THIS PROSPECTUS 1. Summary of the Contract -------------------------------------------------------------------------------- This summary provides you with a brief overview of the more important aspects of your Contract, including the Guaranteed Interest Account with Market Value Adjustment. It is not intended to be complete. More detailed information is contained in this prospectus on the pages following this summary and in your Contract. This summary and the entire prospectus will describe the part of the Contract involving MONY America Variable Account A. The prospectus also briefly will describe the Guaranteed Interest Account with Market Value Adjustment and the portfolios offered by AIM Variable Insurance Funds, AXA Premier VIP Trust, EQ Advisors Trust, Franklin Templeton Variable Insurance Products Trust, Janus Aspen Series, MFS(R) Variable Insurance Trust/SM/, Oppenheimer Variable Account Funds, PIMCO Variable Insurance Trust and ProFunds VP. See applicable fund prospectuses for more detailed information about the portfolios offered by the Funds. DEFINITIONS -------------------------------------------------------------------------------- Specialized terms will be defined on the page where they first appear enclosed in a box. -------------------------------------------------------------------------------- PURPOSE OF THE CONTRACT The Contract is an Individual Flexible Payment Variable Annuity Contract (the "Contract" or "Contracts"). The Contract is no longer being sold. We will continue to accept Purchase Payments under existing Contracts. The Contract is designed to allow an owner to make Purchase Payments to the Company under the Contract. Those Purchase Payments are allocated at the owner's choice among the subaccounts of MONY America Variable Account A and the Guaranteed Interest Account with Market Value Adjustment. Those Purchase Payments can accumulate for a period of time and create fund value for the owner. The owner can choose the length of time that such Purchase Payments may accumulate. The owner may choose at some point in the future to receive annuity benefits based upon that accumulated fund value. An owner uses the Contract's design to accumulate fund value for various purposes including retirement or to supplement other retirement programs. Some of these retirement programs (the "Qualified Plans") may qualify for federal income tax advantages available under certain sections of the Internal Revenue Code (the "Code"). Sections 401,403 (other than Section 403(b)), 408, 408A and 457, for example. -------------------------------------------------------------------------------- QUALIFIED PLANS -- Retirement plans that may receive favorable tax treatment under certain Sections of the Code. QUALIFIED CONTRACTS -- Contracts issued under Qualified Plans. NON-QUALIFIED CONTRACTS -- Contracts not issued under Qualified Plans. -------------------------------------------------------------------------------- The Contract is also designed to allow the owner to request payments of part or all of the accumulated fund values before the owner begins to receive annuity benefits. This payment may result in the imposition of a surrender charge and a market value adjustment. The market value adjustment will not apply to Contracts issued in certain states. These payments also may be subject to a contract charge and/or income or other taxes. PURCHASE PAYMENTS AND FUND VALUE You may allocate your Purchase Payments to one or more of the sub-accounts of MONY America Variable Account A that are available under the Contract and/or to the Guaranteed Interest Account with Market Value Adjustment. The Purchase Payments you allocate among the various subaccounts of MONY America Variable Account A may increase or decrease in value on any day depending on the investment experience of the subaccounts you select. There is no guarantee that the value of the Purchase Payments you allocate to any of the subaccounts of MONY America Variable Account A will increase or that the Purchase Payments you make will not lose value. MINIMUM PURCHASE PAYMENTS The minimum Purchase Payment for individuals varies depending upon the purchaser of the Contract, the method of paying the Purchase Payments and the benefit option package selected. (See "Payment and allocation of Purchase Payments.") Additional Purchase Payments may be made at any time. MONY AMERICA VARIABLE ACCOUNT A MONY America Variable Account A is a separate investment account of MONY Life Insurance Company of America (the "Company"). MONY America Variable Account A's assets are owned by the Company, but are not chargeable with liabilities arising from any other business the Company conducts. The subaccounts of MONY America Variable Account A invest in shares of the Funds at their net asset value. (See "The Funds"). Owners bear the entire investment risk for all amounts allocated to MONY America Variable Account A subaccounts. -------------------------------------------------------------------------------- FUND -- Any open-end management investment company or unit investment trust in which a subaccount invests. OWNER -- The person so designated in the application to whom all rights, benefits, options and privileges apply while the Annuitant is living. If a Contract has been absolutely assigned, the assignee becomes the Owner. PURCHASE PAYMENT -- An amount paid to the Company by the Owner or on the Owner's behalf as consideration for the benefits provided by the Contract. NET PURCHASE PAYMENT -- Purchase Payment less any applicable tax charge. -------------------------------------------------------------------------------- SUMMARY OF THE CONTRACT 5 GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT The Guaranteed Interest Account with Market Value Adjustment is part of the Company's general account ("General Account"). It consists of all the Company's assets other than assets allocated to separate investment accounts of the Company. Net Purchase Payments allocated to the Guaranteed Interest Account with Market Value Adjustment will be credited with interest at rates guaranteed by the Company for specified periods. (See "Description of the Guaranteed Interest Account with Market Value Adjustment".) The Guaranteed Interest Account with Market Value Adjustment is designed to provide you with an opportunity to receive a guaranteed fixed rate of interest. You can choose the period of time over which the guaranteed fixed rate of interest will be paid. That period of time is known as the Accumulation Period. The Guaranteed Interest Account with Market Value Adjustment is also designed to provide you with the opportunity to transfer part or all of the Guaranteed Interest Account with Market Value Adjustment to the Subaccounts available to you under the Contract. It is also designed to provide you with the opportunity to surrender part or all of the Guaranteed Interest Account with Market Value Adjustment before the end of the Accumulation Period. If you ask us to transfer or surrender part or all of the Guaranteed Interest Account, we may apply a market value adjustment ("MVA"). This adjustment may be positive, negative, or zero. You may allocate all or part of your Purchase Payments to the Guaranteed Interest Account with Market Value Adjustment. THE ACCUMULATION PERIODS There are 4 different Accumulation Periods currently available: a 3-year Accumulation Period, a 5-year Accumulation Period, a 7-year Accumulation Period, and a 10-year Accumulation Period. Certain states limit contracts to a 1-year Accumulation Period. You may allocate initial or additional Purchase Payments made under the Contract to one or more Accumulation Periods. You may also ask us to transfer Fund Values from the Subaccounts available under the Contract to one or more of the Accumulation Periods subject to any applicable MVA. There is no minimum amount required for allocation or transfer to an Accumulation Period. (See "Allocations to the Guaranteed Interest Account with Market Value Adjustment.") Each Accumulation Period starts on the Business Day that falls on, or next follows, the date on which allocations are made and Purchase Payments are received or Fund Values are transferred. Each Accumulation Period ends on the Monthly Contract Anniversary immediately prior to the 3, 5, 7 or 10-year anniversary of the start of the Accumulation Period (the "Maturity Date"). This means that the Accumulation Period for a 3, 5, 7 or 10-year Accumulation Period may be up to 31 days shorter than 3, 5, 7 or 10 years, respectively. (See "Specified interest rates and the accumulation periods.") CREDITING OF INTEREST The Company will credit amounts allocated to an Accumulation Period with interest at an annual rate not less than 3.50%. This interest rate is referred to as the Specified Interest Rate. It will be credited for the duration of the Accumulation Period. Specified Interest Rates for each Accumulation Period are declared periodically at the sole discretion of the Company. (See "Specified interest rates and the accumulation periods.") At least 15 days and at most 45 days prior to the Maturity Date of an Accumulation Period, Owners having Fund Values allocated to such Accumulation Periods will be notified of the impending Maturity Date. Owners will then have the option of directing the surrender or transfer (including transfers for the purpose of obtaining a Loan) of the Fund Value within 30 days before the end of the Accumulation Period without application of any MVA. The Specified Interest Rate will be credited to amounts allocated to an Accumulation Period, so long as such allocations are neither surrendered nor transferred prior to the Maturity Date for the Allocation Period. The Specified Interest Rate is credited daily, providing an annual effective yield. (See "Specified interest rates and the accumulation periods.") THE MARKET VALUE ADJUSTMENT Amounts that are surrendered or transferred (including transfers for the purpose of obtaining a Loan) from an Accumulation Period more than 30 days before the Maturity Date will be subject to an MVA. An MVA will not apply upon payment of a death benefit upon the death of the annuitant. The MVA is determined through the use of a factor, which is known as the MVA Factor. This factor is discussed in detail in the section entitled "The Market Value Adjustment." The MVA could cause an increase or decrease or no change at all in the amount of the distribution from an Accumulation Period. A MARKET VALUE ADJUSTMENT WILL NOT BE IMPOSED ON CONTRACTS ISSUED IN MARYLAND, THE COMMONWEALTH OF MASSACHUSETTS, NEW JERSEY, OKLAHOMA, OREGON, THE COMMONWEALTH OF PENNSYLVANIA, SOUTH CAROLINA, TEXAS AND WASHINGTON; HOWEVER, RESTRICTIONS ON TRANSFERS APPLY IN THESE STATES. The adjustment can be either a positive or negative adjustment. No adjustment is made for the amount withdrawn or transferred within 30 days before the end of the accumulation period. -------------------------------------------------------------------------------- FUND VALUE -- The aggregate dollar value as of any Business Day of all amounts accumulated under each of the subaccounts, the Guaranteed Interest Account, and the loan account of the Contract. If the term Fund Value is preceded or followed by the terms subaccount(s), the Guaranteed Interest Account, and the loan account, or any one or more of those terms, Fund Value means only the Fund Value of the subaccount, the Guaranteed Interest Account or the loan account, as the context requires. BUSINESS DAY -- Our "business day" is generally any day the New York Stock Exchange is open for regular trading and generally ends at 4:00 p.m. Eastern Time (or as of an earlier close of regular trading). A business day does not include a day on which we are not open due to emergency conditions determined by the Securities and Exchange Commission. We may also close early due to such emergency conditions. MONTHLY CONTRACT ANNIVERSARY -- The date of each month corresponding to the Effective Date of the Contract. For example, for a Contract with a June 15 Effective Date, the Monthly Contract Anniversary is the 15th of each month. If a Contract's Effective Date falls on the 29th, 30th or 31st day of a month, the Monthly Contract Anniversary will be the earlier of that day or the last day of the particular month in question. -------------------------------------------------------------------------------- 6 SUMMARY OF THE CONTRACT BENEFIT OPTION PACKAGES There are two benefit option packages under Contracts issued in the state of Washington -- see Appendix I for a table summarizing the benefit option packages. Each benefit option package is distinct. You select a benefit option package at the time of application. Once a selection is made, you may not transfer from one benefit option package to another. -------------------------------------------------------------------------------------------------------------------------------- OPTION 1 OPTION 2 OPTION 3/(3)/ -------------------------------------------------------------------------------------------------------------------------------- MORTALITY AND Current annual rate -- 1.20% Current annual rate -- 1.70% Current annual rate -- 2.35% EXPENSE RISK CHARGE Maximum annual rate -- 1.40% Maximum annual rate -- 1.95% Maximum annual rate -- 2.80% -------------------------------------------------------------------------------------------------------------------------------- DEATH BENEFIT ON THE GREATER OF: THE GREATEST OF: THE GREATEST OF: DEATH OF ANNUITANT (1)The Fund Value less any out- (1)The Fund Value less any out- (1)The Fund Value less any out- standing debt on the date standing debt on the date standing debt on the date due proof of the Annuitant's due proof of the Annuitant's due proof of the Annuitant's death is received by the death is received by the death is received by the Company. Company. Company. or or or (2)The Purchase Payments paid, (2)The Purchase Payments paid, (2)The Purchase Payments paid, reduced proportionately by reduced proportionately by reduced proportionately by each partial surrender each partial surrender each partial surrender (reflecting any market value (reflecting any market value (reflecting any market value adjustment and any surrender adjustment and any sur- adjustment and any sur- charge) and less any out- render charge) and less any render charge) and less any standing debt./(1)/ outstanding debt./(1)/ outstanding debt./(1)/ or or (3)Step Up Value (See "Death (3)Step Up Value (See "Death benefit"). Benefit"). or (4)Roll Up Value (See "Death benefit"). -------------------------------------------------------------------------------------------------------------------------------- EARNINGS INCREASE Not Available The amount of the Earnings In- The amount of the Earnings In- AMOUNT ADDED TO crease depends upon the age of crease depends upon the age of DEATH BENEFIT the Annuitant on the Contract's the Annuitant on the Contract's Effective Date. Effective Date. If the Annuitant was age 69 or If the Annuitant was age 69 or younger on the Contract's Effec- younger on the Contract's Effec- tive Date, the Earnings Increase tive Date, the Earnings Increase Amount is equal to 40% of the Amount is equal to 40% of the lesser of: lesser of: (1)Net Purchase Payments; (1)Net Purchase Payments; or or (2)Fund Value minus Purchase (2)Fund Value minus Purchase Payments./(2)/ Payments./(2)/ If the Annuitant was age 70 or If the Annuitant was age 70 or older on the Contract's Effective older on the Contract's Effective Date, the Earnings Increase Date, the Earnings Increase Amount is equal to 25% of the Amount is equal to 25% of the lesser of: lesser of: (1) Net Purchase Payments; (1)Net Purchase Payments; or or (2)Fund Value minus Purchase (2)Fund Value minus Purchase Payments./(2) / Payments./(2)/ --------------------------------------------------------------------------------------------------------------------------------
SUMMARY OF THE CONTRACT 7
--------------------------------------------------------------------------------------------------------------------------- OPTION 1 OPTION 2 OPTION 3/(3)/ --------------------------------------------------------------------------------------------------------------------------- GUARANTEED MINIMUM Not Available Not Available If certain conditions are met, ANNUITY PAYMENTS the Guaranteed Annuitization Value may be used to provide guaranteed minimum annuity payments that are greater than annuity payments that would be provided by the Contract's Fund Value or Cash Value, as applicable. --------------------------------------------------------------------------------------------------------------------------- MINIMUM INITIAL Qualified Contracts -- The Qualified Contracts -- The Qualified Contracts -- the PURCHASE PAYMENT minimum Purchase Payment for minimum Purchase Payment minimum Purchase Payment for Qualified Plans is the same for for Qualified Plans is the same Qualified Plans is the same for all three options. (See "Detailed for all three options. (See all three options. (See "Detailed information about the "Detailed information about information about the contract.") Non-Qualified Con- the contract.") Non-Qualified contract.") Non-Qualified Con- tracts -- $5,000 Contracts -- $10,000 tracts -- $10,000 --------------------------------------------------------------------------------------------------------------------------- ANNUITANT ISSUE AGE Qualified Contracts -- 0-85 Non- Qualified Contracts -- 0-79 Qualified Contracts -- 0-79 Qualified Contracts -- 0-85 Non-Qualified Contracts --0-79 Non-Qualified Contracts -- 0-79 --------------------------------------------------------------------------------------------------------------------------- ANNUAL CONTRACT Current charge is $30. The Current charge is $0. The Current charge is $0. The CHARGE annual contract charge may be annual contract charge may be annual contract charge may be increased to a maximum of $50 increased to a maximum of increased to a maximum of $50 ($30 in certain states) on 30 $50 ($30 in certain states) on ($30 in certain states) on 30 days written notice. 30 days written notice. days written notice. ---------------------------------------------------------------------------------------------------------------------------
(1)In the calculations of the death benefit, for each partial surrender, the proportionate reduction is equal to the amount of that partial surrender and any surrender charge and any market value adjustment divided by the Fund Value immediately before that partial surrender, multiplied by the Purchase Payments paid before that partial surrender. Depending on your state, for Contracts purchased prior to July 22, 2003, the death benefit is the greater of: (1) The Fund Value less any outstanding debt on the date due proof of the Annuitant's death is received by the Company, or (2) The Purchase Payments paid, less any partial surrenders and their surrender charges minus any outstanding debt, and plus or minus any Market Value Adjustment. (2)The payments and values described in (1) and (2) do not include Purchase Payments made during the 12-month period immediately prior to the date due proof of death is received by the Company and reflect any partial surrenders made including any applicable market value adjustment and surrender charge, and less any outstanding debt. (3)As of November 29, 2004, Option 3 is no longer available for new business. 8 SUMMARY OF THE CONTRACT TRANSFER OF FUND VALUE You may transfer fund value among the subaccounts and to or from the Guaranteed Interest Account with Market Value Adjustment. Transfers from the Guaranteed Interest Account with Market Value Adjustment may be subject to a market value adjustment for Contracts issued in certain states. Transfers may be made by telephone, facsimile or via the web if the proper form or the telephone/facsimile/web authorization on a Contract application has been completed, signed, and received by the Company at its Operations Center. Transfers by telephone, facsimile or via the web are subject to the Company's rules and conditions for such privilege. (See "Transfers.") LOANS If your Contract permits, you may borrow up to 50% of your Contract's Fund Value from the Company. Your Contract will be the only security required for the loan. Contracts issued to 401(k) plans are generally the only Contracts which permit loans. An amount equal to the amount of the loan is transferred to the loan account as security for the loan. The loan account is part of the Company's General Account. We will charge you interest on the amount borrowed. If you do not pay the interest when due, the amount due plus any accrued interest will be added to the outstanding debt. SURRENDERS You may surrender all or part of the Contract at any time and receive its Cash Value while the Annuitant is alive prior to the annuity starting date. We may impose a surrender charge and market value adjustment (if applicable). A partial surrender may reduce your death benefit proportionately by the same percentage that the surrender (including any surrender charge and any market value adjustment, if applicable) reduced Fund Value. The amounts you receive upon surrender may be subject to income taxes and a 10% penalty tax if you are younger than 59 1/2 at the time of surrender. (See "Federal tax status.") CHARGES AND DEDUCTIONS The Contract provides for the deduction of various charges and expenses from the fund value of the Contract. We pay compensation to brokers-dealers who sell the Contracts. (For a discussion of this compensation, see "Distribution of the contracts.") RIGHT TO RETURN CONTRACT PROVISION This information is no longer applicable, as these Contracts are no longer available to new purchasers. You have the right to examine the Contract when you receive it. You may return the Contract for any reason during the right to return contract period (usually within ten days from the day you receive it). You will receive the Purchase Payments received by the Company, less any partial surrenders you make. During the "right to return contract period," Purchase Payments will be retained in the Company's General Account and will earn interest at a rate not less than 3.50% per year. If you have not returned the Contract at the end of the right to return contract period, we transfer the Net Purchase Payments with interest to the subaccounts and/or the Guaranteed Interest Account. DEATH BENEFIT If the Annuitant (and the Secondary Annuitant, if any) dies before the annuity starting date, the Company will pay a death benefit to the Beneficiary. The death benefit will depend upon the benefit option package in effect on the date the Annuitant dies. If the Annuitant dies after annuity payments start, no death benefit is payable except as may be payable under the settlement option selected. (See "Death benefit.") -------------------------------------------------------------------------------- ANNUITANT -- The person upon whose continuation of life any annuity payment depends. SECONDARY ANNUITANT -- The party designated by the Owner to become the Annuitant, subject to certain conditions, on the death of the Annuitant. BENEFICIARY -- The party entitled to receive benefits payable at the death of the Annuitant or (if applicable) the Secondary Annuitant. ANNUITY STARTING DATE -- Attainment of age 95, or at the discretion of the Owner of the Contract, an earlier date that is at least ten years from the Effective Date of the Contract. -------------------------------------------------------------------------------- SUMMARY OF THE CONTRACT 9 Fee tables The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering the contract. The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender the Contract, or transfer fund value between investment options or, for Contracts funding 401(k) plans only, take a loan. A charge for taxes may also be deducted. For the table of fees applicable to Contracts issued in the State of Washington, see Appendix I. --------------------------------------------------------------------- OWNER TRANSACTION EXPENSES: --------------------------------------------------------------------- Maximum deferred sales load (surrender charge) 7.00%/(1)/ (as a percentage of Fund Value surrendered) --------------------------------------------------------------------- Loan interest spread (effective annual rate) 2.50%/(2)/ --------------------------------------------------------------------- Maximum transfer charge $25/(3)/ --------------------------------------------------------------------- The next table describes the fees and expense that you will pay periodically during the time that you own the Contract, not including Fund portfolio company fees and expenses. --------------------------------------------------------------------- Maximum annual contract charge $50/(4)/ --------------------------------------------------------------------- SEPARATE ACCOUNT ANNUAL EXPENSES (AS A PERCENTAGE OF AVERAGE ANNUAL FUND VALUE IN MONY AMERICA VARIABLE ACCOUNT A): --------------------------------------------------------------------- OPTION 1 --------------------------------------------------------------------- Maximum mortality and expense risk fees 1.40%/(5)/ --------------------------------------------------------------------- Total separate account annual expenses 1.40%/(5)/ --------------------------------------------------------------------- OPTION 2 --------------------------------------------------------------------- Maximum mortality and expense risk fees 1.95%/(6)/ --------------------------------------------------------------------- Total separate account annual expenses 1.95%/(6)/ --------------------------------------------------------------------- OPTION 3/(7)/ --------------------------------------------------------------------- Maximum mortality and expense risk fees 2.80%/(8)/ --------------------------------------------------------------------- Total separate account annual expenses 2.80%/(8)/ ---------------------------------------------------------------------
(1)The surrender charge percentage, which reduces to zero, is determined by the Contract Year in which the surrender occurs. The surrender charge may be reduced under certain circumstances which include reduction in order to guarantee that certain amounts may be received free of the surrender charge. (See "Charges against fund value -- Free partial surrender amount.") (2)The loan interest spread is the difference between the amount of interest we charge on loans and the amount of interest we credit to amounts held in the loan account to secure loans. (3)The transfer charge currently is $0. However, the Company has reserved the right to impose a charge for each transfer which will not exceed $25 (except for contracts issued in the states of South Carolina and Texas, where it will not exceed $10). (See "Deductions from fund value -- Transfer charge.") (4)The annual contract charge for Option 1 is currently $30. The annual contract charge for Option 2 and Option 3 is currently $0. However, the Company may in the future change the amount of the charge to an amount not exceeding $50 per Contract Year (except for Contracts issued in Maryland, Massachusetts, New Jersey, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas and Washington where the charge may not exceed $30). (See "Deductions from fund value -- Annual contract charge.") (5)The mortality and expense risk charge is deducted daily equivalent to a current annual rate of 1.20% (and is guaranteed not to exceed a daily rate equivalent to an annual rate of 1.40%) from the value of the net assets of MONY America Variable Account A. (6)The mortality and expense risk charge is deducted daily equivalent to a current annual rate of 1.70% (and is guaranteed not to exceed a daily rate equivalent to an annual rate of 1.95%) from the value of the net assets of MONY America Variable Account A. (7)As of November 29, 2004, Option 3 is no longer available for new business. (8)The mortality and expense risk charge is deducted daily equivalent to a current annual rate of 2.35% (and is guaranteed not to exceed a daily rate equivalent to an annual rate of 2.80%) from the value of the net assets of MONY America Variable Account A. The next item shows the minimum and maximum total operating expenses charged by the portfolio companies for the year ended December 31, 2011. You may pay portfolio company operating expenses periodically during the time that you own the Contract. Certain variable investment options invest in a corresponding portfolio of one of the Trusts or other unaffiliated investment companies. Each portfolio, in turn, invests in shares of other portfolios of the Trusts and/or shares of unaffiliated portfolios ("underlying portfolios"). More detail concerning each Fund portfolio company's fees and expenses is contained in the prospectus for each portfolio. 10 SUMMARY OF THE CONTRACT --------------------------------------------------------------------------------------------------- TOTAL ANNUAL FUND OPERATING EXPENSES: --------------------------------------------------------------------------------------------------- Total Annual Portfolio Operating Expenses for 2011 (expenses that are deducted from Lowest Highest portfolio assets including management fees, 12b-1 fees, service fees, and/or other expenses)/(1)/ 0.62% 1.71% ---------------------------------------------------------------------------------------------------
(1)"Total Annual Portfolio Operating Expenses" are based, in part, on estimated amounts for options added during the fiscal year 2011, if applicable, and for the underlying portfolios. In addition, the "Minimum" represents the total annual operating expenses of the EQ/Small Company Index Portfolio. The "Maximum" represents the total annual operating expenses of the ProFund VP Bear Portfolio. EXAMPLE This example is intended to help you compare the cost of investing in the contract with the cost of investing in other variable annuity contracts. These costs include Owner transaction expenses, contract fees, separate account annual expense, and Fund fees and expenses for the year ended December 31, 2011. The example assumes that you invest $10,000 in the Contract for the time periods indicated. The example also assumes that your investment has a 5% return each year. The example assumes the maximum contract charges and annual expenses of any of the Fund portfolios (before expense limitations) set forth in the previous charts. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: 1. a.If you surrender your Contract at the end of the applicable time period (assuming maximum fees and expenses of any of the Fund portfolios):
----------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------- Option 1 $1,002 $1,669 $2,352 $3,871 Option 2 $1,053 $1,818 $2,594 $4,339 Option 3 $1,131 $2,043 $2,954 $5,007 -----------------------------------------
b.If you surrender your Contract at the end of the applicable time period (assuming minimum fees and expenses of any of the Fund portfolios):
----------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------- Option 1 $901 $1,367 $1,850 $2,856 Option 2 $952 $1,521 $2,107 $3,383 Option 3 $1,031 $1,754 $2,489 $4,138 -----------------------------------------
2. a.If you do not surrender your Contract (assuming maximum fees and expenses of any of the Fund portfolios):
----------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------- Option 1 $364 $1,106 $1,869 $3,871 Option 2 $418 $1,264 $2,124 $4,339 Option 3 $501 $1,503 $2,504 $5,007 -----------------------------------------
b.If you do not surrender your Contract (assuming minimum fees and expenses of any of the Fund portfolios):
----------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------- Option 1 $255 $785 $1,340 $2,856 Option 2 $310 $948 $1,611 $3,383 Option 3 $394 $1,195 $2,014 $4,138 -----------------------------------------
3. a.If you annuitize your Contract and the proceeds are settled under Settlement Options 3 or 3A (life income with annuity options) (assuming maximum fees and expenses of any of the Fund portfolios):
----------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------- Option 1 $1,002 $1,106 $1,869 $3,871 Option 2 $1,053 $1,264 $2,124 $4,339 Option 3 $1,131 $1,503 $2,504 $5,007 -----------------------------------------
SUMMARY OF THE CONTRACT 11 b.If you annuitize your Contract and the proceeds are settled under Settlement Options 3 or 3A (life income with annuity options) (assuming minimum fees and expenses of any of the Fund portfolios):
----------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------- Option 1 $901 $785 $1,340 $2,856 Option 2 $952 $948 $1,611 $3,383 Option 3 $1,031 $1,195 $2,014 $4,138 -----------------------------------------
4. a.If you annuitize your Contract and the proceeds are settled under Settlement Options 1, 2 or 4 (annuity income without life contingencies) (assuming maximum fees and expenses of any of the Fund portfolios):
----------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------- Option 1 $1,002 $1,669 $2,352 $3,871 Option 2 $1,053 $1,818 $2,594 $4,339 Option 3 $1,131 $2,043 $2,954 $5,007 -----------------------------------------
b.If you annuitize your Contract and the proceeds are settled under Settlement Options 1, 2 or 4 (annuity income without life contingencies) (assuming minimum fees and expenses of any of the Fund portfolios):
----------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------- Option 1 $901 $1,367 $1,850 $2,856 Option 2 $952 $1,521 $2,107 $3,383 Option 3 $1,031 $1,754 $2,489 $4,138 -----------------------------------------
For the purposes of the Fee Tables and the Example, we assume that the Contract is owned during the accumulation period. (See "Charges and Deductions.") On and after the annuity starting date, different fees and charges will apply. OTHER CONTRACTS We offer a variety of fixed and variable annuity contracts. They may offer features, including investment options, fees and/or charges that are different from those in the Contracts offered by this prospectus. Not every Contract is offered through the same distributor. Upon request, your registered representative can show you information regarding other annuity Contracts that he or she distributes. You can also contact us to find out more about any MONY Life Insurance Company of America annuity Contracts. CONDENSED FINANCIAL INFORMATION Please see Appendix II at the end of this prospectus for the unit values and the number of units outstanding as of the end of the period shown for each of the variable investment options available as of December 31, 2011. 12 SUMMARY OF THE CONTRACT 2. Who is MONY Life Insurance Company of America? -------------------------------------------------------------------------------- MONY LIFE INSURANCE COMPANY OF AMERICA We are MONY Life Insurance Company of America (the "Company"), an Arizona stock life insurance corporation organized in 1969. The Company is an indirect, wholly-owned subsidiary of AXA Financial, Inc. (the "parent"), a holding company, which is itself an indirect, wholly-owned subsidiary of AXA SA ("AXA"). AXA is a French holding company for an international group of insurance and related financial services companies. As the ultimate sole shareholder of the Company, and under its other arrangements with the Company and parent, AXA exercises significant influence over the operations and capital structure of the Company and its parent. AXA holds its interest in the Company through a number of other intermediate holding companies, including Oudinot Participations, AXA America Holdings, Inc., AXA Equitable Financial Services, LLC, and MONY Life Insurance Company, a life insurance company. The Company is obligated to pay all amounts that are promised to be paid under the contracts. No company other than the Company, however, has any legal responsibility to pay amounts that the Company owes under the contracts. AXA Financial, Inc. and its consolidated subsidiaries managed approximately $508.0 billion in assets as of December 31, 2011. The Company is licensed to sell life insurance and annuities in forty-nine states (not including New York), the District of Columbia, the U.S. Virgin Islands and Puerto Rico. Our home office is located at 1290 Avenue of the Americas, New York, NY 10104. HOW TO REACH US To obtain (1) any forms you need for communicating with us, (2) unit values and other values under your policy, and (3) any other information or materials that we provide in connection with your Contract or the Portfolios, you may communicate with our processing office as listed below for the purposes described. Please refer to "Telephone/Fax/Web Transactions" for effective dates for processing telephone, Internet, and facsimile requests, later in this prospectus. Certain methods of contacting us, such as by telephone or electronically may be unavailable or delayed (for example our fax service may not be available at all times and/or we may be unavailable due to emergency closing). In addition, the level and type of service available may be restricted based on criteria established by us. In order to avoid delays in processing, please send your correspondence and check to the appropriate location, as follows: -------------------------------------------------------------------------------- FOR CORRESPONDENCE WITH CHECKS: FOR SUBSEQUENT CONTRIBUTIONS SENT BY REGULAR MAIL: MONY Life Insurance Company of America P.O. Box 5064 New York, NY 10087-5064 FOR SUBSEQUENT CONTRIBUTIONS SENT BY EXPRESS DELIVERY: JPMorgan Chase - Lockbox Processing Lockbox - MONY Life Insurance Company of America - LBX 5064 4 Chase Metrotech Center 7th Floor East Brooklyn, NY 11245 -------------------------------------------------------------------------------- FOR CORRESPONDENCE WITH CHECKS: FOR ALL OTHER COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY MAIL: MONY Life Insurance Company of America Policyholder Services 100 Madison Street Syracuse, New York 13202 Your correspondence will be picked up at the mailing address noted above and delivered to our processing office. Your correspondence, however, is not considered received by us until it is received at our processing office. Where this prospectus refers to the day when we receive a contribution, request, election, notice, transfer or any other transaction request from you, we mean the day on which that item (or the last thing necessary for us to process that item) arrives in complete and proper form at our processing office or via the appropriate telephone or fax number if the item is a type we accept by those means. There are two main exceptions: if the item arrives (1) on a day that is not a business day or (2) after the close of a business day, then, in each case, we are deemed to have received that item on the next business day. Our processing office is: 100 Madison Street, Syracuse, New York 13202. -------------------------------------------------------------------------------- BY TOLL-FREE PHONE: Customer service representatives are available weekdays from 9:00 a.m. to 5:00 p.m. Eastern Time at 1-800-487-6669. -------------------------------------------------------------------------------- BY INTERNET: Clients may access Online Account Access by visiting our Website at www.axa-equitable.com. Our Website provides access to account information and customer service. After enrolling and setting up a password, you can view account details, perform certain transactions, print customer service forms and find answers to Frequently Asked Questions (FAQs). You can also change your allocation percentages, transfer among investment options, make a payment, and/or change your address (1) by toll-free phone, (2) over the Internet, through Online Account Access, or (3) by writing our Operations Center. For more information about the transaction requests you can make by phone, fax or internet, see "Telephone/fax/web transactions" later in this prospectus. MONY AMERICA VARIABLE ACCOUNT A MONY America Variable Account A is a separate investment account of the Company. Presently, only Purchase Payments for individual WHO IS MONY LIFE INSURANCE COMPANY OF AMERICA? 13 flexible payment variable annuity contracts are permitted to be allocated to MONY America Variable Account A. The assets in MONY America Variable Account A are kept separate from the General Account assets and other separate accounts of the Company. The Company owns the assets in MONY America Variable Account A. The Company is required to keep assets in MONY America Variable Account A that equal the total market value of the contract liabilities funded by MONY America Variable Account A. Realized or unrealized income gains or losses of MONY America Variable Account A are credited or charged against MONY America Variable Account A assets without regard to the other income, gains or losses of the Company. Reserves and other liabilities under the contracts are assets of MONY America Variable Account A. MONY America Variable Account A assets are not chargeable with liabilities of the Company's other businesses. The assets of MONY America Variable Account A are, however, available to cover the liabilities of our General Account to the extent that the assets of MONY America Variable Account A exceed the liabilities of the contracts supported by it. The amount of some of our obligations under the Contracts is based on the assets in MONY America Variable Account A. However, the obligations themselves are obligations of the Company. MONY America Variable Account A was authorized by the Board of Directors of the Company and established under Arizona law on March 27, 1987. MONY America Variable Account A is registered under the Investment Company Act of 1940 ("the 1940 Act") and is registered and classified under that act as a "unit investment trust". The SEC, however, does not manage or supervise the Company or MONY America Variable Account A. Although MONY America Variable Account A is registered, the Securities and Exchange Commission (the "SEC") does not monitor the activity of MONY America Variable Account A on a daily basis. The Company is not required to register, and is not registered, as an investment company under the 1940 Act. A unit investment trust is a type of investment company. For state law purposes, MONY America Variable Account A is treated as a part or division of the Company. MONY America Variable Account A is divided into subdivisions called subaccounts. Each subaccount invests only in shares of a designated portfolio of the Funds. For example, the EQ/Core Bond Index Subaccount invests solely in shares of the EQ Advisors Trust EQ/Core Bond Index Portfolio. These portfolios serve only as the underlying investment for variable annuity and variable life insurance contracts issued through separate accounts of the Company or other life insurance companies. The portfolios may also be available to certain pension accounts. The portfolios are not available directly to individual investors. Income and realized and unrealized gains or losses from assets of each subaccount are credited to or charged against that subaccount without regard to income, gains or losses in the other subaccounts, our General Account, or any other separate accounts. We reserve the right to credit or charge a subaccount in a different manner if required, or appropriate, by reason of a change in the law. In the future, we reserve the right, in compliance with the laws that apply, to establish additional subaccounts; eliminate subaccounts; combine two or more subaccounts; transfer the assets we determine to be the shares of the class of contracts to which the contracts belong from any subaccount to another subaccount; restrict or eliminate any voting rights as to the MONY America Variable Account A; and cause one or more subaccounts to invest some or all of their assets in one or more other trusts or investment companies of MONY America Variable Account A if marketing needs, tax conditions or investment conditions warrant. Future subaccounts may invest in other portfolios of the Funds or in other securities, as permitted by applicable law. Any new subaccounts may be made available to existing contracts on a basis to be determined by us. If any of these changes are made, we may, by appropriate endorsement, change the Contract to reflect the change. 14 WHO IS MONY LIFE INSURANCE COMPANY OF AMERICA? 3. The Funds -------------------------------------------------------------------------------- Each available subaccount of MONY America Variable Account A will invest only in the shares of the Funds. We offer both affiliated and unaffiliated Funds, which in turn offer one or more portfolios. There is a separate subaccount which corresponds to each portfolio of a Fund offered under the Contract. AXA Equitable Funds Management Group, LLC, a wholly owned subsidiary of AXA Equitable, serves as the investment manager of the portfolios of AXA Premier VIP Trust and EQ Advisors Trust. For some portfolios, AXA Equitable Funds Management Group, LLC has entered into sub-advisory agreements with investment advisers (the "sub-advisers") to carry out the day-to-day investment decisions for the portfolios. As such, AXA Equitable Funds Management Group, LLC oversees the activities of the sub-advisers with respect to the Trusts and is responsible for retaining or discontinuing the services of those sub-advisers. The chart below indicates the sub-adviser(s) for each portfolio, if any. The chart below also shows the currently available portfolios and their investment objectives. You should be aware that AXA Advisors, LLC and AXA Distributors, LLC (together, the "Distributors") directly or indirectly receive 12b-1 fees from affiliated portfolios for providing certain distribution and/or shareholder support services. These fees will not exceed 0.25% of the portfolios' average daily net assets. The affiliated portfolios' sub-advisers and/or their affiliates may also contribute to the cost of expenses for sales meetings or seminar sponsorships that may relate to the policies and/or the sub-advisers' respective portfolios. It may be more profitable for us to offer affiliated portfolios than to offer unaffiliated portfolios. The Funds are registered with the SEC under the 1940 Act. The Funds, or any of them, may withdraw from sale any or all the respective portfolios as allowed by applicable law. Not all Funds may be available in all states or in all markets. AXA Equitable or the Distributors may directly or indirectly receive 12b-1 fees and additional payments from certain unaffiliated portfolios, their advisers, sub-advisers, distributors or affiliates, for providing certain administrative, marketing, distribution and/or shareholder support services. These fees and payments range from 0% to 0.60% of the unaffiliated portfolios' average daily net assets. The Distributors may also receive payments from the advisers or sub-advisers of the unaffiliated portfolios or their affiliates for certain distribution services, including expenses for sales meetings or seminar sponsorships that may relate to the contracts and/or the advisers' respective portfolios. As a contract owner, you may bear the costs of some or all of these fees and payments through your indirect investment in the portfolios. (See the portfolios' prospectuses for more information.) These fees and payments will reduce the underlying portfolios' investment returns. AXA Equitable may profit from these fees and payments. AXA Equitable considers the availability of these fees and payment arrangements during the selection process for the underlying portfolios. These fees and payment arrangements may create an incentive for us to select portfolios (and classes of shares of portfolios) that pay us higher amounts. You should note that some portfolios have objectives and strategies that are substantially similar to those of certain funds that are purchased directly rather than under a variable insurance product such as the Contract. These portfolios may even have the same manager(s) and/or a similar name. However, there are numerous factors that can contribute to differences in performance between two investments, particularly over short periods of time. Such factors include fees; the timing of stock purchases and sales; differences in fund cash flows; and specific strategies employed by the portfolio manager. The AXA Allocation Portfolios offer contract owners a convenient opportunity to invest in other portfolios that are managed and have been selected for inclusion in the AXA Allocation Portfolios by AXA Equitable Funds Management Group, LLC, the investment manager of the AXA Premier VIP Trust and EQ Advisors Trust. AXA Advisors, LLC, an affiliated broker-dealer of the Company, may promote the benefits of such portfolios to contract owners and/or suggest, incidental to the sale of this Contract, that contract owners consider whether allocating some or all of their account value to such portfolios is consistent with their desired investment objectives. In doing so, AXA Equitable, and/or its affiliates, may be subject to conflicts of interest insofar as AXA Equitable may derive greater revenues from the AXA Allocation Portfolios than certain other portfolios available to you under your Contract. Please see "Payment and allocation of Purchase Payment" in "Detailed information about the Contract" for more information about your role in managing your allocations. As described in more detail in the underlying Fund prospectuses, the AXA Allocation Portfolios and certain other affiliated Portfolios, use futures and options to reduce the Portfolio's equity exposure during periods when certain market indicators indicate that market volatility is high. This strategy is designed to reduce the risk of market losses from investing in equity securities. However, this strategy may result in periods of underperformance, including those when the specified benchmark index is appreciating, but market volatility is high. As a result, your Fund Value may rise less than it would have without these defensive actions. If you have an enhanced death benefit, this strategy may also indirectly suppress the value of your enhanced death benefit. The investment strategies of the Portfolios are designed to reduce the overall volatility of your Fund Value. The reduction in volatility permits us to more effectively and efficiently provide the benefits under the contract. This approach, while reducing volatility, may also suppress the investment performance of your contract and the value of your enhanced death benefit. THE FUNDS 15
--------------------------------------------------------------------------------------------------------------------------- AXA PREMIER VIP INVESTMENT MANAGER (OR SUB-ADVISER(S), TRUST PORTFOLIO NAME SHARE CLASS OBJECTIVE AS APPLICABLE) --------------------------------------------------------------------------------------------------------------------------- AXA AGGRESSIVE Class B Seeks long-term capital appreciation. AXA Equitable Funds Management ALLOCATION/(1)/ Group, LLC --------------------------------------------------------------------------------------------------------------------------- AXA CONSERVATIVE Class B Seeks a high level of current income. AXA Equitable Funds Management ALLOCATION/(1)/ Group, LLC --------------------------------------------------------------------------------------------------------------------------- AXA CONSERVATIVE-PLUS Class B Seeks current income and growth of AXA Equitable Funds Management ALLOCATION/(1)/ capital, with a greater emphasis on cur- Group, LLC rent income. --------------------------------------------------------------------------------------------------------------------------- AXA MODERATE Class B Seeks long-term capital appreciation and AXA Equitable Funds Management ALLOCATION/(1)/ current income. Group, LLC --------------------------------------------------------------------------------------------------------------------------- AXA MODERATE-PLUS Class B Seeks long-term capital appreciation and AXA Equitable Funds Management ALLOCATION/(1)/ current income, with a greater emphasis Group, LLC on capital appreciation. --------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER Class A Seeks high total return through a combina- Pacific Investment Management MULTI-SECTOR BOND tion of current income and capital Company LLC appreciation. Post Advisory Group, LLC SSgA Funds Management, Inc. --------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP Class B Seeks to achieve long-term growth of capi- AXA Equitable Funds Management GROWTH tal with an emphasis on risk-adjusted re- Group, LLC turns and managing volatility in the BlackRock Investment Portfolio. Management, LLC Lord Abbett & Co. LLC Morgan Stanley Investment Management, LLC NorthPointe Capital, LLC --------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS INVESTMENT MANAGER (OR SUB-ADVISER(S), TRUST PORTFOLIO NAME SHARE CLASS OBJECTIVE AS APPLICABLE) --------------------------------------------------------------------------------------------------------------------------- ALL ASSET GROWTH-ALT Class IB Seeks long-term capital appreciation and AXA Equitable Funds Management 20/(2)/ current income. Group, LLC --------------------------------------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN Class IA Seeks to achieve long-term growth of AllianceBernstein L.P. SMALL CAP GROWTH capital. --------------------------------------------------------------------------------------------------------------------------- EQ/BLACKROCK BASIC VALUE Class IB Seeks to achieve capital appreciation and BlackRock Investment EQUITY secondarily, income. Management, LLC --------------------------------------------------------------------------------------------------------------------------- EQ/BOSTON ADVISORS Class IB Seeks a combination of growth and in- Boston Advisors, LLC EQUITY INCOME come to achieve an above-average and consistent total return. --------------------------------------------------------------------------------------------------------------------------- EQ/CALVERT SOCIALLY Class IB Seeks to achieve long-term capital Calvert Investment Management, RESPONSIBLE appreciation. Inc. --------------------------------------------------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN Class IA Seeks to achieve long-term growth of Capital Guardian Trust Company RESEARCH capital. --------------------------------------------------------------------------------------------------------------------------- EQ/CORE BOND INDEX Class IA Seeks to achieve a total return before AXA Equitable Funds Management expenses that approximates the total re- Group, LLC turn performance of the Barclays SSgA Funds Management, Inc. Intermediate U.S. Government/Credit In- dex, including reinvestment of dividends, at a risk level consistent with that of the Barclays Intermediate U.S. Government/ Credit Index. --------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO MERGERS AND Class IB Seeks to achieve capital appreciation. GAMCO Asset Management, Inc. ACQUISITIONS --------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO SMALL COMPANY Class IB Seeks to maximize capital appreciation. GAMCO Asset Management, Inc. VALUE ---------------------------------------------------------------------------------------------------------------------------
16 THE FUNDS
-------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS INVESTMENT MANAGER (OR SUB-ADVISER(S), TRUST PORTFOLIO NAME SHARE CLASS OBJECTIVE AS APPLICABLE) -------------------------------------------------------------------------------------------------------------------------- EQ/GLOBAL MULTI-SECTOR Class IA Seeks to achieve long-term capital AXA Equitable Funds Management EQUITY appreciation with an emphasis on risk- Group, LLC adjusted returns and managing volatility BlackRock Investment in the Portfolio. Management, LLC Morgan Stanley Investment Management Inc. -------------------------------------------------------------------------------------------------------------------------- EQ/INTERMEDIATE Class IA Seeks to achieve a total return before AXA Equitable Funds Management GOVERNMENT BOND/(5)/ expenses that approximates the total Group, LLC return performance of the Barclays SSgA Funds Management, Inc. Intermediate U.S. Government Bond Index, including reinvestment of dividends, at a risk level consistent with that of the Barclays Intermediate U.S. Government Bond Index. -------------------------------------------------------------------------------------------------------------------------- EQ/LARGE CAP VALUE INDEX Class IA Seeks to achieve a total return before SSgA Funds Management, Inc. expenses that approximates the total return performance of the Russell 1000 Value Index, including reinvestment of dividends, at a risk level consistent with that of the Russell 1000 Value Index. -------------------------------------------------------------------------------------------------------------------------- EQ/LARGE CAP VALUE PLUS Class IA Seeks to achieve long-term growth of AllianceBernstein L.P. capital with an emphasis on risk-adjusted AXA Equitable Funds Management returns and managing volatility in the Group, LLC Portfolio. -------------------------------------------------------------------------------------------------------------------------- EQ/MID CAP INDEX Class IA Seeks to achieve a total return before SSgA Funds Management, Inc. expenses that approximates the total return performance of the S&P Mid Cap 400 Index, including reinvestment of dividends, at a risk level consistent with that of the S&P Mid Cap 400 Index. -------------------------------------------------------------------------------------------------------------------------- EQ/MID CAP VALUE PLUS Class IA Seeks to achieve long-term capital AXA Equitable Funds Management appreciation with an emphasis on risk- Group, LLC adjusted returns and managing volatility BlackRock Investment in the Portfolio. Management, LLC Wellington Management Company, LLP -------------------------------------------------------------------------------------------------------------------------- EQ/MONEY MARKET Class IA Seeks to obtain a high level of current The Dreyfus Corporation income, preserve its assets and maintain liquidity. -------------------------------------------------------------------------------------------------------------------------- EQ/MONTAG & CALDWELL Class IB Seeks to achieve capital appreciation. Montag & Caldwell, LLC GROWTH -------------------------------------------------------------------------------------------------------------------------- EQ/MORGAN STANLEY MID Class IA Seeks to achieve capital growth. Morgan Stanley Investment CAP GROWTH Management Inc. -------------------------------------------------------------------------------------------------------------------------- EQ/PIMCO ULTRA SHORT BOND Class IB Seeks to generate a return in excess of Pacific Investment Management traditional money market products while Company, LLC maintaining an emphasis on preservation of capital and liquidity. -------------------------------------------------------------------------------------------------------------------------- EQ/SMALL COMPANY INDEX Class IA Seeks to replicate as closely as possible AllianceBernstein L.P. (before the deduction of Portfolio expenses) the total return of the Russell 2000 Index. -------------------------------------------------------------------------------------------------------------------------- EQ/UBS GROWTH AND INCOME Class IB Seeks to achieve total return through UBS Global Asset Management capital appreciation with income as a (Americas) Inc. secondary consideration. --------------------------------------------------------------------------------------------------------------------------
THE FUNDS 17
-------------------------------------------------------------------------------------------- FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST - CLASS 2 PORTFOLIO NAME OBJECTIVE -------------------------------------------------------------------------------------------- FRANKLIN INCOME Seeks to maximize income while maintaining prospects SECURITIES FUND for capital appreciation. -------------------------------------------------------------------------------------------- FRANKLIN RISING Seeks long-term capital appreciation, with preservation of DIVIDENDS SECURITIES capital as an important consideration. FUND -------------------------------------------------------------------------------------------- AIM VARIABLE INSURANCE FUNDS - SERIES I SHARES PORTFOLIO NAME OBJECTIVE -------------------------------------------------------------------------------------------- INVESCO V.I. GLOBAL CORE Seeks long-term capital appreciation by investing primar- EQUITY FUND/(3)/ ily in equity securities of issuers throughout the world, in- cluding U.S. issuers. -------------------------------------------------------------------------------------------- INVESCO V.I. GLOBAL The fund's investment objective is long term growth of HEALTH CARE FUND capital. -------------------------------------------------------------------------------------------- INVESCO V.I. DIVERSIFIED The fund's investment objective is to provide reasonable DIVIDEND FUND/(4)/ current income and long-term growth of income and capital. -------------------------------------------------------------------------------------------- INVESCO V.I. TECHNOLOGY The fund's investment objective is long term growth of FUND capital. -------------------------------------------------------------------------------------------- JANUS ASPEN SERIES - INSTITUTIONAL SHARES OBJECTIVE -------------------------------------------------------------------------------------------- FORTY PORTFOLIO/(6)/ Seeks long-term growth of capital. -------------------------------------------------------------------------------------------- OVERSEAS PORTFOLIO Seeks long-term growth of capital. -------------------------------------------------------------------------------------------- MFS(R) VARIABLE INSURANCE TRUST - INITIAL CLASS OBJECTIVE -------------------------------------------------------------------------------------------- MFS(R) UTILITIES SERIES To seek total return. -------------------------------------------------------------------------------------------- OPPENHEIMER VARIABLE ACCOUNT FUNDS - SERVICE CLASS OBJECTIVE -------------------------------------------------------------------------------------------- OPPENHEIMER GLOBAL Seeks long-term capital appreciation by investing a sub- SECURITIES FUND/VA stantial portion of its assets in securities of foreign issuers, "growth-type" companies, cyclical industries and special situations that are considered to have appreciation possibilities. -------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------- PIMCO VARIABLE INSURANCE TRUST - ADMINISTRATIVE CLASS OBJECTIVE -------------------------------------------------------------------------------------------- PIMCO VIT GLOBAL Seeks maximum total return, consistent with preservation BOND PORTFOLIO of capital and prudent investment management. (UNHEDGED) -------------------------------------------------------------------------------------------- PROFUNDS VP PORTFOLIO NAME OBJECTIVE -------------------------------------------------------------------------------------------- PROFUND VP BEAR Seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily perform- ance of the S&P 500(R) Index. -------------------------------------------------------------------------------------------- PROFUND VP RISING RATES Seeks daily investment results, before fees and expenses, OPPORTUNITY that correspond to one and one-quarter times the inverse (-1.25x) of the daily price movement of the most recently issued 30-year U.S. Treasury Bond ("Long Bond"). -------------------------------------------------------------------------------------------- PROFUND VP ULTRABULL Seeks daily investment results, before fees and expenses that correspond to twice (2x) the daily performance of the S&P 500(R) Index. --------------------------------------------------------------------------------------------
----------------------------------------------------------------- FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST - CLASS INVESTMENT MANAGER (OR SUB-ADVISER(S), 2 PORTFOLIO NAME AS APPLICABLE) ----------------------------------------------------------------- FRANKLIN INCOME Franklin Advisers, Inc. SECURITIES FUND ----------------------------------------------------------------- FRANKLIN RISING Franklin Advisory Services, LLC DIVIDENDS SECURITIES FUND ----------------------------------------------------------------- AIM VARIABLE INSURANCE FUNDS - SERIES I SHARES INVESTMENT MANAGER (OR SUB-ADVISER(S), PORTFOLIO NAME AS APPLICABLE) ----------------------------------------------------------------- INVESCO V.I. GLOBAL CORE Invesco Advisers, Inc. EQUITY FUND/(3)/ ----------------------------------------------------------------- INVESCO V.I. GLOBAL Invesco Advisers, Inc. HEALTH CARE FUND Invesco Asset Management Limited ----------------------------------------------------------------- INVESCO V.I. DIVERSIFIED Invesco Advisers, Inc. DIVIDEND FUND/(4)/ ----------------------------------------------------------------- INVESCO V.I. TECHNOLOGY Invesco Advisers, Inc. FUND ----------------------------------------------------------------- JANUS ASPEN SERIES - INVESTMENT MANAGER (OR SUB-ADVISER(S), INSTITUTIONAL SHARES AS APPLICABLE) ----------------------------------------------------------------- FORTY PORTFOLIO/(6)/ Janus Capital Management, LLC ----------------------------------------------------------------- OVERSEAS PORTFOLIO Janus Capital Management, LLC ----------------------------------------------------------------- MFS(R) VARIABLE INSURANCE TRUST - INVESTMENT MANAGER (OR SUB-ADVISER(S), INITIAL CLASS AS APPLICABLE) ----------------------------------------------------------------- MFS(R) UTILITIES SERIES Massachusetts Financial Services Company ----------------------------------------------------------------- OPPENHEIMER VARIABLE ACCOUNT FUNDS - SERVICE INVESTMENT MANAGER (OR SUB-ADVISER(S), CLASS AS APPLICABLE) ----------------------------------------------------------------- OPPENHEIMER GLOBAL OppenheimerFunds, Inc. SECURITIES FUND/VA ----------------------------------------------------------------- ----------------------------------------------------------------- PIMCO VARIABLE INSURANCE TRUST - INVESTMENT MANAGER (OR SUB-ADVISER(S), ADMINISTRATIVE CLASS AS APPLICABLE) ----------------------------------------------------------------- PIMCO VIT GLOBAL Pacific Investment Management BOND PORTFOLIO Company, LLC (UNHEDGED) ----------------------------------------------------------------- PROFUNDS VP PORTFOLIO INVESTMENT MANAGER (OR SUB-ADVISER(S), NAME AS APPLICABLE) ----------------------------------------------------------------- PROFUND VP BEAR ProFund Advisors LLC ----------------------------------------------------------------- PROFUND VP RISING RATES ProFund Advisors LLC OPPORTUNITY ----------------------------------------------------------------- PROFUND VP ULTRABULL ProFund Advisors LLC -----------------------------------------------------------------
(1)The "AXA Allocation" Portfolios (2)This is the Portfolio's new name, effective on or about May 21, 2012, subject to regulatory approval. The Portfolio's former name was All Asset Allocation. (3)This is the Portfolio's new name, effective on or about April 30, 2012, subject to regulatory approval. The Portfolio's former name was Invesco Van Kampen V.I. Global Value Equity Fund. (4)This is the Portfolio's new name, effective on or about April 30, 2012, subject to regulatory approval. The Portfolio's former name was Invesco V.I. Dividend Growth Fund. (5)This is the Portfolio's new name, effective on or about May 1, 2012. The Portfolio's former name was EQ/Intermediate Government Bond Index. (6)Unlike the other Funds, the Janus Aspen Forty Portfolio is a nondiversified, open-end management investment company. A nondiversified Fund may hold a larger position in a smaller number of securities than a diversified Fund. This means that a single security's increase or decrease in value may have a greater impact on the return and net asset value of a nondiversified Fund than a diversified Fund. 18 THE FUNDS YOU SHOULD CONSIDER THE INVESTMENT OBJECTIVES, RISKS AND CHARGES AND EXPENSES OF THE PORTFOLIOS CAREFULLY BEFORE INVESTING. SHARE CLASSES, WHERE APPLICABLE, ARE DEFINED IN THE CORRESPONDING FUND PROSPECTUS. THE PROSPECTUSES FOR THE FUND CONTAIN THIS AND OTHER IMPORTANT INFORMATION ABOUT THE PORTFOLIOS. THE PROSPECTUSES SHOULD BE READ CAREFULLY BEFORE INVESTING. IN ORDER TO OBTAIN COPIES OF FUND PROSPECTUSES THAT DO NOT ACCOMPANY THIS PROSPECTUS, YOU MAY CALL ONE OF OUR CUSTOMER SERVICE REPRESENTATIVES AT 1-800-487-6669. Each Owner should periodically review their allocation of Purchase Payments and Fund Values among the subaccounts and the Guaranteed Interest Account with Market Value Adjustment in light of their current objectives, the current market conditions, and the risks of investing in each of the Funds' various portfolios. A full description of the objectives, policies, restrictions, risks and expenses for each of the Funds' portfolios can be found in the prospectus for each of the Funds. THE FUNDS 19 PURCHASE OF PORTFOLIO SHARES BY MONY AMERICA VARIABLE ACCOUNT A MONY America Variable Account A will buy and redeem shares from the Funds at net asset value. Shares will be redeemed when needed for the Company to: . collect charges under the Contracts; . pay Cash Value on full surrenders of the Contracts; . fund partial surrenders; . provide benefits under the Contracts; or . transfer assets from one subaccount to another or between one or more subaccounts of MONY America Variable Account A and the Guaranteed Interest Account with Market Value Adjustment as requested by Owners. Any dividend or capital gain distribution received from a portfolio of a Fund will be: . reinvested immediately at net asset value in shares of that portfolio; or . kept as assets of the corresponding subaccount. -------------------------------------------------------------------------------- CASH VALUE -- The Contract's Fund Value, less (1) any applicable surrender charge, (2) any outstanding debt, and (3) any applicable market value adjustment. -------------------------------------------------------------------------------- Shares of the Funds are not sold directly to the general public. They are sold to the Company, and may be sold to other insurance companies that issue variable annuity and variable life insurance contracts. In addition, they may be sold to retirement plans. When a Fund sells shares in any of its portfolios both to variable annuity and to variable life insurance company separate accounts, it engages in mixed funding. When a Fund sells shares in any of its portfolios to separate accounts of unaffiliated life insurance companies, it engages in shared funding. Each Fund may engage in mixed and shared funding. Therefore, due to differences in redemption rates or tax treatment, or other considerations, the interests of various shareholders participating in a Fund could conflict. The Boards of Directors or Trustees of each of the Funds monitors the respective Fund for the existence of material irreconcilable conflict between the interests of variable annuity Owners and variable life insurance Owners. The Boards shall report any such conflict to the boards of the Company and its affiliates. The Boards of Directors of the Company and its affiliates have agreed to be responsible for reporting any potential or existing mixed and shared funding conflicts to the Directors and Trustees of each of the relevant Funds. The Boards of Directors of the Company and its affiliates will remedy any conflict at their own cost. The remedy may include establishing a new registered management investment company and segregating the assets underlying the variable annuity contracts and the variable life insurance contracts. The investment objectives and policies of certain portfolios are similar to the investment objectives and policies of other portfolios that may be managed by the same investment adviser or manager. The investment results of the portfolios, however, may be higher or lower than the results of such other portfolios. There can be no assurance, and no representation is made that the investment results of any of the portfolios will be comparable to the investment results of any other portfolio, even if the other portfolio has the same investment adviser or manager, or if the other portfolio has a similar name. 20 THE FUNDS 4. Detailed information about the Contract -------------------------------------------------------------------------------- The Fund Value in MONY America Variable Account A and in the Guaranteed Interest Account with Market Value Adjustment provide many of the benefits of your Contract. The information in this section describes the benefits, features, charges and major provisions of the Contract and the extent to which those depend upon the Fund Value, particularly the Fund Value in MONY America Variable Account A. There may be differences in your Contract such as differences in fees, charges, and benefits because of the state where we issued your Contract. We will include any such differences in your Contract. If we issued your Contract in the State of Washington, please see Appendix I. PAYMENT AND ALLOCATION OF PURCHASE PAYMENTS ISSUE AGES The issue ages for the two benefit option packages available under the Contract vary as per the table below. The maximum issue age of the Annuitant for Option 1 is 85. The maximum issue age of the Annuitant for Option 2 is 79. For Option 3, it was 79.
------------------------------------------------------------------------------ OPTION 1 OPTION 2 OPTION 3* ------------------------------------------------------------------------------ Annuitant Issue Ages 0-85 0-79 0-79 ------------------------------------------------------------------------------
* As of November 29, 2004, Option 3 is no longer available for new business. ISSUANCE OF THE CONTRACT Disclosure regarding contract issuance and minimum initial Purchase Payments is for informational purposes only. This Contract is no longer available to new purchasers. The Contract is between you and the Company. The Contract is not an investment advisory account, and the Company is not providing any investment advice or managing the allocations under your Contract. In the absence of a specific written arrangement to the contrary, you as the owner of the Contract, have the sole authority to make investment allocations and other decisions under the Contract. Your AXA Advisors' financial professional is acting as a broker-dealer registered representative, and is not authorized to act as an investment advisor or to manage the allocations under your Contract. If your financial professional is a registered representative with a broker-dealer other than AXA Advisors, you should speak with him/her regarding any different arrangements that may apply. Individuals who want to buy a Contract must: (1)complete an application; (2)personally deliver the application to (a)a licensed agent of the Company who is also a registered representative of AXA Advisors, LLC or AXA Distributors, LLC (together, the "Distributors") who act as the principal underwriters for the Contracts, or (b)a licensed agent who is also a registered representative of a broker dealer which had been authorized by the Distributors to sell the Contract; and (3)pay the minimum initial Purchase Payment. If we receive a completed application and all other information necessary for processing a purchase order at our Operations Center, we will apply your initial Purchase Payment no later than two Business Days after we receive the order. While attempting to finish an incomplete application, we may hold your initial Purchase Payment for no more than five Business Days. If an incomplete application cannot be completed within those five days, we will inform you of the reasons, and will return your Purchase Payment immediately (unless you specifically authorize us to keep it until the application is complete). Once you complete your application, we must apply the initial Purchase Payment within two Business Days. We will apply any additional Purchase Payments you make on the Business Day we receive them at our Operations Center. The Contract may be used with certain tax qualified plans. The Contract includes attributes such as tax deferral on accumulated earnings. Qualified retirement plans provide their own tax deferral benefit; the purchase of this Contract does not provide additional tax deferral benefits beyond those provided in the qualified plan. Accordingly, if you are purchasing this Contract, you should purchase it for its death benefit, annuity benefits, and other non-tax related benefits. Please consult a tax adviser for information specific to your circumstances in order to determine whether the Contract is an appropriate investment for you. The minimum initial Purchase Payment for individuals varies depending upon the use of the Contract, the method of purchase and the benefit option package selected. The chart below shows the minimum initial Purchase Payment for each situation. DETAILED INFORMATION ABOUT THE CONTRACT 21 ------------------------------------------------------------------------------------------------------------------------------ USE OF CONTRACT OR METHOD OF MAKING PURCHASE PAYMENT MINIMUM INITIAL PURCHASE PAYMENT ------------------------------------------------------------------------------------------------------------------------------ Individual retirement accounts and annuities under $2,000 Section 408 of the Code (other than Simplified Employee Pensions), including Roth IRAs under Section 408A of the Code (no longer available to new purchasers). ------------------------------------------------------------------------------------------------------------------------------ Non-Qualified Contracts (no longer available to new Option 1 -- $5,000 purchasers). Option 2 -- $10,000 Option 3 -- $10,000 ------------------------------------------------------------------------------------------------------------------------------ H.R. 10 plans (self-employed individuals' retirement $600 plans under Section 401 of the Code) (no longer available to new purchasers) and Simplified Employee Pensions under Section 408 of the Code (no longer available to new purchasers). ------------------------------------------------------------------------------------------------------------------------------ Certain corporate or association retirement plans. $600 ------------------------------------------------------------------------------------------------------------------------------ Annuity purchase plans sponsored by certain tax-exempt $600 organizations, governmental entities and deferred compensation plans under Section 457 of the Code. ------------------------------------------------------------------------------------------------------------------------------ Payroll deduction and automatic checking account Annualized rate of $600 (i.e., $600 per year, $300 semiannually, $150 withdrawal plans. quarterly or $50 per month) ------------------------------------------------------------------------------------------------------------------------------ Government Allotment Plans $50 per month ------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------- GOVERNMENT ALLOTMENT PLANS -- Payroll deduction plans used for financial products by government employees. -------------------------------------------------------------------------------- Additional Purchase Payments may be made at any time -- before the annuity starting date as long as the Annuitant is living. However, for certain automatic payment plans, the smallest additional payment is $50. The Company reserves the right to revise its rules from time to time to specify different minimum Purchase Payments for such plans. In addition, the prior approval of the Company is needed before it will accept a Purchase Payment if that would cause Cumulative Purchase Payments, less any partial surrenders and their surrender charges and market value adjustments, to exceed $1,500,000. The Company reserves the right to reject an application for any reason permitted by law. Net Purchase Payments received before the Effective Date will be held in the Company's General Account and will be credited with interest at not less than 3.50% per year if: (1)the Contract is issued by the Company, and (2)the Contract is delivered to the Owner. No interest will be paid if the Contract is not issued or if it is declined by the Owner. These amounts will be held in that account pending end of the right to return contract period. (See below.) -------------------------------------------------------------------------------- EFFECTIVE DATE -- The date the contract begins as shown in the Contract. -------------------------------------------------------------------------------- TAX-FREE 'SECTION 1035' EXCHANGES This information is no longer applicable to the purchase of these Contracts as these Contracts are no longer available to new purchasers. The Owner can generally exchange one annuity contract for another in a 'tax-free exchange' under Section 1035 of the Internal Revenue Code. Similar rules may apply to changing the funding vehicle in a Qualified Plan. Before making the exchange, the Owner should compare both contracts carefully. Remember that if you exchange another contract for the one described in this prospectus, you might have to pay a surrender charge on the old contract. There will be a new surrender charge period for this Contract and other charges may be higher (or lower) and the benefits may be different. If the exchange does not qualify for Section 1035 treatment, the Owner may have to pay federal income tax, and penalty taxes on the exchange. The Owner should not exchange another contract for this one unless he or she determines, after knowing all the facts, that the exchange is in the Owner's best interest and not just better for the person trying to sell the Owner this Contract (that person will generally earn a commission if the Owner buys this Contract through an exchange or otherwise). RIGHT TO RETURN CONTRACT PROVISION This information is no longer applicable as these Contracts are no longer available to new purchasers. The Owner may return the Contract during the right to return contract period (usually within 10 days) of the delivery date. The Contract must be returned to the Company or any agent of the Company. When the Company receives the Contract, it will be voided as if it were never in effect. Unless state law requires otherwise, the amount to be refunded is equal to the Purchase Payments received by the Company, less any partial surrenders you made. During the right to return contract period, Purchase Payments will be retained in the Company's General Account and will earn interest at a rate not less than 3.50% per year. If you have not returned the Contract at the end of the right to return contract period, we transfer the Net Purchase Payments with interest to the subaccounts and/or the Guaranteed Interest Account. ALLOCATION OF PAYMENTS AND FUND VALUE ALLOCATION OF PAYMENTS. On the application, the Owner may allocate Net Purchase Payments to any of the available subaccounts of MONY America Variable Account A or to the Guaranteed Interest Account with Market Value Adjustment. Net Purchase Payments (and DETAILED INFORMATION ABOUT 22 THE CONTRACT any interest thereon) are held in the General Account if they are received before the end of the right to return contract period. The portion of Net Purchase Payments allocated to the Guaranteed Interest Account with Market Value Adjustment will be held in the Guaranteed Interest Account with Market Value Adjustment of the General Account for the specified period selected and will be credited with interest at the rate declared by the Company for that specified period. The portion of Net Purchase Payments allocated to subaccounts of MONY America Variable Account A will earn 3.50% annual interest until the right to return contract period expires. (See "Right to return contract provision" above.) After the right to return Contract period has expired, the value of Net Purchase Payments allocated to subaccounts of MONY America Variable Account A will automatically be transferred to MONY America Variable Account A subaccount(s) according to the Owner's percentage allocation. After the right to return contract period, under a non-automatic payment plan, if the Owner does not: (1)specify the amount to be allocated among subaccounts, or (2)specify the percentage to be allocated among subaccounts, or (3)the amount or percentage specified is incorrect or incomplete, the Net Purchase Payments will be allocated under the Owner's most recent instructions on record with the Company. The percentage specified must not be less than 5% of the Net Purchase Payment. Allocation percentages must total 100%. For automatic payment plans, Net Purchase Payments will be allocated according to the Owner's most recent instructions on record. The Owner may change the specified allocation formula for future Net Purchase Payments at any time without charge by sending written notification to the Company at the Operations Center. Prior allocation instructions may also be changed by telephone, facsimile or via the web subject to the rules of the Company and its right to terminate or modify telephone, facsimile or via the web allocation. The Company reserves the right to deny any telephone, facsimile or via the web allocation request. (See "Telephone/fax/web transactions.") Any such change, whether made in writing or by telephone, facsimile or via the web, will be effective seven days after we receive notice of the change in accordance with the requirements of state insurance departments and the Investment Company Act of 1940. Contracts issued in Maryland, Massachusetts, New Jersey, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas and Washington must maintain a minimum Fund Value balance of $2,500 in the Guaranteed Interest Account with Market Value Adjustment when an allocation to said account is chosen. CALCULATING UNIT VALUES FOR EACH SUBACCOUNT When allocated Net Purchase Payments are received they are credited to subaccounts of MONY America Variable Account A in the form of units. The number of units is determined by dividing the dollar amount allocated to a particular subaccount by the unit value for that subaccount for the Business Day on which the Purchase Payment is received. To determine the unit value of a subaccount on each Business Day, the Company takes the prior Business Day's unit value and multiplies it by the Net Investment Factor for the current Business Day. The Net Investment Factor is used to measure the investment performance of a subaccount from one Business Day to the next. The Net Investment Factor for each subaccount equals: (1)the net asset value per share of each Fund held in the subaccount at the end of the current Business Day divided by (2)the net asset value per share of each Fund held in the subaccount at the end of the prior Business day, minus (3)the daily mortality and expense risk charge and any other appli- cable charges adjusted for the number of calendar days in the period. The unit value of these subaccounts may increase, decrease or remain the same from Business Day to Business Day. The unit value depends on the investment performance of the portfolio of the Fund in which the subaccount invests and any expenses and charges deducted from MONY America Variable Account A. The Owner bears the entire investment risk. Owners should periodically review their allocations of payments and values in light of market conditions and overall financial planning requirements. CALCULATION OF GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT FUND VALUE Net Purchase Payments to be allocated to the Guaranteed Interest Account with Market Value Adjustment will be credited to the Accumulation Period chosen by the Owner on (1)the date received at the Operations Center, or (2)if the day Net Purchase Payments are received is not a Business Day, then on the next Business Day. Interest will be credited daily. CALCULATION OF FUND VALUE The Contract's Fund Value will reflect: . The investment performance of the selected subaccount(s) of MONY America Variable Account A. . Amounts credited (including interest) to the Guaranteed Interest Account with Market Value Adjustment. . Any Net Purchase Payments. . Any transfer charges. . Any partial surrenders. . Any outstanding debt. . All contract charges (including surrender charges and market value adjustments) imposed. There is no guaranteed minimum Fund Value, except to the extent Net Purchase Payments have been allocated to the Guaranteed Interest Account with Market Value Adjustment. Because a Contract's Fund Value at any future date will be dependent on a number of variables, it cannot be predetermined. The Fund Value will be computed first on the Effective Date and thereafter on each Business Day. On the Effective Date, the Contract's Fund Value will be the Net Purchase Payments received on or before DETAILED INFORMATION ABOUT THE CONTRACT 23 the Effective Date plus any interest credited on those Payments during the period when Net Purchase Payments are held in the General Account. (See "Issuance of the Contract".) After amounts allocated to the subaccounts are transferred from the General Account to MONY America Variable Account A, on each Business Day, the Contract's Fund Value will be computed as follows: (1)Determine the aggregate of the Fund Values attributable to the Contract in each of the subaccounts on that Business Day. This is done by multiplying the subaccount's unit value on that date by the number of subaccount units allocated to the Contract. The computation of the Contract's Fund Value in the subaccount is done before any other Contract transactions on that Business Day. (2)Add any amount credited to the Guaranteed Interest Account with Market Value Adjustment before that Business Day. This amount is the aggregate of all Net Purchase Payments allocated to the Guaranteed Interest Account with Market Value Adjust- ment and: . The addition of any interest credited. . Addition or subtraction of any amounts transferred. . Subtraction of any partial surrenders. . Subtraction of any contract charges, surrender charges, transfer charges, and any Market Value Adjustments (3)Add the value held in the loan account to secure contract loans and interest credited on that day on that amount; (4)Add any Net Purchase Payment received on that Business Day; (5)Subtract any partial surrender amount (reflecting any surrender charge and Market Value Adjustment) made on that Business Day; (6)Subtract any annual contract charge and/or transfer charge deductible on that Business Day. Regarding (1) above, for each subaccount we multiply the number of units credited to that subaccount by its unit Value on that Business Day. The multiplication is done before the purchase or redemption of any units on that Business Day. If a transaction would ordinarily require that the Contract's Fund Value be computed for a day that is not a Business Day, the next following Business Day will be used. TRANSFERS. You may transfer the value of the Contract among the subaccounts after the right to return contract period has expired by sending a proper written request to the Company's Operations Center. Transfers may be made by telephone, facsimile or via the web if proper authorization has been received at the Company's Operations Center. (See "Telephone/fax/web transactions.") Transfers will be executed at the net asset value next calculated by the Company if the transfer instruction is received and acknowledged by 4:00 p.m., Eastern Time on a day on which the New York Stock Exchange is open for business. If the New York Stock Exchange is not open for business on the day of receipt, the transfer instruction will be executed at the net asset value calculated at the close of business on the first day thereafter on which the New York Stock Exchange is open for business. Such transfers are subject to the Company's rules and conditions for such privilege. Currently, there are no limitations on the number of transfers between subaccounts. Our current transfer restrictions are set forth in the "Disruptive transfer activity" section below. Transfers may be postponed for any period during which (1)the New York Stock Exchange is closed other than customary weekend and holiday closings, or (2)trading on the New York Stock Exchange is restricted as determined by the Securities and Exchange Commission, or (3)an emergency exists as a result of which disposal of securities held by the Fund is not reasonably practicable or it is not reasonably practicable to determine the value of the net assets of the Fund. A transfer charge is not currently imposed on transfers. (See "Deductions from fund value -- Transfer charge.") However, the Company reserves the right to impose a charge which will not exceed $25 per transfer. If imposed the charge will be deducted from the first subaccount(s) or the Guaranteed Interest Account with Market Value Adjustment you designate funds to be transferred from. This charge is in addition to the amount transferred. All transfers in a single request are treated as one transfer transaction. A transfer resulting from the first reallocation of Fund Value at the end of the right to return contract period will not be subject to a transfer charge and transfers made at the end of an Accumulation Period of amounts allocated to the Guaranteed Interest Account with Market Value Adjustment (see below) will not be subject to a transfer charge. Under present law, transfers are not taxable transactions. TRANSFERS INVOLVING THE GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT. Transfers may be made from the Guaranteed Interest Account with Market Value Adjustment at any time, but, if they are made before the end of the 3, 5, 7, or 10 year Accumulation Period there will be a market value adjustment for Contracts issued in most states. If the transfer request is received within 30 days before the end of the Accumulation Period, no market value adjustment will apply. If multiple Accumulation Periods are in effect, your transfer request must specify from which Accumulation Period(s) we are to make the transfer. Contracts issued in Maryland, Massachusetts, New Jersey, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas and Washington with fund value in the Guaranteed Interest Account with Market Value Adjustment must maintain a minimum Fund Value in the Guaranteed Interest Account with Market Value Adjustment of $2,500. Please see "Payment and allocation of Purchase Payments" earlier in this section "Detailed information about the Contract" for more information about your role in managing your allocations. PORTFOLIO REBALANCING. Our portfolio rebalancing program can help prevent a well-conceived investment strategy from becoming diluted over time. Investment performance will likely cause the allocation percentages you originally selected to shift. With this program, you may instruct us to periodically reallocate values in your Contract. The program does not guarantee an investment gain or protect against an investment loss. You may elect or terminate the rebalancing program at any time. You may also change your allocations under the program at any time. Requesting a transfer while enrolled in our rebalancing program will automatically terminate your participation in the DETAILED INFORMATION ABOUT 24 THE CONTRACT program. This means that your account will no longer be rebalanced on a periodic basis. You must provide us with written instructions if you wish your account to be rebalanced in the future. TELEPHONE/FAX/WEB TRANSACTIONS Prior allocation instructions may be changed or transfers requested by telephone, fax or via the web subject to the Company's guidelines (which we believe to be reasonable) and the Company's right to modify or terminate the telephone/fax/web privilege. The Company reserves the right to deny any telephone, fax or web request. If all telephone lines are busy or the Internet is not available (for example, during periods of substantial market fluctuations), Owners may be unable to request telephone, fax or web allocation changes or transfers by telephone, fax or web. In such cases, an Owner would submit a written request. We have adopted guidelines relating to changes of allocations and transfers by telephone, fax or web which, among other things, outlines procedures designed to prevent unauthorized instructions. If the Owner does not follow these procedures: (1)the Company shall not be liable for any loss as a result of following fraudulent telephone, fax or web instructions; and (2)the Owner will, therefore, bear the entire risk of loss due to fraudulent telephone, fax or web instructions. A copy of the guidelines and our form for electing telephone/facsimile transfer privileges is available from your financial professional or by calling us at (800) 487-6669, Monday through Friday, 9 a.m. to 5 p.m., Eastern Time. Web transfer privileges and a copy of the guidelines and forms are available online at www.axaonline.com. The telephone or fax allocation and transfer privileges may also be elected by completing the telephone or fax authorization. The Company's form or a Contract application with a completed telephone or fax authorization must be signed and received at the Company's Operations Center before telephone or fax allocation instructions will be accepted. To elect web allocation and transfer privileges, you must log on to www.axaonline.com, and register for online account access. This online application must be electronically signed and received by the Company via the internet before web transaction instructions will be accepted. SPECIAL NOTE ON RELIABILITY. Please note that the internet or our telephone system may not always be available. Any system, whether it is yours, your service provider's, or your registered representative's, can experience unscheduled outages or slowdowns for a variety of reasons. These outages or slowdowns may delay or prevent our processing of your request. Although we have taken precautions to help our systems handle heavy use, we cannot promise complete reliability under all circumstances. If you are experiencing problems, you can make your transactions by writing our Operations Center. DISRUPTIVE TRANSFER ACTIVITY You should note that the Contract is not designed for professional "market timing" organizations, or other organizations or individuals engaging in a market timing strategy. The Contract is not designed to accommodate programmed transfers, frequent transfers or transfers that are large in relation to the total assets of the underlying portfolio. Frequent transfers, including market timing and other program trading or short-term trading strategies, may be disruptive to the underlying portfolios in which the subaccounts invest. Disruptive transfer activity may adversely affect performance and the interests of long-term investors by requiring a portfolio to maintain larger amounts of cash or to liquidate portfolio holdings at a disadvantageous time or price. For example, when market timing occurs, a portfolio may have to sell its holdings to have the cash necessary to redeem the market timer's investment. This can happen when it is not advantageous to sell any securities, so the portfolio's performance may be hurt. When large dollar amounts are involved, market timing can also make it difficult to use long-term investment strategies because a portfolio cannot predict how much cash it will have to invest. In addition, disruptive transfers or purchases and redemptions of portfolio investments may impede efficient portfolio management and impose increased transaction costs, such as brokerage costs, by requiring the portfolio manager to effect more frequent purchases and sales of portfolio securities. Similarly, a portfolio may bear increased administrative costs as a result of the asset level and investment volatility that accompanies patterns of excessive or short-term trading. Portfolios that invest a significant portion of their assets in foreign securities or the securities of small- and mid-capitalization companies tend to be subject to the risks associated with market timing and short-term trading strategies to a greater extent than portfolios that do not. Securities trading in overseas markets present time zone arbitrage opportunities when events affecting portfolio securities values occur after the close of the overseas market but prior to the close of the U.S. markets. Securities of small- and mid-capitalization companies present arbitrage opportunities because the market for such securities may be less liquid than the market for securities of larger companies, which could result in pricing inefficiencies. Please see the prospectuses for the underlying portfolios for more information on how portfolio shares are priced. We currently use the procedures described below to discourage disruptive transfer activity. You should understand, however, that these procedures are subject to the following limitations: (1) they primarily rely on the policies and procedures implemented by the underlying portfolios; (2) they do not eliminate the possibility that disruptive transfer activity, including market timing, will occur or that portfolio performance will be affected by such activity; and (3) the design of market timing procedures involves inherently subjective judgments, which we seek to make in a fair and reasonable manner consistent with the interests of all policy and contract owners. We offer subaccounts with underlying portfolios that are part of the AXA Premier VIP Trust and EQ Advisors Trust, as well as subaccounts with underlying portfolios of outside trusts with which AXA Equitable has entered participation agreements (the "unaffiliated trusts" and, collectively with the AXA Premier VIP Trust and EQ Advisors Trust, the "trusts"). The trusts have adopted policies and procedures regarding disruptive transfer activity. They discourage frequent purchases and redemptions of portfolio shares and will not make special arrangements to accommodate such transactions. They aggregate inflows and outflows for each portfolio on a daily basis. On any day when a portfolio's net inflows or outflows exceed an established monitoring threshold, the trust obtains from us contract owner trading activity. The affiliated trusts currently consider transfers into and out of (or DETAILED INFORMATION ABOUT THE CONTRACT 25 vice versa) the same subaccount within a five business day period as potentially disruptive transfer activity. When a Contract is identified in connection with potentially disruptive transfer activity for the first time, a letter is sent to the Contract owner explaining that there is a policy against disruptive transfer activity and that if such activity continues, certain transfer privileges may be eliminated. If and when the contract owner is identified a second time as engaged in potentially disruptive transfer activity under the Contract, we currently prohibit the use of voice, fax and automated transaction services. We currently apply such action for the remaining life of each affected contract. We or a trust may change the definition of potentially disruptive transfer activity, the monitoring procedures and thresholds, any notification procedures, and the procedures to restrict this activity. Any new or revised policies and procedures will apply to all contract owners uniformly. We do not permit exceptions to our policies restricting disruptive transfer activity. Each unaffiliated trust may have its own policies and procedures regarding disruptive transfer activity. If an unaffiliated trust advises us that there may be disruptive activity from one of our contract owners, we will work with the unaffiliated trust to review contract owner trading activity. Each trust reserves the right to reject a transfer that it believes, in its sole discretion, is disruptive (or potentially disruptive) to the management of one of its portfolios. Please see the prospectuses for the trusts for more information. It is possible that a trust may impose a redemption fee designed to discourage frequent or disruptive trading by contract owners. As of the date of this prospectus, the trusts had not implemented such a fee. If a redemption fee is implemented by a trust, that fee, like any other trust fee, will be borne by the contract owner. Contract owners should note that it is not always possible for us and the underlying trusts to identify and prevent disruptive transfer activity. In addition, because we do not monitor for all frequent trading at the separate account level, contract owners may engage in frequent trading which may not be detected, for example, due to low net inflows or outflows on the particular day(s). Therefore, no assurance can be given that we or the trusts will successfully impose restrictions on all potentially disruptive transfers. Because there is no guarantee that disruptive trading will be stopped, some contract owners may be treated differently than others, resulting in the risk that some contract owners may be able to engage in frequent transfer activity while others will bear the effect of that frequent transfer activity. The potential effects of frequent transfer activity are discussed above. TERMINATION OF THE CONTRACT The Contract will remain in effect until the earlier of: (1)the date the Contract is surrendered in full, (2)the date annuity payments start, (3)the Contract Anniversary on which, after deduction for any annual contract charge then due, no Fund Value in the subaccounts and the Guaranteed Interest Account with Market Value Adjustment remains in the Contract, or (4)the date the death benefit is payable under the Contract. DETAILED INFORMATION ABOUT 26 THE CONTRACT 5. Description of the Guaranteed Interest Account with Market Value Adjustment -------------------------------------------------------------------------------- GENERAL The Guaranteed Interest Account with Market Value Adjustment is an allocation option available under the contract. The Guaranteed Interest Account with Market Value Adjustment may not be available in every state jurisdiction. The guarantees associated with the Guaranteed Interest Account with Market Value Adjustment are borne exclusively by the Company. The guarantees associated with the Guaranteed Interest Account with Market Value Adjustment are legal obligations of the Company. Fund Values allocated to the Guaranteed Interest Account with Market Value Adjustment are held in the General Account of the Company. Amounts allocated to the General Account of the Company are subject to the liabilities arising from the business the Company conducts. The Company has sole investment discretion over the investment of the assets of its General Account. Owners having allocated amounts to a particular Accumulation Period of the Guaranteed Interest Account with Market Value Adjustment, however, will have no claim against any particular assets of the Company. The Guaranteed Interest Account with Market Value Adjustment provides for a Specified Interest Rate, which is a guaranteed interest rate that will be credited as long as any amount allocated to the Guaranteed Interest Account with Market Value Adjustment is not distributed for any reason prior to the Maturity Date of the particular Accumulation Period chosen by the Owner. Generally, a 3-year Accumulation Period offers guaranteed interest at a Specified Interest Rate over three years, a 5-year Accumulation Period offers guaranteed interest at a Specified Interest Rate over five years, and so on. Because the Maturity Date is the Monthly Contract Anniversary immediately prior to the 3, 5, 7 or 10 year anniversary of the start of the Accumulation Period, the Accumulation Period may be up to 31 days shorter than the 3, 5, 7 or 10 years, respectively. Although the Specified Interest Rate will continue to be credited as long as Fund Value remains in an Accumulation Period of the Guaranteed Interest Account with Market Value Adjustment prior to the Maturity Date of that Accumulation Period, surrenders or transfers (including transfers to the Loan Account as a result of a request by the Owner for a Loan) will be subject to a Market Value Adjustment, as described below. Market Value Adjustments do not apply upon annuitization under Settlement Option 3 or 3A. Market Value Adjustments do not apply for partial or full surrenders or transfers requested within 30 days before the end of the Accumulation Period, nor to any benefits paid upon the death of the Annuitant. The Market Value Adjustment does apply to benefits paid upon death of the Owner. Market Value Adjustments also do not apply to Contracts issued in Maryland, Massachusetts, New Jersey, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas and Washington. In addition, Contracts issued in these states must maintain a minimum Fund Value balance of $2,500 in the Guaranteed Interest Account with Market Value Adjustment when an allocation to this account is chosen. GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT The Guaranteed Interest Account with Market Value Adjustment is a part of the Company's General Account which consists of all the Company's assets other than assets allocated to segregated investment accounts of the Company, including MONY America Variable Account A. -------------------------------------------------------------------------------- MARKET VALUE ADJUSTMENT -- An amount added to or deducted from the amount surrendered or transferred from the Guaranteed Interest Account with Market Value Adjustment for contracts issued in certain states. ACCUMULATION PERIOD -- Currently 3, 5, 7 and 10 years. The Accumulation Period starts on the Business Day that falls on, or next follows the date the Purchase Payment is transferred into the Guaranteed Interest Account with Market Value Adjustment and ends on the monthly Contract anniversary immediately prior to the last day of that Accumulation Period. (THE ACCUMULATION PERIOD IS LIMITED TO ONE YEAR FOR CONTRACTS ISSUED IN MARYLAND, THE COMMONWEALTH OF MASSACHUSETTS, NEW JERSEY, OKLAHOMA, OREGON, THE COMMONWEALTH OF PENNSYLVANIA, SOUTH CAROLINA, TEXAS AND WASHINGTON.) CONTRACT YEAR -- Any period of twelve (12) months commencing with the Effective Date and each Contract Anniversary thereafter. CONTRACT ANNIVERSARY -- An anniversary of the Effective Date of the Contract. -------------------------------------------------------------------------------- ALLOCATIONS TO THE GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT There are three sources from which allocations to the Guaranteed Interest Account with Market Value Adjustment may be made: (1)an initial Purchase Payment made under a Contract may be wholly or partially allocated to the Guaranteed Interest Account with Market Value Adjustment; (2)a subsequent or additional Purchase Payment made under a Contract may be partially or wholly allocated to the Guaranteed Interest Account with Market Value Adjustment; and (3)amounts transferred from Subaccounts available under the Contract may be wholly or partially allocated to the Guaranteed Interest Account with Market Value Adjustment. There is no minimum amount of any allocation of either Purchase Payments or transfers of Fund Value to the Guaranteed Interest Account with Market Value Adjustment. The one (1) year Accumulation Period (which is limited to certain states in which there is no Market Value Adjustment), requires the Guaranteed Interest Account to have a minimum Fund Value of $2,500 when an allocation to said account is chosen. DESCRIPTION OF THE GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT 27 SPECIFIED INTEREST RATES AND THE ACCUMULATION PERIODS SPECIFIED INTEREST RATES The Specified Interest Rate, at any given time, is the rate of interest guaranteed by the Company to be credited to allocations made to the Accumulation Period for the Guaranteed Interest Account with Market Value Adjustment chosen by the Owner, so long as no portion of the allocation is distributed for any reason prior to the Maturity Date of the Accumulation Period. Different Specified Interest Rates may be established for the four different Accumulation Periods which are currently available (3, 5, 7 and 10 years). (The Accumulation Period is limited to one year for Contracts issued in Maryland, the Commonwealth of Massachusetts, New Jersey, Oklahoma, Oregon, the Commonwealth of Pennsylvania, South Carolina, Texas and Washington.) The Company declares Specified Interest Rates for each of the available Accumulation Periods from time to time. Normally, new Specified Interest Rates will be declared monthly; however, depending on interest rate fluctuations, declarations of new Specified Interest Rates may occur more or less frequently. The Company observes no specific method in the establishment of the Specified Interest Rates, but generally will attempt to declare Specified Interest Rates which are related to interest rates associated with fixed-income investments available at the time and having durations and cash flow attributes compatible with the Accumulation Periods then available for the Guaranteed Interest Account with Market Value Adjustment. In addition, the establishment of Specified Interest Rates may be influenced by other factors, including competitive considerations, administrative costs and general economic trends. The Company has no way of predicting what Specified Interest Rates may be declared in the future and there is no guarantee that the Specified Interest Rate for any of the Accumulation Periods will exceed the guaranteed minimum effective annual interest rate of 3.50%. OWNERS BEAR THE RISK THAT THE SPECIFIED INTEREST RATE WILL NOT EXCEED THE GUARANTEED MINIMUM RATE. The period of time during which a particular Specified Interest Rate is in effect for new allocations to the then available Accumulation Periods is referred to as the Investment Period. All allocations made to an Accumulation Period during an Investment Period are credited with the Specified Interest Rate in effect. An Investment Period ends only when a new Specified Interest Rate relative to the Accumulation Period in question is declared. Subsequent declarations of new Specified Interest Rates have no effect on allocations made to Accumulation Periods during prior Investment Periods. All such prior allocations will be credited with the Specified Interest Rate in effect when the allocation was made for the duration of the Accumulation Period selected. Information concerning the Specified Interest Rates in effect for the various Accumulation Periods can be obtained by contacting an agent of the Company who is also a registered representative of AXA Advisors, LLC or by calling the following toll free telephone number: (800) 487-6669. The Specified Interest Rate is credited on a daily basis to allocations made to an Accumulation Period elected by the Owner, resulting in an annual effective yield which is guaranteed by the Company, unless amounts are surrendered, transferred or paid out on death of Annuitant from that Accumulation Period for any reason prior to the Maturity Date for that Accumulation Period. The Specified Interest Rate will be credited for the entire Accumulation Period. If amounts are surrendered or transferred from the Accumulation Period for any reason prior to the Maturity Date, a Market Value Adjustment will be applied to the amount surrendered or transferred. CREDITING OF INTEREST Any Net Purchase Payments you as Owner of the Contract allocate to the Guaranteed Interest Account with Market Value Adjustment will be credited with interest at the rate declared by the Company. The Company guarantees that the rate credited will not be less than 3.50% annually (0.0094%, compounded daily). You bear the risk that we will not declare interest in excess of that 3.50% rate. If you allocate Purchase Payments or transfer funds to the Guaranteed Interest Account, you will choose between Accumulation Periods of 3, 5, 7, or 10 years for Contracts issued in most states. The Accumulation Period is limited to one year for Contracts issued in Maryland, the Commonwealth of Massachusetts, New Jersey, Oklahoma, Oregon, the Commonwealth of Pennsylvania, South Carolina, Texas and Washington. Before the beginning of each calendar month, the Company will declare interest rates for each period, if those rates will be higher than the guaranteed rate. Each interest rate declared by the Company will be applicable for all Net Purchase Payments received or transfers from MONY America Variable Account A completed within the period during which it is effective. Amounts you allocate to the Accumulation Period you select will receive this interest rate for the entire Accumulation Period. Within 45 days, but not less than 15 days before the Accumulation Period expires, we will notify you of the new rates we are then declaring. When the period expires you can (1) elect a new Accumulation Period of 3, 5, 7, or 10 years (except in certain states where the Accumulation Period is limited to a one year period) or (2) you may elect to transfer the amounts allocated to the expiring Accumulation Period to MONY America Variable Account A. If you make no election, the entire amount allocated to the expiring Accumulation Period will automatically be held for an Accumulation Period of the same length. If that period will extend beyond the annuity starting date or if that period is no longer offered, the money will be transferred into the Money Market subaccount. ACCUMULATION PERIODS For each Accumulation Period, the Specified Interest Rate in effect at the time of the allocation to that Accumulation Period is guaranteed. An Accumulation Period always ends on a Maturity Date, which is the Monthly Contract Anniversary immediately prior to the 3, 5, 7 or 10 year anniversary of the start of the Accumulation Period. Therefore, the Specified Interest Rate may be credited for up to 31 days less than the full 3, 5, 7 or 10 years. (The Accumulation Period is limited to one year for Contracts issued in Maryland, the Commonwealth of Massachusetts, New Jersey, Oklahoma, Oregon, the Commonwealth of Pennsylvania, South Carolina, Texas and Washington.) For example, if the Effective Date of a Contract is August 10, 2000 and an allocation is made to a 10 year Accumulation Period on August 15, 2000 and the funds for a new Purchase Payment are received on that day, the Accumulation Period will begin on August 15, 2000 and end on August 10, 2010, during which period the Specified Interest Rate will be credited. 28 DESCRIPTION OF THE GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT All Accumulation Periods for the 3, 5, 7, and 10 year Accumulation Periods, respectively, will be determined in a manner consistent with the foregoing example. END OF ACCUMULATION PERIODS At least fifteen days and at most forty-five days prior to the end of an Accumulation Period, the Company will send notice to the Owner of the impending Maturity Date. The notice will include the projected Fund Value held in the Accumulation Period on the Maturity Date and will specify the various options Owners may exercise with respect to the Accumulation Period: (1)During the thirty-day period before the Maturity Date, the Owner may wholly or partially surrender the Fund Value held in that Accumulation Period without a Market Value Adjustment; how- ever, Surrender Charges under the Contract, if applicable, will be assessed. (2)During the thirty-day period before the Maturity Date, the Owner may wholly or partially transfer the Fund Value held in that Accumulation Period, without a Market Value Adjustment, to any Subaccount then available under the Contract or may elect that the Fund Value held in that Accumulation Period be held for an additional Accumulation Period of the same number of years or for another Accumulation Period of a different number of years which may at the time be available. A confirmation of any such transfer or election will be sent immediately after the transfer or election is processed. (3)If the Owner does not make an election within thirty days following the Maturity Date, the entire Fund Value held in the maturing Accumulation Period will be transferred to an Accumulation Period of the same number of years as the Accumulation Period which matured. The start of the new Accumulation Period is the ending date of the previous Accumulation Period. However, if that period would extend beyond the Annuity Starting Date of the Contract or if that period is not then made available by the Company, the Fund Value held in the maturing Accumulation Period will be automatically transferred to the Money Market Subaccount at the end of the Maturity Period. A confirmation will be sent immediately after the automatic transfer is executed. During the thirty day period following the Maturity Date, and prior to any of the transactions set forth in (1), (2), or (3) above, the Specified Value held in the maturing Accumulation Period will continue to be credited with the Specified Interest Rate in effect before the Maturity Date. SURRENDERS, TRANSFERS OR LOANS When you as Owner request that Contract Fund Value from the Guaranteed Interest Account with Market Value Adjustment be transferred to MONY America Variable Account A, surrendered, loaned to you, or used to pay any charge imposed in accordance with the Contract, you should tell the Company the source by interest rate Accumulation Period of amounts you request be transferred, surrendered, loaned, or used to pay charges. We will not process the surrender unless you tell us the source by interest rate Accumulation Period to use. If you do not specify an Accumulation Period, your transaction will be processed using the Accumulation Periods in the order in which money was most recently allocated. THE MARKET VALUE ADJUSTMENT GENERAL INFORMATION REGARDING THE MVA A surrender or transfer (including a transfer to the Loan Account as a result of a request by the Owner for a Loan) from the Guaranteed Interest Account with Market Value Adjustment prior to the Maturity Date of that particular Accumulation Period, will be subject to a Market Value Adjustment. A Market Value Adjustment will not apply upon annuitization under Settlement Option 3 or 3A, or upon payment of a death benefit. The Market Value Adjustment is determined by the multiplication of an MVA Factor by the Specified Value, or the portion of the Specified Value being surrendered or transferred (including transfers for the purpose of obtaining a Loan). The Specified Value is the amount of the allocation of Purchase Payments and transfers of Fund Value to an Accumulation Period of the Guaranteed Interest Account with Market Value Adjustment, plus interest accrued at the Specified Interest Rate minus prior distributions. The Market Value Adjustment may either increase or decrease the amount of the distribution. It will not apply to requests for transfer or full or partial surrenders received at our administrative office within 30 days before the end of the applicable Accumulation Period. The Market Value Adjustment is intended to approximate, without duplicating, the experience of the Company when it liquidates assets in order to satisfy contractual obligations. Such obligations arise when Owners request surrenders or transfers (including transfers for the purpose of obtaining a Loan). When liquidating assets, the Company may realize either a gain or a loss. A market value adjustment can increase or decrease the amounts surrendered or transferred from the Guaranteed Interest Account with Market Value Adjustment depending on current interest rate fluctuations. If prevailing interest rates are higher at the time of a surrender or transfer (including transfers for the purpose of obtaining a Loan) than the Specified Interest Rate in effect at the time the Accumulation Period commences, the Company will realize a loss when it liquidates assets in order to process a surrender or transfer (including transfers for the purpose of obtaining a Loan); therefore, application of the Market Value Adjustment under such circumstances will decrease the amount of the surrender or transfer (including transfers for the purpose of obtaining a Loan). Generally, if prevailing interest rates are lower than the Specified Interest Rate in effect at the time the Accumulation Period commences, the Company will realize a gain when it liquidates assets in order to process a surrender or transfer (including transfers for the purpose of obtaining a Loan); therefore, application of the MVA under such circumstances will generally increase the amount of the surrender or transfer (including transfers for the purpose of obtaining a Loan). The Company measures the relationship between prevailing interest rates and the Specified Interest Rates it declares through the MVA Factor. The MVA Factor is described more fully below. THE MVA FACTOR The formula for determining the MVA Factor is: [(1+a)/(1+b)]/((n-t)/12) /- 1 DESCRIPTION OF THE GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT 29 Where: a =the Specified Interest Rate for the Accumulation Period from which the surrender, transfer or loan is to be taken; b =the Specified Interest Rate declared at the time a surrender or transfer is requested for an Accumulation Period equal to the time remaining in the Accumulation Period from which the surrender or transfer (including transfer to the Loan Account as a result of a request by the Owner for a Loan) is requested, plus 0.25%; n =the Accumulation Period from which the surrender or trans- fer occurs in months; and t =the number of elapsed months (or portion thereof) in the Accumulation Period from which the surrender or transfer occurs. If an Accumulation Period equal to the time remaining is not issued by the Company, the rate will be an interpolation between two available Accumulation Periods. If two such Accumulation Periods are not available, we will use the rate for the next available Accumulation Period. If the Company is no longer declaring rates on new payments, we will use Treasury yields adjusted for investment risk as the basis for the Market Value Adjustment. The MVA Factor shown above also accounts for some of the administrative and processing expenses incurred when fixed-interest investments are liquidated. This is represented in the addition of 0.25% in the MVA Factor. The MVA Factor will be multiplied by that portion of the Specified Value being surrendered, transferred, or distributed for any other reason. If the result is greater than zero, a gain will be realized by the Owner; if less than zero, a loss will be realized. If the MVA Factor is exactly zero, no gain or loss will be realized by the Owner. INVESTMENTS Amounts allocated to the Guaranteed Interest Account with Market Value Adjustment are transferred to the General Account of the Company. Amounts allocated to the General Account of the Company are subject to the liabilities arising from the business the Company conducts. This is unlike amounts allocated to the Subaccounts of MONY America Variable Account A, which are not subject to the liabilities arising from the business the Company conducts. The Company has sole investment discretion over the investment of the assets of the General Account. We will invest these amounts primarily in investment-grade fixed income securities including: securities issued by the U.S. Government or its agencies or instrumentalities, which issues may or may not be guaranteed by the U.S. Government; debt securities that have an investment grade, at the time of purchase, within the four highest grades assigned by Moody's Investor Services, Inc., Standard & Poor's Corporation, or any other nationally recognized rating service; mortgage-backed securities collateralized by real estate mortgage loans or securities collateralized by other assets, that are insured or guaranteed by the Federal Home Loan Mortgage Association, the Federal National Home Mortgage Association, or the Government National Mortgage Association, or that have an investment grade at the time of purchase within the four highest grades described above; commercial and agricultural mortgage loans; other debt instruments; commercial paper; cash or cash equivalents. Variable annuity Owners having allocated amounts to a particular Accumulation Period of the Guaranteed Interest Account with Market Value Adjustment will not have a direct or indirect interest in these investments, nor will they have a claim against any particular assets of the Company. The overall investment performance of the General Account will not increase or decrease their claim against the Company. There is no specific formula for establishing Specified Interest Rates. The Specified Interest Rates declared by the Company for the various Accumulation Periods will not necessarily correspond to the performance of any group of assets of the General Account. We will consider certain factors in determining these rates, such as regulatory and tax environment, sales commissions, administrative expenses borne by us, and competitive factors. The Company's management will make the final determination of these rates. However, the Specified Interest Rate will never be less than 3.50%. 30 DESCRIPTION OF THE GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT 6. Surrenders -------------------------------------------------------------------------------- The Owner may elect to make a surrender of all or part of the Contract's Fund Value provided it is: . on or before the annuity payments start, and . during the lifetime of the Annuitant. Any such election shall specify the amount of the surrender. The surrender will be effective on the date a proper written request is received by the Company at its Operations Center. The amount of the surrender may be equal to the Contract's Cash Value, which is its Fund Value less: (1)any applicable surrender charge, and (2)any applicable Market Value Adjustment. The surrender may also be for a lesser amount (a "partial surrender"). Requested partial surrenders that would leave a Cash Value of less than $1,000 are treated and processed as a full surrender. In such case, the entire Cash Value will be paid to the Owner. For a partial surrender, any surrender charge or any applicable Market Value Adjustment will be in addition to the amount requested by the Owner. A partial surrender may reduce your death benefit proportionately by the same percentage that the surrender (including any surrender charge and any market value adjustment, if applicable) reduced Fund Value. A surrender will result in the cancellation of units of the particular subaccounts and the withdrawal of amounts credited to the Guaranteed Interest Account with Market Value Adjustment Accumulation Periods as chosen by the Owner. The aggregate value of the surrender will be equal to the dollar amount of the surrender plus, if applicable, any surrender charge and any applicable Market Value Adjustment. For a partial surrender, the Company will cancel units of the particular subaccounts and withdraw amounts from the Guaranteed Interest Account with Market Value Adjustment Accumulation Period under the allocation specified by the Owner. The unit value will be calculated as of the end of the Business Day the surrender request is received. The Owner can specify partial surrender allocations by either amount or percentage. Allocations by percentage must be in whole percentages (totaling 100%). The minimum percentage of allocation for a partial surrender is 10% of any subaccount or Guaranteed Interest Account with Market Value Adjustment designated by the Owner. The request will not be accepted if: . there is insufficient Fund Value in the Guaranteed Interest Account with Market Value Adjustment or a subaccount to provide for the requested allocation against it, or . the request is incomplete or incorrect. Any surrender charge will be allocated against the Guaranteed Interest Account with Market Value Adjustment and each subaccount in the same proportion that each allocation bears to the total amount of the partial surrender. Contracts issued in Maryland, the Commonwealth of Massachusetts, New Jersey, Oklahoma, Oregon, the Commonwealth of Pennsylvania, South Carolina, Texas and Washington must maintain a minimum Fund Value in the Guaranteed Interest Account with Market Value Adjustment of $2,500. The amount of any surrender, death benefit, or transfer payable from MONY America Variable Account A amount will be paid in accordance with the requirements of the 1940 Act. However, the Company may be permitted to postpone such payment under the 1940 Act. Postponement is currently permissible only for any period during which: (1)the New York Stock Exchange is closed other than customary weekend and holiday closings, or (2)trading on the New York Stock Exchange is restricted as deter- mined by the Securities and Exchange Commission, or (3)an emergency exists as a result of which disposal of securities held by the Fund is not reasonably practicable or it is not reason- ably practicable to determine the value of the net assets of the Fund. Any surrender involving payment from amounts credited to the Guaranteed Interest Account with Market Value Adjustment may be postponed, at the option of the Company, for up to 6 months from the date the request for a surrender is received by the company. Surrenders involving payment from the Guaranteed Interest Account with Market Value Adjustment may in certain circumstances and in certain states also be subject to a Market Value Adjustment, in addition to a surrender charge. The Owner may elect to have the amount of a surrender settled under one of the settlement options of the Contract. (See "Annuity provisions".) Contracts offered by this prospectus may be issued in connection with retirement plans meeting the requirements of certain sections of the Internal Revenue Code. Owners should refer to the terms of their particular retirement plan for any limitations or restrictions on cash surrenders. The tax results of a cash surrender should be carefully considered. (See "Federal tax status".) Please note: If mandated under applicable law, we may be required to reject a Purchase Payment. In addition, we may also be required to block an Owner's account and thereby refuse to honor any request for transfers, partial surrenders, loans or death benefits until instructions are secured from the appropriate regulator. We may also be required to provide additional information about your account to government regulators. SURRENDERS 31 7. Loans -------------------------------------------------------------------------------- Qualified Contracts issued under an Internal Revenue Code Section 401(k) plan will have a loan provision (except in the case of Contracts issued in Vermont) under which a loan can be taken using the Contract as collateral for the loan. All of the following conditions apply in order for the amount to be considered a loan, rather than a (taxable) partial surrender: . The term of the loan must be 5 years or less. . Repayments are required at least quarterly and must be substan- tially level. . The loan amount is limited to certain dollar amounts as specified by the IRS. The Owner (Plan Trustee) must certify that these conditions are satisfied. In any event, the maximum outstanding loan on a Contract is 50% of the Fund Value in the subaccounts and/or the Guaranteed Interest Account with Market Value Adjustment. Loans are not permitted before the end of the right to return contract period. In requesting a loan, the Owner must specify the subaccounts from which Fund Value equal to the amount of the loan requested will be taken. Loans from the Guaranteed Interest Account with Market Value Adjustment are not taken until Fund Value in the subaccounts is exhausted. If in order to provide the Owner with the amount of the loan requested, and Fund Values must be taken from the Guaranteed Interest Account with Market Value Adjustment, then the Owner must specify the Accumulation Periods from which Fund Values equal to such amount will be taken. If the Owner fails to specify subaccounts and Accumulation Periods, the request for a loan will be returned to the Owner. Values are transferred to a loan account that earns interest at an annual rate of 3.50%. The annual loan interest rate charged on outstanding loans will be 6% in arrears. Any interest not paid when due will be added to the loan and bear interest at the 6% annual rate. Loan repayments must be specifically earmarked as loan repayment and will be allocated to the subaccounts and/or the Guaranteed Interest Account with Market Value Adjustment using the most recent payment allocation on record. Otherwise, we will treat the payment as a Net Purchase Payment. -------------------------------------------------------------------------------- LOAN -- Available under a Contract issued under Section 401(k) of the Code; subject to availability. To be considered a Loan: (1) the term must be no more than five years, (2) repayments must be at least quarterly and substantially level, and (3) the amount is limited to dollar amounts specified by the Code, not to exceed 50% of the Fund Value. LOAN ACCOUNT -- A part of the General Account where Fund Value is held as collateral for a loan. An Owner may transfer Fund Value in the Subaccounts, and/or Guaranteed Interest Account with Market Value Adjustment to the Loan Account. -------------------------------------------------------------------------------- 32 LOANS 8. Death benefit -------------------------------------------------------------------------------- DEATH BENEFIT PROVIDED BY THE CONTRACT The Company will pay a death benefit to the Beneficiary if (1)the Annuitant dies, and (2)the death occurs before the annuity payments start. If there are funds allocated to the Guaranteed Interest Account with Market Value Adjustment at the time of death, any applicable market value adjustment will be waived. If the death of the Annuitant occurs on or after the annuity payments start, no death benefit will be payable except as may be provided under the settlement option elected. The death benefit depends upon the benefit option package in effect on the date the Annuitant dies. You may not change benefit option packages once you select an option. For the chart relating to the death benefit under Contracts issued in the State of Washington, see Appendix I. ------------------------------------------------------------------------------- OPTION 1 OPTION 2 OPTION 3/(3)/ ------------------------------------------------------------------------------- THE GREATER OF: THE GREATEST OF: THE GREATEST OF: ------------------------------------------------------------------------------- (1)The Fund Value less (1)The Fund Value less (1)The Fund Value less any outstanding debt any outstanding debt any outstanding debt on the date due proof on the date due proof on the date due proof of the Annuitant's of the Annui- tant's of the Annuitant's death is received by death is received by death is received by the Company/(1)/ the Company/(1)/ the Company/(1)/ or or or (2)The Purchase Payments (2)The Purchase Payments (2)The Purchase Payments paid, reduced paid, reduced paid, reduced pro- portionately by proportionately by proportionately by each partial each partial surrender each partial surrender surrender (reflecting (reflecting any Market (reflecting any Market any Market Value Value Adjustment and Value Adjustment and Adjustment and any any surrender charge) any surrender charge) surrender charge) and and less any and less any less any outstanding outstanding debt/(2)/ outstanding debt/(2)/ debt/(2)/ or or (3) Step Up Value (see (3) Step Up Value (see description below). description below) or (4)Roll Up Value (see description below). ------------------------------------------------------------------------------- PLUS: PLUS: ------------------------------------------------------------------------------- Earnings Increase Death Earnings Increase Death Benefit (see "Earnings Benefit (see "Earnings Increase Death Benefit" Increase Death Benefit" section) section) ------------------------------------------------------------------------------- (1)Due proof of the Annuitant's death is deemed to be received by the Company as of the date it receives satisfactory proof of the Annuitant's death, any required instructions for the method of payment, forms necessary to effect payment and any other information it may require. (2)In the calculation of the death benefit for each partial surrender, the proportionate reduction is equal to the amount of that partial surrender and any surrender charge and any market value adjustment divided by the Fund Value immediately before that partial surrender, multiplied by the Purchase Payments paid before that partial surrender. For certain Contracts purchased prior to July 22, 2003, the death benefit is the greater of: (1) The Fund Value less any outstanding debt on the date due proof of the Annuitant's death is received by the Company, or (2) The Purchase Payments paid, less any partial surrenders and their surrender charges minus any outstanding debt, and plus or minus any market value adjustment. (3)As of November 29, 2004, Option 3 was no longer available for new business. In general, on the death of an Owner who is not the Annuitant, amounts must be distributed from the Contract. (See "Provisions required by Section 72(s) of the Code" later in this prospectus.) We will impose applicable surrender charges. (See "Charges and deductions" later in this prospectus.) STEP UP VALUE On the first Contract Anniversary, the Step Up Value is equal to the Fund Value of the Contract. Thereafter, on each subsequent Contract Anniversary prior to the Annuitant's 81st birthday, the Step Up Value will be recalculated to equal the greater of: (1)the Fund Value on that Contract Anniversary; or (2)the Step Up Value most recently calculated DEATH BENEFIT 33 . reduced proportionately/(1) /by any partial surrenders (including surrender charges and any applicable market value adjustments assessed) since the last recalculation anniversary, . plus any Purchase Payments made since the last recalculation anniversary. On each Contract Anniversary on or after the annuitant's 81st birthday, the Step Up Value shall be equal to the step up value on the Contract Anniversary preceding the annuitant's 81st birthday reduced proportionately by the same percentage that any partial surrenders (including surrender charges and any applicable market value adjustments assessed) reduced your Fund Value since that Contract Anniversary plus any Purchase Payments made since that Contract Anniversary. The Step Up Value payable on death will be the Step Up Value on the Contract Anniversary immediately preceding the death of the Annuitant (or Secondary Annuitant, if any): . reduced proportionately by any partial surrenders including surrender charges and any applicable market value adjustments assessed since that anniversary; . plus any Purchase Payments made since that Contract Anniversary; and . less any outstanding debt. In no event will the Step Up Value payable on death exceed 200% of: . the total Purchase Payments made reduced proportionately for each partial surrender (including surrender charges and any applicable market value adjustments assessed) and . less any outstanding debt. ROLL UP VALUE The Roll Up Value will be calculated as follows. On each Contract Anniversary prior to the Annuitant's 81st birthday, the Roll Up Value is the total of: . Purchase Payments accumulated at an annual interest rate of 5% from the date of the Purchase Payment to the date due proof of the Annuitant's death is received by the Company but not beyond the most recent contract anniversary prior to the Annuitant's 81st birthday; . plus any Purchase Payments made after the most recent Contract Anniversary prior to the Annuitant's 81st birthday but before the date due proof of death is received by the Company; . less partial surrenders (including surrender charges and any applicable Market Value Adjustments) accumulated at an annual interest rate of 5% from the date of the partial surrender to the date due proof of the Annuitant's death is received by the Company but not beyond the most recent Contract Anniversary prior to the Annuitant's 81st birthday; and . less any partial surrenders made after the most recent Contract Anniversary prior to the Annuitant's 81st birthday but before the date due proof of the Annuitant's death is received by the Company. On each Contract Anniversary on or after the Annuitant's 81st birthday, the Roll Up Value shall be equal to the Roll Up Value on the Contract Anniversary preceding the Annuitant's 81st birthday . less any partial surrenders (including surrender charges and Market Value Adjustments assessed) since that Contract Anniversary; . plus any Purchase Payments made since that Contract Anniversary. The Roll Up Value payable on death will be the Roll Up Value on the Contract Anniversary immediately preceding the death of the Annuitant (or Secondary Annuitant, if any) . less any partial surrenders (including surrender charges and any applicable market value adjustments assessed) since that Contract Anniversary; . plus any Purchase Payments made since that Contract Anniversary, and . less any outstanding debt. In no event will the roll up value payable on death exceed 200% of: . the total Purchase Payments made reduced proportionately by the same percentage that any partial surrenders (including surrender charges and any applicable Market Value Adjustments assessed) reduced your Fund Value and; . less any outstanding debt. EARNINGS INCREASE DEATH BENEFIT If Option 2 or Option 3 was selected, an additional death benefit, called the Earnings Increase Amount may be added to the applicable death benefit otherwise payable under the Contract. The amount of the Earnings Increase Amount depends upon the age of the Annuitant on the Contract's Effective Date. If the Annuitant was age 69 or younger on the Contract's Effective Date, the Earnings Increase Amount is equal to 40% of the lesser of: (1)Net Purchase Payments; or (2)Fund Value minus Purchase Payments. If the Annuitant was age 70 or older on the Contract's Effective Date, the Earnings Increase Amount is equal to 25% of the lesser of: (1)Net Purchase Payments; or (2)Fund Value minus Purchase Payments. The payments and values described in (1) and (2) above: (a)do not include Purchase Payments made during the 12-month period immediately prior to the date due proof of death is received by the Company; and 34 DEATH BENEFIT ------------- (1)In the calculations of Step Up Value, for each partial surrender, the proportionate reduction percentage is equal to the amount of that partial surrender divided by the Fund Value immediately before the partial surrender. (b)reflect any partial surrenders made including any applicable Market Value Adjustment and any surrender charge, and are reduced by any outstanding debt. The Earnings Increase Amount is calculated as of the date due proof of death of the Annuitant (or Secondary Annuitant) prior to the annuity starting date is received by the Company. There are important things you should consider before you select the earnings increase death benefit. These include: . The earnings increase death benefit does not guarantee that any amount will be added to your death benefit when payable. You bear the investment risk of investing in the subaccounts. Market declines may cause your Fund Value to be less than your Net Purchase Payments. In that event, we will not pay any amount under the Earnings Increase Death Benefit. . Once you select the Earnings Increase Death Benefit, you cannot cancel it. This means that regardless of any changes in your circumstances, or even if the investment performance of the portfolios is such that the resulting basic death benefit would be sufficient to meet your needs, we will continue to assess the Earnings Increase Death Benefit charges. . Please take advantage of the guidance of a qualified financial adviser in evaluating the Earnings Increase Death Benefit option, as well as the other aspects of the Contract. ELECTION AND EFFECTIVE DATE OF ELECTION The Owner may elect to have the death benefit of the Contract applied under one of four settlement options to effect an annuity for the Beneficiary as payee after the death of the Annuitant. The election must take place: (1)during the lifetime of the Annuitant, and (2)before the annuity payments start. If no election of a settlement option for the death benefit is in effect on the date when proceeds become payable, the Beneficiary may elect: (1)to receive the death benefit in the form of a lump sum payment; or (2)to have the death benefit applied under one of the settlement options. (See "Settlement options".) If an election by the payee is not received by the Company within one month following the date proceeds become payable, the payee will be considered to have elected a lump sum payment. Either election described above may be made by filing a written election with the Company in such form as it may require. Any proper election of a method of settlement of the death benefit by the Owner will become effective on the date it is signed. However, any election will be subject to any payment made or action taken by the Company before receipt of the notice at the Company's Operations Center. Settlement option availability may be restricted by the terms of any applicable retirement plan and any applicable legislation for any limitations or restrictions on the election of a method of settlement and payment of the death benefit. PAYMENT OF DEATH BENEFIT PROCEEDS If the death benefit proceeds are to be paid in cash to the Beneficiary, payment will be made within seven (7) days of the date due proof of death of the Annuitant is received. The Company may be permitted to postpone such payment from amounts payable from MONY America Variable Account A under the 1940 Act. If the death benefit is to be paid in one sum to the successor Beneficiary, or to the estate of the deceased Annuitant, payment will be made within seven (7) days of the date due proof of the death of the Annuitant and the Beneficiary is received by the Company. Unless another election is made, the death benefit proceeds will be transferred to an interest bearing checking account. The Beneficiary may make partial or full withdrawals from such account through a checkbook provided to the Beneficiary. DEATH BENEFIT 35 9. Charges and deductions -------------------------------------------------------------------------------- The following table summarizes the charges and deductions under the Contract: ------------------------------------------------------------------------------- DEDUCTIONS FROM PURCHASE PAYMENTS ------------------------------------------------------------------------------- Tax charge Range for State and local premium tax -- 0% to 3.50%/(1)/. Federal -- Currently 0% (Company reserves the right to charge in the future.) ------------------------------------------------------------------------------- DAILY DEDUCTIONS FROM MONY AMERICA VARIABLE ACCOUNT A ------------------------------------------------------------------------------- Mortality & expense risk charge Option 1 Annual Rate deducted daily from Maximum daily rate -- 0.003836% average daily net assets Option 1 -- Current annual rate is 1.20%. Maximum annual rate -- 1.40% -------------------------------------- Option 2 Maximum daily rate -- 0.005342% Option 2 -- Current annual rate is 1.70%. Maximum annual rate -- 1.95% -------------------------------------- Option 3/(2)/ Maximum daily rate -- 0.007671% Option 3 -- Current annual rate is 2.35%. Maximum annual rate -- 2.80% ------------------------------------------------------------------------------- DEDUCTIONS FROM FUND VALUE ------------------------------------------------------------------------------- Annual contract charge Maximum annual contract charge Option 1 -- Current charge is $30. Option 1 -- The annual contract charge may be increased to a max-imum of $50 on 30 days written notice. Option 2 -- Current charge is $0. Option 2 -- The annual contract charge may be increased to a max-imum of $50 on 30 days written notice. Option 3/(2) /-- Current charge is $0. Option 3/(2) /-- The annual contract charge may be increased to a maximum of $50 on 30 days written notice. ------------------------------------------------------------------------------- Transaction and other charges Maximum Transaction and Other Charges Transfer charge Option 1 -- Current charge is $0. Option 1 -- The Company has reserved the right to impose a charge for each transfer which will not exceed $25. Option 2 -- Current charge is $0. Option 2 -- The Company has reserved the right to impose a charge for each transfer which will not exceed $25. Option 3/(2) /-- Current charge is $0. Option 3/(2) /-- The Company has reserved the right to impose a charge for each transfer which will not exceed $25. ------------------------------------------------------------------------------- Surrender charge Grades from 7% to 0% of Fund Value See grading schedule and "Charges and surrendered based on a schedule deductions -- Charges against fund value" for details of how it is computed. ------------------------------------------------------------------------------- Loan interest spread 2.50% ------------------------------------------------------------------------------- (1)Company currently assumes responsibility; current charge to Owner 0%. (2)As of November 29, 2004, Option 3 was no longer available for new business. The following provides additional details of the charges and deductions under the Contract. Please note that the amount of the charge may not necessarily correspond to the costs associated with providing the services or benefits indicated by the designation of the charge. For example, the surrender charge we collect may not fully cover all of the sales and distribution expenses we actually incur. We also may realize a profit on one or more of the charges. We may use such profits for any corporate purpose, including the payment of sales expenses. 36 CHARGES AND DEDUCTIONS DEDUCTIONS FROM PURCHASE PAYMENTS Deductions may be made from Purchase Payments for a charge for state and local premium or similar taxes prior to allocation of any Net Purchase Payment among the subaccounts. Currently, the Company makes no deduction, but may do so with respect to future Purchase Payments. If the Company is going to make deductions for such tax from future Purchase Payments, it will give notice to each affected Owner. CHARGES AGAINST FUND VALUE DAILY DEDUCTION FROM MONY AMERICA VARIABLE ACCOUNT A MORTALITY AND EXPENSE RISK CHARGE. The Company assumes mortality and expense risks. A charge for assuming such risks is deducted daily from the net assets of MONY America Variable Account A. The charge varies based on the benefit option package selected. Option 1 -- For Option 1, the daily mortality and expense risk charge from MONY America Variable Account A is deducted at a current daily rate equivalent to an annual rate of 1.20% from the value of the net assets of MONY America Variable Account A. The rate is guaranteed not to exceed a daily rate equivalent to an annual rate of 1.40% from the value of the net assets of MONY America Variable Account A. The mortality and expense risk charge is deducted from MONY America Variable Account A, and therefore the subaccounts, on each Business Day. Where the previous day (or days) was not a Business Day, the deduction currently on the next Business Day will be 0.003288% (guaranteed not to exceed 0.003836%) multiplied by the number of days since the last Business Day. Option 2 -- For Option 2, the daily mortality and expense risk charge from MONY America Variable Account A is deducted at a current daily rate equivalent to an annual rate of 1.70% from the value of the net assets of MONY America Variable Account A. The rate is guaranteed not to exceed a daily rate equivalent to an annual rate of 1.95% from the value of the net assets of MONY America Variable Account A. The mortality and expense risk charge is deducted from MONY America Variable Account A, and therefore the subaccounts, on each Business Day. Where the previous day (or days) was not a Business Day, the deduction currently on the next Business Day will be 0.004658% (guaranteed not to exceed 0.005342%) multiplied by the number of days since the last Business Day. Option 3 -- For Option 3, the daily mortality and expense risk charge from MONY America Variable Account A is deducted at a current daily rate equivalent to an annual rate of 2.35% from the value of the net assets of MONY America Variable Account A. The rate is guaranteed not to exceed a daily rate equivalent to an annual rate of 2.80% from the value of the net assets of MONY America Variable Account A. The mortality and expense risk charge is deducted from MONY America Variable Account A, and therefore the subaccounts, on each Business Day. Where the previous day (or days) was not a Business Day, the deduction currently on the next Business Day will be 0.006438% (guaranteed not to exceed 0.007671%) multiplied by the number of days since the last Business Day. The mortality risk assumed by the Company is that Annuitants may live for a longer time than projected. If that occurs, an aggregate amount of annuity benefits greater than that projected will be payable. In making this projection, the Company has used the mortality rates from the 1983 Table "a" (discrete functions without projections for future mortality), with 3.50% interest. In addition, the Company also assumes risk in connection with the Step-Up Value, Roll-Up Value and Earnings Increase Death Benefit. The expense risk assumed is that expenses incurred in issuing and administering the Contracts will exceed the expense charges provided in the Contracts. Mortality and expense risk charges which may be assessed under Contracts will not be assessed against any allocation to the Guaranteed Interest Account with Market Value Adjustment. Such charges apply only to the Fund Value allocated to the Subaccounts. If the amount of the mortality and expense risk charge exceeds the amount needed, the excess will be kept by the Company in its General Account. If the amount of the charge is inadequate, the Company will pay the difference out of its General Account. DEDUCTIONS FROM FUND VALUE ANNUAL CONTRACT CHARGE. The Company has primary responsibility for the administration of the Contract and MONY America Variable Account A. An annual contract charge helps to reimburse the Company for administrative expenses related to the maintenance of the Contract. Ordinary administrative expenses expected to be incurred include premium collection, recordkeeping, processing death benefit claims and surrenders, preparing and mailing reports, and overhead costs. In addition, the Company expects to incur certain additional administrative expenses in connection with the issuance of the Contract, including the review of applications and the establishment of Contract records. The Company intends to administer the Contract itself through an arrangement whereby it may buy some administrative services from AXA Equitable and such other sources as may be available. The current amount of the annual contract charge depends upon the benefit option package selected.
---------------------------------------------------------------------------------------------------- ANNUAL CONTRACT CHARGE ---------------------------------------------------------------------------------------------------- OPTION 1 OPTION 2 OPTION 3 ---------------------------------------------------------------------------------------------------- Current charge is $30. Current Charge is Current Charge is $0. $0. ---------------------------------------------------------------------------------------------------- The annual contract charge may be increased to a maximum of The annual contract The annual contract $50. charge may be charge may be increased to a increased to a maximum of $50. maximum of $50. ----------------------------------------------------------------------------------------------------
The Owner will receive a written notice 30 days in advance of any change in the charge. Any applicable charge will be assessed once per year on the Contract Anniversary, starting on the first Contract Anniversary. If applicable, the annual contract charge is deducted from the Fund Value on each Contract Anniversary before the date annuity payments start. The amount of the charge will be allocated against the Guaranteed Interest Account with Market Value Adjustment and each subaccount of MONY America Variable Account A in the same proportion that the Fund Value in those accounts bears to the Fund Value of the Contract. The Company does not expect to make any profit from the Annual Contract Charge. CHARGES AND DEDUCTIONS 37 TRANSFER CHARGE. Contract value may be transferred among the sub-accounts or to or from the Guaranteed Interest Account with Market Value Adjustment and one or more of the subaccounts (including transfers made by telephone, facsimile or via the web, if permitted by the Company). Although we currently do not charge for transfers, the Company reserves the right to impose a transfer charge for each transfer instructed by the Owner. The transfer charge compensates the Company for the costs of effecting the transfer. The transfer charge will not exceed $25. The Company does not expect to make a profit from the transfer charge. If imposed, the transfer charge will be deducted from the Contract's Fund Value held in the subaccount(s) or from the Guaranteed Interest Account with Market Value Adjustment from which the first transfer is made. SURRENDER CHARGE. A contingent deferred sales charge (called a "Surrender Charge") will be imposed when a full or partial surrender is requested or at the start of annuity benefits if it is during the first eight years of the Contract. The surrender charge will never exceed 7% of the total Fund Value. The surrender charge is intended to reimburse the Company for expenses incurred in distributing the Contract. To the extent such charge is insufficient to cover all distribution costs, the Company will make up the difference. The Company will use funds from its General Account, which may contain funds deducted from MONY America Variable Account A to cover mortality and expense risks borne by the Company. (See "Mortality and expense risk charge"). We impose a surrender charge when a full or partial surrender is made during the first eight Contract Years, except as provided below. A surrender charge will not be imposed: (1)Against Fund Value surrendered after the eighth Contract Year. (2)To the extent necessary to permit the Owner to obtain an amount equal to the free partial surrender amount (See "Free partial surrender amount"). (3)If the Contract is surrendered after the third Contract Year and the surrender proceeds are paid under either Settlement Option 3 or Settlement Option 3A (See "Settlement options"). The elimination of a surrender charge in this situation does not apply to Contracts issued in the State of Texas. (4)Subject to approval within a state, if the Owner is confined in a Nursing Home and the following conditions are met: (a)At the time a request for a full or partial surrender is made, the Company receives proof the Owner is currently confined to a Nursing Home and has spent a period of 90 consecutive days in the Nursing Home; (b)the confinement must have been prescribed by a physician; (c)the 90-day period must have started after the Contract's first anniversary; and (d)the Annuitant is between ages 0-75 at the time the Contract is issued. -------------------------------------------------------------------------------- NURSING HOME/(1)/ -- A facility which (a)is licensed by or legally operated in a state as a skilled or intermediate care facility; (b)provides 24 hour per day nursing care under the supervision of a registered nurse to persons who do not require hospitalization but who do require care above the level of room and board with assistance; (c)is under the supervision of a physician; and (d)maintains a daily clinical record of each patient in conformance with a plan of care. A nursing home does not include a hospital or a facility licensed only to offer supervised or assisted room and board, rest care, care of the aged or treatment of alcoholism, drug addictions or mental or nervous disorders. (1)The definition of Nursing Home may vary by state. -------------------------------------------------------------------------------- In no event will the aggregate surrender charge exceed 7% of the Fund Value. Further, in no event will the surrender charges imposed, when added to any surrender charges previously paid on the Contract, exceed 9% of aggregate Purchase Payments made to date for the Contract. The Owner may specify whether he/she wants the surrender charge to be deducted from the amount requested for surrender or the Fund Value remaining. If not specified or if the Fund Value remaining is not sufficient, then the surrender charge will be deducted from the amount requested for surrender. If it is specified that the surrender charge will come from the remaining Fund Value and it is sufficient, then the Company will determine the appropriate amount to be surrendered in order to pay the surrender charge. Any surrender charge will be allocated against the Guaranteed Interest Account with Market Value Adjustment and each subaccount of MONY America Variable Account A in the same proportion that the amount of the partial surrender allocated against those accounts bears to the total amount of the partial surrender. If any surrender from the Guaranteed Interest Account with Market Value Adjustment occurs prior to the Maturity Date for any particular Accumulation Period elected by the Owner, the amount surrendered will be subject to a Market Value Adjustment in addition to Surrender Charges. No surrender charge will be deducted from death benefits except as described in "Death benefit". If an existing The MONYMaster variable annuity contract issued by MONY Life Insurance Company of America is exchanged for this Contract, a separate effective date will be assigned to the Contract by endorsement for purposes of determining the amount of any Surrender Charge. The surrender charge effective date of this Contract with the endorsement will be the effective date of the existing The MONY-Master variable annuity contract. Your agent can provide further details. We reserve the right to disallow exchanges at any time. AMOUNT OF SURRENDER CHARGE. The amount of the surrender charge is equal to a varying percentage of Fund Value during the first 8 Contract Years. The surrender charge is determined by multiplying the 38 CHARGES AND DEDUCTIONS surrender charge percentage for the Contract Year by the amount of Fund Value requested as follows:
------------------------------------------------------------------- SURRENDER CHARGE PERCENTAGE TABLE ------------------------------------------------------------------- # OF CONTRACT ANNIVERSARIES SINCE SURRENDER CHARGE (AS A % OF FUND EFFECTIVE DATE VALUE SURRENDERED) ------------------------------------------------------------------- 0 7% ------------------------------------------------------------------- 1 7 ------------------------------------------------------------------- 2 6 ------------------------------------------------------------------- 3 6 ------------------------------------------------------------------- 4 5 ------------------------------------------------------------------- 5 4 ------------------------------------------------------------------- 6 3 ------------------------------------------------------------------- 7 2 ------------------------------------------------------------------- 8 (or more) 0 -------------------------------------------------------------------
The amount of the surrender charge is in addition to any applicable Market Value Adjustment that may be made if the surrender is made from Fund Value in the Guaranteed Interest Account with Market Value Adjustment. (See "Guaranteed Interest Account with Market Value Adjustment -- Surrenders" and the prospectus for the Guaranteed Interest Account with Market Value Adjustment which accompanies this prospectus for further details.) FREE PARTIAL SURRENDER AMOUNT. The surrender charge may be reduced by using the free partial surrender amount provided for in the Contract. The surrender charge will not be deducted in the following circumstances: (1)For Qualified Contracts, (other than contracts issued for IRA and SEP-IRA), an amount each Contract Year up to the greater of: (a)$10,000 (but not more than the Contract's Fund Value), or (b)10% of the Contract's Fund Value at the beginning of the Contract Year (except if the surrender is requested during the first Contract Year, then 10% of the Contract's Fund Value at the time the first surrender is requested). (2)For Non-Qualified Contracts (and contracts issued for IRA and SEP-IRA), an amount up to 10% of the Contract's Fund Value at the beginning of the Contract Year (except if the surrender is requested during the first Contract Year, then 10% of the Contract's Fund Value at the time the first surrender is requested) may be received in each Contract Year without a surrender charge. Free partial surrenders may only be made to the extent Cash Value in the subaccounts and/or Guaranteed Interest Account is available. For example, the Fund Value in the MONY America Variable Account A could decrease (due to unfavorable investment experience) after part of the 10% was withdrawn. In that case it is possible that there may not be enough Cash Value to provide the remaining part of the 10% free partial surrender amount. Contract Fund Value here means the Fund Value in the subaccounts (and the Guaranteed Interest Account with Market Value Adjustment not the loan account). This reduction of surrender charge does not affect any applicable Market Value Adjustment that may be made if the surrender is made from Fund Value in the Guaranteed Interest Account with Market Value Adjustment. (See "Guaranteed Interest Account with Market Value Adjustment -- Surrenders" and the prospectus for the Guaranteed Interest Account with Market Value Adjustment which accompanies this prospectus for further details.) TAXES Currently, no charge will be made against MONY America Variable Account A for federal income taxes. However, the Company may make such a charge in the future if income or gains within MONY America Variable Account A will incur any federal income tax liability. Charges for other taxes, if any, attributable to MONY America Variable Account A may also be made. (See "Federal tax status".) INVESTMENT ADVISORY AND OTHER FEES Each portfolio in which MONY America Variable Account A invests incurs certain fees and charges. To pay for these fees and charges, the portfolio makes deductions from its assets. Certain portfolios available under the Contract in turn invest in shares of other portfolios of AXA Premier VIP Trust and EQ Advisors Trust and/or shares of unaffiliated portfolios (collectively the "underlying portfolios"). The underlying portfolios each have their own fees and expenses, including management fees, operating expenses, and investment related expenses such as brokerage commissions. The portfolio expenses are described more fully in each Fund prospectus. We sell the Contracts through registered representatives of broker-dealers. These registered representatives are also appointed and licensed as insurance agents of the Company. We pay commissions to the broker-dealers for selling the Contracts. You do not directly pay these commissions, we do. We intend to recover commissions, marketing, administrative and other expenses and cost of Contract benefits through the fees and charges imposed under the Contracts. (See "Distribution of the Contracts" for more information.) CHARGES AND DEDUCTIONS 39 10. Annuity provisions -------------------------------------------------------------------------------- ANNUITY PAYMENTS Annuity payments under a Contract will begin on the date that is selected by the Owner when the Contract is applied for. The date chosen for the start of annuity payments may be: (1)no earlier than the 10th Contract Anniversary, and (2)no later than the Contract Anniversary after the Annuitant's 95th birthday. The minimum number of years from the Effective Date to the start of annuity payments is 10. While the Annuitant is living, the date when annuity payments start may be: (1)Advanced to a date that is not earlier than the 10th Contract Anniversary. (2)Deferred from time to time by the Owner by written notice to the Company. The date when annuity payments start will be advanced or deferred if: (1)Notice of the advance or deferral is received by the Company prior to the current date for the start of annuity payments. (2)The new start date for annuity payments is a date which is not later than the Contract Anniversary after the Annuitant's 95th birthday. The change will be effective as of the date we receive your written request at our Operations Center. You do not need to return the Contract for us to make the change unless we ask for it. A particular retirement plan may contain other restrictions. For Contracts issued in connection with retirement plans, reference should be made to the terms of the particular retirement plan for any limitations or restrictions on when annuity payments start. When annuity payments start, unless Settlement Option 3 or 3A is elected, the Contract's Cash Value, less any tax charge which may be imposed, will be applied to provide an annuity or any other option previously chosen by the owner and permitted by the Company. If Settlement Option 3 or 3A is elected, the Contract's Fund Value (less any state taxes imposed upon annuitization) will be applied to provide an annuity. A supplementary contract will be issued. That contract will describe the terms of the settlement. No payments may be requested under the Contract's surrender provisions after annuity payments start. No surrender will be permitted except as may be available under the settlement option elected. GUARANTEED MINIMUM ANNUITY PAYMENTS Under Option 3, guaranteed minimum annuity payments are available. If certain conditions are met, a guaranteed minimum value called the "Guaranteed Annuitization Value" may be used to provide annuity payments that are greater than the annuity payments that would be provided by the Fund Value described in the Contract. The Guaranteed Annuitization Value is: . the sum of all Net Purchase Payments made, plus . interest accumulated at an annual rate of 5% (interest is credited from the date we receive the Purchase Payment to the Contract Anniversary prior to the Annuitant's 81st birthday), . reduced proportionately for each partial surrender including any surrender charges and Market Value Adjustments, if applicable. The Guaranteed Annuitization Value provides annuity payments based on the 1983 Table "a", Projection Scale "G" with 3% interest. In no event can the Guaranteed Annuitization Value exceed 200% of: . the Net Purchase Payments made reduced proportionately for each partial surrender, including any surrender charges and any Market Value Adjustments, if applicable, and . less any outstanding debt. To apply the Guaranteed Annuitization Value to provide annuity payments, the following conditions must be met: (1)The Contract must have been in force for at least 7 years. (2)The Annuitant must have attained age 60. (3)The annuitization must be elected within 30 days after a Contract anniversary. (4)Settlement Option 3 or 3A must be elected. (See "Settlement Options"). (5)The entire amount of Guaranteed Annuitization Value must be used to provide annuity payments. Once annuity payments provided by the Guaranteed Annuitization Value begin, no withdrawals may be made. The availability of guaranteed minimum annuity payments under Option 3 or 3A, does not limit the Owner's right to start annuity payments using the Contract's Cash Value or the Contract's Fund Value, as applicable, at any other time as permitted under the Contract. Guaranteed minimum annuity payments are not available under Contracts issued in the state of Washington. ELECTION AND CHANGE OF SETTLEMENT OPTION Instead of being paid in a single sum, you may elect to receive any death or surrender proceeds from the Contract in the form of a settlement option. During the lifetime of the Annuitant and prior to the start of annuity payments, the Owner may elect: . one or more of the settlement options described below, or . another settlement option as may be agreed to by the Company. 40 ANNUITY PROVISIONS The Owner may also change any election while the Annuitant is living if written notice of the change is received by the Company at its Operations Center prior to the start of annuity payments. Depending upon when you purchased your Contract, if no election is in effect on the Annuity Starting Date, either Settlement Option 3 with a 10-year certain or a lump sum payment will be deemed to have been elected. For contracts issued in the State of Texas, if no election is in effect when annuity payments start, Settlement Option 3 with a period certain of 10 years will be considered to have been elected. Settlement options may also be elected by the Owner or the Beneficiary as provided in the Death benefit and Surrender sections of this prospectus. (See "Death benefit" and "Surrenders".) Where applicable, reference should be made to the terms of a particular retirement plan and any applicable legislation for any limitations or restrictions on the options that may be elected. SETTLEMENT OPTIONS Proceeds settled under the settlement options listed below or otherwise currently available will not participate in the investment experience of MONY America Variable Account A. Unless you elect Settlement Option 1, you cannot change settlement options once settlement payments begin. SETTLEMENT OPTION 1 -- INTEREST INCOME: The Company holds the proceeds and credits interest earned on the proceeds at a rate (not less than 2.75% per year) set by the Company each year. This Option will continue until the earlier of the date the payee dies or the date you elect another settlement option. Under certain contracts, this option is not available if the Annuitant is the payee. SETTLEMENT OPTION 2 -- INCOME FOR SPECIFIED PERIOD: Fixed monthly payments for a specified period of time, as elected. The payments may, at the Company's option, be increased by additional interest each year. SETTLEMENT OPTION 3 -- SINGLE LIFE INCOME: Payments for the life of the payee and for a period certain. The period certain may be (a) 0 years, 10 years, or 20 years, or (b) the period required for the total income payments to equal the proceeds (refund period certain). The amount of the income will be determined by the Company on the date the proceeds become payable. SETTLEMENT OPTION 3A -- JOINT LIFE INCOME: Payments during the joint lifetime of the payee and one other person, and during the lifetime of the survivor. The survivor's monthly income may be equal to either (a) the income payable during the joint lifetime or (b) two-thirds of that income, depending on the election made at the time of settlement. If the lesser (two-thirds) amount paid to the survivor is elected, the dollar amount payable while both persons are living will be larger than it would have been if the same amount paid to the survivor had been elected. If a person for whom this option is chosen dies before the first monthly payment is made, the survivor will receive proceeds instead under Settlement Option 3, with 10 years certain. SETTLEMENT OPTION 4 -- INCOME OF SPECIFIED AMOUNT: Income, of an amount chosen, for as long as the proceeds and interest last. The amount chosen to be received as income in each year may not be less than 10 percent of the proceeds settled. Interest will be credited annually on the amount remaining unpaid at a rate determined annually by the Company. This rate will not be less than 2.75% per year. The Contract contains annuity payment rates for Settlement Options 3 and 3A described in this prospectus. The rates show, for each $1,000 applied, the dollar amount of the monthly fixed annuity payment, when this payment is based on minimum guaranteed interest as described in the Contract. The annuity payment rates may vary according to the settlement option elected and the age of the payee. The mortality table used in determining the annuity payment rates for Settlement Options 3 and 3A is the 1983 Table "a" (discrete functions, without projections for future mortality), with 3.50% interest per year. Under Settlement Option 3, if income based on the period certain elected is the same as the income provided by another available period or periods certain, the Company will consider the election to have been made of the longest period certain. In Qualified Plans, settlement options available to Owners may be restricted by the terms of the plans. FREQUENCY OF ANNUITY PAYMENTS At the time the settlement option is chosen, the payee may request that it be paid: . Quarterly; . Semiannually; or . Annually If the payee does not request a particular installment payment schedule, the payments will be made in monthly installments. However, if the net amount available to apply under any settlement option is less than $1,000, the Company has the right to pay such amount in one lump sum. In addition, if the payments provided for would be less than $25, the Company shall have the right to change the frequency of the payments to result in payments of at least $25. ADDITIONAL PROVISIONS The Company may require proof of the age of the Annuitant before making any life annuity payment under the Contract. If the Annuitant's age has been misstated, the amount payable will be the amount that would have been provided under the settlement option at the correct age. Once life income payments begin, any underpayments will be made up in one sum with the next annuity payment. Overpayments will be deducted from the future annuity payments until the total is repaid. The Contract may be required to be returned upon any settlement. Prior to any settlement of a death claim, proof of the Annuitant's death must be submitted to the Company. Where any benefits under the Contract are contingent upon the recipient's being alive on a given date, the Company requires proof satisfactory to it that such condition has been met. The Contracts described in this prospectus contain annuity payment rates that distinguish between men and women. On July 6, 1983, the Supreme Court held in Arizona Governing Committee v. Norris that optional annuity benefits provided under an employer's deferred ANNUITY PROVISIONS 41 compensation plan could not, under Title VII of the Civil Rights Act of 1964, vary between men and women on the basis of sex. Because of this decision, the annuity payment rates that apply to Contracts purchased under an employment-related insurance or benefit program may in some cases not vary on the basis of the Annuitant's sex. Unisex rates to be provided by the Company will apply for Qualified Plans. Employers and employee organizations should consider, in consultation with legal counsel, the impact of Norris , and Title VII, generally and any comparable state laws that may apply, on any employment-related plan for which a Contract may be purchased. The Contract is incontestable from its date of issue. GUARANTEED INTEREST ACCOUNT AT ANNUITIZATION On the Annuity Starting Date, the Contract's Cash Value, including the Cash Value of all Accumulation Periods of the Guaranteed Interest Account with Market Value Adjustment, will be applied to provide an annuity or any other option previously chosen by the Owner and permitted by the Company. No Market Value Adjustment will apply at annuitization if the owner elects Settlement Option 3 or 3A. For more information about annuitization and annuity options, please refer to the Contract. 42 ANNUITY PROVISIONS 11. Other provisions -------------------------------------------------------------------------------- OWNERSHIP The Owner has all rights and may receive all benefits under the Contract. During the lifetime of the Annuitant (and Secondary Annuitant if one has been named), the Owner is the person so designated in the application, unless: (1)A change in Owner is requested, or (2)A Successor Owner becomes the Owner. The Owner may name a Successor Owner or a new Owner at any time. If the Owner dies, the Successor Owner, if living, becomes the Owner. Any request for change must be: (1)Made in writing, and (2)Received at the Company. The change will become effective as of the date the written request is signed. A new choice of Owner or Successor Owner will apply to any payment made or action taken by the Company after the request for the change is received. Owners should consult a competent tax adviser prior to changing Owners. -------------------------------------------------------------------------------- SUCCESSOR OWNER -- The living person who, at the death of the Owner, becomes the new Owner. -------------------------------------------------------------------------------- PROVISION REQUIRED BY SECTION 72(S) OF THE CODE The entire interest under a Non-Qualified Contract must be distributed within five years after the Owner's death if: (1)The Owner dies before the start of annuity payments, and (2)The Owner's spouse is not the Successor Owner as of the date of the Owner's death. Satisfactory proof of death must be provided to the Company. Spousal status is determined under federal law for this purpose. This provision shall not extend the term of the Contract beyond the date when death proceeds become payable. The surrender proceeds may be paid over the life of the Successor Owner if: (1)The Successor Owner is the Beneficiary, and (2)The Successor Owner chooses that option. Payments must begin no later than one year after the date of death. If the Successor Owner is a surviving spouse, then the surviving spouse will be treated as the new Owner of the Contract. Under such circumstances, it is not necessary to surrender the Contract. If the Owner dies on or after annuity payments start, any remaining portion of the proceeds will be distributed using a method that is at least as quick as the one used as of the date of the Owner's death. PROVISION REQUIRED BY SECTION 401(A)(9) OF THE CODE The entire interest of a Qualified Plan participant in the Contract generally will begin to be distributed no later than the required beginning date. For this purpose "Qualified Plans" include those intended to qualify under Sections 401 and 408 of the Code. Distribution will occur either by or beginning not later than April 1st of the calendar year following the calendar year the Qualified Plan Participant attains age 701/2. The interest is distributed: (1)Over the life of such Participant, or (2)The lives of such Participant and designated Beneficiary. If (i) required minimum distributions have begun, and (ii) the Participant dies before the Owner's entire interest has been distributed to him/her, the remaining distributions will be made using a method that is at least as rapid as that used as of the date of the Participant's death. The Contract generally will be surrendered as of the Participant's death if: (1)The Participant dies before the start of such distributions, and (2)There is no designated Beneficiary. The surrender proceeds generally must be distributed within 5 years after the date of death. But, the surrender proceeds may be paid over the life of any designated Beneficiary at his/her option. In such case, distributions will begin not later than one year after the December 31st following the Participant's death. If the designated Beneficiary is the surviving spouse (as defined by federal law) of the Participant, distributions will begin not earlier than the December 31st following the date on which the participant would have attained age 70 1/2. If the surviving spouse dies before distributions to him/her begin, the provisions of this paragraph shall be applied as if the surviving spouse were the Participant. If the Qualified Plan is an IRA under Section 408 of the Code, the surviving spouse may elect to forgo distribution and treat the IRA as his/her own plan. Although the lifetime required minimum distribution rules do not apply to Roth IRAs under Section 408A of the Code, the post-death distribution rules apply. It is the Owner's responsibility to assure that distribution rules imposed by the Code will be met. The Owner should consider the effect of recent revisions to the distribution rules which could increase the minimum distribution amount required from annuity contracts funding Qualified Plans where certain additional benefits are purchased under the Contract. For this purpose additional annuity contract benefits may include, but are not limited to, guaranteed minimum income benefits and enhanced death benefits. The Owner may want to consult a tax advisor concerning the potential application of these complex rules before purchasing this annuity Contract, purchasing additional features under this annuity Contract or making additional Purchase Payments under this annuity Contract. OTHER PROVISIONS 43 SECONDARY ANNUITANT Except where the Contract is issued in connection with a Qualified Plan, a Secondary Annuitant may be designated by the Owner. Such designation may be made only once before annuitization, either: (1)In the application for the Contract, or (2)After the Contract is issued, by written notice to the Company at its Operations Center. You cannot change the Secondary Annuitant, but you can delete the Secondary Annuitant. The Secondary Annuitant may be deleted by written notice to the Company at its Operations Center. A designation or deletion of a Secondary Annuitant will take effect as of the date the written election was signed. The Company, however, must first accept and record the change at its Operations Center. The change will be subject to: (1)Any payment made by the Company, or (2)Action taken by the Company before the receipt of the notice at the Company's Operations Center. The Secondary Annuitant will be deleted from the Contract automatically by the Company as of the Contract Anniversary following the Secondary Annuitant's 95th birthday. On the death of the Annuitant, the Secondary Annuitant will become the Annuitant, under the following conditions: (1)The death of the Annuitant must have occurred before the Annuity Starting Date; (2)The Secondary Annuitant is living on the date of the Annuitant's death; (3)If the Annuitant was the Owner on the date of death, the Successor Owner must have been the Annuitant's spouse (as defined by federal law); and (4)If the date annuity payments start is later than the Contract Anniversary nearest the Secondary Annuitant's 95th birthday, the date annuity payments start will be automatically advanced to that Contract Anniversary. EFFECT OF SECONDARY ANNUITANT'S BECOMING THE ANNUITANT. If the Secondary Annuitant becomes the Annuitant, the Death Benefit proceeds will be paid to the Beneficiary only on the death of the Secondary Annuitant. If the Secondary Annuitant was the Beneficiary on the Annuitant's death, the Beneficiary will be automatically changed to the person who was the successor Beneficiary on the date of death. If there was no successor Beneficiary, then the Secondary Annuitant's executors or administrators, unless the Owner directed otherwise, will become the Beneficiary. All other rights and benefits under the Contract will continue in effect during the lifetime of the Secondary Annuitant as if the Secondary Annuitant were the Annuitant. ASSIGNMENT The Owner may assign the Contract. However, the Company will not be bound by any assignment until the assignment (or a copy) is received by the Company at its Operations Center. The Company is not responsible for determining the validity or effect of any assignment. The Company shall not be liable for any payment or other settlement made by the Company before receipt of the assignment. If the Contract is issued under certain retirement plans, then it may not be assigned, pledged or otherwise transferred except under conditions allowed under applicable law. Because an assignment may be a taxable event, an Owner should consult a competent tax advisor before assigning the Contract. CHANGE OF BENEFICIARY So long as the Annuitant is living, the Owner may change the Beneficiary or successor Beneficiary. A change is made by submitting a written request to the Company at its Operations Center. The form of the request must be acceptable to the Company. The Contract need not be returned unless requested by the Company. The change will take effect as of the date the request is signed. The Company will not, however, be liable for any payment made or action taken before receipt of the request at its Operations Center. SUBSTITUTION OF SECURITIES The Company may substitute shares of another mutual fund for shares of the Funds already purchased or to be purchased in the future by Contract Purchase Payments if: (1)The shares of any portfolio of the Funds is no longer available for investment by MONY America Variable Account A, or (2)In the judgment of the Company's Board of Directors, further investment in shares of one or more of the portfolios of the Funds is inappropriate based on the purposes of the Contract. The new portfolios may have higher fees and charges than the ones they replaced, and not all portfolios may be available to all classes of contracts. We will notify you before we substitute securities in any subaccount, and, to the extent required by law, we will obtain prior approval from the Securities and Exchange Commission and the Arizona Insurance Department. We also will obtain any other required approvals. (See "Who is MONY Life Insurance Company of America -- MONY America Variable Account A" for more information about changes we may make to the subaccounts). CHANGES TO CONTRACTS The Company reserves the right, subject to compliance with laws that apply, to unilaterally change your Contract in order to comply with any applicable laws and regulations, including but not limited to changes in the Internal Revenue Code, in Treasury regulations or in published rulings of the Internal Revenue Service, ERISA and in Department of Labor regulations. Any change in the Contract must be in writing and made by our authorized officer. We will provide notice of any contract change. CHANGE IN OPERATION OF MONY AMERICA VARIABLE ACCOUNT A To the extent permitted by applicable law, MONY America Variable Account A (i) may be operated as a management company under the 1940 Act, (ii) may be deregistered under the 1940 Act in the event the registration is no longer required, or (iii) may be combined with any of our other MONY America separate accounts. 44 OTHER PROVISIONS Deregistration of MONY America Variable Account A requires an order by the Securities and Exchange Commission. If there is a change in the operation of MONY America Variable Account A under this provision, the Company may make appropriate endorsement to the Contract to reflect the change and take such other action as may be necessary and appropriate to effect the change. OTHER PROVISIONS 45 12. Voting rights -------------------------------------------------------------------------------- All of the assets held in the subaccounts of MONY America Variable Account A will be invested in shares of the designated portfolios of the Funds. The Company is the legal holder of these shares. To the extent required by law, the Company will vote the shares of each of the Funds held in MONY America Variable Account A (whether or not attributable to Owners). We will determine the number of votes which you have the right to cast by applying your percentage interest in a subaccount to the total number of votes attributable to that subaccount. In determining the number of votes, we will recognize fractional shares. We will vote portfolio shares of a class held in a subaccount for which we received no timely instructions in proportion to the voting instructions which we received for all contracts participating in that subaccount. We will apply voting instructions to abstain on any item to be voted on a pro rata basis to reduce the number of votes eligible to be cast. Whenever a Fund calls a shareholders meeting, each person having a voting interest in a subaccount will receive proxy voting material, reports, and other materials relating to the relevant portfolio. Since each Fund may engage in shared funding, other persons or entities besides the Company may vote Fund shares. 46 VOTING RIGHTS 13. Distribution of the Contracts -------------------------------------------------------------------------------- The contracts are distributed by both AXA Advisors, LLC ("AXA Advisors") and AXA Distributors, LLC ("AXA Distributors") (together, the "Distributors"). The Distributors serve as principal underwriters of MONY America Variable Account A. The offering of the Contracts is intended to be continuous. AXA Advisors is an affiliate of the Company, and AXA Distributors is an indirect wholly owned subsidiary of the Company. The Distributors are under the common control of AXA Financial, Inc. Their principal business address is 1290 Avenue of the Americas, New York, NY 10104. The Distributors are registered with the SEC as broker-dealers and are members of the Financial Industry Regulatory Authority, Inc. ("FINRA"). Both broker-dealers also act as distributors for the Company's life and annuity products. The Contracts are sold by financial professionals of AXA Advisors and its affiliates. The Contracts are also sold by financial professionals of unaffiliated broker-dealers that have entered into selling agreements with the Distributors ("Selling broker-dealers"). The Company pays compensation to both Distributors based on contracts sold. The Company may also make additional payments to the Distributors, and the Distributors may, in turn, make additional payments to certain Selling broker-dealers. All payments will be in compliance with all applicable FINRA rules and other laws and regulations. Although the Company takes into account all of its distribution and other costs in establishing the level of fees and charges under its Contracts, none of the compensation paid to the Distributors or the Selling broker-dealers discussed in this section of the prospectus are imposed as separate fees or charges under your Contract. The Company, however, intends to recoup amounts it pays for distribution and other services through the fees and charges of the Contract and payments it receives for providing administrative, distribution and other services to the Portfolios. For information about the fees and charges under the Contract, see "Summary of the Contract" and "Charges and deductions" earlier in this prospectus. COMPENSATION PAID TO THE DISTRIBUTORS The Company pays compensation to the Distributors based on Purchase Payments made on the Contracts sold through the Distributors ("contribution-based compensation"). The contribution-based compensation will generally not exceed 6.50% of total Purchase Payments made under the Contracts, plus, starting in the second Contract Year, up to 0.25% of the cash value of the Contracts ("asset-based compensation"). The Distributors, in turn, may pay a portion of the compensation received from the Company to the Distributors financial professional and/or the Selling broker-dealer making the sale. The compensation paid by the Distributors varies among financial professionals and among Selling broker-dealers. The Distributors also pay a portion of the compensation it receives to its managerial personnel. When a Contract is sold by a Selling broker-dealer, the Selling broker-dealer, not the Distributors, determines the amount and type of compensation paid to the Selling broker-dealer's financial professional for the sale of the Contract. Therefore, you should contact your financial professional for information about the compensation he or she receives and any related incentives, as described below. AXA Advisors also pays its financial professionals and managerial personnel other types of compensation including service fees, expense allowance payments and health and retirement benefits. AXA Advisors also pays its financial professionals, managerial personnel and Selling broker-dealers sales bonuses (based on selling certain products during specified periods) and persistency bonuses. AXA Advisors may offer sales incentive programs to financial professionals and Selling broker-dealers who meet specified production levels for the sales of both the Company's Contracts and Contracts offered by other companies. These incentives provide non-cash compensation such as stock options awards and/or stock appreciation rights, expense-paid trips, expense-paid education seminars and merchandise. The Company also pays AXA Distributors compensation to cover its operating expenses and marketing services under the terms of the Company's distribution agreements with AXA Distributors. DIFFERENTIAL COMPENSATION PAID BY AXA ADVISORS. In an effort to promote the sale of the Company's products, AXA Advisors may pay its financial professionals and managerial personnel a greater percentage of contribution-based compensation and/or asset-based compensation for the sale of the Company's contract than it pays for the sale of a Contract or other financial product issued by a company other than the Company. This practice is known as providing "differential compensation." Differential compensation may involve other forms of compensation to AXA Advisors personnel. Certain components of the compensation paid to managerial personnel are based on whether the sales involve the Company's Contracts. Managers earn higher compensation (and credits toward awards and bonuses) if the financial professionals they manage sell a higher percentage of the Company's Contracts than products issued by other companies. Other forms of compensation provided to its financial professionals include health and retirement benefits, expense reimbursements, marketing allowances and contribution-based payments, known as "overrides." For tax reasons, AXA Advisors financial professionals qualify for health and retirement benefits based solely on their sales of the Company's Contracts and products sponsored by affiliates. The fact that AXA Advisors financial professionals receive differential compensation and additional payments may provide an incentive for those financial professionals to recommend the Company's Contract over a Contract or other financial product issued by a company not affiliated with the Company. However, under applicable rules of FINRA, AXA Advisors financial professionals may only recommend to you products that they reasonably believe are suitable for you based on the facts that you have disclosed as to your other security holdings, financial situation and needs. In making any recommendation, financial professionals of AXA Advisors may nonetheless face conflicts of interest because of the differences in compensation from one DISTRIBUTION OF THE CONTRACTS 47 product category to another, and because of differences in compensation among products in the same category. For more information, contact your financial professional. ADDITIONAL PAYMENTS BY AXA DISTRIBUTORS TO SELLING BROKER-DEALERS. AXA Distributors may pay, out of its assets, certain Selling broker-dealers and other financial intermediaries additional compensation in recognition of services provided or expenses incurred. AXA Distributors may also pay certain Selling broker-dealers or other financial intermediaries additional compensation for enhanced marketing opportunities and other services (commonly referred to as "marketing allowances"). Services for which such payments are made may include, but are not limited to, the preferred placement of the Company's products on a company and/or product list; sales personnel training; product training; business reporting; technological support; due diligence and related costs; advertising, marketing and related services; conference; and/or other support services, including some that may benefit the contract owner. Payments may be based on the aggregate account value attributable to contracts sold through a Selling broker-dealer or such payments may be a fixed amount. AXA Distributors may also make fixed payments to Selling broker-dealers, for example in connection with the initiation of a new relationship or the introduction of a new product. Additionally, as an incentive for the financial professionals of Selling broker-dealers to promote the sale of the Company's products, AXA Distributors may increase the sales compensation paid to the Selling broker-dealer for a period of time (commonly referred to as "compensation enhancements"). These additional payments may serve as an incentive for Selling broker-dealers to promote the sale of the Company contracts over contracts and other products issued by other companies. Not all Selling broker-dealers receive additional payments, and the payments vary among Selling broker-dealers. The list below includes the names of Selling broker-dealers that we are aware (as of December 31, 2011) received additional payments. These additional payments ranged from $81 to $4,973,724. The Company and its affiliates may also have other business relationships with Selling broker-dealers, which may provide an incentive for the Selling broker-dealers to promote the sale of the Company's contracts over contracts and other products issued by other companies. The list below includes any such Selling broker-dealer. For more information, ask your financial professional. 1st Global Capital Corporation Advantage Capital Corporation A.G. Edwards American Portfolios Financial Services Ameriprise Financial Services, Inc. Associated Securities Corp. Bank of America BBVA Compass Investment Solutions, Inc. CCO Investment Services Corp. Centaurus Financial, Inc. Commonwealth Financial Network CUSO Financial Services, L.P. Essex National Securities Inc. Financial Network Investment Corporation First Allied Securities First Citizens Investor Services, Inc. First Tennessee Brokerage, Inc. FSC Securities Corporation Geneos Wealth Management, Inc. H.D. Vest Investment Securities, Inc. Investment Centers of America/First Dakota Inc. IFC Holdings Inc. DBA Invest Financial Corporation Investment Professionals, Inc. Investors Capital Corporation J.P. Turner & Company, LLC James T. Borello & Co. Janney Montgomery Scott, LLC Key Investment Services, LLC Lincoln Financial Advisors Corporation Lincoln Financial Securities Corporation LPL Financial Corporation M&T Securities, Inc. Merrill Lynch Life Agency Inc. Morgan Keegan & Co., Inc. Morgan Stanley Smith Barney - Morgan Stanley & Co., Incorporated Multi-Financial Securities Corporation National Planning Corporation Next Financial Group, Inc. NFP Securities, Inc. Plan Member Financial Corporation PNC Investments Prime Capital Services PrimeVest Financial Services, Inc. Raymond James & Associates Inc Raymond James Financial Services RBC Capital Markets Corp. Robert W Baird & Co. Royal Alliance Associates Inc. Sage Point Financial, Inc Securities America, Inc. SII Investments, Inc. Sorrento Pacific Financial, LLC Stifel, Nicolaus & Co. Summit Brokerage Services, Inc Termed/Mutual Service Corporation Transamerica Financial Advisors, Inc. U.S. Bancorp Investments, Inc. UBS Financial Services, Inc. UVEST Financial Services Group, Inc. Waterstone Financial Group, Inc. Wells Fargo Advisors Financial Network LLC Wells Fargo Advisors Wells Fargo Advisors, LLC Wells Fargo Investments, LLC 48 DISTRIBUTION OF THE CONTRACTS 14. Federal tax status -------------------------------------------------------------------------------- INTRODUCTION The Contract described in this prospectus is designed for use in connection with Qualified Plans and on a nonqualified basis. The ultimate effect of federal income taxes on: . the value of the Contract's Fund Value, . annuity payments, . death benefit, and . economic benefit to the Owner, Annuitant, and the Beneficiary may depend upon . the type of retirement plan for which the Contract is purchased, and . the tax and employment status of the individual concerned. The following discussion of the treatment of the Contract and of the Company under the federal income tax laws is general in nature. The discussion is based on the Company's understanding of current federal income tax laws, and is not intended as tax advice. These federal income tax laws may change without notice. We cannot predict whether, when, or how these rules could change. Any change could affect contracts purchased before the change. Congress may also consider proposals in the future to comprehensively reform or overhaul the United States tax and retirement systems, which if enacted, could affect the tax benefits of a contract. We cannot predict what, if any, legislation will actually be proposed or enacted. Any person considering the purchase of a contract or making additional Purchase Payments under the Contract should consult a qualified tax adviser. Additional information on the treatment of the Contract under federal income tax laws is contained in the Statement of Additional Information. THE COMPANY DOES NOT MAKE ANY GUARANTEE REGARDING ANY TAX STATUS, FEDERAL, STATE, OR LOCAL, OF ANY CONTRACT OR ANY TRANSACTION INVOLVING THE CONTRACT. CIVIL UNIONS The determination of spousal status is made under applicable state law. Certain states provide that for purposes of insurance laws, policies, eligibility and benefits, a spouse in a civil union and a spouse in a marriage are to be treated identically. Such laws typically provide that a party to a civil union shall be included in any definition or use of the terms "spouse," "family," "immediate family," "dependent," "next of kin," and other terms descriptive of spousal relationships as those terms are used throughout state law. This includes the terms "marriage" or "married" or variations thereon. While civil union spouses are afforded the same rights as married spouses under state law and while an employer's plan may provide for certain benefits, tax-related advantages are derived from federal tax law. State law does not and cannot alter federal law. The federal Defense of Marriage Act excludes civil unions and civil union partners from the meaning of the word "marriage" or "spouse" in all federal laws. Therefore, a civil union spouse does not qualify for the same tax advantages provided to a married spouse under federal law, including the tax benefits afforded to the surviving spouse of an owner of an annuity contract or any rights under specified tax-favored savings or retirement plans or arrangements. TAXATION OF ANNUITIES IN GENERAL The Contract described in this prospectus is designed for use in connection with Qualified Plans and on a nonqualified basis. All or a portion of the contributions to such plans will be used to make Purchase Payments under the Contract. In general, contributions to Qualified Plans and income earned on contributions to all plans are tax-deferred until distributed to plan participants or their beneficiaries. Such tax deferral is not, however, available for Non-Qualified Contracts if the Owner is other than a natural person unless the contract is held as an agent for a natural person. Annuity payments made under a contract are generally taxable to the Annuitant as ordinary income except to the extent of: . participant after-tax contributions (in the case of Qualified Plans), or . owner contributions (in the case of Non-Qualified Contracts). Owners, Annuitants, and Beneficiaries should seek advice from their own tax advisers about the tax consequences of distributions, withdrawals and payments under Non-Qualified Contracts and under any Qualified Plan in connection with which the Contract is purchased. For Qualified Contracts, among other things individuals should discuss with their tax advisers are the "required minimum distribution rules" which generally require distributions to be made after age 70 1/2 and after death, including requirements applicable to the calculation of such required distributions from annuity contracts funding Qualified Plans. Federal tax law imposes requirements for determining the amount includable in gross income with respect to distributions not received as an annuity. Distributions include, but are not limited to, transfers, including gratuitous transfers, and pledges of the contract both of which are treated the same as distributions. Distributions from all annuity contracts issued during any calendar year by the same company (or an affiliate) to the Owner (other than those issued to qualified retirement plans) in the same year will be treated as distributed from one annuity contract. The IRS is given power to prescribe additional rules to prevent avoidance of this rule through serial purchases of contracts or otherwise. None of these rules affects Qualified Plans. The Company will withhold and remit to the United States Government and, where applicable, to state and local governments, part of the taxable portion of each distribution made under a contract unless the Owner or Annuitant: (1)Provides his or her taxpayer identification number to the Company, and (2)Notifies the Company that he or she chooses not to have amounts withheld. FEDERAL TAX STATUS 49 Distributions of plan benefits from qualified retirement plans, other than traditional individual retirement arrangements ("traditional IRAs"), generally will be subject to mandatory federal income tax withholding unless they are: (1)Part of a series of substantially equal periodic payments (at least annually) for: (a)the participant's life or life expectancy, (b)the joint lives or life expectancies of the participant and his/ her beneficiary, (c)or a period certain of not less than 10 years; (2)Required minimum distributions; or (3)Qualifying hardship distributions. The withholding can be avoided if the participant's interest is directly rolled over by the old plan to another eligible traditional retirement plan, including an IRA. A direct rollover to the new plan can be made only in accordance with the terms of the old plan. The Company may be liable for payment of the generation skipping transfer tax under certain circumstances. In the event that the Company determines that such liability exists, an amount necessary to pay the generation skipping transfer tax may be subtracted from the death benefit proceeds. RETIREMENT PLANS Aside from Contracts purchased on a non-qualified basis, the Contract described in this prospectus currently is designed for use with the following types of retirement plans: (1)Pension and Profit Sharing Plans established by business employers and certain associations, as permitted by Sections 401(a) and 401(k) of the Code, including those purchasers who would have been covered under the rules governing H.R. 10 (Keogh) Plans; (2)Individual Retirement Annuities permitted by Section 408(b) of the Code, including Simplified Employee Pensions established by employers pursuant to Section 408(k); (3)Roth IRAs permitted by Section 408A of the Code; and (4)Deferred compensation plans provided by certain governmental entities and tax-exempt organizations under Section 457. The tax rules applicable to participants in such retirement plans vary according to the type of plan and its terms and conditions. Therefore, no attempt is made here to provide more than general information about the use of the Contract with the various types of retirement plans. Participants in such plans as well as Owners, Annuitants, and Beneficiaries are cautioned that the rights of any person to any benefits under these plans are subject to the terms and conditions of the plans themselves, regardless of the terms and conditions of the Contract. The Company will provide purchasers of Contracts used in connection with Individual Retirement Annuities with such supplementary information as may be required by the Internal Revenue Service or other appropriate agency. Any person contemplating the purchase of a Contract should consult a qualified tax adviser. TAX TREATMENT OF THE COMPANY Under existing federal income tax laws, the income of MONY America Variable Account A, to the extent that it is applied to increase reserves under the Contract, is substantially nontaxable to the Company. The Company is entitled to certain tax benefits related to the investment of company assets, including assets of the separate accounts. These tax benefits, which may include the foreign tax credit and the corporate dividends received deduction, are not passed back to you, since the Company is the owner of the assets from which tax benefits may be derived. 50 FEDERAL TAX STATUS 15. Additional information and incorporation of certain information by reference -------------------------------------------------------------------------------- This prospectus does not contain all the information set forth in the registration statement, certain portions of which have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission (the ''SEC''). The SEC allows us to "incorporate by reference" information that we file with the SEC into this prospectus, which means that incorporated documents are considered part of this prospectus. We can disclose important information to you by referring you to those documents. This prospectus incorporates by reference our annual report on Form 10-K for the year ended December 31, 2011. Please refer to Form 10-K for a description of the Company and its business, including financial statements. The Company intends to send Owners account statements and other such legally-required reports. The Company does not anticipate such reports will include periodic financial statements or information concerning the Company. The SEC adopted rule 12h-7 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which became effective May 1, 2009. Rule 12h-7 exempts an insurance company from filing reports under the Exchange Act when the insurance company issues certain types of insurance products that are registered under the Securities Act of 1933 and such products are regulated under state law. The units of the Guaranteed Interest Account with Market Value Adjustment described in this prospectus fall within the exemption provided under rule 12h-7. The Company is hereby providing notice that it is electing to rely on the exemption provided under rule 12h-7 effective May 1, 2012 or as soon as possible thereafter, and will be suspending filing reports under the Exchange Act. The Company files reports and other information with the SEC, as required by law. You may read and copy this information at the SEC's public reference facilities at Room 1580, 100 F Street, NE, Washington, DC 20549, or by accessing the SEC's website at www.sec.gov. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. Under the Securities Act of 1933, the Company has filed with the SEC a registration statement relating to the Guaranteed Interest Account with Market Value Adjustment (the ''Registration Statement''). This prospectus has been filed as part of the Registration Statement and does not contain all of the information set forth in the Registration Statement. Any statement contained in a document that is, or becomes part of this prospectus, will be considered changed or replaced for purposes of this prospectus if a statement contained in this prospectus changes or is replaced. Any statement that is considered to be a part of this prospectus because of its incorporation will be considered changed or replaced for the purpose of this prospectus if a statement contained in any other subsequently filed document that is considered to be part of this prospectus changes or replaces that statement. After that, only the statement that is changed or replaced will be considered to be part of this prospectus. We filed the Registration Statement and our Exchange Act documents and reports electronically according to EDGAR under CIK No. 0000835357. The SEC maintains a Web site that contains reports, proxy and information statements, and other information regarding registrants that file electronically with the SEC. The address of the site is www.sec.gov. Upon written or oral request, we will provide, free of charge, to each person to whom this prospectus is delivered, a copy of any or all of the documents considered to be part of this prospectus because they are incorporated herein. In accordance with SEC rules, we will provide copies of any exhibits specifically incorporated by reference into the text of the Exchange Act reports (but not any other exhibits). Requests for documents should be directed to MONY Life Insurance Company of America, 1290 Avenue of the Americas, New York, New York 10104, Attention: Corporate Secretary (telephone: (212) 554-1234). You can access our website at www.axa-equitable.com. ADDITIONAL INFORMATION AND INCORPORATION OF CERTAIN INFORMATION BY REFERENCE 51
16. Legal proceedings -------------------------------------------------------------------------------- MONY Life Insurance Company of America and its affiliates are parties to various legal proceedings. In our view, none of these proceedings would be considered material with respect to an Owner's interest in MONY America Variable Account A, nor would any of these proceedings be likely to have a material adverse effect upon MONY America Variable Account A, our ability to meet our obligations under the contracts, or the distribution of the contracts. 52 LEGAL PROCEEDINGS 17. Financial statements -------------------------------------------------------------------------------- The audited financial statements of MONY America Variable Account A and the Company are set forth in the Statement of Additional Information. These financial statements have been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm. The financial statements of the Company should be considered only as bearing upon the ability of the Company to meet its obligations under the Contracts. You should not consider the financial statements of the Company as affecting investment performance of assets in the Variable Account. PricewaterhouseCoopers LLP also provides independent audit services and certain other non-audit services to the Company as permitted by the applicable SEC independence rules, and as disclosed in the Company's Form 10-K. PricewaterhouseCoopers LLP's address is 300 Madison Avenue, New York, New York 10017. ABOUT THE GENERAL ACCOUNT This Contract was offered to customers through various financial institutions, brokerage firms and their affiliate insurance agencies. No financial institution, brokerage firm or insurance agency has any liability with respect to a Contract's account value or any guaranteed benefits with which the Contract was issued. The Company is solely responsible to the Contract owner for the Contract's account value and such guaranteed benefits. The general obligations and any guaranteed benefits under the Contract are supported by the Company's general account and are subject to the Company's claims paying ability. An owner should look to the financial strength of the Company for its claims-paying ability. Assets in the general account are not segregated for the exclusive benefit of any particular Contract or obligation. General account assets are also available to the insurer's general creditors and the conduct of its routine business activities, such as the payment of salaries, rent and other ordinary business expenses. For more information about the Company's financial strength, you may review its financial statements and/or check its current rating with one or more of the independent sources that rate insurance companies for their financial strength and stability. Such ratings are subject to change and have no bearing on the performance of the variable investment options. You may also speak with your financial representative. The general account is subject to regulation and supervision by the Insurance Department of the State of Arizona and to the insurance laws and regulations of all jurisdictions where we are authorized to do business. Interests under the contracts in the general account have not been registered and are not required to be registered under the Securities Act of 1933 because of exemptions and exclusionary provisions that apply. The general account is not required to register as an investment company under the Investment Company Act of 1940 and it is not registered as an investment company under the Investment Company Act of 1940. The contract is a "covered security" under the federal securities laws. We have been advised that the staff of the SEC has not reviewed the portions of this prospectus that relate to the general account. The disclosure with regard to the general account, however, may be subject to certain provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses. FINANCIAL STATEMENTS 53 Appendix I: Benefit option packages, table of fees, examples and charges and deductions for contracts issued in the State of Washington -------------------------------------------------------------------------------- SUMMARY OF THE CONTRACT BENEFIT OPTION PACKAGES There are two benefit option packages under the Contract. Each benefit option package is distinct. You select a benefit option package at the time of application. Once a selection is made, you may not transfer from one benefit option package to another. ------------------------------------------------------------------------------- OPTION 1 OPTION 2 ------------------------------------------------------------------------------- MORTALITY AND EXPENSE RISK Current annual rate -- Current annual rate -- CHARGE 1.20% 1.70% Maximum annual rate -- Maximum annual rate -- 1.40% 1.95% ------------------------------------------------------------------------------- DEATH BENEFIT ON DEATH OF THE GREATER OF: THE GREATEST OF: ANNUITANT (1)The Fund Value less (1)The Fund Value less any outstanding debt any outstanding debt on the date due proof on the date due proof of the Annui- tant's of the Annuitant's death is received by death is received by the Company. the Company. or or (2)The Purchase Payments (2)The Purchase Payments paid, reduced paid, reduced proportionately by proportionately by each partial each partial surrender (reflecting surrender (reflecting any Market Value any Market Value Adjustment and any Adjustment and any surrender charge) and surrender charge) and less any outstanding less any outstanding debt./(1)/ debt./(1)/ or (3)Step Up Value (See "Death benefit") ------------------------------------------------------------------------------- MINIMUM INITIAL PURCHASE Qualified Contracts -- Qualified Contracts -- PAYMENT The minimum Purchase The minimum Purchase Payment for qualified Payment for qualified plans is the same for plans is the same for both options. (See both options. (See "Detailed information "Detailed information about the contract.") about the contract.") Non-Qualified Non-Qualified Contracts -- $5,000 Contracts -- $10,000 ------------------------------------------------------------------------------- ANNUITANT ISSUE AGE Qualified Contracts -- Qualified Contracts -- 0-80 0-79 Non-Qualified Contracts Non-Qualified Contracts -- 0-80 -- 0-79 ------------------------------------------------------------------------------- ANNUAL CONTRACT CHARGE Current charge is $30. Current charge is $0. The annual contract charge may be increased to a maximum of $30 on 30 days written notice. ------------------------------------------------------------------------------- (1)In the calculation of the death benefit, for each partial surrender, the proportionate reduction is equal to the amount of that partial surrender and any surrender charge and any Market Value Adjustment divided by the Fund Value immediately before that partial surrender, multiplied by the Purchase Payments paid before that partial surrender. For certain Contracts purchased prior to July 22, 2003, the death benefit is greater of: (1) the Fund Value less any outstanding debt on the date due proof of the Annuitant's death is received by the Company, or (2) the Purchase Payments paid, less any partial surrenders and their surrender charges, less any outstanding debt and plus or minus any Market Value Adjustment. APPENDIX I: BENEFIT OPTION PACKAGES, TABLE OF FEES, I-1 EXAMPLES AND CHARGES AND DEDUCTIONS FEE TABLES The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering the Contract. The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender the Contract, or transfer fund value between investment options. State premium taxes may also be deducted. ------------------------------------------------------------------- OWNER TRANSACTION EXPENSES: ------------------------------------------------------------------- Maximum deferred sales load (surrender charge) (as a percentage of Purchase Payments surrendered) 7.00%/(1)/ ------------------------------------------------------------------- Loan interest spread (effective annual rate) 2.50%/(2)/ ------------------------------------------------------------------- Maximum transfer charge $25/(3)/ -------------------------------------------------------------------
The next table describes the fees and expense that you will pay periodically during the time that you own the Contract, not including Fund portfolio company fees and expenses. ------------------------------------------------------------------- MAXIMUM ANNUAL CONTRACT CHARGE $30/(4)/ ------------------------------------------------------------------- SEPARATE ACCOUNT ANNUAL EXPENSES: (AS A PERCENTAGE OF AVERAGE ANNUAL FUND VALUE IN THE VARIABLE ACCOUNT): ------------------------------------------------------------------- OPTION 1 ------------------------------------------------------------------- Maximum mortality and expense risk fees 1.40%/(5)/ ------------------------------------------------------------------- Total Separate Account Annual expenses 1.40%/(5)/ ------------------------------------------------------------------- OPTION 2 ------------------------------------------------------------------- Maximum mortality and expense risk fees 1.95%/(6)/ ------------------------------------------------------------------- Total Separate Account Annual expenses 1.95%/(6)/ -------------------------------------------------------------------
(1)The surrender charge percentage, which reduces to zero, is determined under a surrender charge schedule. (See "Deductions from fund value -- Amount of surrender charge.") The surrender charge may be reduced under certain circumstances which include reduction in order to guarantee that certain amounts may be received free of the surrender charge. (See "Deductions from fund value -- Free partial surrender amount.") (2)The loan interest spread is the difference between the amount of interest we charge on loans and the amount of interest we credit to amounts held in the loan account to secure loans. (3)The transfer charge currently is $0. However, the Company has reserved the right to impose a charge for each transfer after the first 12 transfers in a Contract Year, which will not exceed $25. (See "Deductions from fund value -- Transfer charge.") (4)The annual contract charge for Option 1 is currently $30. The annual contract charge for Option 2 is currently $0. However, the Company may in the future change the amount of the charge to an amount not exceeding $30 per Contract Year. (See "Deductions from fund value -- Annual contract charge.") (5)The mortality and expense risk charge is deducted daily equivalent to a current annual rate of 1.20% (and is guaranteed not to exceed a daily rate equivalent to an annual rate of 1.40%) from the value of the net assets of MONY America Variable Account A. (6)The mortality and expense risk charge is deducted daily equivalent to a current annual rate of 1.70% (and is guaranteed not to exceed a daily rate equivalent to an annual rate of 1.95%) from the value of the net assets of MONY America Variable Account A. The next item shows the minimum and maximum total operating expenses charged by the portfolio companies for the year ended December 31, 2011. You may pay portfolio company operating expenses periodically during the time that you own the Contract. More detail concerning each Fund portfolio company's fees and expenses is contained in the prospectus for each portfolio. -------------------------------------------------- TOTAL ANNUAL FUND PORTFOLIO OPERATING EXPENSES: -------------------------------------------------- Expenses that are deducted from portfolio company assets, including Lowest Highest management fees, distribution and/or services fees (12b-1 fees), and 0.62% 1.71% other expenses ------------------------------------------------------------------------------------
APPENDIX I: BENEFIT OPTION PACKAGES, TABLE OF FEES, EXAMPLES AND CHARGES AND DEDUCTIONS I-2 EXAMPLE This example is intended to help you compare the cost of investing in the Contract with the cost of investing in other variable annuity contracts. These costs include contract owner transaction expenses, contract fees, separate account annual expense, and Fund fees and expenses for the year ended December 31, 2011. The example assumes that you invest $10,000 in the Contract for the time periods indicated. The example also assumes that your investment has a 5% return each year. The example assumes the minimum and maximum fees and expenses of any of the Fund portfolios. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: 1. a.If you surrender your Contract at the end of the applicable time period (assuming maximum fees and expenses of any of the Fund portfolios):
----------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------- Option 1 $984 $1,615 $2,262 $3,694 Option 2 $1,035 $1,764 $2,507 $4,172 -----------------------------------------
b.If you surrender your Contract at the end of the applicable time period (assuming minimum fees and expenses of any of the Fund portfolios):
----------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------- Option 1 $882 $1,311 $1,755 $2,656 Option 2 $933 $1,465 $2,015 $3,195 -----------------------------------------
2. a.If you do not surrender your Contract (assuming maximum fees and expenses of any of the Fund portfolios):
----------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------- Option 1 $344 $1,048 $1,774 $3,694 Option 2 $398 $1,207 $2,032 $4,172 -----------------------------------------
b.If you do not surrender your Contract (assuming minimum fees and expenses of any of the Fund portfolios):
----------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------- Option 1 $235 $724 $1,240 $2,656 Option 2 $290 $889 $1,513 $3,195 -----------------------------------------
3. a.If you annuitize your Contract and the proceeds are settled under Settlement Options 3 or 3A (life income with annuity options) (assuming maximum fees and expenses of any of the Fund portfolios):
----------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------- Option 1 $984 $1,048 $1,774 $3,694 Option 2 $1,035 $1,207 $2,032 $4,172 -----------------------------------------
b.If you annuitize your Contract and the proceeds are settled under Settlement Options 3 or 3A (life income with annuity options) (assuming minimum fees and expenses of any of the Fund portfolios):
----------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------- Option 1 $882 $724 $1,240 $2,656 Option 2 $933 $889 $1,513 $3,195 -----------------------------------------
4. a.If you annuitize your Contract and the proceeds are settled under Settlement Options 1, 2 or 4 (annuity income without life contingencies) (assuming maximum fees and expenses of any of the Fund portfolios):
----------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------- Option 1 $984 $1,615 $2,262 $3,694 Option 2 $1,035 $1,764 $2,507 $4,172 -----------------------------------------
b.If you annuitize your Contract and the proceeds are settled under Settlement Options 1, 2 or 4 (annuity income without life contingencies) (assuming minimum fees and expenses of any of the Fund portfolios):
----------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------- Option 1 $882 $1,311 $1,755 $2,656 Option 2 $933 $1,465 $2,015 $3,195 -----------------------------------------
APPENDIX I: BENEFIT OPTION PACKAGES, TABLE OF FEES, I-3 EXAMPLES AND CHARGES AND DEDUCTIONS For the purposes of the Fee Tables and the Example, we assume that the Contract is owned during the accumulation period. (See "Charges and Deductions.") On and after the annuity starting date, different fees and charges will apply. DETAILED INFORMATION ABOUT THE CONTRACT PAYMENT AND ALLOCATION OF PURCHASE PAYMENTS Issue ages The issue ages for the two benefit option packages available under the Contract vary as per the table below. The maximum issue age of the Annuitant for Option 1 is 85. The maximum issue age of the Annuitant for Option 2 is 79.
-------------------------------------------------------------------------------- OPTION 1 OPTION 2 -------------------------------------------------------------------------------- Annuitant Issue Ages 0-85 0-79 --------------------------------------------------------------------------------
DEATH BENEFIT DEATH BENEFIT PROVIDED BY THE CONTRACT The death benefit depends upon the benefit option package in effect on the date the Annuitant dies. You may not change benefit option packages once you select an option.
------------------------------------------------------------------------------------------------------------------------------- OPTION 1 OPTION 2 ------------------------------------------------------------------------------------------------------------------------------- THE GREATER OF: THE GREATEST OF: ------------------------------------------------------------------------------------------------------------------------------- (1)The Fund Value less any outstanding debt on the date due (1)The Fund Value less any outstanding debt on the date due proof of the Annuitant's death is received by the proof of the Annuitant's death is received by the Company. Company. or or (2)The Purchase Payments paid, reduced proportionately by (2)The Purchase Payments paid, reduced proportionately by each each partial surrender and their surrender charges, any partial surrender and their surrender charges, less any out- outstanding debt and plus or minus any Market Value standing debt and plus or minus any Market Value Adjustment./(1)/ Adjustment./(1)/ or (3)Step Up Value (See "Step Up Value" in the prospectus) -------------------------------------------------------------------------------------------------------------------------------
(1)In the calculations of the death benefit, for each partial surrender, the proportionate reduction is equal to the amount of that partial surrender and any surrender charge and any Market Value Adjustment divided by the Fund Value immediately before that partial surrender, multiplied by the Purchase Payments paid before that partial surrender. For certain Contracts purchased prior to July 22, 2003, the death benefit is the greater of: (1) the Fund Value less any outstanding debt on the date due proof of the Annuitant's death is received by the Company, or (2) the Purchase Payments paid, less any partial surrenders and their surrender charges, less any outstanding debt and plus or minus any Market Value Adjustment. APPENDIX I: BENEFIT OPTION PACKAGES, TABLE OF FEES, EXAMPLES AND CHARGES AND DEDUCTIONS I-4 CHARGES AND DEDUCTIONS The following table summarizes the charges and deductions under the Contract: ------------------------------------------------------------------------------- DEDUCTIONS FROM PURCHASE PAYMENTS ------------------------------------------------------------------------------- Tax charge Range for State and local premium tax -- 0% to 3.50%/(1)/. Federal -- currently 0% (Company reserves the right to charge in the future.) ------------------------------------------------------------------------------- DAILY DEDUCTIONS FROM MONY AMERICA VARIABLE ACCOUNT A ------------------------------------------------------------------------------- Separate account annual expenses: Option 1 Mortality & expense risk charge Annual rate deducted daily from net Maximum daily rate -- 0.003836% assets Maximum annual rate -- 1.40% Option 2 Maximum daily rate -- 0.005342% Maximum annual rate -- 1.95% ------------------------------------------------------------------------------- DEDUCTIONS FROM FUND VALUE ------------------------------------------------------------------------------- Annual contract charge Maximum annual contract charge Option 1 -- Current charge is $30. Option 1 -- The maximum annual Option 2 -- Current charge is $0. contract charge is $30. Option 2 -- The annual contract charge may be increased to a maximum of $30 on 30 days written notice. ------------------------------------------------------------------------------- Transaction and other charges Maximum transaction and other charges Transfer charge Option 1 -- The Company has reserved Option 1 -- Current charge is $0. the right to impose a charge for each Option 2 -- Current charge is $0. transfer after the first 12 transfers in a Contract Year which will not exceed $25. Option 2 -- The Company has reserved the right to impose a charge for each transfer after the first 12 transfers in a Contract Year which will not exceed $25. ------------------------------------------------------------------------------- Surrender charge See grading schedule and "Charges and Grades from 7% to 0% of Fund Value deductions -- Charges against fund surrendered based on a schedule value" for details of how it is computed. ------------------------------------------------------------------------------- Loan interest spread 2.50% ------------------------------------------------------------------------------- (1)Company currently assumes responsibility; current charge to Owner 0%. Please note that the amount of the charge may not necessarily correspond to the costs associated with providing the services or benefits indicated by the designation of the charge. For example, the surrender charge we collect may not fully cover all of the sales and distribution expenses we actually incur. We also may realize a profit on one or more of the charges. We may use such profits for any corporate purpose, including the payment of sales expenses. DEDUCTIONS FROM PURCHASE PAYMENTS Deductions may be made from Purchase Payments for state and local premium taxes prior to allocation of any Net Purchase Payment among the subaccounts. Currently, the Company makes no deduction, but may do so with respect to future payments. If the Company is going to make deductions for such tax from future Purchase Payments, it will give notice to each affected Owner. CHARGES AGAINST FUND VALUE Daily deduction from MONY America Variable Account A Mortality and expense risk charge. The Company assumes mortality and expense risks. A charge for assuming such risks is deducted daily from the net assets of MONY America Variable Account A. The charge varies based on the benefit option package selected. The mortality and expense risk charge will not be deducted from the Guaranteed Interest Account. Option 1 -- For Option 1, the daily mortality and expense risk charge from MONY America Variable Account A is deducted at a current daily rate equivalent to an annual rate of 1.20% from the value of the net assets of MONY America Variable Account A. The rate is guaranteed not to exceed a daily rate equivalent to an annual rate of 1.40% from the value of the net assets of MONY America Variable Account A. The mortality and expense risk charge is deducted from MONY America Variable Account A, and therefore the subaccounts, on each Business Day. Where the previous day (or days) was not a Business Day, the deduction currently on the next Business Day will be 0.003288% (guaranteed not to exceed 0.003836%) multiplied by the number of days since the last Business Day. APPENDIX I: BENEFIT OPTION PACKAGES, TABLE OF FEES, I-5 EXAMPLES AND CHARGES AND DEDUCTIONS Option 2 -- For Option 2, the daily mortality and expense risk charge from MONY America Variable Account A is deducted at a current daily rate equivalent to an annual rate of 1.70% from the value of the net assets of MONY America Variable Account A. The rate is guaranteed not to exceed a daily rate equivalent to an annual rate of 1.95% from the value of the net assets of MONY America Variable Account A. The mortality and expense risk charge is deducted from MONY America Variable Account A, and therefore the subaccounts, on each Business Day. Where the previous day (or days) was not a Business Day, the deduction currently on the next Business Day will be 0.004658% (guaranteed not to exceed 0.005342%) multiplied by the number of days since the last Business Day. The mortality risk assumed by the Company is that Annuitants may live for a longer time than projected. If that occurs, an aggregate amount of annuity benefits greater than that projected will be payable. In making this projection, the Company has used the mortality rates from the 1983 Table "a" (discrete functions without projections for future mortality), with 3.50% interest. In addition, the Company also assumes risk in connection with the Step-Up Value. The expense risk assumed is that expenses incurred in issuing and administering the Contracts will exceed the expense charges provided in the Contracts. If the amount of the charge exceeds the amount needed, the excess will be kept by the Company in its General Account. If the amount of the charge is inadequate, the Company will pay the difference out of its General Account. DEDUCTIONS FROM FUND VALUE Annual contract charge. The Company has primary responsibility for the administration of the Contract and MONY America Variable Account A. An annual contract charge helps to reimburse the Company for administrative expenses related to the maintenance of the Contract. Ordinary administrative expenses expected to be incurred include premium collection, recordkeeping, processing death benefit claims and surrenders, preparing and mailing reports, and overhead costs. In addition, the Company expects to incur certain additional administrative expenses in connection with the issuance of the Contract, including the review of applications and the establishment of Contract records. The Company intends to administer the Contract itself. The current amount of the annual contract charge depends upon the benefit option package selected.
------------------------------------------------------------------------------------------------------------------------- ANNUAL CONTRACT CHARGE ------------------------------------------------------------------------------------------------------------------------- OPTION 1 OPTION 2 ------------------------------------------------------------------------------------------------------------------------- Current charge is $30. Current charge is $0. ------------------------------------------------------------------------------------------------------------------------- The maximum annual contract charge is $30. The annual contract charge may be increased to a maximum of $30. -------------------------------------------------------------------------------------------------------------------------
The Owner will receive a written notice 30 days in advance of any change in the charge. Any applicable charge will be assessed once per year on the contract anniversary, starting on the first contract anniversary. If applicable, the annual contract charge is deducted from the Fund Value on each Contract Anniversary before the date annuity payments start. The amount of the charge will be allocated against the Guaranteed Interest Account and each subaccount of MONY America Variable Account A in the same proportion that the Fund Value in those accounts bears to the Fund Value of the Contract. The Company does not expect to make any profit from the annual contract charge. APPENDIX I: BENEFIT OPTION PACKAGES, TABLE OF FEES, EXAMPLES AND CHARGES AND DEDUCTIONS I-6 Appendix II: Condensed financial information -------------------------------------------------------------------------------- MONY LIFE INSURANCE COMPANY OF AMERICA MONY AMERICA VARIABLE ACCOUNT A ACCUMULATION UNIT VALUES
----------------------------------------------------------------------------------------------------------------------------- UNIT VALUE -------------------------------------------------------------------------------- DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, OPTION 1 2011 2010 2009 2008 2007 2006 2005 2004 2003 ------------------------------------------------------------------------------------------------------------------------------ All Asset Allocation $10.84 $11.37 $10.01 $ 8.03 $11.67 $11.30 $10.38 $ 9.99 $ 9.31 ------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation 7.73 8.46 7.57 6.02 10.02 -- -- -- -- ------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation 10.54 10.47 9.87 9.10 10.35 -- -- -- -- ------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation 9.72 9.91 9.20 8.13 10.22 -- -- -- -- ------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation 9.23 9.57 8.81 7.62 10.21 -- -- -- -- ------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation 8.53 9.08 8.24 6.83 10.14 -- -- -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth 11.94 12.13 9.19 6.84 12.47 -- -- -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity 10.46 10.92 9.84 7.65 12.20 12.20 10.21 -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income 12.80 13.00 11.37 10.32 15.43 15.06 13.14 12.52 10.75 ------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible 9.25 9.33 8.39 6.49 11.99 10.82 10.40 -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research 13.95 13.54 11.80 9.07 15.17 -- -- -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/Core Bond Index 13.79 13.29 12.68 12.47 13.82 13.54 -- -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions 13.67 13.65 12.61 10.94 12.85 12.57 11.35 10.98 10.55 ------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value 23.40 24.54 18.73 13.40 19.56 18.11 15.43 14.96 12.52 ------------------------------------------------------------------------------------------------------------------------------ EQ/Global Multi-Sector Equity 22.27 25.63 23.22 15.64 37.02 26.32 -- -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/Intermediate Government Bond Index 12.63 12.11 11.73 -- -- -- -- -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Value Index 11.87 -- -- -- -- -- -- -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Value PLUS 8.34 8.86 7.95 6.67 11.84 -- -- -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Index 13.85 14.32 11.50 8.52 16.96 15.85 -- -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS 12.22 13.60 11.24 -- -- -- -- -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market 10.59 10.72 10.84 10.94 10.81 10.42 10.07 -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth 11.60 11.41 10.67 8.33 12.56 10.52 9.87 9.47 9.21 ------------------------------------------------------------------------------------------------------------------------------ EQ/Morgan Stanley Mid Cap Growth 10.62 11.61 8.86 5.70 10.91 -- -- -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Ultra Short Bond 12.33 12.50 12.55 11.76 12.40 11.26 11.35 11.40 11.01 ------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index 17.05 17.93 14.38 11.51 17.65 -- -- -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income 10.72 11.16 9.99 7.63 12.88 12.89 11.43 10.62 9.49 ------------------------------------------------------------------------------------------------------------------------------ Franklin Income Securities Fund 17.09 16.89 15.17 11.32 16.29 15.89 13.60 13.55 12.04 ------------------------------------------------------------------------------------------------------------------------------ Franklin Rising Dividends Securities Fund 15.60 14.90 12.50 10.78 14.96 15.56 13.45 13.16 12.00 ------------------------------------------------------------------------------------------------------------------------------ Invesco Van Kampen V.I. Global Value Equity 9.80 11.13 10.16 8.86 14.98 14.22 11.87 11.36 10.12 Portfolio ------------------------------------------------------------------------------------------------------------------------------ Invesco V.I. Dividend Growth Fund 5.51 -- -- -- -- -- -- -- -- ------------------------------------------------------------------------------------------------------------------------------ Invesco V.I. Global Health Care Fund 12.71 12.38 11.90 9.43 13.37 12.10 11.64 10.89 10.25 ------------------------------------------------------------------------------------------------------------------------------ Invesco V.I. Technology Fund 9.41 10.03 8.37 5.38 9.82 9.22 8.45 8.37 7.91 ------------------------------------------------------------------------------------------------------------------------------ Janus Aspen Series Forty Portfolio 14.58 15.85 15.07 10.45 18.98 14.06 13.04 11.73 10.06 ------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------ --------- DEC. 31, OPTION 1 2002 ----------------------------------------------------- All Asset Allocation $ 7.80 ----------------------------------------------------- AXA Aggressive Allocation -- ----------------------------------------------------- AXA Conservative Allocation -- ----------------------------------------------------- AXA Conservative-Plus Allocation -- ----------------------------------------------------- AXA Moderate Allocation -- ----------------------------------------------------- AXA Moderate-Plus Allocation -- ----------------------------------------------------- EQ/AllianceBernstein Small Cap Growth -- ----------------------------------------------------- EQ/BlackRock Basic Value Equity -- ----------------------------------------------------- EQ/Boston Advisors Equity Income 8.59 ----------------------------------------------------- EQ/Calvert Socially Responsible -- ----------------------------------------------------- EQ/Capital Guardian Research -- ----------------------------------------------------- EQ/Core Bond Index -- ----------------------------------------------------- EQ/GAMCO Mergers and Acquisitions -- ----------------------------------------------------- EQ/GAMCO Small Company Value 9.22 ----------------------------------------------------- EQ/Global Multi-Sector Equity -- ----------------------------------------------------- EQ/Intermediate Government Bond Index -- ----------------------------------------------------- EQ/Large Cap Value Index -- ----------------------------------------------------- EQ/Large Cap Value PLUS -- ----------------------------------------------------- EQ/Mid Cap Index -- ----------------------------------------------------- EQ/Mid Cap Value PLUS -- ----------------------------------------------------- EQ/Money Market -- ----------------------------------------------------- EQ/Montag & Caldwell Growth 7.96 ----------------------------------------------------- EQ/Morgan Stanley Mid Cap Growth -- ----------------------------------------------------- EQ/PIMCO Ultra Short Bond 10.55 ----------------------------------------------------- EQ/Small Company Index -- ----------------------------------------------------- EQ/UBS Growth and Income 7.53 ----------------------------------------------------- Franklin Income Securities Fund -- ----------------------------------------------------- Franklin Rising Dividends Securities Fund -- ----------------------------------------------------- Invesco Van Kampen V.I. Global Value Equity 7.94 Portfolio ----------------------------------------------------- Invesco V.I. Dividend Growth Fund -- ----------------------------------------------------- Invesco V.I. Global Health Care Fund 8.11 ----------------------------------------------------- Invesco V.I. Technology Fund 5.96 ----------------------------------------------------- Janus Aspen Series Forty Portfolio 8.47 -----------------------------------------------------
II-1 APPENDIX II: CONDENSED FINANCIAL INFORMATION
---------------------------------------------------------------------------------------------------------------------------- UNIT VALUE -------------------------------------------------------------------------------- DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, OPTION 1 2011 2010 2009 2008 2007 2006 2005 2004 2003 ----------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series Overseas Portfolio $19.00 $28.42 $23.00 $13.00 $27.54 $21.78 $15.03 $11.53 $ 9.83 ----------------------------------------------------------------------------------------------------------------------------- MFS(R) Utilities Series 27.52 26.08 23.19 17.62 28.61 22.64 17.46 15.12 11.75 ----------------------------------------------------------------------------------------------------------------------------- Multimanager Multi-Sector Bond 13.25 12.73 12.05 11.10 14.64 14.33 -- -- -- ----------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Growth 10.31 12.38 9.81 7.38 12.91 12.60 11.57 10.88 9.79 ----------------------------------------------------------------------------------------------------------------------------- Oppenheimer Global Securities Fund/VA 18.64 20.62 18.04 13.10 22.22 21.20 18.28 16.22 13.81 ----------------------------------------------------------------------------------------------------------------------------- PIMCO Variable Insurance Trust Global Bond 20.15 18.96 17.18 14.88 15.19 14.01 13.55 14.68 13.44 Portfolio (Unhedged) ----------------------------------------------------------------------------------------------------------------------------- ProFund VP Bear 4.56 5.06 6.23 8.74 6.32 6.36 6.96 7.14 8.06 ----------------------------------------------------------------------------------------------------------------------------- ProFund VP Rising Rates Opportunity 3.57 5.79 6.98 5.34 8.71 9.30 8.55 9.39 10.67 ----------------------------------------------------------------------------------------------------------------------------- ProFund VP UltraBull 9.25 9.84 8.15 5.70 17.71 17.77 14.62 14.42 12.45 -----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------- --------- DEC. 31, OPTION 1 2002 ---------------------------------------------------- Janus Aspen Series Overseas Portfolio $ 7.40 ---------------------------------------------------- MFS(R) Utilities Series 8.75 ---------------------------------------------------- Multimanager Multi-Sector Bond -- ---------------------------------------------------- Multimanager Small Cap Growth 8.05 ---------------------------------------------------- Oppenheimer Global Securities Fund/VA -- ---------------------------------------------------- PIMCO Variable Insurance Trust Global Bond 11.88 Portfolio (Unhedged) ---------------------------------------------------- ProFund VP Bear -- ---------------------------------------------------- ProFund VP Rising Rates Opportunity -- ---------------------------------------------------- ProFund VP UltraBull -- ----------------------------------------------------
APPENDIX II: CONDENSED FINANCIAL INFORMATION II-2
--------------------------------------------------------------------------------------------------------------------- UNITS OUTSTANDING ------------------------------------------------------------------------------------------------ DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, OPTION 1 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 --------------------------------------------------------------------------------------------------------------------- All Asset 251,886 284,988 402,599 454,450 497,633 571,946 684,468 600,615 492,730 204,572 Allocation --------------------------------------------------------------------------------------------------------------------- AXA Aggressive 59,469 69,560 87,195 34,683 43,742 -- -- -- -- -- Allocation --------------------------------------------------------------------------------------------------------------------- AXA Conservative 156,846 139,523 117,841 93,700 22,315 -- -- -- -- -- Allocation --------------------------------------------------------------------------------------------------------------------- AXA Conservative- 91,465 106,443 125,852 98,447 37,693 -- -- -- -- -- Plus Allocation --------------------------------------------------------------------------------------------------------------------- AXA Moderate 354,881 456,870 535,669 401,832 132,668 -- -- -- -- -- Allocation --------------------------------------------------------------------------------------------------------------------- AXA Moderate- 172,648 195,148 288,764 210,275 40,787 -- -- -- -- -- Plus Allocation --------------------------------------------------------------------------------------------------------------------- EQ/ 42,698 59,499 92,448 115,398 129,235 -- -- -- -- -- AllianceBernstein Small Cap Growth --------------------------------------------------------------------------------------------------------------------- EQ/BlackRock 157,663 259,823 304,903 286,323 342,400 73,324 76,278 -- -- -- Basic Value Equity --------------------------------------------------------------------------------------------------------------------- EQ/Boston 170,798 237,862 273,942 358,388 407,611 458,184 481,560 408,003 239,493 82,561 Advisors Equity Income --------------------------------------------------------------------------------------------------------------------- EQ/Calvert Socially 22,106 31,532 34,661 43,411 36,001 40,077 41,217 -- -- -- Responsible --------------------------------------------------------------------------------------------------------------------- EQ/Capital 47,785 77,287 90,905 134,883 149,809 -- -- -- -- -- Guardian Research --------------------------------------------------------------------------------------------------------------------- EQ/Core Bond 618,616 839,224 1,005,876 954,215 1,292,354 1,073,917 -- -- -- -- Index --------------------------------------------------------------------------------------------------------------------- EQ/GAMCO 44,362 54,897 65,571 93,427 103,885 114,393 118,242 117,926 38,541 -- Mergers and Acquisitions --------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small 344,666 462,321 559,452 712,525 888,336 1,023,043 1,143,854 1,097,488 756,306 311,226 Company Value --------------------------------------------------------------------------------------------------------------------- EQ/Global Multi- 72,589 105,697 138,077 167,674 208,439 219,291 -- -- -- -- Sector Equity --------------------------------------------------------------------------------------------------------------------- EQ/Intermediate 357,852 493,557 631,723 -- -- -- -- -- -- -- Government Bond Index --------------------------------------------------------------------------------------------------------------------- EQ/Large Cap 342,725 -- -- -- -- -- -- -- -- -- Value Index --------------------------------------------------------------------------------------------------------------------- EQ/Large Cap 50,558 93,177 95,155 127,233 178,467 -- -- -- -- -- Value PLUS --------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Index 251,770 320,926 398,495 501,289 566,547 508,220 -- -- -- -- --------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value 320,542 521,623 651,958 -- -- -- -- -- -- -- PLUS --------------------------------------------------------------------------------------------------------------------- EQ/Money Market 560,190 700,462 1,132,470 1,246,668 1,182,243 1,099,869 1,052,098 -- -- -- --------------------------------------------------------------------------------------------------------------------- EQ/Montag & 481,257 623,515 746,208 872,072 1,081,298 1,361,636 1,685,752 1,581,734 1,198,093 392,688 Caldwell Growth ---------------------------------------------------------------------------------------------------------------------
II-3 APPENDIX II: CONDENSED FINANCIAL INFORMATION
------------------------------------------------------------------------------------------------------------------------- UNITS OUTSTANDING ------------------------------------------------------------------------------------------ DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, OPTION 1 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 ------------------------------------------------------------------------------------------------------------------------- EQ/Morgan Stanley Mid Cap 348,490 423,351 486,679 554,686 709,131 -- -- -- -- -- Growth ------------------------------------------------------------------------------------------------------------------------- EQ/PIMCO Ultra Short Bond 241,300 338,445 587,834 529,836 324,629 359,919 446,362 457,385 319,045 143,483 ------------------------------------------------------------------------------------------------------------------------- EQ/Small Company Index 76,282 105,145 120,840 150,816 175,510 -- -- -- -- -- ------------------------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income 129,915 179,349 202,769 192,608 241,384 260,211 272,117 270,546 191,851 91,127 ------------------------------------------------------------------------------------------------------------------------- Franklin Income Securities 343,412 521,989 668,906 869,677 1,054,022 416,536 328,984 247,404 116,756 -- Fund ------------------------------------------------------------------------------------------------------------------------- Franklin Rising Dividends 90,806 85,918 86,265 127,156 182,045 171,880 146,067 158,869 98,376 -- Securities Fund ------------------------------------------------------------------------------------------------------------------------- Invesco Van Kampen V.I. 58,609 90,575 105,553 126,925 224,820 251,427 277,293 268,706 208,605 53,212 Global Value Equity Portfolio ------------------------------------------------------------------------------------------------------------------------- Invesco V.I. Dividend Growth 19,216 -- -- -- -- -- -- -- -- -- Fund ------------------------------------------------------------------------------------------------------------------------- Invesco V.I. Global Health 44,819 57,293 70,804 92,691 114,062 128,350 130,612 133,944 89,624 34,314 Care Fund ------------------------------------------------------------------------------------------------------------------------- Invesco V.I. Technology Fund 55,229 64,418 53,831 58,382 73,449 75,551 80,630 89,696 58,966 23,622 ------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series Forty 146,598 217,365 281,114 305,780 374,145 335,485 220,717 182,506 136,171 32,480 Portfolio ------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series Overseas 230,370 334,711 404,463 480,782 630,845 698,959 698,879 723,025 546,239 174,311 Portfolio ------------------------------------------------------------------------------------------------------------------------- MFS(R) Utilities Series 96,671 118,120 149,734 187,254 220,173 195,895 171,034 134,931 72,426 18,209 ------------------------------------------------------------------------------------------------------------------------- Multimanager Multi-Sector 211,720 309,259 339,607 357,943 468,645 482,385 -- -- -- -- Bond ------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap 182,013 227,899 264,362 316,585 395,880 478,312 503,409 553,406 407,080 142,861 Growth ------------------------------------------------------------------------------------------------------------------------- Oppenheimer Global 132,835 184,931 240,294 355,444 417,130 449,536 419,429 330,561 95,923 -- Securities Fund/VA ------------------------------------------------------------------------------------------------------------------------- PIMCO Variable Insurance 165,175 254,379 355,733 436,029 447,782 381,670 391,686 381,980 222,104 53,299 Trust Global Bond Portfolio (Unhedged) ------------------------------------------------------------------------------------------------------------------------- ProFund VP Bear 2,905 6,581 8,250 14,925 6,368 8,292 7,569 13,091 4,960 -- ------------------------------------------------------------------------------------------------------------------------- ProFund VP Rising Rates 51,112 519,994 523,403 550,106 588,907 609,227 613,062 617,666 528,778 -- Opportunity ------------------------------------------------------------------------------------------------------------------------- ProFund VP UltraBull 143,279 45,060 47,419 59,202 63,189 90,284 82,491 89,655 53,814 -- -------------------------------------------------------------------------------------------------------------------------
APPENDIX II: CONDENSED FINANCIAL INFORMATION II-4
--------------------------------------------------------------------------------------------------------------------------- UNIT VALUE -------------------------------------------------------------------------------- DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, OPTION 2 2011 2010 2009 2008 2007 2006 2005 2004 2003 ---------------------------------------------------------------------------------------------------------------------------- All Asset Allocation $10.78 $11.36 $10.05 $ 8.10 $11.84 $11.52 $10.63 $10.29 $ 9.64 ---------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation 7.55 8.31 7.47 5.97 9.99 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation 10.30 10.28 9.75 9.03 10.32 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation 9.50 9.73 9.08 8.07 10.19 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation 9.02 9.40 8.70 7.56 10.18 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation 8.33 8.92 8.13 6.78 10.11 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth 11.86 12.11 9.22 6.89 12.64 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity 10.13 10.63 9.63 7.52 12.06 12.12 10.20 -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Boston Advisors Equity Income 11.38 11.62 10.21 9.31 13.99 13.72 12.03 11.52 9.94 ---------------------------------------------------------------------------------------------------------------------------- EQ/Calvert Socially Responsible 8.96 9.09 8.21 6.38 11.85 10.75 10.39 -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Research 12.78 12.46 10.92 8.43 14.17 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Core Bond Index 13.14 12.72 12.20 12.06 13.44 13.22 -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions 13.53 13.58 12.60 10.99 12.97 12.76 11.57 11.26 10.87 ---------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small Company Value 22.13 23.33 17.89 12.86 18.87 17.56 15.03 14.65 12.33 ---------------------------------------------------------------------------------------------------------------------------- EQ/Global Multi-Sector Equity 22.05 25.50 23.23 15.72 37.39 26.72 -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Intermediate Government Bond Index 12.04 11.60 11.29 -- -- -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Value Index 11.33 -- -- -- -- -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Value PLUS 7.98 8.52 7.68 6.47 11.55 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Index 13.04 13.56 10.94 8.14 16.29 15.30 -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS 12.08 13.51 11.22 -- -- -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Money Market 10.26 10.44 10.61 10.76 10.69 10.36 10.06 -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth 10.79 10.67 10.03 7.86 11.92 10.03 9.46 9.12 8.92 ---------------------------------------------------------------------------------------------------------------------------- EQ/Morgan Stanley Mid Cap Growth 11.22 12.33 9.46 6.11 11.77 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/PIMCO Ultra Short Bond 11.79 12.01 12.12 11.41 12.10 11.04 11.18 11.29 10.96 ---------------------------------------------------------------------------------------------------------------------------- EQ/Small Company Index 16.39 17.32 13.97 11.24 17.31 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income 10.52 11.02 9.91 7.61 12.91 12.98 11.57 10.80 9.70 ---------------------------------------------------------------------------------------------------------------------------- Franklin Income Securities Fund 16.09 15.98 14.43 10.82 15.65 15.34 13.20 13.21 11.80 ---------------------------------------------------------------------------------------------------------------------------- Franklin Rising Dividends Securities Fund 14.83 14.23 12.00 10.40 14.51 15.17 13.18 12.96 11.87 ---------------------------------------------------------------------------------------------------------------------------- Invesco Van Kampen V.I. Global Value 9.43 10.77 9.87 8.66 14.71 14.03 11.77 11.32 10.14 Equity Fund ---------------------------------------------------------------------------------------------------------------------------- Invesco V.I. Dividend Growth Fund 5.50 -- -- -- -- -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- Invesco V.I. Global Health Care Fund 12.11 11.85 11.45 9.12 13.00 11.82 11.43 10.75 10.16 ---------------------------------------------------------------------------------------------------------------------------- Invesco V.I. Technology Fund 9.03 9.67 8.11 5.24 9.61 9.08 8.35 8.32 7.90 ---------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series Forty Portfolio 14.59 15.95 15.23 10.61 19.38 14.43 13.45 12.16 10.48 ---------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series Overseas Portfolio 19.47 29.27 23.81 13.53 28.80 22.89 15.87 12.24 10.49 ---------------------------------------------------------------------------------------------------------------------------- MFS(R) Utilities Series 25.63 24.41 21.81 16.66 27.18 21.62 16.75 14.58 11.39 ---------------------------------------------------------------------------------------------------------------------------- Multimanager Multi-Sector Bond 12.59 12.16 11.57 10.71 14.20 13.97 -- -- -- ---------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Growth 9.77 11.78 9.39 7.10 12.48 12.24 11.29 10.68 9.65 ---------------------------------------------------------------------------------------------------------------------------- Oppenheimer Global Securities Fund/VA 18.03 20.05 17.63 12.87 21.93 21.03 18.23 16.25 13.91 ---------------------------------------------------------------------------------------------------------------------------- PIMCO Variable Insurance Trust Global 19.19 18.15 16.53 14.39 14.76 13.68 13.30 14.48 13.32 Bond Portfolio (Unhedged) ---------------------------------------------------------------------------------------------------------------------------- ProFund VP Bear 4.80 5.36 6.63 9.35 6.80 6.87 7.56 7.79 8.84 ---------------------------------------------------------------------------------------------------------------------------- ProFund VP Rising Rates Opportunity 3.42 5.57 6.75 5.19 8.52 9.14 8.44 9.32 10.64 ---------------------------------------------------------------------------------------------------------------------------- ProFund VP UltraBull 8.68 9.27 7.72 5.43 16.94 17.09 14.12 14.00 12.15 ----------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------- --------- DEC. 31, OPTION 2 2002 --------------------------------------------------- All Asset Allocation $ 8.11 --------------------------------------------------- AXA Aggressive Allocation -- --------------------------------------------------- AXA Conservative Allocation -- --------------------------------------------------- AXA Conservative-Plus Allocation -- --------------------------------------------------- AXA Moderate Allocation -- --------------------------------------------------- AXA Moderate-Plus Allocation -- --------------------------------------------------- EQ/AllianceBernstein Small Cap Growth -- --------------------------------------------------- EQ/BlackRock Basic Value Equity -- --------------------------------------------------- EQ/Boston Advisors Equity Income 7.99 --------------------------------------------------- EQ/Calvert Socially Responsible -- --------------------------------------------------- EQ/Capital Guardian Research -- --------------------------------------------------- EQ/Core Bond Index -- --------------------------------------------------- EQ/GAMCO Mergers and Acquisitions -- --------------------------------------------------- EQ/GAMCO Small Company Value 9.12 --------------------------------------------------- EQ/Global Multi-Sector Equity -- --------------------------------------------------- EQ/Intermediate Government Bond Index -- --------------------------------------------------- EQ/Large Cap Value Index -- --------------------------------------------------- EQ/Large Cap Value PLUS -- --------------------------------------------------- EQ/Mid Cap Index -- --------------------------------------------------- EQ/Mid Cap Value PLUS -- --------------------------------------------------- EQ/Money Market -- --------------------------------------------------- EQ/Montag & Caldwell Growth 7.75 --------------------------------------------------- EQ/Morgan Stanley Mid Cap Growth -- --------------------------------------------------- EQ/PIMCO Ultra Short Bond 10.55 --------------------------------------------------- EQ/Small Company Index -- --------------------------------------------------- EQ/UBS Growth and Income 7.73 --------------------------------------------------- Franklin Income Securities Fund -- --------------------------------------------------- Franklin Rising Dividends Securities Fund -- --------------------------------------------------- Invesco Van Kampen V.I. Global Value 7.99 Equity Fund --------------------------------------------------- Invesco V.I. Dividend Growth Fund -- --------------------------------------------------- Invesco V.I. Global Health Care Fund 8.09 --------------------------------------------------- Invesco V.I. Technology Fund 5.98 --------------------------------------------------- Janus Aspen Series Forty Portfolio 8.87 --------------------------------------------------- Janus Aspen Series Overseas Portfolio 7.93 --------------------------------------------------- MFS(R) Utilities Series 8.53 --------------------------------------------------- Multimanager Multi-Sector Bond -- --------------------------------------------------- Multimanager Small Cap Growth 7.98 --------------------------------------------------- Oppenheimer Global Securities Fund/VA -- --------------------------------------------------- PIMCO Variable Insurance Trust Global 11.84 Bond Portfolio (Unhedged) --------------------------------------------------- ProFund VP Bear -- --------------------------------------------------- ProFund VP Rising Rates Opportunity -- --------------------------------------------------- ProFund VP UltraBull -- ---------------------------------------------------
II-5 APPENDIX II: CONDENSED FINANCIAL INFORMATION
---------------------------------------------------------------------------------------------------------------------- UNITS OUTSTANDING ------------------------------------------------------------------------------------------------ DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, OPTION 2 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 ---------------------------------------------------------------------------------------------------------------------- All Asset Allocation 293,870 312,126 348,568 422,018 497,752 588,516 639,152 630,072 522,037 225,750 ---------------------------------------------------------------------------------------------------------------------- AXA Aggressive 38,475 35,161 78,989 108,793 25,166 -- -- -- -- -- Allocation ---------------------------------------------------------------------------------------------------------------------- AXA Conservative 56,163 46,978 60,616 57,009 33,148 -- -- -- -- -- Allocation ---------------------------------------------------------------------------------------------------------------------- AXA Conservative- 43,804 49,080 61,986 138,523 82,083 -- -- -- -- -- Plus Allocation ---------------------------------------------------------------------------------------------------------------------- AXA Moderate 344,364 460,554 473,846 284,753 87,026 -- -- -- -- -- Allocation ---------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus 163,993 239,230 332,932 233,785 179,231 -- -- -- -- -- Allocation ---------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein 58,596 61,103 85,165 110,121 143,655 -- -- -- -- -- Small Cap Growth ---------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic 184,592 218,864 285,518 296,279 358,489 59,749 62,761 -- -- -- Value Equity ---------------------------------------------------------------------------------------------------------------------- EQ/Boston Advisors 185,063 243,386 280,823 356,589 432,755 503,174 530,146 468,935 268,992 114,840 Equity Income ---------------------------------------------------------------------------------------------------------------------- EQ/Calvert Socially 13,905 14,911 26,052 35,479 42,384 39,749 39,883 -- -- -- Responsible ---------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian 63,105 73,927 75,986 103,379 119,932 -- -- -- -- -- Research ---------------------------------------------------------------------------------------------------------------------- EQ/Core Bond Index 603,591 789,657 1,006,718 1,022,385 1,327,404 1,186,120 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Mergers 63,329 76,681 85,065 122,990 152,474 158,142 132,522 109,352 39,335 -- and Acquisitions ---------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small 398,309 490,470 600,662 733,202 924,400 1,036,914 1,167,441 1,150,083 900,245 527,141 Company Value ---------------------------------------------------------------------------------------------------------------------- EQ/Global Multi- 79,496 99,042 131,751 148,122 184,157 178,447 -- -- -- -- Sector Equity ---------------------------------------------------------------------------------------------------------------------- EQ/Intermediate 337,485 453,764 549,968 -- -- -- -- -- -- -- Government Bond Index ---------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Value 336,091 -- -- -- -- -- -- -- -- -- Index ---------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Value 48,529 58,018 67,764 98,849 142,380 -- -- -- -- -- PLUS ---------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Index 241,579 303,478 386,610 505,582 630,181 568,855 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value 406,406 527,298 683,891 -- -- -- -- -- -- -- PLUS ---------------------------------------------------------------------------------------------------------------------- EQ/Money Market 528,334 676,146 814,956 804,101 580,027 584,835 792,861 -- -- -- ---------------------------------------------------------------------------------------------------------------------- EQ/Montag & 462,342 602,366 777,279 945,627 1,195,392 1,424,361 1,660,838 1,564,074 1,219,870 488,730 Caldwell Growth ---------------------------------------------------------------------------------------------------------------------- EQ/Morgan Stanley 323,475 383,207 462,363 557,677 681,613 -- -- -- -- -- Mid Cap Growth ---------------------------------------------------------------------------------------------------------------------- EQ/PIMCO Ultra 282,406 359,592 462,074 441,573 448,175 520,580 703,323 728,549 622,933 267,405 Short Bond ---------------------------------------------------------------------------------------------------------------------- EQ/Small Company 84,895 105,181 123,018 145,865 175,276 -- -- -- -- -- Index ----------------------------------------------------------------------------------------------------------------------
APPENDIX II: CONDENSED FINANCIAL INFORMATION II-6
--------------------------------------------------------------------------------------------------------------------------- UNITS OUTSTANDING ------------------------------------------------------------------------------------------ DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, OPTION 2 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 --------------------------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income 110,863 161,882 209,472 238,464 277,764 344,841 355,846 344,413 294,667 180,021 --------------------------------------------------------------------------------------------------------------------------- Franklin Income Securities Fund 500,416 692,744 832,882 951,395 1,274,513 474,042 372,282 305,097 127,569 -- --------------------------------------------------------------------------------------------------------------------------- Franklin Rising Dividends 123,645 141,788 141,110 179,625 222,750 208,165 182,562 171,242 72,994 -- Securities Fund --------------------------------------------------------------------------------------------------------------------------- Invesco Van Kampen V.I. Global 54,124 77,351 103,527 147,450 173,282 200,547 242,058 239,554 181,040 67,913 Value Equity Fund --------------------------------------------------------------------------------------------------------------------------- Invesco V.I. Dividend Growth 37,784 -- -- -- -- -- -- -- -- -- Fund --------------------------------------------------------------------------------------------------------------------------- Invesco V.I. Global Health Care 50,414 49,787 85,498 102,900 113,589 146,760 155,532 165,621 140,052 91,838 Fund --------------------------------------------------------------------------------------------------------------------------- Invesco V.I. Technology Fund 34,678 31,704 56,851 33,691 46,623 48,598 46,447 52,034 33,467 24,267 --------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series Forty 100,739 152,759 204,902 199,847 228,886 244,138 229,728 203,433 140,717 57,811 Portfolio --------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series Overseas 247,710 339,938 413,632 485,146 602,248 626,622 639,223 657,169 467,730 231,583 Portfolio --------------------------------------------------------------------------------------------------------------------------- MFS(R) Utilities Series 89,305 83,674 122,322 135,905 183,058 167,461 176,163 137,465 79,773 37,190 --------------------------------------------------------------------------------------------------------------------------- Multimanager Multi-Sector Bond 162,664 217,024 259,324 310,015 393,689 424,180 -- -- -- -- --------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Growth 154,954 205,081 286,588 351,830 427,713 525,434 540,197 538,881 430,208 249,366 --------------------------------------------------------------------------------------------------------------------------- Oppenheimer Global Securities 152,590 185,262 236,035 279,214 371,734 395,586 377,484 313,678 112,568 -- Fund/VA --------------------------------------------------------------------------------------------------------------------------- PIMCO Variable Insurance Trust 166,767 197,051 250,843 298,376 342,780 374,179 409,365 412,145 303,678 99,887 Global Bond Portfolio (Unhedged) --------------------------------------------------------------------------------------------------------------------------- ProFund VP Bear 3,080 4,088 17,646 61,612 2,003 3,098 4,277 4,994 1,052 -- --------------------------------------------------------------------------------------------------------------------------- ProFund VP Rising Rates 34,168 37,748 48,007 52,767 75,763 98,446 116,343 135,919 85,507 -- Opportunity --------------------------------------------------------------------------------------------------------------------------- ProFund VP UltraBull 42,395 48,891 56,863 66,255 98,376 94,866 116,832 118,709 66,123 -- ---------------------------------------------------------------------------------------------------------------------------
II-7 APPENDIX II: CONDENSED FINANCIAL INFORMATION
------------------------------------------------------------------------------------------------------------------------- UNIT VALUE ----------------------------------------------------------------------- DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, OPTION 3 2011 2010 2009 2008 2007 2006 2005 2004 -------------------------------------------------------------------------------------------------------------------------- All Asset Allocation $10.20 $10.82 $ 9.63 $ 7.82 $11.50 $11.26 $10.46 $10.19 -------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation 7.33 8.12 7.35 5.91 9.95 -- -- -- -------------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation 10.00 10.05 9.59 8.94 10.28 -- -- -- -------------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation 9.23 9.51 8.93 7.99 10.15 -- -- -- -------------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation 8.76 9.18 8.56 7.49 10.15 -- -- -- -------------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation 8.09 8.71 8.00 6.71 10.07 -- -- -- -------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth 11.33 11.65 8.93 6.72 12.40 -- -- -- -------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity 9.72 10.27 9.37 7.36 11.88 12.02 10.18 -- -------------------------------------------------------------------------------------------------------------------------- EQ/Boston Advisors Equity Income 10.66 10.96 9.70 8.90 13.46 13.29 11.73 11.30 -------------------------------------------------------------------------------------------------------------------------- EQ/Calvert Socially Responsible 8.60 8.78 7.99 6.25 11.68 10.66 10.37 -- -------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Research 11.95 11.74 10.35 8.04 13.61 -- -- -- -------------------------------------------------------------------------------------------------------------------------- EQ/Core Bond Index 12.28 11.97 11.55 11.49 12.88 12.76 -- -- -------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions 12.30 12.42 11.60 10.18 12.10 11.98 10.93 10.71 -------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small Company Value 21.00 22.28 17.20 12.45 18.38 17.21 14.83 14.55 -------------------------------------------------------------------------------------------------------------------------- EQ/Global Multi-Sector Equity 21.06 24.52 22.48 15.31 36.66 26.37 -- -- -------------------------------------------------------------------------------------------------------------------------- EQ/Intermediate Government Bond Index 11.29 10.95 10.73 -- -- -- -- -- -------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Value Index 10.35 -- -- -- -- -- -- -- -------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Value PLUS 7.80 8.39 7.61 6.46 11.60 -- -- -- -------------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Index 12.37 12.95 10.51 7.88 15.87 15.00 -- -- -------------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS 11.89 13.39 11.19 -- -- -- -- -- -------------------------------------------------------------------------------------------------------------------------- EQ/Money Market 9.85 10.08 10.31 10.53 10.53 10.27 10.04 -- -------------------------------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth 10.17 10.12 9.58 7.56 11.53 9.77 9.27 9.00 -------------------------------------------------------------------------------------------------------------------------- EQ/Morgan Stanley Mid Cap Growth 9.75 10.79 8.33 5.42 10.50 -- -- -- -------------------------------------------------------------------------------------------------------------------------- EQ/PIMCO Ultra Short Bond 11.03 11.31 11.48 10.88 11.61 10.67 10.87 11.05 -------------------------------------------------------------------------------------------------------------------------- EQ/Small Company Index 15.50 16.49 13.38 10.84 16.80 -- -- -- -------------------------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income 10.04 10.57 9.57 7.40 12.63 12.79 11.47 10.78 -------------------------------------------------------------------------------------------------------------------------- Franklin Income Securities Fund 15.23 15.23 13.84 10.45 15.21 15.01 13.00 13.09 -------------------------------------------------------------------------------------------------------------------------- Franklin Rising Dividends Securities Fund 13.62 13.16 11.17 9.74 13.68 14.39 12.58 12.45 -------------------------------------------------------------------------------------------------------------------------- Invesco Van Kampen V.I. Global Value Equity Fund 8.81 10.12 9.34 8.24 14.10 13.54 11.43 11.06 -------------------------------------------------------------------------------------------------------------------------- Invesco V.I. Dividend Growth Fund 5.28 -- -- -- -- -- -- -- -------------------------------------------------------------------------------------------------------------------------- Invesco V.I. Global Health Care Fund 11.25 11.08 10.78 8.64 12.39 11.35 11.04 10.45 -------------------------------------------------------------------------------------------------------------------------- Invesco V.I. Technology Fund 9.38 10.12 8.54 5.55 10.25 9.74 9.03 9.04 -------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series Forty Portfolio 13.71 15.08 14.50 10.17 18.69 14.01 13.14 11.95 -------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series Overseas Portfolio 18.22 27.57 22.57 12.91 27.66 22.12 15.44 11.98 -------------------------------------------------------------------------------------------------------------------------- MFS(R) Utilities Series 22.53 21.60 19.43 14.93 24.52 19.63 15.31 13.41 -------------------------------------------------------------------------------------------------------------------------- Multimanager Multi-Sector Bond 11.89 11.55 11.06 10.30 13.76 13.62 -- -- -------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Growth 9.05 10.99 8.81 6.71 11.86 11.72 10.88 10.35 -------------------------------------------------------------------------------------------------------------------------- Oppenheimer Global Securities Fund/VA 15.20 17.01 15.05 11.05 18.97 18.31 15.87 14.33 -------------------------------------------------------------------------------------------------------------------------- PIMCO Variable Insurance Trust Global Bond 18.18 17.30 15.86 13.90 14.35 13.39 13.10 14.36 Portfolio (Unhedged) -------------------------------------------------------------------------------------------------------------------------- ProFund VP Bear 4.14 4.65 5.80 8.23 6.02 6.13 6.78 7.04 -------------------------------------------------------------------------------------------------------------------------- ProFund VP Rising Rates Opportunity 3.23 5.29 6.45 5.00 8.25 8.91 8.28 9.20 -------------------------------------------------------------------------------------------------------------------------- ProFund VP UltraBull 9.32 10.02 8.40 5.94 18.67 18.95 15.77 15.73 --------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------- ------------------ DEC. 31, DEC. 31, OPTION 3 2003 2002 ------------------------------------------------------------------- All Asset Allocation $ 9.60 $ 8.13 ------------------------------------------------------------------- AXA Aggressive Allocation -- -- ------------------------------------------------------------------- AXA Conservative Allocation -- -- ------------------------------------------------------------------- AXA Conservative-Plus Allocation -- -- ------------------------------------------------------------------- AXA Moderate Allocation -- -- ------------------------------------------------------------------- AXA Moderate-Plus Allocation -- -- ------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth -- -- ------------------------------------------------------------------- EQ/BlackRock Basic Value Equity -- -- ------------------------------------------------------------------- EQ/Boston Advisors Equity Income 9.82 7.93 ------------------------------------------------------------------- EQ/Calvert Socially Responsible -- -- ------------------------------------------------------------------- EQ/Capital Guardian Research -- -- ------------------------------------------------------------------- EQ/Core Bond Index -- -- ------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions 10.40 -- ------------------------------------------------------------------- EQ/GAMCO Small Company Value 12.32 9.18 ------------------------------------------------------------------- EQ/Global Multi-Sector Equity -- -- ------------------------------------------------------------------- EQ/Intermediate Government Bond Index -- -- ------------------------------------------------------------------- EQ/Large Cap Value Index -- -- ------------------------------------------------------------------- EQ/Large Cap Value PLUS -- -- ------------------------------------------------------------------- EQ/Mid Cap Index -- -- ------------------------------------------------------------------- EQ/Mid Cap Value PLUS -- -- ------------------------------------------------------------------- EQ/Money Market -- -- ------------------------------------------------------------------- EQ/Montag & Caldwell Growth 8.85 7.74 ------------------------------------------------------------------- EQ/Morgan Stanley Mid Cap Growth -- -- ------------------------------------------------------------------- EQ/PIMCO Ultra Short Bond 10.79 10.46 ------------------------------------------------------------------- EQ/Small Company Index -- -- ------------------------------------------------------------------- EQ/UBS Growth and Income 9.74 7.82 ------------------------------------------------------------------- Franklin Income Securities Fund 11.77 -- ------------------------------------------------------------------- Franklin Rising Dividends Securities Fund 11.49 -- ------------------------------------------------------------------- Invesco Van Kampen V.I. Global Value Equity Fund 9.98 7.92 ------------------------------------------------------------------- Invesco V.I. Dividend Growth Fund -- -- ------------------------------------------------------------------- Invesco V.I. Global Health Care Fund 9.94 7.96 ------------------------------------------------------------------- Invesco V.I. Technology Fund 8.65 6.59 ------------------------------------------------------------------- Janus Aspen Series Forty Portfolio 10.37 8.83 ------------------------------------------------------------------- Janus Aspen Series Overseas Portfolio 10.34 7.86 ------------------------------------------------------------------- MFS(R) Utilities Series 10.55 7.94 ------------------------------------------------------------------- Multimanager Multi-Sector Bond -- -- ------------------------------------------------------------------- Multimanager Small Cap Growth 9.42 7.84 ------------------------------------------------------------------- Oppenheimer Global Securities Fund/VA 12.34 -- ------------------------------------------------------------------- PIMCO Variable Insurance Trust Global Bond 13.29 11.89 Portfolio (Unhedged) ------------------------------------------------------------------- ProFund VP Bear 8.03 -- ------------------------------------------------------------------- ProFund VP Rising Rates Opportunity 10.57 -- ------------------------------------------------------------------- ProFund VP UltraBull 13.74 -- -------------------------------------------------------------------
APPENDIX II: CONDENSED FINANCIAL INFORMATION II-8
------------------------------------------------------------------------------------------------------------------------- UNITS OUTSTANDING -------------------------------------------------------------------------------------------- DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, OPTION 3 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 ------------------------------------------------------------------------------------------------------------------------- All Asset Allocation 128,562 151,771 174,411 216,521 254,235 279,059 304,351 329,211 264,065 130,971 ------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation 44,962 40,573 37,046 17,830 34,138 -- -- -- -- -- ------------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation 16,816 77,068 17,467 5,709 -- -- -- -- -- -- ------------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus 17,855 38,715 28,089 15,344 8,553 -- -- -- -- -- Allocation ------------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation 121,756 125,067 143,749 88,659 50,097 -- -- -- -- -- ------------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus 80,649 129,275 98,028 91,336 101,843 -- -- -- -- -- Allocation ------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small 44,789 81,971 90,660 119,708 118,648 -- -- -- -- -- Cap Growth ------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value 187,982 198,047 208,484 225,245 249,281 66,466 55,843 -- -- -- Equity ------------------------------------------------------------------------------------------------------------------------- EQ/Boston Advisors Equity 183,786 223,501 270,840 285,462 340,231 393,271 450,085 443,355 210,340 85,624 Income ------------------------------------------------------------------------------------------------------------------------- EQ/Calvert Socially 7,182 11,121 15,293 27,274 30,193 25,282 27,434 -- -- -- Responsible ------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian 46,842 58,908 68,895 75,551 88,898 -- -- -- -- -- Research ------------------------------------------------------------------------------------------------------------------------- EQ/Core Bond Index 395,487 549,335 645,684 554,830 659,415 491,298 -- -- -- -- ------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Mergers and 65,681 78,893 87,045 100,229 110,532 147,362 152,240 142,384 19,602 -- Acquisitions ------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small Company 270,001 340,106 404,191 457,808 555,475 655,604 745,939 771,937 570,622 312,519 Value ------------------------------------------------------------------------------------------------------------------------- EQ/Global Multi-Sector 69,373 87,875 108,954 119,794 131,877 158,960 -- -- -- -- Equity ------------------------------------------------------------------------------------------------------------------------- EQ/Intermediate Government 288,030 376,543 421,835 -- -- -- -- -- -- -- Bond Index ------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Value Index 279,443 -- -- -- -- -- -- -- -- -- ------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Value PLUS 61,808 70,725 76,434 85,550 104,475 -- -- -- -- -- ------------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Index 265,143 339,741 379,519 447,586 513,390 478,745 -- -- -- -- ------------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS 234,106 302,196 351,453 -- -- -- -- -- -- -- ------------------------------------------------------------------------------------------------------------------------- EQ/Money Market 373,575 557,453 696,885 542,948 644,650 485,349 525,734 -- -- -- ------------------------------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell 364,434 456,311 547,724 616,988 740,646 1,028,742 1,254,424 1,231,095 903,450 322,138 Growth ------------------------------------------------------------------------------------------------------------------------- EQ/Morgan Stanley Mid Cap 240,627 292,866 356,085 387,830 462,277 -- -- -- -- -- Growth ------------------------------------------------------------------------------------------------------------------------- EQ/PIMCO Ultra Short Bond 118,181 150,539 202,811 150,857 119,459 140,823 163,210 172,435 132,055 58,455 ------------------------------------------------------------------------------------------------------------------------- EQ/Small Company Index 40,398 45,489 69,833 89,275 94,407 -- -- -- -- -- ------------------------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income 127,779 175,553 192,521 178,458 212,333 272,190 284,955 288,655 205,585 116,862 ------------------------------------------------------------------------------------------------------------------------- Franklin Income Securities 345,851 380,714 438,894 516,649 639,433 136,586 130,576 149,633 53,664 -- Fund ------------------------------------------------------------------------------------------------------------------------- Franklin Rising Dividends 103,623 103,576 109,550 121,162 130,496 150,943 129,608 127,851 25,163 -- Securities Fund ------------------------------------------------------------------------------------------------------------------------- Invesco Van Kampen V.I. 48,539 58,465 63,870 95,468 106,061 142,928 137,508 138,208 107,025 96,503 Global Value Equity Fund -------------------------------------------------------------------------------------------------------------------------
II-9 APPENDIX II: CONDENSED FINANCIAL INFORMATION
----------------------------------------------------------------------------------------------------------------------------- UNITS OUTSTANDING ----------------------------------------------------------------------------------------- DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, OPTION 3 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 ----------------------------------------------------------------------------------------------------------------------------- Invesco V.I. Dividend Growth Fund 64,105 -- -- -- -- -- -- -- -- -- ----------------------------------------------------------------------------------------------------------------------------- Invesco V.I. Global Health Care 74,408 84,358 92,452 110,759 128,499 141,522 160,443 165,597 117,180 31,890 Fund ----------------------------------------------------------------------------------------------------------------------------- Invesco V.I. Technology Fund 30,976 29,419 30,791 42,232 41,117 60,685 61,622 68,906 40,774 15,037 ----------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series Forty Portfolio 72,247 97,193 124,266 142,574 157,757 141,545 137,929 133,787 103,426 40,704 ----------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series Overseas 202,131 287,233 345,320 442,783 518,962 580,743 582,650 605,704 443,160 191,763 Portfolio ----------------------------------------------------------------------------------------------------------------------------- MFS(R) Utilities Series 60,526 71,204 91,752 99,733 110,435 114,401 123,861 108,933 53,404 13,481 ----------------------------------------------------------------------------------------------------------------------------- Multimanager Multi-Sector Bond 139,093 149,629 162,634 172,340 211,992 247,892 -- -- -- -- ----------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Growth 150,263 194,598 228,267 298,509 365,192 428,335 462,017 484,221 381,741 174,101 ----------------------------------------------------------------------------------------------------------------------------- Oppenheimer Global Securities 99,461 113,820 131,009 151,724 179,536 193,323 212,652 206,632 53,888 -- Fund/VA ----------------------------------------------------------------------------------------------------------------------------- PIMCO Variable Insurance Trust 120,806 122,178 133,700 161,765 170,551 195,938 229,087 267,365 194,076 50,418 Global Bond Portfolio (Unhedged) ----------------------------------------------------------------------------------------------------------------------------- ProFund VP Bear 3,431 5,516 10,113 20,500 6,114 10,309 12,635 12,064 5,843 -- ----------------------------------------------------------------------------------------------------------------------------- ProFund VP Rising Rates 34,038 36,458 39,524 40,075 56,817 106,074 120,988 155,028 47,641 -- Opportunity ----------------------------------------------------------------------------------------------------------------------------- ProFund VP UltraBull 113,392 125,003 162,969 196,300 132,356 144,606 178,819 221,408 131,565 -- -----------------------------------------------------------------------------------------------------------------------------
APPENDIX II: CONDENSED FINANCIAL INFORMATION II-10 Statement of additional information -------------------------------------------------------------------------------- TABLE OF CONTENTS MAY 1, 2012
PAGE Additional information about the Company 2 About our independent registered public accounting firm 2 Sale of the contracts 2 Federal tax status 2 Financial statements 4
If you would like to receive a copy of the MONY America Variable Account A Statement of Additional Information, please return this request to: MONY Life Insurance Company of America Policyholder Services 100 Madison Street Syracuse, New York 13202 1-800-487-6669 www.axa-equitable.com
---------------------------------------------------------------------------------- Please send me a copy of the MONY America Variable Account A Statement of Additional Information. ---------------------------------------------------------------------------------- Name ---------------------------------------------------------------------------------- Address ---------------------------------------------------------------------------------- City State Zip
MLA-VA Individual Flexible Payment Variable Annuity Contract Issued by MONY Life Insurance Company of America with variable investment options under MONY America's MONY America Variable Account A PROSPECTUS DATED MAY 1, 2012 Please read and keep this prospectus for future reference. It contains important information that you should know before purchasing, or taking any other action under your contract. Also, you should read the prospectuses for each Trust, which contain important information about their portfolios. -------------------------------------------------------------------------------- MONY Life Insurance Company of America (the "Company") issues the flexible payment variable annuity contract described in this prospectus. This prospectus is a disclosure document and describes all of the contract's material features, benefits, rights and obligations, as well as other information. The description of the contract's material provisions in this prospectus is current as of the date of this prospectus. If certain material provisions under the contract are changed after the date of this prospectus in accordance with the contract, those changes will be described in a supplement to this prospectus. You should carefully read this prospectus in conjunction with any applicable supplements. This Contract is no longer being sold. This prospectus is used with current contract owners only. We will continue to accept Purchase Payments under existing Contracts. You should note that your Contract features and charges, and your investment options, may vary depending on your state and/or the date on which you purchased your Contract. For more information about the particular features, charges and options applicable to you, please contact your financial professional and/or refer to your Contract. You can tell us what to do with your Purchase Payments. You can also tell us what to do with the fund value your Contract may create for you resulting from those Purchase Payments. You may allocate some or all of your Purchase Payments into the subaccounts. Each subaccount is a subaccount of Separate Account MONY America Variable Account A. Both the value of your Contract before annuitization and the amount of income afterward will depend on the investment performance of the portfolios you select. You bear the investment risk of investing in the portfolios. The subaccounts invest in shares of the following portfolios of AXA Premier VIP Trust, Dreyfus Stock Index Fund, Inc., EQ Advisors Trust, Fidelity Variable Insurance Products (VIP), Franklin Templeton Variable Insurance Products Trust, Janus Aspen Series, Oppenheimer Variable Account Funds, PIMCO Variable Insurance Trust and ProFunds VP (the "Funds"). ------------------------------------------------------------------------------- SUBACCOUNTS ------------------------------------------------------------------------------- All Asset Growth-Alt 20/(2)/ EQ/Money Market AXA Aggressive Allocation/(1)/ EQ/Montag & Caldwell Growth AXA Conservative Allocation/(1)/ EQ/Morgan Stanley Mid Cap Growth AXA Conservative-Plus Allocation/(1)/ EQ/PIMCO Ultra Short Bond AXA Moderate Allocation/(1)/ EQ/Quality Bond PLUS AXA Moderate-Plus Allocation/(1)/ EQ/T. Rowe Price Growth Stock Dreyfus Stock Index EQ/UBS Growth and Income EQ/BlackRock Basic Value Equity Fidelity VIP Contrafund(R) EQ/Boston Advisors Equity Income Franklin Income Securities EQ/Calvert Socially Responsible Franklin Rising Dividends Securities EQ/Capital Guardian Research Janus Aspen Balanced EQ/Core Bond Index Janus Aspen Enterprise EQ/Equity Growth PLUS Janus Aspen Forty EQ/GAMCO Mergers and Acquisitions Janus Aspen Worldwide EQ/GAMCO Small Company Value Multimanager Small Cap Growth EQ/Intermediate Government Bond/(3)/ Oppenheimer Global Securities Fund/VA EQ Large Cap Value Index PIMCO VIT Global Bond (Unhedged) EQ/MFS International Growth ProFund VP Bear EQ/Mid Cap Index ProFund VP Rising Rates Opportunity EQ/Mid Cap Value PLUS ProFund VP UltraBull -------------------------------------------------------------------------------
NOT ALL OF THESE PORTFOLIOS MAY BE AVAILABLE IN ALL STATES OR ALL MARKETS. (1)The "AXA Allocation" portfolios. (2)This is the variable investment option's new name, effective on or about May 21, 2012, subject to regulatory approval. Please see "The Funds" later in this prospectus for the variable investment option's former name. (3)This is the variable investment option's new name, effective on or about May 1, 2012. Please see "Portfolios of the Trusts" under "Contract features and benefits" later in this Prospectus for the variable investment option's former name. You may also allocate some or all of your Purchase Payments and fund value into our Guaranteed Interest Account with Market Value Adjustment, which is discussed later in this Prospectus. Among the many terms of the Guaranteed Interest Account with Market Value Adjustment are: . Guaranteed interest to be credited for specific periods (referred to as "Accumulation Periods"). . Three (3), five (5), seven (7), and ten (10) year Accumulation Periods are available. The one (1) year Accumulation Period is limited to the following states: Maryland, the Commonwealth of Massachusetts, New Jersey, Oklahoma, Oregon, the Commonwealth of Pennsylvania, South Carolina, Texas, and Washington. . Interest will be credited for the entire Accumulation Period on a daily basis. Different rates apply to each Accumulation Period and are determined by the Company from time to time at its sole discretion. THE SEC HAS NOT APPROVED OR DISAPPROVED THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS IS ACCURATE OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. THE CONTRACTS ARE NOT INSURED BY THE FDIC OR ANY OTHER AGENCY. THEY ARE NOT DEPOSITS OR OTHER OBLIGATIONS OF ANY BANK AND ARE NOT BANK GUARANTEED. THEY ARE SUBJECT TO INVESTMENT RISKS AND POSSIBLE LOSS OF PRINCIPAL. MLA-CM #235477 . A market value adjustment may be charged if part or all of the Guaranteed Interest Account with Market Value Adjustment is surrendered or transferred before the end of the Accumulation Period. . Contract owners should carefully consider the information contained in this prospectus before allocating Purchase Payments or Fund Values to the Guaranteed Interest Account with Market Value Adjustment offered herein. -------------------------------------------------------------------------------- These are only some of the terms of the Guaranteed Interest Account with Market Value Adjustment. Please read this prospectus carefully for more complete details of the contract. -------------------------------------------------------------------------------- A Statement of Additional Information dated May 1, 2012 containing additional information about the contract is incorporated herein by reference. It has been filed with the Securities and Exchange Commission and is available from the Company without charge upon written request. You may request one by writing to our processing office located at MONY Life Insurance Company of America, Policyholder Services, 100 Madison Street, Syracuse, New York 13202, or by telephoning 1-800-487-6669 or by accessing the SEC's website at www.sec.gov. The table of contents of the Statement of Additional Information can be found in the back of this prospectus. Contents of this Prospectus -------------------------------------------------------------------------------- --------------------------------------------------------------- 1. SUMMARY OF THE CONTRACT 5 --------------------------------------------------------------- Definitions 5 Purpose of the Contract 5 Purchase Payments and fund value 5 Minimum Purchase Payments 5 MONY America Variable Account A 5 Guaranteed Interest Account with Market Value Adjustment 6 The Accumulation Periods 6 Crediting of interest 6 The Market Value Adjustment 6 Transfer of fund value 7 Contract loans 7 Surrender 7 Charges and deductions 7 Right to return contract provision 7 Death benefit 7 Fee tables 8 Example 8 Other contracts 9 Condensed financial information 9 --------------------------------------------------------------- 2.WHO IS MONY LIFE INSURANCE COMPANY OF AMERICA? 10 --------------------------------------------------------------- MONY Life Insurance Company of America 10 How to reach us 11 MONY America Variable Account A 11 --------------------------------------------------------------- 3. THE FUNDS 12 --------------------------------------------------------------- Purchase of portfolio shares by MONY America Variable Account A 16 --------------------------------------------------------------- 4. DETAILED INFORMATION ABOUT THE CONTRACT 17 --------------------------------------------------------------- Payment and allocation of Purchase Payments 17 Telephone/fax/web transactions 20 Disruptive transfer activity 21 Termination of the Contract 22 --------------------------------------------------------------- 5.DESCRIPTION OF THE GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT 23 --------------------------------------------------------------- General 23 Guaranteed Interest Account with Market Value Adjustment 23 Allocations to the Guaranteed Interest Account with Market Value Adjustment 23 Specified interest rates and the accumulation periods 23 Surrenders, transfers or loans 25 The Market Value Adjustment 25 Investments 26
CONTENTS OF THIS PROSPECTUS 3 ----------------------------------------------------------- 6.SURRENDERS 27 ----------------------------------------------------------- ----------------------------------------------------------- 7.LOANS 28 ----------------------------------------------------------- ----------------------------------------------------------- 8.DEATH BENEFIT 29 ----------------------------------------------------------- Death benefit provided by the Contract 29 Enhanced death benefit options 29 Election and effective date of election 30 Payment of death benefit 30 ----------------------------------------------------------- 9.CHARGES AND DEDUCTIONS 31 ----------------------------------------------------------- Deductions from Purchase Payments 31 Charges against Fund Value 31 Deductions from Fund Value 32 ----------------------------------------------------------- 10.ANNUITY PROVISIONS 34 ----------------------------------------------------------- Annuity payments 34 Election and change of settlement option 34 Settlement options 34 Frequency of annuity payments 35 Additional provisions 35 Guaranteed Interest Account at annuitization 35 ----------------------------------------------------------- 11.OTHER PROVISIONS 36 ----------------------------------------------------------- Ownership 36 Provision required by Section 72(s) of the Code 36 Provision required by Section 401(a)(9) of the Code 36 Secondary annuitant 37 Assignment 37 Change of beneficiary 37 Substitution of securities 37 Changes to Contracts 37 Change in operation of MONY America Variable Account A 38 ----------------------------------------------------------- 12.VOTING RIGHTS 39 ----------------------------------------------------------- ----------------------------------------------------------- 13.DISTRIBUTION OF THE CONTRACTS 40 ----------------------------------------------------------- ----------------------------------------------------------- 14.FEDERAL TAX STATUS 42 ----------------------------------------------------------- Introduction 42 Taxation of annuities in general 42 Retirement plans 43 Tax treatment of the Company 43 ----------------------------------------------------------- 15.ADDITIONAL INFORMATION AND INCORPORATION OF CERTAIN INFORMATION BY REFERENCE 44 -----------------------------------------------------------
------------------------------ 16.LEGAL PROCEEDINGS 45 ------------------------------ ------------------------------ 17.FINANCIAL STATEMENTS 46 ------------------------------ About the general account 46 ------------------------------ APPENDIX ------------------------------
I -- Condensed financial information I-1 -------------------------------------------- STATEMENT OF ADDITIONAL INFORMATION Table of contents --------------------------------------------
4 CONTENTS OF THIS PROSPECTUS 1. Summary of the Contract -------------------------------------------------------------------------------- This summary provides you with a brief overview of the more important aspects of your Contract, including the Guaranteed Interest Account with Market Value Adjustment. It is not intended to be complete. More detailed information is contained in this prospectus on the pages following this summary and in your Contract. This summary and the entire prospectus will describe the part of the contract involving MONY America Variable Account A. The prospectus also briefly will describe the Guaranteed Interest Account with Market Value Adjustment and the portfolios offered by AXA Premier VIP Trust, Dreyfus Stock Index Fund, Inc., EQ Advisors Trust, Fidelity Variable Insurance Products, Franklin Templeton Variable Insurance Products Trust, Janus Aspen Series, Oppenheimer Variable Account Funds, PIMCO Variable Insurance Trust and ProFunds VP. See applicable Fund prospectuses for more detailed information about the portfolios offered by the Funds. DEFINITIONS -------------------------------------------------------------------------------- Specialized terms will be defined on the page where they first appear enclosed in a box. -------------------------------------------------------------------------------- PURPOSE OF THE CONTRACT The Contract is an Individual Flexible Payment Variable Annuity Contract (the "Contract" or "Contracts"). As of January 31, 2005, we no longer offer this Contract. We will continue to accept Purchase Payments under existing Contracts. The Contract is designed to allow an owner to make Purchase Payments to the Company under the Contract. Those Purchase Payments are allocated at the owner's choice among the subaccounts of MONY America Variable Account A and the Guaranteed Interest Account with Market Value Adjustment. Those Purchase Payments can accumulate for a period of time and create fund value for the owner. The owner can choose the length of time that such Purchase Payments may accumulate. The owner may choose at some point in the future to receive annuity benefits based upon that accumulated fund value. An owner may use the Contract's design to accumulate fund value for various purposes including retirement or to supplement other retirement programs. Some of these retirement programs (the "Qualified Plans") may qualify for federal income tax advantages available under certain Sections of the Internal Revenue Code (the "Code"), Sections 401, 403 (other than Section 403(b)), 408, 408A and 457, for example. -------------------------------------------------------------------------------- QUALIFIED PLANS -- Retirement plans that may receive favorable tax treatment under certain Sections of the Internal Revenue Code. QUALIFIED CONTRACTS -- Contracts issued under Qualified Plans. NON-QUALIFIED CONTRACTS -- Contracts not issued under Qualified Plans. -------------------------------------------------------------------------------- The Contract is also designed to allow the owner to request payments of part or all of the accumulated fund value before the owner begins to receive annuity benefits. This payment may result in the imposition of a surrender charge and a market value adjustment. The market value adjustment will not apply to Contracts issued in certain states. It may also be subject to income and other taxes. PURCHASE PAYMENTS AND FUND VALUE You may allocate your Purchase Payments to one or more of the subaccounts of MONY America Variable Account A that are available under the Contract and/or to the Guaranteed Interest Account with Market Value Adjustment. The Purchase Payments you allocate among the various subaccounts of MONY America Variable Account A may increase or decrease in value on any day depending on the investment experience of the subaccounts you select. There is no guarantee that the value of the Purchase Payments you allocate to any of the subaccounts of MONY America Variable Account A will increase or that the Purchase Payments you make will not lose value. MINIMUM PURCHASE PAYMENTS The minimum Purchase Payment for individuals varies depending upon the purchaser of the Contract and the method of paying the Purchase Payments. See "Payment and allocation of Purchase Payments." Additional Purchase Payments may be made at any time. However, for certain automatic payment plans, the smallest additional payment is $50. (See "Issuance of the Contract.") The Company may change this requirement in the future. MONY AMERICA VARIABLE ACCOUNT A MONY America Variable Account A is a separate investment account of MONY Life Insurance Company of America (the "Company"). MONY America Variable Account A's assets are owned by the Company, but are not chargeable with liabilities arising from any other business the Company conducts. The subaccounts of MONY America Variable Account A invest in shares of the Funds at their net asset value. (See "The Funds.") Owners bear the entire investment risk for all amounts allocated to MONY America Variable Account A subaccounts. -------------------------------------------------------------------------------- FUND -- Any open-end management investment company or unit investment trust in which a subaccount invests. OWNER -- The person so designated in the application to whom all rights, benefits, options and privileges apply while the Annuitant is living. If a Contract has been absolutely assigned, the assignee becomes the Owner. PURCHASE PAYMENT -- An amount paid to the Company by the Owner or on the Owner's behalf as consideration for the benefits provided by the Contract. NET PURCHASE PAYMENT -- Purchase Payment less any applicable tax charges. -------------------------------------------------------------------------------- SUMMARY OF THE CONTRACT 5 GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT The Guaranteed Interest Account with Market Value Adjustment is part of the Company's General Account. It consists of all the Company's assets other than assets allocated to segregated investment accounts of the Company. Net Purchase Payments allocated to the Guaranteed Interest Account with Market Value Adjustment will be credited with interest at rates guaranteed by the Company for specified periods. (See "Description of the Guaranteed Interest Account with Market Value Adjustment.") The Guaranteed Interest Account with Market Value Adjustment is designed to provide you with an opportunity to receive a guaranteed fixed rate of interest. You can choose the period of time over which the guaranteed fixed rate of interest will be paid. That period of time is known as the Accumulation Period. The Guaranteed Interest Account with Market Value Adjustment is also designed to provide you with the opportunity to transfer part or all of the Guaranteed Interest Account with Market Value Adjustment to the Subaccounts available to you under the Contract. It is also designed to provide you with the opportunity to surrender part or all of the Guaranteed Interest Account with Market Value Adjustment before the end of the Accumulation Period. If you ask us to transfer or surrender part or all of the Guaranteed Interest Account, we may apply a market value adjustment ("MVA"). This adjustment may be positive, negative, or zero. THE ACCUMULATION PERIODS There are 4 different Accumulation Periods currently available: a 3-year Accumulation Period, a 5-year Accumulation Period, a 7-year Accumulation Period, and a 10-year Accumulation Period. Certain states limit contracts to a 1-year Accumulation Period. You may allocate initial or additional Purchase Payments made under the Contract to one or more Accumulation Periods. You may also ask us to transfer Fund Values from the Subaccounts available under the Contract to one or more of the Accumulation Periods. There is no minimum amount required for allocation or transfer to an Accumulation Period. (See "Allocations to the Guaranteed Interest Account with Market Value Adjustment.") Each Accumulation Period starts on the Business Day that falls on, or next follows, the date on which allocations are made and Purchase Payments are received or Fund Values are transferred. Each Accumulation Period ends on the Monthly Contract Anniversary immediately prior to the 3, 5, 7 or 10 year anniversary of the start of the Accumulation Period (the "Maturity Date"). This means that the Accumulation Period for a 3, 5, 7 or 10 year Accumulation Period may be up to 31 days shorter than 3, 5, 7 or 10 years, respectively. (See "Specified interest rates and the accumulation periods.") CREDITING OF INTEREST The Company will credit amounts allocated to an Accumulation Period with interest at an annual rate not less than 3.50%. This interest rate is referred to as the Specified Interest Rate. It will be credited for the duration of the Accumulation Period. Specified Interest Rates for each Accumulation Period are declared periodically at the sole discretion of the Company. (See "Specified interest rates and the accumulation periods.") At least 15 days and at most 45 days prior to the Maturity Date of an Accumulation Period, Owners having Fund Values allocated to such Accumulation Periods will be notified of the impending Maturity Date. Owners will then have the option of directing the surrender or transfer (including transfers for the purpose of obtaining a Loan) of the Fund Value within 30 days before the end of the Accumulation Period without application of any MVA. The Specified Interest Rate will be credited to amounts allocated to an Accumulation Period, so long as such allocations are neither surrendered nor transferred prior to the Maturity Date for the Allocation Period. The Specified Interest Rate is credited daily, providing an annual effective yield. (See "Specified interest rates and the accumulation periods.") THE MARKET VALUE ADJUSTMENT Amounts that are surrendered or transferred (including transfers for the purpose of obtaining a Loan) from an Accumulation Period more than 30 days before the Maturity Date will be subject to an MVA. An MVA will not apply upon payment of a death benefit upon the death of the annuitant. The MVA is determined through the use of a factor, which is known as the MVA Factor. This factor is discussed in detail in the section entitled "The Market Value Adjustment." The MVA could cause an increase or decrease or no change at all in the amount of the distribution from an Accumulation Period. A market value adjustment will be imposed on transfers or surrenders (partial or full) from the Guaranteed Interest Account with Market Value Adjustment in most states. A MARKET VALUE ADJUSTMENT WILL NOT BE IMPOSED ON CONTRACTS ISSUED IN THE STATES OF MARYLAND, THE COMMONWEALTH OF MASSACHUSETTS, NEW JERSEY, OKLAHOMA, OREGON, THE COMMONWEALTH OF PENNSYLVANIA, SOUTH CAROLINA, TEXAS AND WASHINGTON; HOWEVER, RESTRICTIONS ON TRANSFERS APPLY IN THESE STATES. The adjustment can be either a positive or negative adjustment. No adjustment is made for the amount withdrawn or transferred within 30 days before the end of the accumulation period. -------------------------------------------------------------------------------- FUND VALUE -- The aggregate dollar value as of any Business Day of all amounts accumulated under each of the subaccounts, the Guaranteed Interest Account with Market Value Adjustment, and the Loan Account of the Contract. If the term Fund Value is preceded or followed by the terms subaccount(s), the Guaranteed Interest Account with Market Value Adjustment, and the Loan Account, or any one or more of those terms, Fund Value means only the Fund Value of the subaccount, the Guaranteed Interest Account with Market Value Adjustment or the Loan Account, as the context requires. BUSINESS DAY -- Our "business day" is generally any day the New York Stock Exchange is open for regular trading and generally ends at 4:00 p.m. Eastern Time (or as of an earlier close of regular trading). A business day does not include a day on which we are not open due to emergency conditions determined by the Securities and Exchange Commission. We may also close early due to such emergency conditions. MONTHLY CONTRACT ANNIVERSARY -- The date of each month corresponding to the Effective Date of the Contract. For example, for a Contract with a June 15 Effective Date, the Monthly Contract Anniversary is the 15th of each month. If a Contract's Effective Date falls on the 29th, 30th or 31st day of a month, the Monthly Contract Anniversary will be the earlier of that day or the last day of the particular month in question. -------------------------------------------------------------------------------- 6 SUMMARY OF THE CONTRACT TRANSFER OF FUND VALUE You may transfer Fund Value among the subaccounts and to or from the Guaranteed Interest Account with Market Value Adjustment. Transfers from the Guaranteed Interest Account with Market Value Adjustment may be subject to a Market Value Adjustment for contracts issued in certain states. Transfers may be made by telephone, facsimile or via the web if the proper form has been completed, signed, and received by the Company at its Operations Center. See the cover page for how to contact the Operations Center. (See "Transfers.") CONTRACT LOANS Under certain qualified contracts, you may borrow up to 50% of your Contract's Fund Value from the Company. Your Contract will be the only security required for the loan. Contracts issued to 401(k) plans are generally the only Contracts which permit loans. An amount equal to the amount of the loan is transferred to the loan account as security for the loan. The loan account is part of the Company's General Account. We will charge you interest on the amount borrowed. If you do not pay the interest when due, the amount due will be borrowed from the Contract's Fund Value. SURRENDER You may surrender all or part of the Contract at any time and receive its cash value while the Annuitant is alive prior to the annuity starting date. We may impose a surrender charge and market value adjustment (if applicable). The amounts you receive upon surrender may be subject to income taxes and a 10% penalty tax if you are younger than 59 1/2 at the time of surrender. (See "Federal tax status.") CHARGES AND DEDUCTIONS The Contract provides for the deduction of various charges and expenses from the Fund Value of the Contract. RIGHT TO RETURN CONTRACT PROVISION This information is no longer applicable, as these contracts are no longer available to new purchasers. You have the right to examine the Contract when you receive it. You may return the Contract for any reason during the "right to return contract period" (usually within ten days from the day you receive it. You will receive a refund of the Purchase Payments received by the Company, less any partial surrender you made. During the right to return contract period, Purchase Payments will be retained in the Company's General Account and will earn interest at a rate not less than 3.50% per year. If you have not returned the Contract at the end of the right to return contract period, we transfer the Net Purchase Payments with interest to the subaccounts and/or the Guaranteed Interest Account. DEATH BENEFIT If the Annuitant (and the Secondary Annuitant, if any) dies before the annuity starting date a death benefit will be payable to the Beneficiary. Under certain circumstances, an enhanced death benefit may be payable. If the Annuitant dies after annuity payments start, no death benefit is payable except as may be payable under the settlement option selected. (See "Death benefit" and "Enhanced death benefit.") -------------------------------------------------------------------------------- ANNUITANT -- The person upon whose continuation of life any annuity payment depends. SECONDARY ANNUITANT -- The party designated by the Owner to become the Annuitant, subject to certain conditions, on the death of the Annuitant. BENEFICIARY -- The party entitled to receive benefits payable at the death of the Annuitant or (if applicable) the Secondary Annuitant. ANNUITY STARTING DATE -- Attainment of age 95, or at the discretion of the Owner of the Contract, a date that is at least ten years from the Effective Date of the Contract. -------------------------------------------------------------------------------- SUMMARY OF THE CONTRACT 7 FEE TABLES The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering the Contract. The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender the Contract, transfer Fund Value between investment options, or for Contracts funding 401(k) plans only, take a loan. A charge for taxes may also be deducted. ------------------------------------------------------------------------------- OWNER TRANSACTION EXPENSES: ------------------------------------------------------------------------------- Maximum deferred sales load (surrender charge) (as a percentage of Purchase Payments surrendered) 7.00%/(1)/ Loan interest spread (effective annual rate) 2.50%/(2)/ Maximum transfer charge $25/(3)/ The next table describes the fees and expense that you will pay periodically during the time that you own the Contract, not including Fund portfolio company fees and expenses. Maximum annual contract charge $50/(4)/ ------------------------------------------------------------------------------- SEPARATE ACCOUNT ANNUAL EXPENSES (AS A PERCENTAGE OF AVERAGE ANNUAL FUND VALUE IN MONY AMERICA VARIABLE ACCOUNT A): ------------------------------------------------------------------------------- Maximum mortality and expense risk fees 1.35%/(5)/ ---------- Total separate account annual expenses 1.35%/(5)/ -------------------------------------------------------------------------------
(1)The surrender charge percentage, which reduces to zero, is determined under a surrender charge schedule. (See "Deductions from fund value -- Amount of surrender charge.") The surrender charge may be reduced under certain circumstances which include reduction in order to guarantee that certain amounts may be received free of surrender charge. (See "Charges against fund value -- Free partial surrender amount.") (2)The loan interest spread is the difference between the amount of interest we charge on loans and the amount of interest we credit to amounts held in the loan account to secure loans. (3)The transfer charge currently is $0. However, the Company has reserved the right to impose a charge for each transfer, which will not exceed $25 (except for Contracts issued in the states of South Carolina and Texas where it will not exceed $10). (See "Charges against fund value -- Transfer charge.") (4)The annual contract charge is currently $0. However, the Company may in the future change the amount of the charge to an amount not exceeding $50 per contract year (except for contracts issued in the states of Maryland, Massachusetts, New Jersey, Oklahoma, Oregon, Commonwealth of Pennsylvania, South Carolina, Texas and Washington where the charge may not exceed $30). (See "Charges against fund value -- Annual contract charge.") (5)The mortality and expense risk charge is deducted daily equivalent to a current annual rate of 1.35% (and is guaranteed not to exceed a daily rate equivalent to an annual rate of 1.35%) from the value of the net assets of MONY America Variable Account A. The next item shows the minimum and maximum total operating expenses charged by the portfolio companies for the year ended December 31, 2011. You may pay portfolio company operating expenses periodically during the time that you own the Contract. Certain variable investment options invest in a corresponding portfolio of one of the Trusts or other unaffiliated investment companies. Each portfolio, in turn, invests in shares of other portfolios of the Trusts and/or shares of unaffiliated portfolios ("underlying portfolios"). More detail concerning each Fund portfolio company's fees and expenses is contained in the prospectus for each portfolio. --------------------------------------------------------------------------- TOTAL ANNUAL FUND PORTFOLIO OPERATING EXPENSES --------------------------------------------------------------------------- Total Annual Portfolio Operating Expenses for 2011 Lowest Highest (expenses that are deducted from portfolio assets including management fees, 12b-1 fees, service fees, and/or other 0.27% 1.71% expenses)/(1)/ ---------------------------------------------------------------------------
(1)"Total Annual Portfolio Operating Expenses" are based, in part, on estimated amounts for options added during the fiscal year 2011, if applicable, and for the underlying portfolios. In addition, the "Minimum" represents the total annual operating expenses of the Dreyfus Stock Index Portfolio -- Initial Shares. The "Maximum" represents the total annual operating expenses of the ProFund VP Bear Portfolio. EXAMPLE This example is intended to help you compare the cost of investing in the Contract with the cost of investing in other variable annuity contracts. These costs include Owner transaction expenses, contract fees, separate account annual expenses, and Fund fees and expenses for the year ended December 31, 2011. The example assumes that you invest $10,000 in the Contract for the time periods indicated. The example also assumes that your investment has a 5% return each year. The example assumes the maximum contract charges and annual expenses of any of the Fund portfolios (before expense limitations) set forth in the previous charts. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: 1. a.If you surrender your Contract at the end of the applicable time period (assuming maximum fees and expenses of any of the Fund portfolios):
-------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS -------------------------------- $998 $1,656 $2,329 $3,827 --------------------------------
8 SUMMARY OF THE CONTRACT b.If you surrender your Contract at the end of the applicable time period (assuming minimum fees and expenses of any of the Fund portfolios):
-------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS -------------------------------- $863 $1,254 $1,659 $2,452 --------------------------------
2. a.If you do not surrender your Contract (assuming maximum fees and expenses of any of the Fund portfolios):
-------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS -------------------------------- $359 $1,091 $1,845 $3,827 --------------------------------
b.If you do not surrender your Contract (assuming minimum fees and expenses of any of the Fund portfolios):
-------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS -------------------------------- $215 $664 $1,139 $2,452 --------------------------------
3. a.If you annuitize your Contract and the proceeds are settled under Settlement Options 3 or 3A (life income with annuity options) (assuming maximum fees and expenses of any of the Fund portfolios):
-------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS -------------------------------- $998 $1,091 $1,845 $3,827 --------------------------------
b.If you annuitize your Contract and the proceeds are settled under Settlement Options 3 or 3A (life income with annuity options) (assuming minimum fees and expenses of any of the Fund portfolios):
-------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS -------------------------------- $863 $664 $1,139 $2,452 --------------------------------
4. a.If you annuitize your Contract and the proceeds are settled under Settlement Options 1, 2 or 4 (annuity income without life contingencies) (assuming maximum fees and expenses of any of the Fund portfolios):
-------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS -------------------------------- $998 $1,656 $2,329 $3,827 --------------------------------
b.If you annuitize your Contract and the proceeds are settled under Settlement Options 1, 2 or 4 (annuity income without life contingencies) (assuming minimum fees and expenses of any of the Fund portfolios):
-------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS -------------------------------- $863 $1,254 $1,659 $2,452 --------------------------------
For the purposes of the Fee Tables and the Example, we assume that the Contract is owned during the accumulation period. (See "Charges and Deductions.") On and after the annuity starting date, different fees and charges will apply. OTHER CONTRACTS We offer a variety of fixed and variable annuity Contracts. They may offer features, including investment options, fees and/or charges that are different from those in the Contracts offered by this Prospectus. Not every Contract is offered through the same distributor. Upon request, your registered representative can show you information regarding other annuity Contracts that he or she distributes. You can also contact us to find out more about any of MONY Life Insurance Company of America annuity Contracts. CONDENSED FINANCIAL INFORMATION Please see Appendix I at the end of this prospectus for the unit values and the number of units outstanding as of the end of the period shown for each of the variable investment options available as of December 31, 2011. SUMMARY OF THE CONTRACT 9 2. Who is MONY Life Insurance Company of America? -------------------------------------------------------------------------------- MONY LIFE INSURANCE COMPANY OF AMERICA We are MONY Life Insurance Company of America (the "Company"), an Arizona stock life insurance corporation organized in 1969. The Company is an indirect, wholly-owned subsidiary of AXA Financial, Inc. (the "parent"), a holding company, which is itself an indirect, wholly-owned subsidiary of AXA SA ("AXA"). AXA is a French holding company for an international group of insurance and related financial services companies. As the ultimate sole shareholder of the Company, and under its other arrangements with the Company and parent, AXA exercises significant influence over the operations and capital structure of the Company and its parent. AXA holds its interest in the Company through a number of other intermediate holding companies, including Oudinot Participations, AXA America Holdings Inc. AXA Equitable Financial Services, LLC, and MONY Life Insurance Company, a life insurance company. The Company is obligated to pay all amounts that are promised to be paid under the contracts. No company other than the Company, however, has any legal responsibility to pay amounts that the Company owes under the contracts. AXA Financial, Inc. and its consolidated subsidiaries managed approximately $508.0 billion in assets as of December 31, 2011. The Company is licensed to sell life insurance and annuities in forty-nine states (not including New York), the District of Columbia, the U.S. Virgin Islands and Puerto Rico. Our home office is located at 1290 Avenue of the Americas, New York, NY 10104. 10 WHO IS MONY LIFE INSURANCE COMPANY OF AMERICA? HOW TO REACH US To obtain (1) any forms you need for communicating with us, (2) unit values and other values under your policy, and (3) any other information or materials that we provide in connection with your Contract or the Portfolios, you may communicate with our processing office as listed below for the purposes described. Please refer to "Telephone/ Fax/Web Transactions" for effective dates for processing telephone, Internet, and facsimile requests, later in this prospectus. Certain methods of contacting us, such as by telephone or electronically may be unavailable or delayed (for example our fax service may not be available at all times and/or we may be unavailable due to emergency closing). In addition, the level and type of service available may be restricted based on criteria established by us. In order to avoid delays in processing, please send your correspondence and check to the appropriate location, as follows: -------------------------------------------------------------------------------- FOR CORRESPONDENCE WITH CHECKS: FOR SUBSEQUENT CONTRIBUTIONS SENT BY REGULAR MAIL: MONY Life Insurance Company of America P.O. Box 5064 New York, NY 10087-5064 FOR SUBSEQUENT CONTRIBUTIONS SENT BY EXPRESS DELIVERY: JPMorgan Chase -- Lockbox Processing Lockbox -- MONY Life Insurance Company of America --LBX 5064 4 Chase Metrotech Center 7th Floor East Brooklyn, NY 11245 -------------------------------------------------------------------------------- FOR CORRESPONDENCE WITHOUT CHECKS: FOR ALL OTHER COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY MAIL: MONY Life Insurance Company of America Policyholder Services 100 Madison Street Syracuse, New York 13202 Your correspondence will be picked up at the mailing address noted above and delivered to our processing office. Your correspondence, however, is not considered received by us until it is received at our processing office. Where this prospectus refers to the day when we receive a contribution, request, election, notice, transfer or any other transaction request from you, we mean the day on which that item (or the last thing necessary for us to process that item) arrives in complete and proper form at our processing office or via the appropriate telephone or fax number if the item is a type we accept by those means. There are two main exceptions: if the item arrives (1) on a day that is not a business day or (2) after the close of a business day, then, in each case, we are deemed to have received that item on the next business day. Our processing office is: 100 Madison Street, Syracuse, New York 13202. -------------------------------------------------------------------------------- BY TOLL-FREE PHONE: Customer service representatives are available weekdays from 9:00 a.m. to 5:00 p.m., Eastern Time at 1-800-487-6669. -------------------------------------------------------------------------------- BY INTERNET: Clients may access Online Account Access by visiting our Website at www.axa-equitable.com. Our Website provides access to account information and customer service. After enrolling and setting up a password, you can view account details, perform certain transactions, print customer service forms and find answers to Frequently Asked Questions (FAQs). You can also change your allocation percentages, transfer among investment options, make a payment, and/or change your address (1) by toll-free phone, (2) over the Internet, through Online Account Access, or (3) by writing our Operations Center. For more information about the transaction requests you can make by phone, fax or internet, see "Telephone/fax/web transactions" later in this prospectus. MONY AMERICA VARIABLE ACCOUNT A MONY America Variable Account A is a separate investment account of the Company. Presently, only Purchase Payments for individual flexible payment variable annuity contracts are permitted to be allocated to MONY America Variable Account A. The assets in MONY America Variable Account A are kept separate from the General Account assets and other separate accounts of the Company. The Company owns the assets in MONY America Variable Account A. The Company is required to keep assets in MONY America Variable Account A that equal the total market value of the contract liabilities funded by MONY America Variable Account A. Realized or unrealized income gains or losses of MONY America Variable Account A are credited or charged against MONY America Variable Account A assets without regard to the other income, gains or losses of the Company. Reserves and other liabilities under the contracts are assets of MONY America Variable Account A. MONY America Variable Account A assets are not chargeable with liabilities of the Company's other businesses. The assets of MONY America Variable Account A are, however, available to cover the liabilities of the Company's General Account to the extent that the assets of MONY America Variable Account A exceed the liabilities of the Contracts supported by it. The amount of some of our obligations under the Contracts is based on the assets in MONY America Variable Account A. However, the obligations themselves are obligations of the Company. MONY America Variable Account A was authorized by the Board of Directors of the Company and established under Arizona law on March 27, 1987. MONY America Variable Account A is registered under the Investment Company Act of 1940 (the "1940 Act") and is registered and classified under that act as a "unit investment trust". The SEC, however, does not manage or supervise the Company or MONY America Variable Account A. Although MONY America Variable Account A is registered, the Securities and Exchange Commission (the "SEC") does not monitor the activity of MONY America Variable Account A on a daily basis. The Company is not required to register, and is not registered, as an investment company under the "1940 Act". A unit investment trust is a type of investment company. For state law purposes, MONY America Variable Account A is treated as a part or division of the Company. MONY America Variable Account A is divided into subdivisions called subaccounts. Each subaccount invests only in shares of a designated portfolio of the Funds. For example, the EQ/Core Bond Index Subaccount invests solely in shares of the EQ/Core Bond Index Portfolio of the EQ Advisors Trust. These portfolios serve only as the underlying investment for variable annuity and variable life insurance contracts issued through separate accounts of the Company or other life insurance companies. The portfolios may also be available to certain pension accounts. The portfolios are not available directly to individual investors. In the future, we reserve the right, in compliance with the laws that apply, to establish additional subaccounts; eliminate subaccounts; combine any two or more subaccounts; transfer the assets we determine to be the shares of the class of contracts to which the contracts belong from any subaccount to another subaccount; restrict or eliminate any voting rights as to the MONY America Variable Account A; and cause one or more subaccounts to invest some or all of their assets in one or more other trusts or investment companies of MONY America Variable Account A if marketing needs, tax conditions, or investment conditions warrant. Future subaccounts may invest in other portfolios of the Funds or in other securities, as permitted by applicable law. Any new subaccounts may be made available to existing contracts on a basis to be determined by us. If any of these changes are made, we may, by appropriate endorsement, change the Contract to reflect the change. WHO IS MONY LIFE INSURANCE COMPANY OF AMERICA? 11 3. The Funds -------------------------------------------------------------------------------- Each available subaccount of MONY America Variable Account A will invest only in the shares of the Funds. We offer both affiliated and unaffiliated Funds, which in turn offer one or more portfolios. There is a separate subaccount, which corresponds to each portfolio of a fund offered under the Contract. AXA Equitable Funds Management Group, LLC, a wholly owned subsidiary of AXA Equitable, serves as the investment manager of the portfolios of AXA Premier VIP Trust and EQ Advisors Trust. For some portfolios, AXA Equitable Funds Management Group, LLC has entered into sub-advisory agreements with investment advisers (the "sub-advisers") to carry out the day-to-day investment decisions for the portfolios. As such, AXA Equitable Funds Management Group, LLC oversees the activities of the sub-advisers with respect to the Trusts and is responsible for retaining or discontinuing the services of those sub-advisers. The chart below indicates the sub-adviser(s) for each portfolio, if any. The chart below also shows the currently available portfolios and their investment objectives. You should be aware that AXA Advisors, LLC and AXA Distributors, LLC (together, the "Distributors") directly or indirectly receive 12b-1 fees from affiliated portfolios for providing certain distribution and/or shareholder support services. These fees will not exceed 0.25% of the portfolios' average daily net assets. The affiliated portfolios' sub-advisers and/or their affiliates may also contribute to the cost of expenses for sales meetings or seminar sponsorships that may relate to the policies and/or the sub-advisers' respective portfolios. It may be more profitable for us to offer affiliated portfolios than to offer unaffiliated portfolios. The Funds are registered with the SEC under the 1940 Act. The Funds, or any of them, may withdraw from sale any or all the respective portfolios as allowed by applicable law. Not all Funds may be available in all states or in all markets. AXA Equitable or the Distributors may directly or indirectly receive 12b-1 fees and additional payments from certain unaffiliated portfolios, their advisers, sub-advisers, distributors or affiliates, for providing certain administrative, marketing, distribution and/or shareholder support services. These fees and payments range from 0% to 0.60% of the unaffiliated portfolios' average daily net assets. The Distributors may also receive payments from the advisers or sub-advisers of the unaffiliated portfolios or their affiliates for certain distribution services, including expenses for sales meetings or seminar sponsorships that may relate to the contracts and/or the advisers' respective portfolios. As a contract owner, you may bear the costs of some or all of these fees and payments through your indirect investment in the portfolios. (See the portfolios' prospectuses for more information.) These fees and payments will reduce the underlying portfolios' investment returns. AXA Equitable may profit from these fees and payments. AXA Equitable considers the availability of these fees and payment arrangements during the selection process for the underlying portfolios. These fees and payment arrangements may create an incentive for us to select portfolios (and classes of shares of portfolios) that pay us higher amounts. You should note that some portfolios have objectives and strategies that are substantially similar to those of certain funds that are purchased directly rather than under a variable insurance product such as the Contract. These portfolios may even have the same manager(s) and/or a similar name. However, there are numerous factors that can contribute to differences in performance between two investments, particularly over short periods of time. Such factors include fees; the timing of stock purchases and sales; differences in fund cash flows; and specific strategies employed by the portfolio manager. The AXA Allocation Portfolios offer contract owners a convenient opportunity to invest in other portfolios that are managed and have been selected for inclusion in the AXA Allocation Portfolios by AXA Equitable Funds Management Group, LLC, the investment manager of the AXA Premier VIP Trust and EQ Advisors Trust. AXA Advisors, LLC, an affiliated broker-dealer of the Company, may promote the benefits of such portfolios to contract owners and/or suggest, incidental to the sale of this Contract, that contract owners consider whether allocating some or all of their account value to such portfolios is consistent with their desired investment objectives. In doing so, AXA Equitable, and/or its affiliates, may be subject to conflicts of interest insofar as AXA Equitable may derive greater revenues from the AXA Allocation Portfolios than certain other portfolios available to you under your Contract. Please see "Payment and allocation of Purchase Payments" in "Detailed information about the Contract" for more information about your role in managing your allocations. As described in more detail in the underlying Fund prospectuses, the AXA Allocation Portfolios and certain other affiliated Portfolios, use futures and options to reduce the Portfolio's equity exposure during periods when certain market indicators indicate that market volatility is high. This strategy is designed to reduce the risk of market losses from investing in equity securities. However, this strategy may result in periods of underperformance, including those when the specified benchmark index is appreciating, but market volatility is high. As a result, your Fund Value may rise less than it would have without these defensive actions. If you have an enhanced death benefit, this strategy may also indirectly suppress the value of your enhanced death benefit. The investment strategies of the Portfolios are designed to reduce the overall volatility of your Fund Value. The reduction in volatility permits us to more effectively and efficiently provide the benefits under the contract. This approach, while reducing volatility, may also suppress the investment performance of your contract and the value of your enhanced death benefit. 12 THE FUNDS
--------------------------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST INVESTMENT MANAGER (OR SUB-ADVISER(S), PORTFOLIO NAME SHARE CLASS OBJECTIVE AS APPLICABLE) --------------------------------------------------------------------------------------------------------------------------- AXA AGGRESSIVE Class B Seeks long-term capital appreciation. AXA Equitable Funds Management ALLOCATION/(1)/ Group, LLC --------------------------------------------------------------------------------------------------------------------------- AXA CONSERVATIVE Class B Seeks a high level of current income. AXA Equitable Funds Management ALLOCATION/(1)/ Group, LLC --------------------------------------------------------------------------------------------------------------------------- AXA CONSERVATIVE-PLUS Class B Seeks current income and growth of capi- AXA Equitable Funds Management ALLOCATION/(1)/ tal, with a greater emphasis on current Group, LLC income. --------------------------------------------------------------------------------------------------------------------------- AXA MODERATE Class B Seeks long-term capital appreciation and AXA Equitable Funds Management ALLOCATION/(1)/ current income. Group, LLC --------------------------------------------------------------------------------------------------------------------------- AXA MODERATE-PLUS Class B Seeks long-term capital appreciation and AXA Equitable Funds Management ALLOCATION/(1)/ current income, with a greater emphasis Group, LLC on capital appreciation. --------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP Class B Seeks to achieve long-term growth of capi- AXA Equitable Funds Management GROWTH tal with an emphasis on risk-adjusted re- Group, LLC turns and managing volatility in the BlackRock Investment Portfolio. Management, LLC Lord, Abbett & Co. LLC Morgan Stanley Investment Man- agement Inc. NorthPointe Capital, LLC --------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST INVESTMENT MANAGER (OR SUB-ADVISER(S), PORTFOLIO NAME SHARE CLASS OBJECTIVE AS APPLICABLE) --------------------------------------------------------------------------------------------------------------------------- ALL ASSET GROWTH-ALT Class IB Seeks long-term capital appreciation and AXA Equitable Funds Management 20/(2)/ current income. Group, LLC --------------------------------------------------------------------------------------------------------------------------- EQ/BLACKROCK BASIC VALUE Class IB Seeks to achieve capital appreciation and BlackRock Investment EQUITY secondarily, income. Management, LLC --------------------------------------------------------------------------------------------------------------------------- EQ/BOSTON ADVISORS Class IB Seeks a combination of growth and in- Boston Advisors, LLC EQUITY INCOME come to achieve an above-average and consistent total return. --------------------------------------------------------------------------------------------------------------------------- EQ/CALVERT SOCIALLY Class IA Seeks to achieve long-term capital Calvert Investment Manage- RESPONSIBLE appreciation. ment, Inc. --------------------------------------------------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN Class IA Seeks to achieve long-term growth of Capital Guardian Trust Company RESEARCH capital. --------------------------------------------------------------------------------------------------------------------------- EQ/CORE BOND INDEX Class IA Seeks to achieve a total return before AXA Equitable Funds Management expenses that approximates the total re- Group, LLC turn performance of the Barclays SSgA Funds Management, Inc. Intermediate U.S. Government/Credit In- dex, including reinvestment of dividends, at a risk level consistent with that of the Barclays Intermediate U.S. Government/ Credit Index. --------------------------------------------------------------------------------------------------------------------------- EQ/EQUITY GROWTH PLUS Class IB Seeks to achieve long-term growth of AXA Equitable Funds Management capital with an emphasis on risk-adjusted Group, LLC returns and managing volatility in the BlackRock Capital Management, Portfolio. Inc. BlackRock Investment Man- agement, LLC --------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO MERGERS AND Class IB Seeks to achieve capital appreciation. GAMCO Asset Management, Inc. ACQUISITIONS --------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO SMALL COMPANY Class IB Seeks to maximize capital appreciation. GAMCO Asset Management, Inc. VALUE ---------------------------------------------------------------------------------------------------------------------------
THE FUNDS 13
--------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST INVESTMENT MANAGER (OR SUB-ADVISER(S), PORTFOLIO NAME SHARE CLASS OBJECTIVE AS APPLICABLE) --------------------------------------------------------------------------------------------------------------------------- EQ/INTERMEDIATE Class IA Seeks to achieve a total return before AXA Equitable Funds Management GOVERNMENT BOND/(3)/ expenses that approximates the total re- Group, LLC turn performance of the Barclays SSgA Funds Management, Inc. Intermediate U.S. Government Bond In- dex, including reinvestment of dividends, at a risk level consistent with that of the Barclays Intermediate U.S. Government Bond Index. --------------------------------------------------------------------------------------------------------------------------- EQ/LARGE CAP VALUE INDEX Class IA Seeks to achieve a total return before SSgA Funds Management, Inc. expenses that approximates the total re- turn performance of the Russell 1000 Value Index, including reinvestment of dividends, at a risk level consistent with that of the Russell 1000 Value Index. --------------------------------------------------------------------------------------------------------------------------- EQ/MFS INTERNATIONAL Class IB Seeks to achieve capital appreciation. Massachusetts Financial Services GROWTH Company d/b/a MFS Investment Management --------------------------------------------------------------------------------------------------------------------------- EQ/MID CAP INDEX Class IA Seeks to achieve a total return before SSgA Funds Management, Inc. expenses that approximates the total re- turn performance of the S&P Mid Cap 400 Index, including reinvestment of divi- dends, at a risk level consistent with that of the S&P Mid Cap 400 Index. --------------------------------------------------------------------------------------------------------------------------- EQ/MID CAP VALUE PLUS Class IA Seeks to achieve long-term capital AXA Equitable Funds Management appreciation with an emphasis on risk- Group, LLC adjusted returns and managing volatility BlackRock Investment in the Portfolio. Management, LLC Wellington Management Company, LLP --------------------------------------------------------------------------------------------------------------------------- EQ/MONEY MARKET Class IA Seeks to obtain a high level of current The Dreyfus Corporation income, preserve its assets and maintain liquidity. --------------------------------------------------------------------------------------------------------------------------- EQ/MONTAG & CALDWELL Class IB Seeks to achieve capital appreciation. Montag & Caldwell, LLC GROWTH --------------------------------------------------------------------------------------------------------------------------- EQ/MORGAN STANLEY MID Class IA Seeks to achieve capital growth. Morgan Stanley Investment CAP GROWTH Management Inc. --------------------------------------------------------------------------------------------------------------------------- EQ/PIMCO ULTRA SHORT BOND Class IB Seeks to generate a return in excess of Pacific Investment Management traditional money market products while Company, LLC maintaining an emphasis on preservation of capital and liquidity. --------------------------------------------------------------------------------------------------------------------------- EQ/QUALITY BOND PLUS Class IB Seeks to achieve high current income con- AllianceBernstein L.P. sistent with moderate risk to capital. AXA Equitable Funds Management Group, LLC --------------------------------------------------------------------------------------------------------------------------- EQ/T. ROWE PRICE GROWTH Class IB Seeks to achieve long-term capital T. Rowe Price Associates, Inc. STOCK appreciation and secondarily, income. --------------------------------------------------------------------------------------------------------------------------- EQ/UBS GROWTH AND INCOME Class IB Seeks to achieve total return through capi- UBS Global Asset Management tal appreciation with income as a secon- (Americas) Inc. dary consideration. --------------------------------------------------------------------------------------------------------------------------- DREYFUS STOCK INDEX FUND, INC. - INITIAL INVESTMENT MANAGER (OR SUB-ADVISER(S), SHARES OBJECTIVE AS APPLICABLE) --------------------------------------------------------------------------------------------------------------------------- DREYFUS STOCK INDEX The fund seeks to match the total return The Dreyfus Corporation FUND, INC. of the Standard & Poor's 500(R) Composite Index Fund Manager: Mellon Stock Price Index. Capital Management ---------------------------------------------------------------------------------------------------------------------------
14 THE FUNDS
---------------------------------------------------------------------------------------------------------------- FIDELITY(R) VARIABLE INSURANCE PRODUCTS INVESTMENT MANAGER (OR SUB-ADVISER(S), (VIP) - SERVICE CLASS OBJECTIVE AS APPLICABLE) ---------------------------------------------------------------------------------------------------------------- FIDELITY(R) VIP Seeks long-term capital appreciation. Fidelity Management and Research CONTRAFUND(R) PORTFOLIO Company (FMR) ---------------------------------------------------------------------------------------------------------------- FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST - CLASS INVESTMENT MANAGER (OR SUB-ADVISER(S), 2 PORTFOLIO NAME OBJECTIVE AS APPLICABLE) ---------------------------------------------------------------------------------------------------------------- FRANKLIN INCOME Seeks to maximize income while Franklin Advisers, Inc. SECURITIES FUND maintaining prospects for capital appreciation. ---------------------------------------------------------------------------------------------------------------- FRANKLIN RISING Seeks long-term capital appreciation, with Franklin Advisory Services, LLC DIVIDENDS SECURITIES preservation of capital as an important FUND consideration. ---------------------------------------------------------------------------------------------------------------- JANUS ASPEN SERIES INVESTMENT MANAGER (OR SUB-ADVISER(S), - INSTITUTIONAL SHARES OBJECTIVE AS APPLICABLE) ---------------------------------------------------------------------------------------------------------------- BALANCED PORTFOLIO Seeks long-term capital growth, con- Janus Capital Management LLC sistent with preservation of capital and balanced by current income. ---------------------------------------------------------------------------------------------------------------- ENTERPRISE PORTFOLIO Seeks long-term growth of capital. Janus Capital Management LLC ---------------------------------------------------------------------------------------------------------------- FORTY PORTFOLIO/(4)/ Seeks long-term growth of capital. Janus Capital Management LLC ---------------------------------------------------------------------------------------------------------------- WORLDWIDE PORTFOLIO Seeks long-term growth of capital. Janus Capital Management LLC ---------------------------------------------------------------------------------------------------------------- OPPENHEIMER VARIABLE ACCOUNT FUNDS - SERVICE INVESTMENT MANAGER (OR SUB-ADVISER(S), CLASS OBJECTIVE AS APPLICABLE) ---------------------------------------------------------------------------------------------------------------- OPPENHEIMER GLOBAL Seeks long-term capital appreciation by OppenheimerFunds, Inc. SECURITIES FUND/VA investing a substantial portion of its as- sets in securities of foreign issuers, "growth-type" companies, cyclical in- dustries and special situations that are considered to have appreciation possibil- ities. ---------------------------------------------------------------------------------------------------------------- PIMCO VARIABLE INSURANCE TRUST - INVESTMENT MANAGER (OR SUB-ADVISER(S), ADMINISTRATIVE CLASS OBJECTIVE AS APPLICABLE) ---------------------------------------------------------------------------------------------------------------- PIMCO VIT GLOBAL BOND Seeks maximum total return, consistent Pacific Investment Management PORTFOLIO (UNHEDGED) with preservation of capital and prudent Company, LLC investment management. ---------------------------------------------------------------------------------------------------------------- PROFUNDS VP PORTFOLIO INVESTMENT MANAGER (OR SUB-ADVISER(S), NAME OBJECTIVE AS APPLICABLE) ---------------------------------------------------------------------------------------------------------------- PROFUND VP BEAR Seeks daily investment results, before fees ProFund Advisors, LLC and expenses, that correspond to the in- verse (-1x) of the daily performance of the S&P 500(R) Index. ---------------------------------------------------------------------------------------------------------------- PROFUND VP RISING RATES Seeks daily investment results, before fees ProFund Advisors, LLC OPPORTUNITY and expenses, that correspond to one and one-quarter times the inverse (-1.25x) of the daily price movement of the most re- cently issued 30-year U.S. Treasury Bond ("Long Bond"). ---------------------------------------------------------------------------------------------------------------- PROFUND VP ULTRABULL Seeks daily investment results, before fees ProFund Advisors, LLC and expenses that correspond to twice (2x) the daily performance of the S&P 500(R) Index. ----------------------------------------------------------------------------------------------------------------
(1)The "AXA Allocation" portfolios. (2)This is the Portfolio's new name, effective on or about May 21, 2012, subject to regulatory approval. The Portfolio's former name was All Asset Allocation. (3)This is the Portfolio's new name, effective on or about May 1, 2012. The Portfolio's former name was EQ/Intermediate Government Bond Index. (4)Unlike the other Funds, the Janus Aspen Forty Portfolio is a nondiversified, open-end management investment company. A nondiversified Fund may hold a larger position in a smaller number of securities than a diversified Fund. This means that a single security's increase or decrease in value may have a greater impact on the return and net asset value of a nondiversified Fund than a diversified Fund. THE FUNDS 15 YOU SHOULD CONSIDER THE INVESTMENT OBJECTIVES, RISKS AND CHARGES AND EXPENSES OF THE PORTFOLIOS CAREFULLY BEFORE INVESTING. SHARE CLASSES, WHERE APPLICABLE, ARE DEFINED IN THE CORRESPONDING FUND PROSPECTUS. THE PROSPECTUSES FOR THE FUND CONTAIN THIS AND OTHER IMPORTANT INFORMATION ABOUT THE PORTFOLIOS. THE PROSPECTUSES SHOULD BE READ CAREFULLY BEFORE INVESTING. IN ORDER TO OBTAIN COPIES OF FUND PROSPECTUSES THAT DO NOT ACCOMPANY THIS PROSPECTUS, YOU MAY CALL ONE OF OUR CUSTOMER SERVICE REPRESENTATIVES AT 1-800-487-6669. Each Owner should periodically review their allocation of Purchase Payments and Fund Value among the subaccounts and the Guaranteed Interest Account with Market Value Adjustment in light of their current objectives, the current market conditions, and the risks of investing in each of the Funds' various portfolios. A full description of the objectives, policies, restrictions, risks and expenses for each of the Funds' portfolios can be found in the prospectus for each of the Funds. PURCHASE OF PORTFOLIO SHARES BY MONY AMERICA VARIABLE ACCOUNT A MONY America Variable Account A will buy and redeem shares from the Funds at net asset value. Shares will be redeemed when needed for the Company to: . collect charges under the Contracts; . pay Cash Value on full surrenders of the Contract; . fund partial surrenders; . provide benefits under the Contracts; and . transfer assets from one subaccount to another or between one or more subaccounts of MONY America Variable Account A and the Guaranteed Interest Account with Market Value Adjustment as requested by Owners. Any dividend or capital gain distribution received from a portfolio of a Fund will be: . reinvested immediately at net asset value in shares of that portfolio; and . kept as assets of the corresponding subaccount. -------------------------------------------------------------------------------- CASH VALUE -- The Contract's Fund Value, less (1) any applicable surrender charge, (2) any outstanding debt, and (3) any applicable market value adjustment. -------------------------------------------------------------------------------- Shares of the Funds are not sold directly to the general public. They are sold to the Company, and may be sold to other insurance companies that issue variable annuity and variable life insurance contracts. In addition, they may be sold to retirement plans. When a Fund sells shares in any of its portfolios both to variable annuity and to variable life insurance company separate accounts, it engages in mixed funding. When a Fund sells shares in any of its portfolios to separate accounts of unaffiliated life insurance companies, it engages in shared funding. Each Fund may engage in mixed and shared funding. Therefore, due to differences in redemption rates or tax treatment, or other considerations, the interests of various shareholders participating in a Fund could conflict. The Board of Directors or Trustees of each of the Funds monitors the respective Fund for the existence of material irreconcilable conflict between the interests of variable annuity Owners and variable life insurance Owners. The Boards shall report any such conflict to the boards of the Company and its affiliates. The Boards of Directors of the Company and its affiliates have agreed to be responsible for reporting any potential or existing mixed and shared funding conflicts to the Directors and Trustees of each of the relevant Funds. The Boards of Directors of the Company and its affiliates will remedy any conflict at their own cost. The remedy may include establishing a new registered management investment company and segregating the assets underlying the variable annuity contracts and the variable life insurance contracts. The investment objectives and policies of certain portfolios are similar to the investment objectives and policies of other portfolios that may be managed by the same investment adviser or manager. The investment results of the portfolios, however, may be higher or lower than the results of such other portfolios. There can be no assurance, and no representation is made that the investment results of any of the portfolios will be comparable to the investment results of any other portfolio, even if the other portfolio has the same investment adviser or manager, or if the other portfolio has a similar name. 16 THE FUNDS 4. Detailed information about the Contract -------------------------------------------------------------------------------- The Fund Value in MONY America Variable Account A and in the Guaranteed Interest Account with Market Value Adjustment provide many of the benefits of your Contract. The information in this section describes the benefits, features, charges and major provisions of the Contract and the extent to which those depend upon the Fund Value, particularly the Fund Value in MONY America Variable Account A. There may be differences in your Contract, such as differences in fees, charges and benefits because of the state where we issued your Contract. We will include any such differences in your Contract. PAYMENT AND ALLOCATION OF PURCHASE PAYMENTS ISSUANCE OF THE CONTRACT Disclosure regarding contract issuance and minimum initial Purchase Payments is for informational purposes only. This Contract is no longer available to new purchasers. The Contract is between you and the Company. The Contract is not an investment advisory account, and the Company is not providing any investment advice or managing the allocations under your Contract. In the absence of a specific written arrangement to the contrary, you as the owner of the Contract, have the sole authority to make investment allocations and other decisions under the Contract. Your AXA Advisors' financial professional is acting as a broker-dealer registered representative, and is not authorized to act as an investment advisor or to manage the allocations under your Contract. If your financial professional is a registered representative with a broker-dealer other than AXA Advisors, you should speak with him/her regarding any different arrangements that may apply. Individuals who want to buy a Contract must: (1)Complete an application; (2)Personally deliver the application to; (a)a licensed agent of the Company who is also a registered representative of AXA Advisors, LLC or AXA Distributors, LLC (together, the "Distributors") who act as the principal underwriters for the Contracts, or (b)a licensed agent who is also a registered representative of a broker dealer which had been authorized by the Distributors to sell the Contract; and (3)Pay the minimum initial Purchase Payment. If we receive a completed application and all other information necessary for processing a purchase order at our Operations Center, we will apply your initial Purchase Payment no later than two Business Days after we receive the order. While attempting to finish an incomplete application, we may hold your initial Purchase Payment for no more than five Business Days. If an incomplete application cannot be completed within those five days, we will inform you of the reasons, and will return your Purchase Payment immediately (unless you specifically authorize us to keep it until the application is complete). Once you complete your application, we must apply the initial Purchase Payment within two Business Days. We will apply any additional Purchase Payments you make on the Business Day we receive them at our Operations Center. The Contract may be used with certain tax qualified plans. The Contract includes attributes such as tax deferral on accumulated earnings. Qualified retirement plans provide their own tax deferral benefit; the purchase of this Contract does not provide additional tax deferral benefits beyond those provided in the Qualified Plan. Accordingly, if you are purchasing this Contract, you should purchase it for its death benefit, annuity benefits, and other non-tax related benefits. Please consult a tax adviser for information specific to your circumstances in order to determine whether the Contract is an appropriate investment for you. The minimum initial Purchase Payment for individuals varies depending upon the use of the Contract and the method of purchase. The chart below shows the minimum initial Purchase Payment for each situation. -------------------------------------------------------------------------------------------------------------------------------- USE OF CONTRACT OR METHOD OF MAKING PURCHASE PAYMENT MINIMUM INITIAL PURCHASE PAYMENT -------------------------------------------------------------------------------------------------------------------------------- Individual retirement accounts and annuities under $2,000 Section 408 of the Code (other than Simplified Employee Pensions), including Roth IRAs under Section 408A of the Code -------------------------------------------------------------------------------------------------------------------------------- Non-Qualified Contracts $2,000 -------------------------------------------------------------------------------------------------------------------------------- H.R. 10 plans (self-employed individuals' retirement plans $600 under Section 401 of the Code), certain corporate or association retirement plans, and Simplified Employee Pensions under Section 408 of the Code -------------------------------------------------------------------------------------------------------------------------------- Annuity purchase plans sponsored by certain tax-exempt $600 organizations, governmental entities and deferred compensation plans under Section 457 of the Code -------------------------------------------------------------------------------------------------------------------------------- Payroll deduction and automatic checking account withdrawal Annualized rate of $600 (i.e., $600 per year, $300 semiannually, plans $150 quarterly or $50 per month) -------------------------------------------------------------------------------------------------------------------------------- Government Allotment Plans $50 per month --------------------------------------------------------------------------------------------------------------------------------
DETAILED INFORMATION ABOUT THE CONTRACT 17 -------------------------------------------------------------------------------- GOVERNMENT ALLOTMENT PLANS -- Payroll deduction plans used for financial products by government employees. -------------------------------------------------------------------------------- Additional Purchase Payments may be made at any time before the Annuity starting date as long as the Annuitant is living. However, for certain automatic payment plans, the smallest additional payment is $50. The Company reserves the right to revise its rules from time to time to specify different minimum Purchase Payments for such plans. In addition, the prior approval of the Company is needed before it will accept a Purchase Payment if, with that Payment, that would cause Cumulative Purchase Payments, less any partial surrenders and their surrender charges and market value adjustment, to exceed $1,500,000. The Company reserves the right to reject an application for any reason permitted by law. Net Purchase Payments received before the Effective Date will be held in the Company's General Account and will be credited with interest at not less than 3.50% per year if: (1)the Contract is issued by the Company, and (2)the Contract is delivered to the Owner. No interest will be paid if the Contract is not issued or if it is declined by the Owner. These amounts will be held in the General Account pending end of the right to return contract period. (See below.) -------------------------------------------------------------------------------- EFFECTIVE DATE -- The date the contract begins as shown in the Contract. -------------------------------------------------------------------------------- TAX-FREE "SECTION 1035" EXCHANGES This information is no longer applicable to the purchase of these Contracts as these Contracts are no longer available to new purchasers. The Owner can generally exchange one annuity contract for another in a "tax-free exchange" under Section 1035 of the Internal Revenue Code. Similar rules may apply to changing the funding vehicle in a Qualified Plan. Before making the exchange, the Owner should compare both contracts carefully. Remember that if you exchange another contract for the one described in this prospectus, you might have to pay a surrender charge on the old contract. There will be a new surrender charge period for this Contract and other charges may be higher (or lower) and the benefits may be different. If the exchange does not qualify for Section 1035 treatment, the Owner may have to pay federal income tax, and penalty taxes on the exchange. The Owner should not exchange another contract for this one unless he or she determines, after knowing all the facts, that the exchange is in the Owner's best interest and not just better for the person trying to sell the Owner this Contract (that person will generally earn a commission if the Owner buys this Contract through an exchange or otherwise). RIGHT TO RETURN CONTRACT PROVISION This information is no longer applicable, as these contracts are no longer available to new purchasers. The Owner may return the Contract during the right to return contract period (usually within 10 days of the delivery date). The Contract must be returned to the Company or any agent of the Company. When the Company receives the Contract, it will be voided as if it were never in effect. The amount to be refunded is equal to the Purchase Payments received by the Company less any partial surrender you made. During the right to return contract period, Purchase Payments will be retained in the Company's General Account and will earn interest at a rate not less than 3.50% per year. If you have not returned the Contract at the end of the right to return contract period, we transfer the Net Purchase Payments with interest to the subaccounts and/or the Guaranteed Interest Account. For contracts issued in the State of Washington, an additional 10% penalty will be added to any Purchase Payment refund due that is not paid within 30 days of return of the Contract to the Company. For contracts issued in the State of Oklahoma, if payment is delayed more than 30 days, the Company will pay interest on the proceeds at a rate required by Oklahoma law. ALLOCATION OF PURCHASE PAYMENTS AND FUND VALUE ALLOCATION OF PAYMENTS. On the application, the Owner may allocate Net Purchase Payments to any of the available subaccounts of MONY America Variable Account A or to the Guaranteed Interest Account with Market Value Adjustment. Net Purchase Payments (and any interest thereon) are held in the General Account if they are received before the end of the right to return contract period. The Net Purchase Payments will earn interest at a rate not less than 3.50% per year beginning on the later of: (1)the Effective Date of the Contract, or (2)the date the Payment is received at the Company's Operations Center. Net Purchase Payments will continue to earn 3.50% annual interest until the right to return contract period expires. (See "Right to return contract provision" above.) After the right to return contract period has expired, the Contract's Fund Value will automatically be transferred to MONY America Variable Account A subaccount(s) or to the Guaranteed Interest Account with Market Value Adjustment according to the Owner's allocation instructions. After the right to return contract period ends, under a non-automatic payment plan, if the Owner does not: (1)specify the amount to be allocated among subaccounts, or (2)specify the percentage to be allocated among subaccounts, or (3)the amount or percentage specified is incorrect or incomplete, the Net Purchase Payments will be allocated under the Owner's most recent instructions on record with the Company. The percentage specified must not be less than 10% of the Net Purchase Payment. For automatic payment plans, Net Purchase Payments will be allocated according to the Owner's most recent instructions on record. The Owner may change the specified allocation formula for future Net Purchase Payments at any time without charge by sending written notification to the Company at the Operations Center. Prior allocation instructions may also be changed by telephone, facsimile or via the Web subject to the rules of the Company and its right to terminate or modify telephone, facsimile or via the Web allocation. The Company reserves the right to deny any telephone, facsimile or via the Web allocation request. (See "Telephone/fax/web transactions.") Any such 18 DETAILED INFORMATION ABOUT THE CONTRACT change, whether made in writing or by telephone, facsimile or via the Web, will be effective within 7 days of the date we receive notice of the change. Net Purchase Payments may be allocated in whole percentages to any of the available subaccounts and to the Guaranteed Interest Account. Allocations must be in whole percentages, and no allocation may be for less than 10% of a Net Purchase Payment. Allocation percentages must total 100%. Contracts issued in the states of Maryland, New Jersey, Oklahoma, Oregon, South Carolina, Texas and Washington and the Commonwealths of Massachusetts and Pennsylvania must maintain a minimum fund value balance of $2,500 in the Guaranteed Interest Account when an allocation to said account is chosen. CALCULATING UNIT VALUES FOR EACH SUBACCOUNT When allocated Purchase Payments are received they are credited to subaccounts of MONY America Variable Account A in the form of units. The number of units is determined by dividing the dollar amount allocated to a particular subaccount by the unit value for that subaccount for the Business Day on which the Purchase Payment is received. To determine the unit value of a subaccount on each Business Day, the Company takes the prior Business Day's unit value and multiplies it by the Net Investment Factor for the current Business Day. The Net Investment Factor is used to measure the investment performance of a subaccount from one Business Day to the next. The Net Investment Factor for each subaccount equals: (1)the net asset value per share of each Fund held in the subaccount at the end of the current Business Day divided by (2)the net asset value per share of each Fund held in the subaccount at the end of the prior Business day, minus (3)the daily mortality and expense risk charge and any other applicable charges adjusted for the number of calendar days in the period. The unit value of these subaccounts may increase, decrease or remain the same from Business Day to Business Day. The unit value depends on the investment performance of the portfolio of the Fund in which the subaccount invests and any expenses and charges deducted from MONY America Variable Account A. The Owner bears the entire investment risk. Owners should periodically review their allocations of payments and values in light of market conditions and overall financial planning requirements. CALCULATION OF GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT FUND VALUE Net Purchase Payments to be allocated to the Guaranteed Interest Account with Market Value Adjustment will be credited to the Accumulation Period chosen by the Owner on: (1)the date received at the Operations Center, or (2)if the day Net Purchase Payments are received is not a Business Day, then on the next Business Day. Interest will be credited daily. CALCULATION OF FUND VALUE The Contract's Fund Value will reflect: . The investment performance of the selected subaccount(s) of MONY America Variable Account A; . Amounts credited (including interest) to the Guaranteed Interest Account with Market Value Adjustment; . Any amount in the loan account; . Any Net Purchase Payments; . Any transfer charges; . Any partial surrenders; and . All contract charges (including surrender charges and market value adjustments) imposed. There is no guaranteed minimum Fund Value, except to the extent Net Purchase Payments have been allocated to the Guaranteed Interest Account with Market Value Adjustment. Because a Contract's Fund Value at any future date will be dependent on a number of variables, it cannot be predetermined. The Fund Value will be computed first on the Effective Date and thereafter on each Business Day. On the Effective Date, the Contract's Fund Value will be the Net Purchase Payments received plus any interest credited on those Payments during the period when Net Purchase Payments are held in the General Account. (See "Issuance of the Contract.") After amounts allocated to the subaccounts are transferred from the General Account to MONY America Variable Account A, on each Business Day, the Contract's Fund Value will be computed as follows: (1)Determine the aggregate of the Fund Values attributable to the Contract in each of the subaccounts on that Business Day. This is done by multiplying the subaccount's unit value on that date by the number of subaccount units allocated to the Contract. The computation of the Contract's Fund Value in the subaccount is done before any other Contract transactions on that Business Day. (2)Add any amount credited to the Guaranteed Interest Account with Market Value Adjustment before that Business Day. This amount is the aggregate of all Net Purchase Payments allocated to the Guaranteed Interest Account with Market Value Adjustment and: . The addition of any interest credited. . Addition or subtraction of any amounts transferred. . Subtraction of any partial surrenders. . Subtraction of any contract charges, surrender charges, transfer charges, and any Market Value Adjustments (3)Add the value held in the loan account to secure contract loans and interest credited on that day on that amount; (4)Add any Net Purchase Payment received on that Business Day; (5)Subtract any partial surrender amount (reflecting any surrender charge and Market Value Adjustment) made on that Business Day; DETAILED INFORMATION ABOUT THE CONTRACT 19 (6)Subtract any annual contract charge and/or transfer charge deductible on that Business Day. Regarding (1) above, for each subaccount we multiply the number of units credited to that subaccount by its unit value on that Business Day. The multiplication is done BEFORE the purchase or redemption of any units on that Business Day. If a transaction would ordinarily require that the Contract's Fund Value be computed for a day that is not a Business Day, the next following Business Day will be used. TRANSFERS. You may transfer the value of the Contract among the subaccounts after the right to return contract period has expired by sending a proper written request to the Company's Operations Center. Transfers may be made by telephone, facsimile or via the web if you have proper authorization. (See "Telephone/fax/web transactions.") Transfers from a subaccount will be executed at the net asset value next calculated by the Company if the transfer instruction is received and acknowledged by 4:00 p.m., Eastern Time on a day on which the New York Stock Exchange is open for business. If the New York Stock Exchange is not open for business on the day of receipt, the transfer instruction will be executed at the net asset value calculated at the close of business on the first day thereafter on which the New York Stock Exchange is open for business. Such transfers are subject to the Company's rules and conditions for such privilege. Currently, there are no limitations on the number of transfers between subaccounts. Our current transfer restrictions are set forth in the "Disruptive transfer activity" section below. Transfers among, to and from subaccounts may be postponed for any period during which: (1)the New York Stock Exchange is closed other than customary weekend and holiday closings, or (2)trading on the New York Stock Exchange is restricted as determined by the Securities and Exchange Commission, or (3)an emergency exists as a result of which disposal of securities held by the Fund is not reasonably practicable or it is not reasonably practicable to determine the value of the net assets of the Fund. A transfer charge is not currently imposed on transfers. (See "Charges against fund value -- Transfer charge.") However, the Company reserves the right to impose a charge which will not exceed $25 per transfer (except for contracts issued in the states of South Carolina and Texas where it will not exceed $10). If imposed the charge will be deducted from the first subaccount(s) or the Guaranteed Interest Account with Market Value Adjustment Accumulation Period you designate funds to be transferred from. This charge is in addition to the amount transferred. All transfers in a single request are treated as one transfer transaction. A transfer resulting from the first reallocation of Fund Value at the end of the right to return contract period and transfers made at the end of an Accumulation Period of amounts allocated to the Guaranteed Interest Account with Market Value Adjustment (see below) will not be subject to a transfer charge. Under present law, transfers are not taxable transactions. -------------------------------------------------------------------------------- EFFECTIVE DATE -- The date shown as the Effective Date of the Contract. -------------------------------------------------------------------------------- TRANSFERS INVOLVING THE GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT. Transfers may be made from the Guaranteed Interest Account with Market Value Adjustment at any time, but, if they are made before the end of the 3, 5, 7, or 10 year accumulation period there will be a market value adjustment for contracts issued in most states. If the transfer request is received within 30 days before the end of the Accumulation Period, no market value adjustment will apply. Contracts issued in Maryland, New Jersey, Oklahoma, South Carolina, Texas and Washington and the Commonwealths of Massachusetts and Pennsylvania, to the extent the Owner allocates investments to the Guaranteed Interest Account, must maintain a minimum Fund Value in the Guaranteed Interest Account of $2,500. Please see "Payment and allocation of Purchase Payments" earlier in this section for more information about your role in managing your allocations. PORTFOLIO REBALANCING Our portfolio rebalancing program can help prevent a well-conceived investment strategy from becoming diluted over time. Investment performance will likely cause the allocation percentages you originally selected to shift. With this program, you may instruct us to periodically reallocate values in your Contract. The program does not guarantee an investment gain or protect against an investment loss. You may elect or terminate the rebalancing program at any time. You may also change your allocations under the program at any time. Requesting a transfer while enrolled in our rebalancing program will automatically terminate your participation in the program. This means that your account will no longer be rebalanced on a periodic basis. You must provide us with written instructions if you wish your account to be rebalanced in the future. TELEPHONE/FAX/WEB TRANSACTIONS Prior allocation instructions may be changed or transfers requested by telephone, fax or via the web subject to the Company's guidelines (which we believe to be reasonable) and the Company's right to modify or terminate the telephone/fax/web privilege. The Company reserves the right to deny any telephone, fax or web request. If all telephone lines are busy or the internet is not available (for example, during periods of substantial market fluctuations), Owners may be unable to request telephone, fax or web allocation changes or transfers by telephone, fax or web. In such cases, an Owner would submit a written request. We have adopted guidelines relating to changes of allocations and transfers by telephone, fax or the web which, among other things, outlines procedures designed to prevent unauthorized instructions. If the Owner does not follow these procedures: (1)the Company shall not be liable for any loss as a result of following fraudulent telephone, fax or web instructions; and (2)the Owner will, therefore, bear the entire risk of loss due to fraudulent telephone, fax or web instructions. A copy of the guidelines and our form for electing telephone/facsimile transfer privileges is available from your financial professional or by calling us at 1-800-487-6669, Monday through Friday, 9 a.m. to 5 p.m., Eastern Time. Web transfer privileges and a copy of the 20 DETAILED INFORMATION ABOUT THE CONTRACT guidelines and forms are available online at www.axaonline.com. The telephone or fax allocation and transfer privileges may also be elected by completing the telephone or fax authorization. The Company's form or a Contract application with a completed telephone or fax authorization must be signed and received at the Company's Operations Center before telephone or fax allocation instructions will be accepted. To elect web allocation and transfer privileges, you must log on to www.axaonline.com, and register for online account access. This online application must be electronically signed and received by the Company via the internet before web transaction instructions will be accepted. SPECIAL NOTE ON RELIABILITY. Please note that the internet and our telephone system may not always be available. Any system, whether it is yours, your service provider's, or your registered representative's, can experience unscheduled outages or slowdowns for a variety of reasons. These outages or slowdowns may delay or prevent our processing of your request. Although we have taken precautions to help our systems handle heavy use, we cannot promise complete reliability under all circumstances. If you are experiencing problems, you can make your transactions by writing our Operations Center. DISRUPTIVE TRANSFER ACTIVITY You should note that the Contract is not designed for professional "market timing" organizations, or other organizations or individuals engaging in a market timing strategy. The Contract is not designed to accommodate programmed transfers, frequent transfers or transfers that are large in relation to the total assets of the underlying portfolio. Frequent transfers, including market timing and other program trading or short-term trading strategies, may be disruptive to the underlying portfolios in which the subaccounts invest. Disruptive transfer activity may adversely affect performance and the interests of long-term investors by requiring a portfolio to maintain larger amounts of cash or to liquidate portfolio holdings at a disadvantageous time or price. For example, when market timing occurs, a portfolio may have to sell its holdings to have the cash necessary to redeem the market timer's investment. This can happen when it is not advantageous to sell any securities, so the portfolio's performance may be hurt. When large dollar amounts are involved, market timing can also make it difficult to use long-term investment strategies because a portfolio cannot predict how much cash it will have to invest. In addition, disruptive transfers or purchases and redemptions of portfolio investments may impede efficient portfolio management and impose increased transaction costs, such as brokerage costs, by requiring the portfolio manager to effect more frequent purchases and sales of portfolio securities. Similarly, a portfolio may bear increased administrative costs as a result of the asset level and investment volatility that accompanies patterns of excessive or short-term trading. Portfolios that invest a significant portion of their assets in foreign securities or the securities of small- and mid-capitalization companies tend to be subject to the risks associated with market timing and short-term trading strategies to a greater extent than portfolios that do not. Securities trading in overseas markets present time zone arbitrage opportunities when events affecting portfolio securities values occur after the close of the overseas market but prior to the close of the U.S. markets. Securities of small- and mid-capitalization companies present arbitrage opportunities because the market for such securities may be less liquid than the market for securities of larger companies, which could result in pricing inefficiencies. Please see the prospectuses for the underlying portfolios for more information on how portfolio shares are priced. We currently use the procedures described below to discourage disruptive transfer activity. You should understand, however, that these procedures are subject to the following limitations: (1) they primarily rely on the policies and procedures implemented by the underlying portfolios; (2) they do not eliminate the possibility that disruptive transfer activity, including market timing, will occur or that portfolio performance will be affected by such activity; and (3) the design of market timing procedures involves inherently subjective judgments, which we seek to make in a fair and reasonable manner consistent with the interests of all policy and contract owners. We offer subaccounts with underlying portfolios that are part of the AXA Premier VIP Trust and EQ Advisors Trust, as well as subaccounts with underlying portfolios of outside trusts with which AXA Equitable has entered participation agreements (the "unaffiliated trusts" and, collectively with AXA Premier VIP Trust and EQ Advisors Trust, the "trusts"). The trusts have adopted policies and procedures regarding disruptive transfer activity. They discourage frequent purchases and redemptions of portfolio shares and will not make special arrangements to accommodate such transactions. They aggregate inflows and outflows for each portfolio on a daily basis. On any day when a portfolio's net inflows or outflows exceed an established monitoring threshold, the trust obtains from us contract owner trading activity. The affiliated trusts currently consider transfers into and out of (or vice versa) the same subaccount within a five business day period as potentially disruptive transfer activity. When a Contract is identified in connection with potentially disruptive transfer activity for the first time, a letter is sent to the Contract owner explaining that there is a policy against disruptive transfer activity and that if such activity continues certain transfer privileges may be eliminated. If and when the contract owner is identified a second time as engaged in potentially disruptive transfer activity under the Contract, we currently prohibit the use of voice, fax and automated transaction services. We currently apply such action for the remaining life of each affected contract. We or a trust may change the definition of potentially disruptive transfer activity, the monitoring procedures and thresholds, any notification procedures, and the procedures to restrict this activity. Any new or revised policies and procedures will apply to all contract owners uniformly. We do not permit exceptions to our policies restricting disruptive transfer activity. Each unaffiliated trust may have its own policies and procedures regarding disruptive transfer activity. If an unaffiliated trust advises us that there may be disruptive activity from one of our contract owners, we will work with the unaffiliated trust to review contract owner trading activity. Each trust reserves the right to reject a transfer that it believes, in its sole discretion, is disruptive (or potentially disruptive) to the management of one of its portfolios. Please see the prospectuses for the trusts for more information. It is possible that a trust may impose a redemption fee designed to discourage frequent or disruptive trading by contract owners. As of the date of this prospectus, the trusts had not implemented such a fee. If a redemption fee is implemented by a trust, that fee, like any other trust fee, will be borne by the contract owner. DETAILED INFORMATION ABOUT THE CONTRACT 21 Contract owners should note that it is not always possible for us and the underlying trusts to identify and prevent disruptive transfer activity. In addition, because we do not monitor for all frequent trading at the separate account level, contract owners may engage in frequent trading which may not be detected, for example, due to low net inflows or outflows on the particular day(s). Therefore, no assurance can be given that we or the trusts will successfully impose restrictions on all potentially disruptive transfers. Because there is no guarantee that disruptive trading will be stopped, some contract owners may be treated differently than others, resulting in the risk that some contract owners may be able to engage in frequent transfer activity while others will bear the effect of that frequent transfer activity. The potential effects of frequent transfer activity are discussed above. TERMINATION OF THE CONTRACT The Contract will remain in effect until the earlier of: (1)the date the Contract is surrendered in full, (2)the date annuity payments start, (3)the Contract Anniversary on which, after deduction for any annual contract charge then due, no Fund Value in the subaccounts and the Guaranteed Interest Account with Market Value Adjustment remains in the Contract, or (4)the date the death benefit is payable under the Contract. 22 DETAILED INFORMATION ABOUT THE CONTRACT 5. Description of the Guaranteed Interest Account with Market Value Adjustment -------------------------------------------------------------------------------- GENERAL The Guaranteed Interest Account with Market Value Adjustment is an allocation option available under the Contract. The Guaranteed Interest Account with Market Value Adjustment may not be available in every state jurisdiction. The guarantees associated with the Guaranteed Interest Account with Market Value Adjustment are borne exclusively by the Company. The guarantees associated with the Guaranteed Interest Account with Market Value Adjustment are legal obligations of the Company. Fund Values allocated to the Guaranteed Interest Account with Market Value Adjustment are held in the General Account of the Company. Amounts allocated to the General Account of the Company are subject to the liabilities arising from the business the Company conducts. The Company has sole investment discretion over the investment of the assets of its General Account. Owners having allocated amounts to a particular Accumulation Period of the Guaranteed Interest Account with Market Value Adjustment, however, will have no claim against any particular assets of the Company. The Guaranteed Interest Account with Market Value Adjustment provides for a Specified Interest Rate, which is a guaranteed interest rate that will be credited as long as any amount allocated to the Guaranteed Interest Account with Market Value Adjustment is not distributed for any reason prior to the Maturity Date of the particular Accumulation Period chosen by the Owner. Generally, a 3-year Accumulation Period offers guaranteed interest at a Specified Interest Rate over three years, a 5-year Accumulation Period offers guaranteed interest at a Specified Interest Rate over five years, and so on. Because the Maturity Date is the Monthly Contract Anniversary immediately prior to the 3, 5, 7 or 10 year anniversary of the start of the Accumulation Period, the Accumulation Period may be up to 31 days shorter than the 3, 5, 7 or 10 years, respectively. Although the Specified Interest Rate will continue to be credited as long as Fund Value remains in an Accumulation Period of the Guaranteed Interest Account with Market Value Adjustment prior to the Maturity Date of that Accumulation Period, surrenders or transfers (including transfers to the Loan Account as a result of a request by the Owner for a Loan) will be subject to a Market Value Adjustment, as described below. Market Value Adjustments do not apply upon annuitization under Settlement Option 3 or 3A. Market Value Adjustments do not apply for partial or full surrenders or transfers requested within 30 days before the end of the Accumulation Period, nor to any benefits paid upon the death of the Annuitant. The Market Value Adjustment does apply to benefits paid upon death of the Owner. Market Value Adjustments also do not apply to contracts issued in certain states. GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT The Guaranteed Interest Account with Market Value Adjustment is a part of the Company's General Account and consists of all the Company's assets other than assets allocated to segregated investment accounts of the Company, including MONY America Variable Account A. -------------------------------------------------------------------------------- MARKET VALUE ADJUSTMENT -- An amount added to or deducted from the amount surrendered or transferred from the Guaranteed Interest Account with Market Value Adjustment for contracts issued in certain states. ACCUMULATION PERIOD -- Currently 3, 5, 7 and 10 years. The Period starts on the Business Day that falls on, or next follows the date the Purchase Payment is transferred into the Guaranteed Interest Account with Market Value Adjustment and ends on the monthly contract anniversary immediately prior to the last day of that Period. (THE ACCUMULATION PERIOD IS LIMITED TO ONE YEAR FOR CONTRACTS ISSUED IN THE STATES OF MARYLAND, NEW JERSEY, OKLAHOMA, OREGON, SOUTH CAROLINA, TEXAS, WASHINGTON AND THE COMMONWEALTHS OF MASSACHUSETTS AND PENNSYLVANIA.) CONTRACT YEAR -- Any period of twelve (12) months commencing with the Effective Date and each Contract Anniversary thereafter. CONTRACT ANNIVERSARY -- An anniversary of the Effective Date of the Contract. GENERAL ACCOUNT -- The General Account of the Company which consists of all of the Company's assets other than those assets allocated to the Company's separate accounts. -------------------------------------------------------------------------------- ALLOCATIONS TO THE GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT There are three sources from which allocations to the Guaranteed Interest Account with Market Value Adjustment may be made: (1)an initial Purchase Payment made under a Contract may be wholly or partially allocated to the Guaranteed Interest Account with Market Value Adjustment; (2)a subsequent or additional Purchase Payment made under a Contract may be partially or wholly allocated to the Guaranteed Interest Account with Market Value Adjustment; and (3)amounts transferred from Subaccounts available under the Contract may be wholly or partially allocated to the Guaranteed Interest Account with Market Value Adjustment. There is no minimum amount of any allocation of either Purchase Payments or transfers of Fund Value to the Guaranteed Interest Account with Market Value Adjustment. The 1-year Accumulation Period (which is limited to certain states in which there is no Market Value Adjustment), requires the Guaranteed Interest Account to have a minimum Fund Value of $2,500 when an allocation to said account is chosen. SPECIFIED INTEREST RATES AND THE ACCUMULATION PERIODS SPECIFIED INTEREST RATES The Specified Interest Rate, at any given time, is the rate of interest guaranteed by the Company to be credited to allocations made to the DESCRIPTION OF THE GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT 23 Accumulation Period for the Guaranteed Interest Account with Market Value Adjustment chosen by the Owner, so long as no portion of the allocation is distributed for any reason prior to the Maturity Date of the Accumulation Period. Different Specified Interest Rates may be established for the four different Accumulation Periods which are currently available (3, 5, 7 and 10 years). (The Accumulation Period is limited to one year for contracts issued in the states of Maryland, New Jersey, Oklahoma, Oregon, South Carolina, Texas and Washington and the Commonwealths of Massachusetts and Pennsylvania.) The Company declares Specified Interest Rates for each of the available Accumulation Periods from time to time. Normally, new Specified Interest Rates will be declared monthly; however, depending on interest rate fluctuations, declarations of new Specified Interest Rates may occur more or less frequently. The Company observes no specific method in the establishment of the Specified Interest Rates, but generally will attempt to declare Specified Interest Rates which are related to interest rates associated with fixed-income investments available at the time and having durations and cash flow attributes compatible with the Accumulation Periods then available for the Guaranteed Interest Account with Market Value Adjustment. In addition, the establishment of Specified Interest Rates may be influenced by other factors, including competitive considerations, administrative costs and general economic trends. The Company has no way of predicting what Specified Interest Rates may be declared in the future and there is no guarantee that the Specified Interest Rate for any of the Accumulation Periods will exceed the guaranteed minimum effective annual interest rate of 3.50%. OWNERS BEAR THE RISK THAT THE SPECIFIED INTEREST RATE WILL NOT EXCEED THE GUARANTEED MINIMUM RATE. The period of time during which a particular Specified Interest Rate is in effect for new allocations to the then available Accumulation Periods is referred to as the Investment Period. All allocations made to an Accumulation Period during an Investment Period are credited with the Specified Interest Rate in effect. An Investment Period ends only when a new Specified Interest Rate relative to the Accumulation Period in question is declared. Subsequent declarations of new Specified Interest Rates have no effect on allocations made to Accumulation Periods during prior Investment Periods. All such prior allocations will be credited with the Specified Interest Rate in effect when the allocation was made for the duration of the Accumulation Period selected. Information concerning the Specified Interest Rates in effect for the various Accumulation Periods can be obtained by contacting an agent of the Company who is also a registered representative of AXA Advisors, LLC or by calling the following toll free telephone number: (800) 487-6669. The Specified Interest Rate is credited on a daily basis to allocations made to an Accumulation Period elected by the Owner, resulting in an annual effective yield which is guaranteed by the Company, unless amounts are surrendered, transferred or paid out on death of Annuitant from that Accumulation Period for any reason prior to the Maturity Date for that Accumulation Period. The Specified Interest Rate will be credited for the entire Accumulation Period. If amounts are surrendered or transferred from the Accumulation Period for any reason prior to the Maturity Date, a Market Value Adjustment will be applied to the amount surrendered or transferred. CREDITING OF INTEREST The entire initial Purchase Payment always earns interest at a rate not less than 3.50% per year until the end of the right to return contract period. When the right to return contract period ends, the entire initial Purchase Payment plus interest earned is transferred to the selected subaccounts and/or Guaranteed Interest Account with Market Value Adjustment accumulation periods. Any Net Purchase Payments you as Owner of the Contract allocate to the Guaranteed Interest Account with Market Value Adjustment will be credited with interest at the rate declared by the Company for the specified period selected. The Company guarantees that the rate credited will not be less than 3.50% annually (0.0094%, compounded daily). You bear the risk that we will not declare an annual interest rate in excess of 3.50% per year. If you allocate Purchase Payments (or transfer fund value) to the Guaranteed Interest Account with Market Value Adjustment, you will choose between Accumulation Periods of 3, 5, 7, or 10 years for Contracts issued in most states. The Accumulation Period is limited to one year for contracts issued in the states of Maryland, New Jersey, Oklahoma, Oregon, South Carolina, Texas and Washington and the Commonwealths of Massachusetts and Pennsylvania. Before the beginning of each calendar month, the Company will declare interest rates for each period, if those rates will be higher than the guaranteed rate. Each interest rate declared by the Company will be applicable for all Net Purchase Payments received or transfers from MONY America Variable Account A completed within the period during which it is effective. Amounts you allocate to the Accumulation Period you select will receive this interest rate for the entire Accumulation Period. Within 45 days, but not less than 15 days before the Accumulation Period expires, we will notify you of the new rates we are then declaring. When the period expires you can (1) elect a new Accumulation Period of 3, 5, 7, or 10 years (except in certain states where the Accumulation Period is limited to a one year period) or (2) you may elect to transfer the amounts allocated to the expiring Accumulation Period to MONY America Variable Account A. If you make no election within 30 days of the end of an Accumulation Period, the entire amount allocated to the expiring Accumulation Period will automatically be held for an Accumulation Period of the same length. If that period will extend beyond the annuity starting date or if that period is no longer offered, the money will be transferred into the Money Market subaccount. ACCUMULATION PERIODS For each Accumulation Period, the Specified Interest Rate in effect at the time of the allocation to that Accumulation Period is guaranteed. An Accumulation Period always ends on a Maturity Date, which is the Monthly Contract Anniversary immediately prior to the 3, 5, 7 or 10 year anniversary of the start of the Accumulation Period. Therefore, the Specified Interest Rate may be credited for up to 31 days less than the full 3, 5, 7 or 10 years. (The Accumulation Period is limited to one year for contracts issued in the states of Maryland, New Jersey, Oklahoma, Oregon, South Carolina, Texas and Washington and the Commonwealths of Massachusetts and Pennsylvania.) For example, if the Effective Date of a Contract is August 10, 2000 and an allocation is made to a 10 year Accumulation Period on August 15, 2000 and the funds for a new Purchase Payment are received on that day, the Accumulation Period will begin on August 15, 24 DESCRIPTION OF THE GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT 2000 and end on August 10, 2010, during which period the Specified Interest Rate will be credited. All Accumulation Periods for the 3, 5, 7, and 10 year Accumulation Periods, respectively, will be determined in a manner consistent with the foregoing example. END OF ACCUMULATION PERIODS At least fifteen days and at most forty-five days prior to the end of an Accumulation Period, the Company will send notice to the Owner of the impending Maturity Date. The notice will include the projected Fund Value held in the Accumulation Period on the Maturity Date and will specify the various options Owners may exercise with respect to the Accumulation Period: (1)During the thirty-day period before the Maturity Date, the Owner may wholly or partially surrender the Fund Value held in that Accumulation Period without a Market Value Adjustment; however, Surrender Charges under the Contract, if applicable, will be assessed. (2)During the thirty-day period before the Maturity Date, the Owner may wholly or partially transfer the Fund Value held in that Accumulation Period, without a Market Value Adjustment, to any Subaccount then available under the Contract or may elect that the Fund Value held in that Accumulation Period be held for an additional Accumulation Period of the same number of years or for another Accumulation Period of a different number of years which may at the time be available. A confirmation of any such transfer or election will be sent immediately after the transfer or election is processed. (3)If the Owner does not make an election within thirty days following the Maturity Date, the entire Fund Value held in the maturing Accumulation Period will be transferred to an Accumulation Period of the same number of years as the Accumulation Period which matured. The start of the new Accumulation Period is the ending date of the previous Accumulation Period. However, if that period would extend beyond the Annuity Starting Date of the Contract or if that period is not then made available by the Company, the Fund Value held in the maturing Accumulation Period will be automatically transferred to the Money Market Subaccount at the end of the Maturity Period. A confirmation will be sent immediately after the automatic transfer is executed. During the thirty day period following the Maturity Date, and prior to any of the transactions set forth in (1), (2), or (3) above, the Specified Value held in the maturing Accumulation Period will continue to be credited with the Specified Interest Rate in effect before the Maturity Date. SURRENDERS, TRANSFERS OR LOANS When you as Owner request that Contract Fund Value from the Guaranteed Interest Account with Market Value Adjustment be transferred to MONY America Variable Account A, surrendered, loaned to you, or used to pay any charge imposed in accordance with the Contract, you should tell the Company the source by interest rate Accumulation Period of amounts you request be transferred, surrendered, loaned, or used to pay charges. If you do not specify an Accumulation Period, your transaction will be processed using the Accumulation Periods in which money was most recently allocated. THE MARKET VALUE ADJUSTMENT GENERAL INFORMATION REGARDING THE MVA A surrender or transfer (including a transfer to the Loan Account as a result of a request by the Owner for a Loan) from the Guaranteed Interest Account with Market Value Adjustment prior to the Maturity Date of that particular Accumulation Period, will be subject to a Market Value Adjustment. A Market Value Adjustment will not apply upon annuitization under Settlement Option 3 or 3A, or upon payment of a death benefit. The Market Value Adjustment is determined by the multiplication of an MVA Factor by the Specified Value, or the portion of the Specified Value being surrendered or transferred (including transfers for the purpose of obtaining a Loan). The Specified Value is the amount of the allocation of Purchase Payments and transfers of Fund Value to an Accumulation Period of the Guaranteed Interest Account with Market Value Adjustment, plus interest accrued at the Specified Interest Rate minus prior distributions. The Market Value Adjustment may either increase or decrease the amount of the distribution. It will not apply to requests for transfer or full or partial surrenders received at our administrative office within 30 days before the end of the applicable Accumulation Period. The Market Value Adjustment is intended to approximate, without duplicating, the experience of the Company when it liquidates assets in order to satisfy contractual obligations. Such obligations arise when Owners request surrenders or transfers (including transfers for the purpose of obtaining a Loan). When liquidating assets, the Company may realize either a gain or a loss. A market value adjustment can increase or decrease the amounts surrendered or transferred from the Guaranteed Interest Account with Market Value Adjustment depending on current interest rate fluctuations. If prevailing interest rates are higher at the time of a surrender or transfer (including transfers for the purpose of obtaining a Loan) than the Specified Interest Rate in effect at the time the Accumulation Period commences, the Company will realize a loss when it liquidates assets in order to process a surrender or transfer (including transfers for the purpose of obtaining a Loan); therefore, application of the Market Value Adjustment under such circumstances will decrease the amount of the surrender or transfer (including transfers for the purpose of obtaining a Loan). Generally, if prevailing interest rates are lower than the Specified Interest Rate in effect at the time the Accumulation Period commences, the Company will realize a gain when it liquidates assets in order to process a surrender or transfer (including transfers for the purpose of obtaining a Loan); therefore, application of the MVA under such circumstances will generally increase the amount of the surrender or transfer (including transfers for the purpose of obtaining a Loan). The Company measures the relationship between prevailing interest rates and the Specified Interest Rates it declares through the MVA Factor. The MVA Factor is described more fully below. DESCRIPTION OF THE GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT 25 THE MVA FACTOR The formula for determining the MVA Factor is: [(1+a)/(1+b)]/((n-t)/12)/ - 1 Where: a =the Specified Interest Rate for the Accumulation Period from which the surrender, transfer or loan is to be taken; b =the Specified Interest Rate declared at the time a surrender or transfer is requested for an Accumulation Period equal to the time remaining in the Accumulation Period from which the surrender or transfer (including transfer to the Loan Account as a result of a request by the Owner for a Loan) is requested, plus 0.25%; n =the Accumulation Period from which the surrender or transfer occurs in months; and t =the number of elapsed months (or portion thereof) in the Accumulation Period from which the surrender or transfer occurs. If an Accumulation Period equal to the time remaining is not issued by the Company, the rate will be an interpolation between two available Accumulation Periods. If two such Accumulation Periods are not available, we will use the rate for the next available Accumulation Period. If the Company is no longer declaring rates on new payments, we will use Treasury yields adjusted for investment risk as the basis for the Market Value Adjustment. The MVA Factor shown above also accounts for some of the administrative and processing expenses incurred when fixed-interest investments are liquidated. This is represented in the addition of 0.25% in the MVA Factor. The MVA Factor will be multiplied by that portion of the Specified Value being surrendered, transferred, or distributed for any other reason. If the result is greater than zero, a gain will be realized by the Owner; if less than zero, a loss will be realized. If the MVA Factor is exactly zero, no gain or loss will be realized by the Owner. INVESTMENTS Amounts allocated to the Guaranteed Interest Account with Market Value Adjustment are transferred to the General Account of the Company. Amounts allocated to the General Account of the Company are subject to the liabilities arising from the business the Company conducts. This is unlike amounts allocated to the Subaccounts of the MONY America Variable Account A, which are not subject to the liabilities arising from the business the Company conducts. The Company has sole investment discretion over the investment of the assets of the General Account. We will invest these amounts primarily in investment-grade fixed income securities including: securities issued by the U.S. Government or its agencies or instrumentalities, which issues may or may not be guaranteed by the U.S. Government; debt securities that have an investment grade, at the time of purchase, within the four highest grades assigned by Moody's Investor Services, Inc., Standard & Poor's Corporation, or any other nationally recognized rating service; mortgage-backed securities collateralized by real estate mortgage loans or securities collateralized by other assets, that are insured or guaranteed by the Federal Home Loan Mortgage Association, the Federal National Home Mortgage Association, or the Government National Mortgage Association, or that have an investment grade at the time of purchase within the four highest grades described above; commercial and agricultural mortgage loans; other debt instruments; commercial paper; cash or cash equivalents. Variable annuity Owners having allocated amounts to a particular Accumulation Period of the Guaranteed Interest Account with Market Value Adjustment will not have a direct or indirect interest in these investments, nor will they have a claim against any particular assets of the Company. The overall investment performance of the General Account will not increase or decrease their claim against the Company. There is no specific formula for establishing Specified Interest Rates. The Specified Interest Rates declared by the Company for the various Accumulation Periods will not necessarily correspond to the performance of any group of assets of the General Account. We will consider certain factors in determining these rates, such as regulatory and tax environment, sales commissions, administrative expenses borne by us, and competitive factors. The Company's management will make the final determination of these rates. However, the Specified Interest Rate will never be less than 3.50%. 26 DESCRIPTION OF THE GUARANTEED INTEREST ACCOUNT WITH MARKET VALUE ADJUSTMENT 6. Surrenders -------------------------------------------------------------------------------- The Owner may elect to make a surrender of all or part of the Contract's Fund Value provided it is: . on or before the annuity payments start, and . during the lifetime of the Annuitant. Any such election shall specify the amount of the surrender. The surrender will be effective on the date a proper written request is received by the Company at its Operations Center. The amount of the surrender may be equal to the Contract's Cash Value, which is its Fund Value less: (1)any applicable surrender charge, (2)any applicable Market Value Adjustment, and (3)any outstanding debt. The Surrender may also be for a lesser amount (a "partial surrender"). Requested partial surrenders that would leave a Cash Value of less than $1,000 are treated and processed as a full surrender. In such case, the entire Cash Value will be paid to the Owner. For a partial surrender, any surrender charge or any applicable market value adjustment will be in addition to the amount requested by the Owner. A surrender will result in the cancellation of units of the particular subaccounts and the withdrawal of amounts credited to the Guaranteed Interest Account Accumulation Periods as chosen by the Owner. The aggregate value of the surrender will be equal to the dollar amount of the surrender plus, if applicable, any surrender charge and any applicable market value adjustment. For a partial surrender, the Company will cancel Units of the particular subaccounts and withdraw amounts from the Guaranteed Interest Account with Market Value Adjustment Accumulation Period under the allocation specified by the Owner. The unit value will be calculated as of the Business Day the surrender request is received. Allocations may be by either amount or percentage. Allocations by percentage must be in whole percentages (totaling 100%). At least 10% of the partial surrender must be allocated to any subaccount or an Accumulation Period in the Guaranteed Interest Account with Market Value Adjustment designated by the Owner. The request will not be accepted if: . there is insufficient Fund Value in the Guaranteed Interest Account with Market Value Adjustment or a subaccount to provide for the requested allocation against it, or . the request is incomplete or incorrect. Any surrender charge will be allocated against the Guaranteed Interest Account with Market Value Adjustment and each subaccount in the same proportion that each allocation bears to the total amount of the partial surrender. Contracts issued in the States of Maryland, New Jersey, Oklahoma, South Carolina, Texas and Washington and the Commonwealths of Massachusetts and Pennsylvania, to the extent the Owner allocates investments to the Guaranteed Interest Account, must maintain a minimum Fund Value in the Guaranteed Interest Account of $2,500. The amount of any surrender or transfer payable from MONY America Variable Account A will be paid in accordance with the requirements of state insurance departments and the 1940 Act. However, the Company may be permitted to postpone such payment under the 1940 Act. Postponement is currently permissible only for any period during which: (1)the New York Stock Exchange is closed other than customary weekend and holiday closings, or (2)trading on the New York Stock Exchange is restricted as determined by the Securities and Exchange Commission, or (3)an emergency exists as a result of which disposal of securities held by the Fund is not reasonably practicable or it is not reasonably practicable to determine the value of the net assets of the Fund. Any surrender involving payment from amounts credited to the Guaranteed Interest Account with Market Value Adjustment may be postponed, at the option of the Company, for up to 6 months from the date the request for a surrender is received by the Company. Surrenders involving payment from the Guaranteed Interest Account with Market Value Adjustment may in certain circumstances and in certain states also be subject to a market value adjustment, in addition to a surrender charge. The Owner may elect to have the amount of a surrender settled under one of the settlement options of the Contract. (See "Annuity provisions".) Contracts offered by this prospectus may be issued in connection with retirement plans meeting the requirements of certain sections of the Internal Revenue Code. Owners should refer to the terms of their particular retirement plan for any limitations or restrictions on cash surrenders. The tax results of a surrender should be carefully considered. (See "Federal tax status".) Please note: if mandated under applicable law, we may be required to reject a Purchase Payment. In addition, we may also be required to block an Owner's account and thereby refuse to honor any request for transfers, partial surrenders, loans, or death benefits until instructions are secured from the appropriate regulator. We may be required to provide additional information about your account to government regulators. SURRENDERS 27 7. Loans -------------------------------------------------------------------------------- Qualified Contracts issued under an Internal Revenue Code Section 401(k) plan will have a loan provision (except in the case of contracts issued in Vermont) under which a loan can be taken using the Contract as collateral for the loan. All of the following conditions apply in order for the amount to be considered a loan, rather than a (taxable) partial surrender: . The term of the loan must be 5 years or less. . Repayments are required at least quarterly and must be substantially level. . The loan amount is limited to certain dollar amounts as specified by the IRS. The Owner (Plan Trustee) must certify that these conditions are satisfied. In any event, the maximum outstanding loan on a Contract is 50% of the Fund Value in the subaccounts and/or the Guaranteed Interest Account with Market Value Adjustment. Loans are not permitted before the end of the right to return contract period. In requesting a loan, the Owner must specify the subaccounts from which Fund Value equal to the amount of the loan requested will be taken. Loans from the Guaranteed Interest Account with Market Value Adjustment are not taken until Fund Value in the subaccounts is exhausted. If Fund Value must be taken from the Guaranteed Interest Account with Market Value Adjustment in order to provide the Owner with the amount of the loan requested, the Owner must specify the Accumulation Periods from which Fund Values equal to such amount will be taken. If the Owner fails to specify subaccounts and Accumulation Periods, the request for a loan will be returned to the Owner. Values are transferred to a loan account that earns interest at an annual rate of 3.50%. The annual loan interest rate charged on outstanding loan amounts will be 6%. If interest is not repaid each year, it will be added to the principal of the loan. Loan repayments must be specifically earmarked as loan repayment and will be allocated to the subaccounts and/or the Guaranteed Interest Account with Market Value Adjustment using the most recent payment allocation on record. Otherwise, we will treat the payment as a Net Purchase Payment. -------------------------------------------------------------------------------- LOAN -- Available under a Contract issued under Section 401(k) of the Code; subject to availability. To be considered a Loan: (1) the term must be no more than five years, (2) repayments must be at least quarterly and substantially level, and (3) the amount is limited to dollar amounts specified by the Code, not to exceed 50% of the Fund Value. LOAN ACCOUNT -- A part of the General Account where Fund Value is held as collateral for a loan. An Owner may transfer Fund Value in the Subaccounts, and/or Guaranteed Interest Account with Market Value Adjustment to the Loan Account. -------------------------------------------------------------------------------- 28 LOANS 8. Death benefit -------------------------------------------------------------------------------- DEATH BENEFIT PROVIDED BY THE CONTRACT The Company will pay a death benefit to the Beneficiary if: (1)the Annuitant dies, and (2)the death occurs before the annuity payments start. The amount of the death benefit will be the greater of: (1)the Fund Value less any outstanding debt on the date of the Annuitant's death; (2)the Purchase Payments paid, less any partial surrenders and their surrender charges and market value adjustment and less any outstanding debt; or (3)an enhanced death benefit. If there are funds allocated to the Guaranteed Interest Account with market value adjustment at the time of death, any applicable market value adjustment will be waived. If the death of the Annuitant occurs on or after the annuity payments start, no death benefit will be payable except as may be provided under the settlement option elected. In general, on the death of an Owner who is not the Annuitant, amounts must be distributed from the Contract. (See "Provisions required by Section 72(s) of the Code" later in this prospectus.) We will impose applicable surrender charges. (See "Charges and deductions" later in this prospectus.) ENHANCED DEATH BENEFIT OPTIONS Your Contract provides a choice of two enhanced death benefit options when it is issued. If the Annuitant is age 0-75, the Owner may choose either enhanced death benefit -- 5 Year or enhanced death benefit -- 1 Year described below. If the Annuitant does not choose an option when the Contract is issued, the Annuitant will automatically receive the enhanced death benefit -- 5 Year. If your Contract was issued on or before August 16, 2000, you may have elected the enhanced death benefit -- 1 Year during the period from August 16, 2000 to September 22, 2000. Owners with these Contracts not making the election will retain the enhanced death benefit -- 5 Year. ENHANCED DEATH BENEFIT -- 5 YEAR On the 5th Contract anniversary and each subsequent 5th Contract anniversary prior to the Annuitant's 71st birthday, the enhanced death benefit may be increased. If the Annuitant is age 65 or over on the date of issue, the enhanced death benefit will be recalculated once on the 5th Contract anniversary. Thereafter the enhanced death benefit remains at its last value. ENHANCED DEATH BENEFIT -- 1 YEAR On the first Contract Anniversary and each subsequent Contract Anniversary prior to the Annuitant's 80th birthday, the enhanced death benefit may be increased. After the Annuitant reaches age 80, this enhanced death benefit provision expires. This option may not be currently available in all states. AMOUNT OF THE ENHANCED DEATH BENEFIT PAYABLE ON DEATH UNDER ENHANCED DEATH BENEFIT OPTIONS The recalculated enhanced death benefit is equal to the greater of: (1)the Fund Value on the date the enhanced death benefit is to be recalculated; and (2)the current enhanced death benefit proportionately reduced by any partial surrenders including surrender charges and any applicable market value adjustments assessed since the last recalculation of the enhanced death benefit. The enhanced death benefit payable under both enhanced death benefit options is the enhanced death benefit on the date of death of the Annuitant, reduced proportionately for each partial surrender (including surrender charges and market value adjustments, if applicable) since the last recalculation date and less any outstanding debt. In no event will the enhanced death benefit payable on death exceed 200% of: . the total Purchase Payments reduced proportionately for each partial surrender (including surrender charges and applicable market value adjustments,), and less . any outstanding debt. The proportionate reduction for each partial surrender will be equal to: (1)the amount of that partial surrender (including any surrender charges and applicable Market Value Adjustment assessed), divided by (2)the Fund Value immediately before that partial surrender, multiplied by, (3)the enhanced death benefit immediately before the surrender. Once the last value is set for the enhanced death benefit, it will not be recalculated. The last value is set for the 5 Year option prior to the Annuitant's 71st birthday or on the first 5th anniversary if the Contract is purchased on or after the Annuitant's age 65. The last value is set for the 1 Year option on the Contract Anniversary prior to the Annuitant's age 80. After the Annuitant reaches age 80, this enhanced death benefit provision expires. All other basic death benefits as described in this prospectus continue to apply. The largest death benefit under any of these provisions will be paid. The cost of an enhanced death benefit option is reflected in the mortality and expense risk charge. DEATH BENEFIT 29 ELECTION AND EFFECTIVE DATE OF ELECTION The Owner may elect to have the death benefit of the Contract applied under one of four settlement options to effect an annuity for the Beneficiary as payee after the death of the Annuitant. The election must take place: (1)during the lifetime of the Annuitant, and (2)before the annuity payments start. If no election of a settlement option for the death benefit is in effect on the date when proceeds become payable, the Beneficiary may elect: (1)to receive the death benefit in the form of a lump sum payment; or (2)to have the death benefit applied under one of the settlement options. (See "Settlement options.") If an election by the payee is not received by the Company within one month following the date proceeds become payable, the payee will be considered to have elected a lump sum payment. Either election described above may be made by filing a written election with the Company in such form as it may require. Any proper election of a method of settlement of the death benefit by the Owner will become effective on the date it is signed. However, any election will be subject to any payment made or action taken by the Company before receipt of the notice at the Company's Operations Center. Settlement option availability may be restricted by the terms of any applicable retirement plan and any applicable legislation for any limitations or restrictions on the election of a method of settlement and payment of the death benefit. PAYMENT OF DEATH BENEFIT If the death benefit is to be paid in one sum to the Beneficiary, payment will be made within seven (7) days of the date: (1)the election becomes effective, or (2)the election is considered to become effective, and (3)due proof of death of the Annuitant is received. The Company may be permitted to postpone such payment from amounts payable from MONY America Variable Account A under the 1940 Act. If the death benefit is to be paid in one sum to the Successor Beneficiary, or to the estate of the deceased Annuitant, payment will be made within seven (7) days of the date due proof of the death of the Annuitant and the Beneficiary is received by the Company. Unless another election is made, the death benefit proceeds will be transferred to an interest bearing checking account. The Beneficiary may make partial or full withdrawals from such account through a checkbook provided to the Beneficiary. 30 DEATH BENEFIT 9. Charges and deductions -------------------------------------------------------------------------------- The following table summarizes the charges and deductions under the Contract (See "Summary of the Contract -- Fee tables" for more detailed information): --------------------------------------------------------------------------------------------------------------------------------- DEDUCTIONS FROM PURCHASE PAYMENTS --------------------------------------------------------------------------------------------------------------------------------- Tax chargee Range for State and local -- 0%-3.50%/(1)/. Federal -- Currently 0% (Company reserves the right to charge in the future.) --------------------------------------------------------------------------------------------------------------------------------- DAILY DEDUCTIONS FROM MONY AMERICA VARIABLE ACCOUNT A --------------------------------------------------------------------------------------------------------------------------------- Mortality & expense risk charge Maximum daily rate -- 0.003699% Annual Rate deducted daily from average daily net assets Maximum Annual rate -- 1.35% --------------------------------------------------------------------------------------------------------------------------------- DEDUCTIONS FROM FUND VALUE --------------------------------------------------------------------------------------------------------------------------------- Annual contract charge Maximum of $50 ($30 in some states) on 30 days written notice Current charge is $0 --------------------------------------------------------------------------------------------------------------------------------- Transaction and other charges Maximum of $25 Transfer charge Current charge is $0 --------------------------------------------------------------------------------------------------------------------------------- Surrender charge See grading schedule and "Charges and deductions -- Charges Grades from 7% to 0% of Fund Value surrendered based on a against fund value" for details of how it is computed. schedule. --------------------------------------------------------------------------------------------------------------------------------- Loan interest spread 2.50% ---------------------------------------------------------------------------------------------------------------------------------
(1)Company currently assumes responsibility; current charge to Owner 0%. The following provides additional details of the charges and deductions under the Contract. The amount of the charge may not necessarily correspond to the costs associated with providing the services or benefits indicated by the designation of the charge. For example, the surrender charge we collect may not fully cover all of the sales and distribution expenses we actually incur. We also may realize a profit on one or more of the charges. We may use such profits for any corporate purpose, including the payment of sales expenses. DEDUCTIONS FROM PURCHASE PAYMENTS Deductions may be made from Purchase Payments for a charge for state and local premium or similar taxes prior to allocation of any Net Purchase Payment among the subaccounts. Currently, the Company makes no deduction, but may do so with respect to future Purchase Payments. If the Company is going to make deductions for such tax from future Purchase Payments, it will give 30 days notice to each affected Owner. CHARGES AGAINST FUND VALUE DAILY DEDUCTION FROM MONY AMERICA VARIABLE ACCOUNT A MORTALITY AND EXPENSE RISK CHARGE. The Company assumes mortality and expense risks. A charge for assuming such risks is deducted daily from the net assets of MONY America Variable Account A. This daily charge from MONY America Variable Account A is deducted at a current daily rate equivalent to an annual rate of 1.35% from the value of the net assets of MONY America Variable Account A. The rate is guaranteed not to exceed a daily rate equivalent to an annual rate of 1.35% from the value of the net assets of MONY America Variable Account A. The charge is deducted from MONY America Variable Account A, and therefore the subaccounts, on each Business Day. The mortality and expense risk charges will not be deducted from the Guaranteed Interest Account with Market Value Adjustment. Where the previous day (or days) was not a Business Day, the deduction currently on the next Business Day will be 0.003699% (guaranteed not to exceed 0.003699%) multiplied by the number of days since the last Business Day. The Company believes that this level of charge is within the range of industry practice for comparable individual flexible payment variable annuity contracts. The mortality risk assumed by the Company is that Annuitants may live for a longer time than projected. If that occurs, an aggregate amount of annuity benefits greater than that projected will be payable. In making this projection, the Company has used the mortality rates from the 1983 Table "a" (discrete functions without projections for future mortality), with 3.50% interest. The expense risk assumed is that expenses incurred in issuing and administering the Contracts will exceed the administrative charges provided in the Contracts. If the amount of the charge exceeds the amount needed, the excess will be kept by the Company in its General Account. If the amount of the charge is inadequate, the Company will pay the difference out of its General Account. CHARGES AND DEDUCTIONS 31 DEDUCTIONS FROM FUND VALUE ANNUAL CONTRACT CHARGE. The Company has primary responsibility for the administration of the Contract and MONY America Variable Account A. An annual contract charge helps to reimburse the Company for administrative expenses related to the maintenance of the Contract. Ordinary administrative expenses expected to be incurred include premium collection, recordkeeping, processing death benefit claims and surrenders, preparing and mailing reports, and overhead costs. In addition, the Company expects to incur certain additional administrative expenses in connection with the issuance of the Contract, including the review of applications and the establishment of Contract records. The Company intends to administer the Contract itself through an arrangement whereby it may buy some administrative services from AXA Equitable and such other sources as may be available. Currently, there is no annual contract charge. The Company may in the future impose an annual contract charge. The charge will never, however, exceed $50. The Owner will receive a written notice 30 days in advance of any change in the charge. Any applicable charge will be assessed once per year on the Contract Anniversary, starting on the first Contract Anniversary. If imposed, the annual contract charge is deducted from the Fund Value on each Contract Anniversary before the date annuity payments start. The amount of the charge will be allocated against the Guaranteed Interest Account with Market Value Adjustment and each subaccount of MONY America Variable Account A in the same proportion that the Fund Value in those accounts bears to the Fund Value of the Contract. The Company does not expect to make any profit from the annual contract charge. TRANSFER CHARGE. Contract value may be transferred among the subaccounts or to or from the Guaranteed Interest Account with Market Value Adjustment and one or more of the subaccounts (including transfers made by telephone, if permitted by the Company). The Company reserves the right to impose a transfer charge for each transfer instructed by the Owner in a Contract Year. The transfer charge compensates the Company for the costs of effecting the transfer. The transfer charge will not exceed $25 (except for contracts issued in the states of South Carolina and Texas where it will not exceed $10). The Company does not expect to make a profit from the transfer charge. If imposed, the transfer charge will be deducted from the Contract's Fund Value held in the subaccount(s) or from the Guaranteed Interest Account with Market Value Adjustment from which the first transfer is made. SURRENDER CHARGE. A contingent deferred sales charge (called a "surrender charge") will be imposed when a full or partial surrender is requested or at the start of annuity benefits if it is during the first eight years of the Contract. The surrender charge will never exceed 7% of total Fund Value. The surrender charge is intended to reimburse the Company for expenses incurred in distributing the Contract. To the extent such charge is insufficient to cover all distribution costs, the Company will make up the difference. The Company will use funds from its General Account, which may contain funds deducted from MONY America Variable Account A to cover mortality and expense risks borne by the Company. (See "Charges against fund value -- Mortality and expense risk charge.") We impose a surrender charge when a full or partial surrender is made during the first eight (8) Contract Years, except as provided below. A surrender charge will not be imposed: (1)Against Fund Value surrendered after the eighth Contract Year. (2)To the extent necessary to permit the Owner to obtain an amount equal to the free partial surrender amount (See "Free partial surrender amount"). (3)If the Contract is surrendered after the third Contract Year and the surrender proceeds are paid under either Settlement Option 3 or Settlement Option 3A (See "Settlement options"). The elimination of a Surrender Charge in this situation does not apply to contracts issued in the State of Texas. In no event will the aggregate surrender charge exceed 7% of the Fund Value. Further, in no event will the surrender charges imposed, when added to any surrender charges previously paid on the Contract, exceed 9% of aggregate Purchase Payments made to date for the Contract. The Owner may specify whether he/she wants the surrender charge to be deducted from the amount requested for surrender or the Fund Value remaining. If not specified or if the Fund Value remaining is not sufficient, then the surrender charge will be deducted from the amount requested for surrender. If it is specified that the surrender charge will come from the remaining Fund Value and it is sufficient, then the Company will determine the appropriate amount to be surrendered in order to pay the surrender charge. Any surrender charge will be allocated against the Guaranteed Interest Account with Market Value Adjustment and each subaccount of MONY America Variable Account A in the same proportion that the amount of the partial surrender allocated against those accounts bears to the total amount of the partial surrender. If any surrender from the Guaranteed Interest Account with Market Value Adjustment occurs prior to the Maturity Date for any particular Accumulation Period elected by the Owner, the amount surrendered will be subject to a Market Value Adjustment in addition to Surrender Charges. No surrender charge will be deducted from Death Benefits except as described in "Death benefit." If The MONYMaster variable annuity contract issued by MONY Life Insurance Company of America has been exchanged for this Contract, a separate effective date was assigned to this Contract by endorsement for purposes of determining the amount of any surrender charge. The surrender charge effective date of this Contract with the endorsement is the effective date of The MONYMaster variable annuity contract. Your agent can provide further details. A separate surrender charge effective date does not apply in states where the endorsement has not been approved. We reserve the right to disallow exchanges for this Contract at any time. 32 CHARGES AND DEDUCTIONS AMOUNT OF SURRENDER CHARGE. The amount of the surrender charge is equal to a varying percentage of Fund Value during the first 8 Contract Years. The percentage is determined by multiplying the surrender charge percentage for the Contract Year by the amount of Fund Value requested as follows:
----------------------------------------------------------- SURRENDER CHARGE PERCENTAGE TABLE ----------------------------------------------------------- CONTRACT YEAR SURRENDER CHARGE (AS A PERCENTAGE OF FUND VALUE SURRENDERED) ----------------------------------------------------------- 1 7% ----------------------------------------------------------- 2 7 ----------------------------------------------------------- 3 6 ----------------------------------------------------------- 4 6 ----------------------------------------------------------- 5 5 ----------------------------------------------------------- 6 4 ----------------------------------------------------------- 7 3 ----------------------------------------------------------- 8 2 ----------------------------------------------------------- 9 (or more) 0 -----------------------------------------------------------
The amount of the surrender charge is in addition to any applicable Market Value Adjustment that may be made if the surrender is made from Fund Value in the Guaranteed Interest Account with Market Value Adjustment. (See "Guaranteed Interest Account with Market Value Adjustment -- Surrenders" for further details.) FREE PARTIAL SURRENDER AMOUNT. The surrender charge may be reduced by using the free partial surrender amount provided for in the Contract. The surrender charge will not be deducted in the following circumstances: (1)For Qualified Contracts, (other than contracts issued for IRA and SEP-IRA), an amount each Contract Year up to the greater of: (a)$10,000 (but not more than the Contract's Fund Value), or (b)10% of the Contract's Fund Value at the beginning of the Contract Year (except, if the surrender is requested during the first Contract Year, then 10% of the Contract's Fund Value at the time the first surrender is requested). (2)For Non-Qualified Contracts (and contracts issued for IRA and SEP-IRA), an amount up to 10% of the Fund Value at the beginning of the Contract Year (except, if the surrender is requested during the first Contract Year, then 10% of the Contract's Fund Value at the time the first surrender is requested) may be received in each Contract Year without a surrender charge. Free partial surrenders may only be made to the extent Cash Value in the subaccounts and/or Guaranteed Interest Account is available. For example, the Fund Value in MONY America Variable Account A could decrease (due to unfavorable investment experience) after part of the 10% was withdrawn. In that case it is possible that there may not be enough Cash Value to provide the remaining part of the 10% free partial surrender amount. Contract Fund Value here means the Fund Value in the subaccounts (and the Guaranteed Interest Account with Market Value Adjustment not the Loan Account). This reduction of surrender charge does not affect any applicable Market Value Adjustment that may be made if the surrender is made from Fund Value in the Guaranteed Interest Account with Market Value Adjustment. (See "Guaranteed Interest Account with Market Value Adjustment -- Surrenders" and the prospectus for the Guaranteed Interest Account with Market Value Adjustment which accompanies this prospectus for further details.) TAXES Currently, no charge will be made against MONY America Variable Account A for federal income taxes. However, the Company may make such a charge in the future if income or gains within MONY America Variable Account A will incur any federal income tax liability. Charges for other taxes, if any, attributable to MONY America Variable Account A may also be made. (See "Federal tax status".) INVESTMENT ADVISORY FEE Each portfolio in which the MONY America Variable Account A invests incurs certain fees and charges. To pay for these fees and charges, the portfolio makes deductions from its assets. Certain portfolios available under the Contract in turn invest in shares of other portfolios of AXA Premier VIP Trust and EQ Advisors Trust and/or shares of unaffiliated portfolios (collectively the "underlying portfolios"). The underlying portfolios each have their own fees and expenses, including management fees, operating expenses, and investment related expenses such as brokerage commissions. The portfolio expenses are described more fully in each Fund prospectus. We sell the Contracts through registered representatives of broker-dealers. These registered representatives are also appointed and licensed as insurance agents of the Company. We pay commissions to the broker-dealers for selling the Contracts. You do not directly pay these commissions, we do. We intend to recover commissions, marketing, administrative and other expenses and the cost of Contract benefits through the fees and charges imposed under the Contracts. (See "Distribution of the Contracts" for more information.) CHARGES AND DEDUCTIONS 33 10. Annuity provisions -------------------------------------------------------------------------------- ANNUITY PAYMENTS Annuity payments under a Contract will begin on the date that is selected by the Owner when the Contract is applied for. The date chosen for the start of annuity payments may be: (1)no earlier than the 10th Contract Anniversary, and (2)no later than the Contract Anniversary after the Annuitant's 95th birthday. The minimum number of years from the Effective Date to the start of annuity payments is 10. The date when annuity payments start may be: (1)Advanced to a date that is not earlier than the 10th Contract Anniversary. (2)Deferred from time to time by the Owner by written notice to the Company. The date when annuity payments start will be advanced or deferred if: (1)Notice of the advance or deferral is received by the Company prior to the current date for the start of annuity payments. (2)The new start date for annuity payments is a date which is not later than the Contract Anniversary after the Annuitant's 95th birthday. A particular retirement plan may contain other restrictions. When annuity payments begin, unless Settlement Option 3 or 3A is elected, the Contract's Cash Value, less any tax charge which may be imposed, will be applied to provide an annuity or any other option previously chosen by the Owner and permitted by the Company. If Settlement Option 3 or 3A is elected, the Contract's Fund Value (less any state taxes imposed when annuity payments begin) will be applied to provide an annuity. A supplementary contract will be issued when proceeds are applied to a settlement option. That contract will describe the terms of the settlement. No payments may be requested under the Contract's surrender provisions after annuity payments start. No surrender will be permitted except as may be available under the settlement option elected. For Contracts issued in connection with retirement plans, reference should be made to the terms of the particular retirement plan for any limitations or restrictions on when annuity payments start. ELECTION AND CHANGE OF SETTLEMENT OPTION During the lifetime of the Annuitant and prior to the start of annuity payments, the Owner may elect: . one or more of the settlement options described below, or . another settlement option as may be agreed to by the Company. The Owner may also change any election if written notice of the change is received by the Company at its Operation Center prior to the start of annuity payments. If no election is in effect when annuity payments start, a lump sum payment will be considered to have been elected. For contracts issued in the State of Texas, if no election is in effect when annuity payments start, Settlement Option 3 with a period certain of 10 years will be considered to have been elected. Settlement options may also be elected by the Owner or the Beneficiary as provided in the "Death benefit" and "Surrenders" sections of this prospectus. (See "Death benefit" and "Surrenders"). Where applicable, reference should be made to the terms of a particular retirement plan and any applicable legislation for any limitations or restrictions on the options that may be elected. SETTLEMENT OPTIONS Proceeds settled under the settlement options listed below or otherwise currently available will not participate in the investment experience of the MONY America Variable Account A. Unless you select Settlement Option 1, the settlement option may not be changed once payments begin. SETTLEMENT OPTION 1 -- INTEREST INCOME: Interest on the proceeds at a rate (not less than 2.75% per year) set by the Company each year. The Option will continue until the earlier of the date that the payee dies or the date you elect another settlement option. Under certain contracts, this option is not available if the Annuitant is the payee. SETTLEMENT OPTION 2 -- INCOME FOR SPECIFIED PERIOD: Fixed monthly payments for a specified period of time, as elected. The payments may, at the Company's option, be increased by additional interest each year. SETTLEMENT OPTION 3 -- SINGLE LIFE INCOME: Payments for the life of the payee and for a period certain. The period certain may be (a) 0 years, 10 years, or 20 years, or (b) the period required for the total income payments to equal the proceeds (refund period certain). The amount of the income will be determined by the Company on the date the proceeds become payable. SETTLEMENT OPTION 3A -- JOINT LIFE INCOME: Payments during the joint lifetime of the payee and one other person, and during the lifetime of the survivor. The survivor's monthly income may be equal to either (a) the income payable during the joint lifetime or (b) two-thirds of that income. If a person for whom this option is chosen dies before the first monthly payment is made, the survivor will receive proceeds instead under Settlement Option 3, with 10 years certain. SETTLEMENT OPTION 4 -- INCOME OF SPECIFIED AMOUNT: Income, of an amount chosen, for as long as the proceeds and interest last. The amount chosen to be received as income in each year may not be less than 10 percent of the proceeds settled. Interest will be credited annually on the amount remaining unpaid at a rate determined annually by the Company. This rate will not be less than 2.75% per year. 34 ANNUITY PROVISIONS The Contract contains annuity payment rates for Settlement Options 3 and 3A described in this prospectus. The rates show, for each $1,000 applied, the dollar amount of the monthly fixed annuity payment, when this payment is based on minimum guaranteed interest as described in the Contract. The annuity payment rates may vary according to the Settlement Option elected and the age of the payee. The mortality table used in determining the annuity payment rates for Settlement Options 3 and 3A is the 1983 Table "a" (discrete functions, without projections for future mortality), with 3.50% interest per year. Under Settlement Option 3, if income based on the period certain elected is the same as the income provided by another available period or periods certain, the Company will consider the election to have been made of the longest period certain. In Qualified Plans, settlement options available to Owners may be restricted by the terms of the plans. FREQUENCY OF ANNUITY PAYMENTS At the time the settlement option is chosen, the payee may request that it be paid: . Quarterly: . Semiannually: or . Annually If the payee does not request a particular installment payment schedule, the payments will be made in monthly installments. However, if the net amount available to apply under any settlement option is less than $1,000, the Company has the right to pay such amount in one lump sum. In addition, if the payments provided for would be less than $25, the Company shall have the right to change the frequency of the payments to result in payments of at least $25. ADDITIONAL PROVISIONS The Company may require proof of the age of the Annuitant before making any life annuity payment under the Contract. If the Annuitant's age has been misstated, the amount payable will be the amount that would have been provided under the settlement option at the correct age. Once life income payments begin, any underpayments will be made up in one sum with the next annuity payment. Overpayments will be deducted from the future annuity payments until the total is repaid. For contracts issued in the State of Washington, any underpayment by the Company will be paid in a single sum after the correction of the misstatement. The Contract may be required to be returned upon any settlement. Prior to any settlement of a death claim, proof of the Annuitant's death must be submitted to the Company. Where any benefits under the Contract are contingent upon the recipient's being alive on a given date, the Company requires proof satisfactory to it that such condition has been met. The Contracts described in this prospectus contain annuity payment rates that distinguish between men and women. On July 6, 1983, the Supreme Court held in Arizona Governing Committee v. Norris that optional annuity benefits provided under an employer's deferred compensation plan could not, under Title VII of the Civil Rights Act of 1964, vary between men and women on the basis of sex. Because of this decision, the annuity payment rates that apply to Contracts purchased under an employment-related insurance or benefit program may in some cases not vary on the basis of the Annuitant's sex. Unisex rates to be provided by the Company will apply for Qualified Plans. Employers and employee organizations should consider, in consultation with legal counsel, the impact of Norris , and Title VII, generally and any comparable state laws that may apply, on any employment-related plan for which a Contract may be purchased. The Contract is incontestable from its date of issue. GUARANTEED INTEREST ACCOUNT AT ANNUITIZATION On the Annuity Starting Date, the Contract's Cash Value, including the Cash Value of all Accumulation Periods of the Guaranteed Interest Account with Market Value Adjustment, will be applied to provide an annuity or any other option previously chosen by the Owner and permitted by the Company. No Market Value Adjustment will apply at annuitization if the owner elects Settlement Option 3 or 3A. For more information about annuitization and annuity options, please refer to the Contract. ANNUITY PROVISIONS 35 11. Other provisions -------------------------------------------------------------------------------- OWNERSHIP The Owner has all rights and may receive all benefits under the Contract. During the lifetime of the Annuitant (and Secondary Annuitant if one has been named), the Owner is the person so designated in the application, unless: (1)a change in Owner is requested, or (2)a Successor Owner becomes the Owner. The Owner may name a Successor Owner or a new Owner at any time. If the Owner dies, the Successor Owner, if living, becomes the Owner. Any request for change must be: (1)made in writing, and (2)received at the Company. The change will become effective as of the date the written request is signed. A new choice of Owner or Successor Owner will apply to any payment made or action taken by the Company after the request for the change is received. Owners should consult a competent tax adviser prior to changing Owners. -------------------------------------------------------------------------------- SUCCESSOR OWNER -- The living person who, at the death of the Owner, becomes the new Owner. -------------------------------------------------------------------------------- PROVISION REQUIRED BY SECTION 72(S) OF THE CODE The entire interest under a Non-Qualified Contract must be distributed within five years after the Owner's death if: (1)the Owner dies (a)before the start of annuity payments, and (b)while the Annuitant is living; and (2)that Owner's spouse is not the Successor Owner as of the date of the Owner's death. Satisfactory proof of death must be provided to the Company. Spousal status is determined under federal law for this purpose. The surrender proceeds may be paid over the life of the Successor Owner if: (1)the Successor Owner is the Beneficiary, and (2)the Successor Owner chooses that option. Payments must begin no later than one year after the date of death. If the Successor Owner is a surviving spouse, then the surviving spouse will be treated as the new Owner of the Contract. Under such circumstances, it is not necessary to surrender the Contract. However, under the terms of the Contract, if the spouse is not the Successor Owner: (1)the Contract will be surrendered as of the date of death, and (2)the proceeds will be paid to the Beneficiary. This provision shall not extend the term of the Contract beyond the date when death proceeds become payable. If the Owner dies on or after annuity payments start, any remaining portion of the proceeds will be distributed using a method that is at least as quick as the one used as of the date of the Owner's death. PROVISION REQUIRED BY SECTION 401(A)(9) OF THE CODE The entire interest of a Qualified Plan participant in the Contract generally will begin to be distributed no later than the required beginning date. For this purpose "Qualified Plans" include those intended to qualify under Sections 401 and 408 of the Code. Distribution will occur either by or beginning not later than April 1 of the calendar year following the calendar year the Qualified Plan Participant attains age 70 1/2. The interest is distributed: (1)over the life of such Participant, or (2)the lives of such Participant and designated Beneficiary. If (i) required minimum distributions have begun, and (ii) the Participant dies before the Owner's entire interest has been distributed to him/her, the remaining distributions will be made using a method that is at least as rapid as that used as of the date of the Participant's death. The Contract generally will be surrendered as of the Participant's death if: (1)the Participant dies before the start of such distributions, and (2)there is no designated Beneficiary. The surrender proceeds generally must be distributed within 5 years after the date of death. But, the surrender proceeds may be paid over the life of any designated Beneficiary at his/her option. In such case, distributions will begin not later than one year after the December 31 following the Participant's death. If the designated Beneficiary is the surviving spouse (as defined by federal law) of the Participant, distributions will begin not earlier than the December 31 following the date on which the Participant would have attained age 70 1/2. If the surviving spouse dies before distributions to him/her begin, the provisions of this paragraph shall be applied as if the surviving spouse were the Participant. If the Plan is an IRA under Section 408 of the Code, the surviving spouse may elect to forgo distribution and treat the IRA as his/her own plan. Although the lifetime required minimum distribution rules do not apply to Roth IRAs under Section 408A of the Code, the post-death distribution rules apply. It is the Owner's responsibility to assure that distribution rules imposed by the Code will be met. The Owner should consider the effect of recent revisions to the distribution rules which could increase the minimum distribution amount required from annuity contracts funding Qualified Plans where certain additional benefits are purchased under the Contract, such as enhanced death benefits. For this purpose additional annuity contract benefits may include, but are not 36 OTHER PROVISIONS limited to, guaranteed minimum income benefits and enhanced death benefits. The Owner may want to consult a tax advisor concerning the potential application of these complex rules before purchasing this annuity Contract or purchasing additional features under this annuity Contract or making additional Purchase Payments under this annuity Contract. SECONDARY ANNUITANT Except where the Contract is issued in connection with a Qualified Plan, a Secondary Annuitant may be designated by the Owner. Such designation may be made once before annuity payments begin, either: (1)in the application for the Contract, or (2)after the Contract is issued, by written notice to the Company at its Operations Center. The Secondary Annuitant may be deleted by written notice to the Company at its Operations Center. A designation or deletion of a Secondary Annuitant will take effect as of the date the written election was signed. The Company, however, must first accept and record the change at its Operations Center. The change will be subject to: (1)any payment made by the Company, or (2)action taken by the Company before the receipt of the notice at the Company's Operations Center. You cannot change the Secondary Annuitant, but you can delete the Secondary Annuitant. The Secondary Annuitant will be deleted from the Contract automatically by the Company as of the Contract Anniversary following the Secondary Annuitant's 95th birthday. On the death of the Annuitant, the Secondary Annuitant will become the Annuitant, under the following conditions: (1)the death of the Annuitant must have occurred before the Annuity starting date; (2)the Secondary Annuitant is living on the date of the Annuitant's death; (3)if the Annuitant was the Owner on the date of death, the Successor Owner must have been the Annuitant's spouse (as defined by federal law); and (4)if the date annuity payments start is later than the Contract Anniversary nearest the Secondary Annuitant's 95th birthday, the date annuity payments start will be automatically advanced to that Contract Anniversary. EFFECT OF SECONDARY ANNUITANT'S BECOMING THE ANNUITANT. If the Secondary Annuitant becomes the Annuitant, the Death Benefit proceeds will be paid to the Beneficiary only on the death of the Secondary Annuitant. If the Secondary Annuitant was the Beneficiary on the Annuitant's death, the Beneficiary will be automatically changed to the person who was the successor Beneficiary on the date of death. If there was no successor Beneficiary, then the Secondary Annuitant's executors or administrators, unless the Owner directed otherwise, will become the Beneficiary. All other rights and benefits under the Contract will continue in effect during the lifetime of the Secondary Annuitant as if the Secondary Annuitant were the Annuitant. ASSIGNMENT The Owner may assign the Contract. However, the Company will not be bound by any assignment until the assignment (or a copy) is received by the Company at its Administrative Office. The Company is not responsible for determining the validity or effect of any assignment. The Company shall not be liable for any payment or other settlement made by the Company before receipt of the assignment. If the Contract is issued under certain retirement plans, then it may not be assigned, pledged or otherwise transferred except under conditions allowed under applicable law. Because an assignment may be a taxable event, a Owner should consult a competent tax adviser before assigning the Contract. CHANGE OF BENEFICIARY So long as the Contract is in effect the Owner may change the Beneficiary or successor Beneficiary. A change is made by submitting a written request to the Company at its Operations Center. The form of the request must be acceptable to the Company. The Contract need not be returned unless requested by the Company. The change will take effect as of the date the request is signed. The Company will not, however, be liable for any payment made or action taken before receipt and acknowledgement of the request at its Operations Center. SUBSTITUTION OF SECURITIES The Company may substitute shares of another mutual fund for shares of the Funds already purchased or to be purchased in the future by Contract Purchase Payments if: (1)the shares of any portfolio of the Funds is no longer available for investment by MONY America Variable Account A, or (2)in the judgment of the Company's Board of Directors, further investment in shares of one or more of the portfolios of the Funds is inappropriate based on the purposes of the Contract. The new portfolios may have higher fees and charges than the ones they replaced, and not all portfolios may be available to all classes of contracts. We will notify you before we substitute securities in any subaccount, and, to the extent required by law, we will obtain prior approval from the Securities and Exchange Commission and the Arizona Insurance Department. We also will obtain any other required approvals (See "Who is MONY Life Insurance Company of America -- MONY America Variable Account A" for more information about changes we may make to the subaccounts). CHANGES TO CONTRACTS The Company reserves the right, subject to compliance with laws that apply, to unilaterally change your Contract in order to comply with any applicable laws and regulations, including but not limited to changes in the Internal Revenue Code, in Treasury regulations or in published rulings of the Internal Revenue Service, ERISA and in Department of Labor regulations. Any change in the Contract must be in writing and made by our authorized officer. We will provide notice of any contract change. OTHER PROVISIONS 37 CHANGE IN OPERATION OF MONY AMERICA VARIABLE ACCOUNT A MONY America Variable Account A may be operated as a management company under the 1940 Act or it may be deregistered under the 1940 Act in the event the registration is no longer required, or MONY America Variable Account A may be combined with any of other subaccounts. Deregistration of MONY America Variable Account A requires an order by the Securities and Exchange Commission. If there is a change in the operation of MONY America Variable Account A under this provision, the Company may make appropriate endorsement to the Contract to reflect the change and take such other action as may be necessary and appropriate to effect the change. 38 OTHER PROVISIONS 12. Voting rights -------------------------------------------------------------------------------- All of the assets held in the subaccounts of MONY America Variable Account A will be invested in shares of the designated portfolios of the Funds. The Company is the legal holder of these shares. To the extent required by law, the Company will vote the shares of each of the Funds held in MONY America Variable Account A (whether or not attributable to contract owners). We will determine the number of votes which you have the right to cast by applying your percentage interest in a subaccount to the total number of votes attributable to that subaccount. In determining the number of votes, we will recognize fractional shares. We will vote portfolio shares of a class held in a subaccount for which we received no timely instructions in proportion to the voting instructions which we received for all contracts participating in that subaccount. We will apply voting instructions to abstain on any item to be voted on a pro rata basis to reduce the number of votes eligible to be cast. Whenever a Fund calls a shareholder's meeting, each person having a voting interest in a subaccount will receive proxy voting material, reports, and other materials relating to the relevant portfolio. Since each Fund may engage in shared funding, other persons or entities besides the Company may vote Fund shares. VOTING RIGHTS 39 13. Distribution of the Contracts -------------------------------------------------------------------------------- The Contracts are distributed by both AXA Advisors, LLC ("AXA Advisors") and AXA Distributors, LLC ("AXA Distributors") (together, the "Distributors"). The Distributors serve as principal underwriters of MONY America Variable Account A. The offering of the Contracts is intended to be continuous. AXA Advisors is an affiliate of the Company, and AXA Distributors is an indirect wholly owned subsidiary of the Company. The Distributors are under the common control of AXA Financial, Inc. Their principal business address is 1290 Avenue of the Americas, New York, NY 10104. The Distributors are registered with the SEC as broker-dealers and are members of the Financial Industry Regulatory Authority, Inc. ("FINRA"). Both broker-dealers also act as distributors for the Company's life and annuity products. The Contracts are sold by financial professionals of AXA Advisors and its affiliates. The Contracts are also sold by financial professionals of unaffiliated broker-dealers that have entered into selling agreements with the Distributors ("Selling broker-dealers"). The Company pays compensation to both Distributors based on Contracts sold. The Company may also make additional payments to the Distributors, and the Distributors may, in turn, make additional payments to certain Selling broker-dealers. All payments will be in compliance with all applicable FINRA rules and other laws and regulations. Although the Company takes into account all of its distribution and other costs in establishing the level of fees and charges under its Contracts, none of the compensation paid to the Distributors or the Selling broker-dealers discussed in this section of the Prospectus are imposed as separate fees or charges under your Contract. The Company, however, intends to recoup amounts it pays for distribution and other services through the fees and charges of the Contract and payments it receives for providing administrative, distribution and other services to the Portfolios. For information about the fees and charges under the Contract, see "Summary of the Contract" and "Charges and deductions" earlier in this prospectus. COMPENSATION PAID TO THE DISTRIBUTORS. The Company pays compensation to the Distributors based on Purchase Payments made on the Contracts sold through the Distributors ("contribution-based compensation"). The contribution-based compensation will generally not exceed 6.50% of the total Purchase Payments made under the Contracts, plus, starting in the second Contract Year, up to 0.25% of the Fund Value of the Contracts ("asset-based compensation"). The Distributors, in turn, may pay a portion of the compensation received from the Company to the Distributors financial professional and/or the Selling broker-dealer making the sale. The compensation paid by the Distributors varies among financial professionals and among Selling broker-dealers. The Distributors also pay a portion of the compensation it receives to its managerial personnel. When a Contract is sold by a Selling broker-dealer, the Selling broker-dealer, not the Distributors, determines the amount and type of compensation paid to the Selling broker-dealer's financial professional for the sale of the Contract. Therefore, you should contact your financial professional for information about the compensation he or she receives and any related incentives, as described below. AXA Advisors also pays its financial professionals and managerial personnel other types of compensation including service fees, expense allowance payments and health and retirement benefits. AXA Advisors also pays its financial professionals, managerial personnel and Selling broker-dealers sales bonuses (based on selling certain products during specified periods) and persistency bonuses. AXA Advisors may offer sales incentive programs to financial professionals and Selling broker-dealers who meet specified production levels for the sales of both the Company Contracts and Contracts offered by other companies. These incentives provide non-cash compensation such as stock options awards and/or stock appreciation rights, expense-paid trips, expense-paid education seminars and merchandise. The Company also pays AXA Distributors compensation to cover its operating expenses and marketing services under the terms of the Company's distribution agreements with AXA Distributors. DIFFERENTIAL COMPENSATION PAID BY AXA ADVISORS. In an effort to promote the sale of the Company's products, AXA Advisors may pay its financial professionals and managerial personnel a greater percentage of contribution-based compensation and/or asset-based compensation for the sale of the Company's Contract than it pays for the sale of a Contract or other financial product issued by a company other than the Company. This practice is known as providing "differential compensation." Differential compensation may involve other forms of compensation to AXA Advisors personnel. Certain components of the compensation paid to managerial personnel are based on whether the sales involve the Company's Contracts. Managers earn higher compensation (and credits toward awards and bonuses) if the financial professionals they manage sell a higher percentage of the Company's Contracts than products issued by other companies. Other forms of compensation provided to its financial professionals include health and retirement benefits, expense reimbursements, marketing allowances and contribution-based payments, known as "overrides." For tax reasons, AXA Advisors financial professionals qualify for health and retirement benefits based solely on their sales of the Company's Contracts and products sponsored by affiliates. The fact that AXA Advisors financial professionals receive differential compensation and additional payments may provide an incentive for those financial professionals to recommend the Company's Contract over a Contract or other financial product issued by a company not affiliated with the Company. However, under applicable rules of FINRA, AXA Advisors financial professionals may only recommend to you products that they reasonably believe are suitable for you based on the facts that you have disclosed as to your other security holdings, financial situation and needs. In making any recommendation, financial professionals of AXA Advisors may nonetheless face conflicts of interest because of the differences in compensation from one product 40 DISTRIBUTION OF THE CONTRACTS category to another, and because of differences in compensation among products in the same category. For more information, contact your financial professional. ADDITIONAL PAYMENTS BY AXA DISTRIBUTORS TO SELLING BROKER-DEALERS. AXA Distributors may pay, out of its assets, certain Selling broker-dealers and other financial intermediaries additional compensation in recognition of services provided or expenses incurred. AXA Distributors may also pay certain Selling broker-dealers or other financial intermediaries additional compensation for enhanced marketing opportunities and other services (commonly referred to as "marketing allowances"). Services for which such payments are made may include, but are not limited to, the preferred placement of the Company products on a company and/or product list; sales personnel training; product training; business reporting; technological support; due diligence and related costs; advertising, marketing and related services; conference; and/or other support services, including some that may benefit the Contract owner. Payments may be based on the aggregate account value attributable to Contracts sold through a Selling broker-dealer or such payments may be a fixed amount. AXA Distributors may also make fixed payments to Selling broker-dealers, for example in connection with the initiation of a new relationship or the introduction of a new product. Additionally, as an incentive for the financial professionals of Selling broker-dealers to promote the sale of the Company products, AXA Distributors may increase the sales compensation paid to the Selling broker-dealer for a period of time (commonly referred to as "compensation enhancements"). These additional payments may serve as an incentive for Selling broker-dealers to promote the sale of the Company Contracts over Contracts and other products issued by other companies. Not all Selling broker-dealers receive additional payments, and the payments vary among Selling broker-dealers. The list below includes the names of Selling broker-dealers that we are aware (as of December 31, 2011) received additional payments. These additional payments ranged from $81 to $4,973,724. The Company and its affiliates may also have other business relationships with Selling broker-dealers, which may provide an incentive for the Selling broker-dealers to promote the sale of the Company's contracts over contracts and other products issued by other companies. The list below includes any such Selling broker-dealer. For more information, ask your financial professional. 1st Global Capital Corporation Advantage Capital Corporation A.G. Edwards American Portfolios Financial Services Ameriprise Financial Services, Inc. Associated Securities Corp. Bank of America BBVA Compass Investment Solutions, Inc. CCO Investment Services Corp. Centaurus Financial, Inc. Commonwealth Financial Network CUSO Financial Services, L.P. Essex National Securities Inc. Financial Network Investment Corporation First Allied Securities First Citizens Investor Services, Inc. First Tennessee Brokerage, Inc. FSC Securities Corporation Geneos Wealth Management, Inc. H.D. Vest Investment Securities, Inc. Investment Centers of America/First Dakota Inc. IFC Holdings Inc. DBA Invest Financial Corporation Investment Professionals, Inc. Investors Capital Corporation J.P. Turner & Company, LLC James T. Borello & Co. Janney Montgomery Scott, LLC Key Investment Services, LLC Lincoln Financial Advisors Corporation Lincoln Financial Securities Corporation LPL Financial Corporation M&T Securities, Inc. Merrill Lynch Life Agency Inc. Morgan Keegan & Co., Inc. Morgan Stanley Smith Barney - Morgan Stanley & Co., Incorporated Multi-Financial Securities Corporation National Planning Corporation Next Financial Group, Inc. NFP Securities, Inc. Plan Member Financial Corporation PNC Investments Prime Capital Services PrimeVest Financial Services, Inc. Raymond James & Associates Inc Raymond James Financial Services RBC Capital Markets Corp. Robert W Baird & Co. Royal Alliance Associates Inc. Sage Point Financial, Inc Securities America, Inc. SII Investments, Inc. Sorrento Pacific Financial, LLC Stifel, Nicolaus & Co. Summit Brokerage Services, Inc Termed/Mutual Service Corporation Transamerica Financial Advisors, Inc. U.S. Bancorp Investments, Inc. UBS Financial Services, Inc. UVEST Financial Services Group, Inc. Waterstone Financial Group, Inc. Wells Fargo Advisors Financial Network LLC Wells Fargo Advisors Wells Fargo Advisors, LLC Wells Fargo Investments, LLC DISTRIBUTION OF THE CONTRACTS 41 14. Federal tax status -------------------------------------------------------------------------------- INTRODUCTION The Contract described in this prospectus is designed for use in connection with certain types of Qualified Plans and on a nonqualified basis. The ultimate effect of federal income taxes on . the value of the Contract's Fund Value, . annuity payments, . death benefit, and . economic benefit to the Owner, Annuitant, and the Beneficiary may depend upon . the type of retirement plan for which the Contract is purchased, and . the tax and employment status of the individual concerned. The following discussion of the treatment of the Contract and of the Company under the federal income tax laws is general in nature. The discussion is based on the Company's understanding of current federal income tax laws, and is not intended as tax advice. These federal income tax laws may change without notice. We cannot predict whether, when, or how these rules could change. Any change could affect contracts purchased before the change. Congress may also consider proposals in the future to comprehensively reform or overhaul the United States tax and retirement systems, which if enacted, could affect the tax benefits of a contract. We cannot predict what, if any legislation will actually be proposed or enacted. Any person considering the purchase of a contract or making additional Purchase Payments under this Contract should consult a qualified tax adviser. Additional information of the treatment of the Contract under federal income tax laws is contained in the Statement of Additional Information. THE COMPANY DOES NOT MAKE ANY GUARANTEE REGARDING ANY TAX STATUS, FEDERAL, STATE, OR LOCAL, OF ANY CONTRACT OR ANY TRANSACTION INVOLVING THE CONTRACT. CIVIL UNIONS The determination of spousal status is made under applicable state law. Certain states provide that for purposes of insurance laws, policies, eligibility and benefits, a spouse in a civil union and a spouse in a marriage are to be treated identically. Such laws typically provide that a party to a civil union shall be included in any definition or use of the terms "spouse," "family," "immediate family," "dependent," "next of kin," and other terms descriptive of spousal relationships as those terms are used throughout state law. This includes the terms "marriage" or "married" or variations thereon. While civil union spouses are afforded the same rights as married spouses under state law and while an employer's plan may provide for certain benefits, tax-related advantages are derived from federal tax law. State law does not and cannot alter federal law. The federal Defense of Marriage Act excludes civil unions and civil union partners from the meaning of the word "marriage" or "spouse" in all federal laws. Therefore, a civil union spouse does not qualify for the same tax advantages provided to a married spouse under federal law, including the tax benefits afforded to the surviving spouse of an owner of an annuity contract or any rights under specified tax-favored savings or retirement plans or arrangements. TAXATION OF ANNUITIES IN GENERAL The Contract described in this prospectus is designed for use in connection with Qualified Plans and on a nonqualified basis. All or a portion of the contributions to such plans will be used to make Purchase Payments under the Contract. In general, contributions to Qualified Plans and income earned on contributions to all plans are tax-deferred until distributed to plan participants or their beneficiaries. Such tax deferral is not, however, available for Non-Qualified Contracts if the Owner is other than a natural person unless the Contract is held as an agent for a natural person. Annuity payments made under a contract are generally taxable to the Annuitant as ordinary income except to the extent of: . Participant after-tax contributions (in the case of Qualified Plans), or . Owner contributions (in the case of Non-Qualified Contracts). Owners, Annuitants, and Beneficiaries should seek advice from their own tax advisers about the tax consequences of distributions, withdrawals and payments under Non-Qualified Contracts and under any Qualified Plan in connection with which the Contract is purchased. For Qualified Contracts, among other things individuals should discuss with their tax advisors are the "required minimum distribution rules" which generally require distributions to be made after age 70 1/2 and after death, including requirements applicable to the calculation of such required distributions from annuity contracts funding Qualified Plans. Federal tax law imposes requirements for determining the amount includable in gross income with respect to distributions not received as an annuity. Distributions include, but are not limited to, transfers, including gratuitous transfers, and pledges of the contract both of which are treated the same as distributions. Distributions from all annuity contracts issued during any calendar year by the same company (or an affiliate) to the Owner (other than those issued to qualified retirement plans) in the same year will be treated as distributed from one annuity contract. The IRS is given power to prescribe additional rules to prevent avoidance of this rule through serial purchases of contracts or otherwise. None of these rules affects Qualified Plans. The Company will withhold and remit to the United States Government and, where applicable, to state and local governments, part of the taxable portion of each distribution made under a contract unless the Owner or Annuitant (1)provides his or her taxpayer identification number to the Company, and (2)notifies the Company that he or she chooses not to have amounts withheld. 42 FEDERAL TAX STATUS Distributions of plan benefits from qualified retirement plans, other than traditional individual retirement arrangements ("traditional IRAs"), generally will be subject to mandatory federal income tax withholding unless they are: (1)Part of a series of substantially equal periodic payments (at least annually) for (a)the participant's life or life expectancy, (b)the joint lives or life expectancies of the participant and his/ her beneficiary, (c)or a period certain of not less than 10 years; (2)Required minimum distributions; or (3)Qualifying hardship distributions. The withholding can be avoided if the participant's interest is directly rolled over by the old plan to another eligible retirement plan, including an IRA. A direct rollover transfer to the new plan can be made only in accordance with the terms of the old plan. The Company may be liable for payment of the generation skipping transfer tax under certain circumstances. In the event that the Company determines that such liability exists, an amount necessary to pay the generation skipping transfer tax may be subtracted from the death benefit proceeds. RETIREMENT PLANS Aside from Contracts purchased on a non-qualified basis the Contract described in this prospectus currently is designed for use with the following types of retirement plans: (1)Pension and Profit Sharing Plans established by business employers and certain associations, as permitted by Sections 401(a) and 401(k) of the Code, including those purchasers who would have been covered under the rules governing H.R. 10 (Keogh) Plans; (2)Individual Retirement Annuities permitted by Section 408(b) of the Code, including Simplified Employee Pensions established by employers pursuant to Section 408(k); (3)Roth IRAs permitted by Section 408A of the Code; and (4)Deferred compensation plans provided by certain governmental entities and tax-exempt organizations under Section 457. The tax rules applicable to participants in such retirement plans vary according to the type of plan and its terms and conditions. Therefore, no attempt is made here to provide more than general information about the use of the Contract with the various types of retirement plans. Participants in such plans as well as Owners, Annuitants, and Beneficiaries are cautioned that the rights of any person to any benefits under these plans are subject to the terms and conditions of the plans themselves, regardless of the terms and conditions of the Contract. The Company will provide purchasers of Contracts used in connection with Individual Retirement Annuities with such supplementary information as may be required by the Internal Revenue Service or other appropriate agency. Any person contemplating the purchase of a Contract should consult a qualified tax adviser. TAX TREATMENT OF THE COMPANY Under existing federal income tax laws, the income of MONY America Variable Account A, to the extent that it is applied to increase reserves under the Contract, is substantially nontaxable to the Company. The Company is entitled to certain tax benefits related to the investment of company assets, including assets of the separate accounts. These tax benefits, which may include the foreign tax credit and the corporate dividends received deduction, are not passed back to you, since the Company is the owner of the assets from which tax benefits may be derived. FEDERAL TAX STATUS 43 15. Additional information and incorporation of certain information by reference -------------------------------------------------------------------------------- This prospectus does not contain all the information set forth in the registration statement, certain portions of which have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission (the ''SEC''). The SEC allows us to "incorporate by reference" information that we file with the SEC into this prospectus, which means that incorporated documents are considered part of this prospectus. We can disclose important information to you by referring you to those documents. This prospectus incorporates by reference our annual report on Form 10-K for the year ended December 31, 2011. Please refer to Form 10-K for a description of the Company and its business, including financial statements. The Company intends to send Owners account statements and other such legally-required reports. The Company does not anticipate such reports will include periodic financial statements or information concerning the Company. The SEC adopted rule 12h-7 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which became effective May 1, 2009. Rule 12h-7 exempts an insurance company from filing reports under the Exchange Act when the insurance company issues certain types of insurance products that are registered under the Securities Act of 1933 and such products are regulated under state law. The units of the Guaranteed Interest Account with Market Value Adjustment described in this prospectus fall within the exemption provided under rule 12h-7. The Company is hereby providing notice that it is electing to rely on the exemption provided under rule 12h-7 effective May 1, 2012 or as soon as possible thereafter, and will be suspending filing reports under the Exchange Act. The Company files reports and other information with the SEC, as required by law. You may read and copy this information at the SEC's public reference facilities at Room 1580, 100 F Street, NE, Washington, DC 20549, or by accessing the SEC's website at www.sec.gov. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. Under the Securities Act of 1933, the Company has filed with the SEC a registration statement relating to the Guaranteed Interest Account with Market Value Adjustment (the ''Registration Statement''). This prospectus has been filed as part of the Registration Statement and does not contain all of the information set forth in the Registration Statement. Any statement contained in a document that is, or becomes part of this prospectus, will be considered changed or replaced for purposes of this prospectus if a statement contained in this prospectus changes or is replaced. Any statement that is considered to be a part of this prospectus because of its incorporation will be considered changed or replaced for the purpose of this prospectus if a statement contained in any other subsequently filed document that is considered to be part of this prospectus changes or replaces that statement. After that, only the statement that is changed or replaced will be considered to be part of this prospectus. We filed the Registration Statement and our Exchange Act documents and reports electronically according to EDGAR under CIK No. 0000835357. The SEC maintains a Web site that contains reports, proxy and information statements, and other information regarding registrants that file electronically with the SEC. The address of the site is www.sec.gov. Upon written or oral request, we will provide, free of charge, to each person to whom this prospectus is delivered, a copy of any or all of the documents considered to be part of this prospectus because they are incorporated herein. In accordance with SEC rules, we will provide copies of any exhibits specifically incorporated by reference into the text of the Exchange Act reports (but not any other exhibits). Requests for documents should be directed to MONY Life Insurance Company of America, 1290 Avenue of the Americas, New York, New York 10104, Attention: Corporate Secretary (telephone: (212) 554-1234). You can access our website at www.axa-equitable.com. 44 ADDITIONAL INFORMATION AND INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
16. Legal proceedings -------------------------------------------------------------------------------- MONY Life Insurance Company of America and its affiliates are parties to various legal proceedings. In our view, none of these proceedings would be considered material with respect to an Owner's interest in MONY America Variable Account A, nor would any of these proceedings be likely to have a material adverse effect upon MONY America Variable Account A, our ability to meet our obligations under the contracts, or the distribution of the contracts. LEGAL PROCEEDINGS 45 17. Financial statements -------------------------------------------------------------------------------- The audited financial statements of MONY America Variable Account A and the Company are set forth in the Statement of Additional Information. These financial statements have been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm. The financial statements of the Company should be considered only as bearing upon the ability of the Company to meet its obligations under the Contracts. You should not consider the financial statements of the Company as affecting investment performance of assets in the Variable Account. PricewaterhouseCoopers LLP also provides independent audit services and certain other non-audit services to the Company as permitted by the applicable SEC independence rules, and as disclosed in the Company's Form 10-K. PricewaterhouseCoopers LLP's address is 300 Madison Avenue, New York, New York 10017. ABOUT THE GENERAL ACCOUNT This Contract was offered to customers through various financial institutions, brokerage firms and their affiliate insurance agencies. No financial institution, brokerage firm or insurance agency has any liability with respect to a Contract's account value or any guaranteed benefits with which the Contract was issued. The Company is solely responsible to the Contract owner for the Contract's account value and such guaranteed benefits. The general obligations and any guaranteed benefits under the contract are supported by the Company's general account and are subject to the Company's claims paying ability. An owner should look to the financial strength of the Company for its claims-paying ability. Assets in the general account are not segregated for the exclusive benefit of any particular Contract or obligation. General account assets are also available to the insurer's general creditors and the conduct of its routine business activities, such as the payment of salaries, rent and other ordinary business expenses. For more information about the Company's financial strength, you may review its financial statements and/or check its current rating with one or more of the independent sources that rate insurance companies for their financial strength and stability. Such ratings are subject to change and have no bearing on the performance of the variable investment options. You may also speak with your financial representative. The general account is subject to regulation and supervision by the Insurance Department of the State of Arizona and to the insurance laws and regulations of all jurisdictions where we are authorized to do business. Interests under the contracts in the general account have not been registered and are not required to be registered under the Securities Act of 1933 because of exemptions and exclusionary provisions that apply. The general account is not required to register as an investment company under the Investment Company Act of 1940 and it is not registered as an investment company under the Investment Company Act of 1940. The contract is a "covered security" under the federal securities laws. We have been advised that the staff of the SEC has not reviewed the portions of this Prospectus that relate to the general account. The disclosure with regard to the general account, however, may be subject to certain provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses. 46 FINANCIAL STATEMENTS Appendix I: Condensed financial information -------------------------------------------------------------------------------- MONY LIFE INSURANCE COMPANY OF AMERICA MONY AMERICA VARIABLE ACCOUNT A ACCUMULATION UNIT VALUES
--------------------------------------------------------------------------------------------------------------------------- UNIT VALUE -------------------------------------------------------------------------------- DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, SUBACCOUNT 2011 2010 2009 2008 2007 2006 2005 2004 2003 All Asset Allocation $10.06 $10.57 $ 9.32 $ 7.49 $10.90 $10.57 $ 9.73 $ 9.37 $ 8.75 ---------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation 7.68 8.41 7.54 6.00 10.01 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation 10.47 10.41 9.84 9.08 10.34 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation 9.66 9.86 9.16 8.11 10.21 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation 9.17 9.52 8.78 7.60 10.20 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation 8.47 9.03 8.20 6.82 10.13 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- Dreyfus Stock Index Fund, Inc. 9.42 9.38 8.27 6.64 10.69 10.30 9.04 8.75 8.01 ---------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity 10.38 10.86 9.81 7.63 12.19 12.21 10.24 -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Boston Advisors Equity Income 12.24 12.46 10.92 9.92 14.85 14.51 12.68 12.10 10.41 ---------------------------------------------------------------------------------------------------------------------------- EQ/Calvert Socially Responsible 6.70 6.76 6.07 4.69 8.66 7.80 -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Research 8.86 8.61 7.52 5.78 9.69 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Core Bond Index 13.21 12.75 12.18 12.00 13.32 13.06 -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Equity Growth PLUS 10.04 10.85 9.54 7.57 12.85 11.42 10.58 -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions 13.96 13.96 12.91 11.22 13.20 12.93 11.69 11.33 10.90 ---------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small Company Value 30.46 32.00 24.45 17.52 25.61 23.75 20.26 19.68 16.50 ---------------------------------------------------------------------------------------------------------------------------- EQ/Intermediate Government Bond Index 14.16 13.60 13.19 -- -- -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Value Index 11.54 -- -- -- -- -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/MFS International Growth 11.60 13.16 11.61 8.57 14.55 12.69 10.24 9.18 8.84 ---------------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Index 13.61 14.10 11.34 8.41 16.77 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS 12.18 13.58 11.23 -- -- -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Money Market 10.49 10.63 10.77 10.88 10.77 10.40 10.07 -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth 11.05 10.89 10.20 7.97 12.04 10.10 9.49 9.12 8.88 ---------------------------------------------------------------------------------------------------------------------------- EQ/Morgan Stanley Mid Cap Growth 17.61 19.29 14.74 9.49 18.21 -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/PIMCO Ultra Short Bond 12.11 12.30 12.36 11.60 12.26 11.14 11.25 11.31 10.94 ---------------------------------------------------------------------------------------------------------------------------- EQ/Quality Bond PLUS 15.75 15.77 15.05 -- -- -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock 9.20 9.51 8.28 5.88 10.32 9.75 10.30 10.04 8.96 ---------------------------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income 10.78 11.24 10.08 7.71 13.04 13.06 11.60 10.79 9.66 ---------------------------------------------------------------------------------------------------------------------------- Fidelity(R) VIP Contrafund(R) Portfolio 13.93 14.51 12.56 9.38 16.57 14.29 12.98 11.26 9.90 ---------------------------------------------------------------------------------------------------------------------------- Franklin Income Securities Fund 16.84 16.67 14.99 11.21 16.15 15.78 13.53 13.49 12.01 ---------------------------------------------------------------------------------------------------------------------------- Franklin Rising Dividends Securities Fund 15.43 14.76 12.40 10.71 14.89 15.51 13.42 13.15 12.01 ---------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series Balanced Portfolio 15.57 15.53 14.52 11.69 14.08 12.91 11.82 11.10 10.37 ---------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series Enterprise Portfolio 10.51 10.80 8.70 6.09 10.97 9.11 8.13 7.33 6.16 ---------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series Forty Portfolio 11.61 12.61 11.97 8.29 15.05 11.14 10.32 9.27 7.95 ---------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series Worldwide Portfolio 7.81 9.18 8.03 5.91 10.83 10.02 8.59 8.22 7.95 ----------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------- --------- DEC. 31, SUBACCOUNT 2002 All Asset Allocation $ 7.34 --------------------------------------------------- AXA Aggressive Allocation -- --------------------------------------------------- AXA Conservative Allocation -- --------------------------------------------------- AXA Conservative-Plus Allocation -- --------------------------------------------------- AXA Moderate Allocation -- --------------------------------------------------- AXA Moderate-Plus Allocation -- --------------------------------------------------- Dreyfus Stock Index Fund, Inc. 6.33 --------------------------------------------------- EQ/BlackRock Basic Value Equity -- --------------------------------------------------- EQ/Boston Advisors Equity Income 8.33 --------------------------------------------------- EQ/Calvert Socially Responsible -- --------------------------------------------------- EQ/Capital Guardian Research -- --------------------------------------------------- EQ/Core Bond Index -- --------------------------------------------------- EQ/Equity Growth PLUS -- --------------------------------------------------- EQ/GAMCO Mergers and Acquisitions -- --------------------------------------------------- EQ/GAMCO Small Company Value 12.17 --------------------------------------------------- EQ/Intermediate Government Bond Index -- --------------------------------------------------- EQ/Large Cap Value Index -- --------------------------------------------------- EQ/MFS International Growth 6.85 --------------------------------------------------- EQ/Mid Cap Index -- --------------------------------------------------- EQ/Mid Cap Value PLUS -- --------------------------------------------------- EQ/Money Market -- --------------------------------------------------- EQ/Montag & Caldwell Growth 7.69 --------------------------------------------------- EQ/Morgan Stanley Mid Cap Growth -- --------------------------------------------------- EQ/PIMCO Ultra Short Bond 10.50 --------------------------------------------------- EQ/Quality Bond PLUS -- --------------------------------------------------- EQ/T. Rowe Price Growth Stock 5.94 --------------------------------------------------- EQ/UBS Growth and Income 7.67 --------------------------------------------------- Fidelity(R) VIP Contrafund(R) Portfolio 7.81 --------------------------------------------------- Franklin Income Securities Fund -- --------------------------------------------------- Franklin Rising Dividends Securities Fund -- --------------------------------------------------- Janus Aspen Series Balanced Portfolio 9.21 --------------------------------------------------- Janus Aspen Series Enterprise Portfolio 4.62 --------------------------------------------------- Janus Aspen Series Forty Portfolio 6.68 --------------------------------------------------- Janus Aspen Series Worldwide Portfolio 6.50 ---------------------------------------------------
APPENDIX I: CONDENSED FINANCIAL INFORMATION I-1
-------------------------------------------------------------------------------------------------------------------------------- UNIT VALUE ----------------------------------------------------------------------------------------- DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, SUBACCOUNT 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 Multimanager Small Cap Growth $15.08 $18.13 $14.40 $10.85 $18.99 $18.57 $17.07 $16.08 $14.49 $11.93 -------------------------------------------------------------------------------------------------------------------------------- Oppenheimer Global Securities Fund/VA 18.31 20.29 17.77 12.93 21.96 20.98 18.12 16.10 13.73 -- -------------------------------------------------------------------------------------------------------------------------------- PIMCO Variable Insurance Trust Global 19.22 18.11 16.44 14.26 14.57 13.46 13.04 14.15 12.97 11.49 Bond Portfolio (Unhedged) -------------------------------------------------------------------------------------------------------------------------------- ProFund VP Bear 4.52 5.03 6.20 8.71 6.31 6.36 6.97 7.16 8.09 -- -------------------------------------------------------------------------------------------------------------------------------- ProFund VP Rising Rates Opportunity 3.23 5.23 6.32 4.84 7.92 8.46 7.79 8.57 9.75 -- -------------------------------------------------------------------------------------------------------------------------------- ProFund VP UltraBull 10.25 10.92 9.06 6.35 19.74 19.84 16.34 16.14 13.96 -- --------------------------------------------------------------------------------------------------------------------------------
I-2 APPENDIX I: CONDENSED FINANCIAL INFORMATION
------------------------------------------------------------------------------------------------------------------------------ UNITS OUTSTANDING -------------------------------------------------------------------------------------------------------- DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, SUBACCOUNT 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 All Asset Allocation 2,249,246 2,681,015 3,190,836 3,976,044 5,513,287 7,300,951 9,232,209 11,109,364 13,202,566 15,109,160 ------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive 131,557 125,972 109,441 57,982 23,678 -- -- -- -- -- Allocation ------------------------------------------------------------------------------------------------------------------------------ AXA Conservative 170,983 221,943 178,106 171,180 25,364 -- -- -- -- -- Allocation ------------------------------------------------------------------------------------------------------------------------------ AXA Conservative- 112,840 155,794 158,842 191,867 84,997 -- -- -- -- -- Plus Allocation ------------------------------------------------------------------------------------------------------------------------------ AXA Moderate 358,670 371,177 476,016 592,487 235,127 -- -- -- -- -- Allocation ------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus 175,273 269,294 293,026 202,158 44,505 -- -- -- -- -- Allocation ------------------------------------------------------------------------------------------------------------------------------ Dreyfus Stock Index 1,488,411 1,831,626 2,258,134 3,003,891 4,131,405 5,268,532 6,734,123 8,132,629 9,138,583 9,933,628 Fund, Inc. ------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic 148,549 181,943 245,928 378,596 588,447 162,707 138,603 -- -- -- Value Equity ------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors 544,646 661,133 866,996 1,228,517 1,872,979 2,493,147 3,121,754 3,207,756 2,990,192 3,454,574 Equity Income ------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially 169,267 204,371 264,142 305,886 392,763 491,154 -- -- -- -- Responsible ------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian 222,032 277,556 346,955 464,204 704,758 -- -- -- -- -- Research ------------------------------------------------------------------------------------------------------------------------------ EQ/Core Bond Index 1,223,634 1,617,336 2,064,117 770,250 1,462,548 1,907,446 -- -- -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/Equity Growth 672,128 814,368 1,015,952 1,340,581 2,049,590 2,697,953 3,382,866 -- -- -- PLUS ------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers 124,211 145,562 181,250 228,727 307,858 355,264 281,983 226,652 191,335 -- and Acquisitions ------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small 1,240,734 1,525,805 1,863,329 2,470,253 3,497,734 4,619,713 6,024,921 7,075,206 7,841,899 8,512,905 Company Value ------------------------------------------------------------------------------------------------------------------------------ EQ/Intermediate 616,021 725,776 946,198 -- -- -- -- -- -- -- Government Bond Index ------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Value 262,505 -- -- -- -- -- -- -- -- -- Index ------------------------------------------------------------------------------------------------------------------------------ EQ/MFS International 464,762 566,604 733,386 951,223 1,314,677 1,619,060 1,680,543 1,911,713 2,103,075 2,031,440 Growth ------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Index 67,501 63,808 72,187 126,854 166,194 -- -- -- -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value 486,345 647,302 822,335 -- -- -- -- -- -- -- PLUS ------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market 1,016,824 1,476,653 1,814,818 2,886,956 3,268,106 3,783,141 4,407,396 -- -- -- ------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & 3,408,649 4,022,399 5,040,656 6,247,168 8,542,516 12,014,014 16,339,010 16,012,029 18,983,764 19,728,594 Caldwell Growth ------------------------------------------------------------------------------------------------------------------------------ EQ/Morgan Stanley 236,450 284,685 314,142 373,739 616,094 -- -- -- -- -- Mid Cap Growth ------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Ultra 241,075 303,672 462,400 453,559 444,115 607,070 800,622 925,861 915,521 593,890 Short Bond ------------------------------------------------------------------------------------------------------------------------------ EQ/Quality Bond 496,868 678,561 868,263 -- -- -- -- -- -- -- PLUS ------------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price 1,271,301 1,517,985 1,837,732 2,322,411 3,097,303 4,266,241 5,964,804 7,351,694 8,435,080 8,681,637 Growth Stock ------------------------------------------------------------------------------------------------------------------------------
APPENDIX I: CONDENSED FINANCIAL INFORMATION I-3
------------------------------------------------------------------------------------------------------------------------ UNITS OUTSTANDING ----------------------------------------------------------------------------------------- DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, DEC. 31, SUBACCOUNT 2011 2010 2009 2008 2007 2006 2005 2004 2003 EQ/UBS Growth and 1,545,593 1,877,719 2,301,746 2,986,644 4,058,934 5,288,888 6,768,008 8,081,277 9,561,842 Income ------------------------------------------------------------------------------------------------------------------------- Fidelity(R) VIP Contrafund(R) 1,496,304 1,814,712 2,228,837 2,979,630 4,309,960 4,132,884 4,769,384 5,109,618 5,524,076 Portfolio ------------------------------------------------------------------------------------------------------------------------- Franklin Income Securities 307,638 407,327 491,997 711,395 1,026,999 1,032,610 924,609 587,543 241,886 Fund ------------------------------------------------------------------------------------------------------------------------- Franklin Rising Dividends 165,260 163,952 173,655 246,117 358,103 418,715 347,075 333,759 216,239 Securities Fund ------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series 1,012,978 1,184,523 1,470,007 1,954,684 2,761,884 3,539,301 4,375,862 5,057,432 5,892,043 Balanced Portfolio ------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series 940,015 1,131,580 1,419,916 1,722,276 2,242,169 2,826,266 3,502,925 4,107,171 4,901,662 Enterprise Portfolio ------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series Forty 812,913 1,010,518 1,289,315 1,547,604 1,997,448 2,485,058 3,187,808 3,832,050 4,588,875 Portfolio ------------------------------------------------------------------------------------------------------------------------- Janus Aspen Series 981,953 1,206,618 1,502,931 1,795,688 2,357,570 2,964,196 3,890,586 4,838,805 5,937,772 Worldwide Portfolio ------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap 507,768 599,656 773,448 997,235 1,431,540 2,003,547 2,557,971 3,066,363 3,596,274 Growth ------------------------------------------------------------------------------------------------------------------------- Oppenheimer Global 194,493 240,081 329,171 528,621 879,138 1,058,049 995,554 764,151 262,808 Securities Fund/VA ------------------------------------------------------------------------------------------------------------------------- PIMCO Variable Insurance 144,199 165,708 224,099 311,052 444,312 568,823 672,896 649,315 539,620 Trust Global Bond Portfolio (Unhedged) ------------------------------------------------------------------------------------------------------------------------- ProFund VP Bear 43,007 54,582 46,231 117,167 38,052 37,753 32,469 28,387 11,301 ------------------------------------------------------------------------------------------------------------------------- ProFund VP Rising Rates 39,800 45,613 71,161 54,450 96,834 195,027 263,771 345,652 205,410 Opportunity ------------------------------------------------------------------------------------------------------------------------- ProFund VP UltraBull 50,540 75,957 120,086 67,276 74,392 93,443 123,690 157,450 125,726 -------------------------------------------------------------------------------------------------------------------------
------------------------------------------ ----------- DEC. 31, SUBACCOUNT 2002 EQ/UBS Growth and 11,273,375 Income ----------------------------------------- Fidelity(R) VIP Contrafund(R) 5,965,404 Portfolio ----------------------------------------- Franklin Income Securities -- Fund ----------------------------------------- Franklin Rising Dividends -- Securities Fund ----------------------------------------- Janus Aspen Series 6,980,943 Balanced Portfolio ----------------------------------------- Janus Aspen Series 5,654,695 Enterprise Portfolio ----------------------------------------- Janus Aspen Series Forty 5,496,952 Portfolio ----------------------------------------- Janus Aspen Series 7,157,869 Worldwide Portfolio ----------------------------------------- Multimanager Small Cap 3,994,202 Growth ----------------------------------------- Oppenheimer Global -- Securities Fund/VA ----------------------------------------- PIMCO Variable Insurance 410,504 Trust Global Bond Portfolio (Unhedged) ----------------------------------------- ProFund VP Bear -- ----------------------------------------- ProFund VP Rising Rates -- Opportunity ----------------------------------------- ProFund VP UltraBull -- -----------------------------------------
I-4 APPENDIX I: CONDENSED FINANCIAL INFORMATION Statement of additional information -------------------------------------------------------------------------------- TABLE OF CONTENTS MAY 1, 2012
PAGE Additional information about the Company 2 About our independent registered public accounting firm 2 Sale of the contracts 2 Federal tax status 2 Financial statements 4
If you would like to receive a copy of the MONY America Variable Account A Statement of Additional Information, please return this request to: MONYLife Insurance Company of America PolicyholderServices 100Madison Street Syracuse,New York 13202 1-800-487-6669 www.axa-equitable.com.
---------------------------------------------------------------------------------- Please send me a copy of the MONY America Variable Account A Statement of Additional Information. ---------------------------------------------------------------------------------- Name ---------------------------------------------------------------------------------- Address ---------------------------------------------------------------------------------- City State Zip
MLA-CM PART II ITEM 13.OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION
ESTIMATED ITEM OF EXPENSE EXPENSE --------------- --------- Registration fees........................................... $ 0 Federal taxes............................................... N/A State taxes and fees (based on 50 state average)............ N/A Trustees' fees.............................................. N/A Transfer agents' fees....................................... N/A Printing and filing fees.................................... $50,000* Legal fees.................................................. N/A Accounting fees............................................. N/A Audit fees.................................................. $20,000* Engineering fees............................................ N/A Directors and officers insurance premium paid by Registrant. N/A
-------- * Estimated expense. ITEM 14.INDEMNIFICATION OF DIRECTORS AND OFFICERS The By-Laws of MONY Life Insurance Company of America provide, in Article VI as follows: ARTICLE VI INDEMNIFICATION OF OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS SECTION 1. NATURE OF INDEMNITY. The Corporation shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative, or investigative, by reason of the fact that he or she is or was or has agreed to become a director or officer of the Corporation, or is or was serving or has agreed to serve at the request of the Corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise, or by reason of any action alleged to have been taken or omitted in such capacity, and may indemnify any person who was or is a party or is threatened to be made a party to such an action, suit or proceeding by reason of the fact that he or she is or was or has agreed to become an employee or agent of the Corporation, or is or was serving or has agreed to serve at the request of the Corporation as an employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him or her or on his or her behalf in connection with such action, suit or proceeding and any appeal therefrom, if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal action or proceeding had no reasonable cause to believe his or her conduct was unlawful; except that in the case of an action or suit by or in the right of the Corporation to procure a judgment in its favor (1) such indemnification shall be limited to expenses (including attorneys' fees) actually and reasonably incurred by such person in the defense or settlement of such action or suit, and (2) no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the Corporation unless and only to the extent that the court in which such action or suit was brought or other court of competent jurisdiction shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably 1 entitled to indemnity. The termination of any action, suit or proceeding by judgment, order, settlement, conviction or upon a plea of no contest or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe that his or her conduct was unlawful. SECTION 6. SURVIVAL; PRESERVATION OF OTHER RIGHTS. The foregoing indemnification provisions shall be deemed to be a contract between the Corporation and each director, officer, employee and agent who serves in any such capacity at any time while these provisions as well as the relevant provisions of Title 10, Arizona Revised Statutes are in effect and any repeal or modification thereof shall not affect any right or obligation then existing with respect to any state of facts then or previously existing or any action, suit or proceeding previously or thereafter brought or threatened based in whole or in part upon any such state of facts. Such a "contract right" may not be modified retroactively without the consent of such director, officer, employee or agent. The indemnification provided by this Article shall not be deemed exclusive of any other right to which those indemnified may be entitled under any by-law, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in his or her official capacity and as to action in another capacity while holding such office, and shall continue as to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of the heirs, executors and administrators of such a person. SECTION 7. INSURANCE. The Corporation may purchase and maintain insurance on behalf of any person who is or was a director or officer of the Corporation, or is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity or arising out of his or her status as such, whether or not the Corporation would have the power to indemnify such person against such liability under the provisions of this By-Law. ITEM 15. RECENT SALES OF UNREGISTERED SECURITIES None ITEM 16. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES (1) Underwriting Agreement. (a) Wholesale Distribution Agreement dated April 1, 2005 by and between MONY Life Insurance Company of America, MONY Securities Corporation, and AXA Distributors, LLC, is incorporated herein by reference to the Registration Statement on Form S-3 (File No. 333-177419) filed on October 20, 2011. (b) Broker-Dealer Distribution and Servicing Agreement dated June 6, 2005, made by and between MONY Life Insurance Company of America and AXA Advisors, LLC, is incorporated herein by reference to Post-Effective Amendment No. 1 to the Registration Statement on Form S-1 (File No. 333-180068), filed on March 13, 2012. (c) General Agent Sales Agreement dated June 6, 2005, by and between MONY Life Insurance Company of America and AXA Network, LLC, incorporated herein by reference to Post-Effective Amendment No. 1 to the Registration Statement on Form S-1 (File No. 333-180068), filed on March 13, 2012. (i) First Amendment dated as of August 1, 2006 to General Agent Sales Agreement dated as of August 1, 2006 by and between MONY Life Insurance Company of America and AXA Network, incorporated herein by reference to Exhibit (c)(9) to the Registration Statement on Form N-6 (File No. 333-134304) filed on March 1, 2012. (ii) Second Amendment dated as of April 1, 2008 to General Agent Sales Agreement dated as of April 1, 2008 by and between MONY Life Insurance Company of America and AXA Network, LLC, is incorporated herein by reference to Exhibit (d) (ii) to the Registration Statement on Form S-1 (File No. 333-180068) filed on March 13, 2012. (2) Not Applicable. (3)(i) Articles of Incorporation. (a) Articles of Restatement of the Articles of Incorporation of MONY Life Insurance Company of America (as Amended July 22, 2004), incorporated herein by reference to post-effective amendment no. 7 to the registration statement on Form N-4 (File No. 333-72632) filed on April 22, 2005. (3)(ii) By-Laws. (a) By-Laws of MONY Life Insurance Company of America (as Amended July 22, 2004), incorporated herein by reference to post-effective amendment no. 8 to the registration statement on Form N-4 (File No. 333-72632) filed on May 4, 2005. (4) Form of contract. (a) Proposed form of flexible payment variable annuity contract, incorporated herein by reference to Exhibit 4 to Registration Statement (File No. 333-59717) on Form N-4, filed on July 23, 1998. (b) Proposed form of flexible payment variable annuity contract, incorporated herein by reference to Exhibit 4 to Registration Statement (File No. 333-72632) on Form N-4, filed on January 9,2002. 2 (5) Opinion and consent of counsel regarding legality (a) Opinion and consent of Dodie Kent as to the legality of securities being registered, filed herewith. (8) Opinion and consent of Robert Levy as to tax matters, incorporated herein by reference to Post-Effective Amendment No. 1 to Form S-l on Form S-2 (File No. 333-105089) filed on August 4,2004. (9) Not Applicable. (10) Material Contracts. (a) Services Agreement between The Mutual Life Insurance Company of New York and MONY Life Insurance Company of America, incorporated herein by reference to Post-Effective Amendment No. 22 to the registration statement on Form N-6 (File No. 333-06071) filed on April 30, 2003. (b) Amended and Restated Services Agreement between MONY Life Insurance Company of America and AXA Equitable Life Insurance Company dated as of February 1, 2005, incorporated herein by reference to Exhibit 10.2 to Annual Report (File No. 333-65423) on Form 10-K, filed on March 31, 2005. (11) Not Applicable. (12) Not Applicable. (15) Not Applicable. (16) Not Applicable. (21) Not Applicable. (23) Consents of Experts and Counsel. (a) Consent of PricewaterhouseCoopers LLP, filed herewith. (b) See Item (5) above. (24) Powers of Attorney. (a) Powers of Attorney, filed herewith. (25) Not Applicable. (26) Not Applicable. 3 ITEM 17.UNDERTAKINGS (a) The undersigned registrant hereby undertakes: (1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: (i) to include any prospectus required by section 10 (a) (3) of the Securities Act of 1933; (ii)to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424 (b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement; (iii)to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement; provided, however, that paragraphs (a) (1) (i), (a) (1) (ii) and (a) (1) (iii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or 15 (d) of the Securities Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424 (b) that is part of this Registration Statement. (2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. (3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. (4) That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser, each prospectus filed pursuant to Rule 424 (b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use. 4 (5) That, for the purpose of determining liability of the Registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities: The undersigned Registrant undertakes that in a primary offering of securities of the undersigned Registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned Registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser: (i) Any preliminary prospectus or prospectus of the undersigned Registrant relating to the offering required to be filed pursuant to Rule 424; (ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned Registrant or used or referred to by the undersigned Registrant; (iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned Registrant or its securities provided by or on behalf of the undersigned Registrant; and (iv) Any other communication that is an offer in the offering made by the undersigned Registrant to the purchaser. (b) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. 5 SIGNATURES Pursuant to the requirements of the Securities Act of 1933, the Registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City and State of New York, on this 27th day of April, 2012. MONY Life Insurance Company of America (Registrant) By: /s/ Dodie Kent ----------------------------------- Dodie Kent Vice President and Associate General Counsel MONY Life Insurance Company of America Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the date indicated: PRINCIPAL EXECUTIVE OFFICERS: *Mark Pearson Chairman of the Board, President and Chief Executive Officer, Director PRINCIPAL FINANCIAL OFFICER: *Bertrand Poupart-Lafarge Executive Vice President, Chief Investment Officer, Treasurer and interim Chief Financial Officer PRINCIPAL ACCOUNTING OFFICER: *Andrea M. Nitzan Executive Vice President (acting Principal Accounting Officer) *DIRECTORS: Mark Pearson Danny L. Hale Ramon de Oliveira Henri de Castries Anthony J. Hamilton Lorie A. Slutsky Denis Duverne Peter S. Kraus Ezra Suleiman Charlynn Goins Andrew J. McMahon Richard C. Vaughan *By: /s/ Dodie Kent ------------------------- Dodie Kent Attorney-in-Fact April 27, 2012 EXHIBIT INDEX EXHIBIT NO. DESCRIPTION TAG VALUE ----------- ------------------------------------------------------ ---------- (5) (a) Opinion and Consent of Dodie Kent EX-99.5a (23) (a) Consent of PricewaterhouseCoopers LLP EX-99.23a (24) (a) Powers of Attorney Ex-99.24a