EQUI-VEST® Series 100/200 Variable Annuities - WCERS

EQUI-VEST?

Series 100/200 Variable Annuities

Annualized Rates of Return as of 01/31/2015, Annualized Monthly Rates of Return For the Period Ending 01/31/2015 - net of annual administrative charge and the maximum

applicable withdrawal charge and Standardized Computation of Performance as of 12/31/2014

Please refer to these notes when reviewing the performance information on the accompanying pages.

The performance data represents past performance,

which is not an estimate, indication or guarantee of future results. Rates of return and principal will fluctuate and units may be worth more or less than your

original contribution when redeemed. Current performance may be lower or higher than the performance data quoted.

EQUI-VEST is a combination variable and fixed annuity deferred contract issued by AXA Equitable Life Insurance Company (New York, NY) and is designed to help people

to contribute toward their retirement. Annuities are long-term investment products designed for retirement purposes.

The ¡°Annualized Monthly Rates of Return¡± performance shown reflects reinvestment of dividends and capital gains and deduction of all annuity

except the withdrawal charges and the annual administrative charge. The ¡°Standardized¡± (SEC) quarter end performance is net of all annuity

including the annual administrative charge and the maximum applicable withdrawal charge of 6%. The performance figures do not reflect the cost

they did, performance returns would have been lower. Withdrawals will be subject to ordinary income tax and, if made prior to age 59 ?, may

10% federal income tax penalty.

contract fees and charges

contract fees and charges

of optional features, and if

be subject to an additional

The ¡°Portfolio Inception Date¡± is the date that the underlying portfolio was established. The ¡°Variable Investment Option Inception Date¡± is the date that the variable

investment option was first offered to contract owners. The results shown for periods from the inception of a variable investment option are based on actual historical

investment experiences of the variable investment option.

Results shown from the Portfolio Inception Date to the Variable Investment Option Inception Date are

hypothetical. For these ¡°predating¡± instances when the variable investment options had not yet commenced operations (The time period from the Portfolio Inception Date to

the Variable Investment Option Inception Date), we have shown hypothetical results that would have applied had it been in operation. Except for the "Since Variable

Investment Option Inception", performance is available back to Portfolio Inception Date.

The current yield for the EQ/Money Market A portfolio as of 01/31/2015 is 0.00% and as of 12/31/2014 is 0.00%.

This yield quotation more closely reflects the current

earnings of the investment portfolio than the total return quotation. It does not reflect any product related expenses or charges. This is a seven day current yield as of the

last day of the month to which the performance relates. An investment in the portfolio is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other

government agency. Although the portfolio seeks to preserve the value of your investment, it is possible to lose money by investing in this portfolio.

AXA Equitable Life Insurance Company, through its AXA Funds Management Group, LLC, serves as investment manager of the Allocation Portfolios. AXA Equitable is

solely responsible for the asset allocation decisions made on behalf of each portfolio, and or the selection and allocation of assets to underlying portfolios. Investing in the

Allocation Portfolios will involve a higher overall cost than if you were to invest directly in the underlying portfolios. It is important to note that asset allocation does not

assure a profit or protect against loss in a declining market.

Investments in large-cap companies may involve the risk that larger more established companies may be unable to respond quickly to new competitive challenges such as

changes in technology and consumer tastes.

Investments in small/mid cap companies may involve greater risks than investments in larger, more established issuers because they generally are more vulnerable than

larger companies to adverse business or economic developments.

Such companies generally have narrower product lines, more limited financial resources and more

limited markets for their stock as compared with larger companies.

Investments in foreign securities, including depository receipts, involve risk not associated with investing in U.S. securities. Foreign markets, particularly emerging markets,

may be less liquid, more volatile and subject to less government supervision than domestic markets. Differences between U.S. and foreign legal, political and economic

systems, regulatory regimes and market practices also may impact security values and it may take more time to clear and settle trades involving foreign securities.

Interest Rate Risk applies to fixed income securities. Fixed income securities will decline in value because of changes in interest rates.

a portfolio's debt securities generally declines. When interest rates decline, the value of a portfolio's debt securities generally rises.

When interest rates rise, the value of

Despite the short maturities and high credit quality of the EQ/Money Market Portfolio¡¯s investments, increases in interest rates and deteriorations in the credit quality of the

instruments the Portfolio has purchased may reduce the Portfolio¡¯s yield and can cause the price of a money market security to decrease.

Bonds rated below investment grade (i.e. BB by S&P or Fitch or Ba by Moody's) are speculative in nature and are subject to additional risk factors such as increased

possibility of default, illiquidity of the security, and changes in value based on changes in interest rates. "Junk bonds" are usually issued by companies without long track

records of sales and earnings, or by those companies with questionable credit strength.

Page 1 of 11

Derivatives are subject to a number of risk such as leverage risk, liquidity risk, interest rate risk, market risk, credit risk and also involve the risk of mispricing or improper

valuation. The Portfolio's investments in derivatives may rise or fall more rapidly than other investments.

Certain investments may involve credit risk. Credit risk is the risk that the issuer or the guarantor of a fixed income security, or the counterparty to a derivatives contract,

repurchase agreement, loan of portfolio securities or other transaction, is unable or unwilling, or is perceived (whether by market participants, ratings agencies, pricing

services or otherwise) as unable or unwilling, to make timely principal and/or interest payments, or otherwise honor its obligations.

Investing in value stocks is based upon a portfolio's manager subjective assessment of fundamentals of the companies he believes are undervalued. This style of investing

may increase the volatility of the portfolio and may not produce the intended results over short or long time periods. Larger, more established companies may not be able to

attain higher growth rates of smaller companies, especially during extended periods of economic expansion.

Investing in growth stocks is based upon a portfolio manager's subjective assessment of fundamentals companies he or she believes offer the potential for price

appreciation. This style of investing involves risks and investors can lose money.

For non-diversified portfolios, more of the portfolios' assets may be focused in a smaller number of issues or one sector of the market, which may make the value of the

portfolio's shares more susceptible to certain risks than shares of a diversified portfolio. Investing in stocks of new and unseasoned companies may provide the potential for

greater returns, but is generally more volatile and the risks of loss of principal are greater than the portfolios investing in stocks of larger, more established companies.

In general, stocks and other equity security values fluctuate, and sometimes widely fluctuate, in response to changes in a company's financial condition as well as general

market, economic and political conditions.

A copy of the current prospectus and any applicable prospectus supplement(s) for this product, the EQ Advisors Trust, and the AXA Premier VIP Trust must accompany or

precede delivery of this material. The prospectus contains complete information about the policy, including investment objectives, risks, charges and expenses. Please read

the prospectus carefully before purchasing. This product has limitations. For costs and complete details of coverage, call your licensed insurance agent.

What is a Variable Annuity?

A variable annuity is a long-term, tax-deferred accumulation product .

In its most basic terms, an annuity is a contract between you and an insurance

company to accumulate funds and then to provide lifetime payments . A variable annuity allows you to adopt a personal investment strategy to allocate your

investment among a range of investment portfolio options .

An annuity contract has two phases: An accumulation phase, which allows tax-deferred growth

potential, and an annuitization phase, when you withdraw your money plus any earnings your annuity has accumulated.

There are fees and charges associated with variable annuities, which include, but are not limited to, mortality and expense risk charges, sales and surrender

charges, administrative fees, and additional charges for optional benefits . Amounts in the annuity's variable investment options are subject to fluctuation in

value and market risk, including loss of principal. Certain types of contracts, features and benefits may not be available in all jurisdictions.

Variable annuities: Are Not a Deposit of Any Bank * Are Not FDIC Insured * Are Not Insured by Any Federal Government Agency *

Are Not Guaranteed by Any Bank or Savings Association * May Go Down in Value

¡°AXA¡± is the brand name of AXA Equitable Financial Services, LLC and its family of companies, including AXA Equitable Life Insurance Company(NY,NY), MONY Life

Insurance Company of America(AZ stock company, administrative office: NY,NY), AXA Advisors, LLC, and AXA Distributors, LLC. AXA S.A. is a French holding company

for a group of international insurance and financial services companies, including AXA Equitable Financial Services, LLC. The obligations of AXA Equitable Life Insurance

Company and MONY Life Insurance Company of America are backed solely by their claims-paying ability.

EQUI-VEST is a registered service mark of and is issued by AXA Equitable Life Insurance Company (AXA Equitable).

The main administrative office of AXA Equitable is located at 1290 Avenue of the Americas, New York, NY 10104. Co-distributed by AXA Advisors, LLC and AXA Distributors,

LLC, both located at 1290 Avenue of the Americas, New York, NY 10104, (212) 554-1234. AXA Equitable, AXA Advisors, LLC and AXA Distributors, LLC are subsidiaries of

AXA Financial, Inc. and do not provide tax or legal advice.

GE69880(9/12)

Cat. # 150223

Page 2 of 11

EQUI-VEST?

Series 100/200 Variable Annuities

Annualized Monthly Rates of Return as of 01/31/2015

Since Variable

Investment

Option Inception

Variable

Investment

Option

Inception Date

Since Portfolio

Inception

Portfolio

Inception Date

3.65

05/20/2013

8.10

08/29/2012

6.22

09/18/2009

7.61

08/01/1988

2.33

05/20/2013

5.27

08/29/2012

4.54

10/20/2003

5.03

07/31/2003

6.21

07/20/2009

6.83

04/30/2009

2.29

10/20/2003

2.52

07/31/2003

4.43

5.23

07/20/2009

5.86

04/30/2009

2.03

2.50

2.87

07/20/2009

3.46

04/30/2009

2.65

4.44

4.45

2.46

2.90

10/20/2003

3.19

07/31/2003

-0.63

3.43

6.26

5.85

3.46

6.76

01/27/1986

6.76

01/27/1986

AXA Moderate Growth Strategy

-1.20

4.45

7.41

6.34

8.69

05/21/2012

8.35

04/30/2009

AXA Moderate-Plus Allocation

-1.43

3.55

8.06

6.82

4.22

10/20/2003

4.67

07/31/2003

AXA/Franklin Balanced Managed Volatility

-0.96

4.99

7.91

7.26

2.91

09/18/2006

2.90

09/15/2006

AXA/Franklin Templeton Allocation Managed Volatility

-1.85

5.05

10.71

8.27

0.98

05/29/2007

1.21

04/30/2007

EQ/AllianceBernstein Dynamic Wealth Strategies

-0.64

5.07

6.84

8.43

05/21/2012

4.49

02/18/2011

Target 2015 Allocation

-0.62

2.96

6.29

5.90

2.17

09/18/2006

2.22

08/31/2006

Target 2025 Allocation

-1.25

4.20

8.40

7.46

2.53

09/18/2006

2.58

08/31/2006

Target 2035 Allocation

-1.59

4.83

9.65

8.39

2.72

09/18/2006

2.78

08/31/2006

Target 2045 Allocation

-1.90

5.29

10.80

9.17

2.76

09/18/2006

2.82

08/31/2006

AXA Large Cap Value Managed Volatility

-4.12

10.45

15.03

11.35

2.91

2.79

08/30/1999

3.74

01/01/1998

EQ/BlackRock Basic Value Equity

-5.19

6.91

13.80

11.47

5.15

6.42

06/02/1997

6.81

05/01/1997

EQ/Boston Advisors Equity Income

-3.65

8.11

14.20

12.59

4.78

5.40

10/25/2004

4.03

12/01/1998

EQ/Invesco Comstock

-4.98

6.39

14.79

12.43

4.74

05/09/2005

4.80

04/29/2005

EQ/JPMorgan Value Opportunities

-4.63

12.78

16.07

12.09

3.94

06/02/1997

4.21

05/01/1997

EQ/Large Cap Value Index

-4.14

10.65

15.36

12.77

-0.74

10/17/2005

-1.04

10/03/2005

AXA 500 Managed Volatility

-3.20

11.58

14.70

11.60

9.64

05/03/2010

13.63

05/27/2009

AXA Large Cap Core Managed Volatility

-3.06

11.01

14.62

11.62

2.10

08/30/1999

2.11

01/01/1999

AXA/Mutual Large Cap Equity Managed Volatility

-2.67

9.17

13.50

10.15

2.99

09/18/2006

2.96

09/15/2006

EQ/Common Stock Index

-2.82

11.40

15.51

13.88

4.67

7.21

9.57

08/27/1981

8.77

08/01/1968

EQ/Equity 500 Index

-3.13

11.99

15.14

13.44

5.74

7.63

7.55

06/01/1994

7.40

03/01/1994

EQ/UBS Growth and Income

-3.02

13.05

15.07

12.49

5.22

5.99

10/25/2004

3.57

12/01/1998

Fidelity VIP Contrafund

-2.59

10.38

14.77

12.96

7.04

10.70

05/03/2010

4.87

01/12/2000

MFS Investors Trust Series

-4.15

8.57

15.03

11.70

5.97

10.09

05/03/2010

2.66

05/01/2000

AXA Large Cap Growth Managed Volatility

-1.86

10.68

15.12

12.65

6.51

4.63

06/02/1997

5.10

05/01/1997

AXA/Loomis Sayles Growth

-1.36

8.89

12.50

10.63

6.07

6.52

10/25/2004

3.03

12/01/1998

EQ/Calvert Socially Responsible

-3.54

11.84

16.08

13.65

4.92

1.52

09/01/1999

1.52

09/01/1999

EQ/Capital Guardian Research

-2.05

11.29

15.18

14.75

5.71

4.38

08/30/1999

4.20

05/01/1999

EQ/Large Cap Growth Index

-1.71

12.23

15.05

14.27

7.46

1.33

08/30/1999

1.36

05/01/1999

EQ/T. Rowe Price Growth Stock

-0.28

8.98

16.95

15.07

5.38

5.62

10/25/2004

7.59

08/01/1988

EQ/Wells Fargo Omega Growth

-2.45

2.78

14.84

13.15

7.88

3.39

08/30/1999

3.34

01/01/1999

MFS Investors Growth Stock Series

-2.99

10.23

14.34

12.38

6.07

13.54

09/20/2010

0.51

05/01/2000

Multimanager Aggressive Equity

-1.46

9.91

16.23

13.62

5.49

7.89

01/27/1986

7.89

01/27/1986

Year

to Date*

1 Year

All Asset Aggressive-Alt 25

-0.81

2.90

All Asset Growth-Alt 20

-0.61

2.80

All Asset Moderate Growth-Alt 15

-0.41

2.49

AXA Aggressive Allocation

-2.13

4.73

10.65

8.47

AXA Balanced Strategy

-0.82

3.82

6.05

5.40

AXA Conservative Allocation

0.23

1.87

2.01

2.75

AXA Conservative Growth Strategy

-0.43

3.19

4.74

AXA Conservative Strategy

0.32

1.91

AXA Conservative-Plus Allocation

-0.43

AXA Moderate Allocation

Variable Investment Option

3 Years

5 Years

10 Years

20 Years

5.86

6.84

3.14

5.30

Asset Allocation

3.87

1.98

5.51

3.44

Large Cap Value Stocks

4.87

Large Cap Blend Stocks

4.67

Large Cap Growth Stocks

GE69880(9/12)

Cat. # 150223

* Performance is not annualized.

Page 3 of 11

6.42

4.03

EQUI-VEST?

Series 100/200 Variable Annuities

Annualized Monthly Rates of Return as of 01/31/2015

Since Variable

Investment

Option Inception

Variable

Investment

Option

Inception Date

Since Portfolio

Inception

Portfolio

Inception Date

11.45

7.66

05/03/2010

13.85

05/27/2009

12.56

9.31

05/03/2010

15.13

05/27/2009

4.76

06/02/1997

5.11

05/01/1997

3.41

09/18/2006

3.43

09/15/2006

3.29

4.55

10/25/2004

5.13

12/01/1998

10.42

2.89

5.47

08/30/1999

4.48

01/01/1998

12.76

15.87

7.64

6.10

06/02/1997

6.68

05/01/1997

1.99

13.39

14.91

9.41

10.28

10/25/2004

11.54

08/01/1988

-1.28

8.65

14.64

14.67

4.99

4.03

09/01/2000

4.03

09/01/2000

EQ/Morgan Stanley Mid Cap Growth

-1.25

-2.32

9.74

12.08

8.10

05/09/2005

8.35

04/29/2005

EQ/Small Company Index

-3.29

3.25

13.15

13.59

6.39

01/14/2002

5.37

01/01/1998

Goldman Sachs VIT Mid Cap Value

-2.92

11.26

16.04

14.33

11.01

05/03/2010

6.17

01/09/2006

Invesco V.I. Mid Cap Core Equity

-3.08

2.13

9.03

8.12

5.09

6.20

05/03/2010

5.75

09/10/2001

Invesco V.I. Small Cap Equity

-3.63

1.53

11.71

13.42

6.83

9.93

05/03/2010

7.50

08/29/2003

Ivy Funds VIP Mid Cap Growth

-2.09

5.97

12.13

14.99

8.66

05/20/2011

9.76

04/28/2005

Ivy Funds VIP Small Cap Growth

-2.86

-0.85

10.12

10.88

5.40

7.76

05/03/2010

8.80

05/03/1994

Multimanager Mid Cap Growth

-2.19

3.02

14.04

13.74

6.46

4.29

01/14/2002

4.16

12/31/2001

Multimanager Mid Cap Value

-2.87

4.00

13.09

10.67

5.86

5.66

01/14/2002

5.42

12/31/2001

Year

to Date*

1 Year

3 Years

5 Years

AXA 2000 Managed Volatility

-3.41

2.21

12.73

AXA 400 Managed Volatility

-1.31

8.41

14.13

AXA Mid Cap Value Managed Volatility

-1.98

9.75

15.96

12.89

AXA/Franklin Small Cap Value Managed Volatility

-4.53

0.46

11.82

11.21

Charter Small Cap Growth

-3.88

-6.34

11.06

10.24

Charter Small Cap Value

-5.39

-7.27

10.36

EQ/AllianceBernstein Small Cap Growth

-2.85

1.00

EQ/GAMCO Small Company Value

-4.14

EQ/Mid Cap Index

Variable Investment Option

10 Years

20 Years

Small/Mid Cap Stocks

5.51

11.43

5.92

8.13

Global/International Stocks

AXA Global Equity Managed Volatility

-0.97

3.66

8.88

6.33

7.13

4.44

08/20/1997

4.44

08/20/1997

AXA International Core Managed Volatility

-0.06

-2.85

4.94

2.80

2.24

1.25

08/30/1999

1.70

05/01/1999

AXA International Managed Volatility

0.38

-3.22

6.56

2.80

2.41

05/03/2010

5.30

05/27/2009

AXA International Value Managed Volatility

0.15

-3.90

5.75

2.49

1.76

08/30/1999

3.80

05/01/1997

AXA/Templeton Global Equity Managed Volatility

-1.90

1.52

11.19

7.76

1.47

09/18/2006

1.46

09/15/2006

EQ/Emerging Markets Equity PLUS

-0.69

3.27

-5.73

05/20/2013

-5.79

02/08/2013

EQ/International Equity Index

0.37

-3.54

6.47

3.86

1.02

1.70

09/01/1995

1.92

04/03/1995

EQ/MFS International Growth

0.35

-0.05

5.31

5.45

4.88

4.93

05/09/2005

3.50

11/18/1994

EQ/Oppenheimer Global

-0.57

3.39

12.18

9.33

3.79

09/18/2006

3.92

08/31/2006

Invesco V.I. International Growth

-0.64

3.80

7.92

6.79

5.76

6.17

05/03/2010

6.60

09/19/2001

Lazard Retirement Emerging Markets Equity

-0.66

1.81

-0.50

2.28

7.65

-0.92

09/20/2010

6.22

11/04/1997

MFS International Value

2.59

6.94

13.16

9.51

6.90

9.45

05/03/2010

7.96

08/24/2001

American Funds Insurance Series Bond

2.06

4.25

1.49

2.70

2.07

1.44

05/20/2013

3.29

01/02/1996

Charter Multi-Sector Bond

1.37

1.54

0.90

2.35

0.55

2.54

01/04/1994

4.21

01/02/1987

EQ/Core Bond Index

1.51

1.78

0.17

1.52

0.41

1.22

01/14/2002

2.21

01/01/1998

EQ/Global Bond PLUS

0.69

-0.05

-0.87

1.06

2.19

10/17/2005

2.03

10/03/2005

EQ/High Yield Bond

0.38

0.43

1.50

05/20/2013

3.02

02/08/2013

EQ/Intermediate Government Bond

1.19

0.80

-0.78

0.79

1.17

2.91

2.79

06/01/1994

3.24

04/01/1991

EQ/Money Market

-0.11

-1.39

-1.40

-1.34

0.10

1.32

3.24

07/13/1981

3.24

07/13/1981

EQ/PIMCO Global Real Return

2.91

7.60

0.46

05/20/2013

0.89

02/08/2013

EQ/PIMCO Ultra Short Bond

-0.25

-1.70

-1.08

-1.03

0.40

0.43

05/09/2005

1.32

01/24/2002

EQ/Quality Bond PLUS

1.65

2.28

0.03

0.86

0.91

2.88

01/04/1994

2.79

10/01/1993

Invesco V.I. High Yield

0.43

0.25

5.61

5.95

5.06

4.15

05/20/2011

6.04

03/26/2002

Ivy Funds VIP High Income

-0.49

-0.66

7.33

8.25

6.60

7.80

09/20/2010

6.38

07/13/1987

Multimanager Core Bond

1.80

2.98

1.07

2.41

2.88

2.94

01/14/2002

3.09

12/31/2001

1.59

3.81

Fixed Income

GE69880(9/12)

Cat. # 150223

* Performance is not annualized.

Page 4 of 11

2.86

3.29

6.24

EQUI-VEST?

Series 100/200 Variable Annuities

Annualized Monthly Rates of Return as of 01/31/2015

Variable Investment Option

Year

to Date*

1 Year

3 Years

5 Years

10 Years

20 Years

Since Variable

Investment

Option Inception

Variable

Investment

Option

Inception Date

Since Portfolio

Inception

Portfolio

Inception Date

Sector/Specialty

EQ/GAMCO Mergers and Acquisitions

-1.51

-0.65

3.53

4.16

3.35

3.48

05/09/2005

3.95

05/01/2003

Invesco V.I. Global Real Estate

4.05

18.71

11.70

11.15

6.01

8.82

05/03/2010

8.02

04/30/2004

Ivy Funds VIP Energy

-3.07

-11.07

0.97

3.90

2.11

05/03/2010

1.92

05/01/2006

MFS Technology

-4.22

6.09

14.11

14.37

9.39

13.42

09/20/2010

4.13

08/24/2001

MFS Utilities Series

-1.27

9.88

13.00

12.37

9.96

12.39

09/20/2010

6.46

05/01/2000

Multimanager Technology

-3.43

9.35

14.80

14.08

7.63

4.38

01/14/2002

4.52

12/31/2001

Van Eck VIP Global Hard Assets

-3.86

-19.48

-7.95

-1.44

-9.41

05/20/2011

0.34

05/01/2006

GE69880(9/12)

Cat. # 150223

* Performance is not annualized.

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