Indexed Universal Life insurance | Equitable

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1 Your policy’s cash value must be sufficient to cover your monthly charges. Indexed universal life insurance as used here refers to policies that have not been registered with U.S Securities and Exchange Commission. 

2  Under current federal tax rules, you may access your cash surrender value by taking federal income tax-free loans or withdrawals from a life insurance policy that is not a Modified Endowment Contract (MEC) of up to your basis (total premiums paid) in the policy. Certain exceptions may apply for partial withdrawals during the policy’s first 15 years. If the policy is a MEC, all withdrawals or loans are taxed as ordinary income to the extent of gain in the policy, and may also be subject to an additional 10% premature distribution penalty if taken prior to age 59½, unless certain exceptions apply. Loans and partial withdrawals will decrease the death benefit and cash surrender value of your life insurance policy and may be subject to policy limitations and income tax. In addition, loans and partial withdrawals may cause the policy benefits and riders to become unavailable and may increase the chance your policy may lapse. If the policy lapses, is surrendered or becomes a MEC, the loan balance at the time would generally be viewed as a distribution and therefore taxable under the general rules for distribution of policy cash values.

BrightLife® Grow is issued in New York and Puerto Rico by Equitable Financial Life Insurance Company and in all other jurisdictions by Equitable Financial Life Insurance Company of America (Equitable America), an Arizona stock corporation with its main administration office in Jersey City, NJ and are co-distributed by Equitable Distributors, LLC and Equitable Network, LLC (Equitable Network Insurance Agency of California in CA; Equitable Network Insurance Agency of Utah in UT; Equitable Network of Puerto Rico, Inc. in PR), 1290 Avenue of the Americas, New York, NY 10104.

This is a very general description of the BrightLife® Grow product. For costs and more complete details, please contact your financial professional. 

BrightLife® Grow is a flexible premium universal life insurance policy with index-linked interest options. Life insurance is subject to exclusions and limitations and terms for keeping it in force, Certain types of policies, features and benefits may not be available in all jurisdictions or may be different. 

BrightLife® Grow is issued in New York and Puerto Rico by Equitable Financial Life Insurance Company (Equitable Financial), NY, NY and in all other jurisdictions by Equitable Financial Life Insurance Company of America (Equitable America) (AZ stock company, administrative office: Jersey City NJ). Co-distributed by affiliates Equitable Network LLC (Equitable Network Insurance Agency of California, LLC, in CA; Equitable  Network Insurance Agency of Utah, LLC in Utah; Equitable Network of Puerto Rico in PR) and Equitable Distributors, LLC. Equitable Financial, Equitable America, Equitable Network and Equitable Distributors are affiliated companies and do not provide tax or legal advice. Clients should seek the advice of their own tax and legal advisors regarding their individual circumstances. 

All guarantees and contractual obligations are based solely on the claims-paying ability of the issuing life insurance company. 

Policy form #ICC15-300 or state variations. 

BrightLife® is a registered service mark of Equitable Financial Life Insurance Company.