0001193125-23-267860.txt : 20231101 0001193125-23-267860.hdr.sgml : 20231101 20231101094439 ACCESSION NUMBER: 0001193125-23-267860 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20231101 DATE AS OF CHANGE: 20231101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EQUITABLE FINANCIAL LIFE INSURANCE CO OF AMERICA CENTRAL INDEX KEY: 0000835357 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 000000000 STATE OF INCORPORATION: AZ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-265029 FILM NUMBER: 231366880 BUSINESS ADDRESS: STREET 1: 8501 IBM DRIVE STREET 2: SUITE 150 CITY: CHARLOTTE STATE: NC ZIP: 28262-4333 BUSINESS PHONE: 2125541234 MAIL ADDRESS: STREET 1: 8501 IBM DRIVE STREET 2: SUITE 150 CITY: CHARLOTTE STATE: NC ZIP: 28262-4333 FORMER COMPANY: FORMER CONFORMED NAME: MONY LIFE INSURANCE CO OF AMERICA DATE OF NAME CHANGE: 20041208 FORMER COMPANY: FORMER CONFORMED NAME: MONY LIFE INSURANCE COMPANY OF AMERICA DATE OF NAME CHANGE: 19981002 424B3 1 d550817d424b3.htm SCS INCOME (EFLOA) SCS Income (EFLOA)

Filed Pursuant to Rule 424(b)(3)
Registration No. 333-265029

Equitable Financial Life Insurance Company of America

Equitable Financial Life Insurance Company

 

Rate Sheet Supplement dated November 1, 2023 to the current prospectus for Structured Capital Strategies® Income

 

 

 

This Rate Sheet Supplement (“Supplement”) updates certain information in the prospectus dated May 1, 2023 and in any supplements to the prospectus (collectively, the “Prospectus”). You should read this Supplement in conjunction with the Prospectus and retain it for future reference. Unless otherwise indicated, all other information included in the Prospectus remains unchanged. The terms we use in this Supplement have the same meaning as in the Prospectus. We will send you another copy of any prospectus or supplement without charge upon request. Please contact the customer service group referenced in the Prospectus.

 

The Structured Capital Strategies® Income contract provides retirement income with a Guaranteed Lifetime Withdrawal Benefit (“GLWB”), which guarantees the ability to withdraw a level of income each year, regardless of market performance, as long as the withdrawal doesn’t exceed the Guaranteed Annual Income Amount (“GAIA”). Under the GLWB, we use an income rate or income rates depending on your choice of the level or accelearated income option to calculate the GAIA and a Deferral Incentive rate to calculate any Deferral Incentive. For more information, see “Guaranteed Lifetime Withdrawal Benefit” in the Prospectus. The rates and charges in this Supplement can be superseded at any time as described below. The effective date of the following rates and charges is November 13, 2023 (the “rate effective date”) until superseded:

 

 

 

Deferral Incentive Rate: 7%

 

 

 

Income Rates

 

Level Income Option

       Accelerated Income Option
      Single       Joint             Single   Joint
 Age                 Age     Pre Depletion     Post Depletion     Pre Depletion     Post Depletion 
45   4.00%   3.50%       45   5.50%   2.50%   5.00%   2.50%
46   4.10%   3.60%       46   5.60%   2.50%   5.10%   2.50%
47   4.20%   3.70%       47   5.70%   2.50%   5.20%   2.50%
48   4.30%   3.80%       48   5.80%   2.50%   5.30%   2.50%
49   4.40%   3.90%       49   5.90%   2.50%   5.40%   2.50%
50   4.50%   4.00%       50   6.00%   2.50%   5.50%   2.50%
51   4.60%   4.10%       51   6.10%   2.50%   5.60%   2.50%
52   4.70%   4.20%       52   6.20%   2.50%   5.70%   2.50%
53   4.80%   4.30%       53   6.30%   2.50%   5.80%   2.50%
54   4.90%   4.40%       54   6.40%   2.50%   5.90%   2.50%
55   5.00%   4.50%       55   6.50%   2.50%   6.00%   2.50%
56   5.10%   4.60%       56   6.60%   2.60%   6.10%   2.60%
57   5.20%   4.70%       57   6.70%   2.70%   6.20%   2.70%
58   5.30%   4.80%       58   6.80%   2.80%   6.30%   2.80%
59   5.40%   4.90%       59   6.90%   2.90%   6.40%   2.90%
60   5.50%   5.00%       60   7.00%   3.00%   6.50%   3.00%
61   5.60%   5.10%       61   7.10%   3.10%   6.60%   3.10%
62   5.70%   5.20%       62   7.20%   3.20%   6.70%   3.20%
63   5.80%   5.30%       63   7.30%   3.30%   6.80%   3.30%
64   5.90%   5.40%       64   7.40%   3.40%   6.90%   3.40%
65   6.00%   5.50%       65   7.50%   3.50%   7.00%   3.50%
66   6.10%   5.60%       66   7.60%   3.60%   7.10%   3.60%
67   6.20%   5.70%       67   7.70%   3.70%   7.20%   3.70%
68   6.30%   5.80%       68   7.80%   3.80%   7.30%   3.80%
69   6.40%   5.90%       69   7.90%   3.90%   7.40%   3.90%
70   6.50%   6.00%       70   8.00%   4.00%   7.50%   4.00%
71   6.60%   6.10%       71   8.00%   4.00%   7.50%   4.00%
72   6.70%   6.20%       72   8.00%   4.00%   7.50%   4.00%
73   6.80%   6.30%       73   8.00%   4.00%   7.50%   4.00%
74   6.90%   6.40%       74   8.00%   4.00%   7.50%   4.00%
75   7.00%   6.50%       75   8.00%   4.00%   7.50%   4.00%
76   7.00%   6.50%       76   8.00%   4.00%   7.50%   4.00%
77   7.00%   6.50%       77   8.00%   4.00%   7.50%   4.00%
78   7.00%   6.50%       78   8.00%   4.00%   7.50%   4.00%
79   7.00%   6.50%       79   8.00%   4.00%   7.50%   4.00%
80   7.00%   6.50%       80   8.00%   4.00%   7.50%   4.00%

 

IM-85-22 (11/23)   Cat #800002 (11/23)
  #550817

 

GLWB Charge (as a percentage of the GLWB benefit base)

 

       Single       Joint  

Level Income Option

   1.50%   1.50%

Accelerated Income Option

   1.50%   1.50%

 

 

The rates and charges in this Supplement can be superseded. The rate effective date of a subsequent Rate Sheet Supplement will be at least 10 days after it is filed.

If you sign your application on or after the above rate effective date and we issue you a contract based on that application:

 

  •  

If a subsequent Rate Sheet Supplement with a lower income rate or income rates (whichever is applicable), lower Deferral Incentive rate or higher GLWB charge becomes effective before your contract is issued, your income rate or income rates (whichever is applicable), Deferral Incentive rate and GLWB charge will not change.

 

  •  

If a subsequent Rate Sheet Supplement with a higher income rate or income rates (whichever is applicable), higher Deferral Incentive rate or lower GLWB charge becomes effective before your contract is issued, your income rate or income rates (whichever is applicable), Deferral Incentive rate and/or GLWB charge will change to match the higher rate(s) or lower charge.

Once your contract is issued, the GLWB charge percentage will not change and the Rate Sheet Supplement applicable to your contract will not change during the life of your contract.

For information about the income rates, Deferral Incentive rate and GLWB charge applicable to you, please contact the customer service group toll-free at 1-800-789-7771. You can also visit www.equitable.com to view the current rates and charge. Historical income rates, Deferral Incentive rates and GLWB charges may be found in Appendix “Historical Rates and Charges” to the Prospectus, as well as on the U.S. Securities and Exchange Commission’s website (www.sec.gov) by searching for File Nos. 333-265028 (EFLOA) or 333-258709 (EFLIC).