HA
● Active
Highest Anniversary Value Death Benefit
Equitable Financial Life Insurance Company of America
DTCC ID
—
COMPANY
Equitable Financial Life Insurance Company of America
TYPE
RILA
INCEPTION
Nov 22, 2021
Identity
Benefit name
Highest Anniversary Value Death Benefit
Internal benefit name
Highest Anniversary Value Death Benefit
Product policy type
RILA
Status
● Active
Sequence
2
Inception date
Nov 22, 2021
Closed date
—
DTCC Rider ID
—
Last modified
May 01, 2025
Life & Age
Based on life
Owner (or Annuitant if owner is a non-natural person)
Single life
No
Joint life
No
Min age
—
Max age
—
Rider select rule
Optional
Waiting period
—
Waiting term
—
Benefit Base
Maximum benefit base
—
Maximum benefit base %
—
With reduce benefit base
—
Subsequent premium
Subsequent purchase payment will increase benefit base by dollar-for-dollar amount.
Partial withdrawals
Advisory fee payments will reduce the Highest Anniversary Value benefit base on a dollar-for-dollar basis up to the GAIA and on a proportional basis for any excess withdrawals. Withdrawals will reduce HAV DB proportionately if the GLWB is dropped.
Required min distributions
Beginning with the first contract year, if the owner enrolls in the Automatic RMD Withdrawal Service, the benefit base is reduced on a dollar for dollar basis by withdrawals up to the greater of the 1) RMD; or 2) GAIA remaining and on a pro rata basis for Excess withdrawals.
Coverage Flags
Exclude premium bonus
No
Spousal continuation option
Yes
Spousal continuation detail
Surviving spouse may elect to continue benefit after death of owner.
State Availability
Exception flag
No
Available in states
—
Benefit Description
Available during accumulation phase. Upon death of owner, benefit will be greater of - 1) account value; or 2) Highest Anniversary Value Death Benefit. If no withdrawals are taken, the Highest Anniversary Value benefit base is equal to the greater of (i) initial contribution and any subsequent contributions or (ii) the highest account value on contract anniversary up to the contract anniversary on or immediately following the owner’s (or younger joint life’s, if applicable) 85th birthday. If withdrawals are taken, the Highest Anniversary Value benefit base will be reduced on a dollar-for-dollar basis by withdrawals up to the Guaranteed Annual Income Amount (GAIA), and on a pro rata basis by the amount of any Excess Withdrawals.
Lifecycle Events
Cancellation
May not be cancelled.
Termination
May not be terminated.
Available when added
Available at time of contract issue.
Effect change ownership
Change in ownership will result in termination of rider except under certain conditions.