Enhanced flexibility and features make Equimax whole life a great choice for your clients
WHAT’S NEW ON MARCH 23, 2020?
The following features are available on Equimax Estate Builder® and Equimax Wealth Accumulator® plans!
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60 months of EDO payment flexibility1 that fits your clients’ situation
- Clients can start EDO payments1 up to 60 months from the date the application was signed, or resume up to 60 months from the last EDO payment made, without additional evidence of insurability.
- Applies to Equimax2 policies with an effective date of March 23, 2020 or later.
EDO is available on cases rated 300% or less3 for new and existing clients
- For existing clients, if approved, the EDO contract provisions that apply will be based on the effective date of the insurance policy, not the date the EDO was added.
- Applies to Equimax2 policies issued under the 2017 tax rules.
Built-in Disability Benefit Disbursement provides access to cash value in the event of a disability
- The Disability Benefit Disbursement may provide a tax-free, lump sum payment of up to 100% of the policy’s cash value if the insured becomes disabled.4
- Will be included on Equimax2 policies issued under the 2017 tax rules.5
Want more information?
More information is available on EquiNet® on the Whole Life Insurance Product page under the Resources tab.
Ask your Equitable Life® Regional Sales Manager about Equimax today.
COVID-19 & social distancing: Strategy for insurance applications
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1 This applies only to policies with an effective date of March 23, 2020 or later. The amount of the EDO payment allowed may be limited to the maximum EDO payment made in previous years depending on the policy year. For approved EDO amounts exceeding $150,000 annually ($12,500 monthly), clients have up to 12 months from the date the EDO application was signed or the date of the last EDO payment to make an EDO payment before a contribution cap may apply. See Admin Guide for full details. 2 Applies to Equimax Estate Builder and Wealth Accumulator; all ages; life pay and 20 pay; single and joint lives. 3 Not available if the policy has a flat extra rating. 4 See sample policy contract for full details, including the qualifications for the disbursement. Policy cash value and death benefit will decrease. Tax laws are subject to change. The payment of the disability benefit disbursement may affect the adjusted cost basis (ACB) of the policy as it is considered payment of a capital benefit. Changes in ACB can affect the future taxation of the policy. 5Subject to our administrative rules and guidelines in effect at the time of the disbursement