Life Insurance with Cash Value growth potential through indexed account segments
If your goal is to protect your family and build assets in a way that will give you growth potential and downside protection, BrightLife® Grow may be a good choice for you. It can help you live more for today, keep more of the money you earn and build more for tomorrow.
Growth potential and downside protection
BrightLife® Grow is flexible premium universal life insurance that offers interest crediting linked to major market indexes, so you can participate in the limited upside potential of the equities markets with built-in guaranteed downside protection against declines in the value of the applicable index.
Align your allocation strategy with your needs
With BrightLife® Grow, you can choose how your premium payments are allocated, which can ultimately impact your policy’s cash value. The index-linked options are designed for people who want protection from market loss and some potential for growth.
- Choose from four indexed options and/or the Guaranteed Interest Account.
- Split your premiums however you want.
- Change your allocation at any time, without fees or taxes.
Select the indexed options that you prefer
Indexed Options give you the potential for cash value growth based on the performance of an index. You can realize 100% of any positive returns, up to a performance cap; and you’re protected against any negative returns with a 0% floor.
Based on your needs, risk tolerance and market outlook, choose:
- Which index you’d like to track
- The time period you’d like
Choose from four indexed options
U.S. Large-Cap Index
- S&P 500 Price Return index
U.S. Small-Cap Index
- Russell 2000 Price Return index
- MSCI EAFE Price Return index
U.S. Large-Cap Index
- S&P 500 Price Return index
Guaranteed Interest Account (GIA)
The interest rate Equitable/Equitable America credits to the Policy Account Value is declared periodically. The guaranteed minimum interest rate is 2% annually.
Access to your money2
- Available after the 1st policy year and before the policy owner’s 121st birthday.
- You can withdraw any amount of at least $500, provided the withdrawal does not reduce the Face Amount to an amount below $50,000.
- If Death Benefit Option A is chosen, the Face Amount will be reduced by a partial withdrawal.
- Fixed loans are available any time after issue.
- Alternate loans that automatically align loan collateral with your policy account allocation are available after the 3rd policy year.3
- You may borrow up to the net cash surrender value.
- Loans and withdrawals will reduce the cash value and the life insurance benefit and could increase the chance that the policy will lapse.
- You can also increase the payments within certain limits to build cash value more quickly.
- You have the flexibility to reduce payments by using cash value to pay the monthly deductions.
- Skipping or reducing payments may increase the chance of the policy lapsing, and could mean you’ll need to increase the premiums in the future.
Death benefit options
BrightLife® Grow has two death benefit options:
- Option A: Level Death Benefit - Is equal to the Face Amount of the policy.
- Option B: Level Death Benefit - Is equal to the Face Amount plus the Policy Account Value. Under either option, a higher death benefit may apply if the value in the policy account reaches certain levels relative to the Face Amount. Changes to the death benefit option are available at no charge after the second policy year.4
Choice of riders5
Depending on your current or anticipated future needs, you can tailor your BrightLife® Grow policy by taking advantage of a selection of policy riders that are available for an additional cost.
S&P®, Standard & Poor’s®, S&P 500® and Standard & Poor’s 500tm are trademarks of Standard & Poor’s and have been licensed for use by Equitable. BrightLife® Grow is not sponsored, endorsed, sold or promoted by Standard & Poor’s and Standard & Poor’s does not make any representation regarding the advisability of investing in the product.
The Russell 2000® index is a trademark of Russell Investments and has been licensed for use by Equitable. BrightLife® Grow is not sponsored, endorsed, sold or promoted by Russell Investments and Russell Investments makes no representation regarding the advisability of investing in the product.
The product referred to herein is not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such product or any index on which such product is based. The policy contains a more detailed description of the limited relationship MSCI has with Equitable and any related products.
1 Equitable may place limitations on your ability to allocate premiums to the indexed options upon notice.
2 Under current federal tax rules, you generally may take income-tax-free partial withdrawals under a life insurance policy that is not a Modified Endowment Contract (MEC), up to your basis in the contract. Additional amounts are includible in income. In certain cases, during the first 15 years of a policy a partial withdrawal may be taxable to the extent there is gain in the policy. The IRS places a limit on how much money can go into life insurance premiums for the policy and how quickly such premiums can be paid in order for the policy to retain all of its tax benefits. If certain limits are exceeded, a MEC results. MEC policyholders may be subject to taxes on distributions on an income-first basis, that is, to the extent there is gain in their policies, and penalties on any taxable amount if they are not 59½ or older. Loans taken will be free of current income tax as long as the policy remains in effect until the Insured’s death, does not lapse, and is not a MEC. Please note that outstanding loans accrue interest. Income-tax-free treatment also assumes the loan will eventually be satisfied from income- tax-free death benefit proceeds. Loans and withdrawals reduce the policy’s cash value and death benefit, may cause certain policy benefits or riders to become unavailable, and may increase the chance the policy may lapse. If the policy lapses, is surrendered or becomes a MEC, the loan balance at such time would generally be viewed as distributed and taxable under the general rules for distribution of policy cash values. In addition, withdrawals, policy loans and any accrued loan interest may cause your policy to lapse even if you are in a period of coverage under the No Lapse Guarantee Rider. Speak to your financial professional before taking any withdrawals or policy loans.
3 The alternate loan option is currently not available and pending state approval in New York.
4 Only Death Benefit Option A is available when the Loan Extension Endorsement is in effect. Death Benefit Option changes from A to B are allowed after the 2nd policy year and changes from B to A are allowed after the 5th policy year. Changes in the Death Benefit Option may result in changes to the policy’s Face Amount and may require evidence of insurability.
5 All of the riders are subject to the terms and conditions of the rider. Not all riders may be available in all jurisdictions. Some states may vary the terms and conditions. There may be an additional charge associated with obtaining certain riders. Some riders may not be available in combination with other riders and/or policy features.
All guarantees are based on the claims-paying ability of Equitable Financial Life Insurance Company (Equitable Financial) or Equitable Financial Life Insurance Company of America (Equitable America).
Please be advised that this content is based on our general understanding of federal income tax rules for U.S. individuals and is not intended as legal or tax advice. Accordingly, any tax information provided in this content is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer. The tax information was written to support the promotion or marketing of the transaction(s) or matter(s) addressed and you should seek advice based on your particular circumstances from an independent tax advisor.
BrightLife® Grow is a flexible premium universal life insurance policy with index-linked interest options. These policies are subject to exclusions, 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. For costs and complete details of coverage, contact your financial professional.
This content is not a complete description of the BrightLife® Grow contract.
BrightLife® is registered to Equitable Financial Life Insurance Company, New York, NY 10104.
BrightLife® Grow is issued in New York and Puerto Rico by Equitable Financial Life Insurance Company (Equitable Financial), New York, NY 10104, and in all other jurisdictions by affiliate Equitable Financial Life Insurance Company of America, an Arizona Stock Corporation, with main administrative office at Jersey City, NJ. When sold by New York state based (i.e. domiciled) Financial Professionals, BrightLife® Grow is issued by Equitable Financial Life Insurance Company (New York, NY). It is co-distributed through affiliates, Equitable Network, LLC and Equitable Distributors, LLC. Equitable Financial, Equitable America, Equitable Network, LLC and Equitable Distributors, LLC and affiliated companies and do not provide legal or tax advice. Clients should rely on their own advisors on these matters. Equitable America is not licensed to conduct business in New York and Puerto Rico.
Policy form #12-100 or state variations
1290 Avenue of the Americas, New York, NY 10104, (212) 554-1234