Equitable- Novation Overview

Equitable- Novation Overview

Equitable – Novating Inforce Contracts

 We have been recently made aware that Equitable Financial will be novating certain inforce contracts to enhance the attractiveness of their offerings and that select contracts and policies will transfer to one of three different receiving companies:

·  Equitable Financial Life Insurance Company of America (Equitable America or EFLOA), a wholly owned subsidiary of Equitable Holdings, Inc.

·  Equitable Financial Life and Annuity Company (Equitable Colorado of EFLA), a wholly owned subsidiary of Equitable Holdings, Inc. 

·  Venerable Insurance and Annuity Company (Venerable), a trusted reinsurer for the Equitable carriers and other insurance carriers. Equitable Holdings, Inc. has a 9.1% equity stake in the parent company of Venerable and a seat on its Board of Directors.

 Affected owners of contracts/policies will be mailed a package providing them with details of the transfer process and the impact on their current contract’ policy. These mailings are scheduled to begin in July 2024 and policy owners will have three different consent requirements.

Please visit Equitable’s website at www.equitable.com/novation for more information, including the time frame of this process.

Additionally, Equitable has established dedicated client customer service numbers as detailed below:


For transfers to Equitable America or Equitable Colorado: 1-855-433-4015

For transfer to VIAC: 1-855-433-4025

 
*Please note, Equitable had a vendor printing error with some contracts and will be resending corrected letters to clients starting 8/8/24. The consent period will reset for those clients.

 




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