NU Online News Service, Oct. 28, 2003, 12:23 p.m. EST – The Equitable Life Assurance Society of the U.S., New York, has updated its variable annuity products.
Accumulator Series ’04 products include new versions of the Accumulator, Accumulator Plus, Accumulator Elite and Accumulator Select policies, Equitable says.
Some of the additions in the new series are five new asset-allocation portfolios; a feature that provides a death benefit after the first spouse in a couple dies; and a choice of two guaranteed principal benefits.
Equitable has set the rate for guaranteed minimum death benefits and guaranteed minimum income benefits at 5%. The previous rate was not immediately available.
Equitable, a unit of AXA S.A., Paris, is responsible for backing the Accumulator product guarantees.