Equitable has added some protection against market volatility to its Structured Capital Strategies Plus 21 and Structured Capital Strategies registered index-linked annuities.
One of the new features, Loss Limiter, can keep a client from losing more than 5% or 10% of investment value due to a market downturn.
Another feature, Dual Step Up, guarantees a positive rate of return as long as the performance of a designated index exceeds a selected minimum. The feature can help a client earn a positive rate of return if the index falls either 10% or 15% during the 1-year period.
Equitable says it added the features in response to clients' concerns about persistent economic uncertainty and decreased investment returns.
The New York-based life insurer has been selling RILA contracts since 2010 and helped create the RILA market.
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