Understanding Equitable Life Insurance Co: What You Need to Know About This Historic Carrier

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Having worked in this industry for over two decades, I’ve seen countless insurance carriers come and go, merge and rebrand. Few companies have as complex a history as Equitable Life Insurance Company. When clients ask me about “Equitable,” I often need to clarify which version we’re discussing, because this company has operated under several different names and ownership structures over the years.

In my experience helping thousands of families secure life insurance coverage, I’ve learned that understanding a carrier’s background, financial strength, and underwriting approach is just as important as comparing premium quotes. Today, I want to share what I’ve learned about Equitable and help you understand how they fit into your term life insurance options.

The Evolution of Equitable Life Insurance Company

The company most people know as “Equitable” today has gone through significant changes. Originally founded as The Equitable Life Assurance Society of the United States in 1859, this carrier became one of America’s largest life insurers. However, the corporate history gets complicated from there.

In 1991, the company demutualized and became AXA Equitable Life Insurance Company after being acquired by the French insurance giant AXA Group. For many years, they operated under the AXA Equitable brand, which some of my clients still remember. Then, in 2018, the company went public and simplified their name back to just “Equitable Holdings, Inc.”

Key points about Equitable’s current structure:

• Publicly traded company since 2018 (NYSE: EQH)
• Primary life insurance subsidiary is Equitable Financial Life Insurance Company
• Strong financial ratings from major rating agencies
• Diverse product portfolio including term life, whole life, and annuities
• Established distribution network through independent agents and financial advisors

This corporate evolution matters because it demonstrates the company’s ability to adapt and remain competitive in a changing marketplace. When I evaluate carriers for my clients, I look for this kind of stability and forward-thinking approach.

Equitable’s Term Life Insurance Products

As an independent agent, I work with dozens of carriers, and I can tell you that Equitable offers competitive term life options that work well for certain client situations. Their current term life portfolio includes several products designed to meet different needs and budgets.

Equitable’s main term life products include:

• TermEssential - Their simplified issue term product for faster approvals
• BrightLife Grow-Up Term - Convertible term with unique features for young families
• Traditional fully underwritten term - Comprehensive underwriting for best rates
• Return of premium options - Get premiums back if you outlive the term period
• Various term lengths - 10, 15, 20, and 30-year level premium periods

What I appreciate about Equitable is their flexibility in underwriting. I’ve had clients who were declined elsewhere find coverage through Equitable’s more nuanced approach to certain health conditions. They seem particularly reasonable with well-controlled blood pressure, cholesterol issues, and some mental health situations.

However, I’ll be honest with you - Equitable isn’t always my first choice for every client. Their rates can be competitive, but they’re not always the lowest in the market. Where they really shine is in their underwriting philosophy and their willingness to work with cases that other carriers might automatically decline.

Understanding Equitable’s Underwriting Approach

Having worked with thousands of applicants over the years, I’ve learned that each carrier has its own personality when it comes to underwriting. Equitable tends to take a more holistic view of applicants, which can work in your favor if you have health issues that look concerning on paper but are well-managed in reality.

Equitable’s underwriting strengths include:

• Reasonable approach to blood pressure - One medication with good control often still qualifies for preferred rates
• Flexible on mental health - Stable depression or anxiety treatment doesn’t automatically mean higher rates
• Sensible diabetes underwriting - Well-controlled Type 2 diabetes with good A1C levels can qualify for standard rates
• Build chart flexibility - Slightly higher BMI doesn’t automatically disqualify preferred rates
• Accelerated underwriting options - Qualified applicants can skip the medical exam

The key with any carrier, including Equitable, is honest disclosure during the application process. I’ve seen too many people try to hide conditions or minimize health issues, only to get declined later. When I work with clients, I encourage complete honesty because it helps me match them with the right carrier from the start.

How Equitable Compares to Other Carriers

In my role as an independent agent, I don’t have loyalty to any single carrier - my loyalty is to my clients and finding them the best coverage for their specific situation. This means I regularly compare Equitable against other top-rated carriers like Banner Life, Principal, Mutual of Omaha, and others.

Where Equitable typically excels:

• Competitive rates for standard health class applicants
• Strong conversion options if you need permanent coverage later
• Solid living benefits riders for accessing death benefit early if terminally ill
• Flexible premium payment options including annual, quarterly, or monthly
• Good customer service and claims-paying reputation

Where other carriers might be better:

• Preferred Plus rates - Some carriers offer better pricing for super-healthy applicants
• Simplified issue speed - Some carriers approve applications faster
• Specific health conditions - Certain carriers specialize in particular medical situations
• Price competition - Rates can vary significantly based on your age, health, and coverage amount

This is why I always run quotes with multiple carriers. What looks expensive with one company might be very affordable with another, and vice versa. The “best” carrier is the one that offers you the coverage you need at a price you can afford, with underwriting that matches your health profile.

Making the Right Choice for Your Family

After helping hundreds of families find the right life insurance coverage, I’ve learned that the carrier name on the policy matters less than getting the right amount of coverage in place while you’re healthy and insurable. Whether that’s through Equitable or another highly-rated carrier depends on your specific circumstances.

Key factors that matter more than the carrier name:

• Coverage amount - Do you have enough to replace your income and pay off debts?
• Term length - Does it cover your family’s dependency period?
• Premium affordability - Can you comfortably afford the payments long-term?
• Conversion options - Can you convert to permanent coverage later without medical exam?
• Company financial strength - Will they be around to pay claims in 20-30 years?

Equitable checks all these boxes for most applicants. They’re financially strong, offer competitive products, and have been paying claims for over 160 years. But so do many other carriers I work with regularly.

The real question isn’t whether Equitable is a “good” company - they are. The question is whether they’re the right fit for your specific situation, health profile, and budget. That’s something we can only determine by looking at your complete picture and comparing options.

Remember, the best life insurance policy is the one you actually get approved for and can afford to keep in force. I’ve helped hundreds of people who were told “no” by other agents or carriers find the coverage they needed. Sometimes that was with Equitable, sometimes with other carriers. The key is working with someone who understands the differences between carriers and can guide you to the right fit.

Related Reading

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• Decreasing Term Life Insurance: The Complete Guide

Ready to explore your options? Contact me today and let’s find the coverage that makes sense for your family’s unique situation.