Equitable Holdings Insurance Review

Equitable Holdings, Inc. provides life insurance and retirement planning for individuals and businesses. Since 1859, Equitable has been helping people protect their future and finances. If you search for a company you can trust with your insurance and financial needs, you need to be sure they have the experience and track record to deliver results on which you can rely. 

They have over 150 years of experience and have helped their customers navigate changes in the world and their personal lives. Whether you need life insurance, disability insurance, or retirement planning for yourself or your employees, Equitable is an expert in risk management and knows what it takes to give you the protection and security you deserve.

Types of Insurance Available

Planning for your future is an evolving process, and the company respects you and the financial choices you’ve already made. When ready to have a serious discussion about your financial future, it’s essential to talk to a professional. The people at Equitable will take the time to learn about you, your goals, and your life situation. 

Equitable can educate you on your options and provide recommendations to help you chart a course to your goals. Their professional advisers and agents will give clear guidance, customized for you, that will change as your life and needs change.

Equitable has a wide range of products that can fit different financial needs. We’ve compiled a list of the other products Equitable offers and information that may help you make an informed decision. For more information or clarification of a particular policy’s benefits, it’s important to speak to an agent who can talk to you directly and let you know your options.

Equitable Holdings Life Insurance

Life insurance is more than providing for your loved ones when you are no longer here. A life insurance policy from Equitable can help you feel more confident and secure to live your life fully. Depending on the life insurance policy, you may be able to access tax-deferred growth and get access to some of your policy’s cash value tax-free. 

If you are looking for tax benefits or the ability to meet expenses for your beneficiaries, a life insurance policy from Equitable can help you reach all of these goals.

Equitable’s life insurance policies for employees are different from individual plans. They will pay a lump sum benefit to an employee’s beneficiaries on death. However, this is while they are actively working for that company. 

When they move to another employer, this policy protection doesn’t move with them. These policies also don’t have cash value and do not work as investment vehicles in the same way as IULs and VULs.

Indexed Universal Life

An Indexed Universal Life (IUL) insurance policy from Equitable can provide for your family’s future while building tax-deferred income. IULs allow you to accumulate cash value in your approach by linking them to the performance of an index. 

When you pay your IUL, part of this payment goes to your life insurance benefit. This income can grow without being subject to taxes. There is even the potential for tax-free distributions, but your Equitable representative will need to discuss this further. 

The other feature allows you to build cash value in your policy by tracking the performance of the S&P 500® index. You can access this cash value tax-free to handle unexpected expenses or maintain your quality of life when you retire.

Term Life Insurance

A term life insurance policy from Equitable is a simple, low-cost life insurance policy that protects you for a fixed term. The company’s life policy doesn’t build cash value like other policies. It provides a guaranteed death benefit paid to your beneficiaries, usually income-tax-free. These types of policies often provide the best value for your premium payment. 

If you have expenses, such as a mortgage, term life can let your family meet this expense if you are no longer here. These policies can also replace lost income, pay for final expenses or pay for your children’s college education. 

Term life can be a safety net for your family if you can no longer provide financially and can give you confidence when deciding to take on long-term financial obligations, such as a home mortgage.

Variable Universal Life

A Variable Universal Life (VUL) policy from Equitable can help you provide for your future while building tax-deferred cash value. Unlike an Indexed Universal Life policy, a VUL lets you select from a list of available investments. This policy can give you flexible earnings while still providing a death benefit that is generally tax-free. 

These policies give you flexible payments, ranging from nothing to a maximum amount. When you make a payment, your cash value will increase. Your policy’s cash value will fluctuate depending on the performance of the investment options you’ve chosen. You’ll automatically pay for your life insurance policy because a portion of your monthly payments will cover the policy’s charges. 

A VUL allows you to build equity which you can access with loans and withdrawals. This flexibility can increase your financial security by giving you access to cash when you need it for any unexpected expenses. While a VUL’s primary purpose is providing a death benefit, it is also a long-term financial investment. 

A VUL can be customized to meet your family’s needs. People have different requirements depending on their current life situation, and a VUL can offer flexibility to handle many different situations.

Equitable Holdings Employer-Provided Insurance

For business and business owners who want to provide insurance benefits to their employees, Equitable Holdings Insurance offers a range of plans covering dental, vision, life, disability, and others. Offering an excellent insurance package can help businesses retain top talent. 

High-quality insurance can lower or eliminate costs for employees who need dental care or other standard procedures. Equitable has decades of experience protecting employees and their families with various packages. Let’s take a look at some of what’s available.

Dental Insurance

The average dental care in the US costs around $1000 per year, and maintaining regular dental is the best way to preserve your teeth and maintain your health. Equitable’s dental insurance gives you access to over 117,000 dentists so you can get the quality care you deserve. This covers routine cleanings, fillings, and major dental procedures. 

Equitable’s policy will cover all or a portion of the expense if you go to the dentist for a twice-yearly exam and cleaning. Orthodontia and teeth-whitening may also be covered, depending on the plan. These policies won’t cover all dental procedures. You’ll need to check your company’s approach to see in which you qualify.

Long-Term Disability

Long-term disability insurance from Equitable pays a portion of an employee’s salary after they have been injured or ill for an extended time. This coverage typically starts after short-term disability coverage has ended, and there is a maximum payment based on salary. Long-term disability coverage picks up after short-term disability ends. 

Long-Term Disability coverage doesn’t start immediately. This coverage begins after the first 13 to 26 weeks of short-term disability coverage expires. This can protect employees who have severe conditions which prevent them from working for long periods.

Short-Term Disability

A short-term disability policy from Equitable can help you meet expenses with a portion of your regular salary if you become disabled or have a baby. These policies provide a weekly payment that you can use as needed. 

These payments begin as your case gets approved and you have been out of work for a specific number of days, known as your elimination period. The amount of coverage and maximum period varies between plans. Check to find out your specific plan details.

Equitable Holdings Vision Insurance

Equitable’s vision insurance plans pay some or all of the cost for eye exams, frames, and lenses. Using in-network providers will reduce the most significant expense, although you can use any provider you want. 

Protecting your vision is important, and Equitable’s vision coverage makes getting the eye care you need cheaper or free. These plans cover not everything: they won’t pay for special lenses or eye surgery.

Accident Insurance

Being injured in an accident will impact your ability to work and may result in unexpected costs. Equitable accident insurance coverage can pay a cash benefit if you or your dependents are injured in a covered accident. 

This coverage is separate from your medical insurance coverage. This type of insurance doesn’t pay for every kind of accident, only those covered by the plan. Check to find out what is covered and what specific benefits your plan offers.

Equitable Holdings Critical Illness

Critical illness insurance from Equitable pays you a lump sum if you or a dependent are diagnosed with one of the severe illnesses they cover. 

This payment is sent directly to you to use as needed. This doesn’t cover serious illnesses or conditions diagnosed before your effective date of coverage. Not all serious illnesses are covered. Check to determine what illnesses and conditions are included in your plan.

Retirement Planning Insurance

Whether you are just at the launch of your new career or are close to retiring, Equitable has financial advisers that can help you secure your financial future. 

They can help you decide on the savings or investment strategy that fits your life and goals. If you are new to financial planning insurance, you deserve the best information possible, and Equitable’s financial advisers have the experience to point you in the best direction. 

Equitable has a range of individual retirement products and workplace retirement plans to help navigate your financial future after retirement. Let’s look at some of the products Equitable offers.

Annuities Insurance

Equitable has a range of annuity products that can help you meet your financial needs when you retire. An annuity is a long-term investment product where you pay an insurance company. This company agrees to pay a lump sum or a set income later. 

Depending on your choice of plans, you may be able to leverage tax-deferral and tax-efficient distributions. These options help you pay the least tax possible on your hard-earned money. Some annuity products allow you tax-deferred growth through market access. 

Some plans offer partial downside protection or death benefit guarantees. Whatever your investment or retirement needs are, Equitable’s advisers can put you on a path to more incredible wealth and financial security.

401(k) Plans

A 401(k) plan from Equitable is a popular way for businesses to offer their employees a tax-deferred investment vehicle. Payments are deducted from your paycheck before income taxes. This means that taxes are deferred until you withdraw money from your account. 

This allows you to access money after retirement when you are in a lower tax bracket. A 401(k) plan from Equitable lets you choose your preferred investments and change them when you wish.

403(b) Plans

For educators and non-profit employees, Equitable offers 403(b) plans. These insurance plans are similar to a 401(k) but are tailored to educators and people working for non-profit companies’ unique needs. A 403(b) plan can supplement your pension or other retirement savings. Like a 401(k), these plans allow you to grow your money tax-deferred until you are ready to withdraw. 

This keeps a portion of your income active, earning money faster than a regular taxable account would. These flexible accounts allow you to stop contributions or increase them to the maximum federal amount whenever possible.

547(b) Plans

Equitable offers 547(b) plans, like 401(k) plans but for public service employees. These plans can help you add to your pension income after retirement. Equitable knows the unique needs of people working in state or local government. Please speak to the financial professionals at Equitable to see how they can help secure your future during retirement from public service.

Equitable Holdings Available Discounts

Equitable has limited discounts compared to some other insurance companies, but you’ll need to speak to an agent to see what might be available for you. Insurance companies that offer many different types of insurance, such as auto, homeowners, dental, and others, will often have bundling and other discounts which can lower their customer’s rates.

Equitable has a limited range of policy types and doesn’t have the same range of discounts that other companies may offer. When purchasing a policy from Equitable, they will decide a final rate for each customer. This process will result in different prices for different individuals.

Some customers may qualify for lower rates than others, and while this isn’t referred to as a discount, it will change the final price you may pay for coverage.

Website and Mobile App

Staying connected online to customers is an important part of many insurance companies’ businesses. Equitable strives to meet its customers’ needs to stay connected while on the go. They offer account information and customer communication through its website’s customer portal and a mobile app for Android and iOS. 

Equitable continuously updates its mobile app to create a high-quality experience for its customers. Their mobile app lets people review activity and balances, research and change investment options, keep information current, and make payments. The mobile app also supports fingerprint and face identification to help keep your information secure from modern digital threats.

Equitable Holdings Claims Processing

Equitable offers a wide array of insurance that can help protect you and your family from unforeseen events. Every type of insurance will have different requirements for what documents must be presented and further steps to make a claim. Claims on some insurance products, such as life insurance, will need to be made by beneficiaries or other legal representatives.

Generally, a claim is made, and the required documentation is submitted. A claims analyst will respond within 5 to 7 business days to inform you if that claim has been approved or denied. If Equitable doesn’t approve a claim, you’ll need to submit a written request for information related to the denial.

The company will provide this information within 60 days of receiving this written request. Benefits payment will depend on the type of policy. These payments are usually deducted directly from the policy owner or their beneficiaries. If the benefit is paid monthly, Equitable will include a monthly statement showing how much has been spent when the benefit ends. 

How Does Equitable’s Pricing Compare to the Competition?

Equitable has very competitive rates compared to other companies in the industry. It isn’t easy to make a statement about pricing as Equitable has many different products, some of which may differ from similar offerings from competitors. While some other companies may offer slightly lower rates, it is important to understand how Equitable’s insurance protection may vary.

Your research may indicate that a possible higher price is a better value than a lower-priced competitor. To give you an idea about how Equitable’s pricing measures up, here is a sample policy compared across a range of competitors, which shows the yearly premium:

Company$500,000 term life$1,000,000 term life
Pacific$290$498
American General$295$511
Equitable$320$515
Mutual of Omaha$368$633

As you can see, Equitable may not have the lowest rates, but they are lower than some of their competition.

How To Get a Quote With Equitable Holdings

Equitable doesn’t offer online quotes, so you’ll need to speak with an agent to determine how much your policy will cost. People expect insurance companies to provide online quotes, but this isn’t always the best solution. Life insurance can be complicated, with different products with different types of benefits.

Some policies may have restrictions or payment options that you should carefully consider. Speaking to an agent can help you understand the full range of Equitable’s products and how one might benefit you more than another.

Life insurance protection is a long-term financial planning strategy, and it’s important to have all the facts before deciding. To see how Equitable can help you plan for your and your family’s future, contact them today to discover your options and discounts and get a quote.

Equitable Pros and Cons

Equitable offers excellent prices and coverage. However, they may not be the best company for everyone. It’s essential to research any insurance before purchasing a policy. Here are some pros and cons of Equitable, which may help to inform your decision.

Pros

  • Healthy applicants can get coverage without having a medical exam.
  • Ability to pay premiums with Apple Pay.
  • Equitable has lower customer complaints than some similar competitors.
  • You can pay premiums with your credit card. Not many life insurance companies offer this.

Cons

  • Limited range of insurance products.
  • No online quotes. You’ll need to speak to a local agent to get a quote.

Equitable Holdings Conclusion

Equitable Holdings Insurance offers popular insurance products for individuals and employees. From term life policies to retirement income annuities, trust Equitable’s advisers to help you provide for loved ones and secure your family’s financial future. Their long track record and experience can help you feel confident you’re getting the best insurance and investment services possible.

Equitable’s low complaints show that they are good at keeping their customers satisfied and have positioned their company for a successful future! While they aren’t the cheapest insurance provider, they have lower rates than some of the competition.

Equitable works to meet consumer demand with a range of online and mobile applications which can help people monitor their coverage and communicate with the company. While the company lacks some protections, they have a range of common policy types that can meet your financial planning needs.

They also support various payment options, including credit cards and Apple Pay. Surprisingly, few life insurance companies offer these payment types, and it’s a good sign that Equitable is working to be competitive in this space. For more information or to speak to a representative, check Equitable’s website 

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