Last updated: April 15, 2026 by the AnnuityJournal Editorial Team.
Equitable Holdings, Inc. is one of the oldest life insurance and annuity companies in the United States, founded in 1859 as The Equitable Life Assurance Society. Headquartered in New York City, Equitable manages more than $900 billion in assets across insurance, retirement services, and asset management (Equitable is also the majority owner of AllianceBernstein). Its annuity subsidiary, Equitable Financial Life Insurance Company, is the industry leader in registered index-linked annuities (RILAs) through the flagship Structured Capital Strategies (SCS) product family.
Equitable carries an AM Best A (Excellent) rating and trades on the New York Stock Exchange under the ticker EQH. A significant corporate development now underway is the proposed all-stock merger with Corebridge Financial, announced in early 2026 and expected to close in late 2026 or 2027 pending regulatory approval. The combined entity would become one of the largest U.S. retirement services platforms by annuity assets.
Key Takeaways
- AM Best A (Excellent) rating, A+ from S&P, A1 from Moody’s
- Publicly traded as NYSE: EQH since 2018 spinoff from AXA (France)
- $900B+ in total assets; majority owner of AllianceBernstein
- Industry leader in RILAs through Structured Capital Strategies (SCS)
- Proposed $22B all-stock merger with Corebridge Financial announced 2026
- 166 years of continuous operating history
Equitable Company Overview
Equitable Life Assurance Society was founded in New York in 1859 and grew into one of the largest U.S. mutual life insurers during the 20th century. French insurance group AXA acquired Equitable in 1991, and the company operated as AXA Equitable for nearly three decades. In 2018, AXA spun Equitable off via an initial public offering on the NYSE under the ticker EQH. AXA has since fully divested its stake, and Equitable now operates as an independent U.S. public company.
Equitable’s primary annuity issuer is Equitable Financial Life Insurance Company. Equitable Financial Life Insurance Company of America handles contracts for non-New York residents in most states. Both subsidiaries are well-capitalized U.S. insurers. Equitable also owns Equitable Advisors, a broker-dealer, and holds a majority stake in AllianceBernstein (NYSE: AB), the $750 billion asset management firm.
Corebridge and Equitable Merger (2026)
In early 2026, Equitable Holdings and Corebridge Financial announced a proposed all-stock merger valued at approximately $22 billion. Under the terms, Corebridge shareholders would receive a fixed exchange ratio of Equitable shares, and the combined company would operate under a new corporate name with headquarters likely remaining in New York.
The combined entity would manage more than $1.2 trillion in assets and become one of the top three U.S. retirement services companies by annuity sales volume. It would combine Equitable’s RILA leadership with Corebridge’s large fixed annuity, MYGA, and institutional retirement businesses (Corebridge was spun off from AIG in 2022).
The merger is expected to close in late 2026 or 2027 pending approval from state insurance regulators, the Federal Reserve, antitrust authorities, and both companies’ shareholders. Existing Equitable and Corebridge annuity contracts will continue to be honored by their respective issuing insurers regardless of merger outcome. For coverage of the transaction, see our Corebridge-Equitable merger newsroom article.
Equitable Annuity Products
Registered Index-Linked Annuities (RILAs)
Equitable Structured Capital Strategies (SCS) is the flagship RILA series and a pioneer in the index-linked annuity category. SCS was one of the first RILAs introduced when the product category launched in the 2010s, and the SCS series remains one of the top-selling RILA platforms in the United States.
SCS offers segment-based crediting tied to indices like the S&P 500, Russell 2000, MSCI EAFE, Nasdaq-100, and proprietary indices. Buyers choose from multiple buffer levels (10%, 15%, 20%, 25%, or 30%) to control downside exposure over segment terms of 1, 3, 5, or 6 years. The SCS Income version adds a guaranteed lifetime withdrawal benefit rider.
Variable Annuities
Equitable Retirement Cornerstone is a variable annuity with optional guaranteed lifetime withdrawal benefit riders, including versions that pair with investment-only or protected-income sleeves. Equitable Investment Edge is an investment-focused variable annuity with a streamlined fee structure for buyers who do not want living benefit riders.
Income Annuities (SPIAs and DIAs)
Equitable Income Annuity is a single premium immediate annuity with life-only, joint life, and period certain payout options. Equitable also issues deferred income annuities for buyers planning longevity income to begin at a future date.
Financial Strength & Ratings
| Rating Agency | Rating | Meaning |
|---|---|---|
| AM Best | A (Excellent) | Third-highest of 16 rating levels |
| S&P Global | A+ (Strong) | Strong capacity to meet financial commitments |
| Moody’s | A1 (Good) | Low credit risk, upper-medium grade |
| Fitch | A+ (Strong) | High credit quality |
Every Equitable annuity is backed by the issuing insurer’s claims-paying ability and the policyholder’s state guaranty association, typically up to $250,000 per insurer per person. State guaranty coverage applies to contracts already in force regardless of any future corporate mergers.
Equitable Pros and Cons
| Pros | Cons |
|---|---|
| Industry leader in RILAs through SCS product family | A rating is one notch below A+ |
| 166 years of continuous operating history | No standalone MYGA lineup |
| Multiple SCS buffer choices (10% to 30%) | Some SCS segments carry 6-year lock-up periods |
| Publicly traded with transparent financial reporting | RILA and VA fee/segment structures require careful review |
| Planned scale increase via Corebridge merger | Merger adds corporate uncertainty until closing |
Who Is Equitable Best For?
- RILA buyers: SCS is the longest-running and most widely distributed RILA product family in the U.S.
- Buyers seeking partial downside protection with market upside: Equitable’s buffer range from 10% to 30% is among the widest in the industry.
- Variable annuity income buyers: Retirement Cornerstone offers flexible rider combinations for lifetime income planning.
- Investment-focused buyers: Investment Edge provides low-cost tax-deferred subaccount access without income riders.
Who Should Not Buy an Equitable Annuity
- Rate-focused MYGA buyers. Equitable does not offer a standalone MYGA lineup. Consider Athene or Global Atlantic.
- Buyers who want 100% principal protection. RILAs involve partial principal protection via buffers, not full protection. For 100% principal protection, consider a fixed indexed annuity.
- Buyers who require A+ or A++ carriers. Equitable is solidly A, but not in the top AM Best tier.
How to Buy an Equitable Annuity
- Find a licensed registered representative or independent agent appointed with Equitable.
- Request a full illustration for the specific SCS segment term, buffer, and index selection.
- Compare buffers, caps, and participation rates against at least two other RILA carriers (Prudential FlexGuard, Jackson Market Link Pro).
- Complete the application. Fund by wire, check, 1035 exchange, or IRA rollover.
- Review during the free-look period, which is 10 to 30 days depending on state.
Frequently Asked Questions
Is Equitable a good annuity company?
Yes. Equitable holds an A (Excellent) rating from AM Best, A+ from S&P and Fitch, and A1 from Moody’s. With $900 billion in assets and 166 years of operating history, the company is financially sound. Its Structured Capital Strategies (SCS) RILA series is the longest-running and most widely sold RILA product family in the U.S.
Who owns Equitable?
Equitable Holdings, Inc. is a publicly traded U.S. company listed on the NYSE under the ticker EQH. It was spun off from French insurer AXA in 2018, and AXA has since fully divested. The proposed all-stock merger with Corebridge Financial, if approved, would combine the two under a single public entity.
What is the Corebridge and Equitable merger?
In early 2026, Equitable Holdings and Corebridge Financial (formerly AIG’s retirement services arm) announced a proposed $22 billion all-stock merger. The combined company would manage more than $1.2 trillion in assets and become one of the top three U.S. retirement services platforms. The deal is expected to close in late 2026 or 2027 pending regulatory approvals. Existing annuity contracts at both companies will continue to be honored regardless of the merger timeline. See our newsroom coverage for details.
What is Equitable’s AM Best rating?
Equitable Financial Life Insurance Company holds an A (Excellent) rating from AM Best, the third-highest of sixteen rating levels. It also carries A+ from S&P, A+ from Fitch, and A1 from Moody’s.
What types of annuities does Equitable offer?
Equitable offers registered index-linked annuities (Structured Capital Strategies/SCS series), variable annuities (Retirement Cornerstone, Investment Edge), single premium immediate annuities, and deferred income annuities. Their RILA lineup is the flagship category, with SCS being a market leader.
How does Structured Capital Strategies (SCS) work?
SCS is a registered index-linked annuity that credits interest based on the performance of a chosen index (S&P 500, Russell 2000, Nasdaq-100, MSCI EAFE) over a specified segment term of 1, 3, 5, or 6 years. Buyers choose a buffer (10%, 15%, 20%, 25%, or 30%) that absorbs the first portion of any index loss. Upside is subject to a cap. Principal is not 100% protected; the buffer limits but does not eliminate downside.
Can I buy an Equitable annuity directly?
No. Equitable annuities are sold only through licensed insurance agents, registered representatives, and broker-dealers, including Equitable Advisors. You cannot purchase directly from Equitable.
Are Equitable annuities safe?
Equitable annuities carry the same guarantees as any annuity from an A-rated U.S. insurer. RILA and VA subaccount values fluctuate with market performance, but contractual guarantees (buffer protection, lifetime income, death benefit) are backed by Equitable’s claims-paying ability, its reserves, and the policyholder’s state guaranty association.
