Equitable's popular Secure Savings and Secure Savings Elite MYGA products will be experiencing rate decreases for the month of November 2019. The good news is there are no changes to the Teton and Teton Bonus rates!
Equitable says they will be closely monitoring option pricing and investment yields and will keep us updated if they plan to make any adjustments.
Annuity Rates Effective November 4, 2019
Secure Savings & Secure Savings Elite – The Secure Savings 2-Year and Secure Savings Elite Florida 2-years rates are decreasing by 15 bps. All other product will be decreasing by 10 bps.
Teton & Teton Bonus – There are no changes!!
Rate Lock Procedures
Cash with Application (CWA) - Applications signed prior to November 4, 2019 and received at the home office within 14 calendar days from the signed application date will receive the annuity rates in effect on the date the application was signed. Applications received at the home office beyond 14 calendar days from the signed application date will receive the annuity rates in effect on the date the contract is issued.
1035 Exchange/Transfer - Applications must be signed prior to November 4, 2019 and received at the Equitable home office within 14 calendar days from the signed application date. If ALL funds are received in the home office within 60 calendar days from the date the application was signed, the annuity rates will be the interest rates in effect prior to November 4, 2019. If ALL funds are not received in the home office within 60 calendar days, the annuity rates will be those rates in effect on the date the annuity contract is issued.
Other News: New MYGA eApp on Agent Portal
The new eApp for the Secure Savings and Secure Savings Elite is live and available on the agent portal!
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