Separate Account No 70 of Equitable Financial Life Insurance Co

04/26/2024 | Press release | Distributed by Public on 04/26/2024 07:16

Notice Document by Insurance Company - Form N-VP

Separate Account No 70

Investment Edge®

Equitable Financial Life Insurance Company

Issued through: Separate Account No. 70

Contract Classes: Investment Edge®, Investment Edge®Select and Investment Edge®ADV

Modern Alternative Disclosure Annual Notice

May 1, 2024

This Modern Alternative Disclosure Annual Notice ("Annual Notice") provides certain updated information about your contract. In addition, this Annual Notice provides important information about your contract that you should review, including a list of Portfolio Companies available under your contract. Please read this Annual Notice carefully and retain it with your contract prospectus for future reference. Equitable Financial Life Insurance Company is providing this Annual Notice in reliance on the Securities and Exchange Commission's position on modernized alternative disclosures for variable insurance products.

The most recent contract prospectus, dated May 1, 2016, contains more information about the contract, including its features, benefits, and risks. You can find the prospectuses for the Portfolio Companies listed in the appendix to this Annual Notice, the most recent audited financial statements of the separate account, and other information about the contract online at www.equitable.com/ICSR#EQH151163. You can also obtain this information at no cost by calling 1-877-522-5035.

Additional general information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission's staff and is available at Investor.gov.

Cat #151163MAD (05/24)

Updated Information About the Contract

The information in this Annual Notice is a summary of certain contract features that have changed since the previous notice. This may not reflect all of the changes that have occurred since you entered into your contract.

INVESTMENT OPTIONS

There have been changes to the Appendix listing the Portfolio Companies available under the contract in this Annual Notice.

Portfolio Substitution: Shares of the EQ/Intermediate Government Bond Portfolio were substituted for shares of the American Century VP Inflation Protection Fund.

Portfolio Reorganization: Certain portfolios of the EQ Premier VIP Trust (the "Acquired Trust Portfolios") were reorganized into substantially identical, newly created portfolios of the EQ Advisors Trust (the "Acquiring Trust Portfolios"). The investment objectives, policies, principal strategies, principal risks, and the fees and expenses of the Acquired Trust Portfolios and corresponding Acquiring Trust Portfolios are substantially identical, and their Investment Manager did not change. The Acquired Trust Portfolios under your contract were removed as investment options, and the corresponding Acquiring Trust Portfolios were added as available investment options (subject to any applicable allocation restrictions) without impacting your account value, investment allocations, or expenses.

Investment Option Name Changes: EQ/JPMorgan Growth Stock Portfolio (formerly EQ/T. Rowe Price Growth Stock Portfolio); Macquarie VIP Asset Strategy Series (formerly Delaware Ivy VIP Asset Strategy); Macquarie VIP Emerging Markets Series (formerly Delaware VIP® Emerging Markets Series).

Investment Option No Longer Available: Neuberger Berman U.S. Equity Index PutWrite Strategy Portfolio.

2

Important Information You Should Consider About the Contract

FEES AND EXPENSES
Charges for Early Withdrawals

Each series of the contract provides for different withdrawal charge periods and percentages. Investment Edge® - If you surrender your contract, apply cash value to a non-life contingent annuity payout option, or withdraw money from an Investment Edge® contract within 6 years following your last contribution, you will be assessed a withdrawal charge of up to 6% of contributions withdrawn. For example, if you make a withdrawal in the first year, you could pay a withdrawal charge of up to $6,000 on a $100,000 investment.

Investment Edge® Select - No withdrawal charge.

Investment Edge® ADV - No withdrawal charge.

For additional information about charges for surrenders and early withdrawals see "Withdrawal Charge" in "Charges and Expenses" in the Prospectus.
Transaction Charges In addition to withdrawal charges, you may also be charged for other transactions (for special requests such as wire transfers, express mail, duplicate contracts, preparing checks, third-party transfers or exchanges, or when you transfer between investment options in excess a certain number).
For additional information about transaction charges see "Charges and Expenses" in the Prospectus.
Ongoing Fees and Expenses (annual charges) Each series of the contract provides for different ongoing fees and expenses. The table below describes the fees and expenses that you may pay each year under the contract, depending on the options you choose. For Investment Edge® ADV contracts, the fees and expenses in the table below do not reflect any advisory fees paid to financial intermediaries from the contract value or other assets of the owner; if such fees were reflected the below fees and charges would be higher. Please refer to your contract specifications page for information about the specific fees you will pay each year based on the options you have elected.
Annual Fee Minimum Maximum
Base Contract (varies by contract series)(1) 0.30% 1.25%
Investment options (Portfolio fees and expenses)(2) 0.57% 2.65%

(1) Expressed as an annual percent of daily net assets in the variable investment options.

(2) Expressed as an annual percentage of daily net assets in the Portfolio. This range is for the year ended December 31, 2023 and could change from year to year.

Because your contract is customizable, the choices you make affect how much you will pay. To help you understand the cost of owning your contract, the following table shows the lowest and highest cost you could pay each year, based on current charges. This estimate assumes that you do not take withdrawals from the contract or make any other transactions, which could add withdrawal charges that substantially increase costs.

Lowest Annual Cost

$837

Highest Annual Cost

$3,282

Assumes:

•   Investment of $100,000

•   5% annual appreciation

•   Least expensive combination of contract series and Portfolio fees and expenses

•   No sales charges or advisory fees

•   No additional contributions, transfers or withdrawals

Assumes:

•   Investment of $100,000

•   5% annual appreciation

•   Most expensive combination of contract series (Investment Edge® Select) and Portfolio fees and expenses

•   No sales charges or advisory fees

•   No additional contributions, transfers or withdrawals

For additional information about ongoing fees and expenses see "Fee Table" in the Prospectus.

3

RISKS
Risk of Loss The contract is subject to the risk of loss. You could lose some or all of your account value.
Not a Short-Term Investment

The contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash because the contract is designed to provide for the accumulation of retirement savings and income on a long-term basis. As such, you should not use the contract as a short-term investment or savings vehicle. A withdrawal charge may apply in certain circumstances and any withdrawals may also be subject to federal and state income taxes and tax penalties.

For additional information about the investment profile of the contract see "Fee Table" in the Prospectus.

Risks Associated with Investment Options

An investment in the contract is subject to the risk of poor investment performance and can vary depending on the performance of the variable investment options available under the contract (e.g., the Portfolios). Each investment option has its own unique risks. You should review the investment options available under the contract before making an investment decision.

For additional information about the risks associated with investment options see "Variable Investment Options" and "Portfolios of the Trusts" in "Contracts Features and Benefits" in the Prospectus. For more information on the Portfolios, please refer to Appendix "Portfolio Companies available under the Contract" in this Annual Notice.

Insurance Company Risks

An investment in the contract is subject to the risks related to the Company. The Company is solely responsible to the contract owner for the contract's account value. The general obligations under the contract are supported by our general account and are subject to our claims-paying ability. An owner should look solely to our financial strength for our claims-paying ability. More information about the Company, including our financial strength ratings, may be obtained at https://equitable.com/about-us/financial-strength-ratings.

For additional information about insurance company risks see "About the general account" in "More information" in the Prospectus.

RESTRICTIONS
Investments We may, at any time, exercise our rights to limit or terminate your contributions, allocations and transfers to any of the variable investment options and to limit the number of variable investment options which you may select. Such rights include, among others, combining any two or more variable investment options and transferring account value from any variable investment option to another variable investment option. For more information see "About Separate Account No. 70" in "More Information" in the Prospectus.
Currently, we do not charge for transfers among investment options under the contract. However, we reserve the right to charge for any transfers in excess of 12 per contract year. We will provide you with advance notice if we decide to assess the transfer charge, which will never exceed $35 per transfer. For additional information about the investment options, including information regarding volatility management strategies and techniques, see "Transfer charge" in "Charges and Expenses" and "Portfolios of the Trusts" in "Contract Features and Benefits" in the Prospectus.
Optional Benefits At any time, we have the right to limit or terminate your ability to contribute to any of the investment options. If you have one or more guaranteed benefits like the Income Edge Payment Program (which is also known as an optional benefit) and we exercise our right to discontinue the acceptance of, and/or place additional limitations on, contributions to the contract, you may no longer be able to fund your guaranteed benefit(s). Withdrawals, including withdrawals to pay advisory fees, that exceed limits specified by the terms of an optional benefit may affect the availability of the benefit by reducing the benefit by an amount greater than the value withdrawn, and/or could terminate the benefit.
If you purchase an Investment Edge® ADV contract and you elect to pay the advisory fee from your account value, then this deduction will be treated as a withdrawal and will reduce the standard death benefit, and payments under the Income Edge Payment Program, and may also be subject to federal and state income taxes and a 10% federal penalty tax.
See "Fee-Based Expenses" in "Charges and Expenses" in the Prospectus. For additional information about the optional benefits see "How you can Purchase and Contribute to your Contract" in "Contract Features and Benefits" and "Payment of Death Benefit" in the Prospectus.

4

TAXES
Tax Implications You should consult with a tax professional to determine the tax implications of an investment in, and payments received under, the contract. There is no additional tax benefit to you if the contract is purchased through a tax-qualified plan or individual retirement account (IRA).
Withdrawals will be subject to ordinary income tax and may be subject to tax penalties. Generally, you are not taxed until you make a withdrawal from the contract.
For additional information about tax implications see "Tax Information" in the Prospectus.
CONFLICTS OF INTEREST
Investment Professional Compensation Some financial professionals may receive compensation for selling the contract to you, both in the form of commissions or in the form of contribution-based compensation. Financial professionals may also receive additional compensation for enhanced marketing opportunities and other services (commonly referred to as "marketing allowances"). This conflict of interest may influence the financial professional to recommend this contract over another investment.
For additional information about compensation to financial professionals see "Distribution of the contracts" in "More information" in the Prospectus.
Exchanges Some financial professionals may have a financial incentive to offer a new contract in place of the one you already own. You should only exchange your contract if you determine, after comparing the features, fees, and risks of both contracts, that it is preferable to purchase the new contract rather than continue to own your existing contract.
For additional information about exchanges see "Charge for Third-Party Transfer or Exchange" in "Charges and Expenses" in the Prospectus.

5

Appendix: Portfolio Companies available under the Contract

The following is a list of Portfolio Companies available under the contract. More information about the Portfolio Companies is available in the prospectuses for the Portfolio Companies, which may be amended from time to time and can be found online at www.equitable.com/ICSR#EQH151163. You can request this information at no cost by calling 1-877-522-5035 or by sending an email request to [email protected].

The current expenses and performance information below reflects fees and expenses of the Portfolios, but do not reflect the other fees and expenses that your contract may charge. Expenses would be higher and performance would be lower if these charges were included. Each Portfolio's past performance is not necessarily an indication of future performance.

Affiliated Portfolio Companies:

TYPE Portfolio Company - Investment Adviser; Sub-Adviser(s), as applicable

Current

 Expenses 

Average Annual Total Returns
(as of 12/31/2023)
1 year 5 year 10 year

Specialty

1290 VT Convertible Securities - Equitable Investment Management Group, LLC ("EIMG"); SSGA Funds Management, Inc.

0.90% ^ 13.73% 9.37% 6.84%

Fixed Income

1290 VT DoubleLine Opportunistic Bond - EIMG; DoubleLine Capital LP

0.91% ^ 6.60% 0.72% -

Equity

1290 VT Equity Income - EIMG; Barrow, Hanley, Mewhinney & Strauss, LLC d/b/a Barrow Hanley Global Investors

0.95% ^ 5.49% 10.25% 7.23%

Specialty

1290 VT GAMCO Mergers & Acquisitions - EIMG; GAMCO Asset Management, Inc.

1.29% ^ 9.53% 4.22% 3.39%

Equity

1290 VT GAMCO Small Company Value - EIMG; GAMCO Asset Management, Inc.

1.06% 21.04% 12.82% 7.94%

Fixed Income

1290 VT High Yield Bond - EIMG; AXA Investment Managers US Inc., Post Advisory Group, LLC

1.03% ^ 12.39% 4.73% 3.76%

Specialty

1290 VT Natural Resources - EIMG; AllianceBernstein L.P.

0.90% ^ 1.17% 10.31% 2.80%

Specialty

1290 VT Real Estate - EIMG; AllianceBernstein L.P.

0.90% ^ 9.46% 2.74% 3.61%

Equity

1290 VT Small Cap Value - EIMG; BlackRock Investment Management, LLC, Horizon Kinetics Asset Management LLC

1.17% ^ 5.79% 12.69% -

Equity

1290 VT SmartBeta Equity ESG - EIMG; AXA Investment Managers US Inc.

1.10% ^ 16.49% 11.53% 8.52%

Equity

1290 VT Socially Responsible - EIMG; BlackRock Investment Management, LLC

0.92% 27.50% 15.12% 11.32%

Equity

EQ/500 Managed Volatility† - EIMG; AllianceBernstein L.P., BlackRock Investment Management, LLC

0.81% 25.27% 14.21% 10.71%

Asset Allocation

EQ/AB Dynamic Moderate GrowthΔ - EIMG; AllianceBernstein L.P.

1.13% 12.96% 5.50% 4.15%

Fixed Income

EQ/AB Short Duration Government Bond - EIMG; AllianceBernstein L.P.

0.77% ^ 4.35% 1.11% 0.60%

Equity

EQ/AB Small Cap Growth - EIMG; AllianceBernstein L.P.

0.93% 17.70% 10.59% 7.78%

Asset Allocation

EQ/Aggressive Allocation† - EIMG

1.18% 18.37% 10.23% 7.07%

Asset Allocation

EQ/All Asset Growth Allocation - EIMG

1.25% ^ 14.15% 7.70% 5.27%

Equity

EQ/American Century Mid Cap Value - EIMG; American Century Investment Management, Inc.

1.00% ^ 5.98% 10.88% -

Equity

EQ/Common Stock Index - EIMG; AllianceBernstein L.P.

0.67% ^ 25.13% 14.45% 10.79%

Asset Allocation

EQ/Conservative Allocation† - EIMG

1.00% ^ 8.02% 2.60% 2.15%

Fixed Income

EQ/Core Bond Index - EIMG; SSGA Funds Management, Inc.

0.64% ^ 4.51% 1.02% 1.11%

Fixed Income

EQ/Core Plus Bond - EIMG; Brandywine Global Investment Management, LLC, Loomis, Sayles & Company, L.P.

0.93% ^ 4.51% 1.94% 1.60%

Equity

EQ/Emerging Markets Equity PLUS - EIMG; AllianceBernstein L.P., EARNEST Partners, LLC

1.20% ^ 10.34% 4.02% 1.86%

Equity

EQ/Equity 500 Index - EIMG; AllianceBernstein L.P.

0.54% ^ 25.57% 15.03% 11.37%

Equity

EQ/Fidelity Institutional AM® Large Cap - EIMG; FIAM LLC

0.87% ^ 31.38% 16.55% -

Equity

EQ/Franklin Rising Dividends - EIMG; Franklin Advisers, Inc.

0.87% ^ 12.13% 13.88% -

Fixed Income

EQ/Intermediate Government Bond - EIMG; SSGA Funds Management, Inc.

0.64% ^ 3.87% 0.39% 0.56%

Equity

EQ/International Equity Index - EIMG; AllianceBernstein L.P.

0.72% ^ 19.04% 8.10% 3.69%

Equity

EQ/Invesco Global - EIMG; Invesco Advisers, Inc.

1.10% ^ 33.79% 11.76% 7.95%

6

TYPE Portfolio Company - Investment Adviser; Sub-Adviser(s), as applicable

Current

 Expenses 

Average Annual Total Returns
(as of 12/31/2023)
1 year 5 year 10 year

Specialty

EQ/Invesco Global Real Assets - EIMG; Invesco Advisers, Inc.

1.16% 10.08% 5.45% -

Equity

EQ/Janus Enterprise - EIMG; Janus Henderson Investors US LLC

1.05% 17.01% 13.08% 7.62%

Equity

EQ/JPMorgan Growth Stock - EIMG; J.P. Morgan Investment Management Inc.

0.96% ^ 46.33% 12.84% 11.28%

Equity

EQ/JPMorgan Value Opportunities - EIMG; J.P. Morgan Investment Management Inc.

0.96% 10.90% 14.17% 10.12%

Equity

EQ/Large Cap Growth Index - EIMG; AllianceBernstein L.P.

0.73% 41.54% 18.63% 14.02%

Equity

EQ/Large Cap Value Index - EIMG; AllianceBernstein L.P.

0.74% 10.71% 10.15% 7.66%

Equity

EQ/Lazard Emerging Markets Equity - EIMG; Lazard Asset Management LLC

1.35% ^ 21.68% 5.11% -

Equity

EQ/Loomis Sayles Growth - EIMG; Loomis, Sayles & Company, L.P.

1.05% ^ 43.89% 15.66% 13.24%

Equity

EQ/MFS International Growth - EIMG; Massachusetts Financial Services Company d/b/a MFS Investment Management

1.10% ^ 14.52% 9.28% 6.12%

Equity

EQ/MFS International Intrinsic Value - EIMG; Massachusetts Financial Services Company d/b/a MFS Investment Management

1.15% ^ 17.37% 8.29% -

Specialty

EQ/MFS Technology - EIMG; Massachusetts Financial Services Company d/b/a MFS Investment Management

1.14% 54.10% 17.38% -

Specialty

EQ/MFS Utilities Series - EIMG; Massachusetts Financial Services Company d/b/a MFS Investment Management

1.05% ^ -2.36% 8.01% -

Equity

EQ/Mid Cap Index - EIMG; AllianceBernstein L.P.

0.65% ^ 15.77% 11.88% 8.54%

Asset Allocation

EQ/Moderate Allocation† - EIMG

1.11% 12.31% 5.76% 4.17%

Asset Allocation

EQ/Moderate-Plus Allocation† - EIMG

1.13% 15.36% 8.10% 5.67%

Cash/Cash Equivalent

EQ/Money Market* - EIMG; Dreyfus, a division of Mellon Investments Corporation

0.69% 4.47% 1.48% 0.90%

Equity

EQ/Morgan Stanley Small Cap Growth - EIMG; BlackRock Investment Management, LLC, Morgan Stanley Investment Management, Inc.

1.15% ^ 34.45% 15.17% -

Fixed Income

EQ/PIMCO Global Real Return - EIMG; Pacific Investment Management Company LLC

2.36% ^ 4.09% 1.62% 2.49%

Fixed Income

EQ/PIMCO Total Return ESG - EIMG; Pacific Investment Management Company LLC

0.87% ^ 5.63% 1.11% -

Fixed Income

EQ/PIMCO Ultra Short Bond - EIMG; Pacific Investment Management Company LLC

0.88% ^ 5.56% 1.61% 1.25%

Equity

EQ/Small Company Index - EIMG; AllianceBernstein L.P.

0.64% 16.72% 10.06% 7.01%

Specialty

EQ/T. Rowe Price Health Sciences - EIMG; T. Rowe Price Associates, Inc.

1.20% ^ 3.99% 9.94% -

Equity

EQ/Value Equity - EIMG; Aristotle Capital Management, LLC

0.92% 19.52% 10.06% 6.90%

Specialty

EQ/Wellington Energy - EIMG; Wellington Management Company LLP

1.19% ^ 5.99% 3.78% -

Specialty

Multimanager Technology - EIMG; AllianceBernstein L.P., FIAM LLC, Wellington Management Company LLP

1.24% ^ 49.53% 19.07% 16.18%
^

This Portfolio's annual expenses reflect temporary fee reductions.

Δ

Certain other affiliated Portfolios, as well as unaffiliated Portfolios, may utilize volatility management techniques that differ from the EQ volatility management strategy. Affiliated Portfolios that utilize these volatility management techniques are identified in the chart by a "Δ". Any such unaffiliated Portfolio is not identified in the chart. See "Portfolios of the Trusts" for more information regarding volatility management.

†

EQ Managed Volatility Portfolios that include the EQ volatility management strategy as part of their investment objective and/or principal investment strategy, and the EQ/affiliated Fund of Fund Portfolios that invest in Portfolios that use the EQ volatility management strategy, are identified in the chart by a "†". See "Portfolios of the Trusts" for more information regarding volatility management.

*

The Portfolio operates as a "government money market fund." The Portfolio will invest at least 99.5% of its total assets in U.S. government securities, cash, and/or repurchase agreements that are fully collateralized by U.S. government securities or cash.

Unaffiliated Portfolio Companies:

TYPE Portfolio Company - Investment Adviser; Sub-Adviser(s), as applicable

Current

 Expenses 

Average Annual Total Returns
(as of 12/31/2023)
1 year 5 year 10 year

Equity

AB VPS Discovery Value Portfolio - AllianceBernstein L.P.

1.06% 16.86% 10.51% 7.29%

Equity

AB VPS Relative Value Portfolio - AllianceBernstein L.P.

0.86% ^ 11.72% 11.57% 9.05%

Equity

AB VPS Sustainable Global Thematic Portfolio - AllianceBernstein L.P.

1.17% ^ 15.70% 13.27% 9.33%

Asset Allocation

American Funds Insurance Series® Asset Allocation Fund - Capital Research and Management Company

0.80% 14.02% 8.93% 6.98%

7

TYPE Portfolio Company - Investment Adviser; Sub-Adviser(s), as applicable

Current

 Expenses 

Average Annual Total Returns
(as of 12/31/2023)
1 year 5 year 10 year

Equity

American Funds Insurance Series®Global Growth Fund - Capital Research and Management Company

0.91% ^ 22.29% 13.36% 9.30%

Equity

American Funds Insurance Series® Global Small Capitalization Fund - Capital Research and Management Company

1.16% ^ 15.79% 8.03% 5.51%

Equity

American Funds Insurance Series® Growth-Income Fund - Capital Research and Management Company

0.78% 25.82% 13.08% 10.63%

Equity

American Funds Insurance Series® International Growth and Income Fund - Capital Research and Management Company

1.06% 15.66% 5.86% 3.06%

Equity

American Funds Insurance Series® New World Fund® - Capital Research and Management Company

1.07% ^ 15.67% 8.37% 4.43%

Asset Allocation

BlackRock Global Allocation V.I. Fund - BlackRock Advisors, LLC; BlackRock International Limited, BlackRock (Singapore) Limited

1.02% ^ 12.49% 7.39% 4.63%

Specialty

Eaton Vance VT Floating-Rate Income Fund - Eaton Vance Management

1.17% 11.21% 4.13% 3.22%

Fixed Income

Federated Hermes High Income Bond Fund II - Federated Investment Management Company

1.06% ^ 12.47% 4.49% 3.87%

Equity

Federated Hermes Kaufmann Fund II - Federated Equity Management Company of Pennsylvania; Federated Global Investment Management Corporation

1.80% ^ 14.86% 7.04% 8.39%

Equity

Fidelity® VIP Mid Cap Portfolio - Fidelity Management and Research Company (FMR)

0.82% 14.80% 12.17% 7.86%

Fixed Income

Fidelity®VIP Strategic Income Portfolio - Fidelity Management and Research Company (FMR)

0.90% 9.18% 3.47% 3.10%

Asset Allocation

First Trust Multi Income Allocation Portfolio - First Trust Advisors L.P.; Stonebridge Advisors LLC, Energy Income Partners, LLC

1.14% ^ 8.94% 6.25% -

Asset Allocation

First Trust/Dow Jones Dividend & Income Allocation Portfolio - First Trust Advisors L.P.

1.19% 10.51% 7.23% 6.53%

Asset Allocation

Franklin Allocation VIP Fund - Franklin Advisers, Inc.

0.82% ^ 14.61% 7.57% 4.75%

Asset Allocation

Franklin Income VIP Fund - Franklin Advisers, Inc.

0.71% ^ 8.62% 6.98% 5.01%

Specialty

Guggenheim VIF Global Managed Futures Strategy Fund - Security Investors, LLC, which operates under the name Guggenheim Investments

2.05% ^ 3.80% 5.28% 1.87%

Equity

Hartford Disciplined Equity HLS Fund - Hartford Funds Management Company, LLC; Wellington Management Company LLP

1.09% 20.66% - -

Asset Allocation

Invesco V.I. Balanced-Risk Allocation Fund - Invesco Advisers, Inc.

1.13% ^ 6.40% 4.66% 3.79%

Specialty

Invesco V.I. Health Care Fund - Invesco Advisers, Inc.

1.23% 2.77% 8.49% 6.60%

Fixed Income

Invesco V.I. High Yield Fund - Invesco Advisers, Inc.

1.15% 9.77% 3.76% 2.96%

Equity

Invesco V.I. Small Cap Equity Fund - Invesco Advisers, Inc.

1.20% 16.26% 12.14% 6.28%

Asset Allocation

Janus Henderson Balanced Portfolio - Janus Henderson Investors US LLC

0.87% 15.13% 9.37% 7.73%

Fixed Income

Janus Henderson Flexible Bond Portfolio - Janus Henderson Investors US LLC

0.82% ^ 5.29% 1.55% 1.66%

Fixed Income

Lord Abbett Bond Debenture Portfolio (VC) - Lord, Abbett & Co. LLC

0.90% 6.55% 3.14% 3.49%

Asset Allocation

Macquarie VIP Asset Strategy Series(1) - Delaware Management Company; Macquarie Investment Management Austria Kapitalanlage AG, Macquarie Investment Management Europe Limited, Macquarie Investment Management Global Limited

0.85% ^ 13.90% 8.27% 3.48%

Equity

Macquarie VIP Emerging Markets Series(2) - Delaware Management Company; Macquarie Investment Management Global Limited

1.48% ^ 13.44% 3.87% 2.38%

Equity

MFS® Investors Trust Series - Massachusetts Financial Services Company

1.03% ^ 18.66% 13.27% 10.00%

Equity

MFS® Value Series - Massachusetts Financial Services Company

0.94% ^ 7.63% 11.07% 8.25%

Specialty

PIMCO CommodityRealReturn® Strategy Portfolio - Pacific Investment Management Company LLC

1.58% ^ -7.93% 8.46% -0.90%

Specialty

PIMCO Emerging Markets Bond Portfolio - Pacific Investment Management Company LLC

1.37% 11.00% 2.14% 2.67%

Fixed Income

PIMCO Global Bond Opportunities Portfolio (Unhedged) - Pacific Investment Management Company LLC

1.11% 5.16% 0.86% 0.99%

Asset Allocation

PIMCO Global Managed Asset Allocation Portfolio - Pacific Investment Management Company LLC

1.34% ^ 12.85% 7.20% 5.14%

Equity

T. Rowe Price Equity Income Portfolio - II - T. Rowe Price Associates, Inc.

0.99% 9.31% 10.92% 7.57%

Fixed Income

Templeton Global Bond VIP Fund - Franklin Advisers, Inc.

0.75% ^ 2.88% -2.13% -0.66%

8

TYPE Portfolio Company - Investment Adviser; Sub-Adviser(s), as applicable

Current

 Expenses 

Average Annual Total Returns
(as of 12/31/2023)
1 year 5 year 10 year

Specialty

VanEck VIP Emerging Markets Bond Fund - Van Eck Associates Corporation

1.10% ^ 11.40% 4.06% 1.97%

Specialty

VanEck VIP Global Resources Fund - Van Eck Associates Corporation

1.36% -3.84% 10.34% -1.26%
^

This Portfolio's annual expenses reflect temporary fee reductions.

(1)

This is the variable investment option's new name. The variable investment option's former name is Delaware Ivy VIP Asset Strategy which may continue to be used in certain documents for a period of time after the date of this prospectus.

(2)

This is the variable investment option's new name. The variable investment option's former name is Delaware VIP® Emerging Markets Series which may continue to be used in certain documents for a period of time after the date of this prospectus.

9

Investment Edge®

Issued by

Equitable Financial Life Insurance Company

Please retain this Annual Notice for future reference. The last prospectus and statement of additional information for the contract, dated May 1, 2016, contains more information about the contract. You may contact us to request this additional information free of charge. Instructions for contacting us are included on the front cover page of this Annual Notice.

Class/Contract Identifier: C000131283

(#475800)