Equitable Life are beginning to dish up some revenue to policyholders. They plan to hand out 12.5% of policy values to policyholders, this is effectively taken from their reserves which they suggest have been built up sufficiently. This is presumably a part of a long drawn out closure and "profit sharing" which by these maths looks likely to take 8 years. Never-the-less this is good news for anyone with the misfortune to have an Equitable Life policy. The full press release is found here. Oh and here's an Equitable Life advert... in which Buzz Aldrin features. Regrettably the signs of overambitious nonsense were there to see at the time, in truth it was easier to put man on the moon than keep a guaranteed annuity rate of over 14%.
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