Exercising your Guaranteed

Minimum Income Benefit (GMIB)

Accumulator® variable annuity

Variable Annuities: • Are Not a Deposit of Any Bank • Are Not FDIC Insured • Are Not Insured by Any Federal Government Agency
• Are Not Guaranteed by Any Bank or Savings Association • May Go Down in Value
Equitable Financial Life Insurance Company (NY, NY)
The basics
First, we’ll review the type of contract you
purchased, then we’ll look at your payment
options and explain how GMIB exercise works.

What is an annuity?
An annuity is a contract between you and an insurance company that lets you pursue the
accumulation of assets then receive a series of payments during a specified period of time
or for life. It is a long-term, tax-deferred investment. Withdrawals from your contract value
may be subject to withdrawal charges. An additional 10% federal income tax penalty may
also apply to withdrawals taken before age 59½.

An immediate annuity is an annuity purchased with a lump sum where the payments to
you begin immediately. A deferred annuity has an account value that can be applied to
purchase a payout annuity at a later date. Federal income tax on any earnings is usually
deferred until amounts are withdrawn or payments begin. (Exceptions may apply, please
see your Accumulator® Series prospectus.)

A variable deferred annuity is a contract designed to deal with retirement financial issues.
The account value can be invested in a variety of investment options. It will then vary
based on the performance of the selected investments.

Your Accumulator® Series contract enables you to invest your account value in the
variable investment portfolios.

What is annuitization?
In general, annuitization is when you choose to apply an amount or value under your
deferred annuity contract to purchase a stream of income payments for your lifetime, or
the lifetime of you and your joint annuitant. Depending on your choice, these payments
can be guaranteed or can vary with the performance of investments. You can also choose
to receive payments for a specified number of years. Once you annuitize, you change from
a deferred annuity to a payout annuity. The build phase of your contract ends, and you
begin the payout phase of your contract.
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GMIB 1

Your Accumulator® Series variable annuity contract contains a GMIB, an optional benefit
you chose for an additional fee that is subject to restrictions and/or limitations. The GMIB
guarantees a minimum level of lifetime payments upon annuitization, regardless of how
your investment portfolios performed.

The portion of the Annuity Account Value of your Accumulator® Series contract allocated
to the Variable Investment Options fluctuates, and may increase or decrease in value.
Therefore, the amount of the payments you would receive upon annuitization cannot be
predicted in advance. It would depend on the performance of your Variable Investment
Options. However, because you have GMIB, you have a GMIB Benefit Base. As discussed
below, this benefit base helps assure that even if your investments have performed poorly,
you will still receive a minimum level of guaranteed lifetime payments when you annuitize
the contract.

The GMIB Benefit Base

The GMIB uses a benefit base that rolls up on a yearly basis (adjusted for withdrawals
and charges), regardless of how your investment portfolios actually perform.

This benefit base is not an account value or cash value. You cannot withdraw amounts
from it or borrow from it. It is used only to determine the minimum amount of your lifetime
income when the GMIB is exercised.

1 All guarantees are based on the claims-paying ability of Equitable Financial Life Insurance Company (Equitable Financial). The guarantees do not apply to the
investment portfolios of the variable annuity. Equitable Financial Life Insurance Company (Equitable Financial) does not provide tax or legal advice.
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What are your

payout options?
Generally, the amount of payments you actually receive upon annuitization is based
on two factors:

1 Your Annuity Account Value (AAV), which is a function of how your

investment portfolios have performed.

2
The applicable annuity purchase rate, which is based on life expectancy
tables and an interest rate. This rate would be the more favorable of the
rate guaranteed in your contract or our currently available rates.

When GMIB is exercised, however, the payments you receive will be based on the
more favorable of either: (1) normal annuitization as described above; (2) your benefit
base (after any applicable adjustments) multiplied by the guaranteed GMIB factors to
purchase either a fixed life annuity or an Income Manager® (life annuity with a period
certain) payout option, as described below.

The Income Manager® payout annuity is not an available GMIB option under the
Accumulator® Series contract issued in Washington state on or after August 13, 2001.
Accumulator® contracts issued in Washington during this period will be issued a
traditional life annuity with period certain contract.

Check with your financial professional for state guidelines, availability and restrictions
regarding GMIB, Income Manager® life with period certain and traditional fixed
life annuity.
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Payout options
Joint and survivor Under all payout options, you may also choose to continue annuity payments to survivors. Joint and survivor
payout options payout options are 100%, 66.67% or 50% of the payout amount in the contract. Payout amounts for these
options are lower than the corresponding single life payout.

Income Manager® If you choose an Income Manager® life with a period certain annuity as your payout contract, you will receive
life with the appropriate level of annuity payments on a single- or joint-life basis.
period certain
The Income Manager® payout contract includes a period certain of up to 10 years. You may select a time period
that is shorter than the maximum (except at age 84 or older) in which to receive payments. In this case, when
you annuitize, payments will be made during the annuitant’s lifetime, but for no less than 10 years, even if the
annuitant dies sooner.

The period certain is determined by the annuitant’s age at the exercise of the optional GMIB, as well as the
type of contract [qualified or nonqualified (NQ)].

For joint annuitants, the period certain is determined by the younger annuitant’s age. If the annuitant dies,
payments continue for the remainder of the period certain. If, in the case of a joint annuity, the last survivor
should die, the payments will continue to a beneficiary who has the option of continuing the remaining
payments or receiving them in a single sum.

Your Income Manager® prospectus you received with this brochure contains complete information about the
Income Manager® life with period certain payout contract.

Withdrawals The Income Manager® life with period certain contract allows you to take withdrawals after the first contract
year. However, you only take withdrawals during the period certain. Withdrawals may reduce the remaining
payments, shorten the period certain and accelerate the life contingent annuity (LCA), which continues your
annuity payout contract and provides your payments when the period certain ends. Withdrawals are subject
to a market value adjustment that may increase or decrease their effect on the remaining payments and the
period certain. Withdrawal charges will not apply.

No withdrawals can be taken after the LCA takes effect. Note: The LCA portion of the payout contract has no
cash value and cannot be surrendered.

Payments Payments are made on a monthly, quarterly or annual basis on the 15th day of the month. Your payments
generally begin one payment period (e.g., annual, quarterly or monthly) after your payout annuity goes into
effect. If the annual payment mode is chosen, the first payment will be made 1 year after the payout contract
is issued. The payment amounts received in 1 year under the monthly or quarterly mode will be less than the
amount that would have been received under an annual payment mode. Payments end on the last payment
date before the death of the annuitant or last surviving joint annuitant, or with the last period certain payment,
whichever is later.

Traditional The traditional life annuity contract provides guaranteed payments for the lifetime of the annuitant or joint
life annuity annuitants. At the time of death of the annuitant (or last surviving joint annuitant), payments stop and the
contract terminates. Withdrawals from the contract are not allowed.

Payments may be made on a monthly, quarterly or annual basis and are made on the same calendar date (i.e.,
10th, 15th, 20th) of your initial payment contract. Payments begin one payment period (monthly, quarterly or
annually) from the date the traditional life payout annuity goes into effect.

Alternative As discussed above, you can always apply your AAV to a traditional annuitization option.
payout methods
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Your considerations
Is now the right time to exercise the GMIB?
Your GMIB has a waiting period during which you are not allowed to exercise until you
reach a specified age or own your Accumulator® Series annuity for a specified length
of time. After completing the waiting period, you are now eligible to use the GMIB
feature to annuitize your contract. If you have already reached the maximum age, this
may be your only opportunity to exercise the GMIB. Your financial professional can
help you determine your maximum exercise age.

Exercise restrictions
For qualified plans (QPs), in order to exercise, the contract owner must change ownership
to the annuitant, who must then roll the QP into a traditional IRA. Change of ownership
may occur only when the annuitant will no longer be a participant in the qualified plan.

For a rollover TSA, in order to exercise, the owner/annuitant must first roll over the TSA
into a traditional IRA. This may occur only when the participant is eligible for a rollover
distribution from the plan.

In the case of an IRA contract, the joint annuitant can only be a spouse.

Note: When exercising the GMIB,

should the owner and annuitant
be different, the payout annuity
contract pays income to the owner.
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Frequently asked questions

1 Do I have to exercise my GMIB?

It’s important to understand that you are under no obligation to exercise your GMIB now or in the future. You
are also free at any time to convert your contract by applying its cash value or account value (as permitted under
the contract) to any of the available payout options, as discussed earlier. If you are at the maximum age in your
contract, this anniversary would be your only chance to exercise. If you have not reached the maximum age and
decide not to exercise your GMIB this year, you will not be able to do so until your next contract anniversary date.
Therefore, you should consider your options carefully and make a timely choice. The first step is to consider
whether you need income from the contract now, or not. If not, then it may make sense to hold off for this year
and re-evaluate your situation a year from now.

2 What happens to my Accumulator® Series contract if I exercise the GMIB?

Your Accumulator® Series contract will end and your assets will not have the opportunity to be invested in the
market for potential growth. Any Guaranteed Minimum Death Benefit (GMDB) under your Accumulator® Series
contract will also terminate.

3 If I need annuity payments now, what should I do?

If you want to begin receiving payments, you can annuitize by exercising the GMIB and electing one of the payout
options. If you believe you need to receive payments only temporarily, you might consider taking lump-sum or
systematic withdrawals from your existing Accumulator® Series contract as you need them. Your remaining assets
will continue to potentially earn tax-deferred investment returns. Meanwhile, your benefit base, while reduced to
reflect the withdrawals, will continue to increase in the future, subject to maximum age limits.

Withdrawals may be subject to contingent deferred withdrawal charges and fixed maturity option market value
adjustments, which may increase or decrease the account value.

Withdrawals and distributions of taxable amounts are subject to ordinary income tax and, if made prior to age
59½, may be subject to an additional 10% federal income tax penalty.

Please refer to the prospectus for additional withdrawal information. Your financial professional or our Customer
Service help line can assist you in comparing your payment options.

4 What income tax results from GMIB payments?

If your Accumulator® Series contract is NQ, each GMIB payment is partly a return of your after-tax investment
in the contract, and the remaining part is taxable as ordinary income. 2 The portion of each GMIB payment
representing the return of your investment in the contract is excluded from your taxable income. You do not
pay federal income tax on this portion of the payment. Once you’ve received the amount of your investment
in the contract, all payments are fully taxable.

If your Accumulator® Series contract is tax-qualified, typically you have no after-tax contributions, and the entire
amount of each GMIB is fully taxable. For an IRA, it is your responsibility to calculate the taxable amount and the
non-taxable return of after-tax contributions, as all of your IRAs of the same type are treated as one investment.

2 Withdrawals made during the period certain are not GMIB payments and may be fully taxable as ordinary income. Equitable Financial, Equitable Advisors and
Equitable Distributors do not provide tax or legal advice. Contact your tax or legal professional for information about your particular situation.
 What’s next?
Your financial professional will help you determine the level of income available by
exercising your GMIB versus traditional annuitization. They can also help you with
systematic withdrawal options. If you decide to exercise your GMIB, you should be
aware of the following:

• You must complete the accompanying GMIB request to exercise form that applies for
your Accumulator® Series contract. This form must be received in our processing office
within 30 days following your contract anniversary. The form is also available from your
financial professional or by calling Accumulator® Customer Service at (800) 789-7771.

• You must also return your contract with the GMIB request to exercise form to Equitable
Financial. If you cannot locate your contract, you should so indicate on the exercise form.

• Based on the frequency of the payments you choose, you may not receive any income
until one year after you exercise your GMIB.

• If your variable annuity is in an IRA or other qualified retirement plan, please check with
your tax advisor before arranging for lifetime payments. If you have already begun to
take Required Minimum Distributions (RMDs) annually, you may find other alternatives
to be more advantageous.

Your GMIB is a valuable benefit, but admittedly, it is complex. Make
sure you receive the advice you need before making any decisions
that might be irrevocable. Call your financial professional to discuss
whether exercising your GMIB is the right decision for you.
This material is not a complete description of all material provisions
of the contract and must be preceded or accompanied by the
Accumulator® Series variable annuity and Income Manager® payout
annuity’s prospectuses. Each prospectus contains more complete
information about the specific annuity contract, including risks, charges
and expenses.
Please read the prospectus carefully. The Accumulator® Series variable
annuities are long-term investment products designed for retirement purposes.
Withdrawals of taxable amounts are subject to ordinary income tax and, if made
prior to age 59½, may be subject to an additional 10% federal income tax
penalty. Variable annuities are subject to market risk, including the possible
loss of principal invested, and they have mortality and expense charges,
account fees, investment management fees, administrative fees, charges for
special contract features, and restrictions and limitations. For costs and
complete details of coverage, call your financial professional or insurance-
licensed registered representative. Neither Equitable Financial nor its agents
provide tax and legal advice. You should consult with your attorney and/or tax
advisor before making final investing or planning decisions. The Accumulator®
Series contract may terminate if the annuity account value is zero.
Guarantees described herein are subject to the claims-paying ability of
Equitable Financial Life Insurance Company. The guarantees do not apply to
the investment portfolios offered under the Accumulator® Series contracts.
Accumulator® and Income Manager® are registered service marks of Equitable
Financial Life Insurance Company, NY, NY 10104. Co-distributed by affiliates
Equitable Advisors, LLC (member FINRA, SIPC) (Equitable Financial Advisors
in MI & TN) and Equitable Distributors, LLC.
Variable annuity products are issued by Equitable Financial Life Insurance
Company (Equitable Financial) and co-distributed by affiliates Equitable
Distributors, LLC and Equitable Advisors, LLC (member FINRA, SIPC) (Equitable
Financial Advisors in MI & TN). Equitable Financial, Equitable Advisors and
Equitable Distributors do not provide tax or legal advice.
Equitable is the brand name of the retirement and protection subsidiaries of
Equitable Holdings, Inc., including Equitable Financial Life Insurance Company
(Equitable Financial) (NY, NY); Equitable Financial Life Insurance Company of
America (Equitable America), an AZ stock company with main administrative
headquarters in Jersey City, NJ; and Equitable Distributors, LLC. Equitable
Advisors is the brand name of Equitable Advisors, LLC (member FINRA, SIPC)
(Equitable Financial Advisors in MI & TN).
Income Manager® GMIB exercise contract: SCGMIB03.
Life only GMIB exercise contract: 2010SCGMIB-L (2000 and 2001 Series).

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