REGISTRATION NO. 333-

Filed with the Securities and Exchange Commission on ~~December~~February 1714, ~~2020.~~2025

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM S-1

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

ARIZONA

(STATE OR OTHER JURISDICTION OF

INCORPORATION OR ORGANIZATION)

6311

(PRIMARY STANDARD INDUSTRIAL

CLASSIFICATION CODE NUMBER)

86-0222062

(I. R. S. EMPLOYER IDENTIFICATION NUMBER)

~~525~~8501 ~~WASHINGTON~~IBM ~~BOULEVARD~~ DRIVE, SUITE 150

~~JERSEY CITY~~CHARLOTTE, NJNC ~~07310~~28262-4333

(212) 554-1234

(ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER,

INCLUDING AREA CODE, OF REGISTRANT’S PRINCIPAL EXECUTIVE OFFICES)

~~SHANE~~ALFRED ~~DALY~~AYENSU-GHARTEY

VICE PRESIDENT AND ASSOCIATE GENERAL COUNSEL

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

~~1290~~8501 ~~AVENUE~~IBM OFDRIVE, ~~THE AMERICAS~~SUITE 150

~~NEW YORK~~CHARLOTTE, ~~NEW~~NC ~~YORK~~28262-4333 ~~10104~~

(212) 554-1234

(NAME, ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER,

INCLUDING AREA CODE, OF AGENT FOR SERVICE)

If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box: ☐

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box: ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462 (b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462 (c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462 (d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the commission pursuant to Rule 462(e) under the Securities Act, check the following box. ☐

If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act . ☐

CALCULATION OF REGISTRATION FEE

Title of each class of securities to be registered	Amount to be registered(1)	Proposed maximum offering price per unit(1)	Proposed maximum aggregate offering price(1)	Amount ofregistration fee(2)
Interests in Variable Indexed Options	$1,000,000	N/A	N/A	$109.10
Equitable Financial Life Insurance Company	—	—	—	None

(1) An indeterminate number or amount of interests in the Market Stabilizer Option(R) of Equitable Financial Life Insurance Company of America that may from time to time be issued at indeterminate prices, in U.S. dollars. Units of interest are only sold in U.S. dollar amounts. In no event will the aggregate maximum offering price of all securities issued pursuant to this registration statement exceed $1,000,000.

(2) Estimated solely for the purpose of determining the amount of the registration fee.

The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until this Registration Statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.

Market Stabilizer Option® ~~Available Under Certain Variable Life Insurance Policies Issued by Equitable Financial Life Insurance Company of America~~

~~Prospectus~~Issued ~~dated~~by ~~May~~Equitable 1,Financial ~~2021~~Life Insurance Company and Equitable Financial Life Insurance Company of America

~~Please read and keep this~~ Prospectus ~~for~~dated ~~future~~May ~~reference. It contains important information that you should know before purchasing or taking any other action under your policy. This Prospectus supersedes all prior prospectuses. Also~~1, ~~this Prospectus must be read along with the appropriate variable life insurance policy~~2025 prospectus. This Prospectus is in addition to the appropriate variable life insurance policy prospectus and all information in the appropriate variable life insurance policy prospectus continues to apply unless addressed by this Prospectus.

~~Equitable~~Please ~~Financial~~read ~~Life~~and ~~Insurance~~keep ~~Company~~this ofProspectus ~~America~~for ~~(the~~future ~~“Company”,~~reference. ~~“we”,~~It contains important ~~“our”~~information ~~and~~that ~~“us”),~~you ~~formerly~~should ~~MONY~~know ~~Life~~before ~~Insurance~~purchasing ~~Company~~or oftaking ~~America~~any ~~issues~~other ~~the~~action ~~Market~~under ~~Stabilizer~~your ~~Option® described~~policy. inAlso, this Prospectus. ~~The~~must ~~Market~~be ~~Stabilizer~~read ~~Option®~~along with the appropriate variable life insurance policy prospectus. This Prospectus is ~~available~~in ~~only~~addition ~~under~~to ~~certain~~the appropriate variable life insurance ~~policies~~ ~~that~~policy weprospectus ~~offer~~ and ~~may~~all ~~not~~information bein ~~available~~the ~~through~~appropriate ~~your~~variable ~~financial~~life ~~professional~~insurance policy prospectus continues to apply unless addressed by this Prospectus.

Equitable Financial Life Insurance Company and Equitable Financial Life Insurance Company of America issue the Market Stabilizer Option^® described in this Prospectus. The Market Stabilizer Option^® is available only under certain variable life insurance policies that we offer and may not be available through your financial professional.

What is the Market Stabilizer Option^®?

The Market Stabilizer Option^® (“MSO”) is an investment option available under certain variable life insurance policies. The option provides for participation in the performance of the S&P 500 Price Return index, which excludes dividends (the “Index”) up to the Growth Cap Rate that we set on the Segment Start Date. While the Growth Cap Rate is set at the Company’s sole discretion, the Growth Cap Rate will not change during a Segment Term and the Growth Cap Rate will always be at least 6%. On the Segment Maturity Date, we will apply the Index-Linked Rate of Return to the Segment Account Value based on the performance of the Index. If the performance of the Index has been positive for the Segment Term and equal to or below the Growth Cap Rate, we will apply to the Segment Account Value an Index-Linked Rate of Return equal to the full Index performance. If the performance of the Index has been positive for the Segment Term and above the Growth Cap Rate, we will apply an Index-Linked Rate of Return equal to the Growth Cap Rate. If the Index has negative performance, the Index-Linked Rate of Return will be 0% unless the Index performance goes below -25% for the Segment Term. In that case only the negative performance in excess of -25% will be applied to the Segment Account Value and you bear the entire risk of loss of principal and previously credited interest for the portion of negative performance that exceeds -25%. Please see “Index-Linked Return” in “Description of the Market Stabilizer Option^®” in this Prospectus.

Please note that you will not be credited with any positive Index performance with respect to amounts that are removed from a Segment prior to the Segment Maturity Date. Even when the Index performance has been positive, such Early Distributions will cause you to lose some principal and previously credited interest. Please see “Early Distribution Adjustment” in this Prospectus.

Although under the variable life insurance policy, we reserve the right to apply a transfer charge up to $25 for each transfer among your investment options, there are no transfer

charges for transfers into or out of the MSO Holding Account. Please note that once policy account value has been swept from the MSO Holding Account into a Segment, transfers into or out of that Segment before its Segment Maturity Date will not be permitted. In addition, you cannot take a partial withdrawal from amounts transferred into a Segment before a Segment Maturity Date.

Among the many terms associated with the Market Stabilizer Option^® are:

•

Index-Linked Return for approximately a one year period tied to the performance of the S&P 500 Price Return index, which excludes dividends as described below.

•

Index-Linked Return will be applied at the end of the period (your Segment Term) on the Segment Maturity Date and only to amounts remaining within the segment until the Segment Maturity Date. The Index-Linked Return will not be applied before the Segment Maturity Date.

• The Index-Linked Return could be positive, zero or in certain circumstances negative as described below. In the event that the S&P 500 Price Return index sustains a 100% loss, the maximum loss of principal and previously credited interest would be 9075% and previously credited interest. Therefore, there is the possibility of a negative return on this investment at the end of your Segment Term, which could result in a significant loss of principal and previously credited interest.

• An Early Distribution Adjustment ~~will~~on beEarly ~~made~~Distributions ~~for distributions~~ (including ~~deductions) from the Segment Account Value before the Segment Maturity Date. Any Early Distribution Adjustment that is made will cause you to lose principal through the application of~~ a ~~Put~~requested ~~Option~~loan ~~Factor~~payment, ~~as explained later in this Prospectus~~surrender, ~~and~~exercise that loss could potentially be substantial. Therefore you should carefully consider whether to make such distributions and/or maintain enough value in your Unloaned Guaranteed Interest Option (“Unloaned GIO”) and/or variable investment options to cover your monthly deductions. The Unloaned GIO is the portion of ~~the~~certain ~~Guaranteed Interest Option (“GIO”~~riders) ~~that is not being held to secure policy loans you have taken. As described later in this Prospectus, we~~ will ~~attempt~~be tomade ~~maintain~~from athe ~~reserve~~Segment ~~(Charge~~Account ~~Reserve~~Value ~~Amount)~~before ~~to cover your monthly deductions, but it is possible that~~ the ~~Charge~~Segment ~~Reserve~~Maturity ~~Amount will be insufficient to cover your monthly deductions~~Date.

~~These~~• ~~are~~Any ~~only~~Early ~~some~~Distribution ofAdjustment ~~the~~that ~~terms~~is ~~associated~~made ~~with~~will ~~the~~cause ~~Market~~you ~~Stabilizer~~to ~~Option®.~~lose ~~Please~~principal ~~read~~and ~~this~~previously ~~Prospectus~~credited ~~for~~interest ~~more~~through ~~details about~~ the ~~Market~~application ~~Stabilizer~~of a Put Option®. ~~Also~~Factor, ~~this Prospectus must be read along with the appropriate variable life insurance policy prospectus~~ as ~~well~~explained asin ~~the appropriate variable life insurance policy and policy rider for~~ this ~~option. Please refer to page 5 of this~~ Prospectus, ~~for~~and ~~a Definitions section~~ that ~~discusses~~loss ~~these~~could ~~and~~potentially ~~other~~be ~~terms associated with the Market Stabilizer Option®~~substantial. ~~Please~~Therefore ~~refer to page 8 of this Prospectus for a discussion of risk factors.~~ you

The SEC has not approved or disapproved these securities or determined if this Prospectus is accurate or complete. Any representation to the contrary is a criminal offense. The policies are not insured by the FDIC or any other agency. They are not deposits or other obligations of any bank and are not bank guaranteed. They are subject to investment risks and possible loss of principal and previously credited interest.

EVM-109 (5/25)

Cat # 145364 (5/25)

#867120

NB/IF IL 99, IL 2000, IL Plus, IL Optimizer, IL Optimizer II, COIL, COIL IS (Series 160), COIL IS (Series 162) (EFLIC only); IL Optimizer III, IL Legacy II, IL Legacy III, VUL Optimizer (Series 160), VUL Optimizer (Series 166), VUL Legacy, VUL Incentive Life Protect (EFLIC/EFLOA)

should carefully consider whether to make such distributions and/or maintain enough value in your Unloaned Guaranteed Interest Option (“Unloaned GIO”) and/or variable investment options to cover your monthly deductions. The Unloaned GIO is the portion of the Guaranteed Interest Option (“GIO”) that is not being held to secure policy loans you have taken. As described in this Prospectus, we will attempt to maintain a reserve (Charge Reserve Amount) to cover your monthly deductions, but it is possible that the Charge Reserve Amount will be insufficient to cover your monthly deductions.

•

The Company’s obligations under the MSO are subject to its creditworthiness and claims paying ability.

•

Index-linked investment options such as the MSO are complex insurance and investment options, and you should speak with a financial professional about the MSO’s features, benefits, risks, and fees, and whether the MSO is appropriate for you based upon your financial situation and objectives.

These are only some of the terms associated with the Market Stabilizer Option^®. Please read this Prospectus for more details about the Market Stabilizer Option^®. Also, this Prospectus must be read along with the appropriate variable life insurance policy prospectus as well as the appropriate variable life insurance policy and policy rider for this option. Please refer to page 5 of this Prospectus for a Definitions section that discusses these and other terms associated with the Market Stabilizer Option^®. Please refer to page 9 of this Prospectus for a discussion of risk factors.

Other policies. We offer a variety of fixed and variable life insurance policies which offer policy features, including investment options, that are different from those offered by this Prospectus. Not every policy or feature is offered through your financial professional. You can contact us to find out more about any other insurance policy.

~~What~~The Market Stabilizer Option® is not sponsored, endorsed, sold or promoted by Standard & Poor’s (“S&P”) or its third party licensors. Neither S&P nor its third party licensors makes any representation or warranty, express or implied, to the owners of the Market Stabilizer Option®? or any member of the public regarding the advisability of investing in securities generally or in the Market Stabilizer Option® particularly or the ability of the S&P 500 Price Return index (the “Index”) to track general stock market performance. S&P’s and its third party licensor’s only relationship to the Company is the licensing of certain trademarks and trade names of S&P and the third party licensors and of the Index which is determined, composed and calculated by S&P or its third party licensors without regard to the Company or the Market Stabilizer Option®. S&P and its third party licensors have no obligation to take the needs of the Company or the owners of the Market Stabilizer Option® into consideration in determining, composing or calculating the Index. Neither S&P nor its third party licensors is responsible for and has

~~The Market Stabilizer~~ ~~Option®~~not ~~(“MSO”)~~participated ~~is an investment option available under certain variable life insurance policies. The option provides for participation~~ in the ~~performance~~determination of the ~~S&P~~prices 500 Price Return index, which excludes dividends (the “Index”) up to the Growth Cap Rate that we set on the Segment Start Date. While the Growth Cap Rate is set at the Company’s sole discretion, the Growth Cap Rate will not change during a Segment Term and ~~the~~amount ~~Growth Cap Rate will always be at least 6%. On the Segment Maturity Date, we will apply the Index-Linked Rate~~ of ~~Return to~~ the ~~Segment~~Market ~~Account~~Stabilizer ~~Value based~~Option® on or the ~~performance~~timing of the ~~Index.~~issuance Ifor ~~the~~sale ~~performance~~ of the ~~Index~~Market ~~has~~Stabilizer ~~been~~Option® ~~positive~~or ~~for~~in the ~~Segment~~determination ~~Term and equal to~~ or ~~below~~calculation ~~the~~of ~~Growth Cap Rate, we will apply to~~ the ~~Segment~~equation ~~Account~~by ~~Value~~which ~~an Index-Linked Rate of Return equal to~~ the ~~full~~Market ~~Index~~Stabilizer ~~performance.~~Option® Ifis ~~the~~to ~~performance~~be ofconverted ~~the~~into ~~Index~~cash. S&P has ~~been~~no ~~positive~~obligation ~~for~~or ~~the~~liability ~~Segment~~in ~~Term~~connection ~~and~~with ~~above~~ the ~~Growth Cap Rate~~administration, wemarketing ~~will~~or ~~apply~~trading ~~an Index-Linked Rate~~ of ~~Return equal to the Growth Cap Rate. If the Index has negative performance, the~~ ~~Index-Linked Rate of Return will be 0% unless~~ the ~~Index~~Market ~~performance~~Stabilizer ~~goes below -10% for the Segment Term~~Option®. ~~In that case only the~~

The SEC has not approved or disapproved these securities or determined if this Prospectus is accurate or complete. Any representation to the contrary is a criminal offense. The contracts are not insured by the FDIC or any other agency. They are not deposits or other obligations of any bank and are not bank guaranteed. They are subject to investment risks and possible loss of principal.

EVM-109 (5/21) Cat # 65435

negative performance in excess of -10% will be applied to the Segment Account Value and you bear the entire risk of loss of principal for the portion of negative performance that exceeds -10%. Please see “Index-Linked Return” in “Description of the Market Stabilizer Option®” later in this Prospectus.

Please note that you will not be credited with any positive Index performance with respect to amounts that are removed from a Segment prior to the Segment Maturity Date. Even when the Index performance has been positive, such early removals will cause you to lose some principal. Please see “Early Distribution Adjustment” later in this Prospectus.

Although under the appropriate variable life insurance policy, we reserve the right to apply a transfer charge up to $25 for each transfer among your investment options, there are no transfer charges for transfers into or out of the MSO Holding Account. Please note that once policy account value has been swept from the MSO Holding Account into a Segment, transfers into or out of that Segment before its Segment Maturity Date will not be permitted.

The Market Stabilizer Option® is not sponsored, endorsed, sold or promoted by Standard & Poor’s (“S&P”) or its third party licensors. Neither S&P nor its third party licensors makes any representation or warranty, express or implied, to the owners of the Market Stabilizer Option® or any member of the public regarding the advisability of investing in securities generally or in the Market Stabilizer Option® particularly or the ability of the S&P 500 Price Return index (the “Index”) to track general stock market performance. S&P’s and its third party licensor’s only relationship to the Company is the licensing of certain trademarks and trade names of S&P and the third party licensors and of the Index which is determined, composed and calculated by S&P or its third party licensors without regard to the Company or the Market Stabilizer Option®. S&P and its third party licensors have no obligation to take the needs of the Company or the owners of the Market Stabilizer Option® into consideration in determining, composing or calculating the Index. Neither S&P nor its third party licensors is responsible for and has not participated in the determination of the prices and amount of the Market Stabilizer Option® or the timing of the issuance or sale of the Market Stabilizer Option® or in the determination or calculation of the equation by which the Market Stabilizer Option® is to be converted into cash. S&P has no obligation or liability in connection with the administration, marketing or trading of the Market Stabilizer Option®.

Contents of this Prospectus

Market Stabilizer Option^®

The Company		4
1. Definitions		5
2. Fee Table Summary		7
2. Key Features of the Market Stabilizer Option®		7
3. Risk Factors		8
3. Fee Table Summary		8
COVID-19		9
4. Risk Factors		9
Cybersecurity risks and catastrophic events		9
Business disruption and cybersecurity risks		10
4. Description of the Market Stabilizer Option®		10
5. Description of the Market Stabilizer Option®		12
5. Distribution of the policies		20
MSO Holding Account		12
6. Additional Information		21
Segments		12
Segment maturity		13
Growth Cap Rate		13
Index-Linked Return		14
Change in Index		14
Charges		15
Charge Reserve Amount		15
How we deduct policy monthly charges during a Segment Term		15
Early Distribution Adjustment		16
6. Distribution of the policies		23
7. Additional Information		24
8. Incorporation of certain documents by reference		25
Appendices
Policy/rider variations		26
Early Distribution Adjustment Examples		27

				Policy/rider variations		22
				Early Distribution Adjustment Examples		23
				Information about Equitable Financial Life Insurance Company of America

When we address the reader of this Prospectus with words such as “you” and “your,” we mean the person who has the right or responsibility that the Prospectus is discussing at that point. This is usually the policy owner.

The Company

~~We are~~ Equitable Financial Life Insurance Company of America, is an Arizona stock life insurance corporation organized in 1969. with ~~The~~an ~~Company~~administrative isoffice anlocated ~~affiliate~~at of8501 ~~Equitable~~IBM ~~Financial~~Drive, Suite 150 - Life ~~Insurance~~Operations ~~Company~~Center, ~~and~~Charlotte, anNC ~~indirect~~28262-4333. ~~wholly~~Equitable ~~owned~~Financial ~~subsidiary~~Life ofInsurance ~~Equitable~~Company ~~Holdings,~~is ~~Inc.~~a NoNew ~~other~~York ~~company~~stock ~~has~~life ~~any~~insurance ~~legal~~corporation ~~responsibility~~doing tobusiness ~~pay~~since ~~amounts~~1859 ~~that~~with ~~the~~its home ~~Company~~office ~~owes~~located ~~under~~at 1345 Avenue of the ~~policies.~~ ~~The~~Americas, ~~Company~~New isYork, ~~solely~~NY ~~responsible~~10105. ~~for~~We ~~paying~~are ~~all~~indirect ~~amounts~~wholly ~~owed~~owned tosubsidiaries ~~you~~of ~~under~~Equitable ~~your~~Holdings, ~~policy~~Inc.

~~Equitable~~We ~~Holdings,~~are ~~Inc.~~licensed ~~and~~to ~~its~~sell ~~consolidated~~life ~~subsidiaries~~insurance ~~managed~~and ~~approximately~~annuities ~~$ billion~~ in ~~assets~~all asfifty ofstates ~~December 31,~~(except ~~2020.~~Equitable ~~The~~Financial ~~Company~~Life isInsurance ~~licensed~~Company ~~to sell~~of ~~life~~America ~~insurance~~is ~~and~~not ~~annuities~~licensed in ~~forty-nine~~the ~~states~~state ~~(not including~~ of New York), the District of Columbia, ~~and~~ Puerto Rico, and the U.S. Virgin Islands. ~~Our~~No ~~main~~other ~~administrative~~company ~~office~~has any legal responsibility to pay amounts that the Company owes under the policies. The Company is ~~located~~solely atresponsible ~~525~~for ~~Washington~~paying ~~Boulevard,~~all ~~Jersey~~amounts ~~City,~~owed to you ~~NJ 07310~~under the policy, subject to our financial strength and claims-paying ability.

If necessary, we rely on the exemption from the reporting requirements of Section 15(d) of the Securities Exchange Act of 1934, as amended (the “1934 Act”), provided by Rule 12h-7 under the 1934 Act with respect to registered non-variable insurance contracts (such as index-linked investment options and fixed investment options subject to a market value adjustment) that we issue.

How to reach us

Please refer to the “How to reach us” section of the ~~appropriate~~ variable life insurance policy prospectus for more information regarding contacting us and communicating your instructions. We also have specific forms that we recommend you use for electing the MSO and any MSO transactions.

1. Definitions

~~Charge~~Cash ~~Reserve Amount~~Surrender Value — Athe ~~minimum~~cash ~~amount~~surrender ~~of policy account~~ value ~~in the Unloaned GIO (the portion of the Guaranteed Interest Option (“GIO”) that~~ is ~~not~~equal ~~being held~~ to ~~secure~~ ~~policy loans you have taken.) that you are required to maintain in order to approximately cover all of~~ the ~~estimated~~difference ~~monthly~~between ~~charges~~your ~~for the~~ policy ~~(including,~~account ~~but~~value ~~not limited to, the policy’s monthly cost of insurance charge, the policy’s monthly administrative charge, the policy’s monthly mortality~~ and ~~expense risk charge, the MSO’s monthly Variable Index Segment Account Charge (the monthly charge deducted from the policy account) and~~ any ~~monthly~~surrender ~~optional rider~~ charges, ~~(please~~that ~~see~~are ~~“Charges” later~~ in ~~this~~effect ~~Prospectus~~under ~~for~~your ~~more information) during the Segment Term~~policy. The ~~Charge Reserve Amount will be determined on each~~ Segment ~~Start~~Distribution ~~Date~~Value ~~as an amount projected to be sufficient to cover all of the policy’s monthly deductions during the Segment Term, assuming at the time such calculation~~ is ~~made~~used ~~that no interest or investment performance is credited~~ to ordetermine ~~charged against~~ the ~~policy account and that no policy changes or additional~~ premium payments are made. The Charge Reserve Amount will be reduced by each subsequent monthly deduction (but not to less than zero). There is no requirement to maintain a Charge Reserve Amount, which would cover approximately all estimated monthly policy ~~charges, if you are not in a Segment. Please see “Segments” later in this Prospectus for more information about the investment options from which~~ account value ~~could~~for ~~be transferred to the Unloaned GIO on a Segment Start Date in order to meet~~ this ~~requirement~~purpose.

~~Downside~~Company ~~Protection~~— ~~(also~~Refers ~~referred~~ to inEquitable ~~your~~Financial ~~policy~~Life asInsurance ~~the~~Company ~~“Segment~~of ~~Loss~~America ~~Absorption~~(“Equitable ~~Threshold Rate~~America”) —or ~~This~~Equitable isFinancial ~~your~~Life ~~protection~~Insurance ~~against~~Company ~~negative~~(“Equitable ~~performance~~Financial”). ofThe ~~the~~terms “we”, ~~S&P~~“us”, ~~500~~and ~~Price~~“our” ~~Return~~are ~~index~~also ~~for~~used ato ~~Segment~~identify ~~held~~the ~~until~~issuing ~~its~~Company. ~~Segment~~Equitable ~~Maturity~~America ~~Date.~~does ~~It is~~not ~~currently~~do ~~-10%.~~business ~~The~~or ~~Downside~~issue ~~Protection~~policies isin ~~set~~the onstate ~~the~~of ~~Segment~~New ~~Start~~York. ~~Date~~Generally, ~~and~~Equitable ~~any~~America ~~Downside~~will ~~Protection~~issue policies in ~~excess~~all ofstates except ~~-10%~~New ~~will~~York beand ~~set~~Equitable atFinancial ~~the~~will ~~Company’s~~issue ~~sole~~policies ~~discretion~~in New York. However, ~~the~~if ~~Downside~~any ~~Protection~~selling ~~will~~agent ~~not~~is ~~change~~an ~~during~~Equitable aAdvisors ~~Segment Term~~financial ~~and~~professional atwhose ~~least~~business ~~-10%~~address is in the state of ~~Downside~~New ~~Protection~~York, ~~will~~the ~~always~~issuing Company will be ~~provided~~Equitable Financial, ~~when~~even aif ~~Segment~~the policy is ~~held~~issued ~~until~~in ~~the~~a ~~Segment~~state ~~Maturity~~other ~~Date~~than New York.

~~Early~~Charge ~~Distribution~~Reserve ~~Adjustment~~Amount ~~(“EDA,”~~— ~~may~~A ~~also~~minimum beamount ~~referred~~of topolicy account value in ~~your~~the Unloaned GIO ~~policy~~(the asportion of the ~~“Market~~Guaranteed ~~Value~~Interest ~~Adjustment~~Option (“GIO”) —that ~~The~~is ~~EDA~~not isbeing anheld ~~adjustment~~to secure policy loans you have taken) that weyou ~~make~~are required to ~~your~~maintain ~~Segment~~in ~~Account~~order ~~Value~~to approximately cover all of the estimated monthly charges for the policy (including, ~~before~~but anot ~~Segment~~limited ~~matures~~to, inthe policy’s monthly cost of insurance charge, the ~~event you~~policy’s ~~surrender~~monthly ~~your~~administrative charge, the policy’s monthly mortality and expense risk charge, ~~take~~the aMSO’s ~~loan~~monthly ~~from~~Variable aIndex Segment orAccount Charge if(the wemonthly ~~should~~charge ~~find~~deducted itfrom ~~necessary~~the topolicy ~~make~~account) ~~deductions~~and ~~for~~any monthly optional rider charges, or(please ~~any~~see ~~other~~“Charges” ~~distribution~~in ~~from~~this aProspectus for more information) during the Segment Term. ~~(Such~~The ~~other~~Charge ~~distributions~~Reserve ~~would~~Amount ~~include~~will ~~any~~be ~~distributions~~determined ~~from~~on each ~~the~~Segment ~~policy~~Start ~~that we~~Date ~~deem~~as ~~necessary~~an amount projected to ~~continue~~be sufficient to ~~qualify~~cover all of the policy’s asmonthly ~~life~~deductions ~~insurance~~during ~~under~~the ~~applicable~~Segment ~~tax law~~Term, ~~any~~assuming ~~unpaid~~at ~~loan~~the time such calculation is made that no interest, or ~~any~~investment ~~distribution~~performance inis ~~connection~~credited ~~with~~to ~~the~~or charged ~~exercise~~against ofthe apolicy ~~rider~~account ~~available~~and ~~under~~that ~~your~~no policy.) Anchanges ~~EDA~~or ~~that~~additional ispremium payments are made. The Charge Reserve Amount will ~~cause~~be reduced by each subsequent monthly deduction (but not to less than zero). There is no requirement to maintain a Charge Reserve Amount, which would cover approximately all estimated monthly policy charges, if you toare ~~lose~~not ~~principal~~in ~~through~~a Segment. Please see “Segments” in this Prospectus for more information about the investment options from which account value could be transferred to the Unloaned GIO on a Segment Start Date in order to meet this requirement.

~~application~~Downside ofProtection a(also ~~Put~~referred ~~Option~~to ~~Factor,~~in ~~which~~your ~~estimates~~policy ~~the~~as ~~market value, at~~ the ~~time~~“Segment ofLoss Absorption anThreshold ~~early~~Rate”) ~~distribution,~~— ofThis ~~the~~is ~~risk~~your ~~that~~protection ~~you~~against ~~would~~negative ~~suffer~~performance aof ~~loss~~the ifS&P ~~your~~500 ~~Segment~~Price ~~were~~Return ~~continued~~index ~~(without~~for ~~taking the~~a ~~early~~Segment ~~distribution)~~held until its Segment Maturity Date. ~~and~~It ~~that~~is ~~loss~~currently ~~could be substantial~~-25%. The ~~EDA~~Downside ~~will~~Protection ~~usually~~is ~~result~~set inon athe ~~reduction in your~~ Segment ~~Account~~Start ~~Value~~Date and ~~your~~any ~~other~~Downside ~~policy~~Protection ~~values.~~in ~~Therefore,~~excess ~~you~~of ~~should~~-25% ~~give~~will ~~careful~~be ~~consideration~~set at ~~before~~the ~~taking~~Company’s ~~any~~sole ~~early~~discretion. ~~loan or surrender~~However, ~~or allowing~~ the ~~value~~Downside inProtection ~~your~~will ~~other~~not ~~investment~~change ~~options~~during ~~to fall so low that we must make any monthly deduction from~~ a Segment. ~~Please~~Term ~~see~~and ~~“Early~~at ~~Distribution~~least ~~Adjustment”~~-25% ~~later in this Prospectus~~of ~~for more information.~~ Down-

side Protection will always be provided when a Segment is held until the Segment Maturity Date.

Early Distribution — a requested loan payment, surrender, deduction for monthly charges (if amounts are not available from the variable investment options or unloaned GIO) or other distribution from a Segment made prior to the Segment Maturity Date. Such other distributions would include any distributions from the policy that we deem necessary to continue to qualify the policy as life insurance under applicable tax law, any unpaid loan interest, or any distribution in connection with the exercise of a rider available under your policy. Payment of death benefit proceeds is not an Early Distribution.

Early Distribution Adjustment (“EDA,” may also be referred to in your policy as the “Market Value Adjustment”) — An adjustment that we make to your Segment Account Value, in the event of an Early Distribution. An EDA that is made will cause you to lose principal and previously credited interest through the application of a Put Option Factor, which estimates the market value, at the time of an Early Distribution, of the risk that you would suffer a loss if your Segment were continued (without taking the Early Distribution) until its Segment Maturity Date and that loss could be substantial. The EDA will usually result in a reduction in your Segment Account Value and your other policy values. Therefore, you should give careful consideration before taking any early loan or surrender, or allowing the value in your other investment options to fall so low that we must make any monthly deduction from a Segment. Please see “Early Distribution Adjustment” in this Prospectus for more information.

Growth Cap Rate — The maximum rate of return that will be applied to a Segment Account Value. The Growth Cap Rate is set for each Segment on the Segment Start Date. While the Growth Cap Rate is set at the Company’s sole discretion, the Growth Cap Rate will not change during a Segment Term and the Growth Cap Rate will always be at least 6%.

Index — The S&P 500 Price Return index, which is the S&P 500 index excluding dividends. This index includes 500 leading companies in leading industries in the U.S. economy.

Index Performance Rate — The Index Performance Rate measures the percentage change in the Index during a Segment Term for each Segment. If the Index is discontinued or if the calculation of the Index is substantially changed, we reserve the right to substitute an alternative index. We also reserve the right to choose an alternative index at our discretion. Please see “Change in Index” for more information.

The Index Performance Rate is calculated by ((b) divided by (a)) minus one, where:

(a)	is the value of the Index at the close of business on the Segment Start Date, and

(b)	is the value of the Index at the close of business on the Segment Maturity Date.

We determine the value of the Index at the close of business, which is the end of a business day. Generally, a business day is any day the New York Stock Exchange is open for trading. If the New York Stock Exchange is not open for trading or if the Index value is, for any other reason, not published on the Segment Start Date or a Segment Maturity Date, the value of the Index will be determined as of the end of the most recent preceding business day for which the Index value is published.

Index-Linked Rate of Return — The rate of return we apply to calculate the Index-Linked Return which is based on the Index Performance Rate adjusted to reflect the Growth Cap Rate and protection against negative performance. Therefore, if the performance of the Index is zero or positive, we will apply that performance up to the Growth Cap Rate. If the performance of the Index is negative, we will apply performance of zero unless the decline in the performance of the Index is below -25% in which case negative performance in excess of -25% will apply. Please see the chart under “Index-Linked Return” for more information.

of the Index is negative, we will apply performance of zero unless the decline in the performance of the Index is below -10% in which case negative performance in excess of -10% will apply. Please see the chart under “Index-Linked Return” for more information.

Index-Linked Return — The amount that is applied to the Segment Account Value on the Segment Maturity Date that is equal to that Segment’s Index-Linked Rate of Return multiplied by the Segment Account Value on the Segment Maturity Date. The Index-Linked Return may be positive, negative or zero. The Indexed-Linked Return is only applied to amounts that remain in a Segment Account Value until the Segment Maturity Date. For example, a surrender of your policy before Segment maturity will eliminate any Index-Linked Return and be subject to an Early Distribution Adjustment.

Initial Segment Account — The amount initially transferred to a Segment from the MSO Holding Account on its Segment Start Date, net of:

(a) the Variable Index Benefit Charge (see “Charges” ~~later~~ in this Prospectus)

and

(b) the amount, if any, that may have been transferred from the MSO Holding Account to the Unloaned GIO to cover the Charge Reserve Amount (see “Charge Reserve Amount” ~~later~~ in this Prospectus). Such a transfer would be made from the MSO Holding Account to cover the Charge Reserve Amount only (1) if you have given us instructions to make such a transfer or (2) in the other limited circumstances described under “Segments” ~~later~~ in this Prospectus.

MSO Holding Account — This is a portion of the EQ/Money Market variable investment option that holds amounts designated by the policy owner for investment in the MSO prior to any transfer into the next available new Segment.

Net Cash Surrender Value — The net cash surrender value equals your policy account value, minus any outstanding loan and unpaid loan interest, minus any amount of your policy account value that is “restricted” as a result of previously distributed terminal illness living benefits, and further reduced for

any monthly benefit payments under the Long-Term Care Services^SM Rider, and minus any surrender charge that then remains applicable. For this purpose, the Segment Distribution Value is used to calculate the policy account value.

Policy Account Value — Your “policy account value” is the total of (i) your amounts in our variable investment options, (ii) your amounts in our guaranteed interest option (other than amounts included in (iii)) and (iii) any amounts that we are holding to secure policy loans that you have taken (including any interest on those amounts which has not yet been allocated to the investment options). The account value (Segment Account Value or Segment Distribution Value) of any policy amounts transferred to the MSO is also included in your policy account value. See definitions of “Segment Account Value” and “Segment Distribution Value” for additional detail regarding the calculation of the policy account value when there are assets invested in the MSO.

Segment — The portion of your total investment in the MSO that is associated with a specific Segment Start Date. You create a new Segment each time an amount is transferred from the MSO Holding Account into a Segment Account.

Segment Account Value (also referred to in your policy as the “Segment Account”) — The amount of an Initial Segment Account subsequently reduced by any ~~monthly~~Early deductions, policy loans and unpaid loan interest, and distributions from the policy that we deem necessary to continue to qualify the policy as life insurance under applicable tax law, which are allocated to the SegmentDistribution. Any such reduction in the Segment Account Value prior to its Segment Maturity Date will result in a corresponding Early Distribution Adjustment, which will cause you to lose principal and previously credited interest, and that loss could be substantial. The Segment Account Value is used in determining policy account values, death benefits, and the net amount at risk for monthly cost of insurance calculations of the policy and the new base policy face amount associated with a requested change in death benefit option.

Segment Distribution Value (also referred to in your policy as the “Segment Value”) — This is the Segment Account Value minus the Early Distribution Adjustment that would apply on a full surrender of that Segment at any time prior to the Segment Maturity Date. Segment Distribution Values will be used in determining policy value available to cover monthly deductions, any applicable proportionate surrender charges for requested face amount reductions, and other distributions; cash surrender values and maximum loan values subject to any applicable base policy surrender charge. They will also be used in determining whether any outstanding policy loan and accrued loan interest exceeds the policy account value.

Segment Maturity GIO Limitation — A specified percentage limitation on the amount of your Segment Maturity Value that may be allocated to the guaranteed interest option. The Company reserves the right to implement a specified percentage limitation on the amount of your Segment Maturity Value that may be allocated to the guaranteed interest option. The specified percentage limitation can be changed at anytime, but it will never be less than 5% of your Segment Maturity Value. We will transfer any portion of your Segment Maturity Value that is allocated to the guaranteed interest option in excess of the Segment Maturity GIO Limitation to the EQ/Money Market variable investment option unless we receive your instructions prior to the Segment Maturity Date that the Segment Maturity Value should be allocated to the MSO Holding Account or to any other available variable investment option. See Appendix “Policy/rider variations” for more information.

Segment Maturity Date — The date on which a Segment Term is completed and the Index-Linked Return for that Segment is applied to a Segment Account Value.

Segment Maturity Value — This is the Segment Account Value adjusted by the Index-Linked Return for that Segment.

Segment Start Date — The Segment Start Date is the day on which a Segment is created.

Segment Term — The duration of a Segment. The Segment Term for each Segment begins on its Segment Start Date and ends on its Segment Maturity Date one year later. We are currently only offering Segment Terms of approximately one year. We may offer different durations in the future.

2. ~~Fee~~Key ~~Table~~Features ~~Summary~~of the Market Stabilizer Option®

MSO Charges	When Charge is Deducted	Current Non-guaranteed	GuaranteedMaximum
Variable Index Benefit Charge(1)	On Segment Start Date	0.0%	0.0%
Variable Index Segment Account Charge(1)	At the beginning of each policy month during the Segment Term	0.40%	1.65%
Total		0.40%	1.65%

•

The Market Stabilizer Option^® (“MSO”) is an investment option available under the policy. The option provides for participation in the performance of the S&P 500 Price Return index, which excludes dividends (the “Index”).

Other		When Charge is Deducted		Maximum Spread Percentage that May be Deducted
Loan Interest Spread(2) for Amounts of Policy Loans Allocated to MSO Segment		On each policy anniversary (or on loan termination, if earlier)		5%

•

We currently only offer Segment Terms of approximately one year. We may offer different durations in the future.

Other		When Charge is Deducted		Maximum Amount that May be Deducted
Early Distribution Adjustment		On surrender or other distribution (including loan) from an MSO Segment prior to its Segment Maturity Date		90% of Segment Account Value(3)

•

The Growth Cap Rate for each Segment is set at the Company’s sole discretion on or before the Segment Start Date. The Growth Cap Rate will not change during a Segment Term and the Growth Cap Rate will always be at least 6%. You may set a minimum Growth Cap Rate that is acceptable to you.

•

On the Segment Maturity Date, we will apply the Index-Linked Rate of Return to the Segment Account Value based on the performance of the Index. If the performance of the Index has been positive for the Segment Term and equal or below the Growth Cap Rate, we will apply to the Segment Account Value an Index-Linked Rate of Return equal to the full Index performance. If the performance of the Index has been positive for the Segment Term and above the Growth Cap Rate, we will apply an Index-Linked Rate of Return equal to the Growth Cap Rate.

•

The downside protection is 25%. Accordingly, if the Index has negative performance, the Index-Linked Rate of Return will be 0% unless the Index performance goes below -25% for the Segment Term. In that case, only the negative performance in excess of -25% will be applied to the Segment Account Value and you bear the entire risk of loss of principal and previously credited interest for the portion of negative performance that exceeds -25%. You could lose 75% of principal and any previously credited interest.

•

An Early Distribution Adjustment on Early Distributions will be made from the Segment Account Value before the Segment Maturity Date. Any Early Distribution Adjustment will cause you to lose up to 75% of principal and previously credited interest even if the Index has experienced positive performance since the Segment Start Date, and this loss may be substantial. You will also forfeit any positive Index performance and could be subject to surrender charges and tax consequences may apply.

•

Once policy account value is in a Segment, you cannot transfer out of or take a partial withdrawal from a Segment prior to the Segment Maturity Date.

•

We reserve the right to substitute an alternative index for the S&P 500 Price Return index, which could reduce the Growth Cap Rates we can offer. If we were to substitute an alternative index at our discretion, we would provide notice 45 days before making that change. The new index would only apply to new Segments. Any outstanding Segments would mature on their original Segment Maturity Dates.

•

Please see “Fee Table” for complete detail on fees and charges.

3. Fee Table Summary


MSO Charges	When Charge is Deducted	Guaranteed Maximum
Variable Index Benefit Charge⁽¹⁾	On Segment Start Date	0.75%
Variable Index Segment Account Charge⁽¹⁾	At the beginning of each policy month during the Segment Term	1.65%⁽²⁾
Total		2.40%
Mortality and Expense Risk Charge⁽³⁾	Monthly	Policy Year	Annual % of your value in the MSO
		1-10	1.00%
		11+	0.50%

Other

When Charge is Deducted

Maximum Spread

Percentage that May

be Deducted

Loan Interest Spread⁽⁴⁾ for Amounts of Policy Loans Allocated to MSO Segment

On each policy anniversary (or on loan termination, if earlier)

New York policies (and OR for certain products): 2%

All other policies: 5%

Other

When Charge is Deducted

Maximum Amount

that May be

Deducted

Early Distribution Adjustment

On Early Distribution

75% of Segment Account Value⁽⁵⁾

(1)	These charges represent annual rates.

(2) ~~We charge interest on policy loans but credit you with interest on the amount of the policy account value we hold as collateral for the loan.~~ The ~~“spread”~~current isnon-guaranteed ~~the difference between the interest~~ rate weis ~~charge~~provided ~~you~~in ~~on a policy loan and~~ the ~~interest~~applicable ~~rate~~variable welife ~~credit~~insurance ~~to you on the amount of your~~ policy ~~account value that we hold as collateral for the loan~~prospectus.

(3) The ~~actual~~base ~~amount~~variable oflife aninsurance ~~Early~~policy’s ~~Distribution~~mortality ~~Adjustment~~and isexpense ~~determined~~risk bycharge awill ~~formula~~also ~~that~~apply ~~depends~~to ~~on,~~a ~~among~~Segment ~~other~~Account ~~things,~~Value ~~how~~or ~~the~~any ~~Index~~amounts ~~has~~held ~~performed~~in ~~since~~ the ~~Segment~~MSO ~~Start~~Holding ~~Date,~~Account. asAmounts ~~discussed~~ in ~~detail~~the ~~under~~MSO ~~“Early~~Holding ~~Distribution~~Account ~~Adjustment”~~reflect ~~later~~fees inand ~~this~~expenses ~~Prospectus.~~of ~~The~~the ~~maximum~~EQ/Money ~~amount~~Market ofPortfolio. ~~the~~Please ~~adjustment~~see ~~would~~“Charges” ~~occur~~in ifthis ~~there~~Prospectus isfor amore ~~total~~information. ~~distribution~~Please atrefer ato ~~time~~the ~~when~~appropriate ~~the~~variable ~~Index~~life ~~has~~insurance ~~declined~~policy toprospectus ~~zero~~for more information.

(4)

We charge interest on policy loans but credit you with interest on the amount of the policy account value we hold as collateral for the loan. The “spread” is the difference between the interest rate we charge you on a policy loan and the interest rate we credit to you on the amount of your policy account value that we hold as collateral for the loan.

(5)

The actual amount of an Early Distribution Adjustment is determined by a formula that depends on, among other things, how the Index has performed since the Segment Start Date, as discussed in detail under “Early Distribution Adjustment” in this Prospectus. The maximum amount of the adjustment would occur if there is a total distribution at a time when the Index has declined to zero.

This fee table applies specifically to the MSO and should be read in conjunction with the fee table in the appropriate variable life insurance policy prospectus.

The base variable life insurance policy’s mortality and expense risk charge will also apply to a Segment Account Value or any amounts held in the MSO Holding Account. The mortality and expense risk charge is part of the policy monthly charges. Please see “How we deduct policy monthly charges during a Segment Term” for more information. Please refer to the appropriate variable life insurance policy prospectus for more information.

Changes in charges

Any changes that we make in our current charges or charge rates will be on a basis that is equitable to all policies belonging to a given class, and will be determined based on reasonable assumptions as to expenses, mortality, investment income, lapses and policy ~~and contract~~ claims associated with morbidity. For the sake of clarity, the assumptions referenced above include taxes, the cost of hedging, longevity, volatility, other market conditions, surrenders, persistency, conversions, disability, accident, illness, inability to perform activities of daily living, and cognitive impairment, if applicable. Any changes in charges may apply to then in force policies, as well as to new policies. You will be notified in writing of any changes in charges under your policy.

7 8

34. Risk Factors

There are risks associated with some features of the Market Stabilizer Option^®:

• ~~There~~Because isthe aCompany ~~risk~~relies ofon a ~~substantial~~single ~~loss~~point ofin ~~your~~time ~~principal~~to ~~because~~calculate the Index return, you ~~agree~~may toexperience ~~absorb~~a ~~all~~negative ~~losses~~return ~~from~~on the ~~portion~~Segment ofMaturity ~~any~~Date ~~negative~~even if the Index ~~performance~~has ~~that~~experienced ~~exceeds~~gains ~~-10%~~through some, or most, of the Segment Term.

•

There is a risk of a substantial loss of your principal and previously credited interest because you agree to absorb all losses from the portion of any negative Index performance that exceeds -25%. You could lose 75% of principal and any previously credited interest.

•

Your Index-Linked Return is also limited by the Growth Cap Rate, which could cause your Index-Linked Return to be lower than it would otherwise be if you participated in the full performance of the S&P 500 Price Return index.

•

You will not know what the Growth Cap Rate is before the Segment starts. Therefore, you will not know in advance the upper limit on the return that may be credited to your investment in a Segment.

• Negative consequences apply if, for any reason, amounts you have invested in a Segment are removed before the Segment Maturity Date. Specifically, with respect to the amounts removed early, you would (1) forfeit any positive Index performance and (2) be subject to an Early Distribution Adjustment that exposes you to a risk of potentially substantial loss of principal and previously credited interest. This exposure is designed to be consistent with the treatment of losses on amounts held to the Segment Maturity Date. Even when the Index performance has been positive, the EDA will cause you to lose some principal and previously credited interest on an early removal. Surrender charges and tax consequences could also apply.

• The following types of removals (also referred to as Early Distributions) of account value from a Segment will result in the above-mentioned penalties to you, if the removals occur prior to the Segment Maturity Date: (a) a surrender of your policy; (b) a loan from your policy; (c) a distribution in order to enable your policy to continue to qualify as life insurance under the federal tax laws; (d) certain distributions in connection with the exercise of a rider available under your policy; and (e) a charge or unpaid policy loan interest that we deduct from your Segment Account Value because the Charge Reserve Amount and other funds are insufficient to cover them in their entirety. The Charge Reserve Amount may become insufficient because of policy changes that you request, additional premium payments, investment performance, policy loans, policy partial withdrawals from other ~~investment options besides the MSO, and any increases we make in current charges for the policy (including for the MSO and optional riders).~~

investment options besides the MSO, and any increases we make in current charges for the policy (including for the MSO and optional riders).

•

Certain of the above types of early removals can occur (and thus result in penalties to you) without any action on your part. Examples include (i) certain distributions we might make from your Segment Account Value to enable your policy to continue to qualify as life insurance and (ii) deductions we might make from your Segment Account Value to pay charges if the Charge Reserve Amount becomes insufficient.

• Any applicable EDA will generally be affected by changes in both the volatility and level of the S&P 500 Price Return Index. Any EDA applied to any Segment Account Value is linked to the estimated value of a put option on the S&P 500 Price Return index as described ~~later~~ in this Prospectus. The estimated value of the put option and, consequently, the amount of the EDA will generally be higher after increases in market volatility or after the Index experiences a negative return following the Segment Start Date.

•

Once policy account value is in a Segment, you cannot transfer out of a Segment and you can only make withdrawals out of a Segment if you surrender your policy. This would result in the imposition of any applicable surrender charges and EDA.

•

We may not offer new Segments so there is also the possibility that a Segment may not be available for a Segment Renewal at the end of your Segment Term(s).

•

We also reserve the right to substitute an alternative index for the S&P 500 Price Return index, which could reduce the Growth Cap Rates we can offer.

•

No company other than us has any legal responsibility to pay amounts that the Company owes under the policies. An owner should look to the financial strength of the Company for its claims-paying ability.

•

You do not have any rights in the securities underlying the index, including, but not limited to, (i) interest payments, (ii) dividend payments or (iii) voting rights.

•

Your Segment Maturity Value is dependent on the performance of the index on the Segment Maturity Date.

• Upon advance notification, the Company reserves the right to implement a Segment Maturity GIO Limitation

•

Past performance of the index is no indication of future performance.

•

The amounts required to be maintained in the Unloaned GIO for the Charge Reserve Amount during the Segment Term may earn a return that is less than the return you might have earned on those amounts in another investment option had you not invested in a Segment.

• You must forgo the additional no lapse guarantee benefit provided by the Extended No Lapse Guarantee Rider if you want to allocate to the MSO. Please see “Extended No Lapse Guarantee Rider” later in this Prospectus for more information.

• If you do not specify a minimum Growth Cap Rate acceptable to you, your account value could transfer into a Segment with a Growth Cap Rate that may be lower than what you would have chosen.

• The MSO is not available while the Paid Up Death Benefit Guarantee is in effect. Please see “Paid Up Death Benefit Guarantee” later in this Prospectus for more information.

• For certain variable life insurance policies, if a paid up death benefit guarantee is included with your policy, and if you elect the paid up death benefit guarantee while any Segment is in effect, all Segments will be terminated with corresponding Early Distribution Adjustments. If this occurs, the Segment Distribution Value will be used in place of the Segment Account Value in the calculation of your policy account value for purposes of determining the paid up death benefit guarantee face amount.

• If your policy has the Policy Continuation Rider, and your policy goes on Policy Continuation while you have amounts invested in MSO, you will forfeit any positive index performance and be subject to an Early Distribution Adjustment with respect to these amounts. In addition, MSO will no longer be available once you go on Policy Continuation. Please see “Policy Continuation” later in this Prospectus for more information.

• If you elect the Long-Term Care ServicesSM Rider, after a period of coverage ends before coverage is continued as a Nonforfeiture Benefit, if any MSO Segments are in effect, they will be terminated with corresponding early distribution adjustments. Please see “Long-Term Care ServicesSM Rider” later in this Prospectus for more information.

• If a Living Benefits Rider or an accelerated death benefit rider (which may be referred to as a “total and permanent disability accelerated death benefit rider” or a “limited life expectancy accelerated death benefit rider”) is included with your policy, the portion of the cash surrender value that is on lien and is allocated to your values in the variable investment options under your policy and investment in the MSO will be transferred to and maintained as part of the Unloaned GIO. Please see ”Living Benefits Rider” later in this Prospectus for more information.

COVID-19

The outbreak of the novel coronavirus known as COVID-19 was declared a pandemic by the World Health Organization in March 2020. Equity and financial markets have experienced increased volatility and negative returns, and interest rates have declined due to the COVID-19 pandemic and other market factors. Such events can adversely impact us and our operations. Management believes the Company is taking appropriate actions to mitigate the negative impact to our business and operations. However, the full impact of COVID-19 is unknown and cannot be reasonably estimated or predicted at this time as these events are still developing.

Moreover, these market conditions have impacted the performance of the Indices to which Segments are linked, as well as the funds underlying the variable investment options. If these market conditions continue, and depending on your individual circumstances (e.g., your selected investment options and the timing of any contributions, transfers, or withdrawals), you may experience (perhaps significant) negative returns under the

policy. The duration of the COVID-19 pandemic, and the future impact that the pandemic may have on the financial markets and global economy, cannot be foreseen, however. You should consult with a financial professional about how the COVID-19 pandemic and the recent market conditions may impact your future investment decisions related to the policy, such as purchasing the policy or making contributions, transfers, or withdrawals, based on your individual circumstances.

Cybersecurity risks and catastrophic events

We rely heavily on interconnected computer systems and digital data to conduct our variable product business. Because our variable product business is highly dependent upon the effective operation of our computer systems and those of our business partners, our business is vulnerable to disruptions from utility outages, and susceptible to operational and information security risks resulting from information systems failure (e.g., hardware and software malfunctions), and cyber-attacks. These risks include, among other things, the theft, misuse, corruption and destruction of data maintained online or digitally, interference with or denial of service, attacks on websites and other operational disruption and unauthorized use or abuse of confidential customer information. Systems failures and cyberattacks, as well as, any other catastrophic event, including natural and manmade disasters, public health emergencies, pandemic diseases, terrorist attacks, floods or severe storms affecting us, any third-party administrator, the underlying funds, intermediaries and other affiliated or third-party service providers may adversely affect us, our business operations and your account value. Systems failures and cyber-attacks may also interfere with our processing of contract transactions, including the processing of orders from our website or with the underlying funds, impact our ability to calculate account values, cause the release and possible destruction of confidential customer or business information, impede order processing, subject us and/or our service providers and intermediaries to regulatory fines and financial losses and/or cause reputational damage. In addition, the occurrence of any pandemic disease (like COVID-19), natural disaster, terrorist attack or any other event that results in our workforce, and/or employees of service providers and/or third party administrators, being compromised and unable or unwilling to fully perform their responsibilities, could likewise result in interruptions in our service, including our ability to issue contracts and process contract transactions. Even if our workforce and employees of our providers and/or third-party administrators were able to work remotely, those remote work arrangements could result in our business operations being less efficient than under normal circumstances and lead to delays in our issuing contracts and processing of other contract-related transactions. Cybersecurity risks and catastrophic events may also impact the issuers of securities in which the underlying funds invest, which may cause the funds underlying your contract to lose value. While there can be no assurance that we or the underlying funds or our service providers will avoid losses affecting your contract due to cyber-attacks, information security breaches or other catastrophic events in the future, we take reasonable steps to mitigate these risks and secure our systems and business operations from such failures, attacks and events.

4• If you do not specify a minimum Growth Cap Rate acceptable to you, your account value could transfer into a Segment with a Growth Cap Rate that may be lower than what you would have chosen. ~~Description~~If ofa minimum has been specified, account value could remain uninvested in the ~~Market~~MSO ~~Stabilizer Option®~~Holding Account until the next Segment Start Date, if any, where the Growth Cap Rate is at or above the minimum specified by you.

•

If you are invested in MSO, you may also elect the Asset Rebalancing Service, if offered under your policy. However, any amounts allocated to the MSO will not be included in the rebalance transactions. The investment options available to your Asset Rebalancing Service do not include the MSO Holding Account or Segments.

•

If an enhanced death benefit guarantee rider or an enhanced no lapse guarantee rider is included with your policy, and if you allocate your net premiums or transfer amounts of your policy to the MSO, the rider must first be terminated. Once terminated, any such enhanced death benefit guarantee rider or enhanced no lapse guarantee rider cannot be restored.

•

You must forgo the additional no lapse guarantee benefit provided by the Extended No Lapse Guarantee Rider if you want to allocate to the MSO. Please see “Extended No Lapse Guarantee Rider” in this Prospectus for more information.

•

If your policy has any of these endorsements or riders that schedule or permit an increase in the face amount of your policy (including Target Amount Increases) or the face amount of a term insurance rider, or any combination of the two, any such increase during a Segment Term will be subject to the “face amount increases” provision of the MSO rider for purposes of determining the sufficiency of your values in the investment options under your policy including the MSO Holding Account, and the Unloaned GIO, to cover the recalculated Charge Reserve Amount on the effective date of the increase. The same provision will govern the necessity for any transfers to supplement the amount in the Unloaned GIO. Please also see “Requested Face Amount Increases” under “Description of the Market Stabilizer Option^®“ in this Prospectus for more information.

•

If you die prior to the Segment Maturity Date, your death benefit will be paid as of your date of death and will not be subject to an Early Distribution Adjustment, but you will not receive any positive Index performance.

•

The MSO is not available while the Paid Up Death Benefit Guarantee is in effect. Please see “Paid Up Death Benefit Guarantee” in this Prospectus for more information.

•

For certain variable life insurance policies, if a paid up death benefit guarantee is included with your policy, and if you elect the paid up death benefit guarantee while any Segment is in effect, all Segments will be terminated with corresponding Early Distribution Adjustments. If this occurs, the Segment Distribution Value will be used in place of the Segment Account Value in the calculation of your policy account value for purposes of determining the paid up death benefit guarantee face amount.

•

If your policy has the Loan Extension Endorsement, and your policy goes on Loan Extension while you have amounts invested in MSO, you will forfeit any positive index performance and be subject to an Early Distribution Adjustment with respect to these amounts. In addition, MSO will no longer be available once you go on Loan Extension. Please see “Loan Extension” in this Prospectus for more information.

•

If you elect the Long-Term Care Services^SM Rider, after a period of coverage ends, any Segments will be terminated with an Early Distribution Adjustment and you will forfeit any positive Index performance. Any remaining amounts will be allocated in the variable investment options and GIO based on your premium allocations then in effect. Please see “Long-Term Care Services^SM Rider” in this Prospectus for more information.

•

If you exercise a Living Benefits Rider or an accelerated death benefit rider (which may be referred to as a “total and permanent disability accelerated death benefit rider” or a “limited life expectancy accelerated death benefit rider”), any portion of the accelerated payment allocated to an individual Segment will cause a corresponding Early Distribution Adjustment of the Segment Account Value and you will forfeit any positive Index performance. Please see ”Living Benefits Rider” in this Prospectus for more information.

Business disruption and cybersecurity risks

We rely heavily on technology, including interconnected computer systems and data storage networks and digital communications, to conduct our business. Because our business is highly dependent upon the effective operation of our computer systems and those of our service providers and other business partners, our business is vulnerable to disruptions from utility outages, and susceptible to operational and information security risks resulting from information systems failure (e.g., hardware and software malfunctions), and cyberattacks. Cyberattacks may be systemic (e.g., affecting the internet, cloud services, or other infrastructure) or targeted (e.g., failures in or breach of our systems or those of third parties on whom we rely, including ransomware and malware attacks). Cybersecurity risks include, among other things, the loss, theft, misuse, corruption and destruction of data maintained online or digitally, interference with or denial of service, attacks on our websites (or the websites of third parties on whom we rely), other operational disruption and unauthorized release, use or abuse of confidential customer information. The risk of cyberattacks may be higher during periods of geopolitical turmoil. Due to the increasing sophistication of cyberattacks, a cybersecurity breach could occur and persist for an extended period of time without detection. Systems failures and cyberattacks, as well as, any other catastrophic event, including natural and manmade disasters, public health emergencies, pandemic diseases, terrorist attacks, floods or severe storms affecting us, any third-party administrator, the underlying funds, intermediaries and other affiliated or third-party service providers may adversely affect us, our business

operations and your account value and interfere with our ability to process policy transactions and calculate account values. Systems failures and cyberattacks may also interfere with our processing of policy transactions, including the processing of orders from our website or with the underlying funds, impact our ability to calculate account values and unit values and/or the underlying funds to be unable to calculate share values, cause the release or possible destruction of confidential customer and/or business information, impede order processing or cause other operational issues, subject us and/or our service providers and intermediaries to regulatory fines, litigation and financial losses and/or cause reputational damage. Cybersecurity risks may also impact the issuers of securities in which the underlying funds invest, which may cause the underlying funds to lose value. The preventative actions we take to reduce the frequency and severity of cybersecurity incidents and protect our computer systems may be insufficient to prevent a cybersecurity breach from impacting our operations or your policy value. There can be no assurance that we or the underlying funds or our service providers and intermediaries will be able to avoid cybersecurity breaches affecting your policy.

In addition, we are also exposed to risks related to natural and man-made disasters, including, but not limited to, the occurrence of any storms, fires, floods, earthquakes, public health crises, malicious acts, and terrorist acts or any other event, which could adversely affect our ability to conduct business. A natural or man-made disaster, including a pandemic such as COVID-19, could result in our workforce, and/or employees of service providers and/or third-party administrators, being compromised and unable or unwilling to fully perform their responsibilities, which could likewise result in interruptions in our service. This could interfere with our processing of policy transactions, including processing orders from owners and orders with the underlying funds, impact our ability to calculate policy value, or have other adverse impacts on our operations. These events may also negatively affect our service providers and intermediaries, the underlying funds and issuers of securities in which the underlying funds invest, which may cause the funds underlying your policy to lose value. There can be no assurance that we or the underlying funds or our service providers and intermediaries will be able to avoid negative impacts associated with natural and man-made disasters.

5. Description of the Market Stabilizer Option^®

We offer a Market Stabilizer Option^® that provides a rate of return tied to the performance of the Index.

MSO Holding Account

The amount of each transfer or loan repayment you make to the MSO, and the balance of each premium payment you make to the MSO after any premium charge under your base policy has been deducted, will first be placed in the MSO Holding Account. The MSO Holding Account is a portion of the regular EQ/Money Market variable investment option that will hold amounts allocated to the MSO until the next available Segment Start Date. The MSO Holding Account has the same rate of return ~~as the EQ/Money Market variable investment option~~ and is subject to the same underlying portfolio operating expenses and same mortality and expense risk charges as ~~that~~the EQ/Money Market variable investment option. Please refer to “~~Risk/benefit~~Fee ~~summary: charges and expenses you will pay~~Table” of the ~~appropriate~~ variable life insurance policy prospectus for more information regarding such expenses. We currently plan on offering new Segments on a monthly basis but reserve the right to offer them less frequently or to stop offering them or to suspend offering them temporarily.

Before any account value is transferred into a Segment, you can transfer amounts from the MSO Holding Account into other investment options available under your policy at any time subject to any transfer restrictions within your policy. You can transfer into and out of the MSO Holding Account at any time up to and including the Segment Start Date provided your transfer request is received at our administrative office by such date. For example, you can transfer policy account value into the MSO Holding Account on the 3rd Friday of June, which is the Segment Start Date. That policy account value would transfer into the Segment starting on that date, subject to the conditions mentioned earlier. You can also transfer policy account value out of the MSO Holding Account before the end of the business day on the Segment Start Date and that account value would not be swept into the Segment starting on that date. Please refer to the “How to reach us” section of the ~~appropriate~~ variable life insurance policy prospectus for more information regarding contacting us and communicating your instructions. We also have specific forms that we recommend you use for electing the MSO and any MSO transactions.

On the Segment Start Date, account value in the MSO Holding Account, excluding charges and any account value transferred to cover the Charge Reserve Amount, will be transferred into a Segment if all requirements and limitations are met that are discussed under “Segments” immediately below.

Segments

Each Segment will have a Segment Start Date of the 3rd Friday of each calendar month and will have a Segment Maturity Date on the 3rd Friday of the same calendar month in the succeeding calendar year.

In order for any amount to be transferred from the MSO Holding Account into a new Segment on a Segment Start Date, all of the following conditions must be met on that date:

(1) The Growth Cap Rate for that Segment must be equal to or greater than your minimum Growth Cap Rate (Please see “Growth Cap Rate” ~~later~~ in this Prospectus).

(2) There must be sufficient account value available within the Unloaned GIO and the variable investment options including the MSO Holding Account to cover the Charge Reserve Amount as determined by us on such date (Please see “Charge Reserve Amount” ~~later~~ in this Prospectus).

(3)

The Growth Cap Rate must be greater than the sum of the annual interest rate we are currently crediting on the Unloaned GIO (“A”), the Variable Index Benefit Charge rate (“B”), the annualized monthly Variable Index Segment Account Charge rate (“C”) and the current annualized monthly mortality and expense risk charge rate (“D”). The Growth Cap Rate must be greater than (A+B+C+D). This is to ensure that the highest possible rate of return that could be received in a Segment after these charges (B+C+D) have been considered exceeds the interest crediting rate currently being offered in the Unloaned GIO.

(4)	It must not be necessary, as determined by us on that date, for us to make a distribution from the policy during the Segment Term in order for the policy to continue to qualify as life insurance under applicable tax law.

(5) The total amount allocated to your Segments under your policy on that date must be less than any limit we may have established. At this time there is no limit.

If there is sufficient policy account value in the Unloaned GIO to cover the Charge Reserve Amount, then no transfers from other investment options to the Unloaned GIO will need to be made. If there is insufficient value in the Unloaned GIO to cover the Charge Reserve Amount and we do not receive instructions from you specifying the investment options from which we should transfer the account value to the Unloaned GIO to meet Charge Reserve Amount requirements at the Segment Start Date, or the transfer instructions are not possible due to insufficient funds, then the required amount will be transferred proportionately from your variable investment options including the MSO Holding Account.

If after any transfers there would be an insufficient amount in the Unloaned GIO to cover the Charge Reserve Amount or the Growth Cap Rate for the next available ~~Segment~~ Segment does not qualify per your minimum Growth Cap Rate instructions and the conditions listed above, then your amount in the MSO Holding Account will remain there until we receive further instruction from you. We will mail you a notice informing you that your account value did or did not transfer from the MSO Holding Account into a Segment. These notices are mailed on or about the next business day after the applicable Segment Start Date.

1012

and the conditions listed above, then your amount in the MSO Holding Account will remain there until we receive further instruction from you. We will mail you a notice informing you that your account value did or did not transfer from the MSO Holding Account into a Segment. These notices are mailed on or about the next business day after the applicable Segment Start Date. Please see “Requested Face Amount Increases” in this Prospectus for more information about the investment options from which account value could be transferred to the Unloaned GIO on the effective date of a requested face amount increase.

Segment Maturity

Near the end of the Segment Term, we will notify you between 15 and 45 days before the Segment Maturity Date that a Segment is about to mature. At that time, you may choose to have all or a part of:

(a) the Segment Maturity Value rolled over into the MSO Holding Account

(b) the Segment Maturity Value transferred to the variable investment options available under your policy

(c) the Segment Maturity ~~GIO~~Value transferred to the Unloaned GIO ~~subject to any Segment Maturity GIO Limitation that we may impose~~.

If we do not receive your transfer instructions before the Segment Maturity Date, your Segment Maturity Value will automatically be rolled over into the MSO Holding Account for investment in the next available Segment, subject to the conditions listed under “Segments” above.

However, if we are not offering the MSO at that time, we will transfer the Segment Maturity Value to the investment options available under your policy per your instructions or to the EQ/Money Market investment option if no instructions are received. If the Segment Maturity GIO Limitation is in effect, then you may only allocate up to a specified percentage of your Segment Maturity Value to the guaranteed interest option. That limitation will never be less than 5% of your Segment Maturity Value. Any portion of the Segment Maturity Value that is allocated to the guaranteed interest option in excess of the Segment Maturity GIO Limitation will be allocated to the EQ/Money Market variable investment option unless we receive your instructions prior to the Segment Maturity Date that the Segment Maturity Value should be allocated to any other available variable investment option. Please see “Right to Discontinue and Limit Amounts Allocated to the MSO” and “Segment Maturity GIO Limitation” for more information. Although under the ~~appropriate~~ variable life insurance policy we reserve the right to apply a transfer charge up to $25 for each transfer among your investment options, there will be no transfer charges for any of the transfers discussed in this section.

Growth Cap Rate

By allocating your account value to the MSO, you can participate in the performance of the Index up to the applicable Growth Cap Rate that we declare on the Segment Start Date.

Please note that this means you will not know the Growth Cap Rate for a new Segment until after the account value has been transferred from the MSO Holding Account into the Segment and you are not allowed to transfer the account value out of a Segment before the Segment Maturity Date. Please see “Transfers” below.

Each Segment is likely to have a different Growth Cap Rate. Any increases in the Growth Cap Rate above the minimum 6% are set at the Company’s sole discretion. However, the Growth Cap Rate will never be less than 6%.

~~Your~~As ~~protection~~part ~~against~~of ~~negative~~your ~~performance~~initial ~~for~~instructions ain ~~Segment~~selecting ~~held~~the ~~until~~MSO, ~~its~~you ~~Segment Maturity~~will ~~Date~~specify what your minimum acceptable Growth Cap Rate is ~~currently~~for ~~-10%~~a Segment. You may specify a minimum Growth Cap

~~(“Downside~~Rate ~~Protection”~~from ~~also~~6% ~~referred~~ to in10%. ~~your~~If ~~policy as~~ the ~~“Segment~~Growth ~~Loss~~Cap ~~Absorption Threshold~~ Rate~~”).~~ Wewe ~~reserve~~set, on the ~~right,~~Segment ~~for~~Start ~~new Segments~~Date, tois ~~increase~~below ~~your~~the ~~Downside Protection~~minimum ~~against~~you ~~negative~~specified ~~performance.~~then ~~For~~the ~~example,~~account ifvalue wewill ~~were~~not tobe ~~adjust~~transferred from the ~~Downside~~MSO ~~Protection~~Holding ~~for~~Account ainto that Segment. toIf ~~-100%,~~you ~~the~~do ~~Index-Linked~~not specify a minimum Growth Cap Rate ofthen ~~Return~~your ~~for~~minimum ~~that~~Growth ~~Segment~~Cap ~~would~~Rate ~~not~~will gobe ~~below~~set 0at 6%. ~~Please~~Therefore, ~~note that~~if ~~any~~you ~~increase~~do innot ~~the~~specify ~~protection~~a ~~against~~minimum ~~negative~~acceptable ~~performance~~Growth ~~would~~Cap ~~likely~~Rate, ~~result~~account invalue could transfer into a ~~lower~~Segment with a Growth Cap Rate that may be lower than what you would ~~otherwise~~have ~~apply~~chosen. WeIn ~~will~~addition, ~~provide~~for ~~notice~~account ~~between~~value 15to ~~and~~transfer 45into ~~days~~a ~~before~~Segment ~~any~~from ~~change~~the inMSO Holding Account, the ~~Downside~~Growth ~~Protection~~Cap isRate ~~effective.~~must ~~Any change~~be ~~would~~greater ~~only~~than ~~apply~~the tosum ~~new~~of ~~Segments~~the ~~started~~annual ~~after~~interest ~~the~~rate ~~effective~~we ~~date~~are ofcurrently crediting on the ~~change,~~Unloaned ~~which~~GIO (~~coupled~~“A”), ~~with~~ the ~~15-45~~Variable ~~day~~Index ~~notice~~Benefit weCharge ~~will~~rate ~~give~~(“B”), ~~will~~the ~~afford~~current ~~you~~annualized monthly Variable Index Segment Account Charge rate (“C”) and the ~~opportunity~~current toannualized ~~decline~~monthly tomortality ~~participate~~and inexpense ~~any~~risk ~~Segment~~charge ~~that~~rate ~~reflects~~(“D”). aThe ~~change~~Growth inCap ~~the~~Rate ~~Downside~~must ~~Protection~~be greater than (A+B+C+D).

~~Any increases~~For inexample, assume that the ~~Growth~~annual ~~Cap~~interest ~~Rate~~rate ~~above~~we are currently crediting on the ~~minimum~~Unloaned 6GIO were 4.00%, ~~and~~the ~~increases~~Variable inIndex ~~Downside~~Benefit ~~Protection~~Charge ~~from~~rate were 0.75%, the current ~~minimum~~annualized ~~-10%~~monthly ~~are~~Variable ~~set~~Index atSegment ~~the~~Account ~~Company’s~~charge ~~sole~~rate ~~discretion~~were 0.65% ~~However,~~and the ~~Growth~~annualized ~~Cap~~monthly ~~Rate~~mortality ~~can~~and ~~never~~expense berisk ~~less~~charge ~~than~~rate 6were 0.85%. ~~and~~Based on those assumptions (which we ~~may~~provide only ~~increase~~for ~~your~~illustrative purposes and will not ~~Downside~~necessarily ~~Protection~~correspond ~~from~~to ~~the~~actual ~~current~~rates), ~~-10~~because these numbers total 6.25%, no amounts would be transferred into any Segment unless we declare a Growth Cap Rate that is higher than 6.25%. Please see “Index-Linked Return” in this Prospectus for more information.

As ~~part~~another ~~of your initial instructions in selecting the MSO~~example, you ~~will specify what your minimum acceptable Growth Cap Rate is for a Segment. You~~ may specify a minimum Growth Cap Rate ~~from~~of 68% ~~to 10%~~. If we set the Growth Cap Rate weat ~~set,~~8% onor ~~the~~higher ~~Segment~~for ~~Start~~a ~~Date,~~Segment ~~is below the minimum you specified~~ then ~~the~~a ~~account~~transfer ~~value will not be transferred~~ from the MSO Holding Account ~~into~~will ~~that~~be ~~Segment.~~made Ifinto ~~you~~that donew ~~not~~Segment ~~specify~~provided aall ~~minimum~~other ~~Growth~~requirements ~~Cap~~and ~~Rate~~conditions ~~then~~discussed ~~your~~in ~~minimum~~this ~~Growth~~Prospectus ~~Cap~~are ~~Rate~~met. ~~will~~If bewe set atthe ~~6%. Therefore, if you do not specify a minimum acceptable~~ Growth Cap Rate, ~~account~~below ~~value~~8% ~~could~~then no transfer ~~into~~from athe ~~Segment~~MSO ~~with~~Holding aAccount ~~Growth~~will ~~Cap Rate that may~~ be ~~lower~~made ~~than~~into ~~what~~that ~~you would have chosen~~Segment. InNo ~~addition,~~transfer ~~for~~will ~~account~~be ~~value~~made tountil ~~transfer into~~ a Segment ~~from the MSO Holding Account, the~~ Growth Cap Rate ~~must~~equal beto or greater than ~~the~~8% ~~sum~~is ofset ~~the~~and ~~annual~~all ~~interest~~requirements ~~rate we~~ are ~~currently~~met ~~crediting~~or onyou ~~the~~transfer ~~Unloaned~~account ~~GIO~~value ~~(“A”),~~out ~~the Variable Index Benefit Charge rate (“B”), the annualized monthly Variable Index~~of ~~Segment Account Charge rate (“C”) and~~ the ~~current~~MSO ~~annualized~~Holding ~~monthly mortality and expense risk charge rate (“D”)~~Account. ~~The Growth Cap Rate must be greater than (A+B+C+D).~~

~~For~~You ~~example,~~may ~~assume~~also ~~that~~subsequently ~~the~~change ~~annual~~your ~~interest~~specified ~~rate~~minimum we are currently crediting on the Unloaned GIO were 4.00%, the Variable Index Benefit Charge rate were 0.0%, the annualized monthly Variable Index Segment Account charge rate were 1.40% and the annualized monthly mortality and expense risk charge rate were 0.85%. Based on those assumptions (which we provide only for illustrative purposes and will not necessarily correspond to actual rates), because these numbers total 6.25%, no amounts would be transferred into any Segment unless we declare a Growth Cap Rate ~~that~~by iscontacting ~~higher than~~us ~~6.25%.~~at ~~Please~~our ~~see~~Administrative ~~“Index-Linked Return” later in this Prospectus for more information~~Office.

AsDownside ~~another~~Protection example, you may specify a minimum Growth Cap Rate of 8%. If we set the Growth Cap Rate at 8% or higher for a Segment then a transfer from the MSO Holding Account will be made into that new Segment provided all

11Your protection against negative performance for a Segment held until its Segment Maturity Date is currently -25% (“Downside Protection” also referred to in your policy as the “Segment Loss Absorption Threshold Rate”). We reserve the right, for new Segments, to increase your Downside Protection against negative performance. For example, if we were to adjust the Downside Protection for a Segment to -100%, the Index-Linked Rate of Return for that Segment would not go below 0%. Please note that any increase in the protection against negative performance would likely result in a lower Growth Cap Rate than would otherwise apply. We will provide notice between 15 and 45 days before any change in the Downside Protection is effective. Any change would only apply to new Segments started after the effective

~~other~~13 requirements and conditions discussed in this Prospectus are met. If we set the Growth Cap Rate below 8% then no transfer from the MSO Holding Account will be made into that Segment. No transfer will be made until a Segment Growth Cap Rate equal to or greater than 8% is set and all requirements are met or you transfer account value out of the MSO Holding Account.

date of the change, which (coupled with the 15-45 day notice we will give) will afford you the opportunity to decline to participate in any Segment that reflects a change in the Downside Protection.

Any increases in the Growth Cap Rate above the minimum 6% and increases in Downside Protection from the minimum -25% are set at the Company’s sole discretion. However, we may only increase your Downside Protection from the current -25%. Your Downside Protection will never decrease below -25%.

Index-Linked Return

We calculate the Index-Linked Return for a Segment by taking the Index-Linked Rate of Return and multiplying it by the Segment Account Value on the Segment Maturity Date. The Segment Account Value is net of ~~the Variable Index Benefit Charge described below as well as~~ any ~~monthly~~Early ~~deductions,~~Distributions ~~policy loans~~ and ~~unpaid interest, distributions from the policy that we deem necessary to continue to qualify the policy as life insurance under applicable tax law and~~ any corresponding Early Distribution Adjustments. The Segment Account Value does not include the Charge Reserve Amount described ~~later~~ in this Prospectus.

The following table demonstrates the Index-Linked Rate of Return and the Segment Maturity Value on the Segment Maturity Date based upon a hypothetical range of returns for the S&P 500 Price Return index net of charges. This example assumes a 15% Growth Cap Rate, ~~and~~ a $1,000 investment in the MSO Segment and a Downside Protection of -25%. No Early Distributions have occurred during the Segment term.

Index PerformanceRate of the S&P 500Price Return index	Index-Linked Rate of Return	Segment MaturityValue
50%	15%	$1,150
25%	15%	$1,150
10%	10%	$1,100
0%	0%	$1,000
-10%	0%	$1,000
-25%	0%	$1,000
-25%	-15%	$850
-50%	-25%	$750
-50%	-40%	$600
-75%	-50%	$500
-75%	-65%	$350
-100%	-75%	$250
-100%	-90%	$100

For instance, we may set the Growth Cap Rate at 15%. Therefore, if the Index has gone up 20% over your Segment Term, you will receive a 15% credit to your Segment Account Value on the Segment Maturity Date. If the Index had gone up by 13% from your Segment Start Date to your Segment Maturity Date then you would receive a credit of 13% to your Segment Account Value on the Segment Maturity Date.

If the Index had gone down 1020% over the Segment Term then you would receive a return of 0% to your Segment Account Value on the Segment Maturity Date.

If the Index had gone down by 1530% by your Segment Maturity Date then your Segment Account Value would be reduced by 5% on the Segment Maturity Date. The Downside Protection feature of the MSO will absorb the negative performance of the Index up to -1025%.

The minimum Growth Cap Rate is 6%. However, account value will only transfer into a new Segment from the MSO Holding Account if the Growth Cap Rate is equal to or greater than your specified minimum Growth Cap Rate and meets the conditions discussed earlier in the “Growth Cap Rate” section.

In those instances where the account value in the MSO Holding Account does not transfer into a new Segment, the account value will remain in the MSO Holding Account until the next available, qualifying Segment unless you transfer the account value into the Unloaned GIO and/or other investment option available under your policy subject to any conditions and restrictions.

For instance, if we declare the Growth Cap Rate to be 6% and your specified minimum Growth Cap Rate is 6% but we are currently crediting an annual interest rate on the Unloaned GIO that is greater than or equal to 6% minus the sum of the charges (B+C+D) discussed in the Growth Cap Rate section then your account value will remain in the MSO Holding Account on the date the new Segment would have started.

As indicated above, you must transfer account value out of the MSO Holding Account into the Unloaned GIO and/or other investment options available under your policy if you do not want to remain in the MSO Holding Account.

If we declare the Growth Cap Rate to be 6% and your specified minimum Growth Cap Rate is 6% and if the sum of the charges (B+C+D) discussed in the “Growth Cap Rate” section plus the annual interest rate on the Unloaned GIO are less than 6% and all requirements are met then the net amount of the account value in the MSO Holding Account will transfer into a new Segment.

If you specified a minimum Growth Cap Rate of 10% in the above examples then account value would not transfer into a new Segment from the MSO Holding Account because the Growth Cap Rate did not meet your specified minimum Growth Cap Rate.

The Index-Linked Return is only applied to amounts that remain in a Segment until the Segment Maturity Date. For example, a surrender of your policy before Segment maturity will eliminate any Index-Linked Return and be subject to a Early Distribution Adjustment.

Change in Index

If the Index is discontinued or if the calculation of the Index is substantially changed, we reserve the right to substitute an alternative index. We also reserve the right to choose an alternative index at our discretion.

If we were to substitute an alternative index at our discretion, we would provide notice 45 days before making that change. The new index would only apply to new Segments. Any outstanding Segments would mature on their original Segment Maturity Dates.

With an alternative index, the Downside Protection would remain the same or greater. However, an alternative index may reduce the Growth Cap Rates we can offer. We would attempt to choose a substitute index that has a similar investment objective and risk profile to the S&P 500 Price Return index.

If the S&P 500 Price Return index were to be discontinued or substantially changed, thereby affecting the Index-Linked Return of existing Segments, we will mature the Segments based on the most recently available closing value of the Index before it is discontinued or changed. Such maturity will be as of the date of such most recently available closing value of the Index and we will use that closing value to calculate the Index-linked Return through that date. We would apply the full Index performance to that date subject to the full Growth Cap Rate and Downside Protection. For example, if the Index was up 12% at the time we matured the Segment and the Growth Cap Rate was 8%, we would credit an 8% return to your Segment Account Value. If the Index was down 30% at the time we matured the Segment, we would credit a 5% negative return to your Segment Account Value. We would provide notice about maturing the Segment, as soon as practicable and ask for instructions on where to transfer your Segment Maturity Value.

attempt to choose a substitute index that has a similar investment objective and risk profile to the S&P 500 Price Return index.

If the S&P 500 Price Return index were to be discontinued or substantially changed, thereby affecting the Index-Linked Return of existing Segments, we will mature the Segments based on the most recently available closing value of the Index before it is discontinued or changed. Such maturity will be as of the date of such most recently available closing value of the Index and we will use that closing value to calculate the Index-linked Return through that date. We would apply the full Index performance to that date subject to the full Growth Cap Rate and Downside Protection. For example, if the Index was up 12% at the time we matured the Segment and the Growth Cap Rate was 8%, we would credit an 8% return to your Segment Account Value. If the Index was down 30% at the time we matured the Segment, we would credit a 20% negative return to your Segment Account Value. We would provide notice about maturing the Segment, as soon as practicable and ask for instructions on where to transfer your Segment Maturity Value.

If we are still offering Segments at that time, you can request that the Segment Maturity Value be invested in a new Segment, in which case we will hold the Segment Maturity Value in the MSO Holding Account for investment in the next available Segment subject to the same terms and conditions discussed above under MSO Holding Account and Segments.

In the case of any of the types of early maturities discussed above, there would be no transfer charges or EDA applied and you can allocate the Segment Maturity Value to the investment options available under your policy. Please see “Segment Maturity” ~~earlier~~ in this Prospectus for more information. If we continued offering new Segments, then such a change in the Index may cause lower Growth Cap Rates to be offered. However, we would still provide a minimum Growth Cap Rate of 6% and minimum Downside Protection of -1025%. We also reserve the right to not offer new Segments. Please see “Right to Discontinue and Limit Amounts Allocated to the MSO” ~~later~~ in this Prospectus.

Charges

There is a current percentage charge of ~~0.40% of~~ any policy account value allocated to each Segment provided in the applicable variable life insurance policy prospectus. We reserve the right to increase or decrease the charge although it will never exceed 12.6540%. Of this percentage charge, 0.75% will be deducted on the Segment Start Date from the amount being transferred from the MSO Holding Account into the Segment as an up-front charge (“Variable Index Benefit Charge”), with the remaining annual charge (of the current Segment Account Value) being deducted from the policy account on a monthly basis during the Segment Term (“Variable Index Segment Account Charge”). For additional information see your variable life insurance policy prospectus.

MSO Charges	CurrentNon-guaranteed	GuaranteedMaximum
Variable Index Benefit Charge	0.0%	0.0%
Variable Index Segment Account Charge	0.40%	1.65%
Total	0.40%	1.65%

The base variable life insurance policy’s mortality and expense risk charge will also be applicable to a Segment Account Value or any amounts held in the MSO Holding Account. Please refer to the appropriate variable life insurance policy prospectus for more information on the mortality and expense risk charge. Amounts in the MSO Holding Account reflect fees and expenses of the EQ/Money Market Portfolio, which are described in the prospectuses for the variable life insurance policy and the EQ/Money Market Portfolio.

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If a Segment ~~Loans~~is ~~later~~terminated prior to maturity by policy surrender, or reduced prior to maturity by monthly deductions (if other funds are insufficient) or by loans or a Guideline Premium Force-out as described below, we will refund a proportionate amount of the Variable Index Benefit Charge corresponding to the surrender or reduction and the time remaining until Segment Maturity. The refund will be administered as part of the Early Distribution Adjustment process as described above. This refund will increase your surrender value or remaining Segment Account Value, as appropriate. Amounts in ~~this~~the ~~Prospectus~~MSO Holding Account reflect fees and expenses of the EQ/Money Market Portfolio, which are described in the prospectuses for ~~information~~the ~~regarding~~variable life insurance policy and the EQ/Money Market Portfolio. Please see “~~spread”~~Appendix: ~~you~~Early ~~would~~Distribution ~~pay~~Adjustment onExamples” ~~any~~for ~~policy~~an ~~loan~~example and further information.

The base variable life insurance policy’s mortality and expense risk charge will also be applicable to a Segment Account Value or any amounts held in the MSO Holding Account. The mortality and expense risk charge is part of the policy monthly charges. Please see “How we deduct policy monthly charges during a Segment Term” for more information. Please refer to the appropriate variable life insurance policy prospectus for more information.

Charge Reserve Amount

If you elect the Market Stabilizer Option^®, you are required to maintain a minimum amount of policy account value in the Unloaned GIO to approximately cover the estimated monthly charges for the policy, (including, but not limited to, the MSO and any optional riders) for the Segment Term. This is the Charge Reserve Amount.

The Charge Reserve Amount will be determined on each Segment Start Date as an amount projected to be sufficient to cover all of the policy’s monthly deductions during the Segment Term, assuming at the time such calculation is made that no interest or investment performance is credited to or charged against the policy account and that no policy ~~changes or additional premium payments are made. The Charge~~ Reserve Amount on other than a Segment Start Date will be the Charge Reserve Amount determined as of the latest Segment Start Date reduced by each subsequent monthly deduction during the longest remaining Segment Term, although it will never be less than zero. This means, for example, that if you are in a Segment (Segment A) and then enter another Segment (Segment B) 6 months later, the Charge Reserve Amount would be re-calculated on the start date of Segment B. The Charge Reserve Amount would be re-calculated to cover all of the policy’s monthly deductions during the Segment Terms for both Segments A and B.

changes or additional premium payments are made. The Charge Reserve Amount on other than a Segment Start Date (or the effective date of a requested face amount increase — please see “Requested Face Amount Increases” below for more information) will be the Charge Reserve Amount determined as of the latest Segment Start Date (or effective date of a face amount increase) reduced by each subsequent monthly deduction during the longest remaining Segment Term, although it will never be less than zero. This means, for example, that if you are in a Segment (Segment A) and then enter another Segment (Segment B) 6 months later, the Charge Reserve Amount would be re-calculated on the start date of Segment B. The Charge Reserve Amount would be re-calculated to cover all of the policy’s monthly deductions during the Segment Terms for both Segments A and B.

When you select the MSO, as part of your initial instructions, you will be asked to specify the investment options from which we should transfer the account value to the Unloaned GIO to meet Charge Reserve Amount requirements, if necessary. No transfer restrictions apply to amounts that you wish to transfer into the Unloaned GIO to meet the Charge Reserve Amount requirement. If your values in the variable investment options including the MSO Holding Account and the unloaned portion of our GIO are insufficient to cover the Charge Reserve Amount, no new Segment will be established. Please see “Segments” above for more information regarding the Charge Reserve Amount and how amounts may be transferred to meet this requirement.

Please note that the Charge Reserve Amount may not be sufficient to cover actual ~~monthly~~ monthly deductions during the Segment Term. Although the Charge Reserve Amount will be re-calculated on each Segment Start Date, and the amount already present in the Unloaned GIO will be supplemented through transfers from your value in the variable investment options including the MSO Holding Account, if necessary to meet this requirement, actual monthly deductions could vary up or down during the Segment Term due to various factors including but not limited to requested policy changes, additional premium payments, investment performance, loans, policy partial withdrawals from other investment options besides the MSO, and any changes we might make to current policy charges.

Account, if necessary to meet this requirement, actual monthly deductions could vary up or down during the Segment Term due to various factors including but not limited to requested policy changes, additional premium payments, investment performance, loans, policy partial withdrawals from other investment options besides the MSO, and any changes we might make to current policy charges.

How we deduct policy monthly charges during a Segment Term

Under your base variable life insurance policy, monthly deductions are allocated to the variable investment options and the Unloaned GIO according to deduction allocation percentages specified by you or based on a proportionate allocation should any of the individual investment option values be insufficient.

However, if the Market Stabilizer Option® is elected, on the Segment Start Date, deduction allocation percentages will be changed so that 100% of monthly deductions will be taken from the Charge Reserve Amount and then any remaining value in the Unloaned GIO, if the Charge Reserve Amount is depleted, during the Segment Term. In addition, if ~~the value in the Unloaned GIO is ever insufficient to cover monthly~~ ~~deductions during the Segment Term, the base policy’s proportionate allocation procedure will be modified as follows:~~

the value in the Unloaned GIO is ever insufficient to cover monthly deductions during the Segment Term, the base policy’s proportionate allocation procedure will be modified as follows:

1.	The first step will be to take the remaining portion of the deductions proportionately from the values in the variable investment options, including any value in the MSO Holding Account but excluding any Segment Account Values.

2.	If the Unloaned GIO and variable investment options, including any value in the MSO Holding Account, are insufficient to cover deductions in their entirety, the remaining amount will be allocated to the individual Segments proportionately, based on the current Segment Distribution Values.

3.	Any portion of a monthly deduction allocated to an individual Segment will generate a corresponding Early Distribution Adjustment of the Segment Account Value.

The effect of those procedures is that account value will be taken out of a Segment to pay a monthly deduction (and an EDA therefore applied) only if there is no remaining account value in any other investment options, as listed in 1. and 2. above.

In addition, your base variable life insurance policy will lapse if your net policy account value or net cash surrender value (please refer to your base variable life insurance policy prospectus for a further explanation of these terms) is not enough to pay your policy’s monthly charges when due (unless one of the available guarantees against termination is applicable). If you have amounts allocated to MSO Segments, the Segment Distribution Value will be used in place of the Segment Account Value in calculating the net policy account value and net cash surrender value.

These modifications will apply during any period in which a Segment exists and has not yet reached its Segment Maturity Date.

Early Distribution Adjustment

Overview

Before a Segment matures, if you surrender your policy, take a loan from a Segment or have ifanother weEarly ~~should find it necessary to make deductions for monthly charges or other distributions from a Segment~~Distribution, we will apply an Early Distribution Adjustment.

The application of the EDA is based on your agreement (under the terms of the MSO) to be exposed to the risk that, at the Segment Maturity Date, the Index will have fallen by more than 1025%. The EDA uses what we refer to as a Put Option Factor to estimate the market value, at the time of an ~~early~~Early ~~distribution~~Distribution, of the risk that you would suffer a loss if your Segment were continued (without taking the ~~early distribution~~Early Distribution) until its Segment Maturity Date. By charging you with a deduction equal to that estimated value, the EDA provides a treatment for an ~~early~~Early ~~distribution~~Distribution that is designed to be consistent with how distributions at the end of a Segment are treated when the Index has declined over the course of that Segment.

In the event of an ~~early~~Early ~~distribution~~Distribution, even if the Index has experienced positive performance since the Segment Start Date, the EDA will cause you to lose principal and previously credited interest through the application of the Put Option Factor and that loss may be substantial. That is because there is always some risk that the Index would have declined by the Segment Maturity Date such that you would suffer a loss if the Segment were continued (without taking any ~~early~~Early ~~distribution~~Distribution) until that time. ~~The~~However, the other component of the EDA is the proportionate refund of the Variable Index Benefit Charge (discussed below under “Important Considerations”) which is a positive adjustment to you. As a result, the overall impact of the EDA is to reduce your Segment Account Value and your other policy values except in the limited circumstances where the proportionate refund is greater than your loss from the Put Option Factor.

We determine the EDA and the Put Option Factor by formulas that are described below under “Additional Detail.”

Important Considerations

When any surrender, loan, charge deduction or other distribution is made from a Segment before its Segment Maturity Date:

1. You will forfeit any positive Index performance with respect to these amounts. Instead, any of these pre- Segment Maturity Date distributions will cause an EDA to be applied that will usually result in a reduction in your values. Surrender charges and tax consequences also could apply to Early Distributions. Therefore, you should give careful consideration before taking any such early loan or surrender, exercising a rider or allowing the value in your other investment options to fall so low that we must make any monthly deduction from a Segment; and

2.	The EDA will be applied, which means that:

a. If the Index has fallen more than 1025% since the Segment Start Date, the EDA would generally have the effect of charging you for (i) the full amount of that loss below 25%, plus (ii) an additional amount for the risk that the Index might decline further by the Segment Maturity Date. (Please see example III in “Appendix: Early Distribution Adjustment Examples” for further information.)

14b. If the Index has fallen since the Segment Start Date, but by less than 25%, the EDA would charge you for the risk that, by the Segment Maturity Date, the index might have declined further to a point more than 25% below what it was at the Segment Start Date. (Please see example I in “Appendix: Early Distribution Adjustment Examples” for further information.) This charge would generally be less than the amount by which the Index had fallen from the Segment Start Date through the date we apply

~~that~~16 loss below 10%, plus (ii) an additional amount for the risk that the Index might decline further by the Segment Maturity Date. (Please see example III in Appendix “Early Distribution Adjustment Examples” for further information.)

~~b. If~~ the ~~Index has fallen since the Segment Start Date, but by less than 10%, the~~ EDA ~~would charge you for the risk that, by the Segment Maturity Date, the index might have declined further to a point more than 10% below what it was at the Segment Start Date~~. (Please see example I in Appendix “Early Distribution Adjustment Examples” for further information.) This charge would generally be less than the amount by which the Index had fallen from the Segment Start Date through the date we apply the EDA. It also would generally be less than it would be under the circumstances in 2a. above.

c. If the Index has risen since the Segment Start Date, the EDA would not credit you with any of such favorable investment performance. Instead, the EDA would charge you for the risk that, by the Segment Maturity Date, the index might have declined to a point more than 1025% below what it was at the Segment Start Date. (Please see examples II and IV in “Appendix: “Early Distribution Adjustment Examples” for further information.) This charge would generally be less than it would be under the circumstances in 2a. and 2b. above.

In addition to the consequences discussed in 2. above, the EDA also has the effect of pro rating the Variable Index Benefit Charge. As discussed further below, this means that you in effect would receive a proportionate refund of this charge for the portion of the Segment Term that follows the early surrender, loan, policy distribution, or charge deduction that caused us to apply the EDA. In limited circumstances, this refund may cause the total EDA to be positive.

For the reasons discussed above, the Early Distribution Adjustment to the Segment Account Value will usually reduce the amount you would receive when you surrender your policy prior to a Segment Maturity Date. For loans and charge deductions, the Early Distribution Adjustment would usually further reduce the account value remaining in the Segment Account Value and therefore decrease the Segment Maturity Value.

Additional Detail

For purposes of determining the Segment Distribution Value prior to a Segment Maturity Date, the EDA is: ~~the Put Option Factor multiplied by the Segment Account Value.~~

~~The~~(a) the Put Option Factor multiplied by the Segment Account Value represents, at any time during the Segment Term, the estimated market value of your potential exposure to negative S&P 500 Price Return index performance that is worse than -10%. The Put Option Factor, on any date, represents the estimated value on that date of a hypothetical “put option” (as described below) on the Index having a notional value equal to $1 and strike price at Segment Maturity equal to $0.90 ($1 plus the Downside Protection which is currently -10%). The strike price of the option ($0.90) is the difference between a 100% loss in the S&P 500 Price Return index at Segment Maturity and the 10% loss at Segment Maturity that would be absorbed by the Downside Protection feature of the MSO (please see “Growth Cap Rate” earlier in this Prospectus for an explanation of the Downside Protection.)

In-minus- a put option on an index, the seller will pay the buyer, at the maturity of the option, the difference between the strike price — which was set at issue — and the underlying index closing price, in the event that the closing price is below the strike price. Prior to the maturity of the put option, its value generally will have an inverse relationship with the index. The notional value can be described as the price of the underlying index at inception of the contract. Using a notional value of $1 facilitates computation of the percentage change in the Index and the put option factor.

(b)	a pro rata portion of the 0.75% Variable Index Benefit Charge attributable to the Segment Account Value. (Please see “Charges” in this Prospectus for an explanation of this charge.)

The Put Option Factor multiplied by the Segment Account Value represents, at any time during the Segment Term, the estimated market value of your potential exposure to negative S&P 500 Price Return index performance that is worse than -25%. The Put Option Factor, on any date, represents the estimated value on that date of a hypothetical “put option” (as described below) on the Index having a notional value equal to $1 and strike price at Segment Maturity equal to $0.75 ($1 plus the Downside Protection which is currently -25%). The strike price of the option ($0.75) is the difference between a 100% loss in the S&P 500 Price Return index at Segment Maturity and the 25% loss at Segment Maturity that would be absorbed by the Downside Protection feature of the MSO (please see “Growth Cap Rate” in this Prospectus

for an explanation of the Downside Protection.) In a put option on an index, the seller will pay the buyer, at the maturity of the option, the difference between the strike price — which was set at issue — and the underlying index closing price, in the event that the closing price is below the strike price. Prior to the maturity of the put option, its value generally will have an inverse relationship with the index. The notional value can be described as the price of the underlying index at inception of the contract. Using a notional value of $1 facilitates computation of the percentage change in the Index and the put option factor.

The Company will utilize a fair market value methodology to determine the Put Option Factor.

For this purpose, we use the Black Scholes formula for valuing a European put option on the S&P 500 Price Return index, assuming a continuous dividend yield, with inputs that are consistent with current market prices.

The inputs to the Black Scholes Model include:

(1) Implied Volatility of the Index — This input varies with (i) how much time remains until the Maturity Date of the Segment from which an ~~early~~Early ~~distribution~~Distribution is being made, which is determined by using an expiration date for the hypothetical put option that corresponds to that time remaining and (ii) the relationship between the strike price of the hypothetical put option and the level of the S&P 500 Price Return index at the time of the ~~early~~Early ~~distribution~~Distribution. This relationship is referred to as the “moneyness” of the hypothetical put option described above, and is calculated as the ratio of the $0.9075 strike price of that hypothetical put option to what the level of the S&P 500 Price Return index would be at the time of the ~~early~~Early ~~distribution~~Distribution if the Index had been $1 at the beginning of the Segment. Direct market data for these inputs for any given ~~early~~Early ~~distribution~~Distribution are generally not available, because put options on the Index that actually trade in the market have specific maturity dates and moneyness values that are unlikely to correspond precisely to the Maturity Date and moneyness of the hypothetical put option that we use for purposes of calculating the EDA.

Accordingly, we use the following method to estimate the implied volatility of the index. We receive daily quotes of implied volatility from banks using the same Black Scholes model described above and based on the market prices for certain S&P 500 Price Return put options. Specifically, implied volatility quotes are obtained for put options with the closest maturities above and below the actual time remaining in the Segment at the time of the ~~early distribution~~Early Distribution and, for each maturity, for those put options having the closest moneyness ~~those put options having the closest moneyness~~ value above and below the actual moneyness of the hypothetical put option described above, given the level of the S&P 500 Price Return index at the time of the ~~early~~Early ~~distribution~~Distribution. In calculating the Put Option Factor, we will derive a volatility input for your Segment’s time to maturity and strike price by linearly interpolating between the ~~implied~~ implied volatility quotes that

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are based on the actual adjacent maturities and moneyness values described above, as follows:

(a)

We first determine the implied volatility of a put option that has the same moneyness as the hypothetical put option but with the closest available time to maturity shorter than your Segment’s remaining time to maturity. This volatility is derived by linearly interpolating between the implied volatilities of put options having the moneyness values that are above and below the moneyness value of the hypothetical put option.

(b)

We then determine the implied volatility of a put option that has the same moneyness as the hypothetical put option but with the closest available time to maturity longer than your Segment’s remaining time to maturity. This volatility is derived by linearly interpolating between the implied volatilities of put options having the moneyness values that are above and below the moneyness value of the hypothetical put option.

(c)

The volatility input for your Segment’s time to maturity will then be determined by linearly interpolating between the volatilities derived in steps (a) and (b).

(2) Overnight Indexed Swap (OIS) Rate — Key duration OIS rates will be retrieved from a recognized financial reporting vendor. OIS rates will be retrieved for maturities adjacent to the actual time remaining in the Segment at the time of the ~~early~~Early ~~distribution~~Distribution. We will use linear interpolation to derive the exact remaining duration rate needed as the input.

(3)	Index Dividend Yield — On a daily basis we will get the projected annual dividend yield across the entire Index. This value is a widely used assumption and is readily available from recognized financial reporting vendors.

In general, the Put Option Factor has an inverse relationship with the S&P 500 Price Return index. In addition to the factors discussed above, the Put Option Factor is also influenced by time to Segment Maturity. We determine Put Option Factors at the end of each business day. Generally, a business day is any day the New York Stock Exchange is open for trading. If any inputs to the Black Scholes formula are unavailable on a business day, we would use the value of the input from the most recent preceding business day. The Put Option Factor that applies to a transaction or valuation made on a business day will be the Factor for that day. The Put Option Factor that applies to a transaction or valuation made on a non-business day will be the Factor for the next business day.

“Appendix: “Early Distribution Adjustment Examples” ~~at the end of this Prospectus~~ provides examples of how the Early Distribution Adjustment is calculated.

Transfers

~~There~~The isCompany nodoes not impose the policy’s $25 transfer charge to transfer into and out of the MSO Holding Account and you can make a transfer at any time to or from the

~~from the~~ investment options available under your policy subject to any transfer restrictions within your policy. You may not transfer into the MSO Holding Account while the Extended No Lapse ~~Guarantee~~ Guarantee Rider is in effect with your policy, if applicable. You must terminate the Extended No Lapse Guarantee Rider before electing MSO. Any restrictions applicable to transfers between the MSO Holding Account and such investment options would be the same transfer restrictions applicable to transfers between the investment options available under your policy. However, once policy account value has been swept from the MSO Holding Account into a Segment, transfers into or out of that Segment before its Segment Maturity Date will not be permitted. In order to transfer account value to the MSO, there must be sufficient funds remaining in the guaranteed interest option following the transfer to cover the Charge Reserve Amount. Please note that while a Segment is in effect, before the Segment Maturity Date, the amount available for transfers from the Unloaned GIO will be limited to avoid reducing the Unloaned GIO below the remaining Charge Reserve Amount.

Thus the amount available for transfers from the Unloaned GIO will not be greater than any excess of the Unloaned GIO over the remaining Charge Reserve Amount.

Please also refer to the applicable life insurance policy prospectus for more information.

Withdrawals

Once policy account value has been swept from the MSO Holding Account into a Segment, you will not be allowed to withdraw the account value out of a Segment before the Segment Maturity Date unless you surrender your policy. You may also take a loan; please see “Loans” ~~later~~ in this Prospectus for more information. Any account value taken out of a Segment before the Segment Maturity Date will generate an Early Distribution Adjustment. Please note that while a Segment is in effect, before the Segment Maturity Date, the amount available for withdrawals from the Unloaned GIO will be limited to avoid reducing the Unloaned GIO below the Charge Reserve Amount. Thus, if there is any policy account value in a Segment, the amount which would otherwise be available to you for a partial withdrawal of net cash surrender value will be reduced, by the amount (if any) by which the sum of your Segment Distribution Values and the Charge Reserve Amount exceeds the policy surrender charge.

If the policy owner does not indicate or if we cannot allocate the withdrawal as requested due to insufficient funds, we will allocate the withdrawal proportionately from your values in the Unloaned GIO (excluding the Charge Reserve Amount) and your values in the variable investment options including the MSO Holding Account.

Cash Surrender Value, Net Cash Surrender Value and Loan Value

If you have amounts allocated to MSO Segments, the Segment Distribution Values will be used in place of the Segment Account Values in calculating the amount of any cash surrender value, net cash surrender value and maximum amount ~~available for loans (please refer to your base~~ variable life insurance policy prospectus for a further explanation of these latter terms). This means an EDA would apply to those amounts. Please see Appendix “Early Distribution Adjustment Examples” for more information.

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available for loans. This means an EDA would apply to those amounts. Please see “Appendix: Early Distribution Adjustment Examples” for more information.

Guideline Premium Force-outs

For policies that use the Guideline Premium Test, a new Segment will not be established or created if we determine, when we process your election, that a distribution from the policy will be required to maintain its qualification as life insurance under federal tax law at any time during the Segment Term.

However, during a Segment Term if a distribution becomes necessary under the force-out rules of Section 7702 of the Internal Revenue Code, it will be deducted proportionately from the values in the Unloaned GIO (excluding the Charge Reserve Amount) and in any variable investment option, including any value in the MSO Holding Account but excluding any Segment Account Values.

If the Unloaned GIO (excluding the Charge Reserve Amount) and variable investment options, including any value in the MSO Holding Account, are insufficient to cover the force-out in its entirety, any remaining amount required to be forced out will be taken from the individual Segments proportionately, based on the current Segment Distribution Values.

Any portion of a force-out distribution taken from an individual Segment will generate a corresponding Early Distribution Adjustment of the Segment Account Value.

If the Unloaned GIO (excluding the remaining Charge Reserve Amount), together with the variable investment options including any value in the MSO Holding Account, and the Segment Distribution Values, is still insufficient to cover the force-out in its entirety, the remaining amount of the force-out will be allocated to the Unloaned GIO and reduce or eliminate any remaining Charge Reserve Amount under the Unloaned GIO.

Loans

Please refer to the appropriate variable life insurance policy prospectus for information regarding policy loan provisions including the applicable interest rate.

You may specify how your loan is to be allocated among the MSO, the variable investment options and the Unloaned GIO. Any portion of a requested loan allocated to the MSO will be redeemed from the individual Segments and the MSO Holding Account proportionately, based on the value of the MSO Holding Account and the current Segment Distribution Values of each Segment. Any portion allocated to an individual Segment will generate a corresponding Early Distribution Adjustment of the Segment Account Value and be subject to a higher guaranteed maximum loan spread (2% for New York policies (and Oregon for certain products) and 5% for all other policies). The loan spread is the difference between the interest rate we charge on the amounts borrowed and the interest rate credited on amounts held as collateral. The guaranteed minimum interest rate credited on loan collateral is 1%.

For example, if the current rate credited on loan collateral is 1% per year, then the rate charged on amounts of the loan allocated to the MSO will be at most 1% plus 5% for a total of 6% per year subject to the maximum loan interest rate that will be applied to the amounts you borrow.

If you do not specify or if we cannot allocate the loan according to your specifications, we will allocate the loan proportionately from your values in the Unloaned GIO (excluding the Charge Reserve Amount) and your values in the variable investment options including the MSO Holding Account.

If the Unloaned GIO (excluding the remaining amount of the Charge Reserve Amount), together with the variable investment options including any value in the MSO Holding Account, are insufficient to cover the loan in its entirety, the remaining amount of the loan will be allocated to the individual Segments proportionately, based on current Segment Distribution Values.

Account, are insufficient to cover the loan in its entirety, the remaining amount of the loan will be allocated to the individual Segments proportionately, based on current Segment Distribution Values.

Any portion of a loan allocated to an individual Segment will generate a corresponding Early Distribution Adjustment of the Segment Account Value and be subject to a higher guaranteed maximum loan spread.

If the Unloaned GIO (excluding the remaining amount of the Charge Reserve Amount), together with the variable investment options including any value in the MSO Holding Account and the Segment Distribution Values, are still insufficient to cover the loan in its entirety, the remaining amount of the loan will be allocated to the Unloaned GIO and will reduce or eliminate the remaining Charge Reserve Amount.

Loan interest is due on each policy anniversary. If the interest is not paid when due, it will be added to your outstanding loan and allocated on the same basis as monthly deductions. See “How we deduct policy monthly charges during a Segment Term.”

Whether or not any Segment is in effect and has not yet reached its Segment Maturity Date, loan repayments will first reduce any loaned amounts that are subject to the higher maximum loan interest spread. Loan repayments will first be used to restore any amounts that, before being designated as loan collateral, had been in the Unloaned GIO. Any portion of an additional loan repayment allocated to the MSO at the policy owner’s direction (or according to premium allocation percentages) will be transferred to the MSO Holding Account to await the next available Segment Start Date and will be subject to the same conditions described ~~earlier~~ in this Prospectus.

Paid Up Death Benefit Guarantee

Please note that the MSO is not available while the Paid Up Death Benefit Guarantee is in effect. The Paid Up Death Benefit Guarantee provides an opportunity to lock in all or a portion of your policy’s death benefit, provided certain conditions are met. Please see the appropriate variable life insurance policy prospectus for more information.

Enhanced Death Benefit Guarantee Rider

The extended no lapse guarantee rider must be terminated before you can allocate your net premiums or transfer amounts of your policy to the MSO. Once terminated, any such enhanced death benefit guarantee rider cannot be restored.

Extended No Lapse Guarantee Rider

Please note that the MSO is not available while the Extended No Lapse Guarantee Rider is in effect, if applicable. You must terminate the Extended No Lapse Guarantee Rider before electing MSO. The Extended No Lapse Guarantee guarantees that your policy will not terminate for a certain number of years, provided certain conditions are met. Please see your Incentive Life Legacy® II prospectus for more information.

~~Policy~~Loan ~~Continuation~~Extension Endorsement

We will include all Segment Values in determining whether the policy will go on to ~~Policy~~ ~~Continuation~~Loan Extension. If the ~~Policy~~Loan ~~Continuation~~Extension goes into effect, all Segments will be terminated and, you will forfeit any positive index performance and be subject to an Early Distribution Adjustment with respect to these amounts. In addition, MSO will no longer be available once you go on Loan Extension. Please see the appropriate variable life insurance policy prospectus for more information.

respect to these amounts. In addition, MSO will no longer be available once you go on Policy Continuation. Please see the appropriate variable life insurance policy prospectus for more information.

Long-Term Care Services^SM Rider

If you elect the Long-Term Care ServicesSM Rider, after a period of coverage ends before coverage is continued as a Nonforfeiture Benefit, if any MSO Segments are in effect, they will be terminated with corresponding ~~early~~Early Distribution ~~distribution adjustments~~Adjustments, and the MSO Segment values will be reallocated to the variable investment options and your GIO based on your premium allocations then in effect.

Living Benefits Rider

If a Living Benefits Rider or an accelerated death benefit rider (which may be referred to as a “total and permanent disability accelerated death benefit rider” or a “limited life expectancy accelerated death benefit rider”) is included with your policy, the portion of the cash surrender value that is on lien and is allocated to your values in the variable investment options under your policy and investment in the MSO will be transferred to and maintained as part of the Unloaned GIO. You may tell us how much of the accelerated payment is to be transferred from your value in each variable investment option and your value in the MSO. Units will be redeemed from each variable investment option sufficient to cover the amount of the accelerated payment that is allocated to it and transferred to the Unloaned GIO. Any portion of the payment allocated to the MSO based on your instructions will be deducted from any value in the MSO Holding Account and the individual Segments on a pro-rata basis, based on any value in the MSO Holding Account and the current Segment Distribution Value of each Segment, and transferred to the Unloaned GIO. Any portion of the payment allocated to an individual Segment will cause a ~~corresponding Early Distribution Adjustment of the Segment Account Value. If~~ you do not tell us how to allocate the payment, or if we cannot allocate it based on your directions, we will allocated it based on our rules then in effect. Allocation rules will be provided upon request. Such transfers will occur as of the date we approve an accelerated death benefit payment. There will be no charge for such transfers. Please see the appropriate variable life insurance policy prospectus for more information.

corresponding Early Distribution Adjustment of the Segment Account Value. If you do not tell us how to allocate the payment, or if we cannot allocate it based on your directions, we will allocated it based on our rules then in effect. Allocation rules will be provided upon request. Such transfers will occur as of the date we approve an accelerated death benefit payment. There will be no charge for such transfers. Please see the appropriate variable life insurance policy prospectus for more information.

Asset Rebalancing Service

If you are invested in MSO, you may also elect the Asset Rebalancing Service. However, any amounts allocated to the MSO will not be included in the rebalance transactions. The investment options available to your Asset Rebalancing Service do not include the MSO Holding Account or Segments. Please see the appropriate variable life insurance policy prospectus for more information.

Requested Face Amount Increases

Please refer to the appropriate variable life insurance policy prospectus for conditions that will apply for a requested face amount increase.

If you wish to make a face amount increase during a Segment Term, the MSO requires that a minimum amount of policy account value be available to be transferred into the Unloaned GIO (if not already present in the Unloaned GIO), and that the balance after deduction of monthly charges remain there during the longest remaining Segment Term subject to any loans as described above. This minimum amount will be any amount necessary to supplement the existing Charge Reserve Amount so as to be projected to be sufficient to cover all monthly deductions during the longest remaining Segment Term. Such amount will be determined assuming at the time such calculation is made that no interest or investment performance is credited to or charged against the policy account value, and that no further policy changes or additional premium payments are made.

Any necessary transfers to supplement the amount already present in the Unloaned GIO in order to meet this minimum requirement will take effect on the effective date of the face amount increase. There will be no charge for this transfer. Any transfer from the variable investment options including the MSO Holding Account will be made in accordance with your directions. Your transfer instructions will be requested as part of the process for requesting the face amount increase. If the requested allocation is not possible due to insufficient funds, the required amount will be transferred proportionately from the variable investment options, as well as the MSO Holding Account. If such transfers are not possible due to insufficient funds, your requested face amount increase will be declined.

Your right to cancel within a certain number of days

Please refer to the appropriate variable insurance policy prospectus for more information regarding your right to cancel your policy within a certain number of days and the Investment Start Date, which is the business day your investment first begins to earn a return for you. However, the policy prospectus provisions that address when

~~Investment~~20 Start Date, which is the business day your investment first begins to earn a return for you. However, the policy prospectus provisions that address when amounts will be allocated to the investment options do not apply to amounts allocated to the MSO.

amounts will be allocated to the investment options do not apply to amounts allocated to the MSO.

In those states that require us to return your premium without adjustment for investment performance within a certain number of days, we will initially put all amounts which you have allocated to the MSO into our EQ/Money Market investment option. If we have received all necessary requirements for your policy as of the day your policy is issued, on the first business day following the later of the twentieth day after your policy is issued or the Investment Start Date (30th day in most states if your policy is issued as the result of a replacement), we will re-allocate those amounts to the MSO Holding Account where they will remain until the next available Segment Start Date, at which time such amounts will be transferred to a new Segment of the MSO subject to meeting the conditions described in this Prospectus. However, if we have not received all necessary requirements for your policy as of the day your policy is issued, we will re-allocate those amounts to the MSO Holding Account on the 20th day (longer if your policy is issued as the result of a replacement) following the date we receive all necessary requirements to put your policy in force at our Administrative Office. Your financial professional can provide further information on what requirements may apply to your policy.

In all other states, any amounts allocated to the MSO will first be allocated to the MSO Holding Account where they will remain for 20 days (unless the policy is issued as the result of a replacement, in which case amounts in the MSO Holding Account will remain there for 30 days (45 days in Pennsylvania)). Thereafter, such amounts will be transferred to a new Segment of the MSO on the next available Segment Start Date, subject to meeting the conditions described in this Prospectus.

Segment Maturity GIO Limitation

Upon advance notification, we reserve the right to limit the amount of your Segment Maturity Value that may be allocated to the guaranteed interest option. However, that limitation will never be less than 5% of your Segment Maturity Value. We will transfer any portion of your Segment Maturity Value that is allocated to the guaranteed interest option in excess of the Segment Maturity GIO Limitation to the EQ/Money Market variable investment option unless we receive your instructions prior to the Segment Maturity Date that the Segment Maturity Value should be allocated to the MSO Holding Account or to any other available variable investment option.

As of November 18, 2013, the Company will not exercise its right to limit the amounts that may be allocated and or transferred to the guaranteed interest option (“policy guaranteed interest option limitation”). All references to the policy guaranteed interest option limitation in your prospectus, and/or in your policy and/or in the endorsements to your policy, are not applicable. See “Appendix: Policy/rider variations” for more information.

to your policy, are not applicable. See Appendix “Policy/rider variations” for more information.

Right to Discontinue and Limit Amounts Allocated to the MSO

We reserve the right to restrict or terminate future allocations to the MSO at any time. If this right were ever to be exercised by us, all Segments outstanding as of the effective date of the restriction would be guaranteed to continue uninterrupted until the Segment Maturity Date. As each such Segment matured, the balance would be reallocated to the Unloaned GIO and/or variable investment options per your instructions, or to the EQ/Money Market investment option if no instructions are received. We may also temporarily suspend offering Segments at any time and for any reason including emergency conditions as determined by the Securities and Exchange Commission. We also reserve the right to establish a maximum amount for any single policy that can be allocated to the MSO.

Transfers are limited to an amount that will not cause the value of the MSO Holding Account and MSO Segments to be more than 50% of the total unloaned Policy Account Value. This policy account restriction does not apply to MSO Segment rollovers or to transfers initiated by our Automatic Transfer Service.

Impact of MSO Election on Other Policy Riders and/or Services

•

If your policy has the Policy Continuation Rider, and your policy goes on Policy Continuation while you have amounts invested in MSO, you will forfeit any positive Index performance and be subject to an Early Distribution Adjustment with respect to these amounts. If there is any amount remaining in the net policy account value after the Policy Continuation Rider charge has been deducted, such amounts are treated as an additional loan and refunded to you so there will be no amounts in the variable investment options or the MSO. In addition, MSO will no longer be available once you go on Policy Continuation.

•

If your policy offers and you exercise the Long-Term Care Services^SM Rider, after a period of coverage ends any MSO Segments will be terminated with corresponding Early Distribution Adjustments and you will forfeit any positive Index performance. Any remaining amounts will be allocated to the variable investment options and the GIO based on your premium allocation percentages then in effect.

•

You may tell us how much of the accelerated payment is to be transferred from your value in each variable

investment option and your value in the MSO. Units will be redeemed from each variable investment option sufficient to cover the amount of the accelerated payment that is allocated to it and transferred to the Unloaned GIO.

Any portion of the payment allocated to the MSO based on your instructions will be deducted from any value in the MSO Holding Account and the individual Segments on a pro-rata basis, based on any value in the MSO Holding Account and the current Segment Distribution Value of each Segment, and transferred to the Unloaned GIO.

Any portion of the payment allocated to an individual Segment will cause a corresponding Early Distribution Adjustment of the Segment Account Value and forfeit of Index performance. If you do not tell us how to allocate the payment, or if we cannot allocate it based on your directions, we will allocated it based on our rules then in effect. Allocation rules will be provided upon request. Such transfers will occur as of the date we approve an accelerated death benefit payment. There will be no charge for such transfers.

About Separate Account No. 67

Amounts allocated to the Equitable Financial Life Insurance Company MSO are held in a “non-unitized” separate account we have established under the New York Insurance Law. We own the assets of the separate account, as well as any favorable investment performance on those assets.

You do not participate in the performance of the assets held in this separate account. We may, subject to state law that applies, transfer all assets allocated to the separate account to our general account. These assets are also available to the insurer’s general creditors and an owner should look to the financial strength of the Company for its claims-paying ability. We guarantee all benefits relating to your value in the MSO, regardless of whether assets supporting the MSO are held in a separate account or our general account.

Our current plans are to invest separate account assets in fixed income obligations, including corporate bonds, mortgage backed and asset-backed securities, and government and agency issues. Futures, options and interest rate swaps may be used for hedging purposes.

Although the above generally describes our plans for investing the assets supporting our obligations under MSO, we are not obligated to invest those assets according to any particular plan except as we may be required to by state insurance laws.

About Separate Account LIO

Amounts allocated to the Equitable Financial Life Insurance Company of America MSO are held in a “non-unitized” separate account we have established under the Commissioner of Insurance in the State of Arizona. We own the assets of the separate account, as well as any favorable investment performance on those assets. You do not participate in the performance of the assets held in this separate account. We may, subject to state law that applies, transfer all assets allocated to the separate account to our general account. These assets are also available to the insurer’s general creditors and an owner should look to the financial strength of the Company for its claims-paying ability. We guarantee all benefits relating to your value in the MSO, regardless of whether assets supporting the MSO are held in a separate account or our general account.

Our current plans are to invest separate account assets in fixed-income obligations, including corporate bonds, mortgage-backed and asset-backed securities, and government and agency issues. Futures, options and interest rate swaps may be used for hedging purposes.

19 22

56. Distribution of the policies

The ~~MSO is only available only under certain variable life insurance~~ policies ~~issued~~are distributed by ~~the~~both ~~Company.~~Equitable ~~Extensive information~~Advisors about the arrangements for distributing the variable life insurance policies, including sales compensation, is included under “Distribution of the Policies” in the appropriate variable life insurance policy prospectus and ~~in the~~Equitable ~~statement of additional information that relates to that prospectus~~Distributors. ~~All~~The ofDistributors ~~that~~serve ~~information~~as ~~applies~~principal underwriters ~~regardless~~ of ~~whether~~Separate ~~you~~Account ~~choose~~FP ~~to use the MSO,~~ and ~~there~~Variable isAccount noK. ~~additional~~The ~~plan~~offering of ~~distribution or sales compensation with respect to~~ the ~~MSO. There~~policies is ~~also~~intended ~~no change~~ to ~~the~~be ~~information regarding the fact that the principal underwriter(s) is an affiliate of the Company or an indirect wholly owned subsidiary of Equitable Financial Life Insurance Company~~continuous.

20The MSO is available under certain variable life insurance policies issued by the Company. Extensive information about the arrangements for distributing the variable life insurance policies, including sales compensation, is included under “Distribution of the Policies” in the variable life insurance policy prospectus and in the statement of additional information. All of that information applies regardless of whether you choose to use the MSO, and there is no additional plan of distribution or sales compensation with respect to the MSO. There is also no change to the information regarding the fact that the principal underwriter(s) is an affiliate of the Company or an indirect wholly owned subsidiary of the Company.

6.23 ~~Additional Information~~

~~Rule 12h-~~7 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), exempts an insurance company from filing reports under the Exchange Act when the insurance company issues certain types of insurance products that are registered under the Securities Act of 1933 and such products are regulated under state law. ~~The~~Additional ~~units~~Information of the Market Stabilizer Option® described in this Prospectus fall within the exemption provided under rule 12h-7. The Company relies on the exemption provided under rule 12h-7, and does not file reports under the Exchange Act.

Rule 12h-7 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), exempts an insurance company from filing reports under the Exchange Act when the insurance company issues certain types of insurance products that are registered under the Securities Act of 1933 and such products are regulated under state law. The units of the Market Stabilizer Option^® described in this Prospectus fall within the exemption provided under rule 12h-7. Equitable Financial Life Insurance Company of America relies on the exemption provided under rule 12h-7, and does not file reports under the Exchange Act.

To the extent allowed by state law, we may refuse our consent to any assignment and/or change of owner on a nondiscriminatory basis if the change would violate or result in noncompliance with any applicable state or federal law or regulation.

Independent Registered Public Accounting Firm

The statutory-basis financial statements of Equitable Financial Life Insurance Company of America as of December 31, ~~2020~~2024 and ~~2019~~2023 and for each of the three ~~years~~ears in the period ended December 31, ~~2020~~2024 included in this Prospectus have been so included in reliance on the report of an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

provides independent audit services and certain other non-audit services to the Equitable Financial Life Insurance Company of America as permitted by the applicable SEC independence rules. address is ~~300 Madison~~214 ~~Avenue~~North Tryon Street, ~~New~~Suite ~~York~~4200, NYCharlotte, North ~~10017~~Carolina 28202.

21 24

8. Incorporation of certain documents by reference

Equitable Financial Life Insurance Company’s Annual Report on Form 10-K for the period ended December 31, 2024 (the “Annual Report”) is considered to be part of this Prospectus because it is incorporated by reference.

Equitable Financial Life Insurance Company files reports and other information with the SEC, as required by law. You may read and copy this information at the SEC’s public reference facilities at Room 1580, 100 F Street, NE, Washington, DC 20549, or by accessing the SEC’s website at www.sec.gov. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. Under the Securities Act of 1933, Equitable Financial Life Insurance Company has filed with the SEC a registration statement relating to the Market Stabilizer Option^® (the “Registration Statement”). This Prospectus has been filed as part of the Registration Statement and does not contain all of the information set forth in the Registration Statement.

After the date of this Prospectus and before we terminate the offering of the securities under the Registration Statement, all documents or reports we file with the SEC under the Securities Exchange Act of 1934 (“Exchange Act”), will be considered to become part of this Prospectus because they are incorporated by reference.

Any statement contained in a document that is or becomes part of this Prospectus, will be considered changed or replaced for purposes of this Prospectus if a statement contained in this Prospectus changes or is replaced. Any statement that is considered to be a part of this Prospectus because of its incorporation will be considered changed or replaced for the purpose of this Prospectus if a statement contained in any other subsequently filed document that is considered to be part of this Prospectus changes or replaces that statement. After that, only the statement that is changed or replaced will be considered to be part of this Prospectus.

We file the Registration Statement and our Exchange Act documents and reports, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, electronically according to EDGAR. The SEC maintains a website that contains reports, proxy and information statements, and other information regarding registrants that file electronically with the SEC. The address of the site is www.sec.gov.

Upon written or oral request, we will provide, free of charge, to each person to whom this Prospectus is delivered, a copy of any or all of the documents considered to be part of this Prospectus because they are incorporated herein. In accordance with SEC rules, we will provide copies of any exhibits specifically incorporated by reference into the text of the Exchange Act reports (but not any other exhibits). Requests for documents should be directed to:

Equitable Financial Life Insurance Company

Life Operations Center

1345 Avenue of the Americas

New York, NY 10105

Attention: Corporate Secretary (telephone: (212) 554-1234) You can access our website at www.equitable.com.

Independent Registered Public Accounting Firm

The consolidated financial statements and financial statement schedules of Equitable Financial Life Insurance Company incorporated in this Prospectus by reference to the Annual Report on Form 10-K for the year ended December 31, 2024 have been so incorporated in reliance on the report of , an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

provides independent audit services and certain other non-audit services to Equitable Financial Life Insurance Company as permitted by the applicable SEC independence rules, and as disclosed in Equitable Financial Life Insurance Company’s Form 10-K. address is 300 Madison Avenue, New York, New York 10017.

Appendix: Policy/rider variations

This Appendix reflects policy/rider variations that differ from what is described in this rider or in your prospectus but may have been in effect at the time your policy/rider was issued. If you purchased your policy/rider during the “Approximate Time Period” below, the noted variation may apply to you. Your policy/rider may have been available in your state past the approximate end date indicated below. For more information about your particular features, charges and options available under your policy/rider based upon when you purchased it, please contact your financial professional and/or refer to your policy/rider.

Approximate time Period	Feature/benefit	Variation
November 18, 2013 to present	Guaranteed interest option (“GIO”) limitation	The Company will not exercise its right to limit the amounts that may be allocated and or transferred to the guaranteed interest option (“policy guaranteed interest option limitation”). All references to the policy guaranteed interest option limitation in your prospectus, and/or in your policy and/or in the endorsements to your policy, are not applicable.
September 19, 2009 – November 18, 2013	Guaranteed interest option (“GIO”) limitation	Any reference to the policy guaranteed interest option limitation is inapplicable.

22 26

Appendix: Early Distribution Adjustment Examples

Hypothetical Early Distribution Adjustment Examples

A. Examples of Early Distribution Adjustment to determine Segment Distribution Value

The following examples represent a policy owner who has invested in both Segments 1 and 2. They are meant to show how much value is available to a policy owner when there is aan ~~full~~Early ~~surrender~~Distribution ~~of the policy by the policy owner or other full distribution~~ from these Segments as well as the impact of Early Distribution Adjustments on these Segments. The date of such hypothetical surrender or distribution is the Valuation Date specified below and, on that date, the examples assume 9 months remain until Segment 1’s maturity date and 3 months remain until Segment 2’s maturity date.

Explanation of formulas and derivation of Put Option Factors is provided in notes (1)-(3) below.

Division of MSO into Segments	Segment 1 (Distribution after 3 months)	Segment 2 (Distribution after 9 months)	Total
Start Date	3rd Friday of July, Calendar Year Y	3rd Friday of January, Calendar Year Y
Maturity Date	3rd Friday of July, Calendar Year Y+1	3rd Friday of January, Calendar Year Y+1
Segment Term	1 year	1 year
Valuation Date	3rd Friday of October, Calendar Year Y	3rd Friday of October, Calendar Year Y
Initial Segment Account	1,000	1,000	2,000
Variable Index Benefit Charge	0.075%	0.075%
Remaining Segment Term	9 months / 12 months = 9/12 = 0.75	3 months / 12 months = 3/12 = 0.25

Example I – The Index is down 10% at the time of the Early Distribution Adjustment

Change in Index Value	–10%	–10%	Total
Put Option Factor	0.~~079765~~020673	0.~~045706~~003425
Early Distribution Adjustment	Put Option Component: 1000 * 0.~~079765~~020673 = 7920.7767 Charge Refund Component: 1000 * 0.75 * (0.0075 / (1 – 0.0075)) = 5.67 Total EDA: 20.67 – 5.67 = 15.00	Put Option Component: 1000 * 0.~~045706~~003425 = 453.7143 Charge Refund Component: 1000 * 0.25 * (0.0075 / (1 – 0.0075)) = 1.89 Total EDA: 3.43 – 1.89 = 1.54	~~125~~16.4754
Segment Distribution Value	1000 – 7915.7700 = ~~920~~985.2300	1000 – 451.7154 = ~~954~~998.2946	1,~~874~~983.5346
Total % change in Segment Account Value due to the EDA	-8.0%	-4.6%
% change in principal due to the Put Option Component	-2.067%	-0.343%
% change in principal due to the Charge Refund Component	0.567%	0.189%
Total % change in Segment Account Value due to the EDA	-1.50%	-0.15%

Example II – The Index is up 10% at the time of the Early Distribution Adjustment

Change in Index Value	10%	10%	Total
Put Option Factor	0.~~021492~~003229	0.~~002964~~000037
	Put Option Component: 1000 * 0.021492 = 21.49	Put Option Component: 1000 * 0.002964 = 2.96
	Put Option Component: 1000 * 0.003229 = 3.23 Charge Refund Component: 1000 * 0.75 * (0.0075 / (1 - 0.0075)) = 5.67 Total EDA: 3.23 – 5.67 = –2.44	Put Option Component: 1000 * 0.000037 = 0.04 Charge Refund Component: 1000 * 0.25 * (0.0075 / (1 - 0.0075)) = 1.89 Total EDA: 0.04 – 1.89 = –1.85
Early Distribution Adjustment			24–4.4629
Segment Distribution Value	1000 – 21(–2.4944) = ~~978~~1002.5144	1000 – 2(–1.9685) = ~~997~~1001.0485	12,~~975~~004.5429
Total % change in Segment Account Value due to the EDA	-2.1%	-0.3%
% change in principal due to the Put Option Component	-0.323%	-.004%
% change in principal due to the Charge Refund Component	0.567%	0.189%
Total % change in Segment Account Value due to the EDA	0.244%	0.185%

Example III – The Index is down 40% at the time of the Early Distribution Adjustment

Change in Index Value	–40%	–40%	Total
Put Option Factor	0.~~303317~~163397	0.~~300557~~152132
Early Distribution Adjustment	Put Option Component: 1000 * 0.~~303317~~163397 = ~~303~~163.3240 Charge Refund Component: 1000 * 0.75 * (0.0075 / (1 – 0.0075)) = 5.67 Total EDA: 163.40 – 5.67 = 157.73	Put Option Component: 1000 * 0.~~300557~~152132 = ~~300~~152.5613 Charge Refund Component: 1000 * 0.25 * (0.0075 / (1 – 0.0075)) = 1.89 Total EDA: 152.13 – 1.89 = 150.24	~~603~~307.8797
Segment Distribution Value	1000 – ~~303~~157.3273 = ~~696~~842.6827	1000 – ~~300~~150.5624 = ~~699~~849.4476	1,~~396~~692.1303
Total % change in Segment Account Value due to the EDA	-30.3%	-30.1%
% change in principal due to the Put Option Component	-16.34%	-15.213%
% change in principal due to the Charge Refund Component	0.567%	0.189%
Total % change in Segment Account Value due to the EDA	-15.773%	-15.024%

Example IV – The Index is up 40% at the time of the Early Distribution Adjustment

Change in Index Value	40%	40%	Total
Put Option Factor	0.~~001981~~000140	0.~~000008~~000000
Early Distribution Adjustment	Put Option Component: 1000 * 0.~~001981~~000140 = 0.14 Charge Refund Component: 1000 * 0.75 * (0.0075 / (1 – 0.980075)) = 5.67 Total EDA: 0.14 – 5.67 = –5.53	Put Option Component: 1000 * .000000 = 0.~~000008~~00 Charge Refund Component: 1000 * 0.25 * (0.0075 / (1 – 0.0075)) = 1.89 Total EDA: 0.0100 – 1.89 = –1.89	1–7.9942
Segment Distribution Value	1000 – 1(–5.9853) = ~~998~~1005.0253	1000 – 0(–1.0189) = ~~999~~1001.9989	12,~~998~~007.0142
Total % change in Segment Account Value due to the EDA	-0.2%	0.0%
% change in principal due to the Put Option Component	-0.014%	0%
% change in principal due to the Charge Refund Component	0.567%	0.189%
Total % change in Segment Account Value due to the EDA	0.553%	0.189%

(1) Early Distribution Adjustment = (Segment Account Value) x [ (Put Option Factor) – (Number of days between Valuation Date and Maturity Date) /( Number of days between Start Date and Maturity Date) x ( 0.~~0090~~0075 / (1 – 0.~~0090~~0075) )]. The denominator of the charge refund component of this formula, i.e., “(1 – 0.0075),” is an adjustment that is necessary in order for the pro rata refund of the Variable Index Benefit Charge to be based on the gross amount on which that charge was paid by the policy owner on the Segment Start Date.

(2)	Segment Distribution Value = (Segment Account Value) – (Early Distribution Adjustment).

(3)

Derivation of Put Option Factor: In practice, the Put Option Factor will be calculated based on a Black Scholes model, with input values which are consistent with current market prices. We will utilize implied volatility quotes – the standard measure used by the market to quote option prices – as an input to a Black Scholes model in order to derive the estimated market prices. The input values to the Black Scholes model that have been utilized to generate the hypothetical examples above are as follows: (1) Implied volatility – 25%; (2) OIS rate corresponding to remainder of segment term – 1.09% annually; (3) Index dividend yield – 2% annually.

[B. Example of an Early Distribution Adjustment corresponding to a loan allocated to Segments, for the Segment Distribution Values and Segment Account Values listed above for a change in Index Value of –40%

This example is meant to show the effect on a policy if, rather than a full distribution, you took a loan in the circumstances outlined in Example III above when the Index is down 40%. Thus the policy owner is assumed to have an initial Segment Account Value of 1,000 in each of Segment 1 and Segment 2. It is also assumed that 9 months remain until Segment 1’s maturity date and 3 months remain until Segment 2’s maturity date.

Loan Amount: 750

Loan Date: 3rd Friday of October, Calendar Year Y

Explanation of formulas is provided in notes (a)-(d) below.

The Index is down 40% at the time of the Early Distribution Adjustment


Change in Index Value	–40%	–40%	Total
Segment Account Value before Loan	1,000.00	1,000.00	2,000.00
Loan Allocation^(a)	373.34	376.66	750.00
Early Distribution Adjustment^(b)	69.91	66.59	136.55
Segment Account Value after Loan^(c)	556.73	556.72	1,113.45
Segment Distribution Value after Loan^(d)	468.93	473.10	942.03

(a)

When more than one Segment is being used, we would allocate the loan between the Segments proportionately to the Segment Distribution Value in each. We take the Segment Distribution Value of each Segment (shown in Example III above) and divide it by the total Segment Distribution Values for Segments 1 and 2. This gives us the proportionate amount of the loan that should be allocated to each Segment. For example, for Segment 1, that would be 750 x (842.27/1,692.03) = 373.34

(b)

This is the Early Distribution Adjustment that would be deducted from each Segment, as a result of the loan, based on the amount of the loan that is allocated to that Segment. It is equal to a percentage of the Early Distribution Adjustment that would apply if a full distribution from the Segment were being made, rather than only a partial distribution. This percentage would be 44.32545% for Segment 1 in this example: i.e., 373.34 (the amount of reduction in Segment Distribution Value as a result of the loan) divided by 842.27 (the Segment Distribution Value before the loan). Thus, the Early Distribution Adjustment that is deducted for Segment 1 due to the loan in this example would be 69.91 (i.e., 44.32545% of the 157.73 Early Distribution adjustment shown in Example III above that would apply if a full rather than only a partial distribution from the Segment were being made). Of this 69.91, 72.43 would be attributable to the Put Option Component and -2.51 would be attributable to the Charge Refund Component (which are calculated by applying 44.32545% to the 163.40 Put Option Component and the 5.67 Charge Refund Component shown in Example III). Similarly, the Early Distribution Adjustment deducted as a result of the loan from Segment 2 would be 66.59, of which 67.43 would be attributable to the Put Option Component and -0.84 would be attributable to the Charge Refund Component.

(c)	The Segment Account Value after Loan represents the Segment Account Value before Loan minus the Loan Allocation and the Early Distribution Adjustment. For example, for Segment 1, that would be 1,000 – 373.34 – 69.93 = 556.73.

(d) Segment Distribution Value after Loan represents the amount a policy owner would receive from a Segment if they decided to surrender their policy immediately after this loan transaction. We would take the pre-loan Segment Distribution Value (shown in Example III above) and subtract the Loan Allocation. For example, for Segment 1, that would be 842.27 – 373.34 = 468.93.]

25 29

Equitable Financial Life Insurance Company of America

SUPPLEMENT DATED MAY 1, 2021 TO PROSPECTUS DATED MAY 1, 2021 FOR Equitable OptimizerSM

This Supplement concerns an additional investment option under our Equitable OptimizerSM policy (“your policy”). The additional investment option is our Market Stabilizer Option® (“MSO”), which is available to you, if you have received this Supplement. The MSO gives you the opportunity to earn interest that we will credit based in part on the performance of the S&P 500 Price Return Index, excluding dividends, over approximately a one year period. Any amount that you decide to invest in the MSO is allocated to a “Segment”, each of which has a specific start date and a limited duration. On the final day of the Segment, the index-linked return associated with that Segment will be applied to your Segment Account Value (as defined in the MSO Prospectus), and may be positive, zero or negative. Please be aware that the possibility of a negative return on this investment at the end of a Segment Term could result in a significant loss of principal.

The purpose of this Supplement is solely to add to the Equitable OptimizerSM Prospectus dated May 1, 2021 (the “Product Prospectus”) a very limited amount of information about the MSO. Much more complete information about the MSO is contained in a separate Market Stabilizer Option® Prospectus (“MSO Prospectus”) dated May 1, 2021. All of the information in the Product Prospectus also continues to remain applicable, except as otherwise provided in this Supplement (or any other supplement to the Product Prospectus) or in the MSO Prospectus.

Accordingly, you should read this Supplement in conjunction with the Product Prospectus (and any other supplements thereto) and the MSO Prospectus. We will send you another copy of any prospectus or supplement without charge upon request. Please contact the customer service group referenced in the Product Prospectus.

No Transfer Charges in Connection with the MSO

Although we generally reserve the right to impose up to a $25 charge for transfers under your policy, we will never apply this charge for any transfers into or out of the MSO.

Accordingly, the following language is added to footnote 7 of the Product Prospectus (which appears in the section entitled “Fee table”): Nor will this charge apply to any transfers to or from any Market Stabilizer Option® (“MSO”) that we make available as an investment option under a Policy or any transfers to or from any MSO Holding Account. Please refer to the MSO Prospectus for information about the MSO and the related “Holding Account.”

Charges for the MSO

If you allocate any of your policy account value to the MSO, several types of charges or deductions would or could result. To reflect these, the following items are added to the chart entitled “Periodic charges other than annual portfolio company expenses” of the Product Prospectus and also replace in their entirety the corresponding items in the chart in the “Fee Table Summary” section of the MSO Prospectus:

Optional rider charges	When charge is deducted	Maximum amount that may be deducted
Market Stabilizer Option® (MSO)(1)
MSO Variable Index Benefit Charge	On the MSO Segment Start Date	0.0% of the amount being transferred from the MSO Holding Account to an MSO Segment
MSO Variable Index Segment Account Charge	At the beginning of each policy month during the MSO Segment Term	1.65% calculated as an annual % of your Segment Account Value(2)
MSO loan spread(3) for Amounts of Policy Loans Allocated to MSO Segment	On each policy anniversary (or on loan termination, if earlier)	5%
MSO Early Distribution Adjustment	On surrender or other distribution (including loan) from an MSO Segment prior to its Segment Maturity Date	75% of Segment Account Value(4)

(1) Please refer to the MSO Prospectus for information about the MSO and related charges and deductions, as well as the meaning of special terms that are relevant to the MSO (such as “Segment,” “Segment Term,” “Segment Start Date,” “Segment Account Value” and “Early Distribution Adjustment”).

(2) Currently we deduct this charge at a 0.40% annual rate, rather than at the maximum rate shown.

(3) We charge interest on policy loans but credit you with interest on the amount of the policy account value we hold as collateral for the loan. The “spread” is the difference between the interest rate we charge you on a policy loan and the interest rate we credit to you on the amount of your policy account value that we hold as collateral for the loan. Please refer to the MSO Prospectus for more information.

EVM-04-21 (5.21)		#64414
NB/IF		Cat #159004 (5.21)

(4) The actual amount of Early Distribution Adjustment is determined by a formula that depends on, among other things, how a specified widely published stock market index has performed since the Segment Start Date. The maximum amount of the adjustment would occur if there is a total distribution at a time when that index had declined to zero. Please refer to the MSO Prospectus for more information about the index and Early Distribution Adjustment.

Transfers into and out of the MSO

If you elect to transfer account value to the MSO, there must be sufficient funds remaining in the guaranteed interest option to cover the Charge Reserve Amount (as defined in the MSO Prospectus). There are also additional restrictions that may apply. For more information about transfers into and out of the MSO, see “Transfers” in the “Description of the Market Stabilizer Option®” section of the MSO Prospectus.

No Paid-Up Death Benefit Guarantee or Extended No Lapse Guarantee

The paid-up death benefit guarantee and Extended No Lapse Guarantee are not applicable to your policy. Accordingly, please ignore all references to the paid-up death benefit guarantee and Extended No Lapse Guarantee in the MSO Prospectus.

How We Allocate Charges Among Your Investment Options

If you allocate any policy account value to the MSO, our procedures for allocating the policy’s monthly deductions among the investment options you are using is significantly different than in the absence of the MSO. Accordingly, the following text is added at the end of the section entitled “How we allocate charges among your investment options” of the Product Prospectus:

Substantially different procedures apply, however, if you allocate any of your policy account value to a Segment under the MSO investment option. In that case, for example, you will be required to maintain a certain amount of policy account value (the Charge Reserve Amount) in the policy’s unloaned guaranteed interest option. (You will not be subject to any Charge Reserve Amount requirement, however, at any time when none of your policy account value is invested in any MSO Segment.) The Charge Reserve Amount at the beginning of any Segment is the estimated amount required to pay all monthly deductions under your policy (including, but not limited to, charges for the MSO and any optional riders) for the remainder of the Segment Term.

While any of your policy account value is invested in any Segment, we will take all of your policy’s monthly deductions (including, but not limited to, the monthly deductions under the MSO and optional riders) solely from the unloaned guaranteed interest option, rather than from the investment options from which those charges otherwise would be deducted. If you have insufficient policy account value in the unloaned guaranteed interest option to pay a monthly deduction during any Segment Term, we will first take the balance of the deduction proportionately from any variable investment options (other than any Segments) that you are then using. But, if insufficient policy account value remains in any such other investment options to cover the full balance of the monthly deduction, we will take the remainder of the monthly deduction from any MSO Segments in which you have account value invested. We will apply these procedures for allocating deductions for policy charges automatically at any time you have any amounts invested in a Segment, and no contrary instructions from you would apply during the Segment Term.

If we have to make any distribution from an MSO Segment, including (among other things) to pay any surrender or loan proceeds or any charge deduction from a Segment, there will generally be negative consequences for you. Among other things, an Early Distribution Adjustment would apply, which would usually reduce your policy values, in many cases substantially. In some cases, such an Early Distribution Adjustment may apply without any action on your part. This could happen, for example, if the Charge Reserve Amount and funds you have invested in options other than the MSO are insufficient to pay a monthly deduction (i) due to poor investment performance of those options or (ii) due to any permitted increases in charges that we have made above their current rates.

Please refer to the MSO Prospectus for detailed information about the above procedures.

Making withdrawals from your policy

If you have allocated policy amounts to the MSO and plan to take a withdrawal from your policy, significantly different procedures and additional restrictions may apply. Please see “Withdrawals” in the “Description of the Market Stabilizer Option®” section of the MSO Prospectus for more information.

Borrowing from your policy

If you have allocated policy amounts to the MSO and plan to take a loan from your policy, significantly different procedures and additional restrictions may apply. Please see “Loans” in the “Description of the Market Stabilizer Option®” section of the MSO Prospectus for more information.

Surrendering your policy

If you have allocated policy amounts to the MSO and plan to surrender your policy, significantly different procedures and additional restrictions may apply. Please see “Cash Surrender Value, Net Cash Surrender Value and Loan Value” in the “Description of the Market Stabilizer Option®” section of the MSO Prospectus for more information.

Canceling your policy

If you have allocated policy amounts to the MSO, different procedures may apply. Please see “Your right to cancel within a certain number of days” in the “Description of the Market Stabilizer Option®” section of the MSO Prospectus for more information about canceling your policy.

Equitable Financial Life Insurance of America

525 Washington Boulevard

Jersey City, NJ 07310

Equitable OptimizerSM is issued by Equitable Financial Life Insurance Company of America

and is a service mark of Equitable Financial Life Insurance Company.

PART II

ITEM 13.

OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION

ITEM OF EXPENSE	ESTIMATEDEXPENSE
Registration fees	$	~~109.10~~
Federal taxes		N/A
State taxes and fees (based on 50 state average)		N/A
Trustees’ fees		N/A
Transfer agents’ fees		N/A
Printing and filing fees	$	50,000	*
Legal fees		N/A
Accounting fees		N/A
Audit fees	$	20,000	*
Engineering fees		N/A
Directors and officers insurance premium paid by Registrant		N/A

*	Estimated expense.

ITEM 14.

INDEMNIFICATION OF DIRECTORS AND OFFICERS

The By-Laws of Equitable Financial Life Insurance Company of America provide, in Article VI as follows:

ARTICLE VI

INDEMNIFICATION OF OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS

SECTION 1. NATURE OF INDEMNITY. The Corporation shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative, or investigative, by reason of the fact that he or she is or was or has agreed to become a director or officer of the Corporation, or is or was serving or has agreed to serve at the request of the Corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise, or by reason of any action alleged to have been taken or omitted in such capacity, and may indemnify any person who was or is a party or is threatened to be made a party to such an action, suit or proceeding by reason of the fact that he or she is or was or has agreed to become an employee or agent of the Corporation, or is or was serving or has agreed to serve at the request of the Corporation as an employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him or her or on his or her behalf in connection with such action, suit or proceeding and any appeal therefrom, if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal action or proceeding had no reasonable cause to believe his or her conduct was unlawful; except that in the case of an action or suit by or in the right of the Corporation to procure a judgment in its favor (1) such indemnification shall be limited to expenses (including attorneys’ fees) actually and reasonably incurred by such person in the defense or settlement of such action or suit, and (2) no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the Corporation unless and only to the extent that the court in which such action or suit was brought or other court of competent jurisdiction shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably

entitled to indemnity.

The termination of any action, suit or proceeding by judgment, order, settlement, conviction or upon a plea of no contest or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe that his or her conduct was unlawful.

SECTION 6. SURVIVAL; PRESERVATION OF OTHER RIGHTS. The foregoing indemnification provisions shall be deemed to be a contract between the Corporation and each director, officer, employee and agent who serves in any such capacity at any time while these provisions as well as the relevant provisions of Title 10, Arizona Revised Statutes are in effect and any repeal or modification thereof shall not affect any right or obligation then existing with respect to any state of facts then or previously existing or any action, suit or proceeding previously or thereafter brought or threatened based in whole or in part upon any such state of facts. Such a “contract right” may not be modified retroactively without the consent of such director, officer, employee or agent.

The indemnification provided by this Article shall not be deemed exclusive of any other right to which those indemnified may be entitled under any by-law, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in his or her official capacity and as to action in another capacity while holding such office, and shall continue as to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of the heirs, executors and administrators of such a person.

SECTION 7. INSURANCE. The Corporation may purchase and maintain insurance on behalf of any person who is or was a director or officer of the Corporation, or is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity or arising out of his or her status as such, whether or not the Corporation would have the power to indemnify such person against such liability under the provisions of this By-Law.

The directors and officers of Equitable Financial ~~are~~Life Insurance Company of America are insured under policies issued by X.L. Insurance Company, Arch Insurance Company, Sombo (Endurance Specialty Insurance Company), U.S. Specialty Insurance, ACE (Chubb), Chubb Insurance Company, AXIS Insurance Company, Zurich Insurance Company, AWAC (Allied World Assurance Company, Ltd.), Aspen Bermuda XS, CAN, AIG, ~~One Beacon,~~ Nationwide, Berkley, Berkshire, SOMPO, ~~CODA (~~Chubb), ~~and~~Markel ~~ARGO~~Ascot, REBowhead, ~~Ltd~~and Westfield. The annual limit on such policies is $300 million, and the policies insure the officers and directors against certain liabilities arising out of their conduct in such capacities.

ITEM 15. RECENT SALES OF UNREGISTERED SECURITIES

None

ITEM 16. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

(1). Underwriting Agreement.

(a) Wholesale Distribution Agreement dated April 1, 2005 by and between MONY Life Insurance Company of America, MONY Securities Corporation, and AXA Distributors, LLC, is incorporated herein by reference to the Registration Statement on Form S-3 (333-177419) filed on October 20, 2011.

(bi) Form of ~~Brokerage~~ the ~~General~~First ~~Agent~~Amendment ~~Sales~~dated ~~Agreement~~as ~~with~~of ~~Schedule~~October ~~and~~1, ~~Amendment~~2013, to ~~Brokerage~~the ~~General~~Whole ~~Agent~~Distribution ~~Sales~~ Agreement ~~among~~dated ~~[Brokerage~~as ~~General~~of ~~Agent]~~April ~~and AXA Distributors~~1, ~~LLC~~2005, ~~AXA~~between ~~Distributors~~MONY ~~Insurance~~Life ~~Agency, LLC, AXA Distributors~~ Insurance ~~Agency~~Company of ~~Alabama, LLC~~America and AXA Distributors ~~Insurance Agency of Massachusetts~~, LLC., incorporated herein by reference to ~~post-effective amendment no. 35 to~~ the ~~registration~~Registration ~~statement~~Statement on Form NS-41 (File No. 333-~~05539~~195491) filed on April 2019, ~~2005~~2016.

(cii) ~~Form~~Second Amendment dated as of ~~Wholesale~~August ~~Broker-Dealer~~ 1, ~~Supervisory~~2015 ~~and~~to ~~Sale~~the Wholesale Distribution Agreement ~~among~~dated ~~[Broker~~as ~~Dealer]~~of April 1, 2005 between MONY Life Insurance Company of America and AXA Distributors, LLC., incorporated herein by reference to ~~post-effective amendment no. 35 to~~ the ~~registration~~Registration ~~statement~~Statement on Form NS-41 (File No. 333-~~05593~~195491) filed on April 2019, ~~2005~~2016.

(db) Broker-Dealer and General Agent Sales Agreement ~~dated~~between ~~June 6,~~Equitable ~~2005~~Distributors, byLLC and ~~between~~Broker-Dealer ~~MONY Life Insurance Company of America~~ and ~~AXA~~General ~~Network~~Agent, ~~LLC,~~incorporated ~~previously~~herein ~~filed~~by ~~with~~reference ~~this~~to ~~registration~~the ~~statement~~Registration Statement on Form S-13 (File No. 333-~~180068~~265027) filed on ~~March~~January 1330, ~~2012~~2024.

(c) Wholesale Broker-Dealer Supervisory and Sale Agreement between the Broker-Dealer and Equitable Distributors, LLC, incorporated herein by reference to the Registration Statement on Form S-3 (File No. 333-265027) filed on January 30, 2024.

(d) Broker General Agent Agreement between Broker General Agent and Equitable Distributors, LLC, incorporated herein by reference to the Registration Statement on Form S-3 (File No. 333-265027) filed on January 30, 2024.

(i) Amendment to Brokerage General Agent Sales Agreement between Brokerage General Agency and Equitable Distributors, LLC, incorporated herein by reference to the Registration Statement on Form S-3 (File No. 333-265027) filed on January 30, 2024.

(e) General Agent Sales Agreement dated June 6, 2005, by and between MONY Life Insurance Company of America and AXA Network, LLC, previously filed with the registration statement on Form S-1 (File No. 333-180068) filed on March 13, 2012.

(i) First Amendment dated as of August 1, 2006 to General Agent Sales Agreement dated as of August 1, 2006 by and between MONY Life Insurance Company of America and AXA Network, incorporated herein by reference to Exhibit (c)(9) to the Registration Statement on Form N-6 (File No. 333-134304) filed on March 1, 2012.

(ii) Second Amendment dated as of April 1, 2008 to General Agent Sales Agreement dated as of April 1, 2008 by and between MONY Life Insurance Company of America and AXA Network, LLC, previously filed with ~~this~~the registration statement on Form S-1 (File No. 333-180068) filed on March 13, 2012.

(iii) Form of the Third Amendment to General Agent Sales Agreement dated as of October 1, 2013 by and between MONY Life Insurance Company of America and AXA Network, LLC, previously filed with ~~this~~the registration statement on Form S-1 (333-195491) on April 21, 2015.

(iv) ~~Form of the~~ Fourth Amendment to General Agent Sales Agreement dated as of October 1, 2014 by and between MONY Life Insurance Company of America and AXA Network, LLC, ~~previously~~incorporated ~~filed~~herein ~~with~~by reference to this ~~registration~~Registration ~~statement~~Statement on Form S-13 (File No. 333-~~195491~~236437) filed on March ~~April 21~~14, ~~2015~~2022.

(ev) ~~Broker-Dealer Distribution~~Fifth ~~and~~Amendment ~~Servicing~~to General Agent Sales Agreement, dated as of June 6, ~~2005~~1, ~~made~~2015 by and between MONY ~~Life~~LIFE ~~Insurance~~INSURANCE ~~Company~~COMPANY ofOF AMERICA (“MONY America”) and AXA ~~Advisors~~NETWORK, LLC and the additional affiliated entities of AXA Network, ~~previously~~LLC, ~~filed~~incorporated herein ~~with~~by reference to this ~~registration~~Registration ~~statement~~Statement on Form SN-16 (File No. 333-~~180068~~207014) ~~filed~~ on ~~March~~December 1323, ~~2012~~2015.

(vi) Sixth Amendment to General Agent Sales Agreement, dated as of August 1, 2015, by and between MONY Life Insurance Company of America (“MONY America”), an Arizona life insurance company, and AXA NETWORK, LLC, a Delaware limited liability company (“General Agent”), incorporated herein by reference to the Registration Statement on Form N-6 (File No. 333-191149) filed on April 19, 2019.

(vii) Seventh Amendment to the General Agent Sales Agreement, dated as of April 1, 2016, is by and between MONY Life Insurance Company of America (“MONY America”), an Arizona life insurance company, and AXA Network, LLC, a Delaware limited liability company (“General Agent”), incorporated herein by reference to the Registration Statement on Form N-6 (File No. 333-191149) filed on April 19, 2019.

(viii) Eighth Amendment to the General Agent Sales Agreement, dated as of November 1, 2019 is by and between MONY Life Insurance Company of America (“MONY America”), an Arizona life insurance company, and AXA Network, LLC, a Delaware limited liability company (“General Agent”), incorporated herein by reference to Registration Statement on Form N-6 (File No. 333-229238) filed on April 21, 2021.

(ix) Ninth Amendment to the General Agent Sales Agreement, dated as of October 1, 2020 is by and between Equitable Financial Life Insurance Company of America (“EFLOA”), an Arizona life insurance company, and Equitable Network, LLC, a Delaware limited liability company (“General Agent”), incorporated herein by reference to Registration Statement on Form N-6 (File No. 333-229238) filed on April 21, 2021.

(x) Tenth Amendment to General Agent Sales Agreement dated as of September 1, 2021, by and between Equitable Financial Life Insurance Company of America and Equitable Network, LLC, incorporated herein by reference to Registration Statement on Form N-4 (File No. 333-248907) filed on April 22, 2022.

(xi) Eleventh Amendment to General Agent Sales Agreement dated as of November 1, 2021, by and between Equitable Financial Life Insurance Company of America and Equitable Network, LLC, incorporated herein by reference to Registration Statement on Form N-4 (File No. 333-248907) filed on April 22, 2022.

(xii) Twelfth Amendment to the General Agent Sales Agreement, dated as of November 1, 2023 is by and between Equitable Financial Life Insurance Company of America (“Equitable America”), an Arizona life insurance company, and Equitable Network, LLC, a Delaware limited liability company (“General Agent”), incorporated herein by reference to Registration Statement on Form N-4 (File No. 333-248907) filed on April 22, 2022.

(f) Broker-Dealer Distribution and Servicing Agreement, dated June 6, 2005, made by and between MONY Life Insurance Company of America and AXA Advisors, LLC, previously filed with the registration statement on Form S-1 (File No. 333-180068) filed on March 13, 2012.

(2) Not Applicable.

(3)(i) Articles of Incorporation.

(ai) Articles of Restatement of the Articles of Incorporation of Equitable Financial Life Insurance Company of America (as Amended December 13, 2019), filed with ~~this~~the registration statement on Form S-1 on February 14, 2020.

(3)(ii) By-Laws.

(ai) By-Laws of Equitable Financial Life Insurance Company of America (as Amended December 13, 2019), filed with ~~this~~the registration statement on Form S-1 on February 14, 2020.

(4ii) ~~Form~~Amended and Restated By-Laws of ~~contract~~ Equitable Financial Life Insurance Company of America dated September 23, 2020 incorporated herein by reference to the Registration Statement on Form S-1 (file No. 333-251416) filed on April 22, 2021.

(a4) ~~Variable Indexed Option Rider (R09-30), incorporated herein by reference to Exhibit 4 to the Registration Statement (File No. 333-167938 on~~ Form ~~S-3,~~of ~~filed on September 30, 2010~~policy.

(bi) Variable Indexed Option Rider (~~ICC09-~~R09-30), ~~previously~~incorporated ~~filed~~herein ~~with~~by ~~this~~reference ~~registration~~to ~~statement~~Exhibit on4 ~~Form~~to ~~S-1~~the Registration Statement (File No. 333-~~180068)~~167938 on Form S-3, filed on ~~March~~September 1330, ~~2012~~2010.

(ii) Variable Indexed Option Rider (ICC09-R09-30), previously filed with the registration statement on Form S-1 (File No. 333-180068) filed on March 13, 2012.

(5) Opinion and consent of counsel regarding legality

(ai) Opinion and consent of ~~Shane~~Alfred ~~Daly~~Ayensu-Ghartey as to the legality of securities being registered, filed herewith.

(8) Not Applicable.

(9) Not Applicable.

(10) Material Contracts.

(ai) Services Agreement between The Mutual Life Insurance Company of New York and MONY Life Insurance Company of America, incorporated herein by reference to Post-Effective Amendment No. 22 to the registration statement on Form N-6 (File No. 333-06071) filed on April 30, 2003.

(bii) Amended and Restated Services Agreement between MONY Life Insurance Company of America and AXA Equitable Life Insurance Company dated as of February 1, 2005, incorporated herein by reference to Exhibit 10.2 to Annual Report (File No. 333-65423) on Form 10-K, filed on March 31, 2005.

(11) Not Applicable.

(12) Not Applicable.

(15) Not Applicable.

(16) Not Applicable.

(21) Not Applicable.

(23) Consents of Experts and Counsel.

(ai) Consent of independent registered public accounting firm, to be filed by ~~amendment~~Amendment.

(bii) See Item (5) above.

(24) Powers of Attorney.

(ai) Powers of Attorney, filed herewith.

(25) Not Applicable.

(26) Not Applicable.

101.INS		XBRL Instance Document, to be filed by amendment.
101.SCH		XBRL Taxonomy Extension Schema Document, to be filed by amendment.
101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document, to be filed by amendment.
101.LAB		XBRL Taxonomy Label Linkbase Document, to be filed by amendment.
101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document, to be filed by amendment.
101.DEF		XBRL Taxonomy Extension Definition Linkbase Document, to be filed by amendment.

(Ex-107) Filing Fees Table, filed herewith.

101.INS XBRL Instance Document, to be filed by Amendment.

101.SCH XBRL Taxonomy Extension Schema Document, to be filed by Amendment.

101.CAL XBRL Taxonomy Extension Calculation Linkbase Document, to be filed by Amendment.

101.LAB XBRL Taxonomy Label Linkbase Document, to be filed by Amendment.

101.PRE XBRL Taxonomy Extension Presentation Linkbase Document, to be filed by Amendment.

101.DEF XBRL Taxonomy Extension Definition Linkbase Document, to be filed by Amendment.

ITEM 17.

UNDERTAKINGS

(a)

The undersigned registrant hereby undertakes:

(1)

To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

(i)

to include any prospectus required by section 10 (a) (3) of the Securities Act of 1933;

(ii)

to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424 (b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement;

(iii)

to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;

provided, however, that paragraphs (a) (1) (i), (a) (1) (ii) and (a) (1) (iii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or Section 15 (d) of the Securities Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424 (b) that is part of this Registration Statement.

(2)

That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(3)

To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(4)

That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser, each prospectus filed pursuant to Rule 424 (b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.

(5)

That, for the purpose of determining liability of the Registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities: The undersigned Registrant undertakes that in a primary offering of securities of the undersigned Registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned Registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser: (i) Any preliminary prospectus or prospectus of the undersigned Registrant relating to the offering required to be filed pursuant to Rule 424; (ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned Registrant or used or referred to by the undersigned Registrant; (iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned Registrant or its securities provided by or on behalf of the undersigned Registrant; and (iv) Any other communication that is an offer in the offering made by the undersigned Registrant to the purchaser.

(b) ~~Insofar~~The asundersigned ~~indemnification~~registrant hereby undertakes that, for ~~liabilities~~purposes ~~arising~~of determining any liability under the Securities Act of 1933 ~~may be permitted to directors~~, ~~officers~~each ~~and~~filing ~~controlling persons~~ of the registrant’s annual report pursuant to ~~the~~Section ~~foregoing~~13(a) ~~provisions,~~ or ~~otherwise,~~15(d) ~~the registrant has been advised that in the opinion~~ of the Securities ~~and~~ Exchange ~~Commission such indemnification is against public policy as expressed in the~~ Act ~~and~~of ~~is,~~1934 ~~therefore, unenforceable. In the event~~ that ais ~~claim~~incorporated ~~for indemnification against such liabilities (other than the payment~~ by ~~the~~reference ~~registrant of expenses incurred or paid by a director, officer or controlling person of the registrant~~ in the ~~successful~~registration ~~defense~~statement ofshall ~~any~~be ~~action,~~deemed ~~suit~~to orbe ~~proceeding)~~a isnew ~~asserted~~registration bystatement ~~such~~relating ~~director,~~to ~~officer or controlling person in connection with~~ the securities ~~being~~offered ~~registered~~therein, ~~the~~and ~~registrant will, unless in~~ the ~~opinion~~offering of ~~its~~such ~~counsel~~securities ~~the~~at ~~matter~~that ~~has~~time ~~been~~shall ~~settled~~be bydeemed ~~controlling precedent, submit~~ to ~~a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will~~ be ~~governed by~~ the ~~final~~initial ~~adjudication~~bona offide ~~such~~offering ~~issue~~thereof.

(c)

Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the Registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City and State of New York, on this ~~17th~~14th day of ~~December~~February, ~~2020~~ 2025.

Equitable Financial Life Insurance Company of America (Registrant) By: /s/ ~~Shane~~Alfred ~~Daly~~Ayensu-Ghartey ~~Shane~~Alfred ~~Daly~~Ayensu-Ghartey Vice President and Associate General Counsel Equitable Financial Life Insurance Company of America

Pursuant to requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the date indicated:

PRINCIPAL EXECUTIVE OFFICER: *Mark Pearson Chief Executive Officer and Director PRINCIPAL FINANCIAL OFFICER: *~~Anders~~Robin B.Raju ~~Malmstrom Senior Executive Vice President and~~ Chief Financial Officer PRINCIPAL ACCOUNTING OFFICER: *William Eckert ~~Senior Vice President and~~ Chief Accounting Officer

*DIRECTORS: ~~Ramon~~Arlene deIsaacs-Lowe ~~Oliveira~~ Daniel G. Kaye ~~Kristi~~Francis ~~Matus~~Hondal Craig MacKay Mark Pearson Bertram Scott Charles G.T. Stonehill George Stansfield Joan Lamm-Tennant

*By: /s/ Shane Daly Shane Daly Attorney-in-Fact


*By:		/s/ Alfred Ayensu-Ghartey
		Alfred Ayensu-Ghartey
		Attorney-in-Fact

		February 14, 2025

December 17, 2020

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