Separate Account I
04/27/2026 | Press release | Distributed by Public on 04/27/2026 09:45
Updating Summary Prospectus (Form 497VPU)
Basic Policy
Updating Summary Prospectus for Existing Investors
May 1, 2026
This updating summary prospectus summarizes key features of the Basic Policy. The Prospectus and Statement of Additional Information ("SAI") for Basic Policy contain more information about the policy, including its features, benefits and risks. The Prospectus and SAI are incorporated by reference into this updating summary prospectus. You can find the current Prospectus, SAI and other information about the Basic Policy online at www.equitable.com/ICSR#EQH146679. You can request this information at no cost by calling 1-800-777-6510 (for U.S. residents) or 1-704-341-7000 (outside of the U.S.) or by sending an email request to [email protected].
This product is issued by Equitable Financial Life Insurance Company (the "Company", "we", "our" and "us") with variable investment options offered under Separate Account I (the "Separate Account").
The Securities and Exchange Commission has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense.
The policy is a complex investment that involves risks, including potential loss of principal and previously credited interest. You should speak with a financial professional about the features, benefits, risks, and fees and whether the policy is appropriate for you based on your financial situation and objectives.
The policy is not a short-term investment and is not appropriate for an investor who needs ready access to cash. Withdrawals could result in withdrawal charges, taxes, and tax penalties.
All guarantees are subject to the Company's financial strength and claims paying ability.
Additional general information about certain investment products, including variable life insurance policies, has been prepared by the Securities and Exchange Commission's staff and is available at Investor.gov.
| Cat #146679 | ||
| #86110 |
Updated Information About Your Basic Policy
The information in this updating summary prospectus is a summary of certain Basic Policy features that have changed since the prospectus supplement dated May 1, 2025. This may not reflect all of the changes that have occurred since you entered into your Basic Policy.
INVESTMENT OPTIONS
There have been changes to the Appendix: "Investment options available under the policy" in this summary prospectus.
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Important Information You Should Consider About the Basic Policy (the "policy"):
| FEES AND EXPENSES | ||
| Charges for Early Withdrawals | Partial withdrawals are not allowed under this policy. | |
| Transaction Charges |
In addition to surrender charges, you may be subject to other transaction charges, including charges on each premium paid under the policy, charges in connection with requests to decrease your policy's face amount, transfer fees, and other special service charges (e.g., wire transfer charges, express mail charges, policy illustration charges, duplicate policy charges, policy history charges, and charges for returned payments). For more information on transaction charges, please refer to the "Fee Table" in the Prospectus. |
|
| Ongoing Fees and Expenses (annual charges) | In addition to transaction charges, an investment in the policy is subject to certain ongoing fees and expenses, including fees and expenses covering the cost of insurance under the policy, administration and mortality risks, and the cost of optional benefits available under the policy. Such fees and expenses will be based on characteristics of the insured (e.g., age, sex, risk class and particular health, occupational or vocational risks). You should view the information pages of your policy for rates applicable to your policy. | |
| You will also bear expenses associated with the variable investment options that you invest in (the "Portfolios") under the policy, as shown in the following table: | ||
| Annual Fee | Minimum | Maximum | ||||
| Portfolios | 0.67% | 1.08% | ||||
| Portfolio expenses are for the year ended December 31, 2025, and may be based, in part, on estimated amounts of such expenses and may change from year to year. For more information on ongoing fees and expenses, please refer to the "Fee Table" in the Prospectus and Appendix: "Investment options available under the policy" which is part of the Prospectus. | ||||||
| RISKS | ||
| Risk of Loss | You may lose money by investing in the policy. | |
| Not a Short-Term Investment | The policy is not a short-term investment and is not appropriate for an investor who needs ready access to cash. The policy is designed to provide benefits on a long-term basis. Consequently, you should not use the policy as a short-term investment or savings vehicle. Because of the long-term nature of the policy, you should consider whether purchasing the policy is consistent with the purpose for which it is being considered. | |
| Risks Associated with Investment Options | An investment in the policy is subject to the risk of poor investment performance and can vary depending on the performance of the Portfolios available under the policy. You should review the Portfolios' prospectuses before making an investment decision. Portfolio prospectuses are available at www.equitable.com/ICSR#EQH146679. | |
| For more information on the Portfolios, please refer to Appendix: "Investment options available under the policy" in the Prospectus. | ||
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| Insurance Company Risks | An investment in the policy is subject to the risks related to the Company. Any policy obligations, guarantees, or benefits are subject to the claims-paying ability of the Company. More information about the Company, including its financial strength ratings, is available at https://equitable.com/about-us/financial-strength-ratings. More information about the Company's general account can be found in "About our general account" in the Prospectus. | |
| Policy Lapse | Death benefits will not be paid if the policy has lapsed. Your policy may lapse if you do not pay your premiums on time or if any unpaid loans and accrued loan interest exceed your policy's cash value. If your policy is in default, you will be notified in writing and given an opportunity to make up the missed premium payment or a loan repayment to keep your policy in force and prevent it from lapsing. The grace period you have to make said additional payment will be 31 days long. If your policy lapses, you will be notified in writing, and you may be able to make up the missed premium or a loan repayment to restore your policy's benefits. In this case, additional requirements must also be met to restore your policy. If your policy provides for a continued insurance option, and the conditions of the option are satisfied and the option is exercised, including that there is sufficient cash value to cover the continued insurance option, then the policy will continue to remain in force subject to the terms of the continued insurance option processing. | |
| For more information on how to prevent your policy from lapsing, please refer to "The minimum amount of premiums you must pay" in the Prospectus. | ||
| RESTRICTIONS | ||
| Investments | You may allocate your premiums to any of the Portfolios set forth in Appendix: "Investment options available under the policy". We reserve the right to remove or substitute Portfolios as variable investment options under the policy. | |
| You may transfer your account value among the variable investment options of the Separate Account up to four times in a policy year. Only written transfer requests submitted to our Administrative Office may be processed for policies that are jointly owned or assigned. We reserve the right to limit policy transfers if we determine that you are engaged in a disruptive transfer activity, such as "market timing." | ||
| For more information please refer to "Investment options within your policy" and "Transfers you can make" in the Prospectus. | ||
| Optional Benefits | As a policy owner, you may be able to obtain extra benefits, which may require additional charges many of which are only available at issue. These optional benefits are described in what is known as a "rider" to the policy. | |
| Optional benefits may be subject to additional charges and payments made under these benefits are generally subject to the same transaction fees as other premium payments but may be treated differently for other purposes (e.g., certain death benefit minimums). Optional benefits are not available for all ages (or may terminate at certain ages) and underwriting classifications. We may stop offering an optional benefit at any time, unless previously elected. | ||
| For more information on optional benefits and other limitations under the policy, please refer to "Other benefits," and "Suicide and certain misstatements" in the Prospectus. | ||
| TAXES | ||
| Tax Implications | You should consult with a tax professional to determine the tax implications of an investment in and payments received under the policy. There is no additional tax benefit to the investor if the policy is purchased through a tax-qualified plan or individual retirement account (IRA). | |
| For more information on tax implications relating to policy investments, please refer to "Tax information" in the Prospectus. | ||
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| CONFLICTS OF INTEREST | ||
| Investment Professional Compensation | Some financial professionals may receive compensation for selling the policy to you, both in the form of commissions or in the form of contribution-based compensation. Financial professionals may also receive additional compensation for enhanced marketing opportunities and other services (commonly referred to as "marketing allowances"). This conflict of interest may influence the financial professional to recommend this policy over another investment. | |
| For more information on investment professional compensation, please refer to "Distribution of the policies" in the Prospectus. | ||
| Exchanges | Some investment professionals may have a financial incentive to offer you a new policy in place of the one you already own. You should only exchange your policy if you determine, after comparing the features, fees, and risks of both policies, that it is preferable to purchase the new policy, rather than continue to own your current policy. | |
| For more information on exchanges, please refer to the section titled "Future policy exchanges" in the Prospectus. | ||
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Appendix: Investment options available under the policy
The following is a list of Portfolio Companies available under the policy. More information about the Portfolio Companies is available in the prospectuses for the Portfolio Companies, which may be amended from time to time and can be found online at www.equitable.com/ICSR#EQH146679. You can request this information at no cost by calling 1-877-522-5035 or by sending an email request to [email protected].
The current expenses and performance information below reflects fees and expenses of the Portfolio Companies, but do not reflect the other fees and expenses that your policy may charge. Expenses would be higher and performance would be lower if these charges were included. Each variable investment option's past performance is not necessarily an indication of future performance.
Affiliated Portfolio Companies:
|
Current Expenses |
Average Annual Total Returns (as of 12/31/2025) |
|||||||||||||||||
| TYPE | Portfolio Company - Investment Adviser; Sub-Adviser(s), as applicable | 1 year | 5 year | 10 year | ||||||||||||||
| Equity |
EQ/Common Stock Index - Equitable Investment Management Group, LLC ("EIMG"); AllianceBernstein L.P. |
0.67% | ^ | 16.30% | 12.50% | 13.54% | ||||||||||||
| Fixed Income |
EQ/Core Plus Bond - EIMG; Brandywine Global Investment Management, LLC, Loomis, Sayles & Company, L.P. |
0.93% | ^ | 8.53% | -0.74% | 2.16% | ||||||||||||
| Fixed Income |
EQ/Intermediate Government Bond(1) - EIMG; SSGA Funds Management, Inc. |
0.62% | ^ | 5.51% | 0.30% | 1.14% | ||||||||||||
| Asset Allocation |
EQ/Moderate Allocation† - EIMG |
1.08% | 10.20% | 4.12% | 5.77% | |||||||||||||
| Cash/Cash Equivalent |
EQ/Money Market* - EIMG; Dreyfus, a division of Mellon Investments Corporation |
0.67% | 3.66% | 2.79% | 1.73% | |||||||||||||
| Equity |
Multimanager Aggressive Equity - EIMG; AllianceBernstein L.P. |
0.99% | 16.32% | 11.47% | 15.67% | |||||||||||||
| ^ |
This Portfolio's annual expenses reflect temporary fee reductions. |
| † |
EQ Managed Volatility Portfolios that include the EQ volatility management strategy as part of their investment objective and/or principal investment strategy, and the EQ/affiliated Fund of Fund Portfolios that invest in Portfolios that use the EQ volatility management strategy, are identified in the chart by a "†". See "Portfolios of the Trusts" for more information regarding volatility management. |
| * |
The Portfolio operates as a "government money market fund." The Portfolio will invest at least 99.5% of its total assets in U.S. government securities, cash, and/or repurchase agreements that are fully collateralized by U.S. government securities or cash. |
| (1) |
Effective on or about June 29, 2026, and subject to shareholder approval, SSGA Funds Management, Inc. will be replaced as a sub-adviser to the Portfolio (or an allocated portion thereof) with AllianceBernstein L.P. |
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Basic Policy
Issued by
Equitable Financial Life Insurance Company
We have filed with the Securities and Exchange Commission a Prospectus and a Statement of Additional Information ("SAI") that include additional information about the policy, the Company and Separate Account I. The Prospectus and SAI are incorporated by reference into this updating summary prospectus. The Prospectus and SAI are available free of charge. To request a copy of either document, to ask about your policy, or to make other investor inquiries, please call 1-800-777-6510 (for U.S. residents) or 1-704-341-7000 (outside of the U.S.) or by sending an email request to [email protected]. The Prospectus and SAI are also available at our website www.equitable.com/ICSR#EQH146679.
SEC Contract Identifier: C000031993
Separate Account I published this content on April 27, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 27, 2026 at 15:47 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]