Why it earned this rating
Our assessment
EQUI-VEST Series 801 earns a solid rating because it does what it has always done well: provide a deep variable subaccount menu inside a tax-deferred wrapper for participants in 403(b), 401(a), and similar employer plans, with low base contract charges of 1.25% before subaccount fees. It loses ground because there is no GLWB, no GMIB, no GMAB, and the optional Ratcheted Death Benefit is the only living guarantee, which puts it firmly behind newer Equitable products on flexibility.
The short version
For someone whose 403(b) or 401(a) plan offers EQUI-VEST 801, this is a reasonable accumulation chassis with a broad fund lineup and modest base costs. It is not a place to come looking for guaranteed income, since there is no GLWB or GMIB on this contract. The optional Ratcheted Death Benefit is the only meaningful living guarantee, and it is priced at a low 0.15% of account value.
Key facts
The full review
Is Equitable EQUI-VEST Series 801 a Good Annuity?
Yes, for the right buyer. It is a reasonable choice for a retirement-plan participant who wants a tax-deferred variable wrapper, broad fund choice, and is comfortable without a guaranteed living benefit. It is less appealing for someone shopping the retail market who wants a built-in income rider or modern structured-buffer protection.
Why Someone Would Buy This Annuity
The main reason to buy EQUI-VEST 801 is access. It is a career-channel product distributed through Equitable Advisors and aimed at the 403(b), 401(a), and 457 markets. Inside that channel, participants get a broad fund lineup, a relatively clean fee stack at 1.25% base expense, and the option to add a ratcheted death benefit at a very low cost. The secondary reason is the optional death-benefit ratchet, which step-ups triennially and locks in highest-anniversary values up to age 86.
Who This Annuity Is Best For
I think this annuity is best suited to a public-school teacher, university employee, hospital worker, or nonprofit staffer whose employer plan offers EQUI-VEST as one of the contract options. It is less suited to a retail buyer comparing modern VAs head-to-head, because a contemporary variable annuity will usually offer a richer mix of living benefits or structured-buffer crediting that this contract does not include.
What You're Really Buying Here
You are buying a tax-deferred accumulation chassis. The whole product is wrapped around the 89 variable subaccounts and the tax deferral inside a qualified or non-qualified retirement-plan account. There is no living benefit rider designed to lock in income, so this is not a "guaranteed paycheck" annuity. It is a fund supermarket inside an insurance chassis with a modest death benefit and an optional ratchet.
How the Core Feature Works
The contract holds your premium across any combination of 89 variable subaccounts, sourced from AllianceBernstein, BlackRock, Fidelity, J.P. Morgan, MFS, Goldman Sachs, Capital Group, Franklin, and others. Subaccounts include core indexed sleeves, target-date allocation portfolios, and managed-volatility variants. Fees on those subaccounts range from 0.53% on basic index choices like EQ/Equity 500 Index to 2.74% on specialty managers. On top of that, the contract charges 1.00% mortality and expense and 0.25% administration. The contract fee is $50, waived at $100,000 in account value.
Why the Secondary Feature Matters
The Ratcheted Death Benefit is the secondary feature that makes this contract more than a plain accumulation wrapper. For 0.15% per year, the death benefit becomes the greater of the full account value, premiums paid (adjusted for withdrawals), or the highest third-anniversary value before the annuitant reaches age 86, plus any later premiums adjusted for withdrawals. Triennial step-ups mean a stronger market window can lock in a higher floor for beneficiaries. For a buyer using this product as part of a legacy plan, that is a meaningful benefit at a small cost.
Liquidity and Surrender Schedule
Liquidity is reasonable inside a 403(b) wrapper. The contract allows 15% of account value as a penalty-free withdrawal immediately. Above that, withdrawals during years 1-5 hit a flat 6% charge, drop to 5% in year 6, and reach zero in year 7. Surrender-charge waivers exist for nursing home confinement, terminal illness, and disability. RMDs from qualified plans are typically accommodated inside the free-withdrawal framework. Even with this access, this is a long-term retirement-plan vehicle, not an emergency fund.
Fees and Tradeoffs
The base fee is 1.25%: 1.00% M&E plus 0.25% administration. Subaccount net expense ratios add to this, ranging from 0.53% to 2.74% depending on the manager. The Ratcheted Death Benefit adds another 0.15%. So an all-in cost will commonly land between roughly 1.78% and 2.50% depending on subaccount choice. The biggest tradeoff is what the contract does not offer. Without a GLWB, GMIB, or GMAB, there is no contractual income guarantee. A buyer who wants guaranteed lifetime income would need to annuitize or look at a different product.
Product snapshot
| Feature | Details |
| --- | --- |
| Product type | Variable annuity (FPDA) |
| Share class | B Share |
| Surrender schedule | 6 years (6%, 6%, 6%, 6%, 6%, 5%, 0%) |
| M&E charge | 1.00% assessed daily |
| Administration charge | 0.25% |
| Total base expense | 1.25% (excludes subaccount and rider fees) |
| Annual contract fee | $50, waived at $100,000 |
| Issue ages | 0-85 (Inherited IRA 0-70) |
| Minimum initial premium | $25,000 |
| Minimum subsequent premium | $50 (Q/NQ); $1,000 Inherited IRA; $20 monthly EFT |
| Plan types | 401(a), 403(b), IRA, NQ, Roth IRA, SEP IRA, SIMPLE IRA, Inherited IRA |
| Subaccounts | 89 variable, 0 indexed, 0 structured, 0 fixed |
| Subaccount fee range | 0.53% - 2.74% |
| Penalty-free withdrawals | 15% of account value immediately |
| Death benefit (base) | Greater of full account value or premiums paid, adjusted for withdrawals |
| Optional Ratcheted Death Benefit | 0.15% per year, triennial step-ups, issue ages 0-75 |
| Surrender waivers | Nursing home, terminal illness, disability |
| GLWB / GMWB / GMAB / GMIB | None |
| MGSV | N/A |
| State availability | Career-channel; variations approved in CA, FL, IL, MA, MS, NH, NY, PA, TX, WA |
Carrier snapshot
EQUI-VEST Series 801 is issued by Equitable Financial Life Insurance Company, the New York-domiciled life insurance subsidiary of Equitable Holdings. Equitable carries an A.M. Best rating of A and an S&P rating of A+ as disclosed in the available materials. Equitable was the #1 variable annuity provider by sales in 2024 according to Secure Retirement Institute data referenced in Equitable consumer materials. The Series 801 chassis has been on the market since 2008 and is purpose-built for the career-channel retirement-plan market.
Final take
EQUI-VEST 801 is a good fit for a retirement-plan participant whose employer plan offers it and who values a broad subaccount lineup, modest base contract costs, and the option to add a low-cost ratcheted death benefit. It is not a fit for a retail buyer who wants modern living benefits like guaranteed lifetime withdrawal or structured-buffer crediting, because the product is specifically a B-share accumulation chassis without those riders. For income-focused buyers, Equitable's Retirement Cornerstone line is the more natural place to look.