Structured Capital Strategies Premier Select review

It depends on the use case. For an advisor managing a client who needs RILA-style buffer protection but cannot commit to a multi-year surrender schedule — say, a client who might need flexibility within a year or two — Premier Select is a reasonable fit. For a buyer who plans to hold the product for many years and is comfortable with a surrender period, the standard SCS Premier with a defined surrender schedule typically offers lower all-in cost. The C-share is not a discount; it is a different cost structure that trades time commitment for a permanent annual fee.

The rational reason to choose Premier Select over the surrender-charge version comes down to one thing: liquidity flexibility. An advisor or client who wants buffer-style downside protection in a taxable account or IRA — but needs to preserve optionality for future changes — gets that here without giving up years. The explicit 1.50% fee is also easier to explain and model than implicit spread-based costs buried in cap compression. For fee-based advisors who value fee transparency and client flexibility, that clarity has practical value.

I think Premier Select is best for investors in their late 50s to mid-70s who have a meaningful allocation to equities but want a defined buffer against downside, and who are working with a fee-based advisor who prefers explicit pricing and full liquidity. It is less appealing for buyers who are purely cost-conscious, who plan to hold for a very long horizon and could tolerate a surrender schedule, or who want guaranteed lifetime income — there is no income rider here.

You are buying a registered index-linked annuity — a structure that sits between a traditional fixed indexed annuity and a variable annuity. Unlike a fixed annuity, your account value can decline if the chosen index falls far enough. Unlike a variable annuity with subaccounts, a buffer absorbs the first portion of any loss. The "Losses Covered Up To" language in the crediting menu refers to those buffer levels — the contract absorbs the first X percent of index losses, and you bear losses beyond that. In exchange for that partial protection, the upside is capped. The C-share structure means no surrender charge applies when you exit, but the 1.50% annual fee runs throughout your holding period regardless of performance.

The crediting engine here is SCS's buffer-segment structure. Each segment you allocate to runs for a defined term — either one year or a longer Term End Point duration — and is linked to one of four indices: S&P 500, Russell 2000, MSCI EAFE, or NASDAQ 100. At the end of the term, the segment credits interest based on index performance subject to a cap, and the buffer absorbs losses up to the floor level.

The five crediting method types available are Annual Point-to-Point with Losses Covered Up To, Term End Point with Losses Covered Up To, Comparative Annual Point-to-Point, Dual Performance Annual Point-to-Point, and Performance Triggered. The caps range widely depending on the segment type and index — from modest single-digit annual caps on conservative segment types to triple-digit caps on longer-term or more aggressive structures. Specific current cap rates were effective as of April 17, 2026, per the spec materials, and are subject to change at the start of each new segment term.

The optional death benefit enhancements are worth understanding. The standard death benefit is return of premium for contract holders ages 0-75 and full account value for ages 76 and up — no extra charge. Buyers who want more can elect a Highest Anniversary Value (HAV) death benefit at 0.25% annually or a Greater of Roll-Up or HAV benefit at 0.75% annually, both for ages 0-75. These are meaningful for buyers who want the annuity to function as part of a legacy plan, not just accumulation. The fees are modest but stack on top of the 1.50% contract charge, so buyers electing the enhanced death benefit should account for 1.75% to 2.25% in total annual charges against their indexed allocations.

There is no surrender schedule on this product — that is the defining feature of the C-share structure. You can exit at any time without a withdrawal charge penalty. The free-withdrawal provision allows 10% of account value annually beginning in Year 2, with a minimum $500 balance requirement, but for amounts beyond that, there is simply no surrender penalty applied.

RMD treatment is handled reasonably: RMD withdrawals in excess of the free-withdrawal amount are not subject to withdrawal charges — and since there are no withdrawal charges here, RMD flexibility is essentially unrestricted. That makes Premier Select relatively straightforward to manage inside an IRA where annual distributions are required.

The one liquidity caveat to understand is that withdrawing from an open segment before its term ends does not credit any of the segment's index-linked interest for that partial period. Timing an exit mid-segment can mean forgoing whatever gains had accrued. This is not unique to Premier Select, but it is worth planning around.

The 1.50% annual contract fee is the central tradeoff of this product. It breaks down as 0.80% product fee, 0.40% administration charge, and 0.30% other charge — assessed against Structured Investment Option amounts. This is an explicit, annual drag on account value that runs regardless of whether the index credits anything. In a year where the capped index return is 6% and the fee is 1.50%, the net is 4.50%. In a year where the index is flat, you lose 1.50% in real terms.

That is not unusual for a C-share product — it is exactly the cost structure you expect — but it means buyers should model the expected hold period carefully. If the holding period is likely to be five or more years, the cumulative fee load is substantial. The comparison that matters is the B-share or other surrender-charge versions of SCS Premier: if a buyer can accept a 6-year surrender schedule, the standard Premier likely offers better net economics over the same period.

There are no income rider fees because there is no income rider. Optional death benefit enhancements add 0.25% or 0.75% annually if elected.

Legal Entity: Equitable Financial Life Insurance Company of America

Parent: Equitable Holdings Inc.

A.M. Best Rating: A

Equitable has been issuing structured annuities under the SCS brand for well over a decade and is one of the more established names in the RILA market. The A rating from A.M. Best reflects solid financial strength. Equitable Holdings is a publicly traded company, and the SCS product line has been one of its core distribution pillars.