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The Actuary The magazine of the Institute & Faculty of Actuaries

The Equitable Life part 94

The lengthy and contentious correspondence in your columns on the subject of Equitable Life seems, rather typically, to be generating much heat, but little light. Perhaps it would be helpful if the contestants were instead to try to provide answers to more basic questions. For example, ‘What is the utility to the policyholder of a guaranteed annuity option, if the office granting the option is free, at will, by adjusting the maturity sum, to put that policyholder in exactly the same position as one who does not have such an option in his policy?’