The life cycle in which haploid gametophyte and diploid sporophyte phases are equally dominant is termed as-
Haplo-diplontic
There are three broad types of alternation of generation based on the dominance of one stage over the other.
Haplontic:The haploid gametophyte is the more dominant form of life.
Diplontic: The diploid sporophyte is more dominant.
Haplo-diplontic: Seen in some rare plant types where both the generations can be equally dominant.