If you dont have an extra $10,000 lying around, though, you may want to investigate other insurance companies that offer more affordable whole life insurance policies. To be among the Ward's 50, each company must pass all safety and consistency screens, and have achieved superior performance over the five years analyzed. 1991-2023 National Association of Insurance Commissioners. . EquiTrust Life Insurance Company 2023 Ratings, Founder of Huntley Wealth & Insurance Services. Applies to partial withdrawals in excess of the penalty-free withdrawal amount. Applicant ages generally range between 50-85, and a Return of Premium Rider is also available at no additional charge. Shopping for a company? Within its annuity portfolio, EquiTrust provides fixed index products, MYGA (Multi-Year Guarantee) products, a single premium immediate annuity (SPIA), and even an annuity that offers a one-year renewable rate. Quotes and offers are not binding, nor a guarantee of coverage. 2021 Annual Report to Stockholders. Unfortunately, you cant apply for this policy if you have any pre-existing health conditions. Financial Ratings. Company number. EquiTrust Life Insurance Company is a trusted provider of life insurance and annuity products with a strong track record of operating performance. I started Insurance Blog by Chris because I have a passion for insurance. Two multi-asset, risk-controlled index options provide an extra level of diversification. EquiTrust is also not currently BBB accredited, and has had several customer complaints filed against them through the organization in recent years. EquiTrust Life Insurance Company was founded in 1996, giving the carrier just about a quarter of a centurys worth of experience in the industry today. MARKETTWELVE BONUS INDEXfrom EquiTrust Life Insurance Company gives you benefits when markets are rising, and security when they're fluctuating. The most common ethnicity at EquiTrust Life Insurance is White (76%), followed by Hispanic or Latino (11%) and Asian (7%). In June of 2015, Earvin "Magic" Johnson became majority owner of EquiTrust Life Insurance, the largest minority-owned life insurance company in the history of the country at $22 billion in assets. Annuity riders may be available for an additional annual premium that can provide additional benefits and income guarantees. This annuity features both single life and joint life payout options. For financial reporting, their fiscal year ends on December 31st. Contract E-Delivery is Here! Today, this company holds north of $17 billion in assets under management. Plus, there's the added benefit of tax advantages offered by a fixed annuity. . No official claims response timeframe promise. Contact a local independent agent in the Trusted Choice network today for assistance concerning the insurance options that are available to you. at 866-598-3694 or visit. EquiTrust Life Insurance Company is likely suitable for a very small number of consumers, but can be a great company for applicants to work with if the shoe fits. Permission and instructions to access this system can be obtained from the SmartAsset access control The website also does not provide important information about claims processing. from WalletHub and across the web. This single premium deferred annuity features guarantee periods of 3, 5, 6, 8 or 10 years. Records required to be maintained according to the Company's record retention policy, include policyowner files, orders for fund shares, daily unit value computations, bank account records, reconciliation and . Complete the financial statements using software from an approved vendor. At the annual or special meeting of shareholders, a majority of the shares entitled to vote, represented in person or by proxy, constitute a quorum for . For example, EquiTrust employees are encouraged to fill their time with charitable exploits and donate funds to non-profits. Brighthouse Financial is the brand name for Brighthouse Life Insurance Company, Brighthouse Life Insurance Company of NY, and New England Life Insurance Company. Company Profile & Annual Report for Equitrust Life Insurance Access the complete profile. Please fill out the form below and click "Place Order" to complete your order. Declining surrender charge, based on 9-year schedule. In June 2015, Magic Johnson Enterprises became the majority shareholder, making EquiTrust Life Insurance one of the largest minority-owned life insurance company in the history of the country at $25.7 billion in assets. Today, its corporate headquarters is located in Chicago, Ill., where it actively gives back to the community. of the law. For the seventh consecutive year, EquiTrust is recognized among the "Wards 50" of top life and health insurance companies. P.S If you would like to read more of our EquiTrust Life Insurance annuity reviews here are some links to check out: Your email address will not be published. View actions considered by committees, task forces, and subgroups, as well as charges, schedules, and staff links. EquiTrust Life Insurance review. Stop.Call.Confirm is a registered service markof the National Association of Insurance Commissioners. Have questions about any kind of insurance? Although not a giant, household name, EquiTrust Life Insurance Company has held a steady place within the life insurance industry since 1996, namely for its suite of indexed products. Income Rider: Includes Benefit Base bonus of 7% on first-year premiums plus Benefit Base compounds annually at 7% for up to 7 years; 1.25% annual fee on Accumulation Value; chronic-illness doubler. The NAIC provides expertise, data, and analysis for insurance commissioners to effectively regulate the insurance industry and protect consumers. 2021 Annual Report to Stockholders 1.5 MB. Access forms, tools, and resources for individuals and organizations to file forms, improve efficiency, and remain compliant. In return, the client receives an instantly leveraged death benefit with long-term growth potential. Sapiens IllustrationPro for Life & Annuities is a cloud-first, point-of-sale illustration and quoting solution, offering a fully responsive, modern, intuitive user experience for the life and annuities and health markets. A+ (excellent) rating by Better Business Bureau (BBB). Phone Number: 3127023400 Company Address: 7100 WESTOWN PARKWAY, SUITE 200 WEST DES MOINES, IA 50266 Description: Life and Health . EquiTrust, which was recently bought in October of 2011 by Guggenheim Partners, LLC., a global investment and advisory institution, is a growth-minded retirement and legacy-focused life insurance company. Variable products are distributed by Brighthouse Securities, LLC (member FINRA). Guggenheim Partners, LLC., purchased the company from FBL Financial Group, which EquiTrust was a subsidiary of since its establishment in 2003. This is the EquiTrust Life Insurance Company company profile. EquiTrust Life Annuity Account - SEC.gov. review the ongoing performance of any Adviser, participate in the management of any users account by an EquiTrust Life Insurance Company is a national carrier of competitive, client-friendly annuity products sold through a variety of distribution channels, including more than 20,000 independent . Serving over 600 customers in 30 countries, Sapiens offers insurers across property and casualty, workers compensation and life markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. Here at the blog, our job is to educate and inform people about the best insurance for them. Sapiens DigitalSuite offers a dynamic, digital engagement and enablement platform for insurers to provide a unified, omni-channel experience. You should also note that a WealthMax Bonus Life is typically issued as a Modified Endowment Contract. (816) 783-8600. Plus, there are tax advantages to owning a fixed annuity. We are very excited to partner with EquiTrust Life on their digital transformation journey, said Jamie Yoder, Sapiens North America President & General Manager. Are cheaper life insurance policies available? Overall, WalletHub's editors give Erie Insurance a rating of 3.4/5, as the company has a reputation for offering good . Additional information. However, what were most concerned with is whether or not an insurance company takes care of its hardworking customers and delivers on the coverage promises it makes. An annuity is a fixed amount of money paid to you from an insurance firm. EquiTrust Life Insurance Company has been around since 1996. You can also use EquiTrust Life Insurance Company reviews like this one to help you discover the right life insurance company for your needs. is in violation of the regulations of this system. Transmit your filing to the NAIC via the Internet. Click to subscribe for email notifications of new items posted to this page. It includes a death benefit, as well as a nursing home waiver. * Financial Analysis: preparation of monthly executive financial report, annual financial report for state . While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. The EquiTrust Life Insurance Company has changed hands many times, but it has never faltered in its mission to provide high-quality life insurance products and annuities. EquiTrust Cares is an excellent example of how this company values giving back and contributing to philanthropic organizations through paid time off for volunteering. That just isnt up to par with other insurance companies around today. EquiTrust Life Insurance Company . D&B Hoovers TM Wins 3 Best Of Awards from TrustRadius! For more information visit https://www.EquiTrust.com. Get a D&B Hoovers Free Trial. Size and financial strength arent big stand-out factors for this provider, but their unique line of insurance products gives this specialty company a solid niche market to work with for years to come. For customers who arent as familiar with insurance companies respective reputations, A.M. Bests ratings system allows them to make an informed decision about who they can trust to meet their needs in the short term, and also to remain a strong, financially sound company in the long term. This material is not intended to provide investment advice to . Sales Week: EquiTrust ads bring business to your doorstep or inbox. Founder of Huntley Wealth & Insurance Services. Products distributed by EquiTrust Insurance Marketing Services; in California doing business as EQT Insurance Marketing Services. Transform your core with next generation, digital-led solutions designed to deliver enhanced, frictionless experiences, and increase efficiency, revenue and success. The WealthMax Bonus Life policy can potentially grow since it is tied to a stock market index. platform based on information gathered from users through our online questionnaire. EquiTrust Life Insurance Company. Type of Entity: Corporation. Report Date: July 1, 2022 Company Count: 385 COMPANY NAME NAIC# PHONE# 4 Ever Life Insurance Company 80985 2 Mid America Plaza, Suite 200 Oakbrook Terrace IL 60181-4712 8889234227 . Please fill out the form below and click "Place Order" to complete your order. Click the links below for: Agent Guide. If youre looking for life insurance or annuities from an insurance company that makes its customers a priority, we strongly encourage you to work together with your independent insurance agent to survey all other options before settling on EquiTrust Life Insurance Company as your trusted carrier. Have a question or request? If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. As always, conduct your own research on a variety of carriers before signing any paperwork. EquiTrust Life Insurance Company; 7100 Westown Pkwy Suite 200; West Des Moines, IA 50266-2521; My Annuity Contracts/Life Policies; FAQs; Contact Information; My EquiTrust is a secured customer resource for current values, transaction history, updates, forms and general assistance. Domestic and international policy and outreach initiatives. Website at Agents.EquiTrust.com. Guarantees subject to the claims-paying ability of EquiTrust Life Insurance Company. Save my name, email, and website in this browser for the next time I comment. FBL Financial Group, headquartered in West Des Moines, Iowa, is a holding company whose primary operating subsidiaries are Farm Bureau Life Insurance Company and EquiTrust Life Insurance Company. Exclusive, industry-focused manuals, data, and more. Are Any of These Annuities Right for You? Report Flag as Inappropriate. One of the most popular types of life insurance policies for consumers on a budget is a term life insurance policy. Minimum Premium: $10,000 NQ/Q. law requires a life insurance producer to submit a form and pay a fee within 30. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. For more information on EquiTrust Insurance Companys Certainty Select Annuity, go HERE. The insurance company also does not offer online claims reporting through their website, which puts them far behind many other modern carriers. There are no guarantees that working with an adviser will yield positive returns. EquiTrust is one of the best life insurance companies to increase your cash flow. So lets examine these policies closely to discover which one could be the best fit for your needs. At a minimum, applicants would only need to answer medical-related questions or complete a short phone interview. Because of its high ratings, award-winning recognition, and impressive progression over time, EquiTrust Life Insurance Company has developed a reputation as a financially stable insurance company with a positive outlook for the future. The carrier is rather viewed as a financial tool for asset accumulation and estate or legacy planning. Reviewed by What is the EquiTrust Life Insurance Company? As you can see, because of the advanced nature of their life insurance products, EquiTrust is not commonly used for basic life insurance coverage, such as term life insurance. EquiTrust is a smaller carrier in relation to competitors, yet still has more than $17 billion in assets under management. Below are the most recent examination reports for each insurance company listed. ANNUAL REPORT FOR REGISTERED INVESTMENT COMPANIES OMB APPROVAL: Form N-CEN. Our opinions are our own. Applicants must be between the ages of 45 and 80. A financial services company newly renamed and offering individual and business life insurance, and annuities. EquiTrust specializes in life insurance. EquiTrust Life Insurance Company. When it comes to annuities, EquiTrust offers one-year renewable, multi-year, and index-linked accumulation products along with a single premium immediate payout annuity. For questions regarding cocodes please call us at: 816-783-8600. This page includes all SEC registration details as well as a list of all documents (S-1, Prospectus, Current Reports, 8-K, 10K, Annual Reports) filed by Equitrust Life Insurance Co. Allstate Corporation does not currently have any hardcopy reports on AnnualReports.com. American Republic remains focused on delivering quality coverage . Everything I learned was self taught with demanding deadlines and being understaffed in our department. AnnuityGator. All content is for educational purposes only. 4.0 . If your company does not have an NAIC Company code (sometimes called "NAIC Number" or "cocode"), obtain one by completing the Company Code Application. Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. To earn this prestigious title, the company must successfully ace a variety of screenings and aim for superior execution during the years specified. Here, for instance, the ChoiceFour Annuity features a one-year annual reset interest rate, and a choice of four different contract variations, including a(n): For more details on the EquiTrust Choice Four annuity, go HERE. Applicant Ages: 0-85 (no IBR); 40-85 (with IBR. You can check out all of the benefits of the Confidence Income Annuity HERE. BBB+ from Standard and Poor's. The company also has earned a Comdex rating of 43. It has also earned some pretty impressive accolades, including being recognized in 2017 and 2018 among the Wards 50 of top life and health insurance companies. Award-Winning Sales Intel. Trail commissions are payable annually based on the contract's Accumulation Value on the contract's anniversary date. Our goal is to be an objective, third-party resource for everything insurance related. Posted: January 19, 2023. Its primary operating subsidiary, Farm Bureau Life Insurance Company, underwrites and markets a broad range of life insurance and annuities to individuals and businesses. COMPANIES; REPORTS; LAWS, RULES & GUIDANCE; Company search. The company also offers roadside assistance and ridesharing coverage options. September 9, 2022 @sherylwilliams_email. You can also review index-linked life insurance offerings, such as EquiTrustsSecure SuiteLifeTM andGrowth SuiteLifeTMproducts. However, the insurance companys rating through A.M. Best is noticeably lower than many other modern carriers, despite them being known for having reputable financial strength. Nothing on this website is a recommendation to buy or sell an annuity. Applicant ages generally range between 60-80. Reviews are posted at the request of readers so they could see an independent perspective when breaking down the positives and negatives of specific annuity contracts. 1.9. Comparison shopping should be easy. EquiTrust Life Insurance Company 2022 Ratings. The MarketSeven Fixed Index Annuity from EquiTrust Life Insurance Company gives you the benefits when markets are rising and protection when they're fluctuating. These ratings are considered Good, but many consumers become wary of insurance companies not rated a minimum of A or better. Enter your ZIP code below to view companies that have cheap insurance rates. document.write((new Date()).getFullYear()); Money cant buy happiness, but purchasing a life insurance policy can give your loved ones the gift of financial security if you were to pass unexpectedly. Many customers also trust EquiTrust to handle retirement income or wealth transfer. Developments and trends in financial markets and insurer investments. Nursing Home and Terminal Illness Waivers. Rider terminates if Account Value is depleted by non-LTC withdrawals or surrender. THE ATLANTA LIFE INSURANCE COMPANY At Atlanta Life, we bring 100 years of experience to every customer we serve. The EquiTrust Life Insurance Company first opened its doors for business in 1996. No separate claims reporting hotline. The carrier provides the following customer service options: EquiTrust sells its insurance products through a wide network of agents, including independent insurance agents. Active CPA and . Now, Magic Johnson Enterprises owns a large portion of the EquiTrust Life Insurance Company. Its "A+" rating through the BBB is impressive, though. Contract issued on Form Series ICC12-ET-EIA-2000 (01-12) or ET-EIA-2000 (06-04). All names, marks, and materials used for the reviews on this site are property of their respective owners, and not those of AnnuityGator.com. All insurance rates, products, and services are presented without warranty and guarantee. Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. The insurance company also received recognition on Wards list of the Top 50 Performing Insurance Companies that same year. Magic Johnson Enterprises - comprised of multiple business entities and partnerships - acquired a controlling interest in EquiTrust in 2015. Products distributed by EquiTrust Insurance Marketing Services; in California doing business as . According to the lawsuit, EquiTrust designed a . This feature isnt available with every term life insurance policy, though, so you should also read the fine print before putting any money down. Thats why it can be helpful to have an expert on your side who provides objective, non-biased advice. On average, employees at EquiTrust Life Insurance stay with the company for 3.6 years. Counsel for plaintiffs in the case described the decision this way: "In Tabares v. EquiTrust Life Insurance Company, a class of deferred annuity purchasers alleged that although EquiTrust promised them a 10% premium bonus if they purchased one of its deferred annuities, it simply offset the amount of the bonus through lower annual rates. Choices. 7100 Westown Pkwy Suite 200, West Des Moines, IA 50266-2521. Most clients invest in an annuity to pursue accumulation or cash-flow goals. EquiTrust Life Insurance Company is a stock life insurance company which was incorporated in the State of Iowa on June 3, 1966. You will be able to make partial withdrawals without facing penalty fees after the policy has been in place for a year. Comparison shopping should be easy. Having a problem with an insurance company or agent? existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. Surrender charges may vary by state. Steps to Completing a Financial Statement Filing. The flexible, component-based platform can be leveraged together with Sapiens core solutions or on top of other (non-Sapiens) solutions. A vast majority (over 95%) of these assets are considered investment grade, though more than 40% are not invested in A or better investment classes. It only offers three life insurance products, but if you are looking to increase your cash flow, an EquiTrust Life Insurance Company policy may be the right fit for your needs. advisors. We strive to help you make confident insurance decisions. Vice President of Sales and Marketing. Our three-year blueprint for the future shows the way toward building on existing strengths. These are the three product options currently available on the market: The first, named WealthSure LifeTM, is a single premium life insurance policy, meaning the premiums for the entire durationof the policy are due upon approval. Even though EquiTrust offers a wide array of annuities to choose from, how can you determine which one if any is right for you? Experienced Vice President Of Information Systems with a demonstrated history of working in the insurance industry. EquiTrust Life is a specialized insurance company, with a focus on life insurance. Leveraging Sapiens toolkit, the solution provides self-sufficiency and reduces total cost of ownership. EquiTrust began working with independent insurance agents and expanded its reach from just 15 states to a nationwide presence in 2003. Must pass suitability requirements. Annuities and life insurance are issued by, and product guarantees are solely the responsibility of, Brighthouse Life Insurance Company, Charlotte, NC 28277 and, in New York only, by Brighthouse Life Insurance Company of NY, New York, NY 10017 (Brighthouse Financial).