View actions considered by committees, task forces, and subgroups, as well as charges, schedules, and staff links. 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. Site features products, a retirement center offering financial strategies, and a press room. What is the EquiTrust Life Insurance Company? Doing so can be difficult especially given the overwhelming amount of small print that is oftentimes associated with annuities. Call Sales Support. No product companies have endorsed the reviews on this site, nor is AnnuityGator.com compensated for reviews. EquiTrust Life Insurance Company is a stock life insurance company which was incorporated in the State of Iowa on June 3, 1966. 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. According to the lawsuit, EquiTrust designed a . The official website is also lacking common customer service options such as getting matched with an agent or requesting quotes. FBL Financial Group, Inc. is a financial services holding company, headquartered in West Des Moines, Iowa, and traded on the New York Stock Exchange under the symbol FFG. Two multi-asset, risk-controlled index options provide an extra level of diversification. All content is for educational purposes only. And just . law requires a life insurance producer to submit a form and pay a fee within 30. The insurance company also received recognition on Wards list of the Top 50 Performing Insurance Companies that same year. Our principal offices are at 5400 University Avenue, West Des Moines, Iowa 50266. Financial Ratings. Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Keep reading to learn more about this company and what it can offer you. If you have any questions or concerns regarding your EquiTrust account, you can call 866-598-3692 or submit a message via an online form. This information may be different than what you see when you visit an insurance provider, insurance agency, or insurance company website. 1991-2023 National Association of Insurance Commissioners. Explore future meetings and access past event documents. 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. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is Rider terminates if Account Value is depleted by non-LTC withdrawals or surrender. All content is posted anonymously by employees working at EquiTrust Life Insurance Company. As of 2020, the insurance company has a reported $20.7 billion in total assets. Applicant ages generally range between 55-85, and an Accelerated Death Benefit Rider is also available at no additional charge. The experience at EquiTrust varies depending on what department you work in. 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. American Republic remains focused on delivering quality coverage . 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. Even though EquiTrust offers a wide array of annuities to choose from, how can you determine which one if any is right for you? Overall, WalletHub's editors give Erie Insurance a rating of 3.4/5, as the company has a reputation for offering good . Today, its corporate headquarters is located in Chicago, Ill., where it actively gives back to the community. Products distributed by EquiTrust Insurance Marketing Services; in California doing business as EQT Insurance Marketing Services. No mention of an insurance company or its prices is an offer for life insurance, and all users and applicants shall be subject to any and all underwriting requirements by the insurance company in which you apply. On Tuesday, MJE, which Johnson founded in 1987, said it completed its planned acquisition for a "majority, controlling interest" in EquiTrust Life Insurance Company, which manages $14.5 billion in . NAIC specifications do not allow for any image or DocuSign and DocuSign Envelop PDFs. EquiTrust earns this recognition for performance from 2017 through 2021. May 1, 2008 EquiTrust Life Insurance Company (the "Company") is offering the. The carrier provides the following customer service options: EquiTrust sells its insurance products through a wide network of agents, including independent insurance agents. Sapiens simple, intuitive, device-agnostic user engagement with flexible branding and integrations enhances EquiTrust Lifes partner experience. LEARN MORE Alonzo Franklin Herndon Founder Born from a bright dream. In this material, the terms advisor and financial advisor are used as general references to licensed insurance professionals and are not intended to indicate whether the licensed insurance professional is a Registered Investment Advisor or is otherwise authorized under the law to provide financial advice. registered with the U.S. Securities and Exchange Commission as an investment adviser. Agent Pay Is Built Into the Policy. Shopping for a company? Professional development for state insurance regulators and industry professionals. Before purchasing any investment product be sure to do your own due diligence and consult a properly licensed professional should you have specific questions as they relate to your individual circumstances. September 9, 2022 @sherylwilliams_email. Surrender charges may vary by state. With such policies, your loans, withdrawals, and surrenders are taxed as income first and could be subject to an additional federal tax penalty of 10% if made before the age of 59. Who owns the EquiTrust Life Insurance Company? Most of the time, you'll see your account growing in value. We provide tools and resources to help regulators set standards and best practices, provide regulatory support functions, and educate on U.S. state-based insurance regulation. EquiTrust currently offers three life insurance products. The NAIC provides expertise, data, and analysis for insurance commissioners to effectively regulate the insurance industry and protect consumers. Read the 9th Annual B2B Sales & Marketing Data Report New: B2B Data Report! In 2016, EquiTrust surpassed $17 billion in total assets. 24 reviews. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. If you put $100,000 into an annuity, you'll see $100,000 on your statement. 4.0 . However, the insurance company is not accredited through the BBB. The Certainty Select Annuity is EquiTrusts MYGA product. 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). On average, employees at EquiTrust Life Insurance stay with the company for 3.6 years. EquiTrust, while not a large insurance company by industry standards, has a unique set of products to fit investment-minded individuals approaching or in retirement. Must pass suitability requirements. The EquiTrust Life Insurance Company provides life insurance policies that allow its clients to increase their cash flow. Since then, we have grown into national brands with a large team of researchers helping people understand all forms of insurance. Since 1996, EquiTrust has demonstrated exceptional growth by achieving $23 billion in assets under management. Browse our timeline to learn how we support insurance regulators in their mission to protect consumers and ensure fair and healthy insurance markets. EquiTrust Life is a specialized insurance company, with a focus on life insurance. The WalletHub rating is comprised of reviews from both WalletHub users and ratings on other reputable websites. Plus, there are tax advantages to owning a fixed annuity. Certain matters discussed in this press release that are incorporated herein by reference are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the safe harbor provisions of the U.S. Among the carriers consumers likely arent familiar with is EquiTrust Life Insurance Company, but this shouldnt be a deterrentwhen considering to do business with them. The carrier does have a couple of decades worth of experience under its belt in the industry now, and has a high rating through the BBB. NOTE: Some states allow companies to utilize electronic signatures in documents from companies such as DocuSign. And we do it all by standing true to our principles and offering the integrity you look for in an insurance company. We're here to help. ChoiceFour from EquiTrust Life Insurance Company is a tax-deferred annuity featuring competitive one-year renewable interest rates, access to your money, and protection of your principal.. Files on this page are PDF. Have a question or request? View contracts online. (816) 783-8089orAcctgRec@naic.org, For questions about NAIC Numbers or cocodes call: It includes a death benefit, as well as a nursing home waiver. EquiTrust Cons: Not a BBB accredited company. Many pages could stand to be fleshed out quite a bit more, and a disturbing amount of pertinent information seems to be lacking entirely. Products underwritten and issued by EquiTrust Life Insurance Company, West Des Moines, Iowa. The website also does not provide important information about claims processing. What this does, in effect, is give EquiTrust and its investment division the ability to begin growing capital immediately. This is a single-premium whole life insurance policy, which means that youll only need to make one payment to keep the policy active for your lifetime. Here at the blog, our job is to educate and inform people about the best insurance for them. Customers can call the carrier or contact their independent insurance agent if they have questions about how to file. Reviews from A.M. Best indicate an insurance companys financial strength and creditworthiness, and are based on comprehensive evaluations of the companys operating performance, business profile, and balance sheet. Just as the world continues to change and grow, EquiTrust Life Insurance Company remains in motion. West Des Moines, IA. In return, the client receives an instantly leveraged death benefit with long-term growth potential. EquiTrust Life Insurance Company. 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. Claim types include Death Claims, Nursing Home Waivers, Annuitizations, Accelerated . Equitrust ChoiceFour Fixed Annuity is a fixed annuity offering choices to balance accumulation and liquidity needs. Royal Neighbors of America Royal Choice 10 Fixed Annuity Review Royal Neighbors of America Royal Choice 7 Fixed Annuity Review. EquiTrust, a trusted provider of retirement products with a strong track record of operating performance, distributes fixed-rate and indexed annuities and life insurance through a national network . Columbus, Ohio Area. 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. The Allstate Corporation, through its subsidiaries, engages in the personal property and casualty insurance business, as well as in the life insurance, retirement, and investment products business in the United States and Canada. Such forward-looking statements may be identified by the use of the words anticipate, believe, estimate, expect, may, will, plan and similar expressions. EquiTrust Life will provide a 12 percent bonus paid over three years. These discounts often include: Your independent insurance agent can help you find more information on exact discounts offered by EquiTrust and additional ways to save money through the insurance company, helping you to get the most bang out of your buck on coverage. If you dont want to worry about missing a payment on your life insurance, you may be intrigued by EquiTrusts WealthSure Life insurance policy. The Premium Equitrust Life Insurance Company Report contains critical information including: Revenue from previous years (2010 to present) . Sales Week: EquiTrust ads bring business to your doorstep or inbox. Financial Statement Filing & Step Through Guide, Raymond G. Farmer Award for Exceptional Leadership, System for Electronic Rates and Forms Filings, Market Regulation and Consumer Affairs (D), Financial Regulation Standards and Accreditation (F), Innovation, Cybersecurity, and Technology (H), Market Conduct Annual Statement Blanks (D), Risk-Based Capital Investment Risk and Evaluation (E), Purposes and Procedures Manual of the NAIC Investment Analysis Office, Capital Adequacy (E) Task Force (Risk-Based Capital), Statutory Accounting Principles (SAP) (E) Working Group, Updates to the Accounting Practices & Procedures (AP&P) Manual, Financial Internet Filing Online User's Guide, industry-financial-filing-individual-remittance-advice.pdf, industry-financial-filing-combined-remittance-advice.pdf, industry-financial-filing-group-remittance-advice.pdf, 2022Annual 2023Quarterly Financial Statement Filing Deadlines, Annual, Quarterly, and Risk-Based Capital Approved Software Vendors, Formulas for Life, Health & Annuity Guaranty Association Assessable Premium Exhibit Part 2, Purposes & Procedures Manual of the NAIC Investment Analysis Office, Guide to Compliance with State Audit Requirements, Retaliation: A Guide to State Retaliatory Taxes, Fees, Deposits and Other Requirements, Risk-Based Capital (RBC) Forecasting Products, Statutory Accounting Principles (SAP) Self-Study Program, States' Prescribed Differences from NAIC Statutory Accounting Principles (SAP), Assistance with Annual and Quarterly Statement Completion, If your company does not have an NAIC Company code (sometimes called "NAIC Number" or "cocode"), obtain one by completing the. 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. Weve researched and reviewed hundreds of annuities over the years, and we continue to add new information to our annuity review database, which can be accessed at no cost anytime. Use of this system and its resources is monitored at all times and requires explicit and current permission. Consumers can utilize these products to not only protect themselves, but to also potentially grow and leverage their cash. Independent Review of the RiverSource Protected Advantage 6 Year Annuity Independent Review of the RiverSource Life Value Plus Bonus Annuity Independent Review of the RiverSource Life Rate Bonus 1 MYGA Annuity. 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. In February 2010, Guggenheim Partners acquired Security Benefit Corp, parent company of Rydex Funds. More. ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matchin The Life and Annuity Claims Manager is responsible for management, leadership and oversight of the Life and Annuity Claims Department overseeing death and contractual living benefits processing team. Insurer Ratings and Better Business Bureau Grade. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations. Revenue: $100 - $500 million See Exact Annual Revenue: 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 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. If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. The Ward Group analyzes the financial performance of over 700 US-based life and health insurance companies. Are Any of These Annuities Right for You? I started Insurance Blog by Chris because I have a passion for insurance. The NAIC will be working to ensure that companies have complied with electronic filing requirements and financial reporting requirements contained in the Blanks, Annual Statement Instructions and Purposes and Procedures Manual of the NAIC Investment Analysis Office,and any data validation failures are resolved. EquiTrust Life Insurance Company has an overall rating of 3.4 out of 5, based on over 16 reviews left anonymously by employees. We update our site regularly, and all content is reviewed by insurance experts. In June of 2015, Magic Johnson Enterprises (MJE) became controlling shareholder of EquiTrust. Select a state or jurisdiction for insurance department contact information. Equitrust Life Insurance Co is a incorporated in the state of Iowa. High rating through the BBB. Two multi-asset, risk-controlled index options provide an extra level of diversification. Overview. It was incorporated under the laws of Delaware on January 12, 1970 and commenced business on January 1, 1973. For questions regarding cocodes please call us at: 816-783-8600. Should you feel confident pursuing EquiTrust for your insurance needs? ]]> Guarantees subject to the claims-paying ability of EquiTrust Life Insurance Company. Our founder was born into slavery and grew This policy stands apart because it is the combination of a life insurance policy and an annuity. at 866-598-3694 or visit the Agent. The Midland Life Insurance Co. Jan 1991 - Jan 19976 years 1 month. Applicant ages generally range between 60-80. EquiTrust Life Insurance Company . Based in Northbrook, Illinois. Advertiser Disclosure: We strive to help you make confident insurance decisions. Leveraging Sapiens toolkit, the solution provides self-sufficiency and reduces total cost of ownership. To apply for this policy, you must: WealthSure also accumulates cash value. A financial services company newly renamed and offering individual and business life insurance, and annuities. Raleigh, N.C., Jun21, 2022 Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that EquiTrust Life, a leading North American life and health insurance company, has selected Sapiens' award-winning suite of e-application, illustration and . MONTHLY OVERVIEW: February updates, recaps and department news. of the law. EquiTrust even matches their employees charitable donations and pays employees for a day of volunteering during the year. Violators can and will be prosecuted to the full extent Contract E-Delivery is Here! Links for Internet Filing are provided to the right. You can also request a quote from the company online. A relative newcomer to the insurance industry, EquiTrust was established in 1996. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. 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. A+ (excellent) rating by Better Business Bureau (BBB). Insurtech Customer Success Stories; With Xceedance, Sapiens, Opal, and CommBox, SAPIENS REPORTS Q4 AND FULL YEAR 2022 FINANCIAL RESULTS, South African Insurer Hollard Group Risk Implements Sapiens for Complete Core Transformation for Life & Pensions, How to make insurance appealing to millennials, Gen Z, MS Amlin Insurance Selects Sapiens for Transformation of its Commercial Lines Operations across Multiple Countries. 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. Quotes and offers are not binding, nor a guarantee of coverage. Permission and instructions to access this system can be obtained from the SmartAsset access control Active CPA and . Equitrust was a great company at one time. Identify what your insurance needs are and how EquiTrust could meet them for you and your family. By continuing to access this system you acknowledge you are aware of and agree to these terms. Written by Equitrust Life Insurance Fast Facts. 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. 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. Report Locked. Applicants must be between 60 and 80 to apply for this policy, which also features an Accelerated Death Benefit Rider, flexible premium allocation, and index credits. 10,000+ Employees. EquiTrust is a smaller carrier in relation to competitors, yet still has more than $17 billion in assets under management. EquiTrust cannot give legal, tax or accounting advice. 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. Percentage of accumulation value by contract year: 12, 11, 10, 9, 8, 7, 6, 4, 2%. D&B Hoovers TM Wins 3 Best Of Awards from TrustRadius! Learn more Arizona Department Of Insurance 2012/2013 Annual. In 2012, Guggenheim affiliates acquired the US annuities business of Canadian insurers Industrial Alliance and Sun Life Financial. Learn more Related links form. Therefore, the PDFs cannot be made available to state insurance regulators. Privacy Policy. Brighthouse Financial is the brand name for Brighthouse Life Insurance Company, Brighthouse Life Insurance Company of NY, and New England Life Insurance Company. ANNUAL REPORT FOR REGISTERED INVESTMENT COMPANIES OMB APPROVAL: Form N-CEN. Law360 (February 15, 2018, 8:39 PM EST) -- EquiTrust Life Insurance Co. was hit with a putative class action in Florida federal court Wednesday by two policyholders who claim the company charges . EquiTrust Life Insurance Company is a trusted provider of life insurance and annuity products with a strong track record of operating performance. Equitrust Life Insurance's annual revenues are $100-$500 million, The Premium Equitrust Life Insurance Company Report. Complete the financial statements using software from an approved vendor. These ratings are considered Good, but many consumers become wary of insurance companies not rated a minimum of A or better. Website at Agents.EquiTrust.com. Sales Week: Simple technology to boost Bridge sales register for our webinar to see a demo! Independent insurance agents can help make customer service easier for you by handling claims and other concerns. In addition, FBL manages all aspects of two Farm Bureau affiliated. MARKETTWELVE BONUS INDEXfrom EquiTrust Life Insurance Company gives you benefits when markets are rising, and security when they're fluctuating. Nursing Home and Terminal Illness Waivers. EquiTrust Life Insurance Company 2023 Ratings, Founder of Huntley Wealth & Insurance Services. Our principal business is offering life insurance policies and annuity contracts. What life insurance products does the EquiTrust Life Insurance Company offer? Growth is based on current interest. Company Details EQUITRUST LIFE INSURANCE COMPANY License Status : Active NAIC Number : 62510. Transmit your filing to the NAIC via the Internet. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. All names, marks, and materials used for the reviews on this site are property of their respective owners, and not those of AnnuityGator.com. The EquiTrust Life Insurance Company may only be 25 years old, but its ratings indicate that purchasing a policy from this company could be a good investment for some consumers. You should not rely upon forward-looking statements as predictions of future events. Access forms and tools to file expense reports, review grant and zone scholarship balances, and travel guidelines. reduce returns). There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the degree of our success in our plans to leverage our global footprint to grow our sales the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions our lengthy and complex sales cycles, which do not always result in the realization of revenues the degree of our success in retaining our existing customers or competing effectively for greater market share difficulties in successfully planning and managing changes in the size of our operations the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream the challenges and potential liability that heightened privacy laws and regulations pose to our business occasional disputes with clients, which may adversely impact our results of operations and our reputation various intellectual property issues related to our business potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers systems risks related to the insurance industry in which our clients operate risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the recent novel coronavirus pandemic, which adversely affected our results of operations, or fluctuations in currency exchange rates and risks related to our principal location in Israel and our status as a Cayman Islands company. Personalized Illustrations. Allstate Corporation has reached its limit for free report views. One of the most popular types of life insurance policies for consumers on a budget is a term life insurance policy. * Financial Analysis: preparation of monthly executive financial report, annual financial report for state . 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. Our insurance industry partnerships dont influence our content.
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