Equitrust Life Insurance Co is a incorporated in the state of Iowa. 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. 2020 Annual Report to Stockholders. For more information visit https://sapiens.com or follow us on LinkedIn. In addition, premiums paid into the policy at approval see a 12% bonus immediately. Personalized Illustrations. These include the: With an index annuity, you have the opportunity to attain a nice return, based on an underlying market index (or more than one market index). Guarantees subject to the claims-paying ability of EquiTrust Life Insurance Company. For the seventh consecutive year, EquiTrust is recognized among the "Wards 50" of top life and health insurance companies. 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. 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.. September 9, 2022 @sherylwilliams_email. EquiTrust offers just one phoneline for all customer inquiries. EquiTrust Life is a specialized insurance company, with a focus on life insurance. 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. One of the most popular types of life insurance policies for consumers on a budget is a term life insurance policy. 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. Term life insurance policies only last for a set number of years, but you can get an immense amount of coverage at a very low rate, as you can see here: Many insurance companies even offer term policies that can be converted into permanent coverage without the need to reassess your inseparability. The carrier provides the following customer service options: EquiTrust sells its insurance products through a wide network of agents, including independent insurance agents. Access to every published model law, regulation, and guideline. Glassdoor gives you an inside look at what it's like to work at EquiTrust Life Insurance Company, including salaries, reviews, office photos, and more. The website also does not provide important information about claims processing. Innovation is a key pillar within EquiTrust Life, and we felt that Sapiens digital tools would enable innovation much faster than any other competitor, while providing us industry insights and best practices, said Carol Woodruff, Vice President, Information Systems with EquiTrust Life. Reviewed by In 2016, EquiTrust surpassed $17 billion in total assets. Its primary operating subsidiary, Farm Bureau Life Insurance Company, underwrites and markets a broad range of life insurance and annuities to individuals and businesses. The EquiTrust Life Insurance Company provides life insurance policies that allow its clients to increase their cash flow. Annual Reports. 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. sherylwilliams_email. Established in 1899, A.M. Best is one of the oldest rating companies in the world. View contracts online. The phoneline contact option is offered at restricted hours, Monday-Friday. 1991-2023 National Association of Insurance Commissioners. EquiTrust is a national carrier of competitive, client-friendly options, available through various distribution channels including more than 15,700 independent sales representatives and independent marketing organizations. Therefore, despite its positive surplus and solvency, its been rated just B++ by A.M. Best, as well as BBB+ by Standard & Poors. Thankfully, plenty of free resources can help you shop for your insurance, like the EquiTrust Life Insurance Company ratings from customers and company watchdogs alike. So lets examine these policies closely to discover which one could be the best fit for your needs. Doing so can be difficult especially given the overwhelming amount of small print that is oftentimes associated with annuities. 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. For questions regarding cocodes please call us at: 816-783-8600. Privacy Policy. Sales Week: Simple technology to boost Bridge sales register for our webinar to see a demo! Two Arizona senior citizens filed a proposed class-action lawsuit against EquitTrust Life Insurance Company, claiming the Iowa-based financial company duped consumers into purchasing financial products through deceptive sales practices, among other charges. Enter your ZIP code below to view companies that have cheap insurance rates. Equitrust ChoiceFour Fixed Annuity is a fixed annuity offering choices to balance accumulation and liquidity needs. Identify what your insurance needs are and how EquiTrust could meet them for you and your family. The purchase of EquiTrust aligns with Magic Johnson Enterprises' focus on diversity in the workplace, as well as rich diversity of thought, focus on the policyholders we serve and the communities in which we work and live - as . All names, marks, and materials used for the reviews on this site are property of their respective owners, and not those of AnnuityGator.com. At Annuity Gator, we take the frustration out of shopping for annuities. EquiTrust Values. Applicant ages generally range between 50-85, and a Return of Premium Rider is also available at no additional charge. Access forms and tools to file expense reports, review grant and zone scholarship balances, and travel guidelines. Call Sales Support. Since 1996, EquiTrust has demonstrated exceptional growth by achieving $23 billion in assets under management. Description. You should also note that a WealthMax Bonus Life is typically issued as a Modified Endowment Contract. Comparison shopping should be easy. 60% of employees would recommend working at EquiTrust Life Insurance Company to a friend and 83% have a positive outlook for the business. Annuity product guarantees rely on the financial strength and claims-paying ability of the issuing insurer. Click the button below to request a report when hardcopies become available. Sapiens IllustrationPro, Sapiens ApplicationPro and Sapiens DigitalSuite support EquiTrust Lifes key product offerings by providing comprehensive, new business illustrations with enhanced solutions for complex scenarios with split second calculations, and an interactive experience to reduce re-keying, resulting in fewer errors, faster time to decision and better engagement. 7100 Westown Pkwy Suite 200, West Des Moines, IA 50266-2521. Site features products, a retirement center offering financial strategies, and a press room. Given its focus on index-linked insurance vehicles, EquiTrust Life Insurance Company offers several fixed index annuities. EquiTrust will immediately credit your contract an extra 6% on any premiums paid during the first five contract years. Explore our open opportunities for your chance to join our team. Customers have reported frustration with having claims answered and processed within a reasonable timeframe. You only need to make one payment to activate a WealthPay Life policy from EquiTrust. You can also use EquiTrust Life Insurance Company reviews like this one to help you discover the right life insurance company for your needs. EquiTrust currently offers three life insurance products. Or talk to an agent now at (855) 372-0071, Massachusetts Mutual Life Insurance Company Review. 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. EquiTrust earns this recognition for performance from 2017 through 2021. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. However, for those who fit the bill, EquiTrust Life Insurance Company could be an excellent financial resource and tool. Our insurance industry partnerships dont influence our content. Our principal business is offering life insurance policies and annuity contracts. 2021 Annual Report to Stockholders. The experience at EquiTrust varies depending on what department you work in. For over 20 years, the EquiTrust Life Insurance Company has helped consumers purchase high-quality life insurance products. Get a D&B Hoovers Free Trial. Adviser or provide advice regarding specific investments. Overall, WalletHub's editors give Erie Insurance a rating of 3.4/5, as the company has a reputation for offering good . 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. You can even use life insurance to provide yourself with more financial security while youre alive. Applicant Ages: 0-85 (no IBR); 40-85 (with IBR. document.write((new Date()).getFullYear()); That just isnt up to par with other insurance companies around today. The Premium Equitrust Life Insurance Company Report contains critical information including: Revenue from previous years (2010 to present) . Access public conference call documents and information. Full-Time. This policy also comes with a graded return-of-premium rider, penalty-free withdrawals, and loans. And we do it all by standing true to our principles and offering the integrity you look for in an insurance company. at 866-598-3694 or visit the Agent. Please fill out the form below and click "Place Order" to complete your order. Rider terminates if Account Value is depleted by non-LTC withdrawals or surrender. Should you feel confident pursuing EquiTrust for your insurance needs? The following is our unbiased EquiTrust Life Insurance Company Review, and it is solely based on our own opinion. EquiTrust Life Insurance Company is a trusted provider of life insurance and annuity products with a strong track record of operating performance. A vast majority (over 95%) of these assets are considered investment grade, though . A financial services company newly renamed and offering individual and business life insurance, and annuities. Percentage of accumulation value by contract year: 12, 11, 10, 9, 8, 7, 6, 4, 2%. registered with the U.S. Securities and Exchange Commission as an investment adviser. Sales Week: EquiTrust ads bring business to your doorstep or inbox. Thats why it can be helpful to have an expert on your side who provides objective, non-biased advice. We also use content and scripts from third parties that may use tracking technologies. Trail commissions are payable annually based on the contract's Accumulation Value on the contract's anniversary date. EquiTrust has just one phoneline for customer service and all other inquiries. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. 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. Market Ten Bonus Index Annuity from EquiTrust Life Insurance Company gives you the benefits when markets are rising and protection when they're fluctuating.. Plus, there are tax advantages to owning a fixed annuity.. And the bonus isn't just in the name. High rating through the BBB. EquiTrust Life Variable Account . Erie Insurance is a pretty good insurance company, offering homeowners, business and umbrella insurance policies, in addition to auto coverage. 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. The guarantees expressed are based on the claims paying ability of EquiTrust Life Insurance Company. You will be able to make partial withdrawals without facing penalty fees after the policy has been in place for a year. Most of the time, you'll see your account growing in value. No separate claims reporting hotline. This single premium deferred annuity features guarantee periods of 3, 5, 6, 8 or 10 years. As always, conduct your own research on a variety of carriers before signing any paperwork. 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. 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). Founder of Huntley Wealth & Insurance Services. It includes a death benefit, as well as a nursing home waiver. 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 . The NAIC provides expertise, data, and analysis for insurance commissioners to effectively regulate the insurance industry and protect consumers. 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. 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. PA 2700-FM-AQ0021 2007 . Call (866) 598-3694. Additional information. Occasionally the Iowa Insurance Division will conduct a focused examination related to a particular issue involving an insurance company domiciled in another state.) 1 West Des Moines, Iowa March 12, 2013 HONORABLE Nick GERHART Commissioner of Insurance . AM Best Revises Issuer Credit Rating Outlook to Positive for EquiTrust Life Insurance Company OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of "bbb" of EquiTrust Life Insurance Company (EquiTrust) (Chicago, IL). Must pass suitability requirements. Products distributed by EquiTrust Insurance Marketing Services; in California doing business as EQT Insurance Marketing Services. Also, there are many dismal customer reviews across multiple sites detailing frustrating encounters with the insurance company, and disappointment in their coverage. All content is posted anonymously by employees working at EquiTrust Life Insurance Company. Their coverage offerings include: If youre on the market for life insurance or annuities, EquiTrust Life Insurance Company may have just the type of product youre looking for. In June of 2015, Magic Johnson Enterprises (MJE) became controlling shareholder of EquiTrust. BBB+ from Standard and Poor's. The company also has earned a Comdex rating of 43. EquiTrust offers fixed-rate and indexed annuities and life insurance and is headquartered in Chicago with operations in West Des Moines. We award EquiTrust Life Insurance a final rating of 1.5 out of 5 stars. 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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. EquiTrust has a good rating through A.M. Best, but it's not as highly rated as many other modern insurance companies. 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. By continuing to access this system you acknowledge you are aware of and agree to these terms. Sapiens ApplicationPro is a robust electronic application software that helps carriers address critical business drivers, such as decreasing timetoissue and reducing policy acquisition costs, all in an extremely intuitive and easytouse package. (816) 783-8089orAcctgRec@naic.org, For questions about NAIC Numbers or cocodes call: . Vice President of Sales and Marketing. Experienced Vice President Of Information Systems with a demonstrated history of working in the insurance industry. We are very excited to partner with EquiTrust Life on their digital transformation journey, said Jamie Yoder, Sapiens North America President & General Manager. In 2015, Magic Johnson Enterprises (MJE) became a controlling shareholder of the insurance provider. Financial Internet Filing Online User's Guide, For questions about statement filing: BestLifeRates.org, LLC. Annuity riders may be available for an additional annual premium that can provide additional benefits and income guarantees. 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 . All investing involves risk, including loss of Written by Contract E-Delivery is Here! 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. Required fields are marked *. You should not rely upon forward-looking statements as predictions of future events. Just as the world continues to change and grow, EquiTrust Life Insurance Company remains in motion. For those concerned about the underwriting process, EquiTrusts UnderWRITE-NOW Processing doesnt require applicants to undergo a medical exam to secure coverage. ANNUAL REPORT FOR REGISTERED INVESTMENT COMPANIES OMB APPROVAL: Form N-CEN. EquiTrust Life Insurance Company. Discover tools and resources to help you understand different types of insurance, claims processes, and practical tips to help support you through every stage of your life. and a multi-state licensed life insurance agent who has helped over a million Americans seek out affordable coverage, compare quotes, or get their family and businesses covered. administrators. And just . Financial Ratings. Posted: January 19, 2023. EquiTrust has a good rating through A.M. Best, but its not as highly rated as many other modern insurance companies. Dina Vince Head of Investor Relations, Sapiens. Website at Agents.EquiTrust.com. Rachael Brennan The official website is also lacking common customer service options such as getting matched with an agent or requesting quotes. 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. (Annual sales and employees). However, you wont be able to conduct an internet search for the EquiTrust stock price as this is not a publicly listed company. To apply for this policy, you must: WealthSure also accumulates cash value. Subsequent annual maximum after year 1: $250,000 Contract maximum without prior EquiTrust approval: $1,000,000. 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. Learn more Arizona Department Of Insurance 2012/2013 Annual. No flexibility and no interest in promoting anyone who won't play their mean girl games. Transmit your filing to the NAIC via the Internet. EquiTrust Life Insurance Company. 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. 10,000+ Employees. Quotes and offers are not binding, nor a guarantee of coverage. EquiTrust only offers one phoneline for customers to inquire about any of their needs, including filing claims. A glossary of insurance terms and definitions. EquiTrust Life Insurance Company is a stock life insurance company which was incorporated in the State of Iowa on June 3, 1966. SmartAsset does not Guggenheim Partners, LLC., purchased the company from FBL Financial Group, which EquiTrust was a subsidiary of since its establishment in 2003. Evolving software architectures go beyond the monolithic systems of the past, to enable more flexibility, more scalability and faster time to market. This information is designed to help you with your decision-making, and it is not intended to provide advice. BBB File Opened: 8/13/2012. 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 62510 7100 Westown Parkway, Suite 200 West Des Moines IA 50266 8772493694 We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. The third, named WealthPay LifeTM, is really a combination product. EquiTrust even matches their employees charitable donations and pays employees for a day of volunteering during the year. 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. existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. This material is not intended to provide investment advice to . Forms are available on the website to make claims filing easier. In 2012, Guggenheim affiliates acquired the US annuities business of Canadian insurers Industrial Alliance and Sun Life Financial. To compare quotes from many different insurance companies please enter your ZIP code on this page to use the free quote tool. Tap into the digital era and reimagine your engagement with customers, the visibility you provide to agents and brokers, and the agility and flexibility with which you manage your business. For more information on EquiTrust Insurance Companys Certainty Select Annuity, go HERE. Participation in the Database provides essential data for the Insurance Regulatory Information System (IRIS) Financial Ratio Reports, risk-based capital analysis, and other solvency-related reviews of individual companies, including reporting compliance and financial analysis. EquiTrust is also not currently BBB accredited, and has had several customer complaints filed against them through the organization in recent years.
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