The carrier provides the following customer service options: EquiTrust sells its insurance products through a wide network of agents, including independent insurance agents. The carrier does have solid financial strength, and A.M. Best places them in the $1.25-$1.5 billion financial size category. Reviewed by For any applicants suffering from an illness or worrying about their current state of health, you can breathe a sigh of relief. To compare quotes from many different insurance companies please enter your ZIP code on this page to use the free quote tool. Marketing & Admin News. Even though EquiTrust offers a wide array of annuities to choose from, how can you determine which one if any is right for you? 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. Sales Week: Simple technology to boost Bridge sales register for our webinar to see a demo! Today it has grown into a global brand with an entire team of passionate researchers, writers, and insurance professionals continuing the original mission Chris set out with: to make insurance simple. 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. Allstate Corporation has reached its limit for free report views. Are Any of These Annuities Right for You? Should you feel confident pursuing EquiTrust for your insurance needs? Two multi-asset, risk-controlled index options provide an extra level of diversification. 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. advisors. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); AnnuityGator.com offers independent annuity product reviews. 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. The NAIC provides expertise, data, and analysis for insurance commissioners to effectively regulate the insurance industry and protect consumers. The Ward Group analyzes the financial performance of over 700 US-based life and health insurance companies. Royal Neighbors of America Royal Choice 10 Fixed Annuity Review Royal Neighbors of America Royal Choice 7 Fixed Annuity Review. Customers can call the carrier or contact their independent insurance agent if they have questions about how to file. EquiTrust Recognized Among "Ward's 50" of Top Life and Health Insurance Companies for 2021! In February 2010, Guggenheim Partners acquired Security Benefit Corp, parent company of Rydex Funds. 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 . Market Value Index Annuity from EquiTrust Life Insurance Company gives you the benefits when markets are rising and protection when they're fluctuating. EquiTrust has a good rating through A.M. Best, but its not as highly rated as many other modern insurance companies. 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. Official website is sorely lacking. 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). Jason Fisher Last Updated: December 6, 2021, Certain links on this page will refer you to products we might recommend. 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. If, however, the underlying performs poorly in a given period, there are no losses to your account. For financial reporting, their fiscal year ends on December 31st. SmartAssets Founder of Huntley Wealth & Insurance Services. . 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 . Brighthouse Financial is the brand name for Brighthouse Life Insurance Company, Brighthouse Life Insurance Company of NY, and New England Life Insurance Company. If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. NOTE: Some states allow companies to utilize electronic signatures in documents from companies such as DocuSign. Overall, WalletHub's editors give Erie Insurance a rating of 3.4/5, as the company has a reputation for offering good . 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. 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. 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. A financial services company newly renamed and offering individual and business life insurance, and annuities. Get your Bridge toolkit today. This company has a Sustainability Report available to view on our partner site, ResponsibilityReports.com. But in 2015, Magic Johnson Enterprises, which is owned by basketball hall-of-famer Magic Johnson, bought a controlling interest in EquiTrust. Of course, with so many different life insurance carriers in the marketplace (in the hundreds these days), you should be evaluating the carrier you plan to work with way before signing any paperwork. EquiTrust has primarily focused on two main product lines: These are the two most common products with any life insurance carrier, since annuities and life insurance somewhat go hand-in-hand. A+ (excellent) rating by Better Business Bureau (BBB). Avoid market losses - guaranteed. 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. Rachael Brennan No separate claims reporting hotline. January 14 2009 - by Lucy Campbell. 1991-2023 National Association of Insurance Commissioners. What life insurance products does the EquiTrust Life Insurance Company offer? EquiTrust Pros: About a quarter of a centurys worth of experience in the insurance industry. Call (866) 598-3694. Such statements reflect our current views with respect to future events and are subject to pandemic risks and uncertainties. EquiTrust Life Insurance review. In return, the client receives an instantly leveraged death benefit with long-term growth potential. The WalletHub rating is comprised of reviews from both WalletHub users and ratings on other reputable websites. The policy shares its initial payment with an annuity, but the return collected through the annuity is eventually returned to the life insurance policy. I started Insurance Blog by Chris because I have a passion for insurance. If youre a consumer who only wants to work with financially strong companies, youll be pleased with the EquiTrust life Insurance Company financial ratings: Additionally, EquiTrust has an A+ from the Better Business Bureau. 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. Read the 9th Annual B2B Sales & Marketing Data Report New: B2B Data Report! Click the button below to request a report when hardcopies become available. 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. Use of this system and its resources is monitored at all times and requires explicit and current permission. More. Who owns the EquiTrust Life Insurance Company? Compare Quotes From Top Companies and Save. Therefore, despite its positive surplus and solvency, its been rated just B++ by A.M. Best, as well as BBB+ by Standard & Poors. When evaluating rates, please verify directly with your insurance company or agent. Access technology tools and resources for U.S. insurance regulators. For this particular review, well focus just on the life insurance side of things: With a focus on accumulation and leverage, EquiTrusts life insurance products are aligned to help consumers utilize their current cash or cash flow for growth with the future in mind. I was hired just before the annual reporting with little to no training or guidance from management. A high rating from A.M. Best assures customers that EquiTrust is capable of offering guaranteed, secure coverage from a reputable carrier. Raleigh, N.C., Jun21, 2022Sapiens 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 digital solutions to provide their agents next generation customer acquisition and service capabilities. Percentage of accumulation value by contract year: 12, 11, 10, 9, 8, 7, 6, 4, 2%. 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. 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. 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. Equitrust Life Insurance's annual revenues are $100-$500 million, The Premium Equitrust Life Insurance Company Report. Shopping for a company? American Republic Insurance Company was founded in 1929 by Watson Powell, a pioneer in the health and accident insurance business. Jackson National Perspective II Lifeguard Freedom Flex, Independent Review of EquiTrust Life Insurance Company, Independent Review of the EquiTrust Choice Four Fixed Annuity, Independent Review of the EquiTrust Certainty Select MYGA Annuity. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. Learn more Arizona Department Of Insurance 2012/2013 Annual. Award-Winning Sales Intel. Please fill out the form below and click "Place Order" to complete your order. Applicant ages generally range between 55-85, and an Accelerated Death Benefit Rider is also available at no additional charge. EquiTrust will immediately credit your contract an extra 6% on any premiums paid during the first five contract years. Licensed Insurance Agent. at 866-598-3694 or visit the Agent. The NAIC Financial Data Repository (Database) is updated every year by the National Association of Insurance Commissioners (NAIC) on behalf of and at the direction of itsmembers, the state insurance commissioners. Since 1996, EquiTrust has demonstrated exceptional growth by achieving $23 billion in assets under management. 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. This annuity features both single life and joint life payout options. And we do it all by standing true to our principles and offering the integrity you look for in an insurance company. BBB+ from Standard and Poor's. The company also has earned a Comdex rating of 43. We're here to help. You can also review index-linked life insurance offerings, such as EquiTrustsSecure SuiteLifeTM andGrowth SuiteLifeTMproducts. This serves to assist in preventing insolvencies for which liability is imposed on insurers under state guaranty fund laws. Since EquiTrusts products are distributed exclusively through independent insurance agents, clients can ensure theyre getting the best coverage at the best rate possible. Financial Ratings. 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. Insurance Blog By Chris (IBBC) was founded by life insurance agent Chris Huntley in 2008 to help educate and inform consumers on some of the most complicated aspects of insurance. That just isnt up to par with other insurance companies around today. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. All investing involves risk, including loss of 24 reviews. Browse our timeline to learn how we support insurance regulators in their mission to protect consumers and ensure fair and healthy insurance markets. (See more.) 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. No official claims response timeframe promise. We are very excited to partner with EquiTrust Life on their digital transformation journey, said Jamie Yoder, Sapiens North America President & General Manager. 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. 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). EquiTrust is also not currently BBB accredited, and has had several customer complaints filed against them through the organization in recent years. Personalized Illustrations. Sapiens DigitalSuite offers a dynamic, digital engagement and enablement platform for insurers to provide a unified, omni-channel experience. FBL currently underwrites, markets and distributes life insurance, annuities and mutual funds to individuals and small businesses. EquiTrust has just one phoneline for customer service and all other inquiries. In addition, FBL manages all aspects of two Farm Bureau affiliated. 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. Our principal offices are at 5400 University Avenue, West Des Moines, Iowa 50266. A vast majority (over 95%) of these assets are considered investment grade, though . Explore future meetings and access past event documents. Private Securities Litigation Reform Act of 1995, that are based on our beliefs, assumptions and expectations, as well as information currently available to us. All content is posted anonymously by employees working at EquiTrust Life Insurance Company. 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. All rights reserved. We do not manage client funds or hold custody of assets, we help users connect with relevant financial provides independent information for the purpose of providing consumers insight into obtaining the best life insurance coverage from the best life insurance company they could obtain, subject to underwriting. Enter your ZIP code below to view companies that have cheap insurance rates. With a trusted expert in your corner, finding the perfect combo of coverage and cost is a breeze. 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. Backed by more than 40 years of industry expertise, Sapiens offers a complete insurance platform, with pre-integrated, low-code solutions and a cloud-first approach that accelerates customers digital transformation. Company Details EQUITRUST LIFE INSURANCE COMPANY License Status : Active NAIC Number : 62510. According to the lawsuit, EquiTrust designed a . THE ATLANTA LIFE INSURANCE COMPANY At Atlanta Life, we bring 100 years of experience to every customer we serve. EquiTrust even matches their employees charitable donations and pays employees for a day of volunteering during the year. (Annual sales and employees). 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. However, the carrier does not provide a specific claims response timeframe promise. Active CPA and . Click to subscribe for email notifications of new items posted to this page. Get a D&B Hoovers Free Trial. Client-Use Renewal-Rates Flyer. PA 2700-FM-AQ0021 2007 . If you are looking for a company that supports positive action, youll be pleased to know that EquiTrust actively engages with the surrounding area to make it a better place for all who live there. 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EquiTrust Life Insurance Company is a stock life insurance company which was incorporated in the State of Iowa on June 3, 1966. Allstate Corporation. Contract E-Delivery is Here! EquiTrust Life Insurance Company is considered to be stable financially, and because of that, the company has earned the following ratings from the insurer rating agencies: B++ from A.M. Best Company. Strong financial stability. On average, employees at EquiTrust Life Insurance stay with the company for 3.6 years. A relative newcomer to the insurance industry, EquiTrust was established in 1996. 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. ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matchin 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. View contracts online. property-casualty insurance companies for a management fee. Professional development for state insurance regulators and industry professionals. Insurer Ratings and Better Business Bureau Grade. Consumers should always request life insurance quotes from at least three companies to ensure that they are picking the best policy for their coverage needs. The carrier is rather viewed as a financial tool for asset accumulation and estate or legacy planning. Have questions about any kind of insurance? ClickHEREto access the following resources maintained by the Blanks (E) Working Group: Additional NAIC Accounting and Reporting Resources: File Annual & Quarterly financial statements online This rating has decreased by -9% over the . Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. For more information visit https://www.EquiTrust.com. These policies are single-premium, and you must pay at least $10,000 to activate your policy. Full-Time. Brighthouse Financial is the brand name for Brighthouse Life Insurance Company, Brighthouse Life Insurance Company of NY, and New England Life Insurance Company. These ratings are considered Good, but many consumers become wary of insurance companies not rated a minimum of A or better. EquiTrust Life Insurance Company has an overall rating of 3.4 out of 5, based on over 16 reviews left anonymously by employees. The main customer focus of EquiTrust is retirees and those who are approaching retirement. 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. Are cheaper life insurance policies available? Experienced Vice President Of Information Systems with a demonstrated history of working in the insurance industry. As of 2020, the insurance company has a reported $20.7 billion in total assets. Sapiens simple, intuitive, device-agnostic user engagement with flexible branding and integrations enhances EquiTrust Lifes partner experience. All names, marks, and materials used for the reviews on this site are property of their respective owners, and not those of AnnuityGator.com. Exclusive, industry-focused manuals, data, and more. Guggenheim Partners, LLC., purchased the company from FBL Financial Group, which EquiTrust was a subsidiary of since its establishment in 2003. Most of the time, you'll see your account growing in value. Transmit your filing to the NAIC via the Internet. 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. 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. Many pages could stand to be fleshed out quite a bit more, and a disturbing amount of pertinent information seems to be lacking entirely. The EquiTrust Life Insurance Company first opened its doors for business in 1996. registered with the U.S. Securities and Exchange Commission as an investment adviser. Prior to August 2, 2013, the Company, formerly known as Sun Life Assurance Company of Canada (U.S.) (SLUS), was a member of the Sun Life Financial insurance holding company system. EquiTrust Values. Copyright 2022 Sapiens International. MONTHLY OVERVIEW: February updates, recaps and department news. Access forms, tools, and resources for individuals and organizations to file forms, improve efficiency, and remain compliant. 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 Insurance Co is a incorporated in the state of Iowa. The insurance company was originally a subsidiary of the FBL Financial Group, and began operating in the independent insurance channel in 2003. At a minimum, applicants would only need to answer medical-related questions or complete a short phone interview. Answers regarding health care law and insurance. Most clients invest in an annuity to pursue accumulation or cash-flow goals. The insurance company also has a social media presence on Facebook, LinkedIn, and Twitter, which makes them more accessible to customers. Report Flag as Inappropriate. Guarantees subject to the claims-paying ability of EquiTrust Life Insurance Company. Therefore, the PDFs cannot be made available to state insurance regulators. From the beginning, the company was dedicated to providing personal insurance services to individuals and families at an affordable price. 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. There are many reputable life insurance companies in the market today that sell a wide variety of policies. reduce returns). You should not rely upon forward-looking statements as predictions of future events. Products underwritten and issued by EquiTrust Life Insurance Company, West Des Moines, Iowa. For more information on how we're paid, click our link below.Full Disclosure. This policy also comes with a graded return-of-premium rider, penalty-free withdrawals, and loans. Consumers can utilize these products to not only protect themselves, but to also potentially grow and leverage their cash. While the EquiTrust Life Insurance Company ratings prove that this company offers reliable products and great customer service, many people cant afford to pay $10,000 at the drop of a hat. U.S. Industry Overview & Market Statistics: JOHN HANCOCK LIFE INSURANCE COMPANY U.S.A. BLUE CROSS & BLUE SHIELD OF NORTH CAROLINA, EBIT (Earnings Before Interest and Taxes), Revenue from previous years (2010 to present), Funding from Venture Capital and Private Equity firms, Additional industries in which the company operates, What is the company's size? MARKETTWELVE BONUS INDEXfrom EquiTrust Life Insurance Company gives you benefits when markets are rising, and security when they're fluctuating. Applicants must be between the ages of 45 and 80. Plus, there are tax advantages to owning a fixed annuity. In October 2011, it acquired the life insurance company EquiTrust from FBL Financial Group. If youre wanting something more short-term, such as a term life insurance policy, save some money by finding another insurance provider to work with, such asBanner, SBLI, Assurity, or American National. Trail commissions are payable annually based on the contract's Accumulation Value on the contract's anniversary date. Independent insurance agents can help make customer service easier for you by handling claims and other concerns. Site features products, a retirement center offering financial strategies, and a press room.
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