at 866-598-3694 or visit. 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. EquiTrust Pros: About a quarter of a centurys worth of experience in the insurance industry. What is the EquiTrust Life Insurance Company? The carrier provides the following customer service options: EquiTrust sells its insurance products through a wide network of agents, including independent insurance agents. For more information on EquiTrust Insurance Companys Certainty Select Annuity, go HERE. 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 . Agent Pay Is Built Into the Policy. 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 . Call (866) 598-3694. Minimum Premium: $10,000 NQ/Q. BestLifeRates.org, LLC. These policies are single-premium, and you must pay at least $10,000 to activate your policy. For more information visit https://www.EquiTrust.com. Site features products, a retirement center offering financial strategies, and a press room. 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. As of 2020, the insurance company has a reported $20.7 billion in total assets. EquiTrust Life Insurance Company Reviews. 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. We also use content and scripts from third parties that may use tracking technologies. Description. 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. 2023, Consumer Agent Portal, LLC. This feature isnt available with every term life insurance policy, though, so you should also read the fine print before putting any money down. Website at Agents.EquiTrust.com. Sapiens simple, intuitive, device-agnostic user engagement with flexible branding and integrations enhances EquiTrust Lifes partner experience. EquiTrust Life Insurance Company 2023 Ratings, Founder of Huntley Wealth & Insurance Services. Transform your core with next generation, digital-led solutions designed to deliver enhanced, frictionless experiences, and increase efficiency, revenue and success. OMB Number: 3235-0729 . 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 . EquiTrust is one of the best life insurance companies to increase your cash flow. Must pass suitability requirements. Years in Business: 10. Business Started: 8/1/2012. Surrender Charge. Rachael Brennan For those concerned about the underwriting process, EquiTrusts UnderWRITE-NOW Processing doesnt require applicants to undergo a medical exam to secure coverage. administrators. Report Flag as Inappropriate. We're dedicated to providing you with new financial ideas to help meet your specific needs. Company Profile & Annual Report for Equitrust Life Insurance Access the complete profile. FBL Financial Group Inc. does not currently have any hardcopy reports on AnnualReports.com. At the end of the day, all the financial strength in the world cant make up for an insurance company that fails to cater to its customers. 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. Brighthouse Financial, Inc. Brighthouse Financial and its design are registered trademarks of Brighthouse Financial, Inc. and/or its affiliates. Declining surrender charge, based on 9-year schedule. And just . 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. This serves to assist in preventing insolvencies for which liability is imposed on insurers under state guaranty fund laws. Today, this company holds north of $17 billion in assets under management. MONTHLY OVERVIEW: February updates, recaps and department news. The rating was last updated on 09/09/2022. 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. And we do it all by standing true to our principles and offering the integrity you look for in an insurance company. 60% of employees would recommend working at EquiTrust Life Insurance Company to a friend and 83% have a positive outlook for the business. In October 2011, it acquired the life insurance company EquiTrust from FBL Financial Group. EquiTrust Values. This material is not intended to provide investment advice to . EquiTrust even matches their employees charitable donations and pays employees for a day of volunteering during the year. Rider terminates if Account Value is depleted by non-LTC withdrawals or surrender. 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 . Sapiens not only provides a wide array of best-of-breed solutions, but we also truly understand our customers operational goals and are committed to delivering best-in-class solutions, seamlessly to drive growth and deliver value. Quotes and offers are not binding, nor a guarantee of coverage. Have a question or request? 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. Learn more Related links form. Compare Quotes From Top Companies and Save. is in violation of the regulations of this system. For example, EquiTrust employees are encouraged to fill their time with charitable exploits and donate funds to non-profits. Type of Entity: Corporation. So, is this a brand you and your family can trust for years to come? BBB+ from Standard and Poor's. The company also has earned a Comdex rating of 43. Chris Huntley Links for Internet Filing are provided to the right. Their life insurance policies come with the following perks: Your independent insurance agent can help you find out more about EquiTrusts life insurance policies, as well as their other products. This company has a Sustainability Report available to view on our partner site, ResponsibilityReports.com. The Trail commissions are payable annually based on the contract's Accumulation Value on the contract's anniversary date. 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. EquiTrust is a smaller carrier in relation to competitors, yet still has more than $17 billion in assets under management. 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. of the law. The most common ethnicity at EquiTrust Life Insurance is White (76%), followed by Hispanic or Latino (11%) and Asian (7%). Private Securities Litigation Reform Act of 1995, that are based on our beliefs, assumptions and expectations, as well as information currently available to us. In addition, premiums paid into the policy at approval see a 12% bonus immediately. It is built on the understanding that competitive returns and minimal taxation are . Industry: Life insurance Printer Friendly View Address: 222 W Adams St Ste 2150 Chicago, IL, 60606-5301 United States No online claims reporting option. Are cheaper life insurance policies available? Get a D&B Hoovers Free Trial. 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. These ratings are considered Good, but many consumers become wary of insurance companies not rated a minimum of A or better. This information is designed to help you with your decision-making, and it is not intended to provide advice. Plus, there are tax advantages to owning a fixed annuity. EquiTrust offers fixed-rate and indexed annuities and life insurance and is headquartered in Chicago with operations in West Des Moines. Should you feel confident pursuing EquiTrust for your insurance needs? Thankfully, if you need cheap life insurance to protect your loved ones, there are other life insurance products you can utilize. Your email address will not be published. EquiTrust Life Insurance review. In 2012, Guggenheim affiliates acquired the US annuities business of Canadian insurers Industrial Alliance and Sun Life Financial. Allstate Corporation. The following is our unbiased EquiTrust Life Insurance Company Review, and it is solely based on our own opinion. Licensed Insurance Agent. AnnuityGator. 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. (Annual sales and employees). You can also use EquiTrust Life Insurance Company reviews like this one to help you discover the right life insurance company for your needs. The Ward Group analyzes the financial performance of over 700 US-based life and health insurance companies. SEC CIK #0001054501. Claim types include Death Claims, Nursing Home Waivers, Annuitizations, Accelerated . Learn more Arizona Department Of Insurance 2012/2013 Annual. The third, named WealthPay LifeTM, is really a combination product. American Republic Insurance Company was founded in 1929 by Watson Powell, a pioneer in the health and accident insurance business. Nothing on this website is a recommendation to buy or sell an annuity. EquiTrust Life Insurance Company has been around since 1996. We were looking for one vendor to drive our digital transformation and accelerate innovation within our agent sales process. 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. SmartAsset does not The EquiTrust Life Insurance Company first opened its doors for business in 1996. Please fill out the form below and click "Place Order" to complete your order. Access to every published model law, regulation, and guideline. In June of 2015, Magic Johnson Enterprises (MJE) became controlling shareholder of EquiTrust. The MarketSeven Fixed Index Annuity from EquiTrust Life Insurance Company gives you the benefits when markets are rising and protection when they're fluctuating. The policy shares its initial payment with an annuity, but the return collected through the annuity is eventually returned to the life insurance policy. The official website is also lacking common customer service options such as getting matched with an agent or requesting quotes. 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. As always, conduct your own research on a variety of carriers before signing any paperwork. / Equitrust Life Insurance Company Inc; Equitrust Life Insurance Company Inc. Website. EquiTrust specializes in life insurance. Dina Vince Head of Investor Relations, Sapiens. A relative newcomer to the insurance industry, EquiTrust was established in 1996. For questions regarding cocodes please call us at: 816-783-8600. Applicant ages generally range between 60-80. 2020 Annual Report to Stockholders. Below are the most recent examination reports for each insurance company listed. At Annuity Gator, we take the frustration out of shopping for annuities. EquiTrust has a good rating through A.M. Best, but its not as highly rated as many other modern insurance companies. While EquiTrusts ratings could be better (they are currently ranked as a BBB+ by Standard & Poors, and as a B++ by A.M. Best Company), the company has nearly $19 billion in invested assets and has a solvency ratio of just under $105. The second, named WealthMax Bonus Life, is similar to the WealthSure Life product, but the growth is tied to stock market indices instead of current interest rates. Magic Johnson Enterprises - comprised of multiple business entities and partnerships - acquired a controlling interest in EquiTrust in 2015. But in 2015, Magic Johnson Enterprises, which is owned by basketball hall-of-famer Magic Johnson, bought a controlling interest in EquiTrust. from WalletHub and across the web. For complete information about the cookies we use, data we collect and how we process them, please check our. 2021 Annual Report to Stockholders 1.5 MB. Representatives from diverse groups who provide varied perspectives on insurance regulatory issues. In return, the client receives an instantly leveraged death benefit with long-term growth potential. Its a single premium payment, just like the others, but the premiums paid go toward an annuity, which, in turn, will pay out the life insurance premiums over time. 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. 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. Get your Bridge toolkit today. 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. In February 2010, Guggenheim Partners acquired Security Benefit Corp, parent company of Rydex Funds. 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. BBB File Opened: 8/13/2012. Our goal is to be an objective, third-party resource for everything insurance related. I was hired just before the annual reporting with little to no training or guidance from management. 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. As part of the ongoing transition, certain Brighthouse Financial features are serviced by MetLife. Company number. at 866-598-3694 or visit the Agent. For financial reporting, their fiscal year ends on December 31st. In 2016, EquiTrust surpassed $17 billion in total assets. Its A+ rating through the BBB is impressive, though. Explore recent publications, the latest news articles, new federal and legislative news, and model laws to help inform your approach. Marketing & Admin News. On average, employees at EquiTrust Life Insurance stay with the company for 3.6 years. EquiTrust Cares is an excellent example of how this company values giving back and contributing to philanthropic organizations through paid time off for volunteering. Professional development for state insurance regulators and industry professionals. . 10 of the Most Senseless Deaths of All Time, 5 Critical Tips Before You Buy Life Insurance, 5 Ways To Prepare Your Home For Wildfires, 7 Benefits of Life Insurance for the Wealthy, 8 Types Of Homeowners Insurance Policies, Massachusetts Mutual Life Insurance Review, Northwestern Mutual Life Insurance Review. Customers can call the carrier or contact their independent insurance agent if they have questions about how to file. Complete the financial statements using software from an approved vendor. Questions? EquiTrust cannot give legal, tax or accounting advice. (See more.) Domestic and international policy and outreach initiatives. COMPANIES; REPORTS; LAWS, RULES & GUIDANCE; Company search. The company also has proven that its products can help consumers leave behind an immense financial gift for their loved ones and bring financial security to their own lives. All Rights Reserved. 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. The WealthMax Bonus Life policy can potentially grow since it is tied to a stock market index. ]]> Products underwritten and issued by EquiTrust Life Insurance Company, West Des Moines, Iowa. I started Insurance Blog by Chris because I have a passion for insurance. The insurance company does not list their official claims process on their website beyond how to file. You should also note that a WealthMax Bonus Life is typically issued as a Modified Endowment Contract. While EquiTrust does not make information about their specific discounts readily available, most life insurance companies today offer several common discounts on comparable coverages. Vice President of Sales and Marketing. review the ongoing performance of any Adviser, participate in the management of any users account by an For the seventh consecutive year, EquiTrust is recognized among the "Wards 50" of top life and health insurance companies. Products distributed by EquiTrust Insurance Marketing Services; in California doing business as . Annual Reports. 10,000+ Employees. Many customers also trust EquiTrust to handle retirement income or wealth transfer. Main customer service and claims reporting hotline has the following hours restrictions: Income tax-free benefits for beneficiaries, Approval based on medical questions but no exam required. 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. 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. 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. investor.relations@brighthousefinancial.com. Our opinions are our own. 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. 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. 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. 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. Applicants must be between the ages of 45 and 80. With a trusted expert in your corner, finding the perfect combo of coverage and cost is a breeze. Product not available in all states or may vary by state. 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). Therefore, the PDFs cannot be made available to state insurance regulators.
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