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Overall, WalletHub's editors give Erie Insurance a rating of 3.4/5, as the company has a reputation for offering good . registered with the U.S. Securities and Exchange Commission as an investment adviser. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is Browse our timeline to learn how we support insurance regulators in their mission to protect consumers and ensure fair and healthy insurance markets. MONTHLY OVERVIEW: February updates, recaps and department news. Answers regarding health care law and insurance. 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. Products underwritten and issued by EquiTrust Life Insurance Company, West Des Moines, Iowa. In February 2010, Guggenheim Partners acquired Security Benefit Corp, parent company of Rydex Funds. 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. To apply for this policy, you must: WealthSure also accumulates cash value. Copyright 2023 BestLifeRates.org, LLC. 1. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. You place money into an account, and the agency invests it so that it will grow. However, the insurance company is not accredited through the BBB. FBL currently underwrites, markets and distributes life insurance, annuities and mutual funds to individuals and small businesses. For financial reporting, their fiscal year ends on December 31st. 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. All Rights Reserved. This feature isnt available with every term life insurance policy, though, so you should also read the fine print before putting any money down. 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. EquiTrust Life Insurance Company was purchased by Guggenheim Partners in 2011. You can selectively provide your consent below to allow such third party embeds. Thats why it can be helpful to have an expert on your side who provides objective, non-biased advice. Access to every published model law, regulation, and guideline. 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.. Account Options. Leave us a note in the comments - we love everything insurance! Product offerings include index-linked life insurance primarily for the purpose of wealth transfer and annuities for income. Variable products are distributed by Brighthouse Securities, LLC (member FINRA). Jason Fisher is the founder and CEO of BestLifeRates.org, LLC. 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. Domestic and international policy and outreach initiatives. EquiTrust Life Insurance Company Reviews. Rider terminates if Account Value is depleted by non-LTC withdrawals or surrender. An optional terminal illness rider may be added for an additional premium cost. investor.relations@brighthousefinancial.com. We attempt, within reason, to ensure all quotes are up to date, though rates change periodically and are never guaranteed. This policy also comes with a graded return-of-premium rider, penalty-free withdrawals, and loans. Company Details EQUITRUST LIFE INSURANCE COMPANY License Status : Active NAIC Number : 62510. 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. Senior Customer Service Representative (Former Employee) - West Des Moines, IA - June 13, 2020. American Republic remains focused on delivering quality coverage . 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. Managers play favorites, have created a hostile environment where bullying their employees is acceptable. Below are the most recent examination reports for each insurance company listed. Click the button below to request a report when hardcopies become available. Applicant Ages: 0-85 (no IBR); 40-85 (with IBR. . Title. All content is posted anonymously by employees working at EquiTrust Life Insurance Company. While EquiTrust does not make information about their specific discounts readily available, most life insurance companies today offer several common discounts on comparable coverages. 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. We also use content and scripts from third parties that may use tracking technologies. This single premium deferred annuity features guarantee periods of 3, 5, 6, 8 or 10 years. EquiTrust Life Insurance Company. Research and analysis on important insurance issues. However, EquiTrust was recognized as among the Wards 50 for their top-notch financial performance from 2013-2017. At a minimum, applicants would only need to answer medical-related questions or complete a short phone interview. EquiTrust earns this recognition for performance from 2017 through 2021. 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 . For over 20 years, the EquiTrust Life Insurance Company has helped consumers purchase high-quality life insurance products. 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). 2023, Consumer Agent Portal, LLC. 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. Adviser or provide advice regarding specific investments. EquiTrust Life Insurance review. Read the 9th Annual B2B Sales & Marketing Data Report New: B2B Data Report! 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 . 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. Agent Pay Is Built Into the Policy. Subsequent annual maximum after year 1: $250,000 Contract maximum without prior EquiTrust approval: $1,000,000. Everything I learned was self taught with demanding deadlines and being understaffed in our department. at 866-598-3694 or visit the Agent. Our principal business is offering life insurance policies and annuity contracts. 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. Is the EquiTrust Life Insurance Company highly rated? Developments and trends in financial markets and insurer investments. This information is designed to help you with your decision-making, and it is not intended to provide advice. Chris Huntley We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. Enter your ZIP code below to view companies that have cheap insurance rates. SmartAssets Should you feel confident pursuing EquiTrust for your insurance needs? 10,000+ Employees. EquiTrust Cons: Not a BBB accredited company. Website at Agents.EquiTrust.com. 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. For those concerned about the underwriting process, EquiTrusts UnderWRITE-NOW Processing doesnt require applicants to undergo a medical exam to secure coverage. Since EquiTrusts products are distributed exclusively through independent insurance agents, clients can ensure theyre getting the best coverage at the best rate possible. EquiTrust Life Insurance Company . For example, there is no outline of an official claims process or claims response timeframe to be found. The insurance company also has a social media presence on Facebook, LinkedIn, and Twitter, which makes them more accessible to customers. Most clients invest in an annuity to pursue accumulation or cash-flow goals. September 9, 2022 @sherylwilliams_email. BBB+ from Standard and Poor's. The company also has earned a Comdex rating of 43. Allstate Corporation does not currently have any hardcopy reports on AnnualReports.com. Mark is a former Big 4 auditor with 10 plus years of public/private experience in audit within a variety of industries: manufacturing/consumer products/insurance/financial services. 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. 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. Sapiens simple, intuitive, device-agnostic user engagement with flexible branding and integrations enhances EquiTrust Lifes partner experience. Independent insurance agents can help make customer service easier for you by handling claims and other concerns. The guarantees expressed are based on the claims paying ability of EquiTrust Life Insurance Company. Compare Quotes From Top Companies and Save. Therefore, the PDFs cannot be made available to state insurance regulators. Guggenheim Partners, LLC., purchased the company from FBL Financial Group, which EquiTrust was a subsidiary of since its establishment in 2003. Percentage of accumulation value by contract year: 12, 11, 10, 9, 8, 7, 6, 4, 2%. Applies to partial withdrawals in excess of the penalty-free withdrawal amount. Given its focus on index-linked insurance vehicles, EquiTrust Life Insurance Company offers several fixed index annuities. By contacting us you may speak with an insurance licensed agent in your state, and you may be offered insurance products for sale. If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. The carrier provides the following customer service options: EquiTrust sells its insurance products through a wide network of agents, including independent insurance agents. 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. Having a problem with an insurance company or agent? The WealthMax Bonus Life policy can potentially grow since it is tied to a stock market index. 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. Transmit your filing to the NAIC via the Internet. EquiTrust has a good rating through A.M. Best, but it's not as highly rated as many other modern insurance companies. EquiTrust is a national carrier of competitive, client-friendly annuity and life insurance products, available through a national network of independent sales representatives. It includes a death benefit, as well as a nursing home waiver. EquiTrust is also not currently BBB accredited, and has had several customer complaints filed against them through the organization in recent years. Violators can and will be prosecuted to the full extent We strive to help you make confident insurance decisions. EquiTrust is a smaller carrier in relation to competitors, yet still has more than $17 billion in assets under management. 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. 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. It is extremely important that all filings are accurate, complete, and timely. 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. advisors. Compound annual growth in premiums between -10% and +40% . Additional information. The company offers fixed indexed, immediate and fixed annuities, as well as life insurance policies. 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. Have a question or request? Applicant ages generally range between 60-80. 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. at 866-598-3694 or visit the Agent. All insurance rates, products, and services are presented without warranty and guarantee. EquiTrust offers fixed-rate and indexed annuities and life insurance and is headquartered in Chicago with operations in West Des Moines. administrators. The policy shares its initial payment with an annuity, but the return collected through the annuity is eventually returned to the life insurance policy. sherylwilliams_email. There are many reputable life insurance companies in the market today that sell a wide variety of policies. Learn more Arizona Department Of Insurance 2012/2013 Annual. Get a D&B Hoovers Free Trial. 2. Vice President of Sales and Marketing. 7100 Westown Pkwy Suite 200, West Des Moines, IA 50266-2521. Thankfully, if you need cheap life insurance to protect your loved ones, there are other life insurance products you can utilize. The Certainty Select Annuity is EquiTrusts MYGA product. 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. Records required to be maintained according to the Company's record retention policy, include policyowner files, orders for fund shares, daily unit value computations, bank account records, reconciliation and . Equitrust was a great company at one time. Click to subscribe for email notifications of new items posted to this page. Identify what your insurance needs are and how EquiTrust could meet them for you and your family. 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. Dina Vince Head of Investor Relations, Sapiens. Magic Johnson Enterprises - comprised of multiple business entities and partnerships - acquired a controlling interest in EquiTrust in 2015. (816) 783-8600. EquiTrust has a good rating through A.M. Best, but its not as highly rated as many other modern insurance companies. You will be able to make partial withdrawals without facing penalty fees after the policy has been in place for a year. 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. Brighthouse Financial, Inc. Brighthouse Financial and its design are registered trademarks of Brighthouse Financial, Inc. and/or its affiliates. A Name You Can Trust. Contract issued on Form Series ICC12-ET-EIA-2000 (01-12) or ET-EIA-2000 (06-04). Documents exposed by various committee workgroups. 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. Skilled in IT Management, Software Development Life Cycle (SDLC), Management . 1 West Des Moines, Iowa March 12, 2013 HONORABLE Nick GERHART Commissioner of Insurance .