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The life insurance side is a fixed premium IUL insurance product, and growth is tied to the stock market indexes. PDF MARKETTWELVE BONUS INDEX - ImmediateAnnuities.com But in 2015, Magic Johnson Enterprises, which is owned by basketball hall-of-famer Magic Johnson, bought a controlling interest in EquiTrust. That just isnt up to par with other insurance companies around today. With so many great options on the table, it can be difficult for consumers to find the best policy out of the bunch. And just . In 2015, Magic Johnson Enterprises (MJE) became a controlling shareholder of the insurance provider. EquiTrust Cons: Not a BBB accredited company. Everything I learned was self taught with demanding deadlines and being understaffed in our department. Senior Customer Service Representative (Former Employee) - West Des Moines, IA - June 13, 2020. In addition, FBL manages all aspects of two Farm Bureau affiliated. Business Profile for EquiTrust Life Insurance Company EXAMINATION REPORT OF EQUITRUST LIFE INSURANCE COMPANY WEST DES MOINES, IOWA AS OF DECEMBER 31, 2011 . Equitrust was a great company at one time. EquiTrust will immediately credit your contract an extra 6% on any premiums paid during the first five contract years. sherylwilliams_email. Additional information. Our goal is to be an objective, third-party resource for everything insurance related. Having a problem with an insurance company or agent? 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. 2020 Annual Report to Stockholders. Guggenheim Partners, LLC., purchased the company from FBL Financial Group, which EquiTrust was a subsidiary of since its establishment in 2003. In June 2015, Magic Johnson Enterprises became the majority shareholder, making EquiTrust Life Insurance one of the largest minority-owned life insurance company in the history of the country at $25.7 billion in assets. EquiTrust Life Partners with Sapiens on their Next Generation Digital We're dedicated to providing you with new financial ideas to help meet your specific needs. 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 Life Insurance Company Two multi-asset, risk-controlled index options provide an extra level of diversification. EquiTrust offers fixed-rate and indexed annuities and life insurance and is headquartered in Chicago with operations in West Des Moines. 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. ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matchin EquiTrust Life Annuity Account - SEC.gov. 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 . An optional terminal illness rider may be added for an additional premium cost. If your company does not have an NAIC Company code (sometimes called "NAIC Number" or "cocode"), obtain one by completing the Company Code Application. We're here to help. Marketing & Admin News. EquiTrust Hit With Suit Over Unauthorized Payout Fees EquiTrust Agent Portal EquiTrust Life Insurance Company | LinkedIn N-CEN: Filer Information - whalewisdom.com An annuity is a fixed amount of money paid to you from an insurance firm. Magic Johnson Enterprises - comprised of multiple business entities and partnerships - acquired a controlling interest in EquiTrust in 2015. Today, its corporate headquarters is located in Chicago, Ill., where it actively gives back to the community. . EquiTrust even matches their employees charitable donations and pays employees for a day of volunteering during the year. Contract E-Delivery is Here! Contract issued on Form Series ICC12-ET-EIA-2000 (01-12) or ET-EIA-2000 (06-04). For example, EquiTrust employees are encouraged to fill their time with charitable exploits and donate funds to non-profits. Complete the financial statements using software from an approved vendor. The FBL Financial Group once owned EquiTrust, but Guggenheim Partners bought the company in 2011. Reviewed by Nothing on this website is a recommendation to buy or sell an annuity. Working at EquiTrust Life Insurance Company: 17 Reviews PDF EXAMINATION REPORT OF EQUITRUST LIFE INSURANCE COMPANY WEST DES - Iowa Working At EquiTrust Life Insurance: Employee Reviews and Culture - Zippia Have questions about any kind of insurance? (816) 783-8600orFDRadmin@naic.org, For questions about filing fees or accounts receivable: Applicant Ages: 0-85 (no IBR); 40-85 (with IBR. BBB File Opened: 8/13/2012. Company/Agent Search | Missouri Department of Insurance, Financial EquiTrust allows customers to file claims via email, fax, or phone. 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. This rating has decreased by -9% over the . The EquiTrust Life Insurance Company ratings indicate that this company will have . However, EquiTrust was recognized as among the Wards 50 for their top-notch financial performance from 2013-2017. 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. Heather Kane - Vice President of Sales and Marketing - EquiTrust Life Find contact information for insurance departments and local insurance agents, or file a complaint. Files on this page are PDF. EquiTrust Life Insurance Company Reviews: 24 User Ratings - WalletHub Call Sales Support. Applies to partial withdrawals in excess of the penalty-free withdrawal amount. 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 . 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. Company number. EquiTrust specializes in life insurance. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. EquiTrust Life Insurance Company; 7100 Westown Pkwy Suite 200; West Des Moines, IA 50266-2521; My Annuity Contracts/Life Policies; FAQs; Contact Information; My EquiTrust is a secured customer resource for current values, transaction history, updates, forms and general assistance. EquiTrust Agent Portal 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. In October 2011, it acquired the life insurance company EquiTrust from FBL Financial Group. NAIC specifications do not allow for any image or DocuSign and DocuSign Envelop PDFs. Jason Fisher is the founder and CEO of BestLifeRates.org, LLC. Our three-year blueprint for the future shows the way toward building on existing strengths. Phone Number: 3127023400 Company Address: 7100 WESTOWN PARKWAY, SUITE 200 WEST DES MOINES, IA 50266 Description: Life and Health . Rider terminates if Account Value is depleted by non-LTC withdrawals or surrender. principal. West Des Moines, IA. Choices. If regulators cannot access the PDFs, they may contact the companies and the filings may be considered Not Filed.. 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. advisors. Company Details EQUITRUST LIFE INSURANCE COMPANY License Status : Active NAIC Number : 62510. 1 West Des Moines, Iowa March 12, 2013 HONORABLE Nick GERHART Commissioner of Insurance . All investing involves risk, including loss of Industry: Life insurance Printer Friendly View Address: 222 W Adams St Ste 2150 Chicago, IL, 60606-5301 United States EquiTrust Life Insurance Company Today, this company holds north of $17 billion in assets under management. Transform your core with next generation, digital-led solutions designed to deliver enhanced, frictionless experiences, and increase efficiency, revenue and success. Strong financial stability. Also, there are many dismal customer reviews across multiple sites detailing frustrating encounters with the insurance company, and disappointment in their coverage. Applicant ages generally range between 50-85, and a Return of Premium Rider is also available at no additional charge. 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. 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. Membership lists, services and education to serve you and your mission. 1.9. EquiTrust Life Insurance Company is a trusted provider of life insurance and annuity products with a strong track record of operating performance. at 866-598-3694 or visit the Agent. EquiTrust has a good rating through A.M. Best, but it's not as highly rated as many other modern insurance companies. 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. EquiTrust Life Insurance Company - EquiTrust Life Insurance Company EquiTrust Life Insurance Company. EquiTrust Agent Portal Two multi-asset, risk-controlled index options provide an extra level of diversification. This serves to assist in preventing insolvencies for which liability is imposed on insurers under state guaranty fund laws. 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. Access to every published model law, regulation, and guideline. And we do it all by standing true to our principles and offering the integrity you look for in an insurance company. 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. In February 2010, Guggenheim Partners acquired Security Benefit Corp, parent company of Rydex Funds. Client-Use Renewal-Rates Flyer. 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. Most clients invest in an annuity to pursue accumulation or cash-flow goals. review the ongoing performance of any Adviser, participate in the management of any users account by an September 9, 2022 @sherylwilliams_email. Compare Quotes From Top Companies and Save. Form Date Form Name Number Line Of Business; 2021/10/01: 1035 Exchange Instructions: 436-830.pdf: Annuity: 2011/04/01: 1-Year Avg Participation Index Account Specimen By continuing to access this system you acknowledge you are aware of and agree to these terms. Description. EquiTrust Life Insurance Company. Our principal business is offering life insurance policies and annuity contracts. Read the 9th Annual B2B Sales & Marketing Data Report New: B2B Data Report! 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. EquiTrust Life Insurance Company is a trusted provider of life insurance and annuity products with a strong track record of operating performance. American Republic - About Us You will also need to make a payment of at least $10,000. ]]> document.write((new Date()).getFullYear()); Annual Reports. High rating through the BBB. / Equitrust Life Insurance Company Inc; Equitrust Life Insurance Company Inc. Website. Unfortunately, you cant apply for this policy if you have any pre-existing health conditions. MARKETTWELVE BONUS INDEXfrom EquiTrust Life Insurance Company gives you benefits when markets are rising, and security when they're fluctuating. 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.. AnnuityGator. Complete the financial statements using software from an approved vendor. You can also use EquiTrust Life Insurance Company reviews like this one to help you discover the right life insurance company for your needs. Access forms and tools to file expense reports, review grant and zone scholarship balances, and travel guidelines. A relative newcomer to the insurance industry, EquiTrust was established in 1996. You can also review index-linked life insurance offerings, such as EquiTrustsSecure SuiteLifeTM andGrowth SuiteLifeTMproducts. Minimum Premium: $10,000 NQ/Q. Allstate Corporation has reached its limit for free report views. Copyright 2020-2023|www.InsuranceBlogByChris.com|113 Cherry Street, #37960 Seattle, Washington 98104-2205|Privacy Policy|Terms & Conditions|CCPA. Privacy Policy. Your personal tax advisor can provide important . A high rating from A.M. Best assures customers that EquiTrust is capable of offering guaranteed, secure coverage from a reputable carrier. Atlanta Life Insurance - Atlanta Life Insurance January 14 2009 - by Lucy Campbell. Official website is sorely lacking. Given its focus on index-linked insurance vehicles, EquiTrust Life Insurance Company offers several fixed index annuities. EquiTrust Life Insurance Company 2022 Ratings. PDF LIFE INSURERS Report Date Company Count - dbr.ri.gov Overview. Copyright 2023 BestLifeRates.org, LLC. This partnership has broadened EquiTrusts reach when it comes to diversity in the workplace and corporate community impact initiatives. Explore future meetings and access past event documents. 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. EquiTrust Life Insurance Company Employee Reviews in West Des - Indeed EquiTrust Life Insurance Review - Good Financial Cents Below are the most recent examination reports for each insurance company listed. Your email address will not be published. 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. You only need to make one payment to activate a WealthPay Life policy from EquiTrust. 3. Allstate Corporation. Columbus, Ohio Area. PDF Examination Report of Delaware Life Insurance Company As of December 31 You should not rely upon forward-looking statements as predictions of future events. property-casualty insurance companies for a management fee. EquiTrust Life Insurance Company 62510 7100 Westown Parkway, Suite 200 West Des Moines IA 50266 8772493694 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. 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. Sales Week: Simple technology to boost Bridge sales register for our webinar to see a demo! Sales Week: EquiTrust ads bring business to your doorstep or inbox. Tabares et al v. Equitrust Life Ins. Co. - United Policyholders It also serves several other regulatory information needs, such as mandated: experience analysis for particular lines or sublines for individual companies and groups; general market structure and performance analysis; and statistics by company, groups or the industry as a whole. The website also does not provide important information about claims processing. If you dont want to worry about missing a payment on your life insurance, you may be intrigued by EquiTrusts WealthSure Life insurance policy. Products underwritten and issued by EquiTrust Life Insurance Company, West Des Moines, Iowa. 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. This company has a Sustainability Report available to view on our partner site, ResponsibilityReports.com. Mark Willoughby, CPA - AVP Internal Audit - EquiTrust Life Insurance Revenue: $100 - $500 million See Exact Annual Revenue: Please fill out the form below and click "Place Order" to complete your order. EquiTrust Life Insurance Company hiring Life and Annuity Claims Manager For questions regarding cocodes please call us at: 816-783-8600. 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. 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. 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. EquiTrust cannot give legal, tax or accounting advice. 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. NOTE: Some states allow companies to utilize electronic signatures in documents from companies such as DocuSign. Leave us a note in the comments - we love everything insurance! You can even use life insurance to provide yourself with more financial security while youre alive. Access forms, tools, and resources for individuals and organizations to file forms, improve efficiency, and remain compliant. 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. EquiTrust Life Insurance Company has been around since 1996. Here at the blog, our job is to educate and inform people about the best insurance for them. This creates no additional cost to you, and helps provide us an income so we can continue to bring valuable information to your fingertips. Brighthouse Financial is the brand name for Brighthouse Life Insurance Company, Brighthouse Life Insurance Company of NY, and New England Life Insurance Company. Compound annual growth in premiums between -10% and +40% . 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. FBL Financial Group Inc. - AnnualReports.com Documents exposed by various committee workgroups. SmartAsset does not We strive to help you make confident insurance decisions. 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. Is the EquiTrust Life Insurance Company highly rated? The insurance companys official website could use a complete overhaul, and does not provide many customer service options todays insurance customers have come to expect such as online claims reporting or getting matched with an agent. 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. Most of the time, you'll see your account growing in value. Carol Woodruff - Vice President, Information Systems - EquiTrust Life 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 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. Guarantees subject to the claims-paying ability of EquiTrust Life Insurance Company. Annuity News. Insurer Ratings and Better Business Bureau Grade. Browse our timeline to learn how we support insurance regulators in their mission to protect consumers and ensure fair and healthy insurance markets. 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. A financial services company newly renamed and offering individual and business life insurance, and annuities. Even though EquiTrust offers a wide array of annuities to choose from, how can you determine which one if any is right for you? 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. Annuity product guarantees rely on the financial strength and claims-paying ability of the issuing insurer. 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. Equitrust Life Insurance Company Inc - Dun & Bradstreet Avoid market losses - guaranteed. 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 . 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. Managers play favorites, have created a hostile environment where bullying their employees is acceptable. EquiTrust has just one phoneline for customer service and all other inquiries. Bottom Line: EquiTrust is known for offering life insurance that does not require medical exams, and has even been recognized as a top performing insurance company by Wards. Subsequent annual maximum after year 1: $250,000 Contract maximum without prior EquiTrust approval: $1,000,000. When evaluating rates, please verify directly with your insurance company or agent. A vast majority (over 95%) of these assets are considered investment grade, though . Our insurance industry partnerships dont influence our content. Steps to Completing a Financial Statement Filing. Get your Bridge toolkit today. Exclusive, industry-focused manuals, data, and more. All Rights Reserved. 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. at 866-598-3694 or visit. This annuity features both single life and joint life payout options. Customers have reported frustration with having claims answered and processed within a reasonable timeframe. A relative newcomer to the insurance industry, EquiTrust was established in 1996. Representatives from diverse groups who provide varied perspectives on insurance regulatory issues. 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. EquiTrust While EquiTrust does not make information about their specific discounts readily available, most life insurance companies today offer several common discounts on comparable coverages. 10,000+ Employees. 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. at 866-598-3694 or visit the Agent. Magic Johnson Enterprises Acquires Equitrust Life Insurance Co. No flexibility and no interest in promoting anyone who won't play their mean girl games. EquiTrust is a smaller carrier in relation to competitors, yet still has more than $17 billion in assets under management. Consumers can utilize these products to not only protect themselves, but to also potentially grow and leverage their cash. For complete information about the cookies we use, data we collect and how we process them, please check our. Personalized Illustrations. The MarketSeven Fixed 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. The carrier does have solid financial strength, and A.M. Best places them in the $1.25-$1.5 billion financial size category. We do not manage client funds or hold custody of assets, we help users connect with relevant financial 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. You can also request a quote from the company online. 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. Have a question or request? A+ (excellent) rating by Better Business Bureau (BBB). The insurance company was originally a subsidiary of the FBL Financial Group, and began operating in the independent insurance channel in 2003. Founder of Huntley Wealth & Insurance Services. A Name You Can Trust. 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.