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. EquiTrust Life Insurance has 125 employees. (816) 783-8600. Enter your ZIP code below to view companies that have cheap insurance rates. But in 2015, Magic Johnson Enterprises, which is owned by basketball hall-of-famer Magic Johnson, bought a controlling interest in EquiTrust. Our founder was born into slavery and grew of the law. Marketing & Admin News. from WalletHub and across the web. Website at Agents.EquiTrust.com. 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. Or talk to an agent now at (855) 372-0071, Massachusetts Mutual Life Insurance Company Review. Now, Magic Johnson Enterprises owns a large portion of the EquiTrust Life Insurance Company. Percentage of accumulation value by contract year: 12, 11, 10, 9, 8, 7, 6, 4, 2%. The company also offers roadside assistance and ridesharing coverage options. Discover our framework to drive change and promote accountability in our workplace. This rating has decreased by -9% over the . platform based on information gathered from users through our online questionnaire. (816) 783-8089orAcctgRec@naic.org, For questions about NAIC Numbers or cocodes call: 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. That just isnt up to par with other insurance companies around today. SmartAsset does not 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. The FBL Financial Group once owned EquiTrust, but Guggenheim Partners bought the company in 2011. Steps to Completing a Financial Statement Filing. Annuity News. Financial Internet Filing Online User's Guide, For questions about statement filing: (See more.) document.write((new Date()).getFullYear()); EquiTrust Life Insurance Company. 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. For the seventh consecutive year, EquiTrust is recognized among the "Wards 50" of top life and health insurance companies. 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. American Republic Insurance Company was founded in 1929 by Watson Powell, a pioneer in the health and accident insurance business. Even though EquiTrust offers a wide array of annuities to choose from, how can you determine which one if any is right for you? Client Brochure. Doing so can be difficult especially given the overwhelming amount of small print that is oftentimes associated with annuities. 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. I started Insurance Blog by Chris because I have a passion for insurance. Access public conference call documents and information. A.M. Best, the leading global credit rating agency monitoring the insurance industry, gives EquiTrust a B++ rating, indicating the carrier is a good choice for insurance customers. In 2012, Guggenheim affiliates acquired the US annuities business of Canadian insurers Industrial Alliance and Sun Life Financial. A Name You Can Trust. EquiTrust Life Variable Account . 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. The experience at EquiTrust varies depending on what department you work in. We administer financial products for retirees, and Sapiens solution delivers a superior agent experience to market complex financial products that help protect our growing senior population.. Posted: January 19, 2023. The NAIC provides expertise, data, and analysis for insurance commissioners to effectively regulate the insurance industry and protect consumers. 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. In addition, premiums paid into the policy at approval see a 12% bonus immediately. Applicant ages generally range between 55-85, and an Accelerated Death Benefit Rider is also available at no additional charge. All investing involves risk, including loss of 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. We were looking for one vendor to drive our digital transformation and accelerate innovation within our agent sales process. Most clients invest in an annuity to pursue accumulation or cash-flow goals. Forms are available on the website to make claims filing easier. advisors. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. Innovation is a key pillar within EquiTrust Life, and we felt that Sapiens digital tools would enable innovation much faster than any other competitor, while providing us industry insights and best practices, said Carol Woodruff, Vice President, Information Systems with EquiTrust Life. EquiTrust Life Insurance Company Reviews. In February 2010, Guggenheim Partners acquired Security Benefit Corp, parent company of Rydex Funds. What You Need to Know About the EquiTrust Life Insurance Company, The EquiTrust Life Insurance Company is over 20 years old, EquiTrust only sells whole life insurance policies, EquiTrust life insurance policies can increase your cash flow. Avoid market losses - guaranteed. If youre looking for a way to convert a large sum of money like a 401(k) or IRA balance into an ongoing income stream that begins right away, the Confidence Income Annuity from EquiTrust could be a viable option. principal. We do not manage client funds or hold custody of assets, we help users connect with relevant financial No official claims response timeframe promise. You can also use EquiTrust Life Insurance Company reviews like this one to help you discover the right life insurance company for your needs. 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. Our opinions are our own. Should you feel confident pursuing EquiTrust for your insurance needs? 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. Customers have reported frustration with having claims answered and processed within a reasonable timeframe. 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. Allstate Corporation. 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. Download Acrobat Reader free of charge. Sapiens DigitalSuite offers a dynamic, digital engagement and enablement platform for insurers to provide a unified, omni-channel experience. 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. Professional development for state insurance regulators and industry professionals. Applicant Ages: 0-85 (no IBR); 40-85 (with IBR. Market Value Index Annuity from EquiTrust Life Insurance Company gives you the benefits when markets are rising and protection when they're fluctuating. 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. Law360 (February 15, 2018, 8:39 PM EST) -- EquiTrust Life Insurance Co. was hit with a putative class action in Florida federal court Wednesday by two policyholders who claim the company charges . 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). Brighthouse Financial is the brand name for Brighthouse Life Insurance Company, Brighthouse Life Insurance Company of NY, and New England Life Insurance Company. Exclusive, industry-focused manuals, data, and more. NAIC specifications do not allow for any image or DocuSign and DocuSign Envelop PDFs. existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. (816) 783-8400, For questions about the database & electronic filing: You wont have to worry about an extensive or invasive underwriting process when you choose EquiTrust for your insurance needs. View contracts online. Guggenheim Partners, LLC., purchased the company from FBL Financial Group, which EquiTrust was a subsidiary of since its establishment in 2003. Agent Pay Is Built Into the Policy. 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. 2021 Annual Report to Stockholders. Transform your core with next generation, digital-led solutions designed to deliver enhanced, frictionless experiences, and increase efficiency, revenue and success. Experienced Vice President Of Information Systems with a demonstrated history of working in the insurance industry. Personalized Illustrations. 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. EquiTrust is a smaller carrier in relation to competitors, yet still has more than $17 billion in assets under management. So, you can be sure that you and your spouse, partner, or other loved one can rely on income for the remainder of both of your lifetimes. review the ongoing performance of any Adviser, participate in the management of any users account by an Company number. We also use content and scripts from third parties that may use tracking technologies. Financial Statement Filing & Step Through Guide, Raymond G. 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Disclaimer: www.InsuranceBlogByChris.com strives to present the most up-to-date and comprehensive information on saving money on insurance possible. Call Sales Support. Rachael Brennan Since EquiTrusts products are distributed exclusively through independent insurance agents, clients can ensure theyre getting the best coverage at the best rate possible. For more information visit https://sapiens.com or follow us on LinkedIn. EquiTrust only offers one phoneline for customers to inquire about any of their needs, including filing claims. You will also need to make a payment of at least $10,000. Allstate Corporation has reached its limit for free report views. Copyright 2023 BestLifeRates.org, LLC. Equitrust Life Insurance's annual revenues are $100-$500 million, The Premium Equitrust Life Insurance Company Report. The website also does not provide important information about claims processing. This information may be different than what you see when you visit an insurance provider, insurance agency, or insurance company website. Just as the world continues to change and grow, EquiTrust Life Insurance Company remains in motion. MARKETTWELVE BONUS INDEXfrom EquiTrust Life Insurance Company gives you benefits when markets are rising, and security when they're fluctuating. Keep reading to learn more about this company and what it can offer you. For questions regarding cocodes please call us at: 816-783-8600. In June of 2015, Magic Johnson Enterprises (MJE) became controlling shareholder of EquiTrust. Tap into the digital era and reimagine your engagement with customers, the visibility you provide to agents and brokers, and the agility and flexibility with which you manage your business. 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 . Plus, there are tax advantages to owning a fixed annuity. Award-Winning Sales Intel. 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. Today, its corporate headquarters is located in Chicago, Ill., where it actively gives back to the community. 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. A+ (excellent) rating by Better Business Bureau (BBB). 7100 Westown Pkwy Suite 200, West Des Moines, IA 50266-2521. Independent insurance agents can help make customer service easier for you by handling claims and other concerns. It was incorporated under the laws of Delaware on January 12, 1970 and commenced business on January 1, 1973. 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. law requires a life insurance producer to submit a form and pay a fee within 30. Although not a giant, household name, EquiTrust Life Insurance Company has held a steady place within the life insurance industry since 1996, namely for its suite of indexed products. 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. If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. EquiTrust has a good rating through A.M. Best, but its not as highly rated as many other modern insurance companies. 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 . Violators can and will be prosecuted to the full extent Transmit your filing to the NAIC via the Internet. 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. The following is our unbiased EquiTrust Life Insurance Company Review, and it is solely based on our own opinion. Vice President of Sales and Marketing. Surrender Charge. However, you wont be able to conduct an internet search for the EquiTrust stock price as this is not a publicly listed company. Financial Ratings. Choices. Revenue: $100 - $500 million See Exact Annual Revenue: Account Options. 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. Permission and instructions to access this system can be obtained from the SmartAsset access control Adviser or provide advice regarding specific investments. More. Quotes and offers are not binding, nor a guarantee of coverage. Therefore, the PDFs cannot be made available to state insurance regulators. Erie Insurance is a pretty good insurance company, offering homeowners, business and umbrella insurance policies, in addition to auto coverage. It is extremely important that all filings are accurate, complete, and timely. Find contact information for insurance departments and local insurance agents, or file a complaint. For any applicants suffering from an illness or worrying about their current state of health, you can breathe a sigh of relief. 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. One of the most popular types of life insurance policies for consumers on a budget is a term life insurance policy. 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. Minimum Premium: $10,000 NQ/Q. EquiTrust even matches their employees charitable donations and pays employees for a day of volunteering during the year. Complete the financial statements using software from an approved vendor. 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. Royal Neighbors of America Royal Choice 10 Fixed Annuity Review Royal Neighbors of America Royal Choice 7 Fixed Annuity Review. Read the 9th Annual B2B Sales & Marketing Data Report New: B2B Data Report! Sapiens IllustrationPro for Life & Annuities is a cloud-first, point-of-sale illustration and quoting solution, offering a fully responsive, modern, intuitive user experience for the life and annuities and health markets. 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. For example, EquiTrust employees are encouraged to fill their time with charitable exploits and donate funds to non-profits. It is built on the understanding that competitive returns and minimal taxation are . You will be able to make partial withdrawals without facing penalty fees after the policy has been in place for a year. For those concerned about the underwriting process, EquiTrusts UnderWRITE-NOW Processing doesnt require applicants to undergo a medical exam to secure coverage. Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Questions? at 866-598-3694 or visit the Agent. This policy also comes with a graded return-of-premium rider, penalty-free withdrawals, and loans. Subsequent annual maximum after year 1: $250,000 Contract maximum without prior EquiTrust approval: $1,000,000. 24 reviews. Applicant ages generally range between 60-80. 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. If regulators cannot access the PDFs, they may contact the companies and the filings may be considered Not Filed.. 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 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. / Equitrust Life Insurance Company Inc; Equitrust Life Insurance Company Inc. Website. EquiTrust Life is a specialized insurance company, with a focus on life insurance. 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. As always, conduct your own research on a variety of carriers before signing any paperwork. A high rating from A.M. Best assures customers that EquiTrust is capable of offering guaranteed, secure coverage from a reputable carrier. The Premium Equitrust Life Insurance Company Report contains critical information including: Revenue from previous years (2010 to present) . 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. 1.9. Surrender charges may vary by state. Allstate Corporation does not currently have any hardcopy reports on AnnualReports.com. 2. Having a problem with an insurance company or agent? So, is this a brand you and your family can trust for years to come? EquiTrust is a national carrier of competitive, client-friendly options, available through various distribution channels including more than 15,700 independent sales representatives and independent marketing organizations. Click the button below to request a report when hardcopies become available. Brighthouse Financial, Inc. Brighthouse Financial and its design are registered trademarks of Brighthouse Financial, Inc. and/or its affiliates. EquiTrust specializes in life insurance. Independent Review of the RiverSource Protected Advantage 6 Year Annuity Independent Review of the RiverSource Life Value Plus Bonus Annuity Independent Review of the RiverSource Life Rate Bonus 1 MYGA Annuity. EquiTrust allows customers to file claims via email, fax, or phone. Access technology tools and resources for U.S. insurance regulators. Jun 2022 - Present10 months. Comparison shopping should be easy. Learn more Related links form. EquiTrust provides phone claims reporting as well as fax and email claims reporting options for their customers. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the degree of our success in our plans to leverage our global footprint to grow our sales the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions our lengthy and complex sales cycles, which do not always result in the realization of revenues the degree of our success in retaining our existing customers or competing effectively for greater market share difficulties in successfully planning and managing changes in the size of our operations the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream the challenges and potential liability that heightened privacy laws and regulations pose to our business occasional disputes with clients, which may adversely impact our results of operations and our reputation various intellectual property issues related to our business potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers systems risks related to the insurance industry in which our clients operate risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the recent novel coronavirus pandemic, which adversely affected our results of operations, or fluctuations in currency exchange rates and risks related to our principal location in Israel and our status as a Cayman Islands company. EquiTrust Values. Offers life insurance and annuities. To be among the Ward's 50, each company must pass all safety and consistency screens, and have achieved superior performance over the five years analyzed. Serving over 600 customers in 30 countries, Sapiens offers insurers across property and casualty, workers compensation and life markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. Below are the most recent examination reports for each insurance company listed. The MarketSeven Fixed Index Annuity from EquiTrust Life Insurance Company gives you the benefits when markets are rising and protection when they're fluctuating. 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. This material is not intended to provide investment advice to . Site features products, a retirement center offering financial strategies, and a press room. . The life insurance side is a fixed premium IUL insurance product, and growth is tied to the stock market indexes. 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. ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matchin 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. Is the EquiTrust Life Insurance Company highly rated? Shopping for a company? Compared to many modern insurance companies, EquiTrusts official website leaves much to be desired. Brighthouse Financial is the brand name for Brighthouse Life Insurance Company, Brighthouse Life Insurance Company of NY, and New England Life Insurance Company. 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 . This serves to assist in preventing insolvencies for which liability is imposed on insurers under state guaranty fund laws.