Are Any of These Annuities Right for You? Surrender charges may vary by state. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. [CDATA[// > Posted: January 19, 2023. Our opinions are our own. Our three-year blueprint for the future shows the way toward building on existing strengths. This creates no additional cost to you, and helps provide us an income so we can continue to bring valuable information to your fingertips. 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. Also, there are many dismal customer reviews across multiple sites detailing frustrating encounters with the insurance company, and disappointment in their coverage. The insurance company also received recognition on Wards list of the Top 50 Performing Insurance Companies that same year. 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. Official website is sorely lacking. Subject to IRS daily maximum. Copyright 2022 Sapiens International. 24 reviews. Sapiens ApplicationPro is a robust electronic application software that helps carriers address critical business drivers, such as decreasing timetoissue and reducing policy acquisition costs, all in an extremely intuitive and easytouse package. No flexibility and no interest in promoting anyone who won't play their mean girl games. Applicant Ages: 0-85 (no IBR); 40-85 (with IBR. registered with the U.S. Securities and Exchange Commission as an investment adviser. Here at the blog, our job is to educate and inform people about the best insurance for them. 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. Contract E-Delivery is Here! As always, conduct your own research on a variety of carriers before signing any paperwork. 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. Products distributed by EquiTrust Insurance Marketing Services; in California doing business as EQT Insurance Marketing Services. SEC CIK #0001054501. According to the lawsuit, EquiTrust designed a . / Equitrust Life Insurance Company Inc; Equitrust Life Insurance Company Inc. Website. 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. 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. Must pass suitability requirements. 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. Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. EquiTrust offers just one phoneline for all customer inquiries. 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. Required fields are marked *. Website at Agents.EquiTrust.com. 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.. OMB Number: 3235-0729 . 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. 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. However, the carrier does not provide a specific claims response timeframe promise. 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. In 2016, EquiTrust surpassed $17 billion in total assets. Annuity product guarantees rely on the financial strength and claims-paying ability of the issuing insurer. Therefore, the PDFs cannot be made available to state insurance regulators. Explore recent publications, the latest news articles, new federal and legislative news, and model laws to help inform your approach. Everything I learned was self taught with demanding deadlines and being understaffed in our department. Answers regarding health care law and insurance. As of 2020, the insurance company has a reported $20.7 billion in total assets. Such forward-looking statements may be identified by the use of the words anticipate, believe, estimate, expect, may, will, plan and similar expressions. EquiTrust is a smaller carrier in relation to competitors, yet still has more than $17 billion in assets under management. Applicant ages generally range between 60-80. 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. 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 . 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. 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. Quotes and offers are not binding, nor a guarantee of coverage. Annuities and life insurance are issued by, and product guarantees are solely the responsibility of, Brighthouse Life Insurance Company, Charlotte, NC 28277 and, in New York only, by Brighthouse Life Insurance Company of NY, New York, NY 10017 (Brighthouse Financial). Our principal offices are at 5400 University Avenue, West Des Moines, Iowa 50266. This partnership has broadened EquiTrusts reach when it comes to diversity in the workplace and corporate community impact initiatives. Senior Customer Service Representative (Former Employee) - West Des Moines, IA - June 13, 2020. Are cheaper life insurance policies available? Applicant ages generally range between 55-85, and an Accelerated Death Benefit Rider is also available at no additional charge. Allstate Corporation does not currently have any hardcopy reports on AnnualReports.com. This policy also comes with a graded return-of-premium rider, penalty-free withdrawals, and loans. 60% of employees would recommend working at EquiTrust Life Insurance Company to a friend and 83% have a positive outlook for the business. MONTHLY OVERVIEW: February updates, recaps and department news. Royal Neighbors of America Royal Choice 10 Fixed Annuity Review Royal Neighbors of America Royal Choice 7 Fixed Annuity Review. Below are the most recent examination reports for each insurance company listed. Percentage of accumulation value by contract year: 12, 11, 10, 9, 8, 7, 6, 4, 2%. We update our site regularly, and all content is reviewed by insurance experts. Consumers can utilize these products to not only protect themselves, but to also potentially grow and leverage their cash. 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. A high rating from A.M. Best assures customers that EquiTrust is capable of offering guaranteed, secure coverage from a reputable carrier. EquiTrust Life Annuity Account - SEC.gov. EquiTrust Life Insurance Company is a stock life insurance company which was incorporated in the State of Iowa on June 3, 1966. Working with an adviser may come with potential downsides such as payment of fees (which will Contract issued on Form Series ICC12-ET-EIA-2000 (01-12) or ET-EIA-2000 (06-04). Please fill out the form below and click "Place Order" to complete your order. EquiTrust Cons: Not a BBB accredited company. Explore our open opportunities for your chance to join our team. There are many reputable life insurance companies in the market today that sell a wide variety of policies. 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. Products underwritten and issued by EquiTrust Life Insurance Company, West Des Moines, Iowa. Copyright 2020-2023|www.InsuranceBlogByChris.com|113 Cherry Street, #37960 Seattle, Washington 98104-2205|Privacy Policy|Terms & Conditions|CCPA. We have the right one for you. EquiTrust Life Insurance Company has an overall rating of 3.4 out of 5, based on over 16 reviews left anonymously by employees. 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. Its primary operating subsidiary, Farm Bureau Life Insurance Company, underwrites and markets a broad range of life insurance and annuities to individuals and businesses. Products distributed by EquiTrust Insurance Marketing Services; in California doing business as . At a minimum, applicants would only need to answer medical-related questions or complete a short phone interview. PA 2700-FM-AQ0021 2007 . We're here to help. Sapiens IllustrationPro, Sapiens ApplicationPro and Sapiens DigitalSuite support EquiTrust Lifes key product offerings by providing comprehensive, new business illustrations with enhanced solutions for complex scenarios with split second calculations, and an interactive experience to reduce re-keying, resulting in fewer errors, faster time to decision and better engagement. Today, this company holds north of $17 billion in assets under management. The guarantees expressed are based on the claims paying ability of EquiTrust Life Insurance Company. Avoid market losses - guaranteed. I was hired just before the annual reporting with little to no training or guidance from management. Avi Shekhtman Read more by Avi Shekhtman. You can also use EquiTrust Life Insurance Company reviews like this one to help you discover the right life insurance company for your needs. You will be able to make partial withdrawals without facing penalty fees after the policy has been in place for a year. Subsequent annual maximum after year 1: $250,000 Contract maximum without prior EquiTrust approval: $1,000,000. Allstate Corporation. 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. ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matchin Occasionally the Iowa Insurance Division will conduct a focused examination related to a particular issue involving an insurance company domiciled in another state.) 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. Is the EquiTrust Life Insurance Company highly rated? Based in Northbrook, Illinois. This is not an offer to buy or sell any security or interest. Evolving software architectures go beyond the monolithic systems of the past, to enable more flexibility, more scalability and faster time to market. Today, its corporate headquarters is located in Chicago, Ill., where it actively gives back to the community. 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. Reviews from A.M. Best indicate an insurance companys financial strength and creditworthiness, and are based on comprehensive evaluations of the companys operating performance, business profile, and balance sheet. EquiTrust Life Insurance Company was purchased by Guggenheim Partners in 2011. Comparison shopping should be easy. This information may be different than what you see when you visit an insurance provider, insurance agency, or insurance company website. Access technology tools and resources for U.S. insurance regulators. In 2012, Guggenheim affiliates acquired the US annuities business of Canadian insurers Industrial Alliance and Sun Life Financial. The phoneline contact option is offered at restricted hours, Monday-Friday. (Annual sales and employees). investor.relations@brighthousefinancial.com. And we do it all by standing true to our principles and offering the integrity you look for in an insurance company. Read the 9th Annual B2B Sales & Marketing Data Report New: B2B Data Report! Thats why it can be helpful to have an expert on your side who provides objective, non-biased advice. Site features products, a retirement center offering financial strategies, and a press room. (See more.) However, EquiTrust was recognized as among the Wards 50 for their top-notch financial performance from 2013-2017. Minimum Premium: $10,000 NQ/Q. reduce returns). Its virtually impossible to find any customer reviews above a 1-star rating anywhere on the web, which says a ton about the carriers customer service practices. * Financial Analysis: preparation of monthly executive financial report, annual financial report for state . 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. The EquiTrust Life Insurance Company first opened its doors for business in 1996. All are Brighthouse Financial affiliated companies. D&B Hoovers TM Wins 3 Best Of Awards from TrustRadius! 1991-2023 National Association of Insurance Commissioners. With a trusted expert in your corner, finding the perfect combo of coverage and cost is a breeze. Find contact information for insurance departments and local insurance agents, or file a complaint. Surrender Charge. 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. Our founder was born into slavery and grew Plus, there are tax advantages to owning a fixed annuity. Personalized Illustrations. 3. Unfortunately, you cant apply for this policy if you have any pre-existing health conditions. These ratings are considered Good, but many consumers become wary of insurance companies not rated a minimum of A or better. Keep reading to learn more about this company and what it can offer you. Today, this company holds north of $17 billion in assets under management. The official website is also lacking common customer service options such as getting matched with an agent or requesting quotes. 10,000+ Employees. Compare Quotes From Top Companies and Save. EquiTrust offers fixed-rate and indexed annuities and life insurance and is headquartered in Chicago with operations in West Des Moines. EquiTrust Life Insurance Company. Annual Reports. Sapiens DigitalSuite offers a dynamic, digital engagement and enablement platform for insurers to provide a unified, omni-channel experience. Membership lists, services and education to serve you and your mission. Steps to Completing a Financial Statement Filing. The insurance company does not list their official claims process on their website beyond how to file. Jason Fisher is the founder and CEO of BestLifeRates.org, LLC. The company offers fixed indexed, immediate and fixed annuities, as well as life insurance policies. No online claims reporting option. EquiTrust Life will provide a 12 percent bonus paid over three years. 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. View contracts online. For any applicants suffering from an illness or worrying about their current state of health, you can breathe a sigh of relief. Professional development for state insurance regulators and industry professionals. This material is not intended to provide investment advice to . EquiTrust Life Insurance Company 2022 Ratings. Many customers also trust EquiTrust to handle retirement income or wealth transfer. EquiTrust only offers one phoneline for customers to inquire about any of their needs, including filing claims. BBB+ from Standard and Poor's. The company also has earned a Comdex rating of 43. 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. Customers can call the carrier or contact their independent insurance agent if they have questions about how to file. Given its focus on index-linked insurance vehicles, EquiTrust Life Insurance Company offers several fixed index annuities. Access forms, tools, and resources for individuals and organizations to file forms, improve efficiency, and remain compliant. Doing so can be difficult especially given the overwhelming amount of small print that is oftentimes associated with annuities. At Annuity Gator, we take the frustration out of shopping for annuities. An optional terminal illness rider may be added for an additional premium cost. Click the button below to request a report when hardcopies become available. This rating has decreased by -9% over the . Rachael Brennan The insurance company also does not offer online claims reporting through their website, which puts them far behind many other modern carriers. Only dismal customer reviews spotted across the web. For example, EquiTrust employees are encouraged to fill their time with charitable exploits and donate funds to non-profits. That just isnt up to par with other insurance companies around today. All Rights Reserved | Privacy Policy, Independent Review of Fidelity and Guaranty Life Insurance Company, Independent Review of Eagle Life Insurance Company, We use cookies to enhance your experience while using our website. In addition, FBL manages all aspects of two Farm Bureau affiliated. Your personal tax advisor can provide important . SmartAsset does not A financial services company newly renamed and offering individual and business life insurance, and annuities. A+ (excellent) rating by Better Business Bureau (BBB). 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). We strive to help you make confident insurance decisions. Nursing Home and Terminal Illness Waivers. The NAIC provides expertise, data, and analysis for insurance commissioners to effectively regulate the insurance industry and protect consumers. review the ongoing performance of any Adviser, participate in the management of any users account by an Stop.Call.Confirm is a registered service markof the National Association of Insurance Commissioners. To earn this prestigious title, the company must successfully ace a variety of screenings and aim for superior execution during the years specified. We do not manage client funds or hold custody of assets, we help users connect with relevant financial If you do not have permission, continuing to attempt to access this site and its resources 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. Please read the risks discussed under the heading Risk Factors in our most recent Annual Report on Form 20-F, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. Thankfully, if you need cheap life insurance to protect your loved ones, there are other life insurance products you can utilize. So lets examine these policies closely to discover which one could be the best fit for your needs. Skilled in IT Management, Software Development Life Cycle (SDLC), Management . All investing involves risk, including loss of High rating through the BBB. This information is designed to help you with your decision-making, and it is not intended to provide advice. EquiTrust is one of the best life insurance companies to increase your cash flow. The third, named WealthPay LifeTM, is really a combination product. Client-Use Renewal-Rates Flyer. Applicant ages generally range between 50-85, and a Return of Premium Rider is also available at no additional charge. The following is our unbiased EquiTrust Life Insurance Company Review, and it is solely based on our own opinion. Written by The life insurance side is a fixed premium IUL insurance product, and growth is tied to the stock market indexes. Because of its high ratings, award-winning recognition, and impressive progression over time, EquiTrust Life Insurance Company has developed a reputation as a financially stable insurance company with a positive outlook for the future.