equitrust life insurance company annual report

of the law. reduce returns). Transmit your filing to the NAIC via the Internet. investor.relations@brighthousefinancial.com. So, feel free to reach out to us by phone at (888) 440-2468, or via email through our secure online contact form and schedule a time to chat with us. In 2015, Magic Johnson Enterprises (MJE) became a controlling shareholder of the insurance provider. 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. FBL currently underwrites, markets and distributes life insurance, annuities and mutual funds to individuals and small businesses. Compound annual growth in premiums between -10% and +40% . All Rights Reserved. Today, its corporate headquarters is located in Chicago, Ill., where it actively gives back to the community. In addition, premiums paid into the policy at approval see a 12% bonus immediately. EquiTrust even matches their employees charitable donations and pays employees for a day of volunteering during the year. Sales Week: Simple technology to boost Bridge sales register for our webinar to see a demo! is in violation of the regulations of this system. Independent insurance agents can help make customer service easier for you by handling claims and other concerns. EquiTrust is a national carrier of competitive, client-friendly annuity and life insurance products, available through a national network of independent sales representatives. Most clients invest in an annuity to pursue accumulation or cash-flow goals. 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. EXAMINATION REPORT OF EQUITRUST LIFE INSURANCE COMPANY WEST DES MOINES, IOWA AS OF DECEMBER 31, 2011 . Copyright 2022 Sapiens International. An optional terminal illness rider may be added for an additional premium cost. Guggenheim Partners, LLC., purchased the company from FBL Financial Group, which EquiTrust was a subsidiary of since its establishment in 2003. 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. Two multi-asset, risk-controlled index options provide an extra level of diversification. 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. All names, marks, and materials used for the reviews on this site are property of their respective owners, and not those of AnnuityGator.com. The official website is also lacking common customer service options such as getting matched with an agent or requesting quotes. 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.. We award EquiTrust Life Insurance a final rating of 1.5 out of 5 stars. This rating has decreased by -9% over the . 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. Disclaimer: www.InsuranceBlogByChris.com strives to present the most up-to-date and comprehensive information on saving money on insurance possible. EquiTrust will immediately credit your contract an extra 6% on any premiums paid during the first five contract years. The EquiTrust Life Insurance Company first opened its doors for business in 1996. MARKETTWELVE BONUS INDEXfrom EquiTrust Life Insurance Company gives you benefits when markets are rising, and security when they're fluctuating. EquiTrust is a smaller carrier in relation to competitors, yet still has more than $17 billion in assets under management. Active CPA and . As a result of hard work and talented people, we are doing well. 4.0 . 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. EquiTrust Values. Sales Week: EquiTrust ads bring business to your doorstep or inbox. Read the 9th Annual B2B Sales & Marketing Data Report New: B2B Data Report! Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Raleigh, N.C., Jun21, 2022Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that EquiTrust Life, a leading North American life and health insurance company, has selected Sapiens award-winning suite of e-application, illustration and digital solutions to provide their agents next generation customer acquisition and service capabilities. Website at Agents.EquiTrust.com. Select a state or jurisdiction for insurance department contact information. 10,000+ Employees. The EquiTrust Life Insurance Company ratings indicate that this company will have . Skilled in IT Management, Software Development Life Cycle (SDLC), Management . And we do it all by standing true to our principles and offering the integrity you look for in an insurance company. Income Rider: Includes Benefit Base bonus of 7% on first-year premiums plus Benefit Base compounds annually at 7% for up to 7 years; 1.25% annual fee on Accumulation Value; chronic-illness doubler. 1. 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. 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. Posted: January 19, 2023. According to the lawsuit, EquiTrust designed a . 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. Working with an adviser may come with potential downsides such as payment of fees (which will 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 was a great company at one time. 60% of employees would recommend working at EquiTrust Life Insurance Company to a friend and 83% have a positive outlook for the business. Since EquiTrusts products are distributed exclusively through independent insurance agents, clients can ensure theyre getting the best coverage at the best rate possible. 2021 Annual Report to Stockholders. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. EquiTrust is also not currently BBB accredited, and has had several customer complaints filed against them through the organization in recent years. There are many reputable life insurance companies in the market today that sell a wide variety of policies. EquiTrust is one of the best life insurance companies to increase your cash flow. The EquiTrust Life Insurance Company provides life insurance policies that allow its clients to increase their cash flow. 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 . SEC CIK #0001054501. This information is designed to help you with your decision-making, and it is not intended to provide advice. Compare Quotes From Top Companies and Save. Term life insurance policies only last for a set number of years, but you can get an immense amount of coverage at a very low rate, as you can see here: Many insurance companies even offer term policies that can be converted into permanent coverage without the need to reassess your inseparability. Nothing on this website is a recommendation to buy or sell an annuity. Managers play favorites, have created a hostile environment where bullying their employees is acceptable. 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. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. Keep reading to learn more about this company and what it can offer you. By continuing to access this system you acknowledge you are aware of and agree to these terms. The NAIC provides expertise, data, and analysis for insurance commissioners to effectively regulate the insurance industry and protect consumers. 1991-2023 National Association of Insurance Commissioners. Official website is sorely lacking. Violators can and will be prosecuted to the full extent MONTHLY OVERVIEW: February updates, recaps and department news. If you do not have permission, continuing to attempt to access this site and its resources Applicant ages generally range between 50-85, and a Return of Premium Rider is also available at no additional charge. 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, while not a large insurance company by industry standards, has a unique set of products to fit investment-minded individuals approaching or in retirement. 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. Click to subscribe for email notifications of new items posted to this page. 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. For this particular review, well focus just on the life insurance side of things: With a focus on accumulation and leverage, EquiTrusts life insurance products are aligned to help consumers utilize their current cash or cash flow for growth with the future in mind. Thankfully, if you need cheap life insurance to protect your loved ones, there are other life insurance products you can utilize. EquiTrust Life Insurance Company has an overall rating of 3.4 out of 5, based on over 16 reviews left anonymously by employees. 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 Flag as Inappropriate. Their coverage offerings include: If youre on the market for life insurance or annuities, EquiTrust Life Insurance Company may have just the type of product youre looking for. Below are the most recent examination reports for each insurance company listed. Adviser or provide advice regarding specific investments. Avi Shekhtman Read more by Avi Shekhtman. Sapiens end-to-end solution empowers EquiTrusts strategic initiative to increase sales with a more intuitive, engaging experience. A relative newcomer to the insurance industry, EquiTrust was established in 1996. Applicants must be between the ages of 45 and 80. Evolving software architectures go beyond the monolithic systems of the past, to enable more flexibility, more scalability and faster time to market. This creates no additional cost to you, and helps provide us an income so we can continue to bring valuable information to your fingertips. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is Agent Pay Is Built Into the Policy. 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. Permission and instructions to access this system can be obtained from the SmartAsset access control The carrier does have solid financial strength, and A.M. Best places them in the $1.25-$1.5 billion financial size category. Only dismal customer reviews spotted across the web. These ratings are considered Good, but many consumers become wary of insurance companies not rated a minimum of A or better. We also use content and scripts from third parties that may use tracking technologies. For example, there is no outline of an official claims process or claims response timeframe to be found. Account Options. 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. Identify what your insurance needs are and how EquiTrust could meet them for you and your family. EquiTrust Life Insurance Company is a trusted provider of life insurance and annuity products with a strong track record of operating performance. 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. 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. The carrier does have solid financial strength, and A.M. Best places them in the $1.25-$1.5 billion financial size category. Many pages could stand to be fleshed out quite a bit more, and a disturbing amount of pertinent information seems to be lacking entirely. Dina Vince Head of Investor Relations, Sapiens. 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. Percentage of accumulation value by contract year: 12, 11, 10, 9, 8, 7, 6, 4, 2%. We're here to help. However, EquiTrust was recognized as among the Wards 50 for their top-notch financial performance from 2013-2017. [CDATA[// >