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In June of 2015, Magic Johnson Enterprises (MJE) became controlling shareholder of EquiTrust. Raleigh, N.C., Jun21, 2022 Sapiens 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 . The rating was last updated on 09/09/2022. Our goal is to be an objective, third-party resource for everything insurance related. For this reason, theyre not suitable to meet everyones insurance needs. Have questions about any kind of insurance? BestLifeRates.org, LLC. Call (866) 598-3694. It is built on the understanding that competitive returns and minimal taxation are . Most of the time, you'll see your account growing in value. Occasionally the Iowa Insurance Division will conduct a focused examination related to a particular issue involving an insurance company domiciled in another state.) The website also does not provide important information about claims processing. EquiTrust Life Insurance Company is a trusted provider of life insurance and annuity products with a strong track record of operating performance. LEARN MORE Alonzo Franklin Herndon Founder Born from a bright dream. We attempt, within reason, to ensure all quotes are up to date, though rates change periodically and are never guaranteed. Call Sales Support. The more quotes you compare, the more chances to save. 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. Given its focus on index-linked insurance vehicles, EquiTrust Life Insurance Company offers several fixed index annuities. View contracts online. EquiTrust Life Insurance Company 2023 Ratings, Founder of Huntley Wealth & Insurance Services. SmartAsset does not Sapiens end-to-end solution empowers EquiTrusts strategic initiative to increase sales with a more intuitive, engaging experience. However, for those who fit the bill, EquiTrust Life Insurance Company could be an excellent financial resource and tool. Sales Week: EquiTrust ads bring business to your doorstep or inbox. Forms are available on the website to make claims filing easier. Reviewed by 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. Offers life insurance and annuities. Its primary operating subsidiary, Farm Bureau Life Insurance Company, underwrites and markets a broad range of life insurance and annuities to individuals and businesses. 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. at 866-598-3694 or visit the Agent. 2021 Annual Report to Stockholders. Our opinions are our own. Allstate Corporation does not currently have any hardcopy reports on AnnualReports.com. 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. The Midland Life Insurance Co. Jan 1991 - Jan 19976 years 1 month. This single premium deferred annuity features guarantee periods of 3, 5, 6, 8 or 10 years. Select a state or jurisdiction for insurance department contact information. Surrender charges may vary by state. Many customers also trust EquiTrust to handle retirement income or wealth transfer. This feature isnt available with every term life insurance policy, though, so you should also read the fine print before putting any money down. The experience at EquiTrust varies depending on what department you work in. EquiTrust Life Insurance Company is a trusted provider of life insurance and annuity products with a strong track record of operating performance. Customers can call the carrier or contact their independent insurance agent if they have questions about how to file. These ratings are considered Good, but many consumers become wary of insurance companies not rated a minimum of A or better. Contract E-Delivery is Here! The Premium Equitrust Life Insurance Company Report contains critical information including: Revenue from previous years (2010 to present) . document.write((new Date()).getFullYear()); (816) 783-8089orAcctgRec@naic.org, For questions about NAIC Numbers or cocodes call: 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. 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. About Us. You should also note that a WealthMax Bonus Life is typically issued as a Modified Endowment Contract. 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. What this does, in effect, is give EquiTrust and its investment division the ability to begin growing capital immediately. For example, EquiTrust employees are encouraged to fill their time with charitable exploits and donate funds to non-profits. Access forms and tools to file expense reports, review grant and zone scholarship balances, and travel guidelines. For those concerned about the underwriting process, EquiTrusts UnderWRITE-NOW Processing doesnt require applicants to undergo a medical exam to secure coverage. If you dont have an extra $10,000 lying around, though, you may want to investigate other insurance companies that offer more affordable whole life insurance policies. Click the button below to request a report when hardcopies become available. 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. 2021 Annual Report to Stockholders 1.5 MB. Having a problem with an insurance company or agent? Report Flag as Inappropriate. 2020 Annual Report to Stockholders. 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. 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. Explore future meetings and access past event documents. reduce returns). EquiTrust has a good rating through A.M. Best, but its not as highly rated as many other modern insurance companies. The Ward Group analyzes the financial performance of over 700 US-based life and health insurance companies. Doing so can be difficult especially given the overwhelming amount of small print that is oftentimes associated with annuities. That just isnt up to par with other insurance companies around today. All are Brighthouse Financial affiliated companies. Stop.Call.Confirm is a registered service markof the National Association of Insurance Commissioners. 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. 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. Privacy Policy. Senior Customer Service Representative (Former Employee) - West Des Moines, IA - June 13, 2020. The carrier does have a couple of decades worth of experience under its belt in the industry now, and has a high rating through the BBB. At Annuity Gator, we take the frustration out of shopping for annuities. 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. Access forms, tools, and resources for individuals and organizations to file forms, improve efficiency, and remain compliant. Professional development for state insurance regulators and industry professionals. The EquiTrust Life Insurance Company provides life insurance policies that allow its clients to increase their cash flow. All Rights Reserved. 1991-2023 National Association of Insurance Commissioners. Annuity riders may be available for an additional annual premium that can provide additional benefits and income guarantees. The carrier is rather viewed as a financial tool for asset accumulation and estate or legacy planning. 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. Files on this page are PDF. American Republic remains focused on delivering quality coverage . EquiTrust Life Insurance Company is likely suitable for a very small number of consumers, but can be a great company for applicants to work with if the shoe fits. These policies are single-premium, and you must pay at least $10,000 to activate your policy. Applicant ages generally range between 50-85, and a Return of Premium Rider is also available at no additional charge. All content is for educational purposes only. A Name You Can Trust. NOTE: Some states allow companies to utilize electronic signatures in documents from companies such as DocuSign. 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. platform based on information gathered from users through our online questionnaire. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is EquiTrust Life Insurance Company has an overall rating of 3.4 out of 5, based on over 16 reviews left anonymously by employees. However, for those who fit the bill, EquiTrust Life Insurance Company could be an excellent financial resource and tool. 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. D&B Hoovers TM Wins 3 Best Of Awards from TrustRadius! Exclusive, industry-focused manuals, data, and more. A high rating from A.M. Best assures customers that EquiTrust is capable of offering guaranteed, secure coverage from a reputable carrier. Should you feel confident pursuing EquiTrust for your insurance needs? Therefore, the PDFs cannot be made available to state insurance regulators. Please fill out the form below and click "Place Order" to complete your order. Are Any of These Annuities Right for You? Annuity product guarantees rely on the financial strength and claims-paying ability of the issuing insurer. Adviser or provide advice regarding specific investments. Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. Leave us a note in the comments - we love everything insurance! West Des Moines, IA. If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. It is extremely important that all filings are accurate, complete, and timely. Violators can and will be prosecuted to the full extent Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Thankfully, if you need cheap life insurance to protect your loved ones, there are other life insurance products you can utilize. 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. January 14 2009 - by Lucy Campbell. ANNUAL REPORT FOR REGISTERED INVESTMENT COMPANIES OMB APPROVAL: Form N-CEN. Customers have reported frustration with having claims answered and processed within a reasonable timeframe. Unlike most of the top ten best life insurance companies weve rated thus far, EquiTrust Life is more of a niche insurer, meaning they definitely have a specialty and dont stray far from it. So lets examine these policies closely to discover which one could be the best fit for your needs. As of 2020, the insurance company has a reported $20.7 billion in total assets. administrators. property-casualty insurance companies for a management fee. EquiTrust Life Insurance Company . Jason Fisher is the founder and CEO of BestLifeRates.org, LLC. May 1, 2008 EquiTrust Life Insurance Company (the "Company") is offering the. However, you wont be able to conduct an internet search for the EquiTrust stock price as this is not a publicly listed company. Contact a local independent agent in the Trusted Choice network today for assistance concerning the insurance options that are available to you. 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. EquiTrust allows customers to file claims via email, fax, or phone. For more information on EquiTrust Insurance Companys Certainty Select Annuity, go HERE. 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. 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 . Transmit your filing to the NAIC via the Internet. Applicant Ages: 0-85 (no IBR); 40-85 (with IBR. Vice President of Sales and Marketing. Applicants must be between the ages of 45 and 80. EquiTrust Life Insurance Company is a national carrier of competitive, client-friendly annuity products sold through a variety of distribution channels, including more than 20,000 independent . EquiTrust is a smaller carrier in relation to competitors, yet still has more than $17 billion in assets under management. You can even use life insurance to provide yourself with more financial security while youre alive. Leveraging Sapiens toolkit, the solution provides self-sufficiency and reduces total cost of ownership. 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 . 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. 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. Our annuity experts are also available to answer any of the question or concerns that you may have, whether you are just starting to shop for an annuity, or youve owned one for some time and you want to ensure that its still performing the way it was meant to. 2. 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 more information on how we're paid, click our link below.Full Disclosure. In this material, the terms advisor and financial advisor are used as general references to licensed insurance professionals and are not intended to indicate whether the licensed insurance professional is a Registered Investment Advisor or is otherwise authorized under the law to provide financial advice. As always, conduct your own research on a variety of carriers before signing any paperwork. Avoid market losses - guaranteed. You can selectively provide your consent below to allow such third party embeds. 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. EquiTrust has a good rating through A.M. Best, but it's not as highly rated as many other modern insurance companies. 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). 10,000+ Employees. EquiTrust Values. Have a question or request? The most common ethnicity at EquiTrust Life Insurance is White (76%), followed by Hispanic or Latino (11%) and Asian (7%). 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. 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. High rating through the 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). In return, the client receives an instantly leveraged death benefit with long-term growth potential. Enter your ZIP code below to view companies that have cheap insurance rates. With solid core values of integrity, leadership, accountability, teamwork, and passion, EquiTrust is certainly worth looking into if their product suite aligns with your financial needs and lifestyle. One of the most popular types of life insurance policies for consumers on a budget is a term life insurance policy. The policy shares its initial payment with an annuity, but the return collected through the annuity is eventually returned to the life insurance policy. Click to subscribe for email notifications of new items posted to this page. We strive to help you make confident insurance decisions. 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. Type of Entity: Corporation. To compare quotes from many different insurance companies please enter your ZIP code on this page to use the free quote tool. The life insurance side is a fixed premium IUL insurance product, and growth is tied to the stock market indexes. All rights reserved. Founder of Huntley Wealth & Insurance Services. The carrier does have solid financial strength, and A.M. Best places them in the $1.25-$1.5 billion financial size category. A vast majority (over 95%) of these assets are considered investment grade, though . Sapiens DigitalSuite offers a dynamic, digital engagement and enablement platform for insurers to provide a unified, omni-channel experience. EquiTrust Pros: About a quarter of a centurys worth of experience in the insurance industry. 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. Financial Ratings. 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. Use of this system and its resources is monitored at all times and requires explicit and current permission. And just . Consumers can utilize these products to not only protect themselves, but to also potentially grow and leverage their cash. 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. Links for Internet Filing are provided to the right. You only need to make one payment to activate a WealthPay Life policy from EquiTrust. A financial services company newly renamed and offering individual and business life insurance, and annuities. 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.