Carol Woodruff - Vice President, Information Systems - EquiTrust Life Class Action Launched Against EquiTrust Life Insurance Company EquiTrust Life Insurance Company | LinkedIn Equitrust Life Insurance Fast Facts. 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 Market Ten Bonus Annuity (Up To 6% Bonus) Use of this system and its resources is monitored at all times and requires explicit and current permission. EquiTrust Life will provide a 12 percent bonus paid over three years. No official claims response timeframe promise. D&B Hoovers TM Wins 3 Best Of Awards from TrustRadius! Subject to IRS daily maximum. Earvin Magic Johnson's Equitrust funds over $100 million for minority 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. Customers have reported frustration with having claims answered and processed within a reasonable timeframe. 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. Financial Internet Filing Online User's Guide, For questions about statement filing: Nothing on this website is a recommendation to buy or sell an annuity. The life insurance side is a fixed premium IUL insurance product, and growth is tied to the stock market indexes. EquiTrust - Overview, News & Competitors | ZoomInfo.com Such forward-looking statements may be identified by the use of the words anticipate, believe, estimate, expect, may, will, plan and similar expressions. In October 2011, it acquired the life insurance company EquiTrust from FBL Financial Group. (816) 783-8089orAcctgRec@naic.org, For questions about NAIC Numbers or cocodes call: Is the EquiTrust Life Insurance Company highly rated? In June of 2015, Magic Johnson Enterprises (MJE) became controlling shareholder of EquiTrust. EXAMINATION REPORT OF EQUITRUST LIFE INSURANCE COMPANY WEST DES MOINES, IOWA AS OF DECEMBER 31, 2011 . Market Value Index Annuity from EquiTrust Life Insurance Company gives you the benefits when markets are rising and protection when they're fluctuating. Shopping for a company? 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. If, however, the underlying performs poorly in a given period, there are no losses to your account. The Based in Northbrook, Illinois. EquiTrust Life Insurance Company Reviews - Glassdoor This information may be different than what you see when you visit an insurance provider, insurance agency, or insurance company website. 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. BBB+ from Standard and Poor's. The company also has earned a Comdex rating of 43. Guggenheim Partners - Wikipedia For those concerned about the underwriting process, EquiTrusts UnderWRITE-NOW Processing doesnt require applicants to undergo a medical exam to secure coverage. All content is posted anonymously by employees working at EquiTrust Life Insurance Company. EquiTrust is also not currently BBB accredited, and has had several customer complaints filed against them through the organization in recent years. 2023, Consumer Agent Portal, LLC. Forms are available on the website to make claims filing easier. Our three-year blueprint for the future shows the way toward building on existing strengths. View actions considered by committees, task forces, and subgroups, as well as charges, schedules, and staff links. EquiTrust Life Variable Account . High rating through the BBB. In addition, FBL manages all aspects of two Farm Bureau affiliated. Stop.Call.Confirm is a registered service markof the National Association of Insurance Commissioners. Financial Ratings. At Annuity Gator, we take the frustration out of shopping for annuities. All Rights Reserved. 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. An optional terminal illness rider may be added for an additional premium cost. FBL Financial Group Inc. - AnnualReports.com The EquiTrust Life Insurance Company ratings indicate that this company will have . Working at EquiTrust Life Insurance Company: 17 Reviews Many pages could stand to be fleshed out quite a bit more, and a disturbing amount of pertinent information seems to be lacking entirely. EquiTrust began working with independent insurance agents and expanded its reach from just 15 states to a nationwide presence in 2003. 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. Call (866) 598-3694. We're dedicated to providing you with new financial ideas to help meet your specific needs. platform based on information gathered from users through our online questionnaire. Since EquiTrusts products are distributed exclusively through independent insurance agents, clients can ensure theyre getting the best coverage at the best rate possible. EquiTrust Life Annuity Account - SEC.gov. Products underwritten and issued by EquiTrust Life Insurance Company, West Des Moines, Iowa. 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. Products distributed by EquiTrust Insurance Marketing Services; in California doing business as EQT Insurance Marketing Services. Product not available in all states or may vary by state. The carrier is rather viewed as a financial tool for asset accumulation and estate or legacy planning. Annuity News. 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. 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. Are cheaper life insurance policies available? 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. An annuity is a fixed amount of money paid to you from an insurance firm. Developments and trends in financial markets and insurer investments. In addition, premiums paid into the policy at approval see a 12% bonus immediately. Erie Insurance is a pretty good insurance company, offering homeowners, business and umbrella insurance policies, in addition to auto coverage. 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 . Tabares et al v. Equitrust Life Ins. Co. - United Policyholders It is built on the understanding that competitive returns and minimal taxation are . EquiTrust Agent Portal Consumers can utilize these products to not only protect themselves, but to also potentially grow and leverage their cash. Thats why it can be helpful to have an expert on your side who provides objective, non-biased advice. Membership lists, services and education to serve you and your mission. To compare quotes from many different insurance companies please enter your ZIP code on this page to use the free quote tool. EquiTrust Life Insurance Company Employee Reviews in West Des - Indeed EquiTrust has a good rating through A.M. Best, but it's not as highly rated as many other modern insurance companies. EquiTrust Life Insurance Company - EquiTrust Life Insurance Company EquiTrust Life Insurance Company 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. 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. EquiTrust is a national carrier of competitive, client-friendly annuity and life insurance products, available through a national network of independent sales representatives. Compared to many modern insurance companies, EquiTrusts official website leaves much to be desired. 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. Award-Winning Sales Intel. EquiTrust earns this recognition for performance from 2017 through 2021. 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. Since 1996, EquiTrust has demonstrated exceptional growth by achieving $23 billion in assets under management. The rating was last updated on 09/09/2022. These include: While all of EquiTrusts policies can help you increase your wealth, each is unique. EquiTrust Hit With Suit Over Unauthorized Payout Fees / Equitrust Life Insurance Company Inc; Equitrust Life Insurance Company Inc. Website. 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. 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. Files on this page are PDF. 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. Are Any of These Annuities Right for You? EquiTrust Life is a specialized insurance company, with a focus on life insurance. . EquiTrust Agent Portal For questions regarding cocodes please call us at: 816-783-8600. Subsequent annual maximum after year 1: $250,000 Contract maximum without prior EquiTrust approval: $1,000,000. EquiTrust Life Insurance Company. More. 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. PA 2700-FM-AQ0021 2007 . You wont have to worry about an extensive or invasive underwriting process when you choose EquiTrust for your insurance needs. When it comes to annuities, EquiTrust offers one-year renewable, multi-year, and index-linked accumulation products along with a single premium immediate payout annuity. For this reason, theyre not suitable to meet everyones insurance needs. Quotes and offers are not binding, nor a guarantee of coverage. Title. Explore future meetings and access past event documents. Equitrust Annuity | MarketSeven Annuity - The Annuity Expert 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. However, EquiTrust was recognized as among the Wards 50 for their top-notch financial performance from 2013-2017. Posted: January 19, 2023. Steps to Completing a Financial Statement Filing. EquiTrust Life Insurance Company has an overall rating of 3.4 out of 5, based on over 16 reviews left anonymously by employees. Overview. 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. Working with an adviser may come with potential downsides such as payment of fees (which will Financial Statement Filing & Step Through Guide, Raymond G. 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By continuing to access this system you acknowledge you are aware of and agree to these terms. Allstate Corporation. at 866-598-3694 or visit the Agent. 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. This company has a Sustainability Report available to view on our partner site, ResponsibilityReports.com. Save my name, email, and website in this browser for the next time I comment. To earn this prestigious title, the company must successfully ace a variety of screenings and aim for superior execution during the years specified. Atlanta Life Insurance - Atlanta Life Insurance Applicants must be between the ages of 45 and 80. 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. 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. Jason Fisher is the founder and CEO of BestLifeRates.org, LLC. A relative newcomer to the insurance industry, EquiTrust was established in 1996. Phone Number: 3127023400 Company Address: 7100 WESTOWN PARKWAY, SUITE 200 WEST DES MOINES, IA 50266 Description: Life and Health . Company number. 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. Annual Reports | Financial Information | Investor Relations Insurtech Customer Success Stories; With Xceedance, Sapiens, Opal, and CommBox, SAPIENS REPORTS Q4 AND FULL YEAR 2022 FINANCIAL RESULTS, South African Insurer Hollard Group Risk Implements Sapiens for Complete Core Transformation for Life & Pensions, How to make insurance appealing to millennials, Gen Z, MS Amlin Insurance Selects Sapiens for Transformation of its Commercial Lines Operations across Multiple Countries. U.S. Industry Overview & Market Statistics: JOHN HANCOCK LIFE INSURANCE COMPANY U.S.A. BLUE CROSS & BLUE SHIELD OF NORTH CAROLINA, EBIT (Earnings Before Interest and Taxes), Revenue from previous years (2010 to present), Funding from Venture Capital and Private Equity firms, Additional industries in which the company operates, What is the company's size? Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. (816) 783-8400, For questions about the database & electronic filing: We update our site regularly, and all content is reviewed by insurance experts. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is EquiTrust Life Insurance Review - Good Financial Cents According to the lawsuit, EquiTrust designed a . American Republic - About Us Royal Neighbors of America Royal Choice 10 Fixed Annuity Review Royal Neighbors of America Royal Choice 7 Fixed Annuity Review. You can check out all of the benefits of the Confidence Income Annuity HERE. EquiTrust Cares is an excellent example of how this company values giving back and contributing to philanthropic organizations through paid time off for volunteering. Licensed Insurance Agent. Strong financial stability. It includes a death benefit, as well as a nursing home waiver. There are many reputable life insurance companies in the market today that sell a wide variety of policies. 10,000+ Employees. Surrender charges may vary by state. COMPANIES; REPORTS; LAWS, RULES & GUIDANCE; Company search. Independent insurance agents can help make customer service easier for you by handling claims and other concerns. EquiTrust Life Insurance Company. 1991-2023 National Association of Insurance Commissioners. Examination Reports | Iowa Insurance Division This rating has decreased by -9% over the . Your personal tax advisor can provide important . BBB File Opened: 8/13/2012. 24 reviews. View contracts online. I started Insurance Blog by Chris because I have a passion for insurance. EquiTrust Annuity Review | SmartAsset.com 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. It was incorporated under the laws of Delaware on January 12, 1970 and commenced business on January 1, 1973. review the ongoing performance of any Adviser, participate in the management of any users account by an Now, Magic Johnson Enterprises owns a large portion of the EquiTrust Life Insurance Company. 54% of EquiTrust Life Insurance employees are women, while 46% are men. Also, there are many dismal customer reviews across multiple sites detailing frustrating encounters with the insurance company, and disappointment in their coverage. EquiTrust Pros: About a quarter of a centurys worth of experience in the insurance industry. Allstate Corporation - AnnualReports.com These policies are single-premium, and you must pay at least $10,000 to activate your policy. Skilled in IT Management, Software Development Life Cycle (SDLC), Management . 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. THE ATLANTA LIFE INSURANCE COMPANY At Atlanta Life, we bring 100 years of experience to every customer we serve. 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. EquiTrust Life Insurance Company American Republic remains focused on delivering quality coverage . 1 West Des Moines, Iowa March 12, 2013 HONORABLE Nick GERHART Commissioner of Insurance . 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. You can also use EquiTrust Life Insurance Company reviews like this one to help you discover the right life insurance company for your needs. Full-Time. 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. Keep reading to learn more about this company and what it can offer you. Get a D&B Hoovers Free Trial. Annuity Reviews Database of Over 300+ Reviews | Annuity Gator Company/Agent Search | Missouri Department of Insurance, Financial Such statements reflect our current views with respect to future events and are subject to pandemic risks and uncertainties. principal. Two multi-asset, risk-controlled index options provide an extra level of diversification. EquiTrust Life Insurance Company was purchased by Guggenheim Partners in 2011. 2021 Annual Report to Stockholders. The NAIC will be working to ensure that companies have complied with electronic filing requirements and financial reporting requirements contained in the Blanks, Annual Statement Instructions and Purposes and Procedures Manual of the NAIC Investment Analysis Office,and any data validation failures are resolved. Transform your core with next generation, digital-led solutions designed to deliver enhanced, frictionless experiences, and increase efficiency, revenue and success. For more information on how we're paid, click our link below.Full Disclosure. 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.
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