3. Avi Shekhtman Read more by Avi Shekhtman. Have a question or request? We do not manage client funds or hold custody of assets, we help users connect with relevant financial In 2016, EquiTrust surpassed $17 billion in total assets. If youre a consumer who only wants to work with financially strong companies, youll be pleased with the EquiTrust life Insurance Company financial ratings: Additionally, EquiTrust has an A+ from the Better Business Bureau. is in violation of the regulations of this system. 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. For complete information about the cookies we use, data we collect and how we process them, please check our. All names, marks, and materials used for the reviews on this site are property of their respective owners, and not those of AnnuityGator.com. Learn more Arizona Department Of Insurance 2012/2013 Annual. 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 . Reviewed by Their life insurance policies come with the following perks: Your independent insurance agent can help you find out more about EquiTrusts life insurance policies, as well as their other products. We are very excited to partner with EquiTrust Life on their digital transformation journey, said Jamie Yoder, Sapiens North America President & General Manager. Product not available in all states or may vary by state. EquiTrust provides phone claims reporting as well as fax and email claims reporting options for their customers. Therefore, despite its positive surplus and solvency, its been rated just B++ by A.M. Best, as well as BBB+ by Standard & Poors. Everything I learned was self taught with demanding deadlines and being understaffed in our department. We update our site regularly, and all content is reviewed by insurance experts. 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. Equitrust Life Insurance Fast Facts. EquiTrust Life Annuity Account - SEC.gov. Plus, there are tax advantages to owning a fixed annuity. Description. Or talk to an agent now at (855) 372-0071, Massachusetts Mutual Life Insurance Company Review. 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. 7100 Westown Pkwy Suite 200, West Des Moines, IA 50266-2521. The following is our unbiased EquiTrust Life Insurance Company Review, and it is solely based on our own opinion. Report Flag as Inappropriate. The Midland Life Insurance Co. Jan 1991 - Jan 19976 years 1 month. 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. principal. In 2012, Guggenheim affiliates acquired the US annuities business of Canadian insurers Industrial Alliance and Sun Life Financial. Its "A+" rating through the BBB is impressive, though. Consumers can utilize these products to not only protect themselves, but to also potentially grow and leverage their cash. advisors. Copyright 2020-2023|www.InsuranceBlogByChris.com|113 Cherry Street, #37960 Seattle, Washington 98104-2205|Privacy Policy|Terms & Conditions|CCPA. 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 . 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. (816) 783-8400, For questions about the database & electronic filing: Applicants must be between the ages of 45 and 80. 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. Are Any of These Annuities Right for You? Trail commissions are payable annually based on the contract's Accumulation Value on the contract's anniversary date. Claim types include Death Claims, Nursing Home Waivers, Annuitizations, Accelerated . 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. For this reason, theyre not suitable to meet everyones insurance needs. So, is this a brand you and your family can trust for years to come? COMPANIES; REPORTS; LAWS, RULES & GUIDANCE; Company search. For example, there is no outline of an official claims process or claims response timeframe to be found. The website also does not provide important information about claims processing. Questions? EquiTrust Life Variable Account . Vice President of Sales and Marketing. 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 Inc; Equitrust Life Insurance Company Inc. Website. You only need to make one payment to activate a WealthPay Life policy from EquiTrust. I was hired just before the annual reporting with little to no training or guidance from management. Sapiens simple, intuitive, device-agnostic user engagement with flexible branding and integrations enhances EquiTrust Lifes partner experience. 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. EquiTrust Cons: Not a BBB accredited company. FBL currently underwrites, markets and distributes life insurance, annuities and mutual funds to individuals and small businesses. (816) 783-8600orFDRadmin@naic.org, For questions about filing fees or accounts receivable: Call Sales Support. EquiTrust will immediately credit your contract an extra 6% on any premiums paid during the first five contract years. Managers play favorites, have created a hostile environment where bullying their employees is acceptable. All are Brighthouse Financial affiliated companies. Insurer Ratings and Better Business Bureau Grade. Today, this company holds north of $17 billion in assets under management. Minimum Premium: $10,000 NQ/Q. 60% of employees would recommend working at EquiTrust Life Insurance Company to a friend and 83% have a positive outlook for the business. EquiTrust Life Insurance Company is a trusted provider of life insurance and annuity products with a strong track record of operating performance. Today, this company holds north of $17 billion in assets under management. EquiTrust Life Insurance Company 2023 Ratings, Founder of Huntley Wealth & Insurance Services. 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. Just as the world continues to change and grow, EquiTrust Life Insurance Company remains in motion. For more information visit https://sapiens.com or follow us on LinkedIn. To earn this prestigious title, the company must successfully ace a variety of screenings and aim for superior execution during the years specified. With so many great options on the table, it can be difficult for consumers to find the best policy out of the bunch. Its primary operating subsidiary, Farm Bureau Life Insurance Company, underwrites and markets a broad range of life insurance and annuities to individuals and businesses. It includes a death benefit, as well as a nursing home waiver. Two multi-asset, risk-controlled index options provide an extra level of diversification. 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. In addition, premiums paid into the policy at approval see a 12% bonus immediately. For financial reporting, their fiscal year ends on December 31st. However, for those who fit the bill, EquiTrust Life Insurance Company could be an excellent financial resource and tool. Comparison shopping should be easy. With that in mind, fixed index annuities may be considered the best of both worlds growth potential without risk. 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. Should you feel confident pursuing EquiTrust for your insurance needs? EquiTrust specializes in life insurance. property-casualty insurance companies for a management fee. EquiTrust has just one phoneline for customer service and all other inquiries. Financial Statement Filing & Step Through Guide, Raymond G. Farmer Award for Exceptional Leadership, System for Electronic Rates and Forms Filings, Market Regulation and Consumer Affairs (D), Financial Regulation Standards and Accreditation (F), Innovation, Cybersecurity, and Technology (H), Market Conduct Annual Statement Blanks (D), Risk-Based Capital Investment Risk and Evaluation (E), Purposes and Procedures Manual of the NAIC Investment Analysis Office, Capital Adequacy (E) Task Force (Risk-Based Capital), Statutory Accounting Principles (SAP) (E) Working Group, Updates to the Accounting Practices & Procedures (AP&P) Manual, Financial Internet Filing Online User's Guide, industry-financial-filing-individual-remittance-advice.pdf, industry-financial-filing-combined-remittance-advice.pdf, industry-financial-filing-group-remittance-advice.pdf, 2022Annual 2023Quarterly Financial Statement Filing Deadlines, Annual, Quarterly, and Risk-Based Capital Approved Software Vendors, Formulas for Life, Health & Annuity Guaranty Association Assessable Premium Exhibit Part 2, Purposes & Procedures Manual of the NAIC Investment Analysis Office, Guide to Compliance with State Audit Requirements, Retaliation: A Guide to State Retaliatory Taxes, Fees, Deposits and Other Requirements, Risk-Based Capital (RBC) Forecasting Products, Statutory Accounting Principles (SAP) Self-Study Program, States' Prescribed Differences from NAIC Statutory Accounting Principles (SAP), Assistance with Annual and Quarterly Statement Completion, If your company does not have an NAIC Company code (sometimes called "NAIC Number" or "cocode"), obtain one by completing the. In the event of a full surrender, applies to accumulation value and any . What this does, in effect, is give EquiTrust and its investment division the ability to begin growing capital immediately. 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. The WealthMax Bonus Life policy can potentially grow since it is tied to a stock market index. On average, employees at EquiTrust Life Insurance stay with the company for 3.6 years. These include the: With an index annuity, you have the opportunity to attain a nice return, based on an underlying market index (or more than one market index). The experience at EquiTrust varies depending on what department you work in. 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. Website at Agents.EquiTrust.com. LEARN MORE Alonzo Franklin Herndon Founder Born from a bright dream. 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. Full-Time. Working with an adviser may come with potential downsides such as payment of fees (which will Many pages could stand to be fleshed out quite a bit more, and a disturbing amount of pertinent information seems to be lacking entirely. Columbus, Ohio Area. Identify what your insurance needs are and how EquiTrust could meet them for you and your family. The carrier does have solid financial strength, and A.M. Best places them in the $1.25-$1.5 billion financial size category. EquiTrust is a smaller carrier in relation to competitors, yet still has more than $17 billion in assets under management. EquiTrust even matches their employees charitable donations and pays employees for a day of volunteering during the year. 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. Applicant ages generally range between 50-85, and a Return of Premium Rider is also available at no additional charge. This serves to assist in preventing insolvencies for which liability is imposed on insurers under state guaranty fund laws. Jason Fisher Last Updated: December 6, 2021, Certain links on this page will refer you to products we might recommend. The company offers fixed indexed, immediate and fixed annuities, as well as life insurance policies. Nothing on this website is a recommendation to buy or sell an annuity. The WalletHub rating is comprised of reviews from both WalletHub users and ratings on other reputable websites. Subject to IRS daily maximum. reduce returns). Sales Week: EquiTrust ads bring business to your doorstep or inbox. You will be able to make partial withdrawals without facing penalty fees after the policy has been in place for a year. of the law. In October 2011, it acquired the life insurance company EquiTrust from FBL Financial Group. No separate claims reporting hotline. Explore our open opportunities for your chance to join our team. * Financial Analysis: preparation of monthly executive financial report, annual financial report for state . Brighthouse Financial, Inc. Brighthouse Financial and its design are registered trademarks of Brighthouse Financial, Inc. and/or its affiliates. Access technology tools and resources for U.S. insurance regulators. This creates no additional cost to you, and helps provide us an income so we can continue to bring valuable information to your fingertips. 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. Revenue: $100 - $500 million See Exact Annual Revenue: In 2015, Magic Johnson Enterprises (MJE) became a controlling shareholder of the insurance provider. Independent insurance agents can help make customer service easier for you by handling claims and other concerns. Sapiens end-to-end solution empowers EquiTrusts strategic initiative to increase sales with a more intuitive, engaging experience. EquiTrust Life Insurance Company . 54% of EquiTrust Life Insurance employees are women, while 46% are men. 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. As part of the ongoing transition, certain Brighthouse Financial features are serviced by MetLife. EquiTrust Cares is an excellent example of how this company values giving back and contributing to philanthropic organizations through paid time off for volunteering. As always, conduct your own research on a variety of carriers before signing any paperwork. Transform your core with next generation, digital-led solutions designed to deliver enhanced, frictionless experiences, and increase efficiency, revenue and success. You can selectively provide your consent below to allow such third party embeds. THE ATLANTA LIFE INSURANCE COMPANY At Atlanta Life, we bring 100 years of experience to every customer we serve. EquiTrust Life Insurance Company was purchased by Guggenheim Partners in 2011. 2020 Annual Report to Stockholders. platform based on information gathered from users through our online questionnaire. Shopping for a company? With a trusted expert in your corner, finding the perfect combo of coverage and cost is a breeze. In June of 2015, Magic Johnson Enterprises (MJE) became controlling shareholder of EquiTrust. Our insurance industry partnerships dont influence our content. at 866-598-3694 or visit. An annuity is a fixed amount of money paid to you from an insurance firm. Sapiens DigitalSuite offers a dynamic, digital engagement and enablement platform for insurers to provide a unified, omni-channel experience. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. 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. Access forms and tools to file expense reports, review grant and zone scholarship balances, and travel guidelines. Our principal offices are at 5400 University Avenue, West Des Moines, Iowa 50266. The Premium Equitrust Life Insurance Company Report contains critical information including: Revenue from previous years (2010 to present) . The insurance company also does not offer online claims reporting through their website, which puts them far behind many other modern carriers. Disclaimer: www.InsuranceBlogByChris.com strives to present the most up-to-date and comprehensive information on saving money on insurance possible. Discover our framework to drive change and promote accountability in our workplace. This information is designed to help you with your decision-making, and it is not intended to provide advice. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. Strong financial stability. It was incorporated under the laws of Delaware on January 12, 1970 and commenced business on January 1, 1973. Written by Its A+ rating through the BBB is impressive, though. A vast majority (over 95%) of these assets are considered investment grade, though . For more information visit https://www.EquiTrust.com. 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. 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. Transmit your filing to the NAIC via the Internet. These include: While all of EquiTrusts policies can help you increase your wealth, each is unique. . 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. PA 2700-FM-AQ0021 2007 . investor.relations@brighthousefinancial.com.
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equitrust life insurance company annual report