The following life insurance review covers EquiTrust Life Insurance Company, its history, plans, and features. EquiTrust is one of many life insurance companies available. If you have any questions about which company is the best life insurance company for you-based on your unique health, lifestyle and need, please don’t hesitate to give us a call today.
Review of EquiTrust Life Insurance Company
If you are one to imagine about your future, your children and loved ones, quite often and plan for long-term financial security, you’ll need an insurance company that you can trust. In order to strike a balance between today’s demands of finances and additionally, future goals, it requires careful planning, discipline and most importantly, a committed financial partner. Thus, EquiTrust Life Insurance Company® can help turn your dreams into reality.
Disclaimer: we are not EquiTrust Life Insurance Company (“EquiTrust”) nor do we represent EquiTrust.
About EquiTrust Life Insurance Company
EquiTrust Life Insurance Company is dedicated to providing you with new financial ideas that will help you meet your specific needs. They do this by maintaining their principles and integrity evident in a trusted insurance company.
Management of EquiTrust Life is provided by Guggenheim Partners, who are a global investment and advisory firm.
As you invest in your future and plan for long-term financial protection, EquiTrust service is prompt, fair and reliable. Offering products and services that clearly meet your dynamic financial needs and objectives.
Their sole purpose is to serve the policyholder and protects their future financial status.
EquiTrust Life Ratings and Products
A.M. Best Rating
According to A.M. Best, EquiTrust Life is rated B++ (Good) as of Aug 2012 based on its current ability to meet its obligations to policyholders.
EquiTrust Life BBB review attributes of A+ (Stable), is due to the following factors:
- A strong financial risk profile and
- Strong business profile
Here, a letter grade scale, ranging from AAA (highest) to CCC, (lowest) is used. In addition, these ratings (from AA to B) may be modified by a plus or minus sign to identify relative standing within those specified grades.
An insurer rated ‘BBB’ or higher is regarded as having greater financial security characteristics, outweighing any vulnerability, and is more likely to have the ability to meet financial commitments. Therefore ideal for the policyholder.
EquiTrust Life has a 24/7 operating hotline that you can call and inquire further on any issue arising. This provides ease of access and use by the policyholders. They include:
EquiTrust Life Insurance Policies
The EquiTrust portfolio boasts two product lines Fixed Annuities and Life Insurance
Annuities are investment options designed to grow funds and then later provide a stream of payments to the investor. In a financial plan, they are commonly used as a way to secure a steady retirement cash flow.
A fixed annuity is issued in two distinct phases: the accumulation phase and a payout phase. In EquiTrust, your money earns income-tax-deferred interest at their set rates or rates dependent on a portion of a stock market index’s performance.
If you decide to “annuitize” you receive a flow of income for either a specified period or for life.
Fixed Annuities offered by EquiTrust are of four types: Index, Multi-Year, Traditional Fixed-Rate and Immediate Annuities
Index Annuities: Here, your interest is factored by a portion of a stock index’s growth.
Multi-Year Guarantee Annuity is locked in a competitive rate for a duration of 3, 5, 6, 8 or 10 years.
Traditional Fixed-Rate Annuity: Here, there are duration choices with annual resetting interest.
Immediate Annuity: Purchased with a single payment, and provides an income stream immediately. This income stream, however, is determined by the initial principle amount, the length of time the payout continues, and the number of lives covered by the annuity.
Life Insurance Policies offered by EquiTrust
In the event of death, providing financial security for your loved ones is of utmost importance. Thus, a whole life insurance policy leverages a portion of your financial resources for the sole purposes of providing a legacy to your beneficiaries, while still maintaining control of your assets.
A life Insurance policy is designed to offer you peace of mind by providing a guaranteed death benefit, flexibility to convert to permanent and affordable premiums. Your premium will either earn a declared rate of return or index-linked returns.
The different types of life insurance offered by EquiTrust enables one to choose among three simple “Wealth Transfer” life insurance policies. These insurance policies all feature:
- Simplified issue policies requiring no medical tests or exams
- Tax-deferred cash accumulation
- Tax free death benefits
WealthSure Life™: A Single Premium Declared-Rate Life Insurance providing interest-sensitive growth of policy values.
WealthMax Bonus Life®. A single Premium Index Life Insurance that provides you earnings based on stock market indexes and additionally, a 12% bonus is added to all premiums
WealthPay Life™, which is a Fixed Premium Index Life Insurance. The Premiums are paid by a Single Premium Immediate Annuity Policy. The earnings are stock market index based.
As with all life insurance companies, the main drawback is EquiTrust is but one of many companies in the marketplace. If you truly want to know which company is best for you then you have to do one of the following: either engage in a search yourself or call an agency, such as TermLife2Go, that works with many different life insurance companies.
EquiTrust Review Conclusion
Your decision to purchase EquiTrust Life products is determined by your qualification status. If you qualify then purchasing one of the insurance products offered by EquiTrust is an excellent opportunity bearing in mind the advantages offered to their policyholders.
Having said that, EquiTrust Life is one of many options. If you are curious what other options are available give the team at TermLife2Go a call today for a free consultation.