Fixed index annuity review and rates

MarketPower Bonus Index

The Market Power Bonus Index is a Single Premium Deferred Annuity Contract with fixed and indexed interest accounts is issued by EquiTrust Life Insurance Company. This contract is intended for retirement funding or other long-term accumulation needs. Substantial contract-imposed penalties may apply to full and partial withdrawals in the first 14 years. 
Available in states: AL, AK, AZ, AR, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
3% Fixed
1-Year Barclays Focus 50 PTP Participation Rate
Point to Point
Annual
115% Participation
2-Year Barclays Focus 50 PTP Participation Rate
Point to Point
Biennial
150% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
130% Participation
1-Year S&P 500 PTP Monthly Average Participation Rate
Point to Point
Annual
Monthly average
45% Participation
1-Year S&P 500 PTP Monthly Average Cap
Point to Point
Annual
Monthly average
6.5% Cap
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
2.25% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
6% Cap
2-Year S&P 500 PTP Monthly Average Cap
Point to Point
Biennial
Monthly average
14% Cap

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14
Penalty 20% 20% 19% 19% 18% 17% 16% 14% 12% 10% 8% 6% 4% 2%

Riders

Name Inbuilt Fee
Market Power Income Rider No 1.25% annually (1.25% max)
EquiTrust Life Insurance Company
Founded: 1996
A.M. Best: B++
S&P: B++
Carrier details
Free withdrawal
1st year: 0%
2nd+ year: 10%
Premium bonus
10%
Surrender schedule
14 years
Return of premium
Market value adjustment
Minimum contribution
$10,000
Types of funds
Non-Qualified, IRA, Spousal IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, SIMPLE IRA, 1035 Exchange, Stretch IRA, and TSP