Fixed index annuity review and rates

MarketSeven Index

MarketSeven Index is a Flexible Premium Fixed Index Deferred Annuity with an income benefit rider option. The product contains a Fixed-Rate Account and a variety of Index Accounts, three of which feature custom, risk-controlled indices: Barclays Focus50 Index and S&P MARC 5% Excess Return Index. 
Available in states: AL, AK, AZ, AR, CA, 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
4.15% Fixed
2-Year Barclays Focus 50 PTP Participation Rate
Point to Point
Biennial
200% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
175% Participation
1-Year Barclays Focus 50 PTP Participation Rate
Point to Point
Annual
150% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
8% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
37% Participation
1-Year S&P 500 PTP Monthly Average Cap
Point to Point
Annual
Monthly average
9% Cap
1-Year S&P 500 PTP Monthly Average Participation Rate
Point to Point
Annual
Monthly average
65% Participation
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
2.85% Cap
2-Year S&P 500 PTP Monthly Average Cap
Point to Point
Biennial
Monthly average
20% Cap

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 9% 8% 7% 7% 6% 5% 4%

Riders

Name Inbuilt Fee
Market Seven 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%
Surrender schedule
7 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, Inherited IRA, and TSP