Bridge
A leading supplier of annuity and life insurance products in the US, the EquiTrust Life Insurance Company was established in 1996. Nearing three decades of experience in the retirement sector, the company has demonstrated exceptional developments over the years thanks to its focus on delivering client-friendly annuity and life insurance solutions. Striving to consistently improve the services it offers to customers, EquiTrust has made the “Ward’s 50” best life and health insurance companies for a number of consecutive years.
Bridge
Ratings:
- A.M. Best B++
- Fitch A-
- S&P A-
- Comdex 51
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.5%
Fixed
|
| 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
|
45%
Participation
|
| 1-Year S&P 500 PTP Monthly Average Participation Rate |
Point to Point
Annual
Monthly average
|
80%
Participation
|
| 1-Year Barclays Focus 50 PTP Participation Rate |
Point to Point
Annual
|
145%
Participation
|
| 1-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Annual
|
170%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Long-Term Care Rider | Yes | 1.00% annually |
Waivers
Nursing Home
Included for all applicant ages at no charge. After the first contract year, access up to 100% of the Accumulation Value in the event of nursing home confinement of owner for 90 days.
Terminal Illness
Included for all applicant ages at no charge. After the first contract year, owner may access up to 75% of the Accumulation Value in the event of the owner’s terminal illness.
Annuitization
On the Income Date, the Accumulation Value is applied to the payment option elected. The Income Date is the first contract anniversary after the Annuitant’s 100th birthday. By current company practice, the Accumulation Value is available for annuitization after the fifth year if a minimum payout of five years or life is elected.
Premium Notes
55-80, all Owners/Annuitants. Annuitant must be the Owner unless trust-owned. Joint ownership not allowed.
Initial Premium
Minimum: $50,000;
Long-term care coverage limit Year 1: $1,000,000
Subsequent minimum: $2,000
Subsequent annual maximum after year 1: $250 000
Withdrawal Provisions
By current company practice, systematic withdrawals of interest are allowed in the first year from the 1-Year Interest Account without charges.
After the first contract year, up to 10% of the Accumulation Value on the previous contract anniversary may be withdrawn each contract year without Surrender Charge or MVA, either systematically or as a single withdrawal. Single withdrawals can be requested at any time, but must be at least $250 per request. Systematic withdrawals are available monthly, quarterly, semiannually or annually, and must be taken by EFT.
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