MarketSeven Index

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.

EquiTrust Life Insurance Company
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MarketSeven Index-brochure MarketSeven Index-brochure

MarketSeven Index

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Ratings:

  • A.M. Best B++
  • Fitch A-
  • S&P A-
  • Comdex 51

About Product

Type
Fixed Index
Purpose
Lifetime Income
Term
7 Years
Surrender schedule
9%8%7%6.5%5.5%4.5%3.5%
Fee withdrawal:
10%
Flexible premium
Product Life
Market Value Adjustment
Yes
Return Of Premium
No x
Minimum Contribution
$10,000
Maximum Contribution
$2,000,000
Max Age Qualified
85
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
Launch Date
01/15/2019
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
4.5% 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 Cap
Point to Point
Annual
Monthly average
11% Cap
1-Year S&P 500 PTP Monthly Average Participation Rate
Point to Point
Annual
Monthly average
80% Participation
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
2.15% Cap
2-Year S&P 500 PTP Monthly Average Cap
Point to Point
Biennial
Monthly average
18% Cap
2-Year Barclays Focus 50 PTP Participation Rate
Point to Point
Biennial
215% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
190% Participation
1-Year Barclays Focus 50 PTP Participation Rate
Point to Point
Annual
170% Participation
1-Year S&P 500 Dynamic Intraday TCA PTP Participation Rate
Point to Point
Annual
70% Participation
1-Year S&P 500 Performance Trigger
Performance Triggered
Annual
7% Performance triggered

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)

Waivers

Nursing Home

Available for applicant ages 0-80 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. The nursing home waiver does not include home health care.

Terminal Illness

Available for all applicant ages at no charge. Access up to 75% of the Accumulation Value in the event of the owner’s terminal illness.

Premium Notes

Initial Premium
Minimum: $10,000
After your initial premium payment, you may add subsequent premiums at any time. You may allocate your premiums among the crediting accounts.
Additional Premium
Subsequent Premium can be contributed multiple times in a year.
Subsequent annual maximum premium after year 1: $250,000.

Notes:
SIMPLE IRA Transfers only
If the IRA owner dies on or after 1/1/20, the new SECURE Act rules apply.
Applicable beneficiaries now fall under two categories: Eligible and Ineligible Designated Beneficiaries.
Stretch IRA is available only to Eligible Designated Beneficiaries.
Inherited IRA is available to Ineligible Designated Beneficiaries – withdrawal or taxation of funds by 12/31 of the 10th year following the IRA owner’s death now applies to Ineligible Designated Beneficiaries.
TSP funds have to be transferred or rolled over into an IRA.

Withdrawal Provisions

Systematic 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 EFT.

Free Withdrawals
By current company practices, systematic withdrawals of interest are allowed in the first year from the Fixed Rate Account without Surrender Charge or MVA. Interest withdrawals must be taken via electronic funds transfer (EFT). 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 EFT.

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