EquiTrust Life Insurance Company
4.8
based on complex data
Annuity Educator Rating
Annuity review

MarketTen Bonus Index

The MarketTen Bonus Index annuity really shines in its ability to provide reliable income in retirement. It's an excellent choice for those wanting security and peace of mind for their future. The bonus feature adds a nice touch to your earning potential.

Reviewing the brochure, it's clear the product is designed with the customer in mind - adding safety for the invested money, and the option to start receiving income whenever you choose. A true must-have for a worry-free, enjoyable retirement.

MarketTen Bonus Index-brochure MarketTen Bonus Index-brochure

MarketTen Bonus Index

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About Product

Type
Fixed Index
Purpose
Lifetime Income
Premium Bonus
6%
Term
10 Years
Surrender schedule
10%
10%
10%
10%
8.5%
7%
5.5%
4%
3%
1.5%
Fee withdrawal:
10%
Flexible premium
Product Life
Market Value Adjustment
Yes
Return Of Premium
Yes
Minimum Contribution
Qualified: $5,000
Non-Qualified: $10,000
Maximum Contribution
$2,000,000
Max Age Qualified
80
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
06/28/2007
MarketTen Bonus Index is a Flexible Premium Fixed Indexed Deferred Annuity with a Premium Bonus on premiums paid in the first five years. The product contains a Fixed Rate Account that earns a traditional interest rate and offers two Index Accounts, with a 10-Year Surrender Charge Period. As an additional guarantee, the cash surrender value will never be less than premiums, less withdrawals. This rider is automatically included on all contracts at no additional charge, subject to state availability. 
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
3.25% Fixed
1-Year S&P 500 PTP Monthly Average Cap
Point to Point
Annual
Monthly average
7% 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
1.75% 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
17% Cap
1-Year Barclays Focus50 PTP Participation Rate
Point to Point
Annual
125% Participation
2-Year Barclays Focus50 PTP Participation Rate
Point to Point
Biennial
170% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
140% Participation
1-Year S&P 500 Dynamic Intraday TCA PTP Participation Rate
Point to Point
Annual
50% Participation
1-Year S&P 500 Performance Trigger
Performance Triggered
Annual
5% Performance triggered

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10
Penalty 10% 10% 10% 10% 9% 7% 6% 4% 3% 2%

Hypothetical Projection

Comparison against S&P 500 using current rates
indexed chart
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Riders

Name Inbuilt Fee
MarketTen Bonus Income Rider No 1.00% annually (1.00% max)

Waivers

Nursing Home

Available 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. 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
Miniumum: $10 000 NQ, $5 000 Q;
Contract maximum without prior EquiTrust approval: $2 000 000
Additional Premium
Subsequent minimum: $2 000
Subsequent annual maximum after year 1: $250 000
Subsequent Premiums automatically added to the 1-Year Interest Account at the time of receipt. On each contract anniversary, automatically reallocated between accounts according to the most recent allocation instructions. Subsequent Premium can be contributed multiple times in a year.

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

Withdrawal Availability May begin anytime after 1st contract year and age 50Systematic Withdrawal Systematic withdrawal is available on a monthly, quarterly, semiannual, or annual basis. Systematic Withdrawals are automatically deposited in your bank account. 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. 

Company Founded: 1996
Good Rated Company
EquiTrust Life Insurance Company
Company Ratings
5
  • A.M. Best B++
  • Fitch A-
  • S&P A-
  • Comdex 51
Assets: $26,366,797,355
Arizona

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