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Index Annuity Rate and Commission Change, Effective April 1

EquiTrust Life Insurance Company |E-Connect

 

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Index Annuity Rate and Commission Change

Effective April 1, 2019

 

 

Rate Reduction

MarketTen Bonus, MarketValue and MarketSeven rates will be reduced effective April 1, impacting 1-Year Interest Accounts and several index strategies. Income Rider rates are not impacted.

 

Commission Reduction

MarketPower Bonus Index

Option A – Upfront: reduced 50 basis points

Option B – Upfront + Trail: reduced 25 basis points on upfront amount

Option C – Trail: no change

Commission reduction does not apply in AK, CT, IL, MN, MT, NJ, NV, OH, OK, OR, PA, TX, UT, VT and WA.

 

Transition Rules

To receive the current rates and commission, applications must be received by mail, fax or E-App by Friday, March 29. Faxed applications must be received at EquiTrust by 5:00 PM (Central) on March 29; if fax is confirmed, do not resend; allow a couple days processing time.

 

Rates If Income Rider Not Elected – Effective April 1, 2019

MarketTen Bonus Index

1-Year Interest

1.75% (formerly 2.00%)

 

1-Year Pt-to-Pt Cap

4.00% (formerly 5.00%)

1-Year Monthly Avg Cap

5.00% (formerly 6.00%)

 

1-Year Monthly Avg Part

55.00% (formerly 60.00%)

1-Year Monthly Cap

1.30% (no change)

 

2-Year Monthly Avg Cap

8.00% (no change)

MarketValue Index

 

1-Year Interest

2.75% (no change)

1-Year Pt-to-Pt Cap

6.00% (no change)

 

1-Year Pt-to-Pt Participation

50.00% (formerly 55.00%)

1-Year Monthly Avg Cap

7.00% (no change)

 

1-Year Monthly Avg Part

85.00% (formerly 100.00%)

1-Year Monthly Cap

1.90% (no change)

 

2-Year Monthly Avg Cap

20.00% (no change)

1-Year Pt-to-Pt Part (Dynamo)

80.00% (no change)

 

2-Year Pt-to-Pt Part (Dynamo)

100.00% (no change)

MarketSeven Index

 

1-Year Interest

2.75% (formerly 3.00%)

1-Year Pt-to-Pt Cap

5.50% (formerly 6.00%)

 

1-Year Pt-to-Pt Participation

43.00% (formerly 45.00%)

1-Year Monthly Avg Cap

7.00% (no change)

 

1-Year Monthly Avg Part

70.00% (no change)

1-Year Monthly Cap

1.75% (no change)

 

2-Year Monthly Avg Cap

15.00% (no change)

1-Year Pt-to-Pt Part (Dynamo)

90.00% (no change)

 

2-Year Pt-to-Pt Part (Dynamo)

100.00% (no change)

Click here to see the All-Product Summary dated April 1, for all EquiTrust Annuity Products.

 

Commission Schedule Available Online

Subject to the updated Agent Contract now in effect, changes to the Commission Schedule may be communicated by electronic notice. Your revised Commission Schedule will be available beginning April 1, at Agents.EquiTrust.com; Agent Center. Login is required.

 

Have You Signed Your Updated Agent Contract?

As communicated previously, an updated EquiTrust Agent Contract must be signed to continue doing business with EquiTrust. Please do so by March 29, 2019 to facilitate normal processing of future new business, and assure uninterrupted online and mobile-app access to your existing business. If you have already submitted your updated Agent Contract, thank you.

 

If you submitted a life or annuity case within the last two years:

• Submit Agent Contract only

• If contracted for both annuity and life insurance, one signed contract for both lines

 

If more than two years since your last life or annuity case:

• Submit Agent Contract and Appointment Application

• If contracted for both annuity and life products, send two sets of documents

 

Print agent-contracting documents from Agents.EquiTrust.com, click here.

 

Mail:

EquiTrust Life Insurance Company

Attn: Agency Services

PO Box 14500

Des Moines, IA 50306-3500

Or FAX:

515-226-5102


EquiTrust does not offer investment advice to any individual or agent and this material should not be construed as investment advice.
FOR AGENT USE ONLY. NOT FOR USE WITH THE PUBLIC.
 
 

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