Frequently Asked Questions

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EquiTrust Life Insurance Company Rating

EquiTrust Life Insurance Company is rated B++ (Good) by A.M. Best Company and BBB+ (Good) by Standard & Poor's for its relative financial strength and ability to meet its obligations to policyholders.

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Yes, on non-qualified, inforce annuities only.

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Effective 4/21/2010, EquiTrust will no longer accept the following types of qualified money*:

• 401(k)
• 403(b)
• 457
• 501(c)(3)
• Defined Benefit Plan
• Pension Plans
• Profit Sharing Plan
• Keogh / HR-10
• Plan money not listed above as an accepted class

*Money coming out of one of these plans and into an IRA (rollover, transfer, etc.) will be accepted by EquiTrust if such transactions are IRS approved.

EquiTrust will continue to accept the following classes of tax-qualified money:

• Traditional IRA
• SEP IRA
• Roth IRA
• SIMPLE IRA - Transfers only; no new or ongoing contributions

Confidence Income Annuity is available for non-qualified and IRA business only.

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Grantor Trusts: An application for a trust-owned annuity will, generally, be viewed as unsuitable when the Grantor of the Trust and the Annuitant are not the same person. For all trust-owned annuity applications, the Trust Certification Form should be submitted with the application and other required new business forms. Suitability will be reviewed as with any other application.

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Yes, year end value letters are mailed each January to owners of qualified plans. Upon the anniversary of the owner's 72nd birthday, an additional reminder letter along with a RMD withdrawal form is mailed to the owner.

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Yes, letters are mailed 45 days prior to the end of the guarantee period to remind them they have a 30-day window to decide what to do with the Accumulation Value of their contract. The 30-day window begins PRIOR to their Contract anniversary date.

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Yes, to designate the death payout, the owner will need to fill out the Beneficiary Designation with Restricted Payout Form - Non-Qualified (ET-2533NQ) or the Beneficiary Designation with Restricted Payout Form - Qualified (ET-2533Q).

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The Market Value Adjustment will only apply if the withdrawal amount exceeds the free withdrawal provision or the contract is surrendered during the surrender charge period. The MVA does NOT apply upon death, settlement options, free partial withdrawals, income rider withdrawals or after the surrender charge period is over.

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Yes, if the spouse is listed as the sole primary beneficiary, they may choose to continue the policy.

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Yes, if they are spouses, they may be joint owners. It is highly recommended that the beneficiary on a jointly owned contract be listed as "surviving spouse". The distribution rules are applied upon the death of the first owner. Therefore, the entire interest in the contract would be distributed to the primary beneficiary(s) of the contract rather than the Joint Owner.

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Yes.

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Yes, our Nursing Home Waiver Rider is available at no additional cost on all deferred annuities if the owner is age 80 or younger at issue. The full Accumulation Value, with no surrender charges, is available if confinement begins in contract year 2, and exceeds 90 days. See full waiver details on the Nursing Home Waiver Rider Specimen, available on the "Forms" link (Forms 430-NHW).

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New Business -

Inforce -

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• Annuity New Business Paperwork
• 1035 Exchange or Transfers Out of EquiTrust
• Agent Replacement Questions (Section J of App)
• Amendments
• Beneficiary Changes
• Death Claims
• Delivery Receipts
• Full Surrenders
• Owner Changes
• Partial Withdrawals or RMDs
• Product Disclosures
• Reallocation/ Rebalancing Changes
• Service Request Form
• Systematic Withdrawals
• Trustee Certification Forms & Trust Documents

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Yes. A copy of the client's government-issued ID must be submitted with each faxed application. Acceptable forms of ID include:

• Driver License
• State-issued ID
• Military ID
• Passport
• Resident Alien ID

The ID requirement applies only to faxed applications, but is subject to change.

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A copy of the client's government-issued ID must be submitted with each faxed application. This requirement only applies to faxed applications, but is subject to change.

• The copy of the client's ID must be clear and legible; illegible copies are not accepted.
• Keep original app and documents for your records; do not also submit originals by mail.
• If fax is confirmed, do no resend; allow a couple days processing time.
• Other non-fax delivery processes remain in effect: E-Apps and mailed apps. (Emailed apps are not accepted)

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Certainty Select

Since Certainty Select is a single premium annuity; we will wait to issue until all premiums have been received. To determine the effective date, we use a weighted average calculation. This calculation is the sum of each premium multiplied by the date received, divided by the total premium. At the end of the guarantee period, the client will have effectively been credited interest for each day that we had all payments.

Index Annuities

The client may choose 1 of these 2 options for index annuities:

• Issue the policy when the first premium arrives. When the additional premiums arrive, they will be added to the 1-Year Interest Account.
• Client submits the Authorization to Hold Issue Form (ET-2504) and the effective date will be the date the last premium is received.

Confidence Income

Since the Confidence Income is a single premium annuity, we will wait to issue until all premiums have been received. The effective date is the date the last premium is received.

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Delivery Receipts are required to be returned for the following:

• All Confidence Income Annuity policies
• All policies in these states: CA, LA, MN, NH, PA, SD, WV

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Payment amounts can be affected by:

• Annuitant's age (Life options only)
• Annuitant's gender (Life options only)
• Fixed Period election, if applicable
• State (premium taxes apply in resident states of CA, ME, NV, SD, and WY)
• Qualified type (payments may vary between IRA and non-IRA qualified plans)
• Payment start date
• Payment frequency

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An Annuitant change is not allowed after issue, unless the Annuitant dies in which case a new Annuitant must be chosen.

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Name, percentage, primary or contingent, relationship, social security number/TIN, date of birth, and address will be needed for each beneficiary on the application.

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No.

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AK, AZ, CA, ID, LA, NV, NM, TX, WA, WI

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If we are aware of the existence of a spouse on the contract written in these states, we must have a spouse signature for any financial transaction, e.g., distributions and in-force financial activity. Spouse's signature is not needed for the New Business process.

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No. A notary public must never change, correct, or amend a notarial certificate at a later date. Such alterations can only be made at the time of the execution of the notarization when the principal signer is present. If a notarial certificate requires corrections, a new document with a new notarial certificate will be required for the performance of another notarial act so that the certificate can reflect the correct facts of the notarization. Please consult with an attorney for legal advice.

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Yes, an individual applicant may simultaneously purchase up to four contracts/policies without EquiTrust approval.   

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No.

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EquiTrust has always been committed to providing quality products through appropriate sales. Our current needs analysis program has been an industry leader in seeking to match products sold with client needs. We continually endeavor to improve and strengthen these efforts.

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Unfortunately  the business will not be accepted if questions are not answered.

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Yes - a completed form is required with each application.

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Please refer to the Annuity Suitability Agent User Guide, page 3, Internal Suitability Review Guidelines for this information.

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A decline letter will be sent to the client via USPS mail.

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No - in many cases we will have already been in touch with the agent and the client to discuss any questions or concerns and only after careful review would a decline take place.

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EquiTrust will not accept an application if you are replacing an annuity product with an effective date of less than three years.

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No, this is an optional rider that must be elected at issue of the Contract. It cannot be added to the Contract once it is in-force. In order to qualify for the Rider, the Owner and Annuitant must be the same person and Joint Owners must be spouses.

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Income Withdrawals are guaranteed amounts that may be withdrawn from the Contract for the life of the Owner(s), even if the Accumulation Value is depleted to zero. Income Withdrawals allow for a guaranteed stream of income for life without annuitizing. While taking Income Withdrawals, the Owner continues to maintain all of the benefits of the underlying deferred annuity. Income Withdrawals are not subject to Surrender Charge or Market Value Adjustment.

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There is a charge for the Rider, applied as a percentage to the Accumulation Value on each Contract anniversary, after Interest and Index Credits are applied. The charge (as a percentage is fixed) for the life of the Rider and will not change. The charge is deducted proportionately from each crediting account. The charge is not deducted from the Benefit Base or the Minimum Guaranteed Contract value. In the event that the Rider is terminated and the Contract continues, the charge will be deducted proportionately to the amount of time elapsed between Contract anniversary and Rider termination.

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Income Withdrawals can start anytime after the first contract year, as long as the Owner (and any Joint Owner) is at least age 50.

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The initial Income Withdrawal Amount is equal to the Benefit Base, multiplied by the Income Withdrawal Percentage. Each of these terms is defined below.

Benefit Base – This is a calculated value (not available for surrender, death on annuitization) that grows separately from the Contract values and is used solely for determining the Income Withdrawal Amount. It is equal to Premiums, plus any applicable bonus, less withdrawals, increased each contract anniversary by the rollup percentage and grows for a number of years. The duration and percentage of the rollup vary by product (check Agent Guide for details).
*The MarketValue Index offers a stacked rollup design where the index credited rates are added to the rollup percentage as well.

Income Withdrawal Percentage – A preset percentage that is based on the Owner’s age at the time they elect to begin Income Withdrawals.
Single Owner: Can elect to take Income Withdrawals based on either a single life or joint life (if spouse is sole primary beneficiary)
Joint Owners: Can elect to take Income Withdrawals based on a single or joint life
1. Clients select Joint Life- calculation is based on the younger of the two Owners
2. Clients select Single Life –
a. Choose Primary if they want the income withdrawal based on the life of the Primary Owner (OWN)
b. Choose Secondary if they want the income withdrawal based on the life of the Secondary Owner (SOW)

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Income Withdrawals may be taken monthly, quarterly, semi-annually or annually. Any mode other than annual must be taken EFT. Income Withdrawals will continue for the life of the Owner(s), even if the Accumulation Value is depleted.

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Yes, once Income Withdrawals begin, the annual penalty-free withdrawal amount is the greater of 10% of the Accumulation Value, or the Income Withdrawal Amount.

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Yes, after Income Withdrawals begin, the Owner can withdraw more than the Income Withdrawal Amount. Any amount withdrawn over the Income Withdrawal Amount is considered an Excess Withdrawal. Excess Withdrawals may be subject to Surrender Charges and Market Value Adjustment, if they exceed the free partial provision of the Contract. Excess Withdrawals reduce the Benefit Base and future Income Withdrawal Amounts proportionately to the decrease in the Accumulation Value. Excess Withdrawals are not allowed if the Accumulation Value is zero. Required Minimum Distributions are not considered Excess Withdrawals.

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At the time Income Withdrawals begin, the Benefit Base is compared to the Accumulation Value. If the Accumulation Value is higher, the Benefit Base is set equal to the Accumulation value and this is the amount used to determine the initial Income Withdrawal Amount.

On each Contract anniversary after Income Withdrawals begin, the Benefit Base is compared to the Accumulation Value. If the Accumulation Value is higher, the Benefit Base is set equal to the Accumulation Value. Subsequent Income Withdrawals can increase if at any time the Benefit Base becomes higher than the original Benefit Base at the time Income Withdrawals began.

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Income Withdrawal Amounts can decrease from year to year if Excess Withdrawals are taken. Excess Withdrawals reduce the amount of future Income Withdrawals proportionately to the decrease in the Accumulation Value.

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Yes, the Owner(s) may elect to stop and restart Income Withdrawals. While Income Withdrawals are stopped, partial withdrawals in excess of the Income Withdrawal Amount will be considered Excess Withdrawals and will reduce future Income Withdrawal Amounts, in the event that the Owner(s) decides to restart Income Withdrawals. If Income Withdrawals are restarted, the Income Withdrawal Amount will be equal to the greater of the prior Income Withdrawal Amount adjusted for Excess Withdrawals, or the current Benefit Base multiplied by the original Income Withdrawal Percentage.

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Additional Premiums, plus any applicable bonuses, applied before Income Withdrawals begin are added to the Benefit Base. Additional Premiums are not allowed after Income Withdrawals begin, even if Income Withdrawals are subsequently stopped.

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On the contract Maturity Date, if the Owner(s) elects a Life Only payout option, the annual annuitization payment will never be less than the annual Income Withdrawal Amount. If any other payout option is elected, the annuitization payment will be equal to that available under the Contract.

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Upon death of the first Owner, the Rider terminates unless the surviving spouse elects Spousal Continuation, and is the sole beneficiary or the Joint Owner.

If Income Withdrawals have not started, the surviving spouse can start Income Withdrawals as early as the third contract year, as long as they are age 50. The Income Withdrawal Amount will be based on the current Benefit Base and the Single Life Income Withdrawal Percentage using the spouse's attained age.

If Income Withdrawals have already started and the surviving spouse is less than age 50, the Rider will automatically terminate and Income Withdrawals will cease. If Income Withdrawals have already started and were based on joint owners, they will continue at the same amount until the death of the surviving spouse.

If Income Withdrawals have already started and were based on single owners, the Income Withdrawal Amount will be recalculated as the current Benefit Base multiplied by the Single Life Income Withdrawal Percentage using the spouse's attained age.

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Yes, anytime after the first contract year, the Owner may terminate the Rider. The Rider automatically terminates in the following situations:

• Death of first contract Owner, unless spousal continuation is elected
• Full Surrender
• Annuitizations
• Contract is Stretched
• Excess Withdrawals that reduce the Accumulation Value to zero
• Owner or Annuitant change, with some exceptions
• If owner is non-natural and ownership is changed to another non-natural owner
• If owner is non-natural and the owner is changed to the annuitant
• If owner is the annuitant and ownership is changed to a non-natural owner

Once the Rider is terminated it cannot be restarted.

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Yes, refer to the Types of Withdrawals below:

Partial Withdrawal/RMD taken prior to Income Period

• Reduction to the Accumulation Value is the dollar amount of the withdrawal
• Reduction to the Benefit Base is in proportion to the reduction in Accumulation Value
• Reduction to the future Income Withdrawal amounts is not applicable

Income Withdrawal

• Reduction to the Accumulation Value is the dollar amount of the withdrawal
• Reduction to the Benefit Base is the dollar amount of the withdrawal
• Reduction to the future Income Withdrawal amounts is not applicable

Excess Withdrawal

• Reduction to the Accumulation Value is the dollar amount of the withdrawal
• Reduction to the Benefit Base is in proportion to the reduction in Accumulation Value
• Reduction to the future Income Withdrawal amounts is in proportion to the reduction in Accumulation Value

RMD Withdrawal in Income Period

• Reduction to the Accumulation Value is the Dollar amount of the withdrawal
• Reduction to the Benefit Base is the Dollar amount of the withdrawal
• Reduction to the future Income Withdrawal amounts is not applicable

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In general, taxation of Income Withdrawals is similar to taxation of other partial withdrawals from the Contract. You should consult your tax advisor for specific tax advice. Income Withdrawals prior to age 59-1/2 may be subject to early withdrawal penalty. In states that recognize Civil Unions, the intention is to provide the same benefits as provided to spouses, however there may be adverse tax consequences as civil unions are not recognized on a federal level.

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Yes, EquiTrust allows a joint payout election for IRA money if the spouse is the primary beneficiary.

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The rollup is the annual percentage increase on the Benefit Base. The percentage and duration of the rollup varies by product.

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MarketValue Index and MarketSeven Index offer a Benefit Base Bonus, which is applied to the Benefit Base ONLY. The MarketTen Bonus Index and MarketPower Index offer a Premium Bonus that would be applied to BOTH the Accumulation Value and the Benefit Base.

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Yes, but only for deaths that occurred before 1/1/20. The SECURE Act, passed by Congress and effective 1/1/20 revises Inherited IRA requirements if the beneficiary is not an "eligible designated beneficiary." As a result, EquiTrust temporarily suspended until further notice Inherited IRA sales for deaths that occur after implementation of the SECURE Act.

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The annuitant name on the application should be the beneficiary's name on the existing contract. The owner's name should read: Jimmy Doe, Bene of John Doe, deceased 5/7/17

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If the deceased individual was of RMD age, then the RMD must be taken in the year of death, based on the life expectancy of the deceased. If the deceased was not of RMD age then no RMD is taken in the year of the death. The beneficiary will take his first RMD in the year following the IRA owner's death.

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No.

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A spouse may prefer inherited IRA status instead of spousal continuation because all distributions from an Inherited IRA will be considered death distributions for tax purposes.

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Yes. The current carrier must send the funds to EquiTrust titled as an inherited IRA. For example, the existing contract must be titled as, "John Doe, Deceased FBO Jimmy Doe, Beneficiary."

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Yes.

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Yes.

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Inherited IRA may be placed in all EquiTrust annuities except the Confidence Income Annuity (SPIA).

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No, EquiTrust will not accept Inherited IRA money where the beneficiary is a Trust.

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EquiTrust does not consider an Inherited IRA transfer to be a replacement if the money is being transferred to EquiTrust at the time the death claim is being settled at the other company. If the Inherited IRA owner had previously had the death claim processed and after a period of time chooses to move this money to EquiTrust we consider this to be a replacement.

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No.

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Multiple Inherited IRA contracts can be combined as long as the decedent is the same person on each inherited IRA contract. Inherited IRAs with different IRA owners cannot be combined.

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Download a sample form.

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ImagiSoft is a company that develops life insurance and annuity illustration software for carriers. They have been in business since 1982.

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Time prepared will always be in Mountain Time, which is the time zone in which our illustration servers reside.

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You can navigate non-destructively through the client and illustration information. The dividing line is the "Storage" tab. Once you move back to it (or further back to the "Agent" tab), you cannot step forward without the system reading the database and re-loading all defaults accordingly, i.e. it will ask for information on a new client and new illustration information. It is important for users to click the Store button on the Preview tab to have their work written to the database.

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These accounts cannot be illustrated in Iowa and Rhode Island, however the strategy is available in these states.

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There are 3 options:

1. Click Next from Storage tab to start a brand new illustration (add new client, all inputs).
2. Click New Illustration from Stored Illustration tab. If no client exists in storage, you will be starting from scratch. If a client exists in storage and you have them highlighted, the client tab will be populated with their information, but the remainder of the illustration inputs will be blank.
3. Client New Client from Stored Illustration tab. This will function like #1. All input screens will be blank.

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For the S&P accounts, the best and worst 10-year periods are based on absolute S&P performance, not the particular crediting method performance. All carriers with an index based on the S&P 500 will be using the same 10-year periods, regardless of crediting methods. This can result in periods where the "worst" years will outperform the "best" years, once crediting methods such as averaging, caps or participation rates are applied. The most recent 10-year period might outperform the best period, or be the worst when looking at a particular crediting method. The 10-year periods will be recalculated each calendar year on January 1st.

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RMDs cannot start before 72, but you can choose any age on the withdrawal tab. The calculations are correct and $0's will appear until age 72.

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At this time, the illustration software only allows additional premiums to be illustrated on an annual basis.

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At this time, the illustration software only allows withdrawals to be illustrated annually.

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The age shown in the tabular detail is the end-of-year age. For example, the year 1 age for a 60-year old owner will show 61. Withdrawals that start at age 70 will show up in the illustration on the row with age 71.

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You may need to disable your pop-up blockers.

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Yes. You can store illustrations. They will be saved by client on the Storage tab and tied to your agent number.

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Yes, the software is mobile friendly and can be run on your phone, your iPad, or any other smart device. You must have access to the internet from your device and enter through the EquiTrust Agent Website.

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On the Client tab, make sure to enter the issue state of the contract.

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Yes, any state variations are included with the illustration based on the issue state entered on the Client tab.

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Yes, on Qualified contracts, you can illustrate RMDs prior to starting income withdrawals.

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At this time, you cannot illustrate interest withdrawals. You can illustrate income withdrawals, RMDs, penalty free withdrawals, or a specified dollar amount.

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Google's Chrome browser is preferred for the following reasons:

• It has one, multiple-use input bar for both searches and entering websites
• It takes less memory
• It has a built-in PDF viewer - no need to download Adobe Acrobat
• Less likely to crash because each page is in its own memory space
• It is faster than most other browsers because of its efficient use of memory
• It uses most of its space for the web page, not extra buttons and menus
• It has dozens of useful, optional plug-ins, such as Ad Blocker
• It has multiple tabs for multiple websites in one browser
• It remembers the pages you use most often and builds a customized home page
• Make sure pop-up blocker is disabled. Follow the steps below to disable:
  • If the user has a pop-up blocker icon in their Address Bar, then a Pop-up Block happened
  • To Resolve, click on the icon and choose ‘Always allow pop-ups and redirects from https://imagisoft.com’

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Yes. Under Settings, make sure to turn off "Block Pop Ups" in Safari.

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EquiTrust Life Insurance Company Rating

EquiTrust Life Insurance Company is rated B++ (Good) by A.M. Best Company and BBB+ (Good) by Standard & Poor's for its relative financial strength and ability to meet its obligations to policyholders.

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New Business:

Underwriting - Point of Sale for premium under $250,000. APS required for $250,000 and over.

New Business - In most cases, the contract will be issued within 48 hours of receipt of all requirements, including underwriting approval, application requirements and funds received at EquiTrust Administrative Office.

Inforce Administration:

Distribution - Will be completed within 5 - 7 business days of receipt of all requirements.

Non-Financial - Will be completed within 5 - 7 business days of receipt of all requirements.

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No, outgoing partial 1035 exchanges are only allowed on non-qualified inforce annuities only.

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Faxes accepted:	Original signatures required:
Agent Replacement Questions (Section G of App)	Death Claims
Amendments
Applications
Beneficiary Changes
Delivery Receipts
Owner Changes
Product Disclosures
Life Policy Service Request Form
Numeric Illustration
Reallocation/Rebalancing Changes
Partial Withdrawals & Loans
1035 Exchange or Transfer Out of EquiTrust
Trustee Certification Forms

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Yes, EquiTrust requires Delivery Receipts to be returned for all life insurance policies.

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Single Owner

• Owner can be different than Insured if Owner has insurable interest
• Beneficiary must match Owner if different than Insured

Joint Owners

• Allowed only if 1035 Exchange (if previous policy was jointly owned)
• No Beneficiary requirements

Non-Natural Owner

• Trusts only
• Beneficiary must match Owner

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When a Trust is named as the Contract Owner, EquiTrust requires:

1. All Owner signatures must include "Trustee" after the name
2. Trust Indemnification form signed by the Trustee (as Trustee) and notarized by an unbiased third party
3. Grantor of Trust be insured on the Policy

These documents must be submitted with the application in order to confirm who has authorization to purchase the life insurance policy.

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For all trust owned life policies, EquiTrust requires the Grantor of the Trust to be the insured.

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The estate of the owner will name a new owner to the policy.

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Joint ownership is allowed only if the policy is being funded by a 1035 Exchange and the replacing policy has joint ownership.

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Yes, to designate the death payout, the owner will need to fill out the Beneficiary Designation with Restricted Payout Form - Non-Qualified (ET-2533NQ).

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For premium less than $250,000, a conditional approval or decline is made at the time of the interview in most situations. See underwriting guidelines for full details.

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An illustration will need to be completed and signed by the applicant at time of the application. It should be mailed or faxed to EquiTrust with the application or attached to the E-App. After policy delivery, the client-signed Numeric Summary page will need to be mailed or faxed along with the delivery receipt.

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Yes, both 1035 Exchanges and non-qualified transfers are allowed. The case will be held open awaiting funds for up to 90 days following underwriting approval. After 90 days, a Statement of Good Health will be required.

The policy will be issued with the interest rates in effect when the premium is received unless it falls under our 60 day rate hold policy.

A 1035 exchange of a policy with a loan balance is not accepted.

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The Terminal Illness benefit is intended to be income tax-free to the policy owner. The Nursing Care Confinement and Chronic Care benefits may be taxable. The owner should seek advice from a qualified tax advisor before electing to accelerate the Death Benefit.

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No, EquiTrust does not offer a Temporary Insurance Agreement except in the state of Kansas where one is required to be offered.

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No, only the Insured must meet the issue age requirements at the time premium is received.

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Scenario	1	2	3	4	5
Client Residence	A	A	A	A	A
Agent Residence	A	B	B	B	A
State of Solicitation	A	A	B	C	B
Acceptable	Yes	Yes	Yes	Yes	No

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Yes, if a face-to-face meeting isn’t feasible or advisable, business may be submitted by mail and must include a signed Remote Application Form.

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Download the Underwriting Flow Chart.

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A new telephone interview must be completed with each application. The telephone interview is good for a pending application for 30 days unless an APS is ordered, then it is good for 90 days.

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Download the Underwriting Guidelines

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If more than one source of premium is used, the effective date of the policy will be the date the last premium is received.

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An Attending Physician Statement (APS) is ordered when new and existing life premium is $250,000 or more.

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No, age is based on the age as of the effective date of the policy. The effective date is based on the date we receive the full single premium at the home office.

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WealthMax Bonus Life, declared rate: 5.5%

WealthHorizon Life, declared rate: 5.5%

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Yes. The program includes these guidelines:

• Internal transfers are available for any Index Annuity or Traditional Fixed Annuity that is outside the surrender charge period.
• Internal transfers may be placed into any annuity or life product currently offered by EquiTrust with the exception of the Confidence Income Annuity.
• Partial internal transfers are allowed from out-of-surrender contracts.
• Internal transfers of the penalty free portion of an inforce annuity while still in the surrender charge period will not be allowed.

For more information, see form ET-INTERNALTRANSFER, or click here. 

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Name, percentage, primary or contingent, relationship, social security number/TIN, date of birth and address will be needed for each beneficiary on the application.

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AK, AZ, CA, ID, LA, NV, NM, TX, WA, WI

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If we are aware of the existence of a spouse on the contract written in these states, we must have a spouse signature for any financial transaction, e.g., distributions and in-force financial activity. Spouse's signature is not needed for the New Business process. The 1035/Transfer form does not provide for a second signature, so the spouse can sign anywhere in the owner-signature area.

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The COI, policy expense charge and policy fee are deducted monthly.

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Yes

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Give your client a copy of the MIB and FCRA notice (pages 7 and 8 of the application); the interviewer will seek confirmation of this. Also, your client should have available the names and addresses of all physicians; date of physician and facility visits; current medications and dosages; details of injuries, conditions and illnesses; and Social Security number.

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Yes, whether approved or declined, applications must be received by EquiTrust within 5 business days of completed interviews.

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ImagiSoft is a company that develops life insurance and annuity illustration software for carriers. They have been in business since 1982.

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Time prepared will always be in Mountain Time, the time zone in which illustration servers are located.

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You can navigate through the client and illustration information without losing entered detail. However, if you go back beyond the Storage tab, entered detail will be erased. It is important for users to click the Store button on the Preview tab to have the illustration inputs saved.

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There are 3 options:

1. Click Next from Storage tab to start a new illustration (add new client, all inputs)
2. Click New Illustration from Stored Illustration tab. If no client exists in storage, you will be starting from scratch. If a client exists in storage and you have them highlighted, the client tab will be populated with their information, but the remainder of the illustration inputs will be blank.
3. Click New Client from Stored Illustration tab. This will function like #1. All input screens will be blank.

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The age shown in the tabular detail is the end-of-year age. For example, the year 1 age for a 60-year old owner will show 61.

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You may need to disable your pop-up blockers.

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You can store illustration inputs. Inputs will be saved by client on the Storage tab and tied to your agent number. The completed illustration cannot be saved to prevent potential presentation of outdated illustrations.

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Yes, the software is mobile-friendly and can be run on your phone, your tablet, or any other smart device. You must have access to the internet from your device and enter through the EquiTrust Agent Website.

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On the Client tab, make sure to enter the issue state of the contract.

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Yes, any state variations are included with the illustration based on the issue state entered on the Client tab.

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Google's Chrome browser is preferred for the following reasons:

• It has one, multiple-use input bar for both searches and entering websites
• It takes less memory
• It has a built-in PDF viewer - no need to download Adobe Acrobat
• Less likely to crash because each page is in its own memory space
• It is faster than most other browsers because of its efficient use of memory
• It uses most of its space for the web page, not extra buttons and menus
• It has dozens of useful, optional plug-ins, such as Ad Blocker
• It has multiple tabs for multiple websites in one browser
• It remembers the pages you use most often and builds a customized home page
• Make sure pop-up blocker is disabled. Follow the steps below to disable:
  • If the user has a pop-up blocker icon in their Address Bar, then a Pop-up Block happened
  • To Resolve, click on the icon and choose ‘Always allow pop-ups and redirects from https://imagisoft.com’

A:

Yes. Under Settings, make sure to turn off "Block Pop Ups" in Safari.

A:

The Alternative values are determined using the Non-Guaranteed charges (policy expense charge, policy fee, and cost of insurance rates) and the Fixed Account credited rate. Note that if the allocation of the premium is 100% 1-Year (Fixed) Interest Account, the Alternative and Non-Guaranteed Values will be the same.

A:

The lookback for the S&P 500 is prescribed by Actuarial Guideline 49. The look back is based on all of the 25-year periods from the past 60 years. The average of all of these values is used to determine the maximum illustrated rate. The look back is based on a point-to-point crediting method with the current cap and a 0% floor.

A:

The minimum, maximum, and mean values on page 15 are the lowest, highest, and average of all the 25-year lookback values from the past 60 years.

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Low-volatility US stocks and US Treasury indices

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The index was launched on May 31, 2019. However the underlying components of the index have been in existence for many years, allowing back tested historical results to 2003.

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Historical information and current index allocations are available at the index-sponsored website: Indices.Barclays/Focus50, ticker: BXIIF50E

A:

The index is available currently on all index annuties and all single-premium index-life products: WealthMax Bonus Life and WealthHorizon Life.

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Yes, contact EquiTrust Sales Support for current index weightings. Weekly updates are available. Call 866-598-3694, or email [email protected]

A:

The Focus50 Index seeks growth opportunities while limiting volatility through exposure to a dynamic combination of U.S. stocks and U.S. Treasury Indices. Low Volatility U.S. stocks are used because, historically, they have tended to outperform other, higher volatility stocks, on a risk-adjusted basis. The addition of Treasuries adds a diversification benefit and a potential reduction in risk. To further control risk, the index aims to limit its annual volatility to a 5% target using a process called volatility control.

A:

Each month the Index follows a systemic process to select up to 50 stocks as its new constituents. The broad universe consist of all stocks listed on the New York Stock Exchange and NASDAQ issued by companies headquartered in the United States. The Index then filters out stocks that do not meet defined size and liquidity thresholds.

The remaining eligible stocks are then ranked based on 1-year historical volatility, and the process selects the 50 stocks with the lowest volatility, subject to the requirement of including no more than 10 stocks from any single industry sector. This limitation is designed to prevent over-concentration in any given industry sector.

Upon the completion of the next Index rebalancing, the 50 newly selected stocks, weighted equally, will represent the Index constituents for the following month. The entire process is repeated each month to construct a dynamic stock portfolio that is reconstituted and rebalanced on a monthly basis.

A:

Exposure to bonds is represented by an equally weighted basket of four indices which track US Treasury 2, 5, 10, and 30-year futures. The allocation between the 50 stocks and bond indices is determined by recent risk and return components of each, as well as their correlation to each other, to formulate a percentage allocation that will provide the greatest return potential for the specified risk level.

The portion allocated to bonds may be further refined to minimize the impact of rising interest rates. If trends indicate rising rates, half of the bond allocation is directed to the two best-performing of the four Treasury indices, while the other half is allocated to cash.

A:

As an additional level of risk management, the Focus50 Index manages the exposure weightings of the index portfolio with the objective of a constant annualized volatility of 5%.

A:

5%. If the index portfolio volatility exceeds 5%, the Index will allocate less than 100% to the index portfolio, leaving the residual portion in cash. Conversely, if the index portfolio volatility is below 5%, the exposure to the index portfolio may exceed 100%, up to a maximum exposure of 150%. Volatility control is accomplished by shifting to an allocation with lower volatility.

A:

Premium may be allocated among any of the indices offered within the contract.

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Barclays Bank PLC ("BBPLC") is the administrator of the quantitative investment strategy ("QIS") indices. The Barclays Quantitative Investment Strategies are a diverse family of systematic non-discretionary trading strategy indices available across multiple asset classes including equities, fixed income, FX, commodities, derivatives and alternative investments.

No single index or crediting strategy can consistently achieve above average performance in all market conditions. During periods of market declines, index credits may be zero - but will never result in a loss of credits already added to your contract.

A:

S&P500 stocks, gold futures and US Treasury futures

A:

The index was launched on March 27, 2017. However the underlying components of the index have been in existence for many years, allowing longer back tested historical results.

A:

Historical information and current index allocations are available at the index-sponsored website: SPIndices.com, ticker: SPMARC5P

A:

The index is available currently on two index annuities: MarketValue Index and MarketSeven Index. It is also available on all EquiTrust single-premium index-life products: WealthMax Bonus Life and WealthHorizon Life.

A:

No

A:

The Index is a diversified and dynamic multi-asset strategy to manage market volatility. It seeks to maximize potential returns while keeping risk in check. It uses a simple risk-weighting framework to provide exposure to more than just equities, with potential allocations to equities, gold and fixed income. Large-cap stocks, historically, have provided strong potential upside; gold offers a hedge against inflation; and bonds provide opportunities when interest rates fluctuate. In low-volatility environments, the Index increases exposure to riskier assets - up to a leveraged position of 150%. In high volatility environments, it moves allocations to more conservative assets, and may also use cash. It can alter its allocations daily. It is designed to deliver Asset-Class diversification, Dynamic Asset Rebalancing and Volatility Control.

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By adding a volatility control component to the index, returns should be more stable and less volatile. Volatility control is accomplished by shifting to an allocation with lower volatility in this case cash.

A:

The Volatility Target of 5% is used on a daily basis to narrow down the possible portfolio combinations.

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Premium may be allocated among any of the indices offered within the contract.

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S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI).

No single index or crediting strategy can consistently achieve above average performance in all market conditions. During periods of market declines, index credits may be zero - but will never result in a loss of credits already added to your contract.

A:

This step helps EquiTrust verify that you have completed required training for the product being purchased. For security purposes, this information is not retained after the application is submitted.

A:

While many of the forms are added automatically based on various application-input variables, some forms need to be selected manually to cover certain circumstances.

Forms can be selected at the beginning of the application process. If additional forms need to be added before the application is signed, you can click "Other Actions" from the top-right tool bar, then select "Manage Optional Forms."

A:

Yes. The e-signature process requires an email address to validate the client's identity. If an email address is not available, the electronic application can be printed and mailed to EquiTrust.

A:

Yes. If owned by a trust, the owner needs to sign as TTEE. The Trust Information form (ET-TRUST-2502) requires a notary; therefore it must be printed, signed, notarized, and mailed to EquiTrust.

A:

When completing an E-App where the owner is a Trust, the signature section will display "Authorized Signer" and if applicable "Authorized Signer 2".

• Authorized Signer is Trustee 1
• Authorized Signer 2, if applicable, is Trustee 2
• There may be more Signers listed, depending on the number of Trustees

A:

If owned by a minor, the custodian needs to sign on behalf of the minor. Either the Transfer Under Uniform Gift to Minors Act form (ET-2505) or Custodian paperwork is required. The signature section will display "Other Signer," this is the Donor in the UGMA/UTMA scenario.

A:

Yes. If a Power of Attorney has already been established and a Power of Attorney document is in effect, the Power of Attorney Certification form (ET-POACERT-2500) is required. The form requires a notary and must be printed, signed, notarized and mailed to EquiTrust before the application can be processed.

If a Power of Attorney has not been established, one can be established for EquiTrust by completing the Power of Attorney Appointment and Indemnification Agreement form (ET-POAAPPT-2501). The form requires a notary and must be printed, signed, notarized, and mailed to EquiTrust before the application can be processed.

A:

If a guardianship has been established, the Guardian needs sign as Guardian. Guardianship paperwork is required.

A:

The Complete Name fields (first-middle-last) need to be completed as follows:

• Example: JoAnn Jean Doe, Deceased

• Example: FBO John Mark Doe, Beneficiary

A:

From the home page, select My Preferences button.

• Default Jurisdiction allows you to set the state in which you most often do business.
• Default Product Type allows you to set your most frequently used product type.
• Default Time Zone allows you to set the timezone in which you are located.
• Page Size for My App. List allows you to set the maximum number of applications to display on the home page.
• My Full Name as it will appear on paperwork.
• My Email Address allows correspondence to be sent to the email address listed.

A:

• Open the application
• Select "Other Actions" from the top-right toolbar
• Select "Unlock Application"

A:

Any additional required documentation can be uploaded by choosing "Other Actions" in the top-right toolbar, and then choosing "Documents." A pop-up will appear for you to upload the scanned document. Be sure to change the Document Type to "Illustration".

A:

When submitting additional, hard-copy forms such as the Trustee Certification, Power of Attorney form, checks or original-signed transfer paperwork - please include the following information:

• Indication that the check/forms correspond to a submitted E-App
• Full client name
• Agent name, agent number and contact information

A:

There are two ways to review the fields which are incomplete on the application.

1. Click the "%" sign on the Form Entry tab in the upper left corner of the application. A list with Form Number, Page Number, and Specific Field will be displayed. The red items are required to move forward with the application. The orange items should be entered, if available, but are not required to move forward with the application. Click Show All to see all items. When you click on one red or orange item, you will be taken directly to that location within the application to make corrections. When ready to proceed to the next incomplete field, click the % to select other items to be completed or corrected.

Or,

1. Click on the red conversation bubble in the upper right corner of the application to show all error messages. Once clicked, red error messages will be displayed next to all required fields with incomplete or missing information. Orange messages will be displayed next to fields with missing information that should be entered, if available, but are not required to move forward with the application.

A:

Once an application is finished and submitted, it is locked for any additional editing. Therefore, no NIGO requirements or additional documents may be added to that file. NIGO requirements and additional documents should be faxed or mailed to EquiTrust. Be sure to reference the existing contract number.

A:

Yes. Whether an application is in an Unlocked or Locked status, it can be copied. This is helpful when a new application is nearly identical to an existing one. To copy an application, click on All Applications in the upper right corner of the screen, select the application you would like to copy by clicking on Copy task button. This will open a Copy Application dialog box. Click the Copy As Is button to copy the application without changes to the Jurisdiction, Product, or optional forms. Enter the Application Name and proceed with editing the application as necessary. Click the Copy with Changes button to change the Jurisdiction, Product, or optional forms on the application copy. Select the Jurisdiction, Product Type, and Product Name on the Create a New Application page. Proceed with editing the application as necessary.

A:

Yes. If you are in the middle of completing an application, save the information and then click on Home in the upper right corner. Under All Applications, will be a list of your applications. Select the one you were working on and click on the Copy task button. Click the Copy with Changes button to change the Jurisdiction, Product, or optional forms on the application copy. Select the Jurisdiction, Product Type, and Product Name on the Create a New Application page. Proceed with editing the application as necessary.

A:

When completing an electronic application there are forms that may require original signatures to be mailed into the home office to complete the application process. One or more of these forms may be included in your application packet. Please see below:

• ET-TRN/1035-4902
• Whether or not an electronic signature will be accepted on the Transfer/1035 Exchange form is up to the transfer company. Please check with the transfer company to verify if electronic signatures are accepted.

• Form number varies by state requirement
• Whether or not an electronic signature will be accepted on the Replacement form is up to the replacement company. Please check with the replacement company to verify if electronic signatures are accepted.

• ET-2513
• If the bank account being used is jointly owned by an individual not listed on the application, an original signature is required.

• ET-POAAPPT-2501
• This form requires a notarized signature and therefore an original signature is required.

• ET-POACERT-2500
• This form requires a notarized signature and therefore an original signature is required.

• ET-TRUST-2502
• This form requires a notarized signature and therefore an original signature is required.

• ET-2507
• This form requires signature from the Charitable Remainder Trust Donor and Trustee/Administrator and therefore an original signature is required.

Any form that requires an original signature can be completed electronically with the exception of the signature portion. The completed form should then be printed, signed, and notarized (if required) and mailed to our home office:

A:

No. The system allows for a signature pad to be used, but a signature pad or a touch screen device are not required to obtain electronic signatures. On the Capture Electronic Signature screen, enter the Signer Full Name and it will appear in a signature font.

A:

If Owner is not married, the Owner's Spouse verification page will need to be completed with Owner info in order to proceed to the signature section. Type "Not applicable" in the Owner's spouse signature field.

A:

At this time, E-App only allows for up to two agents to be listed on the application. If you have more than two agents to list on the application, you must print the E-App by selecting Other Actions and Display/Print PDF in the upper right corner of the screen to write in the agent names and commission percentages. Application will need to be mailed. The option to add more than two agents on an E-App is an enhancement planned for the future.

A:

The application sign state is where the client is physically located when the application is signed. Therefore, the state in which it will be physically signed must be selected. The agent must be licensed in the state where the application is signed.

Example: If a CA resident comes to IA to complete an e-application and chooses to have the application emailed to them to complete their signature but will not be signing until they are back in CA, CA paperwork must be completed and the agent must have a CA insurance license.

A:

E-applications are saved under All Activities and can be accessed for 90 days. After 90 days, they will be removed from the system for security reasons. Please save and print the application for your records.

A:

The App is designed for mobile phone use. It can be downloaded on a tablet, but may not optimize correctly. For best results, please use the Agent App on a mobile phone device.

A:

Apple - 9.2 and above.

Android - Jelly Bean, Android 4.1, API level 16

A:

The App is for agent use only at this time. It is not supported for use by marketing organizations, clients or the general public.

A:

The phone's storage will need to be accessed to download the Agent App. Also, some EquiTrust information that is not secured (such as rates and product information) will be stored on the phone for future access without needing a Wi-Fi connection.

A:

New Business>View All: You will see last 7 days of activity

Sales Tools>Marketing Alerts: None will show prior to the date the Agent App was registered

A:

Yes, there will be future releases with additional features such as ordering supplies.

A:

No, the PIN must be the same on all devices. All devices will recognize the most recently set PIN.

A:

Check your phone settings to see if the "Zoom" feature or increased font size is selected.

A:

You will only see information on products for which you are contracted, e.g. life, annuity or both.

A:

If you have been connected to the internet, Wi-Fi or cellular service in the last 30 days you will be able to see all unsecured information (everything except commissions, new business, and active business).

A:

Only pending transfers or anticipated transfer amounts show in the dollar field. Cash with app checks do no show in the deposit screen as "anticipated amount". The agent must click on the policy notes to see checks received. (This is also how it shows on our agent website.)

A:

They remain under New Business for 7 days.

A:

A completion date will only show once you have completed each respective training.

A:

An alert is a pop-up window that stops your mobile device activity and displays the detail of the notification.

A notification is a slim pane that slides into view for a few seconds at the top of the screen, then disappears.

A badge is a little dot with a number signifying the number of waiting alerts.

A:

New alerts are sent daily at 10:00a.m. and 3:00p.m. Central Time.

A:

At this time all alerts must either be on or off.

A:

Go to: More Options>Settings. Then click, "Go to System Settings".

A:

The contract/policy is no longer pending. To view notes for an active contract, please go to Active Business.

A:

If you have 'read' the alert and do not completely close the Agent App, it will remain in your alerts until midnight Central Time.

If you close the Agent App after looking at an alert, it will be gone the next time you reopen the app.

If you do not look at an alert, it will remain posted as long as the contract is still pending or 6 months have passed - whichever comes first.

A:

If a contract was "Not Taken" or "Free Looked", it is no longer in a "Pending" status so it will not show in "New Business". If the agent is not aware of the free look, we call to inform the agent and allow the agent 5 days to conserve the contract.

Last Paid: Shows last paid commission. Does not necessarily have to be this year.

YTD: Shows what has actually been deposited into their bank account.

A:

iOS/iPhone: Make sure your Safari browser allows for pop-ups. Go to "Settings" then "Safari". Scroll down to "Block Pop-ups" and make sure the slide button is in the left/off position.

Android: The device must have a PDF viewer installed. The Android operating system does not come with a PDF viewer (i.e. Adobe Acrobat) preinstalled on the phone.

A:

Generally this has to do with your connections. Here are some troubleshooting solutions.

1. Restart the Wi-Fi connection
1. Turn Wi-Fi off and back on, try to connect
2. Try to connect to our app (register, login, etc.)
3. If that doesn't work, try solution #2.
2. Try using just cellular
1. Turn Wi-Fi off, make sure there are plenty of cellular service bars
2. Try to connect to our app (register, login, etc.)
3. If that doesn't work, try solution #3
3. Try using just Wi-Fi to connect
1. Turn cellular service off, make sure there is a good connection to Wi-Fi
2. Try to connect to our app (register, login, etc.)
3. If this still does not work, please call EquiTrust Sales Support at 866-598-3694.

A:

Annual statements, address changes, withdrawals/loans processed, and death reported.

A:

In addition to upfront commissions, Option A, EquiTrust offers two trail commission options for both annuities and life insurance products. Option B: Upfront plus Trail and Option C: Trail Only, which will be available on the following products:

Annuities

• MarketPower Bonus Index
• MarketTen Bonus Index
• MarketValue Index
• MarketSeven Index

Life Insurance

• WealthMax Bonus Life
• WealthHorizon Life

A:

For annuities, the three commission options are structured as follows:

Option A is full commission paid upfront. For flexible products, half the first-year commission will be paid on any premium received years 2-5.

Option B is half of full commission paid on premium received paid upfront and trail commissions of .50% based on the contract Accumulation Value on the anniversary date paid for as long as the contract has an accumulation value and remains inforce. For flexible premium products, half the first-year commission will be paid on any premium received years 2-5.

Option C is 1% of premium received before any bonus is applied paid upfront and trail commissions of 1% of the contract Accumulation Value of the anniversary date paid for as long as the contract has an accumulation value and remains inforce. For flexible premium products, .50% will be paid of any premium received years 2-5.

Commission percentage may vary by state and agent-contract level.

A:

For life insurance, the three commission options are structured as follows:

Option A is full commission paid upfront.

Option B is half of full commission paid on premium received paid upfront and trail commissions of .50% based on the policy Accumulation Value on the anniversary date paid for as long as the policy has an accumulation value and remains inforce.

Option C is 1.25% of premium received before any bonus is applied paid upfront and trail commissions of 1.25% of the policy Accumulation Value on the anniversary date paid for as long as the policy has an accumulation value and remains inforce.

Commission percentage may vary by state and agent-contract level.

A:

The Index Annuity Commission Election form (ET-COMMELECT) or Life Insurance Commission Election Form (ETL-COMMELECT) must be completed to elect Option B or C. If no form is received or no election made, commission payment method will default to Option A. The Commission Election form is available under Forms on the agent portal and is also included in the app packet on AppBuilder and in the E-App.

A:

Yes, however all agents must elect the same commission option on a split case.

A:

Yes. The Index Annuity Commission Election form (ET-COMMELECT) or the Life Insurance Commission Election form (ETL-COMMELECT) must be completed for each sale to elect a trail option. If the form is not received, commission payout method will default to Option A-Upfront commission.

A:

The commission option can be changed if the contract/policy is still pending. Once a contract/policy is issued, the commission option cannot be changed.

A:

Yes. Trail commissions will continue to be paid to the writing agent when the servicing agent is changed.

A:

Trail commissions will be charged back in the same manner as the normal commission chargeback based on when it is taking place and what the chargeback provision is for the product sold.

A:

At this time, assignment of commission is not allowed.

A:

Your trail commission options will remain the same.

A:

Your 1099 should reflect commissions paid to you in that year.

A:

In most cases, EquiTrust will pay trail commissions to terminated agents as long as they have not been terminated for cause.

A:

Upon the death of the agent, the remaining commission will be paid to the designated beneficiary. If there is no designated beneficiary, the remaining commission will be paid to the agent's estate. The remaining amount will be equal to the difference between the Option A commission amount and amount of trail commissions paid to date. If the commission paid to date is greater than the Option A commission, the amount paid to the beneficiary is zero.

To designate a beneficiary for trail commissions, complete the Agent Beneficiary Designation form (ET-AGTBENE). Only one form should be completed and will be applicable to the agent's entire block of business.

A:

A Licensed Only (LO) agent may only select trail commission Option B or C when they are licensed only to their own corporation.

A:

Upon the death of the LO agent, the remaining commission will be paid to the Corporation in a lump sum. The remaining amount will be equal to the difference between the Option A commission amount and amount of trail commissions paid to date. If the commission paid to date is greater than the Option A commission, there will be no additional amount paid to the Corporation.