Skip to main content

MONTHLY OVERVIEW: June Updates, Recaps and Department News

 
Image
 
 

June 2022

Two BIG-SPLASH Announcements

Rate Increase AND Income Rider Special

 

Exciting New Rates

For all EquiTrust Annuities! Click here.

New Rates are Effective for all Contracts with Effective Date on or after June 22nd!

 

Limited-Time Income Rider Rollup Rate Increase!

9% Compounded on the Benefit Base Value for:

  • MarketPower Bonus Index
  • MarketTen Bonus Index

Applications must be received at EquiTrust office June 22nd – August 31st to receive the 9% Rollup Rate!
?

Special IBR Webinar Replay

  • EquiTrust Income Rider Design Advantages
  • Rollup Rate Increase
Watch Replay
?

Sizzling-Hot MYGA Rates!

4% for 5 Years

Certainty Select – Multi-Year Guaranteed Annuity

 

Take advantage of highly competitive MYGA rates available now. Certainty Select rates haven't been at these levels since 2009.

 

Rates (As of 6/22/22)

3 Years:     3.10%

5 Years:     4.00%

6 Years:     4.20%

8 Years:     4.25%

10 Years:   4.30%

 

Additional Features

  • Free Withdrawals of Cumulative Interest – Anytime, Without Surrender Charge or MVA
  • Applicant Ages 0-90
  • Nursing Home Waiver Rider, applicant ages 0-80
  • Terminal Illness Rider
  • Full Accumulation Value at Death
?
Image

News Briefs
Alternate text

New Business

Reminder: Money-Received Date Determines Rates

In the event of a rate change, the rates applied to new business are based on the money-received date. If money is received before the effective date of a rate change, the contract’s effective date and rates will be subject to the previous rates. If a client chooses to free-look a newly issued contract, keep in mind that EquiTrust does not accept reapplication. 
Alternate text

Security

Tips to Safeguard Your Clients’ Account Security

The frequency of contract take-over attempts that originate from an agent’s email/device/records being compromised is rising dramatically. Criminals recognize that carriers and financial institutions – including EquiTrust – now have multiple layers of account security, and attacking a single client account, even if “successful” gives them access to only one or two client accounts. In contrast, individual agents likely don’t have a cyber security team; and if criminals can compromise an agent’s emails/records/accounts, they have access to not one or two client contracts, but potentially hundreds.

 

Here are a few recommended tips to keep your clients’ accounts secure:

  • Update your account passwords regularly
  • Secure your personal records and devices
  • If you suspect your account may be compromised- reach out- EquiTrust can help you secure your clients’ information
Alternate text

Training

Revised NAIC Model Regulation Adopted in 26 States –
Training Required

The National Association of Insurance Commissioners (NAIC) revised the Suitability in Annuity Transactions Model Regulation 275 in February 2020. Currently, 26 states have adopted the Regulation:
 
  • Alabama
  • Arizona
  • Arkansas
  • Connecticut
  • Delaware
  • Hawaii
  • Idaho
  • Iowa
  • Kentucky
  • Maine
  • Maryland
  • Michigan
  • Minnesota
  • Mississippi
  • Montana
  • Nebraska
  • New Mexico
  • North Dakota
  • Ohio
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Texas
  • Virginia
  • Wisconsin
 

The revisions require completion of EITHER a 1-hour General Annuity Training CE course available to producers who have taken the previous NAIC Annuity Suitability training, OR a new 4-hour General Annuity Training CE for those who have not taken it previously. General Annuity Training CE must be completed with a training vendor approved by the state in which they are selling. 

 

Before doing business in these states, agents must fulfill the General Annuity Training requirement and provide a certificate of completion to EquiTrust prior to soliciting or selling. Send by FAX to 515-226-5102, or email: [email protected]. For information about General Annuity Training vendors, visit Agents.EquiTrust.com. In the upper right corner, click Agent Training. Or, click here.

 

Carrier Product Training – No additional or new requirement 

EquiTrust agents must also complete EquiTrust annuity product training. The product training requirement is not impacted by the revised Model Regulation. To complete EquiTrust Annuity Product Training visit Agents.EquiTrust.com, then click Agent Training in the upper right hand corner. Or, click here. You may view your personal training history upon login to the Agent Gateway website.
?

866.598.3694

Agents.EquiTrust.com

Products underwritten and issued by EquiTrust Life Insurance Company, West Des Moines, Iowa. Products distributed by EquiTrust Insurance Marketing Services; in California doing business as EQT Insurance Marketing Services.

IC22-ECN-1085

FOR PRODUCER USE ONLY

EquiTrust

7100 Westown Pkwy Suite 200
West Des Moines, IA 50266

scroll to top of page
? Questions?