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For Producer Use Only
Newswire: Income Benefit Riders get an upgrade
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INCOME BENEFIT RIDERS NOW OFFER UPGRADED BENEFITS
Optional IBRs can help clients boost future income over time
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One way clients can secure guaranteed income for life is through a fixed index annuity (FIA) that offers an Income Benefit Rider (IBR). Several EquiTrust FIAs feature an IBR that pays lifetime income even if the contract's Accumulation Value is depleted.
IBR enhancements We’ve increased rollup rates and withdrawal percentages on our FIAs that have an IBR.
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FIA
New rollup rate
Change to single income withdrawal %
MarketPower Bonus Index®
7% for 10 years (previously 6%)
+1.75% for all ages
(e.g., 5.25% age 65)
MarketTen Bonus Index®
7% for 10 years (previously 5%)
+2.00% for all ages
(e.g., 5.50% age 65)
MarketValue Index®
3% + credits for 10 years (no change)
+0.75% for all ages
(e.g., 4.75% age 65)
MarketSeven Index®
7% for 7 years (no change)
+2.00% for all ages
(e.g., 6.05% age 65)
Begin using new forms and materials now
As of today, Apr. 4, 2023, please begin using revised product disclosures, as well as disclosure and comparison (D&C) forms. AppBuilder and Firelight on the Agent Gateway have been updated with the new versions. The updated versions will be required on May 1, 2023.
We've also updated agent guides, client brochures and specimen contracts. These are available on the Agent Gateway under Forms & Supplies > Forms. In the dropdown menu, select "Agent Guide," "Marketing and Sales” or “Specimen Contracts.”
EquiTrust does not offer investment advice to any individual and this material should not be construed as investment advice. Products underwritten and issued by EquiTrust Life Insurance Company, West Des Moines, Iowa.
