Equitrust

The EquiTrust Life Insurance Company is an American Insurer based in Iowa and Illinois that is most notable for being owned by Earvin Magic Johnson.  The sell and service Life Insurance and Annuity products.  The company is currently rated B++ by AM Best.

EquiTrust Life Insurance Company Address: 7100 Westown Parkway, suite 200 West Des Moines, IA 50266 USA

Company Mailing Address: PO 14500 Des Moines, IA 50306

EquiTrust Phone Number: 312-702-3400

EquiTrust Fax Number: 312-634-9550

EquiTrust Website: equitrust dot com

EquiTrust NAIC Number: 62510

Executive Leadership of EquiTrust:

Eric Holoman - Chief Executive Officer and President

Paul Miller - Chief Operating Officer

Keynatta Matheny - Chief Investment Officer

EquiTrust has a rather complicated history.  Originally created from the Financial Bureau Group, which has its origins from the 1930s, it began selling and servicing insurance and annuity products in the 2000s.   The Farm Bureau Group sold Equitrust to Guggenheim Partners in 2011.

In 2014 Equitrust  moved its legal headquarters to Iowa from Illinois.

In 2015, Magic Johnson Enterprises acquired a majority controlling interest in the EquiTrust Life Insurance company.  "The deal becomes the largest acquisition by a minority-owned business of a financial services firm in history," says Black Enterprise.

The company received Ward's Top 50 Performing Insurance Companies recognition.

The company is probably most well known for being owned by Magic Johnson.

They offer numerous life insurance and annuity products.   

EquiTrust offers generally three different categories of life insurance products.

All of these are various forms of Whole Life Insurance.  Whole, in comparison to term life insurance is life insurance that you keep for your entire life.

Simplified Issue insurance goes by many other names.  Essentially its a life insurance without the full medical exam and is intended to issued in a much speedier period of time.

The single premium life insurance is a type of whole life insurance that is paid for once but that lasts forever.  Single Premium life insurance, is a very interesting option for those considering whole life insurance policies.  The single premium can in theory eliminate the need to budget the rather expensive cost of whole life insurance, especially during the retirement years.   Their Single Premium Life policy has three different chasis that it pairs with.  Your options include the EquiTrust WealthSure Life product, their EquiTrust WealthMax Bonus Life product, and their EquiTrust WealthHorizon Life product.  Most of these have minimum issue age of 50 and 55 years old.

This company also offers numerous annuities.  All of the equitrust annuities appear to be Fixed annuities.   They offer both "accumulation" and "payout" annuities.  

Extreme care should be taken whenever you are purchasing any form or type of annuity, for any reason.

Annuities are not the focus on this website, therefore we mention them, but do not go into depth with regard to them.   If you are looking for a reputable firm to assist you in your purchase and consideration of an annuity we are more than happy to refer you along.

For more detailed information, kindly please see the their Insurance company's products page.  As with any business their products are subject to change.

In many areas of life a B++ rating may be considered just fine, however in the world of life insurance, a B++ rating is not great.  For this reason, I find it difficult to offer up this insurance company as a suitable product, especially for longer term life products such as Whole Life Insurance.   There are so many A+ and A++ rated insurers available to american consumers.  Over 125 by my last count.  With so many carriers in those rankings I struggle to find justification to offer this product.

AM Best Financial Strength Rating: B++

Standard and Poor's Strength Rating: BBB+

Both Moodys and Fitch Ratings due not appear to have a rating.

*Image taken direct from AMBest.com - March 2018.

August 2013: B++

October 2014: B++

November 2015: B++

January 2017: B++

February 2018: B++

*Image taken direct from AMBest.com - March 2018.

So what do all of these Financial Strength Ratings mean exactly?   The AM Best and other rating agency's opinions of this insurance company is that this company is in good shape.  However, a good rating is not nearly as good of a rating as many other life insurers.  Therefore clients are best advised to tread carefully purchasing from any life insurer that is sub A- rated.

If you are considering using an EquiTrust life insurance product for any sort of use other than pure insurance, I would strongly encourage you to get quotes from more highly rated competitors before making your decision.

In the case of the Equitrust life insurance company their financial strength rating (FSR) of B++ is truly the most important consideration of all.

Whole Vs Term life insurance is not appointed to sell life insurance with this organization.   We provide this information to assist consumers in their search for life insurance.