EquiTrust Life Certainty Select 10
Current Fixed Rate
5.30%
The EquiTrust Life Certainty Select 10 is a single premium, fixed annuity with a ten-year rate lock. It accepts both qualified and non-qualified money and includes a Market Value Adjustment. At maturity, owners can withdraw the full account value, renew for a new term, or exchange for another annuity with a different insurance company.
This annuity contract allows for free interest withdrawals after the first month. Qualified, non-qualified, TSP, and corporate deposits are all accepted. The full account value is available upon passing with no surrender charges.
In Florida, the contract will renew into a 1-year guarantee period with no surrender charges if no elections are made at maturity. In Alaska, Alabama, and South Carolina, owners may choose to begin a new guarantee period (with new surrender charges) or renew at an annually declared fixed rate with no surrender charges.
More Annuity options from: EquiTrust Life
Notable Features
This policy offers two riders at no extra charge. There is a Nursing Home Waiver that, after one year, allows for penalty-free withdrawals if the owner is confined for 90 days. There is also a terminal illness rider that, upon diagnosis, will waive surrender charges on 75% of the accumulated policy value.
Additional Details
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Term
10 Years
Free Withdrawals Yr1 / Yr2+
Int / Int
Surrender Schedule
10%, 10%, 9%, 9% 8%, 8%, 7%, 7%, 6%, 5%, 0%
Maximum Age
90
Minimum Investment
$10,000
Maximum Investment
$1,000,000 without prior approval
What We Like About This Annuity
This is a long-term annuity that allows for monthly interest withdrawals. There are no surrender charges at death. Rates are often very competitive nationally for a ten-year term allowing consumers to lock in higher rates for longer. The contract does not auto-renew at maturity.
Other Popular Products
EquiTrust Life offers several innovative annuities for income, growth and estate protection. Their new Bridge Annuity is a popular hybrid long-term care policy. Beyond that their single-premium, indexed life insurance policy (WealthMax) is a great product for transferring wealth to your beneficiaries.
About EquiTrust Life
EquiTrust Life
AM Best Rating: B++ Good (5th of 13 ratings)
https://www.equitrust.com/
About EquiTrust Life Insurance Company
Founded in 1996 and B++ rated with AM Best, EquiTrust Life is well-known for their annuity, long term care, and life insurance offerings nationwide. They hold an A- rating with Standard & Poor’s.
In 2003, they began operating in the independent-insurance channel, offering annuities to consumers. Their corporate headquarters is in Chicago, IL. All administration takes place out of West Des Moines, IA. Magic Johnson Enterprises acquired a controlling interest in 2015.
Through the years, they have amassed nearly $30 billion in assets and boast nearly a 95% investment-grade bond portfolio with a $110 solvency ratio. This high ratio represents their ability to meet all policy obligations.