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Review of Equitrust Life Insurance Company

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Equitrust life review

Reviewed By: Rob Pinner

Rob Pinner Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

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Fact Check By: Holly Mitchell

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.

Purchasing life insurance is one of the most important investments one can make during their lifetime.

Equitrust life insurance company does not have the best ratings and product selection is limited.  They have some great single premium life insurance options available, but that is about it.

When examining the life insurance products available, it’s also important to ensure that you select the appropriate type of policy, as well as the proper amount of coverage for your particular situation.  You will find that Equitrust is very well known in the industry for their single premium indexed universal life insurance policies.

It’s wise to research the life insurance carriers that you are contemplating purchasing your policy through.  The life insurance company needs to be financially stable and reliable, and it should also have the reputation of paying its policyholders’ claims.  One such company that meets these standards is EquiTrust Life Insurance Company.

About EquiTrust Life Insurance Company

EquiTrust is considered one of the smaller life insurance and annuity providers in the insurance industry today.  The life insurance company works alongside Guggenheim Partners, which is a global advisory and investment company that purchased EquiTrust in October 2011 and manages the portfolio of EquiTrust Life Insurance products.

Headquartered in West Des Moines, Iowa, EquiTrust has over $14 billion in invested assets, most of which are regarded as investment grade (investment class of A or better) .  However, there are a small percentage of assets that are not considered investment grade.  This in itself can cause insurance rating agencies to be concerned with the company’s financial strength, especially during a decline of the market.

Ratings and The Better Business Bureau

EquiTrust Life Insurance Company is regarded as financially stable, and has therefore been awarded a “B++” by A.M. Best, and a “BBB+” by Standard & Poor’s.  EquiTrust’s comdex rating is 43.  Despite the fact that these ratings are considered “good”, many consumers prefer a company that’s rated “A” or better.  Additionally, the Better Business Bureau (BBB) has given the life insurance company an “A+” grade despite not being accredited.

EquiTrust Life Insurance Products

The life insurance policies provided by EquiTrust are all permanent in nature, which means that there is both a death benefit and a cash value component and include some type of accelerated benefits.  Currently there is no convertible term life insurance available. The cash value has the ability to grow and compound tax-free.  In fact, the only tax that will be due will be on the funds that are withdrawn by the insured.  Also, since there are no required medical exams or tests in order to gain coverage, most consumers will qualify for life insurance through EquiTrust.

The following is a brief overview of the products available through EquiTrust:

WealthHorizon™ Life

This life insurance policy is a single premium policy that provides both multi-asset index-linked and stock market earnings.  With competitive rates, the cash value is able to grow substantially over time.  Additionally, the policyholder is able to borrow against or withdraw from the cash value at anytime in order to take a vacation, supplement retirement, or even pay off any existing debt.

WealthMax Bonus Life®

This life insurance policy provides the insured the ability to get multi-asset index-linked earnings, as well as stock market earnings in the cash value.  It’s considered a single premium index life insurance policy, which means only one lump-sum payment is required for the policy to be deemed paid in full.  Additionally, there’s a 12% bonus added on top of all premiums and there is no medical exam required.

WealthSure™ Life

This is another single premium life insurance policy offered by EquiTrust.  However, there is a specified rate of return which is set by the provider, EquiTrust themselves.

WealthPay™  Life

This is a fixed premium life insurance policy, which means the premiums will be paid either annually or monthly by the insured.  As with the other policies mentioned, this policy’s return is based on the performance of the stock market or the underlying market index.

EquiTrust Burial Insurance

When planning for the future, it’s crucial to consider all of your current and future financial commitments such as your mortgage, any personal debts, and any other living expenses that your loved ones would be responsible for after your passing.  However, funeral and other final expenses often get overlooked.  This could potentially cause financial hardship for your loved ones if it’s up to them to fund your funeral and other final expenses.  Currently, the cost of a funeral in the United States averages between $8,500 and $10,000.

Other Products and Services Offered

In addition to life insurance, EquiTrust also offers retirement annuities.  Annuities allow the policyholder to save money on a tax-deferred basis, as well as provide a guaranteed lifetime stream of income.   The four types of annuities offered by EquiTrust include:


The return on the funds with an index annuity is dependent on the performance of the underlying market index like the S&P 500.  When the index performs kindly, an excellent return is provided.  However, if the underlying market index performs not as well, the cash value will be credited 0%.  This is great because it allows for continuous principal protection regardless of how the market performs.  There are several index annuities available through EquiTrust.


Considered a multi-year annuity, EquiTrust’s Certainty Select allows the policyholder to lock in a rate of interest for 3, 5, 6, 8, or 10 years.  The interest rate is quite competitive to other annuities on the market.

Traditional Fixed Rate

Referred to as ChoiceFour® Annuity, this is a single premium tax-deferred annuity with a one-year reset interest rate annually.  There are four different contract variations available.


Known as the Confidence Income Plan, EquiTrust’s immediate annuity allows the policyholder to either receive their income now or later.  Additionally, it can be given over a specified number of years, or for the rest of your life.

The Bottomline

When searching for the best premium rates on life insurance, whether from EquiTrust or any other carrier, it’s always recommended that you consult an independent life insurance agency that can advise you on multiple insurance carriers.  This way you’ll be able to adequately shop and compare plans, coverages, and premiums of multiple life insurance companies.  Once you’ve reviewed all of your options, you will be confident in choosing the policy that works best for you and your budget.


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Frequently asked Questions

Does Equitrust get high ratings from the national rating services?

EquiTrust Life Insurance Company is regarded as financially stable and has therefore been awarded a “B++” by A.M. Best, and a “BBB+” by Standard & Poor’s.  EquiTrust’s Comdex rating is 43.  Despite the fact that these ratings are considered “good”, many consumers prefer a company that’s rated “A” or better.

Does Equitrust offer low-cost term insurance?

The life insurance policies provided by EquiTrust are all permanent in nature, which means that there is both a death benefit and a cash value component and include some type of accelerated benefits.  Currently, there is no convertible term life insurance available. 

Does Equitrust offer any annuity products?

Along with several permanent cash value insurance products, Equitrust offers four types of annuities to assist consumers with retirement planning:
Index Annuities
Fixed Rate (Traditional)

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