EFFECTIVE 10/1/2024 — CHANGES TO EQUITRUST INCOME BENEFIT RIDERS
The optional Income Benefit Riders (IBRs) on some EquiTrust fixed index annuities (FIAs) will soon be adjusted. Updated IBR features apply to contracts for applications received on or after October 1, 2024.
IBR updates:
MarketPower Bonus Index®
Now: 8.0% rollup rate up to 10 years
10/1: 6.0% rollup rate up to 10 years
MarketTen Bonus Index®
Now: 8.0% rollup rate up to 10 years
10/1: 6.0% rollup rate up to 10 years
MarketSeven Index®
Now: 25% Benefit Base bonus1 with 1.25% annual fee
10/1: 7% Benefit Base bonus1 with 1.25% annual fee
Transition rules
To receive the current IBR features, applications must be received by EquiTrust via mail, fax, E-Application or Upload a Doc no later than 5:00 p.m. Central time, Monday, September 30, 2024.
Disclosure forms and illustrations
Effective October 1, 2024, the revised product disclosures, as well as disclosure and comparison (D&C) forms are required. AppBuilder and the forms section on Agents.EquiTrust.com have been updated with the new versions of the forms. FireLight will be updated with the new versions of the forms on September 28.
Illustrations have been updated to allow selection of the current IBRs or the updated IBR features effective October 1, 2024.
Expiration of premium bonus special 9/30
Our 2%2 premium bonus special will expire on September 30, 2024. To receive the higher premium bonus before the special expires, applications must be received by EquiTrust via mail, fax, E-Application or Upload a Doc no later than 5:00 p.m. Central time on September 30, 2024.
Note: In California, the premium bonus for MarketForce Bonus Index®is being increased to 8% (from 7%), effective October 1, 2024.
