EquiTrust Life Insurance Company 2022 Ratings

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states.
After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health insu…

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Reviewed by

Rachael Brennan

Licensed Insurance Agent

UPDATED: Feb 27, 2022

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Here's the Scoop

  • The EquiTrust Life Insurance Company is over 20 years old
  • EquiTrust only sells whole life insurance policies
  • EquiTrust life insurance policies can increase your cash flow

Money can’t buy happiness, but purchasing a life insurance policy can give your loved ones the gift of financial security if you were to pass unexpectedly. You can even use life insurance to provide yourself with more financial security while you’re alive.

There are many reputable life insurance companies in the market today that sell a wide variety of policies. With so many great options on the table, it can be difficult for consumers to find the best policy out of the bunch. Thankfully, plenty of free resources can help you shop for your insurance, like the EquiTrust Life Insurance Company ratings from customers and company watchdogs alike.

You can also use EquiTrust Life Insurance Company reviews like this one to help you discover the right life insurance company for your needs. EquiTrust is one of the best life insurance companies to increase your cash flow. Keep reading to learn more about this company and what it can offer you.

Table of Contents

What is the EquiTrust Life Insurance Company?

The EquiTrust Life Insurance Company first opened its doors for business in 1996. Today, its corporate headquarters is located in Chicago, Ill., where it actively gives back to the community. If you are looking for a company that supports positive action, you’ll be pleased to know that EquiTrust actively engages with the surrounding area to make it a better place for all who live there.

For example, EquiTrust employees are encouraged to fill their time with charitable exploits and donate funds to non-profits. EquiTrust even matches their employees’ charitable donations and pays employees for a day of volunteering during the year.

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Who owns the EquiTrust Life Insurance Company?

The EquiTrust Life Insurance Company has changed hands many times, but it has never faltered in its mission to provide high-quality life insurance products and annuities. The FBL Financial Group once owned EquiTrust, but Guggenheim Partners bought the company in 2011. Now, Magic Johnson Enterprises owns a large portion of the EquiTrust Life Insurance Company.

Is the EquiTrust Life Insurance Company highly rated?

If you’re a consumer who only wants to work with financially strong companies, you’ll be pleased with the EquiTrust life Insurance Company financial ratings:

Additionally, EquiTrust has an A+ from the Better Business Bureau. If you have any questions or concerns regarding your EquiTrust account, you can call 866-598-3692 or submit a message via an online form. You can also request a quote from the company online. However, you won’t be able to conduct an internet search for the EquiTrust stock price as this is not a publicly listed company.

What life insurance products does the EquiTrust Life Insurance Company offer?

The EquiTrust Life Insurance Company provides life insurance policies that allow its clients to increase their cash flow. EquiTrust currently offers three life insurance products. These include:

  • WealthSure Life
  • WealthMax Bonus Life
  • WealthPay Life

While all of EquiTrust’s policies can help you increase your wealth, each is unique. So let’s examine these policies closely to discover which one could be the best fit for your needs.

WealthSure Life

If you don’t want to worry about missing a payment on your life insurance, you may be intrigued by EquiTrust’s WealthSure Life insurance policy. This is a single-premium whole life insurance policy, which means that you’ll only need to make one payment to keep the policy active for your lifetime. To apply for this policy, you must:

  • Have access to at least $10,000
  • Be under 85 years old
  • Be an American citizen
  • Have a green card

WealthSure also accumulates cash value. You will be able to make partial withdrawals without facing penalty fees after the policy has been in place for a year.

WealthMax Bonus Life

The WealthMax Bonus Life policy can potentially grow since it is tied to a stock market index. This policy also comes with a graded return-of-premium rider, penalty-free withdrawals, and loans. You should also note that a WealthMax Bonus Life is typically issued as a Modified Endowment Contract.

With such policies, your loans, withdrawals, and surrenders are taxed as income first and could be subject to an additional federal tax penalty of 10% if made before the age of 59.

Applicants must be between the ages of 45 and 80. You will also need to make a payment of at least $10,000. Unfortunately, you can’t apply for this policy if you have any pre-existing health conditions.

WealthPay Life

You only need to make one payment to activate a WealthPay Life policy from EquiTrust. This policy stands apart because it is the combination of a life insurance policy and an annuity. The policy shares its initial payment with an annuity, but the return collected through the annuity is eventually returned to the life insurance policy.

Applicants must be between 60 and 80 to apply for this policy, which also features an Accelerated Death Benefit Rider, flexible premium allocation, and index credits.

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Are cheaper life insurance policies available?

While the EquiTrust Life Insurance Company ratings prove that this company offers reliable products and great customer service, many people can’t afford to pay $10,000 at the drop of a hat. Thankfully, if you need cheap life insurance to protect your loved ones, there are other life insurance products you can utilize.

One of the most popular types of life insurance policies for consumers on a budget is a term life insurance policy. Term life insurance policies only last for a set number of years, but you can get an immense amount of coverage at a very low rate, as you can see here:

10-Year Term Life Insurance Rates by Age

Age and gender Good health Average health
20, female $14 $18
20, male $17 $22
30, female $14 $19
30, male $17 $22
40, female $20 $27
40, male $22 $32
50, female $42 $54
50, male $51 $68
60, female $92 $113
60, male $123 $167
70, female $230 $298
70, male $380 $495
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Many insurance companies even offer term policies that can be converted into permanent coverage without the need to reassess your inseparability. This feature isn’t available with every term life insurance policy, though, so you should also read the fine print before putting any money down.

What You Need to Know About the EquiTrust Life Insurance Company

The EquiTrust Life Insurance Company may only be 25 years old, but its ratings indicate that purchasing a policy from this company could be a good investment for some consumers.

The company also has proven that its products can help consumers leave behind an immense financial gift for their loved ones and bring financial security to their own lives. It only offers three life insurance products, but if you are looking to increase your cash flow, an EquiTrust Life Insurance Company policy may be the right fit for your needs.

If you don’t have an extra $10,000 lying around, though, you may want to investigate other insurance companies that offer more affordable whole life insurance policies.

Consumers should always request life insurance quotes from at least three companies to ensure that they are picking the best policy for their coverage needs.