Is EquiTrust a Good Insurance Company?
Is EquiTrust a Good Insurance Company?
Jason Stolz CLTC, CRPC, DIA, CAA
EquiTrust Life Insurance Company is an annuity-focused carrier with a wide product lineup, competitive bonus FIA designs, and a specialized focus on retirement accumulation and income. The company is probably best known among independent agents for the depth of its fixed indexed annuity lineup — eight distinct products covering everything from pure accumulation MYGAs to bonus-heavy FIAs with income riders and LTC-linked multipliers. If you are researching EquiTrust, you are almost certainly evaluating one of those annuity products, and the honest evaluation requires holding two things in mind simultaneously: EquiTrust’s products are genuinely competitive, and its AM Best financial strength rating sits below the threshold that some advisors require. At Diversified Insurance Brokers, Jason Stolz, CLTC, CRPC, DIA, CAA, evaluates EquiTrust products the same way we evaluate every carrier — by comparing the specific contract, at the specific premium and term, against the full competitive market.
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Company Snapshot
| Category | Details |
|---|---|
| Headquarters | Chicago, Illinois; annuity-focused carrier distributed exclusively through independent insurance agents |
| AM Best Rating | B++ (Good) FSR — affirmed, stable outlook; Long-Term ICR most recently downgraded to “bbb” (from “bbb+”) reflecting weak capital adequacy ratio, high asset concentration, and high dividend payouts to the holding company |
| S&P / Fitch | A- (Strong) from both S&P and Fitch — stable outlooks; stronger than the AM Best designation on a cross-agency basis |
| Comdex Score | ~50 — places EquiTrust in the middle of the rated insurer universe |
| Assets | Over $23 billion on a statutory basis |
| Ownership | Magic Johnson Enterprises acquired a controlling interest; Ward’s 50 top-performing insurer for ten consecutive years through the most recently analyzed period |
| NAIC Complaint Index | 0.21 — well below the industry average of 1.00; far fewer annuity complaints than expected for its size |
| Products | Fixed MYGAs (Certainty Select), eight FIA products (MarketFive, MarketSeven, MarketTen, MarketForce, MarketPower, MarketMax, MarketValue, MarketTen), WealthMax Bonus Life (single premium IUL); no term life |
The AM Best Rating: Reading It Carefully
The AM Best rating situation at EquiTrust deserves a careful read because the two components tell slightly different stories. The Financial Strength Rating — the number most consumers and agents reference when asking “what is the rating?” — is B++ (Good), affirmed with a stable outlook. That is AM Best’s seventh-highest tier, below the A- threshold most independent financial advisors use as a minimum for annuity recommendations. The Long-Term Issuer Credit Rating, a separate component, was most recently downgraded one notch by AM Best, reflecting concerns about a weak Best’s Capital Adequacy Ratio score, high concentration in riskier asset classes, balance sheet growth that has outpaced capital growth, and high dividend payouts from the insurance entity to its holding company. The stable outlook on the FSR means AM Best is not indicating an imminent further change — it is affirming the current position, not predicting a path downward. But the ICR downgrade is a transparency flag worth understanding.
The cross-agency picture is notably stronger. Both S&P and Fitch rate EquiTrust A- (Strong) with stable outlooks — placing the carrier solidly within the A-rated tier by those agencies’ standards. The disconnect between AM Best B++ and S&P/Fitch A- reflects differences in rating methodology and what each agency emphasizes. For most advisors, the AM Best rating carries the most weight in annuity carrier selection — but the A- ratings from two other major agencies provide a meaningful counterbalance. EquiTrust has also earned a place on Ward’s 50 — a recognition given to the top-performing US life and health insurers based on financial performance, safety, and consistency screens — for ten consecutive years through the most recently analyzed period. A NAIC complaint index of 0.21 means the company receives far fewer complaints than expected for its size, which is a genuine service quality positive. Our resource on what an AM Best rating means covers the full context for applying these ratings in carrier selection decisions.
The EquiTrust Annuity Lineup
EquiTrust’s product depth is one of its genuine differentiators. Most carriers have two or three FIA designs. EquiTrust has eight distinct FIA products plus a MYGA line, each targeting a slightly different client objective. That breadth means there is likely a product in the EquiTrust lineup for most FIA buyer profiles — but it also means the comparison work matters more, because evaluating “EquiTrust” as a single entity misses the meaningful differences between individual products.
On the fixed guaranteed side, the Certainty Select is EquiTrust’s MYGA offering — a straightforward multi-year guaranteed annuity for clients who want a locked rate for a defined term without indexed crediting complexity. Our full product review of the EquiTrust Certainty Select covers the term options, rate structure, emergency access provisions, and how it compares in the MYGA market. For clients interested in MYGA rates across the full market, our resource on best MYGA annuity rates covers the competitive landscape.
In the FIA accumulation category, the MarketFive and MarketSeven are built for clients who want indexed growth potential with principal protection over a defined surrender period. The MarketSeven in particular is known for multiple custom index options that allow clients to select crediting strategies aligned with their market outlook and risk tolerance. The MarketMax is designed for clients who want to maximize indexed upside participation with downside protection — a product for clients comfortable with the indexed structure and prioritizing growth over income. Our resource on what a fixed indexed annuity with an income rider is covers how the FIA structure works before income riders are added, which is the foundation for evaluating any of EquiTrust’s income-focused designs.
The bonus FIA products are where EquiTrust generates significant interest from agents and clients. The MarketForce Bonus offers an upfront premium bonus alongside indexed growth — a structure where the carrier credits an immediate percentage to the account value at contract issue. The MarketPower Bonus adds income multipliers to the bonus structure, designed for clients who want both the upfront boost and a path to enhanced guaranteed lifetime income. The MarketTen Bonus extends the surrender period alongside the premium bonus — typically offering a higher bonus in exchange for a longer commitment. Our resource on whether annuities have fees covers how bonus annuity structures work financially — including the trade-offs in surrender schedules and vesting that make the bonus worth evaluating carefully rather than taking at face value. The MarketValue is EquiTrust’s income-focused FIA, designed specifically for clients whose primary objective is a guaranteed lifetime withdrawal benefit rather than accumulation. Our resource on what an income annuity benefit base is covers the mechanics of how income bases accumulate and translate into guaranteed withdrawal amounts — essential reading before comparing income rider designs across carriers.
Life Insurance: One Product, Clearly Positioned
EquiTrust offers one life insurance product: WealthMax Bonus Life, a single premium indexed universal life policy. This is not a term life carrier or a traditional permanent life carrier — it is a single premium IUL designed for clients who want to reposition a lump sum into a tax-advantaged life insurance structure with cash value accumulation and a death benefit. If you are looking for term life coverage, need traditional whole life, or want a regular-premium permanent policy, EquiTrust does not offer those products and you will need to look at a different carrier. Our resource on life insurance as an investment alternative covers the financial mechanics of cash value life insurance products like WealthMax, and our resource on common objections to annuities covers the competing arguments clients often weigh when deciding between annuity and life insurance structures for retirement accumulation.
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Who EquiTrust Fits — and Who Should Look Elsewhere
EquiTrust makes the most sense for clients who are comfortable with a B++ AM Best rating (noting the A- from S&P and Fitch), value product breadth and bonus FIA design, and are placing amounts within state guaranty association coverage limits. The NAIC complaint index of 0.21 and ten consecutive Ward’s 50 recognitions are genuine service and performance positives that partially offset the AM Best concern. The bonus FIA products — particularly the MarketForce, MarketPower, and MarketTen — are among the more aggressively structured bonus designs in the independent market and are worth including in any bonus annuity comparison. Our resource on the hidden risks of not using an annuity in retirement covers why a carrier comparison — rather than avoiding annuities altogether — is the right framework, and our resource on laddering fixed annuities for retirement income covers how EquiTrust’s shorter-term MYGA products can be deployed alongside longer-term FIA products in a coordinated accumulation strategy.
EquiTrust is not the right fit for clients who require A-rated or higher AM Best status across all agencies, those placing amounts above guaranty association coverage limits, or those needing any life insurance product beyond the single premium IUL. For those situations, a comparison against carriers like Athene, North American, and Allianz will surface A-rated alternatives with competitive FIA and income rider designs. Our resource on why annuities are the best pension replacement for today’s retirees covers the retirement income planning context within which most EquiTrust annuity decisions are made, and our resource on annuities overview provides the foundational framework for any carrier evaluation.
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Frequently Asked Questions: Is EquiTrust a Good Insurance Company?
What is EquiTrust’s AM Best rating and why does it matter?
EquiTrust holds an AM Best Financial Strength Rating of B++ (Good) with a stable outlook — the seventh highest of thirteen categories. AM Best most recently downgraded the Long-Term Issuer Credit Rating one notch, citing a weak Best’s Capital Adequacy Ratio score, high concentration in riskier asset classes, balance sheet growth outpacing capital growth, and historically high dividend payouts from the insurance entity to its holding company. The B++ FSR sits below the A- minimum that many independent financial advisors use for annuity carrier recommendations. However, both S&P and Fitch rate EquiTrust A- (Strong) with stable outlooks — placing it within the A-rated tier by those agencies’ standards. The practical implication: for amounts within state guaranty association coverage limits, the B++ AM Best rating combined with A- from two other agencies is a manageable trade-off for many clients. For amounts above guaranty limits, a higher-rated carrier is advisable. EquiTrust has also earned a place on Ward’s 50 top-performing insurers for ten consecutive years through the most recently analyzed period, reflecting consistent financial performance and safety screens beyond the single AM Best designation.
How many annuity products does EquiTrust offer and how do they differ?
EquiTrust offers over 16 annuity products across fixed and indexed categories. The Certainty Select series covers MYGAs — pure fixed-rate contracts for clients who want guaranteed growth without indexed complexity. The Market series covers eight distinct FIA products targeting different objectives: MarketFive and MarketSeven for accumulation-focused clients with medium surrender periods; MarketMax for clients prioritizing maximum indexed upside participation; MarketForce Bonus, MarketPower Bonus, and MarketTen Bonus for clients who want an upfront premium bonus alongside indexed growth (with varying surrender periods and bonus structures); and MarketValue for clients whose primary objective is guaranteed lifetime income through a GLWB rider. The product breadth is a genuine differentiator — most carriers offer two or three FIA designs. EquiTrust’s depth means there is likely a product that fits most FIA buyer profiles. The trade-off is that the comparison work matters more, because choosing the right EquiTrust product requires evaluating each design’s surrender schedule, bonus vesting, crediting options, and income mechanics individually rather than treating the carrier as a single product.
What should I know about EquiTrust’s bonus FIA products before buying?
EquiTrust’s bonus FIA products — MarketForce Bonus, MarketPower Bonus, and MarketTen Bonus — credit an upfront premium bonus to the account value at contract issue, which can be a meaningful starting advantage if the product is held to maturity. The key things to understand before committing: bonus vesting schedules (the full bonus may not be immediately “owned” — part of it may be forfeited if the contract is surrendered in early years), surrender charge periods (bonus products typically carry longer surrender periods than non-bonus products, often seven to ten years), and how the bonus interacts with the underlying crediting strategy and any income rider fees. The headline bonus percentage is not the same as the guaranteed return. A product that credits a large upfront bonus but carries higher annual fees or longer surrender commitments may produce a lower net result over the actual holding period than a non-bonus product from a different carrier. The comparison must include the full contract economics — bonus, fees, crediting potential, and surrender schedule — not just the bonus figure. Our resource on whether annuities have fees covers how fees interact with bonus structures in FIA contracts.
Does EquiTrust offer life insurance?
EquiTrust offers one life insurance product: WealthMax Bonus Life, a single premium indexed universal life policy. It is designed for clients who want to reposition a lump sum into a tax-advantaged structure with a death benefit and cash value accumulation — not for clients who need ongoing coverage funded with regular premium payments. EquiTrust does not offer term life insurance, traditional whole life, or regular-premium universal life. If term life coverage or traditional permanent life insurance is what you need, you will need to evaluate other carriers. WealthMax Bonus Life fits a specific planning situation — typically clients with a lump sum they want in a life insurance structure for estate or legacy purposes — rather than the income replacement or protection planning that most life insurance purchases address. Our resource on life insurance as an investment alternative covers the financial mechanics and planning use cases for single premium life insurance products.
How is EquiTrust’s customer service?
EquiTrust does not appear in the J.D. Power US Individual Annuity Study, so there is no ranking data from that source. The NAIC complaint index for EquiTrust is 0.21 — well below the industry average of 1.00 — meaning the company receives significantly fewer complaints than expected for its size. The BBB gives EquiTrust an A+ rating, reflecting strong complaint resolution track record, though EquiTrust is not BBB-accredited. Some third-party review aggregators do note consumer complaints filed through the BBB, but the volume relative to the carrier’s policy count appears modest. The overall picture is better than average on complaint data, without a J.D. Power ranking to confirm or contradict that signal. For clients who prioritize verified service quality data, the absence of a J.D. Power ranking means the complaint index is the primary third-party service metric available — and at 0.21, it is a favorable one.
Should I compare EquiTrust against other carriers before deciding?
Always. EquiTrust’s FIA product lineup is broad and competitive — but whether a specific EquiTrust product is the best choice for your premium, term, income objective, and risk tolerance requires a head-to-head comparison against what the full market currently offers. This matters especially for bonus FIA products, where the upfront bonus headline can obscure meaningful differences in total contract economics. A multi-carrier comparison for an income-focused FIA, for example, would typically include EquiTrust’s MarketValue or MarketPower alongside income designs from Allianz, Athene, North American, and other carriers — comparing income base growth rates, payout percentages by age, rider fee structures, and surrender flexibility simultaneously. Our resource on common objections to annuities covers the most frequent hesitations clients bring to the comparison — many of which resolve when the right product is matched to the right objective at the right carrier. Our resource on what a fixed indexed annuity with an income rider is builds the foundation for evaluating any income-rider comparison, including EquiTrust’s designs.
About the Author:
Jason Stolz, CLTC, CRPC, DIA, CAA and Chief Underwriter at Diversified Insurance Brokers (NPN 20471358), is a senior insurance and retirement professional with more than 25 years of real-world experience helping individuals, families, and business owners protect their income, assets, and long-term financial stability. As a long-time partner of the nationally licensed independent agency Diversified Insurance Brokers, Jason provides trusted guidance across multiple specialties—including fixed and indexed annuities, long-term care planning, personal and business disability insurance, life insurance solutions, Group Health, Travel Medical and Evacuation Insurance, and short-term health coverage. Diversified Insurance Brokers maintains active contracts with over 100 highly rated insurance carriers, ensuring clients have access to a broad and competitive marketplace.
His practical, education-first approach has earned recognition in publications such as VoyageATL, and contributions from his agency featured in Kiplinger and GoBankingRates— highlighting his commitment to financial clarity and client-focused planning. Drawing on deep product knowledge and years of hands-on field experience, Jason helps clients evaluate carriers, compare strategies, and build retirement and protection plans that are both secure and cost-efficient. Visitors who want to explore current annuity rates and compare options across multiple insurers can also use this annuity quote and comparison tool.
Review More Carrier Reviews: Browse our complete Annuity Company Reviews — covering Allianz, Athene, Jackson National, North American, and more annuity carriers.
Last Reviewed: June 21, 2026 |
Reviewed by: Jason Stolz, CLTC, CRPC, DIA, CAA
Chief Underwriter, Diversified Insurance Brokers, Inc. | NPN: 20471358 | Diversified Insurance Brokers, Inc. — Licensed in all 50 states
Fact Checked by: Tonia Pettitt, CMIP©
Medicare Specialist, Diversified Insurance Brokers, Inc. | NPN: 14374308 | Diversified Insurance Brokers, Inc. — Licensed in all 50 states
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