MarketMax IndexTM Annuity@headingTag>
A Flexible Premium Fixed Index Deferred Annuity. Rate Buy-Up feature provides higher cap and participation rates in exchange for a 1% annual fee. Product contains a Fixed-Rate Account and a variety of Index Accounts.
0 – 80 age last birthday (all Owners and Annuitants)
1-Year Interest Account
The fixed rate is guaranteed for one contract year. On contract anniversaries the rate may change subject to the contractual Minimum Guaranteed Interest Rate. All subsequent premiums received are applied to this account until the contract anniversary, then allocated per your instructions.
S&P 500® Index Accounts
Index Credits will be added to the account at the end of each indexing period. Index Credits will never be less than zero.
Declining surrender charge - based on a 10-Year Schedule. Percentage of the Accumulation Value by contract year: 9, 8, 7, 6.5, 5.5, 4.5, 3.5, 2.5, 1.5, 0.5%. Surrender charges may vary by state. Applies to partial withdrawals in excess of the free-withdrawal amount. In the event of a full surrender, applies to accumulation value and any free withdrawals in the same contract year.
After the first contract year, up to 10% of the accumulation value on the previous contract anniversary may be withdrawn each contract year without surrender charge or MVA.
Upon death of owner, accumulation value.
Nursing Home Waiver
After the first contract year, surrenders are not subject to surrender charges or MVA in the event of nursing home confinement of owner for 90 days. There is no charge for this rider.
Terminal Illness Rider
If the owner of the contract is diagnosed with a terminal illness, surrender charges and MVA are waived for a withdrawal of up to 75% of the accumulation value. There is no charge for this rider.
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Surrender of the contract may be subject to surrender charges or market value adjustment. Withdrawals before age 59½ may result in a 10 percent IRS penalty tax. Withdrawals do not participate in index growth. In the event of a full surrender, charges will apply to any penalty-free amounts taken during the same contract year. The surrender charge period and surrender charges may vary by state. Guarantees expressed are based on the claims paying ability of EquiTrust Life Insurance Company. EquiTrust cannot give legal, tax or accounting advice. Your personal tax advisor can provide important information with respect to the purchase of this annuity contract and its taxation.
This brochure briefly highlights EquiTrust Life Insurance Company’s MarketMax Index annuity contract and its benefits. Contract issued on Form Series ICC12-ET-EIA-2000(01-12) or ET-EIA-2000(06-04). Riders issued on Form Series ICC17-ET-FIXED-MVA(02-17) or ET-IMVA(03-16); ICC18-430-NHW(06-18) or 430-NHW(08-03); ICC16-ET-TI(10-16) or ET-TI(10-16). Index accounts issued on Form Series ICC19-ET-P2P(05-19) or ET-P2P(05-19); ICC19-ET-P2P-F(05-19) or ET-P2P-F(05-19); ICC19-ET-1PP-F(05-19) or ET-1PP-F(05-19); and ICC19-ET-1PP(05-19) or ET-1PP(05-19).