MarketForce Bonus IndexTM Annuity
A Single Premium Fixed Index Deferred Annuity with an 8% Premium Bonus on premiums paid in the first year. Rate Buy-Up feature provides higher cap and participation rates in exchange for a 1.50% annual fee. Product contains a Fixed-Rate Account and a variety of Index Accounts.
Applicant Ages
0 – 80 age last birthday (all Owners and Annuitants)
Minimum Premium
Initial minimum: $10,000; Subsequent minimum: $2,000.
Bonus
8% bonus on premiums paid in the first year, which are added immediately to the accumulation value. Bonus may vary by state.
Account Options
Fixed-Rate Account
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
1-Year Point-to-Point Cap Index Account
Index credits are based on the percentage change in the S&P 500 Index from the previous contract anniversary, up to a specified cap.
1-Year Point-to-Point Participation Index Account
Index credits are based on the percentage change in the S&P 500 Index from the previous contract anniversary, multiplied by the participation rate.
Barclays Focus50 Index Accounts More Info
1-Year Point-to-Point Participation Index Account
Index credits are based on the percentage change in the Barclays Focus50 Index from the previous contract anniversary, multiplied by the participation rate.
S&P MARC 5% Excess Return Index Account More Info
1-Year Point-to-Point Participation Index Account
Index credits are based on the percentage change in the S&P MARC 5% Excess Return Index from the previous contract anniversary, multiplied by the participation rate.
Index Credits
Index credits will be added to the account at the end of each indexing period. Index credits will never be less than zero.
Surrender Charge
Declining surrender charge based on a 10-year schedule. Percentage of the accumulation value by contract year: 16, 14.5, 13, 11.5, 9.5, 8, 6.5, 5, 3, 1%. Surrender charges may vary by state. Applies to partial withdrawals in excess of the free-withdrawal amount.
Market Value Adjustment (MVA)
Applied only when surrender charges are imposed. MVA not applicable in all states.
Penalty-Free Withdrawals
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.
Death Benefit
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.
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. 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 MarketForce Bonus Index annuity contract and its benefits. Contract issued on Form Series ICC19-ET-MP10-2000(02-19) or ET-MP10-2000(05-18). Riders issued on Form Series 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).