Secure SuiteLife™
Indexed life insurance with a 5% premium bonus, graded return-of-premium rider and four index-linked crediting options
Applicant Ages
- 45-85
Minimum/Maximum Premium
- $10,000 premium / Max: $750,000 face amount
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.
Face Amount
- The initial face amount is the single premium multiplied by the face amount factor applicable to the insured’s age, gender and tobacco usage.
Death Benefit
- The death benefit is the greater of the face amount less any loan balance, or the greater of either the accumulation value or minimum guaranteed contract value multiplied by the minimum death benefit factor applicable to the insured’s age, gender and tobacco usage, less any loan balance.
Accelerated Death Benefit Rider
- In the event of certain health conditions of the insured, a portion of the Death Benefit may be accelerated. The rider is available at no charge and is included with the policy automatically. Benefits may be accelerated for Terminal Illness, Nursing Care Confinement or Chronic Care.
Policy Values
- Accumulation value is based on current interest, index crediting, current cost of insurance (COI) rates, policy expense charge, and the policy fee.
Surrender Charges
The policy can be surrendered (fully or partially) at any time. Surrender in excess of a penalty-free withdrawal may be subject to a surrender charge on the accumulation value.
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 |
| Charge | 12% | 12% | 12% | 12% | 11% | 10% | 8% | 6% | 4% | 2% | 0% |
Graded Return-of-Premium Rider
- In the event of a full surrender, the owner will receive no less than the single premium multiplied by a factor, less any partial withdrawals or loan balance. Factors: Year 1 – 88%, Year 2 – 91%, Year 3 – 94%, Year 4 – 97%, Years 5+ - 100%.
Penalty-Free Withdrawals
- After the first policy year, owner may take a partial withdrawal up to 5% of the accumulation value without surrender charges each year. Withdrawals will reduce the face amount proportionally. One withdrawal per year; $25 fee per withdrawal.
Loans
- Loans are available from your policy. Loan interest rate is a declared interest rate. The maximum loan amount is the cash value less loan interest accrued to the next anniversary. A policy may become over-loaned and lapse if the loan is not repaid.
Pre-Qualification
- Applicants with certain pre-existing conditions are uninsurable and will not be considered for this policy.
Taxation/Modified Endowment Contract
- Most Secure SuiteLife policies are issued as a Modified Endowment Contract (MEC). For MEC policies, loans, withdrawals, and surrenders are distributed and taxed as income first, and may be subject to an additional 10% federal tax penalty if made prior to age 59½.
Account Options
1-Year Interest Account
- A one-year fixed interest rate is set when your policy is issued. The rate is reset annually.
S&P 500® Index Accounts
1-Year Point-to-Point Cap Index Account
- Percentage change in the S&P 500® from the previous policy anniversary, subject to an index cap. The index cap may change each year.
1-Year Monthly Cap Index Account
- Percentage change based on the cumulative sum of capped monthly S&P 500® changes over a one-year period, credited annually. Each of the monthly gains is subject to a monthly cap, but there is no floor for monthly declines. The monthly cap may change each year.
1-Year Monthly Average Participation Index Account
- Percentage change based on the average of monthly S&P 500® values over a one-year period, multiplied by a participation rate. The participation rate may change each year.
Goldman Sachs Dynamo Strategy Index Accounts More Info
Dynamo 1-Year Point-to-Point Participation Index Account
Percentage change in the Index from the previous anniversary, multiplied by a participation rate. The participation rate may change each year.
The Goldman Sachs Dynamo Strategy Index is sponsored by Goldman Sachs. Any crediting option and the terms related to any such crediting option may be modified or eliminated in the future.
Secure SuiteLife is not sponsored, endorsed, sold, guaranteed, underwritten, distributed or promoted by Goldman Sachs & Co. LLC or any of its affiliates with the exception of any endorsement, sales, distribution or promotion of this product that may occur through its affiliates that are licensed insurance agencies (excluding such affiliates, individually and collectively referred to as “Goldman Sachs”). Goldman Sachs makes no representation or warranty, express or implied, regarding the advisability of investing in life insurance products generally or in index life insurance policies or the investment strategy underlying this life insurance contract particularly, the ability of the Goldman Sachs Dynamo Strategy Index to perform as intended, the merit (if any) of obtaining exposure to the Goldman Sachs Dynamo Strategy Index or the suitability of purchasing or holding interests in this index life insurance policy. Goldman Sachs does not have any obligation to take the needs of the holders of this index life insurance policy into consideration in determining, composing or calculating the Goldman Sachs Dynamo Strategy Index.
GOLDMAN SACHS DOES NOT GUARANTEE THE ACCURACY AND/OR COMPLETENESS OF THE GOLDMAN SACHS DYNAMO STRATEGY INDEX OR OF THE METHODOLOGY UNDERLYING THE INDEX, THE CALCULATION OF THE INDEX OR ANY DATA SUPPLIED BY IT FOR USE IN CONNECTION WITH THIS INDEX LIFE INSURANCE POLICY. GOLDMAN SACHS EXPRESSLY DISCLAIMS ALL LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL DAMAGE EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.
“Goldman Sachs,” “Goldman,” and “Goldman Sachs Dynamo Strategy Index” are trademarks or service marks of Goldman Sachs & Co. LLC and have been licensed for use by EquiTrust Life Insurance Company for use in connection with certain index life insurance policies.
The S&P 500® Index is a product of S&P Dow Jones Indices, LLC. (“S&P DJI”) and has been licensed for use by EquiTrust Life Insurance Company. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services, LLC. (“S&P”). These trademarks have been licensed for use by S&P DJI and sublicensed for certain purposes by EquiTrust Life Insurance Company. Secure SuiteLife is not sponsored, endorsed, sold or promoted by S&P DJI, S&P, or any of their respective affiliates or third party licensors, and none of such parties make any representation regarding the advisability of purchasing Secure SuiteLife, nor do they have any liability for any errors, omissions, or interruptions of the S&P 500®.
The policy must be in force at the time of death to pay a death benefit. The death benefit will be reduced by any outstanding loan balance at the time of death. The death benefit is also reduced by any payment of Accelerated Death Benefits or partial withdrawals. EquiTrust cannot give legal, tax or accounting advice. Your personal tax advisor can provide important information with respect to the purchase of this policy and its taxation. Withdrawals are subject to a $25 fee. Withdrawals before age 59½ may be subject to an additional 10% federal tax penalty. Contract surrender charges may also apply. The policy will lapse if the loan balance exceeds the cash surrender value. A policy lapse may be a taxable event. This policy may be a “Modified Endowment Contract” (MEC) as defined by IRS section 7702A. Distributions including policy loans from a MEC may be treated as taxable income and subject to federal income tax penalty. Accelerated Death Benefits may vary by state, including waiting periods after issue date, exclusion of Nursing Care Confinement or Chronic Care benefits, Administrative fees, definitions of illness, or discount factors. Refer to the Accelerated Death Benefit Rider Disclosure included with the Application for Rider provisions in your state. Accelerated Death Benefits may be payable in the event of either terminal illness or chronic illness, but not both. Accelerated Death Benefits may be income-tax free. You should consult a qualified tax professional for information on how benefits received may impact your personal situation. Rider provisions, availability and definitions may vary by state. Guarantees expressed are based on the claims-paying ability of EquiTrust Life Insurance Company.
For Florida residents, a surrender charge will not be deducted if the insured qualifies under the Waiver of Surrender Charge Rider. Surrender or partial withdrawal is available without Surrender Charge if the insured is confined to a nursing home after the first policy year. Nursing care stay must be at least 90 consecutive days, and confinement expected to be permanent. Benefits are available after the policy has been inforce for a year.
Policy issued on Contract Form Series ICC17-ETL-IUL-2000(01-17) and ETL-IUL-2000(01-17) with riders ICC11-ETL-ADBR(03-11), ICC17-ETL-FPW(01-17), ICC17-ETL-MCSV(01-17), ICC17-ETL-PBR(01-17) and interest/index accounts ICC17-ETL-1YRINT(01-17), ICC17-ETL-1YRP2PCAP(01-17), ICC17-ETL-1YRMC(01-17), ICC17-ETL-1YAVGPART(01-17) and ICC17-ETL-YP2PPART(01-17). May not be available in all states. For costs and complete details of coverage, including any exclusions, reductions or limitations, and the terms under which the policy may be continued in force, contact your EquiTrust agent.