Indexed life insurance with four index-linked crediting options
- Index Credits will be added to the account at the end of each indexing period. Index credits will never be less than zero.
- The initial face amount is the single premium multiplied by the face amount factor applicable to the insured’s age, gender and tobacco usage.
The Death Benefit is the greater of the face amount and the Accumulation Value multiplied by the Minimum Death Benefit Factor, 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.
Accumulation Value is based on current interest, index crediting, current cost of insurance (COI) rates, policy expense charge, and the policy fee, but will never be less than the minimum guaranteed cash value provided with the policy.
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.
- 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 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.
- Applicants with certain pre-existing conditions are uninsurable and will not be considered for this policy.
Taxation/Modified Endowment Contract
Most WealthHorizon Life 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.
1-Year Interest Account
The fixed rate is guaranteed for one policy year. On policy anniversaries the rate may change subject to the contractual Minimum Guaranteed Interest Rate.
S&P 500® Index Accounts
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Neither Barclays Bank PLC, or Barclays Capital Inc., nor any affiliate (collectively “Barclays”) is the issuer or producer of WealthHorizon Life – an index life insurance policy – (“the policy”) and Barclays has no responsibilities, obligations or duties to investors in the policy. The Barclays Focus50 Index (“the Index”) including as applicable any component indices that form part of the Index is a trademark owned by Barclays Bank PLC, or Barclays Capital Inc., and licensed for use by EquiTrust Life Insurance Company (“EquiTrust”) as the Issuer of the policy. While EquiTrust as the issuer of the policy may for itself execute transaction(s) with Barclays in or relating to the Index in connection with the policy investors acquire the policy from EquiTrust and investors neither acquire any interest in the Index nor enter into any relationship of any kind whatsoever with Barclays upon making an investment in the policy. The policy is not sponsored, endorsed, sold or promoted by Barclays and Barclays makes no representation regarding the advisability of the policy or use of the Index or any data included therein. Barclays shall not be liable in any way to the Issuer, investors or to other third parties in respect of the use or accuracy of the Index or any data included therein.
Bloomberg Index Services Limited is the official index calculation and maintenance agent of the Index, an index owned and administered by Barclays. Bloomberg Index Services Limited does not guarantee the timeliness, accurateness, or completeness of the Index calculations or any data or information relating to the Index. Bloomberg Index Services Limited makes no warranty, express or implied, as to the Index or any data or values relating thereto or results to be obtained therefrom, and expressly disclaims all warranties of merchantability and fitness for a particular purpose with respect thereto. To the maximum extent allowed by law, Bloomberg Index Services Limited, its affiliates, and all of their respective partners, employees, subcontractors, agents, suppliers and vendors (collectively, the “protected parties”) shall have no liability or responsibility, contingent or otherwise, for any injury or damages, whether caused by the negligence of a protected party or otherwise, arising in connection with the calculation of the Index or any data or values included therein or in connection therewith and shall not be liable for any lost profits, losses, punitive, incidental or consequential damages.
The “S&P Multi-Asset Risk Control 5% Excess Return Index” and “S&P 500®” Indices (“Indices”) are products of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and have been licensed for use by EquiTrust Life Insurance Company (“the Company”). Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by the Company. The products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the Indices.
WealthHorizon Life is a single premium index life insurance policy issued by EquiTrust Life Insurance Company, West Des Moines, Iowa. Policy may vary by state. Policy issued on Policy Form Series ICC19-ETL-IUL-2000(01-19) or ETL-IUL-2000(01-19), with riders ICC17-ETL-FPW(01-17) and ICC11-ETL-ADBR(03-11), and interest/index accounts ICC17-ETL-1YRINT(01-17), ICC17-ETL-1YP2PCAP(01-17), ICC17-ETL-1YAVGPART(01-17) and ICC17-ETL-1YP2PPART(01-17). May not be available in all states. EquiTrust does not offer investment advice to any individual or agent and this material should not be construed as investment advice.