EquiTrust Single Premium Life Product Sales Suspended Temporarily
Effective 9/30/21, EquiTrust has temporarily suspended Single Premium Life Product Sales. New applications for life business must be received by 9/30/21 and issued by 12/31/21.
New applications for single premium life products (WealthMax Bonus Life and WealthHorizon Life) must be submitted, and telephone interviews completed by 9/30/21; policies must be issued by 12/31/21.
The temporary suspension of these products is due primarily to IRC section 7702 and the 1/1/22 implementation of the Consolidated Appropriations Act of 2021, where minimum interest rates associated with the Minimum Guaranteed Cash Values, Cash Value Accumulation Test (CVAT), and the Guideline Premium Test (GPT) will be lowered. The legislation will have no impact on inforce policies.
Applications received on or before this date will be processed and must be issued by 12/31/21. All inforce single-premium life policies will continue to be serviced by EquiTrust; the legislation will have no impact on inforce policies.
If you have a Life Insurance Agent Contract with EquiTrust, your contract will remain active. Website access to inforce life business will continue with your current login credentials as long as your contract is active.
AIP Marketing Alliance is passing this information along to our valued wholesalers and agents who sell SPL products. If you are looking for a carrier with single premium life, please contact our Business Development team at (800) 783-5206 Press #2 or email firstname.lastname@example.org.
Latest PostsSupporting the Red Nose Day Campaign for ChildrenMay 2023 It’s Annuity Awareness Month! Let’s Sell Some Annuities!June 2023 Casual for a Cause Donations Benefit Five Local CharitiesMay 2023
TagsEthos Culture Legal And General Nationwide Wink Coronavirus Covid 19 Life_Insurance Fixed Annuity Genworth Integrity Marketing Group Transamerica Aipma Regional Director Tips Tax Season American Equity Web Meetings Equitrust Disability_Insurance Foresters Financial Women Financial Planning Myga Aig Long_Term_Care Regulations Webinars Annuity Covid19 Open Enrollment Drop Ticket Holiday Protective Iul Lincoln Financial Group Securian Financial Working From Home Mental Health Integrity Ira Corebridge Financial Leads Term Life Insurance Job Posting Retirement Planning Roth Ira Tickit Bestow Social Media Fixed Indexed Annuity Nafa Carriers Fidelity Guaranty Life Senior Health Shop North American Indexed Universal Life Medicare_Supplements Charity Insurance Fraud Global Atlantic Limra Myaip Secure Act Final Expense Permanent Life Insurance Taxes
2041 E. Square Lake Road, Suite 100, Troy, Michigan 48085-3897
For more than 40 years, AIP Marketing Alliance (AIPMA) serves as a premier life insurance and annuity distribution partner to provide full-service support to independent wholesalers, brokerages and agents from our Troy, Michigan office. Copyright 2023