Quick answer

EquiTrust Life Insurance Company is a legitimate, Iowa-based insurer that's been issuing annuities since 1967. It's mainly known for fixed index annuities and MYGAs, and Magic Johnson Enterprises holds a minority stake. A 2023 Fitch outlook revision to negative is worth knowing about, but it doesn't mean the company is in trouble.

EquiTrust Life Insurance Company is a legitimate, Iowa-licensed insurer that has been issuing annuity contracts since 1967. Magic Johnson Enterprises holds a minority ownership stake — which explains why his name surfaces in searches — but EquiTrust runs its own day-to-day operations independently. The company is best known for fixed index annuities and MYGAs. A 2023 Fitch outlook revision to negative is worth knowing about before you buy, but it doesn’t mean the company is in trouble.

What Is EquiTrust and Who Owns It?

EquiTrust is a life insurer selling mainly fixed and indexed annuities plus life insurance, and it’s owned by Magic Johnson Enterprises.

EquiTrust Life Insurance Company Overview

EquiTrust Life Insurance Company is domiciled in West Des Moines, Iowa, and has been in the annuity business since 1967. It focuses almost entirely on accumulation products — mainly fixed index annuities and multi-year guaranteed annuities — rather than life insurance or health coverage. That narrow focus makes it easier to evaluate: you’re looking at one company doing one thing, not a sprawling conglomerate.

The company is licensed to sell in most U.S. states and distributes its products through independent agents and financial advisors rather than a captive sales force. If you bought an annuity through an independent agent in the last decade or so, there’s a decent chance EquiTrust was on the product menu.

Is EquiTrust Owned by Magic Johnson?

Not exactly. Magic Johnson Enterprises — the investment and business group led by NBA legend Earvin “Magic” Johnson — acquired a minority ownership stake in EquiTrust in 2012. That stake gives Magic Johnson Enterprises a seat at the table, but EquiTrust is not “Magic Johnson’s company” in any operational sense.

Magic Johnson Enterprises and the EquiTrust Connection

Magic Johnson Enterprises focuses on bringing quality financial and business services to underserved communities, and the EquiTrust stake fit that mission. The partnership has been used to expand access to financial products in markets that big insurance companies historically ignored. Magic Johnson’s name carries marketing weight, which is partly why it shows up when you Google EquiTrust.

If you’re wondering whether Johnson is running the actuarial team or setting annuity crediting rates — he’s not. EquiTrust has its own executive leadership and operates under the oversight of Iowa insurance regulators.

Is EquiTrust a Legitimate and Reputable Company?

Yes, EquiTrust is a legitimate company. It is licensed by state insurance departments, holds reserves per statutory requirements, and its contracts are backed by state guaranty associations (up to each state’s limit — typically $250,000 in annuity contract value). That’s the same safety net that backstops any licensed insurer in your state.

“Reputable” is a fair question, and the honest answer is: it has a decent track record but mixed consumer reviews and a recent ratings concern. More on that in the ratings section below.

EquiTrust Annuity Products

Fixed Index Annuities (FIA) from EquiTrust

EquiTrust’s flagship products are fixed index annuities. An FIA links your credited interest to the performance of a market index — usually the S&P 500 — without directly investing your principal in the market. You get upside potential with a floor of zero, meaning you won’t lose money when the index drops.

EquiTrust FIAs come in several flavors, including products with income riders for guaranteed lifetime withdrawals. If you’re planning for retirement income and want downside protection, a FIA is worth comparing against other carriers — but check the cap rates, participation rates, and spreads carefully, because those details determine how much of the index gain you actually capture.

Multi-Year Guaranteed Annuities (MYGA)

A multi-year guaranteed annuity from EquiTrust works like a CD: you lock in a fixed interest rate for a set term (typically two to seven years), and your money grows tax-deferred. There are no market-linked variables. At the end of the term, you can renew, withdraw, or roll to another product.

If you’re shopping for MYGA rates, comparing EquiTrust against top carriers is worth your time — if you’re looking to compare annuity rates and find the best current yield, checking multiple carriers side by side will show you exactly where EquiTrust lands on any given day.

EquiTrust Long-Term Care Annuity

EquiTrust offers an annuity with a long-term care benefit rider — sometimes called a hybrid or linked-benefit product. You fund it with a lump sum, your money grows, and if you need long-term care, the contract multiplies your benefit. If you never need care, your beneficiaries receive the account value. It’s not a standalone long-term care insurance policy, but it addresses the “what if I never use it?” objection that traditional LTC insurance gets.

EquiTrust Annuity Rates

EquiTrust annuity rates change regularly based on interest rate environments and internal crediting decisions. Rather than quoting a rate here that may be outdated by the time you read it, the most accurate approach is to request a current illustration from a licensed agent or use an online comparison tool. What matters is comparing the rate net of fees and charges — the headline number isn’t the whole story.

Can I Withdraw Money from an EquiTrust Annuity?

Yes, but there are rules. Most EquiTrust annuities allow a free withdrawal of up to 10% of the account value per year without surrender charges. If you withdraw more than that during the surrender period (which can run seven to twelve years depending on the product), you’ll owe a surrender charge that decreases over time.

If you’re under 59½, the IRS also charges a 10% early withdrawal penalty on top of ordinary income tax on the gain — the same rule that applies to IRAs and most deferred annuities.

EquiTrust Investments and Services Offered

Types of Investment Products Available

EquiTrust keeps its product line focused:

  • Fixed Index Annuities — accumulation and income products tied to indices
  • Multi-Year Guaranteed Annuities — fixed rate, set term
  • Long-Term Care Annuities — hybrid products with LTC benefit riders
  • Single Premium Immediate Annuities (SPIA) — immediate income stream after a lump-sum deposit (availability varies by state)

EquiTrust does not offer variable annuities (which involve securities risk), standalone life insurance, or health insurance.

Who Is EquiTrust Best Suited For?

EquiTrust products tend to fit:

  • Pre-retirees and retirees who want principal protection with some market-linked upside
  • People rolling over a 401(k) or IRA into a fixed product
  • Buyers looking for guaranteed income in retirement
  • Anyone wanting to address long-term care costs without pure LTC insurance

They’re probably not the right fit if you want variable investment options, low surrender-charge flexibility, or a household-name company with a massive branch network.

Magic Johnson Enterprises Jobs and Business Ventures

Magic Johnson Enterprises spans entertainment venues, Starbucks franchises, real estate, and financial services investments — EquiTrust is one piece. If you’re researching MJE for employment or other business reasons, note that most MJE ventures operate under separate entities and hire independently.

EquiTrust Login and Account Access

How to Log In to Your EquiTrust Account

Go to equitrust.com and look for the “Login” or “Policyholder” portal link in the top navigation. You’ll need your contract number and the credentials you set up when you registered. If you’ve never registered online, there’s an enrollment option that walks you through linking your contract.

EquiTrust Annuity Login Step-by-Step

  1. Navigate to equitrust.com
  2. Click the policyholder login link
  3. Enter your username and password (or click “Register” if it’s your first time)
  4. Once logged in, you can view your account value, recent transactions, and contract documents
  5. To update personal information or request withdrawals, follow the prompts within your account dashboard

If you forgot your password, use the “Forgot Password” link on the login page to reset via your registered email.

EquiTrust Login App for iOS and Android

As of this writing, EquiTrust does not offer a dedicated mobile app in the Apple App Store or Google Play. Policyholder account access is browser-based and mobile-optimized, so you can use it on a phone — just open your browser and go to the website directly.

EquiTrust Bridge Login for Agents

Agents who sell EquiTrust products access the producer portal through EquiTrust Bridge, a separate platform for submitting applications, checking commission status, and downloading marketing materials. The Bridge login is at a separate URL provided during agent onboarding. If you’ve lost access, contact your EquiTrust wholesaler or the agent services team.

EquiTrust Customer Service

EquiTrust Customer Service Phone Number and Hours

EquiTrust’s main customer service line is 1-866-598-3692. Hours are generally Monday through Friday, 7 a.m. to 6 p.m. Central Time. Call volume can be heavier early in the week, so midweek afternoons tend to mean shorter hold times.

EquiTrust Customer Service Email and Chat Options

EquiTrust’s primary service channel is phone. There is a contact form on equitrust.com for written inquiries. Live chat is not a standard feature of their platform. For complex questions about contract changes, withdrawals, or beneficiary updates, a phone call or written form submission is your best path.

How to Contact EquiTrust About an Annuity Complaint

If you have an unresolved complaint, your options are:

  1. Call customer service and ask to escalate to a supervisor
  2. Submit a written complaint through the contact form on the website
  3. File a complaint with your state’s Department of Insurance — regulators track complaints against licensed insurers and are often effective at prompting resolution
  4. Contact the BBB — while this doesn’t carry legal weight, companies often respond to avoid public records of unresolved complaints

EquiTrust Ratings and Reviews

EquiTrust Ratings Downgrade Explained

In 2023, Fitch Ratings revised its outlook on EquiTrust from stable to negative while affirming its underlying rating. An outlook revision is not the same as a downgrade — think of it as a yellow flag, not a red one. It signals that Fitch believes conditions could lead to a lower rating if the company doesn’t improve certain financial metrics.

For a policyholder, this means your existing annuity contract remains in force and state guaranty associations still provide their statutory backstop. But if you’re shopping for a new annuity, this is exactly the kind of thing you should weigh when comparing carriers.

Fitch and AM Best Rating History

AM Best has historically rated EquiTrust with a B++ (Good) financial strength rating — solid, but not at the top tier that “A”-rated carriers hold. Fitch’s negative outlook added a wrinkle to that picture. Neither rating suggests imminent insolvency, but both put EquiTrust a notch or two below the highest-rated carriers in the market.

If you want the very highest-rated annuity carrier, EquiTrust may not be your first pick. If you’re comfortable with a “Good” rating and want competitive index annuity products, it’s still a viable option.

EquiTrust Reviews: BBB, Consumer Reports, and Reddit

EquiTrust is accredited with the Better Business Bureau and holds a rating there, though BBB ratings don’t reflect investment performance or claims-paying ability — they mainly track complaint handling. On Reddit and consumer review sites, common themes include:

  • Surrender charge frustration from buyers who didn’t fully understand the terms at purchase
  • Questions about rate renewals and crediting strategy changes
  • Generally positive comments about initial product setup

Most complaints you’ll see online about annuities in general — not just EquiTrust — trace back to misunderstanding surrender periods. Read your contract carefully before you sign.

EquiTrust Annuity Complaints and How They Are Resolved

When complaints are filed with state departments of insurance, EquiTrust is required to respond within a set timeframe. Most complaints in the public record relate to surrender charges, which are contractual terms rather than errors. If you believe your contract was misrepresented at sale, your strongest recourse is the state insurance department or, in serious cases, an attorney who handles annuity suitability claims.

Frequently Asked Questions

Is EquiTrust owned by Magic Johnson?

No, Magic Johnson Enterprises holds only a minority stake, and EquiTrust runs independently with its own executives, keeping Johnson out of daily operations.

No — Magic Johnson Enterprises holds a minority ownership stake in EquiTrust Life Insurance Company, but EquiTrust operates independently with its own executive leadership. Magic Johnson is not involved in day-to-day operations, product design, or financial management. The partnership, which dates to 2012, was positioned as a way to expand financial product access in underserved communities.

Is EquiTrust a legitimate company?

Yes, EquiTrust is a licensed Iowa insurer, regulated by state insurance departments, holding statutory reserves, with contracts backed by state guaranty associations.

Yes. EquiTrust is a licensed insurer domiciled in Iowa that has been issuing annuity contracts since 1967. It is regulated by state insurance departments, maintains statutory reserves, and its contracts are backed by state guaranty associations up to each state’s coverage limits. There is no credible evidence suggesting EquiTrust is a scam or fraudulent operation.

Can I withdraw money from an EquiTrust annuity?

Yes, most contracts let you take up to 10% a year without surrender charges, though anything more during the surrender period gets charged.

Most EquiTrust annuities allow a free withdrawal of up to 10% of the account value per contract year without surrender charges. Withdrawals beyond that during the surrender period trigger a declining surrender charge. If you’re under 59½, the IRS also applies a 10% early withdrawal penalty plus ordinary income tax on gains. Check your specific contract for exact terms.

Who owns EquiTrust insurance company?

A private ownership group holds majority control of EquiTrust, with Magic Johnson Enterprises as its best known minority investor, and it isn’t publicly traded.

EquiTrust Life Insurance Company is privately held. Magic Johnson Enterprises acquired a minority stake in 2012 and is the most publicly recognized investor. The majority ownership and operational control rest with EquiTrust’s private ownership group. The company is not publicly traded.

Is EquiTrust a reputable company?

Reasonably so: EquiTrust holds a B++ from AM Best and over 50 years in business, though Fitch’s negative outlook is a caution flag.

EquiTrust has a mixed-but-reasonable reputation. It’s AM Best-rated B++ (Good) and has been in business for over 50 years. The 2023 Fitch negative outlook revision is a caution flag worth noting when comparing carriers. Consumer reviews are typical for annuity companies — mostly complaints about surrender charges, which are standard contract features, not company failures.

What are the tax implications of EquiTrust annuities?

Your gains grow tax-deferred, then get taxed as ordinary income when withdrawn, with a 10% IRS penalty on top if you’re under 59½.

Interest credited inside a non-qualified EquiTrust annuity grows tax-deferred until withdrawal. When you take money out, gains are taxed as ordinary income (not at capital gains rates). Withdrawals before age 59½ also face a 10% IRS early withdrawal penalty. Annuities held inside an IRA follow IRA tax rules, and qualified distributions may be fully taxable depending on your contribution basis.

What did the EquiTrust ratings downgrade mean for policyholders?

Nothing immediate: Fitch shifted its outlook to negative, not the rating itself, so your contract stays in force and guaranty association protection still applies.

Fitch’s 2023 revision was an outlook change to negative, not a full downgrade. For existing policyholders, nothing changes immediately — your contract stays in force and state guaranty associations still provide their statutory protection. The change signals that Fitch is watching certain financial trends and may lower the actual rating if conditions don’t improve. It’s more relevant to people shopping for a new policy than to existing contract holders.

How do I contact EquiTrust customer service?

Call EquiTrust weekdays, 7am to 6pm Central, or use its website’s contact form, and take unresolved problems to your state’s Department of Insurance.

Call EquiTrust at 1-866-598-3692, Monday through Friday, 7 a.m. to 6 p.m. Central Time. You can also submit a written inquiry through the contact form at equitrust.com. For unresolved issues, your state’s Department of Insurance is the most effective escalation path — insurers are required to respond to regulatory complaints within specific timeframes.

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