What to do when an EquiTrust account holder dies
Report the death to EquiTrust's Claims Department at 1-866-598-3692
Filing a death claim on a EquiTrust policy begins with notifying the Claims Department at 1-866-598-3692. Life insurance claims are separate from probate—proceeds transfer directly to named beneficiaries regardless of whether the estate goes through court. The timeline and documentation requirements depend on the policy type and cause of death.
Death claim process
To file a claim after an account holder's death, here is what EquiTrust requires:
Filing a claim
- Deferred annuity (MarketPower, MarketTen, MarketValue, MarketSeven, MarketFive, Certainty Select, ChoiceFour and Bridge): Annuity Claimant Statement, ET-2700
- The closed MarketEdge, MarketForce, MarketMax, MarketEarly and MarketFuture deferred annuities also use ET-2700
- SmartBoost Index: Claim Form - SmartBoost Annuity, ET-2700SBA
- Confidence Income Annuity (SPIA): Claim Form - Annuity - SPIA, ET-2701
- WealthMax Bonus Life and any other life policy: Life Policy Beneficiary Statement, ETL-CLAIM-2700 (the forms index also lists it as ETL-2700)
- ET-TRUST-2502 for a trust, or ET-TRUST-2502BRG for a trust on a Bridge contract
- ET-ENTITY-2503 for a charity or corporation
- ET-POACERT-2500 for an attorney-in-fact
- ETL-BENPOE-2710 for a life payment option
- ET-INHIRA for an inherited or stretch IRA election
- ET-BENE-DISC for disclaiming the benefit
Required Documents
- Completed claim form for the productOne per beneficiary: ET-2700 for a deferred annuity, ET-2700SBA for SmartBoost, ET-2701 for the Confidence Income SPIA, or Life Policy Beneficiary Statement ETL-CLAIM-2700 for a life policy.
- Death certificate of the contract or policy owner, listing the cause of deathOne for the whole claim. The claim forms ask for "one copy of a certified death certificate" and do not return originals; the Report A Death page asks for "one original death certificate".
- Due proof of deathA certified copy of an official death certificate, a certified copy of a court decree finding the death, or any other proof satisfactory to EquiTrust.
- U.S. Consular Report of the Death of an American Citizen, if the death occurred outside the United States
- Legible photocopy of the beneficiary's death certificate, for a beneficiary who died before the owner
- Government-issued identification for the beneficiary or claimant
- Contract or policy number and the deceased person's information
- Trustee Certification and the trust EIN, if a trust is the beneficiaryET-TRUST-2502, or ET-TRUST-2502BRG on a Bridge contract. The deceased person's Social Security number cannot be used as the trust's Tax ID.
- Court-certified executor or administrator appointment, or Letters Testamentary, for an estate claimSend the estate's own EIN with it; the deceased person's Social Security number cannot be used as the estate's Tax ID.
- Beneficiary Payment Option Election Form (ETL-BENPOE-2710), for a life insurance share over $2,000 taken under a payment option rather than a lump sum
- Power of Attorney Certification (ET-POACERT-2500) or Entity Certification (ET-ENTITY-2503), the first if an attorney-in-fact signs; the second for a corporation or charity beneficiary
- Copy of the legal document naming the court-appointed guardian or conservator, for a minor beneficiaryThe guardian or conservator signs the claimant statement in that capacity, and the Tax ID used is the minor child's.
- Inherited IRA Information Form (ET-INHIRA), when an Inherited IRA or Stretch IRA option is elected on a qualified contract
- IRS Form W-8BEN or Form W-8IMY, if the beneficiary is not a U.S. citizenForm W-8BEN for a natural person; Form W-8IMY plus a corporate resolution or bylaws for an entity.
Claims Contact
Website: Online portal →
Forms EquiTrust issues11
- Life Policy Beneficiary Statement (ETL-CLAIM-2700)
Completed by each beneficiary. Available to download.1
- Annuity Claimant Statement (ET-2700)
Completed by each beneficiary. Sent by the institution on request.2, 3
- Claim Form - SmartBoost Annuity (ET-2700SBA)
Completed by each beneficiary. Sent by the institution on request.3
- Claim Form - Annuity - SPIA (ET-2701)
Completed by each beneficiary. Sent by the institution on request.3
- Trustee Certification (ET-TRUST-2502)
Completed by the trustee. Available to download.4
- Trustee Certification for a Bridge contract (ET-TRUST-2502BRG)
Completed by the trustee. Available to download.5
- Entity Certification and Indemnification Agreement (ET-ENTITY-2503)
Available to download.6
- Inherited IRA Information Form (ET-INHIRA)
Available to download.7
- Power of Attorney Certification (ET-POACERT-2500)
Completed by the attorney-in-fact. Sent by the institution on request.8
- Beneficiary Payment Option Election Form (ETL-BENPOE-2710)
Sent by the institution on request.8
- Beneficiary Disclaimer Form (ET-BENE-DISC)
Sent by the institution on request.8
What happens to each kind of account3
- Annuity
A surviving spouse who is the sole primary beneficiary may elect Spousal Continuation and keep the annuity as their own, with its provisions, surrender charges and fees continuing for the rest of the term and the right to name new beneficiaries. Surrender charges may apply to annuity death benefits.8
On a non-qualified contract the options are Spousal Continuation (spouse only), Payout Option, 5-Year Deferral or Lump Sum. A trust beneficiary may take only a Payout Option, a 5-Year Deferral or a Lump Sum; an estate, corporation or other entity may take only a Lump Sum.8
Under a 5-Year Deferral, a lump sum is available at any time before the fifth anniversary. A trust beneficiary's Payout Option is fixed at 5 years.2
- IRA
On a qualified (IRA) annuity contract the options are Inherited IRA, Inherited Roth IRA, Stretch IRA, Payout Option, 10-Year Deferral, 5-Year Deferral, Lump Sum and, once the contract is out of its surrender-charge period, an Internal Transfer (not for the Confidence Income immediate annuity).8
EquiTrust's Inherited/Stretch IRA guidance references the Election to Stretch/Inherit form (ET-2536) and the IRA Beneficiary Guideline (ET-IRABENEGUIDELINE). Sales of new Inherited/Stretch IRA cases are suspended, but existing elections are still processed.9
- Life insurance policy
A share of life insurance proceeds over $2,000 may be taken under a payment option with Form ETL-BENPOE-2710. A share under $2,000 is paid only as a lump-sum check.8
State requirements EquiTrust statesNew Mexico
- New Mexico
New Mexico claims use the New Mexico versions of the claim forms: ET-2700NM, ET-2700SBA-NM, ET-2701NM and ETL-2700NM.3
What EquiTrust's agreement and guidance say3
- How proceeds are paid
Death benefits are paid on receipt of due proof of death, and interest accrues from the date of death at the rate that applies to the contract. The payout election and the tax-withholding election are irrevocable once the claim is processed, and death proceeds cannot be returned.8
Payout Option installments are sent by EFT only. Lump Sum proceeds are paid by physical check, and EFT is not available for a lump sum. A beneficiary who is not a U.S. citizen may take only a Lump Sum.8
- What it says about taxes
EquiTrust says that for a beneficiary who is not a U.S. citizen, up to 30% of the gain or interest is withheld unless a treaty rate applies and a U.S. TIN is supplied.8
- Indemnity a claimant may have to give
If the original policy cannot be found, the claimant completes the Lost Policy section of ETL-CLAIM-2700, certifying that the policy was not assigned, hypothecated or pledged and agreeing to indemnify EquiTrust.1
Sources9
- 1.Life Policy Beneficiary Statement (ETL-CLAIM-2700), rev. 04-25
- 2.Annuity Claimant Instruction Guide
- 3.Forms
- 4.Trustee Certification (ET-TRUST-2502)
- 5.Trustee Certification, Bridge contracts (ET-TRUST-2502BRG)
- 6.Entity Certification and Indemnification Agreement (ET-ENTITY-2503)
- 7.Inherited IRA Information Form (ET-INHIRA)
- 8.Report A Death
- 9.Death claim procedures on Inherited/Stretch IRAs
Claims are typically processed within 30 to 60 days of receiving all required documents.
EquiTrust's Claims Department can be reached by phone at 1-866-598-3692, email at Customer.Service@EquiTrust.com, and fax at 1-515-226-5101 for questions throughout the claims process.
Sources
Data sourced from EquiTrust primary sources (28 pages reviewed). How we research.
EquiTrust death claims support
Claims Department
Phone
Toll-free
Trust and estate claims
Fax
Hours
Mailing address
Website
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