Muliple Premiums can be HELD to achieve clients' allocation strategies.

Do you have new EquiTrust EIA contract holders who intend to pay multiple premiums into the contract at the time of application?  If so, you need to read this.

All EquiTrust Life Index Annuity contracts state that, "All premiums after the initial premium will be allocated to the Fixed Account at the time of receipt.  On each Contract Anniversary, the Accumulated Value associated with any premium received since the prior Contract Anniversary will be reallocated among the Accounts according to Your most recent instructions."  

If your clients would like for EquiTrust Life to hold issuing the contract until all specified premiums are received--for purposes of allocating these premiums among the indexed accounts--an authorization form for this purpose must be signed by the client and must accompany the application.  The form, "Authorization to Hold Issue for Multiple Premiums" is form number ET-2504.  The form has been incorporated into AppBuilder.    

We will not reissue a contract for purposes of reallocating multiple premiums, so if this is your clients' intent, including this form with the application is critical.

The contract effective date will be the date the final premium is received at EquiTrust Life.

Commissions will be paid when the contract is issued.