American Equity Annuities

American Equity currently offers fixed annuities, immediate annuities and fixed index annuities. Its fixed index offerings are the most robust.

There are four different series of fixed index annuities sold by American Equity: the IncomeShield, EstateShield, AssetShield and FlexShield.

The IncomeShield series is available in terms of seven or 10 years and includes access to a Wellbeing Benefit feature that can help to offset costs from health care expenses in retirement if you meet certain requirements. Multiple index options, strategies and payout choices are available.

The EstateShield series operates similarly but with a more robust death benefit. With an EstateShield annuity, your beneficiary can be paid a lump sum payment equal to 75% of the value of the contract.

The AssetShield series is another option geared specifically toward accumulation. A 10% bonus is available for any premium payments you make in the first year of the contract.

American Equity’s final fixed index annuity is the FlexShield. This 10-year annuity provides the highest level of customization, allowing customers to shape the product to best fit their needs.

In addition to its fixed index offerings, American Equity also sells fixed annuities and immediate annuities.

Its Guarantee Shield series of fixed annuities is available in terms of three or five years. These products are straightforward and advertise a lot of the industry standard benefits for fixed products, including terminal illness and nursing home riders, along with the ability to grow your money at a fixed rate.

Immediate annuities are also available through American Equity. These tend to be simple products that don’t vary much between companies.

David Noble founded American Equity as a private company in 1995 to sell life insurance and annuities to customers in Iowa. In 2003, he took the company public and issued an initial public offering through the New York Stock Exchange.

The company grew rapidly from there, achieving $8 billion in assets in 2004 and eclipsing $60 billion in 2021. It now serves clients in all 50 states and Washington, D.C.

American Equity currently is made up of three member companies: the original American Equity company, the Eagle Life Insurance Company and the American Equity Investment Life Insurance Company of New York. As of 2024, the company collectively has more than 500,000 clients.

American Equity is a financially stable company that holds favorable ratings from all major agencies.

The company has built a solid reputation through its national expansion over the last 20 years and has established itself as a secure and effective annuity provider.

American Equity has historically scored well in customer satisfaction. In recent years, though, it has seen a dip compared to some of its competition.

The company’s J.D Power Overall Customer Satisfaction Index Ranking has remained at a low position since 2023, though the score dropped from 800 in 2023 to 652 in 2024.

American Equity also ranks fairly well in the NAIC Complaint Index, which tracks customer complaints against companies. Its annuity score of 1.11 signals there aren’t many more complaints against the company than would be expected given its market presence.

When deciding whether to buy your annuity with American Equity, take the possible benefits into account.

One place where American Equity really shines is with its fixed index annuities. There are numerous products that can be helpful to customers, and breaking up offerings into different needs makes them especially useful.

The company offers a solid variety of products overall. Simpler options like fixed and immediate annuities are available as well.

As far as cons go, there aren’t any glaring issues to be aware of. American Equity has strong financial strength and a track record of customer satisfaction.