Eagle Life at a Glance: Rates, Products and Reviews

Under the umbrella of American Equity Investment Life Insurance Company is Eagle Life Insurance Company, an Iowa-based annuity provider. It is one of the most popular and highly-rated companies for fixed and fixed index annuities, boasting several flexible options available in multiple terms. Extended coverage protects against future emergencies, while tax-deferred growth and market safeguards help ensure regular growth.

If you are retirement planning, this is why Eagle Life annuities are worth a second look.

Eagle Life Insurance Company is a wholly-owned subsidiary of parent company American Equity Investment Life Insurance Company. American Equity deems itself The Financial Dignity Company. From its headquarters in West Des Moines, Iowa, it funds over half a million retirements nationwide.

It is a company that places a strong emphasis on customer service, and that shows in its own workforce. Collectively, they have over 800 employees, with the average employee working for the company more than five years.

Eagle Life Insurance Company is one of the smaller annuity providers available today. According to the National Association of Insurance Commissioners (NAIC), it holds a 0.8% market share. American Equity Investment Life Insurance Company is even smaller, cornering just 0.23% of the market.

Eagle Life offers fixed index annuities, including the Eagle Select Income Focus and Eagle Select Focus Series, allowing you to select your index and interest calculation method. These annuities feature penalty-free withdrawals, fund additions without extending surrender charges, tax-deferred growth and a Lifetime Income Benefit Rider for guaranteed lifetime income.

The Eagle Select Income Focus provides tax-deferred growth linked to an index, with two payment options: a 14% daily roll-up rate for payments within five years and a 12% rate for payments after five years. Surviving spouses can continue income payments, and the Wellbeing Benefit increases payments if you can’t perform at least two activities of daily living (ADLs).

The Eagle Select Focus offers two versions—Focus 5 and Focus 7—each with a minimum initial premium of $5,000 and multiple crediting strategies like the S&P 500 Index and Franklin Global Trends Index. You can enhance coverage with the Optional Performance Rate Rider, which increases participation rates without altering the surrender charge period. The Enhanced Benefit Rider, included for ages 75 and under, provides access to Nursing Care and Terminal Illness benefits after one year. Free withdrawals of up to 10% of contract value are allowed after the first year and a death benefit is included for the surviving joint owner.

Choose the Eagle Select Focus 5 for a shorter term or the Eagle Select Focus 7 for a longer contract.

Eagle Life offers a fixed annuity in the form of its Eagle Guarantee Focus Series. This allows you to benefit from tax-deferred growth based on a competitive set rate with the option for free withdrawal. There is the added bonus of market protection until withdrawals are taken.

The Eagle Guarantee Focus Series ensures guaranteed lifetime payments are safe from market volatility until a withdrawal is made. Tax-deferred growth provides additional protection, while the option for penalty-free withdrawals guarantees access to your funds when you need them. There may also be additional benefits should you be placed in a nursing home or become diagnosed with a terminal illness.

There are both three-year and five-year terms available, and a death benefit accompanies coverage. Also included is the market value adjustment (MVA) rider that adjusts the withdrawal amount exceeding the free withdrawal or surrender value. The Enhanced Benefit Rider (not available in California) is a no-fee annuity rider that includes both a Qualifying Nursing Care Benefit and Terminal Illness Benefit for greater protection.

Eagle Life annuities come with a stack of protections and benefits that vary based on the annuity you choose. Tax-deferred growth and market safeguards are built-in protections that come with flexible terms you can choose to best suit your finances. Other benefits include the Lifetime Income Benefit Rider and the Enhanced Benefit Rider to ensure you are protected against future outcomes.

Eagle Life Insurance Company is recognized for its strong financial health and stability. It holds an A- (Excellent) rating from AM Best, matching the score of its parent company, American Equity Investment Life Insurance. Fitch also assigns an A- rating.

In addition, Eagle Life annuities receive a slightly higher rating from S&P Global, earning an A for financial stability. Eagle Life Insurance Company does not disclose much about its financial practices. However, the NAIC reports almost $2 billion in annual premiums for its 0.8% market share.

Customer reviews and satisfaction are essential measures of a company’s reliability and performance. Eagle Life is recognized for its commitment to quality products and strong customer support, with many clients sharing positive experiences that reflect the company’s dedication to meeting customer needs and ensuring a positive overall experience.

While Eagle Life Insurance Company does not rate for customer service, parent company American Equity Investment Life Insurance does receive ratings from today’s top agencies.

Although Eagle Life is not rated in the J.D. Power 2023 U.S. Individual Annuity Study, American Equity does rate about average. Accordingly, there is no rating by the Better Bureau Business (BBB) for Eagle Life Insurance Company reviews. American Equity does receive an A+ rating, even though it is not BBB accredited.

Eagle Life shows an outstanding commitment to customer resolution and satisfaction based on its NAIC rating. It receives a 0.00 score of a benchline rating of 1.00, showing not a single complaint. It is outstanding and a true rarity among even the best annuities providers for retirement. It shows customers that their complaints are truly heard and prioritized by their annuity company when they choose Eagle Life annuities for their financial portfolio.

When considering annuities from Eagle Life, it’s important to weigh the pros and cons to make an informed decision. Assessing these factors will help you determine if Eagle Life’s annuities are the right fit for your financial goals.