IncomeShield 7 (CA Only)
The American Equity Investment Life Insurance Company, founded in 1995, has been a leader in the annuity and retirement market for nearly three decades now. With a focus on empowering its clients to fulfill their retirement needs, the company is known to offer high-quality fixed indexed annuities, which balance protection and growth while guaranteeing a regular income stream. American Equity holds trustworthiness in high regard, striving to supply financial solutions well suited to their customers’ unique circumstances. Serving the domestic US market, their product distribution goes through independent advisors, banks, and broker-dealers.
IncomeShield 7 (CA Only)
Ratings:
- A.M. Best A-
- Fitch A-
- S&P A
- Comdex 58
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
1.7%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
2.75%
Cap
|
| 1-Year S&P 500 Dividend Aristocrats DRC 5% ER PTP Cap |
Point to Point
Annual
|
4.5%
Cap
|
| 1-Year S&P 500 Dividend Aristocrats DRC 5% ER PTP Participation Rate |
Point to Point
Annual
|
65%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
10%
Participation
|
| 1-Year BofA Destinations PTP Participation rate |
Point to Point
Annual
|
75%
Participation
|
| 1-Year SG Global Sentiment PTP Participation rate |
Point to Point
Annual
|
75%
Participation
|
| 1-Year UBS Tech Edge PTP Participation rate |
Point to Point
Annual
|
80%
Participation
|
| 1-Year BlackRock Adaptive U.S. Equity 5% PTP Participation Rate |
Point to Point
Annual
|
80%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 8% | 8% | 7% | 6% | 5% | 4% | 3% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| IncomeShield LIBR - CA Option 1 - 4.00% Rollup | Yes | |
| IncomeShield LIBR CA - Option 3 - 6.5% Rollup | Yes | 1.10% annually |
| IncomeShield LIBR CA Option 2 - 8.25% Rollup | Yes | 1.10% annually |
| IncomeShield LIBR - CA Option 4 - 8.25% Rollup & Wellbeing Rider | Yes | 1.20% annually |
| IncomeShield LIBR - CA Option 5 - 6.5% Rollup & Wellbeing Rider | Yes | 1.20% annually |
Waivers
Death
No Surrender Charges at Death
Premium Notes
- $5,000
- 40-69: $1,500,000
- 70-74: $1,000,000
- 75-80: $750,000
Additional premium payments can be added either lump sum or systematic whenever.
Note: TSP funds have to be rolled into an IRA.
Withdrawal Provisions
This is an opportunity each year (after the first contract year) to take Free Withdrawals up to 10% of the Contract Value. For Cumulative Withdrawals, American Equity allows 10% of the contract value after the 1st contract year. The free withdrawal percentage is never more than 10%.
Systematic Withdrawal of interest only from the Fixed Value, available after 30 days.
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