Company Information
Company Name
American Equity
Product Name
American Equity GuaranteeShield 5
Description
The GuaranteeShield 5 is a single-premium, fixed annuity with a five-year rate guarantee. After five years, owners have a 30-day window to withdraw, transfer, or reinvest the full account value. If no action is taken, the contract will automatically continue with an annual rate guarantee and no surrender penalties.
This policy offers three interest rate bands. Currently, the top two bands (any amount over $100K) offer the same rate. Deposits between $10K and $99.9K receive a lower rate. Qualified and non-qualified funds are accepted. There are no surrender penalties at death.
AM Best Rating
A- Excellent (4th of 13 ratings)
Company Website
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
0% / 10%
Rate
3.85%
Term
5 Years
Minimum Investment
$100,000
Maximum Investment
$1,500,000 without prior approval
Maximum Age
85
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 0%
What We Like About This Annuity
Policy does not automatically renew at surrender - stays surrender free. It also offers 10% free withdrawals beginning in year two. Enhanced benefit Rider included for Nursing Home and Terminal Illness needs.
Notable Features
At no cost, policy includes both Nursing Home and Terminal Illness waivers. After one year, either rider can be activated and provide 100% free withdrawals if certain conditions are met.
Other Popular Products
American Equity is best known for their fixed-indexed annuity policies. Their IncomeShield, EstateShield, and Asset Shield policies are popular for those looking for growth and income in a bonus annuity.
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About American Equity Investment Life Company
Headquartered in Des Moines, IA, this annuity-focused insurance company has offered policies for over 30 years. They boast an A- rating with AM Best and service over 500,000 accounts nationwide.
They offer innovative fixed and fixed-indexed annuities to make retirement easy for their policyholders. Commitment to service, product integrity, and financial strength are the three core pillars supporting their customers.