American Equity Investment Life Holding Company is one of the largest independent fixed indexed annuity providers in the United States. Founded in 1995, they’ve grown to over $70 billion in assets by focusing almost exclusively on FIAs — specifically products with income riders designed for retirement income planning.
American Equity’s strength is their deep expertise in fixed indexed annuities and income riders. If you’re shopping for an FIA with a guaranteed lifetime withdrawal benefit, American Equity should be on your comparison list.
Key Takeaways
- AM Best A- (Excellent) — meets our minimum A-rated threshold
- One of the largest FIA specialists in the U.S. with $70B+ in assets
- Known for income-focused FIAs with competitive GLWB riders
- Products sold through independent agents — broad distribution
- Acquired by Brookfield Asset Management in 2024, adding significant capital backing
American Equity Annuity Products
IncomeShield 10 — American Equity’s flagship income FIA. 10-year surrender period. S&P 500 and other index options. The IncomeShield Income Benefit provides a guaranteed 8% simple interest rollup on the benefit base for up to 10 years. Lifetime withdrawal rates of 4.5%–7.0% depending on age at income start.
Best for: Pre-retirees (ages 55–65) who want to maximize future guaranteed income over a 7–10 year deferral period.
AssetShield 7 — 7-year FIA focused on accumulation rather than income. Multiple index strategies, no income rider (keeping costs low). Competitive caps for index-linked growth.
Best for: Accumulation buyers who want FIA growth potential without the cost of an income rider.
American Equity Income Choice — Simplified FIA product with a straightforward index strategy and income rider. Designed for buyers who want guaranteed future income without complex product features.
Financial Strength Ratings
| Agency | Rating |
|---|---|
| AM Best | A- (Excellent) |
| S&P Global | BBB+ (Good) |
Note: S&P’s BBB+ rating is below our typical A-rated threshold. AM Best remains the primary rating for insurance-specific financial strength assessment. Buyers should weigh this alongside the AM Best A- rating and the recent Brookfield backing.
American Equity Pros and Cons
| Pros | Cons |
|---|---|
| FIA specialist — deep expertise in income products | AM Best A- — meets threshold but not A+ or A++ |
| Competitive GLWB income riders for retirement planning | S&P rating (BBB+) below investment-grade threshold for some buyers |
| $70B+ in assets — significant scale | 10-year surrender period on income products |
| Brookfield backing adds capital strength | FIA products require careful income rider comparison |
| Wide independent broker distribution | No MYGA product — FIA specialist only |
Frequently Asked Questions
Is American Equity a good annuity company?
American Equity is a strong FIA specialist with $70B+ in assets and AM Best A- rating. Their income rider products are particularly competitive. Buyers who want MYGAs should look elsewhere — American Equity focuses on FIAs. The AM Best A- meets our minimum threshold, though buyers should note the S&P BBB+ rating.
Who owns American Equity now?
Brookfield Asset Management completed its acquisition of American Equity Investment Life in 2024. Brookfield manages over $1 trillion in assets globally. This acquisition provides significant additional capital backing for American Equity’s insurance obligations.
What is American Equity’s best income annuity product?
The IncomeShield 10 is American Equity’s flagship income product. Its 8% simple interest rollup on the benefit base over 10 years — combined with competitive lifetime withdrawal rates — makes it one of the more competitive income FIAs on the market. Compare it against similar products from Athene, Midland National, and North American before purchasing.
