Expert review · 2026

American Equity review

One of America's largest fixed indexed annuity providers with strong income options.

Carrier strength

A

A.M. Best

Products16

Total assets$70+ Billion

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01

16 American Equity annuities

Click any product for rates, specs, and the full peer-group review.

Product	Type	Surrender	Rating	Income rider	Bonus
GuaranteeShield 3	MYGA	3yr	A	—	—	Details →
GuaranteeShield 5	MYGA	5yr	A	—	—	Details →
American Equity AssetShield BONUS 10 Buyers who want a large upfront bonus with the option to enhance it further via the EBLR	FIA	10yr	A	—	15%	Review →
American Equity AssetShield BONUS 5 Buyers who want an immediate contract value boost with a shorter surrender commitment	FIA	5yr	A	—	3%	Review →
American Equity IncomeShield BONUS 10 Buyers who want a 14% premium bonus combined with built-in lifetime income and Wellbeing Benefit	Income	10yr	A	Yes 1.10% annually fee	14%	Review →
AssetShield 10	FIA	10yr	A	—	—	Details →
AssetShield 5	FIA	5yr	A	—	—	Details →
AssetShield 7	FIA	7yr	A	—	—	Details →
AssetShield 9	FIA	9yr	A	—	—	Details →
AssetShield 9 Bonus	FIA	9yr	A	—	—	Details →
California IncomeShield 7	FIA	7yr	A	Yes 1.10% annually fee	—	Details →
California IncomeShield 9	FIA	9yr	A	Yes 1.10% annually fee	—	Details →
EstateShield 10	FIA	10yr	A	—	—	Details →
EstateShield 9	FIA	9yr	A	—	—	Details →
IncomeShield 10	FIA	10yr	A	Yes 1.20% annually fee	—	Details →
IncomeShield 7	FIA	7yr	A	Yes 1.10% annually fee	—	Details →

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About American Equity

American Equity Investment Life Insurance Company is one of the largest issuers of fixed indexed annuities in the United States. With over 25 years of experience, they specialize in providing retirement solutions that offer both growth potential and downside protection. Their IncomeShield product line is particularly popular among retirees seeking guaranteed lifetime income.

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The tradeoffs

What works

Largest FIA issuer in the US by premium
IncomeShield series offers competitive payouts
Multiple index crediting strategies available
Strong track record of rate competitiveness
10% annual free withdrawal provision

What to watch

AM Best rating slightly lower than top competitors
Limited MYGA product offerings
Some products have complex fee structures
Surrender periods up to 10 years

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What you could receive

Live projection for IncomeShield Bonus 10 with IncomeShield Bonus 10 LIBR Option 2 - 6.50% Rollup & Wellbeing Rider — single life, issue age 62, income beginning at age 75. Illustrative, not a quote; figures refresh from Annuity Rate Watch.

Premium	Monthly	Annual
$250,000	$4,071	$48,855
$500,000	$8,143	$97,711
$1,000,000	$16,285	$195,421

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Income rider fees

Disclosed charges for optional riders on American Equity products, live from Annuity Rate Watch. Product-level detail is on each review.

Rider	Product	Fee
Enhanced Bonus and Liquidity	American Equity AssetShield BONUS 10	0.95%
IncomeShield CA LIBR Option 2 - 8.25% Rollup	California IncomeShield 7	1.10% annually
IncomeShield CA LIBR Option 3 - 6.50% Rollup	California IncomeShield 7	1.10% annually
IncomeShield LIBR Option 2 - 8.25% Rollup	California IncomeShield 7	1.10% annually
IncomeShield LIBR Option 3 - 6.50% Rollup	California IncomeShield 7	1.10% annually
IncomeShield LIBR Option 4 - 8.25% Rollup & Wellbeing Rider	California IncomeShield 7	1.20% annually
IncomeShield LIBR Option 5 - 6.50% Rollup & Wellbeing Rider	California IncomeShield 7	1.20% annually
CA IncomeShield 9 LIBR Option 1	California IncomeShield 9	1.10% annually

+6 more riders listed on individual product pages.

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Best fit for these buyers

Investors seeking indexed annuity growth

Retirees wanting guaranteed lifetime income

Those comfortable with 10-year commitment

Ages 50-70 in accumulation or income phase

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Frequently asked questions

Is American Equity a good annuity company?

We have reviewed 3 American Equity products, and A.M. Best rates the carrier A for financial strength. We describe its financial position as "Strong" with $70+ Billion in total assets.

How much income can I get from a American Equity annuity?

Income depends on your premium, age, and start date. At our benchmark scenario — single life, issue age 62, income beginning at age 75 — American Equity's highest-paying income product (IncomeShield Bonus 10) currently projects about $97,711 per year on a $500,000 premium, or $48,855 on $250,000. Figures are illustrative, based on live Annuity Rate Watch data, and are not a quote.

What are the fees for American Equity annuities?

Fee structures vary by product. Optional income riders on American Equity products carry disclosed charges — for example Enhanced Bonus and Liquidity (American Equity AssetShield BONUS 10): 0.95% ; IncomeShield CA LIBR Option 2 - 8.25% Rollup (California IncomeShield 7): 1.10% annually ; IncomeShield CA LIBR Option 3 - 6.50% Rollup (California IncomeShield 7): 1.10% annually . See each product review for the full fee detail.

What is the surrender period for American Equity annuities?

Surrender periods on American Equity's current lineup run 3–10 years, depending on the product. Most products allow an annual free-withdrawal amount before charges apply — the product table above shows each product's surrender length, and each review covers the exact schedule.

Sources & standards

How we know what's on this page

Rates, terms & availability: Annuity Rate Watch, which aggregates carriers' filed rate sheets. Refreshed every night.
Financial strength: A.M. Best. We publish the carrier's letter rating rather than a score of our own.
Contract detail: The carrier's own brochure — minimum guaranteed surrender value, death benefit, RMD treatment, annuitization options, waiver riders and free-withdrawal terms. Where the brochure and the rate feed disagree, the brochure wins: it is the filed document. Where neither carries a fact, the page omits it. We do not fill gaps with estimates.

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