American Equity Annuity Review (2026)

Written by Jason Caudill, MBA | Reviewed by My Annuity Store Editorial Team
Published March 2, 2026 · Updated March 4, 2026

American Equity Investment Life Insurance Company has been one of the top fixed index annuity providers in the United States since 1995, with an A- (Excellent) rating from AM Best and over $75 billion in assets. Now part of Brookfield Reinsurance, American Equity is known for its income-focused FIA products, competitive crediting strategies, and a distribution model built around independent insurance agents and financial advisors.

This review covers American Equity’s financial strength, MYGA and FIA product lineup with live rates, and contact information.

American Equity at a Glance

Detail Information
Full Legal Name American Equity Investment Life Insurance Company
Parent Company Brookfield Reinsurance Ltd.
Headquarters West Des Moines, Iowa
Founded 1995
AM Best Rating A- (Excellent)
S&P Rating BBB+ (Good)
Total Assets $75+ billion
Products Offered Fixed Index Annuities, MYGAs
States Available All 50 states + D.C.
Minimum Premium $10,000 (most products)

American Equity’s Financial Strength

American Equity carries an A- (Excellent) from AM Best. While A- is one notch below the A held by carriers like Athene and Corebridge, it remains within AM Best’s “Excellent” tier. The company’s $75+ billion in assets reflect its standing as a top-5 FIA issuer nationally.

In 2023, Brookfield Reinsurance completed its acquisition of American Equity, bringing Brookfield’s institutional investment management capabilities to the carrier’s balance sheet. For clients primarily focused on FIA income products, American Equity’s track record and product design remain strong selling points regardless of the ownership change.

What Types of Annuities Does American Equity Offer?

  • Fixed Index Annuities (FIAs) — American Equity’s AssetShield, IncomeShield, and FlexShield products are among the most widely distributed FIA products in the country, offering index-linked growth with optional income riders.
  • Multi-Year Guaranteed Annuities (MYGAs) — American Equity offers fixed rate annuity products for clients seeking simple guaranteed accumulation.

American Equity MYGA Products and Current Rates

Live rates from AnnuityRateWatch · Rates updated March 23, 2026

Product Term Rate (APY) Min Premium Last Rate Change
GuaranteeShield 3
AM Best A 		3 Years 3.75% $100,000+ Nov 12, 2025 View Details →
GuaranteeShield 3
AM Best A 		3 Years 3.75% $250,000+ Nov 12, 2025 View Details →
GuaranteeShield 3
AM Best A 		3 Years 3.5% $10,000+ Nov 12, 2025 View Details →
GuaranteeShield 5
AM Best A 		5 Years 3.75% $100,000+ Nov 12, 2025 View Details →
GuaranteeShield 5
AM Best A 		5 Years 3.75% $250,000+ Nov 12, 2025 View Details →
GuaranteeShield 5
AM Best A 		5 Years 3.5% $10,000+ Nov 12, 2025 View Details →

Rates apply to standard products. State availability varies. Not an offer or solicitation. Always verify current rates before purchasing.

American Equity Fixed Index Annuity Products

AssetShield

American Equity’s flagship accumulation-focused FIA, offering multiple index crediting strategies with a guaranteed zero floor. Designed for clients who want to build value over time without the risk of market losses. Multiple term options available through independent agents.

IncomeShield

An income-focused FIA with an integrated guaranteed lifetime withdrawal benefit. Provides index growth potential alongside a guaranteed income floor that clients cannot outlive. A popular choice for clients 5–15 years from retirement who want to build guaranteed income.

American Equity Retirement Gold Annuity

An FIA with a premium bonus and enhanced income rider structure. Designed for clients who want upfront accumulation incentives alongside long-term income guarantees. Download the Retirement Gold brochure (PDF).

Who Is American Equity Best For?

  • FIA income buyers who want a carrier with decades of FIA-specific expertise and some of the most broadly distributed income rider products in the market.
  • Clients comparing FIA income riders — American Equity’s IncomeShield and similar products are frequently in the top tier for guaranteed income per dollar of premium in side-by-side comparisons.
  • Agents and advisors who have built client relationships around American Equity products and want to continue with a trusted, well-distributed platform.
  • Rate-sensitive MYGA buyers who also want to compare FIA options from the same carrier in a single quote.

Contact American Equity

Contact Method Details
Website www.americanequity.com
Customer Service 1-888-221-1234
Mailing Address American Equity Investment Life Insurance Company
6000 Westown Pkwy
West Des Moines, IA 50266
Hours Monday–Friday, 7 a.m.–6 p.m. CT

Compare American Equity Against Other FIA Carriers: My Annuity Store compares American Equity alongside Allianz, Nationwide, North American, and 20+ other carriers. Get a free comparison quote or call 855-583-1104.

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Editorial Disclosure: Our editorial team independently reviews and rates annuity products. We may earn commissions when you request a quote through our partner links. This content is for informational purposes only and does not constitute financial advice. Learn more.
Disclaimer: This content is for informational and educational purposes only. It does not constitute financial, tax, or legal advice. Annuity products vary by state and carrier. Always consult a licensed financial professional before making any financial decisions. My Annuity Store is an independent marketplace and does not provide investment advice.

Pros and Cons of Fixed Annuities

Before you commit to a fixed annuity, weigh the advantages and drawbacks for your retirement situation.

✓  Pros

  • ✓ Guaranteed rate locked in for the full term — no surprises
  • ✓ Principal is 100% protected from market losses
  • ✓ Often pays significantly more than CDs or savings accounts
  • ✓ Tax-deferred growth — no annual tax bill until withdrawal
  • ✓ Up to 10% annual free withdrawal without surrender charge
  • ✓ State guaranty association coverage (typically up to $250,000)
  • ✓ Simple to understand — no moving parts or index tracking

✗  Cons

  • ✗ Surrender charges apply if you withdraw more than 10% early
  • ✗ Not FDIC insured — backed by the insurance company, not the government
  • ✗ Earnings taxed as ordinary income (not capital gains rates)
  • ✗ 10% IRS early-withdrawal penalty before age 59½
  • ✗ Rate is fixed — you won't benefit if market rates rise
  • ✗ Less liquidity than a savings account or money market

Learn more: Are annuities safe?

Compare Top MYGA Rates by Term

See today's highest guaranteed rate from an A-rated carrier for each term length.

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3-Year MYGA
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★ Most Popular
5-Year MYGA
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7-Year MYGA
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Rates sourced from AnnuityRateWatch. A-rated carriers (AM Best) only. Not a solicitation. Rates vary by state. Verify before purchasing.

Types of Annuities

Insurance companies offer several types of annuities to fit different financial goals. Here's how they compare.

A MYGA (Multi-Year Guaranteed Annuity) is the simplest fixed annuity. Your rate is guaranteed for the entire term — 3, 5, or 7 years. No market exposure, no index tracking. What you see is what you earn.

Best for: Savers who want a predictable, guaranteed return and are comfortable locking funds for a set term. Often compared to CDs but frequently pays more.

Learn more about MYGAs →

A Fixed Indexed Annuity (FIA) links your interest credits to a market index (like the S&P 500) with a floor of 0% — so you can never lose principal. Upside is capped via participation rates or caps.

Best for: Investors who want some market participation with a safety net. More complex than MYGAs but potentially higher returns in strong market years.

Learn more about FIAs →

A SPIA (Single Premium Immediate Annuity) converts a lump sum into a guaranteed income stream — monthly checks that start within 30 days and continue for life or a set period.

Best for: Retirees who need guaranteed income immediately and want to eliminate the risk of outliving their money. The "pension replacement" product.

Learn more about SPIAs →

A Variable Annuity invests your premium in sub-accounts (similar to mutual funds). Returns fluctuate with the market — you can earn more but can also lose principal.

Best for: Long-term investors who want market exposure inside a tax-deferred wrapper and are comfortable with investment risk. Higher fees than fixed products.

Learn more about variable annuities →

A RILA (Registered Index-Linked Annuity) offers partial market participation with a defined buffer against losses (e.g., 10% or 20%). Unlike FIAs, RILAs can lose money — but losses are limited.

Best for: Investors willing to accept limited downside in exchange for higher upside potential than a traditional FIA. A middle ground between fixed and variable.

Learn more about RILAs →

Rate Methodology

My Annuity Store monitors MYGA rates from over 50 A-rated insurance carriers via AnnuityRateWatch. Our rate data refreshes every 6 hours.

To make our list, a carrier must be rated A− or better by AM Best — a financial strength rating that indicates the insurer's ability to meet obligations. Carriers with ratings of B++ or lower are excluded regardless of how attractive their rate appears.

Rates are sorted by highest guaranteed APY within each term group. Products using simple interest (SI) are labeled — the effective compound yield is lower than the stated rate. Minimum premiums shown are for non-qualified (after-tax) purchases.

Athene Annuity & Life
MassMutual
Corebridge Financial
Global Atlantic
North American Company
Midland National
American Equity
New York Life
Gainbridge Life
American National
Nassau Life
Sentinel Security Life
Protective Life
Pacific Life
Nationwide
Equitrust Life
F&G Annuities & Life
Oceanview Life
Oxford Life
Puritan Life
American General (Corebridge)
Delaware Life
Guggenheim Life
Integrity Life
Kansas City Life
Lafayette Life
Ibexis Life
American Fidelity
Security Benefit
Standard Insurance Company
📊 Data: AnnuityRateWatch · A-rated carriers only · Updated daily

Frequently Asked Questions

The best MYGA rate available today is shown in the rate table above. Rates change daily — the table reflects current data updated every 6 hours from AnnuityRateWatch.
Yes. The interest rate shown at the time of purchase is contractually locked in for the entire term — whether 3, 5, or 7 years. Unlike CDs at banks, MYGA rates cannot be changed by the insurance company during the guaranteed period, regardless of what happens to market interest rates.
Fixed annuities are not FDIC insured, but they are protected by your state's guaranty association — typically up to $250,000 per insurance company. Beyond that, the financial strength of the carrier matters. We only list carriers rated A− or better by AM Best, which indicates strong ability to meet policyholder obligations.
Most MYGAs allow a free annual withdrawal of 10% of your account value without a surrender charge. Withdrawals beyond 10% trigger surrender charges, which typically start around 7% and decline by one percentage point per year until they reach zero. At maturity, you can withdraw your full balance with no penalty.
Growth inside a non-qualified (after-tax funded) annuity is tax-deferred — you owe no taxes until you withdraw. When you do withdraw, earnings are taxed as ordinary income, not at the lower capital gains rate. Withdrawals before age 59½ also incur a 10% IRS early-withdrawal penalty on the earnings portion.
At maturity, most carriers give you a free-look window (typically 30 days) during which you can withdraw your full balance, roll it into a new annuity (tax-free via a 1035 exchange), or annuitize for lifetime income. If you do nothing, the contract typically renews at a new rate — which may be lower than your original rate.
For most people with a 3–7 year time horizon, MYGAs currently pay significantly more than CDs. Top 5-year MYGAs are paying competitively above 5%, while the best 5-year CDs are around 4.50%. The tradeoff: MYGAs have larger surrender charges for early withdrawal than CDs typically impose.

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