American Equity Investment Reviews

Months prior to obtaining this annuity, my husband and I met with the representative 5 or 6 times. We discussed our business and were convinced to believe that this person was actually concerned about situation. As time went on the topic changed to this annuity. We ended up losing our business but this didn't stop the rep from pushing us in to something we did not understand completely or couldn't afford. We need that money to get back on our feet after our business loss. For us to take a partial amount out of the annuity will kill us with interest and fees. If we surrender the policy, we will lose half of the money that my husband worked hard for. We haven't heard from our representative since the transaction, which I see is commonplace in many of the comments.

My husband passed away so we called in November to get correct initial investment and gains. The amounts provided were incorrect. Received a letter correcting the error in December, then filed for the payout. They send the wrong amount as the amounts in the account were never corrected. That also stated check was sent in mid December and it was never mailed. Called in early January to inform them the check was incorrect and was assured it would be addressed and a new check for Delta would be sent before the end of January. This did not happen. They filed with IRS incorrect paperwork as well.

Have had an annuity for around three years - was told by my rep after me and my wife both purchased an annuity there would be yearly reviews and he would keep in touch. I have never heard one word from him since time of purchase. Overall plan seems to be doing okay but I would rate my representative at total zero.

Realized made huge mistake buying gold annuity from this co. Return very low and contract very long compared to other annuity on the market who perform at a much better rate and give you more flexibility to manage your account. Was convinced by sleazy agent that this was a great deal.

I contacted American Equity to ask about surrendering my account due to financial hardships because of having to bury my dad. AE contacted me and basically told me that I was out of luck until 2030, unless I wanted to pay the surrender charges which are outrageous. It is horrible to be tied into something and have no way out... And for the percentage it's gaining, I may as well have my money under a mattress. I will not put another penny into this company.

Updated on 11/07/2018: My final words on this trainwreck of an annuity. In my last review in August I expressed my dismay with this product. My prediction of another 0% yearly was wrong. It turned out to be $945 or 3/4 of a percent, WOW! Unfortunately my 11 month summary showed a surprising $7300 return. I then was on the S&P watch for the next month. I watched it dribble down next to nothing and there was nothing I could do. This happened to me 4 years ago as I watched a 11% return drop to 6%. What's the point of the 11 month summary anyway.

We tried to make a request for a simple withdrawal of a portion of our account. The first person we spoke to after waiting over 10 days gave us an uneducated response delaying the deposit even longer. The person processing the withdrawal made a 20% error upward to the amount we requested and then taxed the higher amount. All paperwork submitted to American Equity was correct. Their incompetent employees made the errors.

This might be fine for younger people who are coming in at a time of low interest rates, but I was confused by Matt ** on this and am stuck with an awful contract, having turned over fixed 3% annuities into this risky low-return disaster. Now I'm stuck with it.

My parent owned two annuities from American Equity Investment Life Insurance Company. One was a Deferred Annuity that transferred to my siblings and myself without complaint. The second Annuity (I suspect it was a SPIA - Single Premium Immediate Annuity) was annuitized during while my parents were living. Upon the death of each parent, I was appointed as the executor of each Estate. As the Executor I have the duty to collect all funds, file all taxes, and distribute all residual property. Upon the death of my mother (predeceased by my Father) the payments ended. This could possibly be appropriate if the contract was written as such. But the contract could have included a payout for a specific (or minimum) time period.

The person who sold me this policy misrepresented just about every aspect. I was told as an annuity, it had a guaranteed interest rate. And would I be interested in the lifetime income rider? What he did not tell me is that the first was dependent on the second. Last year, interest was posted every few months, now it is only calculated at the end of the policy year. This is quite a big thing to leave out of the explanations. "But Ma'am, you signed it?" Yes I did, I trusted this man. Bad idea. He wanted a commission, not my financial well being.

A nice lady answered the phone, very professional. I asked how we did last year, I expected about 4%. Much better than the bank offerings. 10% plus. I didn't expect such a return. I will add to my account at first opportunity. Have a good year.

My mother passed away very unexpected on the May of this year. We reached out to American Equity Investment Life Insurance Company in July. My siblings and I are disappointed that this has been a very long process with American Equity Investment Life Insurance Company. We have settled All matters (life insurance policies, IRS, pensions, etc.) associated with my Mom's estate months ago but this American Equity matter just drags on.

We had received a request to call the agent of American Equity Investment if we wanted to change our percentages. Well he finally got a hold of my husband who is the one bearing this account to call my wife about getting this down before the deadline. Well time came and went and that never did happen and from what I can tell the only one making any money on our account is them.

Today, I received a call from my agent, Mike **, and he explained how the annuity works. After speaking with him, I am happy with American Equity and will let my money continue to grow. Thanks, Mike for your patience and support.

They are the worst claims department I've ever dealt with! If you need your money quickly, just forget it! And if you make a mistake the whole process starts all over. 10 business days to process, and 5 days to mail! They make sure to keep your money for 2 to 3 more months. When they took the account only took minutes to get money. Let's put it this way. Would never do business with them ever again. They don't inform you about anything, and try to get fees any way they can! Also they prey on the elderly, never finished what they set forth in contract, also didn't pay off what was in contract. Buyer beware!!!

American Equity S&P 500 Index Annuity - I think. I am not even sure of the exact name of the annuity that I have but I know my contract number. I thought that I knew what the agent sold me. After a couple of years of reading my yearly statements, I noticed that I was making nothing. I realized that I would be better off in a fraction of a percent passbook bank account. The trick is that American Equity computes increases and decreases to the S&P 500 on a monthly basis and "pays" annually. They tell you that they cap the monthly S&P 500 increase at 1.2%. Any monthly S&P 500 loss percent has NO cap. This really puts the odds of not paying the customer anything greatly in American Equity's favor. American Equity adds all the monthly percent losses with no cap which unfortunately is often much higher than the 1.2% Cap for gains. The odds against the customer making a gain is very great.

I have just retired but continue to work. Knowing that my Equity account is stable, with potential growth is very important. Time will be the true test of this fund, but to date, I am comfortable that I made a good investment for the future.

The agent that set up the annuity promised 8% annual returns vs the S&P. Calls to your rude staff were anything but clear on how to get the 8%. It was never made clear how or when to contact what nebulous part with what nebulous format to even change the investment mix, since you were expert at losing money. After several years, I've received less than what I put in, and the process has been full of lies and delays - misdirecting me, finally getting form, but they were the wrong forms, so I had to go through the entire process all over, and the cash was further delayed.

I doubt if I fully understand how an American Equity annuity works. I always have to check with their office to find out how much I am allowed to withdraw during a year. If you have an excellent "fee only" financial advisor, it is possible to obtain advice on this, or any investment tailored to your circumstances. My independent agent is very high on American Equity and explained the annuity in great detail. Being in the Washington DC area, he understands the needs of government employees and the military.

It is very nice experience to have a deal with American Annual Equity. Their customer service is excellent. They are answering all questions that we need. Their withdrawal options allows us that what we need actually. So I will happily recommend their product to everyone if they ask me. It is a relevant, reliable company to all. American Annual Equity has the best and easy and fastest payout options that people need. They are doing their very good job. So everyone can invest in that. American Annual Equity has the fantastic funding options that people we all need. You can get in an appropriate manner.

Good experience from working with sales to customer service. Never had a problem. All questions were answered within a day. Payout options, pay dates, survivor options, were all explained. I would recommend them to anyone looking for a lifetime payout.

This is a great product. I compared annuities and this was one of the best. Customer service is great and would define try recommend it. No problems with customer service at all as well.

My annuity was very helpful for me... I was very satisfied with it as a whole but there were some qualities to it that I didn't fancy as much as others. For one, the price I paid for it was very expensive. Although the customer service was absolutely amazing, the payout was very dissatisfying. Although some things about this experience was quite annoying to me and my fellow counterparts (including aunt, uncle, etc.) I would definitely recommend this Annuity company to anyone else who needs the service in the rough times of 2015. Well have fun.... The customer service is really nice but there were a few people you should talk to. (I WOULD SPEAK TO GEORGE!)

Very high rate for early withdrawal. I am happy with it. Customer service is excellent and they take you step by step on how everything works. I would strongly recommend this company. Just not happy if I had to withdraw early.

The company we got the annuity from is new to us. We needed to get out of the stock market and have done much better since. This company seems to have more integrity than the last one and I would recommend American Equity to anyone that asks.

I find the help that I was given was very helpful and interesting. Cause me to invest. My opinions to accomplish more investment and to continue to help other people to follow the routine and route that I made risk and analysis investment cause growth for the future function may be a little risky but it pays off in the end.

Contacted agent regarding accessing part of funds in account. Agent (who no longer deals with American Equity today) sent paperwork to them on 9/14/15. When I had not gotten my check by last Monday I contacted the agent who gave me the number at American Equity. When I called them the agent there informed me they had the paperwork and this person did not know why my check had not been sent. I was assured it would be mailed on Thursday. I contacted them on Friday and was assured the check $15,000 had been mailed - regular mail - no signature required which seems very irresponsible considering the amount of the check. To date I have not received the check. I called again and they said it should arrive by Friday.

Submitted via overnight express mail instructions canceling a $250,000.00 annuity during the 20 day free look period. Letter receipted for @ 12 noon 10 JUNE 2015. Follow up phone call to insure that funds were being returned to my Fidelity account in a timely manner resulted in my being told the company would take no action to refund the monies until it received the contract back from the agent. Contacted the Florida Department of Financial Services to ask about the veracity of this statement. Agents at the FL Department of Financial Services stated unequivocally that American Equity had no right to delay refunding the monies while waiting for a contract to be returned. All that was required was a letter of instruction from me canceling the contract and instructing American Equity to return the $250,000.00 to my Fidelity IRA. That letter was signed for @ 12 noon 10 JUNE 2015.

Several months ago I with my bank president inquired if my annuity could be used as collateral, after confirming, we then proceeded the transaction. I asked several representatives if any penalties or money this would cost me just acting as collateral, not closing it out. I was told time and time again NO. 4 months later everything is in place when I get a letter that states this info will be reported to IRS as interest income and I will be responsible for taxes. The annuity was never closed out, never transferred ownership.

My mother-in-law, who now lives with us, invested $36,000 with American Equity in a contract which was completed and able to be surrendered March 22.2014. She asked me to take power of attorney for finances to get her funds and reinvest them. American Equity refused saying this power of attorney for finances did not include surrender of the policy. They then called her in one evening and declared her mentally incompetent which was wrong and quite insulting. They insisted they would pay out if I got a "court order' (not specifying what kind of court order, or even what state). We hired an attorney who knew very well she was competent. American Equity they intended to pay out. They fooled our attorney once telling him of course they intended to pay out if he would only clear up the 'power of attorney' issue. He did and two months later there is still not action. We are determined this will not continue.