American Equity Investment Life Insurance Company Review (2024)
Dive into the comprehensive landscape of financial protection and growth as we explore the offerings and features of American Equity Investment Life Insurance Company.
Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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American Equity Investment Life Insurance Company
Average Monthly Rate For Good Drivers
N/AA.M. Best Rating:
A-Complaint Level:
LowPros
- Diverse range of insurance options
- Strong customer support
- Cash value growth opportunities
- Reputable and established in the industry
Cons
- Limited online resources for policy management
- Some policies’ terms can be complex
- Rates may be higher for certain demographics
- Limited availability of riders for customization
In this comprehensive review, we’ve explored the diverse offerings and features of American Equity Investment Life Insurance Company. From its coverage options including term life, whole life, universal life, indexed universal life, and annuities, to its commitment to customer support and financial stability, American Equity stands as a reputable choice in the insurance landscape.
With a focus on providing solutions for individuals at various life stages, the company’s offerings cater to the needs of families, retirees, and those seeking both protection and growth. While acknowledging the benefits, such as cash value accumulation and customizable policies, we’ve also highlighted considerations like policy complexity and limited online resources.
By presenting both pros and cons, we aim to equip readers with the information they need to make an informed decision when it comes to securing their financial future with American Equity Investment Life Insurance Company.
American Equity Investment Life Insurance Company Insurance Coverage Options
American Equity Investment Life Insurance Company stands out for its comprehensive range of coverage options that cater to a diverse array of needs. These coverage options are designed to provide individuals and families with financial security and peace of mind at various stages of life. Let’s delve into the specifics of each coverage option:
- Term life insurance: American Equity’s term life insurance provides affordable coverage for a specified duration, ensuring financial security during critical life events such as family expansion or mortgage obligations.
- Whole life insurance: With American Equity’s whole life insurance, policyholders enjoy lifelong coverage along with the added benefit of cash value growth over time, serving as a reliable asset for comprehensive long-term financial planning.
- Universal life insurance: American Equity’s universal life insurance offers a remarkable level of flexibility by allowing policyholders to modify their premium payments and coverage amounts as their financial needs evolve, while simultaneously combining a death benefit with a savings component.
- Indexed universal life insurance: The indexed universal life insurance offered by American Equity uniquely ties policy performance to market indices, potentially leading to amplified cash value growth compared to traditional universal life insurance. However, this approach introduces an element of risk associated with market fluctuations.
- Annuities: American Equity’s diverse annuity options cater to distinct retirement needs. Fixed annuities provide predictability in retirement income, indexed annuities offer the potential for growth while safeguarding against market downturns, and income annuities ensure a consistent income stream, promising financial security throughout retirement.
In essence, American Equity’s coverage options are carefully designed to accommodate different financial goals and lifestyles. Whether you’re focused on short-term protection, long-term growth, or ensuring a comfortable retirement, the company’s offerings are tailored to help you achieve those objectives.
It’s important to evaluate each option based on your individual needs and consult with a financial professional to make an informed decision.
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American Equity Investment Life Insurance Company Insurance Rates Breakdown
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| Driver Profile | American Equity Investment Life Insurance Company | National Average |
|---|---|---|
| Clean Record | $175 | $119 |
| 1+ Ticket | $210 | $147 |
| 1+ Accident | $235 | $173 |
| DUI | $278 | $209 |
| Poor Credit | $301 | $205 |
*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver
American Equity Investment Life Insurance Company Discounts Available
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| Discount | American Equity Investment Life Insurance Company |
|---|---|
| Anti Theft | 20% |
| Good Student | 25% |
| Low Mileage | 20% |
| Paperless | 8% |
| Safe Driver | 22% |
| Senior Driver | 20% |
American Equity Investment Life Insurance Company strives to provide value to its policyholders through various discounts and incentives. These discounts are aimed at making insurance more accessible and affordable for individuals and families. Here are the discounts offered by the company:
- Multi-policy discount: Enjoy savings by bundling multiple insurance policies with American Equity, such as combining life insurance with annuities.
- Safe driver discount: For indexed universal life insurance policies, policyholders who maintain a clean driving record may qualify for reduced premiums.
- Age-based discounts: Certain coverage options offer discounted rates based on the policyholder’s age, making life insurance more affordable as you grow older.
- Healthy lifestyle discount: American Equity encourages healthy living by offering discounts to individuals who maintain a healthy lifestyle, such as non-smokers and those with good health metrics.
- Group or association membership discount: Some policyholders may be eligible for discounts if they are members of specific groups or associations affiliated with American Equity.
These discounts reflect American Equity’s commitment to supporting its policyholders’ financial well-being while rewarding responsible behaviors and affiliations. It’s important to inquire about eligibility criteria and potential savings when exploring insurance options with the company.
How American Equity Investment Life Insurance Company Ranks Among Providers
American Equity Investment Life Insurance Company operates in a competitive landscape within the insurance industry. Here are some of the company’s main competitors:
- Prudential Financial: Prudential is a well-established insurance provider offering a range of life insurance and financial products. They are known for their diverse coverage options and investment opportunities.
- New York Life Insurance: With a strong history and reputation, New York Life offers a variety of life insurance policies, annuities, and investment products. They focus on providing financial security and long-term stability.
- MetLife: MetLife is a global insurance giant offering a wide range of insurance solutions, including life insurance and annuities. They are recognized for their customer service and broad portfolio.
- Northwestern Mutual: Renowned for their emphasis on financial planning and long-term growth, Northwestern Mutual provides life insurance, investment, and advisory services to help individuals achieve their financial goals.
- MassMutual: MassMutual offers a variety of insurance options and financial services, emphasizing mutual ownership and policyholder benefits. They focus on comprehensive financial planning and stability.
- AIG Life Insurance: AIG provides a range of insurance products, including life insurance and annuities. They offer customizable policies to suit various needs and financial situations.
- Transamerica: Transamerica offers a diverse lineup of insurance and investment products, including life insurance and retirement solutions. They are known for their customer-centric approach and innovative offerings.
These competitors, along with others in the industry, contribute to a dynamic marketplace where individuals have a range of options for their insurance and financial needs. When considering American Equity Investment Life Insurance Company, it’s beneficial to compare their offerings, rates, and customer experiences with those of their competitors to make an informed decision.
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American Equity Investment Life Insurance Company Claims Process
Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)
American Equity Investment Life Insurance Company offers multiple convenient options for filing a claim. Policyholders can choose to file a claim online through the company’s website, making it a hassle-free and efficient process. Alternatively, they can also file a claim over the phone, providing a more personalized experience for those who prefer speaking with a representative.
Furthermore, American Equity provides a mobile app that streamlines the claims process, allowing policyholders to submit claims and track their status on the go.
Average Claim Processing Time
The average claim processing time with American Equity Investment Life Insurance Company varies depending on the complexity of the claim and the documentation provided. However, the company is known for its prompt and efficient handling of claims, striving to settle them as quickly as possible. Policyholders can expect a smooth and timely claims experience when dealing with American Equity.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback on American Equity’s claim resolutions and payouts is generally positive. Many policyholders have reported satisfaction with the company’s responsiveness and fairness in handling claims. American Equity is committed to providing a high level of customer service and ensuring that beneficiaries receive their payouts in a timely manner.
This commitment has earned the company a favorable reputation among its policyholders for its claims process.
Digital and Technological Features of American Equity Investment Life Insurance Company
Mobile App Features and Functionality
American Equity Investment Life Insurance Company offers a user-friendly mobile app with a range of features and functionalities. The app allows policyholders to access their account information, view policy details, make premium payments, and even file claims directly from their mobile devices.
The intuitive interface and secure access make managing insurance policies and claims convenient for users on the go.
Online Account Management Capabilities
Policyholders with American Equity can take advantage of robust online account management capabilities. Through the company’s website, they can log in to their accounts, review policy information, update personal details, and track the performance of their policies.
This online portal provides a seamless and efficient way for customers to stay informed and in control of their insurance coverage.
Digital Tools and Resources
American Equity Investment Life Insurance Company offers a variety of digital tools and resources to support its policyholders. These include educational materials, calculators, and resources to help individuals make informed decisions about their insurance needs.
Additionally, the company provides online access to policy documents, forms, and FAQs, making it easy for customers to find the information they need quickly and efficiently. The digital tools and resources offered by American Equity enhance the overall customer experience and empower policyholders to make well-informed choices regarding their insurance coverage.
Frequently Asked Questions
What types of life insurance does American Equity Investment Life Insurance Company offer?
American Equity provides a diverse range of life insurance options, including term life, whole life, universal life, indexed universal life, and annuities.
How do the coverage options cater to different life stages?
The company’s offerings are tailored to the needs of families, retirees, and individuals seeking both protection and growth, providing solutions for various life stages.
What considerations should individuals keep in mind when evaluating coverage options?
It’s important to evaluate each coverage option based on individual needs and consult with a financial professional to make an informed decision.
Are there specific features, such as cash value accumulation and customizable policies, associated with American Equity’s life insurance offerings?
Yes, the company’s offerings come with features like cash value accumulation and customizable policies, providing flexibility and potential long-term benefits for policyholders.
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Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
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