American Equity Investment Life Insurance Company
Reviews and Complaints

They closed my account on August 11 and has not allow me to make any transactions or withdraw my money. I have been trying to solve the problem for about 5 months, but they are not giving any logical response. All my company's activities are at great risk and they still can't fix the problem. Have been receiving a ton of apologies but nothing actually being done about it. I have been trying to solve the problem for about 5 months, but they are not giving any logical response.

The date of transaction: 12/07. The amount of money in question being withheld: $22,839.96. My request to surrender my account is being unlawfully withheld by this financial institution. On Dec. 7th, 2021, I contacted American Equity to surrender my account. They inquired about my marital status; I informed them of my divorce since August . They requested my divorce decree, which they confirmed receiving on Dec. 9th, 2021. After no response, I called again days later. They insisted my ex-wife needed to sign a release despite our legal divorce, her non-involvement in the account, and the divorce decree excluding all community property, including with American Equity. They claimed to have mailed the release form, which I never received after two weeks. Meanwhile, they permitted my ex-wife to surrender her account without issue. I find their actions unlawful, unprofessional, and unethical, causing financial hardship to me, my business, and my family. I seek assistance in resolving this matter with the financial institution. Kind Regards, [Name] Dec. 26th, 2021.

I got this annuity thing with American Equity Investment Life Insurance Company that was supposed to end on 8/13/2022. So, my agent asked them how we could move the money to my brokerage account without any extra charges. American Equity Investment Life Insurance Company said we should start the transfer and promised there wouldn't be any surrender charges. But guess what? Turns out we started the transfer before 8/13, which means it was before the end date, and now they're hitting us with all these surrender charges. So, me and my agent had to get in touch with American Equity Investment Life Insurance Company to sort out their wrong advice. We had a few calls back and forth, and finally, they admitted they messed up. They said they'd send the check to Pershing LLC. But here's the kicker, it's been four weeks already, and they still haven't sent the check. They keep saying they will, but I'm starting to think they're just stalling or trying not to send it like they promised. Just so you know, the surrender charge is $2,204.02 (plus a bit of interest that's been adding up for a few weeks, but I don't know the exact amount). Me and my agent have been calling American Equity Investment Life Insurance Company every day to get an update.