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 Contract# *** (***)My request to surrender my account is being unlawfully withheld by this financial institution. On Dec. 7th 2021 I contacted American Equity in order to surrender my account. They ask me if I was married, and I said divorced since August . They told me I had to send the divorce decree/judgement of which I did and they acknowledged receiving on Dec. 9th 2021. I got no response so I called another few days later. They then said that my ex wife had to still sign a release even though we are legally divorced, she is not on the account, and the court ordered divorce specifically rules out all community properties between us, including American Equity. They said they had mailed the release form of which 2 weeks later they did not. At the same time they allowed my ex wife to surrender her account with no questions or requests asked. I believe this company has been unlawful, unprofessional, and unethical. They have caused a great financial hardship to me, my business, and my family. I hope you can facilitate a resolution to this concern, especially since they are a financial institution. Kind Regards, *** 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.