American Equity Investment Life Insurance Company
American Equity Investment Life Insurance Company Overview
The generated data is based on reviews and questionnaires provided by PissedConsumer.com users.
American Equity Investment Life Insurance Company has a 1.0 star rating from 1 review and overall customer sentiment is negative; see American Equity Investment Life Insurance Company reviews for details.
Positive Feedback
Saler man pitch was noted as a pro, indicating a clear sales process and product presentation.
Negative Feedback / Risk Areas
- Customer complaints center on heavy penalties and being charged when withdrawing funds early, effectively locking dollars into the retirement package.
- Issues imply billing penalties and contract terms that favor the insurer over the consumer.
- Concerns about contract clarity and limited recourse suggest potential customer service friction.
Key Takeaways for Future Customers
- Read contract terms carefully and verify penalty schedules before signing to avoid unexpected charges and limits on refunds.
- Bring a financial advisor or trusted person to review the retirement package and ask about customer service procedures.
The generated data is based on reviews and questionnaires provided by PissedConsumer.com users.
American Equity Investment Life Insurance Company has a 1.0 star rating from 1 review and overall customer sentiment is negative; see American Equity Investment Life Insurance Company reviews for details.
Positive Feedback
Saler man pitch was noted as a pro, indicating a clear sales process and product presentation.
Negative Feedback / Risk Areas
- Customer complaints center on heavy penalties and being charged when withdrawing funds early, effectively locking dollars into the retirement package.
- Issues imply billing penalties and contract terms that favor the insurer over the consumer.
- Concerns about contract clarity and limited recourse suggest potential customer service friction.
Key Takeaways for Future Customers
- Read contract terms carefully and verify penalty schedules before signing to avoid unexpected charges and limits on refunds.
- Bring a financial advisor or trusted person to review the retirement package and ask about customer service procedures.
West Des Moines, Iowa
Be sure before your dollars are locked away.
- - There are penalties for withdrawals before 10 years.
- - Dollars stay in the account to be claimed.
- - If you die early, payout goes to beneficiary.
Was allowed to take a partial payout ($7000) in 2018. They sent me a 1099 that I had to claim on income tax, as income.
Was not informed that any $$$ would be taxed. When American Equity does start lifetime payments.
Just be prepared to be accountable at tax time, your $$$ are being reported and watched. KO
I have requested more concerns to American Equity regarding their policy that protects "our" dollars from abuse by companies that claim to have our best interests in their equity program. No contact, at all, and no return of my retirement dollars.
Only, one thing to say, again and again....Don't fall for this companies claims, of "handling your retirement". Handle YOUR retirement yourself. This company swoops in, and once those papers are signed, after 30 days, they are in charge.
Again, I was a fool, have someone U trust, to help U protect your dollars. KO
I signed up for this so called retirement package, and am now required to "play by their rules". Big penalties, should you decide to take back some of "your" dollars, before their 10 year schedule is met.
I know that this American Equity Investment Life, relies on us leaving our dollars, in their account, to be claimed by them ....as their assets. Their claim to fame can be settled in just three letters....OPM! Once signed up, the dollars are theirs, till that contract marker is met....or you die early, then it is given to your beneficiary. Easier choice!
Just saying, don't be sweet talked into signing on that easy. Talk with someone....no, have someone with you, to go over all those contract details.
Fare warning! KO
- Saleman pitch
- Being charged with my money as a penalty
Preferred solution: Don't think I have one, just want others to be aware...of choices.
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