American Equity IncomeShield 7 - CA
Status:
Active
Group:
American Equity
Product Type:
Indexed Annuity
Product Status:
Approved
Version:
0
Inception Date:
September 06, 2018
Closed Date:
Last Modified:
January 02, 2026 05:57
Description:
The American Equity IncomeShield 7 - CA is a flexible premium deferred index annuity. The minimum single premium is $5,000 for qualified and non-qualified money. Additional contributions can be made for $1,000 or more. 10% of the purchase payment may be withdrawn after the first policy year and interest earned may be withdrawn during the first policy year without incurring a surrender charge. Systematic Withdrawal and RMDs are an option. Surrender charges are 7 years in duration, and are waived in the event of death. There is an optional Lifetime Income Benefit with 5 options available which, if elected at an extra cost, provides lifetime income. There is an optional MVA Rider available. Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 59 1/2, may also be subject to a 10% federal income tax penalty. Early surrender charges may also apply. Guarantees based on the claims-paying ability of the insurer. Products/features may not be available in all states. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.
Fee Based:
No
Free Look:
No
Plan Types:
Non-Qualified, IRA, IRA Rollover
Premium Types:
Flexible
States Available:
CA
States Exception:
Version Note:
Launch of wellbeing benefit.
Scrap Book:
Death benefits
| Name | Internal name | Sequence | Inception date |
|---|---|---|---|
| Basic Death Benefit | Basic Death Benefit | 1 | 06 Sep 2018 |