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Fixed Indexed Annuity

American Equity AssetShield Bonus 5 - Option 3

American Equity Investment Life Insurance Company

4.75%

Best Cap

10%

Free W/D

50

Jurisdictions

Product data status: May 29, 2026

Rates, state availability, rider terms, and contract language must be confirmed with a licensed financial advisor or insurance professional before purchase. Guarantees are backed by the issuing insurer.

Live product data

Rates as of May 29, 2026, based on the latest AdvisorWorld scan of CANNEX data.

S&P 500 annual cap rate

4.75% cap on S&P 500

A five-year-surrender bonus FIA from an A-rated carrier — Option 3 of three premium-bonus variants in American Equity's AssetShield Bonus 5 series, structured for accumulation (no income rider) with the largest bonus and the lowest ongoing crediting rates of the three Options, across an index menu spanning recognizable benchmarks and proprietary volatility-controlled indexes.

1-year termAdvisorWorld + CANNEX data

Best fit

Accumulation-focused buyers committing to a five-year deferral who want the largest possible up-front premium bonus in the AssetShield Bonus 5 series, are comfortable trading lower ongoing caps and participation rates for that day-one credit, don't need a built-in lifetime-income rider, and specifically want the highest-bonus position in a three-Option ladder rather than the middle (Option 2) or smallest-bonus (Option 1) sibling.

AM Best

A Excellent

Surrender period

5 years

Free withdrawal

10%/yr

Availability

50 jurisdictions (excl. New York)

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

4.75% cap rate

S&P 500

S&P 500 Index

7.5% cap rate

S&P 500

S&P 500 Index

2.1% cap rate

S&P 500

S&P 500 Index

3.1% cap rate

S&P 500

S&P 500 Index

100% participation rate + 4% declared rate

S&P 500

S&P 500 Index

34% participation rate

S&P 500

S&P 500 Index

50% participation rate

Nasdaq-100

Nasdaq-100 Index

5% cap rate

Nasdaq-100

Nasdaq-100 Index

100% participation rate + 4.5% declared rate

Dow Jones

Dow Jones Industrial Average

4.75% cap rate

Dow Jones

Dow Jones Industrial Average

100% participation rate + 4.25% declared rate

Fixed Account

Fixed Account

2.85% declared rate

+ 17 volatility-controlled index options (BNP Paribas, Nasdaq Premier, NYSE Premier...)

Product analyst notes

How to think about this contract

Why it can stand out

  • Carries the largest up-front premium bonus of the three AssetShield Bonus 5 Options (A0038U, A0038W, A0038Y) — Option 3 is the highest-bonus, lowest-crediting tier of the ladder, built for a buyer who values the day-one bonus credit over ongoing cap and participation rates.
  • Surrender term is only five years, a comparatively short deferral commitment for a bonus FIA. Bonus-style retail FIAs commonly lock buyers in for seven to ten years to recover the up-front bonus, so a five-year bonus contract is the structural draw of this series.
  • Crediting menu includes a recognizable S&P 500 annual point-to-point cap as well as an S&P 500 declared-trigger strategy and an S&P 500 Dividend Aristocrats participation strategy, so buyers who want a like-for-like benchmark, a stated-trigger alternative, or dividend-tilted equity exposure can hold any of them inside one contract.
  • Free-withdrawal allowance, the full five-year surrender ladder, and the nursing-home and terminal-illness waivers are all visible directly on this page rather than gated behind a sales brochure.

What to confirm

  • This is not a guaranteed-lifetime-withdrawal product — there is no GLWB income rider attached and no Protected Income Value chassis on this contract. AssetShield Bonus 5 - Option 3 is built for accumulation, not for a contractually guaranteed lifetime payout — a buyer who needs lifetime income should look at a rider-led product instead.
  • Option 3 is the highest-bonus / lowest-crediting variant in a three-Option ladder. The bonus is real on day one, but the carrier recovers it through lower ongoing cap and participation rates than Option 1 or Option 2 — over a five-year hold, the smaller-bonus siblings can out-credit Option 3 if renewal rates hold up. The bonus is not a free credit; it is a structural trade against ongoing crediting.
  • The published premium bonus is described as varying by state, premium band, and rider election, so the headline bonus number is the maximum case rather than a guaranteed credit for every buyer — confirm the exact bonus that applies to a specific state and funding amount before treating it as money in hand. The contract floor on caps and declared rates is also very low, so renewal-rate risk is the buyer's to carry for the full surrender term.
  • Several of the listed index options are proprietary American-Equity-branded or volatility-controlled indexes (Nasdaq Premier, NYSE Premier, BNP Paribas Patriot Technology, BlackRock Adaptive US Equity 15%, S&P 500 Dividend Aristocrats Daily Risk Control 5%, S&P 500 Advantage 15% VT TCA). Their participation rates and caps can look high in absolute terms but are not directly comparable to an S&P 500 cap — evaluate each strategy on its own merits. Many strategies also offer a 'Performance Rate Rider' variant that publishes a higher cap or participation rate, but that uplift is paid for through a separate rider mechanic rather than coming free with the contract, and should not be compared with another product's no-rider cap.

Not ideal for

Buyers who need a contractually guaranteed lifetime withdrawal rate from a GLWB rider, who want the highest ongoing caps and can accept the smallest bonus (Option 1 is built for that), who want the middle-of-the-ladder tradeoff (Option 2 is built for that), who need short-surrender liquidity inside the first five years, or who want a death benefit that pays more than cash surrender value — none of those are what this contract is built to deliver.

All crediting strategies

View rate listings (58 rows)

These are the current crediting strategy listings returned for this product. Use the filters to narrow by index, term, premium band, or rate type.

Par: 195% · 1-yr

S&P 500 Dividend Aristocrats Daily Risk Control 5% Index (USD) Excess Return

Performance Rate Rider · participation

5-yr surrender

Par: 140% · 1-yr

BNP Paribas Patriot Technology Index

Performance Rate Rider · participation

5-yr surrender

Par: 130% · 1-yr

S&P 500 Dividend Aristocrats Daily Risk Control 5% Index (USD) Excess Return

participation

5-yr surrender

Par: 100% + Fixed: 5.75% · 1-yr

Nasdaq Premier Index

trigger

5-yr surrender

Par: 100% + Fixed: 5.5% · 1-yr

S&P 500 Advantage 15% VT TCA Index (USD) ER

trigger

5-yr surrender

Par: 100% + Fixed: 4% · 1-yr

S&P 500 Index

trigger

5-yr surrender

Par: 100% + Fixed: 4.25% · 1-yr

Dow Jones Industrial Average

trigger

5-yr surrender

Par: 100% + Fixed: 4.5% · 1-yr

Nasdaq-100 Index

trigger

5-yr surrender

Par: 90% · 1-yr

BNP Paribas Patriot Technology Index

participation

5-yr surrender

Par: 70% · 1-yr

Nasdaq Premier Index

Performance Rate Rider · participation

5-yr surrender

Par: 70% · 1-yr

NYSE Premier Index

Performance Rate Rider · participation

5-yr surrender

Par: 70% · 1-yr

S&P 500 Advantage 15% VT TCA Index (USD) ER

Performance Rate Rider · participation

5-yr surrender

Par: 65% · 1-yr

BlackRock Adaptive US Equity 15% Index

Performance Rate Rider · participation

5-yr surrender

Par: 50% · 1-yr

S&P 500 Index

Performance Rate Rider · participation

5-yr surrender

Par: 46% · 1-yr

Nasdaq Premier Index

participation

5-yr surrender

Par: 46% · 1-yr

NYSE Premier Index

participation

5-yr surrender

Par: 45% · 1-yr

S&P 500 Advantage 15% VT TCA Index (USD) ER

participation

5-yr surrender

Par: 40% · 1-yr

BlackRock Adaptive US Equity 15% Index

participation

5-yr surrender

Par: 34% · 1-yr

S&P 500 Index

participation

5-yr surrender

Cap: 7.5% · 1-yr

S&P 500 Index

Performance Rate Rider · cap

5-yr surrender

Cap: 7% · 1-yr

Nasdaq Premier Index

cap

5-yr surrender

Cap: 7% · 1-yr

NYSE Premier Index

cap

5-yr surrender

Cap: 6.5% · 1-yr

S&P 500 Advantage 15% VT TCA Index (USD) ER

cap

5-yr surrender

Cap: 5% · 1-yr

Nasdaq-100 Index

cap

5-yr surrender

Cap: 4.75% · 1-yr

S&P 500 Index

cap

5-yr surrender

Cap: 4.75% · 1-yr

Dow Jones Industrial Average

cap

5-yr surrender

Cap: 3.1% · 1-yr

S&P 500 Index

Monthly Point to Point with Performance Rate Rider · monthly_sum_cap

5-yr surrender

Fixed: 2.85% · 1-yr

Fixed Account

fixed

5-yr surrender

Cap: 2.1% · 1-yr

S&P 500 Index

Monthly Point to Point · monthly_sum_cap

5-yr surrender

Par: 195% · 1-yr

S&P 500 Dividend Aristocrats Daily Risk Control 5% Index (USD) Excess Return

Performance Rate Rider

Par: 140% · 1-yr

BNP Paribas Patriot Technology Index

Performance Rate Rider

Par: 130% · 1-yr

S&P 500 Dividend Aristocrats Daily Risk Control 5% Index (USD) Excess Return

Par: 100% + Fixed: 5.75% · 1-yr

Nasdaq Premier Index

Par: 100% + Fixed: 5.5% · 1-yr

S&P 500 Advantage 15% VT TCA Index (USD) ER

Par: 100% + Fixed: 4% · 1-yr

S&P 500 Index

Par: 100% + Fixed: 4.25% · 1-yr

Dow Jones Industrial Average

Par: 100% + Fixed: 4.5% · 1-yr

Nasdaq-100 Index

Par: 90% · 1-yr

BNP Paribas Patriot Technology Index

Par: 70% · 1-yr

Nasdaq Premier Index

Performance Rate Rider

Par: 70% · 1-yr

NYSE Premier Index

Performance Rate Rider

Par: 70% · 1-yr

S&P 500 Advantage 15% VT TCA Index (USD) ER

Performance Rate Rider

Par: 65% · 1-yr

BlackRock Adaptive US Equity 15% Index

Performance Rate Rider

Par: 50% · 1-yr

S&P 500 Index

Performance Rate Rider

Par: 46% · 1-yr

Nasdaq Premier Index

Par: 46% · 1-yr

NYSE Premier Index

Par: 45% · 1-yr

S&P 500 Advantage 15% VT TCA Index (USD) ER

Par: 40% · 1-yr

BlackRock Adaptive US Equity 15% Index

Par: 34% · 1-yr

S&P 500 Index

Cap: 7.5% · 1-yr

S&P 500 Index

Performance Rate Rider

Cap: 7% · 1-yr

Nasdaq Premier Index

Cap: 7% · 1-yr

NYSE Premier Index

Cap: 6.5% · 1-yr

S&P 500 Advantage 15% VT TCA Index (USD) ER

Cap: 5% · 1-yr

Nasdaq-100 Index

Cap: 4.75% · 1-yr

S&P 500 Index

Cap: 4.75% · 1-yr

Dow Jones Industrial Average

Cap: 3.1% · 1-yr

S&P 500 Index

Monthly Point to Point with Performance Rate Rider

Fixed: 2.85% · 1-yr

Fixed Account

Cap: 2.1% · 1-yr

S&P 500 Index

Monthly Point to Point

Income riders

Accumulation-focused — no income rider

This contract is designed for tax-deferred accumulation, not guaranteed lifetime income. No GLWB rider was returned because none is part of the contract design — compare against other accumulation FIAs on cap, participation rate, and surrender terms rather than lifetime income.

Key Features

Free withdrawal

10%/yr

Annual amount that may be available without surrender charges, subject to contract terms.

Surrender waivers

2

Nursing home waiver, Terminal illness waiver

Premium bonus

7%

Bonus terms can vary by state, premium band, and rider election.

Death benefit

Death Benefit

Beneficiary value depends on contract terms, withdrawals, and rider elections.

Strategy guarantee

Minimum guaranteed cap: 0.50%

Strategy guarantee

Minimum guaranteed declared rate: 1.00%

Strategy guarantee

Guaranteed minimum interest rate (fixed): 0.50%

Annuitization options

Single and joint

Contract conversion options should be confirmed before purchase.

Fund types

Non-qualified, Qualified

Availability can vary by state and product terms.

Surrender schedule

Yr 1

9.1%

Yr 2

9%

Yr 3

8%

Yr 4

7%

Yr 5

6%

After

0%

Nursing home waiver, Terminal illness waiver, Surrender waivers

Documents

product guide

American Equity AssetShield Bonus 5 - Option 3 brochure pdf.pdf

Confidence: highReviewed Apr 2, 2026

Direct link not published — request the document from the carrier.

Carrier Ratings

AM BestA
S&PA
S&PA

Contract notes from product data

Crediting design

How the interest-crediting choices are framed

American Equity AssetShield Bonus 5 - Option 3 currently shows 29 distinct indexed or fixed crediting choices across 58 current rate listings, including S&P 500 Index, with 15 volatility-controlled index options grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, and renewal terms are different mechanics and should not be ranked as one simple rate list.

  • S&P 500 Index: 4.75% cap
  • S&P 500 Index: 7.5% cap
  • S&P 500 Index: 2.1% cap

Liquidity terms

Why access rules deserve as much attention as rates

A fixed indexed annuity can preserve more control than an income-only contract, but access is still governed by the surrender schedule, free-withdrawal terms, and waiver language. Those details are where many product comparisons become more meaningful than a simple rate list.

  • 10%/yr free withdrawal
  • 5 surrender years
  • Nursing home waiver
  • Terminal illness waiver

Verification note

Use carrier materials as term evidence, then confirm the current version

Carrier materials such as American Equity AssetShield Bonus 5 - Option 3 brochure pdf.pdf help explain the contract language behind the data on this page; the latest document activity we see is Apr 8, 2026. For the current brochure, rate sheet, or specimen contract, confirm the state-specific version with the carrier or a licensed financial professional.

  • Rates and rider terms can vary by state and issue age
  • Carrier guarantees depend on claims-paying ability
  • Current contract forms should be confirmed before purchase

Free Comparison Report

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