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Fixed Indexed Annuity

American Equity EstateShield 10

American Equity Investment Life Insurance Company

4.25%

Best Cap

10%

Free W/D

47

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

6.15% lifetime payout

A ten-year-surrender fixed indexed annuity from an A-rated carrier on American Equity's EstateShield chassis, designed to combine a contractual lifetime withdrawal rate with an enhanced death benefit under a single optional GLWB rider election, with a recognizable S&P 500 annual point-to-point cap, two participation-rate allocations on proprietary volatility-controlled indexes (each available in 1-year and 2-year crediting cadences), and a declared-rate fixed account.

AdvisorWorld + CANNEX data

Best fit

Buyers who want one contract to deliver both a contractually guaranteed lifetime withdrawal rate and an enhanced death-benefit feature for heirs under a single optional rider election, are willing to commit to a full ten-year surrender term to fund the rider economics, and want the deferral phase to credit through a recognizable S&P 500 annual cap alongside longer-period participation-rate allocations and a fixed-account sleeve.

AM Best

A Excellent

Surrender period

10 years

Free withdrawal

10%/yr

Availability

47 jurisdictions

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

4.25% cap rate

S&P 500

S&P 500 Index

1.7% cap rate

S&P 500

S&P 500 Index

8.75% cap rate

Fixed Account

Fixed Account

2% declared rate

+ 4 volatility-controlled index options (S&P 500, BlackRock...)

Lifetime Income Riders

Income rider

LIBR with Wellbeing Benefit and Enhanced Death Benefit

Lifetime payout rate6.15% lifetime payout

Product analyst notes

How to think about this contract

Why it can stand out

  • Optional GLWB income rider is paired with an Enhanced Death Benefit feature in the same rider election — the rider is the carrier's combined income-and-legacy lever on the EstateShield chassis, and the contract is built so a buyer who elects the rider gets a contractual lifetime withdrawal rate plus a death-benefit enhancement under one charge rather than buying them separately.
  • Index menu pairs a recognizable S&P 500 Index annual point-to-point cap with participation-rate allocations on the S&P 500 Dividend Aristocrats Daily Risk Control 5% Index and the BlackRock Adaptive US Equity 5% Index, and most index strategies are offered in both a 1-year and a 2-year crediting cadence — buyers can mix one apples-to-apples S&P 500 cap with a longer-period, higher-participation allocation inside the same contract.
  • A declared-rate fixed account sits alongside the index strategies, so a buyer can park part of the premium in a non-indexed allocation without leaving the contract — useful for an income buyer who wants a portion of the account value insulated from index performance during deferral.
  • Carrier financial-strength is rated by more than one independent agency (A.M. Best and Standard & Poor's), so the strength view on this page is not a single-source read; standard nursing-home, terminal-illness, and surrender waivers are written into the base contract.

What to confirm

  • The contract's income story is the optional LIBR with Wellbeing Benefit and Enhanced Death Benefit rider, not a free feature of the base chassis — the rider is an elected add-on with its own charge that is deducted from the account value regardless of index performance, and the published withdrawal rate applies under the rider's age, deferral, and single-versus-joint rules. Buyers comparing a published withdrawal rate side-by-side with a no-rider PIV chassis or a different carrier's GLWB rider should account for the rider fee and the rate's eligibility rules, not the rate alone.
  • Surrender ladder runs a full ten years before reaching zero — the longest in American Equity's EstateShield family and longer than the nine-year EstateShield 9 sibling. The ten-year lockup funds the richer rider economics and is the explicit tradeoff for the income-and-legacy combination, but a buyer who needs liquidity inside ten years should weigh that explicitly.
  • Several index strategies are participation-rate allocations on proprietary volatility-controlled excess-return indexes (S&P 500 Dividend Aristocrats Daily Risk Control 5%, BlackRock Adaptive US Equity 5%). Their participation rates can look high in absolute terms but are not directly comparable to an S&P 500 cap — evaluate each strategy on its own merits, and read the 2-year participation rates as a two-year credit, not an annualized number.
  • The 'Enhanced Death Benefit' on this contract is part of the optional rider election, not a free standalone feature — the base-contract death benefit is the carrier's standard death benefit. Buyers who decline the rider should not expect the enhanced legacy mechanism, and the enhancement's mechanics (roll-up versus step-up, eligibility, recapture on partial withdrawals) live in the rider terms, so read the rider document before reading any death-benefit number on this page.

Not ideal for

Buyers who need the income mechanism built into the base contract without an optional rider charge (a PIV chassis is a different design), want a shorter surrender commitment than ten years (the nine-year EstateShield 9 is filed in California only), or want the death-benefit enhancement as a free standalone feature rather than as part of the rider election — none of those are what EstateShield 10 is built to deliver.

All crediting strategies

View rate listings (16 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: 110% · 1-yr

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

participation

10-yr surrender

Par: 110% · 1-yr

BlackRock Adaptive US Equity 5% Index

participation

10-yr surrender

Cap: 4.25% · 1-yr

S&P 500 Index

cap

10-yr surrender

Fixed: 2% · 1-yr

Fixed Account

fixed

10-yr surrender

Cap: 1.7% · 1-yr

S&P 500 Index

Monthly Point to Point · monthly_sum_cap

10-yr surrender

Par: 160% · 2-yr

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

participation

10-yr surrender

Par: 160% · 2-yr

BlackRock Adaptive US Equity 5% Index

participation

10-yr surrender

Cap: 8.75% · 2-yr

S&P 500 Index

cap

10-yr surrender

Par: 110% · 1-yr

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

Par: 110% · 1-yr

BlackRock Adaptive US Equity 5% Index

Cap: 4.25% · 1-yr

S&P 500 Index

Fixed: 2% · 1-yr

Fixed Account

Cap: 1.7% · 1-yr

S&P 500 Index

Monthly Point to Point

Par: 160% · 2-yr

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

Par: 160% · 2-yr

BlackRock Adaptive US Equity 5% Index

Cap: 8.75% · 2-yr

S&P 500 Index

Income riders

Income rider

LIBR with Wellbeing Benefit and Enhanced Death Benefit

Lifetime withdrawal rate6.15%
Annual rider feeNot shown
Withdrawal-base growthNot shown
Deferral assumed0 years
Issue age50 — 120

GLWB

Income rider

LIBR with Wellbeing Benefit and Enhanced Death Benefit

Lifetime withdrawal rate6.1%
Annual rider feeNot shown
Withdrawal-base growthNot shown
Deferral assumed0 years
Issue age50 — 120

GLWB

Linked review

American Equity EstateShield 10 review notes

Explore the American Equity EstateShield 10 Fixed Indexed Annuity, its features, riders, rates, and company details for retirement planning.

4/5Read review
Nikhil Bhauwala

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

Death benefit

Standard Death Benefit

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

Strategy guarantee

Minimum guaranteed cap: 0.50%

Strategy guarantee

Guaranteed minimum interest rate (fixed): 0.50%

Strategy guarantee

Minimum guaranteed participation: 10.00%

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

9.2%

Yr 2

9%

Yr 3

8%

Yr 4

7%

Yr 5

6%

Yr 6

5%

Yr 7

4%

Yr 8

3%

Yr 9

2%

Yr 10

1%

After

0%

Nursing home waiver, Terminal illness waiver, Surrender waivers

Documents

product guide

American Equity EstateShield 10 Sales Brochure-3_compressed.pdf

Confidence: highReviewed Apr 5, 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 EstateShield 10 currently shows 8 distinct indexed or fixed crediting choices across 16 current rate listings, including S&P 500 Index and S&P 500 Dividend Aristocrats Daily Risk Control 5% Index (USD) Excess Return, with 2 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: 4.25% cap
  • S&P 500 Index: 1.7% cap
  • S&P 500 Dividend Aristocrats Daily Risk Control 5% Index (USD) Excess Return: 110% participation

Income rider language

What to look for before treating the rider as income

LIBR with Wellbeing Benefit and Enhanced Death Benefit is the main income-rider entry returned for this product. Rider terms can affect the tradeoff between future lifetime withdrawals, contract value, beneficiary value, and cost, so the exact state version and rider election should be confirmed before comparing it to annuitization or income-only contracts.

  • 6.15% withdrawal rate

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
  • 10 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 EstateShield 10 Sales Brochure-3_compressed.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

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