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Fixed Indexed Annuity

American Equity IncomeShield 10

American Equity Investment Life Insurance Company

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5.75%

Best S&P 500 Annual Cap

10%

Free W/D

49

Available jurisdictions

Product data status: July 16, 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.

Model this product

See what American Equity IncomeShield 10 would do for you

Set your numbers and switch between growth, income, and liquidity. Index losses credit 0% — the floor — so a down market never reduces your value.

Product analyzer
Illustrative — live CANNEX rates as of July 16, 2026; not a projection or guarantee.
Crediting strategy
Compare against
$251,898
Est. value at age 80 (American Equity IncomeShield 10)
5.75%
Best S&P 500 1-yr point-to-point cap
Dow Jones Industrial Average — 6% Cap (Annual)
✦
How crediting works: the cap limits positive index returns; a down year credits 0%, never a loss. A cap strategy tracks the index within its terms. What is a cap vs participation? →
Assumptions: illustrative — applies American Equity IncomeShield 10's published cap rate (6% on Dow Jones Industrial Average) to a standard benchmark hypothetical index path (~5.4%/yr average, including down years) with a 0% floor over 20 years. Not a projection, quote, or guarantee. Live CANNEX rates as of July 16, 2026.

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See how American Equity IncomeShield 10 compares for your age, state, premium, and income goals alongside other American Equity Investment Life Insurance Company fixed indexed annuity options.

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Live rate data

Run live numbers for American Equity IncomeShield 10

Current rates, riders, crediting strategies, state availability, and contract facts stay scoped to this American Equity Investment Life Insurance Company product.

Live product data

Rates as of July 16, 2026, from AdvisorWorld and CANNEX.

GLWB lifetime payout rate

5.35% lifetime payout + 10% roll-up

A ten-year-surrender fixed indexed annuity from an A-rated carrier — the long-deferral flagship of American Equity's IncomeShield income FIA family — built around an optional Lifetime Income Benefit Rider with Wellbeing Benefit that carries a published lifetime withdrawal rate and an annual fee on the income base, with a broad cap-, participation-, and trigger-led index menu underneath spanning S&P 500, Nasdaq-100, Dow Jones, and several proprietary volatility-controlled indexes.

1.2% annual rider feeAdvisorWorld + CANNEX data

Best fit

Income-focused buyers committing to a full ten-year deferral who want a contractually published GLWB withdrawal rate from a recognizable income-FIA series, value the longer surrender commitment for a richer income outcome over the shorter-surrender IncomeShield 7 and IncomeShield 9 siblings, and want RMD-friendly rider mechanics on qualified retirement money from an A-rated carrier with multi-agency strength coverage.

AM Best

A Excellent

Surrender period

10 years

Free withdrawal

10%/yr

Availability

49 jurisdictions (excl. California, New York)

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

5.75% cap rate

Annual cap

1-year term · 10-year surrender · Does not vary by premium

S&P 500

S&P 500 Index

Monthly Point to Point · monthly sum cap

2.5% cap rate

Monthly cap

1-year term · 10-year surrender · Does not vary by premium

S&P 500

S&P 500 Index

5% trigger rate

Performance trigger

1-year term · 10-year surrender · Does not vary by premium

S&P 500

S&P 500 Index

42% participation rate

Participation

1-year term · 10-year surrender · Does not vary by premium

S&P 500

S&P 500 Index

12.75% cap rate

Cap strategy

2-year term · 10-year surrender · Does not vary by premium

S&P 500

S&P 500 Index

55% participation rate

Participation

2-year term · 10-year surrender · Does not vary by premium

Nasdaq-100

Nasdaq-100 Index

6.25% cap rate

Annual cap

1-year term · 10-year surrender · Does not vary by premium

Nasdaq-100

Nasdaq-100 Index

5.5% trigger rate

Performance trigger

1-year term · 10-year surrender · Does not vary by premium

Dow Jones

Dow Jones Industrial Average

6% cap rate

Annual cap

1-year term · 10-year surrender · Does not vary by premium

Dow Jones

Dow Jones Industrial Average

5.25% trigger rate

Performance trigger

1-year term · 10-year surrender · Does not vary by premium

Fixed Account

Fixed Account

3.5% declared rate

Fixed account

1-year term · 10-year surrender · Does not vary by premium

+ 19 additional crediting options (BlackRock, S&P 500, Nasdaq Premier...)

Lifetime Income Riders

Income rider

Income Benefit Rider with Wellbeing Benefit

Lifetime payout rate5.35% lifetime payout
Annual rider fee1.2% annual rider fee
Guaranteed roll-up10%/yr

Product analyst notes

How to think about this contract

Why it can stand out

  • Lifetime income comes via a real, optional Guaranteed Lifetime Withdrawal Benefit — the Lifetime Income Benefit Rider with Wellbeing Benefit — with a published withdrawal-rate column a buyer can compare side-by-side against rider-led income offers from other carriers, on the longest surrender chassis American Equity offers in the IncomeShield series (ten years versus the seven-year IncomeShield 7 and the nine-year IncomeShield 9 in the same family).
  • The income rider is RMD-friendly in the live feed, which matters for qualified retirement money that must satisfy required minimum distributions — buyers using this for IRA or 401(k) rollover money do not have to choose between rider income and meeting the RMD.
  • Index menu underneath the income story spans recognizable annual cap exposure on the S&P 500, Nasdaq-100, and Dow Jones Industrial Average alongside several volatility-controlled and sector indexes (NYSE Premier, Nasdaq Premier, BlackRock Adaptive US Equity 5%, S&P 500 Dividend Aristocrats), with cap, participation-rate, and performance-trigger crediting mechanics all available inside the same contract, plus an optional two-year crediting cadence on most strategies for a higher cap or participation rate.
  • Standard annual free-withdrawal allowance plus surrender-charge waivers for nursing-home and terminal-illness events are written into the base contract, and carrier financial strength is rated by more than one independent agency, so the strength view on the page is not a single-source read.

What to confirm

  • The income rider carries an explicit annual fee charged on the income base, not on the account value. Effective cost can run higher than the headline fee rate suggests as the income base outgrows the account value over deferral — read the rider fee in the context of how long the buyer plans to defer before turning on income, not as a flat percentage of the deposit.
  • The full ten-year surrender ladder is the longest in the IncomeShield series, but this contract does NOT include a premium bonus on the income base — IncomeShield Bonus 10 pairs the same ten-year chassis with an up-front bonus that pumps up the rider's income base, and IncomeShield 9 (the nine-year sibling) also carries a bonus on the income base. IncomeShield 7 rides the same income mechanism on a shorter seven-year chassis with no bonus. A buyer drawn to the long deferral specifically for a bigger income outcome should compare this contract's withdrawal rate side-by-side against IncomeShield Bonus 10 — the longer-deferral economics are different when a premium bonus is added — and a buyer who cannot commit for the full ten years should look at the IncomeShield 7 and IncomeShield 9 filings on the same page-set rather than defaulting to this one.
  • Several of the alternative indexes on the accumulation menu are proprietary, volatility-controlled, or sector-concentrated (NYSE Premier, Nasdaq Premier, BlackRock Adaptive US Equity 5%, S&P 500 Dividend Aristocrats). 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 remember the index credits feed the account value, not the rider's income base, so they are a secondary lever beneath the income story.
  • The contract is not available in every state — Missouri is excluded from the current filing — and the death benefit is the standard cash-surrender-value design with no roll-up or step-up on the account value. Buyers prioritizing a guaranteed legacy bump beyond what cash surrender delivers should evaluate that separately; the rider's income base is a living-benefit construct and does not by itself create a death-benefit roll-up.

Not ideal for

Buyers who want a Protected Income Value chassis with no separate rider fee (this contract delivers income through an optional GLWB rider with its own fee column, not through PIV), need shorter-than-ten-year liquidity (look at the IncomeShield 7 or IncomeShield 9 filings instead), want an up-front premium bonus on the income base (the IncomeShield Bonus 10 sibling pairs the same chassis with a bonus and is a separate filing), prefer a plain MYGA-style declared rate without any optional rider, or live in Missouri (the contract is not currently filed there) — none of those are what IncomeShield 10 is built to deliver.

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See how American Equity IncomeShield 10 compares for your age, state, premium, and income goals alongside other American Equity Investment Life Insurance Company fixed indexed annuity options.

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All crediting strategies

View rate listings (30 strategies)

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

Par: 165% · 1-yr

BlackRock Adaptive US Equity 5% Index

participation

10-yr surrenderDoes not vary by premium

Par: 160% · 1-yr

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

participation

10-yr surrenderDoes not vary by premium

Par: 56% · 1-yr

Nasdaq Premier Index

participation

10-yr surrenderDoes not vary by premium

Par: 56% · 1-yr

NYSE Premier Index

participation

10-yr surrenderDoes not vary by premium

Par: 56% · 1-yr

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

participation

10-yr surrenderDoes not vary by premium

Par: 42% · 1-yr

S&P 500 Index

participation

10-yr surrenderDoes not vary by premium

Cap: 25% · 1-yr

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

cap

10-yr surrenderDoes not vary by premium

Cap: 9% · 1-yr

Nasdaq Premier Index

cap

10-yr surrenderDoes not vary by premium

Cap: 9% · 1-yr

NYSE Premier Index

cap

10-yr surrenderDoes not vary by premium

Cap: 9% · 1-yr

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

cap

10-yr surrenderDoes not vary by premium

Trigger: 7% · 1-yr

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

trigger

10-yr surrenderDoes not vary by premium

Trigger: 7% · 1-yr

Nasdaq Premier Index

trigger

10-yr surrenderDoes not vary by premium

Cap: 6.25% · 1-yr

Nasdaq-100 Index

cap

10-yr surrenderDoes not vary by premium

Cap: 6% · 1-yr

Dow Jones Industrial Average

cap

10-yr surrenderDoes not vary by premium

Cap: 5.75% · 1-yr

S&P 500 Index

cap

10-yr surrenderDoes not vary by premium

Trigger: 5.5% · 1-yr

Nasdaq-100 Index

trigger

10-yr surrenderDoes not vary by premium

Trigger: 5.25% · 1-yr

Dow Jones Industrial Average

trigger

10-yr surrenderDoes not vary by premium

Trigger: 5% · 1-yr

S&P 500 Index

trigger

10-yr surrenderDoes not vary by premium

Fixed: 3.5% · 1-yr

Fixed Account

fixed

10-yr surrenderDoes not vary by premium

Cap: 2.5% · 1-yr

S&P 500 Index

Monthly Point to Point · monthly_sum_cap

10-yr surrenderDoes not vary by premium

Par: 245% · 2-yr

BlackRock Adaptive US Equity 5% Index

participation

10-yr surrenderDoes not vary by premium

Par: 225% · 2-yr

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

participation

10-yr surrenderDoes not vary by premium

Par: 80% · 2-yr

Nasdaq Premier Index

participation

10-yr surrenderDoes not vary by premium

Par: 80% · 2-yr

NYSE Premier Index

participation

10-yr surrenderDoes not vary by premium

Par: 80% · 2-yr

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

participation

10-yr surrenderDoes not vary by premium

Par: 55% · 2-yr

S&P 500 Index

participation

10-yr surrenderDoes not vary by premium

Cap: 25% · 2-yr

Nasdaq Premier Index

cap

10-yr surrenderDoes not vary by premium

Cap: 25% · 2-yr

NYSE Premier Index

cap

10-yr surrenderDoes not vary by premium

Cap: 25% · 2-yr

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

cap

10-yr surrenderDoes not vary by premium

Cap: 12.75% · 2-yr

S&P 500 Index

cap

10-yr surrenderDoes not vary by premium

Income riders

Income rider

Lifetime Income Benefit Rider with Wellbeing Benefit

Lifetime withdrawal rate5.35%
Annual rider fee1.2%
Guaranteed roll-up10%/yr
Deferral assumed10 years

GLWB

Linked review

American Equity IncomeShield 10 review notes

Explore the features, rates, and riders of the American Equity IncomeShield 10 Fixed Indexed Annuity. Is it right for your retirement goals?

4/5Read review
Nikhil Bhauwala

Common questions about American Equity IncomeShield 10

● Can I lose money in American Equity IncomeShield 10?

A negative index return by itself does not reduce the contract's account value: American Equity IncomeShield 10 credits 0% — the floor — for that indexed period. The account value can still decrease from applicable rider fees, Performance Rate Rider or other strategy charges, administrative charges, withdrawals, surrender charges, or other contract-specific deductions. In years with no credited interest, those deductions can reduce the account value. Up to 10% of your value can be withdrawn each year without a charge; withdrawals above the penalty-free amount during the surrender period can incur a surrender charge.

● Is the Lifetime Income Benefit Rider with Wellbeing Benefit income rider worth the 1.2% fee?

It depends on whether you will use the guaranteed income. If you are accumulating only, you can skip it. If you want guaranteed lifetime income later, the 10% roll-up and 5.35% withdrawal rate can make it worthwhile — model it in the Income tab of the analyzer above.

● When can I access my money without a surrender charge?

Up to 10% of your account value each year is penalty-free. The scheduled surrender charges run 10 years; after that the surrender-charge schedule ends. Bonus vesting, market value adjustments when applicable, and other contract rules can still affect the amount available. The Liquidity tab of the analyzer shows the year-by-year surrender charge.

● How do American Equity IncomeShield 10's crediting strategies compare?

Use "Compare against" in the analyzer to overlay another current American Equity IncomeShield 10 strategy on the same premium, age, years, and hypothetical index path. The control labels the strategy type, rate, index, and context so caps, participation rates, triggers, spreads, and fixed-account choices are not treated as interchangeable.

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.

Cap-rate floor

0.50%

Minimum guaranteed cap for cap-based indexed strategies.

Declared-rate floor

1.00%

Minimum guaranteed declared rate for declared-rate or performance-trigger strategies.

Fixed account guarantee

0.50%

Guaranteed minimum interest rate for the fixed account.

Participation-rate floor

10.00%

Minimum guaranteed participation rate for participation-rate indexed strategies.

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

brochure

American Equity IncomeShield 10 Sales Brochure.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 IncomeShield 10 currently shows 30 indexed or fixed crediting options, including S&P 500 Index, with 19 volatility-controlled index options grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, renewal terms, and fee-bearing rider variants are different mechanics and should not be ranked as one simple rate list.

  • S&P 500 Index: 5.75% annual cap
  • S&P 500 Index: 2.5% monthly point-to-point cap
  • S&P 500 Index: 100% annual participation rate
  • S&P 500 Index: 42% annual participation rate

Income rider language

What to look for before treating the rider as income

Lifetime Income Benefit Rider with Wellbeing Benefit is the main income rider listed 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.

  • 5.35% withdrawal rate
  • 1.2% rider fee
  • 10 deferral years

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 IncomeShield 10 Sales Brochure.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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See how American Equity IncomeShield 10 compares for your age, state, premium, and income goals alongside other American Equity Investment Life Insurance Company fixed indexed annuity options.

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