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Fixed Indexed Annuity

American Equity IncomeShield Bonus 10

American Equity Investment Life Insurance Company

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3.25%

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 Bonus 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
$195,877
Est. value at age 80 (American Equity IncomeShield Bonus 10)
14%
Premium bonus offered
Dow Jones Industrial Average — 3.25% 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 Bonus 10's published cap rate (3.25% 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. Growth starts from a bonus-adjusted illustrative account value: $100,000 premium + $14,000 premium bonus (14%) = $114,000. Bonus vesting and withdrawal treatment follow the contract. Not a projection, quote, or guarantee. Live CANNEX rates as of July 16, 2026.

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See how American Equity IncomeShield Bonus 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 Bonus 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.

Lifetime withdrawal rate (GLWB rider)

4.28% lifetime payout + 6.5% roll-up

An income-led, ten-year-surrender fixed indexed annuity from American Equity built around an optional Lifetime Income Benefit Rider with Wellbeing Benefit, paired with a premium bonus that pumps up the rider's income base and a broad crediting menu spanning recognizable S&P 500, Nasdaq-100, and Dow Jones cap strategies plus several proprietary volatility-controlled indexes.

1.2% annual rider feeAdvisorWorld + CANNEX data

Best fit

Buyers planning for lifetime income who want a rider-led FIA with a meaningful premium bonus boosting the rider's income base, can commit to the full ten-year surrender period, and want to choose between two Wellbeing Benefit options (a current-payout flavor and a longer-deferral flavor) on single- or joint-life from a recognized-agency-rated carrier.

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

3.25% 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

1.3% cap rate

Monthly cap

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

S&P 500

S&P 500 Index

2.75% trigger rate

Performance trigger

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

S&P 500

S&P 500 Index

20% participation rate

Participation

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

S&P 500

S&P 500 Index

7% cap rate

Cap strategy

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

S&P 500

S&P 500 Index

30% participation rate

Participation

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

Nasdaq-100

Nasdaq-100 Index

3.5% cap rate

Annual cap

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

Nasdaq-100

Nasdaq-100 Index

3.25% trigger rate

Performance trigger

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

Dow Jones

Dow Jones Industrial Average

3.25% cap rate

Annual cap

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

Dow Jones

Dow Jones Industrial Average

3% trigger rate

Performance trigger

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

Fixed Account

Fixed Account

2% declared rate

Fixed account

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

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

Lifetime Income Riders

Income rider

Income Benefit Rider with Wellbeing Benefit Option 2

Lifetime payout rate4.28% lifetime payout
Annual rider fee1.2% annual rider fee
Guaranteed roll-up6.5%/yr

Income rider

Income Benefit Rider with Wellbeing Benefit Option 1

Lifetime payout rate3.62% 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 runs through a real, optional GLWB rider — the Lifetime Income Benefit Rider with Wellbeing Benefit — so the lifetime withdrawal rate is contractually attached to the rider and is directly comparable to other rider-led income FIAs. Buyers can choose between two Wellbeing Benefit options (Option 1 and Option 2), each available on single- or joint-life, so the rider can be tuned to the buyer's deferral horizon and survivor plan.
  • The contract carries a meaningful premium bonus credited at issue, which boosts the rider's income base and accelerates the lifetime-income story for buyers who plan to turn on the GLWB rather than walk away with the account value. This is the structural difference between IncomeShield Bonus 10 and the no-bonus IncomeShield filings — it is built to maximize rider-based income, not account-value growth.
  • Crediting menu is unusually broad for an income-led FIA: a fixed account, recognizable annual point-to-point cap and participation strategies on the S&P 500, Nasdaq-100, Dow Jones Industrial Average, plus longer two-year options and several proprietary volatility-controlled indexes (S&P 500 Dividend Aristocrats Daily Risk Control 5%, BlackRock Adaptive US Equity 5%, S&P 500 Advantage 15% VT TCA, Nasdaq Premier, NYSE Premier) — so the underlying account value backing the rider has both like-for-like S&P 500 comparability and higher-participation alternatives.
  • Carrier financial strength is rated by recognized agencies (A.M. Best and S&P) and the contract is filed broadly across U.S. jurisdictions, with nursing-home and terminal-illness waivers plus an annual free-withdrawal allowance built in for liquidity during the surrender period.

What to confirm

  • The premium bonus is the contract's headline marketing feature, but it is a structural tradeoff — the bonus is credited into the rider's income base (or the account value subject to a vesting schedule) in exchange for the longest surrender term in the IncomeShield family. Buyers who surrender the contract early or who never turn on the GLWB rider may not realize the full economic value of the bonus.
  • The income story is a rider, not a base-contract guarantee — its lifetime withdrawal rate, deferral mechanics, and rider fee are CONTRACTUAL TERMS of the rider, and the rider fee is deducted from the account value annually for as long as the rider is attached. Compare the rider's fee and payout terms together, not the headline rate alone; recognize that the Wellbeing Benefit Option 2 variant trades a longer deferral requirement for a different payout profile; and note the base contract carries a standard cash-value death benefit, not a rolled-up income-base death benefit, so heirs receive account value net of any surrender charge rather than the rider's income base.
  • Long-surrender contract — the surrender ladder is the full ten years the 'Bonus 10' name implies, with a steep first-year charge that grades down only gradually. The annual free-withdrawal allowance plus the nursing-home and terminal-illness waivers are the only built-in liquidity outlets during that window; this is a long-deferral commitment with real penalty for early exit.
  • Several index options (S&P 500 Dividend Aristocrats Daily Risk Control 5%, BlackRock Adaptive US Equity 5%, S&P 500 Advantage 15% VT TCA, Nasdaq Premier, NYSE Premier) are proprietary volatility-controlled or excess-return indexes. Their participation rates can look high in absolute terms but are not directly comparable to an S&P 500 annual cap — evaluate each on its own historical and forward characteristics rather than the participation number alone.

Not ideal for

Buyers who need short-surrender liquidity, plan to walk away with the account value rather than turn on the GLWB rider (the bonus is built into the income base, not a free upgrade to account value), want a no-rider PIV-style built-in income mechanism, expect an enhanced or rolled-up death benefit, or need a plain MYGA-style declared rate — none of those are what this contract is built to deliver.

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See how American Equity IncomeShield Bonus 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: 95% · 1-yr

BlackRock Adaptive US Equity 5% Index

participation

10-yr surrenderDoes not vary by premium

Par: 85% · 1-yr

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

participation

10-yr surrenderDoes not vary by premium

Par: 32% · 1-yr

Nasdaq Premier Index

participation

10-yr surrenderDoes not vary by premium

Par: 32% · 1-yr

NYSE Premier Index

participation

10-yr surrenderDoes not vary by premium

Par: 30% · 1-yr

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

participation

10-yr surrenderDoes not vary by premium

Par: 20% · 1-yr

S&P 500 Index

participation

10-yr surrenderDoes not vary by premium

Cap: 7.5% · 1-yr

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

cap

10-yr surrenderDoes not vary by premium

Cap: 4.5% · 1-yr

Nasdaq Premier Index

cap

10-yr surrenderDoes not vary by premium

Cap: 4.5% · 1-yr

NYSE Premier Index

cap

10-yr surrenderDoes not vary by premium

Trigger: 4% · 1-yr

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

trigger

10-yr surrenderDoes not vary by premium

Trigger: 4% · 1-yr

Nasdaq Premier Index

trigger

10-yr surrenderDoes not vary by premium

Cap: 3.75% · 1-yr

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

cap

10-yr surrenderDoes not vary by premium

Cap: 3.5% · 1-yr

Nasdaq-100 Index

cap

10-yr surrenderDoes not vary by premium

Cap: 3.25% · 1-yr

S&P 500 Index

cap

10-yr surrenderDoes not vary by premium

Cap: 3.25% · 1-yr

Dow Jones Industrial Average

cap

10-yr surrenderDoes not vary by premium

Trigger: 3.25% · 1-yr

Nasdaq-100 Index

trigger

10-yr surrenderDoes not vary by premium

Trigger: 3% · 1-yr

Dow Jones Industrial Average

trigger

10-yr surrenderDoes not vary by premium

Trigger: 2.75% · 1-yr

S&P 500 Index

trigger

10-yr surrenderDoes not vary by premium

Fixed: 2% · 1-yr

Fixed Account

fixed

10-yr surrenderDoes not vary by premium

Cap: 1.3% · 1-yr

S&P 500 Index

Monthly Point to Point · monthly_sum_cap

10-yr surrenderDoes not vary by premium

Par: 145% · 2-yr

BlackRock Adaptive US Equity 5% Index

participation

10-yr surrenderDoes not vary by premium

Par: 125% · 2-yr

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

participation

10-yr surrenderDoes not vary by premium

Par: 45% · 2-yr

Nasdaq Premier Index

participation

10-yr surrenderDoes not vary by premium

Par: 45% · 2-yr

NYSE Premier Index

participation

10-yr surrenderDoes not vary by premium

Par: 45% · 2-yr

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

participation

10-yr surrenderDoes not vary by premium

Par: 30% · 2-yr

S&P 500 Index

participation

10-yr surrenderDoes not vary by premium

Cap: 11% · 2-yr

Nasdaq Premier Index

cap

10-yr surrenderDoes not vary by premium

Cap: 11% · 2-yr

NYSE Premier Index

cap

10-yr surrenderDoes not vary by premium

Cap: 9% · 2-yr

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

cap

10-yr surrenderDoes not vary by premium

Cap: 7% · 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 Option 2

Lifetime withdrawal rate4.28%
Annual rider fee1.2%
Guaranteed roll-up6.5%/yr
Deferral assumed10 years

GLWB

Income rider

Lifetime Income Benefit Rider with Wellbeing Benefit Option 1

Lifetime withdrawal rate3.62%
Annual rider fee1.2%
Guaranteed roll-up10%/yr
Deferral assumed10 years

GLWB

Common questions about American Equity IncomeShield Bonus 10

● Can I lose money in American Equity IncomeShield Bonus 10?

A negative index return by itself does not reduce the contract's account value: American Equity IncomeShield Bonus 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 Option 2 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 6.5% roll-up and 4.28% 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 Bonus 10's crediting strategies compare?

Use "Compare against" in the analyzer to overlay another current American Equity IncomeShield Bonus 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

Premium bonus

14%

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

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

9.1%

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

2025-08-28_American_Equity_IncomeShield_BONUS_10_Brochure_09-03-2025.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 Bonus 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: 3.25% annual cap
  • S&P 500 Index: 1.3% monthly point-to-point cap
  • S&P 500 Index: 100% annual participation rate
  • S&P 500 Index: 20% annual participation rate

Income rider language

What to look for before treating the rider as income

Lifetime Income Benefit Rider with Wellbeing Benefit Option 2 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.

  • 4.28% 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 2025-08-28_American_Equity_IncomeShield_BONUS_10_Brochure_09-03-2025.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 Bonus 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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