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Business Profile

Life Insurance

American Equity Investment Life Insurance Company

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Life Insurance.

Complaints

Customer Complaints Summary

  • 6 total complaints in the last 3 years.
  • 2 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:10/25/2024

    Type:Order Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    October 24, 2024 ***** *****, Deny of a Lifetime Benefit Rider Form $250000 original deposit

    Business Response

    Date: 10/25/2024

    See attached response

  • Initial Complaint

    Date:10/16/2024

    Type:Order Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Eagle Life/American Equity is the insurance company that handles my semi-annual annuity payments from my retirement account. There is something suspicious going on with my disbursements and I need BBB to investigate for me. See complete explanation below. Thank you.

    Business Response

    Date: 10/16/2024

    See attached response

  • Initial Complaint

    Date:04/29/2024

    Type:Product Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    My insurance agent and I attempted to change our allocations for the year on April 24, 2024. The American Equity rep told us your computer systems were down, and that we would receive a callback. No one called. American Equity has over $200,000 of our retirement money from our service to the federal government and the U.S. Armed Forces. The disdain in attending us as paying customers is dreadful, irresponsible, and insulting.Today, April 29th we called and were told by a different American Equity rep that his *************************** could not handle my account. and that the people trained to do so were busy with other callers. He told us that we would receive a callback, and again, no one called. These allocations which we can only change once a year at a specific date have not been processed. Additionally, there is no way to process this online. This company does not have or allow online access to its clients.

    Business Response

    Date: 04/30/2024

    Good Afternoon,

     

    We do not have a policyholder by the name of *************************** with the phone number given in VA, ************. We need additional information before we can investigate this matter further.

     

    Please advise.  Thank you.

    Customer Answer

    Date: 04/30/2024

    The Contract Numbers for the Annuities are:

    *************************** - F000233
    **************************** - F000196

     

    Business Response

    Date: 05/01/2024

    Attached are our response to your complaint ID ********.  Thank you for providing us the extra information so that we can reach out directly to the policyholders.

     

    Please let us know if you have any questions.

  • Initial Complaint

    Date:11/07/2023

    Type:Customer Service Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    American Equity customer account portal provides inaccurate account ************************************************** portal indicate withdrawals exceeding $13,000. verses actual account withdrawals. (Information via customer service this issue in not confined to my accounts).This has been an ongoing issue for several weeks and customer service is unable to provide any information for resolution. At this time no one from A/E has reached out to me regarding this problem.I have requested to speak with someone in authority, but customer service cannot direct me. I have tried to acquire the corporate phone number without any success.My accounts mature next month, which I will close, and concerned regarding final accounting.Request the *** or COO reach out to me and all policy holder experiencing this issue providing actual / factual information regarding resolution.

    Business Response

    Date: 11/07/2023

    See attached response

  • Initial Complaint

    Date:08/17/2023

    Type:Product Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    The annuity process was started in June 2023 and it is mid-August 2023 and I am yet to receive my annual annuity check as requested. I keep calling every week and I get the same response "being processed, will get check in 4-5 business days". On 08/17/2023 I was informed by the *** that they have been having system issues so they are unable to process my check. This is unaccepatable.

    Business Response

    Date: 08/18/2023

    Please see attached confirmation of receipt of complaint. We will respond directly to the consumer.  Thank you.

  • Initial Complaint

    Date:08/18/2022

    Type:Service or Repair Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I have an annuity product with American Equity Investment Life Insurance Company that matured on 8/13/2022. In preparation for this maturity, my agent reached out to American Equity Investment Life Insurance Company and asked what the process would be to transfer the funds to my brokerage account ensuring that there would be no surrender charges. American Equity Investment Life Insurance Company informed us that we should initiate the transfer and ensured us no surrender charges would incur. We came then to find out that since we did initiate this prior to 8/13, that in fact this was prior to the maturity date and all surrender charges applied. This prompted me and my agent to contact American Equity Investment Life Insurance Company to talk through the incorrect guidance. After some back and forth over a few calls, they admitted their error and we were going to process the check and send to Pershing LLC.Fast forward another four weeks and after several calls to American Equity Investment Life Insurance Company, the check has STILL not been issued. Thought they are insisting it will occur, I am confident that this is a systematic maneuver to either stall or not issue the check I was promised.For context, the amount of the surrender charge is $2,204.02 (plus the accrual of interest for a few weeks that is minimal, but I do not have the exact figure for)Me and my agent have been call American Equity Investment Life Insurance Company daily for an update.

    Business Response

    Date: 08/19/2022

    See attached doc

    Customer Answer

    Date: 08/24/2022

     
    Complaint: 17735118

    I am rejecting this response because no one had gotten back to me at this business.

    Sincerely,

    *******************************

    Business Response

    Date: 08/25/2022

    Correspondence was sent to ************************ on August 19, 2022 acknowledging this complaint. Our final response with resolution was sent to ************************ by mail on August 23, 2022. We consider this matter closed. Should you have any further questions, please contact ************************* at ************. Thank you.

    ***********************
    Resolution Analyst Resolution Department
    American Equity Investment Life Insurance Company
    ****************************************************************, **  50266
    *******************************************************
    Direct:  **************
    Fax:  **************
    www.american-equity.com
    The one who works for you!

American Equity Investment Life Insurance Company is NOT a BBB Accredited Business.

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