New indices and crediting options added for new
growth potential
American Equity Investment Life Insurance Company®, a leading
underwriter of fixed index annuities, announced a series of
enhancements to its flagship accumulation product, the AssetShield
fixed index annuity. This 5, 7, and 10-year annuity product line
now offers new equity and multi-asset index options, as well as the
choice to purchase a higher rate on crediting strategies for added
growth potential. The new benefits are the latest addition to
American Equity’s suite of annuities aimed at helping provide
clients safe asset growth choices and the dignity of securing a
guaranteed paycheck.
“We are excited to continue working with leading global
financial institutions to further round out our fixed index annuity
portfolio,” said American Equity Chief Executive Officer Anant
Bhalla. “These enhancements give clients new growth options and new
control of how their money works for them.”
New Index Options
In addition to the product’s original two S&P 500® Index
options, there are three new indices available for all of the
AssetShield index-linked crediting strategies.
“Each index was chosen for specific qualities, helping provide
diverse allocation strategy options as different markets react to
different market conditions,” said American Equity President Ron
Grensteiner.
BofA Destinations Index™ (Ticker: BOFADST5): Developed in
collaboration with Bank of America and exclusive to American
Equity, the volatility-controlled index tracks domestic equities,
treasuries and a gold index.
“The BofA Destinations Index™ is a rules-based strategy, and
combines three assets using two time-tested investment principles –
balanced risk and momentum,” noted Will Holligan, head of Americas
Insurance Solutions for Bank of America. “By balancing risk and
then seeking returns, this index aims to provide stable returns in
many market environments.”
Credit Suisse Tech Edge Index (Ticker: CSEATEDG): The
excess return index combines four U.S tech and biotech ETFs and two
fixed income components. It utilizes a cutting-edge volatility
control mechanism, powered by Salt Financial, to identify changing
market conditions using a combination of intraday and end-of-day
data.
Mike Ebert, head of equity derivatives at Credit Suisse,
commented, “We are very pleased to have worked in collaboration
with Salt Financial and American Equity to launch the Credit Suisse
Tech Edge Index, a differentiated and unique index solution powered
by the innovative truVol® engine. With a twofold focus on
technology, both in its design and in its equity thematic, this
innovative index aims at providing investors with an opportunity
for consistent performance across various market cycles.”
SG Global Sentiment Index (Ticker: SGIXSENT): This
multi-asset class index assesses market sentiments to determine
whether a market is in a growth, intermediate or shrinking phase.
Each phase is associated with an allocation across a global and
diverse asset base, including equities, bonds and commodities in
domestic, European and Asian markets.
New Rider Option
Clients now have a new option for magnified growth potential. In
exchange for a fee, this rider provides the opportunity to increase
the cap, participation rate or replacement rate on elected
index-linked crediting strategies. The rider fee is locked in for
the surrender charge schedule and deducted on the last day of each
term.
ABOUT AMERICAN EQUITY
American Equity Investment Life Insurance Company® is a
full-service underwriter of fixed annuity products, with a primary
emphasis on the sale of index annuities. Headquartered in West Des
Moines, Iowa, American Equity Investment Life Insurance Company is
committed to providing products with integrity, as well as superior
service to the agents it partners with and their policyholders. For
more information, please visit www.american-equity.com.
ABOUT BANK OF AMERICA
The BofA Destinations Index™ (the “Index”) has been created and
is owned by BofA Securities, Inc. and its Affiliates (collectively,
“BofAS”) and the Index has been licensed to American Equity
Investment Life Insurance Company (“American Equity”). Neither
American Equity nor any fixed index annuity (“Product”) is
sponsored, operated, endorsed, sold or promoted by BofAS.
Obligations to make payments under any Products are solely the
obligation of American Equity pursuant to the term of the contract
between American Equity and a purchaser, and are not the
responsibility of BofAS. BofAS indices and related information, the
name “BofAS”, and related trademarks, are intellectual property
licensed from BofAS, and may not be copied, used, or distributed
without BofAS’ prior written approval. The Products have not been
passed on as to their legality or suitability, and are not
regulated, issued, endorsed, sold, guaranteed, or promoted by
BofAS. BOFAS MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH
RESPECT TO THE INDICES, ANY RELATED INFORMATION, ITS TRADEMARKS, OR
THE PRODUCT(S) (INCLUDING WITHOUT LIMITATION, THEIR QUALITY,
ACCURACY, SUITABILITY AND/OR COMPLETENESS).
ABOUT CREDIT SUISSE
Credit Suisse is one of the world's leading financial services
providers. Our strategy builds on Credit Suisse's core strengths:
its position as a leading wealth manager, its specialist investment
banking capabilities and its strong presence in our home market of
Switzerland. We seek to follow a balanced approach to wealth
management, aiming to capitalize on both the large pool of wealth
within mature markets as well as the significant growth in wealth
in Asia Pacific and other emerging markets, while also serving key
developed markets with an emphasis on Switzerland. Credit Suisse
employs approximately 48,770 people. The registered shares (CSGN)
of Credit Suisse Group AG, are listed in Switzerland and, in the
form of American Depositary Shares (CS), in New York. Further
information about Credit Suisse can be found at
www.credit-suisse.com.
ABOUT SOCIETE GENERALE
Societe Generale is one of the largest European financial
services groups. It combines financial solidity with a strategy of
sustainable growth and employs 138,000 employees in 62 countries,
serving more than 29 million clients globally. Societe Generale’s
teams offer services to individual, corporate and institutional
customers in three core businesses: Retail banking in France,
International retail banking and Corporate and investment banking
(SG CIB).
Bottom-page disclosures
The Credit Suisse Tech Edge Index and “Credit Suisse”, and any
trademarks, service marks and logos related thereto are service
marks of Credit Suisse Group AG, Credit Suisse International, or
one of their affiliates (collectively, “Credit Suisse”). Credit
Suisse has no relationship to American Equity Investment Life
Insurance Company (“American Equity”), other than certain hedging
arrangements and the licensing of the Index and its service marks
for use in connection with a fixed indexed annuity offered by
American Equity (“the Product”) and is not a party to any
transaction contemplated hereby. Credit Suisse shall not be liable
for the results obtained by using, investing in, or trading the
Product. Credit Suisse has not published or approved this document
and accepts no responsibility for its contents or use. Obligations
to make payments under the Product are solely the obligation of
American Equity and are not the responsibility of Credit
Suisse.
The truVol® Risk Control Engine is a service mark of Salt
Financial Indices LLC, and has been licensed for use by Credit
Suisse. This Product is not sponsored, endorsed, sold or promoted
by Salt Financial Indices LLC. Nor does Salt Financial Indices LLC
make any representation regarding the advisability of investing in
the Product.
S&P 500®
The "S&P 500®" is a product of S&P Dow Jones Indices LLC
(“SPDJI”), and has been licensed for use by American Equity
Investment Life Insurance Company (“AEL”). Standard & Poor’s®
and S&P® are registered trademarks of Standard & Poor’s
Financial Services LLC (“S&P”); Dow Jones® is a registered
trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). These
trademarks have been licensed to SPDJI and sublicensed for certain
purposes by AEL. AEL's products are not sponsored, endorsed, sold
or promoted by SPDJI, Dow Jones, S&P, or their respective
affiliates, and such parties make no representations regarding the
advisability of investing in such product(s) and have no liability
for any errors, omissions, or interruptions of the S&P.
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version on businesswire.com: https://www.businesswire.com/news/home/20210222005884/en/
Heather Gierstorf Vice President – Communications American
Equity Investment Life Insurance Company® 515-457-1788
hgierstorf@american-equity.com
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