Eagle Life Insurance Company – a subsidiary of American Equity Investment Life Holding Company is a relatively new entrant in the life insurance arena. This insurer first opened its doors in the summer of 2008 – at a time when many other financial and insurance companies were going under.
This company focuses on the financial institution distribution channels, which means that if you have a financial advisor who is independent, he or she may be able to offer you an insurance policy and/or an annuity through Eagle Life.
American Equity Investment Life Insurance Company, the parent company of Eagle Life Insurance Company, has a strong financial footing, with more than $53 billion in assets. It is rated highly by the insurer rating agencies, with an A- (Excellent) from A.M. Best, and an A- (Strong) from Standard & Poor’s. As of year-end 2018, American Equity was the number three producer of fixed index annuities in the U.S.
Eagle Life Insurance Company offers both traditional fixed annuities and fixed indexed annuity products. Both of these types of annuities offer tax-deferred growth, as well as the ability to convert funds into a lifetime income stream.
Traditional Fixed Annuities from Eagle Life Insurance Company
With a fixed annuity from Eagle Life Insurance Company, you will have a competitive, guaranteed rate of return that is declared at the time you purchase the annuity. Your principal is protected, regardless of what happens in the stock market.
Many of the traditional fixed annuities from Eagle Life are MYGA (Multi-Year Guaranteed) annuities. This means that you can lock in an interest rate for a set period of time. The Eagle Platinum MYGA annuities offer a 5-year, a 6-year, and a 7-year option. Eagle Life also offers the Sure Rate fixed annuity.
These annuities provide a certain amount of liquidity, too, as well as the ability to withdraw funds penalty-free in certain situations, such as after the diagnosis of a terminal illness, or having to reside in a nursing home.
For more in-depth details on the traditional fixed annuities that are sold through Eagle Life Insurance Company, go HERE.
Eagle Life Insurance Company’s Fixed Index Annuities
Fixed index annuities offer protection of principal, as well as an opportunity to earn a higher rate of return than a regular fixed annuity, based on the performance of an underlying market index like the S&P 500.
Eagle Life Insurance Company uses two common indexes for its fixed index annuity return tracking purposes. These include the:
- S&P 500
- S&P 500 Dividend Aristocrats Daily Risk Control 5% Index
It is up to you to choose whether one or both of these indexes will be used to track your annuity’s return. There is also a fixed account option.
There are a number of fixed indexed annuities offered through Eagle Life Insurance Company, including the:
- Eagle Advisory 8
- Eagle Select Focus 5
- Eagle Select Focus 7
- Eagle Select 6
- Eagle Select 8
- Eagle Select 10
You can also choose to add a lifetime income benefit rider to your Eagle Life fixed indexed annuity. This option can help you to secure a guaranteed lifelong income source. It offers a set accumulation period where money is able to grow tax-deferred, up to the time when the first income payment is received. (Note that if you add this rider, an additional fee will be deducted from your annuity’s contract value each year).
For more details on the Eagle Life lifetime income benefit rider, or LIBR, go HERE.
To learn more about all of the fixed index annuities sold through Eagle Life Insurance Company, go HERE.
Is an Annuity from Eagle Life Insurance Company Right for You?
Today, there are many annuities that you can choose from in the marketplace. But, while having a broad range of options available can be nice, it can often make it more confusing to determine which one will truly fit your needs.
That’s why it is important to have an annuity expert on your side. At Annuity Gator, we’ve already done the research for you. We delve into all of the fine print that is associated with annuities and provide our findings via our reviews in our annuity review database.
If you have any additional questions, we also have annuity professionals available who can walk you through how these products work and help you to compare specific annuities so you can know what to anticipate if you add one (or more) to your portfolio.
The Annuity Gator
P.S If you would like to read more of our Eagle Life annuity reviews here are some links to check out:
- Independent Review of the Eagle Life Eagle Platinum MYGA Annuity
- Independent Review of the Eagle Life Eagle Select 10 Fixed Indexed Annuity