Main Office:
2401 Sardis Road North, Suite 110
Charlotte, NC 28227
Texas Office:
9441 Lyndon B. Johnson Fwy Suite 512
Dallas, TX 75243
Mississippi P&C Office:
180 Canal Place
Philadelphia, MS 39350
INCOMING: LIBR Adjustments on IncomeShield
LIBR adjustments on IncomeShield 7, 9 & 10, effective March 1!
American Equity is proud to offer simple, transparent products at competitive rates within the industry. They remain committed to helping their contract owners protect their retirement dollars.
American Equity will be making adjustments to their Lifetime Income Benefit Rider (LIBR) (details listed below). These adjustments are designed to help simplify income planning for you and your clients. This also allows for more options for your longer-term clients.
IncomeShield 7, 9 & 10 Adjustments
These adjustments impact the LIBR Options 3 and 5* for IncomeShield 7, 9 and 10. Options 1, 2, 4 and 6 are unaffected by these changes.
Options 3 and 5 will have an updated Income Account Value (IAV) rate and an increased accumulation period effective Friday, March 1, 2024.
*Option 5 not available in CA
| Current LIBR Options 3 & 5 | New LIBR Options 3 & 5 |
| 7% compound interest | 6.5% compound interest |
| 15-year accumulation period | 20-year accumulation period |
| The initial 7% IAV rate is guaranteed for the 10-year initial IAV rate guarantee period. For years 11 - 15, the IAV rate will never be lower than the minimum guaranteed IAV rate of 4%. | The IAV rate is 6.5% and is guaranteed for the 20-year accumulation period. |
For clients to qualify for the current LIBR Option 3 or 5, applications along with cash or 1035/Transfer paperwork must be received by 5:00 p.m. CT on February 29, 2024, and transfer funds must be received by 5:00 p.m. CT on April 1, 2024.
Will new disclosures be required?
Will new disclosures be required?
- Applications received on or after March 1, 2024, will require the new disclosure.
- Client will be required to send in the new disclosure in order to receive the 6.5% IAV rate with the 20-year accumulation period.
American Equity thanks you for your continued business. If you have any questions, please call American Equity Sales Support at 888-647-1371. To get updated sales materials and order custom ad slicks, log into MyPortal.