American Equity Income Shield

Disclosures

Annuity Contract and riders issued under form series ICC22 BASE-IDX-B, ICC22 IDX-11-10, ICC16 R-MVA, ICC20 E-PTP-C, ICC20 E-PTP-PR, ICC20 E-MPTP-C, ICC16 R-MVA, ICC20 R-EBR, ICC20 R-LIBR-FCP, ICC20 R-LIBR-FSP, ICC20 R-LIBR-W-FSP, ICC20 R-LIBR-W-FCP, and state variations thereof. Availability may vary by state. Surrender charges may apply to excess withdrawals that exceed 10% annual free withdrawal available under the contract. You may be subject to a 10% federal penalty if you make withdrawals before age 59½.

Possible interest credits for money allocated to an index-linked crediting strategy are based upon performance of the specific index; however, fixed index annuities are not an investment, but an insurance product, and do not directly invest in the stock market or the index itself.

1 Social Security Administration. Retirement Benefits 2022. https://www.ssa.gov/oact/STATS/table4c6.html 2 Ned Davis Research as of 12/15/21. Past performance is not indicative of future results. 3 National Institute on Retirement Security. “Examining the Nest Egg: The Sources of Retirement Income for Older Americans” 2020. https://www.nirsonline.org/wp-content/uploads/2020/01/Examining-the-Nest-Egg-Final.pdf 4 As of 12/31/22 - Assets $58.99 billion, Liabilities $55.30 billion.

5 A.M. Best has assigned American Equity an “A-” (Excellent) rating, reflecting their current opinion of American Equity’s financial strength and its ability to meet its ongoing contractual obligations relative to the norms of the life/health insurance industry. A.M. Best utilizes 15 rating categories ranging from A++ to F. An “A-” rating from A.M. Best is its fourth highest rating. For the latest rating, access www.ambest.com. Rating effective 8/2/06, affirmed 9/9/22. 6 Standard & Poor’s rating service has recognized American Equity Investment Life Insurance Company with an “A-” rating. An insurer rated “A” has strong financial security characteristics, but is somewhat more likely to be affected by adverse effects of changing circumstances or economic conditions than are insurers with higher ratings. Ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories. Rating effective 8/5/15, affirmed 11/8/22. 7 Fitch Ratings assigned American Equity Investment Life Insurance Company an Insurer Financial Strength rating of “A-” (Outlook Stable). Fitch Ratings utilizes 19 rating categories ranging from “AAA” to “C.” An “A-” rating is the seventh highest rating. An insurer with an “A” rating is considered to have a strong capacity for payment of financial commitments, but may be more vulnerable to adverse business or economic conditions than insurers with higher ratings. Outlooks indicate the direction a rating is likely to move over a one- to two-year period if current financial or other trends continue. For more information, please visit www.fitchratings.com. Rating effective 5/5/2021. Affirmed 12/8/22. Provisions of the Lifetime Income Benefit Rider, such as Income Account Value Accumulation Rates, (and IAV multiplier) may change prior to issue. Income Account Value is only used to calculate Lifetime Income. It is not part of the underlying Contract Value, or available in a lump sum. Available for issue ages 40 to 80. Rider fee is calculated based on the income account value and deducted from the contract value on each contract anniversary as long as the rider is attached to the contract. The wellbeing benefit can only be activated one time after a two year waiting period. Contract owner must be unable to perform two of six ADLs and requires annual certification by a qualified physician. See disclosure and sales brochure for additional details. The current enhanced income payment factor is 200% for single life payout or 150% for joint life payout. This material is for informational purposes only, and is not a recommendation to buy, sell, hold or rollover any asset. It does not take into account the specific financial circumstances, investment objectives, risk tolerance or need of any specific person. In providing this information American Equity Investment Life Insurance Company is not acting as your fiduciary as defined by the Department of Labor. American Equity does not offer legal, investment or tax advice or make recommendations regarding insurance or investment products. Please consult a qualified professional. Guarantees are based on the financial strength and claims paying ability of American Equity and are not guaranteed by any bank or insured by the FDIC. The BlackRock Adaptive US Equity 5% Index (the “Index”) is a product of BlackRock Index Services, LLC and has been licensed for use by American Equity Investment Life Insurance Company (“American Equity”) as a component of IncomeShield (the “Product”). BlackRock ® , BlackRock Adaptive US Equity 5% Index™, and the corresponding logos are registered and unregistered trademarks of BlackRock. The Product is not sponsored, endorsed, sold or promoted by BlackRock Index Services, LLC, BlackRock, Inc., or any of its affiliates, or any of their respective third party licensors (including the Index calculation agent, as applicable) (collectively, “BlackRock”). BlackRock has no obligation or liability in connection with the administration or marketing of Product. BlackRock makes no representation or warranty, express or implied, to the owners of the Product or any member of the public regarding the advisability of investing the Product or the ability of the Index to track general market performance. BlackRock does not guarantee the adequacy, accuracy, timeliness, and/or completeness of the Index or any data or communication related thereto nor does it have any liability for any errors, omissions or interruptions of the Index.

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