If you own or have owned a deferred annuity issued by American Equity Investment Life Insurance Company, your rights may be affected by the American Equity Investment Life Insurance Company Deferred Annuity Class Action Lawsuit Settlement.
American Equity Investment Life Insurance Company and American Equity Investment Service Company (“American Equity Investment Life Insurance Company” or “Defendants”) have reportedly agreed to a proposed settlement of a class action lawsuit against American Equity Investment Life Insurance Company and American Equity Investment Service Company in the United States District Court for the Central District of California (captioned as In re American Equity Annuity Practices & Sales Litigation, Case No. 05-6735-CAS (MANx)) alleging, among other things, that American Equity sold deferred annuities to senior citizens with illusory premium bonuses and crediting options and undisclosed sales loads, purportedly in violation of RICO §18 U.S.C. 1962 and state law, according to the American Equity Investment Life Insurance deferred annuity class action settlement notice.
The American Equity Investment Life Insurance Deferred Annuity nationwide settlement class reportedly includes, unless otherwise excluded, all individuals and Trusts who owned policies who are not California residents and who were 65 years of age or older (or if jointly owned where one of the joint owners was 65 years of age or older) and if Trust owned where the Trust grantor was 65 years of age or older when the Annuity was bought, and who bought their contracts between January 3, 2000, and December 31, 2009.
The American Equity Investment Life Insurance Deferred Annuity California settlement class reportedly includes, unless otherwise excluded, all individuals and Trusts who owned policies who are not California residents and who were 65 years of age or older (or if jointly owned where one of the joint owners was 65 years of age or older) and if Trust owned where the Trust grantor was 65 years of age or older at the time the Annuity was bought, and who bought their contracts between January 3, 2000 and December 31, 2009.
American Equity annuities covered by the settlement reportedly include, for example, the following American Equity Life annuities:
- EL TORO BRAVO
- PREMIER EAGLE 10
- FLEX PREM DEF ANN
- FPDA-1(3%)
- FPDA-10
- FPDA-11 FLEXIBLE PREM DEF ANN W/ MVA
- FLEX PREM DEF ANNUITY FPDA-12
- FLEX PREM DEF ANN – MVA
- GUARANTEE PLUS 2
- CAPITAL ACCUMULATOR – FPDA-2+7
- GUARANTEE PLUS 1
- FPDA-7 FLEX PLUS-MVA
- FPDA-7 (2.25) FLEX PLUS – MVA
- FPDA-8 PREMIUM PLUS-MVA
- PREMIER EAGLE 12
- PAYROLL DEDUCT FPDA
- BONUS GOLD
- INDEX-19 (2002) FUTURE PLUS
- NEW MILLENIUM
- NEW MILLENIUM PLUS
- NEW MILLENIUM PLUS TEXAS
- NEW MILLENIUM PLUS – TEXAS & GFIR-5
- NEW MILLENIUM PLUS (REV)
- Retirement Gold
- DEX-25 (2002) THE FREEDOM PLUS ANNUITY
- REWARDS GOLD
- MILLENNIUM GOLD
- INCOME GOLD
- INTEGRITY GOLD
- ADVANTAGE GOLD
- 10/10 GOLD
- INDEX-5-07 INTEGRITY GOLD
- PREMIER GOLD
- INDEX-28 FUTURE GOLD
- INCOME GOLD INDEX-3-07
- BONUS 5
- FREEDOM GOLD
- INDEX-4-05 FUTURE GOLD
- INDEX-5-07 INTEGRITY GOLD
- INDEX-10 THE DOW JONES ANNUITY
- INDEX-12
- INDEX-13 PERFORMANCE EQUITY ANNUITY
- INDEX-15 THE PREMIER EQUITY ANNUITY
- INDEX-16 THE FUTURE EQUITY ANNUITY
- INDEX-17 PERFORMANCE PLUS ANNUITY
- INDEX-18 THE PREMIER PLUS ANNUITY
- FUTURE PLUS
- PLATINUM 3
- INDEX-22 THE FREEDOM PLUS ANNUITY
- INDEX-23 PERFORMANCE PLUS ANNUITY
- INDEX-24 THE PREMIER PLUS ANNUITY
- INDEX-25 THE FREEDOM PLUS ANNUITY
- INDEX-25-WA FREEDOM PLUS
- PRESTIGE GOLD
- COMPASS SELECT
- INDEX-3-07 INCOME GOLD
- INDEX-4 INFINITY INDEX ANNUITY
- INDEX-5 THE ULTIMATE ANNUITY
- PREMIER – 2005
- INDEX-6 NEW HORIZONS INDEX ANNUITY
- INDEX-6-05
- INDEX-8 OPTIMUM EQUITY INDEX ANNUITY
- SUPER-7(03)(2.25)
- SUPER-7 FLEX PREM DEFERRED ANNUITY-MVA
- FLEXIBLE PREMIUM DEFERRED ANNUITY – MVA
- THE SOLUTION
- INDEX-I (S&P 500 EQUITY)
- GUARANTEE SERIES
- INDEX +3 (S&P EQUITY ANN W/BONUS)
The American Equity Investment Life Insurance Deferred Annuity class action settlement reportedly provides for various Surrender Charge Reduction Benefits for both nationwide and California class members.
For more information regarding the American Equity Investment Life Insurance Deferred Annuity class action lawsuit settlement, write to In re American Equity Insurance Co. Annuity Practices and Sales Litigation Settlement Administrator c/o GCG P.O. Box 35075 Seattle, WA 98124-3508, call 1 (866) 336-6421, email info@AnnuityPracticesAndSalesSettlement.com or visit the settlement website at www.annuitypracticesandsalessettlement.com
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