How do I begin the annuity claim process?
Please contact our Annuity Claims Department to begin the claim process.
How do I know if I am a beneficiary?
Please contact the Annuity Claims Department for verification.
Is my annuity death benefit taxable?
On qualified annuities (IRA, 401K, Defined Benefit plans), a 1099-R reporting 100% of the claim amount as taxable income will be sent to both the beneficiary and the IRS in the year in which a claim distribution is made.
On non-qualified annuities, a 1099-R reporting the interest portion of the claim amount will be sent to both the beneficiary and the IRS in the year in which a claim distribution is made.
How quickly will my claim be processed?
Once the death of a contract owner is reported, a claim kit is forwarded to each beneficiary within 72 hours. Once all claim requirements are received by American Equity and are in good order, the processing time of a beneficiary claim is approximately 7-10 business days.
Can my death benefit be wired to my bank?
No. All lump sum claim payments are issued as a check and mailed via United States Postal Service.
Do you require an original death certificate?
Yes. We require an original certified death certificate for processing. We cannot accept a photocopy.
Do you need a separate death certificate from each beneficiary?
No. One certified death certificate is required for processing. Once received, it is applied to each contract involved in the beneficiary claim, and for each beneficiary making claim on those contracts.
How long do I have to claim my death benefit?
The IRS requires the taxable portion of all death benefits must be reported within 5 years from the date of death. Certain tax-deferral options that stretch this reporting past the 5th year have different election requirements. Please refer to the beneficiary claim form for election requirements on specific claim options.