Death Claim FAQ

American Equity Annuity Claim Frequently Asked Questions:

How do I begin the annuity claim process?

To speak with a representative in person, you may contact our Annuity Claims Department toll free at (877) 542-8847.

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 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 accept a photocopy or electronic copy of the original death certificate?

Yes. We will accept a mailed, faxed or emailed photocopy of a certified death certificate. To ensure authenticity, each copy must meet the following requirements:

Must be complete – no parts of the death certificate can be cut off, altered or amended
Must be legible – we must be able to read the ENTIRE death certificate
Must contain an official seal – the copy must include a visible seal to verify authenticity

Do you need a separate death certificate from each beneficiary?

No. One 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?

In general, we encourage you to submit claim forms within 60 days of the decedent’s death. The most payout options will be available if claims forms are submitted within the 60 days. Less payout options may be available the later claim forms are submitted (timing restrictions are set by the IRS).

For more information on payout options see the FAQ, “Where can I find more information on payout options available to me?”.

Where can I find more information on payout options available to me?

There are multiple ways you can choose to receive your inherited funds, and how you receive the funds will depend on the payout option you select. Payout options available are based on the following:

• Date of the decedent’s death
• Type of funds you inherited (i.e. IRAs or an account other than an IRA)
• What type of beneficiary you are

For additional information on types of beneficiaries and payout options available please click on the link applicable to you below:

• Beneficiary Claim Guide – Deaths Occurring On or Before 12.31.19
• Beneficiary Claim Guide – Qualified Account (i.e. IRAs) – Death Occurring On or After 01.01.20
• Beneficiary Claim Guide – Non-Qualified Account (i.e. other than IRAs) – Deaths Occurring On or After 01.01.20

To obtain a copy of a claim form to elect a payout option, please click on the link applicable to you below:

• Beneficiary Claim Form – Deaths Occurring On or Before 12.31.19
• Beneficiary Claim Form – Qualified Account (i.e. IRAs) – Death Occurring On or After 01.01.20
• Beneficiary Claim Form – Non-Qualified Account (i.e. other than IRAs) – Deaths Occurring On or After 01.01.20

What is an annuity?

You can learn more about annuities by visiting our Annuities page.