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American Equity Investment Life Insurance Company has introduced a new indexed annuity product, the AssetShield product.

The contract comes in versions with five-year, seven-year and 10-year terms, according to American Equity.

(Related: Lincoln Adds Indexed Variable Annuity)

The West Des Moines, Iowa-based insurer says the products will give purchasers access to a crediting strategy tied to the performance of the S&P 500 Dividend Aristocrats index.

The index reflects the performance of large public companies that have been good about paying dividends.

Regulatory filings show that American Equity could eventually add crediting rate options tied to other investment index options, such as the SG Columbia Adaptive Risk Control Index.

— Read Phoenix Issues First New Annuity Since Nassau Re Dealon ThinkAdvisor.

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