American Equity Investment Fails to Meet IMSA Standards Review.

Business Editors

WASHINGTON--(BUSINESS WIRE)--Jan. 23, 2003

American Equity Investment Life Insurance Company of Des Moines, IA has failed to qualify for renewed membership in the Insurance Marketplace Standards Association (IMSA).

IMSA is an independent, non-profit organization that promotes high ethical standards in the marketing, selling and servicing of individually sold life insurance, annuities and long-term care insurance.

American Equity had been a qualified member of IMSA since 1999.

IMSA is a voluntary membership organization created in 1996 to strengthen consumer trust and confidence in the life and long-term care insurance and annuity products industry. IMSA represents more than 200 of the nation's top insurance companies representing 68 percent of the life insurance policies written in the United States.

Every three years, IMSA member companies must complete a comprehensive review followed by an outside assessment to ensure quality business practices that safeguard the consumer. IMSA's Code of Ethical Market Conduct requires it members to:

-- Maintain high standards of honesty and fairness in business;

-- Provide competent, customer-focused sales and service;

-- Engage in active and fair competition;

-- Provide advertising and sales material that are clear in purpose and honest and fair in content;

-- Provide for fair and expeditious handling of customer complaints and disputes: and,

-- Conduct strict supervision and review to insure compliance with IMSA's standards.

The IMSA seal is considered a mark of excellence within the insurance industry and a guidepost for the consumer.