Exhibit 23.1

                    Consent of Independent Auditors



We consent to the reference to our firm under the caption "Experts" and to
the use of our report dated March 8, 2002, in Amendment No. 4 to the
Registration Statement (Form S-1 No. 333-72930) and related Prospectus of
American Equity Investment Life Holding Company for the registration of
$150,000,000 of its senior notes due in 2012.

                                                  /s/ Ernst & Young LLP

Des Moines, Iowa
June 21, 2002