Exhibit 99.1

                           Frequently Asked Questions
                               September 23, 2008


Is my money safe?

     |X|  Your contract with American Equity is safe and backed by over $13
          billion of predominantly high quality assets.

How much money have I lost in my American Equity contract?

     |X|  Not one single dollar. Money used to purchase an American Equity
          annuity contract is never exposed to stock market or bond losses.

What is going to happen to the money allocated to the Lehman Aggregate and
Lehman Treasury index strategies?

     |X|  The crediting strategies that use the "Lehman Aggregate Bond Index"
          and the "Lehman Treasury Index" are not affected by the financial
          situation of Lehman Brothers. These indexes are benchmarks for the
          calculation of your annual interest credit on the premium allocated to
          this crediting strategy. They do not represent investments in Lehman
          itself or in the bonds included within the Lehman Indexes. American
          Equity's assets back your contract value and the addition of annual
          interest using any of the indexed interest rates offered under the
          terms of your contract. Should either of the Lehman Indexes cease to
          be published, American Equity will substitute another bond index or
          other appropriate alternative.

Is my American Equity Fixed Indexed Annuity still a good place to have my money
during these upheavals on Wall Street?

     |X|  The "crisis" on Wall Street amplifies the advantages of owning your
          American Equity Fixed Indexed Annuity. The indexed interest rates in
          each of your contract's crediting strategies only use positive changes
          in the index you select as a basis for determining your annual
          interest credit. Your contract value never goes down because we never
          pass index "losses" through to you. You never have a negative index
          credit, and your annual index credit is never less than zero. This is
          why we say, "We sell sleep insurance".

Is American Equity affiliated with AIG?

     |X|  No

Is American Equity invested in mortgage/sub-prime mortgages?

     |X|  American Equity does not have any investments in sub-prime mortgages.
          A portion of American Equity's investment portfolio is commercial
          mortgages that we have underwritten ourselves. None of these mortgages
          or our Mortgage Backed Securities ("MBS") are in default or past due.
          To make this point clear, American Equity went on public record when
          it filed with the SEC an 8K, "Report of unscheduled material events or
          corporate event" on Nov. 15, 2007. The material facts in that filing
          remain the same today. You can find the filing on our web site,
          www.american-equity.com, click on "Investor Relations", then click on
          "SEC Filings".


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Is American Equity in financial trouble? How stable is American Equity?

     |X|  American Equity is sound and stable.

     |X|  One example of American Equity's stability is the fact that most of
          the management team has been together over 20 years running American
          Equity and another insurance company. This same management group owns
          a meaningful portion of outstanding American Equity stock.

     |X|  Another example of our stability is the fact that more than 73% of
          American Equity's investments are rated A or higher and 17% is in
          commercial mortgages. Again none of our commercial mortgages are past
          due or delinquent.

Why won't American Equity fall into the same situation as AIG and Lehman
Brothers?

     |X|  American Equity has not taken the risks associated with questionable
          mortgage loans and other assets that apparently caused firms to incur
          large losses. Some companies chose to take more risk with its
          investments and incurred larger than expected losses on property and
          casualty business due to hurricanes in the South, floods in the
          Midwest and fires in the West. American Equity does not write property
          and casualty insurance and our investment philosophy is very
          conservative.

What does American Equity invest in?

     |X|  American Equity intentionally has a conservative investment strategy
          that focuses on high quality credit assets. We invest primarily in
          financial instruments that are highly rated by rating agencies like
          Moody's.

     |X|  American Equity does not have any investments in sub-prime mortgages.
          A portion of American Equity's investment portfolio is commercial
          mortgages that we have underwritten ourselves. None of these mortgages
          are in default or past due.

     |X|  You may go to our web site, www.american-equity.com, and click on
          "Investor Relations", then click on "Investor Presentations" for more
          information.


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