American Life & Security

What American Life & Security does

American Life & Security Corp. is a privately held, Nebraska-domiciled insurance company that designs, issues, and services fixed annuity products for U.S. retail retirement savers. Founded in 1960 and substantially reimagined in 2018, the company operates through subsidiaries and a parent, Midwest Holding Inc., which was acquired by private equity sponsor Antarctica Capital in 2023. The current product suite consists of four annuities: American Classic (Multi-Year Guaranteed Fixed Deferred Annuity), American Select (Fixed Indexed Annuity with five index options), American Fusion (Multi-Year Guaranteed Index Annuity with a five-year rate lock and S&P 500 bonus trigger), and MaxGrowth 10 (Fixed Indexed Annuity with a ten-year horizon and four crediting strategies). Distribution is exclusively wholesale through licensed insurance agents and financial advisors, with dedicated agent and policyholder portals.

The underlying technology platform is the company's most differentiated structural asset: it was built cloud-native from the outset through a partnership with FAST Technologies running on Amazon Web Services, making American Life the first U.S. insurance carrier to operate entirely in the cloud. This architecture supports faster product launches, lower operating costs, and integration with exclusive licensed indices from Goldman Sachs Xenith, Janus SG Guidance Index, S&P 500 ESG, S&P 500 Market Agility 10, and Schroders Global Compass, several of which are exclusive to American Life for fixed-annuity crediting. The company maintains an A.M. Best B++ financial strength rating with a positive outlook.

Revenue is generated through investment spread between earned portfolio returns and credited interest rates, plus policy fees, surrender charges, and bonus mechanics embedded in the annuity contracts. The company derives income from initial premiums (classified as recurring contract revenue) and from ongoing spread economics across multi-year guarantee periods. Its primary customer segments are pre-retirees and retirees who want principal-protected, tax-deferred growth with guaranteed income features. Geographic footprint has expanded rapidly from 26 to 31 states plus DC within roughly six months, with active targeting of states that have favorable retirement tax treatment and high concentrations of population aged 65 and older. Customer concentration risk is minimal as the business is high-volume retail rather than enterprise-anchored.

Name

American Life & Security

Legal name

American Life & Security Corp.

Website

https://american-life.com

Company type

Private

Founded year

1960

Operating status

Operating

Headcount range

11–50 employees

Short description

American Life & Security Corp. is a privately held, Nebraska-based fixed annuity insurer offering MYGAs and indexed annuities to U.S. retail retirement savers, distributed through licensed agents across 31 states and DC.

Ownership category

akta.pro rank

Product category

Retirement Annuities

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Direct Life Insurance Carriers (524113)

SIC

Life Insurance (6311)

akta.pro primary industry

Fixed Annuities (FSAIACAA)

akta.pro secondary industry

Annuities & Investment-Linked Insurance Solutions (Retail) (FSAAAAAM)

Keywords

• Fixed annuities
• Indexed annuities
• Retirement planning
• Annuity products
• Life insurance

Headquarters

HQ city

Lincoln

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Fixed Deferred Annuity Premiums: Annuity holders pay initial premium in exchange for guaranteed fixed interest growth over a contract term. Revenue generated from the spread between earned investment returns and credited interest to policyholders, plus surrender charges for early withdrawals.
2. Fixed Indexed Annuity Premiums: Annuity holders pay upfront premium with interest credited based on index performance (S&P 500, Goldman Sachs Xenith, Janus SG, etc.) while principal is protected. Revenue from policy fees, surrender charges, and investment spread.
3. Multi-Year Guaranteed Index Annuity Premiums: Initial premium grows at fixed rate for 5-year guarantee period with potential bonus interest credit based on S&P 500 performance threshold. Revenue from policy fees and investment spread.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

American Life & Security Corp. designs, issues, and services a portfolio of fixed annuity products for individual retirement savers. The lineup comprises American Classic (Fixed Deferred Annuity with a Multi-Year Rate Guarantee), American Select (Fixed Indexed Annuity with index-linked crediting), American Fusion (Multi-Year Guaranteed Index Annuity), and MaxGrowth 10 (Fixed Indexed Annuity). All products are operated on the company's fully cloud-native insurance platform and distributed exclusively through licensed insurance agents and financial advisors across 31 U.S. states and the District of Columbia.

Product overview

American Life & Security Corp. offers a portfolio of annuity products designed for retirement planning. The product lineup includes: American Classic (Fixed Deferred Annuity with Multi-Year Rate Guarantee and Loyalty Bonus), American Select (Fixed Indexed Annuity with five index options and exclusive access to Goldman Sachs Xenith and Janus SG indices), American Fusion (Multi-Year Guaranteed Index Annuity with 5-year rate lock and S&P 500 bonus potential), and MaxGrowth 10 (Fixed Indexed Annuity with four index strategies and optional premium bonus). All products are cloud-based, backed by FAST Technologies and AWS infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

• American Classic: Fixed Deferred Annuity - A low-risk and predictable return insulated from economic volatility with a Multi-Year Rate Guarantee (MYGA) and Loyalty Bonus feature.
• American Select
• American Fusion
• MaxGrowth 10

Products and services

• American Classic American Classic is a Fixed Deferred Annuity with a Multi-Year Rate Guarantee (MYGA) designed for individual retirement savers seeking low-risk, predictable returns insulated from economic volatility. The product credits a competitively high fixed interest rate for a defined contract term, includes a 10% annual free-withdrawal allowance, offers a Loyalty Bonus for customers who refrain from withdrawals during the term, and applies surrender charges for excess withdrawals.
• American Select American Select is a Fixed Indexed Annuity that gives individual retirement savers flexible participation in up to five equity indices (including exclusive access to S&P 500 ESG Index, Goldman Sachs Xenith Index, and Janus SG Guidance Index: Value Lock) or a fixed rate account, with principal protected from market downturns. Optional bonus versions (American Select Bonus and American Select Bonus Plus) add a Premium Bonus and an annual policy fee.
• American Fusion American Fusion is a Multi-Year Guaranteed Index Annuity (MYGIA) that locks in a fixed rate for a five-year guarantee period and offers the opportunity for bonus interest credits if the S&P 500 Index meets a performance threshold at the end of the term. It is designed for individual retirement savers seeking a defined contract period with potential index-linked upside, RMD-friendly penalty-free withdrawals from year 2, and policy fees plus surrender charges that apply per the contract terms.
• MaxGrowth 10 MaxGrowth 10 is a Fixed Indexed Annuity aimed at individual retirement savers who want to maximize long-term growth potential while protecting principal. Premiums can be allocated across four index strategies — S&P 500 Index, S&P 500 Market Agility 10 Index, Schroders Global Compass Index, and a fixed rate account — with an optional Premium Bonus, 5% annual access to Contract Value after year 1, a 5x5 Annuitization option after year 5, an optional Nursing Home Benefit Rider, and applicable surrender charges.

Quantifiable outcome

• Principal protection from market downturns while maintaining growth potential
• +2 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Seven partnerships are on record, tiered core.

• FAST TechnologiescoreTechnology or IntegrationPartnership announced in September 2018 with FAST, a leading digital platform. American Life became the first insurance company to be entirely cloud-based through this partnership, enabling lower costs, faster speed to market, and superior customer and agent experience.
• Amazon Web Services (AWS)coreTechnology or IntegrationCloud infrastructure partnership providing the technology backbone for American Life's fully cloud-based insurance operations.
• S&P Dow Jones IndicescoreTechnology or IntegrationLicensing of S&P 500 Index and S&P 500 Market Agility 10 Index for annuity crediting strategies. These indices provide the performance benchmarks for American Life's indexed annuity products.
• SchroderscoreTechnology or IntegrationLicensing of Schroders Global Compass Index - a global multi-asset index using dynamic allocation across global equities, government bonds, and energy commodities for MaxGrowth 10 annuity product.
• Goldman SachscoreTechnology or IntegrationExclusive access to Goldman Sachs Xenith Index - a rules-based strategy providing exposure to diversified portfolio across five underlying assets driven by monthly economic growth signals. American Life has exclusive rights for fixed annuity products.
• Janus Henderson (Janus SG Guidance Index)coreTechnology or IntegrationExclusive access to Janus SG Guidance Index: Value Lock with unique stock selection methodology and protection features designed to potentially outperform market benchmarks. Licensed through Société Générale.
• S&P Global (S&P 500 ESG, S&P MARC 5%)coreTechnology or IntegrationLicensing of S&P 500 ESG Index (industry first for fixed annuities) and S&P MARC 5% Index for American Select annuity crediting options.

Scale indicators5 records

Recent moves10 records

Expansion highlights4 records

Emerging players

• EquiTrust Life Insurance Company: Mid-sized fixed annuity and FIA issuer focused on retirement products, with a similar independent-advisor distribution model; comparable in product mix and target customer base though smaller in scale.

Direct peers

• Security Benefit: Insurance and retirement provider with a strong fixed indexed and multi-year guaranteed annuity product shelf, distributed through financial professionals; similar customer segment and product overlap.
• Corebridge Financial: Major U.S. retirement and life insurer (formerly AIG Life & Retirement) offering fixed, indexed, and variable annuities, as well as group annuities; directly comparable in retail FIA product shelf and advisor distribution.
• F&G Annuities & Life: Publicly traded annuity and life insurer (NYSE: FG) focused on fixed indexed, multi-year guaranteed, and immediate annuities for retirees; competes head-to-head with American Life in the FIA and MYGA categories through independent agent distribution.
• Athene Holding: Leading fixed and fixed indexed annuity issuer (now part of Apollo Global Management), the dominant PE-backed competitor with a similar retirement-income focus, multi-year guaranteed and indexed annuity products, and exclusive index strategies.
• Brighthouse Financial: Publicly traded annuity and life insurance provider with a strong fixed indexed and shield annuity product lineup, distributed through financial advisors—an A-rated comparable to American Life in the retirement-savings market.
• Global Atlantic Financial Group: PE-backed (KKR majority) annuity and life insurance company offering fixed, fixed indexed, and registered index-linked annuities; very close comparable given similar PE ownership structure and indexed annuity focus.
• Nassau Financial Group: Mid-sized insurer offering fixed indexed, fixed rate, and registered index-linked annuities through independent agents; comparable in scale, distribution model, and product mix to American Life.

Broad incumbents

• Allianz Life Insurance Company of North America: One of the largest U.S. fixed indexed annuity writers as part of the broader Allianz insurance group; significant overlap in FIA products and advisor distribution, with a much larger balance sheet and A+ rating.
• Great American Life Insurance Company: Established fixed, fixed indexed, and registered index-linked annuity provider within Great American Insurance Group; broader product portfolio but overlapping FIA offerings and distribution channels.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about American Life & Security