Ascent 10 Bonus 2.0 from Athene IA is a single-premium, fixed indexed annuity product that has a 10-year surrender charge duration, with a provision for market value adjustment (MVA). The Ascent 10 Bonus 2.0 annuity offers a 2% premium bonus in the first contract year, which is subjected to a 10-year vesting schedule.
As of May 2017, this product is not available in CT, AK, DE, MN, HI, NV, NJ, OH, NY, OR, OK, PR, PA, TX, SC, VI, UT, and WA.
Ascent 10 Bonus 2.0 Facts
a) Minimum Interest Credit
This is a unique feature where IF at the end of the withdrawal charge duration the total interest credited to the annuitant’s accumulated value happens to be less than the specified Minimum Interest Credit, then the company automatically offers the investor a one-time interest credit that’s equal the difference.
b) Ascent Bonus Income Rider
This is a guaranteed lifetime benefit rider that’s available in 6 options, from an earning-indexed income option to an inflation-adjusted income option. Although the rider comes at an extra annual fee, it might be a great pick for investors who are looking to get alleviate uncertainties related to future income.
c) Issue Ages
0-80 years in most states. 0-64 in Florida, 0-74 in IN, might vary depending on your state, so it’s important to talk to a reliable and knowledgeable annuity product specialist who can guide you through the state-related specifics.
d) Minimum and Maximum Premiums
The minimum allowed single-premium payment is $5,000, with the maximum being $1,000,000. Since this is a strictly single-premium annuity product, Athene IA doesn’t accept flexible premium payments.
e) Free Withdrawals
After the first contract anniversary, Athene IA allows free withdrawals up to 10% of your accumulated value.
f) Minimum Distributions
If the Ascent 10 Bonus 2.0 annuity from Athene IA is financed with ‘tax-qualified’ cash such as an IRA, then tax law restrictions might require that a ‘required minimum distribution’ is taken every contract year. Athene IA doesn’t subject any required minimum distribution taken from the investor’s contract to withdrawal charges or market value adjustments.
g) Systematic Withdrawals
Systemic withdrawals are available on a monthly, quarterly, semi-yearly, and annual frequencies. The minimum feasible account value is set at $2,000, with the minimum withdrawal amount being $500.
h) Confinement Waiver
A confinement waiver is available in most states (excluding CA and MA). This allows the annuity holder to access up to 100% of their investment in the event they’re confined to a care center for a period of time no less than 60 consecutive days. The confinement waiver is only accessible after the first contract year.
i) Terminal Illness Waiver
Just like the confinement waiver, the terminal illness waiver is automatically included in this contract (not available in CA, as of May 2017). This waiver is available after the first contract anniversary and allows the annuity owner to access up to 100% of their contract’s accumulated value if diagnosed with a terminal illness expected to lead to death within 12 months.
j) Death Benefit
Upon the annuitant’s demise, a death benefit is given to appointed beneficiaries. This might amount to the greater of the accumulated value or the minimum guaranteed contract value.
Looking to Review Ascent 10 Bonus 2.0 or Compare It to Other Annuities?
If you’re looking to review the Ascent 10 Bonus 2.0 annuity so that you can compare it to other products either from Athene IA or other annuity providers, we can help. Annuity Broker can connect you to industry-leading annuity experts who’ll help you make the best annuity decision based on your precise circumstances.
