The Athene Ascent Pro 10 is a single-premium, fixed indexed annuity product with a provision for Market Value Adjustment, and a 10-year surrender charge duration. Investors can choose from various index crediting strategies, and there’s six guaranteed lifetime benefits riders available. Currently, this annuity is not available in VI, NY, and PR.
Annuity Features
a. Minimum Interest Credit
The Ascent Pro 10 from Athene IA offers a unique feature called Minimum Interest Credit. If at the end of the withdrawal charge duration the sum interest credited to the investor’s accumulated value happens to be less than the set Minimum Interest Credit, then the company automatically offers the investor a one-time interest credit that’s equal the difference.
b. Guaranteed Lifetime Benefit Riders
There are 6 guaranteed lifetime benefit riders available with this annuity. These include the Ascent Income Rider with Earning-Indexed Income, the Ascent Income Rider with Inflation Adjusted Income, the Ascent Income Rider with Level Income, and more.
c. Issue Ages
The issue ages for this fixed indexed annuity is 0-80 years.
d. Minimum Premium
The minimum allowed single-premium with this annuity is $5,000.
e. Free Withdrawals
Commencing Contract Year 1, free withdrawals up to 10% of the investor’s accumulated value are available free of withdrawal charges, bonus vesting and market value adjustment.
f. Minimum Distributions
If the Ascent Pro 10 from Athene is purchased with ‘tax-qualified’ funds such as an IRA, then tax law might require that a ‘required minimum distribution’ is taken each contract year. Any required minimum distribution taken from the investor’s account isn’t subjected to market value adjustments or withdrawal charges.
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. This waiver is only possible after the first contract anniversary, and allows the annuitant to access up to 100% of their investment if they’re at all diagnosed with a terminal illness predicted to cause death within 12 months.
j. Death Benefit
Upon the annuitant’s demise, a death benefit is given to named beneficiaries. This might amount to the greater of the accumulated value or the minimum guaranteed contract value.
Handholding from Annuity Broker, your Trusted Source of Information on Annuity Products
Fixed indexed annuities must be quoted to be accurately compared to other competing products. Furthermore, interest rates and the specific terms surrounding each product might change without notice. It’s important that you get some hand holding from a skilled annuity product pro who can guide you to the right product for your precise needs.
