The Ascent Pro 10 Bonus Select is a single-premium, fixed-indexed annuity from Athene IA. This product offers a 10-year surrender charge period, as well as a provision for MVA (Market Value Adjustment). The Ascent Pro 10 Bonus Select offers a 1% premium bonus within the first year, which is subjected to a 10-year vesting schedule (a vesting schedule determines when the investor takes full ownership of the bonus).
Product Availability: Since March 13, 2017, the Ascent Pro 10 Bonus Select has only been available in HI, AK, DE, NJ, MN, NV, OK, OH, OR, SC, PA, UT, TX and WA. A version of this annuity known as the Ascent Pro 10 Bonus is available in Florida alone.
Annuity Facts
Minimum Interest Credit
This is a unique feature available in the Ascent Pro 10 Bonus Select annuity. It stipulates that if at the end of the withdrawal charge, the investor’s total interest credited to his or her accumulated value is below the Minimum Interest Credit, then the company automatically offers a one-time interest credit that’s equal to the difference. This Minimum Interest Credit is calculated based on a set percentage of the investor’s Initial Premium, minus withdrawals and any charges.
Issue Ages
0-80 years
Annuitization Age
The annuitization age for the Ascent Pro 10 Bonus Select annuity is up the 95th birthday. If you’re nearing the age of 95, it’s recommended that you talk with your trusted annuity products advisor to discuss options.
Minimum and Maximum Premiums
The minimum premium for the Ascent Pro 10 Bonus Select annuity is $5,000, while the maximum allowed single premium is $1,000,000. Since this is a single-premium product, flexible premium payment arrangements are not possible.
Available Riders
The Ascent Bonus Income Rider is available to help investors boost their income and get peace of mind with a guaranteed stream of income.
Withdrawal Provisions
The Ascent Pro 10 Bonus Product annuity from Athene IA offers free withdrawals up to 10% of your Accumulated Value each contract year. Beyond that, withdrawals are subjected to the withdrawal charge schedule:
| Contract Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| Withdrawal Charge (in percentage) | 8.30 | 8.00 | 7.10 | 6.20 | 5.30 | 4.40 | 3.50 | 2.60 | 1.60 | 0.90 |
The minimum withdrawal amount is $500, with the minimum allowed account value being $2,000. Investors can withdraw interest only, and withdrawal accumulated value is available immediately.
Confinement Waiver
Past the first contract anniversary, the annuity owner can receive up to 100% of their Accumulated Value if he or she is confined to a qualified care facility for a period not less than 60 consecutive days. This waiver is not available in the state of Oregon.
Terminal Illness Benefit
The contract owner may be allowed to withdraw up to 100% of their accumulated contract value if they’re diagnosed with any terminal illness that’s expected to result in their death within one year. This waiver is only available after the first Contract anniversary. No withdrawal charges, premium vesting bonus, or Market Value Adjustment is applied to this benefit.
Death Benefit
Upon the annuitant’s death, his appointed beneficiaries receive the greater Accumulated Value, or the MGCV (Minimum Guaranteed Contract Value).
Annuity Broker Hand Holding
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.
