The Performance Elite Plus 15 is a single-premium, fixed indexed annuity product that offers a provision for market value adjustment, and a 15-year surrender charge duration. The annuity also offers a whopping 12% premium bonus on first year premiums, subjected to a 15 year vesting schedule. Athene’s PE Plus 15 annuity has an automatically pegged Liquidity Rider that attracts a small annual fee. This rider facilitates enhanced with withdrawal amounts, enhanced annuitizaton and a return of premium benefit.
The Athene PE Plus 15 annuity as not available in CT, CA, PA, NY, UT, PR, WA, and VI as of May 2017.
Performance Elite Plus 15 Annuity Facts
Issue Ages
In most states, the issue age is 0-73 years. The states of OH, MN, OR, and DE have an issue age of 47 years. It’s important that you talk to a financial advisor to confirm the issue age and other state-specific details if you’re interested in purchasing this annuity product.
Minimum and Maximum Premium
Minimum single premium is $25, 000. Maximum single premium is $1,000,000. Flexible premiums are not accepted. However, Athene takes additional premium payments during the first contract year.
Free Withdrawals
Starting the first year, annuitants can withdraw up to 10% of their accumulated value without incurring any withdrawal charges.
Minimum Distributions
Any required minimum distributions are treated as free withdrawals and are thus not subjected to withdrawal charges, market value adjustments, or premium bonus vesting schedules.
Systematic Withdrawals
Systematic withdrawals available on a monthly, quarterly, semi-yearly, or yearly frequency. The minimum withdrawal amount is $500, with the minimum account value being $2000.
Confinement and Terminal Illness Waivers
After the first contract year, a confinement and terminal illness waiver is available for annuity owners who fulfil the requirements.
Death Benefit
Upon the death of the annuitant, his or her beneficiaries are awarded with a death benefit that equals the greatest of their accumulated value, or the minimum guaranteed contract value, or the return of premium benefit.
Athene PE 15 Plus Potential Benefits
- Investment flexibility – investors can choose from several interest crediting strategies available.
- Hospitalization waivers – this policy offers both a terminal illness and confinement waivers that allow eligible investors to access up to 100% of their accumulated value after the first contract anniversary.
- Enhanced free withdrawals – with the rider that’s included in this annuity product, policyholders can access up to 20% of their accumulated value if they did not take a withdrawal the previous contract year.
- Return of premium – return of premium is available after the 4th contract year.
- Larger free withdrawal amount – compared to the Athene PE 15 annuity, the PE 15 Plus offers larger withdrawal amounts at 10%, with possibility of carrying forward skipped withdrawals to the next year.
Looking for more information about the Athene Performance Elite 15 Plus or other fixed indexed annuities? Annuity Broker can help you compare the current market leading annuities, and make an informed choice based on your needs.
