Athene Performance Elite 15 is a single-premium, fixed indexed annuity that has a 15-year surrender charge duration, and a provision for market value adjustment. The Performance Elite 15 annuity from Athene offers investors a 7% 1st year premium bonus, subjected to a 15-year vesting schedule.
As of May 2017, the Athene PE 15 was not available in CT, CA, PA, NY, UT, PR, WA, and VI.
Athene Performance Elite 15 Facts
Issue and Annuitization Age
Generally, the issue age for this annuity product is 0-73 years. In some states though, the issue age can be much lower. For instance, it is 47 years in MN, DE, OR, and OH. It’s important to confirm specific issue age in your state if you’re interested in purchasing this fixed indexed annuity. You can get state-specific details about this product by contacting a trusted annuity expert here [[[[[get help page]]]]].
Annuitization must be prior to the 95th birthday. Annuitants who are nearing the age of 95 are advised to contact their financial advisor to discuss options.
Minimum and Maximum Premium
Minimum premium is $25,000, and the maximum premium is $1,000,000.
Although this is a single-premium annuity, additional premiums are still accepted within the first contract year.
Market Value Adjustment
This is applied to any surrenders, or withdrawals above the free withdrawal threshold.
Free Withdrawals
After the first contract year, investors can withdrawal up to 5% of their accumulated value without 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’s the greater of the annuitant’s accumulated value, or the minimum guaranteed contract value.
Athene PE 15 Annuity 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.
