Annuity Lesson #26
Athene Performance Elite Fixed Index Annuity Review (2025 Update)
Jeremiah Konger
CEO
"An annuity may be particularly valuable for women who are concerned about outliving their money."
If you’re planning for retirement and looking for an annuity that offers a combination of stability, security, and growth, then Athene Performance Elite may be right for you.
In this guide, we will explore the Performance Elite annuity in detail, including its rates, pros, cons, fees, and more.
📽️ Watch our in-depth Athene Performance Elite review below:
Product Overview
Athene Annuity & Life Company is a leading U.S. provider of life insurance and retirement solutions, best known for its strong position in the annuity market.
The company has a strong financial reputation backed by ratings from all major agencies:
| AM Best | A+ (Superior) |
|---|---|
| Fitch | A+ |
| Standard and Poor’s Global | A+ |
| Moody’s | A1 |
Despite being a relatively young company compared to traditional insurance giants, Athene has grown rapidly and established itself as a major force in retirement planning.
Athene Performance Elite is a fixed index annuity (FIA) that offers stability and growth potential.
With this type of annuity, your principal is not invested directly in the stock market. Instead, your returns are linked to the performance of indexes.
💡 How is a fixed index annuity different from a fixed annuity?
A fixed annuity gives you a set interest rate, no matter what the market does.
A fixed index annuity, such as Athene Performance Elite, links your growth to a market index so you can earn more when the index performs well while staying protected from losses when the market drops.
Athene Annuity & Life Company offers three fixed index annuities to choose from:
- Athene Performance Elite 10
- Athene Performance Elite 7
- Athene Performance Elite 15 Plus
| Product / Feature | Athene Performance Elite 7 | Athene Performance Elite 10 | Athene Performance Elite 15 Plus |
|---|---|---|---|
| Brochure | Read More About Athene Performance Elite | ||
| Contract Lengths | 7 years | 10 years | 15 years |
| Issue Ages | Up to 78 | Up to 78 | Up to 78 |
| Minimum Premium (Single Premium) | $10,000 | $10,000 | $10,000 |
| Maximum Premium | $1,000,000 | $1,000,000 | $1,000,000 |
| Premium Enhancement Available | Yes (Plus only) | Yes (Plus only) | Yes |
| Free Withdrawal Provisions | 10% (Year 1+) | 5% (Years 2+) | 10% (Year 1) |
Current Rates & Crediting Strategies
Athene Performance Elite 7
The Athene Performance Elite 7 is suited for investors who want to commit for a short period of time while still benefiting from multiple growth strategies.
| Feature | Details |
|---|---|
| Fixed Account | 1-year declared fixed rate |
| 2-Year Point-to-Point (No Cap) | AI-Powered Global Opportunities (AIGO) AI-Powered US Equity (AIPEX) BNP Paribas Multi Asset Diversified 5 (BNPIMAD5) Nasdaq FC (BOFANFCC) S&P 500 FC (SPXFCDUE) UBS Innovative Balanced (UBSIBAL) |
| 1-Year Point-to-Point (No Cap) | AI-Powered Global Opportunities (AIGO) AI-Powered US Equity (AIPEX) BNP Paribas Multi Asset Diversified 5 (BNPIMAD5) Nasdaq FC (BOFANFCC) S&P 500 FC (SPXFCDUE) UBS Innovative Balanced (UBSIBAL) |
| 1-Year Point-to-Point (Cap) | S&P 500® (SPX) |
| Notes & Guarantees | 7-year surrender charge schedule Market value adjustment (MVA) applied 10% free withdrawal annually (noncumulative) |
Athene Performance Elite 10
The Performance Elite 10 offers a middle ground between the shorter 7-year option and the longer 15-year commitments.
The 10-year option may be the best option for people who want a balance between growth potential and flexibility, with slightly longer commitment but the chance to benefit from higher rate adjustments.
| Feature | Details |
|---|---|
| Fixed Account | Declared fixed rate that resets periodically |
| 2-Year Point-to-Point (No Cap) | AI-Powered Global Opportunities (AIGO) AI-Powered US Equity (AIPEX) BNP Paribas Multi Asset Diversified 5 (BNPIMAD5) Nasdaq FC (BOFANFCC) S&P 500 FC (SPXFCDUE) UBS Innovative Balanced (UBSIBAL) |
| 1-Year Point-to-Point (No Cap) | AI-Powered Global Opportunities (AIGO) AI-Powered US Equity (AIPEX) BNP Paribas Multi Asset Diversified 5 (BNPIMAD5) Nasdaq FC (BOFANFCC) S&P 500 FC (SPXFCDUE) UBS Innovative Balanced (UBSIBAL) |
| 1-Year Point-to-Point (Cap) | S&P 500® (SPX) |
| Notes & Guarantees | Rates reset periodically Participation, caps, or spreads depend on index choice and optional riders Free withdrawal options may apply per contract Market value adjustment (MVA) applies for early withdrawals |
Athene Performance Elite 15 (Plus)
The Performance Elite 15 and 15 Plus are long-term annuity options built for clients who want the highest potential upside and are willing to commit their funds for 15 years.
These versions often include substantial upfront premium bonuses - sometimes as high as 20% - but those bonuses come with vesting schedules and recapture provisions if the contract is surrendered early.
| Feature | Details |
|---|---|
| Fixed Account | First-year fixed yield (varies by version) |
| 2-Year Point-to-Point (No Cap) | AI-Powered Global Opportunities (AIGO) AI-Powered US Equity (AIPEX) BNP Paribas Multi Asset Diversified 5 (BNPIMAD5) Nasdaq FC (BOFANFCC) S&P 500 FC (SPXFCDUE) UBS Innovative Balanced (UBSIBAL) |
| 1-Year Point-to-Point (No Cap) | AI-Powered Global Opportunities (AIGO) AI-Powered US Equity (AIPEX) BNP Paribas Multi Asset Diversified 5 (BNPIMAD5) Nasdaq FC (BOFANFCC) S&P 500 FC (SPXFCDUE) UBS Innovative Balanced (UBSIBAL) |
| 1-Year Point-to-Point (Cap) | S&P 500® (SPX) |
| Notes & Guarantees | Upfront premium bonus may apply (varies by version) Guaranteed minimum floor (around 0.25%) 15-year surrender charge period Market value adjustment (MVA) applies Bonus subject to vesting/recapture if surrendered early |
Key Features & Benefits
The Athene fixed index annuity is overall a strong choice for long-term retirement, primarily because of its rates, different term lengths, and features. Let’s look closer at what the insurer offers:
Growth Potential with Crediting Strategies
No matter which Athene Performance Elite annuity you choose, each of them earns a guaranteed interest rate. This translates into a steady growth rate and predictability, which many pre-retirees look for.
A guaranteed minimum of zero percent ensures that the account value will never drop due to negative market performance.
Principal Protection
This annuity also protects your initial premium from market downturns.
Unlike direct stock investments, your account value cannot decrease due to negative market conditions.
Optional Income Rider
You can purchase optional income riders that can convert the contract into a guaranteed lifetime income stream, regardless of market performance.
Bonus Features
Some versions, such as the Performance Elite 15 Plus, include premium bonuses that increase the contract value upfront.
These bonuses can provide a significant early boost, although they may be subject to vesting schedules if the contract is surrendered early.
Access to Your Money When You Need It
Clients have options to access their funds through annual free withdrawals. The allowed percentages vary, but they are typically up to 5% or 10% penalty-free withdrawals.
Death Benefits
If the annuity owner passes away, the accumulated value of the contract is paid directly to beneficiaries.
Death benefit payouts are free from surrender charges and market value adjustments, ensuring that heirs receive the full value of the annuity.
Fees, Surrender Periods & Liquidity
Athene Performance Elite annuities include a surrender charge schedule that applies when you withdraw amounts above your annual free withdrawal allowance.
If you withdraw more money from your annuity account than allowed for a penalty-free withdrawal, MVA is applied. MVA is a market value adjustment that can increase or decrease the payout based on the interest rate.
Athene Performance Elite 7 Surrender Charge
| Contract Year | Y1 | Y2 | Y3 | Y4 | Y5 | Y6 | Y7 | Y8 |
|---|---|---|---|---|---|---|---|---|
| Charge % | 9% | 8.8% | 7.9% | 6.9% | 5.9% | 5.0% | 4.0% | 0% |
Athene Performance Elite 10 Surrender Charge
| Contract Year | Y1 | Y2 | Y3 | Y4 | Y5 | Y6 | Y7 | Y8 | Y9 | Y10 | Y11 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Charge % | 12% | 12% | 12% | 11% | 10% | 9% | 8% | 7% | 6% | 4% | 0% |
* Please note that charge rates may vary based on your state
Athene Performance Elite 15 Surrender Charge
| Contract Year | Y1 | Y2 | Y3 | Y4 | Y5 | Y6 | Y7 | Y8 | Y9 | Y10 | Y11 | Y12 | Y13 | Y14 | Y15 | Y16 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Charge % | 15% | 15% | 14% | 14% | 13% | 13% | 12% | 11% | `10% | 9% | 8% | 7% | 6 | 5% | 4% | 0% |
Pros and Cons
Athene Performance Elite annuities can be the investment that may help you secure a comfortable retirement. However, as with every investment, there are a few downsides you should be aware of:
| ✅ Pros | ❌ Cons |
|---|---|
| ✔️ Opportunity for growth tied to index performance ✔️ Protection from market losses, even during downturns ✔️ Upfront premium bonuses increase initial contract value for Plus annuities ✔️ Optional lifetime income guarantees for retirement security ✔️ Flexible access to funds through penalty-free withdrawals ✔️ Backed by strong financial strength ratings from S&P, Fitch, and A.M. Best | ➖ Early withdrawals beyond free limits may incur surrender charges and market value adjustments ➖ Premium bonuses may be subject to vesting rules ➖ Availability may be limited in certain states |
How It Compares
Athene Performance Elite vs Allianz 360™
| Item | Athene Performance Elite (7/10/15/15 Plus) | Allianz 360™ Annuity |
|---|---|---|
| Issuer | Athene Annuity & Life Company | Allianz Life Insurance Company of North America |
| Type | Fixed Indexed Annuity (deferred) | Fixed Indexed Annuity (deferred) |
| Typical Terms | 7, 10, 15 years | 10 years |
| Minimum Premium | $10,000 | $20,000 |
| Index Options / Methods | ✔️ S&P 500® + volatility-controlled indices ✔️ Fixed account ✔️ Mix of annual/bi-annual point-to-point, cap/participation/spread | ✔️ S&P 500® and proprietary/partner indices ✔️ Annual & multi-year point-to-point with caps or participation ✔️ Fixed account |
| Liquidity | Free withdrawals of up to 10% | Free withdrawals of up to 10% |
| Income Features | ✔️ Optional income riders on some versions ✔️ Lifetime income options ✔️ 15 Plus adds bonus/liquidity features | ✔️ 360 Benefit® rider targets growing lifetime income (fee applies) ✔️ Interest bonus credited when interest is earned (until income starts) |
Athene Performance Elite vs. Security Benefit Strategic Growth
| Item | Athene Performance Elite (7/10/15/15 Plus) | Security Benefit Strategic Growth |
|---|---|---|
| Issuer | Athene Annuity & Life Company | Security Benefit Life Insurance Company |
| Type | Fixed Indexed Annuity (deferred) | Fixed Indexed Annuity (modified single premium, deferred) |
| Typical Terms | 7, 10, 15 years | 10 years |
| Minimum Premium | $10,000 | $25,000 |
| Index Options / Methods | ✔️ S&P 500® + volatility-controlled indices ✔️ Fixed account ✔️ Mix of annual/bi-annual point-to-point, cap/participation/spread | ✔️ Multiple underlying indices ✔️ Fixed account ✔️ Accumulation-oriented |
| Liquidity | Free withdrawals of up to 10% | Free withdrawals of up to 10% |
| Income Features | ✔️ Optional income riders on some versions ✔️ Lifetime income options ✔️ 15 Plus adds bonus/liquidity features | ✔️ Rate Buy-Up Feature |
Athene Performance Elite vs Nationwide Summit
| Item | Athene Performance Elite (7/10/15/15 Plus) | Nationwide Summit |
|---|---|---|
| Issuer | Athene Annuity & Life Company | Nationwide Life Insurance Company |
| Type | Fixed Indexed Annuity (deferred) | Single-purchase-payment Deferred Fixed Indexed Annuity |
| Typical Terms | 7, 10, 15 years | 7 years |
| Minimum Premium | $10,000 | $25,000 |
| Index Options / Methods | ✔️ S&P 500® + volatility-controlled indices ✔️ Fixed account ✔️ Mix of annual/bi-annual point-to-point, cap/participation/spread | ✔️ S&P 500® and partner indices (e.g., J.P. Morgan Mozaic℠) ✔️ Fixed account ✔️ Standard FIA methods |
| Liquidity | Free withdrawals of up to 10% | Free withdrawals of up to 10% |
| Income Features | ✔️ Optional income riders on some versions ✔️ Lifetime income options ✔️ 15 Plus adds bonus/liquidity features | ✔️ Income options via annuitization ✔️ Riders available, depending on the configuration |
Who This Annuity Is Best For
Athene Performance Elite annuities are best suited for investors who:
☑️ Are looking for tax-deferred growth to help their retirement savings compound
☑️ Want the security of a guaranteed income that lasts throughout retirement
☑️ Prefer to protect their principal from market declines while still capturing potential gains
☑️ Value the ability to access their money through flexible, penalty-free withdrawals or special waivers
☑️ Wish to provide a death benefit for their beneficiaries
How to Buy & Next Steps
Are you ready to find the annuity solution that secures your retirement?
FAQs
What is the minimum investment for Performance Elite annuities?
The minimum investment for Performance Elite annuities is a $10,000 lump payment.
Are the interest rates locked in?
With the Performance Elite annuities, your account earns a fixed interest rate and is linked to a market index, so you can earn more when the index performs well.
Can I add an income rider to my annuity?
Before finalizing the contract, you can add income riders that add more value and security, but usually come at an additional cost.
What happens if I need access to my money early?
Each annuity allows for free withdrawals up to a certain percentage of your account value annually.
If you withdraw more than the allowed amount, you may be subject to surrender charges and market value adjustments (MVA).
Is there a death benefit?
Yes, all Performance Elite annuities include a death benefit, meaning the accumulated value is paid to your beneficiaries free from surrender charges or MVA.
Similar Products
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Annuity Expert
Jeremiah Konger
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