Athene Annuity and Life Company, a subsidiary of Athene Holding Ltd. (NYSE: ATH), announced today the launch of Athene AgilitySM, a new addition to their suite of fixed indexed annuity (FIA) products designed to help retirees achieve their goals for retirement savings and income. Agility adapts to retirees’ needs whether for growth, income or help with the unexpected. It offers a fixed crediting strategy and indexed crediting strategies with protection from market downturns; liquidity for help with the unexpected; a death benefit for beneficiaries; and opportunities to accumulate wealth for retirement. These features give retirees the flexibility to plan for future income needs. This versatile product automatically includes a built-in income and death benefit rider at no additional charge.
“Research shows 84 percent of retirees do not have a formal retirement plan. Even those that do must deal with the unexpected. For example, 55 percent of retirees stop working earlier than they anticipated, mainly due to health reasons or job loss,” said Chris Grady, executive vice president and head of retail sales at Athene USA.* “Athene Agility has the potential to grow and adapt to changing needs, turning every stage of retirement into an opportunity.”
With Athene Agility, retirees can rely on protection from loss due to stock market downturns. Growth potential comes from eight indexed crediting strategies, including market indices exclusive to Athene, and both 1- and 2-year interest crediting terms. Agility’s built-in rider helps customers achieve long-term goals for income and legacy with a Benefit Base bonus and participating features in both the growth and income phases. Currently the Benefit Base grows by 175 percent of any interest credits that are added to the annuity’s Accumulated Value. Once income begins, the income amount may grow each year by a percentage, currently 100 percent, of any interest credited that year to the Accumulated Value. Customers can start receiving income following a waiting period equal to the product’s withdrawal charge period.
Retirees will benefit from the adaptability of the product. In addition to the built-in Income and Death Benefit rider, customers enjoy several liquidity features, including free annual withdrawals up to 10 percent based on the greater of the accumulated value or initial premium.
For more information on Athene Agility and the Athene product suite, visit www.athene.com.
Athene USA, the #2 carrier in fixed indexed annuity sales,** is an Iowa-domiciled corporation that serves as the U.S. holding company for Athene’s annuity operations in the United States, including Athene Annuity and Life Company, Athene Annuity & Life Assurance Company and Athene Annuity & Life Assurance Company of New York. Headquartered in West Des Moines, Iowa, Athene USA serves customers in all 50 states, and through its predecessor companies, has been serving American consumers for more than 100 years.
This annuity has limitations and charges. For costs and complete details, please request a Certificate of Disclosure.
The interest earned is subject to certain limitations such as an Annual Spread, a Cap Rate, and Participation Rate. These limitations are declared by the Company before the beginning of each Index Term Period. Please note that the interest you earn may be zero; however, the interest that you earn will never be less than zero.
Withdrawals and surrender of taxable amounts are subject to ordinary income tax, and except under certain circumstances, will be subject to an IRS penalty if taken prior to age 59 1⁄2. Withdrawals are not credited with index in the year they are taken. Withdrawals in excess of the free amount are subject to a Withdrawal Charge and MVA which may result in the loss of principal.
Athene Agility [GEN (09/15) NB], Income and Death Benefit Rider [IR (06/18)] and Enhanced Income Benefit Endorsement [EIBR (06/18)] or state variations are issued by Athene Annuity and Life Company, West Des Moines, IA. Product features, limitations and availability vary; see the Certificates of Disclosure for details. Products not available in all states. This material is provided by Athene Annuity and Life Company (61689) headquartered in West Des Moines, Iowa, which issues annuities in 49 states (including MA) and D.C., and Athene Annuity & Life Assurance Company of New York (68039) headquartered in Pearl River, New York, which issues annuities only in New York.
Athene annuities are products of the insurance industry and not guaranteed by any bank nor insured by FDIC or NCUA/NCUSIF. May lose value. No bank/credit union guarantee. Not a deposit. Not insured by any federal government agency. May only be offered by a licensed insurance agent.
References:
* “The Benefits of Retirement Planning,” LIMRA Secure Retirement Institute 2016.“Finances in Retirement: New Challenges, New Solutions,” Age Wave/Merrill Lynch 2017.
** LIMRA Secure Retirement Institute, U.S. Individual Annuity Industry Sales Report for the first quarter 2018.
