Athene Annuities: 2024 Review

Athene annuities have emerged as a significant choice for individuals planning their retirement or those already retired. These annuities offer a range of benefits similar to Pacific Life and Allianz, such as a guaranteed income for life, growth that is tax-deferred, and potential protection against inflation. This thorough review will delve into the various types of Athene annuities, evaluating their advantages and disadvantages, and comparing them with other financial instruments. It also includes insights into Athene’s financial strength, ratings, fees, and surrender charges associated with their annuities. By the end of this review, you’ll have a clearer understanding of Athene annuities and can assess if they align with your retirement planning goals.

 

Athene Annuities: Types and Features

Athene provides a diverse array of annuity products designed to accommodate the distinct financial aspirations and risk tolerances of individuals. Their offerings include fixed annuities, indexed annuities, and variable annuities:

Fixed Annuities: These offer a fixed interest rate for a set duration, typically from one to ten years. The rate is determined at purchase and remains constant, providing a predictable income stream.

Indexed Annuities: Linked to stock market indices like the S&P 500, these annuities offer higher potential returns than fixed annuities, with a degree of protection during market downturns. Returns are based on index performance, with a minimum guaranteed interest rate.

Variable Annuities: Ideal for those with a higher risk appetite, these annuities are invested in various subaccounts including stocks, bonds, and mutual funds. Returns depend on the performance of these subaccounts, hence they carry a risk of both gain and loss.

Athene’s annuities are accessible through financial advisors, insurance agents, and other financial professionals, emphasizing the importance of expert consultation to select the most suitable annuity for your goals.
 

Pros of Athene Annuities:

Guaranteed Income: They provide a stable income stream for life, essential for retirement security.

Competitive Rates: Designed to foster savings growth over time.

Strong Financial Stability: Athene is known for its financial robustness and consistent claim payments.

Diverse Product Range: Offers a variety of annuities to match different needs and risk profiles.

Customizable Options: Various riders and features allow for personalization to meet specific requirements.

Outstanding Customer Support: Known for their excellent customer service, assisting clients in maximizing annuity benefits.
of Athene Annuities:
 

Cons of Athene Annuities:

Limited Flexibility: Like most annuities, they offer less adaptability compared to other investment forms.

Possibility of High Fees: Important to consider and compare annuity fees which can impact overall returns.

Complex Nature: Due to their intricacy, thorough research and professional advice are essential.
 

Financial Strength and Ratings

Athene Holding Ltd., known for its strong financial ratings, is a key player in the retirement services sector. Rated favorably by agencies such as AM Best and Standard & Poor’s, Athene demonstrates a solid capacity to meet its financial commitments to policyholders. Its long-standing history in the industry and commitment to customer service further bolster its reputation as a reliable annuity provider.

 

Fees and Surrender Charges

Athene annuities include various fees and surrender charges, such as one-time surrender fees, annual administrative fees, monthly maintenance fees, and market value adjustment (MVA) fees. Withdrawals exceeding certain limits may also incur fees. These are structured to encourage long-term investment.

Alternatives to Athene Annuities

Fixed Annuities from Other Insurers: These might offer different rates and fee structures.

Variable Annuities: For potentially higher returns at increased risk levels.

Deferred Income Annuities: Suitable for deferred retirement income planning.

Indexed Annuities: Offering variable returns based on market indices, for those willing to accept more risk.

It’s crucial to align your choice of annuity with your personal financial situation and risk tolerance. A financial advisor can provide invaluable guidance in selecting the right annuity.

Key Takeaways

Athene annuities present versatile options for retirement planning, with fixed, indexed, and variable annuities available. They offer guaranteed income and are backed by Athene’s financial strength. However, it’s important to weigh the pros and cons, including potential fees and the complex nature of annuities. Consulting with an expert in annuities is recommended to explore a wide range of options from various companies and find the best fit for your financial plans. Checking annuity rates with a is an excellent starting point.