Athene Protector Fixed Indexed Annuity: A Comprehensive Review
Overview
Athene Protector is a fixed indexed annuity designed to provide security, flexibility, and growth potential for retirement savings. It combines market-linked interest crediting strategies with downside protection, making it a compelling option for those seeking financial stability in their later years.
Key Features
- Return of Premium Guarantee
- Allows policyholders to surrender their annuity during the withdrawal charge period and receive their initial purchase premium (minus any prior withdrawals).
- Minimum Interest Credit Guarantee
- Ensures that if the total interest credited to the annuity is below a set threshold by the end of the withdrawal charge period, a one-time credit will be applied to make up the difference.
- Market Downside Protection
- The indexed interest strategies ensure that the annuity’s accumulated value never decreases due to market downturns.
- Growth Potential Through Indexed & Fixed Strategies
- Offers 1-year point-to-point index crediting strategies based on stock market performance with a 0% minimum interest rate.
- A fixed interest strategy with a guaranteed rate is available.
- Penalty-Free Withdrawals
- Up to 10% of the annuity’s value can be withdrawn each contract year without a penalty.
- Confinement and Terminal Illness Waivers
- Policyholders can access their full accumulated value if they are confined to a qualified care facility for at least 60 consecutive days after the first contract year.
- Terminal illness waivers allow full access if diagnosed with a terminal illness expected to result in death within a year.
- Death Benefit Protection
- The annuity guarantees beneficiaries receive the greatest value among the accumulated value, minimum guaranteed contract value, or return of premium benefit.
- Bailout Feature
- If the company lowers the 1-year point-to-point index strategy’s annual cap rate below the bailout cap rate, policyholders can access their full accumulated value penalty-free for a limited time.
Financial Strength & Stability
Athene has strong financial ratings:
- A+ by S&P, Fitch, and A.M. Best
- A1 by Moody’s
These ratings reflect the company’s ability to meet its ongoing financial obligations, giving policyholders confidence in the insurer’s stability.
Potential Drawbacks
- Withdrawal Charges: If withdrawals exceed the allowed free amount before the withdrawal charge period ends, penalties apply.
- Rider Charges: The return of premium rider incurs additional charges deducted from the accumulated value.
- Not Available in All States: Some features may not be available in certain states.
Who Should Consider This Annuity?
The Athene Protector annuity is best suited for individuals seeking:
✅ Guaranteed Protection – Assurance against market losses.
✅ Retirement Security – A safe way to grow savings with flexible withdrawal options.
✅ Tax-Deferred Growth – Interest accumulation without immediate tax implications.
✅ Financial Flexibility – Access to funds under certain life circumstances (e.g., illness or confinement).
Final Verdict
Athene Protector offers a solid combination of security, growth potential, and flexible withdrawal options. While it provides strong protection from market downturns, policyholders must be aware of withdrawal and rider charges. Overall, it's a well-structured annuity for those prioritizing financial security in retirement.
