✅ Athene MYG Assure Overview
The Athene MYG Assure is a Multi-Year Guarantee (MYG) Annuity designed for individuals seeking guaranteed growth, income options, and principal protection. Issued by Athene Annuity and Life Company, it is intended for long-term retirement planning.
📈 Key Features
1. Guaranteed Fixed Interest
- Offers 3, 5, and 7-year term periods.
- The interest rate is guaranteed for the full term you select.
- At the end of the term, the value moves to a 1-Year Fixed Strategy with a declared annual renewal rate (minimum guaranteed).
2. Premium Range
- Minimum: $5,000
- Maximum: $1 million (larger amounts with approval)
3. Tax Deferral
- Interest grows tax-deferred until you take a withdrawal.
- IRAs already offer tax deferral, so the main benefits here are income options and legacy planning.
💵 Liquidity & Access
Free Withdrawals
- Up to 10% of the Accumulated Value per year after the first year without charges.
Required Minimum Distributions (RMDs)
- Treated as part of the free withdrawal, even if above 10%.
Waiver Benefits
- Confinement Waiver: Withdraw up to 100% if confined to a qualified care facility (after 1 year).
- Terminal Illness Waiver: 100% withdrawal allowed if diagnosed with a terminal illness (after 1 year).
- Note: Not available in California.
🔐 Withdrawal Charges
If you withdraw more than the free amount or surrender early:
- 3-Year Term: Up to 8% charge in Year 1, decreasing by Year 3.
- 5-Year Term: Charges decrease from 8% in Year 1 to 4% by Year 5.
- 7-Year Term: Charges decrease from 8% to 3% over the term.
💰 Income & Legacy Options
Annuitization
- Turn your contract into guaranteed income for:
- A fixed period
- Lifetime
- Joint lifetime (you and a spouse)
- Once annuitized, terms cannot be changed.
Death Benefit
- Pays greater of Accumulated Value or Minimum Guaranteed Contract Value to beneficiaries.
- Available before annuitization only.
🛡️ Financial Strength
Athene is backed by strong ratings and is a subsidiary of Apollo Global Management:
- S&P: A+
- Fitch: A+
- A.M. Best: A+
- Moody’s: A1
(As of 2024; all are upper-tier ratings.)
📌 Considerations
Pros
- Predictable, guaranteed returns
- Protection from market volatility
- Multiple liquidity options
- Strong income and legacy planning tools
- Backed by a financially solid company
Cons
- Limited access to funds during the withdrawal charge period
- No return of premium guarantee
- Potential surrender charges
- Tax penalties on early withdrawals before age 59½
- Benefits may vary by state
🔍 Conclusion
The Athene MYG Assure annuity is well-suited for individuals looking for:
- Safe, tax-deferred growth
- Protected retirement income
- A way to leave a financial legacy
It’s a strong candidate if you value stability over aggressive growth, have a medium to long-term horizon, and want some access to funds without full market exposure.
We'll end with a note that we are an independent firm which gives us the advantage of being entirely objective when it comes to recommending a product or service, so if you feel like you would like a second opinion from us regarding this annuity, or something else, feel free to contact us for a nice chat.
Best Regards,
Derek Notman & Drew Faloon
