Athene Performance Elite® Review: Everything You Need to Know
- Derek Notman
- Jul 2
- 4 min read
Updated: Aug 7
The Athene Performance Elite® Fixed Indexed Annuity: Your Path to a Secure Retirement
Introduction
Planning for retirement can feel overwhelming. You're juggling the need for financial growth, security, and flexibility. The Athene Performance Elite® Fixed Indexed Annuity is here to help you grow your retirement savings while protecting your funds from market risks. In this comprehensive review, I’ll break down everything you need to know about this annuity, including its benefits, features, and potential drawbacks.
What Is Athene Performance Elite?
The Athene Performance Elite is a fixed indexed annuity (FIA). It allows policyholders to grow their savings with interest crediting strategies tied to external market indexes—all while protecting their money from market downturns.
Who Is It For?
This annuity is perfect for individuals who:
✅ Want tax-deferred growth on their retirement savings.
✅ Seek guaranteed lifetime income.
✅ Want protection from stock market losses.
✅ Prefer flexibility with liquidity options.
✅ Want to leave a death benefit for their loved ones.
Key Features of Athene Performance Elite
✅ 1. Growth with Market Protection
Unlike direct stock market investments, your money is never at risk due to market downturns. Interest is credited based on the performance of an external index, ensuring opportunities for growth without the risk of loss.
💡 Fixed & Indexed Credit Strategies:
Fixed Strategy – Provides a guaranteed rate of interest.
Indexed Strategy – Earns interest based on market index performance, with cap rates and participation rates.
✅ 2. Premium Bonus for Immediate Growth
A Premium Bonus is applied to your initial investment, giving you an immediate boost in value.
⚠ Note: The Premium Bonus is not available on the Performance Elite 7 and may include a vesting schedule.
✅ 3. Guaranteed Lifetime Income
When the annuity matures, you have options to convert it into a guaranteed stream of income—either for a fixed period or for the rest of your life.
💡 Payment Options:
Single or joint-life withdrawals
Lump-sum or periodic payments
Payments that increase over time based on interest credits
✅ 4. Liquidity & Access to Funds
Athene Performance Elite offers multiple ways to access your money, even before the contract term ends.
💰 Free Withdrawals:
Up to 10% annually (Performance Elite Plus allows up to 20% if no withdrawal was taken the previous year).
Required Minimum Distributions (RMDs) are also penalty-free.
🚑 Special Withdrawal Waivers:
Confinement Waiver: Withdraw funds penalty-free if confined to a qualified care facility (after one year).
Terminal Illness Waiver: If diagnosed with a terminal illness, up to 100% of the funds can be accessed.
✅ 5. Death Benefit & Legacy Planning
Athene Performance Elite provides a Death Benefit to ensure your beneficiaries receive a payout.
💡 Payout Options:
Full accumulated value of the annuity.
Minimum Guaranteed Contract Value (ensuring a base payout).
Return of Premium (available only on Performance Elite Plus).
Potential Drawbacks
⚠ Withdrawal Charges & Market Value Adjustments (MVAs)
Early withdrawals exceeding the free withdrawal amount may incur withdrawal charges and MVAs.
MVAs can result in additional penalties if interest rates rise after purchase.
⚠ Premium Bonus Vesting Schedule
The Premium Bonus may be subject to a vesting schedule, meaning you may lose a portion if you withdraw funds too early.
⚠ Not Available in All States
Certain features, like Confinement Waivers, are not available in California and Massachusetts.
✅ Pros:
✔ Strong growth potential with index-linked interest.
✔ Zero market loss risk – even in downturns.
✔ Premium Bonus provides an upfront boost.
✔ Guaranteed lifetime income options.
✔ Liquidity features allow penalty-free access when needed.
✔ Strong financial backing (A+ ratings from S&P, Fitch, and A.M. Best).
❌ Cons:
❌ Withdrawal charges & MVAs may apply for early withdrawals.
❌ Premium Bonus is subject to vesting schedules.
❌ Not available in all states.
⭐ Overall Rating: 4.6/5
The Athene Performance Elite is a powerful retirement savings tool that offers growth potential, safety, and flexible withdrawal options. If you're looking for a market-protected way to grow your wealth, this could be the right annuity for you. However, be sure to review the contract terms and withdrawal limitations before making a decision.
Why Choose a Financial Advisor?
Navigating financial products can be tricky. That's where I come in! I’m here to help you understand your options and make informed decisions. You deserve clarity and confidence in your financial journey.
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. 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
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