Athene Performance Elite Annuity – Flexible Growth with Powerful Income Potential

The base vs. Plus decision is the most important Performance Elite choice and it is purely mathematical — it cannot be answered without modeling your specific premium and time horizon. The base contract: no annual fee, no premium bonus, credited interest stays fully in the accumulated value, no Liquidity Rider features. The Plus version: ~0.95% annual Liquidity Rider fee deducted from accumulated value throughout the surrender period; premium bonus credited immediately at issue (approximately 6% on the 7-year Plus, up to 15% on the 15-year Plus at current rates — confirm at application). The 0.95% annual fee over 7 years on $100,000 equals approximately $6,650 in cumulative fee impact assuming flat accumulation. The 6% premium bonus on the 7-year Plus adds $6,000 at issue. In this example, the fee and the bonus largely cancel over 7 years — and index performance determines whether Plus ends up ahead or behind the base contract. On the 15-year Plus version, the premium bonus is substantially larger relative to the fee accumulated over 15 years, making the Plus version generally more favorable over longer horizons with consistent index credits. Reviewing how rider fees work in annuities covers the fee mechanics. The correct answer requires a side-by-side illustrated comparison of base vs. Plus at your specific premium, time horizon, and index performance assumption — Diversified Insurance Brokers provides this before any application commitment. The Plus version also provides access to the enhanced liquidity features (larger cumulative withdrawal provisions) — if those matter to you independently of the fee calculation, that’s an additional consideration in favor of the Plus version.

This is the same evaluation question that applies to any FIA’s volatility-controlled index vs. standard benchmark comparison. The S&P 500 annual point-to-point cap strategy is the most transparent option: documented 70+ year history, no embedded costs, cap rate directly reflects what Athene can afford to pay based on current options pricing. In strong bull market years, the cap limits the credit — if the S&P 500 gains 25% and the cap is 9%, you credit 9%. In flat or declining years, you credit 0%. The volatility-controlled indices — BNPP MAD 5, AiPEX, Athene U.S. Rising Dividend — typically support higher participation rates because their controlled volatility methodology reduces Athene’s hedging costs. But this comes with trade-offs: in strong bull markets, volatility controls dampen equity exposure precisely when gains are largest, so these indices often credit less than the raw S&P 500 would have. The BNPP MAD 5 also carries a 0.50% per annum embedded index servicing cost that reduces the index performance before the participation rate is applied — this is not a separate charge but it functions like an invisible spread. The Performance Strategy Rider (PSR) unlocks higher participation rates on the proprietary strategies and access to uncapped strategies — but at an annual fee cost that must be weighed against the improved participation. Reviewing how FIA crediting methods work provides the full analytical framework. Many Performance Elite buyers diversify across multiple strategies — S&P 500 for transparency and documented track record, one or two volatility-controlled strategies for potentially higher participation in moderate markets — rather than committing 100% to one approach.

Athene’s FIA lineup covers distinct objectives. The Performance Elite occupies the pure accumulation position — no income rider, maximum growth focus, multiple term options. Choose it when accumulation is the sole objective and lifetime income is not needed from this contract during the surrender period. The Athene Ascent Pro 10 Bonus includes a built-in income rider from day one — 10% accumulation bonus, 20% income base bonus, guaranteed income base roll-up, and a health event income multiplier. Right when guaranteed lifetime income is the primary objective, not accumulation. The Athene Agility includes built-in income and death benefit riders at no additional charge alongside a 50% premium bonus — designed for buyers who want both accumulation flexibility and built-in income protection. The Athene AccuMax 7 is a 7-year accumulation FIA with multi-year crediting strategies — an alternative for buyers who want a shorter surrender period. The Performance Elite’s distinctive strengths are its index menu diversity (S&P 500 plus multiple volatility-controlled options), the Diversified Target Blend pre-built allocation, and the optional Performance Strategy Rider for buyers who want to maximize participation rates. Its distinctive limitation is the absence of an income rider — buyers who want growth today and income tomorrow from the same contract, without annuitizing, need a different product. For buyers comparing the Performance Elite against competing accumulation FIAs from other carriers — including the Allianz Accumulation Advantage+ and other A+ accumulation FIAs — current illustrated accumulated value comparisons at your specific premium and term provide the definitive answer.

Four principal strategies exist for converting Performance Elite accumulated value into retirement income. First, systematic withdrawals: take the 10% annual penalty-free withdrawal to supplement income during the surrender period, then access the full accumulated value penalty-free at maturity for ongoing income. This is the most flexible approach but requires careful withdrawal rate management to avoid depleting principal. Second, annuitization: after the surrender period (or in limited earlier windows depending on the version), irrevocably convert the accumulated value into a lifetime or period-certain income stream. Annuitization provides maximum income certainty but eliminates lump-sum access. Reviewing whether to annuitize or use an income rider covers when annuitization makes sense. Third, 1035 exchange at maturity: roll the full accumulated value penalty-free into an income-focused FIA — such as the Athene Ascent Pro 10 Bonus or a comparable product with a built-in GLWB — to access lifetime income without annuitizing. This preserves the lump-sum accumulation value as a separate quantity alongside the income guarantee. Fourth, SPIA conversion: 1035-exchange into the Athene Activate SPIA or a competing single premium immediate annuity to convert the full accumulated value into an immediate guaranteed payment stream. The correct approach depends on whether you need income immediately at maturity or can defer income further, whether you want to preserve lump-sum access, and how important legacy goals are. The Performance Elite’s role in this sequence is as the accumulation engine — building the largest possible value base over the surrender period, then transitioning that value efficiently into an income structure at maturity.

The term decision involves three elements: the premium bonus differential, the participation rate or cap differential between terms, and your actual planning horizon for this capital. Longer terms — the 15-year Performance Elite Plus — typically offer meaningfully larger premium bonuses (up to 15% vs. ~6% on the 7-year Plus) because the carrier has more time to recoup the bonus cost before the contract matures. They also often support stronger participation rates or caps on index strategies because the longer horizon provides more options hedging flexibility. The 7-year version is appropriate when the planning horizon for this capital is genuinely 7–10 years — perhaps a buyer who is 62 and wants the Performance Elite to mature around retirement at 69, then transition to income. The 15-year version is appropriate for a 50-year-old who has a genuine 15+ year horizon for this capital and wants to maximize the bonus and crediting strength over that window. The critical error: choosing the 15-year version when the buyer’s realistic horizon is 8–10 years. Surrender charges persist for the full 15-year period, and the bonus vesting schedule extends through that window — a buyer who needs to exit at year 8 on a 15-year contract faces substantial early-exit costs. Reviewing how surrender charges work and modeling the specific early-exit cost at year 8 on the 15-year version vs. a clean exit at year 8 on the 7-year version (one year after maturity) quantifies the term commitment cost. The right term is the one that matches the actual planning horizon — not the one that maximizes the stated bonus percentage.