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Make your money work for the long term.
Athene Performance Elite ® Fixed Indexed Annuity and Liquidity Rider
This material is provided by Athene Annuity and Life Company headquartered in West Des Moines, Iowa, which issues annuities in 49 states and D.C., and Athene Annuity & Life Assurance Company of New York headquartered in Pearl River, New York, which issues annuities only in New York. Products not available in all states. 68000 (11/07/23) INVESTMENT AND INSURANCE PRODUCTS ARE: • NOT FDIC INSURED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, THE BANK OR ANY OF ITS AFFILIATES • SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED This material is provided by Athene Annuity and Life Company (61689) headquartered in West Des Moines, Iowa, which issues annuities in 49 states (excluding NY) and in D.C. Product features and availability may vary by state and/or sales distributor.
At Athene, we believe retirement isn’t the end of a job. It’s the beginning of your life’s best work. That’s why we’re driven to deliver financial solutions that outperform so you can dare to dream big. Backed by the strength and stability of a market leader, Athene annuities are built to give you the confidence to retire…better.
Security you can count on Policyholder protection is our top priority. Because we know we do more than help protect your finances. We help protect your dreams.
Annuities built for you A leader in fixed and index-linked annuities, we offer solutions that give you the flexibility
Driven to outperform For over 100 years, the drive, discipline and confidence of Athene and its acquired companies have helped customers achieve more.
to adapt as your needs change.
Financial Strength Ratings 1 A+ S&P rating as of 12/2022 A+ Fitch rating as of 9/2023 A A.M. Best rating as of 5/2023 A1 Moody’s rating as of 7/2023
Financial Highlights 2
$243.9 billion in total GAAP assets $233.4 billion in total GAAP liabilities $7.2 billion in total GAAP AHL shareholders’ equity
Athene & Apollo: A Powerful Combination Athene’s strategic partner Apollo is a global asset manager that strives to generate predictable and recurring yield across
market cycles. Apollo’s investment expertise combined with Athene’s leadership in fixed annuities brings strength, opportunity and innovation.
Athene is a subsidiary of Apollo Global Management.
Please refer to back page for footnotes.
An Athene Performance Elite fixed indexed annuity may be right for you if you want…
Guarantees You can choose the certainty of a fixed rate of interest that is declared each year by the insurance company and subject to minimum guarantees. Your annuity will always have a Minimum Guaranteed Contract Value. Growth Potential You can pursue additional growth with interest credits that are based in part on the performance of an external market index. A Premium Bonus Athene Performance Elite annuities include a bonus that’s applied to the money you use to purchase your annuity. 1 Protection There is no direct downside market risk to your money.
Tax Deferral Annuities provide the advantage of tax- deferred interest accumulation. You don’t pay taxes on any growth until you withdraw money. 2 Income At the annuity’s maturity date, you have options to create a regular stream of income — either for a certain period of time or for the rest of your life. A Death Benefit Your annuity can offer your loved ones a quick source of funds to settle matters after your death. 3
1 A Premium Bonus is not available on Performance Elite 7. Premium Bonus annuities include a Premium Bonus Vesting Schedule and may include a lower Cap Rate, lower Participation Rate or other limitations not included in similar annuities that don’t offer a Premium Bonus. 2 Current law already provides tax deferral to IRAs, so there is no additional tax benefit obtained by funding an IRA with an annuity. Consider the other
benefits provided by an annuity, such as lifetime income and a Death Benefit. 3 After annuitization, payments will be consistent with the settlement option selected.
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Protect and grow your retirement nest egg. Whatever life sends your way.
The primary purpose of Athene Performance Elite fixed indexed annuities is to help you accumulate money for retirement. They feature a variety of interest crediting strategies that are designed to grow your money and help protect you from market downturns.
But growing your savings doesn’t mean giving up access to your money.
Athene Performance Elite Plus annuities include a Liquidity Rider, for an annual charge, that gives you additional flexibility should the need arise. Athene Performance Elite Plus also provides an enhanced Premium Bonus, which will give an immediate increase to your annuity’s Accumulated Value. Premium Bonus The Athene Performance Elite annuities include a Premium Bonus that is credited at issue and provides an immediate increase to your annuity’s Accumulated Value. 1 The bonus and any earnings on the bonus are subject to a Premium Bonus Vesting Adjustment. See page 11 for additional information.
1 Premium Bonus not available on Performance Elite 7.
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Athene Performance Elite 7
Athene Performance Elite 10 & 15
Athene Performance Elite annuities include:
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Premium Bonus
Confinement Waiver of Withdrawal Charges (Not Available in CA & MA) Terminal Illness Waiver of Withdrawal Charges (Not Available in CA)
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Free Withdrawals
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• 5% (Years 2+) • 10% (Year 1+) • Required Minimum Distributions (Year 1+)
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Athene Performance Elite 7 Plus
Athene Performance Elite 10 & 15 Plus
Athene Performance Elite Plus annuities include:
Rider Charge
0.95%
0.95%
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Premium Bonus
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Enhanced Premium Bonus
Confinement Waiver of Withdrawal Charges (Not Available in CA & MA) Terminal Illness Waiver of Withdrawal Charges (Not Available in CA) Free Withdrawals • Required Minimum Distributions (Year 1+)
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Enhanced Free Withdrawals • 10% (Year 1+)
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Enhanced Liquidity • Access to 20% free withdrawal if no withdrawal taken prior year
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Return of Premium (After 4th contract year)
Enhanced Annuitization ( Not Available in CA or FL)
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Growing your money. Here are the strategies you can choose from to determine how interest gets credited to your annuity. Fixed Crediting Strategy The fixed crediting strategy provides a guaranteed rate of interest that is used to calculate and credit interest to your annuity daily. Athene declares the rate each Contract Year. Indexed Crediting Strategies With indexed crediting strategies, you receive interest credits linked in part to the performance of external market indices. A Cap Rate or a Participation Rate, established at the start of each Index Term Period, is used to calculate any interest earned. 1 Credits are applied at the end of each term. Indexed interest crediting strategies include guaranteed protection from loss due to market downturns. While you may receive a 0% interest credit at the end of a term period, you will never receive less than 0%.
Optional Strategy Charge Higher Cap and Participation Rates are available with a strategy charge. Annual Strategy Charges are calculated on the contract anniversary and deducted monthly from the Accumulated Value. 2
Strategy Charge Credit A one-time Strategy Charge Credit will be added to the Accumulated Value at the end of the Withdrawal Charge Period, if the sum of all strategy charges applied, minus the sum of all interest credits, is greater than zero. 3
Strategy Preset Strategy Preset is a unique “hands-free” option designed to: • harness diversification potential through broad index exposure • allow for personalization through preset options that best meet your return profile • automatically allocate your premium to a predetermined blend of index strategies • automatically rebalance each year to target that blend over time You still have the potential to earn interest credits every year and can help optimize performance through the additional use of longer crediting terms and/ or strategy charges. Strategy Preset is not available in NH.
Athene exclusive
Athene Performance Elite annuities allow you to allocate your money among one or more of the available interest crediting strategies. You can reallocate available funds at the end of each crediting period. Refer to the Product Guide for additional details and available index options. 1 Please see the Indexed Strategy Inserts provided with this brochure for more information. Note that Athene may add or eliminate indexed crediting strategies from time to time. A specific strategy may not be available for the life of your contract. 2 Not available on the Fixed Strategy. The Initial Annual Strategy Charge Rate is set at contract issue and guaranteed for the first Index Term Period. A new Annual Strategy Charge Rate will be declared at the start of each Index Term Period. 3 The Strategy Charge Credit will be applied to the Accumulated Value pro-rata across all funded strategies. If withdrawals subject to a Withdrawal Charge are taken (including a full surrender), the Credit will not be applied.
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Athene’s indexed interest crediting strategies feature the following benefits: • Any interest earned is credited at the end of the crediting period. • Your interest credits are “locked in” once credited,
and cannot be lost due to market downturns. • Interest credits will never be less than 0%.
Protection from market downturns Your money is not directly exposed to the risks of the stock market or individual stocks. We guarantee you will not lose money due to market risk or losses.
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Access your money when you need it most. Annual Free Withdrawals
Athene Performance Elite annuities provide annual penalty-free withdrawal privileges. Athene Performance Elite 7 annuities allow up to a 10% annual free withdrawal beginning in the first Contract Year. Athene Performance Elite 10 and 15 annuities allow up to 5% beginning in the second Contract Year. Each year, you may withdraw up to the maximum free amount of your annuity’s Accumulated Value (as of the most recent Contract Anniversary) without a Withdrawal Charge, Market Value Adjustment (MVA) or any Premium Bonus Vesting Adjustment, if applicable. 1 Required Minimum Distributions (RMDs) are IRS mandatory withdrawals required with qualified contracts (such as an IRA). 2 These withdrawals from your annuity contract are considered part of your free withdrawal, free of Withdrawal Charges, MVA or Premium Bonus Vesting Adjustment for the Contract Year. Confinement Waiver After the first Contract Year, you can withdraw up to 100% of your annuity’s Accumulated Value if you’ve been confined to a Qualified Care Facility for at least 60 consecutive days and meet the eligibility requirements. No Withdrawal Charge or MVA apply if you qualify for this benefit. To receive the Confinement Waiver, the Annuitant cannot be confined at the time your contract is issued and confinement must begin at least one year after the Contract Date. 3 Terminal Illness Waiver You can withdraw up to 100% of your annuity’s Accumulated Value if the Annuitant is diagnosed with a Terminal Illness that is expected to result in death within one year and the Annuitant meets the eligibility requirements. No Withdrawal Charge or MVA apply if you qualify for this benefit. This waiver is available after your first Contract Anniversary and the initial diagnosis of Terminal Illness must be made at least one year after the Contract Date. 3 1 Withdrawals and surrender may be subject to federal and state income tax and, except under certain circumstances, will be subject to an IRS penalty if taken prior to age 59½. Withdrawals are not credited with index interest in the year they are taken. Withdrawals in excess of the free amount are subject to a Withdrawal Charge, MVA and any Premium Bonus Vesting Adjustment which may result in the loss of principal. Withdrawals are based upon the Accumulated Value of the last Contract Anniversary. 2 The IRS requires individuals owning IRAs to take a required minimum distribution (RMD) each year once you reach a certain age, which varies by birthdate. The annual deadline for taking an RMD is December 31. You may delay your first RMD until April 1 of the year after you attain the required beginning age. If you delay your first RMD, you’ll have to take your first and second RMD in the same tax year. If you fail to take your RMD, you may be subject to an excise tax. Please consult with your tax professional for guidelines specific to your situation. Visit IRS.gov for details. 3 This benefit is NOT long-term care insurance nor is it a substitute for such coverage. Not available in all states. Additional limitations, variations and exclusions may apply. Please see the Certificate of Disclosure for more information. Confinement Waiver not available in MA. Confinement and Terminal Illness Waivers not available in CA.
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Athene Performance Elite Plus includes additional liquidity features: Enhanced Free Withdrawals On Performance Elite 10 and 15, the penalty-free withdrawal amount is increased to 10% per year and may be taken as early as the first Contract Year. If no withdrawals are taken in a given year, up to 20% of the Accumulated Value is available for withdrawal in the next year. Return of Premium Benefit After the fourth Contract Year, the Cash Surrender Value will never be less than the premium minus premium taxes (if applicable) and prior withdrawals, including Withdrawal Charges, Premium Bonus Vesting Adjustment and Market Value Adjustment on those withdrawals. Enhanced Annuitization 1 Performance Elite 7 allows Enhanced Annuitization after the fifth Contract Year. Performance Elite 10 allows Enhanced Annuitization after the seventh 2 Contract Year. Performance Elite 15 allows Enhanced Annuitization after the ninth Contract Year. You may elect to surrender your contract and apply the Accumulated Value to one of five settlement options. No Withdrawal Charges, Premium Bonus Vesting Adjustments or Market Value Adjustments will apply upon election of this feature, provided one of the Settlement Options is elected and annuity payments commence. Please refer to the Certificate of Disclosure for specific settlement options. Rider Charge The Liquidity Rider included with Athene Performance Elite Plus has a charge that is deducted from your annuity’s Accumulated Value during the Withdrawal Charge period. A Rider Charge will be assessed when any of the following occur: when you reach the end of a Contract Year; when you take a withdrawal; on the Annuity Date; upon surrender; upon the date of proof of death; or if the rider is terminated. The rider may not be terminated during the Withdrawal Charge period.
1 Not Available in CA or FL for Performance Elite 7 Plus, Performance Elite 10 Plus and Performance Elite 15 Plus. 2 In MD, Performance Elite 10 allows Enhanced Annuitization after the sixth Contract Year.
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Options for annuitization In addition to periodic or free withdrawals, Athene Performance Elite provides you with options for annuitization.
Annuity Payout Options When your annuity matures (on the Annuity Date), Athene Performance Elite gives you options to receive guaranteed lifetime income (called annuitization). The payment amount will be based on your annuity’s Cash Surrender Value and the annuitization option you choose. These options can be based a set period of time, your lifetime or the lifetimes of you and your Joint Annuitant. It’s important to note that once you choose to annuitize, the payment schedule and the amount is fixed and can’t be altered.
Death Benefit The Athene Performance Elite annuities include a Death Benefit. It guarantees that your beneficiary will receive your annuity’s full Accumulated Value, Minimum Guaranteed Contract Value or Return of Premium Benefit (Performance Elite Plus only), whichever is greater. The Death Benefit will be paid as long as you haven’t annuitized your contract. After annuitization, payments will be consistent with the settlement option selected and made payable to your named beneficiary.
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Product Limitations Athene Performance Elite annuities are designed to help meet your long-term savings and retirement needs. They include a Withdrawal Charge period. If you withdraw more money than the free amount allowed by your contract, or if you surrender the annuity before the Withdrawal Charge period ends, a Withdrawal Charge, Market Value Adjustment and Premium Bonus Vesting Adjustment (if applicable) will be applied. These charges do not apply to free withdrawals, RMDs, payments made in settlement of your annuity’s Death Benefit or Confinement and Terminal Illness waivers. 1 For more information, see the Product Guide provided with this brochure.
Withdrawal Charge If you surrender your annuity or withdraw an amount that exceeds the Free Withdrawal amount during the Withdrawal Charge period, you will incur a Withdrawal Charge. In part, Withdrawal Charges allow the company to invest your money on a long-term basis, and generally offer higher rates than possible with a similar annuity of shorter term. For more information, see the Product Guide provided with this brochure. 1 Premium Bonus Vesting Adjustment Withdrawals or surrenders in excess of the Free Withdrawal amount will result in the loss of a portion of the Premium Bonus, if applicable. The Premium Bonus Vesting Adjustment is a percentage of the annuity’s Premium Bonus and any earnings on the Premium Bonus. It will not be applied in the event of the death of the Annuitant or to any Free Withdrawal amount, including those elected under the Confinement or Terminal Illness Waivers, if applicable. 2
Market Value Adjustment (MVA) A Market Value Adjustment applies to withdrawals in excess of the free withdrawal amount and full surrenders during the Withdrawal Charge period. If you take an excess withdrawal before the end of your Withdrawal Charge period, an MVA will be applied to that excess withdrawal. If interest rates in the market are higher than when you purchased your annuity, the MVA is negative, meaning an additional amount is deducted from your contract value. The MVA may increase or decrease the amount of the Withdrawal or Cash Surrender Value of your Contract depending on the change in interest rates. If interest rates have increased, stayed the same or decreased by less than 0.25%, the MVA will be negative. If interest rates have decreased by more than 0.25%, the MVA will be positive. MVA is not applicable in all states. 3
1 Withdrawals and surrender may be subject to federal and state income tax and, except under certain circumstances, will be subject to an IRS penalty if taken prior to age 59½. Withdrawals are not credited with index interest in the year they are taken. Withdrawals in excess of the free amount are subject to a Withdrawal Charge, MVA and any Premium Bonus Vesting Adjustment which may result in the loss of principal if taken while Withdrawal Charges apply. 2 Premium Bonus not available on Performance Elite 7. 3 For more information, please see Certificate of Disclosure or Form 17653, Understanding the MVA.
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Guarantees provided by annuities are subject to the financial strength and claims paying ability of the issuing insurance company. Indexed annuities are not stock market investments and do not directly participate in any stock or equity investments. Market indices may not include dividends paid on the underlying stocks, and therefore may not reflect the total return of the underlying stocks; neither an index nor any market-indexed annuity is comparable to a direct investment in the equity markets. Athene Performance Elite GEN (09/15) NB, GEN10 (04/14), TBS15 (09/12) Athene Performance Elite Plus BONUS (04/17) and Enhanced Liquidity Rider ICC15 PEPR (11/14) or state variations issued by Athene Annuity and Life Company, West Des Moines, IA. Product features, limitations and availability vary; see the Certificates of Disclosure for details. Products not available in all states. This material is a general description intended for informational and educational purposes. Athene Annuity and Life Company (61689), headquartered in West Des Moines, Iowa, and issuing annuities in 49 states (excluding NY) and in D.C., is not undertaking to provide investment advice for any individual or in any individual situation, and therefore nothing in this should be read as investment advice. Please reach out to your financial professional if you have any questions about Athene products or their features. The term “financial professional” is not intended to imply engagement in an advisory business with compensation unrelated to sales. Financial professionals will be paid a commission on the sale of an Athene annuity. This brochure contains highlights only — for a full explanation of these annuities, please refer to the Certificate of Disclosure which provides more detailed product information, including all charges or limitations as well as definitions of capitalized terms. For use in AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV and WY.
1 Financial strength ratings for Athene Annuity & Life Assurance Company, Athene Annuity and Life Company, Athene Annuity & Life Assurance Company of New York and Athene Life Re Ltd. S&P, Fitch, A.M. Best’s and Moody’s credit ratings reflect their assessment of the relative ability of an insurer to meet its ongoing insurance policy and contract obligations. S&P rating as of December 2022 (A+, 5th highest out of 21), Fitch rating as of September 2023 (A+, 5th highest of 19), A.M. Best rating as of May 2023 (A, 3rd highest of 16) and Moody’s rating as of July 2023 (A1, 5th highest of 21). Athene Holding Ltd.’s credit rating is A-/A-/bbb+ for S&P, Fitch and A.M. Best, respectively. 2 Athene Holding Ltd. GAAP total assets, AHL shareholders’ equity and total liabilities as of December 31, 2022. Pledged assets and funds in trust (restricted assets) total $25.4 billion and net reserve liabilities of $184.3 billion as of December 31, 2022. Athene Annuity and Life Company (AAIA), on a statutory basis, based on the financial statement as of December 31, 2022: Total Admitted Assets: $145.6 billion; Total Liabilities: $143.5 billion; Reserves Required: Direct - $99.5 billion; Assumed - $0.36 billion; Ceded - $18.0 billion; Net - $82.0 billion; Capital & Surplus: Common capital stock - $0.01 billion; Paid-in and contributed surplus - $3.09 billion; Unassigned surplus - $(1.03) billion; Total Capital & Surplus: $2.1 billion. Athene Annuity & Life Assurance Company of New York (AANY), on a statutory basis, based on the financial statement as of December 31, 2022: Total Admitted Assets: $4.6 billion; Total Liabilities: $4.3 billion; Reserves Required: Direct - $2.9 billion; Ceded - $2.4 billion; Net - $428 million; Total Capital & Surplus: $284 million; Securities Pledged as Collateral (Cash) $1.99 million. The individual subsidiary insurance company is responsible for meeting its ongoing insurance policy and contract obligations. Apollo Global Management, Inc. is not responsible for meeting the ongoing insurance policy and contract obligations of its subsidiary insurance companies. Neither Athene Annuity and Life Company nor its representatives offer legal or tax advice. Please consult your personal attorney and/or advisor regarding any legal or tax matters.
Retirement is not just the end of a job. It’s the beginning of a life you’ve worked, dreamed and planned for. Whatever excites you about your next move, annuities from Athene can help you take on the challenges you can’t wait to face. An industry leader rated A+ by S&P and Fitch, we’re driven by what drives you: the confidence to retire your way.
Athene Annuity and Life Company 7700 Mills Civic Parkway West Des Moines, IA 50266-3862 Athene.com
68000
(11/07/23)
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