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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