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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