Access to your money when you need it most
Free Withdrawals 1
Confinement Waiver 3 Not applicable in CA & MA
Athene MaxRate annuities provide annual Free Withdrawal privileges beginning in the first Contract Year. Each Contract Year, you can withdraw up to an amount equal to the Multi-Year Fixed Strategy Rate multiplied by Accumulated Value (as of the most recent Contract Anniversary) without incurring a Withdrawal Charge or Market Value Adjustment. Required minimum distributions (RMDs) 2 are IRS mandatory withdrawals from tax-qualified contracts such as IRAs. With Athene MaxRate annuities, RMDs are considered part of your annual Free Withdrawal, even if they exceed your Free Withdrawal amount. Your Free Withdrawal amount is equal to the greater of the Free Withdrawal amount or your RMD. If you take Free Withdrawals and then your RMD, it may be subject to Withdrawal Charges and MVA.
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. You cannot be confined at the time the contract is issued and confinement must begin at least one year after the Contract Date. No Withdrawal Charge or MVA will apply if you qualify for this benefit.
Terminal Illness Waiver 3 Not applicable in CA You can withdraw up to 100% of your annuity’s
Accumulated Value if you’re diagnosed with a Terminal Illness that is expected to result in death within one year and you meet the eligibility requirements. This waiver is available after your first Contract Anniversary. You may not be diagnosed during the first Contract Year. No Withdrawal Charge or MVA will apply if you qualify for this benefit.
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 in excess of the free amount are subject to a Withdrawal Charge and Market Value Adjustment (MVA), which may result in the loss of principal. 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. Waivers may not be available in all states. Additional limitations, variations and exclusions may apply. Please see the Certificate of Disclosure for more information.
Made with FlippingBook - Share PDF online