Athene at a Glance: Rates, Products and Reviews

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Ratings and Reviews

Despite its relative youth, Athene holds strong financial strength and credit ratings from all major rating agencies, including a financial strength score of A from AM Best.

This can appeal to customers who may have been turned off from opting for an Athene annuity due to their youth. Although it may not be a legacy provider with a decades-long history, it is generally rated like one.

Athene’s Credit Ratings

Rating Company	Credit Rating
AM Best	A
Fitch	A+
S&P	A+

Athene has a mixed reputation for customer satisfaction. The company has a solid NAIC Complaint Index Score of 0.63, meaning there are fewer customer complaints than expected, given its market presence.

However, Athene ranked poorly in the J.D. Power Overall Customer Satisfaction Index in 2023 and 2024. The provider ranked below the industry average in both years, well behind competitors like Allianz and MassMutual.

“Athene is difficult to get on the phone,” Federal Retirement Advisor Ken Orenstein told Annuity.org. “I just do not like working with [this] carrier. And ironically, this is an extremely popular carrier.”

The NAIC (National Association of Insurance Commissioners) tracks the consumer complaints each state’s insurance commission receives yearly. These are used to compile a company’s NAIC Complaint Index.

Athene is a standout among annuity companies based on the diversity of its products, appealing to investors looking for investment opportunities or immediate income. With a strong A-rating from the rating agencies and the deep financial resources of its parent, Apollo Global, Athene is a compelling choice for investors looking for more asset or income protection.

Stephen Kates, CFP®Principal Financial Analyst for Annuity.org

Stephen Kates, CFP® is a personal finance expert specializing in financial planning and education. He serves as the Principal Financial Analyst for Annuity.org, where he delves into industry trends to support consumers and financial advisors on wealth management, annuities, retirement planning, and investing.

NAIC Complaint Index for Athene

All Policy Types	0.05
Individual Annuities Only	0.63

Products Offered by Athene

One place where Athene stands out from competitors is in the sheer volume of annuity options available. Many providers focus on one or two base annuity types while offering a couple of variations.

Across all categories, Athene offers more than 10 unique products. 

Fixed Index Annuities

Most of Athene’s offerings are fixed index annuities, with six base products and a few variations available.

Athene’s Fixed Index Annuities

Annuity	Its Purpose According to Athene
AccuMax	“Retire with confidence”
Accumulator	“Save more with great rates and lower potential risk”
Agility	“Flexibility and security to reach your retirement dream’
Ascent Pro	“Income that lasts”
Performance Elite	“Make your money work for the long term”
Protector	“Peace of mind for the journey ahead”

AccuMax

Athene does a good job of breaking down its available annuities based on their specific goals and benefits for potential customers. The base version — AccuMax — is available for one, five or seven years.

These annuities generally offer the choice between a fixed or indexed strategy and guarantee that your interest earned never falls below 0%.

The Accumulator

Each product offers unique benefits. The Accumulator, for example, includes a bailout feature, which allows you to access your full accumulated value for 30 days in some situations.

“Another great feature of Athene annuities is the liquidity that they have,” Ryan Cicchelli, owner of The Safe Investing Expert, told Annuity.org. “I think they’re probably one of the highest liquidity annuities in the country.”

The Agility and Ascent Pro

The Agility includes access to an income benefit rider, while the Ascent Pro offers a rider to convert a portion of your contract’s value into a guaranteed income stream. Both are available in terms of seven or 10 years.

Performance Elite

Meanwhile, the longest term available is 15 years and is accessible through the Performance Elite. This annuity allows for automatic diversification across indexes and can be rebalanced each year.

Protector

Athene’s final fixed index annuity is the Protector, a secure product with additional safeguards.

Registered Index-Linked Annuities

Athene offers one base RILA that is available in two different forms.

This product is the Amplify 2.0 and is available in six-year terms. Athene also offers different periods within that term, where your protection level can be reset and you can realize earnings.

Amplify 2.0 Term Periods

• One Year
• Two Years
• Six Years

The Amplify 2.0 includes different buffer level options — capping your earnings in both directions to protect from market downturns — and offers five index options.

Additionally, a no-fee version known as Amplify 2.0 NF is available.

Fixed Annuities

Athene offers access to two different fixed annuities. 

Athene MYG

Its base product is the Athene MYG, which is available for three, five or seven years. It includes standard industry-wide features, such as waivers for nursing home confinement or terminal illness and the ability to withdraw 10% of the contract penalty-free after a year.

Athene MYG is also available with a Return of Premium option that allows you to surrender at any point during the withdrawal charge period and get back all your premiums with no penalty. The tradeoff to this option is lower rates on your annuity.

Another great feature of Athene annuities is the liquidity that they have. I think they’re probably one of the highest liquidity annuities in the country.

Ryan CicchelliOwner of The Safe Investing Expert

Athene MaxRate

Another option to consider is the Athene MaxRate. It’s available for three, five or seven years, has a slightly higher minimum than Athene MYG, and allows you to focus your annuity on growth, income, or both.

Immediate Annuities

On top of its wide range of fixed and indexed options, Athene also offers access to immediate annuities.

Immediate annuities are simple products, but the Athen SPIA offers a solid range of payout options.

This includes guaranteed lifetime payments and several terms in which the annuity pays out for life or for the length of the term.

Also available is a regular term length, ranging from six to 30 years.

Athene Pros & Cons

As with any company, working with Athene has pros and cons. 

Pros

One of the biggest perks of Athene is the volume of available products.

This is a significant departure from many competitors that focus on just a handful of products. Thanks to its many choices, Athene appeals broader range of customers, including everything from fixed index products to MYGAs and immediate annuities.

Athene is also financially stable. It holds an A Financial Strength Rating from AM Best and is backed by Apollo Holdings.

I’ve had many clients benefit from Athene’s strong MYGA rates as well as income product offerings. In 2023, they had some of the highest income available and they continue to be competitive with their A+ rankings and decent income annuities. They are a solid company to consider for any annuity purchase.

Owner and Advisor at Stevenson Retirement Solutions, John Stevenson

Cons

One major con of Athene is its low customer satisfaction track record. Its J.D. Power ranking falling below the industry average over two consecutive years is a concern, and Annuity.org spoke to an expert who said they do not like working with the company.

Athene’s age can also be a concern to some. While it is a financially stable company, there is no way around the fact that it is not even 20 years old.

When considering a multi-decade product, that may be a deciding factor for some.

About Athene

Athene was founded in 2009, and while it is certainly not a legacy company, its relative youth has not stopped it from growing into a giant in the annuity industry.

The company topped $20 billion in direct premiums sold in 2022 and holds strong ratings from every creditor.

It also has significant financial backing from its new parent company after being purchased by Apollo Global for $11 billion in 2021.

Many customers may feel more comfortable opting for one of the many annuity providers who have been in the space for decades, or over a century, due to that extra layer of security.

But Athene breaks the trend that comes with youth by being both a reliable and effective provider.

Provider Rating Methodology

Annuity.org created a fact-based methodology to analyze the strength, security and reach of different annuity providers. We assessed companies based on their availability, the amount of direct premiums sold, their AM Best Financial Strength Rating and their NAIC Complaint Index score.

Providers received a rating on a five-star scale for each of these categories, with the complaint index and financial strength ratings weighed as the heaviest variables. Then, using a weighted average, each company was assigned an overall star rating.

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Our Rating Panel

The Annuity.org editorial team spoke with several different annuity experts to learn more about what is important to customers when searching for a provider and what factors make a company reliable. While Annuity.org designed the methodology, these experts provided feedback during the process and consulted on what factors we should leverage to best help prospective buyers compare providers.