Athene Annuity & Life Assurance Launches New Fixed Annuity
A new fixed annuity from
ATHENE MaxRate is a multi-year guarantee annuity with a choice of five or seven-year guarantee periods. It is designed for individuals who are comfortable locking-in money in exchange for the opportunity to earn a higher rate of return, based on their personal savings goals. Seven-year guaranteed rates are currently 4.15 percent in the first year and 3.15 percent in years 2-7; for five years, the rates are 3.85 percent in year one and 2.85 percent in years 2-5, the Company noted in a release.
"We designed ATHENE MaxRate to provide shelter from the storm of uncertainty in today's financial markets," said
While most traditional fixed deferred annuities allow limited access to money during the surrender charge period, the Company noted, ATHENE MaxRate focuses on accumulation and total return. It provides a 30-day window at the end of each guarantee period during which contract holders can request a partial withdrawal, surrender their annuity, or convert it into a guaranteed stream of income without incurring a market value adjustment or any withdrawal charges. If no action is taken during the 30-day window, the annuity will automatically begin a new guarantee period of the same duration with a new guaranteed interest rate.
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