New Product from Athene Annuity Aims to Give Nest Eggs a Boost
March 10, 2012 by Bill Free
| Business Wire, Inc. |
GREENVILLE, S.C.–(BUSINESS WIRE)– A new fixed annuity from Athene Annuity & Life Assurance Companyoffers a simple solution to millions of Americans whose retirement dreams are being challenged by volatile equity markets and a persistently low personal savings rate.
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% in the first year and 3.15% in years 2-7; for five years, the rates are 3.85% in year one and 2.85% in years 2-5.
“We designed ATHENE MaxRate to provide shelter from the storm of uncertainty in today’s financial markets,” said Chris Grady, head of retail for Athene Annuity. “It’s an easy-to-understand fixed annuity for savers who want a tax-deferred vehicle to protect and grow their retirement nest eggs, at guaranteed interest rates that are among the highest in the industry.”
While most traditional fixed deferred annuities allow limited access to money during the surrender charge period, 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.
About Athene Annuity
A subsidiary of Bermuda-based Athene Holding Ltd., Athene Annuity & Life Assurance Company provides income solutions that help Americans prepare for retirement. For over a century, Athene Annuity has earned the trust of its policyholders through financial stability, integrity and service. Its main administrative office is in Greenville, S.C. For more, please visit www.AtheneAnnuity.com.
About Athene Holding Ltd.
Athene Holding Ltd.’s insurance subsidiaries are net investment spread businesses that fund themselves through retail sales of annuities and reinsurance in the U.S. retirement services market, and sales of institutional funding agreements. Athene invests primarily in a diversified portfolio of highly-rated, liquid, fixed income securities. Athene Holding Ltd.’s principal subsidiaries include Athene Life Re Ltd., a Bermuda-based reinsurer focused on the retirement services market; Athene Annuity & Life Assurance Company, a Delaware-domiciled stock life insurance company focused on retail sales and reinsurance; and Athene Life Insurance Company, an Indiana-domiciled stock life insurance company focused on the institutional funding agreement market.
Athene’s management team has many years of experience managing net investment spread businesses within life insurance companies. James R. Belardi, Chief Executive Officer of both Athene Holding Ltd. and Athene Annuity & Life Assurance Company, previously served as President of SunAmerica Life Insurance Company and Executive Vice President and Chief Investment Officer of AIG Retirement Services.
Athene AnnuityBill Free, 864-609-1187
bill.free@atheneannuity.com
Source: Athene Annuity
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