Goldstein Scorecard: C+ (dated October 4, 2026). See how it is graded.
Athene Performance Elite 10 Review: 22% Bonus, 5.50% Cap and a 6-Year Vesting Wait
Written & reviewed by Hans Goldstein, EA, Independent Licensed Insurance Producer · CA license 4273294 · NPN 20602398Admitted to practice before the IRS
Facts verified against Athene's Performance Elite 10 product guide (form 68069, rates effective 09/25/26), brochure and current rates page on October 4, 2026 · Updated
Athene Performance Elite 10 is a 10-year fixed indexed annuity for accumulation from Athene Annuity and Life Company with a large premium bonus. Per Athene's product guide (rates effective September 25, 2026), the Base version pays a 22% bonus at ages 0 to 70 in most states (17% to 20% elsewhere), with a 5.50% S&P 500 cap and 2.90% fixed rate without fees. In most states the bonus is 0% vested through year 6, and the withdrawal charge starts at 12%.
Correction (October 4, 2026): earlier versions of this page said Performance Elite 10 had no premium bonus, showed estimated June caps of 8.5% to 10.0%, and a surrender schedule starting at 9.2%. Athene's product guide shows a 17% to 25% premium bonus depending on state, age and version, a 5.50% no-fee cap, and a schedule starting at 12% in most states. Estimates, competitor ranges and unverified scores have been removed.
CD vs MYGA, after tax
What $100,000 earns in 5 years: CD vs MYGA, after tax
Rates used: CD 5.00%, the top nationally available 5-year CD (Bankrate, October 14, 2026); change it to the rate you are offered. MYGA 5.95%, the best A-rated rate we track as of October 13, 2026: Delaware Life Pinnacle Plus 5-year (AM Best A-, negative outlook, 7/31/2026), $100,000 and up, effective October 6, 2026 (Delaware Life rate sheet).
| CD, interest taxed every year | $121,081 |
|---|---|
| MYGA, tax-deferred, before tax | $133,507 |
| MYGA after paying tax on all the interest at withdrawal | $126,136 |
| Tax deferral alone adds about | $674 |
| MYGA ahead of the CD, after tax | $5,055 |
Assumes 22% federal and 0% state income tax, no withdrawals, rates held for the whole term. MYGA interest is taxed as ordinary income when you withdraw it, not as capital gains. Gains taken before age 59 1/2 can owe a 10% IRS penalty, and cashing out early can cost a surrender charge. In an IRA both grow tax-deferred, so the edge there is the rate alone. Bank and credit union deposits are FDIC or NCUA insured up to the limits; a MYGA is backed by the issuing insurer's claims-paying ability and your state's guaranty association up to its limits, not the FDIC. General education, not tax, legal or financial advice.
Performance Elite 10 current rates (effective September 25, 2026)
| Strategy | No strategy charge | With 1.25% strategy charge |
|---|---|---|
| S&P 500 1-year point-to-point, cap | 5.50% | 8.00% |
| Fixed Strategy | 2.90% (CA 2.90%) | n/a |
| BNP Paribas Multi Asset Diversified 5, 1-yr / 2-yr participation | 130% / 180% | 185% / 255% |
| AI Powered US Equity (AIPEX), 1-yr / 2-yr | 107% / 140% | 150% / 195% |
| AI Powered Global Opportunities (AIGO), 1-yr / 2-yr | 95% / 125% | 135% / 180% |
| UBS Innovative Balanced, 1-yr / 2-yr | 95% / 125% | 135% / 180% |
| Nasdaq FC, 1-yr / 2-yr | 77% / 120% | 110% / 170% |
| S&P 500 FC (0.50% decrement), 1-yr / 2-yr | 60% / 80% | 85% / 115% |
Contract basics (verified)
| Feature | Performance Elite 10 |
|---|---|
| Premium | Single premium. Minimum $10,000 ($5,000 in AK, CT, DE, ID, LA, MN, NJ, NV, OH, OK, OR, PA, UT, WA); maximum $1,000,000 without company approval |
| Issue ages | 0 to 78 |
| Premium bonus, most states (AL, AZ, AR, CO, DC, FL ages 0 to 64, GA, HI, IL, IA, IN, KS, KY, MA, ME, MI, MO, MS, MT, NE, NH, NM, NC, ND, RI, SD, TN, VT, VA, WV, WI, WY) | Base 22% / 20% / 18% at ages 0 to 70 / 71 to 75 / 76 to 78. Plus 25% / 23% / 21% |
| Premium bonus, AK, CT, DE, ID, LA, MN, NJ, NV, OH, OK, OR, PA, SC, TX, UT, WA | Base 20% / 18% / 16%. Plus 23% / 21% / 19% |
| Premium bonus, CA | Base 17% / 16% / 14%. Plus 20% / 19% / 17% |
| Premium bonus, FL (ages 65 to 78) and MD | Base 20% / 18% / 16%. Plus 23% / 21% / 19% |
| Withdrawal charge, Chart A (most states) | 12%, 12%, 12%, 11%, 10%, 9%, 8%, 7%, 6%, 4% in years 1 to 10; 0% from year 11 |
| Withdrawal charge, Chart B (AK, CT, DE, ID, LA, MN, NJ, NV, OH, OK, OR, PA, SC, TX, UT, WA) | 8.3%, 8.0%, 7.1%, 6.2%, 5.3%, 4.4%, 3.5%, 2.6%, 1.6%, 0.9%; 0% from year 11 |
| Withdrawal charge, Chart C (FL ages 65 to 78, MD) | 10%, 10%, 10%, 10%, 9%, 8%, 7%, 6%, 5%, 4%; 0% from year 11 |
| Withdrawal charge, Chart D (CA) | 8.2%, 7.7%, 6.6%, 5.6%, 4.5%, 3.4%, 2.3%, 1.2%, 0.1%; 0% from year 10 |
| Bonus vesting, Charts A and C | 0% in years 1 to 6, then 20%, 40%, 60%, 80% in years 7 to 10; 100% from year 11 |
| Bonus vesting, Chart B | 0% in year 1, then 10% a year to 90% in year 10; 100% from year 11 |
| Bonus vesting, Chart D (CA) | 10% in year 1 rising 10% a year to 100% in year 10 |
| Market value adjustment (MVA) | Yes, on amounts above the free withdrawal during the withdrawal charge period (not in MD or MO) |
| Free withdrawals, Base | 0% in year 1; 5% of Accumulated Value a year from year 2 |
| Waivers | Terminal illness and 60-day confinement waivers after year 1 (not in CA; confinement not in MA). Not long-term care insurance |
| Plus version: Liquidity Rider | 0.95% a year of Accumulated Value for the 10-year withdrawal charge period; cannot be dropped during that period |
| Plus: enhanced free withdrawals | 10% from year 1; up to 20% the next year if none taken |
| Plus: return of premium | After the 4th contract year, Cash Surrender Value is never less than premium less prior withdrawals (and charges on them) |
| Plus: enhanced annuitization | Annuitize without withdrawal charges, vesting or MVA after the 7th contract year (6th in MD; not in CA or FL) |
| Strategy charge option | 1.25% a year of the strategy value for higher caps and participation rates; a one-time Strategy Charge Credit at the end of the withdrawal charge period if total charges exceeded total interest credited (lost if charged withdrawals are taken) |
| Strategy Preset | Optional automatic annual rebalancing across indices (not in NH) |
| Death benefit | Greatest of Accumulated Value (no surrender charges), Minimum Guaranteed Contract Value, or Return of Premium Benefit if applicable |
| Income rider | None. Performance Elite is an accumulation product; the Plus rider is a liquidity rider, not an income rider |
| Availability | Not in New York. Athene lists Performance Elite for its independent agent (IMO) channel |
Performance Elite 7 vs 10 vs 15 (same rate date)
| Feature | PE 7 | PE 10 | PE 15 |
|---|---|---|---|
| Withdrawal charge period | 7 years, 9% in year 1 | 10 years, 12% in year 1 (most states) | 15 years, 15% in year 1 |
| Premium bonus, Base | None | 22% (ages 0 to 70, most states) | 25% (ages 0 to 70) |
| Premium bonus, Plus | 6% (5% in listed states) | 25% (ages 0 to 70, most states) | 28% (ages 0 to 70) |
| Bonus 100% vested | Year 8 (Plus) | Year 11 (most states) | Year 16 |
| S&P 500 cap, no fee / with 1.25% fee | 9.75% / 12.75% | 5.50% / 8.00% | 7.00% / 9.50% |
| Fixed rate | 4.85% (CA 3.00%) | 2.90% | 3.70% |
| Free withdrawal, Base | 10% a year | 0% in year 1, then 5% | 0% in year 1, then 5% |
| Issue ages | 0 to 83 | 0 to 78 | 0 to 73, 0 to 64 or 0 to 50 by state |
| Full review | Performance Elite 7 | Performance Elite 10 | Performance Elite 15 |
Hypothetical: what the bonus is worth if you leave early
Hypothetical, for illustration only, not an Athene illustration. $100,000 in the Base version at age 65 in a Chart A state: the Accumulated Value starts at $122,000. If the contract is surrendered in year 5, the bonus is 0% vested, so the $22,000 bonus is taken back, and a 10% withdrawal charge plus any MVA apply above the 5% free amount. The Certificate of Disclosure sets the exact order of those adjustments. Kept past year 10, the full bonus is yours.
Is the annuity you're looking at actually the best one available?
Send your email and I'll send what it really guarantees, what the surrender schedule costs you, and the two or three carriers paying more for the same guarantee. If it's already a good fit, I'll tell you that.
We’ll email it to you. Hans reads every one himself and replies within one business day. Hans Goldstein · NPN 20602398.
Rather talk it through? Or book 15 minutes on Hans’s calendar.
Goldstein Scorecard (dated October 4, 2026)
| Dimension | Grade | Basis (sourced fact) |
|---|---|---|
| Financial strength | A | AM Best A+, S&P A+ and Fitch A+ (as of August 2025) and Moody's A1 (as of July 2025) for Athene's operating subsidiaries, per Athene's investor relations site (checked October 4, 2026) and Athene product brochures dated 04/22/26. |
| Rate or cap competitiveness | C | 5.50% S&P 500 cap and 2.90% fixed with no fees (September 25, 2026), the lowest of the three Performance Elite terms; the 17% to 25% bonus is the offset. 5-year MYGAs paid about 5.50% to 6.05% (October 14, 2026). |
| Guaranteed floor | D | 0.50% minimum cap and 10% minimum participation are public (Athene allocation form 22642 (Rev. 12/23), checked October 4, 2026); the Minimum Guaranteed Contract Value rate is in the Certificate of Disclosure and not publicly disclosed. |
| Liquidity | D | 10-year withdrawal charge from 12% in most states, MVA, bonus 0% vested through year 6 in Chart A and C states, Base free withdrawals 0% in year 1 and 5% after. |
| Costs | B | Base version with no strategy charge has no rider or strategy fees. The 1.25% strategy charge and 0.95% Plus rider are optional. |
| Transparency | A- | Rates, bonuses, withdrawal charges and vesting schedules by state are published and dated on Athene's site. |
| Guaranteed minimum cap | 0.50% | S&P 500 1-year cap strategies, with or without the strategy charge, Athene allocation form 22642 (Rev. 12/23), which covers Performance Elite 10 (checked October 4, 2026). |
| Minimum participation rate | 10% | Uncapped index strategies (100% on the S&P 500 cap strategies), Athene allocation form 22642 (Rev. 12/23). |
| Overall | C+ | Strong carrier and a large bonus, but low no-fee rates and a long wait before the bonus vests in most states. |
Get the current numbers for your amountor call 213-414-2808
Pros and cons
| Pros | Cons |
|---|---|
| Base bonus of 22% (ages 0 to 70, most states) with no rider charge. | Bonus is 0% vested through year 6 in most states. |
| No fees on the Base version without the strategy charge. | No-fee cap of 5.50% and 2.90% fixed are the lowest of the three terms. |
| California and Chart B states have gentler withdrawal charges and faster vesting. | Chart A withdrawal charge is 12% in years 1 to 3. |
| MVA does not apply in MD and MO. | Base free withdrawals are 0% in year 1 and 5% after. |
| Plus version adds a return of premium floor after year 4. | Plus costs 0.95% a year for all 10 years. |
Who it's for, and when to look elsewhere
Fits: a buyer who will not touch the money for at least 10 years, wants index-linked growth with no income rider, and values a large bonus that vests late over a higher cap.
Look elsewhere if:
- You may need more than 5% a year before year 10. The withdrawal charge and unvested bonus both come off.
- You want the shortest lock. Performance Elite 7 ends charges after year 7 with higher no-fee rates and no Base bonus.
- You want lifetime income from a rider. Performance Elite has none; see Agility 10.
- You mainly want a known rate. A MYGA locks a declared rate for the term, backed by the claims-paying ability of the issuing insurer. For comparison, A-rated-or-better insurers were paying about 5.50% to 6.05% on 5-year MYGAs and the best nationally available 5-year CDs about 4.35% to 4.50% APY (MYGAs: public carrier rate sheets, October 14, 2026; CDs: DepositAccounts, September 24, 2026). Current rates: MYGA rates.
Run the numbers: annuity surrender charge calculator and annuity calculator. Other terms: Performance Elite 7 and Performance Elite 15. Related: Athene Agility 10, Athene product hub, are annuity premium bonuses good or bad? and how annuity crediting works.
Questions to ask your agent
- What are the minimum cap, minimum participation rates and Minimum Guaranteed Contract Value in my Certificate of Disclosure? Please give them to me in writing.
- Which state chart applies to me: show the full 10-year withdrawal charge schedule, the premium bonus vesting schedule by year, how the MVA works, and my free withdrawal amount.
- Am I being shown the Base or the Plus version, and with or without the 1.25% strategy charge? Show both side by side.
- What does the guaranteed column of the illustration show at the end of the withdrawal charge period?
- How are you paid on this product? Commission comes from Athene and is built into the product's pricing, not deducted from my premium. What percentage is it, and does a longer surrender term pay you more? (Background: how annuity commissions work.)
From my desk
On a Performance Elite 10 illustration I look first at the state chart, because it changes everything: the same product starts at 12% in Arizona, 8.3% in Texas and 8.2% in California, and the bonus vests very differently. Then I check Base vs Plus and whether the 1.25% strategy charge is selected.
The number buyers misread most on this product is the bonus. The 22% shows up in the Accumulated Value on day one, but in most states none of it is yours on surrender until year 7. It is real if you hold to year 11, and largely gone if you leave early.
Against a MYGA, I compare the guaranteed column at year 10 with a 10-year MYGA at its declared rate. Bonus FIAs often look better on the illustrated column and worse on the guaranteed one, and the guaranteed column is the one backed by the contract.
Hans Goldstein, independent licensed insurance producer, CA license 4273294, NPN 20602398. No carrier paid for this review.
Frequently asked questions
What are the Athene Performance Elite 10 rates?
Per Athene's product guide (rates effective September 25, 2026, matching its rates page on October 3, 2026): 5.50% S&P 500 1-year cap and 2.90% fixed with no strategy charge, or an 8.00% cap with the optional 1.25% strategy charge.
How big is the Performance Elite 10 premium bonus?
On the Base version, 22% at issue ages 0 to 70 in most states (20% at 71 to 75, 18% at 76 to 78), 20% in a second group of states including TX, PA, NJ and OH, and 17% in California. The Plus version adds 3 points (25% in most states) for a 0.95% annual Liquidity Rider charge.
When does the Performance Elite 10 bonus vest?
In most states and in FL (ages 65 to 78) and MD: 0% in years 1 to 6, then 20%, 40%, 60% and 80% in years 7 to 10, and 100% from year 11. In the second state group it vests 10% a year from year 2. In California it vests 10% a year from year 1.
What are the Performance Elite 10 withdrawal charges?
In most states: 12%, 12%, 12%, 11%, 10%, 9%, 8%, 7%, 6% and 4% in years 1 to 10, then 0%. The second state group starts at 8.3%, FL (ages 65 to 78) and MD start at 10%, and California starts at 8.2%. An MVA applies except in MD and MO.
How much can I withdraw free from Performance Elite 10?
On the Base version, nothing in year 1 and 5% of Accumulated Value a year from year 2. The Plus version allows 10% from year 1, and up to 20% the next year if no withdrawal was taken.
What is Athene's financial strength rating?
Athene's investor relations site lists AM Best A+ (August 2025), S&P A+ (August 2025), Fitch A+ (August 2025) and Moody's A1 (July 2025). Contract guarantees depend on the claims-paying ability of Athene Annuity and Life Company.
Sources (checked October 4, 2026)
- Athene, Athene's Performance Elite page, with Performance Elite 10 Product Guide form 68069 (rates effective September 25, 2026) and Performance Elite brochure form 68000 (04/22/26).
- Athene, Performance Elite 7, 10 and 15 product guides, forms 68070, 68069 and 68071 (09/25/26), for the term comparison.
- Athene, Athene's current rates page, as of October 3, 2026 (checked October 4, 2026): Performance Elite crediting rates, premium bonuses, rider charge and sales channel.
- Athene, investor relations site, ratings: AM Best A+, S&P A+, Fitch A+ (August 2025), Moody's A1 (July 2025), checked October 4, 2026.
- MYGA and CD benchmark: public carrier rate sheets (MYGAs, October 14, 2026) and DepositAccounts (CDs, September 24, 2026).
- Industry data: FIA guaranteed minimum caps across 99 products (contractual minimums from insurers' public documents, October 4, 2026)
Get an independent quote on this product
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Hans will pull side-by-side quotes from comparable alternatives, walk you through the surrender schedule and MVA in plain English, and answer the renewal-rate-integrity question for the carrier you're considering.
Send your details. Within one business day, you'll get a written independent comparison, two competing quotes at the same term, and a 15-minute call if you want one.
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Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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Disclosure
This review is based on the carrier's public product materials and rates as of the date shown above. Annuity rates, caps, participation rates, payout factors, and crediting methods change often, sometimes monthly. Confirm current figures in the latest carrier disclosure and the contract before you buy. This is general education, not a personal recommendation or an offer of any product. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) appointed with multiple A-rated carriers; the producer's specific appointment status with the carrier discussed in this review may vary, and this review is not an endorsement or representation of carrier appointment. No carrier paid for this review. Always read the actual contract and consult a licensed advisor before purchasing any annuity. Past index performance does not predict future credited interest. Annuities are long-term contracts with surrender charges; they are not suitable for funds you may need before the end of the surrender period. AM Best ratings and tax treatment are subject to change.