Goldstein Scorecard: C (dated October 4, 2026). See how it is graded.
Athene Performance Elite 15 Plus Review: 28% Bonus, 15-Year Charge, Vesting From Year 12
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 15 product guide (form 68071, rates effective 09/25/26), brochure and current rates page on October 4, 2026 · Updated
Athene Performance Elite 15 Plus is the Plus version of Athene's 15-year accumulation fixed indexed annuity, issued by Athene Annuity and Life Company. Per Athene's product guide (rates effective September 25, 2026), it pays a 28% premium bonus at ages 0 to 70 for a 0.95% annual Liquidity Rider charge, with a 7.00% S&P 500 cap or 3.70% fixed without strategy fees.
The withdrawal charge starts at 15% and the bonus is 0% vested through year 11.
Correction (October 4, 2026): earlier versions of this page listed Athene at AM Best "A", described an 8% to 10% bonus fully vested at year 15, an income rider of about 1.00%, and composite client stories.
Athene's documents show AM Best A+ (as of August 2025), a 28% Plus bonus (ages 0 to 70) that is 0% vested through year 11 and 100% from year 16, and a 0.95% liquidity rider, not an income rider. The stories, star rating, COMDEX, renewal-tier, customer service and competitor claims 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 15 current rates (effective September 25, 2026)
| Strategy | No strategy charge | With 1.25% strategy charge |
|---|---|---|
| S&P 500 1-year point-to-point, cap | 7.00% | 9.50% |
| Fixed Strategy | 3.70% | n/a |
| BNP Paribas Multi Asset Diversified 5, 1-yr / 2-yr participation | 165% / 225% | 215% / 300% |
| AI Powered US Equity (AIPEX), 1-yr / 2-yr | 130% / 175% | 170% / 230% |
| AI Powered Global Opportunities (AIGO), 1-yr / 2-yr | 120% / 160% | 155% / 210% |
| UBS Innovative Balanced, 1-yr / 2-yr | 120% / 160% | 155% / 210% |
| Nasdaq FC, 1-yr / 2-yr | 97% / 150% | 127% / 200% |
| S&P 500 FC (0.50% decrement), 1-yr / 2-yr | 75% / 100% | 97% / 135% |
Contract basics (verified)
| Feature | Performance Elite 15 (Base and Plus) |
|---|---|
| Premium | Single premium. Minimum $10,000; maximum $1,000,000 without company approval |
| Issue ages | 0 to 73, 0 to 64 or 0 to 50 depending on state, per Athene's state map (not available in New York). Ask which applies in your state |
| Premium bonus | Base 25% (ages 0 to 70) or 20% (71 to 73). Plus 28% or 23%. Oldest owner or annuitant sets the age |
| Withdrawal charge | 15%, 15%, 14%, 14%, 13%, 13%, 12%, 11%, 10%, 9%, 8%, 7%, 6%, 5%, 4% in years 1 to 15; 0% from year 16 |
| Bonus vesting | 0% in years 1 to 11, then 20%, 40%, 60%, 80% in years 12 to 15; 100% from year 16 |
| 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 (confinement not in MA). Not long-term care insurance |
| Plus version: Liquidity Rider | 0.95% a year of Accumulated Value for the 15-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 9th contract year (not in 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: Base vs Plus on $100,000
Hypothetical, for illustration only, not an Athene illustration. Age 65, $100,000. Base: Accumulated Value starts at $125,000. Plus: $128,000, and the 0.95% Liquidity Rider charge comes off the Accumulated Value every year for 15 years, about $1,216 in year 1 on $128,000 before any interest.
In both versions the bonus is 0% vested through year 11, so on surrender before year 12 none of it is kept; the Plus return of premium floor after year 4 is what limits the loss to premium less withdrawals.
Get an independent read on Athene Performance Elite 15 Plus before you sign.
Send your email and I'll send you what this product actually guarantees, what the surrender schedule really 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.
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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+ | 7.00% S&P 500 cap and 3.70% fixed with no strategy fees (September 25, 2026), plus a 25% to 28% bonus that vests late. 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. The Plus return of premium floor after year 4 is public. |
| Liquidity | D- | 15-year withdrawal charge from 15%, MVA, bonus 0% vested through year 11. Plus improves free withdrawals to 10% from year 1. |
| Costs | C | Plus: 0.95% of Accumulated Value a year for 15 years. Optional 1.25% strategy charge on top. |
| Transparency | A- | Rates, bonuses, withdrawal charges and vesting 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 15 (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 the largest Performance Elite bonus, bought with the longest lock and the slowest vesting. |
Get the current numbers for your amountor call 213-414-2808
Pros and cons
| Pros | Cons |
|---|---|
| 28% Plus bonus (ages 0 to 70), the largest in the Performance Elite line on September 25, 2026. | Bonus is 0% vested through year 11 and fully vested only from year 16. |
| Plus return of premium floor after year 4. | 0.95% rider charge every year for 15 years. |
| Plus allows 10% free withdrawals from year 1. | Withdrawal charge of 15% in years 1 and 2, plus an MVA. |
| No MVA in MD and MO. | Maximum issue age is 73, lower in some states. |
| Penalty-free annuitization after year 9 on Plus (not in FL). | No income rider, if lifetime withdrawals are the goal. |
Who it's for, and when to look elsewhere
Fits: a younger buyer (issue age 73 or under) with money that truly will not be needed for 15 years, who wants index-linked growth with a large bonus and, on Plus, a return of premium floor.
Look elsewhere if:
- There is any real chance you need the money before year 12. The bonus is unvested and the charge is still 8% or more.
- You want a shorter lock: Performance Elite 10 (17% to 25% bonus) or Performance Elite 7 (no Base bonus, higher no-fee rates).
- You want lifetime income from a rider; 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 4.70% to 5.00% APY (MYGAs: public carrier rate sheets, October 14, 2026; CDs: Bankrate and Popular Direct, October 18, 2026). Current rates: MYGA rates.
Run the numbers: annuity surrender charge calculator and annuity calculator. Other terms: Performance Elite 7 and Performance Elite 10. 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 15-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 15 Plus illustration I check the age first, because the bonus drops from 28% to 23% after 70 and the product is not issued past 73 (lower in some states). Then I put the surrender value at years 5 and 10 next to the premium, because that is where a 15-year product either earns its place or does not.
The number buyers misread most here is the 28%. It is credited on day one, but the vesting schedule keeps all of it at risk until year 12, and the 0.95% Plus charge is taken every year on the larger Accumulated Value.
Against a MYGA, I compare the guaranteed column at the end of the term with a MYGA, or a ladder of MYGAs, at declared rates. A 15-year commitment needs a clear reason that a series of shorter guaranteed terms cannot meet.
Hans Goldstein, independent licensed insurance producer, CA license 4273294, NPN 20602398. No carrier paid for this review.
Frequently asked questions
What is the Athene Performance Elite 15 Plus premium bonus?
Per Athene's product guide (rates effective September 25, 2026), the Plus version pays a 28% premium bonus at issue ages 0 to 70 and 23% at 71 to 73. The Base version pays 25% and 20%. The bonus is based on the oldest owner or annuitant.
When does the Performance Elite 15 bonus vest?
0% in contract years 1 to 11, then 20%, 40%, 60% and 80% in years 12 to 15, and 100% from year 16. Before then, the unvested part is taken back on surrender or on withdrawals above the free amount.
What does the Plus version cost and what does it add?
A Liquidity Rider charge of 0.95% of Accumulated Value a year for the 15-year withdrawal charge period. It adds 3 points of bonus, 10% free withdrawals from year 1 (up to 20% if none were taken the prior year), a return of premium floor after year 4, and penalty-free annuitization after year 9 (not in FL).
What are the Performance Elite 15 withdrawal charges?
15%, 15%, 14%, 14%, 13%, 13%, 12%, 11%, 10%, 9%, 8%, 7%, 6%, 5% and 4% in years 1 to 15, then 0%. An MVA applies to amounts above the free withdrawal, except in MD and MO.
What are the Performance Elite 15 rates?
Per the September 25, 2026 product guide, matching Athene's rates page on October 3, 2026: 7.00% S&P 500 1-year cap and 3.70% fixed with no strategy charge, or a 9.50% cap with the optional 1.25% strategy charge. Same rates on Base and Plus.
Does Performance Elite 15 Plus have an income rider?
No. The Plus rider is a liquidity rider. Performance Elite is an accumulation annuity; Athene's income products are separate (for example Agility and Ascent Pro).
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 15 Product Guide form 68071 (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 a second opinion before you sign
Talk to a licensed annuity expert. Hans.
You just read 3,000+ words on this product. You know more about the Athene Performance Elite 15 Plus (MVA, ROP, FEE) than most agents selling it. The last question worth answering: is it actually right for you?
Send your details. I'll personally pull your exact illustration through carrier software, compare it against the 2 closest alternatives, and send you a 1-page written verdict within one business day. No charge. No pitch. If Performance Elite 15 Plus fits you, I'll tell you. If it doesn't, I'll say so.
Rather talk it through? Or book 15 minutes on Hans’s calendar, or call 213-414-2808.
Hans Goldstein · 213-414-2808 · Or schedule a 15-min call · Independent licensed insurance producer, NPN 20602398
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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, crediting methods, and long-term care benefit structures 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 (CA license 4273294, NPN 20602398) appointed with several A-rated carriers. His appointment with the carrier reviewed here may vary, and this review is not an endorsement. No carrier paid for this review. Always read the actual contract and consult a licensed advisor before purchasing any annuity or long-term care insurance product. Past index performance does not predict future credited interest. Annuities and hybrid life+LTC policies 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. Tax discussion of IRC §7702B, §1035, and the Pension Protection Act of 2006 reflects law as of 2026 and is subject to change.