Athene Performance Elite 7 Plus Review (September 2026): Caps, the Bonus and the 0.95% Rider
Written & reviewed by Hans Goldstein, EA, independent licensed insurance producer · CA license 4273294 · NPN 20602398Admitted to practice before the IRS
Rates verified on Athene's product guide effective 09/25/2026 · Updated
Athene Performance Elite 7 is a 7-year accumulation fixed indexed annuity. On Athene's guide effective September 25, 2026, the S&P 500 1-year cap is 9.75% (12.75% if you accept a 1.25% strategy charge) and the fixed strategy pays 4.85% (3.00% in California). The Plus version adds a 6% premium bonus (5% in California and 20 other states) that vests over 7 years, for a 0.95% annual rider charge.
Contract minimums (checked October 4, 2026): guaranteed minimum cap 0.50% on the S&P 500 1-year cap strategies; minimum participation rate 10% on the uncapped index strategies (100% on the S&P 500 cap strategies); maximum spread: not publicly disclosed; bailout: none found in public documents.
Source: Athene allocation form 22642 (Rev. 12/23), which covers Performance Elite 7 and Performance Elite Plus 7 (checked October 4, 2026). These contractual minimums are backed by the claims-paying ability of Athene Annuity and Life Company.
To see how this floor compares with other fixed indexed annuities, read guaranteed minimum caps across FIAs (October 2026).
Also see: Athene Agility 10 Review
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.
Current rates (Athene guide effective September 25, 2026)
| Strategy | No strategy charge | With 1.25% strategy charge |
|---|---|---|
| S&P 500 1-year point-to-point, cap | 9.75% | 12.75% |
| BNP Paribas Multi Asset Diversified 5, participation (1-yr / 2-yr) | 220% / 300% | 270% / 375% |
| AI Powered US Equity (AIPEX), participation (1-yr / 2-yr) | 170% / 225% | 210% / 280% |
| UBS Innovative Balanced, participation (1-yr / 2-yr) | 160% / 215% | 195% / 265% |
| AI Powered Global Opportunities (AIGO), participation (1-yr / 2-yr) | 155% / 210% | 190% / 265% |
| Nasdaq FC, participation (1-yr / 2-yr) | 130% / 200% | 160% / 250% |
| S&P 500 FC (0.50% decrement), participation (1-yr / 2-yr) | 100% / 137% | 123% / 170% |
| 1-Year Fixed Strategy | 4.85% (CA 3.00%) | n/a |
A strategy charge is deducted whether or not the index credits anything. Athene adds a one-time Strategy Charge Credit at the end of the withdrawal charge period if total charges exceeded total interest credits and no charged withdrawals were taken.
Get an independent read on Athene Performance Elite 7 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.
Rather talk it through? Or book 15 minutes on Hans’s calendar.
Base vs Plus
| Feature | Base | Plus |
|---|---|---|
| Annual liquidity rider charge | None | 0.95% of accumulated value during the 7-year charge period |
| Premium bonus | None | 6% most states; 5% in AK, CA, CT, DE, HI, IL, IN, LA, MD, MN, MO, NJ, NV, OH, OK, OR, PA, SC, TX, UT, WA |
| Bonus vesting | n/a | Most states 0% yr 1, 5%, 15%, 25%, 40%, 60%, 80%, 100% yr 8; CA 5% yr 1 to 100% yr 8 |
| Free withdrawals | 10% of accumulated value | 10%, or up to 20% if none taken the prior year |
| Return of premium | No | After year 4, cash surrender value never below premium less prior withdrawals |
Run the math on the Plus: 0.95% a year for 7 years is roughly 6.4% of value, about the size of the bonus it buys. The Plus is worth it only if you value the extra liquidity and the return-of-premium floor.
Contract basics
- Single premium $10,000 minimum, $1,000,000 maximum without approval. Qualified contracts single-owner only.
- Withdrawal charges 9.0, 8.8, 7.9, 6.9, 5.9, 5.0, 4.0% (CA 9.0, 8.0, 6.9, 5.8, 4.7, 3.6, 2.4%), then none. Market value adjustment on excess withdrawals.
- Terminal illness waiver (not CA) and confinement waiver (not CA or MA) after year one.
- Caps and participation rates are guaranteed for the first term only and are reset by Athene each term.
Correction: an earlier version of this page put caps at "5-6% typical." Athene's current guide shows 9.75% (no charge) to 12.75% (with charge) on the S&P 500 1-year cap.
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 MYGA rates · Annuity vs CD · Best 5-year MYGA rates
Frequently asked questions
What are Athene Performance Elite 7 rates right now?
On Athene's guide effective September 25, 2026: S&P 500 1-year point-to-point cap 9.75% with no strategy charge or 12.75% with a 1.25% strategy charge; 1-year fixed 4.85% (3.00% in California); uncapped participation rates up to 300% (2-year BNP Paribas MAD 5, no charge) or 375% with the strategy charge.
What is the difference between Performance Elite 7 and 7 Plus?
Plus adds a liquidity rider for a 0.95% annual charge during the 7-year withdrawal charge period. It brings a premium bonus (6% in most states, 5% in California and 20 other states), enhanced free withdrawals of up to 20% if none were taken the prior year, and a return-of-premium floor after year 4.
Is the Performance Elite 7 Plus bonus real money?
It is credited to accumulated value, but it vests over time. In most states 0% is vested in year 1, rising to 100% in year 8; California vests 5% in year 1 and 100% in year 8. Surrender early and the unvested part is taken back.
What is the Performance Elite 7 surrender schedule?
9.0%, 8.8%, 7.9%, 6.9%, 5.9%, 5.0%, 4.0%, then 0% from year 8. California: 9.0%, 8.0%, 6.9%, 5.8%, 4.7%, 3.6%, 2.4%. A market value adjustment applies to withdrawals above the free amount.
Is Performance Elite 7 better than a MYGA?
Different job. The FIA can credit more than a MYGA in strong index years and 0% in weak ones, and its caps reset yearly. A 5-year MYGA locks one rate for the term: about 5.50%-6.05% from A-rated carriers on October 14, 2026.
Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398). Not affiliated with Athene. Rates are copied from the carrier documents named, with their effective dates; they change often and vary by state and premium. Confirm current rates and read the contract and disclosure before buying. Examples labelled hypothetical are illustrations, not quotes.
Quoted Performance Elite? Get the side-by-side
Talk to Hans Goldstein, a licensed independent insurance producer.
Send the quote. You get the surrender value by year, the real cost of the Plus rider, and a MYGA rate on the same money for comparison.
Send your details. Within one business day you get a written side-by-side sized to your dollar amount, and a free 15-minute call if you want one.
Rather talk it through? Or book 15 minutes on Hans’s calendar, or call 213-414-2808.
Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
We’ll email it to you. Hans replies within one business day. Privacy Policy.
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.