Goldstein Scorecard: B (dated October 4, 2026). See how it is graded.
Athene Performance Elite 7 Review: 9.75% Cap, 4.85% Fixed, 7-Year Charge
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 7 product guide (form 68070, rates effective 09/25/26), brochure and current rates page on October 4, 2026 · Updated
Athene Performance Elite 7 is a 7-year fixed indexed annuity for accumulation from Athene Annuity and Life Company. Per Athene's product guide (rates effective September 25, 2026), it credits up to a 9.75% S&P 500 cap or 4.85% fixed (3.00% in California) with no fees, or a 12.75% cap with an optional 1.25% strategy charge. The withdrawal charge starts at 9% and ends after year 7. The Plus version adds a 5% or 6% bonus for 0.95% a year.
Correction (October 4, 2026): earlier versions of this page showed estimated June caps, a surrender schedule of 9%, 8.4%, 7.5% and so on, and said there was no premium bonus. Athene's product guide shows 9.0%, 8.8%, 7.9%, 6.9%, 5.9%, 5.0% and 4.0%, and a 5% or 6% bonus on the Plus version. Estimates, competitor ranges and unverified scores have been removed.
CD vs MYGA, after tax
What $100,000 earns in 7 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 6.00%, the best A-rated rate we track as of October 13, 2026: Aspida WealthLock 7-year (AM Best A-, reaffirmed 9/18/2026), $100,000 and up, effective October 1, 2026 (Aspida rate sheet; not sold in New York).
| CD, interest taxed every year | $130,710 |
|---|---|
| MYGA, tax-deferred, before tax | $150,363 |
| MYGA after paying tax on all the interest at withdrawal | $139,283 |
| Tax deferral alone adds about | $1,548 |
| MYGA ahead of the CD, after tax | $8,573 |
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 7 current rates (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% |
| Fixed Strategy | 4.85% (CA 3.00%) | n/a |
| BNP Paribas Multi Asset Diversified 5, 1-yr / 2-yr participation | 220% / 300% | 270% / 375% |
| AI Powered US Equity (AIPEX), 1-yr / 2-yr | 170% / 225% | 210% / 280% |
| AI Powered Global Opportunities (AIGO), 1-yr / 2-yr | 155% / 210% | 190% / 265% |
| UBS Innovative Balanced, 1-yr / 2-yr | 160% / 215% | 195% / 265% |
| Nasdaq FC, 1-yr / 2-yr | 130% / 200% | 160% / 250% |
| S&P 500 FC (0.50% decrement), 1-yr / 2-yr | 100% / 137% | 123% / 170% |
Contract basics (verified)
| Feature | Performance Elite 7 |
|---|---|
| Premium | Single premium. Minimum $10,000; maximum $1,000,000 without company approval |
| Issue ages | 0 to 83 (owner and annuitant) |
| Withdrawal charge | 9.0%, 8.8%, 7.9%, 6.9%, 5.9%, 5.0%, 4.0% in years 1 to 7; 0% from year 8 |
| Withdrawal charge, California | 9.0%, 8.0%, 6.9%, 5.8%, 4.7%, 3.6%, 2.4%; 0% from year 8 |
| Market value adjustment (MVA) | Yes, on amounts above the free withdrawal during the withdrawal charge period |
| Free withdrawals | 10% of Accumulated Value (as of the prior anniversary) each year |
| Premium bonus | Base: none. Plus: 6% in 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 |
| Plus bonus vesting, most states | 0%, 5%, 15%, 25%, 40%, 60%, 80% in years 1 to 7; 100% from year 8 |
| Plus bonus vesting, AK, CT, DE, HI, IL, IN, LA, MD, MN, MO, NJ, OH, OR, PA, SC, UT, WA | 0%, 35%, 50%, 60%, 70%, 85%, 95%; 100% from year 8 |
| Plus bonus vesting, CA | 5%, 40%, 55%, 60%, 65%, 70%, 75%; 100% from year 8 |
| 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 7-year withdrawal charge period; cannot be dropped during that period |
| Plus: enhanced free withdrawals | Up to 20% the next year if no withdrawal was 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 5th contract year (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 no-fee fixed rate does over 7 years
Hypothetical, for illustration only, not an Athene illustration. $100,000 in the Base version, all in the Fixed Strategy, if 4.85% were credited every year for 7 years: about $139,309. The 4.85% is set for the first year only and renews at Athene's discretion above the contract minimum, so the real result can be lower. A MYGA declares its rate for the whole term.
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 | B | 9.75% S&P 500 cap and 4.85% first-year fixed with no fees (September 25, 2026), the highest no-fee cap and fixed rate of the three Performance Elite terms on that date. 5-year MYGAs paid about 5.50% to 6.05% (October 14, 2026), declared for the full term. |
| 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 | B- | 7-year withdrawal charge from 9.0%, MVA, 10% free withdrawals from year 1. |
| Costs | B | Base version with no strategy charge has no rider or strategy fees. The 1.25% strategy charge and the 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 7 (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 | B | The shortest and simplest Performance Elite term, with the highest no-fee rates of the three on September 25, 2026. |
Get the current numbers for your amountor call 213-414-2808
Pros and cons
| Pros | Cons |
|---|---|
| Shortest Performance Elite term: 0% withdrawal charge from year 8. | Year-1 charge of 9.0% plus an MVA on excess withdrawals. |
| No fees on the Base version without the strategy charge. | The 4.85% fixed rate is for year 1; renewals are at Athene's discretion. |
| 10% free withdrawals from year 1. | The Plus bonus (5% or 6%) costs 0.95% a year for 7 years and vests over 7 years. |
| Optional 1.25% strategy charge raises the cap to 12.75%, with a credit back if charges exceed credits. | Strategy charges are deducted whether or not the index rises. |
| Issue ages up to 83. | California fixed rate is lower (3.00%). |
Who it's for, and when to look elsewhere
Fits: a buyer who wants index-linked growth with no income rider, can leave the money for 7 years, and wants the shortest withdrawal charge in Athene's Performance Elite line.
Look elsewhere if:
- You want lifetime income from a rider. Performance Elite has none; Athene's income products include Agility and Ascent Pro.
- You want a large premium bonus and can wait longer. Performance Elite 10 and Performance Elite 15 pay 17% to 28%, with longer vesting.
- 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 10 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 7-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 7 illustration I check three things first: Base or Plus, with or without the 1.25% strategy charge, and which column of the vesting chart applies if it is Plus. Those choices change the cap, the fees and what you keep if you leave early.
The number buyers misread most here is the cap with the strategy charge. A 12.75% cap with a 1.25% charge is not 12.75% net: in a year the index is flat or down, the charge still comes off the strategy value.
Against a MYGA, I compare the guaranteed column at year 7 with a 5-year or 7-year MYGA compounding at its declared rate. If the buyer's main goal is a known number, the MYGA usually wins on certainty. If they want index upside with a 7-year horizon, this is the shortest Performance Elite schedule.
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 7 rates?
Per Athene's product guide (rates effective September 25, 2026, matching its rates page on October 3, 2026): 9.75% S&P 500 1-year cap and 4.85% fixed (3.00% in California) with no strategy charge, or a 12.75% cap with the optional 1.25% strategy charge.
Does Performance Elite 7 have a premium bonus?
Only the Plus version. Performance Elite 7 Plus pays a 6% premium bonus in most states and 5% in AK, CA, CT, DE, HI, IL, IN, LA, MD, MN, MO, NJ, NV, OH, OK, OR, PA, SC, TX, UT and WA, for a 0.95% annual Liquidity Rider charge. The bonus vests over 7 years.
What are the Performance Elite 7 withdrawal charges?
9.0%, 8.8%, 7.9%, 6.9%, 5.9%, 5.0% and 4.0% in years 1 to 7, then 0%. In California: 9.0%, 8.0%, 6.9%, 5.8%, 4.7%, 3.6% and 2.4%. A market value adjustment applies to amounts above the 10% free withdrawal during those years.
Does Performance Elite 7 have an income rider?
No. It is an accumulation annuity. The Plus version adds a Liquidity Rider (enhanced free withdrawals, return of premium after year 4, enhanced annuitization after year 5), not an income rider.
What is the 1.25% strategy charge?
An optional annual charge on the strategy value in exchange for higher caps and participation rates (for example 12.75% instead of 9.75% on the S&P 500 cap). If total strategy charges exceed total interest credited by the end of the withdrawal charge period, Athene adds a one-time Strategy Charge Credit, unless charged withdrawals were 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 7 Product Guide form 68070 (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
Hans is licensed in CA and writes through multiple A-rated carriers.
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.
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
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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.