Athene Annuities Review
Athene was the largest provider of fixed annuities in 2024, with over $36 billion in sales. Its widespread availability, flexible minimum deposit requirements, and optional return-of-premium rider contributed to its inclusion on our best annuities list. Athene earned an A+ for financial strength from A.M. Best and offers diverse products, including immediate annuities, fixed indexed annuities, and registered indexed linked annuities.
Types of Athene Annuities
- Fixed Annuities: Provide guaranteed growth for three, five, or seven years at a consistent rate, typically between 4% and 5%.
- Fixed Indexed Annuities: Combine growth tied to a market index like the S&P 500 with protection from market downturns.
- Single Premium Immediate Annuities: Allow a one-time lump sum contribution in exchange for monthly, quarterly, semi-annual, or annual payouts.
- Registered Index-Linked Annuities: Track the performance of a stock market index with both a ceiling and floor for growth.
Pros and Cons
Pros:
- Wide variety of annuity types and accumulation options
- Highly rated for financial strength
- One of the largest providers of annuities in the U.S.
- Minimum initial deposit as low as $5,000
- Can add funds after initial premium
Cons:
- Poor customer review ratings with Better Business Bureau
- Not all products available in all states
- Lower fixed indexed annuity rates than some competitors
- Ranked below average for customer satisfaction by J.D. Power
Customer Service and Purchasing
Athene doesn’t issue annuities online; customers must work with a financial professional. Customer service agents are available Monday to Friday from 8 a.m. to 5 p.m. CT at 888-709-3922.
Comparison to Other Providers
Athene is compared to Gainbridge and Allianz in terms of annuity offerings and customer satisfaction. Gainbridge focuses solely on fixed annuities and offers slightly higher rates than Athene. Allianz offers fixed indexed annuities and registered index-linked annuities, with varying product availability and fees.
Is an Athene Annuity Right for You?
Consider Athene if you want a highly specific annuity that protects you from market lows while allowing access to highs. However, other direct-to-consumer brands may offer higher yields. Carefully review Athene’s annuity offerings, reputation, limitations, and fees before deciding.
