Is the Athene Performance Elite 10 a good annuity?
It can be, if you want a large day-one bonus and are sure you can leave the money alone for a decade. In most states the Base version adds 20% to your premium at ages 0 to 70 with no rider charge, which is a real head start. The catches are equally real: the bonus does not start vesting until year 7 in most states, the first-year withdrawal charge is 12%, Base allows nothing free in year 1, and the crediting rates are the lowest of the three Performance Elite terms. Plus adds 3 points of bonus and much better access to your money for 0.95% a year, which costs more than the extra bonus, so buy Plus only if you value the liquidity.
Athene Performance Elite 10 at a glance
| Product type | Single premium fixed index annuity |
|---|---|
| Issuing carrier | Athene Annuity and Life Company, West Des Moines, Iowa |
| Versions | Base (no rider) and Plus (Liquidity Rider with a larger bonus) |
| Withdrawal charges | 12%, 12%, 12%, 11%, 10%, 9%, 8%, 7%, 6%, 4% in most states; four state schedules in total |
| Premium bonus, ages 0 to 70 | Base 20% and Plus 23% in most states; 18% and 21% in 17 states and for Florida buyers 65 and older; 16% and 20% in CA |
| Bonus vesting | 0% through year 6, then 20% a year to 100% in year 11 (most states) |
| Liquidity Rider | Plus only, 0.95% of accumulated value a year for the withdrawal charge period |
| Free withdrawals | Base: 0% in year 1, 5% from year 2. Plus: 10% from year 1, up to 20% after a year with none |
| Minimum and maximum premium | $10,000 ($5,000 in 14 states) to $1,000,000 |
| Issue ages | 0 to 78 |
| Crediting options | 13 index strategies plus a 1-year fixed strategy |
| Rate sheet date | Rates effective August 7, 2026 (subject to change) |
| Market value adjustment | Yes, except in MD and MO |
| Availability | Every state except New York, plus D.C. |
Today's rates for Athene Performance Elite 10
Rates change often and vary by state, term and deposit size. Get today's numbers for your state, side by side with other top-rated carriers. Free, with no obligation.
What is the Athene Performance Elite 10?
The Athene Performance Elite 10 is a single premium fixed index annuity issued by Athene Annuity and Life Company. It asks for a 10-year commitment and, in return, credits a premium bonus to your accumulated value on the day the contract starts. From there your money earns index-linked interest, a declared fixed rate, or a mix, with a 0% floor so index declines never reduce it.
There are two versions. Base pays a bonus of up to 20% with no rider charge. Plus pays up to 23% and includes the Liquidity Rider for 0.95% a year, which opens up earlier and larger penalty-free withdrawals, a return of premium floor and an early annuitization option. The crediting strategies and their rates are the same on both.
It is built for growth, not lifetime income, and it has no income rider. For Athene's history, ownership and financial strength, see our Athene company review.
The premium bonus by state and age
The bonus depends on your version, your state, and the age of the oldest owner or annuitant on the issue date.
| State group | Base, ages 0 to 70 | Base, 71 to 75 | Base, 76 to 78 | Plus, ages 0 to 70 | Plus, 71 to 75 | Plus, 76 to 78 |
|---|---|---|---|---|---|---|
| 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 | 20% | 18% | 16% | 23% | 21% | 19% |
| AK, CT, DE, ID, LA, MN, NJ, NV, OH, OK, OR, PA, SC, TX, UT, WA | 18% | 16% | 14% | 21% | 19% | 17% |
| FL (ages 65 to 78) and MD | 18% | 16% | 14% | 21% | 19% | 17% |
| CA | 16% | 14% | 12% | 20% | 18% | 16% |
As a hypothetical example, a 64-year-old in Georgia who puts in $100,000 starts with $120,000 on Base or $123,000 on Plus. The same buyer at 72 would start with $118,000 or $121,000.
Bonus vesting: when the bonus is really yours
The bonus is credited right away but vests over time. If you surrender or withdraw more than the free amount, Athene keeps the unvested share of the bonus and of the interest it earned. Four schedules apply:
| Contract year | Most states | AK, CT, DE, ID, LA, MN, NJ, NV, OH, OK, OR, PA, SC, TX, UT, WA | FL (ages 65 to 78) and MD | CA |
|---|---|---|---|---|
| 1 | 0% | 0% | 0% | 10% |
| 2 | 0% | 10% | 0% | 20% |
| 3 | 0% | 20% | 0% | 30% |
| 4 | 0% | 30% | 0% | 40% |
| 5 | 0% | 40% | 0% | 50% |
| 6 | 0% | 50% | 0% | 60% |
| 7 | 20% | 60% | 20% | 70% |
| 8 | 40% | 70% | 40% | 80% |
| 9 | 60% | 80% | 60% | 90% |
| 10 | 80% | 90% | 80% | 100% |
| 11 and later | 100% | 100% | 100% | 100% |
In most states, then, a full surrender in year 6 forfeits the entire bonus. Free withdrawals, required minimum distributions, the nursing home and terminal illness waivers, and the death benefit are all exempt from the recapture.
Base vs Plus side by side
| Feature | Performance Elite 10 Base | Performance Elite 10 Plus |
|---|---|---|
| Premium bonus (ages 0 to 70, most states) | 20% | 23% |
| Annual rider charge | None | 0.95% of accumulated value during the withdrawal charge period |
| Free withdrawal, year 1 | 0% | 10% |
| Free withdrawal, year 2 on | 5% a year | 10% a year, or up to 20% after a year with no withdrawals |
| Return of premium | No | After year 4, cash surrender value never below net premium |
| Enhanced annuitization | No | After year 7 (year 6 in MD), annuitize with no withdrawal charge, vesting adjustment or MVA; not in CA or FL |
| Death benefit | Greater of accumulated value or Minimum Guaranteed Contract Value | Same, or the return of premium amount if higher |
Is Plus worth 0.95% a year?
The liquidity rider charge is taken at each contract year end and whenever you withdraw, annuitize, surrender or die, for as long as withdrawal charges apply. You cannot drop it early. Ten years at 0.95% is roughly 9.5% of your value, before any growth, to buy 3 extra points of bonus (4 in California). On bonus alone, Plus loses.
What you are really buying is access. On Base, a $120,000 hypothetical value gives you nothing free in year 1 and about $6,000 a year after that. On Plus, a similar value lets you take about $12,000 a year from the start, or about $24,000 after a year off, and after year 4 you can walk away with at least your premium back, less prior withdrawals. If there is a real chance you will need more than 5% a year, Plus is the safer version. If the money is truly long-term, Base keeps more of it working.
Withdrawal charges and market value adjustment
Withdrawal charges apply to surrenders and to withdrawals above the free amount. The schedule depends on where you live:
| Contract year | Most states (incl. FL ages 0 to 64) | AK, CT, DE, ID, LA, MN, NJ, NV, OH, OK, OR, PA, SC, TX, UT, WA | FL (ages 65 to 78) and MD | CA |
|---|---|---|---|---|
| 1 | 12% | 8.3% | 10% | 8.2% |
| 2 | 12% | 8.0% | 10% | 7.7% |
| 3 | 12% | 7.1% | 10% | 6.6% |
| 4 | 11% | 6.2% | 10% | 5.6% |
| 5 | 10% | 5.3% | 9% | 4.5% |
| 6 | 9% | 4.4% | 8% | 3.4% |
| 7 | 8% | 3.5% | 7% | 2.3% |
| 8 | 7% | 2.6% | 6% | 1.2% |
| 9 | 6% | 1.6% | 5% | 0.1% |
| 10 | 4% | 0.9% | 4% | 0% |
| 11 and later | 0% | 0% | 0% | 0% |
A market value adjustment also applies to excess withdrawals and surrenders during the charge period, except in Maryland and Missouri. When interest rates are higher than when you bought, or have fallen by less than 0.25%, the MVA reduces your payout; a drop of more than 0.25% increases it. An early exit in most states can cost a 12% charge, the full bonus and a negative MVA at once. Our surrender charges guide explains how they combine.
Crediting strategies and current rates
You can divide your premium among 13 index strategies and a fixed strategy, and reallocate when each term ends. Six custom indexes come in 1-year and 2-year point-to-point versions that use a participation rate with no cap. The S&P 500 is offered as a 1-year strategy with a cap. Each index strategy can be taken with or without a 1.25% annual strategy charge.
Rates below are from Athene's Performance Elite 10 product guide, rates effective August 7, 2026. They apply to both Base and Plus, are guaranteed only for the first term, and change often, so your strategist will confirm the current figures for your state.
| Strategy | With 1.25% strategy charge | No strategy charge |
|---|---|---|
| 2-year point-to-point, participation rate, no cap | ||
| AI Powered Global Opportunities (AIGO) | 180% | 125% |
| AI Powered US Equity (AIPEX) | 195% | 140% |
| BNP Paribas Multi Asset Diversified 5 (BNPIMAD5) | 255% | 180% |
| Nasdaq FC (BOFANFCC) | 170% | 120% |
| S&P 500 FC (SPXFCDUE) | 115% | 80% |
| UBS Innovative Balanced (UBSIBAL) | 180% | 125% |
| 1-year point-to-point, participation rate, no cap | ||
| AI Powered Global Opportunities (AIGO) | 135% | 95% |
| AI Powered US Equity (AIPEX) | 150% | 107% |
| BNP Paribas Multi Asset Diversified 5 (BNPIMAD5) | 185% | 130% |
| Nasdaq FC (BOFANFCC) | 110% | 77% |
| S&P 500 FC (SPXFCDUE) | 85% | 60% |
| UBS Innovative Balanced (UBSIBAL) | 135% | 95% |
| 1-year point-to-point, cap rate | ||
| S&P 500 (SPX) | 8.00% cap | 5.50% cap |
| 1-year fixed strategy | Not offered | 2.90% (also 2.90% in CA) |
Two-year strategies are not sold in New Hampshire. Athene can add strategies with regulatory approval or remove them, in which case the money may move to the fixed strategy at the end of its term.
These rates sit below the Performance Elite 7 and 15 on every line. The bonus is part of the reason: Athene's brochure notes that bonus annuities may carry lower caps or participation rates than similar contracts without one.
The strategy charge and the Strategy Charge Credit
A charged strategy costs 1.25% of its value a year, figured on each anniversary and deducted monthly. The first term's charge rate is locked at issue, and a new rate is declared for each later term. Mixing charged and uncharged strategies lets you dial the blended cost: a quarter of the premium in charged strategies works out to about 0.31% a year, half to 0.63% and three quarters to 0.94%.
At the end of year 10, Athene compares your total strategy charges with your total interest credits. If the charges were bigger, a one-time Strategy Charge Credit makes up the difference, spread across your strategies. Any withdrawal that triggers a withdrawal charge, including a surrender, cancels the credit. It only covers strategy charges, not the Plus rider charge, so a Plus owner who uses charged strategies can pay up to 2.20% a year (1.25% plus 0.95%) with only part of that backstopped.
The indexes behind the rates
| Index | Approach | Launched | Built-in cost |
|---|---|---|---|
| AIGO | AI-driven blend of global stocks, bonds and inflation-sensitive assets | March 22, 2023 | 0.85% a year |
| AIPEX | AI-selected U.S. stocks with daily risk control | August 9, 2019 | 0.50% a year |
| BNPIMAD5 | Eight equity, bond and commodity components in three regions, 5% volatility target | January 25, 2016 | 0.50% a year |
| Nasdaq FC | Nasdaq-100 exposure with intraday volatility control and a monthly growth limit | January 29, 2020 | Embedded costs |
| S&P 500 FC | S&P 500 exposure with intraday volatility control | June 23, 2023 | 0.50% decrement |
| UBSIBAL | Stocks, bonds and commodities weighted using leading economic indicators | March 20, 2023 | Embedded costs |
| S&P 500 | Large U.S. companies, price return | Long history | None |
The six custom indexes are excess return indexes: they track performance above a cash-like rate, after fees, and their volatility controls narrow both the good and bad years. Any history before their launch dates is back-tested. Read more in our guide to proprietary indices and our BNPIMAD5 and Nasdaq FC index reviews.
Strategy Preset
Strategy Preset is Athene's automatic allocation option, exclusive to Performance Elite. It invests across the six custom indexes at fixed weights (20% each in UBSIBAL, AIGO and BNPIMAD5, 15% each in S&P 500 FC and Nasdaq FC, 10% in AIPEX) and rebalances the renewing money each anniversary. Pick one of three profiles:
- Conservative: 1-year strategies, so every year brings a chance at a credit.
- Balanced: a ladder. Half the money starts in 1-year strategies and half in 2-year; after year 1, the 1-year half shifts into 2-year terms, so half your value renews each year at 2-year rates.
- Growth: the same ladder, using strategies with the charge.
When the 10-year charge period ends, all preset money moves into 1-year strategies and allocation becomes your job. Switching to manual allocation earlier ends your access to Strategy Preset. It is not offered in New Hampshire.
Free withdrawals, waivers and the death benefit
- Free withdrawals: Base allows 5% of the prior anniversary value a year starting in year 2; Plus allows 10% from year 1. Required minimum distributions count as free withdrawals. Money withdrawn earns no index interest for that term. See how free withdrawals work.
- Nursing home waiver: after year 1, up to 100% of the value, without withdrawal charges or MVA, if the annuitant is confined to a qualified care facility for 60 days in a row. The annuitant must not be confined at issue, and the confinement must begin a year or more after issue. Not available in CA or MA. See the nursing home waiver.
- Terminal illness waiver: after the first anniversary, up to 100% of the value if the annuitant is diagnosed with an illness expected to be fatal within a year, with the diagnosis at least a year after issue. Not available in CA. See the terminal illness waiver.
- Death benefit: before annuitization, the greatest of accumulated value with no surrender charges, the Minimum Guaranteed Contract Value, or on Plus the return of premium amount. The bonus is not recaptured at the annuitant's death.
Neither waiver is long-term care insurance. Gains are taxed as ordinary income when withdrawn, and withdrawals before age 59 and a half can also face the IRS 10% penalty.
Performance Elite 7 vs 10 vs 15
| Performance Elite 7 | Performance Elite 10 | Performance Elite 15 | |
|---|---|---|---|
| Withdrawal charge period | 7 years | 10 years | 15 years |
| Year 1 charge | 9.0% | 12% in most states | 15% |
| Base bonus (youngest ages) | None | 20% | 24% |
| Plus bonus (youngest ages) | 6% | 23% | 27% |
| Base free withdrawal | 10% from year 1 | 5% from year 2 | 5% from year 2 |
| BNPIMAD5 2-year rate, with / without charge | 355% / 280% | 255% / 180% | 300% / 225% |
| Issue ages | 0 to 83 | 0 to 78 | 0 to 73 |
| Where sold | All states but NY | All states but NY | 33 states and D.C. |
The 7's rates are effective May 1, 2026; the 10 and 15 are effective August 7, 2026. See the Performance Elite 7 review and the Performance Elite 15 review, which also has a longer guide to choosing a term.
Who the Performance Elite 10 fits
It suits a buyer who wants a sizable bonus, is confident the money can stay put for ten years, and plans to live on other savings in the meantime. It is also a practical option for people aged 74 to 78 who are past the Performance Elite 15's age limit but still want a bonus.
It fits poorly if you may need more than 5% a year (unless you choose Plus), care more about rates than the bonus, or want a lifetime income rider.
Other annuities to consider
- Athene Performance Elite 7: shorter term, higher rates, little or no bonus
- Athene Performance Elite 15: the largest bonus in the family for a 15-year commitment
- Athene Aviator 10: another 10-year Athene FIA
- Athene Ascent Pro 10 Bonus: a 10-year Athene FIA designed around lifetime income
How to get a Performance Elite 10 quote
- Request a Performance Elite 10 quote with your age, state and premium. Your state decides the bonus, the charge schedule and the vesting schedule.
- Choose Base or Plus based on how much access you may need over ten years.
- Pick your strategies or a Strategy Preset profile, and decide how much should carry the strategy charge.
- Review the Certificate of Disclosure during your free look period.
Tax Free Wealth Plan is a licensed independent insurance agency appointed with 25 companies. We can compare the Performance Elite 10 with other top-rated carriers side by side. The insurance company pays us if you buy, so there is no fee to you.
Pros and cons
Pros
- A large premium bonus on both versions: up to 20% on Base and 23% on Plus for ages 0 to 70 in most states, credited on day one.
- The Base version carries no rider charge, so the full bonus goes to work without an annual deduction.
- Plus adds genuine liquidity: 10% free from year 1, up to 20% after a year with no withdrawals, a return of premium floor after year 4, and penalty-free annuitization after year 7.
- The Strategy Charge Credit refunds any shortfall if strategy charges exceed your interest credits over the full 10 years, provided you took no charged withdrawals.
- Available in every state but New York to buyers up to age 78, with nursing home and terminal illness waivers (except in CA) and an A+ rated carrier.
Cons
- Ten years is a long lockup, and the first-year withdrawal charge is 12% in most states.
- In most states the bonus is 0% vested through year 6. Surrender early and you give back the whole bonus and its earnings, on top of withdrawal charges and an MVA.
- Base allows no free withdrawal in year 1 and only 5% a year after that, half of what the Performance Elite 7 allows.
- The crediting rates are the lowest in the Performance Elite family, as of August 7, 2026. Athene notes that bonus contracts may carry lower caps and participation rates.
- Rates are only guaranteed for the first term, and the custom indexes are excess return indexes with built-in costs and mostly back-tested histories.
Frequently asked questions
What is the minimum premium for the Athene Performance Elite 10?
$10,000 in most states and $5,000 in AK, CT, DE, ID, LA, MN, NJ, NV, OH, OK, OR, PA, UT and WA. The maximum is $1,000,000 without company approval. It is a single premium contract, so you fund it once. Qualified contracts need a single owner; non-qualified contracts can be owned jointly.
How big is the Performance Elite 10 bonus?
It depends on the version, your state and the age of the oldest owner or annuitant at issue. For ages 0 to 70 in most states it is 20% on Base and 23% on Plus. In 16 states plus Maryland and Florida buyers aged 65 to 78 it is 18% and 21%. In California it is 16% and 20%. Each step up in age band (71 to 75, then 76 to 78) lowers the bonus by 2 points in most cases.
What is the difference between Performance Elite 10 Base and Plus?
Plus adds the Liquidity Rider for 0.95% of your value a year during the withdrawal charge period. In exchange you get a bonus about 3 points higher (4 in California), 10% free withdrawals from year 1 instead of 5% from year 2, up to 20% free after a year with no withdrawals, a return of premium guarantee after year 4, and penalty-free annuitization after year 7 (year 6 in MD; not offered in CA or FL). Crediting rates are identical.
When is the Performance Elite 10 bonus fully mine?
In most states, and in Florida (ages 65 to 78) and Maryland, the bonus is 0% vested through year 6, then 20%, 40%, 60% and 80% in years 7 to 10, and 100% from year 11. In AK, CT, DE, ID, LA, MN, NJ, NV, OH, OK, OR, PA, SC, TX, UT and WA it vests 10% a year starting in year 2. In California it vests 10% a year starting at 10% in year 1 and is fully vested in year 10. Vesting only matters if you surrender or take more than the free amount; death and free withdrawals do not trigger recapture.
Are the Performance Elite 10 rates guaranteed?
Each strategy's cap or participation rate is guaranteed for its first term, 1 or 2 years, and then Athene declares a new rate. The rates on this page come from Athene's product guide with rates effective August 7, 2026. They change, and your strategist will confirm the current rate for your state before you apply.
Does the Performance Elite 10 have an income rider?
No. It is an accumulation contract. You can turn the value into guaranteed income by annuitizing, and Plus owners can do that after year 7 without withdrawal charges. If you want a rider that pays lifetime withdrawals while you keep control of the account, look at the Athene Ascent Pro 10 Bonus.
Written and reviewed by
James Forren Warren
Licensed Retirement Income Strategist · License #20551202
James Forren Warren is a licensed Retirement Income Strategist with Tax Free Wealth Plan. For the past five years he has helped individuals and families turn their savings into retirement income they can count on. He writes and reviews the annuity research on this site and keeps it plain: what a product does, what it costs you, and who it actually fits.
Sources
- Athene Performance Elite 10 Product Guide, form 68069, rates effective August 7, 2026
- Athene Performance Elite Fixed Indexed Annuity and Liquidity Rider brochure, form 68000 (04/22/26)
- Athene Performance Elite: Plan for performance, indexed crediting strategies, form 68080 (03/31/26)
- Athene Performance Elite: Choosing an allocation is as easy as 1-2-3, form 68089 (01/26/26)
- Athene Performance Elite: Finding value in a charge, form 68090 (05/01/26)
- Athene Strategy Preset, form 68224 (01/26/26)
- AM Best rating search
- NAIC consumer information source
Educational only, not investment, tax or legal advice. Tax Free Wealth Plan LLC is a licensed insurance agency, not a registered investment adviser or broker-dealer. Annuities are not bank deposits, are not FDIC insured and are not guaranteed by any government agency. Guarantees are backed solely by the claims-paying ability of the issuing insurance company. Features, rates and availability vary by state and change over time; the contract and disclosure documents govern.
