Is the Athene Performance Elite 7 a good annuity?
For growth money you can leave alone for seven years, yes, it deserves a close look. It carries the highest caps and participation rates of the three Performance Elite terms, the Base version has no rider charge, and you can take 10% a year out penalty free starting in year 1. The Plus version adds a 5% or 6% bonus and extra liquidity for a 0.95% yearly rider charge, which over the full term roughly equals the bonus, so choose Plus for the liquidity features rather than the bonus. The main costs are a 9% first-year withdrawal charge, a market value adjustment on early excess withdrawals, and rates that Athene can reset after each crediting term.
Athene Performance Elite 7 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 plus bonus) |
| Withdrawal charges | 9.0%, 8.8%, 7.9%, 6.9%, 5.9%, 5.0%, 4.0%, then 0% from year 8 (lower in CA) |
| Premium bonus | Base: none. Plus: 6% in most states, 5% in 21 states |
| Liquidity Rider | Plus only, 0.95% of accumulated value a year for 7 years |
| Free withdrawals | 10% a year from year 1; Plus allows up to 20% after a year with no withdrawal |
| Minimum and maximum premium | $10,000 to $1,000,000 |
| Issue ages | 0 to 83 |
| Crediting options | 13 index strategies plus a 1-year fixed strategy |
| Rate sheet date | Rates effective May 1, 2026 (subject to change) |
| Market value adjustment | Yes, on excess withdrawals and surrenders during the 7 years |
| Availability | Every state except New York, plus D.C. |
Today's rates for Athene Performance Elite 7
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 7?
The Athene Performance Elite 7 is a single premium fixed index annuity from Athene Annuity and Life Company. You put in one deposit, pick how it earns interest, and leave it for a 7-year withdrawal charge period. Your value can grow with index-linked credits or a declared fixed rate, and a 0% floor means a falling market never reduces it through index losses.
It comes in two versions. Base is the plain contract: no premium bonus and no rider charge. Plus adds Athene's Liquidity Rider for 0.95% a year, which buys a 5% or 6% premium bonus and several extra ways to reach your money. Every crediting strategy is available on both, at the same rates.
Of the three Performance Elite terms (7, 10 and 15 years), the 7 has the shortest lockup and the richest crediting rates. It has no income rider. For background on the carrier, see our Athene company review.
Base vs Plus: which version fits
Here is what changes when you choose Plus. Everything not listed, including the crediting strategies and their rates, is the same on both.
| Feature | Performance Elite 7 Base | Performance Elite 7 Plus |
|---|---|---|
| Premium bonus | None | 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 |
| Annual rider charge | None | 0.95% of accumulated value, years 1 to 7 |
| Free withdrawal | 10% a year from year 1 | 10% a year from year 1, or up to 20% if you took nothing the prior year |
| Return of premium | No | After year 4, cash surrender value never below net premium |
| Enhanced annuitization | No | After year 5, turn the full value into income with no withdrawal charge, bonus vesting 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 |
How the Plus bonus works
The bonus is added to your accumulated value on day one, so a hypothetical $100,000 premium in a 6% state starts at $106,000. It earns interest like the rest of your money. It is not fully yours until year 8, though. If you surrender, or withdraw more than the free amount, the unvested share of the bonus and its earnings is taken back. The schedule depends on your state:
| Contract year | Most states | AK, CT, DE, HI, IL, IN, LA, MD, MN, MO, NJ, OH, OR, PA, SC, UT, WA | CA |
|---|---|---|---|
| 1 | 0% | 0% | 5% |
| 2 | 5% | 35% | 40% |
| 3 | 15% | 50% | 55% |
| 4 | 25% | 60% | 60% |
| 5 | 40% | 70% | 65% |
| 6 | 60% | 85% | 70% |
| 7 | 80% | 95% | 75% |
| 8 and later | 100% | 100% | 100% |
Free withdrawals, required minimum distributions, the nursing home and terminal illness waivers, and the death benefit do not trigger the bonus recapture.
How the 0.95% Liquidity Rider charge works
The liquidity rider charge is 0.95% of accumulated value, taken at the end of each contract year and also when you withdraw, annuitize, surrender or die. It applies only during the 7-year withdrawal charge period, and you cannot cancel the rider during that time.
Simple math shows the trade. Seven years at 0.95% is about 6.65% of your value in total (more in dollars if the value grows), which is roughly the size of the 6% bonus. On the 7, Plus is less a way to get extra money and more a way to buy flexibility: the 20% carryover, the return of premium floor after year 4, and the option to annuitize early. If you are confident you will not touch the money, Base keeps every dollar of the rider charge working for you.
Withdrawal charges and market value adjustment
Take out more than the free amount, or surrender, during the first seven years and a withdrawal charge applies:
| Contract year | Charge (most states) | Charge (CA) |
|---|---|---|
| 1 | 9.0% | 9.0% |
| 2 | 8.8% | 8.0% |
| 3 | 7.9% | 6.9% |
| 4 | 6.9% | 5.8% |
| 5 | 5.9% | 4.7% |
| 6 | 5.0% | 3.6% |
| 7 | 4.0% | 2.4% |
| 8 and later | 0% | 0% |
A market value adjustment also applies to the excess portion of a withdrawal or surrender during those years. Athene's brochure explains the direction: if interest rates have risen, stayed flat or fallen by less than 0.25% since you bought, the MVA is negative and lowers what you receive. If rates have fallen by more than 0.25%, it is positive. Our surrender charges guide walks through how these costs stack.
Crediting strategies and current rates
You can split your premium among 13 index strategies and one fixed strategy, and move money between them when each term ends. Six custom indexes are offered with 1-year and 2-year point-to-point terms using a participation rate and no cap. The S&P 500 is offered as a 1-year point-to-point strategy with a cap rate. Every index strategy comes with or without the optional 1.25% strategy charge.
These are the rates from Athene's Performance Elite 7 product guide, rates effective May 1, 2026. They apply to both Base and Plus, they are locked only for your first term, and they change often. Your strategist will confirm today's numbers 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) | 255% | 200% |
| AI Powered US Equity (AIPEX) | 270% | 215% |
| BNP Paribas Multi Asset Diversified 5 (BNPIMAD5) | 355% | 280% |
| Nasdaq FC (BOFANFCC) | 240% | 190% |
| S&P 500 FC (SPXFCDUE) | 160% | 128% |
| UBS Innovative Balanced (UBSIBAL) | 250% | 200% |
| 1-year point-to-point, participation rate, no cap | ||
| AI Powered Global Opportunities (AIGO) | 180% | 145% |
| AI Powered US Equity (AIPEX) | 205% | 165% |
| BNP Paribas Multi Asset Diversified 5 (BNPIMAD5) | 250% | 200% |
| Nasdaq FC (BOFANFCC) | 150% | 120% |
| S&P 500 FC (SPXFCDUE) | 117% | 92% |
| UBS Innovative Balanced (UBSIBAL) | 180% | 145% |
| 1-year point-to-point, cap rate | ||
| S&P 500 (SPX) | 11.50% cap | 8.75% cap |
| 1-year fixed strategy | Not offered | 4.60% (3.00% in CA) |
Two-year strategies are not available in New Hampshire. Athene can add strategies with regulatory approval or retire one; money in a retired strategy may move to the fixed strategy at the end of its term.
What the 1.25% strategy charge buys
Each charged strategy costs 1.25% of that strategy's value a year, set at each anniversary and taken in twelve monthly pieces. The rate is locked for your first term, and Athene declares a new one at each renewal. The fixed strategy has no charge option.
Athene's own illustration makes the case. In its hypothetical example, $100,000 sat in the 1-year S&P 500 strategy of the Performance Elite 7 from 2016 through 2025, using actual index returns and the current caps of 8.75% (no charge) and 11.50% (with charge). The no-charge version ended at $195,629. The charged version paid $17,345 in charges and still ended at $206,942, or $11,312 more. Look at the down years in the same example, though: in years 3 and 7 the index fell, the no-charge value held flat, and the charged value dropped. It is a hypothetical back-test, not a prediction, and a choppier decade could reverse the result.
You do not have to go all in. Putting a quarter, half or three quarters of your premium in charged strategies works out to a blended charge of about 0.31%, 0.63% or 0.94% a year.
The Strategy Charge Credit
This is the backstop that makes the charge easier to live with. At the end of year 7, Athene adds up every strategy charge you paid and every interest credit you earned. If the charges are larger, it adds the difference back to your value, once, spread across your funded strategies. You lose the credit if you take any withdrawal that incurs a withdrawal charge, including a full surrender. The credit covers strategy charges only; the guide describes no matching credit for the Plus rider charge.
The indexes in plain English
| Index | What it tracks | Launched | Built-in cost |
|---|---|---|---|
| AIGO | AI-driven mix of global stocks, bonds and inflation-sensitive assets | March 22, 2023 | 0.85% a year |
| AIPEX | U.S. stocks picked by AI, with daily risk control | August 9, 2019 | 0.50% a year |
| BNPIMAD5 | Eight futures and commodity components across 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, commodities and bonds weighted by leading economic indicators | March 20, 2023 | Embedded costs |
| S&P 500 | About 80% of U.S. market value, price only | Long history | None |
All but the S&P 500 are excess return indexes: they measure performance above a cash-like rate, after embedded fees, with volatility controls that trim both gains and losses. That is why their participation rates look so high. Performance before each launch date is back-tested. Our guide to proprietary indices and our reviews of the BNP Paribas MAD 5 and Nasdaq FC indexes go deeper.
Strategy Preset: a hands-free allocation
If picking among 14 options sounds like work, Strategy Preset does it for you. It spreads your money across the six custom indexes in a fixed blend: 20% UBSIBAL, 20% AIGO, 20% BNPIMAD5, 15% S&P 500 FC, 15% Nasdaq FC and 10% AIPEX. You choose one of three profiles:
- Conservative uses 1-year strategies, so you have a chance at a credit every year.
- Balanced ladders the money: half starts in 1-year strategies and half in 2-year, and after year 1 the 1-year half moves to 2-year terms, so part of your money renews each year at 2-year rates.
- Growth uses the same ladder and adds the strategy charge for higher rates.
Each anniversary, the renewing money is rebalanced back to the target mix. In Athene's example, a $100,000 premium worth $103,975 after year 1 is reset to $20,795 in each 20% index, $15,596 in each 15% index and $10,398 in AIPEX. You can also hold the no-charge 1-year S&P 500 strategy and the fixed strategy alongside a preset. Two catches: switching to manual allocation during the 7 years ends your access to Strategy Preset, and at the end of year 7 all preset money moves to 1-year strategies, after which allocation is up to you. Strategy Preset is not available in New Hampshire.
Free withdrawals, waivers and the death benefit
- Free withdrawals: up to 10% of the accumulated value as of the last anniversary, each year, from year 1, with no withdrawal charge, MVA or bonus recapture. Required minimum distributions on an IRA count toward the free amount. Money you withdraw earns no index credit for that term. See how free withdrawals work.
- Nursing home waiver: after year 1, up to 100% of the value is available if the annuitant has been in a qualified care facility for at least 60 days in a row. The annuitant cannot be confined when the contract is issued, and the stay must begin at least a year after issue. Not available in CA or MA. More on 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 cause death within a year, with the diagnosis made at least a year after issue. Not available in CA.
- Death benefit: before annuitization, beneficiaries receive the greatest of the accumulated value with no surrender charges, the Minimum Guaranteed Contract Value, or on Plus the return of premium amount.
Neither waiver is long-term care insurance. Withdrawals are taxed as ordinary income on the gain and may face the IRS 10% penalty before age 59 and a half.
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 |
| S&P 500 cap, with / without charge | 11.50% / 8.75% | 8.00% / 5.50% | 9.50% / 7.00% |
| 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 10 and 15 figures are from guides with rates effective August 7, 2026, and bonuses vary by state and age. Full details are in our Performance Elite 10 review and Performance Elite 15 review.
Who the Performance Elite 7 fits
It suits you if you want growth with a 0% floor, can leave the money alone for about seven years, and value rates over a bonus. It works well for IRA or 401(k) rollovers, since the 10% free withdrawal from year 1 can cover required distributions. It is open to buyers up to age 83, older than the 10 or 15 allow.
It is a weaker fit if you want a guaranteed lifetime income rider, might need more than 10% a year within seven years, or would rather have one simple fixed rate. In that last case, compare a MYGA.
Other annuities to consider
- Athene Aviator 5: a shorter 5-year FIA from the same carrier
- Athene Performance Elite 10: a larger bonus for three more years of commitment
- Athene Ascent Pro 10 Bonus: Athene's FIA built around an income rider
- Performance Elite 7 vs EquiTrust MarketPower: a spec-by-spec comparison
- Best fixed index annuities for accumulation
How to get a Performance Elite 7 quote
- Request a Performance Elite 7 quote with your age, state and premium, since the bonus, schedules and rates vary by state.
- Decide between Base and Plus based on how much access you may need, not the bonus.
- Choose your own mix of strategies, or a Strategy Preset profile, and decide how much of it should carry the strategy charge.
- Read 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 7 with other top-rated carriers side by side, and the insurance company pays us if you buy, so there is no fee to you.
Pros and cons
Pros
- The strongest crediting rates in the Performance Elite family: as of May 1, 2026, a 355% participation rate on the 2-year BNP Paribas strategy with the charge and an 11.50% S&P 500 cap.
- The Base version has no rider charge at all, and you only pay a strategy charge on money you deliberately put in a charged strategy.
- 10% of the value can come out each year starting in year 1 without a withdrawal charge or MVA, which is more access than the 10- and 15-year versions give on Base.
- The Strategy Charge Credit acts as a one-time backstop: if strategy charges add up to more than your interest credits by the end of year 7, Athene credits back the difference (as long as you took no charged withdrawals).
- Nursing home and terminal illness waivers, a death benefit with no surrender charges, and a carrier rated A+ by AM Best, S&P and Fitch.
Cons
- A 9% withdrawal charge in year 1 plus a market value adjustment on excess withdrawals. Money you might need in full within seven years does not belong here.
- On Plus, the 0.95% yearly rider charge over seven years adds up to about as much as the 6% bonus, and the bonus vests gradually, so an early surrender forfeits part of it.
- Rates are only guaranteed for the first crediting term. Athene declares new caps, participation rates and strategy charge rates at each renewal.
- Six of the seven indexes are volatility-controlled excess return indexes with built-in costs, and several launched in 2023, so most of their history is back-tested.
- No income rider. This is an accumulation contract; lifetime income comes only through annuitization.
Frequently asked questions
What is the minimum premium for the Athene Performance Elite 7?
Athene's product guide lists a $10,000 minimum and a $1,000,000 maximum single premium, with larger amounts possible with company approval. The same limits apply to IRA rollovers and after-tax money. Qualified contracts must have a single owner; non-qualified contracts can be jointly owned.
What is the difference between Performance Elite 7 Base and Plus?
Base has no premium bonus and no rider charge. Plus adds the Liquidity Rider for 0.95% of the accumulated value each year during the 7-year withdrawal charge period. In return, Plus pays a 6% premium bonus (5% in 21 states), lets you take up to 20% free in a year that follows a year with no withdrawals, guarantees your cash surrender value will not fall below your net premium after year 4, and allows penalty-free annuitization after year 5 (not in CA or FL). Crediting rates are the same on both versions.
Are the participation rates and caps guaranteed?
Only for the first crediting term. Each strategy's cap or participation rate is locked when the term starts, 1 or 2 years depending on the strategy, and Athene declares new rates at each renewal. The rates on this page are from Athene's product guide with rates effective May 1, 2026. They change, so your strategist will confirm today's rates for your state before you apply.
Can I add an income rider to the Performance Elite 7?
No. The Performance Elite 7 is built for accumulation, and its only optional rider is the Liquidity Rider on the Plus version. If guaranteed lifetime withdrawals are the goal, Athene offers contracts such as the Athene Ascent Pro 10 Bonus that are designed around an income rider.
What happens if my chosen index credits 0% in a given year?
Your index credit for that term is 0%, never negative, so the index itself cannot reduce your value. Charges are different. If you picked a strategy with the 1.25% strategy charge, or you own the Plus version with its 0.95% rider charge, those charges still come out in a flat year, which can lower your accumulated value.
How does the Performance Elite 7 compare to the Performance Elite 10 and 15?
The 7 has the shortest withdrawal charge period and the highest crediting rates, but no bonus on Base and only a 5% or 6% bonus on Plus. The Performance Elite 10 and Performance Elite 15 pay much larger bonuses (up to 23% and 27% on Plus) in exchange for longer lockups, lower free withdrawals on Base and, on the 10, noticeably lower rates.
How does the Performance Elite 7 compare to a bonus FIA like EquiTrust MarketPower?
They take different approaches. The Performance Elite 7 leans on high participation rates and a short 7-year schedule, with only a modest bonus on the Plus version. A bonus-led contract like EquiTrust MarketPower puts more of its value into an upfront bonus and asks for a longer commitment. See our head-to-head comparison for the details.
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 7 Product Guide, form 68070, rates effective May 1, 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.
