Is the Athene Ascent Pro 10 a Good Annuity for Guaranteed Lifetime Income?
For buyers who want increasing lifetime income – not just a flat guaranteed payment – the Athene Ascent Pro 10 stands apart from most income-focused FIAs. The built-in Ascent Income Rider offers something rare: the ability to receive a pay raise on your annual income even after your account value reaches zero. Most lifetime income riders stop increasing once the account is depleted. Athene’s does not, as long as you selected an increasing income option at purchase.
The trade-off is that the rider is mandatory. Every Ascent Pro 10 contract carries a 1.00% annual fee charged against the benefit base from day one, whether you plan to use the income feature or not. If guaranteed lifetime income is not your goal, this product is the wrong choice. But if income is the goal – especially inflation-protected or earnings-indexed income – this product earns serious consideration.
Athene Ascent Pro 10 at a Glance
| Feature | Detail |
|---|---|
| Issued By | Athene Annuity and Life Company |
| AM Best Rating | A (Excellent) |
| Product Type | Single Premium Fixed Index Annuity |
| Surrender Period | 10 years |
| Minimum Premium | $10,000 |
| Maximum Premium | $1,000,000 |
| Maximum Issue Age | 80 |
| Free Withdrawals | 10% of account value per year |
| Income Rider | Ascent Income Rider – mandatory, included in every contract |
| Rider Fee | 1.00% of benefit base annually (charged regardless of whether income is activated) |
| Free Look Period | 20 days (30 days in some states) |
| Death Benefit | Greater of account value or minimum guaranteed contract value; spousal continuation available |
| Surrender Charge Waivers | Nursing home confinement, terminal illness, renewal rate bailout |
| Accepted Funds | IRA, Roth IRA, 401k, 403b, pension, SEP IRA, non-qualified cash |
The Ascent Income Rider: Two Options, Six Payment Choices
At purchase, you choose between Option 1 and Option 2. This choice is permanent and cannot be changed after issue. You do not need to choose your payment type (Level, Earnings-Indexed, or Inflation-Adjusted) until the day you activate income. That flexibility is one of the product’s genuine advantages – you can watch how your retirement unfolds and decide what kind of income fits best when the time comes.
Option 1 – Higher Guaranteed Floor
Option 1 provides a 20% income base bonus at issue plus a 10% simple roll-up in years 1-10 and 5% simple roll-up in years 11-20. This is the better choice for buyers who want maximum certainty and the highest floor income regardless of how the indexes perform.
| Year / Age (starting age 60) | Income Base (Option 1, $100K premium) |
|---|---|
| Issue (age 60) | $120,000 (after 20% bonus) |
| Year 2 (age 61) | $132,000 |
| Year 3 (age 62) | $144,000 |
| Year 4 (age 63) | $156,000 |
| Year 5 (age 64) | $168,000 |
| Year 6 (age 65) | $180,000 |
| Year 8 (age 67) | $204,000 |
| Year 11 (age 70) | $240,000 |
| Year 16 (age 75) | $300,000 |
| Year 21 (age 80) | $360,000 |
Income base growth is 10% simple interest on the bonus-adjusted base of $120,000 ($12,000 per year). Growth is guaranteed and does not depend on index performance. From year 11 onward, the roll-up rate drops to 5% ($6,000 per year).
Option 2 – Index Performance Booster
Option 2 provides a 15% income base bonus plus an 8% simple roll-up in years 1-10 (4% in years 11-20), plus 200% of any index interest credits added to the income base. In years when the index performs well, Option 2 can significantly outpace Option 1’s guaranteed growth.
| Year | Option 2 Income Base (Guaranteed Floor, $100K) | If BNPIMAD5 Credits 8.69% – Add to Base |
|---|---|---|
| Issue | $115,000 (15% bonus) | – |
| Year 1 | $124,200 (+ $9,200 rollup) | + $20,010 credit bonus = $144,210 |
| Year 5 | $161,000 (guaranteed floor) | Substantially higher with credits |
| Year 10 | $207,000 (guaranteed floor) | Substantially higher with credits |
Option 2’s guaranteed floor is lower than Option 1, but in years with meaningful index credits, the 200% credit multiplier can push the income base significantly higher. In a flat or negative market, Option 1 is better. In a sustained positive environment, Option 2 can win by a wide margin.
Income Payment Types: Level, Earnings-Indexed, and Inflation-Adjusted
Both Option 1 and Option 2 allow you to choose from three payment types when you activate income. This choice is made at activation, not at purchase:
- Level Income – Annual income payment is fixed and does not change. Provides the highest initial payment. Best choice if you believe inflation will remain low or want maximum income certainty from day one.
- Earnings-Indexed Income – Annual payment can increase based on index credits. If the index earns above a threshold, your income grows. Payments can also remain flat (they cannot decrease). Best choice for buyers who want upside potential while maintaining a guaranteed floor.
- Inflation-Adjusted Income – Annual payment adjusts based on a defined inflation measure. Designed specifically to help income keep pace with rising costs over a long retirement. Best choice for buyers in their early 60s with potentially 25-30+ years of income ahead.
The key advantage unique to Athene’s design: If you select Earnings-Indexed or Inflation-Adjusted income, you can continue receiving payment increases even after your account value reaches zero from ongoing withdrawals and rider fees. This is not available in most FIA income riders. It directly addresses one of the core retirement income risks: outliving the growth that funds your income raises.
Index Crediting Options
The Ascent Pro 10 offers uncapped index crediting strategies – a significant differentiator from many 10-year FIAs that use cap-based structures. Uncapped strategies with participation rates allow you to capture a percentage of the index’s full return rather than being limited to a ceiling.
| Index | Crediting Method | Recent 10-Year Annualized Return |
|---|---|---|
| BNP Paribas Multi-Asset Diversified 5 (BNPIMAD5) | Annual PTP with Participation Rate (uncapped) | 8.69% (at 100% participation) |
| Nasdaq FC Index (BOFANFCC) | Annual PTP with Participation Rate (uncapped) | Varies – contact for current rates |
| AiPex (AI-Powered US Equity Index) | Annual PTP with Participation Rate (uncapped) | Backtested only – no 10-yr live history |
| S&P 500 | Annual PTP with Cap or Participation Rate | Varies by cap/participation rate set |
The BNPIMAD5 is the most data-credible option in this lineup. It has live performance history since 2012 and posted 14.28% inside the Athene Performance Elite 7 in 2025. An 8.69% annualized return over the most recent 10-year period at a 100% participation rate would have generated meaningful income base growth under Option 2 on top of the guaranteed 8% simple roll-up.
The AiPex index is newer with limited live history. It uses AI-driven signals to allocate between U.S. equities and cash, targeting reduced volatility. Its illustrated returns are primarily backtested. Treat illustrated performance on AiPex with appropriate caution until it builds a multi-year live track record.
Surrender Charge Schedule
| Contract Year | Surrender Charge |
|---|---|
| Year 1 | 9% |
| Year 2 | 9% |
| Year 3 | 8% |
| Year 4 | 7% |
| Year 5 | 6% |
| Year 6 | 5% |
| Year 7 | 4% |
| Year 8 | 3% |
| Year 9 | 2% |
| Year 10 | 1% |
| Year 11+ | 0% |
The 10-year surrender period is long. At age 65, a full 10-year commitment means you are 75 before you have unrestricted access to your full account value. The 10% annual free withdrawal provision and the nursing care/terminal illness waivers reduce this risk, but they do not eliminate the liquidity constraint. For clients who may need large lump sums before age 75, a shorter-term product is a better fit.
The Renewal Rate Bailout Waiver is worth understanding. If Athene ever resets your credited interest rates below a contractual floor, you can surrender the contract without surrender charges. This is a meaningful protection against rate erosion over a 10-year period that many FIA buyers overlook when reviewing the terms.
Waivers: What Is Waived and When
- Nursing Home Confinement – After Year 1, if you are confined to a nursing facility for at least 90 consecutive days, surrender charges are waived. Additionally, the Enhanced Lifetime Withdrawal provision doubles your annual income payment while you are in confinement – one of the more generous nursing care provisions in the income FIA market.
- Terminal Illness – After Year 1, a terminal illness diagnosis (prognosis typically 12 months or less) waives surrender charges and provides full account access.
- Renewal Rate Bailout – If renewal rates fall below the contractual floor, you may surrender penalty-free during the window following the rate announcement.
Athene Ascent Pro 10 Pros and Cons
| Pros | Cons |
|---|---|
| Increasing income that continues even after account value is depleted | 1.00% rider fee is mandatory – you pay it whether you use income or not |
| 20% income base bonus (Option 1) is one of the highest upfront bonuses available | 10-year surrender period requires serious long-term commitment |
| Choice of income type deferred until activation – maximum flexibility | Income base bonus is applied to the benefit base only, not the withdrawable account value |
| Uncapped index strategies allow full participation above any ceiling | BNPIMAD5 and Nasdaq FC can credit 0% in high-volatility years |
| Nursing care doubles your annual income – rare provision | AiPex is primarily backtested – limited live performance data |
| Athene is rated A (Excellent) and is the #1 FIA provider in the U.S. by sales volume | Does not typically produce the highest guaranteed level income compared to simpler roll-up products |
| Renewal Rate Bailout protects against rate erosion over the 10-year period | Single premium only – no additional deposits after issue |
Who Is the Athene Ascent Pro 10 Best For?
The Ascent Pro 10 is the strongest fit for a client who:
- Wants guaranteed lifetime income that can increase over time – not just a flat payment for 20-30 years
- Is concerned about inflation eroding purchasing power in retirement and wants an income option specifically designed to address it
- Values flexibility in choosing the income payment type – wants to wait and see how their retirement unfolds before locking in Level vs. Increasing income
- Is attracted to Athene’s uncapped index options and wants the income base to potentially grow faster than the guaranteed floor in strong market years (Option 2)
- Is at least 5-10 years from income activation and wants the income base to compound fully through the roll-up period
It is a poor fit for clients who want accumulation only (mandatory 1.00% rider fee makes it expensive for pure accumulation), who need the absolute highest guaranteed level income payment (simpler products like North American Income Pay Pro 10 or Corebridge Power 10 Protector may produce higher level income), or who may need large withdrawals before year 11.
How the Ascent Pro 10 Compares to Other Athene Products
Within Athene’s lineup, the Ascent Pro 10 is the income vehicle. The Athene Performance Elite 7 is the accumulation vehicle – no mandatory rider, higher participation rates, shorter surrender period. The Athene Agility 10 sits in the middle, offering both a built-in income rider and competitive accumulation caps over a 10-year period, at a lower 0.70% rider fee than the Ascent Pro but with a smaller upfront income bonus.
If income is the primary objective and you want the most complete income protection Athene offers – including the increasing income feature, the nursing care doubler, and the 20% bonus – the Ascent Pro 10 is the right product in the lineup.
Frequently Asked Questions
What is the Athene Ascent Pro 10 income base bonus?
Option 1 applies a 20% bonus to your income base at issue. On a $100,000 premium, your income base starts at $120,000. The bonus applies to the income base only – your withdrawable account value starts at $100,000. From the $120,000 base, the income grows at 10% simple interest per year for the first 10 years, adding $12,000 per year to your income base guaranteed, regardless of index performance.
Can my income payments increase after my account value reaches zero?
Yes, if you selected Earnings-Indexed or Inflation-Adjusted income under Option 1 or Option 2. Once income begins, Athene continues applying the increase mechanism to your payment even after the account value has been fully depleted by withdrawals and rider fees. This is one of the key differentiators of the Ascent Pro 10 from competitors whose increasing income stops when the account value hits zero.
Is the 1.00% rider fee avoidable?
No. The Ascent Income Rider is automatically included in every Ascent Pro 10 contract. The 1.00% annual fee is charged against the benefit base regardless of whether you ever activate income. If you are not certain you want lifetime income from this product, consider a fee-free accumulation FIA instead.
What is the difference between Option 1 and Option 2?
Option 1 provides a higher guaranteed income base bonus (20% vs. 15%) and a higher guaranteed roll-up rate (10% vs. 8% simple). It is the safer choice because your income base grows faster regardless of market performance. Option 2 provides a lower guaranteed floor but adds 200% of any index interest credits to your income base – meaning in years with strong index performance, Option 2 can grow the income base significantly faster than Option 1. Option 2 outperforms in strong markets; Option 1 outperforms in flat or weak markets.
What happens to the nursing care benefit if I am still in confinement after income begins?
The Enhanced Lifetime Withdrawal provision doubles your Maximum Annual Withdrawal amount during nursing home confinement, regardless of whether you have already started income. If your annual guaranteed income is $12,000, Athene will pay $24,000 per year while you are confined. The doubling applies as long as confinement continues, subject to the contract terms in your state.
Product features, rates, and rider terms are subject to change. This review is based on Athene product materials current as of 2026. Athene Annuity and Life Company issues this product. Annuities are not bank deposits, not FDIC insured, and not guaranteed by any federal government agency. Contact a licensed agent for a current illustration with projected income amounts specific to your age, premium, and state.
