Is the Athene Performance Elite 7 a Good Annuity?
The Athene Performance Elite 7 is a 7-year fixed index annuity issued by Athene Annuity and Life Company, designed for safe accumulation. If your goal is lifetime income, see our Athene Agility 10 or Athene Ascent Pro 10 Bonus review instead. The verdict: a 9.75% S&P 500 cap and no base fee, but six of its seven indices are proprietary with partly simulated records.
- Best for: accumulation money and IRA rollovers you won’t touch for 7 years.
- Not for: buyers who need lifetime income or a guaranteed result.
Athene Performance Elite 7 at a Glance
| Feature | Details |
|---|---|
| Purpose | Safe accumulation (no income rider) |
| Carrier | Athene Annuity and Life Company (AM Best A+, S&P A+, Fitch A+, Moody’s A1) |
| Surrender schedule | 9% / 8.8% / 7.9% / 6.9% / 5.9% / 5% / 4%, then 0% |
| Market value adjustment | Yes, during the surrender period (how an MVA works) |
| Premium | $10,000 minimum, $2,000,000 maximum without home office approval |
| Issue ages | 0 to 83 (owner and annuitant) |
| Free withdrawal | 10% of accumulated value per year from year 1; RMDs count toward it |
| Waivers | Confinement (60+ days) and terminal illness, after year 1 |
| Death benefit | Greater of accumulated value or guaranteed minimum, no surrender charge |
| Guaranteed minimum value | 87.5% of premium, growing at 1.9% per year |
| Bonus / income rider | None / None |
| Optional rider | Performance Elite 7 Plus liquidity rider, 0.95% per year |
| Illustration basis | Live illustration October 9, 2026: male, 60, $100,000 non-qualified |
Full details are in the official Athene Performance Elite brochure.
What Does the Athene Performance Elite 7 Pay?
| Index | 1-yr, no fee | 1-yr, 1.25% fee | 2-yr, no fee | Backtest, 1-yr no fee |
|---|---|---|---|---|
| S&P 500 (cap) | 9.75% | 12.75% | n/a | 7.71% |
| Nasdaq FC | 130% | 160% | 200% | 12.55% |
| BNP Paribas MAD 5 | 220% | 270% | 300% | 9.78% |
| UBS Innovative Balanced | 160% | 195% | 215% | 12.19% |
| S&P 500 FC (0.50% decrement) | 100% | 123% | 137% | 11.72% |
| AI Powered Global Opportunities | 155% | 190% | 210% | 16.77% |
| AI Powered US Equity | 170% | 210% | 225% | 6.35% |
| 1-year fixed account | 4.85% (0.25% minimum on renewal) | |||
Athene rate sheet via Annuities Genius, October 9, 2026. Backtest = 10-year average at today’s rates; hypothetical. Rates vary by state.
What stands out:
- S&P 500 9.75% cap: the only index with no simulated years, and competitive for a 7-year FIA.
- 1.25% fee strategies beat no-fee after the fee in backtests (Nasdaq FC +1.46 points), and Athene refunds net fees at year 7.
- Participation rate isn’t return: the 2-year BNP at 300% backtested lower (10.17%) than Nasdaq FC at 200% (14.36%).
Compare them with current fixed index annuity rates from other carriers.
Hypothetical Historical Rate of Return
Our illustration split the premium 50/50 between 1-year Nasdaq FC and BNP Paribas, no fee, with today’s rates applied to 2016 through 2025.
| Year | Hypothetical value | Cash surrender value | Guaranteed cash value |
|---|---|---|---|
| 1 | $106,790 | $98,079 | $91,900 |
| 7 | $222,397 | $214,391 | $99,822 |
| 10 | $290,221 | $290,221 | $105,621 |
- Backtest caveat: Nasdaq FC launched in 2020, so four of these ten years are simulated for that half.
- Zero years held flat: 0% credits in 2018 and 2022, with no loss.
- Our planning range is 4% to 7% a year. Participation rates reset each term and rarely stay this high.
- MYGA benchmark: At today's top 7-year rate of 7.10% (simple interest), $100,000 grows to about $149,700 over 7 years, a gain of $49,700. See 7-year MYGA rates or run your own numbers in the fixed annuity calculator.
Get your Athene Performance Elite 7 illustration for your age and state
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Athene Performance Elite 7 Strengths and Red Flags
What it does well
- No base contract fee, with a 0% floor in every crediting period.
- High participation: 130% Nasdaq FC and 220% BNP Paribas with no fee.
- Seven years, with 10% free withdrawals starting in year 1.
Red flags
- Proprietary-heavy menu: six of seven indices are proprietary or volatility-controlled.
- Simulated history: AI Powered Global Opportunities joined in August 2023 and charges 0.85% inside the index.
- 87.5% floor: guaranteed cash value stays below premium until year 8.
- MVA applies to surrenders and excess withdrawals during years 1 to 7.
- Rates aren’t guaranteed; Athene can change them at every index term.
Performance Elite 7 vs Performance Elite 10
| Performance Elite 7 | Performance Elite 10 | |
|---|---|---|
| Premium bonus | None | 20%, vests over 10 years |
| 1-year Nasdaq FC / BNP Paribas | 130% / 220% | 77% / 130% |
| S&P 500 cap / fixed account | 9.75% / 4.85% | 5.5% / 2.9% |
| Illustrated cash value, year 10 | $290,221 | $225,461 |
| Guaranteed cash value, year 10 | $105,621 | $117,245 |
The 7 wins when credits average above about 4.6% a year; the 10’s bonus wins below that. See our Athene Performance Elite 10 review.
Final verdict: the Athene Performance Elite 7 is built for safe accumulation. It earns our 4.5 rating for growth money you can leave alone for seven years. For lifetime income, consider the Athene Agility 10 or Athene Ascent Pro 10 Bonus.
Compare live rates on 137 fixed index annuities or visit our annuity review database.
Frequently Asked Questions
What is the minimum investment for the Athene Performance Elite 7?
$10,000, qualified or non-qualified, single premium only.
Can I add an income rider to the Athene Performance Elite 7?
No. It is built for accumulation. The Athene Agility 10 pairs with income riders.
What happens if the index returns 0%?
Your value stays flat for that period and you lose nothing. A fee strategy still deducts 1.25%, refunded at year 7 if fees exceed credits.
Is Athene a good annuity company?
Athene is rated A+ by AM Best, S&P and Fitch, and A1 by Moody’s. See our Athene company review.
Other Athene Reviews
Sources: Athene Performance Elite brochure (04/22/26); Athene rate sheet and illustration via Annuities Genius, October 9, 2026; Athene index announcement (August 2023); BNP Paribas; NAIC Consumer Information Source.
This review is for educational purposes only and is not a recommendation or an offer to sell any annuity. Product features, index options, and rates can and do vary by state, and this product is not available for sale in every state. Always request a carrier illustration and work with a licensed annuity agent before you buy.
