Athene AccuMax Annuity Review

Athene AccuMax Annuity Review Picture of Hourglass with white sand sitting next to glass jar with American Cash in it

Athene AccuMax Annuity Review

The Athene Accumax is a fixed index annuity designed to provide more upside accumulation potential and downside protection from market volatility. The AccuMax offers 3 index options (2 of which are proprietary), 3 crediting methods, and two-term lengths to choose from.

Athene Life and Annuity Company are coming off a huge win having taken over as the #1 Seller of Individual Fixed Index Annuities in the United States in 2020. Their rise to the top wasn’t an easy one as they have been nipping at the toes of long-term market leader Allianz Life for the better half of a decade.  Allianz saw their sales decrease 40% off of their 2019 numbers but remained in the #2 overall spot. 

It now appears that Athene is positioned to further their grip as the industry’s leading provider of fixed index annuities with the launch of Athene AccuMax Index Annuity on March 29, 2021. A sluggish year for annuity sales, 2020 taught us that consumers want accumulation products that provide upside potential and downside protection from a potential market downturn. I’d attribute much of Allianz Life’s demise in 2020 to their like of a solid accumulation product and they’ll have plenty of catching up to do with after the launch of Athene’s new AccuMax Annuity.

Is Athene a Good Annuity Company?

Athene annuity logo

Athene was the #1 Seller of Individual Fixed Index Annuities in 2020 and is rated A by AM Best. The table also shows that Athene is rated an A by Fitch and Standard and Poor’s which in my opinion indicates very strongly they are a financially secure insurer.

Athene Financial RatingsRating
7700 Mills Civic Parkway, West Des Moines, IA 50266
A.M. Best Rating (15 possible ratings)A (3)
Fitch Ratings (21 possible)A (6)
Comdex (percentile of all rating companies)78
Standard & Poor's (20 possible ratings)A (6)

In addition to considering the financial strength of a prospective insurance company I also give a lot of merit to how committed an insurance company is to the annuity market space when considering one of their products. I prefer to work with insurance companies that have a long, well-established track record in the annuity business.

Your account value can never lose value in an Indexed Annuity due to market volatility which in my opinion is the key differentiating feature of an index annuity.  With that said an annuity’s guarantee is backed by the claims-paying ability of the insurance company that issued it. As such, I place a lot of emphasis on the financial strength of the annuity company when reviewing their products or assisting any of our clients in the annuity shopping process. 

In this case, I am very confident in the financial strength of Athene and this Athene AccuMax Annuity Review will be based solely on its own merit.

Right or wrong, I also place a lot of merit in how committed an annuity company is to the marketplace when evaluating its annuity solutions. Perhaps I am old school but I prefer to work with insurance companies with a long, well-established track record in the annuity business. Athene checks all of these boxes off for me rather quickly so… Without further ado lest dive into the Athene AccuMax Annuity Review.

Athene AccuMax Annuity Reviewed

The Athene AccuMax Annuity is hot off of the shelf at less than just a week old at the time this was written. It is an accumulation-focused fixed indexed annuity designed to simplify a safe and secure path towards a financially secure retirement. As an accumulation-focused annuity, AccuMax is smartly positioned with both a 5 year and a 7-year version available. 

As far as I am concerned the launch of the Athene AccuMax brings the most innovation to the index annuity market since Allianz Life Launched the Allianz 360 with the uncapped Barclays Universal Dynamic Index nearly a decade ago. I’ll dig a little deeper into the weeds momentarily and provide you with the reasonable rate of return you may expect the AccuMax to generate using Hypothetical Backtesting Annuity Calculators but first I’ll quickly hit on some of the key bullets highlights.

Athene AccuMax Key Features


Potential for meaningful growth, even in volatile markets. Option to choose a crediting period of 7 years, allowing for higher participation in potential index gains, even in a persistent low-rate environment.


Choose your crediting strategy allocation with confidence, knowing that rates won’t change over the Withdrawal Charge Period. Penalty-free access to a portion of your money for life’s unexpected moments.


  • Multi-Year Crediting Strategies
  • Growth potential
  • Protection From Loss
  • Participate in More of the Market Upside

7 Year Point to Point Crediting Strategy

The new 7-year point-to-point crediting strategy is likely to be one of those “love it or hate it” features; personally, I am a fan. If you have owned an index annuity or shopped for them in the past you are likely familiar with the typical annual point to point crediting method. In order to provide an opportunity for more upside potential, Athene included a 7-year point-to-point crediting method in the AccuMax.

This strategy compares only two points in time to determine the performance; however, the two points compared are 7 years apart rather than the usual one year. I can see where many would not like the idea of waiting 7 years to see if they are going to be credited any interest; my professional advice is to give the 7-year option real consideration for at least a portion of your account should you decide to purchase the AccuMax. 

We get into the actual backtested performance in more detail below but in every scenario simulated going back to 12/31/2020 the 7-year point to point delivers superior results. Athene accumax 7 year point to point chart

Available Market Indexes

Put your retirement savings to work with Athene AccuMax’s indexed crediting strategies.

AI Powered Multi-Asset Index Ticker Symbol: AIMAX

Artificial intelligence (AI) helps turn data into investment insight.
This rules-based global multi-asset index uses AI techniques to analyze millions of data points daily. Based on this analysis, AiMAX evaluates each asset, finds those whose prices are poised for growth, and rebalances its portfolio weekly. Targets a 5% daily volatility to help provide smoother returns.*

Crediting Strategies: 7-Year Point-to-Point (Participation Rate) 1-Year Point-to-Point (Participation Rate)

Shiller Barclays CAPE® Allocator 6 Index Ticker Symbol: BXIISC6E

Provides stabilized exposure to U.S. equity sectors based on long-term investment principles.
The BXIISC6E index aims to provide exposure to U.S. equity sectors that appear to be undervalued according to their Cyclically Adjusted Prices to Earnings (CAPE®) ratio and a basket of U.S. Treasuries. Targets a 6% daily volatility to help provide smoother returns.

Crediting strategy: 7-Year Point-to-Point (Participation Rate) 1-Year Point-to-Point (Participation Rate)

S&P 500® Ticker Symbol: SPX

The benchmark index of large-cap U.S. equities from a top global resource of indexed-based concepts.
Widely regarded as the best single gauge of large-cap U.S. equities, the S&P 500® captures approximately 80% of available market capitalization.

Crediting strategies: 7-Year Point-to-Point (Participation Rate) 7-Year Annual Interval Sum (Participation Rate)

Athene AccuMax Annuity Hypothetical Historical Performance

The hypothetical examples in the table below show the annualized return of the Athene AccuMax 7 annuity assuming a contract was held for a continuous period of 7 years during various historical market time periods. The examples reflect the best, average, worst, and minimum guaranteed average annual return for the product. 

Although the product was not actually available during these time periods shown, the average annual returns shown below reflect how the product would have performed had it been available. All fixed and indexed crediting strategy rates for your Withdrawal Charge Period are set and guaranteed at issue, even on 1-year strategies.

The table below lists the average annual rate of return for the Best and worst 7 year period as well as the average from 12/31/2005  to 12/31/2020. As you may notice, the 7-year point-to-point option provides the greatest upside and highest average for all three of the indexes. My recommendation would be to give some serious thought to allocating a portion of your account value to one or all of the 7-year options if you can handle knowing you will not be credited with interest annually.

Athene accumax hypothetical historical returns

The interest credits you receive, if any, will vary depending on market conditions, crediting strategy allocations, and limitations such as an Annual Spread, Cap Rate, Floor Rate, and/or Participation Rate. It is possible that the interest earned may be zero. After the end of the Withdrawal Charge Period, all Indexed Strategies will terminate and funds will be moved to the Fixed Strategy, with a new interest rate being declared each year. Note that Athene may add, modify or eliminate indexed strategies from time to time. A specific strategy may not be available for the life of your contract. Index strategies may not be available in all states.
Best, worst and average assume a new contract was issued each possible business day starting on 12/31/2005 and was held for 7 years, using index closing prices through 12/31/2020.
Best = The best annual return of each contract reflects the performance of the annuity during a continuous period of 10 years out of the
last 20 years where the index had the highest 10-year growth. Worst = reflects the performance of the annuity during a continuous period of 10 years out of the last 20 years where the index had the lowest 10-year growth. Average = reflects the average performance of the annuity over the last 20 years.

AccuMax Annuity Rates

Athene accumax annuity rates april, 2021

AccuMax Product Specifics

Issue Ages



(Single Premium Only)

Minimum: $10,000

Maximum: $1,000,000

(larger amounts may be accepted with company approval)

Sweep Date

The initial Fixed or Indexed Term Period will start on the 8th or 22nd day  of the month (immediately following the Contract Date), at which time the  Premium plus any applicable Holding Account interest will be allocated to  the Strategy(ies) selected.

Withdrawal Charges

9%, 8%, 7%, 6%, 5%, 4%, 3%

Free Withdrawals

Greater of 10% of Accumulated Value or 10% of Premium,  each contract year

Pros and Cons of Athene AccuMax Annuity

Athene AccuMax Pros

  • Three unique indexes to select from including the CAPE Shiller index and the AiMAX AI-Powered U.S. Equity Index.
  • A one-year point-to-point and seven-year point-to-point crediting strategy.
  • Uncapped Crediting Strategies are Available
  • Offers more upside potential than most annuities for +-
  • Your interest rate, or cap rate, is locked in for the duration of your contract so there won’t be any surprises.
  • Issued by an A-rated insurance company.
  • Not overly complicated and no fees.


  • No Income Rider available.
  • While I really like the available indexes, the AccuMax offers less choice than many of the other annuity options available. 
  • If you opt to go for a 7-year point to point crediting method you would want to avoid taking any withdrawals because interest isn’t credited until the end of the contract term.

This is an independent annuity product review, not a recommendation or solicitation to buy or sell an annuity.  Athene has not endorsed this Athene AccuMax Annuity Review in any fashion and we don’t receive any compensation for it.  Be sure to do your own due diligence, we recommend consulting with a properly licensed professional regarding any questions you may have. 

Values shown are not guaranteed unless specifically stated otherwise. Rates and annuity payout rates are subject to change. Actual values may be higher lower than the values shown. The illustration is not valid without all 18 pages and the statement of understanding. If you have any questions or concerns please contact us at (855)-583-1104 or at

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Kiara Caudill

Kiara Caudill

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Annuities are distributed by My Annuity Store, Inc. Guarantees are subject to the claims-paying ability of the insurer. My Annuity Store, Inc. does not advise clients on the purchase of non-fixed annuity products. The information presented here is not of tax or legal nature and is not intended to be a recommendation to purchase a fixed annuity, fixed index annuity, variable annuity contract, registered index-linked annuity (RILA), immediate annuity (SPIA), longevity annuity, or Qualified Longevity Annuity Contract (QLAC). 

The contract features described may not be current and may not apply in the state in which you reside. Annuities are issued by Insurance companies and contracts are ‘state-specific. Insurance companies also change their products and information often and without notice. Annuities are subject to the terms and conditions of the specific contract issued by the insurer, are not FDIC or NCUA insured, are not bank guaranteed, may lose value, and are not a deposit. Please call (855) 583-1104 if you have any questions or concerns. 

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