Athene Review 2026: Analyzing Annuity Rates & Performance

Athene earns an Expert Score of 4.0/5.0 from BestGuide, positioning it as a major force in the U.S. annuity market, particularly for its fixed index annuity products. Our analysis confirms the company’s exceptional financial strength, backed by an ‘A+’ rating from A.M. Best and its 2022 merger with Apollo Global Management, which manages over $1 trillion in assets. Athene excels in product design, offering competitive features like premium bonuses and uncapped index strategies.

However, our Athene review also finds significant weaknesses in customer satisfaction. Multiple sources, including the 2025 J.D. Power U.S. Individual Annuity Study, place Athene’s customer service below the industry average. Consumer complaints frequently mention difficulties with withdrawals and communication. These Athene reviews indicate a trade-off: you gain access to powerful products from a financially stable insurer but may encounter service challenges.

Compare Athene with other top-rated annuities companies to see how it stacks up.

How Athene Works

Athene operates primarily through a network of independent financial professionals and does not sell annuities directly to the public. To purchase an Athene annuity, you must work with a licensed agent or financial advisor who can help you select a product that aligns with your retirement goals. The process typically involves an application and funding with a lump sum, with minimum premiums often starting at $10,000.

Once funded, the annuity enters its accumulation phase. For a fixed index annuity, Athene credits interest based on the performance of a linked market index, such as the S&P 500. Your principal is protected from market downturns, meaning you cannot lose money due to index performance, but your upside potential is limited by caps, participation rates, or spreads. For a multi-year guaranteed annuity (MYGA), your funds grow at a fixed, predetermined interest rate for a set term, typically 3 to 10 years.

After a surrender period, which can last 10 years or more, you can begin taking income through various payout options, including lifetime payments. Many Athene annuities offer penalty-free withdrawal provisions, allowing you to access up to 10% of the contract’s value annually without incurring surrender charges. However, withdrawals before age 59.5 are still subject to a 10% federal tax penalty.

Who Athene Is Best For

Based on our analysis of its product catalog, Athene is best for retirement savers who are looking for growth potential linked to market indexes without direct equity risk. Investors comfortable with longer-term contracts (7-10 years) and those attracted to features like upfront premium bonuses and uncapped index strategies will find its fixed index annuity products compelling. The company’s strong financial ratings also make it suitable for conservative investors who prioritize an insurer’s ability to meet long-term obligations.

Athene is not ideal for individuals who prioritize top-tier customer service or require simple, easy-to-understand financial products. If you anticipate needing flexible access to your funds in the short term or prefer an insurer with a higher-than-average customer satisfaction rating, you should consider competitors like MassMutual or Nationwide.

Athene Standout Features

Athene distinguishes itself in a competitive market with several specific product features designed to enhance retirement savings. These elements are central to its value proposition.

Advanced Fixed Index Annuity (FIA) Products
Athene was a leading seller of fixed index annuities in the U.S. from 2020 to 2022. Products like the Athene Agility 10 are notable for including a built-in income rider at no extra charge, which can provide a predictable income stream in retirement. This product also features unique crediting strategies, such as one that offers 175% of any annual interest credited, amplifying potential gains.

Significant Premium Bonuses
Select Athene annuities offer an immediate bonus on your initial premium, which is added to the contract value. For example, the Athene Performance Elite 10 offers a premium bonus of up to 20.00% on the initial investment. This bonus is typically applied to the annuity’s benefit base for income calculation purposes and is subject to a vesting schedule.

Exceptional Financial Strength
Following its 2022 merger with Apollo Global Management, Athene’s financial stability is a key differentiator. The combined entity reports over $1 trillion in assets under management. Athene Annuity & Life Company holds an ‘A+’ (Superior) rating from A.M. Best, the second-highest of 16 ratings, indicating a superior ability to meet its ongoing insurance obligations.

Athene Pros and Cons

Is Athene Legit?

Yes, Athene is a legitimate and major life insurance and annuity provider. The company was founded in 2009 and has headquarters in West Des Moines, Iowa. As of March 31, 2026, Athene holds total assets of over $445 billion, making it one of the largest players in the retirement services industry. Its policies are sold in all 50 states.

Athene’s legitimacy is further reinforced by its high financial strength ratings from independent agencies. It holds an ‘A+’ from A.M. Best, an ‘A+’ from S&P Global, and an ‘A1’ from Moody’s. These ratings confirm the company’s strong ability to pay claims and fulfill its contractual promises to policyholders over the long term.

However, the company has faced regulatory challenges. In 2020, Athene paid $45 million to the New York Department of Financial Services to settle charges related to unlicensed pension risk transfer transactions. Additionally, the California Department of Insurance has cited the company for failing to meet service standards. While these events do not question the company’s solvency, they are important data points regarding its operational and compliance history.

Athene BestGuide Rating

Athene earns a BestGuide Expert Score of 4.0 out of 5.0. This score is the result of a comprehensive analysis by BestGuide’s expert panel, which evaluates companies across five key criteria based on our published methodology. Athene’s score places it above average but behind the top-tier providers in the annuity space.

The score reflects a company with two distinct profiles. Its highest scores are in Services (90%) and Scalability (90%), driven by its expansive and innovative product portfolio and its massive financial footprint as a market leader. However, its lowest score is in Customer Satisfaction (65%), a direct reflection of its below-average J.D. Power ranking and documented consumer complaints about service and withdrawals. Reputation (85%) is strong due to financial ratings but is held back by past regulatory actions.

What this means for you: An Athene annuity is backed by a financially powerful company offering sophisticated growth engines. The primary risk identified in our rating is not financial but operational, centered on the quality of customer service you will receive over the life of a long-term contract.

Athene Cost: What You Should Expect to Pay

The cost structure of an Athene annuity is complex and varies significantly by product. Many of Athene’s fixed and fixed index annuities are advertised with no annual contract, mortality and expense, or administrative fees. This is a common structure across the industry. The company’s costs are built into the product’s design rather than charged as explicit line-item fees.

The primary costs to be aware of are surrender charges and opportunity costs. Surrender charges are penalties for withdrawing more than the allowed penalty-free amount (typically 10% per year) during the surrender period, which can be 10 years or longer. Opportunity costs come from interest rate caps, participation rates, and spreads on FIAs, which limit the amount of index-linked interest you can earn. Optional riders, such as enhanced income or death benefits, also carry an annual fee, often around 1% of the contract value.

Final Verdict: Athene Review

Athene earns an Expert Score of 4.0/5.0, cementing its status as a formidable player in the annuity market with undeniable financial strength and a highly competitive product suite. For investors focused on the accumulation potential of fixed index annuities, Athene’s offerings, with features like premium bonuses up to 20% and uncapped crediting strategies, are among the most compelling available. The company’s ‘A+’ A.M. Best rating provides a strong foundation of security for long-term retirement planning.

This positive Athene review is balanced by a significant and well-documented weakness: customer service. With a J.D. Power score of 595 out of 1,000, ranking it near the bottom of the providers in the 2025 study, and a history of regulatory fines related to service and compliance, prospective clients must weigh the product benefits against potential service frustrations. Our analysis of Athene reviews suggests that while the company is financially sound, its administrative processes can be challenging for consumers to navigate. Athene is a strong choice for the right investor, but it is not a one-size-fits-all solution.

See our full Buyers Guide for the best annuities companies before making your decision.

Frequently Asked Questions About Athene

What do experts say about Athene?
Experts, including BestGuide’s panel, rate Athene as a financially strong company with innovative products, awarding it an Expert Score of 4.0/5.0. However, analysis consistently points to its primary weakness in customer satisfaction, evidenced by its below-average score of 595 in the 2025 J.D. Power U.S. Individual Annuity Study.

Is Athene worth it in 2026?
Yes, for certain investors. Athene is worth it for those who prioritize an insurer’s financial stability (‘A+’ from A.M. Best) and want access to potentially higher returns through advanced fixed index annuity features. It is less suitable for individuals who value a seamless, high-touch customer service experience above all else.

How does Athene compare to other annuities companies?
Athene compares favorably to competitors on product features and financial strength. However, it lags behind companies like MassMutual and Nationwide, which consistently rank higher in J.D. Power’s customer satisfaction surveys. While Athene leads in fixed index annuity sales, others may offer better service or simpler products.

How strong are Athene’s financial strength ratings?
Athene’s financial strength ratings are excellent. It holds an ‘A+’ (Superior) from A.M. Best, an ‘A+’ (Strong) from S&P Global, and an ‘A1’ (Good) from Moody’s. These high ratings indicate a superior ability to meet its long-term financial obligations to policyholders.

Why are some Athene annuity returns low?
Returns on a fixed index annuity, including those from Athene, can be 0% in years when the linked market index is flat or down. While your principal is protected, gains are limited by features like participation rates (the percentage of index growth you receive) or caps (the maximum interest you can earn), which can result in modest returns even in positive market years.

What is a fixed index annuity?
A fixed index annuity is a type of deferred annuity that earns interest based on the performance of a stock market index, like the S&P 500. It offers the potential for higher returns than a traditional fixed annuity while protecting your principal from market losses, as your money is not directly invested in the market.