Athene MYG annuities are designed to help meet your long-term accumulation and retirement needs. They include a Withdrawal Charge period. If you withdraw more money than the free amount allowed by your contract, or if you surrender your annuity before the Withdrawal Charge period ends, a Withdrawal Charge will be applied.
Premium Limits You can purchase an Athene MYG annuity with an Initial Premium of $5,000 – $2 million. Larger amounts considered with company approval. After you purchase your annuity you can continue to add money to it. Additional premium can be added until the maturity date. For the additional premiums, there is a minimum contribution of $1,000, and the maximum 12 month contribution is $100,000. Payments can be made monthly.
Free Withdrawals Athene MYG annuities provide annual Free Withdrawal privileges beginning in the first Contract Year. Each Contract Year, you can withdraw up to 10% of your annuity’s Accumulated Value (as of the most recent Contract Anniversary) without incurring a Withdrawal Charge. Required minimum distributions (RMDs) are IRS mandatory withdrawals from tax-qualified contracts such as IRAs. With Athene MYG annuities, RMDs are considered part of your annual Free Withdrawal, even if they exceed your Free Withdrawal amount.
Market Value Adjustment During the Withdrawal Charge period, a Market Value Adjustment (MVA) will be applied to any Excess Withdrawal — in other words, the portion of a surrender or withdrawal that exceeds the Free Withdrawal amount. This adjustment is in addition to any Withdrawal Charge amount. It does not apply to Free Withdrawals, RMDs, payments made in settlement of your annuity’s Death Benefit, or to Confinement and Terminal Illness waivers.
Principal protection As long as you keep your annuity for the Withdrawal Charge period, your principal and the interest you earn are guaranteed