Confidential Review Library · Athene Annuity & Life Company
Athene MaxRate review
Multi-year guaranteed annuity (MYGA)
Athene MaxRate is a multi-year fixed annuity that credits a declared rate for a set term. There is no index, no rider, and no benefit base — which makes it one of the simplest contracts to review. The whole position turns on the rate, the term, and the renewal decision.
Last updated 2026-08-03
The five pillars
Cost
No explicit ongoing charge
MYGA contracts of this type carry no annual rider charge. The economics are transparent: the carrier credits a declared rate for the term and keeps the spread. This is the pillar where simple contracts usually score well.
Surrender
Charge schedule matches the rate term
The surrender charge period is normally aligned to the guarantee term. Withdrawing before the term ends can also trigger a market value adjustment, which can move in either direction with interest rates.
Riders
None to review
There is no income rider and no benefit base. That absence is a feature for owners who wanted a straightforward place to hold money for a defined period.
Rate
The entire proposition
Because everything else is simple, the review reduces to whether the credited rate remains competitive for the remaining term, and what the renewal rate looks like at maturity. Renewal rates are frequently much lower than initial rates.
Fit
Fits a defined holding period
Appropriate for money with a known time horizon that matches the term. Poorly suited to income planning, since there is no lifetime withdrawal mechanic in the contract.
What to watch on your own contract
- —The exact maturity date and the renewal window around it
- —Whether a market value adjustment applies to early withdrawals
- —The renewal rate offered at term end versus current market rates
- —Whether a 1035 exchange at maturity would preserve tax deferral
Questions owners ask
- What happens when a MYGA term ends?
- Most contracts enter a short window in which the owner can withdraw, renew, or complete a 1035 exchange without a surrender charge. Missing that window often means auto-renewal at the carrier's declared renewal rate.
- Is a market value adjustment a penalty?
- No. It is an interest-rate adjustment that can increase or decrease the amount paid on an early withdrawal, depending on how rates have moved since issue.
About the carrier
Athene is a high-volume Iowa-domiciled issuer of fixed indexed and multi-year guaranteed annuities, affiliated with Apollo Global Management. Its MYGA contracts are among the simplest to review; its indexed contracts with built-in income benefits require reading the crediting terms as the true cost of the benefit.
Read the full Athene carrier profile and A.M. Best rating →Confidential
Score the contract you actually own
A product review describes a structure. Your Annuity Position Score™ reads your own contract against the same five pillars in about two minutes.
Get My Free ScoreMore reviews
Educational content only. AnnuityScore is not affiliated with, endorsed by, or acting on behalf of Athene Annuity & Life Company. Product names are the trademarks of their respective owners. Contract features vary by state, issue date and product version — your contract governs. Nothing on this page is a recommendation or a solicitation.