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Fixed Indexed Annuity

Athene Aviator 5

Athene Annuity and Life Company

9.5%

Best Cap

10%

Free W/D

49

Jurisdictions

Product data status: May 29, 2026

Rates, state availability, rider terms, and contract language must be confirmed with a licensed financial advisor or insurance professional before purchase. Guarantees are backed by the issuing insurer.

Live product data

Rates as of May 29, 2026, based on the latest AdvisorWorld scan of CANNEX data.

S&P 500 annual point-to-point cap

9.5% cap on S&P 500

An accumulation-focused fixed indexed annuity from an A+-rated carrier with an unusually short five-year surrender for the category, built around a recognizable S&P 500 annual point-to-point cap plus a wide participation-rate menu across three proprietary FC 7 indexes at three crediting terms.

1-year termAdvisorWorld + CANNEX data

Best fit

Accumulation-focused buyers who want index-linked growth from a top-rated carrier but are not willing to commit to the seven- to ten-year lockup that most FIAs require, and who want both a recognizable S&P 500 cap and a broad participation-rate menu inside the same five-year contract.

AM Best

A+ Superior

Surrender period

5 years

Free withdrawal

10%/yr

Availability

49 jurisdictions (excl. California, New York)

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

9.5% cap rate

Rate varies by premium band.

S&P 500

S&P 500 Index

68% participation rate

Rate varies by premium band.

Fixed Account

Fixed Account

3.9% declared rate

Rate varies by premium band.

Fixed Account

Fixed Account

120% participation rate

Rate varies by premium band.

Fixed Account

Fixed Account

165% participation rate

Rate varies by premium band.

Fixed Account

Fixed Account

275% participation rate

Rate varies by premium band.

+ 9 volatility-controlled index options (VT, Invesco QQQ, BofA Multi-Asset...)

Product analyst notes

How to think about this contract

Why it can stand out

  • Five-year surrender lockup is unusually short for a fixed indexed annuity — most FIAs on this site run seven to ten years. A buyer who wants index exposure but is not willing to commit a decade has a genuinely shorter path to full liquidity here.
  • Carrier strength is at the top of the scale for this category: Athene is rated A+ by A.M. Best, one notch above the A-rated carriers that dominate the FIA market on this site.
  • Crediting menu includes a recognizable S&P 500 annual point-to-point cap, so a buyer has at least one like-for-like comparison point against other FIAs rather than only proprietary participation strategies.
  • Participation-rate menu spans three proprietary FC 7 indexes (S&P 500 FC 7, Invesco QQQ FC 7, BofA Multi-Asset FC 7) at three crediting terms each (1-year, 2-year, 5-year), so a buyer who prefers participation-rate exposure has nine distinct combinations to weigh inside one contract.
  • Nursing-home and terminal-illness surrender waivers are both present, and the annual free-withdrawal allowance plus the full surrender ladder are visible directly on this page rather than gated behind a sales brochure.

What to confirm

  • There is no income rider on this contract — the API returns no income strategies and no GLWB. This is a pure accumulation product; a buyer who wants a contractually guaranteed lifetime withdrawal rate should look at a different filing, not at this page.
  • Most of the index options are proprietary volatility-controlled FC 7 indexes with shorter live-track histories than the S&P 500 itself. Their participation rates can look high in absolute terms but are not directly comparable to an S&P 500 cap — evaluate each index on its own merits before reading the participation number.
  • The longer-term participation strategies (2-year and 5-year crediting) only credit interest at the end of the term, not annually. A buyer comparing those participation rates to an annual S&P 500 cap should annualize the longer-term figure before treating them as equivalent.
  • Death benefit pays cash surrender value, not account value or a rolled-up income base — heirs receive what a buyer would receive on a non-penalty surrender, which can be materially lower than an account-value-based death benefit on a competing contract.
  • A market-value adjustment applies on amounts above the free-withdrawal allowance during the five-year surrender period. Even with the shorter lockup, early partial surrenders carry interest-rate sensitivity — confirm with the carrier how the MVA is computed before any planned partial surrender.

Not ideal for

Buyers who need a contractually guaranteed lifetime withdrawal rate from an income rider, want a plain MYGA-style declared rate with no index logic, need an account-value-based death benefit, or expect to take large partial surrenders inside the surrender period without market-value-adjustment exposure.

All crediting strategies

View rate listings (30 rows)

These are the current crediting strategy listings returned for this product. Use the filters to narrow by index, term, premium band, or rate type.

Par: 120% · 1-yr

S&P 500 FC 7% VT TCA 0.50% Decrement Index (ER)(USD)

participation

5-yr surrender$100,000+

Par: 120% · 1-yr

Invesco QQQ FC 7 Index

participation

5-yr surrender$100,000+

Par: 120% · 1-yr

BofA Multi-Asset FC 7 Index

participation

5-yr surrender$100,000+

Par: 120% · 1-yr

Fixed Account

unknown

5-yr surrender$100,000+

Cap: 9.5% · 1-yr

S&P 500 Index

cap

5-yr surrender$100,000+

Fixed: 3.9% · 1-yr

Fixed Account

fixed

5-yr surrender$100,000+

Par: 165% · 2-yr

S&P 500 FC 7% VT TCA 0.50% Decrement Index (ER)(USD)

participation

5-yr surrender$100,000+

Par: 165% · 2-yr

Invesco QQQ FC 7 Index

participation

5-yr surrender$100,000+

Par: 165% · 2-yr

BofA Multi-Asset FC 7 Index

participation

5-yr surrender$100,000+

Par: 165% · 2-yr

Fixed Account

unknown

5-yr surrender$100,000+

Par: 275% · 5-yr

S&P 500 FC 7% VT TCA 0.50% Decrement Index (ER)(USD)

participation

5-yr surrender$100,000+

Par: 275% · 5-yr

Invesco QQQ FC 7 Index

participation

5-yr surrender$100,000+

Par: 275% · 5-yr

BofA Multi-Asset FC 7 Index

participation

5-yr surrender$100,000+

Par: 275% · 5-yr

Fixed Account

unknown

5-yr surrender$100,000+

Par: 68% · 5-yr

S&P 500 Index

participation

5-yr surrender$100,000+

Par: 120% · 1-yr

S&P 500 FC 7% VT TCA 0.50% Decrement Index (ER)(USD)

$100,000+

Par: 120% · 1-yr

Invesco QQQ FC 7 Index

$100,000+

Par: 120% · 1-yr

BofA Multi-Asset FC 7 Index

$100,000+

Par: 120% · 1-yr

Fixed Account

$100,000+

Cap: 9.5% · 1-yr

S&P 500 Index

$100,000+

Fixed: 3.9% · 1-yr

Fixed Account

$100,000+

Par: 165% · 2-yr

S&P 500 FC 7% VT TCA 0.50% Decrement Index (ER)(USD)

$100,000+

Par: 165% · 2-yr

Invesco QQQ FC 7 Index

$100,000+

Par: 165% · 2-yr

BofA Multi-Asset FC 7 Index

$100,000+

Par: 165% · 2-yr

Fixed Account

$100,000+

Par: 275% · 5-yr

S&P 500 FC 7% VT TCA 0.50% Decrement Index (ER)(USD)

$100,000+

Par: 275% · 5-yr

Invesco QQQ FC 7 Index

$100,000+

Par: 275% · 5-yr

BofA Multi-Asset FC 7 Index

$100,000+

Par: 275% · 5-yr

Fixed Account

$100,000+

Par: 68% · 5-yr

S&P 500 Index

$100,000+

Income riders

Accumulation-focused — no income rider

This contract is designed for tax-deferred accumulation, not guaranteed lifetime income. No GLWB rider was returned because none is part of the contract design — compare against other accumulation FIAs on cap, participation rate, and surrender terms rather than lifetime income.

Key Features

Free withdrawal

10%/yr

Annual amount that may be available without surrender charges, subject to contract terms.

Surrender waivers

2

Nursing home waiver, Terminal illness waiver

Death benefit

Standard Death Benefit

Beneficiary value depends on contract terms, withdrawals, and rider elections.

Strategy guarantee

Minimum guaranteed cap: 0.50%

Strategy guarantee

Guaranteed minimum interest rate (fixed): 1.00%

Strategy guarantee

Minimum guaranteed participation: 1.00%

Annuitization options

Single and joint

Contract conversion options should be confirmed before purchase.

Fund types

Non-qualified, Qualified

Availability can vary by state and product terms.

Surrender schedule

Yr 1

9%

Yr 2

8%

Yr 3

7%

Yr 4

6%

Yr 5

5%

After

0%

Nursing home waiver, Terminal illness waiver, Surrender waivers

Documents

Carrier documents not available for this product

Brochures, product guides, or contract disclosures were not returned for this product on this request. Request the state-specific brochure or specimen contract from the carrier before purchase.

Carrier Ratings

AM BestA+
S&PA+
Moody'sA1
S&PA+

Contract notes from product data

Crediting design

How the interest-crediting choices are framed

Athene Aviator 5 currently shows 12 distinct indexed or fixed crediting choices across 24 current rate listings, including S&P 500 Index and Fixed Account, with 9 volatility-controlled index options grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, and renewal terms are different mechanics and should not be ranked as one simple rate list.

  • S&P 500 Index: 9.5% cap
  • S&P 500 Index: 68% participation
  • Fixed Account: 3.9% fixed

Liquidity terms

Why access rules deserve as much attention as rates

A fixed indexed annuity can preserve more control than an income-only contract, but access is still governed by the surrender schedule, free-withdrawal terms, and waiver language. Those details are where many product comparisons become more meaningful than a simple rate list.

  • 10%/yr free withdrawal
  • 5 surrender years
  • Nursing home waiver
  • Terminal illness waiver

Verification note

Use carrier materials as term evidence, then confirm the current version

This page uses the current structured product data returned for the contract. For the current brochure, rate sheet, or specimen contract, confirm the state-specific version with the carrier or a licensed financial professional.

  • Rates and rider terms can vary by state and issue age
  • Carrier guarantees depend on claims-paying ability
  • Current contract forms should be confirmed before purchase

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