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Fixed Indexed Annuity

Athene Protector 7

Athene Annuity and Life Company

9.5%

Best Cap

10%

Free W/D

50

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 28, 2026, based on the latest AdvisorWorld scan of CANNEX data.

S&P 500 annual cap rate

9.5% cap on S&P 500

A seven-year-surrender fixed indexed annuity from an A+-rated carrier with no income rider, a clean fee-free strategy menu, and an unusual rate-lock option that holds the S&P 500 cap or trigger rate for the full surrender term rather than resetting annually.

1-year termAdvisorWorld + CANNEX data

Best fit

Accumulation-focused buyers committing to a seven-year deferral who want recognizable S&P 500 cap or trigger-rate exposure, value the option to lock the crediting rate for the full surrender term rather than carry annual renewal risk, and don't need a guaranteed lifetime-income rider built into the contract.

AM Best

A+ Superior

Surrender period

7 years

Free withdrawal

10%/yr

Availability

50 jurisdictions (excl. 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

100% participation rate + 7.25% declared rate

Rate varies by premium band.

S&P 500

S&P 500 Index

7.75% cap rate

Rate varies by premium band.

S&P 500

S&P 500 Index

100% participation rate + 6% declared rate

Rate varies by premium band.

Fixed Account

Fixed Account

4.8% declared rate

Rate varies by premium band.

+ 3 volatility-controlled index options (BNP Paribas, Nasdaq FC, S&P 500)

Product analyst notes

How to think about this contract

Why it can stand out

  • Carrier financial-strength is rated by four independent agencies (A.M. Best, Fitch, Moody's, and Standard & Poor's), so the strength view on this page is not a single-source read.
  • The S&P 500 annual point-to-point cap strategy is offered in two cadences on the same contract: a 1-year cap that resets annually, and a 7-year cap-rate-lock that holds the cap for the full surrender term — a buyer who wants to remove renewal-cap risk has an explicit structural option without leaving the product.
  • The S&P 500 trigger-rate strategy is also offered in both a 1-year and a 7-year-locked cadence, so the same rate-lock choice extends to buyers who prefer a fixed payout on any positive index year rather than a cap.
  • None of the index strategies on this contract carry a published strategy fee — caps and participation rates are gross numbers, not net-of-fee numbers that need a side calculation to compare.
  • Free-withdrawal allowance, the full seven-year surrender ladder, the nursing-home waiver, and the terminal-illness waiver are all visible directly on this page rather than gated behind a sales brochure.

What to confirm

  • This contract is not a guaranteed-lifetime-withdrawal product. There is no GLWB income rider attached and no Protected Income Value mechanism — the only contract-level guarantees beyond accumulation are a return-of-premium rider and a minimum-interest-credit rider. Do not compare its lifetime payout side-by-side with a rider-led income FIA.
  • Several of the participation-rate index options are proprietary, volatility-controlled, or decrement-adjusted indexes (BNP Paribas Multi Asset Diversified 5, Nasdaq FC, and an S&P 500 FC TCA decrement index). Their participation rates can look high in absolute terms but are not directly comparable to an S&P 500 cap — evaluate each strategy on its own merits and on its live-track history.
  • The guaranteed-minimum cap and declared-rate floors on this contract are very low — caps and trigger rates on the 1-year strategies can reset down toward those floors over the surrender term, and the buyer carries that renewal risk on any strategy that is not the 7-year locked variant.
  • The death benefit on this contract pays cash surrender value, with no roll-up and no step-up — heirs receive what a buyer would receive on a non-penalty surrender, which can be materially lower than an account-value or rolled-up death benefit on a competing contract.
  • Premium-band pricing applies: the published S&P 500 cap and the participation rates on this page are the rates at the upper premium band; below the band threshold the rates step down. Confirm which band a planned premium falls into before treating the headline number as the rate for a smaller-premium application.

Not ideal for

Buyers who need a contractually guaranteed lifetime withdrawal rate from a GLWB rider, want a premium bonus to offset the surrender commitment, need short-surrender liquidity inside seven years, or expect an account-value-based or rolled-up death benefit — none of those are what this contract is built to deliver.

All crediting strategies

View rate listings (16 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: 210% · 1-yr

BNP Paribas Multi Asset Diversified 5 Index

participation

7-yr surrender$100,000+

Par: 125% · 1-yr

Nasdaq FC Index

participation

7-yr surrender$100,000+

Par: 97% · 1-yr

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

participation

7-yr surrender$100,000+

Cap: 9.5% · 1-yr

S&P 500 Index

cap

7-yr surrender$100,000+

Par: 100% + Fixed: 7.25% · 1-yr

S&P 500 Index

trigger

7-yr surrender$100,000+

Fixed: 4.8% · 1-yr

Fixed Account

fixed

7-yr surrender$100,000+

Par: 100% + Fixed: 6% · 7-yr

S&P 500 Index

Trigger Rate Lock · trigger

7-yr surrender$100,000+

Cap: 7.75% · 7-yr

S&P 500 Index

Cap Rate Lock · cap

7-yr surrender$100,000+

Par: 210% · 1-yr

BNP Paribas Multi Asset Diversified 5 Index

$100,000+

Par: 125% · 1-yr

Nasdaq FC Index

$100,000+

Par: 97% · 1-yr

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

$100,000+

Cap: 9.5% · 1-yr

S&P 500 Index

$100,000+

Par: 100% + Fixed: 7.25% · 1-yr

S&P 500 Index

$100,000+

Fixed: 4.8% · 1-yr

Fixed Account

$100,000+

Par: 100% + Fixed: 6% · 7-yr

S&P 500 Index

Trigger Rate Lock

$100,000+

Cap: 7.75% · 7-yr

S&P 500 Index

Cap Rate Lock

$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

Death Benefit - CV

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

Strategy guarantee

Minimum guaranteed cap: 0.50%

Strategy guarantee

Minimum guaranteed declared rate: 0.25%

Strategy guarantee

Guaranteed minimum interest rate (fixed): 0.25%

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

8%

Yr 2

8%

Yr 3

7%

Yr 4

6%

Yr 5

5%

Yr 6

3.9%

Yr 7

2.7%

After

0%

Nursing home waiver, Terminal illness waiver, Surrender waivers

Documents

brochure

Athene - Protector 7 Fixed Indexed Annuity - Brochure (42000).pdf

Confidence: highReviewed Apr 2, 2026

Direct link not published — request the document from the carrier.

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 Protector 7 currently shows 8 distinct indexed or fixed crediting choices across 16 current rate listings, including S&P 500 Index and S&P 500 FC TCA 0.50% Decrement Index (USD) ER, with 2 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: 100% participation
  • S&P 500 FC TCA 0.50% Decrement Index (USD) ER: 97% participation

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
  • 7 surrender years
  • Nursing home waiver
  • Terminal illness waiver

Verification note

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

Carrier materials such as Athene - Protector 7 Fixed Indexed Annuity - Brochure (42000).pdf help explain the contract language behind the data on this page; the latest document activity we see is Apr 7, 2026. 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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