Family Endowment Rider Max – Grow and Protect Your Legacy

A flexible solution for Individual Retirement Account holders

Family Endowment Rider^® Max

Optional Rider

Protect Your Legacy With FER Max

Today's financial landscape looks different from a generation ago. If one of your goals is to leave behind a financial legacy, Required Minimum Distributions (RMDs)¹ could potentially disrupt your plans. Fortunately, there's a solution that helps address the impact of RMDs while guaranteeing legacy growth.

An Optimized Legacy Plan

The Family Endowment Rider^® Max (FER^TM Max), an optional rider available for an additional charge with the Athene Velocity fixed indexed annuity, provides an Enhanced Death Benefit that can help maximize your legacy planning. In addition:

8% Premium Bonus²
Enhanced Death Benefit guaranteed to grow daily at a 1% compound annual rate plus 100% of any Interest Earnings, credited every two years³
Take withdrawals and RMDs of up to 5% of the Accumulated Value and still grow your Enhanced Death Benefit⁴

All RMDs associated with the contract can be taken without additional charges, and withdrawals up to 5% of the Accumulation Value, including RMDs, reduce the Enhanced Death Benefit Value on a dollar-for-dollar basis.³ Beneficiaries receive the greatest of the Cash Surrender Value, Balanced Allocation Value or Enhanced Death Benefit value.

Planning for Guaranteed Lifetime Income

Objective: Bill and Susan recently retired and want to protect their legacy while planning for RMDs.

Solution: Bill allocates $1 million of his retirement savings to Athene Velocity with FER Max. From age 73 to 85, based on hypothetical, non guaranteed annual interest earnings, Bill takes $795,604 in RMDs. If Bill passes away at age 85, his beneficiary Susan would receive a death benefit of $1,767,798.

This is a hypothetical example to show how Athene Velocity and the FER Max can work. Your experience will differ. Past performance is no guarantee of future performance.

FER Max Consumer Brochure

The Benefit of Legacy Optimization

Hypothetical Example Based on 4.79% Annual Interest Earnings

By age 85, Bill took $795,604 in RMDs. If Bill passed away, Susan would receive a death benefit of $1,767,798. See Below

End of Year	Age	RMD Paid to Client	Total Income	Cash Surrender Value	Accumulation Value	Death Benefit⁵
1	66	$0	$0	$918,646	$1,071,500	$1,123,200
2	67	$0	$0	$999,153	$1,167,962	$1,167,962
3	68	$0	$0	$1,006,728	$1,158,398	$1,214,292
4	69	$0	$0	$1,100,919	$1,262,268	$1,262,268
5	70	$0	$0	$1,108,634	$1,251,547	$1,334,292
6	71	$0	$0	$1,212,005	$1,363,338	$1,409,263
7	72	$0	$0	$1,219,673	$1,351,359	$1,488,559
8	73	$0	$0	$1,334,258	$1,471,619	$1,569,947
9	74	$55,533	$55,533	$1,286,269	$1,405,298	$1,600,476
10	75	$55,110	$110,643	$1,359,001	$1,474,781	$1,627,904
11	76	$59,950	$170,593	$1,407,782	$1,403,753	$1,654,724
12	77	$59,400	$229,993	$1,468,288	$1,468,288	$1,678,076
13	78	$64,117	$294,110	$1,396,665	$1,392,858	$1,700,897
14	79	$63,485	$357,595	$1,451,797	$1,451,797	$1,719,847
15	80	$68,806	$426,401	$1,375,056	$1,371,540	$1,737,585
16	81	$68,072	$494,473	$1,423,435	$1,423,435	$1,750,998
17	82	$73,373	$567,846	$1,341,731	$1,338,556	$1,762,641
18	83	$72,526	$640,372	$1,382,490	$1,382,490	$1,768,400
19	84	$78,107	$718,479	$1,295,715	$1,292,947	$1,771,636
20	85	$77,126	$795,604	$1,327,671	$1,327,671	$1,767,798
21	86	$82,979	$878,584	$1,250,803	$1,248,511	$1,680,109
22	87	$82,290	$960,874	$1,289,611	$1,289,611	$1,593,144
23	88	$89,556	$1,050,430	$1,205,991	$1,204,177	$1,498,888
24	89	$88,029	$1,138,458	$1,235,156	$1,235,156	$1,406,989
25	90	$95,749	$1,234,207	$1,145,093	$1,143,815	$1,308,146
26	91	$93,860	$1,328,067	$1,162,997	$1,162,997	$1,212,718
27	92	$101,130	$1,429,197	$1,067,220	$1,066,522	$1,117,982
28	93	$98,817	$1,528,014	$1,073,109	$1,073,109	$1,073,109
29	94	$106,248	$1,634,262	$971,800	$971,751	$1,018,639
30	95	$102,295	$1,736,557	$965,494	$965,494	$965,494

Hypothetical Assumptions: $1 million premium in Athene Velocity with FER Max with Premium Bonus, the Shiller Barclays Global Index with 170% Participation, 0.00% Annual Strategy Charge, 0.85% annual Enhanced Death Benefit Rider Charge Rate and no other optional riders elected. Hypothetical 4.79% annual Interest Earnings based on the average back-tested movement of the Shiller Barclays Global Index from 12/31/13 to 12/31/23. The Shiller Barclays Global Index was established on 02/01/19. Performance shown before this date is back-tested by applying the index strategy, which was designed with the benefit of hindsight, to historical financial data. Back-tested performance is hypothetical and has been provided for informational purposes only. Past performance is not a guarantee of future performance. Assumes withdrawals are not subject to a Withdrawal Charge, Premium Bonus Vesting Adjustment or a Market Value Adjustment (MVA).

Annual Interest Earnings: Reflects the average annual return of the annuity product performance based upon the most recent 10 calendar year period.

⁵ The actual death benefit paid out is the greatest of the Cash Surrender Value, Balanced Allocation Value or the Enhanced Death Benefit value.

Hypothetical Example Based on Guaranteed Values

By age 85, Bill took $470,571 in RMDs. If Bill passed away, Susan would receive a death benefit of $697,205. See Below

End of Year	Age	RMD Paid to Client	Total Income	Cash Surrender Value	Accumulation Value	Death Benefit⁵
1	66	$0	$0	$914,485	$1,071,500	$1,080,000
2	67	$0	$0	$910,836	$1,062,915	$1,080,000
3	68	$0	$0	$912,308	$1,054,244	$1,080,000
4	69	$0	$0	$913,544	$1,045,487	$1,080,000
5	70	$0	$0	$914,542	$1,036,641	$1,080,000
6	71	$0	$0	$915,299	$1,027,708	$1,080,000
7	72	$0	$0	$915,811	$1,018,685	$1,080,000
8	73	$0	$0	$916,910	$1,009,572	$1,082,857
9	74	$38,097	$38,097	$878,818	$962,270	$1,055,588
10	75	$37,736	$75,833	$845,120	$915,562	$1,028,408
11	76	$37,218	$113,051	$966,949	$869,602	$1,001,474
12	77	$40,800	$153,851	$926,149	$820,290	$970,689
13	78	$40,443	$194,294	$885,706	$771,596	$939,953
14	79	$40,259	$234,553	$845,447	$723,347	$908,663
15	80	$40,069	$274,622	$805,378	$675,555	$876,520
16	81	$39,870	$314,492	$765,508	$628,235	$843,329
17	82	$39,459	$353,951	$726,049	$581,607	$809,155
18	83	$39,246	$393,197	$686,803	$535,483	$773,483
19	84	$38,802	$431,999	$648,001	$490,106	$736,371
20	85	$38,571	$470,571	$609,429	$445,276	$697,205
21	86	$38,089	$508,660	$571,340	$407,186	$649,691
22	87	$37,588	$546,248	$533,752	$369,598	$601,302
23	88	$37,066	$583,314	$496,686	$332,532	$551,971
24	89	$36,254	$619,569	$460,431	$296,278	$502,082
25	90	$35,692	$655,261	$424,739	$260,585	$451,123
26	91	$34,815	$690,076	$389,924	$225,771	$399,541
27	92	$33,906	$723,982	$356,018	$191,864	$356,018
28	93	$32,965	$756,947	$323,053	$158,900	$323,053
29	94	$31,985	$788,932	$291,068	$126,914	$291,068
30	95	$30,639	$819,571	$260,429	$96,276	$260,429

Hypothetical Assumptions: $1 million premium in Athene Velocity with FER Max with Premium Bonus, 0.00% Annual Strategy Charge, 0.85% annual Enhanced Death Benefit Rider Charge Rate, no interest credits and no other optional riders elected.

⁵ The actual death benefit paid out is the greatest of the Cash Surrender Value, Balanced Allocation Value or the Enhanced Death Benefit value.

FER Max is available with Athene Velocity. Rates and product availability will vary by state and results may be higher or lower. See your insurance professional for detailed information.

Key Terms and Definitions

What is a Fixed Indexed Annuity? – A fixed indexed annuity is a contract issued by an insurance company. In exchange for your premium, the insurance company provides the opportunity for growth based in part on the performance of an underlying index, or group of indices, within a larger strategy while protecting your money from downside market risk. All guarantees are backed by the claims paying ability of the issuing carrier and may be subject to annual charges. Fixed indexed annuities are not stock market investments and do not directly participate in any stock or equity investments or index. It is not possible to invest directly in an index. Other restrictions and limitations may apply. For more information, please contact your insurance professional to see the Athene Velocityt product brochure.

Balanced Allocation Value (BAV) – The BAV is calculated daily and is the greater of the sum of the Strategy BAV of all Strategy Options or the Return of Charge amount. Each Strategy BAV accounts for any additional interest from the beginning of the current Strategy Term Period that has not yet been credited to the Strategy Value of that Strategy Option. The BAV is utilized for the Terminal Illness Waiver, Confinement Waiver and Death Benefit. The BAV is not available upon Surrender or at the Annuity Date, nor is it the basis for the Free Withdrawal amount.

Family Endowment Rider Max (FER Max) Enhanced Death Benefit – An Enhanced Death Benefit is available through an optional rider. The FER Max pays a minimum amount equal to the initial premium accumulated at a specified fixed interest rate plus 100% of Interest Earnings, if any, every two years (minus withdrawals). The Enhanced Death Benefit Crediting Base accumulates until the Enhanced Death Benefit Interest Stop Date, which is the later of 8 years or Contract Owner age 85. At death, your beneficiary will receive the greater of the base contract death benefit or the Enhanced Death Benefit.

The FER Max provides a one-time Premium Bonus, which enhances the Accumulation Value on the Contract Date.

The Enhanced Death Benefit Rider Charge of 0.85% is calculated at the beginning of every contract year based on the Enhanced Death Benefit Crediting Base multiplied by the Enhanced Death Benefit Rider Charge Rate. The charge is deducted at the beginning of each month at a rate of 1/12th of the annual Enhanced Death Benefit Rider Charge from the Accumulation Value and in certain states, the Minimum Guaranteed Contract Value, until the Rider Charge Stop Date, which is the later of 8 years or Contract Owner age 85.

FER Max cannot be terminated once it has been purchased and attached to the contract; the rider will terminate upon the Annuity Date or payment of a death benefit under the provisions of the contract.

FER Max Withdrawals and Tax Considerations – Withdrawals of any type will reduce the Enhanced Death Benefit. The first 5% (for FER Max) of the Accumulation Value withdrawn in any contract year will reduce the Enhanced Death Benefit on a dollar-for-dollar basis. Withdrawals in excess of that percentage in any contract year (including Required Minimum Distributions) will reduce the Enhanced Death Benefit proportionally. Any amounts withdrawn in excess of the Free Withdrawal amount will be subject to Withdrawal Charges, Premium Bonus Vesting Adjustments and MVAs. For more information, please see the Certificate of Disclosure. The FER Max is not life insurance, and any benefit payable under the rider will be taxable. The information contained herein is based on our understanding of current tax law. The tax and legislative information may be subject to change and different interpretations.

Free Withdrawals and Required Minimum Distributions – The Free Withdrawal amount is the greater of a percentage of the Accumulation Value and a percentage of the Initial Premium and Premium Bonus, if applicable. The percentage is 10% in all years. Withdrawals in excess of the Free Withdrawal amount (excluding Required Minimum Distributions) will not receive gains to-date and will be subject to any applicable Withdrawal Charges, Premium Bonus Vesting Adjustments and MVAs. Gains to date are not credited on Lifetime Income Withdrawals or to withdrawals in excess of the Free Withdrawal amount.

The contract waives Withdrawal Charges, MVA and Premium Bonus Vesting Adjustments, if applicable, on Required Minimum Distributions taken after turning age 73.¹

Withdrawal Charge Schedule

Withdrawal Charges may vary by state. Withdrawals and the surrender of the Contract may be subject to federal and state income tax and, except under certain circumstances, will be subject to an additional tax if taken prior to age 59½. For more information, please see the Additional Information Insert and Certificate of Disclosure.

Market Value Adjustment (MVA) – The MVA feature applies during the Withdrawal Charge period to a surrender or Withdrawals in excess of the Free Withdrawal amount. This adjustment is in addition to any Withdrawal Charge amount. The MVA does not apply to Free Withdrawals, RMDs or payments made under the Confinement and Terminal Illness Waivers. Not applicable in MO.

PREMIUM BONUS VESTING ADJUSTEMENT (PBVA) – The optional, for a charge, Familiy Endowment Rider Max provides an Enhanced Death Benefit as well as a 8% Premium Bonus that enhances the Accumulation Value. While the Premium Bonus is added to the Accumulation Value, it is not added to the Enhanced Death Benefit. Withdrawals taken in excess of the Free Withdrawal amount will incur a Premium Bonus Vesting Adjustment (PBVA) in addition to any applicable Withdrawal Charges and MVA. The PBVA is equal to the portion of the Accumulation Value withdrawn in excess of the Free Withdrawal amount which is attributable to the Premium Bonus, multiplied by (100% minus the PBVA).

Premium Bonus Vesting Schedule

*70/10 states are AK, CT, DE, HI, ID, MN, MT, NH, NJ, NV, OH, OK, OR, PA, SC, TX, UT, WA.

¹ The IRS requires individuals owning IRAs to take a required minimum distribution (RMD) each year once you reach a certain age, which varies by birthdate. The annual deadline for taking an RMD is December 31. You may delay your first RMD until April 1 of the year after you attain the required beginning age. If you delay your first RMD, you’ll have to take your first and second RMD in the same tax year. If you fail to take your RMD, you may be subject to an excise tax. Please consult with your tax professional for guidelines specific to your situation. Visit IRS.gov for details.

² FER Max must be elected at contract issue to receive the Premium Bonus.

³ The guaranteed annual growth plus any Interest Earnings every two years applies until the later of the Contract Anniversary following the Owner’s age 85 or the 8th anniversary. In AK, CT, HI, ID, MN, NH, NJ, OH, OR, PA, UT, WA, the roll-up years for the Annual Enhanced Death Benefit Interest Rate are also capped at 250% of premium, as determined based on the guaranteed compound annual growth rate at Contract issuance.

⁴ Withdrawals of any type will reduce the Enhanced Death Benefit. The first 5% of the Accumulation Value withdrawn in any contract year will reduce the Enhanced Death Benefit on a dollar-for-dollar basis. Withdrawals in excess of that percentage in any contract year (including Required Minimum Distributions) will reduce the Enhanced Death Benefit proportionally.

May not be available for use in all states.

Indexed annuities are not stock market investments and do not directly participate in any stock or equity investments. Market indices may not include dividends paid on the underlying stocks, and therefore may not reflect the total return of the underlying stocks; neither an index nor any market-indexed annuity is comparable to a direct investment in the equity markets.

The Shiller Barclays CAPE® Allocator 6 Index and the Shiller Barclays Global Index (collectively, the “Indices”) have been developed in part by RSBB-I, LLC, the research principal of which is Robert J. Shiller. RSBB-I, LLC is not an investment advisor, and does not guarantee the accuracy or completeness of the Indices, or any data or methodology either included therein or upon which they are based. Neither RSBB-I, LLC nor Robert J. Shiller or any of their respective partners, employees, subcontractors, agents, suppliers and vendors (collectively, the “Protected Parties”) shall have any liability, whether caused by the negligence of a Protected Party or otherwise, for any errors, omissions, or interruptions therein, and make no warranties, express or implied, as to performance or results experienced by any party from the use of any information included therein or upon which it is based, and expressly disclaim all warranties of merchantability or fitness for a particular purpose with respect thereto, and shall not be liable for any claims or losses of any nature in connection with the use of such information, including but not limited to, lost profits or punitive or consequential damages, even if RSBB-I, LLC, Robert J. Shiller or any Protected Party is advised of the possibility of same.

Neither Barclays Bank PLC (“BB PLC”) nor any of its affiliates (collectively “Barclays”) is the issuer or producer of Athene Annuity and Life Company’s (“Athene”) fixed index annuities (the “Products”) and Barclays has no responsibilities, obligations or duties to purchasers of the Products. The Indices, together with any Barclays indices that are components of the Indices, are trademarks owned by Barclays and, together with any component indices and index data, are licensed for use by Athene as the issuer or producer of the Products (the “Issuer”).

Barclays’ only relationship with the Issuer in respect of the Indices is the licensing of the Indices, which are administered, compiled and published by BB PLC in its role as the index sponsor (the “Index Sponsor”) without regard to the Issuer or the Products or purchasers of the Products. Additionally, Athene as issuer or producer of the Products may for itself execute transaction(s) with Barclays in or relating to the Indices in connection with the Products. Consumers acquire the Products from Athene and neither acquire any interest in the Indices nor enter into any relationship of any kind whatsoever with Barclays upon purchasing the Products. The Products are not sponsored, endorsed, sold or promoted by Barclays and Barclays makes no representation regarding the advisability of the Products or use of the Indices or any data included therein. Barclays shall not be liable in any way to the Issuer, purchasers of the Products or to other third parties in respect of the use or accuracy of the Indices or any data included therein.

Under current tax law, the Internal Revenue Code already provides tax deferral to qualified money, so there is no additional tax benefit obtained by funding an IRA with an annuity. Consider the other benefits provided by an annuity, such as lifetime income and a death benefit.

Athene Velocity ANN19 (01/19), ASP19CS (01/19) or state variation, Family Endowment Rider PBEDB (01/19), PBEDBRS (01/19) or state variation, Athene Velocity Income Rider ASPIR (01/19), ASPIRRS (01/19) or state variation are issued by Athene Annuity and Life Company, West Des Moines, IA. Product features, limitations and availability vary; see Certificate of Disclosure for full details. Products not available in all states.

Idaho and Oregon: Athene Velocity ICC18 ANN19 (01/19), and ICC18 ASP19CS (01/19), Family Endowment Rider ICC18 PBEDB (01/19), and ICC18 PBEDBRS (01/19), Athene Velocity Income Rider ICC19 ASPIR (01/19), and ICC18 ASPIRRS (01/19); ICC18 ANNIES (01/19), ICC18 ANNIESCS (01/19), ICC18 ANNEIBE (01/19), ICC18 MVA (01/19), ICC18 ASPFWP (01/19), ICC18 ANNTIW (01/19), and ICC18 ANNCW (01/19) are issued by Athene Annuity and Life Company, West Des Moines, IA. Product features, limitations and availability vary; see Certificate of Disclosure for full details. Products not available in all states.

This material is a general description intended for general public use. Athene Annuity and Life Company (61689), headquartered in West Des Moines, Iowa, and issuing annuities in 49 states (excluding NY) and D.C., and Athene Annuity & Life Assurance Company of New York (68039), headquartered in Pearl River, NY, and issuing annuities in New York, are not undertaking to provide investment advice for any individual or in any individual situation, and therefore nothing in this should be read as investment advice. Please reach out to your insurance professional if you have any questions about Athene products or their features. Products not available in all states.

ATHENE ANNUITIES ARE PRODUCTS OF THE INSURANCE INDUSTRY AND NOT GUARANTEED BY ANY BANK NOR INSURED BY FDIC OR NCUA/NCUSIF. MAY LOSE VALUE. NO BANK/CREDIT UNION GUARANTEE. NOT A DEPOSIT. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. MAY ONLY BE OFFERED BY A LICENSED INSURANCE AGENT.

This web page contains highlights only — for a full explanation of these annuities, please contact your insurance professional to see the Certificate of Disclosure which provides more detailed product information including all charges or limitations as well as definitions of capitalized terms.

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