BCA Elevate⢠8
BCA Elevate™ 8 Additional Product Information Annuitization
You have the opportunity on the contract’s Annuity Date to elect a guaranteed stream of income that will last as long as your retirement. There are a variety of payout options to meet your needs.
Annuity Statements
Statements will be sent to you annually. You may also access information about your annuity, including daily values, online at www.atheneannuity.com.
Cash Surrender Value
If you decide to surrender your contract, you will receive the contract’s Cash Surrender Value. The Cash Surrender Value is equal to the greatest of:
™
•• The Accumulation Value, less any applicable Withdrawal Charges, Premium Bonus Vesting Adjustments, Strategy and Optional Rider Charges, if applicable, and plus/minus any applicable Market Value Adjustments •• The Minimum Guaranteed Contract Value •• The Return of Premium Guarantee Amount (available after the Withdrawal Charge period and if no withdrawals are taken that incur a withdrawal charge) If you surrender the contract before the end of the Withdrawal Charge period, you may receive less than your original premium.
Minimum Premium
$5,000 on tax-qualified and non-tax-qualified funds.
Premium Bonus Vesting Adjustment
The optional Family Endowment Rider® with Premium Bonus provides, for a charge, a 6% premium bonus that enhances your Accumulation Value as well as provides an Enhanced Death Benefit. While the premium bonus is added to the Accumulation Value, it is not added to the Enhanced Death Benefit. The Premium Bonus Vesting Adjustment is equal to the portion of the Accumulation Value withdrawn in excess of the Free Withdrawal amount which is attributable to the Premium Bonus, multiplied by [100% minus the Premium Bonus Vesting Percentage]. The Premium Bonus Vesting Percentage Schedule is 0% until the end of the withdrawal charge period. The Premium Bonus Vesting Adjustment is in addition to any applicable Withdrawal Charges.
Withdrawals
The Free Withdrawal Amount is 5% of the Accumulation Value in the first year and 10% of the Accumulation Value for all remaining years.1 Withdrawals may be automatically deposited into your bank account on a monthly, quarterly, semiannual or annual basis. 100% of the Required Minimum Distribution (RMD) attributable to your contract is available without charge. For any amount withdrawn in excess of the Free Withdrawal Amount or the RMD attributable to your contract, the following Withdrawal Charge Schedule will apply: Contract Year
1
2
3
4
5
6
7
8
Withdrawal Charge %
10
9
9
9
8
7
5
3
Your withdrawal may be subject to federal and state income tax and, except under certain circumstances, will be subject to an IRS penalty if taken prior to age 59½.
57987
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If your needs are short-term or if you will need access to more than the contract Free Withdrawal amount, the Balanced Choice Annuity Elevate may not be appropriate for your particular financial situation. Consult with your insurance professional and carefully consider your financial situation prior to purchasing.
1
For more information on the Accumulation Value, please see the BCA Elevate brochure and the Certificate of Disclosure.
This annuity has limitations and charges. For costs and details, please request a Certificate of Disclosure. The Balanced Choice® Annuity Elevate 8 ANNBAS (04/15), ANN8 (04/15), or state variation is issued by Athene Annuity and Life Company which is headquartered in West Des Moines, IA. For an explanation of capitalized terms, please refer to the Certificate of Disclosure. The BCA Elevate™ and BALIR® is a product of the insurance industry and is issued and backed by the strength of Athene Annuity and Life Company and not guaranteed by any bank or the FDIC. This piece must accompany the BCA Elevate 8 product brochure. BCA Elevate is issued by Athene Life and Annuity Company, West Des Moines, IA
57987
(08/16) Page 2
You have the opportunity on the contract’s Annuity Date to elect a guaranteed stream of income that will last as long as your retirement. There are a variety of payout options to meet your needs.
Annuity Statements
Statements will be sent to you annually. You may also access information about your annuity, including daily values, online at www.atheneannuity.com.
Cash Surrender Value
If you decide to surrender your contract, you will receive the contract’s Cash Surrender Value. The Cash Surrender Value is equal to the greatest of:
™
•• The Accumulation Value, less any applicable Withdrawal Charges, Premium Bonus Vesting Adjustments, Strategy and Optional Rider Charges, if applicable, and plus/minus any applicable Market Value Adjustments •• The Minimum Guaranteed Contract Value •• The Return of Premium Guarantee Amount (available after the Withdrawal Charge period and if no withdrawals are taken that incur a withdrawal charge) If you surrender the contract before the end of the Withdrawal Charge period, you may receive less than your original premium.
Minimum Premium
$5,000 on tax-qualified and non-tax-qualified funds.
Premium Bonus Vesting Adjustment
The optional Family Endowment Rider® with Premium Bonus provides, for a charge, a 6% premium bonus that enhances your Accumulation Value as well as provides an Enhanced Death Benefit. While the premium bonus is added to the Accumulation Value, it is not added to the Enhanced Death Benefit. The Premium Bonus Vesting Adjustment 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 Premium Bonus Vesting Percentage]. The Premium Bonus Vesting Percentage Schedule is 0% until the end of the withdrawal charge period. The Premium Bonus Vesting Adjustment is in addition to any applicable Withdrawal Charges.
Withdrawals
The Free Withdrawal Amount is 5% of the Accumulation Value in the first year and 10% of the Accumulation Value for all remaining years.1 Withdrawals may be automatically deposited into your bank account on a monthly, quarterly, semiannual or annual basis. 100% of the Required Minimum Distribution (RMD) attributable to your contract is available without charge. For any amount withdrawn in excess of the Free Withdrawal Amount or the RMD attributable to your contract, the following Withdrawal Charge Schedule will apply: Contract Year
1
2
3
4
5
6
7
8
Withdrawal Charge %
10
9
9
9
8
7
5
3
Your withdrawal may be subject to federal and state income tax and, except under certain circumstances, will be subject to an IRS penalty if taken prior to age 59½.
57987
(08/16) Page 1
If your needs are short-term or if you will need access to more than the contract Free Withdrawal amount, the Balanced Choice Annuity Elevate may not be appropriate for your particular financial situation. Consult with your insurance professional and carefully consider your financial situation prior to purchasing.
1
For more information on the Accumulation Value, please see the BCA Elevate brochure and the Certificate of Disclosure.
This annuity has limitations and charges. For costs and details, please request a Certificate of Disclosure. The Balanced Choice® Annuity Elevate 8 ANNBAS (04/15), ANN8 (04/15), or state variation is issued by Athene Annuity and Life Company which is headquartered in West Des Moines, IA. For an explanation of capitalized terms, please refer to the Certificate of Disclosure. The BCA Elevate™ and BALIR® is a product of the insurance industry and is issued and backed by the strength of Athene Annuity and Life Company and not guaranteed by any bank or the FDIC. This piece must accompany the BCA Elevate 8 product brochure. BCA Elevate is issued by Athene Life and Annuity Company, West Des Moines, IA
57987
(08/16) Page 2
