BCA 2.0 Annuity From Athene – Explore Your Retirement Opportunities

Explore Your Retirement Opportunities

Athene^® BCA^® 2.0 Fixed Indexed Annuity

Strengthen Your Growth Potential

BCA 2.0 offers a unique growth opportunity for your retirement savings. You can earn interest based in part on the positive movement of the indicies attached to your selected Index Earning Strategy (IES) at the end of each two-year Strategy Term Period. Negative index performance during any term will not reduce the value of your annuity. BCA 2.0 also helps you:

Track Values Daily
The Balanced Allocation Value provides a daily valuation of the potential growth through each term.
Lock In Positive Performance
At the end of every two-year term, Interest Earnings, if any, are locked in and cannot be lost due to negative index performance.¹
Benefit from Gains To-Date on Free Withdrawals
Because values are tracked daily, if you take a free withdrawal during a two-year term, you will receive any unrealized Interest Earnings to-date on the amount withdrawn.²

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 underlying indices within a larger strategy while protecting your money from downside market risk. 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. All guarantees are backed by the claims-paying ability of the issuing carrier and may be subject to annual charges. Other restrictions and limitations may apply.

Grow Your Retirement Savings

BCA 2.0 helps take your retirement savings to a new level and protects your money from downside market risk. The graph below shows how the Balanced Allocation Value (BAV) is tracked every day and Interest Earnings, if any, are locked in every two years.

The graph above is intended for informational purposes only and it does not depict actual performance of any BCA 2.0 contract or any index. It assumes no charges, including Annual Strategy Charges, or withdrawals, which will reduce the Accumulation Value.

The Accumulation Value is your premium plus any Interest Earnings. The Accumulation Value will be reduced by any applicable charges and withdrawals.³ Interest Earnings are credited every two years.

The Minimum Interest Credit (MIC) guarantees a minimum credited rate of accumulation. The MIC, if applicable, is a one-time credit that will be applied to the Accumulation Value at the end of the Withdrawal Charge period. The Minimum Interest Credit is not available if the Balanced Allocation Lifetime Income Rider^® (BALIR^®) is attached to the Contract.

Key Terms and Definitions

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.

Balanced Allocation Lifetime Income Rider (BALIR) – The BALIR is an optional rider that must be elected at contract issue and is available for an annual Income Rider Charge. BALIR offers a choice of two options – SGO Max or Flex Growth. The Annual Rider Charge is calculated at the beginning of every contract year. The charge is deducted in monthly installments from the Accumulation Value and, in some states, the Minimum Guaranteed Contract Value. On the 10th contract anniversary, you may elect to extend Income Base growth up to the 18th contract anniversary. The rider charge may increase by up to 0.20% per year times the number of years extended starting at the beginning of the 11th contact year.

Optional Rider Charges

SGO Max — 1.00%
Flex Growth — 1.00%

Cash Surrender Value (CSV) – 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, Annual Strategy Charges and optional rider charges, if applicable, plus any applicable Market Value Adjustments
The Minimum Guaranteed Contract Value
The Return of Charge 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.

Confinement and Terminal Illness Waivers – After the first contract anniversary, you can withdraw up to 100% of your annuity‘s value if you, as the Owner, are diagnosed with a Terminal Illness or an illness or serious injury necessitates a stay of 60 consecutive days or more at a Qualified Care Facility. If the Owner is a non-natural entity, then the Confinement and Terminal Illness Waivers will be triggered based on the Annuitant. Any applicable Withdrawal Charges, MVA or Premium Bonus Vesting Adjustments will be waived. For more details and state variations, please contact your insurance professional to see the Additional Information Insert and Certificate of Disclosure. In MA, the Confinement Waiver is not available. In CA, the Confinement Waiver and Terminal Illness Waiver are not available.

Death Benefit – Should you, as the Owner, pass away before you begin receiving annuity payments, the full value of the annuity will be payable to your beneficiary or beneficiaries. If the Owner is a non-natural entity, then the death benefit is triggered in the event of the Annuitant passing. The Death Benefit will be the greater of the contract‘s Cash Surrender Value or the Balanced Allocation Value. A Withdrawal Charge and any applicable Premium Bonus Vesting Adjustments or MVAs will not be applied to the death benefit paid. Under certain circumstances, spousal beneficiaries may be able to continue the contract. After annuitization, payments will be consistent with the Settlement Option selected. Taxes may apply.

Free 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. 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.

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 contact your insurance professional to see the Additional Information Insert and Certificate of Disclosure.

Income Base – The Income Base is used to determine the annual Lifetime Income Withdrawals and Annual Income Rider Charge, if applicable. SGO Max offers Income Base growth at a daily rate that is equivalent to 4.5% annual compound interest plus 100% of BCA 2.0 Interest Earnings, if any, minus the Annual Strategy Charge, if applicable. Flex Growth offers Income Base growth that is the greater of a daily rate that is equivalent to 4.5% annual compound interest or the net of 200% of BCA 2.0 Interest Earnings, if any, minus the Annual Strategy Charge, if applicable. Interest Earnings, if any, are credited to the Income Base until the earlier of Lifetime Income Withdrawals beginning or the 10th contract anniversary (or up to the 18th anniversary if the Income Base growth is extended). If you begin Lifetime Income Withdrawals before the end of a two-year term, interest, if any, will be credited pro rata to the Income Base. The Income Base is not an amount that has a cash value or surrender value that can be paid out partially or in a lump sum. Withdrawals, prior to commencing Lifetime Income Withdrawals, will reduce the Income Base by the same percentage that the Accumulation Value is reduced for the withdrawal. However, the dollar amount of this reduction will not be less than the deduction from the Accumulation Value. After Lifetime Income Withdrawals have commenced, withdrawals up to the Lifetime Income Withdrawal amount will reduce the Income Base by the dollar amount of the withdrawal, while withdrawals in excess of the Lifetime Income Withdrawal amount will reduce the Income Base and future Lifetime Income Withdrawals by the same percentage that the Accumulation Value is reduced for the withdrawal. Withdrawals may also be subject to Withdrawal Charges, Premium Bonus Vesting Adjustments or MVAs, if applicable. For more information, please contact your insurance professional to see the the Certificate of Disclosure.

Index Earnings Strategy (IES) – The IES uses a Participation Rate in the calculation of Interest Earnings. The IES adds Interest Earnings, if any, to your annuity at the end of every two-year term. A percentage, called the Participation Rate, is applied to the growth of the benchmark index or indices to determine the Interest Earnings. The IES may apply an Annual Strategy Charge which is calculated by multiplying the Strategy Value of the associated Strategy Option and an Annual Strategy Charge Rate on each contract anniversary. A portion of that charge (1/12th) is deducted from the applicable Strategy Value each month. All rates are set at contract issue and guaranteed for the first two-year term. For current Participation Rates, please contact your insurance professional to see the rate sheet. A specific Strategy Option may not be available for the life of the contract.

Lifetime Income Withdrawals – Lifetime Income Withdrawals are calculated by multiplying the greater of the Income Base or Accumulation Value by the current Lifetime Income Withdrawal Percentage when Lifetime Income Withdrawals begin. The Lifetime Income Withdrawal Percentage depends on the income option elected and is determined by the “Age” Lifetime Income Withdrawals begin. “Age” means your attained age for Single Life or the younger of your attained age or your spouse’s attained age for Joint Life when your spouse is listed as the sole beneficiary or the contract is jointly owned. In general, the longer you wait to take income, the greater the initial Lifetime Income Withdrawal Percentage will be. When you’re ready to begin Lifetime Income Withdrawals, SGO Max and Flex Growth offer the following options:

Level Income Option offers the highest initial amount.
Inflation-Indexed Income Option increases the lifetime income annually based on increases in the Consumer Price Return Index, if any. Increases are capped at 10% per year and stop when the Maximum Inflation Adjustment Period has elapsed.
Earnings-Indexed Income Option may increase the lifetime income at the end of every 2-year strategy term based on the rate of interest credited, if any, to the Strategy Options elected.

The Inflation-Indexed Income Option and Earnings-Indexed Income Option offer less initial income than the Level Income Option but may provide more income over your lifetime due to potential increases after beginning Lifetime Income Withdrawals. Lifetime Income Withdrawals will continue even if they ultimately reduce the Accumulation Value to zero. Withdrawals in excess of the Lifetime Income Withdrawal may be subject to a Withdrawal Charge, MVA and Premium Bonus Vesting Adjustment and will reduce future Lifetime Income Withdrawals. Withdrawals in some instances could terminate the rider. For more information, please contact your insurance professional to see the Certificate of Disclosure and ask your insurance professional. Withdrawals and surrender 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.

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.

Minimum Guaranteed Contract Value – You will receive a minimum interest crediting rate on a percentage of your premium adjusted for withdrawals and optional rider charges, depending on state, while the contract is in effect, regardless of market conditions, providing a minimum value the contract will not fall below.

Minimum Interest Credit (MIC) – If at the end of your withdrawal charge period, the total interest credited to your Accumulated Value is less than the Minimum Interest Credit, you will automatically receive a one-time interest credit equal to the difference. The Minimum Interest Credit is based upon a percentage of your Initial Premium and Premium Bonus, if applicable, less withdrawals and charges. The Minimum Interest Credit is not available if the Balanced Allocation Lifetime Income Rider^® (BALIR^®) is attached to the Contract.

Required Minimum Distributions – BCA 2.0 waives Withdrawal Charges, MVA and Premium Bonus Vesting Adjustments, if applicable, if you need to take Required Minimum Distributions after turning age 73. For more information, please contact your insurance professional to see the Additional Information Insert.

Return of Charge (ROC) – If you do not take any withdrawals, including a full surrender, that are subject to a Withdrawal Charge, the Cash Surrender Value of your contract after the Withdrawal Charge period will never be less than the premium paid plus any applicable Premium Bonus, adjusted for withdrawals. This means that your premium and any bonus will be returned to you, even if Annual Strategy Charges and optional rider charges are greater than the interest earnings credited to your account.

¹ Annual Strategy Charges and other optional rider charges will reduce the Accumulation Value.

² The Free Withdrawal amount is 5% of the Accumulation Value in the first year and 10% of the Accumulation Value for all remaining years. Withdrawals in excess of the Free Withdrawal amount will not receive gains to-date and will be subject to any applicable Withdrawal Charges, Premium Bonus Vesting Adjustments and Market Value Adjustments (MVAs). Gains to-date are not credited on Lifetime Income Withdrawals or to withdrawals in excess of the Free Withdrawal amount. For more information, please see the Key Terms and contact your insurance professional to see the Additional Information insert. Withdrawals and surrender 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.

³ Charges may include Annual Strategy Charges, optional rider charges, Withdrawal Charges, Premium Bonus Vesting Adjustments and MVAs, if applicable. Annual Strategy Charges and optional rider charges are calculated annually on the contract anniversary and deducted monthly from the Accumulation Value. For optional rider charges, the amount is also deducted monthly from the Minimum Guaranteed Contract Value in some states. For more information, please see the Key Terms and contact your insurance professional to see the Additional Information insert.

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.

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 BCA 2.0 ANN19 (01/19), ANN19CS06 (01/19), ANN19CS08 (01/19), ANN19CS10 (01/19), ANN19CS12 (01/19) or state variation, Family Endowment Rider PBEDB (01/19), PBEDBRS (01/19) or state variation, Balanced Allocation Lifetime Income Rider ANNIRS (01/19), ANNIRSRS (01/19), ANNIRF (01/19), ANNIRFRS (01/19) or state variation are issued by Athene Annuity and Life Company, West Des Moines, IA. Product features, limitations and availability vary; please contact your insurance professional to see the Certificate of Disclosure for full details. Products available in 49 states (excluding NY) and D.C.

Idaho and Oregon: The Athene BCA 2.0 ICC18 ANN19 (01/19), ICC18 ANN19CS06 (01/19), ICC18 ANN19CS08 (01/19), ICC18 ANN19CS10 (01/19); The Athene Velocity ICC18 ANN19 (01/19), ICC18 ASP19CS (01/19); the Athene Velocity Income Rider ICC19 ASPIR (01/19), ICC18 ASPIRRS (01/19); the Family Endowment Rider ICC18 PBEDB (01/19), ICC18 PBEDBRS (01/19); the Balanced Allocation Lifetime Income Rider ICC19 ANNIRS (01/19), ICC18 ANNIRSRS (01/19), ICC19 ANNIRF (01/19), ICC18 ANNIRFRS 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.