Flex Growth – Secure Your Future with Guaranteed Lifetime Income

Secure Your Future with Guaranteed Lifetime Income

Balanced Allocation Lifetime Income Rider^® Flex Growth^SM

A Flexible Opportunity to Grow Retirement Income

The optional Flex Growth – Balanced Allocation Lifetime Income Rider^® (BALIR^®) option offers a source of retirement income you canʻt outlive.¹ BCA 12 2.0 fixed indexed annuity offers potential growth for your retirement savings with protection from downside market risk. Available for an additional charge, Flex Growth provides three powerful ways to grow future lifetime income:

A 20% Income Base Bonus immediately increases the Income Base, which is used to determine future lifetime income.²
Guaranteed 4.5% Annual Increases to Your Income Base credited daily throughout each policy year.
200% of Any Interest Earnings, if greater than the Guaranteed 4.5% Annual Increase, will be credited to your Income Base at the end of every 2-year term.³

For more information on the Income Base and Income Base Bonus, please contact your insurance professional to see the Additional Information insert.

Planning for Guaranteed Lifetime Income

Objective: Sarah needs to create a source of income that will last throughout retirement, and she wants guaranteed growth with the opportunity to participate in upside market potential.

Solution: Sarah allocates $100,000 of her retirement savings to BCA 12 2.0 with the Flex Growth option. A 20% Income Base Bonus immediately increases her Income Base, which will be used to determine future guaranteed lifetime income.

Result: Over the next 16 years, Sarah’s Income Base grows by the greater of a guaranteed 4.5% compound annual increase or 200% of Interest Earnings, credited to her Income Base every two years. By age 82, Sarah’s Income Base has increased to $1,622,791.

This is a hypothetical example to show how BCA 12 2.0 and Flex Growth can work. Your experience will differ. Past performance is no guarantee of future performance.

Flex Growth Consumer Brochure

Harnessing Market Growth and Guarantees

Flex Growth helps you harness market growth and guarantees by automatically providing the greater of a guaranteed 4.5% annual roll-up and a percentage of any Interest Earnings, credited to your Income Base every two years.

Receive the Higher of Two Values

These graphs track the hypothetical progression of 200% of Interest Earnings over a 2-year term. This calculation uses the base contract Balanced Allocation Value (BAV), which is calculated daily but is not available for surrender. For additional information on the BAV, please contact your insurance professional to see the Additional Information insert (83151).

This is a hypothetical example to show how BCA 12 2.0 with Flex Growth can work. Your experience will differ. Past performance is no guarantee of future performance.

The graph above is for informational purposes only and intended to demonstrate how the Income Base can grow. It is hypothetical and does not demonstrate actual performance of any BCA 12 2.0 or Flex Growth contract or index. This does not demonstrate the potential impact of Annual Strategy Charges and withdrawals, which will reduce the Income Base. Please remember that the Income Base is used for calculating Lifetime Income Withdrawals and cannot be withdrawn in a lump sum. The length of each term is two years. For more information about Flex Growth, please ask your insurance professional for an illustration.

Hypothetical Assumptions: $100,000 premium in BCA 12 2.0 with Flex Growth, 390% Participation Rate, 0.95% Annual Strategy Charge, 1.00% Annual Income Rider Charge Rate and no other optional riders elected. Based on index performance for the most recent 10 calendar years, repeated every 10 years, for the Citi Grandmaster Index.

Best of Both Worlds — Guarantees + Growth

Hypothetical Example Based on Non-Guaranteed Values

Every two years, the greater of a guaranteed 4.5% annual roll-up or 200% of any Interest Earnings is credited to Sarah’s Income Base, establishing a new locked-in Income Base on which future growth is calculated.

Hypothetical Assumptions: $100,000 premium with BCA 12 2.0 with Flex Growth, 16 years of deferral prior to beginning Lifetime Income Withdrawals, at the following rates: 20% Income Base Bonus, guaranteed 4.5% annual roll-up in years 1-16, Single Life, Level Income Option, 1.00% Rider Charge. Based on the index performance for the most recent 10 calendar years, repeating every 10 years, for the Citi Grandmaster Index. Assumes no withdrawals before beginning lifetime income. The Income Base is used for calculating Lifetime Income Withdrawals and cannot be withdrawn in a lump sum. All values are net of applicable Annual Strategy Charges. For more information, please see the BALIR rate sheet and ask your insurance professional.

Flex Growth is available with select BCA 2.0 FIAs. 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 BCA 12 2.0 product brochure.

Balanced Allocation Lifetime Income Rider (BALIR) – Flex Growth – The BALIR – Flex Growth is an optional rider that must be elected at contract issue and is available for an annual Income Rider Charge of 1.00%. 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 contract year.

Income Base – The Income Base is used to determine the annual Lifetime Income Withdrawals and Annual Income Rider 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 and 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 on 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 Certificate of Disclosure.

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, Flex Growth offers the following options:

The Level Income Option offers the highest initial amount.
The 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.

¹ Withdrawals in excess of the Maximum Lifetime Income Withdrawal amount may reduce the Accumulation Value to zero, after which Lifetime Income Withdrawals will not be available.

² The Income Base Bonus will vary by product and will be lower if a Family Endowment Rider^® is purchased. The Income Base is different from the Accumulation Value, cannot be withdrawn as a lump sum and is used only for the calculation of Lifetime Income Withdrawals.

³ Any Interest Earnings greater than the 4.5% annual roll-up are credited to the Income Base every 2 years and when you elect to begin taking Lifetime Income Withdrawals. The rate of interest is equivalent to a compound annual rate of 4.5%. Annual Strategy Charges, if any, are deducted from the 200% Interest Earnings only. If the combination of Interest Earnings minus Annual Strategy Charges is less than the 4.5% guaranteed annual increase, Annual Strategy Charges do not reduce the Income Base for the Strategy Term. On the 10th contract anniversary, you may elect to extend Income Base growth up to the 18th contract anniversary. If you elect to extend Income Base growth, the rider charge may be increased by up to 0.20% per year times the number of years extended from the beginning of the 11th contract year. The roll-up credits interest to the Income Base on a daily basis.

⁴ Interest Earnings are tracked daily and credited when they exceed the 4.5% annual roll-up at the end of every 2-year term, and when you elect to begin taking Lifetime Income Withdrawals.

⁵ Citi Grandmaster Index with 335% Participation Rate and 0.95% Strategy Charge.

⁶ Participating Income Base is net of Annual Strategy Charges.

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.

Citi and Citi and Arc design are trademarks and service marks of Citigroup Inc. or its affiliates, are used and registered throughout the world, and are used under license for certain purposes by Athene Annuity and Life Company or its affiliates (the “Licensee”). Citigroup Global Markets Limited (“Citigroup”) has licensed the Citi Grandmaster Index (the “Index”) to the Licensee for its sole benefit. Neither the Licensee nor the Licensee’s fixed indexed annuity product (the “Product”) is sponsored, endorsed, sold or promoted by Citigroup or any of its affiliates. Citigroup makes no representation or warranty, express or implied, to persons purchasing the Product. Such persons should seek appropriate advice before making any purchase. The Index has been designed and is compiled, calculated, maintained and sponsored by Citigroup without regard to Licensee, the Product or any purchaser of the Product. Citigroup is under no obligation to continue sponsoring or calculating the Index.

CITIGROUP DOES NOT GUARANTEE THE ACCURACY OR PERFORMANCE OF THE INDEX, THE INDEX METHODOLOGY, THE CALCULATION OF THE INDEX OR ANY DATA SUPPLIED BY CITIGROUP FOR USE IN CONNECTION WITH THE PRODUCT AND DISCLAIMS ALL LIABILITY FOR ANY SPECIAL, INDIRECT, CONSEQUENTIAL DAMAGES EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

Please see https://investmentstrategies.citi.com/cis/us for additional important information about The Citi Grandmaster Index.

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.