Please go to
http://paulmerriman.com/ and read his FREE eBooks. I have a different Athene Annuity that I purchased in 2004/5 before I educated myself. The good news it was a small annuity, the bad news, it was a BAD decision on my part. I am in the process of dumping it, little at a time so as to avoid the harsh early withdrawal penalties.
As already stated, the commissions typically run 10% of the initial investment which makes me question it right up front.
I do believe the same money, placed in a few indexed mutual funds, will yield more return PLUS give you access to the principal if you want/need it.
Your choices could be as simple as:
Vanguard Total Stock Market Index Fund, holding approximately 3600 stocks,
Vanguard Total International Stock Index Fund, holding approximately 6200 stocks,
Vanguard Total Bond Market Index Fund, holding approximately 8400 bonds,
Vanguard Total International Bond Index Fund
You determine the mix based on your risk tolerance.
Hope that helps a little.