Has AnyonPurchased This Annuity?
 

Have been considering purchasing an annuity. It's called ATHENE Ascent Pro 10 Annuity. It is classified as a single premium fixed indexed deferred annuity.

Has anyone heard of ATHENE or this particular product?

THANKS.

What are the:
Sales charges?
Mortality and expense fees?
Surrender charges?
Number of years surrender charges apply?
Costs of investment options within the product?
Commissions paid to broker?
Any other fees not specified above?


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If its an annuity run--too much front end loaded commission to the agents--if they are selling it and offering "free lunches" run--if you have to pay a penalty for an early cash out-forge about it

Any financial advice
 

BEWARE-Almost all advice comes from someone trying to sell you something.

I do not claim to be familiar with that one BUT, the title
SINGLE PREMIUM FIXED INDEXED DEFERRED ANNUITY. My reply is HUH? Fixed/indexed are conflicting terms. It is either fixed or it is indexed.

The reason why people are PUSHING annuities is because the COMMISSION is very good for the person selling it. Single premium means you give the company a given amount of money. If, the commission is say 10%, if, you pay/invest/buy 100,000 worth the invested money available to generate the promised return is 90,000-yiur 100,000-10% is 90,000.

There are some tax advantages with an annuity-you should discuss that with a qualified accountant.

If, you are thinking about an annuity because you want or need income every week, month or????? You can find tables on the internet that will show you that if you have ??????? dollars and are earning ??????? return how long will the money last. The number used to be published from some sort of study that you money will last your lifetime if you spend 4% or less per year.

I am proudly contrarian. All you need to know is when you will die, the rate of inflation between now and your death,
the cost of medical care-rising faster than the rate of inflation and the rate of return on your investments till the day you pass away and you will know for sure exactly what to do. TROUBLE IS MUCH/ALL YOU NEED TO KNOW IS UNKNOWN. AT BEST WE HAVE GUESSES AND THEY ARE OFTEN WRONG.

In my opinion, do not buy an annuity. They are one of the worst investment products you can buy. They are great for the person selling it to you because they will make a 10 percent upfront commission. But, it is a terrible investment for you.

I just wanted to share some information about the Athene Ascent Pro 10 Annuity. I called the company and talked with Ashley. I asked her to send me a copy of the annuity contract. She said that the contract is 100 pages and that they will not send it to me. In order to read the contract, you must talk with a salesperson, receive a brochure, and send in an application with payment to them. Then, they will send you the contract to sign and you have 20 days to cancel it. So, you cannot read the contract until you have agreed to buy the product and pay for it. To me, this should be a huge warning to anyone who is considering buying an annuity. I have had the same response from other companies who sell annuities. I would never buy anything from someone who will not even let you read what you are buying before you agree to buy it.

I just downloaded a pamphlet about annuities from Fidelity, very interesting read, very negative about these products, for all of the reasons srtated by the first reply.

Annuities benefit very few people except those selling them. If you have zero clue how to manage your money, are a compulsive gambler, can't control your spending, then maybe it would be a way to protect you from yourself.

As a good investment they are horrible. They lock up your money for a long time, the rate of return can and will change, they just overall are a bad way to invest. If you really believe it's your only option then only buy one directly from a reputable company that has no salesmen out pushing the product. Maybe from Vanguard or Fidelity but not from any salesmen. They will sell you the product that gives them the biggest commission regardless of the product quality.

And this particular company? Run very fast in the opposite direction. If they wont let you read the contract until you buy, then give you 20 days to cancel, that tips you off really quick about their product.

I hear a lot of talk about "Don't Buy Annuities". I agree that not all annuities are the same and everyone is different. But my experience is just the opposite. In 2005 I bought 4 large annuities. For 3 years they grew as did the market. When the market crashed my friends with stocks, Mutual Funds lost 50% of their net worth. My annuities switched automatically from a market based to a fixed rate. In the ensuing years as everyone lost a ton of money, my annuities rose at a steady 7% in the worst economy since The Great Depression. I never lost a penny and made a lot of money with never a worry. Annuities are the reason I am here now living the good life.

If your annuities switched from market based to fixed, then you lost a lot of money. Your friends only lost money if they sold their stocks. The market is way up since the "crash". The best way to invest is to maintain a diversified portfolio.

Your comment is misinformed. My annuities are fixed in a down year and market based in an up year. I have the best of both worlds and never lost a Penney.

Typically, market based annuities will only pay about 85 percent of market increases, and will warrant that you will not lose money. But, the warranty only applies from the date you made the deposit until the date you cash out. It does not apply on a incremental year to year basis. So, if you purchased the annuity in 2005 and cashed out in 2018, you would only receive 85 percent of the total market gains during those 13 years. You would only benefit from the warranty if you cashed out when the market was lower than when you purchased it, which is not the case from 2005 to 2018. If your annuity is different, I apologize.

The truth about money
 

The truth is many do not know the truth. Investors, many, will tell you hey I made xxxx on xxxx stock. The real question is what did you make on all your holdings and what is your current risk.

ANNUITY-few people realize that their quoted return includes returning your own capital.

There is also a life risk in an annuity. I can't, I won't ask my sister about it. She bought an annuity 2-4 years ago.
SHE NOW HAS TERMINAL CANCER.

Like most other things, there are people who want to learn, are willing to study etc and others that prefer to PAY others to do it. Here in the Villages, there is no shortage of places that will CLAIM to manage your money. I think it was buffet who said stocks are the only thing people don't want to buy on sale. I also laugh that Buffet is 86 and yet says he buys companies-STOCKS-for the long term.

This thread is about an ATHENE annuity. I called the company so I could read their annuity contract. They won't let you read it until you buy it. That should be enough information to convince any sensible and sane person not to buy the product. If not, I have no sympathy for you.