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Athene Annuity and Life Company: A Review (2023)

man writing on athene annuity and life company paperwork with ink pen

Getting To Know Athene Annuity And Life Company

Few things in life are certain beyond death and taxes. However, good insurance is a third item on that list that often needs to be noticed. Having insurance is essential to financial planning. Providing protection and peace of mind for individuals and their families while ensuring you have a plan for the unexpected.

Choosing a reputable, financially capable provider ensures payment of any filed claims, and coverage remains in place when it’s needed most. One of the most popular and reputable insurance companies in the West Des Moines, IA, area is Athene Annuity and Life Company.

In this article, we provide a comprehensive review of the Athene Company. First, we assess their financial strength, insurance products, and claims-paying ability. Next, we cover the company’s history, current headquarters location, and recent financial ratings. Next, we delve deeper into some of Athene Annuity Company’s insurance products, including discussing the fixed annuity and premium bonus option.

By the end of this article, readers will have a much more thorough understanding of Athene Annuity and Company. Better equipping you to make an informed decision when selecting an insurance company that suits your needs. Whether you are an existing customer, considering a change to your primary insurance provider, or want to learn more about how the insurance industry operates – this article aims to provide valuable insights.

Company Overview

History

Founded in 2009, Athene Annuity and Life Company is an Iowa-based insurance company that provides numerous annuity and life insurance products to individuals from all over the United States. In addition, they have several satellite offices around the country. The current Chairman and CEO, James R. Belardi, leads Athene Annuity and Life Company’s executive team. This CEO has more than three decades worth of experience in the insurance industry.

Financials Ratings

Athene Annuity and Life Company received high ratings from major credit rating agencies, including A.M. Best and S&P Global Ratings. As of April 2022, A.M. Best gave Athene Annuity and Life Company an “A” rating. This rating is considered “excellent” and reflects the organization’s financial stability and ability to pay claims. Other credit rating agencies have similarly rated Athene Annuity and Life Company highly.

Athene Annuity and Life Company established a solid reputation in the insurance industry by providing high-quality annuity and life insurance products to customers from all over the United States. Its solid financial ratings are evidence of the company’s ability to provide reliable coverage and fulfill promises to customers into the future.

Insurance Products

Athene Annuity and Life Company offer a diverse array of annuity contracts and rider products to meet the various needs of its customers. One of the key offerings is fixed annuities, which can provide a guaranteed rate of return on the investment and a fixed income stream for a predetermined amount of time.

Fixed annuities are generally a more attractive option for investors interested in a low-risk investment with a guaranteed rate of return. These annuities provide a stable income stream, which can be life-changing for retirees who want a steady source of income to supplement their retirement savings. One disadvantage of fixed annuities is that they often have lower returns than other investment options like stocks or mutual funds, but these options pose way more risks with no guaranteed rate of return.

The premium bonus option is a unique aspect of Athene Annuity and Life Company’s fixed annuities. Thanks to this option, customers can receive a bonus on their initial premium payment, which can increase the overall value of the annuity. The premium bonus may vary depending on the annuity product. Still, bonuses can constitute up to 10 percent of the premium payment, which may be a substantial figure in some cases.

The premium bonus option is desirable for customers interested in maximizing their returns on their investment(s). However, savvy shoppers must know that the bonus is usually subject to certain conditions, such as minimum premium payment and holding period. Furthermore, the customer may forfeit the bonus if the funds are withdrawn from the annuity prematurely.

Ultimately, Athene Annuity and Life Company’s fixed annuities with the premium bonus option can be a solid solution for investors seeking a relatively low-risk investment with a guaranteed rate of return and the potential for a bonus on their initial premium payment.

Financial Strength

An insurance company’s financial capabilities are usually measured and determined by assessing its ability to meet financial obligations like paying claims and honoring policy guarantees. As alluded to earlier, independent credit ratings are reviews conducted by independent credit ratings agencies – like A.M. Best or S&P Global Ratings – which assign ratings based on a company’s financial prowess, stability, and claims-paying ability.

Athene Annuity and Life Company have continually received high ratings from the major credit rating agencies, indicating its robust financial strength and ability to meet its financial obligations. As recently as April 2022, A.M. Best gave Athene Annuity and Life company an “A” rating, and the company has consistently been given high ratings since its founding in 2009.

Suppose you compare Athene Annuity and Life Company’s financial strength and capabilities as an insurance provider to other popular insurance companies. In that case, comparing ratings assigned by these independent third parties is often useful. For example, AIG, a popular global insurance company, has similar ratings from A.M. Best and S&P Global Ratings (A and A-, respectively).

While solid financial ratings may demonstrate a company’s ability to provide reliable coverage and fulfill its promises to customers, consider other important factors when choosing an insurance company that works for your specific needs.

Claims Paying Ability

As evidenced by their high financial ratings, Athene Annuity and Life Company has a solid claims-paying ability, a crucial variable to consider when evaluating insurance companies. In addition, Athene Annuity and Life Company have consistently demonstrated their ability to pay claims promptly and justly, reflected by the high volume of positive customer satisfaction ratings.

According to the National Association of Insurance Commissioners (NAIC), Athene Annuity and Life Company had a complaint ratio of only 0.16 in 2020, significantly less than the industry average of 1.00. This complaint ratio means that the company received much fewer complaints than other insurance companies and might suggest that customers are highly satisfied with the company’s claims handling process.

Additionally, customer reviews of Athene Annuity and Life Company are generally quite positive, with many customers praising the company’s effective customer service and claim-handling process. Customers also broadly report prompt, considerate handling of claims, as well as knowledgeable and helpful customer service representatives and financial professionals.

When you are unsure about an organization’s ability to pay claims and want to know about other customer experiences, reading customer reviews or testimonials and seeking out the opinions of industry experts can provide invaluable insight into an insurance company’s claims-paying ability and customer service.

By conducting thorough research before choosing an insurance company, you ensure your selection is a reputable, reliable provider that can address your specific coverage needs.

Working with Athene Annuity and Life Company

Customers searching for a company that can provide reliable annuity products should look no further than Athene Annuity and Life Company. With substantial financial ratings and powerful claims-paying abilities, Athene Annuity and Life Company offer competitive annuity products, attractive interest rates and the option for premium bonuses as well. In addition, customers overwhelmingly report high satisfaction the company’s customer service and claims-handling process.

Still, it can be important to shop around to ensure you get the best possible deal that aligns with your specific needs. Shopping around can also give customers a greater understanding of their options and an overview of how the industry operates. It’s essential to understand all the costs associated with a policy, including any fees or surrender charges, and to comprehensively assess whether offers like a premium bonus option align with your financial goals.

Regarding the company’s future and the insurance industry, Athene Annuity, and Life Company has consistently demonstrated an enviable track record of financial stability and customer satisfaction. In addition, the organization’s parent company, Athene Holding Ltd., has also made strategic acquisitions and intelligent partnerships to expand its business in recent years. The insurance industry continues to evolve to meet changing customer needs. Athene Annuity and Life Company is expertly poised to remain competitive in the market for years to come.


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