bca - stan the annuity man®€¦ · bca balancedchoice annuity balancedchoice annuity family...

A single premium fixed indexed deferred annuity is a long-termretirement savings product that can help protect you from outlivingyour money. It’s a contract between you and an insurance company. Inreturn for your money, or premium, the insurance company agrees toprovide certain benefits.

When you put money into an Athene fixed indexed deferred annuity,you create something that can grow over the years, and then, at a latertime, can pay you an income for a period of time, even for a lifetime.

And since it’s your money, we’ve made sure our annuities have manyoptions so they can be customized for you, your family and your life.

A Disclosure Summary and a Buyer’s Guide to Fixed Indexed Deferred Annuities must accompany this illustration. If you have not received these documents, please request them from yourfinancial professional.

of 18 pages This illustration is not valid without all 18 pages.

7/11/2014 1:29 PM Prepared for Valued Client

BCA™BalancedChoice™ AnnuityA single premium fixed indexed deferred annuity

Prepared On: July 11,2014Prepared For: Valued Client

Prepared By: Stan The Annuity ManP.O. Box 2225Ponte Vedra Beach, FL 32004(800) [email protected]

This is a hypothetical Illustration. An illustration isnot intended to predict actual performance. Interestrates or values shown in the illustration are notguaranteed, except for those labeled as guaranteed.

Athene Annuity and Life Company7700 Mills Civic ParkwayWest Des Moines, IA 50266-3862Tel: 1 800 255 2405www.athene.com

BCABalancedChoice Annuity

BalancedChoice Annuity Family Endowment Rider®

with Premium Bonus



Finding a Balance. More than ever, a significantpopulation of Americans are living to 90 and above.There are opportunities available today that canreduce the guesswork and address these retirementissues more effectively than ever before.BalancedChoice Annuity is a single premium indexeddeferred annuity that has been developed specificallyto be an integral part of a sound, long-term retirementplan and to help turn your vision of retirement into areality by offering:

• The guarantees and security you need for yourretirement savings, including a premium protectionfeature

• The opportunity for long-term accumulation of yourprincipal

• Flexibility to access your retirement savings

• The opportunity to create a guaranteed lifetimeincome

• Tax deferral

BalancedChoice Annuity allows you to choose howinterest is credited to your annuity by means of theBalancedAllocation Strategy®. There is a charge forthis Strategy Rider.

Preserve a legacy. The BalancedChoice Annuity offersa patent-pending Family Endowment Rider (FER™) thathelps ensure a legacy for your beneficiaries by:

• Guaranteeing a death benefit to beneficiaries thatpays a minimum amount equal to your initialpremium, accumulated at a specified percent (lessany prior withdrawals)

• Protecting your legacy against market downturns

• Preserving a value that will be passed to yourbeneficiaries even if you need to take somewithdrawals

• With the FER, your beneficiary will receive the greaterof the base contract death benefit or the benefitprovided by this rider

• The Premium Bonus rider provides a one-time bonuswhich enhances the Accumulation Value

There is a charge for this Rider.

1 The index element is linked to the performance of the S&P 500® Index.


Hypothetical IllustrationAssumed Issue Date: July 11, 2014



BCA – BalancedChoice Annuity A single premium fixed indexed deferred annuity

Owner/Annuitant: Valued Client Age/Gender: 60/Male

Issue State: Florida Tax Qualification: Qualified (including RMDs) Initial Premium Amount: $100,000

Illustration Explanation

Product Details What does this annuity illustration tell you?

To help explain how this product works, this illustration shows annuity contractvalues under the following scenarios: guaranteed annuity contract values thatshow minimum values, non-guaranteed annuity contract values based on thehistorical index performance of the most recent 10 years, and non-guaranteedannuity contract values based on the historical index performance over theSpecified Period (12/31/1983 - 12/31/2013), all of which apply rates and ridercharges that are current as of 07/11/2014.

The illustration also includes hypothetical annuity contract values using thefollowing index return scenarios: the most recent 10-years, the highest 10-yearindex movement out of the last 20 years, and the lowest 10-year indexmovement out of the last 20 years. See page 11 for specified time periods.

The hypothetical contract values are calculated based on historical index pricesand assume the index will repeat historical performance and that the annuity'scurrent non-guaranteed elements will not change. It is likely that the index willnot repeat historical performance, the non-guaranteed elements will change,and actual values will be higher or lower than those in this illustration. However,the actual values will not be less than the minimum guarantees. The values inthis illustration are not guarantees or even estimates of the amounts you canexpect to receive.

BalancedChoice Annuity 12The BalancedAllocation

Foundation Series

Family Endowment Rider (FER) with 10% Premium Bonus Rider®

Initial Annual EDB Rider Charge Rate: 0.85%FER Benefit Interest Rate: 4.00%Premium Bonus: $10,000

Declared Rate: 1.00%Rate established by Atheneat the beginning ofeach TermInitial Annual Strategy Rider Charge Rate: 1.50%

Index AllocationPercentage1

Declared Rate AllocationPercentage

1Please see page 16 for information regarding RMD calculations.2Cash Surrender Value (CSV) does not include applicable Market Value Adjustments (MVA). See possible implications of MVA on your CSV on page 15.3The actual Death Benefit paid out is the greater of the Base Death Benefit and the Family Endowment Rider.



This hypothetical illustration is based on the allocation percentages and rates that are current as of the Assumed Issue Date of this illustration. This hypothetical illustration is based on a $100,000 InitialPremium Amount.

Base Contract Values Family

Year EndingBeginning of

Year AgeEnd of

Year AgeRMD

Withdrawals1

MinimumGuaranteed

ContractValue

CashSurrender

Value2

AccumulationValue

Base DeathBenefit3

Endowment Rider

Death Benefit3 (4.00%)

CumulativeWithdrawals

07/2015 60 61 $0 $87,520 $87,520 $107,500 $110,000 $104,000 $007/2016 61 62 $0 $87,507 $87,507 $105,003 $110,000 $108,160 $007/2017 62 63 $0 $87,457 $87,457 $101,984 $110,000 $112,486 $007/2018 63 64 $0 $87,371 $87,371 $98,988 $110,000 $116,986 $007/2019 64 65 $0 $87,245 $87,245 $96,014 $110,000 $121,665 $007/2020 65 66 $0 $87,077 $87,077 $93,060 $110,000 $126,532 $007/2021 66 67 $0 $86,866 $86,866 $90,123 $110,000 $131,593 $007/2022 67 68 $0 $86,611 $86,611 $87,202 $110,000 $136,856 $007/2023 68 69 $0 $86,307 $86,307 $84,295 $110,000 $142,331 $007/2024 69 70 $0 $85,954 $85,954 $81,399 $110,000 $148,024 $007/2025 70 71 $3,137 $82,411 $82,411 $75,376 $106,863 $150,808 $3,13707/2026 71 72 $3,110 $78,837 $78,837 $69,477 $103,753 $153,615 $6,24707/2027 72 73 $3,080 $75,233 $100,674 $63,702 $100,674 $156,244 $9,32607/2028 73 74 $4,076 $70,574 $96,598 $57,024 $96,598 $155,772 $13,40207/2029 74 75 $4,059 $65,889 $92,539 $50,501 $92,539 $154,290 $17,46107/2030 75 76 $4,041 $61,189 $88,498 $44,138 $88,498 $151,505 $21,50207/2031 76 77 $4,023 $56,483 $84,475 $37,945 $84,475 $147,052 $25,52507/2032 77 78 $3,985 $51,806 $80,491 $31,951 $80,491 $140,564 $29,50907/2033 78 79 $3,965 $47,158 $76,526 $26,153 $76,526 $131,407 $33,47407/2034 79 80 $3,924 $42,582 $72,601 $20,588 $72,601 $118,983 $37,39907/2035 80 81 $3,882 $39,126 $68,719 $16,294 $68,719 $99,483 $41,28107/2036 81 82 $3,839 $35,678 $64,880 $12,129 $64,880 $78,265 $45,12007/2037 82 83 $3,794 $32,240 $61,086 $8,092 $61,086 $55,206 $48,91407/2038 83 84 $3,748 $28,815 $57,338 $4,183 $57,338 $30,179 $52,66207/2039 84 85 $3,699 $25,404 $53,639 $400 $53,639 $3,052 $56,36107/2040 85 86 $392 $25,266 $53,247 $0 $53,247 $0 $56,75307/2041 86 87 $0 $25,519 $53,247 $0 $53,247 $0 $56,753



Here’s a View of Guaranteed Annuity Contract Values Annual Assumed Interest Rate: 0.00%




This hypothetical illustration is based on the allocation percentages and rates that are current as of the Assumed Issue Date of this illustration. This hypothetical illustration is based on a $100,000 InitialPremium Amount.



Year AgeEnd of

Year AgeRMD

Withdrawals1

MinimumGuaranteed

ContractValue

CashSurrender

Value2

AccumulationValue

Base DeathBenefit3

Endowment Rider



07/2042 87 88 $0 $25,774 $53,247 $0 $53,247 $0 $56,75307/2043 88 89 $0 $26,031 $53,247 $0 $53,247 $0 $56,75307/2044 89 90 $0 $26,292 $53,247 $0 $53,247 $0 $56,75307/2045 90 91 $0 $26,555 $53,247 $0 $53,247 $0 $56,75307/2046 91 92 $0 $26,820 $53,247 $0 $53,247 $0 $56,75307/2047 92 93 $0 $27,088 $53,247 $0 $53,247 $0 $56,75307/2048 93 94 $0 $27,359 $53,247 $0 $53,247 $0 $56,75307/2049 94 95 $0 $27,633 $53,247 $0 $53,247 $0 $56,753

What Happens on my Contract’s Annuity Date?

On the Contract’s Annuity Date, you can elect a guaranteed stream of income that will last as long as your retirement. There are a variety of payout options availableto meet your needs.

As illustrated, this Contract would annuitize on 07/2049. Below is an example of the guaranteed income stream that you would receive on this Contract based uponthe Guaranteed Annuity Contract Values above. These values are calculated based upon the guaranteed Cash Surrender Value assuming a 10 year certain in lifesettlement option on the life of Valued Client.

Guaranteed Annuitization Factor: 7.66 Guaranteed Monthly Payment: $408



Here’s a View of Guaranteed Annuity Contract Values (continued) Annual Assumed Interest Rate: 0.00%




This hypothetical illustration is based on the allocation percentages and rates that are current as of the Assumed Issue Date of this illustration. This hypothetical illustration is based on a $100,000 InitialPremium Amount. Interest credits, if any, are applied at the end of each two-year Term. Please see page 4 for guaranteed values.



Year AgeEnd of

Year AgeRMD

Withdrawals1

CashSurrender

Value2

AccumulationValue

BalancedAllocation

Value

Base DeathBenefit3

Endowment Rider



07/2015 60 61 $0 $87,520 $107,500 $116,165 $116,165 $104,000 $007/2016 61 62 $0 $96,884 $122,612 $122,612 $122,612 $108,160 $007/2017 62 63 $0 $96,560 $119,854 $129,514 $129,514 $112,486 $007/2018 63 64 $0 $109,291 $136,737 $136,737 $136,737 $116,986 $007/2019 64 65 $0 $109,508 $133,691 $144,467 $144,467 $121,665 $007/2020 65 66 $0 $124,723 $152,562 $152,562 $152,562 $126,532 $007/2021 66 67 $0 $124,887 $149,198 $161,223 $161,223 $131,593 $007/2022 67 68 $0 $142,330 $170,298 $170,298 $170,298 $136,856 $007/2023 68 69 $0 $142,427 $166,581 $180,007 $180,007 $142,331 $007/2024 69 70 $0 $162,421 $190,185 $190,185 $190,185 $148,024 $007/2025 70 71 $6,941 $155,416 $179,651 $194,131 $194,131 $147,004 $6,94107/2026 71 72 $6,779 $174,056 $198,393 $198,393 $198,393 $146,104 $13,72007/2027 72 73 $7,750 $187,905 $187,003 $202,076 $202,076 $144,199 $21,47007/2028 73 74 $7,607 $206,049 $206,049 $206,049 $206,049 $142,399 $29,07807/2029 74 75 $8,658 $194,627 $193,736 $209,351 $209,351 $139,575 $37,73507/2030 75 76 $8,499 $212,947 $212,947 $212,947 $212,947 $136,927 $46,23407/2031 76 77 $9,679 $200,498 $199,631 $215,722 $215,722 $133,169 $55,91307/2032 77 78 $9,457 $218,833 $218,833 $218,833 $218,833 $129,638 $65,37107/2033 78 79 $10,780 $205,301 $204,473 $220,953 $220,953 $124,925 $76,15107/2034 79 80 $10,528 $223,412 $223,412 $223,412 $223,412 $120,476 $86,67907/2035 80 81 $11,947 $209,780 $209,005 $225,851 $225,851 $110,072 $98,62607/2036 81 82 $11,720 $228,674 $228,674 $228,674 $228,674 $100,239 $110,34607/2037 82 83 $13,373 $213,577 $212,869 $230,026 $230,026 $89,449 $123,71807/2038 83 84 $13,103 $231,734 $231,734 $231,734 $231,734 $79,363 $136,82107/2039 84 85 $14,951 $215,036 $214,423 $231,705 $231,705 $68,416 $151,77207/2040 85 86 $14,529 $232,096 $232,096 $232,096 $232,096 $58,343 $166,30107/2041 86 87 $16,461 $213,885 $213,381 $230,580 $230,580 $47,578 $182,76207/2042 87 88 $15,962 $229,465 $229,465 $229,465 $229,465 $37,819 $198,724



Here’s a View of Non-Guaranteed Annuity Contract Values30-Year Backcast: The Assumed Interest Rate does not reflect charges. However, charges are reflected in the Accumulation Value.

Annual Assumed Interest Rate: 8.06%




This hypothetical illustration is based on the allocation percentages and rates that are current as of the Assumed Issue Date of this illustration. This hypothetical illustration is based on a $100,000 InitialPremium Amount. Interest credits, if any, are applied at the end of each two-year Term. Please see page 4 for guaranteed values.



Year AgeEnd of

Year AgeRMD

Withdrawals1

CashSurrender

Value2

AccumulationValue

BalancedAllocation

Value

Base DeathBenefit3

Endowment Rider



07/2043 88 89 $18,068 $209,667 $209,303 $226,173 $226,173 $27,557 $216,79207/2044 89 90 $17,472 $223,264 $223,264 $223,264 $223,264 $18,434 $234,26407/2045 90 91 $19,585 $201,996 $201,791 $218,056 $218,056 $9,061 $253,84907/2046 91 92 $18,703 $213,393 $213,393 $213,393 $213,393 $942 $272,55207/2047 92 93 $20,921 $190,863 $190,832 $206,213 $206,213 $0 $293,47307/2048 93 94 $19,882 $199,610 $199,610 $199,610 $199,610 $0 $313,35407/2049 94 95 $21,935 $176,316 $176,316 $190,528 $190,528 $0 $335,289


On the Contract’s Annuity Date, you can elect a non-guaranteed stream of income that will last as long as your retirement. There are a variety of payout optionsavailable to meet your needs.

As illustrated, this Contract would annuitize on 07/2049. Below is an example of the non-guaranteed income stream that you would receive on this Contract basedupon the Non-Guaranteed Annuity Contract Values above. These values are calculated based upon the non-guaranteed Cash Surrender Value assuming a 10 yearcertain in life settlement option on the life of Valued Client.

Non-Guaranteed Annuitization Factor: 7.66 Non-Guaranteed Monthly Payment: $1,351



Here’s a View of Non-Guaranteed Annuity Contract Values (continued)30-Year Backcast: The Assumed Interest Rate does not reflect charges. However, charges are reflected in the Accumulation Value.





This hypothetical illustration is based on the allocation percentages and rates that are current as of the Assumed Issue Date of this illustration. This hypothetical illustration is based on a $100,000 InitialPremium. Interest credits, if any, are applied at the end of each two-year Term. Please see page 4 for guaranteed values.



Year AgeEnd of

Year AgeRMD

Withdrawals1

CashSurrender

Value2

AccumulationValue

BalancedAllocation

Value

Base DeathBenefit3

Endowment Rider



07/2015 60 61 $0 $87,520 $107,500 $114,029 $114,029 $104,000 $007/2016 61 62 $0 $93,445 $118,146 $118,146 $118,146 $108,160 $007/2017 62 63 $0 $92,812 $115,455 $122,467 $122,467 $112,486 $007/2018 63 64 $0 $101,507 $126,881 $126,881 $126,881 $116,986 $007/2019 64 65 $0 $101,338 $123,983 $131,514 $131,514 $121,665 $007/2020 65 66 $0 $111,476 $136,245 $136,245 $136,245 $126,532 $007/2021 66 67 $0 $111,201 $133,126 $141,212 $141,212 $131,593 $007/2022 67 68 $0 $122,348 $146,283 $146,283 $146,283 $136,856 $007/2023 68 69 $0 $121,953 $142,926 $151,607 $151,607 $142,331 $007/2024 69 70 $0 $134,201 $157,041 $157,041 $157,041 $148,024 $007/2025 70 71 $5,731 $127,887 $148,024 $157,015 $157,015 $148,213 $5,73107/2026 71 72 $5,586 $137,832 $157,050 $157,050 $157,050 $148,556 $11,31707/2027 72 73 $6,135 $148,196 $147,648 $156,616 $156,616 $148,363 $17,45207/2028 73 74 $6,000 $156,217 $156,217 $156,217 $156,217 $148,303 $23,45207/2029 74 75 $6,564 $146,944 $146,426 $155,319 $155,319 $147,686 $30,01607/2030 75 76 $6,417 $154,452 $154,452 $154,452 $154,452 $147,203 $36,43207/2031 76 77 $7,021 $144,748 $144,266 $153,028 $153,028 $146,109 $43,45307/2032 77 78 $6,828 $151,662 $151,662 $151,662 $151,662 $145,171 $50,28107/2033 78 79 $7,471 $141,551 $141,110 $149,681 $149,681 $143,564 $57,75207/2034 79 80 $7,259 $147,758 $147,758 $147,758 $147,758 $142,109 $65,01107/2035 80 81 $7,902 $138,487 $138,093 $146,480 $146,480 $134,372 $72,91207/2036 81 82 $7,737 $145,310 $145,310 $145,310 $145,310 $126,916 $80,64907/2037 82 83 $8,498 $135,464 $135,119 $143,326 $143,326 $118,876 $89,14707/2038 83 84 $8,311 $141,440 $141,440 $141,440 $141,440 $111,187 $97,45707/2039 84 85 $9,125 $131,003 $130,716 $138,655 $138,655 $102,955 $106,58207/2040 85 86 $8,852 $136,019 $136,019 $136,019 $136,019 $95,191 $115,43407/2041 86 87 $9,647 $125,111 $124,884 $132,469 $132,469 $86,988 $125,08107/2042 87 88 $9,337 $129,071 $129,071 $129,071 $129,071 $79,324 $134,417



Here’s a View of Non-Guaranteed Annuity Contract ValuesGeometric mean of the most recent 10 years: The Assumed Interest Rate does not reflect charges. However, charges are reflected in the Accumulation Value.





This hypothetical illustration is based on the allocation percentages and rates that are current as of the Assumed Issue Date of this illustration. This hypothetical illustration is based on a $100,000 InitialPremium. Interest credits, if any, are applied at the end of each two-year Term. Please see page 4 for guaranteed values.



Year AgeEnd of

Year AgeRMD

Withdrawals1

CashSurrender

Value2

AccumulationValue

BalancedAllocation

Value

Base DeathBenefit3

Endowment Rider



07/2043 88 89 $10,163 $117,711 $117,553 $124,693 $124,693 $71,302 $144,58007/2044 89 90 $9,809 $120,474 $120,474 $120,474 $120,474 $63,892 $154,38907/2045 90 91 $10,568 $108,789 $108,704 $115,306 $115,306 $56,267 $164,95707/2046 91 92 $10,073 $110,402 $110,402 $110,402 $110,402 $49,360 $175,03007/2047 92 93 $10,824 $98,554 $98,542 $104,527 $104,527 $42,348 $185,85407/2048 93 94 $10,266 $98,947 $98,947 $98,947 $98,947 $36,099 $196,12007/2049 94 95 $10,873 $87,212 $87,212 $92,509 $92,509 $29,905 $206,993


On the Contract’s Annuity Date, you can elect a non-guaranteed stream of income that will last as long as your retirement. There are a variety of payout optionsavailable to meet your needs.

As illustrated, this Contract would annuitize on 07/2049. Below is an example of the non-guaranteed income stream that you would receive on this Contract basedupon the Non-Guaranteed Annuity Contract Values above. These values are calculated based upon the non-guaranteed Cash Surrender Value assuming a 10 yearcertain in life settlement option on the life of Valued Client.

Non-Guaranteed Annuitization Factor: 7.66 Non-Guaranteed Monthly Payment: $668



Here’s a View of Non-Guaranteed Annuity Contract Values (continued)Geometric mean of the most recent 10 years: The Assumed Interest Rate does not reflect charges. However, charges are reflected in the Accumulation Value.


* The Assumed Interest Rate does not reflect charges. However, charges are reflected in the Accumulation Value.


Historical Index Movement ComparisonAssumed Issue Date: July 11, 2014

The following comparison chart is intended to reflect the Accumulation Value based upon the historical performance of the index under three different scenarios, asdescribed below. This chart assumes current rider charges and current rates as shown on page 3 of this illustration. This chart assumes no withdrawals are taken inthe first 10 Contract Years. The values shown are not guaranteed; actual results may be higher or lower.

For the Most Recent 10 scenario, theindexed-based interest rate andAccumulation Value are calculated toreflect the historical performance of theindex for the most recent 10 calendar yearperiod.

The Highest index scenario reflects thehistorical performance of the index for acontinuous period of 10 years out of thelast 20 years that would result in the mostindex value growth.

The Lowest index scenario reflects thehistorical performance of the index for acontinuous period of 10 calendar years outof the last 20 years that would result in theleast index value growth.

ContractYear

Geometric Mean Assumed Interest Rate* = 6.07% Geometric Mean Assumed Interest Rate* = 11.15% Geometric Mean Assumed Interest Rate* = 4.02%



Historical Index Movement Comparison - Most Recent 10, Highest, and Lowest Periods

AssumedInterest Rate

Accumulation Value AssumedInterest Rate

Accumulation Value AssumedInterest Rate

Accumulation Value

1 N/A $107,500 N/A $107,500 N/A $107,5002 9.19% $114,651 43.91% $151,110 0.00% $105,0033 N/A $112,012 N/A $147,924 N/A $102,5094 12.94% $123,533 42.53% $206,304 0.00% $100,0155 N/A $120,686 N/A $202,215 N/A $97,5216 0.00% $117,841 12.32% $222,555 32.54% $125,9407 N/A $114,998 N/A $218,141 N/A $122,9758 9.55% $122,864 0.00% $213,751 11.96% $134,3669 N/A $119,857 N/A $209,381 N/A $131,188

10 33.49% $155,978 24.94% $256,158 0.00% $128,010


Historical Index Movement ComparisonAssumed Issue Date: July 11, 2014

The following graph is intended to reflect the movement of the Accumulation Value for each of the three scenarios above.

The table below shows the Most Recent 10, Highest, and Lowest time periods of index movement and the corresponding index closing values for each index respectively.

Index Most Recent 10 Highest Lowest

S&P 500® Index



Historical Index Movement Comparison - Most Recent 10, Highest, and Lowest Periods

12/31/2003 - 12/31/20131111.92 - 1848.36

12/13/1994 - 12/13/2004450.15 - 1198.68

03/09/1999 - 03/09/20091279.84 - 676.53

1 Interest earned, if any, is credited on Term end date. The strategy rider charge is taken out of the Accumulation Value monthly. Other optional rider charges are taken out of theAccumulation Values monthly, and the Minimum Guaranteed Contract Value, in applicable states.2 This can be found in Disclosure Summary or Contract.


Product Information

BalancedAllocation Strategy OptionsThe patented BalancedAllocation Strategy allows you to choose from differentoptions. These options determine your interest using a formula combining anindex allocation and declared rate allocation.The index element is linked to the performance of a market index or blend ofindices. The declared rate is based on an interest rate set by the company. Theappreciation if any, from the declared rate allocation plus the index allocation ifany, are added together to determine the amount of interest earnings under thestrategy. This patented BalancedAllocation Strategy offers you the potential forbetter long-term accumulation, particularly in periods of low interest rates.It’s important to note that that your contract applies an annual strategy ridercharge by multiplying the Accumulation Value and a strategy charge rate onevery Contract Anniversary. A portion of that charge (1/12th) is deducted fromthe contract’s Accumulation Value at the beginning of every month. Strategycharge rates are set at contract issue and can change for each renewal Term.

Premium ProtectionWith the BalancedChoice Annuity , the premium protection feature (referred toas the Return of Premium Guarantee in the contract) ensures that any strategyand/or optional rider charges in your contract will never result in you getting backless than the Premium paid, plus any applicable Premium Bonus, minus anyWithdrawals, provided the contract is not surrendered during the WithdrawalCharge Period and no early Withdrawals are taken in excess of your contract’sFree Withdrawal amount. Therefore, if the contract is surrendered before theWithdrawal Charge Period or if early Withdrawals are taken in excess of the FreeWithdrawal amount, you could receive less than your original premium.

Free WithdrawalsThe BalancedChoice Annuity allows you to access your money should the needallows you to access your money should the need arise. You may withdraw 5%of your Accumulation Value during the first 12 months. Thereafter, you maywithdraw up to 10% of your Accumulation Value each subsequent 12-monthperiod.

No Traditional CapsThere are no traditional caps placed on the upside earnings potential of theBalancedAllocation Strategy. Although the BalancedChoice Annuity has notraditional cap on indexed earnings, the Index Allocation option percentages aredetermined by the Athene Annuity and Life Company.

Premium Bonus Rider with Family Endowment RiderThe BalancedChoice Annuity offers an optional Premium Bonus Rider combinedwith Family Endowment Rider (referred to in the Contract as the Enhanced DeathBenefit with Premium Bonus). This rider will credit a Premium Bonus immediatelyto your Accumulation Value. While the Premium Bonus Rider enhances yourAccumulation Value, the Family Endowment Rider guarantees that yourBeneficiaries will receive the greater of the Base Death Benefit or the deathbenefit provided by this rider. This Death Benefit is provided upon the Annuitant’s death. The Family Endowment Rider is also available without the PremiumBonus Rider.Also, any withdrawals in excess of the Free Withdrawal amount will incur aPremium Bonus Recapture Charge, listed below as the Withdrawal ChargePeriod.The Rider charges are calculated at the beginning of each Contract Year bymultiplying the EDB Crediting Base2 and the Annual Enhanced Death BenefitRider Charge Rate. One-twelfth of that calculated charge is deducted from boththe Accumulation Value and the Minimum Guaranteed Contract Value, inapplicable states, every month until the termination of the Enhanced DeathBenefit Rider. The Annual Enhanced Death Benefit Rider Charge Rate is definedin the contract for two periods of time, the first being the initial years for whichthe Withdrawal Charges apply, and the second being all years thereafter.



BalancedAllocation StrategyThe appreciation from a predetermined blend

Index Allocation+ Declared Rate Allocation

Interest Earnings Under theBalancedAllocation Strategy

BalancedAllocation Strategy

Your Premium+

Interest Earned1

-Charges1 and Withdrawals

=Accumulation

Value


Product Information



Withdrawal Charges

Contract Year 1 2 3 4 5 6 7 8 9 10 11 12

Withdrawal Charge Rate 14.50% 14.00% 13.50% 13.00% 12.00% 11.00% 10.00% 9.00% 8.00% 7.00% 6.00% 4.00%

Bonus Recapture Charge Rate 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00%


Definition of Terms

30-Year Backcast – The interest-crediting rate assumed for the projected, non-guaranteed Accumulation Value column is based on the Contract’sBalancedAllocation Strategy option selected and the current charges for thatoption and any riders selected as of the Assumed Issue Date of this illustrationIndex Allocation of the BalancedAllocation Strategy is applied to the historicalmovement of the S&P 500® Index (excluding dividends), then averaged over themost recent 30-year period ending 12/31/2013.Accumulation Value – Premium plus interest credited, plus Premium Bonus,minus withdrawals and any applicable chargesAnnuitization – Converting the Contract into a series of periodic payments on theAnnuity Date. Once the Contract is annuitized, the amount or frequency of theannuity payments cannot be stopped or modified.Annuity Date – The date annuity payments are to beginAssumed Interest Rate – A hypothetical interest rated credited to the annuity’sAccumulation Value. The rate will vary based on different historical scenarios.Assumed Issue Date – The effective date that reflects the Company's currentrates as of that dayBalanced Allocation Value – The greater of the Accumulation Value plus anyinterest for the current Term or the Return of Premium Guarantee Amount.Base Death Benefit – Equal to the greater of the Cash Surrender Value or theBalanced Allocation Value (the actual Death Benefit amount paid to thebeneficiaries upon the death of the annuitant is the greater of the FER DeathBenefit or the Base Death Benefit).Beginning of Year Age – The beginning of year age(s) is the age(s) at thebeginning of the Contract.Cash Surrender Value – The greater of the Accumulation Value, adjusted for anywithdrawals, applicable charges and Market Value Adjustments, the MinimumGuaranteed Contract Value or the Return of Premium Guarantee Amount which iszero until the end of the 12th Contract Year.Contract Year – Contract Years are determined from the Assumed Issue Date. (Forexample, If the Contract's Assumed Issue Date is January 10, 2014, the firstContract Year ends January 9, 2015)Cumulative Withdrawals – Year over year sum of Free Partial Withdrawals,Required Minimum Distributions, Lifetime Income Withdrawals and ConfinementBenefit, if applicable

Declared Rate Allocation Percentage – The component of the interest creditingcalculation that is linked to a set declared rate determined by the CompanyEnd of Year Age – The end of year age(s) is the age(s) at the beginning of theContract, plus the number of Contract YearsFamily Endowment Rider Death Benefit – Equal to the Initial Premium Amountaccumulated at the FER benefit percent until the rider charges no longer apply, lessany withdrawals (the actual Death Benefit amount paid to the beneficiaries uponthe death of the annuitant is the greater of the Family Endowment Rider DeathBenefit or the Base Death Benefit).Index Allocation Percentage – The component of the interest creditingcalculation that is linked to the market index performanceInitial Premium Amount – The amount paid for the annuityMinimum Guaranteed Contract Value – The minimum value of the Contract,required by law, while the Contract is in-forcePremium Bonus – An amount added to the annuity’s Accumulation Value atContract issue. It is equal to the Initial Premium Amount multiplied by apercentage. The percentage is shown in the product details section on page .Required Minimum Distribution (RMD) Withdrawals – The minimum amountsrequired by the Internal Revenue Code that a tax qualified Contract owner mustwithdraw annually. Generally these withdrawals must commence in the yearfollowing the year he or she reaches 70½ years of age.Term – The length of time, in whole years, between the crediting of interestearningsYear Ending – Each 12-month period of time starting from the Assumed IssueDate




Market Value Adjustment

Market Value Adjustment (MVA)



The Potential Impact of a Market Value Adjustment (MVA) on Cash Surrender Values

Positive Sample Scenario

Shows the effect of a MVA on the hypotheticalCash Surrender Value if the interest rateDECREASES 0.5% each year from the assumedinitial interest rate.

Negative Sample Scenario

Shows the effect of a MVA on the hypotheticalCash Surrender Value if the interest rateINCREASES 0.5% each year from the assumedinitial interest rate.

• When you make a withdrawal in excess of the freeamount during the annuity’s withdrawal chargeperiod, the amount you receive may be increasedor decreased by a Market Value Adjustment(MVA).

• If the 10 Year Point on the A Rated US BloombergFair Value Curve interest rates are higher thanwhen you purchased your annuity, the MVA isnegative. In other words, an additional amountwill be deducted from your annuity. Conversely, if10 Year Point on the A Rated US Bloomberg FairValue Curve interest rates are lower than whenyou purchased an annuity, the MVA is positive.This means that money will be added to yourannuity, which reduces the withdrawal charge.

• If the MVA is negative, the MVA can neverdecrease the amount surrendered or withdrawn bymore than 75% of any Interest Credits and/orPremium Bonus credited to your annuity contract.

• The MVA has no effect on the death benefit.

• Withdrawal Charges, Premium Bonus RecaptureCharges and MVA are never applied towithdrawals from an IRA or qualified contracttaken to satisfy the Required MinimumDistribution for that contract.

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Additional Information

Illustration OnlyThis is an illustration only and designed to help you better understand how theannuity product you are considering works and might look in the future undervarious conditions. This illustration is not intended to indicate actual performancenor predict future results. The hypothetical, non-guaranteed values shown arecalculated in reference to the historical performance of the index as indicated. Thisillustration assumes current allocation option percentages and other non-guaranteed rates as of the Assumed Issue Date. These rates are subject to change.It is likely that the index will, in fact, not repeat historical performance and thatnon-guaranteed elements will change over time. This means that actual non-guaranteed values may be higher or lower than those shown in this illustration.

Not a Stock Market InvestmentFixed indexed annuities are not stock market investments and do not directlyparticipate in any stock or equity investments. Market indices do not includedividends paid on the underlying stocks, and therefore do not reflect the totalreturn of the underlying stocks; neither a market index nor any market-indexedannuity is comparable to a direct investment in the equity markets. Indexedannuities do not directly participate in any stock or equity investments. When youpurchase the BalancedChoice Annuity, you are not directly investing in a stockmarket index.

Not FDIC InsuredSubject to the terms, conditions and limitations of the BalancedChoice Annuity andthe BalancedAllocation Lifetime Income Rider (BALIR). Guarantees provided byannuities are subject to the financial strength of the issuing insurance company;not guaranteed by any bank or the FDIC. The BALIR and the BalancedChoiceAnnuity are issued and backed by the financial strength of Athene Annuity and LifeCompany, West Des Moines, IA and are not guaranteed by any bank or the FDIC.

Basic Tax InformationUnder current tax law, annuities provide the benefit of tax deferred accumulation.This means that as the Accumulation Value of your Contract grows, you do nothave to pay income tax on the interest credited to the contract until it is withdrawnor paid out as a death benefit.

It is important that you recognize that the effect of income taxes, or anyapplicable tax penalties, are not reflected in the values shown in thisillustration. Any applicable taxes or penalties would reduce the net amountthat you actually receive.

When you surrender your contract or take a Withdrawal from your contract youmay be subject to federal and state income taxes on some or all of the amountreceived. Generally, the tax treatment of your annuity contract will depend on avariety of factors, including whether your contract is comprised of non-qualified orqualified funds. A Death Benefit paid under the Contract is generally subject toincome taxes in the same way that a withdrawal or surrender would be subject toincome taxes during your life.

Please consult your tax advisor regarding the applicability of these rules to yourspecific situation. The information discussed in this and the next section is generalin nature and should not be construed in any way as tax advice. Neither AtheneAnnuity & Life Company nor its agents or employees are authorized to provide taxadvice.

Non-Qualified vs. Qualified ContractsNon-Qualified

For non-qualified contracts, withdrawals are generally subject to ordinary incometax to the extent of gain in the contract at the time of the withdrawal. This meansthat to the extent that interest has been credited to your contract, and notpreviously withdrawn, that portion of any distribution from your contract will be



Please refer to the Disclosure Summary document for the BalancedChoiceAnnuity, and for the BalancedAllocation Lifetime Income Rider, if elected,that must accompany this illustration for more details. Also refer to theinserts that describe the features and limitations of any additional ridersincluding the Premium Bonus Rider and Family Endowment Rider (referredto in the Contract as the Enhanced Death Benefit Rider.)

The BalancedChoice Annuity [BAA12 (09/09), BAA8 (09/09) and BAA10 (01/11)or state variation] with the BalancedAllocation Strategy Rider (BAABAS (02/13) orstate variation), is a fixed indexed annuity; the Family Endowment Rider [DBR(02/13), BDBR8 (02/13), SUDBR (02/13), BDBR12 (02/13) or state variation] andthe BalancedAllocation Lifetime Income Rider (BAAIR2 (02/13) or state variation),are optional riders from which charges are deducted. They are issued by AtheneAnnuity and Life Company, West Des Moines, IA. Product features, limitationsand availability vary by state.

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Additional Information (continued)subject to ordinary income tax. In addition, if you have not attained the age of 59½at the time of the withdrawal, a 10% tax penalty is applied to the taxable portionof that withdrawal.

However, if you convert your annuity Contract to a stream of payments on theAnnuity Date, each payment generally will receive exclusion ratio tax treatment –meaning that a portion of each payment will be taxed to the extent it representsgain in the contract, and a portion will be treated as a non-taxable recovery of yourcost basis (generally the Premium paid) in your Contract.

QualifiedA qualified contract means that you are purchasing the annuity within a retirementaccount or plan, such as a traditional IRA or an employer sponsored retirementplan. Generally, the funds in this type of contract have been established with pre-tax dollars, money which has not been subjected to income taxes, although theremay be a combination of pre-tax and after-tax dollars in such accounts. To theextent that the funds for a qualified contract have been made with pre-tax dollars,the entire amount of any withdrawal or death benefit will be subject to incometaxes. In addition, if you have not attained the age of 59½ at the time of thewithdrawal, a 10% tax penalty is applied to the taxable portion of that withdrawal.

If you have a qualified contract, such as an IRA, the illustration may reflect RequiredMinimum Distributions (RMDs). Such distributions generally must commence in theyear following the year in which you turn age 70½. The calculation for any RMDamount indicated on this hypothetical illustration is based on the previous year’sending Accumulation Value, and does not take into consideration the value ofbenefits provided by any additional riders. Therefore, keep in mind that the RMDamount shown is a projected amount that could be higher or lower. If the actualRMD amount that you must withdraw is higher than the amount illustrated, theremaining Accumulation Value and Death Benefit amounts will be correspondinglylower.

Purchasing an annuity within a retirement plan that provides tax deferral under theInternal Revenue Code results in no additional tax benefit. If you are purchasing anannuity to fund an IRA or Qualified plan, your purchase should be based on theannuity’s features other than tax deferral.

S&P 500® IndexThe “S&P 500® Index” (the “Index”) is a product of S&P Dow Jones Indices LLC (“

SPDJI”), and has been licensed for use by Athene Annuity and Life Company.Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’sFinancial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow JonesTrademark Holdings LLC (“Dow Jones”); “Standard & Poor’s®”, “S&P®”,“S&P 500®

”, “Standard & Poor’s 500” and “500” are trademarks of The McGraw-HillCompanies, Inc.; and these trademarks have been licensed for use by SPDJI andsublicensed for certain purposes by Athene Annuity and Life Company. The Productis not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, any oftheir respective affiliates (collectively, “S&P Dow Jones Indices”). S&P Dow JonesIndices makes no representation or warranty, express or implied, to the owners ofthe Product or any member of the public regarding the advisability of investing insecurities generally or in the Product particularly or the ability of the S&P 500®

Index to track general market performance. S&P Dow Jones Indices’ onlyrelationship to Athene Annuity and Life Company with respect to the S&P 500®

Index is the licensing of the Index and certain trademarks, service marks and/ortrade names of S&P Dow Jones Indices and/or its licensors. The S&P 500® Index isdetermined, composed and calculated by S&P Dow Jones Indices without regard toAthene Annuity and Life Company or the Product. S&P Dow Jones Indices have noobligation to take the needs of Athene Annuity and Life Company or the owners ofthe Product into consideration in determining, composing or calculating the S&P500® Index. S&P Dow Jones Indices are not responsible for and have notparticipated in the determination of the prices, and amount of the Product or thetiming of the issuance or sale of the Product or in the determination or calculationof the equation by which the Product is to be converted into cash, surrendered orredeemed, as the case may be. S&P Dow Jones Indices have no obligation orliability in connection with the administration, marketing or trading of the Product.There is no assurance that investment products based on the S&P 500® Index willaccurately track index performance or provide positive investment returns. S&PDow Jones Indices LLC is not an investment advisor. Inclusion of a security withinan index is not a recommendation by S&P Dow Jones Indices to buy, sell, or holdsuch security, nor is it considered to be investment advice.S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY,TIMELINESS AND/OR THE COMPLETENESS OF THE INDEX OR ANY DATA RELATEDTHERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL ORWRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITHRESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY



DB# 3.4.109/SYS# Server v1.0.1171.21304


Additional Information (continued)DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&PDOW JONES INDICES MAKE NO EXPRESS OR IMPLIED WARRANTIES, ANDEXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FORA PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY ATHENEANNUITY AND LIFE COMPANY, OWNERS OF THE PRODUCT, OR ANY OTHERPERSON OR ENTITY FROM THE USE OF THE INDEX OR WITH RESPECT TO ANYDATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NOEVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANYINDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGESINCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIMEOR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBLITY OF SUCHDAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE.THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS ORARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND ATHENE ANNUITYAND LIFE COMPANY, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.



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