Migliaccio & Rathod LLP is investigating whether Athene fixed-index annuity products, including Athene Agility 10 and related products, were marketed with growth illustrations that did not adequately disclose the risk of later cap-rate or participation-rate reductions.
Reported Issues
Consumers report:
- Purchasing Athene fixed-index annuities based on illustrated upside potential.
- Being told the product protected against market losses through a 0% floor.
- Later seeing crediting rates, participation rates, or caps reduced.
- Finding that the annuity’s upside potential declined after purchase.
- Being unable to leave without surrender charges.
Athene’s Agility materials describe indexed strategies that provide potential interest based on stock-market index movement and state that policyholders are guaranteed never to earn less than 0% interest; Athene’s current-rate materials also state that rates are subject to change.
Why Individuals Should Be Concerned
Potential claims include:
- Illustration fraud
- Misleading sales practices
- Breach of implied covenant
- Elder financial abuse
- Consumer protection violations
- Economic loss from reduced crediting
Signs You May Be Affected
- You purchased Athene Agility 10 or another Athene FIA.
- Your cap, participation rate, or crediting rate was reduced after purchase.
- Your actual credited interest was lower than expected.
- You relied on sales illustrations showing stronger upside.
- You faced surrender charges when trying to exit.
If you have encountered these issues, we would like to hear from you. Please complete the contact form on this page, send us an email at [email protected], or give us a call at (202) 470-3520.