MYG 3-Year with MVA review

Yes, for the right buyer. If your goal is a short-term, fully guaranteed rate with no market risk, no fees, and the backing of a financially strong carrier, this is a solid option. The competitive rate tiers — especially the higher band for premiums of $100,000 or more — make it worth comparing against CD and short-term MYGA alternatives. It is less appealing for anyone who cannot genuinely commit to three years or who lives in a state where the MVA applies and rates are rising.

The core reason to choose this product is certainty. You earn a fixed rate that Athene guarantees for the full three-year term, with no exposure to market downturns and no risk of the rate being reset mid-term. For someone who wants the tax-deferred growth treatment that an annuity provides — combined with the simplicity of a locked rate — this is a clean vehicle. The 10% free withdrawal provision starting in year 1 also makes it more flexible than many MYGAs that restrict access entirely for the first year.

I think the ideal buyer here is someone in their late 50s through mid-70s who has a defined three-year time horizon for a portion of retirement savings — for example, a bridge between now and Social Security or pension income, or a safe-money sleeve inside a broader allocation. It works well for both qualified money (IRA, 401(k) rollover) and non-qualified funds, and the RMD accommodation makes it genuinely practical for IRA assets. Someone who thinks there is any real chance they'll need the full principal within the three years should look at shorter or no-surrender alternatives first.

You are buying a contractual guarantee from Athene Annuity and Life Company: whatever rate is in force at issue is credited to your contract for the entire three-year period, regardless of what happens to interest rates in the market. There are two crediting strategies — the Multi-Year Fixed Strategy for your initial premium (locked for the full term) and the 1-Year Fixed Strategy for any additional premiums (renewed annually). The distinction matters if you make additional deposits. Your original money earns a single rate for three years; money added later is subject to renewal at whatever the 1-year rate is at each anniversary.

The Multi-Year Fixed Strategy is the product's headline: Athene credits your initial premium at a guaranteed rate for the entire three-year term. No cap, no participation rate, no index movement — just a fixed percentage applied to your accumulated value. As of the rate data available from Wink (April 2026), that rate was 4.65% annually for premiums under $100,000 and 4.95% for premiums at or above $100,000. These are current rates, not guaranteed future rates — they apply to new contracts issued at or near that time and will vary for contracts issued later. What does not vary once your contract is issued is your own locked rate.

The 1-Year Fixed Strategy operates differently. Additional premiums fall into this bucket and are credited at the 1-year rate in force at each contract anniversary, so the rate can change from year to year for that portion of your money.

The most meaningful secondary feature is the confinement and terminal illness waiver package. If you spend 60 or more consecutive days in a qualified care facility after the first contract year, surrender charges and the MVA are waived entirely, giving you access to full accumulated value. The terminal illness waiver operates the same way — if you receive a diagnosis with life expectancy under one year, charges are also waived after year 1. For a short-term MYGA, these provisions are genuinely useful because the three-year window is long enough that a health change is a realistic possibility.

The death benefit is also worth noting: your beneficiaries receive the greater of full accumulated value or the Minimum Guaranteed Contract Value, so there's no scenario in which a beneficiary receives less than the contract's floor.

A 3-year MYGA is a commitment, not a savings account. The surrender schedule is 8% in years 1 and 2, dropping to 7% in year 3. On top of those charges, in most states, the MVA — Market Value Adjustment — will also apply to surrenders that exceed the free-withdrawal amount. The MVA adjusts your payout based on changes in a benchmark interest rate index since your contract was issued: if rates have risen, the MVA reduces what you receive; if rates have fallen, it can increase it. The effect is not trivial in a rising-rate environment. MVA does not apply in AK, CT, HI, IN, MN, MO, NJ, OH, OR, PA, SC, or WA.

The free-withdrawal provision softens this meaningfully: you can take up to 10% of accumulated value per year without triggering surrender charges or MVA, starting in year 1. RMDs are treated as part of the free withdrawal even if they push you above the 10% threshold, which is a practical advantage for IRA money. The confinement and terminal illness waivers described above add additional exit flexibility in the right circumstances.

There are no ongoing fees on this product. No base contract fee, no rider charge, no spread eating into your credited rate. That is the right structure for a plain-vanilla MYGA, and Athene delivers it cleanly here.

The real cost of the product is indirect. First, the surrender charge and MVA combination means early exits can be expensive in rate-sensitive environments. Second, locking into a 3-year rate means you cannot participate in rate increases if the market moves up after your contract is issued — your gain is certainty, your cost is flexibility. Third, the 1-Year Fixed Strategy for additional premiums introduces renewal risk for any money added after the initial purchase.

Legal Entity: Athene Annuity and Life Company

Parent: Apollo Global Management

A.M. Best Rating: A+