MYG Assure 5 review

Yes, with the right expectations. If you want a clean 5-year locked rate with no index exposure, no rider complexity, and no MVA risk, this is a straightforward product from a financially strong carrier. The channel restriction matters — you need an advisor contracted through JP Morgan Chase to buy it — so the first question is whether you have that access. If you do, the terms hold up well against the broader MYGA market.

The primary reason to buy MYG Assure 5 is certainty. You lock in a specific rate for five years, your principal cannot go down, and you know exactly what you will earn. The secondary reason is simplicity — there are no crediting strategies to choose from, no rider decisions to make, and no ongoing fee drag. For a buyer who wants to park retirement savings in a fixed-income alternative for five years without the credit risk of a CD or the market risk of a bond fund, this structure fits.

I think MYG Assure 5 is best for someone who is either in or approaching retirement, has a clear five-year horizon for a portion of their savings, and already works with an advisor who is contracted through JP Morgan Chase. It also works well for IRA rollovers or non-qualified savings where tax deferral is meaningful and the buyer does not need income distributions during the surrender period. It is less attractive for someone who needs flexibility above 10% annually, wants any index upside potential, or is shopping outside the JP Morgan Chase advisor network.

You are buying a guaranteed rate of return for exactly five years with a specific floor on what you will receive if you hold to term. The insurance company pools your premium with others, invests in fixed-income assets, and passes back a stated yield to you as credited interest. Unlike a bank CD, the annuity grows tax-deferred in a non-qualified account, meaning you do not owe tax on the interest until you take withdrawals. The tradeoff for that tax deferral and rate guarantee is the surrender schedule — walking away early costs you a percentage of your account value depending on when you exit.

MYG Assure 5 uses a Multi-Year Fixed Strategy as its primary crediting approach. The rate is set at issue and guaranteed for the full five-year term — it will not change mid-contract the way a bank CD rate sometimes does on a roll. At the end of the five-year term, funds transfer automatically to a 1-Year Fixed Strategy, which renews annually at or above the contract's Minimum Interest Rate. That renewal rate will likely be different from the original term rate, so buyers who want to stay locked should pay attention to the post-term options, which may include rolling into a new multi-year product.

The rate band structure means the contract you open with $95,000 earns at the Low Band rate (4.90% as of May 2026), while the contract you open with $100,000 earns at the High Band rate (5.20%). That 30-basis-point gap is meaningful over five years — it amounts to roughly $1,500 on a $100,000 contract — so the $100,000 threshold is worth noting if you are near it.

The combination of no MVA and a 10% free withdrawal starting in Year 1 makes this product notably more accessible than many MYGAs. A market value adjustment would mean your effective surrender cost fluctuates with interest rates — if rates rise after you buy, your actual exit cost is higher than the stated schedule. Athene eliminates that uncertainty here entirely. The Year 1 free withdrawal is also a real feature: most MYGAs delay free withdrawals until Year 2. Starting in Year 1 gives buyers meaningful liquidity in the first contract year, which matters for retirees managing required distributions or unexpected expenses.

You are trading five years of full liquidity for a locked rate. The free-withdrawal provision gives you access to 10% of the accumulated value each contract year, starting in Year 1, without penalty. That is the primary liquidity valve for most buyers.

Withdrawals above the free amount are subject to the following schedule:

The charges decline each year and disappear entirely after Year 5. There is no market value adjustment on this product, so the schedule above is your actual cost — it will not be worse because rates moved.

RMDs attributable to this contract are treated as part of the annual free withdrawal even if they exceed the 10% free amount, which is a practical benefit for IRA-funded contracts. The Terminal Illness Waiver covers 100% of accumulated value after the first contract anniversary if death is expected within one year. The Confinement Waiver covers 100% of accumulated value after the first contract year if you are confined to a qualified care facility for 60 or more consecutive days. Neither waiver is available in California, and the Confinement Waiver is not available in some other states. These waivers can matter meaningfully in worst-case scenarios.

There are no stated base contract fees or rider fees on MYG Assure 5. The implicit cost is the spread between what Athene earns on the underlying portfolio and what they credit to you — that is how all fixed annuities work, and it is not a disclosed number. The surrender schedule is the main explicit cost for buyers who exit early.

The tradeoff specific to this product is the channel restriction. Because this product requires an advisor contracted through JP Morgan Chase, you cannot shop it against open-market MYGAs through independent channels. If a competing carrier is offering a higher 5-year rate and your advisor has access to both, that comparison is easy. But if you are working with an independent advisor who is not in that network, MYG Assure 5 simply will not be available to you, regardless of how its terms compare.

Legal Entity: Athene Annuity and Life Company

Parent: Apollo Global Management

A.M. Best Rating: A+

Athene is one of the larger fixed annuity carriers in the U.S. by premium volume. The A+ rating from A.M. Best reflects strong financial strength relative to the industry. Athene is owned by Apollo Global Management, which sources institutional fixed-income assets to back its annuity obligations. That structure is common among large fixed annuity carriers and is not unusual for the market.