MYG Assure 7 (NY) review

Yes, for the right buyer in the right situation. This is a good annuity for a New York resident who wants a reliable seven-year locked rate with no market exposure and no complex features. The A+ carrier, no-MVA design, and clean liquidity provisions all work in the buyer's favor. It is less attractive for someone who needs liquidity above 10% per year during the surrender period, someone who wants income features, or anyone who cannot access JP Morgan Chase as their purchasing channel.

The core reason to buy this is simple: a seven-year guaranteed rate with no market risk, no MVA exposure, and a carrier strong enough to give you confidence it will still be standing at maturity. For a New York resident working with a JP Morgan Chase advisor, it competes on the same terms as a CD or Treasury ladder — but with tax deferral on the growth and slightly better flexibility through the 10% free-withdrawal provision.

I think this product is best for a New York retiree or near-retiree with nonqualified or IRA money who wants to lock in a predictable return for seven years and has no plan to access more than 10% per year along the way. The $100,000 threshold for the better rate tier matters — buyers placing less than that still get a solid product, but the 35-basis-point step-up to 5.15% is real money over a seven-year hold. Buyers who value simplicity and do not need an income rider or index crediting will find this a clean fit.

You are buying a contractual guarantee. At issue, Athene locks in your rate — 4.80% or 5.15% depending on premium size — and that rate is fixed for the full seven years. Unlike a fixed indexed annuity, there is no index, no cap, no participation rate, and no annual reset to track. Your value compounds at the guaranteed rate every year. At the end of the seven-year term, the balance moves automatically to a one-year fixed strategy with a minimum guaranteed rate of at least 1.00%, at which point most buyers either annuitize, take the value, or roll to a new contract.

The Multi-Year Fixed Strategy is the primary account. You fund it at issue and the guaranteed rate applies from day one through the end of year seven. There is no crediting window to wait for, no index performance to hope for — the math is simple compound interest at the stated rate. The rate tiers are: 4.80% for premiums under $100,000 and 5.15% for premiums of $100,000 or more, based on rates as of March 27, 2026 per Wink data. Rates in force at issue are locked; future new-issue rates do not affect your contract once it starts.

At the end of the term, your accumulated value transfers automatically to a one-year fixed strategy. Athene guarantees that strategy will credit at least 1.00%, though the actual declared rate will typically be higher. That is the point where most policyholders reassess — stay in a new fixed strategy, annuitize, or exit.

The most important secondary feature is the no-MVA design. Many MYGAs impose a market value adjustment on surrenders above the free amount — meaning that if interest rates have risen since you funded the contract, your effective surrender penalty is larger than the printed schedule. Athene has removed that risk here. The surrender charges shown are the actual charges, period. In a rising-rate environment, that is a meaningful structural advantage for a buyer who might need to exit early.

The free-withdrawal provision allows 10% of accumulated value per contract year starting in year one. RMDs attributable to this contract are also available even if they exceed the 10% free amount, which makes this workable inside an IRA without surrender-charge surprises.

Beyond the standard schedule, two waivers expand liquidity meaningfully. The Confinement Waiver allows a full 100% surrender without charge after year one if the owner is confined to a qualified care facility for 60 or more consecutive days — with the confinement beginning at least one year after the contract date. The Terminal Illness Waiver allows a full 100% surrender after the first contract anniversary if the owner is diagnosed with a terminal illness expected to result in death within one year. Neither waiver is available in contract year one, but both add real protection for buyers who are concerned about catastrophic health events.

There is no base contract fee and no rider fee — there is no optional rider to purchase. The surrender charges are the only cost beyond the implicit spread between what Athene earns on its general account investments and what it credits to the contract. That spread is how the company earns its margin, and it is not disclosed separately.

The main tradeoff is structural: you are exchanging seven years of full liquidity for the guaranteed rate. If you break the contract early and withdraw above the free amount, you are subject to surrender charges of 3% to 8% depending on the year. There is no MVA on top of that, which removes one layer of surprise, but a 7% to 8% charge in early years is still significant on a large contract. This is long-term money.

Legal Entity: Athene Annuity & Life Assurance Company of New York

Parent: Athene Holding Ltd.

A.M. Best Rating: A+