OQ
● Terminated
Original Quarterly Value Death Benefit
Allianz Life Insurance Company of North America
DTCC ID
—
COMPANY
Allianz Life Insurance Company of North America
TYPE
Variable Annuity
INCEPTION
—
Identity
Benefit name
Original Quarterly Value Death Benefit
Internal benefit name
Original Quarterly Value Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
2
Inception date
—
Closed date
Apr 30, 2012
DTCC Rider ID
—
Last modified
Oct 01, 2021
Life & Age
Based on life
Owner (or Annuitant if owner is a natural entity)
Single life
No
Joint life
No
Min age
—
Max age
—
Rider select rule
Optional
Waiting period
—
Waiting term
—
Benefit Base
Maximum benefit base
—
Maximum benefit base %
—
With reduce benefit base
—
Subsequent premium
Subsequent purchase payment will increase benefit base by dollar-for-dollar amount.
Partial withdrawals
Withdrawals will reduce benefit base in same proportion.
Required min distributions
—
Coverage Flags
Exclude premium bonus
No
Spousal continuation option
Yes
Spousal continuation detail
Surviving spouse may elect to continue benefit after death of owner.
State Availability
Exception flag
No
Available in states
—
Benefit Description
Available during accumulation phase. Upon death of owner or annuitant, benefit will be greatest of - 1) contract value, 2) purchase payments adjusted for withdrawals, or 3) quarterly anniversary value. Quarterly anniversary value at issue is equal to purchase payment thereafter, increased by subsequent payments and reduced by withdrawals, on each quarterly anniversary prior to owner's 91st birthday, is equal to contract value, if greater. If Quarterly Value Death Benefit is elected, owner must also have either Income Protector, Investment Protector, or one of the previously available Lifetime or Target Date Benefits (an Additional Required Benefit).
Lifecycle Events
Cancellation
Once elected may not be cancelled.
Termination
Benefit will automatically terminate upon earliest of - 1) annuitization, 2) surrender, or 3) contract value and benefit base reduces to zero.
Available when added
No longer available for new purchases.