QV
● Terminated
Quarterly Value Death Benefit
Allianz Life Insurance Company of New York
DTCC ID
—
COMPANY
Allianz Life Insurance Company of New York
TYPE
Variable Annuity
INCEPTION
—
Identity
Benefit name
Quarterly Value Death Benefit
Internal benefit name
Quarterly Value Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
2
Inception date
—
Closed date
Mar 08, 2010
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 greater 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.
Lifecycle Events
Cancellation
Benefit may automatically terminate under certain conditions.
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.