EG
● Terminated
Enhanced Guaranteed Minimum 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
Enhanced Guaranteed Minimum Death Benefit
Internal benefit name
Enhanced Guaranteed Minimum Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
2
Inception date
—
Closed date
Mar 13, 2009
DTCC Rider ID
—
Last modified
Jan 23, 2015
Life & Age
Based on life
Owner
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
Contact Issuer for details.
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, benefit will be greatest of - 1) contract value, 2) Traditional GMDB value, or 3) Enhanced GMDB value. Traditional GMDB value equals total purchase payments adjusted for withdrawals. Enhanced GMDB value at issue equal to initial purchase payment, thereafter, increased by additional purchase payments made and reduced by withdrawals. On each contract anniversary prior to owner's 81st birthday, Maximum Anniversary Value is equal to highest contract value calculated at any contract anniversary.
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
Only at contract issue.
Effect change ownership
Contact Issuer for details.