IA
● Terminated
Income Advantage Death Benefit
Allianz Life Insurance Company of North America
DTCC ID
—
COMPANY
Allianz Life Insurance Company of North America
TYPE
Variable Annuity
INCEPTION
Jan 18, 2011
Identity
Benefit name
Income Advantage Death Benefit
Internal benefit name
Income Advantage Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
2
Inception date
Jan 18, 2011
Closed date
Apr 27, 2015
DTCC Rider ID
—
Last modified
Aug 08, 2020
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
—
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
Withdrawal will reduce benefit base either in same proportion or by dollar-for-dollar amount, whichever results in lower benefit base.
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, benefit will be greater of - 1) Income Advantage Account Value, or 2) Quarterly Anniversary Value. Quarterly anniversary value at issue is equal to initial purchase payment allocated to Income Advantage Account adjusted for withdrawals, transfers to base account and subsequent payments, on each quarterly anniversary prior to owner's 91st birthday, is equal to Income Advantage Account Value if it is greater. Owner must participate in Asset Allocation Program.
Lifecycle Events
Cancellation
Benefit may automatically terminate under certain conditions.
Termination
Benefit will automatically terminate upon earliest of - 1) annuitization, 2) termination of contract, or 3) Quarterly Anniversary Value and Income Advantage Account Value reduces to zero.
Available when added
No longer available for new purchases.