Beacon Data Entry
Heritage Account Death Benefit
⌘K
HA
● Terminated

Heritage Account Death Benefit

Allianz Life Insurance Company of New York
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DTCC ID —
COMPANY Allianz Life Insurance Company of New York
TYPE Variable Annuity
INCEPTION Sep 11, 2012
Identity
Benefit name
Heritage Account Death Benefit
Internal benefit name
Heritage Account Death Benefit
Company
Allianz Life Insurance Company of New York
Product policy type
Variable Annuity
Status
● Terminated
Sequence
3
Inception date
Sep 11, 2012
Closed date
Apr 30, 2015
DTCC Rider ID
—
Last modified
Aug 08, 2020
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
Issuer will recalculate benefit base upon partial withdrawal.
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. Benefit will be greater of - 1) Heritage Account Value; or 2) Heritage Base. Heritage Base is equal to purchase payment allocations and transfers into heritage account, adjusted for withdrawals and transfers out of the heritage account. Withdrawals and transfers out of the heritage account will reduce the heritage base by greater of the percentage of Heritage Account Value taken, or the dollar amount taken. Heritage account value is available by taking withdrawals, or annuity payments. Entire contract value must be in heritage account before annuity payments begin. On each quarterly anniversary the heritage account fee can increase up to a maximum of 1.75% or it can decrease to as low as 0.25%, Issuer cannot increase or decrease the fee more than 0.25% in any twelve-month period. Owner must select an Asset Allocation Program.

Lifecycle Events
Cancellation
Once elected may not be cancelled.
Termination
Once elected may not be terminated.
Available when added
No longer available for new purchases.
Effect change ownership
Contact Issuer for details.