QV
● Active
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
Apr 29, 2013
Identity
Benefit name
Quarterly Value Death Benefit
Internal benefit name
Quarterly Value Death Benefit
Product policy type
Variable Annuity
Status
● Active
Sequence
2
Inception date
Apr 29, 2013
Closed date
Apr 30, 2021
DTCC Rider ID
—
Last modified
Jun 08, 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
Yes
Available in states
—
Not available in states
CT, OR
Benefit Description
Rider locks in any quarterly investment gain to potentially provide an increased death benefit. Available during the accumulation phase. Upon the death of owner or annuitant, the benefit will be greater of - 1) contract value; or 2) quarterly anniversary value. Quarterly anniversary value is initially equal to the Purchase Payment received on the contract issue date, thereafter the highest contract value on any quarterly anniversary before age 91, adjusted for subsequent purchase payments and withdrawals.
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
Only at contract issue and in combination with Income Protector Rider.