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
May 01, 2003
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
May 01, 2003
Closed date
Sep 22, 2008
DTCC Rider ID
—
Last modified
Mar 05, 2024
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
—
Partial withdrawals
—
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 greatest of - 1) contract value, 2) Enhanced GMDB value, or 3) Maximum Anniversary Value. 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
No longer available for new purchases.