● Active

Enhanced GMDB

Allianz Life Insurance Company of North America

Edit

DTCC ID —

COMPANY Allianz Life Insurance Company of North America

TYPE Variable Annuity

INCEPTION Mar 02, 1997

Identity

Benefit name

Enhanced GMDB

Internal benefit name

Enhanced GMDB

Company

Allianz Life Insurance Company of North America

Product policy type

Variable Annuity

Status

● Active

Sequence

Inception date

Mar 02, 1997

Closed date

—

DTCC Rider ID

—

Last modified

Feb 18, 2025

Life & Age

Based on life

Owner (or Annuitant if owner is a non-natural person)

Single life

Joint life

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

None.

Coverage Flags

Exclude premium bonus

Spousal continuation option

Yes

Spousal continuation detail

Surviving spouse may elect to continue benefit after death of owner.

State Availability

Exception flag

Available in states

—

Benefit Description

Available during accumulation phase. Enhanced GMDB ensures the death benefit is the greater of two values: 1) Contract value . 2) The Enhanced GMDB value. Enhanced GMDB value is equal to the greater of A or B. A) Annual Increase Amount (AIA): Initially equal to the Purchase Payment. On business days before the contract anniversary, it increases by any new Purchase Payments and decreases by the percentage of contract value withdrawn, excluding MVA but including withdrawal charges. On each contract anniversary before age 81, it increases by 3%, plus any new Purchase Payments, minus withdrawals. After age 81, it is calculated like on any other business day. It is limited to 1.5 times total Purchase Payments, minus withdrawals. B) Maximum Anniversary Value (MAV): Initially equal to the Purchase Payment. On business days, it increases by any new Purchase Payments and decreases by withdrawals. On each contract anniversary before age 81, it is based on the highest contract value as of any anniversary, plus new Purchase Payments, minus withdrawals. After age 81, it is calculated like on any other business day. May not be available in all States.

Lifecycle Events

Cancellation

Benefit may automatically terminate under certain conditions.

Termination

Benefit will automatically terminate upon earliest of - 1) annuitization, 2) contract value and benefit base reduces to zero.

Effect change ownership

None.