EP
● Active
Earnings Protection GMDB
Allianz Life Insurance Company of North America
DTCC ID
—
COMPANY
Allianz Life Insurance Company of North America
TYPE
Variable Annuity
INCEPTION
Nov 05, 2001
Identity
Benefit name
Earnings Protection GMDB
Internal benefit name
Earnings Protection GMDB
Product policy type
Variable Annuity
Status
● Active
Sequence
3
Inception date
Nov 05, 2001
Closed date
—
DTCC Rider ID
—
Last modified
Feb 14, 2025
Life & Age
Based on life
Owner (or Annuitant if owner is a non-natural person)
Single life
No
Joint life
No
Min age
—
Max age
—
Rider select rule
Mandatory
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
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. Earnings Protection GMDB option guarantees beneficiary receives the greater of the following amounts, minus any applicable taxes or charges: 1) Contract Value 2) Earnings Protection GMDB value. Earnings Protection GMDB value is the greater of: A) Total Purchase Payments minus any adjusted partial withdrawals. B) Contract Value Plus. If age 69 or younger at issue, 50% of the lesser of: (a) Contract value minus total purchase payments (b) Three times the purchase payments in the first two years. If age 70 or older at issue, 30% of the lesser of (a) Contract value minus total purchase payments (b) Three times the purchase payments in the first two years. 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.
Available when added
At Contract Issue.
Effect change ownership
None.