5% Bonus PowerDex Elite
Status:
Active
Group:
Allianz
Product Type:
Indexed Annuity
Product Status:
Draft
Version:
0
Inception Date:
October 21, 2003
Closed Date:
December 28, 2007
Last Modified:
February 04, 2019 13:41
Description:
The 5% Bonus Power Dex Elite is a limited flexible premium deferred index annuity. The minimum single premium is $25,000 for both non-qualified and qualified funds. Additional contributions can be made for $25 or more during the first five years only. There is a 5% cumulative withdrawal of the contract value available 12 months after the last premium has been added, up to 25% of the premiums received. Systematic Withdrawal is an option. Surrender charges are ten years in duration, vary by state, and are waived in the event of death. There is an optional death benefit rider available for non-qualified policies where the owner and annuitant are the same individual and enables the beneficiary to receive up to 28% of the contracts gain. A charge for this rider does apply. A nursing home / hospital benefit is also an option. Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 59 1/2, may also be subject to a 10% federal income tax penalty. Early surrender charges may also apply. Guarantees based on claims paying ability of insurer. Products / features may not be available in all states. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.
Fee Based:
No
Free Look:
Yes
Plan Types:
401 (k), HR-10 (Keogh), 403 (b), Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, 401 (a)
Premium Types:
Flexible
States Available:
AL, AK, AZ, AR, CA, CO, DE, FL, GA, HI, ID, IL, IND, IA, KS, LA, MZ, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, RI, SC, SD, TN, TX, VT, VA, WV, WI, WY, DC
States Exception:
Version Note:
Scrap Book:
Death benefits
| Name | Internal name | Sequence | Inception date |
|---|---|---|---|
| Basic Death Benefit | Basic Death Benefit | 1 |