CUSIP Number:
018815415
CUSIP Name:
10 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The Allianz Accumulation Advantage is a limited flexible premium deferred index annuity with a market value adjustment. The minimum single premium is $20,000 for qualified and non-qualified money. Additional premium payments can be accepted during the first contract year only. 10% of the of the contract's paid premium may be withdrawn each contract year after the first. Surrender charges are 10 years in duration (may vary with state availability); are waived in the event of annuitization, death, or entrance into an eligible nursing home. The Flexible Annuity Option Rider allows contract owners age 80 and older to receive annuity payments sooner, based on the contract accumulation value. Available after the first contract year by electing annuity payments over 3 to 9 years. There is no additional cost for this rider. The Nursing Home Benefit allows the owner the opportunity to take the contract accumulation value as annuity payments over at least five years if, after the first contract year, they enter a qualifying nursing home or hospital, or any combination of the two, for 30 out of 35 consecutive days. There is no additional cost for this rider. 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% additional federal tax. 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.
Last Modified:
31 Jul 2023 11:46