Allianz Core Income 7
Status:
Active
Group:
Allianz
Product Type:
Indexed Annuity
Product Status:
Approved
Version:
0
Inception Date:
November 18, 2013
Closed Date:
Last Modified:
February 19, 2026 11:17
Description:
The Allianz Core Income 7 is a limited flexible premium deferred index annuity with a market value adjustment (not available in all states). The minimum single premium is $10,000 for qualified and non-qualified money. Additional premium payments can be made for $25 or more during the first contract year only. 10% of the paid premium may be withdrawn in any year no premiums are paid. Surrender charges are 7 years in duration and are waived in the event of annuitization, death, or entrance into an eligible nursing home (if the Flexible Withdrawal Rider is purchased). The Flexible Annuity Option Rider allows the withdrawal of accumulation value (less any bonus or interest earned on the bonus) anytime after the first contract year for a period certain of 10 to 30 years. The Flexible Withdrawal Rider is an optional rider which, if elected at an extra cost, allows access to a one-time lump-sum payment in any amount up to the accumulation value if admitted to a nursing home, hospital, or assisted living care facility for at least 30 out of 35 consecutive days. An additional nursing home / hospital benefit is also an option at no additional cost. The Core Income Benefit rider is a benefit rider which offers automatic lifetime withdrawal percentage increases (beginning at age 45) and continuing each year until lifetime withdrawals begin. There is a choice of two income payment options: predictable payments and income for life. 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. C54370/R95374.
Fee Based:
No
Free Look:
Yes
Plan Types:
HR-10 (Keogh), 403 (b), Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, Spousal IRA, 401 (a)
Premium Types:
Flexible
States Available:
AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IND, IA, KS, KY, LA, MZ, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, ORG, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY, DC
States Exception:
Version Note:
Changes in product plan types.
Scrap Book:
Death benefits
| Name | Internal name | Sequence | Inception date |
|---|---|---|---|
| Basic Death Benefit | Basic Death Benefit | 1 | 18 Nov 2013 |
Riders
| Name | Rider type | Internal name | Sequence | Inception date |
|---|---|---|---|---|
| Core Income Benefit | GLWB | 08 Nov 2013 |