Allianz Accumulation Advantage 7
Status:
Active
Group:
Allianz
Product Type:
Indexed Annuity
Product Status:
Approved
Version:
0
Inception Date:
November 28, 2023
Closed Date:
Last Modified:
July 14, 2025 10:19
Description:
The Allianz Accumulation Advantage 7 is a limited flexible premium deferred index annuity with a market value adjustment. This contract includes a free look period of 20 days, or 30 days if contract is taken as a replacement. The minimum single premium is $20,000 for qualified and non-qualified money. Additional premium payments can be accepted during the first 18 months. 10% of the purchase payment or accumulation value can be withdrawn without deduction of any MVA, surrender charges or any penalties. Surrender charges are 7 years in duration and are waived in the event of annuitization, death, or entrance into any qualified hospital or nursing home. 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.
Fee Based:
No
Free Look:
Yes
Plan Types:
HR-10 (Keogh), Non-Qualified, IRA, SEP IRA, Others, 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:
Product plan changes through mail - Allianz Today - May 27, 2025.
Death benefits
| Name | Internal name | Sequence | Inception date |
|---|---|---|---|
| Basic Death Benefit | Basic Death Benefit | 1 | 28 Nov 2023 |