Allianz Index Advantage ADV
Status:
Terminated
Group:
Allianz
Product Type:
RILA
Product Status:
Approved
Version:
0
Inception Date:
May 23, 2017
Closed Date:
November 05, 2024
Last Modified:
June 10, 2025 06:44
Description:
The Allianz index advantage ADV an individual flexible purchase payment variable and an index-linked deferred annuity. The minimum single premium is $10,000 for qualified and non-qualified money. Surrender charges are six years in duration (6.5,6,5,4,3,2) and are waived in the event of death, entrance into a nursing home. The Flexible Annuity Option offers both variable investment option and index-linked investment options and a free withdrawal privilege that allows withdrawal of up to 10% of the total Purchase Payments. There are four Index Crediting Methods: the Index Protection Strategy, Index Performance Strategy, Index Precision Strategy and Index Guard Strategy. This contract may be subject to Advisory Fees, not charged by the carrier, that will not affect the benefit base. 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. 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. Advisory Fees under this contract are not subject to a cap. In addition, any Adviser Fees withdrawn from this contract would be subject to applicable surrender / withdrawal charges, taxes and pre-59 ½ withdrawal penalties. Please note that selected Death Benefits may also be negatively impacted by this withdrawal.
Fee Based:
Yes
Free Look:
Yes
Plan Types:
IRA, SEP IRA, Roth IRA, Non-Qualified
Premium Types:
Flexible
States Available:
AL, AS, AZ, AR, CA, CO, CT, DE, DC, FL, GA, GU, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, PA, PR, RI, SC, SD, TN, TX, UT, VT, VI, VA, WA, WV, WI, WY
States Exception:
Version Note:
Scrap Book:
The product is closed, as indicated in Trello card E2024359 - Allianz Index Advantage ADV.
Death benefits
| Name | Internal name | Sequence | Inception date |
|---|---|---|---|
| Traditional Death Benefit | Traditional Death Benefit | 1 | 23 May 2017 |
| Maximum Anniversary Value Death Benefit | Maximum Anniversary Value Death Benefit | 2 | 01 May 2018 |