Allianz Index Advantage New York
Status:
Terminated
Group:
Allianz
Product Type:
RILA
Product Status:
Approved
Version:
0
Inception Date:
January 17, 2023
Closed Date:
August 13, 2024
Last Modified:
June 17, 2025 09:37
Description:
The Allianz Index Advantage New York 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 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 for withdrawal of up to 10% of the total Purchase Payments. There are two Index Crediting Methods: the Index Performance Strategy and Index Protection NY Strategy. 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. Contracts issued before November 14, 2023 have a maximum issue age of 80.
Fee Based:
No
Free Look:
Yes
Plan Types:
Non-Qualified, Roth IRA, SEP IRA, IRA, Roth 401 (k)
Premium Types:
Flexible
States Available:
NY
States Exception:
Version Note:
Scrap Book:
Changes in product plan types as per the mail subjected - Allianz Today - July 30, 2024.
Death benefits
| Name | Internal name | Sequence | Inception date |
|---|---|---|---|
| Traditional Death Benefit | Traditional Death Benefit | 1 | 17 Jan 2023 |