PI
● Active
Protected Income Value
Modified 6 months ago
DTCC ID
—
RIDER TYPE
GLWB
COMPANY
—
INCEPTION
Mar 03, 2020
Identity
Name
Protected Income Value
Internal name
Protected Income Value (EEB - 250% & 150%)
Company
—
Rider type
GLWB
DTCC Rider ID
—
Product policy type
—
Status
● Active
Inception date
Mar 03, 2020
Age range
0 – 80
Benefit description
Rider provides guaranteed lifetime income withdrawals, even if the accumulation value has been exhausted, based on the Protected Income Value (PIV). PIV is equal to the premium paid into annuity, plus the premium bonus and PIV interest credit. It also provides a guarantee that the PIV never decreases, until lifetime withdrawals are taken. Additionally, rider also includes an Allianz Income Multiplier Benefit, that doubles the lifetime withdrawal amount, if confined to a qualified hospital, nursing home or assisted living facility.
Version notes
Change in benefit base bonus.