ALLIANZ 360 SM ANNUITY
Other valuable benefits Allianz 360 SM offers flexibility, access, and protection.
ADDING MORE MONEY TO YOUR ANNUITY
SURRENDER CHARGE PERCENTAGES DECREASE OVER TIME
Allianz 360 SM is designed to help you accumulate savings for retirement. That’s why we give you the flexibility of making additional premium payments until the first day of the 19 th month of your contract, the date annuity payments begin, or the date lifetime withdrawal payments begin, whichever comes first. ACCESSING YOUR MONEY You may access the accumulation value in your annuity in several ways. Free withdrawals: In the contract year following your most recent premium payment, you can take up to 10% of your contract’s paid premium each contract year in one or more withdrawals free of surrender charges, MVAs, and penalties. Withdrawals reduce contract values and the value of any income and death benefits. Taking a larger withdrawal (partial surrender): Within your contract’s first 10 years, if you take out more than 10% of your contract’s paid premium in a contract year, we’ll apply a partial surrender charge and MVA to the amount above 10% (the excess partial withdrawal). Accessing all of your money: If you want to access all your money in a lump sum, Allianz 360 SM gives you that option. Anytime after your tenth contract year, you can take your annuity’s full accumulation value. Prior to that time, you would receive your cash surrender value – which is equal to the accumulation value minus the full surrender charge, and then adjusted by the MVA, as shown in the charts on the side.
Start of contract year
Surrender charge %
1
10.00%
2
10.00%
3
10.00%
4
8.75%
5
7.50%
6
6.25%
7
5.00%
8
3.75%
9
2.50%
10
1.25%
11
0%
MARKET VALUE ADJUSTMENT (MVA) An MVA is a calculation used to adjust your values according to the interest rate environment at the time a withdrawal is taken during the surrender charge period only. The MVA may increase or decrease your contract’s cash surrender value. The MVA can never cause the cash surrender value to be less than the guaranteed minimum value or greater than the accumulation value.
In general, if corporate bond yields at the time of the withdrawal are:
Then the cash surrender value will be:
Less than when you added the premium Equal to when you added the premium Greater than when you added the premium
Higher
Unaffected
Lower
10
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