ALLIANZ ACCUMULATION ADVANTAGE 7 TM ANNUITY
Your important questions answered
Are there age limits? Yes. The maximum age for buying Allianz Accumulation Advantage 7 tm Annuity is 85.
What is the minimum amount required to purchase a contract? The minimum premium payment is $20,000. The maximum amount is $2,000,000 without prior approval. Caps, participation rates, and interest rates vary based on initial premium amount.
PREMIUM BANDS: • Initial issued premium $100,000 or greater • Initial issued premium less than $100,000
Can I add premium to my annuity? You may add more premium for the first 18 contract months in any amount between $25 and $25,000, unless we approve a larger amount. Additional premium is not allowed if you have taken a partial withdrawal or required minimum distribution (RMD) in the same contract year.
How can I take withdrawals from my contract? There are several ways you can access the accumulation value in your annuity.
Free partial withdrawals: The years following any year in which premium is paid and before you take annuity payments, you can take up to 10% of your contract’s paid premium or accumulation value – whichever is greater – each contract year in one or more withdrawals free of withdrawal charges, market value adjustments (MVAs), and penalties. Withdrawals will reduce contract values and the calculation of any death benefits and future annuity payments. Withdrawals will not affect your premium band. Free withdrawals can also affect your indexed interest. If the interest rate for an indexed allocation is positive at the end of any crediting period, we will credit indexed interest to your contract (based on the crediting method) for any free withdrawals you took from that index allocation earlier that crediting period. The amount of interest will reflect the portion of the crediting period that your free withdrawal remained in the indexed allocation. 1 Larger withdrawal: If you wish, you may also take a larger withdrawal. During your contract’s first seven years, there are withdrawal charges, so, if you take out more than 10% of the greater of your paid premium or accumulation value, or take withdrawals in a contract year in which premium was paid, a partial withdrawal charge and an MVA will be applied to the amount greater than the free withdrawal amount.
1 If you take a full withdrawal or annuitize your contract, no interest will be earned.
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