What if I need to take a withdrawal? Penalty-free withdrawals are available prior to starting lifetime income withdrawals, including required minimum distributions (RMDs), according to the terms of the Allianz 222 ® Annuity. Withdrawals will reduce your contract values, including your PIV. After lifetime income withdrawals have begun, withdrawals in excess of your annual maximum will decrease the annual maximum by the same percentage that the accumulation value decreased as a result of the excess withdrawal.
What is the allocation charge? The allocation charge is applied to allocation options with the annual point-to-point and MY point-to-point crediting methods only and is deducted annually from the contract’s accumulation value, and in select states, we deduct it from the guaranteed minimum value allocated to each. This charge allows Allianz to better manage risk only in extremely challenging economic environments and pass the value of that flexibility on to you. The current allocation charge percentage is 0% and can change each crediting period on a contract year basis, however, only in specific economic environments. The maximum allocation charge percentage is 2.5%.
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