Full accumulation value: You can choose to receive your full accumulation value without penalty or MVA any time after 10 contract years. If you cancel your contract during the first 10 years, you will receive the cash value, which is equal to the accumulation value minus a withdrawal charge and adjusted by the MVA and any applicable rider charges. If you fully surrender your annuity contract at any time, the Protected Income Value rider and the Allianz Income Multiplier Benefit rider will no longer be in force, and you will receive your contract’s cash value. The cash value does not include any premium bonus, interest bonus, or interest earned on the bonuses.
What is the market value adjustment (MVA)? An MVA is a calculation we use to adjust your values according to the interest rate environment when you take your withdrawal. The MVA may increase or decrease your contract’s cash value. However, the MVA can never cause your contract’s cash value to be less than the guaranteed minimum value or more than the accumulation value.
In general, if corporate bond yields at the time of the withdrawal are: Less than when you added the premium Equal to when you added the premium Greater than when you added the premium
Then the cash surrender value will be:
Higher
Start of contract year
Surrender charge percentage
Unaffected
1 2 3 4 5 6 7 8 9
9.30% 9.30% 8.30%
Lower
7.30%
What is indexed interest? Your annuity gives you the potential to earn interest based on changes in an external index, such as the S&P 500 ® Index. Allianz tracks the performance of the index(es) you choose, and if the return is positive, we credit your contract with indexed interest (up to certain limits). But you don’t lose anything if the return is negative, because you’re not actually buying shares in the index or participating in the market.
6.25% 5.25% 4.20% 3.15% 2.10% 1.05%
10
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