allianz abc

ALLIANZ BENEFIT CONTROL® FIXED INDEX ANNUITY

10 things to know about

Allianz Benefit Control ® Annuity

immediate increase in the value of your lifetime withdrawals. (We explain your protected income value on page 6.)

1. Allianz Benefit Control ® annuity is an insurance product.

Like all fixed index annuities, it’s designed to help you save money for retirement and provide a steady stream of income after you retire. But if you need to access your money sooner, you can take out a portion through free withdrawals – or even start income withdrawals right away (must be at least 50 years old). 2. It protects your money from market risk. The money – or “premium” – you place in the annuity is not invested in the stock market, so you won't lose anything during a market downturn. (Fees and charges may still reduce your contract value, though.)

4. Allianz Benefit Control ® gives you the opportunity to earn indexed interest. You can “allocate” the money in your contract to one or more external indexes, such as the S&P 500. We track the performance of these indexes – and when the index goes up, your contract earns indexed interest (up to certain limits). But remember that we’re just tracking the index for you. You’re not actually buying stocks or shares in any index, so you won’t lose money if the stock market drops.

5. You then get a second bonus on any indexed interest you earn.

Anytime your contract receives indexed interest, we’ll also credit your protected income value with an interest bonus. And through a feature we call the Bonus Control benefit, you can control how interest is credited between your accumulation value and the protected income value. (We explain your two contract values on page 6.)

3. Allianz Benefit Control ® gives you a premium bonus.

Anytime you put money into your contract in the first 18 months, you’ll get a premium bonus equal to 25% of your premium. We’ll credit this bonus to your protected income value, giving you an

The premium and interest bonus is credited only to the Protected Income Value (PIV). To receive the PIV, including the bonus, lifetime withdrawals must be taken. The PIV is not available as a lump sum. You will not receive the bonuses if the contract is fully surrendered or if traditional annuitization payments are taken. If it is partially surrendered the PIV will be reduced proportionally, which could result in a partial loss of bonuses. Lifetime withdrawals are considered partial withdrawals and are subject to ordinary income tax and, if taken prior to 59½, a 10% federal additional tax. Because this is a bonus annuity, it may include higher surrender charges, longer surrender charge periods, lower caps, higher spreads, or other restrictions that are not included in similar annuities that don't offer a bonus feature.

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