ALLIANZ 222 ® ANNUITY
More options as you plan for retirement Like many people, you may be considering several strategies to help you reach your retirement goals. Allianz 222® Annuity can be a valuable addition to your retirement portfolio for several reasons.
First, Allianz 222 ® Annuity gives you the potential to earn interest in two different ways: You can earn interest based on your choice of several index options, or you can choose to receive fixed interest. Second, you can receive a bonus 1 on the Protected Income Value (PIV) of your annuity – which we describe later in this brochure – in two ways. You’ll receive a premium bonus on any premium you place in your annuity in the first 18 months. You’ll also receive an interest bonus which will result in a credit of 150% of any fixed and/or indexed interest earned for as long as you have your contract. Third, you can receive lifetime withdrawal income increases in two ways once income withdrawals begin. The income from your PIV will increase each year based on the interest rate credited to your allocations, multiplied by the 150% interest bonus factor.
And if you should later be confined to a nursing facility, hospital, or assisted living facility, or become unable to perform two of six activities of daily living (ADLs), you can receive up to double your annual maximum income withdrawal with the Allianz Income Multiplier Benefit rider. 2 Finally, Allianz 222 ® Annuity gives you two death benefit options. Your beneficiary(ies) can receive the full accumulation value as a lump sum (this option doesn’t include any bonuses). Or, they can receive the PIV 3 – including the premium and interest bonuses – in payments over a minimum of five years.
1 The premium bonus and interest bonus are credited only to the Protected Income Value (PIV). To receive the PIV, including the bonus, the contract must be held for at least 10 contract years, and then lifetime income withdrawals must be taken. You will not receive the bonuses if the contract is fully surrendered or if traditional annuitization payments are taken. If the contract is partially surrendered the PIV will be reduced proportionally, which could result in a partial loss of bonuses. Income withdrawals are considered partial withdrawals and are subject to ordinary income tax and, if taken prior to 59 ½ , 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. 2 To receive the Allianz Income Multiplier Benefit you must be confined to an eligible hospital, nursing facility, or assisted living facility for at least 90 days in a consecutive 120-day period. Confinement must occur after the first contract year and either during the contract year before the start of lifetime income withdrawals or at any time thereafter. The six activities of daily living are eating, bathing, dressing, toileting, transferring, and continence. Note: The Allianz Income Multiplier Benefit is not available in Hawaii and Connecticut. 3 In Alaska, Idaho, Illinois, Maryland, New Hampshire, New Jersey, North Carolina, Ohio, Pennsylvania, Texas, Utah, and Washington, the PIV death benefit is subject to a limit. The greater of 125% of the cash surrender value, or total premium credited at 10% interest per year, but not exceeding 250% of the total premium (less withdrawals). Withdrawals are subject to ordinary income tax and, if taken prior to age 59 ½ , a 10% federal additional tax. 2
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