Allianz Core Income 7
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Learn how an annuity can provide guaranteed income for life.
Highlights
A fixed index annuity, like Core Income 7 Annuity, is a contract between you and an insurance company that may help you reach your long-term financial goals. In return for your premium payment, Allianz gives you benefits and guarantees, including:
- Tax deferral - When compounded over time, this may increase the amount of income an annuity generates for retirement.
- Indexed interest potential - Fixed index annuities provide an opportunity to accumulate potential interest based on positive changes in one or more external market indexes. In addition, crediting methods are used to help determine the amount of interest that gets credited to your contract.
Income withdrawal benefits
- The Core Income Benefit rider is included with the Core Income 7 Annuity for an additional annual charge. It offers increasing lifetime income withdrawal percentages (beginning at age 45) until lifetime withdrawals begin or annuitization is started. It also offers a choice of two income payment options: predictable payments and payments with the opportunity to increase. Lifetime benefit withdrawals cannot begin before age 50.
MY (Multi-Year) Point-to-Point Crediting
MY (multi-year) point-to-point crediting methods may be a good choice for clients with a longer time horizon, while still offering short-term control with Index Lock.
MY point-to-point crediting offers two options: a 2-year or 5-year crediting period. And whichever option your clients choose, the participation rates are guaranteed until the end of the crediting period.
But remember that your clients don't have to wait until the end of the crediting period. If they see an index value they like, they can lock in that value with Index Lock.
Please, refer to the official Allianz website for rates and illustrations.
MY (multi-year) point-to-point crediting methods may be a good choice for clients with a longer time horizon, while still offering short-term control with Index Lock.
MY point-to-point crediting offers two options: a 2-year or 5-year crediting period. And whichever option your clients choose, the participation rates are guaranteed until the end of the crediting period.
But remember that your clients don't have to wait until the end of the crediting period. If they see an index value they like, they can lock in that value with Index Lock.
Please, refer to the official Allianz website for rates and illustrations.
Available in states:
AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY
|
Type
|
Fixed Index
|
|---|---|
|
Term
|
7 Years |
|
Surrender schedule
|
8.5%8%7%6%5%4%3% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Minimum contribution
|
$10,000 |
|
Types of funds
|
Non-Qualified, 401k, Profit Sharing, IRA, Pension, IRA Rollover, 401a, IRA Transfer, SEP IRA, KEOGH, IRA-Roth, and TSP |
Brochure
|
Open brochure |
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.6%
Fixed
|
| 1-Year Bloomberg US Dynamic Balance II PTP Cap |
Point to Point
Annual
|
5.5%
Cap
|
| 2-Year Bloomberg US Dynamic Balance II ER PTP Participation Rate |
Point to Point
Biennial
|
195%
Participation
|
| 1-Year Bloomberg US Dynamic Balance II ER PTP Participation Rate |
Point to Point
Annual
|
125%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5.5%
Cap
|
| 1-Year Russell 2000 PTP Cap |
Point to Point
Annual
|
5.5%
Cap
|
| 1-Year Nasdaq-100 PTP Cap |
Point to Point
Annual
|
5.5%
Cap
|
| 1-Year Bloomberg US Dynamic Balance II PTP Spread |
Point to Point
Annual
|
3.75%
Spread
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 6% | 5% | 4% | 3% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Core Income - Option 1 | Yes | 1.25% annually (1.25% max) |
| Core Income - Option 2 | Yes | 1.25% annually (1.25% max) |