Allianz Essential Income 7 Rate & Reviews

Essential Income 7 Annuity offers you principal protection from market loss, potential indexed interest, and the potential for tax-deferred growth. Plus, with a simple design that features one contract value, an easy-to-understand crediting method, and a built-in Income Benefit (at an additional cost), Essential Income 7 Annuity also provides:

two index allocation options,
an option for potentially increasing lifetime withdrawal percentages, and
choices for receiving lifetime income withdrawals.

Income or accumulation benefits

The Essential Income Benefit is included with the Essential Income 7 Annuity for an additional charge. It offers increasing 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. Once lifetime income withdrawals begin, access to penalty-free withdrawals is no longer available.
Lifetime benefit withdrawals cannot begin before age 50.
The annual benefit charge for the Essential Income Benefit is a percentage of the accumulation value, deducted monthly from the accumulation value, and guaranteed minimum value (in most states). The annual benefit charge percentage for the guaranteed minimum value is 1.05% for all contract years. The annual benefit charge percentage for the accumulation value is 1.05% for the first contract year. It can change each year during the next six contract years, but will not be more than 2.50%. After the seventh contract year, the annual benefit charge percentage will be 1.05% for all remaining contract years. The benefit charge will continue for the life of the contract even after lifetime income payments have begun.

Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, 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

Name	Type	Rates
1-Year Fixed Account	Fixed	4.3% Fixed
1-Year Bloomberg Dynamic Balance II PTP Cap	Point to Point Annual	8.25% Cap
1-Year S&P 500 PTP Cap	Point to Point Annual	8% Cap

Year	1	2	3	4	5	6	7
Penalty	9%	8%	7%	6%	5%	4%	3%

Name	Inbuilt	Fee
Essential Income Benefit Option 1	Yes	1.05% annually (2.50% max)
Essential Income Benefit Option 2	Yes	1.05% annually (2.50% max)

Allianz Essential Income 7

Allocation Accounts

Surrender schedule

Riders