Allianz 360 Annuity
The Allianz Life Insurance Company of North America, first founded in 1896, has become a leading figure in the retirement savings industry. By providing life insurance and annuity products, Allianz Life’s goal is to help individuals in their post-work years find financial comfort. With a diverse portfolio of fixed, variable, and indexed annuities complemented by a great number of life insurance solutions, the company leverages its expertise and resources to supply solutions that address the risk profiles and prerequisites of various customers. Interestingly enough, they are the title sponsor of the MLS’s Minnesota United FC stadium. Furthermore, as a continuously growing company, they have acquired and collaborated with many firms within their industry.
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Allianz 360 Annuity
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Ratings:
- A.M. Best A+
- S&P AA
- Moody's Aa3
- Comdex 96
About Product
Type
Fixed Index
Purpose
Lifetime Income
Term
10 Years
Surrender schedule
10%10%10%8.75%7.5%6.25%5%3.75%2.5%1.25%
Fee withdrawal:
10%
Market Value Adjustment
Yes
Return Of Premium
No x
Minimum Contribution
$20,000
Maximum Contribution
$1,000,000
Max Age Qualified
80
Types Of Funds
Non-Qualified, 401k, Profit Sharing, IRA, Pension, IRA Rollover, 401a, IRA Transfer, SEP IRA, KEOGH, IRA-Roth, and TSP
The Allianz 360 Annuity is a fixed index annuity which has a 10 year surrender charge period. Like all fixed index annuities, Allianz 360 Annuity and the 360 Benefit rider (included at an additional cost) offer you principal protection from market downturns, potential interest based on allocation options chosen, tax deferral, and a death benefit for beneficiaries.
The interest bonus will continue for both fixed and indexed allocation until you surrender your contract for a lump sum or take income, either as lifetime withdrawals or annuity payments.
Allianz 360 Annuity may be a good choice if you're looking for retirement accumulation opportunities, with the flexibility to start receiving lifetime retirement income when you're ready.
Beginning at age 40, the contract’s lifetime withdrawal percentages will automatically increase each year your client holds the contract, until income payments begin. The base payment percentage is determined by the age of your client at the time they purchase the annuity. Starting at age 50 the base payout percentages increase 10 bps for every year of age at issue.
Two payout options to choose from. Option 1 offers predictable income payments and Option 2 offers the potential for income increases based on changes in fixed or indexed interest allocations.
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.
The interest bonus will continue for both fixed and indexed allocation until you surrender your contract for a lump sum or take income, either as lifetime withdrawals or annuity payments.
Allianz 360 Annuity may be a good choice if you're looking for retirement accumulation opportunities, with the flexibility to start receiving lifetime retirement income when you're ready.
Beginning at age 40, the contract’s lifetime withdrawal percentages will automatically increase each year your client holds the contract, until income payments begin. The base payment percentage is determined by the age of your client at the time they purchase the annuity. Starting at age 50 the base payout percentages increase 10 bps for every year of age at issue.
Two payout options to choose from. Option 1 offers predictable income payments and Option 2 offers the potential for income increases based on changes in fixed or indexed interest allocations.
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.
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
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
2.1%
Fixed
|
| 2-Year Bloomberg US Dynamic Balance II ER MY PTP Participation Rate |
Point to Point
Biennial
|
125%
Participation
|
| 2-Year PIMCO Tactical Balanced ER MY PTP Participation Rate |
Point to Point
Biennial
|
120%
Participation
|
| 2-Year S&P 500 Futures Daily Disk Control 5% MY PTP Participation Rate |
Point to Point
Biennial
|
130%
Participation
|
| 5-Year Bloomberg US Dynamic Balance II ER MY PTP Participation Rate |
Point to Point
5-Year
|
230%
Participation
|
| 5-Year PIMCO Tactical Balanced ER MY PTP Participation Rate |
Point to Point
5-Year
|
225%
Participation
|
| 5-Year S&P 500 Futures Daily Disk Control 5% MY PTP Participation Rate |
Point to Point
5-Year
|
250%
Participation
|
| 1-Year PIMCO Tactical Balanced ER PTP Participation Rate |
Point to Point
Annual
|
70%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
1.4%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
4%
Cap
|
| 1-Year BlackRock iBLD Claria ER PTP Participation Rate |
Point to Point
Annual
|
75%
Participation
|
| 1-Year Bloomberg US Dynamic Balance II ER PTP Participation Rate |
Point to Point
Annual
|
75%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 10% | 10% | 10% | 9% | 8% | 6% | 5% | 4% | 3% | 1% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Allianz 360 Benefit: Option 1 | Yes | 0.95% annually (3.00% max) |
| Allianz 360 Benefit: Option 2 | Yes | 0.95% annually (3.00% max) |
Waivers
Nursing Home
Unavailable in states: KS, MA, NJ, OR, and PA
After one year of deferral, should the owner enter a qualifying nursing home or hospital, or any combination of the two, for 30 out of 35 consecutive days, the owner can take the accumulation value as annuity payments over at least five years. There is no fee to this benefit. Available in most states.
Premium Notes
Allianz 360 is designed to help you accumulate savings for retirement. That's why we give you the flexibility of making additional premium payments until the first day of the 19th month of your contract, the date annuity payments begin, or the date Lifetime withdrawal payments begin, whichever comes first. Flexible premium Payments available via lump sump or systematic payments during funding window (monthly, quarterly, semiannually or annually).
Notes:
Notes:
- Allianz takes TSP (Traditional savings plans) as a direct rollover to an IRA.
- Allianz accepts Roth IRA conversions:
While a Roth IRA conversion does create ordinary income in the year of conversion, as long as the distributions from the Roth IRA are qualified, all growth after that is income-tax-free. Generally, if the taxpayer anticipates being subject to higher tax rates in the future than the taxpayer is subject to today, Roth IRA conversions might help the client ultimately have a source of income that is free from income taxes in retirement. Converting a qualified plan or Traditional IRA to a Roth IRA is a taxable event.
Withdrawal Provisions
Free Withdrawals
In the contract year following the most recent premium payment, up to 10% of the contract's premium paid, minus withdrawals, can be withdrawn each contract year without incurring surrender charges or MVA or penalties; maximum is cash surrender value.
In the contract year following the most recent premium payment, up to 10% of the contract's premium paid, minus withdrawals, can be withdrawn each contract year without incurring surrender charges or MVA or penalties; maximum is cash surrender value.
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