Allianz Benefit Control+
Allianz Benefit Control+
About Product
Income Flex Benefit (not illustrated)
The Income Flex Benefit is designed to give you more financial flexibility to adjust to unexpected expenses. Starting on the first contract anniversary after you begin lifetime withdrawals, you can choose to waive your income increase in any crediting period where you earn an interest credit, and instead set aside an additional withdrawal amount called the Income Flex Benefit Amount. And, you have the option to take a withdrawal from that amount at any point in the year, which can aid you in effectively managing your finances during challenging times.
Blended Futures Index
The Blended Futures Index is comprised of four sub-indexes: S&P 500 Futures Index ER, Bloomberg International Equity Custom Futures ER Index, Bloomberg US 10yr Note Custom Futures ER Index, and Bloomberg US Small Cap Custom Futures ER Index.
Exercising an Index Lock may result in an interest credit higher or lower than had the lock not been exercised. Allianz will not provide advice or notification regarding whether to exercise an Index Lock or the optimal time for doing so.
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.
Annual point-to-point, 2-year MY point-to-point, and 5-year MY point-to-point crediting methods are subject to an allocation charge, deducted annually from the contract accumulation value and guaranteed minimum value (in most states). The current allocation charge percentage is 0%. After contract issue, the allocation charge percentage can only change when specified criteria are met, and can never be greater than the maximum allocation charge percentage of 2.5%.
The charge does not impact the contract Protected Income Value (PIV).
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
2.8%
Fixed
|
| 1-Year Blended Futures PTP Participation Rate |
Point to Point
Annual
|
55%
Participation
|
| 5-Year Bloomberg US Dynamic Balance III ER MY PTP Participation Rate |
Point to Point
5-Year
|
265%
Participation
|
| 5-Year Morgan Stanley Strategic Trends 10 ER MY PTP Participation Rate |
Point to Point
5-Year
|
160%
Participation
|
| 5-Year PIMCO Tactical Balanced ER MY PTP Participation Rate |
Point to Point
5-Year
|
250%
Participation
|
| 5-Year S&P 500 Futures ER MY PTP Participation Rate |
Point to Point
5-Year
|
100%
Participation
|
| 2-Year Bloomberg US Dynamic Balance III ER MY PTP Participation Rate |
Point to Point
Biennial
|
160%
Participation
|
| 2-Year Morgan Stanley Strategic Trends 10 ER MY PTP Participation Rate |
Point to Point
Biennial
|
95%
Participation
|
| 2-Year PIMCO Tactical Balanced ER MY PTP Participation Rate |
Point to Point
Biennial
|
150%
Participation
|
| 2-Year S&P 500 Futures ER MY PTP Participation Rate |
Point to Point
Biennial
|
60%
Participation
|
| 1-Year Bloomberg US Dynamic Balance III PTP Participation Rate |
Point to Point
Annual
|
105%
Participation
|
| 1-Year Morgan Stanley Strategic Trends 10 ER PTP Participation Rate |
Point to Point
Annual
|
65%
Participation
|
| 1-Year PIMCO Tactical Balanced ER PTP Participation Rate |
Point to Point
Annual
|
100%
Participation
|
| 1-Year S&P 500 Futures ER PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5.25%
Cap
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
1.8%
Cap
|
| 1-Year S&P 500 Performance Trigger |
Performance Triggered
Annual
|
4.5%
Performance triggered
|
| 1-Year Bloomberg US Dynamic Balance III ER Highest Daily Value with Participation Rate |
Allianz Highest Daily Value Strategy
Annual
|
52%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 9% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Allianz Benefit Control Accelerated PIV rider | Yes | |
| Allianz Benefit Control Balanced PIV rider | Yes | |
| Allianz Benefit Control Accelerated PIV rider (AL, CT, HI, MD, NJ, OR, PA, UT, WA) | Yes | |
| Allianz Benefit Control Balanced PIV rider (AL, CT, HI, MD, NJ, OR, PA, UT, WA) | Yes |
Waivers
Hospital
You can receive the Allianz Income Multiplier Benefit if you can’t perform at least two of the six Activities of Daily Living (ADLs) or if you become confined to a qualified hospital, nursing facility, or assisted living facility for at least 90 days in a consecutive 120-day period.
Nursing Home
You can receive the Allianz Income Multiplier Benefit if you can’t perform at least two of the six Activities of Daily Living (ADLs) or if you become confined to a qualified hospital, nursing facility, or assisted living facility for at least 90 days in a consecutive 120-day period.
ADL
You can receive the Allianz Income Multiplier Benefit if you can’t perform at least two of the six Activities of Daily Living (ADLs) or if you become confined to a qualified hospital, nursing facility, or assisted living facility for at least 90 days in a consecutive 120-day period.
Premium Notes
You may add more premium for the first 18 contract months in any amount between $25 and $25,000, unless we approve a larger amount. Additional premium is not allowed if you have taken a partial withdrawal or required minimum distribution (RMD) in the same contract year. Additional premium is not allowed once lifetime withdrawals or annuitization have begun.
Protected Income Value Premium Bonus
Anytime you put money into your contract in the first 18 months, you’ll get a premium bonus. We’ll credit this bonus to your Protected Income Value (PIV), giving you an immediate increase in the value of your lifetime withdrawals.
Withdrawal Provisions
Free partial withdrawalsIn the years following any year in which premium is paid and before you take lifetime withdrawals, you can take up to 10% of your contract’s paid premium or beginningof-the-year accumulation value – whichever is greater – each contract year in one or more withdrawals free of withdrawal charges and partial market value adjustments (MVAs). However, free partial withdrawals will still reduce your accumulation value by the dollar amount you withdraw. Your PIV will also decrease by the same proportion the accumulation value was reduced. Enhanced penalty-free partial withdrawalsIf you do not take your full free withdrawal amount in a contract year, and you have not paid premium in that contract year, any unused free withdrawal percentage will carry over to the following contract year as an enhanced penalty-free withdrawal percentage, up to a maximum of 20%. Free withdrawals can also affect your indexed interest. If the interest rate for an indexed allocation is positive at the end of any crediting period, we will credit indexed interest to your contract based on the crediting method (including the interest bonus to the PIV) for any free withdrawals you took from that index allocation earlier that crediting period. The amount of interest will reflect the portion of the crediting period that your free withdrawal remained in the index allocation.Excess withdrawalsIf you wish, you may also take a larger withdrawal. During your contract’s first 10 years, if you take out more than your total free withdrawal amount, or take withdrawals in a contract year in which premium was paid, a partial withdrawal charge and a partial MVA will be applied to the amount greater than the free withdrawal amount.Market Value Adjustment (MVA) An MVA is a calculation we use to adjust your values according to the interest rate environment when you take your withdrawal. The MVA may increase or decrease your contract’s cash value. However, the MVA can never cause your contract’s cash value to be less than the guaranteed minimum value or more than the accumulation value.
- A.M. Best A+
- S&P AA
- Moody's Aa3
- Comdex 96
