Allianz Retirement Foundation ADV
Highlights
The Retirement Foundation ADV has a 7-year surrender charge period with an MVA provision. When you’re ready to start receiving income, the Retirement Foundation ADV Annuity with its built-in Income Benefit rider (automatically included at an additional cost):
- Gives you increasing lifetime withdrawal percentages every year until you begin withdrawals, and
- Guarantees an income for life through your choice of lifetime withdrawals, predictable payments, and payments with the opportunity to increase. Both options are available for single or joint lives.
- Annual payout percentage increases apply to ages 45 and above. Lifetime benefit withdrawals cannot begin before age 50.
The annual charge is a percentage of the contract accumulation value and can range from a minimum to a maximum.
After the first contract year, the annual Benefit rider charge can change, but it will never be greater than the maximum Benefit rider charge.
The rider charge will continue for the life of the contract even after lifetime income payments have begun.
Cumulative withdrawal amount; Nursing Home Benefit; Flexible Annuity Option Rider.
|
Type
|
Fixed Index |
|---|---|
| Purpose | Lifetime Income |
|
Term
|
7 Years |
|
Surrender schedule
|
6.5%6%5%4%3%2%1% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Minimum contribution
|
$10,000 |
|
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 |
Brochure
|
Open brochure |
Find out if the Allianz Retirement Foundation ADV is the right product for you.
Premium Notes
- 0-80
- Initial minimum: $10,000, qualified and nonqualified
- Maximum premium: $1,000,000 without approval
- Additional premium may be accepted through first three contract years. Flexible premium Payments available via lump sump or systematic payments during funding window (monthly, quarterly, semiannually or annually).
- 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
After the contract anniversary following your most recent premium payment, you can take up to 10% of your contract's paid premium each contract year in one or more withdrawals free of withdrawal charges, MVAs, and penalties. Withdrawals reduce contract values and the value of any income and death benefits.
Partial Withdrawal
Prior to the seventh contract anniversary, If you take out more than 10% of your contract year, we'll apply a partial withdrawal charge and MVA to the amount above 10% (the excess partial withdrawal).
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.8%
Fixed
|
| 1-Year Bloomberg Dynamic Balance II PTP Cap |
Point to Point
Annual
|
6%
Cap
|
| 1-Year Nasdaq-100 PTP Cap |
Point to Point
Annual
|
6%
Cap
|
| 1-Year Russell 2000 PTP Cap |
Point to Point
Annual
|
6%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
6%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Retirement Foundation ADV Annuity - Income Benefit Rider Option 1 | Yes | 1.25% annually (1.25% max) |
| Retirement Foundation ADV Annuity - Income Benefit Rider Option 2 | Yes | 1.25% annually (1.25% max) |
Waivers
Hospital
Unavailable in states: KS, MA, NJ, OR, and PA
If you held your annuity for at least a year, you're admitted to a nursing home, assisted living care facility, or hospital, and you are there for at least 30 days in a 35 day period, you can take out as much as your full accumulation value without a surrender charge and MVA. There is a monthly fee charged for this rider assessed against your accumulation value.
Nursing Home
Unavailable in states: KS, MA, NJ, OR, and PA
If you held your annuity for at least a year, you're admitted to a nursing home, assisted living care facility, or hospital, and you are there for at least 30 days in a 35 day period, you can take out as much as your full accumulation value without a surrender charge and MVA. There is a monthly fee charged for this rider assessed against your accumulation value.
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