Index Advantage+ Income
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Highlights
Allianz Index Advantage Income Variable Annuity to help you meet your retirement income goals. It provides tax deferral, Withdrawals will reduce the contract value and the value of any protection benefits. Withdrawals taken within the contract withdrawal charge schedule will be subject to a withdrawal charge. a variety of lifetime payout options to help you prepare for retirement including annuity payments and income payments, and a choice between two death benefit options (one optional, and at an additional cost) during the accumulation phase
Issue Age
On the date we issue the Contract (the Issue Date), all Owners and the Annuitant must be:
Issue Age
On the date we issue the Contract (the Issue Date), all Owners and the Annuitant must be:
- age 80 or younger if you select the Traditional Death Benefit, or
- age 75 or younger if you select the Maximum Anniversary Value Death Benefit. The Owner is the person or entity designated at issue who may exercise all Contract rights. The Annuitant is the individual upon whose life we base Annuity Payments.
Product and Rider Fees:
Accrued daily and deducted on each Quarterly Contract Anniversary. Each fee is calculated as a percentage of the Charge Base ( the Contract Value on the preceding Quarterly Contract Anniversary, adjusted for subsequent Purchase Payments and withdrawals).
Accrued daily and deducted on each Quarterly Contract Anniversary. Each fee is calculated as a percentage of the Charge Base ( the Contract Value on the preceding Quarterly Contract Anniversary, adjusted for subsequent Purchase Payments and withdrawals).
- Product Fee is 1.25%
- Rider Fee is 0.70% for the Income Benefit.
- Rider fee is 0.20% for the Maximum Anniversary Value Death Benefit. If you select this benefit, you will pay 2.15% in total annual Contract fees (product fee plus the rider fees).
Other Contract Fees and Expenses
- An 8.5% declining withdrawal charge applies to withdrawals taken within six years after receipt of each Purchase Payment during the Accumulation Phase, and during the Income Period to Excess Withdrawals (the amount of any withdrawal taken during an Index Year that when added to other withdrawals and scheduled Income Payments is greater than your annual maximum Income Payment).
- $50 contract maintenance charge assessed annually if the total Contract Value is less than $100,000.
- AZL Government Money Market Fund operating expenses before fee waivers and expense reimbursements of 0.88% of the average daily net assets.
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, NM, NC, ND, OH, OK, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY
|
Type
|
Registered Index-Linked |
|---|---|
| Purpose | Lifetime Income |
|
Term
|
6 Years |
|
Surrender schedule
|
8%8%7%6%5%4% |
|
Free withdrawal
|
10% |
| Flexible premium | Product Life |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Minimum contribution
|
$5,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
80 |
|
Types of funds
|
Non-Qualified, 401k, IRA, 401a, IRA Transfer, SEP IRA, IRA-Roth, and TSP |
Brochure
|
Open brochure |
Find out if the Index Advantage+ Income is the right product for you.
Premium Notes
Daily Adjustment
On days other than the Term Start Date and Term End Date the index options are valued through the daily adjustment, which is the estimated present value of the future Performance Credit.
The Daily Adjustment can be negative with the Index Precision Strategy, Index Guard Strategy, and Index Performance Strategy. You will lose money if the Daily Adjustment is negative. The Daily Adjustment could reflect significantly less gain, or more loss than we would apply to an Index Option on the Term End Date. If you select multiple multi-year Term Index Options, there may be no time that any such transaction can be performed without the application of at least one Daily Adjustment.
On days other than the Term Start Date and Term End Date the index options are valued through the daily adjustment, which is the estimated present value of the future Performance Credit.
The Daily Adjustment can be negative with the Index Precision Strategy, Index Guard Strategy, and Index Performance Strategy. You will lose money if the Daily Adjustment is negative. The Daily Adjustment could reflect significantly less gain, or more loss than we would apply to an Index Option on the Term End Date. If you select multiple multi-year Term Index Options, there may be no time that any such transaction can be performed without the application of at least one Daily Adjustment.
Note: we take TSP as a direct rollover to an IRA
Withdrawal Provisions
Free Withdrawal Privilege
Allows you to withdraw 10% of your total Purchase Payments each Contract Year during the Accumulation Phase and before the Income Period without incurring a withdrawal charge. A Contract Year is any period of twelve months beginning on the Issue Date or a subsequent Contract Anniversary. A Contract Anniversary is a twelve-month anniversary of the Issue Date or any subsequent Contract Anniversary.
Allows you to withdraw 10% of your total Purchase Payments each Contract Year during the Accumulation Phase and before the Income Period without incurring a withdrawal charge. A Contract Year is any period of twelve months beginning on the Issue Date or a subsequent Contract Anniversary. A Contract Anniversary is a twelve-month anniversary of the Issue Date or any subsequent Contract Anniversary.
- Any unused free withdrawal privilege in one Contract Year is not added to the amount available in the next Contract Year.
- If you withdraw more than the free withdrawal privilege we will assess a withdrawal charge if the withdrawal is taken from a Purchase Payment we received within the last six years.
- Not available if you take a full withdrawal of your total Contract Value or during the Income Period.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year EURO STOXX 50 Dual Precision Strategy with 10% Buffer |
Dual Step Up
Annual
|
10%
Performance triggered
|
| 1-Year iShares MSCI Emerging Markets ETF Dual Precision Strategy with 10% Buffer |
Dual Step Up
Annual
|
8.9%
Performance triggered
|
| 1-Year Nasdaq-100 Dual Precision Strategy with 10% Buffer |
Dual Step Up
Annual
|
11.4%
Performance triggered
|
| 1-Year Russell 2000 Dual Precision Strategy with 10% Buffer |
Dual Step Up
Annual
|
11%
Performance triggered
|
| 1-Year S&P 500 Dual Precision Strategy with 10% Buffer |
Dual Step Up
Annual
|
10.1%
Performance triggered
|
| 3-Year S&P 500 PTP Cap Performance Strategy with 20% Buffer Uncapped |
Point to Point
Triennial
|
100%
Participation
|
| 1-Year S&P 500 PTP Performance Strategy with 10% Buffer |
Point to Point
Annual
|
20.75%
Cap
|
| 3-Year S&P 500 PTP Participation Rate Performance Strategy with 10% Buffer |
Point to Point
Triennial
|
110%
Participation
|
| 3-Year Russell 2000 PTP Participation Rate Performance Strategy with 10% Buffer |
Point to Point
Triennial
|
110%
Participation
|
| 6-Year S&P 500 PTP Participation Rate Performance Strategy with 10% Buffer |
Point to Point
6-Year
|
130%
Participation
|
| 6-Year Russell 2000 PTP Participation Rate Performance Strategy with 10% Buffer |
Point to Point
6-Year
|
125%
Participation
|
| 6-Year S&P 500 PTP Participation Rate Performance Strategy with 20% Buffer |
Point to Point
6-Year
|
120%
Participation
|
| 6-Year Russell 2000 PTP Participation Rate Performance Strategy with 20% Buffer |
Point to Point
6-Year
|
115%
Participation
|
| 1-Year S&P 500 PTP Performance Strategy with 20% Buffer |
Point to Point
Annual
|
13.5%
Cap
|
| 1-Year S&P 500 PTP Performance Strategy with 30% Buffer |
Point to Point
Annual
|
11.25%
Cap
|
| 1-Year Russell 2000 PTP Performance Strategy with 20% Buffer |
Point to Point
Annual
|
16.25%
Cap
|
| 1-Year Russell 2000 PTP Performance Strategy with 30% Buffer |
Point to Point
Annual
|
13%
Cap
|
| 1-Year Nasdaq-100 PTP Performance Strategy with 20% Buffer |
Point to Point
Annual
|
13.75%
Cap
|
| 1-Year Nasdaq-100 PTP Performance Strategy with 30% Buffer |
Point to Point
Annual
|
11.25%
Cap
|
| 1-Year iShares MSCI Emerging Markets ETF PTP Performance Strategy with 20% Buffer |
Point to Point
Annual
|
20.25%
Cap
|
| 1-Year iShares MSCI Emerging Markets ETF PTP Performance Strategy with 30% Buffer |
Point to Point
Annual
|
15%
Cap
|
| 1-Year EURO STOXX 50 PTP Performance Strategy with 20% Buffer |
Point to Point
Annual
|
23.5%
Cap
|
| 1-Year EURO STOXX 50 PTP Performance Strategy with 30% Buffer |
Point to Point
Annual
|
21%
Cap
|
| 3-Year Russell 2000 PTP Cap Performance Strategy with 20% Buffer Uncapped |
Point to Point
Triennial
|
100%
Participation
|
| 1-Year S&P 500 PTP Guard Strategy |
Point to Point
Annual
|
17.75%
Cap
|
| 1-Year Russell 2000 PTP Guard Strategy |
Point to Point
Annual
|
21.5%
Cap
|
| 1-Year Nasdaq-100 PTP Guard Strategy |
Point to Point
Annual
|
17.75%
Cap
|
| 1-Year EURO STOXX 50 PTP Performance Strategy with 10% Buffer |
Point to Point
Annual
|
29.5%
Cap
|
| 1-Year iShares MSCI Emerging Markets ETF PTP Guard Strategy |
Point to Point
Annual
|
22%
Cap
|
| 1-Year EURO STOXX 50 PTP Guard Strategy |
Point to Point
Annual
|
29.5%
Cap
|
| 1-Year S&P 500 PTP Cap Protection Strategy |
Point to Point
Annual
|
5.5%
Cap
|
| 1-Year Russell 2000 PTP Cap Protection Strategy |
Point to Point
Annual
|
6.25%
Cap
|
| 1-Year Nasdaq-100 PTP Cap Protection Strategy |
Point to Point
Annual
|
6.5%
Cap
|
| 1-Year iShares MSCI Emerging Markets ETF PTP Cap Protection Strategy |
Point to Point
Annual
|
7.5%
Cap
|
| 1-Year EURO STOXX 50 PTP Cap Protection Strategy |
Point to Point
Annual
|
7.25%
Cap
|
| 1-Year iShares MSCI Emerging Markets ETF PTP Performance Strategy with 10% Buffer |
Point to Point
Annual
|
27.5%
Cap
|
| 1-Year Nasdaq-100 PTP Performance Strategy with 10% Buffer |
Point to Point
Annual
|
21.25%
Cap
|
| 1-Year Russell 2000 PTP Performance Strategy with 10% Buffer |
Point to Point
Annual
|
23.5%
Cap
|
| 1-Year iShares MSCI Emerging Markets ETF Precision Strategy |
Performance Triggered
Annual
|
10.7%
Performance triggered
|
| 1-Year S&P 500 Precision Strategy |
Performance Triggered
Annual
|
11.4%
Performance triggered
|
| 1-Year Russell 2000 Precision Strategy |
Performance Triggered
Annual
|
13.7%
Performance triggered
|
| 1-Year Nasdaq-100 Precision Strategy |
Performance Triggered
Annual
|
13.5%
Performance triggered
|
| 1-Year EURO STOXX 50 Precision Strategy |
Performance Triggered
Annual
|
13.3%
Performance triggered
|
| 1-Year Nasdaq-100 Protection Strategy with DPSC |
Performance Triggered
Annual
|
5.3%
Performance triggered
|
| 1-Year S&P 500 Protection Strategy with DPSC |
Performance Triggered
Annual
|
5.2%
Performance triggered
|
| 1-Year Russell 2000 Protection Strategy with DPSC |
Performance Triggered
Annual
|
5.5%
Performance triggered
|
| 1-Year EURO STOXX 50 Protection Strategy with DPSC |
Performance Triggered
Annual
|
5.6%
Performance triggered
|
| 1-Year iShares MSCI Emerging Markets ETF Protection Strategy with DPSC |
Performance Triggered
Annual
|
5.1%
Performance triggered
|
| 1-Year iShares MSCI Emerging Markets ETF Dual Precision Strategy with 20% Buffer |
Dual Step Up
Annual
|
6.8%
Performance triggered
|
| 1-Year EURO STOXX 50 Dual Precision Strategy with 20% Buffer |
Dual Step Up
Annual
|
7.6%
Performance triggered
|
| 1-Year EURO STOXX 50 Dual Precision Strategy with 30% Buffer |
Dual Step Up
Annual
|
6.5%
Performance triggered
|
| 1-Year S&P 500 Dual Precision Strategy with 30% Buffer |
Dual Step Up
Annual
|
7%
Performance triggered
|
| 1-Year Russell 2000 Dual Precision Strategy with 20% Buffer |
Dual Step Up
Annual
|
8.3%
Performance triggered
|
| 1-Year Russell 2000 Dual Precision Strategy with 30% Buffer |
Dual Step Up
Annual
|
6.8%
Performance triggered
|
| 1-Year Nasdaq-100 Dual Precision Strategy with 30% Buffer |
Dual Step Up
Annual
|
6.9%
Performance triggered
|
| 1-Year Nasdaq-100 Dual Precision Strategy with 20% Buffer |
Dual Step Up
Annual
|
8.4%
Performance triggered
|
| 1-Year iShares MSCI Emerging Markets ETF Dual Precision Strategy with 30% Buffer |
Dual Step Up
Annual
|
6%
Performance triggered
|
| 1-Year S&P 500 Dual Precision Strategy with 20% Buffer |
Dual Step Up
Annual
|
8%
Performance triggered
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 |
|---|---|---|---|---|---|---|
| Penalty | 8% | 8% | 7% | 6% | 5% | 4% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Maximum Anniversary Value Death Benefit | No | 0.20% annually |
| Index Advantage Income Benefit Level | Yes | 0.70% annually |
| Index Advantage Income Benefit Increasing | Yes | 0.70% annually |
Waivers
Nursing Home
Unavailable in states: MA
After the first Contract Year, if any Owner becomes confined to a nursing home for a period of at least 90 consecutive days and a physician certifies that continued confinement is necessary, you can take withdrawals and we waive the withdrawal charge. This waiver is not available if any Owner was confined to a nursing home on the Issue Date. We base this benefit on the Annuitant for non-individually owned Contracts. We must receive proof of confinement in Good Order for each withdrawal before we waive the withdrawal charge.
ADL
Unavailable in states: MA
After the first Contract Year, you can take withdrawals and we waive the withdrawal charge if you are unable to perform at least two of six activities of daily living (ADLs) for at least 90 consecutive days. ADLs include bathing, dressing, toileting, continence, eating, and transferring (moving into or out of a bed, chair, or wheelchair).
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