Index Advantage+ Income
The Index Advantage+ Income goes beyond being a mere annuity. It's a reliable friend that ensures a steady income during your golden years. Its sturdy earnings and sturdy growth make it a smart, future-loving choice.
Want a relaxing retirement? This product has benefits such as flexible withdrawals and profit participation. This isn't just financial security, it's peace of mind. The Index Advantage+ income is definitely worth considering!
Index Advantage+ Income
About Product
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).
- 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.
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.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year EURO STOXX 50 Dual Precision Strategy with 10% Buffer |
Dual Step Up
Annual
|
10.6%
Performance triggered
|
| 1-Year iShares MSCI Emerging Markets ETF Dual Precision Strategy with 10% Buffer |
Dual Step Up
Annual
|
9.1%
Performance triggered
|
| 1-Year Nasdaq-100 Dual Precision Strategy with 10% Buffer |
Dual Step Up
Annual
|
11.7%
Performance triggered
|
| 1-Year Russell 2000 Dual Precision Strategy with 10% Buffer |
Dual Step Up
Annual
|
11.5%
Performance triggered
|
| 1-Year S&P 500 Dual Precision Strategy with 10% Buffer |
Dual Step Up
Annual
|
11%
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).
Premium Notes
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.
Withdrawal Provisions
Free Withdrawal PrivilegeAllows 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.
- A.M. Best A+
- S&P AA
- Moody's Aa3
- Comdex 96
