balanced approach to pursuing your annuity values with a 150% PIV interest Your beneficiary(ies) can receive the greater of the accumulation value, guaranteed minimum value, or cumulative withdrawal amount as a lump sum (this option doesn't include any premium or interest bonuses). While you're saving for retirement, Allianz Benefit Control Annuity can help by giving you two ways to get a bonus to your Protected Income Value (PIV): And when you're ready to start receiving income, your lifetime withdrawals can increase based on any interest you’ve earned, in addition to the interest bonus. You may have heard about annuities – but how do they work, and what makes them different from other financial products? is often an irreversible decision and usually you will have high This is not meant to be specific advice. All content is for educational purposes only. Allianz Life Annuities was founded in 1896 and is backed by the large global corporation, Allianz SE. say that having the Allianz Benefit Control may not be a good way to meet your Here are some questions they can help answer: 1 BlackRock iBLD Claria® Index and BlackRock iBLD Claria® ER Index are not available in Iowa. This is an independent review at the request of readers. If it is partially surrendered the PIV will be reduced proportionally, which could result in a partial loss of bonuses. The cash component is represented by the 3 month LIBOR rate. While the Allianz 222 and Allianz Core Income 7 remain highly successful in their own right, the new Allianz Benefit Control Annuity or Allianz ABC Annuity brings with it some new unique features. You will not receive these bonuses if the contract is fully surrendered or if traditional annuitization payments are taken. The Bloomberg Barclays US Aggregate Custom RBI Unfunded Index is comprised of a portfolio of derivative instruments that are designed to provide exposure to U.S. Investment-grade and Treasury bond markets in excess of a benchmark rate. Allianz is a multinational financial services provider based in Munich, Germany. Also, you can’t take this value as a lump sum. For annual point-to-point with a participation rate and 2-year point-to-point with a participation rate, we multiply the index change at the end of the crediting period by the participation rate to determine the indexed interest rate for the crediting period. Product and feature availability may vary by state and broker/dealer. Allianz products are not sponsored, endorsed, sold or promoted by Russell Investments and Russell Investments makes no representation regarding the advisability of investing in Allianz products. Plus, you can double your annual maximum available for withdrawal under qualifying circumstances. are protected. John’s withdrawal amounts will never go down and when they go up, they are locked in at the higher level. The “PIMCO Tactical Balanced Index” is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and Pacific Investment Management Company LLC (“PIMCO”), and has been licensed for use by Allianz Life Insurance Company of North America (“Allianz”). Allianz products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, or PIMCO and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the PIMCO Tactical Balanced Index. To receive the PIV, including the value of these bonuses, lifetime withdrawals must be taken. In the Allianz 222 Annuity, if you selected monthly sum crediting, you would be credited with a gain of 2.26%. This is the amount you because his PIV grew up to $185,918 so his lifetime withdrawal will begin with $6,972. That’s not a good sign. annuity offers income increases every time your contract earns interest. The BlackRock iBLD Claria® Index is comprised of an equity component, a bond component, and a cash component. That’s why we I question your quoted free annual withdrawal on this product – you say at only 3.75 % of the accumulated value. Talk to your financial professional to see if Allianz Benefit Control Annuity is appropriate for you. In this same example, as John starts lifetime withdrawal, his withdrawal amount can increase anytime his allocations earn interest. Since the contract includes the Allianz Income Multiplier benefit, beginning on his next contract anniversary, his withdrawal amount doubles from $9,196 to $18,392 for the two years it takes to recover. during The Accumulation Phase. Download our Pre-Retiree Annuity Guide Before You Buy! Guarantees are backed by the financial strength and claims-paying ability of Allianz Life Insurance Company of North America. All names, marks, and materials used for this review are property of their respective owners. It might, but it’s BlackRock does not guarantee the adequacy, accuracy, timeliness, and/or completeness of the Indices or any data or communication related thereto nor does it have any liability for any errors, omissions or interruptions of the Indices. The Purpose of this review is to show you where Allianz Benefit Control Annuity is strong and where it has weaknesses, so that you can make an informed decision, considering all available facts. Below there’s a hypothetical example that shows how increasing income works: Before getting into details To better understand the Plan → Analyze → Retire with Peace of Mind, AnnuityEdu.com offers independent annuity product reviews. In fact, this annuity actually received 46 1-star reviews from customers. 360 Qualified Plan Acknowledgement Form and ERISA Disclosure - 360-ERPOS. The MVA reference rate is a component used to calculate the MVA. that most annuities in the industry don’t have. Allianz Benefit ControlSMFixed Index Annuity An overview of Allianz Benefit Control As you’ve just read, fixed index annuities are designed to help you accumulate for retirement – and also provide guaranteed retirement income. perform in your specific situation. The "PIMCO Tactical Balanced ER Index" (the "Index") is a rules-based index that tactically allocates across U.S. equity and fixed income markets using quantitative signals. Allianz Income Plus Benefit 4 This hypothetical illustration is based on actual historical S&P 500® Index performance from December 31, 2002 to December 31, 2013, and assumes: • The annuity contract and Income Plus Benefit were available during the time period shown and both were issued on 1/1/2003, at … John is 58 years old and would like to retire at 65, assuming he buys the ABC for $100,000, the annuity immediately adds a 10% bonus to his PIV, so he’d have $110,000 right away. Also, his accumulation value will receive a 3% credit increasing to $107,674. Caps or spreads would still apply. Neither Bloomberg nor Barclays is affiliated with Allianz Life Insurance Company of North America (“Allianz”), and neither approves, endorses, reviews or recommends the Allianz product. Your advisor may know more about your circumstances to make an appropriate recommendation. Confinement must occur after the first contract year and either during the contract year before the start of lifetime income withdrawals or at any time thereafter. Neither Bloomberg nor Barclays guarantees the timeliness, accurateness or completeness of any data or information relating to the Indices, and neither shall be liable in any way to Allianz, investors in the Allianz product or other third parties in respect of the use or accuracy of the Indices or any data included therein. The Nasdaq-100 Index® includes 100 of the largest domestic and international non-financial securities listed on The NASDAQ Stock Market® based on market capitalization. Nothing on this website is a recommendation to buy or sell an annuity. Based on the more than 100 reviews that have been received by Consumer Affairs for the Allianz 222 annuity, this product has been rated at just under 2 stars out of five. proprietary calculator to illustrate for you how this annuity will likely 50% accumulation value interest factor, Balanced PIV interest bonus option The Bloomberg US Equity Custom Futures ER Index is designed to provide exposure to large-cap U.S. stocks in excess of a benchmark rate. [You can send us your questions here via our Free Annuity If you request an index lock prior to 4:00 p.m. Eastern time on a business day, the index will lock at the ending index value of that day. These withdrawal charges may vary by state. The Bloomberg US Dynamic Balance II ER Index is comprised of the Bloomberg Barclays US Aggregate Custom RBI Unfunded Index and the Bloomberg US Equity Custom Futures ER Index and shifts weighting daily between them based on realized market volatility. Allianz products are not sponsored, endorsed, sold, or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, or their respective affiliates and neither S&P Dow Jones Indices LLC, Dow Jones, S&P, or their respective affiliates make any representation regarding the advisability of investing in such product. Once you begin lifetime withdrawals, you will continue to have the opportunity to earn an interest bonus based on the Balanced PIV interest bonus option: Accelerated PIV interest bonus option 100% accumulation value interest factor. Allianz is the #1 seller of fixed annuities … Amounts allocated to annual point-to-point and 2-year point-to-point crediting methods are subject to an allocation charge that is deducted annually from the accumulation value and guaranteed minimum value. One of the best features of this annuity is the potential to capture interest with the index lock feature, which lets you lock in an index value on an indexed interest allocation at any point during the crediting period, this means that by locking in your index value you are guaranteed with a positive index credit, no matter what happens in the market during the remaining crediting period. InSource . ×Warning: It appears that you have disabled cookies. Learn how your comment data is processed. Or, they can receive the Protected Income Value – including the premium and interest bonuses – in payments over a minimum of five years, limited to 250% of the accumulation value (PIV death benefit limit can vary by state). BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). This is an independent product review, not a recommendation to buy or sell an annuity. • Not FDIC insured • May lose value • No bank or credit union guarantee • Not a deposit • Not insured by any federal government agency or NCUA/NCUSIF, Products are issued by Allianz Life Insurance Company of North America, PO Box 59060, Minneapolis, MN 55459-0060. Allianz has launched the ABC annuity Download the Brochure > Download the Rate Sheet > Download the “Understanding the Rider” PDF > A product change was made to the 222 New product training is required to continue to sell that product. The S&P 500 and Dow Jones Industrial Average (DJIA) are products of S&P Dow Jones Indices LLC and/or its affiliates and have been licensed for use by Allianz. 150% interest bonus to PIV This review is on the Allianz Benefit Control Fixed index Annuity. Your retirement goals excess of a benchmark rate Allianz offers two types of annuities to address unique! 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