Allianz Index Advantage+ New York™ Variable Annuity
The Allianz Index Advantage+ New York™, a registered index-linked annuity (RILA), is designed to help you meet your financial goals. RILAs provide indexed return potential with the opportunity for varying levels of protection through multiple index options available prior to receiving annuity payments, tax-deferred growth potential, a variety of annuity options, and a death benefit during the accumulation phase. Each of the index options options offers a different level of protection and growth potential to help you customize risk/reward objectives.
RILAs are subject to investment risk, including possible loss of principal. Investment returns and principal value will fluctuate with market conditions so that contract value, upon distribution, may be worth more or less than the original cost.
Features
Allocation options
Multiple index options and a variable option are available depending on your risk tolerance and long-term retirement goals.
Index options available:
No product fee for the index options
Each index option is a combination of:
| Index Strategy* | Index | Term** | Level of protection |
|---|---|---|---|
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Index, term length, and level of protection may vary by index strategy
Although an index or indexes will affect your index option values, the Index Options do not directly participate in any stock or equity investment and are not a direct investment in an index.
Variable option available:
AZL® Government Money Market Fund1
A 1.25% Mortality and Expense Risk Charge applies to the variable option only (assessed against variable options' net asset value).
Issue age and minimum
You must be from age 0-85 in order to purchase Allianz Index Advantage+ New York™.
The minimum initial purchase payment is $10,000 for qualified and nonqualified contracts. Minimum subsequent purchase payment is $50 and maximum purchase payment is $10,000,000.2
Death benefit
Greater of contract value or total purchase payments adjusted for withdrawals (including any withdrawal charge), available only during the accumulation phase upon the first death of an owner named at issue. If there is a change in ownership the death benefit may be reduced to the contract value.
Access your money
Your contract includes a six-year withdrawal charge schedule on each purchase payment, and if taken prior to age 59½, may be subject to a 10% federal additional tax.
If you need access to your money, you can withdraw up to 10% of your purchase payments each contract year without a withdrawal charge. Any unused portion does not carry from one year to the next. On a full withdrawal, the free withdrawal privilege is not available. All withdrawals are subject to ordinary income tax and, if taken prior to age 59½, may be subject to a 10% federal additional tax.
Withdrawal charge schedule
6 years for each purchase payment (8%, 7%, 6%, 5%, 3%, 1%, 0%): All withdrawals are subject to ordinary income tax and, if taken prior to age 59½, may be subject to a 10% federal additional tax.
Tax-free transfers
Transfers between index options and the variable option are allowed on each Index Anniversary.
Performance Lock allows you to capture the current index option value during the term. Get back in (also known as early reallocation) allows you to reallocate locked index option values before the next Index Anniversary, and also, allows you to reallocate any contract value in the variable option to the index options before the next Index Anniversary.
Annuity payout options
- Life
- Joint and survivor
- Life with a guaranteed period
- Guaranteed period
- Joint and 2/3 survivor
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1 You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. The Fund is managed by an affiliate of Allianz Life Insurance Company of New York and Allianz Life Financial Services, LLC. All are affiliated companies. This Fund is subadvised. The subadvisor may have a public mutual fund with an investment objective that is similar to that of this Fund but will have different performance due to differing fees, expenses, relative cash flows, portfolio sizes, and other factors. Please see the product and Fund prospectus for more information regarding the fees associated with the AZL® Government Money Market Fund.
2 We restrict additional purchase payments. Each Index Year you cannot add more than your initial amount (total of all purchase payments received before the first Quarterly Contract Anniversary of the first Contract Year). We allow you to add up to the initial amount in the remainder of the first Index Year. Unless an early reallocation request is submitted, the purchase payments can only move into index options on the Index Effective Date or an Index Anniversary. Purchase payments received on any other day will first be held in the AZL® Government Money Market Fund. At the Index Effective Date or next Index Anniversary or as part of an early reallocation request we will transfer those assets to the selected index options.
Check the background of Allianz Life Financial Services, LLC on FINRA's BrokerCheck.
The S&P 500® Index (S&P 500®) is comprised of 500 stocks representing major U.S. industrial sectors.
S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“S&P”). This trademark has been licensed for use by S&P Dow Jones Indices LLC and its affiliates. S&P® and S&P 500® are trademarks of S&P. These trademarks have been sublicensed for certain purposes by Allianz Life Insurance Company of New York (“Allianz Life of NY”). The S&P 500 is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Allianz Life of NY. Allianz Life of NY 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.
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.
NASDAQ®, and Nasdaq-100 Index®, are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by Allianz Life Insurance Company of New York. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).
The Russell 2000® Index is an equity index that measures the performance of the 2,000 smallest companies in the Russell 3000® Index, which is made up of 3,000 of the biggest U.S. stocks. The Russell 2000® Index is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not affect the performance and characteristics of the true small-cap index.
The Russell 2000® Index (the “Index”) is a trademark of Frank Russell Company (“Russell”) and has been licensed for use by Allianz Life Insurance Company of New York (“Allianz Life of NY”). Allianz Life of NY products are not in any way sponsored, endorsed, sold or promoted by Russell or the London Stock Exchange Group companies (“LSEG”) (together the “Licensor Parties”) and none of the Licensor Parties make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the Index (upon which the Allianz Life of NY product is based), (ii) the figure at which the Index is said to stand at any particular time on any particular day or otherwise, or (iii) the suitability of the Index for the purpose to which it is being put in connection with the Allianz Life of NY product. None of the Licensor Parties have provided or will provide any financial or investment advice or recommendation in relation to the Index to Allianz Life of NY or to its clients. The Index is calculated by Russell or its agent. None of the Licensor Parties shall be (a) liable (whether in negligence or otherwise) to any person for any error in the Index or (b) under any obligation to advise any person of any error therein.
The EURO STOXX 50® provides a blue-chip representation of supersector leaders in the Eurozone. The index covers 50 stocks from 11 Eurozone countries: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain.
The EURO STOXX 50® is the intellectual property (including registered trademarks) of STOXX Limited, Zurich, Switzerland (“STOXX”), Deutsche Börse Group or their licensors, which is used under license. Allianz Life Insurance Company of New York (“Allianz Life of NY”) products are neither sponsored nor promoted, distributed or in any other manner supported by STOXX, Deutsche Börse Group or their licensors, research partners or data providers and STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not give any warranty, and exclude any liability (whether in negligence or otherwise) with respect thereto generally or specifically in relation to any errors, omissions or interruptions in the EURO STOXX 50 or its data.
For more complete information about Allianz Index Advantage+ New York™ Variable Annuity and the variable option, call your financial professional or Allianz Life Financial Services, LLC, member FINRA, at 800.624.0197 for a prospectus. The prospectuses contain details on investment objectives, risks, fees, and expenses, as well as other information about the RILA and the variable option, which you should carefully consider. Please read the prospectuses thoroughly before sending money.
Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company and do not apply to the performance of the variable subaccounts, which will fluctuate with market conditions.
• 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 New York, 1633 Broadway, 42nd Floor, New York, NY 10019-7585, and distributed by its affiliate, Allianz Life Financial Services, LLC, member FINRA, 5701 Golden Hills Drive, Minneapolis, MN 55416-1297. (L40538-01-NY)
Product and features are available only in the state of New York.
