1 Policy loans and withdrawals will reduce the available cash value and death benefit and may cause the policy to lapse, or affect guarantees against lapse. Withdrawals in excess of premiums paid will be subject to ordinary income tax. Additional premium payments may be required to keep the policy in force. In the event of a lapse, outstanding policy loans in excess of unrecovered cost basis will be subject to ordinary income tax. If a policy is a modified endowment contract (MEC), policy loans and withdrawals will be taxable as ordinary income to the extent there are earnings in the policy. If any of these features are exercised prior to age 59½ on a MEC, a 10% federal additional tax may be imposed. Tax laws are subject to change and you should consult a tax professional.
The Index Lock feature is available with select allocation options.
Because the Index Lock occurs at the end of the business day, the index value used to determine interest credited may be higher or lower than the index value at the time of request.
When using sales material with clients, please ensure all applicable accompanying product brochures and/or marketing materials are presented.
2 Setting targets authorizes Allianz to automatically activate an Index Lock once the target is reached, based on the index interest rate percentage at the end of the business day. Because of this, the index interest rate percentage may be higher or lower than the target.
Exercising an Index Lock may result in a credit higher or lower than if the Index Lock had not been exercised. We will not provide advice or notification regarding whether to exercise an Index Lock or the optimal time for doing so.
3 Lower targets can only be set below the current index interest rate percentage and must be greater than zero.
4 You may activate an Index Lock manually online at any time, as long as an Auto Lock hasn’t already been activated. Activating Index Lock manually will cancel any current targets set for the current crediting period. If a decision is made to activate an Index Lock manually – or if neither target has been reached at the end of your current crediting period and auto renew is not active – new targets for the next crediting period will need to be set.
5 Setting targets authorizes Allianz to automatically activate an Index Lock once the target is reached, based on the index interest rate percentage at the end of the business day. Targets need to be renewed after each crediting period unless auto-renewal is active.
6 Activating Index Lock manually will cancel any current targets you have set for the current crediting period.
