Allianz Benefit Control ABC Annuity Review: Rates, Features, Pros & Cons

Quick Facts

About Allianz Life Insurance Company of North America

Allianz Benefit Control Annuity Overview

Allianz ABC Key Features & Benefits

Allianz ABC annuity can be the right choice for investors who are looking for flexible growth potential, customizable income options, and added protection for future income needs. 

You can achieve all of the above thanks to the following features: 

Flexible Withdrawal Options

The Allianz Benefit Control Annuity is a fixed index annuity designed not only for retirement savings but also for accessible financial support when needed.

Allianz Benefit Control Annuity Overview

It offers the flexibility to withdraw a portion of your funds without penalties through free withdrawals.

For those aged 50 and above, immediate income withdrawals are available for earlier access to funds if required.

Index Lock

The Allianz Index Lock feature gives the annuity holder the opportunity to "lock in" the index value. 

Essentially, if the index that the annuity is tied to reaches a particularly favorable level, the owner has an option. They can choose to lock in that value as the index value used to calculate interest credits for that year.

Death Benefit

With the death benefit, if the annuity owner passes away, beneficiaries can choose one of the options to access the funds:

• Option 1: Receive the Protected Income Value (PIV) paid out over at least five years, up to 250% of the accumulation value.

• Option 2: Receive a lump sum, which will be the greater of the following:

• The accumulation value

• The guaranteed minimum value

• The cumulative withdrawal amount

Bonus Control Benefit

The Bonus Control Benefit allows you to decide how interest is credited between your two key annuity values each year - Protected Income Value (PIV) and Accumulation Value (AV). You can choose between:

Option One - Accelerated PIV Bonus Rider

• Aggressively pursue your income savings goals

• 250% PIV interest bonus factor

• 50% accumulation value interest factor

How it works:

• 2.5 times any earned interest is credited to your PIV

• Half of any indexed interest is credited to your accumulation value

Ideal if you plan to take income withdrawals in the future, as withdrawals are based on the PIV.

Option Two - Balanced PIV Bonus Rider

• Take a more balanced approach to pursuing your annuity values

• 150% PIV interest bonus factor

• 100% accumulation value interest factor

How it works:

• 1.5 times any earned interest is credited to your PIV

• All earned interest is credited to your accumulation value

PIV's growth is more modest when compared to Option one, but after seven years, the accumulation value is higher.

Allianz Income Multiplier (AIM)

The Allianz Income Multiplier (AIM) is a unique feature that allows you to withdraw up to twice your annual maximum if you meet certain health-related conditions.

To qualify for the AIM benefit, you must have owned your annuity for at least five years and either:

• Be unable to perform at least two of the six Activities of Daily Living (ADLs) without assistance, or;

• Be confined to a qualified hospital, nursing facility, or assisted living facility for a minimum of 90 days within a 120-day period.