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Fixed Indexed Annuity

Core Income 7

Allianz

4%

Best Cap

10%

Free W/D

50

Jurisdictions

Product data status: May 29, 2026

Rates, state availability, rider terms, and contract language must be confirmed with a licensed financial advisor or insurance professional before purchase. Guarantees are backed by the issuing insurer.

Live product data

Rates as of May 29, 2026, based on the latest AdvisorWorld scan of CANNEX data.

Index cap rate (PIV chassis)

4% cap on S&P 500

A seven-year fixed indexed annuity from a tri-agency-rated carrier, built around recognizable annual cap exposure across the S&P 500, Nasdaq-100, and Russell 2000 plus proprietary participation-rate strategies, with lifetime income delivered through Allianz's Protected Income Value framework rather than an optional GLWB rider.

Built-in income — no rider feeAnnual creditingAdvisorWorld + CANNEX data

Best fit

Buyers who want a shorter seven-year deferral than the carrier's ten-year accumulation contracts and lifetime income delivered through the contract's Protected Income Value framework rather than a separately-elected GLWB rider, with recognizable annual cap exposure across multiple equity benchmarks from a large tri-agency-rated carrier.

AM Best

A+ Superior

Surrender period

7 years

Free withdrawal

10%/yr

Availability

50 jurisdictions (excl. New York)

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

4% cap rate

Nasdaq-100

Nasdaq-100 Index

4.25% cap rate

Fixed Account

Fixed Account

2.6% declared rate

+ 5 volatility-controlled index options (Bloomberg US, Russell 2000...)

Lifetime Income Riders

Income rider

Core Income Benefit - Income

RMD friendly
Lifetime payout rate12.3% lifetime payout
Annual rider fee1.25% annual rider fee

Product analyst notes

How to think about this contract

Why it can stand out

  • Surrender period runs seven years rather than the ten-year ladder Allianz uses on its longer-deferral FIAs, so the lockup commitment here is meaningfully shorter than the carrier's accumulation-led contracts.
  • Crediting menu spans recognizable annual cap strategies on the S&P 500, Nasdaq-100, and Russell 2000, so a buyer gets like-for-like comparability against other FIAs across three different equity benchmarks in one contract.
  • Includes a two-year crediting term on a volatility-controlled index strategy at a participation rate above 100%, giving buyers a higher-participation longer-look option alongside the one-year cap strategies.
  • Carrier financial strength is rated by three agencies — A.M. Best, Moody's, and Standard & Poor's all publish current ratings on Allianz Life — so the strength view on this page is triangulated rather than single-sourced.
  • Free-withdrawal allowance, the full seven-year surrender ladder, the market-value-adjustment flag, and the nursing-home waiver are all visible on this page rather than buried in a brochure.

What to confirm

  • This is NOT a GLWB-rider product despite the 'Core Income' name. Allianz delivers the lifetime-income guarantee through its Protected Income Value (PIV) framework — a separate income-tracking value built into the contract structure — rather than through an optional GLWB rider with a published withdrawal-rate column. The Allianz Income Multiplier Benefit shown here is an activities-of-daily-living waiver, not the base PIV income mechanism — it can double income payments on a qualifying health event, but it is not what funds the contract's lifetime income. The income guarantee IS the design; do not compare its lifetime payout side-by-side with a rider-led product without accounting for the mechanic difference.
  • Allianz also issues an Essential Income 7 on the same seven-year surrender chassis. The two contracts share the surrender ladder, free-withdrawal allowance, and waiver structure, but Essential Income 7 carries a leaner index menu — confirm with the carrier which contract the illustration is built against before signing.
  • Several of the index options are proprietary, volatility-controlled excess-return indexes (Bloomberg US Dynamic Balance Index II, Bloomberg US Dynamic Balance II ER). Their participation rates can look high in absolute terms but are not directly comparable to an S&P 500 cap — evaluate each on its own historical and forward characteristics.
  • A market value adjustment applies on surrenders above the free-withdrawal allowance, which can move the actual amount received up or down with interest rates — confirm with the carrier how the MVA is computed before any planned partial surrender.
  • Minimum-premium and issue-age bounds are not consistently shown on this page — confirm contract minimums and eligibility, along with the maximum annuitization age, with the carrier before purchase.

Not ideal for

Buyers who need a contractually published GLWB withdrawal-rate rider (this contract delivers income through PIV, not a rider), want a plain MYGA-style declared rate, or need shorter-than-seven-year liquidity — none of those are what this contract is built to deliver.

All crediting strategies

View rate listings (16 rows)

These are the current crediting strategy listings returned for this product. Use the filters to narrow by index, term, premium band, or rate type.

Par: 100% + Spread: 4.25% · 1-yr

Bloomberg US Dynamic Balance Index II

participation

7-yr surrender

Par: 90% · 1-yr

Bloomberg US Dynamic Balance II ER Index

participation

7-yr surrender

Cap: 4.25% · 1-yr

Nasdaq-100 Index

cap

7-yr surrender

Cap: 4.25% · 1-yr

Russell 2000 Index

cap

7-yr surrender

Cap: 4% · 1-yr

S&P 500 Index

cap

7-yr surrender

Cap: 3.75% · 1-yr

Bloomberg US Dynamic Balance Index II

cap

7-yr surrender

Fixed: 2.6% · 1-yr

Fixed Account

fixed

7-yr surrender

Par: 135% · 2-yr

Bloomberg US Dynamic Balance II ER Index

participation

7-yr surrender

Par: 100% + Spread: 4.25% · 1-yr

Bloomberg US Dynamic Balance Index II

Par: 90% · 1-yr

Bloomberg US Dynamic Balance II ER Index

Cap: 4.25% · 1-yr

Nasdaq-100 Index

Cap: 4.25% · 1-yr

Russell 2000 Index

Cap: 4% · 1-yr

S&P 500 Index

Cap: 3.75% · 1-yr

Bloomberg US Dynamic Balance Index II

Fixed: 2.6% · 1-yr

Fixed Account

Par: 135% · 2-yr

Bloomberg US Dynamic Balance II ER Index

Income riders

Income rider

Core Income Benefit - Level Income

RMD friendly
Lifetime withdrawal rate12.3%
Annual rider fee1.25%
Withdrawal-base growthNot shown
Deferral assumed10 years
Issue age50 — 120

GLWB

Linked review

Core Income 7 review notes

Discover the features, benefits, and drawbacks of the Allianz Core Income 7 Fixed Index Annuity. Is it worth considering for your retirement?

4.5/5Read review
Nikhil Bhauwala

Key Features

Free withdrawal

10%/yr

Annual amount that may be available without surrender charges, subject to contract terms.

Surrender waivers

1

Nursing home waiver

Death benefit

Standard Death Benefit

Beneficiary value depends on contract terms, withdrawals, and rider elections.

Strategy guarantee

Minimum guaranteed cap: 0.25%

Strategy guarantee

Guaranteed minimum interest rate (fixed): 0.10%

Strategy guarantee

Minimum guaranteed participation: 5.00%

Annuitization options

Single and joint

Contract conversion options should be confirmed before purchase.

Fund types

Non-qualified, Qualified

Availability can vary by state and product terms.

Surrender schedule

Yr 1

8.5%

Yr 2

8%

Yr 3

7%

Yr 4

6%

Yr 5

5%

Yr 6

4%

Yr 7

3%

After

0%

Nursing home waiver, Surrender waivers

Documents

product guide

CB95374-2.pdf

Confidence: highReviewed Apr 1, 2026

Direct link not published — request the document from the carrier.

Carrier Ratings

AM BestA+
S&PAa3
S&PAA

Contract notes from product data

Crediting design

How the interest-crediting choices are framed

Core Income 7 currently shows 8 distinct indexed or fixed crediting choices across 16 current rate listings, including S&P 500 Index, Nasdaq-100 Index, and Fixed Account, with 5 volatility-controlled index options grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, and renewal terms are different mechanics and should not be ranked as one simple rate list.

  • S&P 500 Index: 4% cap
  • Nasdaq-100 Index: 4.25% cap
  • Fixed Account: 2.6% fixed

Income rider language

What to look for before treating the rider as income

Core Income Benefit - Level Income is the main income-rider entry returned for this product. Rider terms can affect the tradeoff between future lifetime withdrawals, contract value, beneficiary value, and cost, so the exact state version and rider election should be confirmed before comparing it to annuitization or income-only contracts.

  • 12.3% withdrawal rate
  • 1.25% rider fee
  • 10 deferral years
  • RMD friendly

Liquidity terms

Why access rules deserve as much attention as rates

A fixed indexed annuity can preserve more control than an income-only contract, but access is still governed by the surrender schedule, free-withdrawal terms, and waiver language. Those details are where many product comparisons become more meaningful than a simple rate list.

  • 10%/yr free withdrawal
  • 7 surrender years
  • Nursing home waiver

Verification note

Use carrier materials as term evidence, then confirm the current version

Carrier materials such as CB95374-2.pdf help explain the contract language behind the data on this page; the latest document activity we see is Apr 8, 2026. For the current brochure, rate sheet, or specimen contract, confirm the state-specific version with the carrier or a licensed financial professional.

  • Rates and rider terms can vary by state and issue age
  • Carrier guarantees depend on claims-paying ability
  • Current contract forms should be confirmed before purchase

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