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Fixed Indexed Annuity

Essential 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.

S&P 500 cap rate (PIV chassis)

4% cap on S&P 500

A seven-year fixed indexed annuity from an A-rated carrier with a narrow three-strategy menu, broad 50-jurisdiction availability (every US state except New York, plus DC), and lifetime income built into the contract structure 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 committing to a seven-year deferral who want lifetime income delivered through the contract's Protected Income Value framework rather than a separately-elected GLWB rider, and who are comfortable with a narrow crediting menu from a large, multi-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

Fixed Account

Fixed Account

2.6% declared rate

+ 1 volatility-controlled index option (Bloomberg US)

Lifetime Income Riders

Income rider

Essential Income Benefit - Income

RMD friendly
Lifetime payout rate12.3% lifetime payout
Annual rider fee1.05% annual rider fee

Product analyst notes

How to think about this contract

Why it can stand out

  • Carrier financial strength is rated by three agencies — A.M. Best, Moody's, and Standard & Poor's — so the strength view is not a single-source read.
  • The S&P 500 annual point-to-point strategy carries a one hundred percent participation rate, so the cap is the full ceiling on index credit with no participation haircut beneath it.
  • Free-withdrawal allowance, MVA flag, and the full year-by-year surrender ladder are visible on this page rather than gated behind a sales brochure.
  • Filed in 50 jurisdictions (every US state except New York, plus DC), so availability is broad — confirm the buyer's state before quoting.
  • A carrier product guide is published as a structured document and appears in the documents section below.

What to confirm

  • This contract is NOT a GLWB-rider product. The income story is the carrier's Protected Income Value (PIV) framework — a separate income-tracking value built into the contract structure — so 'no rider on this page' is the design, not a data gap. The lifetime-income guarantee is delivered through the PIV mechanic, not through an optional GLWB rider with a published withdrawal-rate column; do not compare its lifetime payout side-by-side with a rider-led product without accounting for the mechanic difference.
  • 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 crediting menu is narrow — one fixed account, one S&P 500 cap strategy, and one proprietary volatility-controlled index strategy. Buyers wanting a wider mix of index options or participation-rate alternatives should compare against the carrier's longer-menu contracts.
  • The surrender ladder runs the full seven years and begins at a high first-year charge, with a market value adjustment on top — early exits are expensive. The free-withdrawal allowance and the nursing-home waiver are the only structured liquidity inside the surrender period.
  • The death benefit is the standard cash-surrender-value design with no rollup and no step-up, so this contract is not a wealth-transfer vehicle.

Not ideal for

Buyers who need a contractually published GLWB withdrawal-rate rider (this contract delivers income through PIV, not a rider), a wider menu of index strategies, short-surrender liquidity, or a wealth-transfer death benefit with a rollup or step-up — those are not what this contract is built to deliver.

All crediting strategies

View rate listings (6 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.

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

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

Income riders

Income rider

Essential Income Benefit - Level Income

RMD friendly
Lifetime withdrawal rate12.3%
Annual rider fee1.05%
Withdrawal-base growthNot shown
Deferral assumed10 years
Issue age50 — 100

GLWB

Linked review

Essential Income 7 review notes

Is Allianz Essential Income 7 Right for You? Learn about fees, features, pros & cons before you invest.

4/5Read 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: 3.00%

Strategy guarantee

Guaranteed minimum interest rate (fixed): 1.00%

Strategy guarantee

Minimum guaranteed participation: 100.00%

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

CB61892.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

Essential Income 7 currently shows 3 distinct indexed or fixed crediting choices across 6 current rate listings, including S&P 500 Index and Fixed Account, with 1 volatility-controlled index option 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
  • Fixed Account: 2.6% fixed

Income rider language

What to look for before treating the rider as income

Essential 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
  • 1.05% 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 CB61892.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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