The Allianz Benefit Control Annuity premium bonus is increasing to 18% on all premiums received in the first 18 contract months.
This change is effective with new business beginning February 2, 2021.
Applications received in the Allianz home office on or after Tuesday, February 2, 2021 will automatically receive the post-change version of the product. The current version of the Statement of Understanding must be received prior to issue.
Pending applications or issued contracts within their free-look period receiving the pre-change version of the product may opt in to the post-change version of the product by submitting the February 2021 Product Change Letter of Instruction and the current Statement of Understanding (SOU) to the home office no later than Wednesday, March 3, 2021.
NOTE: the most current version of the ABC SOU is 1/2021 as it is not changing with this 2/2/21 bonus increase. So only If the pending application or issued contract doesn’t already have the 1/2021 version of the SOU should they need to have the SOU it signed.
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