What’s Covered In This Review
In this review, we’ll cover the following information on the Allianz Master Dex 10 Annuity:
- Product Type
- Current Rates
- Realistic long-term return expectations
- How it is used
- How it is most poorly used
Annuities can be complex. That’s where having an Annuity Investigator who loves math comes in.
We make the complex, simple.
If you are thinking about the purchase of a financial vehicle that can provide you with index-linked growth and protection of principal, along with a lifetime income in retirement, then a fixed indexed annuity (FIA) could be a viable option for you.
But, before you rush into purchasing any annuity, it is highly recommended that you have a good understanding of how the product works – and how it may or may not fit into your overall financial picture.
Over the past ten years or so, annuities have become much more popular, as they can provide a guaranteed income stream in retirement. Because of this increased popularity, the number of insurance and financial professionals who are offering them has also increased exponentially. However, this may not necessarily be a good thing.
Why? One reason is that, even though most financial advisors work hard to do what is right for their customers, they may not always be able to provide you with the in-depth information that is needed for making a well-informed annuity purchase. But knowing both the benefits and the drawbacks can be key in determining whether or not an annuity is right for you.
Also, due in large part to the growing popularity of annuity products, the list of different benefits that can be offered to them has expanded, which can actually make these offerings much more difficult to understand – even for well-educated consumers. With that in mind, it is important that you take the additional steps that are necessary in order to fully understand what it is that you’re buying. This is especially true because the purchase of an annuity could comprise a large chunk of your retirement savings.
Annuity and Retirement Income Planning Information That You Can Trust
If this is your very first visit here to our website, we would personally like to welcome you to AnnuityGator.com. We are a team of experienced financial professionals who are dedicated to offering in-depth, and unbiased, annuity reviews. We’ve been doing this for many years – much longer than our competitors – so we have become a trusted source of annuity information.
If you have been shopping for an annuity and you have been seeking more details about them online, then it is likely that you have run across some conflicting details about these financial vehicles. This, however, isn’t all that surprising because there are many annuities out there, as well as a long list of opinions about them.
It is possible that you may also have attended a seminar where you were offered a free lunch or dinner by the presenter in return for him or her discussing a particular annuity. In fact, because of attending that event, you may even have inadvertently landed here on our website in search of more in-depth details.
While there are many good websites online that are devoted to marketing their annuity offerings, some of these sites can have a way of luring visitors in so that you will provide them with your contact information. In fact, some of these annuity-related sites may even tout some pretty steep claims about their annuities like:
- Lowest fees
- Highest income payouts
- Top Rated Companies
- Quick Quotes
- Guaranteed Lifetime Income
Even though these claims may initially sound just great before you dive in and purchase an annuity, it is critical that you determine whether or not these claims are really true – just as you would do before purchasing any other high-ticket product or service. In doing so, though, you may find yourself swimming in a vast array of annuity “fine print” – which in turn, might make your quest for information even more cumbersome.
But, if you want to know more about the Allianz Master Dex 10 annuity, you are definitely in the right place. In fact, we dare say that the website you are on right now is the only place where you can find all of the key information on this annuity – which includes the benefits and the potential drawbacks. By including all of the information, though, you will be much better able to make a determination as to whether or not this product is right for you.
It is important to note that the Allianz MasterDex 10 annuity is no longer available for sale to new purchasers. But it is possible that you may have purchased this annuity in the past, and you want to know whether or not it is still fitting in with your current – and possible future – financial objectives.
For example, oftentimes, when insurance or financial reps are discussing fixed indexed annuities with their clients, they will paint a pretty picture of how the annuity offers them the opportunity to obtain index-linked growth and safety of principal. But, they may also – either intentionally or unintentionally – leave out certain details that may not make the annuity look so good.
If you or someone you know purchased the Allianz Master Dex 10 fixed indexed annuity – or any other annuity product, for that matter – you need to know exactly how it is performing, as well as the reason (or reasons) why you chose it in the first place. Particularly when there is a myriad of other annuities available in the market today.
Just to be completely clear, here, there can be a number great benefits to owning a fixed indexed annuity – as long as that annuity fits into your overall financial plan, and that it provides you with the opportunity to reach your ultimate retirement income goals. With that in mind, it is not only a smart move to know exactly what you are buying.
This annuity review is here to help you with better understanding all of the small print so that you can be assured that the Master Dex 10 annuity from Allianz is still the right annuity for you.
So, if you are ready to dive in, then let’s go ahead and get started!
Allianz Master Dex 10 Annuity
|Product Name||Allianz Master Dex 10 Annuity|
|Type of Product||Fixed Indexed Annuity|
|Standard & Poor's Rating||AA (Very Strong)|
|Phone Number||(800) 950-5872|
Opening Thoughts About the Allianz Master Dex 10 Fixed Indexed Annuity
For nearly 125 years, Allianz has been helping Americans prepare for their financial future. The company is a leading provider of retirement solutions – including annuities – which can provide an income stream for life.
The company is a subsidiary of Allianz SE, a global financial services group that is based in Munich, Germany. The consistently high ratings earned by Allianz reflects the company’s financial stability and strong balance sheet. These include a(n):
- A+ (Superior) from A.M. Best
- A1 from Moody’s Investor Services
- AA (Very strong) from Standard & Poor’s
In fact, you can check out the company’s historical ratings that go all the way back to 2002 HERE.
But, while this “best of both worlds” scenario can initially seem appealing, these benefits can also come at a cost. So, before you move forward with the purchase of an annuity, be sure that you check out all of the details as, once you have purchased an annuity, it could be quite an ordeal to get yourself out of it.
Before getting into the nitty-gritty details, here are some necessary legal disclosures…..
This is an independent annuity product review. It is not a recommendation to purchase or to sell an annuity. Allianz Life Insurance Company has not endorsed this review in any way, nor do we receive any type of compensation for providing this review. This annuity review is meant solely to be an independent review at the request of our readers so that they may see our perspective when breaking down the positives and the negatives of this particular annuity. Prior to committing to the purchase of any type of insurance and/or investment vehicle, it is critical that you do your own due diligence, and that you also talk with a properly licensed professional if you have any questions that relate to your specific situation. All of the names, materials, and marks that have been used in compiling this annuity review are the property of their respective owners.
For additional information on how to compare fixed annuities so that you can decide which may be the best one for you, click here in order to obtain our free annuity report.
How Allianz Life Insurance Company Describes the Master Dex 10 Annuity
In the Master Dex 10 annuity brochure, this product is described as a powerful tool to help you with reaching your financial goals. It can do so through the following benefits:
- A 10 percent bonus on the premium that is received for five years
- Safety of your principal – regardless of what occurs in the market
- Gains that are locked in each year – which in turn, can eliminate market index risk due to losses in the underlying index
This annuity can also allow you to continue receiving index growth while you are taking your income payments.
Want to see for yourself? You can check out the full product brochure for the Allianz Master Dex annuity HERE.
How a Financial Advisor Might “Pitch” this Annuity
The Allianz Master Dex 10 is a fixed indexed annuity product that can help you with building up your retirement savings through the potential market-linked return, as well as protection of principal. As with other types of annuities, this product can also provide you with the tax-deferred growth of the funds in your account, as well as an ongoing lifetime income in retirement – so you can be assured that you’ll have income cash flow for the remainder of your life.
This product is a flexible premium, point-to-point equity index annuity that offers a 10% premium bonus, retirement income features, and a choice of fixed interest and/or index earnings tied to changes in the S&P 500 and Nasdaq 100 indices.
In fact, just by looking at the points above about the features of this annuity, you may have started to think that it is the ideal product for you. However, the truth is that if it was a commissioned sales person who talked to you about this product, then they are oftentimes much more apt to focus on the positives, but leaving out the annuity’s possible drawbacks. These, however, should also be considered if you are deciding whether or not to keep a product that required you to deposit a large percentage of your retirement savings.
Therefore, if you have made a long-term commitment to the Allianz Master Dex 10 annuity, we will touch here on some of this annuity’s “fine print,” so that you know what to expect going forward. In this case, right off the bat, the sales brochure for this product can be quite telling. For example, with regard to the 10 percent premium bonus that can be obtained in the first five years, the “fine print” will provide a list of “what ifs”, such as, “if the policy is annuitized prior to the sixth year, if annuity payments are taken for less than 10 years, or if the policy is surrendered for cash at any time, then the bonus will be forfeited, the index adjustments will be lost, a 12.5% charge will be applied and a rate of interest of 1.5% will be credited from the inception of the policy”. This alone paints a vastly different picture from the rosy bullet points above.
Also, as with other fixed indexed annuities, even though you have the opportunity to earn a nice, index-linked return, this return will actually be capped at a certain amount. This means that if the underlying index has a stellar performance in a given year, you will only be able to receive a portion of it – up to the annuity’s stated cap rate.
With that information in mind, if you are not completely certain about whether or not you should hang on to this annuity – and you would also like to ask questions and / or compare the Master Dex 10 with other annuities – please feel free to reach out to us right here via our secure contact form.
We know that annuities can be somewhat confusing – and particularly those that have a number of added “bells and whistles” like the Master Dex 10 Annuity. This can be the case, even for well-educated consumers – and even for some seasoned financial advisors. However, when you are attempting to decide what you want to do with a substantial sum of your long-term retirement savings, then it is essential that you know just exactly what it is that you’re getting into.
If you would like to have any additional information, along with more assurance that you purchased the right annuity, then click here so that you have instant access to our free report on what you need to know prior to purchasing an annuity.
Knowing how your insurance or financial advisor was paid on the sale of this annuity can also help you determine just exactly how much he or she put in their pocket afterward.
In the case of the Allianz Masterdex 10 annuity commission schedule, the numbers can be all over the board. But advisor commissions here can range in Year 1 anywhere between 4.5% and 9% for purchasers who are age 75 and under, and from 2.5% to 7% if you’re between the ages of 76 and 85 when you initially purchase this annuity.
Then there are the “trailing” commissions in year 2 and beyond. These will typically hover around the 1% mark. Although depending on which product option you choose, at your age at the time of purchase, there could be trailing commissions of between 0.50% and 3.50%.
What About the Fees Associated with the Allianz Master Dex 10 Annuity?
In addition to having a good understanding of how your money may perform in an annuity, it is essential that you also know where your money may be “leaking out” in terms of various charges and fees.
In fact, in many cases, the fees that are assessed to you in an annuity can really add up. This is because fees on a fixed indexed annuity product may be charged to you both during the annuity’s accumulation phase, as well as after you have converted your annuity into an income stream. Because of this, annuity fees can essentially play a big part in how much money you are able to build up, and the amount of income that you will ultimately receive in retirement.
While this particular annuity does not charge an upfront sales commission, you could be losing money in other ways. For example, if you wish to withdraw some or all of your funds from the annuity during the first several years that you have it, you are also going to be charged a surrender fee. The surrender charges on the Allianz Master Dex 10 Annuity run for five full contract years.
The Annuity Gator’s End Take on the Allianz Master Dex 10 Fixed Indexed Annuity
Where it works best:
This annuity may work the best if you are looking for:
- Safety of your principal – regardless of what occurs in the market
- The opportunity for index-linked growth
- Guaranteed lifetime income in retirement
Where it works the worst:
The Allianz Life Master Dex 10 Fixed Indexed Annuity may not be an ideal fit for you if you:
- Want penalty-free access to most or all of your money within the first five years of purchasing the annuity
- Do not intend to use the lifetime income feature of the annuity
In order to truly get an idea of whether or not a fixed indexed annuity such as the Allianz Master Dex 10 is right for you, click here so that you can access our free annuity buyer’s report.
There are a number of important factors that you need to consider before you commit to keeping an annuity – particularly if it doesn’t seem to be performing the way you were promised that it would.. First off, in any case, purchasing an annuity should always be considered a long-term endeavor. So, given the large commitment of both time and money, you need to feel confident about how the product will truly help you in meeting your specific financial goals.
When you are thinking about whether or not to keep a fixed indexed annuity, you can be assured that your principal will be safe from a volatile stock market. You can also set up the annuity to provide you with a lifetime stream of income in retirement. Because of that, you can also be secure in that you will have some income coming in for the remainder of your retirement years.
When it comes to the Allianz Life Insurance Company’s Master Dex 10 fixed indexed annuity, then, there can be some nice benefits. However, this annuity could still fall short, and quite frankly, there could be some better annuity alternatives available for you – especially if you are looking for the opportunity to obtain growth, along with a stream of lifetime retirement income.
If you still have any questions that have not yet been answered in this review about the Allianz Life Master Dex 10 Annuity, and/or if you would like to get some additional assistance with how to best determine whether or not an annuity is right for you, then feel free to reach out to us directly through our secure contact form here.
Have Any Additional Questions on the Allianz Life Master Dex 10 Annuity? Did You Happen to Notice Any Mistakes in this Review?
We know that the review of the Allianz Master Dex 10 fixed indexed annuity was somewhat long – so we appreciate you sticking with us through it all. In providing these annuity reviews, though, our thoughts are that it is much better to provide a lot of key information rather than just a little. With that in mind, if you found this annuity review to be helpful, please feel free to share it with anybody else you feel may also get value from it.
In addition, we also realize that the information about annuities can – and often does – change. Therefore, if you happened to notice if there were any details within this review that should be revised, please let us know that too, and we will be glad to make the necessary updates to it.
Likewise, if this review caused you to have more confusion about how annuities work – particularly fixed indexed annuities – then please click here and let us know if you have any additional questions regarding the Allianz Life Master Dex 10 product.
Are there any other annuities that you would like to see reviewed?
No problem! If there are, our team of highly knowledgeable annuity geeks will get to it and provide more reviews right here on our website. In order to let us know about any annuity – or annuities – that you would like more details about, please click here and we’ll get right to it.
The Annuity Gator
Accumulative value vs cash value.
When I reach retire age. how do I get the full accumulative value???
Hi Heidi – Thank you for your comment. With an annuity, the accumulated value is the amount that is in the contract. Whereas the cash value is the amount that you would receive back, minus fees, if you terminated the contract voluntarily (i.e., surrendered the annuity before you converted it over into an income stream). In other words, if you were still in the annuity’s surrender period, then you would incur a surrender penalty, and ultimately receive back less than the total amount that was in the account. Please let us know if we can help further by reaching out to us via our secure online contact form at http://www.annuitygator.com/contact/. Best! The Annuity Gator
In 2006, my Mom bought Allianz Master Dex 10 Annuity (A Flexible Premium Deferred Annuity Policy with an Index Benefit) 100% S&P500. Over a couple of years she put a total of $50,000 in this account. She never took out any payments. She passed away end of 2018.
Even though she didn’t have many assets, she had a Trust and put everything in the Trust. Now that she is gone we (3 heirs) are faced with deciding if the Trust should take one lump sum of in Allianz of around $57,000 or take it in payments of $84,000 over five years. Allianz won’t give us an exact amount or tell us if there are any yearly or surrender fees UNTIL we tell them how we want to claim the money. We need to find out if there are yearly fees. Also if the stock market crashes, is any of the money at risk?
Thank you for any answers or pointing us in the right direction to get answers.
Hi DS – Thank you for your message. As an index annuity, the money that is in the Master Dex 10 would not be at risk of a stock market crash. In any case, though, it is a big decision regarding whether to keep the money in the account, or to take the lump sum now. We would be happy to walk through the different scenarios with you in more detail. In order to do so, we would need some additional information from you. Rather than sending sensitive information back and forth via email, however, this would best be done via phone. Please feel free to reach out to us, at your convenience, at (888) 440-2468. We look forward to hearing from you. Best! Annuity Gator
In 2006, I was talked into rolling over my Guidestone funds to the MasterDex 10. I was under the impression that after 10 years I could transfer these funds without penalty. I found out this is not the case as I wanted to roll these funds back over to Guidestone as the MasterDex 10 has not performed near as well as the funds I now have in my Guidestone account. The only options I told I have are to cash it out, which is much less than the annuitized value and comes with penalties, or wait until I turn 59.5 years old and take out 10% at a time, which I would then put in my Guidestone account. Are you aware of any options? Thank you for your help.
Hi Dwayne– Thank you for your message.
We would be happy to support you with this. Rather than sending information back and forth via email, We would love to speak with you and answer any questions you might have. Please feel free to contact us directly, toll-free, at (888) 440-2468 to chat with one of our annuity specialists or visit https://annuitygator.com/contact/
We look forward to hearing from you.