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Allianz Bedingungswerk E0298: the policy wording in full
PrivateMarketsPolice E298: Lebensversicherung gegen Einmalbeitrag mit unmittelbarer Beteiligung an einer Anlagestrategie aus außerbörslichen Vermögenswerten, Leistung bei Tod in Höhe des Policenwerts, ohne Überschussbeteiligung und mit Entnahmen ab 10.000 Euro.
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Everything about this policy
What the policy covers: 68 points, each with its clause
Quotes are shortened.
The full German wording of each point is on the German page for Allianz Bedingungswerk E0298.
Product and guarantees
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Traditional endowment policy with guaranteed interest (general account) | no | „in einer gesonderten Abteilung unseres Sicherungsvermögens, dem sogenannten Anlagestock.“ | 3.1 (6), page 4 |
| Unit linked life insurance (savings invested in funds, investment risk with the customer) | yes | „Sie haben Versicherungsschutz unter unmittelbarer Beteiligung an der Wertentwicklung …“ | 3, page 3 |
| Hybrid product (general account, guarantee fund and free funds combined) | not addressed | ||
| Single premium contract available | yes | „Den Beitrag für Ihre Versicherung müssen Sie in einem einmaligen Beitrag zahlen.“ | Teil B 2.1 (1), page 8 |
| Guaranteed maturity benefit (sum assured on survival fixed in advance) | no | „können wir eine positive Entwicklung des Werts der Anlagestrategie und damit eine …“ | 3.4, page 4 |
| Premium guarantee at maturity (percentage of premiums paid, quoted in text) | no | „können wir eine positive Entwicklung des Werts der Anlagestrategie und damit eine …“ | 3.4, page 4 |
| Guaranteed technical interest rate on the savings part (rate quoted in text) | not addressed | ||
| Interest guaranteed only for a period, then reset by the insurer | yes | „Den Zinssatz für sämtliche Zinsphasen legen wir quartalsweise fest.“ | 2.2 (3), page 3 |
| Surplus participation regulated (method and timing of allocation) | no | „Eine Überschussbeteiligung, das heißt eine Beteiligung am Überschuss und eine …“ | 4, page 4 |
| Share of valuation reserves on maturity, death or surrender | no | „Eine Überschussbeteiligung, das heißt eine Beteiligung am Überschuss und eine …“ | 4, page 4 |
| Terminal bonus (also pro rata on early termination) | no | „Eine Überschussbeteiligung, das heißt eine Beteiligung am Überschuss und eine …“ | 4, page 4 |
| Fund switches possible (number of free switches quoted) | no | „Ihrer Versicherung liegt eine bestimmte Anlagestrategie zugrunde, die Sie bei …“ | 3.1 (1), page 3 |
| Insurer may replace or close funds without consent | yes | „Die Auswahl und Gewichtung der in der Anlagestrategie ... Vermögenswerte sowie die …“ | 3.1 (1), page 3 |
| Expiry management (switch to low risk assets before maturity) | not addressed |
Term and payout
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Fixed term with maturity date (minimum and maximum term quoted) | not addressed | ||
| Whole of life term (benefit on death, withdrawals at any time) | yes | „Wenn die versicherte Person stirbt, zahlen wir die für diesen Fall vertraglich …“ | 1.1 (1), page 2 |
| Flexible maturity (call period, earlier or deferred payout) | not addressed | ||
| Term extension without new health check | not addressed | ||
| Annuity option (maturity benefit as lifelong pension instead of lump sum) | not addressed | ||
| Payout in fund units instead of cash possible | not addressed | ||
| Maturity benefit paid in instalments | not addressed |
Death benefit and beneficiaries
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Death benefit during the term (sum assured or fund value) | yes | „Wenn die versicherte Person stirbt, zahlen wir die für diesen Fall vertraglich …“ | 1.1 (1), page 2 |
| Amount of the death benefit (sum, return of premiums, fund value or minimum, quoted) | yes | „Maßgebend für diese Leistung ist der Policenwert (siehe Absätze 2 und 3).“ | 1.1 (1), page 2 |
| Minimum death cover above fund value (for example 101 or 110 percent) | not addressed | ||
| Additional benefit on accidental death (rider) | not addressed | ||
| Advance death benefit on terminal illness | not addressed | ||
| Joint life cover (two insured persons) | not addressed | ||
| Beneficiary freely designated and changeable (revocable or irrevocable) | yes | „Bis zur jeweiligen Fälligkeit können Sie das Bezugsrecht jederzeit ändern oder …“ | 5.1 (1), page 4 |
| Death benefit limited in case of suicide (period quoted) | yes | „Bei vorsätzlicher Selbsttötung leisten wir uneingeschränkt, wenn seit Abschluss Ihres …“ | 6.2 (1), page 5 |
| Waiting period or scale for the full death benefit (period quoted) | not addressed |
Premiums and flexibility
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Premium holiday or deferral without losing the contract | not addressed | ||
| Maximum duration of the premium holiday (months quoted) | not addressed | ||
| Premium reduction during the term | not addressed | ||
| Paid up option (contract continues with reduced benefit) | not addressed | ||
| Top up payments possible (minimum or maximum in text) | not addressed | ||
| Partial withdrawals or partial surrender during the term | yes, up to EUR 10,000 | „Der Entnahmebetrag muss mindestens 10.000 EUR betragen.“ | 10 (1), page 7 |
| Indexation: regular increase of premium and benefit without health check | not addressed | ||
| Indexation right lapses after repeated refusals | not addressed | ||
| Guaranteed insurability (increase death cover without health check on life events) | not addressed | ||
| Premium waiver on disability as rider | not addressed | ||
| Child policy: insurer pays premiums on death of the payer | not addressed | ||
| Policy loan or advance on the benefit | not addressed | ||
| Change of policyholder possible (for example parent to child) | not addressed |
Cancellation, surrender and costs
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Right of withdrawal after conclusion (period quoted) | not addressed | ||
| Termination by the policyholder at any time to the end of the period | yes | „Sie können Ihre Versicherung stets zum Ende der laufenden ... in Textform (zum Beispiel …“ | 9.1, page 6 |
| Surrender value on termination (calculation described) | yes | „Wir zahlen im Falle einer Kündigung soweit vorhanden den Rückkaufswert. Dieser …“ | 9.2 (1), page 6 |
| Guaranteed surrender values as table or reference to the policy schedule | not addressed | ||
| Surrender charge on termination or paid up | yes | „Von dem nach Absatz 1 ermittelten Rückkaufswert nehmen wir einen Abzug vor.“ | 9.2 (2), page 6 |
| Surrender only after a minimum period (period quoted) | not addressed | ||
| Acquisition costs spread over at least five years (zillmerisation regulated) | no | „Diese Abschluss- und Vertriebskosten (Kosten) entnehmen wir dem einmaligen Beitrag sofort.“ | 8.1 (1) a), page 6 |
| Costs stated in the terms or referred to other documents (quoted) | yes | „Informationen zur Höhe der Kosten können Sie Ihrem Dokument …“ | 8.1 (3), page 6 |
| Assignment and pledge of claims possible (for example as loan security) | yes | „Sie können Ihre Ansprüche aus Ihrem Vertrag auch abtreten oder verpfänden, wenn …“ | 5.1 (3), page 4 |
| Reinstatement after paid up or premium holiday | not addressed | ||
| Insurer waives ordinary termination | not addressed |
Tax and market framework
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Half income taxation mentioned (payout after twelve years and from age 62, Germany) | not addressed | ||
| Minimum term for tax exemption mentioned (Austria 15 years, single premium 10 or 15 years) | not addressed | ||
| Insurance tax and additional tax on early surrender regulated (Austria) | not addressed | ||
| SIALP (long term individual savings insurance) tax free after five years (Spain) | not addressed | ||
| PIAS (systematic individual savings plan) converted into a life annuity (Spain) | not addressed | ||
| Unit linked with investment choice within the tax rules (Spain, article 14.2 h LIRPF) | not addressed |
Duties and exclusions
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Health questions or pre contractual disclosure duty for the death benefit | yes | „Sie sind bis zur Abgabe Ihrer Vertragserklärung verpflichtet ... bekannten …“ | Teil B 1 (1), page 8 |
| Period after which the insurer can no longer invoke a breach of disclosure (years quoted) | yes | „Unsere Rechte zum Rücktritt, zur Kündigung und zur Vertragsänderung erlöschen, wenn …“ | Teil B 1 (2) c), page 8 |
| Death benefit limited in case of war or civil unrest | yes | „Der Tod steht in unmittelbarem oder mittelbarem Zusammenhang mit kriegerischen …“ | 6.1 (2) a), page 5 |
| Limitation for nuclear, biological or chemical weapons | yes | „vorsätzlich eingesetzten atomaren, biologischen oder ... Waffen (ABC-Waffen)“ | 6.1 (2) b), page 5 |
| Limitation for dangerous sports, aviation or motor racing | none | „Wir leisten grundsätzlich unabhängig davon, auf welcher Ursache der Versicherungsfall …“ | 6.1 (1), page 5 |
| Documents required for a claim listed (death certificate, medical report, policy) | yes | „Folgende Unterlagen sind uns immer einzureichen: der Versicherungsschein“ | 7.1, page 5 |
| Annual statement on contract value, fund value and surplus | yes | „Den aktuellen Link finden Sie auch in Ihrer Standmitteilung.“ | 2.2 (3), page 3 |
| Sustainable investment options or funds under the disclosure regulation named | not addressed |
Evaluated by NAMMERT from published policy wordings.
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Policy wordings and provider
- Legal entity
- Allianz Lebensversicherungs-Aktiengesellschaft
- Distribution
- through tied agents
- Allianz Lebensversicherungs-AG, Bedingungen E0298 Edition: E---A0298Z0 (003) 12/2025 Original from the insurer (PDF, German)
Full text of the wording
The full text exists only in German.
It is printed on the German page for Allianz Bedingungswerk E0298 and available as plain text.
Volltext Allianz Bedingungswerk E0298 Kapitalleben · As text (Markdown) Allianz Bedingungswerk E0298 Savings life