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Monday, April 15, 2024

Allianz Life introduces new mounted index annuity product 

Allianz Life Insurance coverage Firm of North America (Allianz Life) has unveiled its newest product, Allianz Accumulation Benefit+. 

The brand new providing is a hard and fast index annuity (FIA) designed to bolster retirement financial savings by combining the potential for accumulation with a premium bonus and versatile choices.  

It’s a answer for these searching for to develop their retirement funds whereas managing funding dangers. 

A current examine by Allianz Life highlighted that two-thirds of People really feel the necessity to save extra for retirement however are hesitant to take a position additional attributable to market volatility.  

Regardless of the will to extend retirement funds, 61% of People desire to maintain their cash in money fairly than face market fluctuations. 

Allianz Accumulation Benefit+ consists of options such because the index lock, permitting shoppers to safe an index worth as soon as per crediting interval.  

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It additionally affords multi-year, point-to-point crediting with participation charges meant to be initially larger than these for one-year allocations, having the potential to extend yearly.  

After ten years, contract house owners can entry the complete accumulation worth of their Allianz Accumulation Benefit+ contracts. 

The product’s design gives for 10% free withdrawals yearly, out there after any contract 12 months wherein a premium cost is made.  

Moreover, any unused free withdrawal share will be carried over to the subsequent contract 12 months, with a cap of 20%.  

In associated information, Allianz Life lately expanded its FIA product portfolio with the Allianz Accumulation Benefit 7 Annuity, that includes a shorter seven-year withdrawal cost interval. 

Allianz Life head of discipline marking organisations distribution Heidi Vanderkloot mentioned: “We’re increasing our choices to assist extra individuals accumulate cash for retirement. Many individuals are searching for methods to develop their retirement property whereas mitigating potential dangers. Our new FIAs supply safety of principal and development potential to assist individuals transfer towards their ideally suited retirement.” 

Earlier this month, Allianz closed its acquisition of Tua Assicurazioni from Assicurazioni Generali in a €280m ($303.51m) deal. 

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