Allianz Life Adds Convertible Term Rider, Interest Bonus to Fixed Index Universal Life Insurance Policy

New Rider and Bonus Design Provide Increased Flexibility for Consumers

MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz
Life
®) today announced new innovative enhancements to the
Allianz Life Pro+® Fixed Index Universal Life Insurance
(FIUL) Policy. In addition to helping agents provide income-tax-free
death benefit protection for beneficiaries, Allianz Life Pro+ now offers
a Convertible Term Rider that helps clients add additional coverage that
can adapt as their needs and lifestyle change, and a multiplier interest
bonus to accelerate the accumulation potential of the policy.

The Convertible Term Rider – one of nine optional riders available on
the Allianz Life Pro+ policy – allows the policyholder to add term
insurance to their permanent policy, subject to certain limits, and have
the option to convert all or a portion of the term coverage, over time,
to permanent coverage. Conversion is available in policy years 2 through
10, without additional underwriting.

The new interest bonus design uses a multiplier factor to help grow the
accumulation potential of the policy. Beginning in year 11, the bonus is
calculated based on any interest earned throughout the policy year, and
credited annually, with a cap of 1.0%. The multiplier rate is guaranteed
for the life of the policy.

“The latest enhancements to Allianz Life Pro+ provide consumers with
increased flexibility to address a variety of changing needs, from a new
addition to the family to an unexpected financial obligation,” said
Jason Wellmann, senior vice president of Life Insurance Sales for
Allianz Life. “These new innovations will help people maintain their
financial well-being in the present and protect against vulnerability in
the future.”

In addition to these product enhancements, Allianz Life has new tools
available to help financial professionals discuss the importance of life
insurance with their clients. A short video available at allianzlife.com
“Life’s
A Journey”
– explores the many benefits of fixed index universal
life insurance, including the death benefit, which is provided
income-tax-free to beneficiaries, and other needs that can be addressed
with an FIUL policy. Another new feature is an interactive life
insurance calculator
that can help clients determine how much
coverage they may need via a series of simple questions.*

Launched in 2011, some advantages of Allianz Life Pro+ include:

  • Tax advantages, including income-tax-free death benefit to
    beneficiaries, potential to build cash value on a tax-deferred basis,
    and policy loans from any available cash value that are
    income-tax-free while the policy remains in force.1
  • Chronic Illness Accelerated Benefit Rider2 – Clients can
    accelerate a portion of their death benefit if they become chronically
    ill or cognitively impaired (under specific criteria). This feature is
    included with the policy at issue, and can help clients prepare
    financially should they become chronically ill.
  • Premium Deposit Fund (PDF) Rider – Allows clients to fund the PDF
    Rider with a single lump-sum amount, and have annual planned premiums
    automatically transferred from the PDF Rider to the life insurance
    policy.3
  • Cash value accumulation potential that can earn interest based on a
    variety of index allocations that include an exclusive blended index,
    the Barclays US Dynamic Balance Index II, and the S&P 500®
    Index for newly issued policies. A fixed interest allocation is also
    available. With the built-in annual reset feature, any indexed
    interest credited is locked in and can never be lost due to market
    volatility, meaning the policy’s cash value is guaranteed to never
    decrease due to negative index changes. Certain fees and expenses will
    reduce cash value.
  • Policy loans and withdrawals1 – including a low 5%
    guaranteed indexed loan interest rate – that can help supplement
    retirement income, supplemental college funding, financial
    emergencies, or business succession planning and more. The annual 5%
    indexed loan rate is guaranteed for the life of the policy, and among
    some of the most competitive indexed loan rates available within the
    life insurance industry.

Keep in mind that most life insurance policies require health
underwriting and financial underwriting. Life insurance involves certain
fees and expenses. Individuals should discuss with their financial
professional whether a life insurance policy meets their needs.

No single index or crediting method produces the best results in all
market conditions. Although an external index may affect the interest
credited, the policy does not directly participate in any equity or
fixed income investments. Clients are not buying shares in an index.

For more information about Allianz Life Pro+, visit www.allianzlife.com.

*Information provided by the life insurance calculator is an estimate
only and not an offer of insurance coverage. Please consult with your
financial professional to determine the amount of life insurance
protection that may be appropriate for you.

1 Policy loans and withdrawals will reduce available cash
values and death benefits, and may cause the policy to lapse or affect
any guarantees against lapse. Additional premium payments may be
required to keep the policy in force. In the event of a lapse,
outstanding policy loans in excess of unrecovered cost basis will be
subject to ordinary income tax. Tax laws are subject to change. You
should consult a tax professional.

2 Subject to certain age and underwriting requirements, and
available at an additional cost at the time the rider is exercised. Not
available in all states.

3 Minimum number of planned premium transfers is three, and
the maximum number of premium transfers is 10.

Guarantees are backed by the financial strength and claims-paying
ability of the issuing company.

Contract P95472 is issued by Allianz Life Insurance Company of North
America. Product and feature availability may vary by state and
broker/dealer.

The S&P 500® Index is comprised of 500 stocks representing major U.S.
industrial sectors. The Dow Jones Industrial Average is a popular
indicator of the stock market based on the average closing prices of 30
active U.S. stocks representative of the overall economy. S&P® is a
registered trademark of Standard & Poor’s Financial Services LLC (“S&P”)
and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings
LLC (“Dow Jones”). These trademarks have been licensed for use by S&P
Dow Jones Indices LLC and its affiliates. S&P® and S&P 500® are
trademarks of S&P and Dow Jones®, Dow Jones Industrial Average℠, DJIA
and The Dow are trademarks of Dow Jones. These trademarks have been
sublicensed for certain purposes by Allianz Life Insurance Company of
North America (“Allianz”). The S&P 500 and Dow Jones Industrial Average
(DJIA) are products of S&P Dow Jones Indices LLC and/or its affiliates
and have been licensed for use by Allianz. Allianz products are not
sponsored, endorsed, sold, or promoted by S&P Dow Jones Indices LLC, Dow
Jones, S&P, or their respective affiliates and neither S&P Dow Jones
Indices LLC, Dow Jones, S&P, or their respective affiliates make any
representation regarding the advisability of investing in such product.

The Barclays US Dynamic Balance Index II is comprised of the Barclays
US Aggregate RBI® Series 1 Index and the S&P 500® Index and shifts
weighting daily, up to 3%, between them based on realized market
volatility. The Barclays US Aggregate RBI® Series 1 Index is comprised
of a portfolio of derivative instruments plus cash that are designed to
track the Barclays US Aggregate Bond Index. The Barclays US Aggregate
Bond Index is comprised of Barclays US investment-grade, fixed-rate bond
market securities, including government agency, corporate, and
mortgage-backed securities. Barclays Risk Analytics and Index Solutions
Limited and its affiliates (“Barclays”) is not the issuer or producer of
any Allianz products and Barclays has no responsibilities, obligations
or duties to investors in respect of the Barclays US Aggregate Bond
Index, the Barclays US Aggregate RBI® Series 1 Index or the Barclays US
Dynamic Balance Index II. The Barclays US Aggregate Bond Index, the
Barclays US Aggregate RBI® Series 1 and the Barclays US Dynamic Balance
Index II are trademarks owned by Barclays, and the Barclays US Aggregate
Bond Index and the Barclays US Dynamic Balance Index II are licensed for
use by Allianz Life Insurance Company of North America as the Issuer of
the Allianz product. While Allianz may for itself execute transaction(s)
with Barclays in or relating to the Barclays US Aggregate Bond Index,
the Barclays US Aggregate RBI® Series 1 Index or the Barclays US Dynamic
Balance Index II with Allianz products, investors acquire Allianz
products from Allianz Life Insurance Company of North America and
investors neither acquire any interest in the Barclays US Aggregate Bond
Index, the Barclays US Aggregate RBI® Series 1 Index or the Barclays US
Dynamic Balance Index II nor enter into any relationship of any kind
whatsoever with Barclays upon making an investment in any Allianz
product. The Allianz products are not sponsored, endorsed, sold or
promoted by Barclays and Barclays makes no representation regarding the
advisability of any Allianz product or use of the Barclays US Aggregate
Bond Index, the Barclays US Aggregate RBI® Series 1 Index or the
Barclays US Dynamic Balance Index II or any data included therein.
Barclays shall not be liable in any way to the Issuer, investors or to
other third parties in respect of the use or accuracy of the Barclays US
Aggregate Bond Index, the Barclays US Aggregate RBI® Series 1 Index or
the Barclays US Dynamic Balance Index II or any data included therein.

About Allianz Life Insurance Company of North
America

Allianz
Life Insurance Company of North America
, one of FORTUNE’s 100 Best
Companies to Work For in 2016, has been keeping its promises since 1896.
Today, it carries on that tradition, helping Americans achieve their
retirement income and protection goals with a variety of annuities and
life insurance products. In 2015, Allianz Life provided a total of $2.4
billion in benefit payments that supported policyholders’ financial
objectives. As a leading provider of fixed index annuities, Allianz Life
is part of Allianz SE, a global leader in the financial services
industry with 142,000 employees in more than 70 countries worldwide.
More than 85 million private and corporate customers rely on Allianz
knowledge, global reach, and capital strength to help them make the most
of financial opportunities.

Allianz Life Insurance Company of North America offers insurance and
annuities in all states except New York. In New York, products are
issued by Allianz Life Insurance Company of New York.

Contacts

Allianz Life Insurance Company of North America
Jeff Faust,
763-765-6614
jeff.faust@allianzlife.com
Twitter:
@AllianzLifeNews

Recibe gratis las noticias más importantes y más leídas diariamente en tu email

Este sitio está protegido por reCAPTCHA y Google Política de privacidad y Se aplican las Condiciones de servicio.

¡Muchas gracias!

Más sobre este tema
Contenido Patrocinado
Enlaces patrocinados por Outbrain