Allianz Life Pro+ Fixed Index Universal Life Insurance Policy Rolls Out Exclusive Index Allocation

Allianz Life Insurance Company of North America announced the launch of a new index allocation on the Allianz Life Pro+ Fixed Index Universal Life (FIUL) Insurance Policy.

According to a release, Allianz Life Pro+ provides death benefit protection for beneficiaries, as well as the opportunity to build cash value through changes in a market index. The addition of the Barclays US Dynamic Balance Index, which is currently available exclusively to Allianz Life until 2015, provides new opportunities for Allianz Life Pro+ policies. The index also gives customers dynamic balance for their cash value accumulation because it changes based on market volatility.

"Now, Allianz Life Pro+ not only offers death benefit protection for our clients and their families, but it also provides additional options for cash value accumulation potential with the Barclays US Dynamic Balance Index," said Allianz Life Senior Vice President of Life Insurance Sales, Jason Wellmann. "Allianz Life will continue to create innovative products that provide tax deferral, help address inflation and help build an overall retirement strategy."

The death benefit, which is provided income-tax-free to beneficiaries, can address immediate needs that may include income replacement, a college funding strategy, paying down a mortgage or other debts, estate tax coverage, final expenses, and business succession. In addition to the death benefit, Allianz Life Pro+ provides the policyholder access to the available cash value income- tax-free via policy loans and withdrawals.

The Barclays US Dynamic Balance Index provides balance by shifting weight daily between the S&P 500 Index and the Barclays Capital U.S. Aggregate Bond Index based on realized market volatility. Available on Allianz Life Pro+ policies in 46 states, clients who choose this new index allocation option will have uncapped indexed interest potential with two participation rate choices. Clients can choose to have a 140 percent participation rate with a 0 percent floor or, a 100 percent participation rate with a 2 percent floor.

In addition to the new index allocation on the Allianz Life Pro+ policy, clients have a choice of other index allocations. These are based on the performance of the S&P 500 Index or a blended index - comprised of the Dow Jones Industrial Average (35 percent), Barclays Capital U.S. Aggregate Bond Index (35 percent), EURO STOXX 50 Index (20 percent), and Russell 2000 (10 percent). Clients also have the choice of allocating part or all of their cash value in a fixed interest account as an alternative to having the potential to earn indexed interest through the index allocation options. All allocations can be changed each policy anniversary.

With a built-in annual reset feature, any indexed interest credited is locked in each year 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. Although, certain fees and expenses will reduce cash value.

Indexed interest is calculated based on the positive changes in a market index and one of the crediting methods. There are various crediting methods available based on the client's indexing goals. The Barclays US Dynamic Balance Index is only available with the annual point-to-point crediting method. Another crediting method, a trigger method launched in 2013, determines potential indexed interest by tracking changes in the index from one policy anniversary to the next. This trigger crediting method is only available on the S&P 500 index allocation. Currently, the trigger method provides the opportunity for clients to earn 8.5 percent credited interest annually on their policy when the index experiences flat or positive performance.

Any change greater than or equal to zero will result in 8.5 percent (the Trigger Interest Rate) credited interest to the policy, which is subject to change on an annual basis, and guaranteed not to go below 2.50 percent. If the result is negative (less than zero), 0 percent will be credited to the policy. In years when the index return exceeds the Trigger Interest Rate, the potential credited interest would be capped at 8.5 percent.

Additional advantages of Allianz Life Pro+ include:

-Built-in Chronic Illness Accelerated Benefit Rider - Clients can access a portion of their death benefit if they become chronically ill. This feature is built-in and added to the policy at issue, and can help clients prepare financially should they become chronically ill.

-Additional Term Rider - Offers a more cost-effective option for additional death benefit protection.

-Tax advantages, including income-tax-free death benefit to beneficiaries, potential to build cash value on a tax-deferred basis, and the opportunity to take policy loans from the available cash value that are income-tax-free while the policy remains in force.

-Optional Inflation Protection Rider that helps loan amounts address the effects of inflation, which is available at an additional cost (based on age, gender, risk class and death benefit) at the time it is exercised. There is no additional cost if the rider is not exercised.

-Flexible premium payments to help meet financial goals. Premiums can be paid at any time and in any amount (subject to some limits), as long as policy expenses and cost coverage are met.

-Policy loan options - including a 5.0 percent guaranteed participating loan interest rate - that can help supplement retirement income, supplemental college funding, financial emergencies or business succession planning. The 5.0 percent participating loan rate charged is guaranteed for the life of the policy (loan rate will not fluctuate from year-to-year), and your policy can still have the opportunity to receive indexed interest when you take a participating loan.

Allianz Life Insurance Company of North America is a provider of fixed index annuities, Allianz Life is part of Allianz SE, a company focusing in the financial services industry with 142,000 employees worldwide.

More Information:

http://www.allianzlife.com

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