Allianz Life Unveils New Fixed Index Annuity Product

Feb 10, 2010 (Datamonitor via COMTEX) -- Allianz Life Insurance Company of North America has launched the Allianz Pro V1 Annuity, a fixed index annuity that provides protection, guarantees, and a bond index allocation strategy with the power of annual reset.

Some of the features offered by Allianz Pro V1, now for sale in 35 states of the US, include: the opportunity to earn interest by allocating to the Barclays Capital US Aggregate Bond Index or a fixed interest allocation; access to full accumulation value after just five years, or let the contract continue to accumulate; and the ability to take up to 10% of the premium in free withdrawals each year, starting immediately and the option to begin an annuity income stream after just one contract year.

Eric Thomes, senior vice president of sales for Allianz Life, said: "Consumers continue to tell us that they want more guarantees for their retirement savings as protection against the possibility of market volatility, but also quicker access to their money. Allianz Pro V1 protects contract owners' principal and credited interest, while providing access to the annuity's full accumulation value after five contract years."

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