Allianz Life Offers Index Advantage Income VA

MINNEAPOLIS – August 20, 2018 – Allianz Life Insurance Company of North America (Allianz Life®) today announced the launch of its Allianz Index Advantage Income℠ Variable Annuity. The new index variable annuity offers clients the potential to increase their lifetime income and helps address some of the challenges they may face in retirement. The solution is designed for clients looking for growth potential with the opportunity for a level of protection, or who feel behind on their retirement savings and want help catching up.

The Index Advantage Income product includes three key features to help meet retirement goals, including income withdrawal percentages that offer the potential to increase each year retirement income is deferred, the ability to customize growth potential and protection opportunities through a variety of crediting methods (also called index strategies), and an option for guaranteed income for life that can increase each year.

“Clients who are closer to retirement and feel they should catch up on saving need additional opportunities for growth, but with a level of protection available,” said Tom Burns, chief distribution officer, Allianz Life. “The Index Advantage Income Variable Annuity offers a unique combination of protection potential and guaranteed income that could increase.”

One of the highlights of the Index Advantage Income Variable Annuity is increasing income potential. Beginning at age 45, the lifetime income percentage is guaranteed to increase each year someone defers income payments – even if their retirement assets fluctuate.

“While they wait for retirement, clients have the opportunity to build their assets through a variety of our innovative index strategies,” said Burns. “If their objectives change or markets fluctuate, they also have the ability to reallocate between five index strategies each year before they begin to receive income payments.”

After waiting a year, clients who are at least age 50 and ready to retire can choose either level or increasing income payment options, depending on their specific income needs.

The new Index Advantage Income Variable Annuity also offers tax deferral with the opportunity to grow savings faster, free withdrawal privileges, a variety of lifetime payout options and death benefit options.