New Term Pro+ Life Insurance from Legal & General America Available Through Allianz Life

MINNEAPOLIS, Jan. 30 -- Allianz Life, a provider of retirement solutions, including fixed and variable annuities and life insurance for individuals, issued the following news release:

Allianz Life Insurance Company of North America (Allianz Life) has launched Term Pro+, a term life insurance solution from Legal & General America (LGA). Term Pro+ offers affordable guaranteed life insurance protection for a specific period of time; level, affordable premium payments; and the option to exchange to an Allianz permanent life insurance product.

Term Pro+ will be underwritten and issued by Banner Life Insurance Company, a subsidiary of LGA, which has been issuing life insurance policies for more than 65 years. This product offers guaranteed life protection for durations of 10, 15, 20, 25, and 30 years with annually renewable premium to age 95, and is currently available in 48 states and the District of Columbia. In policy years 2-5, policyholders may be eligible to exchange their Term Pro+ policy for any permanent Allianz life insurance product currently available within the Allianz Exchange Program1.

"Term life insurance can play a critical role ensuring financial security," said Allianz Life Senior Vice President of Life Sales Jason Wellmann. "Offering Term Pro+ as a life insurance solution gives consumers the ability to have protection and flexibility to help meet financial needs both now and in the future."

Additional features of the Term Pro+ include:

* Face amounts ranging from $100,000 to up to $10,000,000

* Death benefit to be paid as the policyholder chooses either lump sum, interest only, fixed amount, fixed period or lifetime income payments

* Accelerated death benefit rider is automatically included with the base product

Exchanging to any permanent Allianz life insurance policy currently available gives policyholders additional benefits including: lifetime death benefit protection, tax-deferred cash value accumulation potential, flexible premium payments and death benefit amounts, and access to any available cash value accumulation income-tax-free through policy loans or withdrawals.

1 The Allianz Exchange program is available to Term Pro+ policies per the following conditions:

* All Term Pro+ policies must be in force as of the effective date of the exchange.

* The policy must be issued as Tobacco or Non-tobacco Table 4 rating or better.

* The exchange must occur within 60 months of the original Term Pro+ policy date, but not before 12 months of issue.

* The Allianz permanent life insurance policy must be issued with a specified minimum face amount of $100,000 to a maximum face amount of $10,000,000.

* Exchanges over $5,000,000 are subject to financial underwriting approval.

* Policy loans and withdrawals will reduce the available cash value and death benefit and may cause the policy to lapse, or affect guarantees against lapse. Withdrawals in excess of premiums paid will be subject to ordinary income tax. 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. If a policy is a Modified Endowment Contract (MEC), policy loans and withdrawals will be taxable as ordinary income to the extent there are earnings in the policy. If any of these features are exercised prior to age 59dz on a MEC, a 10% federal additional tax may be imposed. Tax laws are subject to change and you should consult a tax professional.

Term Pro+ is underwritten and issued by Banner Life Insurance Company, a subsidiary of Legal & General America, located in Urbana, MD. Banner products are distributed in 49 states and the District of Columbia. Banner does not solicit business in New York. Term Pro+ policy form #ICC16-NCT-L and state variations. Premiums are guaranteed to stay level for the initial term period and increase annually thereafter. Premiums quoted include $60 annual policy fee. An Accelerated Death Benefit Rider, policy form #ICC10 ADB and state variations, is included with all policies at no additional charge in states where approved. Two-year contestability and suicide provisions apply. Policy descriptions provided here are not a statement of contract. Please refer to the policy forms for full disclosure of all benefits and limitations. 17-018

Term Pro+ is not available in New York or Oregon.

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.

Premiums are guaranteed to stay level for the initial term period and increase annually thereafter.

Product and feature availability may vary by state and broker/dealer.

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