New Fixed-Index Product By Allianz Life
May 1, 2018 by FA Staff
Allianz Life Insurance Company of North America has introduced two new fixed-index universal life insurance policies, the Allianz Life Pro+ Elite and Allianz Asset Pro+.
Allianz Life Pro+ Elite is designed for traditional life insurance agents and financial professionals familiar with selling life insurance, and it beefs up the popular Allianz Life Pro+ product by adding proprietary index allocation options, including bonused allocation options. Allianz Asset Pro+ is a new product designed specifically for broker/dealers and financial professionals that offers death benefit protection and tax advantages.
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The products offer insurance protection and also allow clients to accumulate asset value. The company says the products came in part because of a survey it did of 800 people in January querying subjects about their life insurance needs. Allianz Life concluded that Americans needed more diversity in their financial products if they were to achieve their universal goals of retiring comfortably.
The Life Pro+ Elite policy offers policyholders a bonus index allocation option so they can accumulate an interest bonus annually or an index allocation that does not include an interest bonus. The beneficiaries on the policy will receive an income-tax-free death benefit. The product can also accrue cash value tax-deferred.
Asset Pro+ is considered a more streamlined version of the first product because it has fewer index allocation options, but Allianz Life believes it’s suitable for professionals getting their feet wet with life insurance options. Asset Pro+ provides an interest bonus opportunity and the potential to accumulate tax-deferred cash value.
