Allianz Life Insurance coverage Firm of North America (Allianz Life) has unveiled its newest product, Allianz Accumulation Benefit+.
The brand new providing is a hard and fast index annuity (FIA) designed to bolster retirement financial savings by combining the potential for accumulation with a premium bonus and versatile choices.
It’s a resolution for these looking for to develop their retirement funds whereas managing funding dangers.
A current research by Allianz Life highlighted that two-thirds of Individuals really feel the necessity to save extra for retirement however are hesitant to take a position additional as a consequence of market volatility.
Regardless of the need to extend retirement funds, 61% of Individuals favor to maintain their cash in money quite than face market fluctuations.
Allianz Accumulation Benefit+ contains options such because the index lock, permitting shoppers to safe an index worth as soon as per crediting interval.
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It additionally provides multi-year, point-to-point crediting with participation charges meant to be initially larger than these for one-year allocations, having the potential to extend yearly.
After ten years, contract homeowners can entry the total accumulation worth of their Allianz Accumulation Benefit+ contracts.
The product’s design gives for 10% free withdrawals yearly, out there after any contract yr wherein a premium fee is made.
Moreover, any unused free withdrawal share will be carried over to the following contract yr, with a cap of 20%.
In associated information, Allianz Life lately expanded its FIA product portfolio with the Allianz Accumulation Benefit 7 Annuity, that includes a shorter seven-year withdrawal cost interval.
Allianz Life head of area marking organisations distribution Heidi Vanderkloot mentioned: “We’re increasing our choices to assist extra individuals accumulate cash for retirement. Many individuals are on the lookout for methods to develop their retirement property whereas mitigating potential dangers. Our new FIAs supply safety of principal and progress potential to assist individuals transfer towards their supreme retirement.”
Earlier this month, Allianz closed its acquisition of Tua Assicurazioni from Assicurazioni Generali in a €280m ($303.51m) deal.
