NU Online News Service, May 29, 2003, 11:47 a.m. EDT – Allianz Life Insurance Company of North America, Minneapolis, is introducing the PowerDex Annuity equity-indexed annuity and the Generation Planner universal life insurance policy.
The PowerDex annuity offers a “high water” feature that lets the policy’s maximum growth become its minimum value five years later. This feature locks in the policy’s value at its highest point, regardless of market index performance in subsequent years.
The guarantee is backed by the financial strength of Allianz Life, which is a unit of Allianz A.G., Munich.
Optional riders include a feature that can increase monthly annuity payments by as much as 60% when purchasers need help with activities of daily living.
The Generation Planner universal life policy provides a death benefit guaranteed to age 100 and an option to continue the death benefit to age 120.
An optional feature offers cash benefits of up to $10,000 per month for insureds who need long-term care.
A built-in feature accelerates payment of the death benefit to insureds who are terminally ill.