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Allianz Introduces Flexible Immediate Annuity

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NU Online News Service, Aug. 12, 2004, 3:05 p.m. EDT

Allianz Life Insurance Company of North America has introduced a new annuity that makes it easy for clients to change their minds.[@@]

The company’s InCommandDex annuity is an equity indexed income product that allows clients to choose to take income immediately, wait until a later date or elect a combination of the two. They can also change their mind and walk away with the full cash value of the policy after 10 years of payments.

The InCommandDex offers a number of indexes and a fixed option, a monthly point-to-point crediting method and even offers options for agents to take their commissions, says Allianz Life, Minneapolis.

The product is designed to allow clients to make a good return on their money while giving them the security of an immediate annuity, explains Patrick M. Foley, president and chief executive of Allianz Individual Insurance Group, LLC, a division of Allianz Life.

Allianz Life is a unit of Allianz A.G., Munich.