Calling it an industry first, Allianz Life Insurance Co. of North America introduced the Allianz Endurance 15 Annuity. This fixed indexed product offers a 15 percent bonus on all premium paid during the first three contract years. The bonus is credited to an enhanced withdrawal benefit value. To sweeten the pot even more, the EWB value receives a 110 percent enhancement on all fixed and/or indexed interest.
Contract owners can access the EWB value after 10 years of accumulation and over a period of at least 10 years. Once EWB income is taken, however, it is categorized as a partial withdrawal and taxed as ordinary income. Endurance 15 owners have eight allocation options to choose from:
- S&P 500 annual point-to-point or monthly sum
- FTSE 100 annual point-to-point or monthly sum
- NASDAQ 100 annual point-to-point or monthly sum
- Blended index
- Fixed-interest option
The product also offers three modes for taking retirement income:
- Scheduled withdrawals
- Lifetime income
- Traditional annuitization
For more information, visit www.allianzlife.com.