A new fixed indexed annuity includes allows retirement income to increase and be made available after 5 years.
Offered by Allianz Life Insurance Company of North America, Golden Valley, Minn., and approved in 40 states, the policy is designed for pre-retirees. Called Endurance Elite, it also includes traditional fixed annuity features such as principal protection and tax-deferral of accumulation value.
The company says the policy’s income features include:
- Access to full accumulation value or income payments after 5 years, or a choice of letting the contract continue to accumulate.