Allianz Life Insurance Company of North America recently introduced Allianz 360, a fixed index annuity exclusive to field marketing organizations and agents associated with the new Allianz Preferred distribution model.
The new annuity has a lifetime payout percentage that increases every year the client holds the contract prior to income beginning, starting at age 40.
Allianz 360 also includes a 50% interest bonus of any interest credited every year prior to taking income withdrawals. The interest and bonus are credited to the accumulation value, which means it’s available for lump sum (though surrender charges may apply), income withdrawals or death benefit. Traditional annuity payments are also available.
“The longer you hold Allianz 360 before taking lifetime income withdrawals, the greater the percentage of income available for lifetime withdrawals will be,” says Eric Thomes, Allianz Life’s senior vice president of sales. “If a customer purchased the contract at age 55 and held it for 10 years, their withdrawal percentage would increase from 3.50% to 7% or 4.50% to 8% depending on the income option they chose. No other annuity offers this benefit.”
For more information about the Allianz 360 Fixed Index Annuity, visit www.allianzlife.com