Allianz Life Insurance Company of North America announced new innovative enhancements to the Allianz Life Pro+ Fixed Index Universal Life Insurance (FIUL) policy.

In addition to helping agents provide income-tax-free death benefit protection for beneficiaries, Allianz Life Pro+ now offers a Convertible Term Rider that helps clients add additional coverage that can adapt as their needs and lifestyle change, and a multiplier interest bonus to accelerate the accumulation potential of the policy.

The Convertible Term Rider – one of nine optional riders available on the Allianz Life Pro+ policy – allows the policyholder to add term insurance to their permanent policy, subject to certain limits, and have the option to convert all or a portion of the term coverage, over time, to permanent coverage. Conversion is available in policy years 2 through 10, without additional underwriting.

The new interest bonus design uses a multiplier factor to help grow the accumulation potential of the policy. Beginning in year 11, the bonus is calculated based on any interest earned throughout the policy year, and credited annually, with a cap of 1.0%. The multiplier rate is guaranteed for the life of the policy.

"The latest enhancements to Allianz Life Pro+ provide consumers with increased flexibility to address a variety of changing needs, from a new addition to the family to an unexpected financial obligation," said Jason Wellmann, senior vice president of Life Insurance Sales for Allianz Life. "These new innovations will help people maintain their financial well-being in the present and protect against vulnerability in the future."


In addition to these product enhancements, Allianz Life has new tools available to help financial professionals discuss the importance of life insurance with their clients.

Launched in 2011, some advantages of Allianz Life Pro+ include:

Tax advantages, including income-tax-free death benefit to beneficiaries, potential to build cash value on a tax-deferred basis, and policy loans from any available cash value that are income-tax-free while the policy remains in force.1

Chronic Illness Accelerated Benefit Rider2 – Clients can accelerate a portion of their death benefit if they become chronically ill or cognitively impaired (under specific criteria). This feature is included with the policy at issue, and can help clients prepare financially should they become chronically ill.

Premium Deposit Fund (PDF) Rider – Allows clients to fund the PDF Rider with a single lump-sum amount, and have annual planned premiums automatically transferred from the PDF Rider to the life insurance policy.3

Cash value accumulation potential that can earn interest based on a variety of index allocations that include an exclusive blended index, the Barclays US Dynamic Balance Index II, and the S&P 500® Index for newly issued policies.

A fixed interest allocation is also available. With the built-in annual reset feature, any indexed interest credited is locked in and can never be lost due to market volatility, meaning the policy’s cash value is guaranteed to never decrease due to negative index changes. Certain fees and expenses will reduce cash value.

Policy loans and withdrawals1 – including a low 5% guaranteed indexed loan interest rate – that can help supplement retirement income, supplemental college funding, financial emergencies, or business succession planning and more. The annual 5% indexed loan rate is guaranteed for the life of the policy, and among some of the most competitive indexed loan rates available within the life insurance industry.

Keep in mind that most life insurance policies require health underwriting and financial underwriting. Life insurance involves certain fees and expenses. Individuals should discuss with their financial professional whether a life insurance policy meets their needs.