Allianz Life Insurance of North America (Allianz Life) is offering the new Allianz Retirement Advantage Variable Annuity through Wells Fargo Advisors’ Asset Advisor Program.

The new product is a cost-efficient retirement solution designed to specifically provide the growing advisory services to market professionals with opportunities for either tax-deferred growth potential or guaranteed lifetime income.

Allianz Life Financial Services president Robert DeChellis said long-term retirement products that are flexible and provide low-cost allocation options are increasingly sought by the customers today.

”We designed this product to cater to those needs by allowing people to easily transfer their money between accounts as their goals change. Our customers can invest for performance or protection as they see fit,” DeChellis added.

An array of account choices with altering levels of protection, guarantees, and investment options are provided by Allianz Retirement Advantage to help supplement a retirement portfolio, each with its own cost.

Clients working with a financial advisor at Wells Fargo Advisors will also be offered new opportunities to enhance protection level of their portfolio, which is specifically designed for flexibility, legacy preservation and lifetime income.

Allianz Life, part of Allianz SE, is a provider of a wide range of fixed index annuities and life insurance products across the US and worldwide.