Optional riders for Allianz Vision include Income Protector and Investment Protector

Minneapolis-based Allianz Life Insurance of North America (Allianz Life), a provider of annuities and life and long-term care insurance, has launched living benefit riders that were pulled from variable annuity.

According to the company, deferred variable annuity, Allianz Vision and its optional riders are expected to provide retirement income for life, while offering the potential to increase income in varying market conditions through annual payment increases.

Allianze Life also stated that the optional riders for Allianz Vision include Income Protector, a rider with a lifetime income benefit, and Investment Protector, a rider with an accumulation benefit.

Gary Bhojwani, president and CEO, Allianz Life, said: “We are fortunate to have the backing of a strong, diversified parent company, a disciplined business approach, and exceptional talent to navigate through economic ups and downs.”

Robert DeChellis, senior vice president of distribution for Allianz Life, said: “Saving for the future has taken on increased importance. Our products provide both choice and flexibility to help consumers choose the best way to comfortably accumulate retirement assets and create income to maintain their current lifestyle.”