Allianz Life Insurance Company of North America has launched its new MasterDex Plus annuity series.

The new, fixed-index, deferred annuity series revamps the existing MasterDex portfolio by adding new options, including the Income Plus Benefit rider on the Allianz MasterDex 5 Plus for an additional cost, giving the opportunity for consumers to receive lifetime payments that can grow every year with indexed interest.

The company said that the new MasterDex Plus series offers improvements by giving consumers more indexing options, more flexibility and a new income benefit on the MasterDex 5 Plus.

Eric Thomes, senior vice president of sales at Allianz Life, said that the MasterDex Plus annuity series and the Income Plus Benefit represent a new generation of product features for people in or approaching their retirement years during these times of economic uncertainty.

Mr Thomes added: We continue to develop and deliver new products because we know that both our agents and the consumers demand and expect the best from Allianz.