Allianz Life Insurance Company of North America (Allianz), has launched the Allianz Pro V1 Annuity, a fixed index annuity that provides protection, guarantees, and a bond index allocation strategy with the power of annual reset.
According to Allianz Life, the features of the new fixed index annuity include, earning interest by allocating to the Barclays Capital US Aggregate Bond Index or a fixed interest allocation; access to accumulation value after just five years, or let the contract continue to accumulate; and annual point-to-point crediting with a spread.
In addition, the new annuity also provides the ability to take up to 10% of the premium in free withdrawals each year, and the option to begin an annuity income stream after just one contract year.
Eric Thomes, senior vice president of sales for Allianz Life, said: “Consumers continue to tell us that they want more guarantees for their retirement savings as protection against the possibility of market volatility, but also quicker access to their money. Allianz Pro V1 protects contract owners’ principal and credited interest, while providing access to the annuity’s full accumulation value after five contract years.”
Allianz Life, part of global financial services firm Allianz SE, provides an array of annuities and life insurance products in the US through a network of independent distribution.