LifeYield, a cloud-based investment solutions provider, has announced a partnership with Allianz Life Insurance, for its Social Security Advantage solution.


Image: LifeYield offers its Social Security Advantage solution for Allianz Life. Photo: Courtesy of Capri23auto from Pixabay.

Under the new collaboration, LifeYield is set to offer its Social Security Advantage solution for financial professionals carrying out business with Allianz Life.

The partnership will enable Allianz Life wholesalers to provide financial professionals with access to Social Security Advantage.

In addition, the tool provides financial professionals with access to advanced software that provides personalized advice to the clients on multiple variables surrounding Social Security and retirement planning.

LifeYield CEO Mark Hoffman said: “For many Americans, Social Security is the most important part of their retirement plan, but it can also be confusing. Social Security Advantage gives the financial professionals who do business with Allianz Life another powerful opportunity to gain and keep more clients that need help in the complicated science of retirement planning.”

The Social Security Advantage solution enables financial professionals to provide information on optimal timing to take social security benefits, and how to file based on various financial and spousal scenarios, depending on the retirement goals of the client.

In addition, the solution enables financial professionals to provide their clients with customised reports showing how much more they can expect to receive based on LifeYield’s suggested actions.

Allianz Life business development & relationship management head Corey Walther said: “Allianz Life has long emphasized the importance of retirement planning, including factoring in Social Security, to our financial professionals and their clients.

“LifeYield’s tools take concepts like asset location and asset allocation, and ways to draw income in retirement, and use the power of technology to help financial professionals offer high-quality information to their clients.”

In August 2018, Allianz Life and Securian Financial have partnered with gener8tor, the startup accelerator, to establish OnRamp Insurance Accelerator.

As part of the new partnership Allianz Life Ventures, Securian Financial, and gener8tor relationship are conducting annual OnRamp Insurance Conference held in Minneapolis, US.

Allianz Life is part of Allianz, a financial services firm with more than 142,000 employees in over 80 countries.