Allianz FIA Product Annuity Includes Bond Index Option
February 16, 2010 by NU ONLINE NEWS SERVICE
Already available for sale in 35 states, the policy offers:
– The ability to earn interest by allocating to the Barclays Capital U.S. Aggregate Bond Index or a fixed interest allocation.
– Access to full accumulation value after 5 years, or let the contract continue to accumulate.
– Annual point-to-point crediting with a spread used in calculating the credited interest. (The spread for February 2010 is 1.3%, according to the company.)
– The ability to take up to 10% of the premium in free withdrawals each year, starting immediately.
– The option to begin an annuity income stream after one contract year.
The bond index allocation is a first for Allianz Life fixed annuities, according to the company.
The policy guarantees are backed by the financial strength and claims-paying ability of Allianz Life.
A new fixed index annuity has debuted with a bond index allocation option plus an annual reset crediting method.Called the Allianz Pro V1 Annuity, the policy is being issued by Allianz Life Insurance Company of North America, Golden Valley, Minn., a unit Allianz S.E., Munich, Germany.
Already available for sale in 35 states, the policy offers:
– The ability to earn interest by allocating to the Barclays Capital U.S. Aggregate Bond Index or a fixed interest allocation.
– Access to full accumulation value after 5 years, or let the contract continue to accumulate.
– Annual point-to-point crediting with a spread used in calculating the credited interest. (The spread for February 2010 is 1.3%, according to the company.)
– The ability to take up to 10% of the premium in free withdrawals each year, starting immediately.
– The option to begin an annuity income stream after one contract year.
The bond index allocation is a first for Allianz Life fixed annuities, according to the company.
The policy guarantees are backed by the financial strength and claims-paying ability of Allianz Life.
