Published 24 May 2017
Allianz Life Insurance Company of North America has introduced two new index variable annuity (IVA) products, which will offer several ways to benefit from the balance of performance potential and level of protection.
The new products, Allianz Index Advantage ADVSM Variable Annuity and Allianz Index Advantage NFSM Variable Annuity, have been modeled on the lines of the company’s Allianz Index Advantage Variable Annuity product.
The two new variable annuity products are expected to help the company capitalize further on the increasing demand for IVAs.
Besides, the new IVA line-up is believed to bring the well-accepted concept of upside potential with some protection to a wider market of consumers, stated Allianz Life.
Allianz Life chief distribution officer Tom Burns said: “By offering Index Advantage ADV and Index Advantage NF, Allianz Life now has a suite of index variable annuity products that help balance risk and return, giving clients more options for building a solid retirement foundation.
“These IVAs offer an opportunity to grow a client’s retirement nest egg by being able to participate in market gains while still having a level of asset protection.”
While Allianz Index Advantage ADV has been designed exclusively to fit within a fee-based portfolio, Allianz Index Advantage NF has no annual product fee on the index strategies which helps it create a new option for fee-sensitive clients.
Both the IVA products are claimed to assist clients in achieving long-term financial goals. This, Allianz Life says is through the combination of variable options and three index options that balance between protection and performance potential.
Apart from that, the new annuity products also give features like tax-deferred growth opportunities and a death benefit which is built-in.
Image: Allianz Life Taiwan headquarters in Taipei City. Photo: courtesy of Padai/Commons.wikimedia.org.