Accumulation Advantage+ offers a premium bonus on the money placed in the annuity for the first 18 months, vested at a rate of 10% each contract year.
PRODUCT: Allianz Accumulation Advantage+™ Annuity
COMPANIES: Companies involved: Allianz Life Insurance Company of North America
BEST RATING: A+
AVAILABILITY: Appointed agents and brokers.
FOCUS: Over the past decade, the fixed index annuity (FIA) market has seen a significant interest in accumulation-focused solutions, specifically with bonus accumulation FIAs. Allianz recently expanded its products in the accumulation-focused FIA space.
Two-thirds of Americans worry more about running out of money than death, according to the Allianz “2024 Annual Retirement Study," with many Americans ranking increasing retirement savings and putting a portion of their retirement savings in a product that provides a balance of market protection and growth in their top three solutions to avoid running out of money.
The Allianz Accumulation Advantage+™ Annuity offers principal protection and the opportunity for growth, along with a bonus, which can be a powerful part of a financial strategy to address financial worries.
COVERAGE DETAILS: Accumulation Advantage+ offers a premium bonus on the money placed in the annuity for the first 18 months, vested at a rate of 10% each contract year. It also offers a variety of index options to help clients diversify. These options include a performance trigger crediting method that credits a pre-determined percentage if the change in the index value is 0% or better. The index lock feature allows policyholders to lock in an index value on certain allocation options during the crediting period.
Accumulation Advantage+ also offers flexibility in accessing funds. In the years following any year in which premium is paid, the policyholder can take up to 10% of the contract's paid premium or beginning of the year accumulation value—whichever is greater—in one or more withdrawals per contract year without having to pay penalties. Any unused free withdrawal percentage carries over to the next contract year, up to a maximum of 20%.
UNDERWRITING: The maximum age for the annuity is 80 years old. The minimum premium is $20,000 and the maximum is $2 million. Caps, participation rates and interest rates vary based on initial premium amounts. Policyholders may add more premium in the first 18 months in any amount between $25 and $25,000. Higher amounts must be approved by Allianz.
TARGET: Allianz Accumulation Advantage+™ Annuity was built for people who are working to accumulate assets for retirement and want to protect a portion of their portfolio from market losses.
COVERAGE AVAILABILITY: All U.S. states except New Jersey, New York and Oregon.
CONTACT: Sarah Hauer, senior external communications specialist, Allianz Life; Golden Hills Dr., Minneapolis, MN 55416; 763-763-7341.
