Minneapolis - The Allianz Income Management Services division of Allianz Life Insurance Co. released its "PONG" annuity product, the Minneapolis-based insurer announced. PONG, broken down liberally, spells "P" - paychecks forever (lifetime income annuity payments), "O" - opportunity for a pay raise each and every year (payouts indexed to the S&P 500), "N" - never less income than what you start with, and "G" - guaranteed return of remaining premium to the beneficiary upon death, plus a 10% bonus (if taken as income). The PONG analogy, quite naturally, comes from the early and first real video game that helped spawn a revolution.It was quite simple and direct, much like the AIMS product, claims the company, which really goes under the name of Command Provider.
To that end, the AIMS "Command Provider" may be the first insurance product offered that gives the agent a "virtual company" experience.Agents and brokers will have the ability to access the AIMS Web site for 24/7 service; complete product training, brochures, suitability forms and online sales stories to help position a sale appropriately.
Source: Allianz Life Insurance Company of
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