Allianz Life Insurance Co. of North America has updated its Allianz Life Pro+ Fixed Index Universal Life Insurance (FIUL) Policy, adding a new blended index allocation option with a 2 percent annual floor, which is designed to offer more choice and flexibility for policyholders who want to grow the cash value of their policy. The blended index allocation is made up of the Dow Jones Industrial Average, EuroSTOXX 50, Russell 2000 and Barclays Capital U.S. Aggregate Bond Index, with a 2 percent annual floor that provides another level of protection against market volatility.
With the new blended index allocation option, if the index performance is positive, consumers can receive credited interest up to the current 11 percent cap. If the index performance is flat or negative, the annual floor means clients still receive 2 percent credited interest. The annual reset locks in all credited interest each year—so it can never be lost due to negative index performance. Keep in mind that certain fees and expenses will reduce cash value.
Life Pro+ also offers an innovative optional Inflation Protection Rider, which is available at an additional cost (based on age, gender, risk class and death benefit) at the time it is exercised. There is no additional cost if the rider is not exercised.
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