Allianz Life Joins Alliance for Lifetime Income as Founding Member
June 28, 2018
MINNEAPOLIS – June 28, 2018 – To better help Americans address the risk of outliving their income, Allianz Life Insurance Company of North America (Allianz Life®) today announced it is a founding member of the new Alliance for Lifetime Income. The Alliance is made up of 24 financial services organizations that seek to provide resources and education to consumers and financial professionals on the value of protected monthly retirement income. The Alliance is rolling out a nationwide, multi-year campaign designed to raise awareness of this important aspect of financial planning.
“Traditionally, most people have focused heavily on the accumulation of assets for retirement, and have given little thought to financial planning in retirement,” said Walter White, president and CEO, Allianz Life. “The Alliance will broaden the conversation by informing customers and financial professionals about the value of income planning and income solutions in retirement.”
The Alliance sees annuities as a key method to diversify strategies for taking retirement income and to help protect part of a retirement portfolio.1 While many misconceptions around annuities exist today, the Alliance hopes to counter and dispel these misunderstandings by simplifying the concepts and language of annuities, encouraging protected lifetime income to be included in financial planning conversations, and helping consumers understand the many features of annuities.
About the Alliance for Lifetime Income
The Alliance for Lifetime Income, based in Washington, D.C., is a nonprofit 501(c)(6) organization formed and supported by the nation’s leading financial services organizations to educate Americans about protecting their retirement income for life. The Alliance is focused on helping Americans address the risk of outliving their savings so they can enjoy their retirement lives. The Alliance provides consumers and financial professionals with the resources and insight they need to build plans for protected retirement income.
About Allianz Life Insurance Company of North America
Allianz Life Insurance Company of North America, one of FORTUNE’s 100 Best Companies to Work For® in 2018, has been keeping its promises since 1896. Today, it carries on that tradition, helping Americans achieve their retirement income and protection goals with a variety of annuities and life insurance products. In 2017, Allianz Life provided a total of $2.7 billion in benefit payments that supported policyholders’ financial objectives. As a leading provider of fixed index annuities, Allianz Life is part of Allianz SE, a global leader in the financial services industry with 142,000 employees in more than 70 countries worldwide. More than 85 million private and corporate customers rely on Allianz knowledge, global reach, and capital strength to help them make the most of financial opportunities.
1 ‑ Some annuities offer a level of protection through optional, additional cost riders.