Allianz Life’s Annuity Products Now Supported on Morningstar® Retirement Manager℠

Allianz Lifetime Income+ Annuity added to a leading managed accounts program

MINNEAPOLIS – Aug. 17, 2021 – Allianz Life Insurance Company of North America (Allianz Life) announced today that it has teamed up with Morningstar Investment Management LLC to help individuals allocate their retirement savings to its annuity products through the Morningstar Retirement Manager service. The Allianz Lifetime Income+ Annuity with the Lifetime Income Benefit will be the first Allianz Life product to be added as Allianz Life enters the defined contribution market.

Morningstar Retirement Manager is a managed accounts and advice service that helps individuals at every stage of their retirement journey with personalized and independent advice on how much to save, how to invest, when to take Social Security, and more. The service will even manage an individual’s investment strategy on an ongoing basis.

The addition of the Allianz Life annuity means Morningstar Retirement Manager users with access to the annuity through their retirement plan can contribute to a new product designed to help them mitigate against risk in retirement via guaranteed income. Only individuals whose retirement plans offers both Morningstar Retirement Manager and the Allianz Life annuity will have access to this expanded service offering.

“Morningstar Investment Management is an established leader in retirement services that will help us reach many more people seeking guaranteed income options as part of their retirement plan,” said Matt Gray, Head of Employer Markets, Allianz Life. “Through Morningstar Retirement Manager, individuals receive recommendations to help ensure that they are allocating the right amount of their investable assets to guaranteed income at the right time for what could likely be a lengthy retirement.”

Allianz Life recently announced its entry into the defined contribution market. Allianz Lifetime Income+ is a fixed index annuity that offers innovative design features including growth potential, protection from market loss, and guaranteed lifetime income through the Lifetime Income Benefit, which has the potential to increase annually for life to help address the effects of inflation.

“As a new entrant into this market, our relationship with Morningstar Investment Management puts in place an immediate and strong infrastructure that will enable us to better reach and serve the growing defined contribution market,” added Gray. “This relationship will serve to simplify the integration of annuities into sponsored plans, which is an important step in making guaranteed income options more widely available.”

“Morningstar Retirement Manager has been helping retirees spend down their retirement savings in a sustainable way for over a decade,” said Brock Johnson, President of Global Retirement and Workplace Solutions, Morningstar Investment Management. “Our ability to help individuals determine how to allocate to guaranteed income products like Allianz Lifetime Income+ gives us more flexibility to help individuals achieve their retirement goals.”

Guarantees are backed by the financial strength and claims-paying ability of Allianz Life.

Products are issued by Allianz Life Insurance Company of North America (Allianz). 5701 Golden Hills Drive, Minneapolis, MN 55416-1297

Any distributions are subject to ordinary income tax and, if taken prior to age 59½, a 10% federal additional tax.

About Allianz Life Insurance Company of North America

Allianz Life Insurance Company of North America, one of the Ethisphere World’s Most Ethical Companies®, has been keeping its promises since 1896 by helping Americans achieve their retirement income and protection goals with a variety of annuity and life insurance products. In 2022, Allianz Life provided additional value to its policyholders via distributions of more than $7.7 billion. As a leading provider of fixed index annuities, registered index-linked annuities, and fixed index universal life insurance, Allianz Life is part of Allianz SE, a global leader in the financial services industry with approximately 150,000 employees in more than 70 countries. Allianz Life is a proud sponsor of Allianz Field® in St. Paul, Minnesota, home of Major League Soccer’s Minnesota United.