MINNEAPOLIS – May 4, 2021 – Allianz Life Insurance Company of North America (Allianz Life) today announced new auto lock capabilities on select fixed index universal life (FIUL) insurance policies and fixed index annuity (FIA) contracts.
The innovative new feature allows policy and contract holders to set an Index Lock once during a crediting period. If reached, it will be automatically locked in until the end of that crediting period.
“Auto lock makes it even easier to lock in an index value and receive positive interest credits without having to constantly check index values or manually activate an index lock,” said Eric Thomes, chief distribution officer, Allianz Life. “This helps reduce risks during times of uncertainty and also helps decrease the probability of receiving zero percent interest.”
The new auto lock feature is available on select Allianz Life FIA contracts and FIUL policies and are in addition to traditional FIA benefits such as index interest growth potential, lifetime retirement income, and a death benefit for beneficiaries. FIUL contracts provide a generally income-tax free death benefit for beneficiaries and the potential to build accumulation value. The feature is available on new applications and inforce policies and contracts that currently offer the manual index lock feature.
Guarantees are backed by the financial strength and claims-paying ability of Allianz Life Insurance Company of North America
Products are issued by Allianz Life Insurance Company of North America.
Any distributions are subject to ordinary income tax and, if taken prior to age 59½, a 10% federal additional tax
P64339, C54370-MVA, R95352-MVA, R95316-01-MVA, R95374-MVA, C64237-MVA, R95581-01-MVA, P64339