1Policy loans and withdrawals will reduce the available cash value and death benefit and may cause the policy to lapse, or affect guarantees against lapse. Withdrawals in excess of premiums paid will be subject to ordinary income tax. Additional premium payments may be required to keep the policy in force. In the event of a lapse, outstanding policy loans in excess of unrecovered cost basis will be subject to ordinary income tax. If a policy is a modified endowment contract (MEC), policy loans and withdrawals will be taxable as ordinary income to the extent there are earnings in the policy. If any of these features are exercised prior to age 59½ on a MEC, a 10% federal additional tax may be imposed. Tax laws are subject to change and you should consult a tax professional.
Life insurance can offer:
- Protection against the financial risk of dying too soon
- Some also offer the opportunity for powerful cash value accumulation
- The ability to take loans from available cash value
What is life insurance?
Life insurance is a contract between you and an insurance company. The main purpose of life insurance is to provide a financial benefit to your loved ones in the event of an early death. Typical reasons for buying life insurance include:
- Paying funeral expenses
- Providing mortgage assistance
- Supplementing educational expenses for children and spouse
- Replacing lost income
- Helping to protect the value of an estate after the insured passes on
Life insurance could be right for you if you want:
The reassurance of knowing your loved ones will receive an income-tax-free death benefit after you're gone.
The ability, in certain cases, to add cash value accumulation potential in addition to the death benefit.
Additional ways to help supplement expenses (with some products), including medical bills, college expenses, replacing lost income, or covering other emergency costs via policy loans and/or withdrawals using any available cash value, if needed.1
Fixed index universal life insurance:
Life insurance that provides death benefit protection with the potential to accumulate cash value.
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Guarantees are backed by the financial strength and claims-paying ability of Allianz Life Insurance Company of North America.
• Not FDIC insured • May lose value • No bank or credit union guarantee • Not a deposit • Not insured by any federal government agency or NCUA/NCUSIF
Products are issued by Allianz Life Insurance Company of North America, PO Box 59060, Minneapolis, MN 55459-0060.
In the state of New York, only Allianz Life Insurance Company of New York is authorized to offer annuities and life insurance. www.allianzlife.com/new-york
Product and feature availability may vary by state and broker/dealer.