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.
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Singles
Whether or not you have dependents, life insurance could be beneficial in future situations. Suppose you had unsettled debt at the time of your death. The death benefit from life insurance could help pay down any existing debt.
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Married/domestic partners
In order to plan for and help protect your loved ones in the future, it’s important to think about the financial requirements that may arise with each milestone – throughout career changes, home ownership, and saving a nest egg for you and your spouse or partner.
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Traditional families
At this point in your life you may have young children, or teenagers attending college soon that you want to help protect and provide for in the future. You may be faced with concurrent long-term expenses, such as saving for your retirement, while at the same time funding a child’s day care expenses or college tuition.
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Empty nesters/retirees
With your working years nearly complete, now may be the time to help protect your loved ones and strategically allocate your savings. By doing so, you could be better prepared and more comfortable in the years that lie ahead.
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:
Income-tax-free death benefit
The reassurance of knowing your loved ones will receive an income-tax-free death benefit after you're gone.
Accumulation potential
The ability, in certain cases, to add cash value accumulation potential in addition to the death benefit.
Supplementing expenses
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
FIUL is life insurance that provides death benefit protection with the potential to accumulate cash value.
Term life insurance
Term life insurance is affordable coverage for those looking for protection for a specific period of time.
Suggested topics for you:
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Retirement Income Calculator
How much money will you need to save over time to generate your desired income in retirement?
Calculators/Tools
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Why Allianz
Over 115 years old and still going strong. See why Allianz continues to be a leading provider of retirement solutions since 1896.
Planning Materials
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Contact Us
Need help finding a financial professional? Questions about a product?
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.
