The new priced RILA has a Living Benefit Rider: Annuity Moves

What do you want to know

  • Allianz Life believes its new annuity is the only paying RILA with a Guaranteed Living Withdrawal Benefit rider.
  • Buyers of a new North American Company annuity can use a rider to protect against one of four different types of risk.
  • Lombard International underwrites private placement variable annuities.

DPL Financial Partners and Allianz Life Insurance Company of North America have launched what they believe is a unique annuity.

The new Allianz Index Advantage Income ADV variable annuity contract appears to be the only registered fee-based indexed annuity with a guaranteed lifetime withdrawal benefit, according to DPL.

The income guarantee rider is automatically included in the contract and cannot be deleted.

Allianz Life will charge a product fee based on the contract value. The product fee will be 0.25% of the contract value and the income benefit endorsement will cost 0.7% of the contract value, DPL says.

DPL is a company that operates an online marketplace for annuities. Allianz Life is now distributing the new annuity through the DPL platform for registered investment advisers, DPL says.

Other companies also have news on annuities.

North American Life and Health Insurance Company

North American Company for Life and Health Insurance – a subsidiary of Sammons Financial Group – joins Annexus to launch two annuity contracts.

Annexus is an annuity designer and distributor based in Scottsdale, Arizona.

One of the new annuities is the North American Secure+. The other is the North American Secure Horizon Plus.

Earnest L. Veasey