New Fixed Index Annuity Solution from Allianz Life Helps Clients Address Challenges with RMDs, Leave Financial Legacy

To help clients navigate the sometimes-confusing required minimum
distribution (RMD) process while also enhancing their financial legacy,
Allianz Life Insurance Company of North America (Allianz
Life^®) today announced the launch of its Legacy
by Design℠ fixed index annuity (FIA) solution.

Legacy by Design is a combination of two FIAs that work together to
systematically and efficiently address unneeded RMD income from
qualified accounts and the associated taxes, while also potentially
enhancing a client’s financial legacy.

The first FIA in the solution is Allianz Legacy Planner℠ Annuity, which
is funded with qualified money from either an individual IRA or SEP IRA.
This annuity is where RMDs are automatically withdrawn from on an annual
basis, offering an efficient way to help ensure clients are compliant
with the minimum distribution rules of the Internal Revenue Code. Since
the RMDs are taxable, clients may choose to specify a portion be
withheld to cover taxes.

Any remaining amount left over can be taken in cash, or moved to the
second FIA of the product: Allianz Legacy Plus℠ Annuity. Here, the
unneeded RMDs that move from Legacy Planner will remain as a
nonqualified annuity. The death benefit of this annuity includes a 25
percent death benefit bonus that is available to beneficiaries¹.

“In a recent study*, we found that many clients don’t necessarily need
their RMDs for day-to day use, and are more interested in using the
funds to leave a financial legacy,” said Eric Thomes, chief distribution
officer, Allianz Life. “This first-of-its-kind product is designed to
not only help clients comply with rules around RMDs and help address the
impacts of taxes, but to also help them use the RMD to their advantage
to leave a financial legacy to their beneficiaries.”

Both Legacy Planner and Legacy Plus offer a variety of indexes and
crediting methods (index allocations), as well as a fixed interest
allocation, offering clients the potential to continue to grow their
financial legacy, while helping to address the impacts of taxes.

In addition to offering tax-deferred growth opportunities, the Legacy
Planner and Legacy Plus annuities protect principal and credited
interest, which helps ensure a client’s legacy is protected from market
downturns.

¹ The Death Benefit Bonus is not available to the contract
owner as a full or partial withdrawal. If the Legacy Plus contract is
annuitized, the Death Benefit Bonus will not be included in the
annuitization value, unless the contract owner reaches age 100. The
Death Benefit Bonus will be decreased by any partial surrenders.

About Allianz Life Insurance Company of North America
Allianz
Life Insurance Company of North America, one of the FORTUNE 100 Best
Companies to Work For® in 2019, 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 2018,
Allianz Life provided $2.8 billion in benefit payments that helped
policyholders’ achieve their financial goals. As a leading provider of
fixed index annuities, Allianz Life is part of Allianz SE, a global
leader in the financial services industry with over 142,000 employees in
more than 80 countries. Allianz Life is a proud sponsor of Allianz Field
in St. Paul, Minnesota, home of Major League Soccer’s Minnesota United.

*Allianz Life Insurance Company of North America conducted an online
survey. The RMD Options Study was conducted in February/March 2018, and
included a nationally representative sample of 805 respondents ages
65-75 with retirement savings of $500,000 if single or $750,000 if
married and who are the primary decision maker or share equally in
decision making.

Legacy by Design (C64281-Q, C64281-NQ) is issued by Allianz Life
Insurance Company of North America

Guarantees are backed by the financial strength and claims-paying
ability of the issuing company

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