Allianz Retire+ has received an ‘Approved’ rating for its longevity solution AGILE from investment research house Lonsec Research Pty Ltd (Lonsec).
The report determined AGILE to be a thoughtfully considered and well-designed product, that may assist in overcoming a major challenge facing retirees being longevity risk by providing a steady or rising income stream over an investor’s lifetime.
Lonsec considers AGILE to have a place alongside other retirement products available to Australian retirees and form part of an overall retirement strategy. AGILE provides investors with a vehicle to participate in market-linked returns with inbuilt protection in both the Growth and Lifetime Income phases. Furthermore, the product offers flexibility with transparent costs and delivers certainty with a guaranteed lifetime income.
Allianz Retire+ Chief Product & Marketing Officer Simon Aboud says, “This ‘Approved’ rating from Lonsec is a key milestone for the business as we continue sharing AGILE with the market. AGILE was designed with retirees at the forefront yet we carefully considered how advisers could access and use AGILE with their clients, which is why the solution is designed to integrate into their current ecosystem, enabling a streamlined process.
When developing AGILE we were determined to deliver certainty of income and flexibility for retirees within a solution. AGILE is designed to help people plan for retirement in advance by locking in a known retirement income rate and providing flexible access to capital if required[1].
We understand that retirees need certainty of income in retirement to mitigate longevity risk, and we believe AGILE solves this fear by delivering a guaranteed income stream for life. As a next generation retirement solution, AGILE also delivers flexibility should a retiree’s circumstances change by providing access to capital.”
AGILE is designed to enhance the provision of retirement planning for advisers. It offers the ability to lock in a guaranteed future rate of income while clients are still in the accumulation phase (pre-retirement) to better plan retirement strategies with certainty.
The solution was developed in consultation with the adviser community, super funds, direct retiree feedback and the global Allianz network in established retirement markets.
Lonsec concluded Allianz Retire+ is well structured, with a robust governance framework and clear lines of accountability. The rating follows the recent appointments within the wealth team as AGILE is distributed to the market.
Allianz is a global leader in the provision of retirement solutions. With over 30 years’ experience in the US retirement market, the group has a presence in over 70 countries and serves 126 million retail and corporate clients. Allianz has been offering customer-centric solutions for Australians since 1914.
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