Allianz Retire+ announces a new solution that enables advisers to construct retirement strategies with certainty.
Allianz Retire+ has announced enhancements to its industry-first longevity solution Allianz Guaranteed Income for Life (AGILE) launched in March this year.
The retirement income solution has been in the market for over eight months and has received a positive response from both the advice and superfund industry.
The new enhancements have been added to optimise AGILE, following industry feedback and calls from the Government to deliver more flexible retirement income options to Australians. The updates include:
- Age Pension+ option – delivering higher potential age pension eligibility due to reduced treatment for Age Pension assets test. The death and withdrawal benefit available for this option is limited.
- Spouse Insured option – this feature allows income for life to continue to be paid to the investor until the later death of the life insured or their spouse.
“We are really excited to bring these new enhancements to the market. After consultation with the advice and trustee community we know a key issue for some clients when planning for retirement is assessing eligibility for the pension. Which is why we are proud to deliver the Age Pension+ option where an adviser or retiree can have maximum flexibility to choose if they want to access higher potential age pension eligibility within a single product – an industry first.
The other big issue during retirement is understanding if income will be paid for the life of a surviving spouse in the event of death. We have enhanced our offering to provide a choice for both of these circumstances to deliver greater certainty of income and flexibility for advisers and their clients. We are committed to continually refining and updating our solutions to meet the demands of Australian retirees,” said Chief Product and Marketing Officer, Simon Aboud.
AGILE is a next generation retirement solution that delivers a guaranteed income for life, provides full advice platform integration opportunities and can be embedded within superannuation funds and account-based pensions. The solution also enables advisers to construct retirement strategies with certainty, years in advance of a client’s retirement.