Allianz Life Insurance Company of North America is entering the defined contribution market with the launch of its Allianz Lifetime Income+ Annuity, according to an announcement by the firm.
The Allianz Lifetime Income+ Annuity will be available for adoption in employer-sponsored plans and will offer plan participants a stream of guaranteed lifetime income that is flexible and portable.
“Participants face many risks in retirement including: longevity, inflation, market volatility and the need for growth and flexibility to adapt to changing circumstances,” says Matt Gray, Allianz Life’s Head of Employer Markets. “Allianz Lifetime Income+ can help them effectively manage these risks and play a key part in their comprehensive financial retirement strategy.”
The firm also announced it has hired Mike De Feo to lead its newly formed Defined Contribution Distribution team, where he will be responsible for the distribution strategy, business development and distributor relationships of the company’s DC business. De Feo most recently led the retirement and DCIO business at VOYA Investment Management. Prior to VOYA, he was a managing director and head of the DCIO business at Nuveen Investments.
“Allianz Life has a reputation for developing innovative products that help people address the many risks in retirement,” notes De Feo. “This experience gives us the ability to provide a new choice in retirement solutions for employer-sponsored plan participants so that they are able to attain their financial goals regardless of how long their retirement lasts.”
For more information about the Allianz Lifetime Income+ Annuity, go to: http://www.allianzlife.com/dcplan.
