Allianz Life Launches Legacy+™ Income Benefit for RILA Products
Allianz Life Insurance Company of North America has unveiled a novel addition to its registered index-linked annuity (RILA) offerings, ensuring a death benefit even if the contract value drops to zero due to income withdrawals.
The Legacy+™ Income Benefit rider, optional yet invaluable, is designed to preserve a financial legacy while offering lifetime income. This move is in direct response to a growing trend among Americans who prioritize leaving a financial legacy over personal retirement spending. According to the 2026 Annual Retirement Study by the Allianz Center for the Future of Retirement®, this sentiment has increased significantly, with Americans emphasizing legacy over expenditure climbing from 38% to 56% in just five years.
RILA Products with a Legacy Focus
Allianz Life’s innovation lies in guaranteeing that the Legacy Value, defined as 50% of the accumulated contract value at the onset of income payments, remains unchanged, irrespective of how long the income period lasts. Beneficiaries have the flexibility to access this guaranteed Legacy Value sooner when needed. This rider is currently an option for two specific products: the Index Advantage+ Select Income® Annuity and the Income Advantage ADV® Annuity.
The Legacy+™ Income Benefit provides retirees with the confidence to enjoy their retirement, knowing their legacy will remain intact.
Corey Walther, President, Allianz Life Financial Services, LLC
What This Means for the Industry
This development reflects an evolving landscape where financial products are increasingly tailored to meet consumer desires for both income security and legacy preservation. For insurance agents and underwriters, the addition of the Legacy+™ Income Benefit rider highlights the necessity of aligning product offerings with emerging consumer priorities. Additionally, by providing innovative features such as guaranteed legacy values, Allianz Life positions itself favorably within a competitive market, prompting others to potentially reassess their annuity features.