Allianz Introduces GenDex Foundation Life Insurance: Customizable Universal Life Insurance With Indexing Options

Minneapolis, MN/PRNewswire/ Allianz Life Insurance Company of North America Allianz is introducing GenDex Foundation(SM), a flexible premium fixed index universal life insurance policy. In addition to providing a death benefit, it offers the consumer affordable premiums, guarantees, and a variety of other options that enable consumers to create a policy customized to fit their specific needs.

While the desire for insurance is high, many people are stymied by all the offerings in the marketplace. In a 2007 study conducted by LIMRA(1), a life insurance market research organization, 50% of adults don't know how much coverage to buy, and 39% worry about making the wrong decision when purchasing life insurance. As a result, the insurance industry is evolving to meet customer needs.

"GenDex Foundation offers lower-cost, guaranteed premium life insurance coverage that can be a good alternative to a traditional life insurance policy, which may be less flexible," said Scott Fryklund, vice president of life insurance at Allianz. "As demographics have shifted, so has consumer demand. As a result, the insurance industry is undergoing many changes. GenDex Foundation was created to meet consumer demands."

In addition to providing beneficiaries with a death benefit, the GenDex Foundation offers life insurance solutions for consumers in various life stages, such as:

• Affordable and flexible premiums
• Fixed and indexed interest options
• A positive, adjustable annual floor in the event the index is flat or negative
• Long Term Care Accelerated Benefit Rider, which provides policyholders death benefit acceleration or continuation to help pay for long term care expenses, along with other optional riders (all available at an additional cost)

Universal Life (UL) provides coverage for your entire lifetime, and the flexibility to pay premiums at any time and in any amount (subject to some limits), as long as policy expenses and cost of coverage are met. UL policies also have the potential for tax-deferred cash value accumulation that may be accessed under certain circumstances.(2) With the GenDex Foundation, the cash value can accumulate at a declared interest rate or by potential indexed interest. Indexed interest is credited based on changes in an external index or indexes, which policyholders choose when they purchase the policy.

For more information about Allianz and the new GenDex Foundation life insurance product and the entire GenDex series, visit: www.allianzlife.com.

SOURCE: Allianz Life Insurance Company