Called Allianz Core Income 7 Annuity, the new annuity along with its Core Income Benefit ride, which ensures principal and credited interest against losses in market downturns, will expand on retirement solutions that registered representatives can provide.
The product will feature a built-in income rider and a pair of lifetime-withdrawal options, and comes with a seven-year surrender schedule.
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Currently available in 39 states, the new indexed annuity will be automatically included in the FIA contract at an extra cost.
Allianz Life chief distribution officer, Tom Burns, said: "The Allianz Core Income 7 gives flexible income options to help bridge income gaps retirees may face. With the help of its guaranteed lifetime income withdrawals, customers can cover core living expenses for a more secure retirement.
"When it comes to results for the customer, the Core Income 7 is a simplified FIA that offers increased income potential for retirement."
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