Allianz Life Insurance Review

Due to its focus on retirement and income planning, Allianz may be a viable option for those seeking life insurance with an investment component. Due to the insurer’s limited product selection, it may not be appropriate for all customers. This Allianz Life Insurance Review may be of great use to you in alleviating your concerns about the policy.

Allianz Details

Allianz Life Insurance Review - Allianz Insurance Company Logo
  • Policies. Term, Universal
  • Coverage maximum. $65,000,000
  • Term lengths. 10, 15, 20, 25, or 30 years
  • Available states. Not available in NY
  • Issue age. Not Mentioned

Pros and Cons of Allianz Life Insurance

Pros

  • Extremely high face values
  • Collection of riders
  • Calculator for financial fortitude in life insurance promotions

Cons

  • There is no way to apply for this position online.
  • Only a small number of items are available.
  • A small period of time during which the client can receive service
  • Term policies aren’t offered in New York.

Allianz life insurance rates

The cost of insurance premiums varies from state to state, product to product, rate class to rate class. Universal life insurance will never cost less than $25 per month or $300 per year, according to Allianz. Young, healthy nonsmokers can get the best deals since they are not exposed to the health risks of smoking. Contact an Allianz salesperson or use the Life Insurance Calculator on the site to figure out your premiums.

How to get a quote from Allianz life insurance?

Contacting an agent is the only way to acquire insurance.

  1. Phone. Call 800-950-5872 weekdays from 8 a.m. to 5 p.m. CT.
  2. Email. Send a secure message using our Contact Us page. Check the ‘I desire to purchase Allianz goods’ box when sending an email to guarantee it goes to the correct department.

What happens next?

An agent will be assigned to your application. They’ll usually get back to you about the next steps within two business days.

What types of life insurance coverage does Allianz offer?

Life insurance from Allianz reflects the company’s focus on retirement and income planning. Instead of selling products directly, it uses brokers around the country to provide term and universal life insurance.

Term life

A life insurance policy called Term Pro+ is issued by Banner Life Insurance Company, which also underwrites it. You may get coverage for 10, 15, 20, 25, or 30 years with this policy. While the policy is active, rates will stay the same, and the insurance will continue to cover consumers until they are 95 years old.

Obtaining insurance coverage with a $5 million monetary face value is possible.

How long you can buy depends on your age and health status:

  • Between 20 and 65 years old, you can choose between a 10-, 15-, or 20-year plan.
  • 25-year plans are available to smokers and nonsmokers between the ages of 20 and 60.
  • Insurance plans are available for those aged 20 to 55 who smoke or don’t smoke.

When a term policy ends, you have three options: upgrade to a permanent coverage, buy another term, or let the policy lapse.. The coverage costs $60 a year, and Term Pro+ isn’t offered in New York.

Universal life

Each of the index-linked, cash-value building fixed universal life policies is offered in two different sizes.

  • Pro+ Elite Fixed Index Universal Life Insurance. A tax-free death benefit is available with this option, and certain index allocation choices also feature an interest incentive. As a consequence, you may be in a better position to build wealth faster. With enough cash value in your insurance, you can borrow against it and get the death benefit through the Chronic Illness Accelerated Death Benefit and Terminal Chronic Illness Accelerated Death Benefit Riders in the event you become sick.

With this coverage, you may also adjust your premium payments as necessary.

To be eligible for insurance, you must be under the age of 80. The death benefit ranges from $100,000 to $65 million.

  • Pro+ Survivor Fixed Index Universal Life Insurance. Pro+ Survivor Fixed Index Universal Life Insurance is similar to term life insurance in that it covers two lives, often spouses. When both policyholders have died, this policy will pay out a death benefit, but you may add on the First-to-Die Rider to include a death benefit for the first policyholder who passes away first.
    To be eligible for this policy, both of you must be between the ages of 30 and 80. You can receive as little or as much in death benefits as you like. The lowest amount is $200,000.

What riders can I add to my policy?

The following riders can be included to customize your insurance coverage:

  • Rider for faster payment of death benefit (included with base policy)
  • Rider who is under the age of 18
  • Rider with critical illness insurance
  • Premium-rider-returning customers
  • A rider who is also their spouse
  • Rider for long-term care insurance
  • Premium rider waiver

Allianz life insurance reviews and complaints

The Better Business Bureau has recognized and rated Allianz since 1972, demonstrating the company’s anticipated future capacity to pay claims. Reviewers have given Allianz low marks for customer satisfaction, but it’s important to understand that these scores apply to the company as a whole, not just to its annuities and retirement planning divisions only.

How does Allianz protect my data?

Personal information is encrypted end-to-end by Allianz. It also keeps an eye on customer accounts for any strange requests or transactions, and sends policyholders monthly statements to evaluate.

About Allianz

As the sixth biggest asset manager in the world, Allianz SE fully owns Allianz Life Insurance Company, a completely owned subsidiary. The German-based banking powerhouse serves 85 million customers globally from its headquarters.

For the past 120 years, Allianz has operated in the United States. Based in Minneapolis, it offers life insurance as well as retirement planning services. It’s well-known for taking a cautious, diversified approach to investing. As a result of this careful approach, rating agencies including A.M. Best, Moody’s, and Standard & Poor’s have consistently given the company high financial ratings.

Due to its focus on retirement and income planning, Allianz may be a viable option for those seeking life insurance with an investment component. Due to the insurer’s limited product selection, it may not be appropriate for all customers.

Allianz Contact Information

You can reach the customer service team by:

  • Phone. Call 800-950-5872 weekdays from 8 a.m. to 5 p.m. CT
  • Fax. Dial 763-582-6002
  • Email. Submit the form on the Contact Us page
  • Social media. Ask questions via Facebook or Twitter
  • Mail. Send regular mail to:

Allianz Life Insurance Company of North America
PO Box 1344
Minneapolis, MN 55416

You may check out our AIG Life Insurance Review for more options.