The new paying RILA has a living benefit rider: the annuity moves

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What would you like to know

  • Allianz Life believes its new annuity is the only paying RILA with a lifetime withdrawal guarantee rider.
  • Buyers of a new North American Company annuity can use a rider to protect against one of four types of risk.
  • Lombard International purchases variable private placement annuities.

DPL Financial Partners and Allianz Life Insurance Company of North America have introduced what they believe to be a single annuity.

According to DPL, the new Allianz Index Advantage Income ADV variable annuity contract appears to be the only fee-based indexed annuity with a guaranteed lifetime withdrawal guarantee.

The income allowance rider is automatically included in the contract and cannot be deleted.

Allianz Life will charge a product fee based on the value of the contract. The product charge will be 0.25% of the contract value, and the income benefit rider will cost 0.7% of the contract value, according to DPL.

DPL is a company that operates an online marketplace for annuities. Allianz Life is now distributing the new annuity through the DPL platform for registered investment advisers, DPL said.

Other companies also have news on annuities.

North American Life and Health Insurance Company

North American Company for Life and Health Insurance – a subsidiary of Sammons Financial Group – joins Annexus to launch two annuity contracts.

Annexus is an annuity designer and distributor based in Scottsdale, Arizona.

One of the new annuities is North American Secure +. The other is the North American Secure Horizon Plus.

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