Allianz Life partners with Empower to offer lifetime income annuity

Allianz Life has partnered with Empower to make its Allianz Lifetime Income+® Annuity available on Empower’s retirement plan platform. This fixed index annuity provides guaranteed lifetime income, market protection, and flexibility for participants to adjust income strategies and access cash value.

The annuity will be available to over 80,000 retirement plans and 18 million Empower customers, offering a modern solution for creating sustainable retirement income tailored to individual needs.

“This partnership aligns with our shared vision of increasing access to guaranteed lifetime income and it will allow participants to have a wider range of options to build and protect their future income.” – Matt Gray, head of employer markets, Allianz Life.

“Americans are living longer than ever before, therefore it is imperative to provide a diverse range of options to help them create a sustainable income stream that aligns with their desired lifestyle. The expansion of our product suite to include Allianz Lifetime Income+^® emphasizes the importance of choice for both employers and participants.” – Tina Wilson, chief product officer for Empower.