Allianz Life Insurance Review [2024]
Allianz provides life insurance for North American customers through its office in Minneapolis, Minnesota. Customers can find affordable Allianz life insurance, but the company offers limited coverage options. However, Allianz does have several riders that allow customers to customize a policy. Learning more about Allianz Life will help you determine if it’s a good option for your needs.
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Brad Larson
Licensed Insurance Agent
Brad Larson has been in the insurance industry for over 16 years. He specializes in helping clients navigate the claims process, with a particular emphasis on coverage analysis. He received his bachelor’s degree from the University of Utah in Political Science. He also holds an Associate in Claims (AIC) and Associate in General Insurance (AINS) designations, as well as a Utah Property and Casual...
Licensed Insurance Agent
UPDATED: Sep 19, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Sep 19, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Allianz only provides term life and indexed universal life insurance
- Allianz offers several riders to customize a policy
- Allianz has been rated an A+ by A.M. Best
Allianz provides term and permanent life insurance to customers in North America. The company has limited coverage options but provides several riders. Additionally, Allianz has been rated an A+ by A.M. Best.
Knowing more about Allianz Life will help you determine if the company is a good fit.
Before starting this Allianz Life review, enter your ZIP code to get free life insurance quotes in your area.
What are the Allianz Life average monthly rates?
The cost of coverage is a common concern among life insurance customers. Allianz Life provides term life coverage through Life and General America. Term life plans are cheaper than permanent life policies but last for a shorter time.
The following chart shows the average monthly Allianz Life insurance rates by age for a term life policy.
Allianz Life Insurance TermPro+ Average Monthly Rates by Age
| Age | Average Monthly Rates |
|---|---|
| 20 | $25.09 |
| 30 | $28.58 |
| 40 | $56.51 |
| 50 | $139.17 |
| 60 | $476.87 |
As you can see, you can find affordable Allianz Life insurance for young customers. However, rates increase significantly as policyholders age.
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What coverages are offered by Allianz Life?
Allianz Life only offers term life and fixed indexed universal life insurance. However, as mentioned above, the term life plan is provided through Legal and General America. So the company only offers customers fixed indexed universal coverage directly.
The company’s term life plan is TermPro+ and is available in 10, 15, 20, 25, and 30-year terms. These plans are renewable until the age of 95 but can be converted to a permanent policy when a term ends.
Term life coverage is available from Allianz Life for customers between 20 and 65 years of age. Additionally, coverage ranges from $100,000 to $5 million.
Allianz Life’s fixed indexed universal policy, Pro+ Advantage, is the only permanent life plan available. Since it’s the only policy sold directly by the company, it’s the only option you’ll find on the Allianz Life website.
As a fixed indexed universal life policy, the Pro+ Advantage plan builds a cash value with a fixed interest rate, set at the beginning of the year. The policy also offers an index lock that prevents losing the 0% interest rate.
This plan is available to applicants up to 80 years old and ranges in value from $100,000 to $65 million. After the first policy year, customers can choose one of three following death benefits.
- Level death benefit: The payout remains the same.
- Increasing death benefit: The death benefit increases each year.
- Return of premium: Adds additional funds equal to the amount you pay into the policy.
The increasing death benefit and return of premium life insurance depends on stock indexes. As a result, the customer won’t know the exact amount from year-to-year. Conversely, a level death benefit guarantees the amount a payout provides.
In addition to life insurance, Allianz also offers annuities, which can pay for retirement and provide a death benefit. There are three Allianz annuity plans, including:
- Fixed index annuities
- Variable annuities
- Index variable annuities
Like life insurance policies, the value of these plans depends on popular stock indexes.
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Does Allianz Life offer riders?
While Allianz offers fewer coverage options than most competitors, they make up for it with various optional coverages. Customers can add these options, called riders, to their policy for a fee. The following table shows the riders offered by Allianz Life.
Allianz Life Riders
| Rider | Rider Coverage |
|---|---|
| Child term rider | Adds term coverage of between $5,000 and $10,000 to your policy for children between 15 days old and 21 years old. |
| Enhanced liquidity rider | Waives part of the surrender chargers for the policy if you decide to access your cash value or cancel your policy. |
| Loan protection rider | Protects against a lapse in coverage due to a policy loan. Customers between 75 and 120 can use it after the policy is in force for at least 15 years. |
| Premium deposit fund rider | Deposits a lump sum that allows you to pay multiple years of premiums at a discounted rate. |
| Supplemental term rider | Allows you to get an extra term up to 10 times the base death benefit of your policy until age 75. |
| Waiver of new charges benefit | Waives surrender charges, expense charges, and enhanced liquidity rider charges if the fees increase after the 11th year. |
| Waiver of specified premium rider | Waives your premium if you become disabled. |
| Other insured term rider | You can get term coverage for up to four people, and coverage is in effect until age 100. |
| Chronic illness accelerated death benefit rider | You can access your death benefit before death if you become chronically ill or cognitively impaired. |
| Terminal illness accelerated death benefit | You can access up to $1 million of your death benefit before death if you become terminally ill with 12 months to live. |
The Allianz Life Insurance Company offers more riders than most competitors. However, adding these riders will increase your Allianz Life insurance quotes.
How is Allianz Life rated?
Credit rating agencies review insurance companies and rate them on financial strength. The rating determines the company’s ability to provide a payout when customers file a claim.
Allianz insurance has been rated an A+ by A.M. Best, an AA by S&P, and an A1 by Moody’s. The A.M. Best rating is the second-highest, the S&P rating is the third-highest, and the Moody’s rating is the fifth-highest provided by the agencies.
The Better Business Bureau (BBB) rates companies based on their business practices. Allianz has received an A+ rating from the BBB, indicating that the company is transparent and trustworthy when dealing with customers.
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Does Allianz Life have any complaints?
The Better Business Bureau (BBB) and the National Association of Insurance Commissioners (NAIC) review complaints made about insurance companies. These reviews allow customers to determine the quality of service they’ll receive. (For more information, read our “How to File a Complaint Against a Life Insurance Company“).
At the time of this review, the BBB has received 35 complaints about the Allianz insurance company during the last three years. The majority of these complaints have been about the company’s products or services.
According to the NAIC, customers have made 73 complaints about Allianz Life. The company’s complaint index ratio is 0.33, indicating that Allianz has far fewer complaints than the average company of a similar size.
How can you file Allianz Life claims?
Customers that buy Allianz life insurance can file claims online or by phone. The easiest way to file a claim is to fill out a claims form on the company’s website. This online tool allows customers to file a claim at any time of day.
For those that prefer to speak with a representative, the company has a toll-free line available Monday through Thursday from 7 a.m. to 6 p.m and from 7 a.m. to 5 p.m. on Friday. Customers can reach the claims line by calling 1-800-950-1963.
The company’s website says it aims to process all claims within 10 days of filing. However, since every claim is different, claim times can vary.
How can you cancel an Allianz Life policy?
Allianz doesn’t provide its cancellation process on its website, but customers can cancel a policy by calling the customer service line at 1-800-950-5872. Representatives are available Monday through Friday from 8 a.m. to 5 p.m. (CST).
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What are the pros and cons of Allianz Life?
Every company has pros and cons that potential customers should consider. Knowing the positives and negatives of Allianz Life will help you determine if it’s the right choice.
On the positive side, Allianz Life is financially solid, has high coverage limits, and offers several riders. These aspects allow customers to customize their policies, receive the coverage they desire, and ensure they’ll receive a payout when they file claims.
However, Allianz Life has fewer coverage options than most competitors. Additionally, the only way to purchase coverage is through an agent, which can be more time-consuming and less convenient for some customers.
Who is Allianz Life?
Allianz began in Munich, Germany, in 1890. Today the company is based in Berlin, Germany, and provides coverage to more than 100 million customers worldwide.
The Allianz Life Insurance Company of North America began in 1993 by merging North American Life and Casualty and the Fidelity Union Life Insurance Company. The headquarters of Allianz’s North American branch is in Minneapolis, Minnesota.
Allianz Life: The Bottom Line
Allianz is a large multinational corporation providing life insurance to customers throughout North America. While the company has limited types of coverage, they offer several riders to make up for the lack of options.
Learning more about Allianz Life will help you decide if it’s the right company for you.
Now that you know about Allianz Life, enter your ZIP code to find free life insurance rates in your area.
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Comprehensive Guide to Allianz and Alliance Insurance Services
When exploring your insurance options, it’s essential to consider various aspects such as an Allianz car insurance quote, which provides competitive rates tailored to your needs. Reading an Allianz car insurance review can offer insights into customer satisfaction and coverage effectiveness.
For those interested in annuities, obtaining an Allianz fixed annuity claim form is crucial for managing claims efficiently. Additionally, Allianz fixed index annuity reviews highlight the performance and benefits of these financial products, helping you make informed decisions about your investment and insurance needs.
Understanding Allianz PNB Life and Alliance Insurance
Allianz PNB Life and Alliance Insurance offer a range of insurance and investment solutions to cater to diverse needs. Here’s a detailed overview of their services and reviews.
Allianz PNB Life and Allianz Life Insurance
Allianz PNB Life
- Overview: Allianz PNB Life is a joint venture between Allianz SE and the Philippine National Bank (PNB), providing life insurance products in the Philippines.
- Key Features:
- Various life insurance products
- Investment-linked plans
- Comprehensive coverage options
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Allianz Life Insurance Company of North America Reviews
- Customer Feedback: Generally positive, highlighting strong customer service and comprehensive policies.
- Notable Points: Some complaints about claim processing times and customer service issues.
Allianz Life Pro+ Advantage Review
- Policy Benefits:
- Indexed Universal Life (IUL) insurance
- Flexible premium payments
- Cash value accumulation based on market index performance
Reviews and Ratings
Allianz IUL Review
- Key Takeaways:
- Competitive interest crediting
- Flexible death benefits
- Some concerns about complexity and fees
Allianz A.M. Best Rating
- Rating: A+ (Superior)
- Significance: Indicates strong financial stability and reliability in fulfilling policyholder obligations.
Allianz Insurance Review
- Overall Impression: Positive reviews for comprehensive coverage and innovative products.
- Areas for Improvement: Customer service and claim processing efficiency.
Allianz Annuities and Term Life Insurance
Allianz Annuities Reviews
- Pros:
- Variety of annuity options
- Competitive interest rates
- Strong financial backing
- Cons: Some complaints about the complexity of products and customer service.
Allianz Annuities Complaints
- Common Issues:
- Complexity of product terms
- Customer service responsiveness
- Fees and charges
Allianz Annuity Rating
- Overall Rating: High ratings for product offerings and financial stability.
Allianz Annuity Customer Service
- Customer Experience: Mixed reviews, with positive feedback on product information and negative feedback on service efficiency.
Allianz Term Life Insurance
- Features:
- Fixed premium payments
- Flexible term lengths
- Convertible to permanent life insurance
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Allianz and Alliance Insurance Products
Life Insurance from Allianz
- Product Range:
- Term life insurance
- Whole life insurance
- Indexed universal life insurance
Allianz Life Insurance Phone Number
- Contact Information: For inquiries and customer service, policyholders can reach Allianz at their dedicated phone number.
Allianz Life Insurance UK
- Offerings: Comprehensive life insurance solutions tailored for the UK market.
Alliance Insurance Company and Services
Alliance Insurance Company
- Overview: Provides a wide range of insurance products including life, health, and auto insurance.
- Notable Products:
- Alliance Car Insurance Quote
- Alliance Life Insurance Company policies
Alliance Insurance Reviews
- Customer Feedback: Mixed reviews with praise for policy options and criticism for customer service.
Investment and Financial Reviews
PNB Allianz Investment Review
- Investment Options:
- Mutual funds
- Variable universal life insurance
- Unit-linked insurance plans
- Customer Experience: Generally positive, with high satisfaction in investment performance and portfolio management.
AA Life Insurance Review
- Overview: AA Life Insurance offers a range of life insurance products with competitive premiums and flexible options.
- Customer Feedback: Positive reviews for affordable rates and comprehensive coverage.
Aflac Life Insurance Reviews
- Customer Experience: Mixed reviews, with customers appreciating the variety of policies but noting issues with claim processing.
Allianz and Alliance Insurance offer a wide array of products tailored to meet the diverse needs of their clients. Whether you’re looking for life insurance, annuities, or investment solutions, these companies provide robust options backed by strong financial ratings and customer feedback. Understanding the nuances of their offerings and customer experiences can help you make informed decisions about your insurance and investment needs.
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Comprehensive Review of Allianz Insurance Products and Services
When considering Allianz insurance products, it’s essential to evaluate various aspects, from life insurance to annuities and home insurance. This comprehensive review covers Allianz Life Insurance Company of North America, Allianz Home Insurance, and more, providing a well-rounded view of what Allianz offers.
Allianz Life Insurance Overview
Allianz Life Insurance offers a range of products tailored to different needs. The company’s various offerings are designed to provide flexible coverage options and investment opportunities.
Allianz Life Insurance Co. of North America
Allianz Life Insurance Co. of North America provides term and permanent life insurance policies. This section covers their major products and features:
- Allianz Life Pro Advantage: A fixed indexed universal life insurance policy that allows for customization through optional riders.
- Allianz Life in Minneapolis: The headquarters for Allianz Life in North America, serving as a hub for operations and customer service.
Allianz Life Insurance Company of New York
Allianz Life Insurance Company of New York offers similar products tailored to the needs of residents in New York. This branch provides competitive life insurance options with robust customer support.
Allianz Annuities and Investment Products
Annuities and investment products play a significant role in Allianz’s offerings. Here’s an overview of their key annuity products and customer feedback.
Allianz Life Annuities
- Allianz Index Annuity Reviews: Customers and experts often review Allianz’s index annuities for their performance and benefits. These reviews highlight the potential for returns linked to stock market indices while providing certain guarantees.
- Allianz Variable Annuity Customer Service: Feedback on customer service for variable annuities is crucial, as it reflects the support provided to policyholders managing their investments.
Allianz Saving Plan (6 Years)
- This plan is designed for those seeking medium-term savings with potential growth opportunities. Reviews typically focus on returns, flexibility, and terms.
Allianz Home Insurance Review
Allianz also provides home insurance, which is crucial for comprehensive coverage.
- Allianz Home Insurance Review: Evaluates the coverage options, customer satisfaction, and overall effectiveness of Allianz’s home insurance products.
Allianz Insurance Quotes and Ratings
Understanding Allianz’s market standing through insurance quotes and ratings helps in making informed decisions.
Allianz Insurance Rating
- Allianz Insurance Rating: This section discusses the ratings given by various credit agencies and their implications for customer trust and financial stability.
- Allianz Life Insurance Company Rating: Specific ratings for Allianz Life Insurance Company provide insight into its financial health and reliability.
Related Insurance Products
To broaden the perspective, here’s a brief look at related insurance options and reviews.
Bajaj Allianz Life Insurance Review
- Provides insight into Allianz’s international offerings, particularly in partnership with Bajaj Allianz.
Legal and General America Life Insurance Reviews
- Compares Allianz’s products with those of Legal and General America, highlighting differences and similarities in terms of coverage and customer satisfaction.
Provide Insurance Review
- An overview of how Allianz’s life and annuity products stack up against other insurance providers in the market.
Allianz Long Term Care Insurance Reviews
Long-term care insurance is another vital aspect of Allianz’s portfolio.
- Allianz Long Term Care Insurance Reviews: These reviews focus on the features, coverage, and customer feedback related to long-term care policies offered by Allianz.
Understanding Allianz Life Insurance Policy
When exploring Allianz Life Insurance, it’s essential to grasp the specifics of their offerings. The Allianz life company provides a range of insurance policies designed to meet various needs. Among their products, the Allianz life insurance policy stands out for its flexible coverage options and investment opportunities. Whether you’re looking for term life, whole life, or universal life insurance, Allianz Life Insurance Policies are crafted to offer comprehensive protection and financial security.
Frequently Asked Questions
Is Allianz life insurance good?
Allianz Life Insurance is generally well-regarded, with strong financial ratings and a variety of coverage options. The company is known for its solid financial stability and customer service, offering policies like term life and fixed indexed universal life insurance. However, the limited range of coverage options might not suit everyone.
Is Alliance insurance good?
Alliance Insurance is a general term and could refer to various insurance companies. It is essential to research the specific company you’re referring to, as different “Alliance” insurance providers may have different ratings and reviews. Make sure to check their financial stability, customer service, and coverage options.
Is Allianz a good company?
Yes, Allianz is considered a good company. It has strong financial ratings from agencies like A.M. Best, S&P, and Moody’s, indicating its reliability and stability. Allianz Life Insurance Company of North America is praised for its comprehensive policies and strong customer service.
Is Allianz car insurance good?
The review of Allianz Car Insurance is not directly mentioned in the provided article. For an accurate assessment, you should review customer feedback and compare Allianz’s car insurance offerings with those of other insurers to determine if it meets your needs.
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Brad Larson
Licensed Insurance Agent
Brad Larson has been in the insurance industry for over 16 years. He specializes in helping clients navigate the claims process, with a particular emphasis on coverage analysis. He received his bachelor’s degree from the University of Utah in Political Science. He also holds an Associate in Claims (AIC) and Associate in General Insurance (AINS) designations, as well as a Utah Property and Casual...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
