Allianz Life Introduces Index Advantage+ Select Income™ Annuity to Offer Greater Flexibility in Retirement Income Planning
Reimagining Retirement Income with a Flexible Registered Index-Linked Annuity
Retirement planning has become increasingly complex as individuals face longer lifespans, volatile markets, and evolving financial goals. In response to these challenges, Allianz Life Insurance Company of North America (Allianz Life) has introduced a new registered index-linked annuity (RILA) designed to give retirees more flexibility and control over their lifetime income strategies. The newly launched Index Advantage+ Select Income™ Annuity builds on the company’s long history of innovation in the annuity market while addressing a key concern among today’s retirees—the ability to adjust financial strategies as life circumstances change. This product is intended to provide a strong foundation for retirement income while allowing contractholders to adapt their investment and income strategies over time. The introduction of this annuity reflects a broader trend within the retirement industry, where financial products are increasingly designed to combine growth potential, risk management, and flexible income features. By offering these capabilities within a single solution, Allianz Life aims to help retirees maintain confidence in their financial future even as economic conditions and personal needs evolve. The product’s structure enables individuals to participate in market-linked growth opportunities while maintaining protections that are often sought by those approaching or already in retirement. According to the company, the Index Advantage+ Select Income™ Annuity was created to align with the dynamic nature of retirement planning. Instead of assuming that retirement goals remain static, the product recognizes that retirees may experience changes in lifestyle, spending patterns, or risk tolerance. Whether someone chooses to retire earlier than expected, pursue additional income opportunities, or adjust their investment approach, the annuity is designed to offer the flexibility needed to adapt without sacrificing long-term financial stability.
Dynamic Lifetime Income Options Designed for Changing Needs
One of the defining features of the Index Advantage+ Select Income™ Annuity is the inclusion of the Income Benefit rider II, which is automatically built into the contract. This rider introduces a Dynamic Income option, allowing clients to activate their lifetime income stream at a time that aligns with their personal financial goals. With this feature, contractholders can begin receiving income payments after reaching age 50 and completing a one-index-year waiting period. The ability to choose when to start income provides an important degree of flexibility for retirees who may not follow a traditional retirement timeline. In addition to determining the timing of income activation, clients also gain the ability to reallocate among all available one-year term index options even after income payments have begun. This capability distinguishes the product from many traditional annuities, which often lock investors into fixed allocations once the income phase starts. By allowing continued adjustments, the annuity enables retirees to adapt their investment strategy as market conditions shift or as their personal risk tolerance evolves. Corey Walther, president of Allianz Life Financial Services LLC, emphasized the importance of adaptability when discussing the product’s design. He explained that retirement goals are rarely static and that individuals may find themselves adjusting plans over time. Some retirees may choose to pursue more aggressive investment allocations to enhance growth potential, while others may shift toward more conservative strategies as they age. The Index Advantage+ Select Income™ Annuity was built with this reality in mind, offering a framework that supports both flexibility and long-term income security. The product’s Dynamic Income approach also allows individuals to adjust how they pursue income potential without needing to replace their annuity contract. Instead of purchasing a new product to change their strategy, retirees can make adjustments within the existing structure. This feature can simplify retirement planning while helping clients remain aligned with their evolving financial objectives.
Aligning Risk Tolerance with Income Potential in Retirement
Another key aspect of the Index Advantage+ Select Income™ Annuity is its ability to accommodate a range of risk profiles. Retirement investors often face the challenge of balancing growth opportunities with the need to preserve capital. Some retirees prefer aggressive allocations that provide greater exposure to market-linked returns, while others prioritize stability and protection. The annuity addresses this challenge by offering multiple allocation options designed to support aggressive, moderate, or conservative investment approaches. By providing this range of choices, Allianz Life enables contractholders to align their income strategies with their individual comfort levels and long-term financial objectives. Importantly, this alignment can continue even after income payments have begun, allowing retirees to adjust their risk exposure over time. For example, an individual who initially selects a moderate allocation strategy might later transition to a more conservative approach as they move further into retirement. Conversely, someone who starts with a conservative allocation could shift toward a more growth-oriented strategy if they seek higher income potential. This flexibility is particularly relevant in the context of changing market environments. Economic cycles, inflation trends, and shifts in interest rates can all influence the effectiveness of different investment strategies. The ability to adjust allocations in response to these factors may help retirees maintain financial resilience while continuing to pursue their retirement goals. The product’s design also reflects growing consumer demand for continued market participation during retirement. Rather than withdrawing completely from market-linked investments, many retirees now seek strategies that allow them to remain invested while managing downside risk. Registered index-linked annuities have become an increasingly popular solution for this purpose because they combine elements of traditional annuities with market-linked return potential. With Index Advantage+ Select Income™, Allianz Life aims to provide a structure that supports both income stability and growth opportunities throughout retirement.
Research Highlights Growing Demand for Flexible Retirement Solutions
Consumer attitudes toward retirement investing have shifted significantly in recent years, and research conducted by the Allianz Center for the Future of Retirement highlights why products like the Index Advantage+ Select Income™ Annuity are gaining attention. According to the organization’s Q4 2025 Quarterly Market Perceptions Study, a large majority of Americans are concerned about running out of money during retirement. The survey, conducted in November 2025 with a nationally representative sample of 1,005 respondents aged 18 and older across the contiguous United States, revealed that 64 percent of participants worry that being too conservative with their investments after retirement could leave them without sufficient funds to last their lifetime. This finding reflects a broader dilemma facing retirees today. While conservative strategies can help protect assets from market volatility, they may also limit growth potential, especially in a low-interest-rate environment. As a result, retirees often struggle to strike the right balance between preserving wealth and generating enough income to support decades of retirement. The study also found strong interest in products that allow for continued adjustments after retirement income begins. Approximately 75 percent of respondents indicated that they would be interested in a retirement product that enables them to modify their investment risk level after starting income, with the goal of potentially increasing their income over time. This demand for flexibility underscores why dynamic annuity solutions are becoming more relevant in modern retirement planning. By allowing investors to adapt their strategies as circumstances change, these products help address the uncertainty that many retirees face. Allianz Life’s new annuity was designed with these insights in mind, aiming to provide a solution that supports both financial security and strategic adaptability. Through ongoing research and product innovation, the Allianz Center for the Future of Retirement continues to analyze how demographic trends, market conditions, and consumer attitudes are shaping the retirement landscape. These insights help inform the development of financial solutions that better align with the needs of today’s retirees.
Understanding Registered Index-Linked Annuities and Their Role in Retirement Planning
Registered index-linked annuities represent a hybrid approach to retirement investing, combining aspects of traditional fixed annuities with market-linked return opportunities. Unlike fixed annuities, which typically offer guaranteed interest rates, RILAs provide performance tied to specific market indexes. At the same time, they incorporate protection features designed to limit downside exposure. This structure allows investors to participate in market growth while maintaining a defined level of protection against losses. However, it is important to note that RILAs are subject to investment risk, including the potential loss of principal. Market fluctuations can affect the contract’s value, meaning that the amount received upon distribution may be greater or less than the original investment. Despite this risk, many investors view RILAs as an attractive option because they offer tax-deferred growth potential and multiple annuity payment options. During the accumulation phase, RILAs may also provide a death benefit to beneficiaries, adding another layer of financial planning capability. In the case of the Index Advantage+ Select Income™ Annuity, the product integrates these core RILA features with additional income flexibility through the Dynamic Income option. This combination is intended to help retirees pursue growth opportunities while maintaining access to lifetime income. Like all annuity products, guarantees associated with the contract are backed solely by the financial strength and claims-paying ability of the issuing insurance company. These guarantees do not apply to the performance of any market-linked investment options, which will fluctuate according to market conditions. Allianz Life encourages prospective clients to review the product’s prospectus carefully before making an investment decision. The prospectus outlines important details related to investment objectives, risks, fees, and expenses, as well as information about the available index options and any variable investment choices. Individuals interested in learning more about the annuity can consult a financial professional or contact Allianz Life Financial Services, LLC directly for additional information. The product is issued by Allianz Life Insurance Company of North America and distributed through its affiliate, Allianz Life Financial Services, LLC, a member of the Financial Industry Regulatory Authority (FINRA). As with many financial products, availability may vary depending on state regulations and broker-dealer policies, and certain features may differ across jurisdictions. Through the introduction of the Index Advantage+ Select Income™ Annuity, Allianz Life aims to address one of the most pressing concerns in retirement planning: how to generate reliable income while maintaining flexibility in an unpredictable financial landscape. By combining market-linked growth potential with adaptable income strategies, the product reflects the evolving expectations of retirees who want both security and the freedom to adjust their plans as life unfolds.
About Allianz Life Insurance Company of North America
Allianz Life Insurance Company of North America (Allianz Life), one of the Ethisphere World’s Most Ethical Companies®, has been trusted since 1896 to help millions of Americans prepare for financial uncertainties and retirement with a variety of innovative risk management solutions. In 2024, Allianz Life provided additional value to its policyholders via distributions of more than $18.6 billion. Allianz Life is a leading provider of fixed index annuities, registered index-linked annuities, and indexed universal life insurance. Additionally, Allianz Investment Management LLC (AllianzIM), a registered investment adviser and wholly owned subsidiary of Allianz Life, offers a suite of exchange-traded funds (ETFs). Allianz Life and AllianzIM are part of Allianz SE, a global leader in the financial services industry with more than 157,000 employees in nearly 70 countries. Allianz Life is a proud sponsor of Allianz Field® in St. Paul, Minnesota, home of Major League Soccer’s Minnesota United.
