Allianz Vision Variable Annuity offered by Allianz

Introduction
Type of Product Variable Annuity
Product NameAllianz Vision Variable Annuity
Offered byAllianz
Company Info

Founded in 1896 and based i... read more

Contract and Purchasing
Minimum Premium Payment10000
Maximum Premium Payment1000000
Minimum Additional Premium Payment50
Maximum Age at Start of Contract80
Investments
Ability to Select Asset AllocationYes
Total Number of Investment Options54 [Find annuities with more investment options]
Fixed Account
Features and Benefits
Free WithdrawalsYes
Free Withdrawal Limit12
Waiver of Withdrawal ChargesAvailable
Guaranteed Death BenefitAvailable
Are Telephone Transactions AllowedYes
Fees and Expenses
Minimum Total Fees and Expenses1.94 [Find annuities with lower fees and expenses]
Maximum Total Fees and Expenses3.1 [Find annuities with lower fees and expenses]
Minimum Mortality and Expense Risk Charge "M&E Fee"1.4 [Find annuities with lower mortality and expense fees]
Maximum Mortality and Expense Risk Charge "M&E Fee"1.4 [Find annuities with lower mortality and expense fees]
Administrative Fee50.00 [Find annuities with lower administrative fees]
Contract Maintenance Fee0 [Find annuities with lower contract maintenance fees]
Early Withdrawal Charges / Surrender Fees
Minimum Investment Management Fee0.54 [Find annuities with lower investment management fees]
Maximum Investment Management Fee1.7 [Find annuities with lower investment management fees]
Sales Compensation
Maximum Commissions7 [Find annuities with lower commissions] [Find annuities with higher commissions]
Contact Information
Company OfferingAllianz
Company TypeInsurance Company
Phone Number800-950-5872
Websitewww.allianzlife.com
Talk to a Financial Advisor
Contact Information Connect with a Financial Advisor
Reviews and Ratings
Average Review

4.25/5 from 4 Reviews


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Product Ratings and Reviews

Rating:
5
Average: 5 (1 vote)

Annuity reviews would seem to naturally attract a lot more criticism than accolades.

How many people who bought an annuity are going to go online and rave about how well their annuity is performing?

On the other hand, there are loads of people who have strongly negative feelings about any type of annuity, regardless of whether they know anything about the products or have had any direct experience.

I can say that I have many clients who are extremely happy that they purchased the Allianz Vision variable annuity.

This is especially true for those people who bought the product with optional living benefit features before the onset of the financial crisis in 2008.

For these lucky people, the impact of the financial crisis was minor. Living benefits proved to be one of the best antidotes to the financial turmoil.

Also, these people were able to lock-in super attractive benefit features that are simply not available today.

I still recommend this product to many of my clients.

 

215 reads
Rating:
5
Average: 5 (1 vote)

Allianz is an easy target.

The company is one of the major players in the annuity market and they are active in the much maligned indexed annuity market.

The Vision variable annuity product is actually a pretty interesting and flexible product.

There is what is referred to as a cumulative withdrawal benefit that I think is available with some of the optional living benefits.

The cumulative withdrawal benefit sort of allows owners to save income for a rainy day.

If for any reason the contract owner decides to take less current income (maybe they don't need as much early in their retirement or while they still have some emplyment income), they can stash the difference between what they take and what they would have received into the cumulative withdrawal value.  

The accumulated funds can then be used at a future date when income needs may be higher.

219 reads
Rating:
3
Average: 3 (1 vote)

This is a pretty expensive variable annuity product.

Total fees and expenses can get up and around the 3.5 percent range.

How can a financial advisor justify 3.5 percent in fees year in and year out when interest rates and investment returns are so low?

That is such a high hurdle.  You may as well be investing in a hedge fund that charges 2 and 20.

Maybe Allianz is too accustomed to the indexed market where sales commissions are high and the products are not as transparent.

It seems that much of the variable annuity market is headed in the direction of lower fees.

Would be great of the Allianz VAs head in the same direction.

236 reads
Rating:
4
Average: 4 (1 vote)

Allianz is a leading insurance company and their strengths seem to be in the area of fixed and fixed indexed annuities.

The Allianz fixed indexed annuities have some of the highest sales in the industry, and much of the company's resources seem to be dedicated to distribution in this area.

Wondering if Allianz should stick to its knitting with the fixed and indexed markets.

The variable annuity offerings are competitive, but there is little that make the products stand-out relative to competitors such as Prudential and MetLife.

Maybe hard for a company to be strong in VA and indexed space at the same time since the products and the financial advisors who sell them are so different.

 

 

234 reads

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