A Second Structured Annuity Offers Income
August 27, 2019 by Kerry Pechter
CUNA Mutual Group invades Allianz Life airspace by launching ‘Zone Income Annuity.’ It’s the only structured index annuity besides Allianz Life’s Index Advantage Income to offer a lifetime income option. The two contracts differ in small but significant ways.
The number of life insurers offering a variable or “structured” index annuity with a lifetime income benefit has suddenly doubled. CUNA Mutual Group’s new Zone Income Annuity has joined Allianz Life’s Index Advantage Income contract, raising the number of products in this micro-niche to two.