Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Apr 9, 2021

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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.

The Facts of Life

  • Allianz has been in business for over 100 years in the United States but doesn’t have the name or brand recognition of many of the other life insurance companies in the nation
  • Allianz offers interesting life insurance policies called fixed index universal life insurance, a type of permanent life insurance with some twists that really help consumers
  • Allianz also offers more standard term life insurance policies as well

If you’re looking for life insurance, you might be interested to read through our Allianz life insurance review to get an understanding of the policies this insurance company offers.

Besides offering traditional term life insurance policies, Allianz also offers consumers a unique type of permanent life insurance called fixed index universal life insurance.

There are a lot of factors and concerns to consider when purchasing life insurance. The most important thing is that the people you want to protect are covered by your policy in the event of your death. Allianz has a lot of good life insurance policies to consider.

Take your time when choosing a life insurance provider. Read through all of the materials that you can, and compare Allianz life insurance quotes to those from other providers to make an informed choice.

Are you ready to buy Allianz life insurance? Enter your ZIP code above to compare affordable life insurance quotes from the top companies in your local area.

What types of life insurance policies does Allianz offer?

Allianz Life Insurance Company of North America specializes in offering permanent life insurance policies. In recent years, Allianz life insurance products have expanded to include term life insurance policies as well.

If you’re looking for term life insurance through the Allianz website you will have a hard time finding what you are looking for. Allianz sells its term life insurance policies through its partners at Legal and General.

Despite this oddity, the life insurance rates for Allianz ProTerm+ policies are very reasonable and affordable.

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Allianz is mostly known for selling its fixed index universal life insurance policies. Let’s learn more about them.

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What is a fixed index universal life insurance policy?

Allianz has its own special type of indexed universal life insurance. They have branded their offering as Life Pro+ Advantage. We know it may be confusing to understand all of the terms we are throwing around, so we’ll break down this insurance offering in small chunks so it is easy to understand.

First and foremost, this insurance policy offers a death benefit for the duration of your policy. Typically, this benefit will last for the rest of your life as long as you make all of your monthly premium payments. This differs from term life insurance which expires at the end of a set term.

In almost all cases, the death benefit your beneficiaries receive will be income-tax-free. The people you love will get everything you intended for them not an after-tax amount.

What makes Allianz different?

Allianz’s fixed income universal life insurance is different than most in a few key ways.

Pay Your Premiums When You Like

Most insurance companies have set due dates for insurance premiums. If you don’t pay on time, you risk losing your life insurance policy. Allianz is different in this respect.

As long as your life insurance policy is properly funded, you can pay your premiums as you like and at the amount you want. This gives you the flexibility to address other concerns or cover unexpected expenses.

As we have seen during the ongoing COVID-19 pandemic, having financial flexibility is a huge benefit when you don’t know what life is going to throw at you next.

Your Policy Accumulation Value Grows Tax-Deferred

Allianz gives you the choice to earn interest on your life insurance policy in two ways at a fixed predictable rate, or based on the positive gains of an external market index.

Don’t worry if you choose indexed rates based on external markets; your accumulated value will not dip due to market fluctuations since you are not actually participating in the markets.

With multiple interest-earning options, Allianz gives its life insurance customers multiple ways to grow the value of their policy. Plus, your interest rate gets locked in and you will not be taxed on any of your gains until you withdraw money from your policy. This allows your money to grow faster.

Customize Your Policy to Meet Your Needs

Allianz allows you to customize your life insurance policy to match your needs. It could add additional costs to your premiums. Examples of the different customizations you can make to your policy include:

  • chronic illness benefits
  • premium payment waivers
  • additional term life insurance coverage

Allianz helps you take control of your life insurance policy and tailor it to fit your needs and lifestyle.

Is Allianz life insurance available near me?

Yes, Allianz life insurance policies are available in all 50 states. If you’re interested in buying an Allianz life insurance policy you can reach out to them through their website or contact a local life insurance agent.

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Are people happy with Allianz life insurance coverage?

According to the most recent data collected by the NAIC, there were less than 100 complaints about Allianz and its life insurance service and offerings in the year 2019 (the most recent data).

This figure bodes well for customer satisfaction when you consider the number of people who are covered by Allianz. If you’re interested in reading more customer reviews of Allianz, you can find online reviews on a number of different websites.

Additionally, the company has very strong financial ratings from the top reviewers like A.M Best and S&P. This indicates a very positive and strong financial future.

Allianz Life Insurance Review: The Bottom Line

Allianz doesn’t have a wide array of life insurance products, but their fixed index universal life insurance policies do offer consumers a lot of flexibility and options.

Before you buy Allianz life insurance, enter your ZIP code below to compare cheap life insurance rates from other top companies in your local area.