Allianz Life Launches RILA Rider to Protect Legacy and Income…

Event summary

Allianz Life introduced the Legacy+™ Income Benefit, a first-of-its-kind optional rider for registered index-linked annuities (RILAs) that guarantees a death benefit even if the contract value falls to $0 from income payments.
The Legacy+™ Income Benefit locks in a protected Legacy Value at 50% of the accumulated contract value when income payments start, ensuring a financial legacy for beneficiaries.
The rider is available on two Allianz Life RILAs: Index Advantage+ Select Income® Annuity and Income Advantage ADV® Annuity.
The Legacy+™ Income Benefit comes with additional fees: a total rider fee of 1.55% (0.85% for the Legacy+™ Benefit plus 0.70% for the income benefit rider).
According to the 2026 Annual Retirement Study, 56% of Americans prioritize leaving a financial legacy, up 18 percentage points from five years ago.

The big picture

Allianz Life's new Legacy+™ Income Benefit addresses a growing trend among retirees who prioritize leaving a financial legacy while securing lifetime income. This innovation positions Allianz Life as a leader in the RILA market, catering to the evolving needs of retirees concerned about both their financial security and the financial future of their beneficiaries. The product launch reflects broader industry shifts towards more flexible and protective retirement solutions.

What we're watching

Market Adoption: Whether the Legacy+™ Income Benefit will attract retirees seeking both lifetime income and legacy protection, given the additional fees.
Competitive Response: How competitors in the RILA market will react to Allianz Life's innovation, potentially leading to similar product offerings.
Regulatory Scrutiny: The level of regulatory attention the new rider may attract, particularly regarding fee structures and consumer protection.