Allianz Life Insurance

Allianz is the largest insurance provider in the world. Formed in Berlin, Germany in 1890 the company has gone from strength to strength. The company started out by offering marine and accident policies in Germany. The business rapidly expanded and by 1893 they were able to afford to open their first international office in London.

In 1900 the company was the first in the world to hold a license which allowed it to distribute corporate policies. As a result, Allianz Insurance grew at such a pace that it was able to enter the US market by 1904. It had succeeded in entering the majority of major markets in Europe by the end of 1914.

It was in 1905 that Allianz Life Insurance began to different insurance policies with the introduction of both fire insurance and machinery breakdown insurance. By the end of 1920 it became the largest insurance company in Europe.

Throughout the 20th Century the company began to make a number of acquisitions that enabled it to strengthen its portfolio. Perhaps the biggest of its acquisitions was the purchase of AGF, based in Paris. It also opted to purchase a number of companies in Asia which allowed it to enter the market easily in this territory.

Further company expansions in the early part of the 21st Century further cemented Allianz’s status as the largest and the most popular of insurance companies in the world.

Allianz Life Cover Polices

Allianz is renowned throughout the world for the quality of life insurance policies that they offer.

They offer two main packages here:

  • GenDex Survivor: This policy allows two people to be included under a single payment plan and the benefit is a combination of cash value accumulation and guarantees. This policy is tailored to suit each individual. GenDex Survivor pays out upon the death of both policies holders. It is also able to provide cash opportunities for those who are insured if certain conditions have been met. The policy can be split into two should a marriage or other partnership dissolve.
  • Allianz Life Pro+: This package provides a tax-free death benefit upon the death of the policy holder. This benefit can be used to pay off debt, college expenses, and a whole host of other final expenses. This policy is suited for those who require life insurance but also wish to accumulate cash value should they require it in the future.  Optional riders will allow you to tailor your Allianz Life Pro+ package the way that you want.

Allianz Life Cover Benefits

Allianz Life Insurance offers a number of differing benefits to policy holders including:

  • Flexible payment plans with payments being made annually, semi-annually, quarterly, Monthly.
  • The ability to tailor your life insurance policy to suit your own individual needs. This includes the ability to select the ‘death benefit’ that is right for your needs.
  • Affordable; Starts are $25.00 per month with the cost rising slightly depending on health situation.
  • Cash value is guaranteed never to decrease based upon market conditions.
  • High rate of acceptance (see the following section)
  • The confidence that comes with knowing that your insurance policy is held with the largest insurance company in the world.
  • Chronic and Terminal Illness accelerated benefits.

Allianz Life Cover Eligibility

Allianz is famed for its high level of acceptance.

  • To purchase GenDex Survivor you have to be between 18-80. To purchase Allianz Life Pro+ you must be at least 80.
  • Risk groups are separated into ‘smoking’ and ‘non-smoking’.
  • Unable to qualify is currently going through terminal or chronic illness.

Allianz Income Protection

Allianz does not currently offer an income protection plan in any region. Those who wish for income protection may be wise to apply for either the life insurance plan or TPD insurance plan from Allianz.

Allianz Trauma Insurance

Alianaz also provides comprehensive trauma or critical illness insurance cover.

Allianz TPD Insurance

In some regions of operation Allianz offers TPD Insurance coverage. This policy is for those who find themselves unable to work as a result of a permanent disability or sickness.

TPD Insurance through Allianz can only be added to your life insurance policy. You can’t purchase it individually.

TPD Insurance will pay out a single lump sum upon a person discovering that they are unable to work as a result of permanent disability. These funds can be used for any purpose although they will generally be used to cover both medical bills as well as to help a person through the first few years of lost income.

Allianz TPD Insurance Benefits

  • Anybody over the age of 16 with a life insurance policy with Allianz is entitled to claim under the TPD benefit should they find they are unable to work permanently. This benefit will only apply should the relevant ‘add-on’ be selected for the policy.
  • Generous terms require you to only be out of work for three consecutive months before it being determined that you are unlikely to return to work at all.
  • Generous payouts at any age with full income for a few years normally being covered.
  • TPD Insurance through Allianz increases payouts each year in order to keep up to date with inflation. This means that your policy will always be worth the same amount of money no matter when you apply for a payout.
  • Guaranteed renewal once accepted up until the 65th birthday of the applicant.

Allianz TPD Insurance Eligibility

In order to qualify for a payout under the Allianz TPD Insurance Policy you need to meet the following requirements:

  • Over the age of 18 at the time of taking out the policy. The TPD policy MUST be part of an insurance policy that you hold with Allianz.
  • Payouts made in the event that you are unable to work permanently as a result of disability or sickness. You must have been unable to work for at least three months prior to the application in order to qualify. Loss of limbs, loss of sight, and loss of hearing are included under the TPD Insurance Policy.

Allianz Funeral Insurance

Funerals can be remarkably costly wherever you are. This is why Allianz has introduced a number of affordable funeral insurance plans in a number of the territories that they operate within.
Funeral insurance from Allianz has been designed to provide financial assistance for funerals. There are two policies available here. The first is simply ‘burial insurance’ and is suitable for those who will be applying for insurance at a late stage of their life. The company also includes burial insurance as standard on their life insurance policies.

Allianz Funeral Insurance Benefits

There are a number of different benefits associated with purchasing Allianz Funeral Insurance. These include:

  • The ability to apply for funeral insurance at just about any age. Premiums will be higher the older you apply for the insurance policy.
  • Speedy payouts upon death. This includes having just burial insurance as well as through the life insurance policy. With the latter a rather substantial payout can be made to cover burial expenses whilst the rest of the policy is waiting to be paid out.

Allianz Funeral Insurance Eligibility

Qualification for Allianz Funeral Insurance is surprisingly lax. You can apply for funeral insurance policy at any age. Death from illness will normally be covered after the 1st year. A funeral for accidental death will be covered from the second that you take out your policy.

Allianz FAQ

At what age are you ineligible to apply for life insurance through Allianz?

Allianz is one of only a few companies out there which has a range of life insurance policies on offer. For the most ‘full-featured’ insurance policy you will have to be aged between 18 and 80. They also offer a dedicated insurance policy for those over the age of 80.

Do Life Insurance Policies Offer an Early Payout?

This depends on the life insurance policy that you apply for from Allianz. Most policies of theirs will offer an early cash settlement in the event of terminal or chronic illness.

Will I have to undergo a health check for life insurance polices through Allianz?

No; you will not have to undergo a health check for any of the policies currently offered by Allianz. However it is important that you are as honest as possible about current health on your application form. If it is discovered that you have lied on your form then your life insurance will be rescinded.

What is the speed of payout on the Allianz Funeral Insurance Policy?

Allianz will aim to get the cash to your family within a couple of days of death. This will ensure that they have the cash that they need at their disposal to assist with funeral expenses.

Is my money safe with Allianz?

Yes; this is the largest insurance company in the world. Your payments are safe with Allianz.

 

 

 

 

 

 

 

 

 

 

 

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Income Protection  Life Insurance