Allianz Life Insurance Review (2024)
Allianz life insurance is one of the best life insurance companies that provide fixed index universal life insurance, but it also includes term life insurance through subsidiaries like Banner. Allianz Life Insurance Company of North America has an "A+" A.M. Best rating and a presence in all 50 states. Compare and shop around to secure affordable Allianz life insurance.
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Schimri Yoyo
Licensed Agent & Financial Advisor
Schimri Yoyo is a financial advisor with active life and health insurance licenses in seven states and over 20 years of experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity. Schimri is an educator eager to assist individuals and families in ...
Licensed Agent & Financial Advisor
UPDATED: Dec 8, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
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.
UPDATED: Dec 8, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Fixed index universal life insurance is the life insurance at Allianz Life Insurance Company
- Your life insurance rates depend on factors such as age, gender, and policy limit
- Despite Allianz Life’s limited coverage options, it has a superior AM Best rating
Allianz Life Insurance Company of North America is available in all 50 states, and it has annuity and life insurance connections worldwide as part of the Allianz SE company (one of the largest companies in the world). However, Allianz Life has limited life insurance options.
So why is life insurance so expensive at Allianz? And is there a way to get cheap Allianz life insurance rates?
Don’t worry – we’re here to help. This short guide explains everything you need to know about Allianz life insurance quotes, available life insurance products, and Allianz life insurance third-party ratings.
Continue reading to learn more about affordable Allianz life insurance. Once you understand how Allianz life insurance works, enter your ZIP code in the free comparison tool to compare multiple insurance companies near you.
What kinds of life insurance products are available with Allianz Life?
Before you buy Allianz life insurance, let’s look at what policies are available for potential customers.
After carefully looking at the Allianz website, we found two life insurance options. Here’s a list of what Allianz Life Insurance Company offers:
- LifePro +
- Life Pro+ Survivor
Both policies are fixed index universal life insurance plans that have accumulated cash value and investment perks. Each comes with multiple death benefit options so policyholders can choose the best fit for their specific situation.
Allianz Life also offers annuity products. You can choose from fixed index and index variable annuities, both of which allow the policyholder to invest their money and get a cash return based on the performance of the stock market. The accumulation potential of these annuities allows you to earn interest tax-free.
Life Pro+ Survivor covers two people on one policy, which is suitable for married couples or caretakers.
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Does Allianz have a term life insurance policy?
Allianz doesn’t explicitly list term life insurance. However, Legal & General America provides term life insurance through Banner Life & William Penn.
How are these companies related? Legal & General America and Banner Life are subsidiaries of Allianz. Also, Banner Life Insurance Company underwrites term life insurance for Legal & General America.
How much are Allianz life insurance rates?
Allianz insurance and annuities have private quotes. The most reliable cost comes from a personalized quote, which is not commonly reported to the masses.
However, Banner life insurance has sample term life insurance rates available for us to see. Let’s examine its monthly cost.
Banner Term Average Monthly Life Insurance Rates by Age, Gender, Term and $100K Death Benefits
| Age of Non-Smoking Policyholder | Banner Life Monthly Rates Based on 10-Year/$100K Policy (Male) | Banner Life Monthly Rates Based on 10-Year/$100K Policy (Female) | Banner Life Monthly Rates Based on 20-Year/$100K Policy (Male) | Banner Life Monthly Rates Based on 20-Year/$100K Policy (Female) |
|---|---|---|---|---|
| 25 | $8.43 | $7.03 | $8.88 | $8.11 |
| 30 | $8.43 | $7.03 | $8.91 | $8.12 |
| 35 | $8.53 | $7.05 | $9.34 | $8.75 |
| 40 | $9.56 | $8.00 | $10.84 | $10.06 |
| 45 | $11.20 | $10.15 | $15.82 | $13.19 |
| 50 | $14.39 | $12.91 | $21.92 | $18.04 |
| 55 | $19.94 | $17.43 | $33.18 | $24.71 |
| 60 | $31.73 | $26.57 | $52.39 | $36.39 |
| 65 | $53.20 | $42.08 | $97.26 | $82.43 |
Do you see how age affects life insurance rates? As you get older, life insurance increases.
When it comes to gender, females pay slightly less for younger policyholders. As a person gets older, gender-based life insurance has a bigger price gap.
Does Allianz Life Insurance Company have good ratings?
The short answer is yes. Allianz may have limited life insurance coverage, but it’s one of the world’s highest-rated life insurance and annuity companies.
Let’s review Allainz’s current financial strength and credit ratings.
- AM Best – A+ (Superior)
- S&P – AA (Very Strong)
- Moody’s – A1 (Upper-Medium)
- JD Power – 743 (Below industry average)
- Better Business Bureau (BBB) – A+
- Consumer Affairs – Two-Star Rating
With the A.M. Best, S&P, and Moody’s financial ratings, it is clear that Allianz has a stable financial outlook and superior ability to meet obligations to customers. Also, Allianz’s credit ratings show that it has low long-term credit risk.
Allianz Life has a two-star rating at Consumer Affairs.
The J.D. Power score shows how Allianz compares to other companies in the life insurance industry. As of 2021, Allianz’s customer satisfaction review is below the life insurance industry average.
Allianz is an accredited company with the BBB and has the highest rating at the agency.
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Navigating the Allianz Life Insurance Claim Process
Ease of Filing a Claim
Allianz Life Insurance offers multiple convenient methods for policyholders to file claims. Whether you prefer an online approach, a phone call, or using mobile apps, Allianz strives to make the process as accessible as possible. Policyholders can choose the method that suits them best, ensuring a hassle-free experience when they need to make a claim.
Average Claim Processing Time
When it comes to filing a claim, the speed at which it is processed is crucial. Allianz understands this and strives to provide efficient claim-processing services. Policyholders can expect timely handling of their claims, reducing the stress associated with uncertain waiting periods.
Customer Feedback on Claim Resolutions and Payouts
The satisfaction of policyholders is a top priority for Allianz. To gauge the effectiveness of their claim resolutions and payouts, customer feedback is invaluable. Allianz takes into account the experiences and opinions of their policyholders, continuously working to improve their claims process and ensuring that customers receive fair and prompt payouts.
A Dive Into Allianz’s Cutting-Edge Digital Features
Mobile App Features and Functionality
Allianz offers a mobile app that provides policyholders with a range of features and functionalities designed to enhance their insurance experience. From accessing policy information to filing claims, managing payments, and receiving updates, the mobile app is a powerful tool for policyholders on the go.
Online Account Management Capabilities
Policyholders can take advantage of Allianz’s online account management capabilities, allowing them to easily access and manage their insurance policies. This includes viewing policy details, making payments, updating personal information, and much more, all through a user-friendly online portal.
Digital Tools and Resources
In addition to their mobile app and online account management, Allianz provides policyholders with a variety of digital tools and resources. These resources may include educational materials, calculators, and guides to help policyholders make informed decisions about their insurance coverage and financial planning.
With Allianz’s commitment to both efficient claims processing and cutting-edge digital features, policyholders can enjoy peace of mind knowing that their insurance needs are met with convenience and innovation.
Allianz Life Insurance: What’s the bottom line?
Allianz’s many subsidiaries make it a strong competitor, but the life insurance company holds a stable front on fixed index universal life insurance. But, Allianz won’t provide you with term life insurance.
Life insurance shoppers who want more than standard life insurance coverage could benefit from Allianz Life’s permanent life insurance solutions.
Now that you know more about Allianz life insurance, use our free comparison tool to compare the best insurance companies in your local area.
Compare Quotes From Top Companies and Save
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Schimri Yoyo
Licensed Agent & Financial Advisor
Schimri Yoyo is a financial advisor with active life and health insurance licenses in seven states and over 20 years of experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity. Schimri is an educator eager to assist individuals and families in ...
Licensed Agent & Financial Advisor
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.