MINNEAPOLIS--(BUSINESS WIRE)--Over the past four years, the Insured Retirement Institute (IRI) has seen baby boomers’ confidence in their financial preparations for retirement steadily dropping, with only about a third optimistic about their situation1. A major driver behind this attitude may be a realization that maintaining their current standard of living in retirement is becoming increasingly difficult. Without a defined retirement income plan, boomers are vulnerable to taking a financial “HIT” – triggered by costs associated with Healthcare, Inflation and Taxes – that could derail their financial future.
To help raise public awareness about managing risks to retirement income, Allianz Life Insurance Company of North America (Allianz Life) and the National Retirement Planning Coalition (NRPC), led by the IRI, is supporting National Retirement Planning Week® from April 7-11.
“Retirement planning is about more than setting a savings goal and retirement date – it also needs to include a strategy for dealing with the many expenses that tend to increase as we get older,” said Allianz Life Vice President of Consumer Insights Katie Libbe. “In order to ensure their money lasts as long as they do, boomers need to develop a strategic retirement plan that includes some form of guaranteed retirement income.”
To help consumers gain a better understanding of how to prepare for a potential “HIT” to their retirement income, Allianz Life launched Retirement Income Risks, a new 3-minute animated video. The video uses data from the U.S. Consumer Price Index to explain the potential impact of Healthcare costs, Inflation and Taxes to retirement income, and how an annuity can help as a potential solution. Annuities are designed to meet long-term needs for retirement income. They provide tax-deferred growth potential, a death benefit for beneficiaries during the accumulation phase, and a guaranteed stream of income during retirement. To help address those rising costs, some annuities offer increasing income potential (through either built-in or optional riders at an additional fee). To learn more, visit www.allianzlife.com/allianzanswers.
During National Retirement Planning Week, Americans are urged to make time for retirement planning and establishing their long-term financial goals, demonstrating that if holistic retirement plans are properly developed and managed, it is possible to "Retire On Your Terms."
The National Retirement Planning Coalition, a group of prominent financial industry, education and advocacy organizations, have joined together to raise public awareness of the need for strategic retirement planning.
The coalition, led by IRI, recognizes that the need to educate Americans on retirement planning is an ongoing effort and is committed to making this a national priority. To support these education efforts, the coalition has collected the latest resources to help consumers and financial professionals focus on long-term financial goals. These tools are available year round at www.retireonyourterms.org.
Throughout the week, the coalition and its supporters will release additional educational materials in conjunction with the event’s agenda. The coalition will also encourage retirement planning through nationally distributed radio, television and print spots, a coordinated media outreach program, and a host of events throughout the week.
About National Retirement Planning Week® 2014: National Retirement Planning Week® 2014 takes place from April 7 to 11. Held during financial literacy month, National Retirement Planning Week® is led by the National Retirement Planning Coalition—a group of prominent financial industry, education and advocacy organizations that have joined together to increase awareness of the need for strategic retirement planning.
About the Insured Retirement Institute: The Insured Retirement Institute (IRI) is the leading association for the retirement income industry. IRI proudly leads a national consumer coalition of more than 20 organizations, and is the only association that represents the entire supply chain of insured retirement strategies. IRI members are the major insurers, asset managers, broker-dealers/distributors, and 150,000 financial professionals. As a not-for-profit organization, IRI provides an objective forum for communication and education, and advocates for the sustainable retirement solutions Americans need to help achieve a secure and dignified retirement. Learn more at www.irionline.org.
About Allianz Life
Allianz Life Insurance Company of North America, one of FORTUNE’s 100 Best Companies to Work For in 2014, has been keeping its promises since 1896. Today, it carries on that tradition, helping Americans achieve their retirement income and protection goals with a variety of annuities and life insurance products. As a leading provider of fixed index annuities, Allianz Life is part of Allianz SE, a global leader in the financial services industry with 142,000 employees worldwide. More than 78 million private and corporate customers rely on Allianz knowledge, global reach, and capital strength to help them make the most of financial opportunities.
1 Insured Retirement Institute (IRI): Boomer Expectations for Retirement 2014: Fourth Annual Report on the Retirement Preparedness of the Boomer Generation
For more complete information about Allianz variable annuities and variable investment options from Allianz, call your financial professional or Allianz Life Financial Services, LLC at 800.624.0197. The prospectuses contain details on investment objectives, risks, fees, and expenses, as well as other information about the variable annuity and variable investment options, which you should carefully consider. Please read the prospectuses thoroughly before sending money.
Any distributions are subject to ordinary income tax and, if taken prior to age 59 ½, a 10% federal additional tax.
Products are issued by Allianz Life Insurance Company of North America. Variable products are distributed by its affiliate, Allianz Life Financial Services, LLC, member FINRA, 5701 Golden Hills Drive, Minneapolis, MN 55416-1297. 800.542.5427 www.allianzlife.com
Guarantees are backed by the financial strength and claims-paying ability of the issuing company and do not apply to the performance of the variable subaccounts, which will fluctuate with market conditions.
Allianz Life Insurance Company of North America offers insurance and annuities in all states except New York, where it is not authorized to do so. In New York, products are issued by Allianz Life Insurance Company of New York
Product and features may vary by state.
