Allianz PNB Life launches insurance plan with access to investment funds

ALLIANZ PNB Life Insurance, Inc. (Allianz PNB Life) has launched a life insurance product that offers access to global investment funds.

Allianz Wealth Builder is a variable universal life product that combines investment opportunities with insurance coverage, the company said in a statement on Monday.

The product is now available through HSBC Premier and will soon be accessible to Philippine National Bank clients, it said. Allianz PNB Life has an insurance distribution partnership with HSBC Wealth.

“The Allianz Wealth Builder plan is carefully crafted to provide our valued clients with the confidence that their financial assets are working for them. It allows them to focus on achieving their personal and professional goals while benefiting from the wealth-building potential of this innovative product,” Allianz PNB Life Chief Partnership Officer Irene M. Andas said.

“Allianz Wealth Builder helps Filipinos take control of their financial future with confidence and clarity, whether it’s for education, wealth-building, or retirement planning,” Ms. Andas said.

Allianz PNB Life said the product has flexible payment options, as customers can choose from a three-, five-, or 10-year limited-pay term to promote “disciplined savings” over a set period. Those who choose the 10-year plan will get a premium bonus, it added.

It also offers guaranteed acceptance endorsement, which means medical underwriting is not required for applications. “Allianz PNB Life is the only and first insurance company that offers Guaranteed Acceptance Endorsement for regular-pay unit-linked plan in the market, making it more accessible for customers to avail this type of plan and to easily start saving for their future,” it said.

The plan also includes access to the Allianz Healthbox suite of health benefits.

Meanwhile, for the product’s investment component, Allianz Wealth Builder lets customer access funds managed by HSBC Asset Management and Allianz Global Investors.

“The Allianz Income and Growth Fund, for example, focuses on US assets, offering reliable income and long-term growth. For those looking for high-growth potential, the Equity Power Growth Fund opens the door to global equity markets,” the insurer said.

Allianz PNB Life booked a premium income of P32.13 billion last year, data from the Insurance Commission showed. Its net income was at P981.58 million. — A.M.C. Sy