Interactive Website also Launched to Help Consumers Understand Retirement Income Needs
MINNEAPOLIS--(BUSINESS WIRE)-- With 4.5 million baby boomers transitioning to retirement each year*, determining an appropriate strategy for turning years of retirement savings into long-term guaranteed income is a complicated process that can benefit from a new approach. Allianz Life Insurance Company of North America (http://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.allianzlife.com%2F&esheet=50317775&lan=en-US&anchor=Allianz+Life&index=1&md5=d09459589d9fac370cf2bdc1024e90ea) has introduced The 4C’s of Successful Retirement Income StrategiesSM, a framework that provides an uncomplicated process to help individuals ask questions and – with the help of a trusted financial professional – work through the complexities of retirement income planning.
Focused on simplicity, the 4C’s include Clarity, Comfort, Cost of Living and Certainty – four concepts to help people with the important transition period starting roughly five to 10 years before retirement. To accompany the 4C’s framework, Allianz Life has also launched an http://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.allianzlife.com%2Fretirement%2Fretirement.aspx&esheet=50317775&lan=en-US&anchor=interactive+website&index=2&md5=e8b635da8c2cc75b8230c5a103e368b1 that can help consumers understand their retirement income needs.
“Retirement objectives change over time. A person may spend 30 years accumulating assets but then may not know how to convert those assets during the transition period into a stream of long-term guaranteed income,” said http://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.allianzlife.com%2Fabout%2Fexecutives%2Fgary_bhojwani.aspx&esheet=50317775&lan=en-US&anchor=Gary+C.+Bhojwani%2C+chairman+of+Allianz+Life&index=3&md5=615747bf9b112cb63d43868ad891583d and author of the 4C’s white paper. “This simple, descriptive and memorable concept identifies the critical retirement questions that must be answered to begin the pivoting process from accumulation to income.”
Inspired by the successful framework from the diamond industry, the easy-to-remember 4C’s help put a simple framework of understanding around the substantial and often emotional retirement planning process. The 4C’s of Successful Retirement Income Strategies consists of the following:
Clarity – fact-gathering part of the process where individuals look at the realities of today and address some basic questions about their future.
Comfort – involves identifying the desired lifestyle for what could be multiple decades of retirement living.
Cost of Living – evaluates the impact of inflation on retirement savings.
Certainty – identifies solutions based on time-tested data to help form a realistic and manageable retirement income strategy.
To help consumers better understand this framework, Allianz Life developed an interactive website that directs people to a short quiz that reveals a high level overview of their attitudes about key retirement issues. After answering a few simple questions, they can print a summary of their results, complete with tips to help prepare for next steps, which may include meeting with their financial professional where they can discuss their specific situation. To access the 4C’s of Retirement interactive website, visit: http://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.allianzlife.com%2Fretirement%2Fretirement.aspx&esheet=50317775&lan=en-US&anchor=www.allianzlife.com%2Fretirement&index=4&md5=9bdad1542622e25cd4fcd606ecbc20f8.
“The 4C’s interactive website is a great tool for beginning the process of thinking through key issues during the transition period to build a realistic, achievable retirement income plan,” added Bhojwani.
*United States Census Bureau: Age and Sex Composition: 2010 – Issued May 2011
About Allianz Life
http://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.allianzlife.com%2F&esheet=50317775&lan=en-US&anchor=Allianz+Life+Insurance+Company+of+North+America&index=5&md5=556a797d6aa6f8bf45f2b71c58f28094, one of FORTUNE’s 100 Best Companies to Work For in 2012, 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.
Life insurance and annuities are issued by Allianz Life Insurance Company of North America, and in New York, by Allianz Life Insurance Company of New York, New York City.
Allianz Life Insurance Company of North America
Sara Thurin Rollin, 763-765-6703
Source: Allianz Life Insurance Company of North America
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