2% Bonus offer
on eligible Future Safe investments1.
With interest rates at a record low 1%2 and equity markets approaching all-time highs, we think now more than ever is the time retirees should consider Allianz Retire+ Future Safe to protect their savings against a potential market downturn.
Allianz Retire + Future Safe is a seven-year investment product issued by a life insurance company. It offers retirees both protection and access to the returns of the sharemarket with the certainty of a range of outcomes.
This 2% Bonus offer is available to eligible Future Safe investors for a limited period of time, and until the total funds within the Bonus pool available to investors have been allocated.
How it works3
The Bonus will be included in the Account Balance at policy issue:
3. The above is subject to the full Terms and Conditions of the Bonus offer.
*Assuming no taxes, advice fees or stamp duty
With an investment in Allianz Retire+ Future Safe you can:
- Have peace of mind in knowing your range of outcomes upfront
- Achieve growth with returns linked to the sharemarket
- Protect against losses through a pre-selected Floor – the maximum market loss that can be experienced in a year
- Access a regular and flexible income stream
- Reset investment and protection options on an annual basis to meet evolving investment goals and changing market dynamics
- Have protection within a statutory fund, prudentially regulated by APRA, the same authority that regulates banks
Future Safe Bonus Offer Terms and Conditions
1. A 2% Bonus amount from Allianz Australia Life Insurance Limited, ABN 27 076 033 782, AFSL 296559 (AALIL), referred to as the Bonus, will be allocated at the Commencement Date of the policy as a percentage of the amount you invest if you meet the eligibility criteria as referred below (including paragraphs 5 and 11) and in the Future Safe Product Disclosure Statement (PDS).
2. The Bonus is credited at the Commencement Date to your account by way of an addition to the amount invested by you and results in a corresponding increase in your Account Balance (as defined in the PDS). As a result it will be included when determining your interest, fees, free withdrawal amount/s and Superannuation Industry (Supervision) Act 1993 minimum requirements.
3. The Bonus will be subject to income tax at the rate applicable to your policy other than for a policy purchased with ordinary money in which case the Bonus is not assessable on crediting but is assessable on withdrawal. The Bonus may in our absolute discretion be reduced by an amount calculated as if stamp duty was payable on the Bonus.
4. The maximum Bonus that may be paid to you will be based on a maximum initial investment from you of $1.6 million. However, the Bonus will count towards the amount of the transfer balance cap applicable to the total amount of superannuation savings that can be transitioned into the retirement phase. You should discuss this with your financial adviser before accepting the Bonus.
5. You are only eligible to receive a Bonus if your policy is issued during the period commencing on and from 15 July 2019 and ending on (and including) the earliest of 30 September 2019 and before the pre-determined dollar limit allocated for the Bonus offer is reached. Applications will be processed in order of receipt by us and in the event of the pre-determined dollar amount being reached we reserve the right to reduce the Bonus to zero. In such a case of non-eligibility, the Bonus will not be applied to your policy.
6. In order for your policy to be issued you must satisfy all standing eligibility requirements of entry into the Future Safe product.
7. The Bonus is only available after the end of the ‘cooling off period’ (as described on page 36 of the PDS) and accordingly will not be payable if you exit the product prior to the end of the cooling off period. The cooling off period is defined in the PDS as 14 calendar days from the earlier of the date that you receive your policy documentation from us; and the end of the 5th business day from the commencement date of your policy. The Bonus will accrue returns from the Commencement Date.
8 If you wish to purchase a policy but do not wish to receive a Bonus, you can reject the Bonus offer by notifying AALIL in writing.
9. If you wish to receive the Bonus, your "investment amount” in your application form will comprise the Bonus plus the amount you invest. The amount of your Bonus will be included in the "Amount Invested" in your Investor Certificate.
10. AALIL reserves the right to not extend the Bonus offer to multiple investments attributable to one Investor, such as an Investor’s SMSF, family trust, family company, joint venture, or partnership.
11. AALIL may vary any of the above terms and conditions including varying or waiving eligibility criteria in its absolute discretion, and including imposing restrictions on eligibility criteria in respect of individual applications already made but not processed provided the restriction was disclosed on the website or otherwise disclosed to the applicant.
* Capitalised terms have the meaning defined in the Future Safe Product Disclosure Statement dated 12 March 2019 (PDS) (including the Policy Document), unless the context otherwise requires.
AALIL may, at its discretion, at any time, withdraw this Bonus offer or vary its terms and conditions (as referred to above).
This Bonus offer is made by AALIL, which is the issuer of the Future Safe product. Please consider the Future Safe PDS, including the Policy Document, available on this website (www.allianzretireplus.com.au) and the above Bonus offer terms and conditions, before deciding whether to acquire the Future Safe product and the Bonus offer, or continue to hold the Future Safe product. You should consider whether the product and the Bonus offer is appropriate for you and whether to obtain financial advice in relation to your own circumstances.
To be eligible for the 2% Bonus (Bonus), we must receive a completed and signed Future Safe application including ID verification; investment funds; and any applicable additional form/s (Super rollover, direct debit and tax withholding etc.) within the offer period.
All policies issued during the offer period will receive the Bonus unless the client elects not to take up the offer and notifies Allianz Australia Life Insurance Limited (AALIL) in writing.
The offer period is the period commencing on and from 15 July 2019 and ending on (and including) the earliest of 30 September 2019 and before the pre-determined dollar limit allocated for the Bonus offer is reached.
Applications will be processed in order of receipt by us and in the event of the pre-determined dollar amount being reached we reserve the right to reduce the Bonus to zero. In such a case of non-eligibility, the Bonus will not be applied to your policy.
A policy is generally issued within one business day of submission, provided we are in receipt of all of the following: completed and signed application with ID verification; investment funds; and any applicable additional form/s (Super rollover, direct debit and tax withholding etc.).
The Bonus will be included in the Account Balance at the Commencement Date.
Account Balance at commencement of policy (assuming no taxes, advice fees or stamp duty) is calculated as follows:
$100,000 (the amount you invest)
+ $2,000 (2% Bonus)
= $102,000 (Account Balance at commencement of policy)
Importantly, in an instance where a policy owner exits Future Safe prior to the end of the cooling off period, the Bonus will not be payable.
The maximum Bonus that may be paid will be based on a maximum initial investment from you of $1.6 million.
The amount that you note in the application form as the "investment amount" must include both the amount you invest and the Bonus amount.
The amount you invest: $100,000
Allianz Retire+ Bonus: 2% of $1000,000 = $2,000
Investment Amount (including Bonus): $100,000 + $2,000 = $102,000
If you are investing with Superannuation money transitioning into the retirement phase, the amount you invest together with the Bonus is limited to $1.6m. The example below shows the maximum amount you can invest:
The amount you invest: 100 / 102 x $1,600,000 = $1,568,627
Allianz Retire+ Bonus: 2% of $1,568,627 = $31,373
Investment Amount (including Bonus): $1,568,627 + $31,373 = $1,600,000
Please take into account any other amounts you may already have transitioned into the retirement phase when determining the total transfer balance cap.
The amount of your Bonus will be included in the ‘Amount Invested’ in your Investor Certificate.
The Bonus will form part of the Account Balance at commencement of the policy. As a result it will be included when determining interest, fees, free withdrawal amount/s and SIS minimums applicable to the policy. Full details of all these terms are available within the PDS.
Free Withdrawal Amount (FWA)
The Bonus forms part of the Account Balance at commencement of policy.
For a policy bought by an individual with personal savings, or by companies or trusts (including an SMSF) the Free Withdrawal Amount in any one year is:
For a policy bought by an individual using Super, the Free Withdrawal Amount is the greater of:
Annual product fee – 0.85% pa (inclusive of GST, if any)
The Bonus forms part of the Account Balance at commencement of policy.
At each Anniversary Date, a fee of 0.85% (inclusive of GST, if any) of the opening balance at the Commencement Date or the last Anniversary Date (whichever is the later) adjusted for any credited or debited interest and withdrawals made during the year will be deducted from an Account Balance.
Adviser Service Fee (ASF)
An ASF is optional and is negotiated by the financial adviser and client. It is not an AALIL fee.
If an ASF is elected and expressed as a percentage of the Account Balance at commencement of policy, the Bonus will be included in that calculation.
If you do not wish for the Bonus amount to be included in the calculation of the fee, the ASF will need to be expressed as a dollar value within the application form.
As the Bonus will form part of an Account Balance at commencement of the policy, it will be included in the balance when crediting interest (subject to any withdrawals or payments made out of the policy during the year). The amount of interest we credit will depend on the Cap and Floor for the selected investment option and the performance of that investment option.
If the Bonus is purchased with Super money, it will be subject to the same tax rate that is applicable to the policy and will be deducted at the time of policy commencement.
For a policy purchased with ordinary money, the Bonus is not assessable on crediting and will be assessed on withdrawal.
Yes. If investing with Super money, the Bonus will count towards the amount of the transfer balance cap applicable to the total amount of Superannuation savings that can be transitioned into the retirement phase.
No, while the Bonus will lead to an increase in the capital of a Superannuation fund policy owner, it does not give rise to any contribution to a Superannuation fund.
To help determine whether Future Safe is suitable in helping your clients achieve their investment goals, please watch our Future Safe Product Training video and complete a short Q&A. This training is compulsory in order for a submitted application to proceed to policy issue. CPD accreditation will be issued upon completion of the training. Please contact your BDM for more information.
We recommend reading the PDS carefully and speaking to your financial adviser before investing.
Here you can find our PDS and guides with important information.
Allianz Retire+ Future Safe is designed for Australian retirees who don't want to risk the retirement savings they've worked so hard to build.
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