What to do when a Allianz Life account holder dies

Yes. Trusts can be named as primary or contingent beneficiaries on Allianz Life annuity contracts and life insurance policies. When designating a trust as beneficiary, you need to provide the trust name, trust date, and EIN on the beneficiary designation form. Additional trust documentation is required when filing a death claim.

Start a claim online at allianzlife.com/start-a-claim or call 800-950-1962 (fixed annuities and life insurance) or 800-624-0197 (variable annuities). Provide the deceased's name, contract or policy numbers, date of death, and beneficiary information. All listed beneficiaries will be contacted directly and mailed a claim form packet. Complete and return the claim form with one certified copy of the death certificate. Claims are evaluated within 10 business days of receiving all required documents.

Upon receipt of all required documents, Allianz Life processes claims within 10 business days or within the applicable state requirements. For tax-qualified annuities, the first payment must be made by December 31 following the year of death. For non-tax-qualified annuities, the first payment must be made within one year of death.

Yes. If a claim is not filed within a certain number of years, the proceeds are considered unclaimed property and are remitted to the applicable state in accordance with state unclaimed property requirements.

Yes. Allianz Life insurance policy ownership can be transferred to an ILIT using the Transfer of Ownership Request form (SFAL0013). An Entity Customer Information form and certification of trust are required. The three-year lookback rule applies: if the insured dies within three years of the ownership transfer, the death benefit may be included in the taxable estate.