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Allianz Life invests $450,000 in Twin Cities financial centers
The three-year funding supports eight Financial Opportunity Centers that serve about 1,400 residents annually, and Allianz says participants have increased net worth by more than $3.6 million over five years.
Allianz Life is investing $450,000 over three years in Local Initiatives Support Corporation Twin Cities to expand access to employment services, financial coaching, and income support, the insurer said.
The investment, made through Allianz For Tomorrow, will back a network of eight community-based Financial Opportunity Centers across the Twin Cities. About 1,400 residents use the centers’ services each year, and Allianz Life said participants have collectively increased their net worth by more than $3.6 million over the past five years.
Financial coaches at the centers help clients increase income, reduce debt, improve credit, and build savings. Part of the funding will be used to develop an Asset Protection Guide focused on insurance, retirement planning, and estate considerations.
Allianz Life also noted that product availability varies by state, with the guide content not applying to New York. Separately, the company said it will donate 3% of new cancer-policy premiums through 2025 to a micro-insurance fund for low-income households.