1 Policy loans and withdrawals will reduce available cash values and death benefits and may cause the policy to lapse, or affect guarantees against lapse. Additional premium payments may be required to keep the policy in force. In the event of a lapse, outstanding policy loans in excess of unrecovered cost basis will be subject to ordinary income tax. Tax laws are subject to change and your clients should consult their tax professional.

2 Life Happens does not endorse any insurance company, product or advisor. This material is intended for informational purposes only. Materials available on the Life Happens website, including materials for LIAM, may not be compliance-approved.

This communication has been reproduced by Allianz Life Insurance Company of North America (Allianz) with the permission of Life Happens, a nonprofit organization dedicated to helping consumers take personal financial responsibility through ownership of life insurance and related products. ©Life Happens 2016. All rights reserved. Life Happens receives annual financial support from more than 130 leading life insurance companies, including Allianz, all of which share Life Happens’ commitment to making sure consumers have the knowledge needed to make informed insurance-buying decisions.