Allianz Accumulation Advantage+® Annuity

Would you like to emphasize accumulating for retirement, while protecting a portion of your portfolio from market losses? Allianz Accumulation Advantage+® Annuity may be a good choice. It gives you a premium bonus¹ on the principal you place in the annuity in the first 18 months – plus it offers competitive rates, innovative features, and flexible ways to access your money down the road.

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Accumulation plus innovation

Allianz Accumulation Advantage+® is designed to emphasize accumulating for retirement. Because it’s a fixed index annuity (FIA) it offers tax-deferred growth potential, protects your principal and credited interest from market downturns, and provides a death benefit for beneficiaries. It also has innovative features that may give you even more potential, as our video explains.

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[Narrator] Are you concerned about accumulating enough for retirement?

Let’s be honest. Who isn’t?

That’s why we created Allianz Accumulation Advantage Plus Annuity.

As part of your overall retirement strategy, it’s designed to help jump-start your accumulation potential … give you tax-deferred growth potential … and let you take penalty-free withdrawals if your plans change.

[On-screen disclosure] ¹ Penalty-free withdrawals are available as soon as the contract year following your last premium payment. [End of on-screen disclosure]

But let’s start with the basics.

Allianz Accumulation Advantage Plus is simply a contract that provides several key benefits.

[On-screen disclosure] ¹During the annuity's accumulation phase.
Guarantees are backed by the ﬁnancial strength and claims-paying ability of Allianz Life Insurance Company of North America.[End of on-screen disclosure]

And because it’s a fixed index annuity, it also gives you the potential to earn fixed or indexed interest.

You may be familiar with fixed interest, which is paid at a steady rate that’s declared annually.

[On-screen disclosure] Hypothetical example. Not meant to be proportional or to scale. [End of on-screen disclosure]

Indexed interest, on the other hand, is based on changes in an external market index.

Here’s how it works:

Allianz tracks the index value over a specified period of time.

[On-screen disclosure] Hypothetical example of a point-to-point crediting method. Not meant to be proportional or to scale.
Please see the Allianz Accumulation Advantage+™ Annuity consumer brochure (AAAPL-001) and insert for other available crediting methods. [End of on-screen disclosure]

And if the index ends at a higher value than where it started, your annuity earns interest – up to certain limits.

Allianz Accumulation Advantage Plus even gives you the option to lock in an index value before the end of the crediting period – either manually or automatically – to ensure a positive credit.

[On-screen disclosure] An Index Lock can only be activated on index returns that are greater than 0%, unless otherwise indicated. [End of on-screen disclosure]

You’re not actually buying stocks or shares in the index, however. So, if there is a market downturn, your annuity’s value is never reduced because of market losses.

[On-screen disclosure] Hypothetical example. Not meant to be proportional or to scale.
Premiums and interest are not at risk due to market losses, but fees and charges may reduce the accumulation value. [End of on-screen disclosure]

And if the market goes up again, you don’t have to make up any losses before you can start earning indexed interest. Over time, this can help accelerate your accumulation potential.

Allianz Accumulation Advantage Plus also gives you a premium bonus on any money you place in your annuity for the first 18 months.

[On-screen disclosure] Bonus is credited to the accumulation value and is vested at 10% per year. Bonus annuities may include higher withdrawal charges, longer withdrawal charge periods, lower rates, or other restrictions that are not included in similar annuities that don’t offer a premium bonus feature. [End of on-screen disclosure]

Thanks to the power of compounding, this may give you even greater accumulation potential over time.

And remember what we said about access?

If your plans change, you can take a penalty-free withdrawal of up to 10% the contract year following your last premium payment.

[On-screen disclosure] ¹Penalty-free withdrawals of the greater of paid premiums or the contract’s accumulation value are available as soon as the contract year following your last premium payment.
Withdrawals are subject to ordinary income tax, and if taken prior to age 59½, a 10% federal additional tax. [End of on-screen disclosure]

What’s more, any unused penalty-free withdrawal percentage carries over to the next year … for a potential penalty-free withdrawal of up to 20%.

[On-screen disclosure] Withdrawals are subject to ordinary income tax, and if taken prior to age 59½, a 10% federal additional tax. [End of on-screen disclosure]

After just five contract years, you can receive annuity payments based on your accumulation value

And after 10 years – if you haven’t started annuity payments – you can choose to either continue building your retirement savings … or withdraw some or all of your money in a lump sum, with no withdrawal charge, unvested premium bonus reduction, or market value adjustment.

[On-screen disclosure] 10-year withdrawal charge schedule. Please see the Allianz Accumulation Advantage+™ Annuity consumer brochure (AAAPL-001) and insert for additional information. [End of on-screen disclosure]

Of course, this is just an overview of the main features of Allianz Accumulation Advantage Plus Annuity.

Talk to your financial professional to learn more.

[On-screen disclosure] The purchase of an annuity is an important financial decision. You should have a full discussion with your financial professional regarding fees, costs, and potential benefits before making any decision. [End of on-screen disclosure]

[On-screen disclosures]

Fixed indexed annuities are designed to meet long-term needs for retirement income. They provide guarantees against the loss of principal and credited interest, tax-deferred accumulation potential, and the reassurance of a death benefit for beneficiaries.

The bonus is subject to a 10-year vesting schedule. 10% of the bonus will become vested on each contract anniversary until the beginning of the 11th contract year, when 100% will be vested. If you withdraw your contract before the 11th contract year, you will lose the unvested bonus. During the first 10 contract years, we will apply a withdrawal charge, market value adjustment, and unvested bonus reduction if you partially or fully withdraw your contract. The same would apply if you begin annuitization, which means receiving regular annuity payments over a specified period of time, prior to the sixth contract year. These charges may result in a loss of bonus, indexed interest, and fixed interest, and a partial loss of principal (your premium). Bonus annuities may include higher withdrawal charges, longer withdrawal charge periods, lower caps, lower participation rates, or other restrictions that are not included in similar annuities that don’t offer a premium bonus feature.

Premium payments are accepted through the first 18 months.

Guarantees are backed by the financial strength and claims-paying ability of Allianz Life Insurance Company of North America.

Any distributions are subject to ordinary income tax and, if taken prior to age 59½, a 10% federal additional tax.

Products are issued by Allianz Life Insurance Company of North America, 5701 Golden Hills Drive, Minneapolis, MN 55416-1297. www.allianzlife.com

• Not FDIC insured • May lose value • No bank or credit union guarantee • Not a deposit • Not insured by any federal government agency or NCUA/NCUSIF

Product and feature availability may vary by state and broker/dealer.

C64997-MVA, ICC23C64997-MVA

AAAPL-005 (3/2023)

[End of on-screen disclosures]

Features of Allianz Accumulation Advantage+®

Competitive rates and premium bonus

Highly competitive rates and tax-deferred growth offer accumulation potential, while 100% of your premium and credited interest is protected from market downturns (though fees may reduce the contract value). You also will receive a 13% premium bonus on the money you place in your annuity for the first 18 months, vested at a rate of 10% each contract year.

Innovative crediting

Crediting methods are formulas that help determine how much indexed interest your annuity receives in a given crediting period. Allianz created the innovative MY (multi-year) point-to-point crediting method to offer more accumulation potential over a longer term.

Index Lock

React to volatility by locking in a positive index value at any point during the crediting period. Index Lock can assure you receive a positive index credit, no matter what happens in the market during the remainder of the crediting period.²

Flexible access

After at least one contract year has passed since your last premium payment, you can take a free withdrawal of up to 10% each year from your annuity’s premium or accumulation value, whichever is greater. If you don’t take your full annual free withdrawal in a contract year, you can carry over any unused free withdrawal percentage to the following year, up to a maximum of 20%. And after 10 years – if you haven’t yet started annuity payments – you can withdraw some or all of your money in a lump sum, with no withdrawal charge or market value adjustment (MVA). You can also choose annuitization, and your payment amount will depend on when you begin annuity payments.³

Allocation options

An allocation option is the combination of an index (such as the S&P 500® Index) and a crediting method. Allianz Accumulation Advantage+® lets you choose among the following allocation options.

S&P 500® Index

Considered by many to be the most common benchmark used in measuring the performance of U.S. stock market large-caps, which are companies with a market capitalization value of more than $10 billion. The S&P 500® Index represents a broad cross-section of common stocks traded on every major U.S. stock exchange. The Index is a selection of 500 leading companies from 100 distinct industry groups found in 10 leading American industrial market sectors.

Available with the monthly sum and annual point-to-point with a cap crediting methods (see descriptions below).

S&P 500® Futures Index ER

The S&P 500® Futures Index ER is constructed from the front-quarter E-mini futures contract on the S&P 500. It is part of the S&P Factor Series, which measures the inherent risk premium between asset classes and financial markets.

Available with the annual point-to-point with a participation rate and 2-year or 5-year MY point-to-point with a participation rate crediting methods (see description below).

Blended Futures Index

The Blended Futures Index constructed by allocating to four specific futures indexes in order to provide a mix between bond and equity indexes:

The Blended Futures Index is comprised of four sub-indexes: S&P 500® Futures Index ER, Bloomberg International Equity Custom Futures ER Index, Bloomberg US 10yr Note Custom Futures ER Index, and Bloomberg US Small Cap Custom Futures ER Index.

Available with annual point-to-point with a participation rate and 2-year or 5-year MY point-to-point with a participation rate crediting methods (see description below).

PIMCO Tactical Balanced ER Index

The PIMCO Tactical Balanced ER Index is comprised of the U.S. Equity Futures Custom Index, a bond component comprised of the PIMCO Synthetic ER Bond Index with a duration overlay, and shifts weighting between them daily based on historical realized volatility of the components. In order to manage index volatility during times of high volatility, the index weights may not add up to 100%. The U.S. Equity Futures Custom Index is a custom index that tracks futures on large-cap equities, similar to futures on the S&P 500 Index. The PIMCO Synthetic Bond ER Index is a custom index comprised of a small number of instruments designed to provide exposure to futures on U.S. investment-grade and Treasury bond markets. The duration overlay adjusts the interest rate exposure in response to changes in market trends. The PIMCO Tactical Balanced ER Index uses an excess return methodology by tracking the price of futures. Futures prices reflect the expected future price of an index and account for expected dividends. The excess return structure is designed to create a level of stability in your participation rate (for the associated crediting method) from year to year by mitigating the impact of short-term interest rates on renewal rates.

Available with annual point-to-point with a participation rate and 2-year or 5-year MY point-to-point with a participation rate crediting methods (see description below).

S&P 500® Futures Daily Risk Control 5% Index

The S&P 500® Futures Daily Risk Control 5% Index is comprised of the S&P 500 Futures Index ER and the S&P 10-year Treasury Note Futures Index ER and is balanced daily to achieve target volatility.

Available with annual point-to-point with a participation rate and 2-year or 5-year MY point-to-point with a participation rate crediting methods (see description below).

Bloomberg US Dynamic Balance III ER Index

The Bloomberg US Dynamic Balance III ER Index is comprised of varying exposure to the Bloomberg US Equity Futures Basket ER Index, where the exposure is primarily determined by market implied volatility. The Bloomberg US Equity Futures Basket ER Index is comprised of three sub-indexes: the Bloomberg US Equity Custom Futures ER Index, the Bloomberg US Small Cap Custom Futures ER Index, and the Bloomberg US Tech Custom Futures ER Index, with intended weights of 80%, 10%, and 10%, respectively, rebalanced daily. The Bloomberg US Equity Custom Futures ER Index generally maintains exposure to large cap U.S. stocks via futures in excess of the corresponding benchmark portfolio. The Bloomberg US Small Cap Custom Futures ER Index generally maintains exposure to small cap U.S. stocks in excess of the corresponding benchmark portfolio. The Bloomberg US Tech Custom Futures ER Index generally maintains exposure to technology sector U.S. stocks in excess of the corresponding benchmark portfolio.

Available with annual point-to-point with a participation rate and 2-year MY point-to-point with a participation rate crediting methods (see description below).

Morgan Stanley Strategic Trends 10 ER Index

The Morgan Stanley Strategic Trends 10 ER Index is comprised of the NASDAQ 100 Futures Excess Return Index and the 10-year Treasury MSCRF Rolling Futures Index. It shifts exposure between them based on three trends. The base weights for equity and bond are set as per the target for the current trend but may differ when the index is transitioning from onetrend to another.

Trend 1: No clear interest rate trend in the market. Index exposure target base weights are 60% NASDAQ 100 Futures ER Index and 40% 10-year Treasuries.

Trend 2: Both short-term and long-term interest rates are increasing. Index exposure target base weights are 60% NASDAQ 100 Futures ER Index and -40% 10-year Treasuries.

Trend 3: Both short-term and long-term interest rates are decreasing. Index exposure target base weights are 40% NASDAQ 100 Futures ER Index and 60% 10-year Treasuries.

Exposure to each of the components may be proportionally increased or decreased in order to achieve target volatility.

The Morgan Stanley Strategic Trends 10 ER Index uses an excess return methodology by tracking the price of futures. Futures prices reflect the expected future price of an index and account for expected dividends. Excess return indexes are designed to bring a level of stability to renewals (for the associated crediting method) from year to year by reducing the effects of changing short-term interest rates.

Available with annual point-to-point with a participation rate and 2-year or 5-year MY point-to-point with a participation rate crediting methods (see description below).

Fixed Interest

A fixed interest allocation is also available. See current rates.

Crediting methods

Crediting methods are simply mathematical formulas that determine how much indexed interest your annuity receives based on changes in an index during a given timeframe ("crediting period").

Annual point-to-point with a cap

This straightforward crediting method uses the index value from only two points in time, so it may be a good choice if you want to minimize the effects of midyear market volatility. A cap sets an upper limit on how much indexed interest is credited to your annuity at the end of each crediting period.

Annual point-to-point with a participation rate

This straightforward crediting method also uses the index value from only two points in time, but a participation rate determines what percentage of the positive index change is credited to your annuity at the end of each crediting period.

Monthly sum with a cap

This crediting method looks at the index value each month on the contract’s anniversary and compares it to the prior month’s value, then calculates the percentage of change. At the end of the year, the monthly index increases and decreases are added up. There is a cap on positive changes, but no cap on negative changes. If the final sum is positive, the annuity receives that amount as indexed interest, up to a cap.

1-year performance trigger

This simple crediting method also uses the index value from two points in time and gives you the opportunity to receive a predetermined indexed interest credit based on a "trigger interest rate" that we declare annually. On your contract anniversary, we look at the change in the external index for the crediting period. If the index change is greater than or equal to 0%, your accumulation value will be credited with the trigger interest rate for that crediting period.

MY (multi-year) point-to-point with a participation rate

Similar to annual point-to-point, but with a 2-year or 5-year crediting period. A participation rate determines what percentage of the positive index change is credited to your annuity at the end of each crediting period.

Talk to your financial professional to learn more

Common questions:

Learn about the key benefits of fixed index annuities.

Get answers to some frequently asked questions.

Current MVA reference rate: 4.46 % as of 10/3/2024

Uses the yield of the Bloomberg US Intermediate Corporate Bond Index

Historical MVA reference rates

Withdrawal charge schedule

Start of contract year	1	2	3	4	5	6	7	8	9	10
Withdrawal charge %	9.30%	8.85%	8.85%	6.95%	5.95%	5.00%	4.00%	3.00%	2.00%	1.00%

During the first 10 years, a withdrawal charge and MVA will apply if the contract is partially or fully surrendered. These charges may result in a loss of indexed interest and fixed interest and a partial loss of principal (premium).

¹ The bonus is subject to a 10-year vesting schedule. 10% of the bonus will become vested on each contract anniversary until the beginning of the 11th contract year, when 100% will be vested. If you withdraw your contract before the 11th contract year, you will lose the unvested bonus. During the first 10 contract years, we will apply a withdrawal charge, market value adjustment, and unvested bonus reduction if you partially or fully withdraw your contract. The same would apply if you begin annuitization, which means receiving regular annuity payments over a specified period of time, prior to the sixth contract year. These charges may result in a loss of bonus, indexed interest and fixed interest, and a partial loss of principal (your premium). Bonus annuities may include higher withdrawal charges, longer withdrawal charge periods, lower caps, lower participation rates, or other restrictions that are not included in similar annuities that don’t offer a premium bonus feature.

² Exercising an Index Lock may result in a credit higher or lower than if the Index Lock had not been exercised.

³ Annuity payments begun before the fifth contract anniversary will be based on the contract’s cash value. Annuity payments begun on the fifth contract anniversary or later will be based on either the contract’s cash value or the accumulation value, whichever is greater.

There is potential for volatility-controlled indexes to underperform compared against benchmark indices.

The indexes available within the contract are constructed to keep track of diverse segments of the U.S. or international markets, or specific market sectors. These indexes are benchmarks only. Indexes can have different constituents and weighting methodologies. Some indexes have multiple versions that can weight components or may track the impact of dividends differently. Although an index may affect interest credited, clients cannot purchase, directly participate in, or receive dividend payments from any of them through the index annuity contract.

The Blended Futures Index is comprised of four sub-indexes: S&P 500^® Futures Index ER, Bloomberg International Equity Custom Futures ER Index, Bloomberg US 10yr Note Custom Futures ER Index, and Bloomberg US Small Cap Custom Futures ER Index.

“Bloomberg^®” and the Bloomberg indices referenced herein (the “Indices”, and each such index, an “Index”) are trademarks or service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the Index (collectively, “Bloomberg”) and/or one or more third-party providers (each such provider, a “Third-Party Provider,”) and have been licensed for use for certain purposes to Allianz Life Insurance Company of North America (the “Licensee”). To the extent a Third-Party Provider contributes intellectual property in connection with the Index, such third- party products, company names and logos are trademarks or service marks, and remain the property, of such Third-Party Provider. Bloomberg is not affiliated with the Licensee or a Third-Party Provider, and Bloomberg does not approve, endorse, review, or recommend the financial products referenced herein (the “Financial Products”). Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Indices or the Financial Products.

The PIMCO Tactical Balanced Index is comprised of the S&P 500® Index, a bond component comprised of the PIMCO Synthetic Bond Index and a duration overlay, and cash, and shifts weighting between them daily based on historical realized volatility of the components. The PIMCO Synthetic Bond Index is comprised of a small number of derivative instruments designed to provide exposure to U.S. investment-grade and Treasury bond markets.

The “PIMCO Tactical Balanced Index” is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and Pacific Investment Management Company LLC (“PIMCO”), and has been licensed for use by Allianz Life Insurance Company of North America (“Allianz”). Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Allianz. PIMCO’s Trademark(s) are trademarks of PIMCO and have been licensed for use by SPDJI and Allianz. Allianz products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, or PIMCO and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the PIMCO Tactical Balanced Index.

The PIMCO Tactical Balanced ER Index is comprised of the U.S. Equity Futures Custom Index, a bond component comprised of the PIMCO Synthetic Bond ER Index and a duration overlay, and shifts weighting between them daily based on historical realized volatility of the components. The U.S. Equity Futures Custom Index provides exposure to large cap U.S. stocks in excess of a benchmark rate. The PIMCO Synthetic Bond ER Index is comprised of a small number of derivative instruments designed to provide exposure to U.S. investment-grade and Treasury bond markets in excess of a benchmark rate.

The "PIMCO Tactical Balanced ER Index" (the "Index") is a rules-based index that tactically allocates across U.S. equity and fixed income markets using quantitative signals. The Index is a trademark of Pacific Investment Management Company LLC ("PIMCO") and has been licensed for use for certain purposes by Allianz Life Insurance Company of North America (the "Company" or “Allianz”) with respect to this Allianz product (the "Product"). The Index is the exclusive property of PIMCO and is made and compiled without regard to the needs, including, but not limited to, the suitability or appropriateness needs, as applicable, of the Company, the Product, or any Product owners. The Product is not sold, sponsored, endorsed, or promoted by PIMCO or any other party involved in, or related to, making or compiling the Index.

Neither PIMCO nor any other party involved in, or related to, making or compiling the Index has any obligation to continue to provide the Index to the Company with respect to the Product. In the event that the Index is no longer available to the Product or Product owners, the Company may seek to replace the Index with another suitable index, although there can be no assurance that one will be available.

PIMCO disclaims all warranties, express or implied, including all warranties of merchantability or fitness for a particular purpose or use. PIMCO shall have no responsibility or liability with respect to the Product.

The Index is comprised of a number of constituents, some of which are owned by entities other than PIMCO. All disclaimers referenced in the Agreement relative to PIMCO also apply separately to those entities that are owners of the constituents of the Index.

The S&P 500^® Index is comprised of 500 stocks representing major U.S. industrial sectors. The S&P 500^® Futures Index ER is constructed from the front-quarter E-mini futures contract on the S&P 500. It is part of the S&P Factor Series, which measures the inherent risk premium between asset classes and financial markets. The S&P 500^® Futures Daily Risk Control 5% Index is comprised of the S&P 500 Futures Index ER and the S&P 10-Year Treasury Note Futures Index ER and is balanced daily to achieve target volatility.

The "S&P 500® Index", "S&P 500® Futures Index ER", and "S&P 500® Futures Daily Risk Control 5% Index" are products of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and have been licensed for use by Allianz Life Insurance Company of North America ("Allianz"). S&P®, S&P 500®, US 500, and The 500 are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Allianz. Allianz products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500® Index, S&P 500® Futures Index ER, and/or S&P 500® Futures Daily Risk Control 5% Index.

MORGAN STANLEY STRATEGIC TRENDS 10 ER INDEX (THE “INDEX”) IS THE PROPERTY OF MORGAN STANLEY & CO. LLC.

ANY PRODUCT THAT IS LINKED TO THE PERFORMANCE OF THE INDEX IS NOT SPONSORED, ENDORSED, SOLD OR PROMOTED BY MORGAN STANLEY & CO. LLC, OR ANY OF ITS AFFILIATES (COLLECTIVELY, “MORGAN STANLEY”). NEITHER MORGAN STANLEY NOR ANY OTHER PARTY (INCLUDING WITHOUT LIMITATION ANY CALCULATION AGENTS OR DATA PROVIDERS) MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, REGARDING THE ADVISABILITY OF PURCHASING ANY PRODUCT LINKED TO THIS INDEX. IN NO EVENT SHALL MORGAN STANLEY HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL DAMAGES INCLUDING LOST PROFITS, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. THE INDEX IS THE EXCLUSIVE PROPERTY OF MORGAN STANLEY. MORGAN STANLEY AND THE INDEX ARE SERVICE MARKS OF MORGAN STANLEY AND HAVE BEEN LICENSED FOR USE FOR CERTAIN PURPOSES BY ALLIANZ LIFE INSURANCE COMPANY OF NORTH AMERICA (“LICENSEE”). NEITHER MORGAN STANLEY NOR ANY OTHER PARTY HAS OR WILL HAVE ANY OBLIGATION OR LIABILITY TO OWNERS OF THIS PRODUCT IN CONNECTION WITH THE ADMINISTRATION OR MARKETING OF THIS PRODUCT, AND NEITHER MORGAN STANLEY NOR ANY OTHER PARTY GUARANTEES THE ACCURACY AND/OR THE COMPLETENESS OF THE INDEX OR ANY DATA INCLUDED THEREIN.

No purchaser, seller or holder of this product, or any other person or entity, should use or refer to any Morgan Stanley trade name, trademark or service mark to sponsor, endorse, market or promote this product, without first contacting Morgan Stanley to determine whether Morgan Stanley’s permission is required. Under no circumstances may any person or entity claim any affiliation with Morgan Stanley without the prior written permission of Morgan Stanley.

The Index applies a bespoke volatility control mechanism to seek to identify changing market conditions using intraday data with the aim of stabilizing the overall level of risk of the Index. The volatility control calculation applied by Morgan Stanley as part of the Index’s methodology may decrease the Index’s performance and thus the return of any product linked to the Index. In addition, because the volatility control calculation is expected to reduce the overall volatility of the Index, it will also reduce the cost of hedging certain products linked to the Index.

Morgan Stanley may transact derivative transactions linked to the Index. Potential purchasers of products linked to this Index should refer to the full offering document for important information concerning such products, including the related risk factors and make their own appraisal of the risks and suitability of such products.

Nasdaq®, Nasdaq-100 Rolling Futures™, Nasdaq-100®, NDXNQER™ are trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by Allianz Life Insurance Company of North America. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).

The Bloomberg US Dynamic Balance III ER Index is comprised of varying exposure to the Bloomberg US Equity Futures Basket ER Index, where the exposure is primarily determined by market implied volatility. The Bloomberg US Equity Futures Basket ER Index is comprised of three sub-indexes: the Bloomberg US Equity Custom Futures ER Index, the Bloomberg US Small Cap Custom Futures ER Index, and the Bloomberg US Tech Custom Futures ER Index, with intended weights of 80%, 10%, and 10%, respectively, rebalanced daily. The Bloomberg US Equity Custom Futures ER Index generally maintains exposure to large cap U.S stocks via futures in excess of the corresponding benchmark portfolio. The Bloomberg US Small Cap Custom Futures ER Index generally maintains exposure to small cap U.S stocks via futures in excess of the corresponding benchmark portfolio. The Bloomberg US Tech Custom Futures ER Index generally maintains exposure to technology sector U.S stocks via futures in excess of the corresponding benchmark portfolio. The Bloomberg US Intermediate Corporate Bond Index measures the investment grade, U.S. dollar-denominated, fixed-rate, taxable corporate bond market including USD-denominated securities publicly issued by U.S. and non-U.S. industrial, utility and financial issuers that meet specified liquidity and quality requirements and have a maturity of greater than one year and less than ten years.

“Bloomberg®”, and Bloomberg US Dynamic Balance III ER Index, and Bloomberg US Intermediate Corporate Bond Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the Indexes (collectively, “Bloomberg”) and have been licensed for use for certain purposes by Allianz Life Insurance Company of North America ("Allianz"). Bloomberg is not affiliated with Allianz Life Insurance Company of North America ("Allianz"), and Bloomberg does not approve, endorse, review, or recommend the Allianz product. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Allianz product.

Any distributions are subject to ordinary income tax and, if taken prior to age 59½, a 10% federal additional tax.

Guarantees are backed by the financial strength and claims-paying ability of Allianz Life Insurance Company of North America.

This content does not apply in the state of New York.

• Not FDIC insured • May lose value • No bank or credit union guarantee • Not a deposit • Not insured by any federal government agency or NCUA/NCUSIF

Products are issued by Allianz Life Insurance Company of North America, PO Box 59060, Minneapolis, MN 55459-0060. (C64997-MVA, C64997-MVA-ID, ICC23C64997-MVA)

Product and feature availability may vary by state and broker/dealer.

PSAAAPL

Allianz Accumulation Advantage+® Annuity

Rates

Explore the allocation options

Get more details

Accumulation plus innovation

Features of Allianz Accumulation Advantage+®

Competitive rates and premium bonus

Innovative crediting

Index Lock

Flexible access

Allocation options

Crediting methods

Talk to your financial professional to learn more

Common questions:

Already own Accumulation Advantage+®?

Why consider a fixed index annuity (FIA)?

Have additional questions?

Current MVA reference rate: 4.46 % as of 10/3/2024

Withdrawal charge schedule

Allianz Accumulation Advantage+® Annuity

Already own Accumulation Advantage+®?

Why consider a fixed index annuity (FIA)?

Have additional questions?

Current MVA reference rate: 4.46 % as of 10/3/2024

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