How Allianz Accumulation Advantage® works

Allianz Life Insurance Company of North America

Need a quick overview of this product, first?

Powerful accumulation potential in a straightforward design

If you're concerned about saving enough for retirement, Allianz Accumulation Advantage® Annuity may be a good choice.

Allianz Accumulation Advantage® Annuity provides the typical features of fixed index annuities – including principal protection from market downturns, the potential for tax-deferred growth, options for annuity income payments, and a death benefit for your beneficiaries.

To help with accumulating savings for retirement, Allianz Accumulation Advantage® also gives you:

the potential to receive indexed interest based on changes in an external market index
a variety of options to direct your premiums toward, including 17 index allocations and a fixed interest allocation

Issue age and minimum

The issue ages are 0-80 and the minimum initial premium payment is $20,000 for qualified and nonqualified money.

Rates

Caps, spreads, participation rates, and interest rates vary based on the amount of your initial premium.

Initial issued premium of $100,000 or greater
Initial issued premium of less than $100,000

The participation rate for the annual point-to-point with a cap, annual point-to-point with a spread and monthly sum crediting methods is 100% guaranteed for the life of the contract. This means we use the entire percentage of index change when we calculate the indexed interest rate. Caps or spreads would still apply. The cap is the maximum percentage of index change we use for a specified time period to determine how much interest we credit to your annuity in a given contract year. A spread is the amount we subtract from the percentage of change calculated for an index to determine how much interest we credit to your annuity in a contract year. For annual point-to-point with a participation rate and MY (multi-year) 2-year point-to-point and 5-year point-to-point with a participation rate, we multiply the index change at the end of the crediting period by the participation rate to determine the indexed interest rate for that crediting period. The participation rate for the annual point-to-point and MY 2-year point-to-point and 5-year point-to-point with a participation rate crediting methods are declared at the end of their respective crediting period.

Visit our Rates Page for current caps, spreads, participation rates, and interest rates.

Allocation options

Monthly sum: S&P 500® Index

Annual point-to-point with a cap: S&P 500® Index, Bloomberg US Dynamic Balance Index II, PIMCO Tactical Balanced Index, BlackRock iBLD Claria® Index

Annual point-to-point with a spread: Bloomberg US Dynamic Balance Index II, PIMCO Tactical Balanced Index, BlackRock iBLD Claria® Index

Annual point-to-point with a participation rate: Bloomberg US Dynamic Balance II ER Index, PIMCO Tactical Balanced ER Index, BlackRock iBLD Claria® ER Index

MY point-to-point with a participation rate (2-year or 5-year point-to-point):¹ Bloomberg US Dynamic Balance II ER Index, PIMCO Tactical Balanced ER Index, S&P 500® Futures Daily Risk Control 5% Index

A fixed interest allocation is also available.

Allocation options may vary by state.²

Index Lock

With both annual point-to-point and 2-year point-to-point with a participation rate crediting methods, you have the ability to manually lock in an index value on any of your individual indexed interest allocation(s) one time at any point during the crediting period. If an Index Lock is activated, then:

For the annual point-to-point crediting method, the indexed interest credit will be applied at the end of the crediting period based on the locked index value and the applicable participation rate.
For the MY point-to-point crediting method, you do not have to wait until the end of the crediting period. The indexed interest credit is calculated based on the locked index value and the corresponding participation rate for the contract year you activate an Index Lock. Any indexed interest credit will be applied on the next contract anniversary. You will then have the opportunity to reallocate to new allocation options. If you choose to lock in an index value, the beginning index value for your next crediting period will be the index value at the end of the previous contract anniversary (not the chosen locked-in index value). Because the lock is executed at the end of the trading day, the index value used to determine interest credited may be higher or lower than the index value at the time of request. Note: An Index Lock can only be activated on index returns that are greater than 0%, unless otherwise indicated. Activating Index Lock manually will cancel any current targets you have set for the current crediting period. If you decide to activate Index Lock manually – or if neither target has been reached at the end of your current crediting period – you will need to set new targets for the next crediting period unless auto-renewal is active.

Learn more about the details and business rules that apply.

If I request a manual Index Lock, when will the index value be locked?
If you request an Index Lock prior to 4:00 p.m. Eastern time on a business day, the index will lock at the ending index value of that day. If you request the lock after 4:00 p.m. Eastern time on a business day, the index will lock at the ending index value at the end of the following business day. Your locked index value is the index value at the end of the business day on the day the index is locked. A business day is defined as each day on which the New York Stock Exchange (NYSE) is open for trading. Our business day closes when regular trading on the NYSE closes.

Can I cancel my manual Index Lock request?
Your Index Lock request can only be canceled by calling our service team at 800.950.1962 before 4:00 p.m. Eastern time on the day the index value will be locked.

Auto Lock
As another option alongside our manual Index Lock capability, Auto Lock lets you set upper and lower index interest rate percentage targets during each crediting period. The index interest rate percentage target set will be equal to the amount of indexed interest earned after the participation rate is applied.

If the end-of-day index interest rate percentage meets or exceeds your upper target during a given crediting period, Auto Lock will automatically lock in that index value until the end of that crediting period. If a lower target is set and the end-of-day index interest rate percentage is less than or equal to your lower target during a given crediting period, Auto Lock will automatically lock in that index value until the next contract anniversary.³ You also have the option to choose auto-renewal. This means the set target will continue from year to year for the length of the contract, unless you change or cancel it.

You also have the flexibility to adjust their target index interest rate percentage – either up or down – as many times as you wish, as long as an Auto Lock hasn’t been activated during that crediting period.⁴

Please note: When setting targets, the upper target must be greater and the lower target must be less than the current index return for the crediting period. Setting targets authorizes Allianz to automatically activate an Index Lock once the target is reached, based on the index interest rate percentage at the end of the business day. Targets need to be renewed after each crediting period unless auto-renewal is active. Upper and lower targets do not have to be set at the same time. Because Auto Locks are activated based on end-of-day index interest rate percentages, you may end up with less than your lower target and greater than your upper target. Also, when setting upper targets with MY point-to-point crediting methods, keep in mind that participation rates generally increase each year and could activate an Index Lock immediately on the contract anniversary.

Learn more about Index Lock and Auto Lock and the details and business rules that apply.

Access your money

In the contract year following the most recent premium payment, up to 10% of the contract's premium paid, minus withdrawals, can be withdrawn each contract year without incurring withdrawal charges or penalties as long as the money is withdrawn in the contract year following the most recent premium payment; not to exceed cash surrender value. If, in the same contract year as one or more free withdrawals, the contract is surrendered, we will retroactively assess the withdrawal charge.

10-year withdrawal period (9.30%, 8.85%, 7.90%, 6.95%, 5.95%, 5.00%, 4.00%, 3.00%, 2.00%, 1.00%, 0%). At the beginning of the 11th contract year, the withdrawal charge will be zero. The withdrawal charge and withdrawal charge period apply to the accumulation value.

Market value adjustment (MVA): If the contract is partially or fully surrendered (not including 10% free withdrawals and required minimum distributions), it will be subject to an MVA during the withdrawal charge period. An MVA will also apply if the contract is annuitized prior to the sixth contract year or if annuity payments are taken over a period of less than 10 years. The MVA reference rate is a component used to calculate the MVA. For additional information on MVAs and their calculation, see the contract Statement of Understanding.

MVA reference rate

Payout options

You can choose to receive annuity payments based on your choice of several annuity options. If you use a standard annuitization option after five contract years, your annuity payments are based on your accumulation value. These annuity options can have certain tax advantages.

Death benefit

The greater of the contract’s accumulation value or guaranteed minimum value (GMV) is available prior to annuitization as a lump sum or as annuity income payments over at least five years.

Current MVA reference rate: 5.34 % as of 6/6/2023

Uses the yield of the Bloomberg US Intermediate Corporate Bond Index

Historical MVA reference rates

Ready to take the next step?

Because annuities are complex products, Allianz Accumulation Advantage® is available exclusively through financial professionals. Ask your financial professional if it may be a good fit as part of your overall portfolio.

Questions to consider

Talk to your financial professional to see if Allianz Accumulation Advantage® Annuity is appropriate for you. Here are some questions they can help answer:

How are the annuity’s principal and any credited interest protected?
How can this product provide income for life and assist with the rising cost of living?
What backs up any guarantees available with this product?
What else should I consider that might impact my retirement?

Don’t have a financial professional?

¹ Amounts allocated to MY point-to-point crediting methods are subject to an Allocation Charge that is deducted annually from the accumulation value and guaranteed minimum value. The current Allocation Charge Percentage for MY 2-year point-to-point with a participation rate is 0.95%. The current Allocation Charge Percentage for MY 5-year point-to-point with a participation rate is 0%.

² BlackRock iBLD Claria® Index and BlackRock iBLD Claria® ER Index are not available in Iowa.

³ Setting targets authorizes Allianz to automatically activate an Index Lock once the target is reached based on the index interest rate percentage at the end of the business day. Targets need to be renewed after each crediting period unless auto renewal is active.

⁴ You may activate an Index Lock manually online at any time, as long as an Auto Lock hasn’t already been activated. Activating Index Lock manually will cancel any current targets you have set for the current crediting period. If you decide to activate Index Lock manually – or if neither target has been reached at the end of your current crediting period – you will need to set new targets for the next crediting period.

Purchasing an annuity within a retirement plan that provides tax deferral under sections of the Internal Revenue Code results in no additional tax benefit. An annuity should be used to fund a qualified plan based upon the annuity’s features other than tax deferral. All annuity features, risks, limitations, and costs should be considered prior to purchasing an annuity within a tax-qualified retirement plan.

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

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).

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

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

The S&P 500^® Index is comprised of 500 stocks representing major U.S. industrial sectors. 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^® Futures Daily Risk Control 5% Index" is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), 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”); 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 Futures Daily Risk Control 5% Index.

S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“S&P”). This trademark has been licensed for use by S&P Dow Jones Indices LLC and its affiliates. S&P® and S&P 500^® are trademarks of S&P. These trademarks have been sublicensed for certain purposes by Allianz Life Insurance Company of North America (“Allianz”). The S&P 500 is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Allianz. Allianz products are not sponsored, endorsed, sold, or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, or their respective affiliates and neither S&P Dow Jones Indices LLC, Dow Jones, S&P, or their respective affiliates make any representation regarding the advisability of investing in such product.

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 BlackRock iBLD Claria^® Index is comprised of an equity component, a bond component, and a cash component. It shifts weighting between them daily based on historical realized volatility of the components. Annually, BlackRock will set allocations to the ETFs within each of the equity component and the bond component. The equity component will be comprised of the following ETFs: iShares Russell 2000 ETF, iShares Core S&P 500 ETF, iShares MSCI EAFE ETF, iShares MSCI Emerging Markets ETF. The bond component will be comprised of the following ETFs: iShares 1-3 year Treasury Bond ETF, iShares 3-7 year Treasury Bond ETF, iShares 7-10 year Treasury Bond ETF. The cash component is represented by the 3 month LIBOR rate. The BlackRock iBLD Claria^® ER Index is comprised of an equity component, a bond component, and a cash component. It shifts weighting between the components daily based on historical realized volatility of the components. The index tracks the return in excess of a benchmark rate. Annually, BlackRock will set allocations to the ETFs within each of the equity component and the bond component. The equity component will be comprised of the following ETFs: iShares Russell 2000 ETF, iShares Core S&P 500 ETF, iShares MSCI EAFE ETF, iShares MSCI Emerging Markets ETF. The bond component will be comprised of the following ETFs: iShares 1-3 year Treasury Bond ETF, iShares 3-7 year Treasury Bond ETF, iShares 7-10 year Treasury Bond ETF. The cash component is represented by the 3 month LIBOR rate.

The BlackRock iBLD Claria^® Index and the BlackRock iBLD Claria^® ER Index (the “Indices”) are products of BlackRock Index Services, LLC and have been licensed for use by Allianz Life Insurance Company of North America (“Allianz”). BlackRock^®, BlackRock iBLD Claria^® Index, BlackRock iBLD Claria^® ER Index, and the corresponding logos are registered and unregistered trademarks of BlackRock. The Allianz product is not sponsored, endorsed, sold or promoted by BlackRock Index Services, LLC, BlackRock, Inc., or any of its affiliates, or any of their respective third party licensors (including the Indices calculation agent, as applicable) (collectively, “BlackRock”). BlackRock has no obligation or liability in connection with the administration or marketing of the Allianz product. BlackRock makes no representation or warranty, express or implied, to the owners of the Allianz product or any member of the public regarding the advisability of investing in the Allianz product or the ability of the Index to track general market performance. BlackRock does not guarantee the adequacy, accuracy, timeliness, and/or completeness of the Indices or any data or communication related thereto nor does it have any liability for any errors, omissions or interruptions of the Indices.

The Bloomberg US Dynamic Balance Index II is comprised of the Bloomberg US Aggregate RBI Series 1 Index, the S&P 500^® Index, and cash, and shifts weighting daily between them based on realized market volatility. The Bloomberg US Aggregate RBI Series 1 Index is comprised of a portfolio of derivative instruments plus cash that are designed to track the Bloomberg US Aggregate Bond Index. The Bloomberg US Aggregate Bond Index is comprised of Bloomberg US investment-grade, fixed-rate bond market securities, including government agency, corporate, and mortgage-backed securities.

The Bloomberg US Dynamic Balance Index II (a "Bloomberg Index") is the property of Bloomberg Index Services Limited and is derived and calculated based on the S&P 500 Index under license from S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices"). S&P^® is a registered trademark of Standard & Poor's Financial Services LLC and Dow Jones^® is a registered trademark of Dow Jones Trademark Holdings LLC. S&P 500^® is a registered trademark of Standard & Poor's Financial Services LLC and has been licensed for use to Bloomberg Index Services Limited. Neither S&P Dow Jones Indices, its affiliates nor their third party licensors sponsor or promote the Index and no such party shall have any liable in connection with the Bloomberg Index.

“Bloomberg^®” and Bloomberg US Dynamic Balance II ER Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (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.

The Bloomberg US Dynamic Balance II ER Index is comprised of the Bloomberg US Aggregate Custom RBI Unfunded Index and the Bloomberg US Equity Custom Futures ER Index and shifts weighting daily between them based on realized market volatility. The Bloomberg US Aggregate Custom RBI Unfunded Index is comprised of a portfolio of derivative instruments that are designed to provide exposure to U.S. Investment-grade and Treasury bond markets in excess of a benchmark rate. The Bloomberg US Equity Custom Futures ER Index is designed to provide exposure to large cap U.S stocks in excess of a benchmark rate.

• 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. (C64237-MVA, ICC17C64237-MVA)

In the state of New York, only Allianz Life Insurance Company of New York is authorized to offer annuities and life insurance. www.allianzlife.com/new-york

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

These investment options invest in very short-term securities, such as Treasury bills, certificates of deposit, and commercial paper. The share price is kept stable at $1, and interest is paid at competitive rates. An investment in the Fund is neither insured nor guaranteed by the FDIC or any other governmental agency.

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