How Allianz Life Pro+ Advantage works

Protect what matters today and in the future

Allianz Life Pro+ AdvantageSM Fixed Index Universal Life Insurance Policy provides your beneficiaries with a death benefit that’s generally income-tax-free. The death benefit will help your family maintain their way of life when you pass away, help them keep a business going, or allow them to give a gift to a favorite charity.

Build resources for the future.

Allianz Life Pro+ Advantage offers the potential to build accumulation value tax-deferred without losses due to market volatility.4 It offers a variety of allocation options for flexibility, choices, and diversification – with the options for Select index allocations, Bonused index allocations, Standard index allocations, or all.5

Our innovative Index Lock feature allows your clients the opportunity to capture indexed interest and protect themselves from a zero interest credit. The index rate can be locked in at any point within the policy anniversary year. The index will unlock at the beginning of the next policy year.

Address future financial needs

Allianz Life Pro+ Advantage offers flexible choices that give you access to your available cash value accumulation when you want – for what you want. Loans or withdrawals from any available cash value can be used to supplement a retirement or college funding strategy or other financial needs.3 Allianz Life Pro+ Advantage also allows you to adjust your premium payments to fit your financial goals.

Prepare for the unexpected with living benefits

Allianz Life Pro+ Advantage lets you accelerate a portion of the death benefit in the event of a chronic or terminal illness.

Customize your coverage for future needs.

Allianz Life Pro+ Advantage has additional riders and benefits, so you can customize your policy for your specific needs.

Issue age and minimum

You must be age 80 or younger to purchase Allianz Life Pro+ Advantage.

The minimum initial premium payment is based on age, gender, risk class, death benefit, and riders, but is never less than $25/month or $300/year.

Risk classes

Available risk classes include:

  • Nontobacco (ages 18-80): Preferred Plus, Preferred, Standard
  • Tobacco (ages 18-75): Preferred Tobacco, Standard Tobacco
  • Juvenile (ages 0-17)

Death benefit

Minimum death benefit on the insured begins at $100,000, with a $65,000,000 maximum death benefit (subject to limitations).

Death benefit options

You have the flexibility to choose which death benefit option best suits your needs. Because your needs and goals may change, you also have the opportunity to change your death benefit option after the first policy year.

  • Death benefit option A (level): Your death benefit will be equal to the specified amount.
  • Death benefit option B (increasing): Your death benefit will be equal to the specified amount plus the accumulation value.
  • Death benefit option C (return of premium): Your death benefit will be equal to the specified amount plus the premium you have paid into the policy. This option can only be elected at issue.

Premium payment options

Available payment options include:

  • Annual
  • Semiannual
  • Quarterly
  • Monthly
  • Premium Deposit Fund Rider – combines all of the advantages of life insurance with the simplicity of a single lump-sum payment. By submitting a lump-sum amount to the Premium Deposit Fund, we're able to automatically transfer your annual premium payments into your life insurance policy for you. This feature is available at no additional cost, but is not available in all states. The funding period can be designated between 3-10 policy years.

Guarantees

If you pay the required minimum premium for the first 10 policy years and do not take policy loans or withdrawals, your policy will be guaranteed not to lapse during that 10-year period or until you reach age 75, whichever is earlier, but not less than five policy years.

Survivor benefit

The death benefit increases 10% if the beneficiary chooses to take the policy proceeds over 10 years or longer. The death benefit increase is taxable.

At age 120

When the insured turns 120, the death benefit equals the accumulation value.

Accessing the death benefit

  • Chronic Illness Accelerated Death Benefit Rider1,2
  • Terminal Illness Accelerated Death Benefit Rider2

Please refer to the Allianz Life Pro+ Advantage consumer brochure for details on these benefits, which may be taxable. You should consult with your tax advisor.

Charges/fees

  • Premium charge:
    • For premium up to standard premium amount:
      • Policy years 1-9: 8% of premium
      • Policy years 10+: 4% of premium
    • For supplemental premium in excess of standard premium amount:
      • Policy years 1-9: 14% of premium
      • Policy years 10+: 4% of premium
  • Monthly insurance cost charge: An insurance cost charge will be deducted every month on the monthly anniversary and is based on factors such as age, gender, risk class, and death benefit amount.
  • Monthly policy charge: A policy charge of $7.50 per policy will be deducted every month on the monthly anniversary.
  • Monthly expense charge: The expense charge is a per $1,000 charge of your policy’s specified amount, and is based on factors such as the insured’s gender, age, specified amount, and risk class. The expense charge is calculated at the time of policy issue. The expense charge is deducted from the current accumulation value for the first 15 policy years, or through age 32 for juveniles
  • Surrender charge: 12-year decreasing surrender charge (based on age, gender, death benefit amount, and risk class).

Allocation options

The following table shows the index options and crediting methods available that you may select in 1% increments. You may change your selections on any policy anniversary.

You can choose from a variety of index allocations, including Select index allocations that include the opportunity for a 40% guaranteed interest bonus percentage and 1% annual asset charge, Bonused index allocations that include a 15% guaranteed interest bonus percentage each year and no asset charge, or Standard index allocations that do not include an interest bonus. Caps and/or participation rates will vary depending on the option selected. The charts below represent available index allocation options.

It’s important to note that with an external index, your policy does not directly participate in any equity or fixed income investments – you are not buying shares in an index.

Crediting methods Bloomberg US Dynamic Balance II ER Index PIMCO Tactical Balanced ER Index S&P 500® Index Nasdaq-100® Index Blended Index
Annual point-to-point with a cap N/A N/A Select
Bonused
Standard
N/A Select
Bonused
Standard
Annual point-to-point with a participation rate Select
Bonused
Select
Bonused
N/A N/A N/A
Monthly sum with a cap N/A N/A Bonused Bonused Standard N/A
Trigger N/A N/A Bonused N/A N/A

Blended index is comprised of Dow Jones Industrial Average (35%), Bloomberg Barclays US Aggregate Bond Index (35%), EURO STOXX 50® (20%), and Russell 2000® Index (10%).

The indexes available within the policy 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 your interest credited, you cannot buy, directly participate in, or receive dividend payments from any of them through the policy.

No single index allocation option will be most effective in all market environments. Index allocation options may be subject to a cap and/or participation rate.

Fixed interest allocation

You may also select fixed interest for all or a portion of your policy values. The fixed interest rate is guaranteed to never be less the 0.1%. Ask your financial professional for the current interest rate.

Rates

The participation rate will vary depending on which crediting method you choose. The participation rate determines how much of the percentage of indexed growth for an index option we use to calculate any indexed interest we credit to a life insurance policy.

  • If you choose the monthly sum or annual point-to-point crediting method, which include caps on indexed interest, Allianz will guarantee a 100% participation rate over the life of the policy.
  • If the Bloomberg US Dynamic Balance II ER Index or PIMCO Tactical Balanced ER Index options are chosen, Allianz will establish the participation rate on each policy anniversary. This participation rate will be guaranteed to never be less than 5%.

How much indexed interest your policy can earn may be limited by a cap. 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 policy in a given contract year. Ask your financial professional for the current cap.

Interest bonus

You can choose from a variety of index allocations, including Select index allocations that include the opportunity for a 40% guaranteed interest bonus percentage and 1% annual asset charge, Bonused index allocations that include a 15% guaranteed interest bonus percentage each year and no asset charge, or Standard index allocations that do not include an interest bonus. Caps and/or participation rates will vary depending on the option selected.

Bonus products may include higher surrender charges, longer surrender periods, lower caps, or other restrictions that are not included in similar products that don’t offer a bonus. The index allocaitons that offer the interest bonus will generally have lower caps and participation rates. There is no guarantee that a policy will be credited with an interest bonus every year as it is based on the growth of an index.

Accessing the cash value

Allianz Life Pro+ Advantage provides flexibility and access to the cash value via policy loans and withdrawals3 while the insured is living. There are several ways to access your available cash value without incurring surrender charges:

  • Indexed loan
  • Fixed interest loans
  • Withdrawals/partial surrenders

Additional riders and benefits

May not be available in all states and the name may vary by state.

  • Waiver of Specified Premium Rider
  • Enhanced Liquidity Rider
  • Other Insured Term Rider
  • Child Term Rider
  • Loan Protection Rider
  • Supplemental Term Rider
  • Waiver of New Charges Benefit
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Explore your options

Now that you've seen how Allianz Life Pro+ Advantage works, explore which allocations you may want to consider based on your perspective on equity markets, market volatility, and interest rates.
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Ready to take the next step?

Because fixed index universal life (FIUL) insurance is a long-term product, Allianz Life Pro+ Advantage is available exclusively through financial professionals. Ask your financial professional if it may be a good fit as part of your overall financial strategy. 

Questions to consider

Talk to your financial professional to see if Allianz Life Pro+ Advantage is right for you. Here are some questions they can help answer:

  1. How can the policy provide your beneficiaries with financial reassurance?
  2. How does the policy provide opportunities for tax-deferred accumulation?
  3. Can the policy help me address other financial needs?
tile-azl-woman-talking-to-people

1The Chronic Illness Accelerated Death Benefit Rider is included with the policy, subject to age and underwriting requirements. There is a fee charged as a discount factor against every accelerated payment if the rider is exercised. The discount factor is based on age, premium class, current cash value of the policy, and current discount factor interest rate at that time. The maximum discount factor is determined by the life expectancy of the insured and the discount factor at the time of acceleration.

2May not be available in all states and the name may vary by state.

3Policy loans and withdrawals will reduce the available cash value and death benefit and may cause the policy to lapse, or affect guarantees against lapse. Withdrawals in excess of premiums paid will be subject to ordinary income tax. 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. If a policy is a modified endowment contract (MEC), policy loans and withdrawals will be taxable as ordinary income to the extent there are earnings in the policy. If any of these features are exercised prior to age 59½ on a MEC, a 10% federal additional tax may be imposed. Tax laws are subject to change and you should consult a tax professional.

4Fees and expenses will reduce the cash value.

5Bonus products may include higher surrender charges, longer surrender periods, lower caps, or other restrictions that are not included in similar products that don’t offer a bonus.

The S&P 500® Index (S&P 500®) is comprised of 500 stocks representing major U.S. industrial sectors.

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 Russell 2000® Index is an equity index that measures the performance of the 2,000 smallest companies in the Russell 3000® Index, which is made up of 3,000 of the biggest U.S. stocks. The Russell 2000 is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not affect the performance and characteristics of the true small-cap index.

The Russell 2000® Index is a trademark of Russell Investments and has been licensed for use by Allianz Life Insurance Company of North America. Allianz products are not sponsored, endorsed, sold or promoted by Russell Investments and Russell Investments makes no representation regarding the advisability of investing in Allianz 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 EURO STOXX 50®, Europe's leading Blue-chip index for the Eurozone, provides a blue-chip representation of supersector leaders in the Eurozone. The index covers 50 stocks from 11 Eurozone countries: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain.

The EURO STOXX 50® is the intellectual property (including registered trademarks) of STOXX Limited, Zurich, Switzerland (“STOXX”), Deutsche Börse Group or their licensors, which is used under license. Allianz products are neither sponsored nor promoted, distributed or in any other manner supported by STOXX, Deutsche Börse Group or their licensors, research partners or data providers and STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not give any warranty, and exclude any liability (whether in negligence or otherwise) with respect thereto generally or specifically in relation to any errors, omissions or interruptions in the EURO STOXX 50 or its data.

The Bloomberg US Dynamic Balance Index II is comprised of the Bloomberg Barclays US Aggregate RBI Series 1 Index and the S&P 500® Index and shifts weighting daily, up to 3%, between them based on realized market volatility. The Bloomberg Barclays US Aggregate RBI Series 1 Index is comprised of a portfolio of derivative instruments plus cash that are designed to track the Bloomberg Barclays US Aggregate Bond Index. The Bloomberg Barclays US Aggregate Bond Index is comprised of Bloomberg Barclays US investment-grade, fixed-rate bond market securities, including government agency, corporate, and mortgage-backed securities. The Bloomberg US Dynamic Balance II ER Index is comprised of the Bloomberg Barclays US Aggregate Custom RBI Unfunded Index and the Bloomberg US Equity Custom Futures ER Index and shifts weighting daily, up to 3%, between them based on realized market volatility. The Bloomberg Barclays 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.

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 liability in connection with the Bloomberg Index.

BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). BARCLAYS® is a trademark and service mark of Barclays Bank Plc (collectively with its affiliates, “Barclays”), used under license. Bloomberg or Bloomberg’s licensors, including Barclays as it relates to the Bloomberg Barclays Indices, own all proprietary rights in the Bloomberg US Dynamic Balance Index II and the Bloomberg Barclays Indices (collectively the “Indices”). Neither Bloomberg nor Barclays is affiliated with Allianz Life Insurance Company of North America (“Allianz”), and neither approves, endorses, reviews, or recommends the Allianz product. Neither Bloomberg nor Barclays guarantees the timeliness, accurateness or completeness of any data or information relating to the Indices, and neither shall be liable in any way to Allianz, investors in the Allianz product, or other third parties in respect of the use or accuracy of the Indices or any data included therein.

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

• 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. (P64339)

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