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As Of Filer Filing For·On·As Docs:Size 4/26/24 Allianz Life Variable Account B 485BPOS 5/01/24 6:3.2M → Allianz Life Variable Account B ⇒ Allianz High Five Variable Annuity |
Document/Exhibit Description Pages Size 1: 485BPOS High Five 485B HTML 2.04M 2: EX-99.27(C)3 Exhibit27(C)3 - the Current Specimen of the HTML 71K Selling Agreement 3: EX-99.27(K) Exhibit 27(K) - Op&Consent Letter-Na HTML 9K 4: EX-99.27(L) Exhibit 27(L) - Audit Consent-Na HTML 6K 5: EX-99.27(P) Exhibit-27(P) Power of Attorney-Na HTML 55K 6: EX-99.29 Exhibit 29 - Org Chart HTML 13K
485BPOS
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File Nos. 333-90260
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Allianz High Five
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Class I.D. C000007181
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UNITED STATES
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SECURITIES AND EXCHANGE COMMISSION
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WASHINGTON, D.C. 20549
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FORM N-4
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REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
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Pre-Effective Amendment No.
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Post-Effective Amendment No.
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28
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X
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and/or
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REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
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Amendment No.
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634
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X
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(Check appropriate box or boxes.)
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ALLIANZ LIFE VARIABLE ACCOUNT B
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(Exact Name of Registrant)
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(Name of Depositor)
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(Address of Depositor's Principal Executive Offices) (Zip Code)
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(763) 582-6089
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(Depositor's Telephone Number, including Area Code)
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Doug B. Hodgson, Senior Counsel, Associate General Counsel
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5701 Golden Hills Drive
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(Name and Address of Agent for Service)
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It is proposed that this filing will become effective (check the appropriate box):
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immediately upon filing pursuant to paragraph (b) of Rule 485
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X
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on May 1, 2024 pursuant to paragraph (b) of Rule 485
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60 days after filing pursuant to paragraph (a)(1) of Rule 485
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on (date) pursuant to paragraph (a)(1) of Rule 485
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If appropriate, check the following:
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this post-effective amendment designates a new effective date for a previously filed post-effective amendment.
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Approximate Date of the Proposed Public Offering: May 1, 2024
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Titles of Securities Being Registered: Individual Flexible Purchase Payment Variable Deferred Annuity Contracts
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THE CONTRACT IS NO LONGER OFFERED FOR
SALE TO NEW INVESTORS.
We continue to administer the in force Contracts. We no
longer accept additional Purchase Payments unless your
Contract was issued in Connecticut, Florida, or New Jersey.
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FPA = Fixed Period Account
GAV = Guaranteed Account Value
GMDB = Guaranteed Minimum Death Benefit
GMIB = Guaranteed Minimum Income Benefit
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GWB = Guaranteed Withdrawal Benefit
MAV = Maximum Anniversary Value
MVA = Market Value Adjustment
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FEES AND
EXPENSES
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Prospectus
Location
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Charges for
Early
Withdrawals
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If you withdraw money from the Contract within 7 years of your last
Purchase Payment, you
will be assessed a withdrawal charge of up to 8.0% of the Purchase
Payment withdrawn,
declining to 0% over that time period.
For example, if you invest $100,000 in the Contract and make an
early withdrawal, you
could pay a withdrawal charge of up to $8,000.
If you withdraw or transfer money out of a FPA at any time other
than 30 days before the
end of an Account Period an MVA based on changes in interest rates
may apply. An MVA
may be positive, negative, or equal to zero. The maximum negative
MVA is -30%. For
example, if you take a $100,000 withdrawal from a FPA during an MVA
period, you could
lose up to $30,000 due to a negative MVA.
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3. Fee Tables
11. Expenses –
Withdrawal
Charge
10. Our General
Account – Market
Value Adjustment
(MVA)
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Transaction
Charges
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In addition to withdrawal charges you may also be charged for other
Contract transactions.
• We will charge you a fee of $25 per transfer after you exceed 12
transfers between
Investment Options (the variable investments available to you) in a
Contract Year.
• For Original Contracts, if you take variable Traditional Annuity
Payments under Annuity
Options 2 or 4, and then take a withdrawal (“liquidation”), you may
be assessed a
commutation fee of up to 4% of the amount liquidated. For example,
if you requested a
liquidation of $1,000, you could pay a commutation fee of up to $40
and would receive
$960.
• For Original Contracts, if you take variable Traditional Annuity
Payments under Annuity
Option 6 and then take a liquidation within 8 years of your last
Purchase Payment, you
may be assessed a withdrawal charge of up to 8% of the amount
liquidated. For example,
if you requested a liquidation of $1,000, you could pay a
commutation fee of up to $80
and would receive $920.
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3. Fee Tables
11. Expenses –
Transfer Fee, and
Commutation
Fees and
Withdrawal
Charges during
the Annuity Phase
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Ongoing Fees
and Expenses
(annual
charges)
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The table below describes the fees and expenses that you may pay each year, depending
on the options you choose. Please refer to your Contract
specifications page for information
about the specific fees you will pay each year based on the options you
have elected.
These ongoing fees and expenses do not reflect any adviser fees paid
to an investment
adviser from your Contract Value or other assets of the Owner. If
such charges were
reflected, these ongoing fees and expenses would be higher.
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3. Fee Tables
11. Expenses
Appendix A –
Investment
Options Available
Under the
Contract
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Annual Fee
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Minimum
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Maximum
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Base Contract(1)
(varies by Contract version)
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1.27%
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1.42%
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Investment Options(2)
(Investment Option fees and expenses)
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0.23%
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1.64%
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Optional Benefits Available for an Additional
Charge(3)
(for a single optional benefit, if elected)
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0.20%
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0.20%
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(1)
As a percentage of each Investment Option’s average net assets, plus
an amount attributable to the contract
maintenance charge.
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(2)
As a percentage of an Investment Option’s average daily net assets.
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(3)
As a percentage of each Investment Option’s average net assets. This
is the current charge for an optional
benefit (the Enhanced GMDB).
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FEES AND
EXPENSES
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Prospectus
Location
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Because your Contract is customizable, the choices you make affect
how much you will
pay. To help you understand the cost of owning your Contract, the
following table shows the
lowest and highest cost you could pay each year, based on current
charges. This estimate
assumes that you do not take withdrawals from the Contract, which could add withdrawal
charges that substantially increase costs and if
taken from the FPAs could result in
substantial losses due to the application of
negative MVAs.
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Lowest Annual Cost
$1,439
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Highest Annual Cost
$2,860
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Assumes:
•Investment of $100,000
•5% annual appreciation
•Least expensive combination of Contract
versions and Investment Option fees and
expenses
•No optional benefits
•No additional Purchase Payments,
transfers, or withdrawals
•No adviser fees
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Assumes:
•Investment of $100,000
•5% annual appreciation
•Most expensive combination of Contract
versions, optional benefits, and
Investment Option fees and expenses
•No additional Purchase Payments,
transfers, or withdrawals
•No adviser fees
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RISKS
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Risk of Loss
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You can lose money by investing in the Contract, including loss of
principal.
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4. Principal Risks
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Not a
Short-Term
Investment
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• This Contract is not a short-term investment and is not
appropriate if you need ready
access to cash.
• If within seven years after we receive a Purchase Payment you take
a full or partial
withdrawal, withdrawal charges will apply. A withdrawal charge will
reduce your Contract
Value or the amount of money that you actually receive. Withdrawals
under any Contract
may reduce or end Contract guarantees.
• If you withdraw or transfer money out of a FPA at any time other
than 30 days before the
end of an Account Period an MVA based on changes in interest rates
may apply. We do
not apply MVAs to GAV Transfers out of the FPAs for certain
Contracts as indicated in
section 10. An MVA is an adjustment based on changes in interest
rates and may be
positive, negative, or equal to zero. An MVA will be negative if
the interest rate on the FPA
from which money is being removed is less than the current interest
rate for new
allocations to an FPA of the same Account Period. The maximum
negative MVA is -30%.
• Withdrawals are subject to income taxes, and also may be subject
to a 10% additional
federal tax for amounts withdrawn before age 59 1∕2.
• Considering the benefits of tax deferral, long-term income, and
living benefit guarantees
the Contract is generally more beneficial to investors with a long
investment time horizon.
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Risks
Associated
with
Investment
Options
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• An investment in the Contract is subject to the risk of poor
investment performance and
can vary depending on the performance of the Investment Options
available under the
Contract.
• Each Investment Option has its own unique risks.
• You should review the Investment Options prospectus and
disclosures, including risk
factors, before making an investment decision.
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Insurance
Company
Risks
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An investment in the Contract is subject to the risks related to us.
All obligations,
guarantees or benefits of the Contract are the obligations of
Allianz Life and are subject to
our claims-paying ability and financial strength. More information
about Allianz Life,
including our financial strength ratings, is available upon request
by visiting
www.allianzlife.com/about/financial-ratings, or contacting us at
(800) 624-0197.
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RESTRICTIONS
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Prospectus
Location
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Investments
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• We currently allow you to invest in no more than 15 Investment
Options at any one time.
We may change this maximum in the future, but it will not be less
than 5 Investment
Options.
• The FPAs are a general account Investment Choice. Money held in a
FPA receives
interest that varies based on the Account Period and when money
moved into the FPA.
Account Periods range from one to ten years. The FPA interest rate
may change annually.
For Contracts with Living Guarantees we restrict your ability to
transfer money from the
FPAs.
• The first 12 transfers between Investment Options every Contract
Year are free. After
that, we deduct a $25 transfer fee for each additional transfer.
Your transfers between the
Investment Options are also subject to policies designed to deter
excessively frequent
transfers and market timing. These transfer restrictions do not
apply to the Contract's
automatic transfer programs.
• We reserve the right to remove or substitute Investment Options.
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9. Investment
Options
10. Our General
Account – Market
Value Adjustment
(MVA)
Appendix 1 –
Investment
Options Available
Under the
Contract
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Optional
Benefits
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• With the GAV Benefit we monitor your Contract daily and
periodically make transfer
between your selected Investment Options and the FPAs.
• Optional benefits may be modified or terminated under certain
circumstances.
• Withdrawals that exceed limits specified by the terms of an
optional benefit may affect the
availability of the benefit by reducing the benefit by an amount
greater than the value
withdrawn and could end the benefit. Withdrawals that reduce both
the Contract Value
and the guaranteed value (either the total Purchase Payments
adjusted for withdrawals if
you have the Traditional GMDB; the greater of total Purchase
Payments adjusted for
withdrawals or Maximum Anniversary Value if you have the Enhanced
GMDB) to zero will
end your selected death benefit.
• If a Contract Owner elects to pay adviser fees from Contract
Value, such deductions may
reduce the selected death benefit (either the standard Traditional
GMDB, or optional
Enhanced GMDB), or other guaranteed benefits, as applicable, are
subject to income
taxes, and may also be subject to a 10% additional federal tax for
amounts withdrawn
before age 59 1∕2.
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14. Benefits
Available Under
the Contract
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TAXES
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Tax
Implications
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• Consult with a tax professional to determine the tax implications
of an investment in and
withdrawals from or payments received under the Contract.
• If you purchased the Contract through a tax-qualified plan,
403(b), or individual retirement
account (IRA), you do not get any additional tax benefit under the
Contract.
• Generally, earnings under a Non-Qualified Contract are taxed at
ordinary income rates
when withdrawn, and may also be subject to a 10% additional federal
tax for amounts
withdrawn before age 59 1∕2.
• Generally, distributions from Qualified Contracts are taxed at
ordinary income tax rates
when withdrawn, and may also be subject to a 10% additional federal
tax for amounts
withdrawn before age 59 1∕2.
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17. Taxes
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CONFLICTS OF
INTEREST
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Investment
Professional
Compensation
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Your Financial Professional may receive compensation for selling
this Contract to you, in
the form of commissions, additional cash benefits (e.g., cash
bonuses), and non-cash
compensation. We and/or our wholly owned subsidiary distributor may
also make marketing
support payments to certain selling firms for marketing services and
costs associated with
Contract sales. This conflict of interest may influence your
Financial Professional to
recommend this Contract over another investment for which the
Financial Professional is
not compensated or compensated less.
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18. Other
Information –
Distribution
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Exchanges
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Some Financial Professionals may have a financial incentive to offer
you a new contract in
place of the one you already own. You should only exchange your
Contract if you
determine, after comparing the features, fees and risks of both
contracts, that it is better for
you to purchase the new contract rather than continue to own your
existing Contract.
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Number of Complete
Years Since
Purchase Payment
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Withdrawal Charge Amount (3)
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0
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8%
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1
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8%
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2
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7%
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3
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6%
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4
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5%
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5
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4%
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6
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3%
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7 years or more
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0%
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Administrative Expenses (or contract maintenance charge)(1)
(per year)
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$40
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Base Contract Expenses (or M&E charge)
(as a percentage of each Investment Option’s average net assets)(2)
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Original Contract Version 1
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1.40%
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Original Contract Version 2
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1.25%
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May 2005 Contract
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1.40%
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February 2007 Contract
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1.25%
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Optional Benefit Expenses
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Optional Death Benefit
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Enhanced GMDB
(as a percentage of each Investment Option’s average net assets)(2)
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0.20%
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Minimum
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Maximum
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(expenses that are deducted from Investment Option assets, including management fees,
distribution and/or
service (12b-1) fees, and other expenses)
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0.23%
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1.64%
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February 2007 Contracts and Original Contracts Version 2
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1 Year
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3 Years
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5 Years
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10 Years
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Maximum Investment Option expense
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$11,160
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$16,658
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$21,405
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$34,418
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Minimum Investment Option expense
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$9,748
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$12,416
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$14,326
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$20,270
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Original Contracts Version 1 and May 2005 Contracts
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1 Year
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3 Years
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5 Years
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10 Years
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Maximum Investment Option expense
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$11,309
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$17,099
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$22,128
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$35,799
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Minimum Investment Option expense
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$9,899
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$12,876
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$15,103
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$21,879
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February 2007 Contracts and Original Contracts Version 2
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1 Year
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3 Years
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5 Years
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10 Years
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Maximum Investment Option expense
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N/A*
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$9,658
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$16,405
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$34,418
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Minimum Investment Option expense
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N/A*
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$5,416
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$9,326
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$20,270
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Original Contracts Version 1 and May 2005 Contracts
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1 Year
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3 Years
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5 Years
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10 Years
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Maximum Investment Option expense
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N/A*
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$10,099
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$17,128
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$35,799
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Minimum Investment Option expense
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N/A*
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$5,876
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$10,103
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$21,879
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February 2007 Contracts and Original Contracts Version 2
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1 Year
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3 Years
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5 Years
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10 Years
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Maximum Investment Option expense
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$3,160
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$9,658
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$16,405
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$34,418
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Minimum Investment Option expense
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$1,748
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$5,416
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$9,326
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$20,270
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Original Contracts Version 1 and May 2005 Contracts
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1 Year
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3 Years
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5 Years
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10 Years
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Maximum Investment Option expense
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$3,309
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$10,099
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$17,128
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$35,799
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Minimum Investment Option expense
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$1,899
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$5,876
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$10,103
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$21,879
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The Contract is no longer offered for sale, but we
continue to accept additional Purchase Payments if your
Contract was issued in Connecticut, Florida, or New
Jersey. However, we do not accept additional Purchase
Payments if you have a 403(b), Inherited IRA, or
Inherited Roth IRA Contract.
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Partial Annuitizations (applying only part of your Contract Value to
Annuity Payments) are not available to Joint
Owners. There can be only one Owner, the Owner must be the Annuitant,
and we do not allow the Owner to add a joint
Annuitant.
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UPON THE DEATH OF A SOLE OWNER
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Action under the portion of the Contract that is in the
Accumulation Phase
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Action under any portion of the Contract that is in the
Annuity Phase
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• If this is an Inherited IRA Contract the Beneficiary can either:
– continue to receive required minimum distribution
payments based on the remaining life expectancy of the
deceased Inherited IRA Owner and the Contract Value as
of the Business Day we receive a Valid Claim, until ten
years after the Inherited IRA Owner’s death at which time
we make a lump sum payment, or
– receive a lump sum payment of the Contract Value as of
the Business Day we receive a Valid Claim.
• For all other Contracts, we pay a death benefit to the
Beneficiary unless the Beneficiary is the surviving spouse and
continues the Contract. If you selected the Living Guarantees
the GAV Benefit continues until the Contract ends or is fully
annuitized, and unless the Contract is continued by a surviving
spouse/Beneficiary the GWB ends and the GMIB is no longer
available.
• The death benefit is the greater of the Contract Value or the
guaranteed death benefit value.
– Under the Traditional GMDB the guaranteed death
benefit value is total Purchase Payments adjusted for
withdrawals.
– Under the Enhanced GMDB the guaranteed death benefit
value is the greater of total Purchase Payments adjusted
for withdrawals, or the MAV.
• If a surviving spouse Beneficiary continues the Contract, as of
the end of the Business Day we receive their Valid Claim:
– we increase the Contract Value to equal the guaranteed
death benefit value if greater, and the death benefit
continues to be available to the surviving spouse’s
Beneficiary(s),
– the surviving spouse becomes the new Owner, and
– the Accumulation Phase continues.
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• The Beneficiary becomes the Payee. If we are still required to
make Annuity Payments under the selected Annuity Option, the
Beneficiary also becomes the new Owner.
• If the deceased was not an Annuitant, Annuity Payments to the
Payee continue. No death benefit is payable.
• If the deceased was the only surviving Annuitant, Annuity
Payments end or continue as follows.
– Annuity Option 1 or 3, payments end.
– Annuity Option 2 or 4, payments end when the
guaranteed period ends, or when we pay any final lump
sum.
– Annuity Option 5, payments end and the Payee may
receive a lump sum refund.
– Annuity Option 6, payments end when the guaranteed
period ends.
• If the deceased was an Annuitant and there is a surviving joint
Annuitant, Annuity Payments to the Payee continue during the
lifetime of the surviving joint Annuitant. No death benefit is
payable.
• For a Qualified Contract, the Annuity Payments must end ten
years after the Owner’s death.
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FOR JOINTLY OWNED CONTRACTS: The sole primary Beneficiary is the surviving Joint Owner regardless of any
other named primary Beneficiaries. If both Joint Owners die
simultaneously as defined by applicable state law or
regulation, we pay the death benefit to the named surviving primary
Beneficiaries. If there are no named surviving
primary Beneficiaries, we pay the death benefit to the named surviving
contingent Beneficiaries, or to the estate of the
Joint Owner who died last if there are no named surviving contingent
Beneficiaries.
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The Contract is no longer offered for sale, but we
continue to accept additional Purchase Payments if your
Contract was issued in Connecticut, Florida, or New
Jersey. However, we do not accept additional Purchase
Payments if you have a 403(b), Inherited IRA, or
Inherited Roth IRA Contract.
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For Owners of May 2005 and February 2007 Contracts
with Living Guarantees: We no longer enforce the 50%
restriction limit on allocations to the FPAs stated in your Contract.
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AIP is not available unless your Contract was issued
in Connecticut, Florida, or New Jersey. AIP is also not
available if you have an Inherited IRA Contract, or if
you have a Qualified Contract that is funding a plan that is
tax qualified under Section 401 or 403(b) of the
Internal Revenue Code.
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This Contract is not designed for professional market timing
organizations, or other persons using programmed, large, or
frequent transfers, and we may restrict excessive or inappropriate
transfer activity.
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This program is not available for the FPAs. If your Contract includes
the Living Guarantees, automatic GAV Transfers
may affect this program.
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Contract
Year
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FPA Account
Period
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Contract
Year
|
FPA Account
Period
|
Contract
Year
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FPA Account
Period
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1
|
10 years
|
6
|
5 years
|
11
|
5 years
|
2
|
9 years
|
7
|
4 years
|
12
|
4 years
|
3
|
8 years
|
8
|
3 years
|
13
|
3 years
|
4
|
7 years
|
9
|
2 years
|
14
|
2 years
|
5
|
6 years
|
10
|
1 year
|
15
|
1 year
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• We may change the terms of the FPAs. Please contact us for the most current terms.
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• For May 2005 Contracts and February 2007 Contracts issued in Minnesota: We
hold the FPA Fixed Account
Value in a non-unitized separate account we established under Minnesota
Insurance Law. This separate account
provides an additional measure of assurance that we will make full
payment of amounts due under the FPAs. State
insurance law prohibits us from charging this separate account with the
liabilities of any other separate account or of
our general business. We own the assets of this separate account as well
as any favorable investment performance of
those assets. You do not participate in the performance of the assets
held in this separate account. We guarantee all
benefits relating to your FPA Fixed Account Value. This guarantee is
based on the continued claims paying ability of
Allianz Life.
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• For May 2005 Contracts and February 2007 Contracts issued in Alabama, Oregon, Pennsylvania, Utah, and
Washington: You cannot allocate Purchase Payments or transfer Contract Value to or from the FPAs, and you
cannot request withdrawals directly from the FPAs. The FPAs are only
available to receive GAV Transfers that we
make if your Contract includes the Living Guarantees. The FPAs are also
not subject to a MVA.
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If the interest rate on the FPA from
which amounts are being removed is…
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then the
MVA is…
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Less than the current interest rate for new
allocations to an FPA of the same Account Period
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negative
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Equal to the current interest rate for new
allocations to an FPA of the same Account Period
|
zero
|
Greater than the current interest rate for new
allocations to an FPA of the same Account Period
|
positive
|
I
|
=
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Current interest rate earned in the FPA from which amounts are being removed.
|
J
|
=
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Current interest rate for new allocations to an FPA with an Account Period equal to the
remaining term (rounded
up) in the current Account Period.
|
N
|
=
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Number of days from the date of transfer/withdrawal from the FPA to the next Contract
Anniversary divided by
365, plus the number of whole years remaining in the Account Period.
|
(a)
|
=
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The FPA guaranteed minimum value.
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(b)
|
=
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All allocations to the FPAs less previous partial withdrawals (including any withdrawal
charges) and transfers
from the FPAs.
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(c)
|
=
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The Fixed Account Value.
|
(a)
|
=
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The Fixed Account Value.
|
(b)
|
=
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The FPA guaranteed minimum value.
|
(c)
|
=
|
All allocations to the FPAs less previous partial withdrawals (including any withdrawal
charges) and transfers
from the FPAs.
|
The FPA guaranteed
minimum value on July 1 of the sixth Contract Year is equal to:
|
|
87.5% of all allocations to the FPAs less partial withdrawals and
transfers accumulated at the FPA guaranteed minimum
value interest rate for 5 years and 181 days = ((87.5% x $10,000) – $0) x
1.03 ((181/365) + 5) =
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$10,293.43
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Plus
|
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Upon full withdrawal, the amount of the withdrawal charge that we assign
to the FPAs (which is the percentage of
Contract Value in the FPAs) = 10% x $4,000 =
|
– 53,530.05
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$10,693.43
|
|
|
The MVA minimum on July 1 of
the sixth Contract Year is equal to:
|
|
The greater of (a) the FPA guaranteed minimum value, or (b) all
allocations to the FPAs less partial withdrawals and
transfers, divided by (c) the Fixed Account Value = $10,693.43 / $13,774.58
=
|
0.776316
|
|
|
The MVA maximum on July 1 of
the sixth Contract Year is equal to:
|
|
(a) The Fixed Account Value divided by the greater of (b) the FPA
guaranteed minimum value, or (c) all allocations to the
FPAs less partial withdrawals and transfers = $13,774.58 / $10,693.43 =
|
1.288135
|
We do not apply MVAs to GAV
Transfers out of the FPAs for Contracts issued on or after December 1, 2006, or such
later date as this change was
approved in your state. For Contracts issued before this period, you can opt out of
having MVAs applied to GAV Transfers
from the FPAs. An opt out will be effective as of the Business Day we receive
your request in Good Order at our
Service Center.
|
|
Mortality and Expense Risk (M&E) Charge
(as a percentage of each
Investment Option’s average net assets)
|
Original Contract Version 1
|
1.40
%
|
Original Contract Version 2
|
1.25
%
|
May 2005 Contract
|
1.40
%
|
February 2007 Contract
|
1.25
%
|
For Contracts issued in South Carolina, Texas or
Washington: The contract maintenance charge cannot be deducted
from the FPAs.
|
Number of Complete
Years Since
Purchase Payment
|
Withdrawal Charge
Amount(1)
|
0
|
8%
|
1
|
8%
|
2
|
7%
|
3
|
6%
|
4
|
5%
|
5
|
4%
|
6
|
3%
|
7 years or more
|
0%
|
|
• We do not reduce the Withdrawal Charge Basis for penalty-free withdrawals or the deduction of Contract fees
and expenses other than the withdrawal charge. This
means that upon a full withdrawal, if your Contract
Value is less than your remaining Purchase Payments
that are still subject to a withdrawal charge we will
assess a withdrawal charge on more than the amount
withdrawn. This can occur because your Contract Value
was reduced for:
|
– prior penalty-free withdrawals,
|
– deductions of Contract fees and expenses other than the withdrawal charge, and/or
|
– poor performance.
|
This also means that upon a full
withdrawal you may not receive any money.
|
• Withdrawals are subject to ordinary income taxes, and may also be subject to a 10% additional federal tax for
amounts withdrawn before age 59 1∕2. For tax purposes, and in most instances, withdrawals from Non-
Qualified Contracts are considered to come from the
earnings first, not Purchase Payments.
|
• Contract Value withdrawn from the FPAs may be affected by the MVA (which can be negative).
|
• Partial Annuitizations reduce each Purchase Payment and the Withdrawal
Charge Basis proportionately by the
percentage of Contract Value or GMIB value you annuitize.
|
Liquidations are only available on Original Contracts
if you take variable Traditional Annuity Payments under
Annuity Option 2, 4, or 6.
|
Liquidations under Annity Option 2 and 4
|
|
Number of Complete Years
Since Income Date
|
Commutation Fee
Amount(1)
|
5
|
4%
|
6
|
3%
|
7
|
2%
|
8 years or more
|
1%
|
Liquidations under Annity Option 6
|
|
Number of Complete Years
Since Purchase Payment
|
Withdrawal Charge
Amount(1)
|
0
|
8%
|
1
|
8%
|
2
|
7%
|
3
|
6%
|
4
|
5%
|
5
|
4%
|
6
|
3%
|
7 years or more
|
0%
|
• Withdrawals are subject to a withdrawal charge, income taxes, and may also be subject to a 10% additional
federal tax for amounts withdrawn before age 59 1∕2. Certain restrictions may apply to any withdrawal you
take.
|
• For 403(b) Contracts you may only take distributions after you reach age 59 1∕2, your severance of employment, or
your total and permanent disability.
|
• Joint Owners: We send one check payable to both Joint Owners and we tax report to both Joint Owner's based on
the age of the older Joint Owner.
|
• We may be required to provide information about you or your Contract to government regulators. We may also be
required to stop Contract disbursements and thereby refuse any transfer
requests, and refuse to pay any withdrawals,
surrenders, or death benefits until we receive instructions from the
appropriate regulator. If, pursuant to SEC rules,
the AZL Government Money Market Fund suspends payment of redemption
proceeds in connection with a fund
liquidation, we will delay payment of any transfer, partial withdrawal,
surrender, or death benefit from the AZL
Government Money Market Fund subaccount until the fund is liquidated.
|
• Contract Value withdrawn from the FPAs may be affected by the MVA (which can be negative).
|
• The partial withdrawal privilege is not available upon a full withdrawal.
|
• Contract Value withdrawn from the FPAs may be affected by the MVA (which can be negative).
|
• During the withdrawal charge period, systematic withdrawals in excess of the partial withdrawal privilege are
subject to a withdrawal charge, ordinary income taxes,
and may also be subject to a 10% additional federal
tax for amounts withdrawn before age 59 1∕2.
|
• Contract Value withdrawn from the FPAs may be affected by the MVA (which can be negative).
|
• The systematic withdrawal program is not available while you are receiving required minimum distribution
payments .
|
• The minimum distribution program is not available while you are receiving systematic withdrawals, or if you have a
403(b) or Qualified Contract purchased through a qualified plan.
|
• If you selected the Living Guarantees and you have the GMIB it may have limited usefulness if you have a
Qualified Contract subject to an RMD. If you do not exercise the GMIB on or before the date RMD payments
must begin under a qualified plan, you may not be able to exercise the
GMIB. You should consider whether the
GMIB is appropriate for your situation if you plan to exercise the GMIB
after your RMD beginning date.
|
• Contract Value withdrawn from the FPAs may be affected by the MVA (which can be negative).
|
• Massachusetts – The definition of nursing home includes hospice and home
healthcare agency.
|
• New Jersey – The waiver of withdrawal charge benefit is not available.
|
• New Hampshire – The definition of nursing home is an institution
operated in accordance with state law.
|
• Pennsylvania – The waiver is not available if on the Issue Date, an
Owner was confined to a nursing home or was
already diagnosed with a terminal illness. Also, the nursing home
confinement requirement is a total of 90 days
within a six month period, but the 90 days do not need to be
consecutive.
|
• Texas – The definition of nursing home is an institution that provides
medical and nursing services under the
supervision of a physician or registered nurse. Also, the Owner has a
minimum of 91 days to furnish proof of the
specified condition when submitting a request to use the waiver.
|
• Annuity Option 6 is not available for GMIB Payments, or if you take a Partial Annuitization.
|
• Annuity Option 6 was available for Traditional Annuity Payments on Original Contracts, but was removed
from the May 2005 Contracts and the February 2007 in
all states except Florida. For May 2005 Contracts and
the February 2007 Contracts issued in Florida Annuity Option 6 continues
to be available for fixed Traditional
Annuity Payments. For more information, please refer to your Contract.
|
• If you do not choose an Annuity Option before the Income Date, we make variable Traditional Annuity
Payments to the Payee under Annuity Option 2 with ten
years of guaranteed monthly payments.
|
• For Owners younger than age 59 1∕2, Annuity
Payments may be subject to a 10% additional federal tax.
|
• For a Qualified Contract, the Annuity Payments must end ten years after the Owner’s death.
|
Contract Value withdrawn from the FPAs and applied to
Traditional Annuity Payments may be affected by the
MVA (which can be negative).
|
• If on the Income Date your Contract Value is greater than zero, you must take a Full Annuitization. We notify
you of your available options in writing 60 days in advance, including
the option to extend your Income Date if
available. If on your Income Date you have not selected an Annuity Option, we make variable payments under
Annuity Option 2 with ten years of
guaranteed monthly payments. Upon Full Annuitization you no longer have
Contract Value or a death benefit, and you cannot receive any other
periodic withdrawals or payments other than
Annuity Payments.
|
• For Contracts issued in Florida: The earliest Income Date is one year
after the Issue Date.
|
A Partial Annuitization on a Non-Qualified Contract receives the same
income tax treatment as a Full Annuitization.
However, this income tax treatment does not apply to a Partial
Annuitization on a Qualified Contract. You should
consult a tax adviser before requesting a Partial Annuitization.
|
Standard Benefits (No Additional Charge)
|
||
Name of Benefit
|
Purpose
|
Brief Description of
Restrictions/Limitations
|
Partial Withdrawal
Privilege
|
Allows you to withdraw up to 12% of your total
Purchase Payments each Contract Year without
incurring a withdrawal charge.
|
• Only available during the Accumulation Phase.
• Not available upon full withdrawal.
• Unused partial withdrawal privilege amounts not
available in future years.
• Contract Value withdrawn from the FPAs may be
affected by the MVA (which can be negative).
• Program withdrawals are subject to income taxes,
and may also be subject to a 10% additional
federal tax for amounts withdrawn before age
59 1∕2.
|
Automatic
Investment Plan
(AIP)
|
Allows you to make automatic Purchase Payments
by electronic money transfer from your savings,
checking, or brokerage account.
|
• Only available during the Accumulation Phase.
• Only available to Contracts issued in Connecticut,
Florida, or New Jersey.
• Not available to certain Qualified Contracts.
• Payments must be on a monthly or quarterly basis.
• Subject to applicable Purchase Payment
restrictions.
• We reserve the right to discontinue or modify.
|
Dollar Cost
Averaging (DCA)
Program
|
Allows you to make automatic transfers over a period
of at least 6-months from an Investment Option you
select to other Investment Options.
|
• Only available during the Accumulation Phase.
• Must allocate at least $1,500 to the source
Investment Option to enroll.
• Program transfers only on a monthly or quarterly
basis.
• Program transfers do not count against transfer
limitations.
• We reserve the right to discontinue or modify.
|
Flexible
Rebalancing
Program
|
Provides for automatic, periodic transfers among the
Investment Options to help you maintain your
selected allocation percentages among the
Investment Options.
|
• Only available during the Accumulation Phase.
• Not available for the FPAs.
• For Contracts with Living Guarantees, GAV
Transfers may affect this program.
• Rebalancing may be on a quarterly, semi-annual,
or annual basis only.
• Program transfers do not count against transfer
limitations.
• We reserve the right to discontinue or modify.
|
Standard Benefits (No Additional Charge)
|
||
Name of Benefit
|
Purpose
|
Brief Description of
Restrictions/Limitations
|
Systematic
Withdrawal
Program
|
Allows you to take automatic withdrawals from your
Contract.
|
• Only available during the Accumulation Phase.
• Not available if you are participating in minimum
distribution program.
• Program withdrawals may be monthly, quarterly,
semi-annual or annual, unless you have less than
$25,000 in Contract Value, in which case only
annual withdrawals are available.
• Minimum $100 withdrawal required.
• Program withdrawals count against partial
withdrawal privilege.
• Contract Value withdrawn from the FPAs may be
affected by the MVA (which can be negative).
• Program withdrawals are subject to withdrawal
charges, income taxes, and may also be subject to
a 10% additional federal tax for amounts
withdrawn before age 59 1∕2.
• We reserve the right to discontinue or modify.
|
Minimum
Distribution
Program
|
Allows you to automatically take withdrawals to
satisfy the minimum distribution requirements
imposed by the Internal Revenue Code for a
Qualified Contract.
|
• Only available during the Accumulation Phase.
• Only available to IRA, SEP IRA, Inherited IRA, or
Inherited Roth IRA Contracts.
• Not available if you are participating in systematic
withdrawal program.
• Program withdrawals may be monthly, quarterly,
semi-annual or annual, unless you have less than
$25,000 in Contract Value, in which case only
annual withdrawals are available.
• Program withdrawals count against partial
withdrawal privilege, and if you have the Living
Guarantees may also reduce the amount available
for GWB withdrawals.
• Program withdrawals are not subject to withdrawal
charges, but are subject to income taxes.
• We reserve the right to discontinue or modify
subject to the requirements of law.
|
Financial Adviser
Fees
|
If you have a financial adviser and want to pay their
financial adviser fees from this Contract, you can
instruct us to withdraw the fee from your Contract
and pay it to your Financial Professional or Financial
Professional’s firm as instructed.
|
• Only available during the Accumulation Phase.
• Financial adviser fees are in addition to the
Contract’s fees and expenses.
• Deductions for financial adviser fees are treated as
withdrawals under the Contract.
• Program withdrawals count against partial
withdrawal privilege.
• Contract Value withdrawn from the FPAs may be
affected by the MVA (which can be negative).
• Program withdrawals are subject to withdrawal
charges, income taxes, and may also be subject to
a 10% additional federal tax for amounts
withdrawn before age 59 1∕2.
• We reserve the right to discontinue or modify.
|
Standard Benefits (No Additional Charge)
|
||
Name of Benefit
|
Purpose
|
Brief Description of
Restrictions/Limitations
|
Waiver of
Withdrawal Charge
Benefit
|
Waives withdrawal charges if you become confined
to a nursing home, or terminally ill.
|
• Only available during the Accumulation Phase.
• Confinement must be for at least 90 consecutive
days.
• Requires physician certification.
• Not available if any Owner was confined to a
nursing home on the Issue Date.
• Terminal illness is limited to life expectancy of 12
months or less.
• Program withdrawals count against partial
withdrawal privilege.
• Contract Value withdrawn from the FPAs may be
affected by the MVA (which can be negative).
• Program withdrawals are not subject to withdrawal
charges, but are subject to income taxes, and may
also be subject to a 10% additional federal tax for
amounts withdrawn before age 59 1∕2.
• State variations apply.
|
Traditional GMDB
|
Provides a death benefit equal to the greater of
Contract Value or guarantee death benefit value,
which is total Purchase Payments adjusted for
withdrawals.
|
• Only available during the Accumulation Phase.
• Withdrawals may significantly reduce or end the
benefit.
• Restrictions on Purchase Payments may limit the
benefit.
• Fully annuitizing the Contract will end the benefit.
|
Optional Benefits (No Longer Available For
Election)
|
|||
Name of
Benefit
|
Purpose
|
Maximum
Fee
|
Brief Description of
Restrictions/Limitations
|
Enhanced
GMDB
|
Provides a death benefit based on the greater of
the Contract Value, or the guaranteed death
benefit value. The guaranteed death benefit
value is the greater of total Purchase Payments
adjusted for withdrawals, or an annual lock-in
feature (MAV).
See Appendix D for an example of how we
calculate the death benefit value.
|
0.20%
(as a
percentage of
each
Investment
Option’s
average net
assets)
|
• Replaces the Traditional GMDB if elected.
• Only available during the Accumulation Phase.
• Withdrawals may significantly reduce or end
the benefit as indicated in Appendix D.
• Withdrawals reduce the likelihood of lock-ins.
• Cannot be removed from the Contract.
• Full Annuitization of the Contract will end the
benefit.
|
Living
Guarantees
|
Includes the Guaranteed Account Value (GAV)
Benefit, Guaranteed Withdrawal Benefit (GWB),
and the Guaranteed Minimum Income Benefit
(GMIB).
|
No fee.
|
|
Optional Benefits (No Longer Available For
Election)
|
|||
Name of
Benefit
|
Purpose
|
Maximum
Fee
|
Brief Description of
Restrictions/Limitations
|
GAV Benefit
|
Guaranteed accumulation benefit providing a
level of protection for your principal you invested
and to lock-in any annual investment gains (the
GAV). If your Contract Value on a Contract
Anniversary is less than the GAV established five
years or more ago, we will make a payment to
your Contract equal to that difference (True Up).
See Appendix C for an example of how we
calculate the GAV and apply True Ups.
|
Amounts
withdrawn
from the
FPAs may
be subject to
an MVA,
which can be
negative.
The
maximum
negative
MVA is -30%
|
• Only available during the Accumulation Phase.
• Guarantee is subject to a five-year waiting
period.
• No True Up on a Contract Anniversary if
current Contract Value is greater than the GAV
from five years ago.
• GAV Benefit resets are subject to limitations
and restart the 5-year waiting period before the
next True Up.
• An additional Purchase Payment immediately
increases your Contract Value, but does not
become part of the GAV for at least five years.
Therefore, a large additional Purchase
Payment may decrease the likelihood that you
would receive a True Up.
• We monitor your Contract Value daily and
periodically transfer amounts between your
selected Investment Options and the FPAs to
support the benefits guarantees (GAV
Transfers).
• GAV Transfers could result in most or all of
your Contract Value being held in the FPAs,
which may provide less Contract Value than if
your Contract did not include the GAV Benefit.
• Withdrawals may significantly reduce or end
the benefit as indicated in Appendix C.
• Withdrawals reduce the likelihood of lock-ins.
• State variations apply.
|
GWB
|
Provides a guaranteed income through partial
withdrawals, regardless of your Contract Value,
beginning on the second Contract Anniversary.
Allows you to withdraw each Contract Year the
lesser of partial withdrawal privilege amount, or
the remaining GWB value (total Purchase
Payments adjusted for withdrawals) without
incurring a withdrawal charge.
See section 16.b for a GWB adjusted partial
withdrawal example.
|
Amounts
withdrawn
from the
FPAs may
be subject to
an MVA,
which can be
negative.
The
maximum
negative
MVA is -30%
|
• Only available during the Accumulation Phase.
• Not available before the second Contract
Anniversary.
• Not available upon full withdrawal.
• Unused GWB withdrawal amounts not
available in future years.
• GWB withdrawals reduce your partial
withdrawal privilege.
• Contract Value withdrawn from the FPAs may
be affected by the MVA (which can be
negative).
• GWB withdrawals are subject to income taxes,
and may also be subject to a 10% additional
federal tax for amounts withdrawn before age
59 1∕2.
|
Optional Benefits (No Longer Available For
Election)
|
|||
Name of
Benefit
|
Purpose
|
Maximum
Fee
|
Brief Description of
Restrictions/Limitations
|
GMIB
|
Provides guaranteed minimum fixed annuity
income called GMIB Payments based on the
guaranteed value, which is the greater of total
Purchase Payments adjusted for withdrawals, or
an annual lock-in feature (MAV).
See Appendix B for an example of how we
calculate the GMIB Value.
|
|
• Only available during the Annuity Phase.
• Withdrawals may significantly reduce or end
the benefit.
• Restrictions on Purchase Payments may limit
the benefit.
• Cannot be removed from the Contract.
• GMIB Payments may not begin until the 5th
Contract Anniversary, and are only available
within 30 days after a Contract Anniversary.
• Restricted to Annuity Options 1-5.
• GMIB Partial Annuitizations are restricted.
• Fully annuitizing the Contract and taking
Traditional Annuity Payments will end the
benefit.
• The GMIB's guaranteed fixed payout rates
may be less than the current fixed payout rates
available with Traditional Annuity Payments,
which may cause Traditional Annuity Payments
to be greater than GMIB Payments.
• State variations apply.
|
FPW
|
=
|
The amount of the partial withdrawal (before any MVA) that together with any other
previous partial
withdrawals taken during the Contract Year does not exceed 12% of total Purchase Payments
(the partial
withdrawal privilege). However, if you take a traditional Partial Annuitization, the
entire amount of Contract
Value (before any MVA) applied to the traditional Partial Annuitization will be included
in the RPW portion of
this formula.
|
RPW
|
=
|
The remaining amount of the partial withdrawal, including any applicable withdrawal
charge, but the
application of any MVA.
|
GMDB
|
=
|
The greater of one, or the ratio of (a) divided by (b) where:
(a) = The death benefit on the day of (but before) the partial withdrawal.
(b) = The Contract Value on the day of (but before) the partial withdrawal, adjusted for any applicable MVA.
|
(a)
|
=
|
The amount of Contract Value (before any MVA) applied to a traditional Partial
Annuitization or withdrawn
(including any applicable withdrawal charge).
|
(b)
|
=
|
The greater of one, or the ratio of (c) divided by (d) where:
(c) = The death benefit on the day of (but before) the traditional Partial Annuitization or partial withdrawal.
(d) = The Contract Value on the day of (but before) the traditional Partial Annuitization or partial withdrawal,
adjusted for any applicable MVA.
|
GMIBPA
|
=
|
The amount of the GMIB value applied to a GMIB Partial Annuitization.
|
GMDB1
|
=
|
The death benefit on the day of (but before) the GMIB Partial Annuitization.
|
GMIB
|
=
|
The GMIB value on the day of (but before) the GMIB Partial Annuitization.
|
You do not have any protection under the GAV Benefit
until the fifth Contract Anniversary and Purchase
Payments are not protected by the GAV until we have
had them for at least five years.
|
• Withdrawals include all withdrawals (even penalty-free withdrawals) and any withdrawal charges, and Partial
Annuitizations; but not amounts we withdraw for the
transfer fee, or contract maintenance charge.
Withdrawals may reduce the GAV by
more than the amount withdrawn or annuitized.
|
• You will be required to take a Full Annuitization of your Contract on or before the maximum permitted
Income Date. (For more information see section 13, The Annuity Phase.) Upon a Full Annuitization, the FPAs are no
longer available and you will not receive any future True Ups.
|
A
|
=
|
The initial GAV, plus any additional Purchase Payments received during the remainder of
the first Contract Year and
minus any GAV adjusted partial withdrawals taken during the remainder of the first
Contract Year.
|
B
|
=
|
Your Contract Value determined at the end of prior Business Day before the first Contract
Anniversary.
|
C
|
=
|
The GAV from the previous Contract Anniversary plus any additional Purchase Payments
received in the previous
Contract Year and minus any GAV adjusted partial withdrawals taken in the previous
Contract Year.
|
D
|
=
|
Your Contract Value determined at the end of prior Business Day before that Contract
Anniversary.
|
a
|
=
|
The amount of Contract Value (before any MVA) applied to a traditional Partial
Annuitization or withdrawn
(including any applicable withdrawal charge).
|
b
|
=
|
The greater of one, or the ratio of (e) divided by (f) where:
(e) = The GAV on the day of (but before) the traditional Partial Annuitization or partial withdrawal.
(f) = The Contract Value on the day of (but before) the traditional Partial Annuitization or partial withdrawal,
adjusted for any applicable MVA.
|
c
|
=
|
The amount of the partial withdrawal (before any MVA) that, together with any other
previous partial withdrawals
(before any MVA) taken during the Contract Year, does not exceed 12% of total Purchase
Payments received (the
partial withdrawal privilege). However, if you take a traditional Partial Annuitization,
the entire amount of any
Contract Value (before any MVA) applied to the traditional Partial Annuitization will be
included in part (d) of this
formula.
|
d
|
=
|
The remaining amount of the partial withdrawal, including any applicable withdrawal
charge, but before any MVA.
|
GMIBPA
|
=
|
The amount of any GMIB value applied to a GMIB Partial Annuitization.
|
GAV1
|
=
|
The GAV on the day of (but before) the GMIB Partial Annuitization.
|
GMIB
|
=
|
The GMIB value on the day of (but before) the GMIB Partial Annuitization.
|
The initial GAV
|
$100,000
|
The GAV on the first Contract Anniversary equals the greater of (A) or
(B):
(A) the initial GAV, which is the initial Purchase Payment of $100,000; or
(B) the Contract Value determined at the end of prior Business Day before
the first Contract Anniversary, which is
$120,000
|
$120,000
|
The GAV on the second Contract Anniversary equals the greater of (C) or
(D):
(C) the GAV from the first Contract Anniversary ($120,000); or
(D) the Contract Value determined at the end of prior Business Day before
the second Contract Anniversary, which is
$115,000
|
$120,000
|
The GAV on the third Contract Anniversary equals the greater of (C) or
(D):
(C) the GAV from the second Contract Anniversary ($120,000); or
(D) the Contract Value determined at the end of prior Business Day before
the third Contract Anniversary, which is
$119,000
|
$120,000
|
The GAV on the fourth Contract Anniversary equals the greater of (C) or
(D):
(C) the GAV from the third Contract Anniversary ($120,000); or
(D) the Contract Value determined at the end of prior Business Day before
the fourth Contract Anniversary, which is
$121,000
|
$121,000
|
|
Contract
Value
|
GAV
|
GAV Benefit
guarantee
|
True
Up
|
Contract Value
after True Up
|
Issue Date
|
$100,000
|
$100,000
|
-
|
-
|
$100,000
|
1st Contract Anniversary
|
$120,000
|
$120,000
|
-
|
-
|
$120,000
|
2nd Contract Anniversary
|
$115,000
|
$120,000
|
-
|
-
|
$115,000
|
3rd Contract Anniversary
|
$119,000
|
$120,000
|
-
|
-
|
$119,000
|
4th Contract Anniversary
|
$121,000
|
$121,000
|
-
|
-
|
$121,000
|
5th Contract Anniversary
|
$105,000
|
$121,000
|
$100,000
|
None
|
$105,000
|
6th Contract Anniversary
|
$108,000
|
$121,000
|
$120,000
|
$12,000
|
$120,000
|
7th Contract Anniversary
|
$122,000
|
$122,000
|
$120,000
|
None
|
$122,000
|
Change In One Factor, Assuming All Other Factors Remain Constant
|
|
Factor
|
Direction of the GAV Transfer
|
Contract Value increases
|
To the Investment Options
|
GAV increases
|
To the FPAS
|
Credited interest rate on the FPAs increases
|
To the Investment Options
|
Time until application of the GAV Benefit decreases
|
To the FPAS
|
• We make GAV Transfers to and from the FPAs in order to support the GAV Benefit. You should view the
GAV Benefit as a way to permit you to invest in the Investment Options
to the extent permitted by the mathematical
model, while still having your principal and some of your investment
gains protected. You should not view the GAV
Benefit as a “market timing” or other type of investment program
designed to enhance your earnings under the
Contract.
|
• If we make GAV Transfers from your chosen Investment Options to the FPAs during a market downturn, less
(or potentially none) of your Contract Value will be
available to participate in any upside potential of any
subsequent market recovery. This means that if most or all of your Contract Value is in the FPAs, a subsequent
market recovery will benefit only that portion, if any, of your Contract
Value remaining in the Investment Options. If
a recovery is sustained enough to result in GAV Transfers from the FPAs
back to your selected Investment Options,
progressively more of your Contract Value may be able to participate in
the recovery, but the Contract Value as a
whole will always recover more slowly than had it been more fully
allocated to the Investment Options. This may
potentially provide less Contract
Value to you than if your Contract did not include the GAV Benefit.
|
Resets are not available for May 2005 Contracts and
February 2007 Contracts issued in Alabama, Oregon,
Pennsylvania, Utah, and Washington.
|
• Withdrawals (including Partial Annuitizations) you take in excess of the maximum GWB withdrawal amount
in a Contract Year may reduce the GWB value by more
than the amount withdrawn or annuitized.
|
• GWB withdrawals taken from the FPAs may be affected by the MVA (which can be negative).
|
PW
|
=
|
The amount of Contract Value (before any MVA) applied to a traditional Partial
Annuitization or withdrawn
(including any applicable withdrawal charge).
|
GWBA
|
=
|
The amount of the partial withdrawal* (before any MVA) that, together with any previous
partial
withdrawals (including GWB withdrawals) taken during the Contract Year, does not exceed
the maximum
allowable GWB withdrawal for the Contract Year. However, if you take any traditional
Partial Annuitization
the entire amount of any Contract Value (before any MVA) applied to the traditional
Partial Annuitization
will be included in the RPWA portion of this formula.
|
RPWA
|
=
|
The remaining amount of the partial withdrawal including any applicable withdrawal charge,
but before any
MVA.
|
GWBV
|
=
|
The greater of one, or the ratio of (a) divided by (b) where:
(a) = The remaining GWB value on the day of (but before) the traditional Partial Annuitization or partial
withdrawal.
(b) = The Contract Value on the day of (but before) the traditional Partial Annuitization or partial withdrawal
adjusted for any applicable MVA.
|
GMIBPA
|
=
|
The amount of the GMIB value applied to a GMIB Partial Annuitization.
|
GWB1
|
=
|
The remaining GWB value on the day of (but before) the GMIB Partial Annuitization.
|
GMIB
|
=
|
The GMIB value on the day of (but before) the GMIB Partial Annuitization.
|
We calculate the GWB
adjusted partial withdrawal as: GWBA + (RPWA x GWBV), where:
|
|
GWBA = The amount of the partial withdrawal that does not exceed the
maximum allowable GWB withdrawal for the
Contract Year
|
$12,000
|
RPWA = The remaining amount of the partial withdrawal (including any
withdrawal charge) = $13,000 – $12,000 =
|
+ ($1,000
|
GWBV = The greater of one, or the ratio of (a) divided by (b), where:
(a) The remaining GWB value on the day of (but before) the partial
withdrawal = $100,000
(b) The Contract Value on the day of (but before) the partial withdrawal =
$95,000
GWBV = greater of one, or ($100,000 ÷ $95,000 = 1.052632) =
|
x 1.052632)
|
GWB adjusted partial withdrawal
|
$13,053
|
After this partial withdrawal, the remaining GWB value is $100,000 –
$13,053 =
|
$86,947
|
We calculate the GWB
adjusted partial withdrawal as: GWBA + (RPWA x GWBV), where:
|
|
GWBA = The amount of the partial withdrawal that does not exceed the
maximum allowable GWB withdrawal for the
Contract Year
|
$12,000
|
RPWA = The remaining amount of the partial withdrawal (including any
withdrawal charge) = $14,000 – $12,000 =
|
+ ($2,000
|
GWBV = The greater of one, or the ratio of (a) divided by (b), where:
(a) The remaining GWB value on the day of (but before) the partial
withdrawal = $88,947
(b) The Contract Value on the day of (but before) the partial withdrawal =
$92,500
GWBV = greater of one, or ($88,947 ÷ $92,500 = 0.961589) =
|
x 1)
|
GWB adjusted partial withdrawal
|
$14,000
|
After this partial withdrawal, the remaining GWB value is $86,947 –
$14,000 =
|
$72,947
|
The GMIB not be available depending on the state where your Contract
was issued. For more information, please refer to
your Contract.
|
• The GMIB may have limited usefulness if you have a Qualified Contract subject to an RMD. If you do not
exercise the GMIB on or before the date RMD payments must begin under a
qualified plan, you may not be able to
exercise the GMIB. You should consider whether the GMIB is appropriate
for your situation if you plan to exercise
the GMIB after your RMD beginning date.
|
• GMIB FULL ANNUITIZATION: There may be situations where the GMIB value is
greater than the Contract
Value, but the GMIB Payments are less than fixed Traditional Annuity
Payments based on the Contract Value. This
may occur because the guaranteed fixed payout rates available with GMIB
may be less than the current fixed payout
rates that are otherwise available under Traditional Annuity Payments.
We base your Annuity Payments on
whichever amount (the guaranteed value or Contract Value) produces the
greater payment.
|
Withdrawals include all withdrawals (even penalty-free
withdrawals) and any withdrawal charges, and Partial
Annuitizations; but not amounts we withdraw for the
transfer fee, or contract maintenance charge. Withdrawals
may reduce the guaranteed death
benefit value by more than the amount withdrawn or annuitized.
|
PW
|
=
|
The amount of Contract Value (before any MVA) applied to a traditional Partial
Annuitization or withdrawn
(including any applicable withdrawal charge).
|
FPW
|
=
|
The amount of the partial withdrawal (before any MVA) that, together with any other
previous partial
withdrawals taken during the Contract Year, does not exceed 12% of total Purchase Payments
received (the
partial withdrawal privilege). However, if you take a traditional Partial Annuitization,
the entire amount of
Contract Value (before any MVA) applied to the traditional Partial Annuitization will be
included in the RPW
portion of this formula.
|
RPW
|
=
|
The remaining amount of the partial withdrawal including any applicable withdrawal charge,
but before any
MVA.
|
GMIB
|
=
|
The greater of one, or the ratio of (a) divided by (b) where:
(a) = The GMIB value on the day of (but before) the partial withdrawal.
(b) = The Contract Value on the day of (but before) the partial withdrawal or traditional Partial Annuitization
adjusted for any applicable MVA.
|
Type of Contract
|
Persons and Entities that can own the Contract
|
IRA
|
Must have the same individual as Owner and Annuitant.
|
Roth IRA
|
Must have the same individual as Owner and Annuitant.
|
SEP IRA
|
Must have the same individual as Owner and Annuitant.
|
Certain Code Section 401 Plans
|
A qualified retirement plan is the Owner and the Annuitant must be an individual who is a
participant in the plan. If the qualified retirement plan is a defined benefit plan, the
individual must
be the only participant in the plan.
|
403(b)
|
Must have the same individual as Owner and Annuitant.
|
Inherited IRA
|
Must have the same individual as Owner and Annuitant. The deceased owner of the previously
held tax-qualified arrangement will also be listed in the titling of the Contract.
|
We only allow 1035 exchanges if your Contract was
issued in Connecticut, Florida, or New Jersey, and you are
still allowed to make additional Purchase Payments.
|
Investment Objectives
|
Investment Option and
Adviser/Subadviser
|
Current
Expenses
|
Average Annual Total Returns
(as of December 31, 2023)
|
||
1 Year
|
5 Years
|
10 Years
|
|||
Long-term capital appreciation with
preservation of capital as an
important consideration
|
AZL®
Balanced Index
Strategy Fund
Adviser: Allianz Investment
Management LLC
|
0.69%
|
13.21%
|
6.84%
|
5.33%
|
Long-term capital appreciation
|
AZL®
DFA Multi-Strategy
Fund
Adviser: Allianz Investment
Management LLC
|
0.86%
|
13.22%
|
8.04%
|
6.09%
|
Exceed total return of the
Bloomberg Capital U.S. Aggregate
Bond Index
|
AZL®
Enhanced Bond Index
Fund
Adviser: Allianz Investment
Management LLC
Subadviser: BlackRock
Financial Management, Inc.
|
0.66%
|
5.39%
|
0.78%
|
1.41%
|
High level of current income
|
AZL®
Fidelity Institutional
Asset Management®
Total
Bond Fund – Class 2
Adviser: Allianz Investment
Management LLC
Subadviser: FIAM®
LLC
|
0.84%
|
6.68%
|
2.16%
|
2.36%
|
Current income consistent with
stability of principal
|
AZL®
Government Money
Market Fund(1)
Adviser: Allianz Investment
Management LLC
Subadviser: BlackRock
Advisors, LLC
|
0.87%
|
4.28%
|
1.32%
|
0.77%
|
Seeks to match the performance of
the MSCI EAFE® Index as closely
as possible
|
AZL®
International Index
Fund – Class 1
Adviser: Allianz Investment
Management LLC
Subadviser: BlackRock
Investment Management, LLC
|
0.46%
|
17.55%
|
7.91%
|
6.63%
|
Investment Objectives
|
Investment Option and
Adviser/Subadviser
|
Current
Expenses
|
Average Annual Total Returns
(as of December 31, 2023)
|
||
1 Year
|
5 Years
|
10 Years
|
|||
Seeks to match the performance of
the MSCI EAFE® Index as closely
as possible
|
AZL®
International Index
Fund – Class 2
Adviser: Allianz Investment
Management LLC
Subadviser: BlackRock
Investment Management, LLC
|
0.71%
|
17.33%
|
7.66%
|
3.72%
|
Seeks to match the performance of
the Standard & Poor’s MidCap 400®
Index as closely as possible
|
AZL®
Mid Cap Index Fund –
Class 2
Adviser: Allianz Investment
Management LLC
Subadviser: BlackRock
Investment Management, LLC
|
0.57%
|
15.88%
|
12.19%
|
8.78%
|
Long-term capital appreciation
|
AZL®
Moderate Index
Strategy Fund(1)
Adviser: Allianz Investment
Management LLC
|
0.68%
|
14.82%
|
7.95%
|
6.14%
|
Long-term capital appreciation with
preservation of capital as an
important consideration
|
AZL®
MVP Balanced Index
Strategy Fund(2)
Adviser: Allianz Investment
Management LLC
|
0.70%
|
12.85%
|
5.55%
|
4.64%
|
Long-term capital appreciation
|
AZL®
MVP DFA
Multi-Strategy Fund
Adviser: Allianz Investment
Management LLC
|
0.87%
|
13.69%
|
6.52%
|
4.78%
|
Long-term capital appreciation
|
AZL®
MVP Growth Index
Strategy Fund(2)
Adviser: Allianz Investment
Management LLC
|
0.68%
|
16.81%
|
7.82%
|
5.95%
|
Seeks to match the total return of
the Russell 1000® Growth Index
|
AZL®
Russell 1000 Growth
Index Fund – Class 2(1)
Adviser: Allianz Investment
Management LLC
Subadviser: BlackRock
Investment Management, LLC
|
0.67%
|
42.69%
|
19.03%
|
14.20%
|
Seeks to match the total return of
the Russell 1000® Value Index
|
AZL®
Russell 1000 Value
Index Fund – Class 1
Adviser: Allianz Investment
Management LLC
Subadviser: BlackRock
Investment Management, LLC
|
0.42%
|
11.69%
|
10.57%
|
8.90%
|
Seeks to match the total return of
the Russell 1000® Value Index
|
AZL®
Russell 1000 Value
Index Fund – Class 2(1)
Adviser: Allianz Investment
Management LLC
Subadviser: BlackRock
Investment Management, LLC
|
0.67%
|
11.56%
|
10.32%
|
7.74%
|
Investment Objectives
|
Investment Option and
Adviser/Subadviser
|
Current
Expenses
|
Average Annual Total Returns
(as of December 31, 2023)
|
||
1 Year
|
5 Years
|
10 Years
|
|||
Seeks to match total return of the
S&P 500®
|
AZL®
S&P 500 Index Fund –
Class 1
Adviser: Allianz Investment
Management LLC
Subadviser: BlackRock
Investment Management, LLC
|
0.23%
|
25.93%
|
15.36%
|
11.76%
|
Seeks to match total return of the
S&P 500®
|
AZL®
S&P 500 Index Fund –
Class 2
Adviser: Allianz Investment
Management LLC
Subadviser: BlackRock
Investment Management, LLC
|
0.48%
|
25.68%
|
15.08%
|
11.48%
|
Seeks to match performance of the
S&P SmallCap 600 Index®
|
AZL®
Small Cap Stock Index
Fund – Class 1
Adviser: Allianz Investment
Management LLC
Subadviser: BlackRock
Investment Management, LLC
|
0.33%
|
15.64%
|
10.65%
|
9.69%
|
Seeks to match performance of the
S&P SmallCap 600 Index®
|
AZL®
Small Cap Stock Index
Fund – Class 2
Adviser: Allianz Investment
Management LLC
Subadviser: BlackRock
Investment Management, LLC
|
0.58%
|
15.36%
|
10.39%
|
8.06%
|
Long-term capital appreciation with
preservation of capital as an
important intermediate-term
objective
|
AZL®
T. Rowe Price Capital
Appreciation Fund(1)
Adviser: Allianz Investment
Management LLC
Subadviser: T. Rowe Price
Associates, Inc./T. Rowe Price
Investment Management, Inc.
|
1.00%
|
18.47%
|
12.44%
|
10.15%
|
Long-term growth of capital
|
Davis VA Financial
Portfolio(1)
Adviser: Davis Selected
Advisers, L.P.
|
0.78%
|
15.29%
|
10.25%
|
8.80%
|
Long-term capital appreciation with
preservation of capital as an
important consideration
|
Franklin Rising Dividends
VIP Fund – Class 2(1)
Adviser: Franklin Advisers, Inc.
|
0.90%
|
12.08%
|
13.75%
|
10.23%
|
Income
|
Franklin U.S. Government
Securities VIP Fund – Class
2(1)
Adviser: Franklin Advisers, Inc.
|
0.77%
|
4.47%
|
0.22%
|
0.73%
|
Total return
|
Invesco V.I. Global Strategic
Income Fund – Class 1(1)
Adviser: Invesco Advisers, Inc.
|
0.92%
|
8.88%
|
1.30%
|
1.50%
|
Investment Objectives
|
Investment Option and
Adviser/Subadviser
|
Current
Expenses
|
Average Annual Total Returns
(as of December 31, 2023)
|
||
1 Year
|
5 Years
|
10 Years
|
|||
Maximum real return consistent with
prudent investment management
|
PIMCO
CommodityRealReturn®
Strategy Portfolio – Admin.
Class(1)
Adviser: Pacific Investment
Management Company LLC
|
1.48%
|
-7.85%
|
8.55%
|
-0.80%
|
Maximum total return, consistent
with preservation of capital and
prudent investment management
|
PIMCO Emerging Markets
Bond Portfolio – Admin.
Class(1)
Adviser: Pacific Investment
Management Company LLC
|
1.27%
|
11.14%
|
2.25%
|
2.79%
|
Maximum total return, consistent
with preservation of capital and
prudent investment management
|
PIMCO High Yield Portfolio –
Admin. Class(1)
Adviser: Pacific Investment
Management Company LLC
|
0.77%
|
12.25%
|
4.84%
|
4.16%
|
Maximum real return, consistent
with preservation of real capital and
prudent investment management
|
PIMCO Real Return Portfolio
– Admin. Class(1)
Adviser: Pacific Investment
Management Company LLC
|
0.84%
|
3.67%
|
3.17%
|
2.23%
|
Total return, which exceeds that of
its secondary benchmark index
consistent with prudent investment
management
|
PIMCO StocksPLUS®
Global
Portfolio – Advisor Class(1)
Adviser: Pacific Investment
Management Company LLC
|
0.91%
|
22.84%
|
11.41%
|
6.42%
|
Maximum total return, consistent
with preservation of capital and
prudent investment management
|
PIMCO Total Return Portfolio
– Admin. Class
Adviser: Pacific Investment
Management Company LLC
|
0.75%
|
5.94%
|
1.09%
|
1.71%
|
High current income, consistent with
preservation of capital, with capital
appreciation as a secondary
consideration
|
Templeton Global Bond VIP
Fund – Class 2(1)
Adviser: Franklin Advisers, Inc.
|
0.75%
|
2.88%
|
-2.13%
|
-0.66%
|
The GMIB adjusted
partial withdrawal is equal to:
|
|
The amount of the partial withdrawal subject to the partial withdrawal
privilege
(12% of total Purchase Payments received) = 0.12 x $100,000 =
|
$12,000
|
Plus
|
|
The remaining amount of the partial withdrawal (including any withdrawal
charge)
|
8,000
|
Multiplied by the greater of (a) or (b), where:
(a) is one, and
(b) is the ratio of the GMIB value divided by the Contract Value on the
date of (but before) the partial withdrawal =
$150,000/$160,000 = 0.94
|
x 1
|
|
$8,000
|
Total GMIB adjusted partial withdrawal
|
$20,000
|
The GMIB value on the
eighth Contract Anniversary is equal to:
|
|
The MAV on the seventh Contract Anniversary
|
$150,000
|
Reduced by the GMIB adjusted partial withdrawal in the eighth Contract
Year
|
- 20,000
|
|
$130,000
|
Your Income Date is within 30 days
after Contract Anniversary
|
|
GMIB Payments under…
|
||
GMIB Value
|
Annuity Option 1,
Life Annuity
|
Annuity Option 2,
Life Annuity with
10 Years Guaranteed
|
Annuity Option 3,
Joint and Last
Survivor Annuity
|
|
5
|
$120,000
|
$540.00
|
$531.60
|
$440.40
|
8
|
$130,000
|
$631.80
|
$617.50
|
$505.70
|
10
|
$180,000
|
$925.20
|
$900.00
|
$730.80
|
15
|
$230,000
|
$1,386.90
|
$1,311.00
|
$1,055.70
|
The initial GAV
|
$100,000
|
The GAV on the first Contract Anniversary equals the greater of (A) or
(B):
(A) the initial GAV, which is the initial Purchase Payment of $100,000; or
(B) the Contract Value determined at the end of prior Business Day before
the first Contract Anniversary, which is
$120,000
|
$120,000
|
The GAV on the second Contract Anniversary equals the greater of (C) or
(D):
(C) the GAV from the first Contract Anniversary, which is $120,000; or
(D) the Contract Value determined at the end of prior Business Day before
the second Contract Anniversary, which is
$135,000
|
$135,000
|
The GAV on the third Contract Anniversary equals the greater of (C) or
(D):
(C) the GAV from the second Contract Anniversary, which is $135,000; or
(D) the Contract Value determined at the end of prior Business Day before
the third Contract Anniversary, which is
$150,000
|
$150,000
|
Calculating the GAV
adjusted partial withdrawal taken in the fourth Contract Year:
|
|
The amount of the partial withdrawal subject to the partial withdrawal
privilege
(12% of total Purchase Payments received) = 0.12 x $100,000 =
|
$12,000
|
Plus
|
|
The remaining amount of the partial withdrawal (including any withdrawal
charge)
|
+ (8,000
|
Multiplied by the greater of (a) or (b), where:
(a) is one, and
(b) is the ratio of the GAV divided by the Contract Value on the date of
(but before) the partial withdrawal =
$150,000/$160,000 = 0.94
|
x 1)
|
|
$8,000
|
Total GAV adjusted partial withdrawal
|
$20,000
|
The GAV on the fourth Contract Anniversary equals the greater of (C) or
(D):
(C) the GAV from the third Contract Anniversary, minus the GAV adjusted
partial withdrawal taken in the
fourth Contract Year = $150,000 – $20,000 = $130,000; or
(D) the Contract Value determined at the end of prior Business Day before
the fourth Contract Anniversary, which is
$135,000
|
$135,000
|
|
Contract
Value
|
GAV
|
GAV Benefit
guarantee
|
True
Up
|
Contract Value
after True Up
|
Issue Date
|
$100,000
|
$100,000
|
-
|
-
|
$100,000
|
1st Contract Anniversary
|
$120,000
|
$120,000
|
-
|
-
|
$120,000
|
2nd Contract Anniversary
|
$135,000
|
$135,000
|
-
|
-
|
$135,000
|
3rd Contract Anniversary
|
$150,000
|
$150,000
|
-
|
-
|
$150,000
|
4th Contract Anniversary
|
$135,000
|
$135,000
|
-
|
-
|
$135,000
|
5th Contract Anniversary
|
$105,000
|
$135,000
|
$80,000
|
None
|
$105,000
|
6th Contract Anniversary
|
$108,000
|
$135,000
|
$100,000
|
None
|
$108,000
|
7th Contract Anniversary
|
$110,000
|
$135,000
|
$115,000
|
$5,000
|
$115,000
|
We calculate the death
benefit on the tenth Contract Anniversary as the greater of:
|
|
Contract Value
|
$140,000
|
The guaranteed death benefit value:
|
|
Total Purchase Payments received
|
$100,000
|
Reduced by the GMDB adjusted partial withdrawal
|
- 20,000
|
|
$80,000
|
The GMDB adjusted
partial withdrawal is equal to:
|
|
The amount of the partial withdrawal
|
$20,000
|
Multiplied by the greater of (a) or (b), where:
(a) is one, and
(b) is the ratio of the death benefit divided by the Contract Value on the
day of (but before) the partial withdrawal =
$160,000 / $160,000 = 1
|
x 1
|
Total GMDB adjusted partial withdrawal
|
$20,000
|
|
Contract
Value
|
MAV
|
Issue Date
|
$100,000
|
$100,000
|
1st Contract Anniversary
|
$110,000
|
$110,000
|
2nd Contract Anniversary
|
$118,000
|
$118,000
|
3rd Contract Anniversary
|
$116,000
|
$118,000
|
4th Contract Anniversary
|
$122,000
|
$122,000
|
5th Contract Anniversary
|
$120,000
|
$122,000
|
6th Contract Anniversary
|
$141,000
|
$141,000
|
7th Contract Anniversary
|
$147,000
|
$147,000
|
8th Contract Anniversary
|
$155,000
|
$155,000
|
9th Contract Anniversary
|
$162,000
|
$162,000
|
We calculate the death
benefit on the tenth Contract Anniversary as the greater of:
|
|
1) Contract Value
|
$140,000
|
|
|
2) Total Purchase Payments received
|
$100,000
|
Reduced by the GMDB adjusted partial withdrawal
|
-20,000
|
|
$80,000
|
|
|
3) The MAV on the ninth Contract Anniversary
|
$162,000
|
Reduced by the GMDB adjusted partial withdrawal
|
-20,250
|
|
$141,750
|
The GMDB adjusted
partial withdrawal for (2) and (3) above is equal to:
|
|
The amount of the partial withdrawal
|
$20,000
|
Multiplied by the greater of (a) or (b), where:
(a) is one, and
(b) is the ratio of the death benefit divided by the Contract Value on the
day of (but before) the partial withdrawal =
$162,000 / $160,000 = 1.0125
|
x 1.0125
|
Total GMDB adjusted partial withdrawal
|
$20,250
|
(a)
|
=
|
All allocations to the FPAs less partial withdrawals (including any withdrawal charges),
Partial Annuitizations and
transfers from the FPAs.
|
(b)
|
=
|
87.5% of all allocations to the FPAs, less all partial withdrawals (including any
withdrawal charges), Partial
Annuitizations, and transfers from the FPAs, accumulated at the FPA guaranteed minimum
value interest rate
specified in the Contract (which is 3%).
|
Plus
|
|
|
|
|
Upon a full withdrawal, the amount of the withdrawal charge that we assign to the FPAs. We
base this amount on
the percentage of Contract Value in the FPAs (for example, if 25% of the Contract Value is
in the FPAs, then upon
a full withdrawal we would assign 25% of any withdrawal charge to the FPAs).
|
To send a check for an additional Purchase Payment,
or for general customer service, please mail to the appropriate address as follows:
|
REGULAR MAIL
|
|
OVERNIGHT, CERTIFIED, OR REGISTERED MAIL
|
Checks sent to the wrong address for additional
Purchase Payments are forwarded to the 5701 Golden Hills Drive
address listed above, which may delay processing.
|
Firm Name
|
LPL Financial
|
MML Investors Services, Inc
|
Royal Alliance
|
Wells Fargo Advisors LLC – Wealth (ISG)
|
Wells Fargo Advisors LLC (PCG)
|
Notation
|
Description
|
C
|
Contract Value
|
G
|
Adjusted Guarantee
|
r
|
Credited Rate
|
s
|
Adjusted Volatility
|
t
|
Time Remaining
|
d
|
Percentage of Contract Value in Investment Options
|
N
|
Cumulative Standard Normal Distribution function
|
ln
|
Natural Logarithm function
|
Variable
|
Value
|
Description
|
C
|
$100,000
|
Contract Value
|
g
|
$100,000
|
The dollar value of the GAV
|
r
|
0.03
|
Credited Rate
|
s
|
0.16
|
Adjusted Volatility
|
t
|
5
|
Time Remaining
|
Variable
|
Value
|
Description
|
C
|
$96,990
|
Contract Value
|
g
|
$100,000
|
The dollar value of the GAV
|
r
|
0.03
|
Credited Rate
|
s
|
0.16
|
Adjusted Volatility
|
t
|
4.5
|
Time Remaining
|
Variable
|
Value
|
Description
|
C
|
$102,470
|
Contract Value
|
g
|
$100,000
|
The dollar value of the GAV
|
r
|
0.03
|
Credited Rate
|
s
|
0.16
|
Adjusted Volatility
|
t
|
4.166667
|
Time Remaining
|
Variable
|
Value
|
Description
|
C
|
$ 85,111
|
Contract Value
|
g
|
$100,000
|
The dollar value of the GAV
|
r
|
0.03
|
Credited Rate
|
t
|
2
|
Time Remaining
|
Notation
|
Description
|
w
|
Worth Adjustment Applied to the Guarantee
|
m
|
Guarantee Ratio
|
G
|
Adjusted Guarantee
|
C
|
Contract Value
|
g
|
The dollar value of the GAV
|
r
|
Credited Rate
|
t
|
Time Remaining
|
m
|
w
|
|
m
|
w
|
|
m
|
w
|
0.000
|
1.0800
|
|
1.50
|
1.2893
|
|
3.5
|
3.6812
|
0.700
|
1.0800
|
|
1.55
|
1.3114
|
|
3.6
|
3.9095
|
0.725
|
1.0800
|
|
1.60
|
1.3349
|
|
3.7
|
4.1510
|
0.750
|
1.0827
|
|
1.65
|
1.3597
|
|
3.8
|
4.4060
|
0.775
|
1.0867
|
|
1.70
|
1.3860
|
|
3.9
|
4.6751
|
0.800
|
1.0909
|
|
1.75
|
1.4137
|
|
4.0
|
4.9584
|
0.825
|
1.0951
|
|
1.80
|
1.4430
|
|
4.1
|
5.2565
|
0.850
|
1.0996
|
|
1.85
|
1.4738
|
|
4.2
|
5.5696
|
0.875
|
1.1042
|
|
1.90
|
1.5062
|
|
4.3
|
5.8983
|
0.900
|
1.1089
|
|
1.95
|
1.5402
|
|
4.4
|
6.2428
|
0.925
|
1.1139
|
|
2.00
|
1.5760
|
|
4.5
|
6.6036
|
0.950
|
1.1190
|
|
2.05
|
1.6135
|
|
4.6
|
6.9811
|
0.975
|
1.1243
|
|
2.10
|
1.6529
|
|
4.7
|
7.3755
|
1.000
|
1.1298
|
|
2.15
|
1.6940
|
|
4.8
|
7.7874
|
1.025
|
1.1355
|
|
2.20
|
1.7371
|
|
4.9
|
8.2171
|
1.050
|
1.1414
|
|
2.25
|
1.7821
|
|
5.0
|
8.6650
|
1.075
|
1.1475
|
|
2.30
|
1.8291
|
|
|
|
1.100
|
1.1538
|
|
2.35
|
1.8782
|
|
|
|
1.125
|
1.1604
|
|
2.40
|
1.9294
|
|
|
|
1.150
|
1.1671
|
|
2.45
|
1.9826
|
|
|
|
1.175
|
1.1742
|
|
2.50
|
2.0381
|
|
|
|
1.200
|
1.1814
|
|
2.55
|
2.0958
|
|
|
|
1.225
|
1.1889
|
|
2.60
|
2.1558
|
|
|
|
1.250
|
1.1966
|
|
2.65
|
2.2182
|
|
|
|
1.275
|
1.2046
|
|
2.70
|
2.2829
|
|
|
|
1.300
|
1.2129
|
|
2.75
|
2.3500
|
|
|
|
1.325
|
1.2214
|
|
2.80
|
2.4196
|
|
|
|
1.350
|
1.2303
|
|
2.85
|
2.4918
|
|
|
|
1.375
|
1.2394
|
|
2.90
|
2.5665
|
|
|
|
1.400
|
1.2487
|
|
2.95
|
2.6438
|
|
|
|
1.425
|
1.2584
|
|
3.00
|
2.7238
|
|
|
|
1.450
|
1.2684
|
|
3.05
|
2.8065
|
|
|
|
1.475
|
1.2787
|
|
3.10
|
2.8920
|
|
|
|
1.500
|
1.2893
|
|
3.15
|
2.9803
|
|
|
|
|
|
|
3.20
|
3.0714
|
|
|
|
|
|
|
3.25
|
3.1655
|
|
|
|
|
|
|
3.30
|
3.2625
|
|
|
|
|
|
|
3.35
|
3.3626
|
|
|
|
|
|
|
3.40
|
3.4657
|
|
|
|
|
|
|
3.45
|
3.5718
|
|
|
|
|
|
|
3.50
|
3.6812
|
|
|
|
(A)
|
=
|
annuity unit value of the subaccount for that given Investment Option when due proof of
the Annuitant’s death is
received at our Service Center.
|
(B)
|
=
|
The amount applied to variable Traditional Annuity Payments on the Income Date.
|
(C)
|
=
|
Allocation percentage in a given subaccount (in decimal form) when due proof of the
Annuitant’s death is received
at our Service Center.
|
(D)
|
=
|
The number of annuity units used in determining each variable Traditional Annuity Payment
attributable to that
given subaccount when due proof of the Annuitant’s death is received at our Service
Center.
|
(E)
|
=
|
Dollar value of first variable Traditional Annuity Payment.
|
(F)
|
=
|
Number of variable Traditional Annuity Payments made since the Income Date.
|
(a)
|
Resolution of Board of Directors of the Company authorizing the establishment of the
Separate Account, dated May 31, 1985 incorporated by reference as exhibit EX-99.B1. from Registrant's Form N-4 (File Nos. 333-06709 and 811-05618), electronically filed on June 25, 1996.
|
|||||||||||
(b)
|
Not Applicable
|
|||||||||||
(c)
|
1.
|
Principal Underwriter Agreement by and between North American Life and Casualty Company
on behalf of NALAC Variable Account B and NALAC Financial Plans, Inc. dated September 14, 1988 incorporated by reference as exhibit EX-99.B3 from Pre-Effective Amendment No. 1 to Registrant's Form N-4 (File Nos. 333-06709 and 811-05618),
electronically filed on December 13, 1996.
(North American Life and Casualty Company is the predecessor to Allianz Life Insurance Company of North America. NALAC Financial Plans, Inc., is the predecessor to USAllianz Investor Services, LLC, which is the predecessor to Allianz Life Financial Services, LLC. NALAC Variable Account B is the predecessor of Allianz Life Variable Account B.) |
||||||||||
2.
|
Broker-Dealer Agreement (amended and restated) between Allianz Life Insurance
Company of North America and Allianz Life Financial Services, LLC, dated June 1, 2010 incorporated by reference as exhibit EX-99B3b. from Pre-Effective Amendment No. 1 to Registrant's Form N-4 (File Nos. 333-166408 and 811-05618),
electronically filed on September 24, 2010.
|
|||||||||||
3.*
|
The current specimen of the selling agreement between Allianz Life
Financial Services, LLC, the principal underwriter for the Contracts, and retail brokers which offer and sell the Contracts to the public is filed herewith.
|
|||||||||||
(d)
|
1.
|
Individual Variable Annuity Contract - L40432 incorporated by reference as
exhibit EX-99.B4.a. from Pre-Effective Amendment No. 1 to Registrant's Form N-4 (File Nos. 333-90260 and 811-05618), electronically filed on September 9, 2002.
|
||||||||||
2.
|
Contract Schedule Page - S40252AA incorporated by reference as exhibit
EX-99.B4.b. from Pre-Effective Amendment No.4 to Registrant's Form N-4 (File Nos. 333-90260 and 811-05618), electronically filed on April 27, 2006.
|
|||||||||||
3.
|
GAV Benefit Endorsement - S40253 incorporated by reference as exhibit EX-99.B4.b.
from Pre-Effective Amendment No. 1 to Registrant's Form N-4 (File Nos. 333-90260 and 811-05618), electronically filed on September 9, 2002.
|
|||||||||||
4.
|
Fixed Account with a MVA Endorsement - S40709-2A incorporated by reference as
exhibit EX-99.B4.d. from Pre-Effective Amendment No.4 to Registrant's Form N-4 (File Nos. 333-90260 and 811-05618), electronically filed on April 27, 2006.
|
|||||||||||
5.
|
Traditional GMDB Endorsement - S40251 incorporated by reference as exhibit
EX-99.B4.d. from Pre-Effective Amendment No. 1 to Registrant's Form N-4 (File Nos. 333-90260 and 811-05618), electronically filed on September 9, 2002.
|
|||||||||||
6.
|
Enhanced GMDB Endorsement - S40250 incorporated by reference as exhibit
EX-99.B4.e. from Pre-Effective Amendment No. 1 to Registrant's Form N-4 (File Nos. 333-90260 and 811-05618), electronically filed on September 9, 2002.
|
|||||||||||
7.
|
GMIB Endorsement - S40258 incorporated by reference as exhibit EX-99.B4.f. from
Pre-Effective Amendment No. 1 to Registrant's Form N-4 (File Nos. 333-90260 and 811-05618), electronically filed on September 9, 2002.
|
|||||||||||
8.
|
Increased Annuity Payment Benefit Endorsement - S20220 incorporated by reference
as exhibit EX-99.B4.g. from Pre-Effective Amendment No. 1 to Registrant's Form N-4 (File Nos. 333-90260 and 811-05618), electronically filed on September 9, 2002.
|
|||||||||||
9.
|
Waiver of Withdrawal Charge Endorsement - S40255 incorporated by reference as
exhibit EX-99.B4.h. from Post-Effective Amendment No. 1 to Registrant's Form N-4 (File Nos. 333-90260 and 811-05618), electronically filed on April 25, 2003.
|
|||||||||||
10.
|
GWB Endorsement - S40254 incorporated by reference as exhibit EX-99.B4.i. from
Post-Effective Amendment No.3 to Registrant's Form N-4 (File Nos. 333-90260 and 811-05618), electronically filed on April 27, 2005.
|
|||||||||||
11.
|
Inherited IRA/Roth IRA Endorsement - S40713 incorporated by reference as exhibit
EX-99.B4.j. from Post-Effective Amendment No.3 to Registrant's Form N-4 (File Nos. 333-90260 and 811-05618), electronically filed on April 27, 2005.
|
|||||||||||
12.
|
MVA Amendment Endorsement - S40740 incorporated by reference as exhibit
EX-99.B4.l. from Post-Effective Amendment No. 6 to Registrant's Form N-4 (File Nos. 333-90260 and 811-05618), electronically filed on April 23, 2007.
|
|||||||||||
(e)
|
1.
|
Application for Individual Variable Annuity Contract - F40429 incorporated by
reference as exhibit EX-99.B5. from Pre-Effective Amendment No. 1 to Registrant's Form N-4 (File Nos. 333-90260 and 811-05618), electronically filed on September 9, 2002.
|
||||||||||
(f)
|
1.
|
Articles of Incorporation, as amended and restated August 1, 2006, of Allianz Life
Insurance Company of North America, filed on January 3, 2013 as Exhibit 3(a) to Registrant's initial registration on Form S-1 (File No. 333-185864), is incorporated by reference.
|
||||||||||
2.
|
Bylaws, as amended and restated August 1, 2006, of Allianz Life Insurance Company of
North America, filed on January 3, 2013 as Exhibit 3(b) to Registrant's initial registration on Form S-1 (File No. 333-185864), is incorporated by reference.
|
|||||||||||
(g)
|
Not Applicable
|
|||||||||||
(h)
|
1.
|
Participation Agreement between BlackRock
Series Fund, Inc., BlackRock Distributors, Inc., Allianz Life Insurance Co. of North America, and Allianz Life Financial Services, LLC incorporated by reference as exhibit EX-99.B8.c. from Post-Effective Amendment No. 14 to Registrant's Form
N-4 (File Nos. 333-139701 and 811-05618), electronically filed on April 3, 2009.
|
||||||||||
2.
|
Participation Agreement between Davis
Variable Account Fund, Inc., Davis Distributors, LLC and Allianz Life Insurance Company of North America, dated 11/1/1999 incorporated by reference as exhibit EX-99.B8.e. from Pre-Effective Amendment No. 1 to Registrant's Form N-4 (File Nos.
333-82329 and 811-05618), electronically filed on December 30, 1999.
|
|||||||||||
3.
|
-
|
Amendment to Participation Agreement between Davis Variable Account Fund, Inc.,
Davis Distributors, LLC and Allianz Life Insurance Company of North America dated 5/1/08 incorporated by reference as exhibit EX-99.B8.f. from Post-Effective Amendment No. 14 to Registrant's Form N-4 (File Nos. 333-139701 and 811-05618),
electronically filed on April 3, 2009.
|
||||||||||
4.
|
-
|
Amendment to Participation Agreement pursuant to the requirements of Rule 498
for Summary Prospectus between Davis Variable Account Fund, Inc., Davis Distributors, LLC and Allianz Life Insurance Company of North America dated 9/3/2015, incorporated by reference as exhibit EX-99.B8.g. from Post-Effective Amendment No. 14
to Registrant's Form N-4 (File Nos. 333-182987 and 811-05618), electronically filed on April 19, 2016.
|
||||||||||
5.
|
Fund Participation Agreement between Allianz Life Insurance Company of North
America, Dreyfus Investment Portfolios and The Dreyfus Life and Annuity Index Fund, dated 5/1/2002 incorporated by reference as exhibit EX-99.H18 from Post-Effective Amendment No. 3 to Registrant's
Allianz Life Variable Account A's Form N-6 (File Nos. 333-102332 and 811-04965), electronically filed on January 6, 2003.
|
|||||||||||
6.
|
-
|
Amendment to Fund Participation Agreement between Allianz Life Insurance Company
of North America, Dreyfus Investment Portfolios and the Dreyfus Stock Index Fund, Inc., dated 5/1/2007 incorporated by reference as exhibit EX-99.B8.j. from Post-Effective Amendment No. 20 to Registrant's Form N-4 (File Nos. 333-82329 and
811-05618), electronically filed on April 24, 2008.
|
||||||||||
7.
|
Participation Agreement between Franklin Templeton
Variable Insurance Products Trust, Franklin/Templeton Distributors, Inc., Allianz Life Insurance Company of North America and USAllianz Investor Services, LLC (the predecessor to Allianz Life Financial Services, LLC.), and dated 10/1/2003
incorporated by reference as exhibit EX-99.B8.h. from Pre-Effective Amendment No.2 to Registrant's Form N-4 (File Nos. 333-120181 and 811-05618), electronically filed on March 30, 2005.
|
|||||||||||
8.
|
-
|
Amendment to Participation Agreement between Franklin Templeton Variable
Insurance Products Trust, Franklin/Templeton Distributors, Inc., Allianz Life Insurance Company of North America and USAllianz Investor Services, LLC (the predecessor to Allianz Life Financial Services, LLC.), dated 5/1/08 incorporated by
reference as exhibit EX-99.B8.j. from Post-Effective Amendment No. 14 to Registrant's Form N-4 (File Nos. 333-139701 and 811-05618), electronically filed on April 3, 2009.
|
||||||||||
9.
|
-
|
Amendment to Participation Agreement between Franklin Templeton Variable
Insurance Products Trust, Franklin/Templeton Distributors, Inc., Allianz Life Insurance Company of North America and Allianz Life Financial Services, LLC., dated January 16, 2014, incorporated by reference as exhibit EX-99.B8.l. from
Post-Effective Amendment No. 10 to Registrant's Form N-4 (File Nos. 333-182987 and 811-05618), electronically filed on April 14, 2014.
|
||||||||||
10.
|
-
|
Amendment to Participation Agreement pursuant to the requirements of Rule 498
for Summary Prospectus between Franklin Templeton Variable Insurance Products Trust, Franklin/Templeton Distributors, Inc., Allianz Life Insurance Company of North America and Allianz Life Financial Services, LLC., dated 9/1/2015, incorporated
by reference as exhibit EX-99.B8.p. from Post-Effective Amendment No. 14 to Registrant's Form N-4 (File Nos. 333-182987 and 811-05618), electronically filed on April 19, 2016..
|
||||||||||
11.
|
Participation Agreement between Oppenheimer Variable Account Funds,
OppenheimerFunds, Inc. and Allianz Life Insurance Company of North America, dated 12/1/1999 incorporated by reference as exhibit EX-99.B8.h. from Pre-Effective Amendment No. 1 to Registrant's Form N-4
(File Nos. 333-82329 and 811-05618), electronically filed December 30, 1999.
|
|||||||||||
12.
|
-
|
Amendments to Participation Agreement between Oppenheimer Variable Account Funds,
OppenheimerFunds, Inc. and Allianz Life Insurance Company of North America, dated 2/1/00, 5/1/02, 4/30/04, 4/29/05, 5/1/06 incorporated by reference as exhibit EX-99.B8.t. from Post-Effective Amendment No. 18 to Registrant's Form N-4 (File Nos.
333-82329 and 811-05618), electronically filed on April 23, 2007.
|
||||||||||
13.
|
-
|
Amendment to Participation Agreement between Oppenheimer Variable
Account Funds, OppenheimerFunds, Inc. and Allianz Life Insurance Company of North America, dated February 1, 2014, incorporated by reference as exhibit EX-99.B8.y. from Post-Effective Amendment No. 14 to Registrant's Form N-4 (File Nos.
333-90260 and 811-05618), electronically filed on April 17, 2014.
|
||||||||||
14.
|
-
|
Amendment to Participation Agreement pursuant to the requirements of
Rule 498 for Summary Prospectus between Oppenheimer Variable Account Funds, OppenheimerFunds, Inc. and Allianz Life Insurance Company of North America dated 9/1/2015 incorporated by reference as exhibit EX-99.B8.aa. from Post-Effective
Amendment No. 17 to Registrant's Form N-4 (File Nos. 333-90260 and 811-05618), electronically filed on April 19, 2016.
|
||||||||||
15.
|
Investor Services Agreement between Pacific
Investment Management Company (PIMCO) and Allianz Life Insurance Company of North America, dated June 1, 2009 and Amendment dated 5-1-2011 incorporated by reference as exhibit EX-99.B8.t. from Post-Effective Amendment No. 7 to
Registrant’s Form N-4 (File Nos. 333-171427 and 811-05618) electronically filed on April 6, 2012.
|
|||||||||||
16.
|
-
|
Amendment dated May 1, 2011 to Investor Services Agreement between Allianz
Life Insurance Company of North America and Pacific Investment Management Company dated June 1, 2009 incorporated by reference as exhibit EX-99.B8.n. from Post-Effective Amendment No. 25 to Registrant’s Form N-4 (File Nos. 333-139701 and
811-05618), electronically filed on April 26, 2011.
|
||||||||||
17.
|
-
|
Amendment dated 4-30-2012 to Investor Services Agreement between Pacific
Investment Management Company (PIMCO) and Allianz Life Insurance Company of North America, dated June 1, 2009 incorporated by reference as exhibit EX-99.B8.u. from Post-Effective Amendment No. 7 to Registrant’s Form N-4 (File Nos. 333-171427
and 811-05618) electronically filed on April 6, 2012.
|
||||||||||
18.
|
-
|
Amendment dated September 1, 2012 to Investor Services Agreement between
Pacific Investment Management Company (PIMCO) and Allianz Life Insurance Company of North America, dated June 1, 2009 incorporated by reference as exhibit EX-99.B8.z. from Post-Effective Amendment No. 34 to Registrant’s Form N-4 (File Nos.
333-139701 and 811-05618) electronically filed on February 4, 2013.
|
||||||||||
20.
|
Participation Agreement between Allianz Life Insurance Company of
North America, PIMCO Variable Insurance Trust, and PIMCO Funds Distributors LLC, dated 12/1/1999 incorporated by reference as exhibit EX-99.B8.i. from Pre-Effective Amendment No. 1 to Registrant's Form
N-4 (File Nos. 333-82329 and 811-05618), electronically filed December 30, 1999.
|
|||||||||||
21.
|
-
|
Amendments to Participation Agreement between Allianz Life Insurance Company of
North America, PIMCO Variable Insurance Trust, and PIMCO Funds Distributors LLC, dated 4/1/00, 11/5/01, 5/1/02, 5/1/03, 4/30/04, 4/29/05 incorporated by reference as exhibit EX-99.B8.w. from Post-Effective Amendment No. 18 to Registrant's Form
N-4 (File Nos. 333-82329 and 811-05618), electronically filed on April 23, 2007.
|
||||||||||
22.
|
-
|
Amendment dated May 1, 2011 to Participation Agreement between Allianz Life
Insurance Company of North America, PIMCO Variable Insurance Trust and PIMCO Investments LLC (formerly Allianz Global Investors Distributiors LLC) dated December 1, 1999 incorporated by reference as exhibit EX-99.B8.p. from Post-Effective
Amendment No. 1 to Registrant’s Form N-4 (File Nos. 333-171427 and 811-05618), electronically filed on October 17, 2011.
|
||||||||||
23.
|
-
|
Amendment dated April 30, 2012 to Participation Agreement between Allianz
Life Insurance Company of North America, PIMCO Variable Insurance Trust and PIMCO Investments LLC (formerly Allianz Global Investors Distributiors LLC) dated December 1, 1999 incorporated by reference as exhibit EX-99.B8.q. from Post-Effective
Amendment No. 7 to Registrant’s Form N-4 (File Nos. 333-171427 and 811-05618) electronically filed on April 6, 2012.
|
||||||||||
24.
|
-
|
Amendment dated September 1, 2012 to Participation Agreement between Allianz
Life Insurance Company of North America, PIMCO Variable Insurance Trust and PIMCO Investments LLC (formerly Allianz Global Investors Distributiors LLC) dated December 1, 1999 incorporated by reference as exhibit EX-99.B8.y. from Post-Effective
Amendment No. 34 to Registrant’s Form N-4 (File Nos. 333-139701 and 811-05618) electronically filed on February 4, 2013.
|
||||||||||
25.
|
-
|
Amendments to Participation Agreement pursuant to the requirements of Rule 498
for Summary Prospectus between PIMCO Variable Insurance Trust, PIMCO Equity Series VI, PIMCO Investments LLC, and Allianz Life Insurance Company of North America, dated 10/12/2015, incorporated by reference as exhibit EX-99.B8.ae. from
Post-Effective Amendment No. 14 to Registrant's Form N-4 (File Nos. 333-182987 and 811-05618), electronically filed on April 19, 2016.
|
||||||||||
26.
|
Fund Participation Agreement between Allianz Life Insurance
Company of North America, The Prudential Series Fund, Inc., Prudential Investments Fund Management LLC, and Prudential Investment Management Services, LLC, dated 12/15/2000 incorporated by reference as
exhibit EX-99.B8.k. from Post-Effective Amendment No. 2 to Registrant's Form N-4 (File Nos. 333-82329 and 811-05618), electronically filed on December 15, 2000.
|
|||||||||||
27.
|
Fund Participation Agreement between Seligman Portfolios, Inc. and Allianz Life Insurance Company of North America, dated 12/1/1999 incorporated by reference as exhibit EX-99.B8.j. from Pre-Effective Amendment No. 1 to Registrant's Form N-4 (File Nos. 333-82329 and
811-05618), electronically filed December 30, 1999.
|
|||||||||||
28.
|
-
|
Amendments to Participation Agreement between Seligman Portfolios, Inc. and
Allianz Life Insurance Company of North America, dated 2/1/00, 5/1/02, 5/1/03, 4/30/04, 5/1/06 incorporated by reference as exhibit EX-99.B8.ad. from Post-Effective Amendment No. 18 to Registrant's Form N-4 (File Nos. 333-82329 and 811-05618),
electronically filed on April 23, 2007.
|
||||||||||
29.
|
Amended and Restated Participation Agreement dated November 1, 2015, between Allianz
Variable Insurance Products Trust, Allianz Life Insurance Company of North America, and Allianz Life Financial Services, LLC, filed on February 12, 2016 as Exhibit (e)(2) to Registrant's Post-Effective Amendment No. 53 (File Nos. 333-83423 and
811-09491), is incorporated by reference.
|
|||||||||||
30.
|
Amended and Restated Participation Agreement, dated November 1, 2015, between
Allianz Variable Insurance Products Fund of Funds Trust, Allianz Life Insurance Company of North America, and Allianz Life Financial Services, LLC, filed on April 18, 2016, as Exhibit (e)(2) to Registrant’s Post-Effective Amendment No. 28 (File
Nos. 333-119867 and 811-21624), is incorporated by reference.
|
|||||||||||
(i)
|
1.
|
Administrative Services Agreement between BlackRock
Advisors, LLC and Allianz Life, dated May 1, 2008 incorporated by reference as exhibit EX-99.B8.d. from Post-Effective Amendment No. 14 to Registrant’s Form N-4 (File Nos. 333-139701 and 811-05618), electronically filed on April 3, 2009.
|
||||||||||
2.
|
-
|
Amendment No. 3, Effective January 1, 2022, to the Administrative
Services Agreement between BlackRock Advisors, LLC and Allianz Life, dated May 1, 2008, , incorporated by reference as exhibit 27(i)(1)(i). from Post-Effective Amendment No. 37 to Registrant's Form N-4
(File Nos. 333-82329 and 811-05618), electronically filed on April 26, 2022..
|
||||||||||
3.
|
Administrative Services Agreement between The Dreyfus
Corporation and Allianz Life Insurance Company of North America, dated 5/1/2002 incorporated by reference as exhibit EX-99.B8.f. from Post-Effective Amendment No. 18 to Registrant's Form N-4 (File Nos. 333-82329 and 811-05618), electronically
filed on April 23, 2007.
|
|||||||||||
4.
|
-
|
Amendments to Administrative Services Agreement between The Dreyfus Corporation
and Allianz Life Insurance Company of North America, dated 8/7/02, 10/16/06 incorporated by reference as exhibit EX-99.B8.g. from Post-Effective Amendment No. 18 to Registrant's Form N-4 (File Nos. 333-82329 and 811-05618), electronically filed
on April 23, 2007.
|
||||||||||
5.
|
Administrative Services Agreement between Franklin
Templeton Services LLC and Allianz Life Insurance Company of North America, dated 10/1/2003 incorporated by reference as exhibit EX-99.B8.ac. from Pre-Effective Amendment No.2 to Registrant's Form N-4 (File Nos. 333-120181 and 811-05618),
electronically filed on March 30, 2005.
|
|||||||||||
6.
|
-
|
Amendment to Administrative Services Agreement between Franklin Templeton
Services LLC and Allianz Life Insurance Company of North America, dated 8/08/2008 incorporated by reference as exhibit EX-99.B8.h. from Post-Effective Amendment No. 14 to Registrant's Form N-4 (File Nos. 333-139701 and 811-05618),
electronically filed on April 3, 2009.
|
||||||||||
7.
|
-
|
Amendment to Administrative Services Agreement between Franklin Templeton
Services LLC and Allianz Life Insurance Company of North America, dated July 16, 2012 incorporated by reference as exhibit EX-99.B8.h. from Post-Effective Amendment No. 4 to Registrant's Form N-4 (File Nos. 333-166408 and 811-05618)
electronically filed on August 21, 2012.
|
||||||||||
8.
|
-
|
Amendment to Administrative Services Agreement between Franklin
Templeton Services LLC and Allianz Life Insurance Company of North America, dated August 17, 2022 incorporated by reference as 27(i)(5) from Post-Effective Amendment No. 24 to Registrant’s Form N-4 (File Nos.333-182987 and 811-05618),
electronically filed April 24, 2023.
|
||||||||||
9.
|
Administrative Support Service Agreement between OppenheimerFunds, Inc. and Allianz Life Insurance Company of North America, dated 12/1/1999 incorporated by reference as exhibit EX-99.B8.u. from Post-Effective Amendment No. 12 to Registrant's Form N-4 (File Nos. 333-95729 and
811-05618), electronically filed on April 26, 2004.
|
|||||||||||
10.
|
-
|
Amendment to Administrative Support Service Agreement between OppenheimerFunds,
Inc. and Allianz Life Insurance Company of North America, dated 2/1/00 incorporated by reference as exhibit EX-99.B8.r. from Post-Effective Amendment No. 18 to Registrant's Form N-4 (File Nos. 333-82329 and 811-05618), electronically filed on
April 23, 2007.
|
||||||||||
11.
|
-
|
Amendment to the Letter of Understanding of the Administrative
Support Service Agreement and between OppenheimerFunds Distributor, Inc. and Allianz Life Insurance Company of North America, dated February 1, 2014, incorporated by reference as exhibit EX-99.B8.v. from Post-Effective Amendment No. 14 to
Registrant's Form N-4 (File Nos. 333-90260 and 811-05618), electronically filed on April 17, 2014.
|
||||||||||
12.
|
Administrative Services Agreement between PIMCO Variable Insurance Trust and Allianz Life Insurance Company of North America dated December 4, 2009 and Amendment dated April 1, 2012 incorporated by reference as exhibit EX-99.B8.v. from Post-Effective Amendment No. 9 to
Registrant’s Form N-4 (File Nos. 333-171427 and 811-05618) electronically filed on June 7, 2012.
|
|||||||||||
13.
|
Master Professional Services Agreement effective January 1, 2020 between
Allianz Life Insurance Company of North America and Tata Consultancy Services Limited, incorporated by reference as exhibit 27(i)(1). from Post-Effective Amendment No. 23 to Registrant's Form N-4 (File Nos. 333-185866 and 811-05618),
electronically filed on April 18, 2022.
|
|||||||||||
14.
|
BPO Service Description and Statement of Work of the Master Professional Serives
Agreement between Allianz Life Insurance Company of North America and Tata Consultancy Services Limited effective January 1, 2020, incorporated by reference as exhibit 27(i)(2). from Post-Effective Amendment No. 23 to Registrant's Form
N-4 (File Nos. 333-185866 and 811-05618), electronically filed on April 18, 2022.
|
|||||||||||
15.
|
Attachment 2-F to BPO Schedule 2 of the BPO Service Description and Statement
of Work of the Master Professional Serives Agreement between Allianz Life Insurance Company of North America and Tata Consultancy Services Limited effective January 1, 2020, incorporated by reference as exhibit 27(i)(3). from
Post-Effective Amendment No. 23 to Registrant's Form N-4 (File Nos. 333-185866 and 811-05618), electronically filed on April 18, 2022.
|
|||||||||||
(j)
|
1.
|
22c-2 Agreements incorporated by reference as exhibit EX-99.B8.a. from
Post-Effective Amendment No. 20 to Registrant's Form N-4 (File Nos. 333-82329 and 811-05618), electronically filed on April 24, 2008.
|
||||||||||
2.
|
22c-2 Agreement-BlackRock Distributors, Inc. incorporated by reference as exhibit
EX-99.B8.b. from Post-Effective Amendment No. 14 to Registrant's Form N-4 (File Nos. 333-139701 and 811-05618), electronically filed on April 3, 2009.
|
|||||||||||
3.
|
Disribution/12 b-1 Letter Agreement between Dreyfus
Service Corporation and USAllianz Investor Services, LLC (predecessor to Allianz Life Financial Services, LLC.), dated 5/1/2002 incorporated by reference as exhibit EX-99.B8.h. from Post-Effective Amendment No. 18 to Registrant's Form
N-4 (File Nos. 333-82329 and 811-05618), electronically filed on April 23, 2007.
|
|||||||||||
4.
|
Amended and Restated Services Agreement between Pacific
Investment Management Company LLC and Allianz Life Insurance Company of North America, dated 01/01/2007 incorporated by reference as exhibit EX-99.B8.u. from Post-Effective Amendment No. 18 to Registrant's Form N-4 (File Nos. 333-82329
and 811-05618), electronically filed on April 23, 2007.
|
|||||||||||
5.
|
Service Agreement between J.&W. Seligman &
Co. Incorporated and Allianz Life Insurance Company of North America, dated 12/16/1999 incorporated by reference as exhibit EX-99.B8.x. from Post-Effective Amendment No. 12 to Registrant's Form N-4 (File Nos. 333-95729 and 811-05618),
electronically filed on April 26, 2004.
|
|||||||||||
6.
|
Services Agreement between Prudential
Investment Management Services LLC and Allianz Life Insurance Company of North America, dated 12/15/2000 incorporated by reference as exhibit EX-99.B8.w. from Post-Effective Amendment No. 12 to Registrant's Form N-4 (File Nos. 333-95729 and
811-05618), electronically filed on April 26, 2004.
|
|||||||||||
7.
|
-
|
Amendment to Services Agreement between Prudential Investment Management Services
LLC and Allianz Life Insurance Company of North America, dated 9/9/2002 incorporated by reference as exhibit EX-99.B8.z. from Post-Effective Amendment No. 18 to Registrant's Form N-4 (File Nos. 333-82329 and 811-05618), electronically filed on
April 23, 2007.
|
||||||||||
(k)*
|
||||||||||||
(l)*
|
||||||||||||
(m)
|
Not Applicable
|
|||||||||||
(n)
|
Not Applicable
|
|||||||||||
(o)
|
Not Applicable
|
|||||||||||
(p)*
|
||||||||||||
*
|
||||||||||||
**
|
To be filed by amendment
|
Unless noted otherwise, all officers and directors have the following principal business address:
|
|
5701 Golden Hills Drive
|
|
The following are the Officers and Directors of the Company:
|
|
Name and Principal Business Address
|
Positions and Offices with Depositor
|
Director, President, and Chief Executive Officer
|
|
Andreas G. Wimmer
Allianz SE
Königinstraße 28
Munich, Germany 80802
|
Director and Board Chair
|
William E. Gaumond
|
Director, Senior Vice President, Chief Financial Officer, and Treasurer
|
Eric J. Thomes
|
Senior Vice President, Chief Distribution Officer
|
Neil H. McKay
|
Senior Vice President, Chief Actuary
|
Gretchen Cepek
|
Senior Vice President, General Counsel, and Secretary
|
Jean-Roch P.F. Sibille
|
Senior Vice President, Chief Investment Officer
|
Becca Wysocki
|
Vice President, Controller and Assistant Treasurer
|
Jenny L. Guldseth
|
Senior Vice President, Chief People and Culture Officer
|
Emmanuelle Thommerot
|
Senior Vice President, Chief Marketing and Strategy Officer
|
Karim Akhavan-Hezavei
|
Senior Vice President, Chief Operating Officer
|
Walter R. White
|
Director
|
Udo Frank
|
Director
|
Kevin E. Walker
|
Director
|
Howard E. Woolley
|
Director
|
Lauren Kathryn Day
Allianz SE
Koeniginstrasse 28
Munich, Germany 80802
|
Director
|
Indemnification provision, as required by the ’33 Act, Rule 484
|
||
The Bylaws of the Insurance Company provide:
|
||
ARTICLE XI. INDEMNIFICATION OF DIRECTORS, OFFICERS AND EMPLOYEES
|
||
SECTION 1. RIGHT TO INDEMNIFICATION:
|
||
(a)
|
Subject to the conditions of this Article and any conditions or limitations imposed by applicable law, the Corporation shall indemnify any employee, director or officer of
the Corporation (an "Indemnified Person") who was, is, or in the sole opinion of the Corporation, may reasonably become a party to or otherwise involved in any Proceeding by reason of the fact that such Indemnified Person is or was:
|
|
(i)
|
a director of the Corporation; or
|
|
(ii)
|
acting in the course and scope of his or her duties as an officer or employee of the Corporation; or
|
|
(iii)
|
rendering Professional Services at the request of and for the benefit of the Corporation; or
|
|
(iv)
|
serving at the request of the Corporation as an officer, director, fiduciary or member of another corporation, association, committee, partnership, joint venture, trust,
employee benefit plan or other enterprise (an "Outside Organization").
|
|
(b)
|
Notwithstanding the foregoing, no officer, director or employee shall be indemnified pursuant to these bylaws under the following circumstances:
|
|
(i)
|
in connection with a Proceeding initiated by such person, in his or her own personal capacity, unless such initiation was authorized by the Board of Directors;
|
|
(ii)
|
if a court of competent jurisdiction finally determines that any indemnification hereunder is unlawful;
|
|
(iii)
|
for acts or omissions involving intentional misconduct or knowing and culpable violation of law;
|
|
(iv)
|
for acts or omissions that the Indemnified Person believes to be contrary to the best interests of the Corporation or its shareholders or that involve the absence of good
faith on the part of the Indemnified Person;
|
|
(v)
|
for any transaction for which the Indemnified Person derived an improper personal benefit;
|
|
(vi)
|
for acts or omissions that show a reckless disregard for the Indemnified Person's duty to the Corporation or its shareholders in circumstances in which the Indemnified
Person was aware or should have been aware, in the ordinary course of performing the Indemnified Person's duties, of the risk of serious injury to the Corporation or its shareholders;
|
|
(vii)
|
for acts or omissions that constitute an unexcused pattern of inattention that amounts to an abdication of the Indemnified Person's duties to the Corporation or its
shareholders;
|
|
(viii)
|
in circumstances where indemnification is prohibited by applicable law;
|
|
(ix)
|
in the case of service as an officer, director, fiduciary or member of an Outside Organization, where the Indemnified Person was aware or should have been aware that the
conduct in question was outside the scope of the assignment as contemplated by the Corporation.
|
|
SECTION 2. SCOPE OF INDEMNIFICATION:
|
||
(a)
|
Indemnification provided pursuant to Section 1(a)(iv) shall be secondary and subordinate to indemnification or insurance provided to an Indemnified Person by an Outside
Organization or other source, if any.
|
|
(b)
|
Indemnification shall apply to all reasonable expenses, liability and losses, actually incurred or suffered by an Indemnified Person in connection with a Proceeding,
including without limitation, attorneys' fees and any expenses of establishing a right to indemnification or advancement under this article, judgments, fines, ERISA excise taxes or penalties, amounts paid or to be paid in settlement and all
interest, assessments and other charges paid or payable in connection with or in respect of such expense, liability and loss.
|
|
(c)
|
Such indemnification shall continue as to any Indemnified Person who has ceased to be an employee, director or officer of the Corporation and shall inure to the benefit of
his or her heirs, estate, executors and administrators.
|
|
SECTION 3. DEFINITIONS:
|
||
(a)
|
"Corporation" for the purpose of Article XI shall mean Allianz Life Insurance Company of North America and all of its subsidiaries.
|
|
(b)
|
"Proceeding" shall mean any threatened, pending, or completed action, suit or proceeding whether civil, criminal, administrative, investigative or otherwise, including
actions by or in the right of the Corporation to procure a judgment in its favor.
|
|
(c)
|
"Professional Services" shall mean services rendered pursuant to (i) a professional actuarial designation, (ii) a license to engage in the practice of law issued by a State
Bar Institution or (iii) a Certified Public Accountant designation issued by the American Institute of Certified Public Accountants.
|
|
Insofar as indemnification for liability arising under the Securities Act of 1933 may be permitted for directors and officers or controlling persons of the Insurance Company
pursuant to the foregoing, or otherwise, the Insurance Company has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and, therefore, unenforceable.
In the event that a claim for indemnification against such liabilities (other than the payment by the Insurance Company of expenses incurred or paid by a director, officer or controlling person of the Insurance Company in the successful defense
of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Company will, unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
|
Allianz Life Financial Services, LLC (previously USAllianz Investor Services, LLC) is the principal underwriter for the Contracts. It also is the principal underwriter for:
|
|||||
Allianz Life Variable Account A
|
|||||
Allianz Life of NY Variable Account C
|
|||||
Allianz Funds
|
|||||
The following are the officers (managers) and directors (Board of Governors) of Allianz Life Financial Services, LLC. All officers and directors have the following principal
business address:
|
|||||
5701 Golden Hills Drive
|
|||||
|
|||||
Name
|
Positions and Offices with Underwriter
|
||||
Corey J. Walther
|
Governor and President
|
||||
Eric J. Thomes
|
Governor, Chief Executive Officer, and Chief Manager
|
||||
William E. Gaumond
|
Governor
|
||||
Amy K. Borden
|
Chief Financial Officer and Treasurer
|
||||
John C. Helmen
|
Assistant Vice President, Distribution National Accounts
|
||||
Matthew C. Dian
|
Vice President, Chief Compliance Officer
|
||||
Kristine M. Lord-Krahn
|
Chief Legal Officer and Secretary
|
||||
Nicole D. Van Walbeek
|
Assistant Secretary
|
||||
For the period 1-1-2023 to 12-31-2023
|
|||||
Name of Principal Underwriter
|
Net Underwriting Discounts and Commissions
|
Compensation on Redemption
|
Brokerage Commissions
|
Compensation
|
|
Allianz Life Financial Services, LLC
|
$401,570,139.26
|
$0
|
$0
|
$0
|
|
The $401,570,139.26 that Allianz Life Financial Services, LLC received from Allianz Life as commissions on the sale of Contracts issued under Allianz Life
Variable Account B was subsequently paid entirely to the third party broker/dealers that perform the retail distribution of the Contracts and, therefore, no commission or compensation was retained by Allianz Life Financial Services, LLC.
|
1. |
Include appropriate disclosure regarding the redemption restrictions imposed by Section 403(b)(11) in each registration statement, including the prospectus, used in connection with the offer of
the contract;
|
2. |
Include appropriate disclosure regarding the redemption restrictions imposed by Section 403(b)(11) in any sales literature used in connection with the offer of the contract;
|
3. |
Instruct sales representatives who solicit participants to purchase the contract specifically to bring the redemption restrictions imposed by Section 403(b)(11) to the attention of the potential
participants;
|
4. |
Obtain from each plan participant who purchases a Section 403(b) annuity contract, prior to or at the time of such purchase, a signed statement acknowledging the participant's understanding of
(1) the restrictions on redemption imposed by Section 403(b)(11), and (2) other investment alternatives available under the employer's Section 403(b) arrangement to which the participant may elect to transfer his contract value.
|
Signature
|
Title
|
Jasmine Jirele(1)
|
Director, President & Chief Executive Officer
|
Andreas G. Wimmer(1)
|
Director and Board Chair
|
Walter R. White(1)
|
Director
|
Udo Frank(1)
|
Director
|
William E. Gaumond(1)
|
Director, Senior Vice President, Chief Financial Officer and Treasurer (principal accounting officer)
|
Kevin E. Walker(1)
|
Director
|
Howard E. Woolley(1)
|
Director
|
Lauren Kathryn Day(1)
|
Director
|
(1) |
By Power of Attorney incorporated by reference as exhibit 27(p).
|
27(c)3
|
The current specimen of the selling agreement
|
27(k)
|
Opinion and Consent of Counsel
|
27(l)
|
Consent of Independent Registered Public Accounting Firm
|
27(p)
|
Powers of Attorney
|
29
|
Insurance Company Organizational Chart
|
This ‘485BPOS’ Filing | Date | Other Filings | ||
---|---|---|---|---|
12/31/32 | ||||
Effective on: | 5/1/24 | 485BPOS | ||
Filed on: | 4/26/24 | 485BPOS | ||
3/14/24 | 485BXT, N-CEN | |||
1/1/24 | ||||
12/31/23 | 24F-2NT, N-CEN, N-VPFS | |||
4/24/23 | 497 | |||
12/31/22 | 24F-2NT, N-4/A, N-CEN, N-VPFS | |||
8/17/22 | ||||
4/26/22 | 497 | |||
4/18/22 | 485BPOS | |||
1/1/22 | ||||
1/1/20 | ||||
12/31/19 | 24F-2NT, N-CEN | |||
12/20/19 | ||||
4/19/16 | 485BPOS | |||
4/18/16 | ||||
2/12/16 | ||||
11/1/15 | ||||
4/17/14 | 485BPOS, 485BXT | |||
4/14/14 | 485BPOS | |||
2/1/14 | ||||
1/16/14 | ||||
2/4/13 | 485APOS, 497 | |||
1/3/13 | N-4 | |||
8/21/12 | 485BPOS | |||
7/16/12 | ||||
6/7/12 | 485APOS | |||
4/6/12 | 485BPOS | |||
4/1/12 | ||||
10/17/11 | 485APOS | |||
4/26/11 | 485BPOS, CORRESP | |||
9/24/10 | N-4/A | |||
6/1/10 | 497 | |||
12/4/09 | ||||
6/1/09 | ||||
4/3/09 | 485BPOS | |||
3/13/09 | ||||
5/1/08 | 485BPOS | |||
4/24/08 | 485BPOS | |||
6/22/07 | 497 | |||
4/23/07 | 485BPOS | |||
2/22/07 | ||||
12/1/06 | 497 | |||
8/1/06 | ||||
4/27/06 | 485BPOS | |||
4/29/05 | 485BPOS | |||
4/27/05 | 485BPOS, 497J | |||
3/30/05 | N-4/A | |||
4/26/04 | 485BPOS | |||
4/25/03 | 485BPOS, 497 | |||
1/6/03 | ||||
10/25/02 | 485BPOS | |||
9/9/02 | N-4/A | |||
9/11/01 | ||||
12/15/00 | 485BPOS | |||
12/30/99 | N-4/A | |||
12/1/99 | ||||
12/13/96 | N-4 EL/A | |||
6/25/96 | POS AMI | |||
List all Filings |