| 485BPOS                                                                                                         |                                                                                                           | File Nos. 333-90260   |
|-----------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------|-----------------------|
| Allianz High Five                                                                                               |                                                                                                           | 811-05618             |
|                                                                                                            |                                                                                                           | Class I.D. C000007181 |
|                                                                                                            | UNITED STATES                                                                                                  |                  |
|                                                                                                            | SECURITIES AND EXCHANGE COMMISSION                                                                             |                  |
|                                                                                                            | WASHINGTON, D.C. 20549                                                                                         |                  |
|                                                                                                            | FORM N-4                                                                                                       |                  |
|                                                                                                            |                                                                                                           |                  |
| REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933                                                         |
| Pre-Effective Amendment No.                                                                                     |                                                                                                           |                  |   |
| Post-Effective Amendment No.                                                                                    | 13                                                                                                             |                  | X |
| and/or                                                                                                          |                                                                                                           |
| REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940                                                 |                                                                                                           |
| Amendment No.                                                                                                   | 375                                                                                                            |                  | X |
|                                                                                                            |
| (Check appropriate box or boxes.)                                                                               |
| ALLIANZ LIFE VARIABLE ACCOUNT B                                                                                 |
| (Exact Name of Registrant)                                                                                      |
|                                                                                                            |
| ALLIANZ LIFE INSURANCE COMPANY OF NORTH AMERICA                                                                 |
| (Name of Depositor)                                                                                             |
|                                                                                                            |
| 5701 Golden Hills Drive, Minneapolis, MN 55416-1297                                                             |
| (Address of Depositor's Principal Executive Offices) (Zip Code)                                                 |
|                                                                                                            |
| (763) 765-2913                                                                                                  |
| (Depositor's Telephone Number, including Area Code)                                                             |
|                                                                                                            |
| Stewart D. Gregg, Senior Securities Counsel                                                                     |
| Allianz Life Insurance Company of North America                                                                 |
| 5701 Golden Hills Drive                                                                                         |
| Minneapolis, MN 55416-1297                                                                                      |
| (Name and Address of Agent for Service)                                                                         |
|                                                                                                            |
| It is proposed that this filing will become effective (check the appropriate box):                              |
|                                                                                                            | immediately upon filing pursuant to paragraph (b) of Rule 485                                                  |
| x                                                                                                               | on April 29, 2013  pursuant to paragraph (b) of Rule 485                                             |
|                                                                                                            | 60 days after filing pursuant to paragraph (a)(1) of Rule 485                                                  |
|                                                                                                            | on (date) pursuant to paragraph (a)(1) of Rule 485                                                             |
| If appropriate, check the following:                                                                            |
|                                                                                                            | this post-effective amendment designates a new effective date for a previously filed post-effective amendment. |
| Approximate Date of the Proposed Public Offering: April 29, 2013                                                |
| Titles of Securities Being Registered: Individual Flexible Purchase Payment Variable Deferred Annuity Contracts |

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|   | PART A – PROSPECTUS |
|--------|---------------------------|

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| ALLIANZ FUND OF FUNDSAZL® Balanced Index Strategy FundAZL® Growth Index Strategy FundAZL MVP FusionSM Balanced FundAZL MVP FusionSM Growth FundAZL MVP FusionSM Moderate FundBLACKROCKAZL® BlackRock Capital Appreciation FundAZL® International Index FundAZL® Mid Cap Index FundAZL® Money Market FundAZL® S&P 500 Index FundAZL® Small Cap Stock Index FundBlackRock Global Allocation V.I. FundCOLUMBIAAZL® Columbia Mid Cap Value FundAZL® Columbia Small Cap Value FundColumbia Variable Portfolio – Select Smaller-Cap Value Fund(1)DAVISAZL® Davis New York Venture FundDavis VA Financial PortfolioDavis VA Value Portfolio(3)DREYFUSAZL® Dreyfus Research Growth FundFEDERATEDAZL® Federated Clover Small Value FundFRANKLIN TEMPLETONFranklin Global Real Estate Securities FundFranklin Growth and Income Securities FundFranklin High Income Securities FundFranklin Income Securities FundFranklin Large Cap Growth Securities FundFranklin Rising Dividends Securities FundFranklin Small-Mid Cap Growth Securities FundFranklin Small Cap Value Securities Fund(2)Franklin Templeton VIP Founding Funds Allocation FundFranklin U.S. Government FundMutual Shares Securities Fund | FRANKLIN TEMPLETON (continued)Templeton Foreign Securities FundTempleton Global Bond Securities FundTempleton Growth Securities FundINVESCOAZL® Invesco Equity and Income FundAZL® Invesco Growth and Income FundAZL® Invesco International Equity FundJ.P. MORGANAZL® JPMorgan International Opportunities FundAZL® JPMorgan U.S. Equity FundMFSAZL® MFS Investors Trust FundAZL® MFS Value FundMORGAN STANLEYAZL® Morgan Stanley Global Real Estate FundAZL® Morgan Stanley Mid Cap Growth FundOPPENHEIMER FUNDSAZL® Oppenheimer Discovery FundOppenheimer Global Fund/VA(3)Oppenheimer Global Strategic Income Fund/VAOppenheimer Main Street Fund®/VA(3)PIMCOPIMCO EqS Pathfinder PortfolioPIMCO VIT All Asset PortfolioPIMCO VIT CommodityRealReturn® Strategy PortfolioPIMCO VIT Emerging Markets Bond PortfolioPIMCO VIT Global Bond Portfolio (Unhedged)PIMCO VIT High Yield PortfolioPIMCO VIT Real Return PortfolioPIMCO VIT Total Return PortfolioPRUDENTIALJennison PortfolioSP International Growth PortfolioSCHRODERAZL® Schroder Emerging Markets Equity Fund |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Available for transfers only to Owners with Contract Value in this Investment Option on April 29, 2005. |
|-----|---------------------------------------------------------------------------------------------------------|

| (3) | Available for transfers only to Owners with Contract Value in this Investment Option on April 30, 2004. |
|-----|---------------------------------------------------------------------------------------------------------|

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|   | TABLE OF CONTENTS |
|--------|-------------------|

| Glossary   | 4                                                    |   | Distributions – Non-Qualified Contracts | 52                                                 |
|------------|------------------------------------------------------|--------|-----------------------------------------------|----------------------------------------------------|
| Fee Tables | 7                                                    |   | Distributions – Qualified Contracts     | 53                                                 |
|       | Contract Owner Transaction Expenses                  | 7      |                                          | Assignments, Pledges and Gratuitous Transfers      | 54 |
|       | Contract Owner Periodic Expenses                     | 8      |                                          | Death Benefits                                     | 54 |
|       | Annual Operating Expenses of the Investment Options  | 8      |                                          | Withholding                                        | 54 |
|       | Examples                                             | 9      |                                          | Federal Estate Taxes                               | 54 |
| 1.         | The Variable Annuity Contract                        | 10     |                                          | Generation-Skipping Transfer Tax                   | 54 |
|       | Ownership                                            | 11     |                                          | Foreign Tax Credits                                | 54 |
| 2.         | Purchase                                             | 13     |                                          | Annuity Purchases by Nonresident Aliens and        |   |
|       | Purchase Payments                                    | 13     |                                          | Foreign Corporations                               | 54 |
|       | Automatic Investment Plan (AIP)                      | 14     |                                          | Possible Tax Law Changes                           | 55 |
|       | Allocation of Purchase Payments                      | 14     |                                          | Diversification                                    | 55 |
|       | Tax-Free Section 1035 Exchanges                      | 15     |                                          | Required Distributions                             | 55 |
|       | Accumulation Units/ Computing the Contract Value     | 15     | 9.                                            | Access to Your Money                               | 56 |
| 3.         | The Annuity Phase                                    | 16     |                                          | Partial Withdrawal Privilege                       | 57 |
|       | Income Date                                          | 16     |                                          | Waiver of Withdrawal Charge Benefits               | 57 |
|       | Traditional Annuity Payments                         | 16     |                                          | Guaranteed Withdrawal Benefit (GWB)                | 57 |
|       | Guaranteed Minimum Income Benefit (GMIB)             | 17     |                                          | Systematic Withdrawal Program                      | 60 |
|       | Taxation of GMIB Payments                            | 19     |                                          | Minimum Distribution Program and Required          |   |
|       | Amount Used To Calculate GMIB Payments               | 19     |                                          | Minimum Distribution (RMD) Payments                | 60 |
|       | GMIB Value                                           | 19     |                                          | Suspension of Payments or Transfers                | 61 |
|       | GMIB Adjusted Partial Withdrawals                    | 20     | 10.                                           | Death Benefit                                      | 61 |
|       | Annuity Options                                      | 20     |                                          | Traditional Guaranteed Minimum Death Benefit       |   |
|       | Partial Annuitization                                | 23     |                                          | (Traditional GMDB)                                 | 61 |
| 4.         | Investment Options                                   | 24     |                                          | Enhanced Guaranteed Minimum Death Benefit          |   |
|       | Substitution and Limitation on Further Investments   | 30     |                                          | (Enhanced GMDB)                                    | 62 |
|       | Transfers Between Investment Choices                 | 31     |                                          | GMDB Adjusted Partial Withdrawal Formula           | 63 |
|       | Excessive Trading and Market Timing                  | 32     |                                          | When the Death Benefit Ends                        | 63 |
|       | Dollar Cost Averaging (DCA) Program                  | 33     |                                          | Death of the Owner Under Inherited IRA Contracts   | 63 |
|       | Flexible Rebalancing                                 | 34     |                                          | Death of the Owner and/or Annuitant Under          |   |
|       | Financial Advisers – Asset Allocation Programs | 34     |                                          | All Other Contracts                                | 64 |
|       | Voting Privileges                                    | 35     |                                          | Death Benefit Payment Options During the           |   |
| 5.         | Our General Account                                  | 35     |                                          | Accumulation Phase                                 | 67 |
|       | Fixed Period Accounts (FPAs)                         | 36     | 11.                                           | Other Information                                  | 68 |
|       | Market Value Adjustment (MVA)                        | 37     |                                          | Allianz Life                                       | 68 |
| 6.         | Guaranteed Account Value (GAV) Benefit               | 40     |                                          | The Separate Account                               | 68 |
|       | Calculating the GAV                                  | 41     |                                          | Distribution                                       | 68 |
|       | GAV Transfers                                        | 43     |                                          | Additional Credits for Certain Groups              | 69 |
|       | The GAV Fixed Account Minimum                        | 45     |                                          | Administration/Allianz Service Center              | 70 |
|       | Resetting the GAV Benefit                            | 45     |                                          | Legal Proceedings                                  | 70 |
|       | Other Information on the GAV Benefit                 | 46     |                                          | Financial Statements                               | 70 |
| 7.         | Expenses                                             | 46     |                                          | Status Pursuant to Securities Exchange Act of 1934 | 70 |
|       | Mortality and Expense Risk (M&E) Charge          | 46     | 12.                                           | Table of Contents of the Statement of Additional   |   |
|       | Contract Maintenance Charge                          | 47     |                                          | Information (SAI)                                  | 71 |
|       | Withdrawal Charge                                    | 47     | 13.                                           | Privacy and Security Statement                     | 72 |
|       | Transfer Fee                                         | 49     |                                          |                                               |
|       | Premium Tax                                          | 50     |                                          |                                               |
|       | Income Tax                                           | 50     |                                          |                                               |
|       | Investment Option Expenses                           | 50     |                                          |                                               |
| 8.         | Taxes                                                | 50     |                                          |                                               |
|       | Annuity Contracts in General                         | 50     |                                          |                                               |
|       | Qualified Contracts                                  | 50     |                                          |                                               |
|       | Multiple Contracts                                   | 51     |                                          |                                               |   |
|       | Partial 1035 Exchanges                               | 52     |                                          |                                               |   |

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| Appendix A – Condensed Financial Information    | 74                 |
|-------------------------------------------------------|--------------------|
| Appendix B – GMIB Value Calculation Examples    | 82                 |
| Appendix C – GAV Calculation Examples           | 83                 |
| Appendix D – Death Benefit Calculation Examples | 85                 |
| Appendix E – The Original Contract              | 87                 |
| Appendix F – Withdrawal Charge Examples         | 90                 |
| For Service or More Information                       | 92                 |
|                                                  | Our Service Center | 92 |
|                                                  |               |   |

|   | GLOSSARY |
|--------|----------|

| FPA  | = | Fixed Period Account              |   | GWB    | =      | Guaranteed Withdrawal Benefit |
|------|---|-----------------------------------|--------|--------|--------|-------------------------------|
| GAV  | = | Guaranteed Account Value          |   | MAV    | =      | Maximum Anniversary Value     |
| GMDB | = | Guaranteed Minimum Death Benefit  |   | MVA    | =      | Market Value Adjustment       |
| GMIB | = | Guaranteed Minimum Income Benefit |   |   |   |                          |

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|   | FEE TABLES |
|--------|------------|

| Number of Complete Years Since We Received Your Purchase Payment | Charge |
|------------------------------------------------------------------|--------|
| 0                                                                | 8%     |
| 1                                                                | 8%(4)  |
| 2                                                                | 7%     |
| 3                                                                | 6%     |
| 4                                                                | 5%     |
| 5                                                                | 4%     |
| 6                                                                | 3%     |
| 7 years or more                                                  | 0%     |

| Transfer Fee(5)………………………………….......   | $25        |
|---------------------------------------------------------------------------------------------------------------------|------------|
| Premium Tax(6)……………………………………... | 0% to 3.5% |
| (as a percentage of each Purchase Payment)                                                                          |       |

| (1) | Amounts withdrawn or transferred out of a FPA may be subject to an MVA. This MVA may increase or decrease your Contract Value and/or your transfer or withdrawal amount. For more information, please see section 5, Our General Account – Market Value Adjustment (MVA). |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The partial withdrawal privilege for each Contract Year is equal to 12% of your total Purchase Payments, less any previous withdrawals taken under the partial withdrawal privilege, GWB, or as a required minimum distribution payment in the same Contract Year and before any MVA. We do not deduct a withdrawal charge from amounts withdrawn under the partial withdrawal privilege, but an MVA may apply. There is no partial withdrawal privilege during the Annuity Phase. Any unused partial withdrawal privilege in one Contract Year is not added to the amount that is available in the next Contract Year. For more details and additional information on other penalty-free withdrawal options, please see the discussion of the partial withdrawal privilege and other information that appears in section 9, Access to Your Money. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | The total amount under your Contract that is subject to a withdrawal charge is the Withdrawal Charge Basis. The Withdrawal Charge Basis is equal to the total Purchase Payments, less any Purchase Payments withdrawn (excluding any penalty-free withdrawals), less any withdrawal charges. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | 7.5% in Alabama, Oregon, Pennsylvania, Utah and Washington. |
|-----|-------------------------------------------------------------|

| (5) | The first twelve transfers in a Contract Year are free. We count all transfers made in the same Business Day as one transfer. The following transfers are not subject to a transfer fee and do not count against any free transfers we allow: dollar cost averaging transfers, flexible rebalancing transfers, and GAV Transfers. Currently, we deduct this fee only during the Accumulation Phase, but we reserve the right to deduct this fee during the Annuity Phase. For more information, please see section 7, Expenses – Transfer Fee. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | It is our current practice not to make deductions from the Contract Value to reimburse ourselves for premium tax that we pay, although we reserve the right to make such a deduction in the future. For more information, please see section 7, Expenses ­– Premium Tax. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Contract Maintenance Charge(7)………………... | $40    |
|-----------------------------------------------------------------------------|--------|
| (per Contract per year)                                                     |   |

|   | Separate Account Annual Expenses |
|--------|----------------------------------|

|             | M&E Charge                                                               |
|------------------|------------------------------------------------------------------------------|
|             | February 2007 Contract andOriginal Contract issued on or after June 22, 2007 | Original Contract issued before June 22, 2007 and May 2005 Contract |
| Traditional GMDB | 1.25%                                                                        | 1.40% |
| Enhanced GMDB    | 1.45%                                                                        | 1.60% |

| Contract Maintenance Charge(7)………………... | $40    |
|-----------------------------------------------------------------------------|--------|
| (per Contract per year)                                                     |   |

|   | Separate Account Annual Expenses – if you request variable Traditional Annuity Payments |
|--------|-----------------------------------------------------------------------------------------------|

|                                                                          | M&E Charges(8) |
|-------------------------------------------------------------------------------|--------------------|
| February 2007 Contract and Original Contract issued on or after June 22, 2007 | 1.25%              |
| Original Contract issued before June 22, 2007 and May 2005 Contract           | 1.40%              |

| (7) | We waive the contract maintenance charge if the Contract Value is at least $75,000 at the time we are to deduct the charge. For more information, please see section 7, Expenses – Contract Maintenance Charge. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (8) | Because the Contract allows Partial Annuitization, it is possible for different portions of the Contract to be in both the Accumulation and Annuity Phases at the same time. It is also possible to have a different M&E charge on different portions of the Contract at the same time if you request variable Traditional Annuity Payments under a Partial Annuitization. For more information, please see section 3, The Annuity Phase – Partial Annuitization. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                                                                                                       | Minimum | Maximum |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|---------|
| Total annual Investment Option operating expenses*(including management fees, distribution or 12b-1 fees,and other expenses) before fee waivers and expense reimbursements | 0.51%   | 1.68%   |

| * | Some of the Investment Options or their affiliates may also pay service fees to us or our affiliates. The amount of these fees may be different for each Investment Option. The maximum current fee is 0.25%. The amount of these fees, if deducted from Investment Option assets, is reflected in the above table. |
|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | a) | February 2007 Contract and Original Contract issued on or after June 22, 2007 with the Enhanced GMDB |
|--------|----|------------------------------------------------------------------------------------------------------|

|   | (the highest M&E charge of 1.45%). |
|--------|----------------------------------------|

| b) | February 2007 Contract and Original Contract issued on or after June 22, 2007 with the Traditional GMDB |
|----|---------------------------------------------------------------------------------------------------------|

|   | (the lowest M&E charge of 1.25%). |
|--------|---------------------------------------|

| Total annual Investment Option operating expensesbefore any fee waivers or expense reimbursements of: |   | 1 Year | 3 Years | 5 Years | 10 Years |
|-------------------------------------------------------------------------------------------------------|--------|--------|---------|---------|----------|
| 1.68% (the maximum Investment Option operating expense)                                               | a)     | $1,156 | $1,786  | $2,340  | $3,839   |
| b)                                                                                                    | $1,136 | $1,727 | $2,243  | $3,652  |
| 0.51% (the minimum Investment Option operating expense)                                               | a)     | $1,039 | $1,435  | $1,757  | $2,685   |
| b)                                                                                                    | $1,019 | $1,374 | $1,654  | $2,473  |

| Total annual Investment Option operating expensesbefore any fee waivers or expense reimbursements of: |   | 1 Year | 3 Years | 5 Years | 10 Years |
|-------------------------------------------------------------------------------------------------------|--------|--------|---------|---------|----------|
| 1.68% (the maximum Investment Option operating expense)                                               | a)     | $356   | $1,086  | $1,840  | $3,839   |
| b)                                                                                                    | $336   | $1,027 | $1,743  | $3,652  |
| 0.51% (the minimum Investment Option operating expense)                                               | a)     | $239   | $735    | $1,257  | $2,685   |
| b)                                                                                                    | $219   | $674   | $1,154  | $2,473  |

| * | Traditional Annuity Payments are generally not available until after the second Contract Anniversary in most states, and GMIB Payments are not available until the fifth Contract Anniversary. |
|---|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 1. | THE VARIABLE ANNUITY CONTRACT |
|----|-------------------------------|

| · | The Business Day before the Income Date if you take a Full Annuitization. |
|--------|---------------------------------------------------------------------------|

| · | The Business Day we process your request for a full withdrawal. |
|--------|-----------------------------------------------------------------|

| · | Upon the death of any Owner (or the Annuitant if the Contract is owned by a non-individual), the Accumulation Phase ends on the Business Day we first receive in Good Order at our Service Center the death benefit payment option and due proof of death, unless the spouse of the deceased continues the Contract. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| * | GMIB Partial Annuitizations are based on the GMIB value and are not available until the fifth Contract Anniversary and they are not available if the GMIB value is less than the Contract Value. |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| · | the Accumulation Phase ends, |
|--------|------------------------------|

| · | the Annuity Phase, if any, ends and/or |
|--------|----------------------------------------|

| · | all applicable death benefit payments have been made. |
|--------|-------------------------------------------------------|

| · | The withdrawal charge schedule. |
|--------|---------------------------------|

| · | Availability of Investment Options, Annuity Options, DCA programs, endorsements, and/or riders. |
|--------|-------------------------------------------------------------------------------------------------|

| · | Selection of certain Income Dates. |
|--------|------------------------------------|

| · | Selection of certain assumed investment rates for variable Annuity Payments. |
|--------|------------------------------------------------------------------------------|

| · | Our ability to restrict transfer rights. |
|--------|------------------------------------------|

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| 2. | PURCHASE |
|----|----------|

| · | You can make additional Purchase Payments of $50 or more during the Accumulation Phase. |
|--------|-----------------------------------------------------------------------------------------|

| · | You cannot make any additional Purchase Payments to the Contract after the Income Date that you take a Full Annuitization (including a required Full Annuitization on the maximum permitted Income Date). In certain states, additional Purchase Payments can only be made during the first Contract Year or may be otherwise restricted. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The maximum total amount we accept without our prior approval is $1 million (including amounts already invested in other Allianz Life variable annuities). |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | If you purchased this Contract as an Inherited IRA, the death benefit proceeds of the previous tax-qualified investment were directly transferred into this Contract (see section 9, Access to Your Money – The Minimum Distribution Program and Required Minimum Distribution (RMD) Payments). A beneficiary can apply the death benefit proceeds from multiple tax-qualified investments that were owned by the same owner to the purchase of an Inherited IRA Contract. We do not accept any other forms of Purchase Payment on an Inherited IRA Contract. The death benefit proceeds cannot be received by the beneficiary and then applied to an Inherited IRA Contract. For more information on Inherited IRA Contracts, see section 8, Taxes – Qualified Contracts – Inherited IRA. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| · | you might have to pay a withdrawal charge on your previous contract, |
|--------|----------------------------------------------------------------------|

| · | there is a new withdrawal charge period for this Contract, |
|--------|------------------------------------------------------------|

| · | other charges under this Contract may be higher (or lower), |
|--------|-------------------------------------------------------------|

| · | the benefits may be different, and |
|--------|------------------------------------|

| · | you no longer have access to any benefits from your previous contract. |
|--------|------------------------------------------------------------------------|

| · | Adding declared distributions (daily interest, dividends, long term gains and short term gains) for an Investment Option to its net asset value (NAV). |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | That result is then divided by the NAV the end of the prior business day to determine the overall daily performance in the Investment Option. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------|

| · | That calculation is then multiplied by one minus the current Business Day’s mortality and expense risk charge and any additional calendar days since the prior Business Day. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| · | On Wednesday, we receive at our Service Center an additional Purchase Payment of $3,000 from you before the end of the Business Day. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------|

| · | When the New York Stock Exchange closes on that Wednesday, we determine that the value of an Accumulation Unit for the Investment Option you chose is $13.25. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | THE ANNUITY PHASE |
|----|-------------------|

| * | GMIB Partial Annuitizations are based on the GMIB value and are not available until the fifth Contract Anniversary and they are not available if the GMIB value is less than the Contract Value. |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | a variable payout, |
|--------|--------------------|

| · | a fixed payout, or |
|--------|--------------------|

| · | a combination of both. |
|--------|------------------------|

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| · | The Contract Value (adjusted for any applicable MVA) on the Income Date. |
|--------|--------------------------------------------------------------------------|

| · | The age of the Annuitant and any joint Annuitant on the Income Date. |
|--------|----------------------------------------------------------------------|

| · | The gender of the Annuitant and any joint Annuitant, where permitted. |
|--------|-----------------------------------------------------------------------|

| · | The Annuity Option you select. |
|--------|--------------------------------|

| · | The assumed investment rate (AIR) you select. |
|--------|-----------------------------------------------|

| · | Your Contract’s mortality table. |
|--------|----------------------------------------|

| · | The future performance of the Investment Option(s) you select. |
|--------|----------------------------------------------------------------|

| · | Under Annuity Options 1 and 3, the death of the last surviving Annuitant. |
|--------|---------------------------------------------------------------------------|

| · | Under Annuity Options 2 and 4, the death of the last surviving Annuitant and expiration of the guaranteed period. If we make a lump sum payment of the remaining guaranteed Traditional Annuity Payments at the death of the last surviving Annuitant, this portion of the Contract ends upon payment of the lump sum. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Under Annuity Option 5, the death of the Annuitant and payment of any lump sum refund. |
|--------|----------------------------------------------------------------------------------------|

| · | Under Annuity Option 6, the expiration of the specified period certain. |
|--------|-------------------------------------------------------------------------|

| · | When the Contract ends. |
|--------|-------------------------|

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| · | Your Income Date must be within 30 days following a Contract Anniversary beginning with the fifth Contract Anniversary. |
|--------|-------------------------------------------------------------------------------------------------------------------------|

| · | GMIB Payments can only be made as fixed payments regardless of the Annuity Option you select. |
|--------|-----------------------------------------------------------------------------------------------|

| · | You must select a lifetime income Annuity Option (Annuity Options 1-5). |
|--------|-------------------------------------------------------------------------|

| · | The Accumulation Phase ends and the Annuity Phase begins. |
|--------|-----------------------------------------------------------|

| · | The portion of the Contract that you apply to the GMIB is no longer subject to the M&E charge, but any portion of the Contract that has been applied to variable Traditional Annuity Payments continues to be subject to a 1.25% M&E charge for the February 2007 Contract and the Original Contract issued on or after June 22, 2007. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The GMDB endorsement ends. |
|--------|----------------------------|

| · | The Annuity Phase begins and the Accumulation Phase continues. |
|--------|----------------------------------------------------------------|

| · | The portion of the Contract that you apply to the GMIB is no longer subject to the M&E charge, but any portion of the Contract that is in the Accumulation Phase or that has been applied to variable Traditional Annuity Payments continues to be subject to the appropriate M&E charge. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | If any portion of the Contract is still in the Accumulation Phase, you may be able to make additional Purchase Payments to the Contract, but you cannot make additional Purchase Payments to any portion of the Contract that is in the Annuity Phase. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The Partial Annuitization reduces each Purchase Payment, the Contract Value and GMDB value proportionately by the percentage of GMIB value you apply to the GMIB. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | GMIB Payments do not affect the Contract Value available under the portion of the Contract that is in the Accumulation Phase. |
|--------|-------------------------------------------------------------------------------------------------------------------------------|

| * | Not available if the GMIB value is less than the Contract Value. |
|---|------------------------------------------------------------------|

| · | Transfer any amounts you allocated to GMIB Payments back to the portion of the Contract that is in the Accumulation Phase. |
|--------|----------------------------------------------------------------------------------------------------------------------------|

| · | Transfer amounts from one Annuity Payment stream to another. |
|--------|--------------------------------------------------------------|

| · | Allocate additional GMIB value (or Contract Value) to an existing stream of Annuity Payments. |
|--------|-----------------------------------------------------------------------------------------------|

| · | Under Annuity Options 1 and 3, the death of the last surviving Annuitant. |
|--------|---------------------------------------------------------------------------|

| · | Under Annuity Options 2 and 4, the death of the last surviving Annuitant and expiration of the guaranteed period.* |
|--------|--------------------------------------------------------------------------------------------------------------------|

| · | Under Annuity Option 5, the death of the Annuitant and payment of any lump sum refund. |
|--------|----------------------------------------------------------------------------------------|

| · | When the Contract ends. |
|--------|-------------------------|

| * | If we make a lump sum payment of the remaining guaranteed GMIB Payments at the death of the last surviving Annuitant, this portion of the Contract ends upon payment of the lump sum. |
|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| · | total Purchase Payments received minus each GMIB adjusted partial withdrawal taken, or |
|--------|----------------------------------------------------------------------------------------|

| · | the MAV. |
|--------|----------|

| · | its value on the immediately preceding Business Day, |
|--------|------------------------------------------------------|

| · | plus any additional Purchase Payments received that day, and |
|--------|--------------------------------------------------------------|

| · | reduced by any GMIB adjusted partial withdrawal taken that day. |
|--------|-----------------------------------------------------------------|

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| 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. |

----

----

|   | (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. |
|--------|-----|---|-----------------------------------------------------------------------------|

| · | The Contract has one Owner who is a 65-year-old male. He selects variable Annuity Payments under Annuity Option 5 based on a Contract Value of $100,000 (item “B”). |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The Owner who is also the Annuitant allocates all the Contract Value to one Investment Option, so the allocation percentage in this subaccount is 100% (item “C”). |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The purchase rate for the selected assumed investment rate is $6.15 per month per thousand dollars of Contract Value annuitized. Therefore, the first variable Annuity Payment is:  $6.15 x ($100,000 / $1,000) = $615 (item “E”). |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Assume the Annuity Unit value on the Income Date is $12, then the number of Annuity Units used in determining each Annuity Payment is:  $615 / $12 = 51.25 (item “D”). |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The Owner who is also the Annuitant dies after receiving 62 Annuity Payments (item “F”) and the Annuity Unit value for the subaccount on the date the Service Center receives due proof of death is $10 (item “A”). |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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----

| 4. | INVESTMENT OPTIONS |
|----|--------------------|

----

|   | INVESTMENT OPTIONS |
|--------|--------------------|

| Investment Management CompanyandAdviser/Subadviser                                | Name of Investment Option               | Asset Category                                | Objective(s)                                                                                                                             | Primary Investments(Normal market conditions)                                                                                                                                                                                                                                                                                                                                                                                                                              |
|-----------------------------------------------------------------------------------|-----------------------------------------|-----------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ALLIANZ FUND OF FUNDS                                                             |
| Managed by Allianz Investment Management LLC                                      | AZL Balanced Index Strategy Fund        | A “Fund of Funds” Model Portfolio | Long-term capital appreciation with preservation of capital as an important consideration                                                | Invests primarily in a combination of five underlying bond and equity index funds, to achieve a range generally from 40% to 60% of assets in the underlying equity index funds and 40% to 60% in the underlying bond index fund.                                                                                                                                                                                                                                           |
|                                                                              | AZL Growth Index Strategy Fund          | A “Fund of Funds” Model Portfolio | Long-term capital appreciation                                                                                                           | Invests primarily in a combination of five underlying bond and equity index funds, to achieve a range generally from 65% to 85% of assets in the underlying equity index funds and 15% to 35% in the underlying bond index fund.                                                                                                                                                                                                                                           |
|                                                                              | AZL MVP Fusion Balanced Fund            | A “Fund of Funds” Model Portfolio | Long-term capital appreciation with preservation of capital as an important consideration                                                | Allocation among the underlying investments, to achieve a range generally from 40% to 60% of assets in equity funds and approximately 40% to 60% invested in fixed income funds, combined with the MVP (Managed Volatility Portfolio) risk management process intended to adjust the risk of the portfolio based on quantitative indicators of market risk. May include allocation of the Fund’s assets in a combination of derivative and fixed income instruments. |
|                                                                              | AZL MVP Fusion Growth Fund              | A “Fund of Funds” Model Portfolio | Long-term capital appreciation                                                                                                           | Allocation among the underlying investments, to achieve a range generally from 70% to 90% of assets in equity funds and approximately 10% to 30% invested in fixed income funds, combined with the MVP (Managed Volatility Portfolio) risk management process intended to adjust the risk of the portfolio based on quantitative indicators of market risk. May include allocation of the Fund’s assets in a combination of derivative and fixed income instruments. |
|                                                                              | AZL MVP Fusion Moderate Fund            | A “Fund of Funds” Model Portfolio | Long-term capital appreciation                                                                                                           | Allocation among the underlying investments, to achieve a range generally from 55% to 75% of assets in equity funds and approximately 25% to 45% invested in fixed income funds, combined with the MVP (Managed Volatility Portfolio) risk management process intended to adjust the risk of the portfolio based on quantitative indicators of market risk. May include allocation of the Fund’s assets in a combination of derivative and fixed income instruments. |
| BLACKROCK                                                                         |
| Managed by Allianz Investment Management LLC/BlackRock Capital Management, Inc.   | AZL BlackRock Capital Appreciation Fund | Large Growth                                  | Long-term growth of capital                                                                                                              | Invests at least 65% of total assets in common and preferred stock and securities convertible into common and preferred stock of mid-size and large-size companies.                                                                                                                                                                                                                                                                                                        |
| Managed by Allianz Investment Management LLC/BlackRock Investment Management, LLC | AZL International Index Fund            | International                                 | Match the performance of the MSCI EAFE® Index as closely as possible                                                                | Invests at least 80% of its assets in a statistically selected sampling of equity securities of companies included in the Morgan Stanley Capital International Europe, Australasia and Far East Index (MSCI EAFE) and in derivative instruments linked to the MSCI EAFE Index.                                                                                                                                                                                             |
|                                                                              | AZL Mid Cap Index Fund                  | Mid Cap                                       | Match the performance of the Standard & Poor’s MidCap 400® Index (“S&P 400 Index”) as closely as possible | Invests at least 80% of the value of its net assets in a statistically selected sampling of equity securities of companies included in the S&P 400 Index and in derivative instruments linked to the S&P 400 Index, primarily futures contracts.                                                                                                                                                                                                              |

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| Investment Management CompanyandAdviser/Subadviser                                                          | Name of Investment Option                                         | Asset Category  | Objective(s)                                              | Primary Investments(Normal market conditions)                                                                                                                                                                                                                                                                                                                                   |
|-------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------|-----------------|-----------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Managed by Allianz Investment Management LLC/BlackRock Advisors, LLC                                        | AZL Money Market Fund                                             | Cash Equivalent | Current income consistent with stability of principal     | Invests in a broad range of short-term, high quality U.S. dollar-denominated money market instruments, including government, U.S. and foreign bank, commercial and other obligations. During extended periods of low interest rates, and due in part to contract fees and expenses, the yield of the AZL Money Market Fund may also become extremely low and possibly negative. |
| Managed by Allianz Investment Management LLC/BlackRock Investment Management, LLC                           | AZL S&P 500 Index Fund                                        | Large Blend     | Match total return of the S&P 500®               | Normally invests in all 500 stocks in the S&P 500® in proportion to their weighting in the index.                                                                                                                                                                                                                                                                      |
|                                                                                                        | AZL Small Cap Stock Index Fund                                    | Small Cap       | Match performance of the S&P SmallCap 600 Index® | Invests at least 80% of its assets in investments of small capitalization companies, with market capitalizations at the time of purchase, included in the S&P SmallCap 600 Index.                                                                                                                                                                                           |
| Managed by BlackRock Advisors, LLC/BlackRock Investment Management, LLC and BlackRock International Limited | BlackRock Global Allocation V.I. Fund                             | Specialty       | High total investment return                              | Invests in both equity and debt securities, including money market securities, of issuers located around the world. Seeks diversification across markets, industries, and issuers. May invest in securities of companies of any market capitalization and in REITs.                                                                                                             |
| COLUMBIA                                                                                                    |
| Managed by Allianz Investment Management LLC/Columbia Management Investment Advisers, LLC                   | AZL Columbia Mid Cap Value Fund                                   | Mid Cap         | Long-term growth of capital                               | Invests at least 80% of net assets in equity securities of companies that have market capitalizations in the range of the companies in the Russell Midcap® Value Index at the time of purchase that the fund’s subadviser believes are undervalued and have the potential for long-term growth.                                                                      |
|                                                                                                        | AZL Columbia Small Cap Value Fund                                 | Small Cap       | Long-term capital appreciation                            | Invests at least 80% of net assets in equity securities of companies with market capitalizations in the range of the companies in the Russell 2000 Value Index® at the time of purchase that the subadviser believes are undervalued.                                                                                                                                      |
|                                                                                                        | Columbia Variable Portfolio – Select Smaller-Cap Value Fund | Small Cap       | Long-term capital growth                                  | At least 80% of net assets in equity securites of companies  with market capitalizations of up to $2 billion or within the range of the Russell 2000 Index at the time of purchase. May invest up to 25% in foreign investments.                                                                                                                                      |
| DAVIS                                                                                                       |
| Managed by Allianz Investment Management LLC/Davis Selected Advisers, L.P.                                  | AZL Davis New York Venture Fund                                   | Large Value     | Long-term growth of capital                               | Invests the majority of assets in equity securities issued by large companies with market capitalizations of at least $10 billion.                                                                                                                                                                                                                                         |
| Managed by Davis Selected Advisers, L.P.                                                                    | Davis VA Financial Portfolio                                      | Specialty       | Long-term growth of capital                               | At least 80% of net assets in securities issued by companies  principally engaged in the financial services sector.                                                                                                                                                                                                                                                   |
|                                                                                                        | Davis VA Value Portfolio                                          | Large Value     | Long-term growth of capital                               | Invests primarily in equity securities issued by large companies with market capitalizations of at least $10 billion.                                                                                                                                                                                                                                                           |
| DREYFUS                                                                                                     |
| Managed by Allianz Investment Management LLC/The Dreyfus Corporation                                        | AZL Dreyfus Research Growth Fund                                  | Large Growth    | Long-term growth of capital and income                    | Primarily invests in common stocks of large, well-established and mature companies. Normally invests at least 80% of its net assets in stocks that are included in a widely recognized index of stock market performance. May invest in non-dividend paying companies and up to 30% of its total assets in foreign securities.                                                  |
| FEDERATED                                                                                                   |
| Managed by Allianz Investment Management LLC/Federated Global Investment Management Corp.                   | AZL Federated Clover Small Value Fund                             | Small Cap       | Capital Appreciatiion                                     | Under normal market conditions, invests at least 80% of its net assets in common stocks and other equity securities of U.S. companies with small market capitalizations, at the time of purchase in the range of companies included in the Russell 2000 Index.                                                                                                                  |

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| Investment Management CompanyandAdviser/Subadviser  | Name of Investment Option                             | Asset Category                 | Objective(s)                                                                                                        | Primary Investments(Normal market conditions)                                                                                                         |
|-----------------------------------------------------|-------------------------------------------------------|--------------------------------|---------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
| FRANKLIN TEMPLETON                                  |
| Managed by Franklin Templeton Institutional, LLC    | Franklin Global Real Estate Securities Fund           | Specialty                      | High Total Return                                                                                                   | At least 80% of net assets in investments of companies located anywhere in the world that operate in the real estate sector.                          |
| Managed by Franklin Advisers, Inc.                  | Franklin Growth and Income Securities Fund            | Large Value                    | Capital appreciation, with current income as a secondary goal                                                       | Invests predominantly in equity securities, including securities convertible into common stock.                                                       |
|                                                | Franklin High Income Securities Fund                  | High-Yield Bonds               | High current income with capital appreciation as a secondary goal                                                   | Invests primarily to predominantly in high yield, lower-rated debt securities (“junk bonds”) and preferred stocks.                        |
|                                                | Franklin Income Securities Fund                       | Specialty                      | Maximize income while maintaining prospects for capital appreciation                                                | Normally invests in debt and equity securities.                                                                                                       |
|                                                | Franklin Large Cap Growth Securities Fund             | Large Growth                   | Capital appreciation                                                                                                | At least 80% of net assets in investments of large capitalization companies.                                                                          |
| Managed by Franklin Advisory Services, LLC          | Franklin Rising Dividends Securities Fund             | Mid Cap                        | Long-term capital appreciation with preservation of capital as an important consideration                           | At least 80% of net assets in equity securities of companies that have paid rising dividends.                                                         |
| Managed by Franklin  Advisers, Inc.  | Franklin Small–Mid Cap Growth Securities Fund   | Mid Cap                        | Long-term capital growth                                                                                            | At least 80% of net assets in investments of small capitalization and mid capitalization companies.                                                   |
| Managed by Franklin Advisory Services, LLC          | Franklin Small Cap Value Securities Fund              | Small Cap                      | Long term total return                                                                                              | At least 80% of net assets in investments of small capitalization companies.                                                                          |
| Administered by Franklin Templeton Services, LLC    | Franklin Templeton VIP Founding Funds Allocation Fund | Model Portfolio(Fund of Funds) | Capital appreciation with income as a secondary goal.                                                               | Invests equal portions in Class 1 shares of the Franklin Income Securities Fund, Mutual Shares Securities Fund, and Templeton Growth Securities Fund. |
| Managed by Franklin Advisers, Inc.                  | Franklin U.S. Government Fund                         | Intermediate-Term Bonds        | Income                                                                                                              | At least 80% of its net assets in U.S. government securities.                                                                                         |
| Managed by Franklin Mutual Advisers, LLC            | Mutual Shares Securities Fund                         | Large Value                    | Capital appreciation, with income as a secondary goal                                                               | Invests primarily in U.S. and foreign equity securities that the manager believes are undervalued.                                                    |
| Managed by Templeton Investment Counsel, LLC        | Templeton Foreign Securities Fund                     | International Equity           | Long-term capital growth                                                                                            | Normally invests at least 80% of net assets in investments of issuers located outside the U.S., including those in emerging markets.                  |
| Managed by Franklin Advisers, Inc.                  | Templeton Global Bond Securities Fund                 | Intermediate-Term Bonds        | High current income, consisent with preservation of capital, with capital appreciation as a secondary consideration | Normally invests at least 80% of its net assets in bonds, which include debt securities of any maturity, such as bonds, notes, bills and debentures.  |
| Managed by Templeton Global Advisors Limited        | Templeton Growth Securities Fund                      | International Equity           | Long-term capital growth                                                                                            | Normally invests primarily in equity securities of companies located anywhere in the world, including emerging markets.                               |

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| Investment Management CompanyandAdviser/Subadviser                                      | Name of Investment Option                     | Asset Category       | Objective(s)                                                                                                    | Primary Investments(Normal market conditions)                                                                                                                                                                                                                                                                                                                 |
|-----------------------------------------------------------------------------------------|-----------------------------------------------|----------------------|-----------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| INVESCO                                                                                 |
| Managed by Allianz Investment Management LLC/Invesco Advisers, Inc.                     | AZL Invesco Equity and Income Fund            | Specialty            | Highest possible income consistent with safety of principal. Secondary objective of long-term growth of capital | Invests at least 80% of its net assets in equity and income securities. Invests at least 65% of its total assets in income-producing equity securities and also invests in investment grade quality debt securities. May invest up to 15% of total assets in REITs and up to 25% ot total assets in foreign securities, including emerging market securities. |
|                                                                                    | AZL Invesco Growth and Income Fund            | Large Value          | Income and long-term growth of capital                                                                          | Invests primarily in income-producing equity securities, including common stocks and convertible securities. May invest up to 25% of total assets in foreign securities, including emerging markets.                                                                                                                                                          |
|                                                                                    | AZL Invesco International Equity Fund         | International        | Long-term growth of capital                                                                                     | At least 80% of its assets in a diversified portfolio of equity securities of foreign issuers that are considered by the fund’s subadviser to have strong earnings growth.                                                                                                                                                                              |
| J.P. MORGAN                                                                             |
| Managed by Allianz Investment Management LLC/J.P. Morgan Investment Management, Inc.    | AZL JPMorgan International Opportunities Fund | International        | Long term capital appreciation                                                                                  | Invests at least 80% of assets in a diversified portfolio of equity securities of issuers primarily from developed countries other than the U.S.                                                                                                                                                                                                              |
|                                                                                    | AZL JPMorgan U.S. Equity Fund                 | Large Blend          | High total return                                                                                               | Invests at least 80% of its net assets, plus any borrowings for investment purposes, primarily in equity securities of large- and medium-capitalization U.S. companies.                                                                                                                                                                                       |
| MFS                                                                                     |
| Managed by Allianz Investment Management LLC/Massachusetts Financial Services Company   | AZL MFS Investors Trust Fund                  | Large Blend          | Capital appreciation                                                                                            | Invests primarily in equity securities of companies with large capitalizations that the subadviser believes has above average earnings growth potential, are undervalued, or in a combination of growth and value companies.                                                                                                                                  |
|                                                                                    | AZL MFS Value Fund                            | Large Value          | Capital appreciation                                                                                            | The fund seeks capital appreciation and normally invests the Fund’s assets primarily in equity securities. MFS focuses on investing the Fund’s assets in the stocks of companies it believes are undervalued compared to their perceived worth.                                                                                                   |
| MORGAN STANLEY                                                                          |
| Managed by Allianz Investment Management LLC/Morgan Stanley Investment Management, Inc. | AZL Morgan Stanley Global Real Estate Fund    | Specialty            | Income and capital appreciation                                                                                 | Invests at least 80% of assets in equity securities of companies in the real estate industry located throughout the world, including real estate investment trusts and real estate operating companies established outside the U.S.                                                                                                                           |
|                                                                                    | AZL Morgan Stanley Mid Cap Growth Fund        | Mid Cap              | Capital growth                                                                                                  | At least 80% of net assets in common stocks and other equity securities of mid capitalization growth companies, with market capitalizations within the range of the Russell Midcap Growth Index.                                                                                                                                                              |
| OPPENHEIMERFUNDS                                                                        |
| Managed by Allianz Investment Management LLC/OppenheimerFunds, Inc.                     | AZL Oppenheimer Discovery Fund                | Small Cap            | Capital appreciation                                                                                            | Under normal market conditions, invests at least 80% of its net assets in common stocks and other equity securities of U.S. companies with small market capitalizations, at the time of purchase in the range of companies included in the Russell 2000 Growth Index and that the subadviser believes to have favorable growth prospects.                     |
| Managed by OppenheimerFunds, Inc.                                                       | Oppenheimer Global Fund/VA                    | International Equity | Long-term capital appreciation                                                                                  | Invests mainly in common stocks of U.S. and foreign issuers, currently with an emphasis in developed markets.                                                                                                                                                                                                                                                 |
|                                                                                    | Oppenheimer Global Strategic Income Fund/VA   | High-Yield Bonds     | Total return                                                                                                    | Invests in a variety of high-yield debt securities of domestic and foreign issuers with at least 65% of total assets in high-yield, lower-grade fixed income securities commonly known as “junk” bonds.                                                                                                                                           |

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| Investment Management CompanyandAdviser/Subadviser   | Name of Investment Option                              | Asset Category           | Objective(s)                                                                                        | Primary Investments(Normal market conditions)                                                                                                                                                                                                                                                                      |
|------------------------------------------------------|--------------------------------------------------------|--------------------------|-----------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                 | Oppenheimer Main Street Fund®/VA                  | Large Blend              | High total return                                                                                   | Invests mainly in common stocks of U.S. companies of different capitalization ranges, presently focusing on large-capitalization issuers.                                                                                                                                                                          |
| PIMCO                                                |
| Managed by Pacific Investment Management Company LLC | PIMCO EqS Pathfinder Portfolio                         | International Equity     | Capital appreciation                                                                                | Normally invests in equity securities, including common and preferred stock, of issuers that PIMCO believes are undervalued by the market in comparison to PIMCO’s own determination of the company’s value. May invest in securities and instruments that are economically tied to foreign countries. |
|                                                 | PIMCO VIT All Asset Portfolio                          | Specialty(Fund of Funds) | Maximum real return consistent with preservation of real capital and prudent investment management  | Invests substantially all of its assets in institutional class shares of the underlying PIMCO Funds.                                                                                                                                                                                                               |
|                                                 | PIMCO VIT CommodityRealReturn® Strategy Portfolio | Specialty                | Maximum real return consistent with prudent investment management                                   | Invests in commodity linked derivative instruments backed by a portfolio of inflation-indexed securities and other fixed income securities.                                                                                                                                                                        |
|                                                 | PIMCO VIT Emerging Markets Bond Portfolio              | Intermediate-Term Bonds  | Maximum total return, consistent with preservation of capital and prudent investment management     | At least 80% of its assets in fixed income instruments of issuers that economically are tied to emerging markets countries.                                                                                                                                                                                        |
|                                                 | PIMCO VIT Global Bond Portfolio (Unhedged)             | Intermediate-Term Bonds  | Maximum total return, consistent with preservation of capital and prudent investment management     | At least 80% of its assets in fixed income instruments of issuers in at least three countries (one of which may be the U.S.), which may be represented by forwards or derivatives. May invest, without limitation, in securities economically tied to emerging market countries.                                   |
|                                                 | PIMCO VIT High Yield Portfolio                         | High-Yield Bonds         | Maximum total return, consistent with preservation of capital and prudent investment management     | At least 80% of assets in a diversified portfolio of high-yield securities (“junk bonds”) rated below investment grade, but at least Caa by Moody’s or equivalently rated by S&P or Fitch. May invest up to 20% of total asets in securities denominated in foreign currencies.              |
|                                                 | PIMCO VIT Real Return Portfolio                   | Intermediate-Term Bonds  | Maximum real return, consistent with preservation of real capital and prudent investment management | At least 80% of its net assets in inflation-indexed bonds of varying maturities issued by the U.S. and non-U.S. governments, their agencies or instrumentalities and corporations.                                                                                                                                 |
|                                                 | PIMCO VIT Total Return Portfolio                       | Intermediate-Term Bonds  | Maximum total return, consistent with preservation of capital and prudent investment management     | At least 65% of total assets in a diversified portfolio of fixed income instruments of varying maturities, which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements.                                                                                             |

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| Investment Management CompanyandAdviser/Subadviser                                                                                 | Name of Investment Option                 | Asset Category       | Objective(s)                | Primary Investments(Normal market conditions)                                                                                                                                                                                             |
|------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------|----------------------|-----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| PRUDENTIAL                                                                                                                         |
| Managed by Prudential Investments LLC/Jennison Associates LLC                                                                      | Jennison Portfolio                        | Large Growth         | Long-term growth of capital | At least 65% of total assets in equity and equity-related securities of U.S. companies that the adviser believes to have above average growth prospects.                                                                                  |
| Managed by Prudential Investments LLC/ Jennison Associates LLC, William Blair & Company LLC and Marsico Capital Management LLC | SP International Growth Portfolio         | International Equity | Long-term growth of capital | Invests primarily in equity-related securities of foreign issuers with at least 65% of its total assets in common stocks of foreign companies operating or based in at least five different countries.                                    |
| SCHRODER                                                                                                                           |
| Managed by Allianz Investment Management LLC/Schroder Investment Management North America Inc.                                     | AZL Schroder Emerging Markets Equity Fund | Specialty            | Capital appreciation        | Invests at least 80% of its net assets in equity securities of companies that the subadviser believes to be “emerging market” issuers. May invest remainder of assets in securities of issuers located anywhere in the world. |

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| · | Your request for a transfer must clearly state: |
|--------|-------------------------------------------------|

| – | which Investment Choices are involved in the transfer; and |
|---------|------------------------------------------------------------|

| – | how much you wish to transfer. |
|---------|--------------------------------|

| · | Transfers from a FPA may be subject to an MVA. |
|--------|------------------------------------------------|

| · | If your Contract includes the Living Guarantees, you can make transfers from the FPAs to the extent that the GAV Fixed Account Minimum is met (see section 6, Guaranteed Account Value (GAV) Benefit – The GAV Fixed Account Minimum). These transfers may be subject to an MVA unless the transfers are made within 30 days before the end of the Account Period. In some states you cannot make allocations to the FPAs and they may only be available for GAV Transfers we make. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | After the Income Date, you cannot make a transfer from a fixed Annuity Payment stream to a variable Annuity Payment stream. |
|--------|-----------------------------------------------------------------------------------------------------------------------------|

| · | After the Income Date, you can make a transfer from a variable Annuity Payment stream to establish a new fixed Annuity Payment stream. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------|

| · | Your right to make transfers is subject to the Excessive Trading and Market Timing policy discussed later in this section. |
|--------|----------------------------------------------------------------------------------------------------------------------------|

| · | Transfer instructions apply equally to the accumulation and annuitization portions of the Contract. You cannot make transfers selectively within different portions of the Contract. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Transfers of Contract Value between Investment Options do not change the allocation instructions for any future Purchase Payments. |
|--------|------------------------------------------------------------------------------------------------------------------------------------|

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| · | Dilution of the interests of long-term investors in an Investment Option, if market timers or others transfer into an Investment Option at prices that are below their true value, or transfer out at prices above their true value. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | An adverse effect on portfolio management, such as causing an Investment Option to maintain a higher level of cash or causing an Investment Option to liquidate investments prematurely. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Increased brokerage and administrative expenses. |
|--------|--------------------------------------------------|

| · | Limit transfer frequency (for example, prohibit more than one transfer a week, or more than two a month, etc.). |
|--------|-----------------------------------------------------------------------------------------------------------------|

| · | Restrict the transfer method (for example, requiring all transfers be sent by first-class U.S. mail and rescinding electronic transfer privileges). |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Require a minimum time period between each transfer into or out of the same Investment Option. Our current policy, which is subject to change without notice, prohibits “round trips” within 14 calendar days. We do not include transfers into and/or out of the AZL Money Market Fund when available in your Contract. Round trips are transfers into and back out of the same Investment Option, or transfers out of and back into the same Investment Option. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Refuse transfer requests made on your behalf by an asset allocation and/or market timing service. |
|--------|---------------------------------------------------------------------------------------------------|

| · | Limit the dollar amount of any single Purchase Payment or transfer request to an Investment Option. |
|--------|-----------------------------------------------------------------------------------------------------|

| · | Prohibit transfers into specific Investment Options. |
|--------|------------------------------------------------------|

| · | Impose other limitations or restrictions to the extent permitted by federal securities laws. |
|--------|----------------------------------------------------------------------------------------------|

| · | Our monitoring will be 100% successful in detecting all potentially disruptive trading activity. |
|--------|--------------------------------------------------------------------------------------------------|

| · | Revoking electronic transfer privileges will successfully deter all potentially disruptive trading. |
|--------|-----------------------------------------------------------------------------------------------------|

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----

| · | The number of desired transfers has been made. |
|--------|------------------------------------------------|

| · | You do not have enough money in the Investment Options to make the transfer (if less money is available, that amount is dollar cost averaged and the program ends). |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | You request to end the program (your request must be received at our Service Center by 4:00 p.m. Eastern Time on the Business Day immediately before the tenth to end that month). |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | your Contract ends. |
|--------|---------------------|

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| · | You can provide voting instructions based on the dollar value of the Investment Option’s shares in your Contract’s subaccount. We calculate this value based on the number and value of accumulation/annuity units for your Contract on the record date. We count fractional units. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | You receive proxy materials and a voting instruction form. |
|--------|------------------------------------------------------------|

| 5. | OUR GENERAL ACCOUNT |
|----|---------------------|

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| Contract Year | FPA Account Period |   | Contract Year | FPA Account Period |   | Contract Year | FPA Account Period |
|---------------|--------------------|--------|---------------|--------------------|--------|---------------|--------------------|
| 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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| If the interest rate on the FPA from which amounts are being removed is…                 | then theMVA is… |
|------------------------------------------------------------------------------------------------|-----------------------|
| Less than the current interest rate for newallocations to an FPA of the same Account Period    | negative              |
| Equal to the current interest rate for newallocations to an FPA of the same Account Period     | zero                  |
| Greater than the current interest rate for newallocations to an FPA of the same Account Period | positive              |

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|                                                                                                                                                |
|-----------------------------------------------------------------------------------------------------------------------------------------------------|
| The MVA formula is [(1 + I) / (1 + J)]N where:                                                                                                      |
| I                                                                                                                                                   | = | Current interest rate earned in the FPA from which amounts are being transferred or withdrawn. |
| J                                                                                                                                                   | = | 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                                                                                                                                                   | = | 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. |
|                                                                                                                                                |
| The MVA is also subject to a minimum and a maximum. The minimum and maximum apply upon partial withdrawal/transfer or complete withdrawal/transfer. |
|                                                                                                                                                |
| The MVA minimum is equal to the greater of (a) or (b), with the result then divided by (c), where:                                                  |
|                                                                                                                                                | (a) | = | The FPA guaranteed minimum value. |
|                                                                                                                                                | (b) | = | All allocations to the FPAs less previous partial withdrawals (including any withdrawal charges) and transfers from the FPAs. |
|                                                                                                                                                | (c) | = | The Fixed Account Value. |
|                                                                                                                                                |   |   |   |
| The MVA maximum is equal to (a) divided by the greater of (b) or (c), where:                                                                        |
|                                                                                                                                                | (a) | = | The Fixed Account Value. |
|                                                                                                                                                | (b) | = | The FPA guaranteed minimum value |
|                                                                                                                                                | (c) | = | All allocations to the FPAs, less previous partial withdrawals (including any withdrawal charges) and transfers from the FPAs. |
|                                                                                                                                                |   |   |

| · | 87.5% of all allocations to the FPAs, less all partial withdrawals (including any withdrawal charges) and transfers from the FPAs, accumulated at the FPA guaranteed minimum value interest rate (which is also the state nonforfeiture rate) specified in the Contract (which is currently 1%-3% depending on your state). |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 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). |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | You purchased a February 2007 Contract with an initial Purchase Payment of $100,000 on January 1. You did not select the Living Guarantees. The FPA guaranteed minimum value interest rate is 3%. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | You allocate $10,000 to an FPA with a ten-year Account Period and an interest rate of 6%. |
|--------|-------------------------------------------------------------------------------------------|

| · | You make no additional Purchase Payments. |
|--------|-------------------------------------------|

| · | On July 1 of your sixth Contract Year, your Fixed Account Value in the FPA is $13,774.58. The sixth Contract Year is not a leap year. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------|

| · | The withdrawal charge period for your initial Purchase Payment has not expired by the sixth Contract Year, so there will be a withdrawal charge of 4% on Purchase Payments withdrawn from the Contract during the sixth Contract Year. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The Contract Value on the day of (but before) the withdrawal in the sixth Contract Year is $137,745.77. |
|--------|---------------------------------------------------------------------------------------------------------|

----

| 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) = ……………………………………………………………………… | $10,293.43 |
| Plus                                                                               |                                                                                                 |
|                                                                               | 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 = ………………………………………………..... | + 400.00 |
|                                                                               |                                                                                                 |   | $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 |

----

| 6. | GUARANTEED ACCOUNT VALUE (GAV) BENEFIT |
|----|----------------------------------------|

----

| On the first Contract Anniversary, the GAV is equal to the greater of A or B, where:                                                                                   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                   | 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 on the first Contract Anniversary. |
| On the second and any subsequent Contract Anniversaries, the GAV is equal to the greater of C or D, where:                                                             |
|                                                                                                                                                                   | 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 on that Contract Anniversary. |
| For each withdrawal or traditional Partial Annuitization taken before the second Contract Anniversary, a GAV adjusted partial withdrawal is equal to: a x b            |
| For each withdrawal or traditional Partial Annuitization taken on or after the second Contract Anniversary, a GAV adjusted partial withdrawal is equal to: c + (d x b) |

| For GMIB Partial Annuitizations, a GAV adjusted partial withdrawal is equal to: ………………………………….. | GMIBPA  x GAV1 |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------|
| GMIB                                                                                                                                                                          |

|   | (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.     |
|--------|---|---------------------------------------------------------------------------|
| GMIB   | = | The GMIB value on the day of (but before) the GMIB Partial Annuitization. |
| GAV1   | = | The GAV on the day of (but before) the GMIB Partial Annuitization.        |

----

| · | You purchased a February 2007 Contract and selected the Living Guarantees. You made only one initial Purchase Payment of $100,000. You make no additional Purchase Payments. Therefore, the calculations of the GAV that follows will not include reference to additional Purchase Payments. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | You take no partial withdrawals or Partial Annuitizations. Therefore, the calculations of the GAV that follows will only take into account the previous GAV and the current Contract Value on the Contract Anniversary. For information on how these calculations would be effected by a partial withdrawal, please see Appendix C. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The Contract Value on the first Contract Anniversary is $120,000; on the second Contract Anniversary it is $115,000; on the third Contract Anniversary it is $119,000; and on the fourth Contract Anniversary it is $121,000. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| The initial GAV…………………………………………………………………………………………………………………………... | $100,000                                                                                                                                                                 |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| The GAV on the first Contract Anniversary equals the greater of:  (A) the initial GAV, which is the initial Purchase                                                                                                                                                                                                                       |                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                 | Payment of $100,000; or (B) the Contract Value on the first Contract Anniversary, which is $120,000…………………                     | $120,000 |
| The GAV on the second Contract Anniversary equals the greater of:  (C) the GAV from the first Contract Anniversary                                                                                                                                                                                                                         |                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                 | ($120,000); or (D) the Contract Value on the second Contract Anniversary, which is $115,000…………………………        | $120,000 |
| The GAV on the third Contract Anniversary equals the greater of:  (C) the GAV from the second Contract Anniversary                                                                                                                                                                                                                         |                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                 | ($120,000); or (D) the Contract Value on the third Contract Anniversary, which is $119,000……………………………. | $120,000 |
| The GAV on the fourth Contract Anniversary equals the greater of:  (C) the GAV from the third Contract Anniversary                                                                                                                                                                                                                         |                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                 | ($120,000); or (D) the Contract Value on the third Contract Anniversary, which is $121,000……………………………. | $121,000 |

| · | On the fifth Contract Anniversary the Contract Value is $105,000. The initial GAV established five years ago is $100,000. The fifth anniversary Contract Value is greater than the initial GAV, so there is no True Up on the fifth Contract Anniversary. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | On the sixth Contract Anniversary the Contract Value is $108,000. The GAV established five years ago on the first Contract Anniversary is $120,000. The sixth anniversary Contract Value is less than the GAV from the first Contract Anniversary, so we will True Up the Contract Value to equal this amount by applying $12,000 to the Investment Options on the sixth Contract Anniversary. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | On the seventh Contract Anniversary the Contract Value is $122,000. The GAV from five years ago (the second Contract Anniversary) is $120,000. The seventh anniversary Contract Value is greater than the GAV established five years ago on the second Contract Anniversary so there is no True Up on the seventh Contract Anniversary. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                     | Contract Value | GAV      | Contract Value guaranteed under the GAV Benefit (does not apply until the 5th Contract Anniversary) | Amount of GAV True Up (does not apply until the 5th Contract Anniversary) | Contract Value after any GAVTrue Up |
|--------------------------|----------------|----------|-----------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------|-------------------------------------|
| Issue                    | $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 |

| · | additional Purchase Payments, |
|--------|-------------------------------|

| · | partial withdrawals, and |
|--------|--------------------------|

| · | Partial Annuitizations. |
|--------|-------------------------|

----

| · | GAV Transfers to the FPAs become more likely, and |
|--------|---------------------------------------------------|

| · | Contract Value relative to the GAV must increase in order for GAV Transfers from the FPAs to occur. |
|--------|-----------------------------------------------------------------------------------------------------|

----

| · | the last GAV calculated before the reset date, plus any additional Purchase Payments received on or after the last GAV calculation, and minus any GAV adjusted partial withdrawals taken on or after that calculation, or |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | your Contract Value. |
|--------|----------------------|

| · | the GAV established on the reset date, plus any additional Purchase Payments received on or after the reset date, and minus any GAV adjusted partial withdrawals taken on or after the reset date; or |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | your Contract Value. |
|--------|----------------------|

----

| · | The Income Date that you take a Full Annuitization, including a required Full Annuitization on the maximum permitted Income Date. For more information, see section 3, The Annuity Phase. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | When the Contract ends. |
|--------|-------------------------|

| 7. | EXPENSES |
|----|----------|

|             | M&E Charge                                                               |
|------------------|------------------------------------------------------------------------------|
|             | February 2007 Contract andOriginal Contract issued on or after June 22, 2007 | Original Contract issued before June 22, 2007 and May 2005 Contract |
| Traditional GMDB | 1.25%                                                                        | 1.40% |
| Enhanced GMDB    | 1.45%                                                                        | 1.60% |

| · | our contractual obligation to make Annuity Payments, |
|--------|------------------------------------------------------|

| · | the death benefits, income benefits, withdrawal benefits and Living Guarantees under the Contract, |
|--------|----------------------------------------------------------------------------------------------------|

| · | certain expenses related to the Contract, and |
|--------|-----------------------------------------------|

| · | for assuming the risk (expense risk) that the current charge is insufficient in the future to cover the cost of administering the Contract. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------|

----

| · | During the Accumulation Phase for all your High Five Contracts if the total Contract Value is at least $75,000 at the time we are to deduct the charge. We determine the total Contract Value for all individually owned Contracts by using the Owner’s social security number, and for non-individually owned Contracts we use the Annuitant’s social security number. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | During the Annuity Phase if the Contract Value on the Income Date is at least $750,000. |
|--------|-----------------------------------------------------------------------------------------|

| · | When paying death benefits under death benefit payment options A, B, or C. |
|--------|----------------------------------------------------------------------------|

----

| 1. | First, we withdraw any Purchase Payments that are beyond your Contract’s withdrawal charge period (for example, Purchase Payments that we have had for seven or more complete years). We do not assess a withdrawal charge on these Purchase Payments. This withdrawal reduces the Withdrawal Charge Basis. |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Then, we withdraw any Purchase Payments that are under the partial withdrawal privilege and we do not assess a withdrawal charge. However, the partial withdrawal privilege is not available if you are taking a full withdrawal. For more information, see section 9, Access to Your Money – Partial Withdrawal Privilege. This withdrawal does not reduce the Withdrawal Charge Basis. |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Next, on a FIFO basis, we withdraw Purchase Payments that are within the withdrawal charge period shown in your Contract. We do assess a withdrawal charge on these Purchase Payments, but we withdraw them on a FIFO basis, which may help reduce the total withdrawal charge you pay because the withdrawal charge declines over time. We determine your total withdrawal charge by multiplying each of these payments by the applicable withdrawal charge percentage and then totaling the charges. This withdrawal reduces the Withdrawal Charge Basis. |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | Finally, we withdraw any Contract earnings. We do not assess a withdrawal charge on Contract earnings. We consider any True Ups we make to your Contract Value under the GAV Benefit to be earnings. However, if the Contract Value at the time of a True Up is less than your net Purchase Payments (total Purchase Payments received less any prior payments withdrawn) some or all of the True Up may, in effect, be treated as a Purchase Payment when applying the withdrawal charge if the entire Contract Value is then withdrawn. For more information see section 6, Guaranteed Account Value (GAV) Benefit – Other Information on the GAV Benefit. This withdrawal does not reduce the Withdrawal Charge Basis. |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Number of Complete Years Since We Received Your Purchase Payment | Charge |
|------------------------------------------------------------------|--------|
| 0                                                                | 8%     |
| 1                                                                | 8%*    |
| 2                                                                | 7%     |
| 3                                                                | 6%     |
| 4                                                                | 5%     |
| 5                                                                | 4%     |
| 6                                                                | 3%     |
| 7 years or more                                                  | 0%     |

| * | 7.5% in Alabama, Oregon, Pennsylvania, Utah and Washington. |
|---|-------------------------------------------------------------|

----

| 1) | Purchase Payments that are beyond the withdrawal charge period. All payments are still within the withdrawal charge period so this does not apply. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------|

| 2) | Amounts available under the partial withdrawal privilege. You have not taken any other withdrawals this year so you can withdraw up to 12% of your total payments (or $12,000) without incurring a withdrawal charge. |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3) | Purchase Payments on a FIFO basis. The total amount we deduct from the first Purchase Payment is $30,000, which is subject to a 7% withdrawal charge, and you will receive $27,900. We determine this amount as follows: |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (amount withdrawn) x (1 – withdrawal charge) = the amount you receive, or: |
|--------|----------------------------------------------------------------------------------|

|   | $30,000 x 0.930 = $27,900. |
|--------|----------------------------|

|   | Next we determine how much we need to deduct from the second Purchase Payment. So far we have deducted $39,900 ($12,000 under the partial withdrawal privilege and $27,900 from the first Purchase Payment), so we would need to deduct $12,100 from the second Purchase Payment to get you the $52,000 you requested. The second Purchase Payment is subject to an 8% withdrawal charge. We calculate the total amount withdrawn and the withdrawal charge you pay on this amount as follows: |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (the amount you receive) ÷ (1 – withdrawal charge) = amount withdrawn, or: |
|--------|---------------------------------------------------------------------------------------|

|   | $12,100 ÷ 0.920 = $13,152 |
|--------|--------------------------------|

| 4) | Contract earnings. As we have already withdrawn your requested amount, this does not apply. |
|----|---------------------------------------------------------------------------------------------|

----

| 8. | TAXES |
|----|-------|

----

| · | Traditional Individual Retirement Annuity. Section 408 of the Code permits eligible individuals to maintain Individual Retirement Annuities (IRAs). IRA contributions are limited each year to the lesser of a dollar amount specified in the Code or 100% of the amount of earned income included in the Owner’s income. You cannot make contributions once the Owner reaches age 70½. Contributions may be tax deductible based on the Owner’s income. The limit on the amount contributed to an IRA does not apply to distributions from certain other types of qualified plans that are “rolled over” on a tax-deferred basis into an IRA. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Roth IRA. Section 408A of the Code permits certain eligible individuals to contribute to a Roth IRA. Contributions to a Roth IRA are limited each year to the lesser of a dollar amount specified in the Code or 100% of the amount of earned income included in the Owner’s income. Contributions are also limited or prohibited if the Owner’s income is above certain limits. Contributions must be made in cash or as a rollover or transfer from another Roth IRA. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Conversions to a Roth IRA from a Traditional IRA or other eligible qualified retirement plan are permitted regardless of an individual’s income. A conversion to a Roth IRA results in a taxable event, but not a 10% federal penalty tax for early withdrawal if certain qualifications are met (please consult your tax adviser for more details). |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Distributions from a Roth IRA generally are not subject to income tax if the Roth IRA has been held for five years (starting with the year in which the first contribution is made to any Roth IRA) and the Owner satisfies a triggering event such as attaining age 59½, death, disability or a first time homebuyer (subject to a $10,000 lifetime limit). |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Distribution before satisfying the five year period or triggering event requirement may subject the distribution to ordinary income tax and the 10% federal penalty tax for early withdrawal. Please be aware that each Roth IRA conversion has its own five year holding period requirement. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Inherited IRA. The Code permits beneficiaries of investments that were issued under certain tax-qualified pension or retirement plans to directly transfer the death benefit from that investment into a variable annuity contract (Inherited IRA Contract). Inherited IRA Contracts must satisfy the required minimum distribution rules that apply to a beneficiary. If you purchased this Contract as an Inherited IRA Contract, the beneficiary of the previous tax-qualified investment became the Owner of this Inherited IRA Contract. The ownership of the Contract also includes the name of the previous deceased owner. The purpose of the Inherited IRA Contract is to allow the Owner to change the investment vehicle to an annuity and receive required minimum distribution withdrawal payments instead of receiving a lump sum death benefit payment. The death benefit proceeds must be directly transferred into this Contract; they cannot be received by the beneficiary and then applied to the Contract. A beneficiary can apply the death benefit proceeds from multiple tax-qualified investments that were owned by the same owner to the purchase of an Inherited IRA Contract. We do not accept any other forms of Purchase Payment on an Inherited IRA Contract. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Simplified Employee Pension (SEP) IRA. Employers may establish Simplified Employee Pension (SEP) IRAs under Code Section 408(k) to provide IRA contributions on behalf of their employees. In addition to all of the general rules governing IRAs, such plans are subject to additional requirements and different contribution limits. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 1) | paid on or after you reach age 59½; |
|----|------------------------------------------|

| 2) | paid after you die; |
|----|---------------------|

| 3) | paid if you become totally disabled (as that term is defined in Section 72(m)(7) of the Code); |
|----|------------------------------------------------------------------------------------------------|

| 4) | paid in a series of substantially equal payments made annually (or more frequently) under a lifetime annuity; |
|----|---------------------------------------------------------------------------------------------------------------|

| 5) | paid as annuity payments under an immediate annuity; or |
|----|---------------------------------------------------------|

| 6) | that come from Purchase Payments made before August 14, 1982. |
|----|---------------------------------------------------------------|

----

| 1) | distributions made on or after the date you (or the Annuitant as applicable) reach age 59½; |
|----|--------------------------------------------------------------------------------------------------|

| 2) | distributions following your death or disability (or the Annuitant as applicable) (for this purpose disability is as defined in Section 72(m)(7) of the Code); |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3) | after separation from service, paid in a series of substantially equal payments made annually (or more frequently) under a lifetime annuity; |
|----|----------------------------------------------------------------------------------------------------------------------------------------------|

| 4) | distributions made to you to the extent such distributions do not exceed the amount allowed as a deduction under Code Section 213 for amounts paid during the tax year for medical care; |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5) | distributions made on account of an IRS levy upon the Qualified Contract; |
|----|---------------------------------------------------------------------------|

| 6) | distributions from an IRA for the purchase of medical insurance (as described in Section 213(d)(1)(D) of the Code) for you and your spouse and dependents if you have received unemployment compensation for at least 12 weeks (this exception no longer applies after you have been re-employed for at least 60 days); |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7) | distributions from an IRA made to you, to the extent such distributions do not exceed your qualified higher education expenses (as defined in Section 72(t)(7) of the Code) for the tax year; |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8) | distributions from an IRA which are qualified first-time homebuyer distributions (as defined in Section 72(t)(8) of the Code); |
|----|--------------------------------------------------------------------------------------------------------------------------------|

| 9) | distributions made to an alternate Payee pursuant to a qualified domestic relations order (does not apply to an IRA); and |
|----|---------------------------------------------------------------------------------------------------------------------------|

| 10) | a reservist called to active duty during the period between September 11, 2001 and December 31, 2007, for a period in excess of 179 days (or for an indefinite period), distributions from IRAs or amounts attributable to elective deferrals under a 401(k) plan made during such active period. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

| 9. | ACCESS TO YOUR MONEY |
|----|----------------------|

| · | by taking a withdrawal (including GWB withdrawals); |
|--------|-----------------------------------------------------|

| · | by taking required minimum distributions (Qualified Contracts only); |
|--------|----------------------------------------------------------------------|

| · | by taking Annuity Payments; or |
|--------|--------------------------------|

| · | when we pay a death benefit. |
|--------|------------------------------|

| · | based upon the number of Accumulation Units held by the Contract on that Business Day and valued at the next available daily price, |
|--------|-------------------------------------------------------------------------------------------------------------------------------------|

| · | adjusted for any applicable MVA, |
|--------|----------------------------------|

| · | less any applicable withdrawal charge, and |
|--------|--------------------------------------------|

| · | less any contract maintenance charge. |
|--------|---------------------------------------|

----

| · | confined to a nursing home for a period of at least 90 consecutive days; or |
|--------|-----------------------------------------------------------------------------|

| · | terminally ill, which is defined as life expectancy of 12 months or less (we require a full withdrawal of the Contract in this instance). |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------|

| · | 12% of your total Purchase Payments before any MVA (the partial withdrawal privilege amount), or |
|--------|--------------------------------------------------------------------------------------------------|

| · | the remaining GWB value. |
|--------|--------------------------|

----

| * | Includes any amounts paid as part of a required minimum distribution. |
|---|-----------------------------------------------------------------------|

| For each GMIB Partial Annuitization a GWB adjusted partial withdrawal is equal to: | GMIBPA  x GWB1 |   |
|------------------------------------------------------------------------------------|--------------------------|--------|
| GMIB                                                                               |                     |

|   | 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* 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.*     Includes GWB withdrawals. |
|   | 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.                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|   | GMIB   | =   | The GMIB value on the day of (but before) the GMIB Partial Annuitization                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   | GWB1   | =   | The remaining GWB value on the day of (but before) the GMIB Partial Annuitization.                                                                                                                                                                                                                                                                                                                                                                                                                          |

| · | When the Contract ends. |
|--------|-------------------------|

| · | The Income Date that you take a Full Annuitization, including a required Full Annuitization on the maximum permitted Income Date. For more information, see section 3, The Annuity Phase. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The GWB value is zero. |
|--------|------------------------|

| · | The death of the Owner (unless the spouse continues the Contract as the new Owner). |
|--------|-------------------------------------------------------------------------------------|

----

| · | You purchased a February 2007 Contract and selected the Living Guarantees. You made only one initial Purchase Payment of $100,000. |
|--------|------------------------------------------------------------------------------------------------------------------------------------|

| · | The GWB value at issue is equal to the total Purchase Payments less GWB adjusted partial withdrawals, which is $100,000. |
|--------|--------------------------------------------------------------------------------------------------------------------------|

| · | The maximum amount you can withdraw under the GWB after the second Contract Anniversary is 12% of the total Purchase Payments before any MVA, which is 0.12 x $100,000 = $12,000. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | During the third Contract Year you take a partial withdraw of $13,000 (including any withdrawal charge) when the Contract Value on the day (but before) the withdrawal is $95,000. There is no MVA on the partial withdrawal. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 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 |   |
|                                                                                                                                                                                                  |   |   |   | 1.052632 |   |
|                                                                                                                                                                                                  |   |   | GWBV…………………………………………………………………………………………………………….. | x 1.052632) |
|                                                                                                                                                                                                  | GWB adjusted partial withdrawal…………………………………………………………………………………………….. | $13,053 |
|                                                                                                                                                                                                  |   |   |
| After this partial withdrawal, the remaining GWB value is $100,000 – $13,053 = ………………………………………… | $86,947 |

| · | During the fourth Contract Year you take another partial withdrawal of $14,000 (including any withdrawal charge) when the Contract Value on the day (but before) the withdrawal is $92,500. There is no MVA on the partial withdrawal. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 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 allowableGWB 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 |   |
|                                                                                         |   |   |   | 0.961589 |   |
|                                                                                         |   |   | GWBV | x       1) |
|                                                                                         | GWB adjusted partial withdrawal | $14,000 |
|                                                                                         |   |   |
| After this partial withdrawal, the remaining GWB value is $86,947 – $14,000 =          | $72,947 |

----

----

| · | the New York Stock Exchange is closed (other than customary weekend and holiday closings); |
|--------|--------------------------------------------------------------------------------------------|

| · | trading on the New York Stock Exchange is restricted; |
|--------|-------------------------------------------------------|

| · | an emergency (as determined by the SEC) exists as a result of which disposal of the Investment Option shares is not reasonably practicable or we cannot reasonably value the Investment Option shares; or |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | during any other period when the SEC, by order, so permits for the protection of Owners. |
|--------|------------------------------------------------------------------------------------------|

| 10. | DEATH BENEFIT |
|-----|---------------|

| 1. | The Contract Value, determined as of the end of the Business Day during which we receive in Good Order at our Service Center the death benefit payment option and due proof of death. |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | The Traditional GMDB value, which is the total of all Purchase Payments received, reduced for each GMDB adjusted partial withdrawal taken. |
|----|--------------------------------------------------------------------------------------------------------------------------------------------|

----

| 1. | The Contract Value, determined as of the end of the Business Day during which we receive in Good Order at our Service Center the death benefit payment option and due proof of death. |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | The Traditional GMDB value, which is the total of all Purchase Payments received, reduced for each GMDB adjusted partial withdrawal taken. |
|----|--------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | The Enhanced GMDB value, which is the Maximum Anniversary Value (MAV). We determine the MAV as of the end of the Business Day during which we receive in Good Order at our Service Center the death benefit payment option and due proof of death. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | its value on the immediately preceding Business Day, |
|--------|------------------------------------------------------|

| · | plus any additional Purchase Payments received that day, and |
|--------|--------------------------------------------------------------|

| · | reduced for each GMDB adjusted partial withdrawal taken that day. |
|--------|-------------------------------------------------------------------|

----

| (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. |

| For each GMIB Partial Annuitization, a GMDB adjusted partial withdrawal is equal to: …………………………... | GMIBPA  x GMDB1 |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------|
| GMIB                                                                                                                                                           |

| 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.    |

| · | The Business Day before the Income Date that you take a Full Annuitization. |
|--------|-----------------------------------------------------------------------------|

| · | The Business Day that the GMDB value and Contract Value are both zero. |
|--------|------------------------------------------------------------------------|

| · | When the Contract ends. |
|--------|-------------------------|

| · | continue to receive the required minimum distribution payments based on the remaining life expectancy of the deceased Owner and the Contract Value as of the Business Day we receive in Good Order at our Service Center both due proof of death and the appropriately completed election form; or |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | receive a lump sum payment based on the Contract Value as of the Business Day we receive in Good Order at our Service Center both due proof of death and the appropriately completed election form. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| UPON THE DEATH OF A SOLE OWNER                                             |
|----------------------------------------------------------------------------|
| Action under the portion of the Contract that is in the Accumulation Phase | Action under any portion of the Contract applied toAnnuity Payments |
| ·                                                                     | We pay a death benefit to the Beneficiary.(1) For a description of the payout options, see the “Death Benefit Payment Options” discussion later in this section. | · | The Beneficiary becomes the Owner. |
| ·                                                                     | If the deceased was not an Annuitant, Annuity Payments to the Payee continue. No death benefit is payable. |
| ·                                                                     | If the GWB was in effect, it ends unless the deceased Owner’s spouse continues the Contract. | · | If the deceased was the only surviving Annuitant, Annuity Payments to the Payee continue until that portion of the Contract ends and are paid at least as rapidly as they were being paid at the Annuitant’s death. For more information on when any portion of the Contract applied to Annuity Payments ends, see the discussion of “Traditional Annuity Payments” and “Guaranteed Minimum Income Benefit (GMIB)” in section 3, The Annuity Phase. No death benefit is payable under Annuity Options 1, 3, or 6. However, there may be a lump sum available under Annuity Options 2, 4, or 5. For more information, see section 3, The Annuity Phase – Annuity Options. |
|                                                                       |   |
|                                                                       |   | · | 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. |
| (1)                                                                        | If the Beneficiary is the spouse of the deceased Owner, he or she may be able to continue the Contract instead of receiving a death benefit payout. If the Contract continues, we increase the Contract Value to equal the death benefit if that amount is greater than the Contract Value as of the Business Day we receive in Good Order at our Service Center the death benefit payment election and due proof of death. |

----

| UPON THE DEATH OF A JOINT OWNER(NOTE: We do not allow Joint Owners to take Partial Annuitizations) |
|----------------------------------------------------------------------------------------------------|
| Action under the portion of the Contract that is in the Accumulation Phase                         | Action under any portion of the Contract applied toAnnuity Payments |
| ·                                                                                             | The surviving Joint Owner is the sole primary Beneficiary. If the Joint Owners were spouses there may also be contingent Beneficiaries. | · | The surviving Joint Owner becomes the sole Owner. |
| ·                                                                                             | We pay a death benefit to the surviving Joint Owner.(1) For a description of the payout options available, see the “Death Benefit Payment Options” discussion later in this section. | · | If the deceased was not an Annuitant, Annuity Payments to the Payee continue. No death benefit is payable. |
| ·                                                                                             | If the GWB was in effect, it ends unless the Joint Owners were spouses and the surviving spouse who is also the Joint Owner continues the Contract. | · | If the deceased was the only surviving Annuitant, Annuity Payments to the Payee continue until that portion of the Contract ends and are paid at least as rapidly as they were being paid at the Annuitant’s death. For more information on when any portion of the Contract applied to Annuity Payments ends, see the discussion of “Traditional Annuity Payments” and “Guaranteed Minimum Income Benefit (GMIB)” in section 3, The Annuity Phase. No death benefit is payable under Annuity Options 1, 3, or 6. However, there may be a lump sum available under Annuity Options 2, 4, or 5. For more information, see section 3, The Annuity Phase – Annuity Options. |
|                                                                                               |   | · | 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. |
| (1)                                                                                                | If the surviving Joint Owner is the spouse of the deceased Owner, he or she may be able to continue the Contract instead of receiving a death benefit payout. If the Contract continues, we increase the Contract Value to equal the death benefit if that amount is greater than the Contract Value as of the Business Day we receive in Good Order at our Service Center the death benefit payment election and due proof of death. If both spousal Joint Owners die before we pay the death benefit, we pay any contingent Beneficiaries or the estate of the Joint Owner who died last if there are no contingent Beneficiaries. If the Joint Owners were not spouses and they both die before we pay the death benefit, for tax reasons, we pay the estate of the Joint Owner who died last. |

----

| UPON THE DEATH OF THE ANNUITANT AND THERE IS NO SURVIVING JOINT ANNUITANT  |
|----------------------------------------------------------------------------|
| Action under the portion of the Contract that is in the Accumulation Phase | Action under any portion of the Contract applied toAnnuity Payments |
| ·                                                                     | If the Contract is owned by a non-individual (for example, a qualified plan or a trust), we treat the death of the Annuitant as the death of an Owner; we pay the Beneficiary(1) a death benefit, and a new Annuitant cannot be named. If the GWB was in effect, it ends unless the deceased Annuitant’s spouse continues the Contract. | · | Annuity Payments to the Payee continue until that portion of the Contract ends and are paid at least as rapidly as they were being paid at the Annuitant’s death. For more information on when any portion of the Contract applied to Annuity Payments ends, see the discussion of “Traditional Annuity Payments” and “Guaranteed Minimum Income Benefit (GMIB)” in section 3, The Annuity Phase. No death benefit is payable under Annuity Options 1, 3, or 6. However, there may be a lump sum available under Annuity Options 2, 4, or 5. For more information, see section 3, The Annuity Phase – Annuity Options. |
| ·                                                                     | If the deceased Annuitant was not an Owner, and the Contract is owned only by an individual(s), no death benefit is payable. The Owner can name a new Annuitant subject to our approval. If the GWB was in effect, it continues. |
| ·                                                                     | If the deceased Annuitant was a sole Owner, we pay the Beneficiary(1) a death benefit. If the GWB was in effect, it ends unless the deceased Owner’s spouse continues the Contract. | · | If the deceased was a sole Owner, the Beneficiary becomes the Owner if the Contract continues. |
| ·                                                                     | If the deceased was a Joint Owner, the surviving Joint Owner becomes the sole Owner if the Contract continues. |
| ·                                                                     | If the deceased Annuitant was a Joint Owner and there is a surviving Joint Owner, the surviving Joint Owner is the sole primary Beneficiary. If the Joint Owners were spouses, there may also be contingent Beneficiaries. We pay a death benefit to the surviving Joint Owner.(2) If the GWB was in effect, it ends unless the Joint Owners were spouses and the surviving spouse who is also the Joint Owner continues the Contract. |   |   |
| ·                                                                     | For a description of the payout options, see the “Death Benefit Payment Options” discussion later in this section. |   |   |
| (1)                                                                        | If the Beneficiary is the spouse of the deceased Owner, he or she may be able to continue the Contract instead of receiving a death benefit payout. If the Contract continues, we increase the Contract Value to equal the death benefit if that amount is greater than the Contract Value as of the Business Day we receive in Good Order at our Service Center the death benefit payment election and due proof of death. If the deceased was the Annuitant and the Owner was a non-individual, the surviving spouse becomes the new Owner upon Contract continuation. |
| (2)                                                                        | If the surviving Joint Owner is the spouse of the deceased Owner, he or she may be able to continue the Contract instead of receiving a death benefit payout. If the Contract continues, we increase the Contract Value to equal the death benefit if that amount is greater than the Contract Value as of the Business Day we receive in Good Order at our Service Center the death benefit payment election and due proof of death. If both spousal Joint Owners die before we pay the death benefit, we pay any contingent Beneficiaries or the estate of the Joint Owner who died last if there are no contingent Beneficiaries. If the Joint Owners were not spouses and they both die before we pay the death benefit, for tax reasons, we pay the estate of the Joint Owner who died last. |

----

| UPON THE DEATH OF THE ANNUITANT AND THERE IS A SURVIVING JOINT ANNUITANT(NOTE: We only allow joint Annuitants on Full Annuitization) |
|--------------------------------------------------------------------------------------------------------------------------------------|
| Action under the portion of the Contract that is in the Accumulation Phase                                                           | Action under any portion of the Contract applied toAnnuity Payments |
| ·                                                                                                                               | Only Annuity Options 3 and 4 allow joint Annuitants. Under Annuity Options 3 and 4, Annuity Payments to the Payee continue during the lifetime of the surviving joint Annuitant and, for Annuity Option 4, during any remaining specified period of time. For more information, see section 3, The Annuity Phase – Annuity Options. | · | No death benefit is payable. |
| ·                                                                                                                               | If the deceased was a sole Owner, the Beneficiary becomes the Owner. |
| ·                                                                                                                               | If the deceased was a Joint Owner, the surviving Joint Owner becomes the sole Owner. |

----

| 11. | OTHER INFORMATION |
|-----|-------------------|

----

| · | marketing services and increased access to Financial Professionals; |
|--------|---------------------------------------------------------------------|

| · | sales promotions relating to the Contracts; |
|--------|---------------------------------------------|

| · | costs associated with sales conferences and educational seminars for their Financial Professionals; |
|--------|-----------------------------------------------------------------------------------------------------|

| · | the cost of client meetings and presentations; and |
|--------|----------------------------------------------------|

| · | other sales expenses incurred by them. |
|--------|----------------------------------------|

| · | the level of existing sales and assets held in contracts issued by us that are sold through the broker/dealer firm and the potential for new or additional sales; |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | the organizational “fit” between the broker/dealer firm and the type of wholesaling and marketing force we operate; |
|--------|---------------------------------------------------------------------------------------------------------------------------------|

| · | whether the broker/dealer firm’s operational, IT, and support services structure and requirements are compatible with our method of operation; |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | whether the broker/dealer firm’s product mix is oriented toward our core markets; |
|--------|-----------------------------------------------------------------------------------------|

| · | whether the broker/dealer firm has a structure facilitating a marketing support arrangement, such as frequent Financial Professional meetings and training sessions; |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | the potential return on investment of investing in a particular firm’s system; |
|--------|--------------------------------------------------------------------------------------|

| · | our potential ability to obtain a significant level of the market share in the broker/dealer firm’s distribution channel; |
|--------|---------------------------------------------------------------------------------------------------------------------------------|

| · | the broker/dealer firm’s Financial Professional and customer profiles; and |
|--------|----------------------------------------------------------------------------------|

| · | the prominence and reputation of the broker/dealer firm in its marketing channel. |
|--------|-----------------------------------------------------------------------------------|

----

| · | issuance and maintenance of the Contracts, |
|--------|--------------------------------------------|

| · | maintenance of Owner records, |
|--------|-------------------------------|

| · | processing and mailing of account statements and other mailings to Owners, and |
|--------|--------------------------------------------------------------------------------|

| · | routine customer service including: |
|--------|-------------------------------------|

|   | – | responding to Owner correspondence and inquiries, |
|--------|---------|---------------------------------------------------|

|   | – | processing of Contract changes, |
|--------|---------|---------------------------------|

|   | – | processing withdrawal requests (both partial and total) and |
|--------|---------|-------------------------------------------------------------|

|   | – | processing annuitization requests. |
|--------|---------|------------------------------------|

----

| 12. | TABLE OF CONTENTS OF THE STATEMENT OF ADDITIONAL INFORMATION (SAI) |
|-----|--------------------------------------------------------------------|

| Allianz Life……………………………………………………...........                   | 2  |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----|
| Experts………………………………………………………….…....…  | 2  |
| Legal Opinions……………………………………………………….                    | 2  |
| Distributor……………………………………………………….………. | 2  |
| Reduction or Elimination of the Withdrawal Charge………………..                                                                                         | 3  |
| Federal Tax Status…………………………………………..….…..                                 | 3  |
| General…………………………………………………………...…           | 3  |
| Diversification…………………………………………….…......….                          | 4  |
| Owner Control………………………………………………..….                                 | 5  |
| Contracts Owned by Non-Individuals……………………..…..                                                                                 | 5  |
| Income Tax Withholding………………………………..….......                                                            | 5  |
| Required Distributions…………………………………..………                                              | 5  |
| Qualified Contracts……………………………………………...                                         | 6  |
| Guaranteed Account Value (GAV) Transfers……………..…                                                                                                  | 7  |
| Annuity Provisions…………………………………………….........                                    | 14 |
| Annuity Units/Calculating Annuity Payments…………….….                                                                                                | 14 |
| Mortality and Expense Risk Guarantee………………………..….                                                                         | 14 |
| Financial Statements…………………………………..…..……….                                      | 14 |
| Appendix – Condensed Financial Information…...……..………..                                                                                     | 15 |

----

| 13. | PRIVACY AND SECURITY STATEMENT |
|-----|--------------------------------|

| · | From you, either directly or through your agent. This includes information on your insurance application or other information provided during the application process or while you hold a policy with us. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | From others, through the process of handling a claim. This may include information from medical or accident reports. |
|--------|----------------------------------------------------------------------------------------------------------------------|

| · | From your doctor or health provider. This is medical information about you, gathered with your written authorization. |
|--------|-----------------------------------------------------------------------------------------------------------------------|

| · | From a consumer reporting agency such as a medical, credit, or motor vehicle report. |
|--------|--------------------------------------------------------------------------------------|

| · | From sources using the information you provide, in order to obtain updated or additional information. An example is the U.S. Postal Service, in order to validate your current mailing address so that we may maintain records to correspond with you. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | With affiliates and service providers in order to administer or service your policy, and with research groups to conduct various studies. However, no individual is identified in any study or summary report. These companies sign a Privacy and Security Agreement with Allianz, requiring them to protect your information. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | With consumer reporting agencies to obtain a medical report, credit report, or motor vehicle report. These reports are used to determine eligibility for coverage or to process your requested transactions. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | With your insurance agent and their affiliates so that they can perform services for you. |
|--------|-------------------------------------------------------------------------------------------|

| · | With medical professionals in order to process your claim. |
|--------|------------------------------------------------------------|

| · | With a state Department of Insurance in order to examine our records or business practices. |
|--------|---------------------------------------------------------------------------------------------|

| · | With a state or federal law enforcement agency, as required by law or to report suspected fraud activities. |
|--------|-------------------------------------------------------------------------------------------------------------|

----

| Allianz Life Insurance Company of North America5701 Golden Hills DriveMinneapolis, MN 55416-1297800.950.5872www.allianzlife.com | Allianz family of companies:·Allianz Life Insurance Company of North America·Allianz Life Insurance Company of New York·Allianz Investment Management LLC·Allianz Life Financial Services, LLC·Questar Asset Management, Inc.·Questar Capital Corporation |
|---------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Lowest and Highest Combination of Benefit Options                                                                                    | M&E Charge |
|--------------------------------------------------------------------------------------------------------------------------------------|----------------|
| Allianz High Five – February 2007 Contract or Original Contract issued on or after June 22, 2007 with the Traditional GMDB...  | 1.25%          |
| Allianz High Five – February 2007 Contract or Original Contract issued on or after June 22, 2007 with the Enhanced GMDB… | 1.45%          |

| M&E Charge 1.25%                    | M&E Charge 1.45%       |
|-----------------------------------------|----------------------------|
| Period or Year Ended                    | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |   | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
| AZL Balanced Index Strategy Fund        |
| 12/31/2009                              | N/A                        | 10.038 | 312 |   | 12/31/2009 | N/A | 10.034 | 99 |
| 12/31/2010                              | 10.038                     | 10.954 | 313 |   | 12/31/2010 | 10.034 | 10.927 | 94 |
| 12/31/2011                              | 10.954                     | 11.078 | 252 |   | 12/31/2011 | 10.927 | 11.030 | 75 |
| 12/31/2012                              | 11.078                     | 12.066 | 268 |   | 12/31/2012 | 11.030 | 11.989 | 103 |
| AZL BlackRock Capital Appreciation Fund |
| 12/31/2007                              | N/A                        | 13.163 | 112 |   | 12/31/2007 | N/A | 13.092 | 31 |
| 12/31/2008                              | 13.163                     | 8.271 | 182 |   | 12/31/2008 | 13.092 | 8.210 | 47 |
| 12/31/2009                              | 8.271                      | 11.064 | 741 |   | 12/31/2009 | 8.210 | 10.961 | 188 |
| 12/31/2010                              | 11.064                     | 13.025 | 567 |   | 12/31/2010 | 10.961 | 12.878 | 160 |
| 12/31/2011                              | 13.025                     | 11.691 | 370 |   | 12/31/2011 | 12.878 | 11.536 | 98 |
| 12/31/2012                              | 11.691                     | 13.130 | 469 |   | 12/31/2012 | 11.536 | 12.930 | 153 |
| AZL Columbia Mid Cap Value Fund         |
| 12/31/2007                              | N/A                        | 10.345 | 175 |   | 12/31/2007 | N/A | 10.310 | 60 |
| 12/31/2008                              | 10.345                     | 4.888 | 220 |   | 12/31/2008 | 10.310 | 4.862 | 53 |
| 12/31/2009                              | 4.888                      | 6.387 | 302 |   | 12/31/2009 | 4.862 | 6.340 | 61 |
| 12/31/2010                              | 6.387                      | 7.737 | 340 |   | 12/31/2010 | 6.340 | 7.665 | 76 |
| 12/31/2011                              | 7.737                      | 7.369 | 191 |   | 12/31/2011 | 7.665 | 7.285 | 68 |
| 12/31/2012                              | 7.369                      | 8.443 | 260 |   | 12/31/2012 | 7.285 | 8.331 | 90 |
| AZL Columbia Small Cap Value Fund       |
| 12/31/2007                              | N/A                        | 12.508 | 81 |   | 12/31/2007 | N/A | 12.417 | 34 |
| 12/31/2008                              | 12.508                     | 8.389 | 92 |   | 12/31/2008 | 12.417 | 8.311 | 39 |
| 12/31/2009                              | 8.389                      | 10.330 | 86 |   | 12/31/2009 | 8.311 | 10.214 | 22 |
| 12/31/2010                              | 10.330                     | 12.847 | 84 |   | 12/31/2010 | 10.214 | 12.677 | 21 |
| 12/31/2011                              | 12.847                     | 11.900 | 48 |   | 12/31/2011 | 12.677 | 11.718 | 16 |
| 12/31/2012                              | 11.900                     | 13.059 | 70 |   | 12/31/2012 | 11.718 | 12.835 | 27 |
| AZL Davis New York Venture Fund         |
| 12/31/2007                              | N/A                        | 13.681 | 534 |   | 12/31/2007 | N/A | 13.513 | 181 |
| 12/31/2008                              | 13.681                     | 8.038 | 618 |   | 12/31/2008 | 13.513 | 7.924 | 232 |
| 12/31/2009                              | 8.038                      | 10.465 | 588 |   | 12/31/2009 | 7.924 | 10.296 | 229 |
| 12/31/2010                              | 10.465                     | 11.580 | 548 |   | 12/31/2010 | 10.296 | 11.370 | 214 |
| 12/31/2011                              | 11.580                     | 10.957 | 345 |   | 12/31/2011 | 11.370 | 10.736 | 154 |
| 12/31/2012                              | 10.957                     | 12.153 | 487 |   | 12/31/2012 | 10.736 | 11.885 | 224 |

----

| M&E Charge 1.25%                          | M&E Charge 1.45%       |
|-----------------------------------------------|----------------------------|
| Period or Year Ended                          | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |   | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
| AZL Dreyfus Research Growth Fund              |
| 12/31/2007                                    | N/A                        | 11.633 | 465 |   | 12/31/2007 | N/A | 11.491 | 106 |
| 12/31/2008                                    | 11.633                     | 6.706 | 370 |   | 12/31/2008 | 11.491 | 6.610 | 123 |
| 12/31/2009                                    | 6.706                      | 8.924 | 267 |   | 12/31/2009 | 6.610 | 8.780 | 172 |
| 12/31/2010                                    | 8.924                      | 10.834 | 295 |   | 12/31/2010 | 8.780 | 10.637 | 123 |
| 12/31/2011                                    | 10.834                     | 10.358 | 161 |   | 12/31/2011 | 10.637 | 10.149 | 84 |
| 12/31/2012                                    | 10.358                     | 12.044 | 241 |   | 12/31/2012 | 10.149 | 11.778 | 113 |
| AZL Federated Clover Small Value Fund         |
| 12/31/2007                                    | N/A                        | 17.608 | 385 |   | 12/31/2007 | N/A | 17.445 | 117 |
| 12/31/2008                                    | 17.608                     | 11.524 | 410 |   | 12/31/2008 | 17.445 | 11.393 | 105 |
| 12/31/2009                                    | 11.524                     | 14.865 | 321 |   | 12/31/2009 | 11.393 | 14.667 | 76 |
| 12/31/2010                                    | 14.865                     | 18.659 | 284 |   | 12/31/2010 | 14.667 | 18.375 | 65 |
| 12/31/2011                                    | 18.659                     | 17.706 | 180 |   | 12/31/2011 | 18.375 | 17.401 | 46 |
| 12/31/2012                                    | 17.706                     | 19.989 | 231 |   | 12/31/2012 | 17.401 | 19.605 | 69 |
| AZL Growth Index Strategy Fund                |
| 12/31/2009                                    | N/A                        | 10.070 | 403 |   | 12/31/2009 | N/A | 10.066 | 197 |
| 12/31/2010                                    | 10.070                     | 11.279 | 297 |   | 12/31/2010 | 10.066 | 11.252 | 172 |
| 12/31/2011                                    | 11.279                     | 11.140 | 198 |   | 12/31/2011 | 11.252 | 11.092 | 130 |
| 12/31/2012                                    | 11.140                     | 12.467 | 270 |   | 12/31/2012 | 11.092 | 12.388 | 166 |
| AZL International Index Fund                  |
| 12/31/2009                                    | N/A                        | 9.763 | 70 |   | 12/31/2009 | N/A | 9.760 | 10 |
| 12/31/2010                                    | 9.763                      | 10.328 | 61 |   | 12/31/2010 | 9.760 | 10.304 | 93 |
| 12/31/2011                                    | 10.328                     | 8.897 | 37 |   | 12/31/2011 | 10.304 | 8.858 | 76 |
| 12/31/2012                                    | 8.897                      | 10.371 | 87 |   | 12/31/2012 | 8.858 | 10.305 | 32 |
| AZL Invesco Equity and Income Fund            |
| 12/31/2007                                    | N/A                        | 12.903 | 340 |   | 12/31/2007 | N/A | 12.808 | 295 |
| 12/31/2008                                    | 12.903                     | 9.694 | 274 |   | 12/31/2008 | 12.808 | 9.604 | 275 |
| 12/31/2009                                    | 9.694                      | 11.761 | 258 |   | 12/31/2009 | 9.604 | 11.629 | 268 |
| 12/31/2010                                    | 11.761                     | 12.979 | 229 |   | 12/31/2010 | 11.629 | 12.807 | 176 |
| 12/31/2011                                    | 12.979                     | 12.539 | 170 |   | 12/31/2011 | 12.807 | 12.348 | 123 |
| 12/31/2012                                    | 12.539                     | 13.857 | 228 |   | 12/31/2012 | 12.348 | 13.618 | 183 |
| AZL Invesco Growth and Income Fund            |
| 12/31/2007                                    | N/A                        | 14.435 | 218 |   | 12/31/2007 | N/A | 14.244 | 271 |
| 12/31/2008                                    | 14.435                     | 9.572 | 191 |   | 12/31/2008 | 14.244 | 9.426 | 202 |
| 12/31/2009                                    | 9.572                      | 11.688 | 166 |   | 12/31/2009 | 9.426 | 11.487 | 188 |
| 12/31/2010                                    | 11.688                     | 12.970 | 137 |   | 12/31/2010 | 11.487 | 12.722 | 129 |
| 12/31/2011                                    | 12.970                     | 12.561 | 106 |   | 12/31/2011 | 12.722 | 12.296 | 76 |
| 12/31/2012                                    | 12.561                     | 14.182 | 138 |   | 12/31/2012 | 12.296 | 13.855 | 145 |
| AZL Invesco International Equity Fund         |
| 12/31/2007                                    | N/A                        | 20.000 | 324 |   | 12/31/2007 | N/A | 19.774 | 110 |
| 12/31/2008                                    | 20.000                     | 11.553 | 226 |   | 12/31/2008 | 19.774 | 11.399 | 78 |
| 12/31/2009                                    | 11.553                     | 15.325 | 371 |   | 12/31/2009 | 11.399 | 15.092 | 99 |
| 12/31/2010                                    | 15.325                     | 17.030 | 301 |   | 12/31/2010 | 15.092 | 16.737 | 74 |
| 12/31/2011                                    | 17.030                     | 15.589 | 174 |   | 12/31/2011 | 16.737 | 15.290 | 43 |
| 12/31/2012                                    | 15.589                     | 17.789 | 282 |   | 12/31/2012 | 15.290 | 17.413 | 93 |
| AZL JPMorgan International Opportunities Fund |
| 12/31/2007                                    | N/A                        | 19.496 | 442 |   | 12/31/2007 | N/A | 19.314 | 290 |
| 12/31/2008                                    | 19.496                     | 13.753 | 363 |   | 12/31/2008 | 19.314 | 13.598 | 217 |
| 12/31/2009                                    | 13.753                     | 17.158 | 356 |   | 12/31/2009 | 13.598 | 16.930 | 334 |
| 12/31/2010                                    | 17.158                     | 17.952 | 274 |   | 12/31/2010 | 16.930 | 17.679 | 156 |
| 12/31/2011                                    | 17.952                     | 15.353 | 161 |   | 12/31/2011 | 17.679 | 15.089 | 96 |
| 12/31/2012                                    | 15.353                     | 18.233 | 299 |   | 12/31/2012 | 15.089 | 17.883 | 176 |
| AZL JPMorgan U.S. Equity Fund                 |
| 12/31/2007                                    | N/A                        | 13.011 | 154 |   | 12/31/2007 | N/A | 12.916 | 117 |
| 12/31/2008                                    | 13.011                     | 7.879 | 170 |   | 12/31/2008 | 12.916 | 7.806 | 139 |
| 12/31/2009                                    | 7.879                      | 10.404 | 251 |   | 12/31/2009 | 7.806 | 10.287 | 134 |
| 12/31/2010                                    | 10.404                     | 11.607 | 182 |   | 12/31/2010 | 10.287 | 11.453 | 100 |
| 12/31/2011                                    | 11.607                     | 11.212 | 137 |   | 12/31/2011 | 11.453 | 11.041 | 70 |
| 12/31/2012                                    | 11.212                     | 12.969 | 200 |   | 12/31/2012 | 11.041 | 12.746 | 103 |

----

| M&E Charge 1.25%                       | M&E Charge 1.45%       |
|--------------------------------------------|----------------------------|
| Period or Year Ended                       | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |   | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
| AZL MFS Investors Trust Fund               |
| 12/31/2007                                 | N/A                        | 14.931 | 417 |   | 12/31/2007 | N/A | 14.851 | 326 |
| 12/31/2008                                 | 14.931                     | 8.831 | 582 |   | 12/31/2008 | 14.851 | 8.766 | 283 |
| 12/31/2009                                 | 8.831                      | 13.239 | 729 |   | 12/31/2009 | 8.766 | 13.116 | 209 |
| 12/31/2010                                 | 13.239                     | 14.515 | 524 |   | 12/31/2010 | 13.116 | 14.351 | 146 |
| 12/31/2011                                 | 14.515                     | 14.017 | 349 |   | 12/31/2011 | 14.351 | 13.831 | 85 |
| 12/31/2012                                 | 14.017                     | 16.465 | 456 |   | 12/31/2012 | 13.831 | 16.214 | 166 |
| AZL MFS Value Fund                         |
| 12/31/2007                                 | N/A                        | 12.510 | 318 |   | 12/31/2007 | N/A | 12.344 | 265 |
| 12/31/2008                                 | 12.510                     | 7.884 | 247 |   | 12/31/2008 | 12.344 | 7.764 | 233 |
| 12/31/2009                                 | 7.884                      | 9.852 | 171 |   | 12/31/2009 | 7.764 | 9.682 | 240 |
| 12/31/2010                                 | 9.852                      | 10.685 | 155 |   | 12/31/2010 | 9.682 | 10.481 | 149 |
| 12/31/2011                                 | 10.685                     | 10.083 | 105 |   | 12/31/2011 | 10.481 | 9.870 | 99 |
| 12/31/2012                                 | 10.083                     | 11.617 | 222 |   | 12/31/2012 | 9.870 | 11.349 | 151 |
| AZL Mid Cap Index Fund                     |
| 12/31/2010                                 | N/A                        | 10.681 | 332 |   | 12/31/2010 | N/A | 10.667 | 46 |
| 12/31/2011                                 | 10.681                     | 10.304 | 244 |   | 12/31/2011 | 10.667 | 10.270 | 29 |
| 12/31/2012                                 | 10.304                     | 11.927 | 306 |   | 12/31/2012 | 10.270 | 11.864 | 51 |
| AZL Money Market Fund                      |
| 12/31/2007                                 | N/A                        | 11.258 | 2421 |   | 12/31/2007 | N/A | 11.081 | 729 |
| 12/31/2008                                 | 11.258                     | 11.389 | 2795 |   | 12/31/2008 | 11.081 | 11.188 | 773 |
| 12/31/2009                                 | 11.389                     | 11.273 | 2432 |   | 12/31/2009 | 11.188 | 11.051 | 661 |
| 12/31/2010                                 | 11.273                     | 11.133 | 1814 |   | 12/31/2010 | 11.051 | 10.893 | 558 |
| 12/31/2011                                 | 11.133                     | 10.996 | 1434 |   | 12/31/2011 | 10.893 | 10.736 | 434 |
| 12/31/2012                                 | 10.996                     | 10.858 | 2100 |   | 12/31/2012 | 10.736 | 10.581 | 508 |
| AZL Morgan Stanley Global Real Estate Fund |
| 12/31/2007                                 | N/A                        | 10.879 | 386 |   | 12/31/2007 | N/A | 10.843 | 139 |
| 12/31/2008                                 | 10.879                     | 5.820 | 300 |   | 12/31/2008 | 10.843 | 5.789 | 167 |
| 12/31/2009                                 | 5.820                      | 8.057 | 226 |   | 12/31/2009 | 5.789 | 7.998 | 89 |
| 12/31/2010                                 | 8.057                      | 9.617 | 279 |   | 12/31/2010 | 7.998 | 9.528 | 82 |
| 12/31/2011                                 | 9.617                      | 8.554 | 155 |   | 12/31/2011 | 9.528 | 8.457 | 50 |
| 12/31/2012                                 | 8.554                      | 10.969 | 264 |   | 12/31/2012 | 8.457 | 10.823 | 98 |
| AZL Morgan Stanley Mid Cap Growth Fund     |
| 12/31/2007                                 | N/A                        | 16.356 | 464 |   | 12/31/2007 | N/A | 16.139 | 269 |
| 12/31/2008                                 | 16.356                     | 8.315 | 454 |   | 12/31/2008 | 16.139 | 8.189 | 235 |
| 12/31/2009                                 | 8.315                      | 12.947 | 458 |   | 12/31/2009 | 8.189 | 12.725 | 171 |
| 12/31/2010                                 | 12.947                     | 16.942 | 413 |   | 12/31/2010 | 12.725 | 16.617 | 125 |
| 12/31/2011                                 | 16.942                     | 15.633 | 210 |   | 12/31/2011 | 16.617 | 15.303 | 71 |
| 12/31/2012                                 | 15.633                     | 16.729 | 272 |   | 12/31/2012 | 15.303 | 16.342 | 108 |
| AZL MVP Fusion Balanced Fund               |
| 12/31/2007                                 | N/A                        | 12.170 | 1016 |   | 12/31/2007 | N/A | 12.105 | 272 |
| 12/31/2008                                 | 12.170                     | 8.720 | 1104 |   | 12/31/2008 | 12.105 | 8.656 | 330 |
| 12/31/2009                                 | 8.720                      | 10.912 | 1562 |   | 12/31/2009 | 8.656 | 10.811 | 432 |
| 12/31/2010                                 | 10.912                     | 11.970 | 1460 |   | 12/31/2010 | 10.811 | 11.835 | 468 |
| 12/31/2011                                 | 11.970                     | 11.715 | 1060 |   | 12/31/2011 | 11.835 | 11.559 | 314 |
| 12/31/2012                                 | 11.715                     | 12.887 | 1304 |   | 12/31/2012 | 11.559 | 12.690 | 343 |
| AZL MVP Fusion Growth Fund                 |
| 12/31/2007                                 | N/A                        | 12.865 | 2356 |   | 12/31/2007 | N/A | 12.796 | 711 |
| 12/31/2008                                 | 12.865                     | 7.758 | 2407 |   | 12/31/2008 | 12.796 | 7.701 | 730 |
| 12/31/2009                                 | 7.758                      | 10.128 | 2047 |   | 12/31/2009 | 7.701 | 10.034 | 458 |
| 12/31/2010                                 | 10.128                     | 11.293 | 1781 |   | 12/31/2010 | 10.034 | 11.165 | 360 |
| 12/31/2011                                 | 11.293                     | 10.659 | 1145 |   | 12/31/2011 | 11.165 | 10.517 | 213 |
| 12/31/2012                                 | 10.659                     | 11.924 | 1629 |   | 12/31/2012 | 10.517 | 11.742 | 430 |
| AZL MVP Fusion Moderate Fund               |
| 12/31/2007                                 | N/A                        | 12.446 | 2423 |   | 12/31/2007 | N/A | 12.379 | 1021 |
| 12/31/2008                                 | 12.446                     | 8.265 | 2437 |   | 12/31/2008 | 12.379 | 8.204 | 1042 |
| 12/31/2009                                 | 8.265                      | 10.564 | 2413 |   | 12/31/2009 | 8.204 | 10.465 | 761 |
| 12/31/2010                                 | 10.564                     | 11.658 | 2349 |   | 12/31/2010 | 10.465 | 11.526 | 687 |
| 12/31/2011                                 | 11.658                     | 11.186 | 1461 |   | 12/31/2011 | 11.526 | 11.038 | 423 |
| 12/31/2012                                 | 11.186                     | 12.431 | 2020 |   | 12/31/2012 | 11.038 | 12.242 | 711 |

----

| M&E Charge 1.25%                                              | M&E Charge 1.45%       |
|-------------------------------------------------------------------|----------------------------|
| Period or Year Ended                                              | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |   | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
| AZL Oppenheimer Discovery Fund                                    |
| 12/31/2007                                                        | N/A                        | 12.823 | 56 |   | 12/31/2007 | N/A | 12.755 | 14 |
| 12/31/2008                                                        | 12.823                     | 7.174 | 74 |   | 12/31/2008 | 12.755 | 7.121 | 18 |
| 12/31/2009                                                        | 7.174                      | 9.309 | 74 |   | 12/31/2009 | 7.121 | 9.223 | 13 |
| 12/31/2010                                                        | 9.309                      | 11.844 | 97 |   | 12/31/2010 | 9.223 | 11.711 | 17 |
| 12/31/2011                                                        | 11.844                     | 11.067 | 48 |   | 12/31/2011 | 11.711 | 10.920 | 21 |
| 12/31/2012                                                        | 11.067                     | 12.746 | 70 |   | 12/31/2012 | 10.920 | 12.552 | 24 |
| AZL S&P 500 Index Fund                                        |
| 12/31/2007                                                        | N/A                        | 9.892 | 313 |   | 12/31/2007 | N/A | 9.879 | 49 |
| 12/31/2008                                                        | 9.892                      | 6.094 | 535 |   | 12/31/2008 | 9.879 | 6.074 | 172 |
| 12/31/2009                                                        | 6.094                      | 7.544 | 1214 |   | 12/31/2009 | 6.074 | 7.504 | 716 |
| 12/31/2010                                                        | 7.544                      | 8.536 | 881 |   | 12/31/2010 | 7.504 | 8.474 | 508 |
| 12/31/2011                                                        | 8.536                      | 8.561 | 604 |   | 12/31/2011 | 8.474 | 8.482 | 349 |
| 12/31/2012                                                        | 8.561                      | 9.758 | 1038 |   | 12/31/2012 | 8.482 | 9.648 | 533 |
| AZL Schroder Emerging Markets Equity Fund                         |
| 12/31/2007                                                        | N/A                        | 13.489 | 447 |   | 12/31/2007 | N/A | 13.444 | 229 |
| 12/31/2008                                                        | 13.489                     | 6.409 | 377 |   | 12/31/2008 | 13.444 | 6.375 | 183 |
| 12/31/2009                                                        | 6.409                      | 10.873 | 456 |   | 12/31/2009 | 6.375 | 10.793 | 126 |
| 12/31/2010                                                        | 10.873                     | 12.070 | 420 |   | 12/31/2010 | 10.793 | 11.957 | 101 |
| 12/31/2011                                                        | 12.070                     | 9.861 | 202 |   | 12/31/2011 | 11.957 | 9.750 | 55 |
| 12/31/2012                                                        | 9.861                      | 11.787 | 315 |   | 12/31/2012 | 9.750 | 11.631 | 100 |
| AZL Small Cap Stock Index Fund                                    |
| 12/31/2007                                                        | N/A                        | 9.339 | 148 |   | 12/31/2007 | N/A | 9.326 | 29 |
| 12/31/2008                                                        | 9.339                      | 6.369 | 331 |   | 12/31/2008 | 9.326 | 6.347 | 81 |
| 12/31/2009                                                        | 6.369                      | 7.852 | 260 |   | 12/31/2009 | 6.347 | 7.810 | 87 |
| 12/31/2010                                                        | 7.852                      | 9.731 | 284 |   | 12/31/2010 | 7.810 | 9.660 | 205 |
| 12/31/2011                                                        | 9.731                      | 9.639 | 167 |   | 12/31/2011 | 9.660 | 9.549 | 149 |
| 12/31/2012                                                        | 9.639                      | 11.024 | 203 |   | 12/31/2012 | 9.549 | 10.899 | 170 |
| BlackRock Global Allocation V.I. Fund                             |
| 12/31/2008                                                        | N/A                        | 7.927 | 223 |   | 12/31/2008 | N/A | 7.917 | 59 |
| 12/31/2009                                                        | 7.927                      | 9.466 | 669 |   | 12/31/2009 | 7.917 | 9.435 | 371 |
| 12/31/2010                                                        | 9.466                      | 10.261 | 748 |   | 12/31/2010 | 9.435 | 10.207 | 206 |
| 12/31/2011                                                        | 10.261                     | 9.765 | 622 |   | 12/31/2011 | 10.207 | 9.694 | 175 |
| 12/31/2012                                                        | 9.765                      | 10.604 | 682 |   | 12/31/2012 | 9.694 | 10.506 | 207 |
| Columbia Variable Portfolio – Select Smaller-Cap Value Fund |
| 12/31/2007                                                        | N/A                        | N/A | N/A |   | 12/31/2007 | N/A | N/A | N/A |
| 12/31/2008                                                        | N/A                        | N/A | N/A |   | 12/31/2008 | N/A | N/A | N/A |
| 12/31/2009                                                        | N/A                        | N/A | N/A |   | 12/31/2009 | N/A | N/A | N/A |
| 12/31/2010                                                        | N/A                        | N/A | N/A |   | 12/31/2010 | N/A | N/A | N/A |
| 12/31/2011                                                        | N/A                        | N/A | N/A |   | 12/31/2011 | N/A | N/A | N/A |
| 12/31/2012                                                        | N/A                        | N/A | N/A |   | 12/31/2012 | N/A | N/A | N/A |
| Davis VA Financial Portfolio                                      |
| 12/31/2007                                                        | N/A                        | 16.021 | 36 |   | 12/31/2007 | N/A | 15.770 | 41 |
| 12/31/2008                                                        | 16.021                     | 8.486 | 115 |   | 12/31/2008 | 15.770 | 8.336 | 53 |
| 12/31/2009                                                        | 8.486                      | 11.832 | 128 |   | 12/31/2009 | 8.336 | 11.600 | 39 |
| 12/31/2010                                                        | 11.832                     | 12.982 | 93 |   | 12/31/2010 | 11.600 | 12.702 | 26 |
| 12/31/2011                                                        | 12.982                     | 11.801 | 60 |   | 12/31/2011 | 12.702 | 11.523 | 15 |
| 12/31/2012                                                        | 11.801                     | 13.848 | 61 |   | 12/31/2012 | 11.523 | 13.494 | 27 |
| Davis VA Value Portfolio                                          |
| 12/31/2007                                                        | N/A                        | N/A | N/A |   | 12/31/2007 | N/A | N/A | N/A |
| 12/31/2008                                                        | N/A                        | N/A | N/A |   | 12/31/2008 | N/A | N/A | N/A |
| 12/31/2009                                                        | N/A                        | N/A | N/A |   | 12/31/2009 | N/A | N/A | N/A |
| 12/31/2010                                                        | N/A                        | N/A | N/A |   | 12/31/2010 | N/A | N/A | N/A |
| 12/31/2011                                                        | N/A                        | N/A | N/A |   | 12/31/2011 | N/A | N/A | N/A |
| 12/31/2012                                                        | N/A                        | N/A | N/A |   | 12/31/2012 | N/A | N/A | N/A |

----

| M&E Charge 1.25%                          | M&E Charge 1.45%       |
|-----------------------------------------------|----------------------------|
| Period or Year Ended                          | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |   | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
| Franklin Global Real Estate Securities Fund   |
| 12/31/2007                                    | N/A                        | 55.094 | 2 |   | 12/31/2007 | N/A | 53.045 | 2 |
| 12/31/2008                                    | 55.094                     | 31.343 | 1 |   | 12/31/2008 | 53.045 | 30.117 | 1 |
| 12/31/2009                                    | 31.343                     | 36.861 | 1 |   | 12/31/2009 | 30.117 | 35.348 | 0 |
| 12/31/2010                                    | 36.861                     | 44.037 | 1 |   | 12/31/2010 | 35.348 | 42.145 | 0 |
| 12/31/2011                                    | 44.037                     | 41.032 | 4 |   | 12/31/2011 | 42.145 | 39.192 | 0 |
| 12/31/2012                                    | 41.032                     | 51.627 | 2 |   | 12/31/2012 | 39.192 | 49.212 | 1 |
| Franklin Growth and Income Securities Fund    |
| 12/31/2007                                    | N/A                        | 37.511 | 25 |   | 12/31/2007 | N/A | 36.116 | 13 |
| 12/31/2008                                    | 37.511                     | 24.025 | 18 |   | 12/31/2008 | 36.116 | 23.085 | 9 |
| 12/31/2009                                    | 24.025                     | 30.027 | 5 |   | 12/31/2009 | 23.085 | 28.795 | 3 |
| 12/31/2010                                    | 30.027                     | 34.600 | 3 |   | 12/31/2010 | 28.795 | 33.114 | 2 |
| 12/31/2011                                    | 34.600                     | 34.993 | 5 |   | 12/31/2011 | 33.114 | 33.424 | 3 |
| 12/31/2012                                    | 34.993                     | 38.783 | 8 |   | 12/31/2012 | 33.424 | 36.969 | 6 |
| Franklin High Income Securities Fund          |
| 12/31/2007                                    | N/A                        | 26.119 | 123 |   | 12/31/2007 | N/A | 25.147 | 84 |
| 12/31/2008                                    | 26.119                     | 19.763 | 100 |   | 12/31/2008 | 25.147 | 18.990 | 53 |
| 12/31/2009                                    | 19.763                     | 27.851 | 120 |   | 12/31/2009 | 18.990 | 26.708 | 47 |
| 12/31/2010                                    | 27.851                     | 31.151 | 115 |   | 12/31/2010 | 26.708 | 29.813 | 49 |
| 12/31/2011                                    | 31.151                     | 32.168 | 69 |   | 12/31/2011 | 29.813 | 30.725 | 24 |
| 12/31/2012                                    | 32.168                     | 36.710 | 82 |   | 12/31/2012 | 30.725 | 34.992 | 51 |
| Franklin Income Securities Fund               |
| 12/31/2007                                    | N/A                        | 49.888 | 840 |   | 12/31/2007 | N/A | 48.033 | 288 |
| 12/31/2008                                    | 49.888                     | 34.656 | 635 |   | 12/31/2008 | 48.033 | 33.301 | 202 |
| 12/31/2009                                    | 34.656                     | 46.408 | 433 |   | 12/31/2009 | 33.301 | 44.504 | 119 |
| 12/31/2010                                    | 46.408                     | 51.640 | 389 |   | 12/31/2010 | 44.504 | 49.422 | 100 |
| 12/31/2011                                    | 51.640                     | 52.216 | 251 |   | 12/31/2011 | 49.422 | 49.873 | 61 |
| 12/31/2012                                    | 52.216                     | 58.088 | 437 |   | 12/31/2012 | 49.873 | 55.370 | 124 |
| Franklin Large Cap Growth Securities Fund     |
| 12/31/2007                                    | N/A                        | 21.457 | 41 |   | 12/31/2007 | N/A | 20.961 | 12 |
| 12/31/2008                                    | 21.457                     | 13.873 | 23 |   | 12/31/2008 | 20.961 | 13.526 | 8 |
| 12/31/2009                                    | 13.873                     | 17.774 | 6 |   | 12/31/2009 | 13.526 | 17.295 | 2 |
| 12/31/2010                                    | 17.774                     | 19.588 | 9 |   | 12/31/2010 | 17.295 | 19.021 | 4 |
| 12/31/2011                                    | 19.588                     | 19.054 | 21 |   | 12/31/2011 | 19.021 | 18.466 | 3 |
| 12/31/2012                                    | 19.054                     | 21.144 | 23 |   | 12/31/2012 | 18.466 | 20.450 | 5 |
| Franklin Rising Dividends Securities Fund     |
| 12/31/2007                                    | N/A                        | 37.958 | 13 |   | 12/31/2007 | N/A | 36.767 | 47 |
| 12/31/2008                                    | 37.958                     | 27.327 | 11 |   | 12/31/2008 | 36.767 | 26.417 | 27 |
| 12/31/2009                                    | 27.327                     | 31.669 | 12 |   | 12/31/2009 | 26.417 | 30.552 | 14 |
| 12/31/2010                                    | 31.669                     | 37.732 | 28 |   | 12/31/2010 | 30.552 | 36.329 | 10 |
| 12/31/2011                                    | 37.732                     | 39.500 | 24 |   | 12/31/2011 | 36.329 | 37.955 | 3 |
| 12/31/2012                                    | 39.500                     | 43.672 | 28 |   | 12/31/2012 | 37.955 | 41.880 | 16 |
| Franklin Small Cap Value Securities Fund      |
| 12/31/2007                                    | N/A                        | N/A | N/A |   | 12/31/2007 | N/A | N/A | N/A |
| 12/31/2008                                    | N/A                        | N/A | N/A |   | 12/31/2008 | N/A | N/A | N/A |
| 12/31/2009                                    | N/A                        | N/A | N/A |   | 12/31/2009 | N/A | N/A | N/A |
| 12/31/2010                                    | N/A                        | N/A | N/A |   | 12/31/2010 | N/A | N/A | N/A |
| 12/31/2011                                    | N/A                        | N/A | N/A |   | 12/31/2011 | N/A | N/A | N/A |
| 12/31/2012                                    | N/A                        | N/A | N/A |   | 12/31/2012 | N/A | N/A | N/A |
| Franklin Small-Mid Cap Growth Securities Fund |
| 12/31/2007                                    | N/A                        | 25.771 | 2 |   | 12/31/2007 | N/A | 25.151 | 2 |
| 12/31/2008                                    | 25.771                     | 14.635 | 3 |   | 12/31/2008 | 25.151 | 14.255 | 2 |
| 12/31/2009                                    | 14.635                     | 20.752 | 3 |   | 12/31/2009 | 14.255 | 20.171 | 1 |
| 12/31/2010                                    | 20.752                     | 26.155 | 28 |   | 12/31/2010 | 20.171 | 25.373 | 3 |
| 12/31/2011                                    | 26.155                     | 24.583 | 16 |   | 12/31/2011 | 25.373 | 23.800 | 2 |
| 12/31/2012                                    | 24.583                     | 26.910 | 16 |   | 12/31/2012 | 23.800 | 26.001 | 3 |

----

| M&E Charge 1.25%                                  | M&E Charge 1.45%       |
|-------------------------------------------------------|----------------------------|
| Period or Year Ended                                  | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |   | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
| Franklin Templeton VIP Founding Funds Allocation Fund |
| 12/31/2007                                            | N/A                        | 9.253 | 214 |   | 12/31/2007 | N/A | 9.244 | 474 |
| 12/31/2008                                            | 9.253                      | 5.860 | 519 |   | 12/31/2008 | 9.244 | 5.842 | 196 |
| 12/31/2009                                            | 5.860                      | 7.538 | 742 |   | 12/31/2009 | 5.842 | 7.500 | 288 |
| 12/31/2010                                            | 7.538                      | 8.207 | 619 |   | 12/31/2010 | 7.500 | 8.150 | 263 |
| 12/31/2011                                            | 8.207                      | 7.981 | 375 |   | 12/31/2011 | 8.150 | 7.909 | 170 |
| 12/31/2012                                            | 7.981                      | 9.090 | 440 |   | 12/31/2012 | 7.909 | 8.990 | 188 |
| Franklin U.S. Government Fund                         |
| 12/31/2007                                            | N/A                        | 26.955 | 137 |   | 12/31/2007 | N/A | 25.960 | 75 |
| 12/31/2008                                            | 26.955                     | 28.639 | 218 |   | 12/31/2008 | 25.960 | 27.526 | 74 |
| 12/31/2009                                            | 28.639                     | 29.159 | 301 |   | 12/31/2009 | 27.526 | 27.970 | 112 |
| 12/31/2010                                            | 29.159                     | 30.318 | 293 |   | 12/31/2010 | 27.970 | 29.023 | 89 |
| 12/31/2011                                            | 30.318                     | 31.643 | 224 |   | 12/31/2011 | 29.023 | 30.232 | 63 |
| 12/31/2012                                            | 31.643                     | 31.837 | 222 |   | 12/31/2012 | 30.232 | 30.356 | 75 |
| Jennison Portfolio                                    |
| 12/31/2010                                            | N/A                        | 10.461 | 0 |   | 12/31/2010 | N/A | 10.447 | 0 |
| 12/31/2011                                            | 10.461                     | 10.323 | 0 |   | 12/31/2011 | 10.447 | 10.288 | 0 |
| 12/31/2012                                            | 10.323                     | 11.797 | 1 |   | 12/31/2012 | 10.288 | 11.734 | 0 |
| Mutual Shares Securities Fund                         |
| 12/31/2007                                            | N/A                        | 24.555 | 1600 |   | 12/31/2007 | N/A | 24.013 | 537 |
| 12/31/2008                                            | 24.555                     | 15.251 | 1197 |   | 12/31/2008 | 24.013 | 14.885 | 381 |
| 12/31/2009                                            | 15.251                     | 18.985 | 765 |   | 12/31/2009 | 14.885 | 18.492 | 235 |
| 12/31/2010                                            | 18.985                     | 20.848 | 705 |   | 12/31/2010 | 18.492 | 20.266 | 194 |
| 12/31/2011                                            | 20.848                     | 20.375 | 427 |   | 12/31/2011 | 20.266 | 19.767 | 118 |
| 12/31/2012                                            | 20.375                     | 22.986 | 787 |   | 12/31/2012 | 19.767 | 22.255 | 247 |
| Oppenheimer Global Securities Fund/VA                 |
| 12/31/2007                                            | N/A                        | N/A | N/A |   | 12/31/2007 | N/A | N/A | N/A |
| 12/31/2008                                            | N/A                        | N/A | N/A |   | 12/31/2008 | N/A | N/A | N/A |
| 12/31/2009                                            | N/A                        | N/A | N/A |   | 12/31/2009 | N/A | N/A | N/A |
| 12/31/2010                                            | N/A                        | N/A | N/A |   | 12/31/2010 | N/A | N/A | N/A |
| 12/31/2011                                            | N/A                        | N/A | N/A |   | 12/31/2011 | N/A | N/A | N/A |
| 12/31/2012                                            | N/A                        | N/A | N/A |   | 12/31/2012 | N/A | N/A | N/A |
| Oppenheimer Global Strategic Income Fund/VA           |
| 12/31/2007                                            | N/A                        | 13.145 | 2 |   | 12/31/2007 | N/A | 12.939 | 0 |
| 12/31/2008                                            | 13.145                     | 2.769 | 1 |   | 12/31/2008 | 12.939 | 2.720 | 0 |
| 12/31/2009                                            | 2.769                      | 3.427 | 1 |   | 12/31/2009 | 2.720 | 3.359 | 2 |
| 12/31/2010                                            | 3.427                      | 3.855 | 1 |   | 12/31/2010 | 3.359 | 3.801 | 1 |
| 12/31/2011                                            | 3.855                      | 3.748 | 0 |   | 12/31/2011 | 3.801 | 3.659 | 4 |
| 12/31/2012                                            | 3.748                      | 28.098 | 1 |   | 12/31/2012 | 3.659 | 27.013 | 0 |
| Oppenheimer Main Street Fund/VA                       |
| 12/31/2007                                            | N/A                        | N/A | N/A |   | 12/31/2007 | N/A | N/A | N/A |
| 12/31/2008                                            | N/A                        | N/A | N/A |   | 12/31/2008 | N/A | N/A | N/A |
| 12/31/2009                                            | N/A                        | N/A | N/A |   | 12/31/2009 | N/A | N/A | N/A |
| 12/31/2010                                            | N/A                        | N/A | N/A |   | 12/31/2010 | N/A | N/A | N/A |
| 12/31/2011                                            | N/A                        | N/A | N/A |   | 12/31/2011 | N/A | N/A | N/A |
| 12/31/2012                                            | N/A                        | N/A | N/A |   | 12/31/2012 | N/A | N/A | N/A |
| PIMCO EqS Pathfinder Portfolio                        |
| 12/31/2010                                            | N/A                        | 10.348 | 5 |   | 12/31/2010 | N/A | 10.334 | 0 |
| 12/31/2011                                            | 10.348                     | 9.737 | 638 |   | 12/31/2011 | 10.334 | 9.705 | 181 |
| 12/31/2012                                            | 9.737                      | 10.555 | 953 |   | 12/31/2012 | 9.705 | 10.499 | 315 |
| PIMCO VIT All Asset Portfolio                         |
| 12/31/2007                                            | N/A                        | 13.024 | 110 |   | 12/31/2007 | N/A | 12.929 | 17 |
| 12/31/2008                                            | 13.024                     | 10.824 | 155 |   | 12/31/2008 | 12.929 | 10.724 | 92 |
| 12/31/2009                                            | 10.824                     | 12.996 | 217 |   | 12/31/2009 | 10.724 | 12.849 | 89 |
| 12/31/2010                                            | 12.996                     | 14.515 | 224 |   | 12/31/2010 | 12.849 | 14.322 | 181 |
| 12/31/2011                                            | 14.515                     | 14.615 | 189 |   | 12/31/2011 | 14.322 | 14.393 | 156 |
| 12/31/2012                                            | 14.615                     | 16.590 | 256 |   | 12/31/2012 | 14.393 | 16.304 | 207 |

----

| M&E Charge 1.25%                             | M&E Charge 1.45%       |
|--------------------------------------------------|----------------------------|
| Period or Year Ended                             | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |   | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
| PIMCO VIT CommodityRealReturn Strategy Portfolio |
| 12/31/2007                                       | N/A                        | 12.867 | 228 |   | 12/31/2007 | N/A | 12.799 | 30 |
| 12/31/2008                                       | 12.867                     | 7.143 | 374 |   | 12/31/2008 | 12.799 | 7.090 | 116 |
| 12/31/2009                                       | 7.143                      | 9.983 | 472 |   | 12/31/2009 | 7.090 | 9.890 | 133 |
| 12/31/2010                                       | 9.983                      | 12.277 | 443 |   | 12/31/2010 | 9.890 | 12.138 | 127 |
| 12/31/2011                                       | 12.277                     | 11.208 | 276 |   | 12/31/2011 | 12.138 | 11.060 | 87 |
| 12/31/2012                                       | 11.208                     | 11.665 | 298 |   | 12/31/2012 | 11.060 | 11.487 | 103 |
| PIMCO VIT Emerging Markets Bond Portfolio        |
| 12/31/2007                                       | N/A                        | 12.336 | 91 |   | 12/31/2007 | N/A | 12.270 | 24 |
| 12/31/2008                                       | 12.336                     | 10.405 | 88 |   | 12/31/2008 | 12.270 | 10.328 | 27 |
| 12/31/2009                                       | 10.405                     | 13.418 | 126 |   | 12/31/2009 | 10.328 | 13.293 | 24 |
| 12/31/2010                                       | 13.418                     | 14.864 | 133 |   | 12/31/2010 | 13.293 | 14.696 | 48 |
| 12/31/2011                                       | 14.864                     | 15.609 | 62 |   | 12/31/2011 | 14.696 | 15.402 | 39 |
| 12/31/2012                                       | 15.609                     | 18.174 | 92 |   | 12/31/2012 | 15.402 | 17.897 | 54 |
| PIMCO VIT Global Bond Portfolio (Unhedged)       |
| 12/31/2007                                       | N/A                        | 10.482 | 145 |   | 12/31/2007 | N/A | 10.426 | 38 |
| 12/31/2008                                       | 10.482                     | 10.264 | 262 |   | 12/31/2008 | 10.426 | 10.189 | 116 |
| 12/31/2009                                       | 10.264                     | 11.846 | 283 |   | 12/31/2009 | 10.189 | 11.736 | 105 |
| 12/31/2010                                       | 11.846                     | 13.063 | 274 |   | 12/31/2010 | 11.736 | 12.916 | 142 |
| 12/31/2011                                       | 13.063                     | 13.878 | 257 |   | 12/31/2011 | 12.916 | 13.694 | 124 |
| 12/31/2012                                       | 13.878                     | 14.657 | 257 |   | 12/31/2012 | 13.694 | 14.434 | 161 |
| PIMCO VIT High Yield Portfolio                   |
| 12/31/2007                                       | N/A                        | 14.468 | 107 |   | 12/31/2007 | N/A | 14.241 | 38 |
| 12/31/2008                                       | 14.468                     | 10.925 | 170 |   | 12/31/2008 | 14.241 | 10.731 | 27 |
| 12/31/2009                                       | 10.925                     | 15.151 | 184 |   | 12/31/2009 | 10.731 | 14.853 | 69 |
| 12/31/2010                                       | 15.151                     | 17.133 | 216 |   | 12/31/2010 | 14.853 | 16.763 | 78 |
| 12/31/2011                                       | 17.133                     | 17.490 | 144 |   | 12/31/2011 | 16.763 | 17.078 | 70 |
| 12/31/2012                                       | 17.490                     | 19.746 | 145 |   | 12/31/2012 | 17.078 | 19.242 | 81 |
| PIMCO VIT Real Return Portfolio                  |
| 12/31/2007                                       | N/A                        | 12.411 | 245 |   | 12/31/2007 | N/A | 12.295 | 63 |
| 12/31/2008                                       | 12.411                     | 11.392 | 307 |   | 12/31/2008 | 12.295 | 11.263 | 200 |
| 12/31/2009                                       | 11.392                     | 13.319 | 543 |   | 12/31/2009 | 11.263 | 13.143 | 235 |
| 12/31/2010                                       | 13.319                     | 14.221 | 449 |   | 12/31/2010 | 13.143 | 14.004 | 230 |
| 12/31/2011                                       | 14.221                     | 15.685 | 420 |   | 12/31/2011 | 14.004 | 15.415 | 178 |
| 12/31/2012                                       | 15.685                     | 16.846 | 389 |   | 12/31/2012 | 15.415 | 16.523 | 243 |
| PIMCO VIT Total Return Portfolio                 |
| 12/31/2007                                       | N/A                        | 15.165 | 472 |   | 12/31/2007 | N/A | 14.926 | 198 |
| 12/31/2008                                       | 15.165                     | 15.695 | 551 |   | 12/31/2008 | 14.926 | 15.417 | 253 |
| 12/31/2009                                       | 15.695                     | 17.681 | 963 |   | 12/31/2009 | 15.417 | 17.333 | 368 |
| 12/31/2010                                       | 17.681                     | 18.879 | 880 |   | 12/31/2010 | 17.333 | 18.471 | 326 |
| 12/31/2011                                       | 18.879                     | 19.318 | 601 |   | 12/31/2011 | 18.471 | 18.863 | 246 |
| 12/31/2012                                       | 19.318                     | 20.909 | 731 |   | 12/31/2012 | 18.863 | 20.375 | 353 |
| SP International Growth Portfolio                |
| 12/31/2007                                       | N/A                        | 10.295 | 6 |   | 12/31/2007 | N/A | 10.151 | 0 |
| 12/31/2008                                       | 10.295                     | 5.034 | 1 |   | 12/31/2008 | 10.151 | 4.953 | 0 |
| 12/31/2009                                       | 5.034                      | 6.783 | 1 |   | 12/31/2009 | 4.953 | 6.661 | 0 |
| 12/31/2010                                       | 6.783                      | 7.624 | 1 |   | 12/31/2010 | 6.661 | 7.472 | 0 |
| 12/31/2011                                       | 7.624                      | 6.376 | 1 |   | 12/31/2011 | 7.472 | 6.237 | 0 |
| 12/31/2012                                       | 6.376                      | 7.673 | 4 |   | 12/31/2012 | 6.237 | 7.490 | 0 |
| Templeton Foreign Securities Fund                |
| 12/31/2007                                       | N/A                        | 32.972 | 45 |   | 12/31/2007 | N/A | 31.937 | 16 |
| 12/31/2008                                       | 32.972                     | 19.414 | 28 |   | 12/31/2008 | 31.937 | 18.767 | 10 |
| 12/31/2009                                       | 19.414                     | 26.274 | 7 |   | 12/31/2009 | 18.767 | 25.348 | 3 |
| 12/31/2010                                       | 26.274                     | 28.129 | 6 |   | 12/31/2010 | 25.348 | 27.083 | 3 |
| 12/31/2011                                       | 28.129                     | 24.827 | 4 |   | 12/31/2011 | 27.083 | 23.856 | 2 |
| 12/31/2012                                       | 24.827                     | 28.987 | 12 |   | 12/31/2012 | 23.856 | 27.797 | 5 |

----

| M&E Charge 1.25%                  | M&E Charge 1.45%       |
|---------------------------------------|----------------------------|
| Period or Year Ended                  | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |   | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
| Templeton Global Bond Securities Fund |
| 12/31/2007                            | N/A                        | 33.276 | 110 |   | 12/31/2007 | N/A | 32.082 | 34 |
| 12/31/2008                            | 33.276                     | 34.901 | 105 |   | 12/31/2008 | 32.082 | 33.581 | 41 |
| 12/31/2009                            | 34.901                     | 40.906 | 146 |   | 12/31/2009 | 33.581 | 39.281 | 42 |
| 12/31/2010                            | 40.906                     | 46.235 | 152 |   | 12/31/2010 | 39.281 | 44.309 | 42 |
| 12/31/2011                            | 46.235                     | 45.264 | 119 |   | 12/31/2011 | 44.309 | 43.293 | 31 |
| 12/31/2012                            | 45.264                     | 51.433 | 124 |   | 12/31/2012 | 43.293 | 49.094 | 40 |
| Templeton Growth Securities Fund      |
| 12/31/2007                            | N/A                        | 30.157 | 915 |   | 12/31/2007 | N/A | 29.335 | 301 |
| 12/31/2008                            | 30.157                     | 17.177 | 658 |   | 12/31/2008 | 29.335 | 16.676 | 234 |
| 12/31/2009                            | 17.177                     | 22.240 | 379 |   | 12/31/2009 | 16.676 | 21.547 | 128 |
| 12/31/2010                            | 22.240                     | 23.587 | 292 |   | 12/31/2010 | 21.547 | 22.807 | 102 |
| 12/31/2011                            | 23.587                     | 21.670 | 170 |   | 12/31/2011 | 22.807 | 20.912 | 64 |
| 12/31/2012                            | 21.670                     | 25.908 | 451 |   | 12/31/2012 | 20.912 | 24.951 | 155 |

----

|   | APPENDIX B – GMIB VALUE CALCULATION EXAMPLES |
|--------|----------------------------------------------------|

| · | You purchased a February 2007 Contract with the Living Guarantees and made an initial Purchase Payment of $100,000. All Owners are age 55 or younger on the Issue Date. You make no additional Purchase Payments. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The MAV on the fifth Contract Anniversary is $120,000. |
|--------|--------------------------------------------------------|

| · | The MAV on the seventh Contract Anniversary is $150,000. |
|--------|----------------------------------------------------------|

| · | You take a partial withdrawal of $20,000 (including the withdrawal charge) in the eighth Contract Year when the Contract Value on the date of (but before) the partial withdrawal is $160,000. The withdrawal charge period on the initial Purchase Payment has expired, so there is no withdrawal charge on this partial withdrawal. There is no MVA at the time of the partial withdrawal. You take no other partial withdrawals. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The Contract Value on the eighth Contract Anniversary is $110,000. |
|--------|--------------------------------------------------------------------|

| · | The MAV on the tenth Contract Anniversary is $180,000. |
|--------|--------------------------------------------------------|

| · | The MAV on the fifteenth Contract Anniversary is $230,000. |
|--------|------------------------------------------------------------|

| 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):                                                                                                                                                                                                                                 |   |
|                                                           | a)                                                                                                                                                                                                                                                                     | one, or |   |
|                                                           | b)                                                                                                                                                                                                                                                                     | 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 |

|                                                         | GMIB Payments under… |
|--------------------------------------------------------------|----------------------------|
| Your Income Date is within 30 daysafter Contract Anniversary | GMIB Value                 | Option 1 Life Annuity | Option 2 Life Annuity w/ 10 years | Option 3 Joint & 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 |

|   |   |
|--------|--------|

----

|   | APPENDIX C – GAV CALCULATION EXAMPLE |
|--------|--------------------------------------------|

| · | You purchased a February 2007 Contract with Living Guarantees. You made only one initial Purchase Payment of $100,000. You make no additional Purchase Payments, therefore, the calculations of the GAV that follows will not include reference to additional Purchase Payments. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The Contract Value on the first Contract Anniversary is $120,000; on the second Contract Anniversary it is $135,000; on the third Contract Anniversary it is $150,000; and on the fourth Contract Anniversary it is $135,000. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | You take a partial withdrawal of $20,000 (including the withdrawal charge) in the fourth Contract Year when the Contract Value on the date of (but before) the partial withdrawal is $160,000. There is no MVA at the time of the partial withdrawal. You take no other partial withdrawals. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| The initial GAV…………………………………………………………………………………………………………………. | $100,000                                                                                                                                                                                                                                  |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| The GAV on the first Contract Anniversary equals the greater of A or B:                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                      |
|                                                                                                                                                                                                                                                                                                                          | (A)                                                                                                                                                                                                                                       | the initial GAV = $100,000 |   |
|                                                                                                                                                                                                                                                                                                                          | (B)                                                                                                                                                                                                                                       | the Contract Value on the first Contract Anniversary = $120,000 |   |
| The GAV on the first Contract Anniversary…………………………………………………………………………............                                                                     | $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 |   |
|                                                                                                                                                                                                                                                                                                                          | (D)                                                                                                                                                                                                                                       | the Contract Value on the second Contract Anniversary = $135,000 |   |
| The GAV on the second Contract Anniversary……………………………………………………………………………..                                                                       | $135,000                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                      |
| The GAV on the third Contract Anniversary equals the greater of C or D:                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                      |
|                                                                                                                                                                                                                                                                                                                          | (C)                                                                                                                                                                                                                                       | the GAV from the second Contract Anniversary = $135,000 |   |
|                                                                                                                                                                                                                                                                                                                          | (D)                                                                                                                                                                                                                                       | the Contract Value on the third Contract Anniversary = $150,000 |   |
| The GAV on the third Contract Anniversary…………………………………………………………………………………                                                            | $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) = 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)                                                                                                                                                                                                                                       | = one, or |   |   |
|                                                                                                                                                                                                                                                                                                                          | (b)                                                                                                                                                                                                                                       | the GAV divided by the Contract Value on the date of (but before) the partial withdrawal = |   |   |
|                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                      | $150,000/$160,000 = 0.94……………………………………………………………………………….. | x 1) |   |
|                                                                                                                                                                                                                                                                                                                          | 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 |   |
|                                                                                                                                                                                                                                                                                                                          | (D)                                                                                                                                                                                                                                       | the Contract Value on the fourth Contract Anniversary = $135,000 |   |
| The GAV on the fourth Contract Anniversary                                                                                                                                                                                                                                                                                    | $135,000                                                                                                                                                                                                                                  |

----

| · | On the fifth Contract Anniversary, the Contract Value is $105,000. The initial GAV is $100,000. We subtract all the GAV adjusted partial withdrawals taken in the last five years ($20,000), for a total of $80,000. The fifth anniversary Contract Value is greater than the initial GAV adjusted for the partial withdrawal taken in the fourth year, so there is no True Up on the fifth Contract Anniversary. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | On the sixth Contract Anniversary, the Contract Value is $108,000. The GAV established five years ago on the first Contract Anniversary is $120,000. We subtract all the GAV adjusted partial withdrawals taken in the last five years ($20,000), for a total of $100,000. The sixth anniversary Contract Value is greater than the GAV from the first Contract Anniversary adjusted for the partial withdrawal taken in the fourth year, so there is no True Up on the sixth Contract Anniversary. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | On the seventh Contract Anniversary, the Contract Value is $110,000. The GAV established five years ago on the second Contract Anniversary is $135,000. We subtract all the GAV adjusted partial withdrawals taken in the last five years ($20,000), for a total of $115,000. The seventh Anniversary Contract Value is less than the GAV from the second Contract Anniversary adjusted for the partial withdrawal taken in the fourth year, so we will True Up the Contract Value to equal this amount by applying $5,000 to the Investment Options on the seventh Contract Anniversary. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                     | Contract Value | GAV      | Contract Value guaranteed under the GAV Benefit (does not apply until the 5th Contract Anniversary) | Amount of GAV True Up (does not apply until the 5th Contract Anniversary) | Contract Value after GAVTrue Up |
|--------------------------|----------------|----------|-----------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------|---------------------------------|
| Initial                  | $100,000       | $100,000 | –                                                                                             | –                                                                   | –                         |
| 1st Contract Anniversary | $120,000       | $120,000 | –                                                                                             | –                                                                   | –                         |
| 2nd Contract Anniversary | $135,000       | $135,000 | –                                                                                             | –                                                                   | –                         |
| 3rd Contract Anniversary | $150,000       | $150,000 | –                                                                                             | –                                                                   | –                         |
| 4th Contract Anniversary | $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                        |

----

|   | APPENDIX D – DEATH BENEFIT CALCULATION EXAMPLES |
|--------|-------------------------------------------------------|

| · | You purchased a February 2007 Contract with an initial Purchase Payment of $100,000. You chose not to include the Living Guarantees and you allocated your entire Purchase Payment to the Investment Options. You are the only Owner and are age 69 or younger on the Issue Date. You make no additional Purchase Payments. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | You take a partial withdrawal of $20,000 in the tenth Contract Year when the Contract Value on the date of (but before the partial withdrawal) is $160,000. The withdrawal charge period on the initial Purchase Payment has expired so there is no withdrawal charge on this partial withdrawal. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The Contract Value on the tenth Contract Anniversary is $140,000. |
|--------|-------------------------------------------------------------------|

| If you selected Traditional GMDB:                                                                         |                                                                                                                                                                                                                                                                                               |
|-----------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| We calculate the death benefit on the tenth Contract Anniversary as the greater of:                       |                                                                                                                                                                                                                                                                                               |
| 1)                                                                                                        | Contract Value………………………………………………………………………………………………………... | $140,000 |
| 2)                                                                                                        | The Traditional GMDB value:                                                                                                                                                                                                                                                                        |   |
|                                                                                                      | Total Purchase Payments received…………………………………………………………………………………                                          | $100,000 |
|                                                                                                      |                                                                                                                                                                                                                                                                                               | Reduced by the GMDB adjusted partial withdrawal………………………………………………………….. | – 20,000 |
|                                                                                                      |                                                                                                                                                                                                                                                                                               | $80,000 |
| The GMDB adjusted partial withdrawal for (2) 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 = $160,000 / $160,000 = 1……….……. | x 1 |   |
|                                                                                                      | Total GMDB adjusted partial withdrawal……………………………………………………….……                                                                                           | $20,000 |   |
| Therefore, the death benefit payable as of the tenth Contract Anniversary is the $140,000 Contract Value. |

| If you selected Enhanced GMDB:                                                           |
|------------------------------------------------------------------------------------------|
| The following details how we calculate the MAV on the first nine Contract Anniversaries: |
|                                                                                     |   |
|                                                                                     | Contract Value | MAV |
| 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 |

----

| · | On the Issue Date, the MAV is equal to total Purchase Payments ($100,000). |
|--------|----------------------------------------------------------------------------|

| · | On the first Contract Anniversary the Contract Value is $110,000, which is greater than the MAV from the immediately preceding Business Day ($100,000), so the MAV increases to $110,000. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | On the second Contract Anniversary the Contract Value is $118,000, which is greater than the MAV from the immediately preceding Business Day ($110,000), so the MAV increases to $118,000. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | On the third Contract Anniversary the Contract Value is $116,000, which is less than the MAV from the immediately preceding Business Day ($118,000), so the MAV does not change. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | On the fourth Contract Anniversary the Contract Value is $122,000, which is greater than the MAV from the immediately preceding Business Day ($118,000), so the MAV increases to $122,000. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | On the fifth Contract Anniversary the Contract Value is $120,000, which is less than the MAV from the immediately preceding Business Day ($122,000), so the MAV does not change. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | On the sixth, seventh, eighth and ninth Contract Anniversaries the Contract Value is greater than the MAV from the immediately preceding Business Day, so the MAV increases to equal the Contract Value. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| We calculate the death benefit on the tenth Contract Anniversary as the greater of:            |                                                                                                                                                                                                                                                                                               |
|------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1)                                                                                             | Contract Value………………………………………………………………………………………………………... | $140,000 |
| 2)                                                                                             | The Traditional GMDB value:                                                                                                                                                                                                                                                                        |   |
|                                                                                           | Total Purchase Payments received…………………………………………………………………………………                                          | $100,000 |
|                                                                                           |                                                                                                                                                                                                                                                                                               | Reduced by the GMDB adjusted partial withdrawal………………………………………………………….. | – 20,250 |
|                                                                                           |                                                                                                                                                                                                                                                                                               | $79,750 |
| 3)                                                                                             | The Enhanced GMDB value:                                                                                                                                                                                                                                                                           |   |
|                                                                                           | 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 date of (but before) the partial withdrawal = $162,000 / $160,000 = 1.0125……. | x 1.0125 |   |
|                                                                                           | Total GMDB adjusted partial withdrawal…………………………………………………………….                                                                                           | $20,250 |   |
| Therefore, the death benefit payable as of the tenth Contract Anniversary is the $141,750 MAV. |

----

|   | APPENDIX E – THE ORIGINAL CONTRACT |
|--------|------------------------------------------|

| · | No restrictions on allocations of Purchase Payments to the FPAs. |
|--------|------------------------------------------------------------------|

| · | Annuity Option 6 was available for fixed and/or variable Annuity Payments. |
|--------|----------------------------------------------------------------------------|

| · | If an Owner requests variable Annuity Payments under Annuity Option 2, 4, or 6 they can also take money out of the Contract during the Annuity Phase (take a liquidation). |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Liquidations during the Annuity Phase under Annuity Option 2 or 4 were subject to a commutation fee. |
|--------|------------------------------------------------------------------------------------------------------|

| · | Liquidations under Annuity Option 6 were subject to a withdrawal charge. |
|--------|--------------------------------------------------------------------------|

| · | There was no minimum or maximum on MVAs for partial transfers or partial withdrawals from the FPAs and the FPA guaranteed minimum value applied only upon a complete transfer or full withdrawal from the FPAs. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The formula for the FPA guaranteed minimum value was different (please see the discussion that follows). |
|--------|----------------------------------------------------------------------------------------------------------|

| · | The GWB was immediately available for exercise. |
|--------|-------------------------------------------------|

| · | The GWB terminated upon the earliest of Contract termination or the Income Date. |
|--------|----------------------------------------------------------------------------------|

| · | The formula for all GMIB adjusted partial withdrawals was the same as the formula for GMIB adjusted partial withdrawals taken on or after the second Contract Anniversary for the Contract we currently offer (please see section 3, The Annuity Phase – GMIB Adjusted Partial Withdrawals). |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The formula for GAV adjusted partial withdrawals was the same as the formula for GAV adjusted partial withdrawals taken on or after the second Contract Anniversary for the Contract we currently offer (please see section 6, Guaranteed Account Value (GAV) Benefit – Calculating the GAV). |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The formula for GWB adjusted partial withdrawals was the same as the formula for GWB adjusted partial withdrawals taken on or after the second Contract Anniversary for the Contract we currently offer (please see section 9, Access to Your Money – Guaranteed Withdrawal Benefit (GWB)). |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The formula for GMDB adjusted partial withdrawals was different (please see the discussion that follows). |
|--------|-----------------------------------------------------------------------------------------------------------|

| · | The mortality and expense risk (M&E) charge for the Original Contract issued before June 22, 2007 is greater than the M&E charge for the Original Contract issued on or after June 22, 2007 and for the February 2007 Contract, as discussed in the Fee Tables and section 7, Expenses. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (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). |

----

| Number of Complete Years Since Income Date | Charge |
|--------------------------------------------|--------|
| 5                                          | 4%     |
| 6                                          | 3%     |
| 7                                          | 2%     |
| 8 years or more                            | 1%     |

| Number of Complete Years Since Receipt of Purchase Payment | Charge |
|------------------------------------------------------------|--------|
| 0                                                          | 8%     |
| 1                                                          | 8%     |
| 2                                                          | 7%     |
| 3                                                          | 6%     |
| 4                                                          | 5%     |
| 5                                                          | 4%     |
| 6                                                          | 3%     |
| 7 years or more                                            | 0%     |

| 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 (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. |

----

|   | APPENDIX F – WITHDRAWAL CHARGE EXAMPLES |
|--------|-----------------------------------------------|

|   | Full withdrawal when the Contract Value has declined due to a loss in your selected Investment Options: |
|--------|---------------------------------------------------------------------------------------------------------|

| · | You take a full withdrawal in the third Contract Year when the Contract Value is $90,000 and the withdrawal charge is 7%. You have taken no other withdrawals from the Contract. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | There are no Purchase Payments that are beyond the withdrawal charge period and the partial withdrawal privilege does not apply upon a full withdrawal. Because this is a full withdrawal, we assess the withdrawal charge against the entire Withdrawal Charge Basis. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| We calculate the withdrawal charge as follows: |                                                                                                                                                                                                                                                                    |
|------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                           | The Withdrawal Charge Basis is equal to total Purchase Payments, less any Purchase Payments withdrawn                                                                                                                                                                   |   |
|                                           | (excluding any penalty-free withdrawals), less any withdrawal charge = $100,000 – $0 – $0 =..……….………...                                                                                                                 | $100,000 |
|                                           | Multiplied by the withdrawal charge…………………………………………………………………………………….... | x  7% |
|                                           |                                                                                                                                                                                                                                                                    | $7,000 |

|   | Partial withdrawal under the partial withdrawal privilege followed by a full withdrawal: |
|--------|------------------------------------------------------------------------------------------|

| · | You take a partial withdrawal of $9,000 in the third Contract Year. The total amount available under the partial withdrawal privilege at this time is $12,000. The $9,000 withdrawn is not subject to a withdrawal charge and does not reduce the Withdrawal Charge Basis. The partial withdrawal reduces the total amount available under the GWB by $9,000. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | You take a full withdrawal in the fourth Contract Year when the Contract Value is $90,000 and the withdrawal charge is 6%. At this time, there are no Purchase Payments that are beyond the withdrawal charge period. Because this is a full withdrawal, the partial withdrawal privilege does not apply and we assess the withdrawal charge against the entire Withdrawal Charge Basis. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| We calculate the withdrawal charge for the full withdrawal as follows: |                                                                                                                                                                                                                                                                    |
|------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                   | The Withdrawal Charge Basis is equal to total Purchase Payments, less any Purchase Payments withdrawn                                                                                                                                                                   |   |
|                                                                   | (excluding any penalty-free withdrawals), less any withdrawal charge = $100,000 – $0 – $0 =..……….………..                                                                                                                  | $100,000 |
|                                                                   | Multiplied by the withdrawal charge…………………………………………………………………………………..….. | x  6% |
|                                                                   |                                                                                                                                                                                                                                                                    | $6,000 |

----

|   | Partial withdrawal in excess of the partial withdrawal privilege followed by a full withdrawal: |
|--------|-------------------------------------------------------------------------------------------------|

| · | You take a partial withdrawal of $15,000 in the third Contract Year when the withdrawal charge is 7%. The total amount available under the partial withdrawal privilege at this time is $12,000, so $3,000 of the withdrawal is subject to a withdrawal charge and reduces the Withdrawal Charge Basis. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| We calculate the withdrawal charge for the partial withdrawal as follows: |                                                                                                                                                                                                                                                                           |
|---------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                      | The amount you receive that is subject to a withdrawal charge…………………………………………….                                                                                          | $3,000 |
|                                                                      | Divided by (1 minus the withdrawal charge percentage)…………………………………………………………                                                                | ¸ 0.93 |
|                                                                      | Total amount withdrawn……………………………………………………………………………………………... | $3,226 |
|                                                                      | Total withdrawal charge (amount withdrawn minus the amount requested) = $3,226 – $3,000 …………...                                                                                                                                                  | $226 |

| · | Continuing the example, assume you take a full withdrawal in the fourth Contract Year when the Contract Value is $90,000 and the withdrawal charge is 6%. At this time there are no Purchase Payments that are beyond the withdrawal charge period. Because this is a full withdrawal, the partial withdrawal privilege does not apply and we assess the withdrawal charge against the entire Withdrawal Charge Basis. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| We calculate the withdrawal charge for the full withdrawal as follows: |                                                                                                                                                                                                                                                                   |
|------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                   | The Withdrawal Charge Basis is equal to total Purchase Payments, less any Purchase Payments withdrawn                                                                                                                                                                  |   |
|                                                                   | (excluding any penalty-free withdrawals), less any withdrawal charge = $100,000 – $3,000  – $226 =…………                                                                                                                   | $96,774 |
|                                                                   | Multiplied by the withdrawal charge………………………………………………………………………………….….. | x  6% |
|                                                                   |                                                                                                                                                                                                                                                                   | $5,806 |

|   | A series of partial withdrawals under the partial withdrawal privilege followed by a full withdrawal: |
|--------|-------------------------------------------------------------------------------------------------------|

| · | You take the maximum amount available under the partial withdrawal privilege each year in the third, fourth, and fifth Contract Years (total distributions = $36,000). The $36,000 withdrawn is not subject to a withdrawal charge and does not reduce the Withdrawal Charge Basis. These partial withdrawals are guaranteed by the GWB, and reduce the GWB by $36,000. The total amount available under the GWB after these partial withdrawals is equal to |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | $100,000 – $36,000 = $64,000. |
|--------|-------------------------------------|

| · | In the sixth Contract Year, the Contract Value is $11,000 and the maximum amount available under the GWB is $12,000. If you withdraw $12,000 under the GWB in the sixth Contract Year, your Contract Value would drop to zero, but you could continue to take $12,000 each year for the next four years and then make a final withdrawal of $4,000 in the eleventh Contract Year without incurring a withdrawal charge. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | FOR SERVICE OR MORE INFORMATION |
|--------|---------------------------------|

|   | Public Reference Section of the Commission |
|--------|--------------------------------------------|

|   | 100 F Street, NE |
|--------|------------------|

|   | Washington, DC 20549 |
|--------|----------------------|

| Allianz Life Insurance Company of North America |
|-------------------------------------------------|
| P.O Box 561                                     |
| Minneapolis, MN 55440-0561                      |

| REGULAR MAIL                                    |
|-------------------------------------------------|
| Allianz Life Insurance Company of North America |
| NW5989                                          |
| P.O. Box 1450                                   |
| Minneapolis, MN 55485-5989                      |
|                                            |
| OVERNIGHT, CERTIFIED, OR REGISTERED MAIL        |
| Allianz Life Insurance Company of North America |
| NW5989                                          |
| 1801 Parkview Drive                             |
| Shoreview, MN 55126                             |

----

|   | PART B – SAI |
|--------|--------------------|

| Allianz Life……………………………………………………...........                   | 2  |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----|
| Experts………………………………………………………….…....…  | 2  |
| Legal Opinions……………………………………………………….                    | 2  |
| Distributor……………………………………………………….………. | 2  |
| Reduction or Elimination of the Withdrawal Charge………………..                                                                                         | 3  |
| Federal Tax Status…………………………………………..….…..                                 | 3  |
| General…………………………………………………………...…           | 3  |
| Diversification…………………………………………….…......….                          | 4  |
| Owner Control………………………………………………..….                                 | 5  |
| Contracts Owned by Non-Individuals……………………..…..                                                                                 | 5  |
| Income Tax Withholding………………………………..….......                                                            | 5  |
| Required Distributions…………………………………..………                                              | 5  |
| Qualified Contracts……………………………………………...                                         | 6  |
| Guaranteed Account Value (GAV) Transfers……………..…                                                                                                  | 7  |
| Annuity Provisions…………………………………………….........                                    | 14 |
| Annuity Units/Calculating Annuity Payments…………….….                                                                                                | 14 |
| Mortality and Expense Risk Guarantee………………………..….                                                                         | 14 |
| Financial Statements…………………………………..…..……….                                      | 14 |
| Appendix – Condensed Financial Information…...……..………..                                                                                     | 15 |

----

| Calendar Year | Aggregate Amount of Commissions Paid toAllianz Life Financial | Aggregate Amount of Commissions Retained by Allianz Life Financial After Payments to Selling Firms |
|---------------|---------------------------------------------------------------|----------------------------------------------------------------------------------------------------|
| 2010          | $220,761,073.60                                               | $0                                                                                                 |
| 2011          | $264,909,554.57                                               | $0                                                                                                 |
| 2012          | $256,459,224.79                                               | $0                                                                                                 |

----

| Firm Name                   |
|-----------------------------|
| LPL Financial Network       |
| The Advisor Group Network   |
| Wells Fargo Network         |
| National Planning Holdings  |
| HD Vest Investment Services |

| · | the size of the group; |
|--------|------------------------|

| · | the total amount of Purchase Payments expected to be received from the group; |
|--------|-------------------------------------------------------------------------------|

| · | the nature of the group for which the Contracts are purchased, and the persistency expected in that group (for example, the expectation that the Owners continue to hold the Contracts for a certain period of time); |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | the purpose for which the Contracts are purchased and whether that purpose makes it likely that expenses are reduced; and |
|--------|---------------------------------------------------------------------------------------------------------------------------|

| · | any other circumstances which we believe to be relevant to determining whether reduced sales or administrative expenses may be expected. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------|

----

| · | no more than 55% of the value of the total assets of the Investment Option is represented by any one investment; |
|--------|------------------------------------------------------------------------------------------------------------------|

| · | no more than 70% of the value of the total assets of the Investment Option is represented by any two investments; |
|--------|-------------------------------------------------------------------------------------------------------------------|

| · | no more than 80% of the value of the total assets of the Investment Option is represented by any three investments; and |
|--------|-------------------------------------------------------------------------------------------------------------------------|

| · | no more than 90% of the value of the total assets of the Investment Option is represented by any four investments. |
|--------|--------------------------------------------------------------------------------------------------------------------|

----

| · | a series of substantially equal payments made at least annually for the life or life expectancy of the participant or joint and last survivor expectancy of the participant and a designated Beneficiary, or for a specified period of ten years or more; or |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | distributions which are required minimum distributions; or |
|--------|------------------------------------------------------------|

| · | the portion of the distributions not included in gross income (for example, returns of after-tax contributions); or |
|--------|---------------------------------------------------------------------------------------------------------------------|

| · | hardship withdrawals. |
|--------|-----------------------|

| · | if any Owner dies on or after the Income Date, but before the time the entire interest in the Contract has been distributed, the entire interest in the Contract is distributed at least as rapidly as under the method of distribution being used as of the date of such Owner’s death; and |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | if any Owner dies before the Income Date, the entire interest in the Contract is distributed within five years after the date of such Owner’s death. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| 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                         |

| · | w is based upon a guarantee ratio, m, that we use to measure how "low" a Contract Value is relative to the GAV. |
|--------|-----------------------------------------------------------------------------------------------------------------|

| · | m is the ratio of (a) the difference of the GAV minus the Contract Value, and (b) the difference of the GAV minus the present value of the GAV, discounted for the time (in years) until the GAV becomes available, at the interest rate credited to the FPAs. In mathematical terms, m = (g – C) / [g – (g / (1 + r)t)]. The value of w and the corresponding guarantee ratio, m, are presented in Table 1 which appears later in this section. The values for w set forth in Table 1 are established on the Issue Date and are not changed for the life of the Contract. The values for w may change, however, for new Contracts issued in the future. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| · | Whether the allocation differs sufficiently from the allocation we previously computed according to a specified margin that is set on the issue date and cannot be changed for the life of the Contract. (You may contact our Service Center to find out the margin that applies to your Contract.) |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Whether a GAV Transfer would exceed the limit of 50% of Purchase Payments that exists in the first two Contract Years. |
|--------|------------------------------------------------------------------------------------------------------------------------|

| · | The number of transfers which have already occurred. |
|--------|------------------------------------------------------|

| · | At issue we compute d and use it as a baseline for comparison with allocations we compute on subsequent Business Days. |
|--------|------------------------------------------------------------------------------------------------------------------------|

| · | After issue, and before the first GAV Transfer to the FPAs, on each Business Day we compute d and execute a GAV Transfer to the FPAs if d is lower than the baseline by more than the specified margin. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | After issue, and after the first GAV Transfer to the FPAs has already occurred, on each Business Day we compute d and execute a GAV Transfer to the FPAs if d is lower than or higher than the baseline by the specified margin. If d is sufficiently below the baseline, the GAV Transfer is to the FPAs. If d is sufficiently above the baseline, the GAV Transfer is to the Investment Options. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | On the reset date, we compute d and use it as a baseline for comparison with allocations we compute on subsequent Business Days. |
|--------|----------------------------------------------------------------------------------------------------------------------------------|

| · | After the reset date, and before the first GAV Transfer to the FPAs that occurs after the reset date, on each Business Day we compute d and execute a GAV Transfer to the FPAs if d is lower than the baseline by more than the specified margin. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | After the reset date, and after the first GAV Transfer to the FPAs that occurs after the reset date, on each Business Day we compute d and execute a GAV Transfer to the FPAs if d is lower than or higher than the baseline by the specified margin. If d is sufficiently below the baseline, the GAV Transfer is to the FPAs. If d is sufficiently above the baseline, the GAV Transfer is to the Investment Options. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| · | The interest rate credited to the ten-year FPA is 3%. |
|--------|-------------------------------------------------------|

| · | The adjusted volatility of the Investment Options you selected is 16%. |
|--------|------------------------------------------------------------------------|

| · | The specified margin is 5%. |
|--------|-----------------------------|

| 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 |   |   |   |

----

| · | Whether you request fixed payments, variable payments, or a combination of both fixed and variable Traditional Annuity Payments. |
|--------|----------------------------------------------------------------------------------------------------------------------------------|

| · | The adjusted Contract Value (Contract Value adjusted for any MVA) on the Income Date. |
|--------|---------------------------------------------------------------------------------------|

| · | The Annuity Option you select. |
|--------|--------------------------------|

| · | The age of the Annuitant and any joint Annuitant. |
|--------|---------------------------------------------------|

| · | The sex of the Annuitant and any joint Annuitant where allowed. |
|--------|-----------------------------------------------------------------|

| · | multiply the Annuity Unit value for the immediately preceding Business Day by the net investment factor for the current Business Day; and |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------|

| · | divide by the assumed net investment factor for the current Business Day. |
|--------|---------------------------------------------------------------------------|

----

| Key to Benefit Option*                                                        | Separate Account Annual Expenses                                                                                   |
|-------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------|
| CON 1             | Allianz High Five – Original Contract issued before June 22, 2007 or May 2005 Contract with the GMDB…. | 1.40% |
| CON 2             | Allianz High Five – Original Contract issued before June 22, 2007 or May 2005 Contract with the GMDB…. | 1.60% |

| Benefit Option *  | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
|-------------------|----------------------|----------------------------|----------------------|-----------------------------------------------------------|
| Investment Option |

| AZL Balanced Index Strategy Fund        |
|-----------------------------------------|
| CON 1 1.40%                             |   |   |   |   |
|                                    | 12/31/2009 | N/A | 10.035 | 17 |
|                                    | 12/31/2010 | 10.035 | 10.934 | 8 |
|                                    | 12/31/2011 | 10.934 | 11.042 | 17 |
|                                    | 12/31/2012 | 11.042 | 12.008 | 37 |
| CON 2 1.60%                             |   |   |   |   |
|                                    | 12/31/2009 | N/A | 10.031 | 21 |
|                                    | 12/31/2010 | 10.031 | 10.908 | 9 |
|                                    | 12/31/2011 | 10.908 | 10.994 | 5 |
|                                    | 12/31/2012 | 10.994 | 11.932 | 21 |
| AZL BlackRock Capital Appreciation Fund |
| CON 1 1.40%                             |   |   |   |   |
|                                    | 12/31/2005 | N/A | 11.967 | 918 |
|                                    | 12/31/2006 | 11.967 | 11.987 | 742 |
|                                    | 12/31/2007 | 11.987 | 13.110 | 624 |
|                                    | 12/31/2008 | 13.110 | 8.225 | 147 |
|                                    | 12/31/2009 | 8.225 | 10.987 | 708 |
|                                    | 12/31/2010 | 10.987 | 12.914 | 472 |
|                                    | 12/31/2011 | 12.914 | 11.575 | 268 |
|                                    | 12/31/2012 | 11.575 | 12.980 | 901 |
| CON 2 1.60%                             |   |   |   |   |
|                                    | 12/31/2005 | N/A | 11.951 | 318 |
|                                    | 12/31/2006 | 11.951 | 11.947 | 478 |
|                                    | 12/31/2007 | 11.947 | 13.040 | 327 |
|                                    | 12/31/2008 | 13.040 | 8.165 | 85 |
|                                    | 12/31/2009 | 8.165 | 10.885 | 357 |
|                                    | 12/31/2010 | 10.885 | 12.768 | 251 |
|                                    | 12/31/2011 | 12.768 | 11.421 | 165 |
|                                    | 12/31/2012 | 11.421 | 12.782 | 550 |
|                                    |   |   |   |   |
| AZL Columbia Mid Cap Value Fund         |
| CON 1 1.40%                             |   |   |   |   |
|                                    | 12/31/2006 | N/A | 10.077 | 332 |
|                                    | 12/31/2007 | 10.077 | 10.319 | 390 |
|                                    | 12/31/2008 | 10.319 | 4.869 | 86 |
|                                    | 12/31/2009 | 4.869 | 6.352 | 143 |
|                                    | 12/31/2010 | 6.352 | 7.683 | 129 |
|                                    | 12/31/2011 | 7.683 | 7.306 | 63 |
|                                    | 12/31/2012 | 7.306 | 8.359 | 187 |
| CON 2 1.60%                             |   |   |   |   |
|                                    | 12/31/2006 | N/A | 10.063 | 99 |
|                                    | 12/31/2007 | 10.063 | 10.284 | 169 |
|                                    | 12/31/2008 | 10.284 | 4.843 | 59 |
|                                    | 12/31/2009 | 4.843 | 6.305 | 57 |
|                                    | 12/31/2010 | 6.305 | 7.611 | 45 |
|                                    | 12/31/2011 | 7.611 | 7.224 | 26 |
|                                    | 12/31/2012 | 7.224 | 8.248 | 78 |
| AZL Columbia Small Cap Value Fund       |
| CON 1 1.40%                             |   |   |   |   |
|                                    | 12/31/2004 | N/A | 12.058 | 583 |
|                                    | 12/31/2005 | 12.058 | 12.294 | 1044 |
|                                    | 12/31/2006 | 12.294 | 13.748 | 1023 |
|                                    | 12/31/2007 | 13.748 | 12.439 | 676 |
|                                    | 12/31/2008 | 12.439 | 8.330 | 153 |
|                                    | 12/31/2009 | 8.330 | 10.243 | 99 |
|                                    | 12/31/2010 | 10.243 | 12.719 | 78 |
|                                    | 12/31/2011 | 12.719 | 11.764 | 46 |
|                                    | 12/31/2012 | 11.764 | 12.891 | 172 |

----

| Benefit Option *  | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
|-------------------|----------------------|----------------------------|----------------------|-----------------------------------------------------------|
| Investment Option |

| CON 2 1.60%                           |       |   |   |   |
|---------------------------------------|------------|--------|--------|--------|
|                                  | 12/31/2004 | N/A    | 12.042 | 373    |
|                                  | 12/31/2005 | 12.042 | 12.253 | 533    |
|                                  | 12/31/2006 | 12.253 | 13.675 | 574    |
|                                  | 12/31/2007 | 13.675 | 12.348 | 338    |
|                                  | 12/31/2008 | 12.348 | 8.253  | 71     |
|                                  | 12/31/2009 | 8.253  | 10.127 | 42     |
|                                  | 12/31/2010 | 10.127 | 12.551 | 43     |
|                                  | 12/31/2011 | 12.551 | 11.584 | 27     |
|                                  | 12/31/2012 | 11.584 | 12.669 | 87     |
| AZL Davis New York Venture Fund       |
| CON 1 1.40%                           |       |   |   |   |
|                                  | 12/31/2003 | N/A    | 9.965  | 366    |
|                                  | 12/31/2004 | 9.965  | 10.864 | 3110   |
|                                  | 12/31/2005 | 10.864 | 11.750 | 5647   |
|                                  | 12/31/2006 | 11.750 | 13.199 | 6945   |
|                                  | 12/31/2007 | 13.199 | 13.555 | 5608   |
|                                  | 12/31/2008 | 13.555 | 7.952  | 1979   |
|                                  | 12/31/2009 | 7.952  | 10.338 | 1305   |
|                                  | 12/31/2010 | 10.338 | 11.422 | 772    |
|                                  | 12/31/2011 | 11.422 | 10.791 | 581    |
|                                  | 12/31/2012 | 10.791 | 11.951 | 2160   |
| CON 2 1.60%                           |       |   |   |   |
|                                  | 12/31/2003 | N/A    | 9.786  | 473    |
|                                  | 12/31/2004 | 9.786  | 10.647 | 2067   |
|                                  | 12/31/2005 | 10.647 | 11.493 | 3436   |
|                                  | 12/31/2006 | 11.493 | 12.884 | 4000   |
|                                  | 12/31/2007 | 12.884 | 13.205 | 3167   |
|                                  | 12/31/2008 | 13.205 | 7.732  | 1172   |
|                                  | 12/31/2009 | 7.732  | 10.031 | 747    |
|                                  | 12/31/2010 | 10.031 | 11.061 | 493    |
|                                  | 12/31/2011 | 11.061 | 10.429 | 422    |
|                                  | 12/31/2012 | 10.429 | 11.527 | 1478   |
| AZL Dreyfus Research Growth Fund      |
| CON 1 1.40%                           |       |   |   |   |
|                                  | 12/31/2003 | N/A    | 8.813  | 520    |
|                                  | 12/31/2004 | 8.813  | 9.361  | 1378   |
|                                  | 12/31/2005 | 9.361  | 9.652  | 1669   |
|                                  | 12/31/2006 | 9.652  | 10.749 | 2144   |
|                                  | 12/31/2007 | 10.749 | 11.526 | 3281   |
|                                  | 12/31/2008 | 11.526 | 6.634  | 645    |
|                                  | 12/31/2009 | 6.634  | 8.816  | 434    |
|                                  | 12/31/2010 | 8.816  | 10.686 | 329    |
|                                  | 12/31/2011 | 10.686 | 10.201 | 193    |
|                                  | 12/31/2012 | 10.201 | 11.844 | 624    |
| CON 2 1.60%                           |       |   |   |   |
|                                  | 12/31/2003 | N/A    | 8.550  | 362    |
|                                  | 12/31/2004 | 8.550  | 9.064  | 665    |
|                                  | 12/31/2005 | 9.064  | 9.327  | 811    |
|                                  | 12/31/2006 | 9.327  | 10.366 | 974    |
|                                  | 12/31/2007 | 10.366 | 11.094 | 2138   |
|                                  | 12/31/2008 | 11.094 | 6.372  | 429    |
|                                  | 12/31/2009 | 6.372  | 8.451  | 263    |
|                                  | 12/31/2010 | 8.451  | 10.223 | 156    |
|                                  | 12/31/2011 | 10.223 | 9.740  | 101    |
|                                  | 12/31/2012 | 9.740  | 11.286 | 395    |
|                                  |       |   |   |   |
| AZL Federated Clover Small Value Fund |
| CON 1 1.40%                           |       |   |   |   |
|                                  | 12/31/2003 | N/A    | 12.718 | 385    |
|                                  | 12/31/2004 | 12.718 | 15.437 | 1737   |
|                                  | 12/31/2005 | 15.437 | 16.293 | 2976   |
|                                  | 12/31/2006 | 16.293 | 18.544 | 3644   |
|                                  | 12/31/2007 | 18.544 | 17.485 | 2450   |
|                                  | 12/31/2008 | 17.485 | 11.426 | 582    |
|                                  | 12/31/2009 | 11.426 | 14.716 | 342    |
|                                  | 12/31/2010 | 14.716 | 18.446 | 288    |
|                                  | 12/31/2011 | 18.446 | 17.477 | 183    |
|                                  | 12/31/2012 | 17.477 | 19.701 | 489    |
| CON 2 1.60%                           |       |   |   |   |
|                                  | 12/31/2003 | N/A    | 12.701 | 484    |
|                                  | 12/31/2004 | 12.701 | 15.385 | 1683   |
|                                  | 12/31/2005 | 15.385 | 16.206 | 2307   |
|                                  | 12/31/2006 | 16.206 | 18.408 | 2444   |
|                                  | 12/31/2007 | 18.408 | 17.323 | 1700   |
|                                  | 12/31/2008 | 17.323 | 11.297 | 375    |
|                                  | 12/31/2009 | 11.297 | 14.521 | 255    |
|                                  | 12/31/2010 | 14.521 | 18.165 | 167    |
|                                  | 12/31/2011 | 18.165 | 17.176 | 110    |
|                                  | 12/31/2012 | 17.176 | 19.323 | 343    |
| AZL Growth Index Strategy Fund        |
| CON 1 1.40%                           |       |   |   |   |
|                                  | 12/31/2009 | N/A    | 10.067 | 67     |
|                                  | 12/31/2010 | 10.067 | 11.259 | 30     |
|                                  | 12/31/2011 | 11.259 | 11.104 | 23     |
|                                  | 12/31/2012 | 11.104 | 12.408 | 39     |
| CON 2 1.60%                           |       |   |   |   |
|                                  | 12/31/2009 | N/A    | 10.063 | 47     |
|                                  | 12/31/2010 | 10.063 | 11.232 | 40     |
|                                  | 12/31/2011 | 11.232 | 11.055 | 48     |
|                                  | 12/31/2012 | 11.055 | 12.329 | 93     |
| AZL International Index Fund          |
| CON 1 1.40%                           |       |   |   |   |
|                                  | 12/31/2009 | N/A    | 9.761  | 48     |
|                                  | 12/31/2010 | 9.761  | 10.310 | 81     |
|                                  | 12/31/2011 | 10.310 | 8.868  | 28     |
|                                  | 12/31/2012 | 8.868  | 10.321 | 77     |
| CON 2 1.60%                           |       |   |   |   |
|                                  | 12/31/2009 | N/A    | 9.757  | 29     |
|                                  | 12/31/2010 | 9.757  | 10.285 | 37     |
|                                  | 12/31/2011 | 10.285 | 8.829  | 17     |
|                                  | 12/31/2012 | 8.829  | 10.255 | 23     |
| AZL Invesco Equity and Income Fund    |
| CON 1 1.40%                           |       |   |   |   |
|                                  | 12/31/2004 | N/A    | 10.810 | 2159   |
|                                  | 12/31/2005 | 10.810 | 11.380 | 4060   |
|                                  | 12/31/2006 | 11.380 | 12.627 | 5108   |
|                                  | 12/31/2007 | 12.627 | 12.832 | 4227   |
|                                  | 12/31/2008 | 12.832 | 9.627  | 802    |
|                                  | 12/31/2009 | 9.627  | 11.662 | 465    |
|                                  | 12/31/2010 | 11.662 | 12.850 | 230    |
|                                  | 12/31/2011 | 12.850 | 12.395 | 182    |
|                                  | 12/31/2012 | 12.395 | 13.678 | 685    |

----

| Benefit Option *  | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
|-------------------|----------------------|----------------------------|----------------------|-----------------------------------------------------------|
| Investment Option |

| CON 2 1.60%                                   |       |   |   |   |
|-----------------------------------------------|------------|--------|--------|--------|
|                                          | 12/31/2004 | N/A    | 10.795 | 1275   |
|                                          | 12/31/2005 | 10.795 | 11.342 | 2394   |
|                                          | 12/31/2006 | 11.342 | 12.560 | 2742   |
|                                          | 12/31/2007 | 12.560 | 12.738 | 2186   |
|                                          | 12/31/2008 | 12.738 | 9.537  | 464    |
|                                          | 12/31/2009 | 9.537  | 11.530 | 281    |
|                                          | 12/31/2010 | 11.530 | 12.679 | 137    |
|                                          | 12/31/2011 | 12.679 | 12.207 | 91     |
|                                          | 12/31/2012 | 12.207 | 13.442 | 428    |
| AZL Invesco Growth and Income Fund            |
| CON 1 1.40%                                   |       |   |   |   |
|                                          | 12/31/2003 | N/A    | 10.219 | 955    |
|                                          | 12/31/2004 | 10.219 | 11.469 | 2635   |
|                                          | 12/31/2005 | 11.469 | 12.355 | 3937   |
|                                          | 12/31/2006 | 12.355 | 14.121 | 3999   |
|                                          | 12/31/2007 | 14.121 | 14.291 | 3027   |
|                                          | 12/31/2008 | 14.291 | 9.462  | 665    |
|                                          | 12/31/2009 | 9.462  | 11.537 | 413    |
|                                          | 12/31/2010 | 11.537 | 12.783 | 294    |
|                                          | 12/31/2011 | 12.783 | 12.361 | 190    |
|                                          | 12/31/2012 | 12.361 | 13.936 | 634    |
| CON 2 1.60%                                   |       |   |   |   |
|                                          | 12/31/2003 | N/A    | 10.065 | 1298   |
|                                          | 12/31/2004 | 10.065 | 11.273 | 2179   |
|                                          | 12/31/2005 | 11.273 | 12.120 | 3088   |
|                                          | 12/31/2006 | 12.120 | 13.824 | 3201   |
|                                          | 12/31/2007 | 13.824 | 13.963 | 2306   |
|                                          | 12/31/2008 | 13.963 | 9.226  | 502    |
|                                          | 12/31/2009 | 9.226  | 11.227 | 341    |
|                                          | 12/31/2010 | 11.227 | 12.415 | 215    |
|                                          | 12/31/2011 | 12.415 | 11.981 | 148    |
|                                          | 12/31/2012 | 11.981 | 13.480 | 478    |
| AZL Invesco International Equity Fund         |
| CON 1 1.40%                                   |       |   |   |   |
|                                          | 12/31/2003 | N/A    | 10.135 | 245    |
|                                          | 12/31/2004 | 10.135 | 12.205 | 707    |
|                                          | 12/31/2005 | 12.205 | 14.005 | 1347   |
|                                          | 12/31/2006 | 14.005 | 17.546 | 2066   |
|                                          | 12/31/2007 | 17.546 | 19.830 | 1815   |
|                                          | 12/31/2008 | 19.830 | 11.438 | 333    |
|                                          | 12/31/2009 | 11.438 | 15.150 | 421    |
|                                          | 12/31/2010 | 15.150 | 16.810 | 221    |
|                                          | 12/31/2011 | 16.810 | 15.364 | 123    |
|                                          | 12/31/2012 | 15.364 | 17.506 | 448    |
| CON 2 1.60%                                   |       |   |   |   |
|                                          | 12/31/2003 | N/A    | 10.097 | 104    |
|                                          | 12/31/2004 | 10.097 | 12.135 | 378    |
|                                          | 12/31/2005 | 12.135 | 13.897 | 818    |
|                                          | 12/31/2006 | 13.897 | 17.375 | 1136   |
|                                          | 12/31/2007 | 17.375 | 19.598 | 1128   |
|                                          | 12/31/2008 | 19.598 | 11.281 | 205    |
|                                          | 12/31/2009 | 11.281 | 14.913 | 247    |
|                                          | 12/31/2010 | 14.913 | 16.514 | 133    |
|                                          | 12/31/2011 | 16.514 | 15.063 | 83     |
|                                          | 12/31/2012 | 15.063 | 17.129 | 278    |
|                                          |       |   |   |   |
| AZL JPMorgan International Opportunities Fund |
| CON 1 1.40%                                   |       |   |   |   |
|                                          | 12/31/2003 | N/A    | 12.274 | 330    |
|                                          | 12/31/2004 | 12.274 | 13.581 | 1682   |
|                                          | 12/31/2005 | 13.581 | 14.952 | 3430   |
|                                          | 12/31/2006 | 14.952 | 17.878 | 4358   |
|                                          | 12/31/2007 | 17.878 | 19.359 | 3276   |
|                                          | 12/31/2008 | 19.359 | 13.637 | 708    |
|                                          | 12/31/2009 | 13.637 | 16.987 | 629    |
|                                          | 12/31/2010 | 16.987 | 17.747 | 336    |
|                                          | 12/31/2011 | 17.747 | 15.154 | 236    |
|                                          | 12/31/2012 | 15.154 | 17.970 | 935    |
| CON 2 1.60%                                   |       |   |   |   |
|                                          | 12/31/2003 | N/A    | 12.258 | 362    |
|                                          | 12/31/2004 | 12.258 | 13.535 | 1758   |
|                                          | 12/31/2005 | 13.535 | 14.872 | 2985   |
|                                          | 12/31/2006 | 14.872 | 17.748 | 3402   |
|                                          | 12/31/2007 | 17.748 | 19.179 | 2761   |
|                                          | 12/31/2008 | 19.179 | 13.483 | 576    |
|                                          | 12/31/2009 | 13.483 | 16.761 | 500    |
|                                          | 12/31/2010 | 16.761 | 17.476 | 222    |
|                                          | 12/31/2011 | 17.476 | 14.894 | 169    |
|                                          | 12/31/2012 | 14.894 | 17.625 | 673    |
| AZL JPMorgan U.S. Equity Fund                 |
| CON 1 1.40%                                   |       |   |   |   |
|                                          | 12/31/2004 | N/A    | 10.759 | 1410   |
|                                          | 12/31/2005 | 10.759 | 11.188 | 1939   |
|                                          | 12/31/2006 | 11.188 | 12.643 | 2055   |
|                                          | 12/31/2007 | 12.643 | 12.939 | 1682   |
|                                          | 12/31/2008 | 12.939 | 7.824  | 366    |
|                                          | 12/31/2009 | 7.824  | 10.316 | 498    |
|                                          | 12/31/2010 | 10.316 | 11.492 | 304    |
|                                          | 12/31/2011 | 11.492 | 11.083 | 234    |
|                                          | 12/31/2012 | 11.083 | 12.801 | 912    |
| CON 2 1.60%                                   |       |   |   |   |
|                                          | 12/31/2004 | N/A    | 10.744 | 968    |
|                                          | 12/31/2005 | 10.744 | 11.151 | 1252   |
|                                          | 12/31/2006 | 11.151 | 12.576 | 1255   |
|                                          | 12/31/2007 | 12.576 | 12.845 | 939    |
|                                          | 12/31/2008 | 12.845 | 7.751  | 190    |
|                                          | 12/31/2009 | 7.751  | 10.200 | 247    |
|                                          | 12/31/2010 | 10.200 | 11.339 | 166    |
|                                          | 12/31/2011 | 11.339 | 10.915 | 141    |
|                                          | 12/31/2012 | 10.915 | 12.581 | 519    |
| AZL MFS Investors Trust Fund                  |
| CON 1 1.40%                                   |       |   |   |   |
|                                          | 12/31/2005 | N/A    | 12.246 | 1890   |
|                                          | 12/31/2006 | 12.246 | 13.620 | 2731   |
|                                          | 12/31/2007 | 13.620 | 14.871 | 2601   |
|                                          | 12/31/2008 | 14.871 | 8.782  | 1032   |
|                                          | 12/31/2009 | 8.782  | 13.147 | 796    |
|                                          | 12/31/2010 | 13.147 | 14.391 | 367    |
|                                          | 12/31/2011 | 14.391 | 13.877 | 210    |
|                                          | 12/31/2012 | 13.877 | 16.276 | 611    |

----

| Benefit Option *  | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
|-------------------|----------------------|----------------------------|----------------------|-----------------------------------------------------------|
| Investment Option |

| CON 2 1.60%                                |       |   |   |   |
|--------------------------------------------|------------|--------|--------|--------|
|                                       | 12/31/2005 | N/A    | 12.229 | 715    |
|                                       | 12/31/2006 | 12.229 | 13.575 | 1475   |
|                                       | 12/31/2007 | 13.575 | 14.792 | 1355   |
|                                       | 12/31/2008 | 14.792 | 8.718  | 622    |
|                                       | 12/31/2009 | 8.718  | 13.024 | 418    |
|                                       | 12/31/2010 | 13.024 | 14.229 | 227    |
|                                       | 12/31/2011 | 14.229 | 13.693 | 153    |
|                                       | 12/31/2012 | 13.693 | 16.028 | 433    |
| AZL MFS Value Fund                         |
| CON 1 1.40%                                |       |   |   |   |
|                                       | 12/31/2003 | N/A    | 9.508  | 1643   |
|                                       | 12/31/2004 | 9.508  | 10.980 | 5101   |
|                                       | 12/31/2005 | 10.980 | 11.253 | 7280   |
|                                       | 12/31/2006 | 11.253 | 12.846 | 7045   |
|                                       | 12/31/2007 | 12.846 | 12.386 | 6978   |
|                                       | 12/31/2008 | 12.386 | 7.794  | 1421   |
|                                       | 12/31/2009 | 7.794  | 9.724  | 860    |
|                                       | 12/31/2010 | 9.724  | 10.531 | 469    |
|                                       | 12/31/2011 | 10.531 | 9.923  | 370    |
|                                       | 12/31/2012 | 9.923  | 11.416 | 1440   |
| CON 2 1.60%                                |       |   |   |   |
|                                       | 12/31/2003 | N/A    | 9.314  | 1537   |
|                                       | 12/31/2004 | 9.314  | 10.735 | 3718   |
|                                       | 12/31/2005 | 10.735 | 10.980 | 5006   |
|                                       | 12/31/2006 | 10.980 | 12.509 | 4847   |
|                                       | 12/31/2007 | 12.509 | 12.037 | 4338   |
|                                       | 12/31/2008 | 12.037 | 7.559  | 853    |
|                                       | 12/31/2009 | 7.559  | 9.413  | 550    |
|                                       | 12/31/2010 | 9.413  | 10.173 | 332    |
|                                       | 12/31/2011 | 10.173 | 9.566  | 290    |
|                                       | 12/31/2012 | 9.566  | 10.983 | 1023   |
| AZL Mid Cap Index Fund                     |
| CON 1 1.40%                                |       |   |   |   |
|                                       | 12/31/2010 | N/A    | 10.670 | 64     |
|                                       | 12/31/2011 | 10.670 | 10.278 | 49     |
|                                       | 12/31/2012 | 10.278 | 11.879 | 87     |
| CON 2 1.60%                                |       |   |   |   |
|                                       | 12/31/2010 | N/A    | 10.656 | 20     |
|                                       | 12/31/2011 | 10.656 | 10.244 | 18     |
|                                       | 12/31/2012 | 10.244 | 11.816 | 39     |
| AZL Money Market Fund                      |
| CON 1 1.40%                                |       |   |   |   |
|                                       | 12/31/2003 | N/A    | 10.410 | 1880   |
|                                       | 12/31/2004 | 10.410 | 10.334 | 4173   |
|                                       | 12/31/2005 | 10.334 | 10.453 | 5168   |
|                                       | 12/31/2006 | 10.453 | 10.766 | 6819   |
|                                       | 12/31/2007 | 10.766 | 11.125 | 6663   |
|                                       | 12/31/2008 | 11.125 | 11.238 | 4232   |
|                                       | 12/31/2009 | 11.238 | 11.106 | 3025   |
|                                       | 12/31/2010 | 11.106 | 10.952 | 2253   |
|                                       | 12/31/2011 | 10.952 | 10.801 | 1608   |
|                                       | 12/31/2012 | 10.801 | 10.650 | 3616   |
| CON 2 1.60%                                |       |   |   |   |
|                                       | 12/31/2003 | N/A    | 10.332 | 1447   |
|                                       | 12/31/2004 | 10.332 | 10.236 | 2150   |
|                                       | 12/31/2005 | 10.236 | 10.333 | 3170   |
|                                       | 12/31/2006 | 10.333 | 10.621 | 2737   |
|                                       | 12/31/2007 | 10.621 | 10.954 | 2908   |
|                                       | 12/31/2008 | 10.954 | 11.043 | 2174   |
|                                       | 12/31/2009 | 11.043 | 10.891 | 1309   |
|                                       | 12/31/2010 | 10.891 | 10.719 | 965    |
|                                       | 12/31/2011 | 10.719 | 10.550 | 777    |
|                                       | 12/31/2012 | 10.550 | 10.382 | 1703   |
| AZL Morgan Stanley Global Real Estate Fund |
| CON 1 1.40%                                |       |   |   |   |
|                                       | 12/31/2006 | N/A    | 12.052 | 973    |
|                                       | 12/31/2007 | 12.052 | 10.852 | 803    |
|                                       | 12/31/2008 | 10.852 | 5.796  | 167    |
|                                       | 12/31/2009 | 5.796  | 8.013  | 134    |
|                                       | 12/31/2010 | 8.013  | 9.550  | 122    |
|                                       | 12/31/2011 | 9.550  | 8.481  | 75     |
|                                       | 12/31/2012 | 8.481  | 10.860 | 191    |
| CON 2 1.60%                                |       |   |   |   |
|                                       | 12/31/2006 | N/A    | 12.036 | 596    |
|                                       | 12/31/2007 | 12.036 | 10.815 | 616    |
|                                       | 12/31/2008 | 10.815 | 5.765  | 167    |
|                                       | 12/31/2009 | 5.765  | 7.954  | 94     |
|                                       | 12/31/2010 | 7.954  | 9.461  | 86     |
|                                       | 12/31/2011 | 9.461  | 8.386  | 57     |
|                                       | 12/31/2012 | 8.386  | 10.716 | 154    |
| AZL Morgan Stanley Mid Cap Growth Fund     |
| CON 1 1.40%                                |       |   |   |   |
|                                       | 12/31/2003 | N/A    | 9.007  | 394    |
|                                       | 12/31/2004 | 9.007  | 10.767 | 1300   |
|                                       | 12/31/2005 | 10.767 | 12.480 | 2585   |
|                                       | 12/31/2006 | 12.480 | 13.440 | 3011   |
|                                       | 12/31/2007 | 13.440 | 16.193 | 3724   |
|                                       | 12/31/2008 | 16.193 | 8.220  | 778    |
|                                       | 12/31/2009 | 8.220  | 12.780 | 589    |
|                                       | 12/31/2010 | 12.780 | 16.698 | 351    |
|                                       | 12/31/2011 | 16.698 | 15.385 | 167    |
|                                       | 12/31/2012 | 15.385 | 16.438 | 513    |
| CON 2 1.60%                                |       |   |   |   |
|                                       | 12/31/2003 | N/A    | 8.692  | 529    |
|                                       | 12/31/2004 | 8.692  | 10.370 | 730    |
|                                       | 12/31/2005 | 10.370 | 11.996 | 1542   |
|                                       | 12/31/2006 | 11.996 | 12.893 | 1794   |
|                                       | 12/31/2007 | 12.893 | 15.503 | 2295   |
|                                       | 12/31/2008 | 15.503 | 7.854  | 466    |
|                                       | 12/31/2009 | 7.854  | 12.186 | 372    |
|                                       | 12/31/2010 | 12.186 | 15.891 | 236    |
|                                       | 12/31/2011 | 15.891 | 14.612 | 134    |
|                                       | 12/31/2012 | 14.612 | 15.581 | 353    |

----

| Benefit Option *  | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
|-------------------|----------------------|----------------------------|----------------------|-----------------------------------------------------------|
| Investment Option |

| AZL MVP Fusion Balanced Fund              |
|-------------------------------------------|
| CON 1 1.40%                               |   |   |   |   |
|                                      | 12/31/2005 | N/A | 10.630 | 2932 |
|                                      | 12/31/2006 | 10.630 | 11.477 | 4889 |
|                                      | 12/31/2007 | 11.477 | 12.121 | 4984 |
|                                      | 12/31/2008 | 12.121 | 8.672 | 1225 |
|                                      | 12/31/2009 | 8.672 | 10.836 | 935 |
|                                      | 12/31/2010 | 10.836 | 11.868 | 620 |
|                                      | 12/31/2011 | 11.868 | 11.598 | 255 |
|                                      | 12/31/2012 | 11.598 | 12.739 | 1097 |
| CON 2 1.60%                               |   |   |   |   |
|                                      | 12/31/2005 | N/A | 10.615 | 1353 |
|                                      | 12/31/2006 | 10.615 | 11.439 | 2265 |
|                                      | 12/31/2007 | 11.439 | 12.057 | 2418 |
|                                      | 12/31/2008 | 12.057 | 8.609 | 525 |
|                                      | 12/31/2009 | 8.609 | 10.735 | 377 |
|                                      | 12/31/2010 | 10.735 | 11.734 | 231 |
|                                      | 12/31/2011 | 11.734 | 11.444 | 92 |
|                                      | 12/31/2012 | 11.444 | 12.545 | 429 |
| AZL MVP Fusion Growth Fund                |
| CON 1 1.40%                               |   |   |   |   |
|                                      | 12/31/2005 | N/A | 11.105 | 4341 |
|                                      | 12/31/2006 | 11.105 | 12.288 | 10396 |
|                                      | 12/31/2007 | 12.288 | 12.813 | 8739 |
|                                      | 12/31/2008 | 12.813 | 7.715 | 1841 |
|                                      | 12/31/2009 | 7.715 | 10.057 | 1103 |
|                                      | 12/31/2010 | 10.057 | 11.197 | 837 |
|                                      | 12/31/2011 | 11.197 | 10.553 | 575 |
|                                      | 12/31/2012 | 10.553 | 11.788 | 2402 |
| CON 2 1.60%                               |   |   |   |   |
|                                      | 12/31/2005 | N/A | 11.090 | 3323 |
|                                      | 12/31/2006 | 11.090 | 12.247 | 6346 |
|                                      | 12/31/2007 | 12.247 | 12.745 | 5304 |
|                                      | 12/31/2008 | 12.745 | 7.658 | 988 |
|                                      | 12/31/2009 | 7.658 | 9.963 | 606 |
|                                      | 12/31/2010 | 9.963 | 11.071 | 411 |
|                                      | 12/31/2011 | 11.071 | 10.413 | 364 |
|                                      | 12/31/2012 | 10.413 | 11.608 | 1366 |
| AZL MVP Fusion Moderate Fund              |
| CON 1 1.40%                               |   |   |   |   |
|                                      | 12/31/2005 | N/A | 10.808 | 5644 |
|                                      | 12/31/2006 | 10.808 | 11.800 | 11618 |
|                                      | 12/31/2007 | 11.800 | 12.396 | 11909 |
|                                      | 12/31/2008 | 12.396 | 8.219 | 1996 |
|                                      | 12/31/2009 | 8.219 | 10.490 | 1413 |
|                                      | 12/31/2010 | 10.490 | 11.559 | 868 |
|                                      | 12/31/2011 | 11.559 | 11.075 | 570 |
|                                      | 12/31/2012 | 11.075 | 12.289 | 2551 |
| CON 2 1.60%                               |   |   |   |   |
|                                      | 12/31/2005 | N/A | 10.793 | 3282 |
|                                      | 12/31/2006 | 10.793 | 11.760 | 6079 |
|                                      | 12/31/2007 | 11.760 | 12.330 | 5010 |
|                                      | 12/31/2008 | 12.330 | 8.159 | 943 |
|                                      | 12/31/2009 | 8.159 | 10.392 | 625 |
|                                      | 12/31/2010 | 10.392 | 11.428 | 338 |
|                                      | 12/31/2011 | 11.428 | 10.928 | 241 |
|                                      | 12/31/2012 | 10.928 | 12.101 | 1158 |
|                                      |   |   |   |   |
| AZL Oppenheimer Discovery Fund            |
| CON 1 1.40%                               |   |   |   |   |
|                                      | 12/31/2005 | N/A | 11.125 | 407 |
|                                      | 12/31/2006 | 11.125 | 12.211 | 563 |
|                                      | 12/31/2007 | 12.211 | 12.772 | 358 |
|                                      | 12/31/2008 | 12.772 | 7.135 | 82 |
|                                      | 12/31/2009 | 7.135 | 9.244 | 58 |
|                                      | 12/31/2010 | 9.244 | 11.744 | 81 |
|                                      | 12/31/2011 | 11.744 | 10.957 | 27 |
|                                      | 12/31/2012 | 10.957 | 12.600 | 97 |
| CON 2 1.60%                               |   |   |   |   |
|                                      | 12/31/2005 | N/A | 11.110 | 238 |
|                                      | 12/31/2006 | 11.110 | 12.171 | 251 |
|                                      | 12/31/2007 | 12.171 | 12.704 | 144 |
|                                      | 12/31/2008 | 12.704 | 7.082 | 48 |
|                                      | 12/31/2009 | 7.082 | 9.158 | 36 |
|                                      | 12/31/2010 | 9.158 | 11.611 | 36 |
|                                      | 12/31/2011 | 11.611 | 10.811 | 16 |
|                                      | 12/31/2012 | 10.811 | 12.408 | 50 |
| AZL S&P 500 Index Fund                |
| CON 1 1.40%                               |   |   |   |   |
|                                      | 12/31/2007 | N/A | 9.882 | 258 |
|                                      | 12/31/2008 | 9.882 | 6.079 | 1554 |
|                                      | 12/31/2009 | 6.079 | 7.514 | 1243 |
|                                      | 12/31/2010 | 7.514 | 8.489 | 779 |
|                                      | 12/31/2011 | 8.489 | 8.502 | 592 |
|                                      | 12/31/2012 | 8.502 | 9.675 | 1771 |
| CON 2 1.60%                               |   |   |   |   |
|                                      | 12/31/2007 | N/A | 9.869 | 32 |
|                                      | 12/31/2008 | 9.869 | 6.058 | 613 |
|                                      | 12/31/2009 | 6.058 | 7.474 | 762 |
|                                      | 12/31/2010 | 7.474 | 8.427 | 397 |
|                                      | 12/31/2011 | 8.427 | 8.423 | 255 |
|                                      | 12/31/2012 | 8.423 | 9.566 | 865 |
| AZL Schroder Emerging Markets Equity Fund |
| CON 1 1.40%                               |   |   |   |   |
|                                      | 12/31/2006 | N/A | 10.472 | 1100 |
|                                      | 12/31/2007 | 10.472 | 13.455 | 2020 |
|                                      | 12/31/2008 | 13.455 | 6.384 | 877 |
|                                      | 12/31/2009 | 6.384 | 10.813 | 787 |
|                                      | 12/31/2010 | 10.813 | 11.985 | 491 |
|                                      | 12/31/2011 | 11.985 | 9.778 | 253 |
|                                      | 12/31/2012 | 9.778 | 11.670 | 701 |
| CON 2 1.60%                               |   |   |   |   |
|                                      | 12/31/2006 | N/A | 10.458 | 455 |
|                                      | 12/31/2007 | 10.458 | 13.410 | 898 |
|                                      | 12/31/2008 | 13.410 | 6.350 | 509 |
|                                      | 12/31/2009 | 6.350 | 10.734 | 361 |
|                                      | 12/31/2010 | 10.734 | 11.874 | 216 |
|                                      | 12/31/2011 | 11.874 | 9.667 | 107 |
|                                      | 12/31/2012 | 9.667 | 11.515 | 382 |

----

| Benefit Option *  | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
|-------------------|----------------------|----------------------------|----------------------|-----------------------------------------------------------|
| Investment Option |

| AZL Small Cap Stock Index Fund                                   |
|------------------------------------------------------------------|
| CON 1 1.40%                                                      |   |   |   |   |
|                                                             | 12/31/2007 | N/A | 9.329 | 56 |
|                                                             | 12/31/2008 | 9.329 | 6.353 | 925 |
|                                                             | 12/31/2009 | 6.353 | 7.821 | 587 |
|                                                             | 12/31/2010 | 7.821 | 9.678 | 357 |
|                                                             | 12/31/2011 | 9.678 | 9.571 | 257 |
|                                                             | 12/31/2012 | 9.571 | 10.930 | 819 |
| CON 2 1.60%                                                      |   |   |   |   |
|                                                             | 12/31/2007 | N/A | 9.317 | 18 |
|                                                             | 12/31/2008 | 9.317 | 6.331 | 485 |
|                                                             | 12/31/2009 | 6.331 | 7.779 | 278 |
|                                                             | 12/31/2010 | 7.779 | 9.607 | 227 |
|                                                             | 12/31/2011 | 9.607 | 9.482 | 170 |
|                                                             | 12/31/2012 | 9.482 | 10.807 | 543 |
| BlackRock Global Allocation V.I. Fund                            |
| CON 1 1.40%                                                      |   |   |   |   |
|                                                             | 12/31/2008 | N/A | 7.919 | 505 |
|                                                             | 12/31/2009 | 7.919 | 9.443 | 428 |
|                                                             | 12/31/2010 | 9.443 | 10.220 | 373 |
|                                                             | 12/31/2011 | 10.220 | 9.712 | 272 |
|                                                             | 12/31/2012 | 9.712 | 10.530 | 581 |
| CON 2 1.60%                                                      |   |   |   |   |
|                                                             | 12/31/2008 | N/A | 7.909 | 163 |
|                                                             | 12/31/2009 | 7.909 | 9.411 | 349 |
|                                                             | 12/31/2010 | 9.411 | 10.166 | 165 |
|                                                             | 12/31/2011 | 10.166 | 9.641 | 120 |
|                                                             | 12/31/2012 | 9.641 | 10.432 | 255 |
| Columbia Variable Portfolio– Select Smaller-Cap Value Fund |
| CON 1 1.40%                                                      |   |   |   |   |
|                                                             | 12/31/2011 | N/A | 9.911 | 43 |
|                                                             | 12/31/2012 | 9.911 | 11.523 | 141 |
| CON 2 1.60%                                                      |   |   |   |   |
|                                                             | 12/31/2011 | N/A | 9.878 | 35 |
|                                                             | 12/31/2012 | 9.878 | 11.462 | 108 |
| Davis VA Financial Portfolio                                     |
| CON 1 1.40%                                                      |   |   |   |   |
|                                                             | 12/31/2003 | N/A | 12.578 | 317 |
|                                                             | 12/31/2004 | 12.578 | 13.683 | 853 |
|                                                             | 12/31/2005 | 13.683 | 14.624 | 941 |
|                                                             | 12/31/2006 | 14.624 | 17.090 | 1116 |
|                                                             | 12/31/2007 | 17.090 | 15.832 | 679 |
|                                                             | 12/31/2008 | 15.832 | 8.373 | 187 |
|                                                             | 12/31/2009 | 8.373 | 11.657 | 115 |
|                                                             | 12/31/2010 | 11.657 | 12.771 | 68 |
|                                                             | 12/31/2011 | 12.771 | 11.592 | 59 |
|                                                             | 12/31/2012 | 11.592 | 13.582 | 173 |
| CON 2 1.60%                                                      |   |   |   |   |
|                                                             | 12/31/2003 | N/A | 12.350 | 303 |
|                                                             | 12/31/2004 | 12.350 | 13.408 | 751 |
|                                                             | 12/31/2005 | 13.408 | 14.301 | 842 |
|                                                             | 12/31/2006 | 14.301 | 16.679 | 914 |
|                                                             | 12/31/2007 | 16.679 | 15.421 | 594 |
|                                                             | 12/31/2008 | 15.421 | 8.140 | 148 |
|                                                             | 12/31/2009 | 8.140 | 11.309 | 115 |
|                                                             | 12/31/2010 | 11.309 | 12.365 | 86 |
|                                                             | 12/31/2011 | 12.365 | 11.201 | 53 |
|                                                             | 12/31/2012 | 11.201 | 13.097 | 147 |
| Davis VA Value Portfolio                                         |
| CON 1 1.40%                                                      |   |   |   |   |
|                                                             | 12/31/2003 | N/A | 10.193 | 1414 |
|                                                             | 12/31/2004 | 10.193 | 11.291 | 2337 |
|                                                             | 12/31/2005 | 11.291 | 12.186 | 2001 |
|                                                             | 12/31/2006 | 12.186 | 13.819 | 1702 |
|                                                             | 12/31/2007 | 13.819 | 14.258 | 1360 |
|                                                             | 12/31/2008 | 14.258 | 8.390 | 273 |
|                                                             | 12/31/2009 | 8.390 | 10.851 | 178 |
|                                                             | 12/31/2010 | 10.851 | 12.066 | 99 |
|                                                             | 12/31/2011 | 12.066 | 11.402 | 61 |
|                                                             | 12/31/2012 | 11.402 | 12.713 | 209 |
| CON 2 1.60%                                                      |   |   |   |   |
|                                                             | 12/31/2003 | N/A | 9.932 | 1036 |
|                                                             | 12/31/2004 | 9.932 | 10.979 | 1674 |
|                                                             | 12/31/2005 | 10.979 | 11.826 | 1360 |
|                                                             | 12/31/2006 | 11.826 | 13.385 | 1153 |
|                                                             | 12/31/2007 | 13.385 | 13.782 | 882 |
|                                                             | 12/31/2008 | 13.782 | 8.094 | 163 |
|                                                             | 12/31/2009 | 8.094 | 10.447 | 115 |
|                                                             | 12/31/2010 | 10.447 | 11.593 | 66 |
|                                                             | 12/31/2011 | 11.593 | 10.934 | 52 |
|                                                             | 12/31/2012 | 10.934 | 12.166 | 151 |
| Franklin Global Real Estate Securities Fund                      |
| CON 1 1.40%                                                      |   |   |   |   |
|                                                             | 12/31/2003 | N/A | 39.683 | 234 |
|                                                             | 12/31/2004 | 39.683 | 51.573 | 906 |
|                                                             | 12/31/2005 | 51.573 | 57.711 | 1368 |
|                                                             | 12/31/2006 | 57.711 | 68.626 | 1101 |
|                                                             | 12/31/2007 | 68.626 | 53.550 | 691 |
|                                                             | 12/31/2008 | 53.550 | 30.419 | 138 |
|                                                             | 12/31/2009 | 30.419 | 35.721 | 89 |
|                                                             | 12/31/2010 | 35.721 | 42.610 | 51 |
|                                                             | 12/31/2011 | 42.610 | 39.644 | 49 |
|                                                             | 12/31/2012 | 39.644 | 49.805 | 181 |
| CON 2 1.60%                                                      |   |   |   |   |
|                                                             | 12/31/2003 | N/A | 39.141 | 245 |
|                                                             | 12/31/2004 | 39.141 | 50.768 | 752 |
|                                                             | 12/31/2005 | 50.768 | 56.696 | 925 |
|                                                             | 12/31/2006 | 56.696 | 67.285 | 790 |
|                                                             | 12/31/2007 | 67.285 | 52.398 | 457 |
|                                                             | 12/31/2008 | 52.398 | 29.705 | 89 |
|                                                             | 12/31/2009 | 29.705 | 34.813 | 61 |
|                                                             | 12/31/2010 | 34.813 | 41.444 | 41 |
|                                                             | 12/31/2011 | 41.444 | 38.482 | 42 |
|                                                             | 12/31/2012 | 38.482 | 48.248 | 122 |

----

| Benefit Option *  | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
|-------------------|----------------------|----------------------------|----------------------|-----------------------------------------------------------|
| Investment Option |

| Franklin Growth and Income Securities Fund |
|--------------------------------------------|
| CON 1 1.40%                                |   |   |   |   |
|                                       | 12/31/2003 | N/A | 30.153 | 215 |
|                                       | 12/31/2004 | 30.153 | 32.888 | 762 |
|                                       | 12/31/2005 | 32.888 | 33.572 | 991 |
|                                       | 12/31/2006 | 33.572 | 38.653 | 969 |
|                                       | 12/31/2007 | 38.653 | 36.700 | 701 |
|                                       | 12/31/2008 | 36.700 | 23.471 | 149 |
|                                       | 12/31/2009 | 23.471 | 29.290 | 94 |
|                                       | 12/31/2010 | 29.290 | 33.700 | 56 |
|                                       | 12/31/2011 | 33.700 | 34.032 | 49 |
|                                       | 12/31/2012 | 34.032 | 37.661 | 154 |
| CON 2 1.60%                                |   |   |   |   |
|                                       | 12/31/2003 | N/A | 29.073 | 199 |
|                                       | 12/31/2004 | 29.073 | 31.647 | 610 |
|                                       | 12/31/2005 | 31.647 | 32.240 | 753 |
|                                       | 12/31/2006 | 32.240 | 37.046 | 710 |
|                                       | 12/31/2007 | 37.046 | 35.104 | 492 |
|                                       | 12/31/2008 | 35.104 | 22.405 | 107 |
|                                       | 12/31/2009 | 22.405 | 27.904 | 66 |
|                                       | 12/31/2010 | 27.904 | 32.041 | 41 |
|                                       | 12/31/2011 | 32.041 | 32.293 | 34 |
|                                       | 12/31/2012 | 32.293 | 35.664 | 107 |
| Franklin High Income Securities Fund       |
| CON 1 1.40%                                |   |   |   |   |
|                                       | 12/31/2003 | N/A | 21.056 | 290 |
|                                       | 12/31/2004 | 21.056 | 22.813 | 929 |
|                                       | 12/31/2005 | 22.813 | 23.242 | 1211 |
|                                       | 12/31/2006 | 23.242 | 25.066 | 1269 |
|                                       | 12/31/2007 | 25.066 | 25.387 | 946 |
|                                       | 12/31/2008 | 25.387 | 19.180 | 215 |
|                                       | 12/31/2009 | 19.180 | 26.989 | 207 |
|                                       | 12/31/2010 | 26.989 | 30.142 | 142 |
|                                       | 12/31/2011 | 30.142 | 31.080 | 74 |
|                                       | 12/31/2012 | 31.080 | 35.414 | 171 |
| CON 2 1.60%                                |   |   |   |   |
|                                       | 12/31/2003 | N/A | 20.887 | 272 |
|                                       | 12/31/2004 | 20.887 | 22.584 | 631 |
|                                       | 12/31/2005 | 22.584 | 22.963 | 720 |
|                                       | 12/31/2006 | 22.963 | 24.716 | 731 |
|                                       | 12/31/2007 | 24.716 | 24.982 | 570 |
|                                       | 12/31/2008 | 24.982 | 18.837 | 113 |
|                                       | 12/31/2009 | 18.837 | 26.452 | 95 |
|                                       | 12/31/2010 | 26.452 | 29.484 | 66 |
|                                       | 12/31/2011 | 29.484 | 30.340 | 58 |
|                                       | 12/31/2012 | 30.340 | 34.502 | 126 |
| Franklin Income Securities Fund            |
| CON 1 1.40%                                |   |   |   |   |
|                                       | 12/31/2003 | N/A | 36.137 | 83 |
|                                       | 12/31/2004 | 36.137 | 40.570 | 1164 |
|                                       | 12/31/2005 | 40.570 | 40.649 | 2943 |
|                                       | 12/31/2006 | 40.649 | 47.397 | 4455 |
|                                       | 12/31/2007 | 47.397 | 48.490 | 3642 |
|                                       | 12/31/2008 | 48.490 | 33.635 | 772 |
|                                       | 12/31/2009 | 33.635 | 44.972 | 446 |
|                                       | 12/31/2010 | 44.972 | 49.967 | 251 |
|                                       | 12/31/2011 | 49.967 | 50.449 | 193 |
|                                       | 12/31/2012 | 50.449 | 56.037 | 669 |
| CON 2 1.60%                                |   |   |   |   |
|                                       | 12/31/2003 | N/A | 34.914 | 87 |
|                                       | 12/31/2004 | 34.914 | 39.119 | 880 |
|                                       | 12/31/2005 | 39.119 | 39.117 | 1785 |
|                                       | 12/31/2006 | 39.117 | 45.520 | 2380 |
|                                       | 12/31/2007 | 45.520 | 46.476 | 2110 |
|                                       | 12/31/2008 | 46.476 | 32.173 | 426 |
|                                       | 12/31/2009 | 32.173 | 42.932 | 240 |
|                                       | 12/31/2010 | 42.932 | 47.605 | 139 |
|                                       | 12/31/2011 | 47.605 | 47.968 | 99 |
|                                       | 12/31/2012 | 47.968 | 53.175 | 390 |
| Franklin Large Cap Growth Securities Fund  |
| CON 1 1.40%                                |   |   |   |   |
|                                       | 12/31/2003 | N/A | 17.354 | 437 |
|                                       | 12/31/2004 | 17.354 | 18.470 | 2048 |
|                                       | 12/31/2005 | 18.470 | 18.406 | 2799 |
|                                       | 12/31/2006 | 18.406 | 20.129 | 2557 |
|                                       | 12/31/2007 | 20.129 | 21.084 | 1898 |
|                                       | 12/31/2008 | 21.084 | 13.612 | 371 |
|                                       | 12/31/2009 | 13.612 | 17.413 | 245 |
|                                       | 12/31/2010 | 17.413 | 19.161 | 133 |
|                                       | 12/31/2011 | 19.161 | 18.611 | 96 |
|                                       | 12/31/2012 | 18.611 | 20.621 | 355 |
| CON 2 1.60%                                |   |   |   |   |
|                                       | 12/31/2003 | N/A | 16.749 | 353 |
|                                       | 12/31/2004 | 16.749 | 17.790 | 1361 |
|                                       | 12/31/2005 | 17.790 | 17.693 | 1771 |
|                                       | 12/31/2006 | 17.693 | 19.311 | 1539 |
|                                       | 12/31/2007 | 19.311 | 20.186 | 1107 |
|                                       | 12/31/2008 | 20.186 | 13.006 | 213 |
|                                       | 12/31/2009 | 13.006 | 16.605 | 136 |
|                                       | 12/31/2010 | 16.605 | 18.235 | 79 |
|                                       | 12/31/2011 | 18.235 | 17.677 | 71 |
|                                       | 12/31/2012 | 17.677 | 19.546 | 228 |
| Franklin Rising Dividends Securities Fund  |
| CON 1 1.40%                                |   |   |   |   |
|                                       | 12/31/2003 | N/A | 29.957 | 649 |
|                                       | 12/31/2004 | 29.957 | 32.788 | 1970 |
|                                       | 12/31/2005 | 32.788 | 33.442 | 2827 |
|                                       | 12/31/2006 | 33.442 | 38.624 | 2580 |
|                                       | 12/31/2007 | 38.624 | 37.061 | 1800 |
|                                       | 12/31/2008 | 37.061 | 26.641 | 372 |
|                                       | 12/31/2009 | 26.641 | 30.828 | 237 |
|                                       | 12/31/2010 | 30.828 | 36.674 | 141 |
|                                       | 12/31/2011 | 36.674 | 38.335 | 112 |
|                                       | 12/31/2012 | 38.335 | 42.321 | 341 |
| CON 2 1.60%                                |   |   |   |   |
|                                       | 12/31/2003 | N/A | 28.837 | 552 |
|                                       | 12/31/2004 | 28.837 | 31.499 | 1481 |
|                                       | 12/31/2005 | 31.499 | 32.063 | 1800 |
|                                       | 12/31/2006 | 32.063 | 36.958 | 1656 |
|                                       | 12/31/2007 | 36.958 | 35.391 | 1095 |
|                                       | 12/31/2008 | 35.391 | 25.390 | 221 |
|                                       | 12/31/2009 | 25.390 | 29.321 | 146 |
|                                       | 12/31/2010 | 29.321 | 34.812 | 86 |
|                                       | 12/31/2011 | 34.812 | 36.316 | 73 |
|                                       | 12/31/2012 | 36.316 | 40.011 | 231 |

----

| Benefit Option *  | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
|-------------------|----------------------|----------------------------|----------------------|-----------------------------------------------------------|
| Investment Option |

| Franklin Small Cap Value Securities Fund              |
|-------------------------------------------------------|
| CON 1 1.40%                                           |   |   |   |   |
|                                                  | 12/31/2003 | N/A | 12.442 | 371 |
|                                                  | 12/31/2004 | 12.442 | 15.182 | 1404 |
|                                                  | 12/31/2005 | 15.182 | 16.284 | 1761 |
|                                                  | 12/31/2006 | 16.284 | 18.785 | 1325 |
|                                                  | 12/31/2007 | 18.785 | 18.082 | 942 |
|                                                  | 12/31/2008 | 18.082 | 11.943 | 175 |
|                                                  | 12/31/2009 | 11.943 | 15.211 | 108 |
|                                                  | 12/31/2010 | 15.211 | 19.233 | 62 |
|                                                  | 12/31/2011 | 19.233 | 18.253 | 51 |
|                                                  | 12/31/2012 | 18.253 | 21.307 | 148 |
| CON 2 1.60%                                           |   |   |   |   |
|                                                  | 12/31/2003 | N/A | 12.186 | 278 |
|                                                  | 12/31/2004 | 12.186 | 14.840 | 991 |
|                                                  | 12/31/2005 | 14.840 | 15.885 | 1099 |
|                                                  | 12/31/2006 | 15.885 | 18.288 | 843 |
|                                                  | 12/31/2007 | 18.288 | 17.568 | 579 |
|                                                  | 12/31/2008 | 17.568 | 11.580 | 112 |
|                                                  | 12/31/2009 | 11.580 | 14.720 | 71 |
|                                                  | 12/31/2010 | 14.720 | 18.574 | 46 |
|                                                  | 12/31/2011 | 18.574 | 17.593 | 42 |
|                                                  | 12/31/2012 | 17.593 | 20.495 | 99 |
| Franklin Small-Mid Cap Growth Securities Fund         |
| CON 1 1.40%                                           |   |   |   |   |
|                                                  | 12/31/2003 | N/A | 18.949 | 347 |
|                                                  | 12/31/2004 | 18.949 | 20.829 | 920 |
|                                                  | 12/31/2005 | 20.829 | 21.524 | 1184 |
|                                                  | 12/31/2006 | 21.524 | 23.070 | 960 |
|                                                  | 12/31/2007 | 23.070 | 25.305 | 727 |
|                                                  | 12/31/2008 | 25.305 | 14.349 | 139 |
|                                                  | 12/31/2009 | 14.349 | 20.315 | 82 |
|                                                  | 12/31/2010 | 20.315 | 25.566 | 71 |
|                                                  | 12/31/2011 | 25.566 | 23.994 | 37 |
|                                                  | 12/31/2012 | 23.994 | 26.225 | 123 |
| CON 2 1.60%                                           |   |   |   |   |
|                                                  | 12/31/2003 | N/A | 18.318 | 271 |
|                                                  | 12/31/2004 | 18.318 | 20.095 | 591 |
|                                                  | 12/31/2005 | 20.095 | 20.723 | 678 |
|                                                  | 12/31/2006 | 20.723 | 22.168 | 598 |
|                                                  | 12/31/2007 | 22.168 | 24.267 | 451 |
|                                                  | 12/31/2008 | 24.267 | 13.733 | 82 |
|                                                  | 12/31/2009 | 13.733 | 19.404 | 50 |
|                                                  | 12/31/2010 | 19.404 | 24.370 | 34 |
|                                                  | 12/31/2011 | 24.370 | 22.826 | 26 |
|                                                  | 12/31/2012 | 22.826 | 24.899 | 84 |
|                                                  |   |   |   |   |
| Franklin Templeton VIP Founding Funds Allocation Fund |
| CON 1 1.40%                                           |   |   |   |   |
|                                                  | 12/31/2007 | N/A | 9.246 | 71 |
|                                                  | 12/31/2008 | 9.246 | 5.847 | 66 |
|                                                  | 12/31/2009 | 5.847 | 7.510 | 81 |
|                                                  | 12/31/2010 | 7.510 | 8.165 | 42 |
|                                                  | 12/31/2011 | 8.165 | 7.927 | 25 |
|                                                  | 12/31/2012 | 7.927 | 9.015 | 80 |
| CON 2 1.60%                                           |   |   |   |   |
|                                                  | 12/31/2007 | N/A | 9.237 | 1176 |
|                                                  | 12/31/2008 | 9.237 | 5.829 | 138 |
|                                                  | 12/31/2009 | 5.829 | 7.472 | 175 |
|                                                  | 12/31/2010 | 7.472 | 8.108 | 97 |
|                                                  | 12/31/2011 | 8.108 | 7.856 | 39 |
|                                                  | 12/31/2012 | 7.856 | 8.916 | 86 |
| Franklin U.S. Government Fund                         |
| CON 1 1.40%                                           |   |   |   |   |
|                                                  | 12/31/2003 | N/A | 23.587 | 545 |
|                                                  | 12/31/2004 | 23.587 | 24.067 | 1583 |
|                                                  | 12/31/2005 | 24.067 | 24.304 | 2101 |
|                                                  | 12/31/2006 | 24.304 | 24.929 | 1954 |
|                                                  | 12/31/2007 | 24.929 | 26.205 | 1814 |
|                                                  | 12/31/2008 | 26.205 | 27.800 | 709 |
|                                                  | 12/31/2009 | 27.800 | 28.262 | 525 |
|                                                  | 12/31/2010 | 28.262 | 29.342 | 378 |
|                                                  | 12/31/2011 | 29.342 | 30.578 | 277 |
|                                                  | 12/31/2012 | 30.578 | 30.720 | 418 |
| CON 2 1.60%                                           |   |   |   |   |
|                                                  | 12/31/2003 | N/A | 22.737 | 547 |
|                                                  | 12/31/2004 | 22.737 | 23.152 | 1241 |
|                                                  | 12/31/2005 | 23.152 | 23.334 | 1524 |
|                                                  | 12/31/2006 | 23.334 | 23.887 | 1347 |
|                                                  | 12/31/2007 | 23.887 | 25.058 | 1037 |
|                                                  | 12/31/2008 | 25.058 | 26.531 | 346 |
|                                                  | 12/31/2009 | 26.531 | 26.918 | 264 |
|                                                  | 12/31/2010 | 26.918 | 27.890 | 197 |
|                                                  | 12/31/2011 | 27.890 | 29.008 | 114 |
|                                                  | 12/31/2012 | 29.008 | 29.083 | 262 |
| Jennison Portfolio                                    |
| CON 1 1.40%                                           |   |   |   |   |
|                                                  | 12/31/2010 | N/A | 10.451 | 21 |
|                                                  | 12/31/2011 | 10.451 | 10.297 | 16 |
|                                                  | 12/31/2012 | 10.297 | 11.750 | 60 |
| CON 2 1.60%                                           |   |   |   |   |
|                                                  | 12/31/2010 | N/A | 10.436 | 8 |
|                                                  | 12/31/2011 | 10.436 | 10.262 | 10 |
|                                                  | 12/31/2012 | 10.262 | 11.687 | 25 |

----

| Benefit Option *  | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
|-------------------|----------------------|----------------------------|----------------------|-----------------------------------------------------------|
| Investment Option |

| Mutual Shares Securities Fund               |
|---------------------------------------------|
| CON 1 1.40%                                 |   |   |   |   |
|                                        | 12/31/2003 | N/A | 16.744 | 841 |
|                                        | 12/31/2004 | 16.744 | 18.596 | 2985 |
|                                        | 12/31/2005 | 18.596 | 20.273 | 6330 |
|                                        | 12/31/2006 | 20.273 | 23.667 | 9141 |
|                                        | 12/31/2007 | 23.667 | 24.148 | 7661 |
|                                        | 12/31/2008 | 24.148 | 14.975 | 1575 |
|                                        | 12/31/2009 | 14.975 | 18.614 | 865 |
|                                        | 12/31/2010 | 18.614 | 20.410 | 468 |
|                                        | 12/31/2011 | 20.410 | 19.917 | 384 |
|                                        | 12/31/2012 | 19.917 | 22.436 | 1544 |
| CON 2 1.60%                                 |   |   |   |   |
|                                        | 12/31/2003 | N/A | 16.397 | 654 |
|                                        | 12/31/2004 | 16.397 | 18.175 | 2302 |
|                                        | 12/31/2005 | 18.175 | 19.775 | 3928 |
|                                        | 12/31/2006 | 19.775 | 23.039 | 4984 |
|                                        | 12/31/2007 | 23.039 | 23.460 | 4065 |
|                                        | 12/31/2008 | 23.460 | 14.520 | 805 |
|                                        | 12/31/2009 | 14.520 | 18.011 | 444 |
|                                        | 12/31/2010 | 18.011 | 19.709 | 260 |
|                                        | 12/31/2011 | 19.709 | 19.195 | 222 |
|                                        | 12/31/2012 | 19.195 | 21.580 | 829 |
| Oppenheimer Global Securities Fund/VA       |
| CON 1 1.40%                                 |   |   |   |   |
|                                        | 12/31/2003 | N/A | 9.748 | 1339 |
|                                        | 12/31/2004 | 9.748 | 11.454 | 2438 |
|                                        | 12/31/2005 | 11.454 | 12.911 | 2068 |
|                                        | 12/31/2006 | 12.911 | 14.985 | 1725 |
|                                        | 12/31/2007 | 14.985 | 15.709 | 1348 |
|                                        | 12/31/2008 | 15.709 | 9.265 | 242 |
|                                        | 12/31/2009 | 9.265 | 12.769 | 146 |
|                                        | 12/31/2010 | 12.769 | 14.602 | 81 |
|                                        | 12/31/2011 | 14.602 | 13.206 | 62 |
|                                        | 12/31/2012 | 13.206 | 15.790 | 175 |
| CON 2 1.60%                                 |   |   |   |   |
|                                        | 12/31/2003 | N/A | 9.441 | 1096 |
|                                        | 12/31/2004 | 9.441 | 11.072 | 1833 |
|                                        | 12/31/2005 | 11.072 | 12.455 | 1536 |
|                                        | 12/31/2006 | 12.455 | 14.427 | 1288 |
|                                        | 12/31/2007 | 14.427 | 15.094 | 958 |
|                                        | 12/31/2008 | 15.094 | 8.884 | 169 |
|                                        | 12/31/2009 | 8.884 | 12.220 | 114 |
|                                        | 12/31/2010 | 12.220 | 13.946 | 67 |
|                                        | 12/31/2011 | 13.946 | 12.588 | 47 |
|                                        | 12/31/2012 | 12.588 | 15.021 | 132 |
| Oppenheimer Global Strategic Income Fund/VA |
| CON 1 1.40%                                 |   |   |   |   |
|                                        | 12/31/2003 | N/A | 11.273 | 238 |
|                                        | 12/31/2004 | 11.273 | 12.113 | 479 |
|                                        | 12/31/2005 | 12.113 | 12.221 | 385 |
|                                        | 12/31/2006 | 12.221 | 13.188 | 324 |
|                                        | 12/31/2007 | 13.188 | 12.990 | 242 |
|                                        | 12/31/2008 | 12.990 | 2.732 | 250 |
|                                        | 12/31/2009 | 2.732 | 3.376 | 300 |
|                                        | 12/31/2010 | 3.376 | 3.822 | 234 |
|                                        | 12/31/2011 | 3.822 | 3.681 | 206 |
|                                        | 12/31/2012 | 3.681 | 27.281 | 25 |
| CON 2 1.60%                                 |   |   |   |   |
|                                        | 12/31/2003 | N/A | 11.367 | 235 |
|                                        | 12/31/2004 | 11.367 | 12.189 | 403 |
|                                        | 12/31/2005 | 12.189 | 12.274 | 316 |
|                                        | 12/31/2006 | 12.274 | 13.217 | 278 |
|                                        | 12/31/2007 | 13.217 | 12.993 | 190 |
|                                        | 12/31/2008 | 12.993 | 2.727 | 37 |
|                                        | 12/31/2009 | 2.727 | 3.363 | 50 |
|                                        | 12/31/2010 | 3.363 | 3.800 | 40 |
|                                        | 12/31/2011 | 3.800 | 3.653 | 46 |
|                                        | 12/31/2012 | 3.653 | 26.227 | 24 |
| Oppenheimer Main Street Fund/VA             |
| CON 1 1.40%                                 |   |   |   |   |
|                                        | 12/31/2003 | N/A | 8.349 | 1376 |
|                                        | 12/31/2004 | 8.349 | 9.012 | 1912 |
|                                        | 12/31/2005 | 9.012 | 9.418 | 1642 |
|                                        | 12/31/2006 | 9.418 | 10.682 | 1376 |
|                                        | 12/31/2007 | 10.682 | 10.999 | 1083 |
|                                        | 12/31/2008 | 10.999 | 6.674 | 208 |
|                                        | 12/31/2009 | 6.674 | 8.442 | 169 |
|                                        | 12/31/2010 | 8.442 | 9.666 | 120 |
|                                        | 12/31/2011 | 9.666 | 9.530 | 84 |
|                                        | 12/31/2012 | 9.530 | 10.982 | 178 |
| CON 2 1.60%                                 |   |   |   |   |
|                                        | 12/31/2003 | N/A | 8.164 | 1316 |
|                                        | 12/31/2004 | 8.164 | 8.794 | 2009 |
|                                        | 12/31/2005 | 8.794 | 9.172 | 1620 |
|                                        | 12/31/2006 | 9.172 | 10.383 | 1329 |
|                                        | 12/31/2007 | 10.383 | 10.669 | 1060 |
|                                        | 12/31/2008 | 10.669 | 6.460 | 198 |
|                                        | 12/31/2009 | 6.460 | 8.156 | 148 |
|                                        | 12/31/2010 | 8.156 | 9.320 | 97 |
|                                        | 12/31/2011 | 9.320 | 9.171 | 75 |
|                                        | 12/31/2012 | 9.171 | 10.547 | 211 |
| PIMCO EqS Pathfinder Portfolio              |
| CON 1 1.40%                                 |   |   |   |   |
|                                        | 12/31/2010 | N/A | 10.337 | 2 |
|                                        | 12/31/2011 | 10.337 | 9.713 | 625 |
|                                        | 12/31/2012 | 9.713 | 10.513 | 1856 |
| CON 2 1.60%                                 |   |   |   |   |
|                                        | 12/31/2010 | N/A | 10.323 | 9 |
|                                        | 12/31/2011 | 10.323 | 9.680 | 356 |
|                                        | 12/31/2012 | 9.680 | 10.457 | 1045 |
| PIMCO VIT All Asset Portfolio               |
| CON 1 1.40%                                 |   |   |   |   |
|                                        | 12/31/2004 | N/A | 11.878 | 2094 |
|                                        | 12/31/2005 | 11.878 | 12.443 | 5307 |
|                                        | 12/31/2006 | 12.443 | 12.842 | 4512 |
|                                        | 12/31/2007 | 12.842 | 13.717 | 3378 |
|                                        | 12/31/2008 | 13.717 | 11.383 | 748 |
|                                        | 12/31/2009 | 11.383 | 13.646 | 573 |
|                                        | 12/31/2010 | 13.646 | 15.218 | 388 |
|                                        | 12/31/2011 | 15.218 | 15.300 | 286 |
|                                        | 12/31/2012 | 15.300 | 17.341 | 658 |

----

| Benefit Option *  | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
|-------------------|----------------------|----------------------------|----------------------|-----------------------------------------------------------|
| Investment Option |

| CON 2 1.60%                                      |       |   |   |   |
|--------------------------------------------------|------------|--------|--------|--------|
|                                             | 12/31/2004 | N/A    | 11.862 | 1382   |
|                                             | 12/31/2005 | 11.862 | 12.401 | 2737   |
|                                             | 12/31/2006 | 12.401 | 12.774 | 2161   |
|                                             | 12/31/2007 | 12.774 | 13.617 | 1664   |
|                                             | 12/31/2008 | 13.617 | 11.277 | 374    |
|                                             | 12/31/2009 | 11.277 | 13.492 | 293    |
|                                             | 12/31/2010 | 13.492 | 15.016 | 253    |
|                                             | 12/31/2011 | 15.016 | 15.067 | 193    |
|                                             | 12/31/2012 | 15.067 | 17.043 | 453    |
| PIMCO VIT CommodityRealReturn Strategy Portfolio |
| CON 1 1.40%                                      |       |   |   |   |
|                                             | 12/31/2005 | N/A    | 11.037 | 1064   |
|                                             | 12/31/2006 | 11.037 | 10.546 | 1731   |
|                                             | 12/31/2007 | 10.546 | 12.816 | 1340   |
|                                             | 12/31/2008 | 12.816 | 7.103  | 524    |
|                                             | 12/31/2009 | 7.103  | 9.913  | 546    |
|                                             | 12/31/2010 | 9.913  | 12.173 | 346    |
|                                             | 12/31/2011 | 12.173 | 11.097 | 176    |
|                                             | 12/31/2012 | 11.097 | 11.531 | 361    |
| CON 2 1.60%                                      |       |   |   |   |
|                                             | 12/31/2005 | N/A    | 11.022 | 547    |
|                                             | 12/31/2006 | 11.022 | 10.511 | 856    |
|                                             | 12/31/2007 | 10.511 | 12.747 | 779    |
|                                             | 12/31/2008 | 12.747 | 7.051  | 252    |
|                                             | 12/31/2009 | 7.051  | 9.821  | 227    |
|                                             | 12/31/2010 | 9.821  | 12.035 | 133    |
|                                             | 12/31/2011 | 12.035 | 10.950 | 66     |
|                                             | 12/31/2012 | 10.950 | 11.356 | 164    |
| PIMCO VIT Emerging Markets Bond Portfolio        |
| CON 1 1.40%                                      |       |   |   |   |
|                                             | 12/31/2005 | N/A    | 10.927 | 587    |
|                                             | 12/31/2006 | 10.927 | 11.776 | 531    |
|                                             | 12/31/2007 | 11.776 | 12.287 | 570    |
|                                             | 12/31/2008 | 12.287 | 10.347 | 154    |
|                                             | 12/31/2009 | 10.347 | 13.324 | 162    |
|                                             | 12/31/2010 | 13.324 | 14.738 | 114    |
|                                             | 12/31/2011 | 14.738 | 15.454 | 57     |
|                                             | 12/31/2012 | 15.454 | 17.966 | 120    |
| CON 2 1.60%                                      |       |   |   |   |
|                                             | 12/31/2005 | N/A    | 10.913 | 302    |
|                                             | 12/31/2006 | 10.913 | 11.736 | 489    |
|                                             | 12/31/2007 | 11.736 | 12.221 | 395    |
|                                             | 12/31/2008 | 12.221 | 10.272 | 76     |
|                                             | 12/31/2009 | 10.272 | 13.200 | 49     |
|                                             | 12/31/2010 | 13.200 | 14.572 | 57     |
|                                             | 12/31/2011 | 14.572 | 15.249 | 38     |
|                                             | 12/31/2012 | 15.249 | 17.692 | 84     |
| PIMCO VIT Global Bond Portfolio(Unhedged)        |
| CON 1 1.40%                                      |       |   |   |   |
|                                             | 12/31/2005 | N/A    | 9.349  | 316    |
|                                             | 12/31/2006 | 9.349  | 9.648  | 771    |
|                                             | 12/31/2007 | 9.648  | 10.440 | 798    |
|                                             | 12/31/2008 | 10.440 | 10.208 | 380    |
|                                             | 12/31/2009 | 10.208 | 11.763 | 298    |
|                                             | 12/31/2010 | 11.763 | 12.952 | 206    |
|                                             | 12/31/2011 | 12.952 | 13.740 | 206    |
|                                             | 12/31/2012 | 13.740 | 14.489 | 242    |
| CON 2 1.60%                                      |       |   |   |   |
|                                             | 12/31/2005 | N/A    | 9.336  | 160    |
|                                             | 12/31/2006 | 9.336  | 9.616  | 299    |
|                                             | 12/31/2007 | 9.616  | 10.385 | 383    |
|                                             | 12/31/2008 | 10.385 | 10.133 | 214    |
|                                             | 12/31/2009 | 10.133 | 11.654 | 153    |
|                                             | 12/31/2010 | 11.654 | 12.806 | 89     |
|                                             | 12/31/2011 | 12.806 | 13.558 | 45     |
|                                             | 12/31/2012 | 13.558 | 14.269 | 76     |
| PIMCO VIT High Yield Portfolio                   |
| CON 1 1.40%                                      |       |   |   |   |
|                                             | 12/31/2003 | N/A    | 11.311 | 1022   |
|                                             | 12/31/2004 | 11.311 | 12.220 | 2269   |
|                                             | 12/31/2005 | 12.220 | 12.548 | 2737   |
|                                             | 12/31/2006 | 12.548 | 13.500 | 2643   |
|                                             | 12/31/2007 | 13.500 | 13.779 | 2003   |
|                                             | 12/31/2008 | 13.779 | 10.389 | 509    |
|                                             | 12/31/2009 | 10.389 | 14.386 | 409    |
|                                             | 12/31/2010 | 14.386 | 16.244 | 264    |
|                                             | 12/31/2011 | 16.244 | 16.557 | 164    |
|                                             | 12/31/2012 | 16.557 | 18.665 | 394    |
| CON 2 1.60%                                      |       |   |   |   |
|                                             | 12/31/2003 | N/A    | 11.654 | 987    |
|                                             | 12/31/2004 | 11.654 | 12.566 | 1665   |
|                                             | 12/31/2005 | 12.566 | 12.877 | 1826   |
|                                             | 12/31/2006 | 12.877 | 13.827 | 1604   |
|                                             | 12/31/2007 | 13.827 | 14.084 | 1200   |
|                                             | 12/31/2008 | 14.084 | 10.597 | 270    |
|                                             | 12/31/2009 | 10.597 | 14.646 | 199    |
|                                             | 12/31/2010 | 14.646 | 16.504 | 158    |
|                                             | 12/31/2011 | 16.504 | 16.789 | 96     |
|                                             | 12/31/2012 | 16.789 | 18.888 | 252    |
| PIMCO VIT Real Return Portfolio                  |
| CON 1 1.40%                                      |       |   |   |   |
|                                             | 12/31/2003 | N/A    | 10.516 | 933    |
|                                             | 12/31/2004 | 10.516 | 11.294 | 4697   |
|                                             | 12/31/2005 | 11.294 | 11.371 | 6670   |
|                                             | 12/31/2006 | 11.371 | 11.294 | 6009   |
|                                             | 12/31/2007 | 11.294 | 12.324 | 4830   |
|                                             | 12/31/2008 | 12.324 | 11.295 | 1433   |
|                                             | 12/31/2009 | 11.295 | 13.187 | 1215   |
|                                             | 12/31/2010 | 13.187 | 14.058 | 782    |
|                                             | 12/31/2011 | 14.058 | 15.482 | 625    |
|                                             | 12/31/2012 | 15.482 | 16.603 | 1174   |
| CON 2 1.60%                                      |       |   |   |   |
|                                             | 12/31/2003 | N/A    | 10.502 | 1112   |
|                                             | 12/31/2004 | 10.502 | 11.257 | 3192   |
|                                             | 12/31/2005 | 11.257 | 11.311 | 4217   |
|                                             | 12/31/2006 | 11.311 | 11.211 | 3601   |
|                                             | 12/31/2007 | 11.211 | 12.209 | 2784   |
|                                             | 12/31/2008 | 12.209 | 11.168 | 889    |
|                                             | 12/31/2009 | 11.168 | 13.012 | 692    |
|                                             | 12/31/2010 | 13.012 | 13.844 | 489    |
|                                             | 12/31/2011 | 13.844 | 15.216 | 343    |
|                                             | 12/31/2012 | 15.216 | 16.285 | 685    |

----

| Benefit Option *  | Period or Year Ended | AUV at Beginning of Period | AUV at End of Period | Number of Accumulation Units Outstanding at End of Period |
|-------------------|----------------------|----------------------------|----------------------|-----------------------------------------------------------|
| Investment Option |

| PIMCO VIT Total Return Portfolio      |
|---------------------------------------|
| CON 1 1.40%                           |   |   |   |   |
|                                  | 12/31/2003 | N/A | 12.715 | 1640 |
|                                  | 12/31/2004 | 12.715 | 13.151 | 3933 |
|                                  | 12/31/2005 | 13.151 | 13.287 | 5954 |
|                                  | 12/31/2006 | 13.287 | 13.607 | 6252 |
|                                  | 12/31/2007 | 13.607 | 14.592 | 5633 |
|                                  | 12/31/2008 | 14.592 | 15.080 | 1857 |
|                                  | 12/31/2009 | 15.080 | 16.963 | 1813 |
|                                  | 12/31/2010 | 16.963 | 18.084 | 1304 |
|                                  | 12/31/2011 | 18.084 | 18.478 | 826 |
|                                  | 12/31/2012 | 18.478 | 19.969 | 1486 |
| CON 2 1.60%                           |   |   |   |   |
|                                  | 12/31/2003 | N/A | 12.888 | 1394 |
|                                  | 12/31/2004 | 12.888 | 13.304 | 2577 |
|                                  | 12/31/2005 | 13.304 | 13.414 | 3373 |
|                                  | 12/31/2006 | 13.414 | 13.710 | 3419 |
|                                  | 12/31/2007 | 13.710 | 14.674 | 2708 |
|                                  | 12/31/2008 | 14.674 | 15.133 | 883 |
|                                  | 12/31/2009 | 15.133 | 16.989 | 773 |
|                                  | 12/31/2010 | 16.989 | 18.076 | 600 |
|                                  | 12/31/2011 | 18.076 | 18.432 | 337 |
|                                  | 12/31/2012 | 18.432 | 19.880 | 722 |
| SP International Growth Portfolio     |
| CON 1 1.40%                           |   |   |   |   |
|                                  | 12/31/2003 | N/A | 5.597 | 281 |
|                                  | 12/31/2004 | 5.597 | 6.409 | 454 |
|                                  | 12/31/2005 | 6.409 | 7.318 | 437 |
|                                  | 12/31/2006 | 7.318 | 8.672 | 379 |
|                                  | 12/31/2007 | 8.672 | 10.186 | 503 |
|                                  | 12/31/2008 | 10.186 | 4.973 | 56 |
|                                  | 12/31/2009 | 4.973 | 6.691 | 35 |
|                                  | 12/31/2010 | 6.691 | 7.510 | 20 |
|                                  | 12/31/2011 | 7.510 | 6.271 | 14 |
|                                  | 12/31/2012 | 6.271 | 7.535 | 67 |
| CON 2 1.60%                           |   |   |   |   |
|                                  | 12/31/2003 | N/A | 5.615 | 262 |
|                                  | 12/31/2004 | 5.615 | 6.416 | 362 |
|                                  | 12/31/2005 | 6.416 | 7.312 | 298 |
|                                  | 12/31/2006 | 7.312 | 8.648 | 250 |
|                                  | 12/31/2007 | 8.648 | 10.138 | 249 |
|                                  | 12/31/2008 | 10.138 | 4.940 | 34 |
|                                  | 12/31/2009 | 4.940 | 6.633 | 18 |
|                                  | 12/31/2010 | 6.633 | 7.429 | 13 |
|                                  | 12/31/2011 | 7.429 | 6.191 | 10 |
|                                  | 12/31/2012 | 6.191 | 7.424 | 50 |
| Templeton Foreign Securities Fund     |
| CON 1 1.40%                           |   |   |   |   |
|                                  | 12/31/2003 | N/A | 18.596 | 92 |
|                                  | 12/31/2004 | 18.596 | 21.734 | 762 |
|                                  | 12/31/2005 | 21.734 | 23.612 | 1240 |
|                                  | 12/31/2006 | 23.612 | 28.278 | 1295 |
|                                  | 12/31/2007 | 28.278 | 32.192 | 1042 |
|                                  | 12/31/2008 | 32.192 | 18.926 | 205 |
|                                  | 12/31/2009 | 18.926 | 25.576 | 124 |
|                                  | 12/31/2010 | 25.576 | 27.341 | 71 |
|                                  | 12/31/2011 | 27.341 | 24.095 | 45 |
|                                  | 12/31/2012 | 24.095 | 28.090 | 179 |
| CON 2 1.60%                           |   |   |   |   |
|                                  | 12/31/2003 | N/A | 18.190 | 48 |
|                                  | 12/31/2004 | 18.190 | 21.217 | 394 |
|                                  | 12/31/2005 | 21.217 | 23.005 | 611 |
|                                  | 12/31/2006 | 23.005 | 27.496 | 632 |
|                                  | 12/31/2007 | 27.496 | 31.239 | 489 |
|                                  | 12/31/2008 | 31.239 | 18.329 | 98 |
|                                  | 12/31/2009 | 18.329 | 24.720 | 57 |
|                                  | 12/31/2010 | 24.720 | 26.372 | 35 |
|                                  | 12/31/2011 | 26.372 | 23.195 | 22 |
|                                  | 12/31/2012 | 23.195 | 26.986 | 98 |
| Templeton Global Bond Securities Fund |
| CON 1 1.40%                           |   |   |   |   |
|                                  | 12/31/2007 | N/A | 32.376 | 382 |
|                                  | 12/31/2008 | 32.376 | 33.906 | 132 |
|                                  | 12/31/2009 | 33.906 | 39.681 | 136 |
|                                  | 12/31/2010 | 39.681 | 44.783 | 123 |
|                                  | 12/31/2011 | 44.783 | 43.777 | 81 |
|                                  | 12/31/2012 | 43.777 | 49.669 | 101 |
| CON 2 1.60%                           |   |   |   |   |
|                                  | 12/31/2007 | N/A | 31.215 | 155 |
|                                  | 12/31/2008 | 31.215 | 32.625 | 92 |
|                                  | 12/31/2009 | 32.625 | 38.105 | 91 |
|                                  | 12/31/2010 | 38.105 | 42.918 | 84 |
|                                  | 12/31/2011 | 42.918 | 41.871 | 58 |
|                                  | 12/31/2012 | 41.871 | 47.410 | 87 |
| Templeton Growth Securities Fund      |
| CON 1 1.40%                           |   |   |   |   |
|                                  | 12/31/2003 | N/A | 19.840 | 91 |
|                                  | 12/31/2004 | 19.840 | 22.699 | 1411 |
|                                  | 12/31/2005 | 22.699 | 24.368 | 3587 |
|                                  | 12/31/2006 | 24.368 | 29.270 | 4987 |
|                                  | 12/31/2007 | 29.270 | 29.538 | 4095 |
|                                  | 12/31/2008 | 29.538 | 16.799 | 794 |
|                                  | 12/31/2009 | 16.799 | 21.718 | 399 |
|                                  | 12/31/2010 | 21.718 | 23.000 | 199 |
|                                  | 12/31/2011 | 23.000 | 21.099 | 201 |
|                                  | 12/31/2012 | 21.099 | 25.187 | 1001 |
| CON 2 1.60%                           |   |   |   |   |
|                                  | 12/31/2003 | N/A | 19.509 | 118 |
|                                  | 12/31/2004 | 19.509 | 22.276 | 1175 |
|                                  | 12/31/2005 | 22.276 | 23.866 | 2235 |
|                                  | 12/31/2006 | 23.866 | 28.610 | 2765 |
|                                  | 12/31/2007 | 28.610 | 28.815 | 2238 |
|                                  | 12/31/2008 | 28.815 | 16.355 | 440 |
|                                  | 12/31/2009 | 16.355 | 21.102 | 229 |
|                                  | 12/31/2010 | 21.102 | 22.302 | 134 |
|                                  | 12/31/2011 | 22.302 | 20.418 | 140 |
|                                  | 12/31/2012 | 20.418 | 24.325 | 547 |

----

|   | PART C - OTHER INFORMATION |
|--------|----------------------------|

|                                                                                                                                                                                                                                                        | a.                                                                                                    | Financial Statements                                                                                                                                                                                                                                                            |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| The following financial statements of the Company are incorporated by reference as exhibit EX-99.A. from Post-Effective Amendment No. 3 to Registrant’s Form N-4 (File Nos. 333-182987 and 811-05618) electronically filed on April 8, 2013.          |
| 1.                                                                                                                                                                                                                                                          | Report of Independent Registered Public Accounting Firm                                               |
| 2.                                                                                                                                                                                                                                                          | Consolidated Balance Sheets – December 31, 2012 and 2011                                        |
| 3.                                                                                                                                                                                                                                                          | Consolidated Statements of Operations – Years ended December 31, 2012, 2011, and 2010           |
| 4.                                                                                                                                                                                                                                                          | Consolidated Statements of Comprehensive Income – Years ended December 31, 2012, 2011, and 2010 |
| 5.                                                                                                                                                                                                                                                          | Consolidated Statements of Stockholder's Equity – Years ended December 31, 2012, 2011, and 2010 |
| 6.                                                                                                                                                                                                                                                          | Consolidated Statements of Cash Flows – Years ended December 31, 2012, 2011, and 2010           |
| 7.                                                                                                                                                                                                                                                          | Notes to Consolidated Financial Statements – December 31, 2012 and 2011                         |
| 8.                                                                                                                                                                                                                                                          | Supplemental Schedules:                                                                               |
|                                                                                                                                                                                                                                                        | –                                                                                               | Schedule I – Summary of Investments – Other than Investments in Related Parties                                                                                                                                                                                     |
|                                                                                                                                                                                                                                                        | –                                                                                               | Schedule II – Supplementary Insurance Information                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                        | –                                                                                               | Schedule II – Supplementary Insurance Information-amended, incorporated by reference as exhibit EX-99.A.8. from Post-Effective Amendment No. 4 to Registrant’s Form N-4 (File Nos. 333-182987 and 811-05618) electronically filed on April 11, 2013.                |
|                                                                                                                                                                                                                                                        | –                                                                                               | Schedule III – Reinsurance                                                                                                                                                                                                                                                |
| The following financial statements of the Variable Account are incorporated by reference as exhibit EX-99.A. from Post-Effective Amendment No. 3 to Registrant’s Form N-4 (File Nos. 333-182987 and 811-05618) electronically filed on April 8, 2013. |
| 1.                                                                                                                                                                                                                                                          | Report of Independent Registered Public Accounting Firm                                               |
| 2.                                                                                                                                                                                                                                                          | Statements of Assets and Liabilities – December 31, 2012                                        |
| 3.                                                                                                                                                                                                                                                          | Statements of Operations – For the year ended December 31, 2012                                 |
| 4.                                                                                                                                                                                                                                                          | Statements of Changes in Net Assets – For the year ended December 31, 2012 and 2011             |
| 5.                                                                                                                                                                                                                                                          | Notes to the Financial Statements – December 31, 2012                                           |
|                                                                                                                                                                                                                                                        | b.                                                                                                    | Exhibits                                                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                                                        | 1.                                                                                                    | 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. |
|                                                                                                                                                                                                                                                        | 2.                                                                                                    | Not Applicable                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                        | 3.                                                                                                    | a.                                                                                                                                                                                                                                                                              | Principal Underwriter Agreement by and between North American Life and Casualty Company on behalf of NALAC Financial Plans, Inc. dated September 14, 1988 incorporated by reference as exhibit EX-99.B3.a. 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.) |
|                                                                                                                                                                                                                                                        |                                                                                                  | b.                                                                                                                                                                                                                                                                              | Broker-Dealer Agreement between North American Life and Casualty Company and NALAC Financial Plans, Inc. dated November 19, 1987; Amendment #1 dated April 12, 2000; Amendment #2 dated September 30, 2002; Amendment #3 dated October 1, 2003 incorporated by reference as exhibit EX-99.B3.b. 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.(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.) |
|                                                                                                                                                                                                                                                        |                                                                                                  | c.                                                                                                                                                                                                                                                                              | 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 incorporated by reference as exhibit EX-99.B3.b. from the Initial Registration Statement to Registrant's Form N-4 (file Nos. 333-134267 and 811-05618), electronically filed on May 19, 2006.The underwriter has executed versions of the agreement with approximately 2,100 retail brokers. |
|                                                                                                                                                                                                                                                        | 4.                                                                                                    | a.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | b.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | c.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | d.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | e.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | f.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | g.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | h.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | i.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | j.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | k.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | l.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        | 5.                                                                                                    | a.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        | 6.                                                                                                    | (i).                                                                                                                                                                                                                                                                            | The Restated Articles of Incorporation of the Company (as amended August 1, 2006) incorporated by reference as exhibit EX-99.B6.i. 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | (ii).                                                                                                                                                                                                                                                                           | The Restated Bylaws of the Company (as amended August 1, 2006) incorporated by reference as exhibit EX-99.B6.ii. 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. |
|                                                                                                                                                                                                                                                        | 7.                                                                                                    | Not Applicable                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                        | 8.                                                                                                    | a.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | b.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | c.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | d.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | e.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | f.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | g.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | h.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | i.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | j.                                                                                                                                                                                                                                                                              | 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.B8.h. from Post-Effective Amendment No. 3 to Registrant's Allianz Life Variable Account A's Form N-6 (File Nos. 333-60206 and 811-04965), electronically filed on January 6, 2003. |
|                                                                                                                                                                                                                                                        |                                                                                                  | k.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | l.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | m.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | n.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | o.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | p.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | q.                                                                                                                                                                                                                                                                              | Participation Agreement between Premier VIT, Allianz Life Insurance Company of North America and Allianz Global Investors Distributors LLC, dated 5/1/2006 incorporated by reference as exhibit EX-99.B8.ai. from Pre-Effective Amendment No.1 to Registrant's Form N-4 (File Nos. 333-134267 and 811-05618), electronically filed on September 25, 2006. |
|                                                                                                                                                                                                                                                        |                                                                                                  | r.                                                                                                                                                                                                                                                                              | Administrative Service Agreement between OpCap Advisors LLC and Allianz Life Insurance Company of North America, dated 5/1/2006 incorporated by reference as exhibit EX-99.B8.aj. from Pre-Effective Amendment No.1 to Registrant's Form N-4 (File Nos. 333-134267 and 811-05618), electronically filed on September 25, 2006. |
|                                                                                                                                                                                                                                                        |                                                                                                  | s.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | t.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | u.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | v.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | w.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | x.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | y.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | z.                                                                                                                                                                                                                                                                              | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | aa.                                                                                                                                                                                                                                                                             | 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.q. 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | ab.                                                                                                                                                                                                                                                                             | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | ac.                                                                                                                                                                                                                                                                             | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | ad.                                                                                                                                                                                                                                                                             | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | ae.                                                                                                                                                                                                                                                                             | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | af.                                                                                                                                                                                                                                                                             | Distribution Services Agreement between Allianz Life Insurance Company of North America and Allianz Global Investors Distributors, LLC, dated 01/01/2007 incorporated by reference as exhibit EX-99.B8.x. 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | ag.                                                                                                                                                                                                                                                                             | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | ah.                                                                                                                                                                                                                                                                             | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | ai.                                                                                                                                                                                                                                                                             | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | aj.                                                                                                                                                                                                                                                                             | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | ak.                                                                                                                                                                                                                                                                             | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | al.                                                                                                                                                                                                                                                                             | 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  | am.                                                                                                                                                                                                                                                                             | 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.x. from Post-Effective Amendment No. 12 to Registrant’s Form N-4 (File Nos. 333-171427 and 811-05618) electronically filed on January 28, 2013. |
|                                                                                                                                                                                                                                                        |                                                                                                  | an.                                                                                                                                                                                                                                                                             | 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.x. from Post-Effective Amendment No. 12 to Registrant’s Form N-4 (File Nos. 333-171427 and 811-05618) electronically filed on January 28, 2013. |
|                                                                                                                                                                                                                                                        | 9.*                                                                                                   | Opinion and Consent of Counsel                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                        | 10.*                                                                                                  | Consent of Independent Registered Public Accounting Firm                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                                                        | 11.                                                                                                   | Not Applicable                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                        | 12.                                                                                                   | Not Applicable                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                        | 13.                                                                                                   | a.                                                                                                                                                                                                                                                                              | Power of Attorney incorporated by reference as exhibit EX-99.B13. from Post-Effective Amendment No. 19 to Registrant's Form N-4 (File Nos. 333-139701 and 811-05618), electronically filed on February 10, 2010. |
|                                                                                                                                                                                                                                                        |                                                                                                  | b.                                                                                                                                                                                                                                                                              | Power of Attorney-Walter White, incorporated by reference as exhibit EX-99.B13.b. from Post-Effective Amendment No. 6 to Registrant’s Form N-4 (File Nos. 333-171427 and 811-05618) electronically filed on February 16, 2012. |
|                                                                                                                                                                                                                                                        |                                                                                                  | c.                                                                                                                                                                                                                                                                              | Power of Attorney-Marna C. Whittington, incorporated by reference as exhibit EX-99.B13.c. 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. |
|                                                                                                                                                                                                                                                        |                                                                                                  |                                                                                                                                                                                                                                                                            |
|                                                                                                                                                                                                                                                        | *                                                                                                     | Filed herewith                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                        |                                                                                                  |                                                                                                                                                                                                                                                                            |

| Unless noted otherwise, all officers and directors have the following principal business address: |
|---------------------------------------------------------------------------------------------------|
| 5701 Golden Hills Drive                                                                           |
| Minneapolis, MN 55416-1297                                                                        |
| The following are the Officers and Directors of the Company:                                      |
|                                                                                              |
| Name and Principal Business Address                                                               | Positions and Offices with Depositor |
| Walter R. White                                                                                   | Director, President and Chief Executive Officer |
| Giulio Terzariol                                                                                  | Director, Senior Vice President and Chief Financial Officer |
| Thomas P. Burns                                                                                   | Senior Vice President, Chief Distribution Officer |
| Neil H. McKay                                                                                     | Senior Vice President, Chief Actuary |
| Gretchen Cepek                                                                                    | Senior Vice President, Secretary and General Counsel |
| Carsten Quitter                                                                                   | Senior Vice President, Chief Investment Officer |
| Cathy Mahone                                                                                      | Senior Vice President, Chief Administrative Officer |
| Nancy E. Jones                                                                                    | Senior Vice President, Chief Marketing Officer |
| Patrick L. Nelson                                                                                 | Vice President, Chief Suitability Officer |
| Nicole A. Scanlon                                                                                 | Vice President, Controller |
| Gary C. Bhojwani                                                                                  | Director and Chairman of the Board |
| Michael P. Sullivan500 IDS Center80 South 8th StreetMinneapolis, MN 55402                         | Director |
| Dale E. Lauer14103 205th Ave. NEWoodinville, WA 98077                                             | Director |
| Marna C. Whittington2959 Barley MillYorklyn, DE 19736                                             | Director |

| 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. |

| a.                                                                                                                                                                                                                                                                                                                                                                                                       | 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                                                                                                                                                                                                                                                                                                                                                                    |
| b.                                                                                                                                                                                                                                                                                                                                                                                                       | 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                                                                                                                                                                                                                                                                                                                                                                                  |
| Minneapolis, MN 55416-1297                                                                                                                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                                                                                                                                     |
| Name                                                                                                                                                                                                                                                                                                                                                                                                     | Positions and Offices with Underwriter                                                                                                                                                          |
| Robert DeChellis                                                                                                                                                                                                                                                                                                                                                                                         | Governor, Chief Executive Officer and President                                                                                                                                                 |
| Thomas Burns                                                                                                                                                                                                                                                                                                                                                                                             | Governor                                                                                                                                                                                        |
| Catherine A. Mahone                                                                                                                                                                                                                                                                                                                                                                                      | Governor                                                                                                                                                                                        |
| Giulio Terzariol                                                                                                                                                                                                                                                                                                                                                                                         | Governor                                                                                                                                                                                        |
| Kristine Starkman                                                                                                                                                                                                                                                                                                                                                                                        | Chief Compliance Officer                                                                                                                                                                        |
| Jasmine Jirele                                                                                                                                                                                                                                                                                                                                                                                           | Chief Operating Officer and Senior Vice President                                                                                                                                               |
| Angie Forsman                                                                                                                                                                                                                                                                                                                                                                                            | Vice President, Chief Financial Officer                                                                                                                                                         |
| Robert Densmore                                                                                                                                                                                                                                                                                                                                                                                          | Senior Vice President                                                                                                                                                                           |
| Corey Walther                                                                                                                                                                                                                                                                                                                                                                                            | Senior Vice President                                                                                                                                                                           |
| Michael Brandriet                                                                                                                                                                                                                                                                                                                                                                                        | Senior Vice President                                                                                                                                                                           |
| Jennifer Sosniecki                                                                                                                                                                                                                                                                                                                                                                                       | Money Laundering Prevention Officer                                                                                                                                                             |
| Michael G. Brennan                                                                                                                                                                                                                                                                                                                                                                                       | Vice President, Compliance                                                                                                                                                                      |
| Steve Miller                                                                                                                                                                                                                                                                                                                                                                                             | Assistant Vice President                                                                                                                                                                        |
| Theodore C. Cadwell, Jr.                                                                                                                                                                                                                                                                                                                                                                                 | Secretary                                                                                                                                                                                       |
| Tracy M. Hardy                                                                                                                                                                                                                                                                                                                                                                                           | Assistant Secretary                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                     |                                                                                                                                                                                            |
| c.                                                                                                                                                                                                                                                                                                                                                                                                       | For the period 1-1-2012 to 12-31-2012                                                                                                                                                           |
| Name of Principal Underwriter                                                                                                                                                                                                                                                                                                                                                                            | Net Underwriting Discounts and Commissions                                                                                                                                                      | Compensation on Redemption | Brokerage Commissions | Compensation |
| Allianz Life Financial Services, LLC                                                                                                                                                                                                                                                                                                                                                                     | $256,459,224.79                                                                                                                                                                                 | $0 | $0 | $0 |
| The $256,459,224.79 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. |

| a. | Registrant hereby undertakes to file a post-effective amendment to this registration statement as frequently as is necessary to ensure that the audited financial statements in the registration statement are never more than sixteen (16) months old for so long as payment under the variable annuity contracts may be accepted. |
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| b. | Registrant hereby undertakes to include either (1) as part of any application to purchase a contract offered by the prospectus, a space that an applicant can check to request a Statement of Additional Information, or (2) a postcard or similar written communication affixed to or included in the prospectus that the applicant can remove to send for a Statement of Additional Information. |
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| c. | Registrant hereby undertakes to deliver any Statement of Additional Information and any financial statements required to be made available under this Form promptly upon written or oral request. |
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| 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; |
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| 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; |
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| 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; |
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| 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. |
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| Signature               | Title                                                       |
|-------------------------|-------------------------------------------------------------|
| Gary C. Bhojwani(1)     | Director and Chairman of the Board                          |
| Walter R. White(2)      | Director, President & Chief Executive Officer           |
| Giulio Terzariol(1)     | Director, Senior Vice President and Chief Financial Officer |
| Michael P. Sullivan(1)  | Director                                                    |
| Dale E. Lauer(1)        | Director                                                    |
| Marna C. Whittington(3) | Director                                                    |

| (1) | By Power of Attorney incorporated by reference as exhibit EX-99.B13 from Post-Effective Amendment No. 19 to Registrant's Form N-4 (File Nos. 333-139701 and 811-05618) electronically filed on February 10, 2010. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | By Power of Attorney incorporated by reference as exhibit EX-99.B13.b. from Post-Effective Amendment No. 6 to Registrant’s Form N-4 (File Nos. 333-171427 and 811-05618) electronically filed on February 16, 2012. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | By Power of Attorney incorporated by reference as exhibit EX-99.B13.c. 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. |
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| INDEX TO EXHIBITS |
|-------------------|
| EX-99.B9.         | Opinion and Consent of Counsel |
| EX-99.B10.        | Consent of Independent Registered Public Accounting Firm |

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