# EDGAR Filing Document

**Accession Number:** 0000836346
**File Stem:** 0000836346-26-000058
**Filing Date:** 2026-4
**Character Count:** 71688
**Document Hash:** d514c166fea0f6f5c356dee3ff9de453
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000836346-26-000058.hdr.sgml**: 20260422

**ACCESSION NUMBER**: 0000836346-26-000058

**CONFORMED SUBMISSION TYPE**: 497VPU

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260422

**DATE AS OF CHANGE**: 20260422

**EFFECTIVENESS DATE**: 20260422

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALLIANZ LIFE VARIABLE ACCOUNT B
- **CENTRAL INDEX KEY:** 0000836346

**ORGANIZATION NAME:**
- **EIN:** 411366075
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497VPU
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-185866
- **FILM NUMBER:** 26883339

**BUSINESS ADDRESS:**
- **STREET 1:** 5701 GOLDEN HILLS DRIVE
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55416-1297
- **BUSINESS PHONE:** 800-328-5600

**MAIL ADDRESS:**
- **STREET 1:** 5701 GOLDEN HILLS DRIVE
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55416-1297

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NALAC VARIABLE ACCOUNT B
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### ALLIANZ LIFE VARIABLE ACCOUNT B (Series ID: S000002612)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000124821 | Allianz Index Advantage |  |

**ALLIANZ Index Advantage**<sup>®</sup> **Variable ANNUITY CONTRACT** 

Issued by Allianz Life Insurance Company of North America (Allianz Life, we, us, our)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Updating Summary Prospectus** 

**THE CONTRACT IS NO LONGER OFFERED FOR SALE TO NEW INVESTORS.**<br> **We continue to administer the in force Contracts.** <br>

This Summary Prospectus summarizes key features of an individual flexible purchase payment index-linked and variable deferred annuity contract (Contract). **The Contract is a complex investment and involves risks. You may lose money, including your principal investment and previously credited earnings.**

The Statutory Prospectus for the Contract contains more information about the Contract, including its features, benefits, and risks. You can find this Statutory Prospectus and other information about the Contract online at https://www.allianzlife.com/what-we-offer/annuities/prospectuses. You can also obtain this information at no cost by calling (800) 624-0197 or by sending an email request to prospectus.request@allianzlife.com.

Each available Index Option offers a certain level of protection against Index losses used in the calculation of Credits. Certain Index Options offer complete protection from Index losses. Other Index Options have a Buffer or Floor feature that provides limited protection from Index losses.

● We currently offer Index Options with Buffers of 10% or 20% or with a Floor of -10%. **If there is poor Index performance, you could lose up to 80% to 90% of your investment in an Index Option with a Buffer after taking into account the Buffer protection and up to 10% of your investment in an Index Option with a Floor after taking into account the Floor protection. Cumulative losses over the life of the Contract could be greater.**

● The current limit on Index loss for an Index Option will not change for the life of that Index Option. However, we reserve the right to add new Index Options, as well as close Index Options to new Purchase Payments and transfers. As such, the limits on Index loss offered under the Contract may change from one Term to the next if we add an Index Option or discontinue accepting new allocations into an Index Option.

● If we offer a new Index Option with a Buffer or Floor in the future, the Buffer or Floor will be no lower than 5% or -25%, respectively.

Each available Index Option also has an upside feature, either a DPSC, Precision Rate, Cap, and/or Participation Rate, used in the calculation of Credits.

● **We may limit the amount you can earn on an Index Option based on the DPSC, Precision Rate, Cap, or Participation Rate, as applicable.**

● **The lowest DPSC, Precision Rate, Cap, and Participation Rate that we may establish if we add a new Index Option to the Contract are 0.05%, 0.10%, 0.10%, and 5.00%, respectively.**

**This Contract is not a short-term investment and is not appropriate if you need ready access to cash. Withdrawals could result in withdrawal charges, negative Daily Adjustments, taxes, and tax penalties. The maximum potential loss from a negative Daily Adjustment is either -99% or -35% depending on the Index Option.**

All obligations and guarantees under the Contract, including Credits, are the obligations of Allianz Life and are subject to our claims-paying ability and financial strength.

***The Securities and Exchange Commission (SEC) has not approved or disapproved these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense. An investment in this Contract is not a deposit of a bank or financial institution and is not federally insured or guaranteed by the Federal Deposit Insurance Corporation or any other federal government agency. An investment in this Contract involves investment risk including the possible loss of principal.***

Additional information about certain investment products, including index-linked and variable annuities, has been prepared by the SEC's staff and is available at https://www.investor.gov.

Dated: May 1, 2026

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**Allianz Index Advantage**<sup>®</sup> **Variable Annuity Prospectus – May 1, 2026**

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**TABLE OF CONTENTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **[Glossary](#xx_d4b671df-9f48-4478-866d-49e12a64d931_1)** | **3**  |
| **[Updated Information About Your Contract](#xx_7d99002c-c577-48bc-95ef-bfa380adee19_1)** | **7**  |
| **[Important Information You Should Consider About the](#xx_2bf550cd-0a44-46a9-88ba-399f64cbea1c_1)**<br> **[Contract](#xx_2bf550cd-0a44-46a9-88ba-399f64cbea1c_1)** | **8**  |

---

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| | | |
|:---|:---|:---|
| **[Appendix A – Investment Options Available Under the](#xx_bdb1b94d-2e73-4fbf-8251-0d7562e39076_1)**<br> **[Contract](#xx_bdb1b94d-2e73-4fbf-8251-0d7562e39076_1)** | **[Appendix A – Investment Options Available Under the](#xx_bdb1b94d-2e73-4fbf-8251-0d7562e39076_1)**<br> **[Contract](#xx_bdb1b94d-2e73-4fbf-8251-0d7562e39076_1)** | **13**  |
|  | [Variable Options](#xx_bdb1b94d-2e73-4fbf-8251-0d7562e39076_1) | 13  |
|  | [Index Options](#xx_bdb1b94d-2e73-4fbf-8251-0d7562e39076_1) | 13  |

---

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**Allianz Index Advantage**<sup>®</sup> **Variable Annuity Prospectus – May 1, 2026**

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Glossary

This prospectus is written in plain English. However, there are some technical words or terms that are capitalized and are used as defined terms throughout the prospectus. For your convenience, we included this glossary to define these terms.

**NOTE: Cross references in this Updating Summary Prospectus are to the sections of the Statutory Prospectus** <br> **where you can find more detailed information.**<br>

**Accumulation Phase** – the first phase of your Contract before you request Annuity Payments. The Accumulation Phase begins on the Issue Date.

**Annuity Phase** – the phase the Contract is in once Annuity Payments begin.

**Buffer** – for each Index Option with the Index Precision Strategy and Index Performance Strategy, this is the negative Index Return that we absorb over the duration of a Term (which can be either one, three, or six years) before applying a negative Performance Credit. We do **<u>not</u>** apply the Buffer annually on a 3-year or 6-year Term Index Option. The Index Precision Strategy Buffers are 10%, and Index Performance Strategy Buffers are either 10% or 20%. Buffers do not change. Restrictions on the availability of the Buffers are discussed in Appendix A – Investment Options Available Under the Contract and in Appendix F – Material Contract Variations by State and Issue Date.

**Cap** – for any Index Option with the Index Performance Strategy or Index Guard Strategy, this is the upper limit on positive Index performance after application of any Participation Rate over the duration of a Term (which can be either one, three, or six years) and the maximum potential Performance Credit for an Index Option. We do **<u>not</u>** apply the Cap annually on a 3-year or 6-year Term Index Option. On each Term Start Date, we set a Cap for each Index Option with the Index Performance Strategy and Index Guard Strategy. The Caps applicable to your Contract are shown on the Index Options Statement.

**Charge Base** – the Contract Value on the preceding Quarterly Contract Anniversary (or the initial Purchase Payment received on the Issue Date if this is before the first Quarterly Contract Anniversary), increased by the dollar amount of subsequent Purchase Payments, and reduced proportionately for subsequent withdrawals you take or financial adviser fees that you choose to have us pay from this Contract (including any withdrawal charge) and deductions we make for Contract fees and expenses. All withdrawals you take reduce the Charge Base, even Penalty-Free Withdrawals. We use the Charge Base to determine the next product fee and rider fee (if applicable) we deduct.

**Contract** – the individual flexible purchase payment index-linked and variable deferred annuity contract described by this prospectus. The Contract may also be referred to as a registered index-linked annuity, or "RILA".

**Contract Value** – the current value of the Purchase Payments you invest. On any Business Day, your Contract Value is the sum of your Index Option Value(s) and Variable Account Value. Variable Account Value fluctuates each Business Day that money is held in the Variable Options. Index Option Value is increased or decreased on each Term End Date to reflect Credits, which can be negative with the Index Precision Strategy, Index Guard Strategy, and Index Performance Strategy. **A negative Credit means that you can lose principal and previous earnings.** The Index Option Values for each Index Option with the Index Precision Strategy, Index Guard Strategy, and Index Performance Strategy also reflect the Daily Adjustment on every Business Day other than the Term Start Date or Term End Date. All withdrawals you take reduce Contract Value dollar for dollar, even Penalty-Free Withdrawals, and financial adviser fees that you choose to have us pay from this Contract. Contract Value is also reduced dollar for dollar for deductions we make for Contract fees and expenses. However, Contract Value does not reflect future fees and expenses we would apply on surrender. The cash surrender value reflects all Contract fees and expenses we would apply on surrender (including any withdrawal charge), as well as any applicable Daily Adjustment.

**Contract Year** – any period of twelve months beginning on the Issue Date or a subsequent Contract Anniversary.

**Credit** – the return you receive on the Term End Date when you allocate Purchase Payments or transfer Contract Value to an Index Option. Credits may be positive, zero, or, in some instances, negative if you select the Index Precision Strategy, Index Guard Strategy, or Index Performance Strategy. **A negative Credit means that you can lose principal and previous earnings.**

**Daily Adjustment** – how we calculate Index Option Values on days other than the Term Start Date or Term End Date for each Index Option with the Index Precision Strategy, Index Guard Strategy, and Index Performance Strategy as discussed in section 7, Expenses and Adjustments – Daily Adjustment for the Index Precision Strategy, Index Guard Strategy, and

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**Allianz Index Advantage**<sup>®</sup> **Variable Annuity Prospectus – May 1, 2026**

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Index Performance Strategy; and Appendix C. The Daily Adjustment approximates the Index Option Value that will be available on the Term End Date. It is the estimated present value of the future Performance Credit that we will apply on the Term End Date.

**Declared Protection Strategy Credit (DPSC)** – the positive Credit you receive on a Term End Date for any Index Option with the Index Protection Strategy if Index performance is zero or positive. You receive a Credit equal to the DPSC on the Term End Date if the current Index Value is equal to or greater than the Index Value on the Term Start Date. You will not receive a negative Credit if the Index Value decreases from the Term Start Date to the Term End Date. We set the DPSCs on each Term Start Date. This method of calculation is also referred to as "step-up". The DPSCs applicable to your Contract are shown on the Index Options Statement. On our website and in other materials you may receive, "Trigger Rate" may be used to describe the DPSC that can change on each Term Start Date, and "Performance Credit" may be used to describe the DPSC you receive on a Term End Date.

**Financial Professional** – the person who advises you regarding the Contract.

**Floor** – for any Index Option with the Index Guard Strategy, this is the maximum amount of negative Index Return you absorb as a negative Performance Credit. The Floors are -10% and do not change.

**Fund(s)** –the underlying fund in which a Variable Option invests.

**Guaranteed Death Benefit Value** – the guaranteed value that is available to your Beneficiary(ies) on the first death of any Determining Life during the Accumulation Phase. The Guaranteed Death Benefit Value is either total Purchase Payments reduced proportionately for withdrawals you take (including any withdrawal charge) if you select the Traditional Death Benefit, or the Maximum Anniversary Value if you select the Maximum Anniversary Value Death Benefit. All withdrawals you take reduce the Guaranteed Death Benefit Value, even Penalty-Free Withdrawals, and any financial adviser fees that you choose to have us pay from this Contract. However, we do not reduce the Guaranteed Death Benefit Value for deductions we make for Contract fees and expenses. These deductions will, however, reduce the Contract Value we use to calculate the Maximum Anniversary Value.

**Index (Indexes)** – one (or more) of the nationally recognized third-party broad based equity securities price return Indexes or exchange-traded fund available to you under your Contract as described in Appendix B.

**Index Anniversary** – a twelve-month anniversary of the Index Effective Date or any subsequent Index Anniversary.

**Index Effective Date** – the first day we allocate assets to an Index Option. The Index Effective Date is stated on the Index Options Statement and starts the first Index Year. You selected the Index Effective Date when you purchased the Contract.

**Index Guard Strategy** – one of the Crediting Methods described in section 4, Index Options. The Index Guard Strategy calculates Performance Credits based on Index Returns subject to a Cap and -10% Floor. You can receive negative Performance Credits under this Crediting Method, which means you can lose principal and previous earnings. Restrictions on the availability of the Index Guard Strategy are discussed in Appendix A – Investment Options Available Under the Contract and in Appendix F – Material Contract Variations by State and Issue Date.

**Index Option(s)** – the index-linked investments available to you under the Contract. Each Index Option is the combination of an Index, a Crediting Method, a Term length, and any applicable Buffer or Floor amount.

**Index Option Base** – an amount we use to calculate Credits and the Daily Adjustment. The Index Option Base is initially equal to the amounts you allocate to an Index Option. We reduce the Index Option Base proportionately for withdrawals you take and any financial adviser fees that you choose to have us pay from this Contract (including any withdrawal charge), and deductions we make for Contract fees and expenses. We increase/decrease it by the dollar amount of additional Purchase Payments allocated to the Index Option, transfers into or out of the Index Option, and any Credits.

**Index Option Value** – on any Business Day, it is equal to the portion of your Contract Value in a particular Index Option. We establish an Index Option Value for each Index Option you select. Each Index Option Value includes any Credits from previous Term End Dates and reflects proportional reductions for previous partial withdrawals you take and any financial adviser fees that you choose to have us pay from this Contract (including any withdrawal charge), and previous deductions we made for Contract fees and expenses. On each Business Day, other than the Term Start Date or Term End Date, the Index Option Values for each Index Option with the Index Precision Strategy, Index Guard Strategy, and Index Performance Strategy also include an increase/decrease from the Daily Adjustment.

**Index Performance Strategy** – one of the Crediting Methods described in section 4, Index Options. This Crediting Method offers 1-year, 3-year, and 6-year Terms. The Index Performance Strategy calculates Performance Credits based on

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**Allianz Index Advantage**<sup>®</sup> **Variable Annuity Prospectus – May 1, 2026**

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Index Returns subject to any applicable Participation Rate, Cap, and a 10% or 20% Buffer. You can receive negative Performance Credits under this Crediting Method, which means you can lose principal and previous earnings. Restrictions on the availability of the Index Performance Strategy Index Options are discussed in Appendix A – Investment Options Available Under the Contract and in Appendix F – Material Contract Variations by State and Issue Date.

**Index Precision Strategy** – one of the Crediting Methods described in section 4, Index Options. The Index Precision Strategy calculates Performance Credits based on Index Values and Index Returns subject to the Precision Rate and 10% Buffer. You can receive negative Performance Credits under this Crediting Method, which means you can lose principal and previous earnings. Restrictions on the availability of the Index Precision Strategy are discussed in Appendix A – Investment Options Available Under the Contract and in Appendix F – Material Contract Variations by State and Issue Date.

**Index Protection Strategy** – one of the Crediting Methods described in section 4, Index Options. The Index Protection Strategy provides Credits equal to the DPSC on the Term End Date if the current Index Value is equal to or greater than the Index Value on the Term Start Date. The Index Protection Strategy does not allow negative Credits. On our website and in other materials you may receive, "Index Protection Strategy with Trigger" may be used to describe the Index Protection Strategy.

**Index Return** – the percentage change in Index Value from the Term Start Date to the Term End Date, which we use to determine the Credits. The Index Return is the Index Value on the Term End Date, minus the Index Value on the Term Start Date, divided by the Index Value on the Term Start Date. This method of calculation is also referred to as "point-to-point".

**Index Value** – an Index's closing market price at the end of the Business Day on the Term Start Date and Term End Date as provided by Bloomberg or another market source if Bloomberg is not available.

**Investment Options** – the Index Options and Variable Options available under the Contract. In your Contract, Investment Options are called "Allocation Options".

**Issue Date** – the date we issued the Contract. The Issue Date is stated in your Contract and starts your first Contract Year. Contract Anniversaries and Contract Years are measured from the Issue Date.

**Maximum Anniversary Value Death Benefit** – an optional benefit described in section 11 that has an additional rider fee and is intended to potentially provide a death benefit greater than the Traditional Death Benefit.

**Non-Qualified Contract** – a Contract that is not a Qualified Contract.

**Owner** – "you," "your" and "yours." The person(s) or entity designated at Contract issue and named in the Contract who may exercise all rights granted by the Contract.

**Participation Rate** – a percentage that is multiplied by any positive Index Return over the course of a Term in calculating the Performance Credit on the Term End Date. Participation Rates are used with the Index Performance Strategy and there is one Participation Rate per Index Option. The Participation Rate is only available on the Index Performance Strategy 3-year and 6-year Terms to Contracts issued since April 30, 2021. The Participation Rate is not available on Index Performance Strategy 1-year Terms, or on 3-year Terms that were available to Contracts issued before April 30, 2021. Index Options with a Participation Rate may allow you to receive more than the Index Return if the Index Return is positive, but the Participation Rate cannot boost Index Returns beyond any declared Cap. We do **<u>not</u>** apply the Participation Rate if the Index Return is zero or negative. We do **<u>not</u>** apply the Participation Rate annually. This method of calculation is also referred to as "enhanced upside". We set Participation Rates on each Term Start Date. The Participation Rates applicable to your Contract are shown on the Index Options Statement.

**Performance Credit** – the Credit you receive on a Term End Date from the Index Precision Strategy, Index Guard Strategy, and Index Performance Strategy Index Options. We base Performance Credits on Index Values and Index Returns after application of any Participation Rate up to the Cap, any Precision Rate, or any Buffer or Floor. **Performance Credits can be negative. If Performance Credits are negative, you can lose principal and previous earnings.**

**Performance Lock** – a feature that allows you to capture the current Index Option Value during the Term for each Index Option with the Index Precision Strategy, Index Guard Strategy, and Index Performance Strategy. A Performance Lock applies to the total Index Option Value in an Index Option, and not just a portion of that Index Option Value. After the Lock Date, Daily Adjustments do not apply to a locked Index Option for the remainder of the Term and the locked Index Option Value will not receive a Performance Credit on the Term End Date.

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**Allianz Index Advantage**<sup>®</sup> **Variable Annuity Prospectus – May 1, 2026**

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**Precision Rate** – the positive Performance Credit you receive for any Index Option with the Index Precision Strategy if Index performance is zero or positive. You receive a Performance Credit equal to the Precision Rate on the Term End Date if the current Index Value is equal to or greater than the Index Value on the Term Start Date. We set a Precision Rate for each Index Precision Strategy Index Option on each Term Start Date. This method of calculation is also referred to as "step-up". The Precision Rates applicable to your Contract are shown on the Index Options Statement. On our website and in other materials you may receive, "Trigger Rate" may be used to describe the Precision Rate.

**Purchase Payment** – the money you put into the Contract.

**Qualified Contract** – a Contract that qualifies for special tax treatment under sections of the Internal Revenue Code (Code).

**Term** – the period of time, from the Term Start Date to the Term End Date, in which we measure Index Return to determine Credits.

**Term End Date –** the day on which a Term ends and we apply Credits. A Term End Date may only occur on an Index Anniversary. If a Term End Date does not occur on a Business Day, we consider it to occur on the next Business Day.

**Term Start Date –** the day on which a Term begins, and we set the DPSCs, Precision Rates, Caps, and Participation Rates for an Index Option. A Term Start Date may only occur on the Index Effective Date or an Index Anniversary. If a Term Start Date does not occur on a Business Day, we consider it to occur on the next Business Day.

**Traditional Death Benefit** – the guaranteed death benefit automatically provided by the Contract for no additional fee described in section 11.

**Variable Option(s)** – the subaccounts of the Separate Account and the variable investment options available under the Contract. Each Variable Option invests exclusively in the shares of its corresponding underlying Fund.

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**Allianz Index Advantage**<sup>®</sup> **Variable Annuity Prospectus – May 1, 2026**

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Updated Information About Your Contract

The information in this Updating Summary Prospectus is a summary of certain Contract features that have changed since the Statutory Prospectus dated May 1, 2025. This may not reflect all of the changes that have occurred since you entered into your Contract.

There have been no material changes to your Contract's features since the date of your most recent Statutory Prospectus.

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**Allianz Index Advantage**<sup>®</sup> **Variable Annuity Prospectus – May 1, 2026**

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Important Information You Should Consider About the Contract

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| | | | |
|:---|:---|:---|:---|
|  | **FEES, EXPENSES, AND ADJUSTMENTS** | **FEES, EXPENSES, AND ADJUSTMENTS** | &nbsp;&nbsp; **Prospectus**<br> **Location**<br>|
| **Are There** <br> **Charges or** <br> **Adjustments** <br> **for Early** <br> **Withdrawals?**<br>| &nbsp;&nbsp; **Yes**, your Contract is subject to charges for early withdrawals. If you withdraw money from <br> the Contract within six years of your last Purchase Payment, you will be assessed a <br> withdrawal charge of up to 8.5% of the Purchase Payment withdrawn, declining to 0% over <br> that time period. For example, if you invest $100,000 in the Contract and make an early <br> withdrawal, you could pay a withdrawal charge of up to $8,500. This loss will be greater if <br> there is a negative Daily Adjustment, income taxes, or tax penalties.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> In addition, if you take a full or partial withdrawal (including financial adviser fees that you <br> choose to have us pay from this Contract) from an Index Precision Strategy, Index Guard <br> Strategy, or Index Performance Strategy Index Option on a date other than the Term End <br> Date, a Daily Adjustment will apply to the Index Option Value available for withdrawal. The <br> Daily Adjustment also applies if before the Term End Date you execute a Performance <br> Lock, you annuitize the Contract, we pay a death benefit, or we deduct Contract fees and <br> expenses. The Daily Adjustment may be positive, negative, or equal to zero. A negative <br> Daily Adjustment will result in a loss, and could result in a loss beyond the protection of the <br> 10% or 20% Buffer, or -10% Floor, as applicable. The maximum potential loss from a <br> negative Daily Adjustment is: -99% for the Index Precision Strategy and Index Performance <br> Strategy; and -35% for the Index Guard Strategy. For example, if you allocate $100,000 to a <br> 1-year Term Index Performance Strategy Index Option with 10% Buffer and later withdraw <br> the entire amount before the Term has ended, you could lose up to $99,000 of your <br> investment. This loss will be greater if you also have to pay a withdrawal charge, income <br> taxes, and tax penalties.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **The Index Protection Strategy is not subject to the Daily Adjustment.** | &nbsp;&nbsp; **Yes**, your Contract is subject to charges for early withdrawals. If you withdraw money from <br> the Contract within six years of your last Purchase Payment, you will be assessed a <br> withdrawal charge of up to 8.5% of the Purchase Payment withdrawn, declining to 0% over <br> that time period. For example, if you invest $100,000 in the Contract and make an early <br> withdrawal, you could pay a withdrawal charge of up to $8,500. This loss will be greater if <br> there is a negative Daily Adjustment, income taxes, or tax penalties.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> In addition, if you take a full or partial withdrawal (including financial adviser fees that you <br> choose to have us pay from this Contract) from an Index Precision Strategy, Index Guard <br> Strategy, or Index Performance Strategy Index Option on a date other than the Term End <br> Date, a Daily Adjustment will apply to the Index Option Value available for withdrawal. The <br> Daily Adjustment also applies if before the Term End Date you execute a Performance <br> Lock, you annuitize the Contract, we pay a death benefit, or we deduct Contract fees and <br> expenses. The Daily Adjustment may be positive, negative, or equal to zero. A negative <br> Daily Adjustment will result in a loss, and could result in a loss beyond the protection of the <br> 10% or 20% Buffer, or -10% Floor, as applicable. The maximum potential loss from a <br> negative Daily Adjustment is: -99% for the Index Precision Strategy and Index Performance <br> Strategy; and -35% for the Index Guard Strategy. For example, if you allocate $100,000 to a <br> 1-year Term Index Performance Strategy Index Option with 10% Buffer and later withdraw <br> the entire amount before the Term has ended, you could lose up to $99,000 of your <br> investment. This loss will be greater if you also have to pay a withdrawal charge, income <br> taxes, and tax penalties.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **The Index Protection Strategy is not subject to the Daily Adjustment.** | &nbsp;&nbsp; **Fee Tables**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **7. Expenses and** <br> **Adjustments**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **Appendix C –** <br> **Daily**<br> **Adjustment**<br>|
| **Are There** <br> **Transaction** <br> **Charges?**<br>| &nbsp;&nbsp; **Yes.** In addition to withdrawal charges, and Daily Adjustments that may apply to <br> withdrawals and other transactions from the Index Precision Strategy, Index Guard <br> Strategy, and Index Performance Strategy Index Options, we will also charge you a fee of <br> $25 per transfer after you exceed 12 transfers between Variable Options in a Contract Year. | &nbsp;&nbsp; **Yes.** In addition to withdrawal charges, and Daily Adjustments that may apply to <br> withdrawals and other transactions from the Index Precision Strategy, Index Guard <br> Strategy, and Index Performance Strategy Index Options, we will also charge you a fee of <br> $25 per transfer after you exceed 12 transfers between Variable Options in a Contract Year. | &nbsp;&nbsp; **Fee Tables**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **7. Expenses and** <br> **Adjustments**<br>|
| **Are There** <br> **Ongoing Fees** <br> **and** <br> **Expenses?** | &nbsp;&nbsp; **Yes**, there are ongoing fees and expenses. The table below describes the fees and <br> expenses that you may pay *each year*, depending on the options you choose. Please refer <br> to your Contract specifications page for information about the specific fees you will pay <br> *each year* based on the options you have elected. These ongoing fees and expenses do <br> not reflect any financial adviser fees paid to a Financial Professional from your Contract <br> Value or other assets of the Owner. If such charges were reflected, these ongoing fees and <br> expenses would be higher.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **There is an implicit ongoing fee on Index Options to the extent that your participation** <br> **in Index gains is limited by us through a DPSC, Precision Rate, or Cap.** This means <br> that your returns may be lower than the Index's returns. In return for accepting this limit on <br> Index gains, you will receive some protection from Index losses. This implicit ongoing fee is <br> not reflected in the tables below. **Additionally, if we add Index Options with a** <br> **guaranteed minimum Participation Rate less than 100%, the Participation Rate would** <br> **be an implicit ongoing fee and limit Index gains.**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; | &nbsp;&nbsp; **Yes**, there are ongoing fees and expenses. The table below describes the fees and <br> expenses that you may pay *each year*, depending on the options you choose. Please refer <br> to your Contract specifications page for information about the specific fees you will pay <br> *each year* based on the options you have elected. These ongoing fees and expenses do <br> not reflect any financial adviser fees paid to a Financial Professional from your Contract <br> Value or other assets of the Owner. If such charges were reflected, these ongoing fees and <br> expenses would be higher.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **There is an implicit ongoing fee on Index Options to the extent that your participation** <br> **in Index gains is limited by us through a DPSC, Precision Rate, or Cap.** This means <br> that your returns may be lower than the Index's returns. In return for accepting this limit on <br> Index gains, you will receive some protection from Index losses. This implicit ongoing fee is <br> not reflected in the tables below. **Additionally, if we add Index Options with a** <br> **guaranteed minimum Participation Rate less than 100%, the Participation Rate would** <br> **be an implicit ongoing fee and limit Index gains.**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; | &nbsp;&nbsp; **Fee Tables**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **1. The Contract –** <br> **Financial Adviser** <br> **Fees**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **7. Expenses and** <br> **Adjustments**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **Appendix A –** <br> **Investment** <br> **Options Available** <br> **Under the** <br> **Contract** |
| **Are There** <br> **Ongoing Fees** <br> **and** <br> **Expenses?** | **Minimum** | **Maximum** | &nbsp;&nbsp; **Fee Tables**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **1. The Contract –** <br> **Financial Adviser** <br> **Fees**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **7. Expenses and** <br> **Adjustments**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **Appendix A –** <br> **Investment** <br> **Options Available** <br> **Under the** <br> **Contract** |
| **Are There** <br> **Ongoing Fees** <br> **and** <br> **Expenses?**<br> Base Contract<sup>(1)</sup> <br>| 1.26% | 1.26% | &nbsp;&nbsp; **Fee Tables**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **1. The Contract –** <br> **Financial Adviser** <br> **Fees**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **7. Expenses and** <br> **Adjustments**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **Appendix A –** <br> **Investment** <br> **Options Available** <br> **Under the** <br> **Contract** |
| **Are There** <br> **Ongoing Fees** <br> **and** <br> **Expenses?**<br> &nbsp;&nbsp; Investment Options<sup>(2)</sup> <br>(Fund fees and expenses)<br>| 0.66% | 0.73% | &nbsp;&nbsp; **Fee Tables**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **1. The Contract –** <br> **Financial Adviser** <br> **Fees**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **7. Expenses and** <br> **Adjustments**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **Appendix A –** <br> **Investment** <br> **Options Available** <br> **Under the** <br> **Contract** |
| &nbsp;&nbsp; Optional benefits available for an additional <br> charge<sup>(3)</sup> <br>(for a single optional benefit, if elected)<br>| 0.20% | 0.20% |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <sup>(1)</sup> <br>As a percentage of the Charge Base, plus an amount attributable to the contract maintenance charge. | &nbsp;&nbsp;&nbsp;&nbsp; <sup>(1)</sup> <br>As a percentage of the Charge Base, plus an amount attributable to the contract maintenance charge. |  |

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**Allianz Index Advantage**<sup>®</sup> **Variable Annuity Prospectus – May 1, 2026**

 **8** 

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**FEES, EXPENSES, AND ADJUSTMENTS** **Prospectus** **Location** 

<sup>(2)</sup> As a percentage of a Fund's average daily net
 assets. 

<sup>(3)</sup> As a percentage of the Charge Base. This is the
 current charge for the Maximum Anniversary Value DeathBenefit. 

Because your Contract is customizable, the choices
 you make affect how much you willpay. To help you understand the cost of owning your
 Contract, the following table shows thelowest and highest cost you could pay each year,
 based on current charges. This estimateassumes that you do not take withdrawals from the
 Contract,**whichcould add a** **withdrawal charge, and a negative Daily Adjustment if taken from the Index Precision** **Strategy, Index Guard Strategy, or Index Performance StrategyIndex Options that** **substantially increase costs**. 

**RISKS** 

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**Allianz Index Advantage**<sup>®</sup> **Variable Annuity Prospectus – May 1, 2026**

 **9** 

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| | | |
|:---|:---|:---|
|  | **RISKS** | &nbsp;&nbsp; **Prospectus**<br> **Location**<br>|
| **Is This a** <br> **Short-Term** <br> **Investment?**<br>| &nbsp;&nbsp; • **No**, this Contract is not a short-term investment and is not appropriate if you need ready <br> access to cash.<br> • Considering the benefits of tax deferral and long-term income, the Contract is generally <br> more beneficial to investors with a long investment time horizon.<br> • Withdrawals are subject to income taxes, and may also be subject to a 10% additional <br> federal tax for amounts withdrawn before age 59 <sup>1</sup>∕2.<br> • If, within six years after we receive a Purchase Payment, you take a full or partial <br> withdrawal (including financial adviser fees that you choose to have us pay from this <br> Contract), withdrawal charges will apply. A withdrawal charge will reduce your Contract <br> Value or the amount of money that you actually receive. Withdrawals may reduce or end <br> Contract guarantees.<br> • Amounts invested in an Index Option must be held in the Index Option for the full Term <br> before they can receive a Credit. For Index Precision Strategy, Index Guard Strategy, and <br> Index Performance Strategy Index Options, we apply a Daily Adjustment if before the <br> Term End Date you take a full or partial withdrawal (including financial adviser fees that <br> you choose to have us pay from this Contract), you execute a Performance Lock, you <br> annuitize the Contract, we pay a death benefit, or we deduct Contract fees and expenses.<br> • The Daily Adjustment may be negative. You will lose money if the Daily Adjustment is <br> negative. <br> • Withdrawals and other deductions from an Index Option prior to a Term End Date will <br> result in a proportionate reduction to your Index Option Base. The proportionate reduction <br> could be greater than the amount withdrawn or deducted. Reductions to your Index <br> Option Base will result in lower Index Option Values for the remainder of the Term and <br> lower gains (if any) on the Term End Date.<br> • On the Term End Date, you can transfer assets invested in an Index Option by submitting <br> transfer instructions. If you do not submit transfer instructions, you will continue to be <br> invested in the same Index Option with a new Term Start Date. The new Term will be <br> subject to the applicable renewal DPSC, Precision Rate, Cap, and/or Participation Rate. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing In the** <br> **Contract**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **4. Index Options**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **6. Valuing Your** <br> **Contract**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **7. Expenses and** <br> **Adjustments**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **Appendix C –** <br> **Daily Adjustment**<br>|
| **What are the** <br> **Risks** <br> **Associated** <br> **with the** <br> **Investment** <br> **Options?**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • An investment in the Contract is subject to the risk of poor investment performance and <br> can vary depending on the performance of the Variable Options and the Index Options <br> available under the Contract.<br> • Each Variable Option and Index Option have their own unique risks.<br> • You should review each Fund's prospectus and disclosures, including risk factors, before <br> making an investment decision.<br> • DPSCs, Precision Rates, and Caps will limit positive Credits (e.g., limited upside). **This** <br> **may result in earning less than the Index Return.** <br> – For example, if at the end of a 1-year Term, the Index Return is 25% and the Cap is <br> 15%, we apply a Performance Credit of 15%, meaning your Contract Value allocated <br> to that Index Option will increase by 15% since the Term Start Date. If at the end of the <br> Term, the Index Return is 6% and the Precision Rate is 3%, we apply a Performance <br> Credit of 3%, meaning your Contract Value allocated to that Index Option will increase <br> by 3% since the Term Start Date.<br> • The Buffer or Floor will limit negative Performance Credits (e.g., limited protection in the <br> case of Index decline). **However, you bear the risk for all Index losses that exceed** <br> **the Buffer. You also bear the risk for Index losses down to the Floor.**<br> – For example, if at the end of a Term, the Index Return is -25% and the Buffer is 10%, <br> we apply a Performance Credit of -15%, meaning your Contract Value allocated to that <br> Index Option will decrease by 15% since the Term Start Date. If the Index Return is <br> -25% and the Floor is -10%, we apply a Performance Credit of -10%, meaning your <br> Contract Value allocated to that Index Option will decrease by 10% since the Term <br> Start Date.<br> • The Indexes are price return indexes, not total return indexes. This means that the Index <br> Options do not receive any dividends payable on these securities. The Index Options also <br> do not directly participate in the returns of the Indexes or the Indexes' component <br> securities. This will reduce the Index Return and may cause the Index to underperform a <br> direct investment in the securities composing the Index. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing In the** <br> **Contract**<br>|

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**Allianz Index Advantage**<sup>®</sup> **Variable Annuity Prospectus – May 1, 2026**

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| | | |
|:---|:---|:---|
|  | **RISKS** | &nbsp;&nbsp; **Prospectus**<br> **Location**<br>|
| **What are the** <br> **Risks Related** <br> **to the** <br> **Insurance** <br> **Company?**<br>| &nbsp;&nbsp; An investment in the Contract is subject to the risks related to us. All obligations, <br> guarantees or benefits of the Contract, including those relating to the Index Options, are the <br> obligations of Allianz Life and are subject to our claims-paying ability and financial strength. <br> More information about Allianz Life, including our financial strength ratings, is available <br> upon request by visiting https://www.allianzlife.com/about/financial-ratings, or contacting us <br> at (800) 624-0197. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing In the** <br> **Contract**<br>|
|  | **RESTRICTIONS** |  |
| **Are There** <br> **Restrictions on** <br> **the Investment** <br> **Options?**<br>| &nbsp;&nbsp; **Yes**, there are limits on the Investment Options.<br> • Certain Index Options may not be available under your Contract (see Appendix A).<br> • The availability of Investment Options may vary depending on the broker-dealer through <br> which the Contract is sold (see Appendix G).<br> • We can add new Index Options to your Contract in the future.<br> • The first 12 transfers between Variable Options every Contract Year are free. After that, <br> we deduct a $25 transfer fee for each additional transfer. Your transfers between the <br> Variable Options are also subject to policies designed to deter excessively frequent <br> transfers and market timing.<br> • We do not accept additional Purchase Payments during the Annuity Phase.<br> • We only allow assets to move into the Index Options on the Index Effective Date and on <br> subsequent Index Anniversaries as discussed in section 3, Purchase Payments – <br> Allocation of Purchase Payments and Contract Value Transfers.<br> • You can typically transfer Index Option Value only on Term End Dates. However, you can <br> transfer assets out of a 3-year or 6-year Term Index Option before the Term End Date by <br> executing a Performance Lock as discussed in section 6, Valuing Your Contract – <br> Performance Locks.<br> • We do not allow assets to move into an established Index Option until the Term End Date. <br> If you request to allocate a Purchase Payment into an established Index Option on an <br> Index Anniversary that is not a Term End Date, we will allocate those assets to the same <br> Index Option with a new Term Start Date.<br> • We reserve the right to close or substitute the Fund in which a Variable Option invests. <br> We also reserve the right to substitute Indexes either on a Term Start Date or during a <br> Term.<br> • We may terminate your ability to make additional Purchase Payments during the <br> Accumulation Phase because we reserve the right to decline any or all Purchase <br> Payments at any time on a nondiscriminatory basis.<br> • DPSCs, Precision Rates, Caps, and Participation Rates will change from one Term to the <br> next subject to their contractual minimum guarantees.<br> • The 10% and 20% Buffers, and -10% Floors for the currently available Index Options do <br> not change. However, if we add a new Index Option to your Contract after the Issue Date, <br> we establish the Buffer or Floor for it on the date we add the Index Option to your <br> Contract. For a new Index Option, the minimum Buffer is 5% and the minimum Floor is <br> -25%. | &nbsp;&nbsp; **Overview of the** <br> **Contract**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **Principal Risks of** <br> **Investing In the** <br> **Contract**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **3. Purchase** <br> **Payments –** <br> **Allocation of** <br> **Purchase** <br> **Payments and** <br> **Contract Value** <br> **Transfers**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **4. Index Options**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **5. The Variable** <br> **Options'** <br> **Underlying Funds**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **6. Valuing Your**<br> **Contract**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **Appendix A –** <br> **Investment** <br> **Options Available** <br> **Under the** <br> **Contract**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **Appendix G –** <br> **Financial** <br> **Intermediary** <br> **Variations**<br>|

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**Allianz Index Advantage**<sup>®</sup> **Variable Annuity Prospectus – May 1, 2026**

 **11** 

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| | | |
|:---|:---|:---|
|  | **RESTRICTIONS** | &nbsp;&nbsp; **Prospectus**<br> **Location**<br>|
| **Are There Any** <br> **Restrictions on** <br> **Contract** <br> **Benefits?**<br>| &nbsp;&nbsp; • **Yes**, there are restrictions on Contract Benefits.<br> • The availability of Contract benefits may vary depending on the broker-dealer through <br> which the Contract is sold (see Appendix G).<br> • We do not allow Performance Locks to occur on Term End Dates.<br> • We reserve the right to discontinue or modify the Minimum Distribution Program and <br> Financial Adviser Fees program.<br> • The deduction of financial adviser fees is in addition to this Contract's fees and expenses, <br> and the deduction is treated the same as any other withdrawal under the Contract. As <br> such, withdrawals to pay financial adviser fees may be subject to a Daily Adjustment (that <br> could be negative), are subject to withdrawal charges, will reduce the Contract Value <br> dollar for dollar and Guaranteed Death Benefit Value proportionately (perhaps <br> significantly and by more than the amount withdrawn).<br> • The death benefits are only available during the Accumulation Phase. Upon annuitization, <br> these benefits will end.<br> • The Traditional Death Benefit may not be modified, but it will terminate if you take <br> withdrawals that reduce both the Contract Value and Guaranteed Death Benefit Value to <br> zero. Withdrawals may reduce the Traditional Death Benefit's Guaranteed Death Benefit <br> Value by more than the value withdrawn and could end the Traditional Death Benefit.<br> • The optional Maximum Anniversary Value Death Benefit may not be modified. <br> Withdrawals may reduce the Maximum Anniversary Value Death Benefit's Guaranteed <br> Death Benefit Value by more than the value withdrawn and will end the Maximum <br> Anniversary Value Death Benefit if the withdrawals reduce both the Contract Value and <br> Guaranteed Death Benefit Value to zero. | &nbsp;&nbsp; **6. Valuing Your**<br> **Contract -** <br> **Performance** <br> **Locks**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **10. Benefits** <br> **Available Under** <br> **the Contract**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **11. Death Benefit**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **Appendix G –** <br> **Financial** <br> **Intermediary** <br> **Variations**<br>|
|  | **TAXES** |  |
| **What are the** <br> **Contract's Tax** <br> **Implications?**<br>| &nbsp;&nbsp; • Consult with a tax professional to determine the tax implications of an investment in and <br> withdrawals from or payments received under the Contract.<br> • If you purchased the Contract through a tax-qualified plan, as an individual retirement <br> annuity, or through a custodial individual retirement account, you do not get any additional <br> tax benefit under the Contract.<br> • Generally, earnings under a Non-Qualified Contract are taxed at ordinary income rates <br> when withdrawn, and may also be subject to a 10% additional federal tax for amounts <br> withdrawn before age 59 <sup>1</sup>∕2.<br> • Generally, distributions from Qualified Contracts are taxed at ordinary income tax rates <br> when withdrawn, and may also be subject to a 10% additional federal tax for amounts <br> withdrawn before age 59 <sup>1</sup>∕2. | **12. Taxes** |
|  | **CONFLICTS OF INTEREST** |  |
| **How are** <br> **Investment** <br> **Professionals** <br> **Compensated?**<br>| &nbsp;&nbsp; Your Financial Professional may receive compensation for selling this Contract to you, in <br> the form of commissions, additional cash benefits (e.g., cash bonuses), and non-cash <br> compensation. We and/or our wholly owned subsidiary distributor may also make marketing <br> support payments to certain selling firms for marketing services and costs associated with <br> Contract sales. This conflict of interest may influence your Financial Professional to <br> recommend this Contract over another investment for which the Financial Professional is <br> not compensated or compensated less. | &nbsp;&nbsp; **7. Expenses and** <br> **Adjustments –** <br> **Commissions** <br> **Paid to Dealers**<br>|
| **Should I** <br> **Exchange my** <br> **Contract?**<br>| &nbsp;&nbsp; Whether to exchange your existing Contract for a new contract is a decision that each <br> investor should make based on their personal circumstances and financial objectives. <br> However, in making this decision you should be aware that some Financial Professionals <br> may have a financial incentive to offer you a new contract in place of one you already own. <br> You should only exchange your Contract if you determine, after comparing the features, <br> fees, and risks of both contracts, including any fees or penalties to terminate your existing <br> Contract, that it is better for you to purchase the new contract rather than continue to own <br> your existing Contract. | &nbsp;&nbsp; **13. Other**<br> **Information –**<br> **Distribution**<br>|

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**Allianz Index Advantage**<sup>®</sup> **Variable Annuity Prospectus – May 1, 2026**

 **12** 

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Appendix A – Investment Options Available Under the Contract

The availability of Investment Options may vary depending on the broker-dealer through which the Contract was sold. See Appendix G – Financial Intermediary Variations for additional information.

**Variable Options**

The following includes information about the Funds available under the Contract. More information about the Funds is available in the Funds' prospectuses, which may be amended from time to time and can be found online at https://www.allianzlife.com/variableoptions. You can also request this information at no cost by calling (800) 624-0197, or by sending an email request to prospectus.request@allianzlife.com.

The current expenses and performance information below reflects fees and expenses of the Funds, but do not reflect the other fees and expenses that your Contract may charge. Expenses would be higher and performance would be lower if these other charges were included. The Funds' past performance is not necessarily an indication of future performance.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Objectives** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> (as of December 31, 2025) | **Average Annual Total Returns**<br> (as of December 31, 2025) | **Average Annual Total Returns**<br> (as of December 31, 2025) |
| **Investment Objectives** | **Current**<br> **Expenses** | **1 Year** | **5 Years** | **10 Years** |
| Current income consistent with <br> stability of principal<br>**AZL**<sup>®</sup> **Government Money** <br> **Market Fund**<sup>(1)</sup><br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> *Adviser: Allianz Investment* <br> *Management LLC*<br> *Subadviser: BlackRock* <br> *Advisors, LLC*<br>| 0.65% | &nbsp;&nbsp; 3.70% | 2.62% | 1.57% |
| Long-term capital appreciation with <br> preservation of capital as an <br> important consideration<br>**AZL**<sup>®</sup> **MVP Balanced Index** <br> **Strategy Fund**<sup>(2)</sup><br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> *Adviser: Allianz Investment* <br> *Management LLC*<br>| 0.73% | 10.70% | 4.85% | 5.95% |
| Long-term capital appreciation<br> **AZL**<sup>®</sup> **MVP Growth Index** <br> **Strategy Fund**<sup>(2)</sup><br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> *Adviser: Allianz Investment* <br> *Management LLC*<br>| 0.69% | 11.80% | 7.67% | 7.78% |

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(1) The AZL<sup>®</sup> Government Money Market Fund's annual expenses reflect a temporary fee reduction. Please see the AZL<sup>®</sup> Government Money Market Fund's prospectus for information regarding the expense reimbursement or fee waiver arrangement.

(2) This Fund is managed in a way that is intended to minimize volatility of returns (referred to as a "managed volatility strategy"). For more information see Principal Risk of Investing in the Contract – Managed Volatility Variable Option Risk, or refer to the Fund's prospectus.

**Index Options**

The following is a list of Index Options currently available under the Contract. We may change certain features of the Index Options listed below (including the Index and the current limits on Index gains) and offer new Index Options. We will provide you with written notice before making any changes other than changes to current limits on Index gains. Information about current limits on Index gains is available at https://www.allianzlife.com/indexrates.

**Note: If amounts are removed from an Index Precision Strategy, Index Guard Strategy, or Index Performance Strategy Index Option before the Term End Date, we will apply a Daily Adjustment. This may result in a significant reduction in your Contract Value that could exceed any protection from Index loss that would be in place if such amounts were not removed from the Index Option until the Term End Date. The Daily Adjustment does not apply to the Index Protection Strategy Index Options.**

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**Allianz Index Advantage**<sup>®</sup> **Variable Annuity Prospectus – May 1, 2026**

**Appendix A**

 **13** 

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For more information about the Index Options' features, see section 4, Index Options, and section 6, Valuing Your Contract. For more information about Daily Adjustment, see section 7, Expenses and Adjustments – Daily Adjustment.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Index** | **Index Type** | **Crediting** <br> **Period**<br> **(Term** <br> **Length)**<br>| **Index** <br> **Crediting** <br> **Methodology**<br>| **Current Limit on** <br> **Index Loss**<br> **(if held until** <br> **Term End Date)**<br>| **Minimum Limit on Index Gain** <br> **(for the life of the Index** <br> **Option)**<br>|
| **Index Protection Strategy** | **Index Protection Strategy** | **Index Protection Strategy** | **Index Protection Strategy** | **Index Protection Strategy** | **Index Protection Strategy** |
| S&P 500<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. large-cap equities | 1-year Term | Point-to-point <br> with step-up | 100% downside <br> protection | 1.50% minimum DPSC |
| Russell 2000<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. small-cap equities | 1-year Term | Point-to-point <br> with step-up | 100% downside <br> protection | 1.50% minimum DPSC |
| Nasdaq-100<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. & international <br> non-financial large-cap <br> equities<br>| 1-year Term | Point-to-point <br> with step-up | 100% downside <br> protection | 1.50% minimum DPSC |
| EURO STOXX 50<sup>®(1)</sup> <br>| Eurozone large-cap equities | 1-year Term | Point-to-point <br> with step-up | 100% downside <br> protection | 1.50% minimum DPSC |
| iShares<sup>®</sup> MSCI Emerging <br> Markets ETF<sup>(2)</sup> <br>| International emerging <br> markets equities<br>| 1-year Term | Point-to-point <br> with step-up | 100% downside <br> protection | 1.50% minimum DPSC |
| **Index Precision Strategy** <br> **• Not available to Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ.**<br> **• Only available to Contracts issued since August 24, 2015 that have a Contract number starting with AV.** | **Index Precision Strategy** <br> **• Not available to Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ.**<br> **• Only available to Contracts issued since August 24, 2015 that have a Contract number starting with AV.** | **Index Precision Strategy** <br> **• Not available to Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ.**<br> **• Only available to Contracts issued since August 24, 2015 that have a Contract number starting with AV.** | **Index Precision Strategy** <br> **• Not available to Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ.**<br> **• Only available to Contracts issued since August 24, 2015 that have a Contract number starting with AV.** | **Index Precision Strategy** <br> **• Not available to Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ.**<br> **• Only available to Contracts issued since August 24, 2015 that have a Contract number starting with AV.** | **Index Precision Strategy** <br> **• Not available to Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ.**<br> **• Only available to Contracts issued since August 24, 2015 that have a Contract number starting with AV.** |
| S&P 500<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. large-cap equities | 1-year Term | Point-to-point <br> with step-up | 10% Buffer | 1.50% minimum Precision Rate |
| Russell 2000<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. small-cap equities | 1-year Term | Point-to-point <br> with step-up | 10% Buffer | 1.50% minimum Precision Rate |
| Nasdaq-100<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. & international <br> non-financial large-cap <br> equities<br>| 1-year Term | Point-to-point <br> with step-up | 10% Buffer | 1.50% minimum Precision Rate |
| EURO STOXX 50<sup>®(1)</sup> <br>| Eurozone large-cap equities | 1-year Term | Point-to-point <br> with step-up | 10% Buffer | 1.50% minimum Precision Rate |
| iShares<sup>®</sup> MSCI Emerging <br> Markets ETF<sup>(2)</sup> <br>| International emerging <br> markets equities<br>| 1-year Term | Point-to-point <br> with step-up | 10% Buffer | 1.50% minimum Precision Rate |
| **Index Guard Strategy** <br> **• Not available to Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ.**<br> **• Only available to Contracts issued since August 24, 2015 that have a Contract number starting with AV.** | **Index Guard Strategy** <br> **• Not available to Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ.**<br> **• Only available to Contracts issued since August 24, 2015 that have a Contract number starting with AV.** | **Index Guard Strategy** <br> **• Not available to Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ.**<br> **• Only available to Contracts issued since August 24, 2015 that have a Contract number starting with AV.** | **Index Guard Strategy** <br> **• Not available to Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ.**<br> **• Only available to Contracts issued since August 24, 2015 that have a Contract number starting with AV.** | **Index Guard Strategy** <br> **• Not available to Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ.**<br> **• Only available to Contracts issued since August 24, 2015 that have a Contract number starting with AV.** | **Index Guard Strategy** <br> **• Not available to Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ.**<br> **• Only available to Contracts issued since August 24, 2015 that have a Contract number starting with AV.** |
| S&P 500<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. large-cap equities | 1-year Term | Point-to-point <br> with Cap | -10% Floor | 1.50% minimum Cap |
| Russell 2000<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. small-cap equities | 1-year Term | Point-to-point <br> with Cap | -10% Floor | 1.50% minimum Cap |
| Nasdaq-100<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. & international <br> non-financial large-cap <br> equities<br>| 1-year Term | Point-to-point <br> with Cap | -10% Floor | 1.50% minimum Cap |
| EURO STOXX 50<sup>®(1)</sup> <br>| Eurozone large-cap equities | 1-year Term | Point-to-point <br> with Cap | -10% Floor | 1.50% minimum Cap |
| iShares<sup>®</sup> MSCI Emerging <br> Markets ETF<sup>(2)</sup> <br>| International emerging <br> markets equities<br>| 1-year Term | Point-to-point <br> with Cap | -10% Floor | 1.50% minimum Cap |
| **Index Performance Strategy**<br> **• For Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ, only the 1-year Term with 10% Buffer is available.** <br> **• For Contracts issued from August 24, 2015 through April 29, 2021, and have a Contract number starting with AV, only the 1-year Term with 10% Buffer** <br> **and the 3-year Term with 20% Buffer is available.** <br> **• For Contracts issued since April 30, 2021, only the 1-year Term with 10% Buffer, the 3-year Term with 10% or 20% Buffer and Participation Rate, and the** <br> **6-year Term with 10% Buffer and Participation Rate Index Options are available.** | **Index Performance Strategy**<br> **• For Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ, only the 1-year Term with 10% Buffer is available.** <br> **• For Contracts issued from August 24, 2015 through April 29, 2021, and have a Contract number starting with AV, only the 1-year Term with 10% Buffer** <br> **and the 3-year Term with 20% Buffer is available.** <br> **• For Contracts issued since April 30, 2021, only the 1-year Term with 10% Buffer, the 3-year Term with 10% or 20% Buffer and Participation Rate, and the** <br> **6-year Term with 10% Buffer and Participation Rate Index Options are available.** | **Index Performance Strategy**<br> **• For Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ, only the 1-year Term with 10% Buffer is available.** <br> **• For Contracts issued from August 24, 2015 through April 29, 2021, and have a Contract number starting with AV, only the 1-year Term with 10% Buffer** <br> **and the 3-year Term with 20% Buffer is available.** <br> **• For Contracts issued since April 30, 2021, only the 1-year Term with 10% Buffer, the 3-year Term with 10% or 20% Buffer and Participation Rate, and the** <br> **6-year Term with 10% Buffer and Participation Rate Index Options are available.** | **Index Performance Strategy**<br> **• For Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ, only the 1-year Term with 10% Buffer is available.** <br> **• For Contracts issued from August 24, 2015 through April 29, 2021, and have a Contract number starting with AV, only the 1-year Term with 10% Buffer** <br> **and the 3-year Term with 20% Buffer is available.** <br> **• For Contracts issued since April 30, 2021, only the 1-year Term with 10% Buffer, the 3-year Term with 10% or 20% Buffer and Participation Rate, and the** <br> **6-year Term with 10% Buffer and Participation Rate Index Options are available.** | **Index Performance Strategy**<br> **• For Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ, only the 1-year Term with 10% Buffer is available.** <br> **• For Contracts issued from August 24, 2015 through April 29, 2021, and have a Contract number starting with AV, only the 1-year Term with 10% Buffer** <br> **and the 3-year Term with 20% Buffer is available.** <br> **• For Contracts issued since April 30, 2021, only the 1-year Term with 10% Buffer, the 3-year Term with 10% or 20% Buffer and Participation Rate, and the** <br> **6-year Term with 10% Buffer and Participation Rate Index Options are available.** | **Index Performance Strategy**<br> **• For Contracts issued before August 24, 2015, or that have a Contract number starting with DAZ, only the 1-year Term with 10% Buffer is available.** <br> **• For Contracts issued from August 24, 2015 through April 29, 2021, and have a Contract number starting with AV, only the 1-year Term with 10% Buffer** <br> **and the 3-year Term with 20% Buffer is available.** <br> **• For Contracts issued since April 30, 2021, only the 1-year Term with 10% Buffer, the 3-year Term with 10% or 20% Buffer and Participation Rate, and the** <br> **6-year Term with 10% Buffer and Participation Rate Index Options are available.** |
| S&P 500<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. large-cap equities | 1-year Term | Point-to-point <br> with Cap | • 10% Buffer | 1.50% minimum Cap |
| Russell 2000<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. small-cap equities | 1-year Term | Point-to-point <br> with Cap | • 10% Buffer | 1.50% minimum Cap |
| Nasdaq-100<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. & international <br> non-financial large-cap <br> equities<br>| 1-year Term | Point-to-point <br> with Cap | • 10% Buffer | 1.50% minimum Cap |
| EURO STOXX 50<sup>®(1)</sup> <br>| Eurozone large-cap equities | 1-year Term | Point-to-point <br> with Cap | • 10% Buffer | 1.50% minimum Cap |
| iShares<sup>®</sup> MSCI Emerging <br> Markets ETF<sup>(2)</sup> <br>| International emerging <br> markets equities<br>| 1-year Term | Point-to-point <br> with Cap | • 10% Buffer | 1.50% minimum Cap |

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**Allianz Index Advantage**<sup>®</sup> **Variable Annuity Prospectus – May 1, 2026**

**Appendix A**

 **14** 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Index** | **Index Type** | **Crediting** <br> **Period**<br> **(Term** <br> **Length)**<br>| **Index** <br> **Crediting** <br> **Methodology**<br>| **Current Limit on** <br> **Index Loss**<br> **(if held until** <br> **Term End Date)**<br>| **Minimum Limit on Index Gain** <br> **(for the life of the Index** <br> **Option)**<br>|
| S&P 500<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. large-cap equities | 3-year Term | Point-to-point <br> with Cap | • 20% Buffer | • 5% minimum Cap<sup>(3)</sup>  |
| Russell 2000<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. small-cap equities | 3-year Term | Point-to-point <br> with Cap | • 20% Buffer | • 5% minimum Cap<sup>(3)</sup>  |
| S&P 500<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. large-cap equities | 3-year Term | Point-to-point <br> with Cap and <br> enhanced <br> upside | • 10% Buffer<br> • 20% Buffer | &nbsp;&nbsp; • 5% minimum Cap<sup>(3)</sup> <br>• 100% minimum Participation <br> Rate |
| Russell 2000<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. small-cap equities | 3-year Term | Point-to-point <br> with Cap and <br> enhanced <br> upside | • 10% Buffer<br> • 20% Buffer | &nbsp;&nbsp; • 5% minimum Cap<sup>(3)</sup> <br>• 100% minimum Participation <br> Rate |
| S&P 500<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. large-cap equities | 6-year Term | Point-to-point <br> with Cap and <br> enhanced <br> upside | • 10% Buffer | &nbsp;&nbsp; • 10% minimum Cap<sup>(3)</sup> <br>• 100% minimum Participation <br> Rate |
| Russell 2000<sup>®</sup> Index<sup>(1)</sup> <br>| U.S. small-cap equities | 6-year Term | Point-to-point <br> with Cap and <br> enhanced <br> upside | • 10% Buffer | &nbsp;&nbsp; • 10% minimum Cap<sup>(3)</sup> <br>• 100% minimum Participation <br> Rate |

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&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup>

This Index is a "price return index," not a "total return index," and therefore does not reflect the dividends paid on the securities composing the Index, which will reduce the Index Return and may cause the Index to underperform a direct investment in the securities composing the Index. For the EURO STOXX 50<sup>®</sup>, this Index is a euro "price return index" and Index Returns are determined without any exchange rate adjustment.

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(2)</sup>

This Index is an ETF. Index Values are based on the ETF's closing share price. Index performance is calculated on a "price return" basis, not a "total return" basis, and therefore does not reflect the dividends paid on the securities in which the ETF invests. In addition, an ETF deducts fees and costs, which reduce Index performance. These factors will reduce the Index Return and may cause the Index to underperform a direct investment in the ETF or the securities in which the ETF invests.

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(3)</sup>

May be uncapped for a Term.

**The current limit on Index loss for an Index Option will not change for the life of that Index Option. However, we reserve the right to add new Index Options. As such, the limits on Index loss offered under the Contract may change from one Term to the next if we add an Index Option.**

**If we offer a new Index Option with a Buffer or Floor in the future, the Buffer or Floor will be no lower than 5% or -25%, respectively. The lowest DPSC, Precision Rate, Cap, or Participation Rate that we may establish if we add a new Index Option to the Contract are 0.05%, 0.10%, 0.10%, and 5.00%, respectively.**

EDGAR Contract ID No.: C000124821/C000261683

IXA-003-USP

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**Allianz Index Advantage**<sup>®</sup> **Variable Annuity Prospectus – May 1, 2026**

**Appendix A**

 **15** 

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