Allianz Life Insurance Company of North America is giving holders of 2 equity-indexed life insurance policies a new way to peg returns to increases in stock prices.

Allianz Life, Minneapolis, a unit of Allianz A.G., Munich, says it will be adding an annual point-to-point crediting feature to its GenDex II and GenDex-RP life insurance policies.

Policyholders now can choose between annual point-to-point crediting and monthly point-to-point crediting, the company says.

For policyholders who choose the annual point-to-point crediting feature, Allianz Life will link the crediting rate to increases in the market index that take place between one year and the next.

If the change is negative, the indexed interest for that year will be zero, Allianz Life says.

Allianz Life also is adding a wash policy loan feature. The feature will allow customers who have held policies for 10 years or longer to get policy loans with a net cost of zero, the company says.