Allianz Life Insurance Co. of North America has introduced a fixed index deferred annuity that delivers positive indexed interest whether the market during the crediting period was up or down. The Allianz Summit II annuity uses a five-year point-to-point crediting method for the first 10 years of the contract.

Positive index changes are multiplied by the upside participation rate to get the indexed interest rate. Negative index changes are treated as positive changes and multiplied by the downside participation rate to create smaller, though positive, indexed interest rates. Other features of the product include:

  • No caps or upfront fees.
  • Lump-sum access after 10 years.
  • Ten-year decreasing surrender charge schedule.
  • Post-surrender-charge-period fixed-interest crediting, guaranteed not to fall below 1.5 percent.

For more information, visit www.allianzlife.com.