Equity Indexed
Annuity of the Month

MasterDex 5 Annuity
issued by
Allianz Life
300 Berwyn Park
Berwyn, PA 19312-0031

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Ratings
A.M. Best Company: A    Moody's: A2    Standard & Poor's: AA-   

Policy Notes
A Flexible Premium Equity Index Annuity that pays a 5.0% Premium Bonus on all deposits received during the first five policy years offering three sub-accounts;

* Traditional Fixed Interest Account.
* S&P 500 Index: Annual Reset utilizing the Sum of Monthly Changes calculation method (monthly point to point with a monthly cap).
* Nasdaq-100 Index: Annual Reset utilizing the Sum of Monthly Changes calculation method (monthly point to point with a monthly cap).

Premium Allocations and Account Transfers
Premiums may be allocated in 25% increments and funds may be reallocated between the sub-accounts at the end of each policy year.
Additional deposits made during a policy year plus the Premium Bonus will be held in the Interim Interest Account at Current Interest Rates until the end of the policy year. At the end of the policy year the Interim Interest Account will be allocated according to your requested Premium Allocation Percentages.
Cash Surrender Value
The greater of:
1) The accumulation value minus a 10-year decreasing surrender charge with a Market Value Adjustment (applied during surrender period only); or
2) The Guaranteed Minimum Value
Guaranteed Minimum Value
80% of premium paid in the first policy year, plus 87.5% of premium paid after first policy year, less any withdrawals, all accumulated at 3.0%, compounded annually.
Policy Loans
Up to 50% of the Cash Surrender Value ($50,000 maximum). Loans are not available with IRA or some other tax-qualified plans.

Available Accounts Equity Index Accounts
Participation Rates, Spreads and Caps - Last Change 08/01/06
Account Indexed to: Product Type Reset Averaging Participation Rate Spread Monthly Cap
Current Guar Min Current Guar Max Current Guar Min
Nasdaq-100 Nasdaq-100 Annual Ratchet Annually No 100.00 100.00 0.00 0.00 2.80 1.00
S&P 500 S&P 500 Annual Ratchet Annually No 100.00 100.00 0.00 0.00 2.80 1.00


Available Fixed Accounts
Fixed Interest Rates - Last Change 08/01/06
Account Indexed to: Years
Guaranteed		 Base Rate Bonus Rate Current Interest Rate Year 2 and thereafter Yield to Surrender
Current Guaranteed
Fixed Interest
1 Year

3.00% 1.50% minimum guarantee or greater


Primary Markets
Fixed: No    CD Type: No    Step Rate: No    TSA: No    Equity Index: Yes    Multi Strategy : No    SPIA: No   

Policy Provisions
Maximum Issue Age Owner NQ:  85     Maximum Issue Age Owner Q:  85
Maximum Issue Age Annuitant NQ:  85     Maximum Issue Age Annuitant Q:  85
Maximum Annuitization Age NQ:  99     Maximum Annuitization Age Q:  99
Minimum Single Premium NQ:  25000     Minimum Single Premium Q:  25000
Minimum Monthly Premium NQ:  25     Minimum Monthly Premium Q:  25
Minimum Additional Premium NQ:  25     Minimum Additional Premium Q:  25
Maximum Premium:  500000     Market Value Adjustment (MVA):  Yes
Loan Provision:  Yes     Net Loan Rate: 
Free Look Period:  10     Rate Lock Protection:  0 days
RMD:  Yes     Form Number: 
Front End Fee:  No     Annual Maintenance Fee:  No

Withdrawal Charges
End of Policy Year    1    2    3    4    5    6    7    8    9    10   
% Charge    15.00    15.00    15.00    13.04    10.89    8.75    6.61    4.46    2.32    0.00   

Waiver of Withdrawal Charges
Death:  Yes            Hospitalization:  Yes
Disability:  No            Unemployment:  No
Terminal Illness:  No            Annuitization:  Yes
Nursing Home:  Yes

Withdrawal Notes
Death Benefit
Full accumulation value lump-sum death benefit.
Withdrawal Provision
You may withdraw up to 10% of premiums per policy year, with a 50% cumulative lifetime maximum; available after the first policy year or 12 months following the last addition of premium, whichever is later. 
Anytime after five policy years, you can receive an income stream based upon the accumulation value over a period as short as 10 years.
Nursing Home and Hospitalization
After the first policy year if you should enter a nursing home, long-term care facility, or hospital for at least 30 days out of a 35 consecutive day period, you may take an accelerated distribution of your accumulation value over a period as short as five years.
Required Minimum Distributions
A required minimum distribution from a tax-qualified plan (IRA, SEP, etc.) is available. The distribution is offered as a penalty free withdrawal (by company practice) if taken annually in December or monthly throughout the year. Policy value will be reduced by the distribution amount withdrawn.

Systematic Withdrawals
Systematic Withdrawal:  Yes
Interest Only:  Yes           Interest Only Waiting Period:  0 Days
Accumulated Value:  Yes     Accumulated Value Waiting Period: 
0 = funds are available immediately.		 5 Years
LERO:  Yes
Minimum Systematic Withdrawal Amount:  100.00     Minimum Account Value:  5000.00

Systematic Withdrawals Modes
Monthly:  No               Semi-Annually:  No
Quarterly:  No     Annually:  Yes

Plan Types
Non Qual.: Yes           IRA Trans: Yes           SEP: Yes           401k: Yes          
TSA: Yes           Profit Sharing: Yes           IRA: Yes           IRA Roll: Yes          
Sponsored IRA: Yes           401a: No 457: No Keogh: Yes          

Approved for Sale in the Following States
AK: Yes           AL: Yes *        AR: Yes           AZ: Yes          
CA: Yes           CO: Yes           CT: Yes           DC: Yes          
DE: Yes           FL: Yes           GA: Yes           HI: Yes          
IA: Yes ID: Yes           IL: Yes           IN: Yes          
KS: Yes           KY: Yes           LA: Yes           MA: Yes          
MD: Yes ME: Yes           MI: Yes           MN: Yes          
MO: Yes           MS: Yes           MT: Yes           NC: Yes          
ND: Yes           NE: Yes           NH: Yes           NJ: Yes*          
NM: Yes           NV: Yes           NY: No           OH: Yes          
OK: Yes           OR: No           PA: Yes          RI: Yes          
SC: Yes           SD: Yes           TN: Yes           TX: Yes          
UT: No           VA: Yes VT: Yes WA: No          
WI: Yes           WV: Yes           WY: Yes          
 * AL, NJ = 3.00% Premium Bonus

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