Allianz Life Launches New Variable Annuity Riders.

MINNEAPOLIS -- On the heels of last week's announcement of strong earnings and reaffirmed ratings, Allianz Life Insurance Company of North America (Allianz Life) today introduced new living benefit riders that were pulled from its top-selling variable annuity on March 31st. The company discussed these products and other bold moves it is taking to ensure success in the difficult economy.

"We are fortunate to have the backing of a strong, diversified parent company, a disciplined business approach, and exceptional talent to navigate through economic ups and downs," said President and CEO Gary C. Bhojwani. "For all companies in our industry, the crisis has reinforced the importance of closely reviewing and heeding risk management models, even when it seems unpopular."

As far as the impact on consumers, Bhojwani explained that: "Today's investor faces the reality of a 'new normal' in retirement. The dramatic loss in personal retirement savings has affected most Americans' sense of security."

According to Hewitt Associates, the average 401k lost nearly 30% in 2008. In addition, the U.S. Census Bureau shows that the population is both aging and living longer. This shift in demographics is resulting in a greater need for products with guarantees and lifetime income.

"It is a near-certain probability that the financial-based global economy of the past half-century will not return," said economic guru and head of Allianz Life sister company, PIMCO Managing Director William H. Gross.

"Saving for the future has taken on increased importance," said Robert DeChellis, senior vice president of distribution for Allianz Life. "Our products provide both choice and flexibility to help consumers choose the best way to comfortably accumulate retirement assets and create income to maintain their current lifestyle."

A deferred variable annuity, Allianz Vision(TM) and its optional riders* provide retirement income guaranteed for life while offering the potential to increase income in varying market conditions through annual payment increases, a unique feature only offered by Allianz Life. Available through many Broker/Dealers, the new optional riders for Allianz Vision are available at an additional cost and already approved for sale in 39 states:

Income Protector is a rider with a lifetime income benefit to help consumers build a protected source of income with a guaranteed growth rate and an attractive annual anniversary payment increases based on positive contract value performance.

Investment Protector is a rider with an accumulation benefit that protects assets and locks in 95% annual gains, and incorporates a life-cycle investment strategy.

Other Bold Moves

Other Allianz Life initiatives have included applying Market-Consistent Embedded Value (MCEV) for risk modeling, and expanding its industry-leading suitability program to all 50 states.

Allianz Life uses multiple risk measurement tools to manage its business, including MCEV, a model commonly used in Europe that is now making its way to the United States. MCEV is an analysis of profit and risk, identifying all investment risks embedded in insurance products. This model is known for its conservative bent relative to approaches typically used in the U.S., which is proving valuable during these volatile times.

In addition, Allianz Life has taken active steps to raise the bar for corporate responsibility and consumer protection by launching a series of nationally uniform standards for the selling and servicing of its fixed annuities and fixed index annuities (FIAs). These standards have been recognized by regulators and industry associations as best practices and exceed most state regulatory requirements. The company has also significantly invested in product and financial training programs for the "new normal."

*The Vision Variable Annuity annual mortality and expense risk charge rage from 1.40% to 1.75% depending on the contact selected. The optional Income Protector Rider current charge at issue is 1.05% to 1.20% of the Benefit Base depending on the Lifetime Plus Payment selected. The rider charge is subject to change (not to exceed the maximum of 2.50% to 2.75%). The optional Investment Protector Rider current charge at issue is 0.80% of the Target Value. The rider charge is subject to change (not to exceed the maximum of 2.50%.

For more complete information about Allianz Vision Variable Annuity and variable investment options, call Allianz Life Financial Services, LLC at 800.624.0197 for a prospectus that contains details on investment objectives, risks, fees and expenses, as well as other information about the variable annuity and investment options, which you should carefully consider. You are encouraged to read the prospectuses thoroughly before sending money.

Guarantees are backed by the financial strength and claims-paying ability of Allianz Life Insurance Company of North America and do not apply to the performance of the variable subaccounts, which fluctuate with market conditions.

Products issued by Allianz Life Insurance Company of North America. Variable products are distributed by its affiliate, Allianz Life Financial Services, LLC, Member FINRA, 5901 Golden Hills Drive, Minneapolis, MN 55416. www.allianzlife.com. Products are not backed or guaranteed by any affiliate.

About Allianz Life

Founded in 1896 and based in Minneapolis, Allianz Life provides annuities, as well as life and long-term care insurance in the United States. Allianz Life products are offered through a nationwide network of independent distribution. The company is part of Allianz SE, a global financial services group employing nearly 155,000 people worldwide.