Updating Summary Prospectus (Form 497VPU)

VisionTM VARIABLE ANNUITY CONTRACT issued on or prior to April 26, 2013

Issued by Allianz Life Variable Account B and Allianz Life Insurance Company of North America (Allianz Life, we, us, our)

 

Updating Summary Prospectus 

THE CONTRACT IS NO LONGER OFFERED FOR SALE TO NEW INVESTORS. We continue to administer the in force Contracts. For Contracts issued before August 17, 2009, we only accept additional Purchase Payments if your Contract was issued in Connecticut, Florida, or New Jersey. However, we do not accept additional Purchase Payments (regardless of state or date of issue) if you have Investment Protector or a 403(b) Contract.

This Summary Prospectus summarizes key features of an individual flexible purchase payment 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 [email protected].

This prospectus describes two different versions of the Contract. "Version A" Contracts were issued on or prior to April 29, 2011. "Version B" Contracts were issued from May 2, 2011 through April 26, 2013. Version A Contracts and Version B Contracts were offered with different optional benefits. This prospectus also describes the four different Contract classes that we offered for Version A Contracts and Version B Contracts: "Base Option," "Bonus Option," "Short Withdrawal Charge Option," and "No Withdrawal Charge Option." If you did not elect the Bonus Option, Short Withdrawal Charge Option, or No Withdrawal Charge Option when you purchased the Contract, you have a Base Option Contract. The classes have different fees and expenses (including withdrawal charges and annual charges) and may have different features.

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, taxes, and tax penalties.

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

The Securities & 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 variable annuities, has been prepared by the SEC's staff and is available at https://www.investor.gov.

Dated: May 1, 2026

 

Glossary		3
Updated Information About Your Contract		5
Important Information You Should Consider About the Contract		6
Appendix A - Investment Options Available Under the Contract		10

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 where you can find more detailed information.

Accumulation Phase - the initial phase of your Contract before you apply your total Contract Value to Annuity Payments. The Accumulation Phase begins on the Issue Date and may occur at the same time as the Annuity Phase if you take Partial Annuitizations.

Base Option -if you did not elect the Bonus Option, Short Withdrawal Charge Option, or No Withdrawal Charge Option when you purchased the Contract, you have a Base Option Contract.

Benefit Base - the amount we use to determine the initial annual maximum Lifetime Plus Payment under Income Protector or under the Lifetime Benefits.

Benefit Date - the date you begin receiving Lifetime Plus Payments under Income Protector or the Lifetime Benefits, or Income Focus Payments under Income Focus.

Bonus Option - a Contract class that provides a 6% bonus on Purchase Payments we receive before the older Owner reaches age 81 subject to a three-year vesting schedule. A Bonus Option Contract has a higher mortality and expense risk (M&E) charge and a higher and longer withdrawal charge schedule compared to other Contract classes. The higher charges associated with a Bonus Option Contract may more than offset any bonus amounts.

Contract - the individual flexible purchase payment variable deferred annuity contract described by this prospectus.

Contract Value - on any Business Day, the sum of the values in your selected Investment Options. The Contract Value reflects the deduction of any contract maintenance charge, transfer fee, M&E charge, and rider charge, but does not reflect the deduction of any withdrawal charge. It does not include amounts applied to a Partial Annuitization. If you have the Bonus Option, Contract Value includes only vested bonus amounts; it does not include unvested bonus amounts.

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

Financial Professional - the person who advises you regarding the Contract.

Full Annuitization - the application of the total Contract Value to Annuity Payments.

Fund(s) - the underlying fund in which an Investment Option invests.

Income Date - the date we begin making Annuity Payments to the Payee from the Contract. Because the Contract allows for Partial Annuitizations, there may be multiple Income Dates. The earliest available Income Date is two years after the Issue Date, and the latest possible Income Date can occur as late as age 100.

Income Focus - an optional benefit that has an additional rider charge and is intended to provide a payment stream for life in the form of partial withdrawals. Income Focus provides no payment until the younger Covered Person is at least age 60.

Income Protector - an optional benefit that has an additional rider charge and is intended to provide a payment stream for life in the form of partial withdrawals. Income Protector provides no payment until the younger Covered Person is at least age 65 for Income Protector (08.09), or age 60 for all other versions of Income Protector.

Investment Options - the subaccounts of the Separate Account and the variable investment options available under the Contract. Each Investment Option invests exclusively in the shares of its corresponding underlying Fund.

Investment Protector - an optional benefit that has an additional rider charge and is intended to provide a level of protection for your principal and any annual investment gains on a specific date in the future.

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

No Withdrawal Charge Option - a Contract class that has a higher M&E charge, but no withdrawal charges.

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.

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).

Quarterly Anniversary Value - the highest Contract Value on any Quarterly Anniversary before age 91, adjusted for subsequent Purchase Payments and withdrawals, used to determine Income Protector's Benefit Base, and the Quarterly Value Death Benefit.

Quarterly Value Death Benefit - an optional benefit that has an additional M&E charge and was intended to provide an increased death benefit. Quarterly Value Death Benefit version 2 or version 3 required selection of an Additional Required Benefit.

Rider Year - any period of twelve months beginning on the Rider Effective Date or a subsequent Rider Anniversary if you have Income Protector, Income Focus or Investment Protector.

Short Withdrawal Charge Option - A Contract class that has a higher M&E charge, but a shortened withdrawal charge period of four years.

Traditional Death Benefit - the standard death benefit provided by the Contract that is equal to the greater of Contract Value or the Traditional Death Benefit Value.

Traditional Death Benefit Value - total Purchase Payments adjusted for withdrawals.

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.

Important Information You Should Consider About the Contract 

	FEES, EXPENSES, AND ADJUSTMENTS			Prospectus Location
Are There Charges or Adjustments for Early Withdrawals?	Yes, your Contract may be subject to withdrawal charges that differ depending on the Contract class you have (Base Option, Bonus Option, Short Withdrawal Charge Option, or No Withdrawal Charge Option).   • Base Option. If you withdraw money from the Contract within 7 years of your last Purchase Payment, you will be assessed a withdrawal charge of up to 8.5% of the Purchase Payment withdrawn, declining to 0% over that time period. • Bonus Option. If you withdraw money from the Contract within 9 years of your last Purchase Payment, you will be assessed a withdrawal charge of up to 8.5% of the Purchase Payment withdrawn, declining to 0% over that time period. • Short Withdrawal Charge Option. If you withdraw money from the Contract within 4 years of your last Purchase Payment, you will be assessed a withdrawal charge of up to 8.5% of the Purchase Payment withdrawn, declining to 0% over that time period. • No Withdrawal Charge Option. No withdrawal charge.   For example, if you invest $100,000 in the Contract and make an early withdrawal, you could pay a withdrawal charge of up to $8,500 if you have a Base Option, Bonus Option, or Short Withdrawal Charge Option Contract. No withdrawal charges would apply to a No Withdrawal Charge Option Contract. The potential for loss on an early withdrawal could be greater due to taxes or tax penalties.			Fee Tables   6. Expenses - Withdrawal Charge
Are There Transaction Charges?	Yes, in addition to withdrawal charges (if any), you may also be charged for other Contract transactions. We will charge you a fee of $25 per transfer after you exceed 12 transfers between Investment Options (the variable investments available to you) in a Contract Year.			Fee Tables   6. Expenses - Transfer Fee
Are There Ongoing Fees and Expenses?	Yes, there are ongoing fees and expenses. The table below describes the fees and expenses that you may pay each year, depending on the options you choose. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have elected. These ongoing fees and expenses do not reflect any adviser fees paid to an investment adviser from your Contract Value or other assets of the Owner. If such charges were reflected, these ongoing fees and expenses would be higher.			Fee Tables   6. Expenses   Appendix A - Investment Options Available Under the Contract
	Annual Fee	Minimum	Maximum
	Base Contract(1) (varies by Contract class)	1.42%	1.77%
	Investment Options(2) (Fund fees and expenses)	0.50%	3.38%
	Optional Benefits Available for an Additional Charge (for a single optional benefit, if elected)	0.30%(3)	2.75%(4)
	(1) As a percentage of each Investment Option's average net assets, plus an amount attributable to the contract maintenance charge.
	(2) As a percentage of a Fund's average daily net assets.
	(3) As a percentage of each Investment Option's average net assets. This is the lowest current charge for an optional benefit (the Quarterly Value Death Benefit).
	(4) As a percentage of the Benefit Base. This is the highest current charge for an optional benefit (Income Protector - joint payments).

Appendix A - Investment Options Available Under the Contract

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 [email protected]. Depending on the optional benefits you chose, you may not be able to invest in certain Investment Options. See Appendix B - Investment Restrictions for Optional Benefits.

The current expenses and performance information below reflects fees and expenses of the Funds, but does 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. Each Fund's past performance is not necessarily an indication of future performance. 

Investment Objectives	Fund and Adviser/Subadviser	Current Expenses	Average Annual Total Returns (as of December 31, 2025)
			1 Year	5 Years	10 Years
Long-term capital appreciation with preservation of capital as an important consideration	AZL® Balanced Index Strategy Fund   Adviser: Allianz Investment Management LLC	0.71%	13.34%	5.37%	6.88%
Long-term capital appreciation	AZL® DFA Multi-Strategy Fund   Adviser: Allianz Investment Management LLC	0.87%	15.03%	7.44%	7.91%
Exceed total return of the Bloomberg Capital U.S. Aggregate Bond Index	AZL® Enhanced Bond Index Fund   Adviser: Allianz Investment Management LLC Subadviser: BlackRock Financial Management, Inc.	0.66%	6.86%	-0.72%	1.65%
High level of current income while maintaining prospects for capital appreciation	AZL® Fidelity Institutional Asset Management® Multi-Strategy Fund - Class 2(1)   Adviser: Allianz Investment Management LLC Subadviser: FIAM® LLC	0.71%	11.22%	6.11%	7.58%
High level of current income	AZL® Fidelity Institutional Asset Management® Total Bond Fund - Class 2   Adviser: Allianz Investment Management LLC Subadviser: FIAM® LLC	0.91%	7.64%	0.31%	2.85%
Current income consistent with stability of principal	AZL® Government Money Market Fund(1)   Adviser: Allianz Investment Management LLC Subadviser: BlackRock Advisors, LLC	0.65%	3.70%	2.62%	1.57%

VisionTM Variable Annuity Prospectus - May 1, 2026

VisionTM Variable Annuity Prospectus - May 1, 2026

VisionTM Variable Annuity Prospectus - May 1, 2026

VisionTM Variable Annuity Prospectus - May 1, 2026

Investment Objectives	Fund and Adviser/Subadviser	Current Expenses	Average Annual Total Returns (as of December 31, 2025)
			1 Year	5 Years	10 Years
Maximum real return, consistent with preservation of real capital and prudent investment management	PIMCO Real Return Portfolio - Admin. Class(1,3)   Adviser: Pacific Investment Management Company LLC	1.39%	7.87%	1.22%	3.20%
Total return, which exceeds that of its secondary benchmark index consistent with prudent investment management	PIMCO StocksPLUS® Global Portfolio - Advisor Class(1)   Adviser: Pacific Investment Management Company LLC	0.93%	24.25%	10.89%	11.08%
Maximum total return, consistent with preservation of capital and prudent investment management	PIMCO Total Return Portfolio - Admin. Class   Adviser: Pacific Investment Management Company LLC	0.73%	8.90%	0.02%	2.36%
High current income, consistent with preservation of capital, with capital appreciation as a secondary consideration	Templeton Global Bond VIP Fund - Class 2(1,3)   Adviser: Franklin Advisers, Inc.	0.75%	15.73%	-0.96%	-0.15%

(1) This Fund's annual expenses reflect temporary fee reductions. Please see the 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 Risks of Investing in the Contract - Managed Volatility Investment Option Risk, or refer to the Fund's prospectus.

(3) This Investment Option is only available to Contracts issued before October 16, 2017.

EDGAR Contract ID No.: C000098186/C000044001

VSN-159-USP

VisionTM Variable Annuity Prospectus - May 1, 2026