Divorce. If Spouses divorce on or after the Issue Date, we will treat any request to transfer or divide benefits under the contract as a request for a Full or Partial Withdrawal payable to you. The Full or Partial Withdrawal will be subject to any applicable taxes and Withdrawal Charges.
Appears in 2 contracts
Samples: Individual Flexible Purchase Payment Variable Deferred Annuity Contract (Allianz Life Variable Account B), Individual Flexible Purchase Payment Variable Deferred Annuity Contract (Allianz Life Insurance Co of North America)
Divorce. If Spouses divorce on or after the Issue Date, we will treat any request to transfer or divide benefits under the contract as a request for a Full or Partial Withdrawal payable to you. The Full or Partial Withdrawal will be subject to any applicable taxes and Withdrawal Charges.Withdrawal
Appears in 2 contracts
Samples: Individual Flexible Purchase Payment Variable and Index Linked Deferred Annuity Contract (Allianz Life of Ny Variable Account C), Individual Flexible Purchase Payment Variable and Index Linked Deferred Annuity Contract (Allianz Life Insurance Co of New York)
Divorce. If Spouses divorce on or after the Issue Date, we will treat any request to transfer or divide benefits under the contract as a request for a Full or Partial Withdrawal payable to you. The Full or Partial Withdrawal will be subject to any applicable taxes and Withdrawal Charges. If we receive notice of divorce as an Authorized Request, we will remove one former Spouse from the contract as an Owner, Joint Owner, Annuitant or Beneficiary.
Appears in 2 contracts
Samples: Individual Flexible Purchase Payment Variable Deferred Annuity Contract (Allianz Life Variable Account B), Individual Flexible Purchase Payment Variable Deferred Annuity Contract (Allianz Life Insurance Co of North America)
Divorce. If Spouses divorce on or after the Issue Date, we will treat any request to transfer or divide benefits under the contract as a request for a Full or Partial Withdrawal payable to you. The Full or Partial Withdrawal will be subject to any applicable taxes and Withdrawal ChargesMarket Value Adjustment. If we receive notice of divorce as an Authorized Request, we will remove one former Spouse from the contract as an Owner, Joint Owner, Annuitant or Beneficiary.
Appears in 1 contract
