TRADITIONAL GUARANTEED MINIMUM DEATH BENEFIT RIDER II
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This rider forms a part of the Base Contract to which it is attached and is
effective as of the Issue Date of the Base Contract. In the case of a conflict
with any provision in the Base Contract, the provisions of this rider will
control. Defined terms and contractual provisions are set forth in the Base
Contract or are added in this rider. The following hereby replaces the section
of the Base Contract entitled "Proceeds Payable On Death - Death Benefit Amount
During The Accumulation Period".
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PROCEEDS PAYABLE ON DEATH
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Death Benefit The death benefit is equal to the greater of (a) or (b), less
Amount During any deductions we make to reimburse us for any applicable
The Accumulation Premium Tax:
Period (a) The Contract Value determined as of the end of the
Business Day during which we received at the Service
Center both due proof of death and an election of the
payment method; or
(b) The Traditional Guaranteed Minimum Death Benefit (GMDB)
value, which is equal to the total of all Purchase
Payments, not including any applicable bonus, received
before you exercise the Guaranteed Partial Withdrawal
Benefit (GPWB), if applicable, reduced as follows:
(1) proportionately by the percentage of Contract Value
taken as a withdrawal, including any withdrawal
charge, for each withdrawal taken before you exercise
the GPWB.
(2) proportionately by the percentage of Contract Value
applied to Traditional Annuity Payments under a
Partial Annuitization, for each traditional Partial
Annuitization taken before you exercise the GPWB.
(3) proportionately by the percentage of PB Value applied
to a Guaranteed Minimum Income Benefit (GMIB) Payment
under a Partial Annuitization, for each GMIB Partial
Annuitization taken before you exercise the GPWB.
(4) proportionately by the percentage of Contract Value
withdrawn, including any withdrawal charge, for each
GPWB Payment we make and/or any Excess Withdrawal
taken on or after you exercise the GPWB.
If Joint Owners are named, the age of the older Contract
Owner will be used to determine the death benefit. If a
non-individual owns the Contract, then Contract Owner
shall mean Annuitant and the Annuitant's Age is used to
determine the death benefit.
If the Contract Owner dies during the Accumulation Phase
and the sole Beneficiary or Joint Owner is the spouse of
the Contract Owner, he or she may elect to continue the
Contract in his or her own name and exercise all the
Contract Owner's rights under the Contract.
An election by the spouse to continue the Contract must be
made by an Authorized Request on the death claim form
before we pay the death benefit. In this event, the
Contract Value for the Valuation Period during which this
election is implemented will be adjusted, if necessary, to
equal the death benefit.
Any part of the death benefit amount that had been
invested in the Variable Account remains in the Variable
Account until distribution begins. From the time the death
benefit is determined until complete distribution is made,
any amount in the Variable Account will be subject to
investment risk, which is borne by the Beneficiary.
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GENERAL PROVISIONS
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Conditions for This benefit will terminate on the earliest of:
Termination of the (a) the Business Day before the Income Date that you take a
Traditional Full Annuitization,
Guaranteed Minimum (b) the Business Day that the Traditional GMDB Value and the
Death Benefit Contract Value are both zero, or
(c) contract termination.
Rider Charge The charge for this rider is included in the Mortality
and Expense Risk Charge shown on the Contract Schedule.
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CROSS REFERENCE OF TERMS
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Terms Used The term "Business Day" is used to also mean
Interchangeably "Valuation Date," where applicable. The term "withdrawal
Between charges" is used to also mean "Contingent Deferred Sales
Base Contract Charges", where applicable. The term "withdrawal" is used to
and Rider also mean "surrender", where applicable.
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GLOSSARY
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Definitions Definitions specific to this rider that are not in the Base
Contract follow.
Base Contract The contract to which this rider is attached.
Full This occurs once you apply the entire Contract
Annuitization Value to Annuity Payments. Once you take a Full
Annuitization, you cannot take any additional Partial
Annuitizations. If you take a Full Annuitization, the
Accumulation Phase of the contract will end.
Once you take a Full Annuitization you can no longer make
additional Purchase Payments.
Partial This occurs when you apply only part of the Contract Value to
Annuitization Traditional Annuity Payments, or part of the PB Value to GMIB
Payments. If you take a Partial Annuitization, the
Accumulation Phase and Annuity Phase of the contract may
occur at the same time. [You can take one Partial
Annuitization every 12 months. The maximum number of
annuitizations we allow at any one time is five. If you take
a Partial Annuitization, there can be only one Owner, he/she
must be the Annuitant, and we will not allow the Owner to
designate a joint Annuitant. Partial Annuitizations are not
available to Joint Owners.]
Once you take a Partial Annuitization you can no longer make
additional Purchase Payments to any portion of the Contract
that is in the Annuity Phase.
Traditional Annuity Payments we make based on the Adjusted Contract
Annuity Payment Value.
Traditional The death benefit that is provided by this rider.
Guaranteed Minimum
Death Benefit
Terms defined in The following terms are defined in the PRIME Plus Benefit
the PRIME Plus Rider. If the PRIME Plus Benefit Rider is not attached to
Benefit Rider your Contract, these terms do not apply to this Rider.
(1) Excess Withdrawals
(2) GMIB Payments
(3) GPWB Payments
(4) PB Value
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In all other respects the provisions, conditions, exceptions and limitations
contained in the Base Contract remain unchanged.
Signed for the Company at its home office.
ALLIANZ LIFE INSURANCE COMPANY OF NORTH AMERICA
[/s/ Xxxxx X Xxxxxxxx] [/s/ Xxxx Xxxxxxxx]
Xxxxx X Xxxxxxxx Xxxx Xxxxxxxx
Secretary President
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