ALLIANZ LIFE INSURANCE CO OF NORTH AMERICA - FORM S-1 - EX-99.4II - S40880-IADV TRADITIONAL DEATH BENEFIT RIDER - April 20, 2021

Attached files

file filename
S-1 - INDEX ADVANTAGE INCOME ADV S-1 4-20-21 - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAiaiadvs1apr202021.htm
EX-99.B - APPENDIX B EXHIBIT - DAILY ADJUSTMENT CALCULATION - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex99b.htm
EX-99.24C - POWERS OF ATTORNEY - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex24c.htm
EX-99.4KII - S40906 INCOME MULT BENEFIT RIDER SCHED - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex4kii.htm
EX-99.4KI - S40905 INCOME MULT BENEFIT RIDER - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex4ki.htm
EX-99.4JII - S40898-IADV MAX ANNIV DEATH BENEFIT RIDER SCHED - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex4jii.htm
EX-99.4JI - S40897-IADV MAX ANNIV DEATH BENEFIT RIDER - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex4ji.htm
EX-99.4HII - S40902-01-IADV INCOME BENEFIT RIDER SCHEDULE - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex4hii.htm
EX-99.4HI - S40901-02-IADV INCOME BENEFIT RIDER - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex4hi.htm
EX-99.4G - S40891-01-IADV INDEX PRECISION STRATEGY CREDITING RIDER - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex4g.htm
EX-99.4F - S40889-02-IADV INDEX GUARD STRATEGY CREDITING RIDER - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex4f.htm
EX-99.4EII - S40899-01-IADV INDEX PROTECTON STATEGY WITH CAP RIDER - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex4eii.htm
EX-99.4EI - S40879-01-IADV INDEX PROTECTION STRATEGY CREDITING RIDER - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex4ei.htm
EX-99.4DII - S40904-IADV INDEX PERF STRATEGY RIDER III - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex4dii.htm
EX-99.4DI - S40903 INDEX PERF STRATEGY RIDER II - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex4di.htm
EX-99.4C - ICC21-IAI-APP-ADV APPLICATION - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex4c.htm
EX-99.4BII - S40877 INDEX OPTIONS SCHEDULE - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex4bii.htm
EX-99.4BI - S40875 BASE CONTRACT SCHEDULE - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex4bi.htm
EX-99.4A - L40538 ANNUITY CONTRACT - ALLIANZ LIFE INSURANCE CO OF NORTH AMERICAex4a.htm

Traditional Death Benefit Rider

This rider forms a part of the Base Contract to which it is attached and is effective on the Issue Date shown on the Contract Schedule.  Defined terms and contractual provisions are set forth in the Base Contract or are added in this rider.  This rider terminates as indicated under the Conditions for Termination of this Rider provision.  This is a first-to-die rider.

Definitions

Definitions specific to this rider that are not in the Base Contract follow.

Base Contract
The contract to which this rider is attached. 

Determining Life (Lives)
The person(s) on whose life (lives) we base the Traditional Death Benefit.  We determine the Determining Life (Lives) on the Issue Date. 

On the Issue Date:
•
If the Base Contract is solely owned, the Determining Life is the Owner.
•
If the Base Contract is owned by a non-individual, the Determining Life is the Annuitant.
•
If the Base Contract is jointly owned and the joint Owners are Spouses, the Determining Lives are the joint Owners.

After the Issue Date, if a Determining Life (Lives) is no longer a Spouse of the Owner or Joint Owner, we will remove that person from this rider. If you add or change a Joint Owner, that person will become a Determining Life if they are the current Spouse of an existing Owner.

For jointly owned non-qualified contracts, if you establish a trust and change ownership to the trust, the prior Owner who is not the Annuitant no longer qualifies as a Determining Life and we remove him or her as such from this rider.

Death Benefit

The following is replacing the “Death Benefit” provision under the “Death Benefit” section of the Base Contract.  If this rider terminates, we revert back to the “Death Benefit” provision of the Base Contract.

Traditional Death Benefit
During the Accumulation Phase, if you (the Owner, or Annuitant if the Owner is a non-individual) are the Determining Life and you die, or if you die within 120 hours of a Determining Life (Lives), the Traditional Death Benefit is equal to the greater of (a), (b),  or (c).
(a)
The Contract Value
(b)
The Cash Value;
(c)
The total of all Purchase Payments received reduced proportionately by the percentage of Contract Value withdrawn as a Partial Withdrawal, including any corresponding Partial MVAs. 
•
For a sole Beneficiary, we determine (a), (b), and (c) at the end of the Business Day we receive a Valid Claim from the Beneficiary.
•
For multiple Beneficiaries, we determine (c) for each surviving Beneficiary’s portion of the Traditional Death Benefit at the end of the Business Day we receive the first Valid Claim from any one Beneficiary.  We determine the (a) and (b) for each surviving Beneficiary’s portion of the Traditional Death Benefit as of the end of the Business Day we receive his or her Valid Claim.

However, if you (the Owner, or Annuitant if the Owner is a non-individual) and the Determining Life (Lives) are different individuals:
•
If any Determining Life dies before you, we compare (a), (b), and (c) determined at the end of Business Day we receive due proof of a Determining Life’s death. If (a) is less than (b) or (c), we increase your Contract Value to equal the higher of (b) or (c).  The difference between the (a) and (b) or (c) will be placed in the Interim Fund(s). On the next Index Anniversary, we then allocate the Cash Value in the Interim Fund(s) among your selected Allocation Options according to your most recent allocation instructions.
If you die before any Determining Life, the Traditional Death Benefit is unavailable and instead your Beneficiary(s) will receive the Death Benefit described in the Base Contract.




Death Benefit continued from previous page

Any part of the Death Benefit that is in the subaccounts remains there until distributed.

The following replaces the last paragraph of “Continuation of Contract by the Surviving Spouse” provision.

If at the end of the Business Day that the contract continues, (b) or (c)  is greater than (a)  the difference between the greater of (b) or (c) and (a) will be placed in the Interim Fund(s).  On the next Index Anniversary, we then allocate the Cash Value in the Interim Fund(s) among your selected Allocation Options according to your most recent allocation instructions. 

Ownership

The following is added to the “Assignment of this Contract” and “Change of Ownership” provisions.

Assignment of this Contract
An assignment does not change any Determining Life, except as described under the definition of “Determining Life”.

Change of Ownership
A change of ownership does not change any Determining Life, except as described under the definition of “Determining Life”.

Rider Fee

There is no fee for this rider.

Termination of this Rider

This rider terminates on the earliest of the following. 
•
The Business Day that the total Purchase Payments adjusted for Withdrawals and the Contract Value are both zero. 
•
The Business Day before the Annuity Date. 
•
Upon the death of any Determining Life, the end of the Business Day we receive a Valid Claim from all Beneficiaries, if the Determining Life is the Owner (or Annuitant if the Owner is a non-individual) or if the Determining Life dies simultaneously with the Owner.
•
Upon the death of any Determining Life, the end of the Business Day we receive an Authorized Request of due proof of the Determining Life’s death, if the Determining Life is no longer an Owner (or Annuitant if the Owner is a non-individual).
•
Upon the death of any Owner (or Annuitant if the Owner is a non-individual), the end of the Business Day we receive the first Valid Claim from  any one Beneficiary, if the Owner is no longer a Determining Life.
The Business Day that the Base Contract terminates. 
S40880-IADV  1                                                                        [Admin. Tracking Identifier]                                                                  
•


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
[                       ]
[Gretchen Cepek]                                                                   [Walter R. White]
Secretary                                                                                    President and CEO

To obtain information, make an inquiry, or for assistance with a complaint,
please call our toll-free number at [800.624.0197].
S40880-IADV  3                                                                        [Admin. Tracking Identifier]