EARNINGS PROTECTION 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),
Amount During less any deductions we make to reimburse us for any
The Accumulation applicable Premium Tax:
Period (a) The Contract Value determined as of the end of the
Business Day during which the Service Center receives
both due proof of death and an election for the payment
method.
(b) The Earnings Protection Guaranteed Minimum Death
Benefit (GMDB) value, as defined below, determined
as of the end of the Business Day during which the
Service Center receives both due proof of death and
an election for the payment method.
The Earnings Protection GMDB value is equal to the greater
of (c) adjusted total Purchase Payments, or (d) the
Contract Value Plus.
(c) Adjusted total Purchase Payments is the total Purchase
Payments received, not including any applicable bonus,
reduced by adjusted partial withdrawals for each
withdrawal taken before you exercise the Guaranteed
Partial Withdrawal Benefit (GPWB), if applicable.
For partial withdrawals or Traditional Annuity Payments
under a Partial Annuitization, an adjusted partial
withdrawal is equal to: (1) x (3) / (4). For GMIB
Payments under a Partial Annuitization, an adjusted
partial withdrawal is equal to: (2) x (3) / (5).
(1) = the amount of any Contract Value applied to
Traditional Annuity Payments under a Partial
Annuitization, or amounts withdrawn, including
any withdrawal charge.
(2) = the amount of any PB Value applied to GMIB
Payments under a Partial Annuitization.
(3) = the greater of (a) Contract Value, or (b) total
Purchase Payments received, not including any
applicable bonus, minus prior adjusted partial
withdrawals, on the date of, but before, the
current partial withdrawal.
(4) = the Contract Value on the date of, but before,
the partial withdrawal.
(5) = the PB Value on the date of, but before, the
partial withdrawal.
(d) Before you exercise the GPWB the Contract Value Plus
is the Contract Value calculated in (a) plus the
lesser of (1) or (2) multiplied by [50%] if all
Contract Owners are age 69 or younger on the Issue
Date, or [30%] if any of the Contract Owners are age
70 or older on the Issue Date, where:
(1) is the Contract Value as described in (a) above
minus total Purchase Payments received, not
including any applicable bonus; or
(2) is [three] times the total Purchase Payments
[received, not including any applicable bonus,
in the first 2 Contract Years from the Issue
Date].
On the date you exercise the GPWB, if applicable, (b)
above stops increasing, and will decrease proportionately
by the percentage of any Contract Value withdrawn,
including any withdrawal charge, for each GPWB Payment
and/or any Excess Withdrawals taken 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.
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PROCEEDS PAYABLE ON DEATH (continued)
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Death Benefit Amount An election by the spouse to continue the Contract
During The must be made by an Authorized Request on the death claim
Accumulation Period form before we pay the death benefit. In this event, the
(continued) Contract Value for the Business Day during which this
election is implemented will be adjusted, if necessary, to
equal the death benefit. The Contract Value is then
treated as the total Purchase Payments, not including any
applicable bonus, in the calculation of the death benefit
for the Contract continued by the spouse.
Any part of the death benefit amount that has 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 amountin 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
Earnings Protection a Full Annuitization,
Guaranteed Minimum (b) the Business Day that the Earnings Protection GMDB
Death Benefit Value and the 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 "Valuation
Interchangeably Date," where applicable. The term "withdrawal charges" is
Between Base used to also mean "Contingent Deferred Sales
Contract and Charges", where applicable. The term "withdrawal" is used
Rider to 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.
Contract Value Plus One of the values used to determine the Earnings
Protection GMDB value.
Earnings Protection The death benefit that is provided by this rider.
Guaranteed Minimum
Death Benefit
Full Annuitization This occurs once you apply the entire Contract 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.
This occurs when you apply only part of the Contract
Partial Value part of the PB Value to GMIB Payments. If you take
Annuitization a Partial Annuitization the Accumulation Phase to
Traditional Annuity Payments, or 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.
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GLOSSARY (continued)
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Traditional Annuity Annuity Payments we make based on the Adjusted Contract
Payment Value.
Terms defined in the The following terms are defined in the PRIME Plus Rider.
PRIME Plus Benefit If the PRIME Plus Benefit Rider is not attached to your
Benefit Rider Contract, these terms do not apply to this Rider.
(1) Excess Withdrawals
(2) GMIB Payments
(3) GPWB Payments
(4) PB Value
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
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Secretary President
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