RETURN OF PRINCIPAL GUARANTEED MINIMUM DEATH BENEFIT ENDORSEMENT
This Endorsement forms a part of the Contract to which it is attached and is
effective as of the Issue Date of the Contract. In the case of a conflict with
any provision in the Contract, the provisions of this Endorsement will control.
The following hereby amends and supersedes the sections of the Contract entitled
"Proceeds Payable On Death - Death Benefit Amount During The Accumulation
Period".
PROCEEDS PAYABLE ON DEATH
DEATH BENEFIT AMOUNT DURING THE ACCUMULATION PERIOD: The death benefit payable
will be the greater of 1 or 2, less any applicable Premium Tax and any
applicable charges:
1. The Contract Value determined as of the end of the Valuation Period during
which the Service Center receives both due proof of death and an election
of the payment method; or
2. The total Purchase Payments made, less any adjusted partial withdrawals.
In the first five Contract years, an adjusted partial withdrawal is the partial
withdrawal (including any withdrawal charges) multiplied by the ratio of (a) to
(b), where:
(a). is the death benefit on the date of (but prior to) the partial withdrawal;
and
(b). is the Contract Value on the date of (but prior to) the partial withdrawal.
After the first five Contract years, an adjusted partial withdrawal is described
as set forth in the Contract Schedule.
If the Beneficiary 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. In this event, the Contract Value for the
Valuation Period during which this election is implemented will be adjusted to
equal the death benefit.
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 amount
in the Variable Account will be subject to investment risk, which is borne by
the Beneficiary.
Signed for Allianz Life Insurance Company of North America by:
/s/ /s/
Vice President and Secretary President
S20224
