Common use of Assignment of this Contract Clause in Contracts

Assignment of this Contract. You can, by Authorized Request, assign or otherwise transfer specific rights under this contract during the Accumulation Phase and before the first Valid Claim. Upon receipt of the Authorized Request, we record the assignment, but we will not be responsible for the validity or effect of the assignment, including the tax consequences of such assignment. We will not be liable to the assignee for any actions we take or payments we make before we receive an Authorized Request of the assignment or transfer. If you assign this contract, you can exercise your rights only with the written consent of the assignee. An assignment does not change the Annuitant or Beneficiary. An assignment does not change any Determining Life, except as described under the definition of “Determining Life”. An assignment that is not an absolute assignment does not change the Owner. L40538-NY03 17 Ownership continued from the previous page Change of Ownership You can, by Authorized Request, change ownership of this contract to a new Owner during the Accumulation Phase and before the first Valid Claim. Upon receipt of the Authorized Request, we record the change of ownership. We will not be responsible for the validity or effect of the change of ownership, including the tax consequences of such transfer. We will not be liable to the new Owner for any actions we take or payments we make before we receive an Authorized Request of the change of ownership. A change of ownership does not change the Annuitant or Beneficiary. A change of ownership does not change any Determining Life, except as described under the definition of “Determining Life”. The new Owner can request a change of Annuitant or Beneficiary by providing an Authorized Request. Non-Individual Owners If this contract is owned by a non-individual, then we treat the Annuitant as the Owner for purposes of determining the payment of any Death Benefit and determining when the Accumulation Phase ends. If the Annuitant dies on a non-individually owned contract, we pay the Death Benefit to the Beneficiary as described in “Who receives the Death Benefit”. The term “non-natural Owner” may also be used to mean “non-individual Owner” in any endorsement and/or rider. Change of Annuitant A non-individual Owner cannot change the Annuitant. Otherwise, you can change the Annuitant during the Accumulation Phase and before the first Valid Claim by providing an Authorized Request. If the Annuitant, who is not an Owner, dies during the Accumulation Phase, a sole Owner automatically becomes the Annuitant, but can name another Annuitant at any time. If there are Joint Owners and the Annuitant who is not an Owner dies, the younger Joint Owner automatically becomes the Annuitant, but the Joint Owners can name another Annuitant at any time. An Annuitant change takes effect as of the date you signed the Authorized Request. We will not be liable for any actions we take or payments we make before we receive the Authorized Request. Change of Beneficiary For solely owned contracts, you can change the Beneficiary at any time by providing an Authorized Request. For jointly owned contracts, the surviving Joint Owner is the sole primary Beneficiary and cannot be changed. An irrevocable Beneficiary must give written consent before we will change the Beneficiary. A Beneficiary change takes effect as of the date you signed the Authorized Request. We are not liable for any actions we take or payments we make before the Service Center receives the Authorized Request.

Assignment of this Contract. You canmay, by Authorized Request, assign or otherwise transfer specific rights under this contract during the Accumulation Phase and before the first Valid ClaimPhase. Upon receipt of the Authorized Request, we will record the assignment, but we . We will not be responsible for the validity or effect of the assignment, including the tax consequences of such assignment. We will not be liable to the assignee for any actions we take or payments we make before we receive an Authorized Request of the assignment or transfer. If you assign this contract, you can exercise your rights only with the written consent of the assignee. An assignment does not change the Annuitant or BeneficiaryBeneficiary(ies). An assignment does not change any Determining Life, except as described under the definition of “"Determining Life”". An assignment that is not an absolute assignment does not change the Owner. L40538-NY03 17 Ownership continued from the previous page Change of Ownership You canmay, by Authorized Request, change ownership of this contract to a new Owner during the Accumulation Phase and before the first Valid ClaimPhase. Upon receipt of the Authorized Request, we will record the change of ownership. An Ownership change will take effect as of the date you signed the Authorized Request. We will not be responsible for the validity or effect of the change of ownership, including the tax consequences of such transfer. We will not be liable to the new Owner for any actions we take or payments we make before we receive an Authorized Request of the change of ownership. A change of ownership does not change the Annuitant or BeneficiaryBeneficiary(ies). A change of ownership does not change any Determining Life, except as described under the definition of “"Determining Life”". The new Owner can request a change of Annuitant or Beneficiary by providing an Authorized Request. Non-Individual Owners If this contract is owned by a non-individual, then we treat the Annuitant as the Owner for purposes of determining the payment of any Death Benefit and determining when the Accumulation Phase ends. If the Annuitant dies on a non-individually owned contract, we pay the Death Benefit to the Beneficiary as described in “Who receives the Death Benefit”. The term “non-natural Owner” may also be used to mean “non-individual Owner” in any endorsement and/or rider. Change of Annuitant A non-individual Owner cannot change the Annuitant. Otherwise, you can change the Annuitant during the Accumulation Phase and before the first Valid Claim by providing an Authorized Request. If the Annuitant, who is not an Owner, dies during the Accumulation Phase, a sole Owner automatically becomes the Annuitant, but can name another Annuitant at any time. If there are Joint Owners and the Annuitant who is not an Owner dies, the younger Joint Owner automatically becomes the Annuitant, but the Joint Owners can name another Annuitant at any time. An Annuitant change takes effect as of the date you signed the Authorized Request. We will not be liable for any actions we take or payments we make before we receive the Authorized Request. Change of Beneficiary For solely owned contracts, you can change the Beneficiary at any time by providing an Authorized Request. For jointly owned contracts, the surviving Joint Owner is the sole primary Beneficiary and cannot be changed. An irrevocable Beneficiary must give written consent before we will change the Beneficiary. A Beneficiary change takes effect as of the date you signed the Authorized Request. We are not liable for any actions we take or payments we make before the Service Center receives the Authorized Request.

Assignment of this Contract. You canmay, by Authorized Request, assign or otherwise transfer specific rights under this contract during the Accumulation Phase and before Phase. We will record the first Valid Claim. Upon receipt assignment as of the date the Authorized RequestRequest is signed by you, we record unless you specify otherwise. We will not consent if the assignment, but we assignment or transfer would violate or result in noncompliance with any applicable state or federal law or regulation. We will not be responsible for the validity or effect of the assignment, including the tax consequences of such assignment. We will not be liable to the assignee for any actions we take or payments we make before we receive an Authorized Request of consent and record the assignment or transfer. An absolute assignment is a change of Ownership. If you assign specific rights under this contract, you can exercise your those specific rights only with the written consent of the assignee. An assignment does not change the Annuitant or Beneficiary. An assignment does not change any Determining Life, except as described under the definition of “Determining Life”Beneficiary(ies). An assignment that is not an absolute assignment does not change the Owner. L40538-NY03 17 Ownership continued from the previous page Change of Ownership You canmay, by Authorized RequestRequest and our written consent, change ownership of this contract to a new Owner during the Accumulation Phase and before Phase. We may refuse to consent to any change of ownership at any time on a non-discriminatory basis. We will not consent if the first Valid Claimchange in ownership would violate or result in noncompliance with any applicable state or federal law or regulation. Upon receipt of the Authorized Requestconsent, we will record the change of ownership, subject to our approval guidelines at the time of the request. An Ownership change will take effect as of the date you signed the Authorized Request. We will not be responsible for the validity or effect of the change of ownership, including the tax consequences of such transfer. We will not be liable to the new Owner for any actions we take or payments we make before we receive an Authorized Request of consent and record the change of ownership. A change of ownership does not change the Annuitant or Beneficiary. A change of ownership does not change any Determining Life, except as described under the definition of “Determining Life”Beneficiary(ies). The new Owner can request a change of Annuitant or Beneficiary by providing an Authorized Request. NonL40538-Individual Owners If this contract is owned by a non-individual, then we treat IADV 14 [Admin Tracking Identifier] Ownership continued from the Annuitant as the Owner for purposes of determining the payment of any Death Benefit and determining when the Accumulation Phase ends. If the Annuitant dies on a non-individually owned contract, we pay the Death Benefit to the Beneficiary as described in “Who receives the Death Benefit”. The term “non-natural Owner” may also be used to mean “non-individual Owner” in any endorsement and/or rider. previous page Change of Annuitant A If you have an individually owned non-individual Owner cannot change the Annuitant. Otherwisequalified contract, you can may, upon Authorized Request, change the Annuitant during the Accumulation Phase and before Phase. For solely owned individual contracts, where the first Valid Claim by providing an Authorized Request. If sole Owner is not the Annuitant, who is not an Owner, the sole Owner automatically becomes the Annuitant if the Annuitant dies during the Accumulation Phase. The Owner may name another Annuitant at any time. For jointly owned contracts, a sole where neither Joint Owner is the Annuitant, the younger Joint Owner automatically becomes the Annuitant, but can Annuitant if the Annuitant dies during the Accumulation Phase. The Joint Owners may name another Annuitant at any time. If there are instead the deceased Xxxxxxxxx was also a Joint Owner, the Joint Owners were Spouses, and the Annuitant who is not an surviving Joint Owner diescontinues the Contract, the younger surviving Joint Owner automatically becomes the Annuitant, but the Joint Owners can Annuitant and may name another Annuitant at any time. For non-individually owned contracts, the Annuitant may not be changed. An Annuitant change takes effect as of the date you signed the Authorized Request, subject to our approval guidelines at that time. We will not be liable for any actions we take or payments we make before we receive the Authorized Request. Change of Beneficiary For solely owned contracts, you can change the Beneficiary at any time by providing an Authorized Request. For jointly owned contracts, the surviving Joint Owner is the sole primary Beneficiary and cannot be changed. An irrevocable Beneficiary must give written consent before we will change the Beneficiary. A Beneficiary change takes effect as of the date you signed the Authorized Request. We are not liable for any actions we take or payments we make before the Service Center receives the Authorized Request.