Common use of Assignment of this Contract Clause in Contracts

Assignment of this Contract. During the Accumulation Phase only, you may, by Authorized Request, assign or otherwise transfer specific rights under this contract. We will record the assignment as of the date the Authorized Request is signed by you, unless you specify otherwise. We will not consent if the 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 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 those specific rights only with the written consent of the assignee. An assignment does not change the Annuitant or Beneficiary(ies). An assignment that is not an absolute assignment does not change the Owner.