Common use of Payment of Benefits Clause in Contracts

Payment of Benefits. The loss of life benefit of an Account Holder will be paid to the designated beneficiary. This choice must be in writing and filed with Allianz Global Assistance. All other benefit amounts for Losses suffered by the Account Holder are paid to the Account Holder. The loss of life benefit of a Spouse or Dependent Child will be paid to the Account Holder, if living, otherwise to the designated beneficiary. This choice must be in writing and filed with Allianz Global Assistance. All other benefit amounts for Losses suffered by the Spouse or Dependent Child are paid to the Spouse or Dependent Child, except that any amount payable for Losses sustained by a minor will be paid to the minor’s legal guardian. If the Insured Person has not chosen a beneficiary, or if there is no beneficiary alive when the Insured Person dies, Allianz will pay the benefit amount to the first surviving class in the following order:

Payment of Benefits. The loss of life benefit of an Account Holder will be paid to the designated beneficiary. This choice must be in writing and filed with Allianz Global Assistance. All other benefit amounts for Losses suffered by the Account Holder are paid to the Account Holder. The loss of life benefit of a Spouse or Dependent Child will be paid to the Account Holder, if living, otherwise to the designated beneficiary. This choice must be in writing and filed with Allianz Global Assistance. All other benefit amounts for Losses suffered by the Spouse or Dependent Child are paid to the Spouse or Dependent Child, except that any amount payable for Losses sustained by a minor will be paid to the minor’s legal guardian. If the Insured Person has not chosen a beneficiary, or if there is no beneficiary alive when the Insured Person dies, Allianz TD Life will pay the benefit amount to the first surviving class in the following order:Account Holder’s estate.

Payment of Benefits. The loss of life benefit of an Account Holder will be paid to the designated beneficiary. This choice must be in writing and filed with Allianz Global Assistance. All other benefit amounts for Losses suffered by the Account Holder are paid to the Account Holder. The loss of life benefit of a Spouse or Dependent Child will be paid to the Account Holder, if living, otherwise to the designated beneficiary. This choice must be in writing and filed with Allianz Global Assistance. All other benefit amounts for Losses suffered by the Spouse or Dependent Child are paid to the Spouse or Dependent Child, except that any amount payable for Losses sustained by a minor will be paid to the minor’s legal guardian. If the Insured Person has not chosen a beneficiary, or if there is no beneficiary alive when the Insured Person dies, Allianz TD Life will pay the benefit amount to the first surviving class in the following order:Account Holder’s Estate.