3-504 11-197 Page 1 Transamerica Life Insurance Company Of New York Transamerica Life Insurance Company of New York Home Office: 100 Manhattanville Road Purchase, New York 10577-2135 A Stock Company ABOUT YOUR POLICY This is a legal policy between...




                              3-504 11-197 Page 1
Transamerica Life Insurance Company
Of New York
                       Transamerica Life Insurance Company of New York
                       Home Office:  000 Xxxxxxxxxxxxxx Xxxx
                       Xxxxxxxx, Xxx Xxxx 00000-0000
                       A Stock Company


ABOUT YOUR POLICY







This is a legal policy between you, the "owner", and Transamerica Life Insurance
Company  of New York  (referred  to as "we",  "us",  and "our" in this  policy).
Please read it carefully.

The owner will be  entitled  to certain  benefits  provided  under this  policy,
subject to its provisions.



Right to Cancel
The owner  may  cancel  this  policy by  returning  it to:  (a) the agent or (b)
Transamerica  Life Insurance Company of New York,  Annuity Service Center,  P.O.
Box 31848,  Charlotte,  North Carolina 28231-1848,  before midnight of the tenth
day after  receipt of the policy.  The return of the policy will be effective as
of the date the notice is  received.  We will refund an amount  equal to the sum
of: (i) all premiums  allocated to the fixed account less any  withdrawals;  and
(ii) the variable accumulated value of the policy.







PAYMENTS  AND VALUES  PROVIDED  UNDER THIS POLICY  WHEN BASED ON THE  INVESTMENT
PERFORMANCE  OF THE VARIABLE  ACCOUNT ARE VARIABLE AND ARE NOT  GUARANTEED AS TO
DOLLAR  AMOUNT.  REFER  TO PAGE 7 FOR  ADDITIONAL  INFORMATION  ON THE  VARIABLE
ACCOUNT.  THE SMALLEST ANNUAL RATE OF INVESTMENT  RETURN ON THE VARIABLE ACCOUNT
SO THAT THE DOLLAR  AMOUNT OF VARIABLE  ANNUITY  PAYMENTS  WILL NOT  DECREASE IS
5.55%


                 TRANSAMERICA LIFE INSURANCE COMPANY OF NEW YORK


                    Xxxx X. Xxxxxxxxxx       Xxxxxxxxx X. Xxxxxxx

                          PRESIDENT           CHAIRMAN







                  Individual Flexible Premium Deferred Annuity
                  Variable and fixed dollar settlement options
                          Separate Account Investments
                     Non-participating - No annual dividends









----------------------------------
Information page
----------------------------------

----------------------------------
                     Policy Information                                          Beneficiary Information
-------------------------------------------------------------- ------------------------------------------------------------
-------------------------------------------------------------- ------------------------------------------------------------

Policy Number:                            Specimen             Beneficiary:               Xxxx Xxx
                                                                                            
Policy Effective Date:                    July 1, 1997         Date of Birth:             January 1, 1959
Income Tax Status:                        Non-Qualified        Tax ID Number:    999-99-9999
Initial Premium:                          $20,000
Annuity Date:                             July 1, 2044

-------------------------------------------------------------- ------------------------------------------------------------
                      Owner Information                                           Annuitant Information
-------------------------------------------------------------- ------------------------------------------------------------

Owner:                     Xxxx Xxx                            Xxxxxxxxx:                   Xxxx Xxx
Date of Birth:             January 1, 1959                     Date of Birth:               January 1, 1959
Tax ID Number:             999-99-9999                         Tax ID Number:               999-99-9999

-------------------------------------------------------------- ------------------------------------------------------------
-------------------------------------------------------------- ------------------------------------------------------------
                   Joint Owner Information                                     Joint Annuitant Information
-------------------------------------------------------------- ------------------------------------------------------------

Joint Owner:               Xxxx Xxx                            Joint Annuitant:           Xxxx Xxx
Date of Birth:             January 1, 1959                     Date of Birth:             January 1, 1959
Tax ID Number     :        999-99-9999                         Tax ID Number:    999-99-9999

-------------------------------------------------------------- ------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------
                          Allocation of Initial Premium
---------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------- ------------------------------------------------------------
Variable Sub-accounts
 [Alliance VPF Premier Growth                     ____%        Xxxxxx Xxxxxxx UF Fixed Income]                   ____%
Alliance VPF Growth and Income]                      ____%     Xxxxxx Xxxxxxx UF High Yield]                     ____%
Xxxxx American Income and Growth                  ____%        Xxxxxx Xxxxxxx UF International Magnum]           ____%
Dreyfus VIF Capital Appreciation                  ____%        OCC Accumulation Trust Managed                    ____%
Dreyfus VIF Small Cap]                            ____%        OCC Accumulation Trust Small Cap                  ____%
Janus Aspen Balance                               ____%        Transamerica VIF Growth Fund                      ____%
Janus Aspen Worldwide Growth                      ____%        Transamerica VIF Money Market Portfolio           ____%]
MFS VIT Emerging Growth                           ____%        Fixed  Account                                    ____%
MFS VIT Growth and Income                         ____%
MFS VIT Research                                  ____%                                   Total Allocation:       100%

-------------------------------------------------------------- ------------------------------------------------------------


The data above reflects the information you provided us to issue this policy. If
you  wish  to  change/correct  any  information  on this  page or for  inquiries
regarding coverage or customer service please call us immediately at our service
center.



SERVICE CENTER:                Transamerica Life Insurance Company of New York
                               Annuity Service Center
                               P.O. Box 31848
                               Charlotte, North Carolina  28231-1848
                               0-000 000-0000










                             ANNUAL CHARGES AND FEES
                             Charges  and fees at the time we issued this policy
are shown below.
------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------- --------------------------------------------------------------
                                                            
Mortality and Expense Risk Charge                               1.20% of the assets in each variable sub-accoun]
--------------------------------------------------------------
                                                                -------------------------------------------------------------
Administrative                                                  Expense   Charge
                                                                Currently  0.15%
                                                                of the assets in
                                                                each    variable
                                                                sub-account.
                                                                Guaranteed never
                                                                to exceed 0.35%.
--------------------------------------------------------------  -------------------------------------------------------------
Transfer Fee                                                    $10 for each transfer over twelve in each policy year
                                                                -------------------------------------------------------------
--------------------------------------------------------------
Systematic Withdrawal Fee                                       $25
--------------------------------------------------------------
                                                                -------------------------------------------------------------
Account Fee (before the annuity date)                           $30 or 2% of the policy value if less
                                                                 We will waive if policy value is over $50,000
--------------------------------------------------------------  -------------------------------------------------------------
Annuity Fee (after the annuity date)                            $30
--------------------------------------------------------------


--------------------------------------------------------------- --------------------------------------------------------------




                         CONTINGENT DEFERRED SALES LOAD
                  Number of Complete Years                    Contingent Deferred Sales Load
                  From Receipt of Premium                     as a Percentage of Premium
                  Less than 1 year................................................6%
                                                                        
                  1 year but less than 2 years....................................6%
                  2 years but less than 3 years...................................5%
                  3 years but less than 4 years...................................5%
                  4 years but less than 5 years...................................4%
                  5 years but less than 6 years...................................4%
                  6 years but less than 7 years...................................2%
                  7 or more years.................................................0%



Additional Information

          Minimum Initial Premium:                                     $5,000
                                                              $2,000 for IRA's

          Additional Premium Minimum:                                  $1,000

          Maximum Total Premium(s):                               $1,000,000

          Minimum Initial Variable Sub-account Allocation or Transfer:  $1,000

          Minimum Initial Fixed Account Allocation or Transfer:         $1,000

          Maximum Transfer Percentage
     from the Fixed Account:                                             25%

          Minimum Policy Value:                                         $2,000









--------------------------------------------------
Table of Contents
--------------------------------------------------










                                                                                                 PAGE

                                                                                                 
                    INFORMATION PAGE...............................................................2 & 3


                    DEFINITIONS....................................................................5

                    OWNER, ANNUITANT, BENEFICIARY..................................................................5

                    ESTABLISHING                                                                                       THIS
                    POLICY.................................................................................6

                    THE VARIABLE ACCOUNT......................................................................................7

                    THE                                                                                               FIXED
                    ACCOUNT...............................................................................................8

                    TRANSFER
                    PROVISIONS..........................................................................................9

                    WITHDRAWAL PROVISIONS...................................................................................9

                    SETTLEMENT OPTION PROVISIONS ...................................................................10

                    SETTLEMENT OPTION PAYMENTS.......................................................................11

                    DEATH BENEFIT PROVISIONS ...............................................................................12

                    CHARGES, FEES AND SERVICES ...........................................................................13

                    GENERAL                                                                                      PROVISIONS
                    ............................................................................................14

                    APPENDIX - ANNUITY RATE TABLES....................................................................15






Definitions




3-504 11-197 Page 9 Annuity Date The date the annuitization phase of this policy
begins. The annuity date is shown on the Information Page. The annuity
date can not be later than the Annuitant's 90th birthday.

Cash Surrender Value
The  amount we will pay to the owner if the policy is  surrendered  on or before
the annuity date.  The cash surrender  value is equal to the policy value;  less
any account fee, contingent deferred sales load, or premium tax charges.

Code
The Internal  Revenue Code of 1986,  as amended,  and the rules and  regulations
issued under it.

Fixed Account
An account  which  credits a rate of  interest  for a period of at least  twelve
months for each allocation or transfer.

Fixed Account Accumulated Value
The total  dollar  value of all amounts the owner  allocates or transfers to the
fixed account;  plus interest credited;  less any amounts withdrawn,  applicable
fees and premium tax charges, and/or transfers out to the variable account prior
to the annuity date.

Policy Anniversary
The  anniversary  each  year  of the  policy  effective  date  as  shown  on the
Information Page.

Policy Value
The sum of the  variable  accumulated  value and the fixed  account  accumulated
value.

Policy Year
The 12-month  period  starting on the policy  effective date and ending with the
day before the policy anniversary, and each 12-month period thereafter.

Portfolio
The investment  portfolio  underlying each variable sub-account in which we will
invest any amounts the owner allocates to that variable sub-account.

Status (Qualified and Non-Qualified)
The status shown on the Information  Page. This policy has a qualified status if
it is issued in connection with a retirement plan or program.

Valuation Day
Any day the New York Stock  Exchange is open. To determine the value of an asset
on a day that is not a valuation  day, we will use the value of that asset as of
the end of the next valuation day.

Valuation Period
The time interval between the closing  (generally 4:00 p.m. Eastern Time) of the
New York Stock Exchange on consecutive valuation days.

Variable Account
The variable account (separate account VA-6NY) is a separate account established
and maintained by us for the investment of a portion of our assets.

Variable Accumulated Value
The total  dollar  value of all  variable  accumulation  units under this policy
prior to the annuity date.

Variable Accumulation Unit
A unit of measure used to determine  the variable  accumulated  value before the
annuity  date.  The  value of a  variable  accumulation  unit  varies  with each
variable sub-account.

Variable Sub-accounts
One or more  divisions of the variable  account each of which invests  solely in
shares of one of the portfolios. The variable sub-accounts selected by the owner
are shown on the Information Page.






                              3-504 11-197 Page 20





---------------------------------------------------------
Owner, Annuitant, Beneficiary






Owner (Joint Owners)
The person(s)  named on the  Information  Page who,  while living,  controls all
rights and  benefits  under this  policy.  If the owner is a trust that allows a
person(s)  other than the trustee to exercise  the  ownership  rights under this
policy,  such  person(s) must be named  annuitant(s)  and will be treated as the
owner.  If joint  owners are named,  the joint  owners  share  ownership in this
policy equally with the right of survivorship.  The right of survivorship  means
that if a joint owner dies,  his or her  interest in the policy will pass to the
surviving joint owner subject to the death benefit provisions.

The owner(s) is entitled to designate the annuitant, beneficiary or other payee,
settlement  option,  and annuity  date.  The owner must notify us at our service
center to make changes to these  designations in a form and manner acceptable to
us.

Annuitant (Joint Annuitant)
The  person(s)  named  on the  Information  Page  whose  age  and sex is used to
determine  the amount of  settlement  option  payments on the annuity date. If a
joint annuitant is named,  that joint annuitant must be the annuitant's  spouse.
The joint annuitant will become the annuitant if the annuitant dies. If there is
no joint annuitant and the annuitant  dies, an individual  owner will become the
new annuitant until the owner names another annuitant.

If the owner is an individual,  the  annuitant(s) may be changed by the owner at
any time  before the annuity  date.  Any such change will be subject to the then
current underwriting requirements.  We reserve the right to reject any change of
the annuitant(s) which has been made without our prior written consent.

If the owner is not an individual, the annuitant(s) may not be changed.

Beneficiary
The  person(s)  named on the  Information  Page who is designated to receive the
amounts payable under this policy if:

      The owner dies before the annuity date and there is no joint owner; or

      The owner dies after the annuity date and settlement  option payments have
     begun under a selected  settlement  option that  guarantees  payments for a
     certain period of time.

The interest of any beneficiary who dies before the owner will terminate at time
of death of such beneficiary.

A  beneficiary  may be named or  changed  at any  time.  Any  change  made to an
irrevocable   beneficiary   must  also  include  the  written   consent  of  the
beneficiary, except as otherwise required by law.

If more than one beneficiary is named, each named beneficiary will share equally
in any benefits or rights granted by this policy unless the owner gives us other
instructions at the time the beneficiaries are named.








Establishing this Policy







          This policy was established on the policy  effective date shown on the
Information Page.

Any time before the annuity date the owner may make additional  premiums to this
policy.

The owner may  allocate  premiums  to the  fixed  account  or one or more of the
variable  sub-accounts we offer at the time we receive a premium. We reserve the
right to limit the total  number of  investment  options that may be chosen over
the lifetime of the policy, but never to fewer than 18.

All premiums are subject to the conditions listed below.







Premium Provisions
Payment and Acceptance of Premiums
Premiums are payments the owner makes to us for the benefits  under this policy.
All  premiums  must be made to either an agent  designated  by us or our service
center.

The initial premium,  as shown on the Information  Page, will be credited to the
variable  sub-accounts  and/or  the  fixed  account  according  to  the  owner's
instructions  within two business days of the date our service  center  receives
both the  initial  premium  and  sufficient  information,  in a form and  manner
acceptable to us, to issue this policy.

Additional  premiums will be credited on the date we receive them at our service
center and are subject to the conditions listed below. Premiums must:

      Meet the additional payment minimum shown on the Information Page.

      Not exceed any federal or state limitations during any taxable year; and

      Not exceed the maximum total premium  amount,  as shown on the Information
Page, without our prior approval.

We may  return  to the  owner  any  premiums  that do not  meet  the  conditions
described in this section.

Allocating Each Premium
Allocations the owner makes to the variable  sub-accounts  and the fixed account
are subject to the following conditions. The owner must allocate:

      In whole number percentages;

      A minimum of $500 to any variable sub-account or the fixed account.

      Not  less  than  the  variable   sub-account  minimum,  as  shown  on  the
     Information Page, to variable sub-accounts with a zero balance.
      Not less than the fixed account minimum, as shown on the Information Page.

The owner may change  allocation  elections for future  premiums any time before
the annuity date by notifying us at our service center.

Continuation of this Policy
If the owner stops making additional  premiums to this policy, the provisions of
the policy will  continue in force until all values have been  distributed.  The
owner may exercise  all  ownership  rights  under this policy  during that time,
including making  withdrawals and applying the annuity amount, as defined in the
settlement  option  provisions  section,  to provide payments under a settlement
option described in this policy.





-------------------------------------------------------------------------
The Variable Account





The variable  account is a separate  account  established  and maintained by the
Company for the  investment of a portion of our assets  pursuant to Section 4240
of the New York  Insurance Law and New York Insurance  Department  Regulation 47
(11NYCRR50). We will use the assets of the variable account to buy shares in the
various portfolios. Premiums allocated or transfers made to one or more variable
sub-accounts will become a part of the variable account.

The assets of the  variable  account are owned by us. The assets in the variable
account are not chargeable with liabilities arising out of any other business we
conduct,  except  to  the  extent  that  they  exceed  the  reserves  and  other
liabilities  of  the  variable  account.  The  assets  of the  variable  account
maintained  under this policy will be kept  separate from the assets held in our
general account.

Variable Sub-accounts
The  variable  account is  composed of a number of  variable  sub-accounts.  The
investment  performance of each variable  sub-account is linked  directly to the
investment performance of the underlying portfolio.

We cannot and do not guarantee that any of the variable sub-accounts will always
be available for  investment.  We reserve the right,  subject to compliance with
applicable  federal or state  law,  rules or  regulations,  to add,  delete,  or
substitute the variable  sub-accounts or the portfolio shares held by a variable
sub-account,  if we believe that further  investment  in the shares is no longer
appropriate or shares in a portfolio  become no longer available for investment.
We will send written notification to the owner of such changes.

Variable Accumulation Unit
A  variable  accumulation  unit is a unit of  measure  we use to  determine  the
variable  accumulated  value each day  before the  annuity  date.  The  variable
accumulated value is the total dollar value of all variable  accumulation  units
for each variable sub-account.  The value of a variable accumulation unit varies
with each  variable  sub-account.  Premiums  allocated  or  transfers  made to a
variable  sub-account are credited to the variable accumulated value in the form
of variable  accumulation  units.  Transfers,  withdrawals,  or fees made from a
variable  sub-account will result in the  cancellation of variable  accumulation
units.

Each  time  a  premium  is  allocated  or a  transfer  is  made  to  a  variable
sub-account,  the  number  of  variable  accumulation  units  credited  will  be
determined.  We will  determine  the number of  variable  accumulation  units by
dividing the total amount allocated by the value of that variable  sub-account's
variable accumulation unit for the valuation day on which either we received the
premium allocation or transfer request at our service center.

The value of a  variable  accumulation  unit for each  variable  sub-account  is
determined  by  multiplying  the  value  of that  unit  at the end of the  prior
valuation  period by the net investment  factor of the variable  sub-account for
the valuation period. The value of a variable  accumulation unit may increase or
decrease.

Net Investment Factor
The  net  investment   factor  is  the  formula  that  measures  the  investment
performance of a variable sub-account from one valuation period to the next. For
any variable  sub-account,  the net investment  factor for a valuation period is
determined by dividing (A) by (B), then subtracting (C) where;

 (A) is
The net asset value per share held in the variable sub-account, as of the end of
the  valuation  period;  plus  (minus) The  per-share  amount of any dividend or
capital gain  distributions  if the  "ex-dividend"  date occurs in the valuation
period; plus (minus)

A  per-share  charge  or credit as of the end of the  valuation  period  for tax
reserves for realized and unrealized capital gains, if any.

 (B) is
The net asset value per share held in the variable  sub-account as of the end of
the prior valuation period.

 (C) is
The daily mortality and expense risk charge multiplied by the number of calendar
days in the current valuation period; plus

The daily  administrative  expense  charge  multiplied by the number of calendar
days in the current valuation period.






------------------------------------------------------------------------
The Fixed Account





Crediting of Interest
We will establish  effective annual rates of interest for any amounts  allocated
or transferred  to this fixed account from time to time. Any premium  allocation
or  transfer  to the  fixed  account  will  be  credited  interest  at the  rate
applicable  for its class.  We guarantee that the rate of interest in effect for
any amounts  allocated or transferred  will remain in effect for at least twelve
months from the date such  allocation or transfer is made. At any time after the
end of the twelve month period for a  particular  allocation,  we may change the
annual rate of interest  without prior notice.  We guarantee that any subsequent
change in the annual  rate of  interest  will  remain in effect for a minimum of
twelve months from the effective date of change.

Interest  will be credited on a daily basis at a daily rate which is  equivalent
to the effective annual interest rate for that allocation.  The effective annual
interest rate applicable to an allocation will never be less than 3% annually.

Transfer Limitations
Transfers from and to the fixed account are subject to the following conditions:

      The owner may make four  transfers  from the fixed account to the variable
     account each policy year. The total amount  transferred  may not exceed the
     maximum  amount  allowed for any policy year. We reserve the right to waive
     this limitation.

      The  maximum  amount  that  may  be  transferred  each  policy  year  is a
     percentage  of the  value  of the  fixed  account  as of  the  last  policy
     anniversary  less any prior transfers made that policy year. The percentage
     rate,  which will be declared by the Company from time to time, will not be
     less than 25 percent.  The percentage rate on the policy effective date for
     the maximum transfer amount is shown on the Information Page.

      Each  time an  amount  is  transferred  from the  fixed  account  into the
     variable account,  the owner may not transfer any amounts back to the fixed
     account for six months following the date of the original transfer.






----------------------------------------------------------------------------
Transfer Provisions



-------------------------------------------------------------------------
The owner may transfer  all or a portion of the policy  value  between and among
the variable  sub-accounts and the fixed account,  subject to the limitations as
described in this section and the fixed account section of this policy.

All  transfer  requests  must  specify (a) the amount of the  transfer;  (b) the
variable sub-account or the fixed account from which the transfer is to be made;
and (c) the  variable  sub-account  or fixed  account  which is to  receive  the
transfer.  All  transfers  will be made as of the  valuation  day we receive the
request at our service center.

Before the annuity date,  transfers in excess of the maximum per policy year, as
shown on the  Information  Page, will be subject to a transfer fee, as described
in the charges,  fees and services section of this policy.  We reserve the right
to waive the transfer fee.

After the annuity  date,  transfers  are only  permitted  if a variable  payment
option is elected. Such transfers among the variable sub-accounts are limited to
four per policy  year.  We reserve  the right to change the number of  transfers
available after the annuity date but never to fewer than four.

Before and after the  annuity  date the minimum  amount that may be  transferred
from a variable  sub-account or the fixed account is the lesser of $1,000 or the
entire  value of the  variable  sub-account  or fixed  account  from  which  the
transfer is being made.  The minimum  amount that may be initially  allocated or
transferred  into a variable  sub-account  or the fixed  account is shown on the
Information Page.







Withdrawal Provisions







Before the annuity date and subject to the conditions below the owner may:

      Withdraw a portion of the policy value for cash subject to any  applicable
     contingent deferred sales load and premium tax charges; or

Automatically  withdraw a portion of the policy value by electing the systematic
     withdrawal option; or

      Withdraw the cash surrender value and terminate this policy.

Any amount withdrawn that exceeds the allowed amount, as described below, may be
subject to a contingent  deferred sales load. All withdrawals  will be made from
premiums on a first in, first out basis and then from earnings.








Partial Withdrawal Provisions
-----------------------------------------------------------------------

Partial  withdrawals  taken from the variable  sub-accounts or the fixed account
are subject to a minimum  withdrawal amount equal to the lesser of $1,000 or the
entire  value of the  variable  sub-account  or fixed  account  from  which  the
withdrawal is being made. We reserve the right not to process any  withdrawal if
the  resulting  policy value is below the minimum,  as shown on the  Information
Page.

Systematic Withdrawal Option
The owner may elect to  automatically  receive a series of  partial  withdrawals
under the systematic withdrawal option.

Systematic withdrawals may be subject to a fee as described in the charges, fees
and services section of this policy.

The owner may terminate  systematic  withdrawals  at any time by notifying us at
our service center. Once the option has been termin-ated,  it may not be elected
again for a twelve  month  period.  Systematic  withdrawals  will  automatically
terminate if the policy is annuitized, surrendered or otherwise distributed as a
result of the owner's death.

Surrender of this Policy
The owner may  surrender  this policy to us for its cash  surrender  value on or
before the annuity date.

Payment of the cash surrender  value to the owner will be in full  settlement of
our liability under the policy.

Withdrawal of Funds Without Charges
At the end of the free look period or 30 days after the policy  effective  date,
whichever is later, the owner may make withdrawals up to the allowed amount each
policy year before the annuity  date  without  incurring a  contingent  deferred
sales load.

The allowed  amount is equal to 15% of premi-ums less than seven years old as of
the last pol-icy anniversary, less any previous withdrawals taken in that policy
year.  For the first policy year, the allowed amount is equal to 15% of premiums
as of the time of the first withdrawal, less any previous withdrawals taken that
policy year.  Previous  withdrawals  include  partial  with-drawals  and certain
scheduled with-drawals,  such as systematic withdrawals. Any amounts that exceed
the allowed amount will be subject to a contingent deferred sales load. Premiums
that are older than seven years old will not be subject to a contingent deferred
sales load.

Contingent Deferred Sales Load
A contingent  deferred sales load may apply when a withdrawal from, or surrender
of, this policy  occurs.  For purposes of determining  the  contingent  deferred
sales  load,  all  withdrawals  are made  first  from  premiums  on a  first-in,
first-out basis and then from earnings.

We calculate the  contingent  deferred  sales load  separately  for each premium
received  by us.  The  contingent  deferred  sales load is a  percentage  of the
withdrawn premium.

The  applicable  contingent  deferred  sales load  percentages,  as shown on the
Information  Page, are based on the number of complete years from the receipt of
the premium(s) to the date of withdrawal.

Waiver of Contingent  Deferred Sales Load We will waive the contingent  deferred
sales load:

     On the allowed amount.

      Upon  annuitization  on or after  the  first  policy  anniversary,  if the
     selected  settlement  option involves life  contingencies or if the payment
     period is five or more years.

      Upon the owner's death before the annuity date.










Settlement Option Provisions







      On the annuity date, we will apply the annuity  amount,  as defined below,
     to provide payments under the settlement  option selected by the owner. The
     first settlement option payment will

be made 30 days after the annuity date.

Settlement  option  payments may be made in monthly,  quarterly,  semi-annual or
annual installments as selected by the owner.






The Owner may change the  annuity  date and  settlement  and  payment  option by
notifying our service center at least 30 days before the annuity date.

The  annuity  date must be on or before  the  first  day of the  calendar  month
immediately  preceding the month of the  annuitant's or joint  annuitant's  90th
birthday, whichever is earlier.

The annuity  date may not be earlier  than the first day of the  calendar  month
coinciding with the first policy anniversary.

After the annuity date, we will not allow the owner to make:

      Any changes to either the settlement or payment option;

      Additional premiums; or

      Any further withdrawals.

Annuity Amount
The annuity amount we will apply to provide
payments is equal to the policy value, less any applicable  contingent  deferred
sales load and premium tax charges.  If the selected  settlement option involves
life  contingencies  or if the payment period is five or more years, we will not
apply a contingent deferred sales load.

Minimum Requirements
We reserve  the right to offer a less  frequent  mode of  payment  than the mode
selected  by the owner or make a cash  payment  to the  owner  equal to the cash
surrender value if:

      The annuity amount is less than $2,000; or

      The amount of the first fixed payment is less than $20; or

          The  amount of the  first  variable  payment  is less than $20 or if a
     variable payment from a variable sub-account is less than $50.

If we make such a cash payment it will be in full  settlement  of our  liability
under this policy.

Settlement Options
The  settlement  options  the owner may choose  from are listed  below.  For any
settlement  option  involving  life  contingencies,   it  is  possible  that  no
settlement  option  payments will be made from this policy if, after the annuity
date but before the first  settlement  option payment is made, the annuitant and
joint annuitant or contingent annuitant, as applicable, dies.

Life Annuity
Provides payments to the owner for as long as the annuitant lives. Payments will
end with the  payment  due just  before  the  annuitant's  death and there is no
provision for a death benefit payable to a beneficiary.

Life Annuity with Period Certain
Provides  payments to the owner for the longer of: a) the  annuitant's  life; or
(b) the period certain. The period certain may be 120, 180 or 240 months. If the
annuitant dies during the period  certain,  payments will continue until the end
of the period  certain.  Life and Contingent  Annuity  Provides  payments to the
owner for as long as the annuitant  lives. If the annuitant dies,  payments will
continue  for as long as the  contingent  annuitant  lives in an amount equal to
50%, 66 2/3% or 100% of the original  payment,  as selected.  Payments will then
end with the payment due just before the contingent annuitant's death.

Joint and Survivor Annuity
Provides  payments to the owner for as long as the survivor of the  annuitant or
joint annuitant  lives.  After the first annuitant dies,  payments will continue
for as long as the survivor  lives in an amount equal to 50%, 66 2/3% or 100% of
the original payment,  as selected.  Payments will then end with the payment due
just before the death of the survivor.

Other Forms of Payment
Payments can be provided  under other  settlement  options not described in this
section. Contact our service center for more information.







Settlement Option Payments







      Settlement  option  payments may be fixed or variable or a combination  of
both.

      The fixed payment  option  provides for  settlement  option  payments that
     remain  constant and are not affected by the investment  performance of the
     variable sub-accounts.
      The variable  payment option provides for settlement  option payments that
     vary based on the  investment  performance  of the variable  sub-account(s)
     selected by the owner. These payments may increase,  decrease or remain the
     same.








Fixed Payment Option
Amount of Fixed Payment
The owner may elect to have all or a portion of the  annuity  amount  applied to
provide fixed payments. On the annuity date, we will determine the dollar amount
of the fixed payments by applying the portion of the annuity amount allocated to
provide fixed payments as a single payment based on the settlement option chosen
and the  age  and sex of the  annuitant(s),  using  the  appropriate  guaranteed
annuity  rate  tables.  The monthly  annuity  rate tables are  contained  in the
appendix.

Variable Payment Option
Amount of First Variable Payment
The owner may elect to have all or a portion of the  annuity  amount  applied to
provide settlement option payments that vary based on the investment performance
of selected variable sub-accounts. The amount of the first variable payment will
be equal to the benefit  that could be  purchased by applying the portion of the
annuity  amount  allocated to provide the variable  payments as a single payment
based on the settlement option chosen and age and sex of the annuitant(s)  using
the appropriate  guaranteed annuity rate tables. The monthly annuity rate tables
are contained in the appendix.

Amount of Subsequent Variable Payments
We determine the dollar amount of the second and subsequent variable payments by
first  identifying  the number and value of the variable  annuity units for each
variable  sub-account.  Variable  annuity  units are the unit of measure used to
determine  such  payments.  For each  payment we multiply the number of variable
annuity  units by the value of the  variable  annuity  units  for each  variable
sub-account.

The number of variable  annuity units for each variable  sub-account will remain
the same for the second and subsequent  variable  payments  (unless  amounts are
transferred  to or from a variable  sub-account)  and the value of the  variable
annuity  units in each  variable  sub-account  will  vary.  As a  result  of the
variation in the value of variable  annuity units for each variable  sub-account
between payments, the dollar amount of each variable payment after the first may
increase, decrease or remain the same.

Number of Variable Annuity Units
The number of variable annuity units for each variable sub-account is determined
by dividing  the first  variable  payment by the value of the  variable  annuity
units of each variable sub-account on the annuity date.

Value of Variable Annuity Units
The variable  annuity unit values  depend on the net  investment  factor and the
assumed  interest rate.  The value of a variable  annuity unit for each variable
sub-account for any valuation day is equal to (A) times (B) times (C), where:

 (A) is the variable annuity unit value on the immediately  preceding  valuation
day;

 (B) is the  net  investment  factor  (determined  in  accordance  with  the net
investment factor provision on Page 7), for the valuation period just ended; and

 (C) is the investment result adjustment factor  (.99989255)n,  which recognizes
an assumed interest rate of 4% per year. The Company reserves the right to offer
other assumed  interest  rates with  appropriate  investment  result  adjustment
factors.  The "n" in the investment  result  adjustment  factor is the number of
days since the preceding valuation day.

Once settlement  option payments begin, we guarantee the amount of each variable
payment will not be affected by variations in expenses or mortality experience.







Death Benefit Provisions







We must distribute death benefits or continue making  settlement option payments
under this policy according to the requirements of Code Section 72(s) as long as
this policy is in force or benefits remain to be paid.

We will not accept any additional premiums after the death of the owner or joint
owner.

If any  ownership  change is made,  the death  benefit  under this policy may be
reduced in accordance with our then current  underwriting  rules. Such reduction
will never  decrease the death benefit  below the policy value.  We must receive
proof of death before any benefits are  distributed  from this policy.  Proof of
death acceptable to us includes:

      A certified copy of a death policy

      A certified copy of a court decree stating the cause of death

      A written statement by a medical doctor who attended the deceased

      Any other proof or documents we may require







Amount of Death Benefit
If the owner or joint  owner  dies  before  the  annuity  date and  neither  the
deceased  owner nor the joint owner had attained  the age of 85, the  guaranteed
minimum death benefit is equal to the greatest of (A), (B) or (C) where:

 (A) is the policy value.

 (B) is 100% of premiums,  less the sum of all  withdrawals  and any  applicable
premium tax charges.

 (C) is the highest policy value on any policy anniversary, increased by the sum
of all  premiums  received  since that policy  anniversary,  less the sum of all
withdrawals and any applicable premium tax charges since that anniversary.

The  guaranteed  minimum  death  benefit will be determined as of the end of the
valuation period during which our service center receives both proof of death of
the owner or joint owner and the written  notice of the form of benefit  elected
by the person to whom the death benefit is payable.

Amount of Death Benefit after the Owner or Joint Owner attains age 85
If the owner or joint owner dies before the annuity date and either the deceased
owner or surviving  owner had attained the age of 85, the death benefit is equal
to the policy value. For purposes of calculating such death benefit,  the policy
value is determined as of the date the death benefit is paid.

Death of Owner or Joint Owner before the Annuity Date
If the owner or joint owner dies before the annuity  date, we will pay the death
benefit  as  specified  in  this  section.  The  entire  death  benefit  must be
distributed  within five years after the owner's  death.  If the owner is not an
individual,  an  annuitant's  death will be treated as the death of the owner as
provided in Code Section 72(s)(6). For example, this policy will remain in force
with the annuitant's surviving spouse as the new annuitant if:

      This policy is owned by a trust; and

      The beneficiary  shown on the  Information  Page is either the annuitant's
     surviving  spouse,  or a trust holding the policy solely for the benefit of
     such spouse.

The manner in which we will pay the death  benefit  depends on the status of the
person(s)  involved in this  policy.  The death  benefit  will be payable to the
first person from the applicable list below:

If the owner is the annuitant:

      The joint owner, if any; then

      The beneficiary, if any.

If the owner is not the annuitant:

      The joint owner, if any; then

      The beneficiary, if any; then

      The annuitant; then

      The joint annuitant; if any.

If the death benefit is payable to the owner's surviving spouse,  (or to a trust
for the sole benefit of such  surviving  spouse),  we will  continue this policy
with the owner's  spouse as the new annuitant  (if the owner was the  annuitant)
and the new owner (if applicable),  unless such spouse selects another option as
provided below.

If the death  benefit is payable to  someone  other that the  owner's  surviving
spouse,  we will pay the  death  benefit  in a lump sum  payment  to, or for the
benefit of, such person within five years after the owner's  death,  unless such
person(s) selects another option as provided below.

In lieu of the automatic form of death benefit specified above, the person(s) to
whom the death benefit is payable may elect to receive it:

      In a lump sum; or

      As settlement option payments,  provided the person making the election is
     an  individual.  Such payments must begin within one year after the owner's
     death  and must be in equal  amounts  over a period  of time not  extending
     beyond the individual's life or life expectancy.

Election  of either  option  must be made no later than 60 days prior to the one
year  anniversary  of the owner's  death.  Otherwise,  the death benefit will be
settled under the appropriate automatic form of benefit specified above.

If the person to whom the death  benefit is payable dies before the entire death
benefit is paid,  we will pay the  remaining  death benefit in a lump sum to the
payee named by such person or, if no payee was named, to such person's estate.

If the death benefit is payable to a non-individual (subject to the special rule
for a trust for the sole benefit of a surviving  spouse),  we will pay the death
benefit in a lump sum within one year after the owner's death.

If the Annuitant Dies Before the Annuity Date
If an owner and an annuitant are not the same  individual  and the annuitant (or
the last of joint  annuitants)  dies  before the  annuity  date,  the owner will
become the annuitant until a new annuitant is selected.

Death after the Annuity Date
If an owner or an annuitant  dies after the annuity  date,  any amounts  payable
will continue to be  distributed at least as rapidly as under the settlement and
payment option then in effect on the date of death.

Upon the owner's death after the annuity date,  any remaining  ownership  rights
granted  under this  policy  will pass to the  person to whom the death  benefit
would have been paid if the owner had died before the annuity date, as specified
above.

Survival Provision
The interest of any person to whom the death  benefit is payable who dies at the
time of, or within 30 days after,  the death of the owner will also terminate if
no benefits  have been paid to such  beneficiary,  unless the owner had given us
written notice of some other arrangement .




----------------------------------------------------------------------------
Charges, Fees and Services



Premium Tax Charge
Some jurisdictions impose on us a premium tax on annuities.  If a premium tax is
imposed,  we reserve the right to deduct  this  amount  from  premiums or policy
value, as appropriate.  For purposes of this policy, premium tax charges include
retaliatory taxes or other similar taxes.

Mortality and Expense Risk Charge
The amount of the  annual  mortality  and  expense  risk  charge is shown on the
Information  Page.  The  mortality and expense risk charge will be deducted on a
daily  basis  from  the  assets  in  each  variable  sub-account  as part of the
calculation of the variable accumulation unit.

Administrative Expense Charge
The amount of the annual  administrative  expense charge on the policy effective
date is shown on the Information Page. The administrative expense charge will be
deducted on a daily basis from the assets in each variable  sub-account  as part
of the calculation of the variable accumulation unit.

We may change this charge upon 30 days advance written notice to the owner.  Any
increase  in the  administrative  expense  charge  will apply  prospectively  to
administrative  expense charges deducted after the effective date of change. The
administrative expense charge will not exceed an annual charge of 0.35%.

Transfer Fee
We reserve the right to impose a transfer fee for each transfer in excess of the
number  shown on the  Information  Page made during a single  policy  year.  The
amount  of the  transfer  fee on the  policy  effective  date  is  shown  on the
Information Page. This fee will not increase.

The transfer fee will be deducted  from the amount of the transfer  prior to its
reallocation. We reserve the right to waive the transfer fee.

Systematic Withdrawal Fee
The amount of the  systematic  withdrawal  fee on the policy  effective  date is
shown on the Information Page.

Account Fee
Before the annuity date, an annual  account fee will be deducted from the policy
value on the last  business day of each policy year and if  different,  the date
the policy is  surrendered.  The amount of the annual  account fee on the policy
effective  date is  shown  on the  Information  Page.  The  account  fee will be
deducted on a pro rata basis from the policy value.

Statements of Account
At least once  during each policy  year,  we will send the owner a statement  of
account  reflecting  the policy value of the policy.  Statements of account will
cease to be provided to the owner after the annuity date.





------------------------------------------------------------------------------
General Provisions




Entire Contract
This policy and any attached endorsements and riders are the entire contract.

Misstatement of Age and Sex
If the age or sex of the  annuitant(s)  and/or of any other  measuring  life has
been misstated, the settlement option payments payable under this policy will be
whatever  the  annuity  amount  would  provide for the correct age or sex of the
annuitant(s)  and/or  of any  other  measuring  life on the  annuity  date.  Any
underpayment  or  overpayment  by us,  as a result  of such  misstatement,  with
interest at 6% per annum,  will credited to, or charged against,  the current or
next succeeding payments.

Proof of Existence and Age
Before  making  any  payment  under this  policy,  we may  require  proof of the
existence and age of the owner,  the annuitant  and/or any other measuring life.
We may also  require  any other  information  as we may need in order to provide
benefits under the policy.

Changes
No provision of this policy may be changed or waived  unless done in writing and
signed  by two of our  authorized  officers.  We will not make any  change  that
reduces the amounts  payable  under this policy unless the change is required by
law. We will provide the owner a copy of any changes we make to this policy.

Income Tax Qualification
This  policy is  intended  to  qualify  as an  annuity  for  federal  income tax
purposes. All provisions in this policy will be interpreted to maintain such tax
qualification. We may make changes in order to maintain this qualification or to
conform  this policy to any  applicable  changes  made in the tax  qualification
requirements.  We will  provide  the owner with a copy of any changes we make to
this policy.


Incontestability
This policy is incontestable from the policy effective date.

Assignment of this Policy
To make  ownership  changes or assign rights to another  person,  the owner must
notify us at our  service  center.  An  assignment  or  ownership  change is not
binding  on us  until  we  receive  the  necessary  documentation.  We  are  not
responsible for the validity or effect - tax or otherwise - of any assignment or
ownership  change.  If an ownership change is made, the death benefit under this
policy may be reduced in accordance  with our then current  underwriting  rules.
Such reduction will never decrease the death benefit below the policy value.

Payments by/to the Company
All  premiums  paid to us or amounts paid by us from this policy will be made in
the legal currency of the United States of America.

Delay of Payment or Transfer
Except as provided  below, we will pay amounts due from this policy within seven
days of the date our service  center  receives  both the request for such amount
and all the necessary requirements in a form and manner acceptable to us.

We reserve  the right to delay the  payment  of any  benefits  payable,  amounts
withdrawn  or  transfers  requested  from the  variable  account due to: (a) the
closure of the New York Stock  Exchange for reasons  other than usual  weekends,
holidays or if trading on such Exchange is  restricted;  (b) the existence of an
emergency as defined by the  Securities  and Exchange  Commission  of the United
States  Government or restrictions  of trading by the Commission;  or (c) delays
permitted  by the  Securities  and Exchange  Commission  for the  protection  of
security holders.

We further  reserve the right to delay payment of any withdrawal  from the fixed
account for up to six months after we receive the request for withdrawal.  If we
delay  payment for more than 10 days,  we will pay  interest as provided in this
policy on the withdrawal amount up to the date of payment.

Minimum Benefits
Any settlement option payments,  cash surrender value or death benefits that may
be  available  under  this  policy  will not be less than the  minimum  benefits
required by any statute of the jurisdiction in which this policy was issued.

Protection of Benefits/Proceeds
To the extent  permitted  by law, no payment of  benefits  or  interest  will be
subject to the claim(s) of any creditor of any owner,  annuitant or  beneficiary
or to any claim or process of law against any owner, annuitant or beneficiary.

Non-Participating
This policy is classified as a non-participating policy. It does not participate
in our profits or surplus, and therefore no dividends are payable.









APPENDIX
                               ANNUITY RATE TABLES







Applicability of Rates - The guaranteed  annuity rates contained in Tables I and
II will be used to provide a minimum  guaranteed monthly annuity under the fixed
annuity payment  option.  The annuity rates contained in Tables III and IV, will
be used to  determine  the first  monthly  annuity  payment  under the  variable
annuity payment option.

The  rates  contained  in this  policy  are for each  $1,000  applied  under the
applicable  settlement  option and do not  include  any  applicable  premium tax
charges.  Any  applicable  premium tax charges will be withdrawn as described in
the premium tax charge provision of the policy.

Tables I and II under the fixed  annuity  payment  option  and Tables III and IV
under the variable annuity payment option,  as applicable,  will be used for all
settlement  options,  subject to any limitations imposed under: (a) a retirement
plan or program under which this policy is issued; or (b) applicable  federal or
state law, rules or regulations which restrict the use of such rates.

Rates Not Shown - Any rates not shown in the  Tables  contained  in this  policy
will be provided by us upon request.









                              APPENDIX (continued)

                    TABLES OF GUARANTEED ANNUITY RATES UNDER
                          FIXED ANNUITY PAYMENT OPTION

                              TABLE I - MALE RATES




                                      LIFE                      LIFE ANNUITY WITH PERIOD CERTAIN
                  Age               ANNUITY                   120 Months        180 Months       240 Months
--------------------------------------------------------------------------------------------------------------
                                                                                       
                  40                   3.76                       3.76              3.75              3.73
                  41                   3.80                       3.79              3.78              3.76
                  42                   3.84                       3.83              3.82              3.80
                  43                   3.88                       3.87              3.86              3.83
                  44                   3.93                       3.92              3.90              3.87
                  45                   3.97                       3.96              3.94              3.91
                  46                   4.02                       4.01              3.98              3.95
                  47                   4.07                       4.06              4.03              3.99
                  48                   4.13                       4.11              4.08              4.03
                  49                   4.18                       4.16              4.13              4.08
                  50                   4.24                       4.21              4.18              4.13
                  51                   4.30                       4.27              4.23              4.17
                  52                   4.37                       4.33              4.29              4.22
                  53                   4.43                       4.40              4.34              4.28
                  54                   4.51                       4.46              4.41              4.33
                  55                   4.58                       4.53              4.47              4.38
                  56                   4.66                       4.60              4.54              4.44
                  57                   4.74                       4.68              4.60              4.50
                  58                   4.83                       4.76              4.67              4.56
                  59                   4.92                       4.84              4.75              4.61
                  60                   5.02                       4.93              4.83              4.68
                  61                   5.12                       5.02              4.90              4.74
                  62                   5.23                       5.12              4.99              4.80
                  63                   5.34                       5.22              5.07              4.87
                  64                   5.47                       5.33              5.16              4.93
                  65                   5.60                       5.45              5.25              5.00
                  66                   5.74                       5.57              5.35              5.06
                  67                   5.90                       5.69              5.45              5.12
                  68                   6.06                       5.83              5.55              5.18
                  69                   6.24                       5.97              5.64              5.24
                  70                   6.43                       6.11              5.74              5.30
                  71                   6.63                       6.26              5.84              5.35
                  72                   6.84                       6.42              5.95              5.41
                  73                   7.07                       6.58              6.05              5.45
                  74                   7.32                       6.74              6.14              5.50
                  75                   7.58                       6.91              6.24              5.54
                  76                   7.86                       7.08              6.33              5.57
                  77                   8.16                       7.26              6.42              5.61
                  78                   8.48                       7.43              6.50              5.63
                  79                   8.83                       7.61              6.58              5.66
                  80                   9.20                       7.79              6.65              5.68
--------------------------------------------------------------------------------------------------------------


Basis of  Computation - The actuarial  basis for the annuity rates  contained in
this  Table  I,  is  the  1983a  Annuity  Mortality  Table  for  males,  without
projection, set back 5 years, with an interest rate of 3.5% per annum.







                              APPENDIX (continued)

                    TABLES OF GUARANTEED ANNUITY RATES UNDER
                          FIXED ANNUITY PAYMENT OPTION

                             TABLE II - FEMALE RATES

                                      LIFE                      LIFE ANNUITY WITH PERIOD CERTAIN
                  Age               ANNUITY                   120 Months        180 Months       240 Months
--------------------------------------------------------------------------------------------------------------
                                                                                       
                  40                   3.58                       3.58              3.57              3.56
                  41                   3.61                       3.60              3.60              3.59
                  42                   3.64                       3.64              3.63              3.62
                  43                   3.67                       3.67              3.66              3.65
                  44                   3.71                       3.70              3.69              3.68
                  45                   3.74                       3.74              3.73              3.71
                  46                   3.78                       3.77              3.76              3.75
                  47                   3.82                       3.81              3.80              3.78
                  48                   3.86                       3.85              3.84              3.82
                  49                   3.90                       3.89              3.88              3.86
                  50                   3.95                       3.94              3.92              3.90
                  51                   4.00                       3.98              3.97              3.94
                  52                   4.05                       4.03              4.01              3.98
                  53                   4.10                       4.08              4.06              4.03
                  54                   4.15                       4.14              4.11              4.08
                  55                   4.21                       4.19              4.17              4.13
                  56                   4.28                       4.25              4.22              4.18
                  57                   4.34                       4.32              4.28              4.23
                  58                   4.41                       4.38              4.34              4.28
                  59                   4.48                       4.45              4.41              4.34
                  60                   4.56                       4.52              4.47              4.40
                  61                   4.64                       4.60              4.55              4.46
                  62                   4.73                       4.68              4.62              4.52
                  63                   4.82                       4.77              4.70              4.59
                  64                   4.92                       4.86              4.78              4.66
                  65                   5.03                       4.96              4.86              4.72
                  66                   5.14                       5.06              4.95              4.79
                  67                   5.26                       5.17              5.04              4.86
                  68                   5.39                       5.28              5.14              4.93
                  69                   5.52                       5.40              5.24              5.01
                  70                   5.67                       5.52              5.34              5.07
                  71                   5.82                       5.66              5.44              5.14
                  72                   5.99                       5.80              5.55              5.21
                  73                   6.17                       5.95              5.66              5.27
                  74                   6.36                       6.10              5.77              5.34
                  75                   6.57                       6.27              5.88              5.40
                  76                   6.80                       6.44              6.00              5.45
                  77                   7.04                       6.61              6.11              5.50
                  78                   7.31                       6.80              6.21              5.54
                  79                   7.60                       6.99              6.32              5.58
                  80                   7.91                       7.18              6.42              5.62
--------------------------------------------------------------------------------------------------------------


Basis of  Computation - The actuarial  basis for the annuity rates  contained in
this  Table II, is the  1983a  Annuity  Mortality  Table  for  females,  without
projection, set back 5 years, with an interest rate of 3.5% per annum.








                              APPENDIX (continued)

                          TABLES OF ANNUITY RATES UNDER
                         VARIABLE ANNUITY PAYMENT OPTION

                             TABLE III - MALE RATES


                                      LIFE                      LIFE ANNUITY WITH PERIOD CERTAIN
                  Age               ANNUITY                   120 Months        180 Months       240 Months
--------------------------------------------------------------------------------------------------------------
                                                                                       
                  40                   4.08                       4.07              4.06              4.04
                  41                   4.12                       4.11              4.09              4.07
                  42                   4.16                       4.15              4.13              4.11
                  43                   4.20                       4.18              4.17              4.14
                  44                   4.24                       4.23              4.21              4.18
                  45                   4.29                       4.27              4.25              4.21
                  46                   4.33                       4.32              4.29              4.25
                  47                   4.38                       4.36              4.33              4.29
                  48                   4.44                       4.41              4.38              4.33
                  49                   4.49                       4.46              4.43              4.38
                  50                   4.55                       4.52              4.48              4.42
                  51                   4.61                       4.57              4.53              4.47
                  52                   4.67                       4.63              4.59              4.52
                  53                   4.74                       4.69              4.64              4.57
                  54                   4.81                       4.76              4.70              4.62
                  55                   4.88                       4.83              4.76              4.67
                  56                   4.96                       4.90              4.83              4.73
                  57                   5.04                       4.97              4.89              4.78
                  58                   5.13                       5.05              4.96              4.84
                  59                   5.22                       5.13              5.04              4.90
                  60                   5.31                       5.22              5.11              4.96
                  61                   5.42                       5.31              5.19              5.02
                  62                   5.52                       5.41              5.27              5.08
                  63                   5.64                       5.51              5.36              5.14
                  64                   5.76                       5.62              5.44              5.20
                  65                   5.90                       5.73              5.53              5.27
                  66                   6.04                       5.85              5.62              5.33
                  67                   6.19                       5.98              5.72              5.39
                  68                   6.36                       6.11              5.82              5.45
                  69                   6.53                       6.25              5.91              5.51
                  70                   6.72                       6.39              6.01              5.56
                  71                   6.92                       6.54              6.11              5.61
                  72                   7.14                       6.69              6.21              5.67
                  73                   7.37                       6.85              6.31              5.71
                  74                   7.62                       7.01              6.40              5.75
                  75                   7.88                       7.18              6.49              5.79
                  76                   8.16                       7.35              6.58              5.83
                  77                   8.46                       7.52              6.67              5.86
                  78                   8.79                       7.70              6.75              5.89
                  79                   9.13                       7.87              6.83              5.91
                  80                   9.51                       8.05              6.90              5.93
--------------------------------------------------------------------------------------------------------------

Basis of  Computation - The actuarial  basis for the annuity rates  contained in
this  Table  IV,  is the  1983a  Annuity  Mortality  Table  for  males,  without
projection, set back 5 years, with an assumed interest rate of 4% per annum.






                              APPENDIX (continued)

                          TABLES OF ANNUITY RATES UNDER
                         VARIABLE ANNUITY PAYMENT OPTION

                             TABLE IV - FEMALE RATES


                                      LIFE                      LIFE ANNUITY WITH PERIOD CERTAIN
                  Age               ANNUITY                   120 Months        180 Months       240 Months
--------------------------------------------------------------------------------------------------------------
                  40                   3.90                       3.90              3.89              3.88
                  41                   3.93                       3.92              3.92              3.91
                  42                   3.96                       3.95              3.95              3.94
                  43                   3.99                       3.98              3.97              3.96
                  44                   4.02                       4.01              4.01              3.99
                  45                   4.06                       4.05              4.04              4.02
                  46                   4.09                       4.08              4.07              4.06
                  47                   4.13                       4.12              4.11              4.09
                  48                   4.17                       4.16              4.15              4.13
                  49                   4.21                       4.20              4.19              4.16
                  50                   4.26                       4.24              4.23              4.20
                  51                   4.30                       4.29              4.27              4.24
                  52                   4.35                       4.34              4.32              4.28
                  53                   4.40                       4.39              4.36              4.33
                  54                   4.46                       4.44              4.41              4.37
                  55                   4.52                       4.49              4.46              4.42
                  56                   4.58                       4.55              4.52              4.47
                  57                   4.64                       4.61              4.58              4.52
                  58                   4.71                       4.68              4.64              4.57
                  59                   4.78                       4.75              4.70              4.63
                  60                   4.86                       4.82              4.77              4.69
                  61                   4.94                       4.89              4.84              4.75
                  62                   5.03                       4.98              4.91              4.81
                  63                   5.12                       5.06              4.98              4.87
                  64                   5.22                       5.15              5.06              4.94
                  65                   5.32                       5.24              5.14              5.00
                  66                   5.43                       5.34              5.23              5.07
                  67                   5.55                       5.45              5.32              5.14
                  68                   5.68                       5.56              5.41              5.21
                  69                   5.81                       5.68              5.51              5.27
                  70                   5.96                       5.80              5.61              5.34
                  71                   6.11                       5.93              5.71              5.41
                  72                   6.28                       6.08              5.82              5.48
                  73                   6.46                       6.22              5.93              5.54
                  74                   6.65                       6.37              6.04              5.60
                  75                   6.86                       6.54              6.15              5.66
                  76                   7.09                       6.71              6.25              5.71
                  77                   7.33                       6.88              6.37              5.76
                  78                   7.60                       7.07              6.47              5.80
                  79                   7.89                       7.25              6.57              5.84
                  80                   8.20                       7.45              6.67              5.88
--------------------------------------------------------------------------------------------------------------


Basis of  Computation - The actuarial  basis for the annuity rates  contained in
this  Table  V, is the  1983a  Annuity  Mortality  Table  for  females,  without
projection, set back 5 years, with an assumed interest rate of 4% per annum.



























                  Variable and fixed dollar settlement options
                          Separate Account Investments
                     Non-participating - No annual dividends


[GRAPHIC OMITTED]
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