<PAGE>   1
                                                                    EXHIBIT 4(b)


                     ANCHOR NATIONAL LIFE INSURANCE COMPANY

                    INDIVIDUAL RETIREMENT ANNUITY ENDORSEMENT

This Endorsement amends the Certificate to which it is attached so that it may
qualify as an Individual Retirement Annuity (IRA) under Section 408(b) of the
Internal Revenue Code (Code) and the Regulations under that Section. The
endorsement may be amended from time to time to comply with changes in the
Internal Revenue Code. The Participant has the right to refuse to accept any
such amendment; however, we shall not be held liable for any tax consequences
incurred by the Participant as a result of such refusal. In the case of a
conflict with any provision in the Certificate, the provisions of this
Endorsement will control. The effective date of this Endorsement is the
Certificate Date shown on the Certificate Data Page. The Certificate is amended
as follows:

1.       The Participant, Annuitant and Payee shall be the same individual. The
         Participant, Annuitant and Payee cannot be changed, except as otherwise
         permitted under the IRC and applicable regulations. All distributions
         made while the Participant is alive must be made to the Participant.

2.       The interest of the Participant under this Certificate shall be
         nonforfeitable except as provided by law.

3.       The Certificate may not be sold, assigned, discounted, pledged as
         collateral for a loan or as security for the performance of any
         obligation or for any other purpose, or otherwise transferred (other
         than a transfer incident to a divorce or separation instrument in
         accordance with Section 408(d)(6) of the Code) to any person other than
         to the Company.

4.       This Certificate is established for the exclusive benefit of the
         Participant and his or her Beneficiary(ies).

5.       Except in the case of a rollover contribution (as permitted by Code
         Sections 402(c), 403(a)(4), 403(b)(8), or 408(d)(3)), or a contribution
         made in accordance with the terms of a Simplified Employee Pension
         (SEP) as described in Code Section 408(k), or a nontaxable transfer
         from an individual retirement account under 408(a) of the Code or
         another IRA under Section 408(b) of the Code, contributions shall not
         exceed $2,000 for any taxable year. All contributions must be in cash.

         Any refund of premiums (other than those attributable to excess
         contributions) will be applied, before the close of the calendar year
         following the year of the refund, toward the payment of future premiums
         or the purchase of additional benefits.

         No contribution will be accepted under a SIMPLE IRA plan established by
         any employer pursuant to Code section 408(p). No transfer or rollover
         of funds attributable to contributions made by a particular employer
         under its SIMPLE IRA plan will be accepted


                                       1
<PAGE>   2
         from a SIMPLE IRA, that is, an IRA used in conjunction with a SIMPLE
         IRA plan, prior to the expiration of the 2-year period beginning on the
         date the individual first participated in that employer's SIMPLE IRA
         plan.

6.       Unless otherwise permitted under applicable law, the Participant's
         entire interest in the Certificate shall be distributed no later than
         the "required beginning date," or commence to be distributed beginning
         no later than the "required beginning date," over

         (a)      the life of the Participant, or the lives of the Participant
                  and his or her designated Beneficiary (within the meaning of
                  section 401(a) of the Code), or

         (b)      a period certain not extending beyond the life expectancy of
                  the Participant, or the joint and last survivor expectancy of
                  the Participant and his or her Beneficiary as required by law.

         As used in this Endorsement, the term "required beginning date" means
         April 1 of the calendar year following the calendar year in which the
         Participant attains age 70-1/2, or such later date provided by law.

         Payments must be made in periodic payments at intervals of no longer
         than one year. In addition, payments must be either nonincreasing or
         they may increase only as provided in Q&A F-3 of Section 1.401(a)(9)-1
         of the Proposed Income Tax Regulations.

         If the Participant's interest is to be distributed over a period
         greater than one year, the amount to be distributed by December 31 of
         each year (including the year in which the required beginning date
         occurs) will be made in accordance with the requirements of Code
         Section 401(a)(9), including the incidental death benefit requirements
         of Code Section 401(a)(9)(G), and the regulations thereunder, including
         the minimum distribution incidental benefit requirement of Code Section
         1.401(a)(9)-2 of the Proposed Income Tax Regulations.

         Life expectancy is computed by use of the expected return multiples in
         Tables V and VI of Section 1.72-9 of the Income Tax Regulations. Unless
         otherwise elected by the Participant by the time distributions are
         required to begin, life expectancies shall be recalculated annually.
         Such election shall be irrevocable by the Participant and shall apply
         to all subsequent years. The life expectancy of a non-spouse designated
         Beneficiary may not be recalculated. Instead, life expectancy will be
         calculated using the attained age of such designated Beneficiary during
         the calendar year in which the Participant attains age 70-1/2, and
         payments for subsequent years shall be calculated based on such life
         expectancy reduced by one for each calendar year which has elapsed
         since the calendar year life expectancy was first calculated. Life
         expectancy for distributions under an Annuity Payment Option may not be
         recalculated.


                                       2
<PAGE>   3
7.       Unless otherwise permitted under applicable law, upon the death of the
         Participant:

         (a)      if the Participant dies on or after the required beginning
                  date (or if distributions have begun before the required
                  beginning date as irrevocable annuity payments or Income
                  Payments, whichever term is applicable), the remaining portion
                  of the Participant's interest (if any) shall be distributed at
                  least as rapidly as under the method of distribution in effect
                  as of the Participant's death;

         (b)      if the Participant dies before the required beginning date and
                  an irrevocable annuity distribution has not begun, the entire
                  interest will be distributed by December 31 of the calendar
                  year which contains the fifth anniversary of the Participant's
                  death except that:

                  (1)      if the interest is payable to an individual who is
                           the Participant's designated Beneficiary, the
                           designated Beneficiary may elect to receive the
                           entire interest over the life of the designated
                           Beneficiary or over a period not extending beyond the
                           life expectancy of the designated Beneficiary,
                           commencing on or before December 31 of the calendar
                           year immediately following the calendar year in which
                           the Participant died; or

                  (2)      if the designated Beneficiary is the Participant's
                           surviving spouse, the surviving spouse may elect to
                           receive the entire interest over the life of the
                           surviving spouse or over a period not extending
                           beyond the life expectancy of the surviving spouse,
                           commencing at any date on or before the later of (A)
                           December 31 of the calendar year immediately
                           following the calendar year in which the Participant
                           died or (B) December 31 of the calendar year in which
                           the Participant would have attained age 70-1/2. If
                           the surviving spouse dies before distributions begin,
                           the limitations of this paragraph 7 (without regard
                           to this paragraph (b)) will be applied as if the
                           surviving spouse were the Participant.

                           An irrevocable election of the method of distribution
                           by a designated Beneficiary who is the surviving
                           spouse must be made no later than the earlier of
                           December 31 of the calendar year containing the fifth
                           anniversary of the Participant's death or the date
                           distributions are required to begin pursuant to this
                           paragraph (b).

                  (3)      if the designated Beneficiary is the Participant's
                           surviving spouse, the spouse may irrevocably elect to
                           treat the Certificate as his or her own IRA. This
                           election will be deemed to have been made if such
                           surviving spouse, subject to the requirements of
                           Section 5 of this Endorsement, (i) makes a regular
                           IRA contribution to the Certificate, (ii) makes a
                           rollover to or from


                                       3
<PAGE>   4
                           the Certificate, or (iii) fails to elect that his or
                           her interest will be distributed in accordance with
                           one of the preceding provisions of this paragraph
                           (b).

                  An irrevocable election of the method of distribution by a
                  designated Beneficiary who is not the surviving spouse must be
                  made no later than December 31 of the calendar year
                  immediately following the calendar year in which the
                  Participant died. If no such election is made, the entire
                  interest will be distributed by December 31 of the calendar
                  year containing the fifth anniversary of the Participant's
                  death.

         Life expectancy is computed by use of the expected return multiples in
         Tables V and VI of Section 1.72-9 of the Income Tax Regulations. For
         purposes of distributions beginning after the Participant's death,
         unless otherwise elected by the surviving spouse by the time
         distributions are required to begin, life expectancies shall be
         recalculated annually. Such election shall be irrevocable by the
         surviving spouse and shall apply to all subsequent years. In the case
         of any other designated Beneficiary, life expectancies shall be
         calculated using the attained age of such designated Beneficiary during
         the calendar year in which distributions are required to begin pursuant
         to this section, and payments for any subsequent calendar year shall be
         calculated based on such life expectancy reduced by one for each
         calendar year which has elapsed since the calendar year life expectancy
         was first calculated. Life expectancy for distributions under an
         Annuity Payment Option in the Certificate may not be recalculated.

         Distributions under this section are considered to have begun if
         distributions are made on account of the Participant reaching his or
         her required beginning date or if prior to the required beginning date
         distributions irrevocably commence over a period permitted and in an
         annuity form acceptable under Section 1.401(a)(9)-2 of the Proposed
         Income Tax Regulations.

8.       The Company shall furnish annual calendar year reports concerning the
         status of the Certificate.

The following provisions entitled MISSTATEMENT OF AGE, PROOF OF AGE AND SURVIVAL
and the table of Annuity Payment Options apply to Simplified Employee Pension
(SEP) contracts only:

9.       The MISSTATEMENT OF AGE OR SEX section of the Certificate is deleted
         and replaced by the following section entitled MISSTATEMENT OF AGE.

         MISSTATEMENT OF AGE

         If the Age of any Annuitant has been misstated, future annuity payments
         will be adjusted using the correct Age according to Our rates in effect
         on the date that annuity payments were determined. Any overpayment from
         the Fixed Account Options, plus interest at the


                                       4
<PAGE>   5
         rate of 4% per year, will be deducted from the next payment(s) due. Any
         underpayment from the Fixed Account Options, plus interest at the rate
         of 4% per year, will be paid in full with the next payment due. Any
         overpayment from the Variable Portfolios ("Subaccounts") will be
         deducted from the next payment(s) due. Any underpayment from the
         Variable Portfolios will be paid in full with the next payment due.

10.      The PROOF OF AGE, SEX OR SURVIVAL section of the Certificate is deleted
         and replaced by the following section entitled PROOF OF AGE AND
         SURVIVAL.

         PROOF OF AGE AND SURVIVAL. We may require satisfactory proof of correct
         age at anytime. If any payment under this Certificate depends on the
         Annuitant being alive, we may require satisfactory proof of survival.

11.      Except to the extent Treasury regulations allow us to offer additional
         Annuity Payment Options that are acceptable to us, only Annuity Payment
         Options 1 and 1v, 2 and 2v, 3 and 3v, 4 and 4v, 5 and 5v shall be
         offered unless we consent to the use of an additional option. Under
         Annuity Payment Options 2 and 2v, and 3 and 3v, the designated second
         person must be either the Participant's spouse or an individual who is
         not more than 10 years younger than the Participant. Annuity Payment
         Options 3 and 3v are not available to a Participant and the designated
         second person where the life expectancy of the Participant and such
         person is less than 10 years. Also, Annuity Payment Options 4 and 4v
         are not available to a Participant where the Participant's life
         expectancy is less than 10 years, and Annuity Payment Options 5 and 5v
         are not available to a Participant where the Participant's life
         expectancy is less than 5 years.

         Any additional Annuity Payment Option under the Certificate must meet
         the requirements of section 408(b) of the Code and applicable
         regulations. The provisions of this Endorsement reflecting the
         requirements of Code Sections 401(a)(9) and 408(b) override any
         additional Annuity Payment Option inconsistent with such requirements.

         If a guaranteed or specified period of payments is chosen under an
         Annuity Payment Option, the length of the period must not exceed the
         shorter of (1) the Participant's life expectancy, or if a designated
         second person is named, the joint and last survivor expectancy of the
         Participant and the designated second person, and (2) the applicable
         maximum period under Section 1.401(a)(9)-2 of the Proposed Income Tax
         Regulations.

12.      If you return the Certificate within 10 days after the Certificate
         Date, the Company will refund the amount of your Purchase Payments,
         without adjustment for such items as sales commissions, administrative
         expenses, and fluctuation in market value for the Valuation Period in
         which the Certificate is received. We reserve the right to allocate
         your Purchase Payment(s) to the Cash Management Subaccount until the
         end of the 10 day period. Thereafter, allocations will be made as shown
         on the Certificate Data Page.


                                       5
<PAGE>   6
13.      The provisions of this Endorsement are intended to comply with the
         requirements of the Code and applicable regulations for IRAs under
         Section 408(b) of the Code. The Company reserves the right to amend the
         Certificate and this Endorsement from time to time, without the
         Participant's consent, when such amendment is necessary to assure
         continued qualification of the Certificate as an IRA under Section
         408(b) of the Code (and any successor provision) as in effect from time
         to time. The Participant has the right to refuse to accept any such
         amendment; however, we shall not be held liable for any tax
         consequences incurred by the Participant as a result of such refusal.

14.      The tables in the Annuity Payment Options section are deleted and
         replaced by the following:


                                       6
<PAGE>   7
                       FIXED ANNUITY PAYMENT OPTIONS TABLE

BASIS OF COMPUTATION

The actuarial basis for the Table of Annuity Rates is the 1983a Annuity
Mortality Table with projection and a guaranteed interest rate of 3%. The
mortality table is projected using Projection Scale G factors, assuming
annuitization in the year 2000, and assumes an equal distribution of males and
females. The Fixed Annuity Payment Options Table does not include any applicable
premium tax.

            OPTIONS 1 & 4 - TABLE OF MONTHLY INSTALLMENTS PER $1,000.
   (MONTHLY INSTALLMENTS FOR AGES NOT SHOWN WILL BE FURNISHED UPON REQUEST.)

<TABLE>
<CAPTION>
                        OPTION 1               OPTION 4              OPTION 4
                                             LIFE ANNUITY          LIFE ANNUITY
       AGE OF                              (W/120 PAYMENTS        (W/240 PAYMENTS
      ANNUITANT       LIFE ANNUITY           GUARANTEED)            GUARANTEED)
      ---------       ------------         ---------------        ---------------
<S>                   <C>                  <C>                    <C>
         55               4.04                   4.00                  3.90
         56               4.11                   4.08                  3.96
         57               4.19                   4.15                  4.02
         58               4.28                   4.23                  4.09
         59               4.37                   4.32                  4.15
         60               4.47                   4.41                  4.22
         61               4.57                   4.50                  4.29
         62               4.68                   4.61                  4.36
         63               4.80                   4.71                  4.43
         64               4.93                   4.82                  4.50
         65               5.07                   4.94                  4.57
         66               5.21                   5.07                  4.64
         67               5.37                   5.20                  4.72
         68               5.53                   5.34                  4.79
         69               5.71                   5.48                  4.86
         70               5.90                   5.63                  4.92
         71               6.11                   5.79                  4.99
         72               6.33                   5.95                  5.05
         73               6.57                   6.13                  5.11
         74               6.82                   6.30                  5.16
         75               7.10                   6.48                  5.21
         76               7.39                   6.67                  5.26
         77               7.71                   6.86                  5.30
         78               8.05                   7.05                  5.34
</TABLE>


                                       7
<PAGE>   8

<TABLE>
<S>                   <C>                  <C>                    <C>
         79               8.42                   7.24                  5.37
         80               8.81                   7.44                  5.40
         81               9.24                   7.63                  5.42
         82               9.70                   7.82                  5.44
         83              10.19                   8.00                  5.46
         84              10.72                   8.17                  5.47
         85              11.29                   8.34                  5.49
</TABLE>


                                       8
<PAGE>   9
              OPTION 2 - TABLE OF MONTHLY INSTALLMENTS PER $1,000.
   (MONTHLY INSTALLMENTS FOR AGES NOT SHOWN WILL BE FURNISHED UPON REQUEST.)
                       JOINT & 100% SURVIVOR LIFE ANNUITY

<TABLE>
<CAPTION>
                                                          AGE OF ANNUITANT
    AGE OF           ------------------------------------------------------------------------------------------
   ANNUITANT          55             60            65            70            75            80            85
   ---------         ----           ----          ----          ----          ----          ----          ----
<S>                  <C>            <C>           <C>           <C>           <C>           <C>           <C>
      55             3.54           3.66          3.77          3.85          3.92          3.97          4.00
      60             3.66           3.83          3.99          4.14          4.25          4.34          4.39
      65             3.77           3.99          4.23          4.45          4.65          4.80          4.91
      70             3.85           4.14          4.45          4.78          5.10          5.37          5.57
      75             3.92           4.25          4.65          5.10          5.57          6.02          6.40
      80             3.97           4.34          4.80          5.37          6.02          6.70          7.35
      85             4.00           4.39          4.91          5.57          6.40          7.35          8.35
</TABLE>

              OPTION 3 - TABLE OF MONTHLY INSTALLMENTS PER $1,000.
   (MONTHLY INSTALLMENTS FOR AGES NOT SHOWN WILL BE FURNISHED UPON REQUEST.)
         JOINT & 100% SURVIVOR LIFE ANNUITY (W/120 PAYMENTS GUARANTEED)

<TABLE>
<CAPTION>
                                                          AGE OF ANNUITANT
    AGE OF           -----------------------------------------------------------------------------------------
   ANNUITANT          55             60            65            70            75            80            85
   ---------         ----           ----          ----          ----          ----          ----          ----
<S>                  <C>            <C>           <C>           <C>           <C>           <C>           <C>
      55             3.54           3.66          3.76          3.85          3.91          3.96          3.98
      60             3.66           3.83          3.99          4.13          4.24          4.32          4.37
      65             3.76           3.99          4.22          4.44          4.63          4.77          4.86
      70             3.85           4.13          4.44          4.76          5.06          5.31          5.47
      75             3.91           4.24          4.63          5.06          5.50          5.89          6.18
      80             3.96           4.32          4.77          5.31          5.89          6.46          6.92
      85             3.98           4.37          4.86          5.47          6.18          6.92          7.55
</TABLE>

              OPTION 3 - TABLE OF MONTHLY INSTALLMENTS PER $1,000.
    (MONTHLY INSTALLMENTS FOR AGES NOT SHOWN WILL BE FURNISHED UPON REQUEST)
         JOINT & 100% SURVIVOR LIFE ANNUITY (W/240 PAYMENTS GUARANTEED)

<TABLE>
<CAPTION>
                                                        AGE OF ANNUITANT
      AGE OF        --------------------------------------------------------------------------------------
    ANNUITANT        55            60            65           70            75           80            85
    ---------       ----          ----          ----         ----          ----         ----          ----
<S>                 <C>           <C>           <C>          <C>           <C>          <C>           <C>
        55          3.53          3.65          3.75         3.82          3.87         3.89          3.90
        60          3.65          3.81          3.96         4.07          4.15         4.20          4.21
        65          3.75          3.96          4.16         4.34          4.46         4.53          4.56
        70          3.82          4.07          4.34         4.58          4.76         4.86          4.91
        75          3.87          4.15          4.46         4.76          4.99         5.13          5.20
        80          3.89          4.20          4.53         4.86          5.13         5.30          5.38
        85          3.90          4.21          4.56         4.91          5.20         5.38          5.46
</TABLE>



                                       9
<PAGE>   10
              OPTION 5 - TABLE OF MONTHLY INSTALLMENTS PER $1,000.
                       FIXED PAYMENT FOR SPECIFIED PERIOD

<TABLE>
<CAPTION>
      NUMBER            MONTHLY        NUMBER        MONTHLY       NUMBER       MONTHLY      NUMBER       MONTHLY
     OF YEARS           PAYMENT       OF YEARS       PAYMENT      OF YEARS      PAYMENT     OF YEARS      PAYMENT
     --------           -------       --------       -------      --------      -------     --------      -------
<S>                     <C>           <C>            <C>          <C>           <C>         <C>           <C>
                                         10           9.61           17          6.23          24           4.84
                                         11           8.86           18          5.96          25           4.71
        5                17.91           12           8.24           19          5.73          26           4.59
        6                15.14           13           7.71           20          5.51          27           4.47
        7                13.16           14           7.26           21          5.32          28           4.37
        8                11.68           15           6.87           22          5.15          29           4.27
        9                10.53           16           6.53           23          4.99          30           4.18
</TABLE>


                                       10
<PAGE>   11
                     VARIABLE ANNUITY PAYMENT OPTIONS TABLE

BASIS OF COMPUTATION

The actuarial basis for the Table of Annuity Rates is the 1983a Annuity
Mortality Table with projection and an effective annual Assumed Investment Rate
of 3.5%. The mortality table is projected using Projection Scale G factors,
assuming annuitization in the year 2000, and assumes an equal distribution of
males and females. The Variable Annuity Payment Options Table does not include
any applicable premium tax.

           OPTIONS 1v & 4v - TABLE OF MONTHLY INSTALLMENTS PER $1,000.
   (MONTHLY INSTALLMENTS FOR AGES NOT SHOWN WILL BE FURNISHED UPON REQUEST.)

<TABLE>
<CAPTION>
                  OPTION 1v           OPTION 4v               OPTION 4v
                                     LIFE ANNUITY           LIFE ANNUITY
  AGE OF                           (W/120 PAYMENTS         (W/240 PAYMENTS
 ANNUITANT       LIFE ANNUITY        GUARANTEED)             GUARANTEED)
 ---------       ------------      ---------------          --------------
<S>              <C>               <C>                      <C>
    55               4.33                4.30                   4.19
    56               4.41                4.37                   4.25
    57               4.49                4.44                   4.31
    58               4.57                4.52                   4.37
    59               4.66                4.61                   4.43
    60               4.76                4.70                   4.50
    61               4.86                4.79                   4.56
    62               4.98                4.89                   4.63
    63               5.09                5.00                   4.70
    64               5.22                5.11                   4.77
    65               5.36                5.22                   4.84
    66               5.50                5.35                   4.91
    67               5.66                5.48                   4.98
    68               5.83                5.61                   5.05
    69               6.00                5.76                   5.12
    70               6.20                5.91                   5.18
    71               6.40                6.06                   5.25
    72               6.62                6.23                   5.31
    73               6.86                6.39                   5.36
    74               7.12                6.57                   5.42
    75               7.39                6.75                   5.46
    76               7.69                6.93                   5.51
    77               8.01                7.12                   5.55
    78               8.35                7.31                   5.58
    79               8.72                7.50                   5.62
    80               9.11                7.69                   5.64
    81               9.54                7.88                   5.67
    82              10.00                8.07                   5.69
    83              10.50                8.24                   5.70
    84              11.03                8.42                   5.72
    85              11.60                8.58                   5.73
</TABLE>


                                       11
<PAGE>   12

              OPTION 2v - TABLE OF MONTHLY INSTALLMENTS PER $1,000.
    (MONTHLY INSTALLMENTS FOR AGES NOT SHOWN WILL BE FURNISHED UPON REQUEST.)
                       JOINT & 100% SURVIVOR LIFE ANNUITY

<TABLE>
<CAPTION>
                                                        AGE OF ANNUITANT
    AGE OF           -----------------------------------------------------------------------------------------
   ANNUITANT          55             60            65            70            75            80            85
   ---------         ----           ----          ----          ----          ----          ----          ----
<S>                  <C>            <C>           <C>           <C>           <C>           <C>           <C>
      55             3.83           3.95          4.05          4.14          4.21          4.26          4.29
      60             3.95           4.11          4.27          4.42          4.53          4.62          4.68
      65             4.05           4.27          4.50          4.73          4.92          5.08          5.19
      70             4.14           4.42          4.73          5.05          5.37          5.64          5.85
      75             4.21           4.53          4.92          5.37          5.84          6.29          6.67
      80             4.26           4.62          5.08          5.64          6.29          6.97          7.62
      85             4.29           4.68          5.19          5.85          6.67          7.62          8.61
</TABLE>

              OPTION 3v - TABLE OF MONTHLY INSTALLMENTS PER $1,000.
   (MONTHLY INSTALLMENTS FOR AGES NOT SHOWN WILL BE FURNISHED UPON REQUEST.)
         JOINT & 100% SURVIVOR LIFE ANNUITY (W/120 PAYMENTS GUARANTEED)

<TABLE>
<CAPTION>
                                                          AGE OF ANNUITANT
    AGE OF           ------------------------------------------------------------------------------------------
   ANNUITANT          55             60            65            70            75            80            85
   ---------         ----           ----          ----          ----          ----          ----          ----
<S>                  <C>            <C>           <C>           <C>           <C>           <C>           <C>
      55             3.83           3.95          4.05          4.14          4.20          4.25          4.27
      60             3.95           4.11          4.27          4.41          4.52          4.60          4.65
      65             4.05           4.27          4.50          4.72          4.91          5.05          5.14
      70             4.14           4.41          4.72          5.03          5.33          5.58          5.75
      75             4.20           4.52          4.91          5.33          5.77          6.16          6.45
      80             4.25           4.60          5.05          5.58          6.16          6.72          7.17
      85             4.27           4.65          5.14          5.75          6.45          7.17          7.80
</TABLE>

              OPTION 3v - TABLE OF MONTHLY INSTALLMENTS PER $1,000.
    (MONTHLY INSTALLMENTS FOR AGES NOT SHOWN WILL BE FURNISHED UPON REQUEST)
         JOINT & 100% SURVIVOR LIFE ANNUITY (W/240 PAYMENTS GUARANTEED)

<TABLE>
<CAPTION>
                                                             AGE OF ANNUITANT
     AGE OF               ---------------------------------------------------------------------------------------
    ANNUITANT              55            60            65            70           75           80            85
    ---------             ----          ----          ----          ----         ----         ----          ----
<S>                       <C>           <C>           <C>           <C>          <C>          <C>           <C>
        55                3.82          3.94          4.03          4.11         4.15         4.18          4.19
        60                3.94          4.09          4.24          4.35         4.43         4.47          4.49
        65                4.03          4.24          4.44          4.61         4.73         4.80          4.83
        70                4.11          4.35          4.61          4.84         5.02         5.12          5.17
        75                4.15          4.43          4.73          5.02         5.25         5.38          5.45
        80                4.18          4.47          4.80          5.12         5.38         5.55          5.62
        85                4.19          4.49          4.83          5.17         5.45         5.62          5.70
</TABLE>


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<PAGE>   13

              OPTION 5v - TABLE OF MONTHLY INSTALLMENTS PER $1,000.
                         PAYMENTS FOR A SPECIFIED PERIOD

<TABLE>
<CAPTION>
    NUMBER           MONTHLY        NUMBER        MONTHLY       NUMBER        MONTHLY       NUMBER        MONTHLY
   OF YEARS          PAYMENT       OF YEARS       PAYMENT      OF YEARS       PAYMENT      OF YEARS       PAYMENT
   --------          -------       --------       -------      --------       -------      --------       -------
<S>                  <C>           <C>            <C>          <C>            <C>          <C>             <C>
                                      10            9.83          17           6.47           24           5.09
                                      11            9.09          18           6.20           25           4.96
       5              18.12           12            8.46          19           5.97           26           4.84
       6              15.35           13            7.94          20           5.75           27           4.73
       7              13.38           14            7.49          21           5.56           28           4.63
       8              11.90           15            7.10          22           5.39           29           4.53
       9              10.75           16            6.76          23           5.24           30           4.45
</TABLE>


                                       13
<PAGE>   14
All other terms and conditions of the Certificate remain unchanged.

ANCHOR NATIONAL LIFE INSURANCE COMPANY

    /s/ CHRISTINE A. NIXON                          /s/ JAY S. WINTROB
--------------------------------            ------------------------------------
        Christine A. Nixon                              Jay S. Wintrob
       Assistant Secretary                                President


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