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[LOGO]
INTEGRITY LIFE INSURANCE COMPANY
WORTHINGTON, OHIO


PRINCIPAL EXECUTIVE OFFICE:
515 West Market Street, 8th Floor
Louisville, KY 40202



Integrity Life Insurance Company, in consideration of the Contribution
specified herein, agrees to make the payments as provided under this
agreement, subject to all provisions of this agreement.

The provisions of this agreement shall be construed in accordance with the
laws of the issuer's state of domicile (that is, Ohio) without regard to the
conflicts of law provision thereof.

Signed by our President and Secretary on the Effective Date.



        /s/ [ILLEGIBLE]                        /s/ John R. Lindholm
        --------------------------------       -------------------------------
        Secretary                              President



SEPARATE ACCOUNT GROUP ANNUITY CONTRACT
INDEXED INTEREST RATE
NONPARTICIPATING








POLICY FORM NUMBER SAFUNDAGR-INT-97

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SCHEDULE PAGE


      OWNER -                          BRAVO Trust Series 1997-1


      AGREEMENT NUMBER -               IFA00141ST


      EFFECTIVE DATE -                 November 25, 1997


      MATURITY DATE -                  October 15, 2002 (or the latest date to
                                       which this Agreement has been extended
                                       pursuant to Section 8.11 hereof or
                                       such earlier date on which a full
                                       withdrawl under the provisions of the
                                       Custody Agreement (as defined below)
                                       has occurred).

      INITIAL CONTRIBUTION -           $500,000,000.00


      EXPENSE OR SERVICE CHARGES -     None (except as may be agreed upon by the
                                       parties hereto)


      INTEREST ACCUMULATION PERIODS -  Interest payable shall be accumulated
                                       on a quarterly basis as follwos:  (i)
                                       the Effective Date through January
                                       14,1998 (the "Initial Stub Period"),
                                       (ii) after the Initial Stub Period,
                                       each quarter thereafter beginning from
                                       15th day of such quarter thereafter
                                       through the 14th day following the end
                                       of such calendar quarter (i.e.,
                                       January 15th through April 14th, April
                                       15th through July 14th, July 15th
                                       through October 14th, October 15th
                                       through January 14th, and (iii) the
                                       stub period, if any, from the 15th day
                                       after the end of the final full
                                       quarter prior to this agreement's
                                       applicable Maturity Date through such
                                       Maturity Date (the "Final Stub
                                       Period").


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      INTEREST PAYMENT DATES -         Interest shall be paid no later than
                                       noon, Eastern Time, on each October
                                       15th, January 15th, April 15th and
                                       July 15th, and on the Maturity Date,
                                       provided that, if any such day is not
                                       a Business Day, then on the next
                                       Business Day thereafter.

      INDEX VALUE -                    Three Month LIBOR + 25 basis points
                                       (i.e., three month LIBOR + .25%).
                                       Three Month LIBOR (London Interbank
                                       Offered Rate) shall be the British
                                       Bankers Association fixing of the
                                       three month LIBOR rate at 11:00 a.m.
                                       (London time) on that day which is two
                                       LIBOR-Based Business Days prior to the
                                       beginning of the applicable Interest
                                       Accumulation Period, as reported on
                                       Bloomberg L.P.'s Financial Markets
                                       Commodities News ("Bloomberg") under
                                       the Ticker Symbol US0003M, on display
                                       page 3750 (or such other page as may
                                       replace that page on that service) on
                                       the Dow Jones Telerate Service
                                       ("Telerate"), or on any other
                                       nationally recognized service approved
                                       by You. Should there be a discrepancy
                                       between the Bloomberg and Telerate
                                       reporting of the three month LIBOR
                                       rate mentioned above, then the
                                       Telerate rate shall be used.

      GROUP -                          Beneficial owners of Trust Certificates
                                       issued by BRAVO Trust Series 1997-1


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TABLE OF CONTENTS                                                         PAGE


Section 1 Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

Section 2 Deposit Fund. . . . . . . . . . . . . . . . . . . . . . . . . . . 3

Section 3 Credits to and Value of Deposit Fund. . . . . . . . . . . . . . . 4

Section 4 Payments and Withdrawals. . . . . . . . . . . . . . . . . . . . . 5

Section 5 Separate Accounts . . . . . . . . . . . . . . . . . . . . . . . . 6

Section 6 Termination . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

Section 7 Annuity Purchases . . . . . . . . . . . . . . . . . . . . . . . . 8

Section 8 General Provisions. . . . . . . . . . . . . . . . . . . . . . . . 9














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SECTION 1 - DEFINITIONS

1.01     DEFINITIONS

     "BUSINESS DAY" means any calendar day that is not (a) a Saturday, (b) a
     Sunday, (c) a federally-declared national bank holiday, (d) a
     federally-declared national holiday, or (e) an official holiday declared
     by and recognized in either The Commonwealth of Kentucky or the State of
     Minnesota.

     "COMBINED ASSETS" means the Separate Account assets and the Supporting
     Separate Account assets held in the Custody Account.

     "CONTRIBUTION" means a cash payment pre-approved by Us which You make to
     Us, and We accept, for credit to the Deposit Fund.

     "CUSTODIAN" means First Trust National Association or its successor
     under the Custody Agreement.

     "CUSTODY ACCOUNT" means the Main Custodial Account and the Supporting
     Custodial Account.

     "CUSTODY AGREEMENT" means the custodial agreement among You, Us, the
     Custodian and Bayerische Landesbank Girozentrale, New York Branch which
     governs the terms of the Custody Account.

     "DEPOSIT FUND" means the liability account established by Us on Our
     books and records in accordance with Section 2 hereof for the purpose of
     providing payments pursuant to Section 4 hereof.

     "EARLY CERTIFICATE MATURITY EVENT" has the meaning set forth in the
     Custody Agreement.

     "EARLY FUNDING AGREEMENT TERMINATION EVENT" has the meaning set forth in
     the Custody Agreement.

     "EFFECTIVE DATE" means the first Business Day upon which the
     Contribution has been received by Us prior to 10:00 a.m. EST, as set
     forth on the Schedule Page.

     "INTEREST ACCUMULATION PERIOD" means the quarterly period between
     scheduled interest payments as set forth on the Schedule Page.

     "INTEREST PAYMENT DATES" mean the dates upon which interest payments are
     to be made under this agreement as set forth on the Schedule Page.


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     "INVESTMENT GUIDELINES" means the guidelines agreed upon from time to
     time by Us and the Liquidity Provider for the Senior Securities (subject
     to any applicable Rating Agency parameters) which govern the asset
     classes and amounts in which the Combined Assets supporting the amount
     of the Deposit Fund and any accumulations thereon may be invested.

     "LIBOR-BASED BUSINESS DAY" means any day that LIBOR is calculated and
     published publicly (electronically or otherwise).

     "LIQUIDITY AGREEMENT" means the Standby Trust Certificate Purchase
     Agreement dated as of November 25, 1997, among the Trust, Bayerische
     Landesbank Girozentrale, New York Branch, and Integrity Life Insurance
     Company.

     "LIQUIDITY PROVIDER" means Bayerische Landesbank Girozentrale, New York
     Branch, or any successor thereto as liquidity provider under the
     Liquidity Agreement.

     "MAIN CUSTODIAL ACCOUNT" means that certain segregated custodial
     sub-account maintained with the Custodian pursuant to the terms of the
     Custody Agreement which, in combination with the Supporting Custodial
     Account, contains the assets supporting the Deposit Fund.

     "MARKET AGENT" means Bayerische Landesbank Girozentrale, New York
     Branch, or any successor thereto under the Market Agent Agreement.

     "MARKET AGENT AGREEMENT" means the Market Agent Agreement dated the date
     hereof between the Market Agent and You.

     "MATURITY DATE" refers to the Maturity date set forth on the Schedule
     Page.

     "RATING AGENCIES" means Standard & Poor's Ratings Services and Moody's
     Investors Service, Inc.

     "SCHEDULE PAGE" means the pages designated as such which immediately
     follow this agreement's initial, manually signed cover page.

     "SENIOR SECURITIES" means the Class A Trust Certificates issued by the
     Trust.

     "SEPARATE ACCOUNT" means Separate Account IV established by Us pursuant
     to the provisions of Section 3907.15 of the Ohio Revised Code to hold,
     inter alia, the assets which, in combination with the assets held in the
     Supporting Separate Account, support the Deposit Fund.

     "SUBORDINATE SECURITIES" means the Class B Trust Certificates issued by
     the Trust.


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     "SUPPORTING CUSTODIAL ACCOUNT" means that certain segregated custodial
     sub-account maintained with the Custodian pursuant to the terms of the
     Custody Agreement which holds any amounts contributed to such account in
     support of Our payment obligations under this agreement which are
     additional to any amounts held in the Main Custodial Account.

     "SUPPORTING SEPARATE ACCOUNT" means Separate Account V established by Us
     pursuant to the provisions of Section 3907.15 of the Ohio Revised Code
     to support Our payment obligations under this agreement which Separate
     account shall be additional to, and established in support of, the
     Separate Account.

     "TRUST" means the BRAVO Trust Series 1997-1.

     "WE", "US, AND "OUR" refers to Integrity Life Insurance Company.

     "WEEKLY VALUATION" means the valuation of the assets held in the Main
     Custodial Account and the Supporting Custodial Account which is to be
     performed by the Custodian pursuant to the Custody Agreement on a weekly
     basis and to be provided to You on the last Business Day of each week
     during the term of this Agreement.

     "YOU", "YOUR", AND "YOURS", refers to the Owner named on the Schedule
     Page.


SECTION 2 - DEPOSIT FUND

2.01      CONTRIBUTIONS

     A Deposit Fund shall be established by Us on Our books and records
     upon receipt by Us of the payment of the Initial Contribution.
     Contributions shall be credited to the Deposit Fund (i) on the date
     received by the Custodian if prior to 12:00 NOON, Eastern Standard
     Time, provided that notice is received by the Custodian in writing
     at least one day prior thereto and (ii) otherwise on the following
     Business Day.

2.02      STATEMENTS

     Once a week on the last Business Day of the week, We will provide or
     cause to be provided to You, the Liquidity Provider and any other
     person You or the Liquidity indicates to Us a statement comparing
     the market value of the Combined Assets with the amount of the
     Deposit Fund, both compared as of the penultimate Business Day of
     such week.  In addition, We will cause the Custodian to supply You
     and Us a copy of (or electronic access to) the Weekly Valuation
     promptly upon its completion.


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2.03      CURRENCY

     All payments of cash made to or by Us shall be payable in U.S
     Dollars.

SECTION 3 - CREDITS TO AND VALUE OF DEPOSIT FUND

3.01      INDEX VALUE

     The Daily Factor used to determine interest credited hereunder
     shall be calculated as follows:  DAILY FACTOR = (INDEX VALUE) /360.

3.02      AMOUNT OF DEPOSIT FUND

     On the 15th day following the end of any calendar quarter (except any
     quarter following the Maturity Date), the amount of the Deposit
     Fund shall be equal to (a), plus (b), minus (c) minus (d), where;

     (a)  is the amount of the Deposit Fund as of the close of business
          on, as applicable, the Effective Date (in the case of  the first
          such determination hereunder) or the 15th day following the end of
          the previous calendar quarter (i.e., October 15th in the case of a
          January 15 determination, January 15th in the case of an April
          15th determination, April 15th in the case of a July 15th
          determination, and July 15th in the case of an October 15th
          determination);

     (b)  is (a) times the actual number of days in the previous
          Interest Accumulation Period times the Daily Factor applicable to
          such Interest Accumulation Period;

     (c)  is any authorized payment, charge or withdrawal during the
          previous Interest Accumulation Period; and

     (d)  is (c) times the Daily Factor applicable to such Interest
          Accumulation Period times the actual number of days from the date
          such payment, charge or withdrawal was effective through the end of
          such Interest Accumulation Period, inclusive.

     Interest shall be credited daily and paid out in cash on the
     Interest Payment Dates.  On any day other than the 15th day of a
     quarter, the amount of the Deposit Fund shall be determined on a
     basis consistent with that used in this Section 3.02.  The amount
     of the Deposit Fund will never be less than the total amount of the
     Initial Contribution; plus interest credited; less payments and
     withdrawals with interest (based on the Index Value).

3.03      NONPARTICIPATING

     This is a nonparticipating contract.  It will not share in Our
     surplus or profit.  Our obligation to credit interest to the amount
     of the Deposit Fund is absolute and unconditional and does not
     depend on Our surplus or profit.  If the Combined Assets are
     insufficient to pay You the


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     amount of the Deposit Fund, then We have an obligation to pay any
     such shortfall from Our general account.

SECTION 4 - PAYMENTS AND WITHDRAWALS

4.01      PAYMENTS

     Interest payments shall be made on the Interest Payment Dates.
     Except as set forth in Section 6.01 hereof, the then-existing
     amount of the Deposit Fund shall be paid on the Maturity Date.

4.02      PAYEE

     We will make all payments to the payee You designate in writing,
     unless prohibited by law.

4.03      METHOD OF PAYMENT

     Payments shall be charged against the Deposit Fund as of the date
     they are made.  Payments (other than to purchase annuities) shall
     be made by wire transfer.  If on a due date the Federal Reserve
     Wire Transfer system is closed, payment will be made on the first
     Business Day such system is subsequently open.

4.04      WITHDRAWALS

     Withdrawal of the assets supporting the Deposit Fund prior to the
     maturity of this agreement may not be made except as provided in the
     Custody Agreement, as it may be amended from time to time, and
     shall be made at the times required for such withdrawals by the
     Custody Agreement, as so amended.

4.05      CERTIFICATION OF TRANSFERS AND WITHDRAWALS

     Prior to or concurrently with the allocation of a transfer of any
     general account asset of Integrity to the Separate Account or the
     Supporting Separate Account and the transfer of such assets to the
     Main Custodial Account and the Supporting Custodial Account, we
     shall deliver a certificate to the Custodian and Rating Agencies to
     the effect that:

     1.  The allocation and transfer have been approved by the
     superintendent of insurance of Our then-current state of domicile;
     or


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     2.   The allocation and transfer are made solely to support the
          guarantees of the policies, annuities, or other contracts identified
          with the Separate Account and the Supporting Separate Account; and
          in addition that:

          (i)    such transfer is of cash or securities having a readily
                 determinable market value;

          (ii)   no Early Certificate Maturity Event has occurred and is
                 continuing;

          (iii)  Integrity has received fair consideration for such transfer
                 under this agreement; and

          (iv)   Integrity is not insolvent.

     Prior to or concurrent with a withdrawal by Integrity of any cash from
     the Separate Account or the Supporting Separate Account or from the Main
     Custodial Account or the Supporting Custodial Account, we shall deliver
     a certificate to the Custodian and the Rating Agencies to the effect
     that:

     1.   (i)    The withdrawal is approved by such superintendent of
                 insurance; or

          (ii)   The withdrawal is of amounts previously allocated to the
                 Separate Account or the Supporting Separate Account which
                 are no longer needed to support the guarantees of the
                 policies, annuities, or other contracts identified
                 therewith; and in addition that:

                 (A)  such withdrawal is of cash;

                 (B)  no Early Certificate Maturity Event has occurred and is
                      continuing; and

                 (C)  Integrity is not insolvent.

     2.   The withdrawal will not result in the market value (as determined by
          the Custodian) of the assets in the Separate Account and the
          Supporting Separate Account falling below 102% of the
          then-applicable value of the Deposit Fund.

SECTION 5 - SEPARATE ACCOUNTS

5.01      NATURE OF THE SEPARATE ACCOUNTS

     We shall allocate the Initial Contribution to the Separate Account, and
     transfer same to the Main Custodial Account, immediately upon receipt.
     Concurrently therewith We shall


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     allocate an additional $10 million to the Supporting Separate Account and
     transfer same to the Supporting Custodial Account.  As a result, the
     Combined Assets equal to the reserves and other contractual liabilities
     under this agreement shall not be chargeable with liabilities arising
     out of any other business of Ours.  In addition, the income, gains, and
     losses on such assets shall only be credited to or charged against the
     assets held in the respective Separate Accounts without regard to Our
     other income, gains or losses.  Under Ohio law (and subject to the
     foregoing stipulations), We will own the assets placed in the Separate
     Account and the Supporting Separate Account, and We will not be, or hold
     ourselves out to be, a trustee in respect of such assets.

5.02      REQUIRED ASSET MAINTENANCE LEVEL

     Subject to the provisions of Section 2.7(a)(ii)(B) of the Custody
     Agreement, during the term of this Agreement the market value of the
     Combined Assets (based upon the then-applicable Weekly Valuation) shall
     be maintained at not less than 102% of the then-applicable amount of
     the Deposit Fund (the "Required Asset Maintenance Level"), provided,
     however, that after the date hereof it shall not be a breach of this
     agreement or an "Early Certificate Maturity Event" or a "Margin Deficit"
     under the Custody Agreement as long as Integrity maintains the market
     value of the Combined Assets at no more than $1 million below the
     Required Asset Maintenance Level.  In the event that the market value of
     the Combined Assets declines below the Required Asset Maintenance Level
     in an amount greater than $1 million, We shall within the time period
     required by the Custody Agreement add sufficient additional assets to
     the Supporting Custodial Account so that the market value of the
     Combined Assets is again equal to or greater than the Required Asset
     Maintenance Level.

SECTION 6 - TERMINATION

6.01      PROCEDURE AND TIMING

     Upon the occurrence of an "Early Certificate Maturity Event" or an "Early
     Funding Agreement Termination Event", on the appropriate dates set forth
     in Section 2.8 of the Custody Agreement, the Custodian shall pay the
     then-applicable amount of the Deposit Fund to You.  Except upon payment
     of the full then-applicable amount of the Deposit Fund as set forth in the
     preceding sentence, this Agreement shall not be terminated prior to the
     Maturity Date.

6.02      EFFECT OF TERMINATION

     On and after the date written notice of termination is received by us:

     (1)  No further Contributions shall be pre-approved or accepted by Us
          under this agreement except upon Our written consent; and


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     (2)  We shall continue to credit the Deposit Fund with interest as
          described in Section 3 hereof, up to but not including the date of
          termination.

6.03      METHOD OF DISTRIBUTION

     Subject to the provisions of Section 8.12 hereof, the amount of the
     Deposit Fund as determined by such Section 3 shall be paid to You in
     cash in one lump sum, or by another method if mutually agreed upon by Us
     and You.

6.04      DISCHARGE OF LIABILITY

     Full distribution of assets equal to the amount of the Deposit Fund by
     Us in accordance with this Section 6 or Section 4 hereof shall
     constitute a full discharge of Our liability with respect to this
     Agreement.

SECTION 7 - ANNUITY PURCHASES

7.01      PURCHASE PROVISIONS

     Upon Your duly authorized written direction, We shall apply cash
     payments to purchase an annuity or annuities for such person or persons
     who are members of the Group in such manner and amounts and upon such
     terms and conditions as are specified by You and agreed upon by Us.  Such
     annuity shall be purchased on the date of the cash payment at Our annuity
     purchase rate in effect on that date.

7.02      MAXIMUM ANNUITY PURCHASE RATES

     The maximum annuity purchase rate at attained age 65 is $191.20 per each
     $1.00 if monthly benefit guaranteed to be paid for 10 years, and for as
     long thereafter as the designated life survives.  This rate does not
     include premium taxes, if any.

     Actual purchase rates available at the time of an annuity election may
     result in a larger benefit amount.  In no case will these purchase rates
     exceed the maximum rates.  Additional payment plans may also be
     available.

7.03      SMALL ANNUITIES

     We reserve the right to make annuity payments at three-, six-, or
     twelve-month intervals, or in a single lump sum, if necessary to comply
     with Our minimum payment rules in effect at the time the annuity option
     is selected.


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7.04      PROOF OF AGE AND SURVIVAL

     We reserve the right to request proof that any person or persons for
     whom an annuity has been requested is living on the date of the cash
     payment.  We also reserve the right to request proof of age of any such
     person or persons.

7.05      SUPPLEMENTAL CONTRACTS

     We shall issue to the Owner for delivery to each person for whom an
     annuity has been provided or purchased pursuant to this agreement a
     supplemental contract summarizing the principal provisions of such
     annuity.

SECTION 8 - GENERAL PROVISIONS

8.01      SYNCHRONIZED MATURITY PERIODS

     Each maturity period applicable to the Senior Securities shall end on an
     Interest Payment Date.  You agree that, although You or any Market Agent
     with respect to the Senior Securities may from time to time change the
     length of the maturity period(s), all Senior Securities issued by You at
     any particular time shall have identical (i.e. "synchronized") maturity
     periods.  Any and all remarketing agents utilized with respect to the
     Senior Securities shall be appointed by You in consultation with the
     Liquidity Provider but only with Our consent with respect to identity
     and compensation, which consent shall not be unreasonably withheld.

8.02      NOTIFICATION OF REMARKETING RESULTS

     You agree to notify Us in writing of the results of each failed
     remarketing effort with respect to the Senior Securities within a
     reasonable time thereafter.

8.03      PRIOR APPROVAL OF USE OF OUR NAME

     You agree that You will obtain Our approval of any marketing or other
     materials containing references to Our (or Our affiliates') name(s),
     logo(s), trademark(s) or product(s) prior to use of such material in any
     manner whatsoever.

8.04      ISSUANCE OF SECURITIES

     You agree that, during the term of this agreement, the Trust shall not
     engage in the issuance of more than $500 million of combined value of
     Senior Securities and Subordinated Securities without Our prior
     approval.  Any securities issued by the Trust shall be without recourse
     to any of Our assets.  In addition, any Senior Securities issued by the
     Trust during


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     the term of this agreement (including any and all remarketings thereof)
     shall bear interest at a rate equal to a rate that is determined by the
     Market Agent, in consultation with the then-current remarketing agent(s)
     applicable to the Senior Securities, and Integrity each using their
     reasonable good-faith judgment and based upon then-comparable issuers
     and securities.

8.05      AMENDMENT OF AGREEMENT

     The terms and conditions of this agreement, including, without limitation,
     its Maturity Date, may be changed at any time by written agreement
     between You (and/or Your designee) and Us.  Changes are not valid
     unless made in writing and signed by one of Our officers and Your
     Trustee.  Unless otherwise required by applicable state insurance
     regulatory authorities, no amendment may be made if a Rating Agency
     determines (after receiving prior written notice of such contemplated
     amendment) such amendment would adversely affect the rating it has
     assigned to the Senior Securities.  If any such amendment is required by
     a state insurance regulatory authority and results in one or both of the
     Rating Agencies lowering or withdrawing their then-current rating of the
     Senior Securities, then the provisions of Section 2.7(a)(iii)(C) of the
     Custody Agreement shall be applicable.  No agent, broker, or other
     representative has the authority to change this agreement or to waive
     any of its provisions.

8.06      NOTICE

     Any notice, directive, certificate, or other writing required by the
     provisions of this agreement to be delivered to Us shall be delivered at
     Our Principal Executive Office at 515 West Market Street, 8th Floor,
     Louisville, Kentucky 40202.  Any notice, certification or other writing
     required by the provisions of this agreement to be delivered to You
     shall be delivered at Your address as designated in writing by You.

8.07      ASSIGNMENT

     No resale, transfer, pledge or other assignment shall be effective
     without (i) Our consent and Our prior notice to You and the Rating
     Agencies, and (ii) Your surrender of this Agreement and our issuance of
     a new agreement to the new owner or owners.

8.08      ENTIRE CONTRACT

     The entire contract is made up of this agreement, the Schedule Page and
     amendments hereto.

8.9       INCONTESTABILITY

     We cannot contest this agreement.


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8.10      SEVERABILITY

     Any provisions of this agreement which are or become prohibited or
     unenforceable in any jurisdiction shall not invalidate or render
     unenforceable such provisions in any other jurisdiction, nor shall such
     action invalidate or impair the remaining provisions hereof.

8.11      MATURITY

     After this Agreement has been in effect for five years, this Agreement
     shall be automatically extended for additional one-year periods
     beginning at the completion of the then-current period.  These
     extensions shall occur automatically unless either party hereto notifies
     the other party hereto otherwise in writing 60 days prior to the
     then-applicable extension date.  In no event, however, shall this
     Agreement extend beyond October 15, 2007.

8.12      INCORPORATION OF CUSTODY AGREEMENT BY REFERENCE

     All provisions of the Custody Agreement are hereby incorporated herein
     by reference and made a part hereof.


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