<PAGE>
                                                                    EXHIBIT 4(a)

                     ANCHOR NATIONAL LIFE INSURANCE COMPANY

                     A STOCK COMPANY LOS ANGELES, CALIFORNIA

CONTRACT NUMBER   P9999999999

OWNER   JOHN DOE

<TABLE>
<S>                               <C>                            <C>
   STATUTORY HOME OFFICE               EXECUTIVE OFFICE            ANNUITY SERVICE CENTER
2999 NORTH 44TH ST., STE 250          1 SUNAMERICA CENTER              P. O. BOX 54299
     PHOENIX, AZ 85018            LOS ANGELES, CA 90067-6022     LOS ANGELES, CA 90054-0299
</TABLE>

ANCHOR NATIONAL LIFE INSURANCE COMPANY ("We", "Us", the "Company", or "Anchor
National") agrees to provide benefits to the Owner in accordance with the
provisions set forth in this Contract and in consideration of the Application
and Purchase Payments We received.

THE VALUE OF AMOUNTS ALLOCATED TO THE SEPARATE ACCOUNT DURING THE ACCUMULATION
AND ANNUITY PERIODS IS NOT GUARANTEED AND WILL INCREASE OR DECREASE BASED UPON
THE INVESTMENT EXPERIENCE OF THE INVESTMENTS UNDERLYING THE SUBACCOUNTS YOU
CHOOSE.

THE CASH SURRENDER BENEFIT OF AMOUNTS ALLOCATED TO ANY FIXED MVA ACCOUNT OPTION
INCREASES OR DECREASES BASED ON THE APPLICATION OF THE MARKET VALUE ADJUSTMENT.
THE UNADJUSTED CASH SURRENDER BENEFIT IS AVAILABLE FOR 30 DAYS AFTER THE END OF
THE GUARANTEE PERIOD. THERE IS NO MARKET VALUE ADJUSTMENT FOR ANY CASH SURRENDER
BENEFIT OF AMOUNTS ALLOCATED TO FIXED NON-MVA ACCOUNT OPTIONS.

RIGHT TO EXAMINE - YOU MAY RETURN THIS CONTRACT TO OUR ANNUITY SERVICE CENTER OR
TO THE AGENT THROUGH WHOM THE CONTRACT WAS PURCHASED WITHIN 10 DAYS AFTER YOU
RECEIVE IT, IF YOU ARE NOT SATISFIED WITH IT. THE COMPANY WILL REFUND THE
CONTRACT VALUE ON THE BUSINESS DAY DURING WHICH THE CONTRACT IS RECEIVED. UPON
SUCH REFUND, THE CONTRACT SHALL BE VOID.

For Individual Retirement Annuities, a refund of the Purchase Payment(s) may be
required. Therefore, We reserve the right to allocate your Purchase Payment(s)
to the Cash Management Subaccount until the end of the Right To Examine period.
Thereafter, allocations will be made as shown on the Contract Purchase Payment
Allocation page.

                  THIS IS A LEGAL DOCUMENT. READ IT CAREFULLY.


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


                              INDIVIDUAL FIXED AND
                            VARIABLE ANNUITY CONTRACT
                                Nonparticipating



                                       1
<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<S>                                                                      <C>
CONTRACT DATA PAGE ................................................       PAGE 3

PURCHASE PAYMENT ALLOCATION .......................................       PAGE 4

DEFINITIONS .......................................................       PAGE 5

PURCHASE PAYMENT PROVISIONS .......................................       PAGE 8

ACCUMULATION PROVISIONS ...........................................       PAGE 8

CHARGES AND DEDUCTIONS ............................................      PAGE 11

TRANSFER PROVISION ................................................      PAGE 12

WITHDRAWAL PROVISIONS .............................................      PAGE 12

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

DEATH PROVISIONS ..................................................      PAGE 16

ANNUITY PROVISIONS ................................................      PAGE 18

ANNUITY PAYMENT OPTIONS ...........................................      PAGE 20

FIXED ANNUITY PAYMENT OPTIONS TABLE ...............................      PAGE 21

VARIABLE ANNUITY PAYMENT OPTIONS TABLE ............................      PAGE 24
</TABLE>



                                       2
<PAGE>

                               CONTRACT DATA PAGE

<TABLE>
<S>                                           <C>
CONTRACT NUMBER:                              ANNUITY SERVICE CENTER:
         P9999999999                          P. O. BOX 54299
                                              LOS ANGELES, CA 90054-0299

OWNER:                                        AGE AT ISSUE:
       JOHN DOE                                      35

ANNUITANT:                                    INITIAL PURCHASE PAYMENT:
       JOHN DOE                                      $10,000.00

SPECIFIED ANNUITY DATE:                       CONTRACT DATE:
       June 7, 2031                                  June 7, 2001

LATEST ANNUITY DATE:                          MINIMUM GUARANTEE RATE FOR
       June 7, 2061                           FIXED ACCOUNT OPTIONS:
                                                     3.0%

BENEFICIARY:                                  EXPENSE RISK CHARGE:
       As named by You                               [0.35%]

MORTALITY RISK CHARGE:                        GUARANTEED DEATH BENEFIT RISK CHARGE:
       [0.90%]                                       [0.15%]

ANNUAL CONTRACT ADMINISTRATION CHARGE:        DISTRIBUTION EXPENSE CHARGE:
       $35.00                                        [0.15%]

SEPARATE ACCOUNT:
       [Variable Annuity Account Five]

       OPTIONAL ELECTIONS                     OPTIONAL ELECTION CHARGES:
       OPTIONAL DEATH BENEFIT ELECTED:
            Purchase Payment Accumulation            0.25%
</TABLE>

                                  FOR INQUIRIES
                              [CALL 1-800-445-7862]



                                       3
<PAGE>

                           PURCHASE PAYMENT ALLOCATION

                                   Subaccounts

<TABLE>
                     <S>        <C>
                     80.00%     Growth Strategy
                      0.00%     Moderate Growth Strategy
                      0.00%     Balanced Growth Strategy
                      0.00%     Conservative Growth Strategy
                      0.00%     Large Cap Growth Portfolio
                      0.00%     Large Cap Composite Portfolio
                      0.00%     Large Cap Value Portfolio
                      0.00%     Mid Cap Growth Portfolio
                      0.00%     Mid Cap Value Portfolio
                      0.00%     Small Cap Portfolio
                      0.00%     International Equity Portfolio
                      0.00%     Diversified Fixed Income Portfolio
                      0.00%     Cash Management Portfolio
                      0.00%     Focus Growth Portfolio
                      0.00%     Focus Growth and Income Portfolio
                      0.00%     Focus Value Portfolio
                      0.00%     Focus TechNet Portfolio
                      0.00%     Strategic Growth Portfolio
                      0.00%     Conservative Growth Portfolio
                      0.00%     Balanced  Portfolio
                      0.00%     Conservative Balanced Portfolio
                      0.00%     Flexible Income Portfolio
                      0.00%     Short Term Income Fund
                      0.00%     Government Securities Fund
                      0.00%     Income Fund
                      0.00%     Money Market Fund
                      0.00%     Equity Income Fund
                      0.00%     Growth & Income Fund
                      0.00%     Growth Fund of the Northwest
                      0.00%     Growth Fund
                      0.00%     Mid Cap Stock Fund
                      0.00%     Small Cap Stock Fund
                      0.00%     International Growth Fund
</TABLE>


                              Fixed Account Options

<TABLE>
<CAPTION>
                       Guarantee                       Initial
                         Period                     Interest Rate
                       ---------                    -------------
       <S>         <C>                              <C>
       20.00%      1-Year Fixed Non-MVA                  3.00%
        0.00%      3-Year Fixed MVA
</TABLE>

                            DCA Fixed Account Options

<TABLE>
       <S>         <C>
        0.00%      6-Month DCA Fixed Non-MVA
        0.00%      1-Year DCA Fixed Non-MVA
</TABLE>



                                       4
<PAGE>

                                   DEFINITIONS

Defined in this section are some of the words and phrases used in this Contract.
These terms are capitalized when used in the Contract. Other capitalized terms
in the Contract refer to the captioned paragraph explaining that particular
concept in the Contract.

ACCUMULATION UNIT

A unit of measurement used to compute the Contract Value in a Subaccount prior
to the Annuity Date.

AGE

Age as of last birthday.

ANNUITANT

The natural person or persons (collectively, Joint Annuitants) whose life or
lives is/are used to determine the annuity benefits under the Contract. If the
Contract is in force and the Annuitant(s) is/are alive on the Annuity Date, We
will begin payments to the Payee. This Contract cannot have Joint Annuitants if
it is issued in connection with a tax-qualified retirement plan.

ANNUITY SERVICE CENTER

As specified on the Contract Data Page.

ANNUITY DATE

The date on which annuity payments ("income payments") to the Payee begin. This
date cannot be later than the Latest Annuity Date.

ANNUITY UNIT

A unit of measurement used to compute annuity payments from the Subaccounts.

BENEFICIARY

The Beneficiary is as named by You unless later changed by You in a written
request to Us at Our Annuity Service Center.

CONTINUATION DATE

The Date on which We receive, at Our Annuity Service Center: (a) the Spousal
Beneficiary's written request to continue the Contract inforce, and (b) Due
Proof of Death of the Owner. If We receive (a) and (b) on different dates, the
Continuation Date will be the later date.

CONTRACT DATE

The date Your Contract is issued, as shown on the Contract Data Page. It is the
date from which Contract Years and anniversaries are measured.

CONTRACT VALUE

The sum of: (1) Your share of the Subaccounts' Accumulation Unit values and (2)
the value of amounts allocated to the Fixed Account Options.

CONTRACT YEAR

One year starting from the Contract Date in one calendar year and ending on the
day preceding the anniversary of such date in the succeeding calendar years.



                                       5
<PAGE>

CURRENT INTEREST RATE

The rate(s) of interest declared by Us applicable to allocations of Subsequent
Purchase Payments to the Fixed Account Options. The Current Interest Rate will
not be less than the Minimum Guaranteed Rate as shown on the Contract Data Page.

DOLLAR COST AVERAGING PROGRAM (DCA)

An optional program under which You authorize the automatic transfer of
specified amounts or percentages from the DCA Fixed Account Option(s), the
1-Year Fixed Account Option or any Subaccount(s) into any Subaccount(s) other
than the source account. Any portion of a Purchase Payment allocated to the DCA
Fixed Account Option(s) must be transferred out within the specified DCA Fixed
Account Option Period. Upon termination of a DCA Program or annuitization, any
amounts remaining in the DCA Fixed Account Options will be transferred to the
1-Year Fixed Account Option. The unit values credited and applied to Your
Contract are determined on each date of transfer.

FIXED ACCOUNT OPTIONS

The investment options under this Contract that are credited with a fixed rate
of interest declared by the Company. All amounts allocated to the Fixed Account
Options become part of the Company's general asset account. The general asset
account contains all the assets of the Company except for the Separate Account
and other segregated asset accounts. The Fixed Account Options for this Contract
are shown on page 4.

FIXED ANNUITY

A series of periodic annuity payments of predetermined amounts that do not vary
with investment experience. Such payments are made from the Company's general
asset account.

GUARANTEE PERIOD

The period for which either the Initial Interest Rate, the Current Interest Rate
or the Renewal Interest Rate is credited to the amounts allocated to the Fixed
Account Options.

INITIAL INTEREST RATE

The rate(s) of interest credited to any portion of the Initial Purchase Payment
allocated to the Fixed Account Option(s), as described in the Accumulation
Provisions section. The Initial Interest Rate(s) for this Contract is/are listed
on page 4. The Initial Interest Rate(s) may not be less than the Minimum
Guaranteed Rate as shown on the Contract Data Page.

IRC

The Internal Revenue Code of 1986 as amended or as it may be amended or
superseded.

JOINT OWNER

If Joint Owners are named, they must be spouses. Each Joint Owner has an equal
ownership interest in the Contract unless We are advised otherwise in writing.

NYSE

New York Stock Exchange



                                       6
<PAGE>

OWNER

The person or entity named in the Contract who is entitled to exercise all
rights and privileges of ownership under the Contract. Owner means both Joint
Owners if applicable.

PAYEE

The person receiving payment of annuity benefits under this Contract.

PURCHASE PAYMENTS

Payments in U.S. currency made by or on behalf of the Owner to the Company for
the Contract.

RENEWAL INTEREST RATE

The rate(s) of interest declared by Us applicable to transfers from the
Subaccount(s) and/or Fixed Account Option(s) into any of the Fixed Account
Options and to amounts previously allocated to a Fixed Account Option wherein
the Guarantee Period has expired. The Renewal Interest Rate(s) may not be less
than the Minimum Guarantee Rate as shown on the Contract Data Page.

SEPARATE ACCOUNT

The segregated asset account named on the Contract Data Page. The Separate
Account consists of several Subaccounts each investing in shares of the
Underlying Fund(s) of the trust(s). The assets of the Separate Account are not
commingled with the general assets and liabilities of the Company. Each
Subaccount is not chargeable with liabilities arising out of any other
Subaccount. The value of amounts allocated to the Subaccounts of the Separate
Account is not guaranteed.

SPECIFIED ANNUITY DATE

The anticipated Annuity Date specified by You as shown on the Contract Data
Page. This date may be changed by You in writing prior to the Annuity Date, but
in no event can it be later than the Latest Annuity Date. If this date is not
specified, it will be the Latest Annuity Date.

SPOUSAL BENEFICIARY

The deceased Owner's surviving spouse who is designated as the primary
Beneficiary and has the option to continue the Contract as the Owner on the
Continuation Date.

SUBACCOUNT

One or more divisions of the Separate Account, which provides for the variable
investment options available under this Contract. Each Subaccount has its own
investment objective and is invested in the Underlying Fund(s) of the trust(s).
A Subaccount is not chargeable with liabilities arising out of any other
Subaccount. The available Subaccounts are shown on page 4. Additional
Subaccounts may become available in the future.

SUBSEQUENT PURCHASE PAYMENTS

Purchase Payments made subsequent to the Initial Purchase Payment.

TOTAL INVESTED AMOUNT

The sum of all Purchase Payments less amounts previously withdrawn that incurred
a Withdrawal Charge, less Purchase Payments withdrawn that were no longer
subject to a Withdrawal Charge.

UNDERLYING FUND

The variable investment options in which the corresponding Subaccount(s) invest.



                                       7
<PAGE>

VARIABLE ANNUITY

A series of periodic annuity payments, which vary in amount according to the
investment experience of one or more Subaccounts, as selected by You.

WE, OUR, US, THE COMPANY

Anchor National Life Insurance Company.

YOU, YOUR

The Owner.

                           PURCHASE PAYMENT PROVISIONS

PURCHASE PAYMENTS

Purchase Payments are flexible. This means that, subject to Company declared
minimums and maximums, You may change the amounts, frequency and/or timing of
Purchase Payments. Purchase Payments will be allocated to the Fixed Account
Option(s) and/or one or more Subaccounts in accordance with instructions from
You. We reserve the right to specify the minimum Purchase Payment that may be
allocated to a Subaccount or a Fixed Account Option under the Contract.

SUBSTITUTION OF INVESTMENT PORTFOLIOS

If: (a) the shares of the underlying investment portfolios in which the
Subaccounts invest should no longer be available for investment by the Separate
Account; or (b) in the judgement of the Board of Trustees, further investment in
the shares of an investment portfolio is no longer appropriate in view of the
purpose of the Contract, then We may substitute shares of another underlying
investment series for shares already purchased, or to be purchased in the future
by Purchase Payments under the Contract. No substitution of securities may take
place without prior approval from the Securities and Exchange Commission and
under such requirements as it may impose.

                             ACCUMULATION PROVISIONS

SEPARATE ACCOUNT ACCUMULATION VALUE

The Separate Account Accumulation Value under the Contract shall be the sum of
the values of the Accumulation Units held in the Subaccounts for the Owner.

NUMBER OF ACCUMULATION UNITS

Your Contract is credited with Accumulation Units of the Separate Account when
amounts are allocated to the Subaccounts. For that portion of each Purchase
Payment and/or transfer amount allocated to a Subaccount, the number of
Accumulation Units credited is equal to the sum of each Purchase Payment and/or
transfer amount allocated to that Subaccount, reduced by premium taxes, if any:

Divided by

The Accumulation Unit value for that Subaccount for the NYSE business day on
which the Purchase Payment or transfer amount is allocated.



                                       8
<PAGE>

The number of Accumulation Units will be reduced for withdrawals of Contract
Value, annuitizations, amounts transferred out of a Subaccount, and the Contract
Administration Charge. Reductions will be made as of the end of the NYSE
business day in which We receive all requirements for the transaction, as
appropriate.

ACCUMULATION UNIT VALUE (AUV)

The AUV of a Subaccount for any NYSE business day is calculated by subtracting
(2) from (1) and dividing the result by (3) where:

(1)    is the total value at the end of the given NYSE business day of the
       assets attributable to the Accumulation Units of the Subaccount minus the
       total liabilities;

(2)    is the cumulative unpaid charge for assumption of Expense Risk,
       Distribution Expense and Mortality Risk charges (See CHARGES AND
       DEDUCTIONS);

(3)    is the number of Accumulation Units outstanding at the end of the given
       NYSE business day.

FIXED ACCOUNT ACCUMULATION VALUE

Under a Contract, the Fixed Account Accumulation Value shall be the sum of all
monies allocated or transferred to the Fixed Account Option(s), reduced by any
applicable premium taxes, plus all interest credited to the Fixed Account
Option(s) during the period that the Contract has been in effect. This amount
shall be adjusted for withdrawals (which includes any applicable charges
associated with such withdrawals), annuitizations, transfers, any applicable MVA
on such transactions, and the Contract Administration Charge. The Fixed Account
Accumulation Value shall not be less than the minimum values required by law in
the state where this Contract is issued.

FIXED ACCOUNT GUARANTEE PERIOD OPTIONS AND INTEREST CREDITING

Any amounts allocated to the Fixed Account Options from the Initial Purchase
Payment will earn interest at the Initial Interest Rate for the Fixed Account
Option(s) selected for the duration of the Guarantee Period.

Subsequent Purchase Payments, if any, allocated to the Fixed Account Options
will earn interest at the Current Interest Rate for the Fixed Account Option(s)
selected for the duration of the Guarantee Period.

Transfers to the Fixed Account Options and amounts renewing in the Fixed Account
Options will earn interest at the Renewal Interest Rate for the Fixed Account
Option(s) selected for the duration of the Guarantee Period.

For thirty (30) days following the date of expiration of a Guarantee Period, You
may renew for the same or any other Guarantee Period at the Renewal Interest
Rate or You may transfer all or a portion of the amount to the Subaccount(s)
and/or Fixed Account Option(s). If You do not specify a Guarantee Period at the
time of renewal, We will select the same Guarantee Period as has just expired,
crediting the Contract with the Renewal Interest Rate in effect on the date of
expiration of the Guarantee Period, so long as such Guarantee Period does not
extend beyond the Annuity Date. If a renewal occurs within one year of the
Annuity Date, We will credit interest up to the Annuity Date at the Renewal
Interest Rate for the 1-Year Fixed Account Option.

If You are participating in the DCA program, Purchase Payments may be allocated
to the DCA Fixed Account Option(s) or the 1-Year Fixed Account Option. Upon
termination of the DCA program, any amounts remaining in the DCA Fixed Account
Option(s) will be automatically transferred to the 1-Year Fixed Account Option.
Such amounts will earn interest at the Renewal Interest Rate for the 1-Year
Fixed Account Option.



                                       9
<PAGE>

MARKET VALUE ADJUSTMENT (MVA)

Any payments and values based on a Fixed MVA Account Option may be subject to an
MVA, the operation of which may result in upward or downward adjustments in the
Contract Value, if withdrawn, transferred or annuitized prior to the end of the
respective Guarantee Period. The MVA will be calculated by multiplying the
amount withdrawn, transferred or annuitized from a Fixed MVA Account Option by
the formula described below:

        {(1 + I)/(1+J+0.0050)}(N/12)-1

I = The interest rate currently in effect for that Guarantee Period.

J = The Initial Interest Rate available for the Guarantee Period equal to the
number of years (rounded up to an integer) remaining in the current Guarantee
Period at the time of withdrawal, transfer or annuitization. In the
determination of J, if the Company currently does not offer the applicable
Guarantee Period, then the rate will be determined by linear interpolation of
the Initial Interest Rate for the nearest two Guarantee Periods that are
available.

N = The number of full months remaining in the current Guarantee Period at the
time the withdrawal, transfer or annuitization request is processed.

If a Withdrawal Charge is applied to a withdrawal, then the MVA will be applied
to the withdrawal amount net of the Withdrawal Charge.

There will be no MVA on withdrawals from a Fixed MVA Account Option in the
following situations: (1) to pay a Death Benefit upon death of the Owner; (2) on
amounts withdrawn to pay fees or charges in the Contract; (3) on amounts
withdrawn or transferred from any of the Fixed Account Option within thirty (30)
days after the end of the Guarantee Period; (4) on annuitizations on the Latest
Annuity Date; (5) on amounts withdrawn from the 1-Year Fixed Account Option or
the DCA Fixed Account Options.



                                       10
<PAGE>

                             CHARGES AND DEDUCTIONS

We will deduct the following charges from the Contract:

CONTRACT ADMINISTRATION CHARGE

The charge specified on the Contract Data Page will be deducted on each Contract
anniversary that occurs on or prior to the Annuity Date. It will also be
deducted when the Contract Value is withdrawn in full if withdrawal is not on
the Contract anniversary. We reserve the right to assess a charge on a class
basis, which is less than the charge specified on the Contract Data Page. This
charge is not deducted when the Contract Value is greater than [$50,000].

WITHDRAWAL CHARGE

This charge may be deducted upon withdrawal of any portion of the Contract
Value. See WITHDRAWAL PROVISIONS.

MORTALITY RISK CHARGE

This charge, as shown on the Contract Data Page, on an annualized basis equals a
percentage of the average daily ending value of the assets attributable to the
Accumulation Units of the Subaccounts to which the Contract is allocated. We
subtract this charge daily. This charge is to compensate Us for assuming the
mortality risks under the Contract.

EXPENSE RISK CHARGE

This charge, as shown on the Contract Data Page, on an annualized basis equals a
percentage of the average daily ending value of the assets attributable to the
Accumulation Units of the Subaccounts to which the Contract is allocated. We
subtract this charge daily. This charge is to compensate Us for assuming the
expense risks under the Contract.

DISTRIBUTION EXPENSE CHARGE

This charge, as shown on the Contract Data Page, on an annualized basis equals a
percentage of the average daily ending value of the assets attributable to the
Accumulation Units of the Subaccounts to which the Contract is allocated. We
subtract this charge daily. This charge is to compensate Us for distribution
expenses associated with the Contract.

GUARANTEED DEATH BENEFIT RISK CHARGE

This charge, as shown on the Contract Data Page, on an annualized basis equals a
percentage of the average daily ending value of the assets attributable to the
Accumulation units of the Subaccounts to which the Contract is allocated. This
charge is to compensate Us for the risk assumed as a result of contractual
obligations to provide a minimum guaranteed Death Benefit prior to the Annuity
Date.



                                       11
<PAGE>

                               TRANSFER PROVISION

Prior to the Annuity Date, You may transfer all or part of Your Contract Value
from a Subaccount to any Subaccount or Fixed Account Option subject to certain
restrictions. We reserve the right to charge a fee for transfers if the number
of transfers exceeds the limit specified by Us. The minimum amount that can be
transferred and the amount that can remain in a Subaccount or a Fixed Account
Option are subject to Company limits.

TRANSFERS OF ACCUMULATION AND ANNUITY UNITS BETWEEN SUBACCOUNTS

Prior to and after the Annuity Date, You may transfer all or a portion of Your
Contract Value from one Subaccount to another Subaccount. Before the Annuity
Date, a transfer will result in the redemption of Accumulation Units in a
Subaccount and the purchase of Accumulation Units in the other Subaccount. After
the Annuity Date, a transfer will result in the redemption of Annuity Units in a
Subaccount and the purchase of Annuity Units in the other Subaccount(s).
Transfers will be effected at the end of the NYSE business day in which We
receive Your completed request for the transfer.

TRANSFERS OF ACCUMULATION UNITS TO AND FROM THE FIXED ACCOUNT

Prior to the Annuity Date, You may transfer all or any part of Your Contract
Value from the Subaccount(s)to any Fixed Account Option(s) other than the DCA
Fixed Account Options or from the Fixed Account Option(s) to the Subaccount(s)
and/or the Fixed Account Option(s) of the Contract. Transfers from the Fixed
Account Option(s) may be subject to a Market Value Adjustment as discussed in
the Market Value Adjustment Provision.

After the Annuity Date, transfers into or out of the Fixed Account Options are
not allowed.

                              WITHDRAWAL PROVISIONS

On or before the Annuity Date and while the Owner is living, You may withdraw
all or part of Your Contract Value under this Contract by informing Us at Our
Annuity Service Center. For a full withdrawal, this Contract must be returned to
Our Annuity Service Center. The minimum amount that can be withdrawn and the
amount remaining after withdrawal are subject to Company limits.

Without a written notice to the contrary, withdrawals will be deducted from the
Contract Value in proportion to their allocation among the Fixed Account Options
and the Subaccounts. Withdrawals will be based on values at the end of the NYSE
business day in which the request for withdrawal and the Contract (in the case
of a full withdrawal) are received at the Annuity Service Center. Unless the
SUSPENSION OF PAYMENTS or DEFERMENT OF PAYMENTS section is in effect, payment of
withdrawals will be made within seven calendar days.

WITHDRAWAL CHARGE

Withdrawals of all or a portion of the Contract Value may be subject to a
Withdrawal Charge as shown in the chart below. The Withdrawal Charge percentage
applied to any withdrawal will depend on how long the Purchase Payment to which
the withdrawal is attributed has been in the Contract. No Withdrawal Charge is
made on an amount withdrawn, which is considered to be a withdrawal of
penalty-free earnings.



For the purpose of determining the Withdrawal Charge, a withdrawal will be
attributed to amounts in the following order: (1) penalty-free earnings in the
Contract; (2) Purchase Payments which are both no longer subject to the
Withdrawal Charge and are not yet withdrawn; (3) any remaining Penalty-Free
Withdrawal amount (except in the case of a full surrender); and (4) Purchase
Payments subject to a



                                       12
<PAGE>

Withdrawal Charge. Purchase Payments, when withdrawn, are assumed to be
withdrawn on a first-in-first-out (FIFO) basis. You will not receive the benefit
of a Penalty-Free Withdrawal in a full surrender.

<TABLE>
<CAPTION>
     Number of Full Years Elapsed             Withdrawal Charge as a
Between Purchase Payment Contribution        Percentage of Withdrawn
        And Date of Withdrawal                   Purchase Payment
-------------------------------------        -----------------------
<S>                                          <C>
                  0                                     7%
                  1                                     6%
                  2                                     6%
                  3                                     0%
</TABLE>

The Withdrawal Charge will be assessed against the Subaccounts and the Fixed
Account Options in the same proportion that the remaining Contract Value is
allocated unless You request that the withdrawal come from a particular Fixed
Account Option or Subaccount. After a Withdrawal is taken, the remaining
Contract Value must be sufficient to cover any Withdrawal Charge remaining upon
full surrender of the Contract.

PENALTY-FREE WITHDRAWALS

As of any day, You may make a withdrawal of up to the Penalty-Free Withdrawal
amount for that day without incurring a Withdrawal Charge. Any Penalty-Free
Withdrawal made in excess of penalty-free earnings in the Contract is considered
to be a withdrawal of future penalty-free earnings and is therefore not a
withdrawal of the Total Invested Amount. On any day, penalty-free earnings in
the Contract are calculated as the Contract Value at the end of that day less
the Total Invested Amount.

During the first Contract Year, the Penalty-Free Withdrawal amount is equal to
the penalty-free earnings in the Contract as of the date of withdrawal.

Alternatively, during the first Contract Year, You may make withdrawals of the
Penalty-Free Withdrawal amount through the Systematic Withdrawal Program. The
Penalty-Free Withdrawal amount as of any systematic withdrawal date is 10% of
the Total Invested Amount less any withdrawals already made during the Contract
Year.

After the first Contract Year, the maximum Penalty-Free Withdrawal amount as of
the date of the withdrawal is the greater of:

(a)    penalty-free earnings in the Contract as of that date; or

(b)    10% of the Total Invested Amount on deposit for at least one year, less
       any withdrawals already made during the year.

Although amounts withdrawn free of a Withdrawal Charge may reduce principal,
they do not reduce the Total Invested Amount for purposes of calculating the
Withdrawal Charge or for the purposes of calculating penalty-free earnings in
the Contract. As a result, You will not receive the benefit of a Penalty-Free
Withdrawal in a full surrender.

SYSTEMATIC WITHDRAWAL PROGRAM

Prior to the Annuity Date, You may elect to participate in the Systematic
Withdrawal Program by informing Us at Our Annuity Service Center. The Systematic
Withdrawal Program allows You to make automatic withdrawals from Your account
monthly, quarterly, semiannually, or annually. The minimum systematic withdrawal
amount is subject to Company limits. Any amount withdrawn through the



                                       13
<PAGE>

Systematic Withdrawal Program may be subject to a Withdrawal Charge and/or a
Market Value Adjustment as discussed in the WITHDRAWAL CHARGE, PENALTY-FREE
WITHDRAWALS and MARKET VALUE ADJUSTMENT provisions. You may terminate Your
participation in the Systematic Withdrawal Program at any time by sending Us a
written request. We reserve the right to modify, suspend or terminate the
Systematic Withdrawal Program at any time.

Systematic withdrawals will be deducted from the Penalty-Free Withdrawal amount
available each Contract Year.

                               GENERAL PROVISIONS

ENTIRE CONTRACT

The entire contract between You and Us consists of the Application Form as
completed by You at the time of purchase, this Contract and any attached
endorsement(s). An agent cannot change the terms or conditions of this Contract.
Any change must be in writing and approved by Us. Only Our President, Secretary,
or one of Our Vice-Presidents can give Our approval.

CHANGE OF ANNUITANT

If the Owner is an individual, the Owner may change the Annuitant at any time
prior to the Annuity Date. To make a change, the Owner must send a written
notice to Us at least 30 days before the Annuity Date. If the Owner is not an
individual, the Owner may not change the Annuitant.

DEATH OF ANNUITANT

If the Owner and Annuitant are different and the Annuitant dies before the
Annuity Date, the Owner becomes the Annuitant until such time as the Owner
elects a new Annuitant. If there are Joint Annuitants, upon the death of any
Annuitant prior to the Annuity Date, the Owner may elect a new Joint Annuitant.
However, if the Owner is a non-natural person, We will treat the death of any
Annuitant as the death of the "primary Annuitant" and as the death of the Owner,
see DEATH PROVISIONS.

MISSTATEMENT OF AGE OR SEX

If the Age or sex of any Annuitant has been misstated, future annuity payments
will be adjusted using the correct Age and sex, according to Our rates in effect
on the date that annuity payments were determined. Any overpayment from the
Fixed Annuity Payment Options, plus interest at the rate of 4% per year, will be
deducted from the next payment(s) due. Any underpayment from the Fixed Annuity
Payment Options, plus interest at the rate of 4% per year, will be paid in full
with the next payment due. Any overpayment from the Subaccounts will be deducted
from the next payment(s) due. Any underpayment from the Subaccounts will be paid
in full with the next payment due.

PROOF OF AGE, SEX, OR SURVIVAL

The Company may require satisfactory proof of correct Age or sex at any time. If
any payment under this Contract depends on the Annuitant being alive, the
Company may require satisfactory proof of survival.



                                       14
<PAGE>

DEFERMENT OF PAYMENTS

We may defer making payments from the Fixed Account Options for up to six (6)
months. Interest, subject to state requirements, will be credited during the
deferral period.

SUSPENSION OF PAYMENTS

We may suspend or postpone any payments from the Subaccounts if any of the
following occur:

(a)    the NYSE is closed;

(b)    trading on the NYSE is restricted;

(c)    an emergency exists such that it is not reasonably practical to dispose
       of or determine the value of the assets held in a Subaccount; or

(d)    the Securities and Exchange Commission, by order, so permits for the
       protection of Owners.

Conditions in (b) and (c) will be decided by or in accordance with rules of the
Securities and Exchange Commission.

CONFORMITY WITH STATE LAWS

The provisions of this Contract will be interpreted by the laws of the state in
which the Application Form was signed or such other state as is required by law.
Any provision which, on the Contract Date, is in conflict with the law of such
state is amended to conform to the minimum requirements of such law.

CHANGES IN LAW

If the laws governing this Contract or the taxation of benefits under the
Contract change, We reserve the right to amend this Contract to comply with
these changes.

ASSIGNMENT

You may assign this Contract before the Annuity Date, but We will not be bound
by an assignment unless it is received by Us in writing. Your rights and those
of any other person referred to in this Contract will be subject to the
assignment. Certain assignments may be taxable. We do not assume any
responsibility for the validity or tax consequences of any assignment.

CLAIMS OF CREDITORS

To the extent permitted by law, no rights or proceeds payable under this
Contract will be subject to claims of creditors or legal process.

PREMIUM TAXES AND OTHER TAXES

The Company may deduct from Your Contract Value any premium tax and/or other
taxes payable to a state or other government entity, if applicable. Should We
advance any amount so due, We are not waiving any right to collect such amount
at a later date. The Company will deduct any withholding taxes required by
applicable law.

WRITTEN NOTICE

Any notice We send to You will be sent to Your address shown in the Application
Form unless You request otherwise. Any written request or notice to Us must be
sent to Our Annuity Service Center, at the address specified on the Contract
Data Page.

PERIODIC REPORTS



                                       15
<PAGE>

During each Contract Year, We will send You quarterly statements of the account
activity of the Contract as well as confirmation reports after each financial
transaction. The statement will include all transactions which have occurred
during the quarterly accounting period shown on the statement.

INCONTESTABILITY

This Contract will be incontestable from the Contract Date.

NONPARTICIPATING

This Contract does not share in Our surplus.

                                DEATH PROVISIONS

Notwithstanding any provision of this Contract to the contrary, all payments of
benefits under this Contract will be made in a manner that satisfies the
requirements of IRC Section 72(s), as amended from time to time. If the Contract
is owned by a trust or other non-natural person, We will treat the death of any
Annuitant as the death of the "Primary Annuitant", as defined in IRC Section
72(s)(6), as the death of any Owner.

DUE PROOF OF DEATH

Due Proof of Death means:

              1.     a certified copy of a death certificate; or

              2.     a certified copy of a decree of a court of competent
                     jurisdiction as to the finding of death; or

              3.     a written statement by a medical doctor who attended the
                     deceased Owner at the time of death; or

              4.     any other proof satisfactory to Us.

DEATH OF OWNER BEFORE THE ANNUITY DATE

We will pay a death benefit to the Beneficiary upon Our receiving: (a) due proof
that the Owner died before the Annuity Date, (b) an election form specifying the
payment option and (c) any other documentation We may require. Unless You have
previously designated a payment option on behalf of the Beneficiary, the
Beneficiary must select one of the following payment options:

1.     Immediately collect the death benefit in a lump sum. If a lump sum
       payment is elected, payment will be in accordance with any applicable
       laws and regulations governing payments and death; or

2.     Collect the death benefit in the form of one of the Annuity Payment
       Options. If an Annuity Payment Option is desired, an option must be
       elected within 60 days of Our receipt of: (a) Due Proof of Death of the
       Owner; (b) an election form specifying the payment option and (c) any
       other documentation We may require. The payments must be over the life of
       the Beneficiary or over a period not extending beyond the life expectancy
       of the Beneficiary. Payments under this death benefit option must
       commence within one year after the Owner's death, otherwise, the death
       benefit will be paid in accordance with death benefit option 1; or

3.     If eligible, continue the Contract as a Spousal Beneficiary. On the
       Continuation Date, We will contribute to the Contract any amount by which
       the Death Benefit exceeds the Contract Value, calculated as of the
       Owner's date of death. This amount is not considered a Purchase Payment.
       If an amount is contributed by Us to the Contract on the Continuation
       Date, then upon death of the Spousal Beneficiary the subsequent death
       benefit will be calculated as if the Contract was issued to



                                       16
<PAGE>

       the Spousal Beneficiary on the Continuation Date. Otherwise, the death
       benefit payable upon death of the Spousal Beneficiary will be calculated
       as if the Contract was issued to the Spousal Beneficiary on the original
       Contract Date.

       You cannot change any elected death benefit option specified on the
       Contract Data Page. Your Spousal Beneficiary may discontinue the death
       benefit option on the Continuation Date but cannot change the elected
       death benefit option. Upon the Spousal Beneficiary's death, the entire
       interest of the Contract must be distributed immediately under option 1
       or 2 as provided under DEATH OF OWNER BEFORE THE ANNUITY DATE.

In any event, the entire interest in the Contract will be distributed within
five years from the date of death of the Owner unless payment option 2 or 3 as
provided under DEATH OF OWNER BEFORE THE ANNUITY DATE.

AMOUNT OF DEATH BENEFIT

Before You attain age 75 the amount of death benefit is equal to the greater of:

       1.      the Contract Value at the end of the NYSE business day during
               which We receive at Our Annuity Service Center the required due
               proof of the Owner's death and an election of the type of payment
               to be made; or

       2.      Purchase Payments, reduced for partial withdrawals (including any
               charges applicable to such withdrawals) in the same proportion
               that the Contract Value was reduced on the date of any such
               withdrawals, compounded until the date of death at 3% interest,
               plus any Purchase Payments recorded after the date of death. This
               amount is further reduced for partial withdrawals recorded after
               the date of death (including any charges applicable to such
               withdrawals) in the same proportion that the Contract Value was
               reduced on the date of any such withdrawals.

After You attain age 75 the amount of death benefit is equal to the greater of:

       1.      the Contract Value at the end of the NYSE business day during
               which We receive at Our Annuity Service Center required due proof
               of the Owner's death and an election of the type of payment to be
               made; or

       2.      Purchase Payments reduced for partial withdrawals (including any
               charges applicable to such withdrawals) in the same proportion
               that the Contract Value was reduced on the date of any such
               withdrawals, compounded until the attainment of age 75 at 3%
               interest, plus any Purchase Payments recorded after the
               attainment of age 75. This amount is further reduced for partial
               withdrawals recorded after the attainment of age 75 (including
               any charges applicable to such withdrawals) in the same
               proportion that the Contract Value was reduced on the date of any
               such withdrawals.

DEATH OF OWNER OR ANNUITANT ON OR AFTER THE ANNUITY DATE

If the Owner or Annuitant dies on or after the Annuity Date and before the
entire interest in the Contract has been distributed, We will pay the remaining
portion of the interest of the Contract as under the Annuity Payment Option
being distributed on the date of death upon our receipt of Due Proof of Death.
For further information pertaining to death of the Annuitant, see ANNUITY
PAYMENT OPTIONS.

BENEFICIARY



                                       17
<PAGE>

The Beneficiary is selected by the Owner. While (a) the Owner is living; and (b)
before the Annuity Date, the Owner may change the Beneficiary by written notice
in a form satisfactory to Us. A change in Beneficiary will take effect on the
date the notice of change was signed. Such change, however, will not apply to
any payment or action taken by Us before the notice was received at Our Annuity
Service Center. If two or more persons are named, (a) those surviving the Owner
will share equally unless otherwise stated; and (b) the Beneficiaries must elect
to receive their respective portions of the death benefit according to the
options listed under DEATH OF OWNER BEFORE THE ANNUITY DATE. If the Annuitant
survives the Owner, and there are no surviving Beneficiaries, the Annuitant will
be deemed the Beneficiary.

Joint Owners, if applicable, shall be each other's primary Beneficiary. Joint
Annuitants, if any, when the Owner is a non-natural person, shall be each
other's primary Beneficiary. Any other Beneficiary designated will be treated as
a contingent Beneficiary.

If the Owner is also the Annuitant and there are no surviving Beneficiaries upon
death of the Owner, the death benefit will be paid to the estate of the Owner in
accordance with option 1 under DEATH OF OWNER BEFORE THE ANNUITY DATE.

                               ANNUITY PROVISIONS

ANNUITY DATE

The Owner specifies an anticipated Annuity Date (the date on which annuity
payments are to begin). The date provided by the Owner to Us at the time of
application is shown on the Contract Data Page as the Specified Annuity Date.
The Owner may change the Specified Annuity Date at any time, at least seven days
prior to the Annuity Date, by written notice to the Company at its Annuity
Service Center. The Annuity Date must always be the first day of the calendar
month and must be at least two years after the Contract Date, but not beyond the
later of the Owner's 95th birthday or ten years after the Contract Date. If the
Owner is a non-natural person, the latest Annuity Date is the later of the
Annuitant's 95th birthday or ten years after the Contract Date. If no Annuity
Date is specified, the Annuity Date will be the Latest Annuity Date, as set by
the Company.

PAYMENTS TO OWNER

Unless You request otherwise, We will make annuity payments to You. If You want
the annuity payments to be made to some other Payee, We will make such payments
subject to receipt of a written request filed at the Annuity Service Center no
later than thirty (30) days before the due date of the first annuity payment.

Any such request is subject to the rights of any assignee. No payments available
to or being paid to the Payee while the Annuitant is alive can be transferred,
commuted, anticipated or encumbered.

FIXED ANNUITY PAYMENTS

If a Fixed Annuity payment option has been elected, the proceeds payable under
this Contract less any applicable premium taxes, shall be applied to the payment
of the Fixed Annuity payment option elected at rates which are at least equal to
the annuity rates based upon the applicable tables in the Contract. In no event
will the Fixed Annuity payments be changed once they begin.

AMOUNT OF FIXED ANNUITY PAYMENTS

The amount of each Fixed Annuity payment will be determined by applying the
portion of the Contract Value allocated to Fixed Account Options less any
applicable premium taxes to the annuity table applicable to the Fixed Annuity
payment option chosen.



                                       18
<PAGE>

AMOUNT OF VARIABLE ANNUITY PAYMENTS

(a)    FIRST VARIABLE ANNUITY PAYMENT: The dollar amount of the first Variable
       Annuity payment will be determined by applying the portion of the
       Contract Value allocated to the Subaccount, less any applicable premium
       taxes, to rates which are at least equal to the annuity rates based upon
       the annuity table applicable to the Variable Annuity payment option
       chosen. If the Contract Value is allocated to more than one Subaccount,
       the value of Your interest in each Subaccount is applied separately to
       the Variable Annuity payment option table to determine the amount of the
       first annuity payment attributable to each Subaccount.

(b)    NUMBER OF VARIABLE ANNUITY UNITS: The number of Annuity Units for each
       applicable Subaccount is the amount of the first annuity payment
       attributable to that Subaccount divided by the value of the applicable
       Annuity Unit for that Subaccount as of the Annuity Date. The number will
       not change as a result of investment experience.

(c)    VALUE OF EACH VARIABLE ANNUITY UNIT: The value of an Annuity Unit may
       increase or decrease from one month to the next. For any month, the value
       of an Annuity Unit of a particular Subaccount is the value of that
       Annuity Unit as of the last NYSE business day of the preceding month,
       multiplied by the Net Investment Factor for that Subaccount for the last
       NYSE business day of the current month.

The Net Investment Factor for any Subaccount for a certain month is determined
by dividing (1) by (2) where:

              (1)    the Accumulation Unit Value of the Subaccount determined as
                     of the last business day at the end of that month;

              (2)    the Accumulation Unit Value of the Subaccount determined as
                     of the last business day at the end of the preceding month.

The result is then multiplied by a factor that neutralizes the assumed
investment rate of 3.5%.

(d)    SUBSEQUENT VARIABLE ANNUITY PAYMENTS: After the first Variable Annuity
       payment, payments will vary in amount according to the investment
       performance of the applicable Subaccount(s) to which Your Purchase
       Payments are allocated. The amount may change from month to month. The
       amount of each subsequent payment for each Subaccount is:

The number of Annuity Units for each Subaccount as determined for the first
annuity payment



Multiplied by

The value of an Annuity Unit for that Subaccount at the end of the month
immediately preceding the month in which payment is due.

We guarantee that the amount of each Variable Annuity payment will not be
affected by variations in expenses or mortality experience.



                                       19
<PAGE>

                             ANNUITY PAYMENT OPTIONS

During the Annuitant's life, upon written election and the return of this
Contract to the Company at its Annuity Service Center, the Contract Value may be
applied to provide one of the following options or any annuity payment option
that is mutually agreeable. After two years from the Contract Date, and prior to
the Annuity Date, You can choose one of the options described below. If no
option has been elected by the Annuity Date, You will automatically receive
Option 4 below with 120 monthly payments guaranteed.

OPTIONS 1 & 1v - LIFE ANNUITY, LIFETIME MONTHLY PAYMENTS GUARANTEED

Payments payable to a Payee during the lifetime of the Annuitant. No further
payments are payable after the death of the Annuitant.

OPTIONS 2 & 2v - JOINT AND SURVIVOR LIFE ANNUITY

Payments payable to the Payee during the lifetime of the Annuitant and during
the lifetime of a designated second person. No further payments are payable
after the deaths of both the Annuitant and the designated second person.

OPTIONS 3 & 3v - JOINT AND SURVIVOR LIFE ANNUITY - 120 OR 240 MONTHLY PAYMENTS
GUARANTEED

Payments are payable to the Payee during the lifetime of the Annuitant and
during the lifetime of a designated second person. If, at the death of the
survivor, payments have been made for less than 120 or 240 monthly periods, the
remaining guaranteed annuity payments will be continued to the Beneficiary.

OPTIONS 4 & 4v - LIFE ANNUITY WITH 120 OR 240 MONTHLY PAYMENTS GUARANTEED

Payments payable to the Payee during the lifetime of the Annuitant. If, at the
death of the Annuitant, payments have been made for less than the 120 or 240
monthly periods, as selected at the time of annuitization, the remaining
guaranteed annuity payments will be continued to the Beneficiary.

OPTIONS 5 & 5v - FIXED PAYMENTS FOR A SPECIFIED PERIOD CERTAIN

Payments are payable to the Payee for any specified period of time of five (5)
years or more, but not exceeding thirty (30) years, as selected at the time of
annuitization. The selection must be made for full twelve-month periods. In the
event of death of the Annuitant, any remaining annuity payments will be
continued to the Beneficiary. If Variable Annuity Payments are elected under
this Annuity Payment Option, any remaining guaranteed Variable Annuity payments
may be redeemed for a discounted value determined by Us. Any applicable
Withdrawal Charges will be deducted from the discounted value as if You fully
surrendered Your Contract.



                                       20
<PAGE>

                       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. 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)
-----------         -------------------         -------------------         -------------------
                    MALE         FEMALE         MALE         FEMALE         MALE         FEMALE
                    ----         ------         ----         ------         ----         ------
<S>                 <C>          <C>            <C>          <C>            <C>          <C>
        55          4.23          3.84          4.19          3.82          4.05          3.76
        56          4.32          3.91          4.27          3.88          4.11          3.81
        57          4.41          3.98          4.35          3.95          4.17          3.87
        58          4.51          4.05          4.44          4.02          4.24          3.93
        59          4.61          4.13          4.54          4.10          4.31          4.00
        60          4.72          4.22          4.64          4.18          4.37          4.06
        61          4.84          4.31          4.74          4.27          4.44          4.13
        62          4.96          4.40          4.85          4.36          4.51          4.20
        63          5.10          4.51          4.97          4.45          4.58          4.27
        64          5.24          4.62          5.10          4.55          4.65          4.35
        65          5.40          4.73          5.22          4.66          4.72          4.42
        66          5.56          4.86          5.36          4.78          4.79          4.50
        67          5.74          4.99          5.50          4.90          4.86          4.57
        68          5.93          5.14          5.65          5.02          4.92          4.65
        69          6.13          5.29          5.80          5.16          4.99          4.73
        70          6.35          5.46          5.96          5.30          5.05          4.80
        71          6.58          5.64          6.13          5.46          5.10          4.88
        72          6.82          5.84          6.29          5.62          5.16          4.95
        73          7.08          6.05          6.47          5.78          5.20          5.02
        74          7.36          6.28          6.64          5.96          5.25          5.08
        75          7.66          6.53          6.82          6.14          5.29          5.14
        76          7.98          6.80          7.00          6.33          5.33          5.19
        77          8.33          7.09          7.19          6.53          5.36          5.24
        78          8.69          7.41          7.37          6.73          5.39          5.29
        79          9.09          7.75          7.55          6.94          5.41          5.33
        80          9.51          8.11          7.73          7.14          5.43          5.36
        81          9.97          8.51          7.91          7.35          5.45          5.39
        82         10.45          8.94          8.08          7.55          5.47          5.42
        83         10.97          9.41          8.24          7.76          5.48          5.44
        84         11.52          9.92          8.40          7.95          5.49          5.46
        85         12.10         10.47          8.54          8.13          5.50          5.48
</TABLE>



                                       21
<PAGE>

              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
  MALE
ANNUITANT                                 AGE OF FEMALE ANNUITANT
---------          ----------------------------------------------------------------------
                    55         60         65         70         75         80         85
                   ----       ----       ----       ----       ----       ----       ----
<S>                <C>        <C>        <C>        <C>        <C>        <C>        <C>
       55          3.54       3.69       3.84       3.96       4.06       4.13       4.17
       60          3.63       3.83       4.04       4.23       4.39       4.52       4.60
       65          3.70       3.95       4.23       4.51       4.78       5.00       5.16
       70          3.75       4.04       4.39       4.78       5.18       5.56       5.85
       75          3.78       4.11       4.51       5.01       5.57       6.14       6.65
       80          3.81       4.15       4.60       5.18       5.89       6.70       7.52
       85          3.82       4.18       4.66       5.30       6.14       7.18       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
  MALE
ANNUITANT                                 AGE OF FEMALE ANNUITANT
---------          ----------------------------------------------------------------------
                    55         60         65         70         75         80         85
                   ----       ----       ----       ----       ----       ----       ----
<S>                <C>        <C>        <C>        <C>        <C>        <C>        <C>
       55          3.54       3.69       3.83       3.96       4.05       4.12       4.16
       60          3.63       3.83       4.03       4.22       4.38       4.50       4.57
       65          3.70       3.95       4.22       4.50       4.76       4.97       5.10
       70          3.75       4.04       4.38       4.76       5.15       5.48       5.72
       75          3.78       4.10       4.50       4.98       5.50       6.00       6.40
       80          3.80       4.14       4.58       5.13       5.78       6.46       7.04
       85          3.81       4.16       4.62       5.22       5.97       6.80       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
  MALE
ANNUITANT                                 AGE OF FEMALE ANNUITANT
---------          ----------------------------------------------------------------------
                    55         60         65         70         75         80         85
                   ----       ----       ----       ----       ----       ----       ----
<S>                <C>        <C>        <C>        <C>        <C>        <C>        <C>
       55          3.53       3.68       3.81       3.92       3.99       4.03       4.04
       60          3.62       3.81       4.00       4.16       4.27       4.34       4.37
       65          3.68       3.92       4.16       4.39       4.56       4.66       4.71
       70          3.72       3.99       4.29       4.58       4.81       4.96       5.03
       75          3.74       4.03       4.36       4.70       4.99       5.17       5.26
       80          3.75       4.05       4.40       4.77       5.09       5.30       5.40
       85          3.76       4.06       4.42       4.80       5.13       5.35       5.46
</TABLE>



                                       22
<PAGE>

              OPTION 5 - TABLE OF MONTHLY INSTALLMENTS PER $1,000.

<TABLE>
<CAPTION>
                         PAYMENTS FOR A SPECIFIED PERIOD
 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>



                                       23
<PAGE>

                     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. 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)
---------          -------------------          ------------------          ------------------
                   MALE         FEMALE          MALE        FEMALE          MALE        FEMALE
                   ----         ------          ----        ------          ----        ------
<S>                <C>          <C>             <C>         <C>             <C>         <C>
       55          4.53           4.13          4.48          4.11          4.33          4.05
       56          4.62           4.20          4.56          4.18          4.39          4.10
       57          4.71           4.27          4.64          4.24          4.45          4.16
       58          4.80           4.34          4.73          4.31          4.52          4.22
       59          4.90           4.42          4.82          4.39          4.58          4.28
       60          5.01           4.51          4.92          4.47          4.65          4.34
       61          5.13           4.60          5.03          4.55          4.71          4.41
       62          5.26           4.69          5.14          4.64          4.78          4.48
       63          5.39           4.80          5.25          4.74          4.85          4.55
       64          5.54           4.91          5.38          4.84          4.92          4.62
       65          5.69           5.02          5.51          4.94          4.99          4.69
       66          5.86           5.15          5.64          5.06          5.05          4.77
       67          6.03           5.28          5.78          5.18          5.12          4.84
       68          6.22           5.43          5.93          5.30          5.18          4.92
       69          6.43           5.58          6.08          5.44          5.24          4.99
       70          6.64           5.75          6.23          5.58          5.30          5.06
       71          6.87           5.93          6.40          5.73          5.36          5.14
       72          7.12           6.13          6.56          5.89          5.41          5.21
       73          7.38           6.34          6.73          6.06          5.46          5.27
       74          7.66           6.57          6.91          6.23          5.50          5.33
       75          7.96           6.82          7.09          6.41          5.54          5.39
       76          8.28           7.09          7.27          6.60          5.57          5.44
       77          8.63           7.38          7.45          6.79          5.61          5.49
       78          9.00           7.70          7.63          6.99          5.63          5.54
       79          9.40           8.04          7.81          7.19          5.66          5.58
       80          9.82           8.41          7.98          7.40          5.68          5.61
       81         10.28           8.81          8.16          7.60          5.70          5.64
       82         10.76           9.24          8.32          7.81          5.71          5.66
       83         11.28           9.71          8.48          8.00          5.72          5.69
       84         11.83          10.23          8.64          8.19          5.73          5.70
       85         12.42          10.78          8.78          8.38          5.74          5.72
</TABLE>



                                       24
<PAGE>

              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
  MALE
ANNUITANT                                 AGE OF FEMALE ANNUITANT
---------          ----------------------------------------------------------------------
                    55         60         65         70         75         80         85
                   ----       ----       ----       ----       ----       ----       ----
<S>                <C>        <C>        <C>        <C>        <C>        <C>        <C>
       55          3.83      3.98        4.12       4.24       4.34       4.42       4.46
       60          3.92      4.11        4.32       4.51       4.67       4.80       4.89
       65          3.99      4.23        4.50       4.79       5.05       5.28       5.44
       70          4.04      4.33        4.67       5.05       5.46       5.83       6.13
       75          4.07      4.39        4.79       5.28       5.84       6.41       6.93
       80          4.10      4.44        4.88       5.45       6.16       6.97       7.79
       85          4.11      4.47        4.94       5.57       6.41       7.45       8.61
</TABLE>

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

<TABLE>
<CAPTION>
 AGE OF
  MALE
ANNUITANT                                 AGE OF FEMALE ANNUITANT
---------        --------------------------------------------------------------------------
                  55          60          65         70          75         80          85
                 ----        ----        ----       ----        ----       ----        ----
<S>              <C>         <C>         <C>        <C>         <C>        <C>         <C>
       55        3.83        3.98        4.12       4.24        4.34       4.40        4.45
       60        3.92        4.11        4.31       4.50        4.66       4.78        4.86
       65        3.99        4.23        4.50       4.78        5.03       5.24        5.38
       70        4.04        4.32        4.66       5.03        5.41       5.75        5.99
       75        4.07        4.38        4.78       5.25        5.77       6.26        6.66
       80        4.09        4.43        4.86       5.40        6.05       6.72        7.29
       85        4.10        4.45        4.90       5.50        6.24       7.05        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
  MALE
ANNUITANT                                 AGE OF FEMALE ANNUITANT
---------          ----------------------------------------------------------------------
                    55         60         65         70         75         80         85
                   ----       ----       ----       ----       ----       ----       ----
<S>                <C>        <C>        <C>        <C>        <C>        <C>        <C>
       55          3.82       3.97       4.10       4.20       4.27       4.31       4.33
       60          3.91       4.09       4.28       4.44       4.55       4.61       4.64
       65          3.97       4.20       4.44       4.66       4.83       4.93       4.97
       70          4.01       4.27       4.56       4.84       5.07       5.21       5.28
       75          4.03       4.31       4.64       4.97       5.25       5.42       5.51
       80          4.04       4.33       4.67       5.03       5.34       5.55       5.65
       85          4.05       4.34       4.69       5.06       5.38       5.60       5.70
</TABLE>



                                       25
<PAGE>

              OPTION 5v - TABLE OF MONTHLY INSTALLMENTS PER $1,000.

<TABLE>
<CAPTION>
                              PAYMENTS FOR A SPECIFIED PERIOD
 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>
















                     ANCHOR NATIONAL LIFE INSURANCE COMPANY

                     A STOCK COMPANY LOS ANGELES, CALIFORNIA



                                       26
<PAGE>













                              INDIVIDUAL FIXED AND
                            VARIABLE ANNUITY CONTRACT
                                Nonparticipating



                                       27
<PAGE>

                           PURCHASE PAYMENT ALLOCATION

                                   Subaccounts

                                   STRATEGIES

<TABLE>
                 <S>        <C>
                 80.00%     Growth Strategy
                  0.00%     Moderate Growth Strategy
                  0.00%     Balanced Growth Strategy
                  0.00%     Conservative Growth Strategy
</TABLE>

                                      PORTFOLIOS

<TABLE>
                 <S>        <C>
                  0.00%     Large Cap Growth Portfolio
                  0.00%     Large Cap Composite Portfolio
                  0.00%     Large Cap Value Portfolio
                  0.00%     Mid Cap Growth Portfolio
                  0.00%     Mid Cap Value Portfolio
                  0.00%     Small Cap Portfolio
                  0.00%     International Equity Portfolio
                  0.00%     Diversified Fixed Income Portfolio
                  0.00%     Cash Management Portfolio
</TABLE>

                                  FOCUSED PORTFOLIOS

<TABLE>
                 <S>        <C>
                  0.00%     Focus Growth Portfolio
                  0.00%     Focus Growth and Income Portfolio
                  0.00%     Focus Value Portfolio
                  0.00%     Focus TechNet Portfolio
</TABLE>

                              Fixed Account Options
                              ---------------------

<TABLE>
<CAPTION>
                            Guarantee                        Initial
                             Period                       Interest Rate
                            ---------                     -------------
                 <S>        <C>                           <C>
                 20.00%     3-Year Fixed MVA                   3.00%
</TABLE>

<TABLE>
<CAPTION>
                      DCA Fixed Account Options
                      -------------------------
                 <S>        <C>
                  0.00%     6-Month DCA Fixed Non-MVA
                  0.00%     1-Year DCA Fixed Non-MVA
</TABLE>



                                       4
<PAGE>

                     ANCHOR NATIONAL LIFE INSURANCE COMPANY

                                   ENDORSEMENT

This endorsement forms a part of the Contract to which it is attached.

The 1-Year Fixed Account Option is not available as an investment option under
this Contract and all references to the 1-Year Fixed Account Option are hereby
deleted. The Contract is also endorsed as follows to reflect this modification:

1. The definition of "DOLLAR COST AVERAGING PROGRAM (DCA)" is modified to: "An
optional program under which You authorize the automatic transfer of specified
amounts or percentages from the DCA Fixed Account Option(s) or any
[Subaccount(s) or Variable Portfolio(s)] into any [Subaccount(s) or Variable
Portfolio(s)] other than the source account. Any portion of a Purchase Payment
allocated to the DCA Fixed Account Option(s) must be transferred out within the
specified DCA Fixed Account Option Period. Upon termination of the DCA program
any amounts remaining in the DCA Fixed Account Option(s) will be transferred to
the DCA target allocation(s) for the program being terminated. Upon
annuitization, any amounts remaining in the DCA Fixed Account Option(s) will be
applied to the Fixed Annuity Payments. The unit values credited and applied to
Your Contract are determined on each date of transfer. We reserve the right to
change the terms and conditions of the DCA program at any time."

2. The last two paragraphs of the section captioned "FIXED ACCOUNT GUARANTEE
PERIOD OPTIONS AND INTEREST CREDITING" are replaced by: "For thirty (30) days
following the date of expiration of a Guarantee Period, You may renew for the
same Guarantee Period at the Renewal Interest Rate or You may transfer all or a
portion of the amount to the [Subaccounts or Variable Portfolios]. If You do not
specify a Guarantee Period at the time of renewal, We will select the same
Guarantee Period as has just expired, crediting the Contract with the Renewal
Interest Rate in effect on the date of expiration of the Guarantee Period."

All other terms and conditions of the Contract remain unchanged. Signed for the
Company at Los Angeles, California, to be effective as of the Contract Date.




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