Document:

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                                 EXHIBIT (4)(a)

                                 FORM OF POLICY

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                                                      Home Office:
                                                      [4333 Edgewood Road N.E.]
[LOGO](R) Transamerica Life                           [Cedar Rapids, Iowa 52499]
          Insurance Company                           [(319)398-8511]
          A Stock Company (Hereafter called the Company, we, our or us)

================================================================================

                              ANNUITANT: [John Doe]

                              OWNER(S): [John Doe]

                           POLICY NUMBER: [07 - 12345]

                         POLICY DATE: [December 4, 2002]

                                    WE AGREE

..    To provide annuity payments as set forth in Section 10 of this policy,

..    Or to pay Withdrawal benefits in accordance with Section 5 of this policy,

..    Or to pay death proceeds in accordance with Section 9 of this policy.

Withdrawals may be subject to an Excess Interest Adjustment reflecting changes
in interest rates in accordance with Section 5 of this policy. Transfers and
amounts applied to a Payment Option may also be subject to an Excess Interest
Adjustment in accordance with Sections 8 and 10, respectively, of this policy.

These agreements are subject to the provisions of this policy. This policy is
issued in consideration of the payment of the initial premium.

This policy may be applied for and issued to qualify as a tax-qualified annuity
under the applicable sections of the Internal Revenue Code.

                             20 DAY RIGHT TO CANCEL

You may cancel this policy by delivering or mailing a written notice or sending
a telegram to us. You must return the policy before midnight of the twentieth
day after the day You receive it. Notice given by mail and return of the policy
by mail are effective on being postmarked, properly addressed and postage
prepaid.

We will pay You an amount equal to the sum of:

..    the premiums paid;

..    less prior Withdrawals, if any; and

..    the accumulated gains or losses, if any, in the Separate Account on the
     date of cancellation;

unless otherwise required by law.

                       Signed for us at our home office.

             /s/ Illegible                            /s/ Illegible
--------------------------------------   ---------------------------------------
               SECRETARY                                PRESIDENT

     This policy is a legal contract between the policyowner and the Company.
                           READ YOUR POLICY CAREFULLY

                   Flexible Premium Deferred Variable Annuity
                   Income Payable At Annuity Commencement Date
          Benefits Based On The Performance Of The Separate Account Are
  Variable And Are Not Guaranteed As To Dollar Amount (See Sections 6 and 10C)
                                Non-Participating

AV864 101 165 103

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                             SECTION 1 - DEFINITIONS

ADJUSTED POLICY VALUE - The Policy Value increased or decreased by any Excess
Interest adjustment.

ANNUITANT - The person whose life annuity payments will be based on.

ANNUITY COMMENCEMENT DATE - The Date the annuitant begins receiving payments
from this policy. In no event can this date be later than the 1st day of the
month following the month in which the Annuitant attains age 95.

CASH VALUE - Amount, defined in Section 5 that is available for partial or full
Surrenders.

CUMULATIVE EARNINGS - An amount equal to the Policy Value at the time a lump sum
payout or systematic payout option payout is made, minus the sum of all premium
payments reduced by all prior partial Withdrawals deemed to have been from
premium, if any.

CUSTODIAL CARE - Care designed essentially to help a person with the activities
of daily living which does not require the continuous attention of _rained
medical or paramedical personnel.

DISTRIBUTION - A Withdrawal or disbursement of funds from the Policy Value or
Cash Value. Policy Value and Cash Value will be reduced by any Distribution.

EARNINGS - The gains, if any, in the Policy Value.

GAINS - Cumulative Earnings, if any, in the Policy Value.

HOSPITAL - An institution which 1) is operated pursuant to the laws of the
jurisdiction in which it is located, 2) operates primarily for the care and
treatment of sick and injured persons on an inpatient basis, 3) provides 24-hour
nursing service by or under the supervision of registered graduate professional
nurses, 4) is supervised by a staff of one or more licensed Physicians, and 5)
has medical, surgical and diagnostic facilities or access to such facilities.

INCOME OPTIONS - Options through which the distribution of the Adjusted Policy
Value can be directed.

INVESTMENT OPTIONS - Any of the Guaranteed Fixed Account Options and any of the
Subaccounts of the Separate Account.

NURSING FACILITY - A facility which 1) is operated pursuant to the laws of the
jurisdiction in which it is located, 2) provides Nursing Care or Custodial Care,
3) primarily provides Nursing Care under the direction of a licensed Physician,
registered graduate professional nurse, or licensed vocational nurse, except
when receiving Custodial Care, and 4) is not other than incidentally a Hospital,
a home for the aged, a retirement home, a rest home, a community living center
or a place mainly for the treatment of alcoholism, mental illness or drug abuse.

NURSING CARE - Care prescribed by a Physician and performed or supervised by a
registered graduate nurse. Such care includes nursing and rehabilitation
services available 24 hours.

PAYEE - The person to whom annuity payments will be made.

PHYSICIAN - Doctor of Medicine or Doctor of Osteopathy who is licensed as such
and operating within the scope of the license.

POLICY ANNIVERSARY - The anniversary of the Policy Date for each year the policy
remains in force.

POLICY DATE - The date shown on the Policy Data page of this policy and the date
on which this policy becomes effective.

POLICY VALUE - Amount defined in Section 4, that can be used to fund one of the
Income Options.

POLICY YEAR - The 12-month period following the Policy Date shown on the Policy
Data page. The first Policy Year starts on the Policy Date. Each subsequent year
starts on the anniversary of the Policy Date.

SEPARATE ACCOUNT - The separate investment account(s) established by us, as
described in Section 6.

SUBACCOUNT - A division of the Separate Account, as described in Section 6.

SURRENDER - A partial or full Withdrawal of funds from the Policy Value or Cash
Value.

TERMINAL CONDITION - A condition resulting from an accident or illness which, as
determined by a Physician, has reduced life expectancy to not more than 12
months, despite appropriate medical care.

WITHDRAWAL - A distribution of funds from the Policy Value or Cash Value.

YOU, YOUR - The owner of this policy. Unless otherwise specified on the Policy
Data page, the Annuitant and the owner shall be one and the same person.

AVB864                               Page 2

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                             SECTION 2 - POLICY DATA

POLICY NUMBER:  [07-12345]               ANNUITANT: [John Doe]

INITIAL PREMIUM
PAYMENT:        [$15,000.00]         ISSUE AGE/SEX: [35 / Male]

POLICY DATE:    [December 4, 2002]        OWNER(S): [John Doe]

ANNUITY
COMMENCEMENT                             GUARANTEED
DATE:           [March 8, 2062]             MINIMUM
                                      DEATH BENEFIT
BENEFICIARY:    [Jane Doe]                  OPTION: [P]

Fixed Account Guaranteed Minimum Effective Annual Interest Rate: [2%]

Before the Annuity Commencement Date:

   [Death Benefit Option P - Return of Premium]
      Mortality and Expense Risk Fee and Administrative Charge: [1.65%]

After the Annuity Commencement Date:

      Mortality and Expense Risk Fee and Administrative Charge: [1.25%]

AV864 101 165 103SP                  Page 3

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                          SECTION 3 - PREMIUM PAYMENTS

PAYMENT OF PREMIUMS

Premium payments may be made any time while this policy is in force before the
Annuity Commencement Date. You may start or stop, increase or decrease, or skip
any premium payments.

MAXIMUM AND MINIMUM PREMIUM PAYMENT

The premium payments may not be more than the amount permitted by law if this is
a tax-qualified annuity. The minimum initial premium payment is $15,000. If this
policy is being used as a tax-qualified annuity, the minimum initial premium is
$1,000, except that no minimum initial premium payment will be required for
403(b) annuities. The minimum subsequent premium payment we will accept is $50.
The maximum total premium payments which we will accept without prior Company
approval is $1,000,000 for issue ages 0-80. For issue ages over 80, the maximum
total premium payments which we will accept without prior Company approval is
$500,000. We reserve the right to limit or refuse subsequent premium payments.

PREMIUM PAYMENT DATE

The premium payment date is the date on which the premium payment is credited to
the policy. The initial premium payment less any applicable premium taxes will
be credited to the policy within two business days of receipt of the premium
payment and the information needed. Subsequent additional premium payments will
be credited to the policy as of the business day the premium payment and
required information are received. A business day is any day that the New York
Stock Exchange is open for trading.

ALLOCATION OF PREMIUM PAYMENTS

Premium payments may be applied to various Investment Options, which we make
available. For each premium payment, You must indicate what percentage to
allocate to various Investment Options. Each percent may be either zero or any
whole number; however, the allocation among all accounts must total 100%.

CHANGE OF ALLOCATION

You may change the allocation of premium payments to various Investment Options
by providing us notice containing the facts that we need. Premium payments
received after the date on which we receive Your notice will be applied on the
basis of the new allocation.

PREMIUM TAXES

Your state may impose a premium tax. It may be imposed either when a premium
payment is made, on the Annuity Commencement Date, on the date of death or on
the date of full Surrender. When permitted by state law, we will not deduct the
premium tax until the Annuity Commencement Date, date of death, or date of full
Surrender.

                            SECTION 4 - POLICY VALUE

POLICY VALUE

On or before the Annuity Commencement Date, the Policy Value is equal to Your:

(a)  premium payments; minus
(b)  Gross Partial Withdrawals (as defined in Section 5); plus
(c)  interest credited to the Fixed Account (see Section 7); plus
(d)  accumulated gains in the Separate Account (see Section 6); minus
(e)  accumulated losses in the Separate Account (see Section 6); minus
(f)  service charges, premium taxes, rider fees and transfer fees, if any.

ADJUSTED POLICY VALUE

The Adjusted Policy Value is the Policy Value increased or decreased by any
Excess Interest Adjustment.

You may use the Adjusted Policy Value on the Annuity Commencement Date to
provide lifetime income or income for a period of no less than 60 months under
the Income Options in Section 10.

SERVICE CHARGE

On each Policy Anniversary and at the time of full Surrender during any Policy
Year before the Annuity Commencement Date, we reserve the right to assess a
Service Charge up to $35 for policy administration expenses. The Service Charge
will be deducted from each Investment Option in proportion to the portion of
Policy Value (prior to such charge) in each Investment Option. In no event will
the Service Charge exceed 2% of the Policy Value on the Policy Anniversary or at
the time of full Surrender.

The Service Charge will not be deducted on a Policy Anniversary or at the time
of full Surrender if, at either of these times, (1) the sum of all premium
payments less the sum of all Withdrawals taken equals or exceeds $50,000; or
(2) the Policy Value equals or exceeds $50,000.

M1447                                Page 4

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                 SECTION 5 - CASH VALUE AND PARTIAL WITHDRAWALS

CASH VALUE

On or before the Annuity Commencement Date, the Cash Value is equal to the
Adjusted Policy Value. Information on the current amount of Your policy's Cash
Value is available upon request. The Cash Value may be partially withdrawn or
will be paid in the event of a full Surrender of the policy. We must receive
Your written partial Withdrawal or Surrender request before the Annuity
Commencement Date.

There is no Cash Value once an Annuity Income Option has been selected.

EXCESS INTEREST ADJUSTMENT

Full Surrenders, partial Withdrawals, transfers, and amounts applied to a
Payment Option (prior to the end of any Guaranteed Payment Option) from
Guaranteed Period Options of the Fixed Account described in Section 7 will be
subject to an Excess Interest Adjustment except as provided for in the partial
Withdrawals provision below.

An Excess Interest Adjustment applies in the following situations:

1)   When You withdraw all or any portion of Your Cash Value,
2)   When You exercise Annuity Payment Options,
3)   When death proceeds are calculated. However, death proceeds will not be
     reduced if the Excess Interest Adjustment results in a decrease in the
     funds available to You.

The Excess Interest Adjustment is only applied to transactions affecting the
Guaranteed Period Options of the Fixed Account (see Section 7) and is based on
any change in interest rates from the time the affected Guaranteed Period(s)
started until the time the Excess Interest Adjustment occurs. The Excess
Interest Adjustment is applied as follows:

1)   The Excess Interest Adjustment is only applied when the transactions occur
     prior to the end of any Guaranteed Period Option;
2)   Transfers to the Guaranteed Period Options of the Fixed Account are
     considered Premium Payments for purposes of determining the Excess Interest
     Adjustment;
3)   The Excess Interest Adjustment may affect the death proceeds defined in
     Section 9;
4)   If interest rates have decreased from the time the affected Guaranteed
     Period(s) started until the time the transaction occurs, the Excess
     Interest Adjustment will result in additional funds available to You;
5)   If interest rates have increased from the time the affected Guaranteed
     Period(s) started until the time the transaction occurs, the Excess
     Interest Adjustment will result in a decrease in the funds available to
     You;
6)   Certain amounts are not subject to the Excess Interest Adjustment as
     provided in Sections 5, 7 and 8.
7)   Upon full Surrender, the cumulative interest credited to the Guaranteed
     Period Options of the Fixed Account at the time of Surrender will not be
     subject to an Excess Interest Adjustment.

The formula for determining the amount of the Excess Interest Adjustment is as
follows:

Excess Interest Adjustment = S x (G-C) x (M/12)
where:    S    is the amount (before premium taxes, if any) being Surrendered,
               partially withdrawn, transferred, or applied to a Payment Option
               that is subject to the Excess Interest Adjustment.
          G    is the guaranteed interest rate for the Guaranteed Period
               applicable to "S".
          C    is the current guaranteed interest rate then being offered on new
               Premium Payments for the next longer Guaranteed Period than "M".
               If this policy form or such a Guaranteed Period Option is no
               longer offered, "C" will be the U.S. Treasury rate for the next
               longer maturity (in whole years) than "M" on the 25th day of the
               previous calendar month, plus up to 2%.
          M    is the number of months remaining in the Guaranteed Period for
               "S", rounded up to the next higher whole number of months.

Upon full Surrender, the Excess Interest Adjustment (EIA) for each Guaranteed
Period Option will not reduce the Adjusted Policy Value for that Guaranteed
Period Option below the amount paid into, less any prior Withdrawals and
transfers from that Guaranteed Period Option, plus interest at the Fixed Account
Guaranteed Minimum Effective Annual Interest Rate shown on Page 3.

U1447                                Page 5

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                              SECTION 5 - CONTINUED

PARTIAL WITHDRAWALS

We will pay You a portion of the Cash Value as a Partial Withdrawal provided we
receive Your written request while the policy is in effect and before the
Annuity Commencement Date. When You request a Partial Withdrawal You must tell
us how it is to be allocated from among the Investment Options. If Your request
for a Partial Withdrawal from any Investment Option is less than or equal to the
Cash Value in that option, we will pay the amount of Your request. However, if
Your request for a Partial Withdrawal from any Investment Option is greater than
the Cash Value in that option, we will pay You the Cash Value of that Investment
Option.

The Gross Partial Withdrawal is the total amount which will be deducted from
Your Policy Value as a result of each Partial Withdrawal. The Gross Partial
Withdrawal may be more or less than Your requested Partial Withdrawal amount,
depending on whether Excess Interest Adjustments apply at the time You request
the Partial Withdrawal.

The formula for determining the Gross Partial Withdrawal is as follows:

Gross Partial Withdrawal = R - E, where:

R    is the requested Partial Withdrawal;
E    is the Excess Interest Adjustment.

If any Partial Withdrawal reduces the Cash Value below $500, we reserve the
right to pay the full Cash Value and terminate the policy.

We may delay payment of the Cash Value from the Fixed Account for up to 6 months
after we receive the request. If the owner dies after we receive the request,
but before the request is processed, the request will be processed before the
death proceeds are determined.

Partial Withdrawals in the amount of the cumulative interest in the Guaranteed
Period Option(s) of the Fixed Account at the time of Withdrawal may be withdrawn
from the GPO(s) of the Fixed Account free of any Excess Interest Adjustment.

Amounts withdrawn under one of the options as described below will be free of
EIA.

LUMP SUM

Beginning in the first Policy Year, the Cumulative Earnings are available as a
lump sum distribution once per Policy Year with no Excess Interest Adjustment
(EIA), however principal withdrawals will be subject to an EIA.

SYSTEMATIC PAYOUT OPTION

Beginning in the first Policy Year, a Systematic Payout Option (SPO) is
available on a monthly, quarterly, semi-annual or annual basis. At the time a
SPO payout is made, such payout must be at least $50 and may not exceed the
maximum of A and B, divided by the number of payouts made per year (e.g. 12 for
monthly).

A    is the Cumulative Earnings, if any, in the Policy Value and

B    is an amount equal to 10% of the premium payments.

No Excess Interest Adjustment will apply to the SPO payout. Monthly and
quarterly payouts must be sent through electronic funds transfer directly to a
checking or savings account. You may start or stop SPO payouts at any time;
however, 30 days' written notice is required to stop SPO payouts.

Once You have elected a SPO, You must wait a minimum time before the first SPO
payment: 1 month for monthly, 3 months for quarterly, 6 months for semi-annual,
or 12 months for annual. If a Lump Sum distribution is taken while SPO payments
have been elected and the total Withdrawal will exceed the free amount in that
Policy Year, the SPO will be stopped.

P1438                                Page 6

<PAGE>

                              SECTION 5 - CONTINUED

MINIMUM REQUIRED DISTRIBUTION

For tax-qualified plans, partial Withdrawals taken to satisfy minimum
distribution requirements under Section 401(a)(9) of the Internal Revenue Code
(IRC) are available with no Excess Interest Adjustments. The amount available
from this policy with respect to the minimum distribution requirement is based
solely on this policy.

The owner must be at least 70 1/2 years old in the calendar year of
distribution, must submit a written request to us and must take the distribution
before year-end. If the owner attains age 70 1/2 in the calendar year of
distribution, a written request, which is postmarked no later than the end of
the current calendar year, must be submitted to us.

Systematic minimum distributions must be at least $50 or a lump sum distribution
is available if minimum required distributions are less than $50.

Any amount requested in excess of the IRC minimum required distribution will
have the appropriate Excess Interest Adjustments applied, unless the excess
Distribution qualifies as Excess Interest Adjustment-free under any additional
options provided.

NURSING CARE AND TERMINAL CONDITION WITHDRAWAL OPTION

Beginning in the first Policy Year, if the owner or owner's spouse (Annuitant or
Annuitant's spouse if the owner is not a natural person) has been 1) confined in
a Hospital or Nursing Facility for 30 consecutive days or 2) diagnosed as having
a Terminal Condition, You may elect to withdraw all or a portion of the Policy
Value without an Excess Interest Adjustment. The minimum Withdrawal under this
option is $1000. This option is available even during the policy years other
partial Withdrawal options were exercised prior to Nursing Care.

For Nursing Care, we must receive each Withdrawal request and proof of
eligibility with each request no later than 90 days following the date that
confinement has ceased, unless it can be shown that it was not reasonably
possible to provide the notice and proof within the above time period and that
the notice and proof were given as soon as reasonably possible. However, in no
event, except the absence of legal capacity, shall the notice and proof be
provided later than one year following the date that confinement has ceased.
Proof of confinement may be a Physician's statement or a statement from a
Hospital or Nursing Facility administrator. For a Terminal Condition, we must
receive each Withdrawal request and the applicable proof of eligibility no later
than one year following diagnosis of the Terminal Condition. Proof of a Terminal
Condition is required only with the initial Withdrawal request and must be
furnished by the owner's, owner's spouse's, Annuitant's, or Annuitant's spouse's
Physician.

UNEMPLOYMENT WAIVER

Beginning in the first Policy Year, You may withdraw all or a portion of the
Policy Value free of any Excess Interest Adjustment if the owner or owner's
spouse (Annuitant or Annuitant's spouse, if the owner is not a natural person)
becomes unemployed. In order to qualify, You 1) must have been employed
full-time for at least two years prior to Your becoming unemployed, 2) must have
been employed full-time on Your Policy Date, 3) must have been unemployed for at
least 60 consecutive days at the time of Withdrawal and 4) must have a minimum
Cash Value at the time of Withdrawal of $5000. Proof of unemployment will
consist of providing us with a determination letter from the applicable State's
Department of Labor, which verifies that You qualify for and are receiving
unemployment benefits at the time of Withdrawal. The determination letter must
be received by us no later than 15 days following the date of the Withdrawal
request.

GUARANTEED RETURN OF FIXED ACCOUNT PREMIUM PAYMENTS

Upon full Surrender of the policy, You will always receive at least the premium
payments made to, less prior Withdrawals and transfers from, the Fixed Account.

MINIMUM VALUES

Benefits available under this policy, including any paid up annuity or death
benefits that may be available, are not less than those required by any statute
of the state in which the policy is delivered.

PB1438                               Page 7

<PAGE>

                          SECTION 6 - SEPARATE ACCOUNT

SEPARATE ACCOUNT

We have established and will maintain one or more Separate Account(s), under the
laws of the state of Iowa. Any realized or unrealized income, net gains and
losses from the assets of the Separate Account are credited to or charged
against it without regard to our other income, gains or losses. Assets are put
in the Separate Account for this policy, as well as for other variable annuity
policies. Any Separate Account may invest assets in shares of one or more mutual
fund portfolio, or in the case of a managed Separate Account, direct investments
in stocks or other securities as permitted by law. Fund shares refer to shares
of underlying mutual funds or prorata ownership of the assets held in a
Subaccount of a managed Separate Account Fund shares are purchased, redeemed and
valued on behalf of the Separate Account.

The Separate Account is divided into Subaccounts. Each Subaccount invests
exclusively in shares of one of the portfolios of an underlying fund. We reserve
the right to add or remove any Subaccount of the Separate Account.

The assets of the Separate Account are our property. These assets will equal or
exceed the reserves and other contract liabilities of the Separate Account.
These assets will not be chargeable with liabilities arising out of any other
business we conduct. We reserve the right, subject to regulations governing the
Separate Account, to transfer assets of a Subaccount, in excess of the reserves
and other contract liabilities with respect to that Subaccount, to another
Subaccount or to our General Account.

We will determine the fair market value of the assets of the Separate Account in
accordance with a method of valuation, which we establish in good faith.
Valuation Period means the period of time from one determination of the value of
each Subaccount to the next. Such determinations are made when the value of the
assets and liabilities of each Subaccount is calculated. This is generally the
close of business on each day on which the New York Stock Exchange is open.

We also reserve the right to transfer assets of the Separate Account, which we
determine to be associated with the class of policies to which this policy
belongs, to another Separate Account. If this type of transfer is made, the term
"Separate Account", as used in the policy, shall then mean the Separate Account
to which the assets were transferred.

We also reserve the right, when permitted by law to:

(a)  deregister the Separate Account under the Investment Company Act of 1940;
(b)  manage the Separate Account under the direction of a committee at any time;
(c)  restrict or eliminate any voting rights of policy owners or other persons
     who have voting rights as to the Separate Account;
(d)  combine the Separate Account with one or more other Separate Accounts;
(e)  create new Separate Accounts;
(f)  add new Subaccounts to or remove existing Subaccounts from the Separate
     Account, or combine Subaccounts; and
(g)  add new underlying mutual funds, remove existing mutual funds, or
     substitute a new fund for an existing fund.

V1391                                Page 8

<PAGE>

                              SECTION 6 - CONTINUED

The Net Asset Value of a fund share is the per-share value calculated by the
mutual fund or, in the case of a managed Separate Account, by the Company. The
Net Asset Value is computed by adding the value of the Subaccount's investments,
cash and other assets, subtracting its liabilities, and then dividing by the
number of shares outstanding. Net Asset Values of fund shares reflect investment
advisory fees and other expenses incurred in managing a mutual fund or a managed
Separate Account.

CHANGE IN INVESTMENT OBJECTIVE OR POLICY OF A MUTUAL FUND

If required by law or regulation, an investment policy of the Separate Account
will only be changed if approved by the appropriate insurance official of the
state of Iowa or deemed approved in accordance with such law or regulation. If
so required, the process for obtaining such approval is filed with the insurance
official of the state or district in which this policy is delivered.

CHARGES AND DEDUCTIONS

The Mortality and Expense Risk Fee and the Administrative Charge are each
deducted both before and after the Annuity Commencement Date to compensate for
changes in mortality and expenses not anticipated by the mortality and
administration charges guaranteed in the policy.

The Service Charge is deducted prior to the Annuity Commencement Date only.

If the Mortality and Expense Risk Fee is more than sufficient, the Company will
retain the balance as profit or may reduce this fee in the future.

ACCUMULATION UNITS

The Policy Value in the Separate Account before the Annuity Commencement Date is
represented by accumulation units. The dollar value of accumulation units for
each Subaccount will change from business day to business day reflecting the
investment experience of the Subaccount.

Premium Payments allocated to and any amounts transferred to the Subaccounts
will be applied to provide accumulation units in those Subaccounts. The number
of accumulation units purchased in a Subaccount will be determined by dividing
the amount allocated to or transferred to that Subaccount, by the value of an
accumulation unit for that Subaccount on the premium payment or transfer date.

The number of accumulation units withdrawn or transferred from the Subaccounts
will be determined by dividing the amount withdrawn or transferred by the value
of an accumulation unit for that Subaccount on the Withdrawal or transfer date.

The value of an accumulation unit on any business day is determined by
multiplying the value of that unit at the end of the immediately preceding
valuation period by the net investment factor for the valuation period.

The net investment factor used to calculate the value of an accumulation unit in
each Subaccount for the Valuation Period is determined by dividing (a) by (b)
and subtracting (c) from the result, where:

(a)  is the result of:

     (1)  the net asset value of a fund share held in that Subaccount determined
          as of the end of the current valuation period; plus
     (2)  the per share amount of any dividend or capital gain Distributions
          made by the fund for shares held in that Subaccount if the ex-dividend
          date occurs during the valuation period; plus or minus
     (3)  a per share credit or charge for any taxes reserved for, which we
          determine to have resulted from the investment operations of that
          Subaccount.

(b)  is the net asset value of a fund share held in that Subaccount determined
     as of the end of the immediately preceding valuation period.
(c)  is a factor representing the Mortality and Expense Risk Fee and
     Administrative Charge before the Annuity Commencement Date. This factor is
     less than or equal to, on an annual basis, the percentage shown on the
     Policy Data Page of the daily net asset value of a fund share held in that
     Subaccount.

Since the net investment factor may be greater or less than one, the
accumulation unit value may increase or decrease.

VB1391                               Page 9

<PAGE>

                            SECTION 7 - FIXED ACCOUNT

FIXED ACCOUNT

___ Fixed Account is comprised of Guaranteed period Options and the Dollar Cost
Averaging Fixed Option that we may choose to offer. Premium __ments applied to
and any amounts transferred to Fixed Account will reflect a fixed interest rate.
__ interest rates we set will be credited for __ements of at least one year
measured from ___h premium payment or transfer date. These ___s will never be
less than the Fixed Account Guaranteed Minimum Effective Annual Interest Rate
shown on Page 3.

__on full Surrender of the Policy, the minimum __h Value provided by the Fixed
Account portion the Policy Value will be at least 90% of the premium payments
made to the Fixed Account less or Withdrawals and transfers from the Fixed
account, plus interest credited using an Effective Annual Interest Rate of 3%.

__e reserve the right, at our sole discretion, to limit __ refuse premium
payments and/or transfers located to any of the Fixed Account options in
Section 7 if we are crediting an interest rate equal __ the Fixed Account
Guaranteed Minimum Effective Annual Interest Rate shown on page 3.

GUARANTEED PERIOD OPTIONS

__e may offer optional Guaranteed Period Options, __o which premium payments may
be paid or amounts transferred. The current interest rate we __t for funds
entering each Guaranteed Period Option (GPO) is guaranteed until the end of that
__tion's Guaranteed Period. At that time, the Premium payment made or amount
transferred into __ GPO, less any Withdrawals or transfers from at GPO, plus
accrued interest, will be rolled into a __w GPO or may be transferred to any
Subaccount(s) within the Separate Account(s).

You may choose the Investment Option(s) You want the funds transferred into by
giving us a written notice within 30 days before the end of the __piring
option's Guaranteed Period. However, any Guaranteed Period elected may not
extend beyond __e maximum Annuity Commencement Date defined __ Section 11. In
the absence of such election, the funds will be rolled into a new GPO which is
the same as the expiring GPO unless that GPO is no longer offered. In that case,
the funds will be rolled into the next shorter GPO available, otherwise the next
longer GPO available. You will be mailed a notice of completion of the rollover
with the new interest rate applicable. The new GPO will be deemed as accepted if
we do not receive a written rejection within 30 days from the postmark date of
the completion notice. We reserve the right, at our sole discretion, for new
premium payments, transfers, or rollovers to offer or not to offer any GPO,
except that we will always offer a GPO with a Guaranteed Period of at least one
year.

When funds are withdrawn or transferred from a GPO, the Policy Value associated
with the oldest premium payment or rollover is considered to be
withdrawn/transferred first. If the amount withdrawn/transferred exceeds the
Policy Value associated with the oldest premium, the Policy Value associated
with the next oldest premium payment or rollover is considered to be
withdrawn/transferred next, and so on until the Policy Value associated with
the most recent premium payment or rollover is considered to be
withdrawn/transferred (this is a "First-In, First-Out" or FIFO basis).

Partial Withdrawals, Surrenders, transfers, and amounts applied to a Payment
Option from the Guaranteed Period Option(s) are subject to an Excess Interest
Adjustment as described in Section 5.

DOLLAR COST AVERAGING FIXED ACCOUNT OPTION

We may offer a Dollar Cost Averaging (DCA) Fixed Account Option separate from
the Guaranteed Period Options. This option will have a one-year interest rate
guarantee. The current interest rate we set for the DCA Fixed Account may differ
from the rates credited on the one-year GPO in the Fixed Account. In addition,
the current interest rate we credit may vary on different portions of the DCA
Fixed Account. The credited interest rate will never be less than the Fixed
Account Guaranteed Minimum Effective Annual Interest Rate shown on Page 3. The
DCA Fixed Account Option will only be available under a Dollar Cost Averaging
program as described in Section 8.

                              SECTION 8 - TRANSFERS

__   TRANSFERS BEFORE THE ANNUITY COMMENCEMENT DATE

Prior to the Annuity Commencement Date, You may transfer the value of the
accumulation units from the Investment Option to another by providing us notice
containing the facts that we need.

Transfers of Policy Value from the Guaranteed _eriod Options (GPO) of the Fixed
Account prior to _te end of that GPO are subject to an Excess interest
Adjustment. If the Excess Interest Adjustment at the time of such Policy Value
transfer results in a decrease in the funds available __ You, then the maximum
Policy Value transfer is 5% of that GPO's Policy Value, less Policy Values
_reviously transferred out of that GPO during the current Policy Year. Each
such transfer must be separated by a period of 12 months.

If the Excess Interest Adjustment at the time of such Policy Value transfer
results in additional funds available to You, no maximum will apply to such
Policy Values transferred from the GPO. No Excess Interest Adjustment will
apply to Policy Value transfers at the end of a Guaranteed Period.

Transfers of interest credited in the GPOs to other Investment Options are
allowed on a "First-In, First-Out" basis. Such transfers may be made monthly,
quarterly, semi-annually, or annually. Each such transfer must be at least $50
and will not be subject to an Excess Interest Adjustment.

Transfers of Policy Value from the Separate Account are subject to a minimum of
$500 or the entire Subaccount Policy Value, if less. However, if the remaining
Subaccount Policy Value is less than $500, we reserve the right to include that
amount as part of the transfer.

_1051                                Page 10

<PAGE>

                              SECTION 8 - CONTINUED

You may choose which GPO to transfer to or from, however, any GPO elected may
not extend beyond the maximum Annuity Commencement Date defined in Section 11.

We reserve the right to limit transfers to no more than 12 in any one Policy
Year. Any transfers in excess of 12 per Policy Year may be charged a $10 per
transfer fee. Transfers among multiple Investment Options will be treated as one
transfer in determining the number of transfers that have occurred. We also
reserve the right, at our sole discretion, to limit or refuse premium payments
and/or transfers allocated to any of the Fixed Account Options in Section 7 if
we are crediting an interest rate equal to the Fixed Account Guaranteed Minimum
Effective Annual Interest Rate shown on Page 3.

The policy was not designed for professional market timing organizations or
other persons that use programmed, large, or frequent transfers. The use of such
transfers may be disruptive to an underlying portfolio. We reserve the right to
reject any transfer request from any person in the interest of overall fund
management or, if, in our judgment an underlying fund would be unable to invest
effectively in accordance with its investment objectives and policies or would
otherwise be potentially adversely affected or if an underlying fund would
reject our purchase order. We also reserve the right to revoke Your telephone,
fax, and electronic transfer privileges at any time without revoking all owner's
telephone, fax and electronic transfer privileges.

DOLLAR COST AVERAGING OPTION

Prior to the Annuity Commencement Date, You may instruct us to automatically
transfer a specified amount from the Money Market Subaccount or out of the
Dollar Cost Averaging (DCA) Fixed Account Option to any other Subaccount(s) of
the Separate Account. The automatic transfers can occur monthly or quarterly.

Transfers will continue until the elected Subaccount or DCA Fixed Account value
is depleted. The amount transferred each time must be at least $500. All
transfers from the DCA account will be the same amount as the initial transfer.
Changes to the Subaccounts to which these transfers are allocated are not
restricted. Transfers must be scheduled for at least 6, but not more than 24
months or for at least 4, but not more than 8 quarters each time the Dollar Cost
Averaging program is started or restarted following termination of the program
for any reason.

Dollar Cost Averaging results in the purchase of more accumulation units when
the value of the accumulation unit is low, and fewer accumulation units when the
value of the accumulation unit is high. However, there is no guarantee that the
Dollar Cost Averaging program will result in higher Policy Values or will
otherwise be successful.

Dollar cost Averaging may be discontinued before its scheduled completion by
sending written notice to us. While Dollar Cost Averaging is in effect, Asset
Rebalancing is not available. If Dollar Cost Averaging is discontinued prior to
the end of the scheduled period, all remaining funds in the Dollar Cost
Averaging Fixed Account will be transferred at that time.

ASSET REBALANCING

Prior to the Annuity Commencement Date, You may instruct us to automatically
transfer amounts among the Subaccounts of the Separate Account on a regular
basis to maintain a desired allocation of the Policy Value among the various
Subaccounts offered Rebalancing will occur on a monthly, quarterly, semi-annual
or annual basis, beginning on a date selected by You. You must select the
percentage of the Policy Value desired in each of the various Subaccounts
offered (totaling 100%). Any amounts in the Fixed Account are ignored for the
purposes of Asset Rebalancing. Rebalancing can be started, stopped or changed at
any time. Asset Rebalancing is not available while Dollar Cost Averaging is in
effect, Rebalancing will cease as soon as we receive a request for any other
transfer.

B.   TRANSFERS AFTER THE ANNUITY COMMENCEMENT DATE

After the Annuity Commencement Date, You may transfer the value of the variable
annuity units from one Subaccount to another within the Separate Account or to
the Fixed Account. If You want to transfer the value of the variable annuity
units, You must provide a signed notice, containing the facts that we need. We
reserve the right to limit transfers between the Subaccounts or to the Fixed
Accounts to once per Policy Year.

The minimum amount which may be transferred is the lesser of $10 monthly income
or the entire monthly income of the variable annuity units in the Subaccount
from which the transfer is being made. If the monthly income of the remaining
units in a Subaccount is less than $10, we have the right to include the value
of those variable annuity units as part of the transfer.

After the Annuity Commencement Date, no transfers may be made from the Fixed
Account to any other Investment Options.

LB1051                               Page 11

<PAGE>

                           SECTION 9 - DEATH PROCEEDS

A.   DEATH PROCEEDS PRIOR TO ANNUITY COMMENCEMENT DATE

The amount of death proceeds will be the greatest of (a), (b) or (c) where:

(a)  is the Policy Value on the date we receive due proof of death and an
     election of a method of settlement;
(b)  is the Cash Value on the date we receive due proof of death and an election
     of a method of settlement, and;
(c)  is the Guaranteed Minimum Death Benefit (GMDB), if any, plus any additional
     premium payments received, less any Gross Partial Withdrawals from the date
     of death to the date of payment of death proceeds.

If You have not selected an Income Option by the date of death, the beneficiary
may make such election within one year of the date we receive due proof of the
owner's or Annuitant's death as described in C below. The beneficiary may elect
to receive the death proceeds as a lump sum payment or may use the death
proceeds to provide any of the annuity Income Options described in Section 10.
Interest on death proceeds will be paid as required by law.

B.   GUARANTEED MINIMUM DEATH BENEFIT

The amount of the Guaranteed Minimum Death Benefit, if any, is based on the
death benefit option shown on the Policy Data Page. You may not change the GMDB
option after the policy is issued.

D539                                 Page 12

<PAGE>

                              SECTION 9 - CONTINUED

C.   DEATH PRIOR TO ANNUITY COMMENCEMENT DATE

Death proceeds are payable contingent upon the relationships between the owner,
Annuitant, and beneficiary as outlined below. The policy must be Surrendered
upon settlement or on proof of death.

If there is a surviving owner(s), the surviving owner(s) automatically takes the
place of any beneficiary designation.

I.   Annuitant Death

     When we have due proof that the Annuitant died before the Annuity
     Commencement Date, we will provide the death proceeds to the beneficiary.
     If no beneficiary is designated, the owner or owner's estate will become
     the beneficiary.

          a)   Beneficiary is the deceased Annuitant's surviving spouse. The
               beneficiary may elect to continue this policy as owner and
               Annuitant rather than receiving the death proceeds. If the policy
               is continued, an amount equal to the excess, if any, of the
               Guaranteed Minimum Death Benefit over the Policy Value will then
               be added to the Policy Value. This is a one-time only Policy
               Value adjustment applied at the time the policy is continued, and
               the Guaranteed Minimum Death Benefit will continue on as
               applicable.

               If this beneficiary elects to have the death proceeds paid, the
               death proceeds must be distributed:

               (1)  by the end of 5 years after the date of the deceased
                    Annuitant's death, or
               (2)  payments must begin no later than one year after the
                    deceased Annuitant's death and must be made for a period
                    certain or for this beneficiary's lifetime, so long as any
                    period certain does not exceed this beneficiary's life
                    expectancy.

     In 1035 exchanges where there are joint Annuitants, the death proceeds will
     only be payable upon the death of the surviving Annuitant.

II.  Owner or Joint Owner dies.

     If an owner or joint owner who is also an Annuitant dies, death proceeds
     will be payable according to section I above.

If an owner or joint owner who is not an Annuitant dies prior to the Annuity
Commencement Date and before the entire interest in the policy is distributed,
the successor owner as defined below will become the new owner. The person or
entity first listed below who is alive or in existence on the date of that death
will become the successor owner:

          a)   owner or joint owners;
          b)   primary beneficiary;
          c)   contingent beneficiary; or
          d)   owner's estate.

If the sole successor owner is the deceased owner's surviving spouse, the
successor owner may elect to continue this policy rather than receiving the
Adjusted Policy Value.

If the successor owner is a natural person but is not the sole surviving spouse,
OR if the successor owner is the sole surviving spouse but elects to have the
Adjusted Policy Value paid, the Adjusted Policy Value must be distributed by
either a) or b) below:

          a)   by the end of 5 years after the date of the deceased owner's
               death, or

          b)   payments must begin no later than one year after the deceased
               owner's death and must be made for a period certain or for the
               successor owner's lifetime, so long as any period certain does
               not exceed the successor owner's life expectancy.

D.   DEATH ON OR AFTER THE ANNUITY COMMENCEMENT DATE

The death proceeds on or after the Annuity Commencement Date depend on the
payment option selected. If any owner dies on or after the Annuity Commencement
Date, but before the entire interest in the policy is distributed, the remaining
portion of such interest in the policy will be distributed to the owner's
beneficiary at least as rapidly as under the method of distribution being used
as of the date of that owner's death.

E.   AN OWNER IS NOT AN INDIVIDUAL

In the case of a non tax-qualified annuity, if any owner or beneficial owner is
not an individual, then for purposes of the federal income tax mandatory
distribution provisions in subsection C or D above, (1) the primary Annuitant
will be treated as the owner of the policy, and (2) if there is any change in
the primary Annuitant, such a change will be treated as the death of the owner.

DB539                                Page 13

<PAGE>

                          SECTION 10 - ANNUITY PAYMENTS

A.   GENERAL PAYMENT PROVISIONS

Payment

If this policy is in force on the Annuity Commencement Date, we will use the
Fixed Account portion and/or the Separate Account portion of the Adjusted Policy
Value to make annuity payments to the Payee under Option 3 and/or 3-V,
respectively, with 10 years certain, or if elected, under one or more of the
other options described in this section, or any other method of payment if we
agree. However, the option(s) elected must provide for lifetime income or income
for a period of at least 60 months. You will become the Annuitant at the Annuity
Commencement Date. Payments will be made at 1, 3, 6 or 12-month intervals. We
reserve the right to change the frequency of payments to avoid making payments
of less than $50.00.

Before the Annuity Commencement Date, if the death proceeds become payable or if
You Surrender this policy, we will pay any proceeds in one sum, or if elected,
all or part of these proceeds may be placed under one or more of the options
described in this section. If we agree, the proceeds may be placed under some
other method of payment instead.

Adjusted Age

Payments under Options 3 and 5 and the first payment under Options 3-V and 5-V
are determined based on the adjusted age of the Annuitant. The adjusted age is
the Annuitant's actual age on the Annuitant's nearest birthday, at the Annuity
Commencement Date, adjusted as follows:

     Annuity
Commencement Date      Adjusted Age
-----------------   ------------------
   Before 2010      Actual Age
   2010 - 2019      Actual Age minus 1
   2020 - 2026      Actual Age minus 2
   2027 - 2033      Actual Age minus 3
   2034 - 2040      Actual Age minus 4
   After  2040      Determined by us

Election of Optional Method of Payment

Before the Annuity Commencement Date You can elect or change an Income Option.
You may elect, in a notice You sign which gives us the facts that we need,
annuity payments that may be either variable, fixed, or a combination of both.
If You elect a combination, You must also tell us what part of the policy
proceeds on the Annuity Commencement Date are to be applied to provide each type
of payment. (You must also specify which Subaccounts.) The amount of a combined
payment will be the sum of the variable and fixed payments. Payments under a
variable Income Option will reflect the investment performance of the selected
Subaccount of the Separate Account.

Payee

Unless You specify otherwise, the Payee shall be the Annuitant, or the
beneficiary as defined in the Beneficiary provision in Section 11.

Proof of Age

We may require proof of the age of any person who has an annuity purchased under
Options 3, 3-V, 5 and 5 -V of this section before we make the first payment.

Minimum Proceeds

If the proceeds are less than $2,000, we reserve the right to pay them out as a
lump sum instead of applying them to an income option.

Premium Tax

We may be required by law to pay premium tax on the amount applied to an income
option. If so, we will deduct the premium tax before applying the proceeds.

Supplementary Contract

Once proceeds become payable and an income option has been selected, we will
issue a supplementary contract to reflect the terms of the selected option. The
contract will name the Payee(s) and will describe the payment schedule.

S1156                                Page 14

<PAGE>

                             SECTION 10 - CONTINUED

B.   FIXED INCOME OPTIONS

Guaranteed Income Options

The fixed income option is determined by multiplying each $1,000 of policy
proceeds allocated to a fixed income option by the amounts shown on page 18 for
the option You select Options 1, 2 and 4 are based on a guaranteed interest rate
of 2%. Options 3 and 5 are based on a guaranteed interest rate of 2% and the
"Annuity 2000" (male, female, and unisex if required by law) mortality table
projected for improvement using projection scale G. The "Annuity 2000" mortality
rates are adjusted based on improvements in mortality since 2000 to more
appropriately reflect increased longevity. This is accomplished using a set of
improvement factors referred to as projection scale G.

Option 1 - Interest Payments

We will pay the interest on the amount we use to provide annuity payments in
equal payments or this amount may be left to accumulate for a period of time we
and You agree to. We and You will agree on Withdrawal rights when You elect this
option. The interest rate we declare for this option may be different than the
interest rate(s) credited prior to the Annuity Commencement Date.

Option 2 - Income for a Specified Period

We will make level payments only for the fixed period You choose. In the event
of the death of the person receiving payments prior to the end of the fixed
period elected, payments will be continued to that person's beneficiary or their
present value may be paid in a single sum. No funds will remain at the end.

Option 3 - Life Income - You may choose between:

1.   No Period Certain - We will make level payments only during the Annuitant's
     lifetime.
2.   10 Years Certain - We will make level payments for the longer of the
     Annuitant's lifetime or ten years.
3.   Guaranteed Return of Policy Proceeds - We will make level payments for the
     longer of the Annuitant's lifetime or until the total dollar amount of
     payments we made to You equals the amount applied to this option.
4.   Life with Emergency Cash - We will make level payments during the
     Annuitant's lifetime, but the annuity may be Surrendered (in full or part).
     The cash value is equal to a multiple of the payment where that multiple
     reduces over time to zero at age 101. A surrender charge will be applied.
     Should the Annuitant die before age 101 (or IRS Age Limitation Date if
     earlier and the contract is qualified), the same cash value would be
     payable, but without the surrender charge.

Options 3(1) and 3(4) are not available for Adjusted Age(s) greater than 85.

Option 4 - Income of a Specified Amount

Payments are made for any specified amount until the amount applied to this
option, with interest is exhausted. This will be a series of level payments
followed by a smaller final payment. In the event of the death of the person
receiving payments prior to the time proceeds with interest are exhausted,
payments will be continued to that person's beneficiary or their present value
may be paid in a single sum.

Option 5 - Joint and Survivor Annuity - You may choose between:

1.   No Period Certain - Payments are made during the joint lifetime of the
     Payee and a joint Payee of Your selection. Payments will be made as long as
     either person is living.

2.   Life with Emergency Cash - Level payments will be made during the joint
     lifetime of the Payee and a joint Payee of Your selection. Payments will be
     made as long as either person is living, but the annuity may be Surrendered
     (in full or part). The cash value is equal to a multiple of the payment,
     where that multiple reduces over time to zero at age 101 of the younger
     Annuitant. A surrender charge will be applied. Should the last surviving
     Annuitant die before age 101 (or IRS Age Limitation Date if earlier and the
     contract is qualified), the same cash value would be payable, but without
     the surrender charge.

Options 5(1) and 5(2) are not available for Adjusted Age(s) greater than 85.

Current Income Options

The amounts shown in the tables on page 18 are the guaranteed amounts. Current
amounts offered to individuals of the same class may be obtained from us,
subject to availability as described under Guaranteed Income Options above.

SB1156                               Page 15

<PAGE>

                             SECTION 10 - CONTINUED

C. VARIABLE INCOME OPTIONS

Variable Annuity Units

The policy proceeds You tell us to apply to a variable income option will be
used to purchase variable annuity units in Your chosen Subaccounts. The dollar
value of variable annuity units in Your chosen Subaccounts will increase or
decrease reflecting the investment experience of Your chosen Subaccounts. The
value of a variable annuity unit in a particular Subaccount on any business day
is equal to (a) multiplied by (b) multiplied by (c), where:

(a)  is the variable annuity unit value for that Subaccount on the immediately
     preceding business day;
(b)  is the net investment factor for that Subaccount for the Valuation Period;
     and
(c)  is the  Assumed  Investment  Return  adjustment  factor  for the  Valuation
     Period.

The Assumed Investment Return adjustment factor for the valuation period is the
product of discount factors of .99986634 per day to recognize the 5.0% effective
annual Assumed Investment Return.

The net investment factor used to calculate the value of a variable annuity unit
in each Subaccount for the Valuation Period is determined by dividing (a) by (b)
and subtracting (c) from the result, where:

(a)  is the net result of:

     (1)  the net asset value of a fund share held in that Subaccount determined
          as of the end of the current valuation period; plus
     (2)  the per share amount of any dividend or capital gain Distributions
          made by the fund for shares held in that Subaccount if the ex-dividend
          date occurs during the Valuation Period; plus or minus
     (3)  a per share credit or charge for any taxes reserved for, which we
          determine to have resulted from the investment operations of the
          Subaccount

(b)  is the net asset value of a fund share held in that Subaccount determined
     as of the end of the immediately preceding Valuation Period.
(c)  is a factor representing the Mortality and Expense Risk Fee and
     Administrative Charge applicable after the Annuity Commencement Date. This
     factor is less than or equal to, on an annual basis, the percentage shown
     on the Policy Data Page (plus any additional fee applicable to the Optional
     Initial Payment Guarantee at the time of annuitization), of the daily net
     asset value of a fund share held in the Separate Account for that
     Subaccount

Determination of the First Variable Payment

The amount of the first variable payment is determined by multiplying each
$1,000 of policy proceeds allocated to a variable income option by the amounts
shown on page 20 for the variable option You select. The tables are based on a
5% effective annual Assumed Investment Return and the "Annuity 2000" (male,
female, and unisex if required by law) mortality table projected for improvement
using projection scale G. The "Annuity 2000" mortality rates are adjusted based
on improvements in mortality since 2000 to more appropriately reflect increased
longevity. This is accomplished using a set of improvement factors referred to
as projection scale G.

Option 3-V - Life Income - You may choose between:

1.   No Period Certain - Payments will be made during the lifetime of the
     Annuitant
2.   10 Years Certain - Payments will be made for the longer of the Annuitant's
     lifetime or ten years. In the event of the death of the person receiving
     payments prior to the end of the guarantee period for which the election
     was made, payments will be continued to that person's beneficiary or their
     present value may be paid in a single sum.
3.   Life with Emergency Cash - We will make payments during the Annuitant's
     lifetime, but the annuity may be Surrendered (in full or part). The cash
     value is equal to a multiple of the Supportable Payment (see definition
     below), where that multiple reduces over time to zero at age 101. A
     surrender charge will be applied. Should the Annuitant die before age 101
     (or IRS Age Limitation Date if earlier and the contract is qualified), the
     same cash value would be payable, but without the surrender charge.

Options 3-V(1) and 3-V(3) are not available for Adjusted Age(s) greater than 85.

C890                                 Page 16

<PAGE>

                             SECTION 10 - CONTINUED

Option 5-V - Joint and Survivor Annuity - You may choose between:

1.   No Period Certain - Payments are made as long as either the Annuitant or
     the joint Annuitant is living.

2.   Life with Emergency Cash - Payments will be made during the joint lifetime
     of the Payee and a joint Payee of Your selection. Payments will be made as
     long as either person is living, but the annuity may be Surrendered (in
     full or part). The cash value is equal to a multiple of the Supportable
     Payment (see definition below), where that multiple reduces over time to
     zero at age 101 of the younger Annuitant. A surrender charge will be
     applied. Should the last surviving Annuitant die before age 101 (or IRS Age
     Limitation Date if earlier and the contract is qualified), the same cash
     value would be payable, but without the surrender charge.

Options 5-V(1) and 5-V(2) are not available for Adjusted Age(s) greater than 85.

Optional Initial Payment Guarantee

Upon annuitization, You may elect an option that guarantees Your variable
annuity payments will never be less than a percentage of the initial variable
annuity payment. You cannot terminate the payment guarantee after You have
selected the option. The percentage applicable to the initial payment and the
additional fee for the option will be those currently applicable at the time of
annuitization.

Supportable Payment

The Supportable Payment is the sum of each selected subaccount's variable
annuity unit value times the number of variable annuity units. The variable
annuity units are adjusted to reflect the year-to-date difference between the
stabilized payment and the payment had they not been stabilized. Supportable
Payments are used to determine surrender values, death benefits and transfers.

Determination of Subsequent Variable Payments Without Stabilization

The amount of each variable annuity payment after the first will increase or
decrease according to the value of the variable annuity units which reflect the
investment experience of the selected Subaccounts. Each variable annuity payment
after the first will be equal to the number of variable annuity units in the
selected Subaccounts multiplied by the variable annuity unit value on the date
the payment is made. The number of variable annuity units in each selected
Subaccount is determined by dividing the first variable annuity payment
allocated to the Subaccount by the variable annuity unit value of that
Subaccount on the Annuity Commencement Date.

Determination of Subsequent Variable Payments With Stabilization

If "Life with Emergency Cash" is chosen (Option 3-V(3) or 5-V(2)), or if the
Optional Initial Payment Guarantee is chosen, variable annuity payments during
the first year following the election date, will be stabilized to equal the
initial payment. Your election date is the date You elect the "Life with
Emergency Cash" option or the "Optional Initial Payment Guarantee" option. On
each anniversary of Your election date, the stabilized variable annuity payment
will be increased or decreased (but never below the guaranteed payment if the
Optional Initial Payment Guarantee is chosen) and held level for that year. On
each anniversary of Your election date, the stabilized variable annuity payment
will equal the Supportable Payment at that time (or if the Optional Initial
Payment Guarantee is chosen), the stabilized variable payment will equal the
greater of the guaranteed payment or the Supportable Payment at that time (or if
the Optional Initial Payment Guarantee is chosen, the stabilized variable
payment will equal the greater of the guaranteed payment or the Supportable
Payment at that time).

If the payment without stabilization (at any payment date during the Policy
Year) is greater than the stabilized variable annuity payment for that year, the
excess will be used to purchase additional annuity units (as described below).
If the payment without stabilization (at any payment date during the Policy
Year) is less than the stabilized variable annuity payment for that year,
annuity units will be redeemed (as described below) to fund the deficiency.

Purchase/Redemption of Annuity Units with Stabilized Variable Annuity Payments

The number of annuity units purchased or redeemed is equal to the annuity income
purchased or redeemed, respectively, divided by the annuity unit value for each
respective Subaccount. Purchases and redemptions of annuity income will be
allocated to each Subaccount on a proportionate basis. The amount of annuity
income purchased or redeemed is the difference between the payment without
stabilization during the Policy Year and the stabilized variable annuity
payment, times an attained adjusted age nearest birthday Payment Factor divided
by $1,000. The Payment Factor will reflect any remaining guaranteed payments, if
any, and is determined using the same assumptions for mortality and interest as
the Payment Factors listed in this policy for Options 3-V and 5-V.

CB890                                Page 17

<PAGE>

                         GUARANTEED FIXED INCOME OPTIONS

The amounts shown in these tables are the guaranteed amounts for each 1,000 of
the proceeds. Higher curren_ amounts may be available at the time of settlement.

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------
 Option 2, Table I            Option 3, Table II     Option 3, Table III        Option 3, Table IV     Option 3, Table V
---------------------------------------------------------------------------------------------------------------------------
Number
  of      Amount of           Monthly Installment                            Monthly Installment For  Monthly Installment
 Years     Monthly            For Life No Period    Monthly Installment For   Life Guaranteed Return     For Life With
Payable  Installment               Certain           Life 10 Years Certain      of Policy Proceeds       Emergency Cash
---------------------------------------------------------------------------------------------------------------------------
                      Age*   Male   Female  Unisex   Male   Female  Unisex     Male   Female  Unisex   Male  Female  Unisex
---------------------------------------------------------------------------------------------------------------------------
<S>         <C>        <C>  <C>     <C>     <C>      <C>     <C>     <C>      <C>     <C>     <C>     <C>     <C>    <C>
                       50   $ 3.25  $ 3.13  $ 3.17   $3.23   $3.12   $3.16    $ 3.09  $ 3.03  $ 3.05  $2.98   $2.94  $2.95
                       51     3.31    3.19    3.23    3.29    3.18    3.21      3.14    3.08    3.10   3.03    2.98   3.00
                       52     3.38    3.25    3.29    3.36    3.24    3.27      3.20    3.13    3.15   3.08    3.03   3.05
                       53     3.45    3.31    3.35    3.42    3.30    3.34      3.25    3.18    3.20   3.13    3.08   3.09
   5        17.49      54     3.52    3.38    3.42    3.49    3.36    3.40      3.31    3.24    3.26   3.18    3.13   3.15
   6        14.72      55     3.60    3.45    3.50    3.57    3.43    3.47      3.37    3.29    3.31   3.24    3.18   3.20
   7        12.74      56     3.69    3.52    3.57    3.65    3.50    3.55      3.43    3.36    3.38   3.30    3.24   3.26
   8        11.25      57     3.77    3.60    3.65    3.73    3.58    3.63      3.50    3.42    3.44   3.35    3.30   3.31
   9        10.10      58     3.87    3.69    3.74    3.82    3.66    3.71      3.57    3.48    3.51   3.42    3.36   3.38
  10         9.18      59     3.97    3.77    3.83    3.91    3.74    3.79      3.64    3.55    3.58   3.48    3.42   3.44
  11         8.42      60     4.07    3.87    3.93    4.01    3.83    3.89      3.72    3.62    3.65   3.56    3.49   3.51
  12         7.80      61     4.19    3.97    4.03    4.12    3.92    3.98      3.80    3.70    3.73   3.63    3.56   3.58
  13         7.26      62     4.31    4.07    4.14    4.23    4.02    4.08      3.88    3.78    3.81   3.70    3.63   3.65
  14         6.81      63     4.44    4.18    4.26    4.34    4.13    4.19      3.97    3.86    3.89   3.78    3.71   3.73
  15         6.42      64     4.58    4.30    4.38    4.46    4.24    4.31      4.07    3.95    3.99   3.86    3.79   3.81
  16         6.07      65     4.72    4.43    4.52    4.59    4.35    4.43      4.16    4.05    4.08   3.95    3.88   3.90
  17         5.77      66     4.88    4.57    4.66    4.72    4.48    4.55      4.26    4.14    4.18   4.05    3.97   3.99
  18         5.50      67     5.05    4.71    4.81    4.86    4.61    4.69      4.37    4.25    4.29   4.14    4.06   4.09
  19         5.26      68     5.23    4.87    4.98    5.01    4.75    4.83      4.48    4.36    4.40   4.25    4.16   4.19
  20         5.04      69     5.42    5.04    5.15    5.16    4.89    4.97      4.61    4.47    4.51   4.35    4.27   4.29
                       70     5.63    5.22    5.34    5.32    5.05    5.13      4.72    4.59    4.63   4.46    4.38   4.40
                       71     5.84    5.42    5.54    5.48    5.21    5.29      4.85    4.72    4.76   4.58    4.50   4.52
                       72     6.07    5.63    5.76    5.65    5.38    5.46      5.00    4.86    4.90   4.70    4.62   4.64
                       73     6.32    5.86    6.00    5.82    5.56    5.64      5.14    5.00    5.04   4.83    4.75   4.78
                       74     6.59    6.11    6.25    6.00    5.74    5.82      5.29    5.15    5.19   4.97    4.89   4.92
                       75     6.87    6.38    6.52    6.18    5.94    6.01      5.47    5.32    5.37   5.12    5.04   5.06
                       76     7.17    6.66    6.81    6.37    6.13    6.21      5.62    5.49    5.53   5.26    5.20   5.21
                       77     7.50    6.98    7.13    6.55    6.34    6.40      5.81    5.68    5.72   5.42    5.34   5.37
                       78     7.85    7.32    7.47    6.74    6.54    6.61      5.99    5.85    5.89   5.58    5.51   5.52
                       79     8.22    7.68    7.84    6.93    6.75    6.81      6.18    6.06    6.10   5.74    5.68   5.70
                       80     8.62    8.08    8.24    7.12    6.96    7.01      6.41    6.29    6.33   5.91    5.87   5.88
                       81     9.05    8.51    8.67    7.30    7.17    7.21      6.62    6.49    6.53   6.09    6.06   6.08
                       82     9.51    8.98    9.14    7.48    7.37    7.40      6.85    6.76    6.79   6.31    6.27   6.28
                       83    10.00    9.49    9.64    7.65    7.57    7.59      7.09    6.99    7.02   6.52    6.48   6.49
                       84    10.52   10.04   10.18    7.82    7.75    7.77      7.35    7.25    7.28   6.74    6.70   6.71
                       85    11.09   10.63   10.77    7.97    7.93    7.94      7.63    7.58    7.60   6.97    6.94   6.97
                       86                             8.12    8.09    8.10      7.94    7.87    7.89
                       87                             8.26    8.24    8.24      8.20    8.20    8.20
                       88                             8.38    8.37    8.38      8.55    8.47    8.49
                       89                             8.50    8.49    8.50      8.85    8.85    8.85
                       90                             8.61    8.60    8.60      9.17    9.17    9.17
                       91                             8.70    8.70    8.70      9.62    9.62    9.62
                       92                             8.79    8.79    8.79     10.00   10.00   10.00
                       93                             8.87    8.86    8.86     10.42   10.42   10.42
                       94                             8.93    8.93    8.93     10.87   10.87   10.87
                       95                             8.99    8.99    8.99     11.36   11.36   11.36
---------------------------------------------------------------------------------------------------------------------------
</TABLE>

*Adjusted Age as defined in Section 10.A.

Dollar amounts of monthly, quarterly, semi-anual and installments not shown in
the above tables will be calculated on the same basis as those shown and may be
obtained from the Company (if the option is available based on Adjusted Age as
described in Section 10).

943                                  Page 18

<PAGE>

                               Option 5, Table VI
                 Monthly Installment For Joint and Full Survivor

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
                                Adjusted Age of Female Annuitant*
Adjusted Age   -------------------------------------------------------------------------------
     of         15 Years    12 Years    9 Years     6 Years     3 Years               3 Years
    Male       Less Than   Less Than   Less Than   Less Than   Less Than   Same As   More Than
 Annuitant*       Male        Male        Male        Male        Male       Male       Male
----------------------------------------------------------------------------------------------
<S>              <C>         <C>         <C>         <C>         <C>        <C>        <C>
     50          $2.47       $2.54       $2.61       $2.68       $2.75      $2.81      $2.88
     55           2.62        2.70        2.79        2.88        2.97       3.06       3.14
     60           2.80        2.91        3.02        3.13        3.25       3.37       3.48
     65           3.04        3.17        3.32        3.47        3.63       3.79       3.95
     70           3.34        3.52        3.71        3.92        4.14       4.37       4.59
     75           3.73        3.98        4.25        4.54        4.86       5.18       5.49
     80           4.27        4.61        5.00        5.42        5.88       6.34       6.79
     85           5.01        5.51        6.07        6.69        7.35       8.01       8.63
----------------------------------------------------------------------------------------------
</TABLE>

             Monthly Installment For Unisex Joint and Full Survivor

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
                                Adjusted Age of Joint Annuitant*
Adjusted Age   -------------------------------------------------------------------------------
    of          15 Years    12 Years    9 Years     6 Years     3 Years               3 Years
   First       Less Than   Less Than   Less Than   Less Than   Less Than   Same As   More Than
 Annuitant*      First       First       First       First       First      First      First
----------------------------------------------------------------------------------------------
<S>              <C>         <C>         <C>         <C>         <C>        <C>        <C>
     50          $2.48       $2.54       $2.61       $2.68       $2.75      $2.81      $2.87
     55           2.63        2.71        2.79        2.88        2.96       3.05       3.12
     60           2.81        2.92        3.02        3.14        3.25       3.36       3.46
     65           3.05        3.18        3.33        3.47        3.62       3.77       3.91
     70           3.36        3.53        3.73        3.93        4.13       4.34       4.53
     75           3.76        4.01        4.27        4.56        4.85       5.14       5.42
     80           4.32        4.66        5.04        5.46        5.87       6.30       6.70
     85           5.09        5.58        6.13        6.73        7.36       7.97       8.54
----------------------------------------------------------------------------------------------
</TABLE>

                               Option 5, Table VII
             Monthly Installment For Unisex Joint and Full Survivor
                           (Life with Emergency Cash)

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
                                Adjusted Age of Joint Annuitant*
Adjusted Age   -------------------------------------------------------------------------------
     of         15 Years    12 Years    9 Years     6 Years     3 Years               3 Years
    Male       Less Than   Less Than   Less Than   Less Than   Less Than   Same As   More Than
 Annuitant*       Male        Male        Male        Male        Male       Male       Male
----------------------------------------------------------------------------------------------
<S>              <C>         <C>         <C>         <C>         <C>        <C>        <C>
     50          $2.43       $2.49       $2.55       $2.62       $2.69      $2.76      $2.81
     55           2.56        2.63        2.72        2.80        2.89       2.97       3.04
     60           2.72        2.81        2.92        3.02        3.14       3.25       3.33
     65           2.92        3.04        3.17        3.31        3.45       3.60       3.70
     70           3.16        3.32        3.49        3.67        3.86       4.05       4.19
     75           3.48        3.68        3.90        4.14        4.39       4.63       4.81
     80           3.87        4.14        4.44        4.76        5.07       5.38       5.61
     85           4.39        4.74        5.13        5.54        5.95       6.37       6.65
----------------------------------------------------------------------------------------------
</TABLE>

             Monthly Installment For Unisex Joint and Full Survivor
                           (Life with Emergency Cash)

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
                                      Adjusted Age of Joint Annuitant*
Adjusted Age   -------------------------------------------------------------------------------
    of         15 Years    12 Years     9 Years     6 Years     3 Years               3 Years
   First       Less Than   Less Than   Less Than   Less Than   Less Than   Same As   More Than
 Annuitant*      First       First       First       First       First      First      First
----------------------------------------------------------------------------------------------
<S>              <C>         <C>         <C>         <C>         <C>        <C>        <C>
     50          $2.43       $2.49       $2.56       $2.62       $2.69      $2.75      $2.80
     55           2.56        2.64        2.72        2.80        2.89       2.97       3.03
     60           2.73        2.82        2.92        3.03        3.13       3.24       3.31
     65           2.93        3.05        3.18        3.31        3.45       3.59       3.69
     70           3.18        3.33        3.50        3.68        3.86       4.04       4.16
     75           3.50        3.70        3.92        4.15        4.40       4.62       4.79
     80           3.90        4.17        4.46        4.78        5.08       5.37       5.58
     85           4.42        4.77        5.16        5.55        5.97       6.37       6.62
----------------------------------------------------------------------------------------------
</TABLE>

*Adjusted Age as defined in Section 10.A.

Dollar amounts of monthly, quarterly, semi-annual and annual installments not
shown in the above tables will be calculated on the same basis as those shown
and may be obtained from the Company (if the option is available based on
Adjusted Age as described in Section 10).

TB943                                Page 19

<PAGE>

                             VARIABLE INCOME OPTIONS
                       BASED ON ASSUMED INVESTMENT RETURN

The amounts shown in these table are the initial payment amounts based on a 5.0%
           Assumed Investment Return for each $1,000 of the proceeds.

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
           Option 3-V, Table II           Option 3-V, Table III          Option 3-V, Table IV
-------------------------------------------------------------------------------------------------
       Monthly Installment for Life   Monthly Installment for Life   Monthly Installment for Life
             No Period Certain              10 Years Certain            With Emergency Cash
-------------------------------------------------------------------------------------------------
Age*      Male    Female   Unisex        Male    Female   Unisex         Male   Female   Unisex
-------------------------------------------------------------------------------------------------
<S>      <C>      <C>      <C>          <C>      <C>      <C>           <C>      <C>      <C>
 50      $ 5.07   $ 4.93   $ 4.98       $ 5.04   $ 4.92   $ 4.95        $4.83    $4.76    $4.78
 51        5.13     4.99     5.03         5.09     4.96     5.00         4.87     4.80     4.82
 52        5.19     5.04     5.08         5.15     5.01     5.05         4.92     4.84     4.86
 53        5.26     5.10     5.14         5.21     5.07     5.11         4.96     4.88     4.91
 54        5.33     5.16     5.21         5.27     5.12     5.17         5.01     4.93     4.95
 55        5.40     5.22     5.27         5.34     5.18     5.23         5.06     4.98     5.00
 56        5.48     5.29     5.35         5.41     5.25     5.30         5.12     5.03     5.05
 57        5.57     5.36     5.42         5.49     5.32     5.37         5.18     5.08     5.11
 58        5.66     5.44     5.50         5.57     5.39     5.44         5.24     5.14     5.17
 59        5.75     5.52     5.59         5.66     5.47     5.52         5.31     5.20     5.23
 60        5.85     5.61     5.68         5.75     5.55     5.61         5.37     5.26     5.29
 61        5.97     5.70     5.78         5.85     5.63     5.70         5.45     5.33     5.37
 62        6.09     5.81     5.89         5.95     5.72     5.79         5.53     5.40     5.44
 63        6.21     5.91     6.00         6.06     5.82     5.89         5.61     5.48     5.52
 64        6.35     6.03     6.13         6.17     5.92     6.00         5.70     5.56     5.60
 65        6.50     6.16     6.26         6.29     6.03     6.11         5.79     5.65     5.69
 66        6.66     6.29     6.40         6.42     6.15     6.23         5.89     5.75     5.79
 67        6.83     6.43     6.55         6.55     6.27     6.36         6.00     5.85     5.89
 68        7.01     6.59     6.71         6.69     6.40     6.49         6.11     5.96     6.00
 69        7.21     6.76     6.89         6.83     6.54     6.63         6.23     6.07     6.12
 70        7.41     6.94     7.08         6.98     6.69     6.77         6.36     6.20     6.25
 71        7.63     7.14     7.28         7.13     6.84     6.93         6.49     6.33     6.38
 72        7.87     7.35     7.50         7.28     7.00     7.09         6.63     6.46     6.52
 73        8.12     7.58     7.74         7.45     7.17     7.25         6.78     6.62     6.66
 74        8.39     7.83     8.00         7.61     7.34     7.42         6.94     6.78     6.83
 75        8.68     8.11     8.28         7.78     7.52     7.60         7.11     6.95     7.00
 76        8.99     8.40     8.58         7.95     7.71     7.78         7.29     7.13     7.18
 77        9.32     8.72     8.90         8.12     7.90     7.97         7.47     7.33     7.36
 78        9.68     9.07     9.25         8.29     8.09     8.16         7.68     7.52     7.57
 79       10.06     9.45     9.63         8.47     8.29     8.34         7.88     7.74     7.79
 80       10.47     9.85    10.04         8.64     8.48     8.53         8.11     7.98     8.01
 81       10.91    10.30    10.48         8.80     8.67     8.71         8.34     8.23     8.26
 82       11.38    10.78    10.96         8.97     8.86     8.89         8.60     8.48     8.53
 83       11.88    11.30    11.47         9.12     9.04     9.06         8.84     8.75     8.77
 84       12.42    11.87    12.03         9.27     9.21     9.23         9.09     9.01     9.05
 85       12.99    12.48    12.63         9.41     9.37     9.38         9.35     9.31     9.32
 86                                       9.54     9.51     9.52
 87                                       9.67     9.65     9.65
 88                                       9.78     9.77     9.77
 89                                       9.89     9.88     9.88
 90                                       9.98     9.98     9.98
 91                                      10.07    10.07    10.07
 92                                      10.15    10.15    10.15
 93                                      10.22    10.22    10.22
 94                                      10.28    10.28    10.28
 95                                      10.34    10.33    10.33
-------------------------------------------------------------------------------------------------
</TABLE>

#Adjusted Age as defined in Section 10.A.

Dollar amounts of monthly, quarterly, semi-annual, and annual installments not
shown in the above tables will be calculated on the same basis as those shown
and may be obtained from the Company (if the option is available based on
Adjusted Age as described in Section 10).

H1173                                Page 20

<PAGE>

                               Option 5V, Table V

                Monthly Installment For Joint and Full Survivor

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
                                      Adjusted Age of Female Annuitant*
Adjusted Age   -------------------------------------------------------------------------------
     of        15 Years    12 Years     9 Years     6 Years     3 Years               3 Years
    Male       Less Than   Less Than   Less Than   Less Than   Less Than   Same As   More Than
 Annuitant*      Male        Male        Male        Male        Male        Male      Male
----------------------------------------------------------------------------------------------
<S>              <C>         <C>         <C>         <C>         <C>        <C>       <C>
     50          $4.37       $4.42       $4.46       $4.51       $4.56      $4.62     $ 4.67
     55           4.48        4.54        4.60        4.67        4.74       4.81       4.88
     60           4.62        4.70        4.79        4.88        4.98       5.08       5.18
     65           4.81        4.92        5.04        5.17        5.31       5.46       5.61
     70           5.07        5.23        5.40        5.59        5.79       6.00       6.22
     75           5.43        5.65        5.90        6.18        6.48       6.79       7.11
     80           5.94        6.26        6.63        7.04        7.49       7.95       8.40
     85           6.67        7.15        7.70        8.31        8.97       9.63      10.26
----------------------------------------------------------------------------------------------
</TABLE>

             Monthly Installment For Unisex Joint and Full Survivor

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
                                      Adjusted Age of Joint Annuitant*
Adjusted Age   -------------------------------------------------------------------------------
     of        15 Years    12 Years     9 Years     6 Years     3 Years               3 Years
    First      Less Than   Less Than   Less Than   Less Than   Less Than   Same As   More Than
 Annuitant*      First       First       First       First       First      First      First
----------------------------------------------------------------------------------------------
<S>              <C>         <C>         <C>         <C>         <C>        <C>       <C>
     50          $4.38       $4.42       $4.47       $4.51       $4.56      $4.61     $ 4.66
     55           4.48        4.54        4.60        4.67        4.73       4.80       4.87
     60           4.63        4.70        4.79        4.88        4.97       5.07       5.16
     65           4.82        4.93        5.05        5.17        5.30       5.44       5.57
     70           5.09        5.24        5.41        5.59        5.78       5.97       6.16
     75           5.46        5.68        5.93        6.19        6.47       6.75       7.03
     80           5.99        6.31        6.67        7.07        7.48       7.90       8.30
     85           6.75        7.23        7.76        8.35        8.97       9.59      10.17
----------------------------------------------------------------------------------------------
*Adjusted Age as defined in Section 10.A
----------------------------------------------------------------------------------------------
</TABLE>

                              Option 5V, Table VI

   Monthly Installment For Joint and Full Survivor (Life with Emergency Cash)

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
                                      Adjusted Age of Female Annuitant*
Adjusted Age   -------------------------------------------------------------------------------
     of        15 Years    12 Years     9 Years     6 Years     3 Years               3 Years
    Male       Less Than   Less Than   Less Than   Less Than   Less Than   Same As   More Than
 Annuitant*      Male        Male        Male        Male        Male        Male      Male
----------------------------------------------------------------------------------------------
<S>              <C>         <C>         <C>         <C>         <C>        <C>        <C>
     50          $4.34       $4.38       $4.42       $4.47       $4.51      $4.57      $4.61
     55           4.43        4.48        4.54        4.60        4.67       4.74       4.79
     60           4.55        4.62        4.70        4.78        4.88       4.97       5.05
     65           4.71        4.80        4.91        5.03        5.16       5.30       5.41
     70           4.92        5.05        5.21        5.38        5.56       5.76       5.91
     75           5.21        5.40        5.61        5.86        6.12       6.40       6.61
     80           5.61        5.88        6.19        6.53        6.90       7.29       7.56
     85           6.16        6.54        6.98        7.46        7.95       8.41       8.76
----------------------------------------------------------------------------------------------
</TABLE>

             Monthly Installment For Unisex Joint and Full Survivor
                           (Life with Emergency Cash)

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
                                      Adjusted Age of Joint Annuitant*
Adjusted Age   -------------------------------------------------------------------------------
     of        15 Years    12 Years     9 Years     6 Years     3 Years               3 Years
    First      Less Than   Less Than   Less Than   Less Than   Less Than   Same As   More Than
 Annuitant*      First       First       First       First       First      First      First
----------------------------------------------------------------------------------------------
<S>              <C>         <C>         <C>         <C>         <C>        <C>        <C>
     50          $4.34       $4.38       $4.42       $4.47       $4.51      $4.56      $4.60
     55           4.43        4.48        4.54        4.60        4.67       4.73       4.78
     60           4.55        4.62        4.70        4.78        4.87       4.96       5.03
     65           4.71        4.81        4.92        5.03        5.16       5.29       5.38
     70           4.93        5.07        5.22        5.38        5.56       5.74       5.87
     75           5.23        5.42        5.63        5.87        6.12       6.38       6.56
     80           5.64        5.91        6.21        6.55        6.90       7.26       7.51
     85           6.21        6.58        7.02        7.48        7.97       8.41       8.74
----------------------------------------------------------------------------------------------
*Adjusted Age as defined in Section 10.A
----------------------------------------------------------------------------------------------
</TABLE>

Dollar amounts of monthly, quarterly, semi-annual, and annual installments not
shown in the above tables will be calculated on the same basis as those shown
and may be obtained from the Company (if the option is available based on
Adjusted Age as described in Section 10).

J1173                                Page 21

<PAGE>

                         SECTION 11 - GENERAL PROVISIONS

THE CONTRACT

The entire contract consists of this policy, endorsements, and riders, if any.

MODIFICATION OF POLICY

No change in this policy is valid unless made in writing by us and approved by
one of our officers. No Registered Representative has authority to change or
waive any provision of Your policy.

TAX QUALIFICATION

This policy is intended to qualify as an annuity contract for federal income tax
purposes. The provisions of this policy are to be interpreted to maintain such
qualification, notwithstanding any other provisions to the contrary. To maintain
such tax qualification, we reserve the right to amend this policy to reflect any
clarifications that may be needed or are appropriate to maintain such tax
qualification or to conform this policy to any applicable changes in the tax
qualification requirements. We will send You a copy in the event of any such
amendment. If You refuse such an amendment it must be by giving us written
notice, and Your refusal may result in adverse tax consequences.

NON-PARTICIPATING

This policy will not share in our surplus earnings.

AGE OR SEX CORRECTIONS

If the age or sex of the Annuitant has been misstated, the benefits will be
those, which the premiums paid, would have purchased for the correct age and
sex. If required by law to ignore differences in the sex of the Annuitant, the
annuity payments will be determined using the unisex factors in Section 10.

Any underpayment made by us will be paid with the next payment. Any overpayment
made by us will be deducted from future payments. Any underpayment or
overpayment, will include interest at 5% per year, from the date of the wrong
payment to the date of the adjustment.

INCONTESTABILITY

This policy shall be incontestable from the Policy Date.

EVIDENCE OF SURVIVAL

We have the right to require satisfactory evidence that a person was alive if a
payment is based on that person being alive. No payment will be made until we
receive the evidence.

SETTLEMENT

Any payment by us under this policy is payable at our Home Office.

RIGHTS OF OWNER

The owner may, while the Annuitant is living:
     1.   Assign this policy.
     2.   Surrender the policy to us.
     3.   Amend or modify the policy with our consent.
     4.   Receive annuity payments or name a Payee to receive the payments.
     5.   Exercise, receive and enjoy every other right and benefit contained in
          the policy.

The use of these rights may be subject to the consent of any assignee or
irrevocable beneficiary; and of the spouse in a community or marital
property state.

Unless we have been notified of a community or marital property interest in this
policy, we will rely on our good faith belief that no such interest exists and
will assume no responsibility for inquiry.

SUCCESSOR OWNER

A successor owner will be the new owner as described in Section 9, C, II.

CHANGE OF OWNERSHIP

In the case of a non-tax-qualified annuity, You can change the owner of this
policy, from yourself to a new owner, in a notice You sign which gives us the
facts that we need. When this change takes effect, all rights of ownership in
this policy will pass to the new owner.

A change of owner will not be effective until it is recorded in our records.
After it has been so recorded, the change will take effect as of the date You
signed the notice. However, if the Annuitant dies before the notice has been so
recorded, it will not be effective as to those proceeds we have paid before the
change was recorded in our records.

We may require that the change be endorsed in the policy. Changing the owner
does not change the beneficiary or the Annuitant.

A change of ownership may result in adverse tax consequences.

ANNUITY COMMENCEMENT DATE

The Annuity Commencement Date is the date annuity payments begin. In no event
can this date be later than the last day of the policy month following the
month in which the Annuitant attains age 95. You may change the Annuity
Commencement Date at any time before the Annuity Commencement Date by giving us
30 days' written notice.

R205                                 Page 22

<PAGE>

                             SECTION 11 - CONTINUED

ASSIGNMENT

(a)  In the case of a non tax-qualified annuity, this Policy may be assigned.
     The assignment must be in writing and filed with us.

(b)  We assume no responsibility for the validity of any assignment. Any claim
     made under an assignment shall be subject to proof of interest and the
     extent of the assignment.

(c)  This policy may be applied for and issued to qualify as a tax-qualified
     annuity under certain sections of the Internal Revenue Code. Ownership of
     this policy is then restricted so that it will comply with provisions of
     the Internal Revenue Code.

Assignment of this policy may result in adverse tax consequences.

BENEFICIARY

Death proceeds, when payable in accordance with Section 9, are payable to the
designated beneficiary or beneficiaries. Such beneficiary(ies) must be named and
may be changed without consent (unless irrevocably designated or required by
law) by notifying us in writing on a form acceptable to us. The change will take
effect upon the date You sign it, whether or not You are living when we receive
it. The notice must have been postmarked (or show other evidence of delivery
that is acceptable to us) on or before the date of death. Your most recent
change of beneficiary notice will replace any prior beneficiary designations. No
change will apply to any payment we made before the written notice was received.
If an irrevocable beneficiary dies, You may designate a new beneficiary.

You may direct that the beneficiary shall not have the right to withdraw, assign
or commute any sum payable under an option. In the absence of such election or
direction, the beneficiary may change the manner of payment or make an election
of any option.

If any primary or contingent beneficiary dies before the Annuitant, that
beneficiary's interest in this policy ends with that beneficiary's death. Only
those beneficiaries living at the time of the Annuitant's death will be eligible
to receive their share of the death proceeds. In the event no primary or
contingent beneficiaries have been named and all primary beneficiaries have died
before the death proceeds become payable, the owner(s) will become the
beneficiary(ies) unless elected otherwise in accordance with Section 9. If both
primary and contingent beneficiaries have been named, payment will be made to
the named primary beneficiaries living at the time the death proceeds become
payable. If there is more than one beneficiary and You failed to specify their
interest, they will share equally. Payment will be made to the named contingent
beneficiary(ies) only, if all primary beneficiaries have died before the death
proceeds become payable. If any primary beneficiary is alive at the time the
death proceeds become payable, but dies before receiving their payment, their
share will be paid to their estate.

PROTECTION OF PROCEEDS

Unless You so direct by filing written notice with us, no beneficiary may assign
any payments under this policy before the same are due. To the extent permitted
by law, no payments under this policy will be subject to the claims of creditors
of any beneficiary.

DEFERMENT

We will pay any partial Withdrawals or Surrender proceeds from the Separate
Account within 7 days after we receive all requirements that we need. However,
it may happen that the New York Stock Exchange is closed for trading (other than
the usual weekend or holiday closings), or the Securities and Exchange
Commission restricts trading or determines that an emergency exists. If so, it
may not be practical for us to determine the investment experience of the
Separate Account. In that case, we may defer transfers among the Subaccounts and
to the Fixed Account, and determination or payment of partial Withdrawals or
Surrender proceeds.

When permitted by law, we may defer paying any partial Withdrawals or Surrender
proceeds from the Fixed Account for up to 6 months from the date we receive Your
request. If the owner dies after the request is received, but before the request
is processed, the request will be processed before the death proceeds are
determined. Interest will be paid on any amount deferred for 30 days or more.
This rate will be the Fixed Account Guaranteed Minimum Effective Annual Interest
Rate shown on Page 3, unless otherwise required by law.

REPORTS TO OWNER

We will give You an annual report at least once each Policy Year. This report
will show the number and value of the accumulation units held in each of the
Subaccounts as well as the value of the Fixed Account. It will also give You the
Death Benefit, Cash Value, and any other facts required by law or regulation.

RB205                                Page 23

<PAGE>

[LOGO](R) Transamerica Life                           Home Office:
          Insurance Company                           [4333 Edgewood Road N.E.]
          A Stock Company (Hereafter called           [Cedar Rapids, Iowa 52499]
          the Company, we, our or us)                 [(319)398-8511]

                                      INDEX

                                                                            Page
                                                                            ----
Accumulation Units ........................................................    9
Age or Sex Corrections ....................................................   22
Annuity Commencement Date .................................................   22
Annuity Payments ..........................................................   14
Adjusted Policy Value .....................................................    4
Assignment ................................................................   23
Beneficiary ...............................................................   23
Cash Value ................................................................    5
Contract ..................................................................   22
Death Proceeds ....................................................   12, 13, 14
Definitions ...............................................................    2
Dollar Cost Averaging Option ..............................................   11
Evidence of Survival ......................................................   22
Excess Interest Adjustment ................................................    5
Fixed Account .............................................................   10
Guaranteed Minimum Death Benefit ..........................................   12
Guaranteed Return of Fixed Account Premium Payments .......................    8
Guaranteed Period Options .................................................   10
Incontestability ..........................................................   22
Income Option Tables ..........................................   18, 19, 20, 21
Modification of Policy ....................................................   22
Non-participating .........................................................   22
Option to Change Annuity Commencement Date ................................   22
Partial Withdrawals .......................................................    6
Payee .....................................................................   15
Payment of Premiums .......................................................    4
Policy Data Page ..........................................................    3
Policy Value ..............................................................    4
Proof of Age ..............................................................   15
Protection of Proceeds ....................................................   23
Right to Cancel ...........................................................    1
Rights of Owner ...........................................................   22
Separate Account ........................................................   8, 9
Service Charge ............................................................    4
Settlement ................................................................   22
Transfers .............................................................   10, 11

                   Flexible Premium Deferred Variable Annuity
                   Income Payable At Annuity Commencement Date
            Benefits Based On The Performance Of The Separate Account
Are Variable And Are Not Guaranteed As To Dollar Amount (See Sections 6 and 10C)
                                Non-Participating

Y873<PAGE>

                                 EXHIBIT (4)(b)

                              FORM OF POLICY RIDER
                               (RETURN OF PREMIUM)

<PAGE>

                                                      Home Office:
                                                      [4333 Edgewood Road N.E.]
[LOGO](R) Transamerica Life                           [Cedar Rapids, Iowa 52499]
          Insurance Company                           [(319)398-8511]
          A Stock Company (Hereafter called the Company, we, our or us)

                               DEATH BENEFIT RIDER

The Guaranteed Minimum Death Benefit provision in the Death Proceeds Section of
the policy to which this Rider is attached, is amended to include the addition
of the following language:

The amount of this Guaranteed Minimum Death Benefit is equal to [1OO%] of the
total premiums paid for this policy, less any Adjusted Partial Withdrawals (as
described below), as of the date of death.

A partial withdrawal will reduce the Guaranteed Minimum Death Benefit by an
amount referred to as the "Adjusted Partial Withdrawal". The Adjusted Partial
Withdrawal may be a different amount than the Gross Partial Withdrawal. If at
the time of the partial withdrawal, the Policy Value is greater than or equal to
the Death Proceeds, the Adjusted Partial Withdrawal will equal the Gross Partial
Withdrawal. If at the time of the partial withdrawal, the Policy Value is less
than the Death Proceeds, the Adjusted Partial Withdrawal will be greater than
the Gross Partial Withdrawal.

The Adjusted Partial Withdrawal is equal to the Gross Partial Withdrawal
multiplied by the Death Proceeds immediately prior to the partial withdrawal
divided by the Policy Value immediately prior to the partial withdrawal. The
formula is APW = GPW x (DP/PV) where:

GPW  = Gross Partial Withdrawal
DP   = Death Proceeds prior to the partial withdrawal = greatest of (PV, CV,
       or GMDB)
PV   = Policy Value prior to the partial withdrawal
GMDB = Guaranteed Minimum Death Benefit prior to the partial withdrawal
CV   = Cash Value prior to the partial withdrawal

This Rider is effective on the Policy Date and can only be terminated when the
policy to which this Rider is attached terminates. This Rider is subject to all
the terms and conditions of the policy not inconsistent herewith.

                        Signed for us at our home office.

             /s/ Illegible                             /s/ Illegible
           -----------------                         -----------------
              SECRETARY                                   PRESIDENT

RGMD 8 0603

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