Document:

<PAGE>
                                                                    Exhibit 4(e)

                      AIG SUNAMERICA LIFE ASSURANCE COMPANY

                 OPTIONAL GUARANTEED MINIMUM WITHDRAWAL BENEFIT
                                   ENDORSEMENT

Notwithstanding any provision in the Contract or Certificate ("Contract") to the
contrary, this Endorsement becomes a part of the Contract to which it is
attached. Should any provision in this Endorsement conflict with the Contract,
the provisions of this Endorsement will prevail.

Subject to the terms and conditions set forth herein this optional Endorsement
provides a Guaranteed Minimum Withdrawal Benefit ("GMWB") over the lifetime of
the Covered Person(s). You may take Withdrawals under the GMWB as prescribed by
this Endorsement herein while this Endorsement is in effect.

                             ENDORSEMENT DATA PAGE

<Table>

<S>                                                        <C>          <C>           <C>

COVERED PERSON(S):                                         John Doe
                                                           Jane Doe

ENDORSEMENT EFFECTIVE DATE:                                [March 1, 2007]

BONUS ELECTED:                                             [Yes]

                                                           -------------------------------------------------------------------
ELIGIBLE PURCHASE PAYMENTS:                                CONTRACT     PERCENTAGE    MAXIMUM ANNUAL ELIGIBLE PURCHASE
                                                           YEAR(s)      INCLUDED      PAYMENT
                                                           ------------ ------------- ----------------------------------------
                                                           [1]          [100%]        Eligible Purchase Payment Limit
                                                           ------------ ------------- ----------------------------------------
                                                           [2-5]        [100%]        In each Contract Year [100%] of
                                                                                      Purchase Payments made in Contract
                                                                                      Year[1 (one)]not to exceed Eligible
                                                                                      Purchase Payment Limit
                                                           ------------ ------------- ----------------------------------------
                                                           [6+]         [0%]          In each Contract Year [0% ]of Purchase
                                                                                      Payments made in Contract Year
                                                                                      [1(one)] not to exceed Eligible
                                                                                      Purchase Payment Limit
                                                           -------------------------------------------------------------------

ELIGIBLE PURCHASE PAYMENT LIMIT:                           The sum of Eligible Purchase Payments cannot exceed [$1,000,000]
                                                           without prior Company approval

GMWB                                                       CHARGE: Annual fee of [0.80%] of the [Benefit Base] deducted [quarterly]
                                                           from Contract Value [allocated to the Variable Portfolio(s) or
                                                           Subaccounts(s)] beginning [one] [quarter] following the Endorsement
                                                           Effective Date and ending on the termination of this Endorsement.

BENEFIT BASE EVALUATION PERIOD:                            Beginning on the Endorsement Effective Date and ending [10] years
                                                           later

[BONUS PERCENTAGE:]                                        [5%]

[BONUS PERIOD:]                                            [Beginning on the Endorsement Effective Date and ending [10]
                                                           years later]

[BONUS AVAILABILITY:]                                      [[At the end of each] Benefit Year during the Bonus Period[ if
                                                           Withdrawals were not made during that same Benefit Year]]

[GUARANTEED MINIMUM BENEFIT BASE ]                         [[160%] of [Eligible Purchase Payments]]
</Table>

MAXIMUM ANNUAL WITHDRAWAL PERCENTAGE ("MAWP"):
<Table>
<S>                                       <C>
----------------------------------------- ---------
AGE AT FIRST WITHDRAWAL                   MAWP
----------------------------------------- ---------
[At least Age 45 but less than Age 55]    [3.5%]
----------------------------------------- ---------
[At least Age 55 but less than Age 62]    [4%]
----------------------------------------- ---------
[At least Age 62 but less than Age 65]    [4.5%]
----------------------------------------- ---------
[At least Age 65 but less than Age 70]    [5%]
----------------------------------------- ---------
[At least Age 70 but less than Age 75]    [5.5%]
----------------------------------------- ---------
[Age 75 and over]                         [6%]
----------------------------------------- ---------
</Table>

                                       1

<PAGE>

                                   DEFINITIONS

For purposes of this Endorsement, the following definitions apply. Terms not
defined in this Endorsement shall have the same meaning as defined in the
Contract.

AGE
The attained age as of the Covered Person's last birthday. If there are two
Covered Persons on the Endorsement Data Page, the Age of the younger Covered
Person or the lone surviving Covered Person as of their last birthday.

ANNIVERSARY VALUE
The Contract Value including any applicable Payment Enhancement(s) or Spousal
Beneficiary continuation contribution minus any Ineligible Purchase Payments, as
measured on each Benefit Year anniversary.

BENEFIT BASE
A component of the calculation of the GMWB, which is used to determine the GMWB
Charge and the Maximum Annual Withdrawal Amount.

BENEFIT BASE EVALUATION PERIOD
The period of time over which Anniversary Values are considered in determining
the Benefit Base.

BENEFIT YEAR
Each consecutive one year period starting on the Endorsement Effective Date.

BONUS
An amount that may be added to the Benefit Base during the Bonus Period.

BONUS BASE
A component of the calculation of the GMWB, which is used to determine the
dollar amount of any Bonus during the Bonus Period.

BONUS PERIOD
The period of time over which a Bonus may be added to the Benefit Base.

COVERED PERSON(S)
The person(s) named on the Endorsement Data Page whose lives are used to
determine the amount and duration of Withdrawals under this Endorsement.

ELIGIBLE PURCHASE PAYMENTS
[Gross] Purchase Payments or portion thereof made on or after the Endorsement
Effective Date as shown on the Endorsement Data Page that are included in the
calculation of the Benefit Base. If this Endorsement is added after the Contract
Date, for purposes of determining the Benefit Base, the Contract Value on the
Endorsement Effective Date is considered the initial Eligible Purchase Payment.
Purchase Payments added prior to the Endorsement Effective Date are not
considered Eligible Purchase Payments. The calculation of Eligible Purchase
Payments does not include [Payment Enhancements, if any, or] Spousal Beneficiary
continuation contributions.

ENDORSEMENT EFFECTIVE DATE
The date when this Endorsement becomes effective as shown on the Endorsement
Data Page.

EXCESS WITHDRAWAL
A Withdrawal or the portion thereof that: (a) causes the total of all
Withdrawals for that Benefit Year to exceed the Maximum Annual Withdrawal
Amount; or (b) is taken after the Maximum Annual Withdrawal Amount has been
withdrawn, except if taken to meet the Required Minimum Distribution associated
with only the Contract to which this Endorsement is attached.

INELIGIBLE PURCHASE PAYMENTS
[Gross] Purchase Payments or portions thereof that are not included in the
calculation of the Benefit Base.

MAXIMUM ANNUAL WITHDRAWAL AMOUNT ("MAWA")
The maximum dollar amount available to be withdrawn each Benefit Year under the
GMWB without reducing the Benefit Base and the Bonus Base.

                                       2

<PAGE>

MAXIMUM ANNUAL WITHDRAWAL PERCENTAGE ("MAWP")
The percentage used to determine the MAWA available for withdrawal each Benefit
Year under this Endorsement.

YOU, YOUR
The Covered Person(s) under this Endorsement.

                GUARANTEED MINIMUM WITHDRAWAL BENEFIT PROVISIONS

The Guaranteed Minimum Withdrawal Benefit described in this Endorsement provides
for guaranteed Withdrawals over the lifetime of the Covered Person(s), subject
to the following provisions:

GMWB CHARGE
The GMWB Charge percentage applicable to this Endorsement is as shown on the
Endorsement Data Page. If You surrender Your Contract and this Endorsement has
not been terminated, We will deduct a proportionate charge for the period of
time between the date of the last GMWB charge up to and including the date of
surrender.

CALCULATION OF THE COMPONENTS OF THE GMWB
The MAWA guaranteed under this Endorsement may change over time as a result of
increases or decreases in the Benefit Base as described below.

To determine the GMWB when the Bonus is not available, We use the following
components: Benefit Base Evaluation Period, Benefit Base, MAWP and MAWA. To
determine the GMWB when the Bonus is available, the following additional
components are used: Bonus Period, Bonus Base and Bonus Percentage. The
calculations for each component are detailed below.

BENEFIT BASE
If the GMWB is elected on the Contract Date, the initial Benefit Base is the
initial Eligible Purchase Payment. If the GMWB is elected after the Contract
Date, the initial Benefit Base is equal to the Contract Value on the Endorsement
Effective Date, which is subject to the Eligible Purchase Payment Limit shown on
the Endorsement Data Page. In each subsequent Benefit Year, the Benefit Base
equals the Benefit Base at the beginning of that Benefit Year plus any
subsequent Eligible Purchase Payments made during that Benefit Year, less
adjustments for Excess Withdrawals that occurred during that Benefit Year. The
Benefit Base is determined as detailed below and is not used in the calculation
of Contract Value or any other benefits under the Contract. On Benefit Year
anniversaries during the Benefit Base Evaluation Period, We determine if the
Benefit Base should be increased based on the maximum Anniversary Value or any
available Bonus. The calculation and components of this determination are
detailed below.

         CALCULATION OF THE BENEFIT BASE WHEN BONUS IS NOT AVAILABLE OR AFTER
         BONUS PERIOD

         The Benefit Base on each Benefit Year anniversary is based on the
         maximum Anniversary Value. Maximum Anniversary Value equals the highest
         Anniversary Value on any Benefit Year anniversary occurring during the
         Benefit Base Evaluation Period. On each Benefit Year anniversary
         occurring during the Benefit Base Evaluation Period, the Benefit Base
         is automatically increased to the Anniversary Value when the
         Anniversary Value is greater than both (a) and (b), where:

               (a) is the current Benefit Base; and

               (b) is all previous maximum Anniversary Values during the
                   Benefit Base Evaluation Period.

         CALCULATION OF THE BENEFIT BASE WHEN BONUS IS AVAILABLE

         The Bonus Base is used to calculate the amount of the Bonus during the
         Bonus Period. The Bonus amount is determined by multiplying the Bonus
         Percentage shown on the Endorsement Data Page by the Bonus Base. The
         initial Bonus Base is equal to the initial Eligible Purchase Payment.
         The Bonus Base is increased each time subsequent Eligible Purchase
         Payments are made. The Bonus Base also increases when the Benefit Base
         is increased as a result of a maximum Anniversary Value being achieved
         that is greater than both the current Benefit Base and all previous
         maximum Anniversary Values. The Bonus Base is decreased each time an
         Excess Withdrawal is taken, in the same proportion by which the
         Contract Value is reduced by the Excess Withdrawal. The Bonus Base is
         not used in the calculation of the Contract Value or any other benefits
         under the Contract.

         [On each Benefit Year anniversary] during the Bonus Period, We
         determine the amount to which the Bonus Base and / or the Benefit Base
         could increase. The components used to determine this amount are:

               (a) the Benefit Base calculated based on the maximum Anniversary
                   Value; and

                                       3

<PAGE>

               (b) the Bonus plus the current Benefit Base.

         If (a) is greater than (b), the Bonus Base and the Benefit Base are
         increased to the current Anniversary Value. If (b) is greater than (a),
         the Benefit Base is increased by the Bonus and the Bonus Base remains
         unchanged.

         [Further, if no Withdrawals are taken [during the Bonus Period] and [at
         the end of the Bonus Period] the current Benefit Base is less than the
         Guaranteed Minimum Benefit Base as shown on the Endorsement Data Page,
         We will increase the current Benefit Base so that the resulting Benefit
         Base [after the Bonus Period] is equal to the Guaranteed Minimum
         Benefit Base.]

MAXIMUM ANNUAL WITHDRAWAL AMOUNT ("MAWA")
The MAWA is calculated by multiplying the [Benefit Base] by the Maximum Annual
Withdrawal Percentage ("MAWP"). The applicable MAWP used to calculate the MAWA
is determined by Your Age at the time You first take a Withdrawal from Your
Contract.

You may withdraw up to the MAWA throughout each Benefit Year without impacting
the annual amount guaranteed for Withdrawal under the GMWB. If You do not
withdraw the entire MAWA in a Benefit Year, You may not carry over any unused
MAWA to any subsequent Benefit Year. In addition Your MAWA for the next Benefit
Year will not be recalculated as a result of taking less than the entire MAWA in
any given Benefit Year.

Withdrawals made under the GMWB are treated like any other Withdrawal under the
Contract for purposes of calculating Contract Value, charges, including
Withdrawal Charges, fees, applicable taxes, and any other benefits under the
Contract.

Increases and decreases in the Benefit Base impact Your MAWA as follows:

INCREASES IN THE BENEFIT BASE
The Benefit Base is increased when an Eligible Purchase Payment is allocated to
Your Contract. If the Benefit Base is increased for Eligible Purchase Payments,
the MAWA will be recalculated upon receipt of the Eligible Purchase Payments by
multiplying the increased Benefit Base by the applicable MAWP. In any Benefit
Year when Eligible Purchase Payments are allocated to Your Contract, any
remaining Withdrawals of MAWA will be based on the increased MAWA. If the
Benefit Base is increased on a Benefit Year anniversary, the MAWA will be
recalculated on that Benefit Year anniversary by multiplying the increased
Benefit Base by the applicable MAWP. The GMWB charge on and after that Benefit
Year anniversary is assessed on the increased Benefit Base.

DECREASES IN THE BENEFIT BASE
Excess Withdrawals reduce Your Benefit Base. Any Excess Withdrawal in a Benefit
Year reduces the Benefit Base in the same proportion by which the Contract Value
is reduced by the Excess Withdrawal. When the Contract Value is less than or
equal to the Benefit Base, Excess Withdrawals will result in a reduction of the
Benefit Base which is greater than the amount of the Excess Withdrawal. As a
result of reduction of the Benefit Base, the MAWA will also be reduced. The new
MAWA will equal the reduced Benefit Base multiplied by the applicable MAWP. The
recalculated MAWA is available for Withdrawal at the beginning of the next
Benefit Year and will be lower than Your previously calculated MAWA.

If You are taking Required Minimum Distributions ("RMD") from the Contract to
which this Endorsement is attached, and the RMD amount based only on the
Contract is greater than the MAWA in any given Benefit Year, no portion of the
RMD Withdrawal will be treated as an Excess Withdrawal. Any portion of a
Withdrawal that is greater than either the MAWA or the RMD amount based only on
the Contract to which this Endorsement is attached will be considered an Excess
Withdrawal.

IF YOUR CONTRACT VALUE IS REDUCED TO ZERO
If Your Contract Value is reduced to zero and the Benefit Base is greater than
zero, a benefit remains payable under this Endorsement, but all other benefits
under the Contract, including Death Benefits, will no longer be available.
However, if Your Contract Value is reduced to zero because of an Excess
Withdrawal, no further benefits will be payable under this Endorsement or the
Contract.

When the Contract Value equals zero and the Benefit Base is greater than zero,
any remaining benefit under this Endorsement must be taken through one of the
following income options:

     1.  The current MAWA, divided equally and paid on a quarterly, semi-annual
         or annual frequency as selected by You until the date of Your death(s);
         or

     2.  Any payment option mutually agreeable between You and Us.

Once You elect an income option, it cannot be changed.

                                       4

<PAGE>

If You do not select a payment option, the remaining benefit will be paid as the
current MAWA on a [quarterly] basis until the date of Your death(s).

[EXTENSION OF THE [BENEFIT BASE EVALUATION PERIOD]/ [BONUS PERIOD] ("EXTENSION")
We may offer You [at least [one]] Extension(s) of the [Benefit Base Evaluation
Period /Bonus Period] at the end of the current [Benefit Base Evaluation Period
/ Bonus Period], [provided You are age [90] or younger at that time.] [If You
elect such an Extension, You will receive a new Endorsement with the GMWB Charge
[not exceed [2.00%]] and provisions in effect at that time.]]

LATEST ANNUITY DATE
If there is remaining Contract Value and the Benefit Base is greater than zero
on the Latest Annuity Date, You must select one of the options listed below.

     1.  Annuitize the Contract Value under the Annuity Provisions of the
         Contract; or

     2.  Elect to receive the current MAWA as of the Latest Annuity Date in the
         form of a payment option, divided equally and paid on a quarterly,
         semi-annual or annual frequency as selected by You until the date of
         Your death; or

     3.  Any payment option mutually agreeable between You and Us.

If You do not select an option listed above, on the Latest Annuity Date We will
annuitize the Contract Value under the Annuity Provisions of the Contract,
Options 3 and 3V with 120 Monthly Payments Guaranteed or payments that do not
exceed Your life expectancy as required by the IRS.

INVESTMENT OPTIONS
If the Bonus is elected, We will restrict allocations to the Variable Portfolios
or available Fixed Account Option(s). We will not allow transfers or Purchase
Payment(s) to be allocated into any of the restricted investment option(s) or in
any way that is outside the established restrictions. Established restrictions
are shown on the Application/Enrollment Form. [Further, We will require
enrollment in a [quarterly] automatic asset rebalancing program]. We will notify
You if investment restrictions change.

TERMINATION OF WITHDRAWALS OVER TWO LIVES
If there are two Covered Persons, Withdrawals guaranteed for the life of one of
the Covered Persons will terminate if:

     1.  One of the two Covered Persons is removed from the Endorsement due to
         an ownership change; or

     2.  The Covered Persons are no longer married at the time of death of the
         first Covered Person.

Termination of Withdrawals guaranteed for the life of one Covered Person does
not impact any other terms and conditions of this Endorsement.

TERMINATION OF THE GMWB
Once elected, this Endorsement [may/may not] be terminated [and deduction of any
corresponding GMWB Charge will end after the termination date. You may terminate
the Endorsement if Your termination request is received:

     1.  Through the [5th] Benefit Year anniversary, the termination is
         effective on the [5th] Benefit Year anniversary;

     2.  After the [5th] and through the [10th] Benefit Year anniversary, the
         termination is effective on the [10th] Benefit Year anniversary;

     3.  In any Benefit Year after the [10th] Benefit Year anniversary, the
         termination is effective [on the Benefit Year anniversary following Our
         receipt of the election to terminate this Endorsement.]]

On the Benefit Year anniversary when termination occurs the GMWB Charge will be
deducted.

This Endorsement and the related charge will terminate automatically if:

     1.  The Covered Person dies, or if there were two Covered Persons, upon
         the death of the surviving Covered Person; or,

     2.  A Death Benefit is paid and the Contract is terminated; or,

     3.  The Contract is annuitized; or

     4.  Excess Withdrawals reduce the Contract Value to zero; or

     5.  Any change that removes all Covered Persons; or

     6.  The Contract is terminated for any reason.

If terminated for any reason, the GWMB may not be re-elected or reinstated.

                                       5

<PAGE>

DEATH OF COVERED PERSON(s)
If there is one Covered Person, then upon the death of the Covered Person, this
Endorsement and corresponding charge are terminated.

If there are two Covered Persons, upon the first death, if the surviving Covered
Person elects to continue the Contract, this Endorsement is also continued
subject to the terms and conditions of this Endorsement. Upon the election of
continuation, the Endorsement Effective Date will not change.

Signed for the Company to be effective on the Effective Date.

AIG SUNAMERICA LIFE ASSURANCE COMPANY

/s/ CHRISTINE A. NIXON                           /s/ JANA W. GREER
-------------------------------                  -------------------------------
    Christine A. Nixon                               Jana W. Greer
        Secretary                                      President

                                       6<PAGE>
                                                                   Exhibit 4.(a)

                      AIG SUNAMERICA LIFE ASSURANCE COMPANY
                     A STOCK COMPANY LOS ANGELES, CALIFORNIA

CONTRACT NUMBER  [P9999999999]

OWNER    [JOHN DOE]

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

AIG SUNAMERICA LIFE ASSURANCE COMPANY ("We", "Us", the "Company", or "AIG
SunAmerica Life") agrees to provide benefits to the Owner in accordance with the
provisions set forth in this Contract and in consideration of the Application or
confirmation thereof and Purchase Payments We receive.

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

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

For Individual Retirement Annuities, or if a refund of the Purchase Payment(s)
is otherwise required We reserve the right to allocate Your Purchase Payment(s)
to the Cash Management Portfolio until the end of the Right To Examine period.

                  THIS IS A LEGAL DOCUMENT. READ IT CAREFULLY.

   CHRISTINE A. NIXON                                     JANA W. GREER
----------------------------                  ----------------------------------
   Christine A. Nixon                                     Jana W. Greer
        Secretary                                           President

                              INDIVIDUAL FIXED AND
                            VARIABLE ANNUITY CONTRACT
                                Nonparticipating

AS-981 (5/06)

                                       1
<PAGE>
                                TABLE OF CONTENTS

CONTRACT DATA PAGE........................................................PAGE 3

DEFINITIONS...............................................................PAGE 4

PURCHASE PAYMENT PROVISIONS...............................................PAGE 7

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

CHARGES AND DEDUCTIONS...................................................PAGE 10

TRANSFER PROVISION.......................................................PAGE 10

WITHDRAWAL PROVISIONS....................................................PAGE 11

DEATH PROVISIONS.........................................................PAGE 13

ANNUITY PROVISIONS.......................................................PAGE 15

GENERAL PROVISIONS.......................................................PAGE 17

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

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

VARIABLE ANNUITY PAYMENT OPTIONS TABLE...................................PAGE 24

                                       2

AS-981 (5/06)

<PAGE>
                               CONTRACT DATA PAGE

CONTRACT NUMBER:                               ANNUITY SERVICE CENTER:
     [P9999999999]                             P. O. BOX 54299
                                               LOS ANGELES, CA 90054-0299

OWNER:                                         AGE AT ISSUE:
     [JOHN DOE]                                  [35]

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

SPECIFIED ANNUITY DATE:                        CONTRACT DATE:
     [May 1, 2034]                               [May 1, 2004]

LATEST ANNUITY DATE:                           FIXED ACCOUNT OPTIONS
     [May 1, 2064]                             MINIMUM GUARANTEE RATE:
                                                 [1.0% - 3.0%]
BENEFICIARY:
     As named by You

SEPARATE ACCOUNT CHARGE:                        ANNUAL CONTRACT MAINTENANCE FEE:
     [1.52%]                                     $35.00

Of the above percentage, the charge for
guaranteed death benefit risk is [0%-0.35%]

SEPARATE ACCOUNT:
     [Variable Annuity Account Five]

OPTIONAL ELECTIONS                             OPTIONAL ELECTION CHARGES:
OPTIONAL DEATH BENEFIT ELECTED:
     Purchase Payment Accumulation             See endorsement for applicable
                                               charge.

WITHDRAWAL CHARGE SCHEDULE:

<Table>
<Caption>
--------------------------------------------------------------------------------
    Number of Full Years Elapsed                     Withdrawal Charge as a
Between Purchase Payment Contribution                Percentage of Withdrawn
       And Date of Withdrawal                           Purchase Payment
--------------------------------------------------------------------------------
<S>                                                  <C>
                  0                                            7%
--------------------------------------------------------------------------------
                  1                                            6%
--------------------------------------------------------------------------------
                  2                                            6%
--------------------------------------------------------------------------------
                  3                                            5%
--------------------------------------------------------------------------------
                 4+                                            0%
--------------------------------------------------------------------------------
</Table>

See Page 11 for Withdrawal Charge Provisions.

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

                                       3

AS-981 (5/06)

<PAGE>
                                   DEFINITIONS

Defined in this section are some of the words and phrases used in this Contract.
These terms are capitalized when used in the Contract with the meaning set forth
below.

ACCUMULATION UNIT

A unit of measurement used to compute the Contract Value in a Variable Portfolio
before the Annuity Date.

AGE

Age as of last birthday.

ANNUITANT

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

ANNUITY DATE

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

ANNUITY SERVICE CENTER

The address as specified on the Contract Data Page.

ANNUITY UNIT

A unit of measurement determined on or after the Annuity Date used to compute
annuity payments from the Variable Portfolio(s).

BENEFICIARY

The Beneficiary You name at issue to receive the death benefit under this
Contract upon Your death. You may later change Your Beneficiary in a written
request to Us at Our Annuity Service Center.

CONTINUATION DATE

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

CONTRACT DATE

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

CONTRACT VALUE

The sum of: (1) Your share of the Variable Portfolios' Accumulation Unit Values,
and (2) the value of amounts if any, allocated to any available Fixed Account
Options.

                                       4

AS-981 (5/06)

<PAGE>
CONTRACT YEAR

The one year period starting from the Contract Date in one calendar year and
ending on the day preceding the anniversary of such date in the following
calendar year.

DEATH BENEFIT ADJUSTMENT

Any increase or reduction to the amount of the Death Benefit payable to account
for Purchase Payment and/or Withdrawal activity after a specified point in time
which will equal (a), (b), or (c), which ever is applicable, as follows:

     (a)  Where only Purchase Payments are received after the specified point in
          time, the dollar value of the Purchase Payments will be added to the
          Death Benefit payable; or

     (b)  Where only Withdrawals are made after the specified point in time, the
          Withdrawal will reduce the Death Benefit payable in the same
          proportion that the Contract Value was reduced at the time of the
          Withdrawal; or

     (c)  Where Purchase Payments have been received and Withdrawals made after
          the specified point in time, the Death Benefit amount payable will be
          increased by Purchase Payment(s) received after at specified point in
          time and reduced by any Withdrawal made after that specified point in
          time in the same proportion that the Contract Value was reduced at the
          time of the Withdrawal.

DOLLAR COST AVERAGING (DCA)

An optional program under which You authorize the systematic transfer of
specified amounts or percentages from any [Variable Portfolio(s)] or any
available Fixed Account into any [Variable Portfolio(s)] other than the source
account.

FIXED ACCOUNT OPTIONS

The investment options, if available under this Contract, that become part of
the Company's general asset account and are credited with a fixed rate of
interest declared by the Company. The general asset account contains all the
assets of the Company except for the Separate Account and other segregated asset
accounts. The amount You have in any Fixed Account Option at a given time is a
result of Purchase Payment(s) You have allocated to it or any part of Your
Contract Value You have transferred to it.

FIXED ANNUITIZATION

A series of periodic income payments of predetermined amounts that do not vary
with investment experience. Such payments are made from the Company's general
asset account. This Contract provides several fixed annuity payment options.

GUARANTEE PERIOD

The period for which interest is credited to amounts allocated to any available
Fixed Account Options. We determine in Our sole discretion the periods, if any,
that will be offered.

IRC

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

JOINT OWNER

Any person named as Joint Owner on the Application or confirmation thereof and
listed on the Contract Data Page, unless subsequently changed. The Joint Owner,
if any, possesses an undivided interest in this Contract in conjunction with the
Owner. All references within this Contract to Owner will also apply to the Joint
Owner. We reserve Our right to require that Joint Owners be each others' spouse.

                                       5

AS-981 (5/06)

<PAGE>

LATEST ANNUITY DATE

The later of the Owner's [95th birthday or ten years after the Contract Date].
If the Owner is a non-natural person, the Latest Annuity Date is the later of
the Annuitant's [95th birthday or ten years after the Contract Date].

MULTI-YEAR FIXED ACCOUNT OPTIONS

If available, Fixed Accounts for a Guarantee Period of at least two (2) years.

NET PURCHASE PAYMENT

The sum of all Purchase Payment(s), reduced for each Withdrawal in the same
proportion that the Contract Value is reduced by each such Withdrawal.

NYSE

New York Stock Exchange.

OWNER

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

PAYEE

The person receiving payment of annuity benefits under this Contract.

PURCHASE PAYMENTS

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

REQUIRED DOCUMENTATION

Is: (a) Due Proof of Death that the Owner or the Spousal Beneficiary died before
the Annuity Date; and, (b) an election form specifying the payment options; and
(c) any other documentation We may require.

SEPARATE ACCOUNT

A segregated asset account named on the Contract Data Page. The Separate Account
consists of several Variable Portfolios, each investing in shares of the
Underlying Fund(s) of the trust(s). The assets of the Separate Account are not
commingled with the general assets and liabilities of the Company. The value of
amounts allocated to the Variable Portfolios of the Separate Account is not
guaranteed.

SPECIFIED ANNUITY DATE

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

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SPOUSAL BENEFICIARY

The original deceased Owner's surviving spouse who is designated as the primary
Beneficiary at the time of the Owner's death and may continue the Contract as
the Owner on the Continuation Date.

SUBSEQUENT PURCHASE PAYMENTS

Purchase Payments made after the initial Purchase Payment.

TOTAL INVESTED AMOUNT

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

UNDERLYING FUND

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

VARIABLE ANNUITIZATION

A series of periodic income payments which vary in amount according to the
investment experience of one or more Variable Portfolios, as selected by You.
This Contract provides several variable annuity payment options.

VARIABLE PORTFOLIO

One or more divisions of the Separate Account which provides for the variable
investment options available under this Contract. Each Variable Portfolio has
its own investment objective and is invested in the Underlying Fund(s) of the
trusts. A Variable Portfolio is not chargeable with liabilities arising out of
any other Variable Portfolio. The available Variable Portfolios are shown on the
Application or confirmation thereof. Additional Variable Portfolios may become
available in the future.

WE, OUR, US, THE COMPANY AIG SunAmerica Life Assurance Company.

WITHDRAWAL(S)

Amount(s) withdrawn from the Contract Value including any charges and fees
applicable to each such withdrawal.

YOU, YOUR

The Owner.

                           PURCHASE PAYMENT PROVISIONS

PURCHASE PAYMENTS

Purchase Payments are flexible. This means that, subject to Company disclosed
restrictions, You may change the amounts, frequency and/or timing of Purchase
Payments. Purchase Payments can be made at any time after the Contract Date, but
before the older Owner's [86th] birthday. With instructions from You, Purchase
Payments will be allocated to the Variable Portfolio(s) and/or Fixed Account
Option(s), if available. We reserve the right to specify the minimum or maximum
Purchase Payment that may be allocated to a Variable Portfolio or available
Fixed Account Option under the Contract.

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DCA FIXED ACCOUNT

Any portion of a Purchase Payment allocated to the DCA Fixed Account Option(s)
must be transferred out to the Variable Portfolio(s) within the specified DCA
Fixed Account Option Period. Upon termination of the DCA program any amounts
remaining in the DCA Fixed Account Option(s) will be transferred to the DCA
target allocation(s) for the program being terminated. Upon annuitization, any
amounts remaining in the DCA Fixed Account Option(s) will be applied to a Fixed
Annuitization. The unit values credited and applied to Your Contract are
determined on each date of transfer. We reserve the right to impose a minimum or
maximum contribution level on Purchase Payments allocated to a DCA Fixed Account
Option(s) and/or change the terms and conditions of the DCA program at any time.

CHANGES TO VARIABLE PORTFOLIO OFFERINGS

If the shares of an Underlying Fund should no longer be available for investment
by the Separate Account, then We may substitute shares of another Underlying
Fund, for shares already purchased, or to be purchased in the future. At any
given time, some Variable Portfolios may not be available for receipt of
Purchase Payment(s) or transfer(s). Substitutions of securities will be carried
out in accordance with any applicable state and/or federal laws or regulations.

                             ACCUMULATION PROVISIONS

Before the Annuity Date, the Contract Value is the sum of the Separate Account
Accumulation Value and the Fixed Account Accumulation Value. If Your Contract
Value falls below [$2,500,] subject to applicable state and federal laws, rules
and regulations, we may terminate your Contract and send you the remaining
dollar amount.

SEPARATE ACCOUNT ACCUMULATION VALUE

The Separate Account Accumulation Value under the Contract is the sum of the
Accumulation Unit Values held in the Variable Portfolios for You.

NUMBER OF ACCUMULATION UNITS

Your Contract is credited with Accumulation Units of the Separate Account when
amounts are allocated to the Variable Portfolio(s). For that portion of each
Purchase Payment and/or transfer amount allocated to a Variable Portfolio, the
number of Accumulation Units credited is equal to:

The sum of each Purchase Payment and/or transfer amount allocated to the
Variable Portfolio reduced by premium taxes, if any:

Divided by

The Accumulation Unit Value for that Variable Portfolio for the NYSE business
day in which the Purchase Payment or transfer amount is received.

The number of Accumulation Units will be reduced for Withdrawals of Contract
Value, annuitizations, amounts transferred out of a Variable Portfolio, the
Contract Maintenance Fee and applicable charges for elected features as set
forth in endorsements to this Contract. Any reduction to the Contract Value will
be made as of the NYSE business day in which We receive all requirements for the
transaction, as appropriate.

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ACCUMULATION UNIT VALUE (AUV)

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

(1)  is the total value at the end of the given NYSE business day of the assets
     attributable to the the Variable Portfolio minus any applicable liabilities
     other than those owed to the Contractholders;

(2)  is the amount equal to the daily Separate Account Charge plus the daily
     charge for any optional features that impose a daily charge;

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

FIXED ACCOUNT ACCUMULATION VALUE

The Fixed Account Accumulation Value, if any, is the sum of all monies allocated
or transferred to the Fixed Account Option(s), if available, reduced by any
applicable premium taxes, plus all interest credited on the Fixed Account
Option(s) during the period that You have Contract Value allocated to the Fixed
Account Option(s). This amount will be adjusted for Withdrawals, annuitizations,
transfers, and the deduction of the Contract Maintenance Fee and applicable
charges for elected features as set forth in endorsements to this Contract. The
Fixed Account Accumulation Value will not be less than the minimum values
required by law in the state where this Contract is issued.

FIXED ACCOUNT GUARANTEE PERIOD OPTIONS AND INTEREST CREDITING

The portion of Your Contract Value within the Fixed Account, if any, is credited
with interest at rates guaranteed by Us for the Guarantee Period(s) selected.
Interest is credited on a daily basis at the then applicable effective interest
rate for the applicable Guarantee Period. You may select from one or more
Guarantee Periods which We may offer at any particular time. We reserve the
right at any time to add or delete Guarantee Periods. If You have allocated any
part of Your initial Purchase Payment to a Guarantee Period, the amount
allocated, as well as the duration of the Guarantee Period, is shown on the
Application or confirmation thereof as completed by You. The interest rate
applicable to an allocation of Purchase Payment or transfer of Contract Value to
a Guarantee Period is the rate in effect for that Guarantee Period at the time
of the allocation or transfer. If You have allocated or transferred amounts at
different times to the Fixed Account, each allocation or transfer may have a
unique effective interest rate associated with that amount. We guarantee that
the effective annual rate of interest for the Fixed Account, including any of
the available Guaranteed Periods, will not be less than the Minimum Guarantee
Rate as mandated by Your state, and shown on Contract Data Page. The minimum
guarantee rate under Your Contract as referenced on the Contract Data Page is at
least equal to the lesser of: (a) 3% per annum; or (b) the three-month average
value of the five-year Constant Maturity Treasury Rate reported by the Federal
Reserve, rounded up to the nearest 1/4th of 1%, for the second, third and fourth
month preceding the first day of the calendar quarter during which the Contract
is issued, reduced by 1.25% and where the resulting interest rate is not less
than 1%.

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<PAGE>
                             CHARGES AND DEDUCTIONS

We will deduct the following charges from the Contract:

CONTRACT MAINTENANCE FEE

The charge, as shown on the Contract Data Page, will be deducted on each
Contract anniversary before the Annuity Date. It will also be deducted when the
Contract Value is withdrawn in full if the Withdrawal is not on the Contract
anniversary. We also reserve the right to waive the fee for certain Contract
Values of [$50,000.00 and up].

WITHDRAWAL CHARGE

The charge, as shown on the Contract Data Page, if any, may be deducted upon
Withdrawal of any portion of the Contract Value. See WITHDRAWAL PROVISIONS.

SEPARATE ACCOUNT CHARGE

This charge, as shown on the Contract Data Page, on an annualized basis equals a
percentage of the average daily ending value of the assets attributable to the
Accumulation Units of the Variable Portfolio(s) to which the Contract is
allocated. This charge compensates Us for mortality and expense risks,
distribution expenses and guaranteed death benefit risk associated with the
Contract. We subtract this charge daily. We reserve the right to assess a charge
on a class basis which differs from the charge specified on the Contract Data
Page.

                               TRANSFER PROVISIONS

Subject to applicable restrictions, You may transfer all or part of Your
Contract Value amongst the Variable Portfolios and/or available Fixed Account
Options (unless otherwise noted). The minimum amount that can be transferred and
the amount that can remain in a Variable Portfolio and/or available Fixed
Account Option are subject to Company limits. We further reserve the right to
restrict Your transfer privileges, including but not limited to possible
termination of those privileges in our sole discretion.

Furthermore, the Underlying Funds, may have their own transfer policies that are
applicable to this Contract as a result of investment in the Variable
Portfolios. These policies, likewise may include termination of Your transfer
privileges and/or penalty fees resulting from transfer activity that is defined
as excessive according to the Underlying Funds' policies.

TRANSFERS OF ACCUMULATION UNITS BETWEEN VARIABLE PORTFOLIOS AND FIXED ACCOUNTS

Before the Annuity Date, transfers are subject to certain restrictions. You may
transfer all or a portion of Your Contract Value from one Variable Portfolio to
another Variable Portfolio(s) or any available Fixed Account Option(s) other
than the DCA Fixed Account Options. You may also transfer from any available
Fixed Account Option(s) to the Variable Portfolio(s) and/or any available Fixed
Account Option(s) of the Contract. A transfer will result in the redemption of
Accumulation Units in a Variable Portfolio and the purchase of Accumulation
Units in the other Variable Portfolio. Transfers will be effected at the end of
the NYSE business day in which We receive Your completed request for the
transfer.

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TRANSFERS OF ANNUITY UNITS BETWEEN VARIABLE PORTFOLIOS

On and after the Annuity Date, transfers into and out of any available Fixed
Account Option(s) are not allowed. You may transfer all or a portion of Your
Contract Value from one Variable Portfolio to another Variable Portfolio(s). A
transfer will result in the redemption of Annuity Units in a Variable Portfolio
and the purchase of Annuity Units in the other Variable Portfolio. Transfers
will be effected for the last NYSE business day of the month in which We receive
Your request for the transfer.

                              WITHDRAWAL PROVISIONS

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

Unless You tell Us otherwise in writing, Withdrawals will be deducted from the
Contract Value in proportion to their allocation among any available Fixed
Account Options and the Variable Portfolios. Withdrawals will be based on values
for the NYSE business day in which the request for withdrawal and the Contract
(in the case of a full withdrawal), are received at Our Annuity Service Center.
Unless the SUSPENSION OF PAYMENTS or DEFERMENT OF PAYMENTS sections are in
effect, payment of withdrawals will be made within seven calendar days.

WITHDRAWAL CHARGE

Withdrawals of all or a portion of the Contract Value may be subject to a
Withdrawal Charge as shown on the Contract Data Page. The Withdrawal Charge
percentage applied to any withdrawal will depend on how long the Purchase
Payment to which the Withdrawal is attributed has been in the Contract. No
Withdrawal Charge is deducted on an amount which is considered a Penalty-Free
Withdrawal or a Purchase Payment no longer subject to a Withdrawal Charge.

For the purpose of determining the Withdrawal Charge, a Withdrawal will be
attributed to amounts in the following order: (1) penalty-free earnings in the
Contract; (2) Purchase Payments no longer subject to the Withdrawal Charge and
not yet withdrawn; (3) any remaining Penalty-Free Withdrawal amount (except in
the case of a full Withdrawal); and (4) Purchase Payments subject to a
Withdrawal Charge. Purchase Payments, when withdrawn, are assumed to be
withdrawn on a first-in-first-out (FIFO) basis. You will not receive the benefit
of a Penalty-Free Withdrawal in case of a full Withdrawal.

The Withdrawal Charge will be assessed against the Variable Portfolio(s) and the
available Fixed Account Option(s) in the same proportion as the remaining
Contract Value is allocated unless You request that the Withdrawal come from a
particular Variable Portfolio or available Fixed Account Option. After a
Withdrawal is taken, the remaining Contract Value must be sufficient to cover
any Withdrawal Charge remaining upon full Withdrawal of the Contract.

PENALTY-FREE WITHDRAWALS

On any day before the Annuity Date, You may make a Withdrawal of up to the
Penalty-Free Withdrawal amount as of that day without incurring a Withdrawal
Charge. Any portion of the

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<PAGE>
Penalty-Free Withdrawal made in excess of the penalty-free earnings in the
Contract is considered to be a Withdrawal of future Penalty-Free earnings and is
therefore not a Withdrawal of the Total Invested Amount. On any day,
penalty-free earnings in the Contract are calculated as the Contract Value at
the end of that day less the Total Invested Amount.

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

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

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

(a)  penalty-free earnings in the Contract; or

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

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

SYSTEMATIC WITHDRAWAL PROGRAM

Prior to the Annuity Date, You may elect to participate in a Systematic
Withdrawal Program by informing Us at Our Annuity Service Center. The Systematic
Withdrawal Program allows You to make automatic withdrawals from Your Contract
monthly, quarterly, semiannually or annually. The minimum systematic withdrawal
amount is subject to Company limits. Any amount withdrawn through the Systematic
Withdrawal Program may be subject to a Withdrawal Charge as discussed in the
WITHDRAWAL CHARGE and PENALTY-FREE WITHDRAWALS provisions. You may terminate
Your participation in the Systematic Withdrawal Program at any time by sending
Us a written request. We reserve the right to modify, suspend or terminate the
Systematic Withdrawal Program at any time.

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

                                DEATH PROVISIONS

Notwithstanding any provision of this Contract to the contrary, all payments of
benefits under this Contract will be made in a manner that satisfies the
requirements of IRC Section 72(s), as amended

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<PAGE>

from time to time. If the Contract is owned by a trust or other non-natural
person, We will treat the death of any Annuitant as the death of the "Primary
Annuitant" and as the death of any Owner.

DUE PROOF OF DEATH

Due Proof of Death means:

     1.   a certified copy of a death certificate; or

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

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

     4.   any other proof satisfactory to Us.

DEATH OF OWNER BEFORE THE ANNUITY DATE

We will pay a death benefit to the Beneficiary upon Our receiving all Required
Documentation at Our Annuity Service Center. Unless You have previously
designated a payment option on behalf of the Beneficiary, the Beneficiary must
select one of the following options:

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

     2.   Collect the death benefit in the form of one of the Annuity Payment
          Options. If an Annuity Payment Option is desired, an option must be
          elected within 60 days of Our receipt of all Required Documentation.
          The payments must be over the life of the Beneficiary or over a period
          not extending beyond the life expectancy of the Beneficiary. Payments
          under this option must begin within one year after the Owner's death,
          otherwise, the death benefit will be paid in accordance with option 1
          above; or

     3.   If eligible, continue the Contract as the Spousal Beneficiary. On the
          Continuation Date, We will contribute to the Contract any amount by
          which the Death Benefit exceeds the Contract Value, calculated as of
          the Owner's date of death. This amount is not considered a Purchase
          Payment except in the calculation of certain death benefits upon the
          death of the Spousal Beneficiary. If this option is elected, no death
          benefit is paid.

You cannot change any elected death benefit option specified on the Contract
Data Page. In any event, the entire interest in the Contract will be distributed
within five years from the date of death of the Owner unless payment option 2 or
3 was selected under DEATH OF OWNER BEFORE THE ANNUITY DATE.

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

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AMOUNT OF DEATH BENEFIT

If the Owner was Age [82 or younger] on the Contract Date, [and death occurs
before the [90th] birthday,] upon Our receipt of all Required Documentation at
Our Annuity Service Center, We will calculate the Death Benefit as the greater
of:

     (1)  [100% of] the Contract Value for the NYSE business day during which We
          receive all Required Documentation at Our Annuity Service Center; or

     (2)  [100% of] Net Purchase Payment(s) received prior to the Owner's [86th]
          birthday.

If the Owner was at least Age [83 but younger than age 86] on the Contract Date,
[and death occurs before the Owner's [90th] birthday,] upon Our receipt of all
Required Documentation at Our Annuity Service Center, We will calculate the
Death Benefit as the greater of:

     (1)  [100% of] the Contract Value for the NYSE business day during which We
          receive all Required Documentation at Our Annuity Service Center; or

     (2)  The lesser of:

          a)   [100% of] Net Purchase Payment(s) received before the Owner's
               [86th] birthday; or

          b)   [125% of] Contract Value for the NYSE business day during which
               We receive all Required Documentation at Our Annuity Service
               Center.

[If the Owner was Age [90] or older at the time of death, the Death Benefit will
be the Contract Value for the NYSE business day during which We receive all
Required Documentation at Our Annuity Service Center.]

SPOUSAL BENEFICIARY CONTINUATION

If the Spousal Beneficiary was Age [82 or younger] on the Continuation Date and
was younger than Age [86] at the time of death, upon Our receipt of all Required
Documentation at Our Annuity Service Center, We will calculate the Death Benefit
as the greater of:

     (1)  [100% of] the Contract Value for the NYSE business day during which We
          receive all Required Documentation at Our Annuity Service Center; or

     (2)  [100% of] the Contract Value on the Continuation Date, and a Death
          Benefit Adjustment for Purchase Payment(s) transacted on or after the
          Continuation Date but before the Spousal Beneficiary's [86th] birthday
          and/or Withdrawals transacted after the Continuation Date.

If the Spousal Beneficiary was at least Age [83 but younger than age 86] on the
Continuation Date and was younger than Age [86] at the time of death, upon Our
receipt of the all Required Documentation at Our Annuity Service Center, We will
calculate the Death Benefit as the greater of:

     (1)  [100% of] the Contract Value for the NYSE business day during which We
          receive all Required Documentation at Our Annuity Service Center; or

     (2)  The lesser of:

          a)   [100% of] the Contract Value on the Continuation Date, and a
               Death Benefit Adjustment for Purchase Payment(s) transacted on or
               after the Continuation Date but before the Spousal Beneficiary's
               [86th] birthday and/or Withdrawals transacted after the
               Continuation Date; or

          b)   [125% of] the Contract Value for the NYSE business day during
               which We receive all Required Documentation at Our Annuity
               Service Center.

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<PAGE>

If the Spousal Beneficiary was age [86] or older on the Continuation Date, the
Death Benefit will be [100% of] the Contract Value for the NYSE business day
during which We receive all Required Documentation at Our Annuity Service
Center.

DEATH OF OWNER OR ANNUITANT ON OR AFTER THE ANNUITY DATE

If any Owner or Annuitant dies on or after the Annuity Date and before the
entire interest in the Contract has been distributed, We will pay the remaining
portion of the annuity payout to the Beneficiary upon Our receipt of Required
Documentation. For further information pertaining to death of the Annuitant, see
ANNUITY PAYMENT OPTIONS.

BENEFICIARY

The Beneficiary is selected by the Owner. While the Owner is living and before
the Annuity Date, the Owner may change the Beneficiary by written notice in a
form satisfactory to Us. A change in Beneficiary will take effect on the date We
receive the written notice at Our Annuity Service Center. If two or more persons
are named as Beneficiaries under the Contract, those surviving the Owner will
share equally unless otherwise stated and each must elect to receive their
respective portions of the death benefit according to the options listed under
DEATH OF OWNER BEFORE THE ANNUITY DATE. If the Annuitant survives the Owner, and
there are no surviving Beneficiaries, the Annuitant will be deemed the
Beneficiary.

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

If the Owner is also the Annuitant and there are no surviving Beneficiaries upon
Our receipt of all Required Documentation We will pay the Death Benefit to the
estate of the Owner in accordance with option 1 under DEATH OF OWNER BEFORE THE
ANNUITY DATE.

                               ANNUITY PROVISIONS

ANNUITY DATE

You specify an anticipated Annuity Date on the Application as shown on the
Contract Data Page. You may change the Annuity Date at any time at least seven
days before the Annuity Date, by written notice to the Us at Our Annuity Service
Center. The Annuity Date must always be the first day of the calendar month and
must be at least two years after the Contract Date, but not beyond the Latest
Annuity Date. If no Annuity Date is specified on the Application, the Annuity
Date will be the Latest Annuity Date.

PAYMENTS TO OWNER

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

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

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AMOUNT OF FIXED ANNUITY PAYMENTS

The amount of each fixed annuity payment will be determined by applying the
portion of the Contract Value allocated by You for Fixed Annuitization, less any
applicable premium taxes, to the annuity table applicable to the fixed annuity
payment option chosen. In no event will the Fixed Annuitization be changed once
it begins.

AMOUNT OF VARIABLE ANNUITY PAYMENTS

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

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

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

     The Net Investment Factor for any Variable Portfolio for a certain month is
     determined by dividing (1) by (2) and multiplying by (3) where:

     (1)  is the Accumulation Unit Value of the Variable Portfolio determined as
          of the last business day at the end of that month, and

     (2)  is the Accumulation Unit Value of the Variable Portfolio determined as
          of the last business day at the end of the preceding month, and

     (3)  is a factor that neutralizes the assumed investment rate of 3.5%.

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

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

     Multiplied by

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

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

                               GENERAL PROVISIONS

ENTIRE CONTRACT

The Entire Contract between You and Us consists of this Contract, the
Application or confirmation thereof and any attached endorsement(s) or rider(s).
An agent cannot change the terms or conditions of this Contract. Any change must
be in writing and approved by Us. Only Our President, Secretary, or one of Our
Vice-Presidents can give Our approval.

CHANGE OF ANNUITANT

If the Owner is an individual, the Owner may change the Annuitant(s) at any time
before the Annuity Date. To make a change, the Owner must send a written notice
to Us at least 30 days before the Annuity Date. If the Owner is a non-natural
person, the Owner may not change the Annuitant.

DEATH OF ANNUITANT

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

MISSTATEMENT OF AGE OR SEX

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

With respect to Contract issue Age and other age driven features in the
Contract, should We discover a misstatement of Age, We reserve the right to
fully pursue Our remedies including possible termination of the Contract and/or
revocation of any Age driven benefits.

PROOF OF AGE, SEX, OR SURVIVAL

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

DEFERMENT OF PAYMENTS

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

                                       17

AS-981 (5/06)
<PAGE>

SUSPENSION OF PAYMENTS

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

(a)  the NYSE is closed;

(b)  trading on the NYSE is restricted;

(c)  an emergency exists such that it is not reasonably practical to dispose of
     securities in the Variable Portfolios or to determine the value of its
     assets; or

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

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

CONFORMITY WITH STATE LAWS

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

CHANGES IN LAW

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

ASSIGNMENT

You may assign this Contract before the Annuity Date, but We will not be bound
by an assignment unless the request for assignment is signed by You and received
by Us. Your rights and those of any other person referred to in this Contract
will be subject to the assignment. Certain assignments may be taxable. We do not
assume any responsibility for the validity or tax consequences of any
assignment. We reserve the right to not recognize assignments if it changes the
risk profile of the Owner of the Contract as determined in Our sole discretion.

CLAIMS OF CREDITORS

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

PREMIUM TAXES OR OTHER TAXES

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

WRITTEN NOTICE

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

PERIODIC REPORTS

At least once during each Contract Year, We will send You a statement of the
account activity of the Contract. The statement will include all transactions
which have occurred during the accounting period shown on the statement.

                                       18

AS-981 (5/06)

<PAGE>

INCONTESTABILITY

This Contract will be incontestable after it has been in force for a period of
two years from the Contract Date during the lifetime of any Owner who is
required to provide Us with information concerning their age, sex and identity.
Accurate statements as to any Owner's age, sex and identity are required as a
condition of issuing this Contract. The Incontestability of this Contract
applies to statements any Owner makes, except as otherwise stated in the
Misstatement of Age or Sex provision.

NONPARTICIPATING

This Contract does not share in Our surplus.

WAIVER

Our waiver of any of the terms and conditions under this Contract will not be
deemed to constitute waiver of the right to enforce strict compliance.

                             ANNUITY PAYMENT OPTIONS

During the Annuitant's life, upon written election and the return of this
Contract to Us at Our Annuity Service Center, the Contract Value may be applied
to provide one of the following options or any annuity payment option that is
mutually agreeable. After two years from the Contract Date, and before the
Annuity Date, You can choose one of the options described below. If no option
has

                                       19
AS-981 (5/06)
<PAGE>

been selected by the Annuity Date, You will automatically receive option 4
below, with 120 monthly payments guaranteed.

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

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

OPTIONS 2 & 2V - JOINT AND SURVIVOR LIFE ANNUITY

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

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

Payments payable to the Payee during the lifetime of the Annuitant and during
the lifetime of a designated second person. If, at the death of the survivor,
payments have been made for less than 120 or 240 monthly periods, the remaining
guaranteed annuity payments will be continued to the Beneficiary. If, at the
death of the survivor, payments have been made for at least 120 or 240 monthly
periods, as selected at the time of annuitization, no further payments will be
made.

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

Payments payable to the Payee during the lifetime of the Annuitant. If, at the
death of the Annuitant, payments have been made for less than the 120 or 240
monthly periods, as selected at the time of annuitization, the remaining
guaranteed annuity payments will be continued to the Beneficiary. If, at the
death of the Annuitant, payments have been made for at least 120 or 240 monthly
periods, no further payments will be made.

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

Payments payable to the Payee for any specified period of time of five (5) years
or more, but not exceeding thirty (30) years, as selected at the time of
annuitization. The selection must be made for full twelve-month periods. In the
event of death of the Annuitant during the specified period of time, any
remaining annuity payments will be continued to the Beneficiary. If the
Annuitant dies after the end of the specified period of time, no further
payments will be made. If Variable Annuity Payments are elected under this
Annuity Payment Option, any remaining guaranteed Variable Annuity payments may
be redeemed for a discounted value determined by Us. Any applicable Withdrawal
Charges will be deducted from the discounted value as if Your Contract was fully
withdrawn.

                                       20
AS-981 (5/06)

<PAGE>
                       FIXED ANNUITY PAYMENT OPTIONS TABLE

BASIS OF COMPUTATION

The actuarial basis for the Table of Annuity Rates is the Annuity 2000 Mortality
Table with a guaranteed interest rate of [1.50%], with quinquennial age
setbacks. For every five years that the Contract has been in effect at the time
of annuitization, the Annuitant's age will be set back by one year to determine
the applicable factors. The Fixed Annuity Payment Options Table does not include
any applicable premium tax.

            OPTIONS 1 & 4 - TABLE OF MONTHLY INSTALLMENTS PER $1,000.

    (MONTHLY INSTALLMENTS FOR AGES NOT SHOWN WILL BE FURNISHED UPON REQUEST.)

<TABLE>
<CAPTION>
                OPTION 1                  OPTION 4                           OPTION 4
 AGE OF                                 LIFE ANNUITY                       LIFE ANNUITY
ANNUITANT     LIFE ANNUITY       (W/120 PAYMENTS GUARANTEED)        (W/240 PAYMENTS GUARANTEED)

            MALE      FEMALE       MALE              FEMALE           MALE               FEMALE
<S>         <C>       <C>        <C>                 <C>            <C>                  <C>
   55       3.68       3.38        3.64               3.35            3.48                3.27
   56       3.77       3.46        3.73               3.43            3.55                3.34
   57       3.87       3.54        3.82               3.51            3.62                3.40
   58       3.98       3.63        3.92               3.60            3.69                3.47
   59       4.09       3.73        4.02               3.69            3.76                3.54
   60       4.21       3.83        4.13               3.78            3.83                3.62
   61       4.34       3.93        4.24               3.89            3.90                3.69
   62       4.47       4.05        4.36               3.99            3.97                3.77
   63       4.62       4.17        4.49               4.10            4.04                3.84
   64       4.77       4.30        4.62               4.22            4.10                3.92
   65       4.93       4.44        4.76               4.35            4.17                4.00
   66       5.11       4.58        4.90               4.48            4.24                4.07
   67       5.30       4.74        5.05               4.62            4.30                4.15
   68       5.49       4.91        5.20               4.76            4.36                4.22
   69       5.71       5.09        5.36               4.92            4.41                4.29
   70       5.93       5.29        5.53               5.08            4.47                4.36
   71       6.17       5.50        5.70               5.25            4.51                4.42
   72       6.43       5.73        5.87               5.43            4.56                4.48
   73       6.70       5.98        6.05               5.62            4.60                4.53
   74       6.99       6.24        6.23               5.81            4.63                4.58
   75       7.31       6.53        6.41               6.01            4.67                4.62
   76       7.64       6.84        6.59               6.21            4.69                4.65
   77       8.00       7.18        6.78               6.41            4.72                4.69
   78       8.38       7.55        6.96               6.62            4.74                4.71
   79       8.79       7.94        7.13               6.83            4.75                4.74
   80       9.23       8.37        7.31               7.03            4.77                4.75
   81       9.70       8.84        7.47               7.23            4.78                4.77
   82       10.20      9.34        7.63               7.42            4.79                4.78
   83       10.73      9.88        7.78               7.60            4.80                4.79
   84       11.30      10.47       7.93               7.77            4.80                4.80
   85       11.90      11.10       8.06               7.93            4.81                4.80
</TABLE>

                                       21

AS-981 (5/06)

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

<TABLE>
<CAPTION>
      AGE OF
       MALE
     ANNUITANT                           AGE OF FEMALE ANNUITANT
     ---------                           -----------------------
                   55       60         65        70         75         80         85
<S>               <C>      <C>        <C>       <C>        <C>        <C>        <C>
        55        3.01     3.18       3.33      3.45       3.54       3.60       3.64
        60        3.12     3.36       3.59      3.78       3.94       4.05       4.12
        65        3.21     3.51       3.83      4.13       4.40       4.61       4.75
        70        3.27     3.63       4.03      4.46       4.89       5.26       5.53
        75        3.32     3.70       4.18      4.74       5.35       5.95       6.45
        80        3.34     3.76       4.29      4.95       5.75       6.62       7.45
        85        3.36     3.79       4.35      5.09       6.05       7.20       8.44
</TABLE>

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

<TABLE>
<CAPTION>
      AGE OF
       MALE
     ANNUITANT                        AGE OF FEMALE ANNUITANT
     ---------                        ------------------------
                   55       60         65        70         75         80         85
<S>               <C>      <C>        <C>       <C>        <C>        <C>        <C>
        55        3.01     3.18       3.33      3.45       3.53       3.59       3.62
        60        3.12     3.36       3.58      3.78       3.93       4.03       4.09
        65        3.21     3.51       3.82      4.12       4.38       4.56       4.67
        70        3.27     3.62       4.02      4.44       4.84       5.16       5.36
        75        3.31     3.70       4.16      4.70       5.26       5.76       6.11
        80        3.33     3.74       4.25      4.88       5.59       6.28       6.80
        85        3.35     3.77       4.31      4.99       5.81       6.66       7.35
</TABLE>

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

<TABLE>
<CAPTION>
      AGE OF
       MALE
     ANNUITANT                           AGE OF FEMALE ANNUITANT
     ---------                           -----------------------
                   55       60         65        70         75         80         85
<S>               <C>      <C>        <C>       <C>        <C>        <C>        <C>
        55        3.00     3.16       3.30      3.39       3.45       3.47       3.48
        60        3.11     3.33       3.53      3.68       3.77       3.81       3.82
        65        3.18     3.46       3.72      3.94       4.08       4.15       4.17
        70        3.23     3.54       3.86      4.14       4.33       4.43       4.46
        75        3.26     3.59       3.94      4.27       4.50       4.62       4.66
        80        3.27     3.61       3.98      4.33       4.58       4.71       4.76
        85        3.27     3.62       3.99      4.35       4.61       4.75       4.80
</TABLE>

                                       22

AS-981 (5/06)

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

<TABLE>
<CAPTION>
 NUMBER       MONTHLY      NUMBER       MONTHLY      NUMBER      MONTHLY     NUMBER      MONTHLY
OF YEARS      PAYMENT     OF YEARS      PAYMENT     OF YEARS     PAYMENT    OF YEARS     PAYMENT
--------      -------     --------      -------     --------     -------    --------     -------
<S>           <C>         <C>           <C>         <C>          <C>        <C>          <C>
                             10          8.96          17         5.55         24          4.13
                             11          8.21          18         5.27         25          3.99
   5           17.28         12          7.58          19         5.03         26          3.86
   6           14.51         13          7.05          20         4.81         27          3.75
   7           12.53         14          6.59          21         4.62         28          3.64
   8           11.04         15          6.20          22         4.44         29          3.54
   9            9.89         16          5.85          23         4.28         30          3.44
</TABLE>

                                       23

AS-981 (5/06)

<PAGE>
                     VARIABLE ANNUITY PAYMENT OPTIONS TABLE

BASIS OF COMPUTATION

The actuarial basis for the Table of Annuity Rates is the Annuity 2000 Mortality
Table with an effective annual Assumed Investment Rate of 3.50%, with
quinquennial age setbacks. For every five years that the Contract has been in
effect at the time of annuitization, the Annuitant's age will be set back by one
year to determine the applicable factors. The Variable Annuity Payment Options
Table does not include any applicable premium tax.

            OPTIONS 1V& 4V - TABLE OF MONTHLY INSTALLMENTS PER $1,000

    (MONTHLY INSTALLMENTS FOR AGES NOT SHOWN WILL BE FURNISHED UPON REQUEST.)

<TABLE>
<CAPTION>
                      OPTION 1V                 OPTION 4V                       OPTION 4V
                                              LIFE ANNUITY                    LIFE ANNUITY
    AGE OF                                   (W/120 PAYMENTS                 (W/240 PAYMENTS
  ANNUITANT          LIFE ANNUITY              GUARANTEED)                     GUARANTEED)

                  MALE       FEMALE         MALE           FEMALE         MALE            FEMALE
<S>               <C>        <C>            <C>            <C>            <C>             <C>
      55          4.80        4.48          4.74            4.45          4.54             4.34
      56          4.89        4.56          4.82            4.52          4.60             4.40
      57          4.99        4.64          4.91            4.60          4.67             4.46
      58          5.09        4.73          5.01            4.68          4.73             4.53
      59          5.21        4.82          5.11            4.77          4.79             4.59
      60          5.33        4.92          5.21            4.86          4.86             4.66
      61          5.45        5.03          5.32            4.96          4.92             4.73
      62          5.59        5.14          5.44            5.06          4.98             4.80
      63          5.73        5.26          5.56            5.17          5.05             4.87
      64          5.89        5.39          5.69            5.29          5.11             4.94
      65          6.06        5.53          5.83            5.41          5.17             5.01
      66          6.24        5.68          5.97            5.54          5.23             5.08
      67          6.43        5.84          6.11            5.67          5.29             5.14
      68          6.63        6.01          6.26            5.82          5.34             5.21
      69          6.84        6.19          6.42            5.97          5.39             5.28
      70          7.07        6.39          6.57            6.12          5.44             5.34
      71          7.32        6.60          6.74            6.29          5.48             5.39
      72          7.58        6.84          6.91            6.46          5.52             5.45
      73          7.86        7.09          7.08            6.64          5.56             5.49
      74          8.16        7.36          7.25            6.83          5.59             5.54
      75          8.47        7.65          7.42            7.02          5.62             5.57
      76          8.82        7.97          7.59            7.22          5.64             5.61
      77          9.18        8.31          7.77            7.41          5.67             5.64
      78          9.57        8.69          7.94            7.61          5.68             5.66
      79          9.99        9.09          8.11            7.81          5.70             5.68
      80          10.43       9.53          8.27            8.00          5.71             5.70
      81          10.91      10.00          8.43            8.19          5.72             5.71
      82          11.42      10.51          8.58            8.38          5.73             5.72
      83          11.96      11.07          8.72            8.55          5.74             5.73
      84          12.53      11.67          8.85            8.71          5.74             5.74
      85          13.15      12.31          8.98            8.86          5.75             5.74
</TABLE>

                                       24

AS-981 (5/06)
<PAGE>
              OPTION 2V - TABLE OF MONTHLY INSTALLMENTS PER $1,000.
   (MONTHLY INSTALLMENTS FOR AGES NOT SHOWN WILL BE FURNISHED UPON REQUEST.)
                       JOINT & 100% SURVIVOR LIFE ANNUITY

<TABLE>
<CAPTION>
 AGE OF
  MALE
ANNUITANT                               AGE OF FEMALE ANNUITANT
---------                               -----------------------
               55          60         65        70        75         80         85
<S>           <C>         <C>        <C>       <C>       <C>        <C>        <C>
   55         4.09        4.25       4.40      4.52      4.62       4.69       4.74
   60         4.20        4.42       4.64      4.84      5.00       5.13       5.21
   65         4.29        4.56       4.87      5.17      5.45       5.67       5.83
   70         4.35        4.68       5.07      5.49      5.92       6.30       6.60
   75         4.40        4.77       5.23      5.78      6.38       6.99       7.50
   80         4.43        4.83       5.34      6.00      6.79       7.66       8.50
   85         4.45        4.87       5.42      6.15      7.10       8.25       9.49
</TABLE>

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

<TABLE>
<CAPTION>
 AGE OF
  MALE
ANNUITANT                               AGE OF FEMALE ANNUITANT
---------                               -----------------------
               55          60         65        70        75         80         85
<S>           <C>         <C>        <C>       <C>       <C>        <C>        <C>
   55         4.08        4.25       4.40      4.52      4.61       4.68       4.71
   60         4.19        4.41       4.63      4.83      4.99       5.10       5.16
   65         4.28        4.56       4.86      5.15      5.41       5.61       5.73
   70         4.35        4.68       5.05      5.46      5.86       6.18       6.40
   75         4.39        4.76       5.20      5.72      6.27       6.76       7.11
   80         4.42        4.81       5.30      5.91      6.60       7.26       7.77
   85         4.44        4.84       5.36      6.03      6.82       7.63       8.29
</TABLE>

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

<TABLE>
<CAPTION>
 AGE OF
  MALE
ANNUITANT                               AGE OF FEMALE ANNUITANT
---------                               -----------------------
               55          60         65        70        75         80         85
<S>           <C>         <C>        <C>       <C>       <C>        <C>        <C>
   55         4.07        4.22       4.36      4.45      4.51       4.53       4.54
   60         4.17        4.38       4.56      4.71      4.80       4.84       4.85
   65         4.25        4.50       4.74      4.95      5.08       5.14       5.17
   70         4.30        4.58       4.88      5.14      5.31       5.40       5.43
   75         4.32        4.63       4.96      5.25      5.46       5.57       5.61
   80         4.34        4.65       4.99      5.31      5.54       5.66       5.70
   85         4.34        4.66       5.00      5.33      5.57       5.69       5.74
</TABLE>

                                       25

AS-981 (5/06)

<PAGE>
              OPTION 5V - TABLE OF MONTHLY INSTALLMENTS PER $1,000.
                         PAYMENTS FOR A SPECIFIED PERIOD

<TABLE>
<CAPTION>
 NUMBER        MONTHLY      NUMBER      MONTHLY       NUMBER       MONTHLY       NUMBER      MONTHLY
OF YEARS       PAYMENT     OF YEARS     PAYMENT      OF YEARS      PAYMENT      OF YEARS     PAYMENT
--------       -------     --------     -------      --------      -------      --------     -------
<S>            <C>         <C>          <C>          <C>           <C>          <C>          <C>
                              10          8.96          17          5.55           24         4.13
                              11          8.21          18          5.27           25         3.99
    5           17.28         12          7.58          19          5.03           26         3.86
    6           14.51         13          7.05          20          4.81           27         3.75
    7           12.53         14          6.59          21          4.62           28         3.64
    8           11.04         15          6.20          22          4.44           29         3.54
    9           9.89          16          5.85          23          4.28           30         3.44
</TABLE>

                                       26

AS-981 (5/06)
<PAGE>

                      AIG SUNAMERICA LIFE ASSURANCE COMPANY
                     A STOCK COMPANY LOS ANGELES, CALIFORNIA

                              INDIVIDUAL FIXED AND
                            VARIABLE ANNUITY CONTRACT

                                Nonparticipating

                                       27

AS-981 (5/06)

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