Document:

<PAGE>

Exhibit 10.6(j)
---------------

                  LETTER AMENDMENT TO THE REVOLVING CREDIT AND
                           LETTER OF CREDIT AGREEMENT

Letterhead of Mercantile Safe Deposit & Trust Company

May 31, 2001

Mr. Lawrence Rychlak
Senior Vice President and Chief Financial Officer
Environmental Elements Corporation
P. O. Box 1318
Baltimore, Maryland  21203

Dear Larry:

Reference is made to the Revolving Credit and Letter of Credit Agreement dated
November 24, 1993 as amended by and among Environmental Elements Corporation and
Mercantile-Safe Deposit & Trust Company.  Confirming our recent telephone
conversations and electronic correspondence, the maturity date of the Agreement
is to be extended from December 31, 2001 to April 1, 2002 and the financial
covenants are to be revised as follows:

 1.  It will constitute a default if the Borrower experiences an aggregate loss
     exceeding $500,000 for the period April 1, 2001 through September 30, 2001.

 2.  It shall constitute a default if the Borrower experiences an aggregate loss
     for the period April 1, 2001 through December 1, 2001.

 3.  The Borrower must have a net pretax profit of not less than $250,000 for
     the fiscal year ending March 31, 2002.

 4.  For the purpose of calculating profitability, any write-down of the
     $1,200,000 Weldwood receivable will be excluded.

 5.  The requirement contained in Section 6.05 of the Agreement for the Borrower
     to maintain a Minimum Tangible Net Worth of $6,500,000 is to be eliminated.

By copy of this letter, I am requesting that J. Michael Brennan, Esq. draft an
amendment to the loan documentation reflecting the above terms.

Very truly yours,

Philip G. Enstice

                                      45<PAGE>
[AILIFE LOGO] (R)                          American International Life Assurance
                                           Company of New York
                                           80 Pine Street
                                           New York, New York 10005
                                           A capital stock company

--------------------------------------------------------------------------------

This Group Contract is a contract between American International Life Assurance
Company of New York ("We", "Us" or "Our") and the Group Contract Owner ("You" or
"Your") shown on the Group Contract Schedule.

Subject to the terms of this Group Contract and the Certificates We issue to
each Certificate Owner, We will provide the benefits described in this Group
Contract. We do this in return for the application of the Group Contract Owner,
and any required individual applications for the annuity coverage on the
Annuitant(s) and for the payment of the premiums.

This Group Contract becomes effective at 12:01 A.M. Standard Time on the Group
Contract Effective Date at the address of the Group Contract Owner and will
continue in force, in accordance with the applicable provisions, unless
terminated in accordance with its provisions.

This Group Contract is non-participating and is not entitled to share in Our
surplus earnings.

            /s/ Elizabeth M. Tuck           /s/ Gerald Wyndorf

                   Secretary                     President

                      GROUP VARIABLE ANNUITY GROUP CONTRACT
                                Non-Participating

<PAGE>

--------------------------------------------------------------------------------
                                      INDEX
--------------------------------------------------------------------------------

Group Contract Sections                                                     Page

Group Contract Schedule                                                        3
Group Contract Provisions                                                      4

                                       2
<PAGE>

                             GROUP CONTRACT SCHEDULE

GROUP CONTRACT NUMBER:             00001

GROUP CONTRACT OWNER:              Direct Consumer's Group Trust Dated December
                                    22, 1995

GROUP CONTRACT EFFECTIVE DATE:     September 1, 2001

ELIGIBLE PERSONS:                  Customers of participating financial
                                    institutions.

ANNUITY SERVICE OFFICE:            [American International Life Assurance
                                    Company of New York
                                   c/o Delaware Valley Financial Services
                                   300 Berwyn Park
                                   P.O. Box 3031
                                   Berwyn, PA  19312-0031
                                   (800)255-8402 ]

                                        3
<PAGE>

                            GROUP CONTRACT PROVISIONS

Eligible Persons. Persons eligible to become insured under this Group Contract
are those described as Eligible Persons on the Group Contract Schedule.

Certificates. We will issue a Certificate to each Certificate Owner describing
the annuity coverage under this Group Contract. The certificate will describe
the benefits of this Group Contract, to whom the benefits will be paid, and the
limitations and conditions that apply.

A certificate may be modified by rider or endorsement issued by Us to be
attached to the certificate. The rider or endorsement will set forth the
modifications to the certificate which affect the Annuitant.

Premiums. All premiums are payable to Us. The initial premium for each Annuitant
is shown on the Contract Schedule page.

Required Data. The Group Contract Owner must give Us all data that We need to
administer this Group Contract.

Examination Of Records. We have the right to examine all records of the Group
Contract Owner that pertain to the annuities provided by this Group Contract.

Continuation Of This Group Contract. This Group Contract will continue in force,
subject to the Group Contract Termination provision.

Entire Contract. The entire contract ("Group Contract") consists of this Group
Contract, the certificates, the Group Contract Owner's application, each
Certificate Owner's application for an annuity issued under this Group Contract,
and any attached riders, endorsements or amendments.

We rely on the Group Contract Owner's application to issue this Group Contract
and the individual applications, if any, to issue certificates providing annuity
coverage on each Annuitant. Statements made by the Group Contract Owner are
deemed to be representations and not warranties. No such statement will be used
to contest this Group Contract, a certificate or a claim unless a copy of the
instrument is furnished tot he person making the statement or to his/her
beneficiary.

Changing This Group Contract. This Group Contract may only be changed, in
writing, by one of our executive officers. No other person, including an agent,
has any authority to change or reinstate this Group Contract or extend the time
for paying a premium.

Conformity With State Statutes. Any provision of this Group Contract that, on
the Group Contract Effective Date, conflicts with state laws of the governing
jurisdiction is changed to meet the minimum requirements of those laws.

Group Contract Termination. This Group Contract may only be terminated with
respect to the issuance of new certificates. Either We or the Group Contract
Owner may terminate this Group Contract upon giving at least 31 days written
notice to the other. We will not terminate this Group Contract prior to the end
of the first year following the Group Contract Effective Date.

Clerical Error. Clerical error will not void any certificate issued under this
Group Contract which is otherwise validly in force, nor will it keep in force
any certificate that otherwise would end.

Certificate Provisions Made Part Of This Group Contract. The remainder of this
Group Contract consists of provisions that appear in the certificates, riders
and endorsements. A copy of the certificates, riders and endorsements is added
to and made a part of this Group Contract.

                                        5
<PAGE>

                                [AILIFE LOGO] (R)

           American International Life Assurance Company of New York
                                 80 Pine Street
                            New York, New York 10005

                      GROUP VARIABLE ANNUITY GROUP CONTRACT
                                Non-Participating[AILIFE LOGO] (R)                          American International Life Assurance
                                           Company of New York
                                           80 Pine Street
                                           New York, New York 10005
                                           A capital stock company

--------------------------------------------------------------------------------

This is a legal contract issued in consideration of the payment of the Initial
Premium. We will make annuity payments as set forth in this certificate
beginning on the Annuity Date.

READ YOUR CERTIFICATE CAREFULLY

RIGHT TO CANCEL THIS CERTIFICATE

This certificate may be returned within (a) 10 days after You receive it; or (b)
60 days after You receive it if You have indicated on Your application that this
policy will replace other insurance. It can be mailed or delivered to either Us
or Our agent. Return of this certificate by mail is effective as of the date of
its postmark, properly addressed and postage pre-paid. The returned certificate
will be treated as if We had never issued it. We will promptly refund the
Contract Value and any fees paid for Premium allocated to the Variable Account
(this may be more or less than Premium paid) and Premium plus earnings for
Premium allocated to the Guaranteed Account.

This is a variable annuity certificate. Annuity payments and Contract Value may
increase or decrease depending on the experience of the Variable Account
identified in the Contract Schedule.

The assets of the Variable Account must earn a minimum annual rate of 6.4% so
that the dollar amount of the variable annuity payments will not decrease below
the level shown in the Options On A Variable Basis Table on page 16.

Signed by the Company:

            /s/ Elizabeth M. Tuck           /s/ Gerald Wyndorf

                   Secretary                     President

                             CERTIFICATE OF COVERAGE

                   FLEXIBLE PREMIUM DEFERRED VARIABLE ANNUITY
                                NONPARTICIPATING

<PAGE>

                                TABLE OF CONTENTS

                                                         PAGE
                 CONTRACT SCHEDULE                         3
                 DEFINITIONS                               4
                 GENERAL PROVISIONS                        5
                 OWNERSHIP PROVISIONS                      6
                 BENEFICIARY PROVISIONS                    6
                 PREMIUM PROVISIONS                        6
                 PREMIUM ENHANCEMENT                       7
                 VARIABLE ACCOUNT                          7
                 GUARANTEED ACCOUNT                        8
                 TRANSFERS                                 8
                 CERTIFICATE CHARGES                       9
                 DOLLAR COST AVERAGING                     9
                 AUTOMATIC ASSET REBALANCING              10
                 ANNUITY PROVISIONS                       11
                 ANNUITY OPTIONS                          11
                 DEATH BENEFIT                            13
                 SURRENDER PROVISIONS                     14
                 SYSTEMATIC SURRENDERS                    14
                 DELAY OF PAYMENTS                        15
                 FIXED OPTIONS TABLE                      16
                 VARIABLE OPTIONS TABLE                   17

                                       2
<PAGE>

                                CONTRACT SCHEDULE

GROUP CONTRACTHOLDER: DIRECT CONSUMER'S GROUP TRUST DATED DECEMBER 22, 1995

GROUP CONTRACT NUMBER:  1234        INITIAL PREMIUM:             $50,000

CERTIFICATE NUMBER:     5678        MINIMUM SUBSEQUENT PREMIUM:  $1,000

OWNER:                  John Doe    EFFECTIVE DATE:              January 3, 2000

JOINT OWNER             Jane Doe    ANNUITY DATE:                January 3, 2030

ANNUITANT:              John Doe

ADMINISTRATIVE CHARGE: Equal on an annual basis to .15% of the average daily net
assets of the Variable Account.

MORTALITY AND EXPENSE RISK CHARGE: Equal on an annual basis to 1.25% of the
average daily net assets of the Variable Account.

DISTRIBUTION CHARGE: Equal on an annual basis to .20% of the average daily net
assets of the Variable Account.

TRANSFER FEE: $10.00 per transfer. However, we will not make a charge for the
first 12 transfers in any Contract Year.

PREMIUM ENHANCEMENT:           [1-6%]

SURRENDER CHARGE:

<TABLE>
<CAPTION>

Number of Complete Years      Percentage of          Number of Complete Years    Percentage of
Since Premium Payment         Premium                Since Premium Payment       Premium

<S>                               <C>                <C>                               <C>
0                                 6%                 4                                 4%
1                                 6%                 5                                 3%
2                                 5%                 6                                 2%
3                                 5%                 7 and later                       0%
</TABLE>

SEPARATE ACCOUNT ALLOCATIONS:   Variable Account A

[ANNUAL RATCHET RIDER CHARGE: Equal on an annual basis to .10% of the net assets
of the Variable Account, this charge will be calculated and deducted monthly.]

      ANNUITY SERVICE OFFICE: | American International Life Assurance Company |
                              |                 of New York                   |
                              | c/o Delaware Valley Financial Services        |
                              |    300 Berwyn Park                            |
                              |     P.O. Box 3031                             |
                              | Berwyn, PA 19312-0031                         |
                              |    (800) 255-8402                             |

                                       3
<PAGE>

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

                                   DEFINITIONS

ACCUMULATION UNIT - An accounting unit of measure used to calculate the Contract
Value prior to the Annuity Date.

ADMINISTRATIVE OFFICE - The Annuity Service Office of the Company as designated
on the Contract Schedule.

ANNUITANT - The person designated by the Owner upon whose continuation of life
any annuity payment involving life contingencies depends.

ANNUITY DATE - The date on which annuity payments are to commence.

ANNUITY OPTION - An arrangement under which annuity payments are made under this
certificate.

ANNUITY UNIT - An accounting unit of measure used to calculate annuity payments
after the Annuity Date.

BENEFICIARY - The person(s) who is(are) entitled to the Death Benefit of this
certificate when there is no surviving Owner or the person(s) who is(are)
entitled to receive the remaining annuity payments, if any, when the Annuitant
dies after the Annuity Date.

CONTRACT ANNIVERSARY - An anniversary of the Effective Date of this certificate.

CONTRACT VALUE - The dollar value as of any Valuation Date of all amounts
accumulated under this certificate.

CONTRACT YEAR - Each period of twelve (12) months commencing with the Effective
Date.

EFFECTIVE DATE - The date shown on the Contract Schedule on which the first
Contract Year begins.

ELIGIBLE INVESTMENT(S) - Those investments available under the certificate.
Eligible Investments, at the time this certificate is issued, are shown in the
application for this certificate.

GUARANTEED ACCOUNT - A part of Our General Account which earns a Guaranteed Rate
of interest.

JOINT OWNER - The person named as Joint Owner on the application and listed in
the Contract Schedule, unless subsequently changed. The Joint Owner, if any,
possesses an undivided interest in this certificate in conjunction with the
Owner. All references within this certificate to Owner will apply to both the
Owner and the Joint Owner or to either of them.

OWNER - The person named as Owner on the application and listed in the Contract
Schedule, unless subsequently changed. The Owner has all rights under this
certificate.

PREMIUM - Purchase payments are referred to in this certificate as Premiums.
Premiums do not include any Premium Enhancement.

SUBACCOUNT - A division of the Variable Account established to invest in a
particular portfolio of Eligible Investments.

YOU, YOUR - The Owner of this certificate.

VALUATION DATE - Each day that the New York Stock Exchange is open for trading.

VALUATION PERIOD - The period between the close of business of the New York
Stock Exchange on any Valuation Date and the close of business for the next
succeeding Valuation Date.

VARIABLE ACCOUNT - The Separate Account designated on the Contract Schedule.

WE, OUR, US - American International Life Assurance Company of New York.

WRITTEN REQUEST - A request made in a form satisfactory to Us and either signed
by You or confirmed by Us in writing to You. A Written Request takes effect when
received and recorded at Our Administrative Office unless specifically noted as
otherwise within this certificate.

                                       4
<PAGE>

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

                               GENERAL PROVISIONS

THE CERTIFICATE - The entire contract consists of the group contract, this
certificate, and any attached endorsement, rider or application. Nothing in the
group contract invalidates or impairs any right granted to You under this
certificate. This certificate may be changed or altered only by Our President or
Secretary. Any change, modification or waiver must be made in writing.

NON-PARTICIPATION IN SURPLUS - This certificate does not share in any
distribution of Our profits or surplus.

INCONTESTABILITY - This certificate is not contestable.

MISSTATEMENT OF AGE OR SEX - We will require proof of age and sex of the
Annuitant before making any life annuity payment provided for by this
certificate. If the age or sex of the Annuitant has been misstated, the amount
payable will be the amount that the Contract Value would have provided at the
true age or sex.

Once annuity payments have begun, any underpayments will be made up in one sum
including interest at the annual rate of 3%, unless a higher interest rate is
required by the law of the jurisdiction where this certificate is delivered,
with the next annuity payment. Overpayments including interest at the annual
rate of 3%, unless a higher interest rate is required by the law of the
jurisdiction where this certificate is delivered, will be deducted from the
future annuity payments until the total is repaid.

CERTIFICATE SETTLEMENT - This certificate must be returned to Us upon settlement
as a death claim. Prior to any settlement as a death claim, due proof of death
must be submitted to Us.

FACILITY OF PAYMENT - If any recipient is unable to give a valid receipt for a
payment made under this certificate, We may make payments to the person who, in
Our opinion is caring for that recipient until claim is made by the recipient's
duly appointed guardian or other legal representative.

REPORTS - We will furnish You with a report showing the Contract Value, Cash
Surrender Value and Death Benefit at least once each calendar year. These
reports will be sent to Your last known address.

TAXES - Any taxes paid to any governmental entity will be charged against the
Premiums or the Contract Value, depending upon the Owner's state of residence.
We may, at Our sole discretion, pay taxes when due and deduct that amount from
the Contract Value at a later date. Our payment of such taxes at an earlier date
does not waive any right We may have to deduct amounts at a later date.

EVIDENCE OF SURVIVAL - Where any benefits under this certificate are contingent
upon the recipient being alive on a given date, We will require proof
satisfactory to Us that the condition has been met.

PROTECTION OF PROCEEDS - No payment under this certificate may be commuted or
assigned before it is due. To the extent permitted by law, no payments will be
subject to any creditor claim nor to any judicial process for payment of such
claim.

MODIFICATION OF CERTIFICATE - This certificate may not be modified by Us,
without Your consent except as may be required by applicable law. If the state
insurance laws or regulations, the federal securities or tax laws or
regulations, or any regulations under which this certificate would qualify as an
annuity change, We may amend this certificate to comply with these changes.

MINIMUM BENEFITS - Any paid-up annuity, cash surrender or death benefit that may
be available under this certificate is not less than the minimum benefits
required by statute in the jurisdiction in which this certificate is delivered.

CONTINUATION OF CERTIFICATE COVERAGE - If the group contract under which this
certificate is issued should terminate, coverage may be continued under this
certificate unless it is surrendered or otherwise ends in accordance with its
terms.

                                       5
<PAGE>

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

                              OWNERSHIP PROVISIONS

OWNER - The Owner and any applicable Joint Owner are Certificate Owner named in
the Contract Schedule.

If there is an Owner and Joint Owner for this certificate, then both owners must
agree to any change in this certificate. If one Owner dies, the surviving Owner
retains all rights of this certificate. All references within this certificate
to Owner will apply to both the Owner and Joint Owner or either of them.

The Owner may exercise all the rights of this certificate, subject to the rights
of:

1.    any assignee under an assignment filed with Our Administrative Office; and

2.    any irrevocably named Beneficiary.

CHANGE OF OWNERSHIP - You may change Ownership of this certificate by submitting
a Written Request to Our Administrative Office. We may require this certificate
for endorsement. The transfer will take effect as of the date the request was
received and recorded at Our Administrative Office.

Change of Ownership does not change the Beneficiary. Any change of Ownership is
subject to any payment made by Us before the request is received and recorded at
Our Administrative Office.

ASSIGNMENT - You may assign this certificate while the Annuitant is alive and
before the Annuity Date. A copy of any assignment must be filed with Our
Administrative Office. We are not responsible for the validity of any
assignment. If You assign this certificate, Your rights and those of any
Beneficiary will be subject to the assignment. An assignment will not affect any
payments We may make or actions We may take before such assignment has been
recorded at Our Administrative Office. The assignment will not be recorded until
We have received sufficient direction from the Owner and assignee as to the
proper allocation of rights under this certificate between the Owner and the
assignee.

A change in ownership or an assignment may result in adverse tax consequences.

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

                             BENEFICIARY PROVISIONS

BENEFICIARY - The Beneficiary is as stated on the application, unless later
changed by Your Written Request. One or more beneficiaries can be named in the
application. If more than one Beneficiary is named, each can be classed as
primary or contingent. If two or more persons are named in a class, their shares
in the proceeds can be stated. The stated shares in the proceeds will be paid to
any primary beneficiaries. If no primary beneficiaries survive, payment will be
made to any surviving contingent beneficiaries. If You have not made other
arrangements with Us, Beneficiaries who survive in the same class will share the
proceeds equally.

DEATH OF BENEFICIARY - If no named Beneficiary is living at the time a death
benefit becomes payable, We will pay the death benefit to the Owner, or, if no
Owner is alive, to the last surviving Owner's estate.

CHANGE OF BENEFICIARY - To change a Beneficiary, a Written Request for a change
of Beneficiary must be received at Our Administrative Office. If the request is
received at Our Administrative Office after the death of the Owner, it will be
effective only if no payment has been made. After the change is recorded, it
will take effect as of the date the request was signed.

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

                               PREMIUM PROVISIONS

PREMIUM - The Initial Premium is due on or before the Effective Date.
Thereafter, Premium payments may be made at any time prior to the Annuity Date,
in an amount equal to or greater than the Minimum Subsequent Premium amount,
shown on the Contract Schedule page.

ALLOCATION OF PREMIUM PAYMENTS - Premiums may be allocated to one or more of the
Subaccounts of the Variable Account or to the Guaranteed Account. Whole
percentages must be used. The allocation of the Initial Premium is shown on the
application. You may change the allocation at any time. We will send
confirmation of Your changes. Any subsequent Premium received will be allocated
in accordance with the most recently received allocation instructions.

                                       6
<PAGE>

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

                               PREMIUM ENHANCEMENT

PREMIUM ENHANCEMENT - On the Effective Date, the Initial Premium will be
increased by a credit equal to the amount shown in the Contract Schedule. The
Premium Enhancement will be allocated to the Subaccounts or to the Guaranteed
Account in the same manner as the Initial Premium. Any subsequent Premium
Enhancement may be granted at Our sole discretion.

EFFECT OF A SURRENDER OR DEATH OF THE OWNER ON THE PREMIUM ENHANCEMENT - If,
during the first twenty-four (24) months following receipt of a Premium
Enhancement and prior to the Annuity Date, You die, or surrender all or a
portion of this certificate and a surrender charge applies, a proportionate part
of that Premium Enhancement will be deducted from the Contract Value. The
proportionate part of the Premium Enhancement to be deducted will not exceed the
proportionate reduction in the Contract Value which results from Your death or
from the surrender.

Any part of a Premium Enhancement deducted from the Contract Value will be
withdrawn from the value in each Subaccount and the Guaranteed Account in the
ratio that the value of each Subaccount and the Guaranteed Account bears to the
total Contract Value.

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

                                VARIABLE ACCOUNT

GENERAL DESCRIPTION - The name of the Variable Account is shown in the Contract
Schedule. The assets of the Variable Account and each Subaccount are Our
property but are not chargeable with the liabilities arising out of any other
business We may conduct, except to the extent that Variable Account assets
exceed Variable Account liabilities arising under the contracts or certificates
supported by the Variable Account. The Variable Account and each Subaccount is
separate from Our General Account and any other separate account or Subaccount
We may have.

INVESTMENT ALLOCATIONS TO THE VARIABLE ACCOUNT - The Variable Account consists
of Subaccounts and each Subaccount may invest its assets in a separate class of
shares of a designated investment company or companies.

We have the right to change, add or delete designated investment companies. We
have the right to add or remove Subaccounts. We also have the right to combine
any two or more Subaccounts.

VOTING RIGHTS - To the extent required by law, we will vote the portfolio shares
held in the variable account at shareholder meetings in accordance with
instructions received from persons having a voting interest in the portfolio.

VALUATION OF ASSETS - Assets within each Subaccount will be valued at their net
asset value on each Valuation Date.

CONTRACT VALUE - Premiums are allocated among the various Subaccounts within the
Variable Account. For each Subaccount, the Premiums are converted into
Accumulation Units. The number of Accumulation Units credited to the certificate
is determined by dividing the Premiums allocated to the Subaccount by the value
of the Accumulation Unit for the Subaccount. Surrenders will result in the
cancellation of Accumulation Units. The value of the certificate is the sum of
the values for the certificate within each Subaccount and the Guaranteed
Account. The value of each Subaccount is determined by multiplying the number of
Accumulation Units attributable to the Subaccount by the Accumulation Unit
value for the Subaccount, independent of the value of any other Subaccount.

ACCUMULATION UNIT VALUES - The value of an Accumulation Unit will vary in
accordance with the investment experience of the underlying portfolio in which
the Subaccount invests. The value of Accumulation Units in each Subaccount will
change daily to reflect the investment experience of the corresponding
underlying portfolio as well as the daily deduction of the Certificate Charges.
The value of an Accumulation Unit for a Subaccount is determined as shown below,
by subtracting item 2. from item 1, and dividing the result by item 3, where

1.    is the net result of:

      a)    the assets of the Subaccount attributable to the Accumulation Units;
            plus or minus
      b)    the cumulative charge or credit for taxes reserved which is
            determined by Us to have resulted from the operation of the
            Subaccount;

2.    is the cumulative unpaid charge for the Mortality and Expense Risk Charge,
      the Administrative Charge and for the Distribution Charge, which are shown
      in the Contract Schedule; and

3.    is the number of Accumulation Units outstanding at the end of the
      Valuation Period.

The value of Accumulation Units is expected to increase or decrease from
Valuation Period to Valuation Period. The number of Accumulation Units credited
to a certificate will not change as a result of any fluctuations in the value of
an Accumulation Unit.

                                        7
<PAGE>

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

                               GUARANTEED ACCOUNT

GENERAL DESCRIPTION - The Guaranteed Account is a part of Our General Account.
The amount You have in the Guaranteed Account at any time is a result of
Premiums You have allocated to it or any part of Your Contract Value you have
transferred to it.

GUARANTEE PERIOD - The portion of Your Contract Value within the Guaranteed
Account is credited with interest at rates guaranteed by Us for the Guarantee
Period. Interest is credited on a daily basis at the then applicable effective
guaranteed interest rate for the applicable Guarantee Period. You may select
from one or more Guarantee Periods which We 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 Premium to a Guarantee Period, the amount
allocated as well as the duration of the Guarantee Period is shown on the
application.

The guaranteed interest rate applicable to an allocation of Premium 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 Guaranteed Account, each
allocation or transfer may have a unique effective guaranteed interest rate
associated with that amount. We guarantee that the effective annual rate of
interest for the Guaranteed Account, including any of the Guaranteed Periods,
will not be less than 3%.

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

                                    TRANSFERS

During the Accumulation Period, or after the Annuity Date, provided a variable
Annuity Option was selected, You may transfer all or part of Your interest, in a
Subaccount, or allocated to a Guarantee Period of the Guaranteed Account, to
another Subaccount or Guarantee Period of the Guaranteed Account. However, after
the Annuity Date no transfers may be made between a Subaccount and the
Guaranteed Account. The Transfer Fee is shown on the Contract Schedule.

All transfers are subject to the following:

1.    The deduction of any Transfer Fee that may be imposed will be deducted
      from the amount which is transferred. However, no Transfer Fee will be
      imposed on transfers resulting from the expiration of a Guarantee Period.

2.    If We have not received transfer instructions prior to the end of a
      Guarantee Period in which You have Contract Value, We will automatically
      transfer it to a new Guarantee Period of the same duration and under the
      same restrictions as if You had requested such transfer.

3.    The minimum amount which may be transferred is the lesser of (A) $1,000 or
      (B) Your entire interest in the Subaccount or in the amount allocated to
      the Guarantee Period of the Guaranteed Account.

4.    No partial transfer will be made if, as a result of such transfer, Your
      remaining Contract Value in the Subaccount or in the amount allocated to
      the Guarantee Period of the Guaranteed Account would be less than $1,000.

5.    Transfers will be effected during the Valuation Period next following
      receipt by Us of a written transfer request containing all required
      information. However, no transfer may be made effective within seven
      calendar days of the date on which any annuity payment is due.

6.    Any transfer request must clearly specify:

      a.    the amount which is to be transferred; and

      b.    the Subaccounts or Guarantee Periods of the Guaranteed Account which
            are to be affected.

7.    After the Annuity Date, transfers may not take place between a fixed
      Annuity Option and a variable Annuity Option.

                                       8
<PAGE>

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

                               CERTIFICATE CHARGES

All charges and fees shown on the Contract Schedule are the maximum amounts
which We may charge. We may, however, charge less than the maximum.

MORTALITY AND EXPENSE RISK CHARGE - We deduct a Mortality And Expense Risk
Charge equal, on an annual basis, to the amount shown on the Contract Schedule.
We guarantee that the dollar amount of each annuity payment after the first will
not be affected by variations in mortality or expense experience.

ADMINISTRATIVE EXPENSE CHARGE - We deduct an Administrative Expense Charge
equal, on an annual basis, to the amount shown on the Contract Schedule. The
Administrative Expense Charge compensates Us for some of the costs associated
with the administration of this certificate and the Variable Account.

DISTRIBUTION CHARGE - Prior to the Annuity Date, We deduct a Distribution Charge
equal, on an annual basis, to the amount shown on the Contract Schedule.

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

                              DOLLAR COST AVERAGING

DOLLAR COST AVERAGING - Prior to the Annuity Date, using Our Dollar Cost
Averaging Plan Request Form, You may elect automatic monthly transfers from the
Money Market Subaccount, or from the Guaranteed Account, into one or more
Subaccounts for a specified dollar amount or a specified number of months in
accordance with the following:

1.    the allocation to the Subaccounts will be based on instructions provided
      by You, or, if You have not specified the allocations, the allocations
      will be made in accordance with the Premium allocation that is in effect
      at the time of each transfer;

2.    We must receive Your authorization for automatic transfers at least 10
      days prior to the automatic transfer date;

3.    automatic transfers will begin on the first possible transfer date
      following Our receipt of Your authorization;

4.    automatic transfers will occur on the 15th day of each month, or the
      following business day if the 15th is not a business day; and

5.    this option may be elected at any time provided there is a minimum balance
      of $12,000 in Your Money Market Subaccount or the Guaranteed Account.

If You elect to transfer a specific dollar amount each month, automatic
transfers will continue until Your Money Market Subaccount or Guaranteed Account
is depleted. The last transfer may be a lesser amount. If You elect to transfer
based on a specific number of months, each month We will transfer a fraction of
the balance in Your Money Market Subaccount or Guaranteed Account equal to one
divided by the number of months remaining in the period. For example, if You
elect to transfer over a 12 month period, the first transfer will be 1/12th of
the balance in the Money Market Fund or Guaranteed Account, the second transfer
will be 1/11th of the balance, the third transfer will be 1/10th of the balance,
and so on until the end of the requested period.

Automatic monthly transfers will continue until one of the following conditions
occur:

1.    the balance in the Money Market Subaccount or Guaranteed Account is
      depleted;

2.    We receive Your Written Request to cancel future transfers; or

3.    annuity payments begin.

                                       9
<PAGE>

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

                           AUTOMATIC ASSET REBALANCING

Prior to the Annuity Date, You may elect to automatically rebalance Your
Contract Value or to rebalance the Contract Value of any Subaccount provided
Your total Contract Value is initially at least $12,000. Asset rebalancing can
be done on a monthly or quarterly basis, in accordance with the following:

1.    We must receive a signed Asset Rebalancing Request Form with instructions
      from You;

2.    Asset rebalancing will occur on the last business day of the month or
      quarter following Our receipt of Your Asset Rebalancing Request Form in
      accordance with the frequency elected, and at the end of each period
      thereafter;

3.    We must receive Your instructions for asset rebalancing at least ten days
      prior to the date the reallocation is to take effect;

4.    There is no charge for these transfers.

We will stop processing automatic Asset Rebalancing transfers if one of the
following conditions occur:

1.    We receive Your Written Request to cancel future transfers at least ten
      days prior to the next scheduled asset rebalancing date; or

2.    Annuity payments begin.

                                       10
<PAGE>

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

                               ANNUITY PROVISIONS

ANNUITY PAYMENTS - Beginning on the Annuity Date, We will make annuity payments
to the Annuitant in accordance with the Annuity Option in effect on that date.

Annuity payments will be made on a monthly basis unless such payments would be
less than $100 per month. In that event, we reserve the right to amend the
frequency of annuity payments to be semi-annual or annual to ensure annuity
payments are at least $100 per payment. If on the Annuity Date the Contract
Value is less than $2,000, or the annuity payment would be less than $20 per
month, We reserve the right to cancel this contact and pay You the Contract
Value in one lump sum.

CHANGE IN ANNUITY DATE - You may, upon at least thirty (30) days prior Written
Request, at any time prior to the Annuity Date, change the Annuity Date shown on
the Contract Schedule. The Annuity Date must always be the first day of a
calendar month.

Unless We approve otherwise, the new Annuity Date must be at least one year
after the Effective Date. The latest Annuity Date is the first day of the first
calendar month following the Annuitant's 90th birthday or such earlier date as
may be set by applicable law.

SELECTION OF ANNUITY OPTION - If the Annuitant is alive on the Annuity Date, We
will apply the Contract Value to provide an income on the basis of a life income
with 10 years guaranteed, unless another annuity option has been selected. You
may however, upon at least thirty (30) days prior Written Request, at any time
prior to the Annuity Date, select and/or change the Annuity Option.

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

                                 ANNUITY OPTIONS

ANNUITY OPTION - The Annuity Option you select may be on a fixed or variable
basis, or a combination thereof. If, at the time of election of an Annuity
Option, We are using more favorable rates, they will be used in lieu of those
here guaranteed. We may also make available other income options.

OPTION 1 - LIFE INCOME. Monthly annuity payments are paid during the life of an
Annuitant ceasing with the last Annuity Payment due prior to the Annuitant's
death.

OPTION 2 - LIFE INCOME WITH 10 YEAR GUARANTEE. Monthly annuity payments are paid
during the life of an Annuitant, but at least for a 10 year minimum period.

OPTION 3 - JOINT AND LAST SURVIVOR ANNUITY. Annuity payments are paid during the
joint lifetime of the Annuitant and a designated second person and are paid
thereafter during the remaining lifetime of the survivor ceasing with the last
annuity payment due prior to the survivor's death.

--------------------------------------------------------------------------------

                                       11
<PAGE>

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

                         ANNUITY PROVISIONS (Continued)

FIXED OPTIONS

The fixed dollar amount of each fixed annuity payment is determined by
multiplying the available Contract Value (after the deduction of any premium
taxes, if applicable, not previously deducted) by the factor in the Fixed Option
Table for the option chosen, using the age and sex of the Annuitant and Joint
Annuitant, if any, divided by 1,000. If, when annuity payments are elected, We
are using tables of annuity rates for these certificates which result in larger
annuity payments, We will use those tables instead. The annuity payments,
determined at the time of their election, will not be less than payments that
would be provided by the application of the Contract Value to an immediate
annuity then offered by Us at the time of election, for the same class of
annuitants.

--------------------------------------------------------------------------------

VARIABLE OPTIONS

The amount of the first variable annuity payment depends on the Annuity Option
elected and the age and sex of the Annuitant. This certificate contains a
Variable Options Table indicating the dollar amount of the first monthly payment
under each optional annuity form for each $1,000 of value applied. If, when
annuity payments are elected, We are using tables of annuity rates for these
certificates which result in larger annuity payments, We will use those tables
instead.

The 5% interest rate assumed in the annuity tables would produce level annuity
payments if the net investment rate remained constant at 5% per year. Subsequent
payments will be less than, equal to, or greater than the first payment
depending upon whether the actual net investment rate is less than, equal to, or
greater than 5%.

The dollar amount of the first variable annuity payment is determined by
applying the available Contract Value (after deduction of any premium taxes not
previously deducted) to the table using the age and sex of the Annuitant and any
joint Annuitant. The number of Annuity Units is then determined by dividing this
dollar amount by the then current Annuity Unit value. Thereafter, the number of
Annuity Units remains unchanged during the period of annuity payments. This
determination is made separately for each Subaccount of the Variable Account.
The number of Annuity Units is determined for each Subaccount and is based upon
the available value in each Subaccount as of the date annuity payments are to
begin. The dollar amount determined for each Subaccount will then be aggregated
for purposes of making payments. The dollar amount of the second and later
variable annuity payments is equal to the number of Annuity Units determined for
each Subaccount times the Annuity Unit value for that Subaccount as of the due
date of the payment. This amount may increase or decrease from month to month.
The value of an Annuity Unit for a Subaccount is determined as shown below, by
subtracting item 2. from item 1, and dividing the result by item 3, and
multiplying the result by a factor to neutralize the assumed net investment
rate, discussed above, of 5% per annum (which is built into the annuity rate
tables below and which is not applicable because the actual net investment rate
is credited instead) where:

Where:

1.    is the net result of the assets of the Subaccount attributable to the
      Annuity units,

      a)    plus the cumulative credit; or

      b)    minus the cumulative charge

for taxes reserved which is determined by Us to have resulted from the operation
of the Subaccount;

2.    is the cumulative unpaid amounts for the Mortality and Expense Risk Charge
      and the Administrative Charge, which are shown in the Contract Schedule;
      and

3.    is the number of Annuity Units outstanding at the end of the Valuation
      Period.

The value of an Annuity Unit may increase or decrease from Valuation Period to
Valuation Period.

                                       12
<PAGE>

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

                                  DEATH BENEFIT

DEATH OF THE OWNER - If an Owner dies before the Annuity Date and there is a
surviving Joint Owner, a Death Benefit is payable to the surviving Joint Owner.
If an Owner dies prior to the Annuity Date and there is no surviving Joint
Owner, a Death Benefit is payable to the Beneficiary. The value of the death
benefit will be determined as of the date We receive proof of death in a form
acceptable to Us. If there has been a change of Owner from one natural person to
another natural person, the death benefit will be the Contract Value unless the
change of ownership results from the election, made by a surviving spouse as
designated Beneficiary to continue the certificate. Otherwise, We will pay the
death benefit equal to the greatest of:

1.    The total of all Premiums paid, less an adjustment for each surrender. The
      adjustment will be a proportionate reduction made to each Premium paid
      prior to the surrender in the same proportion that the Contract Value was
      reduced on the date of a surrender; or

2.    The Contract Value; or

3.    The greatest Contract Value on any seventh Contract Anniversary reduced
      proportionally by any surrenders subsequent to that Contract Anniversary
      in the same proportion that the Contract Value was reduced on the date of
      a surrender, plus any Premium paid subsequent to that Contract
      Anniversary.

The amount of the reduction in the death benefit under items 1 and 3 above would
be determined as "A" multiplied by the result of "B" divided by "C" where:

"A" is the death benefit prior to the surrender,
"B" is the amount by which the Contract Value is reduced as a result of a
    surrender, and
"C" is the Contract Value prior to the surrender.

Example:

If the death benefit prior to the partial surrender is $50,000, the Contract
Value prior to the partial surrender is $40,000, and a $10,000 partial surrender
is requested, the reduction in the death benefit as of the date of the partial
surrender would be determined as follows:

                  | $10,000 |
$50,000 x         | ------- |     = $12,500
                  | $40,000 |

The new death benefit would be:

$50,000 - $12,500 = $37,500

The surviving Joint Owner or Beneficiary may elect the death benefit to be paid
as follows:

1.    payment of the entire death benefit within 5 years of the date of the
      Owner's death; or

2.    payment over a period not extending beyond the life expectancy of the
      surviving Joint Owner or designated Beneficiary based on Tables V and VI
      of section 1.72-9 of the Income Tax Regulation with distribution beginning
      within 1 year of the date of death of the Owner; or

3.    if the surviving Joint Owner or designated Beneficiary is a spouse of a
      deceased Owner, he/she can continue this certificate in his/her own name.

If no payment option is elected within 60 days of Our receipt of proof of the
Owner's death, a single sum settlement will be made at the end of the sixty (60)
day period following such receipt. Upon payment of the death benefit, this
certificate will end.

If the Owner is a person other than the Annuitant, and if the Owner's death
occurs on or after the Annuity Date, no death benefit will be payable under this
certificate. Any guaranteed payments remaining unpaid will continue to be paid
to the Annuitant pursuant to the Annuity Option in force at the date of the
Owner's death.

If the Owner is not an individual, any change of Annuitant or death of Annuitant
before the Annuity Date will be treated as if the Owner had died on the date of
such change or death. If the Annuitant is changed, the Death Benefit will be the
Surrender Value. If the Annuitant dies, the Death Benefit will be the Death
Benefit which would be payable under this contract if the Owner was an
individual.

DEATH OF THE ANNUITANT - If the Annuitant is a person other than the Owner and
the Owner is an individual, and if the Annuitant dies before the Annuity Date, a
new Annuitant may be named by the Owner. If no new Annuitant is named within
sixty (60) days of Our receipt of proof of death, the Owner will be the new
Annuitant. If the Annuitant dies after the Annuity Date, the remaining payments,
if any, will be as specified in the Annuity Option elected. We will require
proof of the Annuitant's death. Death benefits, if any, will be paid to the
designated Beneficiary at least as rapidly as under the method of distribution
in effect at the Annuitant's death.

                                       13
<PAGE>

                              SURRENDER PROVISIONS

SURRENDER - While this certificate is in force and before the Annuity Date, We
will, upon written request, allow the surrender of all or a portion of this
certificate for its Surrender Value. Surrenders will result in the cancellation
of Accumulation Units from each applicable Subaccount and the Guaranteed Account
in the ratio that the value of each account bears to the total Contract Value.
You must specify by Written Request in advance which units are to be canceled if
other than the above described method of cancellation is desired. We will pay
the amount of any surrender within seven (7) days of receipt of a request unless
the "Delay of Payments" provision is in effect.

The Surrender Value will be the Contract Value as of the date of Our receipt of
Your Written Request, for surrender, reduced by the sum of:

1.    any applicable premium taxes not previously deducted; plus

2.    any applicable Surrender Charge.

CALCULATION OF SURRENDER CHARGE - If all or a portion of the Surrender Value is
surrendered, a Surrender Charge will be calculated at the time of each surrender
and will be deducted from the Contract Value. In calculating the Surrender
Charge, Premiums will be allocated at the time of surrender on a first-in,
first-out basis.

The amount of the Surrender Charge is calculated by:

1.    reducing the amount to be surrendered by the greater of:

      a)    the accumulated earnings of this certificate (i.e., the Contract
            Value minus Premiums which have not been allocated to amounts
            previously surrendered); or

      b)    10% of all remaining unsurrendered Premiums, decreased by any
            surrender made since the last Contract Anniversary; then

2.    allocating Premiums to the remaining amount to be surrendered; and

3.    multiplying each such allocated Premium by the applicable Percentage of
      Premium shown in the Contract Schedule for the period since such Premium
      was paid; and

4.    adding the products of each multiplication in (3) above.

For a partial surrender, the Surrender Charge will be deducted from the
remaining Contract Value, if sufficient; otherwise it will be deducted from the
amount surrendered. Partial surrenders will be considered in calculating any
death benefit payable under this certificate.

Surrenders may be subject to taxes and or federal tax penalties. You should
consult Your tax advisor prior to taking any surrenders.

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

                              SYSTEMATIC SURRENDERS

Prior to the Annuity Date, You may request systematic surrenders from the
Contract Value on a monthly, quarterly, semi-annual or annual basis. Systematic
surrenders are subject to the following conditions:

1.    We must receive a completed and signed Systematic Withdrawal Request Form
      from You at least 10 days prior to the first withdrawal date;

2.    the Contract Value must be at least $24,000 as of the date of the first
      systematic surrender;

3.    the minimum withdrawal amount is $200 per withdrawal;

4.    systematic surrenders are subject to the Surrender Provision above;

5.    Systematic surrenders will occur on the 10th day of the month, or the
      following business day if the 10th is not a business day, in accordance
      with the frequency elected;

Systematic Surrenders will continue until one of the following conditions
occurs:

1.    We receive your Written Request to cancel future systematic surrenders;

2.    Your Contract Value falls below $1,000;

3.    We receive notification of the death of the Owner; or

4.    Annuity payments begin.

If the systematic surrender program is cancelled, You may not elect to
participate in the program again until the beginning of the next Contract Year.

                                       14
<PAGE>

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

                                DELAY OF PAYMENTS

DELAY OF PAYMENTS - We will make any payments under this certificate within 7
days (or any shorter period, if required by law) of a request received in good
order. We reserve the right to suspend or postpone any type of payment from the
Variable Account for any period when:

1.    the New York Stock Exchange is closed for other than customary weekend and
      holiday closings:

2.    trading on the Exchange is restricted;

3.    an emergency exists as a result of which it is not reasonably practicable
      to dispose of securities held in the Variable Account or determine their
      value; or

4.    the Securities and Exchange Commission so permits delay for the protection
      of security holders.

The applicable rules of the Securities and Exchange Commission will govern as to
whether the conditions in 2 or 3 exist.

We reserve the right to delay any type of payment from the Guaranteed Account
for up to six (6) months from the date we receive the request for payment.

                                       15
<PAGE>

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

                            Options On A Fixed Basis

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
                                                    Option 1: Life Income *
-------------------------------------------------------------------------------------------------------------------------------
                                                    Monthly Income per $1,000
-------------------------------------------------------------------------------------------------------------------------------
      Year of                   2010                      2020                      2030                       2040
   Annuitization
-------------------------------------------------------------------------------------------------------------------------------
         Age             Male        Female          Male        Female       Male         Female        Male        Female
-------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>          <C>            <C>          <C>         <C>           <C>          <C>          <C>
         30              3.16         3.06           3.12         3.03        3.09          3.00         3.06         2.97
-------------------------------------------------------------------------------------------------------------------------------
         35              3.30         3.18           3.25         3.14        3.21          3.10         3.18         3.07
-------------------------------------------------------------------------------------------------------------------------------
         40              3.48         3.32           3.42         3.28        3.37          3.23         3.32         3.20
-------------------------------------------------------------------------------------------------------------------------------
         45              3.70         3.51           3.63         3.45        3.57          3.40         3.51         3.35
-------------------------------------------------------------------------------------------------------------------------------
         50              3.98         3.74           3.89         3.67        3.82          3.60         3.74         3.54
-------------------------------------------------------------------------------------------------------------------------------
         55              4.34         4.05           4.23         3.95        4.13          3.87         4.04         3.79
-------------------------------------------------------------------------------------------------------------------------------
         60              4.82         4.45           4.68         4.33        4.55          4.22         4.43         4.12
-------------------------------------------------------------------------------------------------------------------------------
         65              5.48         4.99           5.29         4.83        5.12          4.68         4.96         4.55
-------------------------------------------------------------------------------------------------------------------------------
         70              6.38         5.75           6.13         5.53        5.89          5.33         5.69         5.16
-------------------------------------------------------------------------------------------------------------------------------
         75              7.62         6.86           7.26         6.54        6.95          6.26         6.66         6.02
-------------------------------------------------------------------------------------------------------------------------------
         80              9.35         8.48           8.85         8.02        8.41          7.61         8.02         7.26
-------------------------------------------------------------------------------------------------------------------------------
         85             11.76        10.89          11.08        10.21       10.48          9.62         9.96         9.11
-------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
                                  Option 2: Life Income with 10 years payments Guaranteed *
-------------------------------------------------------------------------------------------------------------------------------
                                                  Monthly Income per $1,000
-------------------------------------------------------------------------------------------------------------------------------
      Year of                   2010                      2020                       2030                      2040
   Annuitization
-------------------------------------------------------------------------------------------------------------------------------
         Age              Male        Female         Male        Female        Male        Female         Male        Female
-------------------------------------------------------------------------------------------------------------------------------
<S>                       <C>          <C>           <C>          <C>          <C>          <C>           <C>          <C>
         30               3.16         3.06          3.12         3.03         3.09         3.00          3.06         2.97
-------------------------------------------------------------------------------------------------------------------------------
         35               3.30         3.17          3.25         3.14         3.21         3.10          3.17         3.07
-------------------------------------------------------------------------------------------------------------------------------
         40               3.47         3.32          3.42         3.27         3.37         3.23          3.32         3.19
-------------------------------------------------------------------------------------------------------------------------------
         45               3.69         3.50          3.62         3.44         3.56         3.39          3.50         3.35
-------------------------------------------------------------------------------------------------------------------------------
         50               3.96         3.73          3.87         3.66         3.80         3.60          3.73         3.54
-------------------------------------------------------------------------------------------------------------------------------
         55               4.30         4.03          4.20         3.94         4.10         3.86          4.02         3.78
-------------------------------------------------------------------------------------------------------------------------------
         60               4.74         4.41          4.61         4.29         4.50         4.19          4.39         4.10
-------------------------------------------------------------------------------------------------------------------------------
         65               5.31         4.91          5.15         4.76         5.01         4.63          4.87         4.51
-------------------------------------------------------------------------------------------------------------------------------
         70               6.02         5.57          5.83         5.39         5.65         5.22          5.48         5.07
-------------------------------------------------------------------------------------------------------------------------------
         75               6.85         6.42          6.63         6.19         6.42         5.98          6.23         5.79
-------------------------------------------------------------------------------------------------------------------------------
         80               7.73         7.40          7.51         7.16         7.30         6.92          7.10         6.70
-------------------------------------------------------------------------------------------------------------------------------
         85               8.52         8.34          8.35         8.13         8.18         7.93          8.02         7.73
-------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
                                    Option 3: Joint (Male and Female) and Last Survivor *
-------------------------------------------------------------------------------------------------------------------------------
                                                  Monthly Income per $1,000
-------------------------------------------------------------------------------------------------------------------------------
Year of Annuitization                        2020                                                 2040
-------------------------------------------------------------------------------------------------------------------------------
     Female Age            45           55           65           75           45            55           65           75
-------------------------------------------------------------------------------------------------------------------------------
      Male Age
-------------------------------------------------------------------------------------------------------------------------------
<S>                       <C>          <C>          <C>          <C>          <C>           <C>          <C>          <C>
         45               3.25         3.41         3.52         3.59         3.18          3.32         3.42         3.47
-------------------------------------------------------------------------------------------------------------------------------
         55               3.35         3.63         3.90         4.09         3.26          3.52         3.76         3.92
-------------------------------------------------------------------------------------------------------------------------------
         65               3.40         3.80         4.30         4.78         3.31          3.67         4.10         4.52
-------------------------------------------------------------------------------------------------------------------------------
         75               3.43         3.89         4.59         5.54         3.34          3.74         4.36         5.18
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>

o     Values are based on the Annuity 2000 Table projected with Scale G to the
      year of annuitization, with interest at 3.00%.

Values not shown are available from Our Administrative Office on request.

                                       16
<PAGE>

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

                           Options On A Variable Basis

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
                                                  Option 1: Life Income *
----------------------------------------------------------------------------------------------------------------------------
                                                 Monthly Income per $1,000
----------------------------------------------------------------------------------------------------------------------------
        Year of                  2010                     2020                      2030                     2040
    Annuitization
----------------------------------------------------------------------------------------------------------------------------
         Age               Male       Female        Male        Female        Male       Female        Male        Female
----------------------------------------------------------------------------------------------------------------------------
<S>                       <C>         <C>          <C>          <C>          <C>         <C>          <C>          <C>
         30                4.47        4.38         4.44         4.36         4.41        4.34         4.39         4.32
----------------------------------------------------------------------------------------------------------------------------
         35                4.58        4.47         4.55         4.44         4.51        4.41         4.48         4.39
----------------------------------------------------------------------------------------------------------------------------
         40                4.74        4.60         4.69         4.55         4.64        4.52         4.60         4.49
----------------------------------------------------------------------------------------------------------------------------
         45                4.94        4.75         4.88         4.70         4.82        4.65         4.76         4.61
----------------------------------------------------------------------------------------------------------------------------
         50                5.20        4.96         5.12         4.90         5.04        4.83         4.97         4.78
----------------------------------------------------------------------------------------------------------------------------
         55                5.54        5.24         5.43         5.15         5.34        5.07         5.25         5.00
----------------------------------------------------------------------------------------------------------------------------
         60                6.00        5.62         5.86         5.50         5.74        5.40         5.62         5.30
----------------------------------------------------------------------------------------------------------------------------
         65                6.65        6.15         6.46         5.99         6.29        5.84         6.14         5.72
----------------------------------------------------------------------------------------------------------------------------
         70                7.56        6.90         7.30         6.68         7.07        6.48         6.86         6.30
----------------------------------------------------------------------------------------------------------------------------
         75                8.81        8.01         8.45         7.69         8.12        7.41         7.83         7.16
----------------------------------------------------------------------------------------------------------------------------
         80               10.55        9.65        10.05         9.18         9.59        8.76         9.19         8.40
----------------------------------------------------------------------------------------------------------------------------
         85               12.99       12.09        12.30        11.39        11.68       10.79        11.14        10.26
----------------------------------------------------------------------------------------------------------------------------

<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
                                 Option 2: Life Income with 10 years payments Guaranteed *
----------------------------------------------------------------------------------------------------------------------------
                                                 Monthly Income per $1,000
----------------------------------------------------------------------------------------------------------------------------
       Year of                  2010                      2020                      2030                     2040
    Annuitization
----------------------------------------------------------------------------------------------------------------------------
         Age               Male       Female        Male        Female        Male       Female        Male        Female
----------------------------------------------------------------------------------------------------------------------------
<S>                        <C>         <C>          <C>          <C>          <C>         <C>          <C>          <C>
         30                4.47        4.38         4.44         4.36         4.41        4.34         4.39         4.32
----------------------------------------------------------------------------------------------------------------------------
         35                4.58        4.47         4.54         4.44         4.51        4.41         4.48         4.39
----------------------------------------------------------------------------------------------------------------------------
         40                4.73        4.59         4.68         4.55         4.64        4.51         4.60         4.48
----------------------------------------------------------------------------------------------------------------------------
         45                4.92        4.74         4.86         4.69         4.80        4.65         4.75         4.61
----------------------------------------------------------------------------------------------------------------------------
         50                5.16        4.95         5.09         4.88         5.02        4.82         4.95         4.77
----------------------------------------------------------------------------------------------------------------------------
         55                5.48        5.21         5.38         5.13         5.30        5.05         5.22         4.99
----------------------------------------------------------------------------------------------------------------------------
         60                5.90        5.57         5.77         5.46         5.66        5.36         5.56         5.27
----------------------------------------------------------------------------------------------------------------------------
         65                6.44        6.04         6.29         5.90         6.15        5.77         6.02         5.66
----------------------------------------------------------------------------------------------------------------------------
         70                7.12        6.67         6.93         6.49         6.76        6.33         6.60         6.18
----------------------------------------------------------------------------------------------------------------------------
         75                7.90        7.49         7.69         7.27         7.49        7.06         7.31         6.88
----------------------------------------------------------------------------------------------------------------------------
         80                8.73        8.42         8.53         8.18         8.32        7.96         8.13         7.75
----------------------------------------------------------------------------------------------------------------------------
         85                9.48        9.31         9.32         9.11         9.16        8.91         9.00         8.72
----------------------------------------------------------------------------------------------------------------------------

<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
                                   Option 3: Joint (Male and Female) and Last Survivor *
----------------------------------------------------------------------------------------------------------------------------
                                                 Monthly Income per $1,000
----------------------------------------------------------------------------------------------------------------------------
       Year of                                2020                                               2040
    Annuitization
----------------------------------------------------------------------------------------------------------------------------
<S>                        <C>         <C>          <C>          <C>          <C>         <C>          <C>          <C>
     Female Age             45          55           65           75           45          55           65           75
----------------------------------------------------------------------------------------------------------------------------
      Male Age
----------------------------------------------------------------------------------------------------------------------------
         45                4.50        4.64         4.74         4.81         4.45        4.56         4.66         4.71
----------------------------------------------------------------------------------------------------------------------------
         55                4.59        4.83         5.07         5.26         4.52        4.73         4.94         5.10
----------------------------------------------------------------------------------------------------------------------------
         65                4.65        4.98         5.43         5.90         4.57        4.86         5.25         5.65
----------------------------------------------------------------------------------------------------------------------------
         75                4.68        5.08         5.72         6.62         4.59        4.94         5.49         6.27
----------------------------------------------------------------------------------------------------------------------------
</TABLE>

o     Values are based on the Annuity 2000 Table projected with Scale G to the
      year of annuitization, with interest at 5.00%.

Values not shown are available from Our Administrative Office on request.

                                       17
<PAGE>

                                [AILIFE LOGO] (R)

           American International Life Assurance Company of New York
                                 80 Pine Street
                            New York, New York 10005

                            CERTIFICATE OF COVERAGE

                   FLEXIBLE PREMIUM DEFERRED VARIABLE ANNUITY
                                NONPARTICIPATING

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00026-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00026-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00026-of-00352.parquet"}]]