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File Nos. 333-16501, 811-7935
Filed under Rule 497(e)
FIRST GOLDEN AMERICAN LIFE INSURANCE COMPANY OF NEW YORK
PROFILE AND PROSPECTUS SUPPLEMENT
DATED SEPTEMBER 30, 1999
SUPPLEMENT TO THE PROFILE AND PROSPECTUS
DATED MAY 1, 1999, AS AMENDED JUNE 30, 1999 FOR
DEFERRED COMBINATION VARIABLE AND FIXED ANNUITY CONTRACT
ISSUED BY FIRST GOLDEN AMERICAN LIFE INSURANCE COMPANY OF
NEW YORK
(THE "GOLDENSELECT DVA PLUS/R/ PROSPECTUS")
The following information supplements and replaces certain
information contained in the Profile and Prospectus dated
May 1, 1999, as amended, for Deferred Combination Variable
and Fixed Annuity Contracts.
The second sentence in the paragraph under the section
titled "Regular Withdrawals" on page 18 of the Prospectus is
deleted in its entirety and replaced with the following:
"Each withdrawal must be a minimum of $100."
The section titled "Systematic Withdrawals" on page 18 of
the Prospectus is deleted in its entirety and replaced with
the following:
"SYSTEMATIC WITHDRAWALS
You may elect to receive automatic systematic
withdrawal payments (1) from the contract value in the
subaccounts in which you are invested, or (2) from the
interest earned in your Fixed Interest Allocations.
Systematic withdrawals may be taken monthly, quarterly
or annually. You decide when you would like systematic
payments to start as long as it starts at least 28 days
after your contract date. You also select the date on
which the systematic withdrawals will be made, but this
date cannot be later than the 28th day of the month.
If you have elected to receive systematic withdrawals
but have not chosen a date, we will make the
withdrawals on the same calendar day of each month as
your contract date. If your contract date is after the
28th, your systematic withdrawal will be made on the
28th day of each month.
Each systematic withdrawal amount must be a minimum of
$100. The amount of your systematic withdrawal can
either be (1) a fixed dollar amount, or (2) an amount
based on a percentage of your contract value. Both
forms of systematic withdrawals are subject to the
following maximum, which is calculated on each
withdrawal date:
MAXIMUM PERCENTAGE
FREQUENCY OF CONTRACT VALUE
Monthly 1.25%
Quarterly 3.75%
Annually 15.00%
If your systematic withdrawal is a fixed dollar amount
and the amount to be systematically withdrawn would
exceed the applicable maximum percentage of your
contract value on any withdrawal date, we will
automatically reduce the amount withdrawn so that it
equals such percentage. Thus, your fixed dollar
systematic withdrawals will never exceed the maximum
percentage. If you want fixed dollar systematic
withdrawals to exceed the maximum percentage and are
willing to incur associated surrender charges, consider
the Fixed Dollar Systematic Withdrawal Feature which
you may add to your regular systematic withdrawal
program.
105128 9/30/99
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If your systematic withdrawal is based on a percentage
of your contract value and the amount to be
systematically withdrawn based on that percentage would
be less than $100, we will automatically increase the
amount to $100 as long as it does not exceed the
maximum percentage. If the systematic withdrawal would
exceed the maximum percentage, we will send the amount,
and then automatically cancel your systematic
withdrawal option.
Systematic withdrawals from Fixed Interest Allocations
are limited to interest earnings during the prior
month, quarter, or year, depending on the frequency you
chose. Systematic withdrawals are not subject to a
Market Value Adjustment, unless you have added the
Fixed Dollar Systematic Withdrawal Feature discussed
below and the payments exceed interest earnings.
Systematic withdrawals from Fixed Interest Allocations
under the Fixed Dollar Systematic Withdrawal Feature
are available only in connection with Section 72(q) or
72(t) distributions. A Fixed Interest Allocation may
not participate in both the systematic withdrawal
option and the dollar cost averaging program at the
same time.
You may change the amount or percentage of your
systematic withdrawal once each contract year or cancel
this option at any time by sending satisfactory notice
to our Customer Service Center at least 7 days before
the next scheduled withdrawal date. The systematic
withdrawal option may commence in a contract year where
a regular withdrawal has been taken but you may not
change the amount or percentage of your withdrawals in
any contract year during which you have previously
taken a regular withdrawal. You may not elect the
systematic withdrawal option if you are taking IRA
withdrawals.
FIXED DOLLAR SYSTEMATIC WITHDRAWAL FEATURE. You may
add the Fixed Dollar Systematic Withdrawal Feature to
your regular fixed dollar systematic withdrawal
program. This feature allows you to receive a
systematic withdrawal in a fixed dollar amount
regardless of any surrender charges or Market Value
Adjustments. Systematic withdrawals from Fixed
Interest Allocations under the Fixed Dollar Systematic
Withdrawal Feature are available only in connection
with Section 72(q) or 72(t) distributions. You choose
the amount of the fixed systematic withdrawals, which
may total up to an annual maximum of 15% of your
contract value as determined on the day we receive your
election of this feature. The maximum limit will not
be recalculated when you make additional premium
payments, unless you instruct us to do us. We will
assess a surrender charge on the withdrawal date if the
systematic withdrawal exceeds the maximum limit as
calculated on the withdrawal date. We will assess a
Market Value Adjustment on the withdrawal date if the
systematic withdrawal from a Fixed Interest Allocation
exceeds your interest earnings on the withdrawal date.
We will apply the surrender charge and any Market Value
Adjustment directly to your contract value (rather than
to the systematic withdrawal) so that the amount of
each systematic withdrawal remains fixed.
Flat dollar systematic withdrawals which are intended
to satisfy the requirements of Section 72(q) or 72(t)
of the Tax Code may exceed the maximum. Such
withdrawals are subject to surrender charges and Market
Value Adjustment when they exceed the applicable free
withdrawal amount."
This supplement should be retained with your Prospectus.
105128 9/30/99
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