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ANCHOR NATIONAL LIFE INSURANCE COMPANY
VARIABLE SEPARATE ACCOUNT
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SUPPLEMENT TO THE POLARIS(II) PROSPECTUS DATED APRIL 1, 1999
Anchor National is no longer offering the plus and max options as part of the
Income Protector feature. If you purchased your contract between November 2,
1998 and March 31, 1999, your contract includes the base Income Protector
feature. Additionally, because the plus and max options were available in your
state of contract issue, you have the benefit of these options for the life of
your contract. If you have not already elected one of these options, you may do
so at anytime.
The income benefit base for the plus or max option accumulates at specified
annual growth rates from the date the option you elect becomes effective.
The current growth rates are as follows:
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Option Growth Rate*
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The Income Protector Plus 3.25%
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The Income Protector Max 6.50%
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* Growth rates are subject to change in the future.
Generally, to elect the plus and max options you must complete the Income
Protector election form available through our Annuity Service Center. Once
elected by you, the option applies for the life of your contract. Your income
benefit base will begin accumulating at the applicable growth rate on the
contract anniversary following our receipt of your election form. In order to
take income using the plus or max option of the Income Protector feature, you
may not begin the Income Phase of your contract for at least seven years
following the later of the date the option becomes effective or your latest
step-up date. Thus, you must make your election prior to the later of (1) your
83rd birthday or (2) your 3rd contract anniversary.
The base Income Protector is a standard feature of your contract at no extra
charge. If you elect the Income Protector plus or max option, we charge a fee as
follows:
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Option Fee as a % of Income Benefit Base
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The Income Protector Plus .15%
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The Income Protector Max .30%
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For more information on the plus and max options, please see the prospectus you
received at the time you purchased your contract, or contact our Annuity Service
Center at (800) 445-7862 or your financial representative.
Date: April 1, 1999
Please keep this Supplement with your Prospectus
