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File No. 333-28765
Filed under Rule 424(b)(3)
GOLDEN AMERICAN LIFE INSURANCE COMPANY
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 GOLDEN AMERICAN LIFE INSURANCE COMPANY
(THE "GoldenSelect Access/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 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amount to be systematically withdrawn would exceed the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withdrawn so that it equals such percentage.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.
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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.
105127 9/30/99
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