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File Nos. 333-28769, 811-05626
Filed under Rule 497(e)
ING VARIABLE ANNUITIES
GOLDEN AMERICAN LIFE INSURANCE COMPANY
SEPARATE ACCOUNT B OF GOLDEN AMERICAN LIFE INSURANCE COMPANY
PROFILE AND PROSPECTUS SUPPLEMENT
APRIL 1, 2000
SUPPLEMENT TO THE PROSPECTUS DATED FEBRUARY 1, 2000 FOR
DEFERRED COMBINATION VARIABLE AND FIXED ANNUITY CONTRACTS
(THE "GOLDENSELECT ACCESS/R/ PROSPECTUS")
ISSUED BY GOLDEN AMERICAN LIFE INSURANCE COMPANY
FOR USE ONLY IN THE STATE OF WASHINGTON
__________
The following information supplements and replaces certain
information contained
in the Profile and Prospectus dated February 1, 2000
for Deferred Combination Variable and Fixed Annuity Contracts (the
"Prospectus").
The capitalized terms used in this supplement have the same meaning
as
those in the Prospectus. You should keep this supplement with your
Profile and Prospectus.
GoldenSelect Access contracts issued for delivery in the State of
Washington will have a "5.5% Enhanced Death Benefit" and a "Max 5.5
Enhanced Death Benefit." The "7% Solution Enhanced Death Benefit" and
the "Max 7 Enhanced Death Benefit" referred to in the Profile and
Prospectus are not available and not offered in the State of
Washington. The "5.5% Enhanced Death Benefit" and a "Max 5.5
Enhanced Death Benefit" described as follows supplements the
information in the Profile and Prospectus and is made part of those
documents.
PROFILE
5. EXPENSES
The Contract has insurance features and investment features, and
there are charges related to each. For the insurance features, the
Company deducts a mortality and expense risk charge, an asset-based
administrative charge and an annual contract administrative charge of
$30. We deduct the mortality and expense risk charge and the asset-
based administrative charges daily directly from your contract value
in the investment portfolios. The mortality and expense risk charge
(depending on the death benefit you choose) and the asset-based
administrative charge, on an annual basis, are as follows:
5% Solution Max 5.5
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Mortality & Expense Risk Charge 1.45% 1.55%
Asset-Based Administrative Charge 0.15% 0.15%
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Total 1.60% 1.70%
The example table is designed to help you understand contract
charges. The examples of expenses illustrated in the Profile are the
maximum expected expenses associated with a contract which would
occur with the assumptions listed. Using the $30 administration
charge and the expenses listed above, and if all other assumptions
are the same, the fees associated with the Max 5.5 Enhanced Death
Benefit Option would not exceed those shown in the tables.
9. DEATH BENEFIT
You may choose (i) the Standard Death Benefit, (ii) the 5.5% Solution
Enhanced Death Benefit, (iii) the Annual Ratchet Enhanced Death
Benefit or (iv) the Max 5.5 Enhanced Death Benefit. The 7% Solution
Enhanced Death Benefit and the Max 7 Enhanced Death Benefit are not
available in your state. The 5.5% Solution Enhanced Death Benefit,
the Annual Ratchet Enhanced Death Benefit and the Max 5.5 Enhanced
Death Benefit are available only if the contract owner or the
annuitant (if the contract owner is not an individual) is not more
than 79 years old at the time of purchase. The 5.5% Solution, Annual
Ratchet and Max 5.5 Enhanced Death Benefits may not be available
where a Contract is held by joint owners.
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Under the 5.5% SOLUTION ENHANCED DEATH BENEFIT, if you die before the
annuity start date, your beneficiary is eligible to receive the
greatest of:
1)the contract value;
2)the total premium payments made under the Contract after pro rata
adjustment for any withdrawals;
3) the cash surrender value; or
4) the enhanced death benefit, which we determine as follows: we
credit interest each business day at the 5.5% annual effective rate
to the enhanced death benefit from the preceding day (which would be
the initial premium if the preceding day is the contract date), then
we add additional premiums paid since the preceding day, then we
adjust for any withdrawals (including any market value adjustment
applied to such withdrawal) since the preceding day. Special
withdrawals are withdrawals of up to 5.5% per year of cumulative
premiums. Special withdrawals shall reduce the 5.5% Solution Death
Benefit by the amount of contract value withdrawn. For any
withdrawals in excess of the amount available as a special
withdrawal, a prorata adjustment to the death benefit is made.
Note for current Special Funds: The actual interest rate used for
calculating the 5.5% Solution Enhanced Death Benefit for the
Liquid Asset and Limited Maturity Bond investment portfolios and
the Fixed Account, will be the lesser of (1) 5.5% and (2) the
interest rate, positive or negative, providing a yield on the
Guaranteed Death Benefit equal to the net return for the current
valuation period on the contract value allocated to Special Funds.
We may, with 30 days notice to you, designate any fund as a
Special Fund on existing contracts with respect to new premiums
added to such fund and also with respect to new transfers to such
funds.
Under the MAX 5.5 ENHANCED DEATH BENEFIT, if you die before the
annuity start date, your beneficiary will receive the greater of the
5.5% Solution and the Annual Ratchet Enhanced Death Benefit.
Under this benefit option, the 5.5% Solution Enhanced Death Benefit
and the Annual Ratchet Death Benefit are calculated in the same
manner as if each were elected the benefit.
Note: In the cases described above and in the prospectus, the
amount of the death benefit could be reduced by premium taxes owed
and withdrawals not previously deducted.
PROSPECTUS
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FEES AND EXPENSES
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ANNUAL CONTRACT ADMINISTRATIVE CHARGE
Administrative Charge $30
SEPARATE ACCOUNT ANNUAL CHARGES****
5% Solution Max 5.5
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Mortality & Expense Risk Charge 1.45% 1.55%
Asset-Based Administrative Charge 0.15% 0.15%
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Total Separate Account Charges 1.60% 1.70%
**** As a percentage of average daily assets in each subaccount. The
Separate Account Annual Charges are deducted daily.
EXAMPLES
The examples of expenses shown in the Prospectus are the maximum
expected expenses associated with a contract which would occur based
on the election of the Max 7 Enhanced Death Benefit Option using the
assumptions listed in the prospectus. Using the $30 administration
charge and the lower separate account annual charge, and if all other
assumptions are the same the expenses associated with an election of
the 5.5% Solution Enhanced Death Benefit Option or the Max 5.5
Enhanced Death Benefit Option would not exceed those shown in the
example tables in the prospectus.
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DEATH BENEFIT CHOICES
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You may choose from the following 4 death benefit choices: (1) the
Standard Death Benefit Option; (2) the 5.5% Solution Enhanced Death
Benefit Option; (3) the Annual Ratchet Enhanced Death Benefit Option;
and (4) the Max 5.5 Enhanced Death Benefit Option. The 7% Solution
Enhanced Death Benefit and the Max 7 Enhanced Death Benefit are not
available in your state.
ENHANCED DEATH BENEFITS. If the 5.5% Solution Enhanced Death
Benefit, the Annual Ratchet Enhanced Death Benefit or the Max 5.5
Enhanced Death Benefit is elected, the death benefit under the
Contract is the greatest of (i) the contract value; (ii) total
premium payments reduced by a pro rata adjustment for any withdrawal;
(iii) the cash surrender value; and (iv) the enhanced death benefit
as calculated below.
The Max 5.5 Enhanced Death Benefit is the greater of (1) the 5.5%
Solution Enhanced Death Benefit or (2) the Annual Ratchet Enhanced
Death Benefit. Under this benefit option, the 5.5% Solution Enhanced
Death Benefit and the Annual Ratchet Enhanced Death Benefit are
calculated in the same manner as if each were the elected benefit.
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| HOW THE ENHANCED DEATH BENEFIT IS CALCULATED |
| 5.5% SOLUTION ANNUAL RATCHET |
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| On each business day that | On each contract anniversary |
| occurs on or before the | that occurs on or before the |
| contract owner turns 80, we | contract owner turns age 80, |
| credit interest at the 5.5% | we compare the prior enhanced |
| annual effective rate* to the | death benefit to the contract |
| enhanced death benefit from the | value and select the larger |
| preceding day (which would be | amount as the new enhanced |
| the initial premium if the | death benefit. |
| preceding day is the contract | On all other days, the |
| date), then we add additional | enhanced death benefit is the |
| premiums paid since the | amount determined below. We |
| preceding day, then we adjust | first take the enhanced death |
| for any withdrawals made | benefit from the preceding |
| (including any Market Value | day (which would be the |
| Adjustment applied to such | initial premium if the |
| withdrawals**) since the | valuation date is the |
| surrender charges preceding day. | contract date) and then we |
| At age 80 the accumulation rate | add additional premiums paid |
| used will change. | since the preceding day, then |
| There is no maximum, however, | reduce the enhanced death |
| the death benefit will be | benefit pro rata for any |
| reduced by adjustments for | contract value withdrawn. |
| withdrawals.*** | That amount becomes the new |
| | enhanced death benefit. |
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* The actual interest rate used for calculating the 5.5% Solution
Enhanced Death Benefit for the Liquid Asset and Limited Maturity
Bond investment portfolios and the Fixed Account, will be the
lesser of (1) 5.5% and (2) the interest rate, positive or
negative, providing a yield on the Guaranteed Death Benefit equal
to the net return for the current valuation period on the contract
value allocated to Special Funds. We may, with 30 days notice to
you, designate any fund as a Special Fund on existing contracts
with respect to new premiums added to such fund and also with
respect to new transfers to such funds. Thus, selecting these
investments may limit the enhanced death benefit.
**Each premium payment reduced by adjustments for any withdrawals
will continue to grow at the 5.5% annual effective rate until
maximum is reached.
*** Each withdrawal reduces the enhanced death benefit as follows:
If total withdrawals in a contract year do not exceed 5.5% of
cumulative premiums and did not exceed 5.5% of cumulative premiums
in any prior contract year, such withdrawals will reduce the
enhanced death benefit by the amount of the withdrawal (and any
associated surrender charge) including any Market Value
Adjustment. Once withdrawals in any contract year exceed 5.5% of
cumulative premiums, withdrawals will reduce the enhanced death
benefit in proportion to the reduction in contract value pro rata.
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CHARGES AND FEES
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ADMINISTRATIVE CHARGE
The administrative charge, if applicable, is $30 per contract year.
CHARGES DEDUCTED FROM THE SUBACCOUNTS
MORTALITY AND EXPENSE RISK CHARGE. The mortality and expense risk
charge is deducted each business day. The amount of the mortality
and expense risk charge depends on the death benefit you have
elected. If you have elected the Standard Death Benefit, the charge,
on an annual basis, is equal to 1.30% of the assets you have in each
subaccount. The charge is deducted on each business day at the rate
of .003585% for each day since the previous business day. If you
have elected an enhanced death benefit, the charge, on an annual
basis, is equal to 1.45% for the Annual Ratchet Enhanced Death
Benefit, 1.45% for the 5.5% Solution Enhanced Death Benefit or 1.55%
for the Max 5.5 Enhanced Death Benefit, of the assets you have in
each subaccount. The charge is deducted each business day at the
rate of .004002%, .004002%, or .004280%, respectively, for each day
since the previous business day.
This supplement should be retained with your GoldenSelect Access/R/
Prospectus.
ING VARIABLE ANNUITIES
GOLDEN AMERICAN LIFE INSURANCE COMPANY
Golden American Life Insurance Company is a stock company domiciled
in Delaware
107042 ACCESS 04/1/00
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