Separate Account Va A, et al. – ‘N-4 EL/A’ on 7/28/97 – EX-10.B

On:  Monday, 7/28/97, at 3:22pm ET   ·   Accession #:  950109-97-5075   ·   File #s:  333-26209, 811-08197, 811-09172   ·   Correction:  This Filing’s “Filed as of” Date was Corrected and “Changed as of” 9/18/97 by the SEC on 4/21/04. ®

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Pre-Effective Amendment to Registration Statement for a Separate Account (Unit Investment Trust)   —   Form N-4
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: N-4 EL/A    Pre-Effectiveamendmentno.1                           110    530K 
 2: EX-3.B      Articles of Incorporation/Organization or By-Laws      6     33K 
 3: EX-4        Instrument Defining the Rights of Security Holders    34±   121K 
 4: EX-5        Opinion re: Legality                                   8±    34K 
 5: EX-8.A      Opinion re: Tax Matters                               25     86K 
 6: EX-8.C2     Opinion re: Tax Matters                                2      9K 
 7: EX-8.D      Opinion re: Tax Matters                               24     75K 
 8: EX-8.E2     Opinion re: Tax Matters                                3     14K 
 9: EX-9        Voting Trust Agreement                                 2      9K 
10: EX-10.A     Material Contract                                      2      7K 
11: EX-10.B     Material Contract                                      2      8K 
12: EX-13       Annual or Quarterly Report to Security Holders        18     89K 

EX-10.B   —   Material Contract

EX-10.B
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EXHIBIT (10)(b) 
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OPINION AND CONSENT OF ACTUARY

EX-10.B
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PFL Life Insurance Company                                                      
July 25, 1997                                                                   
Page 2                                                                          

In the process of determining the reasonable ROI, each individual charge is also
established within the reasonable range of industry practice.  For example, in  
conjunction with the pricing process the company has analyzed publicly available
information pertaining to similar industry products, taking into consideration  
such factors as current charge levels, the existence of charge level guarantees,
guaranteed death benefits, and guaranteed annuity rates.  The methodology and   
results of the comparative surveys included in this analysis are maintained at  
the company's administrative offices.                                           

Except by coincidence, it is not expected that actual charges assessed in a     
given year would exactly offset actual expenses incurred.  Acquisition expenses 
(as well as major product and/or systems development expenses) are incurred "up 
front" and recovered, with a reasonable profit margin, through future years'    
charges.  In addition, the company cannot increase certain charges under the    
Policies in the pricing process.                                                

Therefore, in my opinion, the fees and charges deducted under the Policies, in  
the aggregate, are reasonable in relation to the services rendered, the expenses
expected to be incurred, and the risks assumed by the company.                  

I hereby consent to the use of this opinion, which is included as an Exhibit to 
the Registration Statement.                                                     

/s/ Calvin R. Birkey                                                            
-------------------------------                                                 
Calvin R. Birkey, FSA, MAAA                                                     
Managing Actuary                                                                
PFL Life Insurance Company                                                      

Dates Referenced Herein

				Referenced-On Page
This ‘N-4 EL/A’ Filing		Date		First		Last			Other Filings
Corrected on:		4/21/04							None on these Dates
Changed as of:		9/18/97
Filed on:		7/28/97
		7/25/97		2
									List all Filings