SELECTED BROKER AGREEMENT



         THIS AGREEMENT, dated February 14, 2001, is entered into by and

between AFSG SECURITIES CORPORATION ("Distributor"), a Pennsylvania

corporation, PEOPLES BENEFIT LIFE INSURANCE COMPANY ("Company"), an Iowa

corporation, and INTERSECURITIES, INC. ("Broker"), a Delaware corporation.

This Agreement supersedes and replaces any prior Selected Broker Agreement

among the parties hereto.





                                 WITNESSETH:



    In consideration of the mutual promises contained herein, the parties

hereto agree as follows:



A.  Definitions



    (1)  1933 ACT -- The Securities Act of 1933, as amended, and regulations

         issued pursuant thereto.



    (2)  1934 ACT -- The Securities Exchange Act of 1934, as amended, and

         regulations issued pursuant thereto.



    (3)  1940 ACT -- The Investment Company Act of 1940, as amended, and

         regulations issued pursuant thereto.



    (4)  ACCOUNTS -- Separate accounts established and maintained by Company

         pursuant to the laws of Iowa, as applicable.



    (5)  CONTRACTS -- Private Contracts and/or Public Contracts, as the case

         may be.



    (6)  FUNDS -- Open-end management investment companies registered under

         the 1940 Act, shares of which are sold to Accounts in connection with

         the sale of Contracts, as described in the appropriate Prospectus or

         Private Placement Memorandum.



    (7)  NASD -- The National Association of Securities Dealers, Inc.



    (8)  PRIVATE CONTRACTS -- Variable life insurance contracts and/or

         variable annuity contracts not subject to, or exempt from

         registration under, the 1933 Act and described in Schedule A attached

         hereto, issued by Company and for which Distributor has been

         appointed the principal underwriter pursuant to distribution

         agreements, copies of which have been furnished to Broker.



    (9)  PRIVATE PLACEMENT MEMORANDUM -- Offering memoranda, including

         amendments or supplements thereto, that describe Private Contracts.



    (10) PROSPECTUS -- Prospectuses, including amendments or supplements

         thereto, contained in a Registration Statement.



    (11) PUBLIC CONTRACTS -- Variable life insurance contracts and/or variable

         annuity contracts required to be registered under the 1933 Act and

         described in Schedule B attached hereto, issued by Company and for

         which Distributor has been appointed the principal underwriter

         pursuant to distribution agreements, copies of which have been

         furnished to Broker.



    (12) REGISTRATION STATEMENT -- Registration statements, including

         amendments thereto, relating to Contracts, Accounts and Funds,

         including financial statements and all exhibits.



    (13) SEC -- The Securities and Exchange Commission.



B.  Agreements of Distributor



    (1)  Pursuant to the authority delegated to it by Company, Distributor

         hereby authorizes Broker to solicit applications for Contracts from

         eligible persons during the term of this Agreement, provided that:



         (a) Broker has been notified by Distributor that Contracts are

             qualified for sale, or exempt from such qualification, under all

             applicable securities and insurance laws of the states or

             jurisdictions in which applications will be solicited; and



         (b) there is an effective Registration Statement relating to those

             Contracts that are Public Contracts.



                                 Page 1 of 11



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         In connection with the solicitation of applications for Contracts,

         Broker is hereby authorized to offer riders that are available with

         Contracts in accordance with instructions furnished by Distributor or

         Company.



    (2)  During the term of this Agreement, Distributor shall notify Broker of

         any action or circumstance that may prevent the lawful sale of

         Contracts in any state or jurisdiction, including the issuance by the

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