EXHIBIT 10(g)
GOLDEN AMERICAN LIFE INSURANCE COMPANY
                            SURPLUS NOTE

Golden American Life Insurance Company agrees to pay Equitable of
Iowa Companies, an Iowa corporation, the sum of $25 million
($25,000,000.00) plus interest at the rate of 8.25%  per annum from
the date hereof, December 17, 1996 until paid.  In any event, this
note will mature on December 17, 2026.

This Surplus Note and accrued interest thereon shall be subordinate
to payments due to policyholders, claimant and beneficiary claims, as
well as debts owed to all other classes of debtors of Golden American
Life Insurance Company in the event of (a) the institution of
bankruptcy, reorganization, insolvency or liquidation proceedings by
or against Golden American Life Insurance Company, or (b) the
appointment of a Trustee, receiver or other Conservator for a
substantial part of Golden American Life Insurance Company
properties.

Any payments made shall first apply to accrued interest, and the
balance of such payment shall apply to reduce the principal of this
Note.

Any payment of principal and/or interest made shall be subject to the
prior approval of the Delaware Insurance Commissioner.  If the
Commissioner has not approved payment of principal to retire the note
prior to its maturity date, the maturity date will be automatically
extended until such time as the Commissioner authorizes payment of
the final balance of principal.

Golden American Life Insurance Company hereby waives presentment and
notice of dishonor.

In witness whereof, Golden American Life Insurance Company has caused
this Note to be executed and delivered.


                                GOLDEN AMERICAN LIFE INSURANCE COMPANY

                                By:  /s/ Terry L. Kendall
                                     ---------------------------------
                                     Terry L. Kendall, President and CEO


Attest by:


/s/ Myles R. Tashman
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Myles R. Tashman
Executive Vice President and
General Counsel