Exhibit: 16(5) Opinion re Legality [ING logo] AMERICAS US Legal Services Michael A. Pignatella Counsel (860) 273-0261 Fax: (860) 273-9407 PignatellaM@ING-AFS.com April 4, 2001 Securities and Exchange Commission 450 Fifth Street, N.W. Washington, DC 20549 RE: AETNA INSURANCE COMPANY OF AMERICA POST-EFFECTIVE AMENDMENT NO. 7 TO REGISTRATION STATEMENT ON FORM S-2 PROSPECTUS TITLE: AICA GUARANTEED ACCOUNT FILE NO. 333-49581 Dear Sir or Madam: The undersigned serves as Counsel to Aetna Insurance Company of America, a Florida life insurance company (the "Company"), I have represented the Company in connection with the Guaranteed Account (the "Account") available under certain variable annuity contracts and the S-2 Registration Statement relating to such Account. In connection with this opinion, I have reviewed Post-Effective Amendment No. 7 to the Registration Statement on Form S-2 relating to such Account, including the prospectus, and relevant proceedings of the Board of Directors. Based upon this review, and assuming the securities represented by the Company are issued in accordance with the provisions of the prospectus, I am of the opinion that the securities, when sold, will have been legally issued, and will constitute a legal and binding obligation of the Company. I further consent to the use of this opinion as an exhibit to Post-Effective Amendment No. 7 to the Registration Statement. Sincerely, /s/ Michael A. Pignatella Michael A. Pignatella Counsel Hartford Site ING North America Insurance Corporation 151 Farmington Avenue, TS31 Hartford, CT 06156-8975