Variflex Item 24.b Exhibit (13)

Average Annual Total Return as of December 31, 2001
(With Contingent Deferred Sales Charge and Administrative Fee)

P(1 + T)ⁿ = ERV

P = a hypothetical initial payment of $1000
T = average annual total return
n = number of years
ERV = ending redeemable value of a hypothetical $1000 payment made at the beginning of the 1, 5, or 10 year periods at the end of those periods (or a fractional portion thereof)

	1 Year	5 Year	10 Year	From Inception
A-Equity w/CDSC				6/8/1984
	777.70	1101.38	2086.09	4433.10
	(0.777.70)^1	(1.10138)^1/5	(2.08609)^1/10	(4.4331)^1/17.56
	0.77770	1.01950	1.07630	1.08850
	-0.2223	0.0195	0.0763	0.0885
B-Large Cap Value w/CDSC				6/8/1984
	830.30	974.76	1511.86	4369.17
	(0.8303)^1	(0.97476)^1/5	(1.51186)^1/10	(4.36917)^1/17.56
	0.83030	0.99490	1.04220	1.08760
	-0.1697	-0.0051	0.0422	0.0876
C-Money Market w/CDSC				6/8/1984
	915.20	1001.00	1019.16	1430.55
	(0.9152)^1	(1.001)^1/5	(1.01916)^1/10	(1.43055)^1/17.56
	0.91520	1.00020	1.00190	1.02060
	-0.0848	0.0002	0.0019	0.0206
D-Global w/CDSC				6/8/1984
	770.00	1475.46	2217.60	1408.56
	(0.77)^1	(1.47546)^1/5	(2.2176)^1/10	(1.40856)^1/17.56
	0.77000	1.08090	1.08290	1.01970
	-0.2300	0.0809	0.0829	0.0197
E-Diversified Income w/CDSC				4/30/1985
	948.90	1054.14	1200.01	1947.66
	(0.9489)^1	(1.05414)^1/5	(1.20001)^1/10	(1.94766)^1/16.67
	0.94890	1.01060	1.01840	1.04080
	-0.0511	0.0106	0.0184	0.0408
G-Large Cap Growth w/CDSC				5/1/2000
	740.20	N/A	N/A	577.12
	(0.7402)^1			(0.57712)^1/1.66
	0.74020			0.71810
	-0.2598			-0.2819
H-Enhanced Index w/CDSC				5/3/1999
	763.10	N/A	N/A	737.19
	(0.7631)^1			(0.73719)^1/2.66
	0.76310			0.89170
	-0.2369			-0.1083
I-International w/CDSC				5/3/1999
	659.20	N/A	N/A	655.74
	(0.6592)^1			(0.65574)^1/2.66
	0.65920			0.85330
	-0.3408			-0.1467
J-Mid Cap Growth w/CDSC				10/1/1992
	745.80	1925.41	N/A	3343.91
	(0.7458)^1	(1.92541)^1/5		(3.34391)^1/9.25
	0.74580	1.14000		1.13940
	-0.2542	0.1400		0.1394
K-Global Strategic Income w/CDSC				6/1/1995
	938.70	987.07	N/A	1183.24
	(0.93870)^1	(0.98707)^1/5		(1.18324)^1/6.58
	0.93870	0.99740		1.02590
	-0.0613	-0.0026		0.0259
L-Capital Growth w/CDSC				5/1/2000
	747.30	N/A	N/A	588.24
	(0.7473)^1			(0.58824)^1/1.66
	0.74730			0.72640
	-0.2527			-0.2736
				.
M-Global Total Return w/CDSC				6/1/1995
	763.00	833.80	N/A	997.37
	(0.763)^1	(0.8338)^1/5		(0.99737)^1/6.58
	0.76300	0.96430		0.99960
	-0.2370	-0.0357		-0.0004
N-Managed Asset Allocation w/CDSC				6/1/1995
	834.80	1177.39	N/A	1382.88
	(0.8348)^1	(1.17739)^1/5		(1.38288)^1/6.58
	0.83480	1.03320		1.05050
	-0.1652	0.0332		0.0505
O-Equity Income w/CDSC				6/1/1995
	893.30	1355.36	N/A	1882.35
	(0.8933)^1	(1.35536)^1/5		(1.88235)^1/6.58
	0.89330	1.06270		1.10090
	-0.1067	0.0627		0.1009
P-High Yield Series w/CDSC				8/5/1996
	922.30	N/A	N/A	1054.07
	(0.9223)^1			(1.05407)^1/5.40
	0.92230			1.00980
	-0.0777			0.0098
Q-Small Cap Value w/CDSC				5/1/2000
	1097.50	N/A	N/A	1169.47
	(1.0975)^1			(1.16947)^1/1.66
	1.09750			1.09890
	0.0975			0.0989
S-Social Awareness w/CDSC				5/1/1991
	762.20	1173.98	2006.10	2070.73
	(0.7622)^1	(1.17398)^1/5	(2.0061)^1/10	(2.07073)^1/10.67
	0.76220	1.03260	1.07210	1.07060
	-0.2378	0.0326	0.0721	0.0706
T-Technology w/CDSC				5/1/2000
	662.40	N/A	N/A	386.93
	(0.6624)^1			(0.38693)^1/1.66
	0.66240			0.56440
	-0.3376			-0.4356
V-Mid Cap Value w/CDSC				5/1/1997
	987.80	N/A	N/A	2331.19
	(0.9878)^1			(2.33119)^1/4.67
	0.98780			1.19870
	-0.0122			0.1987
W-Main Street Growth & Income w/CDSC				5/1/2000
	790.50	N/A	N/A	701.37
	(0.7905)^1			(0.70137)^1/1.66
	0.79050			0.80760
	-0.2095			-0.1924
X-Small Cap Growth w/CDSC				12/31/1998
	628.30	N/A	N/A	1064.96
	(0.6283)^1			(1.06496)^1/4.21
	0.62830			1.02120
	-0.3717			0.0212
Y-Select 25 w/CDSC				5/3/1999
	791.10	N/A	N/A	788.86
	(0.7911)^1			(0.78886)^1/2.66
	0.79110			0.91470
	-0.2089			-0.0853

Average Annual Total Return as of December 31, 2001
(Without Contingent Deferred Sales Charge and Administrative Fee)

P(1 + T)ⁿ = ERV

P = a hypothetical initial payment of $1000
T = average annual total return
n = number of years
ERV = ending redeemable value of a hypothetical $1000 payment made at the beginning of the 1, 5, or 10 year periods at the end of those periods (or a fractional portion thereof)

	1 Year	5 Years	10 Years	From Inception
A-Equity w/o CDSC				6/8/1984
	875.30	1270.22	2494.12	5736.94
	(0.8753)^1	(1.27022)^1/5	(2.49412)^1/10	(5.73694)^1/17.56
	0.87530	1.04900	1.09570	1.10460
	-0.1247	0.0490	0.0957	0.1046
B-Large Cap Value w/o CDSC				6/8/1984
	932.50	1148.06	1878.90	5478.13
	(0.9325)^1	(1.14806)^1/5	(1.8789)^1/10	(5.47813)^1/17.56
	0.93250	1.02800	1.06510	1.10170
	-0.0675	0.0280	0.0651	0.1017
C-Money Market w/o CDSC				6/8/1984
	1024.80	1197.47	1371.57	2162.48
	(1.0248)^1	(1.19747)^1/5	(1.37157)^1/10	(2.16248)^1/17.56
	1.02480	1.03670	1.03210	1.04490
	0.0248	0.0367	0.0321	0.0449
D-Global w/o CDSC				6/8/1984
	867.00	1680.51	2711.63	2431.48
	(0.867)^1	(1.68051)^1/5	(2.71163)^1/10	(2.43148)^1/17.56
	0.86700	1.10940	1.10490	1.05190
	-0.1330	0.1094	0.1049	0.0519
E-Diversified Income w/o CDSC				4/30/1985
	1058.80	1252.75	1564.90	2717.27
	(1.0588)^1	(1.25275)^1/5	(1.5649)^1/10	(2.71727)^1/16.67
	1.05880	1.04610	1.04580	1.06180
	0.0588	0.0461	0.0458	0.0618
G-Large Cap Growth w/o CDSC				5/1/2000
	834.60	N/A	N/A	662.45
	(0.8346)^1			(0.66245)^1/1.66
	0.83460			0.78030
	-0.1654			-0.2197
H-Enhanced Index w/o CDSC				5/3/1999
	859.40	N/A	N/A	850.16
	(0.8594)^1			(0.85016)^1/2.66
	0.85940			0.94080
	-0.1406			-0.0592
I-International w/o CDSC				5/3/1999
	746.50	N/A	N/A	757.15
	(0.7465)^1			(0.75715)^1/2.66
	0.74650			0.90070
	-0.2535			-0.0993
J-Mid Cap Growth w/o CDSC				10/1/1992
	840.70	2142.32	N/A	3862.56
	(0.8407)^1	(2.14232)^1/5		(3.86256)^1/9.25
	0.84070	1.16460		1.15730
	-0.1593	0.1646		0.1573
K-Global Strategic Income w/o CDSC				6/1/1995
	1048.70	1183.10	N/A	1419.67
	(1.0487)^1	(1.1831)^1/5		(1.41967)^1/6.58
	1.04870	1.03420		1.05470
	0.0487	0.0342		0.0547
L-Capital Growth w/o CDSC				5/1/2000
	842.30	N/A	N/A	674.33
	(0.8423)^1			(0.67433)^1/1.66
	0.84230			0.78870
	-0.1577			-0.2113
M-Global Total Return w/o CDSC				6/1/1995
	859.40	997.50	N/A	1197.73
	(0.8594)^1	(0.9975)^1/5		(1.19773)^1/6.58
	0.85940	0.99950		1.02780
	-0.1406	-0.0005		0.0278
N-Managed Asset Allocation w/o CDSC				6/1/1995
	937.40	1363.03	N/A	1617.31
	(0.9374)^1	(1.36303)^1/5		(1.61731)^1/6.58
	0.93740	1.06390		1.07580
	-0.0626	0.0639		0.0758
O-Equity Income w/o CDSC				6/1/1995
	1000.90	1554.21	N/A	2141.58
	(1.0009)^1	(1.55421)^1/5		(2.14158)^1/6.58
	1.00090	1.09220		1.12270
	0.0009	0.0922		0.1227
P-High Yield Series w/o CDSC				8/2/1996
	1032.30	1176.26	N/A	1247.49
	(1.0323)^1	(1.17626)^1/5		(1.24749)^1/5.40
	1.03230	1.03300		1.04180
	0.0323	0.0330		0.0418
Q-Small Cap Value w/o CDSC				5/1/2000
	1207.50	N/A	N/A	1284.33
	(1.2075)^1			(1.28433)^1/1.66
	1.20750			1.16270
	0.2075			0.1627
S-Social Awareness w/o CDSC				5/1/1991
	858.50	1345.82	2411.16	2525.32
	(0.8585)^1	(1.34582)^1/5	(2.41116)^1/10	(2.52532)^1/10.67
	0.85850	1.06120	1.09200	1.09070
	-0.1415	0.0612	0.0920	0.0907
T-Technology w/o CDSC				5/1/2000
	750.00	N/A	N/A	457.82
	(0.75)^1			(0.45782)^1/1.66
	0.75000			0.62460
	-0.2500			-0.3754
V-Mid Cap Value w/o CDSC				5/1/1997
	1097.80	N/A	N/A	2558.29
	(1.0978)^1			(2.55829)^1/4.67
	1.09780			1.22280
	0.0978			0.2228
W-Main Street Growth & Income w/o CDSC				5/1/2000
	889.30	N/A	N/A	795.87
	(0.8893)^1			(0.79587)^1/1.66
	0.88930			0.87150
	-0.1107			-0.1285
X-Small Cap Growth w/o CDSC				10/15/1997
	713.00	N/A	N/A	1251.83
	(0.713)^1			(1.25183)^1/4.21
	0.71300			1.05480
	-0.2870			0.0548
Y-Select 25 w/o CDSC				5/3/1999
	889.90	N/A	N/A	905.08
	(0.8899)^1			(0.90508)^1/2.66
	0.88990			0.96320
	-0.1101			-0.0368

MONEY MARKET YIELD

Yield Calculation as of December 31, 2001

Calculation of Change in Unit Value:

( ( (	Underlying Fund Price 12-31-01	-	Underlying Fund Price 12-24-01	) ) )
(				)	= Weekly Earnings
(	Underlying Fund Price 12-24-01			)

12.19621 - 12.1934262
	= 0.000228303
12.1934262

[(1 + Weekly Earnings)^1/7 - (Daily M&E Charge + Daily Admin. Fee)]⁷ - 1 = Base Period Return

[(1 + .000228303)^1/7 - (.000033076112 + .000003762452)]⁷ - 1 = -.000029589

Current 7-Day Yield:

(Base Period Return)365/7 = Current 7-Day Yield

(-.000029589)365/7 = 0.15%

Effective Yield:

[(Base Period Return + 1)^365/7] - 1 = Effective Yield

[(-.000029589+ 1)^365/7] - 1 = 0.15%

DIVERSIFIED INCOME SERIES YIELD

Yield Calculation As Of December 31, 2001 = 5.45%

	[((	(407,546.91 - 0.00)	)	)6]
2	[((		) + 1	)  ] - 1
	[((	(3,340,805.7071)(27.17)	)	)  ]

	[((	407,546.91	)		)6	]
2	[((		)	+ 1	)	] - 1
	[((	90,769,691.06	)		)	]

2[((.004489901+ 1)⁶) - 1]

2[(1.004489901)⁶ - 1]

2[(1.0272 - 1)]

2(.0272)

= 0.0545