Abstract: We study the lepton forward-backward asymmetry AFB and the longitudinal K* polarization F-L, as well as an observable P-2 derived from them, in the rare decays B -> K*l(+)l(-), where l(+)l(-) is either e(+)e(-) or mu(+)mu(-), using the full sample of 471 million B (B) over bar events collected at the Upsilon(4S) resonance with the BABAR, detector at the PEP-II e(+)e(-) collider. We separately fit and report results for the K*(0)(892)l(+)l(-) and K*(+)(892) l(+)l(-) final states, as well as their combination K*l(+)l(-), in five disjoint dilepton mass-squared bins. An angular analysis of B+ -> K*(+)l(+)l(-) decays is presented here for the first time.