<PAGE> 1
JANUARY 2, 2001 SUPPLEMENT TO THE
TRAVELERS PORTFOLIO ARCHITECT ANNUITY
PROSPECTUS DATED MAY 1, 2000
The following sections of the prospectus are amended by adding the following
language:
1. WHAT EXPENSES WILL BE ASSESSED UNDER THE CONTRACT? (SUMMARY)
If you select the Enhanced Stepped-Up Provision ("ESP"), an additional 0.20%
annually will be deducted from amounts in the variable funding options. This
provision is not available to a customer when either the annuitant or owner is
age 76 or older on the contract date.
2. ARE THERE ANY ADDITIONAL FEATURES? (Summary)
- ENHANCED STEPPED-UP PROVISION ("ESP"). For an additional charge, the total
death benefit payable will be increased by either 40% or 25% depending on
the age of the annuitant on the Contract Date.
3. FEE TABLE
ANNUAL SEPARATE ACCOUNT CHARGES
(as a percentage of the average daily net assets of the Separate Account)
<TABLE>
<S> <C>
WITH ESP SELECTED: WITHOUT ESP SELECTED
Mortality and Expense Risk Charge..........1.25% Mortality and Expense Risk Charge..........1.25%
Administrative Expense Charge..............0.15% Administrative Expense Charge..............0.15%
ESP Charge.................................0.20% -----
----- Total Separate Account Charges........1.40%
Total Separate Account Charges........1.60%
</TABLE>
FUNDING OPTION EXPENSES:
(as a percentage of the average daily net assets of the Funding Option as of
December 31, 1999, unless otherwise noted)
The following information replaces the expenses information in the prospectus
for the funds shown:
<TABLE>
<CAPTION>
TOTAL ANNUAL
OPERATING
MANAGEMENT FEE OTHER EXPENSES EXPENSES
(AFTER EXPENSE (AFTER EXPENSE (AFTER EXPENSE
FUNDING OPTIONS REIMBURSEMENT) 12b-1 FEES REIMBURSEMENT) REIMBURSEMENT)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
DREYFUS VARIABLE INVESTMENT FUND
Capital Appreciation Portfolio........ 0.43% 0.35% 0.78% (3)
</TABLE>
<PAGE> 2
EXAMPLE: WITH ESP SELECTED
Assuming a 5% annual return on assets, a $1,000 investment would be subject to
the following expenses:
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
IF CONTRACT IS SURRENDERED AT THE IF CONTRACT IS NOT SURRENDERED OR
END OF PERIOD SHOWN: ANNUITIZED AT END OF PERIOD SHOWN:
------------------------------------------------------------------------------------------
FUNDING OPTIONS 1 YEAR 3 YEARS 5 YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Capital Appreciation Fund............... 85 126 170 278 25 76 130 278
Money Market Portfolio.................. 80 113 149 235 20 63 109 235
ALLIANCE VARIABLE PRODUCT SERIES FUND
INC.
Premier Growth Portfolio - Class R... 89 140 193 323 29 90 153 323
DELAWARE GROUP PREMIUM FUND
REIT Series.......................... 85 127 171 280 25 77 131 280
DREYFUS VARIABLE INVESTMENT FUND
Capital Appreciation Portfolio....... 84 125 168 273 21 75 128 273
Small Cap Portfolio.................. 84 125 168 273 24 75 128 273
GREENWICH STREET SERIES FUND
Equity Index Portfolio - Class II
Shares............................... 82 117 154 246 22 67 114 246
JANUS ASPEN SERIES
Balanced Portfolio - Service Shares.. 86 129 175 287 26 79 135 287
Global Life Sciences Portfolio....... 87 134 183 304 27 84 143 304
Service Shares..........................
Global Technology Portfolio.......... 87 132 180 298 27 82 140 298
Service Shares..........................
Worldwide Growth Portfolio - Service 86 130 176 290 26 80 136 290
Shares..................................
SALOMON BROTHERS VARIABLE SERIES FUNDS
INC.
Capital Fund......................... 86 131 179 295 26 81 139 295
Investor Fund........................ 86 131 178 293 26 81 138 293
Small Cap Growth Fund................ 91 146 203 342 31 96 163 342
TRAVELERS SERIES FUND INC.
Alliance Growth Portfolio............ 85 126 170 277 25 76 130 277
MFS Total Return Portfolio........... 85 127 171 279 25 77 131 279
Putnam Diversified Income Portfolio.. 85 126 170 278 25 76 130 278
THE TRAVELERS SERIES TRUST
Convertible Bond Portfolio........... 84 125 169 275 24 75 129 275
Disciplined Mid Cap Stock Portfolio.. 86 130 176 290 26 80 136 290
Disciplined Small Cap Stock
Portfolio............................ 86 131 179 295 26 81 139 295
Equity Income Portfolio.............. 85 128 173 283 25 78 133 283
Federated High Yield Portfolio....... 85 127 171 279 25 77 131 279
Federated Stock Portfolio............ 85 126 170 277 25 76 130 277
Large Cap Portfolio.................. 85 127 172 282 25 77 132 282
Lazard International Stock
Portfolio............................ 87 133 182 301 27 83 142 301
MFS Emerging Growth Portfolio........ 85 127 172 282 25 77 132 282
MFS Mid Cap Growth Portfolio......... 86 131 179 295 26 81 139 295
MFS Research Portfolio............... 86 131 178 294 26 81 138 294
Strategic Stock Portfolio............ 85 128 174 285 25 78 134 285
Travelers Quality Bond Portfolio..... 82 117 156 249 22 67 116 249
VARIABLE INSURANCE PRODUCTS FUND II
Contrafund(R) Portfolio - Service
Class 2.............................. 85 128 174 285 25 78 134 285
WARBURG PINCUS TRUST
Emerging Markets Portfolio........... 90 143 198 333 30 93 158 333
</TABLE>
* THE EXAMPLE SHOULD NOT BE CONSIDERED A REPRESENTATION OF PAST OR FUTURE
EXPENSES. ACTUAL EXPENSES MAY BE GREATER OR LESS THAN THOSE SHOWN. THE EXAMPLE
REFLECTS THE $30 ANNUAL CONTRACT ADMINISTRATIVE CHARGE AS AN ANNUAL CHARGE OF
0.015% OF ASSETS.
<PAGE> 3
4. CHARGES AND DEDUCTIONS
ESP CHARGE
If the ESP option is selected, a charge of is deducted each business day from
amounts held in the variable funding options. The charge equals, on an annual
basis, 0.20% of the amounts held in each funding option.
5. DEATH BENEFIT
The DEATH PROCEEDS BEFORE THE MATURITY DATE section of the prospectus is amended
by adding the following language to the end of that section:
ENHANCED STEPPED-UP PROVISION ("ESP")
If you have selected the ESP, the total death benefit payable as of the death
report date will equal the death benefit described above plus:
If the Annuitant is younger than age 70 on the Contract Date:
40% of the lesser of the Modified Purchase Payments, or Your contract
value minus the Modified Purchase Payments, calculated as of the Death
Report Date; or
If the Annuitant is between the ages of 70 and 75 on the Contract
Date:
25% of the lesser of the Modified Purchase Payments, or Your contract
value minus the Modified Purchase Payments, calculated as of the Death
Report Date.
Modified Purchase Payments
Modified Purchase Payments are equal to the total Purchase Payments
less the total amount of any partial surrenders made under this
contract.
<PAGE> 4
JANUARY 2, 2001 SUPPLEMENT TO THE
TRAVELERS PREMIER ADVISERS ANNUITY
PROSPECTUS DATED MAY 1, 2000
AND SUPPLEMENTED DECEMBER 1, 2000
The following sections of the prospectus are amended by adding the following
language:
1. WHAT EXPENSES WILL BE ASSESSED UNDER THE CONTRACT? (Summary)
If you select the Enhanced Stepped-Up Provision ("ESP"), an additional 0.20%
annually will be deducted from amounts in the variable funding options. THIS
PROVISION IS NOT AVAILABLE TO A CUSTOMER WHEN EITHER THE ANNUITANT OR OWNER IS
AGE 76 OR OLDER ON THE CONTRACT DATE.
2. ARE THERE ANY ADDITIONAL FEATURES? (Summary)
- ENHANCED STEPPED-UP PROVISION ("ESP"). For an additional charge, the total
death benefit payable will be increased by either 40% or 25%, depending on
the age of the annuitant on the Contract Date.
3. FEE TABLE
ANNUAL SEPARATE ACCOUNT CHARGES
(as a percentage of the average daily net assets of the Separate Account)
<TABLE>
<S> <C> <C> <C>
WITH ESP SELECTED: WITHOUT ESP SELECTED
Mortality and Expense Risk Charge.............1.25% Mortality and Expense Risk Charge..........1.25%
Administrative Expense Charge.................0.15% Administrative Expense Charge..............0.15%
ESP Charge....................................0.20% -----
----- Total Separate Account Charges....... 1.40%
Total Separate Account Charges...........1.60%
</TABLE>
EXAMPLE*: WITH ESP ELECTED
Assuming a 5% annual return on assets, a $1,000 investment would be subject to
the following expenses:
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
If Contract is surrendered at the If Contract is NOT Surrendered or
end of period shown: Annuitized at end of period shown:
-------------------------------------- ---------------------------------------
FUNDING OPTION 1 YEAR 3 YEARS 5 YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS
---------------------------------------- -------- --------- -------- ---------- -------- --------- --------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
JANUS ASPEN SERIES
Balanced Portfolio - Service Shares 86 129 175 287 26 79 135 287
Capital Appreciation
Portfolio-Service Shares 86 129 175 287 26 79 135 287
Strategic Value Portfolio - Service
Shares 89 139 191 319 29 89 151 319
Worldwide Growth Portfolio -
Service Shares 86 130 176 290 26 80 136 290
SALOMON BROTHERS VARIABLE SERIES FUND
INC. 85 127 171 280 25 77 131 280
Capital Fund 86 131 179 294 26 81 139 294
High Yield Bond Fund........ 86 131 179 294 26 81 139 294
Investors Fund.............. 86 131 178 292 26 81 138 292
Small Cap Growth Fund....... 91 146 203 342 31 96 163 342
Strategic Bond Fund......... 86 131 179 294 26 81 139 294
THE TRAVELER SERIES TRUST 85 125 169 275 24 75 129 275
Equity Income Portfolio 85 128 173 283 25 78 133 283
Large Cap Portfolio 85 127 172 282 25 77 132 282
</TABLE>
<PAGE> 5
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
THE UNIVERSAL INSTITUTIONAL FUNDS, INC.
Active International Allocation
Portfolio 88 136 186 309 28 86 146 309
Emerging Markets Equity Portfolio 94 154 217 368 34 104 177 368
Equity Growth Portfolio 85 127 171 280 25 77 131 280
Global Equity Portfolio 88 136 186 309 28 86 146 309
Mid Cap Growth Portfolio 87 133 181 299 27 83 141 299
Mid Cap Value Portfolio 87 133 181 299 27 83 141 299
Technology Portfolio 88 136 186 309 28 86 146 309
U.S. Real Estate Portfolio 88 136 186 309 28 86 146 309
VAN KAMPEN LIFE INVESTMENT TRUST
Comstock Portfolio............. 91 145 201 337 31 95 161 337
Domestic Income Portfolio...... 88 134 184 305 28 84 144 305
Emerging Growth Portfolio...... 90 142 196 328 30 92 156 328
Enterprise Portfolio........... 82 119 158 254 22 69 118 254
Government Portfolio........... 82 119 158 254 22 69 118 254
Growth and Income Portfolio.... 84 124 166 270 24 74 126 270
Money Market Portfolio......... 88 135 184 306 28 85 144 306
VARIABLE INSURANCE PRODUCTS III
(FIDELITY)
Mid Cap Portfolio - Class II 89 139 191 319 29 89 151 319
</TABLE>
*THE EXAMPLE SHOULD NOT BE CONSIDERED A REPRESENTATION OF PAST OR FUTURE
EXPENSES. ACTUAL EXPENSES MAY BE GREATER OR LESS THAN THOSE SHOWN. THE EXAMPLE
REFLECTS THE ANNUAL CONTRACT ADMINISTRATIVE CHARGE AS AN ANNUAL CHARGE OF 0.01%
OF ASSETS.
4. CHARGES AND DEDUCTIONS
ESP CHARGE
If the ESP option is selected, a charge of is deducted each business day from
amounts held in the variable funding options. The charge equals, on an annual
basis, 0.20% of the amounts held in each funding option.
5. DEATH BENEFIT
The DEATH PROCEEDS BEFORE THE MATURITY DATE section of the prospectus is amended
by adding the following language to the end of that section:
ENHANCED STEPPED-UP PROVISION ("ESP")
If you have selected ESP, the total death benefit payable as of the death report
date will equal the death benefit described above plus:
If the Annuitant is younger than age 70 on the Contract Date:
40% of the lesser of the Modified Purchase Payments, or Your contract value
minus the Modified Purchase Payments, calculated as of the Death Report
Date; or
If the Annuitant is between the ages of 70 and 75 on the Contract Date:
25% of the lesser of the Modified Purchase Payments, or Your contract value
minus the Modified Purchase Payments, calculated as of the Death Report
Date.
Modified Purchase Payments
Modified Purchase Payments are equal to the total Purchase Payments less
the total amount of any partial surrenders made under this contract.
L-12922 January 2, 2001
<PAGE> 6
JANUARY 2, 2001 SUPPLEMENT TO THE
TRAVELERS PORTFOLIO ARCHITECT SELECT ANNUITY
PROSPECTUS DATED MAY 1, 2000
The following sections of the prospectus are amended by adding the following
language:
1. WHAT EXPENSES WILL BE ASSESSED UNDER THE CONTRACT? (Summary)
If you select the Enhanced Stepped-Up Provision ("ESP"), an additional 0.20%
annually will be deducted from amounts in the variable funding options. THIS
PROVISION IS NOT AVAILABLE TO A CUSTOMER WHEN EITHER THE ANNUITANT OR OWNER IS
AGE 76 OR OLDER ON THE CONTRACT DATE.
2. ARE THERE ANY ADDITIONAL FEATURES?
- ENHANCED STEPPED-UP PROVISION ("ESP"). For an additional charge, the total
death benefit payable will be increased by either 40% or 25%, depending on
the age of the annuitant on the Contract Date.
3. FEE TABLE
ANNUAL SEPARATE ACCOUNT CHARGES
(as a percentage of the average daily net assets of the Separate Account)
<TABLE>
<S> <C> <C> <C>
WITH ESP SELECTED: WITHOUT ESP SELECTED
Mortality and Expense Risk Charge.............1.25% Mortality and Expense Risk Charge..........1.25%
Administrative Expense Charge.................0.15% Administrative Expense Charge..............0.15%
ESP Charge....................................0.20% -----
----- Total Separate Account Charges....... 1.40%
Total Separate Account Charges...........1.60%
</TABLE>
EXAMPLE: WITH ESP SELECTED
Assuming a 5% annual return on assets, a $1,000 investment would be subject to
the following expenses:
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
If Contract is surrendered at the If Contract is NOT Surrendered or
end of period shown: annuitized at end of period shown:
--------------------------------------- --------------------------------------
FUNDING OPTION 1 YEAR 3 YEARS 5YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS
--------------------------------------- -------- --------- --------- ---------- ------- --------- --------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Capital Appreciation Fund............. 85 126 170 278 25 76 130 278
Money Market Portfolio................ 80 113 149 235 20 63 109 235
AIM VARIABLE INSURANCE FUNDS, INC.
AIM V.I. Value Fund 84 124 167 271 24 74 127 271
ALLIANCE VARIABLE PRODUCT SERIES FUND.
Premier Growth Portfolio - Class B. 89 140 193 323 29 90 153 323
DELAWARE GROUP PREMIUM FUND
REIT Series........................ 85 127 171 280 25 77 131 280
DREYFUS VARIABLE INVESTMENT FUND
Appreciation Portfolio............. 84 125 168 273 24 75 128 273
Small Cap Portfolio................ 84 125 168 273 24 75 128 273
GREENWICH STREET SERIES FUND
Appreciation Portfolio............. 84 125 168 274 24 75 128 274
Diversified Strategic Income
Portfolio.......................... 84 125 168 273 24 75 128 273
Equity Index Portfolio - Class II
Shares............................. 82 117 154 246 22 67 114 246
</TABLE>
<PAGE> 7
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Total Return Portfolio............. 84 125 168 274 24 75 128 274
JANUS ASPEN SERIES
Balanced Portfolio - Service Shares 86 129 175 287 26 79 135 287
Global Life Sciences Portfolio -
Service Shares........................ 87 134 183 304 27 84 143 304
Global Technology Portfolio -
Service Shares........................ 87 132 180 298 27 82 140 298
Worldwide Growth Portfolio -
Service Shares........................ 86 130 176 290 26 80 136 290
SALOMON BROTHERS VARIABLE SERIES FUND
INC.
Investors Fund..................... 86 131 178 293 26 81 138 293
TRAVELERS SERIES FUND INC.
AIM Capital Appreciation Portfolio 85 127 171 279 25 77 131 279
Alliance Growth Portfolio.......... 85 126 170 277 25 76 130 277
MFS Total Return Portfolio......... 85 127 171 279 25 77 131 279
THE TRAVELERS SERIES TRUST
Convertible Bond Portfolio........ 84 125 169 275 24 75 129 275
Disciplined Mid Cap Stock
Portfolio............................. 86 130 176 290 26 80 136 290
Disciplined Small Cap Stock
Portfolio............................. 86 131 179 295 26 81 139 295
Equity Income Portfolio............ 85 128 173 283 25 78 133 283
Federated High Yield Portfolio..... 85 127 171 279 25 77 131 279
Federated Stock Portfolio.......... 85 126 170 277 25 76 130 277
Large Cap Portfolio................ 85 127 172 282 25 77 132 282
Lazard International Stock
Portfolio............................. 87 133 182 301 27 83 142 301
MFS Emerging Growth Portfolio...... 85 127 172 282 25 77 132 282
MFS Mid Cap Growth Portfolio....... 86 131 179 295 26 81 139 295
Travelers Quality Bond Portfolio... 82 117 156 249 22 67 116 249
VARIABLE INSURANCE PRODUCTS FUND II
Contrafund(R) Portfolio - Service
Class 2............................... 85 128 174 285 25 78 134 285
WARBURG PINCUS TRUST
Emerging Markets Portfolio......... 90 143 198 333 30 93 158 333
</TABLE>
* THE EXAMPLE SHOULD NOT BE CONSIDERED A REPRESENTATION OF PAST OR FUTURE
EXPENSES. ACTUAL EXPENSES MAY BE GREATER OR LESS THAN THOSE SHOWN. THE EXAMPLE
REFLECTS THE $30 ANNUAL CONTRACT ADMINISTRATIVE CHARGE AS AN ANNUAL CHARGE OF
0.015% OF ASSETS.
4. CHARGES AND DEDUCTIONS
ESP CHARGE
If the ESP option is selected, a charge of is deducted each business day from
amounts held in the variable funding options. The charge equals, on an annual
basis, 0.20% of the amounts held in each funding option.
5. DEATH BENEFIT
The DEATH PROCEEDS BEFORE THE MATURITY DATE section of the prospectus is amended
by adding the following language to the end of that section:
ENHANCED STEPPED-UP PROVISION ("ESP")
If you have selected the ESP, the total death benefit payable as of the death
report date will equal the death benefit described above plus:
If the Annuitant is younger than age 70 on the Contract Date:
40% of the lesser of the Modified Purchase Payments, or Your contract value
minus the Modified Purchase Payments, calculated as of the Death Report
Date; or
If the Annuitant is between the ages of 70 and 75 on the Contract Date:
<PAGE> 8
25% of the lesser of the Modified Purchase Payments, or Your contract value
minus the Modified Purchase Payments, calculated as of the Death Report
Date.
Modified Purchase Payments
Modified Purchase Payments are equal to the total Purchase Payments less
the total amount of any partial surrenders made under this contract.
L-12924 January 2, 2001
