Supplement Dated May 1, 2000*
To the Prospectus dated May 1, 2000
of ACL Personal Portfolio Plus2
ACL Personal PortfolioSM (45066 F)
The following subsection is added to the "Making the Most of Your Contract"
section of the prospectus following the subsection entitled "Automated
dollar-cost averaging":
Tiered dollar-cost averaging program
You may elect to allocate any new purchase payments of at least $1,000 to
accounts under tier 1 or tier 2.
If your contract value** then your investment
at time of allocation is.... is allocated to.....
$10,000 - $49,999 tier 1
$50,000 or more tier 2
**Contract value includes the newly allocated purchase payments.
We will credit your purchase payments with interest at the current guaranteed
annual rate in effect for tier 1 or tier 2 on the date of your allocation. We
credit a higher rate on tier 1 and tier 2 accounts than on the one-year fixed
account. We credit a higher rate on tier 2 accounts than on tier 1 accounts. We
will change these rates for new purchase payment allocations from time to time
at our discretion. These rates will be based on competition and the amount that
we are crediting on the one-year fixed account at the time of the change. Once
the rate is set for a purchase payment, it does not change even if your contract
value changes.
These rates are credited on the balance remaining in the account and are not
credited after we transfer the value to the subaccounts.. Monthly, we transfer
amounts out of the accounts into the subaccounts you selected. You can choose
from either the six month or the twelve month program. All amounts are
transferred out within the period you chose.
If you already have money in the program, you will not be able to allocate more
money to it, unless another rate is applicable.
You may terminate participation in the program at any time. If you do so, you
will no longer receive the guaranteed annual rate on any remaining balance in
the account. You will receive the amount we currently are crediting on the
one-year fixed account.
We can modify the terms of this program or discontinue this program at any time.
Any modifications will not affect amounts already in the program.
*45066 - A (05,00)
Valid until May 1, 2001
