VARIABLE ANNUITY ACCOUNT B
Aetna Life Insurance and Annuity Company
Supplement Dated September 3, 1996
to Prospectus Dated May 1, 1996
This supplement describes Series C of Aetna GET Fund (GET C), an investment
option which may be available under the contract described by the prospectus to
which this supplement is attached (Contract) and a guarantee offered by the
Aetna Life Insurance and Annuity Company (Aetna) in connection with investments
in GET C.
AETNA GET FUND - Series C
GET C seeks to achieve maximum total return without compromising a minimum
targeted rate of return by participating in favorable equity market performance
during a Guaranteed Period. GET C shares will be offered for a limited time
period (Offering Period). Aetna reserves the right to reject amounts of less
than $5,000 transferred to GET C. Aetna is the investment adviser to GET C.
Aeltus Investment Management, Inc. is the sub-adviser to GET C.
THE GET FUND GUARANTEE
GET C will mature in five years (Maturity Date), which will end the Guaranteed
Period for GET C. Aetna guarantees that the value of a GET C accumulation unit
on the Maturity Date will not be less than the value of a GET C accumulation
unit at the beginning of the Guaranteed Period. If necessary, Aetna will
transfer funds from its General Account to GET C to offset any shortfall. THIS
GUARANTEE DOES NOT APPLY TO WITHDRAWALS OR TRANSFERS MADE BEFORE THE MATURITY
DATE. Such withdrawals or transfers are made at the actual accumulation unit
value on the date of the transaction.
GET C is only available as an investment option during the accumulation period.
GET C should not be selected if annuity payments or other withdrawals or
transfers from GET C are expected to begin prior to the Maturity Date.
Participants must transfer any portion of the value of their contract (Contract
Value) held in GET C to another investment option before an annuity option is
elected.
Prior to the Maturity Date, Aetna will send a notice to each contract
owner/participant with amounts in GET C advising them of the Maturity Date and
that another investment option must be elected. If no such election is made, on
the Maturity Date Aetna will transfer the portion of the Contract Value based on
GET C to another available series of GET Fund. If no GET Fund series is
available, 50% of the Contract Value from GET C will be transferred to Aetna
Variable Fund, a growth and income fund. The remaining 50% of the Contract Value
from GET C will be transferred to Aetna Income Shares, a bond fund. The
transfers would be made as of the next valuation date.
The following information supplements the Fee Table contained in the Prospectus:
AETNA GET FUND SERIES C ANNUAL EXPENSES
(As a percentage of average net assets)
<TABLE>
<CAPTION>
<S> <C> <C> <C>
INVESTMENT OTHER TOTAL FUND
ADVISORY FEE* EXPENSES** ANNUAL EXPENSES
------------- ---------- ---------------
Aetna GET Fund Series C 0.60% 0.15% 0.75%
</TABLE>
* 0.25% during the Offering Period. Thereafter, a management fee at an annual
rate of 0.60% will apply during the Guaranteed Period.
** Administrative Services includes all other expenses of GET C.
See the prospectus for GET C for a more complete description of the Fund,
including charges and expenses.
SEPARATE ACCOUNT ANNUAL EXPENSES
(As an annual percentage of average net asset value. The daily equivalent is
deducted from the GET C Subaccount of the Separate Account.)
<TABLE>
<CAPTION>
<S> <C>
Mortality and Expense Risk Charge 1.25%
GET Guarantee Charge (deducted daily during
the Guaranteed Period) 0.25%
Administrative Expense Charge. We currently do not
impose an Administrative Expense Charge. However,
we reserve the right to deduct a daily charge from
the Subaccounts equivalent on an annual basis
to not more than 0.25% 0.00%
-----
Total Separate Account Annual Expenses 1.50%
</TABLE>
HYPOTHETICAL ILLUSTRATION (Example) - Aetna GET Fund Series C
THIS EXAMPLE IS PURELY HYPOTHETICAL. IT SHOULD NOT BE CONSIDERED A
REPRESENTATION OF PAST OR FUTURE EXPENSES OR EXPECTED RETURN. ACTUAL EXPENSES
AND/OR RETURN MAY BE MORE OR LESS THAN THOSE SHOWN BELOW.
The following Examples illustrate the expenses that would have been paid
assuming a $1,000 investment in the GET C Subaccount of the Contract and a 5%
return on assets.
<TABLE>
<CAPTION>
EXAMPLE A EXAMPLE B
If you withdraw your entire Account Value at If you do not withdraw your Account Value, or
the end of the periods shown, you would pay if you annuitize at the end of the periods
the following expenses, including any shown, you would pay the following expenses
applicable deferred sales charge: or (no deferred sales charge is reflected):*
<S> <C> <C> <C> <C> <C> <C> <C>
1 Year 3 Years 5 Years 10 Years 1 Year 3 Years 5 Years 10 Years
$ 74 $ 125 $ 179 $ 261 $ 23 $ 71 $ 122 $ 261
</TABLE>
* This Example would not apply if a nonlifetime variable annuity option is
selected, and a lump-sum settlement is requested within three years after
annuity payments start since the lump-sum payment will be treated as a
withdrawal during the Accumulation Period and will be subject to any deferred
sales charge that would then apply. (Refer to Example A.)
PERFORMANCE INFORMATION
Performance information for the investment adviser with respect to its
management of funds similar to the Fund described above is contained in the
Fund's prospectus.
The following replaces the second paragraph under the section entitled "The
Company":
The Company is a wholly owned subsidiary of Aetna Retirement Holdings, Inc.,
which is in turn a wholly owned subsidiary of Aetna Retirement Services, Inc.
and an indirect wholly owned subsidiary of Aetna Inc.
Form No. X75996.5(GET) September 1996
