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VEL ACCOUNT III OF ALLMERICA FINANCIAL LIFE INSURANCE AND ANNUITY COMPANY
SUPPLEMENT DATED JULY 19, 2000 TO PROSPECTUS DATED MAY 1, 2000
* * *
The first paragraph of the attached Prospectus is amended to read it its
entirety as follows:
This Prospectus provides important information about Allmerica Estate
Optimizer, a modified payment variable life insurance contract issued
by Allmerica Financial Life Insurance and Annuity Company. The
contracts are funded through VEL Account III, a separate investment
account of the Company that is referred to as the Variable Account. The
Contracts are designed for a large single payment and limit the ability
to make additional payments. The Contract requires the Contract Owner
to make an initial payment of at least $25,000. PLEASE READ THIS
PROSPECTUS CAREFULLY BEFORE INVESTING AND KEEP IT FOR FUTURE REFERENCE.
* * *
This supplement should be retained with the Prospectus for further reference.
SUPPLEMENT DATED JULY 19, 2000
AGENCY SPVUL (OREGON)
