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VEL ACCOUNT III
OF
ALLMERICA FINANCIAL LIFE INSURANCE AND ANNUITY COMPANY
SUPPLEMENT DATED SEPTEMBER 1, 2000 TO PROSPECTUSES DATED MAY 1, 2000
* * *
The second paragraph under DISTRIBUTION is amended to read in its entirety as
follows:
The Company pays commissions not to exceed 8% of the payment to broker-dealers
which sell the Contracts. Alternative commission schedules are available with
lower initial commission amounts, plus ongoing annual compensation of up to
1.00% of Contract Value. To the extent permitted by NASD rules, promotional
incentives or payments may also be provided to broker-dealers based on sales
volumes, the assumption of wholesaling functions, or other sales-related
criteria. Other payments may be made for other services that do not directly
involve the sale of the Contracts. These services may include the recruitment
and training of personnel, production of promotional literature, and similar
services.
* * *
SUPPLEMENT DATED SEPTEMBER 1, 2000
ALLMERICA ESTATE OPTIMIZER
