SUPPLEMENT TO THE PROSPECTUS DATED APRIL 30, 1999
FOR THE PERSPECTIVE ADVISORS FIXED AND VARIABLE ANNUITY
The disclosure on pages 14 and 15 of the prospectus under the heading "DEATH
BENEFIT" and the sub-headings "Death of Owner Before the Income Date" and
"Guaranteed Minimum Death Benefit" has been replaced with the following:
Guaranteed Minimum Death Benefit.
o Prior to the first anniversary of the contract issue date, the guaranteed
minimum death benefit is equal to total premiums minus the sum of total
withdrawals, charges and premium taxes incurred in the first contract year.
o On each anniversary of the contract issue date prior to the date of death,
the guaranteed minimum death benefit is calculated based on your attained
age. It is calculated as follows:
Ages 0 - 70. The greater of:
a. the guaranteed minimum death benefit on the last contract
anniversary
i. adjusted for any premiums paid since the last contract
anniversary
ii. minus the sum of total withdrawals, charges and premium
taxes incurred since the last contract anniversary
accumulated at 2%
b. the current value of the contract
Ages 71 - 80. The greater of:
a. the guaranteed minimum death benefit on the last contract
anniversary
i. adjusted for any premiums paid since the last contract
anniversary
ii. minus the sum of total withdrawals, charges and premium
taxes incurred since the last contract anniversary
b. the current value of the contract
Ages 81 and older.
a. the guaranteed minimum death benefit on the last contract
anniversary
i. adjusted for any premiums paid since the last contract
anniversary
ii. minus the sum of total withdrawals, charges and premium
taxes incurred since the last contract anniversary
o After the first anniversary of the contract issue date, at any time between
anniversaries, the guaranteed minimum death benefit is equal to:
a. the guaranteed minimum death benefit on the last contract
anniversary prior to the date of death i. adjusted for any
premiums paid since the last contract anniversary ii. minus the
sum of total withdrawals, charges and premium taxes incurred
since the last contract anniversary
This Supplement is dated May 19, 1999.
