Champion IIB
Registration No. 333-95959 January 18, 2001
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Post-Effective Amendment No. 2
to
FORM S-6
FOR REGISTRATION UNDER THE SECURITIES ACT OF 1933
OF SECURITIES OF UNIT INVESTMENT TRUSTS
REGISTERED ON FORM N-8B-2
A. Exact name of trust:
American Skandia Life Assurance Corporation Separate Account F
B. Name of depositor:
American Skandia Life Assurance Corporation
C. Complete address of depositor's principal executive offices:
One Corporate Drive, Shelton, CT 06484
D. Name and complete address of agent for service:
Scott K. Richardson, Esq.
American Skandia Life Assurance Corporation
One Corporate Drive
Shelton, CT 06484
It is proposed that this filing will become effective (check appropriate box)
[ ] immediately upon filing pursuant to paragraph (b)
[X] on January 22, 2001 pursuant to paragraph (b)
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[ ] 60 days after filing pursuant to paragraph (a)(1)
[ ] on pursuant to paragraph (a)(1) of rule (485)
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[ ] this post-effective amendment designates a new effective date for a previously filed
post-effective amendment
E. Title and amount of securities being registered:
Flexible Premium Variable Life Insurance.
The Registrant elects to register an indefinite number of securities by this registration statement in
accordance with Rule 24f-2 under the Investment Company Act of 1940.
F. Proposed maximum aggregate offering price to the public of the securities being registered:
G. Amount of filing fee:
None
H. Approximate date of proposed public offering
As soon as practicable after the effective date of this Registration Statement.
[ ] Check box if it is proposed that this filing will become effective on ______________ at ____________
pursuant to Rule 487.
NOTE
Registrant is filing this Post-Effective Amendment to Registration Statement No. 333-95959 for the purpose of including in the
Registration Statement a Prospectus Supplement which adds new variable sub-accounts to the variable life policy described in the
registration statement and amends certain other disclosure in the registration statement. Other than as set forth herein, the
Post-Effective Amendment does not amend or delete any other part of this Registration Statement.
Horizon
ASTr/FPVLI/FOCUS/HORIZON-SUPP. (01/22/2001) VLI
VLISUP012201
Supplement to Prospectus Dated May 1, 2000
Supplement dated January 22, 2001
This Supplement should be retained with the current Prospectus for your variable life policy issued by American Skandia Life
Assurance Corporation ("American Skandia"). If you do not have a current prospectus, please contact American Skandia at
1-800-SKANDIA.
I. ADDITIONAL VARIABLE INVESTMENT OPTIONS
The underlying Portfolios shown below are being offered as Sub-accounts under your Policy.
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Underlying Mutual Fund Portfolio Annual Expenses
(as a percentage of the average net assets of the underlying Portfolios)
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Management Other 12b-1 Fees Total Annual Fee Net
Fees Expenses Portfolio Waivers Annual
UNDERLYING PORTFOLIO Operating and Fund
Expenses Expense Operating
Reimburse-mentExpenses
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ProFund VP:
Europe 30 0.75% 1.39% 0.25% 2.39% 0.61% 1.78%
UltraSmall-Cap 0.75% 1.53% 0.25% 2.53% 0.83% 1.70%
UltraOTC 0.75% 0.97% 0.25% 1.97% 0.32% 1.65%
OTC 0.75% 0.95% 0.25% 1.95% N/A 1.95%
Bear 0.75% 0.95% 0.25% 1.95% N/A 1.95%
Bull Plus 0.75% 0.95% 0.25% 1.95% N/A 1.95%
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The following is being added to the section entitled "Variable Investment Options?"
VARIABLE INVESTMENT OPTIONS
WHAT ARE THE INVESTMENT OBJECTIVES AND POLICIES OF THE PORTFOLIOS?
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PORTFOLIO
STYLE/ INVESTMENT OBJECTIVES/POLICIES ADVISOR/
TYPE SUB-ADVISOR
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Investments in securities of foreign issuers may involve risks that are not present with domestic investments. Some of these risks may be
fluctuations in currency exchange rates, less liquid and more volatile securities markets, unstable political and economic structures,
reduced availability of public information and lack of uniform financial reporting and regulatory practices compared to those that apply
to U.S. issuers.
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ProFund VP Europe 30: seeks daily investment results that correspond to the performance of
the ProFunds Europe Index. The ProFunds Europe Index ("PEI") is a combined measure of
INTER-NATIONAL European stock performance created by the investment advisor from the leading stock indexes of
EQUITY Europe's three largest economies giving equal weight to each index each day. The PEI averages
the daily results of The Financial Times Stock Exchange 100, The Deutsche Aktienindex and the
CAC-40. The Portfolio principally invests in futures contracts on stock indexes and options ProFund Advisors LLC
on futures contracts and financial instruments such as equity caps, collars, floors and
options on securities and stock indexes of large capitalization, widely traded, European
stocks. The Portfolio invests in financial instruments with values that reflect the
performance of stocks of European companies.
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PORTFOLIO
STYLE/ INVESTMENT OBJECTIVES/POLICIES ADVISOR/
TYPE SUB-ADVISOR
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The ProFund VP UltraOTC, UltraSmall-Cap, OTC, Bear and Bull Plus portfolios are available to all Owners. It is recommended that only those
Owners who engage a financial advisor to allocate their funds in strategic or tactical asset allocation strategies invest in these
portfolios. There can be no assurance that any financial advisor will successfully predict market fluctuations.
The Portfolios principally invest in futures contracts on the applicable index, options on futures contracts and financial instruments
such as equity caps, collars and floors, swaps, American Depository Receipts and options on the index. The Portfolios may also invest in
stocks that the Advisor believes should simulate the movement of the applicable index..
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ProFund VP UltraOTC: seeks daily investment results that correspond to twice (200%) the
performance of the NASDAQ 100 Index(TM). The Portfolio principally invests in futures contracts
on stock indexes and options on futures contracts and financial instruments such as equity
caps, collars, floors and options on securities and stock indexes of large capitalization ProFund Advisors LLC
companies. If the Portfolio is successful in meeting its objective, it should gain
approximately twice as much as the growth oriented NASDAQ 100 Index(TM)when the prices of the
securities in that index rise on a given day and should lose approximately twice as much when
such prices decline on that day.
STRATEGIC OR
TACTICAL
ALLOCA-TION
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ProFund VP UltraSmall-Cap (f/k/a ProFund VP Small Cap): seeks daily investment results that
correspond to twice (200%) the performance of the Russell 2000(R)Index. The Portfolio
principally invests in futures contracts on stock indexes and options on futures contracts and ProFund Advisors LLC
financial instruments such as equity caps, collars, floors and options on securities and stock
indexes of diverse, widely traded, small capitalization companies. If the Portfolio is
successful in meeting its objective, it should gain approximately twice as much as the growth
oriented Russell 2000(R)Index when the prices of the securities in that index rise on a given
day and should lose approximately twice as much when such prices decline on that day.
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ProFund VP OTC: seeks daily investment results that correspond to the performance of the
NASDAQ 100 Index(TM). The NASDAQ 100 Index(TM)is comprised primarily of large capitalization ProFund Advisors LLC
companies, most with a technology or growth orientation. If the Portfolio is successful in
meeting its objective, it should increase or decrease in value in direct proportion to any
increase or decrease in value of the NASDAQ 100 Index(TM).
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ProFund VP Bear: seeks daily investment results that correspond to the inverse (opposite) of
the performance of the S&P 500(R)Index. The S&P 500(R)Index is comprised of diverse, widely
traded, large capitalization companies. If the Portfolio is successful in meeting its
objective, it should increase in value in direct proportion to any decrease in the level of ProFund Advisors LLC
the S&P 500(R)Index. Conversely, its value will decrease in direct proportion to any increase
in the level of the S&P 500(R)Index.
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ProFund VP Bull Plus: seeks daily investment results that correspond to one and a half times
(150%) the performance of the S&P(R)500 Index. The S&P 500(R)Index is comprised of diverse,
widely traded, large capitalization companies. If the Portfolio is successful in meeting its
objective, it should gain approximately one and a half times as much as the S&P 500(R)Index ProFund Advisors LLC
when the prices of the securities in the S&P 500(R)Index rise on a given day and should lose
approximately one and a half times as much when such prices decline on a given day.
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Dow Jones has no relationship to the ProFunds VP, other than the licensing of the Dow Jones sector indices and its service marks
for use in connection with the ProFunds VP. The ProFunds VP are not sponsored, endorsed, sold, or promoted by Standard & Poor's
or NASDAQ, and neither Standard & Poor's nor NASDAQ makes any representations regarding the advisability of investing in the
ProFunds VP.
II. RYDEX VARIABLE TRUST SUB-ACCOUNT CLOSING
Effective March 16, 2001, the Nova, Ursa and OTC portfolios of Rydex Variable Trust will no longer be offered as Sub-accounts
under the Policy. Owners of Variable Life policies issued on or after March 16, 2001 will not be allowed to allocate Account
Value to the Rydex Nova, Rydex Ursa or Rydex OTC Sub-accounts. Except as noted below, Owners of Variable Life policies issued
before March 16, 2001, and/or their authorized financial professionals, will no longer be able to allocate additional Account
Value or make transfers into the Rydex Nova, Rydex Ursa or Rydex OTC Sub-accounts. Contract Owners and/or their authorized
financial professionals who elect to transfer Account Value out of the Rydex Sub-accounts on or after March 16, 2001 will not be
allowed to transfer Account Value into the Rydex Sub-accounts at a later date. Bank drafting, dollar cost averaging, asset
allocation and rebalancing programs that were effective on or before March 16, 2001 and included one or more of the Rydex
Sub-accounts will be allowed to continue. However, no changes involving the Rydex Sub-accounts may be made to such programs.
American Skandia intends to file an application with the Securities and Exchange Commission to substitute the Rydex Nova, Rydex
Ursa and Rydex OTC Sub-accounts with corresponding portfolios of ProFunds VP. The proposed substitution will not affect your
rights or our obligations under the Policy. Those Policy Owners effected by the proposed substitution will receive additional
information from American Skandia notifying them of their rights under the SEC Exemptive Order once received.
Champion IIB
PART II - OTHER INFORMATION
CONTENTS OF REGISTRATION STATEMENT
This registration statement comprises the following papers and documents:
The facing sheet.
The prospectus consisting of __ pages.
Representations and Undertakings.
The signatures.
Written consents of the following persons:
Legal Counsel Consent filed via EDGAR to this Registration Statement No. 333-95959, Pre-Effective
Amendment No. 1, filed April 27, 2000.
Ernst&Young LLP FILED HEREWITH
Corporate Actuary Consent filed via EDGAR to this Registration Statement No. 333-95959 Pre-Effective No.
1, filed April 27, 2000.
The following exhibits which correspond to those required by paragraph A of the instructions for
exhibits to Form N-8B-2:
1. A. (1) Resolution of the Board of Directors of the Company are incorporated
by reference to Registration Statement No. 333-38119 filed via EDGAR October
17, 1997.
(2) Not applicable.
(3) Distributing contracts:
(a) Principal Underwriting Agreement incorporated by reference
to Registration Statement No. 333-38119 filed via EDGAR October 17,
1997.
(b) Form of Revised Dealer Agreement being filed via EDGAR
with Post-Effective Amendment No. 7 to Registration
Statement No. 33-87010 on April 24, 1998.
(c) Not applicable.
(4) Not applicable.
(5) Form of Flexible Premium Variable Life Insurance Policy
(a) Single Life Version filed via EDGAR with Initial Registration Statement No.
333-95959, filed February 2, 2000.
(b) Last Survivor Version filed via EDGAR with Initial Registration Statement No.
333-95959, filed February 2, 2000.
(c) Endorsement-Accelerated Death Benefit filed via EDGAR with Initial
Registration Statement No. 333-95959, filed February 2, 2000.
(d) Endorsement-Guaranteed Continuation Provision filed via EDGAR with Initial
Registration Statement No. 333-95959, filed February 2, 2000.
(e) Endorsement-Medically-Related Waiver filed via EDGAR with Initial Registration
Statement No. 333-95959, filed February 2, 2000.
(6) Articles of Incorporation and By-laws of American Skandia Life Assurance
Corporation, incorporated by reference to Post-Effective Amendment No. 6 to
Registration Statement No. 33-87010, filed VIA EDGAR on March 2, 1998.
(7) Not applicable.
(8) Not applicable.
(9) Other material contracts. Not applicable
(10) Form of Application for Flexible Premium Variable Life Insurance Policy.
(11) Memorandum describing transfer and redemption procedures filed via EDGAR with Initial
Registration Statement No. 333-95959, filed on February 2, 2000.
(12) Hypothetical Illustrations of Death Benefits, Account Values and Cash Values.
Filed via EDGAR to Registration Statement No. 333-95959 filed via EDGAR April
27, 2000.
2. Opinion and Consent of Counsel filed via EDGAR to this Registration Statement No. 333-95959,
Pre-Effective Amendment No. 1, filed April 27, 2000.
3. No financial statements are to be omitted from the prospectus pursuant to instruction 1(b) or
1(c) of the instructions as to the prospectus.
4. Not applicable.
5. Financial Data Schedules.
6. Not applicable.
7. Opinion and Consent of certifying actuary. Filed via EDGAR to this Registration Statement No.
333-95959 Pre-Effective No. 1, filed April 27, 2000.
8. Opinion and Consent of Ernst&Young LLP FILED HEREWITH
9. a) Powers of Attorney are incorporated by reference to Registration Statement No.
333-38119 filed via EDGAR October 17, 1997.
b) Directors Kennedy and Winson filed via EDGAR with Post-
Effective Amendment No. 4 to Registration Statement No. 333-25733.
c) Powers of attorney for Directors Abram, Chan, Ian Kennedy, Thwaites
and Ullman filed via EDGAR with Post-Effective Amendment No. 11 to
Registration Statement No. 33-87010.
UNDERTAKING TO FILE REPORTS
Subject to the terms and conditions of Section 15(d) of the Securities Exchange Act of 1934, the undersigned
registrant hereby undertakes to file with the Securities and Exchange Commission such supplementary and periodic
information, documents, and reports as may be prescribed by any rule or regulation of the Commission heretofore
or hereafter duly adopted pursuant to authority conferred in that section.
RULE 484 UNDERTAKING ON INDEMNIFICATION
Article XIII of the By-laws of American Skandia Life Assurance Corporation, a Connecticut corporation, (the
"Corporation") provides for indemnification of its officers, directors, and employees as follows:
SECTION 1. Proceedings Other Than by or in the Right of the Corporation.
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The Corporation shall indemnify any person who was or is a party or is threatened to be made a party to any
threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or
investigate (other than an action by or in the right of the Corporation) by reason of the fact that he, or the
person whose representative he is, is or was a shareholder, director, officer, employee or agent of the
Corporation, or is or was serving solely at the request of the Corporation as a director, officer, employee or
agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including
attorneys' fees), judgments, fines, penalties, and amounts paid in settlement actually and reasonably incurred by
him in connection with such action, suit or proceeding if the person is successful on the merits in the defense
of the proceeding or as provided in Section 3 hereof, if he acted in good faith and in a manner he reasonably
believed to be in or not opposed to the best interests of the corporation, and with respect to any criminal
action or proceeding, the person had no reasonable cause to believe his conduct was unlawful or if upon
application to the court as provided in Section 5 hereof, the court shall have determined that in view of all the
circumstances such person is fairly and reasonably entitled to be indemnified, and then for such amount as the
court shall determine; except that, in connection with an alleged claim based upon his purchase or sale of
securities of the Corporation or of another enterprise, which he serves or served at the request of the
Corporation, the Corporation shall only indemnify such person after the court shall have determined, on
application as provided in Section 5 hereof, that in view of all the circumstances such person is fairly and
reasonably entitled to be indemnified, and then for such amount as the court shall determine. The termination of
any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendre or
its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a
manner which he reasonably believed to be in or not opposed to the best interests of the Corporation or of the
participants and beneficiaries of such employee benefit plan or trust and consistent with the provisions of such
employee benefit plan or trust, or, with respect to any criminal action or proceeding, that he had reasonable
cause to believe that his conduct was unlawful.
SECTION 2. Proceedings by or in the Right of the Corporation.
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The Corporation shall indemnify any person who was or is a party or threatened to be made a party to any
threatened, pending or completed action, suit or proceeding, by or in the right of the Corporation, to procure a
judgment in its favor by reason of the fact that he, or the person whose legal representative he is, is or was a
shareholder, director, officer, employee or agent of the Corporation, or is or was serving solely at the request
of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture,
trust or enterprise, against expenses (including attorney fees) actually and reasonably incurred by him in
connection with such proceeding in relation to matters as to which such person, or the person whose legal
representative his is, is finally adjudged not to have breached his duty to the Corporation, or where the court,
on application as provided in Section 6 hereof, shall have determined that in view or all the circumstances such
person is fairly and reasonably entitled to be indemnified, and then for such amount as the court shall
determine. The Corporation shall not so indemnify any such person for amounts paid to the Corporation, to a
plaintiff or to counsel for a plaintiff in settling or otherwise disposing of a proceeding, with or without court
approval; or for expenses incurred in defending a proceeding which is settled or otherwise disposed of without
court approval.
SECTION 3. Determination of Right of Indemnification.
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The conclusion provided for in Section 1 hereof may be reached by any of the following: (1) The Board of
Directors of the Corporation by a consent in writing signed by a majority of those directors who were not parties
to such proceeding; (2) independent legal counsel selected by a consent in writing signed by a majority of those
directors who were not parties to such proceeding; (3) in the case of any employee or agent who is not an officer
or director of the Corporation, the Corporation's general counsel; or (4) the shareholders of the Corporation by
the affirmative vote of at least a majority of the voting power of shares not owned by parties to such
proceeding, represented at an annual or special meeting of shareholders, duly called with notice of such purpose
stated. Such person shall also be entitled to apply to a court for such conclusion, upon application as provided
in Section 5 hereof, even though the conclusion reached by any of the foregoing shall have been adverse to him or
to the person whose legal representative he is.
Insofar as indemnification for liability arising under the Securities Act of 1933 may be permitted to directors,
officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the
registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is
against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid
by a director, officer or controlling person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
REPRESENTATION AND UNDERTAKING
The Registrant and the Company hereby make the following representations and undertakings:
(a) This filing is made pursuant to Rules 6c-3 and 6e-3(T) under the Investment Company Act of 1940 (the
"Act"). The Registrant and the Company elect to be governed by Rule 6e-3(T)(b)(13)(i)(A) under the Act with
respect to the Policies described in the prospectus. The Policies are designed in such a way as to qualify for
the exemptive relief from various provisions of the Act afforded by Rule 6e-3(T).
(b) The Company is relying on Paragraph (b)(13)(iii)(F) of Rule 6e-3(T) for the deduction of the mortality and
expense risk charges ("risk charges")assumed by the Company under the Policies. The Company represents that the
risk charges are reasonable in relation to all of the risks assumed by the issuer under the Policies. (Paragraph
(b)(13)(iii)(F)(2)(ii)). Actuarial memoranda demonstrating the reasonableness of these charges are maintained by
the Company, and will be made available to the Securities and Exchange Commission (the "Commission") on request.
(Paragraph (b)(13)(iii)(F)(3).
(c) The Company has concluded that there is a reasonable likelihood that the distribution financing
arrangement of the separate account will benefit the separate account and the contractholders and will keep and
make available to the Commission on request a memorandum setting forth the basis for this representation.
(Paragraph (b)(13)(iii)(F)(4)(ii)(A).
(d) The Company represents that the separate account will invest only in management investment companies which
have undertaken to have a board of directors, a majority of whom are not interested persons of the company,
formulate and approve any plan under Rule 12b-1 to finance distribution expenses. (Paragraph
(b)(13)(iii)(F)(4)(ii)(B)(2).
(e) Pursuant to Rule 26(e) under the Act, the Company hereby represents that the fees and charges deducted
under the Policy described in the Prospectus, in the aggregate, are reasonable in relation to the services
rendered, the expenses expected to be incurred, and the risks assumed by the Company.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be
signed on its behalf by the undersigned, thereunto duly authorized, and its seal to be hereunto affixed and attested, all in the
City of Shelton, State of Connecticut, on 18th day of January, 2001.
AMERICAN SKANDIA LIFE ASSURANCE CORPORATION
SEPARATE ACCOUNT F
(Registrant)
AMERICAN SKANDIA LIFE ASSURANCE CORPORATION
(Depositor)
By: /s/Lincoln R. Collins Attest: /s/Kathleen A. Chapman
Lincoln R. Collins, Senior Vice President Kathleen A. Chapman, Assistant Corporate Secretary
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following
persons in the capacities and on the date indicated.
Signature Title Date
--------- ----- ----
(Principal Executive Officer)
Wade A. Dokken* President and Chief Executive Officer, 1/18/01
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Wade A. Dokken Chairman of the Board and Director
(Principal Financial Officer and Principal Accounting Officer)
/s/Thomas M. Mazzaferro Executive Vice President and 1/18/01
Thomas M. Mazzaferro Chief Financial Officer
/s/David R. Monroe Senior Vice President, Treasurer 1/18/01
David R. Monroe and Corporate Controller
(Board of Directors)
Patricia Abram*** Gordon C. Boronow* Malcolm M. Campbell*
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Patricia Abram Gordon C. Boronow Malcolm M. Campbell
Wade A. Dokken* Y.K. Chan*** Lincoln R. Collins*
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Wade A. Dokken Y.K. Chan Lincoln R. Collins
Ian Kennedy*** Thomas M. Mazzaferro* Gunnar Moberg*
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Ian Kennedy Thomas M. Mazzaferro Gunnar Moberg
Christian Thwaites*** Bayard F. Tracy* Deborah G. Ullman***
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Christian Thwaites Bayard F. Tracy Deborah G. Ullman
Brett M. Winson**
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Brett M. Winson
*/**/***By: /s/Kathleen A. Chapman
Kathleen A. Chapman
*Pursuant to Powers of Attorney previously filed with Initial Registration Statement No. 333-25733
**Pursuant to Power of Attorney filed with Post-Effective Amendment No. 4 to Registration Statement No. 333-25733
***Pursuant to Powers of Attorney filed with Post-Effective Amendment No. 11 to Registration Statement No. 33-87010
