<PAGE>
As filed with the Securities and Exchange Commission on September 1, 2000.
Registration No. 811-10097
FORM N-8B-2
REGISTRATION STATEMENT OF UNIT INVESTMENT TRUSTS
WHICH ARE CURRENTLY ISSUING SECURITIES
PURSUANT TO SECTION 8(b) OF
THE INVESTMENT COMPANY ACT OF 1940
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMERICAN FAMILY VARIABLE ACCOUNT I
(Name of Unit Investment Trust)
AMERICAN FAMILY LIFE INSURANCE COMPANY
(Name of Depositor)
6000 American Parkway
Madison, Wisconsin 53783-0001
(Address of Principal Office of Registrant)
Issuer of periodic payment plan certificates
only for purposes of information provided herein
<PAGE>
I.
ORGANIZATIONAL AND GENERAL INFORMATION
1. (a) Furnish name of the trust and the Internal Revenue Service Employer
Identification Number.
The American Family Variable Account I (the "Variable
Account"). The Variable Account (the "trust") does not have
an Internal Revenue Service Employer Identification Number.
(b) Furnish title of each class or series of securities issued by the
trust.
The Variable Account issues flexible premium variable
universal life insurance policies (the "Policies") for
individuals.
2. Furnish name and principal business address and ZIP code and the Internal
Revenue Service Employer Identification number of each depositor of the
trust.
American Family Life Insurance Company ("American Family")
6000 American Parkway
Madison, WI 53783
Internal Revenue Service Employer Identification Number: 39-6040365
3. Furnish name and principal business address and ZIP code and the Internal
Revenue Service Employer Identification Number of each custodian or
trustee of the trust indicating for which class or series of securities
each custodian or trustee is acting.
American Family Life Insurance Company
6000 American Parkway
Madison, WI 53783
Internal Revenue Service Employer Identification Number: 39-6040365
4. Furnish name and principal business address and ZIP code and the Internal
Revenue Service Employer Identification Number of each principal
underwriter currently distributing securities of the trust.
Distribution of the Policies has not commenced. The Depositor has
entered into a distribution agreement with American Family
Securities, LLC ("AFS"). The principal business address of AFS is
6000 American Parkway, Madison, WI 53783. AFS' Identification Number
is: 39-1999869
<PAGE>
5. Furnish name of state or other sovereign power, the laws of which govern
with respect to the organization of the trust.
State of Wisconsin.
6. (a) Furnish the dates of execution and termination of any indenture or
agreement currently in effect under the terms of which the trust was
organized and issued or proposes to issue securities.
Not applicable. There is no such indenture or agreement. The
Board of Directors of American Family established the
Variable Account as a separate investment account under
Wisconsin law on August 7, 2000. The Variable Account is
subject to regulation by the Insurance Commissioner of the
State of Wisconsin.
(b) Furnish the dates of execution and termination of any indenture or
agreement currently in effect pursuant to which the proceeds of
payments on securities issued or to be issued by the trust are held
by the custodian or trustee.
Not applicable. American Family intends to act as its own
custodian for safekeeping of the Variable Account's assets.
7. Furnish in chronological order the following information with respect to
each change of name of the trust since January 1, 1930. If the name has
never been changed, so state.
The Variable Account's name has never been changed.
8. State the date on which the fiscal year of the trust ends.
December 31.
MATERIAL LITIGATION
9. Furnish a description of any pending legal proceedings, material with
respect to the security holders of the trust by reason of the nature of
the claim or the amount thereof, to which the trust, the depositor, or
the principal underwriter is a party or of which the assets of the trust
are the subject, including the substance of the claims involved in such
proceeding and the title of the proceeding. Furnish a similar statement
with respect to any pending administrative proceeding commenced by a
governmental authority or any such proceeding or legal proceeding known to
be contemplated by a governmental authority. Include any proceeding which,
although immaterial itself, is representative of, or one of, a group which
in the aggregate is material.
<PAGE>
There are no pending legal proceedings commenced by, or known to be
contemplated by, a governmental authority and no pending legal
proceedings, material with respect to prospective purchasers of the
Policies, to which the Variable Account, or the General Account of
American Family, or AFS is a party.
II.
GENERAL DESCRIPTION OF THE TRUST
AND SECURITIES OF THE TRUST
GENERAL INFORMATION CONCERNING THE SECURITIES OF THE TRUST AND THE RIGHTS OF
HOLDERS
10. Furnish a brief statement with respect to the following matters for each
class or series of securities issued by the trust:
(a) Whether the securities are of the registered or bearer type.
The Policies to be issued are of the registered type insofar
as a Policy is personal to the owner of the Policy ("Owner")
and the records concerning an Owner are maintained by or on
behalf of American Family.
(b) Whether the securities are of the cumulative or distributive type.
The Policy is of the cumulative type providing for no direct
distribution of income, dividends, or capital gains. Rather,
such amounts are reflected in the account value and death
benefits of the Policy.
(c) The rights of security holders with respect to withdrawal or
redemption.
Incorporated herein by reference to the Registration
Statement filed on August 31, 2000 as part of a registration
statement on Form S-6 under the Securities Act of 1933
(File No. 333-44956) (the "Registration Statement")
describing flexible premium variable universal life insurance
contracts, specifically the sections entitled "What Are the
Expenses Under A Policy?" "How Do I Access My Money?" and
"What Are My Settlement Options?"
- 4 -
<PAGE>
(d) The rights of security holders with respect to conversion, transfer,
partial redemption, and similar matters.
Incorporated herein by reference to the sections of the
Registration Statement entitled "The Policy" "Charges and
Deductions" "Death Benefit" "Surrenders and Partial
Surrenders" "Transfers" and "Other Policy Information --
Payment of Policy Benefits."
(e) If the trust is the issuer of periodic payment plan certificates,
the substance of the provisions of any indenture or agreement with
respect to lapses or defaults by security holders in making
principal payments, and with respect to reinstatement.
Incorporated herein by reference to the sections of the
Registration Statement entitled "The Policy -- Purchasing a
Policy" and "Policy Lapse and Reinstatement."
(f) The substance of the provisions of any indenture or agreement with
respect to voting rights, together with the names of any persons
other than security holders given the right to exercise voting
rights pertaining to the trust's securities or the underlying
securities and the relationship of such persons to the trust.
Incorporated herein by reference to the section of the
Registration Statement entitled "Additional Information --
Voting Portfolio Shares."
(g) Whether security holders must be given notice of any change in:
(1) The composition of the assets of the trust.
Incorporated herein by reference to the section of the
Registration Statement entitled "Additional Information
-- Changes to the Variable Account."
(2) The terms and conditions of the securities issued by the
trust.
Incorporated herein by reference to the sections of the
Registration Statement entitled "Other Policy
Information -- Modifying the Policy" and "Additional
Information -- Changes to the Variable Account."
- 5 -
<PAGE>
(3) The provisions of any indenture or agreement of the trust.
Not applicable.
(4) The identity of the depositor, trustee or custodian.
Incorporated herein by reference to the sections of the
Registration Statement entitled "American Family Life
Insurance Company."
(h) Whether the consent of security holders is required in order for
action to be taken concerning any change in:
(1) The composition of the assets of the trust.
Consent of the Policy Owners is not required when
changing the underlying securities of the Variable
Account. However, to change such securities, approval
of the Securities and Exchange Commission is required
by Section 26(b) of the Investment Company Act of 1940
(the "1940 Act").
(2) The terms and conditions of the securities issued by the
trust.
Incorporated herein by reference to the section of the
Registration Statement entitled "Other Policy
Information."
(3) The provisions of any indenture or agreement of the trust.
Not applicable.
(4) The identity of the depositor, trustee or custodian.
No consent of Policy Owners is necessary with respect
to any change in the identity of the depositor, trustee
or custodian, but a change in the depositor would be
subject to state insurance department review and
approval.
(i) Any other principal feature of the securities issued by the trust or
any other principal right, privilege or obligation not covered by
subdivisions (a) to (g) or by any other item in this form.
- 6 -
<PAGE>
Incorporated herein by reference to the section of the
Registration Statement entitled "Other Policy
Information."
INFORMATION CONCERNING THE SECURITIES UNDERLYING THE TRUST'S SECURITIES
11. Describe briefly the kind or type of securities comprising the unit of
specified securities in which security holders have an interest. (If the
unit consists of a single security issued by an investment company, name
such investment company and furnish a description of the type of
securities comprising the portfolio of such investment company.)
Incorporated herein by reference to the sections of the Registration
Statement entitled "The Variable Account and the Portfolios."
12. If the trust is the issuer of periodic payment plan certificates and if
any underlying securities were issued by another investment company,
furnish the following information for each such company:
(a) Name of company.
(b) Name and principal business address of depositor.
(c) Name and principal business address of trustee or custodian.
(d) Name and principal business address of principal underwriter.
(e) The period during which the securities of such company have been
the underlying securities.
The Variable Account may invest in the securities of various open-
end diversified management investment companies or separate
investment portfolios of such companies. A description of each
available option is set forth in the Registration Statement under
the section entitled "The Variable Account and the Portfolios." The
Variable Account has not started operations and does not yet invest
in these funds.
INFORMATION CONCERNING LOAD, FEES, CHARGES AND EXPENSES
13. (a) Furnish the following information with respect to each load, fee,
expense or charge to which: (1) principal payments, (2) underlying
securities, (3)
- 7 -
<PAGE>
distributions, (4) cumulated or reinvested distributions or income,
and (5) redeemed or liquidated assets of the trust's securities are
subject:
(A) The nature of such load, fee, expense or charge;
(B) The amount thereof;
(C) The name of the person to whom such amounts are paid
and his relationship to the trust;
(D) The nature of the services performed by such person in
consideration for such load, fee, expense or charge.
Incorporated herein by reference to the Registration
Statement sections entitled "The Variable Account and the
Portfolios" "Cash Values" "Charges and Deductions"
"Surrenders and Partial Surrenders" "Transfers" "Policy Lapse
and Reinstatement" and "Additional Information."
(b) For each installment payment type of periodic payment plan
certificate of the trust, furnish the following information with
respect to sales load and other deductions from principal payments.
See response to Item 13(a).
(c) State the amount of total deductions as a percentage of the net
amount invested for each type of security issued by the trust. State
each different sales charge available as a percentage of the public
offering price and as a percentage of the net amount invested. List
any special purchase plans or methods established by rule or
exemptive order that reflect scheduled variations in, or elimination
of, the sales load; and identify each class of individuals or
transactions to which such plans apply.
See response to Item 13(a).
(d) Explain fully the reasons for any difference in the price at which
securities are offered generally to the public, and the price at
which securities are offered for any class of transactions to any
class or group of individuals, including officers, directors, or
employees of the depositor, trustee, custodian or principal
- 8 -
<PAGE>
underwriter.
Incorporated herein by reference to the section of the
Registration Statement entitled "Charges and Deductions."
(e) Furnish a brief description of any loads, fees, expenses or charges
not covered in Item 13(a) which may be paid by security holders in
connection with the trust or its securities. (Assignment,
reinstatement, replacing lost certificates, etc.)
None.
(f) State whether the depositor, principal underwriter, custodian or
trustee, or any affiliated person of the foregoing may receive
profits or other benefits not included in answer to Item 13(a) or
13(d) through the sale or purchase of the trust's securities or
underlying securities or interests in underlying securities, and
describe ties or interests in underlying securities, and describe
fully the nature and extent of such profits or benefits.
Neither American Family, AFS nor any of their affiliates will
receive any profits or benefits not included in Item 13(a)
above. American Family will compensate certain persons,
including American Family and AFS agents for services in
connection with the selling and servicing of the Policies,
but such compensation will be paid from American Family s
general account. American Family may receive compensation
from the investment adviser or the distributor of certain of
the Funds based upon an annual percentage of the average
assets held in that Fund by American Family. These amounts
are intended to compensate American Family for administrative
and other services provided by American Family.
(g) State the percentage that the aggregate annual charges and
deductions for maintenance and other expenses of the trust bear to
the dividend and interest income from the trust property during the
period covered by the financial statements filed herewith.
Not applicable.
- 9 -
<PAGE>
INFORMATION CONCERNING THE OPERATIONS OF THE TRUST
14. Describe the procedure with respect to applications (if any) and the
issuance and authentication of the trust's securities, and state the
substance of the provisions of any indenture or agreement pertaining
thereto.
Incorporated herein by reference to the section of the Registration
Statement entitled "The Policy."
15. Described the procedure with respect to the receipt of payments from
purchasers of the trust's securities and the handling of the proceeds
thereof, and state the substance of the provisions of any indenture or
agreement pertaining thereto.
Incorporated herein by reference to the sections of the Registration
Statement entitled "The Policy" and "The Variable Account and the
Portfolios."
16. Describe the procedure with respect to the acquisition of underlying
securities and the disposition thereof, and state the substance of the
provisions of any indenture or agreement pertaining thereto.
Incorporated herein by reference to the sections of the Registration
Statement entitled "The Variable Account and the Portfolios."
17. (a) Describe the procedure with respect to withdrawal or redemption by
security holders.
See responses to Items 10(c) and (d).
(b) Furnish the names of any persons who may redeem or repurchase, or
are required to redeem or repurchase, the trust's securities or
underlying securities from security holders, and the substance of
the provisions of any indenture or agreement pertaining thereto.
American Family is required to process all surrender requests
as described in Item 10(c). The underlying funds will redeem
its shares upon American Family's request in accordance with
the 1940 Act.
(c) Indicate whether repurchased or redeemed securities will be canceled
or may be resold.
- 10 -
<PAGE>
Redeemed securities will be canceled.
18. (a) Describe the procedure with respect to the receipt, custody and
disposition of the income and other distributable funds of the trust
and state the substance of the provisions of any indenture or
agreement pertaining thereto.
All distributions to the Variable Account will be reinvested
in shares of the appropriate Fund. Such reinvestment will be
automatic and at net asset value.
(b) Describe the procedure, if any, with respect to the reinvestment of
distributions to security holders and state the substance of the
provisions of any indenture or agreement pertaining thereto.
Not applicable.
(c) If any reserves or special funds are created out of income or
principal, state with respect to each such reserve or fund the
purpose and ultimate disposition thereof, and describe the manner of
handling of same.
The assets of the Variable Account which are allocable to the
Policies constitute the reserves for benefits under the
Policies. The Company's general account assets are also
available to satisfy its obligations under the Policies.
Incorporated herein by reference to the section of the
Registration Statement entitled "The Variable Account and the
Portfolios."
(d) Submit a schedule showing the periodic and special distributions
which have been made to security holders during the three years
covered by the financial statements filed herewith. State for each
such distribution the aggregate amount and amount per share. If
distributions from sources other than current income have been made,
identify each such other source and indicate whether such
distribution represents the return of principal payments to security
holders. If payments other than cash were made, describe the nature
thereof, the account charged and the basis of determining the amount
of such charge.
Not applicable.
19. Describe the procedure with respect to the keeping of records and accounts
of the trust, the making of reports and the furnishing of information to
security holders, and the
- 11 -
<PAGE>
substance of the provisions of any indenture or agreement pertaining
thereto.
The Company maintains records and accounts of all
transactions involving the Variable Account at its
Administrative Service Center. Each year, or more often if
required by law, American Family sends a Policy Owner a
report showing information about his or her Policy for the
period covered by the report. American Family will also send
an annual and a semi-annual report for each Fund underlying a
Variable Subaccount in which a Policy Owner is invested as
required by the 1940 Act. In addition, when a Policy Owner
makes purchase payments, or if a Policy Owner makes transfers
or withdrawals, American Family will send the Policy Owner a
confirmation of these transactions.
20. State the substance of the provisions of any indenture or agreement
concerning the trust with respect to the following:
(a) Amendments to such indenture or agreement.
Not applicable.
(b) The extension or termination of such indenture or agreement.
Not applicable
(c) The removal or resignation of the trustee or custodian, or the
failure of the trustee or custodian to perform its duties,
obligations and functions.
Not applicable.
(d) The appointment of a successor trustee and the procedure if a
successor trustee is not appointed.
Not applicable.
(e) The removal or resignation of the depositor, or the failure of the
depositor to perform its duties, obligations and functions.
Not applicable.
- 12 -
<PAGE>
(f) The appointment of a successor depositor and the procedure if a
successor depositor is not appointed.
Not applicable.
21. (a) State the substance of the provisions of any indenture or agreement
with respect to loans to security holders.
Incorporated herein by reference to the section of the
Registration Statement entitled "Loans."
(b) Furnish a brief description of any procedure or arrangement by which
loans are made available to security holders by the depositor,
principal underwriter, trustee or custodian, or any affiliated
person of the foregoing.
Proceeds of Policy Loans ordinarily will be disbursed within
seven days from the date of receipt and approval by the
Company of a request for a loan at its Administrative Service
Center, although payments may be postponed under certain
circumstances. Payment of a Policy loan may be postponed
whenever (i) the New York Stock Exchange is closed other than
customary weekend and holiday closings, or trading of the New
York Stock Exchange is restricted as determined by the
Securities and Exchange Commission (the "Commission"); (ii)
the Commission by order permits postponement for the
protection of Policy Owners; (iii) an emergency exists, as
determined by the Commission, as a result of which it is not
reasonably practicable to determine the value of the Variable
Account's net assets. The Company may defer making payments
attributable to a check that has not cleared, and may defer
payment of proceeds from the Fixed Account for a withdrawal,
surrender, loan, or transfer request for up to six months
from the date of receipt of the request, if permitted by
state law.
See the Registration Statement under the sections entitled
"Loans" and "Other Policy Information."
(c) If such loans are made, furnish the aggregate amount of loans
outstanding at the end of the last fiscal year, the amount of
interest collected during the last fiscal year allocated to the
depositor, principal underwriter, trustee or custodian or
- 13 -
<PAGE>
affiliated person of the foregoing and the aggregated amount of
loans in default at the end of the last fiscal year covered by
financial statements filed herewith.
Not applicable as no such loans have been made.
22. State the substance of the provisions of any indenture or agreement with
respect to limitations on the liabilities of the depositor, trustee or
custodian, or any other party to such indenture or agreement.
Not applicable.
23. Describe any bonding arrangement for officers, directors, partners or
employees of the depositor or principal underwriter of the trust,
including the amount of coverage and the type of bond.
Travelers Insurance Company has issued a fidelity bond in the
amount of approximately $10 million per occurrence and $20
million in the aggregate covering American Family's
directors, officers, and employees. See the Registration
Statement under the section entitled "Additional Information
About the Company."
24. State the substance of any other material provisions of any indenture or
agreement concerning the trust or its securities and a description of any
other material functions or duties of the depositor, trustee or custodian
not stated in Item 10 or Items 14 to 23 inclusive.
Not applicable.
- 14 -
<PAGE>
III.
ORGANIZATION, PERSONNEL AND AFFILIATED PERSONS OF DEPOSITOR
ORGANIZATION AND OPERATIONS OF DEPOSITOR
25. State the form or organization of the depositor of the trust, the name of
the state or other sovereign power under the laws of which the depositor
was organized and the date of organization.
American Family is a stock life insurance company. It was
incorporated in Wisconsin in 1957.
26. (a) Furnish the following information with respect to all fees received
by the depositor of the trust in connection with the exercise of any
functions or duties concerning securities of the trust during the
period covered by the financial statements filed herewith.
Not applicable.
(b) Furnish the following information with respect to any fee or any
participation in fees received by the depositor from any underlying
investment company or any affiliated person or investment adviser of
such company.
(1) The nature of such fee or participation.
(2) The name of the person making payment.
(3) The nature of the services rendered in consideration for such
fee or participation.
(4) The aggregate amount received during the last fiscal year
covered by the financial statements filed herewith.
Not applicable.
27. Describe the general character of the business engaged in by the depositor
including a statement as to any business other than that of depositor of
the trust. If the depositor acts or has acted in any capacity with respect
to any investment company or companies other than the trust, state the
name or names of such company or companies, their relationship,
- 15 -
<PAGE>
if any, to the trust, and the nature of the depositor's activities
therewith. If the depositor has ceased to act in such named capacity,
state the date of and circumstance surrounding such cessation.
American Family is engaged in the business of issuing life insurance
policies and annuity contracts, and is currently licensed to do
business in Arizona, Colorado, Illinois, Indiana, Iowa, Kansas,
Minnesota, Missouri, Nebraska, Nevada, North Dakota, Ohio, Oregon,
South Dakota and Wisconsin. American Family also acts as depositor
for American Family Variable Account II, a separate account used to
fund variable annuity contracts.
OFFICIALS AND AFFILIATED PERSONS OF DEPOSITOR
28. (a) Furnish as at latest practicable date the following information with
respect to the depositor of the trust, with respect to each officer,
director, or partner of the depositor, and with respect to each
natural person directly or indirectly owning, controlling or holding
with power to vote 5 percent or more of the outstanding voting
securities of the depositor.
(i) name and principal business address;
(ii) nature of relationship or affiliation with depositor of the
trust;
(iii) ownership of all securities of the depositor;
(iv) other companies of which each person named above is presently
officer, director, or partner.
See response to Items 28(b) and Item 29.
(b) Furnish a brief statement of the business experience during the last
five years of each officer, director or partner of the depositor.
See table below.
Unless otherwise noted, each person's address is American Family Life Insurance
Company, 6000 American Parkway, Madison, Wisconsin 53783-0001.
- 16 -
<PAGE>
[PROVIDE ADDRESS AND OCCUPATION]
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
NAME POSITION WITH AMERICAN BUSINESS EXPERIENCE IN LAST 5
FAMILY YEARS
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
Harvey Randall Pierce Director, Chairman of the Board,
and C.E.O. President since 1/90; Director & C.O.O.
since 2/99.
-----------------------------------------------------------------------------------------------------------------------------------
David Ralph Anderson Director, President and C.O.O.
Vice President, Information Systems, 1996-
2/99; Director, Accounting for AFMIC prior
to 1996.
-----------------------------------------------------------------------------------------------------------------------------------
James Francis Eldridge Director, Executive Vice
President, Legal; Secretary Director, Executive Vice President, Legal;
Secretary since 1991.
-----------------------------------------------------------------------------------------------------------------------------------
John Brent Johnson Director, Executive Vice
President, Finance; Treas. Director, Executive Vice President, Finance;
Treasurer since 2/99; Vice President,
Controller prior to 2/99.
-----------------------------------------------------------------------------------------------------------------------------------
Joseph William Tisserand Director, Vice President,
Operations Director, Vice President, Operations since
8/96; Regional Vice President of AFMIC
prior to 8/96.
-----------------------------------------------------------------------------------------------------------------------------------
Daniel Raymond DeSalvo Director
Director of AFLIC.
-----------------------------------------------------------------------------------------------------------------------------------
Daniel Robert Schultz Vice President, Controller
Vice President, Controller since 2/99;
Corporate Tax Director of AFMIC prior to
2/99.
-----------------------------------------------------------------------------------------------------------------------------------
Thomas Syme King Vice President, Investments
Vice President, Investments for AFLIC.
-----------------------------------------------------------------------------------------------------------------------------------
William Joseph Smith Assistant Treasurer
Assistant Treasurer for AFLIC.
-----------------------------------------------------------------------------------------------------------------------------------
James Walter Behrens Assistant Secretary
Assistant Treasurer for AFLIC.
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
COMPANIES OWNING SECURITIES OF DEPOSITOR
29. Furnish as at latest practicable date the following information with
respect to each company which directly or indirectly owns, controls or
holds with power to vote five percent or more of the outstanding voting
securities of the depositor: (a) name and principal business address;
(b) nature of business; (c) ownership of all securities of the depositor.
American Family is a wholly owned subsidiary of American Family
Mutual Insurance Company, located at 6000 American Parkway, Madison,
WI 53783- 0001. American Family Mutual Insurance Company is one of
the leading
- 17 -
<PAGE>
property/casualty insurance companies in the United States with
operations in fifteen states located primarily in the Midwest.
American Family Mutual Insurance Company offers a broad line of
insurance coverage to individuals and businesses, including
automobile, accident and health, homeowners, farm owners, mobile
homeowners, inland marine, burglary, commercial, personal and fire
coverage.
CONTROLLING PERSONS
30. Furnish as at latest practicable date the following information with
respect to any person, other than those covered by Items 28, 29, and 42
who directly or indirectly controls the depositor.
None.
COMPENSATION OF OFFICERS AND DIRECTORS OF DEPOSITOR
COMPENSATION OF OFFICERS
31. Furnish the following information with respect to the remuneration for
services paid by the depositor during the last fiscal year covered by
financial statements filed herewith:
(a) directly to each of the officers or partners of the depositor
directly receiving the three highest amounts of remuneration;
<TABLE>
<CAPTION>
All Other
Name and Principal Position Year Salary Bonus Compensation
---------------------------- ------ ------- ------- ------------
<S> <C> <C> <C> <C>
Joseph W. Tiserand, Vice President, Life 1999 $191,793.50 $16,447.50 $63,293.23
Thomas S. King, Vice President, Investments 1999 $69,748.92 $4,914.00 $12,746.37
Harvey R. Pierce, Chairman & CEO 1999 $51,398.48 $6,514.20 $7,356.12
</TABLE>
(b) directly to all officers or partners of the depositor as a group
exclusive of persons whose remuneration is included under Item
31(a), stating separately the aggregate amount paid by the depositor
itself and the aggregate amount paid by all the subsidiaries;
- 18 -
<PAGE>
<TABLE>
<CAPTION>
All Other
Name And Principal Combined Combined Compensation, Combined
Position Year Salary Bonus Combined Total
--------- ------ ------- ------- -------- ------
<S> <C> <C> <C> <C> <C>
All other officers 1999 $146,270.17 $14,642.52 $15,006.57 $175,919.26
</TABLE>
(c) indirectly or through subsidiaries to each of the officers or
partners of the depositor.
Not applicable. No officer, employee, etc. affiliated with
the depositor receives additional remuneration for services
rendered with respect to the Variable Account.
COMPENSATION OF DIRECTORS
32. Furnish the following information with respect to the remuneration for
services, exclusive of remuneration reported under Item 31, paid by the
depositor during the last fiscal year covered by financial statements
filed herewith:
(a) the aggregate direct remuneration to directors;
(b) indirectly or through subsidiaries to directors.
Not applicable. See response to Item 31.
COMPENSATION TO EMPLOYEES
33. (a) Furnish the following information with respect to the aggregate
amount of remuneration for services of all employees of the
depositor (exclusive of persons whose remuneration is reported in
Items 31 and 32) who received remuneration in excess of $10,000
during the last fiscal year covered by financial statements filed
herewith from the depositor and any of its subsidiaries.
Not applicable. See response to Item 31.
- 19 -
<PAGE>
(b) Furnish the following information with respect to the remuneration
for services paid directly during the last fiscal year covered by
financial statement filed herewith to the following classes of
persons (exclusive of those persons covered by Item 33(a)): (1)
Sales managers, branch managers, district managers and other persons
supervising the sale of registrant's securities; (2) Salesmen, sales
agents, canvassers and other persons making solicitations but not in
supervisory capacity; (3) Administrative and clerical employees; and
(4) Others (specify). If a person is employed in more than one
capacity, classify according to predominant type of work.
Not applicable. See response to Item 31.
COMPENSATION TO OTHER PERSONS
34. Furnish the following information with respect to the aggregate amount of
compensation for services paid any person (exclusive of persons whose
remuneration is reported in Items 31, 32 and 33), whose aggregate
compensation in connection with services rendered with respect to the
trust in all capacities exceeded $10,000 during the last fiscal year
covered by financial statements filed herewith from the depositor and any
of its subsidiaries.
Not applicable.
IV.
DISTRIBUTION AND REDEMPTION OF SECURITIES
DISTRIBUTION OF SECURITIES
35. Furnish the names of the states in which sales of the trust's securities
(A) are currently being made, (B) are presently proposed to be made, and
(c) have been discounted, indicating by appropriate letter the status with
respect to each state.
- 20 -
<PAGE>
No sales of the Policies have been made or are currently being
made to the public in any state. The Company intends to market the
Policies in all jurisdictions that has approved its sale of
insurance.
36. If sales of the trust's securities have at any time since January 1, 1936
been suspended for more than a month describe briefly the reasons for such
suspension.
Not applicable.
37. (a) Furnish the following information with respect to each instance
where subsequent to January 1, 1937, any federal or state
governmental officer, agency, or regulatory body denied authority to
distribute securities of the trust, excluding a denial which was
merely a procedural step prior to any determination by such officer,
etc. and which denial was subsequently rescinded.
(1) Name of officer, agency or body.
(2) Date of denial.
(3) Brief statement of reason given for revocation.
Not applicable.
- 21 -
<PAGE>
(b) Furnish the following information with regard to each instance
where, subsequent to January 1, 1937, the authority to distribute
securities of the trust has been revoked by any federal or state
governmental officer, agency or regulatory body.
Name of officer, agency or body.
Date of revocation.
Brief statement of reason given for revocation.
Not applicable.
38. (a) Furnish a general description of the method of distribution of
securities of the trust.
The Policies will be sold by individuals who are licensed and
appointed as life insurance agents by American Family and
who are also registered representatives of American Family
Securities, LLC, ("AFS").
These representatives receive commissions for selling
Policies calculated as a percentage of target premiums and
purchase payments (in the first year of the Policy, up to a
maximum of 80% of the target premium and 3.69% of premium
payments in excess of the target Premium). Incorporated
herein by reference to the section of the Registration
Statement entitled "Additional Information."
(b) State the substance of any current selling agreement between each
principal underwriter and the trust or the depositor, including a
statement as to the inception and termination dates of the
agreement, any renewal and termination provisions, and any
assignment provisions.
See response to Item 38(a). AFS for acting as principal
underwriter under a distribution agreement to be filed by
Pre-Effective Amendment to the Registration Statement.
- 22 -
<PAGE>
(c) State the substance of any current agreements or arrangements of
each principal underwriter with dealers, agents, salesman, etc. with
respect to commissions and overriding commissions, territories,
franchises, qualifications and revocations. If the trust is the
issuer of periodic payment plan certificates, furnish schedules of
commissions and the bases thereof. In lieu of a statement concerning
schedules of commissions, such schedules of commissions may be filed
as Exhibit A(3)(c).
See response to Item 38(a). Commission information is to be
filed by Pre-Effective Amendment to the Registration
Statement.
INFORMATION CONCERNING PRINCIPAL UNDERWRITER
39. (a) State the form of organization of each principal underwriter of
securities of the trust, the name of the state or other sovereign
power under the laws of which each underwriter was organized and the
date of organization.
AFS is a corporation organized under the laws of Wisconsin on
July 14, 2000.
(b) State whether any principal underwriter currently distributing
securities of the trust is a member of the National Association of
Securities Dealers, Inc.
Not applicable. AFS is not currently distributing the
securities of the trust.
40. (a) Furnish the following information with respect to all fees received
by each principal underwriter of the trust from the sale of
securities of the trust and any other functions in connection
therewith exercised by such underwriter in such capacity or
otherwise during the period covered by the financial statements
filed herewith.
Not applicable. Securities of the trust are not currently
being sold.
(b) Furnish the following information with respect to any fee or any
participation in fees received by each principal underwriter from
any underlying investment company or any affiliated person or
investment adviser of such company:
- 23 -
<PAGE>
(1) The nature of such fee or participation.
(2) The name of the person making payment.
(3) The nature of the services rendered in consideration for such fee or
participation.
(4) The aggregate amount received during the last fiscal year covered by
the financial statements filed herewith.
Not applicable.
41. (a) Describe the general character of the business engaged in by each
principal underwriter, including a statement as to any business
other than the distribution of securities of the trust. If a
principal underwriter acts or has acted in any capacity with respect
to any investment company or companies other than the trust, state
the name or names of such company or companies, their relationship,
if any, to the trust and the nature of such activities. If a
principal underwriter has ceased to act in such named capacity,
state the date of and the circumstances surrounding such cessation.
AFS will act as principal underwriter of the Policies. AFS is
registered with the Commission under the Securities Exchange
Act of 1934 as a broker-dealer and is a member of the
National Association of Securities Dealers, Inc. AFS also
acts as principal underwriter of variable annuity contracts
funded by American Family Variable Account II, a separate
account sponsored by American Family.
(b) Furnish as at latest practicable date the address of each branch
office of each principal underwriter currently selling securities of
the trust and furnish the name and residence address of the person
in charge of such office.
Not applicable. Securities of the trust are not currently
being sold.
- 24 -
<PAGE>
(c) Furnish the number of individual salespersons of each principal
underwriter through whom any of the securities of the trust were
distributed for the last fiscal year of the trust covered by the
financial statements filed herewith and furnish the aggregate amount
of compensation received by such salespersons in such year.
Not applicable. Securities of the Variable Account have not
yet been distributed by the principal underwriter or any of
its representatives.
42. Furnish as at latest practicable date the following information with
respect to each principal underwriter currently distributing securities
of the trust and with respect to each of the officers, directors or
partners of such underwriter: (a) name and principal business address;
(b) position with principal underwriter; (c) ownership of securities of
the trust.
Not applicable. Securities of the Variable Account have not yet been
distributed by the principal underwriter or any of its
representatives.
43. Furnish, for the last fiscal year covered by the financial statements
filed herewith, the amount of brokerage commissions received by any
principal underwriter who is a member of a national securities exchange
and who is currently distributing the securities of the trust or effecting
transactions for the trust in the portfolio securities of the trust.
Not applicable. Securities of the trust are not currently being
sold.
OFFERING PRICE OR ACQUISITION VALUATION OF SECURITIES OF THE TRUST
44. (a) Furnish the following information with respect to the method of
valuation used by the trust for purposes of determining the offering
price to the public of securities issued by the trust or the
valuation of shares or interests in the underlying securities
acquired by the holder of a periodic payment plan certificate:
(1) The source of quotations used to determine the value of
portfolio securities.
- 25 -
<PAGE>
Shares of each Fund held by the Variable Account are
valued at net asset value per share as supplied to the
Company by the applicable underlying investment
company. Incorporated herein by reference to the
Registration Statement sections entitled "The Policy"
and "Cash Values."
(2) Whether opening, closing, bid, asked or any other price is
used.
See response to Item 44(a)(1).
(3) Whether price is as of the day of sale or as of any other
time.
See response to Item 44(a)(1).
(4) A brief description of the methods used by registrant for
determining other assets and liabilities including accrual
for expenses and taxes (including taxes on unrealized
appreciation).
See response to Item 44(a)(1).
(5) Other items which registrant adds to the net asset value in
computing offering price of its securities.
See response to Item 44(a)(1).
(6) Whether adjustments are made for fractions:
(i) before adding distributor's compensation (load); and
(ii) after adding distributor's compensation (load).
Not applicable.
(b) Furnish a specimen schedule showing the components of the offering
price of the
- 26 -
<PAGE>
trust's securities as at the latest practicable date.
No Policies have yet been offered for sale to the public.
(c) If there is any variation in the offering price of the trust's
securities to any person or classes of persons other than
underwriters, state the nature and amount of such variation and
indicate the person or classes of persons to whom such offering is
made.
Incorporated herein by reference to the section of the
Registration Statement entitled "Charges and Deductions."
45. Furnish the following information with respect to any suspension of the
redemption rights of the securities issued by the trust during the three
fiscal years covered by the financial statements filed herewith.
Not applicable.
REDEMPTION VALUATION OF SECURITIES OF THE TRUST
46. (a) Furnish the following information with respect to the method of
determining the redemption or withdrawal valuation of securities
issued by the trust:
(1) The source of quotations used to determine the value of
portfolio securities.
(2) Whether opening, closing, bid, asked or any other price is
used.
(3) Whether price is as of the day of sale or as of any other
time.
(4) A brief description of the methods used by registrant for
determining other assets and liabilities including accrual
for expenses and taxes (including taxes on unrealized
appreciation).
- 27 -
<PAGE>
(5) Other items which registrant deducts from the net asset value
in computing redemption value of its securities:
(6) Whether adjustments are made for fractions.
See responses to Item 44(a) and Item 18(c).
(b) Furnish a specimen schedule showing the components of the redemption
price to the holders of the trust's securities as at latest
practicable date.
No Policies have yet been offered for sale to the public.
PURCHASE AND SALE OF INTERESTS IN UNDERLYING SECURITIES FROM AND TO SECURITY
HOLDERS
47. Furnish a statement as to the procedure with respect to the maintenance
of a position in the underlying securities or interests in the underlying
securities, the extent and nature thereof and the person who maintains
such a position. Include a description of the procedure with respect to
the purchase of underlying securities or interests in underlying
securities from security holders who exercise redemption or withdrawal
rights and the sale of such underlying securities and interests in the
underlying securities to other security holders. State whether the method
of valuation of such underlying securities or interests in underlying
securities differs from that set forth in Items 44 and 46. If any item of
expenditure included in the determination of the valuation is not or may
not actually be incurred or expended, explain the nature of such item and
who may benefit from the transaction.
Variable Subaccounts buy and redeem Fund shares at net asset value
without any sales charge. American Family reinvests any dividends
from net investment income and distributions from realized gains
from security transactions of a Fund at net asset value in shares of
the same Fund. Income, gains and losses, realized or unrealized, of
the Variable Account are credited to or charged against the Variable
Account without regard to any other income, gains or losses of
American Family. Assets equal to the reserves and other Policy
liabilities with respect to the Variable Account are not chargeable
with liabilities arising out of any other business or account of
American Family. If the assets exceed the required reserves and
other liabilities, the Company may transfer the excess to American
Family's General Account. The method of valuation of a Fund's
securities does
- 28 -
<PAGE>
not differ from that set forth in Items 44 and 46.
V.
INFORMATION CONCERNING THE TRUSTEE OR CUSTODIAN
48. Furnish the following information as to each trustee or custodian of the
trust:
(a) Name and principal business address.
(b) Form of organization.
c) State or other sovereign power under the laws of which the trustee
or custodian was organized.
(d) Name of governmental supervising or examining authority.
Not applicable.
49. State the basis for payment of fees or expenses of the trustee or
custodian for services rendered with respect to the trust and its
securities, and the aggregate amount thereof for the last fiscal
year. Indicate the person paying such fees or expenses. If any fees
or expenses are prepaid, state the unearned amount.
Not applicable.
50. State whether the trustee or custodian or any other person has or
may create a lien on the assets of the trust, and if so, give full
particulars, outlining the substance of the provisions of any
indenture or agreement with respect thereto.
Not applicable.
- 29 -
<PAGE>
VI.
INFORMATION CONCERNING INSURANCE OF
HOLDERS OF SECURITIES
51. Furnish the following information with respect to insurance of holders of
securities:
(a) The name and address of the insurance company.
The name and address of the insurance company are set forth
in Item 2.
(b) The types of policies and whether individual or group policies.
The Policies are flexible premium variable universal life
insurance policies (the "Policies") for individuals.
(c) The types of risks insured and excluded.
Incorporated herein by reference to the sections of the
Registration Statement entitled "The Policy" "Charges and
Deductions" and "Death Benefit."
(d) The coverage of the policies.
The initial Specified Amount of coverage depends on the
amount of the initial purchase payment of a Policy by a
Policy Owner, and the age and sex of the proposed Insured.
The Company will show the initial Specified Amount of
coverage in the Policy. The Specified Amount remains level
unless the Policy Owner makes additional purchase payments or
withdrawals.
- 30 -
<PAGE>
(e) The Beneficiaries of such policies and the uses to which the
proceeds of policies must be put.
The recipient of the benefits of the insurance undertakings
is either any designated beneficiaries, any contingent
beneficiaries, the estate of the Policy Owner, or the estate
of the Insured, as stated in the application for the Policy
OR as subsequently modified by the Policy Owner. See the
sections of the Registration Statement entitled "The Policy"
"Death Benefit" and "Other Policy Information."
(f) The terms and manners of cancellation and of reinstatement.
The insurance undertakings described in Item 51(c) are an
integral part of the Policy and may not be terminated while
the Policy remains in effect. Incorporated herein by
reference to the sections of the Registration Statement
entitled "Policy Lapse and Reinstatement."
(g) The method of determining the amount of premiums to be paid by
holders of securities.
Incorporated herein by reference to the sections of the
Registration Statement entitled "The Policy" "Premiums" and
"Charges and Deductions."
(h) The amount of aggregate premiums paid to the insurance company
during the last fiscal year.
Not applicable.
(i) Whether any person other than the insurance company receives any
part of such premiums, the name of each such person and the amounts
involved, and the nature of the services rendered therefor.
No other person other than American Family receives any part
of the amounts deducted for cost of insurance.
- 31 -
<PAGE>
(j) The substance of any other material provisions of any indenture or
agreement of the trust relating to insurance.
None.
VII.
POLICY OF REGISTRANT
52. (a) Furnish the substance of the provisions of any indenture or
agreement with respect to the conditions upon which and the method
of selection by which particular portfolio securities must or may be
eliminated from assets of the trust or must or may be replaced by
other portfolio securities. If an investment adviser or other person
is to be employed in connection with such selection, elimination or
substitution, state the name of such person, the nature of any
affiliation to the depositor, trustee or custodian, and any
principal underwriter, and the amount of remuneration to be received
for such services. If any particular person is not designated in the
indenture or agreement, describe briefly the method of selection of
such person.
See response to Item 10(g) and Item 10(h) regarding American
Family's right, subject to applicable law, to make additions
to, deletions from, or substitutions of shares of a Fund that
are held by the Variable Account or that the Variable Account
may purchase, and to establish additional Variable
Subaccounts or eliminate Variable Subaccounts, if marketing,
tax, or investment conditions so warrant. Subject to any
required regulatory approvals, American Family reserves the
right to transfer assets of a Variable Subaccount that
American Family determines to be associated with the class of
Policies to which the Policy belongs, to another separate
account or to another separate account subaccount.
(b) Furnish the following information with respect to each transaction
involving the elimination of any underlying security during the
period covered by the financial
- 32 -
<PAGE>
statements filed herewith.
Not applicable.
(c) Describe the policy of the trust with respect to the substitution
and elimination of the underlying securities of the trust with
respect to:
(1) the grounds for elimination and substitution;
(2) the type of securities which may be substituted;
(3) whether the acquisition of such substituted security or
securities would constitute the concentration of investment
in a particular industry or group of industries or would
conform to a policy of concentration of investment in a
particular industry or group of industries;
(4) whether such substituted securities may be the securities of
another investment company; and
(5) the substance of the provisions of any indenture or agreement
which authorize or restrict the policy of the registrant in
this regard.
See response to Item 52(a).
(d) Furnish a description of any policy (exclusive of policies covered
by paragraphs (a) and (b) herein) of the trust which is deemed a
matter of fundamental policy and which is elected to be treated as
such.
None.
53. (a) State the taxable status of the trust.
Incorporated herein by reference to the section of the
Registration Statement entitled "Federal Tax Considerations."
- 33 -
<PAGE>
(b) State whether the trust qualified for the last taxable year as a
regulated investment company as defined in Section 851 of the
Internal Revenue Code of 1954, and state its present intention with
respect to such qualifications during the current taxable year.
Not applicable. See response to Item 53(a).
VIII.
FINANCIAL AND STATISTICAL INFORMATION
54. If the trust is not the issuer of periodic payment plan certificates,
furnish the following information with respect to each class or series of
its securities.
Not applicable.
55. If the trust is the issuer of periodic payment plan certificates, a
transcript of a hypothetical account shall be filed in approximately the
following form on the basis of the certificate calling for the smallest
amount of payments. The schedule shall cover a certificate of the type
currently being sold assuming that such certificate had been sold at a
date approximately ten years prior to the date of registration or at the
approximate date of organization of the trust.
Not applicable.
56. If the trust is the issuer of periodic payment plan certificates, furnish
by years for the period covered by the financial statements filed herewith
in respect of certificates sold during each period, the following
information for each fully paid type and each installment payment type of
periodic payment plan certificate currently being issued by the trust.
Not applicable.
- 34 -
<PAGE>
57. If the trust is the issuer of periodic payment plan certificates, furnish
by years for the period covered by the financial statements filed herewith
the following information for each installment payment type of periodic
payment plan certificate currently being issued by the trust.
Not applicable.
58. If the trust is the issuer of periodic payment plan certificates, furnish
the following information for each installment payment type of periodic
payment plan certificate outstanding as at the latest practicable date.
Not applicable.
59. Financial Statements:
FINANCIAL STATEMENTS OF THE TRUST
No financial statements are presented for the Variable Account
because it has yet to commence operations.
FINANCIAL STATEMENTS OF THE DEPOSITOR
Incorporated herein by reference to the Registration Statement on
Form S-6 for the American Family Variable Account I (File
No. 333-44956).
- 35 -
<PAGE>
IX.
EXHIBITS
A. Furnish the most recent form of the following as amended to date and
currently in effect:
The indenture or agreement under the terms of which the trust was
organized or issued securities.
Incorporated herein by reference to the Registration
Statement on Form S-6 for the American Family Variable
Account I (File No. 333-44956).
The indenture or agreement pursuant to which the proceeds of payments of
securities are held by the custodian or trustee, if such indenture or
agreement is not the same as the indenture or agreement referred to in
paragraph (1).
Not applicable.
(3) Distributing contracts:
Agreements between the trust and principal underwriter or between
the depositor and principal underwriter.
To be filed by Pre-Effective Amendment to the Registration
Statement on Form S-6 for the American Family Variable
Account I (File No. 333-44956).
Specimen of typical agreements between principal underwriter and
dealers, managers, sales supervisors and salesmen.
To be filed by Pre-Effective Amendment to the Registration
Statement on Form S-6 for the American Family Variable
Account I (File No. 333-44956).
- 36 -
<PAGE>
(c) Schedules of sales commissions.
To be filed by Pre-Effective Amendment to the
Registration Statement on Form S-6 for the American
Family Variable Account I (File No. 333-44956).
(4) Any agreement between the depositor, principal underwriter and the
custodian or trustee other than indentures or agreement set forth in
paragraphs (1), (2) and (3) with respect to the trust or its
securities.
Not applicable.
(5) The form of each type of security.
Incorporated herein by reference to the Registration
Statement on Form S-6 for the American Family
Variable Account I (File No. 333-44956).
(6) The certificate of incorporation or other instrument of organization
and by-laws of the depositor.
Incorporated herein by reference to the Registration
Statement on Form S-6 for the American Family
Variable Account I (File No. 333-44956).
(7) Any insurance policy between the trust and the insurance company or
between the depositor and the insurance company, together with the
table of insurance premiums.
Not applicable.
(8) Any agreement between the trust or the depositor concerning the
trust with the issuer, depositor, principal underwriter or
investment adviser of any underlying investment company or any
affiliated person of such persons.
To be filed by Pre-Effective Amendment to the
Registration Statement on Form S-6 for the American
Family Variable Account I (File No.
- 37 -
<PAGE>
333-44956).
(9) All other material contracts not entered into in the ordinary course
of business of the trust or of the depositor concerning the trust.
None.
(10) Form of application for a periodic payment plan certificate.
Incorporated herein by reference to the Registration
Statement on Form S-6 for the American Family
Variable Account I (File No. 333-44956).
B. Furnish copies of each of the following:
Each notice sent to security holders pursuant to Section 19 of the Act
prior to the date of the filing of this form.
Not applicable.
(2) Each annual report sent to security holders covering each fiscal
year ending after January 1, 1937, exclusive of reports, copies of
which have heretofore been filed with the Commission pursuant to the
Act.
Not applicable.
C. Furnish the name and address of each dealer to or through whom any
principal underwriter currently offering securities of the trust,
distributed securities of the trust during the last fiscal year covered
by the financial statements filed herewith.
Not applicable.
- 38 -
<PAGE>
Pursuant to the requirements of the Investment Company Act of 1940, the
Depositor of the Registrant has caused this Registration Statement to be duly
signed on behalf of the Registrant in the City of Madison, and the State of
Wisconsin on the 31st day of August, 2000.
[Seal]
AMERICAN FAMILY VARIABLE ACCOUNT I
(Registrant)
By: /s/ HARVEY RANDELL PIERCE*
---------------------------------------------
Name: HARVEY RANDELL PIERCE
-------------------------------------------
Title: Chairman of the Board and C.E.O.
AMERICAN FAMILY LIFE INSURANCE COMPANY
------------------------------------------
AMERICAN FAMILY LIFE INSURANCE COMPANY
(Depositor)
By: /s/ HARVEY RANDELL PIERCE*
---------------------------------------------
Name: HARVEY RANDELL PIERCE
-------------------------------------------
Title: Chairman of the Board and C.E.O.
AMERICAN FAMILY LIFE INSURANCE COMPANY
------------------------------------------
ATTEST:
By: /s/ ROSALIE BECK DETMER
-------------------------------------------
Name: ROSALIE BECK DETMER
-----------------------------------------
Title: Assistant General Counsel
American Family Life Insurance Company
----------------------------------------
* /s/ James W. Behrens On August 31, 2000, as
--------------------------------- Attorney-in-Fact pursuant to
James W. Behrens powers of attorney
Assistant Secretary incorporated herein by
American Family Life reference to the Registration
Insurance Company Statement on Form S-6 for the
American Family Variable
Account I (File
No. 333-44956).
- 39 -
