<PAGE> 1
1998 ANNUAL
REPORT
...........
KEMPER
ADVANTAGE
Individual Variable Annuity Contracts
------
Kemper Investors Life Insurance Company
------
Variable Annuity Account C
PERIOD ENDED DECEMBER 31, 1998 [KEMPER LOGO]
<PAGE> 2
REPORT OF INDEPENDENT ACCOUNTANTS
THE BOARD OF DIRECTORS OF
KEMPER INVESTORS LIFE INSURANCE COMPANY AND CONTRACT OWNERS
OF VARIABLE ANNUITY ACCOUNT C
In our opinion, the accompanying combined statements of assets and liabilities
and contract owners' equity and the related combined statements of operations
and statements of changes in contract owners' equity present fairly, in all
material respects, the financial position of Kemper Investors Life Insurance
Company Variable Annuity Account C (the "Company") at December 31, 1998 and the
combined results of its operations for the year then ended and the combined
changes in its contract owners' equity for the years ended December 31, 1998 and
1997 in conformity with the generally accepted accounting principles. These
financial statements are the responsibility of the Company's management; our
responsibility is to express an opinion on these financial statements based on
our audits. We conducted our audits of these financial statements in accordance
with generally accepted auditing standards which require that we plan and
perform the audits to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates
made by management and evaluations of the overall financial statement
presentation. Our procedures included confirmation of portfolio shares owned at
December 31, 1998 by correspondence with the custodian. We believe that our
audits provide a reasonable basis for our opinion expressed above.
PRICEWATERHOUSECOOPERS LLP
February 19, 1999
1
<PAGE> 3
COMBINED FINANCIAL STATEMENTS
KEMPER INVESTORS LIFE INSURANCE COMPANY
VARIABLE ANNUITY ACCOUNT C
COMBINED STATEMENT OF ASSETS AND LIABILITIES
AND CONTRACT OWNERS' EQUITY
DECEMBER 31, 1998
(IN THOUSANDS)
<TABLE>
<CAPTION>
KEMPER
TOTAL RETURN
COMBINED FUND DIVISION
- --------------------------------------------------------------------------------------------
<S> <C> <C>
- --------------------------------------------------------------------------------------------
ASSETS
- --------------------------------------------------------------------------------------------
Investments, at current value $21,984 7,581
- --------------------------------------------------------------------------------------------
TOTAL ASSETS 21,984 7,581
- --------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------
LIABILITIES AND CONTRACT OWNERS' EQUITY
- --------------------------------------------------------------------------------------------
Liabilities:
Mortality and expense risk charges 18 6
Other 7 1
- --------------------------------------------------------------------------------------------
TOTAL LIABILITIES 25 7
- --------------------------------------------------------------------------------------------
Contract owners' equity $21,959 7,574
- --------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------
ANALYSIS OF CONTRACT OWNERS' EQUITY
- --------------------------------------------------------------------------------------------
Excess of payments for units redeemed over proceeds from
units sold $(70,774) (11,669)
Accumulated net investment income 87,436 15,950
Accumulated net realized gain (loss) on sales of investments 3,937 2,343
Unrealized appreciation (depreciation) of investments 1,360 950
- --------------------------------------------------------------------------------------------
Contract owners' equity $21,959 7,574
- --------------------------------------------------------------------------------------------
</TABLE>
See accompanying notes to combined financial statements.
2
<PAGE> 4
COMBINED FINANCIAL STATEMENTS
<TABLE>
<CAPTION>
KEMPER INCOME KEMPER KEMPER U.S.
KEMPER AND CAPITAL ZURICH KEMPER DIVERSIFIED GOVERNMENT
GROWTH PRESERVATION MONEY MARKET HIGH YIELD INCOME SECURITIES
FUND DIVISION FUND DIVISION FUND DIVISION FUND DIVISION FUND DIVISION FUND DIVISION
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
5,491 869 5,274 1,560 218 991
- -------------------------------------------------------------------------------------------------
5,491 869 5,274 1,560 218 991
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
5 1 4 1 -- 1
1 -- 5 -- -- --
- -------------------------------------------------------------------------------------------------
6 1 9 1 -- 1
- -------------------------------------------------------------------------------------------------
5,485 868 5,265 1,559 218 990
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
(7,658) (2,797) (38,716) (4,289) (446) (5,199)
10,780 3,504 43,981 5,820 1,435 5,966
1,935 122 -- 68 (745) 214
428 39 -- (40) (26) 9
- -------------------------------------------------------------------------------------------------
5,485 868 5,265 1,559 218 990
- -------------------------------------------------------------------------------------------------
</TABLE>
3
<PAGE> 5
COMBINED FINANCIAL STATEMENTS
KEMPER INVESTORS LIFE INSURANCE COMPANY
VARIABLE ANNUITY ACCOUNT C
COMBINED STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 1998
(IN THOUSANDS)
<TABLE>
<CAPTION>
KEMPER
TOTAL RETURN
COMBINED FUND DIVISION
- --------------------------------------------------------------------------------------------
<S> <C> <C>
- --------------------------------------------------------------------------------------------
============================================================================================
Dividend and capital gain distributions $1,260 665
- --------------------------------------------------------------------------------------------
Expenses:
Mortality and expense risk charges 207 78
Maintenance fee 10 3
- --------------------------------------------------------------------------------------------
Total expenses 217 81
- --------------------------------------------------------------------------------------------
Net investment income (loss) 1,043 584
- --------------------------------------------------------------------------------------------
Net realized and unrealized gain (loss) on investments:
Net realized gain (loss) on sales of investments 781 467
Change in unrealized appreciation (depreciation) of
investments 304 37
- --------------------------------------------------------------------------------------------
Net realized and unrealized gain (loss) on investments 1,085 504
- --------------------------------------------------------------------------------------------
NET INCREASE IN CONTRACT OWNERS' EQUITY RESULTING FROM
OPERATIONS $2,128 1,088
- --------------------------------------------------------------------------------------------
</TABLE>
See accompanying notes to combined financial statements.
4
<PAGE> 6
COMBINED FINANCIAL STATEMENTS
<TABLE>
<CAPTION>
KEMPER
INCOME AND KEMPER KEMPER U.S.
KEMPER CAPITAL ZURICH KEMPER DIVERSIFIED GOVERNMENT
GROWTH PRESERVATION MONEY MARKET HIGH YIELD INCOME SECURITIES
FUND DIVISION FUND DIVISION FUND DIVISION FUND DIVISION FUND DIVISION FUND DIVISION
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
- -------------------------------------------------------------------------------------------------
=================================================================================================
23 53 271 164 18 66
- -------------------------------------------------------------------------------------------------
59 9 37 17 2 5
2 -- 4 1 -- --
- -------------------------------------------------------------------------------------------------
61 9 41 18 2 5
- -------------------------------------------------------------------------------------------------
(38) 44 230 146 16 61
- -------------------------------------------------------------------------------------------------
269 4 -- 41 (2) 2
442 8 -- (176) (8) 1
- -------------------------------------------------------------------------------------------------
711 12 -- (135) (10) 3
- -------------------------------------------------------------------------------------------------
673 56 230 11 6 64
- -------------------------------------------------------------------------------------------------
</TABLE>
5
<PAGE> 7
COMBINED FINANCIAL STATEMENTS
KEMPER INVESTORS LIFE INSURANCE COMPANY
VARIABLE ANNUITY ACCOUNT C
COMBINED STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY
FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997
(IN THOUSANDS)
<TABLE>
<CAPTION>
COMBINED
------------------------------
1998 1997
- --------------------------------------------------------------------------------------------
<S> <C> <C>
- --------------------------------------------------------------------------------------------
OPERATIONS
- --------------------------------------------------------------------------------------------
Net investment income $ 1,043 2,437
Net realized gain (loss) on sales of investments 781 937
Change in unrealized appreciation (depreciation) of
investments 304 (548)
- --------------------------------------------------------------------------------------------
Net increase in contract owners' equity resulting from
operations 2,128 2,826
- --------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------
ACCOUNT UNIT TRANSACTIONS
- --------------------------------------------------------------------------------------------
Proceeds from units sold 117 282
Net transfers (to) from affiliate or divisions 74 89
Payments for units redeemed (3,341) (5,179)
- --------------------------------------------------------------------------------------------
Net decrease in contract owners' equity from account
unit transactions (3,150) (4,808)
- --------------------------------------------------------------------------------------------
Total increase (decrease) in contract owners' equity (1,022) (1,982)
- --------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------
CONTRACT OWNERS' EQUITY
- --------------------------------------------------------------------------------------------
Beginning of period 22,981 24,963
- --------------------------------------------------------------------------------------------
End of period $21,959 22,981
- --------------------------------------------------------------------------------------------
</TABLE>
COMBINED STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY
(CONTINUED)
<TABLE>
<CAPTION>
ZURICH MONEY MARKET
FUND DIVISION
-----------------------------
1998 1997
- ---------------------------------------------------------------------------------------------
<S> <C> <C>
- --------------------------------------------------------------------------------------------
OPERATIONS
- ---------------------------------------------------------------------------------------------
Net investment income $ 230 216
Net realized gain (loss) on sales of investments -- --
Change in unrealized appreciation (depreciation) of
investments -- --
- ---------------------------------------------------------------------------------------------
Net increase in contract owners' equity resulting from
operations 230 216
- ---------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------
ACCOUNT UNIT TRANSACTIONS
- ---------------------------------------------------------------------------------------------
Proceeds from units sold 22 130
Net transfers (to) from affiliate or divisions 459 (70)
Payments for units redeemed (667) (877)
- ---------------------------------------------------------------------------------------------
Net decrease in contract owners' equity from account
unit transactions (186) (817)
- ---------------------------------------------------------------------------------------------
Total increase (decrease) in contract owners' equity 44 (601)
- ---------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------
CONTRACT OWNERS' EQUITY
- ---------------------------------------------------------------------------------------------
Beginning of period 5,221 5,822
- ---------------------------------------------------------------------------------------------
End of period $5,265 5,221
- ---------------------------------------------------------------------------------------------
</TABLE>
See accompanying notes to combined financial statements.
6
<PAGE> 8
COMBINED FINANCIAL STATEMENTS
<TABLE>
<CAPTION>
KEMPER TOTAL RETURN KEMPER GROWTH KEMPER INCOME AND CAPITAL
FUND DIVISION FUND DIVISION PRESERVATION FUND DIVISION
- ------------------- -------------- --------------------------
1998 1997 1998 1997 1998 1997
- -----------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
- -----------------------------------------------------------------
=================================================================
584 1,213 (38) 715 44 57
467 499 269 406 4 13
37 (332) 442 (259) 8 2
- -----------------------------------------------------------------
1,088 1,380 673 862 56 72
- -----------------------------------------------------------------
- -----------------------------------------------------------------
- -----------------------------------------------------------------
- -----------------------------------------------------------------
50 63 32 59 1 2
(194) (105) 24 452 (15) (103)
(1,377) (1,650) (861) (1,646) (55) (205)
- -----------------------------------------------------------------
(1,521) (1,692) (805) (1,135) (69) (306)
- -----------------------------------------------------------------
(433) (312) (132) (273) (13) (234)
- -----------------------------------------------------------------
- -----------------------------------------------------------------
- -----------------------------------------------------------------
8,007 8,319 5,617 5,890 881 1,115
- -----------------------------------------------------------------
7,574 8,007 5,485 5,617 868 881
- -----------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
KEMPER HIGH YIELD KEMPER DIVERSIFIED INCOME KEMPER U.S. GOVERNMENT
FUND DIVISION FUND DIVISION SECURITIES FUND DIVISION
- ----------------- ------------------------- ------------------------
1998 1997 1998 1997 1998 1997
- ------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------
146 151 16 14 61 71
41 28 (2) (2) 2 (7)
(176) 16 (8) 3 1 22
- ------------------------------------------------------------------------
11 195 6 15 64 86
- ------------------------------------------------------------------------
- ------------------------------------------------------------------------
- ------------------------------------------------------------------------
15 14 -- 7 (3) 7
(189) 16 -- -- (11) (101)
(253) (211) (9) (18) (119) (572)
- ------------------------------------------------------------------------
(427) (181) (9) (11) (133) (666)
- ------------------------------------------------------------------------
(416) 14 (3) 4 (69) (580)
- ------------------------------------------------------------------------
- ------------------------------------------------------------------------
- ------------------------------------------------------------------------
1,975 1,961 221 217 1,059 1,639
- ------------------------------------------------------------------------
1,559 1,975 218 221 990 1,059
- ------------------------------------------------------------------------
</TABLE>
7
<PAGE> 9
NOTES TO COMBINED FINANCIAL STATEMENTS
KEMPER INVESTORS LIFE INSURANCE COMPANY
VARIABLE ANNUITY ACCOUNT C
- --------------------------------------------------------------------------------
1 GENERAL INFORMATION ORGANIZATION. Kemper Investors Life Insurance
AND SIGNIFICANT Company Variable Annuity Account C (the "Separate
ACCOUNTING POLICIES Account") is a unit investment trust registered
under the Investment Company Act of 1940, as
amended, established by Kemper Investors Life
Insurance Company ("KILICO"). KILICO is a
wholly-owned subsidiary of Zurich Financial
Services ("ZFS"). ZFS was formed with the September
7, 1998 merger of the Zurich Group with the
financial services business of B.A.T. Industries.
ZFS is owned by Zurich Allied AG and Allied Zurich
p.l.c., fifty-seven percent and forty-three
percent, respectively. Zurich Allied AG,
representing the financial interest of the former
Zurich Group, is listed on the Swiss Market Index
(SMI) replacing Zurich. Allied Zurich p.l.c.,
representing the financial interest of the
financial services business of B.A.T. Industries,
is included in the FTSE-100 Share Index in London.
The Separate Account is divided into seven
subaccounts and each subaccount invests exclusively
in a corresponding Kemper or Zurich Fund ("Fund").
Each Fund is an open-end diversified management
investment company.
ESTIMATES. The preparation of financial statements
in conformity with generally accepted accounting
principles requires management to make estimates
and assumptions that could affect the reported
amounts of assets and liabilities as well as the
disclosure of contingent amounts at the date of the
financial statements. As a result, actual results
reported as income and expenses could differ from
the estimates reported in the accompanying
financial statements.
SECURITY VALUATION. The investments are stated at
current value which is based on the closing bid
price, net asset value, at December 31, 1998.
SECURITY TRANSACTIONS AND INVESTMENT INCOME.
Security transactions are accounted for on the
trade date (the date the order to buy or sell is
executed). Dividends and capital gains
distributions are recorded as income on the ex-
dividend date. Realized gains and losses from
security transactions are reported on a first in,
first out ("FIFO") cost basis.
ACCUMULATION UNIT VALUATION. On each day the New
York Stock Exchange (the "Exchange") is open for
trading, the accumulation unit value is determined
as of the earlier of 3:00 p.m. (Chicago time) or
the close of the Exchange by dividing the total
value of each Fund's investments and other assets,
less liabilities, by the number of accumulation
units outstanding in the respective Fund.
FEDERAL INCOME TAXES. Under Revenue Ruling 81-225,
the contract owner is treated as the owner of the
underlying Fund shares with respect to purchase
payments made after December 31, 1980, except in
the case of individual retirement annuities, tax
sheltered 403(b) annuities and annuities under a
qualified 403(a) retirement plan issued before
September 26, 1981 ("Qualified Contracts").
With respect to purchase payments made before
January 1, 1981, and Qualified Contracts, KILICO is
treated as the owner of the underlying Fund shares
and the contract owner is treated as the owner of
an annuity contract for all Federal income tax
purposes. Under current law, dividends and realized
gains attributable to Fund shares considered owned
by KILICO are not currently taxed to the extent
they are applied to liabilities under the contract.
The Tax Reform Act of 1984 authorized the Secretary
of the Treasury to prescribe diversification
requirements for the investments underlying a
variable annuity contract. The final regulation
issued March 1, 1989, provided that such
diversification requirements do not apply to
Qualified Contracts or purchase payments before
January 1, 1981.
8
<PAGE> 10
NOTES TO COMBINED FINANCIAL STATEMENTS
- --------------------------------------------------------------------------------
2 SUMMARY Investments, at cost, at December 31, 1998, are as
OF INVESTMENTS follows (in thousands):
<TABLE>
<CAPTION>
SHARES
OWNED COST
-----------------------------------------------------------------------
<S> <C> <C>
-----------------------------------------------------------------------
INVESTMENTS
-----------------------------------------------------------------------
Kemper Total Return Fund 709 $ 6,631
Kemper Growth Fund 369 5,063
Kemper Income and Capital Preservation Fund 100 830
Zurich Money Market Fund 5,274 5,274
Kemper High Yield Fund 201 1,600
Kemper Diversified Income Fund 38 244
Kemper U.S. Government Securities Fund 113 982
-----------------------------------------------------------------------
TOTAL INVESTMENTS $20,624
-----------------------------------------------------------------------
</TABLE>
The underlying investments of the Funds are
summarized below.
KEMPER TOTAL RETURN FUND: This Fund invests in
fixed-income securities (bonds and other debt
securities) and equity securities (stocks). The
Fund also may invest a small portion of its assets
in put and call options, purchase and sell
financial futures contracts and options thereon,
invest in foreign securities, engage in related
foreign currency transactions and lend its
securities.
KEMPER GROWTH FUND: This Fund invests primarily in
common stocks but can invest in any security with
potential for capital growth. The Fund may also
invest a small portion of its assets in put and
call options, purchase and sell financial futures
contracts and options thereon, invest in foreign
securities, engage in foreign currency transactions
and lend its securities.
KEMPER INCOME AND CAPITAL PRESERVATION FUND: This
Fund invests primarily in investment-grade debt
securities including corporate bonds, United States
or Canadian Government securities, commercial paper
and money market instruments. The Fund may also
purchase and sell put and call options and
financial futures and options thereon, invest in
foreign securities and engage in related foreign
currency transactions.
ZURICH MONEY MARKET FUND: This Fund invests
primarily in short-term obligations of major banks
and corporations.
KEMPER HIGH YIELD FUND: This Fund invests in
fixed-income securities. The Fund may also sell put
and call options and financial futures contracts
and options thereon, invest in foreign securities
and engage in related foreign currency
transactions. The Fund invests a substantial
portion of its net assets in high yielding
fixed-income securities. These securities will
ordinarily be in the lower rating categories of
recognized rating agencies or will be non-rated,
and generally will involve more risk than
securities in the higher rating categories.
CONTINUED
9
<PAGE> 11
NOTES TO COMBINED FINANCIAL STATEMENTS
KEMPER DIVERSIFIED INCOME FUND: This Fund invests
primarily in fixed-income securities and dividend
paying common stocks and by writing options. The
Fund invests a substantial portion of its assets in
high yield bonds. These bonds ordinarily are in the
lower rating categories of recognized rating
agencies or are non-rated, and thus involve more
risk than higher rated bonds. The Fund may also
invest a small portion of its assets in put and
call options, purchase and sell financial futures
contracts and options thereon, invest in foreign
securities, engage in foreign currency and delayed
delivery transactions and lend its securities.
KEMPER U.S. GOVERNMENT SECURITIES FUND: This Fund
invests in obligations issued or guaranteed by the
U.S. Government or its agencies.
- --------------------------------------------------------------------------------
3 TRANSACTIONS WITH KILICO assumes the mortality risks associated with
AFFILIATES the annuity contracts and incurs all expenses
involved in administering the contracts. In return,
KILICO assesses a daily charge based on assets for
mortality and expense risk which amounts to an
aggregate of one percent (1.00%) per annum.
Additionally, KILICO assesses against each contract
participating in the Separate Account a records
maintenance charge of $25 on December 31st of each
calendar year whether or not any purchase payments
have been made during the year.
Proceeds payable on the redemption of units are
reduced by the amount of any applicable contingent
deferred sales charge.
Scudder Kemper Investments, Inc., an affiliated
company, is the investment manager of the Funds
which serve as the underlying investments of the
Separate Account.
Investors Brokerage Services, Inc., a wholly-owned
subsidiary of KILICO, is the principal underwriter
for the Separate Account.
- --------------------------------------------------------------------------------
4 NET TRANSFERS (TO) Net transfers (to) from affiliate or divisions
FROM AFFILIATE OR include transfers of all or part of the contract
DIVISIONS owner's interest to or from another Fund or to the
general account of KILICO.
- --------------------------------------------------------------------------------
5 CONTRACT OWNERS' The contract owners' equity is affected by the
EQUITY investment results of each Fund and contract
charges. The accompanying combined financial
statements include only contract owners' payments
pertaining to the variable portions of their
contracts and exclude any payments for the fixed
portion, the latter being included in the general
account of KILICO. Contract owners may elect to
annuitize the contract under one of several annuity
options, as specified in the prospectus.
10
<PAGE> 12
NOTES TO COMBINED FINANCIAL STATEMENTS
Contract owners' equity at December 31, 1998, is as
follows (in thousands, except unit value;
differences are due to rounding):
<TABLE>
<CAPTION>
CONTRACT
NUMBER UNIT OWNERS'
SEPARATE ACCOUNT FUND DIVISION OF UNITS VALUE EQUITY
------------------------------------------------------------------------------
<S> <C> <C> <C>
-----------------------------------------------------------------------------
KEMPER TOTAL RETURN FUND
-----------------------------------------------------------------------------
Qualified 996 $7.562 $ 7,530
Nonqualified 6 7.567 44
------------------------------------------------------------------------------
7,574
------------------------------------------------------------------------------
------------------------------------------------------------------------------
KEMPER GROWTH FUND
------------------------------------------------------------------------------
Qualified 613 8.777 5,380
Nonqualified 12 8.754 105
------------------------------------------------------------------------------
5,485
------------------------------------------------------------------------------
------------------------------------------------------------------------------
KEMPER INCOME AND CAPITAL PRESERVATION FUND
------------------------------------------------------------------------------
Qualified 168 5.182 868
------------------------------------------------------------------------------
------------------------------------------------------------------------------
ZURICH MONEY MARKET FUND
------------------------------------------------------------------------------
Qualified 1,579 3.138 4,954
------------------------------------------------------------------------------
Nonqualified 99 3.138 311
------------------------------------------------------------------------------
5,265
------------------------------------------------------------------------------
------------------------------------------------------------------------------
KEMPER HIGH YIELD FUND
------------------------------------------------------------------------------
Qualified 230 6.217 1,431
Nonqualified 20 6.380 128
------------------------------------------------------------------------------
1,559
------------------------------------------------------------------------------
------------------------------------------------------------------------------
KEMPER DIVERSIFIED INCOME FUND
------------------------------------------------------------------------------
Qualified 63 3.469 218
------------------------------------------------------------------------------
------------------------------------------------------------------------------
KEMPER U.S. GOVERNMENT SECURITIES FUND
------------------------------------------------------------------------------
Qualified 194 4.595 893
Nonqualified 20 4.775 97
------------------------------------------------------------------------------
990
------------------------------------------------------------------------------
TOTAL CONTRACT OWNERS' EQUITY $21,959
------------------------------------------------------------------------------
</TABLE>
11
<PAGE> 13
NOTES
12
<PAGE> 14
NOTES
13
<PAGE> 15
Distributed by
Investors Brokerage Services, Inc.
Kemper Investors Life Insurance Company
1 Kemper Drive
[KEMPER LOGO] Long Grove, IL 60049
[RECYCLED LOGO]
Policy Form Series L-5672, L-5454 & L-5797 PRINTED ON RECYCLED PAPER. L-5759
(2/99)1042
