MAXIM SERIES ACCOUNT OF GREAT WEST LIFE & ANNUITY INS CO
N-30D, 1998-09-03
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                   GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
                              Maxim Series Account
                          Semi-Annual Report Form N-30D
                          File No. 33-82610, 811-03249


The  information  required to be contained in this report for the period  ending
June 30, 1998  includes  the  attached  letter to contract  holders and the
following  previously  filed  annual  reports  for the  underlying  funds of the
above-referenced Registrant which incorporated herein by reference:




American Century Variable Portfolios, Inc.
File No. 811-05188
Form N-30D
Filed via EDGAR and accepted on August 26, 1998
Accession No. 0000814680-98-000011.

Maxim Series Fund, Inc.
File No. 811-03364
Form N-30D
Filed via EDGAR and accepted on August 24, 1998
Accession No. 0000356476-98-000016.




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