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SUPPLEMENT DATED JANUARY 1, 1998 TO
PROSPECTUS DATED MAY 1, 1997 FOR
INDIVIDUAL MODIFIED SINGLE PREMIUM DEFERRED VARIABLE ANNUITY CONTRACTS
ISSUED BY
NATIONWIDE LIFE INSURANCE COMPANY
BY ITS
NATIONWIDE VARIABLE ACCOUNT - II
THIS SUPPLEMENT UPDATES CERTAIN INFORMATION CONTAINED IN YOUR PROSPECTUS.
PLEASE READ IT AND KEEP IT WITH YOUR PROSPECTUS FOR FUTURE REFERENCE.
1. THE FOLLOWING SENTENCE REPLACES THE FOURTH SENTENCE OF THE FIRST PARAGRAPH
LOCATED ON PAGE 1 OF THE PROSPECTUS:
The Contracts are sold either as Non-Qualified Contracts; as investment only
contracts issued to qualified pension, profit-sharing or stock bonus plans as
defined by Section 401(a) of the Internal Revenue Code of 1986, as amended (the
"Code"); Individual Retirement Annuities with contributions rolled-over or
transferred from certain tax-qualified plans such as Tax Sheltered Annuity
Plans, Qualified Plans or Individual Retirement Annuities; or as Tax Sheltered
Annuities with contributions rolled-over or transferred from other Tax
Sheltered Annuity Plans.
2. THE FOLLOWING INFORMATION REPLACES THE FIRST AND SECOND PARAGRAPHS OF THE
"SYNOPSIS" SECTION LOCATED ON PAGE 13 OF THE PROSPECTUS:
The following types of Contracts are described in this prospectus: (1)
Non-Qualified; (2) investment only contracts issued to qualified pension,
profit-sharing or stock bonus plans as defined by Section 401(a) of the Code;
(3) Individual Retirement Annuities, with contributions rolled-over or
transferred from certain tax-qualified plans such as Tax Sheltered Annuity
Plans, Qualified Plans or Individual Retirement Annuities; and (4) Tax
Sheltered Annuities, with contributions rolled-over or transferred from other
Tax Sheltered Annuities.
The initial first year Purchase Payment for Contracts issued as Non-Qualified
Contracts, Individual Retirement Annuities or Tax Sheltered Annuities must be
at least $15,000 and subsequent Purchase Payments, if any, must be at least
$1,000. In addition, any amounts allocated to the Guaranteed Term Option(s)
must be at least $1,000. Please refer to the prospectus for the Guaranteed Term
Option(s) for additional details regarding Purchase Payments made to the
Guaranteed Term Option(s). For investment only contracts issued to qualified
pension, profit-sharing or stock bonus plans as defined by Section 401(a) of
the Code, the initial Purchase Payment must be at least $100,000 and subsequent
Purchase Payments, if any, at least $15,000. Subsequent Purchase Payments for
any Contract described in this prospectus are not permitted for Contracts
issued in the states of New York, Oregon and Washington, and may not be
permitted in other states under certain circumstances. The cumulative total of
all Purchase Payments may not exceed $1,000,000 without the prior consent of
the Company (see "Allocation of Purchase Payments and Contract Value").
3. THE FOLLOWING INFORMATION REPLACES THE SECOND PARAGRAPH OF THE "ALLOCATION
OF PURCHASE PAYMENTS AND CONTRACT VALUE" PROVISION LOCATED ON PAGE 23 OF
THE PROSPECTUS:
The initial first year Purchase Payment for Contracts issued as Non-Qualified
Contracts, Individual Retirement Annuities or Tax Sheltered Annuities must be
at least $15,000 and subsequent Purchase Payments, if any, must be at least
$1,000. In addition, any amounts allocated to the Guaranteed Term Option(s)
must be at least $1,000. Please refer to the prospectus for the Guaranteed Term
Option(s) for additional details regarding Purchase Payments made to the
Guaranteed Term Option(s). For investment only contracts issued to qualified
pension, profit-sharing or stock bonus plans as defined by Section 401(a) of
the Code, the initial Purchase Payment must be at least $100,000 and subsequent
Purchase Payments, if any, at least $15,000. Subsequent Purchase Payments for
any type of Contract described in this prospectus, are not permitted for
Contracts issued in the states of New York, Oregon and Washington, and may not
be permitted in other states under certain circumstances. The cumulative total
of all Purchase Payments may not exceed $1,000,000 without the prior consent of
the Company.
4. THE INVESTMENT MANAGER FOR PORTFOLIOS LOCATED IN THE WARBURG PINCUS TRUST
(SEE PAGE 54 OF THE PROSPECTUS) HAS CHANGED ITS NAME FROM WARBURG, PINCUS
COUNSELLORS, INC. TO WARBURG PINCUS ASSET MANAGEMENT, INC., EFFECTIVE
OCTOBER 15, 1997.
