<PAGE> PAGE 1
000 A000000 06/30/99
000 C000000 0000038749
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 FRANKLIN LIFE VARIABLE ANNUITY FUND B
001 B000000 811-2110
001 C000000 2175282011
002 A000000 #1 FRANKLIN SQUARE
002 B000000 SPRINGFIELD
002 C000000 IL
002 D010000 62713
002 D020000 0001
003 000000 N
004 000000 Y
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 THE FRANKLIN LIFE INSURANCE COMPANY
008 B000001 A
008 C000001 801-8076
008 D010001 SPRINGFIELD
008 D020001 IL
008 D030001 62713
008 D040001 0001
010 A000001 THE FRANKLIN LIFE INSURANCE COMPANY
010 B000001 801-8076
010 C010001 SPRINGFIELD
010 C020001 IL
010 C030001 62713
010 C040001 0001
011 A000001 FRANKLIN FINANCIAL SERVICES CORPORATION
011 B000001 8-15847
011 C010001 SPRINGFIELD
011 C020001 IL
011 C030001 62713
<PAGE> PAGE 2
011 C040001 0001
013 A000001 ERNST & YOUNG, LLP
013 B010001 CHICAGO
013 B020001 IL
013 B030001 60606
013 B040001 6301
014 A000001 FRANKLIN FINANCIAL SERVICES CORPORATION
014 B000001 8-15847
015 A000001 STATE STREET BANK & TRUST COMPANY
015 B000001 C
015 C010001 WHEATON
015 C020001 IL
015 C030001 60187
015 C040001 5267
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 3
019 C000000 FLICVARFUN
020 A000001 SMITH BARNEY, INC.
020 B000001 13-1912900
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 SMITH BARNEY, INC.
022 B000001 13-1912900
022 C000001 243
022 D000001 49
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022 C000003 0
022 D000003 0
022 C000004 0
022 D000004 0
022 C000005 0
022 D000005 0
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
<PAGE> PAGE 3
022 D000009 0
022 C000010 0
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023 C000000 243
023 D000000 49
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025 D000003 0
025 D000004 0
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026 B000000 N
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026 D000000 Y
026 E000000 N
026 F000000 N
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026 H000000 N
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028 B040000 42
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<PAGE> PAGE 4
028 G040000 90
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048 H010000 0
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<PAGE> PAGE 5
048 K010000 0
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049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 Y
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053 C000000 N
054 A000000 Y
054 B000000 Y
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054 D000000 Y
054 E000000 Y
054 F000000 Y
054 G000000 Y
054 H000000 Y
054 I000000 Y
054 J000000 Y
054 K000000 Y
054 L000000 Y
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054 O000000 N
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056 000000 N
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058 A000000 Y
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062 F000000 0.0
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062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
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<PAGE> PAGE 6
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
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066 C000000 N
066 D000000 Y
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 N
070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 N
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
<PAGE> PAGE 7
070 R010000 N
070 R020000 N
071 A000000 0
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071 C000000 1850
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072 D000000 0
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072 G000000 6
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072 I000000 0
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072 O000000 0
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072 Q000000 0
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072 T000000 0
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072 V000000 0
072 W000000 0
072 X000000 9
072 Y000000 0
072 Z000000 -2
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073 C000000 0.0000
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<PAGE> PAGE 8
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 0
074 M000000 0
074 N000000 0
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082 B000000 0
083 B000000 0
084 B000000 0
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086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE ELIZABETH ARTHUR
TITLE SECRETARY
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM REGISTRANT'S
FORM N-SAR FOR THE SIX-MONTH PERIOD ENDING 6-30-99 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 0
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9
<AVERAGE-NET-ASSETS> 1413
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
</TABLE>
<PAGE>
(Fund B)
ATTACHMENT 77C
MATTER SUBMITTED TO VOTE OF CONTRACT OWNERS
A special meeting of Contract Owners of the Fund was held on April 8, 1999. At
the meeting, an Agreement and Plan of Reorganization was approved whereby,
effective April 30, 1999, Franklin Life Variable Annuity Fund A (1) was renamed
Franklin Life Variable Annuity Fund and restructured as a unit investment trust
comprising three divisions and (2) was combined with Franklin Life Variable
Annuity Fund B and Franklin Life Money Market Variable Annuity Fund C. The
number of votes case for and against, as well as the number of abstentions, is
set forth in the table below.
<TABLE>
<CAPTION>
VOTES:
FOR AGAINST ABSTAIN
----- ------- -------
<S> <C> <C>
6,410 542 201
</TABLE>
