MONY VARIABLE ACCOUNT A
497, 1998-11-19
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<PAGE>   1



                                                                SUPPLEMENT DATED
                                                               NOVEMBER 16, 1998


                                  SUPPLEMENT TO

                          PROSPECTUS DATED MAY 1, 1998
              STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 1998

                                       FOR

                  THE MUTUAL LIFE INSURANCE COMPANY OF NEW YORK
                           MONYMASTER VARIABLE ANNUITY

                             MONY SERIES FUND, INC.
                          ENTERPRISE ACCUMULATION TRUST




         THIS SUPPLEMENT UPDATES CERTAIN INFORMATION CONTAINED IN THE PROSPECTUS
AND STATEMENT OF ADDITIONAL INFORMATION AND, TO THE EXTENT INCONSISTENT, IT
SUPERSEDES SUCH INFORMATION. YOU SHOULD ATTACH THIS SUPPLEMENT TO THE PROSPECTUS
AND THE STATEMENT OF ADDITIONAL INFORMATION AND RETAIN IT WITH THESE DOCUMENTS
FOR FUTURE REFERENCE.


         On November 16, 1998, The Mutual Life Insurance Company of New York, a
         mutual life insurance company organized under the laws of the State of
         New York in 1842, converted through demutualization to a stock life
         insurance company and at that time changed its name to MONY Life
         Insurance Company ("MONY"). In addition, MONY became a wholly-owned
         subsidiary of The MONY Group Inc. at that time. This conversion will
         not have any material effect on MONY Variable Account A or the
         Contracts.

         On and after November 16, 1998, references in the Prospectus and
         Statement of Additional Information to "The Mutual Life Insurance
         Company of New York" and "Mutual of New York" shall be deemed to refer
         to "MONY Life Insurance Company" and "MONY", respectively.


Form No.  13455 SL  (11/98)                                            33-37722
                                                                        2-95501
                                                                       33-21534








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