U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24f-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
1. Name and Address of Issuer:
Investors Life Insurance Company of North America Separate
Account 1
701 Brazos Street
Austin, Texas 78701
2. Name of each series or class of funds for which this notice
is filed:
Not Applicable
3. Investment Company Act File Number: 811-3470
Securities Act File Numbers: 2-77712 and 2-84850
4. Last day of fiscal year for which this notice is filed:
December 31, 1997
5. Not Applicable
6. Not Applicable
7. Number and amount of securities of the same class or series
which had been registered under the Securities Act of 1933
other than pursuant to rule 24f-2 in a prior fiscal year, but
which remained unsold at the beginning of the fiscal year:
$0.00
8. Number and amount of securities registered during the fiscal
year other than pursuant to rule 24f-2: $0.00
9. Number and aggregate sale price of securities sold during the
fiscal year: $1,262,340
10. Number and aggregate sale price of securities sold during the
fiscal year in reliance upon registration pursuant to rule
24f-2: $1,262,340
11. Not Applicable
12. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the
fiscal year in reliance on rule 24f-2: $1,262,340
(ii) Not Applicable
(iii) Aggregate price of shares redeemed or repurchased during
the fiscal year: $9,272,924
(iv) Not Applicable
(v) Net aggregate price of securities sold and issued
during the fiscal year in reliance on rule 24f-2:
($8,010,584)
(vi) Not Applicable
(vii) Fee Due: $0.00
13. Not Applicable
SIGNATURES
This report has been signed below by the following persons on
behalf of the issuer and in the capacities and on the dates
indicated.
By: \s\ Roberta A. Mitchell
Title: Senior Vice President
Date: February 11, 1998
February 11, 1998
Mr. Roy F. Mitte
President and Chief Executive Officer
Investors Life Insurance Company of North America
701 Brazos Street
Austin, Texas 78701
Re: Investors Life Insurance Company of North America
Separate Account I
Dear Mr. Mitte:
This is written in connection with the filing of the Rule 24f-2
Notice for Investors Life Insurance Company of North America's
Separate Account I dated February 11, 1998, herewith (the "Notice")
under Section 24(f) of the Investment Company Act of 1940, as
amended. The Notice proposes to make definite the dollar amount of
such Separate Account's variable annuity contract interest (the
"Securities") registered under the Securities Act of 1933, as
amended (Registration No. 2-77712). I have been asked for my
opinion whether such securities have been legally issued, fully
paid and are nonassessable.
In my capacity as Senior Vice President and General Counsel of
Investors Life Insurance Company of North America, I have examined
such records and documents pertaining to variable annuity contracts
issued by Investors Life Insurance Company of North America and
funded through its Separate Account I, as well as applicable
Federal and State laws, as in my judgment are necessary and
appropriate to enable me to formulate the opinion sought. Based
upon the foregoing, it is my opinion that the Securities have been
legally issued, provided that their registration is made definite
in number by filing the Notice with the Securities and Exchange
Commission on or before June 30, 1998. The Securities are fully
paid and nonassessable.
Sincerely,
\s\ Theodore A. Fleron
Senior Vice President and General Counsel
