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NEW ENGLAND LIFE INSURANCE COMPANY
501 Boylston Street
Boston, Massachusetts 02116
(617) 578-2000
ZENITH EXECUTIVE ADVANTAGE 2000
Supplement dated October 27, 2000
To Prospectus dated May 1, 2000
The following changes have been made to the features of the Policy as
described in the May 1, 2000 prospectus. Please read this supplement and
retain it with your prospectus for reference.
1. Currently, the minimum face amount available is $10,000 unless we consent
to a lower amount. However, currently, Adjustable Term Insurance Rider
coverage CANNOT be included to meet our minimum size requirements.
2. We deduct a sales charge of 8% on each premium payment you make during a
Policy year. Currently, we reduce the charge to 1% of each premium payment you
make in excess of a Target Premium during a Policy year.
3. The monthly mortality and expense risk charge is currently equal to an
annual rate of 0.50% but is reduced to an annual rate of 0.25% after the 20th
policy year. This charge is guaranteed not to exceed 0.75% in all years.
4. You may borrow all or part of the Policy's "loan value" as described on
pages A-23 and A-24 of the prospectus. Currently, the Policy's loan value is
equal to 100% of the Policy's cash value. You should be aware that a borrowing
up to 100% of the Policy's cash value, could cause the Policy to lapse unless
sufficient premiums are paid to cover the next monthly deduction. A lapse may
result in adverse tax consequences. Please refer to "Tax Considerations" in
the prospectus.
5. The following paragraph replaces the third paragraph under "NELICO's
Distribution Agreement" on page A-33 of the Prospectus:
The selling agent may select one of two schedules for payment of commission
and/or service fees: (1) a maximum of 12.5% of the Target Premium paid in the
first Policy year, a maximum of 6.25% of the Target Premium paid in Policy
years two through ten, and a maximum of 2.25% thereafter; with a maximum
commission of .75% of each payment above the Target Premium paid in the first
Policy year (.60% thereafter); or (2) a maximum of 8% of the Target Premium
paid in the first Policy year, a maximum of 5.4% of the Target Premium paid in
the second through tenth Policy years, and a maximum of .75% thereafter; and,
beginning in the second Policy year, a maximum of .18% of the Policy's cash
value; with a maximum commission of .75% of each payment above the Target
Premium paid in the first Policy year (.60%) thereafter). Agents who meet
certain NELICO productivity and persistency standards may be eligible for
additional compensation. Agents may receive a portion of the general agent's
expense reimbursement allowance.
VL-152-00
