FUTUREFUNDS SERIES ACCOUNT OF GREAT WEST LIFE & ANN INS CO
497, 1997-09-17
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                                                   Rule 497(e)
                                                  File Nos. 2-89550
                                                            811-3972


                                            FUTUREFUNDS SERIES ACCOUNT
                                                        OF
                                    GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY

                                                September 18, 1997

On page 1 of the prospectus please insert the following:

Closing Investment Options

As of October 24, 1997, the Investment  Divisions listed below will be closed to
new contributions and transfers. Unless you designate otherwise prior to October
24, 1997, any assets in and future  contributions to these Investment  Divisions
will automatically be transferred to the designated default Investment  Division
on October  24th.  You may make changes to your account by calling  KeyTalksm at
1-800-701-8255,  calling  Client  Service at  1-800-488-8661,  or submitting the
requisite transfer or change form, applicable to your group plan.
<TABLE>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

========================================================================================================================
Closing Investment Division                                 Default Investment Division
- ------------------------------------------------------------------------------------------------------------------------
TCI Balanced (American Century VP Balanced)                 Maxim INVESCO Balanced Portfolio
- ------------------------------------------------------------------------------------------------------------------------
Maxim Total Return                                          Maxim INVESCO Balanced Portfolio
========================================================================================================================


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</TABLE>





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