WRL FREEDOM WEALTH PROTECTOR(R)
SUPPLEMENT DATED JUNE 30, 1999
TO
PROSPECTUS DATED MAY 1, 1999
THE FOLLOWING INFORMATION REPLACES THE FIRST SIX PARAGRAPHS, IN THEIR ENTIRETY,
UNDER THE SECTION "THE POLICY - WHEN INSURANCE COVERAGE TAKES EFFECT" ON PAGES
19 AND 20 OF THE PROSPECTUS:
WHEN INSURANCE COVERAGE TAKES EFFECT
Insurance coverage under the Policy will take effect only if the
insured(s) is alive and in the same condition of health as described in the
application when the Policy is delivered to the owner, and if the initial
premium is paid.
CONDITIONAL INSURANCE COVERAGE. If you pay the full initial premium
listed in the conditional receipt attached to the application, and we deliver
the conditional receipt to you, you will have conditional insurance coverage
under the terms of the conditional receipt. Conditional insurance coverage is
void if the check or draft you gave us to pay the initial premium is not honored
when we first present it for payment.
THE AMOUNT OF CONDITIONAL o the specified amount applied for; or
INSURANCE COVERAGE IS THE o $300,000
LESSER OF: reduced by all amounts payable under all life
insurance applications that the insured has
pending with us.
CONDITIONAL LIFE INSURANCE o the date of your application; or
COVERAGE BEGINS ON THE o the date the insured completes all of
LATER OF: the medical tests and examinations
that we require; or
o the date of issue, if any, requested
in the application.
CONDITIONAL LIFE INSURANCE o the date we determine the insured has
COVERAGE TERMINATES satisfied our underwriting
AUTOMATICALLY ON THE requirements and the insurance applied
EARLIEST OF: for takes effect (the Policy date); or
o 60 days from the date the application
was completed; or
o the date we determine that any person
proposed for insurance in the
application is not insurable according
to our rules, limits and standards for
the plan, amount and rate class shown
in the application; or
o the date we modify the plan, amount,
riders and/or the premium rate class
shown in the application, or any
supplemental agreements; or
o the date we mail notice of the ending
of coverage and we refund the first
premium to the applicant at the
address shown on the application.
SPECIAL LIMITATIONS OF o the conditional receipt will be VOID:
THE CONDITIONAL RECEIPT: o -> if not signed by an authorized
agent of Western Reserve; or
-> in the event the application
contains any fraud or material
misrepresentation; or
-> if, on the date of the
conditional receipt, the proposed
insured is under 15 days of age
or over 80 years of age.
o the conditional receipt does not
provide benefits for disability and
accidental death benefits.
o the conditional receipt does not
provide benefits if any proposed
insured commits suicide. In this case,
Western Reserve's liability will be
limited to return of the first premium
paid with the application.
