GREAT AMERICAN RESERVE INSURANCE COMPANY
GREAT AMERICAN RESERVE VARIABLE ANNUITY ACCOUNT C
SUPPLEMENT DATED OCTOBER 29, 1998 TO
PROSPECTUS DATED MAY 1, 1998
The following revises certain information contained in your individual variable
annuity prospectus:
1. Our name was changed from Great American Reserve Insurance Company to Conseco
Variable Insurance Company on October 7, 1998. In certain states, we may still
use the name Great American Reserve Insurance Company until our name change is
approved in that state.
2. Paragraph 1 of Footnote 6 to the Fee Table is replaced in its entirety with
the following footnote:
Certain expenses are being absorbed voluntarily by the investment
adviser. In the absence of such voluntary expense limitation, the other
expenses and total operating expenses for the fiscal period ended
December 31, 1997 would have been .34% and .94% for the INVESCO VIF -
High Yield Portfolio and .22% and .97% for the INVESCO VIF - Industrial
Income Portfolio. With respect to the INVESCO VIF - Industrial Income
Portfolio and the INVESCO VIF - High Yield Portfolio, certain fund
expenses are absorbed voluntarily by INVESCO Funds Group, Inc. (IFG)
pursuant to a commitment to limit the INVESCO VIF - Industrial Income
Portfolio's annual expenses to no more than .90% of the Fund's average
net assets prior to July 6, 1998 and to no more than 1.15% of the
Fund's average net assets effective July 6, 1998 and to limit the
INVESCO VIF- High Yield Portfolio's annual expenses to no more than
.80% of the Fund's average net assets prior to July 6, 1998 and to no
more than 1.05% of the Fund's average net assets effective July 6,
1998. The Fund reimburses IFG for its costs in providing, or assuring
that participating insurance companies provide, certain services in an
amount up to $10,000 per year (base fee), plus .015% of the net assets
of the Fund, plus, effective July 6, 1998, an additional .25% of gross
new assets (new sales of shares, exchanges into the Fund and
reinvestment of dividends and capital gains distributions) of the Fund
(incremental fees). IFG may pay all or a portion of the base fee and
the incremental fees to other companies that assist in providing the
services. If the additional 0.25% administrative services fee had been
charged during the fiscal year ended December 31, 1997, the Fund
estimates that "Other Expenses" and "Total Operating Expenses" would
have been .59% and 1.19%, respectively for the INVESCO VIF - High Yield
Portfolio and .47% and 1.22%, respectively, for the INVESCO VIF -
Industrial Income Portfolio.
