<PAGE> 1
IDEX II SERIES FUND
SUPPLEMENT DATED DECEMBER 4, 1995
TO PROSPECTUS DATED OCTOBER 1, 1995
PLEASE READ THIS SUPPLEMENT CAREFULLY AND RETAIN IT FOR FUTURE REFERENCE.
The following revised sales charge schedule replaces the schedule on
page 39 under the heading "PURCHASING CLASS A SHARES - SALES CHARGES" in its
entirety:
The public offering price of a Class A share is equal to the net asset
value per share plus a sales charge determined in accordance with the following
schedules:
AGGRESSIVE GROWTH PORTFOLIO
CAPITAL APPRECIATION PORTFOLIO
GLOBAL PORTFOLIO
GROWTH PORTFOLIO
EQUITY-INCOME PORTFOLIO
TACTICAL ASSET ALLOCATION PORTFOLIO
BALANCED PORTFOLIO
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<TABLE>
<CAPTION>
Sales Charge as Reallowance to Sales Charge
% of Offering Dealers as a % of as a % of
Amount of Purchase Price Offering Price Amount Invested
- ------------------ --------------- ----------------- ---------------
<S> <C> <C> <C>
Less than $50,000 . . . . . . . . . . . . . . 5.50% . . . . . . . . . . . . . . 4.75% . . . . . . . . . . . . .75%
$50,000 but less than $100,000 . . . . . . . 4.75% . . . . . . . . . . . . . . 4.00% . . . . . . . . . . . . .75%
$100,000 but less than $250,000 . . . . . . . 3.50% . . . . . . . . . . . . . . 2.75% . . . . . . . . . . . . .75%
$250,000 but less than $500,000 . . . . . . . 2.75% . . . . . . . . . . . . . . 2.25% . . . . . . . . . . . . .50%
$500,000 but less than $1,000,000 . . . . . . 2.00% . . . . . . . . . . . . . . 1.75% . . . . . . . . . . . . .25%
$1,000,000 or more . . . . . . . . . . . . . 0.00% . . . . . . . . . . . . . . 0.25%* . . . . . . . . . . . . .00%
</TABLE>
* This amount is not a charge incurred by shareholders. ISI, at its own
expense, may make such a payment in accordance with its procedures as
may be in effect from time to time. ISI's procedures currently
provide for a payment in the amount shown.
FLEXIBLE INCOME
INCOME PLUS
TAX-EXEMPT
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Sales Charge as Reallowance to Sales Charge
% of Offering Dealers as a % of as a % of
Amount of Purchase Price Offering Price Amount Invested
- ------------------ --------------- ----------------- ---------------
<S> <C> <C> <C>
Less than $50,000 . . . . . . . . . . . . . . 4.75% . . . . . . . . . . . . . . 4.00% . . . . . . . . . . . . .75%
$50,000 but less than $100,000 . . . . . . . 4.00% . . . . . . . . . . . . . . 3.25% . . . . . . . . . . . . .75%
$100,000 but less than $250,000 . . . . . . . 3.50% . . . . . . . . . . . . . . 2.75% . . . . . . . . . . . . .75%
$250,000 but less than $500,000 . . . . . . . 2.25% . . . . . . . . . . . . . . 1.75% . . . . . . . . . . . . .50%
$500,000 but less than $1,000,000 . . . . . . 1.25% . . . . . . . . . . . . . . 1.00% . . . . . . . . . . . . .25%
$1,000,000 or more . . . . . . . . . . . . . 0.00% . . . . . . . . . . . . . . 0.25%** . . . . . . . . . . . .00%
</TABLE>
** This amount is not a charge incurred by shareholders. ISI, at its own
expense, may make such a payment in accordance with its procedures as
may be in effect from time to time. ISI's procedures currently
provide for a payment in the amount shown.
