For period ending: 12/31/97
File Number: 811-4585
FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Report for six month period ending: / / (a)
__ __ __
or fiscal year ending: 12/31/97 (b)
__ __ __
Is this a transition report? (Y/N) N
Is this an amendment to a previous filing? (Y/N) N
Those items or sub-items with a box "[Z]" after the item number should be
completed only if the answer has changed from the previous filing on this
form.
1. A. Registrant Name: Minnesota Mutual Variable Life Account
B. File Number: 811-4585
C. Telephone Number: 612-665-7832
2. A. Street: 400 Robert Street North
B. City: St. Paul
C. State: Minnesota
D. Zip Code: 55101 Zip Ext: 2098
E. Foreign Country: Foreign Postal Code:
3. Is this the first filing on this form by Registrant? (Y/N) N
4. Is this the last filing on this form by Registrant? (Y/N) N
5. Is Registrant a small business investment company (SBIC)? (Y/N) N
[If answer is "Y" (Yes), complete only items 89 through 110.]
6. Is Registrant a unit investment trust (UIT)? (Y/N) Y
[If answer is "Y" (Yes), complete only items 111 through 132.]
7. A. Is Registrant a series or multiple portfolio company? (Y/N)
[If answer is "N" (No), go to item 8.]
B. How many separate series or portfolios did Registrant have at the
end of the period?
UNIT INVESTMENT TRUSTS
111. A. [Z] Depositor Name: The Minnesota Mutual Life Insurance Company
B. [Z] File Number (If any):
C. [Z] City: St. Paul State: MN Zip Code: 55101 Zip Ext: 2098
[Z] Foreign Country: Foreign Postal Code:
111. A. [Z] Depositor Name:
B. [Z] File Number (If any):
C. [Z] City: State: Zip Code: Zip Ext:
[Z] Foreign Country: Foreign Postal Code:
112. A. [Z] Sponsor Name: The Minnesota Mutual Life Insurance Company
B. [Z] File Number (If any):
C. [Z] City: St. Paul State: MN Zip Code: 55101 Zip Ext: 2098
[Z] Foreign Country: Foreign Postal Code:
112. A. [Z] Sponsor Name:
B. [Z] File Number (If any):
C. [Z] City: State: Zip Code: Zip Ext:
[Z] Foreign Country: Foreign Postal Code:
113. A. [Z] Trustee Name:
B. [Z] City: State: Zip Code: Zip Ext:
[Z] Foreign Country: Foreign Postal Code:
113. A. [Z] Trustee Name:
B. [Z] City: State: Zip Code: Zip Ext:
[Z] Foreign Country: Foreign Postal Code:
114. A. [Z] Principal Underwriter Name: Ascend Financial Services, Inc.
B. [Z] File Number: 8-31955
C. [Z] City: St. Paul State: MN Zip Code: 55101 Zip Ext:
[Z] Foreign Country: Foreign Postal Code:
114. A. [Z] Principal Underwriter Name:
B. [Z] File Number: 8-
C. [Z] City: State: Zip Code: Zip Ext:
[Z] Foreign Country: Foreign Postal Code:
115. A. [Z] Independent Public Accountant Name: KPMG Peat Marwick LLP
B. [Z] City: Minneapolis State: MN Zip Code: 55402 Zip Ext: 3900
[Z] Foreign Country: Foreign Postal Code:
115. A. [Z] Independent Public Accountant Name:
B. [Z] City: State: Zip Code: Zip Ext:
[Z] Foreign Country: Foreign Postal Code:
116. Family of investment companies information:
A. [Z] Is Registrant part of a family of investment
companies? (Y/N) Y
B. [Z] Identify the family in 10 letters: MIMLICFUND
(NOTE: In filing this form, use this identification
consistently for all investment companies in family. This
designation is for purposes of this form only.)
117. A. [Z] Is Registrant a separate account of an insurance
company? (Y/N) Y
If answer is "Y" (Yes), are any of the following types of contracts funded
by the Registrant:
B. [Z] Variable annuity contracts? (Y/N)
C. [Z] Schedule premium variable life contracts? (Y/N) Y
D. [Z] Flexible premium variable life contracts? (Y/N) Y
E. [Z] Other types of insurance products registered
under the Securities Act of 1933? (Y/N)
118. [Z] State the number of series existing at the end of the
period that had securities registered under the
Securities Act of 1933 1
119. [Z] State the number of new series for which registration
statements under the Securities Act of 1933 became
effective during the period 0
120. [Z] State the total value of the portfolio securities on
the date of deposit for the new series included in
Item 119 ($000's omitted) $ 0
_________
121. [Z] State the number of series for which a current
prospectus was in existence at the end of the period 1
122. [Z] State the number of existing series for which additional
units were registered under the Securities Act of
1933 during the current period 1
123. [Z] State the total value of the additional units
considered in answering item 122 ($000's omitted) $ 0
_________
124. [Z] State the total value of units of prior series
that were placed in the portfolios of subsequent
series during the current period (the value of
these units is to be measured on the date they
were placed in the subsequent series) ($000's
omitted) $ 0
_________
125. [Z] State the total dollar amount of sales loads
collected (before reallowances to other brokers
or dealers) by Registrant's principal underwriter
and any underwriter which is an affiliated person
of the principal underwriter during the current
period solely from the sale of units of all series
of Registrant ($000's omitted) $ 19,600
_________
126. Of the amount shown in item 125, state the total dollar
amount of sales loads collected from secondary market
operations in Registrant's units (include the sales loads,
if any, collected on units of a prior series placed in the
portfolio of a subsequent series) ($000's omitted) $ 0
_________
127. List opposite the appropriate description below the number
of series whose portfolios are invested primarily (based
upon a percentage of NAV) in each type of security shown,
the aggregate total assets at market value as of a date at
or near the end of the current period of each such group
of series and the total income distributions made by each
such group of series during the current period
(excluding distributions of realized gains, if any):
Number of Total Total
Series ($000's Distributions
Investing omitted) ($000's omitted)
A. U.S. Treasury direct use
_________ $________ $_________
B. U.S. Government agency
_________ $________ $_________
C. State and municipal tax-free
_________ $________ $_________
D. Public utility debt
_________ $________ $_________
E. Broker or dealers debt or debt of
brokers' or dealers' parent
_________ $________ $_________
F. All other corporate intermed. &
long-term debt
_________ $________ $_________
G. All other corporate short-term debt
_________ $________ $_________
H. Equity securities or brokers or
dealers or parents of brokers or
dealers
_________ $________ $_________
I. Investment company equity
securities 1 540,237 0
_________ $________ $_________
J. All other equity securities
_________ $________ $_________
K. Other securities
_________ $________ $_________
L. Total assets of all series of
Registrant 1 540,237 0
_________ $________ $_________
128. [Z] Is the timely payment of principal and interest
on any of the portfolio securities held by any
of Registrant's series at the end of the current
period insured or guaranteed by an entity other
than the insurer? (Y/N) N
[If answer is "N" (No), go to item 131.]
129. [Z] Is the issuer of any instrument covered in item 128
delinquent or in default as to payment of principal
or interest at the end of the current period?
(Y/N) N
[If answer is "N" (No), go to item 131.]
130. [Z] In computations of NAV or offering price per unit,
is any part of the value attributed to instruments
identified in item 129 derived from insurance
or guarantees? (Y/N) N
131. Total expenses incurred by all series of Registrants during
the current reporting period ($000's omitted) $ 2,245
_________
132. [Z] List the "811" (Investment Company Act of 1940) registration
number for all Series of Registrant that are being included
in this filing:
811-4585 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
This report is signed on behalf of the registrant in the City of
St. Paul on the 2nd day of March, 1998.
/s/Gregory S. Strong
______________________________
By: Gregory S. Strong
Senior Vice President and
Chief Financial Officer
The Minnesota Mutual Life
Insurance Company
/s/Donald F. Gruber
______________________________
Donald F. Gruber
Assistant General Counsel
The Minnesota Mutual Life
Insurance Company
