Form N-SAR
ANNUAL and/or SEMI-ANNUAL REPORT (choose one)
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 "[/]" after the item number should be
completed only if the answer has changed from the previous filing on this
form.
1. A. Registrant Name: LBVIP Variable Insurance Account
B. File Number: 811-4602
C. Telephone number: (612) 340-7215
2. A. Street: 625 Fourth Avenue South
B. City: Minneapolis
C. State: MN
D. Zip Code: 55415 Zip Ext. 1672
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 98 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. [/] Depositor Name: Lutheran Brotherhood Variable Insurance
Products Company
B. [/] File Number (If any):_______________
C. [/] City: Minneapolis State: MN
Zip Code: 55415 Zip Ext.: 1672
[/] Foreign Country:________________ Foreign Postal Code:__________
111. A. [/] Depositor Name:_________________________________________________
B. [/] File Number (If any):_______________
C. [/] City:________________ State:___________
Zip Code:________ Zip Ext.:________
[/] Foreign Country:________________ Foreign Postal Code:__________
112. A. [/] Sponsor Name:___________________________________________________
B. [/] File Number (If any):_______________
C. [/] City:________________ State:___________
Zip Code:________ Zip Ext.:________
[/] Foreign Country:________________ Foreign Postal Code:__________
112. A. [/] Sponsor Name:___________________________________________________
B. [/] File Number (If any):_______________
C. [/] City:________________ State:___________
Zip Code:________ Zip Ext.:________
[/] Foreign Country:________________ Foreign Postal Code:__________
113. A. [/] Trustee Name:___________________________________________________
B. [/] City:________________ State:___________
Zip Code:________ Zip Ext.:________
[/] Foreign Country:________________ Foreign Postal Code:__________
113. A. [/] Trustee Name:___________________________________________________
B. [/] City:________________ State:___________
Zip Code:________ Zip Ext.:________
[/] Foreign Country:________________ Foreign Postal Code:__________
114. A. [/] Principal Underwriter Name: Lutheran Brotherhood Securities
Corp.
B. [/] File Number: 8-14893
C. [/] City: Minneapolis State: MN
Zip Code: 55415 Zip Ext.: 1672
[/] Foreign Country:________________ Foreign Postal Code:__________
114. A. [/] Principal Underwriter Name:_____________________________________
B. [/] File Number: 8-_________________
C. [/] City:________________ State:___________
Zip Code:________ Zip Ext.:________
[/] Foreign Country:________________ Foreign Postal Code:__________
115. A. [/] Independent Public Accountant Name: Price Waterhouse LLP
B. [/] City: Minneapolis State: MN
Zip Code: 55402 Zip Ext.: 3795
[/] Foreign Country:________________ Foreign Postal Code:__________
115. A. [/] Independent Public Accountant Name:_____________________________
B. [/] City:________________ State:___________
Zip Code:________ Zip Ext.:________
[/] Foreign Country:________________ Foreign Postal Code:__________
116. Family of investment companies information:
A. [/] Is Registrant part of a family of investment
companies? (Y/N) ................................... ___Y___
Y/N
B. [/] Identify the family in 10 letters: L B V I P V A R A C
(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. [/] Is Registrant a separate account of an insurance
company? (Y/N) ..................................... ___Y___
Y/N
If answer is "Y" (Yes), are any of the following types of contracts
funded by the Registrant?:
B. [/] Variable annuity contracts? (Y/N) ................... ___N___
Y/N
C. [/] Scheduled premium variable life contracts? (Y/N) .... ___N___
Y/N
D. [/] Flexible premium variable life contracts? (Y/N) ..... ___Y___
Y/N
E. [/] Other types of insurance products registered under
the Securities Act of 1933? (Y/N) ................... ___N___
Y/N
118. [/] State the number of series existing at the end of the
period that had securities registered under the Securities
Act of 1933 .............................................. ___1___
119. [/] State the number of new series for which registration
statements under the Securities Act of 1933 became
effective during the period .............................. ___0___
120. [/] 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. [/] State the number of series for which a current prospectus
was in existence at the end of the period ................ ___1___
122. [/] State the number of existing series for which additional
units were registered under the Securities Act of 1933
during the current period ................................ ___0___
123. [/] State the total value of the additional units considered
in answering item 122 ($000's omitted) ................... $__0___
124. [/] 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. [/] 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) ............. $3,351
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):
<TABLE>
<CAPTION>
Number of Total Income
Series Total Assets Distributions
Investing ($000's omitted) ($000's omitted)
_________ ________________ ________________
<S> <C> <C> <C>
A. U.S. Treasury direct issue................ _______ $__________ $__________
B. U.S. Government agency.................... _______ $__________ $__________
C. State and municipal tax-free.............. _______ $__________ $__________
D. Public utility debt....................... _______ $__________ $__________
E. Brokers 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 of brokers or dealers
or parents of brokers or dealers.......... _______ $__________ $__________
I. Investment company equity securities...... _______ $__________ $__________
J. All other equity securities............... _______ $169,991 $5,419
K. Other securities.......................... _______ $__________ $__________
L. Total assets of all series of registrant.. _______ $169,991 $__________
</TABLE>
128. [/] 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 issuer? (Y/N) ................... ___N___
Y/N
[If the answer is "N" (No), go to item 131.]
129. [/] 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) ......... _______
Y/N
[If the answer is "N" (No), go to item 131.]
130. [/] 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) ..... _______
Y/N
131. Total expenses incurred by all series of Registrant during the
current reporting period ($000's omitted) ..................... $911
132. [/] List the "811" (Investment Company Act of 1940) registration number
for all Series of Registrant that are being included in this filing:
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 Minneapolis
and the State of Minnesota on the 19th day of February, 1998.
LBVIP VARIABLE INSURANCE ACCOUNT
(Registrant)
By LUTHERAN BROTHERHOOD VARIABLE
INSURANCE PRODUCTS COMPANY
(Depositor)
By /s/ David J. Larson
------------------------------
David J. Larson
Vice President and Secretary
