LIFE inVEST
Offered by
Charter National Life Insurance Company
through the
Charter National Variable Account
Supplement Dated August 20, 1999
to the
Prospectus Dated May 1, 1990
On July 1, 1999 Allstate Life Insurance Company announced that it had
purchased Charter National Life Insurance Company from Leucadia National
Corporation. As a result of this transaction, we have made the following changes
to your prospectus:
Modified the first sentence in the paragraph on page 6 under the heading
"Distribution of the Policy" to read:
The Policy will be distributed by registered representatives of CNL,
Inc. ("CNL"), a wholly owned subsidiary of Allstate Life Insurance
Company, which acts as the principal underwriter for the Policies, or
by registered representatives of broker-dealers who enter into sales
agreements with CNL.
Replaced the second and third paragraphs on page 7 under the heading "Charter
National Life Insurance Company" with:
On July 1, 1999, Charter became a wholly owned subsidiary of Allstate
Life Insurance Company ("Allstate"), a stock life insurance company
incorporated under the laws of Illinois. Charter was previously a
wholly owned subsidiary of Leucadia National Corporation ("Leucadia").
Allstate is a wholly owned subsidiary of Allstate Insurance Company, a
stock property-liability insurance company incorporated under the laws
of Illinois. The Allstate Corporation owns all of the outstanding
capital stock of Allstate Insurance Company.
CNL, Inc. ("CNL") is the principal underwriter of the Policies. On
September 2, 1998, Leucadia, then sole owner of all of the stock of
CNL, sold all of its CNL stock to Allstate.
Added the following disclosure to page 7 before the section entitled "The Fund":
Service Agreements with Allstate
On September 2, 1998, Charter and Allstate entered into an
administrative services agreement under which Allstate or an affiliate
will administer the Policies. Neither of these agreements will change
the fact that Charter is primarily liable to you under your Policies.
At this time, there have been no changes to the address or phone
numbers that you are currently using.
Modified the chart on page 29 entitled "Executive Officers and Directors of
Charter" to read:
Name Principal Occupations During Past Five Years
Louis G. Lower, II Chairman of the Board of Directors,
Charter National Life Insurance Company;
Chairman of the Board of Directors,
Allstate Life Insurance Company; Chairman of
the Board of Directors, Allstate Life Insurance
Company of New York; Chairman of
the Board and Chief Executive Officer, Glenbrook
Life and Annuity Company;
Chairman of the Board of Directors, Intramerica
Life Insurance Company; Chairman
of the Board and Chief Executive Officer,
Northbrook Life Insurance Company;
Senior Vice President, Allstate Insurance Company
Thomas J. Wilson, II President, Charter National Life
Insurance Company; President, Allstate Life
Insurance Company; President, Allstate Life
Insurance Company of New York; Vice Chairman,
Glenbrook Life and Annuity Company; President,
Intramerica Life Insurance Company; Vice
Chairman, Northbrook Life Insurance Company;
Senior Vice President, Allstate Insurance Company
Michael J. Velotta Vice President, Secretary and General Counsel,
Charter National Life Insurance
Company; Vice President, Secretary and General
Counsel, Allstate Life Insurance
Company; Vice President, Secretary and General
Counsel, Allstate Life Insurance
Company of New York; Vice President, Secretary
and General Counsel, Glenbrook
Life and Annuity Company; Vice President,
Secretary and General Counsel,
Intramerica Life Insurance Company; Vice
President, Secretary and General
Counsel, Northbrook Life Insurance Company;
Assistant Vice President, Allstate
Insurance Company
Marla G. Friedman Vice President, Charter National Life
Insurance Company; Vice President, Allstate Life
Insurance Company; Vice President, Allstate Life
Insurance Company of New York; Vice President,
Glenbrook Life and Annuity Company; Vice
President, Intramerica Life Insurance Company;
Vice President, Northbrook Life Insurance Company
Karen C. Gardner Vice President, Charter National Life
Insurance Company; Vice President, Allstate Life
Insurance Company; Vice President, Allstate Life
Insurance Company of New York; Vice President,
Glenbrook Life and Annuity Company; Vice
President, Intramerica Life Insurance Company;
Vice President, Northbrook Life Insurance
Company; Vice President, Allstate Insurance
Company
Peter H. Heckman Vice President, Charter National Life Insurance
Company; Vice President, Allstate
Life Insurance Company; Vice President,
Allstate Life Insurance Company of New
York; President and Chief Operating Officer,
Glenbrook Life and Annuity Company;
Vice President, Intramerica Life Insurance
Company; President and Chief Operating
Officer, Northbrook Life Insurance Company;
Vice President, Allstate Insurance
Company
John C. Lounds Vice President, Charter National Life Insurance
Company; Vice President, Allstate
Life Insurance Company
Thomas A. McAvity, Jr. Vice President, Charter National Life Insurance
Company; Vice President, Allstate
Life Insurance Company; Vice President,
Allstate Life Insurance Company of New
York; Vice President, Intramerica Life
Insurance Company
Mary J. McGinn Vice President and Assistant Secretary, Charter
National Life Insurance Company;
Vice President and Assistant Secretary, Allstate
Life Insurance Company;
Assistant Secretary, Allstate Life Insurance
Company of New York; Assistant
Secretary, Glenbrook Life and Annuity Company;
Assistant Secretary, Intramerica
Life Insurance Company; Assistant Secretary,
Northbrook Life Insurance Company;
Vice President, Assistant Secretary and
Assistant General Counsel, Allstate
Insurance Company
Kevin R. Slawin Vice President, Charter National Life
Insurance Company; Vice President, Allstate Life
Insurance Company; Vice President, Allstate Life
Insurance Company of New York; Vice President,
Glenbrook Life and Annuity Company; Vice
President, Intramerica Life Insurance Company;
Vice President, Northbrook Life Insurance Company
Charles F. Thalheimer Vice President, Charter National Life Insurance
Company; Vice President, Allstate
Life Insurance Company; Assistant Vice President,
Northbrook Life Insurance Company
Samuel H. Pilch Controller, Charter National Life
Insurance Company; Controller, Allstate Life
Insurance Company; Controller, Allstate Life
Insurance Company of New York; Controller,
Glenbrook Life and Annuity Company; Controller,
Intramerica Life Insurance Company; Controller,
Northbrook Insurance Company; Group Vice
President and Controller, Allstate Insurance
Company
Casey J. Sylla Chief Investment Officer, Charter National Life
Insurance Company; Chief Investment Officer,
Allstate Life Insurance Company; Chief
Investment Officer, Allstate Life Insurance
Company of New York; Chief Investment Officer,
Glenbrook Life and Annuity Company; Chief
Investment Officer, Intramerica Life Insurance
Company; Chief Investment Officer, Northbrook
Life Insurance Company; Senior Vice President
and Chief Investment Officer, Allstate Insurance
Company
James P. Zils Treasurer, Charter National Life
Insurance Company; Treasurer, Allstate Life
Insurance Company; Treasurer, Allstate Life
Insurance Company of New York; Treasurer,
Glenbrook Life and Annuity Company; Treasurer,
Intramerica Life Insurance Company; Treasurer,
Northbrook Life Insurance Company; Vice President
and Treasurer, Allstate Insurance Company
Emma M. Kalaidjian Assistant Secretary, Charter National Life
Insurance Company; Assistant Secretary,
Allstate Life Insurance Company; Assistant
Secretary, Allstate Life Insurance Company of
New York; Assistant Secretary, Glenbrook Life
and Annuity Company; Assistant Secretary,
Intramerica Life Insurance Company; Assistant
Secretary, Northbrook Life Insurance Company;
Assistant Vice President, Assistant Secretary,
and Assistant General Counsel, Allstate
Insurance Company
Nancy Bufalino Assistant Treasurer, Charter National
Life Insurance Company; Assistant Treasurer,
Allstate Life Insurance Company; Assistant
Treasurer, Allstate Life Insurance Company of New
York; Assistant Treasurer, Glenbrook Life and
Annuity Company; Assistant Treasurer, Intramerica
Life Insurance Company; Assistant Treasurer,
Northbrook Life Insurance Company
John R. Hunter Director, Charter National Life Insurance
Company; Assistant Vice President,
Allstate Life Insurance Company; Senior Vice
President, Glenbrook Life and Annuity Company;
Director, Intramerica Life Insurance Company;
Assistant Vice President, Northbrook Life
Insurance Company
Timothy N. Vander Pas Director, Charter National Life
Insurance Company; Assistant Vice President,
Allstate Life Insurance Company; Assistant Vice
President, Allstate Life Insurance Company of New
York; Assistant Vice President, Glenbrook Life
and Annuity Company; Director, Intramerica Life
Insurance Company; Assistant Vice President,
Northbrook Life Insurance Company
* * *
This Supplement must be read in conjunction with
the Prospectus for
the Charter National Variable Account dated May 1, 1990
