SUPPLEMENT TO
PHOENIX VARIABLE UNIVERSAL LIFE ACCOUNT
PROSPECTUS DATED MAY 1, 1996
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Under "Premium Taxes" on page 18, insert the following sentence before the last
sentence:
Multiple Life Policies will be taxed at the actual effective rate and
Single Life Policies will be taxed at an average rate of 2.25%.
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Under "Guaranteed Interest Account" on pages 8 and 69 and "Policy Loans" on page
13, replace the sentence that refers to interest credited on the loaned portion
of the Guaranteed Interest Account with the following:
The loaned portion of the Guaranteed Interest Account will be credited
with interest at an effective annual rate of 2% on Single Life Policies
(4% on Single Life Policies in New York), and 6% for Multiple Life
Policies.
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Under "Policy Loans" on page 13, paragraph seven, change the second and third
sentences to read:
For the first ten Policy Years or until the Policyowner reaches age 65,
whichever occurs first, the rate will be 4% on Single Life Policies (6%
on Single Life Policies in New York), and 8% on Multiple Life Policies.
The loan interest rate in subsequent years for Single Life Policies
will be 3% through the 15th Policy Year, then 2.5% thereafter (5%
through the 15th Policy Year, then 4.5% thereafter in New York.)
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OL2384 Supplement July 15, 1996
