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Supplement to Accumulation Life(R) Prospectus
Supplement dated May 1, 2000
Prospectus dated April 30, 1998
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SAFECO SEPARATE ACCOUNT SL EXPENSE TABLE
PORTFOLIO EXPENSES Other Expenses
(as a percentage of average net assets) (after expense
Management reimbursement for Total Annual
Fees certain Portfolios
Portfolio Expenses
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Managed by SAFECO Asset Management Company (a)
RST Equity Portfolio 0.74% 0.02% 0.76%
RST Growth Opportunities Portfolio 0.74% 0.04% 0.78%
RST Northwest Portfolio 0.74% 0.10% 0.84%
RST Bond Portfolio 0.74% 0.17% 0.91%
Managed by Fidelity Management & Research Company (a)
(Initial Class shares only)
VIP Money Market Portfolio 0.18% 0.09% 0.27%
VIP High Income Portfolio 0.58% 0.11% 0.69%
VIP Equity-Income Portfolio (b) 0.48% 0.08% 0.56%
VIP Growth Portfolio (b) 0.58% 0.07% 0.65%
VIP Overseas Portfolio (b) 0.73% 0.14% 0.87%
VIP II Investment Grade Bond Portfolio 0.43% 0.11% 0.54%
VIP II Asset Manager Portfolio (b) 0.53% 0.09% 0.62%
VIP II Index 500 Portfolio 0.24% 0.04% 0.28%
VIP II Asset Manager: Growth Portfolio (b) 0.58% 0.12% 0.70%
VIP II Contrafund Portfolio (b) 0.58% 0.07% 0.65%
Managed by Lexington Management Corporation (a)
Lexington Natural Resources Trust 1.00% 0.33% 1.33%
Lexington Emerging Markets Fund, Inc. 0.85% 0.85% 1.70%
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(a) In some cases the fund advisers or other parties agree to waive or
reimburse all or a portion of the portfolio expenses. For those portfolios
where such an agreement exists, the expenses absent waiver or reimbursement
would have been .34% for the VIP II Index 500 Portfolio. See the portfolio
prospectuses for more detailed information. To the extent it performs
services for the fund, SAFECO Life may receive an asset based
administrative fee from the fund's advisor or distributor. In addition, we
have Fund Participation Agreements with each of the non-SAFECO fund
managers that describe the administrative practices and responsibilities of
the parties.
(b) A portion of the brokerage commissions that certain funds pay was used to
reduce fund expenses. In addition, through arrangements with certain
funds', or FMR on behalf of certain funds', custodian, credits realizes as
a result of uninvested cash balances were used to reduce a portion of each
applicable fund's expenses. Without these reductions, the total operating
expenses presented in the table .57% for the VIP Equity-Income Portfolio;
.66% for the VIP Growth Portfolio; .91% for VIP Overseas Portfolio; .63%
for the VIP II Asset Manager Portfolio; .71% for the VIP II Asset Manager:
Growth Portfolio; .67% for the VIP II Contrafund Portfolio.
The above portfolio expenses were provided by the portfolios. We have not
independently verified the accuracy of the information.
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Explanation of Expense Table
The purpose of the Expense Table is to show the various expenses you will incur
directly and indirectly by investing in the policy. Changes to the portfolio
expenses affect the results of Appendix B and C in your prospectus and any
previous supplements. Although we have chosen not to update Appendix B or C
here, they still generally show how expenses and charges affect your contract
value.
The disclosure set forth below is added to the information under the heading
"The Separate Account" found in the prospectus.
We reserve the right to combine the Separate Account with one or more of our
other separate accounts or to deregister the Separate Account under the 1940 Act
if such registration is no longer required.
The address of SAFECO Life Insurance Company has been changed to:
SAFECO Life Insurance Company
5069 154th Place NE
Redmond, WA 98052
