WM LIFE DEFERRED VARIABLE ANNUITY ACCOUNT
INDIVIDUAL FLEXIBLE PREMIUM DEFERRED VARIABLE ANNUITY CONTRACTS
SUPPLEMENT DATED JULY 14, 1997
TO THE PROSPECTUS DATED APRIL 30, 1997
This supplement contains amendments to the Prospectus for the WM Life
Deferred Variable Annuity Account. The amendments are incorporated into and
become a part of the Prospectus. This supplement accompanies the Prospectus and
should be read carefully along with the Prospectus.
1. Effective July 14, 1997, the principal distributor of the Contracts is
Composite Funds Distributor, Inc. ("CFDI"). CFDI is a direct subsidiary of
Washington Mutual, Inc. and is an affiliate of Washington Mutual Bank and
Washington Mutual, a Federal Savings Bank. CFDI is located at 601 West Main
Avenue, Suite 801, Spokane, Washington. CFDI is a member of the National
Association of Securities Dealers, and is registered with the Securities and
Exchange Commission as a broker/dealer.
2. The answer to question "7" in the Introduction section on page two of the
prospectus includes a chart entitled "Contract Owner Transaction Expenses". That
portion of the chart which describes the Contingent Deferred Sales Charge is
incorrect. The following is the correct description of the Contingent Deferred
Sales Charge.
Contingent Deferred Sales Charge
(as a % of purchase payments withdrawn)
Elapsed Time Since Issue Date
-----------------------------
Less than 3 years ........................7%
3 years, but less than 4 years............6%
4 years, but less than 5 years............5%
5 years, but less than 6 years............3%
6 years, but less than 7 years............1%
7 years or more...........................0%
Another chart describing the Contingent Deferred Sales Charge is included
on page eight of the prospectus. That chart is correct.
3. The following sentence should be added to the paragraph preceding the
chart on page eight:
For purposes of calculating the contingent deferred sales charge, all
purchase payments are deemed to be withdrawn before any earnings. Once
all purchase payments have been withdrawn, earnings can be withdrawn
without any contingent deferred sales charge.
