SUPPLEMENT DATED MAY 5, 2000
TO PROSPECTUS DATED MAY 1, 2000 FOR
- -----------------------------------------------------------------------------
MODIFIED SINGLE PREMIUM VARIABLE UNIVERSAL LIFE INSURANCE
POLICIES (SINGLE LIFE AND SURVIVORSHIP)
- -----------------------------------------------------------------------------
KEMPER DESTINATIONS LIFE
Issued By
KEMPER INVESTORS LIFE INSURANCE COMPANY
This Supplement describes variations that apply if you purchase your Policy in
the State of Florida. Policies issued in Florida are referred to as Modified
Premium Variable Universal Life Insurance Policies. In addition, Policies
issued in Florida have restrictions on the "no-lapse guarantee" feature under
the Policy. These changes are further described below with reference to those
parts of the Prospectus modified by this Supplement. Please read this
Supplement carefully and keep it with your Prospectus for future reference.
Policy Description
- ------------------
"Modified Premium" is substituted for "Modified Single Premium" wherever the
title of the Policy appears in the Prospectus.
No-Lapse Guarantee
- ------------------
1. The definition of "No-Lapse Guarantee" appearing on pages 3 and 4 of the
Prospectus is revised to read as follows:
"NO-LAPSE GUARANTEE - Our guarantee that, if you have no
outstanding Policy Debt, your Policy will not lapse prior
to the Guarantee Period Expiration Date shown on your
Policy's specifications page regardless of changes in the
Net Surrender Value.
The Guarantee Period Expiration Date is based on the
Insured's Issue Age determined from the following table:
The Guarantee Period Expiration Date
Applicable Falls on the Policy
*Issue Age Anniversary Date Next Following
---------- ------------------------------------
0-14 Insured's 55th Birthday
15-24 Insured's 65th Birthday
25-44 Insured's 70th Birthday
45-61 Insured's 75th Birthday
62-74 Insured's 80th Birthday
or 10 years after Issue,
whichever is later
<PAGE>
75-84 Insured's 85th Birthday
or 10 years after Issue,
whichever is later
85-90 No Guarantee Period Applies
* Based on the age of the Insured - Single
Life Policy
* Based on the age of the older Insured -
Survivorship Policy
If the Net Surrender Value becomes insufficient to
cover the monthly charges while the No-Lapse
Guarantee is in effect, your Policy will remain in
force, however, your Death Benefit will be reduced
to equal your total Premiums (less any prior
withdrawals of Premium). The No-Lapse Guarantee
is not available under all Policies and is not
available if your Policy covers an Insured whose
Issue Age is 85 or older."
2. The paragraph under "No-Lapse Guarantee" appearing on page 6 of the
Prospectus is revised to read as follows:
"Under our No-Lapse Guarantee, if you do not have
any outstanding Policy Debt, your Policy will
never lapse prior to the Guarantee Period Expiration
Date shown on your Policy's specifications page,
regardless of changes in the Net Surrender Value.
If your Policy would have otherwise lapsed prior to
the Guarantee Period Expiration Date, it will remain
in force until payment of the Death Benefit or the
Maturity Date, unless you voluntarily surrender your
Policy at an earlier date. If your Net Surrender
Value is insufficient to cover a Monthly Deduction
when due, we will give you a 61-day Grace Period to
pay additional Premium. If you do not pay sufficient
additional Premium and the Grace Period ends prior to
the Guarantee Period Expiration Date, at the end of
the Grace Period your Policy will stay in force but
the Death Benefit will be reduced to equal your
total Premium payments (less any prior partial
withdrawals of Premium). The No-Lapse Guarantee
applies to your Policy unless: (a) you paid 90% of
the Guideline Single Premium at issue for your
Policy; (b) your Policy has outstanding Policy Debt;
(c) your Policy covers an Insured whose Issue Age is
85 or older; or (d) the grace period ends on or
after your Guarantee Period Expiration Date."
3. The first sentence of the first paragraph under "No-Lapse Guarantee and
Grace Period" appearing on page 26 of the Prospectus is revised to read
as follows:
"Under our No-Lapse Guarantee, we guarantee that your
Policy will remain in force prior to the Guarantee
Period Expiration Date shown on your Policy's
specifications page regardless of changes in the Net
Surrender Value, provided you have no outstanding
Policy Debt."
<PAGE>
4. The last sentence of the third paragraph under "No-Lapse Guarantee and
Grace Period" appearing on page 26 of the Prospectus is revised to read
as follows:
"The No-Lapse Guarantee applies to your Policy unless:
(a) you paid 90% of the Guideline Single Premium for
your Policy; (b) your Policy has outstanding Policy
Debt; (c) your Policy covers an Insured whose Issue Age
is 85 or older; or (d) the grace period ends on or
after the Guarantee Period Expiration Date shown on
your Policy's specifications page."
5. The section entitled "Termination", appearing on pages 26 and 27 of the
Prospectus, is modified by adding the following to the end thereof:
"or, (e) the Grace Period ends on or after the
Guarantee Period Expiration Date shown on your
Policy's specifications page."
00S6DVLSupp2C.doc
