<PAGE>
PROSPECTUS SUPPLEMENT TO
VAN ECK WORLDWIDE INSURANCE TRUST PROSPECTUS
DATED APRIL 30, 1997
Amendment to the Prospectus--"Management--Investment Adviser, Manager and
Administrator"
Charles Cameron and Gregory Krenzer now serve as Co-Portfolio Managers of
Worldwide Bond Fund, replacing Madis Senner. Messrs. Cameron and Krenzer are
jointly responsible for managing this Fund's portfolio of investments and also
serve as Co-Portfolio Managers of Van Eck Global Income Fund. Mr. Cameron is
Chief Trader for the investment adviser, Van Eck Associates Corporation (the
"Adviser"), and an officer of Van Eck Worldwide Insurance Trust and another
mutual fund advised by the Adviser. Prior to joining Van Eck, Mr. Cameron was
a trader in both the Eurobond and emerging markets for Standard Chartered
Bank. Mr. Krenzer is portfolio manager of Van Eck U.S. Government Money Fund
and a research analyst for the Adviser specializing in global fixed income
securities.
Kevin L. Reid now serves as Co-Portfolio Manager of Worldwide Hard Assets Fund
with Derek van Eck. Messrs. van Eck and Reid are jointly responsible for
managing this Fund's portfolio of investments. Mr. Reid also serves as
Portfolio Manager of Worldwide Real Estate Fund, Van Eck Global Real Estate
Fund and as Co-Portfolio Manager of Van Eck Global Hard Assets Fund. He is an
officer of the Trust and another mutual fund advised by the Adviser. Mr. Reid
was previously employed by Trammell Crow Co. and Merrill Lynch and Co. and was
a principal in a private contracting firm.
Prospectus Supplement Dated December 26, 1997
<PAGE>
PROSPECTUS SUPPLEMENT TO
VAN ECK WORLDWIDE BOND FUND PROSPECTUS
DATED APRIL 30, 1997
Amendment to the Prospectus--"Management--Investment Adviser, Manager and
Administrator"
Charles Cameron and Gregory Krenzer now serve as Co-Portfolio Managers of
Worldwide Bond Fund, replacing Madis Senner. Messrs. Cameron and Krenzer are
jointly responsible for managing this Fund's portfolio of investments and also
serve as Co-Portfolio Managers of Van Eck Global Income Fund. Mr. Cameron is
Chief Trader for the investment adviser, Van Eck Associates Corporation (the
"Adviser"), and an officer of Van Eck Worldwide Insurance Trust and another
mutual fund advised by the Adviser. Prior to joining Van Eck, Mr. Cameron was
a trader in both the Eurobond and emerging markets for Standard Chartered
Bank. Mr. Krenzer is portfolio manager of Van Eck U.S. Government Money Fund
and a research analyst for the Adviser specializing in global fixed income
securities.
Prospectus Supplement Dated December 26, 1997
<PAGE>
PROSPECTUS SUPPLEMENT TO
VAN ECK WORLDWIDE HARD ASSETS FUND PROSPECTUS
DATED APRIL 30, 1997
Amendment to the Prospectus--"Management--Investment Adviser, Manager and
Administrator"
Kevin L. Reid now serves as Co-Portfolio Manager of Worldwide Hard Assets Fund
with Derek van Eck. Messrs. van Eck and Reid are jointly responsible for
managing this Fund's portfolio of investments. Mr. Reid also serves as
Portfolio Manager of Worldwide Real Estate Fund, Van Eck Global Real Estate
Fund and as Co-Portfolio Manager of Van Eck Global Hard Assets Fund. He is an
officer of the Trust and another mutual fund advised by the Adviser. Mr. Reid
was previously employed by Trammell Crow Co. and Merrill Lynch and Co. and was
a principal in a private contracting firm.
Prospectus Supplement Dated December 26, 1997
