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SUPPLEMENT DATED NOVEMBER 1, 1999
to
PROSPECTUS DATED MAY 1, 1999
and
SUPPLEMENT DATED JULY 15, 1999
for
Flexible Payment Variable Annuity Contract
Issued by
MONY Life Insurance Company of America
MONY America Variable Account A
EFFECTIVE NOVEMBER 16, 1999 THIS SUPPLEMENT UPDATES CERTAIN INFORMATION
CONTAINED IN YOUR PROSPECTUS. PLEASE READ IT AND KEEP IT WITH YOUR PROSPECTUS
FOR FUTURE REFERENCE.
1. THE FIRST SENTENCE OF THE THIRD BULLET ON THE COVER PAGE IS HEREBY AMENDED
TO READ AS FOLLOWS:
- If you do, you can tell us to place your purchase payments and fund
values into any 21 of the 25 different subaccounts.
2. THE *** FOOTNOTE ON PAGE 6 IS HEREBY AMENDED TO READ AS FOLLOWS:
*** The Mortality and Expense Risk charge is deducted daily equivalent to a
current annual rate of 1.35 percent.
3. THE EXAMPLE ON PAGE 6 OF THE PROSPECTUS IS AMENDED TO READ AS FOLLOWS:
If you surrender your Contract at the end of the time periods shown
below, you would pay the following expenses on a $1,000 investment,
assuming 5% annual return on assets:
<TABLE>
<CAPTION>
AFTER AFTER AFTER AFTER
SUBACCOUNT 1 YEAR 3 YEARS 5 YEARS 10 YEARS
---------- ------ ------- ------- --------
<S> <C> <C> <C> <C>
Enterprise Equity............................ $85 $122 $161 $251
Enterprise Small Company Value............... $85 $122 $162 $253
Enterprise Managed........................... $84 $120 $158 $244
Enterprise International Growth.............. $89 $134 $181 $290
Enterprise Small Company Growth.............. $91 $139 $190 $308
Enterprise Equity Income..................... $87 $129 $173 $274
Enterprise Growth............................ $88 $132 $178 $284
Enterprise Growth and Income................. $87 $129 $173 $274
Enterprise Capital Appreciation.............. $90 $136 $185 $298
Enterprise High Yield Bond................... $84 $119 $156 $240
Enterprise Multi-Cap Growth.................. $91 $139 $190 $308
Enterprise Balanced.......................... $86 $126 $167 $264
MONY Intermediate Term Bond.................. $83 $115 $151 $230
MONY Long Term Bond.......................... $82 $114 $149 $225
MONY Government Securities................... $83 $116 $152 $232
MONY Money Market............................ $81 $110 $142 $212
Dreyfus Stock Index.......................... $79 $104 $132 $191
Dreyfus Socially Responsible................. $85 $121 $160 $248
Fidelity VIP Growth.......................... $84 $119 $157 $243
Fidelity VIP II Contrafund................... $84 $119 $157 $243
Fidelity VIP III Growth Opportunities........ $85 $121 $159 $247
</TABLE>
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<TABLE>
<CAPTION>
AFTER AFTER AFTER AFTER
SUBACCOUNT 1 YEAR 3 YEARS 5 YEARS 10 YEARS
---------- ------ ------- ------- --------
<S> <C> <C> <C> <C>
Janus Aspen Series Aggressive Growth......... $84 $119 $157 $243
Janus Aspen Series Balanced.................. $84 $119 $157 $242
Janus Aspen Series Capital Appreciation...... $86 $125 $166 $261
Janus Aspen Series Worldwide Growth.......... $84 $119 $156 $240
</TABLE>
4. THE EXAMPLE ON PAGE 7 OF THE PROSPECTUS IS AMENDED TO READ AS FOLLOWS:
If you annuitize your Contract at the end of the time periods shown
below, you would pay the following expenses on a $1,000 investment,
assuming 5% annual return on assets:
<TABLE>
<CAPTION>
AFTER AFTER AFTER AFTER
SUBACCOUNT 1 YEAR 3 YEARS 5 YEARS 10 YEARS
---------- ------ ------- ------- --------
<S> <C> <C> <C> <C>
Enterprise Equity............................ $85 $122 $117 $251
Enterprise Small Company Value............... $85 $122 $118 $253
Enterprise Managed........................... $84 $120 $113 $244
Enterprise International Growth.............. $89 $134 $137 $290
Enterprise Small Company Growth.............. $91 $139 $145 $308
Enterprise Equity Income..................... $87 $129 $128 $274
Enterprise Growth............................ $88 $132 $133 $284
Enterprise Growth and Income................. $87 $129 $128 $274
Enterprise Capital Appreciation.............. $90 $136 $141 $298
Enterprise High Yield Bond................... $84 $119 $111 $240
Enterprise Multi-Cap Growth.................. $91 $139 $145 $308
Enterprise Balanced.......................... $86 $126 $123 $264
MONY Intermediate Term Bond.................. $83 $115 $106 $230
MONY Long Term Bond.......................... $82 $114 $104 $225
MONY Government Securities................... $83 $116 $107 $232
MONY Money Market............................ $81 $110 $ 97 $212
Dreyfus Stock Index.......................... $79 $104 $ 88 $191
Dreyfus Socially Responsible................. $85 $121 $115 $248
Fidelity VIP Growth.......................... $84 $119 $113 $243
Fidelity VIP II Contrafund................... $84 $119 $113 $243
Fidelity VIP III Growth Opportunities........ $85 $121 $115 $247
Janus Aspen Series Aggressive Growth......... $84 $119 $113 $243
Janus Aspen Series Balanced.................. $84 $119 $112 $242
Janus Aspen Series Capital Appreciation...... $86 $125 $122 $261
Janus Aspen Series Worldwide Growth.......... $84 $119 $111 $240
</TABLE>
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5. THE EXAMPLE ON PAGE 7 OF THE PROSPECTUS IS AMENDED TO READ AS FOLLOWS:
If you do not surrender your Contract at the end of the time periods
shown below, you would pay the following expenses on a $1,000 investment,
assuming 5% annual return on assets:
<TABLE>
<CAPTION>
AFTER AFTER AFTER AFTER
SUBACCOUNT 1 YEAR 3 YEARS 5 YEARS 10 YEARS
---------- ------ ------- ------- --------
<S> <C> <C> <C> <C>
Enterprise Equity............................ $22 $68 $117 $251
Enterprise Small Company Value............... $22 $69 $118 $253
Enterprise Managed........................... $21 $66 $113 $244
Enterprise International Growth.............. $26 $80 $137 $290
Enterprise Small Company Growth.............. $28 $85 $145 $308
Enterprise Equity Income..................... $24 $75 $128 $274
Enterprise Growth............................ $25 $78 $133 $284
Enterprise Growth and Income................. $24 $75 $128 $274
Enterprise Capital Appreciation.............. $27 $82 $141 $298
Enterprise High Yield Bond................... $21 $65 $111 $240
Enterprise Multi-Cap Growth.................. $28 $85 $145 $308
Enterprise Balanced.......................... $23 $72 $123 $264
MONY Intermediate Term Bond.................. $20 $62 $106 $230
MONY Long Term Bond.......................... $20 $61 $104 $225
MONY Government Securities................... $20 $62 $107 $232
MONY Money Market............................ $18 $57 $ 97 $212
Dreyfus Stock Index.......................... $16 $51 $ 88 $191
Dreyfus Socially Responsible................. $22 $67 $115 $248
Fidelity VIP Growth.......................... $21 $66 $113 $243
Fidelity VIP II Contrafund................... $21 $66 $113 $243
Fidelity VIP III Growth Opportunities........ $22 $67 $115 $247
Janus Aspen Series Aggressive Growth......... $21 $66 $113 $243
Janus Aspen Series Balanced.................. $21 $65 $112 $242
Janus Aspen Series Capital Appreciation...... $23 $71 $122 $261
Janus Aspen Series Worldwide Growth.......... $21 $65 $111 $240
</TABLE>
6. THE SECOND SENTENCE OF THE FIRST PARAGRAPH UNDER "THE FUNDS" ON PAGE 16 IS
DELETED AND REPLACED BY THE FOLLOWING:
The Funds (except for the Dreyfus Stock Index Fund) are diversified,
open-end management investment companies. The Dreyfus Stock Index Fund is a
non-diversified, open-end management investment company. The Funds are
registered with the SEC under the Investment Company Act of 1940.
7. THE FIRST COLUMN OF THE ENTERPRISE ACCUMULATION TRUST TABLE ON PAGE 17 IS
AMENDED TO CHANGE THE NAME OF THE SUB-INVESTMENT ADVISER FOR THE EQUITY
PORTFOLIO TO TCW FUNDS MANAGEMENT, INC. AND TO ADD SANFORD C. BERNSTEIN &
CO., INC. AS THE CO-SUB-INVESTMENT ADVISER TO THE MANAGED PORTFOLIO.
8. THE FIRST COLUMN OF THE ENTERPRISE ACCUMULATION TRUST TABLE ON PAGE 19 IS
AMENDED TO CHANGE THE NAME OF THE SUB-INVESTMENT ADVISER OF THE CAPITAL
APPRECIATION PORTFOLIO TO MARSICO CAPITAL MANAGEMENT, LLC.
9. THE FIRST PARAGRAPH FOLLOWING THE TABLE ON PAGE 19 IS AMENDED TO READ AS
FOLLOWS:
The investment objectives of each portfolio (except for the Janus
portfolios) are fundamental and may not be changed without the approval of
the holders of a majority of the outstanding shares of the portfolio
affected. For each of the Funds a majority means the lesser of:
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(1) 67% of the portfolio shares represented at a meeting at which
more than 50% of the outstanding portfolio shares are represented, or
(2) more than 50% of the outstanding portfolio shares.
The investment objectives of the Janus portfolios are non-fundamental and
may be changed by the Fund's Trustees without a shareholder vote.
10. THE FIRST SENTENCE UNDER "ALLOCATION OF PAYMENTS AND FUND VALUE" ON PAGE 23
IS AMENDED TO READ AS FOLLOWS:
Allocation of Payments. On the application, the Owner may allocate Net
Purchase Payments to up to 21 of the 25 subaccount(s) of MONY America
Variable Account A or to the Guaranteed Interest Account.
11. THE FIRST SENTENCE OF THE SECOND PARAGRAPH ON PAGE 24 IS AMENDED TO READ AS
FOLLOWS:
Net Purchase Payments may be allocated in whole percentages to up to
21 of the available subaccounts and to the Guaranteed Interest Account.
12. PAGE 29, NUMBER (3) IN THE FIRST PARAGRAPH UNDER THE CAPTION "DEATH BENEFIT
PROVIDED BY THE CONTRACT," IS AMENDED TO READ AS FOLLOWS:
(3) An Enhanced Death Benefit.
13. PAGE 29, THE SECTION ENTITLED "ENHANCED DEATH BENEFIT" IS AMENDED TO READ
AS FOLLOWS:
ENHANCED DEATH BENEFIT OPTIONS
Your Contract provides a choice of two enhanced death benefit options
when it is issued. If the Annuitant is age 0-75, the Annuitant may choose
either Enhanced Death Benefit -- 5 Year or Enhanced Death Benefit -- 1 Year
described below. The 1 Year Enhanced Death Benefit is only available to
contracts applied for on or after November 16, 1999. If the Annuitant does
not choose an option when the Contract is issued, the Annuitant will
automatically receive the Enhanced Death Benefit -- 5 Year.
Enhanced Death Benefit -- 5 Year
On the 5th Contract anniversary and each subsequent 5th Contract
anniversary prior to the Annuitant's 71st birthday, the Enhanced Death
Benefit may be increased. If the Annuitant is age 65 or over on the date of
issue, the Enhanced Death Benefit will be recalculated once on the 5th
Contract anniversary. Once the last value is set it will not be
recalculated.
Enhanced Death Benefit -- 1 Year
On the first Contract anniversary and each subsequent Contract
anniversary prior to the Annuitant's 80th birthday, the Enhanced Death
Benefit may be increased. After the Annuitant reaches age 80, this enhanced
death benefit provision expires and the Death Benefit will be the greater
of (i) Fund Value less any Outstanding Debt on the date of the Annuitant's
death, or (ii) purchase payments paid less any partial surrenders and their
surrender charges. This option may not be currently available in all
states.
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Amount of the Enhanced Death Benefit Payable on Death Under Enhanced
Death Benefit Options
The recalculated Enhanced Death Benefit is equal to the greater of:
1. the Fund Value on the date the Enhanced Death Benefit is to be
recalculated; and
2. the current Enhanced Death Benefit proportionately reduced by
any partial surrenders including surrender charges and any applicable
market value adjustments assessed since the last recalculation of the
Enhanced Death Benefit.
The Enhanced Death Benefit payable under both Enhanced Death Benefit
options is the Enhanced Death Benefit on the date of death, reduced
proportionately for each partial surrender (including surrender charges and
market value adjustments, if applicable) since the last recalculation date
and less any Outstanding Debt.
In no event will the Enhanced Death Benefit payable on death exceed
200% of the total purchase payments made:
- Reduced proportionately for each partial surrender (including
surrender charges and applicable market value adjustments, if
applicable), and less
- Any Outstanding Debt.
The proportionate reduction for each partial surrender will be equal to:
(1) The amount of that partial surrender (including any surrender
charges and applicable market value adjustment, assessed), divided by
(2) The Fund Value immediately before that partial surrender,
multiplied by,
(3) The Enhanced Death Benefit immediately before the surrender.
All other basic death benefits as described in this prospectus
continue to apply. The largest death benefit under any of these provisions
will be paid.
The cost of an enhancement option is reflected in the mortality and
expense risk charge.
14. THE MORTALITY & EXPENSE RISK CHARGE IN THE TABLE ON PAGE 31 IS AMENDED TO
READ AS FOLLOWS:
Current daily rate -- .003699%
Current annual rate -- 1.35%
15. THE FIRST PARAGRAPH UNDER "CHARGES AGAINST FUND VALUE -- DAILY DEDUCTION
FROM MONY AMERICA VARIABLE ACCOUNT A -- MORTALITY AND EXPENSE RISK CHARGE"
ON PAGE 31 IS AMENDED TO READ AS FOLLOWS:
The Company assumes mortality and expense risks. A charge for assuming
such risks is deducted daily from the net assets of Variable Account A.
This daily charge from MONY America Variable Account A is deducted at a
current rate equivalent to an annual rate of 1.35% from the value of the
net assets of MONY America Variable Account A. Of the 1.35% charge, .90% is
for assuming mortality risks (which is guaranteed not to exceed .90%), and
.45% is for assuming expense risks. The charge is deducted from MONY
America Variable Account A, and therefore the subaccounts, on each Business
Day. These charges will not be deducted from the Guaranteed Interest
Account. Where the previous day (or days) was not a Business Day, the
deduction currently on the next Business Day will be 0.003699% (guaranteed
not to exceed 0.003699%) multiplied by the number of days since the last
Business Day.
#820-342 Reg. No. 333-59717
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