As filed with the Securities and Exchange Commission on
November 22, 2000
Securities Act Registration No. 33-98848
Investment Act Registration No. 811-05192
--------------------------------------------------------------------------------
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 [ ]
Pre-Effective Amendment No.____ [ ]
Post Effective Amendment No. 10 [X]
REGISTRATION STATEMENT UNDER THE INVESTMENT ACT OF 1940
Amendment No. 89 [X]
AMERITAS VARIABLE LIFE INSURANCE COMPANY
SEPARATE ACCOUNT VA-2
Ameritas Variable Life Insurance Company
Depositor
5900 "O" Street
Lincoln, Nebraska 68510
------------------------
DONALD R. STADING
Secretary and General Counsel
Ameritas Variable Life Insurance Company
5900 "O" Street
Lincoln, Nebraska 68510
It is proposed that this filing will become effective:
[X] immediately upon filing pursuant to paragraph b
[ ] on _______________ pursuant to paragraph a of Rule 485
[ ] on _______________ pursuant to paragraph b of Rule 485
If appropriate, check the following box:
[ ] this post-effective amendment designates a new effective date for
a previously filed post-effective amendment.
Title of Securities Being Registered: Securities of Unit Investment Trust.
-----------------------------------
<PAGE>
OVERTURE ANNUITY III-PLUS
CROSS REFERENCE TO ITEMS REQUIRED BY FORM N-4
PART A
FORM N-4 ITEM HEADING IN PROSPECTUS
-------- ---- ---------------------
Item 1. Cover Page..............................Cover Page
Item 2. Definitions.............................Definitions
Item 3. Synopsis or Highlights..................Fee Table; Fund Expense
Summary; Example
Item 4. Condensed Financial Information.........Condensed Financial
Information; Performance Data
Item 5. General Description of Registrant,
Depositor and Portfolio Companies
a) Depositor............................Ameritas Variable Life
Insurance Company
b) Registrant...........................The Separate Account
c) Portfolio Company....................The Funds
d) Prospectus...........................The Funds
e) Voting...............................Voting Rights
f) Administrator........................N/A
Item 6. Deductions and Expenses
a) Deductions...........................Fee Table; Charges and
Deductions
b) Sales Load...........................Fee Table; Withdrawal Charge
c) Special purchase plans...............Administrative Charges
d) Commissions..........................Distribution of the Policies
e) Portfolio company deductions and
expenses.............................The Funds; Fee Table: Fund
Expense Summary
f) Registrant's expenses................N/A
Item 7. General Description of Variable
a) Rights...............................The Policy; Distributions
Under the Policy; General
Provisions; Voting Rights
b) Provisions and limitations...........The Policy; Allocation of
Premium; Transfers
c) Changes in contracts or
operations...........................Addition, Deletion, or
Substitution of Investment;
The Policy; Voting Rights
d) Contractowners inquiries.............Ameritas Variable Life
Insurance Company
Item 8. Annuity Period
a) Level of benefits....................Allocation of Premium;
Annuity Income Options
b) Annuity commencement date............Annuity Date
c) Annuity payments.....................Annuity Income Options
d) Assumed investment return............N/A
e) Minimums.............................Annuity Income Options
f) Rights to change options or
transfer investment base.............Annuity Income Options
Item 9. Death Benefit
a) Death benefit calculation............Death of Annuitant Prior to
Annuity Date: Death of
Owner; Annuity Income
Options
b) Forms of benefits....................Death of Annuitant Prior to
Annuity Date: Death of
Owner; Annuity Income
Options
Item 10. Purchases and Contract Values
a) Procedures for purchases.............Cover Page; Policy
Application and Premium
Payment; Allocation of
Premium
b) Accumulation unit value..............Accumulation Value
c) Calculation of accumulation unit
value................................Accumulation Value
<PAGE>
d) Principal underwriter................Distribution of the Policies
Item 11. Redemptions
a) Redemption procedures................Full and Partial Withdrawals
b) Texas Optional Retirement
Program..............................N/A
c) Delay................................Full and Partial Withdrawals;
Deferment of Payment
d) Lapse................................N/A
e) Revocation of rights.................Refund Privilege
Item 12. Taxes
a) Tax consequences.....................Federal Tax Matters
b) Qualified plans......................Federal Tax Matters
c) Impact of taxes......................Taxes
Item 13. Legal Proceedings.......................Legal Proceedings
Item 14. Table of Contents for Statement of
Additional Information..................Statement of Additional
Information
PART B
FORM N-4 ITEM....................................HEADING IN STATEMENT OF
ADDITIONAL INFORMATION
Item 15. Cover Page..............................Cover Page
Item 16. Table of Contents.......................Table of Contents
Item 17. General Information and History
a) Name change/Suspended Sales..........N/A
b) Attribution of Assets................N/A
c) Control of Depositor.................General Information and
History
Item 18. Services
a) Fees, expenses and costs.............N/A
b) Management-related services..........AVLIC
c) Custodian and independent public
accountant...........................Safekeeping of Separate
Account Assets; Experts
d) Other custodianship..................N/A
e) Administrative servicing agent.......N/A
f) Depositor as principal
underwriter..........................N/A
Item 19. Purchase of Securities Being Offered
a) Manner of Offering...................N/A
b) Sales load...........................N/A
Item 20. Underwriters
a) Depositor or affiliate as principal
underwriter..........................Distribution of the Policy
b)continuous offering...................Distribution of the Policy
c) Underwriting commissions.............Distribution of the Policy
d) Payments of underwriter..............N/A
Item 21. Calculation of Performance Data.........Calculation of Performance
Data
Item 22. Annuity Payments........................N/A
Item 23. Financial Statements
a) Registrant...........................Financial Statements
b) Depositor............................Financial Statements
<PAGE>
Pursuant to Rule 411 under the Securities Act of 1933, as amended, and Rules 0-4
and 8b-23 under the Investment Company Act of 1940, as amended, the information
required to be included in this Registration Statement (File No. 33-98848) is
incorporated herein by reference to the Prospectus and Statement of Additional
Information dated May 1, 2000, as filed in electronic format via EDGAR with the
Securities and Exchange Commission on March 1, 2000. This Amendment does not
delete, amend, or supersede any information contained in the Registration
Statement or Post-Effective Amendment No. 9 to the Registration Statement,
except to the extent provided herein.
AMERITAS VARIABLE LIFE INSURANCE COMPANY ("AVLIC")
AMERITAS VARIABLE LIFE INSURANCE COMPANY SEPARATE ACCOUNT VA-2
("SEPARATE ACCOUNT")
SUPPLEMENT TO OVERTURE ANNUITY III-PLUS, OVERTURE ACCLAIM! AND OVERTURE ACCENT!
PROSPECTUSES DATED MAY 1, 2000
SUPPLEMENT DATED NOVEMBER 22, 2000
EFFECTIVE JANUARY 1, 2001, AVLIC WILL ADD CERTAIN PORTFOLIOS DESCRIBED BELOW TO
YOUR POLICY. THE FOLLOWING INFORMATION IS ADDED TO YOUR PROSPECTUS FOR THE
SEPARATE ACCOUNT:
1. ON PAGE 1 OF EACH PROSPECTUS, AND AT ALL OTHER PLACES WHERE THE INVESTMENT
OPTIONS OF THE SEPARATE ACCOUNT ARE LISTED, THE FOLLOWING PORTFOLIOS OF MUTUAL
FUNDS ARE ADDED:
<TABLE>
<CAPTION>
REFERRED TO AS: SERIES FUND ISSUING THE SUBACCOUNT
- PORTFOLIO UNDERLYING MUTUAL FUNDS: FUND ADVISOR - SUBADVISORS
----------------------- ------------------------------------ ------------------------------------
<S> <C> <C>
AMERICAN CENTURY American Century Variable AMERICAN CENTURY INVESTMENT
- VP INCOME & GROWTH Portfolios, Inc. MANAGEMENT, INC.
----------------------- ------------------------------------ ------------------------------------
AMERITAS PORTFOLIOS Calvert Variable Series, Inc. AMERITAS INVESTMENT CORP.
- AMERITAS MICRO CAP Ameritas Portfolios -DAVID L. BABSON & COMPANY INC.
- AMERITAS SELECT (BABSON)
-HARRIS ASSOCIATES, INC. (OAKMARK )
----------------------- ------------------------------------ ------------------------------------
INVESCO FUNDS INVESCO Variable Investment Funds, INVESCO FUNDS GROUP, INC.
- VIF - DYNAMICS Inc.
----------------------- ------------------------------------ ------------------------------------
SALOMON BROTHERS Salomon Brothers Variable Series SALOMON BROTHERS ASSET MANAGEMENT
- VARIABLE CAPITAL Funds Inc. INC
----------------------- ------------------------------------ ------------------------------------
SUMMIT PINNACLE SERIES Summit Mutual Funds, Inc., Summit SUMMIT INVESTMENT PARTNERS, INC.
- NASDAQ-100 INDEX Pinnacle Series
- RUSSELL 2000 SMALL
CAP INDEX
- S&P MIDCAP 400 INDEX
----------------------- ------------------------------------ ------------------------------------
THIRD AVENUE Third Avenue Variable Series Trust EQSF ADVISERS, INC.
- THIRD AVENUE VALUE
2. ON PAGE 6 OF EACH PROSPECTUS, THE FOLLOWING INFORMATION IS ADDED TO THE FUND EXPENSE SUMMARY:
--------------------------------------------------------------------------------------------------
Total
Investment (Reflecting
Portfolio Advisory & Waivers waivers and/or
Management Other Total and/or reimbursements,
Expenses Expenses Reimbursements If any)
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AMERICAN CENTURY
o VP Income & Growth 0.70% - 0.70% - 0.70%
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AMERITAS PORTFOLIOS (SUBADVISOR) (9)
o Ameritas Micro Cap (BABSON) 1.12% 0.88% 2.00% 0.50% 1.50%
o Ameritas Select (OAKMARK) 0.92% 0.88% 1.80% 0.30% 1.50%
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INVESCO FUNDS
o VIF - Dynamics (10) 0.75% 1.53% 2.28% 1.15% 1.13%
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SALOMON BROTHERS
o Variable Capital (11) 0.85% 1.14% 1.99% 0.99% 1.00%
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SUMMIT PINNACLE SERIES (12)
o Nasdaq-100 Index 0.35% 0.30% 0.65% - 0.65%
Russell 2000 Small Cap Index 0.35% 0.40% 0.75% - 0.75%
o S&P MidCap 400 Index 0.30% 0.30% 0.60% - 0.60%
THIRD AVENUE
o Third Avenue Value (13) 0.90% 33.53% 34.43% 33.13% 1.30%
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</TABLE>
(9) "Other Expenses" for the Ameritas Micro Cap and Ameritas Select portfolios
are based on estimates, since these are new portfolios. The portfolio investment
adviser (AIC) has voluntarily agreed to reimburse each portfolio so that total
annual operating expenses for each portfolio will not exceed 1.50%. The
investment adviser reserves the right to terminate any waiver and/or
reimbursement at any time and without notice.
(10) Certain expenses of the Dynamics Fund were absorbed voluntarily by INVESCO
in order to ensure that expenses for the fund, excluding any expense offset
arrangements, did not exceed 1.15% of the fund's average net assets. This
commitment may be changed at any time following consultation with the board of
directors.
<PAGE>
(11) The manager waived all of its management fee and reimbursed the fund for
certain expenses during the period ended December 31, 1999. The manager may
discontinue the waiver at any time.
(12) "Other Expenses" for the Nasdaq-100 Index, Russell 2000 Small Cap Index,
and S&P MidCap 400 Index portfolios are based on estimates, since these are new
portfolios. Total operating expenses in excess of those stated for each Summit
portfolio are paid by the investment adviser. The S&P MidCap 400(R) Index is a
trademark of The McGraw-Hill Companies, Inc. The Nasdaq-100(R) Index is a
trademark of The Nasdaq Stock Market, Inc. The Russell 2000(R) Index is a
trademark of the Frank Russell Company. These trademarks have been licensed for
use by Summit Mutual Funds. The Funds are not sponsored, endorsed, sold or
promoted by any of the licensing organizations, and they make no representation
or warranty regarding the Funds, and bear no liability with respect to the
Funds.
(13) The fund commenced investment operations on September 21, 1999. Annualized
expenses before reimbursement are not necessarily indicative of expected
expenses due to the annualization of certain fixed expenses.
3. THE FOLLOWING INFORMATION IS ADDED TO THE PROSPECTUS EXAMPLES:
<TABLE>
<CAPTION>
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An Owner would pay the following 3.
expenses on a $1,000 investment, 1. 2. Policy is not
assuming a 5% annual return on Surrender Policy at end Annuitize Policy at end surrendered and is not
assets if: of the time period. ($) of the time period. ($) annuitized. ($)
----------------------------------------------------------------------------------------------------------------
1 Yr 3 Yr 5 Yr 10 Yr 1 Yr 3 Yr 5 Yr 10 Yr 1 Yr 3 Yr 5 Yr 10 Yr
----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
OVERTURE ANNUITY III-PLUS, PAGES 8, 9 AND 10
American Century VP Income &
Growth 82 129 158 252 82 69 118 252 22 69 118 252
Ameritas Micro Cap 90 153 197 330 90 93 157 330 30 93 157 330
Ameritas Select 90 153 197 330 90 93 157 330 30 93 157 330
INVESCO VIP - Dynamics 87 142 179 295 87 82 139 295 27 82 139 295
Salomon Brothers Variable
Capital 85 138 173 282 85 78 133 282 25 78 133 282
Summit Pinnacle Nasdaq-100
Index 82 127 155 246 82 67 115 246 22 67 115 246
Summit Pinnacle Russell 2000
Small Cap Index 83 130 160 257 83 70 120 257 23 70 120 257
Summit Pinnacle S&P MidCap
400 Index 81 126 153 241 81 66 113 241 21 66 113 241
Third Avenue Value 88 147 188 311 88 87 148 311 28 87 148 311
----------------------------------------------------------------------------------------------------------------
OVERTURE ACCENT!, PAGES 9, 10 AND 11
American Century VP Income &
Growth 97 133 161 198 97 53 91 198 17 53 91 198
Ameritas Micro Cap 105 157 202 281 105 77 132 281 25 77 132 281
Ameritas Select 105 157 202 281 105 77 132 281 25 77 132 281
INVESCO VIP - Dynamics 101 146 183 244 101 66 113 244 21 66 113 244
Salomon Brothers Variable
Capital 100 142 177 230 100 62 107 230 20 62 107 230
Summit Pinnacle Nasdaq-100
Index 97 132 159 193 97 52 89 193 17 52 89 193
Summit Pinnacle Russell 2000
Small Cap Index 98 135 164 204 98 55 94 204 18 55 94 204
Summit Pinnacle S&P MidCap
400 Index 96 130 156 188 96 50 86 188 16 50 86 188
Third Avenue Value 103 151 192 261 103 71 122 261 23 71 122 261
----------------------------------------------------------------------------------------------------------------
OVERTURE ACCLAIM!, PAGE 9
American Century VP Income & SAME AS IF SAME AS IF
Growth 22 67 114 246 SURRENDERED SURRENDERED
Ameritas Micro Cap 30 91 154 325
Ameritas Select 30 91 154 325
INVESCO VIP - Dynamics 26 80 136 289
Salomon Brothers Variable
Capital 25 76 130 276
Summit Pinnacle Nasdaq-100
Index 21 65 112 240
Summit Pinnacle Russell 2000
Small Cap Index 22 68 117 251
Summit Pinnacle S&P MidCap
400 Index 21 64 109 235
Third Avenue Value 28 85 145 306
</TABLE>
4. APPENDIX A, UNDERLYING MUTUAL FUNDS, IS ADDED AS FOLLOWS:
The underlying mutual funds listed below are designed primarily as
investments for variable annuity and variable life insurance policies issued by
insurance companies. They are not publicly traded mutual funds available for
direct purchase by you. THERE IS NO ASSURANCE THE INVESTMENT OBJECTIVES WILL BE
MET.
This information is just a summary for each underlying portfolio. You
should read the series fund prospectus for an underlying portfolio for more
information about that portfolio.
<PAGE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------- --------------------------------------
Subaccount Variable Investment Options: Investment Objective:
Investment Strategy
<S> <C>
------------------------------------------------------------------------------- --------------------------------------
ALGER: offered through The Alger American Fund;,advised by Fred Alger Management, Inc.
----------------------------------------------------------------------------------------------------------------------
o ALGER AMERICAN BALANCED PORTFOLIO Current Income and long-term capital
Common stock of companies with growth potential and fixed-income growth
securities.
o ALGER AMERICAN LEVERAGED ALLCAP PORTFOLIO Long-term capital growth
Common stocks of companies with growth potential.
------------------------------------------------------------------------------- --------------------------------------
AMERICAN CENTURY: offered through American Century Variable Portfolios, Inc.;
Advised by American Century Investment Management, Inc.
----------------------------------------------------------------------------------------------------------------------
o VP INCOME & GROWTH FUND Long-term capital growth. Income is
Common stocks of U.S. companies. secondary.
------------------------------------------------------------------------------- --------------------------------------
AMERITAS PORTFOLIOS: offered through Calvert Variable Series, Inc. Ameritas Portfolios;
Advised by Ameritas Investment Corp. (SUBADVISOR. See page 1 for Subadvisor's full name.)
----------------------------------------------------------------------------------------------------------------------
o AMERITAS GROWTH PORTFOLIO (ALGER) Long-term capital growth.
Common stocks of large U.S. companies with broad product lines,
markets, financial resources and depth of management.
o AMERITAS INCOME & GROWTH PORTFOLIO (ALGER) High level of dividend income, with
Dividend paying equity securities, prefereably with growth potential. capital growth as a secondary goal.
o AMERITAS MIDCAP GROWTH PORTFOLIO (ALGER) Long-term capital growth.
Common stocks of midsize U.S. companies with promising growth potential.
o AMERITAS SMALL CAPITALIZATION PORTFOLIO (ALGER) Long-term capital growth.
Common stocks of small, fast-growing U.S. companies that offer
innovative products, services or technologies to a rapidly expanding
marketplace.
o AMERITAS MICRO CAP PORTFOLIO (BABSON) Long-term capital growth.
Common stocks of small size U.S. companies.
o AMERITAS MONEY MARKET PORTFOLIO (CALVERT) Current income.
Money market securities of domestic and foreign issuers.
o AMERITAS EMERGING GROWTH PORTFOLIO (MFS) Long-term capital growth.
Common stocks of emerging growth companies or related securities,
including foreign securities.
o AMERITAS GROWTH WITH INCOME PORTFOLIO (MFS) Current income, long-term growth of
Common stocks of companies or related securities, including foreign capital and income.
securities, to seek to provide income equal to 90% of the S&P 500
Composite Index dividend yield.
o AMERITAS RESEARCH PORTFOLIO (MFS Long-term capital growth and future
Common stocks and related securities of companies with favorable income.
prospectus for long-term growth, attractive valuations, dominant or
growing market share, and superior management.
o AMERITAS SELECT PORTFOLIO (OAKMARK) Long-term capital growth.
Common stocks of U.S. companies.
o AMERITAS INDEX 500 PORTFOLIO (STATE STREET) Results that correspond to the S&P
Common stocks of U.S. companies on the S&P 500 Index. 500 Index company common stocks.
------------------------------------------------------------------------------- --------------------------------------
CALVERT: offered through Calvert Variable Series, Inc. Calvert Social Portfolios; advised by Calvert Asset
Management Company
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o CVS SOCIAL BALANCED PORTFOLIO Income and capital growth through
Mostly large-cap growth oriented common stock of U.S. companies, with social criteria screened investments.
some bonds and money market instruments.
o CVS SOCIAL INTERNATIONAL EQUITY PORTFOLIO High total return through social
Common stocks of mid to large cap companies. criteria screened investments.
o CVS SOCIAL MID CAP GROWTH PORTFOLIO Long-term capital growth through
Common stocks of mid size companies. social criteria screened investments.
o CVS SOCIAL SMALL CAP GROWTH PORTFOLIO Long-term capital growth through
Common stocks of small cap companies. social criteria screened investments.
------------------------------------------------------------------------------- --------------------------------------
FIDELITY: offered through Variable Insurance Products; advised by Fidelity Management and Research Company.
----------------------------------------------------------------------------------------------------------------------
o VIP ASSET MANAGER PORTFOLIO High total return with reduced risk
Allocated investments among stocks, bonds and short-term/money market over the long-term.
investments.
o VIP ASSET MANAGER: GROWTH PORTFOLIO High total return.
Allocated investments among stocks, bonds and short-term/money market
investments.
<PAGE>
o VIP CONTRAFUND PORTFOLIO Long-term capital growth.
Common stocks of companies whose value is not fully recognized.
o VIP EQUITY INCOME PORTFOLIO Reasonable income.
Income producing equity securities.
o VIP GROWTH PORTFOLIO Capital growth.
Common stocks of companies with above average growth potential.
o VIP HIGH INCOME PORTFOLIO High level of current income.
High yielding fixed-income securities, while also considering growth of
capital.
o VIP INVESTMENT GRADE BOND PORTFOLIO High level of current income as is
U.S. Dollar-denominated investment-grade bonds (medium and high consistent with preservation of
quality). capital.
o VIP OVERSEAS PORTFOLIO Long-term capital growth.
Securities of foreign companies, diversified across countries and
regions.
------------------------------------------------------------------------------- --------------------------------------
INVESCO FUNDS: offered through INVESCO Variable Investment Funds, Inc.; advised by INVESCO Funds Group, Inc..
----------------------------------------------------------------------------------------------------------------------
o VIF - DYNAMICS FUND Long-term capital growth.
Common stocks of mid-size companies.
------------------------------------------------------------------------------- --------------------------------------
MFS: offered through MFS Variable Insurance Trust; advised by Massachusetts Financial Services Company
----------------------------------------------------------------------------------------------------------------------
o GLOBAL GOVERNMENTS SERIES Income and capital growth.
U.S. and foreign government securities, corporate bonds, and
mortgage-backed and asset-backed securities.
o NEW DISCOVERY SERIES Capital growth.
Common stocks of smaller cap emerging growth companies that are early
in their life cycle.
o UTILITIES SERIES Capital growth and current income.
Equity and debt securities of U.S. and foreign companies (including
emerging markets) in the utility industry.
------------------------------------------------------------------------------- --------------------------------------
MORGAN STANLEY: offered through Universal Institutional Funds, Inc.; advised by Morgan Stanley Asset Management
----------------------------------------------------------------------------------------------------------------------
o EMERGING MARKETS EQUITY PORTFOLIO Long-term capital growth.
Growth oriented equity securities of issuers in emerging market
countries.
o GLOBAL EQUITY PORTFOLIO Long-term capital growth.
Equity securities of issuers throughout the world, including U.S.
issuers.
o INTERNATIONAL MAGNUM PORTFOLIO Long-term capital growth.
Equity securities of non-U.S. issuers domiciled in "EAFE" countries.
o U.S. REAL ESTATE PORTFOLIO Above average current income and
Equity securities of companies in the U.S. real estate industry, long-term capital growth.
including real estate investment trusts.
------------------------------------------------------------------------------- --------------------------------------
SALOMON BROTHERS: offered through Salomon Brothers Variable Series Funds Inc.;
advised by Salomon Brothers Asset Management, Inc.
----------------------------------------------------------------------------------------------------------------------
o VARIABLE CAPITAL FUND Capital appreciation.
Common stocks of U.S. companies of all sizes.
------------------------------------------------------------------------------- --------------------------------------
SUMMIT PINNACLE SERIES: offered through Summit Mutual Funds Inc. Summit Pinnacle Series;
advised by Summit Investment Partners, Inc.
----------------------------------------------------------------------------------------------------------------------
o NASDAQ-100 INDEX PORTFOLIO Results that correspond to the
Common stocks of U.S. companies in the Nasdaq-100 Index. Nasdaq-100 Index company common
stocks.
o RUSSELL 2000 SMALL CAP INDEX PORTFOLIO Results that correspond to the
Common stocks of U.S. companies in the Russell 2000 Index. Russell 2000 Index company common
stocks.
o S&P MIDCAP 400 INDEX PORTFOLIO Results that correspond to the S&P
Common stocks of U.S. companies in the S&P MidCap 400 Index. 400 MidCap Index company common
stocks.
------------------------------------------------------------------------------- --------------------------------------
THIRD AVENUE: offered through Third Avenue Variable Series Trust; advised by EQSF Advisers, Inc.
----------------------------------------------------------------------------------------------------------------------
o THIRD AVENUE VALUE PORTFOLIO Long-term capital growth.
Common stocks of companies carrying little debt in comparison to cash
resources.
</TABLE>
THIS SUPPLEMENT SHOULD BE RETAINED WITH THE CURRENT PROSPECTUS FOR YOUR VARIABLE
POLICY ISSUED BY AMERITAS VARIABLE LIFE INSURANCE COMPANY. IF YOU DO NOT HAVE A
CURRENT PROSPECTUS, PLEASE CONTACT AVLIC AT 1-800-745-1112.
<PAGE>
PART C
OTHER INFORMATION
Item 24. Financial Statements and Exhibits
a) Financial Statements:
The financial statements of the subaccounts of Ameritas Variable Life
Insurance Company Separate Account VA-2 and Ameritas Variable Life
Insurance Company are filed in Part B.
Subaccounts of Ameritas Variable Life Insurance Company Separate Account
VA-2:
- Report of Deloitte & Touche LLP, independent auditors.
- Statement of Net Assets as of December 31, 1999.
- Statement of Operations for the years ended December 31, 1999 and
1998.
- Statements of Changes in Net Assets for the years ended December 31,
1999 and 1998.
- Notes to Financial Statements for the years ended December 31, 1999
and 1998.
Ameritas Variable Life Insurance Company:
- Report of Deloitte & Touche LLP, independent auditors.
- Balance Sheets as of December 31, 1999 and 1998.
- Statements of Operations for the years ended December 31, 1999, 1998
and 1997.
- Statements of Comprehensive Income for the years ended December 31,
1999, 1998 and 1997.
- Statements of Stockholder's Equity for the years ended December 31,
1999, 1998 and 1997.
- Statements of Cash Flows for the years ended December 31, 1999, 1998
and 1997.
- Notes to Financial Statements for the years ended December 31, 1999,
1998 and 1997.
All schedules of Ameritas Variable Life Insurance Company for which provision is
made in the applicable accounting regulations of the Securities and Exchange
Commission are not required under the related instructions, are inapplicable or
have been disclosed in the Notes to the Financial Statements and therefore have
been omitted.
There are no financial statements included in Part A.
<PAGE>
b) Exhibits
Exhibit
Number Description of Exhibit
(1) Resolution of Board of Directors of Ameritas Variable Life
Insurance Company
Establishing Ameritas Variable Life Insurance Company
Separate Account VA-2.*
(2) Not applicable.
(3) (a) Principal Underwriting Agreement. *****
(3) (b) Form of Selling Agreement. **
(4) Form of Variable Annuity Contract.*
(5) Form of Application for Variable Annuity Contract.****
(6) (a) Articles of Incorporation of Ameritas Variable Life Insurance
Company.***
(6) (b) Bylaws of Ameritas Variable Life Insurance Company.****
(7) Not Applicable.
(8) (a) Participation Agreement (MFS).**
(b) Participation Agreement (Fidelity).***
(c) Participation Agreement (Alger American).***
(d) Participation Agreement (Morgan Stanley).**
(e) Participation Agreement (Calvert Variable Series, Inc.
Ameritas Portfolios).******
(f) Form of Participation Agreement (Calvert Variable Series,
Inc. Social Portfolios). ********
(g) Form of Participation Agreement (American Century Variable
Portfolios, Inc.). ********
(h) Form of Participation Agreement (INVESCO Variable Investment
Funds, Inc.). ********
(i) Form of Participation Agreement (Salomon Brothers Variable
Series Funds Inc.). ********
(j) Form of Participation Agreement (Summit Mutual Funds,
Inc.). ********
(k) Form of Participation Agreement (Third Avenue Variable Series
Trust.). ********
(8) Opinion and consent of Donald R. Stading.
(10) (a) Independent Auditors' Consent.
(11) No financial statements are omitted from Item 23.
(12) Not applicable.
(13) Schedule of Computation of Performance Quotations.*******
* Incorporated by reference to the initial registration statement for
Ameritas Variable Life Insurance Company Separate Account VA-2 (File
No. 33-14774), filed on June 2, 1987.
** Incorporated by reference to initial registration statement for
Ameritas Variable Life Insurance Company, Separate Account V File No.
333-15585, filed on November 5, 1996.
*** Incorporated by reference to pre-effective amendment to registration
statement for Ameritas Variable Life Insurance Company, Separate
Account V File No. 333-15585, filed on January 17, 1997.
**** Incorporated by reference to the registration statement for Ameritas
Variable Life Insurance Company, Separate Account VA-2, File No.
33-14774, filed on March 26, 1992.
***** Incorporated by reference to Post-Effective Amendment No. 20 to the
Registration Statement for Ameritas Variable Life Insurance Company
Separate Account VA-2, File No. 33-14774, filed on February 28, 1997.
****** Incorporated by reference to Post-Effective Amendment No. 5 to the
Registration Statement for Ameritas Variable Life Insurance Company
Separate Account V, File No. 333-15585, filed on August 30, 1999.
******* Incorporated by reference to Post-Effective Amendment No. 9 to the
Registration Statement for Ameritas Variable Life Insurance Company
Separate Account VA-2, file No. 33-98848, filed on March 1, 2000.
******** Incorporated by reference to Post-Effective Amendment No. 7 to the
Registration Statement for Ameritas Variable Life Insurance Company
Separate Account V, File No. 333-14845, filed November 22, 2000.
<PAGE>
Item 25. Directors and Officers of the Depositor
Name and Principal Position and Offices
Business Address with Depositor
------------------ ----------------------
Lawrence J. Arth* Director, Chairman of
the Board and Chief Executive Officer
William J. Atherton* Director, President and Chief Operating Officer
Kenneth C. Louis* Director and Executive
Vice President
Gary R. McPhail** Director and Executive
Vice President
Thomas C. Godlasky** Director, Senior Vice President and
Chief Investment Officer
JoAnn M. Martin* Director, Vice President and
Chief Financial Officer
Michael G. Fraizer** Director
Robert C. Barth Controller
Brian J. Clark** Vice President - Fixed Annuity Product Development
Raymond M. Gilbertson* Vice President - Corporate Compliance
Joseph K. Haggerty** Assistant General Counsel
Sandra K. Holmes** Vice President - Fixed Annuity Customer Service
Robert G. Lange* Assistant Secretary
Cynthia J. Lavelle* Vice President -
Product, Operations and Technology
William W. Lester* Treasurer
Mary Rutford* 2nd Vice President - Accounting
Sheila E. Sandy** Assistant Secretary
Thomas N. Simpson* Senior Vice President and National Sales Manager
Donald R. Stading* Secretary and General Counsel
Kevin J. Wagoner** Assistant Treasurer
* Principal business address: Ameritas Variable Life Insurance Company, 5900
"O" Street, Lincoln, Nebraska 68510.
** Principal business address: AmerUs Life Insurance Company, 611 Fifth
Avenue, Des Moines, Iowa 50309.
Item 26.
The depositor, Ameritas Variable Life Insurance Company, is wholly owned by AMAL
Corporation. The Registrant is segregated asset account of Ameritas Variable
Life Insurance Company.
The following chart indicates the persons controlled by or under common control
with Ameritas Variable Life Insurance Company:
(Omitted chart shows Ameritas Acacia organization. Ameritas Acacia Mutual
Holding Company is at the uppermost tier. Ameritas Holding Company is at the
second tier. Third tier entities are: Ameritas Life Insurance Corp. and Acacia
Life Insurance Company. Fourth tier companies under Ameritas Life Insurance
Corp. are: Ameritas Investment Advisors, Inc., Ameritas Managed Dental Plan,
Inc., First Ameritas Life Insurance Corp. of New York, AMAL Corporation, Veritas
Corp., and Pathmark Assurance Company. Fourth tier companies under Acacia Life
Insurance Company are: Acacia National Life Insurance Company and Acacia
Financial Corp. Fifth tier companies which are owned by AMAL Corporation are
Ameritas Investment Corp. and Ameritas Variable Life Insurance Company. Fifth
tier companies owned by Acacia Financial Corp. are Acacia Federal Savings Bank,
Calvert Group, Ltd. and its investment companies, and The Advisors Group, Inc.)
All Ameritas entries are Nebraska entities, except First Ameritas Life Insurance
Corp. of New York, which is a New York entity, and Ameritas Managed Dental Plan,
Inc., which is a California entity. Acacia Life Insurance Company is regulated
by the District of Columbia. Acacia National Life Insurance Company and Acacia
Financial Corp. are Virginia entities. Acacia Federal Savings Bank is regulated
by the U. S. Government. Calvert Group Ltd. and The Advisors Group, Inc. are
Delaware entities.
<PAGE>
All entities are wholly owned by the person immediately controlling it, except
AMAL Corporation, a holding company, which is jointly owned by Ameritas Life
Insurance Corp., which owns a majority interest in AMAL Corporation, and AmerUs
Life Insurance company, which owns a minority interest in AMAL Corporation. AMAL
Corporation and Acacia Financial Corp. are holding companies. Veritas Corp. is a
marketing agency. Pathmark Assurance Company is an insurance company.
Item 27. Number of Contractowners
As of October 23, 2000 there were 13,256 qualified contracts and
7,527 non-qualified contracts.
Item 28. Indemnification
Ameritas Variable Life Insurance Company's By-laws provide as follows:
"The Corporation shall indemnify any person who was, or is a party, or is
threatened to be made a party, to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative or investigative by
reason of the fact that he or she is or was a director, officer or employee of
the Corporation or is or was serving at the request of the Corporation as a
director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise, against expenses including attorney's fees,
judgments, fines and amounts paid in settlement actually and reasonably incurred
in connection with such action, suit or proceeding to the full extent authorized
by the laws of Nebraska."
Section 21-2004 of the Nebraska Business Corporation Act, in general,
allows a corporation to indemnify any director, officer, employee or agent of
the corporation for amount paid in settlement actually and reasonably incurred
by him or her in connection with an action, suit or proceeding, if he or she
acted in good faith and in a manner he or she reasonably believed to be in or
not opposed to the best interest of the corporation, and with respect to any
criminal action or proceeding, had no reasonable cause to believe his or her
conduct was unlawful.
In a case of a derivative action, no indemnification shall be made in
respect of any claim, issue or matter as to which such person shall have been
adjudged to be liable for negligence or misconduct in the performance of his or
her duty to the corporation, unless a court in which the action was brought
shall determine that such person is fairly and reasonably entitled to indemnify
for such expenses which the Court shall deem proper.
Insofar as indemnification for liability arising under the Securities Act
of 1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in
the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Act and will
be governed by the final adjudication of such issue.
Item 29. Principal Underwriters
1) Ameritas Investment Corp. which will serve as the principal
underwriter for the variable annuity contract issued through Ameritas
Variable Life Insurance Company Separate Account VA-2, also serves as
the principal underwriter for variable life insurance contracts issued
through Ameritas Variable Life Insurance Company Separate Account V,
and serves as the principal underwriter for variable life insurance
contract issued through Ameritas Life Insurance Corp. Separate Account
LLVL and First Ameritas Variable Life Separate Account and variable
annuity contracts issued through Ameritas Life Insurance Corp.
Separate Account LLVA and First Ameritas Variable Annuity Separate
Account. AIC is the underwriter for the Ameritas Portfolios and also
serves as its investment advisor.
<PAGE>
2) The following table sets forth certain information regarding the
officers and directors of the principal underwriter, Ameritas
Investment Corp.
Name and Principal Positions and Offices
Business Address and Underwriter
---------------- ---------------
Lawrence J. Arth* Director and Chairman of the Board
William R. Giovanni* Director, President and Chief Executive
Officer
Kenneth C. Louis* Director, Senior Vice President
Gary R. McPhail** Director, Senior Vice President
Michael G. Fraizer** Director
Thomas C. Godlasky** Director
Arthur W. Abts, Jr.*** Vice President - Public Finance
Billie B. Beavers*** Senior Vice President
Thomas C. Bittner* Vice President - Marketing and Administration
Alan R. Eveland* Vice President - Public Finance
James R. Fox*** Senior Vice President
Raymond M. Gilbertson* Vice President - Corporate Compliance
Richard S. Harmon*** Vice President - Public Finance
Michael P. Heaton*** Senior Vice President
William J. Janssen* Vice President - Retail Sales Manager
Scott D. Keene* Vice President - Public Finance
Robert G. Lange* Assistant Secretary
Bruce D. Lefler*** Vice President
William W. Lester* Treasurer
Robert W. Morrow* Vice President
Robert J. O'Meara* Assistant Treasurer
Wayne A. Rasmuss*** Vice President - Public Finance
John V. Scheer* Vice President Sales Manager - AIC/Ameritas
Michael E. Shoemaker** Vice President - Fixed Income, Trading and
Underwriting
Donald R. Stading* Secretary and General Counsel
John E. Trecek*** Vice President - Public Finance
Michael M. VanHorne*** Senior Vice President
Janell D. Winsor* Vice President
* Principal business address: Ameritas Investment Corp., 5900 "O" Street,
Lincoln, Nebraska 68510.
** Principal business address: AmerUs Life Insurance Company, 611 Fifth
Avenue, Des Moines, Iowa 50309.
*** Principal business address: Ameritas Investment Corp., 440 Regency Parkway
Drive, Suite 222, Omaha, Nebraska 68114.
<TABLE>
<CAPTION>
c) Net Underwriting Compensation
Name of Principal Discounts and on Brokerage
Underwriter (1) Commissions (2) Redemption (3) Commissions (4) Compensation (5)
------------------- ------------------ -------------- --------------- ----------------
<S> <C> <C> <C> <C>
Ameritas Investment
Corp. ("AIC") $22,532,640 $0 $46,847 $357,692
(2)+(4)+(5) = Gross variable annuity compensation received by AIC.
(2) = Sales compensation received and paid out by AIC as underwriter, AIC retains 0.
(4) = Sales compensation received by AIC for retail sales.
(5) = Sales compensation received by AIC and retained as underwriting fee.
</TABLE>
<PAGE>
Item 30. Location of Separate Account and Records
The Books, records and other documents required to be maintained by Section
31(a) of the 1940 Act and Rules 31a-1 to 31a-3 thereunder are maintained at
Ameritas Variable Life Insurance Company, 5900 "O" Street, Lincoln, Nebraska
68510.
Item 31. Management Services
Not Applicable.
Item 32. Undertakings
1) Registrant undertakes to file a post-effective amendment to this
registration statement as frequently as necessary to ensure that the
audited financial statement in the registration statement are never
more than 16 months old for so long as payment under the variable
annuity contracts my be accepted.
2) Registrant undertakes to include either (1) as part of any application
to purchase a contract offered by the prospectus, a space that an
applicant can check to request a Statement of Additional Information,
or (2) a post card or similar written communication affixed to or
included in the prospectus that the applicant can remove and send for
a Statement of Additional Information.
3) Registrant undertakes to deliver any Statement of Additional
Information and any financial statements required to be made available
under this form promptly upon written or oral request.
4) The registrant is relying upon the Division of Investment Management
(Division) no-action letter of November 28, 1988 concerning annuities
sold in 403 (b) plans and represents that the requirements of the
no-action letter have been, are and/or will be complied with.
5) Ameritas Variable Life Insurance Company represents that the fees and
charges deducted under the contract, in the aggregate, are reasonable
in relation to the services rendered, the expenses expected to be
incurred, and the risks assumed by the insurance company.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant,
Ameritas Variable Life Insurance Company Separate Account VA-2, certifies that
it meets all the requirements for effectiveness of this Post-Effective Amendment
No. 10 to the Registration Statement pursuant to Rule 485(b) under the
Securities Act of 1933 and has caused this Amendment to the Registration
Statement to be signed on its behalf by the undersigned thereunto duly
authorized in the City of Lincoln, County of Lancaster, State of Nebraska on
this 16th day of November, 2000.
AMERITAS VARIABLE LIFE INSURANCE COMPANY
SEPARATE ACCOUNT VA-2, Registrant
AMERITAS VARIABLE LIFE INSURANCE COMPANY, Depositor
Attest: /s/ Donald R. Stading By: /s/ Lawrence J. Arth
----------------------------- -----------------------------------------
Secretary Chairman of the Board
Pursuant to the requirements of the Securities Act of 1933, this Registration
Statement has been signed by the Directors and Principal Officers of Ameritas
Variable Life Insurance Company on the dates indicated.
SIGNATURE TITLE DATE
--------- ----- ----
/s/ Lawrence J. Arth Director, Chairman of November 16, 2000
------------------------------ the Board and
Lawrence J. Arth Chief Executive Officer
/s/ William J. Atherton Director, President and November 16, 2000
----------------------------- Chief Operating Officer
William J. Atherton
/s/ Kenneth C. Louis Director, Executive November 16, 2000
------------------------------ Vice President
Kenneth C. Louis
/s/ Gary R. McPhail Director, Executive November 16, 2000
------------------------------ Vice President
Gary R. McPhail
/s/ Thomas C. Godlasky Director, Senior November 16, 2000
----------------------------- Vice President
Thomas C. Godlasky and Chief Investment Officer
/s/ JoAnn M. Martin Director, Vice President November 16, 2000
----------------------------- and Chief Financial Officer
JoAnn M. Martin
<PAGE>
SIGNATURE TITLE DATE
--------- ----- ----
/s/ Michael G. Fraizer Director November 16, 2000
----------------------------
Michael G. Fraizer
/s/ Robert C. Barth Controller November 16, 2000
------------------------------
Robert C. Barth
/s/ William W. Lester Treasurer November 16, 2000
---------------------------
William W. Lester
/s/ Donald R. Stading Secretary and November 16, 2000
---------------------------- General Counsel
Donald R. Stading
<PAGE>
Exhibit Index
-------------
Exhibit
-------
9 Opinion and Consent of Donald R. Stading
10(a) Consent of Deloitte & Touche LLP
