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Previous: COVA VARIABLE ANNUITY ACCOUNT ONE, 497, 1999-03-08 |
Next: JB OXFORD HOLDINGS INC, 8-K, 1999-03-08 |
COVA FINANCIAL SERVICES LIFE INSURANCE COMPANY
COVA VARIABLE ANNUITY ACCOUNT ONE
Supplement dated June 1, 1998
to Prospectus dated May 1, 1998
The following supplements the information in your prospectus for the variable
annuity contracts issued by Cova Financial Services Life Insurance Company and
Cova Variable Annuity Account One.
In addition to the investment portfolios listed in the prospectus, the following
investment portfolios are also available under your contract:
Oppenheimer Variable Account Funds:
Managed by OppenheimerFunds, Inc.
Oppenheimer High Income Fund
Oppenheimer Bond Fund
Oppenheimer Growth Fund
Oppenheimer Growth & Income Fund
Oppenheimer Strategic Bond Fund
Oppenheimer Variable Account Funds is a mutual fund with multiple portfolios.
OppenheimerFunds, Inc. is the investment adviser to each portfolio.
<TABLE>
<CAPTION>
The Cova Variable Annuity Account One Fee Table - Investment Portfolio Expenses
and Examples are supplemented as follows:
Management 12b-1 Other Total Annual
Fees Fees Expenses Portfolio Expenses
---- ---- -------- ------------------
Oppenheimer Variable Account Funds
Managed by OppenheimerFunds, Inc.
<S> <C> <C> <C>
Oppenheimer High Income .75% - - .07% .82%
Oppenheimer Bond .73% - - .05% .78%
Oppenheimer Growth .73% - - .02% .75%
Oppenheimer Growth & Income .75% - - .08% .83%
Oppenheimer Strategic Bond .75% - - .08% .83%
</TABLE>
<TABLE>
<CAPTION>
Examples:
Oppenheimer Variable Account Funds
Managed by OppenheimerFunds, Inc. Time Periods
1 year 3 years
------ -------
Oppenheimer High Income
<S> <C> <C>
(a) $ 73.50 (a) $117.26
(b) $ 23.50 (b) $ 72.26
Oppenheimer Bond
(a) $ 73.10 (a) $116.05
(b) $ 23.10 (b) $ 71.05
Oppenheimer Growth
(a) $ 72.80 (a) $115.15
(b) $ 22.80 (b) $ 70.15
Oppenheimer Growth & Income
(a) $ 73.60 (a) $117.56
(b) $ 23.60 (b) $ 72.56
Oppenheimer Strategic Bond
(a) $ 73.60 (a) $117.56
(b) $ 23.60 (b) $ 72.56
</TABLE>
The Appendix - Performance Information - Part 2 is supplemented with the
following information for Oppenheimer Variable Account Funds:
<TABLE>
<CAPTION>
Total Return for the periods ended 12/31/97
Accumulation Unit Performance
Column B Column C
(reflects insurance (reflects all charges
Portfolio Performance charges and and portfolio
Column A portfolio expenses) expenses)
Portfolio 10 yrs or 10 yrs or 10 yrs or
Inception since since since
Portfolio Date 1 yr 5 yrs inception 1 yr 5 yrs inception 1 yr 5 yrs inception
- --------- ---- ---- ----- --------- ---- ----- --------- ---- ----- ---------
Oppenheimer
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
High Income 4/30/86 12.21% 13.75% 14.32% 10.81% 12.35% 12.92% 5.71% 7.75% 12.82%
Oppenheimer Bond 4/3/85 9.25% 8.23% 9.50% 7.85% 6.83% 8.10% 2.75% 2.23% 8.00%
Oppenheimer Growth 4/3/85 26.68% 18.61% 16.67% 25.28% 17.21% 15.27% 20.18% 12.61% 15.17%
Oppenheimer
Growth & Income 7/5/95 32.48% - - 37.24% 31.08% - - 35.84% 25.98% - - 31.24%
Oppenheimer
Strategic Bond 5/3/93 8.71% - - 7.64% 7.31% - - 6.24% 2.21% - - 1.64%
</TABLE>
CL-4056 (6/98)
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