Flexible Premium Variable Life Insurance Contract
(Variable Survivorship Life)
Issued by
Midland National Life Insurance Company
(through Midland National Life Separate Account A)
Supplement dated September 14, 2000
to Prospectus dated May 1, 2000
The Midland Variable Survivorship Life now includes the following five new
investment options.
- Alger American Small Capitalization Portfolio
- Alger American MidCap Growth Portfolio
- Alger American Growth Portfolio
- Alger American Leveraged AllCap Portfolio
- Fidelity Variable Insurance Products Fund Mid Cap Portfolio
The Investment Objectives of the five newly available mutual fund portfolios
are as follows:
Portfolio Objective
Alger American Small Capitalization Portfolio Seeks long term capital
appreciation by focusing on
small, fast growing companies
that offer innovative products,
services or technologies to a
rapidly expanding marketplace.
Under normal circumstances, the
Portfolio invests primarily in
the equity securities of small
capitalization companies. A
small capitalization company is
one that has a market
capitalization within the range
of the Russell 2000 Growth
Index(r) or the S&P SmallCap 600
Index(r).
Alger American MidCap Growth Portfolio Seeks long term capital
Appreciation by focusing on
midsize companies with promising
growth potential. Under normal
circumstances, the portfolio
invests primarily in the equity
securities of companies in the
S&P MidCap 400 Index(r).
Alger American Growth Portfolio Seeks long term capital
appreciation by focusing on
growing companies that generally
have broad product lines,
markets, financial resources
and depth of management. Under
normal circumstances the
portfolio invests primarily in
the equity securities of large
companies. The portfolio
considers a large company to
have a market capitalization of
$1 billion or greater.
Alger American Leveraged AllCap Portfolio Seeks long term capital
Appreciation by investing, under
normal circumstances, in the
equity securities of companies
of any size which demonstrate
promising growth potential. The
portfolio can leverage, that it,
borrow money, up to one-third
of its total assets to buy
additional securities. By
borrowing money, the portfolio
has the potential to increases
its returns if the increase in
the value of the securities
purchased exceeds the cost of
borrowing, including interest
paid on the money borrowed.
Fidelity Variable Insurance invests same investment objectives and policies
and a very similar or nearly identical name.
This Prospectus Supplement provides very limited information about the two
newly available fund portfolios. The prospectuses for these portfolios,
which accompany this Prospectus Supplement, describe the investment
objectives, policies and risks of the portfolio. The information in this
Prospectus Supplement is qualified in its entirety by the information
included in the Prospectus for the Variable Survivorship Life and the
prospectus for the five new portfolios.
In addition to the fees and charges deducted under the contracts (described
in the prospectus for the Variable Survivorship Life), certain fees aVariable
Survivorship Life and the prospectus for the individual portfolios.
This Prospectus Supplement must be accompanied or preceded by the Prospectus
dated May 1, 2000 for the Variable Survivorship Life and by the Prospectus
dated May 1, 2000 for each Fund portfolio listed above.
As with all the Fund portfolios described in your May 1, 2000 prospectus,
the Fund Portfolios described above are not available for purchase directly
by the general public, and are not the same as the mutual funds with very
similar or nearly identical names that are sold directly to the public.
However, the investment objectives and policies of the portfolios are very
similar to the investment objectives and policies of other (publicly
available) mutual fund portfolios that have very similar or nearly
iden be managed by the same adviser or manager. Nevertheless, the
investment performance and results of the above two Fund Portfolios may be
lower, or higher than the investment results of any of the other (publicly
available) available portfolios. There can be no assurance and no
representation is made, that the investment results of any of the available
portfolios will be comparable to the investment results of any other
portfolio or mutual fund, even if the other portfolio or mutual fund has the
same his reimbursement arrangement at any time. Without this reimburs
rsement, the other expenses and total expenses would have been:
Other Total
Expenses Expenses
VIP Mid Cap 2.77% 3.34%
(3) A portion of the brokerage commissions that the fund pays is used to
reduce this fund's expenses. In addition, through arrangements with each
fund's custodian, credits realized as a result of uninvested cash balances
are used to reduce custodian expenses
The illustrations of Contract Funds, Cash Surrender Vbursement, the other
expenses and total expenses would have been:
Other Total
Expenses Expenses
VIP Mid Cap 2.77% 3.34%
(3) A portion of the brokerage commissions that the fund pays is used to reduce
this fund's expenses. In addition, through arrangements with each fund's
custodian, credits realized as a result of uninvested cash balances are used
to reduce custodian expenses
The illustrations of Contract Funds, Cash Surrender Values and Death
Benefits listed in the Appendix of your Variable Survivorship Life
prospectus dated May 1, 2000 assume an average Portfolio Annual Expense
which does not recognize the expenses of the five new funds discussed above.
The average Portfolio Annual Expense as of December 31, 1999 which includes
the five new funds is 0.81%. The 0.81% is higher than the 0.79% average
annual expense stated in your May 1, 2000 prospectus. The use of the higher
contract fund values and cash surrender values which are shown in your
prospectus, but the difference in values is not significant. However, if
you would like to obtain a new illustration for the example given in the
prospectus, please ask your agent or contact Midland National Life at the
toll free number (800) 272-1642.
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