<PAGE>
QUALITY STATEMENT
FORTIS BENEFITS INSURANCE COMPANY
Established in 1910, Fortis Benefits Insurance Company offers annuities,
life and health insurance in 49 states and the District of Columbia. Today,
Fortis Benefits has more than $5.1 billion in assets and over $86 billion of
insurance in force.
Fortis Benefits is part of Fortis, Inc., a financial services company that
owns or manages approximately $11 billion* in assets. Fortis Inc., is part of
Fortis, a worldwide group of companies active in the fields of insurance,
banking and investments with assets in excess of $140 billion.* Fortis is
jointly owned by Fortis AMEV of the Netherlands and Fortis AG of Belgium.
The general account of Fortis Benefits backs the principal and interest of
its annuities; the fixed accounts and principal guarantees of its variable
annuities; and the guarantees of its life and health insurance policies.
The general account portfolio is notable for its strength, liquidity, high
quality and stability. The company's assets are predominately investment
grade bonds. The mortgage component is consists of conservative, well-secured
loans. Fortis Benefits has no long-term or short-term debt.
ANALYSIS OF INVESTED ASSETS
DECEMBER 31, 1995
$5.1 BILLION
BONDS 70.7%
CASH/SHORT-TERM 5.2%
POLICY LOANS 1.8%
REAL ESTATE 0.4%
EQUITY SECURITIES 2.7%
MORTGAGES 19.2%
Fortis Benefits Insurance Company is Rated A (Excellent) by A.M. Best
(April 29, 1996) based on its claims paying ability.
PROSPECTUS SUPPLEMENT DATED MAY 24, 1996
TO FORTIS BENEFITS INSURANCE COMPANY
FORTIS MASTERS VARIABLE ANNUITY
PROSPECTUS DATED MAY 1, 1996
* Assets as of 12/31/95
97352 [5/96] FORTIS-Registered Trademark- and Fortis-Registered Trademark-
are registered servicemarks of Fortis AMEV and Fortis AG
