June 27, 1996
United States Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Re: Rule 24f-2 Notice for Banner Life Variable
Account of Banner Life Insurance Company
Registration No. 33-19236
Ladies and Gentleman:
Pursuant to Rule 24f-2 under the Investment Company Act of 1940, as amended,
you are hereby notified that:
1.) the Banner Life Variable Account fiscal year for which this Notice
is filed is the calendar year ended December 31, 1995;
2.) the amount of Banner Life Variable Account securities which had
been registered under the Securities Act of 1933 other than
pursuant to Rule 24f-2 but which remained unsold at the beginning
of such fiscal year was $-0-;
3.) the amount of Banner Life Variable Account securities registered
during such fiscal year other than pursuant Rule 24f-2 was: $-0-;
4.) the amount of Banner Life Variable Account securities sold during
such fiscal year was: $2,819,346; and
5.) the amount of Banner Life Variable Account securities sold during
such fiscal year in reliance upon registration pursuant to Rule
24f-2 was $2,819,346.
Attached hereto is an opinion of counsel as required. The filing fee of
$972.19 has been electronically submitted for payment based upon aggregate net
premiums of $2,819,346.
Sincerely,
/s/Mark A. Canter
Mark A. Canter
Vice President, Secretary
and General Counsel
cc: Frederick R. Bellamy, Esq.<PAGE>
June 27, 1996
United States Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Re: Rule 24f-2 Notice for Banner Life Variable
Account of Banner Life Insurance Company
Registration No. 33-19236
Ladies and Gentleman:
It is my opinion that the securities issued in accordance with the captioned
filing and which this Notice makes definite in number were legally issued and
non-assessable. They were not fully paid, however, since the variable life
contracts issued in connection with the banner Life Variable Account
contemplate the payment of additional premiums.
Very truly yours,
/s/Mark A. Canter
Mark A. Canter
Vice President, Secretary
and General Counsel
cc: Frederick R. Bellamy, Esq.
