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April 5, 2000
Dear Strategic Group Variable Universal Life(R) Policyowner:
This information below supplements Massachusetts Mutual Life Insurance Company's
Strategic Group Variable Universal Life(R) Prospectus dated May 1, 1999. Please
place this supplement with your Prospectus, and retain it for future reference.
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STRATEGIC GROUP VARIABLE UNIVERSAL LIFE(R)
Supplement dated April 5, 2000
to the Prospectus dated May 1, 1999
On March 3, 2000, Massachusetts Mutual Life Insurance Company ("MassMutual") and
several other applicants filed an application with the Securities and Exchange
Commission ("SEC") seeking an order approving the substitution of shares of
certain funds currently held by various divisions of Massachusetts Mutual
Variable Life Separate Account I, Specifically, MassMutual proposes to
substitute:
1. Shares of Oppenheimer Multiple Strategies Fund/VA for shares of Panorama
LifeSpan Balanced Portfolio which are currently held in the Panorama
LifeSpan Balanced Division;
2. Shares of Oppenheimer Main Street(R) Growth & Income Fund/VA for shares of
Panorama LifeSpan Capital Appreciation Portfolio which are currently held in
the Panorama LifeSpan Capital Appreciation Division; and
3. Shares of Oppenheimer Multiple Strategies Fund/VA for shares of Panorama
LifeSpan Diversified Income Portfolio which are currently held in the
Panorama LifeSpan Diversified Income Division.
The Oppenheimer Multiple Strategies Fund/VA and the Oppenheimer Main Street(R)
Growth & Income Fund/VA currently serve as investment options for Strategic
Group Variable Universal Life(R) policy owners. The investment objectives of the
Oppenheimer Multiple Strategies Fund/VA, and the Oppenheimer Main Street(R)
Growth & Income Fund/VA are summarized below. Strategic Group Variable Universal
Life(R) policy owners will receive a copy of the fund prospectuses before the
substitutions are implemented. Please read the prospectuses for these funds
carefully.
Oppenheimer Multiple Strategies Fund/VA seeks a total investment return,
which includes current income and capital appreciation in the value of its
shares. This Fund allocates its investments among common stocks, debt
securities, and money market instruments.
Oppenheimer Main Street(R) Growth & Income Fund/VA seeks total return,
which includes growth in the value of its shares as well as current income,
from equity and debt securities.
To the extent required by law, MassMutual will obtain approval of these proposed
substitutions from the state insurance departments in certain jurisdictions. If
the proposed substitutions are
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approved by the necessary regulatory authorities, MassMutual would implement the
proposed substitutions by having the affected divisions redeem its shares of the
Panorama LifeSpan Portfolios and purchase with the proceeds shares of the
Oppenheimer Multiple Strategies Fund/VA and the Oppenheimer Main Street(R)
Growth & Income Fund/VA. If implemented, the proposed substitutions would result
in the involuntary reinvestment of account value, if any, invested in the
Panorama LifeSpan Portfolios in the Oppenheimer Multiple Strategies Fund/VA and
the Oppenheimer Main Street(R) Growth & Income Fund/VA as described above. The
costs of the proposed substitutions will be borne by MassMutual, not the
Strategic Group Variable Universal Life(R) policy owners.
From the date of this supplement to the date the proposed substitutions are
implemented, MassMutual will permit each policy owner to make one transfer of
all of his/her account value in any of the Panorama LifeSpan Sub-Accounts
without that transfer counting as one of the 12 free transfers permitted in a
policy year.
Once MassMutual obtains all of the necessary regulatory approvals of the
proposed substitution, MassMutual will send Strategic Group Variable Universal
Life(R) policy owners another notification indicating that fact and identifying
an implementation date for the substitution. If MassMutual cannot obtain all of
the necessary regulatory approvals, MassMutual will notify Strategic Group
Variable Universal Life(R) policy owners that the proposed substitution will not
be implemented.
