VANGUARD VARIABLE INSURANCE FUND, 497, 1995-09-25

VANGUARD VARIABLE INSURANCE FUND
497, 1995-09-25

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                        VANGUARD VARIABLE INSURANCE FUND
                             PROSPECTUS SUPPLEMENT
                               SEPTEMBER 25, 1995

Effective September 25, 1995, Mr. Ernst von Metzsch, a Senior Vice
President of Wellington Management Company, has been appointed interim
portfolio manager of the Vanguard Variable Insurance Fund-Balanced
Portfolio. Mr. von Metzsch has more than 25 years of investment experience
and has served as a key member of the Portfolio's investment team since its
inception. He replaces Mr. Vincent Bajakian who died unexpectedly on
September 24, 1995.

                                                    PVIA