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MERRILL LYNCH INVESTOR LIFE(SM)
MERRILL LYNCH INVESTOR LIFE PLUS(SM)
MERRILL LYNCH ESTATE INVESTOR I(SM)
MERRILL LYNCH ESTATE INVESTOR II(SM)
Issued by
MERRILL LYNCH LIFE INSURANCE COMPANY
Merrill Lynch Variable Life Separate Account
SUPPLEMENT DATED JULY 22, 1999
TO THE
PROSPECTUSES DATED MAY 1, 1999
NEW INVESTMENT DIVISIONS. Effective July 22, 1999, you can allocate premium
payments and investment base to the investment divisions corresponding to:
- the Capital Focus Fund of the Merrill Lynch Variable Series Funds,
Inc. (the "Variable Series Funds");
- the Global Growth Focus Fund of the Variable Series Funds;
- the Quasar Portfolio of the Alliance Variable Products Series
Fund, Inc. (the "Alliance Fund");
- the International VIP Portfolio of the Hotchkis and Wiley Variable
Trust (the "Hotchkis and Wiley Trust");
- the Mercury V.I. U.S. Large Cap Fund of Mercury Asset Management
V.I. Funds, Inc. (the "Mercury V.I. Funds"); and
- a series of The Merrill Lynch Fund of Stripped ("Zero") U.S.
Treasury Securities (the "Zero Trust") maturing on February 15,
2019.
The investment objectives and annual expenses of each of these funds and the
Zero Trust are described in your variable life contract prospectus dated May 1,
1999. For more complete information about the funds and the Zero Trust,
including the risks associated with each, please refer to their current
prospectuses. Current prospectuses for the Variable Series Funds, the Alliance
Fund, the Hotchkis and Wiley Trust, the Mercury V.I. Funds, and the Zero Trust
were previously distributed to you with your variable life contract prospectus.
CLOSED INVESTMENT DIVISIONS. Effective July 22, 1999, you can no longer allocate
premium payments and investment base to the investment divisions corresponding
to:
- the Global Bond Focus Fund of the Variable Series Funds; and
- the International Equity Focus Fund of the Variable Series Funds.
However, if you have any investment base in these divisions at the time they
are closed, you are not required to reallocate it to other investment divisions.
DOLLAR COST AVERAGING. Effective August 18, 1999, you can begin the optional
dollar cost averaging program described in your variable life contract
prospectus.
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Please retain this supplement with your variable life contract prospectus for
reference. For additional information, please contact your Financial Consultant
or call our Service Center at (800) 354-5333.
SUPPML-1 (7/99)
