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PROSPECTUS SUPPLEMENT
Separate Account VA-K
(Supplement to prospectus dated May 1, 1995)
CALIFORNIA "FREE LOOK"
Due to changes in California's "free-look" provisions, California Policy
Owners may now surrender the Policy at any time between the date of
application and the date 10 days after receipt of the Policy. The Company
will pay to the Policy Owner an amount equal to the sum of (i) the difference
between the purchase payments paid, including fees, and any amount allocated
to a Separate Account and (ii) the Accumulated Value of the Policy (on the
date the surrender request is received by the Company) attributable to any
amount allocated to a Subaccount. This refund right applies for 30 days to
California residents age 60 years or older; provided, however, that if the
Policy is issued as an IRA, the refund right described under the caption
"RIGHT TO REVOKE INDIVIDUAL RETIREMENT ANNUITY" is applicable for the first
10 days. The refund right described under the caption "RIGHT TO REVOKE
INDIVIDUAL RETIREMENT ANNUITY" is also applicable to all other California
policies issued as IRAs.
Because of the the new requirements, the Company will no longer require
Separate Account allocations by California senior citizens age 60 and older
to be held in Subaccount 3 (which invests in the Money Market Fund of the
Trust) for 34 days following the date of issue of the Policy. The third
sentence of the second paragraph on page 30 of the Prospectus is therefore
deleted. If the Policy is issued as an IRA, all Separate Account allocations
will be held in Subaccount 3 for the first 14 days following the date of
issue.
SUPPLEMENT DATED NOVEMBER 13, 1995
