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AUSA LIFE INSURANCE COMPANY, INC.
SEPARATE ACCOUNT B
SUPPLEMENT DATED NOVEMBER 9, 1998
TO THE
PROSPECTUS DATED OCTOBER 1, 1998
FOR THE
VANGUARD VARIABLE ANNUITY PLAN CONTRACT
OFFERED BY
AUSA LIFE INSURANCE COMPANY, INC.
(A NEW YORK STOCK COMPANY)
The following instructions replace the wiring instructions found in the pro-
spectus.
MONEY SHOULD BE WIRED TO:
First Union National Bank
ABA 031201467
Deposit Account Number 2014126522964
AUSA Life Insurance Company, Inc. and The Vanguard
Group, Inc.
[YOUR CONTRACT NUMBER]
[YOUR CONTRACT REGISTRATION]
PLEASE CALL: 1-800-258-4271
BEFORE WIRING
* * * *
Free Look Period for Replacements
Effective November 10, 1998, if the Contract Owner is purchasing a Contract
as a replacement of an existing annuity contract or life insurance or endow-
ment policy, a Free Look Period exists for 60 days after the Contract Owner
receives the Contract plus 5 days for mailing. (If the purchase is not a re-
placement, the Free Look Period is 20 days after the Contract Owner receives
the Contract plus 5 days for mailing.) The Contract Owner may cancel the Con-
tract during the Free Look Period by returning the Contract to the Vanguard
Variable Annuity Center, P.O. Box 1103, Valley Forge, PA 19482-1103. Upon can-
cellation of a replacement Contract, the Contract is treated as void from the
Contract Date and the Contract Owner will receive the greater of the Purchase
Payments made under the Contract and any fees or other charges or the Accumu-
lated Value of the Contract as of the day the Contract is received by the Com-
pany. If the amount returned is based on Purchase Payments, the Contract Owner
will also receive the amount of any mortality and expense risk charges and ad-
ministrative charges exacted to date. On the other hand, if the amount re-
turned is based on the Accumulated Value, the Contract Owner will also receive
the amount of any prorated annual maintenance fee and the amount of any mor-
tality and expense risk charges and administrative expenses exacted to date.
(The prorated annual maintenance fee is already included when calculating the
amount returned based on Purchase Payments.)
Reinstatements
The Company occasionally receives requests to reinstate funds that had been
transferred to another company via an exchange under Code Section 1035 or a
trustee-to-trustee transfer under the Code. In this situation, the Company
will require the Contract Owner to replace the same total amount of money in
the applicable Subaccounts as was taken from them to effect the transfer. The
total dollar amount of funds reapplied to the Separate Account will be used to
purchase a number of Accumulation Units available for each Subaccount based on
the Accumulation Unit Values at the date of Reinstatement (within two days of
the date the funds were received by the Company). It should be noted that the
number of Accumulation Units available on the Reinstatement date may be more
or less than the number surrendered for the transfer. Contract Owners should
consult a qualified tax adviser concerning the tax consequences of any Code
Section 1035 exchanges or reinstatements.
PSFUNY-11/9/1998
