KEYPORT KEYSELECT ANNUITY
SUPPLEMENT DATED DECEMBER 13, 1996
TO
PROSPECTUS DATED NOVEMBER 15, 1996
The following sentence is added after the second sentence of
"Death Benefit" on page 4:
If the Term that includes the date of death is for the
Indexed Account and the Term's Floor is equal to 0%,
the "(a)" value will recalculated by Keyport and the
new value will be the same or higher.
The third complete sentence on page 14 is changed to read:
The death benefit is the greatest of the following
three values: (a) the Certificate Value; (b) the
Certificate Withdrawal Value; or (c) the Account Value,
except that if the Term that includes the date of death
is for the Indexed Account and the Term's Floor is
equal to 0%, the third value is instead (i) minus (ii),
where:
(i) is the Indexed Account Value at the start of the
Account Year in which death occurs, with any
applicable Index Increase (described on page 50)
recalculated as follows: "E" is equal to "F" and "(B-
D)" is multiplied by the sum of 1.0 plus the number of
Account Years from the start of the Year of death to
the end of the Term; except that if death occurs in
the last Account Year of the Indexed Term and the
Designated Beneficiary's surrender occurs after the
end of that Term, (i) is instead the Indexed Account
Value at the end of that Term; and
(ii) is the sum of any partial surrenders since the
start of the Account Year of death.
The second paragraph of "Market Value Adjustment" on page 52 is
changed to read:
The Treasury Rate for an Account is the interest rate
in the Treasury Constant Maturity Series as published
by the Federal Reserve Board, for a maturity equal to
the number of years specified in "a" and "b". Weekly
Series are published at the beginning of the following
week. To determine "a", Keyport uses the weekly Series
first published on or after the most recent
Determination Date which occurs on or before the first
day of the Account's current term, except that if the
first day is the same as the Determination Date or
the date of publication, or any date in between,
Keyport instead uses the weekly Series first published
after the prior Determination Date. To determine "b",
Keyport uses the weekly Series first published on or
after the most recent Determination Date which occurs
on or before the date on which the Market Value
Adjustment Factor is calculated, except that if the
calculation date is the same as the Determination
Date or the date of publication, or any date in
between, Keyport instead uses the weekly Series first
published after the prior Determination Date. The
Determination Dates are the last business days prior
to the first and fifteenth days of each month.
Client Service Hotline
800-367-3653 (press 3)
Distributed by:
Keyport Financial Services Corp.
125 High Street
Boston, Massachusetts 02110
ckussf.nam
