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FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Report for six month period ending: // (a)
or fiscal year ending: 12/31/98 (b)
Is this a transition report (Y/N) N
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Is this an amendment to a previous filing (Y/N) N
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Those items or sub-items with a box "/ /" after the item number should be
completed only if the answer has changed from the previous filing on this
form.
1. A. Registrant Name: Separate Account VUL-2 of The American Franklin
Life Insurance Company
B. File Number: 811-6366
C. Telephone Number: (217) 528-2011
2. A. Street: #1 Franklin Square
B: City: Springfield C. State: IL D. Zip Code: 62713 Zip Ext: 0001
E. Foreign Country: Foreign Postal Code:
3. Is this the first filing on this form by Registrant? (Y/N) N
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4. Is this the last filing on this form by Registrant? (Y/N) N
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5. Is Registrant a small business investment company (SBIC)? (Y/N) N
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[If answer is "Y"(Yes), complete only items 89 through 110.]
6. Is Registrant a unit investment trust (UIT)? (Y/N) Y
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[If answer is "Y" (Yes) complete only items 111 through 132.]
01 SEC 2100(10-94)
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For period ending December 31, 1998
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File number 811-6366
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UNIT INVESTMENT TRUSTS
111. A. - Depositor Name:_____________________________________________________
B. - File Number (If any):______________________
C. - City:____________ State:__________ Zip Code:_________ Zip Ext.:______
- Foreign Country:__________________ Foreign Postal Code:______________
111. A. - Depositor Name:______________________________________________________
B. - File Number (If any):_________________________
C. - City:_____________ State:_________ Zip Code:_________ Zip Ext.______
- Foreign Country:________________ Foreign Postal Code:________________
112. A. - Sponsor Name:________________________________________________________
B. - File Number (If any):______________________
C. - City:______________State:__________Zip Code:________Zip Ext.:________
Foreign Country:_____________________Foreign Postal Code:____________
A. - Sponsor Name:________________________________________________________
B. - File Number (If any)____________________________
C. - City:______________ State: ___________ Zip Code:_______ Zip Ext.:____
- Foreign Country:________________ Foreign Postal Code:________________
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For period ending December 31, 1998
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File number 811-6366
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113. A. - Trustee Name:_______________________________________________________
B. - City:_____________ State:__________ Zip Code: ______ Zip Ext.:______
- Foreign Country:_______________ Foreign Postal Code:________________
113. A. - Trustee Name:_______________________________________________________
B. - City:_____________ State:__________ Zip Code: ______ Zip Ext.:______
- Foreign Country:_______________ Foreign Postal Code:________________
114. A. - Principal Underwriter Name: ________________________________________
B. - File Number: 8-_______________
C. - City:_____________ State:__________ Zip Code:_______ Zip Ext.:______
- Foreign Country:__________________ Foreign Postal Code:_____________
114. A. - Principal Underwriter Name: ________________________________________
B. - File Number: 8-_______________
C. - City:_____________ State:__________ Zip Code:_______ Zip Ext.:_______
- Foreign Country:__________________ Foreign Postal Code:______________
115. A. - Independent Public Accountant Name:__________________________________
B. - City:______________ State:_________ Zip Code:________ Zip Ext.:______
- Foreign Country:____________________ Foreign Postal Code:____________
115. A. - Independent Public Accountant Name:__________________________________
B. - City:_____________ State:__________ Zip Code:________ Zip Ext.:______
- Foreign Country:_____________________ Foreign Postal Code:___________
48
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For period ending December 31, 1998
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File number 811-6366
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116. Family of investment companies information:
A. - Is Registrant part of a family of investment companies? (Y/N)_____ ___
Y/N
B. - Identify the family in 10 letters: _ _ _ _ _ _ _ _ _ _
(NOTE: In filing this form, use this identification consistently
for all investment companies in family. This designation is for
purposes of this form only.)
117. A. - Is Registrant a separate account of an insurance company?
(Y/N) ________ _____
Y/N
If answer is "Y" (Yes), are any of the following types of contracts funded
by the Registrant?:
B. - Variable annuity contracts? (Y/N) _________________________ ________
Y/N
C. - Scheduled premium variable life contracts? (Y/N) __________ ________
Y/N
D. - Flexible premium variable life contracts? (Y/N) ___________ _______
Y/N
E. - Other types of insurance products registered under the Securities
Act of 1933? (Y/N) ________ ________
Y/N
118. - State the number of series existing at the end of the period that
had securities registered under the Securities Act
of 1933___________________________________ _________
119. - State the number of new series for which registration statements
under the Securities Act of 1933 became effective during the
period _________________________ _______
120. - State the total value of the portfolio securities on the date of
deposit for the new series included in item 119 ($000's
omitted) ________________________________ $______
121. - State the number of series for which a current prospectus was in
existence at the end of the period ________________________ ________
122. - State the number of existing series for which additional units were
registered under the Securities Act of 1933 during the current
period ____________________ __________
49
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For period ending December 31, 1998
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File number 811-6366
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123. - State the total value of the additional units considered
in answering item 122 ($000's
omitted)___________________________________________
$82860
________
124. - State the total value of units of prior series that were
placed in the portfolios of subsequent series during the
current period (the value of these units is to be measured
on the date they were placed in the subsequent series)
($000's omitted)________________________________________
$_________
125. - State the total dollar amount of sales loads collected
(before reallowances to other brokers or dealers) by
Registrant's principal underwriter and any underwriter
which is an affiliated person of the principal underwriter
during the current period solely from the sale of units of
all series of Registrant ($000's omitted)
_____________________________________
$_________
126. Of the amount shown in item 125, state the total dollar
amount of sales loads collected from secondary market
operations in Registrant's units (include the sales loads,
if any, collected on units of a prior series placed in the
portfolio of a subsequent series.)
($000's omitted)_________________
$_________
127. List opposite the appropriate description below the number
of series whose portfolios are invested primarily (based
upon a percentage of NAV) in each type of security shown,
the aggregate total assets at market value as of a date at
or near the end of the current period of each such group of
series and the total income distributions made by each such
group of series during the current period (excluding
distributions of realized gains, if any):
Total Total Income
Number of Assets Distributions
Series ($000's ($000's
Investing omitted) omitted)
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A. U.S. Treasury direct issue _____________ _________ $________ $_________
B. U.S. Government agency__________________ _________ $________ $_________
C. State and municipal tax-free ___________ _________ $________ $_________
D. Public utility debt ____________________ _________ $________ $_________
E. Brokers or dealers debt or debt of
brokers' or dealers' parent ____________ _________ $________ $_________
F. All other corporate intermed. & long-term
debt ____________________ _________ $________ $_________
G. All other corporate short-term
debt ___________________ _________ $________ $_________
H. Equity securities of brokers or dealers or
parents of brokers or dealers ___________ _________ $________ $_________
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For period ending December 31, 1998
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File number 811-6366
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TOTAL TOTAL INCOME
NUMBER OF ASSETS DISTRIBUTIONS
SERIES ($000'S ($000'S
INVESTING OMITTED) OMITTED)
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I. Investment company equity
securities ____________________________ _________ $________ $_________
J. All other equity securities ___________ 1 $260246 $16913
_________ _________ __________
K. Other securities ______________________ _________ $________ $_________
L. Total assets of all series of
registrant_____________________________ 1 $260246 $16913
_________ _________ __________
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For period ending December 31, 1998
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File number 811-6366
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128. - Is the timely payment of principal and interest on any of the
portfolio securities held by any of Registrant's series at
the end of the current period insured or guaranteed by an
entity other than the issuer?
(Y/N)_________________________________________________________ ________
[If answer is "N" (No), go to item 131.] Y/N
129. - Is the issuer of any instrument covered in item 128 delinquent
or in default as to payment of principal or interest at the
end of the current period? (Y/N) ________
[If answer is "N" (No), go to item 131.] Y/N
130. - In computations of NAV or offering price per unit, is any part
of the value attributed to instruments identified in item 129
derived from insurance or guarantees?
(Y/N)_________________________________________________________ ________
Y/N
131. Total expenses incurred by all series of Registrant during the
current reporting period ($000's omitted)_____________________ $1639
_______
132. - List the "811" (Investment Company Act of 1940) registration
number for all Series of Registrant that are being included
in this filing:
811-__________
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For period ending 12/31/98
File number 811-6366
This report is signed on behalf of the Registrant, Separate Account VUL-2 of The
American Franklin Life Insurance Company, in the City of Springfield and State
of Illinois on this 23rd day of February, 1999.
SEPARATE ACCOUNT VUL-2 OF THE
AMERICAN FRANKLIN LIFE INSURANCE
COMPANY
BY: THE AMERICAN FRANKLIN LIFE
INSURANCE COMPANY, DEPOSITOR
By: /s/ William A. Simpson
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William A. Simpson
Chairman and Chief
Executive Officer
Witness /s/ Elizabeth E. Arthur
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Elizabeth E. Arthur
Assistant Secretary
PAGE NUMBER 52
