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SUPPLEMENT DATED JANUARY 1, 1996
TO THE PROSPECTUS DATED MAY 1, 1995
FOR
MERRILL LYNCH FUNDS RETIREMENT PLUS
ISSUED BY
MERRILL LYNCH LIFE INSURANCE COMPANY
Every Retirement Plus variable annuity contract is subject to a $40 annual
Contract Maintenance Change. (See CHARGES AND DEDUCTIONS - Contract Maintenance
Charge on page 20).
Currently, contract owners owning more than two Retirement Plus contracts will
be assessed no more than $120 in Contract Maintenance Charges annually,
regardless of the number of Retirement Plus contracts they own. Once $120 in
Retirement Plus Contract Maintenance Charges has been paid in a calendar year
by any contract owner, remaining Retirement Plus Contract Maintenance Charges
to which that contract owner would otherwise be subject in the same calendar
year will be waived.
Merrill Lynch Life Insurance Company reserves the right to discontinue the $120
cap for calendar years after 1996.
