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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 new requirements, the Company will no longer require Separate
Account allocations by California senior citizens age 60 and older to be held in
Subaccount 204 (which invests in the Money Market Series) for 34 days following
the date of issue of the Policy. The third sentence of the third paragraph on
page 18 of the Prospectus is therefore deleted. If the Policy is issued as an
IRA, all Separate Account allocations will be held in Subaccount 204 for the
first 14 days following the date of issue.
SUPPLEMENT DATED NOVEMBER 13, 1995
