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PROVIDIAN LIFE AND HEALTH INSURANCE COMPANY
SEPARATE ACCOUNT V
SUPPLEMENT DATED DECEMBER 5, 1997
TO THE
PROSPECTUS DATED APRIL 30, 1997
AS SUPPLEMENTED ON JUNE 13, 1997
FOR THE
PGA RETIREMENT ANNUITY
OFFERED BY PROVIDIAN LIFE AND HEALTH INSURANCE COMPANY
(A MISSOURI STOCK COMPANY)
Effective December 1, 1997, the name of Providian Series Trust has been changed
to PB Series Trust. There has been no other change to the Trust.
* * * * *
Effective December 1, 1997, the name of Providian Investment Advisors, Inc. has
been changed to PB Investment Advisors, Inc.
* * * * *
Effective January 1, 1998, if the state of issue of your Contract is CA, your
initial Net Purchase Payment(s) will, unless you indicate otherwise, be invested
in your Portfolio(s) immediately upon our receipt thereof, in which case you
will bear full investment risk for any amounts allocated to the Portfolios
during the Right to Cancel Period. This means that your initial Net Purchase
Payment(s) will not be invested in the Money Market Fund during the Right to
Cancel Period.
* * * * *
The first paragraph under the heading "Exceptions to Charges and to Transaction
or Balance Requirements" on page 19 is hereby amended to read as follows:
The administrative charges or fees may be reduced for sales of Contracts to a
trustee, employer or similar entity representing a group where the Company
determines that such sales result in savings of administrative expenses.
<PAGE>
PROVIDIAN LIFE AND HEALTH INSURANCE COMPANY
SEPARATE ACCOUNT V
SUPPLEMENT DATED DECEMBER 5, 1997
TO THE
PROSPECTUS DATED APRIL 30, 1997
AS SUPPLEMENTED ON JUNE 13, 1997
FOR THE
DIMENSIONAL VARIABLE ANNUITY
OFFERED BY PROVIDIAN LIFE AND HEALTH INSURANCE COMPANY
(A MISSOURI STOCK COMPANY)
Effective January 1, 1998, if the state of issue of your Contract is CA, your
initial Net Purchase Payment(s) will, unless you indicate otherwise, be invested
in your Portfolios and Guaranteed Rate Options immediately upon our receipt
thereof, in which case you will bear full investment risk for any amounts
allocated to the Portfolios during the Right to Cancel Period. This means that
your initial Net Purchase Payment(s) will not be invested in the Federated Prime
Money Portfolio during the Right to Cancel Period. (Please note that immediate
investment is not available with respect to any amounts allocated to the
Guaranteed Equity Option which is illiquid for the guarantee period.)
* * * * *
The first paragraph under the heading "Exceptions to Charges and to Transaction
or Balance Requirements" on page 17 is hereby amended to read as follows:
The administrative charges or fees may be reduced for sales of Contracts to a
trustee, employer or similar entity representing a group where the Company
determines that such sales result in savings of administrative expenses. In
addition, directors, officers and bona fide full-time employees (and their
spouses and minor children) of the Company, its ultimate parent company, and
certain of their affiliates are permitted to purchase Contracts with substantial
reduction of administrative charges or fees or with a waiver or modification of
certain minimum or maximum purchase and transaction amounts or balance
requirements. Contracts so purchased are for investment purposes only and may
not be resold except to the Company.
