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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 the Separate Account
and (ii) the Accumulated Value of the Policy (on the date the cancellation
request is received by the Company) attributable to any amount allocated to a
Sub-Account. 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
individual retirement annuity ("IRA"), the IRA refund right described in the
second paragraph under the caption "RIGHT TO REVOKE Contract on page 11 is
applicable for the first 10 days. The IRA refund right is also applicable to
all other California policies issued as IRAs.
Because of the new requirements, the Company will no longer require Fund
allocations by California senior citizens age 60 and older to be held in the
Money Market Fund for 34 days following the date of issue of the Policy. The
third sentence of the sixth paragraph under the caption PURCHASE PAYMENTS on
page 18 of the Prospectus is therefore deleted. If the Policy is issued as an
IRA, all Fund allocations will be held in the Money Market Fund for the first 14
days following the date of issue.
SUPPLEMENT DATED NOVEMBER 13, 1995
