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Previous: DEAN WITTER RETIREMENT SERIES, 24F-2NT, 1996-09-09 |
Next: TRINITY BIOTECH PLC, SC 13D, 1996-09-09 |
<PAGE>
AIM/CIGNA
Heritage
SEMIANNUAL REPORT
JUNE 30, 1996
A Lasting Investment
Structure for the
Retirement of Your Life
[AIM LOGO APPEARS HERE]
[CIGNA LOGO APPEARS HERE]
CIGNA Individual
Insurance
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TABLE Letter To Our Clients.................................................... 1
OF The Manager's Overview................................................... 2
CONTENTS AIM Variable Insurance Funds, Inc.
AIM V.I. Capital Appreciation Fund..................................... 4
AIM V.I. Diversified Income Fund....................................... 17
AIM V.I. Global Utilities Fund......................................... 28
AIM V.I. Government Securities Fund.................................... 38
AIM V.I. Growth Fund................................................... 44
AIM V.I. Growth and Income Fund........................................ 58
AIM V.I. International Equity Fund..................................... 72
AIM V.I. Money Market Fund............................................. 82
AIM V.I. Value Fund.................................................... 87
Directors and Officers of the Funds.................................... Inside
Back
Cover
</TABLE>
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<TABLE>
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Letter Dear Client:
To Our
Clients [PHOTO of We are pleased to provide you with this report on the performance
Thomas C. Jones of the AIM/CIGNA Heritage Variable Annuity for the six-month
President period ended June 30, 1996.
APPEARS HERE]
In addition to a summary of sub-account performances for the past
six months, we've also included reports for each of the portfolio
options in the product, and we've provided a wide-ranging interview with the fund
management team for AIM Variable Insurance Funds, Inc. I encourage you to take the time
to read it carefully.
Like the report itself, the interview reflects our commitment to meet your expectations
and needs--a commitment we feel is especially important in today's environment of
continuous and rapid change. Through your ownership of an AIM/CIGNA Heritage Variable
Annuity, you've shown great confidence in our organization. We plan to honor that
confidence by keeping you fully informed about your purchase and by maintaining our focus on
key priorities designed to find superior solutions to today's complex financial
planning problems. As an organization, we're dedicated to:
. Providing COMPETITIVELY SUPERIOR PRODUCTS that will deliver outstanding
value and help assure our clients' long-term financial well-being.
. Adhering to the highest standards of ethical and professional conduct by
supplying COMPREHENSIVE PRODUCT DISCLOSURE that helps clients fully understand
their insurance and investment purchases and allows them to intelligently
evaluate the performance of our products.
. Providing CONSISTENTLY SUPERIOR SERVICE from the time of sale through the
life of the contract, making it as easy as possible to do business with us.
. And committing ourselves to helping you achieve FINANCIAL SECURITY--which
has been a CIGNA tradition for more than 125 years.
These core priorities create a sense of common purpose and direction for our
organization, allowing us to concentrate our resources and efforts to
effectively and efficiently meet your long-term financial planning needs. We
appreciate your business and will continue to do our best to maintain your
loyalty and trust.
If you have any questions or comments about this report--or if our client
services representatives can assist you in any way--please feel free to call
our AIM/CIGNA Heritage Variable Annuity information line at 1-800-628-2811,
Monday through Friday, 8:30 AM to 5:00 PM Eastern time.
Thank you again for choosing CIGNA as your financial planning partner.
Sincerely,
/s/ THOMAS C. JONES
Thomas C. Jones
President
CIGNA Individual Insurance
AIM/CIGNA HERITAGE VARIABLE ANNUITY SCHEDULE OF CHANGES
IN UNIT VALUES
PERIOD ENDED JUNE 30, 1996 (UNAUDITED)
<CAPTION>
12/31/95 6/30/96
ACCUMULATION ACCUMULATION
SUB-ACCOUNT UNIT VALUE UNIT VALUE % CHANGE
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AIM V.I. Capital Appreciation 15.92378352 17.69898786 11.1
AIM V.I. Diversified Income 11.58511339 11.74850943 1.4
AIM V.I. Global Utilities 12.50840432 12.86153288 2.8
AIM V.I. Government Securities 10.99124674 10.72377335 -2.4
AIM V.I. Growth 13.97787385 15.02765987 7.5
AIM V.I. Growth and Income 13.38512650 14.54246899 8.6
AIM V.I. International Equity 13.15613040 14.77010058 12.3
AIM V.I. Money Market 10.77544248 10.96330532 1.7
AIM V.I. Value 15.50537319 16.27061334 4.9
Accumulation Unit Values are net of charges against the assets of the Variable
Account for the assumption of mortality and expense risks and for
administrative expenses.
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<PAGE>
The mutual fund semiannual report is incorporated herein by reference. It has
been electronically filed with the Securities and Exchange Commission in
connection with the named entity's status as a registered investment company
under the Investment Company Act of 1940:
AIM/CIGNA Heritage SemiAnnual Report, June 30, 1996, consisting of 100
partially numbered pages. Filed: September 4, 1996, Form Type N-30D,
Registration Statement 811-7452.
<PAGE>
AIM Variable Insurance Funds, Inc.
AIM V.I. Capital Appreciation Fund
AIM V.I. Diversified Income Fund
AIM V.I. Global Utilities Fund*
AIM V.I. Government Securities Fund
AIM V.I. Growth Fund
AIM V.I. Growth & Income Fund
AIM V.I. International Equity Fund
AIM V.I. Money Market Fund
AIM V.I. Value Fund
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<CAPTION>
*On May 1, 1995, AIM V.I. Utilities Fund broadened its investment strategy to permit up to 80% of its total assets to be invested in
foreign securities, and was renamed AIM V.I. Global Utilities Fund.
This report may be distributed only to current shareholders or to persons who have received a current prospectus of the Variable
Annuity.
<S> <C> <C>
National Distributor:
CIGNA Financial Advisors
900 Cottage Grove Road
Bloomfield, CT 06002
[CIGNA LOGO APPEARS HERE]
[AIM LOGO APPEARS HERE] CIGNA Individual CIGNA Individual Insurance is a
A I M Distributors, Inc. Insurance division of CIGNA Corporation.
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