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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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074 R030400 0
074 R040400 12
074 S000400 0
074 T000400 11482
074 U010400 1154
074 U020400 0
074 V010400 9.95
074 V020400 0.00
074 W000400 0.0000
074 X000400 2
074 Y000400 0
075 A000400 0
075 B000400 11679
076 000400 0.00
SIGNATURE JYLANNE DUNNE
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> VIP MONEY MARKET
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 14,897,803
<INVESTMENTS-AT-VALUE> 14,897,803
<RECEIVABLES> 668
<ASSETS-OTHER> 4
<OTHER-ITEMS-ASSETS> 1,938
<TOTAL-ASSETS> 14,900,413
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 33,136
<TOTAL-LIABILITIES> 33,136
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 14,867,099
<SHARES-COMMON-STOCK> 14,867,099
<SHARES-COMMON-PRIOR> 16,295,115
<ACCUMULATED-NII-CURRENT> 284
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 106
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 14,867,277
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 423,817
<OTHER-INCOME> 0
<EXPENSES-NET> 52,354
<NET-INVESTMENT-INCOME> 371,463
<REALIZED-GAINS-CURRENT> 2
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 371,465
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 371,463
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,799,328
<NUMBER-OF-SHARES-REDEEMED> (4,498,807)
<SHARES-REINVESTED> 371,463
<NET-CHANGE-IN-ASSETS> (1,428,014)
<ACCUMULATED-NII-PRIOR> 284
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 108
<GROSS-ADVISORY-FEES> 30,979
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 87,021
<AVERAGE-NET-ASSETS> 15,618,166
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .02
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.02)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .68
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> VIP EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 37,580,589
<INVESTMENTS-AT-VALUE> 59,111,174
<RECEIVABLES> 41,682
<ASSETS-OTHER> 1,097
<OTHER-ITEMS-ASSETS> 1,778
<TOTAL-ASSETS> 59,155,731
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 93,238
<TOTAL-LIABILITIES> 93,238
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 37,778,422
<SHARES-COMMON-STOCK> 3,235,353
<SHARES-COMMON-PRIOR> 2,968,723
<ACCUMULATED-NII-CURRENT> 24,408
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 270,922
<ACCUM-APPREC-OR-DEPREC> 21,530,585
<NET-ASSETS> 59,062,493
<DIVIDEND-INCOME> 302,460
<INTEREST-INCOME> 297,062
<OTHER-INCOME> 0
<EXPENSES-NET> 292,909
<NET-INVESTMENT-INCOME> 306,613
<REALIZED-GAINS-CURRENT> 35,320
<APPREC-INCREASE-CURRENT> 8,332,434
<NET-CHANGE-FROM-OPS> 8,674,367
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 282,205
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,737,035
<NUMBER-OF-SHARES-REDEEMED> (1,590,760)
<SHARES-REINVESTED> 282,205
<NET-CHANGE-IN-ASSETS> 4,428,480
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 306,242
<GROSS-ADVISORY-FEES> 195,703
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 292,909
<AVERAGE-NET-ASSETS> 52,619,966
<PER-SHARE-NAV-BEGIN> 15.58
<PER-SHARE-NII> .10
<PER-SHARE-GAIN-APPREC> 2.67
<PER-SHARE-DIVIDEND> (.09)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.26
<EXPENSE-RATIO> 1.12
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> VIP ASSET ALLOCATION
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 25,378,332
<INVESTMENTS-AT-VALUE> 30,384,925
<RECEIVABLES> 177,802
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 1,974
<TOTAL-ASSETS> 30,564,701
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 59,480
<TOTAL-LIABILITIES> 59,480
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 24,249,952
<SHARES-COMMON-STOCK> 2,091,384
<SHARES-COMMON-PRIOR> 1,804,021
<ACCUMULATED-NII-CURRENT> 46,988
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,201,688
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5,006,593
<NET-ASSETS> 30,505,221
<DIVIDEND-INCOME> 103,420
<INTEREST-INCOME> 454,594
<OTHER-INCOME> 0
<EXPENSES-NET> 160,408
<NET-INVESTMENT-INCOME> 397,606
<REALIZED-GAINS-CURRENT> 1,022,744
<APPREC-INCREASE-CURRENT> 1,340,112
<NET-CHANGE-FROM-OPS> 2,760,462
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 350,618
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,116,163
<NUMBER-OF-SHARES-REDEEMED> (1,485,523)
<SHARES-REINVESTED> 350,618
<NET-CHANGE-IN-ASSETS> 3,981,258
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 178,944
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 101,358
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 176,735
<AVERAGE-NET-ASSETS> 27,252,828
<PER-SHARE-NAV-BEGIN> 13.37
<PER-SHARE-NII> .20
<PER-SHARE-GAIN-APPREC> 1.19
<PER-SHARE-DIVIDEND> (.17)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.59
<EXPENSE-RATIO> 1.19
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 4
<NAME> VIP HIGH QUALITY BOND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 11,260,165
<INVESTMENTS-AT-VALUE> 11,334,418
<RECEIVABLES> 368,988
<ASSETS-OTHER> 8
<OTHER-ITEMS-ASSETS> 1,831
<TOTAL-ASSETS> 11,705,245
<PAYABLE-FOR-SECURITIES> 207,101
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15,902
<TOTAL-LIABILITIES> 223,003
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11,798,578
<SHARES-COMMON-STOCK> 1,153,558
<SHARES-COMMON-PRIOR> 1,182,359
<ACCUMULATED-NII-CURRENT> 1,077
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 391,666
<ACCUM-APPREC-OR-DEPREC> 74,253
<NET-ASSETS> 11,482,242
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 389,146
<OTHER-INCOME> 0
<EXPENSES-NET> 47,346
<NET-INVESTMENT-INCOME> 341,800
<REALIZED-GAINS-CURRENT> (22,887)
<APPREC-INCREASE-CURRENT> (24,264)
<NET-CHANGE-FROM-OPS> 294,649
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 341,788
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 697,007
<NUMBER-OF-SHARES-REDEEMED> (1,323,479)
<SHARES-REINVESTED> 341,788
<NET-CHANGE-IN-ASSETS> (284,684)
<ACCUMULATED-NII-PRIOR> 1,065
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 368,779
<GROSS-ADVISORY-FEES> 31,854
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 87,318
<AVERAGE-NET-ASSETS> 11,679,326
<PER-SHARE-NAV-BEGIN> 9.99
<PER-SHARE-NII> .29
<PER-SHARE-GAIN-APPREC> (.04)
<PER-SHARE-DIVIDEND> (.29)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.95
<EXPENSE-RATIO> .82
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
