<PAGE>
SUPPLEMENT DATED APRIL 1, 1996
TO PROSPECTUS DATED MAY 1, 1995
FOR PINNACLE(TM) FLEXIBLE PAYMENT VARIABLE ANNUITY
ISSUED BY INTEGRITY LIFE INSURANCE COMPANY
THIS SUPPLEMENT MODIFIES THE PROSPECTUS AND SHOULD BE
READ AND RETAINED WITH THE PROSPECTUS.
The Pinnacle Fixed Income and ARM Capital Advisors
Money Market portfolios are not currently available in California.
<PAGE>
SUPPLEMENT DATED APRIL 1, 1996
TO PROSPECTUS DATED MAY 1, 1995
FOR PINNACLE/TM/ FLEXIBLE PAYMENT VARIABLE ANNUITY
ISSUED BY INTEGRITY LIFE INSURANCE COMPANY
THIS SUPPLEMENT MODIFIES THE PROSPECTUS AND SHOULD BE
READ AND RETAINED WITH THE PROSPECTUS.
On February 16, 1996, the Board of Directors of the Fund voted to terminate the
subadvisory agreements with the sub-advisers of the Mitchell Hutchins Fixed
Income and Mitchell Hutchins Money Market Portfolios. As of April 1, 1996, the
names of the portfolios will be Pinnacle Fixed Income Portfolio and ARM Capital
Advisors Money Market Portfolio. As a result of these changes the prospectus is
supplemented as follows:
On page 12, the section Mitchell Hutchins Fixed Income Portfolio is replaced
with the following:
PINNACLE FIXED INCOME PORTFOLIO
-------------------------------
Pinnacle Fixed Income Portfolio seeks as high a level of current income as
is consistent with the preservation of capital. It invests primarily in
corporate debt securities; U.S. Government securities (including mortgage-
backed securities issued by the Government National Mortgage Association,
the Federal National Mortgage Association, and the Federal Home Loan
Mortgage Corporation); obligations of other governmental issuers such as
the Federal Farm Credit System and the Federal Home Loan Banks; asset-
backed securities; repurchase agreements with respect to securities in
which the Portfolio may invest; and instruments used in certain hedging and
related income strategies. The Portfolio may also invest in certain private
placements and in debt securities of foreign governments and governmental
entities. The Portfolio will principally invest in securities rated at
least investment grade, or, if not rated, determined by the sub-adviser to
be of comparable quality. However, the Portfolio may invest up to 15% of
its total assets in securities rated below investment grade or of
equivalent quality, if not rated, including defaulted securities. As of
April 1, 1996, J.P. Morgan Investment Management Inc. is the sub-adviser to
the Portfolio.
On page 12, the section Mitchell Hutchins Money Market Portfolio is replaced
with the following:
ARM CAPITAL ADVISORS MONEY MARKET PORTFOLIO
-------------------------------------------
ARM Capital Advisors Money Market Portfolio seeks maximum current income
consistent with liquidity and conservation of capital. It invests in high
grade money market instruments, with remaining maturities of 13 months or
less, and repurchase agreements secured by such instruments, and maintains
a dollar-weighted average portfolio maturity of 90 days or less. As of
April 1, 1996, ARM Capital Advisors, Inc. is the sub-adviser to the
Portfolio.
<PAGE>
On page 4, the TABLE OF ANNUAL FEES AND EXPENSES, under the heading Fund Annual
Expenses After Reimbursement (as a percentage of average net assets), the
Management Fees for the Pinnacle Fixed Income Portfolio (previously Mitchell
Hutchins Fixed Income Portfolio) and the ARM Capital Advisors Money Market
Portfolio (previously Mitchell Hutchins Money Market Portfolio) will be reduced
as indicated below, effective as of April 1, 1996:
<TABLE>
<CAPTION>
Management Other Total Annual
Portfolio Fees Expenses Expenses
- --------- ---------- -------- ------------
<S> <C> <C> <C>
Pinnacle Fixed Income .70% .50% 1.20%
ARM Capital Advisors Money Market .50% .50% 1.00%
</TABLE>
Each reference to "Mitchell Hutchins Fixed Income", "Mitchell Hutchins Fixed
Income Portfolio" and "Mitchell Hutchins Fixed Income Division" throughout the
Prospectus is changed to "Pinnacle Fixed Income", "Pinnacle Fixed Income
Portfolio", and "Pinnacle Fixed Income Division", respectively.
Each reference to "Mitchell Hutchins Money Market", "Mitchell Hutchins Money
Market Portfolio" and "Mitchell Hutchins Money Market Division" throughout the
Prospectus is changed to "ARM Capital Advisors Money Market", "ARM Capital
Advisors Money Market Portfolio", and "ARM Capital Advisors Money Market
Division", respectively.
