PFL WRIGHT VARIABLE ANNUITY ACCOUNT
24F-2NT, 1996-02-22
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<PAGE>
 
                    U.S SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C  20549

                                  FORM 24F-2
                       Annual Notice of Securities Sold
                            Pursuant to Rule 24f-2

          Read instructions at the end of Form before preparing Form.
                             Please print or type.

1.      Name and address of issuer:    PFL Wright Variable Annuity Account
                                        (a separate Account of PFL Life
                                        Insurance Company)

                                        4333 Edgewood Road N.E.
                                        Ceadar Rapids, Iowa  52499

2.      Name of each series or class of funds for which this notice is filed:

3.      Investment Company Act File Number:     811-7688

        Securities Act File Number:     33-61824

4.      Last day of fiscal year for which this notice is filed:
        
        Twelve months ended December 31, 1995

5.      Check box if this notice is being filed more than 180 days after the
        close of the issuer's fiscal year for purposes of reporting securities
        sold after the close of the fiscal year but before termination of the
        issuer's 24f-2 declaration:
                                                        [  ]

6.      Date of termination of issuer's declaration under rule 24f-2(a)(1), if 
        applicable (see instruction A.6):

                                N/A

7.      Number and amount of securities of the same class or series which had
        been registered under the Securities Act of 1933 other than pursuant to
        rule 24f-2 in a prior fiscal year, but which remained unsold at the
        beginning of the fiscal year:

                                0

8.      Number and amount of securities registered during the fiscal year other 
        than pursuant to rule 24f-2:

                                0

9.      Number and aggregate sale price of securities sold during the fiscal 
        year:

        1,026,587 number units      $1,071,758     sales price

10.     Number and aggregate sale price of securities sold during the fiscal
        year in reliance upon registration pursuant to rule 24f-2:

        1,026,587 number units      $1,071,758     sales price

11.     Number and aggregate sale price of securities issued during the fiscal
        year in connection with dividend reinvestment plans, if applicable (see
        instruction B.7):

                                N/A

<PAGE>
 
12.     Calculation of registration fee:

        (i)     Aggregate sale price of securities sold
                during the fiscal year in reliance on rule
                24f-2 (from Item 10):                           $  1,071,758
                                                                   ---------

        (ii)    Aggregate price of shares issued in
                connection with dividend reinvestment
                plans (from Item 11, if applicable):                     + 0
                                                                           -
        
        (iii)   Aggregate price of shares redeemed or
                repurchased during the fiscal year (if
                applicable):                                       - 850,733
                                                                     -------

        (iv)    Aggregate price of shares redeemed or
                repurchased and previously applied as a
                reduction to filing fees pursuant to rule
                24e-2 (if applicable):                                   + 0
                                                                           -

        (v)     Net aggregate price of securities sold and
                issued during the fiscal year in reliance
                on rule 24f-2 [line (i), plus line (ii),
                less line (iii), plus line (iv)] (if
                applicable):                                         221,025
                                                                     -------

        (vi)    Multiplier prescribed by Section 6(b) of
                the Securities Act of 1933 or other
                applicable law or regulation (see
                instruction C.6):                                   x 1/2900
                                                                      ------

        (vii)   Fee due [line (I) or line (v) multiplied
                by line (vi)]:                                          $ 76
                                                                          --

Instruction:    Issuers should complete lines (ii), (iii), (iv), and (v) only if
                the form is being filed within 60 days after the close of the
                issuer's fiscal year.

13.     Check box if fees are being remitted to the Commission's lockbox
        depository as described in section 3a of the Commission's Rules of
        Informal and Other Procedures (17 CFR 202.3a).
                                                                        [X]

        
        Date of mailing or wire transfer of filing fees to the Commission's 
        lockbox depository:
                              February 20, 1996



                                  SIGNATURES

This report has been signed below by the following persons on behalf of the 
issuer and in the capacities and on the dates indicated.

By (Signature and Title)*

                                  /s/ Ronald L. Ziegler
                                  ---------------------------------------------
                                  Ronald L. Ziegler, Vice President and Actuary

Date  2-16-96
      -------


 *Please print the name and title of the signing officer below the signature.





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