SUPPLEMENT TO THE PROSPECTUS DATED MAY 1, 1998
OF LINCOLN BENEFIT LIFE COMPANY
VARIABLE ANNUITY ACCOUNT
Lincoln Benefit Life Company ("Company") has contracted with Allstate Life
Financial Services, a wholly owned subsidiary of Allstate Life Insurance Company
and affiliate of the Company, to serve as distributor of the Investor's Select
variable annuity contracts, effective November 25, 1998. Prior to this time
Lincoln Benefit Financial Services, a wholly owned subsidiary of the Company,
served as the distributor. In accordance with this change, the following
revision is made to the Prospectus.
On page 25, under the heading of DISTRIBUTION OF CONTRACTS, the language is
deleted in its entirety and the following is substituted in its place:
DISTRIBUTION OF CONTRACTS
Contracts are sold by registered representatives of broker-dealers who are our
licensed insurance agents, either individually or through an incorporated
insurance agency. Commissions paid to broker-dealers may vary, but in the
aggregate are not anticipated to exceed 6% of all Purchase Payments (on a
present value basis). From time to time, additional sales incentives (up to 1%
of Purchase Payments) may be provided to broker-dealers maintaining certain
sales volume levels.
Allstate Life Financial Services ("ALFS") located at 3100 Sanders Road,
Northbrook, IL 60062-7154 serves as distributor of the Contracts. ALFS, an
affiliate of the Company, is a wholly owned subsidiary of Allstate Life
Insurance Company. It is registered as a broker-dealer under the Securities and
Exchange Act of 1934, as amended, and is a member of the National Association of
Securities Dealers, Inc.
During 1997, 1996, and 1995, the Company paid to its former distributor of the
Contracts, Lincoln Benefit Financial Services ("LBFS"), gross commissions for
the sale of Contracts of approximately $7,553,487, $6,729,301, and $4,596,381,
respectively. Of the gross commissions received, LBFS (as principal underwriter)
retained $243,193, $263,183, and $206,601, respectively. The amounts not
retained by LBFS were paid to other independent broker/dealers and registered
representatives of LBFS for distribution of the Contracts.
On page 1 of the Prospectus, the following information is generally added:
Each of the Subaccounts and Fixed Account may not be available in all states.
You should check with your representative or call us for further information on
the availability of these accounts.
Please attach this page to your Prospectus and retain it for future reference.
If you have any questions regarding this information, please call us at
1-800-865-5237, or 1-877-525-5727.
Form # LBL-2495
