FEDERATED AMERICAN LEADERS FUND II
(A Portfolio of Federated Insurance Series)
SUPPLEMENT TO THE PROSPECTUS DATED APRIL 22, 1996
Effective July 15, 1996, Timothy E. Keefe no longer serves as a portfolio
manager for the Fund. Therefore, please delete Mr. Keefe's biographical
information from the prospectus and replace it with the following:
`Scott B. Schermerhorn has been the Fund's portfolio manager since
July 1996. Mr. Schermerhorn joined Federated Investors in 1996 as a
Vice President of the Fund's investment adviser. From 1990 through
1996, Mr. Schermerhorn was a Senior Vice President and Senior
Investment Officer at J W Seligman & Co., Inc. Mr. Schermerhorn
received his M.B.A. in Finance and International Business from Seton
Hall University.''
Please note that Peter R. Anderson will continue to serve as a portfolio
manager for the Fund.
July 19, 1996
FEDERATED INVESTORS
Federated Investors Tower
Pittsburgh, PA 15222-3779
Federated Securities Corp. is the distributor of the Fund and is a
subsidiary of Federated Investors.
Cusip 458043502
G01083-09 (7/96)
FEDERATED FUND FOR U.S. GOVERNMENT SECURITIES II
(A Portfolio of Federated Insurance Series)
SUPPLEMENT TO THE PROSPECTUS DATED APRIL 22, 1996
Effective July 1, 1996, James D. Roberge no longer serves as a portfolio
manager for the Fund. Therefore, please delete Mr. Roberge's biographical
information from the prospectus. Please note that Kathleen Foody-Malus
will continue to serve as a portfolio manager for the Fund.
July 19, 1996
FEDERATED INVESTORS
Federated Investors Tower
Pittsburgh, PA 15222-3779
Federated Securities Corp. is the distributor of the Fund and is a
subsidiary of Federated Investors.
Cusip 458043304
G01083-10 (7/96)
FEDERATED GROWTH STRATEGIES FUND II
(A Portfolio of Federated Insurance Series)
SUPPLEMENT TO THE PROSPECTUS DATED APRIL 22, 1996
Please note that the time period when dividends are declared and paid for
the Fund should be changed. Dividends on shares of the Fund are declared
and paid annually.
July 19, 1996
FEDERATED INVESTORS
Federated Investors Tower
Pittsburgh, PA 15222-3779
Federated Securities Corp. is the distributor of the Fund and is a
subsidiary of Federated Investors.
Cusip 458043700
G01083-11 (7/96)
