CENTURY VARIABLE ANNUITY ACCOUNT
24F-2NT, 1996-02-09
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                                   FORM 24F-2
                        Annual Notice of Securities Sold
                             Pursuant to Rule 24f-2


1.  Name and address of issuer:
         Century Variable Annuity Account
         2000 Heritage Way
         Waverly, Iowa  50677


2.  Name of each series or class of funds for which this notice is filed:
     Bond Fund                             Growth and Income Stock Fund
     Money Market Fund                     Balanced Fund
     Capital Appreciation Stock Fund

3.  Investment Company Act File Number:   811-6260

     Securities Act File Number:  33-73738


4.  Last day of fiscal year for which this notice is filed:   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 Instructions 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: N/A


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


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

    148,839,931

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

    148,839,931

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


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):
                                                                   $ 148,839,931

      (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):

                                                                    - 60,226,253

      (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):

                                                                      88,613,678


      (vi)  Multiplier  prescribed by Section 6(b) of the Securities Act of 1933
      or other applicable law or regulation (see Instruction C.6):

                                                           x 1/29 of 1% (1/2900)
      (vii)  Fee due [line (i) or line (v) multiplied by line (vi)]:
                                                                      88,613,678
                                                                         $30,556


     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. See Instruction C.3.


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 9, 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.


                                                Century Variable Annuity Account
                                                     By: Century Life of America



February 8, 1996                                          /s/ Michael B. Kitchen
Date                                               Michael B. Kitchen, President
                                                     and Chief Executive Officer


January 16, 1996


Board of Directors
Century Life of America
2000 Heritage Way
Waverly, IA  50677

RE:  Rule 24f-2 Notice - Century Variable Annuity Account
        File No. 33-73738 - For the Period Ended 12/31/95

Ladies and Gentlemen:

This opinion letter pertains to the Rule 24f-2 Notice for the deferred  variable
annuity contracts (the Contracts) issued by the Century Variable Annuity Account
(the Account) and Century Life of America (the Company). It is my opinion that:

1.       The Company is a corporation  duly organized and validly  existing as a
         mutual life  insurance  company under the laws of the state of Iowa and
         is duly  authorized  by the  Insurance  Division of the  Department  of
         Commerce in the state of Iowa to issue the Contracts.

2.       The  Account  is  a  duly  authorized  and  existing  separate  account
         established  pursuant to the  provisions of Section  508A.1 of the Iowa
         Code.

3.       Unless  provided to the contrary under the  Contracts,  that portion of
         the assets of the  Account  equal to the  reserves  and other  contract
         liabilities  with  respect to the Account will not be  chargeable  with
         liabilities  arising  out of any other  business  that the  Company may
         conduct.

4.       The Contracts,  when issued in accordance  with the current  prospectus
         for the MEMBERS(R) Variable Annuity,  constitute legal,  validly issued
         and binding obligations of the Company.

This opinion  letter,  or a copy thereof,  may be used as an exhibit to the Rule
24f-2 Notice for the period  ending  December 31, 1995 for the Century  Variable
Annuity Account.

Sincerely,

/s/ Barbara L. Secor
Barbara L. Secor
Assistant Vice President & Associate General Counsel
CENTURY LIFE OF AMERICA








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