MAYER, BROWN & PLATT
2000 Pennsylvania Avenue
Washington, D.C. 20005-1882
April 21, 1997
VIA EDGAR
Securities and Exchange Commission
450 Fifth St., NW
Washington, DC 20549
Dear Sir or Madam:
Re: Security Life of Denver Insurance Company
Security Life Separate Account L1
(File No. 811-8292)
Transmitted herewith for filing pursuant to Rule 497(e) under the
Securities Act of 1933, as amended, is a Supplement, dated April 18, 1997, to
the current effective Prospectus of Security Life Separate Account L1, dated May
1, 1996, with respect to each of the Strategic Advantage Variable Universal Life
and FirstLine Variable Universal Life policies (File Nos. 33-88148 and 33-74190,
respectively).
Please contact me at the above-referenced number if you have any
questions concerning this filing.
Sincerely,
/s/ Kathy Kresch Ingber
Kathy Kresch Ingber
Counsel
Attachment
cc: Edward MacDonald, Esq.
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SECURITY LIFE OF DENVER INSURANCE COMPANY
SUPPLEMENT DATED APRIL 18, 1997, TO
THE PROSPECTUS DATED MAY 1, 1996, FOR
SECURITY LIFE SEPARATE ACCOUNT L1:
FIRSTLINE VARIABLE UNIVERSAL LIFE INSURANCE POLICY
STRATEGIC ADVANTAGE VARIABLE UNIVERSAL LIFE INSURANCE POLICY
SECURITY LIFE SEPARATE ACCOUNT A1:
EXCHEQUER VARIABLE ANNUITY
This Supplement updates certain information contained in your Prospectus. Please
read it carefully and keep it with your Prospectus for future reference.
Beginning May 1, 1997, the Divisions of the Variable Accounts investing in the
Neuberger & Berman Advisers Management Trust Government Income Portfolio and the
Van Eck Worldwide Balanced Fund will no longer accept new investments, including
through transfers, automatic rebalancing or dollar cost averaging. Unless we
receive updated allocation instructions from you, we will allocate amounts
designated for these Funds to the other Funds designated in your allocation
instructions, in proportion to the amounts indicated for those Funds. Existing
investments in these Funds will not need to be moved at this time.
Beginning April 30, 1997, the Van Eck Gold and Natural Resources Fund will be
renamed the Worldwide Hard Assets Fund to reflect the Fund's new investment
objective and concentration policy approved by shareholders on April 9, 1997.
The Fund's new investment objective will be to seek long-term capital
appreciation by investing globally, primarily in "hard asset" securities. Income
would be a secondary consideration. The Fund will now invest at least 25% of its
assets in companies engaged to a significant extent in the exploration,
development, production or distribution of one or more of the following "hard
asset" sectors: (1) precious metals; (2) ferrous metals and non-ferrous metals;
(3) oil and gas; (4) forest products; (5) real estate; and (6) other basic
non-agricultural commodities. The Fund also will have the ability to invest in
indexed securities and swaps and will have increased flexibility with respect to
investment in illiquid securities and will expand other of its non-fundamental
investment restrictions.
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