<PAGE>
MFS VARIABLE INSURANCE TRUST
Supplement to the Prospectus dated May 1, 1995
The Trust has suspended sales of two of its series, the MFS Growth
Series and the MFS Strategic Fixed Income Series, for an indefinite period, and
does not intend to offer the MFS Limited Maturity Series for sale as an
investment option with respect to the Group and Individual Flexible Premium
Variable Life Insurance Policies issued by Paragon Life Insurance Company (the
"Policies"). Therefore, while the Prospectus describes these three Series, they
are not currently offered for sale as investment options in connection with the
Policies.
The date of this Supplement is November 14, 1995
