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Paragon Power Portfolio Variable Annuity
GNA Variable Investment Account
Great Northern Insured Annuity Corporation
Supplement to Prospectus dated November 22, 1995
Effective December 11, 1995, the four investment options provided by the
Paragon Portfolio - the Paragon Power Intermediate-Term Bond Portfolio, the
Paragon Power Value Growth Portfolio, the Paragon Power Value Equity Income
Portfolio, and the Paragon Power Gulf South Growth Portfolio - will cease to be
available for Certificates issued on or after that date. In addition, no
purchase payments under Certificates outstanding on that date may be allocated
to, and no transfers of Certificate Value may be made to, the Variable
Sub-accounts corresponding to the four Paragon Portfolio investment options on
or after December 11, 1995.
Certificate Values invested in the four Paragon Portfolio Variable
Sub-accounts prior to December 11, 1995, may remain invested in those
Sub-accounts until such time as Great Northern Insured Annuity Corporation
("GNA") has obtained all necessary regulatory approvals to transfer such
Certificate Values to another investment option. GNA intends to seek an order
from the Securities and Exchange Commission ("SEC") to permit it to transfer any
remaining Certificate Values in the four Paragon Portfolio Variable Sub-accounts
to the Variable Sub-account corresponding to the GE Money Market Portfolio of
the Variable Investment Trust. Prior to obtaining such order, transfers may be
made from the four Paragon Portfolio Variable Sub-accounts at any time, and GNA
will waive the assessment of the $25 charge for such transfer if otherwise
applicable. There is no assurance that the order to be requested from the SEC
will be granted.
The date of this supplement is December 11, 1995
