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WESTERN-SOUTHERN LIFE ASSURANCE COMPANY
TOUCHSTONE ADVISOR VARIABLE ANNUITY
SUPPLEMENT DATED NOVEMBER 30, 1998 TO PROSPECTUS DATED MAY 1, 1998
BOND SUB-ACCOUNT CHANGES
Western-Southern Life Assurance Company ("WSLAC") intends to replace
the portfolio in which the Bond Sub-Account invests. Currently the Bond
Sub-Account invests in the Bond II Portfolio (the "Current Bond Portfolio") of
Select Advisors Portfolios ("SA Trust"). WSLAC intends to replace the Current
Bond Portfolio with a new portfolio, the Touchstone Bond Fund (the "New Bond
Fund") of Select Advisors Variable Insurance Trust (the "VI Trust"). The
investment objectives, policies and restrictions of the New Bond Fund will be
identical to those of the Current Bond Portfolio. Fort Washington Investment
Advisors, Inc., the portfolio manager of the Current Bond Portfolio, will manage
the New Bond Fund.
GROWTH & INCOME SUB-ACCOUNT CHANGES
WSLAC also intends to replace the portfolio in which the Growth &
Income Sub-Account invests. Currently the Growth & Income Sub-Account invests in
the Growth & Income II Portfolio (the "Current G&I Portfolio") of SA Trust.
WSLAC intends to replace the Current G&I Portfolio with a new portfolio, the
Touchstone Growth & Income Fund (the "New G&I Fund") of the VI Trust. The
investment objectives, policies and restrictions of the New G&I Fund will be
identical to those of the Current G&I Portfolio. Scudder Kemper Investments,
Inc., the portfolio manager of the Current G&I Portfolio, will manage the New
G&I Fund.
REASON FOR CHANGES
WSLAC is replacing the Current Bond Portfolio and the Current G&I
Portfolio (the "Current Portfolios") because the Board of Trustees of the SA
Trust is dissolving the Current Portfolios as part of a reorganization of the
Touchstone mutual funds.
EFFECTIVE DATE FOR CHANGES
WSLAC intends to replace the Current Portfolios at the close of
business on December 31, 1998.
CONTRACT OWNER OPTIONS
If you are an investor in the Bond Sub-Account or the Growth & Income
Sub-Account and you want your investment in those Sub-Accounts to continue after
WSLAC replaces the Current Portfolios, you do not have to take any action.
If you are an investor in the Bond Sub-Account or the Growth & Income
Sub-Account and you do not want your investment in those Sub-Accounts to
continue after WSLAC replaces the Current Portfolios, you may transfer your
investment or withdraw your investment.
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TRANSFER OPTION
You may transfer your investment from the Bond Sub-Account, the Growth
& Income Sub-Account or both to any of the following sub-accounts:
Emerging Growth International Equity
Income Opportunity Value Plus
Balanced Standby Income
Special Transfer Rules. If you request a transfer from the Bond
Sub-Account, the Growth & Income Sub-Account or both by January 31, 1999, the
following special rules will apply.
o You may transfer any amount from those Sub-Accounts even if the
amount is less than $250.
o You may allocate less than 5% of the amount transferred to a
sub-account.
o WSLAC will not count the transfer when it calculates the number of
transfers you have made to sub-accounts in a 30-day period.
WSLAC will not adopt any additional restrictions on transfers between
now and January 31, 1999. After January 31, 1999, the regular restrictions on
transfers will apply.
WITHDRAWAL OPTION
You may also withdraw your investment from the Bond Sub-Account, the
Growth & Income Sub-Account or both. You may be required to pay a surrender
charge on the withdrawal.
NOTICE AND ADDITIONAL SUPPLEMENTS
If you decide to continue your investment in the Bond Sub-Account or
the Growth & Income Sub-Account, WSLAC will send you a notice by January 5,
1999. The notice will confirm that WSLAC replaced the Current Portfolios and
will contain information similar to the information in this Supplement. If the
information contained in this Supplement changes, WSLAC will send you another
supplement with updated information.
ADDITIONAL INFORMATION
The May 1, 1998 Prospectus for Touchstone Advisor Variable Annuity
contains information about the following topics:
o each sub-account and the portfolios in which it invests
o how to make a transfer
o surrenders and partial withdrawals and surrender charges
If you want a copy of the Prospectus, please call the Touchstone
Variable Annuity Service Center at 1-800-669-2796 (press 2).
