JACKSON NATIONAL SEPARATE ACCOUNT I, 497, 1996-12-16

JACKSON NATIONAL SEPARATE ACCOUNT I
497, 1996-12-16

Previous: KEYSTONE STRATEGIC DEVELOPMENT FUND, 497, 1996-12-16

Next: TRANSAMERICAN REFINING CORP, 10-Q, 1996-12-16



<PAGE>   1
 
               SUPPLEMENT TO PROSPECTUS DATED SEPTEMBER 16, 1996
                 FOR THE PERSPECTIVE FIXED AND VARIABLE ANNUITY
              AND THE PERSPECTIVE PLUS FIXED AND VARIABLE ANNUITY
 
     The following language is added on page 20 before the heading "ERISA
PLANS":
 
          RESTRICTIONS UNDER THE TEXAS OPTIONAL RETIREMENT PROGRAM
 
        Contracts issued to participants in the Texas Optional Retirement
        Program ("ORP") contain restrictions required under the Texas
        Administrative Code. In accordance with those restrictions, a
        participant in the ORP will not be permitted to make withdrawals prior
        to such participant's retirement, death, attainment of age 70 1/2 years
        or termination of employment in a Texas public institution of higher
        education. The foregoing restrictions on withdrawal do not apply in the
        event a participant in the ORP transfers the Contract value to another
        approved contract or vendor during the period of ORP participation.
 
This Supplement is dated December 16, 1996.