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January 5, 2000
The information below supplements C.M. Life Insurance Company's Panorama Premier
variable annuity prospectus dated May 1, 1999. Please place this supplement with
you prospectus and retain it for future reference.
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PANORAMA PREMIER
Supplement dated January 5, 2000
to the Prospectus dated May 1, 1999
The Panorama Premier prospectus is amended as follows:
1. The fourth paragraph in the right-hand column on page 25 is revised to read
as follows:
. Effective January 15, 2000, owners of certain TSA, IRA or non-qualified Flex
Extra variable annuity contracts issued by Massachusetts Mutual Life
Insurance Company may exchange these contracts for a Panorama Premier
contract. If the Flex Extra contract is beyond the contingent deferred sales
charge period at the time of the exchange, the contract value exchanged will
not be subject to a contingent deferred sales charge under either the Flex
Extra contract or the Panorama Premier contract. If the Flex Extra contract
is within the contingent deferred sales charge period at the time of the
exchange, a contingent deferred sales charge will not be assessed under the
Flex Extra contract on the contract value exchanged to a Panorama Premier
contract. However, a contingent deferred sales charge may be assessed under
the Panorama Premier contract. The Panorama Premier contingent deferred
sales charge percentage on the exchanged contract value will be determined
by treating the exchanged contract value as if it were received as a
Panorama Premier payment on the issue date of the original Flex Extra
contract. After the exchange is complete, any additional payments made to
the Panorama Premier contract will be subject to the Panorama Premier CDSC.
2. The last paragraph in the right-hand column on page 25 is revised to read
as follows:
. Effective December 15, 1999, owners of certain TSA, IRA or non-qualified
Panorama deferred variable annuity contracts issued by Massachusetts Mutual
Life Insurance Company may exchange these contracts for a Panorama Premier
contract. If the Panorama contract is beyond the contingent deferred sales
charge period at the time of the exchange, the contract value exchanged will
not be subject to a contingent deferred sales charge under either the
Panorama contract or the Panorama Premier contract. If the Panorama contract
is within the contingent deferred sales charge period at the time of the
exchange, a contingent deferred sales charge will not be assessed under the
Panorama contract on the contract value exchanged to a Panorama Premier
contract. However, we may assess a contingent deferred sales charge under
the Panorama Premier contract. The Panorama Premier contingent
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deferred sales charge percentage on the exchanged contract value will be
determined by treating the exchanged contract value as if it were received as
a Panorama Premier payment on the issue date of the original Panorama
contract. After the exchange is complete, any additional payments made to the
Panorama Premier contract will be subject to the Panorama Premier contingent
deferred sales charge.
3. The following language is added as a new subsection immediately following
the Fund Expenses subsection on page 26:
Reduction of Charges
For certain group or sponsored arrangements there may be expense savings that
could be passed on to the customer because our costs for sales,
administration, and mortality generally vary with the size of the customer.
We will consider factors such as the size of the group, the nature of the
sale, the expected purchase payment volume, and other factors we consider
significant in determining whether to reduce charges. Subject to applicable
state laws and regulations, we reserve the right to reduce the mortality and
expense risk charge, the administrative charge, the annual contract
maintenance charge or any other charge that is appropriate to reflect any
expense savings. We will make any reductions according to our rules in effect
when an application for a contract is approved. We may change these rules
from time to time. Any reduction in charges will reflect differences in costs
or services, and will not be unfairly discriminatory .
4. The following language is added to the Panorama Series Fund, Inc. subsection
on page 14:
Effective January 1, 2000, Babson-Stewart Ivory International, Credit Suisse
Asset Management, and Pilgrim, Baxter & Associates, Ltd. will no longer serve
as sub-advisers to the Panorama LifeSpan Balanced Portfolio, the Panorama
LifeSpan Diversified Income Portfolio, and the Panorama LifeSpan Capital
Appreciation Portfolio. OppenheimerFunds, Inc. will remain as the investment
adviser and will provide the day-to-day management for all components of
these Portfolios.
January 5, 2000
