<PAGE>
CONNECTICUT GENERAL LIFE INSURANCE COMPANY
CG Variable Annuity Separate Account
CG Variable Annuity Separate Account II
Flexible Payment Deferred Variable Annuity Contracts
CG Variable Life Insurance Separate Account I
CG Variable Life Insurance Separate Account II
Flexible Premium Variable Life Insurance Policies
CIGNA LIFE INSURANCE COMPANY
CIGNA Variable Annuity Separate Account I
Flexible Payment Deferred Variable Annuity Contracts
January 2, 1998 Supplement
to
May 1, 1997 Prospectuses
As of January 1, 1998, CIGNA Financial Advisors Inc., the principal
underwriter for Contracts/Policies described in the Prospectuses referenced
above, formerly a wholly-owned subsidiary of CIGNA Corporation, became a
wholly-owned subsidiary of Lincoln National Corporation, an Indiana
corporation with headquarters in Fort Wayne, Indiana, whose principal
businesses are insurance and financial services.
Inquiries about the Contracts/Policies should still be addressed to the
Variable Life & Annuity Services Center, Routing S-249, Hartford, CT
06152-2249.
Additionally, on or about February 2, 1998, or as soon thereafter as
practicable, the manner in which Accumulation Unit Values are computed under
the Contracts/Policies will change. The effect of such change is not material;
the result of the computation is expected to be the same to the nearest
one-one-thousandth or one-ten-thousandth of a cent per Accumulation Unit. The
new method, replacing the method described under "Net Investment Factor", is
as follows:
The Accumulation Unit value for a Sub-Account for any later Valuation
Period is determined as follows:
1. The total value of Fund shares held in the Sub-Account is
calculated by multiplying the number of Fund shares owned by the
Sub-Account at the beginning of the Valuation Period by the net asset
value per share of the Fund at the end of the Valuation Period, and
adding any dividend or other distribution of the Fund earned during
the Valuation Period; minus
2. The liabilities of the Sub-Account at the end of the Valuation
Period; such liabilities include daily charges imposed on the
Sub-Account, and may include a charge or credit with respect to any
taxes paid or reserved for by the Company that the Company determines
result from the operations of the Variable Account; and
3. The result of (2) is divided by the number of Sub-Account units
outstanding at the beginning of the Valuation Period.
The daily charges imposed on a Sub-Account for any Valuation Period are equal
to the daily mortality and expense risk charge and any applicable daily
administrative charge multiplied by the number of calendar days in the
Valuation Period.
