AMERITAS LIFE INSURANCE CORP.
SEPARATE ACCOUNT LLVL
Supplement to Prospectus dated May 1, 1997
The prospectus is amended to disclose that, on September 13th, the
Board of Directors of Ameritas Life Insurance Corp. ("Ameritas") voted
to approve a plan of reorganization ("Proposed Plan") pursuant to the
Nebraska Mutual Insurance Holding Company Act, Neb. Rev. Stat.
ss.ss.44-6122 through 44-6142 ("the Act"). The Proposed Plan would
allow Ameritas, upon approval of the Director of the Nebraska
Department of Insurance ("Director") and two-thirds of the eligible
policyholders voting at a meeting of Ameritas policyholders, to
reorganize by forming a mutual holding company, merging policyholders'
membership interests into the mutual holding company, and continuing
the mutual insurer's corporate existence as a stock insurer subsidiary
of the mutual insurance holding company, pursuant to the Act.
Policyholders of record on September 13, 1997, will be eligible to vote
on any Order of Approval issued by the Director. Ownership of the
Separate Account by Ameritas is not affected by the Proposed Plan.
The date of this Supplement is September 15, 1997.
