AMERITAS LIFE INSURANCE CORP.
SEPARATE ACCOUNT LLVL
Supplement to Prospectus dated May 1, 1997
The prospectus is amended to disclose that on December 8, 1997, the
policyholders of Ameritas Life Insurance Corp. ("Ameritas") voted to approve
Ameritas' Plan of Reorganization ("Plan"). Accordingly, Ameritas will
reorganize, effective January 1, 1998. The Plan involves the formation of a
mutual holding company in which to merge policyholders' membership interests.
Ameritas' corporate existence will be as a stock insurer and indirect subsidiary
of the mutual insurance holding company.
The date of this Supplement is December 11, 1997.
