AMERITAS LIFE INSURANCE CORP SEPARATE ACCOUNT LLVL
497, 1998-05-01
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                          AMERITAS LIFE INSURANCE CORP.
                              SEPARATE ACCOUNT LLVL
                   SUPPLEMENT TO PROSPECTUS DATED MAY 1, 1998

The  prospectus is amended at page 9 to add the following  disclosure  regarding
the Year 2000 issue:

     Year 2000. Like other insurance  companies and their separate accounts,
     ALIC and the  Separate  Account  could  be  adversely  affected  if the
     computer  systems they rely upon do not properly  process  date-related
     information and data involving the years 2000 and after. ALIC has taken
     steps it believes are  reasonable  to timely  address this issue in its
     own computer  system,  and to obtain  assurances that its major service
     providers are taking comparable steps. At this time, however, there can
     be no  assurance  that  these  steps  will be  sufficient  to avoid any
     adverse impact on ALIC and the Separate Account.

The prospectus is further  amended at page 5, under  "Retirement  Benefits",  by
removing the word  "policyholder" and replacing it with the word "Insured",  and
further,  at page 7, in the last  paragraph,  first line,  by inserting the word
"Insured's"  between the words "of" and "age"; and at page 18, under the caption
"Loan Interest",  by inserting the word  "Insured's"  between the words "of" and
"age" in both the third line and the seventh line of that paragraph.


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