AMERITAS LIFE INSURANCE CORP SEPARATE ACCOUNT LLVL
497, 2000-03-29
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                   AMERITAS LIFE INSURANCE CORP. ("AMERITAS")

              SUPPLEMENT TO AMERITAS NO-LOAD VARIABLE ANNUITY AND
                   AMERITAS LOW-LOAD VARIABLE UNIVERSAL LIFE
                         PROSPECTUSES DATED MAY 1, 1999
      SUPPLEMENT TO AMERITAS LOW-LOAD SURVIVORSHIP VARIABLE UNIVERSAL LIFE
                         PROSPECTUS DATED JULY 30, 1999

                         SUPPLEMENT DATED MARCH 29, 2000

1.   Effective  immediately,  the Rydex  Juno  Fund is no  longer  an  available
     investment option under the Policy.

     Funds  allocated to this  portfolio as of the date noted below,  may remain
     invested in the portfolio.  If transferred  out of the portfolio,  however,
     reinvestment  in the  portfolio  will not be an  option.  In the event that
     funds  are  allocated  to the  Rydex  Juno  Fund  as of the  date  of  this
     Supplement,  Ameritas  will  proceed  with filing an  application  with the
     Securities  and  Exchange  Commission  to  substitute  the  shares  of this
     portfolio for shares of another portfolio to be determined.

2.   The Rydex  Administrative Rules described in the prospectus are removed and
     all  references  to such  procedures  shall be  deleted.  Other  procedures
     related  to the  funds  shall  remain  as  stated  in the  prospectus.  All
     transactions are subject to approval by Ameritas.  The transaction  cut-off
     time for  receipt  by us of  Premium  Payments  and all  transactions  with
     respect to Rydex is 1:30 p.m. Central time.  Rydex requests  received after
     the cutoff time will be executed on the following business day.

This Supplement should be retained with the current prospectus for your variable
Policy  issued by Ameritas  Life  Insurance  Corp.  If you do not have a current
prospectus, please contact Ameritas at 1-800-255-9678.


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