AUSA SERIES LIFE ACCOUNT
497, 2001-01-19
Previous: SEPARATE ACCOUNT VA-P OF FIRST ALLMERICA FIN LIFE INSUR CO, N-4, EX-15.(F), 2001-01-19
Next: GENERAL MAGIC INC, 424B2, 2001-01-19




                 Supplement Dated January 19, 2001 to Prospectus
             Dated May 1, 2000 as Supplemented September 1, 2000 for
                         AUSA FINANCIAL FREEDOM BUILDER
          An Individual Flexible Premium Variable Life Insurance Policy
                                    ISSUED BY
                        AUSA Life Insurance Company, Inc.
                                     AND ITS
                            AUSA Series Life Account

THIS SUPPLEMENT PROVIDES ADDITIONAL INFORMATION TO THE INFORMATION IN THE MAY 1,
2000 PROSPECTUS. PLEASE READ IT CAREFULLY AND KEEP IT WITH YOUR MAY 1, 2000
PROSPECTUS FOR FUTURE REFERENCE.

An owner of certain fixed life insurance policies and certificates issued by us
and certain of our affiliates (the "Companies") may be entitled to purchase the
AUSA Financial Freedom Builder in connection with the settlement of litigation
against the Companies and under the terms of the settlement agreement. We call
the AUSA Financial Freedom Builder Policy that is purchased under these terms an
"Enhanced Value Life Insurance Policy."

Applicants for an Enhanced Value Life Insurance Policy must be under age 80 and
meet our standard underwriting requirements. The death benefit of the Enhanced
Value Life Insurance Policy can be no more than the greater of $50,000 or the
original face amount of the policy making an applicant eligible for relief under
the settlement agreement, not to exceed $1,000,000.

Bankers United Life Assurance Company, one of the Companies, will issue two
premium voucher credits to each qualified applicant ("you") in the amount
determined under the terms of the settlement agreement. You may apply the
premium voucher credits toward the purchase of an Enhanced Value Life Insurance
Policy, provided you satisfy our underwriting requirements. In order to receive
the benefit of the first premium voucher credit, you must submit the first
premium voucher to us no later than the first Policy anniversary of the Enhanced
Value Life Insurance Policy issued to you. We will credit the first premium
voucher credit to your Enhanced Value Life Insurance Policy on the first Policy
anniversary, and we will allocate the amount of that premium voucher credit in
accordance with your then current premium allocation schedule, unless you
instruct us otherwise.

Similarly in order to receive the benefit of the second premium voucher credit,
you must submit the second premium voucher to us no later than the second Policy
anniversary of the Enhanced Value Life Insurance Policy issued to you. We will
credit the second premium voucher credit to your Enhanced Value Life Insurance
Policy on the second Policy anniversary, and we will allocate the amount of that
premium voucher credit in accordance with your then current premium allocation
schedule, unless you instruct us otherwise.

Premium voucher credits expire five years after the date they are issued.
Premium voucher credits may be transferred to a person or entity in your
immediate family (generally, your spouse, child, stepchild or parent) or any
person in whom you have an insurable interest. Premium


<PAGE>

voucher credits may not be redeemed for cash. Premium voucher credits may not be
aggregated; only one pair of vouchers may be applied toward the premiums of a
single Enhanced Value Life Insurance Policy.

Premiums paid for the Enhanced Value Life Insurance Policy, other than the
premiums paid using the premium voucher credits, must be paid from a source
other than a surrender of, policy loan against, or withdrawal of values from, an
existing insurance product issued by any of the Companies.

The premium voucher credits will vest immediately, become part of the Enhanced
Value Life Insurance Policy's cash value, and are not subject to refund or
revocation by us.

IF YOU ARE A PERSON WHO MAY BE ENTITLED TO PURCHASE AN ENHANCED VALUE LIFE
INSURANCE POLICY UNDER THE TERMS OF THE SETTLEMENT AGREEMENT, YOU SHOULD CALL
THE BANKERS UNITED CLASS ACTION INFORMATION LINE AT 800-572-0153 FOR ADDITIONAL
INFORMATION.

THIS SUPPLEMENT DOES NOT PROVIDE TAX ADVICE. PURCHASING AN ENHANCED VALUE LIFE
INSURANCE POLICY MAY HAVE TAX CONSEQUENCES. YOU SHOULD CONSULT WITH YOUR TAX
ADVISER PRIOR TO PURCHASING AN ENHANCED VALUE LIFE INSURANCE POLICY.


                                       2


Top Judgements:
Palmer v. Teva Canada Ltd. | Aug 12, 2022
Janssen Inc. v. Sandoz Canada Inc. | May 31, 2022
Markowich v. Lundin Mining Corporation | Jan 6, 2022
Canada (National Revenue) v. Ghermezian | Feb 23, 2022
Canadian Union of Public Employees, Local Unions 835 v South Shore District Health Authority | Jan 17, 2015
Arctic Cat Inc. v. Bombardier Recreational Products Inc. | Sep 16, 2016
Canadian Airport Workers Union v Goodwill Industries | Mar 4, 2022
Cassan v. The Queen | Sep 8, 2017
Toronto Professional Fire Fighters’ Association, I.A.A.F. Local 3888 v City of Toronto | Aug 26, 2022
Cambie Surgeries Corporation v. British Columbia (Attorney General) | Sep 10, 2020
Cowichan Tribes v Canada | Jun 3, 2022
Brain cancer (glioblastoma multiforme) | ONWSIAT Decision No. 1642/21 | Jul 18, 2022
Konicek v Vantown Infrastructure Invesco Inc. | Sep 9, 2022
C.S.S. Office Furniture Systems Service Inc. v Burns | Aug 11, 2022
Saskatoon Co-operative Association Limited v United Food and Commercial Workers | Aug 15, 2022
Old Lakeshore Inc. v City of Burlington | Sep 2, 2022
Tietz v. Affinor Growers Inc. | Sep 13, 2022
Efficiencyone (E1) | Sep 6, 2022
President's Choice Bank v. The Queen | Jul 19, 2022
First Global Data Ltd | Sep 15, 2022
Rayonier v Unifor, Locals 256 and 89 | Aug 11, 2022
Alberta Workers’ Compensation Appeals Commission | Decision No. 2021-0334 | Jul 14, 2022
Metrowest Developments Ltd v Flynn Canada Ltd | Sep 14, 2022
R. v. Cameron | Jul 15, 2022
Functional Servicing and Stormwater Management | Jul 28, 2022
101034761 Saskatchewan Ltd. v Mossing | Aug 24, 2022
Waste Control Services Inc. v International Union of Operating Engineers, Local No. 115 | Aug 12, 2022
RJM56 Holdings Inc. c. Bazinet | Aug 17, 2022
Sherwood v The Owners, Strata Plan VIS 1549 | Aug 9, 2022
WCAT Decision A2001487 | Aug 8, 2022
City of Hamilton v Ontario Water Employees’ Association | Sep 12, 2022
Century Services Corp. v. LeRoy | Jul 8, 2022
United Food and Commercial Workers, Local 175 v Metro Ontario Inc. | Jul 4, 2022
Langmaid’s Island Corporation v Lake of Bays | Sep 12, 2022
WCAT Decision A2102416 | Jul 22, 2022
Inquiry about McAbee Fossil beds | Jul 14, 2022
1088558 Ontario Inc. v. Musial | Sep 16, 2022
Biogen Canada Inc. v. Pharmascience Inc. | Aug 8, 2022
CIC Management Services Inc. v City of Toronto | Jul 21, 2022
Bonterra Energy Corp v Rosells’ Enterprises Ltd | Aug 31, 2022
WCAT Decision A2100606 | Aug 17, 2022
Leffler v Aaron Behiel Legal Professional Corporation | Jun 30, 2022
Espartel Investments v. MTCC No. 993 | Aug 19, 2022
Onespace Unlimited Inc. v. Plus Development Group Corp. | Sep 19, 2022
Professional Institute of the Public Service of Canada v. Canada Revenue Agency | Jun 23, 2022
Community Savings Credit Union v. Bodnar | Jul 29, 2022
Galperti SRL v F.I.A.L. Finanziaria Industrie Alto Lario S.P.A | Jun 30, 2022
WCAT Decision A2102352 | Jul 6, 2022
WCAT Decision A2102306 | Jul 25, 2022
Thrive Capital Management Ltd. v. Noble 1324 Queen Inc. | Jul 12, 2022
Questor Technology Inc v Stagg | Sep 8, 2022
MediPharm v. Hexo and Hwang | Jul 25, 2022
Immunization rates & vaccine hesitancy | Aug 17, 2022
Morabito v. British Columbia Securities Commission | Aug 12, 2022
Killeleagh v Mountain View County (Development Authority) | Aug 24, 2022
Quality Control Council v Stanley Inspection Canada Ltd. | Sep 9, 2022
British Columbia Investment Management Corporation | Aug 17, 2022
Abbeylawn Manor Living Inc. v Sevice Employees International Union, Local 1 Canada | Jul 5, 2022
Windrift Adventures Inc. et al. v. Chief Animal Welfare Inspector | Aug 18, 2022
Irani and Khan v. Registrar, Motor Vehicle Dealers Act | Jul 14, 2022
CP REIT Ontario Properties Limited v City of Toronto | Aug 12, 2022
Potash Corporation of Saskatchewan Inc. v. The Queen | Jul 7, 2022
Wong v. Pretium Resources Inc. | Jul 22, 2022
Labourers' International Union of North America, Local 183, Union v Mulmer Services Ltd. | Aug 5, 2022

© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission