Supplement to Prospectus Dated May 1, 1995
Supplement Dated July 13, 1995
On page 1 of the Prospectus, in the fifth sentence of the fourth paragraph,
replace the first word in the sentence "Otherwise" with the following: "You
are cautioned that with respect to the Fixed Investment Options during the
accumulation phase"
On page 11 of the Prospectus under the caption "Underlying Mutual Fund
Portfolio Annual Expenses (as a percentage of average net assets)" the
following underlying mutual funds' expenses are corrected as follows:
Federated Utility Income's "Management Fee without any applicable
reimbursement" is corrected to read 0.71% and "Other Expenses without any
applicable reimbursement" is corrected to read 0.28%; PIMCO Total Return
Bond's "Other Expenses without any applicable reimbursement" is corrected
to read 0.37%; AST Phoenix Balanced Asset's "Management Fee without any
applicable reimbursement" is corrected to read 0.71% and "Other Expenses
without any applicable reimbursement" is corrected to read 0.28%; AST Money
Market's "Management Fee after any applicable reimbursement" is corrected
to read 0.49% and "Other Expenses after any applicable reimbursement" is
corrected to read 0.15%.
AXIOM - SUPP (7/95)
