LONDON PACIFIC LIFE & ANNUITY COMPANY
LPLA SEPARATE ACCOUNT ONE
Supplement dated January 27, 1997 to
Prospectus date May 1, 1996
The following paragraph replaces the second paragraph under "Highlights."
The Contract may be returned to the Company for any reason within ten
(10) calendar days, or for a longer period in states where required,
(thirty (30) calendar days if purchased by individuals in California
who are 60 years of age or older on the Issue Date, or twenty (20)
calendar day of the date of receipt with respect to the circumstances
described in (c) below) after its receipt by the Owner ("Right to
Examine Contract"). It may returned to the Company at its Annuity
Service Center (or the agent through whom it was purchased in the
state of Washington). When the Contract is received by the Company at
its Annuity Service Center, it will be voided as if it had never been
in force. Upon its return, the Company will refund the Contract Value
next computed after receipt of the Contract by the Company at its
Annuity Service Center except in the following circumstances: (a) where
the Contract is purchased pursuant to an Individual Retirement Annuity;
(b) in those states which require the Company to refund Contributions,
less withdrawals; or (c) in the case of Contracts which are deemed by
certain states to be replacing an existing annuity or insurance
contract and which require the Company to refund Contributions, less
withdrawals. With respect to the circumstances described in (a), (b)
and (c) above, the Company will refund the greater of Contributions,
less any withdrawals, or the Contract Value, (in Idaho, the Company
will refund Contributions, less withdrawals) and will allocate initial
Contributions to the Salomon Money Market Sub-Account (except for any
Contribution to be allocated to the Fixed Account as elected by the
Owner) until the expiration of the Right to Examine Contract period
plus five (5) days. Upon the expiration of the Right to Examine
Contract period plus five days, the Sub-Account value of the Salomon
Money Market Sub-Account will be allocated to the Separate Account in
accordance with the election made by the Owner at the time the Contract
is issued.
The following replaces certain information contained in the Prospectus:
In the state of North Dakota, the Contract Maintenance Charge is $30.
In the states of South Carolina, Texas and Washington, during the
Accumulation Period and in the event of a total withdrawal, the Company deducts
the Contract Maintenance Charge only by canceling Accumulation Units from each
applicable Sub-Account.
In the state of Washington, the Owner may make a withdrawal on the
Annuity Date.
