<PAGE> 1
SUPPLEMENT DATED SEPTEMBER 18, 1996 TO
PROSPECTUS DATED MAY 1, 1996
IL ANNUITY AND INSURANCE CO. SEPARATE ACCOUNT I
VISIONARY VARIABLE ANNUITY
For Residents of the State of Texas
This supplement is intended to be used with the prospectus
dated May 1, 1996. This supplement, together with the prospectus and any
supplements previously furnished to you, constitute a current prospectus for
the Visionary Variable Annuity.
The following information supplements footnote 1 of the
Expense Table on page 8 of the Prospectus, as well as the second paragraph of
the section on page 13 of the Prospectus entitled "Withdrawal Charge
(Contingent Deferred Sales Charge)":
For Texas Owners 58 years of age and older on the date the
Contract is issued, the maximum withdrawal charge is 7% of the
amount withdrawn during the first two Contract Years,
declining to 6.5% for withdrawals made during the third
Contract Year, and 6% during the fourth Contract Year.
Thereafter, the Withdrawal Charges decreases by 1% for each
subsequent Contract Year until it is zero in year ten.
--------------------------
The following chart replaces the chart on page 34 of the
Prospectus in the section entitled "Charge for Partial or Full Withdrawal":
<TABLE>
<CAPTION>
=============================================================================================
Age 57 or under Age 58 or older
--------------- ---------------
- ---------------------------------------------------------------------------------------------
Contract Charge as % of Contract Charge as % Contract Charge as %
Year Withdrawal Year of Withdrawal Year of Withdrawal
- ---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1-6 7% 1-2 7% 7 3%
7 6% 3 6.5% 8 2%
8 4% 4 6% 9 1%
9 2% 5 5% 10 0%
10 0% 6 4%
=============================================================================================
</TABLE>
