<PAGE> 1
SUPPLEMENT DATED JANUARY 15, 1999 TO PROSPECTUS DATED MAY 1, 1998
IL ANNUITY AND INSURANCE COMPANY
IL ANNUITY AND INSURANCE CO. SEPARATE ACCOUNT I
VISIONARY VARIABLE ANNUITY
The sections in the prospectus captioned "EXPENSE TABLES" and "EXAMPLES"
are revised to reflect the following:
EXPENSE TABLES
ANNUAL FUND EXPENSES
(as a percentage of average daily net assets after expense cap or expense
deferral)
<TABLE>
<CAPTION>
Total Annual
Other Expenses Expenses (after
Management Fees (after waivers and
Name of Portfolio (after waivers) 12b-1 Fees reimbursement) reimbursement)
- ----------------- --------------- ---------- -------------- --------------
<S> <C> <C> <C> <C>
Alger American Fund
MidCap Growth Portfolio........................... 0.80% --- 0.04% 0.84%
Small Capitalization Portfolio.................... 0.85% --- 0.04% 0.89%
Fidelity VIP Fund
Equity Income Portfolio(4)........................ 0.50% --- 0.08% 0.58%
Growth Portfolio(4)............................... 0.60% --- 0.09% 0.69%
Money Market Portfolio............................ 0.21% --- 0.10% 0.31%
Fidelity VIP Fund II
Asset Manager(4).................................. 0.55% --- 0.10% 0.65%
Contrafund Portfolio(4)........................... 0.60% --- 0.11% 0.71%
Index 500 Portfolio(5)............................ 0.24% --- 0.04% 0.28%
Investment Grade Bond Portfolio................... 0.44% --- 0.14% 0.58%
OCC Accumulation Trust
Managed Portfolio(6).............................. 0.80% --- 0.07% 0.87%
Small Cap Portfolio(6)............................ 0.80% --- 0.17% 0.97%
T. Rowe Price Fixed Income Series, Inc.
Limited-Term Bond Portfolio(7).................... 0.70% --- 0.00% 0.70%
T. Rowe Price International Series, Inc.
International Stock Portfolio(7).................. 1.05% --- 0.00% 1.05%
Van Eck Worldwide Insurance Trust
Worldwide Hard Assets Portfolio................... 1.00% --- 0.17% 1.17%
</TABLE>
This fee table will help you understand the costs and expenses that you
will pay directly or indirectly when you invest in the Contract. The table
reflects the actual charges and expenses for the Separate Account and the
Portfolios for the year ended December 31, 1997. For a more complete description
of these charges and expenses, see "Fees and Charges" in this prospectus and the
prospectus for each Portfolio that is attached to this prospectus.
(4) A portion of the brokerage commission that the Equity Income, Growth,
Asset Manager, and Contrafund Portfolios pay was used to reduce fund expenses.
In addition, these Portfolios have entered into arrangements with their
custodian whereby credits realized, as a result of uninvested cash balances,
were used to reduce custodian expenses. Including these reductions, the total
operating expenses presented in the fee table would have been:
1
<PAGE> 2
0.57% for the Equity Income Portfolio; 0.67% for the Growth Portfolio; 0.64% for
the Asset Manager Portfolio; and 0.68% for the Contrafund Portfolio.
(5) Fidelity Management and Research Company agreed to reimburse a portion
of the Fidelity Index 500 Portfolio's expenses during the period. Without this
reimbursement, the Portfolio's Management Fees, Other Expenses, and Total Annual
Portfolio Expenses would have been 0.27%, 0.13%, and 0.40%, respectively.
(6) The Other Expenses of the OCC Accumulation Trust Portfolios as of
December 31, 1997 are shown gross of certain expense offsets afforded the
Portfolios which effectively lowered overall custody expenses. The Total Annual
Portfolio Expenses of the Managed and Small Cap Portfolios are limited by OpCap
Advisors so that their respective annualized operating expenses (net of any
expense offsets) do not exceed 1.00% of their respective average daily net
assets. Without such limitations, and without giving effect to any expense
offsets, the Management Fees, Other Expenses and Total Annual Portfolio Expenses
incurred for the fiscal year ended December 31, 1997 would have been: 0.80%,
0.07% and 0.87%, respectively, for the Managed Portfolio; and 0.80%, 0.17% and
0.97%, respectively, for the Small Cap Portfolio.
(7) The Limited-Term Bond Portfolio pays T. Rowe Price an annual
all-inclusive fee of 0.70%, computed daily and paid monthly, based on its
average daily net assets. The International Stock Portfolio pays Rowe
Price-Fleming International, Inc. ("Price-Fleming") an annual all-inclusive fee
of 1.05%, computed daily and paid monthly, based on its average daily net
assets. These fees pay for investment management services and other operating
costs of the Portfolios.
EXAMPLES
(NOTE: The examples shown below are entirely hypothetical. They are not
representations of past or future performance or expenses. Actual performance
and/or expenses may be more or less than shown.)
Examples: You would pay the following expenses on a $1,000
investment, assuming a 5% annual return on assets and the changes and
expenses listed on the Fee Table above.
1. If you fully withdraw all Contract Value (or if you elect to
annuitize under a period certain option for a period of less than 10
years) at the end of the stated period:
<TABLE>
<CAPTION>
Name of Portfolio 1 Year 3 Years 5 Years 10 Years
----------------- -------- --------- --------- ---------
<S> <C> <C> <C> <C>
Alger American Fund
-------------------
MidCap Growth Portfolio........................ $ 94.50 143.44 198.64 273.95
Small Capitalization Portfolio................. $ 95.02 144.91 201.27 279.19
Fidelity VIP Fund
-----------------
Equity-Income Portfolio........................ $ 91.77 135.03 184.89 246.26
Growth Portfolio............................... $ 92.92 139.03 190.73 258.07
Money Market Portfolio......................... $ 88.94 127.79 170.44 216.73
Fidelity VIP Fund II
--------------------
Asset Manager Portfolio........................ $ 92.50 137.85 188.61 253.79
Contrafund Portfolio........................... $ 93.13 139.62 191.79 260.20
Index 500 Portfolio............................ $ 88.62 126.90 168.83 213.40
Investment Grade Bond Portfolio................ $ 91.77 135.79 184.89 246.26
OCC Accumulation Trust
----------------------
Managed Portfolio.............................. $ 94.81 144.32 200.22 277.10
Small Cap Portfolio............................ $ 95.86 147.25 205.46 287.52
</TABLE>
2
<PAGE> 3
<TABLE>
<S> <C> <C> <C> <C>
T. Rowe Price Fixed Income Series
---------------------------------
Limited-Term Bond Portfolio.................... $ 93.03 139.32 191.26 259.13
T. Rowe Price International Series
----------------------------------
International Stock Portfolio.................. $ 96.70 149.59 209.64 295.78
Van Eck Worldwide Insurance Trust
---------------------------------
Worldwide Hard Assets Portfolio................ $ 97.96 153.10 215.88 308.05
</TABLE>
2. If you do not fully withdraw all Contract Value (or if you elect
to annuitize under a payout plan with a life contingency or under a period
certain option with a period certain of at least 10 years) at the end of the
stated time:
<TABLE>
<CAPTION>
Name of Portfolio 1 Year 3 Years 5 Years 10 Years
----------------- -------- --------- --------- ---------
<S> <C> <C> <C> <C>
Alger American Fund
-------------------
MidCap Growth Portfolio........................ $ 24.50 75.31 128.64 273.95
Small Capitalization Portfolio................. $ 25.02 76.88 131.27 279.19
Fidelity VIP Fund
-----------------
Equity-Income Portfolio........................ $ 21.77 67.09 114.89 246.26
Growth Portfolio............................... $ 22.92 70.57 120.73 258.07
Money Market Portfolio......................... $ 18.94 58.50 100.44 216.73
Fidelity VIP Fund II
--------------------
Asset Manager Portfolio........................ $ 22.50 69.30 118.61 253.79
Contrafund Portfolio........................... $ 23.13 71.20 121.79 260.20
Index 500 Portfolio............................ $ 18.62 57.55 98.83 213.40
Investment Grade Bond Portfolio................ $ 21.77 67.09 114.89 246.26
OCC Accumulation Trust
----------------------
Managed Portfolio.............................. $ 24.81 76.25 130.22 277.10
Small Cap Portfolio............................ $ 25.86 79.40 135.46 287.52
T. Rowe Price Fixed Income Series
---------------------------------
Limited-Term Bond Portfolio.................... $ 23.03 70.89 121.26 259.13
T. Rowe Price International Series
----------------------------------
International Stock Portfolio.................. $ 26.70 81.91 139.64 295.78
Van Eck Worldwide Insurance Trust
---------------------------------
Worldwide Hard Assets Portfolio................ $ 27.96 85.67 145.88 308.05
</TABLE>
The examples provided above assume that no transfer charges or premium
taxes have been assessed. The examples reflect the annualized Contract Fee of
$30 assessed on an average Contract Value of $30,000. This translates the
Contract Fee into a .10% charge for the purposes of the examples based on a
$1,000 investment.
THE EXAMPLES SHOULD NOT BE CONSIDERED A REPRESENTATION OF PAST OR FUTURE
EXPENSES. ACTUAL EXPENSES MAY BE GREATER OR LESSER THAN THOSE SHOWN. THE ASSUMED
5% ANNUAL RATE OF RETURN IS HYPOTHETICAL AND SHOULD NOT BE CONSIDERED A
REPRESENTATION OF PAST OR FUTURE ANNUAL RETURNS, WHICH MAY BE GREATER OR LESS
THAN THIS ASSUMED RATE.
3
<PAGE> 4
SUPPLEMENT DATED JANUARY 15, 1999 TO PROSPECTUS DATED MAY 1, 1998
IL ANNUITY AND INSURANCE COMPANY
IL ANNUITY AND INSURANCE CO. SEPARATE ACCOUNT I
VISIONARY CHOICE VARIABLE ANNUITY
The sections in the prospectus captioned "FEE TABLE" and "EXAMPLES" are
revised to reflect the following:
FEE TABLE
INVESTMENT PORTFOLIO ANNUAL EXPENSES
(as a percentage of average daily net assets of a Portfolio after expense
cap or reimbursement)
<TABLE>
<CAPTION>
Total Annual
Other Expenses Expenses (after
Management Fees (after waivers and
Name of Portfolio (after waivers) 12b-1 Fees reimbursement) reimbursement)
- ----------------- --------------- ---------- -------------- -------------
<S> <C> <C> <C> <C>
Alger American Fund
MidCap Growth Portfolio........................... 0.80% --- 0.04% 0.84%
Small Capitalization Portfolio.................... 0.85% --- 0.04% 0.89%
Fidelity VIP Fund
Equity Income Portfolio(4)........................ 0.50% --- 0.08% 0.58%
Growth Portfolio(4)............................... 0.60% --- 0.09% 0.69%
Money Market Portfolio............................ 0.21% --- 0.10% 0.31%
Fidelity VIP Fund II
Asset Manager(4).................................. 0.55% --- 0.10% 0.65%
Contrafund Portfolio(4)........................... 0.60% --- 0.11% 0.71%
Index 500 Portfolio(5)............................ 0.24% --- 0.04% 0.28%
Investment Grade Bond Portfolio................... 0.44% --- 0.14% 0.58%
OCC Accumulation Trust
Managed Portfolio(6).............................. 0.80% --- 0.07% 0.87%
Small Cap Portfolio(6)............................ 0.80% --- 0.17% 0.97%
Royce Capital Fund
Royce Micro-Cap Portfolio(7)...................... 0.00% --- 1.35% 1.35%
SAFECO Resource Series Trust
SAFECO Equity Portfolio........................... 0.73% --- 0.02% 0.75%
SAFECO Growth Portfolio........................... 0.74% --- 0.03% 0.77%
SoGen Variable Funds, Inc.
SoGen Overseas Portfolio(8)....................... 0.00% 0.25% 1.75% 2.00%
T. Rowe Price Fixed Income Series, Inc.
Limited-Term Bond Portfolio(9).................... 0.70% --- 0.00% 0.70%
T. Rowe Price International Series, Inc.
International Stock Portfolio(9).................. 1.05% --- 0.00% 1.05%
Van Eck Worldwide Insurance Trust
Worldwide Hard Assets Portfolio................... 1.00% --- 0.17% 1.17%
</TABLE>
1
<PAGE> 5
This fee table will help you understand the costs and expenses that you
will pay directly or indirectly when you invest in the Contract. The table
reflects the actual charges and expenses for the Separate Account and the
Portfolios for the year ended December 31, 1997. For a more complete description
of these charges and expenses, see "Fees and Charges" in this prospectus and the
prospectus for each Portfolio that is attached to this prospectus.
(4) A portion of the brokerage commission that the Equity Income, Growth,
Asset Manager, and Contrafund Portfolios pay was used to reduce fund expenses.
In addition, these Portfolios have entered into arrangements with their
custodian whereby credits realized, as a result of uninvested cash balances,
were used to reduce custodian expenses. Including these reductions, the total
operating expenses presented in the fee table would have been: 0.57% for the
Equity Income Portfolio; 0.67% for the Growth Portfolio; 0.64% for the Asset
Manager Portfolio; and 0.68% for the Contrafund Portfolio.
(5) Fidelity Management and Research Company agreed to reimburse a portion of
the Fidelity Index 500 Portfolio's expenses during the period. Without this
reimbursement, the Portfolio's Management Fees, Other Expenses, and Total Annual
Portfolio Expenses would have been 0.27%, 0.13%, and 0.40%, respectively.
(6) The Other Expenses of the OCC Accumulation Trust Portfolios as of
December 31, 1997 are shown gross of certain expense offsets afforded the
Portfolios which effectively lowered overall custody expenses. The Total Annual
Portfolio Expenses of the Managed and Small Cap Portfolios are limited by OpCap
Advisors so that their respective annualized operating expenses (net of any
expense offsets) do not exceed 1.00% of their respective average daily net
assets. Without such limitations, and without giving effect to any expense
offsets, the Management Fees, Other Expenses and Total Annual Portfolio Expenses
incurred for the fiscal year ended December 31, 1997 would have been: 0.80%,
0.07% and 0.87%, respectively, for the Managed Portfolio; and 0.80%, 0.17% and
0.97%, respectively, for the Small Cap Portfolio.
(7) Royce & Associates, Inc., the investment adviser to the Royce Micro-Cap
Portfolio, has voluntarily committed to waive its management fees and reimburse
Other Expenses through December 31, 1999 to the extent necessary to maintain
Total Annual Expenses of the Portfolio at or below 1.35%. Without such waiver
and reimbursement, the Management Fee was 1.25% and Total Annual Expenses were
7.32% for fiscal year 1997.
(8) The 12b-1 fee for the SoGen Overseas Portfolio is imposed to enable the
Portfolio to recover certain sales expenses, including compensation to
broker-dealers, the cost of printing prospectuses, advertising costs and
shareholder servicing-related expenses for the Portfolio. Over a long period of
time, the total amount of 12b-1 fees paid may exceed the amount of sales charges
imposed by other portfolios. Under the terms of an investment advisory agreement
dated August 16, 1996, the SoGen Overseas Portfolio pays its investment adviser
a monthly advisory fee at an annual rate of 0.75% of the average daily net
assets of the Portfolio. For the period since inception through December 31,
1997, the adviser waived its investment advisory fee in its entirety and
reimbursed the Portfolio for all expenses in excess of 2.00% of average daily
net assets. Without such waiver and reimbursements, the Management Fee was
0.75%, Other Expenses were 15.32%, and Total Annual Expenses were 16.07%.
(9) The Limited-Term Bond Portfolio pays T. Rowe Price an annual
all-inclusive fee of 0.70%, computed daily and paid monthly, based on its
average daily net assets. The International Stock Portfolio pays Rowe
Price-Fleming International, Inc. ("Price-Fleming") an annual all-inclusive fee
of 1.05%, computed daily and paid monthly, based on its average daily net
assets. These fees pay for investment management services and other operating
costs of the Portfolios.
2
<PAGE> 6
EXAMPLES
(NOTE: The examples shown below are entirely hypothetical. They are not
representations of past or future performance or expenses. Actual performance
and/or expenses may be more or less than shown.)
Examples 1 and 2 show expenses for Contracts with a DATE OF ISSUE
WITHDRAWAL CHARGE OPTION.
Examples: You would pay the following expenses on a $1,000
investment, assuming a 5% annual return on assets and the changes and
expenses listed on the Fee Table above.
1. If you fully withdraw all Contract Value (or if you elect to
annuitize under a period certain option for a period of less than 10
years) at the end of the stated period:
<TABLE>
<CAPTION>
Name of Portfolio 1 Year 3 Years 5 Years 10 Years
----------------- -------- --------- --------- ---------
<S> <C> <C> <C> <C>
Alger American Fund
MidCap Growth Portfolio........................ $ 94.50 143.44 198.64 273.95
Small Capitalization Portfolio................. $ 95.02 144.91 201.27 279.19
Fidelity VIP Fund
Equity-Income Portfolio........................ $ 91.77 135.03 184.89 246.26
Growth Portfolio............................... $ 92.92 139.03 190.73 258.07
Money Market Portfolio......................... $ 88.94 127.79 170.44 216.73
Fidelity VIP Fund II
Asset Manager Portfolio........................ $ 92.50 137.85 188.61 253.79
Contrafund Portfolio........................... $ 93.13 139.62 191.79 260.20
Index 500 Portfolio............................ $ 88.62 126.90 168.83 213.40
Investment Grade Bond Portfolio................ $ 91.77 135.79 184.89 246.26
OCC Accumulation Trust
Managed Portfolio.............................. $ 94.81 144.32 200.22 277.10
Small Cap Portfolio............................ $ 95.86 147.25 205.46 287.52
Royce Capital Fund
Royce Micro-Cap Portfolio...................... $ 99.85 158.33 224.95 326.17
SAFECO Resource Series Trust
SAFECO Equity Portfolio........................ $ 93.55 140.80 193.90 264.45
SAFECO Growth Portfolio........................ $ 93.76 141.38 194.96 266.57
SoGen Variable Funds, Inc.
SoGen Overseas Variable Portfolio.............. $106.67 177.08 255.57 388.89
T. Rowe Price Fixed Income Series
Limited-Term Bond Portfolio.................... $ 93.03 139.32 191.26 259.13
T. Rowe Price International Series
International Stock Portfolio.................. $ 96.70 149.59 209.64 295.78
Van Eck Worldwide Insurance Trust
Worldwide Hard Assets Portfolio................ $ 97.96 153.10 215.88 308.05
</TABLE>
3
<PAGE> 7
2. If you do not fully withdraw all Contract Value (or if you
elect to annuitize under a payout plan with a life contingency or under a
period certain option with a period certain of at least 10 years) at the
end of the stated time:
<TABLE>
<CAPTION>
Name of Portfolio 1 Year 3 Years 5 Years 10 Years
----------------- -------- --------- --------- ---------
<S> <C> <C> <C> <C>
Alger American Fund
MidCap Growth Portfolio........................ $ 24.50 75.31 128.64 273.95
Small Capitalization Portfolio................. $ 25.02 76.88 131.27 279.19
Fidelity VIP Fund
Equity-Income Portfolio........................ $ 21.77 67.09 114.89 246.26
Growth Portfolio............................... $ 22.92 70.57 120.73 258.07
Money Market Portfolio......................... $ 18.94 58.50 100.44 216.73
Fidelity VIP Fund II
Asset Manager Portfolio........................ $ 22.50 69.30 118.61 253.79
Contrafund Portfolio........................... $ 23.13 71.20 121.79 260.20
Index 500 Portfolio............................ $ 18.62 57.55 98.83 213.40
Investment Grade Bond Portfolio................ $ 21.77 67.09 114.89 246.26
OCC Accumulation Trust
Managed Portfolio.............................. $ 24.81 76.25 130.22 277.10
Small Cap Portfolio............................ $ 25.86 79.40 135.46 287.52
Royce Capital Fund
Royce Micro-Cap Portfolio...................... $ 29.85 91.30 155.18 326.17
SAFECO Resource Series Trust
SAFECO Equity Portfolio........................ $ 23.55 72.47 123.90 264.45
SAFECO Growth Portfolio........................ $ 23.76 73.10 124.96 266.57
SoGen Variable Funds, Inc.
SoGen Overseas Variable Portfolio.............. $ 36.67 111.43 188.15 388.89
T. Rowe Price Fixed Income Series
Limited-Term Bond Portfolio.................... $ 23.03 70.89 121.26 259.13
T. Rowe Price International Series
International Stock Portfolio.................. $ 26.70 81.91 139.64 295.78
Van Eck Worldwide Insurance Trust
Worldwide Hard Assets Portfolio................ $ 27.96 85.67 145.88 308.05
</TABLE>
4
<PAGE> 8
Examples 3-4 show examples for Contracts with a DATE OF PREMIUM PAYMENT
WITHDRAWAL OPTION.
Examples: You would pay the following expenses on a $1,000
investment, assuming a 5% annual return on assets and the charges and
expenses listed on the Fee Table above:
3. If you fully withdraw all Contract Value (or if you elect to
annuitize under a period certain option for a period of less than 10
years) at the end of the stated time period:
<TABLE>
<CAPTION>
Name of Portfolio 1 Year 3 Years 5 Years 10 Years
----------------- -------- --------- --------- ---------
<S> <C> <C> <C> <C>
Alger American Fund
MidCap Growth Portfolio........................ $ 94.50 123.97 158.64 273.95
Small Capitalization Portfolio................. $ 95.02 125.47 161.27 279.19
Fidelity VIP Fund
Equity-Income Portfolio........................ $ 91.77 116.16 144.89 246.26
Growth Portfolio............................... $ 92.92 119.47 150.73 258.07
Money Market Portfolio......................... $ 88.94 108.00 130.44 216.73
Fidelity VIP Fund II
Asset Manager Portfolio........................ $ 92.50 118.27 148.61 253.79
Contrafund Portfolio........................... $ 93.13 120.07 151.79 260.20
Index 500 Portfolio............................ $ 88.62 107.09 128.83 213.40
Investment Grade Bond Portfolio................ $ 91.77 116.16 144.89 246.26
OCC Accumulation Trust
Managed Portfolio.............................. $ 94.81 124.87 160.22 277.10
Small Cap Portfolio............................ $ 95.86 127.87 165.46 287.52
Royce Capital Fund
Royce Micro-Cap Portfolio...................... $ 99.85 139.18 185.08 326.17
SAFECO Resource Series Trust
SAFECO Equity Portfolio........................ $ 93.55 121.27 153.90 264.45
SAFECO Growth Portfolio........................ $ 93.76 121.87 154.96 266.57
SoGen Variable Funds, Inc.
SoGen Overseas Variable Portfolio $106.67 158.32 217.05 388.89
T. Rowe Price Fixed Income Series
Limited-Term Bond Portfolio.................... $ 93.03 119.77 151.26 259.13
T. Rowe Price International Series
International Stock Portfolio.................. $ 96.70 130.26 169.64 295.78
Van Eck Worldwide Insurance Trust
Worldwide Hard Assets Portfolio................ $ 97.96 133.83 175.88 308.05
</TABLE>
5
<PAGE> 9
4. If you do not fully withdraw all Contract Value (or if you
elect to annuitize under a payout plan with a life contingency or under a
period certain option with a period certain of at least 10 years) at the
end of the stated time:
<TABLE>
<S> <C> <C> <C> <C>
Alger American Fund
MidCap Growth Portfolio........................ $ 24.50 75.31 128.64 273.95
Small Capitalization Portfolio................. $ 25.02 76.88 131.27 279.19
Fidelity VIP Fund
Equity-Income Portfolio........................ $ 21.77 67.09 114.89 246.26
Growth Portfolio............................... $ 22.92 70.57 120.73 258.07
Money Market Portfolio......................... $ 18.94 58.50 100.44 216.73
Fidelity VIP Fund II
Asset Manager Portfolio........................ $ 22.50 69.30 118.61 253.79
Contrafund Portfolio........................... $ 23.13 71.20 121.79 260.20
Index 500 Portfolio............................ $ 18.62 57.55 98.83 213.40
Investment Grade Bond Portfolio................ $ 21.77 67.09 114.89 246.26
OCC Accumulation Trust
Managed Portfolio.............................. $ 24.81 76.25 130.22 277.10
Small Cap Portfolio............................ $ 25.86 79.40 135.46 287.52
Royce Capital Fund
Royce Micro-Cap Portfolio...................... $ 29.85 91.30 155.18 326.17
SAFECO Resource Series Trust
SAFECO Equity Portfolio........................ $ 23.55 72.47 123.90 264.45
SAFECO Growth Portfolio........................ $ 23.76 73.10 124.96 266.57
SoGen Variable Funds, Inc.
SoGen Overseas Variable Portfolio.............. $ 36.67 111.43 188.15 388.89
T. Rowe Price Fixed Income Series
Limited-Term Bond Portfolio.................... $ 23.03 70.89 121.26 259.13
T. Rowe Price International Series
International Stock Portfolio.................. $ 26.70 81.91 139.64 295.78
Van Eck Worldwide Insurance Trust
Worldwide Hard Assets Portfolio................ $ 27.96 85.67 145.88 308.05
</TABLE>
The examples provided above assume that no transfer charges or
premium taxes have been assessed. The examples reflect the annualized Contract
Fee of $30 assessed on an average Contract Value of $30,000. This translates the
Contract Fee into a .10% charge for the purposes of the examples based on a
$1,000 investment. THE EXAMPLES SHOULD NOT BE CONSIDERED A REPRESENTATION OF
PAST OR FUTURE EXPENSES. ACTUAL EXPENSES MAY BE GREATER OR LESSER THAN THOSE
SHOWN. THE ASSUMED 5% ANNUAL RATE OF RETURN IS HYPOTHETICAL AND SHOULD NOT BE
CONSIDERED A REPRESENTATION OF PAST OR FUTURE ANNUAL RETURNS, WHICH MAY BE
GREATER OR LESS THAN THIS ASSUMED RATE.
6
