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FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Report for fiscal year ending: 12/31/99
Is this an amendment to a previous filing? N
[THOSE ITEMS OR SUB-ITEMS WITH A BOX AFTER THE ITEM NUMBER SHOULD BE COMPLETED
ONLY IF THE ANSWER HAS CHANGED FROM THE PREVIOUS FILING ON THIS FORM.]
1. A. Registrant Name: NATIONAL VARIABLE LIFE INSURANCE ACCOUNT
B. File Number: 811-9044
C. Telephone Number: 802-229-3333
2. A. Street: ONE NATIONAL LIFE DRIVE
B. City: MONTPELIER
C. State: VERMONT
D. Zip Code: 05604
3. Is this the first filing on this form by Registrant? N
4. Is this the last filing on this form by Registrant? N
5. Is Registrant a small business investment company (SBIC)? N
6. Is Registrant a unit investment trust (UIT)? Y
[IF ANSWER IS "Y" (YES), COMPLETE ONLY ITEMS 111 THROUGH 132]
111. A. Depositor Name: NATIONAL LIFE INSURANCE COMPANY
B. File Number (if any): N/A
C. City: MONTPELIER
State: VERMONT
Zip Code: 05604
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112. A. Sponsor Name: NATIONAL LIFE INSURANCE COMPANY
B. File Number (if any): N/A
C. City: MONTPELIER
State: VERMONT
Zip Code: 05604
113. N/A
114. A. Principal Underwriter Name: EQUITY SERVICES, INC.
B. File Number: 8-14286
C. City: MONTPELIER
State: VERMONT
Zip Code: 05604
115. A. Independent Public Account Name: PricewaterhouseCoopers LLP
City: HARTFORD
State: CONNECTICUT
Zip Code: 06103
116. Family of investment companies information:
A. Is Registrant part of a family of investment companies? N
117. A. Is Registrant a separate account of an insurance company? Y
If answer is "Y" (Yes), are any of the following types
of contracts funded by the Registration:
B. Variable annuity contracts? N
C. Scheduled premium variable life contracts N
D. Flexible premium variable life contracts? Y
E. Other types of insurance products registered under
the Securities Act of 1933? N
118. State the number of series existing at the end of the
period that had securities registered under the Securities
Act of 1933 3
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119. State the number of new series for which registration
statements under the Securities Act of 1933 became
effective during the period 1
120. State the total value of the portfolio securities on
the date of deposit for the new series included in item
119 ($000's omitted) - $ 200
121. State the number of series for which a current prospectus
was in existence at the end of the period 3
122. State the number of existing series for which additional
units were registered under the Securities Act of 1933
during the current period 3
123. State the total value of the additional units considered
in answering item 122 ($000's omitted) $ 47,494
124. State the total value of units of prior series that were
placed in the portfolios of subsequent series during the
current period (the value of these units is to be
measured on the date they were placed in the subsequent
series) ($000's omitted) $ 0
125. State the total dollar amount of sales loads collected
(before reallowances to other brokers or dealers) by
Registrant's principal underwriter and any underwriter
which is an affiliated person of the principal underwriter
during the current period solely from the sale of units
of all series of Registrant: ($000's omitted) $ 240
126. Of the amount shown in Item 125, state the total dollar
amount of sales loads collected from secondary market
operations in Registrant's units (include the sales
loads, if any, collected on units of a prior series
placed in the portfolio of a subsequent series.)
($000's omitted) $ 0
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127. List opposite the appropriate description below the
number of series whose portfolios are invested primarily
(based upon a percentage of NAV) in each type of
security shown, the aggregate total assets at market
value as of a date at or near the end of the current
period of each such group of series and the total
income distributions made by each such group of
series during the current period (excluding distributions
of realized gains, if any):
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------
Number of Total Assets Total Income
Series ($000's Distributions
Investing omitted) ($000's omitted)
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
A. U.S. Treasury direct use $ $
- -----------------------------------------------------------------------------------------------------------
B. U. S. Government agency $ $
- -----------------------------------------------------------------------------------------------------------
C. State and municipal tax-free $ $
- -----------------------------------------------------------------------------------------------------------
D. Public utility debt $ $
- -----------------------------------------------------------------------------------------------------------
E. Brokers and dealers debt or debt $ $
of brokers' or dealers' parents
- -----------------------------------------------------------------------------------------------------------
F. All other corporate intermed. & $ $
long-term debt
- -----------------------------------------------------------------------------------------------------------
G. All other corporate short-term debt $ $
- -----------------------------------------------------------------------------------------------------------
H. Equity securities of brokers or dealers $ $
or parents of brokers or dealers
- -----------------------------------------------------------------------------------------------------------
I. INVESTMENT COMPANY EQUITY SECURITIES 3 $ 115,235 $ 4,157
- -----------------------------------------------------------------------------------------------------------
J. All other equity securities $ $
- -----------------------------------------------------------------------------------------------------------
K. Other securities $ $
- -----------------------------------------------------------------------------------------------------------
L. TOTAL ASSETS OF ALL SERIES OF REGISTRANT $ 115,235 $ 4,157
- -----------------------------------------------------------------------------------------------------------
</TABLE>
128. Is the timely payment of principal and interest on any of
the portfolio securities held by any of Registrant's series
at the end of the current period insured or guaranteed by
an entity other than the issuer? N
[IF THE ANSWER IS "N" (NO), GO TO ITEM 131.]
129. N/A
130. N/A
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131. Total expenses incurred by all series of Registrant
during the current reporting period ($000's omitted) $ 753
132. List the "811" (Investment Company Act of 1940) registration
number for all Series of Registrant that are being
included in this filing:
811-9044.
This report is signed on behalf of the depositor in the City of Montpelier and
State of Vermont on February 28, 2000.
NATIONAL VARIABLE LIFE INSURANCE ACCOUNT
by: NATIONAL LIFE INSURANCE COMPANY
(Name of Depositor)
By: /s/ Gregory H. Doremus
--------------------------
Senior Vice President
