<PAGE>
FIRST PROVIDIAN LIFE AND HEALTH INSURANCE COMPANY
SEPARATE ACCOUNT C
SUPPLEMENT
DATED JUNE 13, 1997
TO THE
PROSPECTUS DATED NOVEMBER 15, 1996
FOR THE
PROVIDIAN PRISM VARIABLE ANNUITY
OFFERED BY
FIRST PROVIDIAN LIFE AND HEALTH INSURANCE COMPANY
(A MISSOURI STOCK COMPANY)
The paragraph under the heading "First Providian Life and Health Insurance
Company" contained in "The Company and the Separate Account" section (which
section appears on page 11) is hereby deleted and replaced in its entirety as
follows:
"The Company (formerly National Home Life Assurance Company of New York) is a
stock life insurance company incorporated under the laws of the state of New
York on March 23, 1970, with administrative offices at 520 Columbia Drive,
Johnson City, New York 13790. The Company is principally engaged in offering
life insurance, annuity contracts, and accident and health insurance and is
admitted to do business in 10 states and the District of Columbia. As of
December 31, 1996, the Company had statutory assets of approximately $324
million. The Company is a wholly owned indirect subsidiary of AEGON
International N.V., which conducts substantially all of its operations through
subsidiary companies engaged in the insurance business or in providing non-
insurance financial services. All of the stock of AEGON International N.V. is
owned by AEGON N.V. of the Netherlands. AEGON N.V., a holding company, conducts
its business through subsidiary companies engaged primarily in the insurance
business."
<PAGE>
FIRST PROVIDIAN LIFE AND HEALTH INSURANCE COMPANY
SEPARATE ACCOUNT C
SUPPLEMENT
DATED JUNE 13, 1997
TO THE
STATEMENT OF ADDITIONAL INFORMATION DATED NOVEMBER 15, 1996
FOR THE
PROVIDIAN PRISM VARIABLE ANNUITY
OFFERED BY
FIRST PROVIDIAN LIFE AND HEALTH INSURANCE COMPANY
(A MISSOURI STOCK COMPANY)
The paragraph under the heading "THE COMPANY" on page 10 is hereby deleted and
replaced in its entirety as follows:
"All the stock of the Company is owned by Veterans Life Insurance Company, which
is a subsidiary of Providian Life and Health Insurance Company, a Missouri
insurance company ("PLH"). Providian Corporation owns a 4% interest in PLH and
61%, 15%, and 20% interests in PLH, respectively, are held by Commonwealth Life
Insurance Company, Peoples Security Life Insurance Company, and Capital Liberty,
L.P. Commonwealth Life Insurance Company and Peoples Security Life Insurance
Company are each wholly owned by Capital General Development Corporation, which
in turn is wholly owned by Providian Corporation. A 3% interest in Capital
Liberty, L.P. is owned by Providian Corporation, which is the general partner,
and 78% and 19% interests, respectively, are held by two limited partners,
Commonwealth Life Insurance Company and Peoples Security Life Insurance Company.
Providian Corporation is a wholly owned subsidiary of AEGON International N.V.
AEGON International N.V. is a wholly owned subsidiary of AEGON N.V. Vereniging
AEGON (a Netherlands membership association) has a 53% interest in AEGON N.V."
