Supplement dated January 31, 2022

to the Prospectus dated May 10, 2021 for

Executive Benefit VUL II

Issued by

Great-West Life & Annuity Insurance Company

COLI VUL-2 SERIES ACCOUNT

Supplement dated January 31, 2022

to the Prospectus dated May 3, 2003 for

Executive Benefit VUL II

Issued by

Great-West Life & Annuity Insurance Company of New York

COLI VUL-2 SERIES ACCOUNT

This Supplement amends certain information in your variable life insurance policy (“Policy”) prospectus (the “Prospectus”). Please read this Supplement carefully and keep it with your Prospectus for future reference.

The Great-West Large Cap Value Fund is closed to new Policies. Policies that currently hold the Fund may continue to allocate to that Fund.