CONNECTICUT MUTUAL INVESTMENT ACCOUNTS, INC.
                             (the "Company")

             SUPPLEMENT DATED NOVEMBER 20, 1995 TO THE PROSPECTUS
                           Dated October 1, 1995

                    Connecticut Mutual Liquid Account

                        Class A and Class B Shares
              Connecticut Mutual Government Securities Account
                      Connecticut Mutual Income Account
                    Connecticut Mutual Total Return Account
                      Connecticut Mutual Growth Account

     At a meeting of the Company's Board of Directors on November 17, 1995, the
Board approved several changes to the management of the Company and the 
Accounts in anticipation of the merger (the "Merger") between Connecticut
Mutual Life Insurance Company ("Connecticut Mutual") and Massachusetts
Mutual Life Insurance Company ("Massachusetts Mutual").  Connecticut Mutual
is the indirect parent company of G.R. Phelps & Co., Inc. ("G.R. Phelps"), the
current investment adviser to all Accounts.  The Merger is expected to be
consummated during the first three months of 1996.

     The Board has approved the following changes subject to consummation of 
the Merger and to the approval of the Accounts' shareholders:

*     The selection of Oppenheimer Management Corporation ("Oppenheimer"),
      Two World Trade Center, New York, NY, as the investment adviser to all
      Accounts.  Oppenheimer is a registered investment adviser, which
      together with its affiliates, has over $38 billion under management.
      Oppenheimer is an indirect subsidiary of Massachusetts Mutual.
      (Effective immediately upon consummation of the Merger and approval
      by shareholders.)

      The rate of the investment management fee applicable to each Account
      will not change as a result of Oppenheimer's assumption of management
      of the Accounts.

*     The selection of Oppenheimer Funds Distributor, Inc. ("OFD"), an
      affiliate of Oppenheimer, as the principal underwriter of the Accounts'
      shares.  (Effective no later than 90 days after the consummation of the
      Merger and approval by shareholders.)

*     The amendment of each Account's (except Liquid Account) Class A Rule
      12b-1 distribution plan to permit the payment of service fees to OFD and
      others, including affiliates of OFD ("Qualified Recipients"). (Effective
      no later than 90 days after the consummation of the Merger and approval
      by shareholders.)

         The maximum level of payment to OFD and Qualified Recipients pursuant
         to the Class A Rule 12b-1 plans will not be increased from the present
         maximum level.

*     The amendment of each Account's (except Liquid Account) Class B Rule
      12b-1 distribution plan to permit OFD and Qualified Recipients to be 
      compensated for expenditures under the Class B Rule 12b-1 plan for the
      full amount of the authorized payment.  (Effective no later than 90 days
      after the consummation of the Merger and approval by shareholders.)

         The maximum level of payment to OFD and Qualified Recipients pursuant
         to the Class B Rule 12b-1 plans will not be increased from the present
         maximum level.

*     The proposed reorganization of Liquid Account, Government Securities
      Account and Income Account, respectively, into mutual funds currently
      managed by Oppenheimer with comparable investment objectives and
      policies.

*     The nomination of twelve (12) new directors to serve as the Company's
      Board of Directors.  (Effective 90 days after the  consummation of the 
      Merger and approval by shareholders.)

     The Board has also approved the appointment of Oppenheimer Shareholder
Services as the Company's transfer agent and shareholder servicing agent.

     Until the transition to full service by Oppenheimer and its affiliates to
the Accounts is completed during the 90 day period after the consummation of
the Merger, distribution services will continue to be provided by Connecticut
Mutual Financial Services, L.L.C. (the current distributor) and transfer
agency and shareholder services will be provided by National Financial Data
Services (the current transfer agent). The Liquid Account's existing Rule 12b-1
plan will remain in effect after the Merger, except that OFD will be authorized
to receive payments under the plan at such time as OFD assumes responsibility 
for distribution services.



November 20, 1995