Prospectus supplement dated March 22, 2019
to the
following prospectus(es):
BOA Multiple Pay (BOA Life
Planning Series Multiple Pay or BOA 5-pay) dated May 1, 2002
This
supplement updates certain information contained in your prospectus. Please read it and keep it with your prospectus for future reference. |
At a meeting held on December 13, 2018, the Board of Trustees
of Neuberger Berman Advisors Management Trust approved a Plan of Reorganization and Dissolution (the "Plan") under which the Guardian Portfolio (the "Merging Fund") will transfer all of its assets to the Sustainable Equity Portfolio (the "Surviving
Fund"). The merger will be effective on or about April 30, 2019 (the "Effective Date").
As a result of the merger, effective on or about April 26,
2019, the following changes apply to the policy:
•
|
the Merging Fund will no
longer be available to receive transfers or new purchase payments; |
•
|
the Merging Fund will
transfer all of its assets to the Surviving Fund in exchange for shares of the Surviving Fund; and |
•
|
the
Surviving Fund will assume all liabilities of the Merging Fund. |
Accordingly, the following changes apply to
the prospectus:
(1)
|
Appendix A: Underlying
Mutual Funds is amended to add the following: |
Neuberger Berman Advisers Management Trust -
Sustainable Equity Portfolio: Class I
This Sub-Account is only available in
policies issued before May 1, 2019
Investment
Advisor: |
Neuberger
Berman Investment Advisers LLC |
Investment
Objective: |
The
Fund seeks to invest primarily in common stocks of mid- to large-capitalization companies that meet the Fund's quality oriented financial and environmental, social and governance criteria. |
(2)
|
All references in the
prospectus to the Merging Fund are deleted and replaced with the Surviving Fund as of the Effective Date. |