-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, T9SICxU9TyM2EXCsiBeMFLhcAjNUHotCiGDc2qRWhq2Mk4bW/GBxE8yoDnpoaVo3 lZsHgL+VnHNUssAx2+8YNA== 0000881453-00-000008.txt : 20000202 0000881453-00-000008.hdr.sgml : 20000202 ACCESSION NUMBER: 0000881453-00-000008 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000118 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN SKANDIA LIFE ASSURANCE CORP/CT CENTRAL INDEX KEY: 0000881453 STANDARD INDUSTRIAL CLASSIFICATION: INSURANCE CARRIERS, NEC [6399] IRS NUMBER: 061241288 STATE OF INCORPORATION: CT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: SEC FILE NUMBER: 033-62953 FILM NUMBER: 508760 BUSINESS ADDRESS: STREET 1: ONE CORPORATE DRIVE CITY: SHELTON STATE: CT ZIP: 06484 BUSINESS PHONE: 2039261888 MAIL ADDRESS: STREET 1: ONE CORPORATE DRIVE CITY: SHELTON STATE: CT ZIP: 06484 424B3 1 ASL S2 1/2000 SUPP SUPPLEMENT TO PROSPECTUS DATED MAY 3, 1999 SUPPLEMENT DATED JANUARY 3, 2000 This Supplement should be retained with the current Prospectus for your variable annuity contract issued by American Skandia Life Assurance Corporation ("American Skandia"). If you do not have a current prospectus, please contact American Skandia at 1-800-SKANDIA. A. ADDITIONAL VARIABLE INVESTMENT OPTION THE UNDERLYING PORTFOLIO SHOWN BELOW IS BEING OFFERED AS A NEW SUB-ACCOUNT UNDER YOUR ANNUITY AS OF JANUARY 3, 2000.
- ------------------------------------------------------------------------------------------------------------------------------------ UNDERLYING MUTUAL FUND PORTFOLIO ANNUAL EXPENSES (as a percentage of the average net assets of the underlying Portfolios) - ------------------------------------------------------------------------------------------------------------------------------------ - -------------------------------------------- ---------------- ------------- --------------- -------------- -------------- ---------- MANAGEMENT OTHER ESTIMATED TOTAL Annual Fee Net Fees Expenses Distribution Portfolio Waivers and Annual UNDERLYING PORTFOLIO and Service Operating Expense Fund (12b-1) Expenses Reimburse-ment Operating FEES(1) Expenses - -------------------------------------------- ---------------- ------------- --------------- -------------- -------------- ---------- - -------------------------------------------- ---------------- ------------- --------------- -------------- -------------- ---------- AST ALGER ALL-CAP GROWTH(2) 0.95% 0.22% 0.06% 1.23% N/A 1.23% - -------------------------------------------- ---------------- ------------- --------------- -------------- -------------- ----------
1 American Skandia Trust (the "Trust") adopted a Distribution Plan (the "Distribution Plan") under Rule 12b-1 of the Investment Company Act of 1940 to permit an affiliate of the Trust's Investment Manager to receive brokerage commissions in connection with purchases and sales of securities held by Portfolios of the Trust, and to use these commissions to promote the sale of shares of such Portfolios. The staff of the Securities and Exchange Commission takes the position that commission amounts received under the Distribution Plan should be reflected as distribution expenses of the Portfolios. The Portfolios would pay the same or comparable commission amounts irrespective of the Distribution Plan; accordingly, total returns for the Portfolios are not expected to be adversely affected. The Distribution Fee estimate is derived from data regarding other similar Portfolio's brokerage transactions, and the proportions of such transactions directed to selling dealers, for the period ended June 30, 1999. However, it is not possible to determine with accuracy actual amounts that will be received under the Distribution Plan. Such amounts will vary based upon the level of a Portfolio's brokerage activity, the proportion of such activity directed under the Distribution Plan, and other factors. 2 This Portfolio commenced operations as of December 30, 1999. "Other expenses" shown are based on estimated amounts for the fiscal year ending December 31, 2000. EXPENSE EXAMPLES THE EXPENSE EXAMPLE SHOWN BELOW IS BEING ADDED WITH RESPECT TO THE NEW PORTFOLIO THAT IS BEING OFFERED AS A SUB-ACCOUNT UNDER YOUR ANNUITY AS OF JANUARY 3, 2000. - -------------------------------------------------------------------------------- EXPENSE EXAMPLES (amounts shown are rounded to the nearest dollar) - -------------------------------------------------------------------------------- ------------------------------------------------- There is no Contingent Deferred Sales Charge on withdrawals. Therefore, whether or not you surrender your Annuity at the end of the applicable time period or begin taking annuity payments at such time, you would pay the following expenses on a $1,000 investment, assuming 5% annual return on assets: ------------------------------------------------- AFTER: - -------------------------------------- --------- ---------- --------- ---------- SUB-ACCOUNT: 1 YEAR 3 YEARS 5 YEARS 10 YEARS - -------------------------------------- --------- ---------- --------- ---------- AST Alger All-Cap Growth 28 85 144 304 - -------------------------------------- --------- ---------- --------- ---------- THE FOLLOWING UNDERLYING PORTFOLIO IS BEING ADDED TO THE SECTION ENTITLED "WHAT ARE THE INVESTMENT OBJECTIVES AND POLICIES OF THE PORTFOLIOS?" INVESTMENT OPTIONS
WHAT ARE THE INVESTMENT OBJECTIVES AND POLICIES OF THE PORTFOLIOS? - ------------------- ------------------------------------------------------------------------------------------------ --------------- PORTFOLIO STYLE/ INVESTMENT OBJECTIVES/POLICIES ADVISOR/ TYPE SUB-ADVISOR - ------------------- ------------------------------------------------------------------------------------------------ --------------- - ------------------- ------------------------------------------------------------------------------------------------ --------------- AST ALGER ALL-CAP GROWTH: SEEKS LONG-TERM CAPITAL GROWTH. The Portfolio invests primarily in equity securities, such as common or preferred stocks, that are listed on U.S. Fred Alger GROWTH exchanges or in the over-the-counter market. The Portfolio Management, Inc. may invest in the equity securities of companies of all sizes, and may emphasize either larger or smaller companies at a given time based on the Sub-advisor's assessment of particular companies and market conditions. - ------------------- ------------------------------------------------------------------------------------------------ ---------------
B. SUB-ACCOUNT CLOSING AST JANUS SMALL-CAP GROWTH PORTFOLIO/SUB-ACCOUNT American Skandia Trust is closing the AST Janus Small-Cap Growth portfolio to new allocations effective on the close of business, January 18, 2000. Except as indicated below, the AST Janus Small-Cap Growth portfolio will no longer be offered as a Sub-account under Annuities issued after January 18, 2000. Contracts issued on or before January 18, 2000 will not be allowed to allocate additional Account Value or make transfers into the AST Janus Small-Cap Growth Sub-account. Contracts issued after January 18, 2000 on applications received by American Skandia on or before January 18, 2000 will be allowed to make an initial allocation to the AST Janus Small-Cap Growth Sub-account if elected on the application but will not be allowed to make additional allocations. Bank drafting, dollar cost averaging, asset allocation and rebalancing programs that were effective on or before January 18, 2000 and included the AST Janus Small-Cap Growth Sub-account will be allowed to continue. However, no changes involving the AST Janus Small-Cap Growth Sub-account may be made to such programs. The Portfolio may be offered to new and existing Contract Owners as a Sub-account at some future date. However, at the present time, American Skandia has no intention to do so. ASL-SUPP. (01/03/2000)R VAASL 01/03R -----END PRIVACY-ENHANCED MESSAGE-----