SUPPLEMENT DATED MAY 30, 1996 TO
                      THE PROSPECTUS DATED MAY 1, 1996 FOR
                  STRATEGIC ADVANTAGE VARIABLE UNIVERSAL LIFE
               A FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE POLICY
                                   issued by
                   SECURITY LIFE OF DENVER INSURANCE COMPANY
                                    and its
                       SECURITY LIFE SEPARATE ACCOUNT L1


This Supplement updates certain information contained in your Prospectus.
Please read it carefully and keep it with your Prospectus for future reference.

The investment objective of the INVESCO VIF Industrial Income Portfolio on page
19 of the Prospectus is hereby deleted and amended to read as follows:

  INVESCO VIF Industrial Income Portfolio -- seeks the best possible current 
     income, while following sound investment practices. Capital growth
     potential is an additional consideration in the selection of portfolio
     securities. The Portfolio normally invests at least 65% of its total assets
     in dividend-paying common stocks. Up to 10% of the Portfolio's total assets
     may be invested in equity securities that do not pay regular dividends. The
     remaining assets are invested in other income-producing securities, such as
     corporate bonds. The Portfolio also has the flexibility to invest in other
     types of securities.

 
May 30, 1996



VIA EDGAR
- ---------



Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C.  20549

     Re:  Security Life Separate Account L1 (the "Registrant") of
          Security Life of Denver Insurance Company

          File No.:  33-88148

Commissioners:

Enclosed for filing pursuant to the requirement of Rule 497(d) under the
Securities Act of 1933, as amended (the "1933 Act") is a copy of a prospectus
supplement dated May 30, 1996 to the prospectus dated May 1, 1996 of the above
referenced Registrant.  The supplement describes a change in the investment
objective of the INVESCO VIF Industrial Income Portfolio, one of the underlying
funding options available through the variable life insurance policies issued
through the Registrant.

Please call the undersigned at (303) 894-4923 with any questions.

Very truly yours,

/s/:  KURT W. BERNLOHR

Kurt W. Bernlohr
Assistant General Counsel