Rule No. 424(b)(3)
File No. 333-01783
GROUP AND INDIVIDUAL SINGLE PREMIUM
ANNUITY CONTRACTS
Issued by
KEYPORT LIFE INSURANCE COMPANY
SUPPLEMENT DATED JANUARY 13, 1999 TO THE
PROSPECTUS DATED MAY 1, 1998
- --------------------------------------------------------------------------
The second paragraph in "Section A. Business - General" under the title
"The Company" on page 19 of the prospectus is changed to read:
Keyport is licensed to do business in all states except New York and is
also licensed in the District of Columbia and the Virgin Islands. Keyport
has been rated A (Excellent) by A.M. Best and Company, independent analysts
of the insurance industry. Standard & Poor's ("S&P") has rated Keyport AA
for excellent financial security, Moody's Investor Services ("Moody's") has
rated Keyport A2 for good financial strength and Duff & Phelps has rated
Keyport AA- for very high claims paying ability. The Best's A rating is in
the second highest rating category, which also includes a lower rating of A-
. S&P and Duff & Phelps have one rating category above AA and Moody's has
two rating categories above A. Within the S&P AA category, only AA+ is
higher. The Moody's "2" modifier signifies that Keyport is in the middle of
the A category while the Duff & Phelps "-" modifier signifies that Keyport
is at the lower end of the AA category. These ratings merely reflect the
opinion of the rating company as to the relative financial strength of
Keyport and Keyport's ability to meet its contractual obligations to its
policyholders.
- --------------------------------------------------------------------------
Client Service Hotline
800-367-3653 (press 3)
Distributed by:
Keyport Financial Services Corp.
125 High Street
Boston, Massachusetts 02110
MVA.SUP 1/99