AdvisorDesigns Variable Annuity Issued by:    Security Benefit Life Insurance Company
One Security Benefit Place
Topeka, Kansas 66636-0001

Supplement Dated November 15, 2005,
To Current Prospectus Dated May 1, 2005

Effective November 15, 2005, the Potomac VP Money Market Subaccount is no longer available, and the following new Subaccounts are available, under the Contract:

• Rydex VT Commodities
• Rydex VT Strengthening Dollar
• Rydex VT Weakening Dollar

The list of Subaccounts on the cover page and under "The Separate Account and the Funds," page 6, is updated to read as follows:

• AIM V.I. Capital Appreciation
• Federated High Income Bond II
• Federated Fund for U.S. Government Securities II
• Fidelity^® VIP Contrafund^®
• Fidelity^® VIP Growth Opportunities
• Fidelity^® VIP Index 500
• Fidelity^® VIP Investment Grade Bond
• Neuberger Berman AMT Guardian
• Neuberger Berman AMT Partners
• PIMCO VIT Real Return
• PIMCO VIT Total Return
• Potomac Dynamic VP HY Bond
• RVT CLS AdvisorOne Amerigo
• RVT CLS AdvisorOne Clermont
• Rydex VT Arktos
• Rydex VT Banking
• Rydex VT Basic Materials
• Rydex VT Biotechnology
• Rydex VT Commodities
• Rydex VT Consumer Products
• Rydex VT Electronics
• Rydex VT Energy
• Rydex VT Energy Services
• Rydex VT Financial Services
• Rydex VT Health Care
• Rydex VT Internet
• Rydex VT Inverse Dynamic Dow 30
• Rydex VT Inverse Mid Cap
• Rydex VT Inverse Small Cap
• Rydex VT Juno
• Rydex VT Large Cap Europe
• Rydex VT Large Cap Growth
• Rydex VT Large Cap Japan
• Rydex VT Large Cap Value
• Rydex VT Leisure
• Rydex VT Long Dynamic Dow 30
• Rydex VT Medius
• Rydex VT Mekros
• Rydex VT Mid Cap Growth
• Rydex VT Mid Cap Value
• Rydex VT Nova
• Rydex VT OTC
• Rydex VT Precious Metals
• Rydex VT Real Estate
• Rydex VT Retailing
• Rydex VT Sector Rotation
• Rydex VT Small Cap Growth
• Rydex VT Small Cap Value
• Rydex VT Strengthening Dollar
• Rydex VT Technology
• Rydex VT Telecommunications
• Rydex VT Titan 500
• Rydex VT Transportation
• Rydex VT U.S. Government Bond
• Rydex VT U.S. Government Money Market
• Rydex VT Ursa
• Rydex VT Utilities
• Rydex VT Velocity 100
• Rydex VT Weakening Dollar
• SBL Global
• SBL Small Cap Value
• Wells Fargo Advantage Opportunity VT

*The Franklin Small-Mid Cap Growth Securities (formerly Franklin Small Cap), Templeton Developing Markets Securities and Templeton Foreign Securities Subaccounts are no longer available effective May 1, 2004. As a result, you may no longer allocate Purchase Payments or transfer Contract Value to those Subaccounts. If you currently have Contract Value allocated to those Subaccounts, you may transfer it to another Subaccount(s) at any time; if you have in effect an Automatic Investment Program, the Dollar Cost Averaging Option, or the Asset Reallocation Option with an allocation to those Subaccounts, you may continue that program; provided that the program or option with an allocation to those Subaccounts was in effect prior to May 1, 2004.

**The Potomac VP Money Market Subaccount is no longer available effective November 15, 2005. As a result, you may no longer allocate Purchase Payments or transfer Contract Value to that Subaccount. If you currently have Contract Value allocated to that Subaccount, you may transfer it to another Subaccount at any time. If you have in effect an Automatic Investment Program, the Dollar Cost Averaging Option, or the Asset Reallocation Option with an allocation to that Subaccount, we will contact you for instructions regarding allocation to another subaccount in lieu of the Potomac VP Money Market Subaccount.

The table under "Transfers of Contract Value - Frequent Transfer Restrictions" is deleted in its entirety and replaced with the following:

Subaccount	Number of Round Trip Transfers*
Potomac VP Money Market and all Rydex Subaccounts, except the Rydex VT Sector Rotation	Unlimited
Potomac Dynamic VP HY Bond	8
Rydex VT Sector Rotation	6
AIM V.I. Capital Appreciation, Federated Fund for U.S. Government Securities II, PIMCO VIT Real Return, PIMCO VIT Total Return, RVT CLS AdvisorOne Amerigo, RVT CLS AdvisorOne Clermont, SBL Global, SBL Small Cap Value	4
Wells Fargo Advantage Opportunity VT	2
Federated High Income Bond II, Fidelity VIP Contrafund, Fidelity VIP Growth Opportunities, Fidelity VIP Index 500, Fidelity Investment Grade Bond, Neuberger Berman AMT Guardian, Neuberger Berman AMT Partners	1**
*Number of round trip transfers in any 12-month period that will trigger a letter requiring that you submit transfer requests in writing via regular U.S. mail for a 90-day period that begins on the date of the letter. Please note that you may not transfer your Contract Value to Franklin Small-Mid Cap Growth Securities, Templeton Developing Markets Securities and Templeton Foreign Securities Subaccounts, effective May  1, 2004, or to Potomac VP Money Market, effective November 15, 2005. **Number of round trips in any three-month period that will trigger a letter requiring that you submit transfer requests in writing via regular U.S. mail for a 90-day period that begins on the date of the letter.

The following paragraphs are added to the "Objectives for Underlying Funds - The Rydex Variable Trust" section of the Prospectus:

Rydex VT Commodities Fund. Rydex VT Commodities Fund is a series of the Rydex Variable Trust.

Investment Objective: To seek long-term capital appreciation through an investment in commodity-linked instruments.

Rydex VT Strengthening Dollar Fund. Rydex VT Strengthening Dollar Fund (the "Fund") is a series of the Rydex Variable Trust.

Investment Objective: To seek to provide investment results that will match the performance of a specific benchmark on a daily basis. The Fund's current benchmark is 200% of the performance of the U.S. Dollar Index (the "underlying index").

If the Fund meets its objectives, the value of the Fund's shares will tend to increase on a daily basis by 200% of the value of any increase in the underlying index (e.g., if the index goes up by 5%, the value of the Fund's shares should go up by 10% on that day). When the value of the underlying index declines, the value of the Fund's shares should decrease on a daily basis by 200% of the value of any decrease in the underlying index (e.g., if the underlying index goes down by 5%, the value of the Fund's shares should go down by 10% on that day).

Rydex VT Weakening Dollar Fund. Rydex VT Weakening Dollar Fund (the "Fund") is a series of the Rydex Variable Trust.

Investment Objective: To seek to provide investment results that will match the performance of a specific benchmark on a daily basis. The Fund's current benchmark is 200% of the inverse (opposite) performance of the U.S. Dollar Index (the "underlying index").

If the Fund meets its objectives, the value of the Fund's shares will tend to increase on a daily basis by 200% of the value of any decrease in the underlying index (e.g., if the index goes down by 5%, the value of the Fund's shares should go up by 10% on that day). When the value of the underlying index increases, the value of the Fund's shares should decrease on a daily basis by 200% of the value of any increase in the underlying index (e.g., if the underlying index goes up by 5%, the value of the Fund's shares should go down by 10% on that day).

Please Retain This Supplement For Future Reference