Bond Fund (Second Prospectus Summary) | Bond Fund

BOND FUND(SM)

INVESTMENT OBJECTIVE

The fund's investment objective is to provide as high a level of current income
as is consistent with the preservation of capital.

FEES AND EXPENSES OF THE FUND

This table describes the fees and expenses that you may pay if you buy and
hold an interest in Class 2 shares of the fund. It does not reflect insurance
contract fees and expenses. If insurance contract fees and expenses were
reflected, expenses shown would be higher.

ANNUAL FUND OPERATING EXPENSES (EXPENSES THAT YOU PAY EACH YEAR AS A PERCENTAGE OF THE VALUE OF YOUR INVESTMENT)

Annual Fund Operating Expenses	Bond Fund Class 2
Management fee	0.36%
Distribution and/or service (12b-1) fees	0.25%
Other expenses	0.02%
Total annual fund operating expenses	0.63%

EXAMPLE

The example below is intended to help you compare the cost of investing in
Class 2 shares of the fund with the cost of investing in other mutual funds.
The example assumes that you invest $10,000 in the fund for the time periods
indicated and then redeem your shares at the end of the periods. The example
also assumes that your investment has a 5% return each year and that the fund's
operating expenses remain the same. The example does not reflect insurance
contract expenses. If insurance contract expenses were reflected, expenses
shown would be higher.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

Expense Example (USD $)	Expense Example, With Redemption, 1 Year	Expense Example, With Redemption, 3 Years	Expense Example, With Redemption, 5 Years	Expense Example, With Redemption, 10 Years
Bond Fund Class 2	64	202	351	786

PORTFOLIO TURNOVER

The fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate
may indicate higher transaction costs and may result in higher taxes when fund
shares are held in a taxable account. These costs, which are not reflected in
annual fund operating expenses or in the example, affect the fund's investment
results. During the most recent fiscal year, the fund's portfolio turnover rate
was 163% of the average value of its portfolio.

PRINCIPAL INVESTMENT STRATEGIES

The fund seeks to maximize your level of current income and preserve your
capital by investing primarily in bonds. Normally, the fund invests at least
80% of its assets in bonds and other debt securities. The fund invests at least
65% of its assets in investment-grade debt securities (rated Baa3 or better or
BBB- or better by Nationally Recognized Statistical Rating Organizations
designated by the fund's investment adviser, or NRSROs, or unrated but
determined to be of equivalent quality by the fund's investment adviser),
including cash and cash equivalents, securities issued and guaranteed by the
U.S. and other governments, and securities backed by mortgage and other assets.
The fund may invest up to 35% of its assets in debt securities rated Ba1 or
below and BB+ or below by NRSROs or unrated but determined by the fund's
investment adviser to be of equivalent quality. Such securities are sometimes
referred to as "junk bonds." The fund may invest in debt securities of issuers
domiciled outside the United States. The fund may also invest up to 20% of its
assets in preferred stocks, including convertible and nonconvertible preferred
stocks. In addition, the fund may invest, subject to the restrictions above, in
contracts for future delivery of mortgage-backed securities, such as to be
announced contracts and mortgage rolls. These contracts are normally of short
duration and are replaced by another contract prior to maturity. Each such
transaction is reflected as turnover in the fund's portfolio resulting in a
higher portfolio turnover rate than funds that do not employ this investment
strategy. The fund is designed for investors seeking income and more price
stability than stocks, and capital preservation over the long term.

The investment adviser uses a system of multiple portfolio counselors in
managing the fund's assets. Under this approach, the portfolio of the fund is
divided into segments managed by individual counselors who decide how their
respective segments will be invested.

The fund relies on the professional judgment of its investment adviser to make
decisions about the fund's portfolio investments. The basic investment
philosophy of the investment adviser is to seek to invest in attractively
priced securities that, in its opinion, represent good, long-term investment
opportunities. The investment adviser believes that an important way to
accomplish this is through fundamental research, which may include analysis of
credit quality, general economic conditions and various quantitative measures
and, in the case of corporate obligations, meeting with company executives and
employees, suppliers, customers and competitors. Securities may be sold when
the investment adviser believes that they no longer represent relatively
attractive investment opportunities.

PRINCIPAL RISKS

THIS SECTION DESCRIBES THE PRINCIPAL RISKS ASSOCIATED WITH THE FUND'S PRINCIPAL
INVESTMENT STRATEGIES.

YOU MAY LOSE MONEY BY INVESTING IN THE FUND. THE LIKELIHOOD OF LOSS MAY BE GREATER
IF YOU INVEST FOR A SHORTER PERIOD OF TIME.

MARKET CONDITIONS -- The prices of, and income generated by, the bonds
and other securities held by the fund may decline due to market conditions and
other factors, including those directly involving the issuers of securities
held by the fund.
  
INVESTING IN BONDS -- Rising interest rates will generally cause the prices of
bonds and other debt securities to fall. Longer maturity debt securities may be
subject to greater price fluctuations than shorter maturity debt securities. In
addition, falling interest rates may cause an issuer to redeem, call or
refinance a security before its stated maturity, which may result in the fund
having to reinvest the proceeds in lower yielding securities.
  
Bonds and other debt securities are subject to credit risk, which is the
possibility that the credit strength of an issuer will weaken and/or an issuer
of a debt security will fail to make timely payments of principal or interest
and the security will go into default.

INVESTING IN LOWER RATED BONDS -- Lower rated bonds and other lower rated
debt securities generally have higher rates of interest and involve greater
risk of default or price declines due to changes in the issuer's creditworthiness
than those of higher quality debt securities. The market prices of these securities
may fluctuate more than the prices of higher quality debt securities and may
decline significantly in periods of general economic difficulty. These risks
may be increased with respect to investments in junk bonds.

THINLY TRADED SECURITIES -- There may be little trading in the secondary
market for particular bonds or other debt securities, which may make them more
difficult to value, acquire or sell.
  
INVESTING IN MORTGAGE-RELATED SECURITIES -- Mortgage-related securities
are subject to prepayment risk, as well as the risks associated with investing in
debt securities in general. If interest rates fall and the loans underlying
these securities are prepaid faster than expected, the fund may have to
reinvest the prepaid principal in lower yielding securities, thus reducing the
fund's income. Conversely, if interest rates increase and the loans underlying
the securities are prepaid more slowly than expected, the expected duration of
the securities may be extended. This reduces the potential for the fund to
invest the principal in higher yielding securities.
  
INVESTING IN FUTURE DELIVERY CONTRACTS -- Contracts for future delivery
of mortgage-related securities, such as to be announced contracts and mortgage
dollar rolls, involve the fund selling mortgage-related securities and
simultaneously contracting to repurchase similar securities for delivery at a
future date at a predetermined price. This can increase the fund's market
exposure, and the market price of the securities the fund contracts to
repurchase could drop below their purchase price. While the fund can preserve
capital and generate gains through the use of such contracts by, for example,
realizing the difference between the sale price and the future purchase price,
the income generated by the fund may be reduced by engaging in such
transactions. In addition, these transactions may increase the turnover rate of
the fund.

INVESTING IN SECURITIES BACKED BY THE U.S. GOVERNMENT -- Securities backed
by the U.S. Treasury or the full faith and credit of the U.S. government are
guaranteed only as to the timely payment of interest and principal when held to
maturity. Accordingly, the current market values for these securities will
fluctuate with changes in interest rates. Securities issued by
government-sponsored entities and federal agencies and instrumentalities that
are not backed by the full faith and credit of the U.S. government are neither
issued nor guaranteed by the U.S. government.

INVESTING OUTSIDE THE UNITED STATES -- Securities of issuers domiciled
outside the United States, or with significant operations outside the United States,
may lose value because of political, social, economic or market developments or
instability in the countries or regions in which the issuer operates. These
securities may also lose value due to changes in foreign currency exchange
rates against the U.S. dollar and/or currencies of other countries. Securities
markets in certain countries may be more volatile and/or less liquid than those
in the United States. Investments outside the United States may also be subject
to different settlement and accounting practices and different regulatory,
legal and reporting standards, and may be more difficult to value, than those
in the United States.

MANAGEMENT -- The investment adviser to the fund actively manages the fund's
investments. Consequently, the fund is subject to the risk that the methods and
analyses employed by the investment adviser in this process may not produce the
desired results. This could cause the fund to lose value or its investment
results to lag relevant benchmarks or other funds with similar objectives.
  
Your investment in the fund is not a bank deposit and is not insured or
guaranteed by the Federal Deposit Insurance Corporation or any other government
agency, entity or person.

INVESTMENT RESULTS

The following information shows how the investment results of the Class 2
shares of the fund have varied from year to year and how the fund's average
annual total returns for various periods compare with different broad measures
of market performance. This information provides some indication of the risks
of investing in the fund. Lipper Intermediate Investment Grade Debt Funds
Average includes mutual funds that disclose investment objectives and/or
strategies reasonably comparable to those of the fund. Past results are not
predictive of future results. Figures shown reflect fees and expenses
associated with an investment in the fund, but do not reflect insurance
contract fees and expenses. If insurance contract fees and expenses were
included, results would have been lower.

The following information shows how the investment results of the Class 2
shares of the fund have varied from year to year and how the fund's average
annual total returns for various periods compare with different broad measures
of market performance.

Calendar year total returns.

The fund's highest/lowest quarterly results during this time period were:

HIGHEST   5.96% (quarter ended June 30, 2009)
LOWEST   -5.52% (quarter ended September 30, 2008)

For periods ended December 31, 2011: AVERAGE ANNUAL TOTAL RETURNS

Average Annual Total Returns Bond Fund	Average Annual Returns, Label	Average Annual Returns, 1 Year	Average Annual Returns, 5 Years	Average Annual Returns, 10 Years	Average Annual Returns, Since Inception	Average Annual Returns, Inception Date
Class 2	BOND FUND	6.10%	3.56%	4.85%	5.23%	Jan. 02, 1996	[1]
Barclays Capita U.S. Aggregate Index	Barclays Capital U.S. Aggregate Index (reflects no deduction for sales charges, account fees, expenses or taxes)	7.84%	6.50%	5.78%	6.16%	Jan. 02, 1996	[1]
Lipper Intermediate Investment Grade Debt Funds Average	Lipper Intermediate Investment Grade Debt Funds Average (reflects no deduction for sales charges, account fees or taxes)	6.22%	5.63%	5.18%	5.53%	Jan. 02, 1996	[1]

[1] Lifetime results are from January 2, 1996, the date the fund began investment operations. Class 2 shares were first offered on April 30, 1997; therefore, results for the fund prior to that date assume a hypothetical investment in Class 1 shares, reduced by the .25% annual expense that applies to Class 2 shares and is described in the "Plans of distribution" section of this prospectus. Results for Class 1 shares are comparable to those of Class 2 shares because both classes invest in the same portfolio of securities.