497 1 supplementslii.htm SUPPLEMENT -- HTML

SELECTHLIFE II

 

A FLEXIBLE PREMIUM VARIABLE UNIVERSAL LIFE INSURANCE POLICY

issued by

ReliaStar Life Insurance Company

and its

SelectHLife Variable Account

 

Supplement dated July 8, 2005, to the Prospectus dated April 29, 2005

 

This supplement amends certain information contained in the prospectus, as supplemented, dated April 29, 2005. Please read it carefully and keep it with your prospectus for future reference.

______________________________________________________________________

 

Information about the ING Van Kampen Comstock Portfolio appearing in the Fund Expense Table beginning on page 13 of the prospectus and the corresponding footnote are hereby deleted in their entirety and restated to reflect a 0.02% increase in "Fees and Expenses Waived or Reimbursed" and a corresponding reduction in the Portfolio's "Total Net Annual Fund Expenses."




Fund Name



Management Fees



Distribution (12b-1) Fees



Other Expenses

Total Gross Annual Fund Expenses

Fees and Expenses Waived or Reimbursed

Total Net Annual Fund Expenses

ING Van Kampen Comstock Portfolio (Initial Class) 17

0.60%

--

0.35%

0.95%

0.09%

0.86%

17

The Administrator of the Fund has contractually agreed to waive all or a portion of its administrative services fees and/or reimburse administrative expenses for ING American Century Small Cap Value, ING Baron Small Cap Growth, and ING Van Kampen Comstock Portfolios so that the Net Annual Fund Operating Expenses for these Portfolios shall not exceed 1.30%, 1.20%, and 0.86, respectively, through May 1, 2006. Without this waiver, the Net Annual Fund Operating Expenses would be 1.40% for ING American Century Small Cap Value, 1.25% for ING Baron Small Cap Growth and 0.95% for ING Van Kampen Comstock Portfolios.

The first paragraph of the "Additional Insured Rider" section on page 39 of the prospectus is hereby deleted in its entirety and replaced with the following:

 

Additional Insured Rider. The Additional Insured Rider provides ten-year, guaranteed level premium and level term coverage on the insured person or the insured person's spouse or children. You may apply for this rider when you apply for the base policy or anytime after your policy is issued. The minimum amount of coverage under this rider is $10,000.










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