497 1 ilico-497e.txt PROSPECTUS SUPPLEMENT Dated June 19, 2007 Supplement to the Prospectus Dated June 30, 2003 Visionary Choice Flexible Premium Deferred Variable Annuity And Visionary Flexible Premium Deferred Variable Annuity Issued by Indianapolis Life Insurance Company through ILICO Separate Account 1 Effective June 1, 2007, the Alger American Small Capitalization variable account (the "Variable Account") will no longer be an available investment option under your Contract unless some or all of your contract value was allocated to the Variable Account as of the close of business on May 31, 2007. This means: o If you did not have contract value allocated to the Variable Account as of the close of business on May 31, 2007, then you may no longer allocate premium payments or transfer contract value to the Variable Account. o If you had contract value allocated to the Variable Account as of the close of business on May 31, 2007, then you may continue to allocate premium payments and/or transfer contract value to the Variable Account. However, please note that if you transfer or withdraw all of your contract value from the Variable Account, then in the future you will no longer be able to allocate premium payments or transfer contract value to the Variable Account. Please read this supplement and your prospectus carefully and keep them together for future reference.