# EDGAR Filing Document

**Accession Number:** 0000841056
**File Stem:** 0001164098-26-001353
**Filing Date:** 2026-5
**Character Count:** 389597
**Document Hash:** f3618715376d455d05b9da8df274eb86
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001164098-26-001353.hdr.sgml**: 20260506

**ACCESSION NUMBER**: 0001164098-26-001353

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260506

**DATE AS OF CHANGE**: 20260506

**EFFECTIVENESS DATE**: 20260506

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WRL SERIES ANNUITY ACCOUNT
- **CENTRAL INDEX KEY:** 0000841056

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-249119
- **FILM NUMBER:** 26947970

**BUSINESS ADDRESS:**
- **STREET 1:** 6400 C STREET SW
- **CITY:** CEDAR RAPIDS
- **STATE:** IA
- **ZIP:** 52499
- **BUSINESS PHONE:** 319-355-8366

**MAIL ADDRESS:**
- **STREET 1:** 6400 C STREET SW
- **CITY:** CEDAR RAPIDS
- **STATE:** IA
- **ZIP:** 52499

## Series and Classes Contracts Data

### WRL SERIES ANNUITY ACCOUNT (Series ID: S000006801)

---

|  |  |
|:---|:---|
| Class Name                   | Class ID   |
| New WRL Freedom Conqueror VA | C000223556 |

---

## Series and Classes Contracts Data

### WRL SERIES ANNUITY ACCOUNT (Series ID: S000006801)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000223556 | New WRL Freedom Conqueror VA |  |

**WRL FREEDOM CONQUEROR<sup>SM</sup>** 

**Issued by** 

**TRANSAMERICA LIFE INSURANCE COMPANY** 

**WRL Series Annuity Account** 

**Supplement Dated May 1, 2026**

**to the** 

**Prospectus dated May 1, 2026**

We will not accept any premium payment that is allocated to the fixed account or the dollar cost averaging fixed account in excess of $5,000. We also will not accept any premium payment or transfer which would result in the aggregate policy value in the fixed account and the dollar cost averaging fixed account exceeding $5,000.

**This Prospectus Supplement must be accompanied or preceded** 

**by the Prospectus for the** 

**WRL Freedom Conqueror<sup>®</sup> dated May 1, 2026**

------

**WRL FREEDOM CONQUEROR**<sup>SM</sup>

Issued Through <br>WRL SERIES ANNUITY ACCOUNT <br>By <br>TRANSAMERICA LIFE INSURANCE COMPANY

**Sales of this Policy were discontinued for new purchasers effective May 1, 2009.** 

This prospectus describes information You should know before You purchase a WRL Freedom Conqueror<sup>SM</sup> variable annuity. The prospectus describes a contract between each Owner and joint Owner ("You") and Transamerica Life Insurance Company ("us," "we," "our" or "Company"). This is an individual, deferred, flexible premium variable annuity. This variable annuity allows You to allocate Your premium payments among the <u>Fixed Account</u> (if available) and the Underlying Fund Portfolios.

This prospectus and the underlying fund prospectuses give You important information about the policies and the Underlying Fund Portfolios. Please read them carefully before You invest and keep them for future reference.

**The Securities and Exchange Commission has not approved or disapproved these securities, or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense.**

This variable annuity may not be suitable for everyone. The Policy is a complex investment vehicle and involves risk including potential loss of principal. The policy is not a short-term investment and is not appropriate for an investor who needs ready access to cash. Withdrawals could result in surrender charges, taxes, and tax penalties. Our financial obligations under the Policy are subject to our financial strength and claim-paying ability. This variable annuity may not be appropriate for people who do not have a long-term investment time horizon and is not appropriate for people who intend to engage in market timing or other frequent (disruptive) trading. You will get **no additional tax advantage** from this variable annuity if You are investing in a variable annuity through a tax-advantaged retirement plan (such as a 401(k) plan or Individual Retirement Account ("IRA")). This prospectus is not intended to provide tax, accounting or legal advice. We are relying on the exemption provided by Rule 12h-7 under the 1934 Act. In reliance on that exemption, we do not file periodic and current reports that we would be otherwise required to file pursuant to Section 15(d) of the 1934 Act.

We are not an investment adviser nor are we registered as such with the SEC or any state securities regulatory authority. We are not acting in any fiduciary capacity with respect to Your <u>Policy</u> nor are we acting in any capacity on behalf of any tax-advantaged retirement plan. This information does not constitute personalized investment advice or financial planning advice.

Additional information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission's staff and is available at Investor.gov.

Prospectus Date: May 1, 2026<br>

![](the485bfirstpagebar.jpg)

------

**TABLE OF CONTENTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **[GLOSSARY OF TERMS](#xx_659d8671-1770-4a6b-851f-a79336332745_1)___________________** | **1** |
| **[Overview of the policy](#xx_d97ca0c7-dae8-45f4-b610-2de1b246162f_1)______________** | **3** |
| **[important INFORMATION you should](#xx_e0be78d3-ffa2-4bfd-8d41-705102dba740_1)**<br> **[consider about the policy](#xx_e0be78d3-ffa2-4bfd-8d41-705102dba740_1)_________**<br>| **5** |
| **[ANNUITY POLICY FEE TABLE AND EXPENSE](#xx_28494715-993e-4e97-ae8b-da2b206fe23d_1)**<br> **[EXAMPLES](#xx_28494715-993e-4e97-ae8b-da2b206fe23d_1)_________________________**<br>| **9** |
| **[Principal Risks of Investing in the](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_1)**<br> **[Policy](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_1)____________________________**<br>| **11** |
| [Business Continuity](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_2)____________________ | 12 |
| **[Transamerica life insurance company,](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_2)**<br> **[The separate account, and](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_2)**<br> **[portfolio companies](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_2)______________**<br>| **12** |
| [Transamerica Life Insurance Company](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_2)_________ | 12 |
| [Financial Condition of the Company](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_2)__________ | 12 |
| [The Separate Account](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_3)___________________ | 13 |
| [The Underlying Funds](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_3)___________________ | 13 |
| [Other Transamerica Policies](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_3)_______________ | 13 |
| **[VOTING RIGHTS](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_4)______________________** | **14** |
| **[THE ANNUITY POLICY](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_4)__________________** | **14** |
| **[PURCHASE](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_4)___________________________** | **14** |
| [Policy Issue Requirements](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_4)_________________ | 14 |
| [Purchase Payments](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_5)_____________________ | 15 |
| [Initial Purchase Requirements](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_5)______________ | 15 |
| [Additional Purchase Payments](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_5)______________ | 15 |
| [Maximum Total Purchase Payments](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_5)___________ | 15 |
| [Allocation of Purchase Payments](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_5)_____________ | 15 |
| [Annuity Value](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_6)________________________ | 16 |
| [Accumulation Units](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_6)____________________ | 16 |
| **[INVESTMENT CHoices](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_6)_________________** | **16** |
| [Selection of Underlying Fund Portfolios](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_7)________ | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Addition, Deletion, or Substitution of Investment](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_7)<br> [Options](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_7)_________________________<br>| 17 |
| [The Fixed Account](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_8)_____________________ | 18 |
| [Transfers](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_8)___________________________  | 18 |
| [Market Timing and Disruptive Trading](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_9)_________ | 19 |
| [Third Party Investment Services](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_11)_____________ | 21 |
| **[EXPENSES](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_12)____________________________** | **22** |
| [Transaction Expenses](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_12)___________________ | 22 |
| [Withdrawal Charge](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_12)____________________ | 22 |
| [Premium Taxes](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_13)_______________________ | 23 |
| [Federal, State and Local Taxes](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_13)______________ | 23 |
| [Special Service Fees](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_13)_____________________ | 23 |
| [Transfer Charge](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_14)_______________________ | 24 |
| [Base Contract Expenses](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_14)__________________ | 24 |
| [Mortality and Expense Risk Fees](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_14)_____________ | 24 |
| [Administrative Charges](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_14)__________________ | 24 |
| [Annual Policy Charge](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_14)___________________ | 24 |
| [Loan Processing Fee](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_14)____________________ | 24 |
| [Underlying Fund Portfolio Fees and Expenses](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_14)_____ | 24 |
| [Reduced Fees and Charges](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_14)________________ | 24 |
| [Revenue We Receive](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_15)____________________ | 25 |

---

---

| | |
|:---|:---|
| **[general description of the policy](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_16)___** | **26** |
| [Ownership](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_16)__________________________  | 26 |
| [Annuitant](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_16)__________________________  | 26 |
| [Beneficiary](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_17)__________________________  | 27 |
| [Assignment](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_17)_________________________  | 27 |
| [Termination for Low Value](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_17)________________ | 27 |
| [Certain Offers](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_17)________________________ | 27 |
| [Exchanges and/or Reinstatements](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_17)____________ | 27 |
| **[ACCESS TO YOUR MONEY](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_18)_______________** | **28** |
| [Withdrawals and Surrenders](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_18)_______________ | 28 |
| [Delay of Payment and Transfer](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_19)______________ | 29 |
| [Systematic Withdrawals](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_19)__________________ | 29 |
| [Signature Guarantee](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_19)____________________ | 29 |
| **[ANNUITY PAYMENTS (THE INCOME PHASE)](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_20)_** | **30** |
| [Annuity Payment Options Under the Policy](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_20)______ | 30 |
| [Fixed Annuity Payment Options](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_21)_____________ | 31 |
| [Variable Annuity Payment Options](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_21)___________ | 31 |
| **[Benefits Available Under the Policy](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_22)__** | **32** |
| **[DEATH BENEFIT](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_24)_______________________** | **34** |
| [Payments on Death](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_24)____________________ | 34 |
| [Amount of Death Benefit Before the Maturity Date](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_26)_ | 36 |
| [Guaranteed Minimum Death Benefit Features](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_26)____ | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Alternate Payment Elections Before the Maturity](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_27)<br> [Date](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_27)____________________________<br>| 37 |
| **[Optional Benefit Riders](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_27)_____________** | **37** |
| **[guaranteed minimum income benefit](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_27)**<br> **[rider (No longer available)](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_27)________**<br>| **37** |
| **[ADDITIONAL EARNINGS RIDER (NO LONGER](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_31)**<br> **[AVAILABLE)](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_31)_________________________**<br>| **41** |
| **[ADDITIONAL FEATURES](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_33)________________** | **43** |
| [Dollar Cost Averaging Program](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_33)_____________ | 43 |
| [Asset Rebalancing](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_33)_____________________ | 43 |
| [Telephone, Fax and Internet Transactions](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_34)_______ | 44 |
| **[Loans](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_34)______________________________** | **44** |
| [Policy Loans for Certain Qualified Policies](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_34)_______ | 44 |
| **[TAX INFORMATION](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_36)____________________** | **46** |
| **[OTHER INFORMATION](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_45)_________________** | **55** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Sending Forms and Transaction Requests in Good](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_45)<br> [Order](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_45)___________________________<br>| 55 |
| [Regulatory Modifications to Policy](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_45)___________ | 55 |
| [Anti-Money Laundering (AML) and Sanctions](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_45)____ | 55 |
| [Mixed and Shared Funding](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_45)________________ | 55 |
| [Abandoned or Unclaimed Property](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_46)___________ | 56 |
| [Legal Proceedings](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_46)______________________ | 56 |
| [Distribution of the Policies](#xx_6ee2c442-87c8-4f53-9ada-ccea2114fa95_46)________________ | 56 |
| ***[APPENDIX A](#xx_8a263297-2788-4b7c-9657-1c78f8dc0613_1)***  |  |
| **[investment options](#xx_8a263297-2788-4b7c-9657-1c78f8dc0613_1)[AVAILABLE](#xx_8a263297-2788-4b7c-9657-1c78f8dc0613_1)**<br> **[UNDER THE POLICY](#xx_8a263297-2788-4b7c-9657-1c78f8dc0613_1)______________**<br>| **59** |
| ***[Appendix B](#xx_64d04372-71a1-46f6-8e5b-b7d889c6aa8a_1)_______________________***  | **65** |

---

ii

------

****TABLE OF CONTENTS** continued**

---

| | |
|:---|:---|
| ***[APPENDIX C](#xx_e5e71ced-4c3d-4385-8a06-c9d576fc90bc_1)*** |  |
| **[ADDITIONAL EARNINGS RIDER -](#xx_e5e71ced-4c3d-4385-8a06-c9d576fc90bc_1)**<br> **[Hypothetical examples](#xx_e5e71ced-4c3d-4385-8a06-c9d576fc90bc_1)_________**<br>| **68** |
| ***[APPENDIX D](#financintermedi)*** |  |
| [**FINANCIAL INTERMEDIARY VARIABLES**](#financintermedi)___ | **69** |

---

iii

------

**GLOSSARY OF TERMS**

**Accumulation Period-** The period between the <u>Policy Date</u> and the <u>Maturity Date</u> while the Policy is <u>In Force</u>.

**Accumulation Unit Value-** An accounting unit of measure we use to calculate <u>Subaccount</u> values during the <u>Accumulation Period</u>.

**Administrative Office-** Transamerica Life Insurance Company, Attention: Customer Care Group, 6400 C Street SW, Cedar Rapids, IA 52499, (800)851-9777. **Please send all Purchase Payments, loan repayments, correspondence and notices to the Administrative Office.**

**Age** - The issue Age, which is <u>Annuitant's</u> Age on the birthday nearest the Policy Date, plus the number of completed Policy years. When we use the term "Age" in this prospectus, it has the same meaning as "attained Age" in the Policy.

**Annuitant-** The person on whose life any annuity payments involving life contingencies will be based.

**Annuitize (Annuitization)-** When <u>You</u> switch from the Accumulation Period to the income phase and we begin to make annuity payments to You (or Your designee).

**Annuity Unit Value-** An accounting unit of measure we use to calculate annuity payments from the Subaccounts after the Maturity Date.

**Annuity Value-** The sum of the <u>Separate Account Value</u> and the <u>Fixed Account Value</u> at the end of any <u>Valuation Period</u>.

**Beneficiary(ies)-** The person(s) who has the right to the death benefit as set forth in the Policy.

**Cash Value-** The <u>Annuity Value</u> less any applicable less any premium taxes, any withdrawal charge, any loans and unpaid accrued interest, the annual Policy charge and any rider charges.

**Code or Internal Revenue Code - The Internal Revenue Code of 1986, as amended.**

**Death Report Day-** The Valuation Date on which we have received due proof of death.

**Fixed Account-** One or more <u>Investment Options</u> under the Policy that are part of our general assets and are not in the <u>Separate Account</u>.

**Fixed Account Value-** During the Accumulation Period, Your Policy's value in the Fixed Account.

**In Force-** Condition under which the Policy is active and an <u>Owner</u> is entitled to exercise all rights under the Policy.

**Investment Option(s)** - The <u>Subaccounts</u> and the <u>Fixed Account</u>.

**Maturity Date-** The date on which the Accumulation Period ends and annuity payments begin.

**Monthiversary-** The same day in the month as the Policy Date. When there is no date in a calendar month that coincides with the Policy Date, the Monthiversary is the first day of the next month.

**NYSE** - New York Stock Exchange.

**Owner (You, Your)-** The person(s) entitled to exercise all rights and privileges under the Policy. The Annuitant is an Owner unless the application states otherwise, or unless a change of ownership is made at a later time.

**Policy-** The WRL Freedom Conqueror<sup>SM</sup>, an individual deferred, flexible premium variable annuity. Also referred to as the contract.

**Policy Anniversary-** The same day in each succeeding year as the Policy Date. If there is no day in a calendar year which coincides with the Policy Date, the Policy Anniversary will be the first day of the next month.

**Policy Date-** The date shown on the contract schedule attached to the Policy and the date on which the Policy becomes effective.

**Purchase Payments-** Amounts paid by an <u>Owner</u> or on an Owner's behalf to Transamerica Life Insurance Company as consideration for the benefits provided by the Policy. When we use the term "Purchase Payment" or "premium" in this prospectus, it has the same meaning as "net payment" in the Policy, which means the Purchase Payment less any applicable premium taxes.

**Portfolio Company(ies)-** The investment company(ies) made available as Investment Options under the Policy. Also referred to as underlying fund portfolios.

**Required Beginning Date-** April 1 of the calendar year next following the year in which the Owner reaches the applicable age as per Code section 401(a)(9)(C). If distributions hereunder commence prior to such date under an annuity option that provides for distributions that are made in accordance with Regulation Section 1.401(a)(9)-6(a)(3), then the Annuity Start Date shall be treated as the Required Beginning Date in accordance with Regulation Section 1.401(a)(9)-6(k).

------

**Separate Account-** WRL Series Annuity Account, a Separate Account established and registered as a unit investment trust under the Investment Company Act of 1940, as amended (the "1940 Act"), to which Purchase Payments under the policies may be allocated.

**Separate Account Value-** The portion of the Policy value that is invested in the Separate Account.

**Subaccount-** A subdivision within the Separate Account, the assets of which are invested in a specified <u>Underlying Fund Portfolio</u>.

**Successor Owner-** The person who becomes the new Owner if the Owner is not the Annuitant and dies before the Annuitant.

**Surrender-** The termination of a Policy at the option of an Owner.

**Underlying Fund Portfolio-** Investment companies which are registered with the U.S. Securities and Exchange Commission. The Policy allows You to invest in the Underlying Fund Portfolios through our Subaccounts. We reserve the right to add other Underlying Fund Portfolios as investment choices under the Policy in the future.

**Valuation Date- E**ach day on which the <u>NYSE</u> is open for trading, except when a Subaccount's corresponding portfolio does not value its shares. Transamerica Life Insurance Company is open for business on each day that the NYSE is open. When we use the term "business day," it has the same meaning as Valuation Date.

**Valuation Period-** The period of time from one determination of <u>Accumulation Unit Values</u> and <u>Annuity Unit Values</u> to the next subsequent determination of those values. Such determination shall be made generally at the close of business on each business day.

------

**Overview of the policy** 

**Purpose** 

The WRL Freedom Conqueror<sup>SM</sup> is a variable annuity Policy. <u>[You](#owneryouyour)</u> can use the Policy to accumulate assets for retirement or other long-term financial planning purposes. The amount of money You are able to accumulate in Your Policy depends upon the performance of Your <u>[Investment Options](#investoptions)</u>. The Policy also offers a death benefit to protect Your designated <u>[Beneficiaries](#bene)</u>.

This Policy may be appropriate for people who do not have a long-term investment time horizon and is not appropriate for people who intend to engage in market timing or other frequent (disruptive) trading.

**Who the Policy is Appropriate For** 

The <u>Policy</u> is designed for investors who intend to accumulate assets for retirement or other long-term financial planning best suited for those with a long-term investment horizon. Although You have the ability to make partial withdrawals and/or <u>[Surrender](#surrender)</u> the Policy at any time during the accumulation phase, the Policy should not be viewed as a highly liquid investment. In that regard, withdrawals taken in the near term can result in Your being assessed a surrender charge, which can be a significant amount. In addition, if You participate in certain optional benefits, withdrawals can markedly reduce the benefit's value. Finally, failure to hold the Policy for the long-term would mean that You lose the opportunity for the performance of Your chosen Investment Options to grow on a tax-deferred basis. Thus, the Policy's features are appropriate for an investor who does not have significant liquidity needs with respect to money dedicated to the Policy, has a long-term investment horizon, and has purchased the Policy for retirement purposes or other long-term financial planning purposes.

**Phases of the Policy** 

The Policy has two phases: (1) an accumulation (or savings) phase and (2) and annuity (or income) phase.

***Accumulation Phase***. To help You accumulate assets during the accumulation phase, You can invest Your <u>Purchase Payments</u> and Policy value in:

● Underlying Fund Portfolios available under the Policy, each of which has its own investment strategies and risks; investment adviser(s); expense ratio; and performance history; and

● The Fixed Account option, which offers a guaranteed interest rate during a selected period.

A list of funds in which You can invest is provided in an Appendix to this Prospectus. *See* <u>Appendix</u> <u>–</u> <u>Investment Options Available Under the Policy</u>.

***Annuity Phase***. You can elect to [Annuitize](#annuitize) Your Policy and turn Your Policy value into a stream of income payments called annuity payments. When <u>You</u> Annuitize Your Policy, the accumulation phase ends, and You will no longer be able to withdraw money from Your Policy. Any guaranteed benefits You elected will terminate without value. You may elect to purchase the Guaranteed Minimum Income Benefit rider for an additional fee that guarantees a "minimum Annuitization value".

You can choose from among several fixed and variable Annuity Payment Options, including those guaranteeing payments for life and/or for a fixed time period. If You choose income for a specified period, life income with 10 years certain, life income with guaranteed return of Annuity proceeds, or income of a specified amount, and the person receiving annuity payments dies prior to the end of the guaranteed period, then the remaining guaranteed annuity payments will be continued to Your Beneficiary, or their present value may be paid in a single sum.

**Primary Features and Options of the Policy** 

***Type of Policy***. WRL Freedom Conqueror<sup>SM</sup> Policy is a flexible premium deferred variable annuity Policy. It is a "deferred" annuity because You defer taking annuity payments during the accumulation phase. It is a "flexible premium" annuity because You are generally not required to make any Purchase Payments in addition to the initial minimum Purchase Payment. The Policy is "variable" because its value can go up or down based on the performance of the Investment Options You choose. The Policy is available as a non-qualified or qualified Policy. The tax treatment of Your Policy may impact the benefits, as well as fees and charges under Your Policy.

***Accessing Your Money***. Before You <u>Annuitize</u>, You can withdraw money from Your Policy at any time. If You take a withdrawal, You may be subject to a negative Excess Interest Adjustment and/or have to pay a surrender charge and/or income taxes, including a tax penalty if You are younger than <u>[Age](#age)</u> 59½.

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***Tax Treatment***. You can transfer money between <u>Investment Options</u> without tax implications, and earnings (if any) on Your investments are generally tax-deferred. You are taxed only upon: (1) making a withdrawal; (2) receiving a payment from us; or (3) payment of a death benefit; (4) or as required under the [Internal Revenue Code](#code) for certain transactions.

***Death Benefits***. The Policy includes, at no additional cost, a default death benefit that will pay <u>Your</u> designated Beneficiaries based on spousal continuation, <u>Beneficiary</u> death or if You have multiple Beneficiaries.

***Optional Guaranteed Minimum Income Benefit Rider***. For an additional fee, You will be assured a minimum level of income in the future by guaranteeing a "minimum Annuitization value". If You selected this rider You are guaranteed a future minimum level of income under the rider's fixed or variable payment options based on the minimum Annuitization value, regardless of the performance of the underlying investment portfolios.

***Optional Additional Earnings Rider***. For an additional fee, this rider may pay an additional earnings rider amount when the Owner who is the <u>[Annuitant](#annuitant)</u> dies and death benefit proceeds are paid under Your Policy.

***Additional Services.*** At no additional charge, You may select the following additional services:

● ***Dollar-Cost Averaging.*** This service allows You to automatically transfer amounts between certain Investment Options on a monthly basis.

● ***Asset Rebalancing.*** This service automatically reallocates Your Policy value among Your Investment Options on a periodic basis to maintain Your standing allocation instructions.

● ***Systematic Withdrawals.*** This service allows You to receive regular automatic withdrawals from Your Policy either on a monthly, quarterly, semi-annual and annual basis.

● ***Telephone and Electronic Transactions.*** This service allows You to make certain transactions by telephone or other electronic means with the appropriate authorization from You.

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**important INFORMATION you should consider about the policy** 

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| | | |
|:---|:---|:---|
|  | **FEES AND EXPENSES** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Are There Charges for** <br> **Early Withdrawal?**<br>| &nbsp;&nbsp; **Yes.** If You withdraw money during a specified number of years following <br> each <u>[Purchase Payment](#purchpay)</u> being withdrawn, <u>You</u> may be assessed a <br> withdrawal charge. The withdrawal charge is assessed for 7 years with a <br> maximum of 8%. There are no withdrawal charges for any particular <br> premium payment after more than 7 years.For example, if You make an <br> early withdrawal, You could pay a withdrawal charge on a $100,000 <br> investment of up to $8,000. | &nbsp;&nbsp; <br>[Annuity Policy Fee Tables and Expense Examples](#annuitypolicyfeetable) <br>[Transaction Expenses – Withdrawal Charge](#transacexp) <br>[Access to Your Money Withdrawals and Surrenders](#accesstomoney)<br>|
| **Are There Transaction** <br> **Charges?**<br>| &nbsp;&nbsp; **Yes.** In addition to withdrawal charges, You also may be assessed a transfer <br> fee and special services fee.<br> *Transfer Fee*. We reserve the right to charge for transfers among <u>Investment</u> <br> <u>Options</u> after the first 12 transfers per <u>[Policy](#policy)</u> year. For each such <br> additional transfer, we may impose a transfer fee of $10. Currently, we do <br> not charge a transfer fee, but reserve the right to do so.<br> *Special Service Fee*. We reserve the right to deduct a $25 charge for special <br> services, including overnight delivery, duplicate policies, handling <br> insufficient checks on new business, duplicate Form 1099 and Form 5498 <br> tax forms, check copies, printing and mailing previously submitted forms, <br> and asset verification requests from mortgage companies. | &nbsp;&nbsp; <br>[Annuity Policy Fee Tables and Expense Examples](#annuitypolicyfeetable) <br>[Expenses – Transaction Expenses](#transacexp)<br>|

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**FEES AND EXPENSES** **Location in** **Prospectus** 

**RISKS** **Location in** **Prospectus** 

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**RISKS** **Location in** **Prospectus** 

**RESTRICTIONS** **Location in** **Prospectus** 

**TAXES** **Location in** **Prospectus** 

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| | | |
|:---|:---|:---|
|  | **CONFLICT OF INTEREST** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **How Are Investment** <br> **Professional** <br> **Compensated?**<br>| &nbsp;&nbsp; Your investment professional may receive compensation for selling this <br> Policy to You, in the form of commissions, additional cash benefits (e.g., <br> bonuses), and non-cash compensation. Our affiliate, Transamerica <br> Capital, LLC. ("TCL") is the principal underwriter and may share the <br> revenue we earn on this Policy with Your investment professional's firm. In <br> addition, we may pay all or a portion of the cost of affiliates' operating <br> and other expenses. This conflict of interest may influence Your <br> investment professional to recommend this Policy over another investment <br> for which the investment professional is not compensated or compensated <br> less. | &nbsp;&nbsp; <br>[**Distribution of the Policies**](#distroofpolicy)<br>|
| **Should I Exchange My** <br> **Policy?**<br>| &nbsp;&nbsp; If You already own an insurance Policy, some investment professionals <br> may have a financial incentive to offer You a new Policy in place of the <br> one You own. You should only exchange a Policy You already own if You <br> determine, after comparing the features, fees, and risks of both policies, <br> that it is better for You to purchase the new Policy rather than continue to <br> own Your existing Policy. | &nbsp;&nbsp; <br>[**Exchanges and/or Reinstatements**](#xchangesreinstates)<br>|

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**ANNUITY POLICY FEE TABLE AND EXPENSE EXAMPLES** 

The following table describes the fees and expenses that You will pay when buying, owning, and surrendering or making withdrawals from the Policy. **Please refer to Your Policy specification page for information about the specific fees You will pay each year based on the options You have elected.** 

The first table describes the fees and expenses that You will pay at the time that You buy the Policy, surrender or make withdrawals from the Policy, or transfer <u>[Cash Value](#cashval)</u> between Investment Options. State premium taxes may also apply.

**Transaction Expenses:** 

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| | |
|:---|:---|
| Sales Load Imposed On Purchase Payments |  |
| Maximum Withdrawal Charge (as a % of Purchase Payments)<sup>(1)(2)(3)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8% |
| Transfer Charge<sup>(4)</sup> <br>| $10 after 12 per year |
| Loan Processing Fee<sup>(5)</sup> <br>| $30 per loan |
| Special Service Fee | $25 |

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<sup>(1)</sup> We may deduct a charge for special services, including overnight delivery, duplicate policies; non sufficient checks on new business; duplicate 1099 and 5498 tax forms; duplicate disclosure documents and semi-annual reports; check copies; printing and mailing previously submitted forms; and asset verification requests from mortgage companies. In addition, we may consider as special services customer initiated changes, modifications and transactions which are submitted in such a manner as to require the Company to incur additional processing costs.

<sup>(2)</sup> The withdrawal charge decreases based on the number of years since each Purchase Payment was made, from 8% in the year in which the Purchase Payment was made to 0% in eighth year after the Purchase Payment was made. To calculate withdrawal charges, the first Purchase Payment made is considered to come out first. This charge is waived under certain circumstances.

<sup>(3)</sup> We may reduce or waive the withdrawal charge and the Annual Policy Charge for policies sold to groups of employees with the same employer, including our directors, officers and full-time employees, or other groups where sales to the group reduce our administrative expenses.

<sup>(4)</sup> There are no charges for transfers from the Fixed Account, however, they will be counted toward the 12 free transfers allowed per Policy year. We do not currently charge for Internet transfers, although we reserve the right to do so in the future.

<sup>(5)</sup> Loans are available only for certain qualified policies and You will pay interest on the loan at a rate of 6% per year. The loan processing fee is not applicable in all states.

**Annual Contract Expenses:** 

The next table describes the fees and expenses that <u>You</u> will pay *each year* during the time that You own the <u>Policy</u>, not including portfolio fees and expenses. This table also includes the charges You would pay if You added optional riders to Your Policy.

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| | |
|:---|:---|
| **Annual Policy Charge**<sup>(1)</sup> | $35 per Policy yearly |
| **Base Contract Expenses** (as a % of average Separate Account Value during the Accumulation Period)<sup>(2)</sup> <br>| &nbsp;&nbsp; 1.40% |
| **Optional Benefit Riders (No Longer Available)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Guaranteed Minimum Income Benefit Rider<sup>(3)</sup> <br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; Current | &nbsp;&nbsp; 0.45% |
| &nbsp;&nbsp;&nbsp;&nbsp; Maximum | &nbsp;&nbsp; 0.50% |
| &nbsp;&nbsp;&nbsp;&nbsp; Additional Earnings Rider<sup>(4)</sup> <br>| &nbsp;&nbsp; 0.35% |

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<sup>(1)</sup> We may reduce or waive the withdrawal charge and the Annual Policy Charge for policies sold to groups of employees with the same employer, including our directors, officers and full-time employees, or other groups where sales to the group reduce our administrative expenses.

<sup>(2)</sup> These charges apply to each Subaccount. They do not apply to the <u>Fixed Account</u>. These charge applies during the Accumulation Period; they also apply during the income phase if You elect variable annuity income payments.

<sup>(3)</sup> This rider is no longer available. The annual rider charge is a percentage of the minimum Annuitization value. If You choose to upgrade the rider, the charge for the rider after the upgrade is currently 0.45%, but, we reserve the right to increase the rider charge after upgrade to 0.50%. Once the rider is issued, the rider charge will not change. Keep in mind that the current rider charge (0.45%) may be higher if You upgrade the rider at a later date because we may increase the rider charge after upgrade up to the maximum (0.50%). We deduct the rider charge from the Fixed Account and from each Subaccount in proportion to the amount of the Annuity

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Value in each account. If the <u>Annuity Value</u> on any rider anniversary exceeds the rider charge threshold (guaranteed 2.0) times the minimum Annuitization value, we will waive the rider charge otherwise payable on that rider anniversary. If You later choose to <u>Annuitize</u> under a variable annuity payment option of this rider, we will impose a guaranteed minimum payment fee equal to an annual rate of 1.10% of the daily net asset values in the Subaccounts. This charge is assessed in addition to the mortality and expense risk charge of 1.40% annually that is set on the date You Annuitize under the rider. We may change the guaranteed minimum payment fee in the future if You choose to upgrade the minimum Annuitization value, or for future issues of the rider, but it will never be greater than 2.10%. See Optional Benefit Riders.

<sup>(4)</sup> **This rider is no longer available.** The annual rider charge is a percentage of Your Policy's Annuity Value. The charge will not increase once the rider has been issued. We deduct the rider charge from the Fixed Account and from each Subaccount in proportion to the amount of the Annuity Value in each account. We do not assess this charge during the income phase. *See* <u>Optional Benefit Riders</u> 

**Annual Portfolio Company Expenses:** 

The next section shows the minimum and maximum total operating expenses charged by the <u>Portfolio Companies</u> that You may pay periodically during the time You own the Policy. A complete list of the Portfolios available under the Policy, including their annual expenses may be found under <u>Appendix</u> <u>–</u> <u>Investment Options Available Under the Policy</u>.

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| | | |
|:---|:---|:---|
| **Annual Portfolio Company Expenses** | &nbsp;&nbsp; Minimum | &nbsp;&nbsp; Maximum |
| &nbsp;&nbsp;&nbsp; Expenses that are deducted from Portfolio Company assets, including <br> management fees, distribution and/or service 12b-1 fees, and other <br> expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.29% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.86% |
| &nbsp;&nbsp;&nbsp; Expenses that are deducted from Portfolio Company assets, including <br> management fees, 12b-1 fees, and other expenses, after any waivers or <br> expense reimbursement<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.29% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.68% |

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**Example**<sup>(1)</sup>

The following Examples are intended to help You compare the cost of investing in the <u>Policy</u> with the cost of investing in other variable annuity policies. These costs include <u>Owner</u> transaction expenses, annual Policy expenses, and annual Portfolio Company operating expenses.

The Examples assume that <u>You</u> invest $100,000 in the Policy for the time periods indicated. The Examples also assume that Your Policy has a 5% return each year and assumes the most expensive combination of annual Portfolio Company expenses and optional benefits available for an additional charge. This includes the maximum annual Portfolio Company expenses and the Guaranteed Minimum Income Benefit rider. Although Your actual costs may be higher or lower, based on these assumptions, Your costs would be:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Example**<sup>(1)</sup> <br>| **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| If You Surrender the Policy at the end of the applicable time period. | &nbsp;&nbsp; $12814 | &nbsp;&nbsp; $20.556 | &nbsp;&nbsp; $28452 | &nbsp;&nbsp; $49900 |
| &nbsp;&nbsp;&nbsp; If You Annuitize\* or remain invested in the Policy at the end of the applicable time <br> period.<br>| &nbsp;&nbsp; $4814 | &nbsp;&nbsp; $14556 | &nbsp;&nbsp; $24452 | &nbsp;&nbsp; $49900 |

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\*You cannot Annuitize Your Policy before Your Policy's fifth anniversary.

<sup>(1)</sup> Please remember that these Examples are illustrations and do not represent past or future expenses. Your actual expenses may be lower or higher than those reflected in the Examples. Similarly, Your rate of return may be more or less than the 5% assumed in the Examples. <u>Expense Examples</u>: The Example does not reflect premium tax charges, special service fees, or transfer fees. Different fees and expenses not reflected in the Example may be assessed during the income phase of the Policy.

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**Principal Risks of Investing in the Policy** 

**There are risks associated with investing in the Policy.** You can lose money in a variable annuity, including potential loss of Your original investment. The value of Your investment and any returns will depend primarily on the performance of the Underlying Fund Portfolios You select. Each <u>[Underlying Fund Portfolio](#underlyingfundport)</u> may have its own unique risks. We reserve the right to remove or substitute underlying funds, to impose investment restrictions and to limit additional purchase payments or transfers between investment options.

Variable annuities are not a short-term investment vehicle. The surrender charge applies for a number of years, so that the <u>Policy</u> should only be purchased for the long-term. Under some circumstances, You may receive less than the sum of Your premium payments. In addition, full or partial withdrawals will be subject to income tax and may be subject to a 10% Internal Revenue Service ("IRS") penalty if taken before <u>Age</u> 59½. Accordingly, You should carefully consider Your income and liquidity needs before purchasing a Policy. Additional information about these risks appears in the Tax Information section of this prospectus.

**Risks Of An Increase In Current Fees And Expenses.** Certain fees and expenses are currently assessed at less than their guaranteed maximum levels. In the future, these charges may be increased up to the guaranteed (maximum) levels.

**Investment Risk.** You bear the risk of any decline in the Policy value caused by the performance of the Underlying Fund Portfolios held by the <u>[Subaccounts](#subacc)</u>. Those funds could decline in value very significantly, and there is a risk of loss of Your entire amount invested. The risk of loss varies with each underlying fund. This risk could have a significant negative impact on the value of certain optional benefits offered under the Policy. The investment risks are described in the prospectuses for the underlying funds.

**Investment Restrictions – Opportunity Risks.** Generally, the living benefit riders offered under the Policy restrict Your choice of available Underlying Fund Portfolios. These restrictions are intended to protect us financially, in that they reduce the likelihood that we will have to pay guaranteed benefits under the riders from our own assets. These restrictions could result in an opportunity cost – in the form of Underlying Fund Portfolios that You did not invest in that ultimately generated superior investment performance. Thus, You should consider these Underlying Fund Portfolio restrictions when deciding whether to elect an optional benefit that features such restrictions.

**Risk Associated With Election of Optional Benefits.** Several of the optional benefits include a host of requirements that must be adhered to in order to preserve and maximize the guarantees we offer under the benefit. If You fail to adhere to these requirements, that may diminish the value of the benefit and even possibly cause termination of the benefit. In addition, it is possible that You will pay fees for the optional benefit without fully realizing the guarantees available under the optional benefit. For example, such would be the case if You were to hold a <u>Guaranteed Lifetime Withdrawal Benefit</u> for many years yet die sooner than anticipated, without having taken a significant number of lifetime withdrawals.

**Risks of Managing General Account Assets. T**he general account assets of The Company are used to support the payment of guaranteed benefits under the Policy. To the extent that the Company is required to pay amounts in addition to the Policy value, such amounts will come from our general account assets. You should be aware that the general account assets are exposed to the risks normally associated with a portfolio of fixed-income securities, including interest rate, option, liquidity and credit risk, and are also subject to the claims of the Company's general creditors. The Company's financial statements contained in the Statement of Additional Information include a further discussion of risks inherent in the general account investments.

**Insurance Company Insolvency**. It is possible that we could experience financial difficulty in the future and even become insolvent, and therefore unable to provide all of the guarantees and benefits that exceed the assets in the <u>[Separate Account](#sepacc)</u> that we promise.

**Tax Consequences.** Withdrawals are generally taxable to the extent of any earnings in the Policy, and prior to Age 59½ a tax penalty may apply. In addition, even if the Policy is held for years before any withdrawal is made, withdrawals are taxable as ordinary income rather than capital gains.

**Cybersecurity and Certain Business Continuity Risks** 

Our operations support complex transactions and are highly dependent on the proper functioning of information technology and communication systems. Any failure of or gap in the systems and processes necessary to support complex transactions and avoid systems failure, fraud, information security failures, processing errors, cyber intrusion, loss of data and breaches of regulation may lead to a materially adverse effect on our results of operations and corporate reputation. In addition, we must commit significant resources to maintain and enhance its existing systems in order to keep pace with applicable regulatory requirements, industry standards and customer preferences. If we fail to maintain secure and well-functioning information systems, we may not be able to rely on information for product pricing, compliance obligations, risk management and underwriting decisions. In addition, we cannot assure

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investors or consumers that interruptions, failures or breaches in security of these processes and systems will not occur, or if they do occur, that they can be timely detected and remediated. The occurrence of any of these events may have a materially adverse effect on our businesses, results of operations and financial condition.

For additional detail regarding cybersecurity and related risks, please reference the Cyber Security section in the Statement of Additional Information.

**Business Continuity** 

Our business operations may be adversely affected by volatile natural and man-made disasters, including (but not limited to) hurricanes, earthquakes, terrorism, civil unrest, geopolitical disputes, military action, fires and explosions, pandemic diseases, and other catastrophes ("Catastrophic Events"). Over the past several years, changing weather patterns and climatic conditions have added to the unpredictability and frequency of natural disasters in certain parts of the world. To date, the COVID-19 pandemic has caused significant uncertainty and disruption to governments, business operations, and consumer behavior on a global scale. Such uncertainty as to future trends and exposure may lead to financial losses to our businesses. Furthermore, Catastrophic Events may disrupt our operations and result in the loss of, or restricted access to, property and information about Transamerica and its clients. Such events may also impact the availability and capacity of our key personnel. If our business continuity plans do not include effective contingencies for Catastrophic Events, we may experience business disruption, damage to corporate reputation, and damage to financial condition for a prolonged period of time.

**Transamerica life insurance company, The separate account, and portfolio companies**

**Transamerica Life Insurance Company** 

Transamerica Life Insurance Company, located at 6400 C Street SW, Cedar Rapids, Iowa 52499, is the insurance company issuing the Policy.

We are engaged in the sale of life insurance and annuity policies. Transamerica Life Insurance Company was incorporated under the laws of the State of Iowa on April 19, 1961 as NN Investors Life Insurance Company, Inc. and is licensed in the District of Columbia, Guam, Puerto Rico, the Virgin Islands and all states except New York. We are a wholly-owned indirect subsidiary of Transamerica corporation which conducts most of its operations through subsidiary companies engaged in the insurance business or in providing non-insurance financial services. All of the stock of Transamerica Corporation is indirectly owned by Aegon Ltd., the securities of which are publicly traded. Aegon Ltd., a holding company, conducts its business through subsidiary companies engaged primarily in the insurance business. All obligations arising under the policies, including the promise to make annuity payments, are general corporate obligations of ours and subject to our claims paying ability. Accordingly, no financial institution, brokerage firm or insurance agency is responsible for our financial obligations arising under the policies. We are relying on the exemption provided by Rule 12h-7 under the 1943 Act. In reliance on that exemption, we do not file periodic and current reports that we would be otherwise required to file pursuant to Section 15(d) of the 1934 Act.

**Financial Condition of the Company** 

We pay benefits under Your <u>Policy</u> from our general account assets and/or from Your Policy value held in the <u>Separate Account</u>. It is important that <u>You</u> understand that benefit payments are not assured and depend upon certain factors discussed below.

***Assets in the Separate Account.*** You assume all of the investment risk for Your Policy value that is allocated to the <u>Subaccounts</u> of the Separate Account. Your Policy value in those Subaccounts constitutes a portion of the assets of the Separate Account. These assets are segregated and insulated from our general account, and may not be charged with liabilities arising from any other business that we may conduct. Policy value allocated to a variable option will vary based on the investment experience of the corresponding Portfolio Company in which the variable option invests. For more information *see* The Separate Account below.

***Assets in the General Account.*** You also may be permitted to make allocations to Guaranteed Period Options of the <u>Fixed Account</u>, which are supported by the assets in our general account. Any guarantees under a Policy that exceed Policy value, such as those associated with any lifetime withdrawal benefit riders and any optional death benefits, are paid from our general account (and not the Separate Account). Therefore, any amounts that we may be obligated to pay under the Policy in excess of Policy value are subject to our financial strength and claims-paying ability and our long-term ability to make such payments. The assets of the Separate Account, however, are also available to cover the liabilities of our general account, but only to the extent that the Separate Account assets exceed the Separate Account liabilities arising under the policies supported by it. For more information *see* <u>The Fixed Account</u>.

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We issue other types of insurance policies and financial products as well, and we also pay our obligations under these products from our assets in the general account.

As an insurance company, we are required by state insurance regulation to hold a specified amount of general account reserves in order to meet all the contractual obligations to our Owners. We monitor our reserves so that we hold sufficient amounts to cover actual or expected Policy and claims payments. In addition, we monitor our reserves to that we hold sufficient amounts to cover actual or expected Policy and claims payments. In addition, we hedge our investments in our general account, and may require purchasers of certain benefits of the variable insurance products that we offer to allocate <u>Purchase Payments</u> and Policy value in accordance with specified investment requirements. However, it is important to note that there is no guarantee that we will always be able to meet our claims-paying obligations, and that there are risks to purchasing any insurance product.

State insurance regulators also require insurance companies to maintain a minimum amount of capital, which acts as a cushion in the event that the insurer suffers a financial impairment, based on the inherent risks in the insurer's operations. These risks include those associated with losses that we may incur as the result of defaults on the payment of interest or principal on our general account assets, which include bonds, mortgages, general real estate investments, and stocks, as well as the loss in market value of these investments. We may also experience liquidity risk if our general account assets cannot be readily converted into cash to meet obligations to our Policy Owners or to provide the collateral necessary to finance our business operations.

***How to Obtain More Information***. We encourage Policy Owners to read and understand our financial statements. We prepare our financial statements on a statutory basis. Our financial statements, which are presented in conformity with accounting practices prescribed or permitted by the Iowa Department of Insurance as well as the financial statements of the Separate Account are located in the Statement of Additional Information (SAI). For a free copy of the SAI, simply call or write us at the phone number or address of our <u>[Administrative Office](#adminoffice)</u> referenced in this prospectus. In addition, the SAI is available on the SEC's website at sec.gov. Our financial strength ratings which reflect the opinions of leading independent rating agencies of our ability to meet our obligations to our Policy Owners are available on our website https://www.transamerica.com/why-transamerica/financial-strength, and the websites of these nationally recognized statistical ratings organizations – https://www.ambest.com/home/default.aspx, https://www.moodys.com/ and https://www.spglobal.com/ratings/en/.

**The Separate Account** 

The Company established a Separate Account, called WRL Series Annuity Account, under the laws of the State of Ohio on August 4, 2003. The Separate Account receives and invests the Purchase Payments that are allocated to it for investment in shares of the Underlying Fund Portfolios.

The Separate Account is registered with the SEC as a unit investment trust under the 1940 Act. However, the SEC does not supervise the management, the investment practices, or the policies of the Separate Account or the Company. Income, gains and losses (whether or not realized), from assets allocated to the Separate Account are, in accordance with the policies, credited to or charged against the Separate Account without regard to the Company's other income, gains or losses.

The assets of the Separate Account are held in the Company's name on behalf of the Separate Account and belong to the Company. However, those assets that underlie the policies are not chargeable with liabilities arising out of any other business the Company may conduct. The Separate Account may include other Subaccounts that are not available under these policies.

**The Underlying Funds** 

At the time <u>You</u> purchase Your Policy, You may allocate Your premium to Subaccounts. These are subdivisions of our Separate Account, an account that keeps Your Policy assets separate from our company assets. The Subaccounts then purchase shares of mutual funds set up exclusively for variable annuity or variable life insurance products. These are not the same mutual funds that You buy through an investment professional even though they may have similar investment strategies and the same portfolio managers. Each Underlying Fund Portfolio has varying degrees of investment risk. Underlying Fund Portfolios are also subject to separate fees and expenses such as management fees and operating expenses. "Master-feeder" or "fund of funds" invest substantially all of their assets in other funds and will therefore bear a pro-rata share of fees and expenses incurred by both funds. This will reduce Your investment return. Read the Underlying Fund Portfolio prospectuses carefully before investing. We do not guarantee the investment results of any Underlying Fund Portfolio. Certain Underlying Fund Portfolios may not be available in all states and in all share classes. Please *see* <u>Appendix - Investment Options Available Under the Policy</u> for additional information.

**Other Transamerica Policies** 

We offer a variety of fixed and variable annuity policies. They may offer features, including Investment Options, and have fees and charges, that are different from those in the Policy offered by this prospectus. Not every Policy we issue is offered through every financial intermediary. Some financial intermediaries may not offer and/or limit the offering of certain features or options, as well as

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limit the availability of the policies, based on issue Age, or other criteria established by the financial intermediary. Upon request, Your financial professional can show You information regarding other Transamerica annuity policies that he or she distributes. You can contact us to find out more about the availability of any of the Transamerica annuity policies.

You should decide whether this Policy is appropriate for You based on a thorough analysis of Your particular insurance needs, financial objectives, investment goals, time horizons and risk tolerance.

**VOTING RIGHTS** 

To the extent required by law, we will vote the Underlying Fund Portfolios' shares in accordance with instructions we receive from You and other <u>Owners</u> that have voting interest in the portfolios. We will send You and other Owners' requests for instructions on how to vote those shares. When we receive those instructions, we will vote all of the shares in accordance with those instructions. We will vote shares for which no timely instructions were received in the same proportion as the voting instructions we received. Accordingly, it is possible for a small number of Policy Owners (assuming there is a quorum) to determine the outcome of a vote, especially if they have large Policy values. However, if we determine that we are permitted to vote the shares in our own right, we may do so. Each person having a voting interest will receive proxy material, reports and other materials relating to the appropriate portfolio.

**THE ANNUITY POLICY** 

This prospectus describes information You should know before You purchase the WRL Freedom Conqueror<sup>SM</sup>.

An annuity is a Policy between You (the Owner), and an insurance company (in this case the Company), where the insurance company promises to pay You an income in the form of annuity payments. These payments begin on a designated date, referred to as the [Maturity Date](#maturitydate). *See* <u>ANNUITY PAYMENTS (THE INCOME PHASE)</u>. Until the Maturity Date, Your annuity is in the <u>Accumulation Period</u> and the earnings (if any) are tax deferred. Tax deferral means You generally are not taxed until You take money out of Your annuity. After the Maturity Date, Your annuity switches to the income phase.

The <u>Policy</u> is a flexible premium deferred variable annuity. You can use the Policy to accumulate assets for retirement or other long-term financial planning purposes.

The Policy is a "flexible premium" annuity because after You purchase it, You can generally make additional <u>Purchase Payments</u> of $50 or more until the <u>Maturity Date</u>. You are not required to make any additional Purchase Payments.

The Policy is a "variable" annuity because the value of <u>Your</u> Policy can go up or down based on the performance of Your <u>Subaccounts</u>. If You invest in the Separate Account, the amount of money You are able to accumulate in Your Policy during the Accumulation Period depends upon the performance of Your Subaccounts. If You elect to receive variable annuity payments during the income phase of Your Policy, the amount of Your annuity payments will also depend upon the performance of Your Subaccounts for the income phase.

The Policy also contains a <u>Fixed Account</u>. The Fixed Account offers an interest rate that is guaranteed by the Company to equal at least 4% per year. There may be different interest rates for each payment or transfer You direct to the Fixed Account which are equal to or greater than the guaranteed rate. The interest rates we set will be credited for periods of at least one year measured from each payment or transfer date.

**Do not purchase this Policy if You plan to use it, or any of its riders, for resale, speculation, arbitrage, viatication, or any other type of collective investment scheme.** Your Policy is not intended or designed to be traded on any stock exchange or secondary market. By purchasing this Policy, You represent and warrant that You are not using the Policy, or any of its riders for resale, speculation, arbitrage, viatication, or any other type of collective investment scheme.

**PURCHASE** 

**Policy Issue Requirements** 

We will not issue a Policy unless:

● we receive the information we need to issue the Policy at our <u>Administrative Office</u> in good order;

● we receive a minimum initial Purchase Payment (except for the 403(b) policies); and

● You are Age 85 or younger and the Annuitant is Age 80 or younger.

We may reject any application or Purchase Payments for any reason permitted by law.

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**Purchase Payments** 

You should make checks or drafts for Purchase Payments payable only to Transamerica Life Insurance Company and send them to our Administrative Office. Your check or draft must be honored in order for us to pay any associated annuity payments and benefits due under the Policy.

We do not accept cash or money orders. We reserve the right to not accept third party checks. A third party check is a check that is made payable to one person who endorses it and offers it as payment to a second person. Checks should normally be payable to Transamerica Life Insurance Company, however, in some circumstances, at our discretion we may accept third party checks that are from a rollover or transfer from other financial institutions. Any third party checks not accepted by us will be returned.

We reserve the right to reject or accept any form of payment. Any unacceptable forms of payment will be returned.

**Initial Purchase Requirements**

The initial Purchase Payment for nonqualified policies must be at least $5,000. However, You may make a minimum initial Purchase Payment of $1,000, rather than $5,000, if You indicate on Your application that You anticipate making minimum monthly payments of at least $100 by electronic funds transfer. For traditional or Roth IRAs, the minimum initial Purchase Payment is $1,000 and for qualified policies other than traditional or Roth IRAs, the minimum initial Purchase Payment is $50.

We will credit Your initial Purchase Payment to Your Policy within two business days after the day we receive it and Your complete Policy information in good order. If we are unable to credit Your initial Purchase Payment, we (or Your agent) will contact You within five business days and explain why. We will also return Your initial Purchase Payment at that time unless You tell us (or Your agent) to keep it and to credit it as soon as we receive all necessary application information.

The date on which we credit Your initial Purchase Payment to Your Policy is generally the <u>[Policy Date](#policydate)</u>. The Policy Date is used to determine Policy years, Policy months and <u>Policy Anniversaries</u>.

Although we do not anticipate delays in processing Your application, we may experience delays if agents fail to forward applications and Purchase Payments to our Administrative Office in a timely manner. Any delays will affect when Your Policy can be issued and when Your Purchase Payment is allocated among the investment choices.

If You wish to make Purchase Payments by bank wire, please contact our <u>Administrative Office</u> at (800)851-9777 (Monday–Friday 8:30 a.m.–7:00 p.m. Eastern Time).

We may reject any application or Purchase Payment for any reason permitted by law.

**Additional Purchase Payments** 

You are not required to make any additional Purchase Payments. However, You can generally make additional Purchase Payments as often as You like during the lifetime of the <u>Annuitant</u> and prior to the Maturity Date. We will accept Purchase Payments by bank wire or by check. Additional Purchase Payments must be at least $50 ($100 monthly in the case of nonqualified policies with a $1,000 initial Purchase Payment and $1,000 if by wire). We reserve the right to refuse any additional Purchase Payments in excess of these limits, and if You do not obtain prior approval for Purchase Payments in excess of the dollar amounts listed above, the business will be deemed not in good order. We will credit any additional Purchase Payments You make to Your Policy at the <u>[Accumulation Unit Value](#accumunitvalue)</u> computed at the end of the business day on which we receive them in good order at our Administrative Office. Our business day closes when the <u>[NYSE](#nyse)</u> closes, usually at 4:00 p.m. Eastern Time. If we receive Your Purchase Payments after the close of our business day, we will calculate and credit them as of the close of the next business day. Additional Purchase Payments received in good order on non-business days or after our close of business on business days will receive next-day pricing. See <u>Sending Forms and Transaction Requests in Good Order</u>.

**Maximum Total Purchase Payments** 

We reserve the right to require prior approval of any cumulative Purchase Payments over $1,000,000 (this includes subsequent Purchase Payments) for all policies with the same <u>Owner</u> or same Annuitant issued by us or an affiliate. If You do not obtain prior approval for Purchase Payments in excess of the dollar amounts listed above, the business will be deemed not in good order.

**Allocation of Purchase Payments** 

On the <u>Policy Date</u>, we will allocate Your <u>Purchase Payment</u> to the investment choices You selected on Your application. Your allocation must be in whole percentages and must total 100%. We will allocate additional Purchase Payments as selected on Your application, unless You request a different allocation.

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If You allocate Purchase Payments to the Dollar Cost Averaging program, then You must give us instructions regarding the Subaccount(s) to which transfers are to be made or we cannot accept Your Purchase Payment.

You may change allocations for future additional Purchase Payments by writing or by telephoning the Administrative Office or by visiting our website, tlic.transamerica.com, subject to the limitations described under <u>ADDITIONAL FEATURES - Telephone, Fax and Internet Transactions</u>. The allocation change will apply to Purchase Payments received on or after the date we receive the change request at our Administrative Office in good order.

**You should review periodically how Your Purchase Payments are divided among the Subaccounts because market conditions and Your overall financial objectives may change**.

**Annuity Value** 

You should expect Your Annuity Value to change from <u>[Valuation Period](#valuperiod)</u> to Valuation Period to reflect the investment performance of the portfolios, the interest credited to Your value in the Fixed Account, and the fees and charges we deduct. A Valuation Period begins at the close of regular trading on each business day and ends at the close of regular trading on the next <u>[Valuation Date](#valuedate)</u>. A Valuation Date is any day the <u>NYSE</u> is open. Our business day closes when the NYSE closes, usually 4:00 p.m. Eastern Time. We observe the same holidays as the NYSE.

**Accumulation Units** 

We measure the value of <u>Your</u> Policy during the <u>[Accumulation Period](#accumperiod)</u> by using a measurement called an accumulation unit. During the income phase, we use a measurement called an annuity unit. When You direct money into a <u>Subaccount</u>, we credit Your Policy with accumulation units for that Subaccount. We determine how many accumulation units to credit by dividing the dollar amount You direct to the Subaccount by the Subaccount's Accumulation Unit Value as of the end of that Valuation Date. If You withdraw or transfer out of a Subaccount, or if we assess a transfer charge, annual Policy charge, or any withdrawal charge, we subtract accumulation units from the Subaccounts using the same method.

Each Subaccount's Accumulation Unit Value was set at $10 when the Subaccount started. We recalculate the Accumulation Unit Value for each Subaccount at the close of each Valuation Date. The new <u>Accumulation Unit Value</u> reflects the investment performance and the fees and expenses of the <u>Underlying Fund Portfolio</u>, and the daily deduction of the mortality and expense risk charge and administrative charge. For a detailed discussion of how we determine Accumulation Unit Values, see the SAI.

**INVESTMENT CHoices** 

The WRL Freedom Conqueror<sup>SM</sup> variable annuity offers You a means of investing in various Underlying Fund Portfolios offered by different investment companies (by investing in the corresponding Subaccounts). The companies that provide investment advice and administrative services for the Underlying Fund Portfolios offered through this Policy are listed in the <u>Appendix</u> <u>–</u> <u>Investment Options Available Under the Policy</u>.

The general public may not purchase shares of any of these Underlying Fund Portfolios. Their investment objectives and policies may be similar to other Underlying Fund Portfolios and mutual funds managed by the same investment adviser or sub-adviser that are sold directly to the public. You should not expect that the investment results of the other portfolios and mutual funds will be comparable to those portfolios offered by this prospectus.

**There is no assurance that an Underlying Fund Portfolio will achieve its stated objective(s). For example, during extended periods of low interest rates, the yield of a money market Subaccount may become extremely low and possibly negative. More detailed information may be found in the underlying fund prospectuses. You should read the underlying fund prospectuses carefully before You invest**.

Please contact our Administrative Office at (800)851-9777 (Monday - Friday 8:30 a.m. - 7:00 p.m. Eastern Time) or visit our website http://dfinview.com/Transamerica/TAHD/89358R382?site=VAVUL to obtain an additional copy of the Underlying Fund Portfolio prospectuses containing more complete information concerning the funds and portfolios.

**Note:** If You received a summary prospectus for any of the Underlying Fund Portfolios listed in <u>Appendix - Investment Options</u> <u>Available Under the Policy</u>, please follow the instructions on the first page of the summary prospectus to obtain a copy of the full underlying fund prospectus or its Statement of Additional Information.

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**Selection of Underlying Fund Portfolios** 

The Underlying Fund Portfolios offered through this variable annuity are selected by us, and we may consider various factors, including, but not limited to, asset class coverage, the strength of the adviser's or sub-adviser's reputation and tenure, brand recognition, performance, and the capability and qualification of each investment firm. Another factor that we may consider is whether the Underlying Fund Portfolio or its service providers (e.g., the investment adviser or sub-advisers) or its affiliates will make payments to us or our affiliates. For additional information about these arrangements, *see* <u>Revenue We Receive</u>. We review the portfolios periodically and may remove a portfolio, or limit its availability to new premiums and/or transfers of <u>Cash Value</u> if we determine that a portfolio no longer satisfies one or more of the selection criteria, and/or if the portfolio has not attracted significant allocations from Owners. We have included the Transamerica Series Trust ("TST") Underlying Fund Portfolios at least in part because they are managed by one of our affiliates, Transamerica Asset Management, Inc. ("TAM").

We have developed this variable annuity product in cooperation with one or more distributors, and have included certain Underlying Fund Portfolios based on their recommendations, their selection criteria may differ from our selection criteria.

<u>You</u> are responsible for choosing the <u>Underlying Fund Portfolios</u>, and the amounts allocated to each, that are appropriate for Your own individual circumstances and our investment goals, financial situation, and risk tolerance. Because investment risk is borne by You, decisions regarding investment allocations should be carefully considered.

In making Your investment selections, we encourage You to thoroughly investigate all of the information regarding the Underlying Fund Portfolios that are available to You, including each Underlying Fund Portfolio's prospectus, statement of additional information and annual and semi-annual reports. Other sources such as newspapers and financial and other magazines provide more current information, including information about any regulatory actions or investigations relating to a fund or Underlying Fund Portfolio. After You select Underlying Fund Portfolios for Your initial <u>Purchase Payment</u>, You should monitor and periodically re-evaluate Your allocations to determine if they are still appropriate.

**You bear the risk of any decline in the Cash Value of Your Policy resulting from the performance of the Underlying Fund Portfolios You have chosen.** 

We do not recommend or endorse any particular Underlying Fund Portfolio and we do not provide investment advice.

We do not guarantee that each portfolio will always be available for investment through the Policy. We reserve the right, subject to compliance with applicable laws, to add new portfolios or portfolio classes, close existing portfolios or portfolio classes to allocations of new premiums by existing Owners or new Policy Owners at any time, or substitute portfolio shares that are held by any <u>Subaccount</u> for shares of a different portfolio. New or substitute portfolios or portfolio classes may have different fees and expenses and their availability may be limited to certain classes of purchasers. We reserve the right to limit the number of Subaccounts You are invested in at any one time.

**Addition, Deletion, or Substitution of Investment Options** 

We cannot and do not guarantee that any of the Subaccounts will always be available for Premium Payments, allocations, or transfers. We reserve the right, subject to compliance with applicable law, to add, remove or combine Subaccounts, and substitute the shares that are held by the <u>Separate Account</u> for shares of another portfolio, at our discretion. We reserve the right to eliminate the shares of any portfolios of a fund and to substitute shares of other Underlying Fund Portfolios (or of other open-end registered investment companies). We will not, however, substitute shares attributable to an <u>Owner's</u> interest in a Subaccount without notice to, and prior regulatory approval of to the extent required by applicable law.

We also reserve the right to establish additional Subaccounts, each of which would invest in a new portfolio of a fund, or in shares of another investment company, with a specified investment objective.

New Subaccounts may be established when, in our sole discretion, marketing, tax, investment or other conditions warrant. Any new Subaccounts may be made available to existing Owners on a basis to be determined by us. Each additional Subaccount will purchase shares in an Underlying Fund Portfolio or other investment vehicle. We may also close one or more Subaccounts if, in our sole discretion, marketing, tax, investment or other conditions warrant such change. In the event any Subaccount is closed, we will notify You and request a reallocation of the amounts invested in the closed Subaccount. If we do not receive new instructions, the requested transaction (including dollar cost averaging transactions or asset rebalance programs transactions) will be cancelled. Any Purchase] Payment will be considered not in good order. The value of the closed Subaccount will continue to fluctuate due to portfolio performance and may exceed the original rebalance percentages You requested. As You consider Your overall investment strategy within Your annuity, You should also consider whether or not to re-allocate the value remaining in the closed Subaccount to another investment choice. If You decide to re-allocate the value of the closed Subaccount, You will need to provide us with instructions to achieve Your goal. Under certain situations involving <u>Annuitizations</u> (e.g., Policy reached maximum Maturity Date) if an investment

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choice is closed to new investment, the amount that would have been allocated thereto will instead be used to purchase annuity units pro-rata in the other investment choices You have purchased accumulation units in and which are open to new investment. Moreover, in certain situations involving death benefit adjustments for continued policies, if an investment choice is closed to new investment, the amount that would have been allocated thereto will instead be allocated pro-rata to the other current investment choices You have allocated to and which are open to new investments.

In the event of any such substitution or change, we may, by appropriate endorsement, make such changes in the policies as may be necessary or appropriate to reflect such substitution or change. Furthermore, if deemed to be in the best interests of persons having voting rights under the policies, the Separate Account may be (1) operated as a management company under the 1940 Act, or any other form permitted by law, (2) deregistered under the 1940 Act in the event such registration is no longer required or (3) combined with one or more other Separate Accounts. To the extent permitted by applicable law, we also may (1) transfer the assets of the Separate Account associated with the policies to another account or accounts, (2) restrict or eliminate any voting rights of Owners or other persons who have voting rights as to the Separate Account, (3) create new Separate Accounts, (4) add new Subaccounts to or remove existing Subaccounts from the Separate Account, or combine Subaccounts or (5) add new Underlying Fund Portfolios, or substitute a new Underlying Fund Portfolio for an existing Underlying Fund Portfolio.

In addition, a Subaccount could become no longer available due to the liquidation of its corresponding Underlying Fund Portfolio. To the extent permitted by applicable law, upon advance notice to You and unless You otherwise instruct us, we will:

1)

Re-allocate any Policy value in the liquidated fund to the money market Subaccount or a Subaccount investing in another Underlying Fund Portfolio designated by us; and

2)

If You are using an automated transfer feature such as the Rebalancing program or Dollar Cost Averaging with the Subaccount for the portfolio, You should contact us immediately to make alternate arrangements. If you do not make alternate arrangements before the closure date, any subsequent allocations to the Subaccount for the portfolio will be directed to the Money Market Subaccount.

We reserve the right, subject to compliance with applicable law, to make certain changes to the Separate Account and its investments. We reserve the right to add new portfolios (or portfolio classes), close existing portfolios (or portfolio classes), or substitute portfolio shares that are held by any Subaccount for shares of a different portfolio. We will not add, delete or substitute any Underlying Fund Portfolio shares attributable to Your interest in a Subaccount without notice to You and prior approval of the SEC, to the extent required by the 1940 Act or other applicable law.

**The Fixed Account** 

**Purchase Payments allocated and amounts transferred to the Fixed Account become part of our general account. Interests in the general account have not been registered under the Securities Act of 1933 (the "1933 Act"), nor is the general account registered as an investment company under the Investment Company Act of 1940, as amended (the "1940 Act"). Accordingly, neither the general account nor any interests therein are generally subject to the provisions of the 1933 or 1940 Acts. We have been advised that the staff of the SEC has not reviewed the disclosure in this prospectus which relates to the Fixed Account.** 

While we do not guarantee that the Fixed Account will always be available for investment, we guarantee that the interest credited to the Fixed Account will not be less than 4% per year. We have no formula for determining Fixed Account interest rates. We establish the interest rate, at our sole discretion, for each Purchase Payment or transfer into the Fixed Account. Rates are guaranteed for at least one year, but will never be less than 4% per year.

Any money You allocate or transfer to the <u>Fixed Account</u> will be placed with our other general assets. All assets in our general account are subject to the general liabilities of our business operations. The amount of money You are able to accumulate in the Fixed Account during the Accumulation Period depends upon the total interest credited. The amount of annuity payments You receive during the income phase under a fixed annuity option will remain level for the entire income phase.

When You request a transfer, or if we consent to a withdrawal from the Fixed Account, we will account for it on a first-in, first-out ("FIFO") basis, for purposes of crediting Your interest. This means that we will take the deduction from the oldest money You have put in the Fixed Account. You may transfer money from the Fixed Account to the Subaccounts once during each Policy year, subject to certain restrictions. You may not transfer money between the Fixed Account and the Subaccounts during the income phase. You may not make withdrawals from the Fixed Account unless we consent.

**Transfers** 

During the Accumulation Period, You or Your agent/registered representative of record may make transfers from any Subaccount. However, if You elect the asset rebalancing program, You may not make any transfers if You want to continue in the program. A transfer would automatically cancel Your participation in the asset rebalancing program.

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Currently, we allow You to transfer up to 100% of the amount in the Fixed Account. However, we reserve the right to require that You comply with one or more of the following:

● That You only make one transfer per Policy year. This restriction does not apply if You have selected dollar cost averaging.

● That You request transfers from the Fixed Account in writing;

● That You only make transfers from the Fixed Account during the 30 days following each Policy Anniversary; and

● That You limit the maximum amount You transfer from the Fixed Account to the greater of:

(1) 25% of the amount in the Fixed Account; or

(2) the amount You transferred from the Fixed Account in the immediately prior Policy year.

(**Note**: This restriction may prolong the period of time it takes to transfer the total Annuity Value allocated to the Fixed Account to other investment choices. <u>You</u> should carefully consider whether investment in the Fixed Account meets Your needs and investment criteria.)

Before affecting any of these requirements, we will notify You in writing, and they will apply uniformly to all Owners.

Except when used to pay premiums, we may also defer payment of any amounts from the Fixed Account for no longer than six months after we receive written notice of Your request for the transfer. Transfers from the Fixed Account are not available through our website.

During the income phase of Your <u>Policy</u>, You may transfer values from one <u>Subaccount</u> to another. No transfers may be made to or from the Fixed Account during the income phase. The minimum amount that can be transferred during this phase is the lesser of $10 of monthly income, or the entire monthly income of the variable annuity units in the Subaccount from which the transfer is being made. We may limit Subaccount transfers to once per Policy year.

The Fixed Account is not available in all states. If Your Policy was issued in New Jersey or Washington, You may not transfer any of Your Policy value to the Fixed Account.

Transfers may be made by telephone, fax or Internet, subject to limitations described under <u>ADDITIONAL FEATURES</u> <u>–</u> <u>Telephone, Fax and Internet Transactions</u>. We consider all transfers made in any one day to be a single transfer.

If You make more than 12 transfers from the Subaccounts in any Policy year, we may charge You $10 for each additional transfer You make during that year. There is no charge for transfers from the Fixed Account, however, they will be counted toward the 12 free transfers allowed per Policy year. We do not currently charge for transfers, although we reserve the right to do so in the future.

Transfers to and from the Subaccounts will be processed based on the Accumulation Unit Values determined at the end of the business day on which we receive Your written, telephoned, or faxed request, provided we receive Your request in good order before the close of regular trading (usually 4:00 p.m. Eastern Time). If we receive Your request after the close of our business on market day we will process the transfer request using next day pricing.

**Market Timing and Disruptive Trading** 

**The market timing Policy and the related procedures (discussed below) do not apply to the ProFunds Subaccounts because the corresponding portfolios are specifically designed to accommodate frequent transfer activity. If You invest in the ProFunds Subaccounts, You should be aware that You may bear the costs and increased risks of frequent transfers discussed below.** 

<u>Statement of Policy</u>. This variable annuity was not designed to accommodate market timing or facilitate frequent or large transfers among the Subaccounts or between the Subaccounts and the Fixed Account. (Both frequent and large transfers may be considered disruptive.)

Market timing and disruptive trading can adversely affect You, other Owners, <u>Beneficiaries</u> and <u>Underlying Fund Portfolios</u>. The adverse effects may include: (1) dilution of the interests of long-term investors in a Subaccount if purchases or transfers into or out of an Underlying Fund Portfolio are made at prices that do not reflect an accurate value for the Underlying Fund Portfolio's investments (some market timers attempt to do this through methods known as "time-zone arbitrage" and "liquidity arbitrage"); (2) an adverse effect on portfolio management, such as (a) impeding a portfolio manager's ability to seek or sustain an investment objective; (b) causing the Underlying Fund Portfolio to maintain a higher level of cash than would otherwise be the case; or (c) causing an Underlying Fund Portfolio to liquidate investments prematurely (or otherwise at an inopportune time) in order to pay Withdrawals or transfers out of the Underlying Fund Portfolio; and (3) increased brokerage and administrative expenses. These risks and costs are borne by all Owners invested in those Subaccounts, not just those making the transfers.

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We have developed policies and procedures with respect to market timing and disruptive trading (which vary for certain Subaccounts at the request of the corresponding Underlying Fund Portfolios) and we do not make special arrangements or grant exceptions to accommodate market timing or potentially disruptive trading. As discussed herein, we cannot detect or deter all market timing or potentially disruptive trading. Do not invest with us if You intend to conduct market timing or potentially disruptive trading or have concerns about our inability to detect or prevent such trading.

<u>Detection</u>. We employ various means in an attempt to detect and deter market timing and disruptive trading. However, despite our monitoring we may not be able to detect nor halt all harmful trading. In addition, because other insurance companies (and retirement plans) with different policies and procedures may invest in the Underlying Fund Portfolios, we cannot guarantee that all harmful trading will be detected or that an Underlying Fund Portfolio will not suffer harm from market timing and disruptive trading among Subaccounts of variable products issued by these other insurance companies or retirement plans.

<u>Deterrence</u>. If we determine <u>You</u> or anyone acting on Your behalf is engaged in market timing or disruptive trading, we may take one or more actions in an attempt to halt such trading. Your ability to make transfers is subject to modification or restriction if we determine, in our sole opinion, that Your exercise of the transfer privilege may disadvantage or potentially harm the rights or interests of other Owners (or others having an interest in the variable insurance products). As described below, restrictions may take various forms, but under our current policies and procedures will include loss of expedited transfer privileges. We consider transfers by telephone, fax, overnight mail, or the Internet to be "expedited" transfers. This means that we would accept only written transfer requests with an original signature sent to us only by U.S. mail. We may also restrict the transfer privileges of others acting on Your behalf, including Your registered representative or an asset allocation or investment advisory service.

We reserve the right to reject any Purchase Payment or transfer request from any person without prior notice, if, in our judgment, (1) the Purchase Payment or transfer, or series of Purchase Payments or transfers, would have a negative impact on an Underlying Fund Portfolio's operations, or (2) if an Underlying Fund Portfolio would reject or has rejected our purchase order or has instructed us not to allow that purchase or transfer, or (3) because of a history of market timing or disruptive trading. We may impose other restrictions on transfers, or even prohibit transfers for any <u>Owner</u> who, in our view, has abused, or appears likely to abuse, the transfer privilege on a case-by-case basis. We may, at any time and without prior notice, discontinue transfer privileges, modify our procedures, impose holding period requirements or limit the number, size, frequency, manner, or timing of transfers we permit. We also reserve the right to reverse a potentially harmful transfer if an Underlying Fund Portfolio refuses or reverses our order; in such instances some Owners may be treated differently than others in that some transfers may be reversed and others allowed. For all of these purposes, we may aggregate two or more trades or variable insurance products that we believe are connected by Owner or persons engaged in trading on behalf of Owners.

In addition, transfers for multiple policies invested in the Transamerica Series Trust <u>Underlying Fund Portfolios</u> which are submitted together may be disruptive at certain levels. At the present time, such aggregated transactions likely will not cause disruption if less than one million dollars total is being transferred with respect to any one Underlying Fund Portfolio (a smaller amount may apply to smaller portfolios). Please note that transfers of less than one million dollars may be disruptive in some circumstances; we may change the maximum dollar amount of permitted transfers quickly and without notice.

**Please note**: If You engage a third party investment adviser for asset allocation services, then You may be subject to these transfer restrictions because of the actions of Your investment adviser in providing these services.

In addition to our internal policies and procedures, we will administer Your variable annuity Policy to comply with any applicable state, federal, and other regulatory requirements concerning transfers. We reserve the right to implement, administer, and charge You for any fee or restriction, including redemption fees, imposed by any Underlying Fund Portfolio. To the extent permitted by law, we also reserve the right to defer the transfer privilege at any time that we are unable to purchase or redeem shares of any of the Underlying Fund Portfolios.

Under our current policies and procedures, we do not:

● impose redemption fees on transfers; or

● expressly limit the number or size of transfers in a given period except for certain Subaccounts where an Underlying Fund Portfolio has advised us to prohibit certain transfers that exceed a certain size; or

● provide a certain number of allowable transfers in a given period.

Redemption fees, transfer limits, and other procedures or restrictions imposed by the underlying funds or our competitors may be more or less successful than ours in deterring market timing or other disruptive trading and in preventing or limiting harm from such trading.

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In the absence of preventative transfer restriction (e.g., expressly limiting the number of trades within a given period or limiting trades by their size), it is likely that some level of market timing and disruptive trading will occur before it is detected and steps taken to deter it.

Please note that the limits and restrictions described herein are subject to our ability to monitor transfer activity. Our ability to detect market timing or disruptive trading may be limited by operational and technological systems, as well as by our ability to predict strategies employed by Owners (or those acting on their behalf) to avoid detection. As a result, despite our efforts to prevent harmful trading activity among the variable investment choices available under this variable insurance product, there is no assurance that we will be able to detect or deter market timing or disruptive trading by such Owners or intermediaries acting on their behalf. Moreover, our ability to discourage and restrict market timing or disruptive trading may be limited by decisions of state regulatory bodies and court orders that we cannot predict.

Furthermore, we may revise our policies and procedures in our sole discretion at any time and without prior notice, as we deem necessary or appropriate (1) to better detect and deter harmful trading that may adversely affect other Owners, other persons with material rights under the variable insurance products, or underlying fund shareholders generally, (2) to comply with state or federal regulatory requirements, or (3) to impose additional or alternative restrictions on Owners engaging in market timing or disruptive trading among the investment choices under the variable insurance product. In addition, we may not honor transfer requests if any variable investment choices that would be affected by the transfer is unable to purchase or redeem shares of its corresponding <u>Underlying Fund Portfolio</u>.

<u>Underlying Fund Portfolio Frequent Trading Policies</u>. The Underlying Fund Portfolios may have adopted their own policies and procedures with respect to frequent purchases and redemptions of their respective shares. Underlying Fund Portfolios may, for example, assess a redemption fee (which we reserve the right to collect) on shares held for less than a certain period of time. The prospectuses for the Underlying Fund Portfolios describe any such policies and procedures. The frequent trading policies and procedures of an Underlying Fund Portfolio may be different, and more or less restrictive, than the frequent trading policies and procedures of other Underlying Fund Portfolios and the policies and procedures we have adopted for our variable insurance products to discourage market timing and disruptive trading. We do not monitor transfer requests for compliance with the frequent trading policies and procedures of the respective Underlying Fund Portfolios.

We are required to provide to an Underlying Fund Portfolio or its payee certain information about the trading activity of individual Owners. We may be required to restrict or prohibit further purchases or transfers by specific Owners or persons acting on their behalf, identified by an Underlying Fund Portfolio as violating frequent trading policies.

Please read the underlying fund portfolio prospectus for information about restrictions on transfers.

<u>Omnibus Orders</u>. Owners and other persons with material rights under the variable insurance products also should be aware that the purchase and redemption orders received by the Underlying Fund Portfolios generally are "omnibus" orders from intermediaries such as retirement plans and Separate Accounts funding variable insurance products. The omnibus orders reflect the aggregation and netting of multiple orders from individual retirement plan participants and individual Owners of variable insurance products. The omnibus nature of these orders may limit the Underlying Fund Portfolio companies' ability to apply their respective frequent trading policies and procedures.

We cannot guarantee that the Underlying Fund Portfolios will not be harmed by transfer activity relating to the retirement plans or other insurance companies that may invest in the Underlying Fund Portfolios. These other insurance companies are responsible for their own policies and procedures regarding frequent transfer activity. If their policies and procedures fail to successfully discourage harmful transfer activity, it may affect other Owners of Underlying Fund Portfolio shares, as well as the Owners of all of the variable annuity or life insurance policies, including ours, whose variable <u>Investment Options</u> correspond to the affected Underlying Fund Portfolios. In addition, if an Underlying Fund Portfolio believes that an omnibus order we submit may reflect one or more transfer requests from Owners engaged in market timing and disruptive trading, the Underlying Fund Portfolio may reject the entire omnibus order and thereby delay or prevent us from implementing Your request.

**Third Party Investment Services** 

The Company or an affiliate may provide administrative or other support services to independent third parties You authorize to conduct transfers on Your behalf, or who provide recommendations as to how Your Subaccount values should be allocated. This includes, but is not limited to, transferring Subaccount values among <u>Subaccounts</u> in accordance with various investment allocation strategies that these third parties employ.

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**The Company does not engage any third parties to offer investment allocation services of any type, so that persons or firms offering such services do so independent from any agency relationship they may have with us for the sale of policies. We, therefore, takes no responsibility for the investment allocations and transfers transacted on Your behalf by such third parties or any investment allocation recommendations made by such parties.** 

The Company does not currently charge You any additional fees for providing these support services. We reserve the right to discontinue providing administrative and support services to Owners utilizing independent third parties who provide investment allocation and transfer recommendations.

**Note carefully:** 

● We do not offer, and do not engage any third parties to offer, investment allocation services of any type for use with the Policy.

● We are not party to any agreement that You may have with any third parties that offer investment allocation services for use with Your Policy. We are not responsible for any recommendations such investment advisers make, any investment strategies they choose to follow, or any specific transfers they make on Your behalf.

● Any fee that is charged by third parties offering investment allocation services for use with Your Policy is in addition to the fees and expenses that apply under Your Policy.

● If You make withdrawals from Your Policy value to pay advisory fees, then taxes may apply to any such Withdrawals and tax penalties may be assessed on Withdrawals made before You attain Age 59½.

**EXPENSES** 

There are charges and expenses associated with <u>Your</u> Policy that reduce the return on Your investment in the <u>Policy</u>. Unless we indicate otherwise, the expenses described below apply only during the <u>Accumulation Period</u>. The charges we deduct are used to pay aggregate Policy costs and expenses that we incur in providing the services and benefits under the Policy and assuming the risks associated with the Policy and riders. The charges may result in a profit to us.

**Transaction Expenses** 

**Withdrawal Charge** 

During the Accumulation Period, except under certain qualified policies, You may withdraw part or all of the Policy's <u>Annuity Value</u>. We impose a withdrawal charge to help us recover sales expenses, including broker/dealer compensation and printing, sales literature and advertising costs. We expect to profit from this charge. We deduct this charge from Your Annuity Value at the time You request a withdrawal or complete <u>Surrender</u>.

If You take a withdrawal or if You Surrender Your Policy completely, we will deduct a withdrawal charge of up to 8% of Purchase Payments withdrawn within seven years after we receive a <u>Purchase Payment</u>. We calculate the withdrawal charge on the full amount we must withdraw from Your Annuity Value in order to pay the withdrawal amount, including the withdrawal charge. To calculate withdrawal charges, we treat withdrawals as coming first from the oldest Purchase Payment, then the next oldest and so forth.

For the first withdrawal You make in any Policy year, we waive that portion of the withdrawal charge that is based on the first 10% of Your Policy's Annuity Value at the time of the withdrawal. Amounts of the first withdrawal in excess of the first 10% of Your Policy's Annuity Value and all subsequent withdrawals You make during the Policy year will be subject to a withdrawal charge.

We will deduct the full withdrawal charge if You Surrender Your Policy completely; the 10% waiver will not apply to complete Surrenders. We do not assess withdrawal charges when You <u>Annuitize</u> or for systematic withdrawals, up to the amount permitted under the terms of Your Policy. We waive the withdrawal charge under certain circumstances (see below).

We will deduct the full withdrawal charge from the death benefit if the <u>Annuitant</u> dies and the death benefit payable is the Policy's <u>Cash Value</u>.

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The following schedule shows the withdrawal charges that apply during the seven years following each Purchase Payment:

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| | |
|:---|:---|
| **Number of Years From Receipt**<br> **of Each Purchase Payment**<br>| **Withdrawal**<br> **Charge**<br>|
| 0-1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8% |
| 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7% |
| 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6% |
| 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5% |
| 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4% |
| 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3% |
| 7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2% |
| Over 7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0% |

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For example, assume Your Policy's Annuity Value is $100,000 at the end of the 2<sup>nd</sup> year since Your initial Purchase Payment and You withdraw $30,000 as Your first withdrawal of the Policy year. Because the $30,000 is more than 10% of Your Policy's Annuity Value ($10,000), You would pay a withdrawal charge of $1,505.37 on the remaining $20,000 (7% of $21,505.37, which is $20,000 plus the $1,505.37 withdrawal charge).

On a complete Surrender, we deduct withdrawal charges on the amount of Purchase Payments paid that are subject to the withdrawal charge. For example, assume Your initial Purchase Payment was $100,000, You have taken no withdrawals that Policy year, Your Annuity Value is $106,000 in the second Policy year and You request a complete Surrender. You would pay a withdrawal charge of $7,000 on the $100,000 Purchase Payment, (7% of $100,000). Likewise, if there was a market loss and You requested a complete Surrender (Annuity Value is $80,000), You would pay a withdrawal charge of $7,000 (7% of $100,000).

Keep in mind that withdrawals may be taxable, and if made before <u>Age</u> 59½, may be subject to a 10% federal penalty tax. For tax purposes, withdrawals are considered to come from earnings first.

**Premium Taxes** 

Some states assess premium taxes on the Purchase Payments You make. A premium tax is a regulatory tax that some states assess on the Purchase Payments made into a Policy. If we should have to pay any premium tax, we may deduct the tax from each Purchase Payment or from the <u>Accumulation Unit Value</u> as we incur the tax. We may deduct the total amount of premium taxes, if any, from the Annuity Value when:

● You elect to begin receiving annuity payments;

● You Surrender the Policy;

● You request a Withdrawal; or

● a death benefit is paid.

Generally, premium taxes range from 0% to 3.50%, depending on the state.

**Federal, State and Local Taxes** 

We may in the future deduct charges from the Policy for any taxes we incur because of the Policy. However, no deductions are being made at the present time.

**Special Service Fees** 

We currently deduct a charge for overnight delivery and duplicate policies. We reserve the right to deduct a charge for special services in the future, including non-sufficient checks on new business; duplicate Form 1099 and Form 5498 tax forms; check copies; printing and mailing previously submitted forms; and asset verification requests from mortgage companies. We may charge a fee for each service performed and fees may vary based on the type of service but will not exceed the maximum Special Service Fee shown above.

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**Transfer Charge** 

You are allowed to make 12 free transfers among the <u>Subaccounts</u> per Policy year. If You make more than 12 transfers per Policy year, we reserve the right to charge $10 for each additional transfer. We deduct the charge from the amount transferred. Dollar cost averaging transfers and asset rebalancing transfers are considered transfers for this purpose. All transfer requests made on the same day are treated as a single request. There is no charge for transfers from the <u>Fixed Account</u>, however, they will be counted towards the 12 free allowed per Policy year. We do not currently charge for transfers among Subaccounts, although we reserve the right to do so in the future. We deduct the charge to compensate us for the cost of processing the transfer.

**Base Contract Expenses** 

**Mortality and Expense Risk Fees** 

We charge a fee as compensation for bearing certain mortality and expense risks under the <u>Policy</u>. Examples include a guarantee of annuity rates, the death benefits, certain Policy expenses, and assuming the risk that the current charges will be insufficient in the future to cover costs of administering the Policy. The mortality and expense risk charge is equal, on an annual basis, to 1.25% of the average daily net assets that You have invested in each Subaccount. This charge is deducted daily from the Subaccounts during both the Accumulation Period and the income phase.

If these charges do not cover our actual mortality and expense risk costs, we absorb the loss. Conversely, if these charges more than cover actual costs, the excess is added to our surplus. We expect to profit from these charges. We may use any profits to cover distribution costs.

**Administrative Charges** 

We deduct an annual administrative charge to cover the costs of supporting and administering the policies. This charge is assessed daily and is equal to 0.15% per year of the average daily net assets that You have invested in each Subaccount.

**Annual Policy Charge** 

We deduct an annual Policy charge of $35 from Your <u>Annuity Value</u> on each <u>[Policy Anniversary](#policyanni)</u> during the Accumulation Period and at <u>Surrender</u>. We deduct this charge from the Fixed Account and each Subaccount in proportion to the amount of Annuity Value in each account. We deduct the charge to cover our costs of administering the Policy.

**Loan Processing Fee** 

If You take a Policy loan, we will impose a $30 loan processing fee. We deduct this fee from the loan amount. This fee is not applicable in all states. This fee covers loan processing and other expenses associated with establishing and administering the loan reserve. Policy loans are available only under certain types of qualified policies.

**Underlying Fund Portfolio Fees and Expenses** 

The value of the assets in each Subaccount will reflect the fees and expenses paid by the underlying Fund Portfolios. The lowest and highest Underlying Fund Portfolio expenses for the previous calendar year are found in <u>ANNUITY POLICY FEE TABLE AND EXPENSE EXAMPLES</u> in this prospectus. See the prospectuses for the Underlying Fund Portfolios for more information.

**Reduced Fees and Charges** 

We may, at our discretion, reduce or eliminate certain fees and charges for certain policies (including employer-sponsored savings plans) which may result in decreased costs and expenses.

**Systematic Withdrawal**. During any Policy year, You may make systematic withdrawals on a monthly, quarterly, semi-annual or annual basis without paying withdrawal charges. Systematic withdrawals must be at least $40. The amount of the systematic withdrawal may not exceed 10% of the Annuity Value at the time the withdrawal is made, divided by the number of withdrawals made per calendar year. We reserve the right to discontinue systematic withdrawals if any withdrawal would reduce Your Annuity Value below $5,000.

You may elect to begin or discontinue systematic withdrawals at any time. However, we must receive written notice at least 30 days prior to the date systematic withdrawals are to be discontinued. (Additional limitations apply. *See* <u>Systematic Withdrawals</u>.)

**Nursing Care Facility Waiver**. If Your <u>Policy</u> contains a nursing care facility waiver, we will waive the withdrawal charge, provided:

● You have been confined to a nursing care facility for 30 consecutive days or longer;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

● Your confinement began after the <u>Policy Date</u>; and

● You provide us with written evidence of Your confinement within two months after Your confinement ends.

We will waive the withdrawal charge under this waiver only for withdrawals and complete Surrenders made during Your confinement or within two months after Your confinement ends.

There is no restriction on the maximum amount You may withdraw under this benefit.

The Nursing Care Facility Waiver may vary for certain policies and may not be available for all policies, in all states or at all times.

**Revenue We Receive** 

This prospectus describes generally the payments that we (and/or our affiliates) may directly or indirectly receive from the Underlying Fund Portfolios, their advisers, sub-advisers, distributors or affiliates thereof, in connection with certain administrative, marketing and other support services we (and/or our affiliates) provide and expenses we incur in offering and selling our variable insurance products. These arrangements are described further below. While only certain of the types of payments described below may be made in connection with Your particular Policy, all such payments may nonetheless influence or impact actions we (and/or our affiliates) take, and recommendations we (and our affiliates) make, regarding each of the variable insurance products that we (and our affiliates) offer, including Your Policy.

We (and/or our affiliates) may receive some or all of the following types of payments:

***● Rule 12b-1 Fees.*** We and/or our affiliate, Transamerica Capital, LLC ("TCL") who is the principal underwriter for the policies, indirectly receive 12b-1 fees from certain Underlying Fund Portfolios available as investment choices under our variable insurance products. Any 12b-1 fees received by TCL that are attributable to our variable insurance products are then credited to us as an administrative expense. These fees range from 0.00% to 0.50% of the average daily assets of those Underlying Fund Portfolios that are attributable to the policies and to certain other variable insurance products that we and our affiliates issue. These fees are paid from the Underlying Fund Portfolios assets. Policy Owners through their indirect investment in the Underlying Fund Portfolios, bear the cost of 12b-1 fees (see the prospectuses for the underlying funds for more information).

***● Administrative, Marketing and Support Service Fees ("Support Fees").*** As noted above, an investment adviser, sub-adviser, administrator and/or distributor (or affiliates thereof) of the Underlying Fund Portfolios may make payments to us and/or our affiliates, including TCL. These payments may be derived, in whole or in part, from the profits the investment adviser or sub-adviser realized on the advisory fee deducted from Underlying Fund Portfolio assets. Policy Owners, through their indirect investment in the Underlying Fund Portfolios, bear the costs of these advisory fees (see the prospectuses for the underlying funds for more information). However, amounts paid from an investment adviser's or sub-adviser's (or other service provider's) revenues are not paid from the underlying portfolio's assets. The amount of the payments we (or our affiliates) receive is generally based on a percentage of the assets of the particular Underlying Fund Portfolios attributable to the Policy and to certain other variable insurance products that our affiliates and we issue. These percentages differ and the amounts may be significant. Some advisers or sub-advisers (or other affiliates) pay us more than others.

The following chart provides the maximum combined percentages of Support Fees and Underlying Fund Portfolio fees (i.e. sub-transfer agent, Rule 12b-1, and Shareholder Services) that we anticipate will be paid to us on an annual basis.

**Please Note**: Some of the underlying funds listed in the chart below may not currently be available under Your Policy:

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| | |
|:---|:---|
| **Incoming Payments to the Company and/or TCL** | **Incoming Payments to the Company and/or TCL** |
| **Underlying Fund Portfolio** | **Maximum Fee % of assets** |
| TRANSAMERICA SERIES TRUST ("TST") | &nbsp;&nbsp; 0.25% |
| PROFUNDS | &nbsp;&nbsp; 0.50% |
| FIDELITY<sup>®</sup> VARIABLE INSURANCE PRODUCTS FUND | &nbsp;&nbsp; 0.395% |

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**NOTES TO INCOMING PAYMENTS TABLE:** 

<u>Maximum Fee % of Assets</u>: Payments are based on a percentage of the average assets of each Underlying Fund Portfolio owned by the Subaccounts available under this Policy and under certain other variable insurance products offered by our affiliates and us. We and/or TCL may continue to receive 12b-1 fees and administrative fees on assets that invest in Subaccounts that are closed to new Premium Payments, depending on the terms of the agreements supporting those payments and on the services provided.

<u>TST</u>: Because TST is managed by TAM, an affiliate of ours, there are additional benefits to us and our affiliates for amounts You allocate to the TST Underlying Fund Portfolios, in terms of our and our affiliates' overall profitability. These additional benefits may be significant. Payments or other benefits may be received from TAM. Such payments or benefits may be entered into for a variety of purposes, such as to allocate resources to us and

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to provide administrative services to the policyholders who invest in Subaccounts that invest in the TST Underlying Fund Portfolios. These payments or benefits may take the form of internal credits, recognition, or cash payments. A variety of financial and accounting methods may be used to allocate resources and profits to us. Additionally, if a TST portfolio is sub-advised by an entity that is affiliated with us, we may retain more revenue than on those TST portfolios that are sub-advised by non-affiliated entities.

During 2025 we received approximately $158.9 million in benefits from TAM pursuant to these arrangements. This includes the 0.25% amount in the above chart. We anticipate that the amounts will decline in 2026.

<u>Fidelity</u><sup>®</sup> <u>Variable Insurance Products Fund</u>: We receive this percentage once $100 million in shares are held by the Subaccounts of the Company and its affiliates.

***Other Payments.*** We and our affiliates, including TCL and Transamerica Financial Advisors, Inc. ("TFA"), also directly or indirectly receives additional amounts or different percentages of assets under management from certain advisers and sub-advisers to the Underlying Fund Portfolios (or their affiliates) with regard to variable insurance products and/or mutual funds that are issued by us and our affiliates. These amounts may be derived, in whole or in part, from the profits the investment adviser or sub-adviser receives from the advisory fee deducted from Underlying Fund Portfolio assets. Owners, through their indirect investment in the Underlying Fund Portfolios, bear the costs of these advisory fees. Certain advisers and sub-advisers of the <u>Underlying Fund Portfolios</u> (or their affiliates):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● may each directly or indirectly pay TCL conference sponsorship or marketing allowance payments that provides such advisers and sub-advisers with access to TCL's wholesalers at TCL's national and regional sales conferences as well as internal and external meetings and events that are attended by TCL's wholesalers and/or other TCL employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● may pay TFA varying amounts to obtain access to TFA's wholesaling and selling representatives;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● may provide us and/or certain affiliates and/or selling firms with occasional gifts, meals, tickets or other compensation as an incentive to market the Underlying Fund Portfolios and to assist with their promotional effort; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● may reimburse our affiliated selling firms for exhibit booths and other items at national conferences of selling representatives. The amounts may be significant and provide the adviser or sub-adviser (or other affiliates) with increased access to us and to our affiliates involved in the distribution of the Policy.

For the calendar year ended December 31, 2024, TCL and its affiliates did not receive any payments to participate in TCL sponsored events.

Please note some of the aforementioned managers and/or sub-advisers may not be associated with Underlying Fund Portfolios currently available in this product.

Proceeds from certain of these payments by the Underlying Fund Portfolios, the advisers, the sub-advisers and/or their affiliates may be used for any corporate purpose, including payment of expenses (1) that we and our affiliates incur in promoting, marketing, and administering the Policy, and (2) that we incur, in our role as intermediary, in promoting, marketing, and administering the Underlying Fund Portfolios. We and our affiliates may profit from these payments.

For further details about the compensation payments we make in connection with the sale of the policies, *see* <u>OTHER INFORMATION - Distribution of the Policies</u> in this prospectus.

**general description of the policy** 

**Ownership** 

You, as <u>Owner</u> of the Policy, exercise all rights under the Policy, including the right to transfer ownership (subject to any assignee or irrevocable Beneficiary's consent). You can generally change the Owner at any time by notifying us in writing at our <u>Administrative Office</u> in good order. If we do not have an originating signature or guaranteed signature on file or if the Company suspects fraud, we may require a notarized signature. There may be limitations on Your ability to change the ownership of a qualified Policy. An ownership change may be a taxable event.

**Annuitant** 

The <u>Annuitant</u> is the person named in the application to receive annuity payments. If no person is named, the Owner will be the Annuitant. As of the Maturity Date, and upon our agreement, the Owner may change the Annuitant or, if either annuity payment Option C or Option E has been selected, add a joint Annuitant. On the Maturity Date, the Annuitant(s) will become the payee(s) and receive the annuity payments.

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**Beneficiary** 

A <u>Beneficiary</u> is the person who receives the death benefit when an Owner who is also the Annuitant dies. You may change Beneficiary(ies) during the lifetime of the Annuitant, subject to the rights of any irrevocable Beneficiary. Any change must be made in writing and received by us at our Administrative Office in good order. Before the Maturity Date, if an Owner who is the Annuitant dies, and no Beneficiary is alive on the <u>[Death Report Day](#deathreport)</u>, benefits payable at death will be paid to the Owner's estate. In the case of certain qualified policies, the Treasury Regulations prescribe certain limitations on the designation of a Beneficiary.

**Assignment** 

You can also generally assign the Policy any time during Your lifetime. We reserve the right, except to the extent prohibited by applicable laws, regulations, or actions of the state insurance commissioner, to require that an assignment will be effective only upon acceptance by us, and to refuse assignments or transfers at any time on a non-discriminatory basis. We will not be liable for any payment or other action we take in accordance with the Policy before we approve the assignment. There may be limitations on Your ability to assign a qualified Policy and such assignments may be subject to tax penalties and taxed as distributions under the <u>[Code](#code)</u>. An assignment may have tax consequences.

**Termination for Low Value** 

If a withdrawal or fee (including an optional rider fee, administrative fee, or Owner transaction fee) reduces Your <u>Cash Value</u> below the minimum specified in Your <u>Policy</u>, we reserve the right to terminate Your Policy and send You a full distribution of Your remaining Cash Value. All benefits associated with Your annuity Policy will be terminated. Federal law may impose restrictions on our right to terminate certain qualified policies. We do not currently anticipate exercising this right if You have certain optional benefits, however, we reserve the right to do so. For all other policies, including policies with certain other optional benefits, we intend to exercise this termination provision.

**Certain Offers** 

From time to time, we have (and we may again) offered You some form of payment or incentive in return for terminating or modifying certain guaranteed benefits.

When we make an offer, we may vary the offer amount, up or down, among the same group of Policy Owners based on certain criteria such as account value, the difference between account value and any applicable benefit base, investment allocations and the amount and type of withdrawals taken. For example, for guaranteed benefits that have benefit bases that can be reduced on either a pro rata or dollar-for-dollar basis depending on the amount of withdrawals taken, we may consider whether You have taken any withdrawal that has caused a pro rata reduction in Your benefit base, as opposed to a dollar-for-dollar reduction. Also, we may increase or decrease offer amounts from offer to offer. In other words, we may make an offer to a group of Policy Owners based on an offer amount, and, in the future, make another offer based on a higher or lower offer amount to the remaining Policy Owners in the same group.

If You accept an offer that requires You to terminate a guaranteed benefit and You retain Your Policy, we will no longer charge You for the benefit, and You will not be eligible for any future offers related to that type of guaranteed benefit, even if such future offer would have included a greater offer amount or different payment or incentive.

We may also make an offer to You to exchange an existing rider for a different rider.

**Exchanges and/or Reinstatements** 

You can generally exchange a nonqualified annuity Policy for another in a "tax-free exchange" under Section 1035 of the Internal Revenue Code or transfer qualified policies directly to another life insurance company as a "trustee-to-trustee transfer". Before making an exchange or transfer, <u>You</u> should compare both annuities carefully. Remember that if You exchange or transfer another annuity for the one described in this prospectus, then You may pay a surrender charge on the other annuity, and there may be a new withdrawal charge period under this annuity and other charges may be higher (or lower) and the benefits under this annuity may be different. You should not exchange or transfer another annuity for this one unless You determine, after knowing all the facts, that the exchange or transfer is in Your best interest and not just better for the person trying to sell You this Policy (that person will generally earn a commission if You buy this Policy through an exchange, transfer or otherwise).

You may ask us to reinstate Your Policy after such an exchange, transfer, withdrawal or <u>Surrender</u> and in certain limited circumstances we will allow You to do so by returning the same total dollar amount of funds distributed to the applicable <u>Investment Options</u>. The dollar amount will be used to purchase new accumulation units at the then current price. In the event any Subaccount previously invested in is closed and we don't receive additional instructions, funds will be reallocated to the remaining available Investment

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Options according to the investment allocation instructions You previously provided. Because of changes in market value, Your new accumulation units may be worth more or less than the units You previously owned. Generally for non-qualified annuity reinstatements, unless You return the original company check, if a portion of the prior withdrawal was taxable, we are required to report the taxable amount from the distribution even though the funds have been reinstated. The cost basis will be adjusted accordingly. The taxable amount will be reported on Form 1099-R which You will receive in January of the year following the distribution. Qualified annuity reinstatements may be subject to the same tax reporting requirements. We recommend that You consult a tax professional to explain the possible tax consequences of reinstatements.

**ACCESS TO YOUR MONEY** 

**Withdrawals and Surrenders** 

During the <u>Accumulation Period</u>, You can have access to the money in Your Policy by making either a withdrawal or complete Surrender. If You want to Surrender Your Policy completely, You will receive Your Cash Value, which equals the <u>Annuity Value</u> of Your Policy minus:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● any withdrawal charges;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● any premium taxes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● any unpaid accrued interest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● any loans;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the annual Policy charge;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● any optional rider fees, if applicable; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the GMIB fee, if applicable *see* <u>Optional Benefit Riders</u>.

The <u>Cash Value</u> will be determined at the Accumulation Unit Value next determined as of the end of the business day (usually 4:00 p.m. Eastern Time) on which we receive Your request for withdrawal or complete <u>Surrender</u> at our Administrative Office in good order, unless You specify a later date in Your request.

**Please note**: All withdrawal requests must be submitted in good order to avoid a delay in processing Your request.

No withdrawal is permitted if the withdrawal would reduce the Cash Value below $5,000. You may not make withdrawals from the <u>Fixed Account</u> unless we consent. Unless You tell us otherwise, we will take the withdrawal from each of the investment choices in proportion to the Annuity Value.

Remember that any Withdrawal You take will reduce the Annuity Value and also may have a negative impact on certain benefits and guarantees of Your Policy. Under some circumstances, a Withdrawal will reduce the death benefit by more than the dollar amount of the Withdrawal. *See* <u>DEATH BENEFIT</u>, and the SAI for more details.

Income taxes, federal tax penalties and certain restrictions may apply to any withdrawals or any complete Surrender You make. If Your Policy was issued pursuant to a 403(b) plan, we generally are required to confirm, with Your 403(b) plan sponsor or otherwise, that withdrawals or transfers You request comply with applicable tax requirements and to decline requests that are not in compliance. We will defer such payments You request until all information required under the tax law has been received. By requesting a withdrawal or transfer, You consent to the sharing of confidential information about You, the Policy, and transactions under the Policy and any other 403(b) policies or accounts You have under the 403(b) plan among us, Your employer or plan sponsor, any plan administrator or recordkeeper, and other product providers.

We must receive at our Administrative Office in good order a properly completed Withdrawal request by mail or fax. We will accept telephone requests for Withdrawals as long as the Withdrawal proceeds are being sent to the address of record. The maximum Withdrawal amount You may request by telephone is under $50,000.

When we incur extraordinary expenses, such as wire transfers or overnight mail expenses, for expediting delivery of Your Withdrawal or complete Surrender payment, we will deduct that charge from the payment. We charge $25 for a wire transfer and $20 for an overnight delivery.

If the Policy's <u>Owner</u> is not an individual, additional information may be required. If You own a qualified Policy, the <u>Code</u> may require Your spouse to consent to any Withdrawal. Other restrictions will apply to Section 403(b) qualified policies and Texas Optional Retirement Program policies. For more information, call us at (800)851-9777 (Monday - Friday 8:30 a.m. - 7:00 p.m. Eastern Time).

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**Delay of Payment and Transfer** 

Payment of any amount due from the Separate Account for a Withdrawal, a complete Surrender, a death benefit, loans or on the death of an Owner of a nonqualified Policy, will generally occur within seven days from the date we receive in good order all required information at our Administrative Office. We may be permitted to defer such payment from the Separate Account if:

● the New York Stock Exchange is closed other than for usual weekends or holidays or trading on the NYSE is otherwise restricted; or

● an emergency exists as defined by the SEC or the SEC requires that trading be restricted; or

● the SEC permits a delay for the protection of Owners.

Transfers of amounts from the <u>Subaccounts</u> also may be deferred under these circumstances. In addition, if, pursuant to SEC rules, the Transamerica BlackRock Government Money Market VP portfolio (or any money market portfolio offered under this Policy) suspends payment of redemption proceeds in connection with a liquidation of the portfolio, then we may delay payment of any transfer, Surrender, Withdrawal, loan, or death benefit from the TA BlackRock Government Money Market Subaccount until the portfolio is liquidated.

Pursuant to the requirements of certain state laws, we reserve the right to defer payment of transfers, Withdrawals, death benefits and loan amounts from the Fixed Account for up to six months.

If mandated under applicable law or by regulation, we may be required to reject a <u>Purchase Payment</u>. We may be required to provide additional information about You or Your account to governmental regulators. In addition, we may be required to block a Policy Owner's account and thereby refuse to pay any request for transfers, Withdrawals, loans, annuity payments, or death benefits until instructions are received from the appropriate regulators.

**Systematic Withdrawals** 

During the Accumulation Period, <u>You</u> can elect to receive regular payments from Your <u>Policy</u>, up to the amount permitted under the terms of Your Policy, without paying Withdrawal charges by using systematic Withdrawals. Unless You specify otherwise, we will deduct systematic Withdrawal amounts from each Subaccount (and, if we consent, the Fixed Account) in proportion to the value each Subaccount bears to the Annuity Value at the time of the Withdrawal. You can partially withdraw up to 10% of Your Annuity Value annually in equal monthly, quarterly, semi-annual or annual payments of at least $40. Your Annuity Value must equal at least $25,000. We will not process a systematic Withdrawal if the Annuity Value for the entire Policy would be reduced below $5,000. No systematic withdrawals are permitted from the <u>Fixed Account</u> without our prior consent.

There is no charge for taking systematic Withdrawals. You may stop systematic Withdrawals at any time. We reserve the right to discontinue offering systematic Withdrawals 30 days after we send You written notice.

**You can take systematic Withdrawals during the Accumulation Period only. On the Maturity Date, You must Annuitize the Policy and systematic Withdrawal payments must stop.** 

Income taxes, federal tax penalties and other restrictions may apply to any systematic Withdrawal You receive.

**Signature Guarantee** 

As a protection against fraud, we require a signature guarantee (i.e., Medallion Signature Guarantee as required by us) for the following transaction requests:

● Any Withdrawal over $250,000 unless it is a custodial owned annuity;

● Any non-electronic disbursement request made on or within 15 days of a change to the address of record for a Policy Owner's account;

● Any electronic fund transfer instruction changes on or within 15 days of an address change;

● Any Withdrawal when we have been directed to send proceeds to a different personal address from the address of record for that contract Owner's account. **PLEASE NOTE:** This requirement will not apply to requests made in connection with exchanges of one annuity for another with the same Owner in a "tax-free exchange";

● Any Withdrawal when we do not have an originating or guaranteed signature on file unless it is a custodial owned annuity;

● Any other transaction we require.

We may change the specific requirements listed above, or add signature guarantees in other circumstances, at our discretion if we deem it necessary or appropriate to help protect against fraud. For current requirements, please refer to the requirements listed on the appropriate form or call us at (800)851-9777.

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You can obtain a Medallion signature guarantee from more than 7,000 financial institutions across the United States and Canada that participate in a Medallion signature guarantee program. The best source of a Medallion signature guarantee is a bank, savings and loan association, brokerage firm, or credit union with which You do business. **A notary public cannot provide a Medallion signature guarantee. Notarization will not substitute for a Medallion signature guarantee when required.**

**ANNUITY PAYMENTS (THE INCOME PHASE)** 

You can generally change the <u>Maturity Date</u> by giving us 30 days notice with the new date or Age. Unless required by state law, the Maturity Date cannot be earlier than the end of the fifth Policy year. The latest Maturity Date generally cannot be after the date specified in Your Policy unless a later date is agreed to by us.

<u>Election of Annuity Payment Option</u>. Before the Maturity Date, if the <u>Annuitant</u> is alive, You may choose an annuity payment option or change Your option. If You do not choose an annuity option by the Maturity Date, we will make payments under Option D (see below) as a Variable Life Income with 10 years of guaranteed payments subject to certain exceptions for qualified policies. You cannot change the annuity payment option after the Maturity Date.

If You choose a variable payment option, You must specify how You want the annuity proceeds divided among the Subaccounts as of the Maturity Date. If You do not specify, we will allocate the annuity proceeds in the same proportion as the <u>Annuity Value</u> is allocated among the <u>Investment Option</u> available on the Maturity Date. Any portion of the annuity proceeds in the Fixed Account will not be used to purchase variable annuity units and will be allocated to a fixed payout. After the Maturity Date, You may make transfers among the Subaccounts, but You may not make transfers from or to the Fixed Account; we may limit Subaccount transfers to one per Policy year.

As of the Maturity Date and so long as we agree, You may elect a different Annuitant or add a joint Annuitant who will be a joint payee under a joint and survivor life income payment option. If You do not choose an Annuitant, we will consider You to be the Annuitant.

**Supplemental Policy**. Once You <u>Annuitize</u> and if You have selected a fixed annuity payment option, the <u>Policy</u> will end and we will issue a supplemental Policy to describe the terms of the option You selected. The supplemental Policy will name who will receive the annuity payments and describe when the annuity payments will be made.

Your Policy may not be "partially" Annuitized, *i.e.*, You may not apply a portion of Your Policy value to an annuity option while keeping the remainder of Your Policy <u>In Force</u>.

**Annuity Payment Options Under the Policy** 

The Policy provides several annuity payment options that are described below. You may choose any annuity payment option available under Your Policy. You can choose to receive payments monthly, quarterly, semi-annually or annually.

We will use <u>Your</u> "annuity proceeds" to provide these payments. The "annuity proceeds" is Your Annuity Value on the Maturity Date, less any premium tax that may apply. If Your annuity payment would be less than $20, then we will pay You the annuity proceeds in one lump sum.

<u>Fixed Annuity Income Payments</u>. If You choose annuity payment Option A, B or C, the dollar amount of each annuity payment will be fixed on the Maturity Date and guaranteed by us. The payment amount will generally depend on the following:

● the amount of the annuity proceeds on the Maturity Date;

● the interest rate we credit on those amounts; and

● the specific payment option You choose.

<u>Variable Annuity Income Payments</u>. If You choose variable annuity payment Option D or E, the dollar amount of the first variable payment will be determined in accordance with the annuity payment rates set forth in the applicable table contained in the Policy. The dollar amount of each additional variable payment will vary based on the investment performance of the Subaccount(s) You invest in and the Policy's assumed investment return of 5%. The dollar amount of each variable payment after the first may increase, decrease or remain constant. If, after all charges are deducted, the actual investment performance exactly matches the Policy's assumed investment return of 5% at all times, then the dollar amount of the next variable annuity payment would remain the same. If actual investment performance, after all charges are deducted, exceeds the assumed investment return, then the dollar amount of the variable annuity payments would increase. But, if actual investment performance, less charges, is lower than the 5% assumed investment return, then the dollar amount of the variable annuity payments would decrease. The portfolio in which You are invested must grow at a rate at least equal to the 5% assumed investment return (plus the mortality and expense risk charge of 1.25% annually and the administrative charge of 0.15% annually) in order to avoid a decrease in the dollar amount of variable annuity payments. For more

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information on how variable annuity income payments are determined, *see* the SAI. If You elect a variable annuity payment option, we deduct a daily mortality and expense risk charge of 1.25% annually and an administrative charge at 0.15% annually from Your Subaccount assets.

The annuity payment options are explained below. Some of the annuity payment options may not be available for all policies, all Ages, or in all states. Options A, B, and C are fixed only. Options D and E are variable only.

**Fixed Annuity Payment Options** 

<u>Payment Option A</u> <u>– Fixed Installments</u>. We will pay the annuity in equal payments over a fixed period of 5, 10, 15 or 20 years or any other fixed period acceptable to us.

If Your Policy is a qualified Policy, payment option A may not satisfy minimum required distribution rules. Consult a financial professional before electing that payment option.

<u>Payment Option B</u> <u>– Life Income Fixed Payments</u>.

● **No Period Certain**: We will make level payments only during the <u>Annuitant's</u> lifetime; or

● **10 Years Certain**: We will make level payments for the longer of the Annuitant's lifetime or 10 years; or

● **Guaranteed Return of Annuity Proceeds**: We will make level payments for the longer of the Annuitant's lifetime or until the total dollar amount of payments we made to You equals the annuity proceeds.

<u>Payment Option C</u> <u>– Joint and Survivor Life Income: Fixed Payments</u>. We will make level payments during the joint lifetime of the Annuitant and a joint Annuitant of Your choice. Payments will be made as long as either person is living.

For more information on how the fixed annuity payments are determined, *see* the SAI.

**Variable Annuity Payment Options** 

<u>Payment Option D</u> <u>– Variable Life Income</u>. The annuity proceeds are used to purchase variable annuity units in the Subaccounts You select. You may choose between:

● **No Period Certain**: We will make variable payments only during the Annuitant's lifetime; or

● **10 Years Certain**: We will make variable payments for the longer of the Annuitant's lifetime or 10 years.

<u>Payment Option E</u> <u>– Variable Joint and Survivor Life Income</u>. We will make variable payments during the joint lifetime of the Annuitant and a joint Annuitant of Your choice. Payments will be made as long as either person is living.

Other annuity payment options may be arranged by agreement with us. The death benefit payable after the <u>Maturity Date</u> will be affected by the annuity option You choose.

**NOTE CAREFULLY** 

**IF:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **You choose Life Income with No Period Certain or a Joint and Survivor Life Income (fixed or variable); and** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **the Annuitant(s) dies for example, before the due date of the second annuity payment;** 

**THEN:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **we may make only one annuity payment and there will be no death benefit payable.** 

**IF:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **You choose Fixed Installments, Life Income with 10 Years Certain, Life Income with Guaranteed Return of Annuity Proceeds, or Variable Life Income with 10 Years Certain; and** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **the person receiving payments dies prior to the end of the guaranteed period;** 

**THEN:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **the remaining guaranteed payments will be continued to that person's Beneficiary, or their value (determined at the date of death) may be paid in a single sum.** 

We will not pay interest on amounts represented by uncashed annuity payment checks if the postal or other delivery service is unable to deliver checks to the Annuitant's address of record. The Annuitant is responsible for keeping us informed of the Annuitant's current address of record.

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**Benefits Available Under the Policy** 

The following table summarizes information about the benefits available under the Policy.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Name of Benefit** | **Purpose** | **Standard**<br> **or**<br> **Optional**<br>| **Maximum**<br> **Annual Fee**<br>| **Brief Description of**<br> **Restrictions/Limitations**<br>|
| **"Base Policy" Death** <br> **Benefit**<br>| Pays base death benefit before <br> <u>Maturity Date</u> or after Maturity <br> Date.<br>| Standard | No Charge | &nbsp;&nbsp;&nbsp; ●Amount of death benefit will <br> be determined upon <br> notification and proof of <br> Annuitant's death at our <br> Administrative Office.<br>|
| **Additional Earnings** <br> **Rider**<br>| Will pay an additional amount <br> to the Owner who is the <br> <u>Annuitant</u> upon death and <br> death benefit proceeds are paid <br> out.<br>| Optional <br> (No longer <br> offered)<br>| 0.35% as a <br> percentage of the <br> Policy's Annuity <br> Value<br>| &nbsp;&nbsp;&nbsp; ●This rider is no longer <br> available.<br> ●Was available for Annuitant <br> issue Ages 0-75.<br> ●A rider amount will be paid <br> out if: (1) the rider is In Force <br> at the time of death, (2) death <br> benefit proceeds are payable <br> under the <u>Policy</u> and (3) there <br> are rider earnings when the <br> death benefit proceeds are <br> calculated.<br> ●Maximum Additional <br> Earnings Rider Amount that <br> will be paid is $1 million.<br> ●The rider will be terminated <br> when we receive Your written <br> cancellation notice at our <br> Administrative Office, upon <br> Policy Surrender or <br> <u>Annuitization</u> or when the <br> Rider Amount is paid, or <br> added to the Annuity Value <br> under a continuation.<br> ●May not be available in all <br> states.<br>|
| **Nursing Care Facility** <br> **Waiver**<br>| Waives Surrender Charges if <br> <u>You</u> are confined to a nursing <br> care facility.<br>| Standard | No charge | &nbsp;&nbsp;&nbsp; ●No restriction on maximum <br> amount You may withdraw.<br> ●Qualifying conditions related <br> to nursing home stay.<br> ●May not be available in all <br> states.<br>|

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| | | | | |
|:---|:---|:---|:---|:---|
| **Name of Benefit** | **Purpose** | **Standard**<br> **or**<br> **Optional**<br>| **Maximum**<br> **Annual Fee**<br>| **Brief Description of**<br> **Restrictions/Limitations**<br>|
| **Dollar Cost Averaging** <br> **Program**<br>| Allows You to automatically <br> make transfers into one or more <br> <u>Subaccounts</u>.<br>| Standard | No charge | &nbsp;&nbsp;&nbsp; ●Traditional – A minimum of <br> $500 per transfer is required.<br> ●Minimum and maximum <br> number of transfers.<br> ●Special – Limited to six <br> month or twelve-month <br> transfer program and only <br> available for new Purchase <br> Payments.<br> ●May not be available in all <br> states.<br>|
| **Asset Rebalancing** | Automatically rebalances the <br> amounts in Your Subaccounts <br> to maintain Your desired asset <br> allocation percentages.<br>| Standard | No charge | &nbsp;&nbsp;&nbsp; ●Does not include any <br> amounts allocated to the <br> Fixed Account.<br> ●Minimum Annuity Value of <br> $10,000 is required.<br>|
| **Systematic** <br> **Withdrawals**<br>| Provides monthly, quarterly, <br> semi-annual or annual <br> withdrawals.<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; ●Subject to $40 minimum <br> withdrawals.<br> ●Withdrawals can be made on <br> monthly, quarterly, <br> semi-annual or annual basis.<br> ●We reserve the right to <br> discontinue withdrawals if <br> any withdrawal reduces Your <br> Annuity Value below $5,000.<br>|
| **Guaranteed Minimum** <br> **Income Benefit**<br>| Assures You of a minimum level <br> of income in the future by <br> guaranteeing a minimum <br> Annuitization value.<br>| Optional <br> (No longer <br> offered)<br>| **Current** = 0.45%.<br> **Maximum** = 0.50%.<br>| &nbsp;&nbsp;&nbsp; ●This rider is no longer <br> available.<br> ●Was available for Annuitant <br> issue Ages 0-85.<br> ●You can Annuitize if rider is <br> held for 10 years without any <br> restrictions.<br> ●Provides an annual growth <br> rate of 6% per year which we <br> can change at our discretion. <br> Will never be less than 3% <br> per year.<br> ●Offers fixed and variable <br> annuity payment options.<br> ●May not be available in all <br> states.<br>|

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**DEATH BENEFIT** 

**Payments on Death** 

We will pay a death benefit to Your Beneficiary(ies), under certain circumstances, if, if You are both the Owner and the Annuitant, and You die during the <u>Accumulation Period</u> (that is before the Maturity Date). A <u>Beneficiary</u> may choose to receive payment of his or her portion of the death benefit proceeds under a life annuity payment option, to continue the Policy in the Accumulation Period for a specified number of years, or to receive a lump sum payment. Death benefit provisions may vary from state to state. The guarantees of these death benefits are based on our claims paying ability.

We will determine the amount of and process the death benefit proceeds, if any are payable on a <u>Policy</u>, upon receipt at our <u>Administrative Office</u> of satisfactory proof of the Annuitant's death, directions regarding how to process the death benefit, and any other documents, forms and information that we need (collectively referred to as "due proof of death"). For policies with multiple Beneficiaries, we will process the death benefit when the first Beneficiary provides us with due proof of their share of the death proceeds. We will not pay any remaining Beneficiary their share until we receive due proof of death from that Beneficiary. Such Beneficiaries continue to bear the investment risk until they submit due proof of death. Please note, we may be required to remit the death benefit proceeds to a state prior to receiving "due proof of death." *See* <u>OTHER INFORMATION - Abandoned or Unclaimed Property</u>.

**Please Note**: Such due proof of death must be received in good order to avoid a delay in processing the death benefit claim. *See* <u>Sending Forms and Transaction Requests in Good Order</u>.

Payments upon death are subject to certain distribution requirements under the Code.

The death benefit proceeds remain invested in the <u>Separate Account</u> in accordance with the allocations made by the Policy Owner until the Beneficiary has provided us with due proof of death. Once we receive due proof of death, then investments in the Separate Account may be reallocated in accordance with the Beneficiary's instructions.

We may permit the Beneficiary to give a "one-time" written instruction to reallocate the investments in the Separate Account to the money market fund after the death of the <u>Annuitant</u>. If there is more than one Beneficiary, all Beneficiaries must agree to the reallocation instructions. This one-time reallocation will be permitted if the Beneficiary provides satisfactory evidence of the Annuitant's death.

<u>Before the Maturity Date</u>. Payment of the death benefit proceeds depends on the status of the person who dies, as follows:

**IF:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **an Owner and the Annuitant ARE the same person and that person dies;** 

**THEN:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **we pay the death benefit proceeds to the Beneficiaries, if alive, and in some cases, reset the death benefit.** <sup>(1)(2)(4)(5)</sup> **If the sole Beneficiary is the surviving spouse of the Owner, he or she, if eligible, may continue the Policy with a reset death benefit and the Annuity Value adjusted to equal the death benefit proceeds.**<sup>(3)</sup>

**IF:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **the surviving spouse who continued the Policy dies;** 

**THEN:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **we pay the death benefit proceeds to the Beneficiaries, if alive,**<sup>(1)(2)(3)(4)(5)(6)(7)</sup> **otherwise to the estate of the surviving spouse.** 

**IF:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **an Owner and an Annuitant ARE NOT the same person, and an Annuitant dies first;** 

**THEN:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **An Owner becomes the Annuitant and the Policy continues.** 

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**IF:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **an Owner and an Annuitant ARE NOT the same person, and an Owner dies first;** 

**THEN:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **If no <u>[Successor Owner](#succowner)</u> is named and alive, the Owner's estate will become the new Owner. The Cash Value must be distributed within five years of the former Owner's death; or** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **If the Successor Owner is alive and is the Owner's spouse, the Policy will continue with the spouse as the new Owner; or** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **If the Successor Owner is alive and is not the Owner's spouse, the Successor Owner will become the new Owner. The Policy value must be distributed either:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **within 5 years of the former Owner's death; or** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **over the lifetime of the new Owner, if a natural person, with payments beginning within one year of the former Owner's death; or** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **over a period that does not exceed the life expectancy (as defined by the Internal Revenue Code and Regulations adopted under the Code) of the new Owner, if a natural person, with payments beginning within one year of the former Owner's death.** 

<sup>(1)</sup> The Code requires that payment to the Beneficiaries or Successor Owners be made in a certain manner and within certain strict timeframes. We discuss these time-limitations in <u>Alternate Payment Elections before the Maturity Date</u> below.

<sup>(2)</sup> If no Beneficiary is alive on the <u>Death Report Day</u>, then the death benefit proceeds are paid to an Owner's estate. If the sole Beneficiary was living on an Owner's date of death, but died before the Death Report Day, the death benefit is paid to the Owner's estate, not to the Beneficiary's estate.

<sup>(3)</sup> If the sole Beneficiary is the deceased Owner/Annuitant's surviving spouse, then the surviving spouse, if eligible, may elect to continue the Policy <u>[In Force](#inforce)</u> as the new Owner and Annuitant. We will adjust the <u>Annuity Value</u> as of the Death Report Day to equal the death benefit proceeds as of the death Report Day, if greater. We will reset the <u>Age</u> used in the death benefit provisions under the continuing Policy as of the Death Report Day so that the death benefit is based on the Age of the surviving spouse. Consequently, the phrase "the Annuitant's 80th birthday" will refer to the Age of the surviving spouse. If the surviving spouse is over Age 81 on the Death Report Day of the first deceased Owner, then we will calculate the death benefit paid on the death of the surviving spouse by taking the highest Annuity Value (i.e., the Annuity Value as of the Death Report Day) and adding any subsequent Purchase Payments and subtracting the total withdrawals following the Death Report Day of the first deceased <u>Owner</u>.

<sup>(4)</sup> If a Beneficiary elects to receive his or her portion of the death benefit proceeds within five years of the date of death of the Annuitant or over a period that does not exceed such Beneficiary's life expectancy (the "distribution period"), then the Policy will continue with some modifications until the end of the elected distribution period. We will adjust the Annuity Value as of the Death Report Day to equal the death benefit proceeds as of the Death Report Day. We will pay a death benefit if such Beneficiary dies during the distribution period, and we will revise the way we calculate the death benefit so that it is based on the Age of such Beneficiary. The Policy will terminate at the end of the distribution period.

<sup>(5)</sup> If there are multiple Beneficiaries, each Beneficiary may elect, individually, how he or she wishes to receive his or her proportionate share of the death benefit proceeds.

<sup>(6)</sup> If the sole primary Beneficiary of the Policy is a revocable grantor trust and the spouse of the Owner/Annuitant is the sole grantor, trustee, and Beneficiary of the trust and the trust is using the spouse of the Owner/Annuitant's social security number at the time of claim, she or he shall be treated as the Owner/Annuitant's spouse. In those circumstances, the Owner/Annuitant's spouse will be treated as the Beneficiary of the Policy for purposes of applying the spousal continuation provisions of the Policy.

<sup>(7)</sup> If the Owner is an individual retirement account within the meaning of IRC sections 408 or 408A, if the Annuitant's spouse is the sole primary Beneficiary of the Annuitant's interest in such account. In those circumstances, the Policy will continue after the Annuitant's death and the Annuitant's spouse will be treated as the Beneficiary of the Policy for purposes of applying the spousal continuation provision of the Policy.

Different rules apply if an Owner, <u>Successor Owner</u> or a Beneficiary is not a natural person. Please consult Your Policy or Your agent for more details.

<u>After the Maturity Date</u>. The death benefit paid after the start of annuity payments depends upon the annuity option You selected. *See* <u>ANNUITY PAYMENTS (THE INCOME PHASE)</u>. Not all payment options provide for a death benefit.

If any Owner dies on or after the start of annuity payments, the remaining portion of any interest in the Policy will be distributed at least as rapidly as under the method of distribution being used as of the date of the Annuitant's death.

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**Amount of Death Benefit Before the Maturity Date** 

Death benefit provisions may differ from state to state. The death benefit proceeds may be paid as a lump sum, as substantially equal payments while the Policy continues in the Accumulation Period for a specified number of years, or as annuity payments, or as otherwise permitted by the Company in accordance with applicable law.

If an Owner who is the Annuitant dies before the <u>Maturity Date</u> and if the death benefit proceeds are payable, the death benefit proceeds will be as follows:

**IF:** 

● **the Owner who is the Annuitant dies during the Accumulation Period and before the eighth Policy Anniversary;** 

**THEN:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **the death benefit proceeds will be the greater of:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **the Cash Value of Your Policy on the Death Report Day; or** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **the total Purchase Payments You make to the Policy, reduced by any withdrawals, credited with 5% on each Policy Anniversary (until the Annuitant turns Age 80), up to a maximum of 200% of total Purchase Payments minus any withdrawals. (Please note that the 5% credit is not available in all states.)** 

**IF:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **the Owner who is the Annuitant dies during the Accumulation Period and after the seventh Policy Anniversary;** 

**THEN:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **the death benefit proceeds will be the greatest of:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **the death benefits described above;** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **the Cash Value of Your Policy on the seventh Policy Anniversary, reduced by any withdrawals after the seventh Policy year;** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **if Your Policy was issued before May 1, 2000, the highest Annuity Value as of any Policy Anniversary occurring between** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)** **the later of May 1, 2000 and the seventh Policy Anniversary; and** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** **the earlier of: the Annuitant's date of death, or the Policy Anniversary nearest the Annuitant's** **80** <sup>th</sup> **birthday. This benefit terminates at Age 80.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **if Your Policy was issued on or after May 1, 2000, the highest Annuity Value as of any Policy Anniversary occurring between the seventh Policy Anniversary and the earlier of:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)** **The Annuitant's date of death; or** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** **The Policy Anniversary nearest the Annuitant's 80** <sup>th</sup> **birthday. This benefit terminates at Age 80.** 

The highest <u>Annuity Value</u> will be increased by Purchase Payments made and decreased by adjusted withdrawals taken since the <u>Policy Anniversary</u> date with the highest Annuity Value. The adjusted withdrawal is equal to (a) times (b) where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is the ratio of the death benefit to the Annuity Value, calculated on the date the withdrawal is processed, but prior to the processing: and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is the amount of the withdrawal.

Note: The <u>Cash Value</u> is the Annuity Value, minus the annual Policy charge, any applicable premium taxes and any withdrawal charges. This means that we will deduct the full withdrawal charge from the death benefit if the <u>Annuitant</u> dies and the death benefit payable is the Policy's Cash Value. We will waive the withdrawal charge if the Beneficiary elects to apply the death benefit to a new variable annuity Policy issued by us.

The death benefit proceeds are reduced by any outstanding Policy loans and premium taxes due.

The death benefit proceeds are not payable after the <u>Maturity Date</u>.

**Guaranteed Minimum Death Benefit Features** 

<u>Additional Benefits with Spousal Continuation</u>. If the Owner who is the Annuitant dies before the Maturity Date, and if the surviving spouse of the deceased Owner is the sole <u>Beneficiary</u>, is eligible, and elects to continue the Policy, then the Policy continues with the surviving spouse as sole Owner and Annuitant. We will increase the Annuity Value of the Policy as of the <u>Death Report Day</u> to equal the death benefit proceeds as of the Death Report Day, if greater. We will pay a death benefit on the death of the surviving spouse and revise the way we calculate the death benefit so that it is based on the Age of the surviving spouse.

------

If an Owner who is <u>not</u> the Annuitant dies before an Annuitant and before the Maturity Date, and if the deceased Owner's surviving spouse is the Successor Owner, the Policy continues with the surviving spouse as the new Owner. However, we will <u>not</u> increase the Annuity Value to equal the death benefit proceeds.

<u>Additional Death Benefit on Beneficiary's Death</u>. If an <u>Owner</u> who is the Annuitant dies before the Maturity Date, and the deceased Owner's spouse is not named as the sole Beneficiary who elects to continue the Policy, then each Beneficiary can elect to keep the Policy in the Accumulation Period (with some restrictions) and to receive his or her portion of the death benefit proceeds over a period not to exceed that Beneficiary's life expectancy (the "distribution period"). We will pay a death benefit if the Beneficiary dies during the distribution period and permit such Beneficiary to name a new Beneficiary. We will revise the way we calculate the additional death benefit so that it is based on the Age of such Beneficiary.

**Alternate Payment Elections Before the Maturity Date** 

If a Beneficiary is entitled to receive the death benefit proceeds, a Beneficiary may elect to receive the death benefit in a lump sum payment or to receive payment under one of the following options that provides for complete distribution and termination of this Policy at the end of the distribution period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. within 5 years of the date of an Owner's death;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. over the Beneficiary's lifetime, with payments beginning within one year of the deceased Owner's death; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. over a specified number of years, not to exceed the Beneficiary's life expectancy, with payments beginning within one year of an Owner's death.

To determine payments, we may use the "account-based" method under which we recalculate the amount of the payment each year by dividing the remaining unpaid proceeds by the Beneficiary's current life expectancy, with payments beginning within one year of the deceased Owner's death.

Different rules may apply if the Policy is a qualified Policy.

Multiple <u>Beneficiaries</u> may choose individually among any of these options.

If the deceased Annuitant was an Owner, and one or more Beneficiaries chooses one of the above options instead of a lump sum payment, we will "reset" the Age used in the death benefit provisions under the new option as of the <u>Death Report Day</u>, so that the death benefit is based on the Age of the particular new Annuitant (*i.e.*, the Beneficiary). As a result, the phrase "the Annuitant's 80th birthday" will refer to the Age of the particular Beneficiary. If the Beneficiary is over Age 81 on the Death Report Day of the first deceased Owner, then we will calculate the death benefit paid on the death of the particular Beneficiary by taking the highest Annuity Value (*i.e.*, the Annuity Value as of the Death Report Day) and adding any subsequent Purchase Payments and subtracting the total Withdrawals following the Death Report Day of the first deceased Owner. This option applies to both spousal and non-spousal Beneficiaries.

If a Beneficiary chooses 1 or 3 above, this <u>Policy</u> remains in effect and remains in the Accumulation Period until it terminates at the end of the elected period. The Beneficiary's proportionate share of the death benefit proceeds becomes the new <u>Annuity Value</u>. If a Beneficiary chooses 2 above, the Policy remains in effect, but moves into the income phase with the Beneficiary receiving payments under a life annuity payout option. Special restrictions apply to options 1 and 3 above. *See* the SAI for more details.

These Alternate Payment Elections do not apply if the sole Beneficiary (or <u>Successor Owner</u>) is the surviving spouse of the deceased Owner and the surviving spouse is eligible to and elected to continue the Policy. These Alternate Payment Elections do apply when we pay the <u>Cash Value</u> to the Successor Owner on the death of an Owner who is not the Annuitant.

**Optional Benefit Riders** 

You may have elected one of the following optional riders previously available for purchase which are no longer available. The following rider sections describes the material features of each of those riders. Please refer to Your personal rider pages and any supplemental mailings for Your specific coverage and features regarding these riders.

**guaranteed minimum income benefit rider (No longer available)** 

The Guaranteed Minimum Income Benefit Rider assures You of a minimum level of income in the future by guaranteeing a "minimum Annuitization value.'' By selecting this rider, You are guaranteed a future minimum level of income under the rider's fixed or variable payment options based on the minimum Annuitization value, regardless of the performance of the underlying investment portfolios. (If You select the Guaranteed Minimum Income Benefit Rider, we may restrict the Subaccounts to which You may allocate <u>Purchase Payments</u> or transfer Annuity Value. Any such restriction will not affect the allocations You made before we put the restriction in place.)

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You may purchase the rider when we issue Your Policy or anytime before the Annuitant's 85th birthday.

You can <u>Annuitize</u> under the rider (subject to the conditions described below) using the greater of the Annuity Value or the minimum Annuitization value. If You Annuitize under the rider before the 10th rider anniversary, the following restrictions will apply:

● You may not Annuitize under the Term Certain fixed annuity payment option;

● we will adjust the Age(s) we use to determine the applicable annuity factors by adjusting them down by one year for each complete year that the rider is short of being <u>In Force</u> for 10 years at the time You Annuitize. This will reduce the amount of Your annuity payments.

*See* <u>Annuity Payment Options Under the Rider</u> and <u>Annuity Factor Age Adjustment</u> below for more information.

<u>Minimum Annuitization Value</u>. If You purchase the rider at issue, the minimum Annuitization value is the Annuity Value on that date. If You purchase the rider at a future date, the minimum Annuitization value would be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the Annuity Value on the date the rider is issued, plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● any additional premiums paid after the rider date, minus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● an adjustment for any withdrawals made after the rider date

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● accumulated at the annual growth rate, plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● any premium taxes.

The annual growth rate is currently 6% per year. For policies issued in a few states, this rate will be less than 6%. We may, at our discretion, change the rate in the future for new riders, including upgrades, but the rate will never be less than 3% per year. Once the rider is added to Your Policy, the annual growth rate, the rider charge, the rider charge waiver threshold, the guaranteed minimum payment fee and the waiting period before You can Annuitize under the rider, without the annuity factor Age adjustment, will not change unless You upgrade the rider. Withdrawals may reduce the minimum Annuitization value on a basis greater than dollar-for-dollar. See <u>Appendix A - Guaranteed Minimum Income Benefit Rider - Hypothetical Illustrations</u> for more information.

The minimum Annuitization value is used solely to calculate the annuity payments and charges under the rider and adjustments to withdrawals. This value does not establish or guarantee an Annuity Value or guarantee performance of any <u>Subaccount</u>. If You choose to Annuitize under the rider, we will use the greater of Your Annuity Value or <u>Your</u> minimum Annuitization value (less any outstanding loan amount and any loan interest You owe) to determine the amount of Your fixed or variable annuity payments under the rider. The minimum Annuitization value may not be used to Annuitize with any of the annuity payment options under the Policy.

<u>Annuity Payment Options Under the Rider</u>. The only payment options available under the rider are the following fixed and variable annuity options:

**Fixed Annuity Payment Options**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● <u>Term Certain</u> – Level payments will be made for 15 years based on a guaranteed interest rate of 3%. This interest rate will not increase even if current interest rates are higher when You Annuitize. This annuity payment option is not available if You Annuitize under the rider before the 10<sup>th</sup> anniversary of rider purchase or later upgrade.

**Variable Annuity Payment Options**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● <u>Life Income</u> - An election may be made for "No Period Certain,'' "10 Years Certain,'' or "Installment Refund.'' Installment Refund is an annuity payment option that guarantees the return of the minimum Annuitization value. The period certain for an installment refund is the shortest period, in months, that guarantees the return of the minimum Annuitization value. Payments will be made as long as the Annuitant is living. In the event of the death of the Annuitant prior to the end of the chosen period certain, the remaining period certain payments will be continued to the Beneficiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● <u>Joint and Full Survivor</u> - An election may be made for "No Period Certain,'' "10 Years Certain,'' or "Installment Refund.'' Payments will be made as long as either the Annuitant or joint Annuitant is living. In the event of the death of both the Annuitant and joint Annuitant prior to the end of the chosen period certain, the remaining period certain payments will be continued to the Beneficiary.

Before You Annuitize under the rider's variable annuity options, You may transfer values from one Subaccount to another. In the future, we may restrict the Subaccounts to which You may transfer <u>Annuity Value</u>. After the Maturity Date, no transfers may be made to or from the <u>Fixed Account</u>, and we reserve the right to limit transfers among the Subaccounts to once per year.

**Note Carefully**: The death benefit payable after You Annuitize under the rider will be affected by the annuity option You choose.

**If:** 

● You choose Life Income with No Period Certain or Joint and Full Survivor with No Period Certain; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

● the Annuitant dies, for examples, before the due date of the second annuity payment,

**Then:** 

● we will make only one annuity payment and there will be no death benefit payable.

<u>Annuity Factor Age Adjustment</u>. If You <u>Annuitize</u> under one of the rider's variable options before the 10th rider anniversary, the first payment will be calculated with an annuity factor Age adjustment which subtracts up to 9 years from the Annuitant's Age (Age 85 if the Annuitant's Age is at least 85). This results in all payments being lower than if an annuity factor Age adjustment was not used. The Age adjustment is as follows:

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| | |
|:---|:---|
| **Number of Complete Years**<br> **Since the Rider Date**<br>| **Age Adjustment: Number of Years**<br> **Subtracted From Your Age**<br>|
| 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 |
| 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
| 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| 7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| 9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| 10 or more | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |

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<u>Minimum Annuitization Value Upgrade</u>. You can elect, in writing, to upgrade the minimum Annuitization value to the current Annuity Value at any time after the first rider anniversary and before the Annuitant's 85th birthday (earlier if required by Your state). For Your convenience, we will put the last date to upgrade on page one of the rider.

If You elect to upgrade, the current rider will terminate, we will assess the rider charge, and a new rider will be issued. The new rider will have a new rider date, a new waiting period before You can Annuitize under the rider, a new annual growth rate, a new rider charge waiver threshold and new guaranteed benefits and charges. The rider anniversary will be measured from the new rider's issue date, so that Annuitizing prior to the new rider's 10th anniversary will result in an annuity factor Age adjustment, and the term certain fixed annuity payment option may not be selected. The benefits and charges under the new rider may not be as advantageous as the previous rider's benefits and charges prior to upgrading.

It generally will not be to Your advantage to upgrade unless Your Annuity Value exceeds Your minimum Annuitization value on the applicable rider anniversary.

<u>Conditions to Annuitize Under the Rider</u>. You can only Annuitize under the rider within 30 days after a rider anniversary. In the case of an upgrade of the minimum Annuitization value, You cannot Annuitize before the new rider's first rider anniversary. You cannot Annuitize under the rider after the 30-day period following the rider anniversary after the Annuitant's 89th birthday (earlier if required by Your state). For Your convenience, we will put the last date to Annuitize under the rider on page one of the rider.

**Note Carefully:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● You may only Annuitize under the rider at the times indicated above. **If You Annuitize at any other time, You lose the benefit of the rider**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● If You Annuitize under the rider before the 10th rider anniversary, there will be an annuity factor Age adjustment. *See* <u>Annuity Factor Age Adjustment</u> above.

<u>Payments under the Rider</u>. If <u>You</u> elect a variable annuity payment option under the rider, we guarantee that future annuity payments under the rider will never be less than the initial annuity payment. See the SAI for information concerning the calculation of the first payment. We will also "stabilize'' the payments (hold them constant) during each rider year.

During the first rider year after You Annuitize under the rider, each payment will equal the initial payment. On each rider anniversary thereafter, the variable annuity payment will increase or decrease (but never below the initial payment) depending on the performance of the <u>Subaccounts</u> You selected, and then be held constant at that amount for that rider year. The payments starting on each rider

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anniversary will equal the greater of the initial variable annuity payment or the payment that can be supported by the number of annuity units in the Subaccounts on the rider anniversary. We will calculate each subsequent payment using a 5% assumed investment return. The portfolio in which You are invested must grow at a rate greater than the 5% assumed investment return, plus the separate guaranteed minimum payment fee of 1.10% and mortality and expense risk and administrative charges of 1.40% annually, in order to increase the dollar amount of variable annuity payments. Annuity payments may decline in value if investment returns do not grow at this rate, but Your payment will never be less than the initial payment. *See* the SAI for additional information concerning how payments are determined under the rider.

<u>Rider Charge Before Annuitization</u>. Prior to <u>Annuitization</u>, a rider charge, currently 0.45% annually of the minimum Annuitization value, is deducted from the Annuity Value on each rider anniversary and pro rata on the termination date of the rider (including Policy Surrender and upgrades of the minimum Annuitization value). The annual rider charge after an upgrade is currently 0.45%, but we reserve the right to increase the rider charge after upgrade to 0.50%. Once the rider is issued, the rider charge will not change. Keep in mind that the current rider charge (0.45%) may be higher if You upgrade the rider at a later date because we may increase the rider charge after upgrade up to the maximum (0.50%). We deduct the rider charge from the <u>Fixed Account</u> and from each Subaccount in proportion to the amount of Annuity Value in each account. This charge is deducted even if the Annuity Value exceeds the minimum Annuitization value.

We will waive the rider charge on any rider anniversary if the Annuity Value exceeds the rider charge waiver threshold (guaranteed 2.0) times the minimum Annuitization value. For instance, if Your Annuity Value on the seventh rider anniversary is $100,000, Your minimum Annuitization value is $45,000 and the rider charge waiver threshold is 2.0, we will waive the rider charge on that anniversary because $100,000 is greater than $90,000 ($45,000 X 2.0). We may, at our discretion, change the rider charge waiver threshold in the future if You choose to upgrade the minimum Annuitization value, or for future issues of the rider, but it will never be greater than 2.5.

<u>Rider Charge After Annuitization</u>. If You Annuitize under a variable annuity payment option of the rider, a daily guaranteed minimum payment fee, equal to an annual rate of 1.10% of the daily net asset values in the Subaccounts, plus the mortality and expense risk and administrative charges of 1.40%, are reflected in the amount of the variable payments You receive. We may change the guaranteed minimum payment fee in the future, if You choose to upgrade the minimum Annuitization value or for future issues of the rider, but it will never be greater than 2.10%.

<u>Termination</u>. You have the option to terminate the rider at any time after the first rider anniversary by sending us written notification to our Administrative Office. You have the option not to Annuitize under the rider but we will not refund any charges You have paid and You will not be able to use the minimum Annuitization value. The rider will terminate upon the earliest of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Annuitization that is not under the rider;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the date You elect to upgrade (although a new rider will be issued);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the date we receive Your complete written request to terminate the rider;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the date Your Policy terminates or is Surrendered;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● 30 days following the rider anniversary after the Annuitant's 89th birthday (earlier if required by Your state); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the date of death of Annuitant when the death benefit proceeds are payable to the Beneficiary.

However, if the change in <u>Annuitant</u> is due to the death of an Annuitant who is not an <u>Owner</u>, then You may name a new Annuitant and the then-current rider will remain in effect.

The rider does not establish or guarantee <u>Annuity Value</u> or guarantee performance of any <u>Subaccount</u>. Because the rider guarantees a minimum level of income, the level of income that it guarantees may be less than the level that might be provided by application of the Annuity Value at the Policy's applicable annuity factors. Therefore, the rider should be regarded as a safety net. The costs of Annuitizing under the rider include the guaranteed minimum payment fee, the mortality and expense risk and administrative charges and also the lower levels inherent in the annuity tables used for the minimum payouts. These costs should be balanced against the benefits of a minimum payout level.

The rider may vary by state and is not available in all states. We recommend that <u>You</u> consult Your tax adviser before You purchase this rider.

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**ADDITIONAL EARNINGS RIDER (NO LONGER AVAILABLE)**

The optional Additional Earnings Rider may pay an Additional Earnings Rider Amount when the Owner who is the Annuitant dies and death benefit proceeds are paid under Your Policy. When You buy this rider, You should name each Owner as an Annuitant.

We will pay the Additional Earnings Rider Amount under this rider only if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the rider is In Force at the time of death;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Death benefit proceeds are payable under the Policy; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● There are rider earnings when the death benefit proceeds are calculated.

You may elect the rider when we issue the Policy, or on any <u>[Monthiversary](#monthiverse)</u> during the <u>Accumulation Period</u> before You reach Age 75. The date You add the rider to the Policy is the rider date.

**Additional Earnings Rider Amount**. The Additional Earnings Rider Amount is equal to the additional earnings factor (see below), multiplied by the lesser of:

● the rider earnings on the date we calculate the death benefit proceeds (the Death Report Day); or

● the rider earnings limit (shown on Your rider) multiplied by the rider base on the Death Report Day.

The maximum we will pay under this rider is $1 million.

Rider earnings equal:

● the death benefit proceeds payable under the Policy; minus

● the rider base, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the greater of the death benefit proceeds on the rider date or the Annuity Value on the rider date; plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the Purchase Payments made after the rider date; less

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the amount of each withdrawal made after the rider date, multiplied by the ratio of the rider base to the Annuity Value immediately before the withdrawal.

**Example**: On May 1, 2002, a person aged 60 purchases a Policy with the Additional Earnings Rider. On the date of the purchase (rider date) the Annuity Value and death benefit value were equal to the Purchase Payment of $40,000 (the rider base). The rider has an additional earnings factor of 40% and rider earnings limit of 250%. The maximum benefit we will pay under the rider is $1,000,000.

At the time of the Owner's death, the death benefit proceeds are valued at $75,000. To calculate the benefit we will pay under the Additional Earnings Rider (that is, the Additional Earnings Rider Amount), first we subtract the rider base ($40,000), assuming no withdrawals or additional Purchase Payment have been made since the rider date, from the death benefit proceeds to get the rider earnings ($75,000—$40,000=$35,000).

Then we perform several additional calculations. The benefit we pay under the Additional Earnings Rider is the **lesser** of a), b), or c):

a) The rider earnings ($35,000) multiplied by the additional earnings factor (40%) = $14,000;

b) The rider earnings limit (250%) multiplied by the rider base ($40,000) multiplied by the additional earnings factor (40%) = $40,000; or

c) The maximum benefit under the rider=$1,000,000.

The Additional Earnings Rider Amount (that is, the benefit we will pay under the Additional Earnings Rider) is $14,000. The total death benefit under these circumstances (that is, the death benefit proceeds plus the Additional Earnings Rider Amount) is $89,000 ($75,000 + $14,000).

For additional examples, *see* <u>Appendix B - Additional Earnings Rider - Hypothetical Examples</u>.

We will not pay a benefit under the Additional Earnings Rider if there are no rider earnings on the date we calculated the death benefit proceeds. If You purchased Your Policy as part of a 1035 exchange or if You added the rider after You purchased the <u>Policy</u>, rider earnings do not include any gains before the rider is added to Your Policy. As with all insurance, You may not realize a benefit from the purchase of this rider.

The additional earnings factors are as follows:

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---

| | |
|:---|:---|
| **Owner/Annuitant's Age on the Rider Date** | **Percent** |
| 0-65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40% |
| 66-67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35% |
| 68-69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30% |
| 70-75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25% |

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For purposes of computing taxable gains payable on the death benefit proceeds, both the death benefit proceeds payable under the Policy and the Additional Earnings Rider Amount will be considered.

*See* <u>Appendix B - Additional Earnings Rider - Hypothetical Examples</u> for an example which illustrates the Additional Earnings Rider Amount payable as well as the effect of a withdrawal on the Additional Earnings Rider Amount.

**<u>Continuation</u>**. If an Owner who is the Annuitant dies during the Accumulation Period and the deceased Owner's spouse, is eligible and continues or elects to continue the Policy, and the <u>Annuity Value</u> is adjusted to equal the death benefit proceeds, the deceased Owner's spouse will have the following options:

● terminate the Additional Earnings Rider and receive a one-time Annuity Value increase equal to the Additional Earnings Rider Amount. All future withdrawal charges on this amount, if any, will be waived; or

● continue the Additional Earnings Rider (with fees) without the one-time Annuity Value increase. An Additional Earnings Rider Amount would then be paid upon the death of the spouse who continued the Policy. Because we have not issued a new rider, but simply continued the rider purchased by the deceased Owner, we will calculate the Additional Earnings Rider Amount using the additional earnings factor and other calculation factors applicable to the original rider.

**<u>Alternate Election</u>**. If an Owner who is the Annuitant dies during the Accumulation Period and one or more of the <u>Beneficiaries</u> elect to receive the complete distribution of the death proceeds under alternate payment option (1) or (3), then that Beneficiary will have the following options:

● terminate the Additional Earnings Rider and receive a one-time increase in death benefit proceeds equal to a proportionate share of the Additional Earnings Rider Amount. All future withdrawal charges on this amount, if any, will be waived; or

● continue the Additional Earnings Rider (with fees) without the one-time Annuity Value increase. An Additional Earnings Rider Amount would then be paid in a lump sum upon the death of the Beneficiary and the Policy will terminate. .This amount will be calculated using the additional earnings factor and other calculation factors determined under the original rider. The required annual distributions under the alternate payment elections are likely to reduce significantly the value of this rider during this period.

*See* - <u>Alternate Payment Elections Options Before the Maturity Date</u>.

**<u>Rider Fee</u>**. There is an annual charge during the Accumulation Period of 0.35% of Your Policy's Annuity Value. The charge will not be increased once the rider has been issued. We deduct the rider charge from Your Annuity Value on each rider anniversary and pro rata on the termination date of the rider. We will deduct this fee from each <u>Subaccount</u> and the <u>Fixed Account</u> in proportion to the amount of the Annuity Value in each account. We do not assess this charge during the income phase. The rider fee is deducted even during periods when the rider would not pay any benefit because there are no rider earnings.

**<u>Termination</u>**. The rider will remain in effect until:

● we receive Your written cancellation notice at our Administrative Office;

● You Annuitize or Surrender the Policy; or

● the Additional Earnings Rider Amount is paid or added to the Annuity Value under a continuation.

Once You terminate the rider, You may re-select it during the Accumulation Period, if we are still offering the rider; however, a new rider will be issued and the Additional Earnings Rider Amount will be redetermined. Please note that if You terminate the rider and then re-select it, the rider will only cover gains, if any, since it was re-selected, and the terms and charges of the new rider may differ from those of the terminated rider.

It is possible that the Internal Revenue Service may take a position that charges for the Additional Earnings Rider should be treated as taxable distributions to You. Although we do not believe that a rider charge under the Policy should be treated as a taxable distribution, You should consult Your tax adviser before selecting this rider under the Policy.

The Additional Earnings Rider may vary by state and may not be available in all states.

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**ADDITIONAL FEATURES**

**Dollar Cost Averaging Program** 

During the Accumulation Period, You may instruct us to automatically make transfers into one or more Subaccounts in accordance with Your allocation instructions. This is known as Dollar Cost Averaging. While Dollar Cost Averaging buys more accumulation units when prices are low and fewer accumulation units when prices are high, it does not guarantee profits or assure that You will not experience a loss.

Dollar Cost Averaging programs that may be available under Your Policy:

● Traditional—You may specify the dollar amount to be transferred or the number of transfers. Transfers will begin as soon as the program is started. A minimum of $500 per transfer is required. The minimum number of transfers is 6 monthly or 4 quarterly, and the maximum is 24 monthly or 8 quarterly. You can elect to transfer from the <u>Fixed Account</u>, money market or other specified Subaccount.

● Special—You may only elect either a six or twelve month program. Transfers will begin as soon as the program is started. You cannot transfer from another Investment Option into a Special Dollar Cost Averaging program. This program is only available for new Purchase Payments, requires transfers from a fixed source, and may credit a higher or lower interest rate than a traditional program. A minimum of $500 per transfer is required ($3,000 or $6,000 to start a 6-month or 12-month program, respectively).

A Dollar Cost Averaging program will begin the next business day after we have received in good order all necessary information and the minimum required amount. *See* <u>Sending Forms and Transaction Requests in Good Order</u>. Please note, Dollar Cost Averaging programs will not begin on the 29th, 30th, or 31st. If a program would have started on one of those dates, it will start on the 1st business day of the following month. If we receive additional Purchase Payments while a Dollar Cost Averaging program is running, absent new instructions to the contrary, the amount of the Dollar Cost Averaging transfers will increase, but the length of the Dollar Cost Averaging program will not.

**NOTE CAREFULLY:** 

New Dollar Cost Averaging instructions are required to start a new Dollar Cost Averaging program once the previous Dollar Cost Averaging program has completed. Additional <u>Purchase Payments</u>, absent new allocation instructions, received after a Dollar Cost Averaging program has completed, will be allocated according to the current Purchase Payment allocations at that time but will not reactivate a completed Dollar Cost Averaging program.

**IF:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **we do not receive all necessary information to begin or restart a Dollar Cost Averaging program;** 

**THEN:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **any amount allocated to a fixed source will be invested in that fixed source but will be transferred to the money market Investment Option within 30 days of allocation to fixed source if new Dollar Cost Averaging instructions are not received;** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **any amount in a variable source will be invested in that variable source and will remain in that variable Investment Option; and** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **new Dollar Cost Averaging instructions will be required to begin a Dollar Cost Averaging program.** 

You should consider Your ability to continue a Dollar Cost Averaging program during all economic conditions. Transfers from a Dollar Cost Averaging fixed source are not subject to an Excess Interest Adjustment. A Dollar Cost Averaging program can be used in conjunction with Asset Rebalancing and a guaranteed lifetime withdrawal benefit (subject to any Investment Restrictions involving the source). There is no charge for this benefit.

*The Dollar Cost Averaging Program may vary for certain policies and may not be available for all policies, in all states or at all times. See Your Policy for availability of the Fixed Account options.* We reserve the right to terminate the availability of any Dollar Cost Averaging program at any time.

**Asset Rebalancing** 

During the Accumulation Period You can instruct us to automatically rebalance the amounts in Your <u>Subaccounts</u> to maintain Your desired asset allocation. This feature is called asset rebalancing. To enter into asset rebalancing, You must submit a completed request form, signed by the <u>Owner</u> to our Administrative Office. To end participation in asset rebalancing, You or Your authorized registered representative may call or write to our Administrative Office. Entrance to the asset rebalancing program is limited to once per Policy year. However, we will not rebalance if You are in the dollar cost averaging program or systematic Withdrawal program, if You elect to

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participate in any asset allocation service provided by a third party or if You request any other transfer, or if we receive Your request to discontinue participation at our Administrative Office. Asset rebalancing ignores amounts in the Fixed Account. You can choose to rebalance monthly, quarterly, semi-annually, or annually.

If You request the Asset Rebalancing program, we will change Your future payment allocation to match the Subaccounts in Your Asset Rebalancing program.

To qualify for asset rebalancing, a minimum Annuity Value of $10,000 is required. Any Annuity Value in the <u>[Fixed Account Value](#fixedaccval)</u> may not be included in the asset rebalancing program. Asset rebalancing does not guarantee gains, nor does it assure that any Subaccount will not have losses.

There is no charge for this program. However, each reallocation which occurs under asset rebalancing will be counted towards the 12 free transfers allowed during each Policy year.

We reserve the right to discontinue, modify or suspend the asset rebalancing program at any time.

**Telephone, Fax and Internet Transactions** 

Currently, certain transactions may be made by telephone or other electronic means acceptable to us upon our receipt of the appropriate authorization. We may discontinue this option at any time.

Upon instructions from You, the registered representative/agent of record for Your Policy may also make telephonic transfers for You. If You do not want the ability to make transfers by telephone, You should notify us in writing.

Except for the restrictions regarding the Fixed Account noted above, You may make telephonic transfers, allocation changes or request withdrawals by calling our toll-free number: (800)851-9777 (Monday-Friday 8:30 a.m.- 7:00 p.m. Eastern Time). You will be required to provide certain information for identification purposes when You request a transaction by telephone. We may also require written confirmation of Your request. We will not be liable for losses resulting from telephone requests that we believe are genuine. Telephone transfers for policies owned by trust will only be allowed if a current trust certification form with a signature guarantee is on file at our Administrative Office. If we do not employ reasonable confirmation procedures, we may be liable for losses due to unauthorized or fraudulent transactions.

Telephone, fax and Internet orders must be received in good order at our Administrative Office while the New York Stock Exchange is open for regular trading to receive same-day pricing. Orders received in good order at our office on non-business days or after the close of business on business days will get next – day pricing. See <u>Sending Forms and Transactions in Good Order</u>.

We may deny the telephone transaction privileges to market timers and frequent or disruptive traders.

To request a transfer or Withdrawal, please fax Your request to us at (877)355-4385. **We will not be responsible for same-day processing of transfers or Withdrawals if You fax Your request to a number other than this fax number**.

You may make transfers and change premium allocations through our website - tlic.transamerica.com.

We will not be responsible for transmittal problems which are not reported to us by the following business day. Any reports must be accompanied by proof of the faxed transmittal.

We cannot guarantee that telephone, fax or Internet transactions will always be available. For example, our Administrative Office may be closed during severe weather emergencies or there may be interruptions in telephone service or problems with computer systems that are beyond our control. If the volume of calls is unusually high, we might not have someone immediately available to receive Your order. Although we have taken precautions to help our systems handle heavy use, we cannot promise complete reliability under all circumstances. Outages or slowdowns may prevent or delay our receipt of Your order or request.

We may discontinue the availability of telephone, fax or Internet transactions at any time.

**Loans** 

**Policy Loans for Certain Qualified Policies** 

You can take <u>Policy</u> loans during the <u>Accumulation Period</u> after the right to cancel period has expired when the Policy is used in connection with a tax-sheltered annuity plan under Section 403(b) of the Code (limit of one Policy loan per calendar year). If Your Policy was issued pursuant to a 403(b) plan, starting January 1, 2009, we generally are required to confirm, with Your 403(b) plan sponsor or otherwise, that loans You request comply with applicable tax requirements and to decline requests that are not in compliance. No additional loans will be allowed if there is a defaulted loan. There can be no more than two outstanding loans at any given time.

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The maximum amount You may borrow against the Policy is the lesser of:

● 50% of the Annuity Value; or

● $50,000 reduced by the highest outstanding loan balance during the one-year period immediately prior to the loan date. However, if the Annuity Value is less than $20,000, the maximum You may borrow against the Policy is the lesser of 80% of the Annuity Value or $10,000.

The minimum loan amount is $1,000 (unless otherwise required by state law). <u>You</u> are responsible for requesting and repaying loans that comply with applicable tax requirements, and other laws, such as the Employee Retirement Income Security Act of 1974 ("ERISA"). In addition, the Department of Labor has issued regulations governing loans taken by plan participants under retirement plans subject to ERISA. These regulations require, in part, that a loan from an ERISA-governed plan be made under an enforceable agreement, charge a reasonable rate of interest, be adequately secured, provide a reasonable repayment schedule, and be made available on a basis that does not discriminate in favor of employees who are officers or shareholders or who are highly compensated.

Failure to comply with these requirements may result in penalties under the <u>Code</u> and ERISA. You and Your employer are responsible for determining whether Your plan is subject to, and complies with, ERISA and the Department of Labor's regulations governing plan loans and the tax rules applicable to loans. Accordingly, You should consult a competent financial professional before requesting a Policy loan.

The loan amount will be withdrawn from Your investment choices and transferred to the loan reserve. The loan reserve is part of the <u>Fixed Account</u> and is used as collateral for all Policy loans. We reserve the right to postpone distributing the loan amount from the Fixed Account for up to six months, if required.

On each <u>Policy Anniversary</u> we will compare the amount of the Policy loan to the amount in the loan reserve. If all Policy loans and unpaid interest due on the loan exceed the amount in the loan reserve, we will withdraw the difference from the <u>Subaccounts</u> and transfer it to the loan reserve. If the amount of the loan reserve exceeds the amount of the outstanding Policy loan, we will withdraw the difference and transfer it in accordance with Your current <u>Purchase Payment</u> allocation. We reserve the right to transfer the excess to the Fixed Account if the amount used to establish the loan reserve was transferred from the Fixed Account.

If all Policy loans and unpaid interest due on the loan exceed the <u>Cash Value</u>, we will mail to Your last known address and to any assignee of record a notice stating the amount due in order to reduce the loan amount so that the loan amount no longer exceeds the Cash Value. If the excess amount is not paid within 31 days after we mail the notice, the Policy will terminate without value.

You can repay any Policy loan in full (prior to loan default):

● while the Policy is In Force; and

● during the Accumulation Period.

**Note Carefully**: If You do not repay Your Policy loan, we will deduct an amount equal to the unpaid loan balance plus any unpaid accrued interest from:

● the amount of any death benefit proceeds; or

● the amount we pay upon a Withdrawal or complete Surrender; or

● the amount we apply on the Maturity Date to provide annuity payments.

You must pay interest on the loan at the rate of 6% per year. You are responsible for determining whether this interest rate is reasonable under ERISA. We deduct interest in arrears. Amounts in the loan reserve will earn interest at a minimum guaranteed effective annual interest rate of 4%. Principal and interest must be repaid:

● in substantially level quarterly payments over a 5-year period; or

● over a 10, 15 or 20-year period, if the loan is used to buy Your principal residence.

**Please Note**: Once established, You cannot change the due date or payment method. An extended repayment period cannot go beyond the year You turn 72(or <u>Age</u> 70 ½ if the Annuitant attained 70 ½ before 1/1/2020).

**IF:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **a repayment is not received within 31 days from the original due date;** 

**THEN:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **under federal tax law You will be treated as having a deemed distribution of all Policy loans and unpaid accrued interest, and any applicable charges, including any Withdrawal charge, will be assessed.** 

This distribution will be reported as taxable to the Internal Revenue Service, may be subject to income and penalty tax, and may cause the Policy to not qualify under Section 403(b) of the Code.

You may fax Your loan request to us at (866)-671-9215.

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The loan date is the date we process the loan request. We impose a $30 fee to cover loan processing and expenses associated with establishing and administering the loan reserve (not applicable in all states). For Your protection, we will require a signature guarantee for any loan request within 30 days of an address change. We reserve the right to limit the number of Policy loans to one per Policy year.

Policy loans may not be available in all states.

**TAX INFORMATION** 

**NOTE: We have prepared the following information on federal taxes as a general discussion of the subject. It is not intended as tax advice to any taxpayer. The federal tax consequences discussed herein reflects our understanding of current law, and the law may change. No representation is made regarding the likelihood of continuation of the present federal tax law or of the current interpretations by the Internal Revenue Service. The discussion briefly references federal estate, gift and generation-skipping transfer taxes, but principally discusses federal income taxes. No attempt is made to consider any applicable state or other income tax laws, any state and local estate or inheritance tax, or other tax consequences of ownership or receipt of distributions under the Policy. You should consult Your own financial professional about Your own circumstances.** 

**Introduction** 

Deferred annuity policies are a way of setting aside money for future needs like retirement. Congress recognized how important saving for retirement is and provided special rules in the Internal Revenue Code (the "Code") for annuities. Simply stated, these rules generally provide that individuals will not be taxed on the earnings, if any, on the money held in an annuity Policy until withdrawn. This is referred to as tax deferral. When a non-natural person (e.g., corporation or certain trusts) owns a nonqualified Policy, the Policy will generally not be treated as an annuity for tax purposes. Thus, the Owner must generally include in income any increase in the Policy value over the investment in the Policy during each taxable year.

There are different rules as to how You will be taxed depending on how You take the money out and the type of Policy-qualified or nonqualified.

If You purchase the Policy as an individual retirement annuity under section 408(b) of the Internal Revenue Code (or as a part of a traditional individual retirement account or Roth individual retirement account under sections 408(a) and 408A of the Code) or as a part of a 403(b) plan, 457 plan, a pension plan, a profit sharing plan (including a 401(k) plan), or certain other employer sponsored retirement programs, Your Policy is referred to as a qualified Policy. There is no additional tax deferral benefit derived from placing qualified funds into a variable annuity. Features other than tax deferral should be considered in the purchase of a qualified Policy. There are limits on the amount of contributions You can make to a qualified Policy and Your ability to assign the Policy. Other restrictions may apply including terms of the plan in which You participate. To the extent there is a conflict between a plan's provisions and a Policy's provisions, the plan's provisions will control.

If You purchase the Policy other than as part of any arrangement described in the preceding paragraph, the Policy is referred to as a nonqualified Policy.

You will generally not be taxed on increases in the value of Your Policy, whether qualified or nonqualified, until a distribution occurs (e.g., as a Surrender, withdrawal, or as annuity payments). However, You may be subject to current taxation if You assign or pledge or enter into an agreement to assign or pledge any portion of the Policy. You may also be subject to current taxation if You make a gift of a nonqualified Policy without valuable consideration. All amounts received from the Policy that are includible in income are taxed at ordinary income rates; no amounts received from the Policy are taxable at the lower rates applicable to capital gains.

The Internal Revenue Service ("IRS") has not reviewed the Policy for qualification as a qualified annuity or IRA, and has not addressed in a ruling of general applicability whether the death benefit options and riders available, with the Policy, if any, comport with qualified annuity or IRA qualification requirements.

The value of living and death benefit options and riders elected may need to be taken into account in calculating minimum required distributions from a qualified plan/or Policy.

We may occasionally enter into settlements with Owners and Beneficiaries to resolve issues relating to the Policy. Such settlements will be reported on the applicable tax form (e.g., Form 1099) provided to the taxpayer and the taxing authorities.

**Taxation of Us** 

We are at present taxed as a life insurance company under part I of Subchapter L of the Code. The Separate Account is treated as a part of us and, accordingly, will not be taxed separately as a "regulated investment company" under Subchapter M of the Code. We do not expect to incur any federal income tax liability with respect to investment income and net capital gains arising from the activities of the Separate Account retained as part of the reserves under the Policy. Based on this expectation, it is anticipated that no charges

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will be made against the Separate Account for federal income taxes. If in future years, any federal income taxes are incurred by us with respect to the Separate Account, we may make a charge to that account. We may benefit from any deductions for dividends received by the Separate Account or foreign tax credits attributable to taxes paid by certain Underlying Fund Portfolios to foreign jurisdictions to the extent permitted under federal tax law.

**Tax Status of a Nonqualified Policy** 

<u>Diversification Requirements</u>. In order for a nonqualified variable Policy which is based on a segregated asset account to qualify as an annuity Policy under Section 817(h) of the Code, the investments made by such account must be "adequately diversified" in accordance with Treasury Regulations. The Regulations apply a diversification requirement to each of the Subaccounts. Each Separate Account, through its Underlying Fund Portfolios and their portfolios, intends to comply with the diversification requirements of the Regulations. We have entered into agreements with each Underlying Fund Portfolio company that require the portfolios to be operated in compliance with the Regulations but we do not have control over the Underlying Fund Portfolio companies. The Owners bear the risk that the entire Policy could be disqualified as an annuity Policy under the Code due to the failure of a Subaccount to be deemed to be "adequately diversified."

<u>Owner Control</u>. In some circumstances, Owners of variable policies who retain excessive control over the investment of the underlying Separate Account assets may be treated as the Owners of those assets and may be subject to tax on income produced by those assets. In Revenue Ruling 2003-91, the IRS stated that whether the Owner of a variable Policy is to be treated as the Owner of the assets held by the insurance company under the Policy will depend on all of the facts and circumstances.

Revenue Ruling 2003-91 also gave an example of circumstances under which the Owner of a variable Policy would not possess sufficient control over the assets underlying the Policy to be treated as the Owner of those assets for federal income tax purposes. To the extent the circumstances relating to the issuance and ownership of a Policy vary from those described in Revenue Ruling 2003-91, Owners bear the risk that they will be treated as the Owner of Separate Account assets and taxed accordingly.

We believe that the Owner of a Policy should not be treated as the Owner of the underlying assets. We reserve the right to modify the policies to bring them into conformity with applicable standards should such modification be necessary to prevent Owners of the policies from being treated as the Owners of the underlying Separate Account assets. Concerned Owners should consult their own financial professional regarding the tax matter discussed above.

<u>Distribution Requirements</u>. The Code requires that nonqualified policies contain specific provisions for distribution of Policy proceeds upon the death of any Owner. In order to be treated as an annuity Policy for federal income tax purposes, the Code requires that such policies provide that if any Owner dies on or after the annuity starting date and before the entire interest in the Policy has been distributed, the remaining portion must be distributed at least as rapidly as under the method in effect on such Owner's death. If any Owner dies before the annuity starting date, the entire interest in the Policy must generally be distributed (1) within 5 years after such Owner's date of death or (2) be used to provide payments to a designated Beneficiary for the life of the Beneficiary or for a period not extending beyond the life expectancy of the Beneficiary. The designated Beneficiary must be an individual and payments must begin within one year of such Owner's death. However, if upon such Owner's death the Owner's surviving spouse is the sole Beneficiary of the Policy, then the Policy may be continued with the surviving spouse as the new Owner. If any Owner is a non-natural person (except in the case of certain grantor trusts), then for purposes of these distribution requirements, the primary Annuitant shall be treated as an Owner and any death or change of such primary Annuitant shall be treated as the death of an Owner.

In certain instances a designated Beneficiary may be permitted to elect a "stretch" payment option as a means of disbursing death proceeds from a nonqualified annuity. The only method we use for making distribution payments from a nonqualified "stretch" payment option is the required minimum distribution method as set forth in Revenue Ruling 2022-6. The applicable payments are calculated using the Single Life Expectancy Table set forth in Treasury Regulation 1.401(a)(9)-9(b).

The nonqualified policies contain provisions intended to comply with these requirements of the Code. No regulations interpreting these requirements of the Code have yet been issued and thus no assurance can be given that the provisions contained in the policies satisfy all such Code requirements. The provisions contained in the policies will be reviewed and modified if necessary to assure that they comply with the Code requirements when clarified by regulation or otherwise.

**Taxation of Nonqualified Annuities** 

The following discussion assumes the Policy qualifies as an annuity Policy for federal income tax purposes.

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<u>In General</u>. Code Section 72 governs taxation of annuities in general. We believe that an Owner who is an individual will not be taxed on increases in the value of a Policy until such amounts are Surrendered or distributed. For this purpose, the assignment, pledge, or agreement to assign or pledge any portion of the Policy value as collateral for a loan generally will be treated as a distribution of such portion. You may also be subject to current taxation if You make a gift of a nonqualified Policy without valuable consideration. The taxable portion of a distribution is taxable as ordinary income.

<u>Non-Natural Persons</u>. Pursuant to Section 72(u) of the Code, a nonqualified Policy held by a taxpayer other than a natural person generally will not be treated as an annuity Policy under the Code; accordingly, an Owner who is not a natural person will recognize as ordinary income for a taxable year the excess, if any, of the Policy value over the "investment in the Policy." There are some exceptions to this rule and a prospective purchaser of the Policy that is not a natural person should discuss these rules with a competent financial professional. A Policy owned by a trust using the grantor's social security number as its taxpayer identification number will be treated as owned by the grantor (natural person) for the purposes of our application of Section 72 of the Code. Consult a financial professional for more information on how this may impact Your Policy.

**Different Individual Owner and Annuitant** 

If the Owner and Annuitant on the Policy are different individuals, there may be negative tax consequences to the Owner and/or Beneficiaries under the Policy if the Annuitant predeceases the Owner including, but not limited, to the assessment of penalty tax and the loss of certain death benefit distribution options. You may wish to consult Your legal counsel or financial professional if You are considering designating a different individual as the Annuitant on Your Policy to determine the potential tax ramifications of such a designation.

**Annuity Starting Date** 

This section makes reference to the annuity starting date as defined in Section 72 of the <u>Code</u> and the applicable regulations. Generally, the definition of annuity starting date will correspond with the definition of Maturity Date used in Your Policy and the dates will be the same. However, in certain circumstances, Your annuity starting date and Maturity Date will not be the same date. If there is a conflict between the definitions, we will interpret and apply the definitions in order to ensure Your Policy maintains its status as an annuity Policy for federal income tax purposes. You may wish to consult a financial professional for more information on when this issue may arise.

It is possible that at certain advanced Ages a Policy might no longer be treated as an annuity Policy if the Policy has not been Annuitized before that Age or have other tax consequences. You should consult with a financial professional about the tax consequences in such circumstances.

**Taxation of Annuity Payments** 

Although the tax consequences may vary depending on the annuity payment option You select, in general, for nonqualified and certain qualified policies, only a portion of the annuity payments You receive will be includable in Your gross income.

In general, the excludable portion of each annuity payment You receive will be determined as follows:

● Fixed payments-by dividing the "investment in the Policy" on the annuity starting date by the total expected return under the Policy (determined under Treasury regulations) for the term of the payments. This is the percentage of each annuity payment that is excludable.

● Variable payments-by dividing the "investment in the Policy" on the annuity starting date by the total number of expected periodic payments. This is the amount of each annuity payment that is excludable.

The remainder of each annuity payment is includable in gross income. Once the "investment in the Policy" has been fully recovered, the full amount of any additional annuity payments is includable in gross income and taxed as ordinary income. The "investment in the Policy" is generally equal to the premiums You pay for the Policy, reduced by any amounts You have previously received from the Policy that are excludible from gross income.

If You select more than one annuity payment option, special rules govern the allocation of the Policy's entire "investment in the Policy" to each such option, for purposes of determining the excludable amount of each payment received under that option. We advise You to consult a competent financial professional as to the potential tax effects of allocating amounts to any particular annuity payment option.

If, after the annuity starting date, annuity payments stop because an Annuitant died, the excess (if any) of the "investment in the Policy" as of the annuity starting date over the aggregate amount of annuity payments received that was excluded from gross income may possibly be allowable as a deduction on Your tax return.

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**Taxation of Surrenders and Withdrawals - Nonqualified Policies** 

When You <u>Surrender</u> Your Policy, You are generally taxed on the amount that Your Surrender proceeds exceeds the "investment in the Policy." The "investment in the Policy" is generally equal to the premiums You pay for the Policy, reduced by any amounts You have previously received from the Policy that are excludible from gross income. Withdrawals are generally treated first as taxable income to the extent of the excess in the Policy value over the "investment in the Policy." Distributions made under the systematic payout option are treated for tax purposes as withdrawals, not annuity payments. In general, loans, pledges and collateral assignments as security of a loan are taxed in the same manner as withdrawals and Surrenders. You may also be subject to current taxation if You make a gift of a nonqualified Policy without valuable consideration. All taxable amounts received under a Policy are subject to tax at ordinary rather than capital gain tax rates.

If Your <u>Policy</u> contains an excess interest adjustment feature (also known as a market value adjustment), then Your Policy value immediately before a Policy withdrawal (or transaction taxed like a withdrawal) may have to be increased by any positive excess interest adjustments that result from the transaction. There is, however, no definitive guidance on the proper tax treatment of excess interest adjustments, and You may want to discuss the potential tax consequences of an excess interest adjustment with Your financial professional.

The Code also provides that amounts received from the Policy that are includible in gross income (including the taxable portion of some annuity payments) may be subject to a penalty tax. The amount of the penalty tax is equal to 10% of the amount that is includable in income. Some Surrender withdrawals and other amounts will be exempt from the penalty tax. Amounts received that are not subject to the penalty tax include, among others, any amounts: (1) paid on or after the taxpayer reaches Age 59½; (2) paid after an <u>Owner</u> (or where the Owner is a non-natural person, an Annuitant) dies; (3) paid if the taxpayer becomes disabled (as that term is defined in the Code); (4) paid in a series of substantially equal payments made annually (or more frequently) over the life of the taxpayer or the joint life of the taxpayer and the taxpayer's designated <u>Beneficiary</u>; (5) paid under an immediate annuity; or (6) which come from Purchase Payments made prior to August 14, 1982. Regarding the disability exception, because we cannot verify that the Owner is disabled, we will report such withdrawals to the IRS as early withdrawals with no known exception from the penalty tax.

Other exceptions may be applicable under certain circumstances and special rules may be applicable in connection with the exceptions enumerated above. You may wish to consult a financial professional for more information regarding the imposition of penalty tax.

**Aggregation** 

All nonqualified deferred annuity policies that are issued by us (or our affiliates) to the same Owner (policyholder) during the same calendar year are treated as one annuity for purposes of determining the amount includable in the Owner's income when a taxable distribution (other than annuity payments) occurs. If You are considering purchasing multiple policies from us (or our affiliates) during the same calendar year, You may wish to consult with Your financial professional regarding how aggregation will apply to Your policies.

**Tax-Free Exchanges of Nonqualified Policies** 

We may issue the nonqualified Policy in exchange for all or part of another annuity Policy that You own. Such an exchange will be tax free if certain requirements are satisfied. If the exchange is tax free, Your investment in the Policy immediately after the exchange will generally be the same as that of the annuity Policy exchanged, increased by any additional Purchase Payment made as part of the exchange. Your Policy value immediately after the exchange may exceed Your investment in the Policy. That excess may be includable in income should amounts subsequently be withdrawn or distributed from the Policy (e.g., as a withdrawal, Surrender, annuity income payment or death benefit).

If You exchange part of an existing Policy for the Policy, and within 180 days of the exchange You received a payment other than certain annuity payments (e.g., You make a withdrawal) from either Policy, the exchange may not be treated as a tax free exchange. Rather, some or all of the amount exchanged into the Policy could be includible in Your income and subject to a 10% penalty tax.

You should consult Your financial professional in connection with an exchange of all or part of an annuity Policy for the Policy, especially if You may make a withdrawal from either Policy within 180 days after the exchange.

**Medicare Tax** 

Distributions from nonqualified annuity policies are considered "investment income" for purposes of the Medicare tax on investment income. Thus, in certain circumstances, a 3.8% tax may be applied to some or all of the taxable portion of distributions (e.g., earnings) to individuals, trusts, and estates whose income exceeds certain threshold amounts. We are required to report distributions

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made from nonqualified annuity policies as being potentially subject to this tax. While distributions from qualified policies are not subject to the tax, such distributions may be includable in income for purposes of determining whether certain Medicare Tax thresholds have been met. As such, distributions from Your qualified Policy could cause Your other investment income to be subject to the tax. Please consult a financial professional for more information.

**Same Sex Relationships** 

Same sex couples have the right to marry in all states. The parties to each marriage that is valid under the law of any state will each be treated as a spouse as defined in this Policy. Individuals in other arrangements, such as civil unions, registered domestic partnerships, or other similar arrangements, that are treated as spouses under the applicable state law, will each be treated as spouse as defined in this Policy for state law purposes. However, individuals in other arrangements, such as civil unions, registered domestic partnerships, or other similar arrangements, that are not recognized as marriage under the relevant state law, will not be treated as married or as spouses as defined in this Policy for federal tax purposes. Therefore, exercise of the spousal continuation provisions of this Policy or any riders by individuals who do not meet the definition of "spouse" may have adverse tax consequences and/or may not be permissible. **Please consult a financial professional for more information on this subject.** 

**Taxation of Death Benefit Proceeds** 

Amounts may be distributed from the Policy because of Your death or the death of the Annuitant. Generally, such amounts should be includable in the income of the recipient: (1) if distributed in a lump sum, these amounts are taxed in the same manner as a Surrender; (2) if distributed via withdrawals, these amounts are taxed in the same manner as a Withdrawal; or (3) if distributed under an annuity payment option, these amounts are taxed in the same manner as annuity payments.

**Transfers, Assignments or Exchanges of Policies** 

A transfer of ownership or assignment of a Policy, the designation of an Annuitant or payee or other beneficiary who is not also the Owner, the exchange of a Policy and certain other transactions, or a change of Annuitant other than the Owner, may result in certain income or gift tax consequences to the Owner that are beyond the scope of this discussion. There may be limitations on Your ability to transfer, assign or exchange a qualified Policy. An Owner contemplating any such transaction or designation should contact a competent financial professional with respect to the potential tax effects.

**Charges** 

It is possible that the IRS may take a position that fees for certain optional benefits (e.g., death benefits other than the Return of Premium death benefit) are deemed to be taxable distributions to You. In particular, the IRS may treat fees associated with certain optional benefits as a taxable withdrawal, which might also be subject to a tax penalty if the withdrawal occurs prior to Age 59½. Although we do not believe that the fees associated with any optional benefit provided under the Policy should be treated as taxable withdrawals, the tax rules associated with these benefits are unclear, and we advise that You consult Your financial professional prior to selecting any optional benefit under the Policy.

**Federal Estate, Gift and Generation-Skipping Transfer Taxes** 

The estate and gift tax unified credit basic exclusion amount applicable to individuals is $13.99 million for 2025 and $15 million for 2026. The maximum rate applicable to an estate that exceeds this limit is 40%.

There is no guarantee that the transfer tax exemptions and maximum rates will remain the same in the future. The uncertainty as to how the current law might be modified in coming years underscores the importance of seeking guidance from a competent legal adviser to help ensure that Your estate plan adequately addresses Your needs and that of Your Beneficiaries under all possible scenarios.

<u>Federal Estate Taxes</u>. While no attempt is being made to discuss the Federal estate tax implications of the Policy in detail, a purchaser should keep in mind that the value of an annuity Policy owned by a decedent and payable to a Beneficiary by virtue of surviving the decedent is included in the decedent's gross estate. Depending on the terms of the annuity Policy, the value of the annuity included in the gross estate may be the value of the lump sum payment payable to the designated Beneficiary or the actuarial value of the payments to be received by the Beneficiary. Consult an estate planning adviser for more information.

<u>Generation-Skipping Transfer Tax</u>. Under certain circumstances, the Code may impose a "generation skipping transfer tax" when all or part of an annuity Policy is transferred to, or a death benefit is paid to, an individual two or more generations younger than the Owner. Regulations issued under the Code may require us to deduct the tax from Your Policy, or from any applicable payment, and pay it directly to the IRS.

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**Qualified Policies** 

The qualified Policy is designed for use with several types of tax-qualified retirement plans which are briefly described below. The tax rules applicable to participants and beneficiaries in tax-qualified retirement plans vary according to the type of plan and the terms and conditions of the plan. Special favorable tax treatment may be available for certain types of contributions and distributions. Adverse tax consequences may result from contributions in excess of specified limits, distributions prior to age 59½ (subject to certain exceptions), distributions that do not conform to specified commencement and minimum distribution rules, and in other specified circumstances. The distribution rules under Section 72(s) of the Code do not apply to annuities provided under a plan described in Sections 401(a), 403(a), 403(b), 408 or 408A of the Code, but rather are subject to the required minimum distribution provisions in Section 401(a)(9) of the Code. Some retirement plans are subject to distribution and other requirements that are not incorporated into the policies or our Policy administration procedures. Owners, employers, participants, and beneficiaries are responsible for determining that contributions, distributions, and other transactions with respect to the policies to comply with applicable law.

<u>Distribution Requirements</u>. Under Section 401(a) and/or Section 401(k) Contracts, the underlying tax-qualified plan may require payment of the death benefit in the form of a "qualified pre-retirement survivor annuity," a "qualified joint and survivor annuity", or other payment method.

The information below generally applies to Owners who die in 2025 or later years. Post-death required distribution requirements are complex and frequently unclear. Please consult with Your financial professional for information relating to required post-death distributions or for information specific to Your own unique situation.

Upon a Owner's death, if the Owner does not have a Beneficiary who is an individual, the Owner's entire interest in the contract must generally be (1) distributed by the end of the calendar year ending five years after the date of death if the Owner died before the Owner was required to receive distributions under the contract or (2) at least as rapidly as the method being used as of the date of the Owner's death if the Owner died after the Owner was required to begin receiving distributions under the contract. An exception may apply if the Beneficiary is a trust, and all of the trust Beneficiaries are individuals. If the Owner has a Beneficiary, who is an individual, but is not an eligible designated Beneficiary, the Owner's entire interest in the contract must generally be distributed by the end of the calendar year ending ten years after the date of death.

If the Owner has a Beneficiary who is an eligible designated Beneficiary, the eligible designated Beneficiary may choose to receive the Owner's interest under the contract either:

● by the end of the calendar year ending ten years after the date of death

● as an annuity over the life of the eligible designated Beneficiary or over a period not extending beyond the life expectancy of that Beneficiary, provided that such distributions begin not later than one year after the date of the Owner's death.

An eligible designated Beneficiary is a Beneficiary who, meets any of the following criteria as of the date of the Owner's death:

● is the Owner's surviving spouse

● the Owner's child who has not reached the age of majority, but any remaining interest must be distributed within 10 years of when the child reaches the age of majority

● is disabled within the meaning of IRC section 72(m)(7)

● is chronically ill individual within the meaning of section 7702B(c)(2)

● is an individual who is not more than 10 years younger than the Owner.

If the Beneficiary is the Owner's spouse, distributions are not required to be made until the April 1st after the end of the calendar year in which the Owner would have attained age 73 If the Owner dies before distributions begin, the rules discussed above will apply as if the spouse were the Owner. If a spouse is the surviving Beneficiary, the spouse may elect to maintain an investment in the contract to the extent permitted by the Owner's retirement arrangement.

<u>Traditional Individual Retirement Annuities</u>. In order to qualify as a traditional individual retirement annuity under Section 408(b) of the Code, a Policy must satisfy certain conditions: (i) the Owner must be the Annuitant; (ii) the Policy generally is not transferable by the Owner, e.g., the Owner may not designate a new Owner, designate a contingent Owner or assign the Policy as collateral security; (iii) subject to special rules, the total Purchase Payments for any calendar year may not exceed the amount specified in the Code for the year, except in the case of a rollover amount or contribution under Section 402(c), 402(e)(6), 403(a)(4), 403(b)(8), 403(b)(10), 408(d)(3) or 457(e)(16) of the Code; (iv) annuity payments or Withdrawals according to the requirements in the IRS regulations (minimum required distributions) must begin by the <u>[Required Beginning Date](#reqbegdate)</u>; (v) an annuity payment option with a period certain that will guarantee annuity payments beyond the life expectancy of the Annuitant and the Beneficiary may not be selected; (vi) certain payments of death benefits must be made in the event the Annuitant dies prior to the distribution of the Policy value; (vii) the entire interest of the Owner is non-forfeitable; and (viii) the premiums must not be fixed. Policies intended to qualify as traditional

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individual retirement annuities under Section 408(b) of the Code contain such provisions. Amounts in the individual retirement annuity (other than nondeductible contributions) generally are taxed only when distributed from the annuity. Distributions prior to Age 59½ (unless certain exceptions apply) are subject to a 10% penalty tax.

SIMPLE and SEP IRAs are types of IRAs that allow employers to contribute to IRAs on behalf of their employees. SIMPLE IRAs permit certain small employers to establish SIMPLE plans as provided by section 408(p) of the Code, under which employees may elect to defer to a SIMPLE IRA a specified percentage of compensation. The sponsoring employer is required to make matching or non-elective contributions on behalf of employees. Distributions from SIMPLE IRAs are subject to the same restrictions that apply to IRA distributions. Subject to certain exceptions, distributions prior to Age 59½ are subject to a 10 percent penalty tax, which is increased to 25 percent if the distribution occurs within the first two years after the commencement of the employee's participation in the plan. SEP IRAs permit employers to make contributions to IRAs on behalf of their employees, up to a specified dollar amount for the year and subject to certain eligibility requirements as provided by Section 408(k) of the Code. Distributions from SEP IRAs are subject to the same rules that apply to IRA distributions and are taxed as ordinary income.

The IRS has not reviewed this Policy for qualification as a traditional IRA, SIMPLE IRA or SEP IRA, and has not addressed in a ruling of general applicability whether any death benefits available under the Policy comport with qualification requirements.

<u>Roth Individual Retirement Annuities (Roth IRA)</u>. The Roth IRA, under Section 408A of the Code, contains many of the same provisions as a traditional IRA. However, there are some differences. First, the contributions are not deductible and must be made in cash or as a rollover or transfer from another Roth IRA, a traditional IRA or other allowed qualified plan. A rollover from or conversion of an IRA to a Roth IRA may be subject to tax. The ability to make cash contributions to Roth IRAs is available to individuals with earned income and whose modified adjusted gross income is under a specified dollar amount for the year. Subject to special rules, the amount per individual that may be contributed to all IRAs (Roth and traditional) is an amount specified in the Code for the year. Secondly, the distributions are taxed differently. The Roth IRA offers tax-free distributions when made 5 tax years after the first contribution to any Roth IRA of the individual and made after one of the following: attaining Age 59½, to pay for qualified first time home buyer expenses (lifetime maximum of $10,000), or due to death or disability. All other distributions are subject to income tax when made from earnings and may be subject to a penalty tax unless an exception applies. Please note that specific tax ordering rules apply to Roth IRA distributions. Unlike the traditional IRA, there are no minimum required distributions during the Owner's lifetime; however, minimum required distributions at death are generally the same as for traditional IRAs.

The IRS has not reviewed this Policy for qualification as a ROTH IRA, and has not addressed in a ruling of general applicability whether any death benefits available under the Policy comport with qualification requirements.

<u>Section 403(b) Plans</u>. Under Section 403(b) of the Code, payments made by public school systems and certain tax exempt organizations to purchase policies for their employees are generally excludable from the gross income of the employee, subject to certain limitations. However, such payments may be subject to Federal Insurance Contributions Act (FICA or Social Security) taxes. The Policy includes a death benefit that in some cases may exceed the greater of the Purchase Payments or the Policy value. Additionally, in accordance with the requirements of the Code, Section 403(b) annuities generally may not permit distribution of (i) elective contributions made in years beginning after December 31, 1988, and (ii) earnings on those contributions, and (iii) earnings on amounts attributed to elective contributions held as of the end of the last year beginning before January 1, 1989, unless certain events have occurred. Specifically, distributions of such amounts will be allowed only upon the death of the employee, on or after attainment of Age 59½, severance from employment, disability, or financial hardship, except that income attributable to elective contributions may not be distributed in the case of hardship. These rules may prevent the payment of guaranteed withdrawals under a guaranteed lifetime withdrawal benefit prior to Age 59½. For policies issued after 2008, amounts attributable to non-elective contributions may be subject to distribution restrictions specified in the employer's section 403(b) plan. Employers using the Policy in connection with Section 403(b) plans may wish to consult with their financial professional.

Pursuant to tax regulations, we generally are required to confirm, with Your 403(b) plan sponsor or otherwise, that Surrenders, loans or transfers You request from a 403(b) Policy comply with applicable tax requirements before we process Your request. We will defer such payments You request until all information required under the tax law has been received. By requesting a Surrender or transfer, You consent to the sharing of confidential information about You, the Policy, and transactions under the Policy and any other 403(b) policies or accounts You have under the 403(b) plan among us, Your employer or plan sponsor, any plan administrator or record keeper, and other product providers.

<u>Pension and Profit-Sharing Plans</u>. Sections 401(a) and 403(a) of the Code permit corporate employers to establish various types of retirement plans for employees and self-employed individuals to establish qualified plans for themselves and their employees. Such retirement plans may permit the purchase of the policies to accumulate retirement savings. Adverse tax consequences to the plan, the participant or both may result if the Policy is assigned or transferred to any individual as a means to provide benefit payments. Contributions to and distributions from such plans are limited by the Code and may be subject to penalties.

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<u>Deferred Compensation Plans</u>. Section 457(b) of the Code, while not actually providing for a qualified plan as that term is normally used, provides for certain deferred compensation plans established and maintained by state and local governments (and their agencies and instrumentalities) and tax exempt organizations. Under such plans a participant may be able to specify the form of investment in which his or her participation will be made. For non-governmental Section 457(b) plans, all such investments, however, are typically owned by, and are subject to, the claims of the general creditors of the sponsoring employer. Depending on the terms of the particular plan, a non-government employer may be entitled to draw on deferred amounts for purposes unrelated to its Section 457(b) plan obligations. In general, all amounts received under a non-governmental Section 457 plan are taxable in the year paid (or in the year paid or made available in the case of a non-governmental 457(b) plan). Distributions from non-governmental 457(b) plans are subject to federal income tax withholding as wages, distributions from governmental 457(b) plans are subject to withholding as "eligible rollover distributions" as described in the section entitled <u>Withholding</u> below. Contributions to and distributions from such plans are limited by the Code and may be subject to penalties. Deferred compensation plans of governments and tax-exempt entities that do not meet the requirements of Section 457(b) are taxed under Section 457(f), which means compensation deferred under the plan is included in gross income in the first year in which the compensation is not subject to substantial risk of forfeiture.

**Ineligible Owners-Qualified** 

We currently will not issue new policies to/or for the following plans: 403(a), 403(b), 412(i)/412(e)(3), 419, 457 (we will in certain limited circumstances accept 457(f) plans), employee stock ownership plans, Keogh/H.R.-10 plans and any other types of plans at our sole discretion.

**Taxation of Surrenders and Withdrawals - Qualified Policies** 

In the case of a withdrawal under a qualified Policy (other than from a deferred compensation plan under Section 457 of the Code), a pro rata portion of the amount You receive is taxable, generally based on the ratio of Your "investment in the Policy" to Your total account balance or accrued benefit under the retirement plan. Your "investment in the Policy" generally equals the amount of any non-deductible Purchase Payments made by You or on Your behalf. If You do not have any non-deductible Purchase Payments, Your investment in the Policy will be treated as zero.

In addition, a penalty tax may be assessed on amounts surrendered from the Policy prior to the date You reach age 59½, unless You meet one of the exceptions to this rule which are similar to the penalty exceptions for distributions from nonqualified policies discussed above. However, the exceptions applicable for qualified policies differ from those provided to nonqualified policies. You should consult a financial professional for more information regarding the application of these exceptions to Your circumstances. You may also be required to begin taking minimum distributions from the Policy by a certain date. The terms of the plan may limit the rights otherwise available to You under the Policy.

**Qualified Plan Required Distributions** 

For qualified plans under Section 401(a), 403(a), 403(b), and 457, the Code requires that distributions generally must commence no later than the Required Beginning Date or (ii) retires and must be made in a specified form or manner. if a participant in a qualified plan is a "5 percent Owner" (as defined in the Code), or in the case of an IRA (other than a Roth IRA which is not subject to the lifetime required minimum distribution rules), distributions generally must begin by the Required Beginning Date. The actuarial present value of death and/or living benefit options and riders elected may need to be taken into account in calculating required minimum distributions. Please consult with a financial professional to learn more about an optional living or death benefit prior to purchase.

Each Owner is responsible for requesting distributions under the Policy that satisfy applicable tax rules. We do not attempt to provide more than general information about the use of the Policy with the various types of retirement plans. Purchasers of policies for use with any retirement plan should consult their legal counsel and financial professional regarding the suitability of the Policy.

The Code generally requires that interest in a qualified Policy be non-forfeitable. If Your Policy contains a bonus rider with a recapture, forfeiture, or "vesting" feature, it may not be consistent with those requirements. Consult a financial professional before purchasing a bonus rider as part of a qualified Policy.

You should consult Your legal counsel or financial professional if You are considering purchasing an enhanced death benefit or other optional rider, or if You are considering purchasing a Policy for use with any qualified retirement plan or arrangement.

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**Optional Living Benefits** 

For policies with a guaranteed lifetime withdrawal benefit or a guaranteed maximum accumulation benefit the application of certain tax rules, particularly those rules relating to distributions from Your Policy, are not entirely clear. The tax rules for qualified policies may impact the value of these optional benefits. Additionally, the actions of the qualified plan as Policy holder may cause the qualified plan participant to lose the benefit of the guaranteed lifetime withdrawal benefit. In view of this uncertainty, You should consult a financial professional before purchasing this Policy as a qualified Policy.

**Withholding** 

The portion of any distribution under a Policy that is includable in gross income will be subject to federal income tax withholding unless the recipient of such distribution elects not to have federal income tax withheld. Election forms will be provided at the time distributions are requested or taken. The amount of withholding varies according to the type of distribution. The withholding rates applicable to the taxable portion of periodic payments (other than eligible rollover distributions) are the same as the withholding rates generally applicable to payments of wages. A 10% withholding rate applies to the taxable portion of non-periodic payments. Regardless of whether You elect not to have federal income tax withheld, You are still liable for payment of federal income tax on the taxable portion of the payment. For qualified policies, "eligible rollover distributions" from Section 401(a) plans, Section 403(a) annuities, Section 403(b) tax-sheltered annuities, and governmental 457 plans are subject to a mandatory federal income tax withholding of 20%. An eligible rollover distribution is any distribution from such a plan, other than specified distributions such as distributions required by the Code, distributions in a specified annuity form or hardship distributions. The 20% withholding does not apply, however, to nontaxable distributions or if (i) the employee (or employee's spouse or former spouse as beneficiary or alternate payee) chooses a "direct rollover" from the plan to a tax-qualified plan, IRA, Roth IRA or 403(b) tax-sheltered annuity or to a governmental 457 plan that agrees to separately account for rollover contributions; or (ii) a non-spouse beneficiary chooses a "direct rollover" from the plan to an IRA established by the direct rollover.

**Annuity Purchases by Residents of Puerto Rico** 

The IRS has announced that income received by residents of Puerto Rico under life insurance or annuity policies issued by a Puerto Rico branch of a United States life insurance company is U.S.-source income that is generally subject to United States federal income tax.

**Annuity Policies Purchased by Non-resident Aliens and Foreign Corporations** 

The discussion above provided general information (but not tax advice) regarding U.S. federal income tax consequences to annuity Owners that are U.S. persons. Taxable distributions made to Owners who are not U.S. persons will generally be subject to U.S. federal income tax withholding at a 30% rate, unless a lower treaty rate applies. In addition, distributions may be subject to state and/or municipal taxes and taxes that may be imposed by the Owner's country of citizenship or residence. Prospective foreign Owners are advised to consult with a qualified financial professional regarding U.S., state, and foreign taxation for any annuity Policy purchase.

**Foreign Account Tax Compliance Act ("FATCA")** 

If the payee of a distribution from the Policy is a foreign financial institution ("FFI") or a non-financial foreign entity ("NFFE") within the meaning of the Code as amended by the Foreign Account Tax Compliance Act ("FATCA"), the distribution could be subject to U.S. federal withholding tax on the taxable amount of the distribution at a 30% rate irrespective of the status of any Beneficial Owner of the Policy or the distribution. The rules relating to FATCA are complex, and a financial professional should be consulted if an FFI or NFFE is or may be designated as a payee with respect to the Policy.

**Possible Tax Law Changes** 

Although the likelihood and nature of legislative or regulatory changes is uncertain, there is always the possibility that the tax treatment of the Policy could change by legislation, regulation, or otherwise. You should consult a financial professional with respect to legal or regulatory developments and their effect on the Policy.

We have the right to modify the Policy to meet the requirements of any applicable laws or regulations, including legislative changes that could otherwise diminish the favorable tax treatment that annuity Owners currently receive.

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**OTHER INFORMATION**

**Sending Forms and Transaction Requests in Good Order** 

We cannot process Your requests for transactions relating to the Policy until they are received in good order. "Good order" means the actual receipt of the instructions relating to the requested transaction in writing (or, when appropriate, by telephone or electronically), along with all forms, information and supporting legal documentation necessary to effect the transaction. This information and documentation generally includes, to the extent applicable to the transaction: Your completed application; the Policy number; the transaction amount (in dollars or percentage terms); the names and allocations to and/or from the <u>Subaccounts</u> affected by the requested transaction; the dated signatures of all <u>Owners</u> (exactly as registered on the Policy) if necessary; Social Security Number or Taxpayer I.D.; and any other information or supporting documentation that we may require, including any spousal or joint Owner's consents. With respect to purchase requests, "good order" also generally includes receipt of sufficient funds to effect the purchase. We may, in our sole discretion, determine whether a particular transaction request is in good order, and we reserve the right to change or waive any good order requirements at any time.

"Received" or receipt in good order generally means that everything necessary must be received *by us*, at our <u>Administrative Office</u> specified in the Glossary of Terms. We reserve the right to reject electronic transactions that do not meet our requirements.

**Regulatory Modifications to Policy** 

We reserve the right to amend the Policy or any riders attached thereto as necessary to comply with specific direction provided by state or federal regulators, through change of law, rule, regulation, bulletin, regulatory directives or agreements.

**Anti-Money Laundering (AML) and Sanctions** 

The Company and the Separate Account are subject to laws and regulations designed to combat money laundering and terrorist financing. The Company, on its own behalf and on behalf of the Separate Account, has implemented and operates an anti-money laundering ("AML") program. The Company shall not be held liable for any losses that an Owner, Annuitant, or beneficiary may incur as a result of actions taken to prevent suspected violations of AML laws, rules, and regulations.

The Company and the Separate Account are subject to the provisions of various sanctions programs administered and enforced by the U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC"). These programs prohibit financial institutions from doing business with certain identified enemies of the United States as set forth in various lists maintained by OFAC. Depending on the program under which a transaction falls, financial institutions must either (i) reject and report the transaction, or (ii) block the transaction, place the funds or assets in a separate blocked transaction account, and report the matter to OFAC. In order to comply with OFAC requirements, the Company reviews applicants, Owners, and Annuitants against the OFAC list and stops processing and rejects any transaction from an individual or entity who is listed on the OFAC list. The Company only accepts premium payments that are not subject to sanctions and in United States currency.

If an Owner or Annuitant is subject to sanctions, the Company is required to block access to an Owner's Policy and thereby refuse to pay any request for partial withdrawals, surrenders, or other distributions until permitted by OFAC. Further, if additional premium payments are received, we are required under applicable U.S. laws and regulations to place such funds in the blocked account as well. In addition, the Company may be required to block a beneficiary's request for payment of death benefit proceeds. Blocking access may include transferring Cash Value and death benefit proceeds to the Fixed Account or money market subaccount until permitted by OFAC. The Company shall not be held liable for any losses that an Owner, Annuitant, or beneficiary may incur as a result of sanctions.

**Mixed and Shared Funding** 

The <u>Underlying Fund Portfolios</u> may serve as investment vehicles for variable life insurance policies, variable annuity policies and retirement plans ("mixed funding") and shares of the Underlying Fund Portfolios also may be sold to Separate Accounts of other insurance companies ("shared funding"). While we currently do not foresee any disadvantages to Owners and participants arising from either mixed or shared funding, it is possible that the interests of Owners of various policies and/or participants in various plans for which the Underlying Fund Portfolios serve as investments might at some time be in conflict. We and each Underlying Fund Portfolio's Board of Directors intend to monitor events in order to identify any material conflicts and to determine what action, if any, to take. Such action could include the sale of Underlying Fund Portfolio shares by one or more of the Separate Accounts, which could have adverse consequences. Such action could also include a decision that separate funds should be established for variable life and variable annuity Separate Accounts. In such an event, we would bear the attendant expenses, but Owners and plan participants would no longer have the economies of scale resulting from a larger combined fund. Please read the prospectuses for the Underlying Fund Portfolios, which discuss the Underlying Fund Portfolios' risks regarding mixed and shared funding, as applicable.

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**Abandoned or Unclaimed Property** 

Every state has unclaimed property laws that generally provide for escheatment to the state of unclaimed property (including proceeds of annuity, life and other insurance policies) under various circumstances. In addition to the state unclaimed property laws, we may be required to escheat property pursuant to regulatory demand, finding, agreement or settlement. To help prevent such escheatment, it is important that <u>You</u> keep Your contact and other information on file with us up to date, including the names, contact information and identifying information for Owners, insureds, Annuitants, <u>Beneficiaries</u> and other payees. Such updates should be communicated in a form and manner satisfactory to us.

**Legal Proceedings** 

We, like other life insurance companies, are subject to regulatory and legal proceedings in the ordinary course of our business. Such legal and regulatory matters include proceedings specific to us and other proceedings generally applicable to business practices in the industry in which we operate. In some lawsuits and regulatory proceedings involving insurers, substantial damages have been sought and/or material settlement payments have been made. Although the outcome of any litigation or regulatory proceeding cannot be predicted with certainty, at the present time, we believe that there are no pending or threatened proceedings or lawsuits that are likely to have a material adverse impact on the Separate Account, on TCL's ability to perform under its principal underwriting agreement, or on our ability to meet our obligations under the Policy.

**Distribution of the Policies** 

***Distribution and Principal Underwriting Agreement.*** We have entered into a principal underwriting agreement with our affiliate, Transamerica Capital, LLC (TCL), for the distribution and sale of the policies. We pay commissions to TCL which are passed through to selling firms. (*See* below). We also pay TCL an "override" that is a percentage of total commissions paid on sales of our policies which is not passed through to the selling firms and we may reimburse TCL for certain expenses it incurs in order to pay for the distribution of the policies.

We have discontinued new sales of the policies. You may, however, continue to make Purchase Payments to fund Your Policy pursuant to its terms, and exercise all other rights and options under Your Policy - such as reallocating Your Policy value among investment choices, making Withdrawals and full Surrenders, and making changes of ownership of Your Policy.

***Compensation to Broker-Dealers Who Sold the Policies.*** The policies have been offered to the public through broker-dealers ("selling firms") that are licensed under the federal securities laws; the selling firm and/or its affiliates are also licensed under state insurance laws. The selling firms have entered into written selling agreements with us and with TCL as principal underwriter for the policies. We pay ongoing commissions through TCL to the selling firms for their past sales of the policies.

The selling firms were paid commissions for the promotion and sale of the policies according to one or more schedules. The amount and timing of commissions varies depending on the selling agreement, but the maximum commission is 6% of Purchase Payment (additional amounts may be paid as overrides to wholesalers).

To the extent permitted by Financial Industry Regulatory Authority (FINRA) rules, the Company, TCL, Transamerica Financial Advisors, Inc. (TFA) and other affiliated parties may pay (or allow other broker-dealers to provide) promotional incentives or payments in the form of cash or non-cash compensation or reimbursement to some, but not all, selling firms and their sales representatives. These arrangements are described further below.

The sales representative who sold You the Policy may receive a portion of the compensation we (and our affiliates) pay to the selling firms, depending on the agreement between the selling firm and its registered representative and the firm's internal compensation program. These programs may include other types of cash and non-cash compensation and other benefits. Ask Your sales representative for further information about the compensation Your sales representative, and the selling firm that employs Your sales representative, may continue to receive in connection with Your Policy. Also inquire about any ongoing compensation arrangements that we and our affiliates may have with the selling firm, including the conflicts of interests that such arrangements may create.

You should be aware that a selling firm or its sales representatives may have received different compensation or incentives for selling one product over another. In some cases, these differences may have created an incentive for the selling firm or its sales representatives to have recommended or sold this Policy to You.

**Special Compensation Paid to Affiliated Firms.** We and/or our affiliates may provide paid-in capital to TCL. We and/or our affiliates also provide TCL with a percentage of total commissions paid on sales of our policies and provide TCL with capital payments that are not contingent on sales.

The Company's main distribution channel is TFA, an affiliate, who sell the Company's products.

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The Company covers the cost of TFA's various facilities, third-party services and internal administrative functions, including employee salaries, sales representative training and computer systems that are provided directly to TFA. These facilities and services are necessary for TFA's administration and operation, and the Company is compensated by TFA for these expenses based on TFA's usage. In addition, the Company and other affiliates pay for certain sales expenses of TFA, including the costs of preparing and producing prospectuses and other documents for the Policy that are distributed to current Owners of the Policy.

TFA pays its branch managers a portion of the commissions received from the Company for the sale of the policies. Sales representatives receive a portion of the commissions for their sales of policies in accordance with TFA's internal compensation programs.

Sales representatives and their managers at TFA may receive, directly or indirectly, additional cash benefits and non-cash compensation or reimbursements from us or our affiliates. Additional compensation or reimbursement arrangements may include payments in connection with TFA's conferences or seminars, sales or training programs for invited selling representatives and other employees, seminars for the public, trips (such as travel, lodging and meals in connection therewith), entertainment, merchandise and other similar items, and payments, loans, loan guaranties, or loan forgiveness to assist a firm or a representative in connection with systems, operating, marketing and other business expenses. The amounts may be significant and may provide us with increased access to the sales representatives.

In addition, TFA's managers and/or sales representatives who meet certain productivity standards may be eligible for additional compensation. Sales of the policies by affiliated selling firms may help sales representatives and/or their managers qualify for certain cash and non-cash benefits, and may provide such persons with special incentive to sell our policies. For example, TFA's registered representatives, general agents, marketing directors and supervisors may be eligible to participate in a voluntary stock purchase plan that permits participants to purchase stock of Aegon Ltd. (the Company's ultimate parent) by allocating a portion of the commissions they earn to purchase such shares. A portion of the contributions of commissions by TFA's representatives may be matched by TFA.

TFA's registered representatives may also be eligible to participate in a stock option and award plan. Registered representatives who meet certain production goals will be issued options on the stock of Aegon Ltd.

**Additional Compensation that We, TCL and/or our Affiliates Pay to Selected Selling Firms.** We may continue to pay certain selling firms additional cash amounts in order to receive enhanced marketing services and increased access to their sales representatives. These special compensation arrangements are not offered to all selling firms, and the terms of such arrangements may differ between selling firms.

During 2025, in general, payments calculated as a percentage of sales ranged from 8 basis point (0.08%) to 50 basis points (0.50%), payments calculated as a percentage of assets under management ranged from 2 basis points (0.02%) to 16 basis points (0.16%), and flat annual fees ranged from $3,000.00 to $655,299.95 (calculated after revenue sharing offsets for sales), which included at times payments for a series of meetings and/or events of other broker-dealers and banks.

As of December 31, 2025, TCL had revenue sharing agreements with more than 71 broker dealers and other financial intermediaries including, without limitation:

Ameriprise Financial Services, Inc.; Advisor Group, Inc./Osaic, Inc. (Osaic Wealth, Inc., SagePoint, Securities America, Triad, American Portfolios, and Osaic Institutions); Atria Wealth Solutions, Inc. (Cadaret Grant & Co., CUSO Financial, Grove Point Investments, Next Financial, SCF Securities, and Western International Securities, Inc.); Cambridge Investment Research; Centaurus Financial, Inc.; Aretec Group, Inc./Cetera Financial Group, Inc. (Avantax Insurance Agency, Cetera Advisors, LLC, Cetera Advisor Networks, LLC, Cetera Financial Specialists, LLC, Cetera Investment Services, LLC, Cetera Wealth Services,); CFD Investments Inc.; Charles Schwab; Citigroup Global Markets, Inc.; Clear Financial; Commonwealth Financial Network; Community America Financial Solutions LLC/Copper Financial; D.A. Davidson & Co., Inc.; Edward Jones; EF Legacy Securities; Equitable Advisors, LLC; Equity Services, Inc.; Financial Data Services, Inc.; First Trust; Geneos Wealth Management; Great West Financial; Hantz Financial Services, Inc.; Hornor Townsend & Kent Inc.; Independent Financial Group, LLC; Janney Montgomery Scott; J.P. Morgan Securities LLC; Kestra Investment Services; Lincoln Investment; Lion Street Financial; LPL Financial Corp.; Logan Group Securities; Merrill Lynch; Morgan Stanley Smith Barney; MML Investors Services; Mutual of Omaha Investor Services Inc.; National Financial Services, Inc.; Nations Financial Group Inc.; OneAmerica Securities Inc.; Oppenheimer & Co.; Park Avenue Securities; Pershing LLC; Principal Connectivity; PNC Investments; Raymond James and Associates, Inc.; Raymond James Financial Services, Inc.; RBC Capital Markets; Stifel Nicolaus & Company Inc.; Trinity Wealth Securities LLC; UBS Financial Services, Inc.; United Planners Financial Services of America; US Bancorp Investments, Inc.; Voya Financial Advisors, Inc.; and Wells Fargo Advisors, LLC.

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For the calendar year ended December 31, 2025, TCL paid approximately $41 million to these brokers and other financial intermediaries in connection with revenue sharing arrangements. TCL expects to have revenue sharing arrangements with a number of brokers and other financial intermediaries in 2026, including some or all of the foregoing brokers and financial intermediaries, among others, on terms similar to those discussed above.

No specific charge is assessed directly to Owners or the Separate Account to cover commissions, non-cash compensation, and other incentives or payments described above. We do intend to recoup commissions and other sales expenses and incentives we pay, however, through fees and charges deducted under the Policy and other corporate revenue.

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***APPENDIX A***

**investment options AVAILABLE UNDER THE POLICY** 

The following is a list of current Portfolio Companies available under the Policy, which are subject to change as discussed in this prospectus.

Certain Subaccounts may not be available in all states, at all times or through all financial intermediaries. We may discontinue offering any Subaccount at any time. In some cases, a Subaccount not available through a financial intermediary may be obtained by contacting us directly. For more information on the options available for electing a Subaccount, please contact our Administrative Office.

More information about the Portfolio Companies is available in the prospectuses for the Portfolio Companies, which may be amended from time to time and can be found online at http://dfinview.com/Transamerica/TAHD/89358R382?site=VAVUL. You can also request this information at no cost by calling our <u>Administrative Office</u> at (800)851-9777.

The current expenses and performance below reflects fee and expenses of the Portfolio Companies, but do not reflect the other fees and expenses that Your Policy may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Portfolio Company's past performance is not necessarily an indication of future performance.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | **Average Annual Total Returns (as of 12/31/25)** | **Average Annual Total Returns (as of 12/31/25)** | **Average Annual Total Returns (as of 12/31/25)** |
| **Investment Objective** | **Underlying Fund Portfolios and Advisers/Sub-adviser<sup>(1)</sup>** | **Current Expenses** | **1 year** | **5 years** | **10 years** |
| Seeks to provide investment results that correspond generally to the total return of the high yield market consistent with maintaining reasonable liquidity. | ProFund Access VP High Yield<br> Advised by: ProFund Advisors LLC | 1.64% | 6.24% | 2.85% | 3.92% |
| Seeks investment results,<br> before fees and expenses, that track the performance of the ProFunds Asia 30 Index (the "Index"). | ProFund VP Asia 30<br> Advised by: ProFund Advisors LLC | 1.72% | 24.12% | -2.31% | 5.18% |
| Seeks investment results, before fees and expenses, that track the performance of the S&P 500®<br> Index (the "Index") | ProFund VP Bull<br> Advised by: ProFund Advisors LLC | 1.68% | 15.56% | 12.18% | 12.55% |
| Seeks investment results, before fees and expenses, that track the performance of the S&P Communication Services Select Sector Index (the "Index"). | ProFund VP Communication Services<br> Advised by: ProFund Advisors LLC | 1.70% | 20.91% | 14.55% | 8.97% |
| To seek investment results, before fees and expenses, that track the performance of the S&P Consumer Discretionary Select Sector Index. | ProFund VP Consumer Discretionary<br> Advised by: ProFund Advisors LLC | 1.72% | 5.51% | 5.53% | 10.01% |
| To seek investment results, before fees and expenses, that track the performance of<br> the S&P® Emerging 50 ADR Index (USD) (the "Index"). | ProFund VP Emerging Markets<br> Advised by: ProFund Advisors LLC | 1.74% | 36.13% | 3.07% | 8.66% |
| To seek investment results, before fees and expenses, that track the performance of the S&P Energy Select Sector Index (the "Index"). | ProFund VP Energy<br> Advised by: ProFund Advisors LLC | 1.71% | 5.86% | 21.01% | 5.88% |
| To seek investment results, before fees and expenses, that track the performance of the ProFunds Europe 30 Index (the "Index") | ProFund VP Europe 30<br> Advised by: ProFund Advisors LLC | 1.72% | 29.59% | 12.78% | 8.01% |
| To seek daily investment results, before fees and expenses, that correspond to the daily performance of the ICE U.S. Dollar Index. | ProFund VP Falling U.S. Dollar<br> Advised by: ProFund Advisors LLC | 2.86% | 10.81% | -1.85% | -1.14% |
| To seek daily investment results, before fees and expenses, that track the performance of the S&P<br> Financial Select Sector Index (the "Index") | ProFund VP Financials<br> Advised by: ProFund Advisors LLC | 1.69% | 12.90% | 12.77% | 11.04% |

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**investment options AVAILABLE UNDER THE POLICY — (Continued)**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | **Average Annual Total Returns (as of 12/31/25)** | **Average Annual Total Returns (as of 12/31/25)** | **Average Annual Total Returns (as of 12/31/25)** |
| **Investment Objective** | **Underlying Fund Portfolios and Advisers/Sub-adviser<sup>(1)</sup>** | **Current Expenses** | **1 year** | **5 years** | **10 years** |
| To seek a high level of current income consistent with liquidity and preservation of capital. | ProFund VP Government Money Market<br> Advised by: ProFund Advisors LLC | 1.66% | 3.27% | 2.54% | 1.39% |
| To seek investment results, before fees and expenses, that track the performance of the MSCI EAFE Index (the "Index"). | ProFund VP International<br> Advised by: ProFund Advisors LLC | 1.67% | 27.97% | 6.29% | 5.60% |
| To seek investment results, before fees and expenses, that track the performance of the Nikkei 225 Stock Average (the "Index"). | ProFund VP Japan<br> Advised by: ProFund Advisors LLC | 1.68% | 30.69% | 14.99% | 11.39% |
| To seek investment results, before fees and expenses, that track the performance of the S&P Materials Select Sector Index. | ProFund VP Materials<br> Advised by: ProFund Advisors LLC | 1.71% | 8.05% | 6.41% | 8.42% |
| To seek investment results, before fees and expenses, that track the performance of the S&P MidCap 400® Index (the "Index"). | ProFund VP Mid-Cap<br> Advised by: ProFund Advisors LLC | 1.68% | 4.78% | 6.63% | 8.22% |
| To seek investment results, before fees and expenses, that track the performance of the Nasdaq-100® Index (the "Index"). | ProFund VP NASDAQ-100<br> Advised by: ProFund Advisors LLC | 1.68% | 18.62% | 12.94% | 17.28% |
| To seek investment results, before fees and expenses, that track the performance of the S&P Pharmaceuticals Select Industry Index (the "Index"). | ProFund VP Pharmaceuticals<br> Advised by: ProFund Advisors LLC | 1.69% | 29.34% | 5.70% | 5.37% |
| To seek investment results, before fees and expenses, that track the performance of the Dow Jones Precious MetalsSM Index (the "Index"). | ProFund VP Precious Metals<br> Advised by: ProFund Advisors LLC | 1.68% | 150.31% | 17.01% | 18.89% |
| To seek daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the S&P Emerging 50 ADR Index (USD) (the "Index"). | ProFund VP Short Emerging Markets<br> Advised by: ProFund Advisors LLC | 1.69% | -26.15% | -6.13% | -12.36% |
| To seek daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the MSCI EAFE Index (the "Index"). | ProFund VP Short International<br> Advised by: ProFund Advisors LLC | 1.62% | -20.81% | -6.46% | -8.23% |
| To seek daily investment results, before fees and expenses, that correspond to the inverse (-1x) of daily performance of the Nasdaq-100® Index (the "Index") . | ProFund VP Short NASDAQ-100<br> Advised by: ProFund Advisors LLC | 1.75% | -15.80% | -13.57% | -18.48% |
| To seek daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Russell 2000® Index. | ProFund VP Short Small-Cap<br> Advised by: ProFund Advisors LLC | 1.78% | -10.08% | -6.50% | -11.77% |
| To seek investment results, before fees and expenses, that track the performance of the Russell 2000® Index (the "Index"). | ProFund VP Small-Cap<br> Advised by: ProFund Advisors LLC | 1.87% | 10.86% | 4.23% | 7.63% |
| To seek investment results, before fees and expenses, that track the performance of the S&P SmallCap 600® Value Index (the "Index"). | ProFund VP Small-Cap Value<br> Advised by: ProFund Advisors LLC | 1.73% | 5.00% | 7.17% | 7.81% |

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**investment options AVAILABLE UNDER THE POLICY — (Continued)**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | **Average Annual Total Returns (as of 12/31/25)** | **Average Annual Total Returns (as of 12/31/25)** | **Average Annual Total Returns (as of 12/31/25)** |
| **Investment Objective** | **Underlying Fund Portfolios and Advisers/Sub-adviser<sup>(1)</sup>** | **Current Expenses** | **1 year** | **5 years** | **10 years** |
| To seek daily investment results, before fees and expenses, that correspond to one and one-quarter time (1.25x) the daily performance of the most recently issued 30-Year U.S. Treasury Bond (the "Long Bond"). | ProFund VP U.S. Government Plus<br> Advised by: ProFund Advisors LLC | 1.42% | 1.17% | -13.73% | -3.45% |
| To seek daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Russell 2000® Index. | ProFund VP UltraSmall-Cap<br> Advised by: ProFund Advisors LLC | 1.84% | 12.93% | 1.23% | 8.81% |
| To seek investment results, before fees and expenses, that track the performance of the S&P Utilities Select Sector Index. | ProFund VP Utilities<br> Advised by: ProFund Advisors LLC | 1.70% | 13.98% | 7.78% | 8.61% |
| To seek to provide high total return through a combination of current income and capital appreciation. | Transamerica Aegon Bond VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: Aegon USA Investment Management, LLC | 0.53% | 7.13% | -0.34% | 2.08% |
| To seek to achieve maximum total return. | Transamerica Aegon Core Bond VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: Aegon USA Investment Management, LLC | 0.48% | 6.99% | -0.14% | 2.09% |
| To seek a high level of current income by investing in high-yield debt securities. | Transamerica Aegon High Yield Bond VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: Aegon USA Investment Management, LLC | 0.64% | 8.46% | 4.12% | 5.91% |
| To seek total return gained from the combination of dividend yield, growth of dividends and capital appreciation. | Transamerica Aegon Sustainable Equity Income VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: Aegon USA Investment Management UK plc | 0.72% | 11.26% | 8.39% | 7.35% |
| To seek to provide as high a level of total return as is consistent with prudent investment strategies. | Transamerica Aegon U.S. Government Securities VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: Aegon USA Investment Management, LLC | 0.59% | 5.85% | -1.28% | 1.18% |
| To seek as high a level of current income as is consistent with preservation of capital and liquidity. | Transamerica BlackRock Government Money Market VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: BlackRock Investment Management, LLC<sup>(2)</sup> | 0.29% | 4.07% | 3.05% | 1.91% |
| To seek to maximize total return. | Transamerica BlackRock Real Estate Securities VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: BlackRock Investment Management, LLC | 0.86% | 9.51% | 2.64% | 3.65% |
| To seek capital appreciation with current income as a secondary objective. | Transamerica BlackRock Tactical Allocation VP - Service<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: BlackRock Investment Management, LLC | 0.97% | 11.72% | 5.42% | 6.81% |
| To seek current income and preservation of capital. | Transamerica BlackRock iShares Active Asset Allocation - Conservative VP - Service<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: BlackRock Investment Management, LLC | 0.93% | 8.65% | 2.65% | 4.17% |
| To seek capital appreciation with current income as a secondary objective. | Transamerica BlackRock iShares Active Asset Allocation - Moderate Growth VP - Service<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: BlackRock Investment Management, LLC | 0.94% | 10.64% | 5.18% | 4.94% |
| To seek long-term capital appreciation and capital preservation. | Transamerica BlackRock iShares Edge 40 VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: BlackRock Investment Management, LLC | 0.46% | 11.64% | 3.47% | 4.90% |

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**investment options AVAILABLE UNDER THE POLICY — (Continued)**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | **Average Annual Total Returns (as of 12/31/25)** | **Average Annual Total Returns (as of 12/31/25)** | **Average Annual Total Returns (as of 12/31/25)** |
| **Investment Objective** | **Underlying Fund Portfolios and Advisers/Sub-adviser<sup>(1)</sup>** | **Current Expenses** | **1 year** | **5 years** | **10 years** |
| To seek a combination of capital appreciation and income. | Transamerica BlackRock iShares Tactical - Balanced VP - Service<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: BlackRock Investment Management, LLC | 0.92% | 13.00% | 3.04% | 5.22% |
| To seek a combination of capital appreciation and income. | Transamerica BlackRock iShares Tactical - Conservative VP - Service<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: BlackRock Investment Management, LLC | 0.94% | 10.65% | 1.67% | 4.43% |
| To seek a combination of capital appreciation and income. | Transamerica BlackRock iShares Tactical - Growth VP - Service<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: BlackRock Investment Management, LLC | 0.95% | 15.58% | 5.65% | 6.85% |
| To seek to balance capital appreciation and income. | Transamerica Goldman Sachs Managed Risk - Balanced ETF VP - Service<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: Goldman Sachs Asset Management, L.P. | 0.63% | 10.77% | 5.10% | 5.67% |
| To seek capital appreciation as a primary objective and income as a secondary objective. | Transamerica Goldman Sachs Managed Risk - Growth ETF VP - Service<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: Goldman Sachs Asset Management, L.P. | 0.66% | 12.27% | 7.84% | 7.65% |
| To seek long-term capital appreciation. | Transamerica International Focus VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: Sands Capital Management, LLC | 0.83% | 6.47% | 0.99% | 5.45% |
| To seek current income and preservation of capital. | Transamerica JPMorgan Asset Allocation - Conservative VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: J.P. Morgan Investment Management, Inc. | 0.71% | 10.63% | 2.33% | 4.91% |
| To seek capital appreciation with current income as a secondary objective. | Transamerica JPMorgan Asset Allocation - Moderate Growth VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: J.P. Morgan Investment Management, Inc. | 0.77% | 13.13% | 5.83% | 8.08% |

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**investment options AVAILABLE UNDER THE POLICY — (Continued)**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | **Average Annual Total Returns (as of 12/31/25)** | **Average Annual Total Returns (as of 12/31/25)** | **Average Annual Total Returns (as of 12/31/25)** |
| **Investment Objective** | **Underlying Fund Portfolios and Advisers/Sub-adviser<sup>(1)</sup>** | **Current Expenses** | **1 year** | **5 years** | **10 years** |
| To seek capital appreciation and current income. | Transamerica JPMorgan Asset Allocation - Moderate VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: J.P. Morgan Investment Management, Inc. | 0.72% | 11.89% | 3.86% | 6.33% |
| To seek long-term capital appreciation. | Transamerica JPMorgan Diversified Equity Allocation VP - Initial<br> Advised by: Transamerica JPMorgan Diversified Equity Allocation VP; Sub-Advised by: J.P. Morgan Investment Management, Inc.<sup>(3)</sup> | 0.80% | 19.45% | 9.16% | 11.18% |
| To seek to earn a total return modestly in excess of the total return performance of the S&P 500® Index while maintaining a volatility of return similar to the S&P 500® Index. | Transamerica JPMorgan Enhanced Index VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: J.P. Morgan Investment Management, Inc. | 0.61% | 16.21% | 14.39% | 14.61% |
| To seek capital appreciation with current income as a secondary objective. | Transamerica JPMorgan International Moderate Growth VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: J.P. Morgan Investment Management, Inc. | 0.87% | 18.02% | 3.50% | 5.77% |
| To seek current income and preservation of capital. | Transamerica JPMorgan Tactical Allocation VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: J.P. Morgan Investment Management, Inc. | 0.80% | 9.10% | 2.06% | 4.40% |
| To seek long-term capital growth, consistent with preservation of capital and balanced by current income. | Transamerica Janus Balanced VP - Service<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: Janus Henderson Investors US LLC | 0.99% | 13.46% | 7.57% | 9.31% |
| To seek long-term capital appreciation. | Transamerica Janus Mid-Cap Growth VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: Janus Henderson Investors US LLC | 0.84% | 8.11% | 7.17% | 11.14% |
| To seek to provide a high total investment return through investments in a broadly diversified portfolio of stocks, bonds and money market instruments. | Transamerica Multi-Managed Balanced VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: Aegon USA Investment Mangement, Inc. | 0.64% | 13.06% | 8.62% | 9.73% |
| To seek to maximize total return. | Transamerica Small/Mid Cap Value VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: Systematic Financial Management, L.P. | 0.81% | 9.81% | 9.56% | 9.81% |
| To seek long-term growth of capital by investing primarily in common stocks of small growth companies. | Transamerica T. Rowe Price Small Cap VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: T. Rowe Price Associates, Inc. | 0.83% | 10.27% | 5.43% | 10.46% |
| Seeks to maximize long-term growth | Transamerica WMC US Growth VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: Wellington Management Company LLP | 0.64% | 17.76% | 12.32% | 16.43% |

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(1) Some Subaccounts may be available for certain policies and may not be available for all policies. You should decide which Subaccount(s) may be appropriate for You based on a thorough analysis of Your particular insurance needs; financial objectives; investment goals; time horizons; and risk tolerance.

(2) There can be no assurance that any money market portfolio offered under this Policy will be able to maintain a stable net asset value per share during extended periods of low interest rates, and partly as a result of Policy charges, the yield on the money market Subaccount may become extremely low and possibly negative.

(3) Effective on or about November 1, 2025, Transamerica JPMorgan Asset Allocation – Growth VP will be renamed Transamerica JPMorgan Diversified Equity Allocation VP

**NOTE:** All <u>Underlying Fund Portfolios</u> in the Transamerica Series Trust are advised by Transamerica Asset Management. The entities listed are the sub-advisers unless otherwise indicated.

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CLOSED INVESTMENT OPTIONS:

The following Subaccounts are only available to Owners that held an investment in the Subaccounts on May 1, 2003:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | **Average Annual Total Returns (as of 12/31/25)** | **Average Annual Total Returns (as of 12/31/25)** | **Average Annual Total Returns (as of 12/31/25)** |
| **Investment Objective** | **Underlying Fund Portfolios and Advisers/Sub-adviser(1)** | **Current Expenses** | **1 year** | **5 years** | **10 years** |
| Seeks long-term capital appreciation. | Fidelity® VIP Contrafund® Portfolio - Service 2<br> Advised by: Fidelity Management & Research Company LLC | 0.79% | 21.24% | 15.08% | 15.49% |
| Seeks to provide capital growth. | Fidelity® VIP Growth Opportunities Portfolio - Service 2<br> Advised by: Fidelity Management & Research Company LLC | 0.81% | 21.73% | 11.04% | 19.64% |

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The following Subaccount was closed to new investments on December 12, 2005:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | **Average Annual Total Returns (as of 12/31/25)** | **Average Annual Total Returns (as of 12/31/25)** | **Average Annual Total Returns (as of 12/31/25)** |
| **Investment Objective** | **Underlying Fund Portfolios and Advisers/Sub-adviser(1)** | **Current Expenses** | **1 year** | **5 years** | **10 years** |
| To seek to provide investors with long-term capital growth. | Transamerica TSW Mid Cap Value Opportunities VP - Initial<br> Advised by: Transamerica Asset Management, Inc.; Sub-Advised by: Thompson, Siegel & Walmsley LLC | 0.76% | 9.56% | 9.32% | 8.64% |

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The following Subaccount was closed to new investments on December 12, 2011:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | **Average Annual Total Returns (as of 12/31/25)** | **Average Annual Total Returns (as of 12/31/25)** | **Average Annual Total Returns (as of 12/31/25)** |
| **Investment Objective** | **Underlying Fund Portfolios and Advisers/Sub-adviser(1)** | **Current Expenses** | **1 year** | **5 years** | **10 years** |
| Seeks reasonable income. The fund will also consider the potential for capital appreciation. The fund's goal is to achieve a yield which exceeds the composite yield on the securities comprising the S&P 500® Index. | Fidelity® VIP Equity-Income Portfolio - Service 2<br> Advised by: Fidelity Management & Research Company LLC | 0.71% | 18.75% | 12.23% | 11.32% |

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\* All Underlying Fund Portfolios in the Transamerica Series Trust are advised by Transamerica Asset Management. The entities listed are the sub-advisers unless otherwise indicated.

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**Appendix B**

**guaranteed minimum income benefit rider – hypothetical illustrations** <br>**(No Longer available)** 

This discussion assumes the rider is included in the <u>Policy</u>.

<u>Illustrations of Guaranteed Minimum Monthly Payments</u>. Under a variable annuity payment option, the amounts shown below are hypothetical guaranteed minimum monthly payment amounts under the rider for a $100,000 Purchase Payment when annuity payments do not begin until the rider anniversary indicated in the left-hand column. These figures assume that there were no subsequent Purchase Payments, loans or Withdrawals, that there were no premium taxes and that the $100,000 premium is Annuitized under the rider. Six different annuity payment options are illustrated: a male <u>Annuitant</u>, a female Annuitant and a joint and survivor annuity, each on a life only and a life with 10-year certain basis. These hypothetical illustrations assume that the Annuitant is (or both Annuitants are) 60 years old when the Policy is issued, that the annual growth rate is 6% (once established, an annual growth rate will not change during the life of the rider), and that there was no upgrade of the minimum <u>Annuitization</u> value. The figures below are based on an assumed investment return of 3%. Subsequent payments will never be less than the amount of the first payment (although subsequent payments will be calculated using a 5% assumed investment return and a 1.10% guaranteed minimum payment fee plus the 1.40% mortality and expense risk and administrative charges, provided no upgrade in minimum Annuitization value has occurred).

Illustrations of guaranteed minimum monthly payments based on other assumptions will be provided upon request.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Rider Anniversary at Exercise Date** | **Male** | **Male** | **Female** | **Female** | **Joint & Survivor** | **Joint & Survivor** |
|  | **Life Only\*** | **Life 10\*\*** | **Life Only\*** | **Life 10\*\*** | **Life Only\*** | **Life 10\*\*** |
| 10 (Age 70) | &nbsp;&nbsp; $1112 | &nbsp;&nbsp; $1049 | &nbsp;&nbsp; $1035 | &nbsp;&nbsp; $999 | &nbsp;&nbsp; $879 | &nbsp;&nbsp; $870 |
| 15 | &nbsp;&nbsp; $1787 | &nbsp;&nbsp; $1605 | &nbsp;&nbsp; $1663 | &nbsp;&nbsp; $1545 | &nbsp;&nbsp; $1366 | &nbsp;&nbsp; $1349 |
| 20 (Age 80) | &nbsp;&nbsp; $2960 | &nbsp;&nbsp; $2440 | &nbsp;&nbsp; $2777 | &nbsp;&nbsp; $2392 | &nbsp;&nbsp; $2200 | &nbsp;&nbsp; $2116 |

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\* Life only = Life Annuity with No Period Certain

\*\*Life 10 = Life Annuity with 10 Years Certain

These hypothetical illustrations should not be deemed representative of past or future performance of any underlying variable <u>Investment Option</u>.

Withdrawals will affect the minimum Annuitization value as follows: Each rider year, Withdrawals up to the limit of the minimum Annuitization value on the last rider anniversary multiplied by the annual growth rate reduce the minimum Annuitization value on a dollar-for-dollar basis. Withdrawals over this limit will reduce the minimum Annuitization value by an amount equal to the excess Withdrawals amount multiplied by the ratio of the minimum Annuitization value immediately prior to the excess Withdrawal to the <u>Annuity Value</u> immediately prior to the excess Withdrawal.

The amount of the first payment provided by the rider will be determined by multiplying each $1,000 of minimum Annuitization value by the applicable annuity factor shown on Schedule I of the rider. The applicable annuity factor depends upon the Annuitant's (and joint Annuitant's, if any) gender (or without regard to gender if required by law), <u>Age</u>, and the rider payment option selected and is based on a guaranteed interest rate of 3% and the "Annuity 2000" mortality table improved to the year 2005 with projection Scale G. Subsequent payments will be calculated as described in the rider using a 5% assumed investment return. Subsequent payments may fluctuate annually in accordance with the investment performance of the <u>Subaccounts</u>. However, subsequent payments are guaranteed to never be less than the initial payment.

The scheduled payment on each subsequent rider anniversary after Annuitization using the rider will equal the greater of the initial payment or the payment supportable by the annuity units in the selected Subaccounts. The supportable payment is equal to the number of variable annuity units in the selected Subaccounts multiplied by the variable <u>[Annuity Unit Values](#annuityunitvalue)</u> in those Subaccounts on the date the payment is made. The variable Annuity Unit Values used to calculate the supportable payment will assume a 5% assumed investment return. If the supportable payment at any payment date during a rider year is greater than the scheduled payment for that

------

**Appendix B — (Continued)**

Policy year, the excess will be used to purchase additional annuity units. Conversely, if the supportable payment at any payment date during a rider year is less than the scheduled payment for that rider year, then there will be a reduction in the number of annuity units credited to the Policy to fund the deficiency. Purchases and reductions of annuity units will be allocated to each Subaccount on a proportionate basis.

We bear the risk that we will need to make payments if all annuity units have been used in an attempt to maintain the scheduled payment at the initial payment level. In such an event, we will make all future payments equal to the initial payment. Once all the annuity units have been used, the amount of Your payment will not increase or decrease and will not depend upon the performance of any Subaccounts. To compensate us for this risk, the guaranteed minimum payment fee, mortality and expense risk and administrative charges will be deducted.

<u>Illustrations of Annuity Payment Values Between the Policy and the Guaranteed Minimum Income Benefit Rider</u>. The following tables have been prepared to show how different rates of return affect Your variable annuity payments over time when You can <u>Annuitize</u> under the Policy or the Guaranteed Minimum Income Benefit Rider. The tables incorporate hypothetical rates of return and we do not guarantee that You will earn these returns for any one year or any sustained period of time. The tables are for illustrative purposes only and do not represent past or future investment returns.

Your variable annuity payment may be more or less than the income shown if the actual returns of the Subaccounts are different from those illustrated. Since it is very likely that Your investment returns will fluctuate over time, You can expect that the amount of Your annuity payment will also fluctuate. The total amount of annuity payments ultimately received will, in addition to the investment performance of the Subaccounts, also depend on how long You live and whether You choose to Annuitize under the rider.

Another factor that determines the amount of Your variable annuity payment is the assumed investment return ("AIR"). Annuity payments will increase from one variable annuity payment calculation date to the next if the performance of the portfolios underlying the Subaccounts, net of all charges, is greater than the AIR and will decrease if the performance of the portfolios underlying the Subaccounts, net of all charges, is less than the AIR. If You Annuitize under the rider, we guarantee that each subsequent payment will be equal to or greater than Your initial payment.

The Hypothetical Illustration based on 10% Gross Rate table below illustrates differences in monthly variable annuity payments assuming a 10% investment return between Annuitizing under the Policy and the rider.

● The table for the Policy assumes an Annuity Value ("AV") of $150,000; the entire Annuity Value was allocated to variable annuity payments; the AIR is 5%; the payment option is Single Life Annuity with 10 Year Certain; a 70-year-old male, and Separate Account charges of 1.40%. This results in the receipt of an initial annuity payment in the amount of $1,060.50.

● The table for the rider assumes a Minimum Annuitization Value ("MAV") of $180,000; the entire MAV was allocated to variable annuity payments; the AIRs are 3% for the initial payment and 5% for all subsequent payments; the payment option is Single Life Annuity with 10 Year Certain; a 70-year-old male, and Separate Account charges of 2.50%. This results in the receipt of an initial annuity payment in the amount of $1,054.80.

● The table illustrates gross returns of 10.00% (net returns after expenses and AIR deduction are 3.60% for the Policy and 2.50% for the rider).

---

| | | |
|:---|:---|:---|
| **Monthly Payments Assuming 10% Gross Return Net of Portfolio Expenses\*** | **Monthly Payments Assuming 10% Gross Return Net of Portfolio Expenses\*** | **Monthly Payments Assuming 10% Gross Return Net of Portfolio Expenses\*** |
| Monthly payment at the<br> Beginning of Policy year<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Annuitization under Policy<br> (AV = $150,000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Annuitization under Rider<br> (MAV = $180,000)<br>|
| 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1060.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1098.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1082.32 |
| 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1138.23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1110.68 |
| 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1179.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1139.80 |
| 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1221.66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1169.72 |
| 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1265.64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1200.45 |
| 7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1311.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1232.03 |
| 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1358.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1264.48 |
| 9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1407.31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1297.81 |
| 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1457.97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1332.07 |
| 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1510.46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1357.27 |
| 12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1564.83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1403.44 |

---

------

**Appendix B — (Continued)**

---

| | | |
|:---|:---|:---|
| **Monthly Payments Assuming 10% Gross Return Net of Portfolio Expenses\*** | **Monthly Payments Assuming 10% Gross Return Net of Portfolio Expenses\*** | **Monthly Payments Assuming 10% Gross Return Net of Portfolio Expenses\*** |
| Monthly payment at the<br> Beginning of Policy year<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Annuitization under Policy<br> (AV = $150,000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Annuitization under Rider<br> (MAV = $180,000)<br>|
| 13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1621.17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1440.61 |
| 14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1679.53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1478.80 |
| 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1739.99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1518.05 |
| 16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1802.63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1558.37 |
| 17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1867.53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1599.81 |
| 18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1934.76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1642.39 |
| 19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $2004.41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1686.13 |
| 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $2076.57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1731.07 |

---

\*The corresponding net returns are 3.60% and 2.50%

---

| | | |
|:---|:---|:---|
| **Monthly Payments Assuming 0% Gross Return Net of Portfolio Expenses\*** | **Monthly Payments Assuming 0% Gross Return Net of Portfolio Expenses\*** | **Monthly Payments Assuming 0% Gross Return Net of Portfolio Expenses\*** |
| Monthly payment at the<br> Beginning of Policy year<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Annuitization under Policy<br> (AV = $150,000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Annuitization under Rider<br> (MAV = $180,000)<br>|
| 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1060.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $992.63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $929.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $869.64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $813.98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $761.89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $713.13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $667.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $624.77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $584.78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $547.36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $512.32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $479.54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $448.85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $420.12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $393.23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $368.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $344.51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $322.46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |
| 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $301.82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1054.80 |

---

\*The corresponding net returns are -6.40% and -7.50%

The Hypothetical Illustration based on 0% Gross Rate table above illustrates differences in monthly variable annuity payments assuming 0% investment return between selecting Annuitization under the Policy and rider. The assumptions are the same as the above except the 0% gross rate. The table illustrates gross returns of 0.00% (net returns after expenses and after the AIR deduction) are -6.4% for the Policy and -7.5% for the rider.

The annuity payment amounts shown reflect the deduction of all fees and expenses. Actual fees and expenses under the Policy and the rider may be higher or lower, will vary from year to year, and will depend on how You allocate among the Subaccounts. The <u>Separate Account</u> charge is assumed to be at an annual rate of 1.40% of average daily net assets for the Policy, which increases to 2.50% of the average daily net assets if You Annuitize under one of the rider variable payment options.

Upon request, we will furnish You with a customized illustration based on Your individual circumstances and choice of annuity options.

------

***APPENDIX C***

**ADDITIONAL EARNINGS RIDER - Hypothetical examples**

<u>Additional Earnings Rider</u>. The following examples illustrate the additional death benefit payable under the Additional Earnings Rider, as well as the effect of a withdrawal on the Additional Earnings Rider Amount.

**Example 1 – Basic Additional Earnings Rider Example, with no additional Purchase Payments or Withdrawals** 

<u>Assumed Facts for Example</u>:

Rider Issue Age = 60

Additional Earnings Factor (AEF) = 40%

Rider Earnings Limit (REL) = 250%

---

| | |
|:---|:---|
| At Rider Issue: |  |
| $1000000 | Maximum Rider Benefit (MRB) |
| $40000.00 | &nbsp;&nbsp; Rider Base at issue (RBI (equal to the greater of the death <br> benefit proceeds on the Rider Date or the Annuity Value on <br> that date)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| At Death: |  |
| $75000.00 | Death Benefit Proceeds (DBP) |
| $35000.00 | Rider Earnings (RE) = DBP – RBI = 75,000 –40,000 |
| $14000.00 | &nbsp;&nbsp; Additional Earnings Rider Amount = lesser of:<br> RE \* AEF = 35,000 \* 40% = 14,000 or<br> REL \* RBI \* AEF = 250% \* 40,000 \*40% = 40,000 or<br> MRB = 1,000 000<br>|

---

**Example 2 –Additional Earnings Rider Example, showing the effect of Withdrawal** 

<u>Assumed Facts for Example</u>:

Rider Issue Age = 60

Additional Earnings Factor (AEF) = 40%

Rider Earnings Limit (REL) = 250%

---

| | |
|:---|:---|
| At Rider Issue: |  |
| $1000000 | Maximum Rider Benefit (MRB) |
| $40000.00 | &nbsp;&nbsp; Rider Base at issue (RBI (equal to the greater of the death <br> benefit proceeds on the Rider Date or the Annuity Value on <br> that date)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| At Withdrawal: |  |
| $50.000.00 | Annuity Value before Withdrawals (AV) |
| $15000.00 | Withdrawal (PW) (including Withdrawal charges) |
| $12000.00 | &nbsp;&nbsp; Withdrawal Adjustment to Base<br> (WAB) = PW \* RBI / AV = 15,000 \* 40,000 / 50,000<br>|
| $28000.00 | &nbsp;&nbsp; Rider Base after Withdrawal<br> (RB = RBI – WAB = 40,000 –12,000<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| At Death: |  |
| $70000.00 | Death Benefit Proceeds (DBP) |
| $42000.00 | Rider Earnings (RE) = DBP – RB = 70,000 –28,000 |
| $16800.00 | &nbsp;&nbsp; Additional Earnings Rider Amount = lesser of:<br> RE \* AEF = 42,000 \* 40% = 16,800 or<br> REL \* RBI \* AEF = 250% \* 28,000 \*40% = 28,000 or<br> MRB = 1,000 000<br>|

---

------

***APPENDIX D***

**FINANCIAL INTERMEDIARY VARIATIONS** 

WRL Freedom Conqueror (the "Policy")

This appendix describes variations in the availability of Investment Options, Policy benefits, and other Policy features – including restrictions, limitations, and other variations – which are not otherwise described in the prospectus and may apply depending on the broker-dealer through which the Policy is sold.

Please note that there may be other financial intermediary variations not described below or otherwise in the prospectus. For example, your financial intermediary may not recommend a particular Investment Option or benefit to you. Any such other financial intermediary variations are unknown to Transamerica, and due to several factors (*e.g.*, the manner in which financial intermediaries make recommendations, and the terms of our selling agreements), Transamerica does not believe it can obtain information about them without unreasonable effort or expense.

You should discuss with your financial professional any limitations, restrictions, or other variations related to the Investment Options, Policy benefits, or other Policy features that may apply through your financial professional's broker-dealer. In some cases, an option not available through a financial intermediary may be obtained by contacting us directly. For more information on the options available, please contact your financial intermediary or our Administrative Office.

NOT APPLICABLE

------

**where to find additional information** 

The Statement of Additional Information (SAI) dated May 1, 2026 contains more information about the Policy and the Separate Account. The SAI has been filed with the SEC and is incorporated by reference into this prospectus. The SAI is posted on our website, http://dfinview.com/Transamerica/TAHD/89358R382?site=VAVUL. For a free paper copy of the SAI, to request other information about the Policies, and to make investor inquiries call us at (800)851-9777 or write us at:

Transamerica Life Insurance Company <br>6400 C Street SW <br>Cedar Rapids, IA 52499

Reports and other information about the Separate Account are available on the SEC's website at sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

EDGAR Contract Identifier No. is #C000223556

------

**STATEMENT OF ADDITIONAL INFORMATION** 

**WRL FREEDOM CONQUEROR**<sup>SM</sup>

**Issued through** 

**WRL SERIES ANNUITY ACCOUNT** 

**Offered by** 

**TRANSAMERICA LIFE INSURANCE COMPANY** 

This Statement of Additional Information expands upon subjects discussed in the current prospectus for the WRL Freedom Conqueror<sup>®</sup> offered by Transamerica Life Insurance Company. You may obtain a copy of the current prospectus, dated May 1, 2026, by calling (800)851-9777, or write us at: Transamerica Life Insurance Company, Attention: Customer Care Group, 6400 C Street SW, Cedar Rapids, IA 52499. The prospectus sets forth information that a prospective investor should know before investing in a policy. Terms used in the current prospectus for the policy are incorporated in this Statement of Additional Information have the same meaning.

**This Statement of Additional Information (SAI) is not a prospectus and should be read only in conjunction with the prospectuses for the policy and the underlying fund portfolios.** 

Dated: May 1, 2026

------

**TABLE OF CONTENTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| [Information About Us](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_1)________________________________________________________________ | 3 |
| [The Separate Accounts](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_1)________________________________________________________________ | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Cybersecurity (continued from](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_1)["](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_1)[Principal Risks](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_1)["](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_1)[section of the Prospectus)](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_1)_______________________________ | 3 |
| **[THE POLICY](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_3)[—](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_3)[GENERAL PROVISIONS](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_3)___________________________________________________** | **5** |
| [Owner](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_3)__________________________________________________________________________  | 5 |
| [Entire Policy](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_4)______________________________________________________________________ | 6 |
| [Misstatement of Age or Gender](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_4)__________________________________________________________ | 6 |
| [Annuity Payment Options](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_4)_____________________________________________________________ | 6 |
| [Death Benefit](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_5)_____________________________________________________________________ | 7 |
| [Assignment](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_6)_______________________________________________________________________  | 8 |
| [Proof of Age, Gender and Survival](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_6)________________________________________________________ | 8 |
| [Non-Participating](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_6)___________________________________________________________________ | 8 |
| [Employee and Agent Purchases](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_6)__________________________________________________________ | 8 |
| **[INVESTMENT EXPERIENCE](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_6)____________________________________________________________** | **8** |
| [Accumulation Units](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_6)_________________________________________________________________ | 8 |
| [Annuity Unit Value and Annuity Payment Rates](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_8)_______________________________________________ | 10 |
| **[HISTORICAL PERFORMANCE DATA](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_9)______________________________________________________** | **11** |
| [Money Market Yields](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_9)_________________________________________________________________ | 11 |
| [Other Performance Data](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_11)_______________________________________________________________ | 13 |
| [Advertising and Sales Literature](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_11)__________________________________________________________ | 13 |
| **[services](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_11)__________________________________________________________________________** | **13** |
| **[RECORDS AND REPORTS](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_11)______________________________________________________________** | **13** |
| **[DISTRIBUTION OF THE POLICIES](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_12)_______________________________________________________** | **14** |
| **[CUSTODY OF ASSETS](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_12)_________________________________________________________________** | **14** |
| **[INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_12)____________________________________** | **14** |
| **[FINANCIAL STATEMENTS](#xx_172c6839-a185-46e0-b5f2-c97c916457e7_13)______________________________________________________________** | **15** |

---

ii

------

**Information About Us** 

We are engaged in the sale of life and health insurance and annuity policies. Transamerica Life Insurance Company was incorporated under the laws of the State of Iowa on April 19, 1961 as NN Investors Life Insurance Company Inc. and is licensed in all states and the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands. We are a wholly-owned indirect subsidiary of Transamerica Corporation which conducts most of its operations through subsidiary companies engaged in the insurance business or in providing non-insurance financial services. All of the stock of Transamerica Corporation is indirectly owned by Aegon Ltd. of The Netherlands, the securities of which are publicly traded. Aegon Ltd., a holding company, conducts its business through subsidiary companies engaged primarily in the insurance business.

All obligations arising under the policies, including the promise to make annuity payments, are general corporate obligations of ours. Accordingly, no financial institution, brokerage firm or insurance agency is responsible for our financial obligations arising under the policies.

**The Separate Accounts** 

WRL Series Annuity Account (the "Separate Accounts"), 6400 C Street S.W., Cedar Rapids, Iowa, were established by the Company on April 12, 1998, and is a unit investment trust registered with the SEC and operating under Iowa law. The Separate Accounts have various Subaccounts each of which invests solely in a corresponding Portfolio of the Fund.

The Separate Accounts are registered with the SEC as unit investment trusts under the 1940 Act (the "1940 Act"). However, the SEC does not supervise the management, the investment practices, or the policies of the separate accounts.

**Cybersecurity (continued from "Principal Risks" section of the Prospectus)** 

**OPPORTUNITIES and CHALLENGES** 

The increasing digitalization of the financial services landscape has intensified the financial and reputational risk presented by cybersecurity threats. As our business becomes more technology driven and our digital reliance increases, we become a greater target for cybercriminals, and more vulnerable to threats such as ransomware attacks.

*What Transamerica is doing* 

Transamerica maintains a well-documented information security program which is based on ISO 27000 series and incorporates aspects of COBIT, NIST, SANS, as well as other industry-recognized frameworks and standards. The program is designed to protect the infrastructure, information systems, and the information in Transamerica's systems from unauthorized access, use, or other malicious acts by enabling the organization to identify risks, implement appropriate protections, and detect and respond to cybersecurity events. Transamerica has established strong security policies, procedures, guidelines, and standards that are reviewed regularly for compliance with applicable laws, regulations, and alignment with industry standards. Our cybersecurity program covers aspects of security management: data handling and classification; access controls and identity management; business continuity and disaster recovery; configuration management; asset management; risk assessment; data disposal; information security incident response; system operations; vulnerability and patch management; system, application, and network security and monitoring; systems and application development and performance; physical and environmental controls; data privacy; vendor and third- party service provider management; consistent use of multi-factor authentication; cybersecurity awareness training; and encryption.

We continue to take steps to strengthen our information security program, infrastructure, and ability to respond to cyberattacks, for example, by further developing our information security teams and strengthening controls. Transamerica's Risk Management teams also periodically assess known potential cyber risk factors, together with the first line functions such as the Security Operations Center, with known trends or material incidents reported to Transamerica's Management and Supervisory Boards as necessary.

**OVERVIEW** 

**Information security and privacy regulation** Transamerica's businesses are regulated with respect to information security, data breach response, privacy, and data use at both the federal and state levels. At the federal level, various Transamerica companies are subject to the Gramm-Leach-Bliley Act (GLBA), the Fair Credit Reporting Act (FCRA), and the Health Insurance Portability and Accountability Act (HIPAA), amongst other laws. At the state level, Departments of Insurance and Financial Services typically administer a series of privacy and information security laws, guidances, and regulations that impact several Transamerica businesses. New York Department of Financial Services Rule 500 (NYDFS Rule 500) amended its Part 500 Cybersecurity Rules to adopt heightened information security requirements in relation to areas such as cybersecurity governance, cybersecurity risk assessments, and incident reporting with staggered compliance dates with the last one ending in Nov of 2025. In addition, in recent years numerous state legislatures have passed or have attempted to pass additional, more broad-based general consumer privacy laws, such as the California Consumer Privacy Act. Additional laws and regulations with respect to these topics are also anticipated to be promulgated <br>

------

and to go into effect in the coming years, and they may be administered by new or different state agencies or by the offices of state Attorneys General. The White House, SEC, and other regulators have also increased their focus on companies' cybersecurity vulnerabilities and risks, including in relation to third-party service providers. The SEC adopted the Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure by Public Companies in 2023 (the "Rule"). The Rule enhances and standardizes disclosures for public companies with regard to their cybersecurity risk strategy, management, and governance. The Rule also requires the reporting of a cybersecurity incident within four business days of determining that an incident is deemed material. In 2024, the SEC also amended Regulation S-P, the implementing regulation for GLBA applicable to broker-dealers, investment companies, registered investment advisers, and transfer agents. The Amendments include new requirements related to incident response programs, customer notifications of data breaches, service provider oversight, and other related matters. In September 2024, the Department of Labor (DOL) released an update to its 2021 cybersecurity guidance for plan sponsors, fiduciaries, recordkeepers and plan participants. This guidance has now been updated to confirm that the agency's 2021 guidance generally applies to ERISA-covered employee benefit plans, including health and welfare plans.

***Operational Risks*** 

**A computer system failure or security breach of Transamerica's IT systems or that of critical third parties may disrupt Transamerica's business, damage Transamerica's reputation and adversely affect Transamerica's results of operations, financial condition, and cash flows.** 

Transamerica relies heavily on computer and information systems and internet and network connectivity (collectively, "IT systems") to conduct a large portion of its business operations. This includes the need to implement procedures designed to securely store, process, transmit and dispose of confidential information, including personal information, through a number of complex systems. In many cases this also includes transmission and processing to or through customers, business partners, (semi-) governmental agencies and third-party service providers. Computer system failures, cyber-crime attacks, or security or data privacy breaches may materially disrupt Transamerica's business operations, damage Transamerica's reputation, result in regulatory and litigation exposure, investigation and remediation costs, and materially and adversely affect Transamerica's results of operations, financial condition and cash flows.

The information security risk that Transamerica faces includes the risk of malicious outside forces using public networks and other methods, including social engineering and the exploitation of targeted offline processes, to attack Transamerica's systems and information and potentially demand ransom. It also includes inside threats, both malicious and accidental. For example, human error, bugs and vulnerabilities that may exist in Transamerica's systems or software, unauthorized user activity, and lack of sufficiently automated processing or sufficient logging and monitoring can result in improper information exposure or failure or delayed detection of such activity in a timely manner. Transamerica also faces risk in this area due to its reliance in many cases on third-party systems, any of which may face cyber and information security risks of their own. Third-party administrators or distribution partners used by Transamerica or its subsidiaries may not adequately secure their own IT systems or may not adequately keep pace with the dynamic changes in this area. Potential bad actors that target Transamerica and applicable third parties may include, but are not limited to, criminal organizations, foreign government bodies, political factions, and others.

In recent years, information security risk has increased due to a number of developments in how information systems are used, not only by companies such as Transamerica, but also by society in general. Threats have increased in frequency and magnitude, and are expected to continue to increase, as criminals and other bad actors become more organized and employ more sophisticated techniques. At the same time companies increasingly make information systems and data available through the internet, mobile devices or other network connections to customers, employees and business partners, thereby expanding the attack surface that bad actors can potentially exploit. Transamerica also faces increased cybersecurity risks due to the number of Transamerica's and Transamerica's service providers' and partners' employees who are working remotely, which creates additional opportunities for cybercriminals to launch social engineering attacks and exploit vulnerabilities in non-corporate IT environments. The White House, SEC and other regulators have also increased their focus on cybersecurity vulnerabilities and risks.

Large financial institutions such as and including Transamerica have been, and will continue to be, subject to information security attacks. The nature of these attacks will also continue to be unpredictable, and in many cases, may arise from circumstances that are beyond Transamerica's control. Attackers are also increasingly using tools and techniques that are specifically designed to circumvent controls, to evade detection and even to remove or obfuscate forensic evidence. As a result, Transamerica may be unable to timely or effectively detect, identify, contain, investigate or remediate IT systems in response to future cyberattacks. Especially if and to the extent Transamerica fails to adequately invest in defensive infrastructure, timely response capabilities, technology, controls and processes, or to effectively execute against its information security strategy, it may suffer material adverse consequences. Transamerica maintains cyber liability insurance to help decrease the financial impact of cyber-attacks and information security events, subject to the terms and conditions of the policy; however, such insurance may not be sufficient to cover applicable losses that Transamerica may suffer.

------

**A breach of data privacy or security obligations may disrupt Transamerica's business, damage Transamerica's reputation and adversely affect financial conditions and results of operations.** <br> Pursuant to applicable laws, various government and semi-governmental and other administrative bodies have established numerous rules protecting the privacy and security of personal information and other confidential or sensitive information held by Transamerica. Notably, certain of Transamerica's businesses are subject to laws and regulations enacted by US federal and state governments and/or various regulatory organizations relating to the privacy and/or information security of the information of customers, employees or others.

Numerous other legislators and regulators with jurisdiction over Transamerica's businesses are considering or have already enacted enhanced information security risk management and privacy laws and regulations, with the overall number and scope of such laws and regulations continuing to increase year over year. A number of Transamerica companies are also subject to contractual restrictions with respect to the use and handling of the sensitive information of Transamerica's clients and business partners. Transamerica, and its employees, third-party providers and business partners have access to, and routinely process, the personal information of consumers and employees.

Transamerica relies on a large number of processes and controls to protect the confidentiality, integrity and availability of personal information and other confidential information that is accessible to, or in the possession of, Transamerica, its systems, employees and business partners. It is possible that Transamerica or its third parties could, intentionally or unintentionally, inappropriately disclose or misuse personal or confidential information. Transamerica's data or data in its possession could also be the subject of an unauthorized information security attack. If Transamerica fails to maintain adequate processes and controls or if Transamerica or its business partners fail to comply with relevant laws and regulations, policies and procedures, misappropriation or intentional or unintentional inappropriate disclosure or misuse of personal information or other confidential information could occur. Such control inadequacies or non-compliance could cause disrupted operations and misstated or unreliable financial data, materially damage Transamerica's reputation or lead to increased regulatory scrutiny or civil or criminal penalties or (class action) litigation, which, in turn, could have a material adverse effect on Transamerica's business, financial condition and results of operations.

In addition, Transamerica analyzes personal information and customer data to better manage its business, subject to applicable laws and regulations and other restrictions. It is possible that additional regulatory or other restrictions regarding the use of such information may be imposed. Additional privacy and information security obligations have been imposed by various governments with jurisdiction over Transamerica or its subsidiaries in recent years, and more similar obligations are likely to be imposed in the near future across Transamerica's operations. Such restrictions and obligations could have material impacts on Transamerica's business, financial conditions and results of operations.

In order to supplement the description in the prospectus, the following provides additional information about us and the policy, which may be of interest to a prospective purchaser.

**THE POLICY—GENERAL PROVISIONS** 

**Owner** 

The policy shall belong to the owner upon issuance of the policy after completion of an application and delivery of the initial purchase payment. While the annuitant is living, the owner may: (1) assign the policy; (2) surrender the policy; (3) amend or modify the policy with our consent; (4) receive annuity payments or name a payee to receive the payments; and (5) exercise, receive and enjoy every other right and benefit contained in the policy. The exercise of these rights may be subject to the consent of any assignee or irrevocable beneficiary; and of your spouse in a community or marital property state.

A successor owner may be named in the policy application or in a written notice to our Administrative Office. The successor owner will become the new owner upon the owner's death, if the owner is not the annuitant and dies before the annuitant. If no successor owner survives the owner and the owner dies before the annuitant, the owner's estate will become the owner.

An owner may change the ownership of the policy in a written notice to our Administrative Office. When this change takes effect, all rights of ownership in the policy will pass to the new owner. A change of ownership may have tax consequences.

When there is a change of owner or successor owner, the change will not take effect as of the date we accept the written notice at our Administrative Office. We assume no liability for any payments made, or actions taken before a change is accepted, and shall not be responsible for the validity or effect of any change of ownership. Changing the owner or naming a new successor owner cancels any prior choice of successor owner, but does not change the designation of the beneficiary or the annuitant.

------

**Entire Policy** 

The policy and any endorsements or riders thereon and the policy application constitute the entire policy between the Company and the owner. All statements in the application are representations and not warranties. No statement will cause the policy to be void or to be used in defense of a claim unless contained in the application.

**Misstatement of Age or Gender** 

<u>During the Accumulation Period</u>. If the age of any person whose life or age a benefit provided under a guaranteed benefit has been misstated, any such benefit will be that which would have been purchased on the basis of the correct age. If that person would not have been eligible for that guaranteed benefit at the correct age, (i) the benefit will be rescinded; and (ii) any charges that were deducted for the benefit will be refunded and applied to the total account value of the policy.

We reserve the right to terminate the policy at any time if it discovers a misstatement or fraudulent representation of any information provided in connection with the issuance or ongoing administration of the policy.

<u>After the Maturity Date</u>. We may require proof of the annuitant's or owner's age and/or gender before any payments associated with any benefits are made. If the age or gender of the annuitant and/or owner has been misstated, we will change the payment associated with any benefits payable to that which the purchase payments would have purchased for the correct age or gender. The dollar amount of any underpayment made by us shall be paid in full with the next payment due such person, beneficiary, or payee. The dollar amount of any overpayment made by us due to any misstatement shall be deducted from payments subsequently accruing to such person or beneficiary. Any underpayment or overpayment will include interest as specified in your policy, from the date of the wrong payment to the date of the adjustment. The age of the annuitant or owner may be established at any time by the submission of proof satisfactory to us.

**Annuity Payment Options** 

During the lifetime of the annuitant and prior to the maturity date, the owner may choose an annuity payment option or change the election. If no election is made prior to the maturity date, annuity payments will be made under Payment Option D as Variable Life Income with 10 years of guaranteed payments. The default option may be restricted with respect to qualified policies.

Thirty days prior to the maturity date, we will mail to the owner a notice and a form upon which the owner can select allocation options for the annuity proceeds as of the maturity date. We reserve the right to limit transfers to once per year after the maturity date. If a variable annuity payment option is chosen, the owner must include in the written notice the subaccount allocation of the annuity proceeds as of the maturity date. If we do not receive that form or other written notice acceptable to us prior to the maturity date, the policy's existing allocation options will remain in effect. The owner may also, prior to the maturity date, select or change the frequency of annuity payments, which may be monthly, quarterly, semi-annually or annually, provided that the annuity payment option and payment frequency provides for payments of at least $20 per period. If none of these is possible, a lump sum payment will be made.

<u>Determination of the First Variable or Fixed Payment</u>. The amount of the first variable or fixed annuity payment is determined by multiplying the annuity proceeds times the appropriate rate for the annuity option selected. The rates are based on the Society of Actuaries 1983 Individual Mortality Table A with projection Scale G, and variable rates are based on a 5% effective annual assumed investment return and assuming a maturity date in the year 2000. Gender based mortality tables will be used unless prohibited by law. For certain qualified policies the use of unisex mortality tables may be required.

The amount of the first annuity payment depends upon the gender (if consideration of gender is allowed under state law) and adjusted age of the annuitant. The adjusted age is the annuitant's actual age nearest birthday, at the maturity date, adjusted as follows:

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| | |
|:---|:---|
| **Maturity Date** | **Adjusted Age** |
| Before 2001 | Actual Age |
| 2001-2010 | Actual Age minus 1 |
| 2011-2020 | Actual Age minus 2 |
| 2021-2030 | Actual Age minus 3 |
| 2031-2040 | Actual Age minus 4 |
| After 2040 | As determined by the Company |

---

This adjustment assumes an increase in life expectancy, and therefore it results in lower payments than without such an adjustment.

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<u>Determination of Additional Variable Payments</u>. The amount of variable annuity payments after the first will increase or decrease according to the annuity unit value which reflects the investment experience of the selected subaccount(s). Each variable annuity payment after the first will be equal to the number of units attributable to the policy in each selected subaccount multiplied by the annuity unit value of that subaccount on the date the payment is processed. The number of such units is determined by dividing the first payment allocated to that subaccount by the annuity unit value of that subaccount on the date the first annuity payment is processed.

**Death Benefit**

<u>Death of Owner</u>. Federal tax law requires that if any owner (including any successor owner who has become a current owner) dies before the maturity date, then the entire value of the policy must generally be distributed within five years of the date of death of such owner. Special rules apply where (1) the spouse of the deceased owner is the sole beneficiary, (2) an owner is not a natural person and the primary annuitant dies or is changed, or (3) any owner dies after the maturity date. *See* TAX INFORMATION in the Prospectus for a detailed description of these rules. Other rules may apply to qualified policies.

If an owner is not the annuitant and dies before the annuitant:

● if no successor owner is named and alive on the death report day, the owner's estate will become the new owner. The cash value must be distributed within five years of the former owner's death;

● if the successor owner is alive and is the owner's spouse, the successor owner will become the new owner;

● if the successor owner is alive and is not the owner's spouse, the successor owner will become the new owner.

The cash value must be distributed either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● will be distributed in accordance with the applicable provisions of the Internal Revenue Code; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● over the lifetime of the new owner, if a natural person, with payments beginning within one year of the former owner's death; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● over a period that does not exceed the life expectancy (as defined by the Code and regulations adopted under the Code) of the new owner, if a natural person, with payments beginning within one year of the former owner's death.

To determine payments, we may use the "account-based" method under which we recalculate the amount of the payment each year by dividing the remaining unpaid proceeds by the beneficiary's current life expectancy, with payments beginning within one year of the deceased owner's death.

<u>Death of Annuitant</u>. Due proof of death of the annuitant is proof that the annuitant died prior to the commencement of annuity payments. Upon receipt of this proof and an election of a method of settlement and return of the policy, the death benefit generally will be paid within seven days, or as soon thereafter as we have sufficient information about the beneficiary(ies) to make the payment. The beneficiary may receive the amount payable in a lump sum cash benefit, or, subject to any limitation under any state or federal law, rule, or regulation, under one of the annuity payment options unless a settlement agreement is effective at an owner's death preventing such election.

If the annuitant who is not an owner dies during the accumulation period and an owner is a natural person other than the annuitant, then the owner will automatically become the annuitant and this policy will continue. If an owner and the annuitant are not the same person and the owner dies during the accumulation period, and if a successor owner is named and is the owner's spouse, then the successor owner will automatically become the new annuitant and this policy will continue. If the annuitant dies during the accumulation period and an owner is either (1) the same individual as the annuitant; or (2) other than a natural person, then the death benefit proceeds are payable to the beneficiary in a lump sum distribution.

If the annuitant who is an owner dies before the maturity date, and the sole beneficiary is not the deceased annuitant's spouse who elects to continue the policy, (1) the death benefit must be distributed within five years of the date of the annuitant/deceased owner's death, or (2) payments must begin no later than one year after the annuitant/deceased owner's death and must be made (i) for the beneficiary's lifetime or (ii) for a period certain (so long as any certain period does not exceed the beneficiary's life expectancy). Payments may be made in accordance with the "account-based" method under which we recalculate the amount of the payment each year by dividing the remaining unpaid proceeds by the beneficiary's current life expectancy, with payments beginning within one year of the deceased owner's death. Death benefit proceeds which are not paid to or for the benefit of a natural person must be distributed within five years of the date of the annuitant/deceased owner's death. If the sole beneficiary is the annuitant/deceased owner's surviving spouse, such spouse may elect to continue the policy as the new annuitant and owner instead of receiving the death benefit (*See* TAX INFORMATION in the Prospectus). We will increase the annuity value as of the death report day to equal the death benefit proceeds as of the death report day, if greater.

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If a beneficiary elects to receive the death benefit proceeds under alternate payment option (1) or 2(ii) above, then we will: (a) allow withdrawals and transfers among the subaccounts and the fixed account; (b) deduct the transfer fee from each transfer after the first 12 transfers during the policy year; (c) deduct the annual policy charge each policy year; and (d) not permit payment of the death benefit proceeds under the annuity provisions of the policy upon complete distribution.

The beneficiary may name a new beneficiary for payment of the death benefit proceeds. If the beneficiary dies during the distribution period, we will pay the remaining value of the policy first to the new beneficiary. If no new beneficiary is named, such payment will be made to the contingent beneficiary if named by the owner. If no new beneficiary or contingent beneficiary is named, such payment will be made to the beneficiary's estate.

<u>Beneficiary</u>. The beneficiary designation in the application will remain in effect until changed. An owner may change the designated beneficiary(ies) during the annuitant's lifetime by sending written notice to us at our Administrative Office. A beneficiary's consent to such change is not required unless the beneficiary was irrevocably designated or law requires consent. (If an irrevocable beneficiary dies, an owner may then designate a new beneficiary). The change will take effect as of the date an owner signs the written notice. We will not be liable for any payment made before the written notice is received at our Administrative Office. Unless we receive written notice from an owner to the contrary, no beneficiary may assign any payments under the policy before such payments are due. To the extent permitted by law, no payments under the policy will be subject to the claims of any beneficiary's creditors.

**Assignment** 

During the annuitant's lifetime and prior to the maturity date (subject to any irrevocable beneficiary's rights) the owner may assign any rights or benefits provided by a nonqualified policy. The assignment of a policy will be treated as a distribution of the annuity value for federal tax purposes. Any assignment must be made in writing and accepted by us. An assignment will be effective as of the date the request is received at our Administrative Office and is accepted by us. We assume no liability for any payments made or actions taken before a change is accepted and shall not be responsible for the validity or effect of any assignment.

With regard to qualified policies, any assignment may be subject to restrictions, penalties, taxation as a distribution, or even prohibition under the Code, and must be permitted under the terms of the underlying retirement plan.

**Proof of Age, Gender and Survival** 

We may require proper proof of age and gender of any annuitant or joint annuitant prior to making the first annuity payment. Prior to making any payment, we may require proper proof that the annuitant or joint annuitant is alive and legally qualified to receive such payment. If required by law to ignore differences in gender of any payee, annuity payments will be determined using unisex rates.

**Non-Participating** 

The policy will not share in the Company's surplus earnings; no dividends will be paid.

**Employee and Agent Purchases** 

The policy may be acquired by an employee or registered representative of any broker/dealer authorized to sell the policy or their spouse or minor children, or by an officer, director, trustee or bona-fide full-time employee of ours or our affiliated companies or their spouse or minor children. In such a case, we in our discretion, may credit an amount equal to a percentage of each purchase payment to the policy due to lower acquisition costs we experience on those purchases. We may offer, in our discretion, certain employer sponsored savings plans, reduced fees and charges including, but not limited to, the withdrawal charge and the annual policy charge for certain sales under circumstances which may result in savings of certain costs and expenses. In addition, there may be other circumstances of which we are not presently aware which could result in reduced sales or distribution expenses. Credits to the policy or reductions in these fees and charges will not be unfairly discriminatory against any owner.

**INVESTMENT EXPERIENCE** 

**Accumulation Units** 

Allocations of a purchase payment directed to a subaccount are credited in the form of accumulation units. Each subaccount has a distinct accumulation unit value. The number of units credited is determined by dividing the purchase payment or amount transferred to the subaccount by the accumulation unit value of the subaccount as of the end of the valuation period during which the allocation is made. For each subaccount, the accumulation unit value for a given business day is based on the net asset value of a share of the corresponding portfolio of the underlying fund portfolio less any applicable charges or fees.

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Upon allocation to the selected subaccount, purchase payments are converted into accumulation units of the subaccount. The number of accumulation units to be credited is determined by dividing the dollar amount allocated to each subaccount by the value of an accumulation unit for that subaccount as next determined after the purchase payment is received at the Administrative Office or, in the case of the initial purchase payment, when the enrollment form is completed, whichever is later. The value of an accumulation unit for each subaccount was arbitrarily established at the inception of each subaccount. Thereafter, the value of an accumulation unit is determined as of the close of trading on each day the New York Stock Exchange is open for business.

An index (the "net investment factor") which measures the investment performance of a subaccount during a valuation period, is used to determine the value of an accumulation unit for the next subsequent valuation period. The net investment factor may be greater or less than or equal to one; therefore, the value of an accumulation unit may increase, decrease, or remain the same from one valuation period to the next. You bear this investment risk. The net investment performance of a subaccount and deduction of certain charges affect the accumulation unit value.

The net investment factor for any subaccount for any valuation period is determined by dividing (A + B - C) by (D) and subtracting (E) from the result, where the net result of:

A

the net asset value per share of the shares held in the subaccount determined at the end of the current valuation period, plus

B

the per share amount of any dividend or capital gain distribution made with respect to the shares held in the subaccount if the ex-dividend date occurs during the current valuation period, plus or minus

C

a per share credit or charge for any taxes determined by us to have resulted during the valuation period from the investment operations of the subaccount;

D

is the net asset value per share of the shares held in the subaccount determined as of the end of the immediately preceding valuation period; and

E

is an amount representing the separate account charge and any optional benefit fees, if applicable.

**Illustration of Separate Account Accumulation Unit Value Calculations <br>Formula and Illustration for Determining the Net Investment Factor** 

Net Investment Factor = (A + B - C) - E <br> D

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| Where: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; A = | The net asset value of an underlying fund portfolio share as of the end of the current valuation period. |
|  | **Assume A** = $11.57 |
| &nbsp;&nbsp;&nbsp;&nbsp; B = | The per share amount of any dividend or capital gains distribution since the end of the immediately <br> preceding valuation period.<br>|
|  | **Assume B** = 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; C = | The per share charge or credit for any taxes reserved for at the end of the current valuation period. |
|  | **Assume C** = 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; D = | The net asset value of an underlying fund portfolio share at the end of the immediately preceding <br> valuation period.<br>|
|  | **Assume D** = $11.40 |
| &nbsp;&nbsp;&nbsp;&nbsp; E = | The daily deduction for the mortality and expense risk fee and the administrative charge, and any <br> optional benefit fees, if applicable. Assume E totals 1.40% on an annual basis; On a daily basis, this <br> equals 0.000038091.<br>|

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Then, the net investment factor = (11.57 + 0 – 0) - 0.000038091 = Z = 1.014874190 <br> (11.40)

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**Formula for Determining Accumulation Unit Value** 

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| | |
|:---|:---|
| Accumulation Unit Value = A \* B | Accumulation Unit Value = A \* B |
| Where: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; A = | The accumulation unit value for the immediately preceding valuation period. |
|  | **Assume A** = $X |
| &nbsp;&nbsp;&nbsp;&nbsp; B = | The net investment factor for the current valuation period. |
|  | **Assume B** = Y |
| Then, the accumulation unit value = $X \* Y = $Z | Then, the accumulation unit value = $X \* Y = $Z |

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**Annuity Unit Value and Annuity Payment Rates** 

The amount of variable annuity payments will vary with annuity unit values. Annuity unit values rise if the net investment performance of the subaccount (that is, the portfolio performance minus subaccount fees and charges including the mortality and expense risk and administrative charges that will equal an annual rate of 1.40%) exceeds the assumed investment return of 5% annually. Conversely, annuity unit values fall if the net investment performance of the subaccount is less than the assumed rate. The value of a variable annuity unit in each subaccount was established at $10 on the date operations began for that subaccount. The value of a variable annuity unit on any subsequent business day is equal to A multiplied by B multiplied by C, where:

A

is the variable annuity unit value for the subaccount on the immediately preceding business day;

B

is the net investment factor for that subaccount for the valuation period; and

C

is the assumed investment return adjustment factor for the valuation period.

The assumed investment return adjustment factor for the valuation period is the product of discount factors of .99986634 per day to recognize the 5% effective annual assumed investment return. The valuation period is the period from the close of the immediately preceding business day to the close of the current business day.

The net investment factor for the policy used to calculate the value of a variable annuity unit in each subaccount for the valuation period is determined by dividing (i) by (ii) and subtracting (iii) from the result, where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) is the result of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the net asset value of a fund share held in that subaccount determined at the end of the current valuation period; plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the per share amount of any dividend or capital gain distributions made by the fund for shares held in that subaccount if the ex-dividend date occurs during the valuation period; plus or minus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) a per share charge or credit for any taxes reserved for, which we determine to have resulted from the investment operations of the subaccount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) is the net asset value of a fund share held in that subaccount determined as of the end of the immediately preceding valuation period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) is a factor representing the mortality and expense risk and administrative charges. This factor is equal, on an annual basis, to 1.40% of the daily net asset value of the portfolio share held in that subaccount.

The dollar amount of subsequent variable annuity payments will depend upon changes in applicable annuity unit values.

The annuity payment rates generally vary according to the annuity option elected and the gender and adjusted age of the annuitant at the maturity date. See ANNUITY PAYMENT OPTIONS – Determination of the First Variable and Fixed Payment, which contains a table for determining the adjusted age of the annuitant.

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**Calculations for Annuity Unit <br>Value and Variable Annuity Payments** 

**Formula for Determining Annuity Unit Value** 

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| | |
|:---|:---|
| Annuity Unit Value = A \* B \* C | Annuity Unit Value = A \* B \* C |
| Where: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; A = | Annuity unit value for the immediately preceding valuation period. |
|  | **Assume A** = $X |
| &nbsp;&nbsp;&nbsp;&nbsp; B = | Net investment factor for the valuation period for which the annuity unit value is being calculated. |
|  | **Assume B** = Y |
| &nbsp;&nbsp;&nbsp;&nbsp; C = | A factor to neutralize the annual assumed investment return of 5% built into the Annuity Tables used. |
|  | **Assume C** = Z |
| Then, the annuity unit value is: $X \* Y \* Z = $Q | Then, the annuity unit value is: $X \* Y \* Z = $Q |

---

**Formula for Determining Amount of <br>First Monthly Variable Annuity Payment** 

---

| | |
|:---|:---|
| First monthly variable annuity payment = | A \* B |
|  | $1000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Where: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; A = | The adjusted policy value as of the maturity date. |
|  | **Assume A** = $X |
| &nbsp;&nbsp;&nbsp;&nbsp; B = | The annuity purchase rate per $1,000 of adjusted policy value based upon the option selected, the <br> gender and adjusted age of the annuitant according to the tables contained in the policy.<br>|
|  | **Assume B** = $Y |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Then, the first monthly variable annuity payment = | $X \* $Y | = $Z |
|  | 1000 |  |

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**Formula for Determining the Number of Annuity Units <br>Represented by Each Monthly Variable Annuity Payment** 

Number of annuity units = A <br> B

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Where: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; A = | The dollar amount of the first monthly variable annuity payment. |
|  | **Assume A** = $X |
| &nbsp;&nbsp;&nbsp;&nbsp; B = | The annuity unit value for the valuation date on which the first monthly payment is due. |
|  | **Assume B** = $Y |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Then, the number of annuity units = | $X | = Z |
|  | $Y |  |

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**HISTORICAL PERFORMANCE DATA**

**Money Market Yields** 

<u>Yield</u>. The yield quotation set forth in the prospectus for the TA BlackRock Government Money Market subaccount is for the seven days ended on the date of the most recent balance sheet of the separate account included in the registration statement, and is computed by determining the net change, exclusive of capital changes and income other than investment income, in the value of a hypothetical pre-existing account having a balance of one unit in the TA BlackRock Government Money Market subaccount at the beginning of the period, subtracting a hypothetical charge reflecting deductions from owner accounts, and dividing the difference by the value of the account at the beginning of the base period to obtain the base period return, and multiplying the base period return by (365/7) with the resulting figure carried to at least the nearest hundredth of one percent.

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<u>Effective Yield</u>. - The effective yield quotation for the TA BlackRock Government Money Market subaccount set forth in the prospectus is for the seven days ended on the date of the most recent balance sheet of the separate account included in the registration statement. The effective yield is computed by determining the net change, exclusive of capital changes and income other than investment income, in the value of a hypothetical pre-existing subaccount having a balance of one unit in the TA BlackRock Government Money Market subaccount at the beginning of the period. A hypothetical charge, reflecting deductions from owner accounts, is subtracted from the balance. The difference is divided by the value of the subaccount at the beginning of the base period to obtain the base period return, which is then compounded by adding 1. Next, the sum is raised to a power equal to 365 divided by 7, and 1 is subtracted from the result. The following formula describes the computation:

EFFECTIVE YIELD = ({BASE PERIOD RETURN + 1} 365/7) – 1

The effective yield is shown at least to the nearest hundredth of one percent.

<u>Hypothetical Charge</u>. - For purposes of the yield and effective yield computations, the hypothetical charge reflects all fees and charges that are charged to all owner accounts in proportion to the length of the base period, including the annual policy charge. The yield and effective yield quotations do not reflect any deduction for premium taxes or transfer charges that may be applicable to a particular policy, nor do they reflect the withdrawal charge that may be assessed at the time of withdrawal in an amount ranging up to 8% of the requested withdrawal amount. Nor do the yield and effective yield calculations take into account the withdrawal charges imposed under the policy or the charges for any optional riders. The specific withdrawal charge percentage applicable to a particular withdrawal depends on the length of time purchase payments have been held under the policy and whether withdrawals have been made previously during that policy year. (*See* EXPENSES - Withdrawal Charge of the prospectus.) No fees or sales charges are assessed upon annuitization under the policies, except premium taxes. Realized gains and losses from the sale of securities, and unrealized appreciation and depreciation of assets held by the TA BlackRock Government Money Market subaccount and the fund are excluded from the calculation of yield.

The yield on amounts held in the TA BlackRock Government Money Market subaccount normally will fluctuate on a daily basis. Therefore, the disclosed yield for any given past period is not an indication or representation of future yields or rates of return. The TA BlackRock Government Money Market subaccount actual yield is affected by changes in interest rates on money market securities, average portfolio maturity of the Transamerica BlackRock Government Money Market VP, the types and quality of portfolio securities held by the Transamerica BlackRock Government Money Market VP and its operating expenses. Because of the charges and deductions imposed under a policy, the yield for the TA BlackRock Government Money Market subaccount will be lower than the yield for the corresponding money market portfolio.

**Total Returns** 

The total return quotations set forth in the prospectus for all subaccounts, except the TA BlackRock Government Money Market subaccount, holding assets for the policies during the accumulation period are average annual total return quotations for the one, five, and ten-year periods (or, if a subaccount has been in existence for a period of less than one, five or ten years, for such lesser period) ended on the date of the most recent balance sheet of the separate account, and for the period from the first date any subaccount investing in an underlying portfolio commenced operations until the aforesaid date. The quotations are computed by determining the average annual compounded rates of return over the relevant periods that would equal the initial amount invested to the ending redeemable value, adjusted to reflect current subaccount charges, according to the following formula:

---

| | | |
|:---|:---|:---|
| P (1 + T)<sup>N</sup> = ERV | P (1 + T)<sup>N</sup> = ERV | P (1 + T)<sup>N</sup> = ERV |
| Where: | Where: | Where: |
| T | = | The average annual total return net of subaccount recurring charges. |
| ERV | = | The ending redeemable value of the hypothetical account at the end of the period. |
| P | = | A hypothetical initial payment of $1,000. |
| N | = | The number of years in the period. |

---

For purposes of the total return quotations for all of the subaccounts, except the TA BlackRock Government Money Market subaccount, the calculations take into account all current fees that are charged under the policy to all owner accounts during the accumulation period . Such fees include the mortality and expense risk charge, the administrative charge, and the annual policy charge. The calculations also assume a complete surrender as of the end of the particular period; therefore, the withdrawal charge is deducted. The calculations do not reflect any deduction for premium taxes or any transfer or withdrawal charges that may be applicable to a particular policy.

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**Other Performance Data** 

We may present the total return data stated in the prospectus on a non-standardized basis. This means that the data will not be reduced by the withdrawal charge under the policy and that the data may be presented for different time periods and for different purchase payment amounts. **Non-standardized performance data will only be disclosed if standardized performance data for the required periods is also disclosed.** 

We may also disclose cumulative total returns and average annual compound rates of return (T) for the subaccounts based on the inception date of the subaccounts investing in the underlying portfolios. We calculate cumulative total returns according to the following formula:

(1 + T)n - 1

Where:

T and n are the same values as above

In addition, we may present historic performance data for the portfolios since their inception reduced by some or all of the fees and charges under the policy. Such adjusted historic performance includes data that precedes the inception dates of the subaccounts. This data is designed to show the performance that would have resulted if the policy had been in existence during that time.

For instance, we may disclose average annual total returns for the portfolios reduced by some or all fees and charges under the policy, as if the policy had been in existence. Such fees and charges include the mortality and expense risk charge, the administrative charge, and the annual policy charge. Such data may or may not assume a complete surrender of the policy at the end of the period.

**Advertising and Sales Literature** 

From time to time we may refer to the diversifying process of asset allocation based on the Modern Portfolio Theory developed by Nobel Prize winning economist Harry Markowitz. The basic assumptions of Modern Portfolio Theory are: (1) the selection of individual investments has little impact on portfolio performance, (2) market timing strategies seldom work, (3) markets are efficient, and (4) portfolio selection should be made among asset classes. Modern Portfolio Theory allows an investor to determine an efficient portfolio selection that may provide a higher return with the same risk or the same return with lower risk.

When presenting the asset allocation process we may outline the process of personal and investment risk analysis including determining individual risk tolerances and a discussion of the different types of investment risk. We may classify investors into four categories based on their risk tolerance and will quote various industry experts on which types of investments are best suited to each of the four risk categories. The industry experts quoted may include Ibbotson Associates, CDA Investment Technologies, Lipper Analytical Services and any other expert which has been deemed by us to be appropriate. We may also provide an historical overview of the performance of a variety of investment market indices, the performance of these indices over time, and the performance of different asset classes, such as stocks, bonds, cash equivalents, etc. We may also discuss investment volatility including the range of returns for different asset classes and over different time horizons, and the correlation between the returns of different asset classes. We may also discuss the basis of portfolio optimization including the required inputs and the construction of efficient portfolios using sophisticated computer-based techniques. Finally, we may describe various investment strategies and methods of implementation, the periodic rebalancing of diversified portfolios, the use of dollar cost averaging techniques, a comparison of the tax impact of purchase payments made on a "before tax" basis through a tax-qualified plan with those made on an "after tax" basis outside of a tax-qualified plan, and a comparison of tax-deferred versus non tax-deferred accumulation of purchase payments.

As described in the prospectus, in general, an owner is not taxed on increases in value under a policy until a distribution is made under the policy. As a result, the policy will benefit from tax deferral during the accumulation period, as the annuity value may grow more rapidly than under a comparable investment where certain increases in value are taxed on a current basis. From time to time, we may use narrative, numerical or graphic examples to show hypothetical benefits of tax deferral in advertising and sales literature.

**services** 

We perform administrative services for the policies. These services include issuance of the policies, maintenance of records concerning the policies, and certain valuation services.

**RECORDS AND REPORTS** 

All records and accounts relating to the separate account will be maintained by us. As presently required by the 1940 Act, as amended, and regulations promulgated thereunder, we will mail to all owners at their last known address of record, at least annually, reports containing such information as may be required under that Act or by any other applicable law or regulation. Owners will also

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receive confirmation of each financial transaction and any other reports required by law or regulation. However, for certain routine transactions (for example, regular monthly purchases deducted from your checking account, or regular annuity payments we send to you) you may only receive quarterly confirmations.

**DISTRIBUTION OF THE POLICIES** 

TCL serves as principal underwriter for the policies. TCL's home office is located at 1801 California St. Suite 5200 Denver, Colorado 80202. TCL is an affiliate of Transamerica Life Insurance Company and, like TPLIC is an indirect, wholly owned subsidiary of Aegon USA. TCL is registered as a broker-dealer with the Securities and Exchange Commission under the Securities Exchange Act of 1934, and is a member of Financial Industry Regulatory Authority ("FINRA"). TCL is not a member of the Securities Investor Protection Corporation.

The policies were offered to the public through sales representatives of broker-dealers ("selling firms") that have entered into selling agreements with us and with TCL. Sales representatives with these selling firms are appointed as our insurance agents.

During fiscal years 2025, 2024, and 2023, $439,218.88, $448,909, and $435,797, respectively, were paid to TCL. TCL passed through commissions it received to selling firms for their sales and did not retain any portion of them. We and our affiliates provide paid-in capital to TCL and pay for TCL's operating and other expenses, including overhead, legal and accounting fees.

We and/or TCL or another affiliate may pay certain selling firms additional cash amounts for: (1) marketing allowances, which may include marketing services and increased access to their sales representatives; (2) sales promotions relating to the policies; (3) costs associated with sales conferences and educational seminars for their sales representatives; and (4) other sales expenses of the selling firms. We and/or TCL may make bonus payments to certain selling firms based on aggregate sales or persistency standards. These additional payments are not offered to all selling firms, and the terms of any particular agreement governing the payments may vary among selling firms. Differences in compensation paid to a selling firm or its sales representatives for selling one product over another may create conflicts of interest for such firms or its sales representatives.

**CUSTODY OF ASSETS** 

We hold assets of each of the subaccounts. The assets of each of the subaccounts are segregated and held separate and apart from the assets of the other subaccounts and from our general account assets. We maintain records of all purchases and redemptions of shares of the underlying fund portfolios held by each of the subaccounts. Additional protection for the assets of the separate account is afforded by our fidelity bond, presently in the amount of $5,000,000, covering the acts of our officers and employees.

**INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** 

The statutory-basis financial statements and supplementary information of Transamerica Life Insurance Company as of December 31, 2025 and December 31, 2024, and for each of the two years in the period ended December 31, 2025, appearing in this Prospectus and Registration Statement have been audited by Ernst & Young LLP, independent auditor, as set forth in their report thereon appearing elsewhere herein, and are included in reliance upon such report given on the authority of such firm as experts in accounting and auditing.

The financial statements of each of the subaccounts of WRL Series Annuity Account as of December 31, 2025, and for each of the two years in the period ended December 31, 2025, incorporated by reference to the Form N-VPFS dated April 24, 2026, have been audited by Ernst & Young LLP, independent registered public accounting firm, as set forth in their report thereon incorporated by reference elsewhere herein, and are incorporated in reliance upon such report given on the authority of such firm as experts in accounting and auditing.

The statutory-basis financial statements and supplementary information of Transamerica Life Insurance Company for the year ended December 31, 2023 have been so included in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

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**FINANCIAL STATEMENTS** 

All required statutory financial statements are included in Part B of this Registration Statement. Required WRL Series Annuity Account financial statements are incorporated by reference to [N-VPFS (811-05672) filed on April 24, 2026](https://www.sec.gov/Archives/edgar/data/841056/000116409826000794/wrlseriesannuityaccount.htm).

The values of Your interest in the Separate Account will be affected solely by the investment results of the selected Subaccount(s). The statutory-basis financial statements and schedules of Transamerica Life Insurance Company should be considered only as bearing on our ability to meet our obligations under the policies. They should not be considered as bearing on the investment performance of the assets held in the Separate Account.