04/25/2024 | Press release | Distributed by Public on 04/25/2024 13:48
special TERMS_____________________________________________________________________
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summary of contract features that have changed__________________________________
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important INFORMATION you should consider about the contract____________________
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APPENDIX A
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PORTFOLIO COMPANIES AVAILABLE UNDER THE Contract______________________________
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5
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FEES AND EXPENSES
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Location in
Prospectus
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Ongoing Fees and
Expenses
(Annual Charges)
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The table below describes the fees and expenses that You may pay each
year, depending on the options You choose. Please refer to Your Contract
schedule page for information about the specific fees You will pay each
year based on the options You have elected.
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Annuity Contract Fee
Tables and Expense
Examples
Appendix A -
Portfolio Companies
Available Under the
Contract
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Annual Fee
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Minimum
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Maximum
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Base Contract1
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0.20%
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0.20%
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Investment Options (Portfolio
Company fees and expenses as a
percentage of policy value invested)
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0.11%
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0.34%
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Optional Benefits available for an
additional charge (for a single optional
benefit, if elected)2
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0.05%1
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2.00%
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1 As a percentage of average Accumulated Value.
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2 As a percentage of withdrawal base
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Because Your Contract is customizable, the choices You make affect how
much You will pay. To help You understand the cost of owning Your
Contract, the following table shows the lowest and highest cost You could
pay each year based on current charges.
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Lowest Annual Cost $419
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Highest Annual Cost $2,053
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Assumes:
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Assumes:
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•Investment of $100,000
•5% annual appreciation
•Least expensive fund fees and
expenses
•No optional benefits
•No sales charges
•No additional purchase payments,
transfers, or withdrawals
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•Investment of $100,000
•5% annual appreciation
•Most expensive combination
of optional benefits and
fund fees and expenses
•No sales charges
•No additional purchase
payments, transfers, or
withdrawals
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RISKS
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Location in
Prospectus
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Risk of Loss
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You can lose money by investing in this Contract, including loss of
principal.
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Principal Risks of
Investing in the
Contract
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Not a Short-Term
Investment
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This Contract is not a short-term investment and is not appropriate for an
investor who needs ready access to cash. The Contract is designed to help
meet long-term financial objectives by paying a death benefit to family
members or other beneficiaries. The benefits of tax deferral also mean the
Contract is more beneficial to investors with a long-term investment
horizon. You may pay substantial charges if You take withdrawals or fully
surrender the Contract during the surrender charge period.
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Principal Risks of
Investing in the
Contract
Tax Information
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RISKS
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Location in
Prospectus
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Risks Associated with
Investment Options
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•An investment in this Contract is subject to the risk of poor investment
performance. The investment performance of Your Contract can vary
depending on the performance of the Subaccounts options that You
choose.
•Each Subaccount has its own unique risks.
•You should review the Subaccounts carefully before making an
investment decision.
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Principal Risks of
Investing in the
Contract
Investment Options
Appendix A Portfolio
Companies Available
Under the Contract
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Insurance Company
Risk
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Any obligations guarantees, and benefits under the Policy are subject to
our claims-paying ability. If we experience financial distress, we may not
be able to meet our obligations to You. More information about
Transamerica Life Insurance Company, including our financial strength
ratings, is available by visiting transamerica.com or by calling toll-free
(800) 462-2391.
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Principal Risks of
Investing in the
Contract
Transamerica Life
Insurance Company
Financial Condition
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RESTRICTIONS
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Location in
Prospectus
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Investments
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•We reserve the right to remove or substitute Portfolio Companies as
Investment Options under the Contract.
•With certain riders, the Portfolio Companies to which You may allocate
Your Contract value are limited.
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Annuity Contract Fee
Tables and Expense
Examples
Transamerica Life
Insurance Company,
the Separate Account
and the Portfolio
Companies
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Optional Benefits
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•Optional insurance benefits may be available only to insureds within
certain age ranges, may be subject to special rules regarding the effect of
withdrawals on the benefit amount, and may be subject to specific
conditions regarding termination of the benefit.
•Exceeding limits specified by the terms of the optional benefits may
affect the availability of the benefits by reducing the benefits by an
amount greater than the amount withdrawn or may cancel the benefits.
•We reserve the right to stop offering an optional benefit at any time for
new purchasers, including current Contract Owners who wish to add a
benefit after the Contract date.
•In some cases, a benefit may not be available through all financial
intermediaries or all states. For more information on the options
available for electing a benefit, please contact Your financial
intermediary or our Administrative Office.
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Benefits Available
Under the Contract
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TAXES
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Location in
Prospectus
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Tax Implications
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•You should consult with a tax professional to determine the tax
implications of an investment in and payments received under the
Contract.
•If You purchase the Contract through a tax qualified plan or individual
retirement account (IRA), You do not get any additional tax deferral.
•Earnings on Your Contract are taxed at ordinary income tax rates when
You withdraw them, and You may have to pay a penalty if You take a
withdrawal before age 59 ½.
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Tax Information
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CONFLICT OF INTEREST
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Location in
Prospectus
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Exchanges
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Some investment professionals may have a financial incentive to offer You
a new Contract in place of the one You already own. You should only
exchange Your Contract if You determine, after comparing the features,
fees, and risks of both policies, that it is preferable for You to purchase the
new Contract rather than continue to own Your existing Contract.
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Exchanges and/or
Reinstatements
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Investment Objective
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Underlying Fund Portfolio and
Adviser/Sub-adviser
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Current
Expenses
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Average Annual
Total Returns
(as of 12/31/23)
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1 Year
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5 Year
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10 Year
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Seeks to provide long-term capital appreciation
and reasonable current income.
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Vanguard® VIF Balanced Portfolio*
Advised by:Wellington Management Company,
LLP
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0.21%
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14.33%
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9.59%
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7.89%
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Seeks to provide long-term capital appreciation.
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Vanguard® VIF Capital Growth Portfolio
Advised by:PRIMECAP Management Company
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0.34%
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27.98%
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14.33%
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12.85%
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Seeks to provide current income and low to
moderate capital appreciation.
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Vanguard® VIF Conservative Allocation
Portfolio*
Advised by:The Vanguard Group, Inc.
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0.13%
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12.51%
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5.60%
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4.84%
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Seeks to provide long-term capital appreciation
and income.
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Vanguard® VIF Diversified Value Portfolio
Advised by: Hotchkis and Wiley Capital
Management, LLC
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0.29%
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20.13%
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14.28%
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9.27%
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Seeks to provide an above-average level of
current income and reasonable long-term
capital appreciation.
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Vanguard® VIF Equity Income Portfolio
Advised by: Wellington Management Company,
LLP and Vanguard's Equity Investment Group
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0.29%
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8.10%
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11.57%
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9.53%
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Seeks to track the performance of a benchmark
index that measures the investment return of
large-capitalization stocks.
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Vanguard® VIF Equity Index Portfolio
Advised by:The Vanguard Group, Inc.
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0.14%
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26.11%
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15.52%
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11.88%
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Seeks to track the performance of a benchmark
index that measures the investment return of
the global, investment-grade, fixed income
market.
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Vanguard® VIF Global Bond Index Portfolio
Advised by:The Vanguard Group, Inc.
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0.13%
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6.52%
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1.00%
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Seeks to provide long-term capital appreciation.
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Vanguard® VIF Growth Portfolio
Advised by:Wellington Management Company,
LLP
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0.33%
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40.13%
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16.08%
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12.88%
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Seeks to provide a high level of current income.
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Vanguard® VIF High Yield Bond Portfolio
Advised by:Wellington Management Company,
LLP
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0.24%
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11.66%
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5.13%
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4.34%
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Seeks to provide long-term capital appreciation.
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Vanguard® VIF International Portfolio
Advised by:Baillie Gifford Overseas Ltd. and
Schroder Investment Management North America
Inc.
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0.33%
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14.65%
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10.28%
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6.80%
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Investment Objective
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Underlying Fund Portfolio and
Adviser/Sub-adviser
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Current
Expenses
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Average Annual
Total Returns
(as of 12/31/23)
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1 Year
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5 Year
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10 Year
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Seeks to track the performance of a benchmark
index that measures the investment return of
mid-capitalization stocks.
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Vanguard® VIF Mid-Cap Index Portfolio
Advised by: The Vanguard Group, Inc.
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0.17%
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15.83%
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12.56%
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9.27%
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Seeks to provide current income and low to
moderate capital appreciation.
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Vanguard® VIF Moderate Allocation Portfolio*
Advised by: The Vanguard Group, Inc.
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0.13%
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15.55%
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7.78%
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6.19%
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Seeks to provide current income while
maintaining liquidity and a stable share price of
$1.
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Vanguard® VIF Money Market Portfolio
Advised by: The Vanguard Group, Inc.
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0.15%
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5.05%
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1.86%
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1.30%
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Seeks to provide a high level of income and
moderate long-term capital appreciation by
tracking the performance of a benchmark index
that measures the performance of publicly
traded equity REIT's and other real
estate-related investments.
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Vanguard® VIF Real Estate Index Portfolio
Advised by: The Vanguard Group, Inc.
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0.26%
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11.70%
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7.18%
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7.29%
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Seeks to provide current income while
maintaining limited price volatility.
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Vanguard® VIF Short-Term Investment-Grade
Portfolio
Advised by: The Vanguard Group, Inc.
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0.14%
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6.16%
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2.13%
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1.93%
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Seeks to provide long-term capital appreciation.
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Vanguard® VIF Small Company Growth
Portfolio
Advised by: The Vanguard Group, Inc.
and ArrowMark Colorado Holding, LLC
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0.29%
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19.65%
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9.98%
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7.85%
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Seeks to track the performance of a broad,
market-weighted bond index.
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Vanguard® VIF Total Bond Market Index
Portfolio
Advised by: The Vanguard Group, Inc.
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0.14%
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5.58%
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1.04%
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1.71%
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Seeks to track the performance of a benchmark
index that measures the investment return of
stocks issued by companies located in developed
and emerging markets, excluding the United
States.
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Vanguard® VIF Total International Stock
Market Index Portfolio
Advised by:The Vanguard Group, Inc.
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0.11%
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15.55%
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7.31%
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Seeks to track the performance of a benchmark
index that measures the investment return of
the overall stock market.
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Vanguard® VIF Total Stock Market Index
Portfolio
Advised by:The Vanguard Group, Inc.
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0.13%
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25.95%
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14.93%
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11.29%
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Seeks to provide investment results that, before
expenses, correspond generally to the price and
yield performance of the S&P 500® Index.
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Transamerica S&P 500 Index VP - Initial
Class(1)
Advised by:SSGA Funds Management, Inc.
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0.13%
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26.09%
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15.49%
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