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INCOME ELITESM VARIABLE ANNUITY

Issued by

TRANSAMERICA LIFE INSURANCE COMPANY

Separate Account VA B

Supplement Dated November 10, 2014

to the

Prospectus dated May 1, 2014

Effective on or about close of business November 7, 2014, based upon the underlying fund portfolio merger, the following subaccount will merge:

 

Existing Subaccount   Acquiring Subaccount
TA Vanguard ETF Portfolio – Aggressive Growth   TA Vanguard ETF Portfolio – Growth

Effective on or about November 10, 2014, based on changes to the underlying fund portfolio, the following changes apply to the TA PIMCO Real Return TIPS subaccount:

 

OLD SUBACCOUNT NAME   OLD PORTFOLIO NAME   OLD ADVISOR/SUBADVISOR
TA PIMCO Real Return TIPS – Service Class   Transamerica PIMCO Real Return TIPS VP – Service Class   Pacific Investment Management Company LLC
Investment Objective: Seeks maximum real return consistent with preservation of real capital and prudent investment management.
   
NEW SUBACCOUNT NAME   NEW PORTFOLIO NAME   NEW ADVISOR/SUBADVISOR
TA PineBridge Inflation Opportunities – Service Class   Transamerica PineBridge Inflation Opportunities VP – Service Class   PineBridge Investments LLC
Investment Objective: Seeks maximum real return, consistent with appreciation of capital.

 

This Prospectus Supplement must be accompanied or preceded

by the Prospectus for the

Income EliteSM Variable Annuity dated May 1, 2014