497 1 d394389d497.htm TRANSAMERICA LIBERTY VARIABLE ANNUITY Transamerica Liberty Variable Annuity
Transamerica LibertySM Variable Annuity    Transamerica AxiomSM Variable Annuity

Issued by

TRANSAMERICA LIFE INSURANCE COMPANY

SEPARATE ACCOUNT VA B

Supplement dated December 16, 2022

to the

Prospectuses dated May 1, 2022

The Appendix - Portfolio Companies Available Under the Policy is hereby revised to reflect the following Underlying Fund Portfolio information.

 

Investment

Objective

  

Underlying Fund

Portfolios and

Adviser/Sub-adviser

   

Current

Expenses  

   

Platform  

Charges

   

Current

Expenses  

Plus

Platform  

Charges

   

Average Annual Total Return    

(as of 12/31/21

   1 year    5 years    10 years

Investment Objective:

Seeks income and capital growth consistent with reasonable risk.

  

Fidelity ® VIP Balanced

Portfolio - Service Class 2

 

Advised by: Fidelity

Management & Research

Company

    0.71%    0.30%    1.01%    17.99%    14.69%    12.37%

Investment Objective:

Seeks long-term capital appreciation.

  

Fidelity ® VIP Contrafund ®

Portfolio - Service Class 2

 

Advised by: Fidelity

Management & Research

Company

    0.85%    -    0.85%    27.51%    19.87%    16.35%

Investment Objective:

Seeks long-term growth of capital.

  

Fidelity ® VIP Mid Cap

Portfolio - Service Class 2

 

Advised by: Fidelity

Management & Research

Company

    0.86%    -    0.86%    25.31%    13.32%    13.00%

Investment Objective:

Seeks capital appreciation.

  

Fidelity ® VIP Value

Strategies Portfolio - Service

Class 2

 

Advised by: Fidelity

Management & Research

Company

    0.88%    -    0.88%    33.34%    13.67%    13.47%

Investment Objective:

Seeks long-term capital appreciation and capital preservation.

  

Transamerica BlackRock

iShares Edge 40 VP -

Service Class

 

Sub-Advised by: BlackRock Investment Management, LLC

    0.69%    -    0.69%    5.78%    6.88%    5.37%

 

This Supplement must be accompanied or preceded by the applicable Prospectuses.

Please read this Supplement carefully and retain it for future reference.

Investment Objective:

Seeks capital appreciation and current income.

  

Transamerica JPMorgan

Asset Allocation –

Moderate Growth VP -

Service Class

 

Sub-Advised by: J.P. Morgan Investment Management Inc.

    1.09%    -            1.09%    13.70%    11.58%    9.20%

Investment Objective:

Seeks high total return.

  

Transamerica Morgan Stanley Global Allocation VP - Service Class

 

Sub-Advised by: Morgan Stanley Investment Management Inc.

    1.13%    -    1.13%    8.18%    9.60%    7.66%

Investment Objective:

Seeks to provide capital appreciation and income while seeking to manage volatility.

  

Transamerica Morgan

Stanley Global Allocation

Managed Risk – Balanced

VP - Service Class

 

Sub-Advised by: Milliman

Financial Risk Management LLC

    1.30%    -    1.30%    7.18%    6.32%    3.83%

The Closed Investment Option Appendix is hereby revised to reflect the following Underlying Portfolio information.

 

Investment

Objective

   

Underlying Fund

Portfolios and

Adviser/Sub-adviser

   

Current

Expenses    

   

Average Annual Total Return        

(as of 12/31/21

   1 year    5 years    10 years

Investment Objective:

Seeks reasonable income and will also consider the potential for capital appreciation. The 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

Class 2

 

Advised by: Fidelity

Management & Research

Company

    0.76%    24.60%    11.68%    12.26%

Investment Objective:

Seeks long-term growth of capital.

   

Fidelity ® VIP Growth

Portfolio - Service Class 2    

 

Advised by: Fidelity

Management & Research

Company

    0.85%    22.90%    25.98%    19.40%

Investment Objective:

Seeks total return.

   

MFS® Total Return Series -

Service Class

 

Advised by: Fidelity MFS®

Investment Management

    0.94%    13.84%    9.57%    9.31%

 

This Supplement must be accompanied or preceded by the applicable Prospectuses.

Please read this Supplement carefully and retain it for future reference.

This Supplement updates certain information in the above referenced Prospectuses (“Prospectuses”). Except as indicated in this Supplement, all other information included in the Prospectuses remains unchanged. We will send you another copy of the applicable Prospectus or any supplement without charge upon request. Please contact our Administrative Office referenced in the Prospectus.

 

This Supplement must be accompanied or preceded by the applicable Prospectuses.

Please read this Supplement carefully and retain it for future reference.