497 1 d424324d497.htm TRANSAMERICA B-SHARE VARIABLE ANNUITY Transamerica B-Share Variable Annuity
Transamerica B-Share Variable Annuity    Transamerica AxiomSM III Variable Annuity
Transamerica I-Share II Variable Annuity   

Issued by

TRANSAMERICA LIFE INSURANCE COMPANY

SEPARATE ACCOUNT VA B

and

TRANSAMERICA FINANCIAL LIFE INSURANCE COMPANY

SEPARATE ACCOUNT VA BNY

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: To provide high total return (including income and capital gains) consistent with preservation of capital over the long term.  

American Funds – Asset
Allocation FundSM Class 4

 

Advised by: Capital Research
and Management CompanySM

   0.80%   0.20%   1.00%   14.84%   11.43%   11.10%
               
Investment Objective: To provide growth of capital.  

American Funds – Growth
FundSM Class 4

 

Advised by: Capital Research
and Management CompanySM

   0.85%   0.13%   0.98%   21.69%   25.12%   19.44%
               
Investment Objective: To achieve long-term growth of capital and income.  

American Funds – Growth-
Income FundSM Class 4

 

Advised by: Capital Research
and Management CompanySM

   0.79%   0.13%   0.92%   12.32%   11.43%   8.83%
               
Investment Objective: To achieve long-term growth of capital.  

American Funds –
International FundSM Class 4

 

Advised by: Capital Research
and Management CompanySM

   1.04%   0.13%   1.17%   -1.71%   9.37%   7.88%
               
Investment Objective: Long-term capital appreciation.  

American Funds – New
World FundSM Class 4

 

Advised by: Capital Research
and Management CompanySM

   1.14%   0.15%   1.29%   4.63%   12.96%   8.41%

 

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

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

               
Investment Objective: To provide as high a level of current income as is consistent with the preservation of capital.  

American Funds – The Bond Fund of AmericaSM Class 4

 

Advised by: Capital Research and Management CompanySM

   0.89%   0.11%   1.00%   -0.59%   3.96%   3.02%
               
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 capital appreciation.  

Fidelity ® VIP Energy Portfolio - Service Class 2

 

Advised by: Fidelity Management & Research Company

   0.90%   0.30%   1.20%   54.83%   -3.55%   0.02%
               
Investment Objective: Seeks capital appreciation.  

Fidelity ® VIP Health Care Portfolio - Service Class 2

 

Advised by: Fidelity Management & Research Company

   0.88%   0.30%   1.18%   11.45%   -   -
               
Investment Objective: Seeks capital appreciation.  

Fidelity ® VIP Consumer Staples - Initial Class 

 

Advised by: Fidelity Management & Research Company

   0.67%   0.50%   1.17%   14.24%   10.20%   11.61%
               
Investment Objective: Seeks capital appreciation.  

Fidelity ® VIP Technology

Portfolio - Initial Class 

 

Advised by: Fidelity Management & Research Company

   0.62%   0.50%   1.12%   28.16%   34.83%   24.38%

 

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.  

Fidelity ® VIP Utilities Portfolio - Initial Class 

 

Advised by: Fidelity Management & Research Company

   0.65%   0.50%   1.15%   17.43%   13.13%   11.57%
               
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%
               
Investment Objective: Seeks capital appreciation with current income as a secondary objective.  

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%
               
Investment Objective: Seeks to provide capital appreciation and a low to moderate level of current income.  

Vanguard® VIF Moderate Allocation Portfolio

 

Advised by: The Vanguard Group, Inc.

   0.12%   0.60%   0.72%   10.07%   10.31%   9.22%

This Supplement updates certain information in the above referenced Prospectuses (“the 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.