497 1 d428069d497.htm SEPARATE ACCOUNT VA BNY Separate Account VA BNY
Transamerica Advisor EliteSM II    Transamerica Variable Annuity I-Share

Issued by

TRANSAMERICA FINANCIAL LIFE INSURANCE COMPANY

SEPARATE ACCOUNT VA BNY

Supplement dated August 25, 2017

to the

Prospectus dated May 1, 2017

Effective on or about September 11, 2017 (the “Closure Date”), the following subaccount (the “Subaccount”) will be closed to new investments.

 

    Vanguard – Equity Index Portfolio

“Closed to new investments” means no one can allocate additional amounts (either through policy transfers or additional premiums) to the Subaccount after the Closure Date.

If you have any amount in the Subaccount on the Closure Date, you may do the following (subject to the terms and conditions contained in the prospectus):

 

    transfer amounts out of the Subaccount into other subaccounts;
    withdraw amounts from the Subaccount; and
    maintain your current investment in the Subaccount.

Please note:         If you have given us allocation instructions for premium payments or other purposes (for example, dollar cost averaging, asset rebalancing or riders that contain asset allocation or rebalancing requirements) directing us to invest in the Subaccount, you need to provide us with new instructions for amounts that would have otherwise gone into that Subaccount. If you do not provide new instructions:

    subsequent premium payments and dollar cost averaging transactions will be re-allocated pro-rata to the remaining available investment choices according to the investment allocation instructions you previously provided; and
    transfers and asset rebalancing transactions will not be processed and new instructions will be required.

Any references in the Prospectus to the above Subaccount is hereby changed as noted above.

    Investors Should Retain this Supplement for Future Reference

 

 

 

This Prospectus Supplement must be accompanied or preceded

by the Prospectus for the

Transamerica Advisor Elite II and Transamerica Variable Annuity I-Share dated May 1, 2017