497

MERRILL LYNCH CONSULTS ANNUITY®

Issued by

TRANSAMERICA ADVISORS LIFE INSURANCE COMPANY

MERRILL LYNCH LIFE VARIABLE ANNUITY SEPARATE ACCOUNT C

Supplement Dated November 18, 2016

to the

Prospectus dated May 1, 2016

Effective on or about December 5, 2016, based on changes to the underlying fund portfolio, the following change applies to the TA Systematic Small/Mid Cap Value subaccount:

 

OLD SUBACCOUNT
NAME

   

NEW SUBACCOUNT
NAME

   

OLD PORTFOLIO
NAME

   

NEW PORTFOLIO
NAME

   

OLD SUBADVISOR

   

NEW SUBADVISOR

TA Systematic Small/Mid Cap Value    TA Small Mid/Cap Value    Transamerica Systematic Small/Mid Cap Value VP    Transamerica Small/Mid Cap Value VP    Systematic Financial Management L.P.    Thompson, Siegel & Walmsley, LLC

 

 

This Prospectus Supplement must be accompanied or preceded

by the Prospectus for the

Merrill Lynch Consults Annuity® dated May 1, 2016