Series L-Share - Transamerica Annuities

Transamerica Variable Annuity Series L-Share

The Transamerica Variable Annuity Series L-Share offers a 4-year surrender charge schedule and gives you the ability to customize your annuity with optional living and death benefits. These give you additional opportunities to grow and protect retirement income and transfer your assets to loved ones.

Details

Benefits

Investment Options

Prospectus

Issue Age

0-89 Annuitant and/or Owner

Minimum Initial Premium

$1,000 (Qualified)
$5,000 (Non-qualified)

Minimum Subsequent Premiums

$50

Maximum Subsequent Premiums (per policy year after 1st policy anniversary)

$25,000 (Non-qualified),
Lesser of $60,000 or IRS
Contribution limit (Qualified)

Maximum Cumulative Premiums

$1,000,000 (0-80)
$500,000 (Over age 80)

Annual Mortality and Expense Fee and Administrative Charge (M&E&A)¹

1.50% (Policy Value Death Benefit)

1.65% (Return of Premium Death Benefit)

1.85% (Annual Step-Up Death Benefit)

Annual Service Charge

$50²

Withdrawal Amount Available Without Surrender Charge

10% of gross premium³

Surrender Charge Schedule

Years Since Premium Payment	%
1	8%
2	8%
3	7%
4	6%
5+	0%

Annual Fund Facilitation Fee

Up to 0.30% annualized fee assessed daily as a percentage of the value of certain subaccounts.

Investment Option Management Fee

Please see prospectus for details

Key Features

Investment options

A comprehensive lineup of investment options from some of the most recognized money managers in the industry.

Automatic asset rebalancing

Maintains the asset allocation balance selected by automatically transferring money between investment options on a regular basis without generating a taxable event, so the original allocation objectives are maintained. Restrictions apply. Please see prospectus for details.

Dollar cost averaging

Allows for gradual investment over time, systematically buying more units when prices are low and fewer units when prices are high. This can potentially lower the average cost of variable units.

Dollar cost averaging requires regular investing regardless of fluctuating prices and does not guarantee profits or prevent losses in a declining market. Individuals should consider their financial ability to continue transfers through periods of both high and low price levels. Amounts allocated to the subaccounts of the separate account are subject to investment risk, including possible loss of principal. Restrictions apply. Please see prospectus for details.

Transfers

During the accumulation phase, 12 free transfers between subaccounts are allowed each year without a fee. Restrictions apply. Please see prospectus for details. ($10 fee per transfer, thereafter.)

Annuitization

The opportunity to receive guaranteed lifetime payments through a variety of payment schedules and options, should the policy be annuitized. Annuitization is permitted after the 3rd policy anniversary. 1st policy anniversary in New York and Florida.

All guarantees, including optional benefits, are backed by the claims-paying ability of the issuing insurance company.

¹ M&E&A is an annual fee assessed daily and is a percentage of the subaccount policy value.
² Up to $35 waived with net premiums paid or policy value of $50,000 or more; up to $50 waived with net premiums paid or policy value of $250,000 or more. $15 may be waived if e-delivery is elected. Waivers are subject to change and may not always be available.
³ 10% of premium payments, less any prior withdrawals in the same policy year. ($500 minimum)

Variable annuities are subject to investment risk, including possible loss of principal. Due to fluctuating market conditions, at the time of distribution, your annuity value may be more or less than the total of all premium payments.

Not all features are available in all states and may vary by state.

All policies, riders, and forms may vary by state, and may not be available in all states. ICC12 VA0513, NIC12 VA0513(FL), NIC12 VA0513(NY)

Investment options may vary by states.

These investment options are intended to be sold to certain asset allocation portfolios and to separate accounts of Transamerica Life Insurance Company or Transamerica Financial Life Insurance Company to fund the benefits under certain individual flexible premium variable insurance policies.

Investment option names may vary from their corresponding underlying portfolio names. Please see the contract prospectus for underlying portfolio names.

TA investment options invest in Transamerica Series Trust Service Class shares (Investment Adviser Transamerica Asset Management, Inc.) The prospectus describes the portfolios that are available in the policy or annuity contract that you have chosen.

Transamerica Aegon Money Market VP changed its name to Transamerica Aegon Government Money Market VP, and the fund will operate as a “government” money market fund under new federal regulations, which become fully effective on October 14, 2016. A “government” money market fund invests at least 99.5% of its total assets in U.S. government securities, cash, and/or repurchase agreements that are fully collateralized by U.S. government securities or cash. An investment in the fund is not a bank deposit and is not insured or guaranteed by the FDIC or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund. Transamerica Asset Management, Inc. and its affiliates are under no obligation to provide financial support to the fund or take other measures to ensure that you do not lose money on your investment in the fund. As a government money market fund, the fund is not required to impose a fee upon sale of your shares (liquidity fees) or temporarily suspend your ability to sell shares if the fund liquidity falls below required minimums (redemption gates), and has no current intention to voluntarily impose such liquidity fees or redemption gates. However, the Board of Trustees reserves the right to impose liquidity fees and/or redemption gates in the future.

The underlying funds of the investment options have different strategies and risks; please see the underlying funds’ prospectuses for a complete description of these strategies and risks for the available investment options.