As filed with the Securities and Exchange Commission on January 15, 2021

Registration No. 333-___________

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM S-1

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

Transamerica Life Insurance Company

(Exact Name of Registrant as specified in its charter)

4333 Edgewood Road, NE

Cedar Rapids, IA 52499

Telephone Number: (319) 355-8511

(Address, including zip code, and telephone number, including area code, of Principal Executive Offices)

Brian Stallworth, Esq.

Transamerica Life Insurance Company

c/o Office of the General Counsel

4333 Edgewood Road, N.E.

Cedar Rapids, IA 52499-4240

Telephone Number: (319) 355-8511

(Name, Address, including zip code, and telephone number, including area code, of Agent for Service)

Approximate date of commencement of proposed sale to the public: As soon as practicable after this registration statement becomes effective.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box.  ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ☐

If this Form is post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

Calculation of Registration Fee

The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.

[Form of Feature Sheet Prospectus Supplement]

TRANSAMERICA STRUCTURED INDEX ADVANTAGE^SM ANNUITY

Issued by Transamerica Life Insurance Company

FEATURE SHEET PROSPECTUS SUPPLEMENT

DISCLOSING

AVAILABLE ALLOCATION ACCOUNTS FOR NEW PREMIUM PAYMENTS

Feature Sheet Prospectus Supplement Dated [                    ] to the Prospectus Dated [                    ]

Effective Date: [                    ]

We are issuing this Feature Sheet Prospectus Supplement to disclose the Allocation Accounts available for investment with respect to both initial and additional premium payments under the Transamerica Structured Index Advantage^SM Annuity. This Feature Sheet Prospectus Supplement should be read in conjunction with the prospectus and retained for future reference. Capitalized terms have the meanings given to them in the prospectus.

As of its effective date, this Feature Sheet Prospectus Supplement will remain in effect until it is superseded by a future Feature Sheet Prospectus Supplement. A superseding Feature Sheet Prospectus Supplement will be issued at least 10 days prior to its effective date.

If you would like another copy of the prospectus or a Feature Sheet Prospectus Supplement, please call us at (800) 525-6205 or visit www.transamerica.com. All Feature Sheet Prospectus Supplements are also available on the Securities and Exchange Commission’s EDGAR system at www.sec.gov. The EDGAR Central Index Key (CIK) for Transamerica Life Insurance Company is 0001164098.

AVAILABLE ALLOCATION ACCOUNTS AND

OTHER INFORMATION FOR NEW PREMIUM PAYMENTS

This Feature Sheet Prospectus Supplement applies to your new premium payment if:

With respect to an applicable premium payment, as described above, this Feature Sheet Prospectus Supplement discloses the following information:

AVAILABLE ALLOCATION ACCOUNTS

Basic Index Account Option[s]

[Best Entry Enhanced Index Account Options]

[Buffer Auto Reset Enhanced Index Account Options]

[Fixed Account]

GUARANTEED GROWTH OPPORTUNITY & DOWNSIDE PROTECTION TYPES

Important information about the current Allocation Options document:

See PREMIUM PAYMENTS – ALLOCATION OF PREMIUM PAYMENTS in the prospectus for additional information.

This Feature Sheet Prospectus Supplement must be accompanied or preceded by the current prospectus.

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

[Form of Feature Sheet Prospectus Supplement]

TRANSAMERICA STRUCTURED INDEX ADVANTAGE^SM ANNUITY

Issued by Transamerica Life Insurance Company

FEATURE SHEET PROSPECTUS SUPPLEMENT

DISCLOSING

AVAILABLE ALLOCATION ACCOUNTS AT END OF CREDITING PERIOD

Feature Sheet Prospectus Supplement Dated [                    ] to the Prospectus Dated [                    ]

For Premium Payments [After [    ] / On or Between [    ] and [    ]]

Effective Date: [                    ]

We are issuing this Feature Sheet Prospectus Supplement to disclose the Allocation Accounts available for investment at the end of a Crediting Period under the Transamerica Structured Index Advantage^SM Annuity.

As of its effective date, this Feature Sheet Prospectus Supplement will remain in effect until it is superseded by a future Feature Sheet Prospectus Supplement. A superseding Feature Sheet Prospectus Supplement will be issued at least 30 days prior to its effective date.

If you would like another copy of the prospectus or a Feature Sheet Prospectus Supplement, please call us at (800) 525-6205 or visit www.transamerica.com. All Feature Sheet Prospectus Supplements are also available on the Securities and Exchange Commission’s EDGAR system at www.sec.gov. The EDGAR Central Index Key (CIK) for Transamerica Life Insurance Company is 0001164098.

AVAILABLE ALLOCATION ACCOUNTS AT END OF CREDITING PERIOD

This Feature Sheet Prospectus Supplement discloses the Allocation Accounts that are available for investment at the end of a Crediting Period for prior premium payments and any related earnings under the Policy to which this Feature Sheet Prospectus Supplement applies.

This Feature Sheet Prospectus Supplement applies to a prior premium payment and any related earnings under the Policy, as follows:

This Feature Sheet Prospectus Supplement does not apply to a prior premium payment that we received [before the date specified above] [outside of the dates specified above]. Nor does it apply to any future additional premium payments, including additional premium payments submitted at the end of a Crediting Period.

AVAILABLE ALLOCATION ACCOUNTS

Basic Index Account Option[s]

[Best Entry Enhanced Index Account Options]

[Buffer Auto Reset Enhanced Index Account Options]

[Fixed Account]

Important information about Renewal Letters:

This Feature Sheet Prospectus Supplement must be accompanied or preceded by the current prospectus.

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

[Form of Rate Sheet Prospectus Supplement]

TRANSAMERICA STRUCTURED INDEX ADVANTAGE^SM ANNUITY

Issued by Transamerica Life Insurance Company

RATE SHEET PROSPECTUS SUPPLEMENT

DISCLOSING

FEE PERCENTAGES FOR GMDB RIDER ELECTIONS

Rate Sheet Prospectus Supplement Dated [                    ] to the Prospectus Dated [                    ]

Effective Date: [                    ]

We are issuing this Rate Sheet Prospectus Supplement to disclose the fee percentages for the Guaranteed Minimum Death Benefit (GMDB) rider that we are currently offering with the Transamerica Structured Index Advantage^SM Annuity. It should be read in conjunction with the prospectus and retained for future reference. Capitalized terms have the meanings given to them in the prospectus.

As of its effective date, this Rate Sheet Prospectus Supplement will remain in effect until it is superseded by a future Rate Sheet Prospectus Supplement. A superseding Rate Sheet Prospectus Supplement will be issued at least 10 days prior to its effective date.

If you would like another copy of the prospectus or a Rate Sheet Prospectus Supplement, please call us at (800) 525-6205 or visit www.transamerica.com. All Rate Sheet Prospectus Supplements are also available on the Securities and Exchange Commission’s EDGAR system at www.sec.gov. The EDGAR Central Index Key (CIK) for Transamerica Life Insurance Company is 0001164098.

FEE PERCENTAGES FOR GMDB RIDER ELECTIONS

This Rate Sheet Prospectus Supplement applies to:

If you are electing or re-electing the rider, only one of the fee percentages listed in the table below will apply to your rider, depending on the age of the Annuitant on the date that you sign the Policy application or at the time your re-election request is received in good order.

Important information about electing the GMDB rider:

This Feature Sheet Prospectus Supplement must be accompanied or preceded by the current prospectus.

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

The information in this prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.

Preliminary Prospectus Dated January 15, 2021

TRANSAMERICA STRUCTURED INDEX ADVANTAGE^SM ANNUITY

An Individual Flexible Premium Deferred Index-Linked Annuity Policy

Issued by Transamerica Life Insurance Company

Administrative Office

4333 Edgewood Road NE

Cedar Rapids, Iowa 52499-0001

(800) 525-6205

www.transamerica.com

This prospectus includes important information you should know before you purchase the Transamerica Structured Index Advantage^SM Annuity (the “Policy”), an individual flexible premium deferred index-linked annuity policy that you can use to accumulate funds for retirement or other long-term financial planning purposes on a tax-deferred basis. When you purchase the Policy, it is a contract between you, as the owner or joint owner, and Transamerica Life Insurance Company (“us,” “we,” “our,” or the “Company”).

The Policy allows you to allocate your premium payments and earnings (if any) among the investment options that we may make available to you, which include one or more index-linked investment options (“Index Account Options”) and a fixed account investment option (the “Fixed Account”).

You should not buy this Policy if you are not willing to assume its investment risks. See PRODUCT RISK FACTORS beginning on page [    ].

We periodically issue Feature Sheet Prospectus Supplements that are part of this prospectus. The Feature Sheet Prospectus Supplements disclose the investment options that are currently available for investment. We also periodically issue Rate Sheet Prospectus Supplements that are part of this prospectus and disclose the fee percentages that we are currently offering for the optional death benefit rider.

Before you select investment options under the Policy, you should carefully review the Allocation Options document or Renewal Letter that is applicable to you.

An Allocation Options document or Renewal Letter is distinct from a Feature Sheet Prospectus Supplement. Like a Feature Sheet Prospectus Supplement, an Allocation Options document or Renewal Letter contains the investment options that are currently available for investment, but it also contains certain rates that may change from time-to-time while a Feature Sheet Prospectus Supplement remains in effect.

Index-linked annuity contracts are complicated investments. You may lose money, including a significant amount of your principal investment. Before you purchase the Policy, you should carefully read this prospectus and speak with your financial professional about whether the Policy is appropriate for you based on your personal circumstances and financial goals. You should also consult with a tax professional.

If you are a new investor in the Policy, you may cancel your Policy within 10 days. In some states or circumstances, this cancellation period may be longer. Upon cancellation, you will receive the value of your Policy plus any fees or charges deducted under the Policy on the date of cancellation unless a different amount is required by law. You should review this prospectus, or consult with your financial professional, for additional information about the specific cancellation terms that apply.

Additional information about certain investment products, including indexed annuities, has been prepared by the SEC’s staff and is available at Investor.gov.

Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved these securities, or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense.

We are not an investment adviser nor are we registered as such with the SEC or any state securities regulatory authority. We are not acting in any fiduciary capacity with respect to your Policy, and nor are we acting in any capacity on behalf of any tax-advantaged retirement plan. This information does not constitute personalized investment advice or financial planning advice. This prospectus is not intended to provide tax, accounting, or legal advice.

Prospective purchasers may obtain an application to purchase the Policy through broker-dealers that have been appointed by us as insurance agents and that have selling agreements with Transamerica Capital, Inc. (“TCI”), the principal underwriter for the Policy. TCI is not required to sell any specific number of Policies. This prospectus is not an offer to sell the securities, and it is not soliciting an offer to buy the securities, in any state where offers or sales are not permitted.

The minimum initial premium payment is $25,000.

Prospectus Date: [                    ]

TABLE OF CONTENTS

[Insert Table of Contents Once Prospectus is Finalized]

Please note this prospectus includes various special terms to describe the Policy. Often, these special terms will be defined as you read this prospectus, typically when first used. We encourage you to cross-reference the section titled GLOSSARY, which contains a list of special terms and their definitions.

SUMMARY

PURPOSE OF THE POLICY

The Transamerica Structured Index Advantage^SM Annuity is an individual flexible premium deferred index-linked annuity policy. You can use the Policy to accumulate funds for retirement or other long-term financial planning purposes on a tax-deferred basis, and you may choose to convert those accumulated funds into a stream of guaranteed income payments from us. The amount of money that you are able to accumulate under your Policy will depend upon the performance of the investment options you select, the fees and charges deducted from your Policy, and the actions that you take with respect to your Policy, such as whether and when you take withdrawals. The Policy also includes a death benefit to help you financially protect your designated beneficiaries.

This Policy may be appropriate if you have a long investment time horizon. This Policy is not designed for people who expect to take early or frequent withdrawals.

Transamerica Life Insurance Company is the issuer of the Policy. An investment in the Policy is subject to the risks related to us. Any obligations, guarantees, and benefits under the Policy are subject to our financial strength and claims-paying ability. See APPENDIX E – TRANSAMERICA LIFE INSURANCE COMPANY AND FINANCIAL STATEMENTS for detailed information about the Company, including financial information.

BUYING THE POLICY

If you, any joint Owner, and the designated Annuitant are younger than age 86, you may buy the Policy. Here is how:

You may return your Policy for a refund, but only if you return it within the prescribed period, which is generally 10 days after you receive the Policy (or 30 days for replacement Policies) but could vary by state. The refund will generally be the Policy Value on the date of cancellation (plus any fees or charges deducted under the Policy on the date of the cancellation), in which case you bear the risk of any decline in your Policy Value during the right to cancel period. State law may require us to refund the greater of your Policy Value or your premium payment(s). For IRAs, we will refund your premium payment(s) if cancelled within the first seven days.

PHASES OF THE POLICY

The Policy, like all deferred annuity policies, has two phases: (1) an “accumulation phase” for savings and (2) an “income phase” for a stream of income.

The Accumulation Phase

You should consider the following important features of the accumulation phase:

We may also refer to these investment options individually as an “Allocation Account” and collectively as “Allocation Accounts.” The performance of your Policy will vary depending on the performance of the Allocation Accounts that you choose. Each Allocation Account has its own unique risks. Please note that a specific Allocation Account, including the Fixed Account, may not always be available for investment by new or existing investors.

If you invest in an Index Account, the Index Account may provide only limited protection against loss. Your losses could be significant.

At the end of the Crediting Period for an Allocation Account, you may choose to reinvest in the same Allocation Account for another Crediting Period, based on the rates that we declare for the upcoming Crediting Period, if we make that Allocation Account available for investment. At least 21 days before the end of each Crediting Period, we will send you a personalized letter informing you, among other information, of the Allocation Accounts that will be available for investment at the end of the Crediting Period (the “Renewal Letter”).

Please note that if you invest in the same Allocation Account at different times, it is possible that you may have multiple ongoing Crediting Periods for the same Allocation Account.

You should carefully consider the risks and consequences associated with a Surrender or withdrawal under the Policy. Surrender charges that may apply upon Surrender or withdrawal may be significant. In addition, a Surrender or withdrawal prior to the end of a Crediting Period may significantly reduce the value of your investment and result in losses.

The Income Phase

After your third Policy Anniversary (or earlier if required by state law), you may elect to annuitize your Policy, converting your accumulated assets into a stream of guaranteed income payments from us. This is the Policy’s income phase. The Policy includes multiple fixed income options from which you can select.

If you have not annuitized your Policy by the Policy Anniversary on or following the Annuitant’s 99^th birthday (or earlier if required by state law), your Policy will automatically enter the income phase. If you have not elected a fixed income option at that time, the fixed income option “Life with 10 Years Certain” will be selected for you unless we agree to another method of payment.

When your Policy enters the income phase, the accumulation phase ends. You cannot invest in any Allocation Accounts during the income phase, and you cannot withdraw money from your Policy during the income phase. The death benefit from the accumulation phase terminates at the beginning of the income phase (including any optional death benefit rider), although certain fixed income options may provide for an amount payable upon death.

FEES AND CHARGES

Charges for Early Withdrawals (Surrender Charges). If you take a withdrawal from your Policy, or Surrender your Policy, during the first 6 years after you purchase the Policy or make an additional premium payment, you will be assessed a surrender charge of up to 8% (as a percentage of premium payments withdrawn), declining to 0% over that time period. For example, if you were to withdraw $100,000 during the surrender charge period, you could be assessed a charge of up to $8,000 on the amount withdrawn.

Surrender charges do not apply to certain amounts withdrawn during the surrender charge period, regardless of whether such amounts are withdrawn as part of a withdrawal or Surrender.

Ongoing Fees and Charges. Listed below are the fees and charges you may pay each year under the Policy. Please refer to your Policy’s specifications page for information about the specific fees and charges that apply to you.

The GMDB rider fee percentages that may apply to you are disclosed in a Rate Sheet Prospectus Supplement. All Rate Sheet Prospectus Supplements are available on the SEC’s EDGAR system at www.sec.gov (Central Index Key (CIK) 0001164098). You may also visit www.transamerica.com or contact our Administrative Office for the Rate Sheet Prospectus Supplement applicable to you.

Transaction Charges. Other than surrender charges, the following transaction charges may apply under the Policy:

TYPES OF ACCOUNTS

Fixed Holding Account

Before an initial or additional premium payment is allocated to one or more Allocation Accounts, it will be held in the Fixed Holding Account until the next upcoming 1st, 8th, 15th, or 22nd calendar day of any month, whichever occurs first. On such day, the premium payment (plus any accrued interest) will be allocated to the appropriate Allocation Account(s) and the Crediting Period(s) will begin on that day.

If a premium payment is received on the 1st, 8th, 15th, or 22nd calendar day, it will be allocated on the next 1st, 8th, 15th, or 22nd calendar day of any month, whichever occurs first.

Amounts held in the Fixed Holding Account are credited compound interest daily based on the fixed annual interest rate in effect at that time. We may change the current annual interest rate for the Fixed Holding Account at any time at our discretion, subject to the guaranteed minimum effective annual interest rate described in this prospectus.

Please note that while premium payments are held in the Fixed Holding Account pending their allocation to one or more Allocation Accounts, the Fixed Holding Account is not an investment option that you can select for investment.

Fixed Account

If we offer the Fixed Account and you select it for investment, we guarantee your principal and a fixed annual interest rate for the length of the applicable Crediting Period. We will credit compound interest daily throughout the Crediting Period based on the annual interest rate we declared for that Crediting Period. We may offer Crediting Periods for the Fixed Account ranging from 1 to 6 years in length.

We currently offer the Fixed Account with a 1-year Crediting Period and we may choose to offer longer Crediting Periods for the Fixed Account from time to time. We will continue to offer the Fixed Account with a 1-year Crediting Period for so long as that Allocation Account is designated by us as the Default Option.

We will declare the annual interest rate for a Crediting Period prior to the beginning of the Crediting Period. We guarantee that the annual interest rate declared for a Crediting Period will not change. However, the annual interest rates we declare may differ from Crediting Period-to-Crediting Period and may differ based on the lengths of the Crediting Periods offered.

We determine annual interest rates for the Fixed Account at our discretion, subject to the guaranteed minimum effective annual interest rate described in this prospectus.

Index Accounts

Generally. When you invest in an Index Account Option, your investment begins on the first day of the Crediting Period and generally ends on the last day of the Crediting Period. There are certain events that could end your investment before the last day of the Crediting Period, such as if you take a full withdrawal from that Index Account Option, Surrender the Policy, or annuitize the Policy, or if the death benefit becomes payable, before the end of the Crediting Period.

At the end of the Crediting Period, we apply gain or loss to your Policy based on how the Index Account Option performed. The Index Account Option’s performance is linked to the performance of a specific market index or exchange-traded fund (the “Index”). The Index’s performance is generally measured by calculating the net percentage change in the value of the Index (the “Index Change”) between the first day of the Crediting Period (the “Initial Index Value”) and the last day of the Crediting Period (the “Final Index Value”).

For example, regardless of how the Index otherwise performed between the beginning and end of the Crediting Period:

As a general matter (excluding the impact of fees and charges):

Index Account Option Value. The value of your investment in an Index Account Option at the end of a Crediting Period is represented by your Index Account Option Value. Your Index Account Option Value is calculated by applying the “Index Credit Rate” to your “Index Base.”

The Index Credit Rate and the Index Credit may be positive, negative, or zero.

When your Index Base is subject to a negative adjustment, your Index Base will be reduced by a proportion equal to the reduction in your Interim Value (discussed below), which will be reduced dollar-for-dollar based on the amount deducted from the Index Account Option. There is no way to increase your Index Base during a Crediting Period, and therefore no way to reverse or offset the negative impact of a negative adjustment to your Index Base.

A negative adjustment to your Index Base could result in less gain (if any) or more loss at the end of a Crediting Period, perhaps significantly less gain or more loss, because the Index Credit Rate will be applied to a lower Index Base. All withdrawals taken, and fees and charges deducted, before the end of a Crediting Period will trigger a negative adjustment to your Index Base, even fees and charges that are periodically deducted from your Policy. A negative adjustment to your Index Base may be greater than the reduction in your Interim Value. See APPENDIX B: ADDITIONAL EXAMPLES FOR INDEX ACCOUNT OPTIONS for examples of how your Index Base could be negatively adjusted as a result of a fee or withdrawal.

The following is an example of how we calculate your Index Account Option Value at the end of a Crediting Period: Assume you invest $10,000 in an Index Account Option. At the beginning of the Crediting Period, your Index Base is $10,000. At the end of the Crediting Period, your Index Base is still $10,000, assuming there were no deductions for fees or withdrawals before the end of the Crediting Period. At the end of the Crediting Period, we will apply the Index Credit Rate to your Index Base to calculate your Index Account Option Value.

Interim Values. Please note that we do calculate the value of your investment in an Index Account Option each Business Day between the first and last day of the Crediting Period (each, an “Interim Value”). The Interim Value on a given Business Day determines the amount available from that Index Account Option for withdrawals, Surrender, annuitization, and the death benefit and to pay fees and charges. The Interim Value is calculated at the end of a Business Day.

Similar to the end of a Crediting Period, we calculate Interim Values by applying a percentage gain or loss to your Index Base. However, we calculate the percentage gain or loss for each Interim Value differently than the percentage gain or loss at the end of the Crediting Period. Our process for calculating Interim Values is explained in detail in APPENDIX A: INTERIM VALUE CALCULATIONS AND EXAMPLES.

Gains and losses for Interim Values are not directly tied to the performance of the Index for the Index Account Option. In general, we calculate gains and losses by using a formula that looks to the values of certain derivative and fixed income instruments, which is designed to produce an estimated fair value for your investment in the Index Account Option on that Business Day. The estimated fair value is intended to reflect factors such as the likelihood, and magnitude of, a positive or negative Index Credit Rate at the end of the Crediting Period, the length of time remaining in the Crediting Period, and the risk of loss and the possibility of gain at the end of the Crediting Period.

The Interim Value for an Index Account Option may change each Business Day, and the change may be positive or negative compared to the last Business Day (even when the Index has increased in value). You should understand that the Interim Value for an Index Account Option on a Business Day will not impact the future performance of that Index Account Option for the remainder of the Crediting Period unless one of the following occurs on that Business Day:

In any of those circumstances—including the deduction of a periodic fee or charge—the transaction will be processed based on the Interim Value for that Index Account Option on that Business Day. Interim Values for an Index Account Option generally reflect less upside potential and less downside protection than would otherwise apply at the end of the Crediting Period. As such, when a transaction is processed based on an Interim Value, the Interim Value could reflect less gain or more loss (perhaps significantly less gain or more loss) than would be applied at the end of the Crediting Period. This means that there could be significantly less money available under your Policy for fees and charges, withdrawals, a Surrender, annuitization, and the death benefit.

TYPES OF INDEX ACCOUNT OPTIONS

There are two categories of Index Account Options: “Basic Index Account Options” and “Enhanced Index Account Options.”

We may also offer Basic Index Account Options for an additional fee that include “Credit Advantage” Growth Opportunity Types, which have increased upside potential compared to a Basic Index Account Option that does not have the Credit Advantage feature but is otherwise identical.

There is no guarantee that the increased upside potential of a Credit Advantage Growth Opportunity Type will result in gains at least equal to the additional fee or any gains at all. The additional fee would increase any losses or decrease any gains.

The following two sections, ADDITIONAL INFORMATION ABOUT BASIC INDEX ACCOUNT OPTIONS and ADDITIONAL INFORMATION ABOUT ENHANCED INDEX ACCOUNT OPTIONS, provide additional information about these two categories of Index Account Options, including how gains and losses are calculated at the end of a Crediting Period.

ADDITIONAL INFORMATION ABOUT BASIC INDEX ACCOUNT OPTIONS

Each Basic Index Account Option that we offer for investment combines one Index, one Crediting Period, one Growth Opportunity Type, and one Downside Protection Type from those listed in the tables below. For example, we may offer as a Basic Index Account Option: S&P 500^® Index, 1-Year Crediting Period, Cap, and Buffer (with specific rates that we declare for the Cap and Buffer). We will typically offer a variety of Basic Index Account Options from which you may choose. However, you are not permitted to design your own Basic Index Account Options.

Calculating Gain Using the Growth Opportunity Type

At the end of the Crediting Period for a Basic Index Account Option, if the Index Change is positive or zero, we use the applicable Growth Opportunity Type to calculate your gain, if any. Each Basic Index Account Option has only one Growth Opportunity Type.

This section summarizes how we calculate an Index Credit Rate using the different Growth Opportunity Types for the Basic Index Account Options. You should refer to the examples later in this prospectus to further help you understand how an Index Credit Rate for a Basic Index Account Option will be calculated when the Index Change is positive or zero. See ADDITIONAL INFORMATION ABOUT BASIC INDEX ACCOUNT OPTIONS – CALCULATING GAIN USING THE GROWTH OPPORTUNITY TYPE later in this prospectus.

A Growth Opportunity Type may limit your participation in positive Index performance, limiting the upside potential of your investment.

Cap. For a Basic Index Account Option with a Cap as its Growth Opportunity Type, if the Index Change at the end of the Crediting Period is positive, the value of your investment will increase. If the Index Change is zero, the value of your investment will neither increase nor decrease.

We calculate your Index Credit Rate using the Cap as follows:

Under this Growth Opportunity Type, you will not participate in any Index performance above the Cap Rate. The Cap Rate limits the upside potential of your investment.

Credit Advantage Cap. When we offer a Basic Index Account Option that has a Cap as its Growth Opportunity Type, we may offer for an additional fee an identical Basic Index Account Option except with a Credit Advantage Cap as its Growth Opportunity Type. We calculate the Index Credit Rate using a Credit Advantage Cap the same way as a Cap, except that the Cap Rate for the Basic Index Account Option with the Credit Advantage Cap will be higher than the otherwise identical Basic Index Account Option with the Cap. The Credit Advantage Cap therefore provides more upside potential in exchange for the additional fee.

For a Basic Index Account Option with Cap+ Accelerator as its Growth Opportunity Type, if the Index Change at the end of the Crediting Period is positive, the value of your investment will increase. If the Index Change is zero, the value of your investment will neither increase nor decrease.

We calculate your Index Credit Rate using Cap+ Accelerator as follows:

While Cap+ Accelerator potentially presents more upside potential compared to the Cap Growth Opportunity Type by allowing you to potentially participate in Index performance that exceeds the Cap Rate, this Growth Opportunity Type also limits the upside potential of your investment because you will not participate in any Index performance between the Cap Rate and the Cap+ Accelerator Rate.

Participation. For a Basic Index Account Option with Participation as its Growth Opportunity Type, if the Index Change at the end of the Crediting Period is positive, the value of your investment will increase. If the Index Change is zero, the value of your investment will neither increase nor decrease.

We calculate your Index Credit Rate by multiplying the Index Change by the Growth Opportunity Participation Rate.

If the Growth Opportunity Participation Rate is less than 100%, you will not fully participate in positive Index performance, limiting the upside potential of your investment. We may offer Growth Opportunity Participation Rates greater than 100%, which would have the effect of increasing your gains relative to the Index Change.

Credit Advantage Participation. When we offer a Basic Index Account Option with Participation as its Growth Opportunity Type, we may offer for an additional fee an identical Basic Index Account Option except with Credit Advantage Participation as its Growth Opportunity Type. We calculate the Index Credit Rate using Credit Advantage Participation the same way as Participation, except that the Growth Opportunity Participation Rate for the Basic Index Account Option with Credit Advantage Participation will be higher than the Growth Opportunity Participation Rate for the otherwise identical Basic Index Account Option with Participation. Credit Advantage Participation therefore provides more upside potential in exchange for the additional fee.

For a Basic Index Account Option with Accelerated Tiered Participation as its Growth Opportunity Type, if the Index Change at the end of the Crediting Period is positive, the value of your investment will increase. If the Index Change is zero, the value of your investment will neither increase nor decrease.

We calculate your Index Credit Rate using Accelerated Tiered Participation as follows:

If the Tier Participation Rate that we declare for any Tier Level is less than 100%, you may not fully participate in the positive Index performance, limiting the upside potential of your investment. We may offer Tier Participation Rates greater than 100%, which could have the effect of increasing your gains relative to the Index Change depending on the other Tier Participation Rates and the Index Change.

For a Basic Index Account Option with Value Trigger as its Growth Opportunity Type, if the Index Change at the end of the Crediting Period is positive or zero, the value of your investment will increase.

Your Index Credit Rate will equal the Value Trigger Rate.

While Value Trigger will result in an increase in the value of your investment so long as the Index Change at the end of the Crediting Period is positive or zero, you will not participate in any Index performance in excess of the Value Trigger Rate, which limits the upside potential of your investment.

Value Trigger+. For a Basic Index Account Option with Value Trigger+ as its Growth Opportunity Type, if the Index Change at the end of the Crediting Period is positive or zero, the value of your investment will increase.

Your Index Credit Rate will equal the greater of (a) the Value Trigger+ Rate or (b) the Index Change multiplied by the Value Trigger+ Participation Rate.

While Value Trigger+ potentially has increased upside potential compared to the Value Trigger Growth Opportunity Type because Value Trigger+ potentially allows you to participate in positive Index performance in excess of the Value Trigger+ Rate, this Growth Opportunity Type may also limit the upside potential of your investment. This is because you will not fully participate in any positive Index performance in excess of the Value Trigger+ Rate if the Value Trigger+ Participation Rate is less than 100%.

Credit Advantage Value Trigger+. When we offer a Basic Index Account Option with Value Trigger+ as its Growth Opportunity Type, we may offer for an additional fee an identical Basic Index Account Option except with Credit Advantage Value Trigger+ as its Growth Opportunity Type. We calculate the Index Credit Rate using Credit Advantage Value Trigger+ the same way as Value Trigger+, except that the Value Trigger+ Rate and/or Value Trigger+ Participation Rate for the Basic Index Account Option with Credit Advantage Value Trigger+ would be higher than the otherwise identical Basic Index Account Option with Value Trigger+. Credit Advantage Value Trigger+ therefore provides more upside potential in exchange for the additional fee.

Calculating Loss Using the Downside Protection Type

At the end of the Crediting Period for a Basic Index Account Option, if the Index Change is negative, we use the applicable Downside Protection Type to calculate your loss (if any). Each Basic Index Account Option has only one Downside Protection Type.

This section summarizes how we calculate an Index Credit Rate using the different Downside Protection Types for the Basic Index Account Options. You should refer to the examples later in this prospectus to further help you understand how an Index Credit Rate for a Basic Index Account Option will be calculated when the Index Change is negative. See ADDITIONAL INFORMATION ABOUT BASIC INDEX ACCOUNT OPTIONS – CALCULATING LOSS USING THE DOWNSIDE PROTECTION TYPE later in this prospectus.

A Downside Protection Type may provide only limited protection against loss. Your losses could be significant.

For a Basic Index Account Option with a Buffer as its Downside Protection Type, if the Index Change at the end of the Crediting Period is negative, the value of your investment will decrease only to the extent that the Buffer does not protect you from loss.

We calculate your Index Credit Rate using the Buffer as follows:

The Buffer Rate represents the percentage of your investment that is protected from loss. For instance, assuming a Buffer Rate of 10%, it is possible that you could lose 90% of your investment as a result of negative Index performance. Unlike with a Floor, however, a Buffer absorbs the impact of negative Index performance before negative Index performance impacts your Policy.

The Buffer’s downside protection is limited. You assume the risk of loss for negative Index performance in excess of the Buffer Rate. Your losses could be significant.

For a Basic Index Account Option with a Floor as its Downside Protection Type, if the Index Change at the end of the Crediting Period is negative, the value of your investment will decrease, but it will not decrease beyond the downside protection provided by the Floor.

We calculate your Index Credit Rate using the Floor as follows:

The Floor Rate represents the percentage of your investment that is protected from loss. For instance, assuming a Floor Rate of 80%, it is possible that you could lose up to 20% of your investment as a result of negative Index performance, which means the Index Credit Rate could be as low as -20%. Unlike with a Buffer, however, your Policy is impacted by negative Index performance before any negative Index performance is absorbed by the Floor.

If the Floor Rate is 100%, the Floor provides complete protection from loss related to the negative Index performance. The Index Credit Rate cannot be lower than 0% when the Floor Rate equals 100%.

When the Floor Rate is less than 100%, the Floor provides only limited downside protection. You assume the risk of loss for negative Index performance that does not exceed the Floor based on the Floor Rate. Your losses could be significant depending on the Floor Rate. A Floor Rate of 100% would provide complete protection against loss, but is likely to be part of an Index Account Option with significantly limited upside potential.

The Buffer and Floor Downside Protection Type is a combination of the Buffer Downside Protection Type and the Floor Downside Protection Type. If the Index Change at the end of the Crediting Period is negative, the value of your investment may or may not decrease.

For a Basic Index Account with Buffer and Floor as its Downside Protection Type, if the Index Change at the end of the Crediting Period is negative, we will apply either the Buffer (based on the Buffer Rate) or the Floor (based on the Floor Rate) to calculate your loss (if any), whichever results in less loss (or no loss) for you.

Buffer and Floor does not provide complete downside protection. You may lose any amounts not protected by the Buffer or Floor, whichever ultimately applies. Your losses could be significant.

For a Basic Index Account Option with Participation as its Downside Protection Type, if the Index Change at the end of the Crediting Period is negative, the value of your investment will decrease, but you will participate in only a portion of the negative Index performance.

Your Index Credit Rate will equal the Index Change multiplied by the Downside Protection Participation Rate.

Participation as a Downside Protection Type does not provide complete downside protection. Participation as a Downside Protection Type provides only limited downside protection by limiting the extent to which you participate in negative Index performance. Your losses could be significant.

ADDITIONAL INFORMATION ABOUT ENHANCED INDEX ACCOUNT OPTIONS

Currently, we may offer two types of Enhanced Index Account Options. The first type is called “Best Entry.” The second type is called “Buffer Auto Reset.” Each Enhanced Index Account Option that we may currently offer includes the following four components: (1) an Index, (2) a Crediting Period, (3) a Cap for the Growth Opportunity Type, and (4) a Buffer for the Downside Protection Type, as reflected in the following tables:

In addition to the Index, Crediting Period, Growth Opportunity Type, and Downside Protection Type, each Enhanced Index Account Option includes a reset feature that may help you increase gains or decrease losses, as explained further below.

Best Entry

Best Entry includes an Initial Index Value reset feature. This feature may help you increase gains or decrease losses because the Initial Index Value used to calculate the Index Change may be lower than the Index Value on the first day of the Crediting Period. As such, at the end of the Crediting Period, this feature may result in a higher Index Change (potentially increasing your gains or decreasing your losses).    

At the end of the Crediting Period, we will calculate the Index Credit Rate the same way as a Basic Index Account Option with a Cap (if the Index Change is positive or zero) or Buffer (if the Index Change is negative). The only potential difference is that the Initial Index Value used to calculate the Index Change may not equal the Index Value from the first day of the Crediting Period. It may be lower.

How the Initial Index Value reset feature works:

For an example of the Initial Index Value reset feature, see ADDITIONAL INFORMATION ABOUT ENHANCED INDEX ACCOUNT OPTIONS – Best Entry later in this prospectus.

While Best Entry may help you increase your gains or decrease your losses, it is subject to the same risks associated with the Cap Growth Opportunity Type and the Buffer Downside Protection Type.

Buffer Auto Reset

This Enhanced Index Account Option includes a Buffer reset feature. This feature utilizes the Buffer in a manner that is different than any other Index Account Option by not only providing limited protection from loss, but also potentially protecting gains.

For all other Index Account Options that have a Buffer as a Downside Protection Type, the Buffer applies only when the Index Change is negative. As a result, the Buffer for any such Index Account Option only provides downside protection. If the Index Change is positive, the Buffer for any such Index Account Option plays no role in calculating gain.

Under Buffer Auto Reset, the Buffer not only applies when the Index Change is negative, but it may also apply when the Index Change is positive. By potentially applying the Buffer when the Index Change is positive, Buffer Auto Reset may protect potential gains from downward fluctuations in the performance of an Index during a Crediting Period.

How the Buffer reset feature works:

The maximum Buffer Reference Level is based on the Initial Index Value and the Cap Rate. For instance, if the Initial Index Value is 1000 and the Cap Rate is 20%, the maximum Buffer Reference Level is 1200 (i.e., 1000 x (1 + 20%) = 1200).

At the end of the Crediting Period, the Buffer reset feature may impact your Index Credit Rate as follows:

To calculate your Index Credit Rate at the end of the Crediting Period, we use a mathematical formula described later in this prospectus. This formula is based on the same principles as any other Index Account Option with a Cap as its Growth Opportunity Type and Buffer as its Downside Protection Type, except it includes additional components that reflect the potential application of the Buffer when the Index Change is positive or negative.

For examples illustrating how the Buffer Reference Level may reset during a Crediting Period, and an explanation of how we calculate the Index Credit Rate at the end of a Crediting Period, see ADDITIONAL INFORMATION ABOUT ENHANCED INDEX ACCOUNT OPTIONS – Buffer Auto Reset later in this prospectus.

While Buffer Auto Reset may help protect potential gains during the Crediting Period, it is subject to the same risks associated with the Cap Growth Opportunity Type and Buffer Downside Protection Type.

SUMMARY OF ACTIONS YOU MAY TAKE AT THE END OF A CREDITING PERIOD

On the last day of the Crediting Period for an Allocation Account, you may take any of the actions listed below (in addition to annuitizing your Policy, if applicable). We must receive your instructions no later than one Business Day before the end of the Crediting Period. In the absence of instructions, your Policy Value will be automatically reinvested in the same Allocation Account or transferred to a default Allocation Account. See TRANSFERS AND REINVESTMENTS later in this prospectus for additional information.

Please note that you may fully or partially withdraw your Policy Value from any Allocation Account at any time during the accumulation phase, but there are additional risks associated with withdrawals taken prior to the end of a Crediting Period for an Index Account Option.

SUMMARY OF ACTIONS YOU MAY TAKE BEFORE THE END OF A CREDITING PERIOD

Before the last day of the Crediting Period for an Allocation Account, the only action you may take (other than annuitizing your Policy, if applicable) with respect to the Policy Value invested to that Allocation Account is to fully or partially withdraw it from the Policy. However, this Policy is designed for investors who expect to remain invested in an Allocation Account until the end of its Crediting Period. If you expect to take early or frequent withdrawals, this Policy may not be appropriate for you.

While the Policy permits you to take a withdrawal or Surrender at any time during the accumulation phase, including before the end of a Crediting Period, you should carefully consider the special consequences of taking a withdrawal or Surrender before the end of a Crediting Period for an Index Account Option. The following consequences are in addition to the fees and charges (including surrender charges) that may be triggered whenever you take a withdrawal or Surrender:

See APPENDIX B: ADDITIONAL EXAMPLES FOR INDEX ACCOUNT OPTIONS for examples of how your Index Base could be negatively adjusted as a result of a fee or withdrawal.

SELECTING YOUR INVESTMENT OPTIONS

This prospectus describes the Allocation Accounts that we may make available for investment. The Allocation Accounts that we are currently making available for investment will change from time to time. As a result, it is possible that an Allocation Account described in this prospectus will not be available to you at the time you purchase the Policy or make an additional premium payment, or at the end of a Crediting Period.

If we stop making an Allocation Account available, it will be closed such that no new premiums, reallocations, or transfers will be allowed into that Allocation Account. If you are currently invested in an Allocation Account and it is discontinued, you may remain in that Allocation Account until the end of the Crediting Period.

If you are not comfortable with the risk that we may not offer Allocation Accounts in the future that are attractive to you based on your personal preferences, risk tolerances, or time horizon, this Policy may not be appropriate for you. You may Surrender your Policy if there are no Allocations Accounts that you wish to select, but the Surrender may be subject to surrender charges, will be based on an Interim Value if taken before the end of a Crediting Period for an Index Account Option, and your Policy will terminate.

Allocation Options Document, Renewal Letter, and Feature Sheet Prospectus Supplements

It is important for you to obtain and carefully review the current Allocation Options document when purchasing the Policy and when making an additional premium payment, and to obtain your Renewal Letter before the end of each Crediting Period.

These documents will provide you with complete information about the Allocation Accounts that are available for investment, including:

In addition, the Allocation Options document will specify the annual interest rate for the Fixed Holding Account. It will also specify the Growth Opportunity Type(s) and Downside Protection Type(s) that are guaranteed to be part of at least one Index Account Option available for investment at the end of each Crediting Period, with respect to any premium payment to which that Allocation Options document applies.

For a complete list of the rates we may declare for the Allocation Accounts and the Fixed Holding Account, see SELECTING YOUR INVESTMENT OPTIONS – ALLOCATION OPTIONS DOCUMENT AND FEATURE SHEET PROSPECTUS SUPPLEMENTS later in this prospectus.

We periodically issue Feature Sheet Prospectus Supplements that are part of this prospectus. The Feature Sheet Prospectus Supplements also contain information about the Allocation Accounts that we are offering for investment, but contain only a subset of the information included in the current Allocation Options document or a Renewal Letter. The Feature Sheet Prospectus Supplements do not contain the declared rates for Growth Opportunity Types, Credit Advantage Fee percentages, and current interest rates, to the extent applicable. Those rates may change while a Feature Sheet Prospectus Supplement remains in effect, as reflected in the Allocation Options documents or Renewal Letters that we make available. You should review the current Allocation Options document or your Renewal Letter for that important information, as explained further below. All Feature Sheet Prospectus Supplements are available on the SEC’s EDGAR system at www.sec.gov. The EDGAR Central Index Key (CIK) for Transamerica Life Insurance Company is 0001164098. Feature Sheet Prospectus Supplements that are currently effective or pending effectiveness are available on our website, www.transamerica.com/[    ]. You may also contact our Administrative Office or your financial intermediary for a Feature Sheet Prospectus Supplement.

Additional Information for Prospective Purchasers Selecting Investment Options

If you are a prospective purchaser of the Policy, you will receive the current Allocation Options document during the application process. In order to guarantee that the information in that Allocation Options document will apply to your initial premium payment, you must sign your application while that Allocation Options document remains in effect. After you sign your application, we must also receive your initial premium payment within 14 calendar days of your signature date (or 60 calendar days if the Policy is funded through an exchange, transfer, or rollover). If these conditions are not met, your application will be considered not in good order. If you decide to proceed with the purchase of the Policy after we determine that your application is not in good order, additional paperwork may be required to issue the Policy, and the Allocation Options document in effect at that time will apply your initial premium payment.

When you receive the prospectus during the application process, it will be accompanied by the effective Feature Sheet Prospectus Supplement applicable to new premium payments. There is only one Feature Sheet Prospectus Supplement applicable to new premium payments in effect at any time. This Feature Sheet Prospectus Supplement will contain certain information about the Allocation Accounts that are available for investment with respect to your initial premium payment; however, you should refer to the Allocation Options document for complete information.

You should not purchase the Policy until you have obtained and carefully reviewed the current Allocation Options document.

Additional Information for Existing Policy Owners Selecting Investment Options – Additional Premium Payment

If you decide to make an additional premium payment, you may invest in any Allocation Account that we are currently offering for investment in connection with new premium payments. Before you select your investment options, you should obtain and carefully review the current Allocation Options document, which will be available online at www.transamerica.com/[    ] or upon request by contacting our Administrative Office or your financial intermediary.

When submitting an additional premium payment, in order to guarantee the current Allocation Options document will apply to your additional premium payment, we must receive your additional premium payment while the current Allocation Options document remains in effect.

Information about the Allocation Accounts that we are making available for investment in connection with new premium payments will also be delivered to you from time-to-time in Feature Sheet Prospectus Supplements applicable to new premium payments. There is only one Feature Sheet Prospectus Supplement applicable to new premium payments in effect at any time. A Feature Sheet Prospectus Supplement will contain only certain information about the Allocation Accounts that are available for investment in connection with new premium payments. You should refer to the current Allocation Options document for complete information.

If your additional premium payment is not accompanied by allocation instructions and your standing allocation instructions are not in good order, your premium payment (or a portion thereof) will be automatically allocated to a default Allocation Account. See PREMIUM PAYMENTS – ALLOCATION OF PREMIUM PAYMENTS later in this prospectus for additional information.

Additional Information for Existing Policy Owners Selecting Investment Options – End of Crediting Period

At least 21 days before the end of each Crediting Period, we will send you a Renewal Letter and the Feature Sheet Prospectus Supplement in effect. Among other information, the Renewal Letter will: (i) remind you of your opportunity to decide how your Policy Value in the expiring Allocation Account should be invested; (ii) inform you of the Allocation Account(s) that will be available to you for investment, with complete information about the rates we declared for such Allocation Account(s); and (iii) remind you to submit instructions to us at least one Business Day before the end of the Crediting Period. You may also request the Renewal Letter by contacting our Administrative Office or your financial intermediary.

We periodically issue Feature Sheet Prospectus Supplements disclosing the Allocation Account(s) that are available for investment at the end of a Crediting Period. These Feature Sheet Prospectus Supplements are distinct from the Feature Sheet Prospectus Supplements for new premium payments, and there may be multiple of these Feature Sheet Prospectus Supplements in effect at any time. Each Feature Sheet Prospectus Supplement for the end of a Crediting Period applies only to Policy Value tracing back to premium payments made after or between certain dates, which is determined as follows:

If you make multiple premium payments, different Feature Sheet Prospectus Supplements may apply at the ends of different Crediting Periods.

The applicable Feature Sheet Prospectus Supplement(s) will contain certain information about the Allocation Accounts that are available for investment at the end of a Crediting Period; however, you should refer to your Renewal Letter for complete information. Your Renewal Letter will contain complete, personalized information about the Allocation Accounts that are available to you based on when you made your premium payment(s).

CONTACT US

For more information about the Policy or to submit a request, you should contact us by:

PRODUCT RISK FACTORS

RISK OF LOSS

An investment in this Policy is subject to the risk of loss. You may lose money, including a significant amount of your principal investment.

LIQUIDITY RISK

We designed the Policy to be a long-term investment. If you are not a long-term investor, this Policy may not be appropriate for you.

INDEX PERFORMANCE RISK

The following risks related to Index performance apply when you invest in any Index Account Option.

The Indexes are subject to a variety of investment risks, many of which are complicated and interrelated. These risks may impact capital markets generally, specific market segments, or specific issuers. The risk levels associated with the Indexes also vary. If you invest in an Index Account Option with an Index that exposes you to higher investment risks, your risk of loss may be higher depending on the Index Account Option’s downside protection.

Among other investment risks, each Index is exposed to market, issuer, and equity risk. Market risk is the risk that an Index could perform negatively over short periods due to short-term market movements and over longer periods during more prolonged market downturns. Issuer risk is the risk that changes in the financial condition or credit rating of an issuer of securities may cause the value of the Index to decline. Equity risk is the risk that changes in the value of equity securities may be more volatile than those of other asset classes, and that equity securities may underperform in comparison to the general financial markets, a particular financial market, or other asset classes.

See INDEXES for a summary of other important investment risks to which you may be exposed when you invest in an Index Account Option that is linked to a particular Index

WITHDRAWAL AND SURRENDER RISK

You should fully understand the risks associated with any withdrawal (including the deduction of any fees or charges) or Surrender before you purchase the Policy and before you decide to take a withdrawal or Surrender. You should consult with your financial and tax professionals before you purchase the Policy or take a withdrawal or Surrender.

DOWNSIDE PROTECTION TYPE RISK

No Downside Protection Type provides complete protection from loss related to negative Index performance (except the Floor Downside Protection Type when it has a Floor Rate of 100%, if available). Any Policy Value that you invest in an Index Account Option will benefit from the downside protection afforded by that Index Account Option’s Downside Protection Type, but that protection is generally limited. You assume the risk that you will incur losses to the extent that the Downside Protection Type does not protect you from negative Index performance. Your losses could be significant.

In general, depending on declared rates, an Index Account Option with relatively more downside protection based on its Downside Protection Type is likely to have relatively less upside potential based on its Growth Opportunity Type. Conversely, depending on declared rates, an Index Account Option with relatively less downside protection based on its Downside Protection Type is likely to have more upside potential based on its Growth Opportunity Type.

We set the rates for all Downside Protection Types in our discretion. You bear the risk that the rates we declare for any Downside Protection Type will not be any more or less favorable to you than the guaranteed limits to which we are subject. See SELECTING YOUR INVESTMENT OPTIONS – GUARANTEED LIMITS ON THE RATES WE DECLARE.

GROWTH OPPORTUNITY TYPE RISK

When you invest in an Index Account Option, the upside potential of your investment is generally limited by that Index Account Option’s Growth Opportunity Type. The Growth Opportunity Type may limit the upside potential of your investment by limiting your participation in positive Index performance, in which case the Index Credit Rate used to calculate gains will be lower than the Index Change. No Growth Opportunity Type guarantees that your Policy will increase in value.

In general, depending on declared rates, an Index Account Option with relatively more upside potential based on its Growth Opportunity Type is likely to have relatively less downside protection based on its Downside Protection Type. Conversely, depending on declared rates, an Index Account Option with relatively less upside potential based on its Growth Opportunity Type is likely to have more downside protection based on its Downside Protection Type.

We set the rates for Growth Opportunity Types in our discretion. You bear the risk that the rates we declare for any Growth Opportunity Type will not be any more or less favorable to you than the guaranteed limits to which we are subject. See SELECTING YOUR INVESTMENT OPTIONS – GUARANTEED LIMITS ON THE RATES WE DECLARE.

RISK OF LOSS RELATED TO FEES AND CHARGES

There is a risk of loss of principal and earnings as a result of the fees and charges under the Policy, including surrender charges, other transaction charges, and periodic charges. The deduction of fees and charges, and negative adjustments to your Policy from the deduction of fees and charges, may result in you realizing losses even when the Index Account Option(s) that you selected have performed positively. Even if you invest in an Index Account Option with the Floor Downside Protection Type and a Floor Rate of 100%, fees and charges under the Policy could cause you to realize losses.

INTERIM VALUE RISK

On each Business Day between the first and last day of a Crediting Period for an Index Account Option, the value of your investment in that Index Account Option is represented by the Interim Value. The Interim Value on a given Business Day determines the amount available from that Index Account Option for withdrawals, Surrender, annuitization, and the death benefit and to pay fees and charges. Gains and losses for Interim Values are not directly tied to the performance of the Index for the Index Account Option. In general, we calculate gains and losses by using a formula that looks to the values of certain derivative and fixed income instruments, which is designed to produce an estimated fair value for your investment in the Index Account Option on that Business Day. The Interim Value for an Index Account Option may change each Business Day, and the change may be positive or negative compared to the last Business Day (even when the Index has increased in value).

Interim Values for an Index Account Option generally reflect less upside potential and less downside protection than would otherwise apply at the end of the Crediting Period. As such, when a transaction is processed based on an Interim Value, the Interim Value could reflect less gain or more loss (perhaps significantly less gain or more loss) than would be applied at the end of the Crediting Period. This means that there could be significantly less money available under your Policy for fees and charges, withdrawals, a Surrender, annuitization, and the death benefit. See APPENDIX A: INTERIM VALUE CALCULATIONS AND EXAMPLES for additional information.

INDEX BASE ADJUSTMENT RISK

If you withdraw Policy Value allocated to an Index Account Option prior to the end of its Crediting Period (including an automatic withdrawal), or if a fee or charge is deducted from Policy Value allocated to an Index Account Option prior to the end of its Crediting Period (including a periodic charge), there will be a negative adjustment to your Index Base for that Index Account Option. Your Index Base will be immediately reduced in a proportion equal to the reduction in the Interim Value for that Index Account Option on that Business Day. This proportional reduction could be larger than the dollar amount of your withdrawal or the fee or charge deducted. Reductions to your Index Base will negatively impact your Interim Values for the remainder of the Crediting Period and may result in less gain or contribute to losses at the end of the Crediting Period.

Once your Index Base for an Index Account Option has been negatively adjusted, there is no way to increase your Index Base for the remainder of the Crediting Period. See VALUING YOUR INVESTMENT IN AN INDEX ACCOUNT OPTION and APPENDIX B: ADDITIONAL EXAMPLES FOR INDEX ACCOUNT OPTIONS for additional information.

ALLOCATION ACCOUNT AVAILABILITY RISK

We reserve the right to offer new Allocation Accounts or stop offering any Allocation Account at any time, including any Index Account Option and the Fixed Account. We also reserve the right to declare different rates from Crediting Period to Crediting Period for the Allocation Accounts that we are offering for investment, subject to the guaranteed limits to which we are subject. There is no guarantee that any Allocation Account that you select for investment will always be available to you in the future or available with the same declared rates. Our only guarantee regarding the availability of Allocation Accounts is that we will offer at least one Basic Index Account Option for investment.

If we stop making an Allocation Account available, it will be closed such that no new premiums, reallocations, or transfers will be allowed into that Allocation Account. If you are currently invested in an Allocation Account and it is discontinued, you may remain in that Allocation Account until the end of the Crediting Period.

If you are not comfortable with the risk that we may not offer Allocation Accounts in the future that are attractive to you based on your personal preferences, risk tolerances, or time horizon, this Policy may not be appropriate for you. You may Surrender your Policy if there are no Allocations Accounts that you wish to select, but the Surrender may be subject to surrender charges, will be based on an Interim Value if taken before the end of a Crediting Period, and your Policy will terminate.

CREDIT ADVANTAGE RISK

We may offer Basic Index Account Options for an additional fee that include Credit Advantage Growth Opportunity Types, which have increased upside potential compared to a Basic Index Account Option that does not have the Credit Advantage feature but is otherwise identical. There is no guarantee that the increased upside potential of a Credit Advantage Growth Opportunity Type will result in gains at least equal to the additional fee or any gains at all. The additional fee could increase your losses or decrease your gains.

ENHANCED INDEX ACCOUNT OPTION RESET FEATURE RISK

Any Best Entry or Buffer Auto Reset Enhanced Index Account Option that we offer includes a reset feature that may help increase gains or decrease losses. However, the reset features do not guarantee that you will realize gains or avoid losses, and there is no guarantee that a reset feature will ultimately have any impact on your gains or losses.

DEFAULT OPTION RISK

Under certain circumstances, your premium payment or Policy Value will be automatically allocated to a default Allocation Account that we refer to as the Default Option. Currently, the Default Option is the Fixed Account with a 1-year Crediting Period, with the annual interest rate that we have declared for a new Crediting Period, although we reserve the right to change the Default Option in the future. To help avoid automatic allocations to the Default Option, you should always provide us with allocation instructions in good order whenever you have an opportunity to select your investment options. You must provide us with allocation instructions in good order at least one Business Day before the end of any Crediting Period.

Once a premium payment or Policy Value has been allocated to the Default Option, your investment in the Default Option is generally subject to the same terms and conditions as any other investment in an Allocation Account under the Policy. For example, you may not transfer Policy Value invested in the Default Option until the end of the Crediting Period. You may withdraw amounts invested in the Default Option at any time; however, you will be subject to the risks associated with a withdrawal or Surrender.

INTEREST RATE RISK

We declare interest rates for the Fixed Holding Account and the Fixed Account in our discretion. There is no guarantee that we will declare any annual interest rate that is higher than the guaranteed minimum effective annual interest rate. See SELECTING YOUR INVESTMENT OPTIONS – GUARANTEED LIMITS ON THE VALUES WE DECLARE.

PREMIUM PAYMENT RISK

Your ability to make additional premium payments is subject to limitations, including annual and lifetime limitations on total premium payments. We reserve the right to limit or refuse additional premium payments and to prohibit Owners from making additional premium payments under the Policy in the future on a non-discriminatory basis. You bear the risk that you may not always be permitted to make additional premium payments.

INDEX SUBSTITUTION RISK

During a Crediting Period, if a market index serving as an Index is discontinued or if the calculation of the index is substantially changed by the index provider, or if an ETF that is serving as an Index is liquidated or otherwise no longer exists or if its investment objectives, strategies, or risks substantially change, we may substitute the Index with a new Index, once we obtain all necessary regulatory approvals. We will notify you of any such substitution in writing. We will seek to notify you at least 30 days prior to substituting an Index for any Index Account Option in which you are invested. However, in the event that it is necessary to substitute on less than 30 days’ notice due to circumstances outside of our control, we will provide notice of the substitution as soon as practicable. If we substitute an Index, we will select a new Index that we determine in our judgment is comparable to the old Index. We may look at factors that include, but are not limited to, asset class, index composition, strategy, and index liquidity.

You will have no right to reject the substitution of an Index. The performance of the new Index may differ significantly from the performance of the old Index. If we substitute the Index for an Index Account Option in which you are invested, your investment in the Policy is subject to the same terms and conditions as any other investment in an Allocation Account under the Policy. For example, you will not be permitted to transfer Policy Value prior to the end of a Crediting Period if a substitution occurs.

RISK OF LOSS DURING CANCELLATION PERIOD

You may return your Policy for a refund, but only if you return it within the prescribed period as described in this prospectus. Unless otherwise required by law, when you cancel the Policy, we will refund the Policy Value on the date of cancellation (plus any fees or charges deducted under the Policy on the date of the cancellation). If you are entitled to a refund equal to the Policy Value, you bear the risk of any decline in your Policy Value during the right to cancel period.

INVOLUNTARY TERMINATION RISK

If your Policy Value is below $2,000, and there have been no premium payments made to the Policy within the last two Policy Years, we reserve the right to terminate the Policy and pay the greater of your Policy Value or the Minimum Required Cash Value.

FINANCIAL STRENGTH AND CLAIMS-PAYING ABILITY

An investment in the Policy is subject to the risks related to us, Transamerica Life Insurance Company. Any obligations (including under Fixed Account and the Fixed Holding Account), guarantees, and benefits under the Policy are subject to our claims-paying ability. If we experience financial distress, we may be permitted by law to delay payments to you for up to six months, and we ultimately may not be able to meet our obligations to you. More information about Transamerica Life Insurance Company, including our financial strength ratings, is available by visiting www.transamerica.com or calling toll-free (800) 525-6205. We encourage you to read the information about Transamerica Life Insurance Company, including our financial statements, included in APPENDIX E – TRANSAMERICA LIFE INSURANCE COMPANY AND FINANCIAL STATEMENTS.

CYBER SECURITY AND BUSINESS CONTINUITY RISKS

Our operations support complex transactions and are highly dependent on the proper functioning of information technology and communication systems. Any failure of or gap in the systems and processes necessary to support complex transactions and avoid systems failure, fraud, information security failures, processing errors, cyber intrusion, loss of data, and breaches of regulation may lead to a materially adverse effect on our administration of the Policy. We cannot assure you that interruptions, failures, or breaches in security of these processes and systems will not occur, or if they do occur, that they can be timely detected and remediated. Also, our business operations may be adversely affected by volatile natural and man-made disasters, including (but not limited to) hurricanes, earthquakes, terrorism, civil unrest, military action, fires and explosions, pandemic diseases, and other catastrophes. Such events may impact the availability and capacity of our key personnel and may have a materially adverse effect on our administration of the Policy.

GLOSSARY

Accelerated Tiered Participation – A Growth Opportunity Type that may be offered as part of an Index Account Option.

Account – An Index Account, the Fixed Account, or the Fixed Holding Account.

Administrative Office – Transamerica Life Insurance Company, Attention: Customer Care Group, 4333 Edgewood Road NE, Cedar Rapids, IA 52499, (800) 525-6205.

Allocation Account – An Index Account Option available for investment, or the Fixed Account if available for investment.

Allocation Options document – A document containing the list of Allocation Account(s) that are available for investment in connection with an initial or additional premium payment, including complete information about the rates we have declared for such Allocation Account(s).

Annuitant – The person on whose life any annuity payments involving life contingencies will be based.

Annuity Commencement Date – The date upon which annuity payments are to commence.

Beneficiary (beneficiary) – A person designated to receive the death benefit.

Best Entry Reset Threshold – For a Best Entry Enhanced Index Account Option, the net percentage decrease in the Index Value necessary to reset the Initial Index Value during the Observation Period, comparing the Index Value at the beginning of the Crediting Period to an Index Value on an Observation Day.

Bond Reference Portfolio Yield – A reference portfolio yield rate which is the sum of a treasury rate and an option adjusted spread from a widely utilized bond index.

Buffer – A Downside Protection Type that may be offered as part of an Index Account Option.

Buffer and Floor – A Downside Protection Type that may be offered as part of an Index Account Option.

Buffer Rate – A percentage used to calculate the Index Credit Rate for an Index Account Option with Buffer, or Buffer and Floor, as its Downside Protection Type.

Buffer Reference Level – For a Buffer Auto Reset Enhanced Index Account Option, the value to which the Buffer is tied when calculating the Index Credit Rate.

Buffer Reset Day – For a Buffer Auto Reset Enhanced Index Account Option, a day on which we observe the Index Value to determine whether to reset the Buffer Reference Level.

Buffer Reset Period – For a Buffer Auto Reset Enhanced Index Account Option, the frequency of Buffer Reset Days.

Buffer Reset Trigger – For a Buffer Auto Reset Enhanced Index Account Option, the net percentage increase in the Index Value that triggers a reset to the Buffer Reference Level, comparing to the current Buffer Reference Level to the Index Value on a Buffer Reset Day.

Business Day – Any day when the New York Stock Exchange is open for regular trading.

Cap – A Growth Opportunity Type that may be offered as part of an Index Account Option.

Cap Rate – A percentage used to calculate the Index Credit Rate for an Index Account Option with Cap, Cap+ Accelerator, or Credit Advantage Cap as its Growth Opportunity Type.

Cap+ Accelerator – A Growth Opportunity Type that may be offered as part of an Index Account Option.

Cap+ Accelerator Rate – A percentage used to calculate the Index Credit Rate for an Index Account Option with Cap+ Accelerator as its Growth Opportunity Type.

Company (we, us, our) – Transamerica Life Insurance Company.

Credit Advantage Cap – A Growth Opportunity Type that may be offered as part of an Index Account Option for an additional fee.

Credit Advantage Fee – The additional fee charged when you invest in an Index Account Option with a Credit Advantage Growth Opportunity Type.

Credit Advantage Growth Opportunity Type – Credit Advantage Cap, Credit Advantage Participation, or Credit Advantage Value Trigger+.

Credit Advantage Participation – A Growth Opportunity Type that may be offered as part of an Index Account Option for an additional fee.

Credit Advantage Value Trigger+ – A Growth Opportunity Type that may be offered as part of an Index Account Option for an additional fee.

Crediting Period – The duration of an Allocation Account’s investment term, expressed in years. The Crediting Period is also the period of time during which the performance of an Index Account Option is linked to the performance of an Index.

Downside Protection Participation Rate – A percentage used to calculate the Index Credit Rate for an Index Account Option with Participation as its Downside Protection Type.

Downside Protection Type – A feature of an Index Account Option that provides limited protection from negative Index performance. The Floor Downside Protection Type provides complete protection from negative Index performance only when it has a Floor Rate of 100%.

Feature Sheet Prospectus Supplements – Supplements to this prospectus that we issue from time to time to disclose certain information about Allocation Accounts that are available for investment and certain other information.

Final Index Value – The Index Value for the final day of a Crediting Period.

Fixed Account – The fixed interest investment option under the Policy.

Fixed Holding Account – The interest-bearing account generally in which premium payments are held until allocated to an Allocation Account.

Floor – A Downside Protection Type that may be offered as part of an Index Account Option.

Floor Rate – A percentage used to calculate the Index Credit Rate for an Index Account Option with Floor, or Buffer and Floor, as its Downside Protection Type.

Good Order (good order) – The receipt by the Company, at our Administrative Office, of all information, documentation, instructions, and/or premium payment deemed necessary by the Company to issue the Policy or execute any transaction pursuant to the terms of the Policy.

Growth Opportunity Participation Rate – A percentage used to calculate the Index Credit Rate for an Index Account Option with Participation or Credit Advantage Participation as its Growth Opportunity Type.

Growth Opportunity Type – A feature of an Index Account Option that determines how and the extent to which an Index Account Option will participate in positive Index performance.

Index – The market index or exchange-traded fund to which an Index Account Option may be linked.

Index Account / Index Account Option – An index-linked investment option under the Policy.

Index Account Option Value – The value of your investment in an Index Account Option at the end of a Crediting Period.

Index Base – The portion of the Policy Value allocated to an Index Account Option, less the sum of any adjustments for withdrawals or fees and charges deducted from the Index Account Option since inception of a Crediting Period.

Index Change – The net percentage change in the Index Value between the first day of a Crediting Period and the last day of the Crediting Period.

Index Credit – A dollar amount of gain or loss reflected in your Index Account Option Value at the end of a Crediting Period. Index Credit may be positive, negative, or equal to zero.

Index Credit Rate – A percentage gain or loss used to calculate your Interim Value during the Crediting Period and your Index Account Option Value at the end of a Crediting Period. The Index Credit Rate may be positive, negative, or equal to zero.

Index Value – The value of an Index at the end of a day. When the Index is a market index, the Index Value at the end of a day is the closing value of the Index for that day. When the Index is an exchange-traded fund, the Index Value at the end of a day is the closing share price of the fund for that day on the fund’s primary stock exchange. The Index Value on any day that is not a Business Day is the value of the Index at the end of the next Business Day. The Company relies on the Index Values reported by a third party.

Initial Index Value – The Index Value on the first day of a Crediting Period. The Initial Index Value may be reset to a lower Index Value under a Best Entry Enhanced Index Account Option.

Interim Value – The value of an Index Account Option on any Business Day during the Crediting Period, except the first and last day of the Crediting Period, used to determine the amount available in the Index Account for withdrawals, Surrender, annuitization, and the death benefit and to pay fees. The Interim Value is calculated at the end of a Business Day.

Minimum Required Cash Value – The minimum benefits under the Policy required by applicable state law.

Observation Day – For a Best Entry Enhanced Index Account Option, a day on which we observe the Index Value during the Observation Period to determine whether to reset the Initial Index Value.

Observation Frequency – For a Best Entry Enhanced Index Account Option, the frequency of Observation Days during the Observation Period.

Observation Period – For a Best Entry Enhanced Index Account Option, the time period (expressed in days) during which the Initial Index Value may be reset.

Option Value – The value of a hypothetical portfolio of options used to estimate the value of your Index Credit prior to the end of the Crediting Period. The replicating portfolio of options are designated by us for each Index Account Option and are used to estimate the fair value of the risk of loss and the possibility of gain at the end of a Crediting Period, expressed in percentage terms.

Owner (you, your) – The person who may exercise all rights and privileges under the Policy, including the Owner and any joint Owner.

Participation – A Growth Opportunity Type and/or Downside Protection Type that may be offered as part of an Index Account Option.

Payee – The person to whom annuity payments will be made.

Policy – The Transamerica Structured Index Advantage^SM Annuity.

Policy Anniversary – The anniversary of the Policy Date for each year the Policy remains in force. If a certain date does not exist in a given month, the first day of the following month will be used.

Policy Date – The date on which the Policy becomes effective.

Policy Quarter – Each three month period beginning on the Policy Date.

Policy Value – The amount that represents the value of your investment in the Accounts.

Policy Year – The 12-month period following the Policy Date. The first Policy Year starts on the Policy Date. Each subsequent Policy Year starts on the Policy Anniversary.

Premium Payment (premium payment) – An amount paid to us by or on behalf of an Owner, as consideration for the benefits provided under the Policy.

Rate Sheet Prospectus Supplement – A supplement to this prospectus that we issue from time to time to disclose the current fee percentages for the Guaranteed Minimum Death Benefit rider.

Renewal Letter – A document containing the list of Allocation Account(s) that are available for investment at the end of a Crediting Period, including complete information about the rates we have declared for such Allocation Account(s).

Surrender – A full withdrawal of cash value and termination of the Policy.

Tier Level – For an Index Account Option with Accelerated Tiered Participation as its Growth Opportunity Type, a range of potential Index Changes to which a Tier Participation Rate would apply.

Tier Participation Rate – A percentage used to calculate the Index Credit Rate for an Index Account Option with Accelerated Tiered Participation as its Growth Opportunity Type.

Value Trigger – A Growth Opportunity Type that may be offered as part of an Index Account Option.

Value Trigger Rate – A percentage used to calculate the Index Credit Rate for an Index Account Option with Value Trigger as its Growth Opportunity Type.

Value Trigger+ – A Growth Opportunity Type that may be offered as part of an Index Account Option.

Value Trigger+ Participation Rate – A percentage used to calculate the Index Credit Rate for an Index Account Option with Value Trigger+ or Credit Advantage Value Trigger+ as its Growth Opportunity Type.

Value Trigger+ Rate – A percentage used to calculate the Index Credit Rate for an Index Account Option with Value Trigger+ or Credit Advantage Value Trigger+ as its Growth Opportunity Type.

Withdrawal (withdrawal) – A withdrawal of cash value from the Policy that is less than a Surrender.

Written Notice – Written notice, signed by the Owner, that gives us the information we require and is received in good order at the Administrative Office. For some transactions, we may accept an electronic notice or telephone instructions. Such electronic notice must meet the requirements for good order that we establish for such notices.

THE ANNUITY

This prospectus describes information you should know before you purchase the Policy.

An annuity is a contract between you (the Owner) and an insurance company (in this case, us), where the insurance company promises to pay you an income in the form of annuity payments. These payments begin on a designated date, referred to as the Annuity Commencement Date. Until the Annuity Commencement Date, your annuity is in the accumulation phase and the earnings (if any) are generally tax deferred. Tax deferral means you are not taxed until you take money out of your annuity. Once your Policy is annuitized, your annuity switches to the income phase.

We currently sell Policies that are “qualified” or “non-qualified” under the Internal Revenue Code. You will get no additional tax advantage from this annuity if you are investing in this annuity through a tax-advantaged retirement plan (such as a 401(k) plan or Individual Retirement Account (“IRA”)). We currently sell Policies to the following plans: Traditional IRAs, Roth IRAs, SIMPLE IRAs, SEP-IRAs, 457(f) plans (in certain circumstances) and Section 401(a) plans (including profit sharing plans, defined benefit pension plans, defined contribution pension plans, 401(k) plans, and combination defined benefit/contribution plans). If you purchase the Policy as an individual retirement annuity or as part of a 403(b) plan, 457 plan, a pension plan, a profit sharing plan (including a 401(k) plan, or certain other employer sponsored programs), your Policy is a qualified Policy. If you purchase the Policy as part of any other arrangement, your Policy is a non-qualified Policy.

The Policy is a “deferred” annuity. You can use the Policy to accumulate funds for retirement or other long-term financial planning purposes. Your individual investment and your rights are determined primarily by your own Policy.

The Policy is a “flexible premium” annuity because after you purchase it, you can generally make additional premium payments until the Annuity Commencement Date. Each additional premium payment must be at least $50 unless a different minimum is stated in your Policy. You are not required to make any additional premium payments.

The Policy is “index-linked” because the value of each Index Account Option is linked to the performance of an Index. If you invest in one or more Index Account Options, the amount of money you are able to accumulate under your Policy depends (at least in part) upon the performance of your Index Account Options. You could lose a significant amount of money that you allocate to the Index Account Options.

We do not guarantee that the Fixed Account will always be available. If the Fixed Account is available and you invest amounts in the Fixed Account for a Crediting Period, your principal is guaranteed and will earn interest at a guaranteed annual interest rate during that Crediting Period. The amount of money you are able to accumulate depends upon the total interest credited.

Do not purchase this Policy if you plan to use it for resale, speculation, arbitrage, viatication, or any other type of collective investment scheme.

Your Policy is not intended or designed to be traded on any stock exchange or secondary market. By purchasing this Policy, you represent and warrant that you are not using the Policy for resale, speculation, arbitrage, viatication, or any other type of collective investment scheme.

PURCHASE

We will not issue a Policy unless:

You may return your Policy for a refund, but only if you return it within the prescribed period, which is generally 10 days after you receive the Policy (for replacements the right to cancel period is generally 30 days) but could vary by state. The refund will generally be the Policy Value on the date of cancellation (plus any fees or charges deducted under the Policy on the date of the cancellation), in which case you bear the risk of any decline in your Policy Value during the right to cancel period. State law may require us to refund the greater of your Policy Value or your premium payment(s). For IRAs, we will refund your premium payment(s) if cancelled within the first seven days. We will pay the refund after we receive in good order at our Administrative Office within the applicable period Written Notice of cancellation and the returned policy. The Policy will then be deemed void.

State variations may apply to your Policy. See OTHER INFORMATION – State Variations.

Additional fees may apply to optional benefits. Optional benefits may not be available for all Policies, in all states, at all times, or through all financial intermediaries.

We reserve the right to reject any application.

PREMIUM PAYMENTS

You should make checks for premium payments payable to Transamerica Life Insurance Company and send them to the Administrative Office. Your check must be honored in order for us to pay any associated annuity payments and benefits due under the Policy.

We do not accept cash. We reserve the right to not accept third party checks. A third party check is a check that is made payable to one person who endorses it and offers it as payment to a second person. Checks should normally be payable to us, however, in some circumstances, at our discretion, we may accept third party checks that are from a rollover or transfer from other financial institutions. Any third party checks not accepted by us will be returned.

We reserve the right to reject or accept any form of payment. Any unacceptable forms of payment will be returned.

We reserve the right to restrict or refuse any premium payment.

INITIAL PREMIUM PAYMENT

The initial premium payment for qualified and non-qualified Policies must be at least $25,000 (including anticipated premiums from exchanges, transfers, or rollovers as indicated on your application or electronic order form).

You must obtain our prior approval to purchase a Policy with an amount in excess of:

Your initial premium payment may not be credited to your Policy on the day that you leave your premium payment with your financial intermediary. Your financial intermediary may take a period of time to assess whether buying this Policy is suitable for you. Your financial intermediary may send us your initial premium payment while they complete this assessment. Your financial intermediary must also ensure that we have all the information needed for us to process your Policy. We will not begin to process your Policy during this period.

We will first begin our review only once we receive both your initial premium payment and your application (or an electronic order form). We will credit your initial premium payment to your Policy within two Business Days after the Business Day that we receive your initial premium payment, your application (or order form), and once we determine that your Policy information is both complete and in good order. This time period is in addition to the time your financial intermediary may take to complete their part of the process.

If your information is not received in good order and we are unable to complete our part of the process within thirty Business Days after the Business Day that we receive your initial premium payment and your application (or electronic order form), then we will return your initial premium payment at that time. We will credit your initial premium payment within two Business Days after your information is both complete and in good order.

Neither we nor your financial intermediary are responsible for lost investment opportunities while we each complete our review processes. Any initial premium payments received by us will be held in our general account until credited to your Policy. You will not earn interest on your initial premium payment during these review periods.

The date on which we credit your initial premium payment to your Policy is generally the Policy Date. The Policy Date is used to determine certain time periods under your Policy, such as Policy Years, Policy Quarters, and Policy Anniversaries.

ADDITIONAL PREMIUM PAYMENTS

You are not required to make any additional premium payments. However, you can generally make additional premium payments during the accumulation phase. Additional premium payments must be at least $50. We will credit an additional premium payment to your Policy within two Business Days after the Business Day we receive the premium payment and required information in good order at our Administrative Office.

When you allocate an additional premium payment to one or more Allocation Accounts, a new Crediting Period will begin for each Allocation Account receiving the premium payment. Any portion of an additional premium payment into an Allocation Account cannot be applied to an ongoing Crediting Period. Please note that if you invest in the same Allocation Account at different times, it is possible that you may have multiple ongoing Crediting Periods for the same Allocation Account.

After the first Policy Year, we reserve the right to require our prior approval for any cumulative premium payments in a single Policy Year in excess of the following limits:

We may approve premium payments over the maximum limit but restrict access to certain optional benefits. If you do not obtain prior approval for premium payments in excess of the dollar amounts listed above, any prohibited premium payment will be deemed not in good order.

We reserve the right to limit or refuse additional premium payments. We may prohibit Owners from making additional premium payments under the Policy in the future on a non-discriminatory basis.

MAXIMUM TOTAL PREMIUM PAYMENTS

We reserve the right to require our prior approval of any cumulative premium payments in excess of:

The maximum limit on total premium payments includes premium payments under the Policy and other policies with the same Owner or same Annuitant issued by us or an affiliate. We may approve premium payments over the maximum limit but restrict access to certain optional benefits. If you do not obtain prior approval for premium payments in excess of the dollar amounts listed above, any prohibited premium payment will be deemed not in good order.

ALLOCATION OF PREMIUM PAYMENTS

When you purchase the Policy, we will allocate your initial premium payment to the Allocation Account(s) you selected based on the allocation instructions in your application. The allocations in your allocation instructions must be in whole percentages and must total 100%.

In the event that your application is received in good order, but an Allocation Option that you selected for investment in your application is discontinued before your Policy is fully funded, we will issue the Policy and process your initial premium payment as follows:

For these purposes, we will consider an Allocation Account identified in your application instructions and an Allocation Account that is available for investment to be the “same” Allocation Account based on the criteria described below.

The allocation instructions in your application will initially serve as your standing allocation instructions for additional premium payments. You may change your standing allocation instructions for additional premium payments by sending written instructions to our Administrative Office, by telephone, or other electronic means acceptable to us, subject to the limitations described under OTHER INFORMATION – Telephone and Electronic Transactions. The allocation change will apply to premium payments received on or after the date we receive the change request in good order.

If you make an additional premium payment and it is accompanied by allocation instructions, we will allocate the premium payment to the Allocation Account(s) you selected based on those instructions. The allocation instructions accompanying your additional premium payment will not replace your standing allocation instructions unless you specifically instruct us otherwise.

If you make an additional premium payment and it is not accompanied by allocation instructions, we will process the additional premium payment as follows:

For purposes of this section, we will consider an Allocation Account identified in your instructions and an Allocation Account that is available for investment to be the “same” Allocation Account based on the following criteria:

FEES AND CHARGES

There are fees and charges associated with the Policy that may reduce the return on your investment.

SURRENDER CHARGES

During the accumulation phase, you can withdraw part (withdrawal) or all of (Surrender) your Policy’s cash value. Restrictions may apply to qualified Policies. When you take a withdrawal or Surrender, we may apply a surrender charge to compensate us for start-up expenses of the Policy relating to sales, including commissions to registered representatives and other promotional expenses.

Surrender charges, if any, apply to each premium payment, regardless of how Policy Value is allocated among the Allocation Accounts. The surrender charge decreases based on the number of years since the premium payment was made, as reflected in the table below.

Surrender Charge

(as a percentage of premium withdrawn or Surrendered)

You can withdraw up to 10% of your premium payments each Policy Year free of surrender charges. This amount is referred to as the “surrender charge-free amount” and is determined at the time of withdrawal or Surrender. This amount is not cumulative, so any surrender charge-free amount not used in one year does not increase the surrender charge-free amount in subsequent years. If the withdrawal or Surrender is in excess of the surrender charge-free amount, you might have to pay a surrender charge on the excess amount.

For example, assume your premium payments total $100,000 and your Policy Value is $106,000 at the beginning of the second Policy Year and you request a withdrawal of $30,000. Since that amount is more than your surrender charge-free amount ($10,000), you would pay a surrender charge of $1,600 on the remaining $20,000 (i.e., 8% x ($30,000 – $10,000) = $1,600). Likewise, assume your Policy Value is $80,000 (total premium payments total $100,000) at the beginning of the second Policy Year and you Surrender your Policy. You would pay a surrender charge of $7,200 (i.e., 8% x ($100,000 – ($100,000 x 10%)) = $7,200).

For surrender charge purposes, earnings are considered to be withdrawn first, then the oldest premium is considered to be withdrawn next. While there is no surrender charge on the withdrawal of earnings or premium payments that are no longer subject to surrender charges, such amounts count towards your surrender charge-free amount when withdrawn. This means that withdrawing such amounts will reduce (possibly to zero) your surrender charge-free amount for a Policy Year.

Keep in mind that withdrawals may be taxable and, if taken before age 59¹⁄₂, may be subject to a 10% federal penalty tax. For tax purposes, withdrawals from non-qualified Policies are considered to come from taxable earnings first

See ACCESS TO YOUR MONEY – SURRENDER CHARGE WAIVERS for information about the Policy’s surrender charge waivers. Please note that any amounts withdrawn pursuant to a surrender charge waiver will count against the surrender charge-free amount for a Policy Year.

We may elect to reduce or eliminate the amount of the surrender charge when the Policy is sold under circumstances which reduce our sales or other expenses, or when required by regulation or regulatory authority.

SERVICE CHARGE

We may deduct a service charge from your Policy on each Policy Anniversary prior to the Annuity Commencement Date. If we deduct this charge, it will not exceed 2% (as a percentage of your Policy Value, before the deduction of any fees or charges on that Policy Anniversary) or a maximum of $50, whichever is less, and we will waive the charge if your Policy Value, or if your total premium payments minus prior withdrawals, on the Policy Anniversary is at least equal to the minimum amount specified in your Policy.

This charge will be deducted from each Account in proportion to the portion of Policy Value in each Account, excluding the Fixed Holding Account until all other Accounts have been depleted of value. This charge will be deducted on a pro-rated basis if you Surrender the Policy.

GUARANTEED MINIMUM DEATH BENEFIT (GMDB) RIDER FEE

If you elect the optional GMDB rider, you may be subject to an additional fee. The fee (if any) depends on the Annuitant’s age on the date that you sign the application for the Policy (or, under limited circumstances, at the time your re-election request is received in good order). If your election of the GMDB rider would not subject your Policy to an additional fee and you are eligible to elect the rider, the GMDB rider will be automatically elected for you.

If you elect the GMDB rider and are subject to an additional fee, the fee percentage will not exceed 2.0% (as an annualized percentage of the guaranteed minimum death benefit). The fee percentage applicable to your rider will not change for the life of your rider. The additional fee will be calculated and deducted quarterly, on the same day of the month as the rider effective date. If that day does not exist for a given month, the first calendar day of the following month will be used. The quarterly fee is calculated by multiplying the guaranteed minimum death benefit by the GMDB rider fee percentage, and dividing that amount by four.

See DEATH BENEFIT – GUARANTEED MINIMUM DEATH BENEFIT (GMDB) RIDER for information about how the guaranteed minimum death benefit is calculated.

This fee will be deducted from each Account in proportion to the portion of Policy Value in each Account, excluding the Fixed Holding Account until all other Accounts have been depleted of value. This fee will be deducted on a pro-rated basis upon termination of the rider.

Rate Sheet Prospectus Supplement. The current GMDB rider fee percentages are disclosed in the current Rate Sheet Prospectus Supplement covering GMDB rider elections. We periodically issue new Rate Sheet Prospectus Supplements that may reflect different fee percentages. All Rate Sheet Prospectus Supplements are available on the SEC’s EDGAR system at www.sec.gov (Central Index Key (CIK) 0001164098). You may also visit www.transamerica.com or contact our Administrative Office for the Rate Sheet Prospectus Supplement applicable to you. Superseded fee percentages from prior Rate Sheet Prospectus Supplements can be found in an exhibit to the Policy’s current registration statement filed with SEC.

You should not purchase (or, in limited circumstances, re-elect) the GMDB rider without first obtaining the applicable Rate Sheet Prospectus Supplement.

CREDIT ADVANTAGE FEE

If you invest in an Index Account Option with a Credit Advantage Growth Opportunity Type, you will pay an additional fee for the increased upside potential associated with that Index Account Option. If you are invested in multiple Index Account Options with a Credit Advantage Growth Opportunity Type, you will pay the Credit Advantage Fee with respect to each of those Index Account Options. You will not pay a Credit Advantage Fee if you do not invest in an Index Account Option with a Credit Advantage Growth Opportunity Type.

The Credit Advantage Fee is calculated at the beginning of the Crediting Period. The fee will equal the dollar amount allocated to the Index Account Option on the first day of the Crediting Period, multiplied by the Credit Advantage Fee percentage. We will declare the Credit Advantage Fee percentage prior to the beginning of the Crediting Period. This percentage will not exceed 6.0%.

See SELECTING YOUR INVESTMENT OPTIONS for information about how to obtain the Credit Advantage Fee percentage for an Index Account Option with a Credit Advantage Growth Opportunity Type.

The Credit Advantage Fee is deducted as follows:

Remaining Credit Advantage Fee x (amount withdrawn / Interim Value)

The remaining Credit Advantage Fee at any time equals the Credit Advantage Fee calculated at the beginning of the Crediting Period minus the cumulative portion of the Credit Advantage Fee assessed at the time of any prior withdrawals during the Crediting Period. Please note that the remaining Credit Advantage Fee and Interim Value used in the calculation above are those values immediately prior to the withdrawal.

In no event will the Credit Advantage Fee paid for an Index Account Option exceed the Credit Advantage Fee calculated at the beginning of the Crediting Period.

If a death benefit becomes payable, the remaining Credit Advantage Fee, less the accrued Credit Advantage Fee, will be waived as of the date we receive due proof of death from any beneficiary.

PREMIUM TAXES

A deduction is also made for premium taxes, if any, imposed on us by a state, municipality, or other government agency. We will, at our discretion, deduct the tax, currently ranging from 0% to 3.5%, from the Policy Value when you begin receiving annuity payments, you Surrender the Policy, or death proceeds are paid. We may decide to deduct the tax at the time that you make a premium payment or when due to the applicable taxing authority.

FEDERAL, STATE, AND LOCAL TAXES

We may in the future deduct charges from the Policy for any taxes we incur because of the Policy. However, no deductions are being made at the present time.

SPECIAL SERVICE FEES

We currently deduct a charge for overnight delivery and duplicate policies. We reserve the right to deduct a charge for special services in the future, including non-sufficient checks on new business; duplicate Form 1099 and Form 5498 tax forms; check copies; printing and mailing previously submitted forms; and asset verification requests from mortgage companies. We may charge a fee for each service performed and fees may vary based on the type of service but will not exceed $50.

REDUCED FEES AND CHARGES

We may, at our discretion, reduce or eliminate certain fees and charges for certain Policies (including employer-sponsored savings plans), which may result in decreased costs and expenses.

POLICY VALUE AND CASH VALUE

POLICY VALUE

Prior to the Annuity Commencement Date, your Policy Value represents the value of your investment in your Accounts, which may include the Fixed Holding Account, the Fixed Account, and one or more Index Accounts.

On any day during the accumulation phase, your total Policy Value is equal to:

After the Annuity Commencement Date, your Policy does not have a Policy Value.

CASH VALUE

Prior to the Annuity Commencement Date, your cash value represents the total amount that is available for withdrawal or Surrender. Your cash value is equal to the Policy Value less any surrender charges, if applicable. Your cash value may be lower than or equal to your Policy Value.

After the Annuity Commencement Date, your Policy does not have a cash value.

TYPES OF ACCOUNTS

FIXED HOLDING ACCOUNT

Before an initial or additional premium payment is allocated to one or more Allocation Accounts, it will be held in the Fixed Holding Account until the next upcoming 1st, 8th, 15th, or 22nd calendar day of any month, whichever occurs first. On such day, the premium payment (plus any accrued interest) will be allocated to the appropriate Allocation Account(s) and the Crediting Period(s) will begin on that day.

If a premium payment is received on the 1st, 8th, 15th, or 22nd calendar day, it will be allocated on the next 1st, 8th, 15th, or 22nd calendar day of any month, whichever occurs first.

Amounts held in the Fixed Holding Account are credited compound interest daily based on the fixed annual interest rate in effect at that time.

We may change the current annual interest rate for the Fixed Holding Account at any time at our discretion, subject to the guaranteed minimum effective annual interest rate. You bear the risk that we will not credit interest at a rate greater than the guaranteed minimum effective annual interest rate.

See SELECTING YOUR INVESTMENT OPTIONS for information about how to obtain the current annual interest rate for the Fixed Holding Account.

When you submit an additional premium payment, if the premium payment is not accompanied by allocation instructions and your standing allocation instructions are not in good order, your premium payment may be held in the Fixed Holding Account for a longer period of time than described above. See PREMIUM PAYMENTS – ALLOCATION OF PREMIUM PAYMENTS for additional information.

THE FIXED ACCOUNT

If we offer the Fixed Account and you select it for investment, we guarantee your principal and a fixed annual interest rate for the length of the applicable Crediting Period. We will credit compound interest daily throughout the Crediting Period based on the annual interest rate we declared for that Crediting Period. We may offer Crediting Periods for the Fixed Account ranging from 1 to 6 years in length.

We currently offer the Fixed Account with a 1-year Crediting Period and we may choose to offer longer Crediting Periods for the Fixed Account from time to time. We will continue to offer the Fixed Account with a 1-year Crediting Period for at least as long as that Allocation Account is designated by us as the Default Option. We will declare the annual interest rate for a Crediting Period prior to the beginning of the Crediting Period. We guarantee that the annual interest rate declared for a Crediting Period will not change. However, the annual interest rates we declare may differ from Crediting Period-to-Crediting Period and may differ based on the lengths of the Crediting Periods offered.

For example, assume you have Policy Value invested in the Fixed Account for an ongoing 1-year Crediting Period. If the Fixed Account is still available for investment and you invest additional amounts in the Fixed Account for a 1-year Crediting Period, you will have two separate ongoing 1-year Crediting Periods for the Fixed Account, and the interest rates for those Crediting Periods may differ.

We determine annual interest rates for the Fixed Account at our discretion, subject to the guaranteed minimum effective annual interest rate. You bear the risk that we will not credit interest at a rate greater than the guaranteed minimum effective annual interest rate.

See SELECTING YOUR INVESTMENT OPTIONS for information about how to obtain the Crediting Period(s) and current annual interest rate(s) that we are offering for the Fixed Account.

We do not guarantee that the Fixed Account will always be available for investment. We reserve the right to refuse any premium payments to be allocated to, or transferred into, the Fixed Account.

INDEX ACCOUNTS

When you invest in an Index Account Option, your investment begins on the first day of the Crediting Period and generally ends on the last day of the Crediting Period. There are certain events that could end your investment before the last day of the Crediting Period, such as if you take a full withdrawal from that Index Account Option, Surrender the Policy, or annuitize the Policy, or if the death benefit becomes payable before the end of the Crediting Period.

At the end of the Crediting Period, we apply gain or loss to your Policy based on how the Index Account Option performed. The Index Account Option’s performance is linked to the performance of an Index, which will either be a market index or an exchange-traded fund. See THE INDEXES. The Index’s performance is generally measured by calculating the Index Change, which is the percentage difference between the Initial Index Value and the Final Index Value.

For example, regardless of how the Index otherwise performed between the beginning and end of the Crediting Period:

As a general matter (excluding the impact of fees and charges):

See ADDITIONAL INFORMATION ABOUT BASIC INDEX ACCOUNT OPTIONS and ADDITIONAL INFORMATION ABOUT ENHANCED INDEX ACCOUNT OPTIONS for detailed information about how gains and losses are calculated for the different types of Index Account Options at the end of a Crediting Period.

Please note that we do calculate the value of your investment in an Index Account Option each Business Day between the first and last day of the Crediting Period. However, we calculate these “Interim Values” differently than how we calculate gains or losses at the end of a Crediting Period. See VALUES ASSOCIATED WITH AN INDEX ACCOUNT OPTION – INTERIM VALUES, APPENDIX A: INTERIM VALUE CALCULATIONS AND EXAMPLES, and APPENDIX B: ADDITIONAL EXAMPLES FOR INDEX ACCOUNT OPTIONS for additional information.

THE INDEXES

Each Index Account Option is linked to the performance of an Index. Each Index is either a market index or an exchange-traded fund (“ETF”).

When the Index is a market index, the Index Value at the end of a day is the closing value of the Index for that day. When the Index is an ETF, the Index Value at the end of a day is the closing share price for that day on the ETF’s primary stock exchange. The Index Value on any day that is not a Business Day is the value of the Index at the end of the next Business Day. We rely on the Index Values reported to us by a third-party when administering the Policy.

MARKET INDEXES

The Indexes described in this section are market indexes. If you invest in an Index Account Option that is linked to a market index, you will be indirectly exposed to the investment risks associated with the securities or other assets that make up that market index. Such risks may adversely affect the value of the index components and, in turn, the performance of the index.

Each market index described in this section is subject to the following risks (in addition to other risks identified below):

S&P 500^® Index

The S&P 500^® Index (Ticker: SPX) is widely regarded as the best single gauge of large-cap U.S. equities. This market index includes 500 leading companies and captures approximately 80% coverage of available market capitalization. The S&P 500^® Index is calculated without adjustments for dividends.

In addition to the risks identified above that apply to each of the market indexes that may serve as an Index, the S&P 500^® Index is associated with additional investment risks, such as the following:

S&P 500 Market Opportunity Allocator 1.0% Decrement Index

The S&P 500 Market Opportunity Allocator 1.0% Decrement Index offers dynamic exposure to the S&P 500 based on five equity market anomalies used as signals to adjust a base equity weight, less a fixed decrement of 1.0% per year. The five anomalies include Turn of the Month, Dont Fight the Fed, Option Expiry Week, Short-Term Mean Reversion, and Long-Term Trend. The exposure can range from 0% to 150%.

The S&P 500 Market Opportunity Allocator 1.0% Decrement Index is exclusively licensed to Transamerica for use with this Policy and other Transamerica financial products. Inquiries regarding this Index, including requests for daily Index Values, should be directed to our Administrative Office.

Fidelity World Factor Leaders Index^SM 0.5% AR

The Fidelity World Factor Leaders Index^SM 0.5% AR (Adjusted return) (the “Index”) is an equity index offering exposure to U.S. and Developed non-U.S. companies with attractive valuations, high quality profiles, positive momentum signals and lower volatility than the broader world market. The Index is a combination of 60% Fidelity US Multifactor Index and 40% Fidelity International Multifactor Index. The index rebalances daily to ensure these weights remain consistent. The daily performance of the Index is reduced by 0.5% annually. Without this adjustment to the return, the performance of the index over any one year period would be approximately 0.5% greater. The exact impact over any time period will depend on the index path over that period due to the nature of compounding. This reduces the performance of the index only. It is not a product fee deducted from your (Index Allocation) or (Interim Value)s.

Fidelity World Factor Leaders Index^SM 0.5% AR is exclusively licensed to Transamerica for use with this Policy and other Transamerica financial products. Inquiries regarding this Index, including requests for daily Index Values, should be directed to our Administrative Office.

EXCHANGE TRADED FUNDS (ETF)

The Indexes described in this section are ETFs. If you invest in an Index Account Option that is linked to an ETF, you will be indirectly exposed to the ETF’s investment risks. Such risks may adversely affect the ETF’s performance, including the market price for its shares which we use as Index Values. Index Values for an ETF do not include dividends declared by the ETF.

Each ETF described in this section is subject to the following risks (in addition to other risks identified below):

iShares^® Russell 2000 ETF

The iShares^® Russell 2000 ETF (NYSE Arca: IWM) seeks to track the investment results of the Russell 2000^® Index, an index composed of small-capitalization U.S. equities. The Russell 2000^® Index measures the performance of the small capitalization sector of the U.S. equity market, as defined by FTSE Russell.

In addition to the risks identified above that apply to each of the ETFs that may serve as an Index, this ETF is subject to additional investment risks, such as the following:

iShares^® U.S. Technology ETF

The iShares^® Russell 2000 ETF (NYSE Arca: IYW) seeks to track the investment results of the Dow Jones U.S. Technology Capped Index, which is composed large-, mid-, and small-capitalization U.S. companies. The Dow Jones U.S. Technology Capped Index is designed to measure the performance of U.S. companies in the technology sector.

In addition to the risks identified above that apply to each of the ETFs that may serve as an Index, this ETF is subject to additional investment risks, such as the following:

iShares^® MSCI Emerging Markets ETF

The iShares^® MSCI Emerging Markets ETF (NYSE Arca: EEM) seeks to track the investment results of the MSCI Emerging Markets Index, which is composed of large- and mid-capitalization emerging market equities. The MSCI Emerging Markets Index is designed to measure equity market performance in the global emerging markets.

In addition to the risks identified above that apply to each of the ETFs that may serve as an Index, this ETF is subject to additional investment risks, such as the following:

iShares^® MSCI USA ESG Select ETF

The iShares^® MSCI USA ESG Select ETF (NYSE Arca: SUSA) seeks to track the investment results of the MSCI USA Extended ESG Select Index, an index composed of U.S. companies that have positive environmental, social, and governance (“ESG”) characteristics as identified by the index provider. The index includes large- and mid-capitalization companies. The MSCI USA Extended ESG Select Index is designed to maximize exposure to favorable ESG characteristics, while exhibiting risk and return characteristics similar to the broader MSCI USA Index.

In addition to the risks identified above that apply to each of the ETFs that may serve as an Index, this ETF is subject to additional investment risks, such as the following:

INDEX SUBSTITUIONS

During a Crediting Period, if a market index serving as an Index is discontinued, or if the calculation of the index is substantially changed by the index provider, or if an ETF that is serving as an Index is liquidated or otherwise no longer exists, or if its investment objectives, strategies, or risks substantially change, we may substitute the Index with a new Index once we obtain all necessary regulatory approvals. We will notify you of any such substitution in writing. We will seek to notify you at least 30 days prior to substituting an Index for any Index Account Option in which you are invested. However, in the event that it is necessary to substitute on less than 30 days’ notice due to circumstances outside of our control, we will provide notice of the substitution as soon as practicable. If we substitute an Index, we will select a new Index that we determine in our judgment is comparable to the old Index. We may look at factors which include, but are not limited to, asset class, index composition, strategy, and index liquidity.

If we substitute an Index during a Crediting Period, we will calculate the Index Change using the original Index up until the substitution date. After the substitution date, we will calculate the Index Change using the replacement Index, but with a revised Initial Index Value for the replacement Index. The revised Initial Index Value for the replacement Index will reflect the Index Change for the original Index from the start of the Crediting Period to the substitution date. We will use a similar process if multiple substitutions occur during a Crediting Period. The substitution of an Index will have no impact on the Index Account Option’s Crediting Period, Growth Opportunity Type, Downside Protection Type, or any other features or declared rates for that Index Account Option other than the Index to which the Index Account Option is linked.

This example is intended to show how we would calculate the Index Change during a Crediting Period in which an Index was substituted.

Index Change on substitution date for original Index

This 5% Index Change on the substitution date is then used to calculate the revised Initial Index Value for the replacement Index.

Revised Initial Index Value for replacement Index

The Index Change calculation for that Crediting Period is then based on the change between the revised Initial Index Value for the replacement Index, and the Final Index Value for the replacement Index.

VALUING YOUR INVESTMENT IN AN INDEX ACCOUNT OPTION

Index Account Option Value

The value of your investment in an Index Account Option at the end of a Crediting Period is represented by your Index Account Option Value. Your Index Account Option Value is calculated using the following formula:

Index Account Option Value = Index Base x (1 + Index Credit Rate)

The Index Credit Rate and the Index Credit may be positive, negative, or zero.

When your Index Base is subject to a negative adjustment, your Index Base will be reduced by a proportion equal to the reduction in your Interim Value (discussed below), which will be reduced dollar-for-dollar by the amount deducted from the Index Account Option. There is no way to increase your Index Base during a Crediting Period, and therefore no way to reverse or offset the negative impact of a negative adjustment to your Index Base.

A negative adjustment to your Index Base could result in less gain (if any) or more loss at the end of a Crediting Period, perhaps significantly less gain or more loss, because the Index Credit Rate will be applied to a lower Index Base. All withdrawals taken, and fees and charges deducted (including fees and charges that are periodically deducted from your Policy), before the end of a Crediting Period will trigger a negative adjustment to your Index Base. A negative adjustment to your Index Base may be greater than the reduction in your Interim Value. See APPENDIX B: ADDITIONAL EXAMPLES FOR INDEX ACCOUNT OPTIONS for examples of how your Index Base could be negative adjusted as a result of a fee or withdrawal.

The following is an example of how we calculate your Index Account Option Value at the end of a Crediting Period: Assume you invest $10,000 in an Index Account Option. At the beginning of the Crediting Period, your Index Base is $10,000. At the end of the Crediting Period, your Index Base is still $10,000, assuming there were no deductions for fees or withdrawals before the end of the Crediting Period. At the end of the Crediting Period, we will apply the Index Credit Rate to your Index Base to calculate your Index Account Option Value.

Interim Values

Please note that we do calculate the value of your investment in an Index Account Option each Business Day between the first and last day of the Crediting Period (each, an “Interim Value”). The Interim Value on a given Business Day determines the amount available from that Index Account Option for withdrawals, Surrender, annuitization, and the death benefit and to pay fees and charges. The Interim Value is calculated at the end of a Business Day.

Similar to the end of a Crediting Period, we calculate Interim Values by applying a percentage gain or loss to your Index Base. However, we calculate the percentage gain or loss for each Interim Value differently than the percentage gain or loss at the end of the Crediting Period. Our process for calculating Interim Values is explained in detail in APPENDIX A: INTERIM VALUE CALCULATIONS AND EXAMPLES.

Gains and losses for Interim Values are not directly tied to the performance of the Index for the Index Account Option. In general, we calculate gains and losses by using a formula that looks to the values of certain derivative and fixed income instruments, which is designed to produce an estimated fair value for your investment in the Index Account Option on that Business Day. The estimated fair value is intended to reflect factors such as the likelihood, and magnitude of, a positive or negative Index Credit Rate at the end of the Crediting Period, the length of time remaining in the Crediting Period, and the risk of loss and the possibility of gain at the end of the Crediting Period.

The Interim Value for an Index Account Option may change each Business Day, and the change may be positive or negative compared to the last Business Day (even when the Index has increased in value). You should understand that the Interim Value for an Index Account Option on a Business Day will not impact the future performance of that Index Account Option for the remainder of the Crediting Period unless one of the following occurs on that Business Day:

In any of those circumstances—including the deduction of a periodic fee or charge—the transaction will be processed based on the Interim Value for that Index Account Option on that Business Day. Interim Values for an Index Account Option generally reflect less upside potential and less downside protection than would otherwise apply at the end of the Crediting Period. As such, when a transaction is processed based on an Interim Value, the Interim Value could reflect less gain or more loss (perhaps significantly less gain or more loss) than would be applied at the end of the Crediting Period. This means that there could be significantly less money available under your Policy for fees and charges, withdrawals, a Surrender, annuitization, and the death benefit.

TYPES OF INDEX ACCOUNT OPTIONS

There are two categories of Index Account Options: “Basic Index Account Options” and “Enhanced Index Account Options.”

We may also offer Basic Index Account Options for an additional fee that include “Credit Advantage” Growth Opportunity Types, which have increased upside potential compared to a Basic Index Account Option that does not have the Credit Advantage feature but is otherwise identical.

There is no guarantee that the increased upside potential of a Credit Advantage Growth Opportunity Type will result in gains at least equal to the additional fee or any gains at all. The additional fee could increase your losses or decrease your gains.

We reserve the right to offer new Basic Index Account Options and discontinue offering existing Basic Index Account Options. We do not guarantee that we will always offer a certain Basic Index Account Option for investment. You may not be able to invest in a Basic Index Account Option in the future, even if it was previously made available for investment. We guarantee that we will always offer at least one Basic Index Account Option. Otherwise, we do not guarantee that any Basic Index Account Option will be available for investment.

We reserve the right to offer new Enhanced Index Account Options and discontinue offering existing Enhanced Index Account Options. We do not guarantee that we will always offer an Enhanced Index Account Option for investment. You may not be able to invest in an Enhanced Index Account Option in the future, even if it was previously made available for investment.

The following two sections, ADDITIONAL INFORMATION ABOUT BASIC INDEX ACCOUNT OPTIONS and ADDITIONAL INFORMATION ABOUT ENHANCED INDEX ACCOUNT OPTIONS, provide additional information about these two categories of Index Account Options, including how gains and losses are calculated at the end of a Crediting Period.

ADDITIONAL INFORMATION ABOUT BASIC INDEX ACCOUNT OPTIONS

Each Basic Index Account Option that we offer for investment combines one Index, one Crediting Period, one Growth Opportunity Type, and one Downside Protection Type from those listed in the tables below. For example, we may offer as a Basic Index Account Option: S&P 500^® Index, 1-Year Crediting Period, Cap, and Buffer (with specific rates that we declare for the Cap and Buffer). We will typically offer a variety of Basic Index Account Options from which you may choose. However, you are not permitted to design your own Basic Index Account Options.

CALCULATING GAIN USING THE GROWTH OPPORTUNITY TYPE

At the end of the Crediting Period for a Basic Index Account Option, if the Index Change is positive or zero, we use the applicable Growth Opportunity Type to calculate your gain, if any. Each Basic Index Account Option has only one Growth Opportunity Type.

Cap

For a Basic Index Account Option with a Cap as its Growth Opportunity Type, if the Index Change at the end of the Crediting Period is positive, the value of your investment will increase. If the Index Change is zero, the value of your investment will neither increase nor decrease.

We calculate your Index Credit Rate using the Cap as follows:

Under this Growth Opportunity Type, you will not participate in any Index performance above the Cap Rate. The Cap Rate limits the upside potential of your investment.

The illustration below includes two examples of how we calculate the Index Credit Rate at the end of a Crediting Period using a Cap. Both examples assume a Cap Rate of 10%.

Credit Advantage Cap. When we offer a Basic Index Account Option that has a Cap as its Growth Opportunity Type, we may offer for an additional fee an identical Basic Index Account Option except with a Credit Advantage Cap as its Growth Opportunity Type. We calculate the Index Credit Rate using a Credit Advantage Cap the same way as a Cap, except that the Cap Rate for the Basic Index Account Option with the Credit Advantage Cap will be higher than the otherwise identical Basic Index Account Option with the Cap. The Credit Advantage Cap therefore provides more upside potential in exchange for the additional fee.

Cap+ Accelerator

For a Basic Index Account Option with Cap+ Accelerator as its Growth Opportunity Type, if the Index Change at the end of the Crediting Period is positive, the value of your investment will increase. If the Index Change is zero, the value of your investment will neither increase nor decrease.

We calculate your Index Credit Rate using Cap+ Accelerator as follows:

While Cap+ Accelerator potentially presents more upside potential compared to the Cap Growth Opportunity Type by allowing you to potentially participate in Index performance that exceeds the Cap Rate, this Growth Opportunity Type also limits the upside potential of your investment because you will not participate in any Index performance between the Cap Rate and the Cap+ Accelerator Rate.

The illustration below includes three examples of how we calculate the Index Credit Rate at the end of the Crediting Period using Cap+ Accelerator. Each example assumes a Cap Rate of 7% and a Cap+ Accelerator Rate of 10%.

Participation

For a Basic Index Account Option with Participation as its Growth Opportunity Type, if the Index Change at the end of the Crediting Period is positive, the value of your investment will increase. If the Index Change is zero, the value of your investment will neither increase nor decrease.

We calculate your Index Credit Rate by multiplying the Index Change by the Growth Opportunity Participation Rate.

If the Growth Opportunity Participation Rate is less than 100%, you will not fully participate in positive Index performance, limiting the upside potential of your investment. We may offer Growth Opportunity Participation Rates greater than 100%, which would have the effect of increasing your gains relative to the Index Change.

The illustration below includes three examples of how we calculate the Index Credit Rate at the end of the Crediting Period using Participation. Each example assumes an Index Change of +10% with different Growth Opportunity Participation Rates. The examples show, using the same Index Change, how differences in the Growth Opportunity Participation Rate can impact your Index Credit Rate.

Credit Advantage Participation. When we offer a Basic Index Account Option with Participation as its Growth Opportunity Type, we may offer for an additional fee an identical Basic Index Account Option except with Credit Advantage Participation as its Growth Opportunity Type. We calculate the Index Credit Rate using Credit Advantage Participation the same way as Participation, except that the Growth Opportunity Participation Rate for the Basic Index Account Option with Credit Advantage Participation will be higher than the Growth Opportunity Participation Rate for the otherwise identical Basic Index Account Option with Participation. Credit Advantage Participation therefore provides more upside potential in exchange for the additional fee.

Accelerated Tiered Participation

For a Basic Index Account Option with Accelerated Tiered Participation as its Growth Opportunity Type, if the Index Change at the end of the Crediting Period is positive, the value of your investment will increase. If the Index Change is zero, the value of your investment will neither increase nor decrease.

We calculate your Index Credit Rate using Accelerated Tiered Participation as follows:

If the Tier Participation Rate that we declare for any Tier Level is less than 100%, you may not fully participate in the positive Index performance, limiting the upside potential of your investment. We may offer Tier Participation Rates greater than 100%, which could have the effect of increasing your gains relative to the Index Change depending on the other Tier Participation Rates and the Index.

The illustration below includes three examples of how we calculate the Index Credit Rate at the end of the Crediting Period using Accelerated Tiered Participation. Each of these examples assumes the same Tier Levels and Tier Participation Rates, as shown in the hypothetical schedule below.

Hypothetical Accelerated Tiered Participation Schedule
Tier Level		Tier Participation Rate
Tier 1 - 0%		80%
Tier 2 - 20%		90%
Tier 3 - 30%		100%

Value Trigger

For a Basic Index Account Option with Value Trigger as its Growth Opportunity Type, if the Index Change at the end of the Crediting Period is positive or zero, the value of your investment will increase.

Your Index Credit Rate will equal the Value Trigger Rate.

While Value Trigger will result in an increase in the value of your investment so long as the Index Change at the end of the Crediting Period is positive or zero, you will not participate in any Index performance in excess of the Value Trigger Rate, which limits the upside potential of your investment.

The illustration below includes three examples of how we calculate the Index Credit Rate at the end of the Crediting Period using Value Trigger. Each example assumes a Value Trigger Rate of 5%. These examples show that so long as the Index Change at the end of the Crediting Period is positive or zero, your Index Credit Rate would be equal to the Value Trigger Rate of 5%.

Value Trigger+

For a Basic Index Account Option with Value Trigger+ as its Growth Opportunity Type, if the Index Change at the end of the Crediting Period is positive or zero, the value of your investment will increase.

Your Index Credit Rate will equal the greater of (a) the Value Trigger+ Rate or (b) the Index Change multiplied by the Value Trigger+ Participation Rate.

While Value Trigger+ potentially has increased upside potential compared to the Value Trigger Growth Opportunity Type because Value Trigger+ potentially allows you to participate in positive Index performance in excess of the Value Trigger+ Rate, this Growth Opportunity Type may also limit the upside potential of your investment. This is because you will not fully participate in any positive Index performance in excess of the Value Trigger+ Rate if the Value Trigger+ Participation Rate is less than 100%.

The illustration below includes four examples of how we calculate the Index Credit Rate at the end of the Crediting Period using Value Trigger+.

Credit Advantage Value Trigger+. When we offer a Basic Index Account Option with Value Trigger+ as its Growth Opportunity Type, we may offer for an additional fee an identical Basic Index Account Option except with Credit Advantage Value Trigger+ as its Growth Opportunity Type. We calculate the Index Credit Rate using Credit Advantage Value Trigger+ the same way as Value Trigger+, except that the Value Trigger+ Rate and/or Value Trigger+ Participation Rate for the Basic Index Account Option with Credit Advantage Value Trigger+ would be higher than the otherwise identical Basic Index Account Option with Value Trigger+. Credit Advantage Value Trigger+ therefore provides more upside potential in exchange for the additional fee.

CALCULATING LOSS USING THE DOWNSIDE PROTECTION TYPE

At the end of the Crediting Period for a Basic Index Account Option, if the Index Change is negative, we use the applicable Downside Protection Type to calculate your loss (if any). Each Basic Index Account Option has only one Downside Protection Type.

Buffer

For a Basic Index Account Option with a Buffer as its Downside Protection Type, if the Index Change at the end of the Crediting Period is negative, the value of your investment will decrease only to the extent that the Buffer does not protect you from loss.

We calculate your Index Credit Rate using the Buffer as follows:

The Buffer Rate represents the percentage of your investment that is protected from loss. For instance, assuming a Buffer Rate of 10%, it is possible that you could lose 90% of your investment as a result of negative Index performance. Unlike with a Floor, however, a Buffer absorbs the impact of negative Index performance before the negative Index performance impacts your Policy.

The Buffer’s downside protection is limited. You assume the risk of loss for negative Index performance in excess of the Buffer Rate. Your losses could be significant.

The illustration below includes three examples of how the Buffer applies when the Index Change is negative. Each example assumes a Buffer Rate of 10%.

Floor

For a Basic Index Account Option with a Floor as its Downside Protection Type, if the Index Change at the end of the Crediting Period is negative, the value of your investment will decrease, but it will not decrease beyond the downside protection provided by the Floor.

We calculate your Index Credit Rate using the Floor as follows:

The Floor Rate represents the percentage of your investment that is protected from loss. For instance, assuming a Floor Rate of 80%, it is possible that you could lose up to 20% of your investment as a result of negative Index performance, which means the Index Credit Rate could be as low as -20%. Unlike with a Buffer, however, your Policy is impacted by negative Index performance before any negative Index performance is absorbed by the Floor.

If the Floor Rate is 100%, the Floor provides complete protection from loss related to the negative Index performance. The Index Credit Rate cannot be lower than 0% when the Floor Rate equals 100%. For example, assuming a Floor Rate of 100% and an Index Change of -15%, your Index Credit Rate would be 0%.

When the Floor Rate is less than 100%, the Floor provides only limited downside protection. You assume the risk of loss for negative Index performance that does not exceed the Floor based on the Floor Rate. Your losses could be significant depending on the Floor Rate. A Floor Rate of 100% would provide complete protection against loss, but is likely to be part of an Index Account Option with significantly limited upside potential.

The illustration below includes three examples of how the Floor applies when the Index Change is negative. Each example assume a Floor Rate of 80%.

Buffer and Floor

The Buffer and Floor Downside Protection Type is a combination of the Buffer Downside Protection Type and the Floor Downside Protection Type. If the Index Change at the end of the Crediting Period is negative, the value of your investment may or may not decrease.

For a Basic Index Account with Buffer and Floor as its Downside Protection Type, if the Index Change at the end of the Crediting Period is negative, we will apply either the Buffer (based on the Buffer Rate) or the Floor (based on the Floor Rate) to calculate your loss (if any), whichever results in less loss (or no loss) for you.

Buffer and Floor does not provide complete downside protection. You may lose any amounts not protected by the Buffer or Floor, whichever ultimately applies. Your losses could be significant.

The illustration below includes four examples of how Buffer and Floor applies when the Index Change is negative. Each example assumes a Buffer Rate of 10% and a Floor Rate of 80%.

Participation

For a Basic Index Account Option with Participation as its Downside Protection Type, if the Index Change at the end of the Crediting Period is negative, the value of your investment will decrease, but you will participate in only a portion of the negative Index performance.

Your Index Credit Rate will equal the Index Change multiplied by the Downside Protection Participation Rate.

Participation as a Downside Protection Type does not provide complete downside protection. Participation as a Downside Protection Type provides only limited downside protection by limiting the extent to which you participate in negative Index performance. Your losses could be significant.

The illustration below includes three examples of how Participation applies when the Index Change is negative. Each example assumes a Downside Protection Participation Rate of 50%, meaning that you would participate in only 50% of all negative Index performance.

ADDITIONAL INFORMATION ABOUT ENHANCED INDEX ACCOUNT OPTIONS

Currently, we may offer two types of Enhanced Index Account Options. The first type is called “                    .” The second type is called “Buffer Auto Reset.” When available, you may invest in an Enhanced Index Account Option for no additional charge.

Best Entry

Each Best Entry Enhanced Index Account Option that we offer for investment combines one Index, one Crediting Period, the Cap as its Growth Opportunity Type, and the Buffer as its Downside Protection Type as reflected in the tables below. For example, we may offer a Best Entry option with S&P 500^® Index, 6-Year Crediting Period, Cap, and Buffer (with specific rates that we declare for the Cap and Buffer).

In addition to these components, Best Entry includes an Initial Index Value reset feature. This feature may help you increase gains or decrease losses because the Initial Index Value used to calculate the Index Change may be lower than the Index Value on the first day of the Crediting Period. As such, at the end of the Crediting Period, this feature may result in a higher Index Change (potentially increasing your gains or decreasing your losses).

At the end of the Crediting Period, we will calculate the Index Credit Rate the same way as a Basic Index Account Option with a Cap (if the Index Change is positive or zero) or Buffer (if the Index Change is negative). The only potential difference is that the Initial Index Value used to calculate the Index Change may not equal the Index Value from the first day of the Crediting Period. It may be lower.

In connection with the Initial Index Value reset feature, we declare an Observation Period, Observation Frequency, and Best Entry Reset Threshold. These values may differ between Best Entry options that are available for investment, and from Crediting Period to Crediting Period.

If the Observation Frequency is monthly or quarterly, Observation Days will correspond to the same calendar day on which the Crediting Period began. For example, if a Crediting Period begins on January 8 and the Observation Frequency is monthly, the first Observation Day would be February 8. Likewise, if the Observation Frequency were quarterly, the first Observation Day would be April 8.

How the Initial Index Value reset feature works:

While Best Entry may help you increase your gains or decrease your losses, it is subject to the same risks associated with the Cap Growth Opportunity Type and the Buffer Downside Protection Type.

To help you understand the Initial Index Value reset feature, consider the following example. Assume you select a Best Entry Enhanced Index Account Option for which we have declared the following values:

Now assume that the value of the Index on day 1 of the Crediting Period is 1000. Based on these assumptions, your Initial Index Value will either (a) remain at 1000 or (b) reset to the lowest Index Value observed during the Observation Period, provided that at least one observed Index Value is equal to or lower than 950 (i.e., 1000 – (1000 x 5%) = 950). Remember that if the Initial Index Value resets at least once, it will never reset to a higher Index Value.

The illustration below reflects how the Index hypothetically performed during this example’s Observation Period.

The following table describes how the Initial Index Value reset during the Observation Period.

Note that the lowest Index Value during the Observation Period was 925. The Initial Index Value was not reset to 925, however, because that Index Value did not occur on an Observation Day.

At the end of the Crediting Period in this example, the Index Change will be positive if the Final Index Value is greater than 930, zero if the Final Index Value is 930, or negative if the Final Index Value is lower than 930. Without the Initial Index Value reset feature in this example, the Index Change would have been positive if the Final Index Value were greater than 1000, zero if the Final Index Value were equal to 1000, or negative if the Final Index Value were lower than 1000.

To show how the Initial Index Value reset feature could help increase gains and decrease losses in this example, the following table reflects hypothetical Index Changes and Index Credit Rates based on an Initial Index Value of 1000 (reflecting no reset) versus an Initial Index Value of 930 (reflecting the reset), using assumed Final Index Values, the assumed Cap Rate (20%), and the assumed Buffer Rate (10%). You should note that depending on the Final Index Value, the Initial Index Value reset feature may or may not increase gains or decrease losses, even when a reset occurs.

Buffer Auto Reset

Each Buffer Auto Reset Enhanced Index Account Option that we offer for investment combines one Index, one Crediting Period, the Cap as its Growth Opportunity Type, and the Buffer as its Downside Protection Type, as reflected in the tables below. For example, we may offer a Buffer Auto Reset option with S&P 500^® Index, 6-Year Crediting Period, Cap, and Buffer (with specific rates that we declare for the Cap and Buffer).

In addition to these components, Buffer Auto Reset includes a Buffer reset feature. This feature utilizes the Buffer in a manner that is different than any other Index Account Option by not only providing limited protection from loss, but also potentially protecting gains.

For any other Index Account Option that has a Buffer as its Downside Protection Type, the Buffer applies only when the Index Change is negative. As a result, the Buffer for any such Index Account Option only provides downside protection. If the Index Change is positive, the Buffer for any such Index Account Option plays no role in calculating gain.

Under Buffer Auto Reset, the Buffer not only applies when the Index Change is negative, but may also apply when the Index Change is positive. By potentially applying the Buffer when the Index Change is positive, Buffer Auto Reset may protect potential gains from downward fluctuations in the performance of an Index during a Crediting Period.

Buffer Reset Days will correspond to the same calendar day on which the Crediting Period began. For example, if a Crediting Period begins on January 8 and the Buffer Reset Period is monthly, the first Observation Day would be February 8. Likewise, if the Buffer Reset Period is annually, the first Observation Day would be January 8 of the next calendar year.

The final day of the Crediting Period will not be a Buffer Reset Day.

How the Buffer reset feature works:

The maximum Buffer Reference Level is calculated using the following formula:

Initial Index Value x (1 + Cap Rate)

For instance, if the Initial Index Value is 1000 and the Cap Rate is 20%, the maximum Buffer Reference Level is 1200 (i.e., 1000 x (1 + 20%) = 1200).

At the end of the Crediting Period, the Buffer reset feature may impact your Index Credit Rate as follows:

While Buffer Auto Reset may help protect potential gains during the Crediting Period, it is subject to the same risks associated with the Cap Growth Opportunity Type and Buffer Downside Protection Type.

To calculate your Index Credit Rate at the end of the Crediting Period, we use the formula in the table below. This formula is based on the same principles as any other Index Account Option with a Cap as its Growth Opportunity Type and Buffer as its Downside Protection Type, except it includes additional components that reflect the potential application of the Buffer when the Index Change is positive or negative.

As previously explained in the prospectus, we use the following formula to calculate the Index Credit Rate at the end of a Crediting Period for a Buffer Auto Reset Enhanced Index Account Option.

Examples

The following examples will help you understand how the Buffer Reference Level may reset during a Crediting Period for a Buffer Auto Reset Enhanced Index Account Option, and how we calculate the Index Credit Rate at the end of the Crediting Period.

Each example assumes that you select a Buffer Auto Reset Enhanced Index Account Option for which we have declared the following rates:

Example 1 – Positive Index Change

The illustration below reflects how the Index hypothetically performed during this example’s Crediting Period. It also shows an Initial Index Value of 1000, the Index Value on each of the five Buffer Reset Days, and a Final Index Value of 1100. The maximum Buffer Reference Level would be 2000.

The following table describes how the Buffer Reference Level reset during the Crediting Period.

Based on the assumptions above—including the Initial Index Value (1000), Final Index Value (1100), and Buffer Reference Level (1250)—we would calculate your Index Credit Rate at the end of the Crediting Period as follows:

In this example, your Index Credit Rate would be 22.50%. Without the Buffer reset feature, your Index Credit Rate would have been 10%.

Example 2 – Negative Index Change

The illustration below reflects how the Index hypothetically performed during this example’s Crediting Period. It shows an Initial Index Value of 1000, the Index Value on each of the five Buffer Reset Days, and a Final Index Value of 600. The maximum Buffer Reference Level would be 2000.

The following table describes how the Buffer Reference Level reset during the Crediting Period.

Based on the assumptions above—including the Initial Index Value (1000), Final Index Value (600), and Buffer Reference Level (1300)—we would calculate your Index Credit Rate at the end of the Crediting Period as follows:

In this example, your Index Credit Rate would be -26.90%. Without the Buffer reset feature, your Index Credit Rate would have been -30%.

SELECTING YOUR INVESTMENT OPTIONS

This prospectus describes the Allocation Accounts that we may make available for investment. The Allocation Accounts that we are currently making available for investment will change from time to time. As a result, it is possible that an Allocation Account described in this prospectus will not be available to you at the time you purchase the Policy or make an additional premium payment, or at the end of a Crediting Period.

We reserve the right to offer new Allocation Accounts or stop offering any Allocation Account at any time. We also reserve the right to declare different rates from Crediting Period to Crediting Period for the Allocation Accounts that we are offering for investment, subject to the guaranteed limits discussed in this prospectus. There is no guarantee that any Allocation Account that you select for investment will always be available to you in the future or available with the same declared rates.

The Allocation Accounts that we offer with respect to initial and additional premium payments may differ from the Allocation Accounts that we offer at the ends of Crediting Periods. Allocation Accounts that we offer at the ends of Crediting Periods may differ depending on the date a premium payment was made.

We guarantee that we will offer at least one Basic Index Account Option for investment at all times.

In connection with any initial or additional premium payment, and any earnings under the Policy related to that premium payment, we also guarantee that at least one particular Growth Opportunity Type and at least one particular Downside Protection Type will be part of one or more Index Account Options that we make available for investment at the end of each Crediting Period. Those guaranteed Growth Opportunity Type(s) and Downside Protection Type(s) are specified in the Feature Sheet Prospectus Supplement for new premium payments and may change from time to time. Please note that the guaranteed Growth Opportunity Type(s) and Downside Protection Type(s) specified in a Feature Sheet Prospectus Supplement for new premium payments apply only to a premium payment made under that Feature Sheet Prospectus Supplement and any earnings related to that premium payment. A premium payment made under a past or future Feature Sheet Prospectus Supplement is subject to the guarantees described in that Feature Sheet Prospectus Supplement. As such, the Growth Opportunity Type(s) and Downside Protection Type(s) that are guaranteed may vary if you submit multiple premium payments.

We reserve the right to offer or stop offering the Fixed Account, or to offer the Fixed Account for different Crediting Periods, at any time. We also reserve the right to declare different annual interest rates for the Fixed Account, subject to the guaranteed minimum effective annual interest rate. There is no guarantee that the Fixed Account will always be available for investment, or that the annual interest rate will be greater than the guaranteed minimum effective annual interest rate. We will offer the Fixed Account with a 1-year Crediting Period for at least as long as it serves as the Default Option.

If we stop making an Allocation Account available, it will be closed such that no new premiums, reallocations, or transfers will be allowed into that Allocation Account. If you are currently invested in an Allocation Account and it is discontinued, you may remain in that Allocation Account until the end of the Crediting Period.

If you are not comfortable with the risk that we may not offer Allocation Accounts in the future that are attractive to you based on your personal preferences, risk tolerances, or time horizon, this Policy may not be appropriate for you. You may Surrender your Policy if there are no Allocations Accounts that you wish to select, but the Surrender may be subject to surrender charges, will be based on an Interim Value if taken before the end of a Crediting Period for an Index Account Option, and your Policy will terminate.

ALLOCATION OPTIONS DOCUMENT, RENEWAL LETTER, AND FEATURE SHEET PROSPECTUS SUPPLEMENTS

Allocation Options Document and Renewal Letter

As explained further below, it is important for you to obtain and carefully review the current Allocation Options document when purchasing the Policy and when making an additional premium payment, and to obtain your Renewal Letter before the end of each Crediting Period.

These documents will provide you with complete information about the Allocation Accounts that are available for investment, including:

In addition, the Allocation Options document will specify the annual interest rate for the Fixed Holding Account. It will also specify the Growth Opportunity Type(s) and Downside Protection Type(s) that are guaranteed to be part of at least one Index Account Option available for investment at the end of each Crediting Period, with respect to any premium payment to which that Allocation Options document applies.

As noted above, we declare certain rates in connection with the Allocation Accounts and the Fixed Holding Account. The following tables specify the rates we may declare for Basic Index Account Options, Enhanced Index Account Options, the Fixed Account, and the Fixed Holding Account. We declare these rates in our discretion, subject to certain guaranteed limits. See GUARANTEED LIMITS ON THE RATES WE DECLARE below

Feature Sheet Prospectus Supplements

The Allocation Accounts that we are currently making available for investment are also disclosed in Feature Sheet Prospectus Supplements that are part of this prospectus.

Feature Sheet Prospectus Supplements that are currently effective or pending effectiveness are available on our website, www.transamerica.com/[    ]. You may also contact our Administrative Office or your financial intermediary for a Feature Sheet Prospectus Supplement. All Feature Sheet Prospectus Supplements are available on the SEC’s EDGAR system at www.sec.gov (Central Index Key (CIK) 0001164098). Superseded information from prior Feature Sheet Prospectus Supplements is included in an exhibit to the Policy’s current registration statement filed with SEC.

A Feature Sheet Prospectus Supplement contains a subset of the information contained in the Allocation Options document or a Renewal Letter, as discussed further below.

There are two types of Feature Sheet Prospectus Supplements:

This Feature Sheet Prospectus Supplement discloses the following information:

With respect to the Allocation Accounts identified in a Feature Sheet Prospectus Supplement as being available for investment, the Feature Sheet Prospectus Supplement includes the following information:

A Feature Sheet Prospectus Supplement does not include the information listed below. This information, in addition to the information that is included in the Feature Sheet Prospectus Supplement, can be found in the Allocation Options document or Renewal Letter, as applicable.

Additional Information for Prospective Purchasers Selecting Investment Options

If you are a prospective purchaser of the Policy, you will receive the current Allocation Options document during the application process. In order to guarantee that the information in that Allocation Options document will apply to your initial premium payment, you must sign your application while that Allocation Options document remains in effect. After you sign your application, we must also receive your initial premium payment within 14 calendar days of your signature date (or 60 calendar days if the Policy is funded through an exchange, transfer, or rollover). If these conditions are not met, your application will be considered not in good order. If you decide to proceed with the purchase of the Policy after we determine that your application is not in good order, additional paperwork may be required to issue the Policy, and the Allocation Options document in effect at that time will apply your initial premium payment.

When you receive the prospectus during the application process, it will be accompanied by the effective Feature Sheet Prospectus Supplement applicable to new premium payments, as described above. This Feature Sheet Prospectus Supplement will contain certain information about the Allocation Accounts that are available for investment with respect to your initial premium payment; however, you should refer to the Allocation Options document for complete information.

You should not purchase the Policy until you have obtained and carefully reviewed the current Allocation Options document.

Additional Information for Existing Policy Owners Selecting Investment Options – Additional Premium Payment

If you decide to make an additional premium payment, you may invest in any Allocation Account that we are currently offering for investment in connection with new premium payments. Before you select your investment options, you should obtain and carefully review the current Allocation Options document, which will be available online at www.transamerica.com/[    ] or upon request by contacting our Administrative Office or your financial intermediary.

When submitting an additional premium payment, in order to guarantee the current Allocation Options document will apply to your additional premium payment, we must receive your additional premium payment while the current Allocation Options document remains in effect.

Information about the Allocation Accounts that we are making available for investment in connection with new premium payments will also be delivered to you from time-to-time in Feature Sheet Prospectus Supplements applicable to new premium payments, as described above. Any such Feature Sheet Prospectus Supplement will contain certain information about the Allocation Accounts that are available for investment with respect to your additional premium payment; however, you should refer to the Allocation Options document for complete information.

If your additional premium payment is not accompanied by allocation instructions and your standing allocation instructions are not in good order, your premium payment (or a portion thereof) will be automatically allocated to a default Allocation Account. See PREMIUM PAYMENTS – ALLOCATION OF PREMIUM PAYMENTS later in this prospectus for additional information.

Additional Information for Existing Policy Owners Selecting Investment Options – End of Crediting Period

At least 21 days before the end of each Crediting Period, we will send you a Renewal Letter and the Feature Sheet Prospectus Supplement in effect. Among other information, the Renewal Letter will: (i) remind you of your opportunity to decide how your Policy Value in the expiring Allocation Account should be invested; (ii) inform you of the Allocation Account(s) that will be available to you for investment, with complete information about the rates we declared for such Allocation Account(s); and (iii) remind you to submit instructions to us at least one Business Day before the end of the Crediting Period. You may also request the Renewal Letter by contacting our Administrative Office or your financial intermediary.

As described above, we periodically issue Feature Sheet Prospectus Supplements disclosing the Allocation Account(s) that are available for investment at the end of a Crediting Period. If you make multiple premium payments, different Feature Sheet Prospectus Supplements may apply at the ends of different Crediting Periods.

The applicable Feature Sheet Prospectus Supplement(s) will contain certain information about the Allocation Accounts that are available for investment at the end of a Crediting Period; however, you should refer to your Renewal Letter for complete information. Your Renewal Letter will contain complete, personalized information about the Allocation Accounts that are available to you based on when you made your premium payment(s).

GUARANTEED LIMITS ON THE RATES WE DECLARE

Rates that we may declare for the Index Account Options, the Fixed Account, and the Fixed Holding Account are generally declared in our discretion. However, we guarantee that the rate(s) we declare for any feature under the Policy will not violate the applicable guaranteed limit(s) in the table below.