TRANSAMERICA LANDMARKSM NY VARIABLE ANNUITY
Issued through
Transamerica Financial Life Insurance Company
Separate Account VA BNY
Updating Summary Prospectus
May 1, 2024
This Updating Summary Prospectus summarizes certain key features of the Transamerica LandmarkSM NY Variable Annuity variable annuity Policy (“the Policy”). The Updating Summary Prospectus also provides a summary of Policy features that have changed.
The prospectus for the Policy contains more information about the Policy, including its features, benefits, and risks. You can find the prospectus and other information about the Policy online at Transamerica.com. You can also obtain this information at no cost by calling (800)525-6205, or You can also request this information from Your registered representative.
Additional information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission’s staff and is available at Investor.gov.
You do have the option of continuing to receive paper copies of all future shareholder reports free of charge. If You’d like this option, give us a call at (800)525-6205, Monday through Thursday 8 - 6:30, or Friday 8 - 5:30 ET.
Your election to receive reports in paper will apply to all Portfolio Companies available under Your Policy.
TABLE OF CONTENTS
 
special TERMS_____________________________________________________________________
1
summary of policy features that have changed_____________________________________
1
2
 
PORTFOLIO COMPANIES AVAILABLE UNDER THE POLICY_________________________________
6
11
ii
special TERMS
Administrative Office - Transamerica Financial Life Insurance Company, Attention: Customer Care Group, 6400 C Street SW, Cedar Rapids, IA 52499, (800)525-6205.
Annuitant - The person on whose life any annuity payments involving life contingencies will be based.
Annuitize (Annuitization) - When You switch from the Accumulation Period to the income phase and we begin to make annuity payments to You (or Your designee).
Annuity Commencement Date - The date upon which annuity payments are to commence. In no event can this date be (1) later than the last day of the month in which the Annuitant attains age 90, or 10 years from the Policy Date if later, or (2) earlier than the first day of the calendar month coinciding with or next following the first Policy anniversary. The Annuity Commencement Date may have to be earlier for qualified policies and may be earlier if required by state law.
Annuity Payment Option - A method of receiving a stream of annuity payments selected by the Owner.
Fixed Account - One or more Investment Options under the Policy that are part of the Company's general assets and are not in the Separate Account.
Guaranteed Period Options - The various guaranteed interest rate periods of the Fixed Account which the Company may offer and into which premium payments may be paid or amounts transferred.
Owner (You, Your) - The person who may exercise all rights and privileges under the Policy.
Policy Date - The date shown on the Policy data page attached to the Policy and the date on which the Policy becomes effective.
Policy Value - On or before the Annuity Commencement Date, the Policy Value is equal to the Owner's:
●
premium payments; minus
●
gross withdrawals (withdrawals plus the surrender charge on the portion of the requested withdrawal that is subject to the surrender charge plus taxes (on the withdrawal)); plus
●
interest credited in the Fixed Account; plus
●
accumulated gains in the Separate Account; minus
●
accumulated losses in the Separate Account; minus
●
service charges, rider fees, premium taxes, transfer fees, and other charges, if any.
Policy Year - A Policy Year begins on the Policy Date and on each anniversary thereafter.
Separate Account - Separate Account VA BNY, a Separate Account established and registered as a unit investment trust under the Investment Company Act of 1940, as amended (the “1940 Act”), to which Premium Payments under the policies may be allocated.
Separate Account Value - The portion of the Policy Value that is invested in the Separate Account.
Subaccount - A subdivision within the Separate Account, the assets of which are invested in a specified Underlying Fund Portfolio.
summary of policy features that have changed
The information in this Updating Summary Prospectus is a summary of certain Policy features that have changed since the last current Prospectus. This may not reflect all of the changes that have occurred since You entered into Your Policy.
●
For changes in the names of certain portfolios and/or Advisers/Subadvisors please refer to the Appendix - Portfolio Companies Available Under the Policy.
●
For updated portfolio expense information please refer to Important Information You Should Consider About This Policy and the Appendix - Portfolio Companies Available Under the Policy.
●
For updated portfolio performance information please refer to the Appendix - Portfolio Companies Available Under the Policy.
1
important INFORMATION you should consider about the policy 
 
FEES AND EXPENSES
Location in
Prospectus
Charges for Early
Withdrawal
If You withdraw money during a specified number of Policy Years
following each premium payment being withdrawn, You may be assessed a
surrender charge. The surrender charge is assessed for 7 years with a
maximum of 8%. The surrender charge is assessed for the first 4 years with
a maximum of 8% under the Landmark with the Liquidity Rider.
For example, if You make an early withdrawal, You could pay a surrender
charge on a $100,000 investment of up to $8,000.
Annuity Policy Fee
Tables and Expense
Examples
Transaction Expenses
– Surrender Charges
Access to Your Money
-Surrenders
Transaction Charges
In addition to surrender charges, You also may be assessed a transfer fee
and special services fee.
Transfer Fee. We reserve the right to charge for transfers among Investment
Options after the first 12 transfers per Policy Year. For each such
additional transfer, we may impose a transfer fee of $10. Currently, we do
not charge a transfer fee, but reserve the right to do so.
Special Service Fee. We reserve the right to deduct a $50 charge for special
services, including overnight delivery, duplicate policies, handling
insufficient 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.
Annuity Policy Fee
Tables and Expense
Examples
Expenses –
Transaction Expenses
2
 
FEES AND EXPENSES
Location in
Prospectus
Ongoing Fees and
Expenses
(annual charges)
The table below describes the fees and expenses that You may pay each
year, depending on the options You choose. Please refer to Your Policy
specifications page for information about the specific fees You will pay
each year based on the options You have elected.
Annuity Policy Fee
Tables and Expense
Examples
Base Contract Expenses
Appendix – Portfolio
Companies Available
Under the Policy
Annual Fee
Minimum
Maximum
Base Policy1
1.30%
3.30%
Portfolio Company (fund fees and
expenses)2
0.29%
1.45%
Optional Benefit Expenses (if elected)
0.15%1
2.50%3
1 As a percentage of average Separate Account Value.
2 As a percentage of Portfolio Company assets.
3 As a percentage of the Withdrawal Base.
Because Your Policy is customizable, the choices You make affect how
much You will pay. To help You understand the cost of owning Your
Policy, the following table shows the lowest and highest cost You could pay
each year based on current charges. This estimate assumes that You do not
take withdrawals from the Policy, which could add surrender charges
that substantially increase costs.
Lowest Annual Cost
$1,625
Highest Annual Cost
$5,696
Assumes:
Assumes:
●Investment of $100,000
●5% annual appreciation
●Least expensive Portfolio Company
fees and expenses
●No optional benefits
●No sales charges
●No additional purchase payments,
transfers, or withdrawals
●Investment of $100,000
●5% annual appreciation
●Most expensive combination
of optional benefits and
Portfolio Company fees and
expenses
●No sales charges
●No additional purchase
payments, transfers, or
withdrawals
 
RISKS
Location in
Prospectus
Risk of Loss
You can lose money by investing in this Policy.
Principal Risks of
Investing in the Policy
Not a Short-Term
Investment
This Policy is not a short-term investment and is not appropriate for an
investor who needs ready access to cash.
Surrender charges may apply for several years under the Policy. Surrender
charges will reduce the value of Your Policy if You withdraw money during
that time.
The benefits of tax deferral and living benefit protection also means the
Policy is more beneficial to investors with a long-term time horizon.
Principal Risks of
Investing in the Policy
Transaction Expenses -
Surrender Charges
Tax Information
3
 
RISKS
Location in
Prospectus
Risks Associated with
Investment Options
●An investment in this Policy is subject to the risk of poor investment
performance and can vary depending on the performance of the
Investment Options available under the Policy.
●Each Investment Option, including the Fixed Account, has its own
unique risks.
●You should review the prospectuses for the available Portfolio
Companies before making an investment decision.
Principal Risks of
Investing in the Policy
Investment Options
Appendix: Portfolio
Companies Available
Under the Policy
Insurance Company
Risks
Any obligations (including under the Fixed Account), guarantees, and
benefits under the Policy are subject to our claims-paying ability. If we
experience financial distress, we may not be able to meet our obligations
to You. More information about Transamerica Financial Life Insurance
Company, including our financial strength ratings, is available by visiting
transamerica.com or by calling toll-free (800)525-6205.
Principal Risks of
Investing in the Policy
Transamerica Financial
Life Insurance
Company
Financial Condition
 
RESTRICTIONS
Location in
Prospectus
Investments
●We reserve the right to impose a charge for transfers in excess of 12
transfers per Policy Year.
●We reserve the right to limit transfers in circumstances of large or
frequent transfers.
●The Fixed Account option may not be available for investment
depending on when You applied for Your Policy and when it was issued.
●We reserve the right to remove or substitute the Portfolio Companies
that are available as Investment Options under the Policy.
Transaction Expenses
Investment Option –
Transfers
Market Timing and
Disruptive Trading
Optional Benefits
●Certain optional benefits limit or restrict the Investment Options that
You may select under the Policy. We reserve the right to change these
restrictions in the future.
●Withdrawals that exceed limits specified by the terms of an optional
benefit may reduce the value of an optional benefit by an amount
greater than the value withdrawn, which could significantly reduce the
value or even terminate the benefit.
●We reserve the right to stop offering an optional benefit at any time for
new sales, which includes sales to the Owners who may want to
purchase the benefit after they purchase the Policy.
●In some cases, a benefit may not be available through all financial
intermediaries or all states. For more information on the options
available for electing a benefit, please contact Your financial
intermediary or our Administrative Office.
Investment Restrictions
Benefits Available
Under the Policy
Optional Benefit Riders
4
 
TAXES
Location in
Prospectus
Tax Implications
●Consult with a tax professional to determine the tax implications of an
investment in and payments received under the Policy.
●If You purchase the Policy as an individual retirement account or
through a tax qualified plan, You do not get any additional tax benefit.
●You will generally not be taxed on increases in the value of Your Policy
until they are withdrawn. Earnings on Your Policy are taxed at ordinary
income tax rates when withdrawn, and You may have to pay a penalty if
You take a withdrawal before age 59 ½.
Tax Information
 
CONFLICT OF INTEREST
Location in
Prospectus
Investment Professional
Compensation
Your investment professional may receive compensation for selling this
Policy to You, in the form of commissions, additional cash benefits (e.g.,
bonuses), and non-cash compensation. Our affiliate, Transamerica
Capital, Inc. (“TCI”) is the principal underwriter and may share the
revenue we earn on this Policy with Your investment professional’s firm. In
addition, we may pay all or a portion of the cost of affiliates’ operating
and other expenses. This conflict of interest may influence Your
investment professional to recommend this Policy over another investment
for which the investment professional is not compensated or compensated
less.
Distribution of the
Policies
Exchanges
If You already own an insurance Policy, some investment professionals
may have a financial incentive to offer You a new Policy in place of the
one You own. You should only exchange a Policy you already own if You
determine, after comparing the features, fees, and risks of both policies,
that it is better for You to purchase the new Policy rather than continue to
own Your existing Policy.
Exchanges and/or
Reinstatements
5
APPENDIX
PORTFOLIO COMPANIES AVAILABLE UNDER THE POLICY
The following is a list of current Portfolio Companies available under the Policy, which are subject to change as discussed in this prospectus.  Depending on the optional benefits you choose, you may not be able to invest in certain Portfolio Companies.
Certain Subaccounts may not be available in all states, at all times or through all financial intermediaries. We may discontinue offering any Subaccount at any time. In some cases, a Subaccount not available through a financial intermediary may be obtained by contacting us directly. For more information on the options available for electing a Subaccount, please contact Your financial intermediary or our Administrative Office.
More information about the Portfolio Companies is available in the prospectuses for the Portfolio Companies, which may be amended from time to time and can be found online at http://dfinview.com/Transamerica/TAHD/893505404?site=VAVUL. You can also request this information at no cost by calling our Administrative Office at (800)525-6205.
The current expenses and performance below reflects fee and expenses of the Portfolio Companies, but do not reflect the other fees and expenses that Your Policy may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Portfolio Company’s past performance is not necessarily an indication of future performance. 
Investment Objective
Underlying Fund Portfolio and
Adviser/Sub-adviser (1)
Current
Expenses
Platform
Charges
Current
Expenses
Plus
Platform
Charges
Average Annual
Total Returns
(as of 12/31/23)
1 year
5 years
10 years
To maximize total return consistent
with the Adviser's determination of
reasonable risk.
AB Balanced Hedged Allocation
Portfolio - Class B
 
Advised by: AllianceBernstein L.P.
0.99%
0.20%
1.19%
12.66%
5.92%
5.04%
Long-term growth of capital.
AB Relative Value Portfolio - Class B
 
Advised by: AllianceBernstein L.P.
0.87%
-
0.87%
11.72%
11.57%
9.05%
To provide high total return (including
income and capital gains) consistent
with preservation of capital over the
long term.
American Funds - Asset
Allocation FundSM - Class 2
 
Advised by: Capital Research and
Management CompanySM
0.55%
0.30%
0.85%
14.27%
9.20%
7.25%
To provide growth of capital.
American Funds - Growth FundSM -
Class 2
 
Advised by: Capital Research and
Management CompanySM
0.59%
0.30%
0.89%
38.49%
18.68%
14.36%
To achieve long-term growth of capital
and income.
American Funds - Growth-Income
FundSM - Class 2
 
Advised by: Capital Research and
Management CompanySM
0.53%
0.30%
0.83%
26.14%
13.36%
10.91%
To achieve long-term growth of capital.
American Funds - International
FundSM - Class 2
 
Advised by: Capital Research and
Management CompanySM
0.78%
0.30%
1.08%
15.84%
4.83%
3.41%
To provide as high a level of current
income as is consistent with the
preservation of capital.
American Funds - The Bond Fund of
AmericaSM - Class 2
 
Advised by: Capital Research and
Management CompanySM
0.63%
0.30%
0.93%
5.02%
1.89%
2.08%
Seeks income and capital growth
consistent with reasonable risk.
Fidelity® VIP Balanced Portfolio -
Service Class 2
 
Advised by: Fidelity Management &
Research Company
0.69%
-
0.69%
21.29%
12.16%
8.81%
Seeks long-term capital appreciation.
Fidelity® VIP Contrafund® Portfolio -
Service Class 2
 
Advised by: Fidelity Management &
Research Company
0.81%
-
0.81%
33.12%
16.36%
11.33%
6
PORTFOLIO COMPANIES AVAILABLE UNDER THE POLICY — (Continued)
Investment Objective
Underlying Fund Portfolio and
Adviser/Sub-adviser (1)
Current
Expenses
Platform
Charges
Current
Expenses
Plus
Platform
Charges
Average Annual
Total Returns
(as of 12/31/23)
1 year
5 years
10 years
Seeks long-term growth of capital.
Fidelity® VIP Mid Cap Portfolio -
Service Class 2
 
Advised by: Fidelity Management &
Research Company
0.82%
-
0.82%
14.80%
12.17%
7.85%
Seeks capital appreciation.
Fidelity® VIP Value Strategies Portfolio
- Service Class 2
 
Advised by: Fidelity Management &
Research Company
0.85%
-
0.85%
20.61%
16.63%
9.10%
The highest total return, composed of
current income and capital
appreciation, as is consistent with
prudent investment risk.
State Street Total Return V.I.S. Fund -
Class 3
 
Advised by: SSGA Funds Management,
Inc.
0.90%
0.20%
1.10%
15.21%
5.90%
4.66%
Seeks maximum total return consistent
with preservation of capital and
prudent investment management.
Transamerica Aegon Bond VP –
Service Class
 
Sub-Advised by: Pacific Investment
Management Company LLC
0.78%
-
0.78%
6.18%
0.73%
1.44%
Seeks total return, consisting of current
income and capital appreciation.
Transamerica Aegon Core Bond VP -
Service Class
 
Sub-Advised by: J.P. Morgan
Investment Management Inc.
0.75%
-
0.75%
5.78%
1.06%
1.60%
Seeks a high level of current income by
investing in high-yield debt securities.
Transamerica Aegon High Yield Bond
VP - Service Class
 
Sub-Advised by: Aegon USA Investment
Management, LLC
0.90%
-
0.90%
10.87%
4.47%
4.00%
Seeks total return gained from the
combination of dividend yield, growth
of dividends and capital appreciation.
Transamerica Aegon Sustainable Equity
Income VP - Service Class
 
Sub-Advised by: Aegon Asset
Management UK plc (“AAM”)
0.98%
-
0.98%
6.00%
5.44%
5.13%
Seeks to provide as high a level of total
return as is consistent with prudent
investment strategies.
Transamerica Aegon U.S. Government
Securities VP - Service Class
 
Sub-Advised by: Aegon USA Investment
Management, LLC
0.83%
-
0.83%
3.69%
0.25%
0.79%
Seeks to provide total return (including
income and capital gains) consistent
with preservation of capital over the
long term while seeking to manage
volatility and provide downside
protection.
Transamerica American Funds
Managed Risk VP - Service Class
 
Sub-Advised by: Milliman Financial
Risk Management LLC
1.10%
-
1.10%
10.39%
6.32%
N/A
Seeks as high a level of current income
as is consistent with preservation of
capital and liquidity.
Transamerica BlackRock Government
Money Market VP - Service Class(2)
 
Sub-Advised by: BlackRock Investment
Management, LLC
0.54%
-
0.54%
4.66%
1.58%
0.87%
Seeks current income and preservation
of capital.
Transamerica BlackRock iShares Active
Asset Allocation - Conservative VP -
Service Class
 
Sub-Advised by: BlackRock Investment
Management, LLC
0.92%
-
0.92%
9.96%
3.16%
2.79%
Seeks capital appreciation and current
income.
Transamerica BlackRock iShares Active
Asset Allocation - Moderate VP -
Service Class
 
Sub-Advised by: BlackRock Investment
Management, LLC
0.88%
-
0.88%
13.37%
3.15%
2.73%
7
PORTFOLIO COMPANIES AVAILABLE UNDER THE POLICY — (Continued)
Investment Objective
Underlying Fund Portfolio and
Adviser/Sub-adviser (1)
Current
Expenses
Platform
Charges
Current
Expenses
Plus
Platform
Charges
Average Annual
Total Returns
(as of 12/31/23)
1 year
5 years
10 years
Seeks capital appreciation with current
income as secondary objective.
Transamerica BlackRock iShares Active
Asset Allocation - Moderate Growth
VP - Service Class
 
Sub-Advised by: BlackRock Investment
Management, LLC
0.91%
-
0.91%
17.62%
2.43%
2.30%
Seeks capital appreciation and income.
Transamerica BlackRock iShares
Dynamic Allocation - Balanced VP -
Service Class
 
Sub-Advised by: BlackRock Investment
Management, LLC
0.89%
-
0.89%
12.66%
3.61%
3.01%
Seeks capital appreciation and income.
Transamerica BlackRock iShares
Dynamic Allocation - Moderate
Growth VP - Service Class
 
Sub-Advised by: BlackRock Investment
Management, LLC
0.89%
-
0.89%
17.28%
4.96%
3.63%
Seeks long term capital appreciation
and capital preservation.
Transamerica BlackRock iShares Edge
40 VP - Service Class
 
Sub-Advised by: BlackRock Investment
Management, LLC
0.71%
-
0.71%
9.07%
4.46%
3.37%
Seeks long-term capital appreciation
and capital preservation.
Transamerica BlackRock iShares Edge
50 VP - Service Class
 
Sub-Advised by: BlackRock Investment
Management, LLC
0.69%
-
0.69%
9.79%
5.19%
N/A
Seeks long-term capital appreciation
and capital preservation as a secondary
objective.
Transamerica BlackRock iShares Edge
75 VP - Service Class
 
Sub-Advised by: BlackRock Investment
Management, LLC
0.73%
-
0.73%
12.09%
7.36%
N/A
Seeks long-term capital appreciation.
Transamerica BlackRock iShares Edge
100 VP - Service Class
 
Sub-Advised by: BlackRock Investment
Management, LLC
0.81%
-
0.81%
14.47%
9.34%
N/A
Seeks a combination of capital
appreciation and income.
Transamerica BlackRock iShares
Tactical - Balanced VP - Service Class
 
(3)
Sub-Advised by: Pacific Investment
Management Company LLC
0.89%
-
0.89%
10.66%
4.27%
3.59%
Seeks a combination of capital
appreciation and income.
Transamerica BlackRock iShares
Tactical - Conservative VP - Service
Class(4)
 
Sub-Advised by: Pacific Investment
Management Company LLC
0.92%
-
0.92%
7.24%
3.61%
3.40%
Seeks a combination of capital
appreciation and income.
Transamerica BlackRock iShares
Tactical - Growth VP - Service Class
 
(5)
Sub-Advised by: Pacific Investment
Management Company LLC
0.93%
-
0.93%
13.94%
6.23%
4.44%
Seeks to maximize total return.
Transamerica BlackRock Real Estate
Securities VP - Service Class
 
Sub-Advised by: BlackRock Investment
Management, LLC
1.15%
-
1.15%
13.15%
4.85%
3.59%
8
PORTFOLIO COMPANIES AVAILABLE UNDER THE POLICY — (Continued)
Investment Objective
Underlying Fund Portfolio and
Adviser/Sub-adviser (1)
Current
Expenses
Platform
Charges
Current
Expenses
Plus
Platform
Charges
Average Annual
Total Returns
(as of 12/31/23)
1 year
5 years
10 years
Seeks capital appreciation with current
income as a secondary objective.
Transamerica BlackRock Tactical
Allocation VP - Service Class
 
Sub-Advised by: BlackRock Investment
Management, LLC
1.02%
-
1.02%
14.88%
6.54%
4.90%
Seeks to balance capital appreciation
and income.
Transamerica Goldman Sachs Managed
Risk - Balanced ETF VP - Service Class
 
Sub-Advised by: Milliman Financial
Risk Management LLC
0.64%
-
0.64%
13.20%
5.04%
3.97%
Seeks current income and preservation
of capital.
Transamerica Goldman Sachs Managed
Risk - Conservative ETF VP - Service
Class
 
Sub-Advised by: Milliman Financial
Risk Management LLC
0.66%
-
0.66%
10.59%
3.35%
3.22%
Seeks capital appreciation as a primary
objective and income as a secondary
objective.
Transamerica Goldman Sachs Managed
Risk - Growth ETF VP - Service Class
 
Sub-Advised by: Milliman Financial
Risk Management LLC
0.67%
-
0.67%
17.68%
7.38%
5.13%
Seeks long-term capital appreciation.
Transamerica International Focus VP -
Service Class
 
Sub-Advised by: Epoch Investment
Partners, Inc.
1.10%
-
1.10%
12.27%
8.75%
4.09%
Seeks long-term capital growth,
consistent with preservation of capital
and balanced by current income.
Transamerica Janus Balanced VP -
Service Class
 
Sub-Advised by: Janus Henderson
Investors US LLC
0.99%
-
0.99%
15.01%
9.00%
7.27%
Seeks long-term capital appreciation.
Transamerica Janus Mid-Cap Growth
VP - Service Class
 
Sub-Advised by: Janus Henderson
Investors US LLC
1.11%
-
1.11%
16.80%
12.97%
7.98%
Seeks current income and preservation
of capital.
Transamerica JPMorgan Asset
Allocation - Conservative VP –
Service Class
 
Sub-Advised by: J.P. Morgan
Investment Management Inc.
0.99%
-
0.99%
6.83%
3.73%
3.04%
Seeks current income and preservation
of capital.
Transamerica JPMorgan Asset
Allocation - Growth VP – Service
Class
 
Sub-Advised by: J.P. Morgan
Investment Management Inc.
1.11%
-
1.11%
20.00%
11.61%
7.40%
Seeks capital appreciation and current
income.
Transamerica JPMorgan Asset
Allocation - Moderate VP – Service
Class
 
Sub-Advised by: J.P. Morgan
Investment Management Inc.
1.02%
-
1.02%
8.86%
5.31%
4.13%
Seeks capital appreciation with current
income as a secondary objective.
Transamerica JPMorgan Asset
Allocation - Moderate Growth VP –
Service Class
 
Sub-Advised by: J.P. Morgan
Investment Management Inc.
1.08%
-
1.08%
11.93%
7.59%
5.41%
9
PORTFOLIO COMPANIES AVAILABLE UNDER THE POLICY — (Continued)
Investment Objective
Underlying Fund Portfolio and
Adviser/Sub-adviser (1)
Current
Expenses
Platform
Charges
Current
Expenses
Plus
Platform
Charges
Average Annual
Total Returns
(as of 12/31/23)
1 year
5 years
10 years
Seeks to earn a total return modestly in
excess of the total return performance
of the S&P 500® (including the
reinvestment of dividends) while
maintaining a volatility of return
similar to the S&P 500®.
Transamerica JPMorgan Enhanced
Index VP – Service Class
 
Sub-Advised by: J.P. Morgan
Investment Management Inc.
0.87%
-
0.87%
27.39%
16.10%
11.67%
Seeks capital appreciation with current
income as a secondary objective.
Transamerica JPMorgan International
Moderate Growth VP – Service Class
 
Sub-Advised by: J.P. Morgan
Investment Management Inc.
1.14%
-
1.14%
8.70%
5.68%
3.33%
Seeks current income and preservation
of capital.
Transamerica JPMorgan Tactical
Allocation VP - Service Class
 
Sub-Advised by: J.P. Morgan
Investment Management Inc.
1.02%
-
1.02%
8.57%
3.90%
3.44%
Seeks high total return through the
combination of income and capital
appreciation.
Transamerica Madison Diversified
Income VP - Service Class
 
Sub-Advised by: Madison Asset
Management. LLC
1.08%
-
1.08%
3.97%
4.51%
4.38%
Seeks capital appreciation.
Transamerica Market Participation
Strategy VP - Service Class
 
Sub-Advised by: PGIM Quantitative
Solutions LLC
0.98%
-
0.98%
11.55%
9.06%
6.12%
Seeks high total return..
Transamerica Morgan Stanley Global
Allocation VP - Service Class
 
Sub-Advised by: Morgan Stanley
Investment Management Inc.
1.28%
-
1.28%
13.69%
7.12%
4.51%
Seeks to provide capital appreciation
and income while seeking to manage
volatility.
Transamerica Morgan Stanley Global
Allocation Managed Risk - Balanced
VP - Service Class
 
Sub-Advised by: Milliman Financial
Risk Management LLC
1.45%
-
1.45%
9.00%
3.64%
N/A
Seeks to track the investment results of
an index composed of large- and
mid-capitalization developed market
equities, excluding the U.S. and
Canada.
Transamerica MSCI EAFE Index VP -
Service Class
 
Sub-Advised by: SSGA Funds
Management, Inc.
0.61%
0.15%
0.76%
17.46%
7.80%
N/A
Seeks to provide a high total
investment return through investments
in a broadly diversified portfolio of
stock, bonds and money market
instruments.
Transamerica Multi-Managed Balanced
VP – Service Class
 
Sub-Advised by: J.P. Morgan
Investment Management Inc. and Aegon
USA Investment Management, LLC
0.89%
-
0.89%
18.44%
10.16%
7.75%
Seeks maximum real return, consistent
with appreciation of capital.
Transamerica PineBridge Inflation
Opportunities VP - Service Class
 
Sub-Advised by: PineBridge
Investments LLC
0.78%
-
0.78%
5.44%
2.87%
2.00%
Seeks to provide investment results
that, before expenses, correspond
generally to the price and yield
performance of the S&P 500® Index.
Transamerica S&P 500 Index VP -
Service Class
 
Sub-Advised by: SSGA Funds
Management, Inc.
0.39%
0.15%
0.54%
25.73%
15.20%
N/A
10
PORTFOLIO COMPANIES AVAILABLE UNDER THE POLICY — (Continued)
Investment Objective
Underlying Fund Portfolio and
Adviser/Sub-adviser (1)
Current
Expenses
Platform
Charges
Current
Expenses
Plus
Platform
Charges
Average Annual
Total Returns
(as of 12/31/23)
1 year
5 years
10 years
Seeks to maximize total return.
Transamerica Small/Mid Cap Value VP
– Service Class
 
Sub-Advised by: Systematic Financial
Management L.P. & Thompson, Siegel &
Walmsley LLC
1.07%
-
1.07%
12.15%
11.19%
7.88%
Seeks long-term growth of capital by
investing primarily in common stocks
of small growth companies.
Transamerica T. Rowe Price Small Cap
VP – Service Class
 
Sub-Advised by: T. Rowe Price
Associates, Inc.
1.09%
-
1.09%
20.88%
11.15%
8.74%
Seeks maximum long-term total return,
consistent with reasonable risk to
principal, by investing in a diversified
portfolio of common stocks of
primarily non-U.S. issuers.
Transamerica TS&W
International Equity VP – Service
Class
 
Sub-Advised by: Thompson, Siegel &
Walmsley LLC
1.11%
-
1.11%
15.26%
7.39%
3.59%
Seeks growth from capital appreciation.
Transamerica TS&W Mid Cap Value
Opportunities VP–Service Class(6)
 
Sub-Advised by: J.P. Morgan
Investment Management Inc.
1.02%
-
1.02%
10.57%
10.68%
7.74%
Seeks to maximize long-term growth.
Transamerica WMC US Growth VP –
Service Class(7)
 
Sub-Advised by: Wellington
Management Company, LLP
0.91%
-
0.91%
41.72%
17.45%
13.31%
(1) 
Some Subaccounts may be available for certain policies and may not be available for all policies. You should work with Your registered representative to decide which Subaccount(s) may be appropriate for You based on a thorough analysis of your particular insurance needs, financial objective, investment goals, time horizons, and risk tolerance.
(2) 
There can be no assurance that any money market portfolio offered under this Policy will be able to maintain a stable net asset value per share during extended periods of low interest rates, and partly as a result of Policy charges, the yield on the money market Subaccount may become extremely low and possibly negative.
(3) 
Effective on or about May 1, 2024 Transamerica PIMCO Tactical - Balanced VP was renamed Transamerica BlackRock iShares Tactical - Balanced VP and the sub-advisor was changed to BlackRock Investment Management, LLC.
(4) 
Effective on or about May 1, 2024 Transamerica PIMCO Tactical - Conservative VP was renamed Transamerica BlackRock iShares Tactical - Conservative VP and the sub-advisor was changed to BlackRock Investment Management, LLC.
(5) 
Effective on or about May 1, 2024 Transamerica PIMCO Tactical - Growth VP was renamed Transamerica BlackRock iShares Tactical - Balanced VP and the sub-advisor was changed to BlackRock Investment Management, LLC.
(6) 
Effective on or about May 1, 2024 Transamerica JPMorgan Mid Cap Value VP was renamed Transamerica TS& W Mid Cap Value Opportunities VP and the sub-advisor was changed to Thompson, Siegel & Walmsley LLC.
(7) 
Effective on or about May 1, 2023 Transamerica Morgan Stanley Capital Growth VP was substituted with Transamerica WMC US Growth VP. The sub-advisor of the acquiring fund is Wellington Management Company, LLP.
NOTE: All underlying fund portfolios in the Transamerica Series Trust are advised by Transamerica Asset Management. The entities listed are the sub-advisors unless otherwise indicated.
PORTfolio companies available under the policy prior to 2003
For policyholders that purchased their policies before May 1, 2003, the following Initial Class Transamerica Series Trust funds are available in place of the Service Class funds listed in the prior fund listing.
The current expenses and performance below reflects fee and expenses of the Portfolio Companies. Fund Facilitation Fees are not applicable to these funds. 
11
PORTfolio companies available under the policy prior to 2003 — (Continued)
Investment Objective
Underlying Fund Portfolio and
Adviser/Sub-adviser (1)
Current
Expenses
Average Annual
Total Returns
(as of 12/31/22)
1 year
5 years
10 years
Seeks maximum total return consistent with
preservation of capital and prudent investment
management.
Transamerica Aegon Bond VP – Initial Class
Sub-Advised by: Aegon USA Investment
Management, LLC
0.53%
6.45%
0.96%
1.70%
Seeks a high level of current income by
investing in high-yield debt securities.
Transamerica Aegon High Yield Bond VP –
Initial Class
Sub-Advised by: Aegon USA Investment
Management, LLC
0.65%
11.11%
4.73%
4.26%
Seeks to provide as high a level of total return as
is consistent with prudent investment strategies.
Transamerica Aegon U.S. Government
Securities VP – Initial Class
Sub-Advised by: Aegon USA Investment
Management, LLC
0.58%
4.00%
0.51%
1.04%
Seeks as high a level of current income as is
consistent with preservation of capital and
liquidity.
Transamerica BlackRock Government Money
Market VP - Initial Class(1)
Sub-Advised by: BlackRock Investment
Management, LLC
0.29%
4.85%
1.68%
1.01%
Seeks long term capital appreciation and capital
preservation.
Transamerica BlackRock iShares Edge 40 VP –
Initial Class
Sub-Advised by: BlackRock Investment
Management, LLC
0.46%
9.45%
4.71%
3.63%
Seeks to maximize total return.
Transamerica BlackRock Real Estate Securities
VP – Initial Class(4)
Sub-Advised by: BlackRock Investment
Management, LLC
0.90%
13.33%
5.09%
3.84%
Seeks long-term capital appreciation.
Transamerica International Focus VP – Initial
Class
Sub-Advised by: Epoch Investment Partners, Inc.
0.85%
12.53%
9.01%
4.35%
Seeks long-term capital appreciation.
Transamerica Janus Mid-Cap Growth VP –
Initial Class
Sub-Advised by: Janus Henderson Investors US
LLC
0.86%
17.04%
13.26%
8.25%
Seeks current income and preservation of
capital.
Transamerica JPMorgan Asset Allocation -
Conservative VP - Initial Class
Sub-Advised by: J.P. Morgan Investment
Management Inc.
0.74%
7.05%
4.03%
3.30%
Seeks current income and preservation of
capital.
Transamerica JPMorgan Asset Allocation -
Growth VP - Initial Class
Sub-Advised by: J.P. Morgan Investment
Management Inc.
0.86%
20.34%
11.88%
7.66%
Seeks capital appreciation with current income
as a secondary objective.
Transamerica JPMorgan Asset Allocation -
Moderate Growth VP - Initial Class
Sub-Advised by: J.P. Morgan Investment
Management Inc.
0.83%
12.21%
7.85%
5.67%
Seeks to earn a total return modestly in excess
of the total return performance of the S&P
500® (including the reinvestment of dividends)
while maintaining a volatility of return similar
to the S&P 500®.
Transamerica JPMorgan Enhanced Index VP –
Initial Class
Sub-Advised by: J.P. Morgan Investment
Management Inc.
0.62%
27.66%
16.39%
11.94%
Seeks to provide a high total investment return
through investments in a broadly diversified
portfolio of stock, bonds and money market
instruments.
Transamerica Multi-Managed Balanced VP –
Initial Class
Sub-Advised by: J.P. Morgan Investment
Management Inc. and Aegon USA Investment
Management, LLC
0.89%
18.73%
10.42%
8.02%
Seeks long-term growth of capital by investing
primarily in common stocks of small growth
companies.
Transamerica T. Rowe Price Small Cap VP –
Initial Class
Sub-Advised by: T. Rowe Price Associates, Inc.
0.84%
21.20%
11.44%
9.02%
Seeks maximum long-term total return,
consistent with reasonable risk to principal, by
investing in a diversified portfolio of common
stocks of primarily non-U.S. issuers.
Transamerica TS&W International Equity VP
– Initial Class
Sub-Advised by: Thompson, Siegel & Walmsley
LLC
0.86%
15.48%
7.65%
3.84%
12
PORTfolio companies available under the policy prior to 2003 — (Continued)
Investment Objective
Underlying Fund Portfolio and
Adviser/Sub-adviser (1)
Current
Expenses
Average Annual
Total Returns
(as of 12/31/22)
1 year
5 years
10 years
Seeks to maximize long-term growth.
Transamerica WMC US Growth VP – Initial
Class
Sub-Advised by: Wellington Management
Company, LLP
0.66%
42.08%
17.74%
13.59%
(1) 
There can be no assurance that any money market portfolio offered under this Policy will be able to maintain a stable net asset value per share during extended periods of low interest rates, and partly as a result of policy charges, the yield on the money market Subaccount may become extremely low and possibly negative.
CLOSED INVESTMENT OPTIONS:
The following Subaccounts are only available to Owners that held an investment in those Subaccounts on May 1, 2002. However, if any such Owner surrenders all of his or her money from these Subaccounts after May 1, 2002, that Owner may not reinvest in those Subaccounts. 
Investment Objective
Underlying Fund Portfolio and
Adviser/Sub-adviser (1)
Current
Expenses
Average Annual
Total Returns
(as of 12/31/23)
1 year
5 years
10 years
Investment Objective: Seeks to provide capital
growth.
Fidelity VIP Growth Opportunities Portfolio -
Service Class 2
Advised by: Fidelity Management & Research
Company
0.84%
45.30%
18.79%
15.44%
Investment Objective: Seeks capital appreciation.
Janus Henderson Mid Cap Value Portfolio -
Service Shares
Advised by: Janus Henderson Investors US LLC
0.93%
11.11%
9.94%
6.91%
The following Subaccount is only available to Owners that held an investment in this Subaccount on July 1, 2002. However, if any such Owner surrenders all of his or her money from this Subaccount after July 1, 2002, that Owner may not reinvest in this Subaccount. 
Investment Objective
Underlying Fund Portfolio and
Adviser/Sub-adviser (1)
Current
Expenses
Average Annual
Total Returns
(as of 12/31/23)
1 year
5 years
10 years
Investment Objective: Seeks to maximize total
return.
Transamerica Small/Mid Cap Value VP - Initial
Class
Sub-Advised by: Systematic Financial
Management L.P. & Thompson, Siegel &
Walmsley LLC
%
12.40%
11.47%
8.14%
The following Subaccounts will be closed to new investments on May 1, 2006: 
Investment Objective
Underlying Fund Portfolio and
Adviser/Sub-adviser (1)
Current
Expenses
Average Annual
Total Returns
(as of 12/31/23)
1 year
5 years
10 years
Investment Objective: Seeks capital appreciation
with secondary goal of achieving current
income by investing primarily in equity
securities.
LVIP JPMorgan Mid Cap Value Fund - Class
1(1)
Sub-Advised by: J.P. Morgan Investment
Management Inc.
0.74%
10.91%
10.98%
8.05%
Investment Objective: Seeks capital growth over
the long term.
LVIP JPMorgan Small Cap Core Fund - Class
1(2)
Sub-Advised by: J.P. Morgan Investment
Management Inc.
0.78%
13.10%
9.41%
7.10%
Effective on or about May 1, 2023 JPMorgan Insurance Trust Mid Cap Value Portfolio was merged into Lincoln Financial Variable Insurance Products Trust and was renamed LVIP JPMorgan Mid Cap Value Fund.
13
PORTfolio companies available under the policy prior to 2003 — (Continued)
Effective on or about May 1, 2023 JPMorgan Insurance Trust Small Cap Core Portfolio was merged into Lincoln Financial Variable Insurance Products Trust and was renamed LVIP JPMorgan Small Cap Core Fund.
Effective the close of business on April 29, 2011, the following Subaccount will be closed to new investments. If any such Owner surrender all of his or her money from this Subaccount after April 29, 2011, that Owner may not reinvest in this Subaccount. 
Investment Objective
Underlying Fund Portfolio and
Adviser/Sub-adviser (1)
Current
Expenses
Average Annual
Total Returns
(as of 12/31/23)
1 year
5 years
10 years
Investment Objective: Seeks to maximize total
return by investing primarily in a diversified
portfolio of intermediate - and long-term debt
securities.
LVIP JPMorgan Core Bond Fund - Class 1(1)
Sub-Advised by: J.P. Morgan Investment
Management Inc.
0.49%
5.91%
1.28%
1.81%
Effective on or about May 1, 2023 JPMorgan Insurance Trust Core Bond Portfolio was merged into Lincoln Financial Variable Insurance Products Trust and was renamed LVIP JPMorgan Core Bond Fund.
The following Subaccounts are only available to Owners that held an investment in these Subaccounts on December 12, 2011. However, if any such Owner surrenders all of his or her money from these Subaccounts after December 12, 2011, that Owner may not reinvest in those Subaccounts. 
Investment Objective
Underlying Fund Portfolio and
Adviser/Sub-adviser (1)
Current
Expenses
Average Annual
Total Returns
(as of 12/31/23)
1 year
5 years
10 years
Investment Objective: Seek capital growth.
Invesco V.I. American Franchise Fund – Series
II Shares
Advised by: Invesco Advisers, Inc.
1.11%
40.60%
15.88%
11.42%
Investment Objective: Long-term growth of
capital.
AB Large Cap Growth Portfolio – Class B
Advised by: AllianceBernstein L.P.
0.92%
34.78%
17.56%
14.60%
Investment Objective: Seeks reasonable income
and will also consider the potential for capital
appreciation. The goal is to achieve a yield
which exceeds the composite yield on the
securities comprising the S&P 500® Index.
Fidelity VIP Equity-Income Portfolio –
Service Class 2
Advised by: Fidelity Management & Research
Company
0.72%
10.38%
12.01%
8.31%
Investment Objective: Seeks to achieve capital
appreciation.
Fidelity VIP Growth Portfolio – Service Class
2
Advised by: Fidelity Management & Research
Company
0.83%
35.89%
19.34%
14.51%
Investment Objective: Capital appreciation.
Secondary goal is income.
Franklin Mutual Shares VIP Fund - Class 2
Advised by: Franklin Mutual Advisers, LLC
0.93%
13.46%
7.82%
5.43%
Investment Objective: Seeks to provide high total
return from a portfolio of selected equity
securities.
LVIP JPMorgan U.S. Equity Fund - Class 1(1)
Sub-Advised by: J.P. Morgan Investment
Management Inc.
0.69%
27.16%
17.15%
12.44%
Investment Objective: Long-term growth of
capital.
Janus Henderson Enterprise Portfolio –
Service Shares
Advised by: Janus Henderson Investors US LLC
0.97%
17.78%
13.14%
11.82%
Investment Objective: Long-term growth of
capital.
Janus Henderson Global Research Portfolio –
Service Shares
Advised by: Janus Henderson Investors US LLC
0.86%
26.47%
13.05%
8.74%
Investment Objective: Seek total Return.
MFS® Total Return Series – Service Class
Advised by: MFS® Investment Management
0.95%
10.22%
8.27%
6.27%
Effective on or about May 1, 2023 JPMorgan Insurance Trust U.S. Equity Portfolio was merged into Lincoln Financial Variable Insurance Products Trust and was renamed LVIP JPMorgan U.S. Equity Fund.
14
PORTfolio companies available under the policy prior to 2003 — (Continued)
Effective open of business on September 17, 2012, the following Subaccounts are closed to new investments. 
Investment Objective
Underlying Fund Portfolio and
Adviser/Sub-adviser (1)
Current
Expenses
Platform
Charges
Current
Expenses
Plus
Platform
Charges
Average Annual
Total Returns
(as of 12/31/23)
1 year
5 years
10 years
Investment Objective: To maximize
income while maintaining prospects for
capital appreciation.
Franklin Income VIP Fund - Class 2
Advised by: Franklin Advisers, Inc.
0.71%
-
0.71%
8.62%
6.98%
5.01%
Investment Objective: Long-term capital
growth.
Templeton Foreign VIP Fund - Class 2
Advised by: Templeton Investment
Counsel LLC
1.09%
-
1.09%
20.76%
5.27%
1.28%
Investment Objective: Seeks capital
appreciation. Secondary goal is income.
Franklin Allocation VIP Fund - Class 4
Advised by: Franklin Templeton
Services, LLC
0.93%
0.15%
1.08%
14.61%
7.57%
4.75%
Investment Objective: Seek capital
appreciation.
MFS® New Discovery Series – Service
Class
Advised by: MFS® Investment
Management
1.19%
-
1.19%
14.25%
10.81%
7.41%
Effective December 12, 2011, the Invesco V.I. Value Opportunities Fund (Series II) was closed to new investments. Effective on or about August 18, 2017, the Invesco V.I. Value Opportunities Fund (Series II) fund was replaced with Transamerica Barrow Hanley Dividend Focused VP (Initial Class): 
Investment Objective
Underlying Fund Portfolio and
Adviser/Sub-adviser (1)
Current
Expenses
Average Annual
Total Returns
(as of 12/31/23)
1 year
5 years
10 years
Investment Objective: Seeks total return gained
from the combination of dividend yield, growth
of dividends and capital appreciation.
Transamerica Aegon Sustainable Equity Income
VP - Initial Class
Sub-Advised by: Aegon Asset Management UK
plc (“AAM”)
0.73%
6.28%
5.71%
5.39%
Effective on December 1, 2020 Transamerica Barrow Hanley Dividend Focused VP was renamed Transamerica Aegon Sustainable Equity Income.
15
The Prospectus and Statement of Additional Information (SAI) include additional information. The Prospectus and SAI which have the same effective date as this summary prospectus are incorporated by reference as amended or supplemented. The Prospectus and SAI are available without charge upon request. For a free copy call us at (800)525-6205 or write us at:
Transamerica Financial Life Insurance Company
6400 C Street S.W.
Cedar Rapids, IA 52499
Reports and other information about the Separate Account are available on the SEC’s website at sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.
EDGAR Contract Identifier No. is #C000017613