MERRILL LYNCH LIFE INSURANCE COMPANY
MERRILL LYNCH LIFE VARIABLE ANNUITY SEPARATE ACCOUNT C
ML LIFE INSURANCE COMPANY OF NEW YORK
ML OF NEW YORK VARIABLE ANNUITY SEPARATE ACCOUNT C
SUPPLEMENT DATED SEPTEMBER 29, 2006
TO THE
PROSPECTUSES DATED MAY 1, 2006
FOR
MERRILL LYNCH CONSULTS ANNUITY(SM)
This supplement describes a change to the investment adviser or subadviser and
to the names of certain funds available under the variable annuity contracts
listed above (the "Contracts") issued by Merrill Lynch Life Insurance Company or
ML Life Insurance Company of New York. Please retain this supplement with your
Prospectus for future reference.
Effective on October 2, 2006, the names of the funds listed below will change.
In addition, the investment adviser for the BlackRock Money Market V.I. Fund
(formerly, Mercury Domestic Money Market V.I. Fund) is changed from Merrill
Lynch Investment Managers, L.P. to BlackRock Advisors, LLC and the subadviser
for the BlackRock Fixed-Income Portfolio (formerly, Roszel/MLIM Fixed-Income
Portfolio) and the Roszel/BlackRock Relative Value Portfolio (formerly,
Roszel/MLIM Relative Value Portfolio) is changed from Merrill Lynch Investment
Managers, L.P. to BlackRock Investment Management, LLC. In addition, each fund
listed below is sub-advised by one of the BlackRock affiliates listed below. The
investment objectives of these Funds remain unchanged.
INVESTMENT
PREVIOUS NAME NEW NAME ADVISER(S)/SUBADVISER(S)
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FAM VARIABLE SERIES FUNDS, INC. BLACKROCK VARIABLE SERIES FUNDS, INC.
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Mercury Domestic Money BlackRock Money Market V.I. BlackRock Advisors, LLC/
Market V.I. Fund Fund BlackRock Institutional
Management Corporation
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MLIG VARIABLE INSURANCE TRUST MLIG VARIABLE INSURANCE TRUST
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Roszel/MLIM Fixed-Income Roszel/BlackRock Fixed- Roszel Advisors,
Portfolio Income Portfolio LLC/BlackRock Investment
Management, LLC
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Roszel/MLIM Relative Value Roszel/BlackRock Relative Roszel Advisors, LLC/
Portfolio Value Portfolio BlackRock Investment
Management, LLC
Merrill Lynch owns approximately 49% of BlackRock, Inc. whose affiliate
companies (collectively, "BlackRock") manage BlackRock mutual funds and other
asset management products and services. Because BlackRock is an affiliate of
Merrill Lynch, management and employees of BlackRock may be provided a level of
access to Merrill Lynch and related information that is not available to
affiliates of funds sponsored, managed, or distributed by other
Code: 101760-0906
asset management companies. Such access and information may include, but are not
limited to: the ability to meet with Merrill Lynch Financial Advisors with
greater frequency; participation in or access to Merrill Lynch management and
Financial Advisor strategy and sales meetings, educational and recreational
events, and communications media; and featured placement in Merrill Lynch
internal and external websites, workstations and other marketing and sales
tools, strategies, and materials.
Merrill Lynch may receive more economic benefits with respect to funds
sponsored, managed and/or distributed by companies such as BlackRock in which
Merrill Lynch has an economic interest as those companies receive compensation
for providing investment advisory, administrative, transfer agency, distribution
or other services to such funds.
* * *
If you have any questions, please contact your Financial Advisor, or call the
Service Center at (800) 535-5549 for Contracts issued by Merrill Lynch Life
Insurance Company or (800) 333-6524 for Contracts issued by ML Life Insurance
Company of New York, or write the Service Center at P.O. Box 44222,
Jacksonville, Florida 32231-4222.