Updating Summary Prospectus (Form 497VPU)

 

special TERMS_____________________________________________________________________	1
summary of policy features that have changed_____________________________________	2
important INFORMATION you should consider about the policy_______________________	3
APPENDIX
investment options AVAILABLE UNDER THE POLICY__________________________________	7

special TERMS

Administrative Office - Transamerica Life Insurance Company, Attention: Customer Care Group, 6400 C Street SW, Cedar Rapids, IA 52499, (800)851-9777. All premium payments, loan repayments, correspondence and notices should be sent to this address.

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. This date may not be later than the last day of the Policy month following the month in which the Annuitant attains age 99 (earlier if required by state law).

Fixed Account - One or more Investment Options under the Policy that are part of our general assets and are not in the Separate Account.

Investment Option(s) - The Subaccounts and the Fixed Account.

Owner (You, Your) - The person who may exercise all rights and privileges under the Policy.

Policy - The WRL Freedom Premier® III Variable Annuity, an individual deferred, flexible premium variable annuity. Also referred to as the contract.

Policy Date - The date shown on the contract schedule 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:

Policy Year - A Policy Year begins on the Policy Date and on each anniversary thereafter.

Portfolio Company(ies) - The investment company(ies) made available as Investment Options under the Policy. Also referred to as underlying fund portfolios.

Separate Account Value - The portion of the Policy Value that is invested in the Separate Account.

Separate Account - Separate Account VA U, Separate Accounts established and registered as unit investment trusts under the Investment Company Act of 1940, as amended (the "1940 Act"), to which premium payments under the policies may be allocated.

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.

important INFORMATION you should consider about the policy 

	FEES AND EXPENSES			Location in Prospectus
Are There Charges for Early Withdrawal?	Yes. If You withdraw money during a specified number of years following each premium payment being withdrawn, You may be assessed a surrender charge. The surrender charge is assessed for 8 years with a maximum of 8.5%.For example, if You make an early withdrawal, You could pay a surrender charge on a $100,000 investment of up to $8,500.			Annuity Policy Fee Tables and Expense Examples Transaction Expenses - Surrender Charge Access to Your Money Surrenders
Are There Transaction Charges?	Yes. 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

APPENDIX

investment options 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 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/89358T214?site=VAVUL. You can also request this information at no cost by calling our Administrative Office at (800)851-9777.

investment options AVAILABLE UNDER THE POLICY - (Continued)

investment options AVAILABLE UNDER THE POLICY - (Continued)

investment options AVAILABLE UNDER THE POLICY - (Continued)

investment options AVAILABLE UNDER THE POLICY - (Continued)

investment options AVAILABLE UNDER THE POLICY - (Continued)

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.

Fixed Options

The following is a list of Fixed Options currently available under the Contract. We may change the features of the Fixed Options listed below, offer new Fixed Options, and terminate existing Fixed Options. We will provide you with written notice before doing so.

Depending on the optional benefits you choose, you may not be able to invest in certain Investment Options, as noted below.

Note: If amounts are withdrawn from a Fixed Option before the end of its term, we may apply a Contract Adjustment. This may result in a significant reduction in your Contract value.

investment options AVAILABLE UNDER THE POLICY - (Continued)

Fixed Account Guaranteed Minimum Interest Rate 

Name	Term	Minimum Guaranteed Interest Rate
Traditional DCA	Minimum: 6 months/4 quartersMaximum: 24 months/8 quarters	1.50%
1 Year Guaranteed Period Option	1 year	1.50%
3 Year Guaranteed Period Option	3 years	1.50%
5 Year Guaranteed Period Option	5 years	1.50%
7 Year Guaranteed Period Option	7 years	1.50%

CLOSED INVESTMENT OPTIONS:

Effective open of business September 17, 2012, the following Subaccount is 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 12/31/24)
					1 year	5 years	10 years
Capital appreciation with a secondary goal of income.	Franklin Allocation VIP Fund - Class 4 Advised by Franklin Templeton Services, LLC	0.95%	0.15%	1.10%	8.89%	5.45%	5.25%

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)851-9777 or write us at:

Transamerica 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: [email protected].