Supplement Dated January 1, 1997 to Prospectus
Dated May 1, 1996
SCHWAB INVESTMENT ADVANTAGE(TM)
A Variable Annuity*
Distributed by
CHARLES SCHWAB & CO., INC.
Issued by
First Transamerica Life
Insurance Company
Charles Schwab & Co., Inc. ("Schwab") and First Transamerica Life
Insurance Company ("Transamerica") have agreed that, effective May 1, 1997,
Transamerica will assume full responsibility for all aspects of the distribution
and administration of the contracts described in the Prospectus ("Contracts").
Thus, as of that date, Schwab will not distribute or provide customer services
for the Contracts. Further, Transamerica will change the name of the Contracts
sometime after May 1.
Transamerica is currently reviewing future marketing plans for the
Contracts, including a new distributor. Subsequent revisions to the Prospectus
will provide detailed information of the changes.
Schwab will continue to service the Contracts until May 1 and
Transamerica will assume full responsibility for customer service after May 1.
* Group Certificate Form FTCG-101-193
