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 APRIL 2, 2007 TO THE PROSPECTUSES DATED MAY 1, 2006 FOR MERRILL LYNCH CONSULTS ANNUITY(SM) This supplement updates the Prospectuses for the Merrill Lynch Consults Annuity(SM) (the "Consults Annuity") issued by Merrill Lynch Life Insurance Company or ML Life Insurance Company of New York. Please retain this supplement with your Consults Annuity Prospectus for your reference. Effective April 2, 2007, Roszel Advisors, LLC, the investment adviser for the MLIG Variable Insurance Trust (the "MLIG Trust"), changed the name and subadviser of one of the Portfolios described in your Contract prospectus. The Roszel/Franklin Mid Cap Growth Portfolio of the MLIG Trust is now subadvised by Cadence Capital Management LLC and has changed its name to the Roszel/Cadence Mid Cap Growth Portfolio. Accordingly, effective April 2, 2007, the name of the subaccount corresponding to the Roszel/Franklin Mid Cap Growth Portfolio changed from the Roszel/Franklin Mid Cap Growth Subaccount to the Roszel/Cadence Mid Cap Growth Subaccount. Therefore, generally all references to the Roszel/Franklin Mid Cap Growth Portfolio or Subaccount and Franklin Portfolio Advisors, Inc. in the prospectus and statement of additional information, as supplemented to date, are references to the Roszel/Cadence Mid Cap Growth Portfolio or Subaccount, and Cadence Capital Management LLC, respectively. The investment objective and asset class/investment style for this Portfolio have not changed. * * * If you have any questions, please contact your Financial Advisor, or call the Service Center at (800) 535-5549 (for Consults Annuities issued by Merrill Lynch Life Insurance Company) or (800) 333-6524 (for Consults Annuities issued by ML Life Insurance Company of New York), or write the Service Center at P.O. Box 44222, Jacksonville, Florida 32231-4222. 101872-0307