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 MARCH 23, 2004
                                     TO THE
                         PROSPECTUSES DATED MAY 1, 2003
                                       FOR
                        MERRILL LYNCH CONSULTS ANNUITY(SM)


        This supplement updates your prospectus for the Merrill Lynch Consults
Annuity(SM) issued through Merrill Lynch Life Variable Annuity Separate Account
C, or ML of New York Variable Annuity Separate Account C ("Separate Account C").

        Merrill Lynch Life Insurance Company and ML Life Insurance Company of
New York (each a "Company"; collectively the "Companies") have placed the
subaccount of their respective Separate Accounts (the "Subaccount") that invests
in shares of the Roszel/MLIM Relative Value Portfolio of MLIG Variable Insurance
Trust (the "MLIG Trust") "on hold". Accordingly, that Subaccount is not
available to individuals who purchase a Consults Variable Annuity Contract (the
"Consults Annuity") on or after March 16, 2004. Because you purchased your
Consults Annuity before that date, you will still be able to allocate purchase
payments and transfer contract value to the Subaccount. We want you to be aware
of this change and the reasons surrounding it.

        The subadviser for the Roszel/MLIM Relative Value Portfolio, Merrill
Lynch Investment Managers ("MLIM"), was placed "on hold" in the Merrill Lynch
Consults managed brokerage account program (the "Consults Program"). The
Companies seek to make available as investment options under the Consults
Annuity, subaccounts of Separate Account C that invest in Portfolios of the MLIG
Trust which are subadvised by investment managers that are part of the Consults
Program. Therefore, in order to keep the investment options under the Consults
Annuity aligned with the Consults Program, the Companies may stop making a
subaccount available as an investment option under the Consults Annuity if it
invests in a portfolio of the MLIG Trust whose subadviser is placed "on hold"
within the Consults Program. Subadvisers may be placed on hold for a variety of
reasons, including changes in key personnel, changes in investment process,
performance, or other factors. During any period that a manager is "on hold",
its investment team, process and performance are being evaluated.

        The Roszel/MLIM Relative Value Portfolio has been placed on hold because
of the resignation from MLIM of four key members of the portfolio management
team. Senior Portfolio Manager Ty Nutt and portfolio managers Robert Vogel, Jr.,
Anthony Lombardi, and Jordan Irving have chosen to leave MLIM to join another
investment management firm. A team led by Senior Portfolio Manager Joel
Heymsfeld is now responsible for the MLIM Relative





Value strategy. Current contributing Relative Value research analysts Richard
Franzen, Robert N. Moses, Jr., and Jacob L. Silady will support Mr. Heymsfeld.

        Several other subaccounts are currently unavailable as a result of prior
"holds":

        The Subaccount investing in the Roszel/Valenzuela Mid Cap Value
Portfolio was placed "on hold" on February 3, 2004 because of the departure of
Wendell Mackey, the portfolio manager who had day-to-day responsibility for the
Roszel/Valenzuela Mid Cap Value Portfolio. Mr. Mackey left Valenzuela Capital
Partners in mid-December, 2003 and Thomas Valenzuela, the firm's Chief
Investment Officer, took over Mr. Mackey's portfolio management responsibilities
at that time.

        On October 17, 2003, the Subaccount investing in the Roszel/Sound Large
Cap Core Portfolio was placed "on hold" because of changes in the investment
team and resulting alterations of the investment process. Robert Pyles, Chief
Investment Officer, was replaced by another member of the team, Robert Wylie.

        The Subaccount investing in the Roszel/Credit Suisse International
Portfolio was placed "on hold" on August 1, 2003 after the departure of lead
portfolio manager Vincent McBride and two other members of the international
investment team. Nancy Nierman, who was directly responsible for the
Roszel/Credit Suisse International Portfolio, now oversees the international
investment process.

        On June 18, 2003, the Subaccount investing in the Roszel/Levin Large Cap
Value Portfolio was placed "on hold" when Phil Friedman was named co-manager
alongside Jack Murphy, one of the portfolio's prior managers.

        The Companies will keep you informed of any change in the status of any
of these subadvisers.

                                      * * *

        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. Please retain this supplement
with your Consults Annuity prospectus for your reference.