MERRILL LYNCH LIFE INSURANCE COMPANY MERRILL LYNCH LIFE VARIABLE ANNUITY SEPARATE ACCOUNT C SUPPLEMENT DATED OCTOBER 17, 2003 TO THE PROSPECTUS DATED MAY 1, 2003 FOR MERRILL LYNCH CONSULTS ANNUITY(SM) The subaccount investing in the Roszel/Sound Large Cap Core Portfolio is currently closed to allocations of premiums for Contracts issued on or after October 17, 2003. * * * If you have any questions, please contact your Financial Advisor, or call or write the Service Center at (800) 535-5549, P.O. Box 44222, Jacksonville, Florida 32231-4222. Please retain this supplement with your Contract prospectus for your reference.