Nyliac Variable Annuity Separate Account III
04/16/2024 | Press release | Distributed by Public on 04/16/2024 08:57
Updating Summary Prospectus - Form 497VPU
NYLIAC VARIABLE ANNUITY SEPARATE ACCOUNT III
Separate Account IV EDGAR contract identifier #C000193958
UPDATING SUMMARY PROSPECTUS FOR EXISTING INVESTORS
May 1, 2024
New York Life Premier Variable Annuity- FP Series
From
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
Issued through
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
Issued through
NYLIAC Variable Annuity Separate Account-III
NYLIAC Variable Annuity Separate Account-IV
NYLIAC Variable Annuity Separate Account-IV
This summary prospectus summarizes key features of the New York Life Premier Variable Annuity- FP Series policies.
Before you invest, you should review the prospectus for the New York Life Premier Variable Annuity- FP Series policies, which contains more information about the policy's features, benefits, and risks. You can find this document and other information about the contract online at https://dfinview.com/NewYorkLife/TAHD/premier-fpseries. You can also obtain this information at no cost by calling our New York Life Annuities Service Center at 1-800-762-6212 or by sending an email request with your name and mailing address to [email protected].
You can sign up for electronic delivery of your summary prospectus, updates to the summary prospectus or other communications by logging into your account at www.newyorklifeannuities.com. If you sign up for electronic delivery, we will apply a one-time $30 e-delivery credit to your Accumulation Value in accordance with your allocation instructions in the Policy Year in which you register.
Additional information about certain investment products, including variable annuities, has been prepared by the SEC's staff and is available at www.Investor.gov. The Securities and Exchange Commission ("SEC") has not approved or disapproved of this security or passed upon the accuracy or adequacy of this summary prospectus. Any representation to the contrary is a criminal offense. The policies involve risks, including potential loss of principal invested. Policies are not deposits of, or guaranteed or endorsed by, any bank and are not federally insured by the FDIC, Federal Reserve Board, or any other agency.
Table of Contents
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Page
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Contacting NYLIAC
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1
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Definitions
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2
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Updated Information About Your Policy
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4
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Important Information You Should Consider About The Policy
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5
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Appendix 1A
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1A
-1
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Appendix 1B
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1B
-1
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Appendix 1C
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1C
-1
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i
Contacting NYLIAC
Certain service requests, including but not limited to, death benefit claims and surrenders, are required to be in writing.
All written service requests must be sent to the New York Life Annuities Service Center at one of the following addresses:
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Regular Mail
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Express Mail
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All written service
requests (except for
payments)
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NYL Annuities - TPD
Mail Code7390
P.O. Box 7247
Philadelphia, PA 19170-7390
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NYL Annuities - TPD
400 White Clay Center Drive
Attn: LOCKBOX #7390
Newark, DE 19711
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Premium payments should be sent to the New York Life Annuities Service Center at one of the following addresses (acceptance of subsequent premium payments is subject to the sales standards we use to evaluate whether a recommended transaction related to your policy complies with applicable standards of conduct):
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Regular Mail
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Express Mail
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Premium Payments
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NYL Annuities - TPD
Mail Code 7390
P.O. Box 7247
Philadelphia, PA 19170-7390
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NYL Annuities - TPD
400 White Clay Center Drive
Attn: LOCKBOX #7390
Newark, DE 19711
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Written service requests will be effective as of the Business Day they are received in Good Order at our service center at one of the addresses listed above. We consider a transaction to be in "Good Order" if it complies with our administrative procedures and all relevant laws and regulations, and the required information is complete and correct. Good Order means the actual receipt by us of instructions relating to the requested transaction in writing (or, if permitted, by telephone or electronically), along with all forms and other information or documentation necessary to complete the request. Faxed and e-mailed requests are not currently accepted.
1
Definitions
Accumulation Unit-An accounting unit we use to calculate the Variable Accumulation Value prior to the Annuity Commencement Date. Each Investment Division of the Separate Account has a distinct variable Accumulation Unitvalue.
Accumulation Value-The sum of the Variable Accumulation Value, the Fixed Account Accumulation Value (if applicable), and the DCA Advantage Account Accumulation Value of a policy.
Business Day-Generally, any day on which the New York Stock Exchange (NYSE) is open for trading. Our Business Day ends at 4:00 p.m. Eastern Time or the close of regular trading of the NYSE, if earlier.
Dollar Cost Averaging (DCA) Advantage Account Accumulation Value-The sum of premium payments allocated to the DCA Advantage Account, plus interest credited on those premium payments, less any transfers and partial withdrawals from the DCA Advantage Account, and less any surrender charges, policy service charges and rider charges deducted from the DCA Advantage Account. The DCA Advantage Account Accumulation Value will never be less than the DCA Advantage Account portion of the Nonforfeiture Value.
Dollar Cost Averaging (DCA) Advantage Account- An Allocation Option that permits dollar cost averaging over a six-month period and pays interest on amounts remaining in the account. Amounts are transferred from the DCA Advantage Account to the Investment Division(s) you choose proportionally on a monthly basis. We credit the DCA Advantage Account with a fixed interest rate. The benefits payable under the DCA Advantage Account (including principal and interest) are payable from NYLIAC's general account and are subject to the claims-paying ability of NYLIAC.
Fixed Account-An account that is credited with a fixed interest rate which NYLIAC declares and is not part of the Separate Account. The benefits payable under the Fixed Account (including principal and interest) are payable from NYLIAC's general account and are subject to the claims-paying ability of NYLIAC.
Fixed Account Accumulation Value-The sum of premium payments and , if allowable, transfers allocated to the Fixed Account, plus interest credited on those premium payments and, if allowable, transfers, less any transfers and partial withdrawals from the Fixed Account, and less any surrender charges, policy service charges and rider charges assessed on and deducted from the Fixed Account. The Fixed Account Accumulation Value will never be less than the Fixed Account portion of the Nonforfeiture Value.
Investment Division-The variable investment options available under the policy. Each Investment Division invests exclusively in shares of a specified Portfolio.
NYLIAC, we, our or us-New York Life Insurance and Annuity Corporation.
Owner (you, your) -The individual(s) or entity(ies) designated as the Owner in the policy, or as subsequently changed after issue, who is entitled to exercise all rights under the policy.
Policy Anniversary-An anniversary of the Policy Date shown on the Policy Data Page.
Policy Year-A year starting on the Policy Date. Subsequent Policy Years begin on each Policy Anniversary, unless otherwise indicated.
Portfolios -The mutual fund portfolios in which the corresponding Investment Divisions invest.
Separate Account-NYLIAC Variable Annuity Separate Account-III or NYLIAC Variable Annuity Separate Account-IV, each a segregated asset account we established to receive and invest premium payments paid under the policies. The Separate Account's Investment Divisions, in turn, purchase shares of Portfolios.
Surrender Charge Free Amount-You may withdraw a certain amount from your policy each Policy Year without having to pay a surrender charge on that amount. We call this the Surrender Charge Free Amount. The maximum amount you may withdraw without a surrender charge in any given Policy Year is the greatest of either (i) 10% of your Accumulation Value as of your last Policy Anniversary (10% of your premium payments if the withdrawal is made in the first Policy Year), less any prior surrender charge free withdrawals you have already taken in that Policy Year; (ii) 10% of your Accumulation Value at the time of the withdrawal, less any prior surrender charge free withdrawals you have already taken in that Policy Year; or (iii) your Accumulation Value less your accumulated premium payments.
2
Surrender Charge Period-The period of time during which a partial withdrawal or surrender could be subject to a surrender charge. Each premium payment you make will have its own Surrender Charge Period applicable to that payment.
Variable Accumulation Value-The sum of the current Accumulation Unit value(s) for each of the Investment Divisions multiplied by the number of Accumulation Units held in the respective Investment Division.
3
Updated Information About Your Policy
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The Information in this Updating Summary Prospectus is a summary of certain policy features that have
changed since May 1, 2023. This may not reflect all changes that have occurred since you purchased your
policy.
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The following Portfolios
are added as available
Investment Divisions
under the policy including
with any of the Investment
Preservation Riders
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American Funds IS Capital World Bond Fund®-Class 4
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American Funds IS U.S. Government Securities Fund®-Class 4
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Fidelity® VIP Extended Market Index Portfolio-Service Class 2
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PIMCO VIT Short-Term Portfolio-Advisor Class
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Principal VC Real Estate Securities Account-Class 2
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Putnam VT International Value Fund-Class IB
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Voya Growth and Income Portfolio-Class S
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The names of the
following Portfolios have
been changed:
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MainStay VP Hedge Multi-Strategy (formerly known as MainStay VP IQ Hedge
Multi-Strategy)
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Mainstay VP MacKay U.S. Infrastructure Bond (formerly known as MainStay VP
MacKay Government)
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MainStay VP PineStone International Equity (formerly known as MainStay VP
MacKay International Equity)
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Macquarie VIP Small Cap Value Series (formerly known as Delaware VIP® Small
Cap Value Series)
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Portfolio Performance and
Expenses
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For updated Portfolio performance and expense information, see the Appendix for the
Portfolios Available Under the Policy.
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4
Important Information You Should Consider About The Policy
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FEES AND EXPENSES
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LOCATION IN
PROSPECTUS
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Charges for Early
Withdrawal
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If you withdraw more than the Surrender Charge Free Amount within 7
years following your last premium payment, you will be assessed a
surrender charge. The maximum surrender charge is 8% of the amount
withdrawn during the first Payment Year declining to 0% over that
seven-year period. For example, if you make an early withdrawal within
the first Payment Year, you could pay a surrender charge of up to
$8,000 on a $100,000 investment.
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CHARGES AND
DEDUCTIONS -
Transaction
Expenses -
Surrender Charges
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Transaction
Charges
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We reserve the right to assess a transaction charge if you transfer cash
value between investment options more than 12 times a year, or if a
premium payment is returned for insufficient funds. Although we do not
currently charge for such transactions, we reserve the right to charge
up to $30 per transaction.
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CHARGES AND
DEDUCTIONS -
Transaction
Expenses
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Ongoing Fees
and Expenses
(annual charges)
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The table below describes the fees and expenses that you may pay
each year, depending on the options you choose. Please refer to your
Policy Data Page for information about the specific fees you will pay
each year based on the options you have elected.
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CHARGES AND
DEDUCTIONS -
Annual Policy
Expenses; Annual
Portfolio Expenses;
Optional Benefit
Expenses
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ANNUAL FEE
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MINIMUM
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MAXIMUM
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Base contract1
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1.00%
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1.30%
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CHARGES AND
DEDUCTIONS -
Annual Policy
Expenses
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Investment options (Portfolio fees
and expenses)2
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0.38%
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1.42%
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CHARGES AND
DEDUCTIONS -
Annual Portfolio
Expenses
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Optional benefits available for an
additional charge (for a single
optional benefit, if elected)3
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0.25%
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1.15%
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CHARGES AND
DEDUCTIONS -
Optional Benefit
Expenses
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1 As a percentage of Accumulation Value (Minimum Base Contract
Charge) and as a percentage of Adjusted Premium Payments
(Maximum Base Contract Charge).
2 As a percentage of average net Portfolio assets. The range in fees
and expenses is for the year ended December 31, 2023 and will
change from year to year.
3 The minimum fee reflects the current charge for the Annual Death
Benefit Rider, as an annualized percentage of the amount guaranteed
under the rider. The maximum fee reflects the current charge for the
Investment Preservation Rider - FP Series (10-year holding period), as
an annualized percentage of the amount that is guaranteed under the
rider.
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5
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Because your policy is customizable, the choices you make affect how
much you will pay. To help you understand the cost of owning your
policy, the following table shows the lowest and highest cost you could
pay eachyear, based on current charges. This estimate assumes that
you do not take withdrawals from the policy, which could add
surrender charges that substantially increase costs.
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LOWEST ANNUAL COST:
$1,420.17
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HIGHEST ANNUAL COST
$3,246.62
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Assumes:
•Investment of $100,000
•5% annual appreciation
•Least expensive combination of
Base Contract Charges and
Portfolio fees and expenses
•No optional benefits
•No sales charges
•No additional purchase
payments, transfers or
withdrawals
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Assumes:
•Investment of $100,000
•5% annual appreciation
•Most expensive combination of
Base Contract Charges,
optional benefits, and Portfolio
fees and expenses
•No sales charges
•No additional purchase
payments, transfers or
withdrawals
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RISKS
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LOCATION IN
PROSPECTUS
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Risk of Loss
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You can lose money by investing in this policy.
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PRINCIPAL RISKS
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Not a Short-Term
Investment
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This policy is not designed for short-term investing and is not
appropriate for an investor who readily needs access to cash.
Surrender charges apply for up to 7 years following your last premium
payment. They will reduce the value of your policy if you withdraw
money during that time. The benefits of tax deferral and living benefit
protections also mean the policy is more beneficial to investors with a
long time horizon. If you elect the Investment Preservation Rider - FP
Series, you will not receive a benefit under the rider unless you hold the
policy for at least the specified Holding Period applicable to the rider.
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PRINCIPAL RISKS
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Risks Associated
with Investment
Options
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•An investment in this policy is subject to the risk of poor investment
performance and can vary depending on the performance of the
variable investment options (e.g., Portfolios) and guaranteed options
(e.g., the Fixed Account and DCA Advantage Account) you choose.
•Each investment option has its own unique risks.
•You should review the prospectuses for the available Portfolios and
the description in this prospectus of the Fixed Account and the DCA
Advantage Account before making an investment decision.
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PRINCIPAL RISKS
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Insurance
Company
Risks
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An investment in the policy is subject to the risks related to NYLIAC,
including that any obligations, guarantees, and benefits of the policy
are subject to the claims-paying ability of NYLIAC. If NYLIAC
experiences financial distress, it may not be able to meet its obligations
to you. More information about NYLIAC is available upon request from
NYLIAC by calling the New York Life Annuities Service Center at
800-762-6212.
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PRINCIPAL RISKS
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6
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RESTRICTIONS
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LOCATION IN
PROSPECTUS
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Investments
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•We limit the number of Investment Divisions you may choose. You
may allocate premium payments to up to 18 separate Investment
Divisions, plus the Fixed Account, some of which may not be
available under your policy.
•We reserve the right to charge $30 for each transfer when you
transfer money between Investment Divisions in excess of 12 times in
a Policy Year.
•We reserve the right to limit transfers in circumstances of frequent
transfers or to prevent market timing.
•We reserve the right to remove, close, or substitute Portfolios as
investment options that are available under the policy.
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THE
POLICIES-Policy
Application and
Premium Payments,
Transfers, and
Limits on Transfers
NYLIAC AND THE
SEPARATE
ACCOUNTS-
Additions,
Deletions, or
Substitutions of
Investments
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Optional Benefits
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•Certain optional benefits limit or restrict the investment options you
may select under the policy. We may change these restrictions in the
future.
•Certain optional benefits may limit withdrawals or other rights under
the policy.
•Under certain benefits, a withdrawal could reduce the value of a
benefit by more than the dollar amount of the withdrawal.
•You are required to have a minimum Accumulation Value for some
optional benefits.
•We may modify or discontinue an optional benefit at any time.
•Some optional benefits cannot be cancelled without surrendering
your policy.
•The amount of death benefit available under certain optional benefits
may vary depending on the date of death. Certain optional benefits
may offer a lesser death benefit at issue and require that the policy
be held for a minimum waiting period before the greater death benefit
will be payable. If you die before the end of the minimum waiting
period, the death benefit will be less than the greater death benefit
available after the minimum waiting period. Additionally, where there
is a reset of certain optional benefit riders, a new minimum waiting
period will be required before the greater death benefit will be
payable. If you die before the end of the new minimum waiting
period, the death benefit may be less than the greater death benefit
available after the new minimum waiting period.
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DESCRIPTION OF
BENEFITS
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TAXES
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LOCATION IN
PROSPECTUS
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Tax
Implications
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•Consult with a tax professional to determine the tax implications of
an investment in, withdrawals from and surrenders of this policy.
•If you purchase the policy through a tax-qualified plan or individual
retirement account (IRA), such plan or IRA already provides tax
deferral under the Code and there are fees and charges in an annuity
that may not be included in such other investments. Therefore, the
tax deferral of the annuity does not provide additional benefits.
•Premiums that are made on a pre-tax basis as well as earnings on
your policy are taxed at ordinary income tax rates when you withdraw
them, and you may have to pay a 10% penalty tax if you take a
withdrawal before age 59½.
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FEDERAL TAX
MATTERS
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7
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CONFLICTS OF INTEREST
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LOCATION IN
PROSPECTUS
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Investment
Professional
Compensation
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Your registered representative may receive compensation for selling
this policy to you, in the form of commissions, asset-based
compensation, allowances for expenses, and other compensation
programs. The amount of compensation will vary depending on the
specific payment arrangements of the broker-dealer for whom your
registered representative works. This compensation may differ from the
compensation paid by other companies for sales of their products.
Differences in compensation have the potential to influence the
recommendation made by your registered representative or
broker-dealer. Your registered representative may have a financial
incentive to offer or recommend this policy over another investment.
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DISTRIBUTION AND
COMPENSATION
ARRANGEMENTS
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Exchanges
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Your registered representative may have a financial incentive to offer
you a new policy in place of the one you own. You should consider
exchanging your policy if you determine, after comparing the features,
fees, and risks of both policies, that it is in your best interest to
purchase the new policy rather than continue to own your existing
policy.
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THE POLICIES -
Tax-Free
Section 1035
Exchanges
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8
Appendix 1A
Portfolios Available Under the Policy
The following is a list of Portfolios available under the policy, which is subject to change, as discussed in the prospectus. Depending on the optional benefits you choose, you may not be able to invest in certain Portfolios. You can find the prospectuses and other information about the Portfolios online at https://dfinview.com/NewYorkLife/TAHD/premier-fpseries. You can also request this information at no cost by calling the New York Life Annuities Service Center at 800-762-6212 or by sending an email request with your name and mailing address to [email protected].
You may allocate your premium payments or other Accumulation Value to up to 18 different Investment Divisions at any one time in addition to the Fixed Account or the DCA Advantage Account.
The current expenses and performance information below reflects fees and expenses of the Portfolios but does not reflect the other fees and expenses that your policy may charge. Expenses would be higher and performance would be lower if these charges were included. Each Portfolio's past performance is not necessarily an indication of future performance.
If you purchased the Investment Preservation Rider, you may not be able to invest in certain Portfolios. Your available Allocation Options are listed in APPENDIX 1B.
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Type
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Portfolio
Adviser/Sub-adviser
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Current
Expenses*
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Average Annual Total Returns
(as of 12/31/23)
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1 year
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5 year
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10 year
|
|||
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Large Cap Equity
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MainStay VP American Century Sustainable
Equity - Service Class
Adviser: New York Life Investment
Management LLC ("New York Life Investments") /
Subadviser: American Century Investment
Management Inc.
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0.92%
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24.08%
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12.66%
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8.46%
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Asset Allocation
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MainStay VP Balanced - Service Class
Adviser: New York Life Investments / Subadviser:
NYL Investors LLC ("NYL Investors") and
Wellington Management Company LLP
("Wellington")
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0.95%
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7.28%
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8.15%
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5.90%
|
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Investment
Grade Bond
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MainStay VP Bond - Service Class
Adviser: New York Life Investments / Subadviser:
NYL Investors
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0.77%
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5.31%
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0.71%
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1.45%
|
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Sector
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MainStay VP CBRE Global Infrastructure -
Service Class
Adviser: New York Life Investments / Subadviser:
CBRE Investment Management Listed Real Assets
LLC
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1.20%
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3.80%
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0.46%
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(2.84)%
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Asset Allocation
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MainStay VP Conservative Allocation - Service
Class
Adviser: New York Life Investments
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0.73%
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10.02%
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5.38%
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3.82%
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Appendix 1A-1
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Type
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Portfolio
Adviser/Sub-adviser
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Current
Expenses*
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Average Annual Total Returns
(as of 12/31/23)
|
||
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1 year
|
5 year
|
10 year
|
|||
|
Large Cap Equity
|
MainStay VP Epoch U.S. Equity Yield - Service
Class
Adviser: New York Life Investments / Subadviser:
Epoch Investment Partners, Inc. ("Epoch")
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0.93%
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8.42%
|
9.82%
|
6.91%
|
|
Asset Allocation
|
MainStay VP Equity Allocation - Service Class
Adviser: New York Life Investments
|
0.86%
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17.10%
|
10.45%
|
6.62%
|
|
Sector
|
MainStay VP Fidelity Institutional AM® Utilities -
Service Class
Adviser: New York Life Investments / Subadviser:
FIAM LLC ("FIAM")
|
0.92%
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(1.71)%
|
8.14%
|
6.15%
|
|
Non-Investment
Grade Bond
|
MainStay VP Floating Rate - Service Class
Adviser: New York Life Investments / Subadviser:
NYL Investors
|
0.89%
|
11.58%
|
4.69%
|
3.54%
|
|
Asset Allocation
|
MainStay VP Growth Allocation - Service Class
Adviser: New York Life Investments
|
0.82%
|
15.20%
|
9.20%
|
5.96%
|
|
Alternatives
|
MainStay VP Hedge Multi-Strategy (formerly
MainStay VP IQ Hedge Multi-Strategy) - Service
Class
Adviser: New York Life Investments / Subadviser:
IndexIQ Advisors LLC ("IndexIQ")
|
1.32%
|
9.98%
|
2.53%
|
(1.67)%
|
|
Asset Allocation
|
MainStay VP Income Builder - Service Class
Adviser: New York Life Investments / Subadvisers:
Epoch and MacKay Shields LLC ("MacKay")
|
0.87%
|
9.78%
|
5.78%
|
4.75%
|
|
Asset Allocation
|
MainStay VP Janus Henderson Balanced -
Service Class
Adviser: New York Life Investments / Subadviser:
Janus Henderson Investors US LLC ("Janus
Henderson")
|
0.82%
|
15.23%
|
9.48%
|
7.78%
|
|
Non-Investment
Grade Bond
|
MainStay VP MacKay Convertible - Service
Class
Adviser: New York Life Investments/ Subadviser:
MacKay
|
0.83%
|
8.58%
|
11.31%
|
8.23%
|
|
Non-Investment
Grade Bond
|
MainStay VP MacKay High Yield Corporate
Bond - Service Class
Adviser: New York Life Investments / Subadviser:
MacKay
|
0.83%
|
11.59%
|
5.04%
|
4.47%
|
Appendix 1A-2
|
Type
|
Portfolio
Adviser/Sub-adviser
|
Current
Expenses*
|
Average Annual Total Returns
(as of 12/31/23)
|
||
|
1 year
|
5 year
|
10 year
|
|||
|
Non-Investment
Grade Bond
|
MainStay VP MacKay Strategic Bond - Service
Class
Adviser: New York Life Investments / Subadviser:
MacKay
|
0.87%
|
9.92%
|
3.18%
|
2.49%
|
|
Investment
Grade Bond
|
MainStay VP MacKay U.S. Infrastructure Bond
(formerly MainStay VP MacKay Government) -
Service Class
Adviser: New York Life Investments / Subadviser:
MacKay
|
0.81%
|
4.74%
|
0.05%
|
0.72%
|
|
Asset Allocation
|
MainStay VP Moderate Allocation - Service
Class
Adviser: New York Life Investments
|
0.76%
|
12.73%
|
7.20%
|
4.90%
|
|
Sector
|
MainStay VP Natural Resources - Initial Class
Adviser: New York Life Investments / Subadviser:
Newton Investment Management North America,
LLC ("NIMNA")
|
0.84%
|
1.92%
|
18.96%
|
2.79%
|
|
Investment
Grade Bond
|
MainStay VP PIMCO Real Return - Service
Class
Adviser: New York Life Investments / Subadviser:
Pacific Investment Management Company LLC
("PIMCO")
|
1.03%
|
3.46%
|
3.08%
|
2.01%
|
|
International/
Global
Equity
|
MainStay VP PineStone International Equity
(formerly MainStay VP MacKay International
Equity) - Service Class
Adviser: New York Life Investments / Subadviser:
PineStone Asset Management Inc.
|
1.11%
|
4.01%
|
5.10%
|
3.85%
|
|
Large Cap Equity
|
MainStay VP S&P 500 Index - Service Class
Adviser: New York Life Investments / Subadviser:
IndexIQ
|
0.37%
|
25.83%
|
15.25%
|
11.53%
|
|
Small/Mid Cap
Equity
|
MainStay VP Small Cap Growth - Service Class
Adviser: New York Life Investments / Subadvisers:
Brown Advisory, LLC and Segall Bryant & Hamill,
LLC
|
1.10%
|
15.22%
|
10.29%
|
7.26%
|
|
Money Market
|
MainStay VP U.S. Government Money Market -
Initial Class
Adviser: New York Life Investments]
/ Subadviser: NYL Investors
|
0.28%
|
4.81%
|
1.61%
|
0.99%
|
Appendix 1A-3
|
Type
|
Portfolio
Adviser/Sub-adviser
|
Current
Expenses*
|
Average Annual Total Returns
(as of 12/31/23)
|
||
|
1 year
|
5 year
|
10 year
|
|||
|
Small/Mid Cap
Equity
|
MainStay VP Wellington Mid Cap - Service Class
Adviser: New York Life Investments / Subadviser:
Wellington
|
1.11%
|
13.41%
|
7.93%
|
6.39%
|
|
Small/Mid Cap
Equity
|
MainStay VP Wellington Small Cap - Service
Class
Adviser: New York Life Investments/ Subadviser:
Wellington
|
0.99%
|
13.60%
|
6.42%
|
5.99%
|
|
Large Cap Equity
|
MainStay VP Wellington U.S. Equity - Service
Class
Adviser: New York Life Investments / Subadviser:
Wellington
|
0.81%
|
24.27%
|
12.88%
|
10.19%
|
|
Large Cap Equity
|
MainStay VP Winslow Large Cap Growth -
Service Class
Adviser: New York Life Investments
/ Subadviser: Winslow Capital Management, LLC
|
0.99%
|
42.70%
|
17.29%
|
13.18%
|
|
Large Cap Equity
|
AB VPS Relative Value Portfolio - Class B
Adviser: AllianceBernstein L.P.
|
0.86%
|
11.72%
|
11.57%
|
9.05%
|
|
Asset Allocation
|
American Funds IS Asset Allocation Fund - Class
4
Adviser: Capital Research and Management
CompanySM ("CRMC")
|
0.80%
|
14.02%
|
8.92%
|
6.98%
|
|
Investment
Grade Bond
|
American Funds IS The Bond Fund of America®
- Class 4
Adviser: CRMC
|
0.73%
|
4.72%
|
1.62%
|
1.83%
|
|
Investment
Grade Bond
|
American Funds IS Capital World Bond Fund® -
Class 4
Adviser: CRMC
|
0.98%
|
5.89%
|
(0.56)%
|
0.12%
|
|
International/
Global
Equity
|
American Funds IS Global Small Capitalization
Fund - Class 4
Adviser: CRMC
|
1.16%
|
15.79%
|
8.03%
|
5.51%
|
|
Large Cap Equity
|
American Funds IS Growth Fund - Class 4
Adviser: CRMC
|
0.84%
|
38.13%
|
18.38%
|
14.07%
|
|
International/
Global
Equity
|
American Funds IS New World Fund® - Class 4
Adviser: CRMC
|
1.07%
|
15.67%
|
8.37%
|
4.43%
|
Appendix 1A-4
|
Type
|
Portfolio
Adviser/Sub-adviser
|
Current
Expenses*
|
Average Annual Total Returns
(as of 12/31/23)
|
||
|
1 year
|
5 year
|
10 year
|
|||
|
Investment
Grade Bond
|
American Funds IS U.S. Government Securities
Fund® - Class 4
Adviser: CRMC
|
0.76%
|
2.62%
|
0.79%
|
1.27%
|
|
Large Cap Equity
|
American Funds IS Washington Mutual Investors
FundSM - Class 4
Adviser: CRMC
|
0.77%
|
16.97%
|
12.33%
|
9.64%
|
|
Asset Allocation
|
BlackRock® Global Allocation V.I. Fund - Class III
Adviser: BlackRock Advisors, LLC ("BlackRock") /
Subadvisers: BlackRock (Singapore) Limited and
BlackRock International Limited
|
1.02%
|
12.49%
|
7.39%
|
4.63%
|
|
Non-Investment
Grade Bond
|
BlackRock® High Yield V.I. Fund - Class III
Adviser: BlackRock / Subadviser: BlackRock
International Limited
|
0.79%
|
12.94%
|
5.49%
|
4.21%
|
|
Sector
|
BNY Mellon IP Technology Growth Portfolio -
Service Shares
Adviser: BNY Mellon Investment Adviser, Inc. /
Subadviser: NIMNA
|
1.03%
|
59.00%
|
15.31%
|
12.94%
|
|
Large Cap Equity
|
BNY Mellon Sustainable U.S. Equity Portfolio -
Service Shares
Adviser: BNY Mellon Investment Adviser, Inc. /
Subadviser: Newton Investment Management
Limited
|
0.92%
|
23.50%
|
14.85%
|
10.18%
|
|
Large Cap Equity
|
ClearBridge Variable Appreciation Portfolio -
Class II
Adviser: Franklin Templeton Fund Adviser, LLC
("FTFA") / Subadviser: ClearBridge Investments,
LLC
|
0.97%
|
19.39%
|
13.79%
|
N/A
|
|
Sector
|
Columbia Variable Portfolio - Commodity
Strategy Fund - Class 2+
Adviser: Columbia Management Investment
Advisers, LLC ("Columbia")] / Subadviser:
Threadneedle International Limited
|
1.01%
|
(7.14)%
|
9.08%
|
(0.97)%
|
|
Non-Investment
Grade Bond
|
Columbia Variable Portfolio - Emerging Markets
Bond Fund - Class 2
Adviser: Columbia
|
1.00%
|
10.02%
|
1.57%
|
2.20%
|
|
Investment
Grade Bond
|
Columbia Variable Portfolio - Intermediate Bond
Fund - Class 2
Adviser: Columbia
|
0.76%
|
5.96%
|
1.34%
|
1.99%
|
Appendix 1A-5
|
Type
|
Portfolio
Adviser/Sub-adviser
|
Current
Expenses*
|
Average Annual Total Returns
(as of 12/31/23)
|
||
|
1 year
|
5 year
|
10 year
|
|||
|
Small/Mid Cap
Equity
|
Columbia Variable Portfolio - Small Cap Value
Fund - Class 2
Adviser: Columbia
|
1.11%
|
21.67%
|
13.39%
|
8.40%
|
|
Alternatives
|
DWS Alternative Asset Allocation VIP - Class B
Adviser: DWS Investment Management Americas
Inc. / Subadviser: RREEF America LLC
|
1.21%
|
5.67%
|
5.70%
|
2.63%
|
|
Investment
Grade Bond
|
Fidelity® VIP Bond Index Portfolio - Service Class
2
Adviser: Fidelity Management & Research
Company LLC ("FMR") / Subadvisers: Other
investment advisers
|
0.39%
|
5.13%
|
0.64%
|
N/A
|
|
Large Cap Equity
|
Fidelity® VIP ContrafundSM Portfolio - Service
Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
|
0.81%
|
33.12%
|
16.36%
|
11.33%
|
|
International/
Global
Equity
|
Fidelity® VIP Emerging Markets Portfolio -
Service Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
|
1.14%
|
9.49%
|
7.55%
|
4.92%
|
|
Large Cap Equity
|
Fidelity® VIP Equity-Income PortfolioSM - Service
Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
|
0.72%
|
10.38%
|
12.01%
|
8.31%
|
|
Small/Mid Cap
Equity
|
Fidelity® VIP Extended Market Index Portfolio -
Service Class 2
Adviser: FMR / Subadviser: Geode Capital
Management, LLC ("Geode")
|
0.38%
|
17.11%
|
11.02%
|
N/A
|
|
Asset Allocation
|
Fidelity® VIP FundsManager® 60% Portfolio -
Service Class
Adviser: FMR
|
0.71%
|
14.17%
|
8.61%
|
6.26%
|
|
Large Cap Equity
|
Fidelity® VIP Growth Opportunities Portfolio -
Service Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
|
0.84%
|
45.30%
|
18.79%
|
15.44%
|
|
Sector
|
Fidelity® VIP Health Care Portfolio - Service
Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
|
0.84%
|
4.01%
|
9.50%
|
10.39%
|
Appendix 1A-6
|
Type
|
Portfolio
Adviser/Sub-adviser
|
Current
Expenses*
|
Average Annual Total Returns
(as of 12/31/23)
|
||
|
1 year
|
5 year
|
10 year
|
|||
|
International/
Global
Equity
|
Fidelity® VIP International Index Portfolio -
Service Class 2
Adviser: FMR / Subadviser: Geode
|
0.42%
|
15.88%
|
6.89%
|
N/A
|
|
Investment
Grade Bond
|
Fidelity® VIP Investment Grade Bond Portfolio -
Service Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
|
0.63%
|
6.00%
|
1.72%
|
2.08%
|
|
Small/Mid Cap
Equity
|
Fidelity® VIP Mid Cap Portfolio - Service Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
|
0.82%
|
14.80%
|
12.17%
|
7.85%
|
|
Asset Allocation
|
Franklin Templeton Aggressive Model Portfolio -
Class II
Adviser: FTFA / Subadviser:Franklin Advisers, Inc.
("Franklin Advisers")
|
0.91%
|
18.05%
|
N/A
|
N/A
|
|
Asset Allocation
|
Franklin Templeton Moderately Aggressive Model
Portfolio - Class II
Adviser: FTFA / Subadviser: Franklin Advisers
|
0.88%
|
15.53%
|
N/A
|
N/A
|
|
Asset Allocation
|
Franklin Templeton Moderate Model Portfolio -
Class II
Adviser: FTFA / Subadviser: Franklin Advisers
|
0.85%
|
13.18%
|
N/A
|
N/A
|
|
Asset Allocation
|
Franklin Templeton Moderately Conservative
Model Portfolio - Class II
Adviser: FTFA / Subadviser: Franklin Advisers
|
0.85%
|
10.31%
|
N/A
|
N/A
|
|
Asset Allocation
|
Franklin Templeton Conservative Model
Portfolio - Class II
Adviser: FTFA / Subadviser: Franklin Advisers
|
0.89%
|
8.31%
|
N/A
|
N/A
|
|
International/
Global
Equity
|
Invesco V.I. EQV International Equity Fund -
Series II Shares
Adviser: Invesco Advisers, Inc. ("Invesco")
|
1.15%
|
17.86%
|
8.15%
|
4.07%
|
|
Small/Mid Cap
Equity
|
Invesco V.I. Main Street Small Cap Fund® -
Series II Shares
Adviser: Invesco.
|
1.13%
|
17.82%
|
12.79%
|
8.66%
|
|
Small/Mid Cap
Equity
|
Janus Henderson Enterprise Portfolio - Service
Shares
Adviser: Janus Henderson
|
0.97%
|
17.78%
|
13.14%
|
11.82%
|
Appendix 1A-7
|
Type
|
Portfolio
Adviser/Sub-adviser
|
Current
Expenses*
|
Average Annual Total Returns
(as of 12/31/23)
|
||
|
1 year
|
5 year
|
10 year
|
|||
|
International/
Global
Equity
|
Janus Henderson Global Research Portfolio -
Service Shares
Adviser: Janus Henderson
|
0.86%
|
26.47%
|
13.05%
|
8.74%
|
|
Small/Mid Cap
Equity
|
Macquarie VIP Small Cap Value Series (formerly
Delaware VIP® Small Cap Value Series) -
Service Class
Adviser: Delaware Management Company, a
series of Macquarie Investment Management
Business Trust (a Delaware statutory trust)
|
1.08%
|
9.10%
|
9.87%
|
6.77%
|
|
International
Equity
|
MFS® International Intrinsic Value Portfolio -
Service Class
Adviser: Massachusetts Financial Services
Company ("MFS")
|
1.14%
|
17.37%
|
8.31%
|
6.66%
|
|
Large Cap Equity
|
MFS® Investors Trust Series - Service Class
Adviser: MFS
|
1.03%
|
18.66%
|
13.27%
|
10.00%
|
|
Mid Cap
Equity
|
MFS® Mid Cap Value Portfolio - Service Class
Adviser: MFS
|
1.04%
|
12.39%
|
12.60%
|
8.46%
|
|
International/
Global
Equity
|
MFS® Research International Portfolio - Service
Class
Adviser: MFS
|
1.14%
|
12.83%
|
8.23%
|
3.89%
|
|
Large Cap Equity
|
MFS® Research Series - Service Class
Adviser: MFS
|
1.04%
|
22.12%
|
14.13%
|
10.55%
|
|
Sector
|
Morgan Stanley VIF U.S. Real Estate Portfolio -
Class II
Adviser: Morgan Stanley Investment Management
Inc.
|
1.05%
|
14.22%
|
2.66%
|
4.26%
|
|
Small/Mid Cap
Equity
|
Neuberger Berman AMT Mid Cap Growth
Portfolio - Class S
Adviser: Neuberger Berman Investment Advisers
LLC
|
1.11%
|
17.96%
|
11.86%
|
8.69%
|
|
Investment
Grade Bond
|
PIMCO VIT Income Portfolio - Advisor Class
Adviser: PIMCO
|
1.13%
|
8.14%
|
3.22%
|
N/A
|
|
Investment
Grade Bond
|
PIMCO VIT International Bond Portfolio (U.S.
Dollar-Hedged) - Advisor Class
Adviser: PIMCO
|
1.38%
|
8.91%
|
1.54%
|
N/A
|
Appendix 1A-8
|
Type
|
Portfolio
Adviser/Sub-adviser
|
Current
Expenses*
|
Average Annual Total Returns
(as of 12/31/23)
|
||
|
1 year
|
5 year
|
10 year
|
|||
|
Investment
Grade Bond
|
PIMCO VIT Low Duration Portfolio - Advisor
Class
Adviser: PIMCO
|
0.79%
|
4.87%
|
0.88%
|
0.82%
|
|
Investment
Grade Bond
|
PIMCO VIT Short-Term Portfolio - Advisor Class
Adviser: PIMCO
|
0.76%
|
5.80%
|
2.02%
|
1.76%
|
|
Investment
Grade Bond
|
PIMCO VIT Total Return Portfolio - Advisor Class
Adviser: PIMCO
|
0.85%
|
5.83%
|
0.98%
|
1.60%
|
|
Sector
|
Principal VC Real Estate Securities Account -
Class 2
Adviser: Principal Global Investors, LLC /
Subadviser: Principal Real Estate Investors, LLC
|
1.04%
|
13.01%
|
8.24%
|
8.44%
|
|
International/
Global Equity
|
Putnam VT International Value Fund - Class IB
Adviser: Putnam Investment Management, LLC /
Subadvisers: Putnam Investments Limited and The
Putnam Advisory Company, LLC
|
1.13%
|
18.68%
|
9.70%
|
3.88%
|
|
Large Cap Equity
|
Voya Growth and Income Portfolio - Class S
Adviser: Voya Investments, LLC / Subadviser:
Voya Investment Management Co. LLC
|
0.92%
|
27.06%
|
15.90%
|
11.02%
|
|
Investment
Grade Bond
|
Western Asset Core Plus VIT Portfolio - Class II
Adviser: FTFA / Subadvisers: Western Asset
Management Company, LLC; Western Asset
Management Company Limited in London;
Western Asset Management Company Pte. Ltd. in
Singapore; and Western Asset Management
Company Ltd. in Japan
|
0.76%
|
6.44%
|
0.98%
|
N/A
|
+
Closed for policyowners who were not invested in the Investment Division on November 23, 2020, and closed for other policyowners if all your Accumulation Value is removed from the Investment Division on or after November 23, 2020.
*
Current Expenses take into account expense reimbursement or fee waiver arrangements in place that are generally expected to continue through April 30, 2025 and may be terminated at any time thereafter at the option of the Fund. Annual expenses for the Portfolio for the year ended December 31, 2023 reflect temporary fee reductions under such an arrangement.
Appendix 1A-9
Appendix 1B
Model Portfolios, Investment Divisions and Asset Allocation Models available with IPR (for policies issued on or after May 1, 2018)
Option 1 - Franklin Templeton Model Portfolios
|
Moderately Aggressive
|
Moderate
|
||
|
100%
|
Franklin Templeton Moderately Aggressive Model
Portfolio
|
100%
|
Franklin Templeton Moderate Model Portfolio
|
|
Moderately Conservative
|
Conservative (only available for 20-year holding period)
|
||
|
100%
|
Franklin Templeton Moderately Conservative Model
Portfolio
|
100%
|
Franklin Templeton Conservative Model Portfolio
|
Option 2 - Choose Your Own Investment Divisions
|
Category A:
|
||
|
Minimum Allocation
|
30
%
|
|
|
Maximum Allocation
|
100
%
|
|
|
Subcategory I Funds (Minimum Allocation 10% - total among all the subcategory I Funds)
|
||
|
MainStay VP Bond
MainStay VP MacKay U.S. Infrastructure Bond
MainStay VP PIMCO Real Return
MainStay VP U.S. Government Money Market
American Funds IS The Bond Fund of America®
American Funds IS Capital World Bond Fund®
American Funds IS U.S. Government Securities Fund®
Columbia Variable Portfolio - Intermediate Bond Fund
Fidelity® VIP Bond Index Portfolio
|
Fidelity® VIP Investment Grade Bond Portfolio
PIMCO VIT Income Portfolio
PIMCO VIT International Bond Portfolio (U.S.
Dollar-Hedged)
PIMCO VIT Low Duration Portfolio
PIMCO VIT Short-Term Portfolio
PIMCO VIT Total Return Portfolio
Western Asset Core Plus VIT Portfolio
|
|
|
Subcategory II Funds
|
||
|
MainStay VP Floating Rate
MainStay VP MacKay High Yield Corporate Bond
MainStay VP MacKay Strategic Bond
|
BlackRock® High Yield V.I. Fund
Columbia Variable Portfolio - Emerging Markets Bond
|
|
|
Category B:
|
||
|
Minimum Allocation
|
0
%
|
|
|
Maximum Allocation
|
70
%
|
|
|
Category B Funds
|
||
|
MainStay VP American Century Sustainable Equity
MainStay VP Epoch U.S. Equity Yield
MainStay VP Hedge Multi-Strategy
MainStay VP MacKay Convertible
MainStay VP S&P 500 Index
MainStay VP Wellington U.S. Equity
MainStay VP Winslow Large Cap Growth
AB VPS Relative Value Portfolio
American Funds IS Growth Fund
American Funds IS Washington Mutual Investors FundSM
|
BNY Mellon Sustainable U.S. Equity Portfolio
ClearBridge Variable Appreciation Portfolio
DWS Alternative Asset Allocation VIP
Fidelity® VIP ContrafundSM Portfolio
Fidelity® VIP Equity-Income PortfolioSM
Fidelity® VIP Growth Opportunities Portfolio
MFS® Investors Trust Series
MFS® Research Series
Voya Growth and Income Portfolio
|
|
|
Category C:
|
||
|
Minimum Allocation
|
0
%
|
|
|
Maximum Allocation
|
25
%
|
|
Appendix 1B-1
|
Subcategory I Funds (Maximum Allocation 15% - total among all the subcategory I Funds)
|
||
|
MainStay VP Small Cap Growth
MainStay VP Wellington Mid Cap
MainStay VP Wellington Small Cap
Columbia Variable Portfolio - Small Cap Value
Fidelity® VIP Extended Market Index Portfolio
Fidelity® VIP Mid Cap Portfolio
|
Invesco V.I. Main Street Small Cap Fund®
Janus Henderson Enterprise Portfolio
Macquarie VIP Small Cap Value Series
MFS® Mid Cap Value Portfolio
Neuberger Berman AMT Mid Cap Growth Portfolio
|
|
|
Subcategory II Funds (Maximum Allocation 15% - total among all the subcategory II Funds)
|
||
|
MainStay VP PineStone International Equity
American Funds IS Global Small Capitalization Fund
American Funds IS New World Fund®
Fidelity® VIP Emerging Markets Portfolio
Fidelity® VIP International Index Portfolio
|
Invesco V.I. EQV International Equity Fund
Janus Henderson Global Research Portfolio
MFS® International Intrinsic Value Portfolio
MFS® Research International Portfolio
Putnam VT International Value Fund
|
|
|
Subcategory III Funds (Maximum Allocation 10% - total among all the subcategory III Funds)
|
||
|
MainStay VP CBRE Global Infrastructure
MainStay VP Fidelity Institutional AM® Utilities
MainStay VP Natural Resources
BNY Mellon IP Technology Growth Portfolio
|
Columbia Variable Portfolio - Commodity Strategy
Fidelity® VIP Health Care Portfolio
Morgan Stanley VIF U.S. Real Estate Portfolio
Principal VC Real Estate Securities Account
|
Option 3 - Asset Allocation Funds:
|
Category D:
|
||
|
Minimum Allocation
|
100
%
|
|
|
Category D Asset Allocation Funds
|
||
|
MainStay VP Balanced
MainStay VP Conservative Allocation
MainStay VP Income Builder
MainStay VP Janus Henderson Balanced
MainStay VP Moderate Allocation
American Funds IS Asset Allocation Fund
BlackRock® Global Allocation V.I. Fund
Fidelity® VIP FundsManager® 60% Portfolio
Franklin Templeton Moderately Aggressive Model Portfolio
Franklin Templeton Moderate Model Portfolio
Franklin Templeton Moderately Conservative Model Portfolio
Franklin Templeton Conservative Model Portfolio
|
Option 4 - Asset Allocation Models (subject to availability)
|
Moderately Aggressive
|
Moderate
|
||
|
10%
|
MainStay VP S&P 500 Index
|
10%
|
MainStay VP S&P 500 Index
|
|
10%
|
DWS Alternative Asset Allocation VIP
|
10%
|
DWS Alternative Asset Allocation VIP
|
|
7%
|
PIMCO VIT Total Return Portfolio
|
8%
|
MainStay VP Bond
|
|
7%
|
MainStay VP MacKay High Yield Corporate Bond
|
7%
|
PIMCO VIT Total Return Portfolio
|
|
7%
|
American Funds IS Washington Mutual Investors FundSM
|
7%
|
Fidelity® VIP Bond Index Portfolio
|
|
7%
|
MainStay VP Wellington Mid Cap
|
7%
|
MainStay VP MacKay High Yield Corporate Bond
|
|
6%
|
MainStay VP Bond
|
6%
|
MainStay VP MacKay U.S. Infrastructure Bond
|
|
6%
|
MFS® Investors Trust Series
|
5%
|
MainStay VP PIMCO Real Return
|
|
5%
|
MainStay VP PIMCO Real Return
|
5%
|
Columbia Variable Portfolio - Emerging Markets Bond
|
|
5%
|
Columbia Variable Portfolio - Emerging Markets Bond
|
5%
|
MFS® Investors Trust Series
|
|
5%
|
MFS® Research Series
|
5%
|
MFS® Research Series
|
|
5%
|
Fidelity® VIP Equity-Income PortfolioSM
|
5%
|
Fidelity® VIP Equity-Income PortfolioSM
|
|
5%
|
ClearBridge Variable Appreciation Portfolio
|
5%
|
American Funds IS Washington Mutual Investors FundSM
|
Appendix 1B-2
|
Moderately Aggressive
|
Moderate
|
||
|
5%
|
MainStay VP PineStone International Equity
|
5%
|
MainStay VP Wellington Mid Cap
|
|
5%
|
American Funds IS New World Fund®
|
5%
|
American Funds IS New World Fund®
|
|
5%
|
MFS® International Intrinsic Value Portfolio
|
5%
|
MFS® International Intrinsic Value Portfolio
|
|
Moderately Conservative
|
Conservative
|
||
|
10%
|
MainStay VP Bond
|
14%
|
PIMCO VIT International Bond Port (U.S. Dollar-Hedged)
|
|
10%
|
PIMCO VIT Total Return Portfolio
|
12%
|
MainStay VP Bond
|
|
10%
|
DWS Alternative Asset Allocation VIP
|
11%
|
PIMCO VIT Total Return Portfolio
|
|
9%
|
Fidelity® VIP Bond Index Portfolio
|
10%
|
MainStay VP MacKay U.S. Infrastructure Bond
|
|
8%
|
MainStay VP MacKay U.S. Infrastructure Bond
|
10%
|
Fidelity® VIP Bond Index Portfolio
|
|
7%
|
MainStay VP MacKay High Yield Corporate Bond
|
10%
|
DWS Alternative Asset Allocation VIP
|
|
6%
|
MainStay VP PIMCO Real Return
|
7%
|
MainStay VP PIMCO Real Return
|
|
5%
|
PIMCO VIT International Bond Port (U.S. Dollar-Hedged)
|
7%
|
MainStay VP MacKay High Yield Corporate Bond
|
|
5%
|
Columbia Variable Portfolio - Emerging Markets Bond
|
5%
|
Columbia Variable Portfolio - Emerging Markets Bond
|
|
5%
|
MainStay VP S&P 500 Index
|
4%
|
BlackRock® High Yield V.I. Fund
|
|
5%
|
MFS® Investors Trust Series
|
4%
|
American Funds IS Washington Mutual Investors FundSM
|
|
5%
|
MFS® Research Series
|
3%
|
MFS® Research Series
|
|
5%
|
Fidelity® VIP Equity-Income PortfolioSM
|
3%
|
MainStay VP Wellington Mid Cap
|
|
5%
|
American Funds IS Washington Mutual Investors FundSM
|
||
|
5%
|
MainStay VP Wellington Mid Cap
|
Appendix 1B-3
Appendix 1C
Model Portfolios, Investment Divisions and Asset Allocation Models available with IPR (for policies issued before May 1, 2018)
Option 1 - Choose Your Own Investment Divisions
|
Asset Allocation Categories:
|
||
|
Category A:
|
||
|
Minimum Allocation
|
30
%
|
|
|
Maximum Allocation
|
100
%
|
|
|
Category A Funds
|
||
|
MainStay VP Bond
|
Columbia Variable Portfolio - Intermediate Bond Fund
|
|
|
MainStay VP Floating Rate
|
Fidelity® VIP Bond Index Portfolio
|
|
|
MainStay VP MacKay High Yield Corporate Bond
|
Fidelity® VIP Investment Grade Bond Portfolio
|
|
|
MainStay VP MacKay Strategic Bond
|
PIMCO VIT Income Portfolio
|
|
|
MainStay VP MacKay U.S. Infrastructure Bond
|
PIMCO VIT International Bond Port (U.S. Dollar-Hedged)
|
|
|
MainStay VP U.S. Government Money Market
|
PIMCO VIT Low Duration Portfolio
|
|
|
American Funds IS The Bond Fund of America®
|
PIMCO VIT Short-Term Portfolio
|
|
|
American Funds IS Capital World Bond Fund®
|
PIMCO VIT Total Return Portfolio
|
|
|
American Funds IS U.S. Government Securities Fund®
|
Western Asset Core Plus VIT Portfolio
|
|
|
BlackRock® High Yield V.I. Fund
|
||
|
Columbia Variable Portfolio - Emerging Markets Bond
|
||
|
Category B:
|
||
|
Minimum Allocation
|
0
%
|
|
|
Maximum Allocation
|
70
%
|
|
|
Category B Funds
|
||
|
MainStay VP American Century Sustainable Equity
|
American Funds IS Asset Allocation Fund
|
|
|
MainStay VP Balanced
|
American Funds IS Growth Fund
|
|
|
MainStay VP Conservative Allocation
|
American Funds IS Washington Mutual Investors Fund
|
|
|
MainStay VP Epoch U.S. Equity Yield
|
BlackRock® Global Allocation V.I. Fund
|
|
|
MainStay VP Equity Allocation
|
BNY Mellon Sustainable U.S. Equity Portfolio
|
|
|
MainStay VP Fidelity Institutional AM® Utilities
|
ClearBridge Variable Appreciation Portfolio
|
|
|
MainStay VP Growth Allocation
|
DWS Alternative Asset Allocation VIP
|
|
|
MainStay VP Hedge Multi-Strategy
|
Fidelity® VIP ContrafundSM Portfolio
|
|
|
MainStay VP Income Builder
|
Fidelity® VIP FundsManager® 60% Portfolio
|
|
|
MainStay VP Janus Henderson Balanced
|
Fidelity® VIP Growth Opportunities Portfolio
|
|
|
MainStay VP MacKay Convertible
|
Franklin Templeton Moderately Aggressive Model Portfolio
|
|
|
MainStay VP Moderate Allocation
|
Franklin Templeton Moderate Model Portfolio
|
|
|
MainStay VP S&P 500 Index
|
Franklin Templeton Moderately Conservative Model Portfolio
|
|
|
MainStay VP Wellington U.S. Equity
|
Franklin Templeton Conservative Model Portfolio
|
|
|
MainStay VP Winslow Large Cap Growth
|
MFS® Investors Trust Series
|
|
|
AB VPS Relative Value Portfolio
|
MFS® Research Series
|
|
|
Voya Growth and Income
|
||
|
Category C:
|
||
|
Minimum Allocation
|
0
%
|
|
|
Maximum Allocation
|
10
%
|
|
|
Category C Funds
|
Appendix 1C-1
|
MainStay VP CBRE Global Infrastructure
MainStay VP Natural Resources
MainStay VP PineStone International Equity
MainStay VP Small Cap Growth
MainStay VP Wellington Mid Cap
MainStay VP Wellington Small Cap
American Funds IS Global Small Capitalization Fund
American Funds IS New World Fund®
BNY Mellon IP Technology Growth Portfolio
Columbia Variable Portfolio - Commodity Strategy
Columbia Variable Portfolio - Small Cap Value
Fidelity® VIP Emerging Markets Portfolio
Fidelity® VIP Equity-Income PortfolioSM
Fidelity® VIP Extended Market Index Portfolio
|
Fidelity® VIP Health Care Portfolio
Fidelity® VIP International Index Portfolio
Fidelity® VIP Mid Cap Portfolio
Invesco V.I. EQV International Equity Fund
Invesco V.I. Main Street Small Cap Fund®
Janus Henderson Enterprise Portfolio
Janus Henderson Global Research Portfolio
Macquarie VIP Small Cap Value Series
MFS® International Intrinsic Value Portfolio
MFS® Mid Cap Value Portfolio
MFS® Research International Portfolio
Morgan Stanley VIF U.S. Real Estate Portfolio
Neuberger Berman AMT Mid Cap Growth Portfolio
Principal VC Real Estate Securities
Putnam VT International Value
|
Option 2 - Franklin Templeton Model Portfolios
|
Moderately Aggressive
|
Moderate
|
||
|
100%
|
Franklin Templeton Moderately Aggressive Model
Portfolio
|
100%
|
Franklin Templeton Moderate Model Portfolio
|
|
Moderately Conservative
|
Conservative (only available for 20-year holding period)
|
||
|
100%
|
Franklin Templeton Moderately Conservative Model
Portfolio
|
100%
|
Franklin Templeton Conservative Model Portfolio
|
Option 3 - Asset Allocation Models (subject to availability)
|
Moderately Aggressive
|
Moderate
|
||
|
10%
|
MainStay VP S&P 500 Index
|
10%
|
MainStay VP S&P 500 Index
|
|
10%
|
DWS Alternative Asset Allocation VIP
|
10%
|
DWS Alternative Asset Allocation VIP
|
|
7%
|
PIMCO VIT Total Return Portfolio
|
8%
|
MainStay VP Bond
|
|
7%
|
MainStay VP MacKay High Yield Corporate Bond
|
7%
|
PIMCO VIT Total Return Portfolio
|
|
7%
|
American Funds IS Washington Mutual Investors FundSM
|
7%
|
Fidelity® VIP Bond Index Portfolio
|
|
7%
|
MainStay VP Wellington Mid Cap
|
7%
|
MainStay VP MacKay High Yield Corporate Bond
|
|
6%
|
MainStay VP Bond
|
6%
|
MainStay VP MacKay U.S. Infrastructure Bond
|
|
6%
|
MFS® Investors Trust Series
|
5%
|
MainStay VP PIMCO Real Return
|
|
5%
|
MainStay VP PIMCO Real Return
|
5%
|
Columbia Variable Portfolio - Emerging Markets Bond
|
|
5%
|
Columbia Variable Portfolio - Emerging Markets Bond
|
5%
|
MFS® Investors Trust Series
|
|
5%
|
MFS® Research Series
|
5%
|
MFS® Research Series
|
|
5%
|
Fidelity® VIP Equity-Income PortfolioSM
|
5%
|
Fidelity® VIP Equity-Income PortfolioSM
|
|
5%
|
ClearBridge Variable Appreciation Portfolio
|
5%
|
American Funds IS Washington Mutual Investors FundSM
|
|
5%
|
MainStay VP PineStone International Equity
|
5%
|
MainStay VP Wellington Mid Cap
|
|
5%
|
American Funds IS New World Fund®
|
5%
|
American Funds IS New World Fund®
|
|
5%
|
MFS® International Intrinsic Value Portfolio
|
5%
|
MFS® International Intrinsic Value Portfolio
|
|
Moderately Conservative
|
Conservative
|
||
|
10%
|
MainStay VP Bond
|
14%
|
PIMCO VIT International Bond Port (U.S. Dollar-Hedged)
|
|
10%
|
PIMCO VIT Total Return Portfolio
|
12%
|
MainStay VP Bond
|
|
10%
|
DWS Alternative Asset Allocation VIP
|
11%
|
PIMCO VIT Total Return Portfolio
|
|
9%
|
Fidelity® VIP Bond Index Portfolio
|
10%
|
MainStay VP MacKay U.S. Infrastructure Bond
|
|
8%
|
MainStay VP MacKay U.S. Infrastructure Bond
|
10%
|
Fidelity® VIP Bond Index Portfolio
|
|
7%
|
MainStay VP MacKay High Yield Corporate Bond
|
10%
|
DWS Alternative Asset Allocation VIP
|
Appendix 1C-2
|
Moderately Conservative
|
Conservative
|
||
|
6%
|
MainStay VP PIMCO Real Return
|
7%
|
MainStay VP PIMCO Real Return
|
|
5%
|
PIMCO VIT International Bond Port (U.S. Dollar-Hedged)
|
7%
|
MainStay VP MacKay High Yield Corporate Bond
|
|
5%
|
Columbia Variable Portfolio - Emerging Markets Bond
|
5%
|
Columbia Variable Portfolio - Emerging Markets Bond
|
|
5%
|
MainStay VP S&P 500 Index
|
4%
|
BlackRock® High Yield V.I. Fund
|
|
5%
|
MFS® Investors Trust Series
|
4%
|
American Funds IS Washington Mutual Investors FundSM
|
|
5%
|
MFS® Research Series
|
3%
|
MFS® Research Series
|
|
5%
|
Fidelity® VIP Equity-Income PortfolioSM
|
3%
|
MainStay VP Wellington Mid Cap
|
|
5%
|
American Funds IS Washington Mutual Investors FundSM
|
||
|
5%
|
MainStay VP Wellington Mid Cap
|
Appendix 1C-3
This Summary Prospectus incorporates by reference the New York Life Premier Variable Annuity- FP Series full statutory prospectus and the Statement of Additional Information (SAI), both dated May 1, 2024, as amended or supplemented. The full statutory prospectus and the SAI are posted on our website, https://dfinview.com/NewYorkLife/TAHD/premier-fpseries. The full prospectus and SAI for the policy may be obtained, free of charge, in any manner shown on the front page of this Summary Prospectus.
Reports and other information about the Separate Accounts are available on the SEC's website at https://www.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].
Separate Account III EDGAR contract identifier #C000193957
Separate Account IV EDGAR contract identifier #C000193958