# EDGAR Filing Document

**Accession Number:** 0000906982
**File Stem:** 0001193125-26-201427
**Filing Date:** 2026-5
**Character Count:** 379383
**Document Hash:** db9cd5c62ecd56dd65aefa66d5423ad8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-201427.hdr.sgml**: 20260501

**ACCESSION NUMBER**: 0001193125-26-201427

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 9

**FILED AS OF DATE**: 20260501

**DATE AS OF CHANGE**: 20260501

**EFFECTIVENESS DATE**: 20260501

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEW YORK LIFE INS & ANNUITY CORP VAR UNIV LIFE SEP ACC I
- **CENTRAL INDEX KEY:** 0000906982

**ORGANIZATION NAME:**
- **EIN:** 133044743
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-263768
- **FILM NUMBER:** 26932541

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVE, ROOM 10SB
- **STREET 2:** ATTENTION:  LARRY ROONEY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** (212) 576-6822

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE, ROOM 10SB
- **STREET 2:** ATTENTION:  LARRY ROONEY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

## Series and Classes Contracts Data

### NEW YORK LIFE INS & ANNUITY CORP VAR UNIV LIFE SEP ACC I (Series ID: S000009365)

---

|  |  |
|:---|:---|
| Class Name         | Class ID   |
| Market Wealth Plus | C000236402 |

---

## Series and Classes Contracts Data

### NEW YORK LIFE INS & ANNUITY CORP VAR UNIV LIFE SEP ACC I (Series ID: S000009365)

| Class ID   | Class Name         | Ticker Symbol   |
|:---|:---|:---|
| C000236402 | Market Wealth Plus |  |

?xml version='1.0' encoding='ASCII'? NEW YORK LIFE INS & ANNUITY CORP VAR UNIV LIFE SEP ACC I

**New York Life Insurance and Annuity Corporation**

**Market Wealth Plus**

**Prospectus—May 1, 2026**

**A flexible premium variable universal life insurance contract offered to individuals under NYLIAC Variable Universal Life Separate Account-I**

Please use one of the following addresses for service requests:

---

| | |
|:---|:---|
| **Regular Mail** | **Express Mail** |
| NYLIAC<br> Variable Products Service Center<br> Madison Square Station<br> P.O. Box 922<br> New York, NY 10159<br>| &nbsp;&nbsp; NYLIAC<br> Variable Products Service Center<br> 51 Madison Avenue<br> Floor 3B, Room 0304<br> New York, NY 10010<br>|

---

or call our toll-free number: 1-800-598-2019

For submitting death claim forms only, you may also use:

---

| |
|:---|
| **Regular Mail** |
| New York Life<br> P.O. Box 130539<br> Dallas, TX 75313-0539<br>|

---

Premium payments and loan repayments should be sent to us at:

---

| | |
|:---|:---|
| **Regular Mail** | **Express Mail** |
| NYLIAC<br> 75 Remittance Drive, Suite 3021<br> Chicago, IL 60675-3021<br>| &nbsp;&nbsp; NYLIAC<br> 5450 N. Cumberland Avenue, Suite 100<br> Chicago, IL 60656-1422<br>|

---

This prospectus describes the Market Wealth Plus policy, an individual, flexible premium variable universal life insurance policy issued by New York Life Insurance and Annuity Corporation ("NYLIAC"). In this prospectus, the words "we," "our" or "us" refer to NYLIAC and the words "you" or "your" refer to the policyowner. The Market Wealth Plus policy insures one person and pays a benefit upon that person's death.

***The Securities and Exchange Commission ("SEC") has not approved or disapproved of this security or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.*** Policies have risks including risk of loss of the amount 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.

This life insurance policy is not considered an offering in any jurisdiction where such offering may not be lawfully made. We do not authorize any information or representations regarding the offering described in this prospectus and the Statement of Additional Information ("SAI") other than as contained in these materials or any attached supplements to them, or in any supplemental sales material we authorize. Additional information about certain investment products, including variable life insurance, has been prepared by the Securities and Exchange Commission's staff and is available at Investor.gov.

***Free Look.*** If you are a new purchaser of a policy, you may cancel your policy within 20 days of receiving it without paying fees or penalties. In some states, this "Free Look" or cancellation period may be longer. If you cancel your policy, you will receive either a full refund of the amount you paid with your application or your policy's Cash Value, plus any Premium Expense Charge and Monthly Deduction Charges, minus loans and accrued loan interest.

------

You should review this prospectus, or consult with your investment professional, for additional information about the specific cancellation terms that apply.

**The Market Wealth Plus Prospectus and Statement of Additional Information are available at <u>https://dfinview.com/NewYorkLife/TAHD/marketwealthplus</u>.**

------

**Table of Contents** 

---

| | |
|:---|:---|
|  | **Page** |
| **[Definitions](#xx_42fc9f48-1bff-469f-a3dc-c18b23166577_1)** | &nbsp;&nbsp; 1<br>|
| **[Important Information You Should Consider](#xx_e9dcd4b3-0039-409f-bcad-986b283a9a57_1)**<br> **[About the Policy](#xx_e9dcd4b3-0039-409f-bcad-986b283a9a57_1)**<br>| &nbsp;&nbsp; 5<br>|
| [Fees and Expenses](#xx_e9dcd4b3-0039-409f-bcad-986b283a9a57_1) | &nbsp;&nbsp; 5<br>|
| [Risks](#xx_e9dcd4b3-0039-409f-bcad-986b283a9a57_2) | &nbsp;&nbsp; 6<br>|
| [Restrictions](#xx_e9dcd4b3-0039-409f-bcad-986b283a9a57_4) | &nbsp;&nbsp; 8<br>|
| [Taxes](#xx_e9dcd4b3-0039-409f-bcad-986b283a9a57_4) | &nbsp;&nbsp; 8<br>|
| [Conflicts of Interest](#xx_e9dcd4b3-0039-409f-bcad-986b283a9a57_5) | &nbsp;&nbsp; 9<br>|
| **[Overview of the Policy](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_1)** | &nbsp;&nbsp; 10<br>|
| [1.](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_1)[Purposes of the Policy](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_1) | &nbsp;&nbsp; 10<br>|
| [2.](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_1)[Flexible Premiums](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_1) | &nbsp;&nbsp; 10<br>|
| [3.](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_1)[Summary of Primary Features](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_1) | &nbsp;&nbsp; 10<br>|
| [Life Insurance Benefit](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_1) | &nbsp;&nbsp; 10<br>|
| [Changing the Face Amount of Your Policy](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_2) | &nbsp;&nbsp; 11<br>|
| [No Lapse Guarantees](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_2) | &nbsp;&nbsp; 11<br>|
| [Cash Value](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_2) | &nbsp;&nbsp; 11<br>|
| [Non-guaranteed Persistency Credit](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_2) | &nbsp;&nbsp; 11<br>|
| [Liquidity through Loans and Partial](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_2)<br> [Surrenders](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_2)<br>| &nbsp;&nbsp; 11<br>|
| [Investment Options](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_3) | &nbsp;&nbsp; 12<br>|
| [Automated Investment Features](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_3) | &nbsp;&nbsp; 12<br>|
| [Optional Riders](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_3) | &nbsp;&nbsp; 12<br>|
| [Policyowner Support](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_3) | &nbsp;&nbsp; 12<br>|
| [A Highly-Rated Company](#xx_a395ab85-503e-4cbb-a84b-e10238fc41c6_3) | &nbsp;&nbsp; 12<br>|
| **[Table of Fees and Expenses](#xx_e60d2215-6e47-42a3-a81f-c24179ebc683_1)** | &nbsp;&nbsp; 13<br>|
| [Transaction Fees](#xx_e60d2215-6e47-42a3-a81f-c24179ebc683_1) | &nbsp;&nbsp; 13<br>|
| [Periodic Charges Other Than Portfolios' Annual](#xx_e60d2215-6e47-42a3-a81f-c24179ebc683_3)<br> [Operating Expenses](#xx_e60d2215-6e47-42a3-a81f-c24179ebc683_3)<br>| &nbsp;&nbsp; 15<br>|
| [Eligible Portfolios' Annual Operating Expenses](#xx_e60d2215-6e47-42a3-a81f-c24179ebc683_4) | &nbsp;&nbsp; 16<br>|
| **[Summary of Principal Risks of Investing in the](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_1)**<br> **[Policy](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_1)**<br>| &nbsp;&nbsp; 17<br>|
| [Investment Risk](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_1) | &nbsp;&nbsp; 17<br>|
| [Not a Short-Term Investment](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_1) | &nbsp;&nbsp; 17<br>|
| [Portfolio Risks](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_1) | &nbsp;&nbsp; 17<br>|
| [Risk of Lapse (especially on minimally-funded](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_1)<br> [policies)](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_1)<br>| &nbsp;&nbsp; 17<br>|
| [Risk of Lapse from Policy Loans](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_1) | &nbsp;&nbsp; 17<br>|
| [Limitations on Access to Cash Value (Liquidity](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_2)<br> [Risk)](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_2)<br>| &nbsp;&nbsp; 18<br>|
| [Tax Risks](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_2) | &nbsp;&nbsp; 18<br>|
| [Potential for Increased Charges](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_2) | &nbsp;&nbsp; 18<br>|
| [Potentially Harmful Transfer Activity](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_2) | &nbsp;&nbsp; 18<br>|
| [Potential for Low Crediting Rates](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_3) | &nbsp;&nbsp; 19<br>|
| [Insurance Company Risks; Risks Affecting our](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_3)<br> [Administration of Your Policy](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_3)<br>| &nbsp;&nbsp; 19<br>|

---

---

| | |
|:---|:---|
|  | **Page** |
| **[Management And Organization](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_3)** | &nbsp;&nbsp; 19<br>|
| [Insurer](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_3) | &nbsp;&nbsp; 19<br>|
| [Your Policy](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_3) | &nbsp;&nbsp; 19<br>|
| [About the Separate Account](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_4) | &nbsp;&nbsp; 20<br>|
| [Our Rights](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_4) | &nbsp;&nbsp; 20<br>|
| [The Fixed Account and the DCA Accounts](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_5) | &nbsp;&nbsp; 21<br>|
| [How To Reach Us For Policy Services](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_5) | &nbsp;&nbsp; 21<br>|
| [Written Service Requests](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_5) | &nbsp;&nbsp; 21<br>|
| [Telephone Service Requests](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_5) | &nbsp;&nbsp; 21<br>|
| [Online Service at](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_6)[www.newyorklife.com](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_6)[and](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_6)<br> [through the New York Life Insurance](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_6)<br> [Company Mobile Application](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_6)<br>| &nbsp;&nbsp; 22<br>|
| [Third-Party Access to Your Account](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_6) | &nbsp;&nbsp; 22<br>|
| [Registered Representative Actions](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_7) | &nbsp;&nbsp; 23<br>|
| [Information Systems Failures And](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_7)<br> [Cybersecurity Risks](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_7)<br>| &nbsp;&nbsp; 23<br>|
| [Risks From Serious Infectious Disease](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_8)<br> [Outbreaks](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_8)<br>| &nbsp;&nbsp; 24<br>|
| [Funds And Eligible Portfolios](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_8) | &nbsp;&nbsp; 24<br>|
| [Money Market Fund Fees](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_10) | &nbsp;&nbsp; 26<br>|
| [Reinvestment](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_11) | &nbsp;&nbsp; 27<br>|
| [The Franklin Templeton Model Portfolios](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_11) | &nbsp;&nbsp; 27<br>|
| [Conflicts of Interest Relating to the Model](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_11)<br> [Portfolios](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_11)<br>| &nbsp;&nbsp; 27<br>|
| [Investment Return](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_12) | &nbsp;&nbsp; 28<br>|
| [Voting](#xx_c450dc01-c7fc-42ff-b079-b6ea467f0937_12) | &nbsp;&nbsp; 28<br>|
| **[Charges Associated With The Policy](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_1)** | &nbsp;&nbsp; 29<br>|
| [Deductions From Premium Payments](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_1) | &nbsp;&nbsp; 29<br>|
| [Premium Expense Charge](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_1) | &nbsp;&nbsp; 29<br>|
| [Deductions From Cash Value](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_1) | &nbsp;&nbsp; 29<br>|
| [Contract Charge](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_1) | &nbsp;&nbsp; 29<br>|
| [Mortality And Expense Risk Charge](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_2) | &nbsp;&nbsp; 30<br>|
| [Administrative Charge](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_2) | &nbsp;&nbsp; 30<br>|
| [Expense Allocation Option](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_2) | &nbsp;&nbsp; 30<br>|
| [Separate Account Charges](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_3) | &nbsp;&nbsp; 31<br>|
| [Charges For Federal Income Taxes](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_3) | &nbsp;&nbsp; 31<br>|
| [Fund Charges](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_3) | &nbsp;&nbsp; 31<br>|
| [Transaction Charges](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_3) | &nbsp;&nbsp; 31<br>|
| [Surrender Charges](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_3) | &nbsp;&nbsp; 31<br>|
| [Surrender Charges On Transactions](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_4)<br> [Resulting In A Face Amount Decrease](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_4)<br>| &nbsp;&nbsp; 32<br>|
| [Partial Surrender Fee](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_4) | &nbsp;&nbsp; 32<br>|
| [Transfer Fee](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_4) | &nbsp;&nbsp; 32<br>|
| [Loan Charges](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_4) | &nbsp;&nbsp; 32<br>|

---

i

------

---

| | |
|:---|:---|
|  | **Page** |
| [Rider Charges](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_5) | &nbsp;&nbsp; 33<br>|
| [Commissions Paid To Dealers](#xx_25fafc07-a559-4679-bbcd-2a402d58a4ce_5) | &nbsp;&nbsp; 33<br>|
| **[Description Of The Policy](#xx_9ddd9b80-1407-4d80-8764-be4321803129_1)** | &nbsp;&nbsp; 34<br>|
| [The Parties](#xx_9ddd9b80-1407-4d80-8764-be4321803129_1) | &nbsp;&nbsp; 34<br>|
| [The Policy](#xx_9ddd9b80-1407-4d80-8764-be4321803129_1) | &nbsp;&nbsp; 34<br>|
| [How The Policy is Available](#xx_9ddd9b80-1407-4d80-8764-be4321803129_2) | &nbsp;&nbsp; 35<br>|
| [Policy Premiums](#xx_9ddd9b80-1407-4d80-8764-be4321803129_2) | &nbsp;&nbsp; 35<br>|
| [Cash Value](#xx_9ddd9b80-1407-4d80-8764-be4321803129_2) | &nbsp;&nbsp; 35<br>|
| [Investment Divisions, The Fixed Account and](#xx_9ddd9b80-1407-4d80-8764-be4321803129_2)<br> [the DCA Accounts](#xx_9ddd9b80-1407-4d80-8764-be4321803129_2)<br>| &nbsp;&nbsp; 35<br>|
| [Non-guaranteed Persistency Credit](#xx_9ddd9b80-1407-4d80-8764-be4321803129_2) | &nbsp;&nbsp; 35<br>|
| [Amount In The Separate Account](#xx_9ddd9b80-1407-4d80-8764-be4321803129_3) | &nbsp;&nbsp; 36<br>|
| [Amount In The Fixed Account and the DCA](#xx_9ddd9b80-1407-4d80-8764-be4321803129_3)<br> [Accounts](#xx_9ddd9b80-1407-4d80-8764-be4321803129_3)<br>| &nbsp;&nbsp; 36<br>|
| [Transfers Among Investment Divisions, The](#xx_9ddd9b80-1407-4d80-8764-be4321803129_4)<br> [Fixed Account and the DCA Accounts](#xx_9ddd9b80-1407-4d80-8764-be4321803129_4)<br>| &nbsp;&nbsp; 37<br>|
| [Limits On Transfers](#xx_9ddd9b80-1407-4d80-8764-be4321803129_5) | &nbsp;&nbsp; 38<br>|
| [Additional Benefits Through Riders And](#xx_9ddd9b80-1407-4d80-8764-be4321803129_6)<br> [Options](#xx_9ddd9b80-1407-4d80-8764-be4321803129_6)<br>| &nbsp;&nbsp; 39<br>|
| [Age 121 Policy Anniversary](#xx_9ddd9b80-1407-4d80-8764-be4321803129_22) | &nbsp;&nbsp; 55<br>|
| [Tax-Free "Section 1035" Insurance Policy](#xx_9ddd9b80-1407-4d80-8764-be4321803129_22)<br> [Exchanges](#xx_9ddd9b80-1407-4d80-8764-be4321803129_22)<br>| &nbsp;&nbsp; 55<br>|
| [24-Month Exchange Privilege](#xx_9ddd9b80-1407-4d80-8764-be4321803129_23) | &nbsp;&nbsp; 56<br>|
| **[Loans](#xx_b82a5af3-af1b-4628-be3e-3c45ff21d950_1)** | &nbsp;&nbsp; 57<br>|
| [Your Policy As Collateral For A Loan](#xx_b82a5af3-af1b-4628-be3e-3c45ff21d950_1) | &nbsp;&nbsp; 57<br>|
| [Loan Interest](#xx_b82a5af3-af1b-4628-be3e-3c45ff21d950_1) | &nbsp;&nbsp; 57<br>|
| [Interest Credited On The Cash Value Held As](#xx_b82a5af3-af1b-4628-be3e-3c45ff21d950_1)<br> [Collateral For A Policy Loan](#xx_b82a5af3-af1b-4628-be3e-3c45ff21d950_1)<br>| &nbsp;&nbsp; 57<br>|
| [When Loan Interest Is Due](#xx_b82a5af3-af1b-4628-be3e-3c45ff21d950_2) | &nbsp;&nbsp; 58<br>|
| [Loan Repayment](#xx_b82a5af3-af1b-4628-be3e-3c45ff21d950_2) | &nbsp;&nbsp; 58<br>|
| [Excess Loan Condition](#xx_b82a5af3-af1b-4628-be3e-3c45ff21d950_2) | &nbsp;&nbsp; 58<br>|
| [The Effect Of A Policy Loan](#xx_b82a5af3-af1b-4628-be3e-3c45ff21d950_2) | &nbsp;&nbsp; 58<br>|
| **[Premiums](#xx_931a716b-4feb-4614-bdf1-c8d1fbea8ad3_1)** | &nbsp;&nbsp; 60<br>|
| [Planned Premium](#xx_931a716b-4feb-4614-bdf1-c8d1fbea8ad3_1) | &nbsp;&nbsp; 60<br>|
| [Unplanned Premium](#xx_931a716b-4feb-4614-bdf1-c8d1fbea8ad3_1) | &nbsp;&nbsp; 60<br>|
| [Risk Of Minimally Funded Policies](#xx_931a716b-4feb-4614-bdf1-c8d1fbea8ad3_1) | &nbsp;&nbsp; 60<br>|
| [Timing And Valuation](#xx_931a716b-4feb-4614-bdf1-c8d1fbea8ad3_2) | &nbsp;&nbsp; 61<br>|
| [Free Look](#xx_931a716b-4feb-4614-bdf1-c8d1fbea8ad3_2) | &nbsp;&nbsp; 61<br>|
| [Premium Payments](#xx_931a716b-4feb-4614-bdf1-c8d1fbea8ad3_2) | &nbsp;&nbsp; 61<br>|
| [Automatic Premium Payment Arrangement](#xx_931a716b-4feb-4614-bdf1-c8d1fbea8ad3_2) | &nbsp;&nbsp; 61<br>|
| [Premium Payments Returned For Insufficient](#xx_931a716b-4feb-4614-bdf1-c8d1fbea8ad3_3)<br> [Funds](#xx_931a716b-4feb-4614-bdf1-c8d1fbea8ad3_3)<br>| &nbsp;&nbsp; 62<br>|
| **[Policy Payment Information](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_1)** | &nbsp;&nbsp; 63<br>|
| [When Life Insurance Coverage Begins](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_1) | &nbsp;&nbsp; 63<br>|
| [Changing The Face Amount Of Your Policy](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_1) | &nbsp;&nbsp; 63<br>|
| [Life Insurance Proceeds](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_1) | &nbsp;&nbsp; 63<br>|
| [Payees](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_2) | &nbsp;&nbsp; 64<br>|

---

---

| | |
|:---|:---|
|  | **Page** |
| [How Life Insurance Proceeds Will Be Paid](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_2) | &nbsp;&nbsp; 64<br>|
| [When We Pay Life Insurance Proceeds](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_2) | &nbsp;&nbsp; 64<br>|
| [Life Insurance Benefit](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_3) | &nbsp;&nbsp; 65<br>|
| **[Additional Policy Provisions](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_3)** | &nbsp;&nbsp; 65<br>|
| [Limits On Our Rights To Challenge Your Policy](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_3) | &nbsp;&nbsp; 65<br>|
| [Suicide](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_4) | &nbsp;&nbsp; 66<br>|
| [Misstatement Of Age Or Gender](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_4) | &nbsp;&nbsp; 66<br>|
| [Assignment](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_4) | &nbsp;&nbsp; 66<br>|
| **[Surrenders](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_4)** | &nbsp;&nbsp; 66<br>|
| [Partial Surrenders](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_4) | &nbsp;&nbsp; 66<br>|
| [Amount Available For A Partial Surrender](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_4) | &nbsp;&nbsp; 66<br>|
| [Requesting A Partial Surrender](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_4) | &nbsp;&nbsp; 66<br>|
| [Surrender Charge Due To Partial Surrender](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_5) | &nbsp;&nbsp; 67<br>|
| [Periodic Partial Withdrawals](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_5) | &nbsp;&nbsp; 67<br>|
| [The Effect Of A Partial Surrender](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_5) | &nbsp;&nbsp; 67<br>|
| [Full Surrenders](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_6) | &nbsp;&nbsp; 68<br>|
| [Cash Surrender Value](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_6) | &nbsp;&nbsp; 68<br>|
| [Alternative Cash Surrender Value](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_6) | &nbsp;&nbsp; 68<br>|
| [Requesting A Surrender](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_7) | &nbsp;&nbsp; 69<br>|
| [When The Surrender Is Effective](#xx_ddb7d8b4-4ac8-4b40-b1d5-d695d94c6536_7) | &nbsp;&nbsp; 69<br>|
| **[Termination And Reinstatement](#xx_3408d11f-90ae-4772-9283-52e389649a85_1)** | &nbsp;&nbsp; 70<br>|
| [Late Period](#xx_3408d11f-90ae-4772-9283-52e389649a85_1) | &nbsp;&nbsp; 70<br>|
| [No Lapse Guarantee](#xx_3408d11f-90ae-4772-9283-52e389649a85_1) | &nbsp;&nbsp; 70<br>|
| [Reinstatement Option](#xx_3408d11f-90ae-4772-9283-52e389649a85_1) | &nbsp;&nbsp; 70<br>|
| **[Distribution And Compensation](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_1)**<br> **[Arrangements](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_1)**<br>| &nbsp;&nbsp; 72<br>|
| **[Federal Income Tax Considerations](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_1)** | &nbsp;&nbsp; 72<br>|
| [Our Intent](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_1) | &nbsp;&nbsp; 72<br>|
| [Tax Status Of NYLIAC And The Separate](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_1)<br> [Account](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_1)<br>| &nbsp;&nbsp; 72<br>|
| [Charges For Taxes](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_2) | &nbsp;&nbsp; 73<br>|
| [Diversification Standards And Control Issues](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_2) | &nbsp;&nbsp; 73<br>|
| [Life Insurance Status Of Policy](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_2) | &nbsp;&nbsp; 73<br>|
| [IRC Section 101(j)—Impact Of](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_3)<br> [Employer-Owned Policies](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_3)<br>| &nbsp;&nbsp; 74<br>|
| [Modified Endowment Contract Status](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_3) | &nbsp;&nbsp; 74<br>|
| [Status Of The Policy After The Insured Is Age](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_4)<br> [100](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_4)<br>| &nbsp;&nbsp; 75<br>|
| [Policy Surrenders And Partial Surrenders](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_5) | &nbsp;&nbsp; 76<br>|
| [3.8 Percent Medicare Tax On Certain](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_5)<br> [Investment Income](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_5)<br>| &nbsp;&nbsp; 76<br>|
| [Policy Loans And Interest Deductions](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_5) | &nbsp;&nbsp; 76<br>|
| [Exchanges, Sales Or Assignments Of Policies](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_5) | &nbsp;&nbsp; 76<br>|
| [Living Benefits Rider (Filed As Accelerated](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_6)<br> [Benefits Rider)](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_6)<br>| &nbsp;&nbsp; 77<br>|
| [Overloan Protection Rider](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_6) | &nbsp;&nbsp; 77<br>|

---

ii

------

---

| | |
|:---|:---|
|  | **Page** |
| [Withholding](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_6) | &nbsp;&nbsp; 77<br>|
| [Business Uses Of Policy](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_6) | &nbsp;&nbsp; 77<br>|
| [Non-Individual Owners And Business](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_7)<br> [Beneficiaries Of Policies](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_7)<br>| &nbsp;&nbsp; 78<br>|
| [Corporate Owners](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_7) | &nbsp;&nbsp; 78<br>|
| [Split-Dollar Arrangements](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_7) | &nbsp;&nbsp; 78<br>|
| [Tax Shelter Regulations](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_7) | &nbsp;&nbsp; 78<br>|
| [Other Tax Considerations](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_7) | &nbsp;&nbsp; 78<br>|
| [Life Insurance Purchases By Residents Of](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_8)<br> [Puerto Rico](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_8)<br>| &nbsp;&nbsp; 79<br>|

---

---

| | |
|:---|:---|
|  | **Page** |
| **[Legal Proceedings](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_8)** | &nbsp;&nbsp; 79<br>|
| **[Records And Reports](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_8)** | &nbsp;&nbsp; 79<br>|
| **[Financial Statements](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_8)** | &nbsp;&nbsp; 79<br>|
| **[State Variations and Rider Availability](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_9)** | &nbsp;&nbsp; 80<br>|
| [State Variations](#xx_ed90bc18-bc68-4a56-a196-13747f858daa_9) | &nbsp;&nbsp; 80<br>|
| [Appendix: Eligible Portfolios](#xx_e6ed6639-f693-4f22-a6cd-7396deac6ea0_1)<br> [Available Under the Policy](#xx_e6ed6639-f693-4f22-a6cd-7396deac6ea0_1)<br>| &nbsp;&nbsp; -<br> 85 <br>|
| [The Eligible Portfolios](#xx_e6ed6639-f693-4f22-a6cd-7396deac6ea0_1) | &nbsp;&nbsp; -<br> 85 <br>|
| **[Obtaining Additional Information](#xx_b9241c48-4cd3-4267-a614-3796a270d301_1)** | &nbsp;&nbsp; 97<br>|

---

iii

------

**Definitions**

------

**1933 Act:** The Securities Act of 1933, as amended.

**1940 Act:** The Investment Company Act of 1940, as amended.

**AAR:** Automatic Asset Rebalancing.

**Accumulation Units:** An accounting unit we use to calculate the portion of your Policy's Cash Value allocated to the Investment Divisions of the Separate Account.

**ACSV Expiry Date:** The date shown on the Policy Specifications Pages.

**Administrative Charge:** A monthly charge that is based on the Insured's class of risk, Issue Age, Policy duration and initial Face Amount.

**Alternative Cash Surrender Value or ACSV:** During the CVE Period, the Alternative Cash Surrender Value is equal to the Available Cash Value of your Policy plus the Cash Value Enhancement through the date of surrender. At the conclusion of the CVE Period and until the ACSV Expiry Date, the Alternative Cash Surrender Value is equal to the Available Cash Value of your Policy. See "Surrenders – Full Surrenders – Alternative Cash Surrender Value".

**Attained Age:** The insured's Issue Age, plus the number of Policy Years completed since the Issue Date.

**Available Cash Value:** The Cash Value minus any outstanding loans and accrued loan interest. Any Monthly Deduction Charges in excess of this amount will be deferred under the No Lapse Guarantee. See "Termination and Reinstatement—No Lapse Guarantee" for more information.

**Business Day:** Any day on which the New York Stock Exchange is open for regular trading. Our Business Day ends at 4:00 p.m. Eastern Time or the closing of regular trading on the New York Stock Exchange, if earlier. (Each Business Day is a Valuation Day).

**Cash Surrender Value:** The Cash Value, minus any surrender charges that may apply, minus any outstanding loans and accrued loan interest. This is the amount we will pay you if you surrender your policy. See "Surrenders" for more information.

**Cash Value:** The total value of your policy's accumulation units in the Separate Account Value, plus any amount in the Fixed Investment Options and the Loan Account.

**Cash Value Enhancement or CVE:** The Cash Value Enhancement is equal to the sum of all Premium Expense Charges, plus the sum of all Administrative Charges and Contract Charges, assessed from the issuance of the Policy, multiplied by the percentage shown in the Policy Specifications Pages.

**CVE Period:** Period defined in the Policy Specification Pages.

**Contract Charge:** A monthly charge that is deducted from the Cash Value of your Policy for the costs of providing certain administrative services, including premium collection, record-keeping, processing claims, and communicating with policyowners.

**Cost of Insurance Charge:** A monthly charge that is deducted from the Cash Value of your Policy for the costs of providing a Life Insurance Benefit.

**Cash Value Accumulation Test or CVAT:** An IRS test to determine whether a policy can be considered life insurance. See "Policy Payment Information—Life Insurance Benefit" for more information.

**Dollar-Cost Averaging ("DCA") Accounts:** The DCA Plus Account and the DCA Extension Account. The DCA Accounts are supported by the assets in NYLIAC's General Account. Although the DCA Accounts are considered Fixed Investment Options, they are not part of the Fixed Account.

**Dollar-Cost Averaging Extension ("DCA Extension") Account:** The dollar-cost averaging account used specifically for the DCA Extension Program. The amount in the DCA Extension Account earns interest at a rate which we declare periodically, but which will never be less than the Guaranteed Minimum Interest Rate. Interest accrues and is credited daily.

------

**Dollar-Cost Averaging Plus ("DCA Plus") Account:** The 12-month dollar-cost averaging account used specifically for the DCA Plus Program. The amount in the DCA Plus Account earns interest at a rate which we declare periodically, but which will never be less than the Guaranteed Minimum Interest Rate. Interest accrues and is credited daily.

**Eligible Portfolios ("Portfolios"):** The mutual fund portfolios of the Funds that are available for investment through the Investment Divisions of the Separate Account.

**Face Amount:** The dollar amount of life insurance under the policy. It equals the initial face amount shown on the Policy Specifications Page, minus any decreases to the initial face amount.

**FINRA:** The Financial Industry Regulatory Authority, Inc.

**Fixed Account:** An account we credit with a fixed interest rate that we declare periodically in advance, in our sole discretion. This rate can change, but will never be less than the Guaranteed Minimum Interest Rate. The Fixed Account is supported by assets in NYLIAC's General Account. The amount in the Fixed Account earns interest which accrues and is credited on a daily basis.

**Fixed Investment Options:** The Fixed Investment Options consist of the Fixed Account and the Dollar-Cost Averaging Accounts. Fixed Investment Options are part of NYLIAC's General Account.

**Fund:** An open-end management investment company.

**General Account:** An account representing all of NYLIAC's assets, liabilities, capital and surplus, income, gains, or losses that are not included in the Separate Account or any other separate account. These assets are subject to the claims of our general creditors. We allocate any Net Premium payments you make prior to the Initial Premium Transfer Date to this account.

**Good Order:** A request or transaction is in Good Order if it complies with our administrative procedures, and the required information is complete and correct. This means the actual receipt by us of your request and any instructions related to the request in writing (or, if permitted, by telephone or electronic means), along with all forms, and any other information or documentation necessary to complete the transaction. We may, in our sole discretion, determine whether any particular request or transaction is in Good Order. We may reject or delay a request or transaction if the information needed is not in Good Order. If you have any questions, you should contact us or your registered representative before submitting a form or request.

**Guaranteed Minimum Interest Rate or GMIR:** The guaranteed minimum interest crediting rate, which will never be less than 2% per annum.

**Guarantee Period:** The period of time during which the No Lapse Guarantee is in effect. Please see "Termination and Reinstatement—No-Lapse Guarantees" for more information.

**Guideline Premium Test or GPT:** An IRS test to determine whether a policy can be considered life insurance. See "Policy Payment Information—Life Insurance Benefit" for more information.

**Initial Premium:** A required planned minimum premium of $10,000 that must be paid during the first policy year. Funds resulting from an IRC Section 1035 exchange into the policy will not count toward the $10,000 required amount.

**Initial Premium Transfer Date:** The date on which initial Net Premiums and any accumulated interest is transferred from the General Account to the Investment Divisions, the Fixed Account, and/or the DCA Plus Account. The Initial Premium Transfer Date is generally the later of the Issue Date and the date we receive the full Initial Premium payment in Good Order.

**Investment Division:** A division of the Separate Account. Each Investment Division invests exclusively in shares of a specified Eligible Portfolio.

**Investment Options:** Policy investment options that consist of the Investment Divisions and the Fixed Investment Options.

**IRC:** Internal Revenue Code of 1986, as amended.

**IRS:** The Internal Revenue Service.

------

**Issue Age:** The Insured's age on the birthday nearest the Issue Date as specified on the Policy Specifications Page.

**Issue Date:** The date we issue the policy as specified on the Policy Specifications Page.

**Life Insurance Benefit:** The benefit calculated under the Policy.

**Life Insurance Proceeds:** The benefit we will pay to your beneficiary when we receive proof that the insured died while the policy is in effect. It is equal to the Life Insurance Benefit, plus any additional benefits under any riders you have chosen, minus any outstanding loans (including any accrued loan interest) and any unpaid or deferred Monthly Deduction Charges.

**Loan Account:** The Loan Account reflects that part of your Cash Value that has been transferred from the Investment Options as collateral for policy loans.

**Maximum Persistency Credit Percentage:** The maximum percentage shown in the Policy Specification Pages that we will apply to each tier of your Available Cash Value on a monthly basis if a persistency credit is paid. If paid, the actual percentage paid may be lower than the Maximum Persistency Credit Percentage.

**Modified Endowment Contract or MEC:** A modified endowment contract, which is a type of life insurance contract defined in Section 7702A of the Internal Revenue Code. For a description of MECs and the tax consequences of MEC status, please see "Federal Income Tax Considerations—Modified Endowment Contract Status" below.

**Monthly Deduction Charges:** The Contract Charge, the Cost of Insurance Charge, the Mortality and Expense Risk Charge, the Administrative Charge, and any applicable monthly rider charges deducted from your policy's Cash Value.

**Monthly Deduction Day:** The date that we deduct the Monthly Deduction Charges. The first Monthly Deduction Day will be the first monthly anniversary of the Policy Date on or following the later of the Issue Date and the date we receive the full Initial Premium payment in Good Order. If a Monthly Deduction Day falls on a day that is not a Business Day, the Monthly Deduction Charges will be deducted on the following Business Day.

**Mortality and Expense Risk Charge:** A monthly charge that is assessed to cover the risk that the group of lives that we have insured under our policies will not live as long as we expect (mortality risk); and the risk that the cost of issuing and administering the policies will be greater than we have anticipated (expense risk).

**Net Amount at Risk:** As of any Monthly Deduction Day, the difference between (i) the Life Insurance Benefit divided by 1.0032737, and (ii) the greater of the policy's Cash Value or the ACSV (if applicable) before Monthly Deduction Charges are subtracted. See "Deductions from Cash Value—Cost of Insurance Charge" for more information.

**Net Premium:** The balance of a premium payment after the Premium Expense Charge has been deducted.

**No Lapse Guarantee Minimum Monthly Premium:** An amount listed on the Policy Specifications Page. Although this premium is expressed as a monthly premium, you do not need to pay it on a monthly basis, as long as you pay a sufficient amount to pass the No Lapse Guarantee Premium Test. The No Lapse Guarantee Minimum Monthly Premium is recalculated based on any change in coverage, such as adding or deleting a rider, and/or a change in class of risk.

**No Lapse Guarantee Required Premium:** An amount equal to, on any Monthly Deduction Day, the cumulative sum of all No Lapse Guarantee Minimum Monthly Premiums from the Policy Date up to that Monthly Deduction Day.

**Non-Qualified Policy:** A variable universal life insurance policy that is not a Qualified Policy.

**NYLIAC:** New York Life Insurance and Annuity Corporation.

**NYLIC:** New York Life Insurance Company.

**NYLIFE Distributors:** NYLIFE Distributors, LLC.

**NYLIFE Securities:** NYLIFE Securities, LLC.

**Persistency Credit:** A credit we may apply to your policy's Available Cash Value as described in the "Description of the Policy – Non-Guaranteed Persistency Credit" section. The payment of the Persistency Credit is not guaranteed and may be discontinued at any time.

------

**Persistency Credit Start Date:** The date on which we may begin to apply a persistency credit to your policy's Available Cash Value. The Persistency Credit Start Date is dependent on the Issue Age and is shown on your Policy Specifications Pages.

**Policy or Market Wealth Plus:** Your Market Wealth Plus variable universal life policy.

**Policy Specifications Page:** The policy pages that provide information regarding your policy, such as policy Face Amount, premiums due and policy charges. May also be referred to as "Policy Data Pages" in riders or endorsements attached to your policy.

**Policy Date:** The date we use as the starting point for determining Policy Years and Monthly Deduction Days. You can find your Policy Date on the Policy Specifications Page.

**Policy Year:** The twelve-month period starting on the Policy Date, and each twelve-month period thereafter.

**Qualified Plan:** An employee benefit plan that is intended to qualify for special federal income tax treatment under Section 401(a) of the IRC.

**Qualified Policy:** A variable universal life insurance policy owned by a Qualified Plan.

**Request:** A signed written request in Good Order received at our VPSC, or any other address that we may indicate to you in writing, which gives us the facts that we need. When you write to us, please include the Policy number, the Insured's full name, and your current address.

**Sales Standards:**The criteria used to evaluate whether a recommended transaction, relating to your policy, complies with applicable standards of conduct.

**SEC:** The Securities and Exchange Commission.

**Separate Account:** NYLIAC Variable Universal Life Separate Account-I, a segregated asset account NYLIAC established to receive and invest Net Premiums that are allocated to the Investment Divisions. The Separate Account is divided into subaccounts that correspond to the Investment Divisions.

**Separate Account Value:** An amount equal to your policy's Accumulation Units in the Separate Account.

**Surrender Charge Period:** The period of time during which we may assess a surrender charge. See "Transaction Charges—Surrender Charges" for more information.

**Surrender Charge Premium:** The amount we use to calculate surrender charges, as set forth on the Policy Specifications Page.

**VPSC:** The Variable Products Service Center. You may contact the VPSC toll-free by calling 1-800-598-2019, or by sending correspondence to the addresses listed on the first page of this prospectus (or any other address we indicate to you in writing). See "Management and Organization—How to Reach Us for Policy Services" for more information.

**http://www.newyorklife.com:** Through www.newyorklife.com, you can get up-to-date information about your policy. See "Management and Organization—How to Reach Us for Policy Services" for more information.

------

**Important Information You Should Consider About the Policy**

------

**Fees and Expenses**<br>

---

| | |
|:---|:---|
| **Charges for Early** <br> **Withdrawals** <br>| If you fully surrender your policy for the Cash Surrender Value, partially surrender or <br> withdraw money from your policy within a maximum of 10 years following your <br> purchase of the policy, you may be assessed a maximum surrender charge equal to <br> the lesser of (a) or (b) where (a) equals 50% of the total premiums paid under the <br> Policy and (b) equals a percentage of the Surrender Charge Premium. Surrender <br> charges are not applicable on full surrenders of the policy for its ACSV.<br> For example, if you were to withdraw $100,000 during the first 10 years after your <br> policy purchase, the ACSV was not available, and your total premiums paid were <br> $100,000, then you could be assessed a charge of up to $50,000 on the amount <br> withdrawn.<br> For more detailed information, see the Prospectus, Table of Fees and Expenses; <br> Charges Associated with the Policy – Transaction Charges.  |

---

---

| | |
|:---|:---|
| **Transaction Charges**  | In addition to **surrender charges** for early withdrawals, you may be charged for other <br> transactions. These include **surrender charges** for Face Amount decreases, <br> **Premium Expense Charges** (deducted from each premium payment), and charges if <br> you exercise the Living Benefits Rider or the Overloan Protection Rider. A conditional <br> premium payment may be required if you exercise the Insurance Exchange Rider. A <br> withdrawal fee may apply if you make a withdrawal from the Premium Deposit <br> Account.<br> We reserve the right to impose **partial surrender fees**, **transfer charges** (when you <br> transfer Cash Value between Investment Options), and a **returned payment (bad** <br> **check) fee**, but we currently do not impose these charges.<br> For more detailed information, see the Prospectus, Table of Fees and Expenses; <br> Charges Associated with the Policy – Deductions From Premium Payments; Charges <br> Associated with the Policy – Transaction Charges. |

---

---

| | |
|:---|:---|
| **Ongoing Fees and** <br> **Expenses** (annual charges)  | In addition to surrender charges and transaction charges, an investment in the policy <br> is subject to certain ongoing fees and expenses. Some of these charges, such as the <br> **Cost of Insurance Charge**, the **Administrative Charge**, and certain rider charges <br> (for optional benefits), are set based on individual characteristics of the insured (e.g., <br> age, gender, and rating classification). Other ongoing charges include the **Contract** <br> **Charge**, the **Mortality and Expense Risk Charge**, loan interest, and certain rider <br> charges. Please refer to your Policy Specifications Page for rates and the specific <br> fees applicable to your policy.<br> Investors will also bear expenses associated with the Eligible Portfolios (portfolio <br> companies), as shown in the following table, which shows the minimum and <br> maximum total operating expenses deducted from Fund assets (before any fee <br> waiver or expense reimbursement) during the year ended December 31, 2025 and <br> which may change from year to year. |

---

------

**Fees and Expenses**<br>

---

| | | |
|:---|:---|:---|
| **Portfolios' Annual Operating Expenses (expenses that are deducted from** <br> **Portfolio assets)** | **Portfolios' Annual Operating Expenses (expenses that are deducted from** <br> **Portfolio assets)** | **Portfolios' Annual Operating Expenses (expenses that are deducted from** <br> **Portfolio assets)** |
| **Annual Fee** | **Minimum** | **Maximum** |
| Investment Options <br> (Eligible Portfolio fees <br> and expenses)<br>| 0.12% | 1.31% |
| For more detailed information, see the Prospectus, Table of Fees and Expenses; <br> Charges Associated with the Policy; and Appendix: Eligible Portfolios Available Under <br> the Policy for our list of available Eligible Portfolios, the current expenses for these <br> Portfolios, and the Average Annual Total Returns. | For more detailed information, see the Prospectus, Table of Fees and Expenses; <br> Charges Associated with the Policy; and Appendix: Eligible Portfolios Available Under <br> the Policy for our list of available Eligible Portfolios, the current expenses for these <br> Portfolios, and the Average Annual Total Returns. | For more detailed information, see the Prospectus, Table of Fees and Expenses; <br> Charges Associated with the Policy; and Appendix: Eligible Portfolios Available Under <br> the Policy for our list of available Eligible Portfolios, the current expenses for these <br> Portfolios, and the Average Annual Total Returns. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Risks**<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Risk of Loss** | You can lose money by investing in this policy, including loss of your premiums <br> (principal).<br> For more detailed information, see the Prospectus, Summary of Principal Risks of <br> Investing in the Policy; Management and Organization – About the Separate Account.<br>|
| **Not a Short-Term** <br> **Investment** <br>| This policy is not designed for short-term investing and is not appropriate for an <br> investor who needs ready access to cash.<br> The policy is designed to provide a Life Insurance Benefit or to help meet other <br> long-term financial objectives. Substantial fees, expenses, and tax implications in the <br> early years of the policy make variable life insurance unsuitable as a short-term <br> savings vehicle. Additionally, the policy may limit your ability to withdraw a portion of <br> the Cash Value through partial surrenders or loans.<br> For more detailed information, see the Prospectus, Summary of Principal Risks of <br> Investing in the Policy; Loans; and Surrenders–Partial Surrenders–Amount Available <br> for a Partial Surrender.<br>|
| **Risks Associated with** <br> **Investment Options** <br>| •An investment in this policy is subject to the risk of poor investment performance of <br> the Eligible Portfolios (portfolio companies) you choose, and the value of an <br> investment can vary depending on the performance of the Eligible Portfolios.<br>•Each investment option (the Eligible Portfolios and the Fixed Investment Options) <br> has its own unique risks. The performance of the Eligible Portfolios will vary, and <br> some are riskier than others.<br>•A discussion of the risks of allocating your premiums or Cash Value to one or more <br> Eligible Portfolios can be found in the prospectuses for the Eligible Portfolios, which <br> are available at https://dfinview.com/NewYorkLife/TAHD/marketwealthplus. You <br> should review the prospectuses for the Eligible Portfolios before making an <br> investment decision.<br> For more detailed information, see the Prospectus, Summary of Principal Risks of <br> Investing in the Policy; Management and Organization – About the Separate Account. <br>|

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| | |
|:---|:---|
| **Insurance Company Risks** | An investment in the policy is subject to the risks related to New York Life Insurance <br> and Annuity Corporation (NYLIAC), including:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;○Any obligations (including the Fixed Account and the DCA Accounts), <br> guarantees, and benefits of the policy are subject to the claims-paying ability and <br> financial strength of NYLIAC.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;○There are risks relating to NYLIAC's administration of the policy, including <br> cybersecurity and infectious disease outbreak risks.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;○If NYLIAC experiences financial distress, it may not be able to meet its <br> obligations to you. More information about NYLIAC, including its financial <br> strength ratings, is available upon request from NYLIAC at 1-800-598-2019.<br> For more detailed information, see the Prospectus, Management and Organization; <br> Financial Statements; Summary of Principal Risks of Investing in the Policy– <br> Insurance Company Risks; Risks Affecting Our Administration of the Policy.<br>|
| **Contract Lapse** | Your policy can lapse even if you pay all of the planned premiums on time. When a <br> policy lapses, it has no value, and no benefits are paid upon the death of the insured. <br> You may also lose the principal invested. A policy can lapse if the Cash Surrender <br> Value is insufficient to pay the **Monthly Deduction Charges** and other charges. This <br> can happen due to insufficient premium payments, poor investment performance, <br> partial surrenders, unpaid loans or loan interest, and policy charges (including <br> increases in those charges). The larger a policy loan becomes relative to the policy's <br> Cash Surrender Value, the greater the risk that the policy's Cash Surrender Value will <br> not be sufficient to support the policy's charges and expenses, including any loan <br> interest due, and the greater the risk of the policy lapsing. A policy lapse may have <br> tax consequences.<br> A policy that has a Cash Surrender Value just sufficient to cover **Monthly Deduction** <br> **Charges** and other charges, or that is otherwise minimally funded, is less likely to <br> maintain its Cash Surrender Value due to market fluctuation and other performance <br> related risks. To continue to keep your policy in force when the Guarantee Period <br> ends, premium payments significantly higher than the premium necessary to maintain <br> the No Lapse Guarantee benefit may be required.<br> If the policy lapses, there are costs and premium requirements associated with <br> reinstatement of the policy.<br> For more detailed information, see the Prospectus, Summary of Principal Risks of <br> Investing in the Policy; Termination and Reinstatement; Premiums - Risk of Minimally <br> Funded Policies.<br>|

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Restrictions**<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Investment Options** | •You can select a maximum of 21 Investment Options among the available <br> Investment Divisions (that invest in the Eligible Portfolios), the Fixed Account and/or <br> the DCA Accounts.<br>•The minimum amount that you can transfer is $500. The maximum amount that you <br> can transfer out of the Fixed Account in any Policy Year is the greater of (a) 20% of <br> the amount in the Fixed Account at the beginning of the Policy Year, or (b) $5,000.<br>•NYLIAC reserves the right to remove, substitute or close to investors any Eligible <br> Portfolios (portfolio companies) as Investment Options that are available under the <br> policy.<br>•We set limits on the number of electronic or telephonic transfer requests that can <br> be made in any period. If these limits are exceeded, any subsequent transfer <br> requests must be made by U.S. mail or overnight courier.<br>•In addition, we may limit your ability to make transfers involving the Investment <br> Divisions if a transfer may disadvantage or potentially harm or hurt the rights of <br> other policyowners in order to prevent market timing. We will also reject, reverse, or <br> modify a transfer request if for any reason any of the Eligible Portfolios do not <br> accept the purchase of its shares.<br> For more detailed information, see the Prospectus, Descriptions of the Policy - <br> Investment Divisions, the Fixed Account and the DCA Accounts; Descriptions of the <br> Policy - Transfers Among the Investment Divisions, the Fixed Account and the DCA <br> Accounts; Description of the Policy – Limits on Transfers; and Appendix: Eligible <br> Portfolios Available Under the Policy for our list of available Eligible Portfolios.<br>|
| **Optional Benefits** | •We may modify or discontinue offering an optional benefit at any time.<br> •There are limitations on the benefit amounts associated with some optional <br> benefits.<br>•Activation of certain optional benefits may affect the Face Amount, life insurance <br> proceeds or other rights under the policy.<br>•Some optional benefits have Policy Year limitations and/or age requirements.<br> •Some optional benefits may have tax implications.<br> •Some optional benefits may not be used together.<br> •We may change these restrictions in the future.<br> For more detailed information, see the Prospectus, Descriptions of the <br> Policy—Additional Benefits Through Riders and Options.<br>|

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Taxes**<br>

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|:---|:---|
| **Tax Implications**  | •Consult with a tax professional to determine the tax implications of an investment in <br> and payments received under this policy.<br>•Earnings on your policy (if any) are taxed when you withdraw them (or if a policy <br> loan is not repaid), at ordinary income tax rates, and may be subject to a tax <br> penalty before age 59 ½.<br> For more detailed information, see the Prospectus, Summary of Principal Risks of <br> Investing in the Policy–Tax Risks; Federal Income Tax Considerations.<br>|

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Conflicts of Interest**<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Investment Professional** <br> **Compensation** <br>| Your investment professional may receive compensation for selling this policy to you, <br> in the form of commissions, asset-based compensation, allowances for expenses, <br> and other compensation programs, and because NYLIAC may share the revenue it <br> earns on this policy with the professional's firm. (Your investment professional may be <br> your registered representative, broker, investment adviser, insurance agent, or <br> someone else).<br> These investment professionals may have a financial incentive to recommend this <br> policy over another policy or investment.<br> For more detailed information, see the Prospectus, Distribution and Compensation <br> Arrangements.<br>|
| **Exchanges** | Some investment professionals may have a financial incentive to offer you a new <br> policy in place of the one you own. You should only exchange your policy if you <br> determine, after comparing the features, fees, and risks of both policies, that it is <br> preferable for you to purchase the new policy rather than continue to own your <br> existing policy. The ACSV is not available for IRC Section 1035 exchanges to another <br> life insurance policy.<br> For more detailed information, see the Prospectus, Description of the <br> Policy–Tax-Free "Section 1035" Insurance Policy Exchanges.<br>|

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**Overview of the Policy**

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***1.*** ***Purposes of the Policy***

This policy provides permanent life insurance coverage with the potential for tax-deferred Cash Value accumulation that can, over time, become a valuable asset. The policy is offered by NYLIAC. The policy offers (1) life insurance protection, (2) flexible premium payments where you decide the timing and amount of each payment, (3) the ability to decrease the policy's Face Amount (within certain limits), (4) access to the policy's Cash Surrender Value through loans and partial surrenders, (5) access to the policy's ACSV through full surrenders within the first 10 Policy Years, and (6) the ability to invest in up to 21 Investment Options. The policy is designed to be long-term life insurance coverage. It is not suitable as a short-term investment vehicle. See the Prospectus, "Your Policy".

***2.*** ***Flexible Premiums***

Policy premium payments are flexible; other than the required initial minimum premium payment, you can select the time and amount of premium you pay, within limits. In certain circumstances, we can limit the amount of premium payments and/or require insurance underwriting before we accept additional premiums. See the Prospectus, "Premiums."

Since the potential Cash Value growth can be used for income, this policy is designed to offer the best potential benefit when it is adequately funded for at least seven years. As long as the Cash Surrender Value is sufficient to cover the policy's Monthly Deduction Charges, you can increase (within certain limits), decrease (within certain limits), or stop making premium payments to meet your changing needs.

Although you may have a schedule of planned premiums, **your policy can lapse even if you pay all of the planned premiums on time**. When a policy lapses, it has no value, and no benefits are paid upon the death of the insured. You may also lose the principal invested. Note that termination and lapse have the same meaning throughout this prospectus.

This policy offers you a choice of Investment Options, including the available Investment Divisions, the Fixed Account, and the DCA Accounts. Your premium payments, minus any applicable charges, are allocated to the Investment Options according to your instructions. Net Premiums allocated to the Investment Divisions are invested in NYLIAC Variable Universal Life Separate Account-I (the "Separate Account"). You can choose a maximum of 21 Investment Options for the allocation of Net Premium payments or for the transfer of Cash Value among the available Investment Options.

Additional information regarding the Investment Divisions and the Portfolio Companies (the "Eligible Portfolios") that they invest in is provided in the Appendix to this prospectus (See "Appendix: Eligible Portfolios Available Under the Policy").

***3.*** ***Summary of Primary Features***

The policy offers a variety of important features and benefits, including the following:

*Life Insurance Benefit*

The policy offers a Life Insurance Benefit (death benefit) equal to the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;● &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the Face Amount of the Policy, minus any decreases to the Face Amount in accordance with the provisions of this Policy: or

&nbsp;&nbsp;&nbsp;&nbsp;● &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) a percentage of the Cash Value or the ACSV, if available, that is equal to the minimum amount necessary for your policy to qualify as life insurance under IRC Section 7702, as shown on your Policy Specifications Pages.

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*Changing the Face Amount of Your Policy*

With the policy, you are able to decrease the policy's Face Amount (within certain limits). To request a decrease of the policy's Face Amount, you must send a Request. Decreases in Face Amount can incur surrender charges. See the Prospectus, "Policy Payment Information - Changing the Face Amount of Your Policy."

*No Lapse Guarantees*

The Policy offers a No Lapse Guarantee. This ensures that your Policy will remain in effect during the Guarantee Period, provided that your Policy premium payments satisfy the No Lapse Guarantee Premium Test on each Monthly Deduction Day. This benefit prevents your Policy from lapsing during the Guarantee Period, even if your Policy's Cash Surrender Value is insufficient to cover your Monthly Deduction Charges. The Guarantee Period is 10 years from the Policy Date. The No Lapse Guarantee will become inactive before the end of the Guarantee Period if, on any Monthly Deduction Day, your premium payments do not pass the No Lapse Guarantee Premium Test. If this occurs, you will have the opportunity to reactivate the No Lapse Guarantee by paying an additional premium amount necessary to satisfy the No Lapse Guarantee Premium Test. When the No Lapse Guarantee ends, if there is insufficient Cash Surrender Value to cover the current and any deferred Monthly Deduction Charges, you will be sent a notice of payment due. If that amount is not paid, the Policy will enter into the late period. See the Prospectus, "Termination and Reinstatement – No Lapse Guarantees".

*Cash Value*

The Policy has a **Cash Value**, which is the total value of your policy's accumulation units in the Separate Account, plus any amount in the Fixed Investment Options and the Loan Account. With the policy, you have the potential for higher and lower rates of return and Cash Value accumulation than with a fixed rate life insurance policy. The Cash Value varies due to performance of the Investment Divisions selected, interest credited to the Fixed Account and/or the DCA Accounts, outstanding loans (including loan interest), charges we deduct, your premium payments, and non-guaranteed Persistency Credits (if any).

We will pay you either the **Cash Surrender Value** or the **Alternative Cash Surrender Value ("ACSV")** if you surrender the policy. The Cash Surrender Value is equal to the Cash Value, *minus* any surrender charges that may apply, *minus* any outstanding loans and accrued loan interest. See the Prospectus, "Description of the Policy – Cash Value". For a period of 10 Policy Years from the Policy Date, while the insured is still living, the Policy will have an ACSV. During the CVE Period, the ACSV is equal to the Available Cash Value of your Policy plus the Cash Value Enhancement through the date of surrender. At the conclusion of the CVE Period and until the ACSV Expiry Date, the ACSV is equal to the Available Cash Value of your Policy. After the ASCV Expiry Date or upon lapse of the Policy, the ACSV is equal to zero. You may be eligible to receive the ACSV if you fully surrender your policy within the first 10 Policy Years. See the Prospectus, "Surrenders-Full Surrenders-Alternative Cash Surrender Value". If you are not eligible to receive the ACSV, you will be paid the Cash Surrender Value.

*Non-guaranteed Persistency Credit* 

On your Persistency Credit Start Date, we may apply a Persistency Credit to your policy's Available Cash Value on each Monthly Deduction Day. The amount of the Persistency Credit is dependent on Attained Age and the policy's Available Cash Value. Any Available Cash Value under $250,000 will not earn any Persistency Credit. If it is paid, the Persistency Credit will be applied proportionally to the Available Cash Value in each of the Investment Divisions and the Fixed Account. For tax purposes, the Persistency Credit is considered investment experience, not premium. Your policy's Persistency Credit is not guaranteed, and we may discontinue this feature at any time. For more information on the Persistency Credit, please contact your registered representative and for additional information, including how the Persistency Credit is calculated, see the Prospectus, "Description of the Policy – Investment Divisions, The Fixed Account and the DCA Accounts - Non-Guaranteed Persistency Credit."

*Liquidity through Loans and Partial Surrenders*

You can access your policy's Cash Value through loans. Your policy value will be used as collateral to secure any policy loan. You can borrow any amount up to the loan value of the policy. See "Loans" in the Prospectus.

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You can also request a partial surrender. Partial surrenders will reduce the policy's Cash Value and can reduce your policy's Face Amount and/or Life Insurance Benefit. If a partial surrender would cause the policy to fall below its minimum Face Amount requirement, we reserve the right to require a full surrender. Surrender charges may apply. Partial surrenders can result in a taxable event. Loans and Partial Surrenders can affect the No Lapse Guarantee. Please consult your tax advisor regarding the tax implications of a partial surrender. Also note that certain partial surrender requests must be made in writing and sent to the VPSC at one of the addresses listed on the first page of this summary prospectus (or any other address we indicate to you in writing). See the Prospectus, "Surrenders."

*Investment Options*

This policy offers you a choice of Investment Options, including the available Investment Divisions and the Fixed Investment Options. You can choose a maximum of 21 Investment Options for the allocation of Net Premium payments or for the transfer of Cash Value among the available Investment Options. Transfers among the Investment Options can be made tax-free, within the limits described in the prospectus. You can change the Investment Options in which you invest throughout the life of the policy. See the Prospectus, "Management and Organization - The Fixed Account and the DCA Accounts" and "- Funds and Eligible Portfolios" and the Appendix: Eligible Portfolios Available Under the Policy.

*Automated Investment Features*

There are six administrative options available to help you manage your policy's Cash Value and to adjust the investment allocation to suit changing needs. These options are: Automatic Asset Rebalancing, Dollar-Cost Averaging (DCA), Dollar-Cost Averaging Plus, Dollar-Cost Averaging Extension, Expense Allocation, and Interest Sweep. See the Prospectus, "Description of the Policy - Additional Benefits Through Riders and Options."

*Optional Riders*

The policy offers additional insurance coverage and other benefits through optional riders, including accelerated death benefits, spousal insurance benefits and overloan protection against lapse. Certain riders may have costs associated with them. These benefits and costs are summarized in the Table contained in the section on "Description of the Policy - Additional Benefits Through Riders and Options" in the Prospectus.

*Policyowner Support*

As a policyowner, you have access to the following resources if you have questions about your insurance policy: (1) online service at www.newyorklife.com, a password-protected Internet website, (2) the New York Life Insurance Company Mobile Application ("mobile application") available for download on the Apple App Store and Google Play Store, (3) toll-free telephone support through the VPSC (1-800-598-2019), and (4) your registered representative. Certain service requests must be in writing and all must be in Good Order. Specific requirements applicable to any service request are described later in this prospectus. See "Management and Organization - How to Reach Us for Policy Services" in the Prospectus.

*A Highly-Rated Company*

New York Life Insurance and Annuity Corporation ("NYLIAC") is a subsidiary of New York Life Insurance Company ("NYLIC"). NYLIC has over 180 years of experience in the offering of insurance products. NYLIAC has received the following ratings: A++ (Superior) from A.M. Best; AAA (Exceptionally Strong) from Fitch; Aa1 (Strong) from Moody's; and AA+ (Very Strong) from Standards and Poor's. Ratings reflect only NYLIAC's General Account, which are applicable to the Fixed Investment Options and NYLIAC's claims-paying ability and financial strength. Ratings are not applicable to the Investment Divisions, which are not guaranteed. NYLIAC's obligations under the policy are subject to its claims-paying ability and financial strength, and are not backed or guaranteed by NYLIC.

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**Table of Fees and Expenses**

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**The following tables describe the fees and expenses that you will pay when buying, owning and surrendering the Policy or making partial surrenders. Please refer to your Policy Specifications Page for information about the guaranteed maximum fees you will pay each year based on the options you have elected. Please refer to "State Variations and Rider Availability" in the Prospectus for any fees that may differ from the general description provided below.**

**The first table describes the fees and expenses that you will pay when you make a premium payment, surrender the policy, make a partial surrender, transfer Cash Value between Investment Options, or exercise certain rider options.** 

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| | | |
|:---|:---|:---|
| **Transaction Fees** | **Transaction Fees** | **Transaction Fees** |
| **Charge** | **When charge Is Deducted** | **Amount Deducted** |
| Premium Expense Charge<sup>1</sup> <br>| When premium payment is applied | **<u>Guaranteed Maximum:</u> 8.0% of** <br> **premiums paid**<br> **<u>Current:</u> 4.0% of premiums paid**<br>|
| Deferred Sales Charge<sup>2</sup> <br>|  |  |
| •Surrender | On Surrender or lapse during the <br> applicable Surrender Charge Period;<br> On Face Amount decreases within <br> the applicable Surrender Charge <br> Period; <br> After a Surrender, Lapse or Face <br> Amount decrease during the <br> applicable Surrender Charge Period<br>| **<u>Minimum and Maximum</u>** <br> **<u>Guaranteed Charge</u>**<sup>3</sup>**:** <br> **$11.57—$42.18 per $1000 of Face** <br> **Amount**<br> **<u>Minimum and Maximum Current</u>** <br> **<u>Charge</u>: $11.57—$42.18 per $1000** <br> **of Face Amount**<br>|

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|:---|:---|
| *Maximum Guaranteed Charge for a* <br> *Representative Investor (Male, Age* <br> *40, Premier rating) for $250,000 of* <br> *Face Amount*<br>| **$22.17 per $1000 of Face Amount** |
| *Current Charge for a Representative* <br> *Investor (Male, Age 40, Premier* <br> *Rating) for $250,000 of Face Amount*<br>| **$22.17 per $1000 of Face Amount** |

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|:---|:---|:---|
| Partial Surrender Fee | At time of partial surrender | **<u>Guaranteed Maximum:</u> $25**<br> **<u>Current:</u> $0**<br>|
| Transfer Charge | At time of transfer | **<u>Guaranteed Maximum:</u> $30 per** <br> **transfer in excess of 12 transfers** <br> **within a Policy Year**<br> **<u>Current:</u> $0**<br>|
| Returned Payment (Bad Check) Fee | At time payment is returned | **<u>Guaranteed Maximum:</u> $20**<br> **<u>Current:</u> $0**<br>|
| Living Benefits Rider Fee | When you exercise the benefit | **$150 (one time)** |
| Overloan Protection Rider Fee<sup>(4)</sup> <br>| When you exercise the benefit | **<u>Guaranteed Maximum of the</u>** <br> **<u>Policy's</u> Cash Value: 8.5%**<br> **<u>Minimum Guaranteed of the</u>** <br> **<u>Policy's Cash Value</u>: 1.0%**<br>|

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| | | |
|:---|:---|:---|
| **Transaction Fees** | **Transaction Fees** | **Transaction Fees** |
| **Charge** | **When charge Is Deducted** | **Amount Deducted** |

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|:---|:---|
| *Maximum Guaranteed Charge for a* <br> *Representative Investor with Attained* <br> *Age 87*<br>| **5.5% of Cash Value** |
| *Current Charge for a Representative* <br> *Investor with Attained Age 87*<br>| **5.5% of Cash Value** |

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|:---|:---|
| Premium Deposit Account <br> Withdrawal Fee<br>| At time of withdrawal from the <br> Premium Deposit Account<br>|
| Insurance Exchange Rider | When you exercise the benefit<br> **A one-time payment equal to 103%** <br> **of the excess amount of the Cash** <br> **Surrender Value of the new policy** <br> **over the Cash Surrender Value of** <br> **the existing policy at the time of** <br> **exercise. If there is not excess** <br> **amount, the one-time fee will not** <br> **be charged.**<sup>5</sup> <br>|

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The current Premium Expense Charge includes a state premium tax component of 2.00%; a sales expense component of 0.75%; and, as a non-qualified policy, a federal tax component of 1.25% is also included.

Exceptions to Surrender Charge. We will not deduct a surrender charge if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● If you fully surrender the Policy for the ACSV while the ACSV is available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● We cancel the policy (other than policy lapse) pursuant to the Policy's contestability provisions (See Additional Policy Provisions—Limits on Our Rights to Challenge Your Policy);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● We pay proceeds upon the death of the insured;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● We pay a required Internal Revenue Service minimum distribution; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The policy is out of the Surrender Charge Period.

The Guaranteed Maximum charge illustrated above is for a Male, Age 60, Quality Rating and a $10,000 planned premium. Your surrender charge will be the lesser of 50% of total premiums paid under the policy or a percentage of the Surrender Charge Premium applicable to the Policy Year. The percentage of the Surrender Charge Premium applicable by Policy Year is: 94% for Policy Year 1; 89% for Policy Year 2; 84% for Policy Year 3; 79% for Policy Year 4; 74% for Policy Year 5; 62% for Policy Year 6; 49% for Policy Year 7; 36% for Policy Year 8; 23% for Policy Year 9, 10% for Policy Year 10 and 0% for Policy Year 11 and beyond. See "Charges Associated with the Policy — Transaction Charges — Surrender Charges" in the full prospectus for more information on the calculation of Surrender Charges. The Surrender Charge Premium varies based on individual characteristics, such as gender, Issue Age, and Policy Year. The charge shown may not be representative of what you will pay. To obtain more information about particular changes as they apply to your policy, please contact your registered representative. For a Face Amount decrease, the Surrender Charge is equal to the difference between (1) and (2), where (1) is the Surrender Charge calculated on the original Face Amount, and (2) is the Surrender Charge calculated on the new decreased Face Amount.

This cost varies based on characteristics of the insured and the charge shown may not be representative of the charge you will pay. To obtain more information about particular cost of insurance and other charges as they apply to your policy, please contact your registered representative.

If the Cash Surrender Value of the new policy after the exchange is zero or lower, then a payment in an amount sufficient to keep the new policy in effect for two months following the date of exchange will be required. This payment will be treated as a premium payment and will be applied to your policy

**The next table describes the fees and expenses that you will pay periodically during the time that you own the policy, excluding the Eligible Portfolios' fees and expenses.** 

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| | | |
|:---|:---|:---|
| **Periodic Charges Other Than Portfolios' Annual Operating Expenses** | **Periodic Charges Other Than Portfolios' Annual Operating Expenses** | **Periodic Charges Other Than Portfolios' Annual Operating Expenses** |
| **Charge** | **When Charge Is Deducted** | **Amount Deducted** |
| Contract Charge | Monthly to Age 121 | **<u>Guaranteed Maximum:</u> $15 per** <br> **month**<br> **<u>Current:</u> $10 per month**<br>|
| Cost of Insurance Charge<sup>1</sup> <br>| Monthly to Age 121 | **Charge per month per $1000 of** <br> **Net Amount at Risk**<br>**<u>Minimum and Maximum</u>** <br> **<u>Guaranteed Charge</u>:** <br> **$0.0067—$83.33**<br> **<u>Minimum and Maximum Current</u>** <br> **<u>Charge</u>: $0.0067—$66.477**<br>|

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|:---|:---|
| *Maximum Guaranteed Charge for a* <br> *Representative Investor (Male, Age* <br> *40, Premier Rating) for $250,000* <br> *Face Amount*<br>| **$0.17186 per month for the first** <br> **Policy Year**<br>|
| *Current Charge for a Representative* <br> *Investor (Male, Age 40, Premier* <br> *Rating) for $250,000 Face Amount*<br>| **$0.03117 per month for the first** <br> **Policy Year.**<br>|

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|:---|:---|:---|
| Mortality & Expense<br> Risk Charge<br>| Each Monthly Deduction Day | **<u>Guaranteed Maximum:</u> 0.75%** <br> **charged as an annual percentage** <br> **of the Separate Account Value**<br> **<u>Current:</u> 0.00% charged as an** <br> **annual percentage of the Separate** <br> **Account Value**<br>|
| Administrative<br> Charge<sup>1</sup> <br>| Each Monthly Deduction Day | **Charge per $1000 of Face Amount**<br> **<u>Guaranteed Maximum:</u> $0.75 per** <br> **month**<br> **<u>Minimum:</u> $0.04 per month.** <br>|

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|:---|:---|
| *Charge for a Representative Investor* <br> *(Male, Age 40, Premier Rating) for* <br> *$250,000 of initial Face Amount*<br>| **$0.22275 per month.** <br> **(Initial Charge is based on the** <br> **Issue Age, gender, class of risk** <br> **and initial Face Amount at issue)**<br>|

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| | | |
|:---|:---|:---|
| Loan Interest | Accrues daily and compounds <br> annually (while loan balance is <br> outstanding)<sup>2</sup> <br>| **Annual charge rate as percentage** <br> **of the loan**<br> **<u>Guaranteed Maximum:</u> 6.00%**<br> **<u>Current:</u> 3.00%**<sup>3</sup> <br>|

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This cost varies based on characteristics of the insured and the charge shown may not be representative of the charge you will pay. To obtain more information about particular cost of insurance and other charges as they apply to your policy, please contact your registered representative.

Loan interest accrues daily but is not deducted from the policy's Cash Value. Any loan interest not paid when due will become part of the policy loan and will also accrue interest. See "When Loan Interest is Due" for additional information. The interest charged on loaned amounts is partially offset by the interest we credit to the Loan Account, which will always be at a rate at least equal to the Guaranteed Minimum Interest Rate. See "Interest Credited on the Cash Value Held as Collateral for a Policy Loan" for additional information.

The current loan interest rate is reduced to 2.00% annually in Policy Years 11 and beyond.

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***Eligible Portfolios' Annual Operating Expenses***

**The next table shows the minimum and maximum total operating expenses deducted from Portfolio assets during the year ended December 31, 2025. Portfolio expenses may change from year to year, and hence may be higher or lower in the future. You may pay these expenses periodically during the time that your Cash Value is invested in the Investment Divisions of the Separate Account. A complete list of the underlying Eligible Portfolios, including information concerning each underlying Portfolio's annual fees and expenses, is contained in an Appendix at the back of this prospectus.** 

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| | | |
|:---|:---|:---|
| ***Annual Portfolio Expenses***<sup>1</sup> | **Minimum** | **Maximum** |
| **Total Annual Portfolio Operating Expenses** (expenses that are <br> deducted from portfolio assets, including management fees, distribution <br> (12b-1) fees, and other expenses)<br>| 0.12% | 1.31% |
| **Net Annual Portfolio Operating Expenses** (expenses that are deducted <br> from portfolio assets, including management fees, distribution (12b-1) fees, <br> and other expenses, after any expense reimbursement or fee waiver <br> arrangements)<sup>2</sup> <br>| 0.12% | 1.16% |

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Expressed as a percentage of average net assets for the fiscal year ended December 31, 2025. Portfolio expenses may be higher or lower in the future. This information is provided by the Portfolios and their agents. The information is based on 2025 expenses.

The range of Net Annual Portfolio Operating Expenses takes into account contractual arrangements for the Portfolios that require a Portfolio's investment adviser to reimburse or waive portfolio expenses through at least April 30, 2027.

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**Summary of Principal Risks of Investing in the Policy**

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Many benefits of the Market Wealth Plus life insurance policies have a corresponding risk, and both benefits and risks should be considered before you purchase the Policy. More complete and detailed information about the features of the Policy is provided in this prospectus and in the SAI. See "Overview of the Policy—3. Summary of Primary Features." Capitalized terms used in this prospectus have the same meaning as in the "Definitions" section above.

***Investment Risk***

While a variable policy has the potential for a higher rate of return than a fixed rate policy, investment returns on the assets in the Separate Account may decline in value, and you can lose principal. Each Investment Division has its own investment objective and investment strategy. The performance of each will vary, and some Investment Divisions are riskier than others. We do not guarantee the investment performance of the Investment Divisions or Eligible Portfolios. You bear the entire investment risk for all amounts allocated to the Separate Account Investment Divisions. Your premium and Cash Value allocation choices should be consistent with your personal investment objective and your risk tolerance.

***Not a Short-Term Investment***

In addition, a variable life insurance policy is designed to provide a Life Insurance Benefit or to help meet other long-term financial objectives. Substantial fees, expenses, and tax implications generally make variable life insurance unsuitable as a short-term savings vehicle. Additionally, the policy may limit your ability to withdraw a portion of the Cash Value through partial surrenders. (See "Loans", and "Surrenders—Partial Surrenders—Amount Available for a Partial Surrender".)

***Portfolio Risks***

The Investment Divisions involve the risk of poor investment performance. A discussion of the risks of allocating Cash Value to each of the Investment Divisions can be found in the corresponding Fund's prospectus.

***Risk of Lapse (especially on minimally-funded policies)***

Your policy can lapse even if you pay all of the planned premiums on time. When a policy lapses, it has no value, and no benefits are paid upon the death of the insured. You may also lose the principal invested. Note that termination and lapse have the same meaning and effect throughout this prospectus.

A policy that has a Cash Surrender Value just sufficient to cover Monthly Deduction Charges and other charges, or that is otherwise minimally funded, is less likely to maintain its Cash Surrender Value due to market fluctuation and other performance related risks. To continue to keep your policy in force when the Guarantee Period ends, premium payments significantly higher than the premium necessary to maintain the No Lapse Guarantee benefit may be required. In addition, by paying only the minimum required monthly premium for the No Lapse Guarantee, you may forego the opportunity to build up significant Cash Value in the policy. When initially determining the amount of your planned premium payments, you should consider funding your policy at a level that has the potential to maximize the investment opportunities within your policy and to minimize the risks associated with market fluctuations.

***Risk of Lapse from Policy Loans***

The larger a policy loan becomes relative to the policy's Cash Surrender Value, the greater the risk that the policy's Cash Surrender Value will not be sufficient to support the policy's charges and expenses, including any loan interest due, and the greater the risk of the policy lapsing. Any loan interest payable on a policy anniversary that you do not pay will become part of the outstanding policy loan principal and will also accrue interest.

A loan, repaid or not, has a permanent effect on your Cash Value. The effect could be favorable if the Investment Divisions earn less than the interest rate credited on the loan amount in the Loan Account, or unfavorable, if the Investment Divisions earn more. The longer a loan is outstanding, the greater the effect on your Cash Value. If it is not repaid, the aggregate amount of the outstanding loan principal and any accrued interest will reduce the Life Insurance Proceeds that might otherwise be paid.

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Unless your policy qualifies as a modified endowment contract, policy loans are not taxable. However, if loans taken, including unpaid loan interest, exceed the premiums paid, a policy surrender or lapse will result in a taxable event for you. If a policy is a modified endowment contract, a loan may result in taxable income and penalty taxes to you.

***Limitations on Access to Cash Value (Liquidity Risk)***

The Policy is generally not a liquid investment. Surrender charges will apply during the Surrender Charge Period. The policy is designed for long-term life insurance coverage. It is not suitable as a short-term investment vehicle. There are limitations on your ability to access your cash value through full and partial surrenders, including surrender charges, partial surrender fees, possible tax consequences, adverse impacts on policy benefits, increased risk of policy lapse, and administrative requirements.

A partial surrender will reduce your policy's Cash Value by the amount withdrawn. If the policy's Cash Surrender Value is reduced to a point where it cannot meet the Monthly Deduction Charges, your policy may lapse and terminate. A partial surrender may also reduce your policy's Face Amount and may have adverse tax consequences.

Accessing Cash Value through policy loans also has costs, increases the risk of policy lapse, may have adverse tax consequences, and may negatively impact your Cash Value and other policy benefits.

***Tax Risks***

The section of this prospectus entitled "Federal Income Tax Considerations" describes a number of tax issues that may arise in connection with the policy. These risks include: (1) the possibility that the IRS may interpret the rules that apply to variable universal life insurance contracts in a manner that could result in you being treated as the owner of your policy's pro rata portion of the assets of the Separate Account; (2) the possibility that the IRS may take the position that the policy does not qualify as life insurance for tax purposes; (3) the possibility that, as a result of policy transactions, including the payment of premiums or increases or decreases in policy benefits, the policy may be treated as a modified endowment contract for federal income tax purposes, with special rules that apply to policy distributions, including loans; (4) in general, the possibility that the policy may not qualify as life insurance under the federal tax law after the insured becomes age 100 and that the owner may be subject to adverse tax consequences at that time; (5) whether and to what extent the Life Insurance Benefit may be received on a tax-free basis in the case of employer-owned life insurance contracts; and (6) the possibility that the IRS may treat a loan as a taxable distribution if there is no spread, or a very small spread, between the interest rate charged on the loan and the interest rate credited on the loaned amount. In addition, Congress may change the present federal income tax laws that apply to your policy, or the IRS may change current interpretations thereof, which change may occur without notice, and could have retroactive effects, regardless of the date of enactment or publication, as the case may be.

***Potential for Increased Charges***

The actual charges deducted are current charges on your policy. However, we have the right to increase those charges at any time up to the guaranteed maximum charges specified in the fee table and as stated in your policy. (See "Table of Fees and Expenses" for more information.)

***Potentially Harmful Transfer Activity***

This policy is not designed as a vehicle for market timing. Accordingly, your ability to make transfers under the policy is subject to limitation if we determine, in our sole opinion, that the exercise of that privilege may disadvantage or potentially hurt the rights or interests of other policyowners. We have limitations and restrictions on transfer activity (see "Description of the Policy—Limits on Transfers" for more information). We cannot guarantee that these limitations and restrictions will be effective in detecting and preventing all transfer activity that could potentially disadvantage or hurt the rights or interests of other policyowners. Potentially harmful transfer activity could result in reduced performance results for one or more Investment Divisions, due to among other things:

&nbsp;&nbsp;&nbsp;&nbsp;● portfolio management decisions driven by the need to maintain higher than normal liquidity or the inability to sustain an investment objective;

&nbsp;&nbsp;&nbsp;&nbsp;● increased administrative and Fund brokerage expenses; and/or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;● dilution of the interests of long-term investors.

An underlying Fund portfolio may reject any order from us if it suspects potentially harmful transfer activity, thereby preventing us from implementing your request for a transfer. (See "Description of the Policy—Limits on Transfers" for more information on the risks of frequent trading.)

***Potential for Low Crediting Rates***

The rates we declare on the Fixed Account, DCA Accounts and Loan Account may be lower than what you would find acceptable.

***Insurance Company Risks; Risks Affecting our Administration of Your Policy***

NYLIAC's business activity and operations, and/or the activities and operations of our service providers and business partners, are subject to certain risks, including, those resulting from information systems failures, cyber-attack/ransomware, or current or future outbreaks of infectious diseases, viruses (including COVID-19), epidemics or pandemics ("serious infectious disease outbreaks"). These risks are common to all insurers and financial service providers and may materially impact our ability to administer the policy (and to keep policyowner information confidential). (See "Management and Organization—Information Systems Failures and Cybersecurity Risks" for more information on information systems failures and cybersecurity risks and "Management and Organization—Risks from Serious Infectious Disease Outbreaks" for more information on risks from serious infectious disease outbreaks.)

NYLIAC's obligations under the policy are subject to its claims-paying ability and financial strength, and are not backed or guaranteed by NYLIC.

**Management And Organization**

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***Insurer***

New York Life Insurance and Annuity Corporation

(a wholly owned subsidiary of New York Life Insurance Company)

51 Madison Avenue

New York, NY 10010

***Your Policy***

The policy is offered by NYLIAC, and NYLIAC is obligated to pay all amounts promised to policyowners under the policies. Net Premiums allocated to the Investment Divisions are invested in NYLIAC Variable Universal Life Separate Account-I (the "Separate Account"). The policy offers (1) life insurance protection, (2) flexible premium payments where you decide the timing and amount of each payment, (3) the ability to decrease the policy's Face Amount (within certain limits), (4) access to the policy's Cash Surrender Value through loans and partial surrenders, (5) access to the policy's ACSV on full surrenders within the first 10 policy years, and (6) the ability to invest in up to 21 Investment Options—including the Investment Divisions, the Fixed Account and/or the DCA Accounts.

The policies are variable. This means that the Cash Value allocated to the Separate Account will fluctuate based on the investment experience of the Investment Divisions you select. The interest credited on the money allocated to the Fixed Account and the DCA Accounts may also vary. NYLIAC does not guarantee the investment performance of the Separate Account or of the Eligible Portfolios. You bear the entire investment risk with respect to amounts allocated to the Investment Divisions of the Separate Account. Each Investment Division has its own investment objective and investment strategy. As a consequence, some Investment Divisions are riskier than others. We offer no assurance that the investment objectives of the Investment Divisions will be achieved. Accordingly, amounts allocated to the Investment Divisions of the Separate Account are subject to the risks inherent in the securities markets and, specifically, to price fluctuations in the Eligible Portfolios' investments.

Certain provisions of the policies may differ from the general description in this prospectus, and certain riders and options may not be available because of legal requirements or restrictions in your state. The material state variations are specified in the "State Variations and Rider Availability" appendix to this prospectus. All state variations will be

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included in your policy, or in riders or endorsements attached to your policy. Please contact your registered representative or us for specific information that may be applicable to your state.

***About the Separate Account***

NYLIAC Variable Universal Life Separate Account-I is a segregated asset account that NYLIAC established to receive and invest your Net Premiums. Although the assets of the Separate Account belong to NYLIAC, these assets are held separately from the other assets of NYLIAC, and under applicable insurance law cannot be charged for liabilities incurred in any other business operations of NYLIAC (except to the extent that assets in the Separate Account exceed the reserves and other liabilities of the Separate Account). These assets are not subject to the claims of our general creditors. The income, capital gains, and capital losses incurred on the assets of the Separate Account are credited to or are charged against the assets of the Separate Account without regard to income, capital gains, and capital losses arising out of any other business NYLIAC may conduct. Therefore, the investment performance of the Separate Account is entirely independent of the investment performance of NYLIAC's Fixed Account, DCA Accounts, or any other separate account of NYLIAC.

The Separate Account currently includes the Investment Divisions available under the policy. On the Initial Premium Transfer Date, Net Premium payments allocated to the Investment Divisions are invested exclusively in the corresponding Eligible Portfolios of the Funds.

***Our Rights***

We may take certain actions relating to our operations and the operations of the Separate Account. We will take these actions in accordance with applicable laws, including obtaining any required approval of the SEC and any other required regulatory approvals. If necessary, we will seek approval of our policyowners.

Specifically, we reserve the right to:

&nbsp;&nbsp;&nbsp;&nbsp;● add, close, substitute, or remove any Investment Division (and the shares of an associated Eligible Portfolio);

&nbsp;&nbsp;&nbsp;&nbsp;● create new separate accounts;

&nbsp;&nbsp;&nbsp;&nbsp;● combine the Separate Account with one or more other separate accounts;

&nbsp;&nbsp;&nbsp;&nbsp;● operate the Separate Account as a management investment company under the 1940 Act or in any other form permitted by law;

&nbsp;&nbsp;&nbsp;&nbsp;● deregister the Separate Account under the 1940 Act;

&nbsp;&nbsp;&nbsp;&nbsp;● manage the Separate Account under the direction of a committee or discharge such committee at any time;

&nbsp;&nbsp;&nbsp;&nbsp;● restrict transfers among and between investment divisions of the Separate Account and to and from the Fixed Account;

&nbsp;&nbsp;&nbsp;&nbsp;● transfer the assets of the Separate Account to one or more other separate accounts;

&nbsp;&nbsp;&nbsp;&nbsp;● change the amount of any minimum or maximum investments or additional investments to comply with any requirements imposed by the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;● restrict or eliminate any of the voting rights of policyowners or other persons who have voting rights as to the Separate Account, in accordance with applicable law; and

&nbsp;&nbsp;&nbsp;&nbsp;● change the name of the Separate Account.

We may remove an Investment Division if the shares of an Eligible Portfolio are no longer available for investment or if we, in our sole discretion, decide that investment in an Eligible Portfolio is inappropriate given the purposes of the Separate Account. A new Eligible Portfolio may have higher fees and charges than the one it replaces. We will not substitute shares attributable to your interest in an Investment Division until you have been notified of the change, as required by the 1940 Act and we have obtained any necessary regulatory approvals. We may also add new Investment Divisions and/or close one or more Investment Divisions when marketing, tax, investment, or other conditions make it appropriate. We may decide whether or not the new Investment Divisions should be made available

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to existing policyowners. If we make a substitution or change to the Investment Divisions, we may change your policy to reflect such substitution or change. We will not transfer any amounts invested in an Investment Division without the policyowner's instructions, except as permitted by law.

***The Fixed Account and the DCA Accounts***

The Fixed Account and DCA Accounts are supported by the assets in our General Account, which includes all of our assets except those assets specifically allocated to our various separate accounts. Your Cash Values in the Fixed Account and the DCA Accounts, our obligation to credit at least the Guaranteed Minimum Interest Rate, and our obligation to pay any portion of the Life Insurance Benefits that exceed the Separate Account Value, are funded by the General Account and are subject to our claims-paying ability and financial strength.These assets are subject to the claims of our general creditors. We can invest the assets of the Fixed Account and DCA Accounts however we choose, within limits. Your interest in the Fixed Account and DCA Accounts is not registered under the 1933 Act, and the Fixed Account and DCA Accounts are not registered as investment companies under the 1940 Act. Therefore, generally you do not have the benefits and protections of these statutes for amounts allocated to the Fixed Account or the DCA Accounts. Disclosures regarding the Fixed Account; however, are subject to certain generally applicable provisions of the federal securities laws relating to the accuracy and completeness of statements made in a prospectus.

***How To Reach Us For Policy Services***

You can reach us by mail, by telephone or online.

*Written Service Requests*

For most services you are required to send a Request to us. We do not currently accept faxed or e-mailed service requests; however we reserve the right to accept them at our discretion.

All NYLIAC requirements must be met in order for us to deem your request in Good Order and process it. Please review all service Request forms carefully and provide all required information as applicable to the transaction. If your request is not in Good Order, we will not be able to process your service request. We will make every reasonable attempt to notify you of this situation. It is important that you inform NYLIAC of an address change so that you can receive important statements.

*Telephone Service Requests*

For telephonic requests, or if you wish to speak to a Customer Service Representative, you can reach us by phone on our toll-free number (1-800-598-2019).

Certain service requests may be made by telephone. We will use reasonable procedures to make sure that the instructions we receive by telephone are genuine. For jointly owned policies, requests must be exercised jointly. We are not responsible for any loss, cost, or expense or any actions we take based on instructions we receive by telephone that we believe are genuine. We will confirm all transactions in writing.

Financial requests received after 4:00 p.m. (Eastern Time) or on non-Business days will be processed as of the next Business Day.

Currently, subject to certain limitations, you can do the following by calling one of our customer service representatives:

&nbsp;&nbsp;&nbsp;&nbsp;● obtain current policy values;

&nbsp;&nbsp;&nbsp;&nbsp;● transfer assets between Investment Divisions;

&nbsp;&nbsp;&nbsp;&nbsp;● request or modify partial withdrawals;

&nbsp;&nbsp;&nbsp;&nbsp;● request a loan or make a one-time loan payment;

&nbsp;&nbsp;&nbsp;&nbsp;● request a stop and reissue check on an outgoing payment;

&nbsp;&nbsp;&nbsp;&nbsp;● set up one-time EFT for incoming payments;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;● change the allocation of future premium payments;

&nbsp;&nbsp;&nbsp;&nbsp;● establish a new or modify an existing automatic transfer arrangement;

&nbsp;&nbsp;&nbsp;&nbsp;● change your address, phone number or email address;

&nbsp;&nbsp;&nbsp;&nbsp;● review and update beneficiary information;

&nbsp;&nbsp;&nbsp;&nbsp;● revoke an authorized Third-Party caller from a policy; and

&nbsp;&nbsp;&nbsp;&nbsp;● request a fax of policy-related documents.

If you experience any problems reaching us by telephone, you can access the online service or send service requests to us at one of the addresses listed on the front page of this prospectus.

*Online Service at www.newyorklife.com and through the New York Life Insurance Company Mobile Application*

Through <u>www.newyorklife.com</u> or the New York Life Insurance Company Mobile Application ("mobile application") you can get up-to-date information about your policy and request fund transfers and allocation changes. Policies that are jointly owned may not request transactions through <u>www.newyorklife.com</u> or the mobile application. We may revoke online service for certain policyowners (See "Description of the Policy-Limits on Transfers").

In order to obtain policy information online at <u>www.newyorklife.com</u> or on the mobile application, you are required to register for access. You will be required to register a unique User Name and Password to gain access. Through <u>www.newyorklife.com</u> or the mobile application, you can, among other things, access policy values, change your address, download service forms, upload documents and forms, view policy statements, and submit policy transactions.

We will use reasonable procedures to make sure that the instructions we receive through www.newyorklife.com or through the mobile application are genuine. We are not responsible for any loss, cost, or expense for any actions we take based on instructions received online at <u>www.newyorklife.com</u> or through the mobile application that we believe are genuine. We will confirm all transactions in writing.

Policies that are jointly owned may not request transactions through <u>www.newyorklife.com</u> or the mobile application. Transfers and allocation changes received after 4:00 p.m. (Eastern Time) or on a non-Business Day, will be processed and priced as of the next Business Day.

We make online service at <u>www.newyorklife.com</u> or through the mobile application available at our discretion. We may revoke online service for certain policyowners. In addition, availability of online service may be interrupted temporarily at times. We do not assume responsibility for any loss if service should become unavailable. If you are experiencing problems, you can send a service Request.

Currently, online service at <u>www.newyorklife.com</u> and the mobile application is available Monday through Friday, from 6:00 a.m. to 4:00 a.m., Saturdays from 6:00 a.m. to 2:00 a.m., and Sundays from 7:00 a.m. to 1:00 a.m. (Eastern Time).

By logging in at <u>www.newyorklife.com</u> or through the mobile application, you can conduct a number of transactions. These include managing your investments and account details, uploading documents and forms, and downloading statements and other correspondence. You can see all of the transactions that are available to you by logging in at <u>www.newyorklife.com</u> or through the mobile application.

The online service <u>www.newyorklife.com</u> and the mobile application enables you to sign-up to receive future prospectuses and policyowner annual and semi-annual reports electronically for your Policy online at <u>www.newyorklife.com</u> or through the mobile application after login. Electronic delivery is not available for policies that are owned by corporations, trusts or organizations at this time.

*Third-Party Access to Your Account*

You can authorize a third party, including a joint policyowner, to access your policy information and independently make transfers among Investment Divisions and/or the Fixed Investment Options, allocation changes, and other permitted transactions on your behalf through a Customer Service Representative. To do so, you must send the

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VPSC a Telephone Authorization Form in Good Order to one of the addresses listed on the first page of this prospectus (or any other address we indicate to you in writing). The Customer Service Representative will require certain identifying information (e.g., Social Security Number, address of record, date of birth) before taking any requests or providing any information to ensure that the individual giving instructions is authorized.

*Registered Representative Actions*

You may authorize us to accept electronic or telephone instructions from your registered representative or the registered service assistant assigned to your policy to make premium allocations, transfers among Investment Options, Automatic Asset Rebalancing (AAR) updates (if applicable), and changes to your investment objective and/or risk tolerance. You may also authorize us to accept telephone instructions from your registered representative to make Interest Sweep, Dollar-Cost Averaging (DCA), DCA Plus, and DCA Extension updates. Only your registered representative or their registered assistant can make these requests by telephone. Your AAR will be cancelled if a premium allocation change or fund transfer is submitted on your behalf and the AAR is not also modified at the time to be consistent with your fund transfer and premium allocation changes.

To authorize a registered representative or registered service assistant assigned to your policy to make premium allocations and transfers, you must send a completed Trading and Partial Withdrawal Authorization Form in Good Order to the VPSC at one of the addresses noted on the first page of this prospectus (or any other address we indicate to you in writing). We may revoke or deny Trading Authorization privileges for certain policyowners (See "Description of the Policy—Limits on Transfers"). Trading Authorization may be elected, changed or cancelled at any time. We will confirm all transactions in writing. Not all transactions are available on the Internet.

NYLIAC is not liable for any loss, cost or expense for acting on instructions which are believed to be genuine in accordance with our procedures. As these parties act on your behalf, you are responsible for and bear the consequences of their instructions and actions, including limits on transfers.

We may choose to accept forms you have completed that your registered representative or your local General Office transmits to us electronically via our internal secured network. For information on how to initiate a transfer between Investment Divisions, or request a partial surrender, please refer to the sections titled "Transfers Among Investment Divisions, the Fixed Account and the DCA Accounts" or "Partial Surrenders" in this prospectus. We do not currently accept faxed or e-mailed requests for transactions affecting your investments under the policy, but reserve the right to accept them at our discretion.

***Information Systems Failures And Cybersecurity Risks***

NYLIAC's ability to administer the policy (and to keep policyowner information confidential) is subject to certain cybersecurity and cyber-attack risks that are common to all insurers and financial service providers. We rely on technology, including digital communications and data storage networks and systems to conduct our variable product business activities. Because our business, including our variable product business, is highly dependent upon the effective operation of our computer systems (including the online service at <u>www.newyorklife.com</u>, or through the mobile application, and other systems) and those of our service providers and business partners, our business is vulnerable to disruptions from utility outages and susceptible to operational and information security risks resulting from information system failures and cyber-attacks, including ransomware. These risks also apply to other insurance and financial services companies and businesses. These risks include, among other things, the theft, misuse, corruption and destruction of data maintained online or digitally, interference with or denial of service attacks on websites and other operational disruption, and unauthorized use, abuse and/or release of confidential customer (including policyowner and insured) information. We have established administrative and technical controls and cybersecurity plans, including a business continuity plan, to identify and protect our operations against system failures and cybersecurity breaches, including ransomware. Despite these controls and plans, systems failures and cyber-attacks affecting NYLIC, NYLIAC or any of their affiliates and other affiliated or unaffiliated third-party administrators, underlying funds, intermediaries and other service providers and business partners may have a material, negative impact on us and your policy Cash Value. For instance, systems failures and cyber-attacks may (i) interfere with our processing of policy transactions (including full and partial surrenders, periodic partial withdrawals, loans, and transfers) and the processing of orders from online service requests at www.newyorklife.com or through the mobile application or with the underlying funds or cause other operational issues; (ii) impact our ability to calculate accumulation unit values and policy Cash Values; (iii) cause the release, loss and/or possible destruction of confidential customer or business information; and/or (iv) subject us and/or our service

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providers, business partners and intermediaries to regulatory fines, litigation, financial losses and/or cause us reputational damage. Systems failures and cybersecurity breaches may also impact the issuers of securities in which the underlying funds invest, which may cause the funds underlying your policy to lose value. There can be no assurance that we, or the underlying funds or our service providers and business partners will be able to avoid these risks at all times or avoid losses affecting your policy due to information systems failures or cyber-attacks.

***Risks From Serious Infectious Disease Outbreaks***

Our ability to administer your policy is subject to certain risks - common to all insurers and financial service providers - that could result from current or future outbreaks of infectious diseases, viruses (including COVID-19), epidemics or pandemics ("serious infectious disease outbreaks"). Serious infectious diseases may spread rapidly. Serious infectious disease outbreaks - and general concerns about the course and effects of such outbreaks - not only raise serious health concerns, but may significantly disrupt economic activity in the U.S. and globally. The effects of a serious infectious disease outbreak may be short-term or last for extended time periods.

Our business activity and operations, and/or the activities and operations of our service providers and business partners, could be adversely affected or interrupted by serious infectious disease outbreaks. In order to mitigate the possible effects of these types of events, NYLIAC has established business continuity and disaster recovery plans. These plans may, for example, require our employees to work and access our information technology, communications or other systems remotely. Notwithstanding these plans, a serious infectious disease outbreak and public health measures taken by government officials to combat an outbreak — may have a material, adverse effect on us, our ability to administer your policy and your policy Cash Value. For example, a serious infectious disease outbreak or public health measures implemented to combat it may adversely affect our business and operations by (i) interfering with our processing of policy transactions (including full and partial surrenders, periodic partial withdrawals, loans, and transfers) and the processing of orders from online service requests at <u>www.newyorklife.com</u> or through the mobile application or with the underlying funds or cause other operational issues; (ii) delaying or interrupting our receipt of pricing or other services provided by third parties, thereby affecting among other things our ability to calculate accumulation unit values and policy cash values or to administer policy transactions dependent on systems and services provided by third parties; (iii) preventing our workforce from being able to be physically present at one or more of our worksites or from traveling to alternative worksites needed to implement our business continuity and disaster recovery plans, thereby resulting in lengthy interruptions of service; or (iv) subjecting us and/or our service providers, business partners and intermediaries to regulatory fines, litigation, financial losses and/or cause us reputational damage. In addition, our operations require experienced professional staff. Loss of a substantial number of such persons or an inability to provide properly equipped places for them to work may disrupt our operations and adversely affect our business. Serious infectious disease outbreaks may also affect the issuers of securities in which the underlying funds invest, which may cause the funds underlying your policy Cash Value to decrease in value. Serious infectious disease outbreaks may also affect market interest rates, which may affect the interest crediting rates we may declare on the Fixed Account under your policy (subject to the guaranteed minimum interest crediting rate). There can be no assurance that we, the underlying funds, the companies in which they invest, or our service providers and business partners will be able to avoid these risks at all times or avoid losses affecting your policy due to serious infectious disease outbreaks.

***Funds And Eligible Portfolios***

The assets of each Eligible Portfolio are separate from the others and each such Portfolio has different investment objectives and policies. As a result, each Eligible Portfolio operates as a separate investment fund and the investment performance of one Portfolio has no effect on the investment performance of any other Portfolio. You can make or lose money in any of the Investment Divisions. Portfolios described in this prospectus are different from portfolios that may have similar names but are available directly to the general public. The funds available directly to the general public may have the same adviser, same name, same investment objectives and policies, and substantially similar portfolio securities, but the investment performance may not be the same. The Fund's prospectus should be read carefully before any decision is made concerning the allocation of Net Premium payments to an Investment Division corresponding to a particular Eligible Portfolio.

**<u>We offer no assurance that any of the Eligible Portfolios will attain their respective stated investment</u> <u>objectives.</u>**

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Specific information regarding the Portfolios of each Fund, including (1) its name, (2) its fund type (e.g., bond fund, large cap value, small cap growth, specialty, money market fund, etc.); (3) its investment adviser and any sub-advisor; (4) current expenses; and (5) investment performance, is available in "Appendix—Eligible Portfolios Available Under the Policy". For more information about each of these Portfolios, please read the Fund prospectuses. You should also read a Fund's prospectus carefully before making any decision about allocating premium payments or a portion of your policy's Cash Value to an Investment Division corresponding to a particular Portfolio. Please contact us at 1-800-598-2019, or contact your registered representative, if you would like to obtain any of the underlying Fund prospectuses (in either paper or electronic format).

The Funds' shares may be available to certain other separate accounts we use to fund our variable annuity contracts offered by NYLIAC. This is called "mixed funding." The Funds' shares may also be available to separate accounts of insurance companies that are not affiliated with NYLIAC and, in certain instances, to Qualified Policies. This is called "shared funding." Although we do not anticipate that any difficulties will result from mixed and shared funding, it is possible that differences in tax treatment and other considerations may cause the interests of owners of various contracts participating in the Funds to be in conflict. The Board of Directors/Trustees of each Fund, the Funds' investment advisers, and NYLIAC are required to monitor events to identify any material conflicts that arise from the use of the Funds for mixed and shared funding. In the event of a material conflict, we could be required to withdraw from an Eligible Portfolio. For more information about the risks of mixed and shared funding, please refer to the relevant Fund prospectus.

The Funds and Eligible Portfolios offered through this product are selected by NYLIAC based on several criteria, including asset class coverage, the strength of the manager's reputation and tenure, brand recognition, performance, and the capability and qualification of each sponsoring investment firm. An affiliate of NYLIAC—New York Life Investment Management LLC—manages the New York Life Investments VP Funds Trust and that was a factor in its selection.

We also receive payments or compensation from the Funds or their investment advisors, or from other service providers of the Funds (who may be affiliates of NYLIAC) in connection with administration, distribution and other services that we provide with respect to the Eligible Portfolios and their availability through the policies. These payments may be derived, in whole or in part, from the advisory fee charged by the Fund and deducted from Fund assets and/or from "Rule 12b-1" fees deducted from Fund assets. These payments are also a factor in our selection of Funds and Eligible Portfolios. NYLIAC may use these payments for any corporate purpose, including payment of expenses that NYLIAC and/or its affiliates incur in promoting, marketing and administering the Policies, and in its role as an intermediary of the Funds. Policyowners, through their indirect investment in the Funds, bear the costs of these fees.

The amounts we receive may be substantial, may vary by Eligible Portfolio, and may depend on how much policy value is invested in the particular Eligible Portfolio or Fund. NYLIAC and its affiliates may profit from these payments. Currently, we receive payments or revenue under various arrangements in amounts up to 0.40% annually of the aggregate net asset value of the shares of some of the Eligible Portfolios held by the Investment Divisions. We also receive compensation under various distribution services arrangements in amounts up to 0.25% annually of the aggregate net asset value of the shares of some of the Eligible Portfolios held by the Investment Divisions. The compensation that your registered representative receives remains the same regardless of which Investment Divisions you choose or the particular arrangements applicable to those Investment Divisions.

NYLIAC's parent company, New York Life Insurance Company, may also receive fixed dollar payments for marketing and education support services and for the participation of investment advisers and sub-advisers in training and educational meetings, which includes the opportunity to discuss and promote their Funds.

NYLIAC does not provide investment advice and does not recommend or endorse any particular Eligible Portfolio or Portfolios. NYLIAC is not responsible for choosing the Investment Divisions or the amounts allocated therein. You are responsible for determining that these decisions are appropriate for your own individual circumstances and your investment goals, financial situation, and risk tolerance. Decisions regarding investment allocations should be carefully considered. You bear the risk of any decline in the value of your policy resulting from the performance of the Portfolios you have chosen. You should consult with your registered representative to determine which combination of Investment Options is most appropriate for you, and periodically review your choices.

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Certain portfolios, generally referred to as "funds of funds" or "master-feeder arrangements," may invest all or substantially all of their assets in portfolios of other funds. In such cases, you will indirectly pay fees and expenses at both portfolios levels, which would reduce your investment return.

Hedging strategies may be employed by certain portfolios to attempt to provide downside protection during sharp downward movements in equity markets. The costs of these strategies could limit the upside participation of the portfolio in rising equity markets relative to other portfolios.

So-called "alternative" investment strategies may also be used by certain portfolios, which may involve non-traditional asset classes. These alternative investment strategies may be riskier than more traditional investment strategies and may involve leverage or use complex hedging techniques, such as options and derivatives. These may offer potential diversification benefits beyond traditional investment strategies.

Although we do not currently offer any Portfolios that offer such strategies, in the future, some of the Eligible Portfolios may use what are known as "volatility management strategies." Volatility management strategies are designed to reduce the overall volatility and provide risk-adjusted returns over time. During rising markets, a volatility management strategy, however, could cause your policy Cash Value to rise less than would have been the case had you been invested in a fund with substantially similar investment objectives, policies and strategies that does not utilize a volatility management strategy. Conversely, investing in a fund that features a volatility management strategy may be helpful in a declining market when high market volatility triggers a reduction in the fund's equity exposure, because during these periods of high volatility, the risk of losses from investing in equity securities may increase. In these instances, your policy's Cash Value may decline less than would have been the case had you not been invested in a fund that features a volatility management strategy. The success of the volatility management strategy of a fund depends, in part, on the investment adviser's ability to effectively and efficiently implement its risk forecasts and to manage the strategy for the fund's benefit. In addition, the cost of implementing a volatility management strategy may negatively impact performance. There is no guarantee that a volatility management strategy can achieve or maintain the fund's optimal risk targets, and the fund may not perform as expected. For more information about the Eligible Portfolios and the investment strategies they employ, please refer to the Funds' current prospectuses.

Investment selections should be based on a thorough investigation of all the information regarding the Eligible Portfolios that is available to you, including each Fund's prospectus, statement of additional information, and annual and semi-annual reports. After you select Investment Divisions for your Initial Premium, you should monitor and periodically re-evaluate your allocations to determine if they are still appropriate.

The Investment Divisions invest in the corresponding Eligible Portfolios. You can choose a maximum of 21 Investment Options for Net Premium payments from the available Investment Divisions, the Fixed Account, and the DCA Accounts. You can transfer all or part of the Cash Value of your policy among the Investment Options tax-free and within the limits described in this prospectus.

The Investment Divisions offered through this policy and described in this prospectus and the SAI are different and may have different investment performance from mutual funds that may have similar names, the same adviser, the same investment objective and policies, and substantially similar portfolio securities.

***Money Market Fund Fees***

The SEC has adopted rules that provide that all money market funds can impose liquidity fees under certain circumstances. All government money market funds are permitted to impose discretionary liquidity fees, up to 2% of the amount redeemed, under circumstances where mandatory liquidity fees do not apply and the fund board determines that the fee is in the best interest of the fund. These discretionary fees can be imposed based on the liquidity of the fund's assets, redemptions, and other factors. Liquidity fees could be applied to all policy transfers, surrenders, partial withdrawals and benefit payments from that portfolio.

All types of money market funds have the ability to impose these fees and gates, but government money market funds (that invest at least 99.5% of their assets in government securities, cash, and repurchase agreements secured by government securities) are less likely to impose fees. Nevertheless, there remains a possibility that a government money market fund such as the NYLIM VP U.S. Government Money Market Portfolio could impose such fees, which could be applied to all Policy transfers, full and partial surrenders, and benefit payments from the portfolio.

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***Reinvestment***

We automatically reinvest all dividends and capital gains distributions from Eligible Portfolios in additional shares of the distributing Portfolio at their net asset value on the date the dividends or distributions are paid.

***The Franklin Templeton Model Portfolios***

The Franklin Templeton Model Portfolio Funds (the "Model Portfolios") were created on our behalf by an unaffiliated third-party investment manager, Franklin Templeton Fund Adviser, LLC ("FTFA"), an indirect wholly-owned subsidiary of Franklin Resources, Inc., for the exclusive use of NYLIAC's variable annuity and variable life insurance policyholders. Each Model Portfolio, itself an Eligible Portfolio, will actively invest in multiple other funds of various asset classes and strategies (the "Underlying Funds"), to seek to achieve a different investment objective depending on the risk tolerance for the particular Model Portfolio.

The Underlying Funds available to the Model Portfolios for investment are comprised entirely of the initial class or similar shares of the Eligible Portfolios available under your policy, except for (i) Eligible Portfolios that are themselves, funds of funds, and (ii) Eligible Portfolios that did not agree to sell their shares to the Model Portfolios.

*Conflicts of Interest Relating to the Model Portfolios*

FTFA's affiliated subadviser QS Investors, LLC ("QS Investors") selected the initial composition of each Model Portfolio. Thereafter, QS Investors will manage the Model Portfolios, evaluating assets on a frequent basis and making changes to the investments of the Model Portfolios as deemed necessary. To the extent that NYLIAC adds, deletes, closes or substitutes the Eligible Portfolios available under your policy, the composition of the Underlying Funds available to the Model Portfolios for investment will likewise change. FTFA and QS Investors, have sole discretion relating to investment by the Model Portfolios in the Underlying Funds. Neither NYLIAC, nor its parent company, affiliates or subsidiaries have input into the investment decisions of FTFA and/or QS Investors. For additional information regarding the risks of investing in a Model Portfolio, see that Model Portfolio's prospectus.

For providing certain administrative support to FTFA and QS Investors, Legg Mason Investor Services, LLC, the distributor of the Model Portfolios, compensates NYLIAC based on the aggregate net asset value of the shares of the Model Portfolios held by the Separate Account and other NYLIAC separate accounts (the "NYLIAC Separate Accounts"). NYLIAC also receives Rule 12b-1 fees, which are deducted from the assets of certain share classes of the Model Portfolios. For administrative services that NYLIAC performs with respect to NYLIAC Separate Account assets invested in the Model Portfolios and allocated to the Underlying Funds, NYLIAC receives compensation from the Underlying Funds or their investment advisers, or from other service providers of the Underlying Funds based on the aggregate net asset value of the Underlying Fund shares held by the Model Portfolios and attributable to investment by the NYLIAC Separate Accounts. The fees paid by the Underlying Funds for such services are paid at the same annual rate and fee schedule as the fees paid by the Underlying Funds for administrative services with respect to net assets of the Eligible Portfolios held directly by the NYLIAC Separate Accounts.

These payments are a factor in our selection of the Eligible Portfolios, which in turn, are available to the Model Portfolios for investment. However, only FTFA and QS Investors will determine the portion of the Model Portfolios' assets, if any, that are invested in particular Underlying Funds. Policyowners, through their direct investment in the Model Portfolios and their indirect investment in the Underlying Funds, bear the costs of these fees. FTFA and QS Investors receive no payments from the Underlying Funds in connection with an investment by the Model Portfolios (except to the extent described below), nor do they know the terms of the payment arrangements (if any) between the Underlying Funds and NYLIAC.

FTFA and QS Investors are also subject to competing interests that may influence their investment decisions with respect to the Model Portfolios. For example, FTFA is the investment adviser for the Model Portfolios and for certain of the available Underlying Funds, and receives a management fee from those funds. FTFA and QS Investors, therefore, have an incentive to allocate a greater portion of a Model Portfolio's assets to those funds rather than to unaffiliated funds.

As noted above, we receive payments or compensation from the Underlying Funds or their Investment Advisers, or from other service providers of the Underlying Funds (who may be affiliates of NYLIAC) in connection with administration, distribution and other services that we provide with respect to such Underlying Fund and their availability through the Model Portfolios. The amount of this revenue and how it is computed varies by each

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Underlying Fund, may be significant, and may create conflicts of interest in the selection of the Eligible Portfolios that are available to the Model Portfolios for investment.

***Investment Return***

The investment return of your policy is based on the accumulation units you have in each Investment Division of the Separate Account, the amount you have in the Fixed Account and DCA Accounts, the investment experience of each Investment Division as measured by its actual net rate of return, and the interest rate we credit on the amount you have in the Fixed Account, DCA Accounts and/or Loan Account.

The investment experience of an Investment Division of the Separate Account reflects increases or decreases in the net asset value of the shares of the corresponding Eligible Portfolio, any dividend or capital gains distributions, and any charges against the assets of the Investment Division. We determine this investment experience from the end of one Valuation Day to the end of the next Valuation Day.

We will credit any amounts in the Fixed Account, DCA Accounts, and Loan Account with a fixed interest rate that we declare periodically, in advance, and at our sole discretion. This rate will never be less than an annual rate of 2%. We may credit different interest rates to amounts in the Fixed Account, DCA Accounts, and the Loan Account. All Net Premiums applied to the Fixed Account and DCA Accounts, and amounts transferred to the Fixed Account and Loan Account, receive the applicable rate in effect on the Business Day we receive the premium payment or process the transfer.

Interest rates for subsequent premium payments into the Fixed Account and DCA Accounts may be different from the rate applied to prior premium payments made into the Fixed Account or DCA Accounts. Interest rates will fluctuate for the entirety of holdings in the Fixed Account, while each premium paid into the DCA Accounts will receive one rate of interest for the entire DCA period.

***Voting***

We will vote the shares that the Investment Divisions of the Separate Account holds in the Eligible Portfolios at any regular and special shareholder meetings of the Funds. We will vote these shares according to the instructions we receive from our policyowners who have invested their premiums in Investment Divisions that invest in the Fund holding the meeting. However, if the law changes to allow us to vote the shares in our own right, we may decide to do so.

We may, if required by state insurance regulations, disregard voting instructions if they would require shares to be voted so as to cause a change in the sub-classification or investment objectives of one or more of the available Investment Divisions or to approve or disapprove an investment advisory contract for a Fund. In addition, we may disregard voting instructions that would require changes in the investment policy or investment adviser of one or more of the Funds associated with the available Investment Divisions, provided that we reasonably disapprove such changes in accordance with applicable federal or state regulations. If we disregard policyowner voting instructions, we will advise policyowners of our action and the reasons for such action in the next available annual or semi-annual report.

While your policy is in effect, you can provide voting instructions to us for each Investment Division in which you have assets. The number of votes you are entitled to will be determined by dividing the units you have invested in an Investment Division by the net asset value per unit for the Eligible Portfolio underlying that Investment Division.

We will determine the number of votes you are entitled to on the date established by the underlying Fund for determining shareholders that are eligible to vote at the meeting of the relevant Fund. We will send you voting instructions prior to the meeting according to the procedures established by the Fund. We will send proxy materials, reports, and other materials relating to the Fund to each person having a voting interest.

We will vote the Fund shares for which we do not receive timely instructions in the same proportion as the shares for which we receive timely voting instructions. To the extent required by any applicable SEC order, any shares beneficially owned by NYLIAC or its affiliates will also be proportionately voted in accordance with those instructions. As a result, because of proportional voting, a small number of policyowners may control the outcome of the vote.

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**Charges Associated With The Policy**

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As with all life insurance policies, certain charges apply under the policy. The following is a summary explanation of these charges. (See "Additional Information About Charges" in the SAI for more information.)

***Deductions From Premium Payments***

When we receive a premium payment from you, whether planned or unplanned, we will deduct a Premium Expense Charge, which includes a sales expense charge, a state premium tax charge and a federal tax charge.

***Premium Expense Charge***

A Premium Expense Charge is deducted from each Planned and Unplanned Premium payment when that payment is received. The amount of the charge is determined by applying a percentage to the premium amount paid.

We currently deduct a Premium Expense Charge of 4%. The state tax component of the Premium Expense Charge is currently 2% of each premium payment you make, or $200.00 per $10,000 of premium. The federal tax component is currently 1.25% of each premium payment you make, or $125.00 per $10,000 of premium. The sales expense component is currently 0.75% of each premium payment you make, or $75.00 per $10,000 of premium. We may increase the Premium Expense Charge to reflect changes in applicable tax law; however, the total Premium Expense Charge will never exceed 8%.

***Deductions From Cash Value***

Each month, we will deduct Monthly Deduction Charges which include, a Contract Charge, a Cost of Insurance Charge, a Mortality and Expense Risk Charge, an Administrative Charge, and any rider charges for optional riders you selected from your policy's Cash Value. (We currently do not deduct a Mortality and Expense Risk Charge, although we may do so in the future.) If you have elected the Expense Allocation option, the Monthly Deduction Charges will be deducted according to those instructions. Otherwise, we will deduct these charges proportionately from each of the Investment Divisions and the Fixed Investment Options.

We will deduct these charges on the Monthly Deduction Day. The first Monthly Deduction Day will be the monthly anniversary of your Policy Date on or following the date we receive the Initial Premium payment and underwriting approval in Good Order. If the Policy Date is prior to the Issue Date, the deductions made on the first Monthly Deduction Day will cover the period from the Policy Date until the first Monthly Deduction Day.

*Contract Charge*

On each Monthly Deduction Day, we will deduct a Contract Charge to cover our costs for providing certain administrative services, including collecting premium, recordkeeping, processing claims, and communicating with policyowners.

We currently deduct a Contract Charge of $10 per month. We guarantee that this charge will never exceed $15 per month in all Policy Years.

*Cost Of Insurance Charge*

On each Monthly Deduction Day, we will deduct the Cost of Insurance Charge from the Cash Value of your policy for the cost of providing a Life Insurance Benefit to you. This charge is equal to (1) multiplied by the result of (2) minus (3), where:

&nbsp;&nbsp;&nbsp;&nbsp;(1) Is the monthly cost of insurance rate per $1,000 of Net Amount at Risk;

&nbsp;&nbsp;&nbsp;&nbsp;(2) Is the number of thousands of Life Insurance Benefit divided by 1.0032737; and

&nbsp;&nbsp;&nbsp;&nbsp;(3) Is the number of thousands of the greater of the Cash Value or of the ACSV (if applicable) as of the Monthly Deduction Day (before Monthly Deduction Charges are subtracted).

The Net Amount at Risk is (2) minus (3).

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The Cash Value varies based upon the performance of the Investment Divisions selected, interest credited to the Fixed Account, DCA Accounts and Loan Account, outstanding loans (including loan interest), charges, premium payments, and any non-guaranteed Persistency Credit that we may pay. We determine the initial rate of the monthly cost of insurance based upon our underwriting of your policy. This determination is based on various factors including, but not limited to, Issue Age, gender and class of risk. We may change these rates from time to time, based on changes in future expectations of various factors, including, but not limited to, mortality, investment income, expenses, and persistency. The cost of insurance rates, however, will never exceed the guaranteed maximum cost of insurance rates for your policy.

Your Cost of Insurance Charge may vary from month to month depending on changes in the cost of insurance rates and the Net Amount at Risk. We expect to profit from this charge. Profits derived from this charge can be used for any corporate purpose.

We base the guaranteed rates on the 2017 Commissioner's Standard Ordinary Mortality Table, Age Nearest Birthday, Ultimate, Unismoke version. As the policy is generally offered with expedited underwriting, healthy individuals may pay higher current cost of insurance rates than they would pay under a substantially similar policy offered by NYLIAC using a different underwriting method. If the Planned Premium for the Policy exceeds certain thresholds or we cannot perform expedited underwriting, the Policy will be offered with full medical underwriting. Cost of Insurance rates will not vary based on underwriting methods.

*Mortality And Expense Risk Charge*

We assume a mortality risk that the group of lives we have insured under our policies will not live as long as we have expected. In addition, we assume an expense risk that the cost of issuing and administering the policies we have sold will be greater than what we have estimated. On each Monthly Deduction Day, we deduct a Mortality and Expense Risk Charge from the Separate Account Value as of that day. This charge varies based on the Separate Account Cash Value.

&nbsp;&nbsp;&nbsp;&nbsp;● Current—We deduct a Mortality and Expense Risk charge based on Separate Account Cash Value. The current charge is 0.00% per year.

&nbsp;&nbsp;&nbsp;&nbsp;● Guaranteed Maximum—We guarantee that the Mortality and Expense Risk charge will never exceed an annual rate of 0.75%, or $7.50 per $1,000 of the Separate Account Value.

*Administrative Charge*

We currently deduct an Administrative Charge that varies based on class of risk, Issue Age, policy duration and initial Face Amount. We guarantee that the Administrative Charge will never exceed $0.75 per thousand of Face Amount per month.

*Expense Allocation Option*

With the Expense Allocation option, you choose how to allocate deductions from your Cash Value. These include the Contract Charge, the Cost of Insurance Charges, the Mortality and Expense Risk Charge, the Administrative Charge, and the monthly cost of any riders on the policy. You can instruct us at the time of the application, and any time thereafter, to have expenses deducted from the NYLIM VP U.S. Government Money Market Investment Division, the Fixed Account, or a combination of the two.

If the values in the NYLIM VP U.S. Government Money Market Investment Division and/or the Fixed Account are insufficient to pay these charges, we will deduct as much of the charges as possible. The remainder of the charges will be deducted proportionately from each of the Investment Divisions. If you do not instruct us as to how you would like the expenses allocated, these charges will be deducted proportionately from each of the Investment Divisions and the Fixed Investment Options.

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***Separate Account Charges***

*Charges For Federal Income Taxes*

We do not currently deduct a charge for federal income taxes from the Investment Divisions, although we may do so in the future to reflect possible changes in the law.

*Fund Charges*

Each Investment Division of the Separate Account purchases shares of the corresponding Eligible Portfolio at the accumulation unit value. The accumulation unit value reflects the investment advisory fees and other expenses that are deducted on each Valuation Day from the assets of the Portfolio by the relevant Fund. The advisory fees and other expenses are not fixed or specified under the terms of the policy and may vary from year to year. These fees and expenses are described in the Funds' prospectuses.

Certain Eligible Portfolios may also impose liquidity or redemption fees on withdrawals (including transfers) pursuant to SEC Rules, including Rules 2a-7 or 22c-2 under the 1940 Act. In such cases, we would administer the Fund fees and deduct them from your Cash Value or transaction proceeds.

***Transaction Charges***

*Surrender Charges*

The surrender charge is in addition to the Premium Expense Charge. Your policy may be subject to a surrender charge if you take any of the following actions during the Surrender Charge Period:

&nbsp;&nbsp;&nbsp;&nbsp;(a) You fully surrender your policy;

&nbsp;&nbsp;&nbsp;&nbsp;(b) You request a Face Amount decrease; or

&nbsp;&nbsp;&nbsp;&nbsp;(c) You request a partial surrender that results in a Face Amount decrease.

Surrender Charges are not applicable on a full surrender of the policy for its ASCV.

The surrender charges will vary according to the Policy Year. The maximum amount of the surrender charge will be the lesser of (a) or (b), where (a) equals 50% of the total premiums paid under the policy and (b) a percentage of the Surrender Charge Premium (which changes by duration as shown in the table below). Since the percentage used to calculate (b) is lower in later Policy Years, the maximum surrender charge is reduced over time.

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| | |
|:---|:---|
| **Surrender Charge Schedule** | **Surrender Charge Schedule** |
| **Policy Year** | **Issue Age 60 and** <br> **Less**<br>|
| 1 | 94% |
| 2 | 89% |
| 3 | 84% |
| 4 | 79% |
| 5 | 74% |
| 6 | 62% |
| 7 | 49% |
| 8 | 36% |
| 9 | 23% |
| 10 | 10% |
| 11+ | 0% |

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For example, a Male insured age 40, Premier class, with a planned annual premium of $17,382.92 and a Surrender Charge Premium of $5,895.00 for a Face Amount of $250,000 would pay a surrender charge of $5,541.30 if he surrenders his policy at the end of the first Policy Year. The surrender charge in this example is calculated as the lesser of (a) or (b) as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(a) = 50% of $17,382.92 = $8,691.46; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) = 94% of Surrender Charge Premium = $5,541.30.

Since (b) is less than (a), the surrender charge would be $5,541.30.

If the policy remains in force, no surrender charge is assessed.

*Surrender Charges On Transactions Resulting In A Face Amount Decrease*

If, during the Surrender Charge Period, you request (i) a Face Amount decrease, or (ii) a partial surrender that results in a Face Amount decrease, we will deduct a surrender charge if applicable. This charge will equal the difference between the surrender charge that we would have charged if you had surrendered your entire policy before the decrease and the surrender charge that we would charge had you surrendered your entire policy after the decrease. We will not impose a surrender charge on a decrease or termination of any rider.

***EXAMPLE – Insured Age 40*** 

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| | |
|:---|:---|
| Face Amount Prior to Decrease | $500000 |
| ***<u>Amount of Decrease</u>*** | $100000 |
| Face Amount after Decrease | $400000 |
| Surrender Charge on Face Amount prior to Decrease ($500000) | $11083 |
| Minus Surrender Charge on Face Amount after Decrease ($400000) | $8866 |
| Surrender Charge Deducted | $2216 |

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*Partial Surrender Fee*

When you make a partial surrender, we reserve the right to deduct a fee, not to exceed $25, for processing the partial surrender. Currently, we do not charge a fee when you make a partial surrender.

*Transfer Fee*

We currently do not charge for transfers made between Investment Divisions. However, we have a right to charge $30 per transfer for any transfer in excess of 12 in a Policy Year.

*Loan Charges*

We currently charge an effective annual loan interest rate of 3% in Policy Years 1-10 and 2% in Policy Years 11 and beyond. We may increase or decrease this rate but we guarantee that the rate will never exceed 6% in any Policy Year. When you Request a loan, a transfer of funds will be made from the Separate Account (or the Fixed Investment Options, if so requested) to the Loan Account so that the Cash Value in the Loan Account is at least 100% of the requested loan plus any outstanding loan principal.

When you take a loan against your policy, the loaned amount that we hold in the Loan Account may earn interest at a different rate from the rate we charge you for loan interest. We guarantee that the interest rate we credit on loaned amounts will always be at least the Guaranteed Minimum Interest Rate credited to the Fixed Account for your policy. For the first ten Policy Years, we guarantee that the rate we credit on loaned amounts will never be lower than the rate we charge for policy loans minus 2% (for example, if the rate we charge for policy loans is 6%, then the rate we credit on loaned amounts will never be lower than 4%). Currently, for the first ten Policy Years, the rate we expect to credit on loaned amounts is 1% less than the rate we charge for loan interest. Beginning in Policy Year 11, we guarantee that the rate we credit on loaned amounts will never be lower than the rate we charge for policy loans minus 0.25% (for example, if the rate we charge for policy loans is 6%, then the rate we credit on loaned amounts will never be

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lower than 5.75%). Currently, beginning in Policy Year 11, the rate we expect to credit on loaned amounts is equal to the rate we charge for loan interest. (See "Loans" for more information.)

***Rider Charges***

Each month, we deduct any applicable charges for any optional riders you may have chosen that have monthly charges.

A one-time fee of $150 will be applied if you exercise the Living Benefits Rider. A one-time fee based on a percentage of the Cash Value and Attained Age will be applied when you exercise the Overloan Protection Rider. A one-time conditional premium payment may be required if you exercise the Insurance Exchange Rider and is dependent on the following:

&nbsp;&nbsp;&nbsp;&nbsp;● If the Cash Surrender Value of the new policy exceeds the Cash Surrender Value of the original policy, then a conditional premium payment into the new policy equal to 103% the difference between these two values will be required.

&nbsp;&nbsp;&nbsp;&nbsp;● If the Cash Surrender Value of the new policy is zero or less than zero, then a conditional premium payment into the new policy in an amount sufficient to keep the new policy in effect for two months following the date of the exchange will be required.

The conditional premium payment for the Insurance Exchange Rider will be treated as a premium and will be subject to any charges and conditions applicable to premiums into the new policy. If the conditions specified above are not present at the time the Insurance Exchange Rider is exercised, the conditional premium payment will not be required. The fees for the Living Benefits and Overloan Protection Riders specified above will never be greater than the maximum charges specified in the Table of Fees and Expenses. See "Table of Fees and Expenses" for more information about specific charges for the riders.

***Commissions Paid To Dealers***

The selling broker-dealer, and in turn your registered representative, will receive compensation for selling you this Policy or any other investment product. Compensation may consist of commissions, asset-based compensation, allowances for expenses, and other compensation programs. The amount of compensation received by your registered representative will vary depending on the policy that he or she sells, on sales production goals, and on the specific payment arrangements of the relevant broker-dealer. Differing compensation arrangements have the potential to influence the recommendation made by your registered representative or broker-dealer.

The maximum commissions payable to a broker-dealer in the first 30 years are equivalent to the present value of an annual commission rate for 30 years of 8.0% per year. (This figure is based on planned annual premiums of $10,000 for 7 years and assumes a discount rate of 6%. Additional assumptions for the policy are: Male Issue Age 40, issued Premier, with an initial face amount of $250,000). Broker-dealers receive commission not to exceed 14% of the premiums paid up to the Commissionable Target Premium in Policy Year 1 and 5.5% in Policy Years 2-7 plus 5.9% of premiums paid in excess of such amount in Policy Year 1 and 3.0% in Policy Years 2-7. After Policy Year 7, broker-dealers receive a monthly percentage of the Cash Value equal to 0.0083% for Policy Years 8-15 and 0.0042% in Policy Years 16-20. The "Commissionable Target Premium" is used in the calculation of the maximum commission payable and is based on Issue Age, gender and the face amount of the policy.

The commissions, service fees and other compensation described above is not deducted directly from your policy's cash value. Rather NYLIAC and its affiliates pay these expenses from the Sales Expense Charges, other charges under the policies and other resources.

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**Description Of The Policy**

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***The Parties***

There are three important parties to the Policy: the **policyowner(s)**, the **insured**, and the **beneficiary(ies)**. One individual can have one or more of these roles. Each party plays an important role in a Policy.

**POLICYOWNER:** This person (persons) or entity can purchase and surrender a policy, and can make changes to it, such as:

&nbsp;&nbsp;&nbsp;&nbsp;● decrease the Face Amount

&nbsp;&nbsp;&nbsp;&nbsp;● elect/add/delete riders

&nbsp;&nbsp;&nbsp;&nbsp;● change a beneficiary

&nbsp;&nbsp;&nbsp;&nbsp;● choose/change underlying Investment Options

&nbsp;&nbsp;&nbsp;&nbsp;● take a loan against or take a partial surrender from the Cash Surrender Value of the policy.

The current policyowner has the right to transfer ownership to another party/entity. The person having the right to transfer the ownership of the policy must do so by using the Company's approved "Transfer of Ownership" form in effect at the time of the Request. When the Company records the change, it will take effect as of the date the form was signed, subject to any payment made or other action taken by the Company before recording. Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who becomes the owner of an existing policy. This means the new policyowner will be required to provide their name, address, date of birth, and other identifying information. A transfer of ownership request also requires that the new policyowner(s) submit financial and suitability information as well.

**INSURED:** The person whose life is insured under the policy. This individual's personal information determines the cost of the life insurance coverage. The policyowner also may be the insured.

**BENEFICIARY:** The beneficiary is the person(s) or entity(ies) the policyowner specifies on our records to receive the proceeds from the policy. The policyowner may name his or her estate as the beneficiary.

Who is named as Policyowner and Beneficiary may impact whether and to what extent the Life Insurance Benefit may be received on a tax-free basis. See the discussion under "Federal Income Tax Considerations—IRC Section 101(j)—Impact on Employer-Owned Policies" for more information.

***The Policy***

The policy provides life insurance protection on the named insured. We will pay the designated beneficiary the Life Insurance Proceeds if the policy is still in effect when the insured dies.

The policy offers:

&nbsp;&nbsp;&nbsp;&nbsp;1. flexible premium payments where you decide the timing and amount of the payment;

&nbsp;&nbsp;&nbsp;&nbsp;2. a Life Insurance Benefit;

&nbsp;&nbsp;&nbsp;&nbsp;3. access to the policy's Cash Surrender Value through loans and partial surrender privileges (within limits);

&nbsp;&nbsp;&nbsp;&nbsp;4. access to the policy's ACSV through full surrenders in the first 10 policy years (within limits);

&nbsp;&nbsp;&nbsp;&nbsp;5. the ability to decrease the policy's Face Amount of insurance (within limits);

&nbsp;&nbsp;&nbsp;&nbsp;6. a No Lapse Guarantee that the policy will not lapse during the Guarantee Period so long as the specified minimum premiums have been paid and it passes the No Lapse Guarantee Premium Test;

&nbsp;&nbsp;&nbsp;&nbsp;7. additional benefits through the use of optional riders; and

&nbsp;&nbsp;&nbsp;&nbsp;8. a selection of premium allocation options, consisting of the available Investment Divisions and Fixed Investment Options with guaranteed minimum interest rates.

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***How The Policy is Available***

The policy is available as a Non-Qualified Policy.

***Policy Premiums***

Once you have purchased your policy, you can make premium payments as often as you like and for any amount you choose, within limits. Other than the Initial Premium, which must be a minimum of $10,000.00 paid in the first Policy Year, there are no required premium payments. However, you may need to make additional premium payments to keep your policy from lapsing. The currently available methods of payments are: direct payment to NYLIAC, pre-authorized one-time or monthly deductions from your bank, credit union or similar accounts and any other method agreed to by us. (See "Premiums" for more information.)

***Cash Value***

The Cash Value of this policy at any time is equal to the Separate Account Value plus the value in the Fixed Investment Options and the Loan Account. This amount is allocated based on the instructions you give us. A number of factors affect your policy's Cash Value, including, but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;● the amount and frequency of the premium payments;

&nbsp;&nbsp;&nbsp;&nbsp;● the investment experience of the Investment Divisions you choose;

&nbsp;&nbsp;&nbsp;&nbsp;● the interest credited on the amount in the Fixed Account and DCA Accounts;

&nbsp;&nbsp;&nbsp;&nbsp;● any non-guaranteed Persistency Credits that we may pay;

&nbsp;&nbsp;&nbsp;&nbsp;● the amount of any partial surrenders you make (including any charges you incur as a result of such surrenders); and

&nbsp;&nbsp;&nbsp;&nbsp;● the amount of charges we deduct.

The Cash Value is not necessarily the amount you receive when you surrender your policy. (See "Surrenders" for details about surrendering your policy.)

***Investment Divisions, The Fixed Account and the DCA Accounts***

We allocate your Net Premium among your selected Investment Divisions available under the policy (See "Appendix: Eligible Portfolios Available Under the Policy" for our list of available Investment Divisions), the Fixed Account, and within limits, the DCA Accounts, based on your instructions. You can choose a maximum of 21 Investment Options for Net Premium payments from among the available Investment Divisions, the Fixed Account and/or DCA Accounts.

*Non-guaranteed Persistency Credit* 

On your Persistency Credit Start Date, we may apply a Persistency Credit to your policy's Available Cash Value on each Monthly Deduction Day. The Persistency Credit Start Date is dependent on the Issue Age as shown below.

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| | |
|:---|:---|
| **Issue Age** | **Persistency Credit Start Date** |
| 0-25 | Policy Anniversary at Policy Year 15 |
| 26-29 | Policy Anniversary at Attained Age 39 |
| 30-51 | Policy Anniversary at Policy Year 10 |
| 52-59 | Policy Anniversary at Attained Age 60 |
| 60 | Policy Anniversary at Attained Age 61 |

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In calculating the amount of the Persistency Credit that may be applied we multiply the amount in each tier of the policy's Available Cash Value by the persistency credit percentage for the applicable Attained Age (the "Tiered Persistency Credit(s)"). The Persistency Credit applicable to the policy is equal to the sum of the Tiered Persistency Credits.

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The persistency credit percentage we expect to apply to each tier of the policy's Available Cash Value for the applicable Attained age is as shown below:

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| | | | |
|:---|:---|:---|:---|
| **Persistency Credit Percentages** | **Persistency Credit Percentages** | **Persistency Credit Percentages** | **Persistency Credit Percentages** |
| **Attained Age** | &nbsp;&nbsp; **Available Cash Value**<br> **up to $250,000**<br>| &nbsp;&nbsp; **Available Cash Value**<br> **Greater than $250,000** <br> **and up to $500,000**<br>| &nbsp;&nbsp; **Available Cash Value**<br> **Greater than $500,000**<br>|
| 0-44 | 0% | &nbsp;&nbsp; 0.02081% Monthly (0.25% <br> on an annual basis)<br>| &nbsp;&nbsp; 0.02497% Monthly (0.30% <br> on an annual basis)<br>|
| 45 and Over | 0% | &nbsp;&nbsp; 0.02497% Monthly (0.30% <br> on an annual basis)<br>| &nbsp;&nbsp; 0.03327% Monthly (0.40% <br> on an annual basis)<br>|

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The persistency credit percentages will never exceed the Maximum Persistency Credit Percentages. If the Persistency Credit is paid, it will be calculated and applied on each Monthly Deduction Day after net premiums are applied and any loan, transfer or surrender requests are processed, but before the Monthly Deduction Charges are deducted.

*Example*. For a policy issued on a Male insured with an Issue Age of 40, the Persistency Credit Start Date would be the policy anniversary in the year which the insured is Attained Age 50. Assuming an Available Cash Value of $525,000, the Persistency Credit applied to the policy on the next Monthly Deduction Day would be ((i) + (ii) + (iii)) or $70.73 where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the portion of the Available Cash Value up to $250,000 multiplied by the applicable persistency credit percentage of 0% *($250,000 x 0.0%= $0);*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the portion of the Available Cash Value from $250,000 - $500,000 multiplied by the applicable persistency credit percentage of x% ($250,000x 0.02497% = $62.41); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the portion of the Available Cash Value above $500,000 multiplied by the applicable persistency credit percentage of x% ($25,000 x 0.03327% = $8.32)

If the persistency credit is paid, it will be applied proportionally to the Cash Value in each of the Investment Divisions and the Fixed Account. For tax purposes, the persistency credit is considered investment experience, not premium.

If paid, the persistency credit will end when your policy ends or is terminated. See "Termination and Reinstatement" for more information.

Your policy's persistency credit is not guaranteed and we may discontinue the feature at any time. For more information on the persistency credit, please contact your registered representative.

***Amount In The Separate Account***

We use the amount allocated to an Investment Division to purchase accumulation units within that Investment Division. We redeem accumulation units from an Investment Division when amounts are loaned, transferred, partially surrendered, fully surrendered, or deducted for charges or loan interest. We calculate the number of accumulation units purchased or redeemed in an Investment Division by dividing the dollar amount of the transaction by the Investment Division's accumulation unit value. On any given day, the amount you have in the Separate Account is the value of the accumulation units you have in all of the Investment Divisions of the Separate Account. The value of the accumulation units you have in a given Investment Division equals the current accumulation unit value for the Investment Division multiplied by the number of accumulation units you hold in that Investment Division.

We determine accumulation unit values for the Investment Divisions as of the end of each Valuation Day.

***Amount In The Fixed Account and the DCA Accounts***

You can choose to allocate all or part of your Net Premium payments to the Fixed Account and, within limits, to the DCA Accounts. Allocations to the DCA Plus Account may be made only during the first year following the Initial

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Premium Transfer Date. Allocations to the DCA Extension Account may only be made after the Initial Premium Transfer Date, and only during the first 7 Policy Years.

The amount you have in the Fixed Account and/or DCA Accounts equals:

&nbsp;&nbsp;&nbsp;&nbsp;(1) the sum of the Net Premium payments you have allocated to the Fixed Account and/or DCA Accounts; plus

&nbsp;&nbsp;&nbsp;&nbsp;(2) any transfers you have made from the Separate Account to the Fixed Account (no transfers can be made into the DCA Accounts); plus

&nbsp;&nbsp;&nbsp;&nbsp;(3) any interest credited to the Fixed Account and/or DCA Accounts; plus

&nbsp;&nbsp;&nbsp;&nbsp;(4) any non-guaranteed Persistency Credit that we may pay to the Fixed Account; minus

&nbsp;&nbsp;&nbsp;&nbsp;(5) any partial surrenders taken from the Fixed Account and/or DCA Accounts; minus

&nbsp;&nbsp;&nbsp;&nbsp;(6) any charges we have deducted from the Fixed Account and/or DCA Accounts; minus

&nbsp;&nbsp;&nbsp;&nbsp;(7) any transfers you have made from the Fixed Account and/or DCA Accounts to the Separate Account.

***Transfers Among Investment Divisions, The Fixed Account and the DCA Accounts***

You can transfer all or part of the Cash Value of your policy (1) from the Fixed Account to the Investment Divisions of the Separate Account, (2) from the DCA Accounts to the Investment Divisions of the Separate Account, (3) from the DCA Accounts to the Fixed Account, (4) from the Investment Divisions of the Separate Account to the Fixed Account, or (5) between the Investment Divisions in the Separate Account. You cannot transfer any portion of the Cash Value of your policy from the Investment Divisions or the Fixed Account to the DCA Accounts.

You can request a transfer under the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;● *Maximum Transfer*—The maximum amount you can transfer from the Fixed Account to the Investment Divisions during any Policy Year is the greater of (1) 20% of the amount in the Fixed Account at the beginning of the Policy Year or (2) $5,000. This means, for example, if you have $50,000 in the Fixed Account, it will take you 8 years to transfer out the entire amount.

During any period when the interest rate credited on the Fixed Account is equal to the Guaranteed Minimum Interest Rate for that Account, the maximum amount you can transfer to the Fixed Account during any Policy Year is the greater of (1) 20% of the total amount in the Investment Divisions at the beginning of the Policy Year or (2) $5,000. This limit, however, will not apply if the insured was age 80 or older on the most recent policy anniversary. If you have exceeded the transfer limit in any Policy Year during which the limit becomes effective, you cannot make any additional transfers to the Fixed Account during that Policy Year while the limit remains in effect. We will count transfers made in connection with the Dollar-Cost Averaging, Automatic Asset Rebalancing, and Interest Sweep options as a transfer toward these Fixed Account maximum limits. Transfers made in connection with DCA Accounts will not count toward these maximum transfer limits.

&nbsp;&nbsp;&nbsp;&nbsp;● *Minimum Transfer*—The minimum amount you can transfer from the Investment Divisions or from the Fixed Account is the lesser of (i) $500 or (ii) the total amount in the Investment Divisions or the Fixed Account.

Minimum transfer limitations do not apply on transfers made from the DCA Accounts to the Investment Divisions or the Fixed Account.

&nbsp;&nbsp;&nbsp;&nbsp;● *Minimum Remaining Value*—If a transfer will cause the amount you have in the Investment Divisions or the Fixed Account to be less than $500, we will transfer the entire amount in the Investment Divisions and/or Fixed Account you have chosen. (This will apply even in cases where you have reached the Maximum Transfer amount outlined above).

&nbsp;&nbsp;&nbsp;&nbsp;● *Transfer Charge*—We may impose a charge of up to $30 per transfer for each transfer after the first twelve in any Policy Year. We will deduct this charge from amounts in the Investment Divisions in the Fixed Account in proportion to amounts in these Investment Options. We will not count any transfer made in connection with the Dollar-Cost Averaging, Automatic Asset Rebalancing, DCA Plus, and Interest Sweep options as a transfer toward the twelve transfer limit.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;● How to request a transfer:

&nbsp;&nbsp;&nbsp;&nbsp;(1) submit your Request in writing on a form we approve to the VPSC at one of the addresses listed on the first page of this prospectus (or any other address we indicate to you in writing);

&nbsp;&nbsp;&nbsp;&nbsp;(2) speak to a customer service representative at 1-800-598-2019 on Business Days between the hours of 9:00 a.m. and 6:00 p.m. Eastern Time; or

&nbsp;&nbsp;&nbsp;&nbsp;(3) make your request online by logging into www.newyorklife.com or through the mobile application.

We do not currently accept faxed or e-mailed transfer requests; however we reserve the right to accept them at our discretion. Transfer requests received after 4:00 p.m. Eastern Time on a Business Day, or on a non-Business Day, will be priced as of the next Business Day. (See "Management and Organization—How to Reach Us for Policy Services" for more information.)

***Limits On Transfers***

*Procedures Designed to Limit Potentially Harmful Transfers*—This policy is not intended as a vehicle for market timing. Accordingly, your ability to make transfers under the policy is subject to limitation if we determine, in our sole opinion, that the exercise of that privilege may disadvantage or potentially hurt the rights or interests of other policyowners.

Any modification of the transfer privilege could be applied to transfers to or from some or all of the Investment Divisions. If not expressly prohibited by the policy, we may, for example:

&nbsp;&nbsp;&nbsp;&nbsp;● reject a transfer request from you or from any person acting on your behalf

&nbsp;&nbsp;&nbsp;&nbsp;● restrict the method of making a transfer

&nbsp;&nbsp;&nbsp;&nbsp;● charge you for any redemption fee imposed by an underlying Fund

&nbsp;&nbsp;&nbsp;&nbsp;● limit the dollar amount, frequency, or number of transfers.

Currently, if you or someone acting on your behalf requests transfers **- either by telephone or electronically -** into or out of one or more Investment Divisions on three or more days within any 60-day period, we will send you a letter notifying you that a transfer limitation has been exceeded. If we receive an additional transfer request that would result in transfers into or out of one or more Investment Divisions on three or more days within any 60-day period, we will process the transfer request. Thereafter, we will immediately suspend your ability to make transfers electronically and by telephone, regardless of whether you have received the warning letter. All subsequent transfer Requests for your policy must then be made through the U.S. mail or an overnight courier and received in Good Order by the VPSC at one of the addresses listed on the first page of this prospectus (or any other address we indicate to you in writing). We will provide you with written notice when we take this action.

We currently do not include the following transfers in these limitations, although we reserve the right to include them in the future: transfers to and from the Fixed Account, the first transfer into the Investment Divisions on the Initial Premium Transfer Date, the first transfer out of the NYLIM VP U.S. Government Money Market Investment Division within six months of the issuance of a policy immediately after funds have been transferred to the NYLIM VP U.S. Government Money Market Investment Division on the Initial Premium Transfer Date, and transfers made pursuant to the Dollar-Cost Averaging, Automatic Asset Rebalancing, and Interest Sweep options.

**We may change these limitations or restrictions or add new ones at any time without prior notice; your policy will be subject to these changes regardless of the Issue Date of your policy.** All transfers are subject to the limits set forth in the prospectus in effect on the date of the transfer request, regardless of when your policy was issued. Note, also, that any applicable transfer rules, either as indicated above or that we may utilize in the future, will be applied even if we cannot identify any specific harmful effect from any particular transfer.

We apply our limits on transfers procedures to all owners of this policy without exception.

Orders for the purchase of Eligible Portfolio shares are subject to acceptance by the relevant Fund. We will reject or reverse, without prior notice, any transfer request into an Investment Division if the purchase of shares in the corresponding Eligible Portfolio is not accepted by the Fund for any reason.

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For transfers into multiple Investment Divisions, the entire transfer request will be rejected or reversed if any part of it is not accepted by any one of the Funds or is restricted for any reason. Standing allocation instructions into a Fund that has been restricted will also be rejected, reversed or modified until further allocation instructions are received from you. For transfers through the Dollar Cost Averaging programs, the restricted portion of the transfer will be temporarily allocated to the Money Market investment division. For programs, including Automatic Asset Rebalancing and Interest Sweep, the whole program may be terminated or suspended if any portion of the transfer is to a restricted Fund. We will provide you with written notice of any transfer request we reject, reverse, or modify. You should read the Fund prospectuses for more details regarding their ability to refuse or restrict purchases or redemptions of their shares. In addition, a Fund may require us to share specific policyowner transactional data with them, such as taxpayer identification numbers and transfer information.

*Risks Associated with Potentially Harmful Transfers*—Our procedures are designed to limit potentially harmful transfers. However, we cannot guarantee that our procedures will be effective in detecting and preventing all transfer activity that could disadvantage or potentially hurt the rights or interests of other policyowners. The risks described below apply to policyowners and other persons having material rights under the policies.

&nbsp;&nbsp;&nbsp;&nbsp;● We do not currently impose redemption fees on transfers or expressly limit the number or size of transfers in a given period. Redemption fees, transfer limits, and other procedures or restrictions may be more or less successful than our procedures in deterring or preventing potentially harmful transfer activity.

&nbsp;&nbsp;&nbsp;&nbsp;● Our ability to detect and deter potentially harmful transfer activity may be limited by policy provisions.

The underlying Eligible Portfolios may have adopted their own policies and procedures with respect to trading of their respective shares. The prospectuses for the underlying Eligible Portfolios, in effect at the time of any trade, describe any such policies and procedures. The trading policies and procedures of an underlying Eligible Portfolio may vary from ours and be more or less effective at preventing harm. Accordingly, the sole protection you may have against potentially harmful frequent transfers is the protection provided by the procedures described herein.

&nbsp;&nbsp;&nbsp;&nbsp;● Other insurance companies, which invest in the Eligible Portfolios underlying this policy, may have adopted their own policies and procedures to detect and prevent potentially harmful transfer activity. The policies and procedures of other insurance companies may vary from ours and be more or less effective at preventing harm. If their policies and procedures fail to successfully discourage potentially harmful transfer activity, there could be a negative effect on the owners of all of the variable policies, including ours, whose variable Investment Options correspond to the affected underlying Eligible Portfolios.

&nbsp;&nbsp;&nbsp;&nbsp;● Potentially harmful transfer activity could result in reduced performance results for one or more Investment Divisions, due to among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) an adverse effect on Portfolio management, such as:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a)

impeding a Portfolio manager's ability to sustain an investment objective;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b)

causing the underlying Eligible Portfolio to maintain a higher level of cash than would otherwise be the case; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c)

causing an underlying Eligible Portfolio to liquidate investments prematurely (or otherwise at an inopportune time) to pay withdrawals or transfers out of the underlying Eligible Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) increased administrative and Fund brokerage expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) dilution of the interests of long-term investors in an Investment Division if purchases or redemptions into or out of an underlying Eligible Portfolio are made when, and if, the underlying Eligible Portfolio's investments do not reflect an accurate value (sometimes referred to as "time-zone arbitrage" and "liquidity arbitrage").

***Additional Benefits Through Riders And Options***

Subject to jurisdictional availability, you can apply for additional benefits by selecting one or more optional riders. The Living Benefits Rider, Insurance Exchange Rider, Overloan Protection Rider and the Spouse's Paid-Up Insurance

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Purchase Option Rider are available without any additional ongoing periodic charges. However, a one-time charge is assessed if the Living Benefits Rider or Overloan Protection Rider is exercised and a conditional premium payment may be required if the Insurance Exchange Rider is exercised. (See "Table of Fees and Expenses" for more information.) The Insurance Exchange Rider, Spouse's Paid-Up Insurance Purchase Option Rider and Overloan Protection Rider can be elected only upon the issuance of the policy; the Living Benefits Rider can be elected at any time, subject to age and/or underwriting restrictions, provided they are available in your state of issue. Dollar-Cost Averaging, Dollar-Cost Averaging Plus Account (only available at issuance of the policy), Dollar-Cost Averaging Extension Account, Automatic Asset Rebalancing, Interest Sweep and Expense Allocation are options that are available without any additional ongoing costs. See "State Variations and Rider Availability" for a list of riders or options (if any) that may not be available in your state. Please note that the examples provided below are intended to illustrate the operation of the riders. The rates and values actually applicable to your policy will vary from those presented.

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| | | | |
|:---|:---|:---|:---|
| **Name of**<br> **Benefit**<br>| **Purpose** | **Is this Benefit**<br> **Standard or Optional?**<br>| **Brief Description of** <br> **Restrictions/**<br> **Limitations**<br>|
| **Dollar-Cost** <br> **Averaging**<br>| Dollar-Cost Averaging is a <br> systematic method of <br> investing that allows you to <br> purchase shares of the <br> Investment Divisions at <br> regular intervals in fixed <br> dollar amounts so that the <br> cost of your shares is <br> averaged over time. <br>| Optional | •Dollar-Cost Averaging does <br> not assure growth or <br> protect against a loss in <br> declining markets.<br>•You may not make <br> Dollar-Cost Averaging <br> transfers from the Fixed <br> Account, but you can make <br> Dollar-Cost Averaging <br> transfers into the Fixed <br> Account.<br>•Your cash value must be <br> $2,500 or more to elect <br> Dollar-Cost Averaging and <br> it will be automatically <br> suspended if the Cash <br> Value is less than $2,000 <br> on a transfer date.<br>•You may not elect <br> Dollar-Cost Averaging if <br> you have chosen <br> Automatic Asset <br> Rebalancing.<br>•This option is not available <br> with the Dollar-Cost <br> Averaging Plus Account or <br> Dollar-Cost Averaging <br> Extension Account. <br>|
| **Dollar-Cost** <br> **Averaging Plus** <br> **Account**<br>| The DCA Plus Program <br> allows you to make regular <br> periodic allocations from the <br> DCA Plus Account into the <br> Investment Divisions and/or <br> Fixed Account over the <br> twelve-month period <br> following the Initial Premium <br> Transfer Date. The DCA Plus <br> Account will credit interest to <br> the amount in the account at<br>| Optional | •Use of the DCA Plus <br> Account does not assure <br> growth or protect against <br> loss in declining markets.<br>•The DCA Plus Account <br> must be elected at the time <br> your policy is issued.<br>•Because the entire initial <br> Premium is not in the DCA <br> Plus Account for the full <br> year, the annual effective <br>|

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| | | | |
|:---|:---|:---|:---|
| **Name of**<br> **Benefit**<br>| **Purpose** | **Is this Benefit**<br> **Standard or Optional?**<br>| **Brief Description of** <br> **Restrictions/**<br> **Limitations**<br>|
|  | a rate, which we declare <br> periodically, in advance, and <br> at our sole discretion, but the <br> rate will never be less than <br> the GMIR.<br>|  | rate will not be achieved.<br> •The entire initial Net <br> Premium, which must be a <br> minimum of $1,000, must <br> be allocated to the DCA <br> Plus Account.<br>•You cannot use traditional <br> Dollar-Cost Averaging or <br> Interest Sweep until such <br> time that the DCA Plus <br> Account is closed.<br>•The DCA Plus Account will <br> close automatically 12 <br> months following the Initial <br> Premium Transfer Date, or <br> such time that the balance <br> in the DCA Plus Account <br> on a DCA Plus Transfer <br> Date falls below $100, <br> whichever is sooner.<br>•You cannot make transfers <br> into the DCA Plus Account.<br>|
| **Dollar-Cost** <br> **Averaging** <br> **Extension Account**<br>| After the completion of the <br> DCA Plus Program, the DCA <br> Extension Program allows <br> you to make regular periodic <br> allocations from the DCA <br> Extension Account to the <br> Investment Divisions and/or <br> Fixed Account when a single <br> premium payment of at least <br> $10,000 is made. The DCA <br> Extension Account will credit <br> interest to the amount in the <br> account at a rate, which we <br> declare periodically, in <br> advance, and at our sole <br> discretion, but the rate will <br> never be less than the GMIR.<br>| Optional | •Use of the DCA Extension <br> Program does not assure <br> growth or protect against <br> loss in declining markets.<br>•Only available after the <br> completion of the DCA <br> Plus Program and in the <br> first 7 Policy Years.<br>•Because the entire initial <br> Premium is not in the DCA <br> Extension Account for the <br> full year, the annual <br> effective rate will not be <br> achieved.<br>•You cannot use traditional <br> Dollar-Cost Averaging or <br> Interest Sweep until such <br> time that the DCA <br> Extension Account is <br> closed.<br>•The cash value in the DCA <br> Extension Account must be <br> at least $100 for the <br> program to continue.<br>•You cannot make transfers <br> into this account.<br>|
| **Automatic Asset** <br> **Rebalancing**<br>| Automatically rebalances the <br> amount you have in the <br> Separate Account on a<br>| Optional | •Your Separate Account <br> Value must be at least <br> $2,500 to elect this option. <br>|

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| | | | |
|:---|:---|:---|:---|
| **Name of**<br> **Benefit**<br>| **Purpose** | **Is this Benefit**<br> **Standard or Optional?**<br>| **Brief Description of** <br> **Restrictions/**<br> **Limitations**<br>|
|  | schedule you select among <br> the Investment Divisions to <br> maintain a predetermined <br> percentage invested in the <br> Investment Division(s) you <br> have selected.<br>|  | We will suspend this option <br> automatically if the <br> Separate Account Value is <br> less than $2,000 on a <br> rebalancing date.<br>•You may not elect <br> Automatic Asset <br> Rebalancing if you have <br> chosen Dollar-Cost <br> Averaging or any of the <br> Dollar-Cost Averaging <br> Accounts. <br>|
| **Interest Sweep** | Automatically transfers <br> interest earned on the Fixed <br> Account to one or any <br> combination of Investment <br> Divisions.<br>| Optional | •The value in the Fixed <br> Account must be at least <br> $2,500 to elect this option <br> and it will be automatically <br> suspended if the amount in <br> the Fixed Account falls <br> below $2,000.<br>•You cannot use this option <br> if you have instructed us to <br> pay any part of your policy <br> charges from the Fixed <br> Account.<br>•If you want to use this <br> option and allocate your <br> charges, your charges <br> must be allocated to the <br> NYLIM VP U.S. <br> Government Money Market <br> Investment Division.<br>•An Interest Sweep transfer <br> cannot cause more than <br> the greater of (i) $5,000 or <br> (ii) 20% of the amount you <br> have in the Fixed Account <br> at the beginning of the <br> Policy Year to be <br> transferred from the Fixed <br> Account.<br>•This option is not available <br> with the Dollar-Cost <br> Averaging Plus Account or <br> Dollar-Cost Averaging <br> Extension Account.<br>|
| **Expense Allocation** <br> **Option**<br>| You can choose how to <br> allocate certain Monthly <br> Deduction Changes from <br> your Cash Value.<br>| Optional | •Expense Allocation is only <br> available from the Fixed <br> Account or the NYLIM VP <br> U.S. Government Money <br> Market Investment Division.<br>|
| **Premium Deposit** | Allows you to fund up to 14  | Optional | •Subject to jurisdictional  |

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| | | | |
|:---|:---|:---|:---|
| **Name of**<br> **Benefit**<br>| **Purpose** | **Is this Benefit**<br> **Standard or Optional?**<br>| **Brief Description of** <br> **Restrictions/**<br> **Limitations**<br>|
| **Account ("PDA")** | annual Planned Premiums or <br> 179 monthly Planned <br> Premiums through a lump <br> sum deposit into an <br> interest-bearing PDA. The <br> amount in the PDA earns <br> interest at a rate effective on <br> the date the PDA is opened <br> and that will not change for <br> the duration of the PDA. <br>|  | requirements, the PDA may <br> be available to you through <br> an agreement and/or rider. <br> See "State Variations and <br> Rider Availability" for more <br> information.<br>•The amount you may fund <br> into the PDA may be <br> limited by the terms of the <br> PDA Agreement and/or <br> Rider.<br>•You may only make one <br> lump sum deposit into the <br> PDA.<br>•Use of the PDA does not <br> guarantee that the policy <br> will not lapse. <br>•There may be limits on <br> withdrawals from the PDA <br> and a withdrawal fee may <br> apply.<br>•Planned Premium mode <br> must be monthly or annual <br> and cannot be changed <br> during the duration of the <br> PDA.<br>•The Initial Premium must <br> be paid outside of the <br> PDA.<br>•The PDA can only be <br> elected within 45 days after <br> the Initial Premium is paid <br> into the policy. <br>|
| **No Lapse** <br> **Guarantee**<br>| This ensures that your policy <br> will remain in effect during <br> the Guarantee Period, <br> provided that your policy <br> premium payments satisfy <br> the No Lapse Guarantee <br> Premium Test on each <br> Monthly Deduction Day. This <br> benefit prevents your policy <br> from lapsing during the <br> Guarantee Period even if the <br> Cash Surrender Value is <br> insufficient to cover the <br> Monthly Deduction Charges <br> on a Monthly Deduction Day.<br>| Standard | •The duration of the No <br> Lapse Guarantee is 10 <br> years.<br>•The No Lapse Guarantee <br> will become inactive before <br> the end of the Guarantee <br> Period if, on any Monthly <br> Deduction Day, your <br> premium payments do not <br> pass the No Lapse <br> Guarantee Premium Test.<br>|
| **Living Benefits** <br> **Rider (filed as the** <br> **Accelerated**<br>| Advances a portion of the <br> Life Insurance Benefit <br> Proceeds upon Insured<br>| Optional | •Minimum accelerated <br> benefit amount is $25,000.<br>•Maximum accelerated  |

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| | | | |
|:---|:---|:---|:---|
| **Name of**<br> **Benefit**<br>| **Purpose** | **Is this Benefit**<br> **Standard or Optional?**<br>| **Brief Description of** <br> **Restrictions/**<br> **Limitations**<br>|
| **Benefits Rider)** | having a life expectancy of <br> 12 months or less.<br>|  | benefit amount is $250,000 <br> (total for all NYLIAC and <br> affiliated companies' <br> policies).<br>•A payment under this rider <br> will reduce your policy's <br> Face Amount, rider death <br> benefits, monthly <br> deductions, Cash Value, <br> and any unpaid policy loan.<br>•There is a $150 <br> administrative fee to <br> exercise the rider.<br>|
| **Spouse's Paid-Up** <br> **Insurance Purchase** <br> **Option Rider**<br>| Allows a spouse who is the <br> beneficiary under the policy <br> to purchase a new paid-up <br> whole life insurance policy on <br> his or her own life without <br> evidence of insurability when <br> the insured dies.<br>| Standard | •The maximum Face <br> Amount of the spouse's <br> new paid-up whole life <br> policy is the lesser of <br> (1) the maximum amount <br> of the Life Insurance <br> Benefits Proceeds (before <br> any unpaid loan is <br> deducted), or (2) <br> $5,000,000.<br>|
| **Insurance** <br> **Exchange Rider**<br>| This rider allows you to <br> exchange the policy for a <br> new NYLIAC variable <br> universal life policy issued on <br> a new insured using the cash <br> values from your original <br> policy.<br>| Standard | •You must provide evidence <br> of insurability on the new <br> insured and have an <br> insurable interest in the <br> new insured.<br>•You may be required to <br> make a conditional <br> premium payment to <br> exercise this rider.<br>•Exercising this rider will <br> have tax consequences.<br>•This rider may be <br> exercised only once. <br>|
| **Overloan Protection** <br> **Rider**<br>| When activated, the <br> Overloan Protection Rider <br> guarantees that your policy <br> will not lapse even if: (1) the <br> policy's Cash Surrender <br> Value is insufficient to cover <br> the current Monthly <br> Deduction Charges or (2) the <br> policy's outstanding loans <br> plus accrued loan interest <br> exceed its Cash Value.<br>| Standard  | To activate this rider, the <br> following conditions must be <br> met:<br>•The policy must be in effect <br> for at least 15 years.<br>•The insured must be at <br> least age 75.<br>•Any outstanding loan plus <br> accrued loan interest <br> exceeds the Face Amount <br> of the policy in effect at the <br> time of activation.<br>•Any outstanding loan plus <br> accrued loan interest must <br>|

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| | | | |
|:---|:---|:---|:---|
| **Name of**<br> **Benefit**<br>| **Purpose** | **Is this Benefit**<br> **Standard or Optional?**<br>| **Brief Description of** <br> **Restrictions/**<br> **Limitations**<br>|
|  |  |  | be less than 99% of the <br> policy Cash Value after the <br> deduction of any surrender <br> charges and the one-time <br> rider charge.<br>•Activation of the rider <br> cannot cause the policy to <br> violate IRC Section 7702 at <br> any duration.<br>•Cumulative partial <br> surrenders taken must be <br> no less than the total <br> premiums paid under the <br> policy.<br>•Activation results in certain <br> changes to your policy, <br> including changes to the <br> face amount and a <br> reduction in the Life <br> Insurance Proceeds. In <br> addition, all other riders will <br> end, with the exception of <br> the Spouse's Paid-Up <br> Insurance Purchase Option <br> Rider, all Cash Value will <br> be transferred to the Fixed <br> Account, and your ability to <br> make other policy changes <br> will be limited. <br>|

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&nbsp;&nbsp;&nbsp;&nbsp;● Dollar-Cost Averaging

Dollar-Cost Averaging is a systematic method of investing which allows you to purchase shares of the Investment Division(s) at regular intervals in fixed dollar amounts so that the cost of your shares is averaged over time. The main objective of Dollar-Cost Averaging is to achieve an average cost per share that is lower than the average price per share in a fluctuating market. Because you transfer the same dollar amount to a given Investment Division with each transfer, you purchase more units in an Investment Division if the value per unit is low, and fewer units if the value per unit is high. Therefore, you may achieve a lower than average cost per unit if prices fluctuate over the long term. Similarly, for each transfer out of an Investment Division, you sell more units in an Investment Division if the value is low and fewer units if the value per unit is high. Dollar-Cost Averaging does not assure growth or protect against a loss in declining markets. Because it involves continuous investing regardless of price levels, you should consider your financial ability to continue investing during periods of low price levels.

You may not make Dollar-Cost Averaging transfers from the Fixed Account, but you can make Dollar-Cost Averaging transfers into the Fixed Account. In addition, you cannot make transfers into the DCA Accounts. Transfers out of the DCA Plus Account are subject to the DCA Plus Program and transfers out of the DCA Extension Account are subject to the DCA Extension Program (see below).

You can elect this option if your Cash Value is $2,500 or more. We will suspend this option automatically if the Cash Value is less than $2,000 on a transfer date. Once the Cash Value equals or exceeds $2,000, the Dollar-Cost Averaging transfers will resume automatically as last requested.

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To set up Dollar-Cost Averaging, you may contact us by phone on our toll-free number (1-800-598-2019) or send a completed Dollar-Cost Averaging form in Good Order to the VPSC at one of the addresses listed on the first page of the prospectus or by any other method we make available. We will make Dollar-Cost Averaging transfers on the date you specify, or if the date you specify is not a Business Day, on the next Business Day. You can specify any day of the month other than the 29th, 30th, or 31st of a month. NYLIAC must receive your Request no later than five (5) Business Days prior to the date the transfer(s) are scheduled to begin. If your Request for this option is received less than five (5) Business Days prior to the date you request it to begin, the transfer(s) will begin on the date you have specified in the month following receipt of your request in Good Order.

You may cancel the Dollar-Cost Averaging option at any time. To cancel the Dollar-Cost Averaging option, you may call us toll-free at 1-800-598-2019, or send a Request (or by any other method we make available). You may not elect Dollar-Cost Averaging if you have chosen Automatic Asset Rebalancing . However, you have the option of alternating between Dollar-Cost Averaging and Automatic Asset Rebalancing. Dollar-Cost Averaging is not available when the DCA Plus Program or DCA Extension Program is in place.

&nbsp;&nbsp;&nbsp;&nbsp;● Dollar-Cost Averaging Plus Account

The DCA Plus Program allows you to make regular periodic allocations from the DCA Plus Account into the Investment Divisions and/or Fixed Account over the twelve-month period following the Initial Premium Transfer Date. The DCA Plus Account must be elected at the time your policy is issued. It involves the automatic transfer of a specified amount from the DCA Plus Account into the Investment Divisions and/or Fixed Account according to the allocation instructions provided by you. Subsequent premium payments received during the DCA Plus Transfer Period will be allocated similarly unless you direct us otherwise.

The DCA Plus Account will credit interest at a rate, which we declare periodically, in advance, and at our sole discretion. The rate may fluctuate throughout the DCA Plus Transfer Period, but it will never be less than the GMIR. We may credit different interest rates to the DCA Accounts, the Fixed Account, and to the Loan Account. Net Premium payments to the DCA Plus Account will receive the applicable interest rate in effect on the Business Day we receive that premium payment. Interest rates for subsequent premium payments into the DCA Plus Account may be different from the rate applied to prior premium payments made into the DCA Plus Account. Interest accrues and is credited daily. Contact your registered representative for the current rate. Amounts in the DCA Plus Account only earn the DCA Plus Account interest rate while they are in the DCA Plus Account waiting to be transferred to the Investment Divisions and/or Fixed Account. Because the entire Initial Premium is not in the DCA Plus Account for the full year, the annual effective rate will not be achieved.

If you elect to participate in this program, the entire initial Net Premium, which must be a minimum of $1,000, must be allocated to the DCA Plus Account. Subsequent premiums received within 12 months following the Initial Premium Transfer Date will also be allocated to the DCA Plus Account unless you direct us otherwise. If you participate in the DCA Plus Account program, you cannot use traditional Dollar-Cost Averaging or Interest Sweep until such time that the DCA Plus Account is closed. The DCA Plus Account will close automatically 12 months following the Initial Premium Transfer Date, or such time that the balance in the DCA Plus Account on a DCA Plus Transfer Date falls below $100, whichever is sooner.

Amounts in the DCA Plus Account will be transferred to the Investment Divisions and/or Fixed Account on the monthly anniversary following the Initial Premium Transfer Date. The amount of each transfer will be calculated at the time of the transfer based on the number of remaining monthly transfers and the remaining value in the DCA Plus Account as of the date of the transfer. Transfers from the DCA Plus Account occur automatically and are based on the following formula:

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| | |
|:---|:---|
| **Monthly Anniversary of the**<br> **Initial Premium Transfer Date**<br>| &nbsp;&nbsp; **Amount Transferred from the DCA Plus Account**<br> **(as a percentage of the DCA Plus Account Value**<br> **as of the applicable Month)**<br>|
| 1 | 8.33% |
| 2 | 9.09% |
| 3 | 10.00% |
| 4 | 11.11% |
| 5 | 12.50% |
| 6 | 14.29% |
| 7 | 16.67% |
| 8 | 20.00% |
| 9 | 25.00% |
| 10 | 33.33% |
| 11 | 50.00% |
| 12 | 100.00% |

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The entire value of the DCA Plus Account will be completely transferred to the Investment Divisions and/or Fixed Account within 12 months of the Initial Premium Transfer Date. For example, if you allocate an Initial Premium payment to the DCA Plus Account under which the 12-month term will end on December 31, 2026 and we receive a subsequent premium payment for the DCA Plus Account before December 31, 2026, we will allocate the subsequent premium payment to the same DCA Plus Account and transfer the entire value of the DCA Plus Account to the Investment Divisions and/or Fixed Account by December 31, 2026 based on the schedule shown above, even though a portion of the money was not in the DCA Plus Account for the entire 12-month period.

**You cannot make transfers into the DCA Plus Account.** 

Use of the DCA Plus Account does not assure growth or protect against loss in declining markets. Assets in our General Account support the DCA Plus Account.

You can cancel the DCA Plus Account at any time. To cancel the DCA Plus Account, you must send a Request. Upon receiving your cancellation Request we will transfer the entire DCA Plus Account balance to the Investment Divisions and/or Fixed Account according to the allocation instructions provided by you. DCA Plus may not be available in all jurisdictions.

&nbsp;&nbsp;&nbsp;&nbsp;● Dollar-Cost Averaging Extension Account

The DCA Extension Program is another optional feature that allows you to make regular periodic allocations from the DCA Extension Account to the Investment Divisions and/or Fixed Account. This program, however, is only available after issue and completion of the DCA Plus Program (if applicable), and only for the first 7 Policy Years (the "DCA Extension Availability Period"). If you select this feature, any single premium payment that we receive during the DCA Extension Availability Period that is a minimum of $10,000 (the "DCA Extension Eligible Premium") will be applied to the DCA Extension Account. Beginning on the monthly anniversary of the date we receive a DCA Extension Eligible Premium, and continuing for a period of 12 months after we receive that premium, NYLIAC will make periodic transfers on your behalf from the DCA Extension Account into the Investment Divisions and/or Fixed Account in accordance with your premium allocation instructions.

The DCA Extension Account will credit interest at a rate which we declare periodically, in advance, and at our sole discretion. The rate may fluctuate throughout the DCA Extension Transfer Period, but it will never be less than the GMIR. We may credit different interest rates to the DCA Extension Account, the Fixed Account, and the Loan Account. Net Premium payments to the DCA Accounts will receive the applicable interest rate in effect on the Business Day we receive that DCA Extension Eligible Premium payment. Interest rates for

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subsequent DCA Extension Eligible Premium payments may be different from the rate applied to prior DCA Extension Eligible Premium payments. Interest accrues and is credited daily. Contact your registered representative for the current rate. Amounts in the DCA Extension Account only earn the DCA Accounts interest rate while they are in the DCA Extension Account waiting to be transferred to the Investment Divisions and/or Fixed Account. Because the entire DCA Extension Eligible Premium is not in the DCA Extension Account for the full year, the annual effective rate will not be achieved.

If you elect to participate in this program, you cannot use traditional Dollar-Cost Averaging or Interest Sweep until such time that the DCA Extension Account is closed. For DCA Extension to continue as scheduled, the Cash Value in the DCA Extension Account must be at least $100. If the Cash Value falls below this minimum on a DCA Extension transfer date during the 12 month DCA Extension Transfer Period, the DCA Extension Account will close and any remaining balance will be transferred in accordance with your DCA Extension allocation instructions.

You may make a maximum of 12 DCA Extension Eligible Premium payments in a given calendar year. Each DCA Extension Eligible Premium received by us during DCA Extension Availability Period will have its own 12 month transfer schedule, based on the following formula:

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| | |
|:---|:---|
| The Monthly Anniversary<br> after each DCA Extension<br> Eligible Premium is received<br>| Amount Transferred from<br> the DCA Extension Account<br> per Eligible Premium Payment<br> (as a percentage of the DCA <br> Extension Account Value)<br>|
| 1 | 8.33% |
| 2 | 9.09% |
| 3 | 10.00% |
| 4 | 11.11% |
| 5 | 12.50% |
| 6 | 14.29% |
| 7 | 16.67% |
| 8 | 20.00% |
| 9 | 25.00% |
| 10 | 33.33% |
| 11 | 50.00% |
| 12 | 100.00% |

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Use of the DCA Extension Account does not assure growth or protect against loss in declining markets. Assets in our General Account support the DCA Extension Account.

You can cancel the DCA Extension Account at any time. To cancel the DCA Extension Account, you must send a written cancellation Request or call us toll-free at 1-800-598-2019. Upon receiving your cancellation request we will transfer the entire DCA Extension Account balance to the Investment Divisions and/or Fixed Account according to the allocation instructions provided by you. The DCA Extension Program may not be available in all jurisdictions.

The DCA Extension Program is not available while the DCA Plus Program is in effect.

&nbsp;&nbsp;&nbsp;&nbsp;● Automatic Asset Rebalancing (AAR)

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If you choose this option, we will rebalance your assets automatically on a schedule you select among the Investment Divisions to maintain a predetermined percentage invested in the Investment Division(s) you have selected. For example, you could specify that 50% of the amount you have in the Investment Divisions of the Separate Account be allocated to one Investment Division, while the other 50% be allocated to another Investment Division. Over time, however, performance variations in each of these Investment Divisions would cause this balance to shift. With the Automatic Asset Rebalancing (AAR) option, we will rebalance the amount you have in the Separate Account among the Investment Divisions you have selected so that they are invested in the percentages you specify. Values in the Fixed Investment Options are excluded from AAR.

We will make AAR transfers either quarterly, semi-annually or annually (but not monthly), based on your Policy Anniversary Date. If your Policy Anniversary Date is on the 29th, 30th or 31st of a month, the rebalancing transfer will occur on the 28th of the month. Your AAR will be cancelled if a premium allocation change or fund transfer is submitted on your behalf and the AAR is not also modified at the time to be consistent with your fund transfer and premium allocation changes. To process AAR transfers, or to modify an existing AAR, you may call us toll-free at 1-800-598-2019, or send a completed AAR form in Good Order to the VPSC at one of the addresses listed on the first page of the prospectus (or by any other method we make available). NYLIAC must receive the request in writing no later than five (5) Business Days prior to the date the transfer(s) are scheduled to begin. If your request for this option is received less than five (5) Business Days prior to the date you request it to begin, the transfer(s) will begin on the date you have specified in the month following receipt of your request.

You can elect this option if your Separate Account Value is $2,500 or more. We will suspend this option automatically if the Separate Account Value is less than $2,000 on a rebalancing date. Once the Separate Account Value equals or exceeds this amount, AAR will resume automatically as scheduled. There is no minimum amount that you must allocate among Investment Divisions for this option.

You can cancel or modify the AAR option at any time. To cancel the AAR option, you may call us at 1-800-598-2019 or send a cancellation Request. You cannot elect AAR if you have chosen Dollar-Cost Averaging. However, you have the option of alternating between the two options. AAR is available when the DCA Plus and DCA Extension Programs are in place but funds in the DCA Accounts are not eligible for AAR.

&nbsp;&nbsp;&nbsp;&nbsp;● Interest Sweep

You can instruct us to periodically transfer the interest credited to the Fixed Account to the Investment Division(s) you specify. You can elect this option as long as the amount in the Fixed Account is at least $2,500. We will make all Interest Sweep transfers on the date you specify or, if the date you specify is not a Business Day, on the next Business Day. You can specify any day of the month to make these automatic transfers, other than the 29th, 30th, or 31st of the month. We will not process an Interest Sweep transfer unless you contact us on our toll-free number (1-800-598-2019) or send a Request. NYLIAC must receive the request no later than five (5) Business Days prior to the date the transfer(s) are scheduled to begin. If your request for this option is received less than five (5) Business Days prior to the date you request it to begin, the transfer(s) will begin on the date you have specified in the month following receipt of your request.

You cannot choose the Interest Sweep option if you have instructed us to pay any part of your policy charges from the Fixed Account. If you want to elect the Interest Sweep option and you want to allocate your charges, you must allocate your charges to the NYLIM VP U.S. Government Money Market Investment Division.

You can request Interest Sweep in addition to either the Dollar-Cost Averaging or Automatic Asset Rebalancing option. If an Interest Sweep transfer is scheduled for the same day as a Dollar-Cost Averaging or Automatic Asset Rebalancing transfer, we will process the Interest Sweep transfer first.

If an Interest Sweep transfer would cause more than the greater of (i) $5,000 or (ii) 20% of the amount you have in the Fixed Account at the beginning of the Policy Year to be transferred from the Fixed Account, we will not process the transfer and we will suspend the Interest Sweep option. If the amount you have in the Fixed Account is less than $2,000, we will automatically suspend this option. Once the amount you have in the Fixed Account equals or exceeds $2,000, the Interest Sweep option will resume automatically as scheduled. You can cancel the Interest Sweep option at any time. To cancel the Interest Sweep option, you may contact us at our toll-free number (1-800-598-2019) or send a cancellation Request. Interest Sweep is not available when the DCA Plus or DCA Extension Program is in place.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;● Expense Allocation Option

At any time, you can choose how to allocate certain Monthly Deduction Charges from your Cash Value. (See "Charges Associated with the Policy—Deductions from Cash Value" for details.) Expense Allocation is only available from the Fixed Account or the NYLIM VP U.S. Government Money Market Investment Division.

&nbsp;&nbsp;&nbsp;&nbsp;● Premium Deposit Account ("PDA")

A Premium Deposit Account ("PDA") is an optional feature you can use to fund planned premiums into your policy. You may fund from 1 to 14 years of annual planned premiums or 11 to 179 monthly planned premiums through the PDA. You may elect this option by entering into a PDA Agreement with NYLIAC and/or through the election of a PDA Rider, subject to jurisdictional requirements. See "State Variations and Rider Availability" for information on how the PDA is available and other state specific variations.

Under the PDA Agreement, after paying your Initial Premium Payment directly into the policy, you can make a lump sum deposit into an interest-bearing PDA. The deposit and interest earned on the amount in the PDA will be used to automatically pay subsequent planned premiums into your policy, either on a monthly or annual basis. Once the annual or monthly mode is selected it cannot be changed for the term of the PDA. Interest will be credited daily on the funds remaining in the PDA at an annual rate(s)-effective on the date of the PDA and will not change for the term of the PDA. If you lower your planned premiums, we will pay the new lowered planned premiums from the PDA and return the difference remaining in the PDA to you (subject to any applicable withdrawal fee). There may be tax withholding amounts that may also reduce the amount remaining the PDA. If you increase your planned premiums, we will pay the new increased planned premium from the PDA and we will notify you of any shortfall. Upon election of the PDA, you will receive a notice with the planned premium schedule and the interest rate applicable to your PDA.

Withdrawals are permitted from the PDA and may be subject to a withdrawal fee. The withdrawal fee may change but will never exceed 10% of the withdrawal. Generally, there are two types of withdrawals permitted from the PDA (see "State Variations and Rider Availability" for state specific variations):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● One-Time Withdrawal - During the first 3 Policy Years after you make the deposit to the PDA, you may make a one-time withdrawal that is equal to the lesser of: (a) 10% of the amount in the PDA; or (b) $25,000. We must receive a signed notice from you electing to make this one-time withdrawal no later than 31 days before the policy's third policy anniversary. A withdrawal fee will not be deducted from a One-Time Withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● A Full Cash Withdrawal - In most jurisdictions, a full cash withdrawal of the remaining PDA balance is permitted at any time and is generally subject to a withdrawal fee that will never exceed 10%. However, a full cash withdrawal will not incur a withdrawal fee in the following cases:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The policy is canceled in accordance with the Free Look provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The date the policy ends due to death of the Insured.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● When benefits are paid under the Living Benefits Rider.

The PDA Agreement and/or Rider will end, and we will pay you the entire amount in the PDA, if any, on the earliest of the following to occur: the date the policy ends, the date of a full cash withdrawal of the PDA (less any applicable withdrawal fee) or when there are no funds remaining in the PDA. After the PDA ends, any additional premium payments must be made by another method for paying premiums discussed in this prospectus.

The deposit into the PDA is not a premium payment and the PDA has no cash value or loan value under the policy. The PDA is not registered under the 1933 Act or as an investment company under the 1940 Act and is part of our General Account. As such, amounts allocated to the PDA do not have the benefits and protections of these statutes and are subject to our financial strength and claims paying ability and the claims of our general creditors. Use of the PDA does not guarantee the policy will not lapse and even if you pay all your planned premiums, additional premiums may be needed to keep the policy in force. The deposit into the PDA does not affect the Surrender Charge Schedule.

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Any interest earned on the PDA will be taxable and, subject to applicable requirements, will be reported to you and the IRS on a Form 1099-INT. As the deposit into the PDA is not a premium payment, it will not be used in determining whether the policy is a Modified Endowment Contract, but planned premiums paid out of the PDA will be used for this purpose.

*Example:* The following illustrates how the PDA can be used with the policy. A policyowner makes an Initial Premium payment of $10,000 into the policy and wants to open a PDA to fund 6 future annual Planned Premium payments of $10,000 each. Assuming a hypothetical interest rate of 5.25%, the policyowner would make a lump sum deposit of $50,353.64 to fund the PDA. The following chart depicts the planned premiums made into the policy and how the interest earned on the PDA contributes to those premium payments.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Year** | &nbsp;&nbsp; **PDA**<br> **Beginning Balance**<br>| &nbsp;&nbsp; **Interest**<br> **Earned**<br>| &nbsp;&nbsp; **Annual Premium**<br> **paid from PDA**<br>| &nbsp;&nbsp; **PDA**<br> **Ending Balance**<br>|
| 1 | $50353.64 | $2643.57 | -$10000 | $42997.21 |
| 2 | $42997.21 | $2257.35 | -$10000 | $35254.56 |
| 3 | $35254.56 | $1850.86 | -$10000 | $27105.42 |
| 4 | $27105.42 | $1423.03 | -$10000 | $18528.45 |
| 5 | $18528.45 | $972.74 | -$10000 | $9501.19 |
| 6 | $9501.19 | $498.81 | -$10000 | $0 |

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&nbsp;&nbsp;&nbsp;&nbsp;● Living Benefits Rider (filed as Accelerated Benefits Rider): Under this rider, if the insured has a life expectancy of twelve months or less, you may request a portion or all of the Life Insurance Benefit Proceeds as an accelerated death benefit. You must elect this rider to have it included in your policy. This election can be made at any time.

You can cancel this rider at any time by sending us a Request. This rider will end on the date we receive your Request.

You may elect to receive an accelerated death benefit of 25%, 50%, 75%, or 100% of certain eligible proceeds from your Life Insurance Benefit Proceeds. We will pay you an amount equal to:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; ***Elected***<br> ***percentage***<br>| ***X*** | &nbsp;&nbsp;&nbsp; ***Eligible***<br> ***proceeds***<br>| ***X*** | ***Interest factor*** | &nbsp;&nbsp;&nbsp; ***Administrative***<br> ***fee (up to $150)***<br>| &nbsp;&nbsp;&nbsp; ***Elected percentage of***<br> ***an unpaid policy loan***<br>|

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Minimum accelerated benefit amount: $25,000.

Maximum accelerated benefit amount: $250,000 (total for all of your NYLIAC and affiliated companies' policies).

If you accelerate less than 100% of the eligible proceeds, the remaining Face Amount of your policy after we pay this benefit must be at least $50,000. We do not permit any subsequent acceleration.

When we make a payment under this rider, we will reduce your policy's Face Amount, applicable rider death benefits, monthly deductions, Cash Value, and any unpaid policy loan based on the percentage you elected. We will deduct an administrative fee of $150 at the time you exercise the rider.

Amounts received under this rider generally will be excludable from your gross income under IRC Section 101 (g). The exclusion from gross income will not apply, however, if you are not the insured and if you do not have an insurable interest in the life of the insured either because the insured is your director, officer, or employee, or because the insured has a financial interest in a business of yours.

In some cases, there may be a question as to whether a life insurance policy that has an accelerated living benefit rider can meet certain technical aspects of the definition of a "life insurance contract" under the IRC. We reserve the right (but we are not obligated) to modify the rider to conform to any requirements the IRS may enact.

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*Example:* The following illustrates the benefit available under the Living Benefits Rider, assuming: (1) an Elected Accelerated Benefit of 100% and 50%, respectively; (2) Eligible Proceeds and Face Amount of $250,000; (3) an Interest Factor of 0.9434; (4) an Administrative Fee of $150; and an (5) Outstanding Loan of $5,000:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Elected** <br> **Percentage**<br>| **Eligible Proceeds** | **Interest Factor** | **Administrative** <br> **Fee**<br>| **Elected** <br> **Percentage x** <br> **Outstanding** <br> **Loan**<br>| **Total Accelerated** <br> **Benefit Available**<br> ((1)x(2)x(3)) - (4) - <br> ((1)x(5))<br>|
| 100% | $250000 | 0.9434 | $150 | $5000 | $230700 |
| 50% | $250000 | 0.9434 | $150 | $2500 | $115275 |

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&nbsp;&nbsp;&nbsp;&nbsp;● Spouse's Paid-Up Insurance Purchase Option Rider: This rider allows a spouse who is the beneficiary under the policy to purchase a new paid-up whole life insurance policy on his or her own life without evidence of insurability when the insured dies.

The maximum Face Amount of the spouse's new paid-up whole life policy is the lesser of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the maximum amount of the Life Insurance Benefit Proceeds payable under this policy (before any unpaid loan is deducted); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) $5,000,000.

If the insured's spouse dies at the same time as the insured or within 30 days after the insured's death and does not exercise the option under this rider, we will pay a benefit to the spouse's estate equal to the maximum amount of insurance coverage that could have been purchased under this rider, minus the premium payment that would have been required for that insurance (cannot exceed a maximum of $2,500,000).

If a third party (including a trust) is the policyowner and beneficiary under the policy, that third party can also exercise the option and purchase a paid-up whole life policy on the life of the spouse. The policyowner must have an insurable interest in the life of the spouse and the spouse must consent to the issuance of the new insurance in writing.

*Example:* The following illustrates the benefit available under the Spouse's Paid-Up Insurance Purchase Option Rider, assuming Policy Proceeds and Face Amount of $1,000,000 and a request by a Representative Spouse (Male, Age 70, Standard rating) for a new paid-up whole life insurance policy of $100,000 and $500,000 with a Net Single Premium per thousand (NSP) of $772.86:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Policy Proceeds** | **Requested** <br> **Paid-Up** <br> **Insurance Benefit**<br>| **NSP for Paid-Up** <br> **Insurance**<br>| **Policy Premium** <br> **for Paid-Up** <br> **Insurance**<br>| **Net Policy** <br> **Proceeds**<br>|
| $1000000 | $100000 | $772.86 | $77286 | $1,000,000 - <br> $77,286 = <br> $922,714<br>|
| $1000000 | $500000 | $772.86 | $386430 | $1,000,000 - <br> $386,430 = <br> $613,570<br>|

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&nbsp;&nbsp;&nbsp;&nbsp;● Insurance Exchange Rider: This rider allows you to exchange the policy for a new NYLIAC variable universal life policy issued on a new insured using the cash values from your original policy. This rider is included in the policy at no additional cost. This rider may only be exercised once under the Policy. To exercise this rider, you must send a completed Insurance Exchange Rider form in Good Order to the VPSC at one of the addresses listed on the first page of this prospectus (or any other address we indicate to you in writing).

When an exchange is made to a new policy the Cash Value of your policy will be transferred to the new policy and become the Cash Value for the new policy. However, the Cash Surrender Value under the new policy may be different since surrender charges will be based on the new insured's age and gender. The maximum Face

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Amount of the new policy is the lesser of the Face Amount of the original policy on the Policy Date or the Face Amount of the original policy on the date of the exchange.

Before we can issue the new policy, you must provide us with evidence of insurability on the new insured (which may require full medical underwriting) and have an insurable interest in the new insured. The Policy Date and the Issue Date of the new policy will be the date on which the policy is exchanged. The new cost of insurance rates, premium payments and charges will be based on the new insured's age, gender, and class of risk at the time the exchange occurs. However, surrender charges on the new policy will be measured from the Policy Date of the original policy.

Under certain circumstances, you may be required to make a conditional premium payment into the new policy to exercise the exchange rider:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) If the Cash Surrender Value of the new policy will exceed the Cash Surrender Value of the original policy, then a payment equal to 103% of the difference between these two values will be required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) If the Cash Surrender Value of the new policy after the exchange would be zero or less than zero, then a payment in an amount sufficient to keep the new policy in effect for two months following the date of exchange will be required. This payments will be treated as a premium payment into the new policy and will be subject to the charges and conditions applicable to premiums in the new policy. If the conditions specified above are not present at the time the rider is exercised the conditional premium payment will not be required.

The IRS has ruled that an exchange of policies pursuant to this type of rider does not qualify as a tax-deferred exchange under IRC Section 1035. Accordingly, the exercise of your rights under this rider will result in a taxable event. You will be required to include in gross income an amount equal to the gain in the policy. The exercise of your rights under this rider also may result in the new policy's classification as a modified endowment contract, as discussed in the prospectus. You should consult your tax adviser about the potential adverse tax consequences of exercising your rights under this rider.

*Example:* If an original policy, purchased on a Representative Insured (Male, 40, Premier issue) with a Cash Value of $157,431.84 and Face Amount of $250,000, is exchanged at Policy Year 11 (outside the Surrender Charge Period) for a Policy with the same Cash Value and Face Amount on an Insured (Female 50, Quality), the exchange would result in a decrease in Monthly Deduction Charges. As with the original policy, the policy resulting from the exchange would not be subject to surrender charges.

&nbsp;&nbsp;&nbsp;&nbsp;● Overloan Protection Rider: Subject to state availability, your policy will include the Overloan Protection Rider. When activated, the Overloan Protection Rider guarantees that your policy will not lapse even if: (1) the policy's Cash Surrender Value is insufficient to cover the current Monthly Deduction Charges or (2) the policy's outstanding loans plus accrued loan interest exceed its Cash Value. To activate the Overloan Protection Rider you must provide us with a Request. A one-time charge will be deducted from the policy's Cash Value on the activation date. There is no charge if the Rider is never activated. In addition, the following conditions must be met upon receipt of your Request:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The policy must be in effect for at least 15 years.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The insured must be at least age 75.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Any outstanding loan plus accrued loan interest exceeds the Face Amount of the policy in effect at the time of activation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Any outstanding loan plus accrued loan interest must be less than 99% of the policy Cash Value after the deduction of any surrender charges and the one-time rider charge.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Activation of the rider cannot cause the policy to violate IRC Section 7702 at any duration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Cumulative partial surrenders taken must be no less than the total premiums paid under the policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The policy is not a modified endowment contract (MEC) and would not become a MEC upon activation of the rider. (For a discussion of these rules, see "Federal Income Tax Considerations—Modified Endowment Contract Status").

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● For purposes of this rider, the Life Insurance Benefit under the Policy is referred to as Life Insurance Benefit Option 1.

Once the policy meets the conditions outlined above, we will mail a notice to you at your last known address to notify you that the Overloan Protection Rider can be activated. The Overloan Protection Rider will be effective on the Monthly Deduction Day following the day we receive your Request to activate, provided that the policy still meets the conditions for rider activation. Once in effect, the Overloan Protection Rider will prevent your policy from ending. The following changes to your policy will take effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The Face Amount of the policy will be changed to 101% of the policy's Cash Value (the "OLP Face Amount").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The policy's Life Insurance Proceeds will be the greater of: A or (B x C) where:

A =The OLP Face Amount calculated at rider activation;

B =the greater of: (i) the policy's Cash Value, or (ii) any outstanding loans plus accrued loan interest; and

C = the greater of 101% or the minimum percentage necessary for the policy to qualify as life insurance under IRC Section 7702.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Any Cash Value under the policy that is not invested in the Fixed Account will be transferred to the Fixed Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Any riders, except the Overloan Protection Rider and the Spouse's Paid-Up Insurance Purchase Option Rider, will end.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● No further policy changes, premium payments, transfers, partial surrenders, or full surrenders will be allowed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● No additional loans (except those resulting from unpaid loan interest) or loan repayments will be permitted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Loan interest will continue to accrue. If not paid when due, the interest will become part of any outstanding loan and will also accrue interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● No further Monthly Deduction Charges will be taken.

This policy may be purchased with the intention of accumulating cash value on a tax-free basis over some period (such as retirement) and relying on the Overloan Protection Rider to periodically borrow from the Policy without allowing the Policy to lapse. Anyone contemplating the purchase of the Policy with the intention of pursuing this strategy or otherwise exercising the "overloan protection" provided under the Overloan Protection Rider should be aware that, among other risks, it has not been ruled on by the IRS or the courts and it may be subject to challenge by the IRS, since it is possible that the loans will be treated as taxable distributions when the Overloan Protection Rider is activated. For this reason, you should consider very carefully, after consultation with your tax advisor, whether to exercise the Overloan Protection Rider.

*Example*:For a Policy with the following policy values at Attained Age 90:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Face Amount (FA)** | **Life** <br> **Insurance**<br> **Benefit** <br>| **Separate** <br> **Account** <br> **Value** <br> **(SAV)**<br>| **Fixed** <br> **Account** <br> **Value** <br> **(FAV)**<br>| **Cash** <br> **Value** <br> **(CV)** <br> **(SAV +** <br> **FAV)**<br>| **Outstanding** <br> **Loans (plus** <br> **Accrued** <br> **Loan** <br> **Interest)** <br> **(L)**<br>| **Cash** <br> **Surrender** <br> **Value (CV -** <br> **L)\***<br>|
| **$1000000** | $1378000 | $1200000 | $100000 | $1300000 | $1000500 | $299500 |

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The activation of the rider will result in: (1) the assessment of a one-time Overloan Protection Rider Fee of $45,500 (3.5% of the Cash Value of $1,300,000)—a fee that will vary based on Attained Age and deducted from the Cash Value and (2) the following changes to the policy:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Face Amount**  | **Life** <br> **Insurance** <br> **Benefit** <br>| **Separate** <br> **Account** <br> **Value** <br> **(SAV)**<br>| **Fixed** <br> **Account** <br> **Value** <br> **(FAV)**<br>| **Cash** <br> **Value** <br> **(CV)** <br> **(SAV +** <br> **FAV)**<br>| **Outstanding** <br> **Loans (plus** <br> **Accrued** <br> **Loan** <br> **Interest) (L)**<br>| **Cash** <br> **Surrender** <br> **Value (CV -** <br> **L)\***<br>|
| **$1267045** | $1329770 | $0 | $1254500 | $1254500 | $1000500 | $254000 |

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The activation of the rider increases the Face Amount by making it 101% of the Cash Value –calculated as the greater of the Face Amount ($1,267,045) or the policy's Cash Value, multiplied by the minimum percentage necessary for the policy to qualify as life insurance under IRC Section 7702 ($1,254,500 x 1.06) or $1,329,770.

\*No surrender charges apply.

***Age 121 Policy Anniversary***

Beginning on the policy anniversary on which the insured is age 121, the Life Insurance Benefit will remain in force for all subsequent years, but the following limitations will apply:

&nbsp;&nbsp;&nbsp;&nbsp;(a) No further Planned or Unplanned Premiums will be allowed, except as needed to keep your policy from lapsing.

&nbsp;&nbsp;&nbsp;&nbsp;(b) No Face Amount decreases will be permitted.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Other than the Mortality and Expense Risk Charge, no further monthly deductions will be made from your Cash Value.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Your Cash Value will continue to be invested in the Investment Options chosen by the policyowner.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Transfers among the Investment Options will continue to be allowed.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Partial surrenders and loan repayments will continue to be allowed.

&nbsp;&nbsp;&nbsp;&nbsp;(g) New policy loans may be requested and loan interest will continue to accrue on any new and existing loans at the current Loan Interest Rate. However, if the amount of any unpaid loans (including any accrued loan interest) is greater than the Cash Value of your policy minus surrender charges, your policy could lapse.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Any other riders attached to your policy will end, unless stated otherwise in the rider.

Please consult your tax advisor regarding the tax implications of these options.

If your policy is still in effect when the insured dies, we will pay the Life Insurance Proceeds to the beneficiary.

***Tax-Free "Section 1035" Insurance Policy Exchanges***

Generally, you can exchange one life insurance policy for another in a "tax-free exchange" under IRC Section 1035. Before making an exchange, you should compare both policies carefully. Remember that if you exchange another policy for the one described in this prospectus, you might have to pay a surrender charge on your old policy. Also, some charges may be higher (or lower), and the benefits may be different. If the exchange does not qualify for IRC Section 1035 treatment, you may have to pay federal income and penalty taxes on the exchange. You should not exchange another policy for this one unless you determine, after knowing all of the facts, that the exchange is in your best interest. New York Life may accept standard electronic instructions from another insurance carrier for the purposes of effecting an IRC Section 1035 exchange.

Because the final surrender value of your existing policy will be calculated once the new life insurance policy has been approved for issuance, this final surrender value may be impacted by increases or decreases in policy values that result from market fluctuations during the period between submission of the exchange request and actual processing. The final surrender value may be calculated several Business Days after we receive your exchange

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Request. Please consult your current insurer for options to potentially mitigate market exposure during this period. In addition, as we will not issue the new policy until we have received an Initial Premium from your existing insurance company, the issuance of the policy in an exchange could be delayed. The ACSV is not available for IRC Section 1035 exchanges to another life insurance policy. If you chose to exchange another life insurance policy for this one in a "tax-free exchange" under IRC Section 1035, funds resulting from the exchange will not count toward the Initial Premium required under this policy.

***24-Month Exchange Privilege***

Within the first 24 months after the Issue Date of your policy, if you decide that you do not want to own a variable policy, you may exchange it for a new policy on the life of the Insured without evidence of insurability and without a Surrender Charge deduction.

The new policy will be on a permanent plan of life insurance, which we were offering for this purpose on the Issue Date of this VUL Policy. The new policy will have a face amount equal to the initial Face Amount of this Policy. It will be based on the same Policy Date, Insured's class of risk, gender, and Issue Age as this Policy, but will not offer variable investment options such as the Investment Divisions. The new policy will have the same provisions and be subject to the same limitations as are in the series of permanent plan life insurance policies being issued by us on that date. All riders attached to this Policy will end on the date of exchange, unless we agree otherwise.

To exchange your policy:

&nbsp;&nbsp;&nbsp;&nbsp;● your policy must be in force on the date of the exchange;

&nbsp;&nbsp;&nbsp;&nbsp;● you must repay any unpaid loan (including any accrued loan interest); and

&nbsp;&nbsp;&nbsp;&nbsp;● you must submit a Request.

We will process your request for an exchange on the later of: (1) the Business Day on which we receive your Request along with your policy, or (2) the Business Day on which we receive the necessary loan payment for your exchange in Good Order at the VPSC at one of the addresses listed on the first page of this prospectus (or any other address we indicate to you in writing). The policy exchange will be effective on the later of these two dates. The amount applied to your new policy will be the policy's Cash Value plus a refund of all Cost of Insurance Charges, Administrative Charges, Premium Expense Charges and any rider charges taken as of the date of the exchange. We will not refund Mortality and Expense Risk Charges, or Contract Charges. Because policy values may increase or decrease due to market fluctuations during the period between submission of the exchange request and actual processing, the Cash Value applied to your new policy may be impacted. Please consult your registered representative for options to potentially mitigate market exposure during the time it will take to process the exchange. We will require you to make any adjustment to the premiums and Cash Value of your variable policy and the new policy, if necessary.

When you exchange your policy, all riders and benefits for that policy will end, unless otherwise required by law. Requests received after 4:00 pm (Eastern Time) on a Business Day, or on a non-Business Day, will be processed as of the next Business Day.

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**Loans**

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You can borrow any amount up to the loan value of the policy. The loan value at any time is equal to: ((100% - a) x b) - c, where:

a = the current loan interest rate;

b = the policy's Cash Surrender Value; and

c = the sum of three months of Monthly Deduction Charges.

Your policy will be used as collateral to secure this loan. Any amount that secures a loan remains part of your policy's Cash Value but is transferred to the Loan Account. We credit any amount that secures a loan (the loaned amount) with an interest rate that we expect to be different from the interest rate we credit on the Fixed Account and/or DCA Accounts. Loans may affect the No Lapse Guarantee.

If your address or bank account information has been on file with us for less than 30 days, we may require additional verification of your identity, in Good Order, before we will process a request to send loan proceeds electronically to that bank account or through the mail to that address.

***Your Policy As Collateral For A Loan***

When you request a loan, or when outstanding loan interest is added to and becomes part of a loan, a transfer of funds will be made from the Fixed Investment Options and/or the Separate Account to the Loan Account so that the Cash Value in the Loan Account is at least 100% of the requested loan plus any outstanding loan principal. Any such transfer(s) will be made in the following order unless you specify otherwise and we agree:

&nbsp;&nbsp;&nbsp;&nbsp;1. First, from the Fixed Account until the Cash Value in the Fixed Account is equal to zero.

&nbsp;&nbsp;&nbsp;&nbsp;2. Second, from the DCA Accounts (as applicable) until the Cash Value in all DCA Accounts is equal to zero. Cash Value will be taken from the applicable DCA Account on a first in-first out (FIFO) basis if multiple payments have been made to such DCA Account.

&nbsp;&nbsp;&nbsp;&nbsp;3. Third, if the Cash Value in the Fixed Investment Options is insufficient to cover the full amount of the loan, the remaining loan amount will be taken on a pro-rata basis from your Investment Divisions in the Separate Account.

Please note that loan requests must be received in Good Order and for requests above $50,000, we may require additional verification of the owner's identity in a manner acceptable to us, including without limitation, a notarized confirmation of the owner(s) signature or a medallion signature guarantee. If your address or bank account information has been on file with us for less than 30 days, we will either require the request in writing or require additional verification of your identity, in Good Order, before we will process a request to send loan proceeds electronically to that bank account or through the mail to that address. In addition, you must submit a Request for loans made from policies that are less than 90 days old or that had an ownership change within 30 days of such loan request must be made in writing, in Good Order and sent to the VPSC at one of the addresses listed on the first page of this prospectus (or any other address we indicate to you in writing). Faxed requests are not acceptable and will not be honored at any time. We do not currently accept faxed or e-mailed loan requests, however, we reserve the right to accept them at our discretion.

***Loan Interest***

We currently charge an effective annual loan interest rate of 3% in Policy Years 1-10, and 2% in Policy Years 11 and beyond. We may increase or decrease this rate but we guarantee that the rate will never exceed 6%. We will determine the loan interest rate at least once every twelve months, but not more frequently than once every three months. If we increase the rate, we will not increase it by more than 1% per calendar year.

***Interest Credited On The Cash Value Held As Collateral For A Policy Loan***

When you take a loan against your policy, the loaned amount that we hold in the Loan Account may earn interest at a different rate from the rate we charge you for loan interest. The rate on the Loan Account may also be different from

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the rate we credit on other amounts in the Fixed Account or amounts in the DCA Accounts. We guarantee that the interest rate we credit on the Loan Account will always be at least the Guaranteed Minimum Interest Rate credited to the Fixed Account for your policy. For the first ten Policy Years, we guarantee that the rate we credit on the Loan Account will never be lower than the rate we charge for policy loans minus 2% (for example, if the rate we charge for policy loans is 6%, then the rate we credit on the Loan Account will never be lower than 4%). Currently, for the first ten Policy Years, the rate we expect to credit on loaned amounts is 1% less than the rate we charge for loan interest. Beginning in Policy Year 11, we guarantee that the rate we credit on the Loan Account will never be lower than the rate we charge for policy loans minus 0.25% (for example, if the rate we charge for policy loans is 6%, then the rate we credit on the Loan Account will never be lower than 5.75%). Currently, beginning in Policy Year 11, the rate we expect to credit on loaned amounts is equal to the rate we charge for loan interest. The interest earned on the Loan Account accrues daily and is credited to the Fixed Account on each Monthly Deduction Day, where it will earn the crediting rate applicable to the Fixed Account going forward.

***When Loan Interest Is Due***

The interest we charge on a loan accrues daily and is payable on the following dates:

&nbsp;&nbsp;&nbsp;&nbsp;● the policy anniversary;

&nbsp;&nbsp;&nbsp;&nbsp;● the date you surrender the policy;

&nbsp;&nbsp;&nbsp;&nbsp;● the date you fully repay a loan;

&nbsp;&nbsp;&nbsp;&nbsp;● the date the policy lapses;

&nbsp;&nbsp;&nbsp;&nbsp;● the date on which the insured dies; or

&nbsp;&nbsp;&nbsp;&nbsp;● any other date we specify.

Any loan interest that you do not pay when due will become part of the policy loan and will also accrue interest. You should be aware that the larger the loan becomes relative to the Cash Value, the greater the risk that the remaining Cash Surrender Value may not be sufficient to support the policy charges and expenses, including any loan interest due, and the greater the risk of the policy lapsing.

***Loan Repayment***

You can repay all or part of a policy loan at any time while your policy is in effect. We will consider any payment we receive from you while you have a loan outstanding to be a premium payment unless you tell us in writing that it is a loan repayment. When a loan repayment is received, we will first use the money to cancel all or part of any outstanding loan which was originally taken from the Fixed Account. Any remaining portion of the loan payment will be allocated to the Investment Divisions in the same proportion as the amount of money you have in each Investment Division on the date of the loan repayment, unless you indicate otherwise and we agree. If there is no money allocated to the Investment Divisions on the date of your loan repayment, the entire remaining loan repayment amount will be allocated to the Fixed Account. Repayments of loans from the DCA Accounts will be allocated to the Fixed Account. Loan payments must be sent to NYLIAC at one of the addresses listed on the first page of this prospectus (or any other address we indicate to you in writing).

***Excess Loan Condition***

If the amount of any unpaid loans (including any accrued loan interest) is greater than the Cash Value of your policy minus surrender charges, we will mail a notice to you at your last known address. We will also send a copy of the notice to the last known assignee, if any, on our records. If you do not pay the necessary amount within 31 days after the day we mail you this notice, we will terminate your policy. This could result in a taxable gain to you.

***The Effect Of A Policy Loan***

A loan, repaid or not, has a permanent effect on your Cash Value and ACSV, if applicable. This effect occurs because amounts borrowed are removed from your Investment Divisions (which receive investment performance) and placed into the Loan Account (which earns interest at a fixed rate). Investment results will apply only to the amounts remaining in your Investment Divisions. The longer a loan is outstanding, the greater the effect on your Cash Value.

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The effect could be favorable or unfavorable. If the Investment Divisions earn more than the annual interest rate credited to the Loan Account, your Cash Value will not increase as rapidly as it would have had no loan been made. If the Investment Divisions earn less than the interest credited to the Loan Account, then your Cash Value may be greater than it would have been had no loan been made. If not repaid, the aggregate amount of the outstanding loan principal and any accrued loan interest will reduce the Life Insurance Proceeds that might otherwise be payable.

In addition, unpaid capitalized loan interest generally will be treated as a new loan under the IRC. If the policy is a modified endowment contract, a loan may result in taxable income and penalty taxes to you. In addition, for all policies, if the loans taken, including unpaid loan interest, exceed the premiums paid, policy surrender or policy lapse will result in a taxable gain to you. Finally, it is possible that a loan could be treated as a taxable distribution if there is no spread or a very small spread between the interest rate charged on the loan and the interest rate credited to the Loan Account. (See "Federal Tax Considerations" for more information.) Loans may affect the No Lapse Guarantee.

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**Premiums**

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Premium payments are classified as planned or unplanned premiums. Other than the Initial Premium, which must be a minimum of $10,000.00 paid in the first Policy Year, there are no required premium payments. However, you may need to make additional premium payments to keep your policy from lapsing.

The currently available methods of payments are: direct payment to NYLIAC, pre-authorized one-time or monthly deductions from your bank, credit union or similar accounts or any other method agreed to by us. You may also fund up to 14 years of annual Planned Premiums or 179 monthly Planned Premiums through a Premium Deposit Account ("PDA") with a valid PDA agreement and/or PDA Rider as applicable. (See "Descriptions of the Policy—Additional Benefits Through Riders and Options—Premium Deposit Account" for more information).

**Acceptance of initial and subsequent premium payments is subject to our Sales Standards.**

***Planned Premium***

When you apply for your policy, you select a premium payment schedule, which indicates the amount and frequency of premium payments you intend to make. The premium amount you select for this schedule is called your "planned premium." It is shown on the Policy Specifications Page. Factors that should be considered in determining your premium payment are: age, class of risk, gender, policy Face Amount, Investment Division performance, loans, and any riders you add to your policy.

You can make additional planned premium payments at any time up to the insured's attainment of age 121 (except as permitted in "Age 121 Policy Anniversary"). However, if payment of a planned premium will cause the Life Insurance Benefit of your policy to increase more than the Cash Value will increase, we may require proof of insurability before accepting that payment and applying it to your policy. We will require one or more additional premium payments in the circumstance where the Cash Surrender Value of your policy is determined to be insufficient to pay the charges needed to keep your policy in effect. Should the additional payment(s) not be made, your policy will lapse.

***Unplanned Premium***

An unplanned premium is a payment you make that is not part of the premium schedule you choose.

&nbsp;&nbsp;&nbsp;&nbsp;● While the insured is living, you may make unplanned premium payments at any time before the policy anniversary on which the insured is age 121 (except as permitted in "Age 121 Policy Anniversary"). However, if payment of an unplanned premium will cause the Life Insurance Benefit of your policy to increase more than the Cash Value will increase, we may require proof of insurability before accepting that payment and applying it to your policy. The Life Insurance Benefit increase may occur for your policy to continue to qualify as life insurance under IRC Section 7702.

&nbsp;&nbsp;&nbsp;&nbsp;● If you exchange one policy for another under IRC Section 1035, we will treat the proceeds of that exchange as an unplanned premium.

&nbsp;&nbsp;&nbsp;&nbsp;● The minimum unplanned premium amount we allow is $50.

&nbsp;&nbsp;&nbsp;&nbsp;● We may limit the number and amount of any unplanned premium payments.

Unplanned premiums must be sent to NYLIAC at one of the addresses listed on the first page of this prospectus (or any other address we indicate to you in writing). **Acceptance of initial and subsequent premium payments is subject to our Sales Standards.**

***Risk Of Minimally Funded Policies***

You can make additional planned or unplanned premium payments at any time up to the insured's attainment of age 121 (except as permitted in "Age 121 Policy Anniversary"). We will require one or more additional premium payments in the circumstance where the Cash Surrender Value of your policy is determined to be insufficient to pay the charges needed to keep your policy in effect and the NLG is not in effect. Should the additional payment(s) not be made, your policy will lapse.

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Although premium payments are flexible, you may need to make subsequent premium payments so that the Cash Surrender Value of your policy is sufficient to pay the charges needed to keep your policy in effect. A policy that is maintained with a Cash Surrender Value just sufficient to cover deductions and charges, or that is otherwise minimally funded, is more likely to be unable to maintain its Cash Surrender Value because of market fluctuation and performance-related risks. When initially determining the amount of your planned premium payments, you should consider funding your policy at a level that has the potential to maximize the investment opportunities within your policy and to minimize the risks associated with market fluctuations. (Your policy can lapse even if you pay all of the planned premiums on time.)

***Timing And Valuation***

Your premium will be credited to your policy on the Business Day that it is received, assuming it is received prior to the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. Any premiums received after that time will be credited to your policy on the next Business Day.

The Fund assets making up the Investment Divisions will be valued only on those days that the NYSE is open for trading. Generally, the NYSE is closed on Saturdays, Sundays and major U.S. holidays.

***Free Look***

You have the right to cancel your policy, within certain limits. Under the Free Look provision of your policy, in most jurisdictions, you have 20 days after you receive your policy to return it and receive a refund. (See "State Variations and Rider Availability" for state-by-state details.) To receive a refund, you must return the policy and/or provide a Request for cancellation or to the registered representative from whom you purchased the policy within 20 days of receiving the policy. If you cancel your policy, we will generally pay you your policy's Cash Value, plus any Premium Expense Charges and Monthly Deduction Charges, minus loans and accrued loan interest calculated as of the Business Day that the VPSC or the registered representative through whom you purchased it receives the policy and/or your Request for cancellation. See the "State Variations and Rider Availability" section for state specific variations applicable to your policy.

***Premium Payments***

Premium payments should be mailed to: NYLIAC, 75 Remittance Drive, Suite 3021, Chicago, IL 60675-3021 or by express mail to NYLIAC, 5450 N. Cumberland Avenue, Suite 100, Chicago, IL 60656. **Acceptance of initial and subsequent premium payments (whether planned or unplanned) are subject to our Sales Standards.**

The currently available methods of payment are: direct payment to NYLIAC, pre-authorized one-time or monthly deductions from your bank, credit union or similar accounts and any other method agreed to by us.

We apply the Net Premium to the Investment Divisions, the Fixed Account and/or DCA Accounts, according to your instructions.

The payment of the Initial Premium (and any other planned or unplanned premium made before the Initial Premium Transfer Date) will be applied to the General Account. On the Initial Premium Transfer Date, we allocate the Net Premium, along with any interest credited, to the Investment Divisions of the Separate Account, the Fixed Account, and/or the DCA Plus Account according to the most recent premium allocation election you have given us. You can change the premium allocation any time you make a subsequent premium payment by submitting a revised premium allocation form in Good Order to one of the addresses listed for payment of subsequent premiums on the first page of this prospectus (or any other address we indicate to you in writing). Your revised premium allocation selection will be effective as of the Business Day the revised premium allocation is received by the VPSC at one of the addresses listed on the first page of this prospectus (or any other address we indicate to you in writing). Premium allocation selections received after market close will be effective the next Business Day. The allocation percentages must be in whole numbers.

***Automatic Premium Payment Arrangement***

An automatic premium payment arrangement is a service that allows you to authorize monthly electronic deductions from your checking account to make premium payments. You can select any day of the month to initiate drafts except the 29th, 30th and 31st. If a draft date is not selected, it will be the Policy Date. A voided blank check

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must be forwarded along with an application to begin an automatic premium payment arrangement. To set up an automatic premium payment arrangement, you must submit a Request or submit a request though any other method we make available to you..

***Premium Payments Returned For Insufficient Funds***

If your premium payment is returned by the bank for insufficient funds, we will reverse the Investment Options you have chosen and reserve the right to charge you a $20 fee for each returned payment. In addition, if we incur any losses as a result of a returned payment, we will deduct the amount of the loss from your policy's Cash Value. If an automatic premium payment withdrawal is returned for insufficient funds for two consecutive months, this premium payment arrangement will be suspended until you provide written notification in Good Order to the VPSC at one of the addresses listed on the first page of this prospectus (or any other address we indicate to you in writing), or by phone on our toll-free number (1-800-598-2019), that you wish to resume the arrangement and we agree to do so.

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**Policy Payment Information**

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***When Life Insurance Coverage Begins***

If you have coverage under a conditional temporary agreement and if the policy is issued, the policy will replace the temporary coverage. Your coverage under the policy will be deemed to have begun on the Policy Date.

In all other cases, if the policy is issued, coverage under the policy will take effect when we receive the full Initial Premium payment in Good Order that you are required to make when the policy is delivered to you. You can call 1-800-598-2019 to determine if we have received your premium payment.

The monthly deduction of charges will begin on the first Monthly Deduction Day, which will be the monthly anniversary of the Policy Date on or following the later of the Issue Date or the date we receive the full Initial Premium payment in Good Order. If the Policy Date is prior to the later of the Issue Date or the date we receive the full Initial Premium payment, the deductions made on the first Monthly Deduction Day will cover the period from the Policy Date until the first Monthly Deduction Day.

***Changing The Face Amount Of Your Policy***

Under certain circumstances, you may decrease the Face Amount of your Policy subject to the minimum Face Amount limitations shown in the Additional Policy Information section of your Policy Specifications Pages. If you decrease the Face Amount, you may be subject to increased Cost of Insurance Rates which in no event will be higher than the Maximum Cost of Insurance Rates in your Policy Specifications Pages. The Face Amount of your policy affects the Life Insurance Benefit to be paid.

To decrease the Face Amount of your policy, you must send a Request. You should consider the following possible consequences when decreasing the Face Amount of your policy:

&nbsp;&nbsp;&nbsp;&nbsp;● a change in the total policy cost of insurance charge;

&nbsp;&nbsp;&nbsp;&nbsp;● a surrender charge applicable to the amount of the decreased Face Amount; and

&nbsp;&nbsp;&nbsp;&nbsp;● adverse tax consequences.

For more information about changing the Face Amount of your policy, see the SAI.

***Life Insurance Proceeds***

We will pay proceeds to your beneficiary when we receive satisfactory proof that the insured died. These proceeds will equal:

1)

the Life Insurance Benefit , valued as of the date of death; plus

2)

any additional death benefits available under the riders you have chosen which have not already been reflected in the Life Insurance Benefit; minus

3)

any outstanding loans (including any accrued loan interest as of the date of death) on the policy and any unpaid or deferred Monthly Deduction Charges.

We will pay interest on these proceeds from the date the insured died until the date we pay the proceeds. See "Policy Payment Information—Life Insurance Benefit " for more information.

Every state has unclaimed property laws, which generally declare a life insurance policy to be abandoned after a period of inactivity of three to five years from the contract's maturity date or the date the life insurance benefit is due and payable. For example, if the payment of a life insurance benefit has been triggered, but, if after a thorough search, we are unable to locate the beneficiary of the life insurance benefit, or the beneficiary does not come forward to claim the life insurance benefit in a timely manner, the life insurance benefit may be paid to the abandoned property division or unclaimed property office of the state in which the beneficiary or the insured last resided, as shown on our books and records, or to our state of domicile. This escheatment is revocable, however, and the state is obligated to pay the life insurance benefit (without interest) if your beneficiary steps forward to claim it with the proper

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documentation. To prevent such escheatment, it is important that you update your Beneficiary designation, including addresses, if and as they change. Please contact us at 1-800-598-2019 or send a Request to make such changes.

***Payees***

The beneficiary is the person(s) or entity(ies) you have specified on our records to receive the Life Insurance Proceeds from your policy. You have certain options regarding the policy's beneficiary:

&nbsp;&nbsp;&nbsp;&nbsp;● You name the beneficiary when you apply for the policy. The beneficiary will receive the Life Insurance Proceeds after the insured dies.

&nbsp;&nbsp;&nbsp;&nbsp;● You can elect to have different classes of beneficiaries, such as primary and secondary, where these classes determine the order of payment. You may identify more than one beneficiary per class.

&nbsp;&nbsp;&nbsp;&nbsp;● To change a revocable beneficiary while an insured is living, you must either send a Request, or contact us online at www.newyorklife.com or through the mobile application.

&nbsp;&nbsp;&nbsp;&nbsp;● If no beneficiary is living when the insured dies, we will pay the Life Insurance Benefit Proceeds to you (the policyowner), or if you are deceased, to your estate, unless we have other instructions from you to do otherwise.

You can name only those individuals who are able to receive payments on their own behalf as payees or successor payees, unless we agree otherwise. We may require proof of the age of the payee or proof that the payee is living. If we still have an unpaid amount, or there are some payments that still must be made when the last surviving payee dies, we will pay the unpaid amount with interest to the date of payment, or pay the present value of the remaining payments, to that payee's estate. We will make this payment in one sum. The present value of the remaining payments is based on the interest rate used to compute them, and is always less than their sum.

***How Life Insurance Proceeds Will Be Paid***

The Life Insurance Proceeds will be paid in a lump sum. After the death of the insured, we will pay the beneficiary a single check for the amount of the Life Insurance Proceeds. Any Life Insurance Proceeds paid in one sum will include interest compounded each year from the date of the insured's death to the date of payment. We set the interest rate each year. This rate will be at least the rate required by law.

***When We Pay Life Insurance Proceeds***

If the policy is still in effect, NYLIAC will pay any Cash Surrender Value or ACSV, partial surrenders, loan proceeds, or the Life Insurance Proceeds generally within seven days after we receive all of the necessary requirements in Good Order at the VPSC at one of the addresses listed on the first page of this prospectus (or any other address we indicate to you in writing).

Under the following situations, payment of proceeds may be delayed:

&nbsp;&nbsp;&nbsp;&nbsp;● We may delay payment of any loan proceeds attributable to the Separate Account, any partial surrenders from the Separate Account, the policy's Cash Surrender Value or the ACSV, if applicable, or the Life Insurance Proceeds during any period that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) we are unable to determine the amount to be paid because the NYSE is closed (other than customary weekend and holiday closings), trading is restricted by the SEC, an emergency exists, or an Eligible Portfolio suspends redemptions pursuant to SEC Rules 2a-7 or 22e-3 under the 1940 Act or otherwise; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the SEC, by order, permits us to delay payment to protect our policyowners.

&nbsp;&nbsp;&nbsp;&nbsp;● We may delay payment of any portion of any loan or surrender request, including requests for partial surrenders, from the Fixed Account and/or the DCA Accounts for up to six months from the date we receive your request.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;● We may delay payment of the entire Life Insurance Proceeds if we contest the payment. We investigate all death claims that occur within the two-year contestable period. Upon receiving information from a completed investigation, we will make a determination, within thirty-one (31) days, as to whether the claim should be authorized for payment. Payments are made promptly after the authorization.

&nbsp;&nbsp;&nbsp;&nbsp;● Federal laws made to combat terrorism and prevent money laundering by criminals might, in certain circumstances, require us to reject a premium payment and/or "freeze" a policy. If these laws apply in a particular policy(ies), we would not be allowed to pay any request for transfers, partial surrenders, surrenders, loans, or death benefits. If a policy or an account is frozen, the Cash Value would be moved to a special segregated interest-bearing account and held in that account until instructions are received from the appropriate federal regulator.

&nbsp;&nbsp;&nbsp;&nbsp;● If you have submitted a recent check or draft, we have the right to defer payment of any surrenders, loans, death benefit proceeds, or amounts due pursuant to the free look provision until such check or draft has been honored. It may take up to 15 days for a check to clear through the banking system.

We add interest at an annual rate at least equal to the minimum amount required by law if we delay payment of a partial surrender or Cash Surrender Value or ACSV for 30 days or more.

We add interest to Life Insurance Benefit Proceeds from the date of death to the date of payment at a rate at least equal to the minimum amount required by law.

*Life Insurance Benefit*

The Life Insurance Benefit of the Policy is equal to the greater of:

The initial Face Amount of the Policy, minus any changes to the Face Amount in accordance with the provisions of this Policy; or

A percentage of the sum of your Cash Value or, if available, the value of the ACSV, that is equal to the minimum amount necessary for your Policy to qualify as life insurance under IRC Section 7702 (the "Corridor Death Benefit"), as shown on your Policy Specifications Pages.

We determine the Life Insurance Benefit as of the date of the insured's death. Your Life Insurance Benefit may be greater if the policy's Cash Value, multiplied by the Corridor Death Benefit, as described below, is greater than the Face Amount.

Under IRC Section 7702, a policy will generally be treated as life insurance for federal tax purposes if, at all times, it meets either the GPT or the CVAT. This Policy is only available with CVAT.

The CVAT does not have a premium limit on the amount of premium that can be paid into a policy, but does have a corridor component that requires that the Life Insurance Benefit be at least a certain percentage (varying based on age, gender, and class of risk of the insured) of the Cash Value.

Tax law provisions relating to "employer-owned life insurance contracts" may impact whether and to what extent the Life Insurance Benefit may be received on a tax-free basis. You may be required to take certain actions before acquiring the Policy to ensure that such Benefit may be received on a tax-free basis. See the discussion under "Federal Income Tax Considerations—IRC Section 101(j)—Impact on Employer-Owned Policies" for more information.

**Additional Policy Provisions**

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***Limits On Our Rights To Challenge Your Policy***

Generally, we must bring any legal action contesting the validity of your policy within two years of the Issue Date. If this policy ends and is reinstated, we will not contest the policy after it has been in effect during the lifetime of the insured for two years from the date of reinstatement.

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***Suicide***

If the death of the insured is a result of suicide within two years of the Issue Date, we will pay a limited life insurance benefit in one sum to the beneficiary. The limited life insurance benefit is the total amount of premiums, minus any outstanding loans (including accrued loan interest) and/or partial surrender benefits paid.

***Misstatement Of Age Or Gender***

If the policy application misstates the insured's age or gender, we will adjust the Cash Value, the Cash Surrender Value and the ACSV, if applicable, and the Life Insurance Benefit to reflect the correct age and gender. We will adjust the Life Insurance Proceeds provided by your policy based on the most recent mortality charge for the correct date of birth and gender.

***Assignment***

While an insured is living, you can assign a policy as collateral for a loan or other obligation. In order for this assignment to be binding on us, we must receive a signed copy of such assignment in Good Order at the VPSC at one of the addresses listed on the first page of this prospectus (or any other address we indicate to you in writing). We are not responsible for the validity of any assignment. If your policy is a modified endowment contract, assigning your policy may result in taxable income to you. (See "Federal Income Tax Considerations" for more information.)

**Surrenders**

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***Partial Surrenders***

You can request a partial surrender from your policy if: (1) the insured is living, (2) the partial surrender being requested is at least $100, and (3) the partial surrender will not cause the policy to fail to qualify as life insurance under IRC Section 7702.

*Amount Available For A Partial Surrender*

You may request a partial surrender from the policy for an amount up to the Cash Surrender Value of your policy. We process a partial surrender at the price next determined after we receive your Request. We will not allow a partial surrender if it would reduce the policy's Face Amount below the minimum Face Amount requirement of $50,000. See "Surrenders—Partial Surrenders—The Effect of a Partial Surrender" for more information on how a partial surrender can reduce your Face Amount, as applicable.

*Requesting A Partial Surrender*

You can request a partial surrender from your policy by sending a Request, by calling 1-800-598-2019, or utilizing any other method we make available. Please note that partial surrender requests must be received in Good Order and for requests above $50,000, we may require additional verification of the owner's identity in a manner acceptable to us, including without limitation, a notarized confirmation of the owner(s) signature or a medallion signature guarantee. If your address or bank account information has been on file with us for less than 30 days, we will either require a Request or require additional verification of your identity, in Good Order, before we will process a request to send partial surrender proceeds electronically to that bank account or through the mail to that address. In addition, we will require a Request for partial surrenders from policies that are less than 90 days old or that had an ownership change within 30 days of such partial surrender request. We do not currently accept faxed or e-mailed requests for a partial surrender; however we reserve the right to accept them at our discretion.

We will pay any partial surrender generally within seven days after we receive all of the necessary documentation and information in Good Order. However, we may delay payment under certain circumstances. (See "Policy Payment Information—When We Pay Life Insurance Benefit Proceeds" for more information.)

Your requested partial surrender will be effective on the date we receive your written request in Good Order.

However, if the day we receive your request is not a Business Day or if your request is received after the closing of regular trading on the New York Stock Exchange, then the requested partial surrender will be effective on the next Business Day.

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When you make a partial surrender, we reserve the right to deduct a fee, not to exceed $25, for processing the partial surrender. You can specify how much of the partial surrender you want taken from the amount you have in each of the Investment Divisions and in the Fixed Investment Options. If you do not specify how you would like your partial surrender allocated, we will deduct the partial surrender and any partial surrender fee from the Investment Divisions and the Fixed Investment Options in proportion to the amounts you have in each of these Investment Options. We will not accept a partial surrender request that is greater than the amount in the Investment Divisions and/or the Fixed Investment Options you have chosen. A partial surrender may result in taxable income to you. (See "Federal Income Tax Considerations" for more information.)

*Surrender Charge Due To Partial Surrender*

A partial surrender may result in a decrease in your policy's Face Amount, which may cause a surrender charge to apply. This charge will equal the difference between (1) and (2), where (1) is the surrender charge calculated on the original Face Amount, and (2) is the surrender charge calculated on the newly decreased Face Amount.

*Periodic Partial Withdrawals*

After the tenth Policy Year, you may elect to receive regularly scheduled withdrawals from your policy. These periodic partial withdrawals (PPW) can be paid on a monthly, quarterly, semi-annual, or annual basis. You will elect the frequency of the withdrawals, and the day of the month for the withdrawals to be made (may not be the 29th, 30th, or 31st of a month). To process a PPW, we must receive a Request no later than five (5) Business Days prior to the date the withdrawals are to begin, or you can utilize any other method we make available. If your Request for this option is received less than five (5) Business Days prior to the date you request it to begin, the withdrawals will begin one month after the date you requested it to begin. We will make all withdrawals on the day of each calendar month you specify, or on the next Business Day (if the day you have specified is not a Business Day). The minimum amount of withdrawal is $100, or such lower amount as we may permit. We reserve the right to deduct the Partial Surrender Fee, not to exceed $25, when you elect the PPW option. You can specify which Investment Divisions and/or Fixed Account from which the PPWs will be made. If you do not specify, we will withdraw money on a pro rata basis from each Investment Division and/or the Fixed Account. If a PPW would cause the policy's Face Amount to be less than the minimum Face Amount, we will not process that PPW and the PPW arrangement will be suspended. If the policy's Cash Surrender Value falls below $2,000, or the Cash Surrender Value is unable to cover the policy's monthly charges, the PPW arrangement will also be suspended. If a PPW payment causes the policy's Face Amount to decrease, a surrender charge may apply. You may not request this option if your policy is a modified endowment contract or is at the minimum Face Amount. The PPW arrangement will automatically terminate when total withdrawals taken (including PPWs) equal the total premiums paid under the policy.

*The Effect Of A Partial Surrender*

When you make a partial surrender, we reduce your Cash Value, Cash Surrender Value and ACSV by the amount of the partial surrender, and any applicable partial surrender fee and surrender charge.

When you make a partial surrender, we will reduce your policy's Face Amount by the difference between:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the amount of the surrender; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Cash Value of the policy immediately prior to the surrender, minus the Face Amount divided by the applicable percentage for the insured's age at the time of the partial surrender, as shown on the Policy Specifications Page, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) zero.

If the above results in zero or a negative amount, we will not adjust the Face Amount of your policy.

Any decrease in the Face Amount caused by the partial surrender will be applied against the current Face Amount. Surrender charges may apply to Face Amount decreases. However, we will not apply a surrender change if you have elected the 24-Month Exchange Privilege. Partial Surrenders can affect the No Lapse Guarantee.

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The following example shows the effect of a partial surrender on the Life Insurance Benefit, as described above, issued on a Male Insured, Age 40:

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| | | | |
|:---|:---|:---|:---|
| **Immediately prior to** <br> **partial surrender** | Total Face Amount: | $1075000 | $1075000 |
| **Immediately prior to** <br> **partial surrender** | Life Insurance Benefit | $1075000 | $1075000 |
| **Immediately prior to** <br> **partial surrender** | Cash Value | $500000 | $500000 |
| **Immediately prior to** <br> **partial surrender** | Partial Surrender | $350000 | $350000 |
| **Immediately prior to** <br> **partial surrender** | &nbsp;&nbsp; IRC Sec. 7702 Percentage (Male, Attained <br> Age 45 at time of partial surrender under <br> CVAT)<br>| 201% | 201% |
| **After the partial surrender** | **Total Face Amount:** | **Total Face Amount:** | **$1075000** |
| **After the partial surrender** | &nbsp;&nbsp; We reduce Face Amount by the difference between (1) or (2), <br> not less than 0, where: | &nbsp;&nbsp; We reduce Face Amount by the difference between (1) or (2), <br> not less than 0, where: |  |
| **After the partial surrender** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) is the partial surrender amount ($350000); and | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) is the partial surrender amount ($350000); and | $350000 |
| **After the partial surrender** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the greater of: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the greater of: |  |
| **After the partial surrender** | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Cash Value ($500000) less Death Benefit ($1075000) <br> divided by IRC Sec 7702 Percentage (201%); or | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Cash Value ($500000) less Death Benefit ($1075000) <br> divided by IRC Sec 7702 Percentage (201%); or | $0 |
| **After the partial surrender** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) $0. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) $0. | $0 |
| **After the partial surrender** | &nbsp;&nbsp; **Face Amount Reduction: (difference between (1) $350,000** <br> **and (2) $0)** | &nbsp;&nbsp; **Face Amount Reduction: (difference between (1) $350,000** <br> **and (2) $0)** | **$350000** |
| **After the partial surrender** | **Face Amount Reduced to:** | **Face Amount Reduced to:** | **$725000** |

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***Full Surrenders***

*Cash Surrender Value*

The Cash Surrender Value of your policy is the amount we will pay you if you request a full surrender of your policy and the ACSV is not available. The Cash Surrender Value of your policy is equal to the Cash Value of the policy minus any surrender charges that may apply and minus outstanding policy loans (including any accrued loan interest). Since the Cash Value of the policy fluctuates with the performance of the Investment Divisions and the interest credited to the Fixed Investment Options, and because a surrender fee may apply, the Cash Surrender Value may be more or less than the total premium payments you have made minus any applicable fees and charges. You can surrender your policy for its Cash Surrender Value at any time while the insured is living.

*Alternative Cash Surrender Value* 

The ACSV is equal to the Available Cash Value of the Policy plus the CVE during the CVE Period; and is equal to the Available Cash Value of the Policy from the conclusion of the CVE Period until the ACSV Expiry Date. On or after the earlier of the ACSV Expiry Date or upon lapse of the policy, the ACSV is equal to zero. No surrender charges are applicable on a full surrender of the policy for its ACSV. You may receive the ACSV if you fully surrender your Policy within the first 10 Policy Years while the insured is still living. The ACSV is not available to support Monthly Deduction Charges or for purposes of a loan or partial surrender. The ACSV is also not available during the Free Look period or as part of an exchange under IRC Section 1035.

Cash Value Enhancement (CVE)

The CVE is equal to the cumulative Premium Expense Charge plus the cumulative Administrative Charges and Contract Charges assessed form the issuance of the policy, multiplied by the applicable rate shown on the Policy Specifications Pages.

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The example below illustrates how the ACSV compares to the Cash Surrender Value in a $250,000 Face Amount policy assuming an Issue Age of 40; a hypothetical rate of return of 5.43%; a $1,000 loan taken before the end of Policy Year 1; annual premiums of $17,383; and assuming the applicable fees and charges.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Policy**<br> **Year**<br>| **Cash**<br> **Value**<br>| **Outstanding**<br> **Loan &**<br> **Accrued Loan**<br> **Interest**<br>| **Available**<br> **Cash Value**<br>| **Surrender**<br> **Charge**<br>| **Cash Value**<br> **Enhancement**<br>| **Alternative**<br> **Cash**<br> **Surrender**<br> **Value**<br>| **Cash**<br> **Surrender**<br> **Value**<br>|
| 1 | &nbsp;&nbsp; $16676.14 | &nbsp;&nbsp; $1009.95 | &nbsp;&nbsp; $15666.19 | &nbsp;&nbsp; $5541.30 | &nbsp;&nbsp; $74.18 | &nbsp;&nbsp; $15740.37 | &nbsp;&nbsp; $10124.89 |
| 2 | &nbsp;&nbsp; $34205.45 | &nbsp;&nbsp; $1030.15 | &nbsp;&nbsp; $33175.30 | &nbsp;&nbsp; $5246.55 | &nbsp;&nbsp; $296.64 | &nbsp;&nbsp; $33471.94 | &nbsp;&nbsp; $27928.75 |
| 5 | &nbsp;&nbsp; $92597.47 | &nbsp;&nbsp; $1093.20 | &nbsp;&nbsp; $91504.27 | &nbsp;&nbsp; $4362.30 | &nbsp;&nbsp; $0.00 | &nbsp;&nbsp; $91504.27 | &nbsp;&nbsp; $87141.97 |
| 10 | &nbsp;&nbsp; $157316.13 | &nbsp;&nbsp; $1206.98 | &nbsp;&nbsp; $156109.15 | &nbsp;&nbsp; $589.50 | &nbsp;&nbsp; $0.00 | &nbsp;&nbsp; $156109.15 | &nbsp;&nbsp; $155519.65 |
| 11 | &nbsp;&nbsp; $164768.67 | &nbsp;&nbsp; $1231.12 | &nbsp;&nbsp; $163537.55 | &nbsp;&nbsp; $0.00 | &nbsp;&nbsp; $0.00 | &nbsp;&nbsp; $0 | &nbsp;&nbsp; $163537.55 |

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*Requesting A Surrender*

To surrender the policy, you must send a Request. For Requests to surrender above $50,000, we may require additional verification of the owner's identity in a manner acceptable to us, including without limitation, a notarized confirmation of the owner(s) signature or medallion signature guarantee. If your address or bank account information has been on file with us for less than 30 days, we may require additional verification of your identity, in Good Order, before we will process a request to send surrender proceeds electronically to that bank account or through the mail to that address.

*When The Surrender Is Effective*

Your surrender will be effective as of the end of the Business Day the VPSC receives your Request together with the policy. If, however, the day we receive your Request is not a Business Day or if your Request is received after the closing of regular trading on the New York Stock Exchange, the requested surrender will be effective on the next Business Day. Generally, we will mail the surrender proceeds within seven days after the effective date, subject to the limits explained in the "Policy Payment Information—When We Pay Life Insurance Proceeds" section. A surrender may result in taxable income and a penalty tax to you. (See "Federal Income Tax Considerations" for more information.)

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**Termination And Reinstatement**

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***Late Period***

If, on a Monthly Deduction Day, the No Lapse Guarantee is not in effect and your Cash Surrender Value is less than the Monthly Deduction Charges, your Policy will continue for a late period of 62 days after that Monthly Deduction Day. (See "State Variations and Rider Availability" for state-by-state details). This may happen even if all Planned Premiums have been paid. During this period, you have the opportunity to pay any premium needed to cover any overdue charges. We will mail a notice to your last known address stating this amount. We will send a copy of the notice to the last known assignee, if any, on our records. We will mail these notices at least 31 days before the end of the late period. Your policy will remain in effect during the late period. However, if we do not receive the required payment before the end of the late period, we will terminate your policy without any benefits. No new loans or partial surrenders may be taken during the late period. If your policy has a No Lapse Guarantee, it may prevent your policy from terminating during the period of time in which the No Lapse Guarantee is in effect.

If the insured dies during the late period, we will pay the Life Insurance Proceeds to the beneficiary. We will reduce the Life Insurance Proceeds by the amount of any unpaid loan and accrued loan interest and by any unpaid or deferred monthly deductions due from the Cash Value for the full policy month(s) from the beginning of the late period through the policy month in which the insured dies.

***No Lapse Guarantee*** 

The policy offers a No Lapse Guarantee.

The No Lapse Guarantee ("NLG") ensures that the policy will not lapse, provided that the NLG is in effect and that it passes an NLG Premium Test. The policy will pass the test on any Monthly Deduction Day if (a) - (b+c) + (d) is at least equal to the NLG Required Premium as of that date, where:

&nbsp;&nbsp;&nbsp;&nbsp;(a) equals the cumulative sum of all premiums paid to date under the policy;

&nbsp;&nbsp;&nbsp;&nbsp;(b) equals the amount of any partial surrenders and any associated processing fees;

&nbsp;&nbsp;&nbsp;&nbsp;(c) equals any outstanding policy loan and accrued loan interest; and

&nbsp;&nbsp;&nbsp;&nbsp;(d) equals one NLG Minimum Monthly Premium.

If the policy passes the NLG Premium Test, it will not enter the late period even if on a Monthly Deduction Day, your Cash Surrender Value is insufficient to pay the Monthly Deduction Charges for the next policy month. Rather, we will deduct the charges from the Available Cash Value to the extent possible. We will defer the deduction of any amount that exceeds the Available Cash Value until the end of the Guarantee Period. It is possible, therefore, that a negative Cash Value could accumulate while the NLG is in effect. The NLG will become inactive before the end of the Guarantee Period if, on any Monthly Deduction Day, your premium payments do not pass the NLG Premium Test. If this occurs, you will have the opportunity to reactivate the NLG by paying an additional premium amount necessary to satisfy the NLG Premium Test and put the NLG back into effect. If that payment is not made the NLG will be treated as ended.

The NLG will end when the Guarantee Period ends. When the Guarantee Period ends, if there is insufficient Cash Surrender Value to cover the current and any deferred Monthly Deduction Charges, you will be sent a bill for the accumulated negative amount. If that bill is not paid, the policy will enter the late period. If the bill is not paid in the late period, the policy will end and there will be no Cash Value or Life Insurance Benefit.

The Guarantee Period is 10 years from the Policy Date.

***Reinstatement Option***

If your policy has ended, you can request that we reinstate your policy if all of these conditions are met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● you send a Request for reinstatement within three years after your policy is ended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the insured is alive; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● you have not surrendered your policy for its Cash Surrender Value or ACSV.

Keep in mind that a termination and subsequent reinstatement may cause your policy to become a modified endowment contract. Modified endowment contracts are subject to less favorable tax treatment on partial surrenders or amounts borrowed from the policy.

To reinstate your policy, a payment equal to the sum of the following amounts (the "Reinstatement Payment") must be made:

&nbsp;&nbsp;&nbsp;&nbsp;(a) An Unplanned Premium payment sufficient to cover the Monthly Deduction Charges and any other policy charges for three months after the date of reinstatement multiplied by the factor shown on the Additional Policy Information section of your Policy Specifications Pages;

&nbsp;&nbsp;&nbsp;&nbsp;(b) An Unplanned Premium payment equal to any Monthly Deduction Charges or other policy charges that were due and unpaid at the time of termination multiplied by the factor shown on the Additional Policy Information section of your Policy Specifications Pages; and

&nbsp;&nbsp;&nbsp;&nbsp;(c) An amount equal to any outstanding policy loans, together with accrued loan interest, that was not paid from Cash Value at the time of termination.

Any policy loan(s) in effect at the time of termination of your policy are not eligible for reinstatement.

If the required payment is made within 31 days after the end of the late period, no proof of insurability is required. If the required payment is not made within 31 days after the end of the late period, a written application will be required and you must provide proof of insurability that is acceptable to us.

We will apply your payment to the Investment Divisions and/or the Fixed Account as of the Business Day we receive it and in accordance with your instructions at the time you make such payment. Payments received after 4:00 p.m. (Eastern Time) on any Business Day, or any non-Business Day, will be credited on the next Business Day.

The effective date of reinstatement will be the Monthly Deduction Day on or immediately following the later of (i) the date we approve your signed Request for reinstatement; and (ii) the date we receive the Reinstatement Payment.

If we reinstate your policy, the Face Amount for the reinstated policy will be the same as it would have been if the policy had not terminated.

The Cash Value of the reinstated policy will equal:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Reinstatement Payment net of applicable Premium Expense Charges, plus

&nbsp;&nbsp;&nbsp;&nbsp;(b) the Surrender Charge which applies at the time of reinstatement, minus

&nbsp;&nbsp;&nbsp;&nbsp;(c) any Monthly Deduction Charges due and unpaid at the time of termination, minus

&nbsp;&nbsp;&nbsp;&nbsp;(d) any outstanding Policy loans, together with accrued loan interest, that was not paid from cash value at the time of termination.

New Contestable and Suicide Exclusion periods will apply from the effective date of reinstatement. If your Policy ends during the first 10 Policy Years, while you are eligible to receive the ACSV, the ACSV will not be reinstated, even if additional premiums are paid into the Policy.

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**Distribution And Compensation Arrangements**

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NYLIFE Distributors, the underwriter and distributor of the policies, is registered with the SEC and FINRA as a broker-dealer. The firm is an indirect wholly-owned subsidiary of NYLIC, and an affiliate of NYLIAC. Its principal business address is 30 Hudson Street, Jersey City, New Jersey 07302.

The policies are sold by registered representatives of NYLIFE Securities, a broker-dealer that is an affiliate of NYLIFE Distributors, and by registered representatives of unaffiliated broker-dealers. Your registered representative is also a licensed insurance agent with NYLIC. He or she may be qualified to offer other forms of life insurance, annuities, and other investment products. In certain circumstances, NYLIFE Securities registered representatives can sell both products manufactured and issued by NYLIC or its affiliates and products provided by other companies.

As discussed in the Commissions Paid to Dealers section above, the selling broker-dealer, and in turn your registered representative, will receive compensation for selling you this policy or any other investment product. See Charges Associated with the Policy – Commissions Paid To Dealers.

Please refer to the Statement of Additional Information for additional information on distribution and compensation arrangements. You may obtain a paper copy of the SAI by mail (at the VPSC at one of the addresses listed on the first page of this prospectus or any other address we indicate to you in writing) or by phone on our toll-free number (1-800-598-2019). The SAI is also posted at the following website, https://dfinview.com/NewYorkLife/TAHD/marketwealthplus.

**Federal Income Tax Considerations**

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***Our Intent***

Our intent in the discussion in this section is to provide general information about federal income tax considerations related to the policies. This is not an exhaustive discussion of all tax questions that might arise under the policies. This discussion is not intended to be tax advice for you. Tax results may vary according to your particular circumstances, and you may need tax advice in connection with the purchase or use of your policy.

The discussion in this section is based on our understanding of the present federal income tax laws as they are currently interpreted by the IRS. We have not included any information about applicable state or other tax laws (except as noted in "Other Tax Considerations", below). Further, you should note that tax law changes from time to time. We do not know whether the treatment of life insurance policies under federal income tax or estate or gift tax laws will continue. Future legislation, regulations, or interpretations could adversely affect the tax treatment of life insurance policies. Lastly, there are many areas of the tax law where minimal guidance exists in the form of Treasury Regulations or Revenue Rulings. You should consult a tax advisor for information on the tax treatment of the policies, for the tax treatment under the laws of your state, or for information on the impact of proposed or future changes in tax legislation, regulations, or interpretations.

The ultimate effect of federal income taxes on values under the policy and on the economic benefit to you or the beneficiary depends upon NYLIAC's tax status, upon the terms of the policy, and upon your circumstances.

***Tax Status Of NYLIAC And The Separate Account***

NYLIAC is taxed as a life insurance company under Subchapter L of the IRC. The Separate Account is not a separate taxable entity from NYLIAC and we take its operations into account in determining NYLIAC's income tax liability. As a result, NYLIAC takes into account applicable tax attributes of the assets of the Separate Account on its corporate income tax return, including corporate dividends received deductions and foreign tax credits that may be produced by assets of the Separate Account. All investment income and realized net capital gains on the assets of the Separate Account are reinvested and taken into account in determining policy Cash Values, and are automatically applied to increase the book reserves associated with the policies. Under existing federal income tax law, NYLIAC believes that Separate Account investment income and realized net capital gains should not be taxed to the extent that such income and gains are retained as part of the tax-deductible reserves under the policy.

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***Charges For Taxes***

We impose a federal tax charge on Non-Qualified Policies equal to 1.25% of premiums received under the policy to compensate us for taxes we have to pay under IRC Section 848 in connection with our receipt of premiums under Non-Qualified Policies. We may increase this charge to reflect changes in the IRC or otherwise to reflect changes in the taxes we owe. See "Deductions from Premium Payments—Premium Expense Charge" for additional information. No other charge is currently made to the Separate Account for our federal income taxes that may be attributable to the Separate Account. In the future, we may impose a charge for our federal income taxes attributable to the Separate Account. In addition, depending on the method of calculating interest on amounts allocated to the Fixed Account and/ or DCA Accounts, we may impose a charge for the policy's share of NYLIAC's federal income taxes attributable to the Fixed Account and/or DCA Accounts.

Under current laws, we may incur state or local taxes other than premium taxes (including income, franchise and capital taxes) in several states and localities. At present we do not charge the Separate Account for these taxes. We, however, reserve the right to charge the Separate Account for the portion of such taxes, if any, attributable to the Separate Account or the policies.

***Diversification Standards And Control Issues***

In addition to other requirements imposed by the IRC, a policy will qualify as life insurance under the IRC only if the diversification requirements of IRC Section 817(h) are satisfied by the Separate Account. We intend for the Separate Account to comply with IRC Section 817(h) and related regulations. To satisfy these diversification standards, the regulations generally require that on the last day of each calendar quarter, no more than 55% of the value of a Separate Account's assets can be represented by any one investment, no more than 70% can be represented by any two investments, no more than 80% can be represented by any three investments, and no more than 90% can be represented by any four investments. For purposes of these rules, all securities of the same issuer generally are treated as a single investment, but each U.S. Government agency or instrumentality is treated as a separate issuer. Under a "look through" rule, we are able to meet the diversification requirements by looking through the Separate Account to the underlying Eligible Portfolio. Each of the Funds has committed to us that the Eligible Portfolios will meet the diversification requirements.

The IRS has stated in published rulings that a variable policyowner will be considered the owner of separate account assets if he or she possesses incidents of ownership in those assets, such as the ability to exercise investment control over the assets. In those circumstances, income and gains from the separate account assets would be includable in the variable policyowner's gross income. In connection with its issuance of temporary regulations under IRC Section 817(h) in 1986, the Treasury Department announced that such temporary regulations did not provide guidance concerning the extent to which policyowners could be permitted to direct their investments to particular Investment Divisions of a separate account and that guidance on this issue would be forthcoming. Regulations addressing this issue have not yet been issued or proposed. The ownership rights under your policy are similar to, but different in certain respects from, those described by the IRS in rulings in which it was determined that policyowners were not owners of separate account assets. For example, you have additional flexibility in allocating premium payments and policy Cash Values. These differences could result in you being treated as the owner of your policy's pro rata portion of the assets of the Separate Account. In addition, we do not know what standards will be set forth, if any, in the regulations or rulings which the Treasury Department has stated it expects to issue. We therefore reserve the right to modify the policy, as deemed appropriate by us, to attempt to prevent you from being considered the owner of your policy's pro rata share of the assets of the Separate Account. Moreover, in the event that regulations are adopted or rulings are issued, there can be no assurance that the Eligible Portfolios will continue to be available, will be able to operate as currently described in the Fund prospectuses, or that a Fund will not have to change an Eligible Portfolio's investment objective or investment policies.

***Life Insurance Status Of Policy***

We believe that the policy meets the statutory definition of life insurance under IRC Section 7702 and that you and the beneficiary of your policy, subject to the discussion below under "IRC Section 101(j)—Impact on Employer-Owned Policies", will receive the same federal income tax treatment as that accorded to owners and beneficiaries of fixed benefit life insurance policies. Specifically, subject to the discussion below under "IRC Section 101(j)—Impact on Employer- Owned Policies", we believe that the Life Insurance Benefit under your policy will be excludable from the gross income of the beneficiary subject to the terms and conditions of IRC Section 101(a)(1). Pursuant to IRC

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Section 101(g), amounts received by the policyowner may, as described below, also be excludable from the policyowner's gross income when the insured has a terminal illness and benefits are paid under the Living Benefits Rider. (Life insurance benefits under a "modified endowment contract" as discussed below are treated in the same manner as Life Insurance Benefits under life insurance policies that are not so classified.)

In addition, unless the policy is a "modified endowment contract," in which case the receipt of any loan under the policy may result in recognition of income to the policyowner, we believe that the policyowner will not be deemed to be in constructive receipt of the cash values, including increments thereon, under the policy until proceeds of the policy are received upon a surrender of the policy or a partial surrender or, in certain circumstances where there is an existing policy loan, upon a surrender or lapse of the policy.

We reserve the right to make changes to the policy if we think it is appropriate to attempt to assure qualification of the policy as a life insurance contract. If a policy were determined not to qualify as life insurance, the policy would not provide the tax advantages normally provided by life insurance.

***IRC Section 101(j)—Impact Of Employer-Owned Policies***

For an "employer-owned life insurance contract" issued after August 17, 2006 (unless issued in a 1035 exchange for a contract originally issued prior to that date where the new contract is not materially different from the exchanged contract), if certain specific requirements described below are not satisfied, IRC Section 101(j) generally requires policy beneficiaries to treat death proceeds paid under such contract as income to the extent such proceeds exceed the premiums and other amounts paid by the policyholder for the contract. This rule of income inclusion will not apply if, before the policy is issued, the employer-policyholder provides certain written notice to and obtains certain written consents from insureds (who must be United States citizens or residents) in circumstances where:

&nbsp;&nbsp;&nbsp;&nbsp;(1) the insured was an individual who was an employee within 12 months of their death;

&nbsp;&nbsp;&nbsp;&nbsp;(2) the insured was a "highly compensated employee" at the time the contract was issued. In general, highly compensated employees for this purpose are more than 5 percent owners, employees who for policies issued in 2026 received compensation in excess of $160,000 in 2025, directors and anyone else in the top 35 percent of employees based on compensation;

&nbsp;&nbsp;&nbsp;&nbsp;(3) the death proceeds are paid to a family member of the insured (as defined under Code Section 267 (c)(4)), an individual who is a designated beneficiary of the insured under the policy (other than the policyholder), a trust established for either the family member's or beneficiary's benefit, or the insured's estate; or

&nbsp;&nbsp;&nbsp;&nbsp;(4) the death proceeds are used to buy an equity interest in the policyholder from the family member, beneficiary, trust or estate.

Policyholders that own one or more contracts subject to IRC Section 101(j) will also be subject to annual reporting and record-keeping requirements. In particular, such policyholders must file Form 8925 annually with their U.S. income tax return.

If the contract is issued in a 1035 exchange of another employer-owned life insurance contract that satisfied the notice and consent requirements referred to above or that predated the effective date of Section 101(j), you should discuss with your legal and tax advisors whether and to what extent a new notice and consent are required in connection with this exchange.

You should consult with your tax advisor to determine whether and to what extent IRC Section 101(j) may apply to the Policy. Assuming the Act applies, you should, to the extent appropriate, (in consultation with your tax advisor), take the necessary steps, before you acquire the Policy, to ensure that the income inclusion rule described above does not apply to the Policy.

***Modified Endowment Contract Status***

IRC Section 7702A defines a class of life insurance policies referred to as modified endowment contracts. Under this provision, the policies will be treated for tax purposes in one of two ways. Policies that are not classified as modified endowment contracts will be taxed as conventional life insurance policies, as described below. Taxation of pre-death distributions (including loans) from policies that are classified as modified endowment contracts is somewhat different, as described below.

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A life insurance policy becomes a "modified endowment contract" if, at any time during the first seven policy years, the sum of actual premiums paid exceeds the sum of the "seven-pay premium." Generally, the "seven-pay premium" is the level annual premium, such that if paid for each of the first seven policy years, will fully pay for all future life insurance and endowment benefits under a life insurance policy. For example, if the "seven-pay premium" was $10,000, the maximum premium that could be paid during the first seven policy years to avoid "modified endowment" treatment would be $10,000 in the first year, $20,000 through the first two years and $30,000 through the first three years, etc. Under this test, a policy may or may not be a modified endowment contract, depending on the amount of premium paid during each of the policy's first seven years. A policy received in exchange for a modified endowment contract will be taxed as a modified endowment contract even if it would otherwise satisfy the seven-pay test.

Certain changes in the terms of a policy, including a reduction in Life Insurance Benefits, will require a policy to be retested to determine whether the change has caused the policy to become a modified endowment contract. A reduction in Life Insurance Benefits will require retesting if it occurs within seven years after the beginning of the test period. In addition, if a "material change" occurs at any time while the policy is in force, a new seven-pay test period will start and the policy will need to be retested to determine whether it continues to meet the seven-pay test. A "material change" generally includes increases in Life Insurance Benefits, but, where applicable, does not include an increase in Life Insurance Benefits which is attributable to the payment of premiums necessary to fund the lowest level of Life Insurance Benefits payable during the first seven Policy Years, or which is attributable to the crediting of interest with respect to such premiums.

Because the policy provides for flexible premiums, NYLIAC has instituted procedures to monitor whether, under our current interpretation of the law, increases in Life Insurance Benefits or additional premiums cause either the start of a new seven-year test period or the taxation of distributions and loans. All additional premiums will be considered in these determinations.

If a policy fails the seven-pay test, all distributions (including loans) occurring in the Policy Year of failure and thereafter will be subject to the rules for modified endowment contracts. A recapture provision may also apply to loans and distributions that are received in anticipation of failing the seven-pay test. Under the IRC, any distribution or loan made within two years prior to the date that a policy fails the seven-pay test is considered to have been made in anticipation of the failure.

Any amounts distributed under a "modified endowment contract" (including proceeds of any loan) are taxable to the extent of any accumulated income in the policy. Penalty taxes may apply to such taxable amounts as well. In general, the amount that may be subject to tax is the excess of the Cash Value (both loaned and unloaned) over the previously unrecovered premiums paid.

For purposes of determining the amount of income received upon a distribution (or loan) from a modified endowment contract, the IRC requires the aggregation of all modified endowment contracts issued to the same policyowner by an insurer and its affiliates within the same calendar year. Therefore, loans and distributions from any one such policy are taxable to the extent of the income accumulated in all the modified endowment contracts required to be so aggregated.

If any amount is taxable as a distribution of income under a modified endowment contract (as a result of a policy surrender, a partial surrender, or a loan), it may also be subject to a 10% penalty tax under IRC Section 72(v). Limited exceptions from the additional penalty tax are available for certain distributions to individuals who own policies. The penalty tax will not apply to distributions: (i) that are made on or after the date the taxpayer attains age 59½ ; or (ii) that are attributable to the taxpayer's becoming disabled; or (iii) that are part of a series of substantially equal periodic payments (made not less frequently than annually) made for the life or life expectancy of the taxpayer or for the joint lives or joint life expectancies of the taxpayer and his or her Beneficiary.

***Status Of The Policy After The Insured Is Age 100***

The IRS has not issued final guidance on the status of a life insurance policy after an insured becomes Age 100. Although the policy will continue to pay the Life Insurance Benefit after Age 100, there is a risk that the policy may not qualify as life insurance under the Federal tax law after the insured becomes Age 100 and that the policyowner may become subject to adverse tax consequences at that time. For this reason, a tax advisor should be consulted about the advisability of continuing the policy after the insured becomes Age 100.

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***Policy Surrenders And Partial Surrenders***

Upon a full surrender of a policy for its Cash Surrender Value or the ACSV, if applicable, you will recognize ordinary income for federal tax purposes to the extent that the Cash Value minus surrender charges and any uncollected additional contract charges, exceeds the investment in your policy (the total of all premiums paid but not previously recovered plus any other consideration paid for the policy). The tax consequences of a partial surrender from your policy will depend upon whether the partial surrender results in a reduction of future benefits under your policy and whether your policy is a modified endowment contract. If upon a full surrender of a policy the premium payments made exceed the surrender proceeds plus the amount of any outstanding loans, you will recognize a loss, which is not deductible for federal income tax purposes.

If your policy is not a modified endowment contract, the general rule is that a partial surrender from a policy is taxable only to the extent that it exceeds the total investment in the policy. An exception to this general rule applies, however, if a reduction of future benefits occurs during the first fifteen years after a policy is issued and there is a cash distribution associated with that reduction. In such a case, the IRC prescribes a "recapture ceiling" formula under which you may be taxed on all or a part of the amount distributed. After fifteen years, cash distributions from a policy that is not a modified endowment contract will not be subject to federal income tax, except to the extent they exceed the total investment in the policy. We suggest that you consult with a tax advisor in advance of a proposed decrease in Face Amount or a partial surrender.

***3.8 Percent Medicare Tax On Certain Investment Income***

In general, a tax of 3.8 percent will apply to net investment income ("NII") received by an individual taxpayer to the extent his or her modified adjusted gross income ("MAGI") exceeds certain thresholds (e.g., $250,000 in the case of taxpayers filing jointly, $125,000 in the case of a married taxpayer filing separately and $200,000 in the case of other individual taxpayers). For this purpose, NII includes (i) gross income from various investments, including gross income received with respect to annuities that are not held through a tax-qualified plan (e.g., a traditional IRA or Section 403(b) plan) and (ii) net gain attributable to the disposition of property. Such NII (as well as gross income from tax qualified plans) will also increase a taxpayer's MAGI for purposes of the taxable thresholds described above. This tax also applies to trusts and estates under a special set of rules. In 2012, the IRS and the Treasury Department issued guidance regarding this new tax in the form of proposed regulations, which were finalized in 2013. You should consult your tax advisor to determine the applicability of this tax in your individual circumstances and with respect to any amount received in connection with the surrender of this policy or distributions from this policy or the exercise of other rights and options under this policy (including policy loans).

***Policy Loans And Interest Deductions***

We believe that under current law any loan received under your policy will be treated as policy debt to you and that, unless your policy is a modified endowment contract, no part of any loan under your policy will constitute income to you. If your policy is a modified endowment contract (see discussion above) loans will be fully taxable to the extent of the income in the policy (and in any other contracts with which it must be aggregated) and could be subject to the additional 10% penalty tax described above.

Internal Revenue Code Section 264 provides that interest paid or accrued on a loan in connection with a policy is generally nondeductible. Certain exceptions apply, however, with respect to policies covering key employees. In addition, in the case of policies not held by individuals, special rules may limit the deductibility of interest on loans that are not made in connection with a policy. We suggest consultation with a tax advisor for further guidance.

In addition, if your policy lapses or you surrender it with an outstanding loan, and the amount of the loan plus the Cash Surrender Value is more than the sum of premiums you paid, you will generally be liable for taxes on the excess. Such amount will be taxed as ordinary income. A 10% penalty tax may apply as well. Finally, it is possible that a loan could be treated as a taxable distribution if there is no spread or a very small spread between the interest rate charged on the loan and the interest rate credited to the loaned amount.

***Exchanges, Sales Or Assignments Of Policies***

If you change the policyowner or exchange or assign your policy, it may have significant tax consequences depending on the circumstances. An assignment, sale, or exchange of the policy may result in taxable income and tax

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penalties to you. Further, IRC Section 101(a) provides, subject to certain exceptions, that where a policy has been transferred for value, only the portion of the Life Insurance Benefit which is equal to the total consideration paid for the policy may be excluded from gross income. Based on IRS guidance, amounts received in excess of the consideration paid for the policy may be taxed as ordinary income to the extent of the amount of gain that would have been realized had the policy been surrendered. Based on the same guidance, amounts received in excess of that amount would be taxed as a capital gain. If you sell your policy in a reportable policy sale, the Tax Cuts and Jobs Act of 2017 imposes new information reporting requirements on the purchaser and the policy issuer. Under these new reporting requirements, certain information related to the sale may be required to be reported to the IRS and to the seller. For complete information with respect to policy assignments, sales and exchanges, a qualified tax advisor should be consulted.

***Living Benefits Rider (Filed As Accelerated Benefits Rider)***

A Living Benefits Rider is available in connection with the policy. Amounts received under this rider will generally be excludable from your gross income under IRC Section 101(g). The exclusion from gross income will not apply, however, if you are not the insured and if you have an insurable interest in the life of the insured either because the insured is your director, officer or employee, or because the insured has a financial interest in a business of yours.

In some cases, there may be a question as to whether a life insurance policy that has an accelerated living benefit rider can meet certain technical aspects of the definition of "life insurance contract" under the IRC. We reserve the right (but we are not obligated) to modify the rider to conform with requirements the IRS may prescribe.

***Overloan Protection Rider***

Anyone contemplating the purchase of the policy with the Overloan Protection Rider should be aware that the tax consequences of the Overloan Protection Rider have not been ruled on by the IRS or the courts and it is possible that the IRS could assert that the outstanding loan balance should be treated as a taxable distribution when the Overloan Protection Rider is activated. You should consult a tax adviser as to the tax risks associated with the Overloan Protection Rider.

***Withholding***

Under IRC Section 3405, withholding is generally required with respect to certain taxable distributions under insurance policies. In the case of periodic payments (payments made as an annuity or on a similar basis), the withholding is at graduated rates (as though the payments were employee wages) based on the information you furnish on Form W-4P. With respect to non-periodic distributions, the withholding is at a flat rate of 10% unless you request a different rate of withholding on Form W-4R. You can elect to have either non-periodic or periodic payments made without withholding except where your tax identification number has not been furnished to us, or where the IRS has notified us that a tax identification number is incorrect.

Different withholding rules apply to payments made to U.S. citizens living outside the United States and to non-U.S. citizens living outside of the United States. U.S. citizens who live outside of the United States generally are not permitted to elect not to have federal income taxes withheld from payments. Payments to non-U.S. citizens who are not residents of the United States generally are subject to 30% withholding, unless an income tax treaty between their country of residence and the United States provides for a lower rate of withholding or an exemption from withholding.

Under the Foreign Account Tax Compliance Act ("FATCA"), as reflected in IRC Sections 1471 through 1474, U.S. withholding agents (such as NYLIAC) may be required to obtain certain information to establish the U.S. or non-U.S. status of its account or contract holders (e.g., a Form W-9 or W-8BEN may be required) and perform certain due diligence to ensure that information is accurate. In certain cases, if this information is not obtained, withholding agents, such as NYLIAC may be required to withhold at a 30% rate on certain payments.

***Business Uses Of Policy***

Businesses can use the policies in various arrangements, including nonqualified deferred compensation or salary continuance plans, split dollar insurance plans, executive bonus plans, tax exempt and nonexempt welfare benefit plans, retiree medical benefit plans and others. The tax consequences of such plans may vary depending on the particular facts and circumstances. If you are purchasing the policy for any arrangement the value of which depends

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in part on its tax consequences, you should consult a qualified tax advisor. In recent years, moreover, Congress has adopted new rules relating to life insurance owned by businesses. Any business contemplating the purchase of a new policy or a change in an existing policy should consult a tax advisor.

***Non-Individual Owners And Business Beneficiaries Of Policies***

If a policy is owned or held by a corporation, trust or other entity that is not a natural person, this could jeopardize some or all of such entity's interest deduction under IRC Section 264, even where such entity's indebtedness is in no way connected to the policy. In addition, under IRC Section 264(f)(5), if a business (other than a sole proprietorship) is directly or indirectly a beneficiary of a policy, the policy could be treated as held by the business for purposes of the IRC Section 264(f) entity-holder rules. A qualified tax advisor should be consulted before any non-natural person is made an owner or holder of a policy, or before a business (other than a sole proprietorship) is made a beneficiary of a policy.

***Corporate Owners***

Ownership of a policy by a corporation may affect the policyowner's exposure to the corporate alternative minimum tax enacted under the Inflation Reduction Act of 2022 ("CAMT"). The CAMT applies to certain large corporations that satisfy certain financial thresholds over certain periods of time. It is a minimum tax system intended to ensure that applicable corporations annually pay at least a 15% tax on adjusted financial statement income, as defined under CAMT (the "Minimum Tax"). If the Minimum Tax exceeds the amount of tax an applicable corporation would pay under the regular corporate tax system for a given year, the corporation may have an additional tax obligation under CAMT. There may be a credit for such additional tax in a later year. You should discuss with your tax advisor whether and to what extent ownership of the policy may cause you to be subject to the CAMT in any given tax year.

***Split-Dollar Arrangements***

The IRS and the Treasury Department have issued guidance that substantially affects split-dollar arrangements. Consult a qualified tax advisor before entering into or paying additional premiums with respect to such arrangements.

Additionally, the Sarbanes-Oxley Act of 2002 prohibits, with limited exceptions, publicly-traded companies, including non-U.S. companies that have securities listed on exchanges in the United States, from extending, directly or through a subsidiary, many types of personal loans to their directors or executive officers. It is possible that this prohibition may be interpreted as applying to split-dollar life insurance policies for directors and executive officers of such companies, since such insurance arguably can be viewed as involving a loan from the employer for at least some purposes. Although the prohibition on loans is generally effective as of July 30, 2002, there is an exception for loans outstanding as of the date of enactment, so long as there is no material modification to the loan terms and the loan is not renewed after July 30, 2002.

Any affected business contemplating the payment of a premium on an existing policy, or the purchase of a new policy, in connection with a split-dollar life insurance arrangement should consult legal counsel.

***Tax Shelter Regulations***

Prospective owners that are corporations should consult a tax advisor about the treatment of the policy under the Treasury Regulations applicable to corporate tax shelters.

***Other Tax Considerations***

The transfer of the policy or designation of a beneficiary may have federal, state, and/or local transfer and inheritance tax consequences, including the imposition of gift, estate, and generation-skipping transfer taxes. For example, the transfer of the policy to, or the designation as a beneficiary of, or the payment of proceeds to, a person who is assigned to a generation which is two or more generations below the generation assignment of the owner may have generation skipping transfer tax consequences under federal tax law.

The individual situation of each Policyowner or beneficiary will determine the extent, if any, to which federal, state, and local transfer and inheritance taxes may be imposed and how ownership or receipt of life insurance proceeds will be treated for purposes of federal, state and local estate, inheritance, generation skipping and other taxes.

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For 2026, the federal estate tax, gift tax, and GST tax exemptions and maximum rates are $15,000,000 (as adjusted for inflation starting in 2027), and 40%, respectively.

You should seek guidance from a qualified tax advisor to help ensure that your estate plan adequately addresses your needs and those of your beneficiaries under all possible scenarios.

***Life Insurance Purchases By Residents Of Puerto Rico***

In Rev. Rule 2004-75, 2004-31 I.R.B. 109, the IRS announced that income received by residents of Puerto Rico under life insurance contracts issued by a Puerto Rico branch of a United States life insurance company is U.S.-source income that is generally subject to United States Federal income tax.

**Legal Proceedings**

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NYLIAC is a defendant in lawsuits arising from its agency sales force, insurance (including variable contracts registered under Federal securities law), and/or other operations. Some of these actions seek substantial or unspecified compensatory and punitive damages. NYLIAC is also from time to time involved in various governmental, administrative, and investigative proceedings and inquiries.

Notwithstanding the uncertain nature of litigation and regulatory inquiries, the outcome of which cannot be predicted, NYLIAC believes that, after provisions made in the financial statements, the ultimate liability that could result from litigation and proceedings would not have a material adverse effect on NYLIAC's financial position; however, it is possible, that settlements or adverse determinations in one or more actions or other proceedings in the future could have a material adverse effect on NYLIAC's operating results for a given year.

**Records And Reports**

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NYLIC or NYLIAC maintains all records and accounts relating to the Separate Account, the Fixed Account and the DCA Accounts. Each year we will mail you a report showing the Cash Value, Cash Surrender Value and the ACSV, if applicable, and outstanding loans (including accrued loan interest) as of the latest policy anniversary. This report contains any additional information required by any applicable law or regulation. We will also mail you a report each quarter showing this same information as of the end of the previous quarter. This quarterly statement reports transactions that you have requested or authorized. Please review it carefully.

Generally, NYLIAC will immediately mail you confirmation of any transactions involving the Separate Account. However, when we process certain transactions on your behalf involving the Separate Account, including transactions such as: (1) automatic asset rebalancing/reallocation options and Dollar-Cost Averaging Accounts; (2) premium payments initiated through pre-authorized deductions from banks or your employer; and/or (3) other pre-authorized deductions to which we agree, a summary of these policy transactions will only appear on your quarterly statement and you will not receive an immediate confirmation statement after each such transaction.

It is important that you inform NYLIAC of an address change so that you can receive these policy statements (please refer to the section on "Management and Organization—Our Rights—How To Reach Us for Policy Services"). In the event your statement is returned from the US Postal Service as undeliverable, we reserve the right to suspend mailing future correspondence and also suspend current transaction processing until a correct address is obtained. Additionally, no new service requests can be processed until a valid current address is provided.

Reports and promotional literature may contain the ratings NYLIC and NYLIAC have received from independent rating agencies. Both companies are among only a few companies that have consistently received among the highest possible ratings from the four major independent rating companies for financial strength and stability: A.M. Best, Fitch, Moody's Investor's Services, Inc. and Standard and Poor's. However, neither NYLIC nor NYLIAC guarantees the investment performance of the Investment Divisions.

**Financial Statements**

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The statutory statements of financial position of NYLIAC as of December 31, 2025 and 2024, and the related statutory statements of operations, of changes in capital and surplus, and of cash flows for each of the three years in the period ended December 31, 2025 (including the report of the independent registered public accounting firm) and

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each of the investment divisions of the Separate Account's statements of assets and liabilities as of December 31, 2025, and the statements of operations and of changes in net assets and the financial highlights for each of the periods indicated in the Financial Statements (including the report of the independent registered public accounting firm) are incorporated by reference in the SAI. The independent registered public accounting firm is PricewaterhouseCoopers LLP.

**State Variations and Rider Availability**

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***State Variations***

The following lists by jurisdiction any variations to the statements made in this prospectus.

Alabama, Alaska, Arkansas, Connecticut, Colorado, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Mississippi, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.

&nbsp;&nbsp;&nbsp;&nbsp;● *Payment of Life Insurance Benefit Proceeds*—See your policy for specific details regarding the payment of the Life Insurance Proceeds and the interest payable on those proceeds.

**California**

&nbsp;&nbsp;&nbsp;&nbsp;● Free Look ("Right To Examine Policy")— Within 20 days after delivery, you may return your Policy to NYLIAC or to the Registered Representative through whom it was purchased. Upon such return, your Policy will be void from the start, and a refund will be made. As of the date that your Policy is returned, the amount we refund will be your Policy's Cash Value, plus any Premium Expense Charge and Monthly Deduction Charges, minus loans and accrued loan interest.

&nbsp;&nbsp;&nbsp;&nbsp;● If you are over the age of 60, you may return the policy to NYLIAC or the Registered Representative through whom it was purchased within 30 days from the date you received it. During that 30-day period, your money will be placed in the Fixed Account or money-market fund, unless you direct that the premium be invested in the Investment Divisions during the 30-day period. If you do not direct that the premium be invested in the Investment Divisions, and if you return the policy within the 30-day period, you will be entitled to a refund of the premium and any policy fees paid less any loans and partial surrenders. If you do direct that the premium be invested in the Investment Divisions during the 30-day period, and if you return the policy during that period, you will be entitled to a refund of the policy's cash value on the day the policy is received by NYLIAC or the Registered Representative who sold you the policy, which could be less than the premium you paid for the policy, plus any policy fee paid. A return of the policy after 30 days may result in substantial penalties, including a surrender charge.

&nbsp;&nbsp;&nbsp;&nbsp;● *Payment Of Life Insurance Proceeds* - We will pay interest on the Life Insurance Proceeds at a rate no less than the rate required by the state in which the Policy is delivered.

&nbsp;&nbsp;&nbsp;&nbsp;● *Loan Value* - In no event will the available loan value be less than 75% of the Cash Surrender Value.

&nbsp;&nbsp;&nbsp;&nbsp;● *Contestable Period* - We will not contest your Policy after your Policy has been in effect during the lifetime of the Insured for 2 years from the Issue Date. Changes may be made to your Policy, including but not limited to an increase in the Life Insurance Benefit resulting from a Planned or an Unplanned Premium payment, or a rate Reclassification. In each of these cases, the 2-year contestable period for each change will begin on the effective date of such payment or Reclassification. We will not contest the increase in Life Insurance Benefit resulting from such change, based on statements made in the accompanying application after that increase has been in effect during the lifetime of the Insured for 2 years from its effective date. We will require evidence of insurability in cases of Reclassification. In addition, if your Policy ends and is reinstated, we will not contest your Policy based on statements made in the application for reinstatement after it has been in effect during the lifetime of the Insured for 2 years from the date of reinstatement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;● *Deferral of Payments to You* - Generally, we will pay any Cash Surrender Value (or ACSV, if available), loan proceeds, surrender proceeds, or Life Insurance Proceeds within 7 days after we receive all of the necessary requirements in Good Order. However, payment of any Cash Surrender Value (or ACSV, if available), loan proceeds, surrender proceeds, or Life Insurance Proceeds may be deferred as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● We may defer making any of these payments, except to pay premium due us, based on funds allocated to the Fixed Account, for up to 6 months from the date we receive your request; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● If such payment is based on Policy values which depend on the investment performance of the Separate Account, for any period during which we are unable to determine the amount to be paid because the New York Stock Exchange is closed (other than the usual weekend or holiday closings), trading is restricted by the Securities and Exchange Commission (SEC), an emergency exists, an Eligible Portfolio suspends redemptions pursuant to SEC rules, or the SEC, by order, permits us to delay payment in order to protect our policyowners.

&nbsp;&nbsp;&nbsp;&nbsp;● *Duty To Cooperate* - You, the applicant, the Insured and any irrevocable Beneficiary under your Policy each have a duty to cooperate with us in the underwriting of your Policy and in the investigation of any claim for benefits under your Policy, including any attached riders. The duty to cooperate includes, but is not limited to, providing signed authorizations and releasing information concerning all representations made in connection with the application, including those relating to medical condition and history and financial and employment information.

**Florida**

&nbsp;&nbsp;&nbsp;&nbsp;● Payment Of Life Insurance Proceeds - We will pay the Life Insurance Proceeds when we receive your claim in Good Order, and with due proof that the Insured died on or after the Effective Date of your Policy. The Life Insurance Proceeds will be paid in one sum. Interest accrues on these proceeds at an effective annual interest rate set by us and will be greater than or equal to the Moody's Corporate Bond Yield Average – Monthly Average Corporates, as published by Moody's Investors Services, Inc., or any successor to that service, as of the day the claim is received.

&nbsp;&nbsp;&nbsp;&nbsp;● Full Surrender - Provided your Policy has Cash Value, and the Insured is living, you may surrender it for its Cash Surrender Value, or if available, the ACSV. You may request a full surrender by sending us a Request. The Cash Value, Cash Surrender Value, and if applicable, the ACSV will be calculated as of the date on which we receive your Request. All insurance will end on the Business Day we receive your Request.

&nbsp;&nbsp;&nbsp;&nbsp;● Contestable Period - We will not contest your Policy after your Policy has been in effect during the lifetime of the Insured for 2 years from the Issue Date. Changes may be made to your Policy, including an increase in the Life Insurance Benefit resulting from a Planned or an Unplanned Premium payment, or a rate Reclassification. In each of these cases, the 2-year contestable period for each change will begin on the effective date of such payment or Reclassification. We will not contest the increase in Life Insurance Benefit resulting from such change, based on statements made in the accompanying application after that increase has been in effect during the lifetime of the Insured for 2 years from its effective date. We will require evidence of insurability in cases of Reclassification. In addition, if your Policy ends and is reinstated, we will not contest your Policy based on statements made in the application for reinstatement after it has been in effect during the lifetime of the Insured for 2 years from the date of reinstatement.

**Michigan**

&nbsp;&nbsp;&nbsp;&nbsp;● Living *Benefits Rider*—This benefit can be exercised if the Insured has a life expectancy of six months or less.

**New York**

&nbsp;&nbsp;&nbsp;&nbsp;● Free Look ("Right To Examine Policy")— Within 20 days after delivery, you may return your Policy to NYLIAC or to the Registered Representative through whom it was purchased, together with a Request for cancellation. Upon such a request, your Policy will be void from the start, and a refund will be made. As of the date that your Policy is returned, the amount we refund will be any premiums paid for the Policy, including any Policy fees or other charges, minus loans and accrued loan interest.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;● Reference to "State Insurance Department" means New York State Department of Financial Services.

&nbsp;&nbsp;&nbsp;&nbsp;● The Guaranteed Maximum Contract Charge is $10.

&nbsp;&nbsp;&nbsp;&nbsp;● The Maximum Administrative Charge is guaranteed to never exceed the current charge for the applicable class of risk, Issue Age, policy duration and initial Face Amount.

&nbsp;&nbsp;&nbsp;&nbsp;● The Surrender Charge Schedule used in determining the applicable charge as described in the "Charges Associated with Policy-Transactions Charges" section of the Prospectus is replaced with the following schedule for New York policies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Surrender Charge Schedule** | **Surrender Charge Schedule** |
| **Policy Year** | **Issue Age 60 and Less** |
| 1 | 94% |
| 2 | 76.8% |
| 3 | 55.1% |
| 4 | 34.9% |
| 5 | 16.0% |
| 6+ | 0% |

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&nbsp;&nbsp;&nbsp;&nbsp;● Special Provision Regarding Option to Purchase Paid-up Insurance—At any time, you may elect to surrender your Policy and apply the policy's Cash Surrender Value to purchase a new paid-up insurance policy. See your policy for details regarding this option.

&nbsp;&nbsp;&nbsp;&nbsp;● Change in Investment Objective of the Separate Account—In the event of a material change in the investment policy of the Separate Account, you have the option of converting your policy, within 60 days after the effective date of such change, or the date you receive notification of the options available, whichever is later. You may elect to convert this policy, without evidence of insurability, to a new fixed benefit life insurance policy, for an amount of insurance not exceeding the death benefit of the original policy on the date of conversion. The new policy will be based on the same issue age, gender and class of risk as your original policy. All riders attached to this policy will end on the date of conversion. The new policy will not offer variable Investment Options, such as the Investment Divisions.

&nbsp;&nbsp;&nbsp;&nbsp;● Loans—You may borrow any amount up to the Loan Value of your Policy using your Policy as sole security. The Loan Value on any given date is equal to [(100%-a) x b]-c, where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) equals the effective loan interest rate that will not exceed the Guaranteed Maximum Annual Loan Interest rate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) equals your Policy's Cash Surrender Value; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) equals the sum of three Monthly Deduction Charges.

In no event will the available Loan value be less than 75% of the Cash Surrender Value.

&nbsp;&nbsp;&nbsp;&nbsp;● Late Period—If, on a Monthly Deduction Day, the No Lapse Guarantee is not in effect and your Cash Surrender Value is less than the Monthly Deduction Charges, your Policy will continue for a late period of 61 days after that Monthly Deduction Day.

&nbsp;&nbsp;&nbsp;&nbsp;● Suicide Exclusion—The policy's suicide exclusion will not include the words, "while sane or insane." Also, a new suicide exclusion period will not apply to policies that have been reinstated.

&nbsp;&nbsp;&nbsp;&nbsp;● Persistency Credit—The Persistency Credit Percentage used in the calculation of the persistency credit is guaranteed.

&nbsp;&nbsp;&nbsp;&nbsp;● Partial Surrender—You may submit a Request for a partial surrender of your Policy at any time after the Right to Examine period, as shown in the Right To Examine policy provisions on the Policy cover page.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;● Requesting a Partial Surrender—We will not accept a partial surrender request that is greater than the amount in the Investment Divisions and/or the Fixed Investment Options you have chosen, or if it will increase your Net Amount at Risk.

&nbsp;&nbsp;&nbsp;&nbsp;● When we Pay Life Insurance Proceeds—If we defer payment of surrender or loan proceeds, we will pay interest on any amount deferred beginning 10 Business Days after the receipt of all the requirements that we need. The interest rate will be at least equal to the rate required by the laws of the state of New York.

&nbsp;&nbsp;&nbsp;&nbsp;● Overloan Protection Rider—After the benefit is exercised, loans and loan repayments may not be prohibited.

&nbsp;&nbsp;&nbsp;&nbsp;● Spouse's Paid-Up Insurance Purchase Option Rider—This is called the Rider Insured's Paid-Up Insurance Purchase Option (RIPPO) in New York.

**North Dakota**

&nbsp;&nbsp;&nbsp;&nbsp;● *Free Look ("Right to Examine Policy")*—Please examine your Policy. Within 20 days after delivery, you may return your Policy to NYLIAC or to the Registered Representative through whom it was purchased, together with a Request for a refund. Upon such a request, your Policy will be void from the start, and a refund will be made. As of the date that your Policy is returned, the amount we refund will be equal to the greater of (a) your Policy's Cash Value, plus any Premium Expense Charge, plus any Monthly Deduction Charges, minus loans and accrued loan interest, or (b) the premiums paid, minus loans, accrued loan interest, and partial surrenders including any processing fees.

&nbsp;&nbsp;&nbsp;&nbsp;● The Suicide Exclusion Period—is one year from the Issue Date.

&nbsp;&nbsp;&nbsp;&nbsp;● Life Insurance Benefit Proceeds—Settlements shall be made within 60 days after due proof of death. We will pay interest at a rate no less than the rate required by the state in which the Policy is delivered.

&nbsp;&nbsp;&nbsp;&nbsp;● Transfer of Net Premiums—If you make a full initial premium payment with the application, the Initial Premium Transfer Date is 20 days after the Issue Date. Otherwise, the Initial Premium Transfer Date is 20 days after the later of the Issue Date or the date we receive the full initial premium payment.

&nbsp;&nbsp;&nbsp;&nbsp;● Contestable Period - We will not contest your Policy after your Policy has been in effect during the lifetime of the Insured for 2 years from the Issue Date. Changes may be made to your Policy, including but not limited to an increase in the Life Insurance Benefit resulting from a Planned or an Unplanned Premium payment, or a rate Reclassification. In each of these cases, the 2-year contestable period for each change will begin on the effective date of such payment or Reclassification. We will not contest the increase in Life Insurance Benefit resulting from such change, based on statements made in the accompanying application after that increase has been in effect during the lifetime of the Insured for 2 years from its effective date. We will require evidence of insurability in cases of Reclassification. In addition, if your Policy ends and is reinstated, we will not contest your Policy based on statements made in the application for reinstatement after it has been in effect during the lifetime of the Insured for 2 years from the date of reinstatement.

**South Dakota**

&nbsp;&nbsp;&nbsp;&nbsp;● Free Look ("Right to Examine Policy")— Please examine your Policy. Within 20 days after delivery, you may return your Policy to NYLIAC or to the Registered Representative through whom it was purchased, together with a Request for a refund. Upon such a request, your Policy will be void from the start, and a refund will be made. As of the date that your Policy is returned, the amount we refund will be equal to the greater of (a) your Policy's Cash Value, plus any Premium Expense Charge, plus any Monthly Deduction Charges, minus loans and accrued loan interest, or (b) the premiums paid, minus loans, accrued loan interest, and partial surrenders including any processing fees.

&nbsp;&nbsp;&nbsp;&nbsp;● Transfer of Net Premiums— If you make a full initial premium payment with the application, the Initial Premium Transfer Date is 20 days after the Issue Date. Otherwise, the Initial Premium Transfer Date is 20 days after the later of the Issue Date or the date we receive the full initial premium payment.

&nbsp;&nbsp;&nbsp;&nbsp;● Life Insurance Benefit Proceeds—We will pay interest at a rate no less than the rate required by the state in which the Policy is delivered.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;● Contestable Period- We will not contest your Policy after your Policy has been in effect during the lifetime of the Insured for 2 years from the Issue Date. Changes may be made to your Policy, including but not limited to an increase in the Life Insurance Benefit resulting from a Planned or an Unplanned Premium payment, or a rate Reclassification. In each of these cases, the 2-year contestable period for each change will begin on the effective date of such payment or Reclassification. We will not contest the increase in Life Insurance Benefit resulting from such change, based on statements made in the accompanying application after that increase has been in effect during the lifetime of the Insured for 2 years from its effective date. We will require evidence of insurability in cases of Reclassification. In addition, if your Policy ends and is reinstated, we will not contest your Policy based on statements made in the application for reinstatement after it has been in effect during the lifetime of the Insured for 2 years from the date of reinstatement.

***Rider Availability*** 

*Premium Deposit Account ("PDA")*

&nbsp;&nbsp;&nbsp;&nbsp;● The PDA is available through Rider in Illinois, Indiana, Kansas, Pennsylvania, Tennessee, Texas and Washington. In all other jurisdictions, the PDA is available through a valid PDA Agreement with NYLIAC.

&nbsp;&nbsp;&nbsp;&nbsp;● California- The maximum number of Planned Premiums that can be funded through the PDA is 9 annual or 119 Monthly.

&nbsp;&nbsp;&nbsp;&nbsp;● Kansas- Partial withdrawals of any amount in the PDA is available at anytime subject to a withdrawal fee.

&nbsp;&nbsp;&nbsp;&nbsp;● Pennsylvania- We reserve the right to defer payment of a full cash withdrawal for up to 6 months for the date of request.

&nbsp;&nbsp;&nbsp;&nbsp;● Tennessee- We reserve the right to defer payment of a full cash withdrawal for up to 6 months from the date of request.

&nbsp;&nbsp;&nbsp;&nbsp;● Texas- There is no withdrawal fee for any withdrawals from the PDA. Unless it is a Special Withdrawal as defined in the Rider, a full cash withdrawal is only permitted after the first 5 Policy Years. Deposits into the PDA may not exceed $500,000.

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**Appendix: Eligible Portfolios Available Under the Policy**

***The Eligible Portfolios***

The following is a list of the Eligible Portfolios currently available under the policy. Before you invest, you should review the prospectuses for the Portfolios. These prospectuses contain more information about the Portfolios and their risks and may be amended from time to time. You can find the prospectuses and other information about the Portfolios online at https://dfinview.com/NewYorkLife/TAHD/marketwealthplus.You can also request this information at no cost by calling 1-800-598-2019 or sending an email request to MarketWealthPlusProspectus@newyorklife.com.

The current expenses and performance information below reflects fees and expenses of the Eligible 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.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **1 Year** | **5 Year** | **10 Year** |
| Large Cap Equity | NYLIM VP American Century Large Cap <br> Equity (formerly NYLI VP American Century <br> Sustainable Equity)—Initial Class<br>*Adviser: New York Life Investment* <br> *Management LLC ("New York Life* <br> *Investments")* <br>*Subadviser: American Century Investment* <br> *Management, Inc.*<br>| 0.68% | 11.34% | 13.96% | 11.86% |
| Asset Allocation | NYLIM VP Balanced—Initial Class<br>*Adviser: New York Life Investments* <br>*Subadvisers: NYL Investors LLC ("NYLI")* <br> *and Wellington Management LLP* <br> *("Wellington")*<br>| 0.72% | 11.44% | 7.41% | 7.30% |
| Investment Grade Bond | NYLIM VP Bond—Initial Class<br>*Adviser: New York Life Investments* <br>*Subadviser: NYLI*<br>| 0.55% | 6.83% | (0.63) % | 1.96% |
| Sector | NYLIM VP CBRE Global <br> Infrastructure—Initial Class<br>*Adviser: New York Life Investments* <br>*Subadviser: CBRE Investment Management* <br> *Listed Real Assets LLC*<br>| 0.95%\* | 15.60% | 7.06% | 2.64% |
| Asset Allocation | NYLIM VP Conservative Allocation—Initial <br> Class<br>*Adviser: New York Life Investments*<br>| 0.55% | 9.56% | 3.93% | 5.40% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **1 Year** | **5 Year** | **10 Year** |
| Large Cap Equity | NYLIM VP Dimensional U.S. Equity—Initial <br> Class<br>Adviser: *New York Life Investments*<br>Subadviser: *Dimensional Fund Advisors LP*<br>| 0.54% | 13.75% | 12.39% | 12.68% |
| Large Cap Equity | NYLIM VP Epoch U.S. Equity Yield—Initial <br> Class<br>*Adviser: New York Life Investments*<br>*Subadviser: Epoch Investment Partners, Inc.* <br> *("Epoch")*<br>| 0.68%\* | 14.24% | 12.02% | 9.96% |
| Asset Allocation | NYLIM VP Equity Allocation—Initial Class<br>*Adviser: New York Life Investments*<br>| 0.69% | 13.98% | 8.17% | 9.34% |
| Sector | NYLIM VP Fidelity Institutional AM<sup>®</sup> <br> Utilities—Initial Class<br>*Adviser: New York Life Investments*<br>*Subadviser: FIAM LLC*<br>| 0.68% | 13.79% | 12.34% | 10.97% |
| Non-Investment Grade <br> Bond<br>| NYLIM VP Floating Rate—Initial Class<br>*Adviser: New York Life Investments*<br>*Subadviser: NYLI*<br>| 0.64% | 5.13% | 5.43% | 5.01% |
| Asset Allocation | NYLIM VP Growth Allocation—Initial Class <br>*Adviser: New York Life Investments*<br>| 0.64% | 12.52% | 7.33% | 8.32% |
| Alternatives | NYLIM VP Hedge Multi-Strategy—Initial <br> Class<br>*Adviser: New York Life Investments*<br>| 1.01%\* | 8.05% | 2.92% | 2.07% |
| Asset Allocation | NYLIM VP Income Builder—Initial Class<br>*Adviser: New York Life Investments*<br>*Subadvisers: Epoch and MacKay Shields* <br> *LLC ("MacKay")* <br>| 0.63%\* | 16.99% | 6.56% | 7.40% |
| Asset Allocation | NYLIM VP Janus Henderson <br> Balanced—Initial Class<br>*Adviser: New York Life Investments*<br>*Subadviser: Janus Henderson Investors US* <br> *LLC ("Janus")*<br>| 0.58% | 15.05% | 8.58% | 10.19% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **1 Year** | **5 Year** | **10 Year** |
| Non-Investment Grade <br> Bond<br>| NYLIM VP MacKay Convertible—Initial <br> Class<br>*Adviser: New York Life Investments*<br>*Subadviser: MacKay*<br>| 0.59% | 16.40% | 5.60% | 10.38% |
| Non-Investment Grade <br> Bond<br>| NYLIM VP MacKay High Yield Corporate <br> Bond—Initial Class<br>*Adviser: New York Life Investments* <br>*Subadviser: MacKay*<br>| 0.59%\* | 6.87% | 4.44% | 6.14% |
| Non-Investment Grade <br> Bond<br>| NYLIM VP MacKay Strategic Bond—Initial <br> Class <br>*Adviser: New York Life Investments*<br>*Subadviser: MacKay*<br>| 0.65% | 8.87% | 3.98% | 4.40% |
| Investment Grade Bond | NYLIM VP MacKay U.S. Infrastructure <br> Bond—Initial Class<br>*Adviser: New York Life Investments*<br>*Subadviser: MacKay*<br>| 0.57% | 8.44% | 0.10% | 1.38% |
| Large Cap Equity | NYLIM VP MFS<sup>®</sup> Investors Trust—Initial <br> Class<br>*Adviser: New York Life Investments*<br>*Subadviser: Massachusetts Financial* <br> *Services Company ("MFS")*<br>| 0.75% | N/A | N/A | N/A |
| Large Cap Equity | NYLIM VP MFS<sup>®</sup> Research—Initial Class<br>*Adviser: New York Life Investments*<br>*Subadviser: MFS*<br>| 0.76% | N/A | N/A | N/A |
| Asset Allocation | NYLIM VP Moderate Allocation—Initial <br> Class<br>*Adviser: New York Life Investments*<br>| 0.58% | 11.30% | 5.62% | 6.88% |
| Sector | NYLIM VP Natural Resources—Initial Class <br>*Adviser: New York Life Investments*<br>*Subadviser: Newton Investment* <br> *Management North America, LLC ("NIMNA")*<br>| 0.85% | 15.20% | 17.27% | 10.88% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **1 Year** | **5 Year** | **10 Year** |
| Sector | NYLIM VP Newton Technology <br> Growth—Initial Class <br>*Adviser: New York Life Investments*<br>*Subadviser: NIMNA*<br>| 0.78%\* | N/A | N/A | N/A |
| Investment Grade Bond | NYLIM VP PIMCO Real Return—Initial <br> Class<br>*Adviser: New York Life Investments*<br>*Subadviser: Pacific Investment Management* <br> *Company LLC ("PIMCO")*<br>| 1.09%\* | 8.16% | 1.36% | 3.29% |
| International/Global <br> Equity<br>| NYLIM VP PineStone International <br> Equity—Initial Class<br>*Adviser: New York Life Investments*<br>*Subadviser: PineStone Asset Management* <br> *Inc.*<br>| 0.86% | 12.29% | 0.20% | 5.44% |
| Large Cap Equity | NYLIM VP S&P 500 Index—Initial Class<br>*Adviser: New York Life Investments*<br>| 0.12%\* | 17.72% | 14.28% | 14.63% |
| Small/Mid Cap Equity | NYLIM VP Schroders Mid Cap <br> Opportunities—Initial Class<br>*Adviser: New York Life Investments*<br>*Subadviser: Schroder Investment* <br> *Management North America*<br>| 0.83%\* | 7.27% | 5.05% | 7.39% |
| Small/Mid Cap Equity | NYLIM VP Small Cap Growth—Initial Class<br>*Adviser: New York Life Investments*<br>*Subadvisers: Brown Advisory, LLC and* <br> *Segall Bryant & Hamill, LLC*<br>| 0.86% | 4.89% | 1.64% | 8.95% |
| Money Market | NYLIM VP U.S. Government Money <br> Market—Initial Class<br>Adviser: New York Life Investments<br>Subadviser: *NYLI*<br>| 0.28%\* | 4.05% | 3.02% | 1.89% |
| Small/Mid Cap Equity | NYLIM VP Wellington Small Cap—Initial <br> Class<br>Adviser: New York Life Investments<br>Subadviser: *Wellington*<br>| 0.75%\* | 9.53% | 5.93% | 7.41% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **1 Year** | **5 Year** | **10 Year** |
| Large Cap Equity | NYLIM VP Winslow Large Cap <br> Growth—Initial Class<br>*Adviser: New York Life Investments*<br>*Subadviser: Winslow Capital Management,* <br> *Inc.*<br>| 0.75% | 14.35% | 12.69% | 16.14% |
| Small/Mid Cap Equity | AB VPS Discovery Value Portfolio—Class A <br>*Adviser: AllianceBernstein L.P. ("AB")*<br>| 0.82% | 2.89% | 8.75% | 8.55% |
| Large Cap Value | AB VPS Relative Value Portfolio—Class A<br>*Adviser: AB*<br>| 0.60%\* | 10.47% | 11.42% | 10.57% |
| Asset Allocation | American Funds<sup>®</sup> IS Asset Allocation <br> Fund—Class 2<br>*Adviser: Capital Research and Management* <br> *Company*<sup>SM</sup> *("CRMC")*<br>| 0.54% | 15.85% | 8.97% | 9.77% |
| Investment Grade Bond | American Funds<sup>®</sup> IS The Bond Fund of <br> America<sup>®</sup>—Class 2<br>*Adviser: CRMC*<br>| 0.47%\* | 7.26% | (0.14)% | 2.36% |
| Investment Grade Bond | American Funds<sup>®</sup> IS Capital World Bond <br> Fund<sup>®</sup>—Class 2<br>*Adviser: CRMC*<br>| 0.73% | 9.39% | (2.50)% | 1.23% |
| Large Cap Equity | American Funds<sup>®</sup> IS Growth Fund—Class 2<br>Adviser: *CRMC*<br>| 0.58% | 20.24% | 13.37% | 17.97% |
| Large Cap Equity | American Funds<sup>®</sup> IS Growth-Income <br> Fund—Class 2<br>Adviser: *CRMC*<br>| 0.53% | 18.06% | 13.90% | 13.92% |
| Sector | American Funds<sup>®</sup> IS New World <br> Fund<sup>®</sup>—Class 2<br>Adviser: *CRMC*<br>| 0.82%\* | 28.29% | 5.33% | 9.25% |
| International/Global <br> Equity<br>| American Funds<sup>®</sup> IS SMALLCAP World <br> Fund<sup>®</sup> (formerly American Funds<sup>®</sup> IS Global <br> Small Capitalization Fund)—Class 2<br>*Adviser: CRMC*<br>| 0.90%\* | 14.64% | 0.49% | 7.23% |
| Investment Grade Bond | American Funds<sup>®</sup> IS U.S. Government <br> Securities Fund<sup>®</sup>—Class 2<br>*Adviser: CRMC*<br>| 0.50%\* | 7.75% | (0.23)% | 1.70% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **1 Year** | **5 Year** | **10 Year** |
| Large Cap Equity | American Funds<sup>®</sup> IS Washington Mutual <br> Investors Fund—Class 2 <br>Adviser: *CRMC*<br>| 0.50%\* | 17.21% | 13.89% | 12.36% |
| Asset Allocation | BlackRock<sup>®</sup> Global Allocation V.I. <br> Fund—Class I<br>*Adviser: BlackRock Advisors, LLC* <br> *("BlackRock")*<br>*Subadviser: BlackRock (Singapore) Limited* <br> *and BlackRock International Limited*<br>| 0.76%\* | 19.80% | 5.79% | 7.59% |
| Non-Investment Grade <br> Bond<br>| BlackRock<sup>®</sup> High Yield V.I. Fund—Class I<br>*Adviser: BlackRock*<br>*Subadviser: BlackRock International Limited*<br>| 0.54%\* | 9.19% | 4.79% | 6.31% |
| Large Cap Equity | BNY Mellon Sustainable U.S. Equity <br> Portfolio—Initial Shares<br>*Adviser: BNY Mellon Investment Adviser,* <br> *Inc.*<br>*Subadviser: Newton Investment* <br> *Management Limited*<br>| 0.66% | 15.97% | 11.93% | 13.56% |
| Non-Investment Grade <br> Bond<br>| Columbia Variable Portfolio—Emerging <br> Markets Bond Fund—Class 1<br>*Adviser: Columbia Management Investment* <br> *Advisers, LLC ("Columbia")*<br>| 0.75%\* | 12.78% | 1.70% | 4.28% |
| Investment Grade Bond | Columbia Variable Portfolio—Intermediate <br> Bond Fund—Class 1<br>*Adviser: Columbia*<br>| 0.52% | 9.06% | (0.43)% | 2.77% |
| Investment Grade Bond | Columbia Variable Portfolio—Small <br> Company Growth Fund—Class 1<br>*Adviser: Columbia*<br>| 0.87%\* | 21.69% | 3.59% | 15.19% |
| Alternatives  | DWS Alternative Asset Allocation <br> VIP—Class A<br>*Adviser: DWS Investment Management* <br> *Americas Inc. ("DIMA")*<br>*Subadviser: RREEF America LLC*<br>| 0.93% | 10.50% | 5.29% | 4.89% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **1 Year** | **5 Year** | **10 Year** |
| Small/Mid Cap Equity | DWS Small Cap Index VIP—Class A<br>*Adviser: DIMA*<br>*Subadviser: Northern Trust Investments, Inc.*<br>| 0.37%\* | 12.64% | 5.84% | 9.33% |
| Small/Mid Cap Equity | DWS Small Mid Cap Value VIP—Class A<br>*Adviser: DIMA*<br>| 0.80%\* | 18.21% | 9.66% | 7.57% |
| Investment Grade Bond  | Fidelity<sup>®</sup> VIP Bond Index Portfolio—Initial <br> Class<br>*Adviser: Fidelity Management & Research* <br> *Company ("FMR")*<br>*Subadvisers: Other investment advisers*<br>| 0.14% | 6.98% | (0.57)% | N/A |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Contrafund<sup>SM</sup> Portfolio—Initial <br> Class<br>*Adviser: FMR*<br>*Subadvisers:* O*ther investment advisers*<br>| 0.54% | 21.52% | 15.37% | 15.78% |
| International/Global <br> Equity<br>| Fidelity<sup>®</sup> VIP Emerging Markets <br> Portfolio—Initial Class<br>*Adviser: FMR*<br>*Subadvisers: Other investment advisers*<br>| 0.87% | 41.20% | 5.88% | 10.93% |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Equity-Income <br> Portfolio<sup>SM</sup>—Initial Class<br>*Adviser: FMR*<br>*Subadvisers: Other investment advisers*<br>| 0.46% | 19.02% | 12.51% | 11.60% |
| Small/Mid Cap Equity | Fidelity<sup>®</sup> VIP Extended Market Index <br> Portfolio—Initial Class<br>*Adviser: FMR*<br>*Subadviser: Geode Capital Management,* <br> *LLC ("Geode")*<br>| 0.12% | 12.32% | 8.02% | N/A |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2020 <br> Portfolio<sup>SM</sup>—Initial Class<br>*Adviser: FMR*<br>| 0.44% | 13.33% | 4.84% | 7.38% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2030 <br> Portfolio<sup>SM</sup>—Initial Class<br>*Adviser: FMR*<br>| 0.49% | 15.52% | 6.25% | 8.88% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **1 Year** | **5 Year** | **10 Year** |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2040 <br> Portfolio<sup>SM</sup>—Initial Class<br>*Adviser: FMR*<br>| 0.57% | 18.79% | 9.01% | 10.87% |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Growth Opportunities <br> Portfolio—Initial Class<br>*Adviser: FMR*<br>*Subadvisers: Other investment advisers*<br>| 0.56% | 22.02% | 11.31% | 19.94% |
| Sector | Fidelity<sup>®</sup> VIP Health Care Portfolio—Initial <br> Class<br>*Adviser: FMR*<br>*Subadvisers: Other investment advisers*<br>| 0.59% | 14.39% | 4.18% | 8.75% |
| International/Global <br> Equity<br>| Fidelity<sup>®</sup> VIP International Capital <br> Appreciation Portfolio—Initial Class<br>*Adviser: FMR*<br>*Subadviser: FIL Investment Advisors*<br>| 0.78% | 18.69% | 6.26% | 9.81% |
| International/Global <br> Equity<br>| Fidelity<sup>®</sup> VIP International Index <br> Portfolio—Initial Class<br>*Adviser: FMR*<br>*Subadviser: Geode*<br>| 0.16% | 33.15% | 8.02% | N/A |
| Investment Grade Bond | Fidelity<sup>®</sup> VIP Investment Grade Bond <br> Portfolio—Initial Class<br>*Adviser: FMR*<br>*Subadvisers: Other investment advisers*<br>| 0.37% | 7.22% | 0.06% | 2.71% |
| Small/Mid Cap Equity | Fidelity<sup>®</sup> VIP Mid Cap Portfolio—Initial Class<br>*Adviser: FMR*<br>*Subadvisers: Other investment advisers*<br>| 0.55% | 11.75% | 10.10% | 10.59% |
| Sector | Franklin Gold and Precious Metals VIP <br> Fund—Class 1<br>*Adviser: Franklin Advisers, Inc. ("Franklin*")<br>| 0.70%\* | N/A | N/A | N/A |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **1 Year** | **5 Year** | **10 Year** |
| Asset Allocation | Franklin Templeton Aggressive Model <br> Portfolio—Class I<br>*Adviser: Franklin Templeton Fund Adviser,* <br> *LLC ("FTFA")*<br>*Subadviser: Franklin* <br>| 0.63% | 17.30% | 10.41% | N/A |
| Asset Allocation | Franklin Templeton Conservative Model <br> Portfolio—Class I<br>*Adviser: FTFA*<br>*Subadviser: Franklin*<br>| 0.60% | 9.39% | 2.92% | N/A |
| Asset Allocation | Franklin Templeton Moderate Model <br> Portfolio—Class I<br>*Adviser: FTFA*<br>*Subadviser: Franklin* <br>| 0.57% | 13.56% | 6.76% | N/A |
| Asset Allocation | Franklin Templeton Moderately Aggressive <br> Model Portfolio—Class I<br>*Adviser: FTFA*<br>*Subadviser: Franklin* <br>| 0.57% | 15.29% | 8.12% | N/A |
| Asset Allocation | Franklin Templeton Moderately Conservative <br> Model Portfolio—Class I <br>*Adviser: FTFA*<br>*Subadviser: Franklin* <br>| 0.57% | 11.76% | 5.17% | N/A |
| International/Global <br> Equity<br>| Goldman Sachs VIT International Equity <br> Insights Fund—Institutional Class<br>*Adviser: Goldman Sachs Asset* <br> *Management, L.P.*<br>| 0.81%\* | 38.48% | 11.08% | 8.23% |
| International/Global <br> Equity<br>| Invesco V.I. EQV International Equity <br> Fund—Series I Shares<br>*Adviser: Invesco Advisers, Inc. ("Invesco")*<br>| 0.90% | 16.50% | 3.68% | 6.22% |
| Small/Mid Cap Equity | Invesco V.I. Main Street Small Cap <br> Fund<sup>®</sup>—Series I Shares<br>*Adviser: Invesco*<br>| 0.84% | 8.70% | 8.34% | 10.59% |
| Small/Mid Cap Equity | Janus Henderson Enterprise <br> Portfolio—Institutional Shares<br>*Adviser: Janus* <br>| 0.72% | 7.67% | 7.62% | 12.79% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **1 Year** | **5 Year** | **10 Year** |
| International/Global <br> Equity<br>| Janus Henderson Global Research <br> Portfolio—Institutional Shares<br>*Adviser: Janus*<br>| 0.82% | 20.92% | 12.51% | 12.93% |
| Investment Grade Bond | Lord Abbett Series Fund, Inc.—Short <br> Duration Income Portfolio—Class I<br>*Adviser: Lord, Abbett & Co. LLC*<br>| 0.47%\* | N/A | N/A | N/A |
| Large Cap Equity | LVIP ClearBridge Appreciation <br> Fund—Standard Class (formerly <br> ClearBridge Variable Appreciation <br> Portfolio—Class I)<br>*Adviser: Lincoln Financial Investments* <br> *Corporation ("LFIC")*<br>*Subadviser: ClearBridge Investments, LLC*<br>| 0.70%\* | 14.50% | 12.72% | 13.34% |
| Small/Mid Cap Equity | LVIP SSgA Mid-Cap Index Fund—Standard <br> Class<br>*Adviser: LFIC*<br>*Subadviser: SSgA Funds Management, Inc.*<br>| 0.35%\* | 13.55% | 9.94% | 9.31% |
| International Equity | MFS<sup>®</sup> International Intrinsic Equity Portfolio <br> (formerly MFS<sup>®</sup> International Intrinsic Value <br> Portfolio)—Initial Class<br>*Adviser: MFS*<br>| 0.89%\* | 33.26% | 7.28% | 9.95% |
| Mid Cap Equity | MFS<sup>®</sup> Mid Cap Value Portfolio—Initial Class<br>*Adviser: MFS*<br>| 0.79%\* | 5.98% | 10.18% | 9.95% |
| Small/Mid Cap Equity | MFS<sup>®</sup> New Discovery Series—Initial Class<br>*Adviser: MFS*<br>| 0.87%\* | 12.96% | (0.28)% | 10.74% |
| Foreign Large Blend | MFS<sup>®</sup> Research International <br> Portfolio—Initial Class<br>*Adviser: MFS*<br>| 0.90%\* | 22.05% | 5.51% | 7.54% |
| Small/Mid Cap Equity | Neuberger Berman AMT Mid Cap Growth <br> Portfolio—Class I<br>*Adviser: Neuberger Berman Investment* <br> *Advisers LLC*<br>| 0.86%\* | 5.45% | 4.47% | 10.96% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **1 Year** | **5 Year** | **10 Year** |
| International/Global <br> Equity<br>| Nomura VIP Emerging Markets Series <br> (formerly Macquarie VIP Emerging Markets <br> Series)—Standard Class<br>*Adviser: Delaware Management Company, a* <br> *series of Nomura Investment Management* <br> *Business Trust*<br>| 1.16%\* | 81.26% | 8.81% | 12.17% |
| Small/Mid Cap Equity | Nomura VIP Small Cap Value Series <br> (formerly Macquarie VIP Small Cap Value <br> Series)—Standard Class <br>*Adviser*: *Delaware Management Company, a* <br> *series of Nomura Investment Management* <br> *Business Trust*<br>| 0.74% | 8.16% | 9.26% | 9.15% |
| Investment Grade Bond | PIMCO VIT Income Portfolio—Institutional <br> Class<br>*Adviser: PIMCO*<br>| 0.77% | 10.36% | 3.57% | N/A |
| Investment Grade Bond | PIMCO VIT International Bond Portfolio <br> (U.S. Dollar-Hedged)—Institutional Class<br>*Adviser: PIMCO*<br>| 0.94% | 4.10% | 1.18% | 3.04% |
| Investment Grade Bond | PIMCO VIT Low Duration <br> Portfolio—Institutional Class<br>*Adviser: PIMCO*<br>| 0.51% | 5.68% | 1.72% | 1.94% |
| Investment Grade Bond | PIMCO VIT Short-Term <br> Portfolio—Institutional Class<br>*Adviser: PIMCO*<br>| 0.50% | 4.83% | 3.40% | 2.91% |
| Investment Grade Bond | PIMCO VIT Total Return <br> Portfolio—Institutional Class<br>*Adviser: PIMCO*<br>| 0.58% | 9.05% | 0.16% | 2.51% |
| Sector | Principal VC Real Estate Securities <br> Account—Class 1<br>*Adviser: Principal Global Investors, LLC*<br>*Subadviser: Principal Real Estate Investors,* <br> *LLC*<br>| 0.78% | 1.24% | 4.88% | 5.94% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Portfolio Type** | **Portfolio and Adviser/Subadviser** | **Current**<br> **Expenses** | **1 Year** | **5 Year** | **10 Year** |
| International/Global <br> Equity<br>| Putnam VT International Value Fund—Class <br> IA<br>*Adviser: Putnam Investment Management,* <br> *LLC*<br>*Subadvisers: Franklin, Franklin Templeton* <br> *Investment Management Limited and The* <br> *Putnam Advisory Company, LLC*<br>| 0.81% | 35.07% | 12.77% | 9.13% |
| Large Cap Equity | Voya Growth and Income Portfolio—Class I<br>*Adviser: Voya Investments, LLC* <br>*Subadviser: Voya Investment Management* <br> *Co. LLC ("Voya")*<br>| 0.67%\* | 18.21% | 15.46% | 14.62% |
| Investment Grade Bond | Voya Intermediate Bond Portfolio — Class I<br>*Adviser: Voya*<br>| 0.55%\* | 7.71% | 0.15% | 2.66% |
| Investment Grade Bond | Western Asset Core Plus VIT <br> Portfolio—Class I\*\*<br>*Adviser: FTFA*<br>*Subadvisers: Western Asset Management* <br> *Company, LLC; Western Asset Management* <br> *Company Limited; Western Asset* <br> *Management Company Ltd.; and Western* <br> *Asset Management Company Pte. Ltd.*<br>| 0.54%\* | 7.75% | (1.44)% | 2.11% |

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\*

Current Expenses take into account expense reimbursement or fee waiver arrangements in place that are generally expected to continue through April 30, 2027 and may be terminated at any time at the option of the Fund. Annual expenses for the Eligible Portfolios for the year ended December 31, 2025, reflect temporary fee reductions under such an arrangement.

\*\*

Premiums or transfers will only be accepted into this fund from policyowners already invested in this fund. Policyowners who remove all Cash Value allocations from this fund will not be permitted to reinvest in this fund.

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**Obtaining Additional Information**

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The Statement of Additional Information ("SAI") contains additional information about the Market Wealth Plus policy, including information about compensation arrangements. The SAI is available without charge upon request. You can request a paper copy of the SAI by mail (at the VPSC at one of the addresses listed on the first page of this prospectus or any other address we indicate to you in writing). The SAI is also posted at the following website, https://dfinview.com/NewYorkLife/TAHD/marketwealthplus. You can also request a copy of the SAI, request other information about the policies, and make inquiries by phone by calling our toll-free number (1-800-598-2019). The current SAI is incorporated by reference into this prospectus and has been filed with the SEC.

Information about the Market Wealth Plus policy (including the SAI) can be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling the SEC at 202-942-8090. Reports and other information about the policy are available on the SEC's internet site at http://www.sec.gov. Copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

For a personalized illustration or additional information about your policy, contact your registered representative or call our toll-free number (1-800-598-2019).

The SEC EDGAR Contract Identifier for the Market Wealth Plus policy is C000236402.

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