# EDGAR Filing Document

**Accession Number:** 0001209501
**File Stem:** 0001193125-26-152457
**Filing Date:** 2026-4
**Character Count:** 2864675
**Document Hash:** db1ea17925c03cbcd87d82bc2de4746f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-152457.hdr.sgml**: 20260413

**ACCESSION NUMBER**: 0001193125-26-152457

**CONFORMED SUBMISSION TYPE**: 485BPOS

**PUBLIC DOCUMENT COUNT**: 18

**FILED AS OF DATE**: 20260413

**DATE AS OF CHANGE**: 20260413

**EFFECTIVENESS DATE**: 20260501

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NYLIAC VARIABLE ANNUITY SEPARATE ACCOUNT IV
- **CENTRAL INDEX KEY:** 0001209501

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

**FILING VALUES:**
- **FORM TYPE:** 485BPOS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21397
- **FILM NUMBER:** 26857206

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **STREET 2:** ATTENTION:  LISA DENAUT
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 914-846-3146

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **STREET 2:** ATTENTION:  LISA DENAUT
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NYLIAC VARIABLE ANNUITY SEPARATE ACCOUNT IV
- **CENTRAL INDEX KEY:** 0001209501

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

**FILING VALUES:**
- **FORM TYPE:** 485BPOS
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-156019
- **FILM NUMBER:** 26857205

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **STREET 2:** ATTENTION:  LISA DENAUT
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 914-846-3146

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **STREET 2:** ATTENTION:  LISA DENAUT
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

## Series and Classes Contracts Data

### NYLIAC VARIABLE ANNUITY SEPARATE ACCOUNT IV (Series ID: S000009386)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000074528 | New York Life Premier Plus Variable Annuity    |  |
| C000074529 | New York Life Premier Variable Annuity         |  |
| C000154615 | New York Life Premier Variable Annuity II      |  |
| C000154616 | New York Life Premier Plus Variable Annuity II |  |

?xml version='1.0' encoding='ASCII'? NYLIAC VARIABLE ANNUITY SEPARATE ACCOUNT IV

Registration filing date:

Registration No. 333-156019

April 13, 2026

811-21397

------

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549**

------

---

| | |
|:---|:---|
| **Form N-4** |  |
| **REGISTRATION STATEMENT** |  |
| ***UNDER***<br> ***THE SECURITIES ACT OF 1933***<br>|  |
| **Post-Effective Amendment No. 33** | ☒  |
| **and** |  |
| **REGISTRATION STATEMENT** |  |
| ***UNDER***<br> ***THE INVESTMENT COMPANY ACT OF 1940***<br>|  |
| **Amendment No. 107** | ☒  |

---

------

**NYLIAC VARIABLE ANNUITY SEPARATE ACCOUNT-IV** 

**(Exact Name of Registered Separate Account)**

------

**NEW YORK LIFE INSURANCE AND**

**ANNUITY CORPORATION** 

(Name of Insurance Company)

**51 Madison Avenue**

**New York, New York 10010** 

(Address of Insurance Company's Principal Executive Office) (Zip Code)

**Insurance Company's Telephone Number: (212) 576-7000** 

**Haroula Ballas, Esq.**

**New York Life Insurance and Annuity Corporation**

**44 S. Broadway** 

**White Plains, NY 10601** 

(Name and Address of Agent for Service)

------

**Copy to: Charles A. Whites, Jr., Esq.**

**Vice President and Associate General Counsel**

**New York Life Insurance Company**

**51 Madison Avenue**

**New York, NY 10010**

------

---

| | |
|:---|:---|
| Approximate Date of Proposed Public Offering: Continuous | Approximate Date of Proposed Public Offering: Continuous |
| It is proposed that this filing will become effective (check appropriate box) | It is proposed that this filing will become effective (check appropriate box) |
| ☐  | immediately upon filing pursuant to paragraph (b) of Rule 485. |
| ☒  | on May 1, 2026 pursuant to paragraph (b) of Rule 485. |
| ☐  | 60 days after filing pursuant to paragraph (a)(1) of Rule 485. |
| ☐  | on (date) pursuant to paragraph (a)(1) of Rule 485 under the Securities Act of 1933 ("Securities Act"). |
| If appropriate, check the following box: | If appropriate, check the following box: |
| ☐  | This post-effective amendment designates a new effectiveness date for a previously filed post-effective amendment. |

---

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

------

---

| | |
|:---|:---|
| Check each box that appropriately characterizes the Registered Separate Account: | Check each box that appropriately characterizes the Registered Separate Account: |
| ☐  | New Registrant (as applicable, a Registered Separate Account or Insurance Company that has not filed a Securities <br> Act registration statement or amendment thereto within the 3 years preceding this filing)<br>|
| ☐  | Emerging Growth Company (as defined by Rule 12b-2 under the Securities Exchange Act of 1934 ("Exchange Act")) |
| ☐  | If an Emerging Growth Company, indicate by check mark if the Registrant has elected not to use the extended <br> transition period for complying with any new or revised financial accounting standards provided pursuant to <br> Section 7(a)(2)(B) of the Securities Act<br>|
| ☒  | Insurance Company relying on Rule 12h-7 under the Exchange Act |
| ☐  | Smaller reporting company (as defined by Rule 12b-2 under the Exchange Act) |

---

Title of Securities Being Registered:

Units of interest in a separate account under a variable annuity contract.

------

**PROSPECTUS Dated May 1, 2026** 

**for** 

**New York Life Premier Variable Annuity** 

**From** 

**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**(a Delaware Corporation)**

**51 Madison Avenue, New York, New York 10010** 

**Investing in** 

**NYLIAC Variable Annuity Separate Account-III**

**NYLIAC Variable Annuity Separate Account-IV** 

This Prospectus describes the individual flexible premium New York Life Premier Variable Annuity policies issued by New York Life Insurance and Annuity Corporation (NYLIAC). We have discontinued sales of new policies, but we still accept new premium payments for in–force policies (except for the single premium version). The policies offer flexible premium payments, access to your money through partial withdrawals (some withdrawals may be subject to a surrender charge, federal and state income taxes, and/or a 10% federal penalty tax if withdrawn before age 59½), a choice of when Income Payments commence, and a guaranteed death benefit if the Owner dies before Income Payments have commenced. NYLIAC's obligations under the policies are subject to its financial strength and claims-paying ability. Please note that your policy may vary depending on your state. Any material variations are disclosed in the prospectus or in APPENDIX 3 – State Variations.

NYLIAC offered an individual single premium version of the policies in some states. APPENDIX 1 of this Prospectus modifies the May 1, 2026 Prospectus for the policies to describe the single premium version of the policies. The principal difference between the single premium version and the flexible premium version of the policies is that under the single premium policies you can only make one premium payment.

**The Securities and Exchange Commission (SEC) has not approved or disapproved these securities or passed upon the adequacy or accuracy of this Prospectus. Any representation to the contrary is a criminal offense.** 

**The policies are complex investments and involve risks, including potential loss of principal invested. The policies are not short-term investments and are not appropriate for investors who plan or need ready access to withdrawals as some withdrawals could result in surrender charges, taxes and tax penalties, as applicable. The policies are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not federally insured by the FDIC, the Federal Reserve Board, or any other agency.** Additional information about certain investment products, including variable annuities, has been prepared by the SEC staff and is available at www.Investor.gov.

Your premium payments accumulate on a tax–deferred basis. This means your earnings are not taxed until you take money out of your policy, which can be done in several ways. You can invest your premium payments among a Fixed Account, the Dollar Cost Averaging Advantage Account, and up to 18 separate Investment Divisions. Each Investment Division invests exclusively in the shares of a specified corresponding portfolio ("Portfolio"). The Portfolios and the fixed options are listed in **APPENDIX 2A**.

The Fixed Account is not available for policies issued in the State of New York.

**We do not guarantee the investment performance of the Investment Divisions. Depending on current market conditions, you can make or lose money in any of the Investment Divisions.**

------

**Table of Contents** 

---

| | |
|:---|:---|
|  | **Page** |
| **[Definitions](#xx_dccf4864-ef52-4f7f-b107-bc86d6052266_1)** | &nbsp;&nbsp; 1 |
| **[Overview Of The Policy](#xx_b894d338-145c-4046-8546-d0dbb4efede8_1)** | &nbsp;&nbsp; 5 |
| **[Important Information You Should Consider](#xx_fc3b05b6-1b79-43fd-8f38-705b69e1f6f6_1)**<br> **[About The Policy](#xx_fc3b05b6-1b79-43fd-8f38-705b69e1f6f6_1)**<br>| &nbsp;&nbsp; 8 |
| **[Fee Table](#xx_f7e8cdb8-1e22-4496-938d-09468babfb3a_1)** | &nbsp;&nbsp; 12 |
| **[Principal Risks of Investing in the Policy](#xx_a9c01e88-4a10-4674-b70a-496bb48b89d3_1)** | &nbsp;&nbsp; 19 |
| **[Contacting NYLIAC](#xx_540bbecb-4bda-49c7-ab9e-e8be7f8be22b_1)** | &nbsp;&nbsp; 22 |
| **[NYLIAC And The Separate Accounts](#xx_d05f8b23-58e5-4431-af24-6b1ed61048da_1)** | &nbsp;&nbsp; 24 |
| [New York Life Insurance and Annuity](#xx_d05f8b23-58e5-4431-af24-6b1ed61048da_1)<br> [Corporation](#xx_d05f8b23-58e5-4431-af24-6b1ed61048da_1)<br>| &nbsp;&nbsp; 24 |
| [The Separate Accounts](#xx_d05f8b23-58e5-4431-af24-6b1ed61048da_1) | &nbsp;&nbsp; 24 |
| [The Portfolios](#xx_d05f8b23-58e5-4431-af24-6b1ed61048da_1) | &nbsp;&nbsp; 24 |
| [Additions, Deletions, or Substitutions of](#xx_d05f8b23-58e5-4431-af24-6b1ed61048da_5)<br> [Investments](#xx_d05f8b23-58e5-4431-af24-6b1ed61048da_5)<br>| &nbsp;&nbsp; 28 |
| [Reinvestment](#xx_d05f8b23-58e5-4431-af24-6b1ed61048da_6) | &nbsp;&nbsp; 29 |
| **[The Policies](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_1)** | &nbsp;&nbsp; 30 |
| [Selecting the Variable Annuity That's Right for](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_1)<br> [You](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_1)<br>| &nbsp;&nbsp; 30 |
| [Qualified and Non-Qualified Policies](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_2) | &nbsp;&nbsp; 31 |
| [Policy Application and Premium Payments](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_2) | &nbsp;&nbsp; 31 |
| [Accumulation (Savings) Phase](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_3) | &nbsp;&nbsp; 32 |
| [Crediting of Premium Payments](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_3) | &nbsp;&nbsp; 32 |
| [Valuation of Accumulation Units](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_4) | &nbsp;&nbsp; 33 |
| [Tax-Free Section 1035 Exchanges](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_4) | &nbsp;&nbsp; 33 |
| [Your Right to Cancel ("Free Look")](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_4) | &nbsp;&nbsp; 33 |
| [Issue Ages](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_4) | &nbsp;&nbsp; 33 |
| [Transfers](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_5) | &nbsp;&nbsp; 34 |
| [Limits on Transfers](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_6) | &nbsp;&nbsp; 35 |
| [Speculative Investing](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_7) | &nbsp;&nbsp; 36 |
| [Online Service at www.newyorklife.com and](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_7)<br> [through the New York Life Mobile](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_7)<br> [Application](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_7)<br>| &nbsp;&nbsp; 36 |
| [Telephone Transactions](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_8) | &nbsp;&nbsp; 37 |
| [Third Party and Registered Representative](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_9)<br> [Actions](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_9)<br>| &nbsp;&nbsp; 38 |
| [Electronic Delivery](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_9) | &nbsp;&nbsp; 38 |
| **[Records and Reports](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_10)** | &nbsp;&nbsp; 39 |
| [Designation of Beneficiary](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_10) | &nbsp;&nbsp; 39 |
| [Delay of Payments](#xx_5b302410-bcb3-408f-9b4a-805230e926d8_11) | &nbsp;&nbsp; 40 |
| **[Benefits Available Under The Policies](#xx_3dfc639e-2033-40da-a8f9-3d882a190d08_1)** | &nbsp;&nbsp; 41 |
| **[Description of Benefits](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_1)** | &nbsp;&nbsp; 50 |
| [The Standard Death Benefit – Death Before](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_1)<br> [Annuity Commencement](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_1)<br>| &nbsp;&nbsp; 50 |
| [Annual Death Benefit Reset Rider](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_2) | &nbsp;&nbsp; 51 |

---

---

| | |
|:---|:---|
|  | **Page** |
| [Enhanced Beneficiary Benefit Rider](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_4) | &nbsp;&nbsp; 53 |
| [Enhanced Spousal Continuance Rider](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_6) | &nbsp;&nbsp; 55 |
| [Investment Protection Plan Rider](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_6) | &nbsp;&nbsp; 55 |
| [Investment Protection Plan II Rider](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_9) | &nbsp;&nbsp; 58 |
| [Guaranteed Investment Protection Rider](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_11) | &nbsp;&nbsp; 60 |
| [Guaranteed Investment Protection Rider 2.0](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_13) | &nbsp;&nbsp; 62 |
| [GIPR 2.0 Death Benefit](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_16) | &nbsp;&nbsp; 65 |
| [Living Needs Benefit/Unemployment Rider](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_16) | &nbsp;&nbsp; 65 |
| [Living Needs Benefit Rider](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_17) | &nbsp;&nbsp; 66 |
| [Unemployment Benefit Rider](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_17) | &nbsp;&nbsp; 66 |
| [Breakpoint Credit Rider (available only for](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_18)<br> [policies purchased before July 1, 2013)](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_18)<br>| &nbsp;&nbsp; 67 |
| [Automatic Asset Reallocation](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_18) | &nbsp;&nbsp; 67 |
| [Dollar Cost Averaging Programs](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_19) | &nbsp;&nbsp; 68 |
| [Traditional Dollar Cost Averaging (not](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_20)<br> [available with the IPP, IPP II, GIPR and](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_20)<br> [GIPR 2.0 Riders)](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_20)<br>| &nbsp;&nbsp; 69 |
| [The DCA Advantage Account](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_21) | &nbsp;&nbsp; 70 |
| [Interest Sweep](#xx_798131c8-9f3a-4aad-ac59-43d9b3a4d802_22) | &nbsp;&nbsp; 71 |
| **[Charges And Deductions](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_1)** | &nbsp;&nbsp; 72 |
| [Transaction Expenses](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_1) | &nbsp;&nbsp; 72 |
| [Surrender Charges](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_1) | &nbsp;&nbsp; 72 |
| [Amount of Surrender Charge](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_1) | &nbsp;&nbsp; 72 |
| [Exceptions to Surrender Charges](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_1) | &nbsp;&nbsp; 72 |
| [Transfer Fees](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_2) | &nbsp;&nbsp; 73 |
| [Payments Returned for Insufficient Funds](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_2) | &nbsp;&nbsp; 73 |
| [Annual Policy Expenses](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_2) | &nbsp;&nbsp; 73 |
| [Base Contract Charges (M&E Charge)](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_2) | &nbsp;&nbsp; 73 |
| [Administrative Expense – Policy Service](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_3)<br> [Charge](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_3)<br>| &nbsp;&nbsp; 74 |
| [Optional Benefit Expenses](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_3) | &nbsp;&nbsp; 74 |
| [Investment Protection Plan Rider Charge](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_3) | &nbsp;&nbsp; 74 |
| [Investment Protection Plan II Rider Charge](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_4) | &nbsp;&nbsp; 75 |
| [Guaranteed Investment Protection Rider](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_4)<br> [Charge](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_4)<br>| &nbsp;&nbsp; 75 |
| [Guaranteed Investment Protection Rider 2.0](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_4)<br> [Charge](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_4)<br>| &nbsp;&nbsp; 75 |
| [Investment Protection Plan Riders Risk](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_5)<br> [Charge Adjustment (Cancellation](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_5)<br> [Charge)](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_5)<br>| &nbsp;&nbsp; 76 |
| [Enhanced Beneficiary Benefit Rider Charge](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_5) | &nbsp;&nbsp; 76 |
| [Annual Death Benefit Reset (ADBR) Rider](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_5)<br> [Charge](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_5)<br>| &nbsp;&nbsp; 76<br>|

---

i

------

---

| | |
|:---|:---|
|  | **Page** |
| [Investment Protection Plan Rider/Annual](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_6)<br> [Death Benefit Reset Rider Package](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_6)<br> [Charge](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_6)<br>| &nbsp;&nbsp; 77 |
| [Investment Protection Plan II Rider/Annual](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_6)<br> [Death Benefit Reset Rider Package](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_6)<br> [Charge](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_6)<br>| &nbsp;&nbsp; 77 |
| [Guaranteed Investment Protection](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_6)<br> [Rider/Annual Death Benefit Reset Rider](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_6)<br> [Package Charge](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_6)<br>| &nbsp;&nbsp; 77 |
| [Guaranteed Investment Protection Rider](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_6)<br> [2.0/Annual Death Benefit Reset Rider](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_6)<br> [Package Charge](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_6)<br>| &nbsp;&nbsp; 77 |
| [Annual Portfolio Expenses](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_6) | &nbsp;&nbsp; 77 |
| [Group and Sponsored Arrangements](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_7) | &nbsp;&nbsp; 78 |
| [Taxes](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_7) | &nbsp;&nbsp; 78 |
| **[Distributions Under The Policy](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_7)** | &nbsp;&nbsp; 78 |
| [Surrenders and Withdrawals](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_7) | &nbsp;&nbsp; 78 |
| [Surrenders](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_8) | &nbsp;&nbsp; 79 |
| [Partial Withdrawals](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_8) | &nbsp;&nbsp; 79 |
| [Periodic Partial Withdrawals](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_9) | &nbsp;&nbsp; 80 |
| [Hardship Withdrawals](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_9) | &nbsp;&nbsp; 80 |
| [Required Minimum Distributions](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_9) | &nbsp;&nbsp; 80 |
| [Our Right to Cancel](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_10) | &nbsp;&nbsp; 81 |
| [Restrictions Under Code Section 403(b)(11)](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_10) | &nbsp;&nbsp; 81 |
| [Loans](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_10) | &nbsp;&nbsp; 81 |
| **[Annuity Payments (The Income Phase)](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_12)** | &nbsp;&nbsp; 83 |
| [Annuity Commencement Date](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_12) | &nbsp;&nbsp; 83 |
| [Income Payments](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_12) | &nbsp;&nbsp; 83 |
| [Election of Income Payment Options](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_12) | &nbsp;&nbsp; 83 |
| [Proof of Survivorship](#xx_cfe591e7-7777-4eb9-a86e-905da52b432d_13) | &nbsp;&nbsp; 84 |
| **[The Fixed Account](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_1)** | &nbsp;&nbsp; 85 |
| [Interest Crediting](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_1) | &nbsp;&nbsp; 85 |
| [Transfers Between the Fixed Account and](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_1)<br> [Investment Divisions or an Asset](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_1)<br> [Allocation Model](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_1)<br>| &nbsp;&nbsp; 85 |
| **[The DCA Advantage Account](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_2)** | &nbsp;&nbsp; 86 |
| **[Federal Tax Matters](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_3)** | &nbsp;&nbsp; 87 |

---

---

| | |
|:---|:---|
|  | **Page** |
| [Introduction](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_3) | &nbsp;&nbsp; 87 |
| [Taxation of Annuities in General](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_3) | &nbsp;&nbsp; 87 |
| [3.8 Percent Tax on Certain Investment Income](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_4) | &nbsp;&nbsp; 88 |
| [Partial Section 1035 Exchanges](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_4) | &nbsp;&nbsp; 88 |
| [Qualified Policies](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_5) | &nbsp;&nbsp; 89 |
| [(a) 403(b) Plans.](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_5) | &nbsp;&nbsp; 89 |
| [(b) Individual Retirement Annuities.](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_6) | &nbsp;&nbsp; 90 |
| [(c) Roth Individual Retirement Annuities.](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_6) | &nbsp;&nbsp; 90 |
| [(d) Inherited IRAs.](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_6) | &nbsp;&nbsp; 90 |
| [(e) SIMPLE IRAs.](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_7) | &nbsp;&nbsp; 91 |
| [Taxation of Death Benefits](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_7) | &nbsp;&nbsp; 91 |
| **[Distribution and Compensation](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_7)**<br> **[Arrangements](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_7)**<br>| &nbsp;&nbsp; 91 |
| **[Additional Information about Risks](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_8)** | &nbsp;&nbsp; 92 |
| [Information System Failures and Cybersecurity](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_8)<br> [Risks](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_8)<br>| &nbsp;&nbsp; 92 |
| [Risks from Serious Infectious Disease](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_9)<br> [Outbreaks](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_9)<br>| &nbsp;&nbsp; 93 |
| **[Legal Proceedings](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_9)** | &nbsp;&nbsp; 93 |
| **[Voting Rights](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_10)** | &nbsp;&nbsp; 94 |
| **[Financial Statements](#xx_214607c0-9e3f-46d6-95a2-cdc26e0699b2_10)** | &nbsp;&nbsp; 94 |
| [Appendix](#xx_dc0cd607-723e-4861-88be-eb266b9b03bf_1)[1](#xx_dc0cd607-723e-4861-88be-eb266b9b03bf_1) | &nbsp;&nbsp; 1<br> -1<br>|
| [I. SINGLE PREMIUM ONLY](#xx_dc0cd607-723e-4861-88be-eb266b9b03bf_1) | &nbsp;&nbsp; 1<br> -1<br>|
| [II. MAINTENANCE OF POLICY VALUE](#xx_dc0cd607-723e-4861-88be-eb266b9b03bf_1) | &nbsp;&nbsp; 1<br> -1<br>|
| [Appendix](#xx_30a27fdf-4832-4dd5-aee3-ea4acdf96a3a_1)[2A](#xx_30a27fdf-4832-4dd5-aee3-ea4acdf96a3a_1) | &nbsp;&nbsp; 2A<br> -1<br>|
| [Investment Options Available Under the Policy](#xx_30a27fdf-4832-4dd5-aee3-ea4acdf96a3a_1) | &nbsp;&nbsp; 2A<br> -1<br>|
| [Appendix](#xx_39a9951c-adca-46b2-8e88-dcd5504ddbb6_1)[2b](#xx_39a9951c-adca-46b2-8e88-dcd5504ddbb6_1) | &nbsp;&nbsp; 2b<br> -1<br>|
| [Allocation Options available with IPP and IPP](#xx_39a9951c-adca-46b2-8e88-dcd5504ddbb6_1)<br> [II](#xx_39a9951c-adca-46b2-8e88-dcd5504ddbb6_1)<br>| &nbsp;&nbsp; 2b<br> -1<br>|
| [Appendix](#xx_f54a9e87-6f12-45c5-9ef3-f7dbd4bf8282_1)[2c](#xx_f54a9e87-6f12-45c5-9ef3-f7dbd4bf8282_1) | &nbsp;&nbsp; 2c<br> -1<br>|
| [Investment Divisions, Model Portfolios and](#xx_f54a9e87-6f12-45c5-9ef3-f7dbd4bf8282_1)<br> [Asset Allocation Models available with GIPR](#xx_f54a9e87-6f12-45c5-9ef3-f7dbd4bf8282_1)<br> [and GIPR 2.0](#xx_f54a9e87-6f12-45c5-9ef3-f7dbd4bf8282_1)<br>| &nbsp;&nbsp; 2c<br> -1<br>|
| [Appendix](#xx_c99885d0-4dee-4c7f-8778-5bb2347e3ea3_1)[3](#xx_c99885d0-4dee-4c7f-8778-5bb2347e3ea3_1) | &nbsp;&nbsp; 3<br> -1<br>|
| [State Variations](#xx_c99885d0-4dee-4c7f-8778-5bb2347e3ea3_1) | &nbsp;&nbsp; 3<br> -1 <br>|

---

ii

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**Definitions**

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**Accumulation Unit—** An accounting unit we use to calculate the Variable Accumulation Value prior to the Annuity Commencement Date. Each Investment Division of the Separate Account has a distinct variable Accumulation Unit value.

**Accumulation Value—** The sum of the Variable Accumulation Value, the Fixed Account Accumulation Value (if applicable), and the DCA Advantage Account Accumulation Value of a policy.

**ADBR—** Annual Death Benefit Reset Rider.

**ADBR Reset Value—** On the First Policy Anniversary, the ADBR Reset Value is the greater of (a) the Accumulation Value on the first Policy Anniversary or (b) the Return of Premium Death Benefit. The ADBR Reset Value on the second and each subsequent Reset Anniversary is defined as the greater of (a) the Accumulation Value on the current Reset Anniversary or (b) the Reset Value on the prior Reset Anniversary, plus any premium payments applied since the prior Reset Anniversary, less any ADBR Reset Value Proportional Reductions since the prior Reset Anniversary.

**ADBR Reset Value Proportional Reduction—** An amount equal to the amount withdrawn from the policy after the first policy anniversary (including applicable surrender charges), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the ADBR Reset Value immediately preceding the withdrawal.

**Adjusted Death Benefit Premium Payments—** The total dollar amount of premium payments made under this Policy reduced by any Adjusted Death Benefit Premium Payment Proportional Withdrawals.

**Adjusted Death Benefit Premium Payment Proportional Withdrawal—** An amount equal to the amount withdrawn from this Policy (including any amount withdrawn that may include surrender charges), divided by this Policy's Accumulation Value immediately preceding the withdrawal, multiplied by the Adjusted Death Benefit Premium Payments immediately preceding the withdrawal.

**Adjusted Premium Payment—** The total dollar amount of premium payments made under the policy and allocated to the Investment Divisions and DCA Advantage Account reduced by any withdrawals and applicable surrender charges in excess of any gain in the policy. The definition is different for policies issued in New York (see APPENDIX 3—State Variations for more information).

**Allocation Options—** The Investment Divisions of the Separate Account, any available Asset Allocation Model and the Fixed Account (including the DCA Advantage Account).

**Annuitant—** The person named on the Policy Data Page and whose life determines the Income Payments.

**Annuity Commencement Date—** The date on which we are to make the first Income Payment under the policy, which cannot be later than the date you attain age 95.

**Asset Allocation Category(ies)—** A group of Investment Divisions of the Separate Account categorized based on investment risk determined by NYLIAC.

**Asset Allocation Model—** A model portfolio comprised of Investment Divisions of the Separate Account. The Asset Allocation Models are no longer available for new investment. The Asset Allocation Model program was discontinued as of May 1, 2020.

**Base Contract Charge—** Mortality and Expense Risk and Administrative Costs Charge (M&E Charge).

**Beneficiary or beneficiary—** The person or entity having the right to receive the death benefit proceeds set forth in the policy and who is the "designated beneficiary" for purposes of Section 72 of the Code (as defined below).

**Business Day—** Generally, any day on which the New York Stock Exchange (NYSE) is open for trading. Our Business Day ends at 4:00 p.m. Eastern Time or the close of regular trading of the NYSE, if earlier.

**Code—** The Internal Revenue Code of 1986, as amended.

**Consideration—** A premium payment, or a portion thereof and/or, if allowable, a transfer amount from an Investment Division to the Fixed Account.

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**Dollar Cost Averaging (DCA) Advantage Account Accumulation Value—** The sum of premium payments and Breakpoint Credits allocated to the DCA Advantage Account, plus interest credited on those premium payments and Breakpoint Credits, less any transfers and partial withdrawals from the DCA Advantage Account, and less any surrender charges and policy service charges that may already have been deducted from the DCA Advantage Account. The DCA Advantage Account Accumulation Value will never be less than the DCA Advantage Account portion of the Nonforfeiture Value.

**Dollar Cost Averaging (DCA) Advantage Account—** An non-variable Allocation Option to which you may allocate Premium Payments, subject to the limitations described on the Policy Data Page, and from which amounts are transferred to the Investment Divisions proportionally on a monthly basis. The DCA Advantage Account duration is shown on the Policy Data Page. We credit the DCA Advantage Account with a fixed interest rate. The benefits payable under the DCA Advantage Account (including principal and interest) are payable from NYLIAC's general account and are subject to the claims-paying ability of NYLIAC.

**EBB—** Enhanced Beneficiary Benefit.

**Eligible Designated Beneficiary—** Eligible Designated Beneficiaries include spouses, minor children (until they reach the age of majority), someone who is disabled or chronically ill (including certain trusts for the disabled or chronically ill), or an individual not more than 10 years younger than the original IRA owner or plan participant.

**Fixed Account—** An account that is credited with a fixed interest rate which NYLIAC declares and is not part of the Separate Account. The benefits payable under the Fixed Account (including principal and interest) are payable from NYLIAC's general account and are subject to the claims-paying ability of NYLIAC.

**Fixed Account Accumulation Value—** The sum of premium payments and Breakpoint Credits and, if allowable, transfers allocated to the Fixed Account, plus interest credited on those premium payments and Breakpoint Credits and, if allowable, transfers, less any transfers and partial withdrawals from the Fixed Account, and less any surrender charges and policy service charges and rider charges assessed on and deducted from the Fixed Account. The Fixed Account Accumulation Value will never be less than the Fixed Account portion of the Nonforfeiture Value.

**Fund–** A mutual fund that has multiple series or Portfolios.

**General Office—** A New York Life field office.

**GIPR/GIPR 2.0—** Guaranteed Investment Protection Rider or Guaranteed Investment Protection Rider 2.0.

**GIPR 2.0 Death Benefit—** The death benefit available with the GIPR 2.0.

**Good Order—** Good Order is the standard that we apply when we determine whether an instruction is satisfactory. An instruction will be considered in Good Order if it complies with our administrative procedures and is sufficiently complete and clear that we do not need to exercise any discretion to follow such instruction or complete the transaction and that it complies with all relevant laws and regulations. We may delay or reject a request if it is not in Good Order. Good Order means the actual receipt by us of instructions relating to the requested transaction in writing or by other means we then permit (such as by telephone or electronic transmission), along with all forms and other information or documentation necessary to complete the request.

**Income Payments—** Periodic payments NYLIAC makes after the Annuity Commencement Date.

**Investment Division—** The variable investment options available under the policy. Each Investment Division invests exclusively in shares of a specified Portfolio.

**IPP/IPP II—** Investment Protection Plan or Investment Protection Plan II.

**Life Income – Guaranteed Period Payment Option–** The default Income Payment option available under this policy. Monthly payments made under this option are made over the life of the Annuitant(s) with a guarantee of 10 years of payments, even if the Annuitant dies before the 10–year has expired.

**M&E Charge—** Mortality and Expense Risk and Administrative Costs Charge. Also referred to as a "Base Contract Charge."

**Non–Qualified Policies—** Policies that are not available for use by individuals in connection with employee retirement plans intended to qualify for special federal income tax treatment under Sections 403(b), 408, and 408A of the Code.

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Non–Qualified Policies include policies issued for other retirement plans or arrangements, including plans qualifying under Section 401(a) of the Code.

**Nonforfeiture Rate—** The rate used to calculate the Fixed Account and DCA Advantage Account Nonforfeiture Values. This rate, as shown on the Policy Data Page, is equal to the lesser of: a) 3.00%, and b) a rate that is not less than 1.00% and determined by using the six–month average of the five–year Constant Maturity Treasury Rate reported by the Federal Reserve for December through May (for period beginning July 1) and June through November (for period beginning January 1), rounded to the nearest .05%, minus 1.25%.

**Nonforfeiture Value—** The Nonforfeiture Value is equal to 87.50% of the Consideration(s) allocated to the Fixed Account and/or to the DCA Advantage Account accumulated at the Nonforfeiture Rate since the Payment Date or transfer date, minus any amounts withdrawn or transferred from the Fixed Account and/or the DCA Advantage Account, with the remaining amount accumulated at the Nonforfeiture Rate since the date of withdrawal or transfer. The definition is different for policies issued in New York (see APPENDIX 3—State Variations for more information).

**NYLIAC, we, our or us—** New York Life Insurance and Annuity Corporation.

**Owner (you, your)—** The individual(s) or entity(ies) designated as the Owner in the policy or as subsequently changed, who is entitled to exercise all rights under the policy.

**Payment Date—** The Business Day on which we receive a premium payment at the address specified in this Prospectus to receive such payment in Good Order.

**Policy Anniversary—** An anniversary of the Policy Date shown on the Policy Data Page.

**Policy Data Page—** Page 2 of the policy which contains the policy specifications.

**Policy Date—** The date from which we measure Policy Years, quarters, months, and Policy Anniversaries. It is shown on the Policy Data Page.

**Policy Year—** A year starting on the Policy Date. Subsequent Policy Years begin on each Policy Anniversary, unless otherwise indicated.

**Portfolios (Portfolios)—** The mutual fund portfolios in which the corresponding Investment Divisions invest.

**Qualified Policies—** Policies for use by individuals under employee retirement plans that are intended to qualify for special federal income tax treatment under Sections 403(b), 408, and 408A of the Code. Qualified Policies do not include policies issued for any other retirement plans or arrangements, including plans qualifying under Section 401(a) of the Code.

**Rider Reset–––** Changing the guaranteed amount of an Investment Protection Plan Rider, Investment Protection Plan II Rider, Guaranteed Investment Protection Rider or Guaranteed Investment Protection Rider 2.0 to make it equal to the Accumulation Value (less any applicable reductions) on the next Policy Anniversary.

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

**Separate Account—** NYLIAC Variable Annuity Separate Account–III or NYLIAC Variable Annuity Separate Account–IV, each a segregated asset account we established to receive and invest premium payments paid under the policies. The Separate Account's Investment Divisions, in turn, purchase shares of Portfolios.

**Standard Death Benefit –** The death benefit that comes standard under the base policy. It guarantees that your beneficiaries will receive the greater of: (i) your Accumulation Value, less any outstanding loan balance; or (ii) the Adjusted Death Benefit Premium Payments.

**Surrender Charge Free Amount –** You may withdraw a certain amount from your policy each Policy Year without having to pay a surrender charge on that amount. We call this the Surrender Charge Free Amount. For policies issued to policyowners age 75 and under, the maximum amount you may withdraw without a surrender charge in any given Policy Year is the greatest of either: (i) 10% of your Accumulation Value as of the last Policy Anniversary (10% of the premium payment if the withdrawal is made in the first Policy Year) less any prior surrender charge free withdrawals during the Policy Year; (ii) 10% of your Accumulation Value at the time of withdrawal, less any prior surrender charge free withdrawals during the Policy Year; or (iii) your Accumulation Value less accumulated premium payments. For policies issued to policyowners age 76-80, this percentage is 50%.

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**Surrender Charge Period –** The seven–year period of time during which a partial withdrawal or surrender could be subject to a surrender charge. Each premium payment you make will have its own Surrender Charge Period applicable to that payment.

**Variable Accumulation Value—** The sum of the current Accumulation Unit value(s) for each of the Investment Divisions multiplied by the number of Accumulation Units held in the respective Investment Division.

**VPSC—** The Variable Products Service Center.

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**Overview Of The Policy**

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**Q.** **What is this policy, and what is it designed to do?** 

A. The New York Life Premier Variable Annuity is designed to assist individuals with their long–term retirement planning or other long–term needs through investments in a variety of Allocation Options during an accumulation (savings) phase of the policy. The policy also offers death benefits to protect your designated beneficiaries. You can also elect to supplement your retirement income by converting your Accumulation Value into a stream of Income Payments (sometimes called annuity payments). This policy is only appropriate if you have a long investment time horizon. It is not intended for people who may need to make early or frequent withdrawals or intend to engage in frequent trading in the Portfolios.

**Q.** **How do I accumulate assets in the policy and receive income from the policy?** 

A. Your policy has two phases:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the accumulation (savings) phase, when you make premium payments to us, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the annuity (income) phase, when we make Income Payments to you; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● a DCA Advantage Account, which transfers amounts automatically to the Investment Divisions you choose in up to six monthly increments and pays you interest on amounts remaining in the DCA Advantage Account.

**<u>Accumulation (Savings) Phase</u>** 

During the accumulation (savings) phase of the policy, you can invest your premium payments in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● a variety of Investment Divisions (you may choose up to 18). Each Investment Division invests in a corresponding (mutual fund) Portfolio, each of which has its own investment strategies, investment adviser(s), expense ratios, and returns. Each Portfolio also has its own investment risks, including risk of loss of the amount invested.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● a Fixed Account option, which offers a guaranteed fixed interest rate for one–year periods; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● a DCA Advantage Account, which transfers amounts automatically to the Investment Divisions you choose in up to six monthly increments and pays you interest on amounts remaining in the DCA Advantage Account.

**Additional information about the Portfolios, the Fixed Account and the DCA Advantage Account is provided in Appendix 2A: *Investment Options Available Under the Policy*** 

**<u>Annuity (Income) Phase</u>** 

You can elect to annuitize your policy and turn your Accumulation Value into a fixed stream of Income Payments (sometimes called annuity payments) from NYLIAC. If you do that, we will make payments over the life of the Annuitant(s) for 10 years, even if the Annuitant dies sooner. This is called the Life Income – Guaranteed Period Payment Option. We may offer other options, at our discretion, where permitted by state law. We do not currently offer variable Income Payment options.

Please note that when you annuitize, your Accumulation Value will be converted to Income Payments and you may no longer withdraw money at will from your policy. However, you may elect partial annuitization and apply a portion of your Accumulation Value towards one of the Income Payment options we may offer, while the remainder of your Accumulation Value can remain invested in your Allocation Options. All benefits (including guaranteed minimum death benefits and living benefits) terminate when you annuitize your entire Accumulation Value.

**Q.** **What are the policy's primary features and options?** 

**Base Contract Charge (M&E Charge) options.** You can choose to have your Mortality and Expense Risk and Administrative Costs Charge ("M&E Charge") assessed based on either the Accumulation Value of the policy (which invests in Separate Account III) or your Adjusted Premium Payments (which invests in Separate Account IV). You must choose your M&E Charge option at the time of application. The M&E Charge assessed to your policy will be based on the option that you choose. Once the M&E Charge option is chosen it cannot be changed. For Accumulation Value–based M&E Charge policies, the M&E Charge is assessed based on the Accumulation

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Value of the policy and will vary with fluctuations in the policy's Accumulation Value. For Premium–based M&E Charge policies, the M&E Charge is assessed based on your Adjusted Premium Payments and will not vary with fluctuations in the policy's Accumulation Value. Please see "CHARGES AND DEDUCTIONS—Annual Policy Expenses—Base Contract Charges (M&E Charge)" for more information.

The amount of Premium–based M&E Charges deducted from your Accumulation Value will be unaffected by fluctuations in market performance. In a rising market, the Premium–based M&E Charge structure will benefit you because, when calculated as a percentage of separate account assets, the Premium-based M&E Charge will be reduced. In a flat or declining market, the Premium–based M&E Charge structure will result in a higher charge when calculated as a percentage of separate account assets. The amount of Accumulation Value–based M&E Charges assessed to your policy will be affected by fluctuations in market performance. However, the Accumulation Value–based M&E Charge structure may be more advantageous in a flat or declining market.

**Accessing your money.** Until you annuitize (begin Income Payments), you have full access to your money. You can choose to withdraw part or all of your Accumulation Value at any time through partial withdrawals, periodic partial withdrawals, hardship withdrawals or surrendering the policy. See "ANNUITY PAYMENTS (THE INCOME PHASE)—Annuity Commencement Date." However, if you withdraw more than the Surrender Charge Free Amount during the Surrender Charge Period before age 59½, you may have to pay a surrender charge and/or taxes, including tax penalties (see "CHARGES AND DEDUCTIONS—Transaction Expenses—Exceptions to Surrender Charges").

**Transferring your money.** You may, within limits, transfer amounts between Investment Divisions of the Separate Account, an available Asset Allocation Model or to the Fixed Account (if available) any time prior to 30 days before the Annuity Commencement Date, although certain restrictions may apply with respect to transfers into the Fixed Account for Premium–based M&E Charge policies. 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.

**Tax treatment.** Your premium payments accumulate on a tax-deferred basis. This means your earnings are not taxed until you take money out of your policy, such as when (1) you make a withdrawal; (2) you receive an Income Payment from the policy; or (3) upon payment of a death benefit.

**Loans—TSA plans/Accumulation Value–based M&E Charge policies only.** You may be able to borrow some of your Accumulation Value subject to certain conditions only if you (i) purchased your policy in connection with a 403(b) (TSA) plan, and (ii) chose to have your M&E charges based on the Accumulation Value of your policy.

**Death benefits.** Your policy includes a Standard Death Benefit that will pay your designated beneficiary(ies) the greater of: (i) the Accumulation Value less any outstanding loan balance, or (ii) the Adjusted Death Benefit Premium Payments (see "Definitions"). The Enhanced Beneficiary Benefit Rider, the Enhanced Spousal Continuance Rider, the GIPR 2.0, and the Annual Death Benefit Reset (ADBR) Rider were also available for an additional fee at the time of application. These optional benefits may increase the amount of money payable to your designated beneficiaries upon your death. These riders were only available when you applied for your policy.

**Optional benefits that occur during your lifetime.** For an additional fee, certain investment protection riders were available at the time of application that protect your investment from a declining market, for a specified Holding Period (the Investment Protector Plan (IPP) Rider, the IPP II Rider, the Guaranteed Investment Protection Rider (GIPR), and the GIPR 2.0 Rider). If your policy offered the IPP Rider, it can be purchased at any time for an additional fee.

**Living Needs Benefit/Unemployment benefit.** At no additional charge, we currently include a Living Needs Benefit Rider and an Unemployment Benefit Rider (or a combined Living Needs Benefit/Unemployment Rider) with all policies. These benefits increase the amount that can be withdrawn from your policy without a surrender charge when certain qualifying events occur.

**Automatic asset reallocation and dollar cost averaging.** At no additional charge, you may select automatic asset reallocation, which automatically rebalances your value in the Investment Divisions to maintain your chosen percentage allocation. Also, at no additional charge, you may select either (i) traditional dollar cost averaging, which automatically transfers a specific amount of money from any Investment Division to any combination of Investment Divisions and/or Fixed Account at set intervals, or (ii) the DCA Advantage Account, which is an

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Allocation Option that transfers amounts automatically to the Investment Divisions you choose in up to six monthly increments and pays you interest on amounts remaining in the account. (You may not elect traditional dollar cost averaging if you have elected automatic asset reallocation).

**Interest Sweep.** At no additional charge, you may select the interest sweep option which automatically transfers interest earned on the Fixed Account to one or any combination of Investment Divisions or an available Asset Allocation Model.

**Electronic Delivery.** You may elect to receive electronic delivery of current prospectuses related to this policy, as well as other policy-related documents.

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

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An investment in the policy is subject to fees, risks, and other important considerations, some of which are briefly summarized in the following table.

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| | | |
|:---|:---|:---|
|  | **FEES, EXPENSES AND ADJUSTMENTS** | **LOCATION IN**<br> **PROSPECTUS**<br>|
| **Are There** <br> **Charges for Early** <br> **Withdrawals?**<br>| **Yes.** If you withdraw more than the Surrender Charge Free Amount <br> from your policy within 7 years following your last premium payment, <br> you will be assessed a surrender charge. The maximum surrender <br> charge is 8% of the amount withdrawn during the first Payment Years <br> declining to 0% over that seven-year period. For example, if you make <br> an early withdrawal within the first Payment Year, you could pay a <br> surrender charge of up to $8,000 on a $100,000 investment. The <br> withdrawal amount could be reduced by taxes or tax penalties.<br>| **CHARGES AND** <br> **DEDUCTIONS –** <br> **Transaction** <br> **Expenses –** <br> **Surrender Charges**<br> **FEE TABLE**<br>|
| **Are There** <br> **Transaction** <br> **Charges?**<br>| **Yes.** In addition to surrender charges, we reserve the right to assess a <br> transaction charge if you transfer cash value between investment <br> options more than 12 times a year, or if a premium payment is returned <br> for insufficient funds. Although we do not currently charge for such <br> transaction, we reserve the right to charge up to $30 per transaction. A <br> loan processing fee may apply if you take a policy loan.<br>| **CHARGES AND** <br> **DEDUCTIONS –** <br> **Transaction** <br> **Expenses**<br> **FEE TABLE**<br>|
| **Are There** <br> **Ongoing Fees** <br> **and Expenses?**<br>| **Yes.** The table below describes the fees and expenses that you may <br> pay *each year*, depending on the investment options and optional <br> benefits you choose. Please refer to your Policy Data Page for <br> information about the specific fees you will pay each year based on the <br> options you have elected.<br>| **CHARGES AND** <br> **DEDUCTIONS –** <br> **Annual Policy** <br> **Expenses; Annual** <br> **Portfolio Expenses;** <br> **Optional Benefit** <br> **Expenses**<br> **FEE TABLE**<br>|

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

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| | | | |
|:---|:---|:---|:---|
| **ANNUAL FEE** | **MINIMUM** | **MAXIMUM** |  |
| Base contract<sup>1</sup> | 1.35% | 1.55% | **CHARGES AND** <br> **DEDUCTIONS –** <br> **Annual Policy** <br> **Expenses**<br>|
| Portfolio fees and expenses<sup>2</sup> | 0.37% | 1.45% | **CHARGES AND** <br> **DEDUCTIONS –** <br> **Annual Portfolio** <br> **Expenses**<br>|
| Optional benefits available for an <br> additional charge (for a single <br> optional benefit, if elected)<sup>3</sup><br>| 0.30% | 1.30% | **CHARGES AND** <br> **DEDUCTIONS –** <br> **Optional Benefit** <br> **Expenses** <br>|

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<sup>1</sup> As a percentage of Accumulation Value after the Surrender Charge <br> Period for the initial premium (Minimum Base Contract Charge) and as <br> a percentage of Adjusted Premium Payments during the Surrender <br> Charge Period for the initial premium (Maximum Base Contract <br> Charge), plus a percentage attributable to the Annual Policy Service <br> Charge.<br> <sup>2</sup> As a percentage of average net Portfolio assets. The range in fees <br> and expenses is for the year ended December 31, 2025 and will <br> change from year to year.<br> <sup>3</sup> As a percentage of the guarantee under the optional benefit.<br>

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| | |
|:---|:---|
| Because your policy is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your <br> policy, the following table shows the lowest and highest cost you could <br> pay *each year*, based on current charges. This estimate assumes that <br> you do not take withdrawals from the policy, **which could add** <br> **surrender charges that substantially increase costs.** | Because your policy is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your <br> policy, the following table shows the lowest and highest cost you could <br> pay *each year*, based on current charges. This estimate assumes that <br> you do not take withdrawals from the policy, **which could add** <br> **surrender charges that substantially increase costs.** |
| **LOWEST ANNUAL COST:**<br>$1,611.50 | **HIGHEST ANNUAL COST**<br>$3,902.86 |
| Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Least expensive combination of <br> Base Contract Charges and <br> Portfolio fees and expenses<br>•No optional benefits<br> •No sales charges<br> •No additional purchase <br> payments, transfers or <br> withdrawals<br>| Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Most expensive combination of <br> Base Contract Charges, <br> optional benefits, and Portfolio <br> fees and expenses<br>•No sales charges<br> •No additional purchase <br> payments, transfers or <br> withdrawals |

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| | | |
|:---|:---|:---|
|  | **RISKS** | **LOCATION IN** <br> **PROSPECTUS**<br>|
| **Is There a Risk of** <br> **Loss from Poor** <br> **Performance?**<br>| **Yes**. You can lose money by investing in this policy. | **PRINCIPAL RISKS** <br> **OF INVESTING IN** <br> **THE POLICY**<br>|
| **Is This a** <br> **Short-Term**<br> **Investment?**<br>| **No**. This policy is not designed for short-term investing and is not <br> appropriate for an investor who readily needs access to cash. <br> Surrender charges apply for up to 7 years following your last premium <br> payment. They will reduce the value of your policy if you withdraw <br> money during that time. Withdrawals may also be subject to federal and <br> state income taxes and tax penalties. The benefits of tax deferral and <br> living benefit protections also mean the policy is more beneficial to <br> investors with a long time horizon. If you purchased the IPP, IPP II, <br> GIPR or GIPR 2.0, you will not receive a benefit under the rider unless <br> you hold the policy for at least the specified holding period applicable to <br> the rider.<br>| **PRINCIPAL RISKS** <br> **OF INVESTING IN** <br> **THE POLICY** <br>|

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| | | |
|:---|:---|:---|
| **What Are the** <br> **Risks Associated**<br> **with the** <br> **Investment**<br> **Options?**<br>| •An investment in this policy is subject to the risk of poor investment <br> performance and can vary depending on the performance of the <br> variable investment options (e.g., Portfolios) and guaranteed options <br> (e.g., the Fixed Account and DCA Advantage Account) you choose.<br>•Each investment option, including the Fixed Account and DCA <br> Advantage Account, has its own unique risks.<br>•You should review the prospectuses for the available Portfolios and <br> the description in this prospectus of the Fixed Account and the DCA <br> Advantage Account before making an investment decision.<br>| **PRINCIPAL RISKS** <br> **OF INVESTING IN** <br> **THE POLICY**<br>|
| **What Are the** <br> **Risks Related to** <br> **the Insurance** <br> **Company?**<br>| An investment in the policy is subject to the risks related to NYLIAC, <br> including that any obligations, guarantees, and benefits of the policy <br> are subject to the claims-paying ability of NYLIAC. If NYLIAC <br> experiences financial distress, it may not be able to meet its obligations <br> to you. More information about NYLIAC is available upon request from <br> NYLIAC by calling the VPSC at 1-800-598-2019.<br>| **PRINCIPAL RISKS** <br> **OF INVESTING IN** <br> **THE POLICY**<br>|

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| | | |
|:---|:---|:---|
|  | **RESTRICTIONS** | **LOCATION IN** <br> **PROSPECTUS**<br>|
| **Are There Limits** <br> **on the** <br> **Investment** <br> **Options?**<br>| **Yes.**<br> •We limit the number of Investment Divisions you may choose. You <br> may allocate premium payments and Accumulation Value to up to 18 <br> separate Investment Divisions, plus the Fixed Account and DCA <br> Advantage Account, some of which may not be available under your <br> policy.<br>•We reserve the right to charge $30 for each transfer when you <br> transfer money between Investment Divisions in excess of 12 times in <br> a Policy Year.<br>•Additional restrictions apply with respect to transfers to and from the <br> Fixed Account and DCA Advantage Account.<br>•We reserve the right to limit transfers in circumstances of frequent <br> transfers or to prevent market timing.<br>•We reserve the right to remove, close, or substitute Portfolios as <br> investment options that are available under the policy.<br>| **THE** <br> **POLICIES—Policy** <br> **Application and** <br> **Premium Payments,** <br> **Transfers, and** <br> **Limits on Transfers**<br>**NYLIAC AND THE** <br> **SEPARATE** <br> **ACCOUNTS—**<br> **Additions,** <br> **Deletions, or** <br> **Substitutions of** <br> **Investments**<br>|
| **Are There** <br> **Restrictions on** <br> **Policy Benefits?**<br>| **Yes.**<br> •Certain optional benefits limit or restrict the investment options you <br> may select under the policy. We may change these restrictions in the <br> future.<br>•Certain optional benefits may limit withdrawals or other rights under <br> the policy.<br>•Under certain benefits, a withdrawal could reduce the value of a <br> benefit by more than the dollar amount of the withdrawal and/or could <br> terminate the benefit.<br>•You are required to have a minimum Accumulation Value for some <br> optional benefits.<br>•We may modify or discontinue an optional benefit at any time.<br> •Some optional benefits cannot be cancelled without surrendering <br> your policy.<br>| **DESCRIPTION OF** <br> **BENEFITS** <br>|

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| | | |
|:---|:---|:---|
|  | **TAXES** | **LOCATION IN** <br> **PROSPECTUS**<br>|
| **What are the** <br> **Policy's Tax**<br> **Implications?**<br>| •Consult with a tax professional to determine the tax implications of <br> an investment in, withdrawals from and surrenders of this policy.<br>•If you purchase the policy through a tax-qualified plan or individual <br> retirement account (IRA), such plan or IRA already provides tax <br> deferral under the Code and there are fees and charges in an annuity <br> that may not be included in such other investments. Therefore, the <br> tax deferral of the policy does not provide additional benefits.<br>•Premiums that are made on a pre-tax basis as well as earnings on <br> your policy are taxed at ordinary income tax rates when you withdraw <br> them, and you may have to pay a 10% penalty tax if you take a <br> withdrawal before age 59½.<br>| **FEDERAL TAX** <br> **MATTERS**<br>|
|  | **CONFLICTS OF INTEREST** | **LOCATION IN** <br> **PROSPECTUS**<br>|
| **How are** <br> **Investment**<br> **Professionals**<br> **Compensated?**<br>| Your registered representative may receive compensation for selling <br> this policy to you, in the form of commissions, asset-based <br> compensation, allowances for expenses, and other compensation <br> programs. Your registered representative may have a financial incentive <br> to offer or recommend this policy over another investment.<br>| **DISTRIBUTION AND** <br> **COMPENSATION** <br> **ARRANGEMENTS**<br>|
| **Should I** <br> **Exchange My** <br> **Policy?**<br>| Your registered representative may have a financial incentive to offer <br> you a new policy in place of the one you own. You should consider <br> exchanging your policy if you determine, after comparing the features, <br> fees, risks of both policies, and any fees or penalties to terminate the <br> existing policy, that it is in your best interest to purchase the new policy <br> rather than continue to own your existing policy.<br>| **THE POLICIES –** <br> **Tax-Free** <br> **Section 1035** <br> **Exchanges;**<br> **Selecting the** <br> **Variable Annuity** <br> **That's Right for You**<br>|

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**Fee Table**

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**The following tables describe the fees and expenses that you will pay when buying, owning, making withdrawals from, or surrendering the policy. Please refer to your Policy Data Page for information about the specific fees you will pay each year based on the options you have elected.** 

**The first table describes the fees and expenses that you will pay at the time that you buy the policy, surrender, or make withdrawals from the policy, or transfer Accumulation Value between investment options. State premium taxes may also be deducted.**

**<u>Transaction Expenses</u>** 

**Surrender Charges (as a percentage of amount withdrawn). Applied to amounts in excess of the Surrender Charge Free Amount that you may withdraw each Policy Year.** 

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Payment Year** | **1** | **2** | **3** | **4** | **5** | **6** | **7** | **8+** |
| Surrender Charge | 8.00% | 7.00% | 6.00% | 5.00% | 4.00% | 3.00% | 2.00% | 0.00% |

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| | | |
|:---|:---|:---|
| **Other Transaction Charges** | **Guaranteed**<br> **maximum fee**<br>| **Current**<br> **fee**<br>|
| Transfer Fee (charged for transfers in excess of 12 in a policy year) | $30 | $0 |
| Payments Returned for Insufficient Funds | $20 | $0 |
| Loan Processing Fee (TSA Plans only) | $25 | $0 |

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**The next table describes the fees and expenses that you will pay *each year* during the time that you own the policy (not including Portfolio fees and expenses).** 

**If you choose to purchase an optional benefit, you will pay additional charges, as shown below.** 

**<u>Annual Policy Expenses</u>** 

**Base Contract Charges (Without Optional Benefits)** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Policies with Accumulation**<br> **Value Base Contract Charges**<sup>1</sup>  | **Policies with Accumulation**<br> **Value Base Contract Charges**<sup>1</sup>  | **Policies with Premium**<br> **Base Contract Charges**<sup>2</sup>  | **Policies with Premium**<br> **Base Contract Charges**<sup>2</sup>  |
| **Administrative**<br> **Expense**<sup>3</sup><br>| $30 | $30 | $30 | $30 |
| **Base Contract**<br> **Expenses**<sup>4</sup><br> **(as an annualized**<br> **percentage of daily**<br> **Variable Accumulation**<br> **Value)** | **Guaranteed**<br> **Maximum Charge**<br>| **Current Charge** | **Guaranteed**<br> **Maximum Charge**<br>| **Current Charge** |
| **Base Contract**<br> **Expenses**<sup>4</sup><br> **(as an annualized**<br> **percentage of daily**<br> **Variable Accumulation**<br> **Value)** | 1.35% | 1.35% | 1.55% | 1.55% |

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<sup>1</sup>

As an annualized percentage of daily Variable Accumulation Value.

<sup>2</sup>

As an annualized percentage of Adjusted Premium Payments.

<sup>3</sup>

We call this fee the "Annual Policy Service Charge" in your policy and elsewhere in the prospectus. This fee is waived for policies that have $100,000 or more of Accumulation Value on a given Policy Anniversary.

<sup>4</sup>

We call this the "Mortality and Expense Risk and Administrative Costs Charge (M&E)" in your policy and elsewhere in this prospectus.

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**<u>Optional Benefit Expenses</u>** 

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| | | |
|:---|:---|:---|
| **Investment Protection Plan Rider (Policies applied for before** <br> **February 15, 2010)**<br>| **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br> (calculated as an annualized percentage of the amount that is guaranteed <br> under the IPP Rider, deducted on a quarterly basis).<br>| 1.00% | 0.65% |
| **Annual Charge if you added the IPP or elected an IPP Rider Reset** <br> **with an effective date between May 1, 2016 and November 12, 2017**<br>| 1.00% | 0.85% |
| **Annual Charge if you added the IPP or elected an IPP Rider Reset** <br> **with an effective date on or after November 13, 2017**<br>| 1.00% | 0.80% |

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| | | |
|:---|:---|:---|
| **Investment Protection Plan Rider (Policies applied for on or after** <br> **February 15, 2010)**<br>| **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br> (calculated as an annualized percentage of the amount that is guaranteed <br> under the IPP Rider, deducted on a quarterly basis).<br>| 1.25% | 0.65% |
| **Annual Charge if you added the IPP or elected an IPP Rider Reset** <br> **with an effective date between May 1, 2016 and November 12, 2017**<br>| 1.25% | 0.85% |
| **Annual Charge if you added the IPP or elected an IPP Rider Reset** <br> **with an effective date between November 13, 2017 and April 30, 2019**<br>| 1.25% | 0.80% |
| **Annual Charge if you added the IPP or elected an IPP Rider Reset** <br> **with an effective date on or after May 1, 2019**<br>| 1.25% | 0.70% |

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| | | |
|:---|:---|:---|
| **All IPP Riders** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Rider Risk Charge Adjustment (Cancellation Charge)**<br> (one-time charge for cancellation of the IPP, calculated as a percentage of <br> the amount guaranteed).<br>| 2.00% | 2.00% |

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| | | |
|:---|:---|:---|
| **Investment Protection Plan Rider (IPP II) Riders** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br> (calculated as an annualized percentage of the amount that is guaranteed <br> under the IPP II, deducted on a quarterly basis).<br>| 1.50% | 0.65% |
| **Annual Charge if you elected an IPP II Rider Reset with an effective** <br> **date between May 1, 2016 and November 12, 2017**<br>| 1.50% | 0.85% |
| **Annual Charge if you elected an IPP II Rider Reset with an effective** <br> **date between November 13, 2017 and April 30, 2019**<br>| 1.50% | 0.80% |
| **Annual Charge if you elected an IPP II Rider Reset with an effective** <br> **date on or after May 1, 2019**<br>| 1.50% | 0.70% |
| **Rider Risk Charge Adjustment (Cancellation Charge)**<br> (one-time charge for cancellation of the IPP II, calculated as a percentage <br> of the amount guaranteed).<br>| 2.00% | 2.00% |

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| | | |
|:---|:---|:---|
| **Guaranteed Investment Protection (GIPR) Rider** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br> (calculated as an annualized percentage of the amount that is guaranteed <br> under the GIPR, deducted on a quarterly basis).<br>| 1.50% | 0.65% |
| **Annual Charge if you elected a GIPR Rider Reset with an effective** <br> **date between May 1, 2016 and November 12, 2017**<br>| 1.50% | 0.85% |
| **Annual Charge if you elected a GIPR Rider Reset with an effective** <br> **between November 13, 2017 and April 30, 2019**<br>| 1.50% | 0.80% |
| **Annual Charge if you elected a GIPR Rider Reset with an effective** <br> **date on or after May 1, 2019**<br>| 1.50% | 0.70% |
| **Rider Risk Charge Adjustment (Cancellation Charge)**<br> (one-time charge for cancellation of the GIPR, calculated as a percentage <br> of the amount guaranteed).<br>| 2.00% | 2.00% |

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| | | | |
|:---|:---|:---|:---|
| **Guaranteed Investment Protection 2.0 (GIPR 2.0) Rider** | **Guaranteed Investment Protection 2.0 (GIPR 2.0) Rider** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> GIPR 2.0, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | 1.10% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> GIPR 2.0, deducted on a quarterly basis) | 11 Year Holding Period | 2.00% | 0.85% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> GIPR 2.0, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.65% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> GIPR 2.0, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> GIPR 2.0, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.40% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> GIPR 2.0, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.30% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> GIPR 2.0, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.50% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between May 1, 2016 and November 12,** <br> **2017** | 10 Year Holding Period | 2.00% | 1.30% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between May 1, 2016 and November 12,** <br> **2017** | 11 Year Holding Period | 2.00% | 1.05% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between May 1, 2016 and November 12,** <br> **2017** | 12 Year Holding Period | 1.50% | 0.85% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between May 1, 2016 and November 12,** <br> **2017** | 13 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between May 1, 2016 and November 12,** <br> **2017** | 14 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between May 1, 2016 and November 12,** <br> **2017** | 15 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between May 1, 2016 and November 12,** <br> **2017** | 20 Year Holding Period | 1.50% | 0.60% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between November 13, 2017 and** <br> **April 30, 2019** | 10 Year Holding Period | 2.00% | 1.15% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between November 13, 2017 and** <br> **April 30, 2019** | 11 Year Holding Period | 2.00% | 1.00% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between November 13, 2017 and** <br> **April 30, 2019** | 12 Year Holding Period | 1.50% | 0.80% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between November 13, 2017 and** <br> **April 30, 2019** | 13 Year Holding Period | 1.50% | 0.65% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between November 13, 2017 and** <br> **April 30, 2019** | 14 Year Holding Period | 1.50% | 0.55% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between November 13, 2017 and** <br> **April 30, 2019** | 15 Year Holding Period | 1.50% | 0.45% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between November 13, 2017 and** <br> **April 30, 2019** | 20 Year Holding Period | 1.50% | 0.55%  |

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| | | | |
|:---|:---|:---|:---|
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date on or** <br> **after May 1, 2019** | 10 Year Holding Period | 2.00% | 1.00% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date on or** <br> **after May 1, 2019** | 11 Year Holding Period | 2.00% | 0.85% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date on or** <br> **after May 1, 2019** | 12 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date on or** <br> **after May 1, 2019** | 13 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date on or** <br> **after May 1, 2019** | 14 Year Holding Period | 1.50% | 0.55% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date on or** <br> **after May 1, 2019** | 15 Year Holding Period | 1.50% | 0.45% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date on or** <br> **after May 1, 2019** | 20 Year Holding Period | 1.50% | 0.55% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Rider Risk Charge Adjustment** <br> **(Cancellation Charge)**<br>(one–time charge for cancellation of the <br> GIPR 2.0; calculated as a percentage of <br> the amount guaranteed) | 10 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment** <br> **(Cancellation Charge)**<br>(one–time charge for cancellation of the <br> GIPR 2.0; calculated as a percentage of <br> the amount guaranteed) | 11 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment** <br> **(Cancellation Charge)**<br>(one–time charge for cancellation of the <br> GIPR 2.0; calculated as a percentage of <br> the amount guaranteed) | 12 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment** <br> **(Cancellation Charge)**<br>(one–time charge for cancellation of the <br> GIPR 2.0; calculated as a percentage of <br> the amount guaranteed) | 13 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment** <br> **(Cancellation Charge)**<br>(one–time charge for cancellation of the <br> GIPR 2.0; calculated as a percentage of <br> the amount guaranteed) | 14 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment** <br> **(Cancellation Charge)**<br>(one–time charge for cancellation of the <br> GIPR 2.0; calculated as a percentage of <br> the amount guaranteed) | 15 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment** <br> **(Cancellation Charge)**<br>(one–time charge for cancellation of the <br> GIPR 2.0; calculated as a percentage of <br> the amount guaranteed) | 20 Year Holding Period | 1.00% | 1.00% |

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

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| | | |
|:---|:---|:---|
| **Annual Death Benefit Reset Rider (ADBR)** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **ADBR Rider Charge**<br>(calculated as an annualized percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the Policy Date if within the first Policy <br> Year), deducted on a quarterly basis; for a detailed explanation of the term <br> "ADBR Reset Value," see "DESCRIPTION OF BENEFITS–Annual Death <br> Benefit Reset (ADBR) Rider"). | 1.00% | 0.30%<br>*(if the oldest* <br> *Owner was age 65* <br> *or younger when* <br> *the policy was* <br> *issued)*<br>|
| **ADBR Rider Charge**<br>(calculated as an annualized percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the Policy Date if within the first Policy <br> Year), deducted on a quarterly basis; for a detailed explanation of the term <br> "ADBR Reset Value," see "DESCRIPTION OF BENEFITS–Annual Death <br> Benefit Reset (ADBR) Rider"). | 1.00% | 0.35%<br>*(if the oldest* <br> *Owner was age 66* <br> *to 75 inclusive* <br> *when the policy* <br> *was issued)*<br>|

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

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| | | | |
|:---|:---|:---|:---|
| **IPP + ADBR Package** | **Guaranteed**<br> **Maximum Combined** <br> **Charge for the IPP + ADBR** <br> **Package**<br>| **Current**<br> **Charge for the** <br> **IPP Portion of the** <br> **IPP + ADBR** <br> **Package**<br>| **Current**<br> **Charge for the** <br> **ADBR Portion of** <br> **the IPP + ADBR** <br> **Package**<br>|
| **Annual Charge for Investment Protection** <br> **Plan Rider/Annual Death Benefit Reset** <br> **Rider Package (IPP + ADBR Package)**<br> (calculated as the sum of (1) the <br> Investment Protection Plan Rider Charge, <br> calculated as an annualized percentage of <br> the amount guaranteed under the <br> Investment Protection Plan Rider; and <br> (2) the Annual Death Benefit Reset Rider <br> Charge, calculated as an annualized <br> percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the <br> Policy Date if within the first Policy Year)) | 2.00% | 0.65% (for riders <br> applied for on or <br> after February 15, <br> 2010)<br>| 0.25% |
| **Annual Charge for Investment Protection** <br> **Plan Rider/Annual Death Benefit Reset** <br> **Rider Package (IPP + ADBR Package)**<br> (calculated as the sum of (1) the <br> Investment Protection Plan Rider Charge, <br> calculated as an annualized percentage of <br> the amount guaranteed under the <br> Investment Protection Plan Rider; and <br> (2) the Annual Death Benefit Reset Rider <br> Charge, calculated as an annualized <br> percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the <br> Policy Date if within the first Policy Year)) | 2.00% | 0.75% (for riders <br> applied for prior to <br> February 15, <br> 2010)<br>| 0.25% |
| **IPP II + ADBR Package** | **Guaranteed**<br> **Maximum Combined** <br> **Charge for the IPP II +** <br> **ADBR Package**<br>| **Current**<br> **Charge for the** <br> **IPP Portion of the** <br> **IPP II + ADBR** <br> **Package**<br>| **Current**<br> **Charge for the** <br> **ADBR Portion of** <br> **the IPP II + ADBR** <br> **Package**<br>|
| **Annual Charge for Investment Protection** <br> **Plan II Rider /Annual Death Benefit Reset** <br> **Rider Package (IPP + ADBR Package)**<br> Charge (calculated as the sum of (1) the <br> Investment Protection Plan II Rider Charge, <br> calculated as an annualized percentage of <br> the amount guaranteed under the <br> Investment Protection Plan II Rider; and <br> (2) the Annual Death Benefit Reset Rider <br> Charge, calculated as an annualized <br> percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the <br> Policy Date if within the first Policy Year))<br>| 2.00% | 0.65% | 0.25% |

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

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| | | | |
|:---|:---|:---|:---|
| **GIPR + ADBR Package** | **Guaranteed**<br> **Maximum Combined** <br> **Charge for the GIPR +** <br> **ADBR Package**<br>| **Current**<br> **Charge for the** <br> **GIPR Portion of** <br> **the GIPR + ADBR** <br> **Package**<br>| **Current**<br> **Charge for the** <br> **ADBR Portion of** <br> **the GIPR + ADBR** <br> **Package**<br>|
| **Annual charge for Guaranteed** <br> **Investment Protection Plan Rider/Annual** <br> **Death Benefit Reset Rider Package** <br> **(GIPR + ADBR Package)**<br> (calculated as the sum of (1) the <br> Guaranteed Investment Protection Rider <br> Charge, calculated as an annualized <br> percentage of the amount guaranteed <br> under the Guaranteed Investment <br> Protection Rider; and (2) the Annual Death <br> Benefit Reset Rider Charge, calculated as <br> an annualized percentage of the ADBR <br> Reset Value as of the last Policy <br> Anniversary (or as of the Policy Date if <br> within the first Policy Year)).<br>| 2.00% | 0.65% | 0.25% |

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **GIPR 2.0 + ADBR Package** | **GIPR 2.0 + ADBR Package** | **Guaranteed**<br> **Maximum** <br> **Combined** <br> **Charge for the** <br> **GIPR 2.0 + ADBR** <br> **Package**<br>| **Current**<br> **Charge for the** <br> **GIPR Portion of** <br> **the GIPR 2.0 +** <br> **ADBR Package**<br>| **Current**<br> **Charge for the** <br> **ADBR Portion of** <br> **the GIPR + ADBR** <br> **Package**<br>|
| **Annual charge for Guaranteed** <br> **Investment Protection Plan** <br> **Rider 2.0/Annual Death Benefit** <br> **Reset Rider Package (GIPR 2.0** <br> **+ ADBR Package)**<br>(calculated as the sum of (1) the <br> Guaranteed Investment Protection <br> Rider 2.0 Charge, calculated as <br> an annualized percentage of the <br> amount guaranteed under the <br> Guaranteed Investment Protection <br> Rider 2.0; and (2) the Annual <br> Death Benefit Reset Rider <br> Charge, calculated as an <br> annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)). | 10 Year Holding <br> Period<br>| 2.00% | 0.95% | 0.25% |
| **Annual charge for Guaranteed** <br> **Investment Protection Plan** <br> **Rider 2.0/Annual Death Benefit** <br> **Reset Rider Package (GIPR 2.0** <br> **+ ADBR Package)**<br>(calculated as the sum of (1) the <br> Guaranteed Investment Protection <br> Rider 2.0 Charge, calculated as <br> an annualized percentage of the <br> amount guaranteed under the <br> Guaranteed Investment Protection <br> Rider 2.0; and (2) the Annual <br> Death Benefit Reset Rider <br> Charge, calculated as an <br> annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)). | 11 Year Holding <br> Period<br>| 2.00% | 0.80% | 0.25% |
| **Annual charge for Guaranteed** <br> **Investment Protection Plan** <br> **Rider 2.0/Annual Death Benefit** <br> **Reset Rider Package (GIPR 2.0** <br> **+ ADBR Package)**<br>(calculated as the sum of (1) the <br> Guaranteed Investment Protection <br> Rider 2.0 Charge, calculated as <br> an annualized percentage of the <br> amount guaranteed under the <br> Guaranteed Investment Protection <br> Rider 2.0; and (2) the Annual <br> Death Benefit Reset Rider <br> Charge, calculated as an <br> annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)). | 12 Year Holding <br> Period<br>| 2.00% | 0.65% | 0.25% |
| **Annual charge for Guaranteed** <br> **Investment Protection Plan** <br> **Rider 2.0/Annual Death Benefit** <br> **Reset Rider Package (GIPR 2.0** <br> **+ ADBR Package)**<br>(calculated as the sum of (1) the <br> Guaranteed Investment Protection <br> Rider 2.0 Charge, calculated as <br> an annualized percentage of the <br> amount guaranteed under the <br> Guaranteed Investment Protection <br> Rider 2.0; and (2) the Annual <br> Death Benefit Reset Rider <br> Charge, calculated as an <br> annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)). | 13 Year Holding <br> Period<br>| 2.00% | 0.55% | 0.25% |
| **Annual charge for Guaranteed** <br> **Investment Protection Plan** <br> **Rider 2.0/Annual Death Benefit** <br> **Reset Rider Package (GIPR 2.0** <br> **+ ADBR Package)**<br>(calculated as the sum of (1) the <br> Guaranteed Investment Protection <br> Rider 2.0 Charge, calculated as <br> an annualized percentage of the <br> amount guaranteed under the <br> Guaranteed Investment Protection <br> Rider 2.0; and (2) the Annual <br> Death Benefit Reset Rider <br> Charge, calculated as an <br> annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)). | 14 Year Holding <br> Period<br>| 2.00% | 0.50% | 0.25% |
| **Annual charge for Guaranteed** <br> **Investment Protection Plan** <br> **Rider 2.0/Annual Death Benefit** <br> **Reset Rider Package (GIPR 2.0** <br> **+ ADBR Package)**<br>(calculated as the sum of (1) the <br> Guaranteed Investment Protection <br> Rider 2.0 Charge, calculated as <br> an annualized percentage of the <br> amount guaranteed under the <br> Guaranteed Investment Protection <br> Rider 2.0; and (2) the Annual <br> Death Benefit Reset Rider <br> Charge, calculated as an <br> annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)). | 15 Year Holding <br> Period<br>| 2.00% | 0.40% | 0.25% |
| **Annual charge for Guaranteed** <br> **Investment Protection Plan** <br> **Rider 2.0/Annual Death Benefit** <br> **Reset Rider Package (GIPR 2.0** <br> **+ ADBR Package)**<br>(calculated as the sum of (1) the <br> Guaranteed Investment Protection <br> Rider 2.0 Charge, calculated as <br> an annualized percentage of the <br> amount guaranteed under the <br> Guaranteed Investment Protection <br> Rider 2.0; and (2) the Annual <br> Death Benefit Reset Rider <br> Charge, calculated as an <br> annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)). | 20 Year Holding <br> Period<br>| 2.00% | 0.50% | 0.25% |

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

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| | | |
|:---|:---|:---|
| **Enhanced Beneficiary Benefit Rider** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge for Enhanced Beneficiary Benefit Rider**<br> (calculated as an annualized percentage of the policy's Accumulation <br> Value, deducted on a quarterly basis).<br>| 1.00% | 0.30%  |

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**The next table shows the minimum and maximum total operating expenses charged by the Portfolios that you may pay periodically during the time that you own the policy. The expenses may change over time and may be higher or lower in the future. A complete list of Portfolios available under the policy, including their annual expenses, may be found in APPENDIX 2A**.

**<u>Annual Portfolio Expenses</u>** 

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| | | |
|:---|:---|:---|
|  | **Minimum** | **Maximum** |
| Expenses that are deducted from the Portfolio assets, including <br> management fees, distribution and/or service (12b-1) fees, and other <br> expenses.<sup>1</sup> <br>|  |  |
| Before fee waivers and expense reimbursements | 0.37% | 1.45% |
| After fee waivers and expense reimbursements<sup>2</sup> <br>| 0.28% | 1.45% |

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Shown as a percentage of average net assets for the fiscal year ended December 31, 2025.

Fee waivers and expense reimbursements are expected to continue through April 30, 2027 and may be terminated at any time thereafter at the option of the Portfolio company.

**<u>Examples</u>** 

**These Examples are intended to help you compare the cost of investing in the Investment Divisions with the cost of investing in other annuity contracts that offer variable options. These costs include transaction expenses, annual policy expenses and Annual Portfolio Expenses.** 

**These Examples assume all Accumulation Value is allocated to the Investment Divisions. Your costs could differ from those shown below if you invest in the Fixed Account or the DCA Advantage Account.** 

**These Examples assume that you invest $100,000 in the Investment Divisions for the time periods indicated. The Examples also assume that your investment has a 5% return each year, and assumes the most expensive combination of Base Contract Charges, Annual Portfolio Expenses and optional benefits for an additional charge.\* Although your actual costs may be higher or lower, based on these assumptions your costs would be:** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Years | Years | Years | Years |
|  | 1 yr | 3 yr | 5 yr | 10 yr |
| If you surrender your policy at the end of the applicable time <br> period:<br>| $12230.26 | $20576.62 | $28892.76 | $50575.80 |
| If you annuitize at the end of the applicable time period: | $12230.26 | $15155.77 | $25273.83 | $50575.80 |
| If you do not surrender your policy: | $5032.89 | $15155.77 | $25273.83 | $50545.80 |
| \*Assumes you have elected a policy with premium-based Base <br> Contract charges with the GIPR 2.0 (10-year Holding Period), the <br> ADBR and the EBB.<br>|  |  |  |  |

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**Principal Risks of Investing in the Policy**

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This section is intended to summarize the principal risks of investing in the policy.

**Market Risk.** You can lose money by investing in this policy, including loss of principal. An investment in this policy is subject to the risk of poor investment performance and can vary depending on the performance of the Allocation Options you choose. You bear the risk of any decline in your policy's value resulting from the performance of the Portfolios you have chosen. Amounts allocated to a Portfolio or an Asset Allocation Model are subject to the risks inherent in the securities markets and, specifically, to price fluctuations in the Portfolios' investments. Each investment option (including the Fixed Account) has its own unique risks. For more information about the risks of investing in a particular Portfolio, see that Portfolio's prospectus which can be found online at https://dfinview.com/NewYorkLife/TAHD/premier. You can also request this information at no cost by calling the VPSC at 1-800-598-2019 or by sending an email request with your name and address to PremierProspectus@newyorklife.com. You should review the prospectuses for the available Portfolios before making an investment decision.

**Early Withdrawal Risk.** This policy is not designed for short–term investing and is not appropriate for an investor who needs ready access to cash. Surrender charges apply for up to seven years after your last premium payment. They will reduce the value of your policy if you withdraw money during that time. Withdrawals could substantially reduce or even terminate the benefits available under the policy. Withdrawals may also be subject to federal and state income taxes, and tax penalties if the withdrawal is made before the owner attains age 59½. The benefits of tax deferral and the policy's living benefit protections also mean the policy is better for investors with a long time horizon.

**Policy Benefits Risk.** Certain benefits under the policy are contingent on several conditions being met. If those conditions are not met you may not realize a benefit from the policy or the optional benefits for which you have been charged a fee. For example:

&nbsp;&nbsp;&nbsp;&nbsp;● You may need to take withdrawals which have the potential to substantially reduce or terminate the Standard Death Benefit available under the policy. Withdrawals could reduce the value of the Standard Death Benefit by more than the dollar amount of the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;● The investment protection riders (IPP, IPP II, GIPR and GIPR 2.0) require that you hold the policy for a certain number of years (the Holding Period). If you surrender your policy before the Holding Period is over, you will not receive a benefit under the rider. If you take withdrawals during the Holding Period, the benefit provided by your particular investment protection rider will be reduced proportionally by any such withdrawals. If your Accumulation Value is less than amount guaranteed by your investment protection rider at the time the withdrawal is requested, the reduction in your guaranteed amount will be greater than the dollar amount withdrawn. Accordingly, under certain circumstances, a withdrawal could reduce the value of the benefit by more than the dollar amount of the withdrawal. In addition, you will only be allowed to allocate your premium payments to certain Allocation Options, or you will be limited in the amount you can allocate to the Investment Divisions (based on certain thresholds for Asset Allocation Categories). If you cancel your investment protection rider, you will be assessed a cancellation charge, which could significantly increase your costs under the policy.

&nbsp;&nbsp;&nbsp;&nbsp;● The Living Needs Benefit and Unemployment Riders only provide a benefit after the policy has been in force for at least one year and only if a Qualifying Event occurs. They require a minimum Accumulation Value of $5,000.

&nbsp;&nbsp;&nbsp;&nbsp;● The Annual Death Benefit Reset Rider only provides a benefit if your policy value increases over time. In addition, withdrawals will reduce the value of the benefits in proportion to the amount of the withdrawal relative to the total policy value at the time of the withdrawal. Accordingly, under certain circumstances, a withdrawal could reduce the value of the ADBR benefit by more than the dollar amount of the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;● The Enhanced Beneficiary Benefit Rider only provides a benefit if your policy's Accumulation Value exceeds your Adjusted Premium Payments. In addition, withdrawals will reduce the value of the benefits in proportion to the amount of the withdrawal relative to the total policy value at the time of the withdrawal. Accordingly, under certain circumstances, a withdrawal could reduce the value of the EBB benefit by more than the dollar amount of the withdrawal.

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**Alternatives to the Policy.** Other policies or investments may provide more favorable returns or benefits than the policy.

**Policy Changes and Investment Restrictions Risk.** There are restrictions that may limit the investments that you may choose if you choose one of the investment protection riders. Amounts invested in accordance with those restrictions may earn a return that is less than the return you might have earned on those amounts in other Investment Divisions had you not been subject to any investment restrictions. If you have selected one of the investment preservation riders, we may change the permitted Investment Divisions that you may choose.

We reserve the right to limit transfers, and we reserve the right to charge $30 for each transfer when you transfer money to or from the Investment Divisions and the Fixed Account more than 12 times in a Policy Year. We also reserve the right to terminate certain policy features such as dollar cost averaging, Automatic Asset Reallocation, Asset Allocation Models and Interest Sweep.

We may impose limits on the minimum and maximum amounts that you may invest in the policy or other transaction limits that may limit your use of the policy.

In addition, we reserve the right to remove Investment Divisions or substitute Portfolios as investment options that are available under the policy.

**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, which we apply to all owners of the policy without exception. (See "THE POLICIES–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

&nbsp;&nbsp;&nbsp;&nbsp;● Dilution of the interests of long–term investors.

A 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 "THE POLICIES–Limits on Transfers" for more information on the risks of frequent trading.)

**Change in Fees and Charges Risk.** Deduction of policy fees and charges (including surrender charges), and optional benefit fees, may result in loss of principal. We reserve the right to increase the fees and charges under the policy and optional benefits up to the maximum guaranteed fees and charges stated on your Policy Data Page.

The amount of premium–based M&E Charges assessed to your policy will be unaffected by fluctuations in market performance. In a rising market, the premium–based M&E Charge structure will benefit the policyowner because the premium–based M&E Charge, when calculated as a percentage of separate account assets, will be reduced. In a flat or declining market, the premium–based M&E Charge structure will result in an increase in the charge when calculated against separate account assets. The amount of Accumulation Value–based M&E Charges assessed to your policy will be affected by fluctuations in market performance. However, the Accumulation Value–based M&E Charge structure may be more advantageous in a flat or declining market and disadvantageous in a rising market.

**Change in Rates Risk.** The rate we declare for the Fixed Account may be lower than you would find acceptable.The crediting rate that we declare for the DCA Advantage Account may be lower than what you would find acceptable.

**Adverse Tax Consequences.** There are a number of tax risks that may arise in connection with purchasing the policy. These risks include: (1) the possibility that the Internal Revenue Service ("IRS") may interpret the rules that apply to variable annuities 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 an annuity for federal tax purposes resulting in the loss of favorable tax treatment accorded your policy; and (3) the possibility of a change in the present federal income tax laws that apply to your policy, or of the

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current interpretations by the IRS, which may change from time to time without notice, and could have retroactive effects regardless of the date of enactment or publication, as the case may be.

**Insurance Company Risks.** Any obligations (including those of the Fixed Account), guarantees, and benefits of the policy are subject to the claims–paying ability of NYLIAC. If NYLIAC experiences financial distress, it may not be able to meet its obligations to you. More information about NYLIAC is available upon request from NYLIAC by calling the VPSC at 1-800-598-2019.

**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 the SAI "ADDITIONAL INFORMATION ABOUT RISKS (Non-Principal Risk)" for more information.)

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**Contacting NYLIAC**

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***Where do I send written service requests?*** 

Certain service requests, including but not limited to death benefit claims and surrenders, are required to be in writing.

All written service requests (except for subsequent premium payments and loan repayments) must be sent to the NYLIAC Variable Products Service Center ("VPSC") at one of the following addresses:

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| | | |
|:---|:---|:---|
|  | **Regular Mail** | **Express Mail** |
|  | NYLIAC Variable Products Service Center<br> Madison Square Station<br> P.O. Box 922<br> New York, NY 10159<br>| &nbsp;&nbsp; NYLIAC Variable Products Service Center<br> 51 Madison Avenue<br> Floor 3B, Room 0304<br> New York, NY 10010<br>|
| **Death Claim forms may** <br> **also be submitted to** | **Regular Mail** |  |
| **Death Claim forms may** <br> **also be submitted to** | New York Life<br> P.O. Box 130539<br> Dallas, TX 75313–0539<br>|  |

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Subsequent premium payments and loan repayments should be sent to the VPSC at one of the following addresses **(acceptance of subsequent premium payments is subject to our Sales Standards):** 

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| | | |
|:---|:---|:---|
|  | **Regular Mail** | **Express Mail** |
| **Subsequent Premium** <br> **Payments and loan** <br> **repayments**<br>| NYLIAC<br> 75 Remittance Drive<br> Suite 3021<br> Chicago, IL 60675–3021<br>| &nbsp;&nbsp; NYLIAC<br> 5450 N Cumberland Avenue<br> Suite 100<br> Chicago, IL 60656-1422<br>|

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Written service requests will be effective as of the Business Day they are received in Good Order at the VPSC at one of the addresses listed above.

Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion. All service requests must be in Good Order. Please review all service request forms carefully and provide all required information that is applicable to the transaction. If your request is not in Good Order, we will not process it. We will make every reasonable attempt to notify you in writing of this situation. It is important that you inform NYLIAC of an address change so that you can receive important policy statements and other information.

***How do I contact NYLIAC or Submit Service Requests by Telephone or Online?*** 

&nbsp;&nbsp;&nbsp;&nbsp;***a. By Telephone:*** 

Certain service requests, including but not limited to obtaining current unit values may be made by telephone. You may reach our customer service representatives at 1-800-598-2019 on Business Days between the hours of 9:00 a.m. and 6:00 p.m. (Eastern Time).

&nbsp;&nbsp;&nbsp;&nbsp;***b. Online:*** 

Certain service requests, including but not limited to, transferring assets between Allocation Options and e-mailing the Registered Representative, may be made online. For online requests please visit www.newyorklife.com or the New York Life Mobile Application ("mobile application" or "mobile app"), available for download on the Apple App Store and Google Play Store, and enter your username and password. (See "THE POLICIES—Online Service at www.newyorklife.com and through the New York Life Mobile Application").

We make online services available at our discretion. In addition, availability of online services may be interrupted temporarily at certain times. We do not assume responsibility for any loss if the online service should become

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unavailable. E-mail inquiries that are non-transactional may be sent through www.newyorklife.com or the mobile application once they have passed all security protocols to identify the policyowner.

NYLIAC is not liable for any loss, cost or expense for action on instructions from authorized third parties which are believed to be genuine in accordance with our procedures. (See "THE POLICIES*—*Third Party and Registered Representative Actions"). You are responsible for and bear the consequence of their instructions and other actions, including exceeding any limits on transfers, taken by parties acting on your behalf. Transfer requests received after the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time, or received on a non-Business Day, will be priced as of the next Business Day.

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**NYLIAC And The Separate Accounts**

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***New York Life Insurance and Annuity Corporation***

The obligations under the policies (including Fixed Account and DCA Advantage Account obligations, death benefits, living benefits, or other benefits available under the policy) are obligations of NYLIAC and are subject to NYLIAC's claims-paying ability and financial strength. NYLIAC's business address is 51 Madison Avenue, New York, NY 10010.

***The Separate Accounts***

Separate Account III and Separate Account IV are segregated asset accounts we established to receive and invest premium payments paid under the policies and allocated to the Investment Divisions. The Investment Divisions, in turn, purchase shares of Portfolios.

Although the assets of the Separate Accounts belong to NYLIAC, these assets are held separately from our other assets. The Separate Accounts' assets may not be used to pay any liabilities of NYLIAC (except to the extent that assets in the Separate Accounts exceed the reserves and other liabilities of that Separate Account). The income, capital gains, and capital losses credited to, or charged against the Separate Accounts reflect the Separate Account's own investment experience and not the investment experience of NYLIAC's other assets. Therefore, the investment performance of the Separate Accounts is entirely independent of the investment performance of the Fixed Account, the DCA Advantage Account and any other separate account of NYLIAC.

NYLIAC is obligated to pay all amounts promised to investors under the policies.

Separate Account III and Separate Account IV are each divided into Investment Divisions, some of which may not be available under your policy. Premium payments allocated to the Investment Divisions are invested solely in the corresponding Portfolios of the relevant Fund. The Portfolios in which the Investment Divisions currently invest are listed in **APPENDIX 2A** of this Prospectus.

***The Portfolios***

The assets of each Portfolio are separate from the others, and each Portfolio has different investment objectives and policies. As a result, each 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. Accumulation Value allocated to the Investment Divisions (including the Asset Allocation) will vary based on the investment experience of the corresponding Portfolio in which the Investment Division invests. There is a risk of loss of the entire amount invested. 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.

**We offer no assurance that any of the Portfolios will attain their respective stated objectives.** 

The Portfolios also may make their shares available to certain other separate accounts funding variable life insurance policies offered by NYLIAC. This is called "mixed funding." The Portfolios also may make their shares available to separate accounts of insurance companies unaffiliated with NYLIAC. This is called "shared funding." Although we do not anticipate any inherent difficulties arising from mixed and shared funding, it is theoretically possible that, due to differences in tax treatment or other considerations, the interests of owners of various policies participating in a certain Portfolio might at some time be in conflict. In the event that any material conflicts arise from the use of the Portfolios for mixed and shared funding, we could be required to withdraw from a Portfolio. For more information about the risks of mixed and shared funding, please refer to the relevant Portfolio prospectus.

The 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 manages the NYLIM VP Funds Trust and that was a factor in its selection. Another factor that NYLIAC considers during the selection process is whether the Portfolio or an affiliate of the Fund will compensate NYLIAC for providing administrative, marketing, and support services that would otherwise be provided by the Portfolio, the Portfolio's investment adviser, or its distributor.

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We may receive payments or compensation from the Portfolios or their investment advisers, or from other service providers of the Portfolios (who may be affiliates of NYLIAC) in connection with administration, distribution, and other services we provide with respect to the Portfolios and their availability through the policies. These payments may be derived, in whole or in part, from the advisory fee charged by the Portfolio and deducted from Portfolio assets and/or from "Rule 12b-1" fees charged by the Portfolio and deducted from Portfolio assets. These payments are also a factor in our selection of 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 Portfolios. Policyowners, through their indirect investment in the Portfolios, bear the costs of these fees.

The amounts we receive may be substantial, may vary by Portfolio, and may depend on how much policy value is invested in the particular 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 Portfolios held by the Investment Divisions. We also receive compensation under various 12b-1 distribution services arrangements in amounts up to 0.25% annually of the aggregate net asset value of the shares of some of the 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 ("New York Life"), 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.

The Portfolios, along with their respective name, type (e.g., large cap equity fund, bond fund, asset allocation fund), investment adviser (and any sub-adviser(s)), current expenses, and performance are listed in **APPENDIX 2A**. More detailed information about the Portfolios is available in the prospectuses for the Portfolios, which may be amended from time to time and can be found online at https://dfinview.com/NewYorkLife/TAHD/premier. You can also request this information at no cost by contacting your Registered Representative, calling the VPSC at 1-800-598-2019 or by sending an email with your name and mailing address to PremierProspectus@newyorklife.com. You should read the Portfolios' prospectuses before deciding how to allocate premium payments to an Investment Division corresponding to a Portfolio.

***Asset Allocation Models***

The Asset Allocation Model program was discontinued as of May 1, 2020. As of May 1, 2020, you may not select an Asset Allocation Model or transfer from one Asset Allocation Model to another Asset Allocation Model. If any portion of your Accumulation Value is currently allocated to an Asset Allocation Model, you may continue to allocate all or a portion of your premium payments to such model. We will not reallocate your Accumulation Value or change your premium allocation instructions in response to these changes unless you direct us to do so. If, however, you transfer your entire allocation out of an Asset Allocation Model, you will not be able to transfer back into that model or transfer to any other Asset Allocation Model.

***Information for Policyowners Currently Allocated to an Asset Allocation Model***

Each Asset Allocation Model was designed to seek to achieve a different investment objective. The Asset Allocation Models are general in nature and are not tailored or personalized for you. The Asset Allocation Models are static but gains and/or losses from the Portfolios in a model will cause the model's original percentages to shift. However, amounts allocated to a model will be rebalanced to reflect the model's original percentages using the policy's Automatic Asset Reallocation ("AAR") feature, unless you opted not to have AAR applied to your policy. (See "DESCRIPTION OF BENEFITS*—*Automatic Asset Reallocation" for more information.) If you purchased the Guaranteed Investment Protection Rider or the Guaranteed Investment Protection Rider 2.0 ("GIPR" or "GIPR 2.0"), and have opted to allocate your premium payments to one of the available Asset Allocation Models, you cannot opt out of rebalancing, and your allocations to an Asset Allocation Model will be rebalanced quarterly to reflect the model's original percentages.

In addition, the Investment Divisions and allocation percentages for your model could change due to events such as mergers, substitutions, liquidations or closures. We will notify you in writing of any such events and seek your instructions on how you want your Accumulation Value or premium payments reallocated.

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If you wish to keep your policy's Accumulation Value allocated to an Asset Allocation Model, you should consult with your registered representative, who can help you evaluate whether it continues to be suitable and appropriate for you in light of your financial situation, risk tolerance, time horizon and investment objectives. While the Asset Allocation Models can facilitate asset allocation discussions and decisions between you and your registered representative, we have no discretionary authority or control over your investment decisions.

Reallocation can cause the Investment Divisions that make up a model to need to undertake efforts to raise cash for money flowing out of the Portfolios or vice versa. In order to raise cash, those Portfolios may need to sell assets at prices lower than otherwise expected, which can hurt Portfolio share prices. Moreover, large outflows of money from the Portfolios may increase the expenses attributable to the assets remaining in the Portfolios. These transactions and expenses can adversely affect the performance of the relevant Portfolios and of the Asset Allocation Models. In addition, these inflows and outflows may cause a Portfolio to hold a large portion of its assets in cash, which could detract from the achievement of the Portfolio's investment objective, particularly in periods of rising market prices. For additional information regarding the risks of investing in a particular Portfolio, see that Portfolio's prospectus.

Asset allocation does not guarantee that your Accumulation Value will increase or protect against losses in a declining market. Tools used to assess your risk tolerance, such as the Client Profile, could be less effective if your circumstances change over time. In addition, an Asset Allocation Model may not perform as intended. Therefore, it may not achieve its investment objective or reduce volatility. When considering whether to remain in an Asset Allocation Model, you should consider your other assets, income and investments in addition to this policy. An Asset Allocation Model may perform better or worse than any single investment option or any other combination of investment options. In addition, the timing of your investment and any rebalancing may affect performance. For additional information regarding the risks of investing in a particular Portfolio within the Asset Allocation Model, see that Portfolio's prospectus.

***Conflicts of Interest Relating to the Asset Allocation Models***

The Asset Allocation Models were designed in 2018 on our behalf by an unaffiliated third-party investment adviser, Franklin Templeton Fund Adviser, LLC ("FTFA"), an indirect, wholly-owned subsidiary of Franklin Resources, Inc. ("Franklin Resources"). FTFA's affiliated subadviser, Franklin Advisers, Inc. (successor by merger to QS Investors, LLC ("QS")), selected the initial composition of each Model Portfolio. The models are referred to herein as the "QS Models." The QS Models are no longer available for new investment. Earlier versions of the models were designed by New York Life Investment Management LLC, an affiliate of NYLIAC and the Investment Advisor to the NYLIM VP Funds Trust (the "NYL Models"). You can get information about each of the Asset Allocation Models by contacting your registered representative.

QS received a fee from NYLIAC to design the QS Models. While the QS Models were designed to offer you a convenient way to work with your registered representative in making allocation decisions, you should be aware that QS was subject to competing interests that may have influenced its design of the QS Models. For example, because QS and FTFA were affiliated with the LVIP ClearBridge Appreciation Fund, QS and FTFA may have benefited from including the LVIP ClearBridge Appreciation Fund in one or more of the QS Models. Payments from NYLIAC to FTFA and QS to design the QS Models may have also influenced QS in its selection of Investment Divisions affiliated with NYLIAC for inclusion in the models. QS considered many factors in selecting Investment Divisions for the QS Models, including, but not limited to, risk and return profile, prior investment performance and underlying fund fees.

New York Life Investment Management LLC ("New York Life Investments") was also subject to competing interests that impacted the composition of the QS Models as well as its design of the NYL Models. For example, because New York Life Investments receives fees for advising the NYLIM VP Funds Trust, it benefits from the inclusion of a significant percentage of these Investment Divisions in the QS Models and NYL Models. NYLIM VP Investment Divisions represent such a significant percentage of the QS Models and the NYL Models because they constitute the majority of Investment Divisions offered with the policy and are prevalent among the low – and moderate – risk Investment Divisions that make up those models.

In addition, New York Life Investments may not have included certain non-proprietary Investment Divisions in the NYL Models because their investment profile (e.g., sector-specific concentration or shifting asset composition) was determined to be incompatible with the risk and return profile of those models. Finally, New York Life Investments may have included Investment Divisions in a NYL Model based on asset class exposure and they may have also been selected over Investment Divisions with better past investment performance or lower fees.

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As noted above, we receive payments or compensation from the Portfolios or their Investment Advisers, or from other service providers of the Portfolios (who may be affiliates of NYLIAC) in connection with administration, distribution and other services that we provide with respect to the Portfolios and their availability through the policies. The amount of this revenue and how it is computed varies by Portfolio, may be significant, and may create conflicts of interest in the design of the QS Models and the NYL Models.

NYLIAC does not provide investment advice and does not recommend or endorse any Portfolios. NYLIAC is not responsible for choosing the Investment Divisions or the amounts allocated to each. 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.

Certain portfolios, generally referred to as "funds of funds" or "master-feeder arrangements," may invest all or substantially all their assets in portfolios of other funds. In such case, you will indirectly pay fees and expenses at both portfolio 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 cost 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.

Investment decisions should be based on a thorough investigation of all the information regarding the Portfolios that are available to you, including each Portfolio's prospectus, statement of additional information, and annual and semi-annual reports. Other sources, such as the Portfolio's website, provide more current information, including information about any regulatory actions or investigations relating to a Fund or Portfolio. After you select Portfolios for your initial premium, you should monitor and periodically re-evaluate your allocations to determine if they are still appropriate.

***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 can impose these fees, but government money market funds (that invest at least 99.5% of their assets in cash, U.S. government securities and/or repurchase agreements that are secured by cash or 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, surrenders, withdrawals and benefit payments from the portfolio.

***The Franklin Templeton Model Portfolios – Conflicts of Interest***

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"). FTFA, an indirect wholly-owned subsidiary of Franklin Resources, Inc., created the Model Portfolios for the exclusive use of NYLIAC's variable annuity and variable life insurance policyowners. 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.

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The Underlying Funds available to the Model Portfolios for investment are comprised primarily of the initial class or similar shares of the Portfolios available under your policy (except for (i) Portfolios that are themselves, funds of funds, and (ii) Portfolios that did not agree to sell their shares to the Model Portfolios). However, the Model Portfolios may also invest in noninsurance-dedicated mutual funds and ETFs.

FTFA's affiliated subadviser, Franklin Advisers, Inc. ("Franklin Advisers"), selected the initial composition of each Model Portfolio. Thereafter, Franklin Advisers manages 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 Portfolios available under your policy, the composition of the Underlying Funds available to the Model Portfolios for investment will likewise change. FTFA and Franklin Advisers 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 Franklin Advisers. 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 Franklin Advisers, Franklin Distributors, LLC ("Franklin Distributors"), 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 from Franklin Distributors, 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 Portfolios held directly by the NYLIAC Separate Accounts. (See "NYLIAC AND THE SEPARATE ACCOUNTS*—*The Portfolios" for more information about these payments).

The payments described above are a factor in our selection of the Portfolios, which in turn, are available to the Model Portfolios for investment. Policyowners, through their direct investment in the Model Portfolios and their indirect investment in the Underlying Funds, bear the costs of these fees. However, only FTFA and Franklin Advisers will determine the portion of the Model Portfolios' assets, if any, that are invested in particular Underlying Funds. FTFA and Franklin Advisers 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 unaffiliated Underlying Funds and NYLIAC.

FTFA and Franklin Advisers are also subject to competing interests that may influence their investment decisions with respect to the Model Portfolios. For example, FTFA is the investment manager for both the Model Portfolios and certain of the available Underlying Funds, and receives a management fee from those funds. FTFA and Franklin Advisers, 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 Underlying Fund, may be significant, and may create conflicts of interest in the selection of the Portfolios that are available to the Model Portfolios for investment.

***Additions, Deletions, or Substitutions of Investments***

NYLIAC retains the right, subject to any applicable law (including any required regulatory approval), to make additions to, deletions from, or substitutions for the Portfolio shares held by any Investment Division. NYLIAC reserves the right to eliminate the shares of any of the Portfolios and to substitute shares of another portfolio of a Fund, or of another registered open-end management investment company.

To the extent required by law, we will not make substitutions of shares attributable to your interest in an Investment Division until you have been notified of the change. This does not prevent the Separate Account from purchasing

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other securities for other series or classes of policies, or from processing a conversion between series or classes of policies on the basis of requests made by policyowners.

We may establish new Investment Divisions when we determine, in our sole discretion, that marketing, tax, investment, or other conditions so warrant. We will make any new Investment Divisions available to existing policyowners on a basis we determine. We may also eliminate one or more Investment Divisions, if we determine, in our sole discretion, that marketing, tax, investment, or other conditions warrant. Please note that any such changes could affect the performance of your investments.

In the event of any substitution or change in Investment Divisions, NYLIAC may, by appropriate endorsement, change the policies to reflect such substitution or change. We also reserve the right to: (a) operate the Separate Account as a management company under the Investment Company Act of 1940, (b) deregister it under such Act in the event such registration is no longer required, (c) combine it with one or more other separate accounts, and (d) restrict or eliminate the voting rights of persons having voting rights as to the Separate Account as permitted by law.

***Reinvestment***

We automatically reinvest all dividends and capital gain distributions from Portfolios in shares of the distributing Portfolio at their net asset value on the payable date.

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**The Policies**

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This is a flexible premium policy, which means additional premium payments can be made. The policy is issued on the lives of individual Annuitants. For single premium policies, this section is modified as indicated in APPENDIX 1 of this Prospectus.

The policies are variable. This means that the Accumulation Value will fluctuate based on the investment experience of the Investment Divisions or available Asset Allocation Model you select, as well as the interest credited on the Fixed Account Accumulation Value and the DCA Advantage Account Accumulation Value. NYLIAC does not guarantee the investment performance of the Separate Account or of the Portfolios. You bear the entire investment risk with respect to amounts allocated to the Investment Divisions of the Separate Account or an Asset Allocation Model. We offer no assurance that the investment objectives of the Investment Divisions or an Asset Allocation Model will be achieved. Accordingly, amounts allocated to the Investment Divisions of the Separate Account or an Asset Allocation Model are subject to the risks inherent in the securities markets and, specifically, to price fluctuations in the Portfolios' investments.

As the Owner of the policy, you have the right to (a) change a revocable Beneficiary, (b) name a new Owner (on Non-Qualified Policies only), (c) receive Income Payments, (d) name a Payee to receive Income Payments, and (e) transfer funds among the Investment Divisions. You cannot lose these rights. However, all rights of ownership cease upon your death. (Ownership changes are not permitted for Inherited IRA policies).

The current policyowner of a Non-Qualified Policy has the right to transfer ownership to another person(s) or entity. To transfer ownership, the policyowner must complete our approved "Transfer of Ownership" form in effect at the time of the request. This change, unless otherwise specified by you, will take effect as of the date you signed the form, subject to any payment we made or action we took before we received the form in Good Order. When this change takes effect, all rights of ownership in the Policy will pass to the new Owner. Changing the Owner of the Policy does not change an Annuitant or any Beneficiary. Federal law requires all financial institutions to obtain, verify, and record information that identifies each person or entity that becomes the owner of an existing policy. This means the new policyowner(s) will be required to provide their name, address, date of birth, and other identifying information. To complete a transfer of ownership, the new policyowner(s) may also be required to submit financial and suitability information to conform to our Sales Standards.

Certain provisions of the policies may be different than the general description in this Prospectus, and certain riders and options may not be available, because of legal requirements or restrictions in your state. See your policy for specific variations because any such state variations will be included in your policy or in riders or endorsements attached to your policy. See also "APPENDIX 3 – State Variations" for specific information that may be applicable for your state.

***Selecting the Variable Annuity That's Right for You***

In addition to the policies described in this Prospectus, we offer other variable annuities, each having different features, fees, and charges. Your registered representative can help you decide which is best for you based on your individual circumstances, time horizon, and policy feature preferences.

The availability of optional policy features may increase the cost of the policy. Therefore, when selecting a policy, you should consider what policy features you plan to use within your variable annuity. You should also consider the different surrender charge period associated with each policy in light of the length of time you plan to hold your policy (i.e., your time horizon). If you intend to make multiple contributions to your policy over time, you may want to consider a surrender charge period that is based on the Policy Date. If you intend to make a single contribution or limited contributions over time, you may want to consider a policy with a surrender charge period that is based on each premium payment. In addition to the surrender charges, you should also evaluate the available policy features and the different fees associated with each of the features and of the policy.

If you are considering exchanging an annuity or life insurance policy that you already own for a policy described in this Prospectus, you should be aware that your registered representative could have a financial incentive to offer you a new policy in place of the one you own. NYLIAC has procedures in place designed to ensure that the purchase of a policy is in your best interest. You should only exchange your policy if you determine, after comparing the features,

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fees, risks of both policies, and any fees or penalties to terminate the existing policy, that it is better for you to purchase the new policy rather than continue to own your existing policy.

You should consider the investment objectives, risks, charges and expenses of an investment carefully before investing. Both the product and underlying fund prospectuses contain this and other information about the variable annuities and underlying investment options. Your registered representative can provide you with prospectuses for one or more of these variable annuities and the underlying funds. Please read the prospectuses carefully before investing.

***Qualified and Non-Qualified Policies***

We designed the policies primarily for the accumulation of retirement savings, and to provide income at a future date by annuitizing the policy. We issue both Qualified and Non-Qualified Policies. Both types of policies offer tax-deferred accumulation. You may purchase a Non-Qualified Policy to provide for retirement income other than through a tax-qualified plan. You may purchase a Qualified Policy for use with any one of the tax-qualified plans listed below.

&nbsp;&nbsp;&nbsp;&nbsp;(1) TSAs purchased by employees of certain tax-exempt organizations and certain state-supported educational institutions, in each case in accordance with the employer's plan document and/or applicable tax requirements (see "FEDERAL TAX MATTERS—Qualified Policies—Important Information Regarding Final Code Section 403(b) Regulations"). We are no longer accepting contributions for policies issued in connection with ERISA 403(b) plans;

&nbsp;&nbsp;&nbsp;&nbsp;(2) Section 408 or 408A Individual Retirement Annuities (IRAs), including: IRAs, Roth IRAs, Inherited IRAs, SEP, and SIMPLE IRAs.

Please see "FEDERAL TAX MATTERS" for a detailed description of these plans.

If you are considering the purchase of a Qualified Policy or a Non-Qualified Policy to fund another type of tax-qualified retirement plan, such as a plan qualifying under Section 401(a) of the Code, you should be aware that this policy will fund a retirement plan that already provides tax deferral under the Code and there are fees and charges in an annuity that may not be included in other types of investments. Therefore, the tax deferral of the annuity does not provide additional benefits. However, this annuity is designed to provide certain payment guarantees and features other than tax deferral, some of which may not be available in other investments. These additional features and benefits include:

&nbsp;&nbsp;&nbsp;&nbsp;• A Standard Death Benefit, as explained in this Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;• The option for you to receive a guaranteed stream of Income Payments for life after you have owned the policy for one year.

&nbsp;&nbsp;&nbsp;&nbsp;• A Fixed Account (if available) that features a guaranteed fixed interest rate.

&nbsp;&nbsp;&nbsp;&nbsp;• An optional Interest Sweep feature that automatically transfers interest earned on monies in the Fixed Account to Investment Divisions offered under the policy.

&nbsp;&nbsp;&nbsp;&nbsp;• The flexibility to easily transfer money among Investment Divisions in the annuity managed by different investment managers and to have your investment mix automatically rebalanced periodically.

These features are explained in detail in this Prospectus. You should purchase this annuity with tax-qualified money because of the additional features the annuity provides and not for the tax deferral to which the tax-qualified plan is already entitled. You should consult with your tax or legal adviser to determine if the policy is suitable for your tax-qualified plan.

***Policy Application and Premium Payments***

We have discontinued sales of new policies, but we still accept new premium payments for in-force policies.

You may allocate premium payments in up to 18 of the Investment Divisions, some of which may not be available under your policy, as well as the DCA Advantage Account and the Fixed Account (if available). If in Good Order, we will credit subsequent premium payments to the policy at the close of the Business Day on which they are received by

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NYLIAC. You may increase or decrease the percentages of the premium payments (which must be in whole number percentages) allocated to each Allocation Option or the DCA Advantage Account at the time a premium payment is made.

We will apply any premium payments according to the allocation instructions we have on file at the time of the premium payment.

Unless we permit otherwise, the minimum initial premium payment is $4,000 for Qualified Policies and $5,000 for Non–Qualified Policies. You may make additional premium payments of at least $2,500 for Qualified Policies and $5,000 for Non–Qualified Policies, or such lower amount as we may permit at any time. For policies issued to persons age 75 or younger, additional premium payments can be made until 12 months after you reach age 75. For policies issued to persons age 76 to 80, additional premium payments can be made until 12 months after you reach age 80. The currently available methods of payment are direct payments to NYLIAC or any other method agreed to by us. The maximum aggregate amount of premium payments we accept is $2,000,000 without prior approval from NYLIAC. The maximum aggregate amount of premiums is $3,000,000 across all New York Life Premier and New York Life Premier II Variable Annuity policies for policies issued to persons age 76 to 80 under the same Social Security or Tax ID number. NYLIAC reserves the right to limit the dollar amount of any premium payment. You must allocate a minimum of $5,000 to the DCA Advantage Account.

For Qualified Policies, you may not make premium payments in any Policy Year that exceed the amount permitted by the plan or applicable law. For Inherited IRAs, additional premium payments are not permitted.

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

***Accumulation (Savings) Phase***

*Crediting of Premium Payments*

You can allocate a portion of each premium payment to one or more Investment Divisions, one Asset Allocation Model (if you are already allocated to such Model), the DCA Advantage Account, and/or the Fixed Account (if available). The minimum amount that you may allocate to any one Investment Division or the Fixed Account is $25. The minimum amount that you can allocate to an available Asset Allocation Model is $25 per Investment Division. You may also allocate all or a portion of each premium payment to the DCA Advantage Account. The minimum amount that you may allocate to the DCA Advantage Account is $5,000. If you select the DCA Advantage Account, any additional premium payment you make that is $5,000 or more will be allocated automatically to the DCA Advantage Account unless you instruct us otherwise. Any additional premium payment you make that is less than $5,000 will be allocated directly to your Allocation Options in accordance with the instructions we have on file and will not be allocated to the DCA Advantage Account. (See "THE DCA ADVANTAGE ACCOUNT.") We will allocate additional premium payments to the Allocation Options and/or the DCA Advantage Account at the close of the Business Day on which they are received by NYLIAC in Good Order. We will apply any Breakpoint Credits to the same Allocation Options and/or the DCA Advantage Account based on the same percentages used to allocate your premium payments.

We will credit that portion of each premium payment that you allocate (and any Breakpoint Credit) to an Investment Division (or to each of the Investment Divisions that make up an Asset Allocation Model), including from a premium payment or transfer, in the form of Accumulation Units. We cancel such Accumulation Units when we remove amounts from that Investment Division, including as a result of a withdrawal, transfer, policy surrender, and certain charges we may deduct. We determine the number of Accumulation Units we credit to a policy or cancel by dividing the dollar amount allocated to or removed from each Investment Division by the Accumulation Unit value for that Investment Division as of the close of the Business Day as of which we are making the credit or removal. The value of an Accumulation Unit will increase or decrease depending on the investment experience of the Portfolio in which the Investment Division invests (including Portfolio expenses), and the deduction of the Accumulation Value–based M&E Charge. We assess all policy and rider fees and charges applicable to Separate Account assets (other than Accumulation Value–based M&E Charges) by reducing the number of Accumulation Units credited to your policy. The number of Accumulation Units we credit to a policy will not, however, change as a result of any fluctuations in the value of an Accumulation Unit. (See "THE FIXED ACCOUNT" for a description of interest crediting.)

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*Valuation of Accumulation Units*

The value of Accumulation Units in each Investment Division will change daily to reflect the investment experience of the corresponding Portfolio as well as the deduction of the Accumulation Value–based M&E Charge. The Statement of Additional Information contains a detailed description of how we determine the Accumulation Unit values.

***Tax-Free Section 1035 Exchanges***

Subject to certain restrictions, you can make a tax-free exchange under Section 1035 of the Code of all or a portion of one annuity contract, or all of a life insurance policy for an annuity contract. Section 1035 also provides that an annuity contract may be exchanged in a tax-free transaction for a long-term care insurance policy. Before making an exchange, you should compare both contracts carefully. Remember that if you exchange a life insurance policy or annuity contract for the policy described in this Prospectus:

&nbsp;&nbsp;&nbsp;&nbsp;● you might have to pay a withdrawal charge on your previous policy or contract,

&nbsp;&nbsp;&nbsp;&nbsp;● there will be a new withdrawal charge period for this policy,

&nbsp;&nbsp;&nbsp;&nbsp;● other charges under this policy may be higher (or lower),

&nbsp;&nbsp;&nbsp;&nbsp;● the benefits may be different,

&nbsp;&nbsp;&nbsp;&nbsp;● you will no longer have access to any benefits from your previous policy (or the benefits may be different), and

&nbsp;&nbsp;&nbsp;&nbsp;● access to your cash value following a partial exchange may be subject to tax-related limitations.

If the exchange does not qualify for Section 1035 treatment, you also may have to pay federal income tax, including a 10% federal penalty tax, on the exchange. You should not exchange an existing life insurance policy or another annuity contract for this policy unless you determine that the exchange is in your best interest. NYLIAC may accept electronically transmitted instructions from your registered representative or from another insurance carrier for the purpose of effecting a 1035 exchange. **If you contemplate such an exchange, you should consult a tax advisor to discuss the potential tax effects of such a transaction.**

***Your Right to Cancel ("Free Look")***

The policies are no longer available for new sales. When you purchased your policy, you had the right to cancel the policy within 10 days of delivery of the policy or such longer period as required under state law. To cancel your policy, you would have had to return it and/or provide a written request for cancellation to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it. Unless otherwise required by state law, we would have promptly returned your Accumulation Value calculated as of the Business Day that either the registered representative through whom you purchased the policy or the VPSC received the policy along with a written request for cancellation in Good Order, but without any deduction for premium taxes or a surrender charge. This amount may be more or less than your premium payments depending upon the performance of the Allocation Options you have chosen to invest in during the Free Look period (including any interest credited by the Fixed Account, if applicable). This means that you bear the risk of any decline in the value of your policy due to investment performance during the Free Look period. In certain states, we are required to give you back your premium payments less any prior partial withdrawals. We will set forth the provision in your policy. See APPENDIX 3 — State Variations for more information about free look provisions in particular states (including California, Florida, New York and North Dakota).

If you had been entitled to receive the total of premium payments less any prior withdrawals, but your Accumulation Value is higher than that amount as of the date your written request for cancellation is received in Good Order, we would return the Accumulation Value, calculated as set forth above and without deductions for premium taxes or surrender charges.

***Issue Ages***

To purchase a Non–Qualified Policy you must not be older than age 80 (oldest Owner, if the policy is jointly owned). If the Owner of the policy is not a natural person, the Annuitant must not be older than age 80.

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For IRA, Roth IRA, Inherited IRA, SIMPLE IRA, TSA and SEP plans, you must also be the Annuitant. We can issue Qualified Policies if you are between the ages of 18 and 80 (between 0–80 for Inherited IRAs).

For policies issued to persons age 75 or younger, we will accept additional premium payments until 12 months after you reach age 75, unless otherwise limited by the terms of a particular plan. For policies issued to persons age 76 to 80, additional premium payments (up to a total of $1 million, including the initial premium payment) can be made until 12 months after you reach age 80, unless otherwise limited by the terms of a particular plan. The maximum aggregate amount of premium is $3,000,000 across all New York Life Premier and Premier II Variable Annuity policies that are issued to persons age 76 to 80 under the same Social Security or Tax ID number.

***Transfers***

You may transfer amounts among Investment Divisions of the Separate Account, an Asset Allocation Model if you are already allocated to such model, or to the Fixed Account any time prior to 30 days before the Annuity Commencement Date, although certain restrictions may apply with respect to transfers into the Fixed Account if you have chosen premium-based Base Contract charges. You may not make transfers into the DCA Advantage Account. If you transfer all of your Accumulation Value out of an Asset Allocation Model, you cannot transfer back into that Asset Allocation Model in the future. Transfers made from the DCA Advantage Account to the Investment Divisions are subject to different limitations (See "THE DCA ADVANTAGE ACCOUNT"). No transfers are allowed from the DCA Advantage Account to the Fixed Account. Except in connection with transfers made pursuant to traditional Dollar Cost Averaging, Automatic Asset Reallocation, Interest Sweep and the DCA Advantage Account, the minimum amount that you may transfer from one Investment Division to other Investment Divisions, an available Asset Allocation Model or to the Fixed Account is $500. Except for traditional Dollar Cost Averaging, Automatic Asset Reallocation, Interest Sweep and the DCA Advantage Account, if the value of the remaining Accumulation Units in an Investment Division would be less than $500 or the Fixed Account would be less than $25 after you make a transfer, we will transfer the entire value unless NYLIAC in its discretion determines otherwise. The amount(s) transferred to other Investment Divisions must be a minimum of $25 for each Investment Division.

Currently, we do not charge for transfers under the policy. However, we reserve the right to charge up to $30 for each transfer after the first 12 in a given Policy Year, subject to any applicable state insurance law requirements. Any transfer into or out of an available Asset Allocation Model counts as one transfer. Any transfer made in connection with traditional Dollar Cost Averaging, Automatic Asset Reallocation, Interest Sweep or the DCA Advantage Account will not count as a transfer toward the twelve-transfer limit. You may make transfers from the Fixed Account to the Investment Divisions in connection with Interest Sweep and in certain other situations. (See "THE FIXED ACCOUNT").

You can request a transfer by any of the three methods listed below. Transfer requests are subject to limitations and must be made in accordance with our established procedures. (See "THE POLICIES—Online Service at www.newyorklife.com and through the New York Life Mobile Application.").

&nbsp;&nbsp;&nbsp;&nbsp;● submit your request in writing on a form we approve to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this prospectus (or any other address we indicate to you in writing);

&nbsp;&nbsp;&nbsp;&nbsp;● speak to a Customer Service Representative at 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;● make your request through www.newyorklife.com or 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. NYLIAC is not liable for any loss, cost or expense for action based on telephone or electronic instructions which are believed to be genuine in accordance with these procedures. Transfer requests received after the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time or received on a non-Business Day, will be priced as of the next Business Day.

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***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; or

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

Currently, if you or someone acting on your behalf requests by telephone and/or electronically transfers into or out of one or more Investment Divisions or an available Asset Allocation Model on three or more days within any 60-day period, we will send you a letter notifying you that the 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 or an Asset Allocation Model 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 in writing through the U.S. mail or an overnight courier and received by the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. 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 out of the NYLIM VP U.S. Government Money Market Investment Division within six months of the issuance of a policy, and transfers made pursuant to traditional Dollar Cost Averaging, the DCA Advantage Account, Interest Sweep, and Automatic Asset Reallocation.

**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 this 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 Portfolio. We will reject or reverse, without prior notice, any transfer request into an Investment Division if the purchase of shares in the corresponding Portfolio is not accepted by the Portfolio for any reason. For transfers into multiple Investment Divisions and/or an available Asset Allocation Model, the entire transfer request will be rejected or reversed if any part of it is not accepted by any one of the Portfolios or is restricted for any reason. Standing allocation instructions into a Portfolio 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 other 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 Portfolio. We will provide you with written notice of any transfer request we reject, reverse or modify. You should read the Portfolio prospectuses for more details regarding their ability to refuse or restrict purchases or redemptions of their shares. In addition, a Portfolio 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.

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

&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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The underlying Portfolios may have adopted their own policies and procedures with respect to trading of their respective shares. The prospectuses for the underlying Portfolios, in effect at the time of any trade, describe any such policies and procedures. The trading policies and procedures of an underlying 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 in this prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The purchase and redemption orders received by the Portfolios reflect the aggregation and netting of multiple orders from owners of this policy and other variable policies issued by us. The nature of these combined orders may limit the underlying Portfolios' ability to apply their respective trading policies and procedures. In addition, if an underlying Portfolio believes that a combined order we submit may reflect one or more transfer requests from owners engaged in potentially harmful transfer activity, the underlying fund portfolio may reject the entire order and thereby prevent us from implementing any transfers that day. We do not generally expect this to happen. Alternatively, Portfolios may request information on individual policyowner transactions and may impose restrictions on individual policyowner transfer activity.

&nbsp;&nbsp;&nbsp;&nbsp;● Other insurance companies that invest in the 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 Investment Divisions correspond to the affected 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 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 a Portfolio to liquidate investments prematurely (or at an otherwise inopportune time) in order to pay withdrawals or transfers out of the 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 a Portfolio are made when, and if, the Portfolio's investments do not reflect an accurate value (sometimes referred to as "time-zone arbitrage" and "liquidity arbitrage").

***Speculative Investing***

Do not purchase the policy if you plan to use it, or any of its riders, for speculation, arbitrage, viatication or any other type of collective investment scheme. Your policy may not be traded on any stock exchange or secondary market. By purchasing the policy, you represent and warrant that you are not using the policy, or any of its riders, for speculation, arbitrage, viatication or any other type of collective investment scheme.

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

The online service at www.newyorklife.com or through 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

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www.newyorklife.com or through the mobile application. Electronic delivery is not available for policies that are owned by corporations, trusts or organizations at this time.

Through www.newyorklife.com or the mobile application you can get up-to-date information about your policy and request fund transfers, allocation changes and partial withdrawals. Policies that are jointly owned may not request transactions through www.newyorklife.com or the mobile application. We may revoke online service for certain policyowners (see "THE POLICIES—Limits on Transfers").

In order to obtain policy information online at www.newyorklife.com or through the mobile application which is available for download on the Apple App Store and Google Play Store, you are required to register for access. You will be required to register a unique Username and Password to gain access

We will use reasonable procedures to make sure that the instructions we receive through www.newyorklife.com or 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 www.newyorklife.com or through the mobile application that we believe are genuine. We will confirm all transactions.

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, online service at www.newyorklife.com or through the mobile application is open Monday through Friday, from 6 a.m. until 4 a.m., Saturday, from 6 a.m. until 2 a.m. and Sunday from 7 a.m. until 1 a.m. (Eastern Time).

By logging in at www.newyorklife.com or through the mobile application, you can conduct a number of transactions. These include managing your allocations, viewing details about your policy, changing your address, submitting policy transactions, uploading documents and forms, and downloading statements and other correspondence. You can see all of the transactions which can be conducted online or through the mobile application by logging in at www.newyorklife.com or through the mobile application.

We make the online service at www.newyorklife.com and through the mobile application available at our discretion. In addition, availability of online service may temporarily be interrupted at certain times. We do not assume responsibility for any loss while online service at www.newyorklife.com or through the mobile application is unavailable. If you are experiencing problems, you can send service requests to us at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

***Telephone Transactions***

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.

Currently, you can reach our customer service representatives at 1-800-598-2019 on Business Days between the hours of 9:00 a.m. and 6:00 p.m. (Eastern Time).

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 and/or by using our Interactive Voice Response (IVR) system:

&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 stop and reissue check on an outgoing payment;

&nbsp;&nbsp;&nbsp;&nbsp;● set up one-time electronic funds transfer for incoming payments;

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

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

&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 in the "CONTACTING NYLIAC" section of the prospectus.

***Third Party and Registered Representative Actions***

You may authorize a third party, including a joint policyowner, to have access to your policy information and to independently make transfers among Investment Divisions and/or the Fixed Account, allocation changes and other permitted transactions by telephone. To do so, you must send the VPSC a Telephone Authorization Form in Good Order to one of the addresses noted in the "CONTACTING NYLIAC" section of this Prospectus. We 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. See "THE POLICIES—Transfers" for information on how to transfer assets between Investment Divisions and/or an available Asset Allocation Model.

You may authorize us to accept electronic instructions from a registered representative or a registered service assistant assigned to your policy in order to make premium allocation updates, transfers among investment options, Automatic Asset Reallocation (AAR), partial withdrawals and changes to your investment objective and/or risk tolerance. (Your AAR may be cancelled if a premium allocation change or fund transfer is submitted on your behalf and the AAR is not also modified at that time to be consistent with your investment option transfer and premium allocation changes). You may also authorize us to accept telephone instructions from a registered representative to make transfers among investment options as well as updates to premium allocations, take partial withdrawals, cease a periodic partial withdrawal, and update Dollar Cost Averaging (DCA), DCA Advantage (DCAA) and Interest Sweep. To authorize the registered representative(s) or registered service assistants assigned to your policy to make premium allocations, electronic transfers or telephone transfers, you must send a completed Trading and Partial Withdrawal Authorization Form to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. You must provide a separate authorization on that form in order for your registered representative or the registered service assistant assigned to your policy to be able to make electronic or telephone partial withdrawals on your behalf or cease a periodic partial withdrawal. Any partial withdrawal is subject to dollar amount limits that we establish. Not all periodic partial withdrawals can be ceased by your registered representative or their registered service assistant. We may revoke trading authorization privileges for certain policyowners (See "THE POLICIES—Limits on Transfers"). Trading authorization may be elected, changed or canceled 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 action on instructions which are believed to be genuine in accordance with the procedures. As these parties act on your behalf, you are responsible for and bear the consequences of their instructions and other actions, including any limits on transfers.

We may choose to accept forms you have completed that your registered representative transmits to us electronically via our internal secured network. We will accept electronically-transmitted service forms only. For information on how to initiate a transfer between Investment Divisions, or request a withdrawal, please refer to "THE POLICIES––Transfers" or "DISTRIBUTIONS UNDER THE POLICY––Surrenders and Withdrawals––Partial Withdrawals." 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.

***Electronic Delivery***

We are required to send you, free of charge, an Initial Summary Prospectus and an Updating Summary Prospectus (as applicable), and any updates to such Summary Prospectus documents. If you selected e-delivery, we will still provide you, free of charge, paper copies of these documents upon request.

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Paper copies of a Portfolio's annual and semi-annual shareholder reports will not be sent by mail unless you specifically request paper copies of the reports from NYLIAC. Instead, the shareholder reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive the Portfolios' annual and semi-annual reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive any other communications from NYLIAC electronically by contacting the VPSC.

You may elect to receive all future annual and semi-annual financial reports in paper free of charge. You can inform NYLIAC that you wish to receive paper copies of those reports by contacting NYLIAC, as described in the "CONTACTING NYLIAC" section of this Prospectus. Your election to receive annual and semi-annual shareholder reports will apply to all Portfolios described herein.

**Records and Reports**

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NYLIAC will mail to you at your last known address of record, at least semi-annually after the first Policy Year, reports (or, if permitted, notice of online availability of reports; see "THE POLICIES––Electronic Delivery," above) containing information required under the federal securities laws or by any other applicable law or regulation. Generally, NYLIAC will promptly mail to you confirmation of any transactions involving the Separate Account. However, when we (i) process automatic rebalancing transactions through AAR, (ii) process automatic transfers from the DCA Advantage Account, (iii) receive premium payments on your behalf involving the Separate Account initiated through pre-authorized monthly deductions from banks, (iv) receive payments forwarded by your employer, or (v) receive other payments made by 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. **If you believe that a transaction has been processed incorrectly, it is your responsibility to contact us in writing and provide us with all relevant details. You must provide us with the nature of the error, the date of the error and any other relevant details. It is important that you review your confirmation and quarterly statements carefully and promptly report any errors and discrepancies to us, preferably, within fifteen (15) days of the date of the statement in question. It is important that you inform NYLIAC of an address change so that you can receive these policy statements (See "CONTACTING NYLIAC"). In the event your statement is returned from the U.S. Postal Service as undeliverable, we reserve the right to suspend mailing future correspondence and also suspend current transaction processing until an accurate address is obtained. In addition, no new service requests can be processed until a valid current address is provided.**

***Designation of Beneficiary***

You may select one or more Beneficiaries and name them in the application. Thereafter, before the Annuity Commencement Date and while the Annuitant(s) is living, you may change the Beneficiary by written notice in Good Order sent to one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus, at www.newyorklife.com or through the mobile application, or you can utilize any other method we make available. If, before the Annuity Commencement Date, the Annuitant dies while you are still living, you will become the new Annuitant under the policy. If you are the Annuitant, the proceeds pass to your Beneficiary.

If no Beneficiary for any amount payable, or for a stated share, survives you, the right to this amount or this share will pass to your estate. Payment of the proceeds will be made in a single sum to your estate. If any Beneficiary dies at the same time as you, or within fifteen (15) days after your death, but before we receive proof of death and all claim information in Good Order, we will pay any amount payable as though the Beneficiary died before you did. If you have designated only one Beneficiary, this could mean that the proceeds will be payable to your estate.

Every state has unclaimed property laws, which generally declare an annuity policy to be abandoned after a period of inactivity of three to five years from the policy's Annuity Commencement Date or the date the death benefit is due and payable. If, after a thorough search, we are unable to locate you after your policy's Annuity Commencement Date, or if we are unable to locate your Beneficiary if you die before the Annuity Commencement Date, or you or the Beneficiary do not come forward to claim the policy proceeds or death benefit in a timely manner, the proceeds or death benefit may be paid to the abandoned property division or unclaimed property office of the state in which the beneficiary or the Annuitant last resided, as shown on our books and records, or to Delaware (our state of domicile).

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This escheatment is revocable, however, and the state is obligated to pay back the escheated amount if you or your beneficiary steps forward to claim it with the proper 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 the VPSC at 1-800-598-2019 or send written notice to one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus.

***Delay of Payments***

We will pay any amounts due from the Separate Account under the policy within seven (7) days of the date the VPSC receives all documents (including documents necessary to comply with federal and state tax law) in connection with a payment request in Good Order at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

*Situations where payments may be delayed:* 

&nbsp;&nbsp;&nbsp;&nbsp;1. We may delay payment of any amounts due from the Separate Account under the policy and transfers among Investment Divisions during any period that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The New York Stock Exchange ("NYSE") is closed, for other than usual weekends or holidays; trading is restricted by the Securities and Exchange Commission ("SEC"); or the SEC declares that an emergency exists as a result of which it is not reasonably practical to dispose of securities in a Portfolio or to fairly determine the value of the assets of a Portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The SEC, by order, permits us to delay payment in order to protect our policyowners; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The check used to pay the premium has not cleared through the banking system. This may take up to fifteen (15) days.

&nbsp;&nbsp;&nbsp;&nbsp;2. We may delay payment of any amounts due from the Fixed Account and/or the DCA Advantage Account. When permitted by law, we may defer payment of any partial withdrawal or full surrender request for up to six months from the date of surrender from the Fixed Account and/or the DCA Advantage Account. In most jurisdictions, we will pay interest on any amount deferred for thirty days or more. If we defer payments, we will pay interest at the rate specified by the insurance department of the state where your policy is issued from the Business Day that we receive your partial withdrawal or surrender request in Good Order. This rate will be at least 1.0% per year. For more information about when interest is payable for policies issued in New York, see APPENDIX 3.

&nbsp;&nbsp;&nbsp;&nbsp;3. Federal laws enacted 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 to a particular policy(ies), we would not be allowed to pay any request for transfers, partial withdrawals, surrenders or death benefits. If a policy or an account is frozen, the Accumulation Value would be moved to a special segregated interest-bearing account and held in that account until we receive instructions from the appropriate federal regulator.

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**Benefits Available Under The Policies**

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The following tables summarize information about the benefits available under the policy.

**STANDARD DEATH BENEFIT**

**(automatically included with the policy)** 

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Standard Death** <br> **Benefit**<br>| Guarantees your <br> beneficiaries will receive a <br> benefit at least equal to the <br> greater of: (i) your <br> Accumulation Value, less any <br> outstanding loan balance; or <br> (ii) the Adjusted Death <br> Benefit Premium Payments.<br>| No additional charge | •Withdrawals could <br> significantly reduce the <br> benefit (possibly by an <br> amount substantially <br> greater than the actual <br> amount withdrawn).<br>|

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**OPTIONAL DEATH BENEFITS AVAILABLE FOR A FEE** 

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Annual Death** <br> **Benefit Reset** <br> **(ADBR) Rider**<br>| Provides a new locked–in <br> higher death benefit on each <br> year from the Policy Date <br> ("Reset Anniversary"), if your <br> investments increase in <br> value.<br>| **Maximum Charge:** 1.00%<br>(Charge calculated as an <br> annualized percentage of the <br> ADBR Reset Value as of the <br> last Policy Anniversary, <br> deducted quarterly)<br>| •Only available at the time <br> of application to <br> policyowners aged 75 or <br> younger.<br>•Resets will continue on <br> Reset Anniversaries until <br> the Owner (or Annuitant if <br> the Owner is not a natural <br> person) is age 80.<br>•Resets will terminate after:<br> (i) the owner's death (if the <br> owner is a natural person),<br> (ii) the death of any grantor <br> (for grantor trust owned <br> policies), or<br> (iii) the death of the <br> Annuitant (if the owner is <br> not a natural person or a <br> grantor trust).<br>•In certain jurisdictions, an <br> ownership change or <br> assignment will terminate <br> the rider.<br>•Withdrawals could <br> significantly reduce the <br> benefit (possibly by an <br> amount substantially <br> greater than the actual <br> amount withdrawn).<br>•You cannot cancel the rider <br> without surrendering the <br>|

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  |  |  | policy. |
| **Enhanced** <br> **Beneficiary Benefit** <br> **(EBB) Rider**<br>| Pays an additional death <br> benefit amount to your <br> beneficiary(ies) if you die <br> before the Annuity <br> Commencement Date. The <br> additional amount is a <br> percentage of any gain in the <br> policy when the death benefit <br> is calculated. The percentage <br> is 50% for an owner age 70 <br> or younger at the date of <br> issue; and 25% where the <br> owner is age 71 to 75.<br>| **Maximum Charge:** 1.00%<br>(Charge calculated as an <br> annualized percentage of the <br> Accumulation Value, <br> deducted on a quarterly <br> basis).<br>| •Only available at the time <br> of application.<br>•Withdrawals could <br> significantly reduce the <br> benefit (possibly by an <br> amount substantially <br> greater than the actual <br> amount withdrawn).<br>•No benefit is paid if:<br> (i) There is no gain; or<br> (ii) The policy's <br> Accumulation Value is less <br> than your premium <br> payments made and not <br> previously withdrawn; or<br> (iii) The rider has ended or <br> terminated.<br>•You cannot cancel the rider <br> without surrendering the <br> policy.<br>•You will forfeit any benefits <br> under the rider if you elect <br> to receive Income <br> Payments, or surrender or <br> transfer your policy.<br>|
| **Enhanced Spousal** <br> **Continuance Rider**<br>| Upon your death prior to the <br> Annuity Commencement <br> Date, allows spouse to elect <br> to continue the policy as the <br> new owner.<br>| None (included with the EBB) | •Subject to state availability <br> and only included if you <br> purchased the EBB Rider <br> at the time of application.<br>•Can only be elected if the <br> spouse is the sole primary <br> Beneficiary.<br>•Terminates if you <br> surrender the policy, if <br> Income Payments begin, if <br> it has been exercised, or if <br> you transfer ownership to <br> someone other than your <br> spouse.<br>•You cannot cancel the rider <br> without surrendering the <br> policy.<br>|

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**OPTIONAL LIVING BENEFITS AVAILABLE FOR A FEE** 

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Investment** <br> **Protection Plan**<br>| Protects your investment <br> against loss after a ten (10)<br>| **Maximum Current:** 1.00% <br> (for riders applied for before<br>| •Restricts the availability of <br> certain investment options <br>|

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **("IPP") Rider (Only** <br> **available with** <br> **polices purchased** <br> **before July 16,** <br> **2012)**<br>| year Holding Period. Gives <br> you a one–time option to <br> surrender your policy and <br> receive the greater of your <br> Accumulation Value or the <br> guaranteed amount.<br>You may request to reset the <br> guaranteed amount under <br> certain circumstances, if your <br> investments increase in value <br> (a Rider Reset). A Rider <br> Reset will start a new <br> ten-year holding period.<br>| February 15, 2010);<br>1.25% (for riders applied for <br> before February 15, 2010);<br>(as an annualized <br> percentage of the <br> guaranteed amount, <br> deducted quarterly).<br>Maximum Rider Risk Charge <br> Adjustment (cancellation <br> charge): 2.00% (one time <br> charge, calculated as a <br> percentage of the <br> guaranteed amount).<br>| if you select this rider on or <br> after February 15, 2010.<br>•Provides no benefit if you <br> surrender the policy before <br> the end of the ten–year <br> holding period.<br>•A Rider Reset starts a new <br> ten–year holding period.<br>•A Rider Reset starts a new <br> Holding Period. New <br> annual charges may apply <br> after you elect a Rider <br> Reset.<br>•Rider Resets take effect on <br> the Policy Anniversary <br> immediately following the <br> date we receive your reset <br> request in writing. Upon <br> reset, the amount <br> guaranteed will equal the <br> Accumulation Value in the <br> next Policy Anniversary, <br> less proportional <br> withdrawals thereafter.<br>•Withdrawals could <br> significantly reduce the <br> benefit (possibly by more <br> than the actual amount <br> withdrawn).<br>•We apply a one-time <br> cancellation charge if you <br> decide to cancel the rider <br> (Rider Risk Charge <br> Adjustment).<br>•The rider can only be <br> exercised prior to the <br> Annuity Commencement <br> Date.<br>•**You must surrender the** <br> **policy to receive the** <br> **benefit**.<br>|

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

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Investment** <br> **Protection Plan II** <br> **("IPP II") Rider** <br> **(Only available with** <br> **polices purchased** <br> **before May 1, 2013)**<br>| Protects your investment <br> against loss after a twelve <br> (12) year Holding Period. <br> Gives you a one–time option <br> for an adjustment to your <br> Accumulation Value (to <br> increase it to the guaranteed<br>| **Maximum Charge:** 1.50%<br>(as an annualized <br> percentage of the <br> guaranteed amount).<br>Maximum Rider Risk Charge<br>| •Only available at the time <br> of application.<br>•Restricts the availability of <br> certain investment options<br>•Provides no benefit if you <br> surrender the policy before <br> the end of the twelve <br>|

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| | | |
|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| amount, if greater, on the <br> 12<sup>th</sup> policy anniversary<br>You may request to reset the <br> guaranteed amount under <br> certain circumstances, if your <br> investments increase in value <br> (a Rider Reset). A Rider <br> Reset will start a new <br> 12-year holding period.<br>| Adjustment (cancellation <br> charge): 2.00% (one time <br> charge, calculated as a <br> percentage of the <br> guaranteed amount).<br>| (12) year Holding Period.<br> •A Rider Reset starts a new <br> twelve-year Holding Period.<br>•A Rider Reset starts a new <br> Holding Period. New <br> annual charges may apply <br> after you elect a Rider <br> Reset.<br>•Rider Resets are only <br> available until the oldest <br> Owner and Annuitant reach <br> age 78.<br>•You should not select this <br> rider unless you intend to <br> keep the policy for at least <br> 12 years.<br>•Withdrawals could <br> significantly reduce the <br> benefit (possibly by more <br> than the actual amount <br> withdrawn).<br>•We apply a one-time <br> charge if you cancel the <br> rider (Rider Risk Charge <br> Adjustment).<br>|

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

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| | | |
|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Guaranteed** <br> **Investment** <br> **Protection ("GIPR")** <br> **Rider (only** <br> **available with** <br> **polices purchased** <br> **before May 1, 2014)**<br>Protects your investment <br> against loss after a twelve <br> (12) year Holding Period. <br> Gives you a one–time option <br> for an adjustment to your <br> Accumulation Value (to <br> increase it to the guaranteed <br> amount, if greater, on the <br> 12<sup>th</sup> policy anniversary<br>You may request to reset the <br> guaranteed amount under <br> certain circumstances, if your <br> investments increase in value <br> (a GIPR Rider Reset). A <br> GIPR Rider Reset will start a <br> new 12-year holding period.<br>| **Maximum Charge:** 1.50%<br>(as an annualized <br> percentage of the <br> guaranteed amount, <br> deducted quarterly).<br>Maximum Rider Risk Charge <br> Adjustment (cancellation <br> charge): 2.00% (one time <br> charge, calculated as a <br> percentage of the <br> guaranteed amount).<br>| •Only available at the time <br> of application.<br>•Restricts the availability of <br> certain investment options. <br> See APPENDIX 2C<br>•Provides no benefit if you <br> surrender the policy before <br> the end of the twelve <br> (12) year Holding Period.<br>•A GIPR Rider Reset starts <br> a new twelve-year Holding <br> Period.<br>•GIPR Rider Resets are <br> only available until the <br> oldest Owner and <br> Annuitant reach are age 78 <br> or younger.<br>•We can suspend or <br> discontinue the ability to <br> reset.<br>•You should not select this <br> rider unless you intend to <br>|

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  |  |  | keep the policy for at least <br> 12 years.<br>•Withdrawals could <br> significantly reduce the <br> benefit (possibly by more <br> than the actual amount <br> withdrawn).<br>•We apply a one-time <br> charge if you cancel the <br> rider (Rider Risk Charge <br> Adjustment).<br>•An ownership change or <br> assignment will terminate <br> the benefit (except in <br> California, Florida and New <br> York).<br>•Can only be purchased at <br> policy issue.<br>|

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

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Guaranteed** <br> **Investment** <br> **Protection Rider 2.0** <br> **("GIPR 2.0") (only** <br> **available with** <br> **polices purchased** <br> **on or after May 1,** <br> **2014)**<br>| Protects your investment <br> from loss for a specified <br> holding period. If, after a <br> specified holding period, your <br> Accumulation Value is less <br> than the amount guaranteed, <br> we will make a one-time <br> increase to your <br> Accumulation Value to make <br> it equal to the guaranteed <br> amount.<br>You may request to reset the <br> guaranteed amount (a GIPR <br> 2.0 Rider Reset) under <br> certain circumstances A <br> GIPR 2.0 Rider Reset will <br> start a new holding period.<br>Includes a GIPR 2.0 Death <br> Benefit which is payable <br> upon the death of the Owner <br> if the policyowner dies within <br> two Policy Years of the last <br> day of the GIPR 2.0 Rider <br> term then in effect, the death <br> benefit will equal the <br> guaranteed amount for that <br> Rider term, if that<br>| **Maximum Charge:** 2.00%;<br>(as an annualized <br> percentage of the <br> guaranteed amount, <br> deducted quarterly).<br>Maximum Rider Risk Charge <br> Adjustment (cancellation <br> charge): 2.00% (one time <br> charge, calculated as a <br> percentage of the <br> guaranteed amount).<br>| •Only available at the time <br> of application.<br>•Restricts the availability of <br> certain investment options. <br> See APPENDIX 2C<br>•Provides no benefit if you <br> surrender the policy before <br> the end of your chosen <br> holding period.<br>•A GIPR 2.0 Rider Reset <br> starts a new holding <br> period. New annual <br> charges may apply after <br> you elect a GIPR 2.0 Rider <br> Reset<br>•We can suspend or <br> discontinue the ability to <br> reset.<br>•GIPR 2.0 Rider Resets are <br> only available until the <br> oldest Owner are age 75 or <br> younger, or age 70 or <br> younger for the 20-year <br> term.<br>•You should not select this <br> rider unless you intend to <br> keep the policy for at least <br> as long as the holding <br> period you selected. <br>|

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  | guaranteed amount is higher <br> than the Standard Death <br>Benefit on the date of death.<br>|  | •Withdrawals could <br> significantly reduce or <br> terminate the benefit <br> (possibly by more than the <br> amount greater than the <br> actual amount withdrawn).<br>•We apply a one-time <br> charge if you cancel the <br> rider (Rider Risk Charge <br> Adjustment).<br>•An ownership change or <br> assignment will terminate <br> the benefit (except in <br> California, Florida and New <br> York).<br>|

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**OTHER OPTIONAL BENEFITS INCLUDED WITH ALL POLICIES AT NO ADDITIONAL COST** 

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Living Needs** <br> **Benefit /** <br> **Unemployment** <br> **Rider**<br>| Waives Surrender Charges if <br> the Owner experiences <br> certain "qualifying events" <br> such as: (i) confinement to a <br> health care facility for 60 <br> consecutive days; <br> (ii) terminal illness; <br> (iii) disability. If the Owner <br> becomes unemployed, the <br> rider waives Surrender <br> Charges on a one-time <br> withdrawal of up to 50% of <br> your Accumulation Value.<br>|  | •Policy must have been in <br> force for at least one year <br> and have a minimum <br> Accumulation Value of <br> $5,000.<br>•Qualifying Event (as <br> defined in the rider) must <br> occur after the Policy Date.<br>•Disability portion does not <br> apply to withdrawals after <br> the Owner's 66th birthday.<br>•Not available if any Owner <br> has attained age 86 on the <br> Policy Date.<br>•Unemployment must be for <br> at least 60 consecutive <br> days.<br>•A determination letter from <br> your state's Department of <br> Labor is required for <br> unemployment benefit.<br>•If the Owner(s) is not a <br> natural person, all <br> restrictions and benefits of <br> the rider are based on the <br> Annuitant.<br>•Rider benefits and <br> requirements to qualify for <br> the rider benefits may not <br> be the same in all <br>|

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  |  |  | jurisdictions. |
| **Living Needs** <br> **Benefit Rider**<br>| Increases the amount that <br> can be withdrawn from your <br> policy without a surrender <br> charge if the Owner <br> experiences certain <br> "qualifying events" such as: <br> (i) confinement to a health <br> care facility for 60 <br> consecutive days; <br> (ii) terminal illness; or <br> (iii) disability.<br>|  | •Policy must have been in <br> force for at least one year <br> and have a minimum <br> Accumulation Value of <br> $5,000.<br>•Qualifying Event (as <br> defined in the rider) must <br> occur after the Policy Date.<br>•Withdrawals will be taxable <br> to the extent gain and, prior <br> to 59½, may be subject to <br> a 10% IRS penalty.<br>•To qualify for the disability <br> benefit, the Annuitant must <br> be classified as disabled by <br> the Social Security <br> Administration.<br>•Owner no longer eligible <br> for the disability benefit <br> once the Annuitant begins <br> collecting Social Security <br> benefits.<br>•Not available if any Owner <br> has attained age 86 on the <br> Policy Date.<br>|
| **Unemployment** <br> **Rider**<br>| Increases the amount that <br> can be withdrawn from your <br> policy without a surrender <br> charge to 50% of the <br> Accumulation Value if the <br> Owner becomes <br> unemployed.<br>|  | •Can only be used once.<br> •Policy must have been in <br> force for at least one year <br> and have a minimum <br> Accumulation Value of <br> $5,000.<br>•Unemployment must be for <br> at least 60 consecutive <br> days.<br>•Withdrawals will be taxable <br> to the extent gain and, prior <br> to 59½, may be subject to <br> a 10% IRS penalty.<br>•Must submit state's <br> Department of Labor <br> determination letter that <br> you are qualified for and <br> receiving unemployment <br> benefits.<br>|
| **Breakpoint Credit** <br> **Rider**<br>| Applies a credit, called a <br> Breakpoint Credit, to the <br> portion of a premium <br> payment that exceeds <br> $1,000,000.<br>|  | •Available only for policies <br> purchased before July 1, <br> 2013.<br>•Credit applied at the time <br> of premium payment. <br>|

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Automatic Asset** <br> **Reallocation**<br>| Automatically rebalances <br> your Variable Accumulation <br> Value (either quarterly, <br> semi–annually, or annually) <br> to maintain the percentage <br> allocated to each Investment <br> Division at a pre–set level.<br>|  | •Cannot be used with the <br> traditional Dollar Cost <br> Averaging option.<br>•You must have a minimum <br> Accumulation Value of <br> $2,500 to elect Automatic <br> Asset Reallocation, and a <br> minimum of $2,500 to <br> continue it as scheduled.<br>|
| **Traditional Dollar** <br> **Cost Averaging**<br>| Automatically transfers a <br> specific amount of money <br> from any Investment Division <br> to any combination of <br> Investment Divisions and/or <br> Fixed Account at set <br> intervals.<br>|  | •Cannot be used with the <br> Automatic Asset <br> Reallocation option, or with <br> an investment protection <br> rider.<br>•For premium based M&E <br> Charge policies, amounts <br> cannot be transferred to <br> the Fixed Account (if <br> applicable).<br>•You must have a minimum <br> Accumulation Value of <br> $2,500 to elect this option, <br> and a minimum of $2,000 <br> to continue as scheduled.<br>|
| **The DCA** <br> **Advantage Account**<br>| Allows you to set up <br> automatic dollar cost <br> averaging using the DCA <br> Advantage Account when an <br> initial premium payment or a <br> subsequent premium <br> payment is made. The DCA <br> Advantage Account transfers <br> amounts automatically to the <br> Investment Divisions you <br> choose in six monthly <br> increments and pays you <br> interest on amounts <br> remaining in the DCA <br> Advantage Account.<br>|  | •DCA Advantage Account <br> duration may not extend <br> beyond the Annuity <br> Commencement Date.<br>•You may not have more <br> than one DCA Advantage <br> Account open at the same <br> time.<br>•You must allocate a <br> minimum of $5,000 to the <br> DCA Advantage Account; <br> any premium payment less <br> than $5,000 will be <br> allocated directly to the <br> Investment Divisions in <br> accordance with the <br> instructions we have on <br> file.<br>•You cannot make transfers <br> into the DCA Advantage <br> Account from any <br> Allocation Option.<br>•You may not make <br> transfers from the DCA <br> Advantage Account into the <br> Fixed Account.<br>•The annual effective  |

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  |  |  | interest rate for the DCA <br> Advantage Account shown <br> on your Policy Data Page <br> applies only to your initial <br> premium payment. Interest <br> rates applied to <br> subsequent premium <br> payments allocated to the <br> DCA Advantage Account <br> may differ.<br>•The benefits payable under <br> the DCA Advantage <br> Account (including principal <br> and interest) are payable <br> from NYLIAC's general <br> account and are subject to <br> its claims-paying ability.<br>|
| **Interest Sweep** | Automatically transfers <br> interest earned on the Fixed <br> Account to one or any <br> combination of Investment <br> Divisions.<br>|  | •Frequency of the transfers <br> can be monthly, quarterly, <br> semi–annually, or annually.<br>•You must have a minimum <br> of $2,500 in the Fixed <br> Account to elect this option <br> (but this amount may be <br> reduced at our discretion) <br> and a minimum of $2,000 <br> to continue as scheduled.<br>|

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**Description of Benefits**

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***The Standard Death Benefit – Death Before Annuity Commencement***

Unless amended by any rider attached to the policy, if the Owner dies prior to the Annuity Commencement Date, we will pay the Standard Death Benefit amount as proceeds to the designated Beneficiary(ies), as of the date the VPSC receives proof of death and all other required information in Good Order at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. Generally, NYLIAC will not issue a policy to joint owners. However, if NYLIAC made an exception and issued a jointly owned policy, ownership rights and privileges under the policy must be exercised jointly and benefits under the policy will be paid upon the death of any joint owner, unless the surviving spouse has been designated the sole primary beneficiary. In that case, the surviving spouse can choose to continue the policy as discussed below. (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.") For policies owned by a grantor trust, all of whose grantors are individuals, benefits will be paid upon the death of any grantor. The Standard Death Benefit amount will be the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Accumulation Value, less any outstanding loan balance; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the Adjusted Death Benefit Premium Payments.

If more than one Beneficiary is named, each Beneficiary will be paid a pro rata portion from each Investment Division, the Fixed Account and the DCA Advantage Account, if applicable, in which the policy is invested as of the date we receive proof of death and all requirements necessary to make the payment to that Beneficiary. The remaining balance in the policy after paying each Beneficiary will remain in each Allocation Option in which the policy was invested as of the date we received due proof of death in Good Order. We will keep the remaining balance in the policy to pay the other Beneficiaries. Due to market fluctuations, the remaining Accumulation Value may increase or decrease and we may pay subsequent Beneficiaries a different amount. Beneficiary(ies) may not make transfers between Investment Divisions of the Separate Account, the Fixed Account or any other investment option that we may offer at any time.

We will make payments in a lump sum to the Beneficiary unless you have elected or the Beneficiary elects otherwise in a signed written notice in Good Order. If such an election is properly made, we will apply all or part of these proceeds:

&nbsp;&nbsp;&nbsp;&nbsp;(i) under a life Income Payment option to provide an immediate annuity for the Beneficiary who will be the policyowner and Annuitant; or

&nbsp;&nbsp;&nbsp;&nbsp;(ii) under another Income Payment option we may offer at the time.

Payments under the annuity or under any other method of payment we make available must be for the life of the Beneficiary, or for a number of years that is not more than the life expectancy of the Beneficiary at the time of the policyowner's death (as determined for federal tax purposes), and must begin within one year after the policyowner's death. (See "ANNUITY PAYMENTS (THE INCOME PHASE)—Income Payments.")

If your spouse (as defined under Federal law) is designated as the sole primary Beneficiary, we can pay the proceeds to the surviving spouse if you die before the Annuity Commencement Date or the policy can continue with the surviving spouse as (a) the new policyowner and, (b) the Annuitant, if you were the Annuitant. Please note: if your spouse is not designated as the sole primary beneficiary, when you die the death benefit will be paid to the beneficiary(ies) you named, even if your spouse was the joint owner of the policy. For policies with one Annuitant, if the Annuitant is not an Owner and the Annuitant dies before the Annuity Commencement Date, when we receive proof of death for the Annuitant, the Owner will become the Annuitant, and the policy will continue. If the policy is jointly owned, the first Owner named will become the Annuitant. For more information about spousal continuance for policies issued in New Jersey, see *"*APPENDIX 3 – State Variations*".* 

We will make any distribution or application of policy proceeds within 7 days after the VPSC receives all documents (including documents necessary to comply with federal and state tax law) in connection with the event or election that causes the distribution to take place at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus, subject to postponement in certain circumstances. (See "THE POLICIES—Delay of Payments.")

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*How the Standard Death Benefit is Calculated* 

Here is an example of how the Standard Death Benefit is calculated.

Assume that:

&nbsp;&nbsp;&nbsp;&nbsp;(1) You purchase this policy with a $200,000 premium payment;

&nbsp;&nbsp;&nbsp;&nbsp;(2) A $20,000 withdrawal is made at the end of the second Policy Year, and the Accumulation Value immediately preceding the withdrawal is $240,000;

&nbsp;&nbsp;&nbsp;&nbsp;(3) You die in the third Policy Year, and the Accumulation Value upon death is $175,000

At issue, the Adjusted Death Benefit Premium Payments are equal to $200,000.

Due to the $20,000 withdrawal at the end of the second Policy Year, the Adjusted Death Benefit Premium Payments were reduced by $16,666.67, calculated as follows: ($20,000 / $240,000) \* $200,000 = $16,666.67.

Upon death in the third policy year, the Standard Death Benefit is $183,333.33, which is the greater of:

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

the Accumulation Value upon death

= **$175,000, or** 

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

Premium payments less any Return of Premium Death Benefit Proportional Withdrawal;

= **$183,333.33** (calculated as follows: $200,000 - $16,666.67 = $183,333.33)

The formula guarantees that the amount we pay will at least equal the sum of all premium payments (less any proportional reductions due to partial withdrawals and surrender charges on such partial withdrawals), independent of the investment experience of the Separate Account.

In this example, your Beneficiary would receive **$183,333.33**

***Annual Death Benefit Reset Rider***

You may enhance your policy's Standard Death Benefit by purchasing the optional ADBR Rider. The ADBR Rider was only available at the time of application, to policyowners aged 75 or younger. The ADBR Rider was not available with the EBB Rider in the State of New Jersey. You cannot cancel the ADBR Rider without surrendering your policy. If you purchased the ADBR and you die prior to the Annuity Commencement Date, we will pay an amount as proceeds to the designated Beneficiary, as of the date we receive proof of death and all requirements necessary to make the payment at the VPSC. For policies owned by a grantor trust, all of whose grantors are individuals, benefits will be paid upon the death of any grantor. With this rider, your death benefit will be the greatest of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Standard Death Benefit payable under the policy (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement"); or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the "ADBR Reset Value", as defined in the next paragraph, plus any additional premium payments made since the most recent "Reset Anniversary," less proportional withdrawals ("ADBR Reset Value Proportional Withdrawals") made since the most recent Reset Anniversary; or

&nbsp;&nbsp;&nbsp;&nbsp;(c) any death benefit available under any other rider attached to the Policy.

We automatically calculate the ADBR Reset Value, with respect to any policy, every year from the Policy Date ("Reset Anniversary") until you reach age 80 (or the Annuitant if the Owner is not a natural person). For policies owned by a grantor trust, the Reset Value will be recalculated until any grantor reaches age 80. On the First Policy Anniversary, the ADBR Reset Value is defined as the greater of (a) the Accumulation Value; and (b) the Adjusted Death Benefit Premium Payments. The ADBR Reset Value on the second and each subsequent Reset Anniversary is defined as the greater of (a) the Accumulation Value on the current Reset Anniversary; and (b) the ADBR Reset Value on the prior Reset Anniversary, plus any premium payments and Breakpoint Credits applied since the prior Reset Anniversary, less any ADBR Reset Value Proportional Withdrawals since the prior Reset Anniversary.

In jurisdictions where approved, the rider benefit will no longer reset after the Owner's death or for grantor trust owned policies, the death of any grantor. The only exception is if the policy remains in-force under the spousal option

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provision of the Policy, if available. If the Owner is not a natural person, or a grantor trust, the rider benefit will no longer reset after the death of the Annuitant. In addition, in jurisdictions where approved, if an ownership change or assignment of the policy is made, other than as explicitly described in the rider, the rider will terminate and no ADBR Reset Value will be payable. If the rider is terminated, the death benefit payable will be the benefit provided in the "DESCRIPTION OF BENEFIT – The Standard Death Benefit–Death Before Annuity Commencement" section of this Prospectus.

An ADBR Reset Value Proportional Withdrawal is an amount equal to the amount withdrawn from the policy, after the first Policy anniversary, (including applicable surrender charges), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the ADBR Reset Value immediately preceding the withdrawal.

We have set forth below an example of how the ADBR Rider works for an owner who is age 63. The current annual rider charge is 0.30% of the ADBR Reset Value as of the last Policy Anniversary, deducted quarterly. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) you purchase this policy with a $200,000 initial premium payment (no additional premium payments are made)

&nbsp;&nbsp;&nbsp;&nbsp;(2) the Accumulation Value as of the first Policy Anniversary is $250,000 (this is the Poly Year 1 ADBR Reset Value)

&nbsp;&nbsp;&nbsp;&nbsp;(3) the current Accumulation Value is $240,000

&nbsp;&nbsp;&nbsp;&nbsp;(4) you make a partial withdrawal of $15,000 in the Policy Year 2 (no surrender charges are applicable)

&nbsp;&nbsp;&nbsp;&nbsp;(5) you die at the beginning of the second policy quarter of Policy Year 2 after the withdrawal

&nbsp;&nbsp;&nbsp;&nbsp;(6) the Accumulation Value on the date we receive the necessary requirements to pay the death benefit is $225,000 ($240,000 – $15,000)

&nbsp;&nbsp;&nbsp;&nbsp;(7) the charge for the ADBR Rider is assessed: 0.30% annually (0.075% per quarter)

&nbsp;&nbsp;&nbsp;&nbsp;(8) the Death Benefit is the greatest of:

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

the Accumulation Value

= **$225,000** 

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

the Adjusted Death Benefit Premium Payments

= **$187,500** calculated as described below:

To calculate the Adjusted Death Benefit Premium Payments, you must first determine the value of any ADBR Reset Value Proportional Withdrawal. The ADBR Reset Value Proportional Withdrawal equals the amount of partial withdrawals ($15,000) divided by the policy's Accumulation Value immediately preceding the withdrawal ($240,000), multiplied by the Adjusted Death Benefit Premium Payments immediately preceding the withdrawal ($200,000):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ($15,000/$240,000) x $200,000 = $12,500 is the proportional reduction.

The total amount of premium payments made under the policy ($200,000) minus the ADBR Reset Value Proportional Withdrawal ($12,500) equals the Adjusted Death Benefit Premium Payments ($187,500).

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

the Policy Year 2 ADBR Reset Value, which is the greatest of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. the Accumulation Value

= **$225,000** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the prior ADBR Reset Value as of the last Reset Anniversary ($250,000), plus any premium payments and any Breakpoint Credits made since the prior Reset Anniversary ($0), less ADBR

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Reset Value Proportional Withdrawals since the prior Reset Anniversary ($15,625).

= **$234,375** calculated as described below:

To calculate the ADBR Reset Value, you must first determine the value of any ADBR Reset Value Proportional Reduction. The ADBR Reset Value Proportional Reduction is an amount equal to the amount withdrawn from the policy, after the first Policy Anniversary, ($15,000), divided by the policy's Accumulation Value immediately preceding the withdrawal ($240,000), multiplied by the ADBR Reset Value immediately preceding the withdrawal ($250,000).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ($15,000/$240,000) x $250,000 = $15,625.

The prior ADBR Reset Value as of the last Reset Anniversary ($250,000), plus any premium payments since the prior Reset Anniversary ($0), less ADBR Reset Value Proportional Withdrawals since the prior Reset Anniversary ($15,625) equals $234,375.00.

In this example, your Beneficiary would receive **$234,375.00.** 

The ADBR Rider ends upon the earlier of the following:

1)

the Annuity Commencement Date,

2)

the date you surrender the policy, or

3)

the date we terminate the policy.

Notwithstanding the foregoing, the Rider will not end and all of the Rider's provisions and quarterly charges will continue to be deducted as if the new owner had purchased the policy on the original Policy Date if your spouse, as the sole primary Beneficiary, elects to continue the policy upon your death.

**You cannot cancel this Rider without surrendering your policy.**

***Enhanced Beneficiary Benefit Rider***

**The Enhanced Beneficiary Benefit (EBB) Rider was only available at the time of application. The EBB Rider was not available with the Annual Death Benefit Reset Rider (ADBR) in the State of New Jersey.** The EBB Rider was available on Non-Qualified Policies and, where permitted by the IRS, also on Qualified Policies. The EBB Rider can increase the death benefit if you die before the Annuity Commencement Date. If you purchased this Rider, the EBB, in addition to the amount payable under the terms of your policy, may be payable to your Beneficiary(ies) if you die prior to the Annuity Commencement Date. Therefore, under this Rider, the total death benefit payable will be the greatest of any of the amounts payable as described in the "DESCRIPTION OF BENEFITS—The Standard Death Benefit—Death Before Annuity Commencement" section of the Prospectus plus the EBB, if any. Please note that benefits under this rider are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC.

While this rider is in effect, we will deduct a charge from your Accumulation Value each policy quarter. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Enhanced Beneficiary Benefit Rider Charge.")

The payment under the EBB Rider is calculated as a percentage of any gain in the policy as of the date we receive a request in Good Order to pay death benefit proceeds at the VPSC. The applicable percentage varies based upon your or the Annuitant's issue age. As of the date of this Prospectus, the applicable percentages are as follows: 50% where the owner is 70 or younger, and 25% where the owner is 71 to 75 inclusive. We may change the applicable percentages under the EBB Rider from time to time, within the following ranges:

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| | |
|:---|:---|
| **Age of Oldest Owner or Annuitant at Issue** | **Range of Applicable Percentages** |
| 70 or younger | Not less than 40% nor greater than 60% |
| 71 to 75 inclusive | Not less than 20% nor greater than 40% |

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**When you purchased the EBB Rider, the applicable percentage appeared on your Policy Data Page. The applicable percentage for the policy will not change once the policy is issued. Please check with your registered representative for further details.** 

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The gain equals the policy's Accumulation Value minus the Adjusted Premium Payments. Adjusted Premium Payments are the total of all premium payments less proportional withdrawals ("EBB Proportional Withdrawals"). EBB Proportional Withdrawals are the amount(s) withdrawn from the policy (including any surrender charges, if applicable) divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the total of all Adjusted Premium Payments immediately preceding the withdrawal.

If more than one Beneficiary is named, each Beneficiary will be paid a pro rata portion of the EBB. The EBB will be calculated for a Beneficiary on each date that we receive all necessary requirements to pay such Beneficiary at the VPSC in Good Order. Due to market fluctuations, the EBB may increase or decrease and Beneficiaries may therefore be paid different amounts.

The maximum amount payable under the EBB Rider, regardless of the gain, is equal to a percentage of Adjusted Premium Payments. As of the date of this Prospectus, the applicable percentages are as follows: 100% where the owner is 70 or younger, and 75% where the owner is 71 to 75 inclusive. We may change the applicable percentages under the EBB Rider from time to time, but the maximum amount payable will not exceed 200% of Adjusted Premium Payments. If you select this rider, the applicable percentage will appear on your Policy Data Page. Please check with your registered representative for further details.

There will be no payment under the EBB Rider if on the date we calculate the EBB: 1) there is no gain, 2) the policy's Accumulation Value is less than your premium payments made and not previously withdrawn, or 3) the rider has ended or terminated. The EBB Rider will end on the earliest of the following: 1) on the Annuity Commencement Date, 2) if you surrender the policy, 3) if your spouse, as the sole primary Beneficiary, elects to continue the policy upon your death (see "DESCRIPTION OF BENEFITS—Enhanced Spousal Continuance Rider (optional)"), 4) if we elect to terminate the policy pursuant to the policy's termination provision, or 5) if you transfer ownership of the policy,. As discussed below in "DESCRIPTION OF BENEFITS—Enhanced Spousal Continuance Rider," if upon your death prior to the Annuity Commencement Date your spouse elects to continue the policy as the new owner (and Annuitant, if you are the Annuitant), the Accumulation Value will be adjusted (as of the date we receive due proof of death and all other requirements at the VPSC in Good Order) to equal the greatest of any of the amounts payable as described in the "DESCRIPTION OF BENEFITS—The Standard Death Benefit—Death Before Annuity Commencement" section of the Prospectus, plus, if applicable, any EBB provided by the EBB Rider. **This rider cannot be cancelled without surrendering your policy.** You will forfeit any benefits under the EBB Rider if you elect to receive Income Payments, or surrender or transfer your policy. If you expect to do any of these, the EBB Rider may not be appropriate for you.

We have set forth below an example of how the benefit of the EBB Rider may be realized and how withdrawals impact the benefit under this Rider. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;1. The rider is elected at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;2. You purchase this policy with a $200,000 initial premium payment (no additional premium payments are made);

&nbsp;&nbsp;&nbsp;&nbsp;3. A withdrawal of $20,000 is made in the fourth Policy Year;

&nbsp;&nbsp;&nbsp;&nbsp;4. Immediately preceding the withdrawal, the Accumulation Value has increased to $250,000, and the total Adjusted Premium Payments equaled $200,000 (since there have been no previous withdrawals);

&nbsp;&nbsp;&nbsp;&nbsp;5. If you (or the Annuitant, if you are not the Annuitant) die in the fifth Policy Year and the Accumulation Value of the policy has increased once again to $250,000 as of the date we receive the necessary requirements to pay the death benefit; and

&nbsp;&nbsp;&nbsp;&nbsp;6. The Enhanced Beneficiary Benefit Rider percentage equals 50%.

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First, the Proportional Withdrawal amount is calculated (withdrawal amount divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the Adjusted Premium Payments immediately preceding the withdrawal):

Proportional Withdrawal = ($20,000/$250,000) x $200,000 = $16,000

Second, the amount of current Adjusted Premium Payments (after the withdrawal) is calculated (total of all premium payments minus EBB Proportional Withdrawals):

Adjusted Premium Payments = $200,000 – $16,000 = $184,000

Third, the gain is calculated (Accumulation Value – Adjusted Premium Payments):

Gain = $250,000 – $184,000 = $66,000

Finally, the Enhanced Beneficiary Benefit amount is calculated (Gain multiplied by the applicable EBB rider percentage):

Enhanced Beneficiary Benefit = $66,000 x 50% = $33,000

In this example, the Enhanced Beneficiary Benefit is equal to $33,000. This amount would be payable in addition to the guaranteed death benefit amount under the policy.

***Enhanced Spousal Continuance Rider***

If you purchased the EBB Rider at the time of application (see above), your policy will, subject to jurisdiction availability, also include the Enhanced Spousal Continuance Rider ("ESC Rider") at no charge. The ESC Rider is not included on policies sold in connection with Section 403(b) tax-sheltered annuities.

Under the ESC Rider, if your spouse is the sole primary Beneficiary, upon your death prior to the Annuity Commencement Date, your spouse may elect to continue the policy as the new owner (and Annuitant, if you are also the Annuitant). If the election is made, the Accumulation Value will be adjusted (as of the date we receive due proof of death and all other requirements in Good Order at the VPSC) to equal the greatest of any of the amounts payable as described in the ("DESCRIPTION OF BENEFITS—The Standard Death Benefit—Death Before Annuity Commencement") section of the Prospectus, plus, if applicable, any EBB provided by the EBB Rider. Unless we notify you otherwise, any additional Accumulation Value calculated under the ESC Rider will be allocated to the policy according to the premium allocation instructions on record (excluding the DCA Advantage Account).

The ESC Rider ends upon the earliest of the following: 1) if you surrender the policy, 2) if Income Payments begin, 3) once the ESC Rider has been exercised, or 4) if you transfer ownership of the policy to someone other than your spouse. **This rider cannot be cancelled without surrendering your policy.** 

Upon exercising the ESC Rider and continuing the policy, the EBB Rider and the quarterly charges for the EBB Rider will cease. All other policy provisions will continue as if your spouse had purchased the policy on the original Policy Date.

Example:

Your spouse is your policy's sole primary Beneficiary. If you die and your spouse chooses to continue the policy as the new owner, and the Accumulation Value as of your date of death is $100,000, it will be increased to equal the amount of the Standard Death Benefit plus an EBB provided under the EBB Rider.

***Investment Protection Plan Rider***

The Investment Protection Plan Rider ("IPP") is available only in jurisdictions where approved and with policies purchased before July 16, 2012. If you purchased this rider, you will be able to surrender the policy and receive the greater of the policy Accumulation Value or the amount that is guaranteed under the rider. To select this rider for in force policies, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. While this rider is in effect, we will deduct a charge from your Accumulation Value on each policy quarter. (See "CHARGES AND DEDUCTIONS—Optional Benefit

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Expenses—Investment Protection Plan Rider Charge.") When you make a partial withdrawal, we will reduce the amount that is guaranteed under the rider by the amount of the proportional withdrawal ("IPP Proportional Withdrawal"). An IPP Proportional Withdrawal is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the amount that is guaranteed immediately preceding the withdrawal.

IPP may be appropriate for individuals who appreciate the upside potential that comes with market participation, but are also highly sensitive to protecting their initial premium payment over a pre-determined holding period of 10 years.

Please note that benefits payable under the IPP Rider are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third–party guarantees are involved.

The amount that is guaranteed under the rider will depend on when you select or reset it:

&nbsp;&nbsp;&nbsp;&nbsp;(i) At the time of application: The amount that is guaranteed will equal the initial premium payment plus any additional premium payments we receive in the first Policy Year, less all IPP Proportional Withdrawals. Premium payments made after the first Policy Year will not be included in the amount that is guaranteed. The rider will take effect on the Policy Date.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) While the policy is in force: The amount that is guaranteed will equal the Accumulation Value on the date the rider takes effect, less all IPP Proportional Withdrawals. The Rider will take effect on the next Policy Anniversary following the date the VPSC receives your application for the rider, in Good Order, at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) Resetting the guaranteed amount ("Rider Reset"): You may request to reset the amount that is guaranteed at any time while the rider is in effect subject to the following limitations: (1) the latest available reset date for Non–qualified Policies is ten (10) years prior to the Annuity Commencement Date and (2) for Qualified Policies, you must be age 65 or younger. To reset the guaranteed amount, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset. Upon reset, the amount that is guaranteed will equal the Accumulation Value on the next Policy Anniversary, less all IPP Proportional Withdrawals. We may also set a new charge (not to exceed the guaranteed maximum charge in the "TABLE OF FEES AND EXPENSES") for the rider and the Rider Risk Charge Adjustment on that Policy Anniversary. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Rider Charge" and "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge)") In addition, upon reset, your allocation restrictions may change. Please contact your registered representative for more information.

In Oregon, where this rider is called the Accumulation Value Protection Plan, the amount guaranteed is computed in the same manner described above.

If you selected this rider on or after February 15, 2010, you will only be allowed to allocate your premium payments to certain Allocation Options and the DCA Advantage Account. You may not allocate more than 25% of your initial premium payment to the Fixed Account. In addition, you may not have more than 25% of your policy's Accumulation Value allocated to the Fixed Account on the rider's effective date for in–force policies. The Investment Division restrictions associated with the IPP Rider seek to moderate overall volatility or hedge against down market volatility, and may limit your participation in positive investment performance. Other investment options that are available if you did not select the IPP Rider may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with the IPP Rider meet your investment objectives and risk tolerance. The Fixed Account is not available for policies issued in the State of New York. In addition, the Fixed Account is not available in the State of Washington if the IPP Rider was selected. The version of the IPP Rider that became available on or after February 15, 2010 is the same as the version of the rider available prior to February 15, 2010 in all other respects. The allowable Allocation Options under the IPP Rider available on or after February 15, 2010 are listed in APPENDIX 2B to this Prospectus.

You will be eligible to receive the benefit under this rider beginning on the tenth Policy Anniversary after the later of (1) the effective date of the rider or (2) the effective date of any Rider Reset. You may also exercise this benefit on

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any Policy Anniversary subsequent to the tenth. To exercise this benefit, you must send us a written request to surrender the policy in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus no later than ten Business Days after the applicable Policy Anniversary. Amounts paid to you under the terms of this rider may be taxable and you may be subject to a 10% tax penalty if paid before you reach age 59½.

You may cancel this rider within 30 days after delivery of the rider or, if you selected this feature at the time of application, within 30 days after delivery of the policy. To cancel the rider, you must return it to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel the Rider and refund any Investment Protection Plan Rider charge which may have been deducted. After this 30–day period, you still have the right to discontinue the rider. However, we will deduct a Rider Risk Charge Adjustment from your Accumulation Value and we will not refund any Investment Protection Plan Rider charge that may have been deducted. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge).") The cancellation of the rider after the 30–day period will be effective as of the date the VPSC receives your cancellation request.

This rider is available on all Non–Qualified and Roth IRA policies so long as the first date that you can exercise and receive benefits under the rider is before the Annuity Commencement Date. The rider is also available on IRA, SEP IRA and SIMPLE IRA policies if the policyowner is age 65 or younger on the date the rider takes effect. The rider is not available on TSA and Inherited IRA policies. For policies issued prior to February 15, 2010, this rider is not available if more than 50% of the policy's Accumulation Value is in the Fixed Account (if available) when the rider is selected.

This rider will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to exercise the rider. Therefore, you should select this rider only if you intend to keep the policy for at least ten years. In addition, this rider has no impact on any amount paid upon your death or the death of the Annuitant.

Partial withdrawals will reduce the guaranteed amount and the amount of charges assessed for the rider. However, please note that charges assessed for this rider prior to the date of any partial withdrawal (including required minimum distributions from IRAs) will not be retroactively adjusted.

We have set forth below an example of how the benefit of this rider may be realized and how partial withdrawals (including required minimum distributions from IRAs) will impact the guaranteed amount. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) the rider is selected at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) an initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) no additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(4) a withdrawal of $20,000 is made in the eighth Policy Year;

&nbsp;&nbsp;&nbsp;&nbsp;(5) the Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(6) the Accumulation Value on the tenth Policy Anniversary has decreased to $50,000.

The guaranteed amount at time of application was $100,000. When the partial withdrawal was made in the eighth Policy Year, we reduced the guaranteed amount by the amount of the IPP Proportional Withdrawal. We calculated the amount of the IPP Proportional Withdrawal by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the guaranteed amount immediately preceding the withdrawal.

IPP Proportional Withdrawal = ($20,000/$80,000) x $100,000 = $25,000

To determine the new guaranteed amount after the withdrawal, we subtracted the amount of the IPP Proportional Withdrawal from the initial guaranteed amount: ($100,000 – $25,000) = $75,000. If this policy is surrendered in the tenth Policy Year, the policyowner receives $75,000 even though the Accumulation Value has decreased to $50,000.

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***Investment Protection Plan II Rider***

The Investment Protection Plan II Rider ("IPP II") was only available at the time of application. If you purchased IPP II, you will be eligible to receive a one–time adjustment to your Accumulation Value in the event that your Accumulation Value is less than the amount guaranteed under IPP II on the 12th policy anniversary of the effective date of IPP II (or the 12th policy anniversary of any reset of IPP II). IPP II will end on the 12th policy anniversary of the rider effective date (or any reset of IPP II). While IPP II is in effect, we will deduct a charge from your Accumulation Value on each policy quarter. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan II Rider Charge.") When you make a partial withdrawal, we will reduce the amount that is guaranteed under IPP II by the amount of the proportional withdrawal ("IPP II Proportional Withdrawal"). An IPP II Proportional Withdrawal is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the amount that is guaranteed immediately preceding the withdrawal.

Please note that benefits payable under IPP II are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third–party guarantees are involved.

The amount that is guaranteed under IPP II is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(i) At the time of application: The amount that is guaranteed will equal the initial premium payment plus any additional premium payments plus Breakpoint Credits, if any, we receive in the first Policy Year, less all IPP II Proportional Withdrawals. Premium payments made after the first Policy Year will not be included in the amount that is guaranteed. IPP II will take effect on the Policy Date.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Resetting the guaranteed amount ("IPP II Rider Reset"): You may request to reset the amount that is guaranteed at any time while IPP II is in effect as long as you (oldest Owner, if the policy is jointly owned) and the Annuitant are age 78 or younger. To reset the guaranteed amount, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset. The amount that is guaranteed will equal the Accumulation Value on the next Policy Anniversary, less all IPP II Proportional Withdrawals taken after the reset. We may also set a new charge (not to exceed the guaranteed maximum charge in the "FEE TABLE") for IPP II and the Rider Risk Charge Adjustment on that Policy Anniversary. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan II Rider Charge" and "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge)."). In addition, upon reset, your allocation restrictions may change. Typically, you would request a reset in order to increase the guaranteed amount under IPP II. Please note that if you reset the guaranteed amount under IPP II, you will not be eligible to receive a one–time adjustment to your Accumulation Value until the 12th policy anniversary after the effective date of any reset. Please contact your registered representative for more information.

A policyowner may cancel a request to reset the guaranteed amount at any time prior to or within 30 days after the effective date of the reset. If you cancel your request to reset, no change will be made to IPP II's effective date, maturity date, charge rate or the Rider Risk Charge Adjustment, if applicable.

You will only be allowed to allocate your premium payments to certain Allocation Options and the DCA Advantage Account. You may not allocate more than 25% of your initial premium payment to the Fixed Account. **The Fixed Account is not available for policies issued in the State of New York. In addition, the Fixed Account is not available in the State of Washington if the IPP II Rider is selected.** The allowable Allocation Options under IPP II are listed in APPENDIX 2B to this Prospectus.

The Investment Division restrictions associated with the IPP II Rider seek to moderate overall volatility or hedge against down market volatility, and may limit your participation in positive investment performance. Other investment options that are available if you do not select the IPP II Rider may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with the IPP II Rider meet your investment objectives and risk tolerance.

With IPP II, you do not have to surrender the policy to receive any applicable benefit. You will be eligible to receive the benefit (if applicable) under IPP II on the 12th Policy Anniversary after the later of the Policy Date or the effective

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date of any reset. You do not need to take any action. We will inform you in writing if you are eligible to receive a one–time adjustment to your Accumulation Value. We will also inform you of your options if such one–time adjustment is made to your Accumulation Value which are to (i) surrender the policy and receive the adjusted Accumulation Value (which may be subject to surrender charges), or (ii) continue the policy at the adjusted Accumulation Value, which is subject to market fluctuation. If you are eligible to receive an adjustment, we will credit an amount to your Accumulation Value pro rata in accordance with your allocations currently on file. If you surrender the policy, amounts paid to you under the terms of IPP II may be taxable and you may be subject to a 10% tax penalty if such amounts are paid before you reach age 59½.

You may cancel IPP II within 30 days after delivery of the policy. To cancel, you must return IPP II to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel IPP II and refund any IPP II charges which may have been deducted. After this 30–day period, you still have the right to discontinue IPP II. However, we will deduct a Rider Risk Charge Adjustment from your Accumulation Value and we will not refund any IPP II charges that may have been deducted. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge).") The cancellation of IPP II after the 30–day period will be effective as of the date VPSC receives your cancellation request.

IPP II was available with all Non–Qualified policies, IRA, SEP IRA, Simple IRA and Roth IRA policies if the policyowner is age 75 or younger on the rider effective date. The rider is not available on TSA and Inherited IRA policies.

IPP II will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to receive a potential one–time adjustment to your Accumulation Value. Therefore, you should purchase IPP II only if you intend to keep the policy for at least 12 years.

Any withdrawal reduces the guaranteed amount and the amount of charges assessed for IPP II. However, please note that charges assessed for IPP II prior to the date of any withdrawals (including required minimum distributions from IRAs) will not be retroactively adjusted.

We have set forth below an example of how the benefit from IPP II may be realized and how withdrawals (including required minimum distributions from IRAs) will impact the guaranteed amount. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPP II is selected at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(4) A withdrawal of $20,000 is made in the eighth Policy Year;

&nbsp;&nbsp;&nbsp;&nbsp;(5) The Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(6) The Accumulation value on the 12th Policy Anniversary has decreased to $50,000.

The guaranteed amount at the time of application was $100,000. When the withdrawal was made in the eighth Policy Year, we reduced the guaranteed amount by the amount of the IPP II Proportional Withdrawal. We calculated the amount of the IPP II Proportional Withdrawal by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the guaranteed amount immediately preceding the withdrawal.

IPP II Proportional Withdrawal = ($20,000/$80,000) x $100,000 = $25,000

To determine the new guaranteed amount after the withdrawal, we subtracted the amount of the IPP II Proportional Withdrawal from the initial guaranteed amount: ($100,000 – $25,000) = $75,000. On the 12th Policy Anniversary the Accumulation Value ($50,000) is less than the guaranteed amount of $75,000. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $25,000 and the rider will end. You would not have been eligible to receive this adjustment to your Accumulation Value if you had not purchased the IPP II Rider.

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***Guaranteed Investment Protection Rider***

The Guaranteed Investment Protection Rider ("GIPR") was only available at the time of application. If you purchased GIPR, you will be eligible to receive a one–time adjustment to your Accumulation Value in the event that your Accumulation Value is less than the amount guaranteed under GIPR on the 12th policy anniversary of the effective date of GIPR (or the 12th policy anniversary of any reset of GIPR). GIPR will end on the 12th policy anniversary of the rider effective date (or the most recent reset of GIPR). While GIPR is in effect, we will deduct a charge from your Investment Divisions and DCA Advantage Account on a pro–rata basis on each policy quarter. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Guaranteed Investment Protection Rider Charge.") When you make a partial withdrawal, we will reduce the amount that is guaranteed under GIPR by the amount of the proportional withdrawal ("GIPR Proportional Withdrawal"). A GIPR Proportional Withdrawal is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the amount that is guaranteed immediately preceding the withdrawal.

Please note that benefits payable under GIPR are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third–party guarantees are involved.

The amount that is guaranteed under GIPR is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(i) At the time of application: The amount that is guaranteed will equal the initial premium payment plus any additional premium payments plus Breakpoint Credits, if any, thereon we receive in the first Policy Year, less all GIPR Proportional Withdrawals. Premium payments made after the first Policy Year will not be included in the amount that is guaranteed. GIPR will take effect on the Policy Date.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Resetting the guaranteed amount ("GIPR Rider Reset"): You may request to reset the amount that is guaranteed at any time while GIPR is in effect as long as you (oldest Owner, if the policy is jointly owned) and the Annuitant are age 78 or younger. To reset the guaranteed amount, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset. The amount that is guaranteed will equal the Accumulation Value on the next Policy Anniversary, less all GIPR Proportional Withdrawals taken after the reset. We may also set a new charge (not to exceed the guaranteed maximum charge in the "FEE TABLE") for GIPR and the Rider Risk Charge Adjustment on that Policy Anniversary. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Guaranteed Investment Protection Rider Charge" and "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge)."). In addition, upon reset, your allocation restrictions may change. Typically, you would request a reset in order to increase the guaranteed amount under GIPR. Please note that if you reset the guaranteed amount under GIPR, you will not be eligible to receive a one–time adjustment to your Accumulation Value until the 12th policy anniversary after the effective date of any reset. **We can suspend or discontinue the ability to reset the amount that is guaranteed at any time in our sole discretion on a nondiscriminatory basis. If we decide to suspend or discontinue the ability to reset the amount that is guaranteed, we will promptly notify you in writing. Please contact your registered representative for more information.** 

A policyowner may cancel a request to reset the guaranteed amount at any time prior to or within 30 days after the effective date of the reset. If you cancel your request to reset, no change will be made to GIPR's effective date, maturity date, charge rate or the Rider Risk Charge Adjustment.

You will be allowed to allocate your premium payments to the Allocation Options and the DCA Advantage Account subject to the restrictions set forth in APPENDIX 2C. You may not allocate any monies to the Fixed Account while GIPR is in effect. Upon any termination of GIPR, the Fixed Account will be an available investment option. Also, Traditional DCA is not available with GIPR. **The Fixed Account is not available for policies issued in the State of New York.** If you select GIPR, Investment Division restrictions will apply to the Investment Divisions that you may choose during the accumulation phase. These restrictions will limit the amount you can allocate to the Investment Divisions. You may allocate your premium payment to Investment Divisions in the Asset Allocation Categories in accordance with the specified thresholds, or to one of the available Asset Allocation Models. Individual transfers between Investment Divisions, the DCA Advantage Account and/or available Asset Allocation Models are not allowed. Each policy quarter, we will automatically rebalance your current allocations to conform to your most recent allocation

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instructions. If you wish to complete an individual transfer between the Investment Divisions or change to a different Asset Allocation Model (if available), you must send a reallocation form to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. **The Asset Allocation Categories and the Asset Allocation Models available with GIPR are set forth in *APPENDIX 2C.*** 

The Investment Division restrictions associated with the GIPR Rider seek to moderate overall volatility or hedge against down market volatility, and may limit your participation in positive investment performance. Other investment options that are available if you do not select the GIPR Rider may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with the GIPR Rider meet your investment objectives and risk tolerance.

With GIPR, you do not have to surrender the policy to receive any applicable benefit. You will be eligible to receive the benefit (if applicable) under GIPR on the 12th Policy Anniversary after the later of the Policy Date or the effective date of any reset. You do not need to take any action. We will inform you in writing if you are eligible to receive a one–time adjustment to your Accumulation Value. We will also inform you of your options if such one–time adjustment is made to your Accumulation Value which are to (i) surrender the policy and receive the adjusted Accumulation Value (which may be subject to surrender charges), or (ii) continue the policy at the adjusted Accumulation Value, which is subject to market fluctuation. If you are eligible to receive an adjustment, we will credit an amount to your Accumulation Value pro rata in accordance with your allocations currently on file. If you surrender the policy, amounts paid to you under the terms of GIPR may be taxable and you may be subject to a 10% tax penalty if such amounts are paid before you reach age 59½.

You may cancel GIPR within 30 days after delivery of the policy. To cancel, you must return GIPR to VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel GIPR and refund any GIPR charges which may have been deducted. After this 30–day period, you still have the right to discontinue GIPR. However, we will deduct a Rider Risk Charge Adjustment from your Investment Divisions and DCA Advantage Account on a pro–rata basis and we will not refund any GIPR charges that may have been deducted. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge).") Certain jurisdictions may not permit us to assess a Rider Risk Charge Adjustment; for more information, contact your registered representative or see "APPENDIX 3 – State Variations". The cancellation of GIPR after the 30–day period will be effective as of the date VPSC receives your cancellation request. You should consider the cost of cancelling GIPR prior to purchasing it.

GIPR was available with all Non–Qualified, IRA, SEP IRA, Simple IRA, Roth IRA, Keogh and Pension policies if the policyowner is age 75 or younger on the rider effective date. The rider was not available on TSA and Inherited IRA policies.

GIPR will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to receive a potential one–time adjustment to your Accumulation Value. Therefore, you should purchase GIPR only if you intend to keep the policy for at least 12 years.

Upon your death, GIPR and the policy will terminate unless your spouse chooses to continue the policy. Your spouse must be the sole primary beneficiary in order to continue GIPR and the policy. If your spouse chooses to continue GIPR and the policy, no death benefit proceeds will be paid upon your death.

Any withdrawals will reduce the guaranteed amount and the amount of charges assessed for GIPR. While GIPR is in effect, partial withdrawals will be deducted pro rata from the Allocation Options and/or the DCA Advantage Account. However, please note that charges assessed for GIPR prior to the date of any withdrawal (including required minimum distributions from IRAs) will not be retroactively adjusted.

We have set forth below an example of how the benefit from GIPR may be realized and how withdrawals (including required minimum distributions from IRAs) will impact the guaranteed amount. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) GIPR is selected at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) No additional premium payments are made;

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

&nbsp;&nbsp;&nbsp;&nbsp;(4) A withdrawal of $20,000 is made in the eighth policy year;

&nbsp;&nbsp;&nbsp;&nbsp;(5) The Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(6) The Accumulation value on the 12th Policy Anniversary has decreased to $50,000.

The guaranteed amount at the time of application was $100,000. When the withdrawal was made in the eighth Policy Year, we reduced the guaranteed amount by the amount of the GIPR Proportional Withdrawal. We calculated the amount of the GIPR Proportional Withdrawal by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the guaranteed amount immediately preceding the withdrawal.

GIPR Proportional Withdrawal = ($20,000/$80,000) x $100,000 = $25,000

To determine the new guaranteed amount after the withdrawal, we subtracted the amount of the GIPR Proportional Withdrawal from the initial guaranteed amount: ($100,000 – $25,000) = $75,000. On the 12th Policy Anniversary the Accumulation Value ($50,000) is less than the guaranteed amount of $75,000. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $25,000 and the rider will end. You would not have been eligible to receive this adjustment to your Accumulation Value if you had not purchased the GIPR Rider.

***Guaranteed Investment Protection Rider 2.0***

The Guaranteed Investment Protection Rider 2.0 ("GIPR 2.0") was only available at the time of application. GIPR 2.0 allows you to choose among 7 different holding periods, or terms. If you purchased GIPR 2.0, you will be eligible to receive a one–time adjustment to your Accumulation Value in the event that your Accumulation Value is less than the amount guaranteed under GIPR 2.0 on the applicable policy anniversary of the rider effective date (or most recent reset date) for the term you choose. You may request to reset the guaranteed amount under certain circumstances, as described below. Certain features of GIPR 2.0 relating to the 20 year rider term may not be available in all jurisdictions; contact your registered representative for more information.

GIPR 2.0 will end on the applicable policy anniversary of the rider effective date (or most recent reset date) for the term you choose. The applicable policy anniversary depends on the term you choose. While GIPR 2.0 is in effect, we will deduct a charge from your Investment Divisions and DCA Advantage Account on a pro–rata basis on each policy quarter. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Guaranteed Investment Protection Rider 2.0 Charge.") When you make a withdrawal, we will reduce the amount that is guaranteed under GIPR 2.0 by the amount of the proportional withdrawal ("GIPR 2.0 Proportional Withdrawal"). A GIPR 2.0 Proportional Withdrawal is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the amount that is guaranteed immediately preceding the withdrawal.

Please note that benefits payable under GIPR 2.0 are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third–party guarantees are involved.

The amount that is guaranteed under GIPR 2.0 is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(i) At the time of application for 10, 11, 12, 13, 14, or 15 year terms: The amount that is guaranteed will equal 100% of the sum of all premium payments that we receive in the first Policy Year, less all GIPR 2.0 Proportional Withdrawals.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) At the time of application for the 20 year term: The amount that is guaranteed will equal 150% of the sum of all premium payments that we receive in the first Policy Year, less all GIPR 2.0 Proportional Withdrawals.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) For all terms, premium payments made after the first Policy Year will not be included in the amount that is guaranteed. GIPR 2.0 will take effect on the Policy Date.

&nbsp;&nbsp;&nbsp;&nbsp;(iv) Resetting the guaranteed amount ("GIPR 2.0 Rider Reset"):

You may request to reset the amount that is guaranteed at any time while GIPR 2.0 is in effect as long as you (oldest Owner, if the Policy is jointly owned) and the Annuitant are age 75 or younger (for the 10, 11, 12, 13, 14 and 15 year terms), or age 70 or younger (for the 20 year term). To reset the guaranteed amount, you must send a written

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request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset. The amount that is guaranteed will be increased to equal the Accumulation Value (for 10–15 year terms) or 150% of the Accumulation Value (for the 20 year term) on the next Policy Anniversary, less all GIPR 2.0 Proportional Withdrawals taken after the reset. We may also set a new charge (not to exceed the guaranteed maximum charge in the "FEE TABLE") for GIPR 2.0 and the Rider Risk Charge Adjustment on that Policy Anniversary. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Guaranteed Investment Protection Rider 2.0 Charge." and "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge)."). In addition, upon reset, your allocation restrictions may change. Typically, you would decide to reset in order to increase the guaranteed amount under GIPR 2.0. Please note that if you reset the guaranteed amount under GIPR 2.0, you will not be eligible to receive a one–time adjustment to your Accumulation Value until the Policy Anniversary applicable to the original rider term you chose after the effective date of any reset. We can suspend or discontinue the ability to reset the amount that is guaranteed at any time in our sole discretion on a nondiscriminatory basis. If we decide to suspend or discontinue the ability to reset the amount that is guaranteed, we will promptly notify you in writing. Please contact your registered representative for more information.

A policyowner may cancel a request to reset the guaranteed amount at any time prior to or within 30 days after the effective date of the reset. If you cancel your request to reset, no change will be made to GIPR 2.0's effective date, maturity date, charge rate or the Rider Risk Charge Adjustment.

If you purchased GIPR 2.0, you will be allowed to allocate your premium payments to the Allocation Options and the DCA Advantage Account subject to the restrictions set forth in APPENDIX 2C.

You may not allocate any monies to the Fixed Account while GIPR 2.0 is in effect. Upon any termination of GIPR 2.0, the Fixed Account will be an available investment option. Also, Traditional DCA is not available with GIPR 2.0. The Fixed Account is not available for policies issued in the State of New York.

If you selected GIPR 2.0, we will limit the amount you can allocate to the Investment Divisions. You may allocate your premium payment to Investment Divisions in the Asset Allocation Categories in accordance with the specified thresholds, or to one of the available 2014 Asset Allocation Models. Individual transfers between Investment Divisions, the DCA Advantage Account and/or available Asset Allocation Models are not allowed. If you wish to complete an individual transfer between the Investment Divisions, or change to a different Asset Allocation Model (if available), you must send a reallocation form to the VPSC at one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus. Each policy quarter, we will automatically rebalance your current allocations to conform to your most recent allocation instructions. The Investment Division restrictions associated with the GIPR 2.0 Rider seek to moderate overall volatility or hedge against down market volatility, and may limit your participation in positive investment performance. Other investment options that are available if you do not select the GIPR 2.0 Rider may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with GIPR 2.0 meet your investment objectives and risk tolerance. The Asset Allocation Categories and the Asset Allocation Models available with GIPR 2.0 are set forth in APPENDIX 2C.

If you choose to reset your guaranteed amount, the restrictions on investment allocations may change. These changes could include an adjustment to the minimum and/or maximum allocation percentages available under the Asset Allocation Categories, adding or removing Asset Allocation Categories, adding or removing Asset Allocation Models, or discontinuing the availability of the DCA Advantage Account.

With GIPR 2.0, you do not have to surrender the policy to receive any applicable benefit. You will be eligible to receive the benefit (if applicable) on the Policy Anniversary for the term you chose after the later of the Policy Date or the most recent reset date. You do not need to take any action. We will inform you in writing if you are eligible to receive a one–time adjustment to your Accumulation Value. We will also inform you of your options if such one–time adjustment is made to your Accumulation Value which are to (i) surrender the policy and receive the adjusted Accumulation Value (which may be subject to surrender charges), or (ii) continue the policy at the adjusted Accumulation Value, which is subject to market fluctuation. If you are eligible to receive an adjustment, we will credit an amount to your Accumulation Value pro rata in accordance with your allocations currently on file. If you surrender the policy, amounts paid to you under GIPR 2.0 may be taxable and you may be subject to a 10% tax penalty if such amounts are paid before you reach age 59½.

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You may cancel GIPR 2.0 within 30 days after delivery of the policy. To cancel, you must return GIPR 2.0 to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel GIPR 2.0 and refund any GIPR 2.0 charges which may have been deducted. After this 30–day period, you still have the right to discontinue GIPR 2.0. However, we will deduct a Rider Risk Charge Adjustment from your Investment Divisions and DCA Advantage Account on a pro–rata basis and we will not refund any GIPR 2.0 charges that may have been deducted. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge).") Certain jurisdictions may not permit us to assess a Rider Risk Charge Adjustment; for more information, contact your registered representative or see "APPENDIX 3 – State Variations". The cancellation of GIPR 2.0 after the 30–day period will be effective as of the date VPSC receives your cancellation request. You should consider the cost of cancelling GIPR prior to purchasing it.

GIPR 2.0 was available with all Non–Qualified, IRA, SEP IRA, Simple IRA, Roth IRA, Keogh and Pension policies if the policyowner is age 75 or younger (70 or younger for the 20–year term) on the rider effective date. The rider was not available on TSA and Inherited IRA policies.

GIPR 2.0 will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to receive a potential one–time adjustment to your Accumulation Value. Therefore, you should purchase GIPR 2.0 only if you intend to keep the policy for at least the rider term you choose (10–15 or 20 years).

In most jurisdictions, GIPR 2.0 will terminate if an ownership change or assignment of the policy is made, other than as explicitly described in the rider. However, for policies issued in New York and California, we will not terminate GIPR 2.0 upon a change of ownership or an assignment.

Upon your death, GIPR 2.0 and the policy will terminate unless your spouse chooses to continue the policy. Your spouse must be the sole primary beneficiary in order to continue GIPR 2.0 and the policy. If your spouse chooses to continue GIPR 2.0 and the policy, no death benefit proceeds will be paid upon your death.

Any withdrawal reduces the guaranteed amount and the amount of charges assessed for GIPR 2.0. While GIPR 2.0 is in effect, withdrawals will be deducted pro rata from the Allocation Options and/or the DCA Advantage Account. However, please note that charges assessed for GIPR 2.0 prior to the date of any withdrawal (including required minimum distributions from IRAs) will not be retroactively adjusted. **It is important to note that if you take any withdrawals (including required minimum distributions from IRAs) while GIPR 2.0 is in effect, you may not be able to receive the full value of GIPR 2.0. The reduction in the Guaranteed Amount may be significant and could be greater than the actual amount withdrawn. This may occur when you request a withdrawal at a time when your Accumulation Value is lower than the Guaranteed Amount (see example below). As a result, GIPR 2.0 may not be appropriate for you if you intend to take withdrawals (including required minimum distributions from IRAs) before the end of the rider term you choose. You should consult your tax advisor if you have any questions about the use of GIPR 2.0 in your tax situation.** 

We have set forth below an example of how the benefit from GIPR 2.0 may be realized and how withdrawals (including required minimum distributions from IRAs) will impact the guaranteed amount and how we calculate the GIPR 2.0 Proportional Withdrawal. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) GIPR 2.0 with a 10, 11, 12, 13, 14, or 15 year term is selected at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(4) A withdrawal of $20,000 is made in the eighth policy year;

&nbsp;&nbsp;&nbsp;&nbsp;(5) The Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(6) The Accumulation Value on the Policy Anniversary corresponding to the term you chose has decreased to $50,000.

The guaranteed amount when we issued the policy was $100,000. When the withdrawal was made in the eighth Policy Year, we reduced the guaranteed amount by the amount of the GIPR 2.0 Proportional Withdrawal. We

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calculated the amount of the GIPR 2.0 Proportional Withdrawal by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the guaranteed amount immediately preceding the withdrawal.

GIPR 2.0 Proportional Withdrawal = ($20,000/$80,000) x $100,000 = $25,000

To determine the new guaranteed amount after the withdrawal, we subtracted the amount of the GIPR 2.0 Proportional Withdrawal from the initial guaranteed amount: ($100,000 – $25,000) = $75,000.

On the Policy Anniversary for the term you chose, the Accumulation Value ($50,000) is less than the guaranteed amount of $75,000. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $25,000.

If you had chosen the 20–year term, the guaranteed amount would have been $112,500 (150% of $75,000), and the one–time adjustment would be $62,500.

After the adjustment is paid, the rider will end. You would not have been eligible to receive this adjustment to your Accumulation Value if you had not purchased the GIPR 2.0 Rider.

*GIPR 2.0 Death Benefit*

If the policyowner dies within two Policy Years of the last day of the Rider term then in effect, the death benefit will equal the guaranteed amount for that Rider term, if that guaranteed amount is higher than the Accumulation Value or Adjusted Death Benefit Premium Payments on the date of death. For policies issued in New York, the death benefit for the 20–year rider term is 100% of the premium payments made in the first policy year (less any GIPR 2.0 Proportional Withdrawals) if that amount is higher than the death benefit available under the policy. However, if there is an ADBR Rider in effect, and the death benefit under the ADBR Rider is higher than the Accumulation Value or the GIPR 2.0 guaranteed amount, we will pay the death benefit available under the ADBR Rider. Payment of a death benefit terminates the GIPR 2.0 rider.

***Living Needs Benefit/Unemployment Rider***

This rider is available at no additional cost. Rider benefits and requirements to qualify for the rider benefits may not be the same in all jurisdictions. We include a Living Needs Benefit/Unemployment Rider for all types of policies. In Connecticut, the rider is named the "Living Needs Benefit Rider" and the Unemployment and Disability portions of the rider are not available. In New York, the rider is named "Waiver Of Surrender Charges For Living Needs Qualifying Events" and the Unemployment portion of the rider is not available. In New Jersey, the rider is named the "Living Needs Benefit Rider" and the Unemployment portion of the rider is not available.

The Living Needs Benefit/Unemployment Rider will waive all surrender charges (or a portion of surrender charges in the case of Unemployment), if you provide satisfactory proof that the Owner has experienced a Qualifying Event (as defined below). In order to receive the benefit associated with this rider, your policy must have been in force for at least one year and have a minimum Accumulation Value of $5,000 and the Qualifying Event must occur on or after the Policy Date. For the Disability portion of the rider, any withdrawal after your 66<sup>th</sup> birthday will not be eligible for the rider benefit and surrender charges may apply. For the Unemployment portion of the rider, we will waive surrender charges on a one-time withdrawal of up to 50% of your Accumulation Value. Surrender charges will apply on amounts withdrawn in excess of that amount and on subsequent withdrawals. In addition, none of the benefits of this rider are available for policies where any Owner(s) has attained their 86<sup>th</sup> birthday on the Policy Date. If the Owner(s) is not a natural person, all restrictions and benefits of the rider are based on the Annuitant.

The types of Qualifying Events are defined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(a) Health Care Facility (defined as a state licensed/certified nursing home/assisted living facility): The Owner is enrolled and living in a Health Care Facility for 60 consecutive days.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Terminal Illness: A determination by a licensed physician that the Owner has a life expectancy of 12 months or less.

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

&nbsp;&nbsp;&nbsp;&nbsp;(c) Disability: A determination by a licensed physician that the Owner has a disability that prevents them from performing any work for pay or profit for at least 12 consecutive months. We may require proof of continued disability as of the date of the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Unemployment: A determination letter from the applicable state's Department of Labor that the Owner qualifies for and has been receiving state unemployment benefits for 60 consecutive days.

A Health Care Facility is defined as a state licensed/certified nursing home/assisted living facility. In addition, we may also require proof of continued disability as of the date of the withdrawal.

For example, if an Owner with $100,000 in Accumulation Value experiences one of the Qualifying Events described in (a) – (c) above in Policy Year 3, he or she will be able to take withdrawals from his or her policy without having to pay a surrender charge on such withdrawals for as long as the Owner satisfies the conditions of eligibility. If the Owner were to experience the Qualifying Event of Unemployment in (d) in Policy Year 3, he or she would be able to make a one-time withdrawal of up to $50,000 without having to pay a surrender charge on such withdrawal. If he or she were to withdraw in excess of $50,000, he or she would pay a surrender charge on the amount exceeding $50,000 and on any subsequent withdrawals.

You will be able to receive benefits under this rider the later of the date you meet the above requirements or the date we receive your documentation in Good Order at the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

***Living Needs Benefit Rider***

This rider is available at no additional cost. Rider benefits and requirements to qualify for the rider benefits may not be the same in all jurisdictions. If the Annuitant enters a nursing home, becomes terminally ill or disabled, you, the policyowner, may be eligible to receive all or a portion of the Accumulation Value without paying a surrender charge. The policy must have been in force for at least one year and have a minimum Accumulation Value of $5,000. We must be provided with proof that the Annuitant has spent 60 or more consecutive days in a nursing home, is terminally ill or disabled. Withdrawals will be taxable to the extent of gain and, prior to age 59½, may be subject to a 10% IRS penalty. This rider is in effect in all jurisdictions where approved. To qualify for the disability benefit of this rider, the Annuitant must be classified as disabled by the Social Security Administration. You, the policyowner, are no longer eligible for the disability benefit once the Annuitant begins collecting Social Security retirement benefits. The rider will be effective the later of the date you meet the above requirements or the date we receive your documentation in a form acceptable to us at the VPSC.

For example, if an Owner with $100,000 in Accumulation Value experiences one of the Qualifying Events described above in Policy Year 3, he or she will be able to take withdrawals from his or her policy without having to pay a surrender charge on such withdrawals for as long as the Owner satisfies the conditions of eligibility.

***Unemployment Benefit Rider***

This rider is available at no additional cost. Rider benefits and requirements to qualify for the rider benefits may not be the same in all jurisdictions. For all Non-Qualified, IRA, SEP IRA, Roth IRA, Inherited IRA, and SIMPLE IRA policies, if you become unemployed, you may be eligible to increase the amount that can be withdrawn from your policy to 50% of the policy's Accumulation Value without paying surrender charges. This rider can only be used once. The policy must have been in force for at least one year and have a minimum Accumulation Value of $5,000. You also must have been unemployed for at least 60 consecutive days. Withdrawals may be taxable transactions and, prior to age 59½, may be subject to a 10% IRS penalty. To apply for this benefit, you must submit a determination letter from the applicable state's Department of Labor indicating that you qualify for and are receiving unemployment benefits. The rider will be effective the later of the date you meet the above requirements or the date we receive your notification at the VPSC.

For example, if the Owner becomes unemployed in Policy Year 3 and has $100,000 in Accumulation Value, he or she would be able to make a one-time withdrawal of up to $50,000 without having to pay a surrender charge on such withdrawal. If he or she were to withdraw in excess of $50,000, he or she would pay a surrender charge on the amount exceeding $50,000, and on any subsequent withdrawals.

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***Breakpoint Credit Rider (available only for policies purchased before July 1, 2013)***

Under the Breakpoint Credit Rider, we will apply a Breakpoint Credit to that portion of the total amount of all premium payments that exceed $1,000,000, subject to the Breakpoint Credit Rate schedule that is in effect at the time such premium payment is made. The Breakpoint Credit is calculated as a percentage of that portion of an Eligible Premium Payment made to the policy. An Eligible Premium Payment is that portion of the total amount of all premium payments made to the policy in excess of $1,000,000. There is no additional charge for this rider.

The Breakpoint Credit applicable to a premium payment varies, depending on the total amount of the premium payment(s) received under the policy. The Breakpoint Credit is determined by multiplying each portion of an Eligible Premium Payment amount by the applicable Breakpoint Credit Rate, in accordance with the Breakpoint Credit Rate Schedule attached below. If more than one Breakpoint Credit Rate applies for an Eligible Premium Payment, the Breakpoint Credit is equal to the sum of the Breakpoint Credit amounts determined for each applicable Breakpoint Credit Rate.

As of the date of this Prospectus, the Breakpoint Credit Rates and Eligible Premium Payment(s) to which they apply are as follows:

**<u>Breakpoint Credit Rate Schedule</u>** 

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| | | |
|:---|:---|:---|
| **Eligible Premium Payment(s)** | **Eligible Premium Payment(s)** | **Eligible Premium Payment(s)** |
| **That exceed(s)** | **Up to and including** | **Breakpoint Credit Rate** |
| &nbsp;&nbsp;&nbsp; $1,000,000\* | &nbsp;&nbsp;&nbsp;&nbsp; $2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.00<br> %<br>|
| &nbsp;&nbsp;&nbsp; $2500000 | &nbsp;&nbsp;&nbsp;&nbsp; $5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.50<br> %<br>|
| &nbsp;&nbsp;&nbsp; $5000000 | &nbsp;&nbsp;&nbsp;&nbsp; $10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.00<br> %<br>|
| &nbsp;&nbsp;&nbsp; $10000000 | &nbsp;&nbsp;&nbsp;&nbsp; unlimited | &nbsp;&nbsp;&nbsp;&nbsp; 2.50<br> %<br>|

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\*

Premium Payments in excess of $2,000,000 are subject to prior approval by NYLIAC.

The Breakpoint Credit is applied to the Policy's Accumulation Value concurrent with an Eligible Premium Payment. Breakpoint Credits and interest credited thereon are allocated to the same Allocation Options and/or the DCA Advantage Account based on the same percentages used to allocate your premium payments. Breakpoint Credits that are allocated to the Fixed Account (if applicable) and/or the DCA Advantage Account and interest earned thereon are held in NYLIAC's General Account and invested by NYLIAC in accordance with applicable law.

Breakpoint Credits are allocated to the same Allocation Options based on the same percentages used to allocate your premium payments. We do not consider Breakpoint Credits to be premium payments for purposes of any discussion in this Prospectus. Breakpoint Credits are also not considered to be your investment in the policy for tax purposes.

Example:

&nbsp;&nbsp;&nbsp;&nbsp;(1) You elected the Breakpoint Credit Rider when you purchased the policy;

&nbsp;&nbsp;&nbsp;&nbsp;(2) You made a premium payment of $1,250,000;

&nbsp;&nbsp;&nbsp;&nbsp;(3) You are eligible for a Breakpoint Credit of 1% of $250,000 or $2,500;

&nbsp;&nbsp;&nbsp;&nbsp;(4) We apply 1,252,500 to your Allocation Options;

The Breakpoint Credit is funded by the reduction in sales and administrative costs that accrue from the sale of very large policies. As such, no additional fees or charges are passed along to policyowners in association with this credit.

***Automatic Asset Reallocation***

This optional benefit, which is available at no additional cost, allows you to maintain the percentage allocated to each Investment Division at a pre–set level. For example, you might specify that 50% of the Variable Accumulation Value of your policy be allocated to the NYLIM VP MacKay Convertible Investment Division and 50% of the Variable

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Accumulation Value be allocated to the NYLIM VP PineStone International Equity Investment Division. Over time, the fluctuations in each of these Investment Division's investment results will shift the percentages. If you elect the Automatic Asset Reallocation option, NYLIAC will automatically transfer your Variable Accumulation Value back to the percentages you specify. You may also utilize the Automatic Asset Reallocation Option if your Variable Accumulation Value is allocated to an Asset Allocation Model. You may choose to have reallocations made on your quarterly, semi–annual or annual policy anniversary.

To request Automatic Asset Reallocation, you must send a completed Automatic Asset Reallocation request form to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or use any other method we make available. The VPSC must receive the completed Automatic Asset Reallocation request form at least five Business Days before the date transfers are scheduled to begin. If we receive your completed Automatic Asset Reallocation request form for this option less than five Business Days prior to the date you request it to begin, the reallocation will begin on the next rebalancing date based on the rebalancing frequency you selected. Faxed and e–mailed requests are not currently accepted; however, we reserve the right to accept them at our discretion. You may modify an existing Automatic Asset Reallocation option by contacting us by phone at the number provided in the "CONTACTING NYLIAC" section of this Prospectus.

The minimum Accumulation Value required to elect this option is $2,500. We will suspend this feature automatically if the Separate Account Value is less than $2,500 on a reallocation date. Once the Separate Account Value equals or exceeds this amount, Automatic Asset Reallocation will resume automatically as scheduled. There is no minimum amount that you must allocate among the Investment Divisions under this option. Your Automatic Asset Reallocation may be cancelled if a premium allocation change or transfer is submitted on your behalf that is inconsistent with your current Automatic Asset Reallocation arrangements. You may prevent this cancellation if a conforming Automatic Asset Reallocation change is processed within one Business Day of the inconsistent premium allocation change or transfer.

You may cancel the Automatic Asset Reallocation option at any time. To cancel the Automatic Asset Reallocation option, you may send a written cancellation request in Good Order to the VPSC or contact us by phone or online as described in the "CONTACTING NYLIAC" section of this Prospectus. You may not elect the Automatic Asset Reallocation option if you have selected the traditional Dollar Cost Averaging option. However, you have the option of alternating between these two features.

***Dollar Cost Averaging Programs***

The main objective of dollar cost averaging is to achieve an average cost per Accumulation Unit that is lower than the average price per Accumulation Unit during volatile market conditions. Since you transfer the same dollar amount to an 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 per unit is low and fewer units if the value per unit is high. Dollar cost averaging does not assure a profit in rising markets 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 to make purchases during periods of varying price levels. We do not count transfers under dollar cost averaging as part of your 12 free transfers each Policy Year. There is no charge imposed for either of the Dollar Cost Averaging programs.

We have set forth below an example of how dollar cost averaging works. In the example, we have assumed that you want to transfer $100 from the NYLIM VP U.S. Government Money Market Investment Division to the NYLIM VP Dimensional U.S. Equity—Service Class Investment Division each month. Assuming the Accumulation Unit values below, you would purchase the following number of Accumulation Units:

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| | | | |
|:---|:---|:---|:---|
| **Month** | &nbsp;&nbsp; **Amount**<br> **Transferred**<br>| &nbsp;&nbsp; **Accumulation**<br> **Unit Value**<br>| &nbsp;&nbsp; **Accumulation Units**<br> **Purchased**<br>|
| 1 | $100 | $10.00 | 10.00 |
| 2 | $100 | $8.00 | 12.50 |
| 3 | $100 | $12.50 | 8.00 |
| 4 | $100 | $7.50 | 13.33 |
| Total | $400 | $38.00 | 43.83 |

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The average unit price is calculated as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| Total unit price | = | $38.00 | = | $9.50 |
| Number of months | = | 4 | = | $9.50 |

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The average unit cost is calculated as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| Total amount transferred | = | $400.00 | = | $9.13 |
| Total units purchased | = | 43.83 | = | $9.13 |

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In this example, with dollar cost averaging you would have paid an average of $9.13 per unit while the average price per unit during the purchase period was $9.50. Keep in mind that it is also possible for dollar cost averaging to result in a loss. For example, if Accumulation Unit Values had increased rapidly over the four-month period used in the example above, you would have achieved a lower average unit cost by making the entire purchase in the first month.

*Traditional Dollar Cost Averaging (not available with the IPP, IPP II, GIPR and GIPR 2.0 Riders)*

This option, which is available at no additional cost, permits systematic investing to be made in equal installments over various market cycles to help reduce risk. You may specify, prior to the Annuity Commencement Date, a specific dollar amount to be transferred from any Investment Division to any combination of Investment Divisions and/or the Fixed Account. Please note that for Premium based Base Contract Charge policies, amounts cannot be transferred to the Fixed Account (if applicable) You will specify the Investment Divisions to transfer money from, the Investment Divisions and/or Fixed Account to transfer money to, the amounts to be transferred, the date on which transfers will be made, subject to our rules, and the frequency of the transfers (monthly, quarterly, semi-annually or annually). You may not use traditional dollar cost averaging to make transfers into or from an Asset Allocation Model. You may not make transfers from the Fixed Account, but you may make transfers into the Fixed Account. Each transfer from an Investment Division must be at least $100. You must have a minimum Accumulation Value of $2,500 to elect this option. Once all money has been allocated to the Investment Divisions of your choice or the balance in the Investment Division you are transferring from is less than $100, the Dollar Cost Averaging option will cease. A new request must be submitted to reactivate this feature. NYLIAC may reduce the minimum transfer amount and minimum Accumulation Value at its discretion.

NYLIAC will make all Dollar Cost Averaging transfers on the day of each calendar month that you specify or on the next Business Day (if the day you have specified is not a Business Day). You may specify any day of the month except the 29th, 30th, or 31st. In order to process transfers under the Dollar Cost Averaging Option, the VPSC must have received a completed Dollar Cost Averaging request form in Good Order at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus no later than five Business Days prior to the date transfers are to begin. You may also process a Dollar Cost Averaging transfer by any other method we make available. If your Dollar Cost Averaging request form for this option is received less than five Business Days prior to the date you request it to begin, the transfers will begin on the day of the month you specify in the month following the receipt of your request. All completed Dollar Cost Averaging request forms must be sent to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion.

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You may cancel the Dollar Cost Averaging option at any time. To cancel the Dollar Cost Averaging option, you must send a written cancellation request in Good Order to the VPSC or contact us by phone at the number provided in the "CONTACTING NYLIAC" section of this Prospectus. NYLIAC may also cancel this option if the Accumulation Value is less than $2,000, or such lower amount as we may determine. You may not elect the Dollar Cost Averaging option if you have selected the Automatic Asset Reallocation option. However, you have the option of alternating between these two features.

*The DCA Advantage Account*

This feature, which is available at no additional cost, permits you to set up automatic dollar cost averaging using the DCA Advantage Account when an initial premium payment or a subsequent premium payment is made. The DCA Advantage Account transfers amounts automatically to the Investment Divisions you choose in six monthly increments, as described below. We credit amounts in the DCA Advantage Account with interest. You can request the DCA Advantage Account in addition to the Traditional Dollar Cost Averaging, Automatic Asset Reallocation, or Interest Sweep. To set up a DCA Advantage Account, you must send a completed DCA Advantage Account request form in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

If you wish to allocate to the DCA Advantage Account, each premium payment you allocate to it must be **at least $5,000**. If your payment is less than the $5,000 minimum, it will not be allocated to the DCA Advantage Account. Instead, it will be automatically applied to the Investment Divisions that you have specified to receive transfers from the DCA Advantage Account. You must specify the Investment Divisions or available Asset Allocation Model into which transfers from the DCA Advantage Account are to be made. However, you may not select the DCA Advantage Account if its duration would extend beyond the Annuity Commencement Date. You may not make transfers from the DCA Advantage Account into the Fixed Account (if available). We do not count transfers out of the DCA Advantage Account as part of your 12 free transfers each Policy Year. Dollar cost averaging will begin one month from the date NYLIAC receives the premium payment and transfers will be made on the same day (on the next Business Day if the day is not a Business Day) each subsequent month for the duration of the DCA Advantage Account. If a transfer is scheduled to occur on a day that does not exist in a month, it will be processed on the last day of that month or on the next Business Day if the last day of that month is not a Business Day. 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 Advantage Account. For example, the amount of the first monthly transfer out of the DCA Advantage Account will equal 1/6 of the value of the DCA Advantage Account on the date of the transfer. The amount of each of the five remaining transfers will equal 1/5, 1/4, 1/3, 1/2, and the remainder of the balance, respectively, of the value of the DCA Advantage Account on the date of each transfer.

You may not have more than one DCA Advantage Account open at the same time. Accordingly, any subsequent premium payment we receive for a DCA Advantage Account that is already open will be allocated to that same DCA Advantage Account and will earn the same interest rate. The entire value of the DCA Advantage Account will be completely transferred to the Investment Divisions or Asset Allocation Model within the duration specified. For example, if you allocate an initial premium payment to the DCA Advantage Account under which the 6-month term will end on December 31 and you make a subsequent premium payment to the 6-month DCA Advantage Account before December 31, we will allocate the subsequent premium payment to the same 6-month DCA Advantage Account already opened and transfer the entire value of the 6-month DCA Advantage Account to the Investment Divisions or Asset Allocation Model by December 31 even though a portion of the money was not in that DCA Advantage Account for the entire 6-month period. If an additional premium payment of $5,000 or more is allocated to the DCA Advantage Account after the duration has expired, the DCA Advantage Account will be reactivated and will earn the interest rate in effect on the Business Day the new premium payment is received at the VPSC.

You can make partial withdrawals and transfers (in addition to the automatic transfers described above) from the DCA Advantage Account. We will make partial withdrawals and transfers first from the DCA Advantage Account Accumulation Value attributed to the initial premium payment and then from the DCA Advantage Account Accumulation Value attributed to subsequent allocations in the order received. However, we do not permit such transfers if GIPR or GIPR 2.0 is in effect.

**You cannot make transfers into the DCA Advantage Account from any Allocation Option.** 

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***Interest Sweep***

This optional benefit, which is available at no additional cost, allows the interest earned on monies allocated to the Fixed Account to be transferred from the Fixed Account to one or any combination of Investment Divisions or an available Asset Allocation Model. You must specify the Investment Divisions and/or Asset Allocation Model, the frequency of the transfers (monthly, quarterly, semi-annually, or annually), and the day of each calendar month to make the transfers (except the 29<sup>th</sup>, 30<sup>th</sup>, and 31<sup>st</sup> of a month). NYLIAC will make all Interest Sweep transfers on the day of each calendar month you have specified or on the next Business Day (if the day you have specified is not a Business Day). To request an Interest Sweep transfer, you must send an Interest Sweep request form in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The VPSC must receive a completed Interest Sweep request form at least five Business Days prior to the date transfers are scheduled to begin. If the VPSC does not receive a completed Interest Sweep request form within the five Business Days prior to the date you request it to begin, the transfer will begin on the day of the month you specify in the month following the receipt of your request.

The Interest Sweep option may be utilized in addition to traditional Dollar Cost Averaging, Automatic Asset Reallocation, or the DCA Advantage Account. With an Asset Allocation Model, the Interest Sweep option may be utilized with Automatic Asset Reallocation and the DCA Advantage Account. If an Interest Sweep transfer is scheduled for the same day as a transfer related to the traditional Dollar Cost Averaging option, the Automatic Asset Reallocation option or the DCA Advantage Account, we will process the Interest Sweep transfer first.

You may cancel the Interest Sweep option at any time. To cancel the Interest Sweep Option, you must send a written cancellation request in Good Order to the VPSC or contact us by telephone as described in the "CONTACTING NYLIAC" section of this Prospectus. We may also cancel this option if the Fixed Account Accumulation Value is less than $2,000, or such a lower amount as we may determine.

To establish a new Interest Sweep transfer after the option has been cancelled, you must send an Interest Sweep request form in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. You may also process an Interest Sweep transfer by any other method we make available. The VPSC must receive an Interest Sweep request form in Good Order at least five Business Days prior to the date transfers are scheduled to begin. If the VPSC does not receive an Interest Sweep request form in Good Order at least five Business Days prior to the date you request it to begin, transfers will begin on the day of the month you specify in the month following the receipt of your request. Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion. The minimum Fixed Account Accumulation Value required to elect this option is $2,500, but this amount may be reduced at our discretion. Also note that Interest Sweep is not available for policies issued in the State of New York.

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**Charges And Deductions**

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***Transaction Expenses***

*Surrender Charges*

Since no deduction for a sales charge is made from each premium payment, we impose a surrender charge on certain partial withdrawals and surrenders of the policies. The surrender charge covers certain expenses relating to the sale of the policies, including commissions to registered representatives and other promotional expenses. We measure the surrender charge as a percentage of the amount withdrawn or surrendered. The surrender charge applies to certain amounts applied under certain Income Payment options.

If you surrender your policy, we deduct the surrender charge from the amount paid to you. If you make a partial withdrawal, you can direct NYLIAC to take surrender charges either from the remaining value of the Allocation Options from which the partial withdrawals are made, or from the amount paid to you. If you specify the Allocation Options from which to make the withdrawal, we will deduct the surrender charge pro-rata according to your instructions. If you do not specify the Allocation Options from which to make the withdrawal, we will deduct the surrender charge pro-rata from each Allocation Option. If the remaining value in an Allocation Option and/or the DCA Advantage Account, is less than the necessary surrender charge, we will not process the withdrawal. However, you can withdraw any investment gains under your policy without a surrender charge (see "CHARGES AND DEDUCTIONS—Transaction Expenses—Exceptions to Surrender Charges," below).

The guaranteed maximum surrender charge will be 8% of the amount withdrawn. The percentage of the surrender charge varies, depending upon the length of time a premium payment is in your policy before it is withdrawn. For purposes of calculating the applicable surrender charge, we deem premium payments to be withdrawn on a first–in, first–out basis. Unless required otherwise by state law, the surrender charge for amounts withdrawn or surrendered during the first Payment Year(s) following the premium payment to which such withdrawal or surrender is 8% of the amount withdrawn or surrendered. This charge then declines by 1% per year for each additional Payment Year, until the seventh Payment Year, after which no charge is made, as shown in the following chart:

*Amount of Surrender Charge* 

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| | |
|:---|:---|
| **Payment Year** | **Surrender** <br> **Charge**<br>|
| 1 | 8% |
| 2 | 7% |
| 3 | 6% |
| 4 | 5% |
| 5 | 4% |
| 6 | 3% |
| 7 | 2% |
| 8 | 0% |

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In no event will the aggregate surrender charge applied under the policy exceed nine percent (9.0%) of the total premium payments.

*Exceptions to Surrender Charges*

We will not assess a surrender charge:

&nbsp;&nbsp;&nbsp;&nbsp;(a) for policies issued to policyowners age 75 and under, on amounts you withdraw in any Policy Year that are less than or equal to the greatest of (i) 10% of the Accumulation Value as of the last Policy Anniversary (10% of the premium payment if the withdrawal is made in the first Policy Year) less any prior surrender charge free

------

withdrawals during the Policy Year; (ii) 10% of the Accumulation Value at the time of withdrawal, less any prior surrender charge free withdrawals during the Policy Year; or (iii) the Accumulation Value less accumulated premium payments.

&nbsp;&nbsp;&nbsp;&nbsp;(b) for policies issued to policyowners ages 76 to 80, on amounts you withdraw in any Policy Year that are less than or equal to the greatest of (i) 50% of the Accumulation Value as of the last Policy Anniversary (50% of the premium payment if the withdrawal is made the first Policy Year); (ii) the Accumulation Value less the accumulated premium payments; or (iii) 50% of the Accumulation Value at the time of the withdrawal, less any prior Surrender Charge free withdrawals during the Policy Year.

&nbsp;&nbsp;&nbsp;&nbsp;(c) if NYLIAC cancels the policy;

&nbsp;&nbsp;&nbsp;&nbsp;(d) when we pay proceeds upon the death of the policyowner;

&nbsp;&nbsp;&nbsp;&nbsp;(e) when you select an Income Payment option involving life income in any Policy Year after the first Policy Anniversary;

&nbsp;&nbsp;&nbsp;&nbsp;(f) when a required minimum distribution calculated based on the value of this policy is made under a Qualified Policy (this amount will, however, count against the first exception);

&nbsp;&nbsp;&nbsp;&nbsp;(g) on withdrawals you make under the Living Needs Benefit/Unemployment Rider;

&nbsp;&nbsp;&nbsp;&nbsp;(h) on monthly or quarterly periodic partial withdrawals made pursuant to Section 72(t)(2)(A)(iv) of the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;(i) when the aggregate surrender charges under a policy exceed 9.0% of the total premium payments.

*Transfer Fees*

Currently, we do not charge for transfers under the policy. However, we reserve the right to charge up to $30 for each transfer after the first 12 in a given Policy Year, subject to any applicable state insurance law requirements. The charge is to compensate us for the expense of processing the transfer. The transfer charge, if applicable, will be assessed at the time that the transfer is processed and will be deducted from your Accumulation Value and taken pro rata from each Allocation Option. Each time you request a transfer, we will assess the transfer charge, if applicable. Separate requests submitted on the same day will each be treated as separate transfers. Transfers made under traditional Dollar Cost Averaging, Interest Sweep, the DCA Advantage Account, and Automatic Asset Reallocation do not count toward this transfer limit.

*Payments Returned for Insufficient Funds*

If your premium payment is returned for insufficient funds, we reserve the right to reverse your allocation(s) and charge you a $20 fee for each returned payment. The charge is to compensate us for the expense of processing the returned payment. This charge, if applicable, will be assessed at the time the payment is reversed and will be deducted from your Accumulation Value and taken pro rata from each Allocation Option. In addition, the Portfolio may also redeem shares to cover any losses it incurs as result of a returned payment. If a payment is returned for insufficient funds for two consecutive periods, the privileges to pay by check or electronically will be suspended until the VPSC receives a written request to reinstate it in Good Order at one of the addresses noted in the "CONTACTING NYLIAC" section of the Prospectus, and we agree.

***Annual Policy Expenses***

*Base Contract Charges (M&E Charge)*

Prior to the Annuity Commencement Date, we deduct a charge from the assets of the Separate Account to compensate us for certain mortality and expense risks and administrative costs (M&E Charge) we assume under the policies and for providing policy administration services. You may choose to have the M&E Charge assessed based on either the Accumulation Value of the policy or the Adjusted Premium Payments. The M&E Charge is 1.35% (annualized) of the daily average Variable Accumulation Value for Accumulation Value based policies. For Premium based M&E Charge policies, the M&E Charge is 1.55% (annualized) of the Adjusted Premium Payments and will be deducted from the Investment Divisions through a reduction in Accumulation Units each policy quarter (excluding premiums allocated to the Fixed Account that are not transferred to the Investment Divisions). Please note, in some

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jurisdictions, the M&E Charge for policies based on Adjusted Premium Payments cannot be deducted from the DCA Advantage Account. For Accumulation Value based M&E Charge policies, the M&E Charge may vary based on the Accumulation Value of the policy when the M&E Charge is deducted. For Premium based M&E Charge policies, the M&E Charge is assessed based on the Adjusted Premium Payments and will not vary with fluctuations in the policy's Accumulation Value. We guarantee that this charge will not increase. If the charge is insufficient to cover actual costs and assumed risks, the loss will fall on NYLIAC. We expect to profit from this charge. We may use these proceeds for any corporate purpose, including expenses relating to the sale of the policies, to the extent that surrender charges do not adequately cover sales expenses.

The amount of Premium based M&E Charges deducted from your Accumulation Value will be unaffected by fluctuations in market performance. In a rising market, the Premium based M&E Charge structure will benefit the policyowner because the Premium based M&E Charge, when measured as a percentage of separate account assets, will be reduced. In a flat or declining market, the Premium based M&E Charge structure will result in an increase in the charge when measured against separate account assets. The amount of Accumulation Value based M&E Charges assessed to your policy will be affected by fluctuations in market performance. However, the Accumulation Value based M&E Charge structure may be more advantageous in a flat or declining market.

The mortality risk assumed is the risk that Annuitants as a group will live for a longer time than our actuarial tables predict. As a result, we would be paying more Income Payments than we planned. We also assume a risk that the mortality assumptions reflected in our guaranteed annuity payment tables, shown in each policy, will differ from actual mortality experience. Lastly, we assume a mortality risk that, at the time of death, the guaranteed minimum death benefit will exceed the policy's Accumulation Value. The expense risk assumed is the risk that the cost of issuing and administering the policies will exceed the amount we charge for these services. We expect to make a profit from this charge, which we may use for any purpose.

*Administrative Expense – Policy Service Charge*

We deduct an annual policy service charge of $30 each Policy Year on the Policy Anniversary and upon surrender of the policy. However, we will waive the annual policy service charge if your policy has $100,000 or more of Accumulation Value on a given Policy Anniversary.

We deduct the annual policy service charge from each Allocation Option and the DCA Advantage Account, if applicable, in proportion to its percentage of the Accumulation Value in each option on the Policy Anniversary or date of surrender. This charge is designed to cover the costs for providing services under the policy such as collecting, processing, and confirming premium payments and establishing and maintaining the available methods of payment.

***Optional Benefit Expenses***

*Investment Protection Plan Rider Charge*

If you purchase the Investment Protection Plan, we will deduct a charge on the first Business Day of the next policy quarter following each policy quarter that the rider is in effect based on the amount that is guaranteed. This charge is to compensate NYLIAC for the risk of the underlying guarantee provided by the rider. We deduct this charge beginning with the first policy quarter after the effective date of the rider. (See "FEE TABLE.") This charge is to compensate NYLIAC for the risk of the underlying guarantee provided by the rider. We will deduct the charge from each Allocation Option and the DCA Advantage Account in proportion to its percentage of the Accumulation Value on the first Business Day of the applicable policy quarter.

If you purchased the IPP Rider before February 15, 2010, the maximum annual charge is 1.00% of the amount that is guaranteed. The maximum annual charge for policyowners who select this feature on or after February 15, 2010 is 1.25% of the amount that is guaranteed. We may set a lower charge at our sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;For IPP Riders selected before February 15, 2010, the current annual charge if you choose to reset your IPP Rider is 0.80% of the amount that is guaranteed, applied on a quarterly basis (0.20% per quarter).

&nbsp;&nbsp;&nbsp;&nbsp;For IPP Riders selected on or after February 15, 2010, the current charge and the charge if you elect to reset your IPP Rider is 0.70% of the amount that is guaranteed, applied on a quarterly basis (0.175% per quarter).

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You should check with your registered representative to determine the percentage we are currently charging before you purchase this feature.

If you reset the amount that is guaranteed, a new charge for the rider may apply. This charge may be more or less than the charge currently in effect on your policy but will never exceed the stated maximum. The charge in effect on the effective date of the rider or on the effective date of any reset will not change after the date the rider (or any reset) becomes effective, unless you again reset the rider's guaranteed amount. After a reset, we will continue to deduct the current charge until the first policy quarter following the effective date of the reset.

*Investment Protection Plan II Rider Charge*

IPP II was available as an option under the policy at the time of application, but is no longer available. If you purchased IPP II, we deduct a charge each policy quarter based on the amount that is guaranteed. We deduct this charge beginning with the first policy quarter after the effective date of the rider. (See "FEE TABLE.") In most jurisdictions, we deduct the charge from each Allocation Option and the DCA Advantage Account in proportion to its percentage of the Accumulation Value on the first Business Day of the applicable policy quarter.

The guaranteed maximum annual charge is 1.50% of the amount that is guaranteed. We may set a lower charge at our sole discretion.

If you choose to reset your IPP II Rider, the current charge is 0.70% of the amount that is guaranteed, applied on a quarterly basis (0.175% per quarter).

If you reset the amount that is guaranteed, a new charge for IPP II may apply. This charge may be more or less than the charge currently in effect on your policy, but will never exceed the stated maximum. The charge in effect on the effective date of the rider or on the effective date of any reset will not change after the date the rider (or any reset) becomes effective, unless you again reset the rider's guaranteed amount. We will continue to deduct the current charge until the first policy quarter following the effective date of the reset.

*Guaranteed Investment Protection Rider Charge*

GIPR was available as an option under the policy at the time of application, but is no longer available. If you purchased GIPR, we deduct a charge each policy quarter based on the amount that is guaranteed. We deduct this charge beginning with the first policy quarter after the effective date of the rider. (See "FEE TABLE.") In most jurisdictions, we deduct the charge from the Investment Divisions and DCA Advantage Account on a pro–rata basis on the first Business Day of the applicable policy quarter.

The guaranteed maximum annual charge is 1.50% of the amount that is guaranteed. We may set a lower charge at our sole discretion.

If you choose to reset your GIPR Rider, the current charge is 0.70% of the amount that is guaranteed, applied on a quarterly basis (0.175% per quarter).

If you reset the amount that is guaranteed, a new charge for GIPR may apply. This charge may be more or less than the charge currently in effect on your policy, but will never exceed the stated maximum. The charge in effect on the effective date of the rider or on the effective date of any reset will not change after the date the rider (or any reset) becomes effective, unless you again reset the rider's guaranteed amount. We will continue to deduct the current charge until the first policy quarter following the effective date of the reset.

*Guaranteed Investment Protection Rider 2.0 Charge*

GIPR 2.0 was available as an option under the policy at the time of application, but is no longer available. If you purchased GIPR 2.0, we deduct a charge each policy quarter based on the amount that is guaranteed. We deduct this charge beginning with the first policy quarter after the effective date of the rider. (See "FEE TABLE.") In most jurisdictions, we deduct the charge from the Investment Divisions and DCA Advantage Account on a pro–rata basis on the first Business Day of the applicable policy quarter.

The guaranteed maximum annual charge ranges from 1.50% to 2.00% of the amount that is guaranteed, depending on the term you choose. We may set a lower charge at our sole discretion.

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For GIPR 2.0 Rider Resets, the current charge ranges from 0.45% to 1.00% of the amount that is guaranteed, applied on a quarterly basis (0.1125% to 0.025% per quarter), depending on the term you choose.

If you reset the amount that is guaranteed, a new charge for GIPR 2.0 may apply. This charge may be more or less than the charge currently in effect on your policy but will never exceed the stated guaranteed maximum. The charge in effect on the effective date of the rider or on the effective date of any reset will not change after the date the rider (or any reset) becomes effective, unless you again reset the rider's guaranteed amount. We will continue to deduct the current charge until the first policy quarter following the effective date of the reset.

*Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge)*

If you cancel the Investment Protection Plan Rider, the Investment Protection Plan II Rider, the Guaranteed Investment Protection Rider or the Guaranteed Investment Protection Rider 2.0, we will deduct a one-time Rider Risk Charge Adjustment from your Accumulation Value in certain Investment Divisions or the DCA Advantage Account. This charge is to compensate NYLIAC for the costs and risks we assume in providing the benefit. The cancellation will be effective on the date that the VPSC (at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus) receives your cancellation request in Good Order. (See "FEE TABLE.") In most jurisdictions, we will deduct the Rider Risk Charge Adjustment from an Investment Division or the DCA Advantage Account in proportion to its percentage of the Accumulation Value on that day. We will not deduct this charge if you surrender your policy. However, surrender charges may apply.

We will not change the adjustment for a particular policy once it is set on the date the rider takes effect. The maximum Rider Risk Charge Adjustment is 2.00% of the amount that is guaranteed, except in the case of the GIPR 2.0 Rider with a 20–year term, which has a 1.00% maximum. We may set a lower charge at our sole discretion. You should check with your registered representative to determine the percentage we are currently charging before you decide to cancel.

If you reset the amount that is guaranteed, a new Rider Risk Charge Adjustment may apply. This charge may be more or less than the charge currently in effect on your policy, but will never exceed the stated maximum. The adjustment charge in effect on the effective date of the rider or on the effective date of any reset will not increase after the rider is issued.

*Enhanced Beneficiary Benefit Rider Charge*

If you purchased the EBB Rider (in jurisdictions where available), we will deduct a charge each policy quarter that the rider is in effect based on the Accumulation Value. This charge is to compensate NYLIAC for the risk of the underlying guarantee provided by the rider. We will deduct this charge beginning with the first policy quarter after the Policy Date. In most jurisdictions, this charge will be deducted quarterly from each Allocation Option and DCA Advantage Account in proportion to its percentage of the Accumulation Value.

The maximum annual charge is 1.00% of the policy's Accumulation Value, applied on a quarterly basis. We may set a lower charge at our sole discretion. The current charge for the EBB Rider is 0.30% of the policy's Accumulation Value, applied on a quarterly basis (0.075% per quarter). This charge will not change once your policy is issued.

*Annual Death Benefit Reset (ADBR) Rider Charge*

If you purchased the ADBR Rider, we will deduct a charge each policy quarter that the rider is in effect based on the amount that is guaranteed as of the last Reset Anniversary. This charge is to compensate NYLIAC for the risk of the underlying guarantee provided by the rider. In most jurisdictions, this charge will be deducted from each Investment Division, the DCA Advantage Account, and the Fixed Account, in proportion to its percentage of the Accumulation Value of the applicable quarter and will not reduce your Adjusted Premium Payments. However, for policies issued in New York, this charge will be deducted only from the Variable Accumulation Value. This charge will continue to be deducted while the policy remains in–force.

The charge for the ADBR Rider is based upon your age when the policy is issued, which will not change. The maximum annual charge is 1.00% of the most recent reset amount, or the initial premium payment in the first Policy Year. You should check with your registered representative to determine the percentage we are currently charging. As of the date of this Prospectus, the charges are as follows:

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| | | |
|:---|:---|:---|
| **Age of Oldest Owner at Issue** | **Annual Charge** | **Annual Charge** |
| 65 or younger | 0.30% | (.0750% per quarter) |
| 66 to 75 inclusive | 0.35% | (.0875% per quarter) |

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*Investment Protection Plan Rider/Annual Death Benefit Reset Rider Package Charge*

If you purchased the Investment Protection Plan Rider/Annual Death Benefit Reset Rider combination package ("IPP + ADBR"), we deduct reduced ADBR and IPP rider charges each policy quarter that the IPP + ADBR package is in effect. The maximum annual charge for the combination of the ADBR and IPP rider charges is 2.00%. With the IPP + ADBR package, the current ADBR Rider charge is 0.25% of the amount that is reset on the last policy anniversary, applied on a quarterly basis. With the IPP + ADBR package, for policies purchased before February 15, 2010, the current IPP Rider reset charge is 0.75% of the amount that is guaranteed under the IPP Rider, applied on a quarterly basis. With the IPP + ADBR package, for policies purchased after February 15, 2010, the current IPP rider reset charge is 0.65%. Please note that if the IPP Rider is cancelled, the charge for the ADBR Rider will revert to the charge that is assessed for that rider, if purchased separately.

*Investment Protection Plan II Rider/Annual Death Benefit Reset Rider Package Charge*

If you purchased the Investment Protection Plan II Rider/Annual Death Benefit Reset Rider combination package ("IPP II + ADBR"), we deduct reduced ADBR and IPP II rider charges each policy quarter that the IPP II + ADBR package is in effect. The maximum annual charge for the combination of the ADBR and IPP II Rider charges is 2.00%. With the IPP II + ADBR package, the current ADBR Rider charge is 0.25% of the most recent reset amount, applied on a quarterly basis. With the IPP II + ADBR package, the current IPP II Rider reset charge is 0.65% of the amount that is guaranteed under the IPP II, applied on a quarterly basis. Please note that if IPP II is cancelled, the charge for the ADBR Rider will revert to the charge that is assessed for that rider, if purchased separately.

*Guaranteed Investment Protection Rider/Annual Death Benefit Reset Rider Package Charge*

If you purchased the Guaranteed Investment Protection Rider/Annual Death Benefit Reset Rider combination package ("GIPR + ADBR") (in jurisdictions where available), we deduct reduced ADBR and GIPR rider charges each policy quarter that the GIPR + ADBR package is in effect. The maximum annual charge for the combination of the ADBR and GIPR rider charges is 2.00%. With the GIPR + ADBR package, the current ADBR Rider charge is 0.25% of the most recent reset amount, applied on a quarterly basis. With the GIPR + ADBR package, the current GIPR Rider reset charge is 0.65% of the amount that is guaranteed under the GIPR, applied on a quarterly basis. Please note that if GIPR is cancelled, the charge for the ADBR Rider will revert to the charge that is assessed for that rider, if purchased separately.

*Guaranteed Investment Protection Rider 2.0/Annual Death Benefit Reset Rider Package Charge*

If you purchased the Guaranteed Investment Protection Rider 2.0/Annual Death Benefit Reset Rider combination package ("GIPR 2.0 + ADBR") (in jurisdictions where available), we deduct reduced ADBR and GIPR 2.0 rider charges each policy quarter that the GIPR 2.0 + ADBR package is in effect. The maximum annual charge for the combination of the ADBR and GIPR 2.0 rider charges ranges from 2.00% to 2.50%, depending on the GIPR 2.0 term you choose. With the GIPR 2.0 + ADBR package, the current ADBR rider charge is 0.25% of the most recent reset amount, applied on a quarterly basis. With the GIPR 2.0 + ADBR package, the current GIPR 2.0 Rider reset charge ranges from 0.40% to 0.95% of the amount that is guaranteed under the GIPR 2.0, applied on a quarterly basis, depending on the GIPR 2.0 term you choose. Please note that if GIPR 2.0 is cancelled, the charge for the ADBR Rider will revert to the charge that is assessed for that rider, if purchased separately.

***Annual Portfolio Expenses***

Portfolio fees and expenses are deducted from and paid out of the assets of the Portfolios. The value of the assets of the Separate Account will indirectly reflect the Portfolios' total fees and expenses. The Portfolios' total fees and expenses are not part of the policy. They may vary in amount from year to year. These fees and expenses are described in detail in the relevant Portfolio's prospectus and/or SAI. A complete list of Portfolios available under the policy, including their annual expenses, may be found in **APPENDIX 2A**.

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Certain 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 Investment Company Act of 1940. In such cases, we would administer the Portfolio fees and deduct them from your Accumulation Value or transaction proceeds.

***Group and Sponsored Arrangements***

For certain group or sponsored arrangements, we may reduce the surrender charge and the policy service charge or change the minimum initial and additional premium payment requirements. Group arrangements include those in which a trustee or an employer, for example, purchases policies covering a group of individuals on a group basis. Sponsored arrangements include those in which an employer allows us to sell policies to its employees or retirees on an individual basis.

Our costs for sales, administration, and mortality generally vary with the size and stability of the group among other factors. We take all these factors into account when reducing charges. To qualify for reduced charges, a group or sponsored arrangement must meet certain requirements, including our requirements for size and number of years in existence. Group or sponsored arrangements that have been set up solely to buy policies or that have been in existence less than six months will not qualify for reduced charges.

We will make any reductions according to our rules in effect when an application or enrollment form for a policy is approved. We may change these rules from time to time. Any variation in the surrender charge or policy service charge will reflect differences in costs or services and will not be unfairly discriminatory.

***Taxes***

NYLIAC may, where premium taxes are imposed by state law, deduct such taxes from your policy either: (i) when a surrender or cancellation occurs, or (ii) at the Annuity Commencement Date. Applicable premium tax rates depend upon such factors as your current state of residency, and the insurance laws and NYLIAC's status in states where premium taxes are incurred. Current premium tax rates range from 0% to 3.5%. Applicable premium tax rates are subject to change by legislation, administrative interpretations or judicial acts.

We may in the future seek to amend the policies to deduct premium taxes when a premium payment is received.

Under present laws, NYLIAC will also incur state and local taxes (in addition to the premium taxes described above) in several states. NYLIAC may assess charges for such taxes.

NYLIAC does not expect to incur any federal income tax liability attributable to investment income or capital gains retained as part of the Separate Account reserves under the policies. (See "FEDERAL TAX MATTERS."). Based upon these expectations, no charge is being made currently for corporate federal income taxes which may be attributable to the Separate Account. Such a charge may be made in future years for any federal income taxes NYLIAC incurs.

**Distributions Under The Policy**

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***Surrenders and Withdrawals***

You can make partial withdrawals, periodic partial withdrawals, hardship withdrawals, or surrender the policy to receive part or all of the Accumulation Value at any time before the Annuity Commencement Date and while the Annuitant is living. To request a surrender or withdrawal, you can send a written request in Good Order to the VPSC at one of the addresses listed on the "CONTACTING NYLIAC" section of this Prospectus or utilize any other method we make available. Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion. If the request is in Good Order, the amount available for withdrawal is the Accumulation Value at the end of the Business Day that the VPSC receives the written request, less any surrender charges, taxes that we may deduct, and the annual policy service charge, if applicable. If you have not provided us with a written election not to withhold federal income taxes at the time you make a withdrawal or surrender request, NYLIAC must by law withhold such taxes from the taxable portion of any surrender or withdrawal. We will remit that amount to the federal government. In addition, some states have enacted legislation requiring withholding. You can also request a partial withdrawal online at www.newyorklife.com or the mobile application. NYLIAC will pay all surrenders or withdrawals

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within seven days of receipt of all required information in Good Order (including documents necessary to comply with federal and state tax law), subject to postponement in certain circumstances. (See "THE POLICIES—Delay of Payments").

Since you assume the investment risk with respect to amounts allocated to the Separate Account and because certain surrenders or withdrawals are subject to a surrender charge and premium tax deduction, the total amount paid upon surrender of the policy (taking into account any prior withdrawals) may be more or less than the total premium payments made.

Surrenders and withdrawals may be taxable transactions, and the Code provides that a 10% penalty tax may be imposed on certain early surrenders or withdrawals made before the Owner attains age 59½ (the penalty tax is increased to 25% in the case of a distribution from a SIMPLE IRA within the first two years of your participation in the SIMPLE IRA Plan.) (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.") In addition, taxable surrenders and withdrawals may be subject to an additional 3.8 percent tax on net investment income. (See "FEDERAL TAX MATTERS—3.8 Percent Tax on Certain Investment Income.")

*Surrenders*

We may deduct a surrender charge and any state premium tax, if applicable, any outstanding loan balance, and the annual policy service charge, if applicable, from the amount paid. For surrender requests over $50,000, we may require additional verification of your identity before the request can be deemed in Good Order. For surrender requests of any size, if your address or bank account information has been on file with us for less than thirty (30) days, we may require additional verification of your identity before we will process a request to send surrender proceeds electronically to that bank account or through the mail to that address. (See "ANNUITY PAYMENTS (THE INCOME PHASE)—Income Payments.") Surrenders may be taxable transactions and a 10% penalty tax may be applicable if the surrender is made before the Owner attains age 59½. (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.")

*Partial Withdrawals*

The minimum amount that can be withdrawn is $500 unless we agree otherwise. We will withdraw the amount from the Allocation Options in accordance with your request. However, if you do not specify how to allocate a partial withdrawal among the Allocation Options, we will deduct the partial withdrawal on a pro-rata basis. Your requested partial withdrawal will be effective on the date we receive your request in Good Order at the VPSC or online at www.newyorklife.com or the mobile application. However, if that day is not a Business Day or if your request is received after the close of the NYSE, then the requested partial withdrawal will be effective on the next Business Day. Generally, we will pay the partial withdrawal within seven days of that date. Partial withdrawals may be taxable transactions and the 10% penalty tax provisions may be applicable. (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.")

If a surrender charge applies to your partial withdrawal, surrender charges will be deducted from the amount paid to you unless you instruct us otherwise. You may, however, request to have the surrender charges taken from the remaining value of the Allocation Options from which partial withdrawals are made. If you specify the Allocation Options from which to make the withdrawal, we will deduct the surrender charge pro-rata according to your instructions. If you do not specify the Allocation Options from which to make the withdrawal, we will deduct the surrender charge pro-rata from each Allocation Option.

If the requested partial withdrawal is equal to the value in any of the Allocation Options from which the partial withdrawal is being made, we will pay the entire value of that Allocation Option and/or the DCA Advantage Account, less any surrender charge that may apply to you. If honoring a partial withdrawal request would result in an Accumulation Value of less than $2,000, we reserve the right to terminate your policy and pay you the Accumulation Value in a single sum, subject to any applicable state insurance law or regulation. We will notify you of our intention to exercise this right and give you 90 days to make a premium payment. If we terminate your policy, we will pay you the Accumulation Value of your policy in one lump sum.

Currently, online withdrawals cannot exceed $250,000 and telephone partial withdrawals cannot exceed $100,000. We may require additional verification of your identity for written or telephone partial withdrawal requests for amounts greater than $50,000 before the request can be deemed in Good Order. For withdrawal requests of any size, if your

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address or bank account information has been on file with us for less than 30 days, we may require the request in writing or require additional verification of your identity, in a means acceptable to us, before we will process a request to send partial withdrawal proceeds electronically to that bank account or through the mail to that address. In addition, partial withdrawal requests made from policies that are less than 90 days old or that had an ownership change within 30 days of such partial withdrawal request must be made in writing and sent to the VPSC at one of the addresses noted in the "CONTACTING NYLIAC" section of this Prospectus. Faxed and e-mailed requests are not currently accepted; however, we reserve the right to accept them at our discretion.

**It is important to note that any withdrawal may reduce the Guaranteed Amount and death benefit proportionally.**

*Periodic Partial Withdrawals*

You may elect to receive regularly scheduled partial withdrawals from the policy. These periodic partial withdrawals may 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 29<sup>th</sup>, 30<sup>th</sup>, or 31<sup>st</sup> of a month). 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). To process Periodic Partial Withdrawals, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus, or utilize any other method we make available. NYLIAC must receive a request no later than five Business Days prior to the date the withdrawals are to begin. If we receive your request less than five Business Days prior to the date you request withdrawals to begin, the withdrawals will begin on the day of the month you specify in the month following the receipt of your request. Faxed and e-mailed requests are not currently accepted; however, we reserve the right to accept them at our discretion. You may specify the Allocation Options from which the periodic partial withdrawals will be made. The minimum amount is $100, or such lower amount as we may permit. Periodic partial withdrawals may be taxable transactions and the 10% penalty tax provisions may be applicable. (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.") If you do not specify otherwise, we will withdraw money on a pro-rata basis from each Investment Division and/or the Fixed Account. You may not make periodic partial withdrawals from the DCA Advantage Account. You can elect to receive "Interest Only" periodic partial withdrawals for the interest earned on monies allocated to the Fixed Account. This option is not available for policies issued in the State of New York. If this option is chosen, the $100 minimum for periodic partial withdrawals will be waived. However, you must have at least $5,000 in the Fixed Account at the time of each periodic partial withdrawal, unless we agree otherwise.

**It is important to note that any withdrawal may reduce the Guaranteed Amount and death benefit proportionally.**

*Hardship Withdrawals*

Under certain Qualified Policies, the Plan Administrator (as defined in Code Section 414(g)) may allow, in its sole discretion, certain withdrawals it determines to be "Hardship Withdrawals." The surrender charge and 10% penalty tax, if applicable, and provisions applicable to partial withdrawals apply to Hardship Withdrawals.

***Required Minimum Distributions***

The age when required minimum distributions must begin for IRAs, SIMPLE IRAs, SEP IRAs, and TSAs is now based on your "applicable age" as defined in the Code.

If you were born prior to July 1, 1949, your applicable age was 70½. If you were born on or after July 1, 1949, and before January 1, 1951, your applicable age was 72. If you were born on or after January 1, 1951 and before January 1, 1960, your applicable age is 73. If you were born on or after January 1, 1960, your applicable age is 75.

For IRAs, SIMPLE IRAs and SEP IRAs, the policyowner is generally not required to start taking required minimum distributions until April 1st of the year following the calendar year he or she attains their applicable age. For TSAs, the policyowner is generally not required to start taking required minimum distributions until April 1st of the year following the later of the calendar year he or she attains their applicable age or the calendar year he or she retires. For Inherited IRAs and Inherited Roth IRAs, a policyowner is generally required to take the first required minimum distribution on or before December 31 of the calendar year following the year of the original owner's death. For

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Inherited Non-Qualified policies, the policyowner is generally required to take the first required minimum distribution prior to the first anniversary of the original owner's death.

***Our Right to Cancel***

In most jurisdictions, if we do not receive any premium payments for a period of two years, and the Accumulation Value of your policy would provide Income Payments of less than $20 per month on the Annuity Commencement Date, we reserve the right to terminate your policy subject to any applicable state insurance law or regulation. We will notify you of our intention to exercise this right and, provided that you are not older than the maximum age for making a premium payment as stated on the Policy Data Page, give you 90 days to make a premium payment. If we terminate your policy, we will pay you the Accumulation Value of your policy in one lump sum. For single premium policies, this section is modified as indicated in APPENDIX 1 of this Prospectus. For more information about our right to cancel policies issued in New York, see APPENDIX 3 – State Variations.

***Restrictions Under Code Section 403(b)(11)***

With respect to 403(b) TSAs, distributions attributable to salary reduction contributions made in years beginning after December 31, 1988 (including the earnings on these contributions), as well as to earnings in such years on salary reduction accumulations held as of the end of the last year beginning before January 1, 1989, may not begin before the employee attains age 59½, has a severance from employment, dies or becomes disabled. The Code section 403(b) plan may also provide for distribution in the case of hardship. However, hardship distributions are limited to amounts contributed by salary reduction. The earnings on such amounts may not be withdrawn. However, for plan years beginning after December 31, 2023, all amounts are available for a hardship distribution. Even though a distribution may be permitted under these rules (e.g., for hardship or due to a severance from employment), it may still be subject to a 10% additional income tax as a premature distribution.

Under the final Code section 403(b) regulations, which the Department of Treasury published on July 26, 2007, employer contributions made to Code section 403(b) TSA contracts will be subject to new withdrawal restrictions. Under the new rules, amounts attributable to employer contributions to a Code section 403(b) TSA contract that is issued after December 31, 2008 may not be distributed earlier than the earliest of severance from employment or upon the occurrence of a certain event, such as after a fixed number of years, the attainment of a stated age, or disability. These new withdrawal restrictions do not apply to Code section 403(b) TSA contracts issued before January 1, 2009.

Under the terms of your Code section 403(b) plan, you may have the option to invest in other funding vehicles, including Code section 403(b)(7) custodial accounts. You should consult your plan document to make this determination.

***Loans***

***Availability of Loans and Limitations****.* Loans are available only if you have purchased an Accumulation Value–based M&E Charge policy in connection with a 403(b) Tax–Sheltered Annuity ("TSA") plan. Loans are not available for policies with an investment protection rider. Under your 403(b) policy, you may borrow against your policy's Accumulation Value prior to the Annuity Commencement Date. Unless we agree otherwise, only one loan may be outstanding at a time. There must be a minimum Accumulation Value of $5,000 in the policy at the time of the loan. The minimum loan amount is $500, unless you are using the loan to purchase a primary residence, as described below. The maximum loan that you may take is the lesser of: (a) 50% of the policy's Accumulation Value on the date of the loan or (b) $50,000 minus your highest outstanding principal balance in the previous 12 months from your policy and any qualified employer plan (as defined under Sections 72(p)(4) and 72(p)(2)(D) of the Code). Please note that adverse tax consequences could result from your failure to comply with this limitation. NYLIAC, and its affiliates and agents do not provide legal or tax advice nor assume responsibility or liability for any legal or tax consequences of any TSA loan taken under a 403(b) policy or the compliance of such loan with the Code limitations set forth in this paragraph or for determining whether any plan or loan is subject to and/or complies with ERISA.

*Your Policy as Collateral for a Loan.* Your policy will be used as collateral to secure this loan. Any amount that secures a loan remains part of your policy's Accumulation Value, but it is transferred to the Fixed Account. We credit any amount that secures a loan (the loaned amount) with an interest rate that we expect to be different than the interest rate we credit any unloaned amount in the Fixed Account.

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When you request a loan, a transfer of funds will be made from the Separate Account (and/or DCA Advantage Accounts, if so requested) to the Fixed Account so that the Accumulation Value in the Fixed Account is at least 125% of the requested loan amount. We will transfer these funds from the Investment Divisions of the Separate Account (and/or DCA Advantage Accounts, if so requested) in accordance with your instructions or, if you have not provided us with any instructions, in proportion to the amounts you have in each Investment Division (and/or DCA Advantage Accounts, if so requested). While any policy loan is outstanding, you may not make any partial withdrawals or transfers which would reduce the Fixed Account Accumulation Value to an amount that is less than 125% of the outstanding loan balance, or which will reduce your Accumulation Value net of the outstanding loan to less than $5,000.

*Interest Charged for a Loan.* For policies not governed by ERISA, we charge an effective annual loan interest rate of 5%. For policies governed by ERISA, the interest rate we charge will be based on the Prime Rate, as reported in the Wall Street Journal on the first Business Day of a calendar year or the Moody's Corporate Bond Yield Average as of two months before the date the rate is determined. The rate is determined on the first Business Day of the calendar year. Once set, the interest rate will be fixed for the life of the loan. Interest accrues daily and is charged quarterly as part of your periodic loan repayments.

*Interest Credited on the Fixed Account Accumulation Value Held as Collateral for a Policy Loan.* When you take a loan against your policy, the loaned amount that we hold in the Fixed Account as collateral for your policy loan may earn interest at a different rate from the rate that we charge you for loan interest. The rate we credit on the loaned amount in the Fixed Account may also be different from the rate we credit on other amounts in the Fixed Account. For the amount held in the Fixed Account that is used to secure 100% of the outstanding loan value, we will credit interest at a rate that is 2% less than the interest rate charged on the loan. The additional 25% being held in the Fixed Account to secure the loan will be credited with the current declared interest rate for the Fixed Account. The credited interest rate will always be at least equal to the minimum guaranteed interest rate stated on the Policy Data Page. Interest is credited on a daily basis.

*Requesting a Loan.* We reserve the right to withdraw a loan processing fee of $25 from the Accumulation Value on a pro rata basis, unless prohibited by applicable state law or regulation. To request a loan, you must send a written request in Good Order to the VPSC. 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 a form acceptable to us, before we will process a request to send loan proceeds electronically to that bank account or through the mail to that address.

*When Loan Payments are Due.* Once you take a loan, your scheduled loan repayments (which include accrued loan interest), are due quarterly and over a period no greater than five years from the date it is taken (except with respect to loans taken to purchase a principal residence as explained below). If you do not make a loan payment when it is due, we will withdraw the amount in default from your Fixed Accumulation Value to the extent permitted by federal income tax rules. We will take such a repayment on a first–in, first–out (FIFO) basis from amounts allocated to the Fixed Account.

Loan payments must be sent to the VPSC at the address as shown in the "CONTACTING NYLIAC" section of this prospectus (or any other address we indicate to you in writing). Loan repayments are applied in accordance with your existing premium allocation instructions unless you provide alternate instructions in writing.

The entire amount of your outstanding loan may be treated as a taxable distribution.

*Loans used to Acquire a Principal Residence.* We permit loans to acquire a principal residence under the same terms described above, except that:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the minimum loan amount is $5,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) repayment of the loan amount may be extended to a maximum of twenty–five years.

*The Effects of a Policy Loan on Accumulation Value, Income Payments and the Standard Death Benefit.* A loan, repaid or not, has a permanent effect on your Accumulation Value. This effect occurs because amounts borrowed are removed from your Investment Divisions (which receive investment performance) and placed into the Fixed 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 Accumulation Value. The effect could be favorable or unfavorable. If the Investment Divisions earn more than the annual interest rate credited to loaned amounts held in the Fixed Account, your Accumulation Value will not increase as rapidly as it would have had no loan

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been made. If the Investment Divisions earn less than the interest credited to loaned amounts held in the Fixed Account, then your Accumulation 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 proceeds that might otherwise be payable as Income Payments or under your Policy's Standard Death Benefit.

We deduct any outstanding loan balance including any accrued interest from the Fixed Accumulation Value prior to payment of a surrender or the commencement of the annuity benefits. On death of the policyowner or Annuitant, we deduct any outstanding loan balance plus accrued loan interest from the Fixed Accumulation Value as a partial withdrawal as of the date we receive the notice of death.

Loans are subject to the terms of the policy, your 403(b) plan and the Code, which may impose restrictions upon them. We reserve the right to suspend, modify, or terminate the availability of loans under this policy at any time. However, any action taken by us will not affect already outstanding loans. **Also note that for Premium–Based M&E Charge policies purchased in connection with TSA plans, you may not borrow any portion of your Accumulation Value.**

**Annuity Payments (The Income Phase)**

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***Annuity Commencement Date***

The income phase of your policy occurs when you begin receiving regular payments from us (Income Payments). The Annuity Commencement Date is the day those Income Payments begin (sometimes referred to as annuitization of the policy) unless the policy has been surrendered or an amount has been paid as proceeds to the designated Beneficiary prior to that date. The Annuity Commencement Date is the date specified on the Policy Data Page, but is usually the date you attain age 95. The earliest possible Annuity Commencement Date is the first Policy Anniversary. If we agree, you may change the Annuity Commencement Date to an earlier date. If we agree, you may also defer the Annuity Commencement Date to a later date, which could be as late as the date you attain age 115, provided that we receive notice of the request in Good Order at least one month before the last selected Annuity Commencement Date, and that applicable state law permits a deferral to such date. To request to change or defer the Annuity Commencement Date to a later date, subject to the constraints noted above, you must provide notice in a form acceptable to us (or as required under state law) in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. You may not withdraw any Accumulation Value from your policy after the Annuity Commencement Date. Any request for a partial withdrawal must be received at least 30 days prior to the Annuity Commencement Date.

The Annuity Commencement Date and Income Payment method for Qualified Policies may also be controlled by endorsements, the plan, or applicable law.

***Income Payments***

*Election of Income Payment Options*

On the Annuity Commencement Date, the Accumulation Value will be applied to provide a monthly Income Payment. Unless you instruct us otherwise, we will make Income Payments under the Life Income – Guaranteed Period Payment Option, under which we will make equal Income Payments for your lifetime or for ten (10) years, if you die before receiving ten (10) years of Income Payments. (See "ANNUITY PAYMENTS" in the Statement of Additional Information.) However, on or before the Annuity Commencement Date, you can elect to receive Income Payments under such other option we may offer at that time where permitted by state laws. We will require that a lump sum payment be made if the Accumulation Value is an amount that would provide Income Payments of less than $20 a month on the Annuity Commencement Date. If the Life Income – Guaranteed Period Payment Option is not chosen, you may change the Income Payment option or request any other method of payment we agree to at any time before the Annuity Commencement Date. To change the Income Payment option or to request another method of payment prior to the Annuity Commencement Date, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. However, once payments begin, you may not change the option. If a life Income Payment option is chosen, we may require proof of birth date before Income Payments begin. For Income Payment options involving life income, the actual age of the Annuitant(s) will affect the amount of each payment. Since payments based on older Annuitants are expected to be fewer in number, the amount

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of each annuity payment should be greater. We will make payments under the Life Income Guaranteed Period Payment Option in the same specified amount and over the life of the Annuitant(s) with a guarantee of ten (10) years of payments, even if an Annuitant dies sooner. NYLIAC does not currently offer variable Income Payment options.

A policyowner may elect to apply a portion of the Accumulation Value toward one of the Income Payment options we may offer, while the remainder of the policy continues to accumulate income on a tax–deferred basis. This is called a partial annuitization. A partial annuitization will reduce the benefits provided under the policy. The Accumulation Value will be reduced by the amount placed under one of the Income Payment options we may offer. Under a partial annuitization, the policy's Accumulation Value, any riders under the policy and any charges assessed will be treated the same as they would under any other withdrawal from the policy's Accumulation Value, except that surrender charges will not be assessed. (See "FEDERAL TAX MATTERS.")

**It is important to note that partial annuitizations will reduce the Standard Death Benefit and any optional benefit proportionally.** 

Under Income Payment options involving life income, the Payee may not receive Income Payments equal to the total premium payments made under the policy if the Annuitant dies before the actuarially predicted date of death. We base Income Payment options involving life income on annuity tables that vary on the basis of gender, unless the policy was issued under an employer sponsored plan or in a state which requires unisex rates.

Taxable Income Payments may be subject to an additional 3.8 percent tax on net investment income. (See "FEDERAL TAX MATTERS—3.8 Percent Tax on Certain Investment Income.")

*Proof of Survivorship*

We may require satisfactory proof of survival from time to time, before we pay any Income Payments or other benefits. We will request the proof at least 30 days prior to the next scheduled Payment Date.

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**The Fixed Account**

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The Fixed Account is backed by assets in NYLIAC's general account, which includes all of NYLIAC's assets except those assets specifically allocated to NYLIAC's separate accounts. NYLIAC has sole discretion to invest the assets of the Fixed Account subject to applicable law. The Fixed Account is not registered under the federal securities laws and is generally not subject to their provisions. Therefore, generally you do not have the benefits and protections of these statutes for amounts allocated to the Fixed Account. These disclosures regarding the Fixed Account may be subject to certain applicable provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses. The Fixed Account is not available for policies issued in the State of New York. If the five–year Constant Maturity Treasury Rate, less 125 basis points, is below 3%, we may refuse the allocation of all or a portion of your Premium Payment to the Fixed Account.

*Interest Crediting*

NYLIAC guarantees that it will credit interest at an annual effective rate of at least the minimum guaranteed interest rate stated on the Policy Data Page of your policy, to amounts allocated or transferred to the Fixed Account under the policies. The guaranteed minimum interest rate will never be lower than 0.05% and as of the date of this Prospectus, the guaranteed minimum interest rate is 1.00%. Please contact your registered representative for the current guaranteed minimum interest rate. We credit interest on a daily basis. NYLIAC may, at its sole discretion, credit a higher rate or rates of interest to amounts allocated or transferred to the Fixed Account.

Interest rates will be set on the anniversary of each premium payment or transfer. All premium payments, any Breakpoint Credits, and additional amounts (including transfers from other Investment Divisions) allocated to the Fixed Account, plus prior interest earned on such amounts, will receive their applicable interest rate for one–year periods from the anniversary on which the allocation or transfer was made. The Fixed Account Accumulation Value will never be less than the Fixed Account portion of the Nonforfeiture Value.

Information regarding the features of the Fixed Account, including (i) its name and (ii) its guaranteed minimum interest rate, is available in an appendix to the prospectus. See Appendix 2A - Investment Options Available Under the Policy.

*Transfers Between the Fixed Account and Investment Divisions or an Asset Allocation Model*

Generally, you may transfer amounts from the Fixed Account (if applicable) to the Investment Divisions or an available Asset Allocation Model up to 30 days prior to the Annuity Commencement Date, subject to the following conditions.

&nbsp;&nbsp;&nbsp;&nbsp;1. The maximum amount you are allowed to transfer from the Fixed Account to the Investment Divisions or an available Asset Allocation Model, including Interest Sweep transfers, during any Policy Year while the Surrender Charge Period for the initial premium payment is in effect is 25% of the highest attained Fixed Account Accumulation Value as of the beginning of each Policy Year. When the Surrender Charge Period for the initial premium payment is no longer in effect, the maximum amount that you are allowed to transfer from the Fixed Account to the Investment Divisions or an Asset Allocation Model may not exceed 50% of the highest attained Fixed Account Accumulation Value as of the beginning of each Policy Year, regardless of any new Surrender Charge Periods applicable to additional premium payments. The highest attained Fixed Account Accumulation Value will decrease by the amount of any withdrawals made from the Fixed Account and increase by the amount of any additional premium payments made to the Fixed Account. When the Fixed Account Accumulation Value is zero, all previous Fixed Account Accumulation values are disregarded, and the next Premium Payment to the Fixed Account will then be considered the highest attained Fixed Account Accumulation Value until a subsequent anniversary results in a higher balance.

&nbsp;&nbsp;&nbsp;&nbsp;2. The remaining value in the Fixed Account after a transfer from the Fixed Account to the Investment Divisions or an available Asset Allocation Model must be at least $25. If, after a contemplated transfer, the remaining values in the Fixed Account would be less than $25, that amount must be included in the transfer, unless NYLIAC in its discretion permits otherwise. We determine amounts transferred from the Fixed Account on a first–in, first–out (FIFO) basis, for purposes of determining the rate at which we credit interest on amounts remaining in the Fixed Account.

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

&nbsp;&nbsp;&nbsp;&nbsp;3. For Premium Based M&E Charge policies, transfers are not allowed into the Fixed Account.

&nbsp;&nbsp;&nbsp;&nbsp;4. For Account Value based M&E Charge policies, transfers from the Investment Divisions to the Fixed Account must be at least $500.

For Premium based M&E Charge policies, premium payments transferred from the Fixed Account to the Investment Divisions or an Asset Allocation Model are subject to a Mortality and Expense Risk and Administrative Costs Charge.

Except as part of an existing request relating to the traditional Dollar Cost Averaging or the Interest Sweep option, you may not transfer money into the Fixed Account if you made a transfer out of the Fixed Account during the previous six–month period.

You must make transfer requests in writing in Good Order and send them to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus, by telephone in accordance with established procedures, or through our online service at www.newyorklife.com or the mobile application. Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion.

We will deduct partial withdrawals and apply any surrender charges to the Fixed Account on a FIFO basis (i.e., from any value in the Fixed Account attributable to premium payments or transfers from Investment Divisions or an Asset Allocation Model in the same order in which you allocated such payments or transfers to the Fixed Account during the life of the policy).

**The DCA Advantage Account**

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Like the Fixed Account, the DCA Advantage Account is also held in NYLIAC's general account. The DCA Advantage Account is not registered under the federal securities laws. The information contained in the first paragraph under "THE FIXED ACCOUNT" applies equally to the DCA Advantage Account.

Information regarding the features of the DCA Advantage Account, including (i) its name, (ii) its term, and (iii) its guaranteed minimum interest rate, is available in an appendix to the prospectus. See Appendix 2A: Investment Options Available Under the Policy.

NYLIAC will set interest rates in advance for each date on which we may receive a premium payment to the DCA Advantage Account. We will never declare less than the minimum guaranteed interest rate stated on the Policy Data Page of your policy. The guaranteed minimum interest rate will never be lower than 0.05% and as of the date of this Prospectus, the guaranteed minimum interest rate is 0.05%. If you choose to allocate your initial premium payment to the DCA Advantage Account, the initial premium, and any subsequent premium payments we receive for an initial DCA Advantage Account that is already open, will earn interest at the rate in effect on the date you signed your application. If an additional premium payment is allocated to the DCA Account after the duration of the initial account has expired, the DCA Advantage Account will be re-activated and will earn interest at the rate in effect on the Business Day we receive the premium payment.

Breakpoint Credits will receive the applicable interest rate in effect on the Business Day we receive the premium payment. Interest rates for subsequent premium payments made into the DCA Advantage Account may be different from the rate applied to prior premium payments made into the DCA Advantage Account. The DCA Advantage Account Accumulation Value will never be less than the DCA Advantage Account portion of the Nonforfeiture Value.

The annual effective rate that we declare is credited only to amounts remaining in the DCA Advantage Account. We credit the interest on a daily basis. Because money is periodically transferred out of the DCA Advantage Account, amounts in the DCA Advantage Account will not achieve the declared annual effective rate. Please note that interest credited under the DCA Advantage Account will exceed the actual investment earnings of NYLIAC less appropriate risk and expense adjustments. **Excess interest amounts credited to the DCA Advantage Account will be recovered by fees and charges associated with the Investment Divisions in later Policy Years. The interest credited in later Policy Years may be less than that for the first Policy Year.** 

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**Federal Tax Matters**

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***Introduction***

**The following discussion is general and is not intended as tax advice.** We issue both Qualified and Non-Qualified Policies. Both types of policies offer tax-deferred accumulation. A Non-Qualified Policy can provide for retirement income other than through a tax-qualified plan. Qualified Policies are designed for use by individuals in retirement plans which are intended to qualify as plans qualified for special income tax treatment under Sections 219, 403(b), 408, or 408A of the Code. The ultimate effect of federal income taxes on the Accumulation Value, on Income Payments, and on the economic benefit to you, the Annuitant or the Beneficiary depends on the type of retirement plan for which the Qualified Policy is purchased, on the tax and employment status of the individual concerned and on NYLIAC's tax status. The following discussion assumes that Qualified Policies are used in retirement plans that qualify for the special federal income tax treatment described above. This discussion is not intended to address the tax consequences resulting from all of the situations in which a person may be entitled to or may receive a distribution under a policy. Any person concerned about these tax implications should consult a tax adviser before making a premium payment. This discussion is based upon NYLIAC's understanding of the present federal income tax laws as they are currently interpreted by the Internal Revenue Service. We cannot predict the likelihood of continuation of the present federal income tax laws or of the current interpretations by the Internal Revenue Service, which may change from time to time without notice. Any such change could have retroactive effects regardless of the date of enactment. Moreover, this discussion does not take into consideration any applicable state or other tax laws except with respect to the imposition of any state premium taxes. We suggest you consult with your tax adviser.

***Taxation of Annuities in General***

The following discussion assumes that the policies will qualify as annuity contracts for federal income tax purposes. The Statement of Additional Information discusses such qualifications.

Section 72 of the Code governs taxation of annuities in general. NYLIAC believes that an annuity policyowner generally is not taxed on increases in the value of a policy until distribution occurs either in the form of a lump sum received by withdrawing all or part of the Accumulation Value (i.e., surrenders or partial withdrawals) or as Income Payments under the Income Payment option elected. The exception to this rule is that generally, a policyowner of any deferred annuity policy who is not a natural person must include in income any increase in the excess of the policyowner's Accumulation Value over the policyowner's investment in the contract during the taxable year. However, there are some exceptions to this exception. You may wish to discuss these with your tax advisor. The taxable portion of a distribution (in the form of an annuity or lump sum payment) is generally taxed as ordinary income. For this purpose, the assignment, pledge, or agreement to assign or pledge any portion of the Accumulation Value generally will be treated as a distribution.

In the case of a withdrawal or surrender distributed to a participant or Beneficiary under a Qualified Policy, a ratable portion of the amount received is taxable, generally based on the ratio of the investment in the contract to the total policy value. The "investment in the contract" generally equals the portion, if any, of any premium payments paid by or on behalf of an individual under a policy which is not excluded from the individual's gross income. For policies issued in connection with qualified plans, the "investment in the contract" can be zero. The law requires the use of special simplified methods to determine the taxable amount of payments that are based in whole or in part on the Annuitant's life and that are paid from TSAs.

Generally, in the case of a withdrawal under a Non-Qualified Policy before the Annuity Commencement Date, amounts received are first treated as taxable income to the extent that the Accumulation Value immediately before the withdrawal exceeds the "investment in the contract" at that time. Any additional amount withdrawn is not taxable. On the other hand, upon a full surrender of a Non-Qualified Policy, if the "investment in the contract" exceeds the Accumulation Value (less any surrender charges), the loss is treated as an ordinary loss for federal income tax purposes. However, limitations may apply to the amount of the loss that may be deductible.

Although the tax consequences may vary depending on the Income Payment option elected under the policy, in general, only the portion of the Income Payment that represents the amount by which the Accumulation Value exceeds the "investment in the contract" will be taxed. After the investment in the Policy is recovered, the full amount of any additional Income Payments is taxable. For fixed Income Payments, in general, there is no tax on the portion of each payment which represents the same ratio that the "investment in the contract" bears to the total expected value

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of the Income Payments for the term of the payments. However, the remainder of each Income Payment is taxable until the recovery of the investment in the contract, and thereafter the full amount of each annuity payment is taxable. If death occurs before full recovery of the investment in the contract, the unrecovered amount may be deducted on the Annuitant's final tax return.

A policyowner may elect to apply a portion of the Accumulation Value towards one of the Income Payment options we may offer, while the remainder of the policy continues to accumulate income on a tax-deferred basis. This is called a partial annuitization. If a policyowner chooses to partially annuitize a policy, the resulting payments will be taxed as fixed Income Payments described above, only if such payments are received for one of the following periods: (1) the Annuitant's life (or the lives of the joint Annuitants, if applicable), or (2) a period of 10 years or more. Provided such requirements are met, the "investment in the contract" will be allocated pro rata between each portion of the policy from which amounts are received as an annuity and the portion of the policy from which amounts are not received as an annuity.

In the case of a distribution, a penalty tax equal to 10% of the amount treated as taxable income may be imposed. The penalty tax is not imposed in certain circumstances, including, generally, distributions: (1) made on or after the date on which the policyowner attains age 59½, (2) made as a result of the policyowner's (or, where the policyowner is not an individual, the Annuitant's) death, (3) made as a result of the policyowner's disability, (4) which are part of a series of substantially equal periodic payments (at least annually) made for the life (or life expectancy) of the policyowner or the joint lives (or joint life expectancies) of the policyowner and his or her designated beneficiary, or (5) received from an Inherited IRA. Other tax penalties may apply to certain distributions pursuant to a Qualified Policy. For more details regarding this penalty tax and other exemptions that may be applicable, please consult a tax adviser.

All non-qualified, deferred annuity contracts issued by NYLIAC (or its affiliates) to the same policyowner during any calendar year are to be treated as one annuity contract for purposes of determining the extent to which an amount not received as an annuity is includible in an individual's gross income. In addition, there may be other situations in which the Treasury Department may conclude (under its authority to issue regulations) that it would be appropriate to aggregate two or more annuity contracts purchased by the same policyowner. Accordingly, a policyowner should consult a tax adviser before purchasing more than one policy or other annuity contract.

A transfer of ownership of a policy, or designation of an Annuitant or other Beneficiary who is not also the policyowner, may result in certain income or gift tax consequences to the policyowner. A policyowner contemplating any transfer or assignment of a policy should consult a tax adviser with respect to the potential tax effects of such a transaction.

***3.8 Percent 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., an 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 the policy, distributions or withdrawals from the policy, or the exercise of other rights and features under this annuity contract.

***Partial Section 1035 Exchanges***

Section 1035 of the Code provides that an annuity contract may be exchanged in a tax-free transaction for another annuity contract or a long-term care insurance policy. The IRS has issued guidance which provides that the direct transfer of a portion of an annuity contract into another annuity contract can qualify as a tax-free exchange, provided that no amounts (other than annuity payments made for life or for a term of at least 10 years) are distributed from either contract involved in the exchange for 180 days following the date of the transfer. If a taxpayer takes a distribution during this 180-day waiting period, the IRS guidance provides that the IRS will apply general tax principles

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to determine the tax treatment of the transfer and/or the distribution (e.g., in appropriate circumstances, as taxable "boot" or as a taxable distribution, effectively negating the tax-free exchange).

This IRS guidance, however, does not address the tax treatment of a partial exchange of an annuity contract for a long-term care insurance policy. Although we believe that taking a distribution or withdrawal from the Contract described in this Prospectus within 180 days of a partial exchange of such Contract for a long-term care insurance policy should not cause such prior partial exchange to be treated as taxable, there can be no assurance that the IRS will not expand the 180-day rule described above to partial exchanges of an annuity contract for a long-term care insurance policy, or that the IRS will not provide other guidance with respect to such partial exchanges. **If you contemplate such an exchange, you should consult a tax advisor to discuss the potential tax effects of such a transaction.**

***Qualified Policies***

Qualified Policies are designed for use with retirement plans that qualify for special federal income tax treatment under Sections 219, 403(b), 408, and 408A of the Code. The tax rules applicable to participants and beneficiaries in these plans vary according to the type of plan and the terms and conditions of the plan itself. Special favorable tax treatment may be available for certain types of contributions and distributions (including special rules for certain lump sum distributions to individuals who attained the age of 50 by January 1, 1986). Adverse tax consequences may result from contributions in excess of specified limits, distributions prior to age 59½ (subject to certain exceptions), distributions that do not conform to specified minimum distribution rules and in certain other circumstances. Therefore, this discussion only provides general information about the use of Qualified Policies with the plans described below. Policyowners and participants under these plans, as well as Annuitants and Beneficiaries are cautioned that the rights of any person to any benefits under the plans may be subject to the terms and conditions of the plans themselves, regardless of the terms and conditions of the policy issued in connection with the plan. Purchasers of Qualified Policies should seek legal and tax advice regarding the suitability of the policy.

*(a) 403(b) Plans.*

Under Section 403(b) of the Code, payments made by public school systems and certain tax exempt organizations to purchase annuity policies for their employees are excludible from the gross income of the employee, subject to certain limitations. However, such payments may be subject to FICA (Social Security) taxes.

*Important Information Regarding Final Code Section 403(b) Regulations* 

On July 26, 2007, the Department of the Treasury published final Code section 403(b) regulations that were largely effective on January 1, 2009. These comprehensive regulations include several new rules and requirements, such as a requirement that employers maintain their Code section 403(b) plans pursuant to a written plan. The final regulations, subsequent IRS guidance, and the terms of the written plan and/or the written information sharing agreement between the employer and NYLIAC may impose new restrictions on both new and existing Code section 403(b) TSA contracts, including restrictions on the availability of loans, distributions, transfers and exchanges, regardless of when a contract was purchased.

Prior to the effective date of the final regulations, IRS guidance applicable to tax-free transfers and exchanges of Code section 403(b) TSA contracts or custodial accounts became effective September 25, 2007, replacing existing rules under IRS Revenue Ruling 90-24 previously applicable to such transfers and exchanges (a "90-24 transfer"). Under this guidance, transfers and exchanges (both referred to below as "transfers") are available only to the extent permitted under the employer's written Code section 403(b) plan.

Transfers occurring after September 24, 2007 that do not comply with this guidance can result in the applicable contract becoming taxable on January 1, 2009, or the date of the transfer, whichever is later. If you make a transfer to a contract or custodial account that is not part of the employer's Code section 403(b) plan (other than a transfer to a different plan), and the contract provider and employer fail to enter into an information sharing agreement by January 1, 2009, the transfer would be considered a "failed" transfer, resulting in the applicable contract becoming subject to tax.

In general, certain contracts originally established by a 90-24 transfer prior to September 25, 2007, are exempt (or grandfathered) from some of the requirements of the final regulations; provided that no salary reduction or other

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contributions have ever been made to such contracts, and that no additional transfers are made to such contracts on or after September 25, 2007. Further, contracts that are not grandfathered are generally required to be part of, and subject to the requirements of, an employer's written Code section 403(b) plan no later than by January 1, 2009.

The new rules in the final regulations generally do not affect a participant's ability to transfer some or all of a Code section 403(b) TSA contract to a state-defined benefit plan to purchase service credits, where such a transfer is otherwise consistent with applicable rules and requirements and with the terms of the employer's plan.

You should discuss with your tax advisor the final Code section 403(b) regulations and other applicable IRS guidance in order to determine the impact they may have on any existing Code section 403(b) TSA contracts that you may own and/or on any Code section 403(b) TSA contract that you may consider purchasing.

*(b) Individual Retirement Annuities.*

Sections 219 and 408 of the Code permit individuals or their employers to contribute to an individual retirement program known as an "Individual Retirement Annuity" or "IRA," including an employer-sponsored Simplified Employee Pension or "SEP." Individual Retirement Annuities are subject to limitations on the amount which may be contributed and deducted and the time when distributions may commence. In addition, distributions from certain other types of qualified plans may be placed into IRAs on a tax-deferred basis.

*(c) Roth Individual Retirement Annuities.*

Section 408A of the Code permits individuals with incomes below a certain level to contribute to an individual retirement program known as a "Roth Individual Retirement Annuity" or "Roth IRA." Roth IRAs are subject to limitations on the amount that may be contributed. Contributions to Roth IRAs are not deductible, but distributions from Roth IRAs that meet certain requirements are not included in gross income. Individuals generally may convert their existing non-Roth IRAs into Roth IRAs. A direct rollover may also be made from an eligible retirement plan other than a non-Roth IRA (such as a qualified retirement plan, section 403(b) tax sheltered annuity, or eligible governmental section 457 plan) to a Roth IRA provided applicable requirements are met. Such conversions and rollovers will be subject to income tax at the time of conversion or rollover.

*(d) Inherited IRAs.*

This policy may also be issued as an inherited IRA if, after the death of the owner of an IRA, the named Beneficiary directs that the IRA death proceeds be transferred to a new policy issued as an Inherited IRA. Beginning in 2007, a non-spouse beneficiary of an eligible retirement plan (such as a qualified retirement plan, section 403(b) tax sheltered annuity, or eligible governmental section 457 plan) may, if all applicable requirements are met, directly rollover a distribution from such plan into an Inherited IRA. The named Beneficiary of the original IRA policy or eligible retirement plan (as the case may be) will become the Annuitant under the Inherited IRA and may generally exercise all rights under the Inherited IRA policy, including the right to name his or her own Beneficiary in the event of death.

Special tax rules apply to an Inherited IRA. The tax law does not permit additional premiums to be contributed to an Inherited IRA policy. Also, in order to avoid certain income tax penalties, a Required Minimum Distribution ("RMD") generally must be withdrawn each year from an inherited IRA policy. The first RMD generally must be taken on or before December 31 of the calendar year following the year of the original IRA owner's or eligible retirement plan participants' death. As of January 1, 2023, the penalty tax equals 25% of the excess of the RMD amount over the amounts, if any, actually withdrawn from the Inherited IRA during the calendar year. If a failure to take an RMD is corrected in a timely manner, as prescribed under the Code, the excise tax is reduced to 10%. With respect to IRA owners and defined contribution plan participants who die on or after January 1, 2020, any individual policyowner who is not an "Eligible Designated Beneficiary" must withdraw the entire account value by the end of the tenth year following the year of death (if the original IRA owner or plan participant died before required minimum distributions were required to begin, an individual policyowner who is not an Eligible Designated Beneficiary is not required to withdraw any amount until the end of the tenth year following the year of death, at which time the entire account value must be withdrawn). Eligible Designated Beneficiaries may withdraw the account value over their lives or a period not exceeding their life expectancies. Eligible Designated Beneficiaries include spouses, minor children (until they reach age 21), someone who is disabled or chronically ill (including certain trusts for the disabled or chronically ill), or an individual not more than 10 years younger than the original IRA owner or plan participant.

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

*(e) SIMPLE IRAs.*

SIMPLE IRAs permit certain small employers to establish SIMPLE IRA plans as provided by Section 408(p) of the Code, under which employees may elect to defer to a Simple IRA a percentage of compensation up to a certain amount (which is adjusted each year for cost-of-living increases in accordance with the Code). Employees who attain age 50 or over by the end of the relevant calendar year may also elect to make an additional catch-up contribution up to a certain amount (which is adjusted each year for cost-of-living increases in accordance with the Code). The sponsoring employer is generally required to make matching or non-elective contributions on behalf of employees. Distributions from SIMPLE IRAs are subject to the same restrictions that apply to IRA distributions and are taxed as ordinary income. Subject to certain exceptions, distributions prior to age 59½ are subject to a 10% penalty tax, which is increased to 25% if the distribution occurs within the first two years after the commencement of the employee's participation in the SIMPLE IRA plan. All references in this Prospectus to the 10% penalty tax should be read to include this limited 25% penalty tax if your Qualified Policy is used as a SIMPLE IRA.

The Qualified Policies (other than Roth IRAs during the owner's life) are subject to the RMD rules under Code section 401(a)(9) and the regulations issued thereunder. Under these rules, generally, distributions under your Qualified Policy must begin no later than the beginning date required by the Internal Revenue Service ("IRS"). The beginning date is determined by the type of Qualified Policy that you own. As of January 1, 2023, for each calendar year that an RMD is not timely made, a 25% excise tax is imposed on the amount that should have been distributed, but was not. If a failure to take an RMD is corrected in a timely manner, as prescribed under the Code, the excise tax is reduced to 10%.

Unless the distributions are made in the form of an annuity that complies with Code section 401(a)(9) and the regulations issued thereunder, the minimum amount required to be distributed for each calendar year is generally determined by dividing the value of the Qualified Policy as of the end of the prior calendar year by the applicable distribution period (determined under IRS tables).

Beginning in 2006, regulations under Code section 401(a)(9) provide a new method for calculating the amount of RMDs from Qualified Policies. Under these regulations, during the accumulation phase of the Qualified Policy, the actuarial present value of certain additional benefits provided under the policy (such as guaranteed death benefits) must be taken into account in calculating the value of the Qualified Policy for purposes of determining the annual RMD for the Qualified Policy. As a result, under these regulations, it is possible that, after taking account of the value of such benefits, there may not be sufficient Accumulation Value to satisfy the applicable RMD requirement. This generally will depend on the investment performance of your policy. You may need to satisfy such RMD from other tax-qualified plans that you own. You should consult with your tax advisor regarding these requirements and the implications of purchasing any riders or other benefits in connection with your Qualified Policy.

Effective as of December 29, 2022, if distributions from your IRA are made in the form of an annuity, and the annuity payments in a year exceed the amount that would be required to be distributed for the year under the rules for non-annuitized accounts (determined by treating the IRA's account balance as including the value of the annuity), the excess can be counted towards satisfying the required minimum distribution with respect to any non-annuitized account balance in your IRA(s). You should consult your tax advisor if you want to use this special rule.

***Taxation of Death Benefits***

The tax treatment of amounts distributed from your contract upon the death of the policyowner or Annuitant depends on whether the policyowner or Annuitant dies before or after the Annuity Commencement Date. If death occurs prior to the Annuity Commencement Date, and the Beneficiary receives payments under an annuity payout option, the benefits are generally taxed in the manner described above for annuity payouts. If the benefits are received in a lump sum, they are taxed to the extent they exceed the remaining investment in the contract. If death occurs after the Annuity Commencement Date, amounts received by the Beneficiary are not taxed until they exceed the remaining investment in the contract.

**Distribution and Compensation Arrangements**

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NYLIFE Distributors LLC ("NYLIFE Distributors"), the underwriter and distributor of the policies, is registered with the SEC and the Financial Industry Regulatory Authority, Inc. (FINRA) as a broker-dealer. The firm is an indirect

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wholly-owned subsidiary of New York Life, 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, LLC ("NYLIFE Securities"), a broker-dealer that is an affiliate of NYLIFE Distributors. Your registered representative is also a licensed insurance agent with NYLIAC. 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 New York Life or its affiliates and products provided by other companies.

NYLIFE Securities and in turn your registered representative, 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 will vary depending on the policy, the age of the Owner and whether the source of funds is from an internal exchange. Differing compensation arrangements have the potential to influence the recommendation made by your registered representative or broker-dealer.

The maximum commission and expense allowance paid to NYLIFE Securities registered representatives is typically 5% of all premiums received.

The total commissions paid for New York Life Premier Variable Annuity policies during the fiscal years ended December 31, 2025, 2024, and 2023 were $966,242, $1,133,865, and $1,264,210, respectively.

NYLIFE Distributors did not retain any of these commissions. The policies are sold and premium payments are accepted on a continuous basis.

New York Life also has other compensation programs where managers and employees involved in the sales process receive additional compensation related to the sale of products manufactured and issued by New York Life or its affiliates.

NYLIFE Securities registered representatives can qualify to attend New York Life-sponsored educational, training, and development conferences based on the sales they make of life insurance, annuities, and investment products during a particular twelve-month period. In addition, qualification for recognition programs sponsored by New York Life depends on the sale of products manufactured and issued by New York Life or its affiliates.

**Additional Information about Risks**

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***Information System Failures and Cybersecurity Risks***

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 online service at www.newyorklife.com or 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/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 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. Despite these controls and plans, systems failures and cyber-attacks/ransomware affecting New York Life and any of its 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 Accumulation Value. For instance, system failures and cyber-attacks/ransomware may (i) interfere with our processing of policy transactions (including surrenders, withdrawals, loans, and transfers) and the processing of orders from www.newyorklife.com or the mobile application, or with the underlying funds or cause other operations issues; (ii) impact our ability to calculate Accumulation Unit Values and your policy's Accumulation Values; (iii) cause the release, loss, and/or possible destruction of confidential customer and/or business information; (iv) subject us and/or our service providers, business partners, and intermediaries to regulatory fines, litigation, and financial losses, and/or cause us reputational damage. System failures and cybersecurity breaches may also impact the issuers of securities in which the

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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/ransomware.

***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 Accumulation 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 surrenders, withdrawals, loans, and transfers) and the processing of orders from online service requests at www.newyorklife.com or 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's Accumulation 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 services 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.

**Legal Proceedings**

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NYLIAC is a defendant in lawsuits arising from its agency sales force, insurance (including variable contracts registered under the federal securities laws) and/or other operations. Some of these actions seek substantial or unspecified compensatory and punitive damages. NYLIAC is 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 the Separate Accounts, the ability of NYLIFE Distributors to perform its contract with the Separate Accounts, NYLIAC's financial position, or the ability of NYLIAC to meet its obligations under the Contracts; 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.

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**Voting Rights**

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The Portfolios are not required to and typically do not hold routine annual stockholder meetings. Special stockholder meetings will be called when necessary. Based on our current interpretation of applicable law, NYLIAC will vote the Portfolio shares held in the Investment Divisions at special shareholder meetings of the Portfolios in accordance with instructions we receive from persons having voting interests in the corresponding Investment Division. If, however, the federal securities laws are amended, or if NYLIAC's present interpretation should change, and as a result, NYLIAC determines that it is allowed to vote the Portfolio shares in its own right, we may elect 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 Portfolio. In addition, we may disregard voting instructions that would require changes in the investment policy or investment adviser of one or more of the Portfolios 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.

Prior to the Annuity Commencement Date, you hold a voting interest in each Investment Division to which you have money allocated. We will determine the number of votes which are available to you by dividing the Accumulation Value attributable to an Investment Division by the net asset value per share of the applicable Portfolios. We will calculate the number of votes which are available to you separately for each Investment Division. We will determine that number by applying your percentage interest, if any, in a particular Investment Division to the total number of votes attributable to the Investment Division.

We will determine the number of votes of the Portfolio which are available as of the date established by the Portfolio of the relevant Fund. Voting instructions will be solicited by written or electronic communication prior to such meeting in accordance with procedures established by the relevant Fund.

If we do not receive timely instructions, we will vote those shares in proportion to the voting instructions which are received with respect to all policies participating in that Investment Division. Any shares owned by NYLIAC and its affiliates will also be voted proportionately in accordance with those instructions. As a result, a small number of policyowners may control the outcome of the vote. Each person having a voting interest in an Investment Division will receive proxy material, reports and other materials relating to the appropriate Portfolio.

**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 each of the Investment Divisions of each Separate Account's statement 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.

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**Appendix 1** 

**INFORMATION REGARDING SINGLE PREMIUM POLICIES**

**Prospectus Dated May 1, 2025** 

NYLIAC offers an individual single premium version of the New York Life Premier Variable Annuity policy in Mississippi and Washington. This APPENDIX modifies the May 1, 2025 Prospectus for the policies that describe the single premium version of the policies.

All capitalized terms have the same meaning as those in the Prospectus.

The principal differences between the single premium version and the flexible premium version of the policies is that under the single premium policies you can make only one premium payment.

Accordingly, for single premium policies, the prospectus is amended in the following respects:

***I. SINGLE PREMIUM ONLY*** 

When reading this APPENDIX together with the Prospectus, keep in mind that only one premium payment was permitted under the single premium policies and only one Breakpoint Credit (if applicable) was applied to such premium payment. Exceptions to this rule apply only in cases where part of your purchase payment is funded from another source, such as 1035 exchange, rollover, or transfer from an institution. In such cases, we may receive parts of your purchase payment on different business days.

Accordingly, except in the circumstances described above, all references throughout the prospectus to premium payments in the plural (and any Breakpoint Credit(s) thereon) should be read to mean the singular. Further, references to allocations of premium payments (and any Breakpoint Credit(s) thereon) should be read to mean an allocation of the premium or any portion thereof (and any Breakpoint Credit(s) thereon). Naturally, any features or services that relate to multiple premium payments are not applicable to the single premium policy.

Replace all references to "Payment Year" throughout the Prospectus with "Policy Year," and delete the definition of "Payment Year."

***II. MAINTENANCE OF POLICY VALUE*** 

Replace the paragraph under "DISTRIBUTIONS UNDER THE POLICY—Our Right to Cancel" with the following:

If a partial withdrawal, together with any surrender charges, would reduce the Accumulation Value of your policy such that it would provide for Income Payments of less than $20 per month on the Annuity Commencement Date, we reserve the right to terminate your policy. We will notify you of our intention to exercise this right 90 days prior to terminating your policy. If we terminate your policy, we will pay you the Accumulation Value of your policy in one lump sum.

Appendix 1-1

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**Appendix 2A**

***Investment Options Available Under the Policy***

The following is a list of Portfolios available under the policy, which is subject to change, as discussed in the prospectus. Depending on the optional benefits you choose, you may not be able to invest in certain Portfolios. You can find the prospectuses and other information about the Portfolios online at https://dfinview.com/NewYorkLife/TAHD/premier. You can also request this information at no cost by calling the VPSC at 1-800-598-2019 or by sending an email request with your name and mailing address to PremierProspectus@newyorklife.com.

The current expenses and performance information below reflects fees and expenses of the Portfolios but does not reflect the other fees and expenses that your policy may charge. Expenses would be higher and performance would be lower if these charges were included. Each Portfolio's past performance is not necessarily an indication of future performance.

If you purchased an investment protection rider, you may not be able to invest in certain Portfolios. If you have purchased the Investment Protection Plan (IPP) after February 15, 2010 or Investment Protection Plan II (IPP II), your available allocation options are listed in APPENDIX 2B below. If you have purchased the Guaranteed Investment Protection Rider (GIPR) or Guaranteed Investment Protection Rider 2.0 (GIPR 2.0), your available allocation options are listed in APPENDIX 2C below.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Large Cap Equity | NYLIM VP American Century Large Cap Equity <br> (formerly NYLI VP American Century <br> Sustainable Equity) — Service Class<br>*Adviser: New York Life Investment Management* <br> *LLC ("New York Life Investments") /*<br> *Subadviser: American Century Investment* <br> *Management, Inc.*<br>| 0.93% | 11.06% | 13.68% | 11.58% |
| Asset Allocation | NYLIM VP Balanced (formerly NYLI VP <br> Balanced) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadvisers: NYL Investors LLC ("NYL* <br> *Investors") and Wellington Management* <br> *Company LLP ("Wellington")*<br>| 0.97% | 11.16% | 7.14% | 7.04% |
| Investment<br> Grade Bond<br>| NYLIM VP Bond (formerly NYLI VP Bond) — <br> Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: NYL Investors*<br>| 0.80% | 6.57% | (0.88)% | 1.71% |
| International/Global<br> Equity<br>| NYLIM VP Candriam Emerging Markets Equity <br> (formerly NYLI VP Candriam Emerging Markets <br> Equity) — Service Class<sup>+</sup> <br>*Adviser: New York Life Investments /* <br> *Subadviser: Candriam*<br>| 1.45% | 35.54% | 2.52% | 7.39%  |

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Appendix 2A-1

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Sector | NYLIM VP CBRE Global Infrastructure (formerly <br> NYLI VP CBRE Global Infrastructure) — Service <br> Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: CBRE Investment Management* <br> *Listed Real Assets LLC*<br>| 1.20% | 15.31% | 6.79% | 2.39% |
| Asset Allocation | NYLIM VP Conservative Allocation (formerly <br> NYLI VP Conservative Allocation) — Service <br> Class<br>*Adviser: New York Life Investments*<br>| 0.80% | 9.29% | 3.67% | 5.14% |
| Large Cap Equity | NYLIM VP Dimensional U.S. Equity (formerly <br> NYLI VP Dimensional U.S. Equity) — Service <br> Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Dimensional Fund Advisors LP*<br>| 0.79% | 13.46% | 12.11% | 12.40% |
| Large Cap Equity | NYLIM VP Epoch U.S. Equity Yield (formerly <br> NYLI VP Epoch U.S. Equity Yield) — Service <br> Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Epoch Investment Partners, Inc.* <br> *("Epoch")*<br>| 0.93% | 13.96% | 11.74% | 9.69% |
| Asset Allocation | NYLIM VP Equity Allocation (formerly NYLI VP <br> Equity Allocation) — Service Class<br>*Adviser: New York Life Investments*<br>| 0.94% | 13.69% | 7.90% | 9.07% |
| Sector | NYLIM VP Fidelity Institutional AM<sup>®</sup> Utilities <br> (formerly NYLI VP Fidelity Institutional AM<sup>®</sup> <br> Utilities) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: FIAM LLC ("FIAM")*<br>| 0.93% | 13.50% | 12.06% | 10.69% |
| Non-Investment<br> Grade Bond<br>| NYLIM VP Floating Rate (formerly NYLI VP <br> Floating Rate) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: NYL Investors*<br>| 0.89% | 4.86% | 5.16% | 4.74% |
| Asset Allocation | NYLIM VP Growth Allocation (formerly NYLI VP <br> Growth Allocation) — Service Class<br>*Adviser: New York Life Investments*<br>| 0.89% | 12.24% | 7.06% | 8.05% |
| Alternatives | NYLIM VP Hedge Multi-Strategy (formerly NYLI <br> VP Hedge Multi-Strategy) — Service Class<br>*Adviser: New York Life Investments*<br>| 1.26% | 7.78% | 2.67% | 1.81%  |

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Appendix 2A-2

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Asset Allocation | NYLIM VP Income Builder (formerly NYLI VP <br> Income Builder) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadvisers: Epoch and MacKay Shields LLC* <br> *("MacKay")*<br>| 0.88% | 16.70% | 6.29% | 7.13% |
| Asset Allocation | NYLIM VP Janus Henderson Balanced (formerly <br> NYLI VP Janus Henderson Balanced) — <br> Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Janus Henderson Investors US LLC* <br> *("Janus Henderson")*<br>| 0.83% | 14.76% | 8.30% | 9.91% |
| Non-Investment<br> Grade Bond<br>| NYLIM VP MacKay Convertible (formerly NYLI <br> VP MacKay Convertible) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MacKay*<br>| 0.84% | 16.11% | 5.34% | 10.10% |
| Non-Investment<br> Grade Bond<br>| NYLIM VP MacKay High Yield Corporate Bond <br> (formerly NYLI VP MacKay High Yield Corporate <br> Bond) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MacKay*<br>| 0.84% | 6.60% | 4.18% | 5.87% |
| Non-Investment<br> Grade Bond<br>| NYLIM VP MacKay Strategic Bond (formerly <br> NYLI VP MacKay Strategic Bond) — Service <br> Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MacKay*<br>| 0.90% | 8.60% | 3.73% | 4.14% |
| Investment<br> Grade Bond<br>| NYLIM VP MacKay U.S. Infrastructure Bond <br> (formerly NYLI VP MacKay U.S. Infrastructure <br> Bond) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MacKay*<br>| 0.82% | 8.17% | (0.15)% | 1.13% |
| Large Cap Equity | NYLIM VP MFS<sup>®</sup> Investors Trust (formerly NYLI <br> VP MFS<sup>®</sup> Investors Trust) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Massachusetts Financial Services* <br> *Company ("MFS")*<br>| 1.00% | N/A | N/A | N/A |
| Large Cap Equity | NYLIM VP MFS<sup>®</sup> Research (formerly NYLI VP <br> MFS<sup>®</sup> Research) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MFS*<br>| 1.01% | N/A | N/A | N/A  |

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Appendix 2A-3

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Asset Allocation | NYLIM VP Moderate Allocation (formerly NYLI <br> VP Moderate Allocation) — Service Class<br>*Adviser: New York Life Investments*<br>| 0.83% | 11.02% | 5.36% | 6.61% |
| Sector | NYLIM VP Natural Resources (formerly NYLI VP <br> Natural Resources) — Initial Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Newton Investment Management* <br> *North America, LLC ("NIMNA")*<br>| 0.85% | 15.20% | 17.27% | 10.88% |
| Sector | NYLIM VP Newton Technology Growth (formerly <br> NYLI VP Newton Technology Growth) — <br> Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: NIMNA*<br>| 1.03% | N/A | N/A | N/A |
| Investment<br> Grade Bond<br>| NYLIM VP PIMCO Real Return (formerly NYLI <br> VP PIMCO Real Return) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Pacific Investment Management* <br> *Company LLC ("PIMCO")*<br>| 1.34% | 7.89% | 1.11% | 3.03% |
| International/Global<br> Equity<br>| NYLIM VP PineStone International Equity <br> (formerly NYLI VP PineStone International <br> Equity) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: PineStone Asset Management Inc.*<br>| 1.11% | 12.01% | (0.05)% | 5.18% |
| Large Cap Equity | NYLIM VP S&P 500 Index (formerly NYLI VP <br> S&P 500 Index) — Service Class<br>*Adviser: New York Life Investments*<br>| 0.37% | 17.43% | 14.00% | 14.34% |
| Small/Mid Cap<br> Equity<br>| NYLIM VP Schroders Mid Cap Opportunities <br> (formerly NYLI VP Schroders Mid Cap <br> Opportunities) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Schroder Investment Management* <br> *North America Inc.*<br>| 1.08% | 7.00% | 4.79% | 7.12% |
| Small/Mid Cap<br> Equity<br>| NYLIM VP Small Cap Growth (formerly NYLI VP <br> Small Cap Growth) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadvisers: Brown Advisory, LLC and Segall* <br> *Bryant & Hamill, LLC*<br>| 1.11% | 4.63% | 1.38% | 8.68%  |

---

Appendix 2A-4

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Money Market | NYLIM VP U.S. Government Money Market <br> (formerly NYLI VP U.S. Government Money <br> Market) — Initial Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: NYL Investors*<br>| 0.28% | 4.05% | 3.02% | 1.89% |
| Large Cap Equity | NYLIM VP Wellington Growth (formerly NYLI VP <br> Wellington Growth) — Service Class<sup>+</sup> <br>*Adviser: New York Life Investments /* <br> *Subadviser: Wellington*<br>| 0.98% | 16.77% | 10.10% | 13.17% |
| Small/Mid Cap<br> Equity<br>| NYLIM VP Wellington Small Cap (formerly NYLI <br> VP Wellington Small Cap) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Wellington*<br>| 1.00% | 9.26% | 5.66% | 7.15% |
| Large Cap Equity | NYLIM VP Winslow Large Cap Growth (formerly <br> NYLI VP Winslow Large Cap Growth) — Service <br> Class<br>*Adviser: New York Life Investments*<br> */ Subadviser: Winslow Capital Management,* <br> *LLC*<br>| 1.00% | 14.07% | 12.41% | 15.85% |
| Large Cap Equity | AB VPS Relative Value Portfolio — Class B<br>*Adviser: AllianceBernstein L.P.*<br>| 0.84% | 10.20% | 11.15% | 10.30% |
| Asset Allocation | American Funds<sup>®</sup> IS Asset Allocation Fund — <br> Class 4<br>*Adviser: Capital Research and Management* <br> *Company*<sup>SM</sup> *("CRMC")*<br>| 0.79% | 15.59% | 8.70% | 9.50% |
| Investment Grade <br> Bond<br>| American Funds<sup>®</sup> IS The Bond Fund of <br> America<sup>®</sup> — Class 4<br>*Adviser: CRMC*<br>| 0.72% | 6.98% | (0.38)% | 2.11% |
| Investment<br> Grade Bond<br>| American Funds<sup>®</sup> IS Capital World Bond Fund<sup>®</sup> <br> — Class 4<br>*Adviser: CRMC*<br>| 0.98% | 9.03% | (2.76)% | 0.97% |
| Large Cap Equity | American Funds<sup>®</sup> IS Growth Fund — Class 4<br>*Adviser: CRMC*<br>| 0.83% | 19.93% | 13.09% | 17.67% |
| Large Cap Equity | American Funds<sup>®</sup> IS Growth-Income Fund — <br> Class 4<br>*Adviser: CRMC*<br>| 0.78% | 17.77% | 13.62% | 13.63%  |

---

Appendix 2A-5

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| International/Global<br> Equity<br>| American Funds<sup>®</sup> IS New World Fund<sup>®</sup> — Class <br> 4<br>*Adviser: CRMC*<br>| 1.07% | 27.92% | 5.06% | 8.98% |
| International/Global<br> Equity<br>| American Funds<sup>®</sup> IS SMALLCAP World Fund<sup>®</sup> <br> (formerly American Funds<sup>®</sup> IS Global Small <br> Capitalization Fund) — Class 4<br>*Adviser: CRMC*<br>| 1.15% | 14.33% | 0.23% | 6.96% |
| Investment<br> Grade Bond<br>| American Funds<sup>®</sup> IS U.S. Government Securities <br> Fund<sup>®</sup> — Class 4<br>*Adviser: CRMC*<br>| 0.75% | 7.54% | (0.49)% | 1.45% |
| Large Cap Equity | American Funds<sup>®</sup> IS Washington Mutual <br> Investors Fund — Class 4<br>*Adviser: CRMC*<br>| 0.75% | 16.90% | 13.60% | 12.08% |
| Asset Allocation | BlackRock<sup>®</sup> Global Allocation V.I. Fund — Class <br> III<br>*Adviser: BlackRock Advisors, LLC ("BlackRock")* <br> */ Subadvisers: BlackRock (Singapore) Limited* <br> *and BlackRock International Limited*<br>| 1.01% | 19.42% | 5.51% | 7.33% |
| Non-Investment<br> Grade Bond<br>| BlackRock<sup>®</sup> High Yield V.I. Fund — Class III<br>*Adviser: BlackRock / Subadviser: BlackRock* <br> *International Limited*<br>| 0.78% | 9.09% | 4.57% | 6.07% |
| Large Cap Equity | BNY Mellon Sustainable U.S. Equity Portfolio — <br> Service Shares<br>*Adviser: BNY Mellon Investment Adviser, Inc. /* <br> *Subadviser: Newton Investment Management* <br> *Limited*<br>| 0.91% | 15.67% | 11.65% | 13.27% |
| Sector | Columbia Variable Portfolio — Commodity <br> Strategy Fund — Class 2<sup>++</sup> <br>*Adviser: Columbia Management Investment* <br> *Advisers, LLC ("Columbia") / Subadviser:* <br> *Threadneedle International Limited*<br>| 1.00% | 15.30% | 12.44% | 6.46% |
| Non-Investment<br> Grade Bond<br>| Columbia Variable Portfolio — Emerging <br> Markets Bond Fund — Class 2<br>*Adviser: Columbia*<br>| 1.00% | 12.65% | 1.47% | 4.03% |
| Investment Grade <br> Bond<br>| Columbia Variable Portfolio — Intermediate <br> Bond Fund — Class 2<br>*Adviser: Columbia*<br>| 0.77% | 8.84% | (0.68)% | 2.52%  |

---

Appendix 2A-6

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Small/Mid Cap<br> Equity<br>| Columbia Variable Portfolio — Small Cap Value <br> Discovery Fund (formerly Columbia Variable <br> Portfolio — Small Cap Value Fund) — Class 2<br>*Adviser: Columbia*<br>| 1.13% | 14.66% | 12.19% | 11.20% |
| Small/Mid Cap <br> Equity<br>| Columbia Variable Portfolio — Small Company <br> Growth Fund — Class 2<br>*Adviser: Columbia*<br>| 1.12% | 21.69% | 3.32% | 14.89% |
| Alternatives | DWS Alternative Asset Allocation VIP — Class <br> B<br>*Adviser: DWS Investment Management* <br> *Americas Inc. / Subadviser: RREEF America* <br> *LLC*<br>| 1.31% | 10.03% | 4.88% | 4.52% |
| Investment<br> Grade Bond<br>| Fidelity<sup>®</sup> VIP Bond Index Portfolio — Service <br> Class 2<br>*Adviser: Fidelity Management & Research* <br> *Company LLC ("FMR") / Subadvisers: Other* <br> *investment advisers*<br>| 0.39% | 6.76% | (0.81)% | N/A |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Contrafund<sup>SM</sup> Portfolio — Service <br> Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.79% | 21.24% | 15.08% | 15.49% |
| International/Global<br> Equity<br>| Fidelity<sup>®</sup> VIP Emerging Markets Portfolio — <br> Service Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 1.12% | 40.79% | 5.62% | 10.66% |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> — <br> Service Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.71% | 18.75% | 12.13% | 11.32% |
| Small/Mid Cap<br> Equity<br>| Fidelity<sup>®</sup> VIP Extended Market Index Portfolio — <br> Service Class 2<br>*Adviser: FMR / Subadviser: Geode Capital* <br> *Management, LLC ("Geode")*<br>| 0.37% | 12.03% | 7.75% | N/A |
| Asset Allocation | Fidelity<sup>®</sup> VIP FundsManager<sup>®</sup> 60% Portfolio — <br> Service Class<br>*Adviser: FMR*<br>| 0.63% | 15.71% | 6.67% | 8.19%  |

---

Appendix 2A-7

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Growth Opportunities Portfolio — <br> Service Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.81% | 21.73% | 11.04% | 19.64% |
| Sector | Fidelity<sup>®</sup> VIP Health Care Portfolio — Service <br> Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.84% | 14.10% | 3.92% | N/A |
| International/Global <br> Equity<br>| Fidelity<sup>®</sup> VIP International Capital Appreciation <br> Portfolio — Service Class 2<br>*Adviser: FMR / Subadvisers: FIL Investment* <br> *Advisors*<br>| 1.02% | 18.36% | 5.99% | 9.53% |
| International/Global<br> Equity<br>| Fidelity<sup>®</sup> VIP International Index Portfolio — <br> Service Class 2<br>*Adviser: FMR / Subadviser: Geode*<br>| 0.41% | 32.82% | 7.76% | N/A |
| Investment Grade <br> Bond<br>| Fidelity<sup>®</sup> VIP Investment Grade Bond <br> Portfolio — Service Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.62% | 6.93% | (0.21)% | 2.45% |
| Small/Mid Cap<br> Equity<br>| Fidelity<sup>®</sup> VIP Mid Cap Portfolio — Service Class <br> 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.80% | 11.49% | 9.83% | 10.31% |
| Sector | Franklin Gold and Precious Metals VIP Fund — <br> Class 2<br>*Adviser: Franklin Advisers, Inc. ("Franklin* <br> *Advisers")*<br>| 0.95% | N/A | N/A | N/A |
| Asset Allocation | Franklin Templeton Aggressive Model <br> Portfolio — Class II<br>*Adviser: Franklin Templeton Fund Adviser, LLC* <br> *("FTFA") / Subadviser: Franklin Advisers*<br>| 0.88% | 17.04% | 10.14% | N/A |
| Asset Allocation | Franklin Templeton Moderately Aggressive <br> Model Portfolio — Class II<br>*Adviser: FTFA / Subadviser: Franklin Advisers*<br>| 0.82% | 15.01% | 7.87% | N/A |
| Asset Allocation | Franklin Templeton Moderate Model Portfolio — <br> Class II<br>*Adviser: FTFA / Subadviser: Franklin Advisers*<br>| 0.82% | 13.18% | 6.49% | N/A  |

---

Appendix 2A-8

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Asset Allocation | Franklin Templeton Moderately Conservative <br> Model Portfolio — Class II<br>*Adviser: FTFA / Subadviser: Franklin Advisers*<br>| 0.82% | 11.51% | 4.91% | N/A |
| Asset Allocation | Franklin Templeton Conservative Model <br> Portfolio — Class II<br>*Adviser: FTFA / Subadviser: Franklin Advisers*<br>| 0.85% | 9.04% | 2.65% | N/A |
| International/Global <br> Equity<br>| Goldman Sachs VIT International Equity Insights <br> Fund — Service Class<br>*Adviser: Goldman Sachs Asset Management,* <br> *L.P.*<br>| 1.05% | 5.80% | 5.19% | 4.61% |
| International/Global<br> Equity<br>| Invesco V.I. EQV International Equity Fund — <br> Series II Shares<br>*Adviser: Invesco Advisers, Inc. ("Invesco")*<br>| 1.15% | 16.23% | 3.42% | 5.95% |
| Small/Mid Cap<br> Equity<br>| Invesco V.I. Main Street Small Cap Fund<sup>®</sup> — <br> Series II Shares<br>*Adviser: Invesco*<br>| 1.09% | 8.44% | 8.07% | 10.31% |
| Small/Mid Cap<br> Equity<br>| Janus Henderson Enterprise Portfolio — Service <br> Shares<br>*Adviser: Janus Henderson*<br>| 0.97% | 7.41% | 7.35% | 12.51% |
| International/Global<br> Equity<br>| Janus Henderson Global Research Portfolio — <br> Service Shares<br>*Adviser: Janus Henderson*<br>| 1.07% | 20.60% | 12.23% | 12.64% |
| Investment Grade <br> Bond<br>| Lord Abbett Series Fund, Inc. — Short Duration <br> Income Portfolio — Class VC<br>*Adviser: Lord, Abbett & Co. LLC*<br>| 0.72% | 5.90% | 2.25% | 2.62% |
| Large Cap Equity | LVIP ClearBridge Appreciation Fund (formerly <br> ClearBridge Variable Appreciation Portfolio) — <br> Service Class<br>*Adviser: Lincoln Financial Investments* <br> *Corporation / Subadviser: ClearBridge* <br> *Investments, LLC*<br>| 0.95% | 14.19% | 12.44% | 13.05% |
| International Equity | MFS<sup>®</sup> International Intrinsic Equity Portfolio <br> (formerly MFS<sup>®</sup> International Intrinsic Value <br> Portfolio) — Service Class<br>*Adviser: MFS*<br>| 1.14% | 32.96% | 7.02% | 9.68%  |

---

Appendix 2A-9

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Mid Cap<br> Equity<br>| MFS<sup>®</sup> Mid Cap Value Portfolio — Service Class<br>*Adviser: MFS*<br>| 1.04% | 5.75% | 9.90% | 9.69% |
| International/Global<br> Equity<br>| MFS<sup>®</sup> Research International Portfolio — <br> Service Class<br>*Adviser: MFS*<br>| 1.15% | 21.75% | 5.25% | 7.27% |
| Small/Mid Cap<br> Equity<br>| Neuberger Berman AMT Mid Cap Growth <br> Portfolio — Class S<br>*Adviser: Neuberger Berman Investment* <br> *Advisers LLC*<br>| 1.11% | 5.23% | 4.27% | 10.71% |
| Small/Mid Cap <br> Equity<br>| Nomura VIP Small Cap Value Series (formerly <br> Macquarie VIP Small Cap Value Series) — <br> Service Class<br>*Adviser: Delaware Management Company, a* <br> *series of Nomura Investment Management* <br> *Business Trust*<br>| 1.04% | 7.83% | 8.93% | 8.84% |
| Investment<br> Grade Bond<br>| PIMCO VIT Income Portfolio — Advisor Class<br>*Adviser: PIMCO*<br>| 1.02% | 10.08% | 3.31% | N/A |
| Investment<br> Grade Bond<br>| PIMCO VIT International Bond Portfolio (U.S. <br> Dollar-Hedged) — Advisor Class<br>*Adviser: PIMCO*<br>| 1.19% | 3.85% | 0.93% | 2.78% |
| Investment<br> Grade Bond<br>| PIMCO VIT Low Duration Portfolio — Advisor <br> Class<br>*Adviser: PIMCO*<br>| 0.76% | 5.42% | 1.47% | 1.69% |
| Investment<br> Grade Bond<br>| PIMCO VIT Short-Term Portfolio — Advisor <br> Class<br>*Adviser: PIMCO*<br>| 0.75% | 4.57% | 3.14% | 2.65% |
| Investment<br> Grade Bond<br>| PIMCO VIT Total Return Portfolio — Advisor <br> Class<br>*Adviser: PIMCO*<br>| 0.83% | 8.78% | (0.08)% | 2.26% |
| Sector | Principal VC Real Estate Securities Account — <br> Class 2<br>*Adviser: Principal Global Investors, LLC /* <br> *Subadviser: Principal Real Estate Investors, LLC*<br>| 1.03% | 0.92% | 4.61% | 5.67%  |

---

Appendix 2A-10

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| International/Global<br> Equity<br>| Putnam VT International Value Fund — Class IB<br>*Adviser: Putnam Investment Management, LLC /* <br> *Subadvisers: Franklin Advisers, Inc., Franklin* <br> *Templeton Investment Management Limited and* <br> *The Putnam Advisory Company, LLC*<br>| 1.06% | 34.68% | 12.49% | 8.86% |
| Large Cap Equity | Voya Growth and Income Portfolio — Class S<br>*Adviser: Voya Investments, LLC ("Voya") /* <br> *Subadviser: Voya Investment Management Co.* <br> *LLC ("VIM")*<br>| 0.92% | 17.94% | 15.18% | 14.33% |
| Investment Grade <br> Bond<br>| Voya Intermediate Bond Portfolio — Class S<br>*Adviser: Voya / Subadviser: VIM*<br>| 0.80% | 7.46% | (0.09)% | 2.42% |
| Investment<br> Grade Bond<br>| Western Asset Core Plus VIT Portfolio — Class <br> II<sup>+++</sup> <br>*Adviser: FTFA / Subadvisers: Western Asset* <br> *Management Company, LLC; Western Asset* <br> *Management Company Limited; Western Asset* <br> *Management Company Ltd.; and Western Asset* <br> *Management Company Pte. Ltd.*<br>| 0.79% | 7.69% | (1.67)% | 1.85% |

---

\*

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 thereafter at the option of the Fund. Annual expenses for the Portfolio for the year ended December 31, 2025 reflect temporary fee reductions under such an arrangement.

<sup>+</sup>

Closed for policyowners who were not invested in the Investment Division on November 13, 2017, and closed for other policyowners if all your Accumulation Value is removed from the Investment Division on or after November 13, 2017.

<sup>++</sup>

Closed for policyowners who were not invested in the Investment Division on November 23, 2020, and closed for other policyowners if all your Accumulation Value is removed from the Investment Division on or after November 23, 2020.

<sup>+++</sup>

Closed for policyowners who were not invested in the Investment Division on May 1, 2026, and closed for other policyowners if all your Accumulation Value is removed from the Investment Division on or after May 1, 2026.

The following is a list of fixed options currently available under the policy. We may change the features of the fixed options listed below and offer new fixed options. We will provide you with written notice before doing so.

---

| | | |
|:---|:---|:---|
| **Name** | **Term** | **Guaranteed** <br> **Minimum Interest** <br> **Rate**<br>|
| **Fixed Account** | N/A | **0.05%** |
| **DCA Advantage** <br> **Account**<br>| 6 months | **0.05%** |

---

Appendix 2A-11

------

**Appendix 2b** 

***Allocation Options available with IPP and IPP II***

If you elect either the IPP (after February 15, 2010) or IPP II rider, then you will only be allowed to allocate your premium payments to certain Allocation Options and the DCA Advantage Account. You may not allocate more than 25% of your initial premium payment to the Fixed Account. **The Fixed Account is not available for policies issued in the State of New York. In addition, the Fixed Account is not available in the State of Washington if the IPP or IPP II rider is selected.** The allowable Allocation Options under IPP and IPP II are as follows:

Fixed Account\*

NYLIM VP Balanced — Service Class

NYLIM VP Bond — Service Class

NYLIM VP Conservative Allocation — Service Class

NYLIM VP Fidelity Institutional AM<sup>®</sup> Utilities — Service Class

NYLIM VP Floating Rate — Service Class

NYLIM VP Growth Allocation — Service Class

NYLIM VP Hedge Multi-Strategy — Service Class

NYLIM VP Income Builder — Service Class

NYLIM VP Janus Henderson Balanced — Initial Class

NYLIM VP Janus Henderson Balanced — Service Class

NYLIM VP MacKay Convertible — Service Class

NYLIM VP MacKay High Yield Corporate Bond — Service Class

NYLIM VP MacKay Strategic Bond — Service Class

NYLIM VP MacKay U.S. Infrastructure Bond — Service Class

NYLIM VP Moderate Allocation — Service Class

NYLIM VP PIMCO Real Return — Service Class

NYLIM VP U.S. Government Money Market — Initial Class

American Funds<sup>®</sup> IS Asset Allocation Fund — Class 4

American Funds<sup>®</sup> IS The Bond Fund of America<sup>®</sup> — Class 4

American Funds<sup>®</sup> IS Capital World Bond Fund<sup>®</sup> — Class 4

American Funds<sup>®</sup> IS U.S. Government Securities Fund<sup>®</sup> — Class 4

BlackRock<sup>®</sup> Global Allocation V.I. Fund — Class III

BlackRock<sup>®</sup> High Yield V.I. Fund — Class III

Columbia Variable Portfolio — Emerging Markets Bond Fund — Class 2

Columbia Variable Portfolio — Intermediate Bond Fund — Class 2

DWS Alternative Asset Allocation VIP — Class B

Fidelity<sup>®</sup> VIP Bond Index Portfolio — Service Class 2

Fidelity<sup>®</sup> VIP FundsManager<sup>®</sup> 60% Portfolio — Service Class

Fidelity<sup>®</sup> VIP Investment Grade Bond Portfolio — Service Class 2

Franklin Templeton Moderately Aggressive Model Portfolio — Class II

Franklin Templeton Moderate Model Portfolio — Class II

Franklin Templeton Moderately Conservative Model Portfolio — Class II

Franklin Templeton Conservative Model Portfolio — Class II

Lord Abbett Series Fund, Inc - Short Duration Income Portfolio — Class VC

PIMCO VIT Income Portfolio — Advisor Class

PIMCO VIT International Bond Portfolio (U.S. Dollar-Hedged) — Advisor Class

PIMCO VIT Low Duration Portfolio — Advisor Class

PIMCO VIT Short-Term Portfolio — Advisor Class

PIMCO VIT Total Return Portfolio — Advisor Class

Voya Intermediate Bond Portfolio — Class S

Western Asset Core Plus VIT Portfolio — Class II

\*

You may not allocate more than 25% of your initial premium payment to the Fixed Account. Not available in New York or Washington.

Appendix 2b-1

------

**Appendix 2c** 

***Investment Divisions, Model Portfolios and Asset Allocation Models available with GIPR and GIPR 2.0***

***Option 1 – Choose Your Own Investment Divisions*** 

---

| | | |
|:---|:---|:---|
| ***<u>Asset Allocation Categories:</u>*** |  |  |
| **<u>Category A:</u>** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 30<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 100<br> %<br>|  |
| **<u>Category A Funds</u>** |  |  |
| NYLIM VP Bond |  | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| NYLIM VP Floating Rate |  | Fidelity<sup>®</sup> VIP Investment Grade Bond Portfolio |
| NYLIM VP MacKay High Yield Corporate Bond |  | Lord Abbett Series Fund, Inc. - Short Duration Income Port. |
| NYLIM VP MacKay Strategic Bond |  | PIMCO VIT Income Portfolio |
| NYLIM VP MacKay U.S. Infrastructure Bond |  | PIMCO VIT International Bond Port. (U.S. Dollar-Hedged) |
| NYLIM VP PIMCO Real Return |  | PIMCO VIT Low Duration Portfolio |
| NYLIM VP U.S. Government Money Market |  | PIMCO VIT Short-Term Portfolio |
| American Funds<sup>®</sup> IS The Bond Fund of America<sup>®</sup> |  | PIMCO VIT Total Return Portfolio |
| American Funds<sup>®</sup> IS Capital World Bond Fund<sup>®</sup> |  | Voya Intermediate Bond Portfolio |
| American Funds<sup>®</sup> IS U.S. Government Securities Fund<sup>®</sup> |  | Western Asset Core Plus VIT Portfolio |
| BlackRock<sup>®</sup> High Yield V.I. Fund |  |  |
| Columbia Variable Portfolio — Emerging Markets Bond |  |  |
| Columbia Variable Portfolio — Intermediate Bond Fund |  |  |
| **<u>Category B:</u>** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 0<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 70<br> %<br>|  |
| **<u>Category B Funds</u>** |  |  |
| NYLIM VP American Century Large Cap Equity |  | American Funds<sup>®</sup> IS Asset Allocation Fund |
| NYLIM VP Balanced |  | American Funds<sup>®</sup> IS Growth Fund |
| NYLIM VP Conservative Allocation |  | American Funds<sup>®</sup> IS Growth-Income Fund |
| NYLIM VP Dimensional U.S. Equity |  | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| NYLIM VP Epoch U.S. Equity Yield |  | BlackRock<sup>®</sup> Global Allocation V.I. Fund |
| NYLIM VP Equity Allocation |  | BNY Mellon Sustainable U.S. Equity Portfolio |
| NYLIM VP Fidelity Institutional AM<sup>®</sup> Utilities |  | DWS Alternative Asset Allocation VIP |
| NYLIM VP Growth Allocation |  | Fidelity<sup>®</sup> VIP Contrafund<sup>SM</sup> Portfolio |
| NYLIM VP Hedge Multi-Strategy |  | Fidelity<sup>®</sup> VIP FundsManager<sup>®</sup> 60% Portfolio |
| NYLIM VP Income Builder |  | Fidelity<sup>®</sup> VIP Growth Opportunities Portfolio |
| NYLIM VP Janus Henderson Balanced |  | Franklin Templeton Moderately Aggressive Model Portfolio |
| NYLIM VP MacKay Convertible |  | Franklin Templeton Moderate Model Portfolio |
| NYLIM VP MFS<sup>®</sup> Investors Trust |  | Franklin Templeton Moderately Conservative Model Portfolio |
| NYLIM VP MFS<sup>®</sup> Research |  | Franklin Templeton Conservative Model Portfolio |
| NYLIM VP Moderate Allocation |  | LVIP ClearBridge Appreciation Fund |
| NYLIM VP S&P 500 Index |  | Voya Growth and Income Portfolio |
| NYLIM VP Wellington Growth |  |  |
| NYLIM VP Winslow Large Cap Growth |  |  |
| AB VPS Relative Value Portfolio |  |  |
| **<u>Category C:</u>** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 0<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 10<br> %<br>|  |

---

Appendix 2c-1

------

---

| | |
|:---|:---|
| **<u>Category C Funds</u>** |  |
| NYLIM VP Candriam Emerging Markets Equity<br> NYLIM VP CBRE Global Infrastructure<br> NYLIM VP Natural Resources<br> NYLIM VP Newton Technology Growth<br> NYLIM VP PineStone International Equity<br> NYLIM VP Schroders Mid Cap Opportunities<br> NYLIM VP Small Cap Growth<br> NYLIM VP Wellington Small Cap<br> American Funds<sup>®</sup> IS New World Fund<sup>®</sup><br> American Funds<sup>®</sup> IS SMALLCAP World Fund<sup>®</sup><br> Columbia Variable Portfolio — Commodity Strategy <br> Columbia Variable Portfolio — Small Cap Value Discovery<br> Columbia Variable Portfolio — Small Company Growth<br> Fidelity<sup>®</sup> VIP Emerging Markets Portfolio<br> Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>Fidelity<sup>®</sup> VIP Extended Market Index Portfolio<br>| &nbsp;&nbsp; Fidelity<sup>®</sup> VIP Health Care Portfolio<br> Fidelity<sup>®</sup> VIP International Capital Appreciation Portfolio<br> Fidelity<sup>®</sup> VIP International Index Portfolio<br> Fidelity<sup>®</sup> VIP Mid Cap Portfolio<br> Franklin Gold and Precious Metals VIP Fund<br> Goldman Sachs VIT International Equity Insights Fund<br> Invesco V.I. EQV International Equity Fund<br> Invesco V.I. Main Street Small Cap Fund<sup>®</sup><br> Janus Henderson Enterprise Portfolio<br> Janus Henderson Global Research Portfolio<br> MFS<sup>®</sup> International Intrinsic Equity Portfolio<br> MFS<sup>®</sup> Mid Cap Value Portfolio<br> MFS<sup>®</sup> Research International Portfolio<br> Neuberger Berman AMT Mid Cap Growth Portfolio<br> Nomura VIP Small Cap Value Series<br> Principal VC Real Estate Securities Account<br> Putnam VT International Value Fund<br>|

---

***Option 2 – Franklin Templeton Model Portfolios*** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Aggressive</u>** | **<u>Moderately Aggressive</u>** | **<u>Moderate</u>** | **<u>Moderate</u>** |
| 100% | Franklin Templeton Moderately Aggressive Model <br> Portfolio<br>| 100% | Franklin Templeton Moderate Model Portfolio |
| **<u>Moderately Conservative</u>** | **<u>Moderately Conservative</u>** | **<u>Conservative</u>** | **<u>Conservative</u>** |
| 100% | Franklin Templeton Moderately Conservative Model <br> Portfolio<br>| 100% | Franklin Templeton Conservative Model Portfolio |

---

***Option 3 – Asset Allocation Models (subject to availability)*** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Aggressive</u>** | **<u>Moderately Aggressive</u>** | **<u>Moderate</u>** | **<u>Moderate</u>** |
| 10% | NYLIM VP S&P 500 Index | 10% | NYLIM VP S&P 500 Index |
| 10% | DWS Alternative Asset Allocation VIP | 10% | DWS Alternative Asset Allocation VIP |
| 7% | PIMCO VIT Total Return Portfolio | 8% | NYLIM VP Bond |
| 7% | NYLIM VP MacKay High Yield Corporate Bond | 7% | PIMCO VIT Total Return Portfolio |
| 7% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund | 7% | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| 7% | NYLIM VP Schroders Mid Cap Opportunities | 7% | NYLIM VP MacKay High Yield Corporate Bond |
| 6% | NYLIM VP Bond | 6% | NYLIM VP MacKay U.S. Infrastructure Bond |
| 6% | NYLIM VP MFS<sup>®</sup> Investors Trust | 5% | NYLIM VP PIMCO Real Return |
| 5% | NYLIM VP PIMCO Real Return | 5% | Columbia Variable Portfolio — Emerging Markets Bond |
| 5% | Columbia Variable Portfolio — Emerging Markets Bond | 5% | NYLIM VP MFS<sup>®</sup> Investors Trust |
| 5% | NYLIM VP MFS<sup>®</sup> Research | 5% | NYLIM VP MFS<sup>®</sup> Research |
| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>|
| 5% | LVIP ClearBridge Appreciation Fund | 5% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| 5% | NYLIM VP PineStone International Equity | 5% | NYLIM VP Schroders Mid Cap Opportunities |
| 5% | American Funds<sup>®</sup> IS New World Fund<sup>®</sup> | 5% | American Funds<sup>®</sup> IS New World Fund<sup>®</sup> |
| 5% | MFS<sup>®</sup> International Intrinsic Equity Portfolio | 5% | MFS<sup>®</sup> International Intrinsic Equity Portfolio |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Conservative</u>** | **<u>Moderately Conservative</u>** | **<u>Conservative</u>** | **<u>Conservative</u>** |
| 10% | NYLIM VP Bond | 14% | PIMCO VIT International Bond Port (U.S. Dollar-Hedged) |
| 10% | PIMCO VIT Total Return Portfolio | 12% | NYLIM VP Bond |
| 10% | DWS Alternative Asset Allocation VIP | 11% | PIMCO VIT Total Return Portfolio |
| 9% | Fidelity<sup>®</sup> VIP Bond Index Portfolio | 10% | NYLIM VP MacKay U.S. Infrastructure Bond  |

---

Appendix 2c-2

------

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Conservative</u>** | **<u>Moderately Conservative</u>** | **<u>Conservative</u>** | **<u>Conservative</u>** |
| 8% | NYLIM VP MacKay U.S. Infrastructure Bond | 10% | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| 7% | NYLIM VP MacKay High Yield Corporate Bond | 10% | DWS Alternative Asset Allocation VIP |
| 6% | NYLIM VP PIMCO Real Return | 7% | NYLIM VP PIMCO Real Return |
| 5% | PIMCO VIT International Bond Port (U.S. Dollar-Hedged) | 7% | NYLIM VP MacKay High Yield Corporate Bond |
| 5% | Columbia Variable Portfolio — Emerging Markets Bond | 5% | Columbia Variable Portfolio — Emerging Markets Bond |
| 5% | NYLIM VP S&P 500 Index | 4% | BlackRock<sup>®</sup> High Yield V.I. Fund |
| 5% | NYLIM VP MFS<sup>®</sup> Investors Trust | 4% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| 5% | NYLIM VP MFS<sup>®</sup> Research | 3% | NYLIM VP MFS<sup>®</sup> Research |
| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> | 3% | NYLIM VP Schroders Mid Cap Opportunities |
| 5% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |  |  |
| 5% | NYLIM VP Schroders Mid Cap Opportunities |  |  |

---

Appendix 2c-3

------

**Appendix 3**

***State Variations*** 

---

| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
| California | &nbsp;&nbsp; Guaranteed Investment Protection Rider and <br> Guaranteed Investment Protection Rider 2.0<br>| &nbsp;&nbsp; An ownership change or assignment of the <br> policy does not terminate the Guaranteed <br> Investment Protection Rider or Guaranteed <br> Investment Protection Rider 2.0.<br>|
| Connecticut | &nbsp;&nbsp; Guaranteed Investment Protection Rider and <br> Guaranteed Investment Protection Rider 2.0<br>| &nbsp;&nbsp; (a) If you discontinue the rider we will not <br> charge a Rider Risk Charge Adjustment.(b) An <br> assignment of the policy does not terminate <br> the GIPR or GIPR 2.0.<br>|
|  | Premium Credit | &nbsp;&nbsp; We will not deduct from the death benefit <br> proceeds any Premium Credit applied with 12 <br> months immediately preceding the date of <br> death of the Owner or Annuitant<br>|
| Florida | &nbsp;&nbsp; NYLIAC's right to limit or refuse allocation of <br> Premium Payments to the Fixed Account.<br>| &nbsp;&nbsp; If the five–year Constant Maturity Treasury <br> Rate less 125 basis points is below three <br> percent (3%), NYLIAC may refuse the <br> allocation of all or a portion of Premium <br> Payments to the Fixed Account.<br>|
|  | &nbsp;&nbsp; Guaranteed Investment Protection Rider and <br> Guaranteed Investment Protection Rider 2.0<br>| &nbsp;&nbsp; An ownership change or assignment of the <br> policy does not terminate the Guaranteed <br> Investment Protection Rider or Guaranteed <br> Investment Protection Rider 2.0.<br>|
| Massachusetts | Annuity Commencement Date | &nbsp;&nbsp; Policies are issued with unisex annuitization <br> rates.<br>|
| Michigan | Annuity Commencement Date | &nbsp;&nbsp; Policies are issued with unisex annuitization <br> rates.<br>|
| Montana | Annuity Commencement Date | &nbsp;&nbsp; Policies are issued with unisex annuitization <br> rates.<br>|
|  | &nbsp;&nbsp; Interest on payment of death proceeds or <br> withdrawals<br>| &nbsp;&nbsp; If settlement payment or withdrawal payment <br> is not made within the first thirty (30) days, it <br> will include interest from the 30th day until the <br> day the payment is released. Interest will be <br> paid at the discount rate on 90–day <br> commercial paper in effect at the Federal <br> Reserve Bank in the Ninth Federal Reserve <br> District at the time the payment is requested.<br>|
| New Jersey | Definition of Nonforfeiture Value | &nbsp;&nbsp; **NONFORFEITURE VALUE** –The <br> Nonforfeiture Value is equal to 90% of the <br> Consideration(s) allocated to the Fixed <br> Account and/or to the DCA Advantage Account <br> accumulated at the Nonforfeiture Rate since <br> the Payment Date or transfer date, minus any <br> amounts withdrawn or transferred from the <br> Fixed Account and/or the DCA Advantage <br> Account, with the remaining amount <br> accumulated at the Nonforfeiture Rate since <br> the date of withdrawal or transfer. <br>|

---

Appendix 3-1

------

---

| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
|  | Annuity Commencement Date | &nbsp;&nbsp; The Annuitant's Age on the Annuity <br> Commencement Date may not be greater than <br> age 90.<br> If the Accumulation Value of the Policy is an <br> amount that would provide Income Payments <br> of less than $20 a month on the Annuity <br> Commencement Date, NYLIAC will change the <br> frequency of the payments to an annual mode.<br>|
|  | &nbsp;&nbsp; NYLIAC's right to limit or refuse allocation of <br> Premium Payments to the Fixed Account.<br>| &nbsp;&nbsp; If the five–year Constant Maturity Treasury <br> Rate less 125 basis points is below three <br> percent (3%), NYLIAC may refuse the <br> allocation of all or a portion of a Premium <br> Payment to the Fixed Account.<br>|
|  | Civil Union Partner Endorsement | &nbsp;&nbsp; Civil Union partners are permitted to continue <br> the policy under the spousal continuance <br> provisions with the following exceptions. If your <br> Civil Union Partner continues the policy after <br> your death, your Civil Union Partner will have <br> all rights of ownership. However, to comply <br> with the Internal Revenue Code and the <br> applicable Treasury Regulations, the entire <br> proceeds of the policy must be either be:<br>(a) disbursed within five years of the <br> original Owner's death; or<br>(b) placed under the Life Income – <br> Guaranteed Period Payment Option or <br> any other Income Payment option that is <br> available at that time, provided that <br> such payments are made over the life of <br> the Civil Union Partner or over a number <br> of years that is not more than the life <br> expectancy of the Civil Union Partner <br> (as determined for federal tax purposes) <br> at the time of the original Owner's <br> death, and begin within one year after <br> the original Owner's death.<br>|
|  | Living Needs Benefit/Unemployment Rider | &nbsp;&nbsp; The name of the Living Needs <br> Benefit/Unemployment Rider is "Living Needs <br> Benefit Rider" and the Unemployment portion <br> of the rider is not available. Also, the Terminal <br> Illness Qualifying Event does not have to occur <br> after the Policy Date.<br>|
|  | &nbsp;&nbsp; Annual Death Benefit Reset (ADBR) Rider <br> (optional)<br>| &nbsp;&nbsp; The ADBR is not available with the EBB. Also, <br> the total death benefit under the policy cannot <br> exceed the greater of:<br>(a) 200% of the Adjusted Death Benefit <br> Premium Payment(s), or<br>(b) the Accumulation Value plus 50% of the <br> gain <br>|

---

Appendix 3-2

------

---

| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
| New York | Definition of Nonforfeiture Value | &nbsp;&nbsp; Nonforfeiture Value – The Nonforfeiture Value <br> is equal to 100% of the Premium Payment(s) <br> allocated to the DCA Advantage Account <br> accumulated at the crediting rate (which shall <br> be no less than the Guaranteed Minimum <br> Interest Rate) since the Payment Date, minus <br> any amounts withdrawn or transferred from the <br> DCA Advantage Account, with the remaining <br> amount accumulated at the crediting rate since <br> the date of withdrawal or transfer.<br>|
|  | Fixed Account | &nbsp;&nbsp; The Fixed Account is not available in New <br> York.<br>|
|  | &nbsp;&nbsp; Payment of interest on deferred death benefit <br> payments<br>| &nbsp;&nbsp; Death benefit payments deferred for more than <br> seven (7) days from the date of receipt of all <br> required information will receive interest <br> accrued daily at the rate currently paid by us <br> on proceeds left under the interest settlement <br> alternative.<br>|
|  | Optional Benefit Expenses | &nbsp;&nbsp; Any rider charges applicable to the policy may <br> not be deducted from the DCA Advantage <br> Account.<br>|
|  | &nbsp;&nbsp; Annual Death Benefit Reset (ADBR) Rider <br> Charge<br>| &nbsp;&nbsp; The ADBR rider charge will be deducted from <br> each Investment Division in proportion to its <br> percentage of the Variable Account Value of <br> the applicable quarter and will not reduce your <br> Adjusted Premium Payments.<br>|
|  | &nbsp;&nbsp; Investment Protection Plan Rider (optional), <br> Investment Protection Plan II Rider (optional), <br> Guaranteed Investment Protection Rider <br> (optional) and Guaranteed Investment <br> Protection Rider 2.0 (optional)<br>| &nbsp;&nbsp; (a) GIPR 2.0: While a policy is in force we may <br> not suspend or discontinue your right to reset <br> the guaranteed amount. (b) GIPR 2.0: If you <br> discontinue the rider we will not charge a Rider <br> Risk Charge Adjustment.(c) GIPR and GIPR <br> 2.0: An ownership change or assignment of <br> the policy does not terminate the rider.(d) The <br> policy does not have a fixed account; therefore, <br> the fixed account is not an investment <br> option.(e) The GIPR 2.0 death benefit for the <br> 20–year holding period is equal to the sum of <br> all Premium Payments made in the first Policy <br> Year, less any GIPR Proportional Withdrawals; <br> however, if you have exercised the Rider Reset <br> option, it is equal to the Policy's Accumulation <br> Value on the most recent Rider Reset effective <br> date, less any GIPR Proportional Withdrawals <br> made following the Rider Reset effective date.<br>|
|  | &nbsp;&nbsp; Charge for Investment Protection Plan Rider, <br> Charge for Investment Protection Plan II Rider, <br> Charge for Guaranteed Investment Protection <br> Rider and Charge for Guaranteed Investment <br> Protection Rider 2.0<br>| &nbsp;&nbsp; The IPP, IPP II, GIPR and GIPR 2.0 charge will <br> be deducted from each Investment Division <br> based on the funds in each rider Allocation <br> Option each policy quarter. Charges are not <br> deducted from the accumulation value in the <br> DCA Advantage Account. <br>|

---

Appendix 3-3

------

---

| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
|  | Definition of Adjusted Premium Payment | &nbsp;&nbsp; The definition of Adjusted Premium Payment – <br> is the total dollar amount of premium <br> payments made under the policy and allocated <br> to the Investment Divisions of the Separate <br> Account reduced by any withdrawals and <br> applicable surrender charges in excess of any <br> gain in the policy.<br>|
|  | Delay of Payments | &nbsp;&nbsp; We will pay interest on payments of any partial <br> withdrawal or full surrender request from the <br> DCA Advantage Account deferred for ten (10) <br> business days or more. If payments are <br> deferred, we will pay interest at the rate <br> currently paid on proceeds left under the <br> interest settlement alternative, from the date <br> we receive your written request at our <br> Executive Office or service office. The interest <br> will be added to and be part of the total sum <br> paid.<br>|
|  | Our Right to Cancel | &nbsp;&nbsp; If we do not receive premium payments for a <br> period of three years, and the Accumulation <br> Value of your policy would provide Income <br> Payments of less than $20 per month on the <br> Annuity Commencement Date, we reserve the <br> right to terminate your policy.<br>|
|  | Premium Credit | &nbsp;&nbsp; (a) You may qualify for the 4% Premium Credit <br> Rate even if your initial premium payment is <br> less than $500,000, if at the time you purchase <br> a New York Life Premier Plus Variable Annuity <br> policy, you also purchased additional policies <br> for this same product at the same time and the <br> aggregate initial premium paid on all the <br> policies is at least $1 million. To aggregate <br> premiums, you must, before purchasing the <br> policy, inform your registered representative <br> that you have policies that can be <br> aggregated.(b) We will not deduct from the <br> death benefit proceeds payable from the DCA <br> Advantage Account any Premium Credit <br> applied within 12 months immediately <br> preceding the date of death of the Owner or <br> Annuitant.<br>|
| Oregon | Annuity Commencement Date | &nbsp;&nbsp; On the Annuity Commencement Date, if you <br> elect to have the Accumulation Value paid to <br> you in a single sum, a Surrender Charge may <br> also apply if the Annuity Commencement Date <br> you elect occurs before the earlier of (a) the <br> end of the surrender charge period applicable <br> to your initial Premium Payment, or (b) the end <br> of the 10th Policy Year. <br>|

---

Appendix 3-4

------

---

| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
|  | Base Contract Charges | &nbsp;&nbsp; M&E charges based on the adjusted premium <br> payment cannot be based on premium in the <br> DCA Advantage Account.<br>|
|  | Definition of Adjusted Premium Payment | &nbsp;&nbsp; Adjusted Premium Payment — The total <br> Premium Payment(s) allocated to the <br> Investment Divisions of the Separate Account <br> reduced by withdrawals and applicable <br> surrender charges in excess of any gain in the <br> Policy.<br>|
|  | &nbsp;&nbsp; NYLIAC's right to limit or refuse allocation of <br> Premium Payments to the Fixed Account or <br> the DCA Advantage Account<br>| &nbsp;&nbsp; If the five–year Constant Maturity Treasury <br> Rate minus 125 basis points is less than the <br> Nonforfeiture Rate shown on the Policy Data <br> Page, NYLIAC may refuse the allocation of all <br> or a portion of a Premium Payment to the <br> Fixed Account or the DCA Advantage Account<br>|
|  | Investment Protection Plan Rider | &nbsp;&nbsp; If you discontinue the Investment Protection <br> Plan rider, we will not charge a Rider Risk <br> Charge Adjustment. The name of the <br> Investment Protection Plan rider is <br> "Accumulation Value Protection Plan."<br>|
| Texas | Annuity Commencement Date | &nbsp;&nbsp; The maximum Annuity Commencement Date <br> allowed for the policy is age 115.<br>|
| Washington | Annuity Commencement Date | &nbsp;&nbsp; The maximum Annuity Commencement Date <br> allowed for the policy is age 100.<br>|
|  | &nbsp;&nbsp; Investment Protection Plan Rider, Investment <br> Protection Plan II Rider, Guaranteed <br> Investment Protection Rider and Guaranteed <br> Investment Protection Rider 2.0<br>| &nbsp;&nbsp; IPP with fund restrictions, IPP II, GIPR and <br> GIPR 2.0: The Fixed Account is not available <br> with these riders. Also, though the rider charge <br> may be based on funds in the DCA Advantage <br> Account, the charge may not be deducted from <br> the DCA Advantage Account. The rider charge <br> may only be deducted from the applicable <br> investment divisions.<br>|
|  | &nbsp;&nbsp; Rider Risk Charge Adjustment for IPP, IPP II, <br> GIPR and GIPR 2.0<br>| &nbsp;&nbsp; For the IPP with fund restrictions, IPP II, GIPR <br> and GIPR 2.0: The Rider Risk Charge <br> Adjustment will not be deducted from the DCA <br> Advantage Account.<br>|

---

Appendix 3-5

------

**Back Cover Page** 

The Statement of Additional Information (SAI) dated May 1, 2026 contains more information about the policies and the Separate Accounts. The SAI has been filed with the SEC and is incorporated by reference into this Summary Prospectus. The SAI is posted on our website, https://dfinview.com/NewYorkLife/TAHD/premier. For a free paper copy of the SAI, to request other information about the policies, and to make investor inquiries call us at (800) 598-2019 or write to us at NYLIAC Variable Product Service Center, Madison Square Station, P.O. Box 922, New York, NY 10159.

Reports and other information about the Separate Accounts are available on the SEC's website at https://www.sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

Separate Account III EDGAR contract identifier #C000074527

Separate Account IV EDGAR contract identifier #C000074529

------

**Statement of Additional Information** 

**May 1, 2026**

**for** 

**New York Life Premier Variable Annuity** 

**From** 

**New York Life Insurance and Annuity Corporation**

**(a Delaware Corporation)** 

**51 Madison Avenue, New York, New York 10010** 

**Investing in** 

**NYLIAC Variable Annuity Separate Account-III**

**NYLIAC Variable Annuity Separate Account-IV** 

This Statement of Additional Information ("SAI") is not a prospectus. This SAI contains information that expands upon subjects discussed in the current New York Life Premier Variable Annuity Prospectus. You should read the SAI in conjunction with the current New York Life Premier Variable Annuity Prospectus dated May 1, 2026. You may obtain a copy of the Prospectus by calling New York Life Insurance and Annuity Corporation ("NYLIAC") at (800) 598-2019 or writing to NYLIAC at Madison Square Station, P.O. Box 922, New York, NY 10159. Terms used but not defined in this SAI have the same meaning as in the current New York Life Premier Variable Annuity Prospectus.

**[**Table of Contents**](#xx_0a4975d9-9150-47b4-a29c-7a08877a216d_TOC_0)** 

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| | |
|:---|:---|
| **[General Information and History](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_1)** | &nbsp;&nbsp; 2 |
| [New York Life Insurance and Annuity Corporation](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_1) | &nbsp;&nbsp; 2 |
| [The Separate Account](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_1) | &nbsp;&nbsp; 2 |
| **[The Policies](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_1)** | &nbsp;&nbsp; 2 |
| **[Additional information about risks (Non-Principal Risks)](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_2)** | &nbsp;&nbsp; 3 |
| **[Annuity Payments (The Income Phase)](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_2)** | &nbsp;&nbsp; 3 |
| **[General Matters](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_3)** | &nbsp;&nbsp; 4 |
| **[Federal Tax Matters](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_3)** | &nbsp;&nbsp; 4 |
| [Taxation of New York Life Insurance and Annuity Corporation](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_3) | &nbsp;&nbsp; 4 |
| [Tax Status of the Policies](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_3) | &nbsp;&nbsp; 4 |
| **[Safekeeping Of Separate Account Assets](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_4)** | &nbsp;&nbsp; 5 |
| **[State Regulation](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_4)** | &nbsp;&nbsp; 5 |
| **[Records and Reports](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_5)** | &nbsp;&nbsp; 6 |
| **[Financial Statements](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_5)** | &nbsp;&nbsp; 6 |
| **[Other Information](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_5)** | &nbsp;&nbsp; 6 |
| **[Appendix](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_6)[1](#xx_1b79bc8f-9bdb-4f5f-a30b-f214c2d2186f_6)** | &nbsp;&nbsp; 1<br>|

---

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**General Information and History**

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***New York Life Insurance and Annuity Corporation*** 

New York Life Insurance and Annuity Corporation ("NYLIAC") is a stock life insurance company incorporated in Delaware in 1980. NYLIAC is licensed to sell life, accident and health insurance and annuities in the District of Columbia and all states. In addition to the policies described in this SAI, NYLIAC offers life insurance policies and other annuities.

NYLIAC is a wholly-owned subsidiary of New York Life Insurance Company, a mutual life insurance company doing business in New York since 1845. NYLIAC held assets of $223.5 billion at the end of 2025. New York Life Insurance Company has invested in NYLIAC, and will occasionally make additional contributions to NYLIAC in order to maintain capital and surplus in accordance with state requirements.

***The Separate Account*** 

Separate Account-III was established on November 30, 1994 and Separate Account-IV was established on June 10, 2003, pursuant to resolutions of the NYLIAC Board of Directors. The Separate Accounts are registered as unit investment trusts with the Securities and Exchange Commission under the Investment Company Act of 1940. This registration does not signify that the Securities and Exchange Commission supervises the management, or the investment practices or policies, of the Separate Accounts. Although the assets of the Separate Accounts belong to NYLIAC, these assets are held separately from our other assets. The Separate Accounts' assets are not chargeable with liabilities incurred in any of NYLIAC's other business operations (except to the extent that assets in the Separate Accounts exceed the reserves and other liabilities of that Separate Account). The income, capital gains and capital losses incurred on the assets of the Separate Accounts are credited to or charged against the assets of the Separate Accounts without regard to the income, capital gains or capital losses arising out of any other business NYLIAC may conduct. Therefore, the investment performance of the Separate Accounts is entirely independent of the investment performance of the Fixed Account, the DCA Advantage Account and any other separate account of NYLIAC.

**The Policies**

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The following provides additional information about the policies and supplements the description in the Prospectus.

*Valuation of Accumulation Units*

Accumulation Units are valued separately for each Investment Division of the Separate Account. The method used for valuing Accumulation Units in each Investment Division is the same. We arbitrarily set the value of each Accumulation Unit as of the date operations began for the Investment Division. Thereafter, the value of an Accumulation Unit of an Investment Division for any Business Day equals the value of an Accumulation Unit in that Investment Division as of the immediately preceding Business Day multiplied by the "Net Investment Factor" for that Investment Division for the current Business Day.

We determine the Net Investment Factor for Accumulation Value Based M&E Charge (Separate Account-III) policies for each Investment Division for any period from the close of the preceding Business Day to the close of the current Business Day (the "Valuation Period") by the following formula:

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---

| | | | |
|:---|:---|:---|:---|
| (a/b) – c | (a/b) – c | (a/b) – c | (a/b) – c |
| Where:<br> a | = | the result of: | the result of: |
|  |  | (1) | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined <br> at the end of the current Valuation Period, plus<br>|
|  |  | (2) | the per share amount of any dividend or capital gain distribution made by the Eligible Portfolio for <br> shares held in the Investment Division if the "ex-dividend" date occurs during the current Valuation <br> Period;<br>|
| b | = | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined as <br> of the end of the immediately preceding Valuation Period; and | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined as <br> of the end of the immediately preceding Valuation Period; and |
| c | = | the daily Mortality and Expense Risk and Administrative Costs charge, which is 1/365th\* of the annual <br> Mortality and Expense Risk and Administrative Costs Charge shown on the Policy Data Page. | the daily Mortality and Expense Risk and Administrative Costs charge, which is 1/365th\* of the annual <br> Mortality and Expense Risk and Administrative Costs Charge shown on the Policy Data Page. |
| \* |  | In a leap year, this calculation is based on 366 days. | In a leap year, this calculation is based on 366 days. |

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In each case, the Net Investment Factor for Premium Based M&E Charge (Separate Account-IV) policies is determined by the following formula:

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| | | | |
|:---|:---|:---|:---|
| (a/b) | (a/b) | (a/b) | (a/b) |
| Where:<br> a | = | the result of: | the result of: |
|  |  | (1) | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined <br> at the end of the current Valuation Period, plus<br>|
|  |  | (2) | the per share amount of any dividend or capital gain distribution made by the Eligible Portfolio for <br> shares held in the Investment Division if the "ex-dividend" date occurs during the current Valuation <br> Period;<br>|
| b | = | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined as <br> of the end of the immediately preceding Valuation Period. | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined as <br> of the end of the immediately preceding Valuation Period. |

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In each case, the Net Investment Factor may be greater or less than one. Therefore, the value of an Accumulation Unit in an Investment Division may increase or decrease from Valuation Period to Valuation Period.

**Additional information about risks (Non-Principal Risks)**

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***Geopolitical Risks*** 

Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues like pandemics or epidemics, natural disasters, recessions, and other events, could have a serious negative impact on, among other things, the performance, liquidity and valuation of investments in the Portfolios you choose. In light of these developments, your premium and Accumulation Value allocation choices should be consistent with your personal investment objective and your risk tolerance. In addition, governmental authorities have imposed prohibitions on transactions in investments in certain foreign sectors—for example, prohibitions imposed by the U.S. government on investment in companies in the Communist Chinese defense and related material sectors and surveillance technology sectors. If Eligible Portfolios do not comply with such prohibitions, it is possible that we could not allow contract owners to make any new investment in those Portfolios (by premium allocation or transfer), and we could even require that contract owners move any Cash Value out of the affected Eligible Portfolio(s). You should consult each Fund's prospectus, statement of additional information, and annual and semi-annual reports for more information on these geopolitical risks and potential investment restrictions.

**Annuity Payments (The Income Phase)**

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Unless you instruct us otherwise, we will make equal annuity payments each month under the Life Income Payment Option during the lifetime of the Annuitant. Once payments begin, they do not change and are guaranteed for 10 years even if the Annuitant dies sooner. If the Annuitant dies before all guaranteed payments have been made, the rest will be made to the Beneficiary. We may require that the payee submit proof of the Annuitant's survivorship as a condition for future payments beyond the 10-year guaranteed payment period.

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On the Annuity Commencement Date, we will determine the Accumulation Value of your policy and use that value to calculate the amount of each annuity payment. We determine each annuity payment by applying the Accumulation Value, less any premium taxes, to the annuity factors specified in the annuity table set forth in the policy. Those factors are based on a set amount per $1,000 of proceeds applied. The appropriate rate must be determined by the gender (except where, as in the case of certain Qualified Policies and other employer-sponsored retirement plans, such classification is not permitted), date of application and age of the Annuitant. The dollars applied are then divided by 1,000 and the result multiplied by the appropriate annuity factor from the table to compute the amount of each monthly annuity payment.

**General Matters**

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***Non-Participating.*** The policies are non-participating. Dividends are not paid.

***Misstatement of Age or Gender.*** If the Annuitant's stated age and/or gender in the policy are incorrect, NYLIAC will change the benefits payable to those which the premium payments would have purchased for the correct age and gender. Gender is not a factor when annuity benefits are based on unisex annuity payment rate tables. (See "Income Payments—Election of Income Payment Options" in the Prospectus.) If we made payments based on incorrect age or gender, we will increase or reduce a later payment or payments to adjust for the error. Any adjustment will include interest, at 1.0% per year, from the date of the wrong payment to the date the adjustment is made.

***Assignments.*** If permitted by the plan or by law for the plan indicated in the application for the policy, you may assign your interest in a Non-Qualified Policy or any interest in it prior to the Annuity Commencement Date and during the Owner's lifetime. In order to effect an assignment of all or any part of your interest in a Non-Qualified Policy prior to the Annuity Commencement Date and during the Owner's lifetime, you must send a duly executed instrument of assignment to the NYLIAC Variable Products Service Center at one of the addresses listed in the "CONTACTING NYLIAC" section of the Prospectus. NYLIAC will not be deemed to know of an assignment unless it receives a copy of a duly executed instrument evidencing such assignment in Good Order. Further, NYLIAC assumes no responsibility for the validity of any assignment. (See "Federal Tax Matters—Taxation of Annuities in General" of the Prospectus.)

***Modification.*** NYLIAC may not modify the policy without your consent except to make the policy meet the requirements of the Investment Company Act of 1940, or to make the policy comply with any changes in the Code or as required by the Code in order to continue treatment of the policy as an annuity, or by any other applicable law.

***Incontestability.*** We rely on statements made in the application or a Policy Request. They are representations, not warranties. We will not contest the policy after it has been in force during the lifetime of the Annuitant for two years from the Policy Date.

**Federal Tax Matters**

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***Taxation of New York Life Insurance and Annuity Corporation***

NYLIAC is taxed as a life insurance company. Because the Separate Account is not an entity separate from NYLIAC, and its operations form a part of NYLIAC, it will not be taxed separately as a "regulated investment company" under Subchapter M of the Code. 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. Investment income and realized net capital gains on the assets of the Separate Account are reinvested and are taken into account in determining the Accumulation Value. As a result, such investment income and realized net capital gains are automatically retained as part of the reserves under the policy. 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.

***Tax Status of the Policies***

Section 817(h) of the Code requires that the investments of the Separate Account must be "adequately diversified" in accordance with Treasury regulations in order for the policies to qualify as annuity contracts under Section 72 of the Code. The Separate Account intends to comply with the diversification requirements prescribed by the Treasury under Treasury Regulation Section 1.817-5.

To comply with regulations under Section 817(h) of the Code, the Separate Account is required to diversify its investments, so that on the last day of each quarter of a calendar year, no more than 55% of the value of its assets is

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represented by any one investment, no more than 70% is represented by any two investments, no more than 80% is represented by any three investments, and no more than 90% is represented by any four investments. For this purpose, securities of a single issuer are treated as one investment and each U.S. Government agency or instrumentality is treated as a separate issuer. Any security issued, guaranteed, or insured (to the extent so guaranteed or insured) by the U.S. Government or an agency or instrumentality of the U.S. Government is treated as a security issued by the U.S. Government or its agency or instrumentality, whichever is applicable.

Although the Treasury Department has issued regulations on the diversification requirements, such regulations do not provide guidance concerning the extent to which policyowners may direct their investments to particular subaccounts of a separate account, or the permitted number of such subaccounts. It is unclear whether additional guidance in this regard will be issued in the future. It is possible that if such guidance is issued, the policy may need to be modified to comply with such additional guidance. For these reasons, NYLIAC reserves the right to modify the policy as necessary to attempt to prevent the policyowner from being considered the owner of the assets of the Separate Account or otherwise to qualify the policy for favorable tax treatment.

The Code also requires that non-qualified annuity contracts contain specific provisions for distribution of the policy proceeds upon the death of any policyowner. In order to be treated as an annuity contract for federal income tax purposes, the Code requires that such policies provide that (a) if any policyowner dies on or after the Annuity Commencement Date and before the entire interest in the policy has been distributed, the remaining portion must be distributed at least as rapidly as under the method in effect on the policyowner's death; and (b) if any policyowner dies before the Annuity Commencement Date, the entire interest in the policy must generally be distributed within 5 years after the policyowner's date of death. For policies owned by a grantor trust, these distribution requirements apply at the death of any Annuitant. These requirements will be considered satisfied if the entire interest of the policy is used to purchase an immediate annuity under which payments will begin within one year of the policyowner's death and will be made for the life of the Beneficiary or for a period not extending beyond the life expectancy of the Beneficiary. If the Beneficiary is the policyowner's surviving spouse (as defined under Federal law), the Policy may be continued with the surviving spouse as the new policyowner. If the policyowner is not a natural person, these "death of Owner" rules apply when the primary Annuitant dies or is changed. Non-Qualified Policies contain provisions intended to comply with these requirements of the Code. No regulations interpreting these requirements of the Code have yet been issued and thus no assurance can be given that the provisions contained in these policies satisfy all such Code requirements. The provisions contained in these policies will be reviewed and modified if necessary to assure that they comply with the Code requirements when clarified by regulation or otherwise.

Withholding of federal income taxes on the taxable portion of all distributions may be required unless the recipient elects not to have any such amounts withheld and properly notifies NYLIAC of that election. Different rules may apply to United States citizens or expatriates living abroad. In addition, some states have enacted legislation requiring withholding.

Even if a recipient elects no withholding, special rules may require NYLIAC to disregard the recipient's election if the recipient fails to supply NYLIAC with a "TIN" or taxpayer identification number (social security number for individuals) or if the Internal Revenue Service notifies NYLIAC that the TIN provided by the recipient is incorrect.

Under the Foreign Account Tax Compliance Act ("FATCA"), as reflected in Sections 1471 through 1474 of the IRC, 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 percent rate on certain payments beginning July 1, 2014.

**Safekeeping Of Separate Account Assets**

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NYLIAC holds title to assets of the Separate Accounts. The assets are kept physically segregated and held separate and apart from NYLIAC's general corporate assets. Records are maintained of all purchases and redemptions of Portfolio shares held by each of the Investment Divisions.

**State Regulation**

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NYLIAC is a stock life insurance company organized under the laws of Delaware, and is subject to regulation by the Delaware State Insurance Department. We file an annual statement with the Delaware Commissioner of Insurance on or before March 1 of each year covering the operations and reporting on the financial condition of NYLIAC as of

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December 31 of the preceding calendar year. Periodically, the Delaware Commissioner of Insurance examines the financial condition of NYLIAC, including the liabilities and reserves of the Separate Account.

In addition, NYLIAC is subject to the insurance laws and regulations of all the states where it is licensed to operate. The availability of certain policy rights and provisions depends on state approval and/or filing and review processes. Where required by state law or regulation, the policies will be modified accordingly.

**Records and Reports**

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NYLIAC maintains all records and accounts relating to the Separate Account. If you believe a transaction has been processed incorrectly, it is your responsibility to contact us in writing and provide us with all relevant details. You must provide us with the nature of the error, the date of the error and any other relevant details. It is important that you review your confirmation and quarterly statements carefully and promptly report any errors and discrepancies to us, preferably, within fifteen (15) days of the date of the statement in question.

It is important that you inform NYLIAC of an address change so that you can receive these policy statements (See the "CONTACTING NYLIAC" section of the Prospectus). In the event your statement is returned from the U.S. Postal Service as undeliverable, we reserve the right to suspend mailing future correspondence and also suspend current transaction processing until an accurate address is obtained. Additionally, no new service requests can be processed until a valid current address is provided.

**Financial Statements**

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The statutory financial statements of NYLIAC as of December 31, 2025 and 2024, and for each of the three years in the period ended December 31, 2025 incorporated in this SAI by reference to the report on Form N-VPFS dated April 7, 2026 have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting. The financial statements of each of the investment divisions of the Separate Account as of December 31, 2025 and for each of the periods indicated in the Financial Statements incorporated in this SAI by reference to the report on Form N-VPFS dated April 7, 2026 have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

<u>For Policies investing in NYLIAC Variable Annuity Separate Account—III:</u> 

[<u>Audited Statutory Financial Statements of NYLIAC as of December 31,</u> <u>2025 and</u> <u>2024 and</u> <u>for each of the three years</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)[<u>in the period ended December 31,</u> <u>2025</u> <u>— previously filed on Form N-VPFS for NYLIAC Variable Annuity Separate</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)[<u>Account—III (File No.</u> <u>811-0890</u><u>4), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)

[<u>Financial Statements of the Separate Account as of December 31,</u> <u>2025</u> <u>and for each of the periods as indicated in</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)[<u>those Financial Statements — previously filed on Form N-VPFS for NYLIAC Variable Annuity Separate Account—III (File</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)[<u>No.</u> <u>811-0890</u><u>4), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)

<u>For Policies investing in NYLIAC Variable Annuity Separate Account—IV:</u> 

[<u>Audited Statutory Financial Statements of NYLIAC as of December 31,</u> <u>2025 and</u> <u>2024 and</u> <u>for each of the three years</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)[<u>in the period ended December 31,</u> <u>2025</u> <u>— previously filed on Form N-VPFS for NYLIAC Variable Annuity Separate</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)[<u>Account—IV (File No.</u> <u>811-2139</u><u>7), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)

[<u>Financial Statements of the Separate Account as of December 31,</u> <u>2025</u> <u>and for each of the periods as indicated in</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)[<u>those Financial Statements — previously filed on Form N-VPFS for NYLIAC Variable Annuity Separate Account—IV (File</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)[<u>No.</u> <u>811-2139</u><u>7), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)

**Other Information**

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NYLIAC filed a Registration Statement with the Securities and Exchange Commission, under the Securities Act of 1933 as amended, with respect to the policies discussed in the Prospectus and this SAI. We have not included all of the information set forth in the registration statement, amendments and exhibits to the registration statement in the Prospectus and this SAI. For more information, you should refer to the instruments filed with the Securities and Exchange Commission. The omitted information may be obtained at the principal offices of the Securities and Exchange Commission in Washington, D.C., upon payment of prescribed fees, or through the Commission's website at www.sec.gov.

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**Appendix 1** 

**INFORMATION REGARDING SINGLE PREMIUM POLICIES**

**Dated May 1, 2026** 

NYLIAC offers an individual single premium version of the policy in some states. This Appendix modifies the May 1, 2026 Statement of Additional Information ("SAI") for the policies that describe the single premium version of the Policies.

When reading this Appendix together with the SAI, keep in mind that only one premium payment is permitted under the single premium policies and only one Premium Credit and/or Breakpoint Credit (if applicable) will be credited to such premium payment. Exceptions to this rule apply only in cases where part of your purchase payment is funded from another source, such as a 1035 exchange, rollover, or transfer from an institution. In such cases, we may receive parts of your purchase payment on different Business Days.

Accordingly, except in the circumstances described above, all references throughout the SAI to premium payments in the plural (and any Premium Credits and Breakpoint Credits (if applicable) thereon) should be read to mean the singular. Naturally, any features or services that relate to multiple premium payments are not applicable to the single premium policy.

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**RATE SHEET PROSPECTUS SUPPLEMENT DATED MAY 1, 2026**

**TO THE FOLLOWING PROSPECTUS DATED MAY 1, 2026** 

**New York Life Premier Variable Annuity II** 

**INVESTING IN** 

**NYLIAC Variable Annuity Separate Account–III** 

**NYLIAC Variable Annuity Separate Account–IV** 

This Rate Sheet Prospectus Supplement is to be used in connection with the prospectus ("Prospectus") for the variable annuity policies listed above that are issued by New York Life Insurance and Annuity Corporation ("NYLIAC"). You should read this information carefully and retain this supplement for future reference together with the Prospectus for your policy. This supplement is not valid unless it is read in conjunction with the Prospectus for your policy. All capitalized terms used but not defined in this supplement have the same meaning as those included in the Prospectus.

This Rate Sheet Prospectus Supplement updates the Ongoing Fees and Expenses (annual charges) for the policy provided in the "IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE POLICY" section of the Prospectus taking into account the current fees for the Investment Preservation Rider 5.0 ("IPR 5.0") disclosed in this Rate Sheet Prospectus Supplement. This Rate Sheet Prospectus Supplement also provides the:

&nbsp;&nbsp;&nbsp;&nbsp;(1) Current charges for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the IPR 5.0 for policies with an application signed on or after February 10, 2025 and resets under such policies of the IPR 5.0 with a Rider Reset Effective Date on or after February 10, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Investment Preservation Rider ("IPR"), Investment Preservation Rider 2.0 ("IPR 2.0"), Investment Preservation Rider 3.0 ("IPR 3.0"), and Investment Preservation Rider 4.0 ("IPR 4.0") with a Rider Reset Effective Date on or after May 1, 2019; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the IPR 5.0 for policies signed with an application signed prior to February 10, 2025 with a Rider Reset Effective Date on or after May 1, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Percentages applicable for determining the Guaranteed Amounts under the IPR 5.0 for policies with an application signed on or after February 10, 2025 (the "IPR Guarantee Percentage").

&nbsp;&nbsp;&nbsp;&nbsp;(3) Holding Periods currently available with the IPR 5.0. for policies with an application signed on or after November 13, 2023.

It is important that you have the most current Rate Sheet Prospectus Supplement as of the date you apply for a policy. In the event we publish a new Rate Sheet Prospectus Supplement after the date your application is signed but before we issue your policy, the charges and appliable IPR Guarantee Percentages will be those in the Rate Sheet Prospectus Supplement in effect on the date of your signed application.

It is also important that you have the most current Rate Sheet Prospectus Supplement if you elect to reset your IPR Guaranteed Amount. In the event we publish a new Rate Sheet Prospectus Supplement after the date you send in your written request to reset your IPR but before the Rider Reset Effective Date, we will apply the charge in effect on the Rider Reset Effective Date. Please be advised that the charges you pay for the IPR after you elect to reset may be different than the charges you paid prior to the Rider Reset Effective Date and could be more or less than the current charge reflected in this Rate Sheet Supplement; provided, however, that such charges will never exceed the guaranteed maximum charge set forth in the "TABLE OF FEES AND EXPENSES" in the Prospectus. If you are not satisfied with the new charges you pay for the IPR after you elect to reset, you may cancel the reset at any time prior to or within thirty (30) days after the Rider Reset Effective Date with no penalty.

**This Rate Sheet Prospectus Supplement has no specified end date and can be superseded at any time. If we supersede this Rate Sheet Prospectus Supplement with a new Rate Sheet Prospectus Supplement, the new Rate Sheet Prospectus Supplement will be filed a minimum of 10 business days prior to the effective date of the new rates.** You can obtain the most current Rate Sheet Prospectus Supplement online at https://dfinview.com/NewYorkLife/TAHD/premier-ii. You can also obtain this information at no cost by calling our

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Variable Products Service Center at 1-800-598-2019. This Rate Sheet Prospectus Supplement and the Prospectus can also be found on the U.S. Securities and Exchange Commission's website (www.sec.gov) by searching File No.

333-156018 and No. 333-156019.

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**IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE POLICY** 

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| | | | |
|:---|:---|:---|:---|
| **ANNUAL FEE** | **Minimum** | **Maximum** |  |
| Base contract<sup>1</sup> <br>| 1.00% | 1.50% | **CHARGES AND** <br> **DEDUCTIONS –** <br> **Annual Policy** <br> **Expenses**<br>|
| Portfolio fees and expenses<sup>2</sup> <br>| 0.37% | 1.45% | **CHARGES AND** <br> **DEDUCTIONS –** <br> **Annual Portfolio** <br> **Expenses**<br>|
| Optional benefits available for an <br> additional charge (for a single <br> optional benefit, if elected)<sup>3</sup> <br>| 0.25% | 1.35% | **CHARGES AND** <br> **DEDUCTIONS –** <br> **Optional Benefit** <br> **Expenses**<br>|
| <sup>1</sup> As a percentage of Accumulation Value after the Surrender Charge <br> Period for the initial premium (Minimum Base Contract Charge) and as <br> a percentage of Premium Payment during the Surrender Charge Period <br> for the initial premium (Maximum Base Contract Charge, plus a <br> percentage attributable to the Annual Policy Service Charge).<br> <sup>2</sup> As a percentage of average net Portfolio assets. The range in fees <br> and expenses is for the year ended December 31, 2025 and will <br> change from year to year.<br> <sup>3</sup> The minimum fee reflects the current charge for the Annual Death <br> Benefit Rider, as an annualized percentage of the amount guaranteed <br> under the rider. The maximum fee reflects the current charge for the <br> Investment Preservation Rider or Investment Preservation Rider 2.0 <br> (10-year holding period), as an annualized percentage of the amount <br> that is guaranteed under the rider. | <sup>1</sup> As a percentage of Accumulation Value after the Surrender Charge <br> Period for the initial premium (Minimum Base Contract Charge) and as <br> a percentage of Premium Payment during the Surrender Charge Period <br> for the initial premium (Maximum Base Contract Charge, plus a <br> percentage attributable to the Annual Policy Service Charge).<br> <sup>2</sup> As a percentage of average net Portfolio assets. The range in fees <br> and expenses is for the year ended December 31, 2025 and will <br> change from year to year.<br> <sup>3</sup> The minimum fee reflects the current charge for the Annual Death <br> Benefit Rider, as an annualized percentage of the amount guaranteed <br> under the rider. The maximum fee reflects the current charge for the <br> Investment Preservation Rider or Investment Preservation Rider 2.0 <br> (10-year holding period), as an annualized percentage of the amount <br> that is guaranteed under the rider. | <sup>1</sup> As a percentage of Accumulation Value after the Surrender Charge <br> Period for the initial premium (Minimum Base Contract Charge) and as <br> a percentage of Premium Payment during the Surrender Charge Period <br> for the initial premium (Maximum Base Contract Charge, plus a <br> percentage attributable to the Annual Policy Service Charge).<br> <sup>2</sup> As a percentage of average net Portfolio assets. The range in fees <br> and expenses is for the year ended December 31, 2025 and will <br> change from year to year.<br> <sup>3</sup> The minimum fee reflects the current charge for the Annual Death <br> Benefit Rider, as an annualized percentage of the amount guaranteed <br> under the rider. The maximum fee reflects the current charge for the <br> Investment Preservation Rider or Investment Preservation Rider 2.0 <br> (10-year holding period), as an annualized percentage of the amount <br> that is guaranteed under the rider. |  |

---

---

| | |
|:---|:---|
| Because your policy is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your <br> policy, the following table shows the lowest and highest cost you could <br> pay each year, based on current charges. This estimate assumes that <br> you do not take withdrawals from the policy, which could add surrender <br> charges that substantially increase costs. | Because your policy is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your <br> policy, the following table shows the lowest and highest cost you could <br> pay each year, based on current charges. This estimate assumes that <br> you do not take withdrawals from the policy, which could add surrender <br> charges that substantially increase costs. |
| **LOWEST ANNUAL COST:**<br>$1,411.46 | **HIGHEST ANNUAL COST**<br>$3,591.02 |
| Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Least expensive combination of <br> Base Contract Charges and <br> Portfolio fees and expenses<br>•No optional benefits<br> •No sales charges<br> •No additional purchase <br> payments, transfers or <br> withdrawals<br>| Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Most expensive combination of <br> Base Contract Charges and <br> Portfolio fees and expenses<br>•No optional benefits<br> •No sales charges<br> •No additional purchase <br> payments, transfers or <br> withdrawals |

---

------

**ANNUAL CHARGES FOR THE IPR 5.0** 

**The current charge for the IPR 5.0 for policies with an application signed on or after February 10, 2025 is as follows:** 

---

| | |
|:---|:---|
| **Annual Charge for IPR 5.0**<br> (calculated as an annualized percentage of the amount that is guaranteed under the IPR 5.0, <br> deducted on a quarterly basis)<br>| **Current**<br> **Charge**<br>|
| 7 Year Holding Period | 1.00% |
| 10 Year Holding Period | 0.70% |
| 12 Year Holding Period | 0.70% |
| 13 Year Holding Period | 0.60% |
| 14 Year Holding Period | 0.55% |
| 15 Year Holding Period | 0.50% |
| 20 Year Holding Period | 0.60% |

---

**IPR GUARANTEE PERCENTAGES** 

**The IPR Guarantee Percentages currently applicable for determining the Guaranteed Amount under IPR 5.0 for policies with an application signed on or after February 10, 2025 are:** 

---

| | |
|:---|:---|
| **Holding Period** | **Percentage** |
| 7 Year Holding Period | 100% |
| 10 Year Holding Period | 110% |
| 12 Year Holding Period | 120% |
| 13 Year Holding Period | 120% |
| 14 Year Holding Period | 130% |
| 15 Year Holding Period | 130% |
| 20 Year Holding Period | 150% |

---

**ANNUAL CHARGES FOR IPR RESET ELECTIONS** 

**The current charge for IPR, IPR 2.0, IPR 3.0, and IPR 4.0 Reset elections with a Rider Reset Effective Date on or after May 1, 2019:** 

---

| | |
|:---|:---|
| **Annual Charge for IPR if you elect an IPR Reset (Policies applied for between May 1,** <br> **2015 and April 30, 2016)**<br> (calculated as an annualized percentage of the amount that is guaranteed under the IPR, <br> deducted on a quarterly basis)<br>| **Current**<br> **Charge**<br>|
| 10 Year Holding Period | 1.00% |
| 11 Year Holding Period | 0.85% |
| 12 Year Holding Period | 0.70% |
| 13 Year Holding Period | 0.60% |
| 14 Year Holding Period | 0.55% |
| 15 Year Holding Period | 0.45% |
| 20 Year Holding Period | 0.55% |

---

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

------

---

| | |
|:---|:---|
| **Annual Charge for IPR if you elect an IPR Reset (Policies applied for between May 1,** <br> **2016 and April 30, 2017)**<br> (calculated as an annualized percentage of the amount that is guaranteed under the IPR, <br> deducted on a quarterly basis)<br>| **Current**<br> **Charge**<br>|
| 10 Year Holding Period | 1.00% |
| 11 Year Holding Period | 0.85% |
| 12 Year Holding Period | 0.70% |
| 13 Year Holding Period | 0.60% |
| 14 Year Holding Period | 0.55% |
| 15 Year Holding Period | 0.50% |
| 20 Year Holding Period | 0.60% |

---

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

---

| | |
|:---|:---|
| **Annual Charge for IPR 2.0 if you elect an IPR 2.0 Reset**<br> (calculated as an annualized percentage of the amount that is guaranteed under the IPR 2.0, <br> deducted on a quarterly basis)<br>| **Current**<br> **Charge**<br>|
| 10 Year Holding Period | 1.00% |
| 11 Year Holding Period | 0.85% |
| 12 Year Holding Period | 0.70% |
| 13 Year Holding Period | 0.60% |
| 14 Year Holding Period | 0.55% |
| 15 Year Holding Period | 0.50% |
| 20 Year Holding Period | 0.60% |

---

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

---

| | |
|:---|:---|
| **Annual Charge for IPR 3.0 if you elect an IPR 3.0 Reset**<br> (calculated as an annualized percentage of the amount that is guaranteed under the IPR 3.0, <br> deducted on a quarterly basis)<br>| **Current**<br> **Charge**<br>|
| 10 Year Holding Period | 1.00% |
| 11 Year Holding Period | 0.85% |
| 12 Year Holding Period | 0.70% |
| 13 Year Holding Period | 0.60% |
| 14 Year Holding Period | 0.55% |
| 15 Year Holding Period | 0.50% |
| 20 Year Holding Period | 0.60% |

---

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

---

| | |
|:---|:---|
| **Annual Charge for IPR 4.0 if you elect an IPR 4.0 Reset**<br> (calculated as an annualized percentage of the amount that is guaranteed under the IPR 4.0, <br> deducted on a quarterly basis)<br>| **Current**<br> **Charge**<br>|
| 10 Year Holding Period | 0.70% |
| 12 Year Holding Period | 0.70% |
| 13 Year Holding Period | 0.60% |
| 14 Year Holding Period | 0.55% |
| 15 Year Holding Period | 0.50% |
| 20 Year Holding Period | 0.60% |

---

**The current charge for IPR 5.0 Reset elections (Policies applied for prior to February 10, 2025) with a Rider Reset Effective Date on or after May 1, 2023:** 

------

---

| | |
|:---|:---|
| **Annual Charge for IPR 5.0 if you elect an IPR 5.0 Reset**<br> (calculated as an annualized percentage of the amount that is guaranteed under the IPR 5.0, <br> deducted on a quarterly basis)<br>| **Current**<br> **Charge**<br>|
| 7 Year Holding Period | 0.80% |
| 10 Year Holding Period | 0.70% |
| 12 Year Holding Period | 0.70% |
| 13 Year Holding Period | 0.60% |
| 14 Year Holding Period | 0.55% |
| 15 Year Holding Period | 0.50% |
| 20 Year Holding Period | 0.60% |

---

**The current charge for IPR 5.0 Reset elections (Policies applied for on or after February 10, 2025) with a Rider Reset Effective Date on or after February 10, 2025:** 

---

| | |
|:---|:---|
| **Annual Charge for IPR 5.0 if you elect an IPR 5.0 Reset**<br> (calculated as an annualized percentage of the amount that is guaranteed under the IPR 5.0, <br> deducted on a quarterly basis)<br>| **Current**<br> **Charge**<br>|
| 7 Year Holding Period | 1.00% |
| 10 Year Holding Period | 0.70% |
| 12 Year Holding Period | 0.70% |
| 13 Year Holding Period | 0.60% |
| 14 Year Holding Period | 0.55% |
| 15 Year Holding Period | 0.50% |
| 20 Year Holding Period | 0.60% |

---

**The current charge for the IPR portion (Policies applied for between May 1, 2015 and April 30, 2016) of the IPR + ADBR Package for IPR Reset elections with a Rider Reset Effective Date on or after May 1, 2019** 

---

| | | |
|:---|:---|:---|
| **IPR + ADBR Package** | **IPR + ADBR Package** | **Current Charge**<br> **for the IPR**<br> **portion of the**<br> **IPR + ADBR**<br> **Package**<br>|
| **Annual Charge**<br>(calculated as the sum of (1) the Investment Preservation Rider <br> Charge, calculated as an annualized percentage of the amount <br> guaranteed under the Investment Preservation Rider; and <br> (2) the Annual Death Benefit Reset Rider Charge, calculated as <br> an annualized percentage of the ADBR Reset Value as of the <br> last Policy Anniversary (or as of the Policy Date if within the first <br> Policy Year), and deducted quarterly). | 10 Year Holding Period | 0.95% |
| **Annual Charge**<br>(calculated as the sum of (1) the Investment Preservation Rider <br> Charge, calculated as an annualized percentage of the amount <br> guaranteed under the Investment Preservation Rider; and <br> (2) the Annual Death Benefit Reset Rider Charge, calculated as <br> an annualized percentage of the ADBR Reset Value as of the <br> last Policy Anniversary (or as of the Policy Date if within the first <br> Policy Year), and deducted quarterly). | 11 Year Holding Period | 0.80% |
| **Annual Charge**<br>(calculated as the sum of (1) the Investment Preservation Rider <br> Charge, calculated as an annualized percentage of the amount <br> guaranteed under the Investment Preservation Rider; and <br> (2) the Annual Death Benefit Reset Rider Charge, calculated as <br> an annualized percentage of the ADBR Reset Value as of the <br> last Policy Anniversary (or as of the Policy Date if within the first <br> Policy Year), and deducted quarterly). | 12 Year Holding Period | 0.65% |
| **Annual Charge**<br>(calculated as the sum of (1) the Investment Preservation Rider <br> Charge, calculated as an annualized percentage of the amount <br> guaranteed under the Investment Preservation Rider; and <br> (2) the Annual Death Benefit Reset Rider Charge, calculated as <br> an annualized percentage of the ADBR Reset Value as of the <br> last Policy Anniversary (or as of the Policy Date if within the first <br> Policy Year), and deducted quarterly). | 13 Year Holding Period | 0.55% |
| **Annual Charge**<br>(calculated as the sum of (1) the Investment Preservation Rider <br> Charge, calculated as an annualized percentage of the amount <br> guaranteed under the Investment Preservation Rider; and <br> (2) the Annual Death Benefit Reset Rider Charge, calculated as <br> an annualized percentage of the ADBR Reset Value as of the <br> last Policy Anniversary (or as of the Policy Date if within the first <br> Policy Year), and deducted quarterly). | 14 Year Holding Period | 0.50% |
| **Annual Charge**<br>(calculated as the sum of (1) the Investment Preservation Rider <br> Charge, calculated as an annualized percentage of the amount <br> guaranteed under the Investment Preservation Rider; and <br> (2) the Annual Death Benefit Reset Rider Charge, calculated as <br> an annualized percentage of the ADBR Reset Value as of the <br> last Policy Anniversary (or as of the Policy Date if within the first <br> Policy Year), and deducted quarterly). | 15 Year Holding Period | 0.40% |
| **Annual Charge**<br>(calculated as the sum of (1) the Investment Preservation Rider <br> Charge, calculated as an annualized percentage of the amount <br> guaranteed under the Investment Preservation Rider; and <br> (2) the Annual Death Benefit Reset Rider Charge, calculated as <br> an annualized percentage of the ADBR Reset Value as of the <br> last Policy Anniversary (or as of the Policy Date if within the first <br> Policy Year), and deducted quarterly). | 20 Year Holding Period | 0.50% |

---

------

**PROSPECTUS Dated May 1, 2026** 

**for** 

**New York Life Premier Variable Annuity II** 

**From** 

**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**(a Delaware Corporation)**

**51 Madison Avenue, New York, New York 10010**

**Investing in** 

**NYLIAC Variable Annuity Separate Account–III** 

**NYLIAC Variable Annuity Separate Account–IV** 

This Prospectus describes the individual flexible premium New York Life Premier Variable Annuity II policies issued by New York Life Insurance and Annuity Corporation (NYLIAC). We designed these policies to assist individuals with their long-term retirement planning or other long-term needs. The policies offer flexible premium payments, access to your money through partial withdrawals (some withdrawals may be subject to a surrender charge, federal and state income taxes and/or a 10% federal penalty tax if withdrawn before age 59½), a choice of when Income Payments commence, and a guaranteed death benefit if the Owner dies before Income Payments have commenced. NYLIAC's obligations under the policies are subject to its financial strength and claims-paying ability. Please note that your policy may vary depending on your state. Any material variations are disclosed in the prospectus or in APPENDIX 3–State Variations.

If you are a new investor in the policy, you may cancel your policy within 10 days of delivery of the policy without paying fees or penalties. In some states, this cancellation period may be longer. Upon cancellation, you will receive either (i) a full refund of the amount you paid with your application, or (ii) your policy value (Accumulation Value), less any e-delivery credit. You should review this Prospectus, or consult with your registered representative, for additional information about the specific cancellation terms that apply.

We use a Rate Sheet Prospectus Supplement to describe the current charges and guaranteed amount percentages for certain optional benefits. This Prospectus must be accompanied by the applicable Rate Sheet Prospectus Supplement.

**The Securities and Exchange Commission (SEC) has not approved or disapproved these securities or passed upon the adequacy or accuracy of this Prospectus. Any representation to the contrary is a criminal offense.** 

**The policies are complex investments and involve risks, including potential loss of principal invested. The policies are not short-term investments and are not appropriate for investors who plan or need ready access to withdrawals as some withdrawals could result in surrender charges, taxes and tax penalties, as applicable. The policies are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not federally insured by the FDIC, the Federal Reserve Board, or any other agency.** 

Additional information about certain investment products, including variable annuities, has been prepared by the SEC's staff and is available at www.Investor.gov.

Your premium payments accumulate on a tax-deferred basis. This means your earnings are not taxed until you take money out of your policy, which can be done in several ways. You can invest your premium payments among a Fixed Account, the Dollar Cost Averaging Advantage Account, and up to 18 separate Investment Divisions. Each Investment Division invests exclusively in the shares of a specified corresponding portfolio ("Portfolio"). The Portfolios and the fixed options are listed in **APPENDIX 1A**.

**We do not guarantee the investment performance of the Investment Divisions. Depending on current market conditions, you can make or lose money in any of the Investment Divisions.**

------

**Table of Contents** 

---

| | |
|:---|:---|
|  | **Page** |
| **[Definitions](#xx_ffc42c1b-b223-4a9e-ba63-ecdc6f0b5c8b_1)** | &nbsp;&nbsp; 1 |
| **[Overview Of The Policy](#xx_ad2c8f53-c4e8-4b77-b277-3d46f36b796c_1)** | &nbsp;&nbsp; 5 |
| **[Important Information You Should Consider](#xx_0a1db04c-4b6b-40d8-8dc4-1b127f9ea31f_1)**<br> **[About The Policy](#xx_0a1db04c-4b6b-40d8-8dc4-1b127f9ea31f_1)**<br>| &nbsp;&nbsp; 8 |
| **[Fee Table](#xx_8072efa2-1fb5-49e3-8041-cfcc4ba769c8_1)** | &nbsp;&nbsp; 13 |
| **[Principal Risks of Investing in the Policy](#xx_f7409fac-08fc-4445-92b2-6466db3e487e_1)** | &nbsp;&nbsp; 22 |
| **[Contacting NYLIAC](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_1)** | &nbsp;&nbsp; 25 |
| **[NYLIAC And The Separate Accounts](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_2)** | &nbsp;&nbsp; 26 |
| [New York Life Insurance and Annuity](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_2)<br> [Corporation](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_2)<br>| &nbsp;&nbsp; 26 |
| [The Separate Accounts](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_2) | &nbsp;&nbsp; 26 |
| [The Portfolios](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_2) | &nbsp;&nbsp; 26 |
| [Additions, Deletions, or Substitutions of](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_7)<br> [Investments](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_7)<br>| &nbsp;&nbsp; 31 |
| [Reinvestment](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_7) | &nbsp;&nbsp; 31 |
| **[The Policies](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_7)** | &nbsp;&nbsp; 31 |
| [Selecting the Variable Annuity That's Right for](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_8)<br> [You](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_8)<br>| &nbsp;&nbsp; 32 |
| [Qualified and Non-Qualified Policies](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_8) | &nbsp;&nbsp; 32 |
| [Policy Application and Premium Payments](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_9) | &nbsp;&nbsp; 33 |
| [Accumulation (Savings) Phase](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_10) | &nbsp;&nbsp; 34 |
| [Crediting of Premium Payments](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_10) | &nbsp;&nbsp; 34 |
| [Valuation of Accumulation Units](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_10) | &nbsp;&nbsp; 34 |
| [Tax-Free Section 1035 Exchanges](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_11) | &nbsp;&nbsp; 35 |
| [Your Right to Cancel ("Free Look")](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_11) | &nbsp;&nbsp; 35 |
| [Issue Ages](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_11) | &nbsp;&nbsp; 35 |
| [Transfers](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_12) | &nbsp;&nbsp; 36 |
| [Limits on Transfers](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_13) | &nbsp;&nbsp; 37 |
| [Speculative Investing](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_14) | &nbsp;&nbsp; 38 |
| [Online Service at www.newyorklife.com and](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_15)<br> [through the New York Life Mobile](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_15)<br> [Application](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_15)<br>| &nbsp;&nbsp; 39 |
| [Telephone Transactions](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_15) | &nbsp;&nbsp; 39 |
| [Third Party and Registered Representative](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_16)<br> [Actions](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_16)<br>| &nbsp;&nbsp; 40 |
| [Electronic Delivery](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_17) | &nbsp;&nbsp; 41 |
| **[Records and Reports](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_17)** | &nbsp;&nbsp; 41 |
| [Designation of Beneficiary](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_17) | &nbsp;&nbsp; 41 |
| [Delay of Payments](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_18) | &nbsp;&nbsp; 42 |
| **[Benefits Available Under The Policies](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_20)** | &nbsp;&nbsp; 44 |
| **[Description of Benefits](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_27)** | &nbsp;&nbsp; 51 |
| [The Standard Death Benefit – Death Before](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_27)<br> [Annuity Commencement](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_27)<br>| &nbsp;&nbsp; 51 |
| [Annual Death Benefit Reset Rider](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_29) | &nbsp;&nbsp; 53 |

---

---

| | |
|:---|:---|
|  | **Page** |
| [Investment Preservation Rider (IPR)](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_31) | &nbsp;&nbsp; 55 |
| [IPR Death Benefit](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_34) | &nbsp;&nbsp; 58 |
| [Investment Preservation Rider 2.0 (IPR 2.0)](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_34) | &nbsp;&nbsp; 58 |
| [IPR 2.0 Death Benefit](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_38) | &nbsp;&nbsp; 62 |
| [Investment Preservation Rider 3.0 (IPR 3.0)](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_39) | &nbsp;&nbsp; 63 |
| [IPR 3.0 Death Benefit](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_42) | &nbsp;&nbsp; 66 |
| [Investment Preservation Rider 4.0 (IPR 4.0)](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_44) | &nbsp;&nbsp; 68 |
| [IPR 4.0 Death Benefit](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_47) | &nbsp;&nbsp; 71 |
| [Investment Preservation Rider 5.0 (IPR 5.0)](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_49) | &nbsp;&nbsp; 73 |
| [IPR 5.0 Death Benefit](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_53) | &nbsp;&nbsp; 77 |
| [Living Needs Benefit/Unemployment Rider](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_57) | &nbsp;&nbsp; 81 |
| [Waiver of Surrender Charges for Home Health](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_58)<br> [Care Qualifying Event Rider](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_58)<br>| &nbsp;&nbsp; 82 |
| [The Future Income Rider](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_58) | &nbsp;&nbsp; 82 |
| [Investment Preservation Rider/Annual Death](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_62)<br> [Benefit Reset Rider Package (optional and](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_62)<br> [available only with policies applied for before](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_62)<br> [May 1, 2016)](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_62)<br>| &nbsp;&nbsp; 86 |
| [Automatic Asset Rebalancing](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_62) | &nbsp;&nbsp; 86 |
| [Dollar Cost Averaging Programs](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_62) | &nbsp;&nbsp; 86 |
| [Traditional Dollar Cost Averaging (not](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_63)<br> [available with the investment preservation](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_63)<br> [riders)](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_63)<br>| &nbsp;&nbsp; 87 |
| [The DCA Advantage Account](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_64) | &nbsp;&nbsp; 88 |
| [Interest Sweep](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_65) | &nbsp;&nbsp; 89 |
| [Rate Sheet Prospectus Supplement for the IPR](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_65)<br> [Riders](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_65)<br>| &nbsp;&nbsp; 89 |
| **[Charges And Deductions](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_66)** | &nbsp;&nbsp; 90 |
| [Transaction Expenses](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_66) | &nbsp;&nbsp; 90 |
| [Surrender Charges](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_66) | &nbsp;&nbsp; 90 |
| [Amount of Surrender Charge (Policies](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_67)<br> [applied for on or after May 1, 2019)](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_67)<br>| &nbsp;&nbsp; 91 |
| [Amount of Surrender Charge (Policies](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_67)<br> [applied for before May 1, 2019)](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_67)<br>| &nbsp;&nbsp; 91 |
| [Exceptions to Surrender Charges](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_67) | &nbsp;&nbsp; 91 |
| [Transfer Fees](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_68) | &nbsp;&nbsp; 92 |
| [Payments Returned for Insufficient Funds](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_68) | &nbsp;&nbsp; 92 |
| [Rider Risk Charge Adjustment for IPR, IPR](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_68)<br> [2.0, IPR 3.0, IPR 4.0 or IPR 5.0](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_68)<br> [(Cancellation Charge)](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_68)<br>| &nbsp;&nbsp; 92 |
| [Annual Policy Expenses](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_69) | &nbsp;&nbsp; 93 |
| [Base Contract Charges (M&E Charge)](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_69) | &nbsp;&nbsp; 93 |
| [Administrative Expense – Policy Service](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_70)<br> [Charge](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_70)<br>| &nbsp;&nbsp; 94<br>|

---

i

------

---

| | |
|:---|:---|
|  | **Page** |
| [Optional Benefit Expenses](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_70) | &nbsp;&nbsp; 94 |
| [Charge for the Investment Preservation](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_70)<br> [Rider, Investment Preservation Rider 2.0,](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_70)<br> [Investment Preservation Rider 3.0,](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_70)<br> [Investment Preservation Rider 4.0 and](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_70)<br> [Investment Preservation Rider 5.0](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_70)<br>| &nbsp;&nbsp; 94 |
| [Annual Death Benefit Reset (ADBR) Rider](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_71)<br> [Charge](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_71)<br>| &nbsp;&nbsp; 95 |
| [Investment Preservation Rider/Annual Death](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_71)<br> [Benefit Reset Rider Package Charge](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_71)<br> [(available only with policies applied for](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_71)<br> [before May 1, 2016)](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_71)<br>| &nbsp;&nbsp; 95 |
| [Annual Portfolio Expenses](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_71) | &nbsp;&nbsp; 95 |
| [Group and Sponsored Arrangements](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_72) | &nbsp;&nbsp; 96 |
| [Taxes](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_72) | &nbsp;&nbsp; 96 |
| **[Distributions Under The Policy](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_72)** | &nbsp;&nbsp; 96 |
| [Surrenders and Withdrawals](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_72) | &nbsp;&nbsp; 96 |
| [Surrenders](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_73) | &nbsp;&nbsp; 97 |
| [Partial Withdrawals](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_73) | &nbsp;&nbsp; 97 |
| [Periodic Partial Withdrawals](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_74) | &nbsp;&nbsp; 98 |
| [Hardship Withdrawals](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_74) | &nbsp;&nbsp; 98 |
| [Required Minimum Distributions](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_74) | &nbsp;&nbsp; 98 |
| [Our Right to Cancel](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_75) | &nbsp;&nbsp; 99 |
| [Restrictions Under Code Section 403(b)(11)](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_75) | &nbsp;&nbsp; 99 |
| [Loans](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_75) | &nbsp;&nbsp; 99 |
| **[Annuity Payments (The Income Phase)](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_77)** | &nbsp;&nbsp; 101 |
| [Annuity Commencement Date](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_77) | &nbsp;&nbsp; 101 |
| [Income Payments](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_77) | &nbsp;&nbsp; 101 |
| [Election of Income Payment Options](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_77) | &nbsp;&nbsp; 101 |
| [Proof of Survivorship](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_78) | &nbsp;&nbsp; 102 |
| **[The Fixed Account](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_78)** | &nbsp;&nbsp; 102 |
| [Interest Crediting](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_78) | &nbsp;&nbsp; 102 |
| [Transfers Between the Fixed Account and](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_79)<br> [Investment Divisions or an Asset](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_79)<br> [Allocation Model](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_79)<br>| &nbsp;&nbsp; 103 |
| **[The DCA Advantage Account](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_80)** | &nbsp;&nbsp; 104 |
| **[Federal Tax Matters](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_80)** | &nbsp;&nbsp; 104 |
| [Introduction](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_80) | &nbsp;&nbsp; 104 |
| [Taxation of Annuities in General](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_80) | &nbsp;&nbsp; 104 |
| [3.8 Percent Tax on Certain Investment Income](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_82) | &nbsp;&nbsp; 106 |
| [Partial Section 1035 Exchanges](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_82) | &nbsp;&nbsp; 106 |
| [Inherited Non–Qualified Policies](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_82) | &nbsp;&nbsp; 106 |
| [Qualified Policies](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_83) | &nbsp;&nbsp; 107 |
| [(a) 403(b) Plans.](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_83) | &nbsp;&nbsp; 107 |

---

---

| | |
|:---|:---|
|  | **Page** |
| [(b) Individual Retirement Annuities.](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_84) | &nbsp;&nbsp; 108 |
| [(c) Roth Individual Retirement Annuities.](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_84) | &nbsp;&nbsp; 108 |
| [(d) Inherited Roth IRAs.](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_84) | &nbsp;&nbsp; 108 |
| [(e) Inherited IRAs.](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_84) | &nbsp;&nbsp; 108 |
| [(f) SIMPLE IRAs.](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_85) | &nbsp;&nbsp; 109 |
| [Taxation of Death Benefits](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_86) | &nbsp;&nbsp; 110 |
| **[Distribution and Compensation](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_86)**<br> **[Arrangements](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_86)**<br>| &nbsp;&nbsp; 110 |
| **[Additional Information about Risks](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_86)** | &nbsp;&nbsp; 110 |
| [Information System Failures and Cybersecurity](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_86)<br> [Risks](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_86)<br>| &nbsp;&nbsp; 110 |
| [Risks from Serious Infectious Disease](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_87)<br> [Outbreaks](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_87)<br>| &nbsp;&nbsp; 111 |
| **[Legal Proceedings](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_88)** | &nbsp;&nbsp; 112 |
| **[Voting Rights](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_88)** | &nbsp;&nbsp; 112 |
| **[Financial Statements](#xx_3d006a4e-d2a2-43b8-886a-e681e02145ad_88)** | &nbsp;&nbsp; 112 |
| [Appendix](#xx_bb026200-444c-45d2-ac69-7367f42847a7_1)[1A](#xx_bb026200-444c-45d2-ac69-7367f42847a7_1) | &nbsp;&nbsp; 1A<br> -1<br>|
| [Investment Options Available Under the Policy](#xx_bb026200-444c-45d2-ac69-7367f42847a7_1) | &nbsp;&nbsp; 1A<br> -1<br>|
| [Appendix](#xx_192d59c2-c6b6-4693-9e50-6b6986afd604_1)[1B](#xx_192d59c2-c6b6-4693-9e50-6b6986afd604_1) | &nbsp;&nbsp; 1B<br> -1<br>|
| [Investment Divisions, Model Portfolios and](#xx_192d59c2-c6b6-4693-9e50-6b6986afd604_1)<br> [Asset Allocation Models available with IPR](#xx_192d59c2-c6b6-4693-9e50-6b6986afd604_1)<br> [and IPR 2.0](#xx_192d59c2-c6b6-4693-9e50-6b6986afd604_1)<br>| &nbsp;&nbsp; 1B<br> -1<br>|
| [Appendix](#xx_9ef3f596-c9b3-4956-98ca-11ce1a4663f0_1)[1C](#xx_9ef3f596-c9b3-4956-98ca-11ce1a4663f0_1) | &nbsp;&nbsp; 1C<br> -1<br>|
| [Model Portfolios, Investment Divisions and](#xx_9ef3f596-c9b3-4956-98ca-11ce1a4663f0_1)<br> [Asset Allocation Models available with IPR](#xx_9ef3f596-c9b3-4956-98ca-11ce1a4663f0_1)<br> [3.0; IPR 4.0 (12–15 and 20–year Holding](#xx_9ef3f596-c9b3-4956-98ca-11ce1a4663f0_1)<br> [Period options) and IPR 5.0 (10-year](#xx_9ef3f596-c9b3-4956-98ca-11ce1a4663f0_1)<br> [Holding Period option for policies with an](#xx_9ef3f596-c9b3-4956-98ca-11ce1a4663f0_1)<br> [application signed on or after May 1, 2025;](#xx_9ef3f596-c9b3-4956-98ca-11ce1a4663f0_1)<br> [12–15 and 20–year Holding Period options)](#xx_9ef3f596-c9b3-4956-98ca-11ce1a4663f0_1)<br>| &nbsp;&nbsp; 1C<br> -1<br>|
| [Appendix](#xx_b0f063dd-9054-4da3-aeef-04fa2d2bc7dd_1)[1D](#xx_b0f063dd-9054-4da3-aeef-04fa2d2bc7dd_1) | &nbsp;&nbsp; 1D<br> -1<br>|
| [Model Portfolios, Investment Divisions and](#xx_b0f063dd-9054-4da3-aeef-04fa2d2bc7dd_1)<br> [Asset Allocation Models available with IPR](#xx_b0f063dd-9054-4da3-aeef-04fa2d2bc7dd_1)<br> [4.0 (10-year Holding Period option) and IPR](#xx_b0f063dd-9054-4da3-aeef-04fa2d2bc7dd_1)<br> [5.0 (7-year Holding Period option; 10–year](#xx_b0f063dd-9054-4da3-aeef-04fa2d2bc7dd_1)<br> [Holding Period option for policies with an](#xx_b0f063dd-9054-4da3-aeef-04fa2d2bc7dd_1)<br> [application signed on or before April 30,](#xx_b0f063dd-9054-4da3-aeef-04fa2d2bc7dd_1)<br> [2025)](#xx_b0f063dd-9054-4da3-aeef-04fa2d2bc7dd_1)<br>| &nbsp;&nbsp; 1D<br> -1<br>|
| [Appendix](#xx_ca09501c-7275-4877-ac9e-b7bb7e2dcca8_1)[2](#xx_ca09501c-7275-4877-ac9e-b7bb7e2dcca8_1) | &nbsp;&nbsp; 2<br> -1<br>|
| [FIR AVAILABILITY BY PLAN TYPE](#xx_ca09501c-7275-4877-ac9e-b7bb7e2dcca8_1) | &nbsp;&nbsp; 2<br> -1<br>|
| [Appendix](#xx_902c057d-6039-4127-8981-fa7ddf84d1a1_1)[3](#xx_902c057d-6039-4127-8981-fa7ddf84d1a1_1) | &nbsp;&nbsp; 3<br> -1<br>|
| [State Variations](#xx_902c057d-6039-4127-8981-fa7ddf84d1a1_1) | &nbsp;&nbsp; 3<br> -1<br>|
| [Appendix](#xx_69811cdb-0cd8-4079-8034-62381ce1ad8e_1)[4](#xx_69811cdb-0cd8-4079-8034-62381ce1ad8e_1) | &nbsp;&nbsp; 4<br> -1<br>|
| [HISTORICAL CHARGES AND VALUES FOR](#xx_69811cdb-0cd8-4079-8034-62381ce1ad8e_1)<br> [CERTAIN OPTIONAL BENEFITS](#xx_69811cdb-0cd8-4079-8034-62381ce1ad8e_1)<br>| &nbsp;&nbsp; 4<br> -1 <br>|

---

ii

------

**Definitions**

------

**Accumulation Unit—** An accounting unit we use to calculate the Variable Accumulation Value prior to the Annuity Commencement Date. Each Investment Division of the Separate Account has a distinct variable Accumulation Unit value.

**Accumulation Value—** The sum of the Variable Accumulation Value, the Fixed Account Accumulation Value (if applicable), and the DCA Advantage Account Accumulation Value of a policy.

**ADBR—** Annual Death Benefit Reset Rider.

**ADBR Reset Value—** On the First Policy Anniversary, the ADBR Reset Value is the greater of (a) the Accumulation Value on the first Policy Anniversary or (b) the Return of Premium Death Benefit. The ADBR Reset Value on the second and each subsequent Reset Anniversary is defined as the greater of (a) the Accumulation Value on the current Reset Anniversary or (b) the Reset Value on the prior Reset Anniversary, plus any premium payments applied since the prior Reset Anniversary, less any ADBR Reset Value Proportional Reductions since the prior Reset Anniversary.

**ADBR Reset Value Proportional Reduction—** An amount equal to the amount withdrawn from the policy after the first policy anniversary (including applicable surrender charges), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the ADBR Reset Value immediately preceding the withdrawal.

**Adjusted Premium Payment—** The total dollar amount of premium payments made under the policy and allocated to the Investment Divisions of the Separate Account and DCA Advantage Account reduced by any withdrawals (including Future Income Purchases, if any) and applicable surrender charges in excess of any gain in the policy.

**Allocation Options —** The Investment Divisions of the Separate Account, any available Asset Allocation Model, the DCA Advantage Account and the Fixed Account.

**Annuitant—** The person or persons named on the Policy Data Page and whose life or lives determine the Income Payments and, if any, Future Income Payments.

**Annuity Commencement Date—** The date on which we are to make the first Income Payment under the policy, which cannot be later than the date you attain age 115.

**Asset Allocation Category(ies)—** A group of Investment Divisions of the Separate Account categorized based on investment risk determined by NYLIAC.

**Asset Allocation Model—** A model portfolio comprised of Investment Divisions of the Separate Account. The Asset Allocation Models are no longer available for new investment. The Asset Allocation Model program was discontinued as of May 1, 2020.

**Base Contract Charge—** Mortality and Expense Risk and Administrative Costs Charge (M&E Charge).

**Beneficiary or beneficiary—** The person or entity having the right to receive the death benefit proceeds set forth in the policy and who is the "designated beneficiary" for purposes of Section 72 of the Code (as defined below).

**Business Day—** Generally, any day on which the New York Stock Exchange (NYSE) is open for trading. Our Business Day ends at 4:00 p.m. Eastern Time or the close of regular trading of the NYSE, if earlier.

**Code—** The Internal Revenue Code of 1986, as amended.

**Consideration—** A premium payment, or a portion thereof and/or, if allowable, a transfer amount from an Investment Division to the Fixed Account.

**Dollar Cost Averaging (DCA) Advantage Account Accumulation Value—** The sum of premium payments allocated to the DCA Advantage Account, plus interest credited on those premium payments, less any transfers and partial withdrawals from the DCA Advantage Account, and less any surrender charges, policy service charges and rider charges deducted from the DCA Advantage Account. The DCA Advantage Account Accumulation Value will never be less than the DCA Advantage Account portion of the Nonforfeiture Value.

**Dollar Cost Averaging (DCA) Advantage Account—** A non-variable Allocation Option to which you may allocate Premium Payments, subject to the limitations described on the Policy Data Page, and from which amounts are

------

transferred to the Investment Divisions proportionally on a monthly basis. The DCA Advantage Account duration is shown on the Policy Data Page. We credit the DCA Advantage Account with a fixed interest rate. The benefits payable under the DCA Advantage Account (including principal and interest) are payable from NYLIAC's general account and are subject to the claims-paying ability of NYLIAC.

**Eligible Designated Beneficiary—** Eligible Designated Beneficiaries include spouses, minor children (until they reach the age of majority), someone who is disabled or chronically ill (including certain trusts for the disabled or chronically ill), or an individual not more than 10 years younger than the original IRA owner or plan participant.

**Fixed Account—** An account that is credited with a fixed interest rate which NYLIAC declares and is not part of the Separate Account. The benefits payable under the Fixed Account (including principal and interest) are payable from NYLIAC's general account and are subject to the claims-paying ability of NYLIAC.

**Fixed Account Accumulation Value—** The sum of premium payments and, if allowable, transfers allocated to the Fixed Account, plus interest credited on those premium payments and, if allowable, transfers, less any transfers and partial withdrawals from the Fixed Account, and less any surrender charges, policy service charges and rider charges assessed on and deducted from the Fixed Account. The Fixed Account Accumulation Value will never be less than the Fixed Account portion of the Nonforfeiture Value.

**Fund—** A mutual fund that has multiple series or Portfolios.

**Future Income Payments—** Fixed periodic income payments that NYLIAC makes through the Future Income Rider (FIR) after the Future Income Start Date.

**Future Income Purchases—** Purchases of future income through the Future Income Rider, through deductions from your Variable Accumulation Value. Future Income Purchases are considered withdrawals for the purposes of calculating the guaranteed amount under the Investment Preservation Rider or the amount of the Standard Death Benefit under the base policy or the Annual Death Benefit Reset Rider.

**Future Income Start Date—** A date selected by you (in accordance with the terms of your policy) once you make your first Future Income Purchase. You can only change your Future Income Start Date one time.

**Good Order—** Good Order is the standard that we apply when we determine whether an instruction is satisfactory. An instruction will be considered in Good Order if it complies with our administrative procedures and is sufficiently complete and clear that we do not need to exercise any discretion to follow such instruction or complete the transaction and that it complies with all relevant laws and regulations. We may delay or reject a request if it is not in Good Order. Good Order means the actual receipt by us of instructions relating to the requested transaction in writing or by other means we then permit (such as by telephone or electronic transmission), along with all forms and other information or documentation necessary to complete the request.

**Holding Period—** A pre-determined Holding Period you select at the time of application for either an Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 or Investment Preservation Rider 5.0. The Holding Periods available for new purchases may change from time to time.

**Holding Period End Date—** The Policy Anniversary corresponding to the end of the Holding Period selected and measured from either (a) the Rider Effective Date or (b) the Rider Reset Effective Date, whichever is later.

**Income Payments—** Periodic payments NYLIAC makes after the Annuity Commencement Date.

**Investment Division—** The variable investment options available under the policy. Each Investment Division invests exclusively in shares of a specified Portfolio.

**IPR/IPR 2.0/IPR 3.0/IPR 4.0/IPR 5.0—** Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 or Investment Preservation Rider 5.0 (collectively, the "investment preservation riders").

**IPR Death Benefit—** The death benefit available with the IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0.

**IPR Guaranteed Amount—** The IPR Guaranteed Amount will equal the IPR Guarantee Percentage of the sum of all premium payments made in the first Policy Year, minus all IPR Guaranteed Amount Proportional Reductions made

------

during the rider Holding Period. The current IPR Guarantee Percentages for new purchases are shown on the Rate Sheet Prospectus Supplement.

**IPR Guarantee Percentage—** The percentage used to calculate the IPR Guaranteed Amount. This percentage is shown on your IPR rider data page. For current percentages applicable to new purchases, please see the Rate Sheet Prospectus Supplement.

**IPR Reset—** For the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0 or Investment Preservation Rider 4.0, as applicable, changing the guaranteed amount to make it equal to either (i) your Accumulation Value on the Policy Anniversary following your request, or (ii) if you choose the 20-year Holding Period, 150% of the Accumulation Value on the Policy Anniversary following your request, both less any applicable reductions. For IPR 5.0, changing the guaranteed amount to make it equal to the IPR Guarantee Percentage of your Policy's Accumulation Value on the Policy Anniversary following your request less any applicable reductions.

**Life Income—Guaranteed Period Payment Option—** The default Income Payment option available under this policy. Monthly payments made under this option are made over the life of the Annuitant(s) with a guarantee of 10 years of payments, even if the Annuitant dies before the 10–year period has expired.

**M&E Charge—** The Mortality and Expense Risk and Administrative Costs Charge. Also referred to as a "Base Contract Charge."

**Non–Qualified Policies—** Policies that are not available for use by individuals in connection with employee retirement plans intended to qualify for special federal income tax treatment under Sections 403(b), 408, and 408A of the Code. Non–Qualified Policies include policies issued for other retirement plans or arrangements, including plans qualifying under Section 401(a) of the Code.

**Nonforfeiture Rate—** The rate used to calculate the Fixed Account and DCA Advantage Account Nonforfeiture Values. This rate, as shown on the Policy Data Page, is equal to the lesser of: a) 3.00%, and b) a rate that is not less than 1.00% and determined by using the six–month average of the five–year Constant Maturity Treasury Rate reported by the Federal Reserve for December through May (for period beginning July 1) and June through November (for period beginning January 1), rounded to the nearest .05%, minus 1.25%.

**Nonforfeiture Value—** The Nonforfeiture Value is equal to 87.50% of the Consideration(s) allocated to the Fixed Account and/or to the DCA Advantage Account accumulated at the Nonforfeiture Rate since the Payment Date or transfer date, minus any amounts withdrawn or transferred from the Fixed Account and/or the DCA Advantage Account, with the remaining amount accumulated at the Nonforfeiture Rate since the date of withdrawal or transfer.

**NYLIAC, we, our or us—** New York Life Insurance and Annuity Corporation.

**Owner (you, your)—** The individual(s) or entity(ies) designated as the Owner in the policy, or as subsequently changed after issue, who is entitled to exercise all rights under the policy.

**Payee—** The individual designated to receive Income Payments under the policy or the Future Income Rider.

**Payment Date—** The Business Day on which we receive a premium payment at the address specified in this Prospectus to receive such payment.

**Payment Year(s)—** With respect to any premium payment, the year(s) beginning on the date such premium payment is made to the policy.

**Policy Anniversary—** An anniversary of the Policy Date shown on the Policy Data Page.

**Policy Data Page—** Page 2 of the policy which contains the policy specifications.

**Policy Date—** The date from which we measure Policy Years, quarters, months, and Policy Anniversaries. It is shown on the Policy Data Page.

**Policy Year—** A year starting on the Policy Date. Subsequent Policy Years begin on each Policy Anniversary, unless otherwise indicated.

**Portfolios —** The mutual fund portfolios in which the corresponding Investment Divisions invest.

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**Qualified Policies—** Policies for use by individuals under employee retirement plans that are intended to qualify for special federal income tax treatment under Sections 403(b), 408, and 408A of the Code. Qualified Policies do not include policies issued for any other retirement plans or arrangements, including plans qualifying under Section 401(a) of the Code.

**Rate Sheet Prospectus Supplement—** A supplement to this Prospectus that lists current charges, guaranteed amount percentages, and holding periods for certain optional benefits.

**Return of Premium Death Benefit—** The total dollar amount of premium payments made under this Policy reduced by any Return of Premium Death Benefit Proportional Withdrawals.

**Return of Premium Death Benefit Proportional Withdrawal—** An amount equal to the amount withdrawn from this Policy (including any amount withdrawn that may include surrender charges), divided by this Policy's Accumulation Value immediately preceding the withdrawal, multiplied by the Return of Premium Death Benefit immediately preceding the withdrawal.

**Rider Effective Date—** The date on which the IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 Rider, as applicable, is effective and the date from which the Holding Period End Date is measured. This date is stated on the rider Data Page. After an IPR Reset, this date is the same as the "Rider Reset Effective Date."

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

**Separate Account—** NYLIAC Variable Annuity Separate Account–III or NYLIAC Variable Annuity Separate Account–IV, each a segregated asset account we established to receive and invest premium payments paid under the policies. The Separate Account's Investment Divisions, in turn, purchase shares of Portfolios.

**Standard Death Benefit—** The death benefit that comes standard under the base policy. For policies issued to policyowners aged 80 or younger, the Standard Death Benefit guarantees that your beneficiaries will receive the greater of: (i) your Accumulation Value; (ii) the Return of Premium Death Benefit; or (iii) the Step-up Death Benefit. For policies issued to policyowners aged 81 to 85, the Standard Death Benefit guarantees that your beneficiaries will receive the greater of: (i) your Accumulation Value; or (ii) the Return of Premium Death Benefit.

**Step–up Death Benefit—** the Accumulation Value as of the Policy Anniversary immediately following the expiration of the Surrender Charge Period for the first premium payment, plus any other premium payments made since that Policy Anniversary, reduced proportionally by any amounts withdrawn from the policy since that Policy Anniversary.

**Surrender Charge Free Amount—** You may withdraw a certain amount from your policy each Policy Year without having to pay a surrender charge on that amount. We call this the Surrender Charge Free Amount. For policies issued to policyowners age 75 and under, the maximum amount you may withdraw without a surrender charge in any given Policy Year is the greatest of either: (i) 10% of your Accumulation Value as of the last Policy Anniversary (10% of the premium payment if the withdrawal is made in the first Policy Year) less any prior surrender charge free withdrawals during the Policy Year; (ii) 10% of your Accumulation Value at the time of withdrawal, less any prior surrender charge free withdrawals during the Policy Year; or (iii) your Accumulation Value less accumulated premium payments. For policyowners age 76-80 who applied for policies prior to May 1, 2022, this percentage is 50%. For policyowners age 76-85 who applied for policies on or after May 1, 2022, this percentage is 25%.

**Surrender Charge Period—** The seven-year period of time during which a partial withdrawal or surrender could be subject to a surrender charge. Each premium payment you make will have its own Surrender Charge Period applicable to that payment.

**Variable Accumulation Value—** The sum of the current Accumulation Unit value(s) for each of the Investment Divisions multiplied by the number of Accumulation Units held in the respective Investment Division.

**VPSC—** The Variable Products Service Center.

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**Overview Of The Policy**

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**Q.** **What is this policy, and what is it designed to do?** 

A. The New York Life Premier Variable Annuity II is designed to assist individuals with their long-term retirement planning or other long-term needs through investments in a variety of Allocation Options during an accumulation (savings) phase of the policy. The policy also offers death benefits to protect your designated beneficiaries. You can also elect to supplement your retirement income by converting your Accumulation Value into a stream of Income Payments (sometimes called annuity payments). This policy is only appropriate if you have a long investment time horizon. It is not intended for people who may need to make early or frequent withdrawals or intend to engage in frequent trading in the Portfolios.

**Q.** **How do I accumulate assets in the policy and receive income from the policy?** 

A. Your policy has two phases:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the accumulation (savings) phase, when you make premium payments to us, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the annuity (income) phase, when we make Income Payments to you.

**<u>Accumulation (Savings) Phase</u>** 

During the accumulation (savings) phase of the policy, you can invest your premium payments in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● a variety of Investment Divisions (you may choose up to 18). Each Investment Division invests in a corresponding (mutual fund) Portfolio, each of which has its own investment strategies, investment adviser(s), expense ratios, and returns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● a Fixed Account option, which offers a guaranteed fixed interest rate for one–year periods; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● a DCA Advantage Account, which transfers amounts automatically to the Investment Divisions you choose in up to six monthly increments and pays you interest on amounts remaining in the DCA Advantage Account.

**<u>Additional information about the Portfolios, the Fixed Account and the DCA Advantage Account is provided in Appendix 1A:</u> *<u>Investment Options Available Under the Policy.</u>*** 

**<u>Annuity (Income) Phase</u>** 

You can elect to annuitize your policy and turn your Accumulation Value into a fixed stream of Income Payments (sometimes called annuity payments) from NYLIAC. If you do that, we will make payments over the life of the Annuitant (s) for 10 years, even if the Annuitant dies sooner. This is called the Life Income – Guaranteed Period Payment Option. We may offer other options, at our discretion, where permitted by state law. We do not currently offer variable Income Payment options.

Please note that when you annuitize your policy, your Accumulation Value will be converted to Income Payments and you may no longer withdraw money at will from your policy. However, you may elect partial annuitization and apply a portion of your Accumulation Value towards one of the Income Payment options we may offer, while the remainder of the policy can remain invested in your Allocation Options and will continue to provide the opportunity to accumulate Accumulation Value on a tax-deferred basis. All benefits (including guaranteed minimum death benefits and living benefits) terminate when you annuitize your entire Accumulation Value.

**Q.** **What are the policy's primary features and options?** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.**Base Contract Charge (M&E Charge) options.** You can choose to have your Mortality and Expense Risk and Administrative Costs Charge ("M&E Charge") assessed based on either the Accumulation Value of the policy (which invests in Separate Account III) or your Adjusted Premium Payments (which invests in Separate Account IV). You must choose your M&E Charge option at the time of application. The M&E Charge assessed to your policy will be based on the option that you choose. Once the M&E Charge option is chosen it cannot be changed. For Accumulation Value-based M&E Charge policies, the M&E Charge is assessed based on the Accumulation Value of the policy and will vary with fluctuations in the policy's Accumulation Value. For Premium-based M&E Charge policies, the M&E Charge is assessed based on your Adjusted Premium Payments and will not vary with

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fluctuations in the policy's Accumulation Value. Please see "CHARGES AND DEDUCTIONS—Annual Policy Expenses—Base Contract Charges (M&E Charge)" for more information.

The amount of Premium-based M&E Charges deducted from your Accumulation Value will be unaffected by fluctuations in market performance. In a rising market, the Premium-based M&E Charge structure will benefit you because, when calculated as a percentage of separate account assets, the Premium-based M&E Charge will be reduced. In a flat or declining market, the Premium-based M&E Charge will result in a higher charge when calculated as a percentage of separate account assets. The amount of Accumulation Value-based M&E Charges assessed to your policy will be affected by fluctuations in market performance. However, the Accumulation Value-based M&E Charge structure may be more advantageous in a flat or declining market.

**Accessing your money.** Until you annuitize (begin Income Payments), you have full access to your money. You can choose to withdraw part or all of your Accumulation Value at any time (through partial withdrawals, periodic partial withdrawals, hardship withdrawals or surrendering the policy). See "ANNUITY PAYMENTS (THE INCOME PHASE)— Annuity Commencement Date." However, if you withdraw more than the Surrender Charge Free Amount during the Surrender Charge Period before age 59½, you may have to pay a surrender charge and/or taxes, including tax penalties (see "CHARGES AND DEDUCTIONS—Transaction Expenses—Exceptions to Surrender Charges").

**Tax treatment.** Your premium payments accumulate on a tax-deferred basis. This means your earnings are not taxed until you take money out of your policy, such as when (1) you make a withdrawal; (2) you receive an Income Payment from the policy; or (3) upon payment of a death benefit.

**Loans—TSA plans/Accumulation Value–based M&E Charge policies only.** You may be able to borrow some of your Accumulation Value subject to certain conditions only if you (i) purchased your policy in connection with a 403(b) (TSA) plan, and (ii) chose to have your M&E charges based on the Accumulation Value of your policy.

**Death benefits.** Your policy includes a Standard Death Benefit. For policies issued to policyowners aged 80 or younger, the Standard Death Benefit guarantees that your beneficiaries will receive the greater of: (i) your Accumulation Value; (ii) the Return of Premium Death Benefit; or (iii) the Step-up Death Benefit. For policies issued to policyowners aged 81 to 85, the Standard Death Benefit guarantees that your beneficiaries will receive the greater of: (i) your Accumulation Value; or (ii) the Return of Premium Death Benefit. For an additional fee, you can also purchase the ADBR or IPR 5.0 at the time of application. The ADBR or IPR 5.0 may increase the amount of money payable to your designated beneficiaries upon your death. These riders are only available when you apply(ied) for your policy. (See DESCRIPTION OF BENEFITS – Annual Death Benefit Reset Rider and Investment Preservation Rider 5.0 for more information about the ADBR and IPR 5.0 Death Benefit calculations.).

**Optional benefits that occur during your lifetime.** For an additional fee, you can purchase an investment preservation rider at the time of application that protects your investment from declining markets, for a specified Holding Period (Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 or Investment Preservation Rider 5.0 (collectively, the "investment preservation riders")). Policies that were applied for prior to May 1, 2017 also included a Future Income Rider that enables you to purchase a stream of guaranteed lifetime income to help protect you from outliving your assets (not included with certain qualified plans).

**Living Needs Benefit/Unemployment benefit.** At no additional charge, we currently include a Living Needs Benefit/Unemployment Rider with all policies. This benefit increases the amount that can be withdrawn from your policy without a surrender charge when certain qualifying events occur.

**Waiver of Surrender Charges for Home Health Care Benefit.** At no additional charge, we include a Waiver of Surrender Charges for Home Health Care Rider with all policies issued after May 1, 2022 to owners who are age 76 or greater. This benefit waives surrender charges if you begin receiving home health care services from a licensed home health care provider, for at least 60 days during the six month period immediately preceding the partial withdrawal or surrender. Before you are entitled to benefits under this rider, the policy must have been in force for at least one Policy Year and have a minimum Accumulation Value of $5,000.

**Automatic asset rebalancing and dollar cost averaging.** At no additional charge, you may select automatic asset rebalancing, which automatically rebalances your value in the Investment Divisions to maintain your chosen percentage allocation. Also, at no additional charge, you may select either (i) traditional dollar cost averaging,

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which automatically transfers a specific amount of money from any Investment Division to any combination of Investment Divisions and/or Fixed Account at set intervals, or (ii) the DCA Advantage Account, which is an Allocation Option that transfers amounts automatically to the Investment Divisions you choose in up to six monthly increments and pays you interest on amounts remaining in the account. (You may not elect traditional dollar cost averaging if you have elected automatic asset rebalancing.)

**Interest sweep.** At no additional charge, you may select the interest sweep option which automatically transfers interest earned on the Fixed Account to one or any combination of Investment Divisions or an available Asset Allocation Model.

**Electronic Delivery.** You may elect to receive electronic delivery of current prospectuses related to this policy, as well as other policy-related documents.

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

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| **FEES, EXPENSES AND ADJUSTMENTS** | **LOCATION IN**<br> **PROSPECTUS**<br>|

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| **Are There** <br> **Charges for Early** <br> **Withdrawals?**<br>| **Yes**. If you withdraw more than the Surrender Charge Free Amount <br> from your policy within 7 years following your last premium payment, <br> you will be assessed a surrender charge. The maximum surrender <br> charge is 7% of the amount withdrawn during the first two Payment <br> Years following the premium payment (8% during the first year for <br> policies applied for before May 1, 2019) declining to 0% over that <br> seven-year period. For example, if you make an early withdrawal within <br> the first Payment Year, you could pay a surrender charge of up to <br> $7,000 ($8,000 for policies applied for before May 1, 2019) on a <br> $100,000 investment. The withdrawal amount could be reduced by <br> taxes or tax penalties.<br>| **CHARGES AND** <br> **DEDUCTIONS –** <br> **Transaction** <br> **Expenses** <br> **–Surrender** <br> **Charges**<br> **FEE TABLE**<br>|

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| **Are There** <br> **Transaction** <br> **Charges?**<br>| **Yes**. In addition to surrender charges, we reserve the right to assess a <br> transaction charge if you transfer cash value between investment <br> options more than 12 times a year, or if a premium payment is returned <br> for insufficient funds. A loan processing fee may apply if you take a <br> policy loan. Although we do not currently charge for such transactions, <br> we reserve the right to charge up to $30 per transaction. A Rider Risk <br> Charge Adjustment ("Cancellation Charge") may apply if you <br> discontinue the investment preservation rider.<br>| **CHARGES AND** <br> **DEDUCTIONS** <br> **–Transaction** <br> **Expenses**<br> **FEE TABLE**<br>|

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| **Are There** <br> **Ongoing Fees** <br> **and Expenses?**<br>| **Yes**. The table below describes the fees and expenses that you may <br> pay each year, depending on the investment options and optional <br> benefits you choose. Please refer to your Policy Data Page for <br> information about the specific fees you will pay each year based on the <br> options you have elected.<br>| **CHARGES AND** <br> **DEDUCTIONS** <br> **-Annual Policy** <br> **Expenses; Annual** <br> **Portfolio Expenses;** <br> **Optional Benefit** <br> **Expenses**<br>|

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| **ANNUAL FEE\*** | **MINIMUM** | **MAXIMUM** |  |
| Base contract<sup>1</sup> <br>| 1.00% | 1.30% | **CHARGES AND** <br> **DEDUCTIONS –** <br> **Annual Policy** <br> **Expenses**<br>|
| Portfolio fees and expenses<sup>2</sup> <br>| 0.37% | 1.45% | **CHARGES AND** <br> **DEDUCTIONS –** <br> **Annual Portfolio** <br> **Expenses**<br>|
| Optional benefits available for an <br> additional charge (for a single <br> optional benefit, if elected)<sup>3</sup> <br>| See Rate Sheet <br> Prospectus <br> Supplement<br>| See Rate Sheet <br> Prospectus <br> Supplement<br>| **CHARGES AND** <br> **DEDUCTIONS –** <br> **Optional Benefit** <br> **Expenses** <br>|

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<sup>1</sup> As a percentage of Accumulation Value after the Surrender Charge <br> Period for the initial premium (Minimum Base Contract Charge) and as <br> a percentage of Adjusted Premium Payments during the Surrender <br> Charge Period for the initial premium (Maximum Base Contract Charge <br> plus a percentage attributable to the Annual Policy Service Charge).<br> <sup>2</sup> As a percentage of average net Portfolio assets. The range in fees <br> and expenses is for the year ended December 31, 2025 and will <br> change from year to year.<br> <sup>3</sup>The minimum fee reflects the current charge for the Annual Death <br> Benefit Rider, as an annualized percentage of the amount guaranteed <br> under the rider. The maximum fee reflects the current charge for the <br> Investment Preservation Rider or Investment Preservation Rider 2.0 <br> (10-year holding period), as an annualized percentage of the amount <br> that is guaranteed under the rider.<br> \*Applicable fees may vary depending on purchase date. See FEE <br> TABLE.<br>

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| Because your policy is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your <br> policy, the following table shows the lowest and highest cost you could <br> pay *each year*, based on current charges. This estimate assumes that <br> you do not take withdrawals from the policy, **which could add** <br> **surrender charges that substantially increase costs.** | Because your policy is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your <br> policy, the following table shows the lowest and highest cost you could <br> pay *each year*, based on current charges. This estimate assumes that <br> you do not take withdrawals from the policy, **which could add** <br> **surrender charges that substantially increase costs.** |
| **LOWEST ANNUAL COST**<br>See Rate Sheet Prospectus <br> Supplement<br>| **HIGHEST ANNUAL COST**<br>See Rate Sheet Prospectus <br> Supplement |
| Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Least expensive combination of <br> Base Contract Charges and <br> Portfolio fees and expenses<br>•No optional benefits<br> •No sales charges<br> •No additional purchase <br> payments, transfers or <br> withdrawals<br>| Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Most expensive combination of <br> Base Contract Charges, <br> optional benefits, and Portfolio <br> fees and expenses<br>•No sales charges<br> •No additional purchase <br> payments, transfers or <br> withdrawals |

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|  | **RISKS** | **LOCATION IN** <br> **PROSPECTUS**<br>|
| **Is There a Risk of** <br> **Loss from Poor** <br> **Performance?**<br>| **Yes**. You can lose money by investing in this policy. | **PRINCIPAL RISKS** <br> **OF INVESTING IN** <br> **THE POLICY** <br>|

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| **Is This a** <br> **Short-Term**<br> **Investment?**<br>| **No**. This policy is not designed for short-term investing and is not <br> appropriate for an investor who readily needs access to cash. <br> Surrender charges apply for up to 7 years following your last premium <br> payment. They will reduce the value of your policy if you withdraw <br> money during that time. Withdrawals may also be subject to federal and <br> state income taxes and tax penalties. The benefits of tax deferral and <br> living benefit protections also mean the policy is more beneficial to <br> investors with a long time horizon. If you elect an investment <br> preservation rider, you will not receive a benefit under the rider unless <br> you hold the policy for at least the specified Holding Period applicable <br> to the rider.<br>| **PRINCIPAL RISKS** <br> **OF INVESTING IN** <br> **THE POLICY**<br>|
| **What Are the** <br> **Risks Associated**<br> **with the** <br> **Investment**<br> **Options?**<br>| •An investment in this policy is subject to the risk of poor investment <br> performance and can vary depending on the performance of the <br> variable investment options (e.g., Portfolios) and guaranteed options <br> (e.g., the Fixed Account and DCA Advantage Account) you choose.<br>•Each investment option, including the Fixed Account and DCA <br> Advantage Account, has its own unique risks.<br>•You should review the prospectuses for the available Portfolios and <br> the description in this prospectus of the Fixed Account and the DCA <br> Advantage Account before making an investment decision.<br>| **PRINCIPAL RISKS** <br> **OF INVESTING IN** <br> **THE POLICY**<br>|
| **What Are the** <br> **Risks Related to** <br> **the Insurance** <br> **Company?**<br>| An investment in the policy is subject to the risks related to NYLIAC, <br> including that any obligations, guarantees, and benefits of the policy <br> are subject to the claims-paying ability of NYLIAC. If NYLIAC <br> experiences financial distress, it may not be able to meet its obligations <br> to you. More information about NYLIAC is available upon request from <br> NYLIAC by calling the VPSC at 1-800-598-2019.<br>| **PRINCIPAL RISKS** <br> **OF INVESTING IN** <br> **THE POLICY**<br>|

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|  | **RESTRICTIONS** | **LOCATION IN** <br> **PROSPECTUS**<br>|
| **Are There Limits** <br> **on the** <br> **Investment** <br> **Options?**<br>| **Yes.**<br> •We limit the number of Investment Divisions you may choose. You <br> may allocate premium payments and Accumulation Value to up to 18 <br> separate Investment Divisions, plus the Fixed Account and DCA <br> Advantage Account, some of which may not be available under your <br> policy.<br>•We reserve the right to charge $30 for each transfer when you <br> transfer money between Investment Divisions in excess of 12 times in <br> a Policy Year.<br>•Additional restrictions apply with respect to transfers to and from the <br> Fixed Account and DCA Advantage Account.<br>•We reserve the right to limit transfers in circumstances of frequent <br> transfers or to prevent market timing.<br>•We reserve the right to remove, close, or substitute Portfolios as <br> investment options that are available under the policy.<br>| **THE** <br> **POLICIES—Policy** <br> **Application and** <br> **Premium Payments,** <br> **Transfers, and** <br> **Limits on Transfers**<br>**NYLIAC AND THE** <br> **SEPARATE** <br> **ACCOUNTS—**<br> **Additions,** <br> **Deletions, or** <br> **Substitutions of** <br> **Investments** <br>|

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| **Are There** <br> **Restrictions on** <br> **Policy Benefits?**<br>| **Yes**.<br> •Certain optional benefits limit or restrict the investment options you <br> may select under the policy. We may change these restrictions in the <br> future.<br>•Certain optional benefits may limit withdrawals or other rights under <br> the policy.<br>•Under certain benefits, a withdrawal could reduce the value of a <br> benefit by more than the dollar amount of the withdrawal and/or could <br> terminate the benefit.<br>•You are required to have a minimum Accumulation Value for some <br> optional benefits.<br>•We may modify or discontinue an optional benefit at any time.<br> •Some optional benefits cannot be cancelled without surrendering <br> your policy.<br>•The amount of the death benefit available under certain optional <br> benefits may vary depending on the date of death. Certain optional <br> benefits may offer a lesser death benefit at issue and require that the <br> policy be held for a minimum waiting period before the greater death <br> benefit will be payable. If you die before the end of the minimum <br> waiting period, the death benefit will be less than the greater death <br> benefit available after the minimum waiting period. Additionally, where <br> there is a reset of certain optional benefit riders, a new minimum <br> waiting period will be required before the greater death benefit will be <br> payable. If you die before the end of the new minimum waiting <br> period, the death benefit may be less than the greater death benefit <br> available after the new minimum waiting period.<br>| **DESCRIPTION OF** <br> **BENEFITS**<br>|
|  | **TAXES** | **LOCATION IN** <br> **PROSPECTUS**<br>|
| **What are the** <br> **Policy's Tax**<br> **Implications?**<br>| •Consult with a tax professional to determine the tax implications of <br> an investment in, withdrawals from and surrenders of this policy.<br>•If you purchase the policy through a tax-qualified plan or individual <br> retirement account (IRA), such plan or IRA already provides tax <br> deferral under the Code and there are fees and charges in an annuity <br> that may not be included in such other investments. Therefore, the <br> tax deferral of the policy does not provide additional benefits.<br>•Premiums that are made on a pre-tax basis as well as earnings on <br> your policy are taxed at ordinary income tax rates when you withdraw <br> them, and you may have to pay a 10% penalty tax if you take a <br> withdrawal before age 59½.<br>| **FEDERAL TAX** <br> **MATTERS**<br>|
|  | **CONFLICTS OF INTEREST** | **LOCATION IN** <br> **PROSPECTUS**<br>|
| **How are** <br> **Investment**<br> **Professionals**<br> **Compensated?**<br>| Your registered representative may receive compensation for selling <br> this policy to you, in the form of commissions, asset-based <br> compensation, allowances for expenses, and other compensation <br> programs. Your registered representative may have a financial incentive <br> to offer or recommend this policy over another investment.<br>| **DISTRIBUTION AND** <br> **COMPENSATION** <br> **ARRANGEMENTS** <br>|

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| **Should I** <br> **Exchange My** <br> **Policy?**<br>| Your registered representative may have a financial incentive to offer <br> you a new policy in place of the one you own. You should consider <br> exchanging your policy if you determine, after comparing the features, <br> fees, risks of both policies, and any fees or penalties to terminate the <br> existing policy, that it is in your best interest to purchase the new policy <br> rather than continue to own your existing policy.<br>| **THE POLICIES –** <br> **Tax-Free** <br> **Section 1035** <br> **Exchanges;**<br> **Selecting the** <br> **Variable Annuity** <br> **That's Right for You**<br>|

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**Fee Table**

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**The following tables describe the fees and expenses that you will pay when buying, owning, making withdrawals from, or surrendering the policy. Please refer to your Policy Data Page for information about the specific fees you will pay each year based on the options you have elected.** 

**The first table describes the fees and expenses that you will pay at the time that you buy the policy, surrender, or make withdrawals from the policy, or transfer Accumulation Value between investment options. State premium taxes may also be deducted.**

**<u>Transaction Expenses</u>**

Surrender Charges (as a percentage of amount withdrawn). Applied to amounts in excess of the Surrender Charge Free Amount that you may withdraw each Policy Year.

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Payment Year** | **1** | **2** | **3** | **4** | **5** | **6** | **7** | **8+** |
| Surrender Charge (Policies Applied For <br> On Or After May 1, 2019)<br>| 7.00% | 7.00% | 6.00% | 5.00% | 4.00% | 3.00% | 2.00% | 0.00% |

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

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Payment Year** | **1** | **2** | **3** | **4** | **5** | **6** | **7** | **8+** |
| Surrender Charge (Policies Applied For <br> Before May 1, 2019)<br>| 8.00% | 7.00% | 6.00% | 5.00% | 4.00% | 3.00% | 2.00% | 0.00% |

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

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| | | |
|:---|:---|:---|
| **Other Transaction Charges** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| Transfer Fee (charged for transfers in excess of 12 in a policy year) | $30 | $0 |
| Payments Returned for Insufficient Funds | $20 | $0 |
| Loan Processing Fee (TSA Plans only) | $25 | $0 |

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

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| | | | |
|:---|:---|:---|:---|
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Rider Risk Charge Adjustment for IPR,** <br> **IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0** <br> **(Cancellation Charge)\*\*\***<br>(one–time charge for cancellation of the <br> IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0; <br> calculated as a percentage of the amount <br> guaranteed) | 7 Year Holding Period\* | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment for IPR,** <br> **IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0** <br> **(Cancellation Charge)\*\*\***<br>(one–time charge for cancellation of the <br> IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0; <br> calculated as a percentage of the amount <br> guaranteed) | 10 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment for IPR,** <br> **IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0** <br> **(Cancellation Charge)\*\*\***<br>(one–time charge for cancellation of the <br> IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0; <br> calculated as a percentage of the amount <br> guaranteed) | 11 Year Holding Period\*\* | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment for IPR,** <br> **IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0** <br> **(Cancellation Charge)\*\*\***<br>(one–time charge for cancellation of the <br> IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0; <br> calculated as a percentage of the amount <br> guaranteed) | 12 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment for IPR,** <br> **IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0** <br> **(Cancellation Charge)\*\*\***<br>(one–time charge for cancellation of the <br> IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0; <br> calculated as a percentage of the amount <br> guaranteed) | 13 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment for IPR,** <br> **IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0** <br> **(Cancellation Charge)\*\*\***<br>(one–time charge for cancellation of the <br> IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0; <br> calculated as a percentage of the amount <br> guaranteed) | 14 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment for IPR,** <br> **IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0** <br> **(Cancellation Charge)\*\*\***<br>(one–time charge for cancellation of the <br> IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0; <br> calculated as a percentage of the amount <br> guaranteed) | 15 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment for IPR,** <br> **IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0** <br> **(Cancellation Charge)\*\*\***<br>(one–time charge for cancellation of the <br> IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0; <br> calculated as a percentage of the amount <br> guaranteed) | 20 Year Holding Period | 1.00% | 1.00% |

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\* The 7 year Holding Period is only available with applications signed on or after November 13, 2023.

\*\* 11 year Holding Period is not available with IPR 4.0 and IPR 5.0.

\*\*\* Cancellation charge also applies to cancellation of the IPR under the IPR + ADBR Package.

The next table describes the fees and expenses that you will pay each year during the time that you own the policy (not including Portfolio fees and expenses).

If you choose to purchase an optional benefit, you will pay additional charges, as shown below.

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**<u>Annual Policy Expenses</u>**

**Base Contract Charges (Without Optional Benefits)** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Policies with Accumulation**<br> **Value-based Base Contract Charges**<sup>1</sup>  | **Policies with Accumulation**<br> **Value-based Base Contract Charges**<sup>1</sup>  | **Policies with Premium-based**<br> **Base Contract Charges**<sup>2</sup>  | **Policies with Premium-based**<br> **Base Contract Charges**<sup>2</sup>  |
| **Administrative**<br> **Expense**<sup>3</sup><br>| $30 | $30 | $30 | $30 |
| **Base Contract**<br> **Expenses**<sup>4</sup> **for**<br> **Policies**<br> **applied for on or**<br> **after May 1, 2016** | **Guaranteed**<br> **Maximum Charge**<br>| **Current Charge** | **Guaranteed**<br> **Maximum Charge**<br>| **Current Charge** |
| **Base Contract**<br> **Expenses**<sup>4</sup> **for**<br> **Policies**<br> **applied for on or**<br> **after May 1, 2016** | 1.30%<br>(During the <br> Surrender Charge <br> Period for the initial <br> premium)<br>| 1.20%<br>(During the <br> Surrender Charge <br> Period for the initial <br> premium)<br>| 1.50%<br>(During the <br> Surrender Charge <br> Period for the initial <br> premium)<br>| 1.30%<br>(During the <br> Surrender Charge <br> Period for the initial <br> premium)<br>|
| **Base Contract**<br> **Expenses**<sup>4</sup> **for**<br> **Policies**<br> **applied for on or**<br> **after May 1, 2016** | 1.10%<br>(After the Surrender <br> Charge Period for the <br> initial premium)<br>| 1.00%<br>(After the Surrender <br> Charge Period for the <br> initial premium)<br>| 1.30%<br>(After the Surrender <br> Charge Period for the <br> initial premium)<br>| 1.10%<br>(After the Surrender <br> Charge Period for the <br> initial premium)<br>|
| **Base Contract**<br> **Expenses**<sup>4</sup> **for**<br> **Policies applied for**<br> **before May 1, 2016** | **Guaranteed** <br> **Maximum Charge**<br>| **Current Charge** | **Guaranteed**<br> **Maximum Charge**<br>| **Current Charge** |
| **Base Contract**<br> **Expenses**<sup>4</sup> **for**<br> **Policies applied for**<br> **before May 1, 2016** | 1.30%<br>(During the <br> Surrender Charge <br> Period for the initial <br> premium)<br>| 1.30%<br>(During the <br> Surrender Charge <br> Period for the initial <br> premium)<br>| 1.50%<br>(During the <br> Surrender Charge <br> Period for the initial <br> premium)<br>| 1.50%<br>(During the <br> Surrender Charge <br> Period for the initial <br> premium)<br>|
| **Base Contract**<br> **Expenses**<sup>4</sup> **for**<br> **Policies applied for**<br> **before May 1, 2016** | 1.10%<br>(After the Surrender <br> Charge Period for the <br> initial premium)<br>| 1.10%<br>(After the Surrender <br> Charge Period for the <br> initial premium)<br>| 1.30%<br>(After the Surrender <br> Charge Period for the <br> initial premium)<br>| 1.30%<br>(After the Surrender <br> Charge Period for the <br> initial premium)<br>|

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As an annualized percentage of daily Variable Accumulation Value.

As an annualized percentage of Adjusted Premium Payments.

We call this fee the "Annual Policy Service Charge" in your policy and elsewhere in the prospectus. This fee is waived for policies that have $100,000 or more of Accumulation Value on a given Policy Anniversary. For policies with IPR 4.0 and IPR 5.0, the annual fee will be waived for the entirety of the policy if your cumulative first year premium(s) are greater than or equal to $25,000.

We call this the "Mortality and Expense Risk and Administrative Costs Charge (M&E)" in your policy and elsewhere in this prospectus.

**<u>Optional Benefit Expenses</u>**

**The following table applies to Optional Benefits currently available for purchase:** 

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| | | | |
|:---|:---|:---|:---|
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge for IPR 5.0\*\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 7 Year Holding Period\* | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge for IPR 5.0\*\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge for IPR 5.0\*\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge for IPR 5.0\*\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge for IPR 5.0\*\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge for IPR 5.0\*\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge for IPR 5.0\*\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after February 10, 2025 (for** <br> **policies applied for on or after** <br> **February 10, 2025)**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 7 Year Holding Period\* | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after February 10, 2025 (for** <br> **policies applied for on or after** <br> **February 10, 2025)**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after February 10, 2025 (for** <br> **policies applied for on or after** <br> **February 10, 2025)**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after February 10, 2025 (for** <br> **policies applied for on or after** <br> **February 10, 2025)**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after February 10, 2025 (for** <br> **policies applied for on or after** <br> **February 10, 2025)**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after February 10, 2025 (for** <br> **policies applied for on or after** <br> **February 10, 2025)**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after February 10, 2025 (for** <br> **policies applied for on or after** <br> **February 10, 2025)**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2023 (for policies** <br> **applied for before February 10, 2025)**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 7 Year Holding Period\* | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2023 (for policies** <br> **applied for before February 10, 2025)**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2023 (for policies** <br> **applied for before February 10, 2025)**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2023 (for policies** <br> **applied for before February 10, 2025)**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2023 (for policies** <br> **applied for before February 10, 2025)**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2023 (for policies** <br> **applied for before February 10, 2025)**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2023 (for policies** <br> **applied for before February 10, 2025)**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Death Benefit Reset Rider (ADBR) Charge**<br>(calculated as an annualized percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the Policy Date if within the first Policy <br> Year), deducted on a quarterly basis; for a detailed explanation of the term <br> "ADBR Reset Value," see "DESCRIPTION OF BENEFITS – Annual Death <br> Benefit Reset (ADBR) Rider"). | **Annual Death Benefit Reset Rider (ADBR) Charge**<br>(calculated as an annualized percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the Policy Date if within the first Policy <br> Year), deducted on a quarterly basis; for a detailed explanation of the term <br> "ADBR Reset Value," see "DESCRIPTION OF BENEFITS – Annual Death <br> Benefit Reset (ADBR) Rider"). | 1.00% | 0.25% |

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\* The 7 year Holding Period is only available with applications signed on or after November 13, 2023

\*\*For IPR Guarantee Percentages for IPR 5.0 for policies with an application signed prior to February 10, 2025, see APPENDIX 4.

**The following table applies to Optional Benefits that are no longer available for purchase:** 

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| | | | |
|:---|:---|:---|:---|
| **IPR (Policies applied for between May 1, 2015 and April 30, 2016)** | **IPR (Policies applied for between May 1, 2015 and April 30, 2016)** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | 1.10% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 11 Year Holding Period | 2.00% | 0.85% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.65% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.40% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.30% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.50% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 11 Year Holding Period | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |

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\* For Annual Charges for IPR resets with a Rider Reset Effective Date prior to May 1, 2019, see APPENDIX 4.

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| | | | |
|:---|:---|:---|:---|
| **IPR (Policies applied for between May 1, 2016 and April 30, 2017)** | **IPR (Policies applied for between May 1, 2016 and April 30, 2017)** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | 1.35% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 11 Year Holding Period | 2.00% | 1.10% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.95% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.75% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.65% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.55% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.70% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 11 Year Holding Period | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |

---

\* For Annual Charges for IPR resets with a Rider Reset Effective Date prior to May 1, 2019, see APPENDIX 4.

------

---

| | | | |
|:---|:---|:---|:---|
| **IPR 2.0 (Policies applied for between May 1, 2017 and November 12,** <br> **2017)** | **IPR 2.0 (Policies applied for between May 1, 2017 and November 12,** <br> **2017)** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | 1.35% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 11 Year Holding Period | 2.00% | 1.10% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.95% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.75% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.65% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.55% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.70% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 11 Year Holding Period | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |

---

\* For Annual Charges for IPR 2.0 resets with a Rider Reset Effective Date prior to May 1, 2019, see APPENDIX 4.

---

| | | | |
|:---|:---|:---|:---|
| **IPR 2.0 (Policies applied for between November 13, 2017 and April 30,** <br> **2018)** | **IPR 2.0 (Policies applied for between November 13, 2017 and April 30,** <br> **2018)** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | 1.15% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 11 Year Holding Period | 2.00% | 1.00% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.85% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.60% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 11 Year Holding Period | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |

---

\* For Annual Charges for IPR 2.0 resets with a Rider Reset Effective Date prior to May 1, 2019, see APPENDIX 4.

------

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| | | | |
|:---|:---|:---|:---|
| **IPR 3.0** | **IPR 3.0** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | 1.15% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 11 Year Holding Period | 2.00% | 1.00% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.85% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.60% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elect an IPR 3.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 3.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 11 Year Holding Period | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 3.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 3.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 3.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 3.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 3.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |

---

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

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| | | | |
|:---|:---|:---|:---|
| **IPR 4.0** | **IPR 4.0** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | 0.70% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.55% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.60% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elect an IPR 4.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 4.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 4.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 4.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 4.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 4.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |

---

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

------

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| | | |
|:---|:---|:---|
| **Annual Death Benefit Reset Rider (ADBR) (Purchased prior to May 1,** <br> **2016)**<br>| **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the Policy Date if within the first Policy <br> Year), deducted on a quarterly basis; for a detailed explanation of the term <br> "ADBR Reset Value," see "DESCRIPTION OF BENEFITS––Annual Death <br> Benefit Reset (ADBR) Rider"). | 1.00% | 0.30%<br>*(if the oldest* <br> *Owner was age 65* <br> *or younger when* <br> *the policy was* <br> *issued)*<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the Policy Date if within the first Policy <br> Year), deducted on a quarterly basis; for a detailed explanation of the term <br> "ADBR Reset Value," see "DESCRIPTION OF BENEFITS––Annual Death <br> Benefit Reset (ADBR) Rider"). | 1.00% | 0.35%<br>*(if the oldest* <br> *Owner was age 66* <br> *to 75 inclusive* <br> *when the policy* <br> *was issued)*<br>|

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **IPR + ADBR Package (policies applied for between** <br> **May 1, 2015 and April 30, 2016)** | **IPR + ADBR Package (policies applied for between** <br> **May 1, 2015 and April 30, 2016)** | **Guaranteed**<br> **Maximum**<br> **Combined**<br> **Charge for the**<br> **IPR + ADBR**<br> **Package**<br>| **Current charge**<br> **for IPR portion of**<br> **the IPR + ADBR**<br> **package if you** <br> **elect an IPR** <br> **Reset with a** <br> **Rider Reset** <br> **Effective Date on** <br> **or after May 1,** <br> **2019\***<br>| **Current Charge**<br> **for the ADBR**<br> **portion of the**<br> **IPR + ADBR**<br> **Package**<br>|
| **Annual Charge**<br>(calculated as the sum of (1) the <br> Investment Preservation Rider <br> Charge, calculated as an <br> annualized percentage of the <br> amount guaranteed under the <br> Investment Preservation Rider; <br> and (2) the Annual Death Benefit <br> Reset Rider Charge, calculated as <br> an annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year), and deducted quarterly). | 10 Year Holding <br> Period<br>| 2.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Rates | 0.25% |
| **Annual Charge**<br>(calculated as the sum of (1) the <br> Investment Preservation Rider <br> Charge, calculated as an <br> annualized percentage of the <br> amount guaranteed under the <br> Investment Preservation Rider; <br> and (2) the Annual Death Benefit <br> Reset Rider Charge, calculated as <br> an annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year), and deducted quarterly). | 11 Year Holding <br> Period<br>| 2.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Rates | 0.25% |
| **Annual Charge**<br>(calculated as the sum of (1) the <br> Investment Preservation Rider <br> Charge, calculated as an <br> annualized percentage of the <br> amount guaranteed under the <br> Investment Preservation Rider; <br> and (2) the Annual Death Benefit <br> Reset Rider Charge, calculated as <br> an annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year), and deducted quarterly). | 12 Year Holding <br> Period<br>| 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Rates | 0.25% |
| **Annual Charge**<br>(calculated as the sum of (1) the <br> Investment Preservation Rider <br> Charge, calculated as an <br> annualized percentage of the <br> amount guaranteed under the <br> Investment Preservation Rider; <br> and (2) the Annual Death Benefit <br> Reset Rider Charge, calculated as <br> an annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year), and deducted quarterly). | 13 Year Holding <br> Period<br>| 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Rates | 0.25% |
| **Annual Charge**<br>(calculated as the sum of (1) the <br> Investment Preservation Rider <br> Charge, calculated as an <br> annualized percentage of the <br> amount guaranteed under the <br> Investment Preservation Rider; <br> and (2) the Annual Death Benefit <br> Reset Rider Charge, calculated as <br> an annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year), and deducted quarterly). | 14 Year Holding <br> Period<br>| 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Rates | 0.25% |
| **Annual Charge**<br>(calculated as the sum of (1) the <br> Investment Preservation Rider <br> Charge, calculated as an <br> annualized percentage of the <br> amount guaranteed under the <br> Investment Preservation Rider; <br> and (2) the Annual Death Benefit <br> Reset Rider Charge, calculated as <br> an annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year), and deducted quarterly). | 15 Year Holding <br> Period<br>| 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Rates | 0.25% |
| **Annual Charge**<br>(calculated as the sum of (1) the <br> Investment Preservation Rider <br> Charge, calculated as an <br> annualized percentage of the <br> amount guaranteed under the <br> Investment Preservation Rider; <br> and (2) the Annual Death Benefit <br> Reset Rider Charge, calculated as <br> an annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year), and deducted quarterly). | 20 Year Holding <br> Period<br>| 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Rates | 0.25% |

---

\* For Annual Charges for IPR resets with a Rider Reset Effective Date prior to May 1, 2019, see APPENDIX 4.

**The next table shows the minimum and maximum total operating expenses charged by the Portfolios that you may pay periodically during the time that you own the policy. The expenses may change over time and may be higher or lower in the future. A complete list of Portfolios available under the policy, including their annual expenses, may be found in APPENDIX 1A**.

------

**<u>Annual Portfolio Expenses</u>** 

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| | | |
|:---|:---|:---|
|  | **Minimum** | **Maximum** |
| Expenses that are deducted from the Portfolio assets, including <br> management fees, distribution and/or service (12b-1) fees, and other <br> expenses.<sup>1</sup> <br>|  |  |
| Before fee waivers and expense reimbursements | 0.37% | 1.45% |
| After fee waivers and expense reimbursements<sup>2</sup> <br>| 0.28% | 1.45% |

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Shown as a percentage of average net assets for the fiscal year ended December 31, 2025.

Fee waivers and expense reimbursements are expected to continue through April 30, 2027 and may be terminated at any time thereafter at the option of the Portfolio company.

**<u>Examples</u>**

These Examples are intended to help you compare the cost of investing in the Investment Divisions with the cost of investing in other annuity contracts that offer variable options. These costs include transaction expenses, annual policy expenses and Annual Portfolio Expenses.

These Examples assume all Accumulation Value is allocated to the Investment Divisions. Your costs could differ from those shown below if you invest in the Fixed Account or the DCA Advantage Account.

These Examples assume that you invest $100,000 in the Investment Divisions for the time periods indicated. The Examples also assume that your investment has a 5% return each year, and assumes the most expensive combination of Base Contract Charges, Annual Portfolio Expenses and optional benefits for an additional charge.\* Although your actual costs may be higher or lower, based on these assumptions your costs would be:

**Policies applied for before May 1, 2016:** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Years | Years | Years | Years |
|  | 1 yr | 3 yr | 5 yr | 10 yr |
| If you surrender your policy at the end of the applicable time <br> period:<br>| $11896.08 | $19490.82 | $27088.53 | $46436.64 |

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| | | | | |
|:---|:---|:---|:---|:---|
| If you annuitize at the end of the applicable time period: | $11896.08 | $14036.09 | $23425.77 | $46436.64 |

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| | | | | |
|:---|:---|:---|:---|:---|
| If you do not surrender your policy: | $4672.50 | $14036.09 | $23425.77 | $46436.64 |

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\*Assumes you have elected a policy with premium-based Base Contract charges with both the IPR (10-year Holding Period) and the ADBR.

**Policies applied for between May 1, 2016 and April 30, 2019:** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Years | Years | Years | Years |
|  | 1 yr | 3 yr | 5 yr | 10 yr |
| If you surrender your policy at the end of the applicable time <br> period:<br>| $11664.08 | $18795.15 | $25929.10 | $44138.35 |

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| | | | | |
|:---|:---|:---|:---|:---|
| If you annuitize at the end of the applicable time period: | $11664.08 | $13298.54 | $22218.22 | $44138.35 |

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| | | | | |
|:---|:---|:---|:---|:---|
| If you do not surrender your policy: | $4422.50 | $13298.54 | $22218.22 | $44138.35 |

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\*Assumes you have elected a policy with premium-based Base Contract charges with both the IPR (10-year Holding Period) and the ADBR.

**Policies applied for on or after May 1, 2019:** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Years | Years | Years | Years |
|  | 1 yr | 3 yr | 5 yr | 10 yr |
| If you surrender your policy at the end of the applicable time <br> period:<br>| $10758.88 | $18795.15 | $25929.10 | $44138.35 |

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| | | | | |
|:---|:---|:---|:---|:---|
| If you annuitize at the end of the applicable time period: | $10758.88 | $13298.54 | $22218.22 | $44138.35 |

---

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| | | | | |
|:---|:---|:---|:---|:---|
| If you do not surrender your policy: | $4422.50 | $13298.54 | $22218.22 | $44138.35 |

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\*Assumes you have elected a policy with premium-based Base Contract charges with the IPR 5.0 (20-year Holding Period) and the ADBR.

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**Principal Risks of Investing in the Policy**

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This section is intended to summarize the principal risks of investing in the policy.

**Market Risk.** You can lose money by investing in this policy, including loss of principal. An investment in this policy is subject to the risk of poor investment performance and can vary depending on the performance of the Allocation Options you choose. You bear the risk of any decline in your policy's value resulting from the performance of the Portfolios you have chosen. Amounts allocated to a Portfolio or an Asset Allocation Model are subject to the risks inherent in the securities markets and, specifically, to price fluctuations in the Portfolio's investments. Each investment option (including the Fixed Account) has its own unique risks. For more information about the risks of investing in a particular Portfolio, see that Portfolio's prospectus, which can be found online at https://dfinview.com/NewYorkLife/TAHD/premier-ii. You can also request this information at no cost by calling the VPSC at 1-800-598-2019 or by sending an email request with your name and mailing address to PremierIIProspectus@newyorklife.com. You should review the prospectuses for the available Portfolios before making an investment decision.

**Early Withdrawal Risk.** This policy is not designed for short-term investing and is not appropriate for an investor who needs ready access to cash. Surrender charges apply for up to seven years after your last premium payment. They will reduce the value of your policy if you withdraw money during that time. Withdrawals could substantially reduce or even terminate the benefits available under the policy. Withdrawals may also be subject to federal and state income taxes, and tax penalties if the withdrawal is made before the owner attains age 59½. The benefits of tax deferral and the policy's living benefit protections also mean the policy is better for investors with a long time horizon.

**Policy Benefits Risk.** Certain benefits under the policy are contingent on several conditions being met. If those conditions are not met you may not realize a benefit from the policy or the optional benefits for which you have been charged a fee. For example:

&nbsp;&nbsp;&nbsp;&nbsp;● You may need to take withdrawals which have the potential to substantially reduce or terminate the Standard Death Benefit available under the policy. Withdrawals could reduce the value of the Standard Death Benefit by more than the dollar amount of the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;● The investment preservation riders require that you hold the policy for a certain number of years (the Holding Period) in order to receive an adjustment to your Accumulation Value, if applicable. If you surrender your policy before the Holding Period is over, you will not receive a benefit under the rider. If you take withdrawals during the Holding Period, the benefit provided by your particular investment preservation rider will be reduced proportionally by any such withdrawals. If your Accumulation Value is less than amount guaranteed by your investment preservation rider at the time the withdrawal is requested, the reduction in your guaranteed amount will be greater than the dollar amount withdrawn. Accordingly, under certain circumstances, a withdrawal could reduce the value of the benefit by more than the dollar amount of the withdrawal. In addition, you will only be allowed to allocate your premium payments to certain Allocation Options and the DCA Advantage Account, or you will be limited in the amount you can allocate to the Investment Divisions (based on certain thresholds for Asset Allocation Categories). If you cancel your investment preservation rider, you will be assessed a cancellation charge, which could significantly increase your costs under the policy.

&nbsp;&nbsp;&nbsp;&nbsp;● The IPR Death Benefit that is payable under the investment preservation riders may require that you hold the policy for a certain period of time before the IPR Death Benefit that is payable equals the Guaranteed Amount under the investment preservation riders. If you die prior to the end of that required waiting period, the IPR Death Benefit will be equal to your first policy year premiums less any proportional withdrawals. Additionally, if you elect an IPR Reset, a new waiting period will begin before the Guaranteed Amount is payable as the IPR Death Benefit. If you die prior to the end of the new applicable waiting period, the IPR Death Benefit will be equal to the Accumulation Value as of the Rider Reset Effective Date less any proportional withdrawals. (See DESCRIPTION OF BENEFITS – IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0 for more information on IPR Death Benefit calculations.)

&nbsp;&nbsp;&nbsp;&nbsp;● The Future Income Rider allows you to purchase a future stream of guaranteed income, however there are limits as to the amount of future income that can be purchased and you are subject to an initial waiting period. Additionally, you must make all purchases at least two years before the Future Income Start Date or annuitization of the base policy, whichever comes first.

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

&nbsp;&nbsp;&nbsp;&nbsp;● The Annual Death Benefit Reset Rider only provides a benefit if your policy value increases over time. In addition, withdrawals will reduce the value of the benefits in proportion to the amount of the withdrawal relative to the total policy value at the time of the withdrawal. Accordingly, under certain circumstances, a withdrawal could reduce the value of the ADBR benefit by more than the dollar amount of the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;● The Living Needs Benefit/Unemployment Rider only provides a benefit after the policy has been in force for at least one year and only if a Qualifying Event occurs, and requires a minimum Accumulation Value of $5,000.

&nbsp;&nbsp;&nbsp;&nbsp;● The Waiver of Surrender Charges for Home Health Care Qualifying Event Rider only provides a benefit if you are 76 or older when you purchase the policy and if you receive Home Health Care Services from a Home Health Care Provider for at least 60 days during the 6 months immediately prior to requesting a partial withdrawal or surrender.

**Alternatives to the Policy.** Other policies or investments may provide more favorable returns or benefits than the policy and may have lower fees and expenses.

**Policy Changes and Investment Restrictions Risk.** We reserve the right to limit transfers, and we reserve the right to charge $30 for each transfer when you transfer money to or from the Investment Divisions and the Fixed Account more than 12 times in a Policy Year. We also reserve the right to terminate certain policy features such as dollar cost averaging, Automatic Asset Rebalancing, Asset Allocation Models and Interest Sweep.

There are restrictions that may limit the investments that you may choose if you choose one of the investment preservation riders. Amounts invested in accordance with those restrictions may earn a return that is less than the return you might have earned on those amounts in other Investment Divisions had you not been subject to any investment restrictions. If you have selected one of the investment preservations riders, we may change the permitted Investment Divisions that you may choose.

We may impose limits on the minimum and maximum amounts that you may invest in the policy or other transaction limits that may limit your use of the policy. In addition, we reserve the right to remove Investment Divisions or substitute Portfolios as investment options that are available under the policy.

**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, which we apply to all owners of the policy without exception. (See "THE POLICIES–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

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

A 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 "THE POLICIES–Limits on Transfers" for more information on the risks of frequent trading.)

**Change in Fees and Charges Risk.** Deduction of policy fees and charges (including surrender charges), and optional benefit fees, may result in loss of principal. We reserve the right to increase the fees and charges under the policy and optional benefits up to the maximum guaranteed fees and charges stated on your Policy Data Page.

The amount of premium-based M&E Charges assessed to your policy will be unaffected by fluctuations in market performance. In a rising market, the premium-based M&E Charge structure will benefit the policyowner because the premium-based M&E Charge, when calculated as a percentage of separate account assets, will be reduced. In a flat or declining market, the premium-based M&E Charge structure will result in an increase in the charge when calculated against separate account assets. The amount of Accumulation Value-based M&E Charges assessed to your policy

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will be affected by fluctuations in market performance. However, the Accumulation Value-based M&E Charge structure may be more advantageous in a flat or declining market and disadvantageous in a rising market.

**Change in Rates Risk.**The rate we declare for the Fixed Account may be lower than you would find acceptable. The crediting rate that we declare for the DCA Advantage Account may be lower than what you would find acceptable.

**Adverse Tax Consequences.** There are a number of tax risks that may arise in connection with purchasing the policy. These risks include: (1) the possibility that the Internal Revenue Service ("IRS") may interpret the rules that apply to variable annuities 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 an annuity for federal tax purposes resulting in the loss of favorable tax treatment accorded your policy; and (3) the possibility of a change in the present federal income tax laws that apply to your policy, or of the current interpretations by the IRS, which may change from time to time without notice, and could have retroactive effects regardless of the date of enactment or publication, as the case may be.

**Insurance Company Risks.** Any obligations (including those of the Fixed Account), guarantees, and benefits of the policy are subject to the claims-paying ability of NYLIAC. If NYLIAC experiences financial distress, it may not be able to meet its obligations to you. More information about NYLIAC is available upon request from NYLIAC by calling the VPSC at 1-800-598-2019.

**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, cyberattack/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 "ADDITIONAL INFORMATION ABOUT RISKS (Non-Principal Risks)" for more information.)

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**Contacting NYLIAC**

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***Where do I send written service requests?*** 

Certain service requests, including but not limited to death benefit claims and surrenders, are required to be in writing.

All written service requests (except for subsequent premium payments and loan repayments) must be sent to the NYLIAC Variable Products Service Center ("VPSC") at one of the following addresses:

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| | | |
|:---|:---|:---|
|  | **Regular Mail** | **Express Mail** |
|  | NYLIAC Variable Products Service Center<br> Madison Square Station<br> P.O. Box 922<br> New York, NY 10159<br>| &nbsp;&nbsp; NYLIAC Variable Products Service Center<br> 51 Madison Avenue<br> Floor 3B, Room 0304<br> New York, NY 10010<br>|
| **Death Claim forms may** <br> **also be submitted to** | **Regular Mail** |  |
| **Death Claim forms may** <br> **also be submitted to** | New York Life<br> P.O. Box 130539<br> Dallas, TX 75313–0539<br>|  |

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Subsequent premium payments and loan repayments should be sent to the VPSC at one of the following addresses **(acceptance of subsequent premium payments is subject to our Sales Standards):** 

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| | | |
|:---|:---|:---|
|  | **Regular Mail** | **Express Mail** |
| **Subsequent Premium** <br> **Payments and loan** <br> **repayments**<br>| NYLIAC<br> 75 Remittance Drive<br> Suite 3021<br> Chicago, IL 60675–3021<br>| &nbsp;&nbsp; NYLIAC<br> 5450 N Cumberland Avenue<br> Suite 100<br> Chicago, IL 60656-1422<br>|

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Written service requests will be effective as of the Business Day they are received in Good Order at the VPSC at one of the addresses listed above.

Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion. All service requests must be in Good Order. Please review all service request forms carefully and provide all required information that is applicable to the transaction. If your request is not in Good Order, we will not process it. We will make every reasonable attempt to notify you in writing of this situation. It is important that you inform NYLIAC of an address change so that you can receive important policy statements and other information.

***How do I contact NYLIAC or Submit Service Requests by Telephone or Online?*** 

&nbsp;&nbsp;&nbsp;&nbsp;***a. By Telephone:*** 

Certain service requests, including but not limited to obtaining current unit values may be made by telephone. You may reach our customer service representatives at 1-800-598-2019 on Business Days between the hours of 9:00 a.m. and 6:00 p.m. (Eastern Time).

&nbsp;&nbsp;&nbsp;&nbsp;***b. Online:*** 

Certain service requests, including but not limited to, transferring assets between Allocation Options and e-mailing the Registered Representative, may be made online. For online requests please visit www.newyorklife.com or the New York Life Mobile Application ("mobile application" or "mobile app"), available for download on the Apple App Store and Google Play Store, and enter your username and password. (See "THE POLICIES—Online Service at www.newyorklife.com and through the New York Life Mobile Application").

We make online services available at our discretion. In addition, availability of online services may be interrupted temporarily at certain times. We do not assume responsibility for any loss if the online service should become

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unavailable. E-mail inquiries that are non-transactional may be sent through www.newyorklife.com or the mobile application once they have passed all security protocols to identify the policyowner.

NYLIAC is not liable for any loss, cost or expense for action on instructions from authorized third parties which are believed to be genuine in accordance with our procedures. (See "THE POLICIES*—*Third Party and Registered Representative Actions"). You are responsible for and bear the consequence of their instructions and other actions, including exceeding any limits on transfers, taken by parties acting on your behalf. Transfer requests received after the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time, or received on a non-Business Day, will be priced as of the next Business Day.

**NYLIAC And The Separate Accounts**

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***New York Life Insurance and Annuity Corporation***

The obligations under the policies (including Fixed Account and DCA Advantage Account obligations, death benefits, living benefits, or other benefits available under the policy) are obligations of NYLIAC and are subject to NYLIAC's claims-paying ability and financial strength. NYLIAC's business address is 51 Madison Avenue, New York, NY 10010.

***The Separate Accounts***

Separate Account III and Separate Account IV are segregated asset accounts we established to receive and invest premium payments paid under the policies and allocated to the Investment Divisions. The Investment Divisions, in turn, purchase shares of Portfolios.

Although the assets of the Separate Accounts belong to NYLIAC, these assets are held separately from our other assets. The Separate Accounts' assets may not be used to pay any liabilities of NYLIAC (except to the extent that assets in the Separate Accounts exceed the reserves and other liabilities of that Separate Account). The income, capital gains, and capital losses credited to, or charged against the Separate Accounts reflect the Separate Account's own investment experience and not the investment experience of NYLIAC's other assets. Therefore, the investment performance of the Separate Accounts is entirely independent of the investment performance of the Fixed Account, the DCA Advantage Account and any other separate account of NYLIAC.

NYLIAC is obligated to pay all amounts promised to investors under the policies.

Separate Account III and Separate Account IV are each divided into Investment Divisions, some of which may not be available under your policy. Premium payments allocated to the Investment Divisions are invested solely in the corresponding Portfolios of the relevant Fund. The Portfolios in which the Investment Divisions currently invest are listed in **APPENDIX 1A** of this Prospectus.

***The Portfolios***

The assets of each Portfolio are separate from the others, and each Portfolio has different investment objectives and policies. As a result, each 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. Accumulation Value allocated to the Investment Divisions (including the Asset Allocation) will vary based on the investment experience of the corresponding Portfolio in which the Investment Division invests. There is a risk of loss of the entire amount invested. 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.

**We offer no assurance that any of the Portfolios will attain their respective stated objectives.** 

The Portfolios also may make their shares available to certain other separate accounts funding variable life insurance policies offered by NYLIAC. This is called "mixed funding." The Portfolios also may make their shares available to separate accounts of insurance companies unaffiliated with NYLIAC. This is called "shared funding." Although we do not anticipate any inherent difficulties arising from mixed and shared funding, it is theoretically possible that, due to differences in tax treatment or other considerations, the interests of owners of various policies

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participating in a certain Portfolio might at some time be in conflict. In the event that any material conflicts arise from the use of the Portfolios for mixed and shared funding, we could be required to withdraw from a Portfolio. For more information about the risks of mixed and shared funding, please refer to the relevant Portfolio prospectus.

The 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 manages the NYLIM VP Funds Trust and that was a factor in its selection. Another factor that NYLIAC considers during the selection process is whether the Portfolio or an affiliate of the Fund will compensate NYLIAC for providing administrative, marketing, and support services that would otherwise be provided by the Portfolio, the Portfolio's investment adviser, or its distributor.

We may receive payments or compensation from the Portfolios or their investment advisers, or from other service providers of the Portfolios (who may be affiliates of NYLIAC) in connection with administration, distribution, and other services we provide with respect to the Portfolios and their availability through the policies. These payments may be derived, in whole or in part, from the advisory fee charged by the Portfolio and deducted from Portfolio assets and/or from "Rule 12b-1" fees charged by the Portfolio and deducted from Portfolio assets. These payments are also a factor in our selection of 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 Portfolios. Policyowners, through their indirect investment in the Portfolios, bear the costs of these fees.

The amounts we receive may be substantial, may vary by Portfolio, and may depend on how much policy value is invested in the particular 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 Portfolios held by the Investment Divisions. We also receive compensation under various 12b-1 distribution services arrangements in amounts up to 0.25% annually of the aggregate net asset value of the shares of some of the 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 ("New York Life"), 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.

The Portfolios, along with their respective name, type (e.g., large cap equity fund, bond fund, asset allocation fund), investment adviser (and any sub-adviser(s)), current expenses, and performance are listed in **APPENDIX 1A**. More detailed information about the Portfolios is available in the prospectuses for the Portfolios, which may be amended from time to time and can be found online at https://dfinview.com/NewYorkLife/TAHD/premier-ii. You can also request this information at no cost by contacting your Registered Representative, calling the VPSC at 1-800-598-2019 or by sending an email with your name and mailing address to PremierIIProspectus@newyorklife.com. You should read the Portfolios' prospectuses before deciding how to allocate premium payments to an Investment Division corresponding to a Portfolio.

***Asset Allocation Models***

The Asset Allocation Model program was discontinued as of May 1, 2020. As of May 1, 2020, you may not select an Asset Allocation Model or transfer from one Asset Allocation Model to another Asset Allocation Model. If any portion of your Accumulation Value is currently allocated to an Asset Allocation Model, you may continue to allocate all or a portion of your premium payments to such model. We will not reallocate your Accumulation Value or change your premium allocation instructions in response to these changes unless you direct us to do so. If, however, you transfer your entire allocation out of an Asset Allocation Model, you will not be able to transfer back into that model or transfer to any other Asset Allocation Model.

***Information for Policyowners Currently Allocated to an Asset Allocation Model***

Each Asset Allocation Model was designed to seek to achieve a different investment objective. The Asset Allocation Models are general in nature and are not tailored or personalized for you. The Asset Allocation Models are static but gains and/or losses from the Portfolios in a model will cause the model's original percentages to shift. However,

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amounts allocated to a model will be rebalanced to reflect the model's original percentages using the policy's Automatic Asset Rebalancing ("AAR") feature, unless you opted not to have AAR applied to your policy. (See "DESCRIPTION OF BENEFITS*—*Automatic Asset Rebalancing" for more information.) If you purchased the IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0, and have opted to allocate your premium payments to one of the available Asset Allocation Models, you cannot opt out of rebalancing, and your allocations to an Asset Allocation Model will be rebalanced quarterly to reflect the model's original percentages.

In addition, the Investment Divisions and allocation percentages for your model could change due to events such as mergers, substitutions, liquidations or closures. We will notify you in writing of any such events and seek your instructions on how you want your Accumulation Value or premium payments reallocated.

If you wish to keep your policy's Accumulation Value allocated to an Asset Allocation Model, you should consult with your registered representative, who can help you evaluate whether it continues to be suitable and appropriate for you in light of your financial situation, risk tolerance, time horizon and investment objectives. While the Asset Allocation Models can facilitate asset allocation discussions and decisions between you and your registered representative, we have no discretionary authority or control over your investment decisions.

Rebalancing can cause the Investment Divisions that make up a model to need to undertake efforts to raise cash for money flowing out of the Portfolios or vice versa. In order to raise cash, those Portfolios may need to sell assets at prices lower than otherwise expected, which can hurt Portfolio share prices. Moreover, large outflows of money from the Portfolios may increase the expenses attributable to the assets remaining in the Portfolios. These transactions and expenses can adversely affect the performance of the relevant Portfolios and of the Asset Allocation Models. In addition, these inflows and outflows may cause a Portfolio to hold a large portion of its assets in cash, which could detract from the achievement of the Portfolio's investment objective, particularly in periods of rising market prices. For additional information regarding the risks of investing in a particular Portfolio, see that Portfolio's prospectus.

Asset allocation does not guarantee that your Accumulation Value will increase or protect against losses in a declining market. Tools used to assess your risk tolerance, such as the Client Profile, could be less effective if your circumstances change over time. In addition, an Asset Allocation Model may not perform as intended. Therefore, it may not achieve its investment objective or reduce volatility. When considering whether to remain in an Asset Allocation Model, you should consider your other assets, income and investments in addition to this policy. An Asset Allocation Model may perform better or worse than any single investment option or any other combination of investment options. In addition, the timing of your investment and any rebalancing may affect performance. For additional information regarding the risks of investing in a particular Portfolio within the Asset Allocation Model, see that Portfolio's prospectus.

***Conflicts of Interest Relating to the Asset Allocation Models***

The Asset Allocation Models were designed in 2018 on our behalf by an unaffiliated third-party investment adviser, Franklin Templeton Fund Adviser, LLC ("FTFA"), an indirect, wholly-owned subsidiary of Franklin Resources, Inc. ("Franklin Resources"). FTFA's affiliated subadviser, Franklin Advisers, Inc. (successor by merger to QS Investors, LLC ("QS")), selected the initial composition of each Model Portfolio. The models are referred to herein as the "QS Models." The QS Models are no longer available for new investment. Earlier versions of the models were designed by New York Life Investment Management LLC, an affiliate of NYLIAC and the Investment Advisor to the NYLIM VP Funds Trust (the "NYL Models"). You can get information about each of the Asset Allocation Models by contacting your registered representative.

QS received a fee from NYLIAC to design the QS Models. While the QS Models were designed to offer you a convenient way to work with your registered representative in making allocation decisions, you should be aware that QS was subject to competing interests that may have influenced its design of the QS Models. For example, because QS and FTFA were affiliated with the LVIP ClearBridge Appreciation Fund, QS and FTFA may have benefited from including the LVIP ClearBridge Appreciation Fund in one or more of the QS Models. Payments from NYLIAC to FTFA and QS to design the QS Models may have also influenced QS in its selection of Investment Divisions affiliated with NYLIAC for inclusion in the models. QS considered many factors in selecting Investment Divisions for the QS Models, including, but not limited to, risk and return profile, prior investment performance and underlying fund fees.

New York Life Investment Management LLC ("New York Life Investments") was also subject to competing interests that impacted the composition of the QS Models as well as its design of the NYL Models. For example, because New

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York Life Investments receives fees for advising the NYLIM VP Funds Trust, it benefits from the inclusion of a significant percentage of these Investment Divisions in the QS Models and NYL Models. NYLIM VP Investment Divisions represent such a significant percentage of the QS Models and the NYL Models because they constitute the majority of Investment Divisions offered with the policy and are prevalent among the low – and moderate – risk Investment Divisions that make up those models.

In addition, New York Life Investments may not have included certain non-proprietary Investment Divisions in the NYL Models because their investment profile (e.g., sector-specific concentration or shifting asset composition) was determined to be incompatible with the risk and return profile of those models. Finally, New York Life Investments may have included Investment Divisions in a NYL Model based on asset class exposure and they may have also been selected over Investment Divisions with better past investment performance or lower fees.

As noted above, we receive payments or compensation from the Portfolios or their Investment Advisers, or from other service providers of the Portfolios (who may be affiliates of NYLIAC) in connection with administration, distribution and other services that we provide with respect to the Portfolios and their availability through the policies. The amount of this revenue and how it is computed varies by Portfolio, may be significant, and may create conflicts of interest in the design of the QS Models and the NYL Models.

NYLIAC does not provide investment advice and does not recommend or endorse any Portfolios. NYLIAC is not responsible for choosing the Investment Divisions or the amounts allocated to each. 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.

Certain portfolios, generally referred to as "funds of funds" or "master-feeder arrangements," may invest all or substantially all their assets in portfolios of other funds. In such case, you will indirectly pay fees and expenses at both portfolio 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 cost 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.

Investment decisions should be based on a thorough investigation of all the information regarding the Portfolios that are available to you, including each Portfolio's prospectus, statement of additional information, and annual and semi-annual reports. Other sources, such as the Portfolio's website, provide more current information, including information about any regulatory actions or investigations relating to a Fund or Portfolio. After you select Portfolios for your initial premium, you should monitor and periodically re-evaluate your allocations to determine if they are still appropriate.

***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 can impose these fees, but government money market funds (that invest at least 99.5% of their assets in cash, U.S. government securities and/or repurchase agreements that are secured by cash or

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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, surrenders, withdrawals and benefit payments from the portfolio.

***The Franklin Templeton Model Portfolios – Conflicts of Interest***

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"). FTFA, an indirect wholly-owned subsidiary of Franklin Resources, Inc., created the Model Portfolios for the exclusive use of NYLIAC's variable annuity and variable life insurance policyowners. 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 primarily of the initial class or similar shares of the Portfolios available under your policy (except for (i) Portfolios that are themselves, funds of funds, and (ii) Portfolios that did not agree to sell their shares to the Model Portfolios). However, the Model Portfolios may also invest in noninsurance-dedicated mutual funds and ETFs.

FTFA's affiliated subadviser, Franklin Advisers, Inc. ("Franklin Advisers"), selected the initial composition of each Model Portfolio. Thereafter, Franklin Advisers manages 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 Portfolios available under your policy, the composition of the Underlying Funds available to the Model Portfolios for investment will likewise change. FTFA and Franklin Advisers 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 Franklin Advisers. 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 Franklin Advisers, Franklin Distributors, LLC ("Franklin Distributors"), 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 from Franklin Distributors, 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 Portfolios held directly by the NYLIAC Separate Accounts. (See "NYLIAC AND THE SEPARATE ACCOUNTS*—*The Portfolios" for more information about these payments).

The payments described above are a factor in our selection of the Portfolios, which in turn, are available to the Model Portfolios for investment. Policyowners, through their direct investment in the Model Portfolios and their indirect investment in the Underlying Funds, bear the costs of these fees. However, only FTFA and Franklin Advisers will determine the portion of the Model Portfolios' assets, if any, that are invested in particular Underlying Funds. FTFA and Franklin Advisers 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 unaffiliated Underlying Funds and NYLIAC.

FTFA and Franklin Advisers are also subject to competing interests that may influence their investment decisions with respect to the Model Portfolios. For example, FTFA is the investment manager for both the Model Portfolios and certain of the available Underlying Funds, and receives a management fee from those funds. FTFA and Franklin Advisers, 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 Portfolios that are available to the Model Portfolios for investment.

***Additions, Deletions, or Substitutions of Investments***

NYLIAC retains the right, subject to any applicable law (including any required regulatory approval), to make additions to, deletions from, or substitutions for the Portfolio shares held by any Investment Division. NYLIAC reserves the right to eliminate the shares of any of the Portfolios and to substitute shares of another portfolio of a Fund, or of another registered open-end management investment company.

To the extent required by law, we will not make substitutions of shares attributable to your interest in an Investment Division until you have been notified of the change. This does not prevent the Separate Account from purchasing other securities for other series or classes of policies, or from processing a conversion between series or classes of policies on the basis of requests made by policyowners.

We may establish new Investment Divisions when we determine, in our sole discretion, that marketing, tax, investment, or other conditions so warrant. We will make any new Investment Divisions available to existing policyowners on a basis we determine. We may also eliminate one or more Investment Divisions, if we determine, in our sole discretion, that marketing, tax, investment, or other conditions warrant. Please note that any such changes could affect the performance of your investments.

In the event of any substitution or change in Investment Divisions, NYLIAC may, by appropriate endorsement, change the policies to reflect such substitution or change. We also reserve the right to: (a) operate the Separate Account as a management company under the Investment Company Act of 1940, (b) deregister it under such Act in the event such registration is no longer required, (c) combine it with one or more other separate accounts, and (d) restrict or eliminate the voting rights of persons having voting rights as to the Separate Account as permitted by law.

***Reinvestment***

We automatically reinvest all dividends and capital gain distributions from Portfolios in shares of the distributing Portfolio at their net asset value on the payable date.

**The Policies**

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This is a flexible premium policy, which means additional premium payments can be made. The policy is issued based on the lives of individual Annuitants.

The policies are variable. This means that the Accumulation Value will fluctuate based on the investment experience of the Investment Divisions or available Asset Allocation Model you select, as well as the interest credited on the Fixed Account Accumulation Value and the DCA Advantage Account Accumulation Value. NYLIAC does not guarantee the investment performance of the Separate Account or of the Portfolios. You bear the entire investment risk with respect to amounts allocated to the Investment Divisions of the Separate Account or an Asset Allocation Model. We offer no assurance that the investment objectives of the Investment Divisions or an Asset Allocation Model will be achieved. Accordingly, amounts allocated to the Investment Divisions of the Separate Account or an Asset Allocation Model are subject to the risks inherent in the securities markets and, specifically, to price fluctuations in the Portfolios' investments.

As the Owner of the policy, you have the right to (a) change a revocable Beneficiary, (b) name a new Owner (on Non-Qualified Policies only), (c) receive Income Payments, (d) name a Payee to receive Income Payments, and (e) transfer funds among the Investment Divisions. You cannot lose these rights. However, all rights of ownership cease upon your death. For Inherited IRA policies, Inherited Roth IRA policies and Inherited Non-Qualified policies, ownership changes are not permitted.

The current policyowner of a Non-Qualified Policy (other than an Inherited Non-Qualified policy) has the right to transfer ownership to another person(s) or entity. To transfer ownership, the policyowner must complete our approved "Transfer of Ownership" form in effect at the time of the request. This change, unless otherwise specified by you, will take effect as of the date you signed the form, subject to any payment we made or action we took before we received the form in Good Order. When this change takes effect, all rights of ownership in the Policy will pass to the new Owner. Changing the Owner of the Policy does not change an Annuitant or any Beneficiary. Federal law requires all

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financial institutions to obtain, verify, and record information that identifies each person or entity that becomes the Owner of an existing policy. This means the new policyowner(s) will be required to provide their name, address, date of birth, and other identifying information. To complete a transfer of ownership, the new policyowner(s) may also be required to submit financial and suitability information to conform to our Sales Standards.

Certain provisions of the policies may be different than the general description in this Prospectus, and certain riders and options may not be available, because of legal requirements or restrictions in your state. See your policy for specific variations because any such state variations will be included in your policy or in riders or endorsements attached to your policy. See also "APPENDIX 3 – State Variations" for specific information that may be applicable for your state.

***Selecting the Variable Annuity That's Right for You***

In addition to the policies described in this Prospectus, we offer other variable annuities, each having different features, fees, and charges. Your registered representative can help you decide which is best for you based on your individual circumstances, time horizon, and policy feature preferences.

The availability of optional policy features may increase the cost of the policy. Therefore, when selecting a policy, you should consider what policy features you plan to use within your variable annuity. You should also consider the different surrender charge period associated with each policy in light of the length of time you plan to hold your policy (i.e., your time horizon). If you intend to make multiple contributions to your policy over time, you may want to consider a surrender charge period that is based on the Policy Date. If you intend to make a single contribution or limited contributions over time, you may want to consider a policy with a surrender charge period that is based on each premium payment. In addition to the surrender charges, you should also evaluate the available policy features and the different fees associated with each of the features and of the policy.

If you are considering exchanging an annuity or life insurance policy that you already own for a policy described in this Prospectus, you should be aware that your registered representative could have a financial incentive to offer you a new policy in place of the one you own. NYLIAC has procedures in place designed to ensure that the purchase of a policy is in your best interest. You should only exchange your policy if you determine, after comparing the features, fees, risks of both policies, and any fees or penalties to terminate the existing policy, that it is better for you to purchase the new policy rather than continue to own your existing policy.

You should consider the investment objectives, risks, charges and expenses of an investment carefully before investing. Both the product and underlying fund prospectuses contain this and other information about the variable annuities and underlying investment options. Your registered representative can provide you with prospectuses for one or more of these variable annuities and the underlying funds. Please read the prospectuses carefully before investing.

***Qualified and Non-Qualified Policies***

We designed the policies primarily for the accumulation of retirement savings, and to provide income at a future date by annuitizing the policy or purchasing future income through the Future Income Rider, if available (See "DESCRIPTION OF BENEFITS - The Future Income Rider" below, for more information). We issue both Qualified and Non-Qualified Policies. Both types of policies offer tax-deferred accumulation. You may purchase a Non-Qualified Policy to provide for retirement income other than through a tax-qualified plan. You may purchase a Qualified Policy for use with any one of the tax-qualified plans listed below. Other tax-qualified plan types may be made available in the future. For more information, contact your registered representative.

&nbsp;&nbsp;&nbsp;&nbsp;(1) TSAs purchased by employees of certain tax–exempt organizations and certain state–supported educational institutions, in each case in accordance with the employer's plan document and/or applicable tax requirements (see "FEDERAL TAX MATTERS—Qualified Policies—Important Information Regarding Final Code Section 403(b) Regulations"). We are no longer accepting contributions or issuing new policies for ERISA 403(b) plans;

&nbsp;&nbsp;&nbsp;&nbsp;(2) Section 408 or 408A Individual Retirement Annuities (IRAs), including: IRAs, Roth IRAs, Inherited IRAs, Inherited Roth IRAs, SEP and SIMPLE IRAs.

Please see "FEDERAL TAX MATTERS" for a detailed description of these plans.

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If you are considering the purchase of a Qualified Policy or a Non–Qualified Policy to fund another type of tax– qualified retirement plan, such as a plan qualifying under Section 401(a) of the Code, you should be aware that this policy will fund a retirement plan that already provides tax deferral under the Code and there are fees and charges in an annuity that may not be included in other types of investments. Therefore, the tax deferral of the annuity does not provide additional benefits. However, this annuity is designed to provide certain payment guarantees and features other than tax deferral, some of which may not be available in other investments. These additional features and benefits include:

&nbsp;&nbsp;&nbsp;&nbsp;• A Standard Death Benefit, as explained in this Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;• The option for you to receive a guaranteed stream of Income Payments for life after you have owned the policy for one year.

&nbsp;&nbsp;&nbsp;&nbsp;• The option to purchase a future income stream through a Future Income Rider, (not available for applications signed on or after May 1, 2017).

&nbsp;&nbsp;&nbsp;&nbsp;• A Fixed Account that features a guaranteed fixed interest rate.

&nbsp;&nbsp;&nbsp;&nbsp;• An optional Interest Sweep feature that automatically transfers interest earned on monies in the Fixed Account to Investment Divisions offered under the policy.

&nbsp;&nbsp;&nbsp;&nbsp;• The flexibility to easily transfer money among Investment Divisions in the annuity managed by different investment managers and to have your investment mix automatically rebalanced periodically.

These features are explained in detail in this Prospectus. You should purchase this annuity with tax–qualified money because of the additional features the annuity provides and not for the tax deferral to which the tax–qualified plan is already entitled. You should consult with your tax or legal adviser to determine if the policy is suitable for your tax qualified plan. See APPENDIX 2 for more information about when the policy can be issued under certain types of qualified plans.

***Policy Application and Premium Payments***

To purchase a policy, you must complete an application. Your registered representative will submit your application, along with your initial premium payment, to us at one of our Service Centers (see "CONTACTING NYLIAC"). If the application is in Good Order, we will credit the initial premium payment to the Allocation Options you have selected within two Business Days after we receive it. If we cannot credit the initial premium payment within five Business Days after we receive it because the application is not in Good Order, we will contact you and explain the reason for the delay. Unless you consent to NYLIAC's retaining the initial premium payment and crediting it as soon as the necessary requirements are fulfilled, we will refund the initial premium payment immediately; however, if you paid the initial premium by check, we can delay that refund payment until your check has cleared.

Acceptance of applications is subject to NYLIAC's rules. We reserve the right to reject any application or initial premium payment. Generally, only one policyowner is named. If we issue a jointly owned policy, ownership rights and privileges under the policy must be exercised jointly and benefits under the policy will be paid upon the death of any joint owner. Acceptance of premium payments is subject to our Sales Standards.

You may allocate premium payments in up to 18 of the Investment Divisions, some of which may not be available under your policy, as well as the DCA Advantage Account and the Fixed Account. If in Good Order, we will credit subsequent premium payments to the policy at the close of the Business Day on which they are received by NYLIAC. You may increase or decrease the percentages of the premium payments (which must be in whole number percentages) allocated to each Allocation Option or the DCA Advantage Account at the time a premium payment is made.

If your application is not in Good Order, we will contact you to get the missing information. We will not issue your policy until your application is in Good Order and you give us complete instructions about how to allocate your premium payment, including information about how to allocate the premium payment among the Allocation Options. We will apply any later premium payments according to the allocation instructions we have on file at the time of the premium payment.

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Unless we permit otherwise, the minimum initial premium payment is $5,000 ($10,000 for policies issued in connection with a Pension/Keogh plan). You may make additional premium payments of at least $2,500 for Qualified Policies and $5,000 for Non-Qualified Policies, or such lower amount as we may permit at any time. For policies issued to persons age 75 or younger, additional premiums can be made until the owner reaches age 76. For policies issued to persons age 76 to 85, additional premium payments can be made until the owner reaches age 86. The currently available methods of payment are direct payments to NYLIAC or any other method agreed to by us. The maximum aggregate amount of premium payments we accept is $2,000,000 without prior approval from NYLIAC. The maximum aggregate amount of premiums is $3,000,000 across all New York Life Premier and New York Life Premier II Variable Annuity policies for policies issued to persons age 76 to 85 under the same Social Security or Tax ID number. NYLIAC reserves the right to limit the dollar amount of any premium payment. You must allocate a minimum of $2,000 to the DCA Advantage Account.

For Qualified Policies, you may not make premium payments in any Policy Year that exceed the amount permitted by the plan or applicable law. For Inherited IRAs, Inherited Roth IRAs and Inherited Non-Qualified policies, additional premium payments are not permitted.

While IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 are in effect, you may only make premium payments to your policy in the first Policy Year or after the Holding Period End Date, as applicable.

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

***Accumulation (Savings) Phase***

*Crediting of Premium Payments*

When you purchase your policy, you tell us how to allocate your premium payments. You can allocate a portion of each premium payment to one or more Investment Divisions, one Asset Allocation Model (if you are already allocated to such Model), the DCA Advantage Account, and/or the Fixed Account (if available). The minimum amount that you may allocate to any one Investment Division or the Fixed Account is $25. The minimum amount that you can allocate to an available Asset Allocation Model is $25 per Investment Division. You may also allocate all or a portion of each premium payment to the DCA Advantage Account. The minimum amount that you may allocate to the DCA Advantage Account is $2,000. If you select the DCA Advantage Account, any additional premium payment you make that is $2,000 or more will be allocated automatically to the DCA Advantage Account unless you instruct us otherwise. Any additional premium payment you make that is less than $2,000 will be allocated directly to your Allocation Options in accordance with the instructions we have on file and will not be allocated to the DCA Advantage Account. (See "THE DCA ADVANTAGE ACCOUNT.") We will allocate additional premium payments to the Allocation Options and/or the DCA Advantage Account at the close of the Business Day on which they are received by NYLIAC in Good Order.

We will credit that portion of each premium payment that you allocate to an Investment Division (or to each of the Investment Divisions that make up an Asset Allocation Model), including from a premium payment or transfer, in the form of Accumulation Units. We cancel such Accumulation Units when we remove amounts from that Investment Division, including as a result of a withdrawal, transfer, policy surrender, and certain charges we may deduct. We determine the number of Accumulation Units we credit to a policy or cancel by dividing the dollar amount allocated to or removed from each Investment Division by the Accumulation Unit value for that Investment Division as of the close of the Business Day as of which we are making the credit or removal. The value of an Accumulation Unit will increase or decrease depending on the investment experience of the Portfolio in which the Investment Division invests (including Portfolio expenses), and the deduction of the Accumulation Value–based M&E Charge. We assess all policy and rider fees and charges applicable to Separate Account assets (other than Accumulation Value–based M&E Charges) by reducing the number of Accumulation Units credited to your policy. The number of Accumulation Units we credit to a policy will not, however, change as a result of any fluctuations in the value of an Accumulation Unit. (See "THE FIXED ACCOUNT" for a description of interest crediting.)

*Valuation of Accumulation Units*

The value of Accumulation Units in each Investment Division will change daily to reflect the investment experience of the corresponding Portfolio (including Portfolio expenses) as well as the deduction of the Accumulation Value–based M&E Charge. The Statement of Additional Information contains a detailed description of how we determine the Accumulation Unit values.

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***Tax-Free Section 1035 Exchanges***

Subject to certain restrictions, you can make a tax-free exchange under Section 1035 of the Code of all or a portion of one annuity contract, or all of a life insurance policy for an annuity contract. Section 1035 also provides that an annuity contract may be exchanged in a tax-free transaction for a long-term care insurance policy. Before making an exchange, you should compare both contracts carefully. Remember that if you exchange a life insurance policy or annuity contract for the policy described in this Prospectus:

&nbsp;&nbsp;&nbsp;&nbsp;● you might have to pay a withdrawal charge on your previous policy or contract,

&nbsp;&nbsp;&nbsp;&nbsp;● there will be a new withdrawal charge period for this policy,

&nbsp;&nbsp;&nbsp;&nbsp;● other charges under this policy may be higher (or lower),

&nbsp;&nbsp;&nbsp;&nbsp;● the benefits may be different,

&nbsp;&nbsp;&nbsp;&nbsp;● you will no longer have access to any benefits from your previous policy (or the benefits may be different), and

&nbsp;&nbsp;&nbsp;&nbsp;● access to your cash value following a partial exchange may be subject to tax-related limitations.

If the exchange does not qualify for Section 1035 treatment, you also may have to pay federal income tax, including a 10% federal penalty tax, on the exchange. You should not exchange an existing life insurance policy or another annuity contract for this policy unless you determine that the exchange is in your best interest. NYLIAC may accept electronically transmitted instructions from your registered representative or from another insurance carrier for the purpose of effecting a 1035 exchange. **If you contemplate such an exchange, you should consult a tax advisor to discuss the potential tax effects of such a transaction.**

***Your Right to Cancel ("Free Look")***

You can cancel the policy within 10 days of delivery of the policy or such longer period as required under state law. To cancel your policy, you must return it and/or provide a written request for cancellation to NYLIAC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it. Unless otherwise required by state law you will receive back your Accumulation Value, calculated as of the Business Day we receive your written request for cancellation in Good Order, less any e–delivery credit, (see "THE POLICIES – Electronic Delivery"), but without any deduction for premium taxes or a surrender charge. This amount may be more or less than your premium payments depending upon the performance of the Allocation Options you have chosen to invest in during the Free Look period (including any interest credited by the Fixed Account, if applicable). This means that you bear the risk of any decline in the value of your policy due to investment performance during the Free Look period. In certain states, we are required to give you back your premium payments less any prior partial withdrawals. We will set forth the provision in your policy. See "APPENDIX 3 — State Variations" for more information about free look provisions in particular states (including California, Florida, New York and North Dakota).

If you are entitled to receive the total of premium payments less any prior withdrawals, but your Accumulation Value is higher than that amount as of the date your written request for cancellation is received in Good Order, we will return the Accumulation Value, calculated as set forth above and without deductions for premium taxes or surrender charges.

***Issue Ages***

To purchase a Non–Qualified Policy you must not be older than age 85 (oldest Owner, if the policy is jointly owned). The Owner, or if the policy is owned by an entity, the Annuitant must not be older than age 85 (oldest Annuitant, if the policy has joint Annuitants). For Inherited Non–Qualified policies, the Owner and the Annuitant must be the same individual.

For IRA, Roth IRA, Inherited IRA, Inherited Roth IRA, SIMPLE IRA, TSA and SEP plans, you must also be the Annuitant. We can issue Qualified Policies if you are between the ages of 18 and 85 (between 0–85 for Inherited IRAs and Inherited Roth IRAs).

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For policies issued to persons age 75 or younger, additional premium payments (up to a total of $1 million, including the initial premium payment) can be made until you reach age 76, unless otherwise limited by the terms of a particular plan. For policies issued to persons age 76-85, additional premium payments up to a total of $1 million, including the initial premium payment) can be made until you reach age 86, unless otherwise limited by the terms of a particular plan. The maximum aggregate amount of premium is $3,000,000 across all New York Life Premier and Premier II Variable Annuity policies that are issued to persons age 76 to 85 under the same Social Security or Tax ID number.

To qualify for the above referenced maximum age limits to purchase a policy, the policy application must be signed and received at the VPSC prior to the day the Owner, or if the policy is owned by an entity, the Annuitant becomes age 86. In addition, all funds must be received by the VPSC no later than 60 days from the date the Owner or Annuitant, as applicable, becomes age 86, whichever occurs first. Any funds received after such time will be returned.

*Policies Applied for Prior to May 1, 2022* 

For policies applied for prior to May 1, 2022, the maximum issue age was age 80. For policies issued to persons age 75 or younger, we will accept additional premium payments until you reach age 76, unless otherwise limited by the terms of a particular plan. For policies issued to persons age 76 to 80, additional premium payments (up to a total of $1 million, including the initial premium payment) can be made until you reach age 81, unless otherwise limited by the terms of a particular plan. This amount is aggregate across all New York Life Premier and Premier II Variable Annuity policies that are issued to persons age 76 to 80 under the same Social Security or Tax ID number.

***Transfers***

You may transfer amounts among Investment Divisions of the Separate Account, an Asset Allocation Model if you are already allocated to such model, or to the Fixed Account any time prior to 30 days before the Annuity Commencement Date, although certain restrictions may apply with respect to transfers into the Fixed Account if you have chosen premium-based Base Contract charges, or if you have an investment preservation rider. You may not make transfers into the DCA Advantage Account. If you transfer all of your Accumulation Value out of an Asset Allocation Model, you cannot transfer back into that Asset Allocation Model in the future. Transfers made from the DCA Advantage Account to the Investment Divisions are subject to different limitations (See "THE DCA ADVANTAGE ACCOUNT"). No transfers are allowed from the DCA Advantage Account to the Fixed Account. Except in connection with transfers made pursuant to traditional Dollar Cost Averaging, Automatic Asset Rebalancing, Interest Sweep and the DCA Advantage Account, the minimum amount that you may transfer from one Investment Division to other Investment Divisions, an available Asset Allocation Model or to the Fixed Account is $500. Except for traditional Dollar Cost Averaging, Automatic Asset Rebalancing, Interest Sweep and the DCA Advantage Account, if the value of the remaining Accumulation Units in an Investment Division would be less than $500 or the Fixed Account would be less than $25 after you make a transfer, we will transfer the entire value unless NYLIAC in its discretion determines otherwise. The amount(s) transferred to other Investment Divisions must be a minimum of $25 for each Investment Division.

Currently, we do not charge for transfers under the policy. However, we reserve the right to charge up to $30 for each transfer after the first 12 in a given Policy Year, subject to any applicable state insurance law requirements. Any transfer into or out of an available Asset Allocation Model counts as one transfer. Any transfer made in connection with traditional Dollar Cost Averaging, Automatic Asset Rebalancing, Interest Sweep or the DCA Advantage Account will not count as a transfer toward the twelve-transfer limit. You may make transfers from the Fixed Account to the Investment Divisions in connection with Interest Sweep and in certain other situations. (See "THE FIXED ACCOUNT").

You can request a transfer by any of the three methods listed below. Transfer requests are subject to limitations and must be made in accordance with our established procedures. (See "THE POLICIES—Online Service at www.newyorklife.com and through the New York Life Mobile Application.").

&nbsp;&nbsp;&nbsp;&nbsp;● submit your request in writing on a form we approve to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this prospectus (or any other address we indicate to you in writing);

&nbsp;&nbsp;&nbsp;&nbsp;● speak to a Customer Service Representative at 800-598-2019 on Business Days between the hours of 9:00 a.m. and 6:00 p.m. (Eastern Time); or

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

&nbsp;&nbsp;&nbsp;&nbsp;● make your request through www.newyorklife.com or 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. NYLIAC is not liable for any loss, cost or expense for action based on telephone or electronic instructions which are believed to be genuine in accordance with these procedures. Transfer requests received after the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time or received on a non-Business Day, will be priced as of the next Business Day.

***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; or

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

Currently, if you or someone acting on your behalf requests by telephone and/or electronically transfers into or out of one or more Investment Divisions or an available Asset Allocation Model on three or more days within any 60-day period, we will send you a letter notifying you that the 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 or an Asset Allocation Model 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 in writing through the U.S. mail or an overnight courier and received by the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. 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 out of the NYLIM VP U.S. Government Money Market Investment Division within six months of the issuance of a policy, and transfers made pursuant to traditional Dollar Cost Averaging, the DCA Advantage Account, Interest Sweep, and Automatic Asset Rebalancing.

**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 this 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 Portfolio. We will reject or reverse, without prior notice, any transfer request into an Investment Division if the purchase of shares in the corresponding Portfolio is not accepted by the Portfolio for any reason. For transfers into multiple Investment Divisions and/or an available Asset Allocation Model, the entire transfer request will be rejected or reversed if any part of it is not accepted by any one of the Portfolios or is restricted for any reason. Standing allocation instructions into a Portfolio 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 other 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 Portfolio. We will provide you with written notice of any transfer request we reject, reverse or modify. You should read the Portfolio prospectuses for more details regarding their ability to refuse or restrict purchases or

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redemptions of their shares. In addition, a Portfolio 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The underlying Portfolios may have adopted their own policies and procedures with respect to trading of their respective shares. The prospectuses for the underlying Portfolios, in effect at the time of any trade, describe any such policies and procedures. The trading policies and procedures of an underlying 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 in this prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The purchase and redemption orders received by the Portfolios reflect the aggregation and netting of multiple orders from owners of this policy and other variable policies issued by us. The nature of these combined orders may limit the underlying Portfolios' ability to apply their respective trading policies and procedures. In addition, if an underlying Portfolio believes that a combined order we submit may reflect one or more transfer requests from owners engaged in potentially harmful transfer activity, the underlying fund portfolio may reject the entire order and thereby prevent us from implementing any transfers that day. We do not generally expect this to happen. Alternatively, Portfolios may request information on individual policyowner transactions and may impose restrictions on individual policyowner transfer activity.

&nbsp;&nbsp;&nbsp;&nbsp;● Other insurance companies that invest in the 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 Investment Divisions correspond to the affected 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 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 a Portfolio to liquidate investments prematurely (or at an otherwise inopportune time) in order to pay withdrawals or transfers out of the 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 a Portfolio are made when, and if, the Portfolio's investments do not reflect an accurate value (sometimes referred to as "time-zone arbitrage" and "liquidity arbitrage").

***Speculative Investing***

Do not purchase the policy if you plan to use it, or any of its riders, for speculation, arbitrage, viatication or any other type of collective investment scheme. Your policy may not be traded on any stock exchange or secondary

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market. By purchasing the policy, you represent and warrant that you are not using the policy, or any of its riders, for speculation, arbitrage, viatication or any other type of collective investment scheme.

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

The online service at www.newyorklife.com or through 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 www.newyorklife.com or through the mobile application. Electronic delivery is not available for policies that are owned by corporations, trusts or organizations at this time.

Through www.newyorklife.com or the mobile application you can get up-to-date information about your policy and request fund transfers, allocation changes and partial withdrawals. Policies that are jointly owned may not request transactions through www.newyorklife.com or the mobile application. We may revoke online service for certain policyowners (see "THE POLICIES—Limits on Transfers").

In order to obtain policy information online at www.newyorklife.com or through the mobile application which is available for download on the Apple App Store and Google Play Store, you are required to register for access. You will be required to register a unique Username and Password to gain access

We will use reasonable procedures to make sure that the instructions we receive through www.newyorklife.com or 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 www.newyorklife.com or through the mobile application that we believe are genuine. We will confirm all transactions.

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, online service at www.newyorklife.com or through the mobile application is open Monday through Friday, from 6 a.m. until 4 a.m., Saturday, from 6 a.m. until 2 a.m. and Sunday from 7 a.m. until 1 a.m. (Eastern Time).

By logging in at www.newyorklife.com or through the mobile application, you can conduct a number of transactions. These include managing your allocations, viewing details about your policy, changing your address, submitting policy transactions, uploading documents and forms, and downloading statements and other correspondence. You can see all of the transactions which can be conducted online or through the mobile application by logging in at www.newyorklife.com or through the mobile application.

We make the online service at www.newyorklife.com and through the mobile application available at our discretion. In addition, availability of online service may temporarily be interrupted at certain times. We do not assume responsibility for any loss while online service at www.newyorklife.com or through the mobile application is unavailable. If you are experiencing problems, you can send service requests to us at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

***Telephone Transactions***

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.

Currently, you can reach our customer service representatives at 1-800-598-2019 on Business Days between the hours of 9:00 a.m. and 6:00 p.m. (Eastern Time).

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 and/or by using our Interactive Voice Response (IVR) system:

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

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

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;● set up one-time electronic funds transfer for incoming payments;

&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 in the "CONTACTING NYLIAC" section of the prospectus.

***Third Party and Registered Representative Actions***

You may authorize a third party, including a joint policyowner, to have access to your policy information and to independently make transfers among Investment Divisions and/or the Fixed Account, allocation changes and other permitted transactions by telephone. To do so, you must send the VPSC a Telephone Authorization Form in Good Order to one of the addresses noted in the "CONTACTING NYLIAC" section of this Prospectus. We 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. See "THE POLICIES—Transfers" for information on how to transfer assets between Investment Divisions and/or an available Asset Allocation Model.

You may authorize us to accept electronic instructions from a registered representative or a registered service assistant assigned to your policy in order to make premium allocation updates, transfers among investment options, Automatic Asset Rebalancing (AAR), partial withdrawals and changes to your investment objective and/or risk tolerance. (Your AAR may be cancelled if a premium allocation change or fund transfer is submitted on your behalf and the AAR is not also modified at that time to be consistent with your investment option transfer and premium allocation changes). You may also authorize us to accept telephone instructions from a registered representative to make transfers among investment options as well as updates to premium allocations, take partial withdrawals, cease a periodic partial withdrawal, and update Dollar Cost Averaging (DCA), DCA Advantage (DCAA) and Interest Sweep. To authorize the registered representative(s) or registered service assistants assigned to your policy to make premium allocations, electronic transfers or telephone transfers, you must send a completed Trading and Partial Withdrawal Authorization Form to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. You must provide a separate authorization on that form in order for your registered representative or the registered service assistant assigned to your policy to be able to make electronic or telephone partial withdrawals on your behalf or cease a periodic partial withdrawal. Any partial withdrawal is subject to dollar amount limits that we establish. Not all periodic partial withdrawals can be ceased by your registered representative or their registered service assistant. We may revoke trading authorization privileges for certain policyowners (See "THE POLICIES—Limits on Transfers"). Trading authorization may be elected, changed or canceled 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 action on instructions which are believed to be genuine in accordance with the procedures. As these parties act on your behalf, you are responsible for and bear the consequences of their instructions and other actions, including any limits on transfers.

We may choose to accept forms you have completed that your registered representative transmits to us electronically via our internal secured network. We will accept electronically-transmitted service forms only. For information on how to initiate a transfer between Investment Divisions, or request a withdrawal, please refer to "THE POLICIES––Transfers" or "DISTRIBUTIONS UNDER THE POLICY––Surrenders and Withdrawals––Partial

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Withdrawals." 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.

If you purchase the IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0, there will be limitations on the ability of your registered representative to make certain of the transactions described in the sections that follow.

***Electronic Delivery***

We are required to send you, free of charge, an Initial Summary Prospectus and an Updating Summary Prospectus (as applicable), and any updates to such Summary Prospectus documents. If you register to have these documents sent to you using electronic delivery, we will apply a $30 e-delivery credit to your Accumulation Value in the Policy Year in which you register. We will apply this e-delivery credit only one time while the policy remains in force. If you cancel the electronic delivery of those documents, then reinstate electronic delivery later, you will not be entitled to another e-delivery credit. The e-delivery credit will be applied to the Allocation Options and/or the DCA Advantage Account in the same percentages used to allocate your premium payments. If you selected e-delivery, we will still provide you, free of charge, paper copies of these documents upon request.

Paper copies of a Portfolio's annual and semi-annual shareholder reports will not be sent by mail unless you specifically request paper copies of the reports from NYLIAC. Instead, the shareholder reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive the Portfolios' annual and semi-annual reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive any other communications from NYLIAC electronically by contacting the VPSC.

You may elect to receive all future annual and semi-annual financial reports in paper free of charge. You can inform NYLIAC that you wish to receive paper copies of those reports by contacting NYLIAC, as described in the "CONTACTING NYLIAC" section of this Prospectus. Your election to receive annual and semi-annual shareholder reports will apply to all Portfolios described herein.

**Records and Reports**

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NYLIAC will mail to you at your last known address of record, at least semi-annually after the first Policy Year, reports (or, if permitted, notice of online availability of reports; see "THE POLICIES––Electronic Delivery," above) containing information required under the federal securities laws or by any other applicable law or regulation. Generally, NYLIAC will promptly mail to you confirmation of any transactions involving the Separate Account. However, when we (i) process automatic rebalancing transactions through AAR, (ii) process automatic transfers from the DCA Advantage Account, (iii) receive premium payments on your behalf involving the Separate Account initiated through pre-authorized monthly deductions from banks, (iv) receive payments forwarded by your employer, or (v) receive other payments made by 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. **If you believe that a transaction has been processed incorrectly, it is your responsibility to contact us in writing and provide us with all relevant details. You must provide us with the nature of the error, the date of the error and any other relevant details. It is important that you review your confirmation and quarterly statements carefully and promptly report any errors and discrepancies to us, preferably, within fifteen (15) days of the date of the statement in question. It is important that you inform NYLIAC of an address change so that you can receive these policy statements (See "CONTACTING NYLIAC"). In the event your statement is returned from the U.S. Postal Service as undeliverable, we reserve the right to suspend mailing future correspondence and also suspend current transaction processing until an accurate address is obtained. In addition, no new service requests can be processed until a valid current address is provided.**

***Designation of Beneficiary***

You may select one or more Beneficiaries and name them in the application. Thereafter, before the Annuity Commencement Date and while the Annuitant(s) is living, you may change the Beneficiary by written notice in Good Order sent to one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus, at

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www.newyorklife.com or through the mobile application, or you can utilize any other method we make available. If, before the Annuity Commencement Date, the Annuitant dies while you are still living, you will become the new Annuitant under the policy. If you are the Annuitant, the proceeds pass to your Beneficiary.

If no Beneficiary for any amount payable, or for a stated share, survives you, the right to this amount or this share will pass to your estate. Payment of the proceeds will be made in a single sum to your estate. If any Beneficiary dies at the same time as you, or within fifteen (15) days after your death, but before we receive proof of death and all claim information in Good Order, we will pay any amount payable as though the Beneficiary died before you did. If you have designated only one Beneficiary, this could mean that the proceeds will be payable to your estate.

Every state has unclaimed property laws, which generally declare an annuity policy to be abandoned after a period of inactivity of three to five years from the policy's Annuity Commencement Date or the date the death benefit is due and payable. If, after a thorough search, we are unable to locate you after your policy's Annuity Commencement Date, or if we are unable to locate your Beneficiary if you die before the Annuity Commencement Date, or you or the Beneficiary do not come forward to claim the policy proceeds or death benefit in a timely manner, the proceeds or death benefit may be paid to the abandoned property division or unclaimed property office of the state in which the beneficiary or the Annuitant last resided, as shown on our books and records, or to Delaware (our state of domicile). This escheatment is revocable, however, and the state is obligated to pay back the escheated amount if you or your beneficiary steps forward to claim it with the proper 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 the VPSC at 1-800-598-2019 or send written notice to one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus.

***Delay of Payments***

We will pay any amounts due from the Separate Account under the policy within seven (7) days of the date the VPSC receives all documents (including documents necessary to comply with federal and state tax law) in connection with a payment request in Good Order at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

*Situations where payments may be delayed:* 

&nbsp;&nbsp;&nbsp;&nbsp;1. We may delay payment of any amounts due from the Separate Account under the policy and transfers among Investment Divisions during any period that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The New York Stock Exchange ("NYSE") is closed, for other than usual weekends or holidays; trading is restricted by the Securities and Exchange Commission ("SEC"); or the SEC declares that an emergency exists as a result of which it is not reasonably practical to dispose of securities in a Portfolio or to fairly determine the value of the assets of a Portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The SEC, by order, permits us to delay payment in order to protect our policyowners; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The check used to pay the premium has not cleared through the banking system. This may take up to fifteen (15) days.

&nbsp;&nbsp;&nbsp;&nbsp;2. We may delay payment of any amounts due from the Fixed Account and/or the DCA Advantage Account. When permitted by law, we may defer payment of any partial withdrawal or full surrender request for up to six months from the date of surrender from the Fixed Account and/or the DCA Advantage Account. In most jurisdictions, we will pay interest on any amount deferred for thirty days or more. If we defer payments, we will pay interest at the rate specified by the insurance department of the state where your policy is issued from the Business Day that we receive your partial withdrawal or surrender request in Good Order. This rate will be at least 1.0% per year. For more information about when interest is payable for policies issued in New York, see APPENDIX 3.

&nbsp;&nbsp;&nbsp;&nbsp;3. Federal laws enacted 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 to a particular policy(ies), we would not be allowed to pay any request for transfers, partial withdrawals, surrenders

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or death benefits. If a policy or an account is frozen, the Accumulation Value would be moved to a special segregated interest-bearing account and held in that account until we receive instructions from the appropriate federal regulator.

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**Benefits Available Under The Policies**

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The following tables summarize information about the benefits available under the policy.

**STANDARD DEATH BENEFIT**

**(automatically included with the policy)** 

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Standard Death** <br> **Benefit**<br>| For policies issued to <br> policyowners aged 80 or <br> younger, the Standard Death <br> Benefit guarantees that your <br> beneficiaries will receive the <br> greater of: (i) your <br> Accumulation Value; (ii) the <br> Return of Premium Death <br> Benefit; or (iii) the Step-up <br> Death Benefit. For policies <br> issued to policyowners aged <br> 81 to 85, the Standard Death <br> Benefit guarantees that your <br> beneficiaries will receive the <br> greater of: (i) your <br> Accumulation Value; or <br> (ii) the Return of Premium <br> Death Benefit.<br>| No additional charge | •Withdrawals could <br> significantly reduce the <br> benefit (possibly by an <br> amount substantially <br> greater than the actual <br> amount withdrawn).<br>|

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**OPTIONAL DEATH BENEFITS AVAILABLE FOR A FEE** 

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Annual Death** <br> **Benefit Reset** <br> **(ADBR) Rider**<br>| Provides a new locked–in <br> higher death benefit each <br> year from the Policy Date <br> ("Reset Anniversary"), if your <br> investments increase in <br> value.<br>| Maximum Charge: 1.00%<br>(Charge calculated as an <br> annualized percentage of the <br> ADBR Reset Value as of the <br> last Policy Anniversary or as <br> of the Policy Date if within <br> the first Policy Year, <br> deducted quarterly)<br>| •Only available at the time <br> of application to <br> policyowners aged 75 or <br> younger.<br>•Resets will continue on <br> Reset Anniversaries until <br> the Owner (or Annuitant if <br> the Owner is not a natural <br> person) is age 80 or 85 <br> (depending when the policy <br> was purchased).<br>•In certain jurisdictions, an <br> ownership change or <br> assignment will terminate <br> the benefit.<br>•Withdrawals could <br> significantly reduce the <br> benefit (possibly by an <br> amount substantially <br> greater than the actual <br> amount withdrawn). <br>|

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  |  |  | •You cannot cancel the rider <br> without surrendering the <br> policy.<br>•The rider is not available <br> for Inherited Non-Qualified <br> policies.<br>|

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

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **IPR, IPR 2.0, IPR** <br> **3.0, IPR 4.0, IPR 5.0** <br> **Death Benefit**<br>| A death benefit that is <br> available if you purchase the <br> IPR, IPR 2.0, IPR 3.0, IPR <br> 4.0 or IPR 5.0. This death <br> benefit guarantees that your <br> beneficiaries will receive the <br> greatest of the: (1) Standard <br> Death Benefit under the <br> policy; (ii) any death benefit <br> available under any other <br> rider attached to the policy; <br> or (iii) the IPR death benefit.<br>| Maximum Charge: 2.00%<br> (as an annualized <br> percentage of the amount <br> that is guaranteed)<br>| •Only available at the time <br> of application.<br>•The IPR Death Benefit that <br> is payable under the <br> investment preservation <br> riders may require that the <br> Owner hold the policy for a <br> minimum waiting period <br> before the IPR Death <br> Benefit equals the <br> Guaranteed Amount under <br> the investment <br> preservation rider. If the <br> Owner dies prior to the end <br> of that required waiting <br> period, the IPR Death <br> Benefit will be equal to the <br> first policy year premiums <br> less any proportional <br> withdrawals. (See <br> DESCRIPTION OF <br> BENEFITS – IPR, IPR 2.0, <br> IPR 3.0, IPR 4.0 and IPR <br> 5.0 for more information on <br> IPR Death Benefit <br> calculations.)<br>•Similarly, if an IPR Reset is <br> elected, a new waiting <br> period, as applicable, will <br> begin before the <br> Guaranteed Amount is <br> payable as the IPR Death <br> Benefit. If the Owner dies <br> prior to the end of the new <br> applicable waiting period, <br> the IPR Death Benefit will <br> be equal to the <br> Accumulation Value as of <br> the Rider Reset Effective <br> Date less any proportional <br> withdrawals.<br>•Only payable if the  |

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  |  |  | Owner's spouse does not <br> elect to continue the policy <br> pursuant to its spousal <br> continuance option. If the <br> Owner's spouse elects to <br> continue the policy, the <br> IPR, IPR 2.0, IPR 3.0, IPR <br> 4.0 or IPR 5.0 will continue <br> and the IPR Death Benefit <br> will not be paid.<br>•See the next table <br> "OPTIONAL LIVING <br> BENEFITS AVAILABLE <br> FOR A FEE—IPR, IPR 2.0, <br> IPR 3.0, IPR 4.0 and IPR <br> 5.0" for more information <br> about the restrictions and <br> limitations applicable to the <br> IPR, IPR 2.0, IPR 3.0, IPR <br> 4.0 and IPR 5.0.<br>|

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**OPTIONAL LIVING BENEFITS AVAILABLE FOR A FEE** 

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| | | | |
|:---|:---|:---|:---|
| **NAME OF BENEFIT** | **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF** <br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Investment** <br> **Preservation Rider,**<br> **Investment** <br> **Preservation Rider** <br> **2.0,**<br> **Investment** <br> **Preservation Rider** <br> **3.0**<br> **Investment** <br> **Preservation Rider** <br> **4.0**<br> (no longer available <br> for purchase)<br>| Protects your investment <br> from loss for a specified <br> Holding Period. If, after a <br> specified Holding Period, <br> your Accumulation Value is <br> less than the amount <br> guaranteed, we will make a <br> one-time increase to your <br> Accumulation Value to make <br> it equal to the guaranteed <br> amount.<br>You may request to reset the <br> guaranteed amount (an IPR <br> Reset) under certain <br> circumstances.<br>In most jurisdictions, includes <br> an IPR Death Benefit which <br> is payable upon the death of <br> the Owner if the Owner dies <br> before the end of the Holding <br> Period.<br>| Maximum Charge: 2.00%<br>(as an annualized <br> percentage of the amount <br> that is guaranteed)<br>Maximum Rider Risk Charge <br> Adjustment<br> (Cancellation Charge): <br>2.00%<br>(one-time charge; calculated <br> as a percentage of the <br> amount guaranteed)<br>| •Provides no benefit if you <br> surrender the policy before <br> the end of the Holding <br> Period.<br>•Restricts the availability of <br> certain investment options. <br> See APPENDIX 1B, 1C <br> and 1D.<br>•For IPR, Premium <br> Payments made after the <br> first Policy Year are not <br> included in the guaranteed <br> amount. For IPR 2.0, IPR <br> 3.0 and IPR 4.0, premiums <br> are only permitted (a) in <br> the first Policy Year or (b) <br> after a specified Holding <br> Period.<br>•Withdrawals could <br> significantly reduce the <br> benefit (possibly by an <br> amount greater than the <br> actual amount withdrawn).<br>|
|  |  |  | •An IPR Reset starts a new <br> Holding Period. New <br> annual charges may apply <br>|

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| | | | |
|:---|:---|:---|:---|
| **NAME OF BENEFIT** | **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF** <br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  |  |  | after you elect an IPR <br> Reset. See the Rate Sheet <br> Prospectus Supplement for <br> current applicable reset <br> rates.<br>•IPR Reset rights may be <br> suspended or discontinued <br> and are subject to age <br> limits.<br>|
|  |  |  | •We apply a one-time <br> charge if you cancel the <br> rider (Rider Risk Charge <br> Adjustment).<br>|
| **Investment** <br> **Preservation Rider** <br> **5.0**<br>| Protects your investment <br> from loss for a specified <br> Holding Period. If, after a <br> specified Holding Period, <br> your Accumulation Value is <br> less than the amount <br> guaranteed, we will make a <br> one-time increase to your <br> Accumulation Value to make <br> it equal to the guaranteed <br> amount.<br>You may request to reset the <br> guaranteed amount (an IPR <br> Reset) under certain <br> circumstances.<br>In most jurisdictions, includes <br> an IPR Death Benefit which <br> is payable upon the death of <br> the Owner if the Owner dies <br> before the end of the Holding <br> Period.<br>| Maximum Charge: 2.00%<br>(as an annualized <br> percentage of the amount <br> that is guaranteed)<br>Maximum Rider Risk Charge <br> Adjustment (Cancellation <br>Charge): 2.00%<br>(one-time charge; calculated <br> as a percentage of the <br> amount guaranteed)<br>| •Only available at the time <br> of application to <br> policyowners aged 75 or <br> younger (70 or younger for <br> the 20-year Holding <br> Period).<br>•You should not select this <br> rider unless you intend to <br> keep the policy for at least <br> as long as the Holding <br> Period you've selected.<br>•Provides no benefit if you <br> surrender the policy before <br> the end of the Holding <br> Period.<br>•Restricts the availability of <br> certain investment options. <br> See APPENDIX 1C and <br> 1D.<br>•Premium payments are <br> only permitted (a) in the <br> first Policy Year or (b) after <br> a specified Holding Period.<br>•Withdrawals could <br> significantly reduce the <br> benefit (possibly by an <br> amount greater than the <br> actual amount withdrawn).<br>•An IPR Reset starts a new <br> Holding Period. New <br> annual charges may apply <br> after you elect an IPR <br> Reset. See the Rate Sheet <br> Prospectus Supplement for <br> current applicable reset <br> rates.<br>|
|  |  |  | •IPR Reset rights may be <br> suspended or discontinued <br> and are subject to age <br>|

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|:---|:---|:---|:---|
| **NAME OF BENEFIT** | **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF** <br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  |  |  | limits.<br> •We apply a one-time <br> charge if you cancel the <br> rider (Rider Risk Charge <br> Adjustment).<br>•Availability subject to <br> maximum age conditions.<br>|
|  |  |  | •The rider is not available <br> for 403(b), Inherited IRA, <br> Inherited Roth IRA, or <br> Inherited Non-Qualified <br> policies.<br>|

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**OTHER OPTIONAL BENEFITS INCLUDED WITH ALL POLICIES AT NO ADDITIONAL COST** 

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Living Needs** <br> **Benefit /** <br> **Unemployment** <br> **Rider**<br>| Waives Surrender Charges if <br> the Owner experiences <br> certain "qualifying events" <br> such as: (i) confinement to a <br> health care facility for 60 <br> consecutive days; <br> (ii) terminal illness; or <br> (iii) disability. If the Owner <br> becomes unemployed, the <br> rider waives Surrender <br> Charges on a one-time <br> withdrawal of up to 50% of <br> your Accumulation Value.<br>|  | •Policy must have been in <br> force for at least one year <br> and have a minimum <br> Accumulation Value of <br> $5,000.<br>•Qualifying Event (as <br> defined in the rider) must <br> occur after the Policy Date.<br>•Not available if any Owner <br> has attained age 86 on the <br> Policy Date.<br>•For the Disability portion of <br> the rider, any withdrawal <br> after your 66th birthday will <br> not be eligible for the rider <br> benefit and surrender <br> charges may apply.<br>•Unemployment must be for <br> at least 60 consecutive <br> days.<br>•A determination letter from <br> your state's Department of <br> Labor is required for <br> unemployment benefit.<br>|
| **Waiver of Surrender** <br> **Charges for Home** <br> **Health Care** <br> **Qualifying Event** <br> **Rider**<br>| Waives 100% of Surrender <br> Charges if eligible Owner <br> receives Home Health Care <br> Services by a Home Health <br> Care Provider.<br>|  | •Policy must have been in <br> force for at least one year <br> and have a minimum <br> Accumulation Value of <br> $5,000.<br>•Qualifying Event (as <br> defined in the rider) must <br> occur after the Policy Date.<br>•Only available at time of  |

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  |  |  | application for Owners who <br> are age 76 or greater when <br> the policy is issued.<br>•Owner must have received <br> Home Health Care <br> Services from a Home <br> Health Care Provider for at <br> least 60 days during the <br> six-month period <br> immediately preceding the <br> partial withdrawal or <br> surrender. The Home <br> Health Care Provider must <br> be an organization or <br> individual that is licensed to <br> provide home health care <br> to chronically ill individuals <br> in their home or residence.<br>•We reserve the right to <br> request satisfactory proof <br> of eligibility prior to each <br> request for a partial <br> withdrawal or full policy <br> surrender.<br>|
| **Future Income** <br> **Rider (no longer** <br> **available for** <br> **applications signed** <br> **on or after May 1,** <br> **2017)**<br>| Allows you to apply a portion <br> of your policy's Variable <br> Accumulation Value to <br> purchase a stream of <br> guaranteed annuity Income <br> Payments for the lifetime of <br> the Annuitant(s).<br>|  | •A Future Income Purchase <br> will proportionally reduce <br> the guaranteed amounts <br> under an investment <br> preservation rider or your <br> death benefit.<br>•Future Income Payment <br> amounts are based on a <br> variety of factors in effect <br> at the time of each Future <br> Income Purchase.<br>•Amounts used for a Future <br> Income Purchase are no <br> longer available for <br> withdrawal or annuitization.<br>•Future Income Start Date <br> is subject to minimum and <br> maximum waiting periods.<br>|
| **Automatic Asset** <br> **Rebalancing**<br>| Automatically rebalances <br> your Variable Accumulation <br> Value (either quarterly, <br> semi-annually, or annually) to <br> maintain the percentage <br> allocated to each Investment <br> Division at a pre-set level.<br>|  | •Cannot be used with the <br> traditional Dollar Cost <br> Averaging option.<br>•You must have a minimum <br> Accumulation Value of <br> $2,500 to elect this option, <br> and a minimum of $2,500 <br> to continue it as scheduled.<br>|
| **Traditional Dollar** | Automatically transfers a |  | •Cannot be used with the  |

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Cost Averaging** | specific amount of money <br> from any Investment Division <br> to any combination of <br> Investment Divisions and/or <br> Fixed Account at set <br> intervals.<br>|  | Automatic Asset <br> Rebalancing option, or with <br> an investment preservation <br> rider.<br>•For premium based M&E <br> Charge policies, amounts <br> cannot be transferred to <br> the Fixed Account (if <br> applicable).<br>•You must have a minimum <br> Accumulation Value of <br> $2,500 to elect this option, <br> and a minimum of $2,000 <br> to continue as scheduled.<br>|
| **The DCA** <br> **Advantage Account**<br>| Allows you to set up <br> automatic dollar cost <br> averaging using the DCA <br> Advantage Account when an <br> initial premium payment or a <br> subsequent premium <br> payment of at least $2,000 is <br> made. The DCA Advantage <br> Account transfers amounts <br> automatically to the <br> Investment Divisions you <br> choose in six monthly <br> increments and pays you <br> interest on amounts <br> remaining in the DCA <br> Advantage Account.<br>|  | •DCA Advantage Account <br> duration may not extend <br> beyond the Annuity <br> Commencement Date.<br>•You may not have more <br> than one DCA Advantage <br> Account open at the same <br> time.<br>•You must allocate a <br> minimum of $2,000 to the <br> DCA Advantage Account; <br> any premium payment less <br> than $2,000 will be <br> allocated directly to the <br> Investment Divisions in <br> accordance with the <br> instructions we have on <br> file.<br>•You cannot make transfers <br> into the DCA Advantage <br> Account from any <br> Allocation Option.<br>•The annual effective <br> interest rate for the DCA <br> Advantage Account shown <br> on your Policy Data Page <br> applies only to your initial <br> premium payment. Interest <br> rates applied to <br> subsequent premium <br> payments allocated to the <br> DCA Advantage Account <br> may differ.<br>•The benefits payable under <br> the DCA Advantage <br> Account (including principal <br> and interest) are payable <br>|

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  |  |  | from NYLIAC's general <br> account and are subject to <br> its claims-paying ability.<br>|
| **Interest Sweep** | Automatically transfers <br> interest earned on the Fixed <br> Account to one or any <br> combination of Investment <br> Divisions.<br>|  | •Frequency of the transfers <br> can be monthly, quarterly, <br> semi-annually, or annually.<br>•You must have a minimum <br> of $2,500 in the Fixed <br> Account to elect this option <br> (but this amount may be <br> reduced at our discretion) <br> and a minimum of $2,000 <br> to continue as scheduled.<br>|

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**Description of Benefits**

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***The Standard Death Benefit – Death Before Annuity Commencement***

Unless amended by any rider attached to the policy, if the Owner dies prior to the Annuity Commencement Date, we will pay the Standard Death Benefit amount as proceeds to the designated Beneficiary(ies), as of the date the VPSC receives proof of death and all other required information in Good Order at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. With a jointly owned policy, ownership rights and privileges under the policy must be exercised jointly and benefits under the policy will be paid upon the death of any joint owner, unless the surviving spouse has been designated the sole primary beneficiary. In that case, the surviving spouse can choose to continue the policy as discussed below. (See FEDERAL TAX MATTERS—Taxation of Annuities in General.") For policies purchased before February 13, 2023 and owned by a grantor trust, benefits will be paid upon the death of any grantor. For policies owned by grantor trusts and purchased after February 13, 2023, benefits will be paid upon the death of the Annuitant. The Standard Death Benefit amount will be the greatest of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Accumulation Value; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the Return of Premium Death Benefit; or

&nbsp;&nbsp;&nbsp;&nbsp;(c) the Step–up Death Benefit.

For policyowners who are age 81 to 85 on the Policy Date, the Standard Death Benefit amount will be the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Accumulation Value; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the Return of Premium Death Benefit

If more than one Beneficiary is named, each Beneficiary will be paid a pro rata portion from each Investment Division, the Fixed Account and the DCA Advantage Account in which the policy is invested as of the date we receive proof of death and all requirements necessary to make the payment to that Beneficiary. The remaining balance in the policy after paying each Beneficiary will remain in each Allocation Option in which the policy was invested as of the date we received proof of death in Good Order. We will keep the remaining balance in the policy to pay the other Beneficiaries. Due to market fluctuations, the remaining Accumulation Value may increase or decrease and we may pay subsequent Beneficiaries a different amount. Beneficiary(ies) may not make transfers between Investment Divisions of the Separate Account, the Fixed Account or any other investment option that we may offer at any time.

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We will make payments in a lump sum to the Beneficiary unless you have elected or the Beneficiary elects otherwise in a signed written notice in Good Order. If such an election is properly made, we will apply all or part of these proceeds:

&nbsp;&nbsp;&nbsp;&nbsp;(i) under a Life Income Payment option to provide an immediate annuity for the Beneficiary who will be the policyowner and Annuitant; or

&nbsp;&nbsp;&nbsp;&nbsp;(ii) under another Income Payment option we may offer at the time.

Payments under the annuity or under any other method of payment we make available must be for the life of the Beneficiary, or for a number of years that is not more than the life expectancy of the Beneficiary at the time of the policyowner's death (as determined for federal tax purposes), and must begin within one year after the policyowner's death. (See "ANNUITY PAYMENTS (THE INCOME PHASE)—Income Payments.")

If your spouse (as defined under Federal law) is designated as the sole primary Beneficiary, we can pay the proceeds to the surviving spouse if you die before the Annuity Commencement Date or the policy can continue with the surviving spouse as (a) the new policyowner and, (b) the Annuitant, if you were the Annuitant. Please note: if your spouse is not designated as the sole primary beneficiary, when you die, the death benefit will be paid to the beneficiary(ies) you named, even if your spouse was the joint owner of the policy. For policies with one Annuitant, if the Annuitant is not an Owner and the Annuitant dies before the Annuity Commencement Date, when we receive proof of death for the Annuitant, the Owner will become the Annuitant, and the policy will continue. If the policy is jointly owned, the first Owner named will become the Annuitant. For more information about spousal continuance for policies issued in New Jersey, see *"APPENDIX 3 –State Variations."* 

We will make any distribution or application of policy proceeds within 7 days after the VPSC receives all documents (including documents necessary to comply with federal and state tax law) in connection with the event or election that causes the distribution to take place at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus in Good Order, subject to postponement in certain circumstances. (See "The POLICIES—Delay of Payments.")

<u>How the Standard Death Benefit is Calculated</u> 

Here is an example of how the Standard Death Benefit is calculated for policies issued to policyowners aged 80 or younger.

Assume that:

&nbsp;&nbsp;&nbsp;&nbsp;(1) You purchase this policy with a $200,000 premium payment;

&nbsp;&nbsp;&nbsp;&nbsp;(2) A $20,000 withdrawal is made at the end of the second Policy Year, and the Accumulation Value immediately preceding the withdrawal is $240,000;

&nbsp;&nbsp;&nbsp;&nbsp;(3) The Accumulation Value as of the seventh Policy Anniversary is $225,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(4) You die in the ninth Policy Year, and the Accumulation Value upon death is $175,000

At issue, the Adjusted Death Benefit Premium Payments are equal to $200,000

Due to the $20,000 withdrawal at the end of the second Policy Year, the Adjusted Death Benefit Premium Payments were reduced by $16,666.67, calculated as follows: ($20,000 / $240,000) \* $200,000 = $16,666.67.

Upon death in the ninth policy year, the Standard Death Benefit is $225,000, which is the greater of:

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

the Accumulation Value upon death

= $175,000, or

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

Premium payments less any Return of Premium Death Benefit Proportional Withdrawal;

= $183,333.33 (calculated as follows: $200,000 - $16,666.67 = $183,333.33), or

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

the Step-Up Death Benefit

= $225,000

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In this example, for policies issued to policyowners aged 80 or younger, your Beneficiary would receive **$225,000**.

For policies issued to policyowners aged 81-85, the Step-Up Death Benefit is not available. Accordingly, your beneficiaries would receive the greater of (a) or (b) above. In this case, it would be $183,333.33 as calculated in (b).

***Annual Death Benefit Reset Rider***

You may enhance your Policy's Standard Death Benefit by purchasing the optional ADBR Rider. The ADBR Rider is available only at the time of application, in jurisdictions where approved, to policyowners aged 75 or younger. You cannot cancel this Rider without surrendering your policy. The rider is not available for Inherited Non-Qualified polices. If you purchase this rider and you die prior to the Annuity Commencement Date, we will pay an amount as proceeds to the designated Beneficiary, as of the date we receive proof of death and all requirements necessary to make the payment at the VPSC. For policies owned by a grantor trust, all of whose grantors are individuals, benefits will be paid upon the death of any grantor. With this rider, your death benefit will be the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Standard Death Benefit payable under the policy (See "DESCRIPTION OF BENEFITS –The Standard Death Benefit–Death Before Annuity Commencement"); or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the "ADBR Reset Value", as defined in the next paragraph, plus any additional premium payments made since the most recent "Reset Anniversary," less proportional withdrawals ("ADBR Reset Value Proportional Reductions") made since the most recent Reset Anniversary; or

&nbsp;&nbsp;&nbsp;&nbsp;(c) any death benefit available under any other rider attached to the policy.

We automatically calculate the ADBR Reset Value, with respect to any policy, every year from the Policy Date ("Reset Anniversary") until, for Policies applied for on or after May 1, 2019, you reach age 85 and, for Policies applied for before May 1, 2019, until you reach age 80 (or the Annuitant if the Owner is not a natural person). For policies owned by a grantor trust applied for on or after May 1, 2019, the ADBR Reset Value will be calculated until any grantor reaches age 85, and for Policies applied for before May 1, 2019, reaches age 80. On the First Policy Anniversary, the ADBR Reset Value is defined as the greater of (a) the Accumulation Value on the first Policy Anniversary; and (b) the Return of Premium Death Benefit. The ADBR Reset Value on the second and each subsequent Reset Anniversary is defined as the greatest of (a) the Accumulation Value on the current Reset Anniversary; and (b) the ADBR Reset Value on the prior Reset Anniversary, plus any premium payments applied since the prior Reset Anniversary, less any ADBR Reset Value Proportional Reductions since the prior Reset Anniversary.

The rider benefit will no longer reset after the Owner's death or for grantor trust owned policies, the death of any grantor. The only exception is if the policy remains in-force under the spousal option provision of the Policy, if available. If the Owner is not a natural person, or a grantor trust, the rider benefit will no longer reset after the death of the Annuitant. In addition, in jurisdictions where approved, if an ownership change or assignment of the policy is made, other than as explicitly described in the rider, the rider will terminate and no ADBR Reset Value will be payable. If the rider is terminated, the death benefit payable will be the benefit provided in the "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement" section of this Prospectus.

An ADBR Reset Value Proportional Reduction is an amount equal to the amount withdrawn from the policy, after the first Policy Anniversary, (including applicable surrender charges), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the ADBR Reset Value immediately preceding the withdrawal.

We have set forth below an example of how the ADBR Rider works for an owner who is age 63. The current annual rider charge is 0.25% (for policies applied for on and after May 1, 2016) of the ADBR Reset Value as of the last Policy Anniversary, deducted quarterly. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) you purchase this policy with a $200,000 initial premium payment (no additional premium payments are made)

&nbsp;&nbsp;&nbsp;&nbsp;(2) the Accumulation Value as of the first Policy Anniversary is $250,000 (this is the Policy Year 1 ADBR Reset Value)

&nbsp;&nbsp;&nbsp;&nbsp;(3) the current Accumulation Value is $240,000

&nbsp;&nbsp;&nbsp;&nbsp;(4) you make a withdrawal of $15,000 in the Policy Year 2 (no surrender charges are applicable)

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

&nbsp;&nbsp;&nbsp;&nbsp;(5) you die at the beginning of the second policy quarter of Policy Year 2 after the withdrawal

&nbsp;&nbsp;&nbsp;&nbsp;(6) the Accumulation Value on the date we receive the necessary requirements to pay the death benefit is $225,000 ($240,000 – $15,000)

&nbsp;&nbsp;&nbsp;&nbsp;(7) the charge for the ADBR Rider is assessed (for policies applied for on and after May 1, 2016): 0.25% annually (0.0625% per quarter)

&nbsp;&nbsp;&nbsp;&nbsp;(8) the Death Benefit is the greatest of:

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

the Accumulation Value

= $225,000

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

the Return of Premium Death Benefit

= $187, 500 calculated as described below:

To calculate the Return of Premium Death Benefit, you must first determine the value of any Return of Premium Death Benefit Proportional Withdrawal. The Return of Premium Death Benefit Proportional Withdrawal equals the amount of partial withdrawals ($15,000) divided by the policy's Accumulation Value immediately preceding the withdrawal ($240,000), multiplied by the Return of Premium Death Benefit immediately preceding the withdrawal ($200,000):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ($15,000/$240,000) x $200,000 = $12,500 is the proportional reduction.

The total amount of premium payments made under the policy ($200,000) minus the Return of Premium Death Benefit Proportional Withdrawal ($12,500) equals the Return of Premium Death Benefit ($187,500).

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

the Policy Year 2 ADBR Reset Value, which is the greatest of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. the Accumulation Value

= $225,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the prior ADBR Reset Value as of the last Reset Anniversary ($250,000), plus any premium payments made since the prior Reset Anniversary ($0), less ADBR Reset Value Proportional Reductions since the prior Reset Anniversary ($15,625).

= $234,375 calculated as described below:

To calculate the ADBR Reset Value, you must first determine the value of any ADBR Reset Value Proportional Reduction. The ADBR Reset Value Proportional Reduction is an amount equal to the amount withdrawn from the policy, after the first Policy Anniversary, ($15,000), divided by the policy's Accumulation Value immediately preceding the withdrawal ($240,000), multiplied by the ADBR Reset Value immediately preceding the withdrawal ($250,000).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ($15,000/$240,000) x $250,000 = $15,625.

The prior ADBR Reset Value as of the last Reset Anniversary ($250,000), plus any premium payments since the prior Reset Anniversary ($0), less ADBR Reset Value Proportional Reductions since the prior Reset Anniversary ($15,625) equals $234,375.00

In this example, your Beneficiary would receive **$234,375.00**.

The ADBR Rider ends upon the earliest of the following:

1)

the Annuity Commencement Date,

2)

the date you surrender the policy,

3)

an ownership change or assignment of the policy, other than as described in the rider, or

4)

the date we terminate the policy.

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Notwithstanding the foregoing, if your spouse, as the sole primary Beneficiary, elects to continue the policy as the new Owner upon your death, the Rider will not end and all of the Rider's provisions and quarterly charges will continue to be deducted as if the new Owner had purchased the policy on the original Policy Date.

**You cannot cancel this Rider without surrendering your policy.**

***Investment Preservation Rider (IPR)***

The Investment Preservation Rider ("IPR") is no longer available for purchase and was available only at the time of application. The IPR allows you to choose among seven (7) different Holding Periods. If you elected the IPR, you will be eligible to receive a one–time adjustment to your Accumulation Value in the event that your Accumulation Value is less than the amount guaranteed under the IPR on the applicable policy anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose. You may request to reset the guaranteed amount (an "IPR Reset") under certain circumstances, as described below. Certain features of the IPR relating to the 20 – year rider Holding Period may not be available in all jurisdictions; contact your registered representative or see "APPENDIX 3 – State Variations" for more information.

IPR will end on the applicable policy anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose. The applicable policy anniversary depends on the Holding Period you choose. While the IPR is in effect, we will deduct a charge from your Accumulation Value on each policy quarter. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 and Investment Preservation Rider 5.0" and the Rate Sheet Prospectus Supplement for current charges.) When you make a partial withdrawal (including required minimum distributions from IRAs), we will reduce the amount that is guaranteed (the "Guaranteed Amount") under the IPR proportionally ("Guaranteed Amount Proportional Reduction"). A Guaranteed Amount Proportional Reduction is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the Guaranteed Amount immediately preceding the withdrawal. For example, if you withdrew 10% of the Accumulation Value, your Guaranteed Amount will be reduced by 10%.

Please note that benefits payable under the IPR are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third–party guarantees are involved.

The Guaranteed Amount under the IPR is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(i) For the 10, 11, 12, 13, 14, or 15 year Holding Periods: The Guaranteed Amount will equal 100% of the sum of all premium payments that we receive in the first Policy Year, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) For the 20 year Holding Period: The Guaranteed Amount will equal 150% of the sum of all premium payments that we receive in the first Policy Year, less all Guaranteed Amount Proportional Reductions.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) For all Holding Periods, premium payments made after the first Policy Year will not be included in the Guaranteed Amount at issue. The IPR will take effect on the Policy Date.

&nbsp;&nbsp;&nbsp;&nbsp;(iv) IPR Reset:

You would decide to reset to increase the Guaranteed Amount under the IPR. You may request to reset the Guaranteed Amount at any time while the IPR is in effect as long as (a) the Owner (oldest Owner, if the policy is jointly owned) and the Annuitant (oldest Annuitant, if there are joint Annuitants) are age 75 or younger (for the 10, 11, 12, 13, 14 and 15 year Holding Periods), or age 70 or younger (for the 20 year Holding Period) and (b) prior to the reset, the Accumulation Value or 150% of the Accumulation Value (for the 20 year Holding Period) is greater than the Guaranteed Amount. For a reset, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset (the "Rider Reset Effective Date") and, at such time, the Guaranteed Amount will be increased to equal the Accumulation Value (for 10, 11, 12, 13, 14, 15 year Holding Periods) or 150% of the Accumulation Value (for the 20 year Holding Period) on that date. After the reset(s), Guaranteed Amount Proportional Reductions still apply during the new Holding Period. Upon reset, the terms of the IPR Death Benefit are also reset so that

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the death of the Owner must be within two years of the new Holding Period End Date for the IPR Death Benefit to equal the Guaranteed Amount; if the death of the Owner is earlier than within two years of the new Holding Period End Date, the death benefit payable will be the greater of the Standard Death Benefit or the death benefit under the ADBR Rider, if applicable. We may also set a new charge (not to exceed the guaranteed maximum charge in the "FEE TABLE") for the IPR and the Rider Risk Charge Adjustment on the Rider Reset Effective Date. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 and Investment Preservation Rider 5.0", and the Rate Sheet Prospectus Supplement for current charges and "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 (Cancellation Charge).") In addition, upon reset, your allocation restrictions may change. When you reset, a new rider Holding Period with the same duration as the original Holding Period starts, that means, for example, if you purchase IPR with a 12 year Holding Period, and you elect to reset in policy year four (4), a new 12 year Holding Period will begin on the Policy Anniversary immediately following the date we receive your request to reset. You will not be eligible to receive a one–time adjustment to your Accumulation Value until the Policy Anniversary following the end of the new Holding Period. **We can suspend or discontinue the ability to reset the Guaranteed Amount at any time in our sole discretion on a nondiscriminatory basis. If we decide to suspend or discontinue the ability to reset the Guaranteed Amount, we will promptly notify you in writing.** Please contact your registered representative for more information.

A policyowner may cancel an IPR Reset at any time prior to or within thirty (30) days after the Rider Reset Effective Date. If you cancel your request to reset, no change will be made to the Guaranteed Amount, Holding Period, Holding Period End Date, Rider Effective Date (if previously reset, the Rider Reset Effective Date), allocation restrictions, the IPR Charge or the Rider Risk Charge Adjustment, if applicable.

If you purchased IPR, you will be allowed to allocate your premium payments to the Investment Divisions, an available Asset Allocation Model and the DCA Advantage Account subject to the restrictions set forth in APPENDIX 1B.

The Fixed Account is not available while the IPR is in effect. Upon any termination of the IPR, the Fixed Account will be an available investment option. If you purchase the IPR, there will be limitations on how you allocate to the Investment Divisions. You may allocate your premium payment to Investment Divisions in the Asset Allocation Categories in accordance with the specified thresholds, or to one of the available Asset Allocation Models. Individual transfers between Investment Divisions, the DCA Advantage Account and/or Asset Allocation Models are not allowed. If you wish to complete an individual transfer between the Investment Divisions, or change to a different Asset Allocation Model (if available), you must send a reallocation form to the VPSC at one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus. Each policy quarter, we will automatically rebalance your current allocations to conform to your most recent allocation instructions. The Investment Division restrictions associated with the IPR seek to moderate overall volatility or hedge against down–market volatility, and may limit your participation in positive investment performance. Other investment options that are available if you do not purchase the IPR may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with the IPR meet your investment objectives and risk tolerance. **The Asset Allocation Categories and the Asset Allocation Models available with IPR are set forth in APPENDIX 1B.** 

If you choose an IPR Reset, the restrictions on investment allocations may change. These changes could include an adjustment to the minimum and/or maximum allocation percentages available under the Asset Allocation Categories, adding or removing Asset Allocation Categories, adding or removing Asset Allocation Models, or discontinuing the availability of the DCA Advantage Account.

With the IPR, you do not have to surrender the policy to receive any applicable benefit. You will be eligible to receive any benefit payable on the Policy Anniversary for the Holding Period you chose after the later of the Policy Date or the most recent reset date. You do not need to take any action. We will inform you in writing if you are eligible to receive the one–time adjustment to your Accumulation Value under the IPR. We will also inform you of your options in the event that such one–time adjustment is made to your Accumulation Value which are to (i) surrender the policy and receive the adjusted Accumulation Value (which may be subject to surrender charges), or (ii) continue the policy at the adjusted Accumulation Value, which is subject to market fluctuation. If you are eligible to receive an adjustment, we will credit an amount to your Accumulation Value pro rata in accordance with your allocations currently on file. If

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you surrender the policy, amounts paid to you under the IPR may be taxable and you may be subject to a 10% penalty tax if such amounts are paid before you reach age 59½.

You may cancel the IPR within thirty (30) days after delivery of the policy without incurring the Rider Risk Charge Adjustment. To cancel, you must return the IPR to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel the IPR and refund any IPR charges which may have been deducted. After this 30–day period, you still have the right to discontinue the IPR, however, we will deduct a Rider Risk Charge Adjustment from your Accumulation Value and we will not refund any IPR charges that may have been deducted. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 (Cancellation Charge).") Certain jurisdictions may not permit us to assess a Rider Risk Charge Adjustment; for more information, contact your registered representative or see "APPENDIX 3 – State Variations". The cancellation of the IPR after the 30–day period will be effective as of the date VPSC receives your cancellation request. You should consider the cost of cancelling the IPR prior to purchasing it.

The IPR was available with all Non–Qualified, IRA, SEP IRA, Simple IRA, Roth IRA, Keogh and Pension policies if the Owner (oldest Owner, if the policy is jointly owned) and the Annuitant (oldest Annuitant, if the policy has joint Annuitants) are age 75 or younger (70 or younger for the 20–year Holding Period) on the Rider Effective Date. The rider was not available on TSA and Inherited IRA policies.

The IPR will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to receive a potential one–time adjustment to your Accumulation Value. Therefore, you should purchase the IPR only if you intend to keep the policy for at least the rider Holding Period you choose (10, 11, 12, 13, 14, 15 or 20 years).

In most jurisdictions, the IPR will terminate if an ownership change or assignment of the policy is made, other than as explicitly described in the rider.

Upon your death, the IPR and the policy will terminate unless your spouse chooses to continue the policy. Your spouse must be the sole primary beneficiary in order to continue the IPR and the policy. If your spouse chooses to continue the IPR and the policy, no death benefit proceeds will be paid upon your death.

Any withdrawal reduces the Guaranteed Amount proportionally and the amount of charges assessed for the IPR. While the IPR is in effect, withdrawals will be deducted proportionally from the Allocation Options. However, please note that charges assessed for the IPR prior to the date of any partial withdrawal (including required minimum distributions from IRAs) will not be retroactively adjusted**. It is important to note that if you take any withdrawal (including required minimum distributions from IRAs) while the IPR is in effect, you may not be able to receive the full value of the IPR. The reduction in the Guaranteed Amount may be significant and could be greater than the actual amount withdrawn. This may occur when you request a withdrawal at a time when your Accumulation Value is lower than the Guaranteed Amount (see example below). As a result, the IPR may not be appropriate for you if you intend to take withdrawals (including required minimum distributions from IRAs) before the end of the Holding Period you choose. You should consult your tax advisor if you have any questions about the use of the IPR in your tax situation.** 

We have set forth below an example of how the benefit from the IPR may be realized and how partial withdrawals (including required minimum distributions from IRAs) will impact the Guaranteed Amount and how we calculate the Guaranteed Amount Proportional Reduction. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR with a 10, 11, 12, 13, 14, or 15 year Holding Period is purchased at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(4) A withdrawal of $20,000 is made in the eighth policy year;

&nbsp;&nbsp;&nbsp;&nbsp;(5) The Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(6) As of the Holding Period End Date, the Accumulation Value on the Policy Anniversary corresponding to the Holding Period you chose has decreased to $50,000.

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The Guaranteed Amount when we issued the policy was $100,000. When the withdrawal was made in the eighth Policy Year, we reduced the Guaranteed Amount by the amount of the Guaranteed Amount Proportional Reduction. We calculated the amount of the Guaranteed Amount Proportional Reduction by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the Guaranteed Amount immediately preceding the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Guaranteed Amount Proportional Reduction = ($20,000/$80,000) x $100,000 = $25,000

To determine the new Guaranteed Amount after the withdrawal, we subtracted the Guaranteed Amount Proportional Reduction from the initial Guaranteed Amount: ($100,000 – $25,000) = $75,000.

On the Policy Anniversary for the Holding Period you chose, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $75,000. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $25,000.

If you had chosen the 20 year Holding Period, your IPR Guarantee Percentage would have been 150% and the Guaranteed Amount when we issued the policy would have been $150,000. Then the Guaranteed Amount Proportional reduction in year eight would have been ($20,000/$80,000) x $150,000 = $37,500 and the Guaranteed Amount after the Guaranteed Amount Proportional Reduction would have been $112,500. On the Policy Anniversary for the 20 year Holding Period, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $112,500. Therefore, you would have been able to receive a one-time adjustment of $62,500.

After the adjustment is paid, the rider will end. You would not have been eligible to receive this adjustment to your Accumulation Value if you had not purchased the IPR Rider.

*IPR Death Benefit*

If the policyowner dies within two Policy Years of the last day of the Rider term (Holding Period End Date) then in effect, the death benefit will equal the Guaranteed Amount for that Rider term, if that Guaranteed Amount is higher than death benefit payable under the policy (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".). However, if there is an ADBR Rider in effect, and the death benefit under the ADBR Rider is higher than the Standard Death Benefit or the Guaranteed Amount, we will pay the death benefit available under the ADBR Rider. Payment of a death benefit terminates the IPR. If the Owner dies before the last two Policy Years of the last day of the IPR Rider term (Holding Period End Date) then in effect, the death benefit payable will be the greater of the Standard Death Benefit or the death benefit under the ADBR Rider, if applicable.

***Investment Preservation Rider 2.0 (IPR 2.0)***

The Investment Preservation Rider 2.0 ("IPR 2.0") is no longer available for purchase and was available only at the time of application. While IPR 2.0 is in effect, you may only make premium payments to the policy (a) in the first Policy Year or (b) after the Holding Period End Date. The IPR 2.0 allows you to choose among seven (7) different Holding Periods. If you purchase the IPR 2.0, you will be eligible to receive a one–time adjustment to your Accumulation Value in the event that your Accumulation Value is less than the amount guaranteed under the IPR 2.0 on the applicable policy anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose. You may request to reset the guaranteed amount (an "IPR Reset") under certain circumstances, as described below. Certain features of the IPR 2.0 relating to the 20 year Holding Period and may not be available in all jurisdictions; contact your registered representative or see "APPENDIX 3 – State Variations" for more information.

The IPR 2.0 ends on the applicable policy anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose (See "DESCRIPTION OF BENEFITS–Investment Preservation Rider 2.0–IPR 2.0 Death Benefit" regarding the terms under which such death benefit may continue after the IPR 2.0 ends). The applicable policy anniversary depends on the Holding Period you choose. While the IPR 2.0 is in effect and prior to the Holding Period End Date, we will deduct a charge from your Accumulation Value on each policy quarter. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 and Investment Preservation Rider 5.0" and the Rate Sheet Prospectus Supplement for current charges.) When you make a withdrawal (including required minimum distributions from IRAs), we will reduce the amount that is guaranteed (the "Guaranteed Amount") under the IPR 2.0 proportionally ("Guaranteed Amount Proportional Reduction"). A Guaranteed Amount Proportional Reduction is equal to the amount withdrawn from the policy (including any amount

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withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the Guaranteed Amount immediately preceding the withdrawal. For example, if you withdrew 10% of the Accumulation Value, your Guaranteed Amount will be reduced by 10%.

Please note that benefits payable under the IPR 2.0 are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third–party guarantees are involved.

The Guaranteed Amount under the IPR 2.0 is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(i) For the 10, 11, 12, 13, 14, or 15 year Holding Periods: The Guaranteed Amount will equal 100% of the sum of all premium payments made in the first Policy Year, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) For the 20 year Holding Period: The Guaranteed Amount will equal 150% of the sum of all premium payments made in the first Policy Year, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) IPR Reset:

You can decide to reset to increase the Guaranteed Amount under the IPR 2.0. You may request to reset the Guaranteed Amount at any time while the IPR 2.0 is in effect as long as (a) the Owner (oldest Owner, if the policy is jointly owned) and the Annuitant (oldest Annuitant, if there are joint Annuitants) are age 75 or younger (for the 10, 11, 12, 13, 14 and 15 year Holding Periods), or age 70 or younger (for the 20 year Holding Period and (b) prior to the reset, the Accumulation Value or 150% of the Accumulation Value (for the 20 year Holding Period) is greater than the Guaranteed Amount. For a reset, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset (the "Rider Reset Effective Date") and at such time, the Guaranteed Amount will be increased to equal the Accumulation Value (for 10,11,12,13,14 and 15 year Holding Periods) or 150% of the Accumulation Value (for the 20 year Holding Period) on that date. After the reset(s), Guaranteed Amount Proportional Reductions still apply during the new Holding Period. Additionally, upon reset, the terms of the IPR Death Benefit for the 20 year Holding Period are also reset so that the Owner must hold the rider for the new waiting period (within two years of the new Holding Period End Date), for the IPR Death Benefit to equal the Guaranteed Amount; if the death of the Owner is earlier than within two years of the new Holding Period End Date, the IPR Death Benefit will be the Accumulation Value as of the Rider Reset Effective Date less any proportional withdrawals. We may also set a new charge (not to exceed the guaranteed maximum charge in the "FEE TABLE") for the IPR 2.0 and the Rider Risk Charge Adjustment on the Rider Reset Effective Date. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 and Investment Preservation Rider 5.0", and the Rate Sheet Prospectus Supplement for current charges, and "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 (Cancellation Charge)"). In addition, upon reset, your allocation restrictions may change. When you reset, a new rider Holding Period with the same duration as the original rider Holding Period starts. That means, for example, if you purchase IPR 2.0 with a 12 year Holding Period, and you elect to reset in policy year four (4), a new 12 year Holding Period will begin on the Policy Anniversary immediately following the date we receive your request to reset. You will not be eligible to receive a one–time adjustment to your Accumulation Value until the Policy Anniversary following the end of the new rider Holding Period. **We can suspend or discontinue the ability to reset the Guaranteed Amount at any time in our sole discretion on a nondiscriminatory basis. If we decide to suspend or discontinue the ability to reset the Guaranteed Amount, we will promptly notify you in writing.** Please contact your registered representative for more information.

A policyowner may cancel an IPR Reset at any time prior to or within thirty (30) days after the Rider Reset Effective Date. If you cancel your request to reset, no change will be made to the Guaranteed Amount, Holding Period, Holding Period End Date, Rider Effective Date (if previously reset, the Rider Reset Effective Date), allocation restrictions, IPR 2.0 Charge or Rider Risk Charge Adjustment, if applicable.

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If you purchased IPR 2.0, you will be allowed to allocate your premium payments to the Investment Divisions, an available Asset Allocation Model and the DCA Advantage Account subject to the restrictions set forth in APPENDIX 1B.

The Fixed Account is not available while the IPR 2.0 is in effect and prior to the Holding Period End Date. Upon any termination of the IPR 2.0, the Fixed Account will be an available investment option. If you purchase the IPR 2.0, there will be limitations on how you allocate to the Investment Divisions. You may allocate your premium payment to Investment Divisions in the Asset Allocation Categories in accordance with the specified thresholds, or to one of the available Asset Allocation Models. Individual transfers between Investment Divisions, the DCA Advantage Account and/or Asset Allocation Models are not allowed. If you wish to complete an individual transfer between the Investment Divisions, or change to a different Asset Allocation Model (if available), you must send a reallocation form to the VPSC at one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus. Each policy quarter, we will automatically rebalance your current allocations to conform to your most recent allocation instructions. The Investment Division restrictions associated with the IPR 2.0 seek to moderate overall volatility or hedge against down–market volatility and may limit your participation in positive investment performance. Other investment options that are available if you do not purchase the IPR 2.0 may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with the IPR 2.0 meet your investment objectives and risk tolerance. **The Asset Allocation Categories and the Asset Allocation Models available with IPR 2.0 are set forth in APPENDIX 1B.** 

If you choose an IPR Reset, the restrictions on investment allocations may change. These changes could include an adjustment to the minimum and/or maximum allocation percentages available under the Asset Allocation Categories, adding or removing Asset Allocation Categories, adding or removing Asset Allocation Models, or discontinuing the availability of the DCA Advantage Account.

With the IPR 2.0, you do not have to surrender the policy to receive any applicable benefit. You will be eligible to receive any benefit payable on the Policy Anniversary for the Holding Period you chose after the later of the Policy Date or the most recent reset date. You do not need to take any action. We will inform you in writing if you are eligible to receive the one–time adjustment to your Accumulation Value under the IPR 2.0. We will also inform you of your options in the event that such one–time adjustment is made to your Accumulation Value which are to (i) surrender the policy and receive the adjusted Accumulation Value (which may be subject to surrender charges), or (ii) continue the policy at the adjusted Accumulation Value, which is subject to market fluctuation. If you are eligible to receive an adjustment, we will credit an amount to your Accumulation Value pro rata in accordance with your allocations currently on file. If you surrender the policy, amounts paid to you under the IPR 2.0 may be taxable and you may be subject to a 10% penalty tax if such amounts are paid before you reach age 59½.

You may cancel the IPR 2.0 within thirty (30) days after delivery of the policy without incurring the Rider Risk Charge Adjustment. To cancel, you must return the IPR 2.0 to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel the IPR 2.0 and refund any IPR 2.0 charges which may have been deducted. After this 30–day period, you still have the right to discontinue the IPR 2.0, however, we will deduct a Rider Risk Charge Adjustment from your Accumulation Value and we will not refund any IPR 2.0 charges that may have been deducted. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 (Cancellation Charge).") Certain jurisdictions may not permit us to assess a Rider Risk Charge Adjustment; for more information, contact your registered representative or see "APPENDIX 3 – State Variations." The cancellation of the IPR 2.0 after the 30–day period will be effective as of the date VPSC receives your cancellation request. You should consider the cost of cancelling the IPR 2.0 prior to purchasing it.

The IPR 2.0 was available with all Non–Qualified, IRA, SEP IRA, Simple IRA, Roth IRA, Keogh and Pension policies if the Owner (oldest Owner, if the policy is jointly owned) and the Annuitant (oldest Annuitant, if the policy has joint Annuitants) are age 75 or younger (70 or younger for the 20–year Holding Period) on the Rider Effective Date. The rider was not available on TSA and Inherited IRA policies.

The IPR 2.0 will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to receive a potential one–time adjustment to your Accumulation Value. Therefore, you should purchase the IPR 2.0 only if you intend to keep the policy for at least the rider Holding Period you choose (10, 11, 12, 13, 14, 15 or 20 years).

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In most jurisdictions, the IPR 2.0 will terminate if an ownership change or assignment of the policy is made, other than as explicitly described in the rider.

Any withdrawal reduces the Guaranteed Amount proportionally and the amount of charges assessed for the IPR 2.0. While the IPR 2.0 is in effect, withdrawals will be deducted proportionally from the Allocation Options. However, please note that charges assessed for the IPR 2.0 prior to the date of any withdrawal (including required minimum distributions from IRAs) will not be retroactively adjusted. **It is important to note that if you take any withdrawals (including required minimum distributions from IRAs) while the IPR 2.0 is in effect, you may not be able to receive the full value of the IPR 2.0. The reduction in the Guaranteed Amount may be significant and could be greater than the actual amount withdrawn. This may occur when you request a withdrawal at a time when your Accumulation Value is lower than the Guaranteed Amount (see example below). As a result, the IPR 2.0 may not be appropriate for you if you intend to take withdrawals (including required minimum distributions from IRAs) before the end of the Holding Period you choose. You should consult your tax advisor if you have any questions about the use of the IPR 2.0 in your tax situation.** 

We have set forth below an example of how the benefit from the IPR 2.0 may be realized and how withdrawals (including required minimum distributions from IRAs) will impact the Guaranteed Amount and how we calculate the Guaranteed Amount Proportional Reduction. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR 2.0 with a 10, 11, 12, 13, 14, or 15 year Holding Period is purchased at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(4) A withdrawal of $20,000 is made in the eighth policy year;

&nbsp;&nbsp;&nbsp;&nbsp;(5) The Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(6) As of the Holding Period End Date, the Accumulation Value on the Policy Anniversary corresponding to the Holding Period you chose, has decreased to $50,000.

The Guaranteed Amount when we issued the policy was $100,000. When the withdrawal was made in the eighth Policy Year, we reduced the Guaranteed Amount by the amount of the Guaranteed Amount Proportional Reduction. We calculated the amount of the Guaranteed Amount Proportional Reduction by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the Guaranteed Amount immediately preceding the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Guaranteed Amount Proportional Reduction = ($20,000/$80,000) x $100,000 = $25,000

To determine the new Guaranteed Amount after the withdrawal, we subtracted the amount of the Guaranteed Amount Proportional Reduction from the initial Guaranteed Amount: ($100,000 – $25,000) = $75,000.

On the Policy Anniversary for the Holding Period you chose, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $75,000. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $25,000.

If you had chosen the 20 year Holding Period, your IPR Guarantee Percentage would have been 150% and the Guaranteed Amount when we issued the policy would have been $150,000. Then the Guaranteed Amount Proportional reduction in year eight would have been ($20,000/$80,000) x $150,000 = $37,500 and the Guaranteed Amount after the Guaranteed Amount Proportional Reduction would have been $112,500. On the Policy Anniversary for the 20 year Holding Period, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $112,500. Therefore, you would have been able to receive a one-time adjustment of $62,500.

After the adjustment is paid, the rider will end (See "DESCRIPTION OF BENEFITS–Investment Preservation Rider 2.0–IPR 2.0 Death Benefit" below regarding the terms under which such death benefit may continue after the IPR 2.0 ends). You would not have been eligible to receive this adjustment to your Accumulation Value if you had not purchased the IPR 2.0 Rider.

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Upon your death, the IPR 2.0 and the policy will terminate unless your spouse chooses to continue the policy. Your spouse must be the sole primary beneficiary to continue the IPR 2.0 and the policy. If your spouse chooses to continue the IPR 2.0 and the policy, no death benefit proceeds will be paid upon your death.

*IPR 2.0 Death Benefit*

The IPR 2.0 Death Benefit is available in jurisdictions where approved (see *"APPENDIX 3 – State Variations"* for more information).

*For the 10, 11, 12, 13, 14 and 15 year Holding Periods:* 

If the Owner dies on or before the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 2.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 2.0 Death Benefit in (b) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 2.0 Death Benefit immediately preceding the withdrawal.

*For the 20 year Holding Period:* 

If the Owner dies within the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies before the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(c).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 2.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A portion of the Guaranteed Amount which is determined by dividing the Guaranteed Amount by 150%; or

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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;(c) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 2.0 Death Benefit in (c) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 2.0 Death Benefit immediately preceding the withdrawal.

*Payment of a death benefit terminates the IPR 2.0.* 

**It is important to note that for purposes of calculating the Guaranteed Amount under the IPR 2.0 Death Benefit, Withdrawals (including required minimum distributions) proportionally reduce the Guaranteed Amount while additional premium payments increase the Guaranteed Amount dollar for dollar. This means that under certain market conditions, a withdrawal could have a much more significant impact on the Guaranteed Amount (negatively) than would a premium payment made in the same amount (positively).** 

For example, assume that you are in your first Policy Year. You made an initial premium payment of $100,000, so your Guaranteed Amount is $100,000. Assume further, however, that your Accumulation Value immediately dropped due to negative market performance and is now only $80,000. If you requested a withdrawal of $20,000 at a time where your Accumulation Value was less that the Guaranteed Amount, the Guaranteed Amount Proportional Reduction would operate to lower the Guaranteed Amount by $25,000. Your Guaranteed Amount after the withdrawal would be $75,000. Although you only requested a withdrawal of $20,000, it resulted in a $25,000 reduction of the benefit guaranteed by the IPR 2.0. If, however, there had been no negative market performance and you made a premium payment of $20,000 instead of a withdrawal, the effect on your Guaranteed Amount would be to increase your Guaranteed Amount by $20,000 so that it is now $120,000. A withdrawal, therefore, may have a greater impact on the value of the benefit than would a payment made in the same amount. Please consult your registered representative before making a withdrawal to discuss its impact on your IPR benefit.

***Investment Preservation Rider 3.0 (IPR 3.0)***

The Investment Preservation Rider 3.0 ("IPR 3.0") is no longer available for purchase and was available only at the time of application. While IPR 3.0 is in effect, you may only make premium payments to the policy (a) in the first Policy Year or (b) after the Holding Period End Date. The IPR 3.0 allows you to choose among seven (7) different Holding Periods. If you purchase the IPR 3.0, you will be eligible to receive a one–time adjustment to your Accumulation Value in the event that your Accumulation Value is less than the amount guaranteed under the IPR 3.0 on the applicable policy anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose. You may request to reset the guaranteed amount (an "IPR Reset") under certain circumstances, as described below. Certain features of the IPR 3.0 relating to the 20 year Holding Period and the IPR 3.0 Death Benefit may not be available in all jurisdictions; contact your registered representative or see "APPENDIX 3 – State Variations" for more information.

The IPR 3.0 ends on the applicable policy anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose (See "DESCRIPTION OF BENEFITS–Investment Preservation Rider 3.0–IPR 3.0 Death Benefit" regarding the terms under which such death benefit may continue after the IPR 3.0 ends). The applicable policy anniversary depends on the Holding Period you choose. While the IPR 3.0 is in effect and prior to the Holding Period End Date, we will deduct a charge from your Accumulation Value on each policy quarter. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 and Investment Preservation Rider 5.0" and the Rate Sheet Prospectus Supplement for current charges.) When you make a withdrawal (including required minimum distributions from IRAs), we will reduce the amount that is guaranteed (the "Guaranteed Amount") under the IPR 3.0 proportionally ("Guaranteed Amount Proportional Reduction"). A Guaranteed Amount Proportional Reduction is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the Guaranteed Amount immediately preceding the withdrawal. For example, if you withdrew 10% of the Accumulation Value, your Guaranteed Amount will be reduced by 10%.

Please note that benefits payable under the IPR 3.0 are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third–party guarantees are involved.

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The Guaranteed Amount under the IPR 3.0 is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(i) For the 10, 11, 12, 13, 14, or 15 year Holding Periods: The Guaranteed Amount will equal 100% of the sum of all premium payments made in the first Policy Year, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) For the 20 year Holding Period: The Guaranteed Amount will equal 150% of the sum of all premium payments made in the first Policy Year, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) IPR Reset:

You can decide to reset to increase the Guaranteed Amount under the IPR 3.0. You may request to reset the Guaranteed Amount at any time while the IPR 3.0 is in effect as long as (a) the Owner (oldest Owner, if the Policy is jointly owned) and the Annuitant (oldest Annuitant, if there are joint Annuitants) are age 75 or younger (for the 10, 11, 12, 13, 14 and 15 year Holding Periods), or age 70 or younger (for the 20 year Holding Period) and (b) prior to the reset, the Accumulation Value or 150% of the Accumulation Value (for the 20 year Holding Period) is greater than the Guaranteed Amount. For a reset, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset (the "Rider Reset Effective Date") and, at such time, the Guaranteed Amount will be increased to equal the Accumulation Value (for 10, 11, 12,13, 14 and 15 year Holding Periods) or 150% of the Accumulation Value (for the 20 year Holding Period) on that date. After the reset(s), Guaranteed Amount Proportional Reductions still apply during the new Holding Period. We may also set a new charge (not to exceed the guaranteed maximum charge in the "FEE TABLE") for the IPR 3.0 and the Rider Risk Charge Adjustment on the Rider Reset Effective Date. Additionally, upon reset, the terms of the IPR Death Benefit for the 20 year Holding Period are also reset so that the Owner must hold the rider for the new minimum waiting period (within two years of the new Holding Period End Date), for the IPR Death Benefit to equal the Guaranteed Amount; if the death of the Owner is earlier than within two years of the new Holding Period End Date, the IPR Death Benefit will be the Accumulation Value as of the Rider Reset Effective Date less any proportional withdrawals. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 and Investment Preservation Rider 5.0", and the Rate Sheet Prospectus Supplement for current charges, and "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 (Cancellation Charge)"). In addition, upon reset, your allocation restrictions may change. When you reset, a new rider Holding Period with the same duration as the original rider Holding Period starts. That means, for example, if you purchase IPR 3.0 with a 12 year Holding Period, and you elect to reset in policy year four (4), a new 12 year Holding Period will begin on the Policy Anniversary immediately following the date we receive your request to reset. You will not be eligible to receive a one–time adjustment to your Accumulation Value until the Policy Anniversary following the end of the new rider Holding Period. **We can suspend or discontinue the ability to reset the Guaranteed Amount at any time in our sole discretion on a nondiscriminatory basis. If we decide to suspend or discontinue the ability to reset the Guaranteed Amount, we will promptly notify you in writing.** Please contact your registered representative for more information.

A policyowner may cancel an IPR Reset at any time prior to or within thirty (30) days after the Rider Reset Effective Date. If you cancel your request to reset, no change will be made to the Guaranteed Amount, Holding Period, Holding Period End Date, Rider Effective Date (if previously reset, the Rider Reset Effective Date), allocation restrictions, the IPR 3.0 Charge or Rider Risk Charge Adjustment, if applicable.

If you purchased IPR 3.0, you will be allowed to allocate your premium payments to the Investment Divisions, an available Asset Allocation Model and the DCA Advantage Account subject to the restrictions set forth in APPENDIX 1C.

The Fixed Account is not available while the IPR 3.0 is in effect and prior to the Holding Period End Date. Upon any termination of the IPR 3.0, the Fixed Account will be an available investment option. If you purchase the IPR 3.0, there will be limitations on how you allocate to the Investment Divisions. You may allocate your premium payment to Investment Divisions in the Asset Allocation Categories in accordance with the specified thresholds, or to one of the

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available Asset Allocation Models. Individual transfers between Investment Divisions, the DCA Advantage Account and/or Asset Allocation Models are not allowed. If you wish to complete an individual transfer between the Investment Divisions, or change to a different Asset Allocation Model (if available), you must send a reallocation form to the VPSC at one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus. Each policy quarter, we will automatically rebalance your current allocations to conform to your most recent allocation instructions. The Investment Division restrictions associated with the IPR 3.0 seek to moderate overall volatility or hedge against down–market volatility and may limit your participation in positive investment performance. Other investment options that are available if you do not purchase the IPR 3.0 may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with the IPR 3.0 meet your investment objectives and risk tolerance. **The Asset Allocation Categories and the Asset Allocation Models available with IPR 3.0 are set forth in *APPENDIX 1C.***

If you choose an IPR Reset, the restrictions on investment allocations may change. These changes could include an adjustment to the minimum and/or maximum allocation percentages available under the Asset Allocation Categories, adding or removing Asset Allocation Categories, adding or removing Asset Allocation Models, or discontinuing the availability of the DCA Advantage Account.

With the IPR 3.0, you do not have to surrender the policy to receive any applicable benefit. You will be eligible to receive any benefit payable on the Policy Anniversary for the Holding Period you chose after the later of the Policy Date or the most recent reset date. You do not need to take any action. We will inform you in writing if you are eligible to receive the one–time adjustment to your Accumulation Value under the IPR 3.0. We will also inform you of your options in the event that such one–time adjustment is made to your Accumulation Value which are to (i) surrender the policy and receive the adjusted Accumulation Value (which may be subject to surrender charges), or (ii) continue the policy at the adjusted Accumulation Value, which is subject to market fluctuation. If you are eligible to receive an adjustment, we will credit an amount to your Accumulation Value pro rata in accordance with your allocations currently on file. If you surrender the policy, amounts paid to you under the IPR 3.0 may be taxable and you may be subject to a 10% penalty tax if such amounts are paid before you reach age 59½.

You may cancel the IPR 3.0 within thirty (30) days after delivery of the policy without incurring the Rider Risk Charge Adjustment. To cancel, you must return the IPR 3.0 to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel the IPR 3.0 and refund any IPR 3.0 charges which may have been deducted. After this 30–day period, you still have the right to discontinue the IPR 3.0, however, we will deduct a Rider Risk Charge Adjustment from your Accumulation Value and we will not refund any IPR 3.0 charges that may have been deducted. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 (Cancellation Charge).") Certain jurisdictions may not permit us to assess a Rider Risk Charge Adjustment; for more information, contact your registered representative or see "APPENDIX 3 –State Variations". The cancellation of the IPR 3.0 after the 30– day period will be effective as of the date VPSC receives your cancellation request. You should consider the cost of cancelling the IPR 3.0 prior to purchasing it.

The IPR 3.0 was available with all Non–Qualified, IRA, SEP IRA, Simple IRA, Roth IRA, Keogh and Pension policies if the Owner (oldest Owner, if the policy is jointly owned) and the Annuitant (oldest Annuitant, if the policy had joint Annuitants) are age 75 or younger (70 or younger for the 20–year Holding Period) on the Rider Effective Date. The rider was not available on TSA and Inherited IRA policies.

The IPR 3.0 will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to receive a potential one–time adjustment to your Accumulation Value. Therefore, you should purchase the IPR 3.0 only if you intend to keep the policy for at least the rider Holding Period you choose (10, 11, 12, 13, 14, 15 or 20 years).

In most jurisdictions, the IPR 3.0 will terminate if an ownership change or assignment of the policy is made, other than as explicitly described in the rider.

Any withdrawal reduces the Guaranteed Amount proportionally and the amount of charges assessed for the IPR 3.0. While the IPR 3.0 is in effect, withdrawals will be deducted proportionally from the Allocation Options. However, please note that charges assessed for the IPR 3.0 prior to the date of any withdrawal (including required minimum distributions from IRAs) will not be retroactively adjusted. **It is important to note that if you make any withdrawals** 

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**(including required minimum distributions from IRAs) while the IPR 3.0 is in effect, you may not be able to receive the full value of the IPR 3.0. The reduction in the Guaranteed Amount may be significant and could be greater than the actual amount withdrawn. This may occur when you request a withdrawal at a time when your Accumulation Value is lower than the Guaranteed Amount (see example below). As a result, the IPR 3.0 may not be appropriate for you if you intend to take withdrawals (including required minimum distributions from IRAs) before the end of the Holding Period you choose. You should consult your tax advisor if you have any questions about the use of the IPR 3.0 in your tax situation.** 

We have set forth below an example of how the benefit from the IPR 3.0 may be realized and how withdrawals (including required minimum distributions from IRAs) will impact the Guaranteed Amount and how we calculate the Guaranteed Amount Proportional Reduction. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR 3.0 with a 10, 11, 12, 13, 14, or 15 year Holding Period is purchased at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(4) A withdrawal of $20,000 is made in the eighth policy year;

&nbsp;&nbsp;&nbsp;&nbsp;(5) The Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(6) As of the Holding Period End Date, the Accumulation Value on the Policy Anniversary corresponding to the Holding Period you chose has decreased to $50,000.

The Guaranteed Amount when we issued the policy was $100,000. When the withdrawal was made in the eighth Policy Year, we reduced the Guaranteed Amount by the amount of the Guaranteed Amount Proportional Reduction. We calculated the amount of the Guaranteed Amount Proportional Reduction by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the Guaranteed Amount immediately preceding the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Guaranteed Amount Proportional Reduction = ($20,000/$80,000) x $100,000 = $25,000

To determine the new Guaranteed Amount after the withdrawal, we subtracted the amount of the Guaranteed Amount Proportional Reduction from the initial Guaranteed Amount: ($100,000 – $25,000) = $75,000.

On the Policy Anniversary for the Holding Period you chose, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $75,000. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $25,000.

If you had chosen the 20 year Holding Period, your IPR Guarantee Percentage would have been 150% and the Guaranteed Amount when we issued the policy would have been $150,000. Then the Guaranteed Amount Proportional reduction in year eight would have been ($20,000/$80,000) x $150,000 = $37,500 and the Guaranteed Amount after the Guaranteed Amount Proportional Reduction would have been $112,500. On the Policy Anniversary for the 20 year Holding Period, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $112,500. Therefore, you would have been able to receive a one-time adjustment of $62,500.

After the adjustment is paid, the rider will end (See "DESCRIPTION OF BENEFITS–Investment Preservation Rider 3.0–IPR 3.0 Death Benefit" regarding the terms under which such death benefit may continue after the IPR 3.0 ends). You would not have been eligible to receive this adjustment to your Accumulation Value if you had not purchased the IPR 3.0 Rider.

Upon your death, the IPR 3.0 and the policy will terminate unless your spouse chooses to continue the policy. Your spouse must be the sole primary beneficiary in order to continue the IPR 3.0 and the policy. If your spouse chooses to continue the IPR 3.0 and the policy, no death benefit proceeds will be paid upon your death.

*IPR 3.0 Death Benefit*

The IPR 3.0 Death Benefit is available in jurisdictions where approved (see *"APPENDIX 3 – State Variations"* for more information).

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*For the 10, 11, 12, 13, 14 and 15 year Holding Periods:* 

If the Owner dies on or before the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 3.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 3.0 Death Benefit in (b) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 3.0 Death Benefit immediately preceding the withdrawal.

*For the 20 year Holding Period:* 

If the Owner dies within the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies before the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(c).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 3.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A portion of the Guaranteed Amount which is determined by dividing the Guaranteed Amount by 150%; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 3.0 Death Benefit in (c) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 3.0 Death Benefit immediately preceding the withdrawal.

Payment of a death benefit terminates the IPR 3.0.

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**It is important to note that for purposes of calculating the Guaranteed Amount under the IPR 3.0 Death Benefit, Partial Withdrawals (including required minimum distributions) proportionally reduce the Guaranteed Amount while additional premium payments increase the Guaranteed Amount dollar for dollar. This means that under certain market conditions, a Partial Withdrawal could have a much more significant impact on the Guaranteed Amount (negatively) than would a premium payment made in the same amount (positively).** 

For example, assume that you are in your first Policy Year. You made an initial premium payment of $100,000, so your Guaranteed Amount is $100,000. Assume further, however, that your Accumulation Value immediately dropped due to negative market performance and is now only $80,000. If you requested a withdrawal of $20,000 at a time where your Accumulation Value was less that the Guaranteed Amount, the Guaranteed Amount Proportional Reduction would operate to lower the Guaranteed Amount by $25,000. Your Guaranteed Amount after the withdrawal would be $75,000. Although you only requested a withdrawal of $20,000, it resulted in a $25,000 reduction of the benefit guaranteed by the IPR 3.0. If, however, there had been no negative market performance and you made a premium payment of $20,000 instead of a withdrawal, the effect on your Guaranteed Amount would be to increase your Guaranteed Amount by $20,000 so that it is now $120,000. A withdrawal, therefore, may have a greater impact on the value of the benefit than would a payment made in the same amount. Please consult your registered representative before making a withdrawal to discuss its impact on your IPR benefit.

***Investment Preservation Rider 4.0 (IPR 4.0)***

The Investment Preservation Rider 4.0 ("IPR 4.0") is no longer available for purchase and was available only at the time of application. While IPR 4.0 is in effect, you may only make premium payments to the policy (a) in the first Policy Year or (b) after the Holding Period End Date. The IPR 4.0 allows you to choose among six (6) different Holding Periods. If you purchase the IPR 4.0, you will be eligible to receive a one–time adjustment to your Accumulation Value in the event that your Accumulation Value is less than the amount guaranteed under the IPR 4.0 on the applicable policy anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose. You may request to reset the guaranteed amount (an "IPR Reset") under certain circumstances, as described below. Certain features of the IPR 4.0 relating to the 20 year Holding Period and the IPR 4.0 Death Benefit may not be available in all jurisdictions; contact your registered representative or see "APPENDIX 3 – State Variations" for more information.

The IPR 4.0 ends on the applicable policy anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose (See "DESCRIPTION OF BENEFITS–Investment Preservation Rider 4.0–IPR 4.0 Death Benefit" regarding the terms under which such death benefit may continue after the IPR 4.0 ends). The applicable policy anniversary depends on the Holding Period you choose. While the IPR 4.0 is in effect and prior to the Holding Period End Date, we will deduct a charge from your Accumulation Value on each policy quarter. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0, Investment Preservation Rider 5.0" and the Rate Sheet Prospectus Supplement for current charges.) When you make a withdrawal (including required minimum distributions from IRAs), we will reduce the amount that is guaranteed (the "Guaranteed Amount") under the IPR 4.0 proportionally ("Guaranteed Amount Proportional Reduction"). A Guaranteed Amount Proportional Reduction is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the Guaranteed Amount immediately preceding the withdrawal. For example, if you withdrew 10% of the Accumulation Value, your Guaranteed Amount will be reduced by 10%.

Please note that benefits payable under the IPR 4.0 are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third–party guarantees are involved.

The Guaranteed Amount under the IPR 4.0 is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(i) For the 10, 12, 13, 14, or 15 year Holding Periods: The Guaranteed Amount will equal 100% of the sum of all premium payments made in the first Policy Year, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) For the 20 year Holding Period: The Guaranteed Amount will equal 150% of the sum of all premium payments made in the first Policy Year, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

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

&nbsp;&nbsp;&nbsp;&nbsp;(iii) IPR Reset:

You can decide to reset to increase the Guaranteed Amount under the IPR 4.0. You may request to reset the Guaranteed Amount at any time while the IPR 4.0 is in effect as long as (a) the Owner (oldest Owner, if the Policy is jointly owned) and the Annuitant (oldest Annuitant, if there are joint Annuitants) are age 75 or younger (for the 10, 12, 13, 14 and 15 year Holding Periods), or age 70 or younger (for the 20 year Holding Period) and (b) prior to the reset, the Accumulation Value or 150% of the Accumulation Value (for the 20 year Holding Period) is greater than the Guaranteed Amount. For a reset, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset (the "Rider Reset Effective Date") and, at such time, the Guaranteed Amount will be increased to equal the Accumulation Value (for 10, 12, 13, 14 and 15 year Holding Periods) or 150% of the Accumulation Value (for the 20 year Holding Period) on that date. After the reset(s), Guaranteed Amount Proportional Reductions still apply during the new Holding Period. Additionally, upon reset, the terms of the IPR Death Benefit for the 20 year Holding Period are also reset so that the Owner must hold the rider for a new minimum waiting period (within two years of the new Holding Period End Date), for the IPR Death Benefit to equal the Guaranteed Amount; if the death of the Owner is earlier than within two years of the new Holding Period End Date, the IPR Death Benefit will be the Accumulation Value as of the Rider Reset Effective Date less any proportional withdrawals. We may also set a new charge (not to exceed the guaranteed maximum charge in the "FEE TABLE") for the IPR 4.0 and the Rider Risk Charge Adjustment on the Rider Reset Effective Date. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0, Investment Preservation Rider 5.0", and the Rate Sheet Prospectus Supplement for current charges, and "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0 or IPR 4.0 (Cancellation Charge)"). In addition, upon reset, your allocation restrictions may change. When you reset, a new rider Holding Period with the same duration as the original rider Holding Period starts, that means, for example, if you purchase IPR 4.0 with a 12 year Holding Period, and you elect to reset in policy year four (4), a new 12 year Holding Period will begin on the Policy Anniversary immediately following the date we receive your request to reset. You will not be eligible to receive a one–time adjustment to your Accumulation Value until the Policy Anniversary following the end of the new rider Holding Period. **We can suspend or discontinue the ability to reset the Guaranteed Amount at any time in our sole discretion on a nondiscriminatory basis. If we decide to suspend or discontinue the ability to reset the Guaranteed Amount, we will promptly notify you in writing.** Please contact your registered representative for more information.

A policyowner may cancel an IPR Reset at any time prior to or within thirty (30) days after the Rider Reset Effective Date. If you cancel your request to reset, no change will be made to the Guaranteed Amount, Holding Period, Holding Period End Date, Rider Effective Date (if previously reset, the Rider Reset Effective Date), allocation restrictions, the IPR 4.0 Charge or Rider Risk Charge Adjustment, if applicable.

If you purchase IPR 4.0, you will be allowed to allocate your premium payments to the Investment Divisions, an available Asset Allocation Model and the DCA Advantage Account subject to the restrictions set forth in APPENDIX 1C and APPENDIX 1D.

The Fixed Account is not available while the IPR 4.0 is in effect and prior to the Holding Period End Date. Upon any termination of the IPR 4.0, the Fixed Account will be an available investment option. If you purchase the IPR 4.0, there will be limitations on how you allocate to the Investment Divisions. You may allocate your premium payment to Investment Divisions in the Asset Allocation Categories in accordance with the specified thresholds, or to one of the available Asset Allocation Models. Individual transfers between Investment Divisions, the DCA Advantage Account and/or Asset Allocation Models are not allowed. If you wish to complete an individual transfer between the Investment Divisions, or change to a different Asset Allocation Model (if available), you must send a reallocation form to the VPSC at one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus. Each policy quarter, we will automatically rebalance your current allocations to conform to your most recent allocation instructions. The Investment Division restrictions associated with the IPR 4.0 seek to moderate overall volatility or hedge against down–market volatility and may limit your participation in positive investment performance. Other investment options that are available if you do not purchase the IPR 4.0 may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with the

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IPR 4.0 meet your investment objectives and risk tolerance. The Asset Allocation Categories and the Asset Allocation Models available with IPR 4.0 are set forth in APPENDIX 1C and APPENDIX 1D.

If you choose an IPR Reset, the restrictions on investment allocations may change. These changes could include an adjustment to the minimum and/or maximum allocation percentages available under the Asset Allocation Categories, adding or removing Asset Allocation Categories, adding or removing Asset Allocation Models, or discontinuing the availability of the DCA Advantage Account.

With the IPR 4.0, you do not have to surrender the policy to receive any applicable benefit. You will be eligible to receive any benefit payable on the Policy Anniversary for the Holding Period you chose after the later of the Policy Date or the most recent reset date. You do not need to take any action. We will inform you in writing if you are eligible to receive the one–time adjustment to your Accumulation Value under the IPR 4.0. We will also inform you of your options in the event that such one–time adjustment is made to your Accumulation Value which are to (i) surrender the policy and receive the adjusted Accumulation Value (which may be subject to surrender charges), or (ii) continue the policy at the adjusted Accumulation Value, which is subject to market fluctuation. If you are eligible to receive an adjustment, we will credit an amount to your Accumulation Value pro rata in accordance with your allocations currently on file. If you surrender the policy, amounts paid to you under the IPR 4.0 may be taxable and you may be subject to a 10% penalty tax if such amounts are paid before you reach age 59½.

You may cancel the IPR 4.0 within thirty (30) days after delivery of the policy without incurring the Rider Risk Charge Adjustment. To cancel, you must return the IPR 4.0 to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel the IPR 4.0 and refund any IPR 4.0 charges which may have been deducted. After this 30–day period, you still have the right to discontinue the IPR 4.0, however, we will deduct a Rider Risk Charge Adjustment from your Accumulation Value and we will not refund any IPR 4.0 charges that may have been deducted. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 (Cancellation Charge).") Certain jurisdictions may not permit us to assess a Rider Risk Charge Adjustment; for more information, contact your registered representative or see "APPENDIX 3 –State Variations". The cancellation of the IPR 4.0 after the 30 day period will be effective as of the date VPSC receives your cancellation request. You should consider the cost of cancelling the IPR 4.0 prior to purchasing it.

The IPR 4.0 is available with all Non–Qualified (other than Inherited Non–Qualified policies), IRA, SEP IRA, Simple IRA, Roth IRA, Keogh and Pension policies if the Owner (oldest Owner, if the policy is jointly owned) and the Annuitant (oldest Annuitant, if the policy had joint Annuitants) are age 75 or younger (70 or younger for the 20–year Holding Period) on the Rider Effective Date. The rider is not available on TSA, Inherited IRA, Inherited Roth IRA or Inherited Non–Qualified policies.

The IPR 4.0 will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to receive a potential one–time adjustment to your Accumulation Value. Therefore, you should purchase the IPR 4.0 only if you intend to keep the policy for at least the rider Holding Period you choose (10, 12, 13, 14, 15 or 20 years).

In most jurisdictions, the IPR 4.0 will terminate if an ownership change or assignment of the policy is made, other than as explicitly described in the rider.

Any withdrawal reduces the Guaranteed Amount proportionally and the amount of charges assessed for the IPR 4.0. While the IPR 4.0 is in effect, withdrawals will be deducted proportionally from the Allocation Options. However, please note that charges assessed for the IPR 4.0 prior to the date of any withdrawal (including required minimum distributions from IRAs) will not be retroactively adjusted. **It is important to note that if you make any withdrawals (including required minimum distributions from IRAs) while the IPR 4.0 is in effect, you may not be able to receive the full value of the IPR 4.0. The reduction in the Guaranteed Amount may be significant and could be greater than the actual amount withdrawn. This may occur when you request a withdrawal at a time when your Accumulation Value is lower than the Guaranteed Amount (see example below). As a result, the IPR 4.0 may not be appropriate for you if you intend to take withdrawals (including required minimum distributions from IRAs) before the end of the Holding Period you choose. You should consult your tax advisor if you have any questions about the use of the IPR 4.0 in your tax situation.** 

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We have set forth below an example of how the benefit from the IPR 4.0 may be realized and how withdrawals (including required minimum distributions from IRAs) will impact the Guaranteed Amount and how we calculate the Guaranteed Amount Proportional Reduction. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR 4.0 with a 10, 12, 13, 14, or 15 year Holding Period is purchased at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(4) A withdrawal of $20,000 is made in the eighth policy year;

&nbsp;&nbsp;&nbsp;&nbsp;(5) The Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(6) As of the Holding Period End Date, the Accumulation Value on the Policy Anniversary corresponding to the Holding Period you chose has decreased to $50,000.

The Guaranteed Amount when we issued the policy was $100,000. When the withdrawal was made in the eighth Policy Year, we reduced the Guaranteed Amount by the amount of the Guaranteed Amount Proportional Reduction. We calculated the amount of the Guaranteed Amount Proportional Reduction by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the Guaranteed Amount immediately preceding the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Guaranteed Amount Proportional Reduction = ($20,000/$80,000) x $100,000 = $25,000

To determine the new Guaranteed Amount after the withdrawal, we subtracted the amount of the Guaranteed Amount Proportional Reduction from the initial Guaranteed Amount: ($100,000 – $25,000) = $75,000.

On the Policy Anniversary for the Holding Period you chose, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $75,000. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $25,000.

If you had chosen the 20 year Holding Period, your IPR Guarantee Percentage would have been 150% and the Guaranteed Amount when we issued the policy would have been $150,000. Then the Guaranteed Amount Proportional reduction in year eight would have been ($20,000/$80,000) x $150,000 = $37,500 and the Guaranteed Amount after the Guaranteed Amount Proportional Reduction would have been $112,500. On the Policy Anniversary for the 20 year Holding Period, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $112,500. Therefore, you would have been able to receive a one-time adjustment of $62,500.

After the adjustment is paid, the rider will end (See "DESCRIPTION OF BENEFITS–Investment Preservation Rider 4.0–IPR 4.0 Death Benefit" regarding the terms under which such death benefit may continue after the IPR 4.0 ends). You would not have been eligible to receive this adjustment to your Accumulation Value if you had not purchased the IPR 4.0 Rider.

Upon your death, the IPR 4.0 and the policy will terminate unless your spouse chooses to continue the policy. Your spouse must be the sole primary beneficiary to continue the IPR 4.0 and the policy. If your spouse chooses to continue the IPR 4.0 and the policy, no death benefit proceeds will be paid upon your death.

*IPR 4.0 Death Benefit*

The IPR 4.0 Death Benefit is available in jurisdictions where approved (see *"APPENDIX 3 – State Variations"* for more information).

For the 10, 12, 13, 14 and 15 year Holding Periods:

If the Owner dies on or before the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 4.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 4.0 Death Benefit in (b) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 4.0 Death Benefit immediately preceding the withdrawal.

For the 20 year Holding Period:

If the Owner dies within the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies before the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(c).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 4.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A portion of the Guaranteed Amount which is determined by dividing the Guaranteed Amount by 150%; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 4.0 Death Benefit in (c) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 4.0 Death Benefit immediately preceding the withdrawal.

Payment of a death benefit terminates the IPR 4.0.

**It is important to note that for purposes of calculating the Guaranteed Amount under the IPR 4.0 Death Benefit, Partial Withdrawals (including required minimum distributions) proportionally reduce the Guaranteed Amount while additional premium payments increase the Guaranteed Amount dollar for dollar. This means that under certain market conditions, a Partial Withdrawal could have a much more significant impact on the Guaranteed Amount (negatively) than would a premium payment made in the same amount (positively).** 

For example, assume that you are in your first Policy Year. You made an initial premium payment of $100,000, so your Guaranteed Amount is $100,000. Assume further, however, that your Accumulation Value immediately dropped

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due to negative market performance and is now only $80,000. If you requested a withdrawal of $20,000 at a time where your Accumulation Value was less that the Guaranteed Amount, the Guaranteed Amount Proportional Reduction would operate to lower the Guaranteed Amount by $25,000. Your IPR Guaranteed Amount after the withdrawal would be $75,000. Although you only requested a withdrawal of $20,000, it resulted in a $25,000 reduction of the benefit guaranteed by the IPR 4.0. If, however, there had been no negative market performance and you made a premium payment of $20,000 instead of a withdrawal, the effect on your Guaranteed Amount would be to increase your Guaranteed Amount by $20,000 so that it is now $120,000. A withdrawal, therefore, may have a greater impact on the value of the benefit than would a payment made in the same amount. Please consult your registered representative before making a withdrawal to discuss its impact on your IPR benefit.

***Investment Preservation Rider 5.0 (IPR 5.0)***

The Investment Preservation Rider 5.0 ("IPR 5.0") is available only at the time of application. While IPR 5.0 is in effect, you may only make premium payments to the policy (a) in the first Policy Year or (b) after the Holding Period End Date. If you purchased your policy on or before November 12, 2023 the IPR 5.0 allowed you to choose among six (6) different Holding Periods. If you purchase your policy on or after November 13, 2023, the IPR allows you to choose among seven (7) Holding Periods. If you purchase the IPR 5.0, you will be eligible to receive a one–time adjustment to your Accumulation Value in the event that your Accumulation Value is less than the amount guaranteed under the IPR 5.0 on the applicable policy anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose.

The IPR 5.0 is available with all Non–Qualified (other than Inherited Non–Qualified policies), IRA, SEP IRA, Simple IRA, Roth IRA, Keogh and Pension policies if the Owner (oldest Owner, if the policy is jointly owned) and the Annuitant (oldest Annuitant, if the policy had joint Annuitants) are age 75 or younger (70 or younger for the 20–year Holding Period) on the Rider Effective Date. The rider is not available on TSA, Inherited IRA, Inherited Roth IRA or Inherited Non–Qualified policies.

With IPR 5.0, you do not have to surrender the policy to receive any applicable benefit. You will be eligible to receive any benefit payable on the Policy Anniversary for the Holding Period you chose after the later of the Policy Date or the most recent reset date. You do not need to take any action. We will inform you in writing if you are eligible to receive the one-time adjustment to your Accumulation Value under the IPR 5.0. We will also inform you of your options in the event that such one-time adjustment is made to your Accumulation Value which are to (i) surrender the policy and receive the adjusted Accumulation Value, or (ii) continue the policy at the adjusted Accumulation Value, which is subject to market fluctuation. If you are eligible to receive an adjustment, we will credit an amount to your Accumulation Value pro rata in accordance with your allocations currently on file. If you surrender the policy, amounts paid to you under the IPR 5.0 may be taxable and you may be subject to a 10% penalty tax if such amounts are paid before you reach age 59½.

You may request to reset the guaranteed amount (an "IPR 5.0 Reset") under certain circumstances, as described below. The IPR 5.0 ends on the applicable policy anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose (See "DESCRIPTION OF BENEFITS–Investment Preservation Rider–IPR 5.0 Death Benefit" regarding the terms under which such death benefit may continue after the IPR 5.0 ends). The applicable policy anniversary depends on the Holding Period you choose. While the IPR 5.0 is in effect and prior to the Holding Period End Date, we will deduct a charge from your Accumulation Value on each policy quarter. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Charge for the Investment Preservation Rider 5.0" and the Rate Sheet Prospectus Supplement for current charges.") When you make a withdrawal (including required minimum distributions from IRAs), we will reduce the amount that is guaranteed (the "Guaranteed Amount") under the IPR 5.0 proportionally ("Guaranteed Amount Proportional Reduction"). A Guaranteed Amount Proportional Reduction is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the Guaranteed Amount immediately preceding the withdrawal. For example, if you withdrew 10% of the Accumulation Value, your Guaranteed Amount under the IPR 5.0 will be reduced by 10%.

Please note that benefits payable under the IPR 5.0 are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third–party guarantees are involved.

*The IPR 5.0 Guaranteed Amount* 

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The Guaranteed Amount under the IPR 5.0 is as follows:

For each of the 7, 10, 12, 13, 14, 15 or 20 year Holding Periods, the Guaranteed Amount will equal the IPR Guarantee Percentage of the sum of all premium payments made in the first Policy Year, minus all Guaranteed Amount Proportional Reductions made during the rider Holding Period. The IPR Guarantee Percentage used to determine the Guarantee Amount under the IPR 5.0 is subject to change and will depend on when you purchase your policy. Once you purchase the policy, however, the IPR Guarantee Percentage will not change for the life of the IPR 5.0. **For current percentages applicable to new purchases, please see the Rate Sheet Prospectus Supplement. See APPENDIX 4 for IPR 5.0 Guarantee Percentages that applied to historical purchases.** 

*IPR 5.0 Reset:* 

You can decide to reset to increase the IPR Guaranteed Amount under the IPR 5.0. You may request to reset the Guaranteed Amount at any time while the IPR 5.0 is in effect as long as (a) the Owner (oldest Owner, if the Policy is jointly owned) and the Annuitant (oldest Annuitant, if there are joint Annuitants) are age 75 or younger (for the 7, 10, 12, 13, 14 and 15 year Holding Periods), or age 70 or younger (for the 20 year Holding Period) and (b) prior to the reset, the Accumulation Value multiplied by the IPR Guarantee Percentage (as reflected in your policy) is greater than the Guaranteed Amount. For a reset, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset (the "Rider Reset Effective Date") and, at such time, the Guaranteed Amount will be increased to the IPR Guarantee Percentage (as reflected in your IPR rider data page) of the Accumulation Value as of the Rider Reset Effective Date. After the reset(s), Guaranteed Amount Proportional Reductions still apply to the new Holding Period. Additionally, upon reset of policies purchased on or before November 12, 2023, the terms of the IPR Death Benefit for the 20 year Holding Period are also reset so that the Owner must hold the rider for the new minimum waiting period (within two years of the new Holding Period End Date), for the IPR Death Benefit to equal the Guaranteed Amount; if the death of the Owner is earlier than within two years of the new Holding Period End Date, the IPR Death Benefit will be the Accumulation Value as of the Rider Reset Effective Date less any proportional withdrawals. For resets under policies purchased on or after November 13, 2023, for any Holding Period selected, where the Guarantee Percentage under the IPR 5.0 is 101% or more, the terms of the IPR Death Benefit are also reset so that the death of the Owner must be within or after the last two years of the new Holding Period End Date in order for the IPR Death Benefit to equal the Guaranteed Amount; if the death of the Owner is earlier than within two years of the new Holding Period End Date, the IPR Death Benefit will be the Accumulation Value as of the Rider Reset Effective Date less any proportional withdrawals. Please be advised that the charge you pay for the IPR 5.0 after you elect to reset may be different than the charges you paid prior to the Rider Reset Effective Date; provided, however, that such charges will never exceed the guaranteed maximum charge set forth in the "FEE TABLE." Please see the Rate Sheet Prospectus Supplement that is in effect as of your Rider Reset Effective Date for the charges that will apply to your IPR after the reset. In addition, upon reset, your allocation restrictions may change. Please consult your registered representative before exercising your right to reset.

If you elect to reset, a new rider Holding Period with the same duration as the original rider Holding Period will begin as of the Rider Reset Effective Date. This means, for example, if you purchase IPR 5.0 with a 12 year Holding Period, and you elect to reset in policy year four (4), a new 12 year Holding Period will begin on the Policy Anniversary immediately following the date we receive your request to reset. You will not be eligible to receive a one–time adjustment to your Accumulation Value until the Policy Anniversary following the end of the new rider Holding Period. We can suspend or discontinue the ability to reset the Guaranteed Amount at any time in our sole discretion on a nondiscriminatory basis. If we decide to suspend or discontinue the ability to reset the Guaranteed Amount, we will promptly notify you in writing. Please contact your registered representative for more information.

A policyowner may cancel an IPR Reset at any time prior to or within thirty (30) days after the Rider Reset Effective Date. If you cancel your request to reset, no change will be made to the Guaranteed Amount, Holding Period, Holding Period End Date, Rider Effective Date (if previously reset, the Rider Reset Effective Date), allocation restrictions, the IPR 5.0 charge or Rider Risk Charge Adjustment, if applicable.

*Example of an IPR 5.0 Reset* 

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In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR 5.0 with a 10-year Holding Period is purchased at the time of application:

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) Your IPR Guarantee Percentage is 100%; therefore, the Guaranteed Amount equals 100% of the sum of all premium payments that we receive in the first Policy Year, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period;

&nbsp;&nbsp;&nbsp;&nbsp;(4) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(5) On Policy Year 4, after deduction of all cumulative policy fees and charges, your Accumulation Value increases due to market gain to $130,000;

&nbsp;&nbsp;&nbsp;&nbsp;(6) Because you have experienced market gains by Policy Year 4, you decide to request an IPR Reset as of the 4th Policy Anniversary;

&nbsp;&nbsp;&nbsp;&nbsp;(7) After the reset, your new Guaranteed Amount is $130,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(8) Your Holding Period End Date is extended an additional 10 years (Policy Year 14).

*IPR Investment Restrictions* 

If you purchase IPR 5.0, there will be limitations on how you allocate your premium payments. You will be allowed to allocate your premium payments to the Investment Divisions and the DCA Advantage Account subject to the restrictions set forth in APPENDIX 1C and APPENDIX 1D.

The Fixed Account is not available while the IPR 5.0 is in effect and prior to the Holding Period End Date. Upon any termination of the IPR 5.0, the Fixed Account will be an available investment option. If you purchase the IPR 5.0, there will be limitations on how you allocate to the Investment Divisions. You may allocate your premium payment to Investment Divisions in the Asset Allocation Categories in accordance with the specified thresholds. Individual transfers between Investment Divisions and the DCA Advantage Account are not allowed. If you wish to complete an individual transfer between the Investment Divisions, you must send a reallocation form to the VPSC at one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus. Each policy quarter, we will automatically rebalance your current allocations to conform to your most recent allocation instructions. The Investment Division restrictions associated with the IPR 5.0 seek to moderate overall volatility or hedge against down–market volatility and may limit your participation in positive investment performance. Other investment options that are available if you do not purchase the IPR 5.0 may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with the IPR 5.0 meet your investment objectives and risk tolerance. The Asset Allocation Categories available with IPR 5.0 are set forth in APPENDIX 1C and APPENDIX 1D.

If you choose an IPR Reset, the restrictions on investment allocations may change. These changes could include an adjustment to the minimum and/or maximum allocation percentages available under the Asset Allocation Categories, adding or removing Asset Allocation Categories, or discontinuing the availability of the DCA Advantage Account.

*The Effects of Cancelling IPR 5.0* 

You may cancel the IPR 5.0 within thirty (30) days after delivery of the policy without incurring the Rider Risk Charge Adjustment. To cancel, you must return the IPR 5.0 to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel the IPR 5.0 and refund any IPR 5.0 charges which may have been deducted. After this 30–day period, you still have the right to discontinue the IPR 5.0, however, we will deduct a Rider Risk Charge Adjustment from your Accumulation Value and we will not refund any IPR 5.0 charges that may have been deducted. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 (Cancellation Charge).") Certain jurisdictions may not permit us to assess a Rider Risk Charge Adjustment; for more information, contact your registered representative or see "APPENDIX 3 –State Variations". The cancellation of the IPR 5.0 after the 30 day

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period will be effective as of the date VPSC receives your cancellation request. You should consider the cost of cancelling the IPR 5.0 prior to purchasing it.

The IPR 5.0 will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to receive a potential one–time adjustment to your Accumulation Value. Therefore, you should purchase the IPR 5.0 only if you intend to keep the policy for at least the rider Holding Period you choose (7, 10, 12, 13, 14, 15 or 20 years).

In most jurisdictions, the IPR 5.0 will terminate if an ownership change or assignment of the policy is made, other than as explicitly described in the rider.

*The Effects of Withdrawals on IPR 5.0* 

Any withdrawal (including required minimum distributions from IRAs) reduces the Guaranteed Amount proportionally and the amount of charges assessed for the IPR 5.0. While the IPR 5.0 is in effect, withdrawals will be deducted proportionally from the Allocation Options. However, please note that charges assessed for the IPR 5.0 prior to the date of any withdrawal (including required minimum distributions from IRAs) will not be retroactively adjusted. **It is important to note that if you make any withdrawals (including required minimum distributions from IRAs) while the IPR 5.0 is in effect, you may not be able to receive the full value of the IPR 5.0. The reduction in the Guaranteed Amount may be significant and could be greater than the actual amount withdrawn. This may occur when you request a withdrawal at a time when your Accumulation Value is lower than the Guaranteed Amount. As a result, the IPR 5.0 may not be appropriate for you if you intend to take withdrawals (including required minimum distributions from IRAs) before the end of the Holding Period you choose. You should consult your tax advisor if you have any questions about the use of the IPR 5.0 in your tax situation.** 

*Example of the Benefit under IPR 5.0* 

We have set forth below an example of how the benefit from the IPR 5.0 may be realized. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR 5.0 with a 10-year Holding Period is purchased at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) Your IPR Guarantee Percentage is 100%; therefore, the Guaranteed Amount equals 100% of the sum of all premium payments that we receive in the first Policy Year, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(4) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(5) No withdrawals are made; and

&nbsp;&nbsp;&nbsp;&nbsp;(6) As of the Holding Period End Date, the Accumulation Value on the Policy Anniversary corresponding to the Holding Period you chose has decreased to $50,000.

The Guaranteed Amount when we issued the policy was $100,000.

On the Policy Anniversary for the Holding Period you chose, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $100,000. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $50,000 to make it equal to the Guaranteed Amount of $100,000.

*Example of the Effects of Withdrawals on IPR 5.0* 

We have set forth below an example of how the benefit from the IPR 5.0 may be realized and how withdrawals (including required minimum distributions from IRAs) will impact the Guaranteed Amount and how we calculate the Guaranteed Amount Proportional Reduction.

In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR 5.0 with a 10-year Holding Period is purchased at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

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

&nbsp;&nbsp;&nbsp;&nbsp;(3) Your IPR Guarantee Percentage is 100%; therefore, the Guaranteed Amount equals 100% of the sum of all premium payments that we receive in the first Policy Year, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(4) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(5) A withdrawal of $20,000 is made in the eighth policy year;

&nbsp;&nbsp;&nbsp;&nbsp;(6) The Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(7) As of the Holding Period End Date, the Accumulation Value on the Policy Anniversary corresponding to the Holding Period you chose has decreased to $50,000.

The Guaranteed Amount when we issued the policy was $100,000. When the withdrawal was made in the eighth Policy Year, we reduced the Guaranteed Amount by the amount of the Guaranteed Amount Proportional Reduction. We calculated the amount of the Guaranteed Amount Proportional Reduction by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the Guaranteed Amount immediately preceding the withdrawal as follows:

Guaranteed Amount Proportional Reduction = ($20,000/$80,000) x $100,000 = $25,000

To determine the new Guaranteed Amount after the withdrawal, we subtracted the amount of the Guaranteed Amount Proportional Reduction from the initial Guaranteed Amount: ($100,000 – $25,000) = $75,000.

On the Policy Anniversary for the Holding Period you chose, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $75,000. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $50,000 to make it equal to the Guaranteed Amount of $75,000.

If you had chosen the 20 year Holding Period, assuming an IPR Guarantee Percentage of 150%, the Guaranteed Amount when we issued the policy would have been $150,000. Then the Guaranteed Amount Proportional reduction in year eight would have been ($20,000/$80,000) x $150,000 = $37,500 and the Guaranteed Amount after the Guaranteed Amount Proportional Reduction would have been $112,500. On the Policy Anniversary for the 20 year Holding Period, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $112,500. Therefore, you would have been able to receive a one-time adjustment of $62,500.

After the adjustment is paid, the rider will end. (See "DESCRIPTION OF BENEFITS-Investment Preservation Rider 5.0-IPR 5.0 Death Benefit" regarding the terms under which such death benefit may continue after the IPR 5.0 ends). You would not have been able to receive this adjustment to your Accumulation Value if you had not purchased the IPR 5.0 Rider.

Upon your death, the IPR 5.0 and the policy will terminate unless your spouse chooses to continue the policy. Your spouse must be the sole primary beneficiary to continue the IPR 5.0 and the policy. If you spouse chooses to continue the IPR 5.0 and the policy, no death benefit proceeds will be paid upon your death.

*IPR 5.0 Death Benefit*

The IPR 5.0 Death Benefit is available in jurisdictions where approved (see *"APPENDIX 3 – State Variations"* for more information).

<u>If you purchased your policy on or prior to November 12, 2023:</u> 

*For the 10, 12, 13, 14 and 15 year Holding Periods:* 

If the Owner dies on or before the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

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

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 5.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 5.0 Death Benefit in (b) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 5.0 Death Benefit immediately preceding the withdrawal.

*For the 20 year Holding Period:* 

If the Owner dies within the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies before the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(c).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 5.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A portion of the Guaranteed Amount which is determined by dividing the Guaranteed Amount by the applicable IPR Guarantee Percentage as reflected on your IPR rider date page (See the Rate Sheet Prospectus Supplement for the IPR Guaranteed Amount Percentage applicable for new purchases); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 5.0 Death Benefit in (c) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 5.0 Death Benefit immediately preceding the withdrawal.

<u>If you purchased your policy on or after November 13, 2023:</u> 

For policies where the IPR Guarantee Percentage is 100% or less:

If the Owner dies on or before the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

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

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 5.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 5.0 Death Benefit in (b) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 5.0 Death Benefit immediately preceding the withdrawal

For policies where the IPR Guarantee Percentage is 101% or more:

If the Owner dies within the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies before the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(c).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 5.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A portion of the Guaranteed Amount which is determined by dividing the Guaranteed Amount by the applicable IPR Guarantee Percentage as reflected on your IPR rider date page (See the Rate Sheet Prospectus Supplement for the IPR Guaranteed Amount Percentage applicable for new purchases); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 5.0 Death Benefit in (c) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 5.0 Death Benefit immediately preceding the withdrawal.

**It is important to note that for purposes of calculating the Guaranteed Amount under the IPR 5.0 Death Benefit, Partial Withdrawals (including required minimum distributions) proportionally reduce the Guaranteed Amount while additional premium payments increase the Guaranteed Amount dollar for dollar. This means that under certain market conditions, a Partial Withdrawal could have a much more significant impact on the Guaranteed Amount (negatively) than would a premium payment made in the same amount (positively).** 

Payment of a death benefit terminates the IPR 5.0. Upon your death, the IPR 5.0 and the policy will terminate unless your spouse chooses to continue the policy. Your spouse must be the sole primary beneficiary to continue the IPR 5.0 and the policy. If your spouse chooses to continue the IPR 5.0 and the policy, no death benefit proceeds will be paid upon your death.

*Example of Calculation of the Death Benefit:* 

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For this example, assume:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR 5.0 with a 10 year Holding Period is purchased at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) You made an initial premium payment of $100,000;

&nbsp;&nbsp;&nbsp;&nbsp;(3) No additional premiums are made;

&nbsp;&nbsp;&nbsp;&nbsp;(4) Your IPR Guarantee Percentage is 100%; therefore, the Guaranteed Amount is 100% of the sum of all premium payments that we receive in the first Policy Year, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period;

&nbsp;&nbsp;&nbsp;&nbsp;(5) As of the fourth Policy Anniversary, an IPR Reset is requested because the Accumulation Value has increased to $150,000. After the reset, the new Guaranteed Amount is increased to $150,000 and a new Holding Period has begun;

&nbsp;&nbsp;&nbsp;&nbsp;(6) You die in the fifth Policy Year, and the Accumulation Value upon death is now $140,000 due to market fluctuations;

Upon death in the fifth Policy Year, the death benefit payable is the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;(1) The Standard Death Benefit, which is The Accumulation Value upon death = $140,000 or;

&nbsp;&nbsp;&nbsp;&nbsp;(2) The Return of Premium Death Benefit = $100,000 or;

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 5.0 Death Benefit which is the IPR Guaranteed Amount = $150,000

In this example, your beneficiary would receive the IPR 5.0 Death Benefit amount of $150,000.

For this example, assume:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR 5.0 with a 10 year Holding Period is purchased at the time of application on or after November 13, 2023;

&nbsp;&nbsp;&nbsp;&nbsp;(2) You made an initial premium payment of $100,000;

&nbsp;&nbsp;&nbsp;&nbsp;(3) Your IPR Guarantee Percentage is 105%; therefore, the Guaranteed Amount is 105% of the sum of all premium payments that we receive in the first Policy Year, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period;

&nbsp;&nbsp;&nbsp;&nbsp;(4) No additional premiums are made;

&nbsp;&nbsp;&nbsp;&nbsp;(5) As of the fourth Policy Anniversary, an IPR Reset is requested because the Accumulation Value has increased to $150,000. After the reset, the new Guaranteed Amount is increased to $157,500 and a new Holding Period has begun;

&nbsp;&nbsp;&nbsp;&nbsp;(6) You die in the fifth Policy Year, and the Accumulation Value upon death is now $140,000 due to market fluctuations;

Upon death in the fifth Policy Year, the death benefit payable is the greatest of:

&nbsp;&nbsp;&nbsp;&nbsp;(1) The Standard Death Benefit, which is the Accumulation Value upon death = $140,000 or;

&nbsp;&nbsp;&nbsp;&nbsp;(2) The Return of Premium Death Benefit = $100,000 or;

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 5.0 Death Benefit = $150,000 (calculated as follows $157,500 / 105% = $150,000) (the Guaranteed Amount is not payable because death occurred prior to the minimum waiting period)

In this example, your beneficiary would receive the IPR 5.0 Death Benefit amount of $150,000. If death occurred within or after the last two years of the new Holding Period End Date, the IPR 5.0 Death Benefit would have been $157,500.

*Example of Spousal Continuance with the IPR* 

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Using the first death benefit calculation example of purchasing an IPR with a 10 year Holding Period, assume that instead of electing the IPR Death Benefit when the policyowner died in Policy Year 5, the surviving spouse elected to continue the policy as the new Owner. All of the values that existed at the time of the original policyowner's death would simply continue as though the spouse as the new Owner had purchased the policy on the original Policy Date. For example:

&nbsp;&nbsp;&nbsp;&nbsp;(1) The IPR Guaranteed Amount would be $150,000 because the deceased spouse reset in Policy Year 4. Since a new 10 year Holding Period because upon the reset, there are 9 years left in the IPR Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(2) The Accumulation Value in Policy Year 5 at the time of death is still $140,000 and the policy will continue. The surviving spouse has all the rights under the policy, including the ability to make transfers, premium payments and withdrawals. The surviving spouse may also elect to reset the IPR Guaranteed Amount if he or she chooses.

Please note that for jointly-owned policies, a spouse can only elect to continue the policy if the surviving spouse has been designated the sole primary beneficiary of the policy. If someone other than the surviving spouse is designated as a beneficiary, the spousal continuance option is not available.

***Living Needs Benefit/Unemployment Rider***

This rider is available at no additional cost. Rider benefits and requirements to qualify for the rider benefits may not be the same in all jurisdictions. We include a Living Needs Benefit/Unemployment Rider for all types of policies. In Connecticut, the rider is named the "Living Needs Benefit Rider" and the Unemployment and Disability portions of the rider are not available. In New York, the rider is named "Waiver Of Surrender Charges For Living Needs Qualifying Events" and the Unemployment portion of the rider is not available. In New Jersey, the rider is named the "Living Needs Benefit Rider" and the Unemployment portion of the rider is not available.

The Living Needs Benefit/Unemployment Rider will waive all surrender charges (or a portion of surrender charges in the case of Unemployment), if you provide satisfactory proof that the Owner has experienced a Qualifying Event (as defined below). In order to receive the benefit associated with this rider, your policy must have been in force for at least one year and have a minimum Accumulation Value of $5,000 and the Qualifying Event must occur on or after the Policy Date. For the Disability portion of the rider, any withdrawal after your 66<sup>th</sup> birthday will not be eligible for the rider benefit and surrender charges may apply. For the Unemployment portion of the rider, we will waive surrender charges on a one-time withdrawal of up to 50% of your Accumulation Value. Surrender charges will apply on amounts withdrawn in excess of that amount and on subsequent withdrawals. In addition, none of the benefits of this rider are available for policies where any Owner(s) has attained their 86<sup>th</sup> birthday on the Policy Date. If the Owner(s) is not a natural person, all restrictions and benefits of the rider are based on the Annuitant.

The types of Qualifying Events are defined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(a) Health Care Facility (defined as a state licensed/certified nursing home/assisted living facility): The Owner is enrolled and living in a Health Care Facility for 60 consecutive days.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Terminal Illness: A determination by a licensed physician that the Owner has a life expectancy of 12 months or less.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Disability: A determination by a licensed physician that the Owner has a disability that prevents them from performing any work for pay or profit for at least 12 consecutive months. We may require proof of continued disability as of the date of the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Unemployment: A determination letter from the applicable state's Department of Labor that the Owner qualifies for and has been receiving state unemployment benefits for 60 consecutive days.

A Health Care Facility is defined as a state licensed/certified nursing home/assisted living facility. In addition, we may also require proof of continued disability as of the date of the withdrawal.

For example, if an Owner with $100,000 in Accumulation Value experiences one of the Qualifying Events described in (a) – (c) above in Policy Year 3, he or she will be able to take withdrawals from his or her policy without having to pay a surrender charge on such withdrawals for as long as the Owner satisfies the conditions of eligibility. If the Owner were to experience the Qualifying Event of Unemployment in (d) in Policy Year 3, he or she would be able to

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make a one-time withdrawal of up to $50,000 without having to pay a surrender charge on such withdrawal. If he or she were to withdraw in excess of $50,000, he or she would pay a surrender charge on the amount exceeding $50,000 and on any subsequent withdrawals.

You will be able to receive benefits under this rider the later of the date you meet the above requirements or the date we receive your documentation in Good Order at the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

***Waiver of Surrender Charges for Home Health Care Qualifying Event Rider***

This rider is automatically included for all policyowners who are at least age 76 on the Policy Date. This rider waives 100% of surrender charges if the Owner begins receiving Home Health Care Services provided by a Home Health Care provider, as recommended by a licensed physician. In order to receive the benefit associated with this rider, your policy must have been in force for at least one year and have a minimum Accumulation Value of $5,000 and the Qualifying Event must occur on or after the Policy Date. The Owner must have received Home Health Care Services for at least 60 days during the six-month period preceding the partial withdrawal or full surrender. The Home Health Care Provider must be an organization or individual that is licensed to provide home health care to chronically ill individuals in their home or residence for an hourly or daily charge. The Owner must have received Home Health Care Services for at least 60 days during the six-month period preceding the partial withdrawal or full surrender. We receive the right to request satisfactory proof of eligibility each time the Owner requests a partial withdrawal or full surrender of the policy.

***The Future Income Rider***

The Future Income Rider ("FIR") is not available for applications signed on or after May 1, 2017. The FIR was included with most policies issued prior to May 1, 2017 at no additional charge (other than certain qualified plans; see APPENDIX 2 for more information). The FIR allows you to apply a portion of your policy's Variable Accumulation Value to purchase a stream of guaranteed annuity Income Payments for the lifetime of the Annuitant(s) (a "Future Income Purchase"), starting on the Future Income Start Date. Future Income Purchases are maintained in NYLIAC's general account, and guarantees under the FIR are backed solely by the claims–paying ability of the NYLIAC general account.

**Future Income Purchases.** You can choose if and when to make a Future Income Purchase, subject to an initial waiting period. Generally, you must wait until after the first Policy Anniversary following a Premium Payment to make a Future Income Purchase using amounts from that Premium Payment. However, before the first Policy Anniversary, you can make Future Income Purchases that are less than or equal to the amount by which the Accumulation Value exceeds the value of Premium Payments during that time. After the waiting period, you can make a Future Income Purchase at any time before you annuitize the policy and until two years before the Future Income Start Date. You choose a Future Income Start Date when you make your first Future Income Purchase. Currently, there is no limit on the total number of Future Income Purchases you can make while your policy is in effect. However, in the future we may limit the total number of Future Income Purchases you can make. If we decide to impose a limit, we will provide you with at least thirty (30) days' notice. Future Income Purchases are not required.

The minimum Future Income Purchase amount is $5,000 for the initial Future Income Purchase, and $100 for subsequent purchases. Total Future Income Purchases cannot be more than $1,000,000. You can make no more than twelve (12) Future Income Purchases in any Policy Year. Future Income Purchases are made through deductions taken from your Policy's Variable Accumulation Value. To make a Future Income Purchase, you can send a written request to one of the addresses provided the "CONTACTING NYLIAC" section of this Prospectus. We will process your request at the close of the Business Day on which it is received by NYLIAC. NYLIAC may limit total Future Income Purchases to 25% of Accumulation Value in a given Policy Year. If we decide to impose a limit, we will provide you with at least thirty (30) days' notice.

When you make a Future Income Purchase, you can specify from which Investment Divisions the Future Income Purchase amount should be deducted. You can choose to fund the Future Income Purchase with a pro–rata deduction from all your Investment Divisions, or you can select particular Investment Divisions from which to deduct the Future Income Purchase amount, unless you have elected one of the investment preservation riders. Because of the Investment Division restrictions with one of the investment preservation riders, deductions from the Investment Divisions for Future Income Purchase will be made on a pro–rata basis while the applicable investment preservation

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rider is in effect. You cannot use amounts in the DCA Advantage Account or the Fixed Account for a Future Income Purchase. There are no surrender charges on amounts deducted from your Variable Accumulation Value to make a Future Income Purchase. For the purposes of calculating the guaranteed amount under the applicable investment preservation rider or the amount of a death benefit under the base policy or the ADBR, a Future Income Purchase will be considered to be a withdrawal from the policy and will proportionally reduce the guaranteed amounts under these riders.

You can also make Future Income Purchases on a recurring basis by setting up systematic Future Income Purchases. The VPSC must receive a completed Future Income Purchase Form requesting systematic purchases at least five (5) Business Days before the date purchases are scheduled to begin. If your request for this option is received less than five (5) Business Days prior to the date you request purchases to begin, the systematic purchases will begin the month following the receipt of your request on the day of the month you specified, or if that day is not a Business Day, on the next Business Day.

The amount of future income purchased depends on the Future Income Purchase rate in effect on the day you make the purchase, as determined by NYLIAC, as well as other factors, including the Age and sex of the Annuitant(s), the Future Income Purchase amount and the length of time before Future Income Payments are scheduled to begin. After each Future Income Purchase, we will send you a confirmation statement containing the amount of income you purchased.

You can cancel a Future Income Purchase by sending a written notice to one of the addresses provided in the "CONTACTING NYLIAC" section of this Prospectus within ten (10) days after you receive written confirmation of that Future Income Purchase. If you do not cancel a Future Income Purchase, it will be deemed final and will be used to provide the Future Income Payment amount noted in the confirmation. Once final, the amount of the Future Income Purchase cannot be returned to the Investment Divisions and cannot be withdrawn or surrendered. If you cancel a Future Income Purchase, you cannot make another Future Income Purchase for ninety (90) days from the date of the cancelled purchase. **Any Variable Accumulation Value used for a Future Income Purchase can only be accessed through the receipt of Future Income Payments, starting on the Future Income Start Date. Once a portion of your Variable Accumulation Value is used to make a Future Income Purchase, it is no longer available to you on a full or partial surrender of your Policy, or upon a full or partial annuitization, unless the Future Income Purchase is reversed during the cancellation period. Accordingly, before making a Future Income Purchase, you should consider your liquidity needs. Variable Accumulation Value used to make Future Income Purchases is no longer invested in the Investment Divisions and will not earn any interest.** 

**Future Income Payments.** If an Annuitant is living, we will make Future Income Payments to the Payee you designate, beginning on the Future Income Start Date. Future Income Payments will continue for the lifetime of the Annuitant (or last surviving Annuitant, for joint Annuitant policies). The amount of a Future Income Payment is based on, among other things, the Future Income Purchase rates in effect when you make the Future Income Purchase, the Age and sex of the Annuitant(s), the Future Income Purchase amount and the length of time before Future Income Payments are scheduled to begin. The guaranteed lifetime income from the FIR could be higher or lower than the amount you might receive if you purchased a similar product that is offered by us or by another company.

If you choose to make multiple Future Income Purchases, the amount of your Future Income Payments will be greater after each purchase. We will send you a written confirmation of the change in the Future Income Payment amount after each purchase. Please refer to the rider Data Page for more information about how the Future Income Purchase rate and the resulting Future Income Payment amount are determined.

Full or partial surrenders or annuitizations will not affect Future Income Payment amounts. Please note, however, even if you surrender the Policy, we will not make any Future Income Payments until the Future Income Start Date.

You can make a one–time change to the Future Income Start Date that you chose when you made your first Future Income Purchase. The earliest Future Income Payment Start Date you can change to is thirteen (13) months from the date of your last Future Income Purchase, and the latest date is five (5) years after the original Future Income Start Date you chose, or the year in which the Annuitant (oldest joint Annuitant, if applicable) is age 85, if earlier. Note, however that with Traditional IRA policies, the Future Income Start Date cannot be deferred later than April 1 of the year following the year when the Owner reaches their applicable age (see "DISTRIBUTIONS UNDER THE POLICY – Required Minimum Distributions"). For Qualified Policies, a change in the Future Income Start Date to an earlier date may be subject to Code restrictions applicable to required minimum distributions. If a change in the Future Income

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Start Date would result in Future Income Payments that violate those Code restrictions, we will inform you that you may revise your request to an allowable Future Income Start Date. If the Future Income Start Date is accelerated by five (5) years or less, we will increase the Future Income Payments, if necessary, to an amount that will satisfy Code restrictions. Accelerating the Future Income Start Date would likely result in a lower Future Income Payment and deferring the date would likely result in a higher payment. However, if you defer the date, you increase the chance that you may die before payments begin, or you could receive fewer payments before you die. If you choose to change the Future Income Start Date, the interest rate for recalculating your Future Income Payments will be determined according to a formula that appears on your rider Data Page. The formula includes a factor that will increase the interest rate used to recalculate the Future Income Payments for accelerations and decrease the interest rate used to recalculate Future Income Payments for deferrals. The rider Data Page has additional information about how accelerating or deferring the Future Income Start Date will affect your Future Income Payments. *APPENDIX 2* has information about restrictions on Income Start Dates under qualified plans.

To change the Future Income Start Date, you must send the VPSC a request in writing or by any other method we make available, to one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

If the Annuitant is living on the Future Income Start Date, we will make Future Income Payments under the life with cash refund option to the designated Payee. For Non–Qualified Policies only, you also have the option to receive any eight (8) consecutive Future Income Payments in advance in a lump sum. This option can be exercised only three (3) times over the life of the Policy. This option is not available if you are under age 59½.

**Death Benefits under the FIR.** 

Death benefits under the FIR are in addition to death benefits payable under the base policy, which are described in "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement" and death benefits under the optional Annual Death Benefit Reset Rider, which are described in "DESCRIPTION OF BENEFITS—Annual Death Benefit Reset (ADBR) Rider". If you have made a Future Income Purchase, the FIR provides for the following death benefits:

&nbsp;&nbsp;&nbsp;&nbsp;● If the Policy ends due to the death of an Owner or Annuitant before the Policy is annuitized (i.e. when Income Payments under the policy begin) and before the Future Income Start Date, the FIR ends and we will pay the Beneficiary a death benefit in an amount equal to the cumulative Future Income Purchases.

&nbsp;&nbsp;&nbsp;&nbsp;● If the Policy ends because an Owner or Annuitant dies before the policy is annuitized and after the Future Income Start Date, we will continue to make Future Income Payments to the Payee, while an Annuitant is living. If no Annuitant is living or when the Annuitant dies (last surviving Annuitant for joint Annuitant policies), we will pay to your Beneficiary, even if the Payee is still living, a death benefit, if any, in an amount equal to the cumulative Future Income Purchases less the sum of Future Income Payments made as of the date of death of the Annuitant (last surviving Annuitant for joint Annuitant policies). The Payee is the individual or entity you have designated to receive Future Income Payments.

&nbsp;&nbsp;&nbsp;&nbsp;● If an Owner dies after the policy is annuitized and before the Future Income Start Date, the FIR ends and we will pay the Beneficiary a death benefit in an amount equal to the cumulative Future Income Purchases even if an Annuitant is still living.

&nbsp;&nbsp;&nbsp;&nbsp;● If an Owner dies after the policy is annuitized and after the Future Income Start Date, we will continue making Future Income Payments to the Payee while an Annuitant is living. If the Payee dies before the Annuitant, then we will make Future Income Payments to the Annuitant, unless you specify otherwise. If no Annuitant is living, or when the Annuitant dies (last surviving Annuitant for joint Annuitant policies), we will pay the Beneficiary, even if the Payee is still living, a death benefit, if any, in an amount equal to the cumulative Future Income Purchases less the sum of Future Income Payments made as of the date of death of the Annuitant (last surviving Annuitant for joint Annuitant policies).

**Death of an Annuitant under the FIR** 

If the policy is issued with one Annuitant, who is not the Owner, and the Annuitant dies before the Future Income Start Date, then you (the primary Owner) become the new Annuitant. We will increase the Variable Accumulation Value by an amount equal to the cumulative Future Income Purchases made while the Annuitant was living. We will apply the increase to the Investment Divisions on a pro–rata basis, based on the allocations in effect as of the date of

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the Annuitant's death. We will make this adjustment as of the date we receive proof of death for the Annuitant. No Future Income Payments will be made with the Future Income Purchases based on the original Annuitant's life. However, the Owner (who is now the new Annuitant) may make subsequent Future Income Purchases based on his or her own life.

For joint Annuitant policies, if an Annuitant who is not an Owner dies prior to the Future Income Start Date, you cannot add a new joint Annuitant, and we will not make any adjustments to the Variable Accumulation Value when a non–Owner Annuitant dies. You may continue to make Future Income Purchases based on the life of the surviving Annuitant. These purchases will be added to any joint life Future Income Purchases, made prior to the Annuitant's death, to provide Future Income Payments at the Future Income Start Date.

**Spousal Continuation and the FIR** 

If the Owner dies before annuitizing the policy, and the Owner's spouse is eligible to continue the policy (see "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement", below), the following will occur if your spouse continues the policy:

&nbsp;&nbsp;&nbsp;&nbsp;● If you die before the Future Income Start Date, and you were the only Annuitant, and you have not made any Future Income Purchases, your Spouse may make Future Income Purchases based on his or her own life as the new Annuitant, subject to certain limitations specified in the FIR.

&nbsp;&nbsp;&nbsp;&nbsp;● If you die before the Future Income Start Date, and you were the only Annuitant, and you made Future Income Purchases, we will not make any Future Income Payments based on those Future Income Purchases. Instead, we will increase the Policy's Variable Accumulation Value by an amount equal to the total Future Income Purchases. We will apply the increase on a pro–rata basis, based on the Investment Division allocations in effect as of the date of your death. We will make this adjustment as of the date we receive proof of death for you. Following this adjustment, your spouse, who is now the Annuitant, may make Future Income Purchases based on his or her own life, subject to certain limitations in the FIR.

&nbsp;&nbsp;&nbsp;&nbsp;● If you and your spouse were joint Annuitants, after you die your spouse may make Future Income Purchases based on his or her own life, subject to certain limitations in the FIR, even if you made joint–life Future Income Purchases prior to your death. We will apply all Future Income Purchases that either or both of you made to Future Income Payments at the Future Income Start Date.

&nbsp;&nbsp;&nbsp;&nbsp;● If you were not an Annuitant, after you die your spouse may make Future Income Purchases based on the life of the Annuitant, or joint Annuitants, as applicable, and subject to the limitations of the FIR. We will apply all Future Income Purchases that either or both of you made to Future Income Payments.

If you die after the Future Income Start Date but before annuitizing the policy, the following will occur:

&nbsp;&nbsp;&nbsp;&nbsp;● We will continue to make Future Income Payments to the Payee for as long as an Annuitant is living. Your spouse may continue the policy.

Set forth below is an example of how the benefit under the FIR may be realized. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) The policyowner is a 60-year-old woman in her fourth Policy Year;

&nbsp;&nbsp;&nbsp;&nbsp;(2) The policy has $100,000 of Accumulation Value;

&nbsp;&nbsp;&nbsp;&nbsp;(3) On May 1, 2021, the policyowner purchases $15,000 in Future Income with the Cash Refund Income Option and has chosen a Future Income Start Date of May 1, 2025; and

&nbsp;&nbsp;&nbsp;&nbsp;(4) The Accumulation Value of the policy decreased to $85,000 as a result. No surrender charges are assessed;

Based on the rate in effect for this policyowner on May 1, 2021, the policyowner will receive annual income starting on May 1, 2025 in the amount of $755.28.

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***Investment Preservation Rider/Annual Death Benefit Reset Rider Package (optional and available only with policies applied for before May 1, 2016)***

If you elected the Investment Preservation Rider/Annual Death Benefit Reset Rider combination package ("IPR + ADBR" Package) (in jurisdictions where available) before May 1, 2016, you will receive a discount on the charges for both the ADBR and IPR Riders. Please note that if the IPR Rider is cancelled, the charge for the ADBR Rider will revert to the charge that is assessed for that rider, if purchased separately. See "CHARGES AND DEDUCTIONS—Optional Benefits and Expenses—Investment Preservation Rider/Annual Death Benefit Reset Rider Package Charge" for more details. There is no IPR + ADBR Package discount available for policies issued on and after May 1, 2016.

***Automatic Asset Rebalancing***

This policy feature, which is available at no additional cost, allows you to automatically maintain the percentage of your Variable Accumulation Value allocated to each Investment Division at a pre-set level. **Unless you opt out of AAR on your application or in a subsequent notice, your policy will be subject to AAR.** 

*AAR works as follows:* 

You might specify that 50% of the Variable Accumulation Value of your policy be allocated to the NYLIM VP MacKay Convertible Investment Division and 50% of the Variable Accumulation Value be allocated to the NYLIM VP PineStone International Equity Investment Division. Over time, the fluctuations in returns from each of these Investment Divisions will shift the percentages of your Variable Accumulation Value in each Investment Division. Using AAR, NYLIAC will automatically transfer your Variable Accumulation Value back to the percentages you specify. AAR also applies if your Variable Accumulation Value is allocated to an Asset Allocation Model.

You can choose to have AAR transfers made on your quarterly, semi-annual, or annual Policy Anniversary.

If at any time you elect not to use the AAR feature and then change your mind, you must send a completed AAR request form to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or by any other method we make available. The VPSC must receive the completed AAR request form at least five Business Days before the date that the rebalancing is scheduled to begin. If we receive your completed AAR request form for this option less than five Business Days prior to the date you request rebalancing to begin, the reallocation will begin on the next rebalancing date based on the rebalancing frequency you selected. Faxed and e-mailed AAR requests are not currently accepted; however, we reserve the right to accept them at our discretion. You may modify an existing AAR by contacting us by phone at the number provided in the "CONTACTING NYLIAC" section of this Prospectus. We will suspend AAR automatically if the Variable Accumulation Value is less than $2,500 on a reallocation date. Once the Variable Accumulation Value equals or exceeds this amount, AAR will resume automatically as scheduled. There is no minimum amount that you must allocate among the Investment Divisions under this option. AAR may be cancelled if a premium allocation change or transfer is submitted on your behalf that is inconsistent with your current AAR arrangement. You may prevent this cancellation if a conforming AAR change is processed within one Business Day of the inconsistent premium allocation change or transfer.

You may cancel the AAR feature at any time by sending a written cancellation request in Good Order to the VPSC or by contacting us by phone or online as described in the "CONTACTING NYLIAC" section of this Prospectus. You may not elect the AAR feature if you have selected the traditional Dollar Cost Averaging option. However, you have the option of alternating between these two features.

***Dollar Cost Averaging Programs***

The main objective of dollar cost averaging is to achieve an average cost per Accumulation Unit that is lower than the average price per Accumulation Unit during volatile market conditions. Since you transfer the same dollar amount to an 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 per unit is low and fewer units if the value per unit is high. Dollar cost averaging does not assure a profit in rising markets 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 to make purchases during

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periods of varying price levels. We do not count transfers under dollar cost averaging as part of your 12 free transfers each Policy Year. There is no charge imposed for either of the Dollar Cost Averaging programs.

We have set forth below an example of how dollar cost averaging works. In the example, we have assumed that you want to transfer $100 from the NYLIM VP U.S. Government Money Market Investment Division to the NYLIM VP Dimensional U.S. Equity—Service Class Investment Division each month. Assuming the Accumulation Unit values below, you would purchase the following number of Accumulation Units:

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| | | | |
|:---|:---|:---|:---|
| **Month** | &nbsp;&nbsp; **Amount**<br> **Transferred**<br>| &nbsp;&nbsp; **Accumulation**<br> **Unit Value**<br>| &nbsp;&nbsp; **Accumulation Units**<br> **Purchased**<br>|
| 1 | $100 | $10.00 | 10.00 |
| 2 | $100 | $8.00 | 12.50 |
| 3 | $100 | $12.50 | 8.00 |
| 4 | $100 | $7.50 | 13.33 |
| Total | $400 | $38.00 | 43.83 |

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The average unit price is calculated as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| Total unit price | = | $38.00 | = | $9.50 |
| Number of months | = | 4 | = | $9.50 |

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The average unit cost is calculated as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| Total amount transferred | = | $400.00 | = | $9.13 |
| Total units purchased | = | 43.83 | = | $9.13 |

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In this example, with dollar cost averaging you would have paid an average of $9.13 per unit while the average price per unit during the purchase period was $9.50. Keep in mind that it is also possible for dollar cost averaging to result in a loss. For example, if Accumulation Unit Values had increased rapidly over the four-month period used in the example above, you would have achieved a lower average unit cost by making the entire purchase in the first month.

*Traditional Dollar Cost Averaging (not available with the investment preservation riders)*

This option, which is available at no additional cost, permits systematic investing to be made in equal installments over various market cycles to help reduce risk. You may specify, prior to the Annuity Commencement Date, a specific dollar amount to be transferred from any Investment Division to any combination of Investment Divisions and/or the Fixed Account. Please note that for Premium based Base Contract Charge policies, amounts cannot be transferred to the Fixed Account (if applicable) You will specify the Investment Divisions to transfer money from, the Investment Divisions and/or Fixed Account to transfer money to, the amounts to be transferred, the date on which transfers will be made, subject to our rules, and the frequency of the transfers (monthly, quarterly, semi-annually or annually). You may not use traditional dollar cost averaging to make transfers into or from an Asset Allocation Model. You may not make transfers from the Fixed Account, but you may make transfers into the Fixed Account. Each transfer from an Investment Division must be at least $100. You must have a minimum Accumulation Value of $2,500 to elect this option. Once all money has been allocated to the Investment Divisions of your choice or the balance in the Investment Division you are transferring from is less than $100, the Dollar Cost Averaging option will cease. A new request must be submitted to reactivate this feature. NYLIAC may reduce the minimum transfer amount and minimum Accumulation Value at its discretion.

NYLIAC will make all Dollar Cost Averaging transfers on the day of each calendar month that you specify or on the next Business Day (if the day you have specified is not a Business Day). You may specify any day of the month except the 29th, 30th, or 31st. In order to process transfers under the Dollar Cost Averaging Option, the VPSC must have received a completed Dollar Cost Averaging request form in Good Order at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus no later than five Business Days prior to the date transfers are to begin. You may also process a Dollar Cost Averaging transfer by any other method we make available. If your Dollar

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Cost Averaging request form for this option is received less than five Business Days prior to the date you request it to begin, the transfers will begin on the day of the month you specify in the month following the receipt of your request. All completed Dollar Cost Averaging request forms must be sent to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion.

You may cancel the Dollar Cost Averaging option at any time. To cancel the Dollar Cost Averaging option, you must send a written cancellation request in Good Order to the VPSC or contact us by phone at the number provided in the "CONTACTING NYLIAC" section of this Prospectus. NYLIAC may also cancel this option if the Accumulation Value is less than $2,000, or such lower amount as we may determine. You may not elect the Dollar Cost Averaging option if you have selected the Automatic Asset Rebalancing option. However, you have the option of alternating between these two features.

*The DCA Advantage Account*

This feature, which is available at no additional cost, permits you to set up automatic dollar cost averaging using the DCA Advantage Account when an initial premium payment or a subsequent premium payment is made. The DCA Advantage Account transfers amounts automatically to the Investment Divisions you choose in six monthly increments, as described below. We credit amounts in the DCA Advantage Account with interest. You can request the DCA Advantage Account in addition to traditional Dollar Cost Averaging, Automatic Asset Rebalancing or Interest Sweep. To set up a DCA Advantage Account you must send a completed DCA Advantage Account request form in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

If you wish to allocate to the DCA Advantage Account, each premium payment you allocate to it must be at least $2,000. If your payment is less than the $2,000 minimum, it will not be allocated to the DCA Advantage Account. Instead, it will be automatically applied to the Investment Divisions that you have specified to receive transfers from the DCA Advantage Account. You must specify the Investment Divisions or available Asset Allocation Model into which transfers from the DCA Advantage Account are to be made. However, you may not select the DCA Advantage Account if its duration would extend beyond the Annuity Commencement Date. You may not make transfers from the DCA Advantage Account into the Fixed Account. We do not count transfers out of the DCA Advantage Account as part of your 12 free transfers each Policy Year. Dollar cost averaging will begin one month from the date NYLIAC receives the premium payment and transfers will be made on the same day (on the next Business Day if the day is not a Business Day) each subsequent month for the duration of the DCA Advantage Account. If a transfer is scheduled to occur on a day that does not exist in a month, it will be processed on the last day of that month or on the next Business Day if the last day of that month is not a Business Day. 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 Advantage Account. For example, the amount of the first monthly transfer out of the DCA Advantage Account will equal 1/6 of the value of the DCA Advantage Account on the date of the transfer. The amount of each of the five remaining transfers will equal 1/5, 1/4, 1/3, 1/2 and the remainder of the balance, respectively, of the value of the DCA Advantage Account on the date of each transfer.

You may not have more than one DCA Advantage Account open at the same time. Accordingly, any subsequent premium payment we receive for a DCA Advantage Account that is already open will be allocated to that same DCA Advantage Account and will earn the same interest rate. The entire value of the DCA Advantage Account will be completely transferred to the Investment Divisions or Asset Allocation Model within the duration specified. For example, if you allocate an initial premium payment to the DCA Advantage Account under which the 6-month term will end on December 31 and you make a subsequent premium payment to the 6-month DCA Advantage Account before December 31, we will allocate the subsequent premium payment to the same 6-month DCA Advantage Account already opened and transfer the entire value of the 6-month DCA Advantage Account to the Investment Divisions or Asset Allocation Model by December 31 even though a portion of the money was not in that DCA Advantage Account for the entire 6-month period. If an additional premium payment of $2,000 or more is allocated to the DCA Advantage Account after the duration has expired, the DCA Advantage Account will be re–activated and will earn the interest rate in effect on the Business Day the new premium payment is received at the VPSC.

You can make partial withdrawals and transfers (in addition to the automatic transfers described above) from the DCA Advantage Account. We will make partial withdrawals and transfers first from the DCA Advantage Account Accumulation Value attributed to the initial premium payment and then from the DCA Advantage Account Accumulation Value attributed to subsequent allocations in the order received.

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**You cannot make transfers into the DCA Advantage Account from any Allocation Option.**

***Interest Sweep***

This optional benefit, which is available at no additional cost, allows the interest earned on monies allocated to the Fixed Account to be transferred from the Fixed Account to one or any combination of Investment Divisions or an available Asset Allocation Model. You must specify the Investment Divisions and/or Asset Allocation Model, the frequency of the transfers (monthly, quarterly, semi-annually, or annually), and the day of each calendar month to make the transfers (except the 29<sup>th</sup>, 30<sup>th</sup>, and 31<sup>st</sup> of a month). NYLIAC will make all Interest Sweep transfers on the day of each calendar month you have specified or on the next Business Day (if the day you have specified is not a Business Day). To request an Interest Sweep transfer, you must send an Interest Sweep request form in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The VPSC must receive a completed Interest Sweep request form at least five Business Days prior to the date transfers are scheduled to begin. If the VPSC does not receive a completed Interest Sweep request form within the five Business Days prior to the date you request it to begin, the transfer will begin on the day of the month you specify in the month following the receipt of your request.

The Interest Sweep option may be utilized in addition to traditional Dollar Cost Averaging, Automatic Asset Rebalancing, or the DCA Advantage Account. With an Asset Allocation Model, the Interest Sweep option may be utilized with Automatic Asset Rebalancing and the DCA Advantage Account. If an Interest Sweep transfer is scheduled for the same day as a transfer related to the traditional Dollar Cost Averaging option, the Automatic Asset Rebalancing option or the DCA Advantage Account, we will process the Interest Sweep transfer first.

You may cancel the Interest Sweep option at any time. To cancel the Interest Sweep Option, you must send a written cancellation request in Good Order to the VPSC or contact us by telephone as described in the "CONTACTING NYLIAC" section of this Prospectus. We may also cancel this option if the Fixed Account Accumulation Value is less than $2,000, or such a lower amount as we may determine.

To establish a new Interest Sweep transfer after the option has been cancelled, you must send an Interest Sweep request form in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. You may also process an Interest Sweep transfer by any other method we make available. The VPSC must receive an Interest Sweep request form in Good Order at least five Business Days prior to the date transfers are scheduled to begin. If the VPSC does not receive an Interest Sweep request form in Good Order at least five Business Days prior to the date you request it to begin, transfers will begin on the day of the month you specify in the month following the receipt of your request. Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion. The minimum Fixed Account Accumulation Value required to elect this option is $2,500, but this amount may be reduced at our discretion.

***Rate Sheet Prospectus Supplement for the IPR Riders***

&nbsp;&nbsp;&nbsp;&nbsp;We use a Rate Sheet Prospectus Supplement to describe (i) the current charges and IPR Guarantee Percentages applicable to new purchases; (ii) the current charges for resets of the IPR Riders; and (iii) the addition or removal of Holding Periods available with the IPR for new purchases. Please see the Rate Sheet Prospectus Supplement for the current charges, IPR Guarantee Percentages and Holding Periods applicable to new purchases and for the current charges for resets of the IPR Riders. For all historical charges and IPR Guarantee Percentages applicable to prior purchases and IPR Resets, please see APPENDIX 4.

We may issue new Rate Sheet Prospectus Supplements in the future that will reflect (i) revised current charges and IPR Guarantee Percentages for new purchases; (ii) revised current charges for IPR Resets for IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0; and (iii) revised Holding Periods under the IPR available for new purchases. It is important that you know the current charge and current IPR Guarantee Percentages as of the date you apply for a policy. In the event we publish a new Rate Sheet Prospectus Supplement after the date your application is signed but before we issue your policy, we will apply the charge and IPR Guarantee Percentage in effect on the date of your signed application.

For IPR Resets, if we issue a new Rate Sheet Prospectus Supplement after the date you send in your written request to reset your IPR but before the Rider Reset Effective Date, we will apply the charge in effect on the Rider Reset Effective Date. Please be advised that the charges you pay for the IPR after you elect to reset may be different

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than the charges you paid prior to the Rider Reset Effective Date and could be more or less than the current charge reflected in the Rate Sheet Supplement at the time of your election to reset; provided, however, that such charges will never exceed the guaranteed maximum charge set forth in the "FEE TABLE". If you are not satisfied with the new charges you pay for the IPR after you elect to reset, you may cancel the reset at any time prior to or within thirty (30) days after the Rider Reset Effective Date with no penalty.

The charges and guaranteed amount percentages set forth in the Rate Sheet Prospectus Supplement may not be superseded or changed until a new Rate Sheet Prospectus Supplement is filed at least 10 Business Days prior to the effective date of the new Rate Sheet Prospectus Supplement. All Rate Sheet Prospectus Supplements are available on the EDGAR system at sec.gov (File Number 333-156018 and File Number 333-156019) and can also be obtained online at https://dfinview.com/NewYorkLife/TAHD/premier-ii or at no cost by calling our Variable Products Service Center at 1-800-598-2019.

**Charges And Deductions**

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***Transaction Expenses***

*Surrender Charges*

Since no deduction for a sales charge is made from each premium payment, we impose a surrender charge on certain partial withdrawals and surrenders of the policies. The surrender charge covers certain expenses relating to the sale of the policies, including commissions to registered representatives and other promotional expenses. We measure the surrender charge as a percentage of the amount withdrawn or surrendered. The surrender charge applies to certain amounts applied under certain Income Payment options.

If you surrender your policy, we deduct the surrender charge from the amount paid to you. If you make a partial withdrawal, you can direct NYLIAC to take surrender charges either from the remaining value of the Allocation Options from which the partial withdrawals are made, or from the amount paid to you. If you specify the Allocation Options from which to make the withdrawal, we will deduct the surrender charge pro-rata according to your instructions. If you do not specify the Allocation Options from which to make the withdrawal, we will deduct the surrender charge pro-rata from each Allocation Option. If the remaining value in an Allocation Option and/or the DCA Advantage Account, is less than the necessary surrender charge, we will not process the withdrawal. However, you can withdraw any investment gains under your policy without a surrender charge (see "CHARGES AND DEDUCTIONS—Transaction Expenses—Exceptions to Surrender Charges," below).

For Policies applied for on or after May 1, 2019, the guaranteed maximum surrender charge will be 7% (8% for Policies applied for before May 1, 2019) of the amount withdrawn. The percentage of the surrender charge varies, depending upon the length of time a premium payment is in your policy before it is withdrawn. For purposes of calculating the applicable surrender charge, we deem premium payments to be withdrawn on a first–in, first–out basis.

**For Policies applied for on or after May 1, 2019,** unless required otherwise by state law, the surrender charge for amounts withdrawn or surrendered during the first Payment Year(s) following the premium payment to which such withdrawal or surrender is 7% of the amount withdrawn or surrendered. After Payment Year 2 and beyond, the charge then declines by 1% per year for each additional Payment Year, until the seventh Payment Year, after which no charge is made, as shown in the following chart:

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*Amount of Surrender Charge (Policies applied for on or after May 1, 2019)* 

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| | |
|:---|:---|
| **Payment Year** | **Surrender** <br> **Charge**<br>|
| 1 | 7% |
| 2 | 7% |
| 3 | 6% |
| 4 | 5% |
| 5 | 4% |
| 6 | 3% |
| 7 | 2% |
| 8+ | 0% |

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**For Policies applied for before May 1, 2019,** unless required otherwise by state law, the surrender charge for amounts withdrawn or surrendered during the first Payment Year(s) following the premium payment to which such withdrawal or surrender is 8% of the amount withdrawn or surrendered. This charge then declines by 1% per year for each additional Payment Year, until the seventh Payment Year, after which no charge is made, as shown in the following chart:

*Amount of Surrender Charge (Policies applied for before May 1, 2019)* 

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| | |
|:---|:---|
| **Payment Year** | **Surrender** <br> **Charge**<br>|
| 1 | 8% |
| 2 | 7% |
| 3 | 6% |
| 4 | 5% |
| 5 | 4% |
| 6 | 3% |
| 7 | 2% |
| 8+ | 0% |

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In no event will the aggregate surrender charge applied under the policy exceed nine percent (9.0%) of the total premium payments.

*Exceptions to Surrender Charges*

We will not assess a surrender charge:

&nbsp;&nbsp;&nbsp;&nbsp;(a) for policies issued to policyowners age 75 and under, on amounts you withdraw in any Policy Year that are less than or equal to the greatest of (i) 10% of the Accumulation Value as of the last Policy Anniversary (10% of the premium payment if the withdrawal is made in the first Policy Year) less any prior surrender charge free withdrawals during the Policy Year; (ii) 10% of the Accumulation Value at the time of withdrawal, less any prior surrender charge free withdrawals during the Policy Year; or (iii) the Accumulation Value less accumulated premium payments.

&nbsp;&nbsp;&nbsp;&nbsp;(b) for policyowners age 76 to 85 who applied for policies on or after May 1, 2022, on amounts you withdraw in any Policy Year that are less than or equal to the greatest of (i) 25% of the Accumulation Value as of the last Policy Anniversary (25% of the premium payment if the withdrawal is made the first Policy Year); (ii) the Accumulation Value less the accumulated premium payments; or (iii) 25% of the Accumulation Value at the time of the withdrawal, less any prior Surrender Charge free withdrawals during the Policy Year.

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

&nbsp;&nbsp;&nbsp;&nbsp;(c) for policyowners ages 76 to 80 who applied for policies prior to May 1, 2022, on amounts you withdraw in any Policy Year that are less than or equal to the greatest of (i) 50% of the Accumulation Value as of the last Policy Anniversary (50% of the premium payment if the withdrawal is made the first Policy Year); (ii) the Accumulation Value less the accumulated premium payments; or (iii) 50% of the Accumulation Value at the time of the withdrawal, less any prior Surrender Charge free withdrawals during the Policy Year.

&nbsp;&nbsp;&nbsp;&nbsp;(d) if NYLIAC cancels the policy;

&nbsp;&nbsp;&nbsp;&nbsp;(e) if you exercise your right to cancel your policy during the Free Look period;

&nbsp;&nbsp;&nbsp;&nbsp;(f) when we pay proceeds upon the death of the policyowner;

&nbsp;&nbsp;&nbsp;&nbsp;(g) when you select an Income Payment option involving life income in any Policy Year after the first Policy Anniversary;

&nbsp;&nbsp;&nbsp;&nbsp;(h) when a required minimum distribution calculated based on the value of this policy is made under a Qualified Policy or an Inherited Non-Qualified policy (the amount of a required minimum distribution will, however, be included when calculating the amount in item (a), above);

&nbsp;&nbsp;&nbsp;&nbsp;(i) on withdrawals you make under the Living Needs Benefit/Unemployment Rider;

&nbsp;&nbsp;&nbsp;&nbsp;(j) on monthly or quarterly periodic partial withdrawals made pursuant to Section 72(t)(2)(A)(iv) of the Code;

&nbsp;&nbsp;&nbsp;&nbsp;(k) when the aggregate surrender charges under a policy exceed 9.0% of the total premium payments; and

&nbsp;&nbsp;&nbsp;&nbsp;(l) on amounts applied to Future Income Purchases, if applicable.

*Transfer Fees*

Currently, we do not charge for transfers under the policy. However, we reserve the right to charge up to $30 for each transfer after the first 12 in a given Policy Year, subject to any applicable state insurance law requirements. The charge is to compensate us for the expense of processing the transfer. The transfer charge, if applicable, will be assessed at the time that the transfer is processed and will be deducted from your Accumulation Value and taken pro rata from each Allocation Option. Each time you request a transfer, we will assess the transfer charge, if applicable. Separate requests submitted on the same day will each be treated as separate transfers. Transfers made under traditional Dollar Cost Averaging, Interest Sweep, the DCA Advantage Account, and Automatic Asset Rebalancing do not count toward this transfer limit.

*Payments Returned for Insufficient Funds*

If your premium payment is returned for insufficient funds, we reserve the right to reverse your allocation(s) and charge you a $20 fee for each returned payment. The charge is to compensate us for the expense of processing the returned payment. This charge, if applicable, will be assessed at the time the payment is reversed and will be deducted from your Accumulation Value and taken pro rata from each Allocation Option. In addition, the Portfolio may also redeem shares to cover any losses it incurs as result of a returned payment. If a payment is returned for insufficient funds for two consecutive periods, the privileges to pay by check or electronically will be suspended until the VPSC receives a written request to reinstate it in Good Order at one of the addresses noted in the "CONTACTING NYLIAC" section of the Prospectus, and we agree.

*Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 (Cancellation Charge)*

If you cancel the IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 after thirty (30) days, we will deduct a one–time Rider Risk Charge Adjustment from your Accumulation Value. This charge is to compensate NYLIAC for the costs and risks we assume in providing the benefit. The cancellation will be effective on the date that the VPSC (at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus) receives your cancellation request. (See "FEE TABLE.") In most jurisdictions, we will deduct the Rider Risk Charge Adjustment from an Investment Division or the DCA Advantage Account in proportion to its percentage of the Accumulation Value on that day. We will not deduct this charge if you surrender your policy, however, surrender charges may apply. Certain jurisdictions do not permit us to assess the Rider Risk Charge Adjustment. For more information about the jurisdiction where your policy was issued see APPENDIX 2–State Variations or contact your registered representative.

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The maximum Rider Risk Charge Adjustment is 2.00% of the amount that is guaranteed, except in the case of the 20-year rider Holding Period, which has a 1.00% maximum. We are currently charging the maximum amount. We may set a lower charge at our sole discretion. You should check with your registered representative to determine the percentage we are currently charging before you decide to cancel.

If you reset the amount that is guaranteed, a new Rider Risk Charge Adjustment may apply. This charge may be more or less than the charge currently in effect on your policy but will never exceed the stated maximum. Upon an IPR Reset, any new percentage will be effective on the Rider Reset Effective Date.

***Annual Policy Expenses***

*Base Contract Charges (M&E Charge)*

Prior to the Annuity Commencement Date, we deduct a charge from the assets of the Separate Account to compensate us for certain mortality and expense risks and administrative costs (M&E Charge) we assume under the policies and for providing policy administration services. You may choose to have the M&E Charge assessed based on either the Accumulation Value of the policy or the Adjusted Premium Payments.

We reduce the M&E Charge at the end of the Surrender Charge Period that applies to the initial premium payment.

***M&E Charges for Policies Applied For On or After May 1, 2016*** 

For policies applied for on and after May 1, 2016 whose M&E Charges are based on your policy's Accumulation Value, we assess the following M&E Charges daily:

&nbsp;&nbsp;&nbsp;&nbsp;● During the Surrender Charge Period for the initial premium, the M&E Charge is 1.20% (annualized) of the daily average Variable Accumulation Value.

&nbsp;&nbsp;&nbsp;&nbsp;● After the end of the Surrender Charge Period for the initial premium, the M&E Charge is 1.00% (annualized) of the daily average Variable Accumulation Value.

For policies applied for on and after May 1, 2016 whose M&E Charges are based on the amount of your Adjusted Premium Payments, we assess the following M&E Charges, which are deducted from the Investment Divisions through a reduction in Accumulation Units each policy quarter (excluding premiums allocated to the Fixed Account that are not transferred to the Investment Divisions):

&nbsp;&nbsp;&nbsp;&nbsp;● During the Surrender Charge Period for the initial premium, the M&E Charge is 1.30% (annualized) of the Adjusted Premium Payments.

&nbsp;&nbsp;&nbsp;&nbsp;● After the end of the Surrender Charge Period for the initial premium, the M&E Charge is 1.10% (annualized) of the Adjusted Premium Payments.

***M&E Charges for Policies Applied For Before May 1, 2016*** 

For policies applied for before May 1, 2016 whose M&E Charges are based on your policy's Accumulation Value, we assess the following M&E Charges daily:

&nbsp;&nbsp;&nbsp;&nbsp;● During the Surrender Charge Period for the initial premium, the M&E Charge is 1.30% (annualized) of the daily average Variable Accumulation Value.

&nbsp;&nbsp;&nbsp;&nbsp;● After the end of the Surrender Charge Period for the initial premium, the M&E Charge is 1.10% (annualized) of the daily average Variable Accumulation Value.

For policies applied for before May 1, 2016 whose M&E Charges are based on the amount of your Adjusted Premium Payments, we assess the following M&E Charges, which are deducted from the Investment Divisions through a reduction in Accumulation Units each policy quarter (excluding premiums allocated to the Fixed Account that are not transferred to the Investment Divisions):

&nbsp;&nbsp;&nbsp;&nbsp;● During the Surrender Charge Period for the initial premium, the M&E Charge is 1.50% (annualized) of the Adjusted Premium Payments.

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

&nbsp;&nbsp;&nbsp;&nbsp;● After the end of the Surrender Charge Period for the initial premium, the M&E Charge is 1.30% (annualized) of the Adjusted Premium Payments.

For Accumulation Value based M&E Charge policies, the M&E Charge may vary based on the Accumulation Value of the policy when the M&E Charge is deducted. For Premium-based M&E Charge policies, the M&E Charge is assessed based on the Adjusted Premium Payments and will not vary with fluctuations in the policy's Accumulation Value. We guarantee that this charge will not increase. If the charge is insufficient to cover actual costs and assumed risks, the loss will fall on NYLIAC. We expect to profit from this charge. We may use these proceeds for any corporate purpose, including expenses relating to the sale of the policies, to the extent that surrender charges do not adequately cover sales expenses.

The amount of Premium-based M&E Charges deducted from your Accumulation Value will be unaffected by fluctuations in market performance. In a rising market, the Premium-based M&E Charge structure will benefit the policyowner because the Premium based M&E Charge, when measured as a percentage of separate account assets, will be reduced. In a flat or declining market, the Premium based M&E Charge structure will result in an increase in the charge when measured against separate account assets. The amount of Accumulation Value based M&E Charges assessed to your policy will be affected by fluctuations in market performance. However, the Accumulation Value based M&E Charge structure may be more advantageous in a flat or declining market.

The mortality risk assumed is the risk that Annuitants as a group will live for a longer time than our actuarial tables predict. As a result, we would be paying more Income Payments than we planned. We also assume a risk that the mortality assumptions reflected in our guaranteed annuity payment tables, shown in each policy, will differ from actual mortality experience. Lastly, we assume a mortality risk that, at the time of death, the guaranteed minimum death benefit will exceed the policy's Accumulation Value. The expense risk assumed is the risk that the cost of issuing and administering the policies will exceed the amount we charge for these services. We expect to make a profit from this charge, which we may use for any purpose.

*Administrative Expense – Policy Service Charge*

We deduct an annual policy service charge of $30 each Policy Year on the Policy Anniversary and upon surrender of the policy. However, we will waive the annual policy service charge if your policy has $100,000 or more of Accumulation Value on a given Policy Anniversary. In addition, if you have purchased an IPR 4.0 and your cumulative first year premium(s) are greater than or equal to $25,000, we will waive your annual policy service charges for the entirety of the policy.

We deduct the annual policy service charge from each Allocation Option and the DCA Advantage Account, if applicable, in proportion to its percentage of the Accumulation Value in each option on the Policy Anniversary or date of surrender. This charge is designed to cover the costs for providing services under the policy such as collecting, processing, and confirming premium payments and establishing and maintaining the available methods of payment.

***Optional Benefit Expenses***

*Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 and Investment Preservation Rider 5.0*

The IPR, IPR 2.0, IPR 3.0 and IPR 4.0 were, and the IPR 5.0 is, available only at the time of application in jurisdictions where approved. If you purchased the IPR, IPR 2.0, IPR 3.0 or IPR 4.0 or purchase the IPR 5.0, we deduct a charge each policy quarter that the rider is in effect based on the amount that is guaranteed. The charge varies depending on the Holding Period selected. This charge is to compensate NYLIAC for the risk of the underlying guarantee provided by the rider. We deduct this charge beginning with the first policy quarter after the Rider Effective Date. (See "FEE TABLE.") See also Appendix 4 for charges applicable to previously elected IPRs, and the Rate Sheet Prospectus Supplement for current charges.) Usually, we deduct the charge from each Allocation Option in proportion to its percentage of the Accumulation Value on the first Business Day of the applicable policy quarter.

The guaranteed maximum annual charge for IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0 ranges from 1.50% to 2.00% of the amount that is guaranteed, depending on the Holding Period you choose. We may set a lower charge at our sole discretion.

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For IPR 5.0, the current charge is subject to change and will depend on when you purchase your policy. See the Rate Sheet Prospectus Supplement for the current charge applicable to new purchases.

For IPR, IPR 2.0, IPR 3.0 and IPR 4.0 Riders, the current charges range from 0.30% to 1.35% (See "FEE TABLE" for more information.)

If you elect to reset the amount that is guaranteed under your rider, a new charge for the IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0 may apply. This charge may be more or less than the charge currently in effect on your policy but will never exceed the stated guaranteed maximum. The charge in effect on the Rider Effective Date or on the Rider Reset Effective Date of any reset will not change after the date the rider (or any reset) becomes effective, unless you elect a subsequent rider reset. After a reset, we will continue to deduct the current charge until the first policy quarter following the Rider Reset Effective Date. See the Rate Sheet Prospectus Supplement for current charges applicable to IPR Resets.

*Annual Death Benefit Reset (ADBR) Rider Charge*

If you purchase the ADBR Rider, we will deduct a charge each policy quarter that the rider is in effect based on the amount that is guaranteed as of the last Reset Anniversary, less any Reset Value Proportional Reductions. This charge is to compensate NYLIAC for the risk of the underlying guarantee provided by the rider. In most jurisdictions, this charge will be deducted from each Investment Division, the DCA Advantage Account and the Fixed Account, in proportion to its percentage of the Accumulation Value of the applicable quarter and will not reduce your Adjusted Premium Payments. However, for policies issued in New York, this charge will be deducted only from the Variable Accumulation Value. This charge will continue to be deducted while the policy remains in–force.

If you applied for your policy before May 1, 2016, the charge for the ADBR Rider is based upon your age when the policy is issued, which will not change. The maximum annual charge is 1.00% of the most recent reset amount, or the initial premium payment in the first Policy Year. You should check with your registered representative to determine the percentage we are currently charging. For policies applied for before May 1, 2016, the ADBR Rider charge is as follows:

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| | | |
|:---|:---|:---|
| **Age of Oldest Owner at Issue** | **Annual Charge** | **Annual Charge** |
| 65 or younger | 0.30% | (.0750% per quarter) |
| 66 to 75 inclusive | 0.35% | (.0875% per quarter) |

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If you applied for your policy on and after May 1, 2016, the current charge for the ADBR Rider, for policyowners of all ages, is 0.25% per year (0.0625% per quarter).

*Investment Preservation Rider/Annual Death Benefit Reset Rider Package Charge (available only with policies applied for before May 1, 2016)*

For policies applied for before May 1, 2016, there was a discount if you purchased the Investment Preservation Rider/Annual Death Benefit Reset Rider combination package ("IPR + ADBR Package"), and we will deduct a reduced IPR + ADBR rider charge each policy quarter that the IPR + ADBR Package is in effect. See APPENDIX 4 for historical charges applicable to previously issued IPR + ADBR Packages (including historical IPR Resets). If you have an IPR + ADBR Package and elect an IPR Reset on or after May 1, 2019, the charges applicable to your reset will be displayed on the current Rate Sheet Prospectus Supplement. Please note that if IPR is canceled, the charge for the ADBR rider will revert to the charge that is assessed for that rider, if purchased separately.

***Annual Portfolio Expenses***

Portfolio fees and expenses are deducted from and paid out of the assets of the Portfolios. The value of the assets of the Separate Account will indirectly reflect the Portfolios' total fees and expenses. The Portfolios' total fees and expenses are not part of the policy. They may vary in amount from year to year. These fees and expenses are described in detail in the relevant Portfolio's prospectus and/or SAI. A complete list of Portfolios available under the policy, including their annual expenses, may be found in **APPENDIX 1A**.

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Certain 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 Investment Company Act of 1940. In such cases, we would administer the Portfolio fees and deduct them from your Accumulation Value or transaction proceeds.

***Group and Sponsored Arrangements***

For certain group or sponsored arrangements, we may reduce the surrender charge and the policy service charge or change the minimum initial and additional premium payment requirements. Group arrangements include those in which a trustee or an employer, for example, purchases policies covering a group of individuals on a group basis. Sponsored arrangements include those in which an employer allows us to sell policies to its employees or retirees on an individual basis.

Our costs for sales, administration, and mortality generally vary with the size and stability of the group among other factors. We take all these factors into account when reducing charges. To qualify for reduced charges, a group or sponsored arrangement must meet certain requirements, including our requirements for size and number of years in existence. Group or sponsored arrangements that have been set up solely to buy policies or that have been in existence less than six months will not qualify for reduced charges.

We will make any reductions according to our rules in effect when an application or enrollment form for a policy is approved. We may change these rules from time to time. Any variation in the surrender charge or policy service charge will reflect differences in costs or services and will not be unfairly discriminatory.

***Taxes***

NYLIAC may, where premium taxes are imposed by state law, deduct such taxes from your policy either: (i) when a surrender, Future Income Purchase or cancellation occurs, or (ii) at the Annuity Commencement Date or the Future Income Start Date. Applicable premium tax rates depend upon such factors as your current state of residency, and the insurance laws and NYLIAC's status in states where premium taxes are incurred. Current premium tax rates range from 0% to 3.5%. Applicable premium tax rates are subject to change by legislation, administrative interpretations or judicial acts.

We may in the future seek to amend the policies to deduct premium taxes when a premium payment is received.

Under present laws, NYLIAC will also incur state and local taxes (in addition to the premium taxes described above) in several states. NYLIAC may assess charges for such taxes.

NYLIAC does not expect to incur any federal income tax liability attributable to investment income or capital gains retained as part of the Separate Account reserves under the policies. (See "FEDERAL TAX MATTERS.") Based upon these expectations, no charge is being made currently for corporate federal income taxes which may be attributable to the Separate Account. Such a charge may be made in future years for any federal income taxes NYLIAC incurs.

**Distributions Under The Policy**

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***Surrenders and Withdrawals***

You can make partial withdrawals, periodic partial withdrawals, hardship withdrawals, or surrender the policy to receive part or all of the Accumulation Value at any time before the Annuity Commencement Date and while the Annuitant is living. To request a surrender or withdrawal, you can send a written request in Good Order to the VPSC at one of the addresses listed on the "CONTACTING NYLIAC" section of this Prospectus or utilize any other method we make available. Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion. If the request is in Good Order, the amount available for withdrawal is the Accumulation Value at the end of the Business Day that the VPSC receives the written request, less any surrender charges, taxes that we may deduct, and the annual policy service charge, if applicable. If you have not provided us with a written election not to withhold federal income taxes at the time you make a withdrawal or surrender request, NYLIAC must by law withhold such taxes from the taxable portion of any surrender or withdrawal. We will remit that amount to the federal government. In addition, some states have enacted legislation requiring withholding. You can also request a partial withdrawal online at www.newyorklife.com or the mobile application. NYLIAC will pay all surrenders or withdrawals

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within seven days of receipt of all required information in Good Order (including documents necessary to comply with federal and state tax law), subject to postponement in certain circumstances. (See "THE POLICIES—Delay of Payments").

Since you assume the investment risk with respect to amounts allocated to the Separate Account and because certain surrenders or withdrawals are subject to a surrender charge and premium tax deduction, the total amount paid upon surrender of the policy (taking into account any prior withdrawals) may be more or less than the total premium payments made.

Surrenders and withdrawals may be taxable transactions, and the Code provides that a 10% penalty tax may be imposed on certain early surrenders or withdrawals made before the Owner attains age 59½ (the penalty tax is increased to 25% in the case of a distribution from a SIMPLE IRA within the first two years of your participation in the SIMPLE IRA Plan.) (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.") In addition, taxable surrenders and withdrawals may be subject to an additional 3.8 percent tax on net investment income. (See "FEDERAL TAX MATTERS—3.8 Percent Tax on Certain Investment Income.")

*Surrenders*

We may deduct a surrender charge and any state premium tax, if applicable, any outstanding loan balance, and the annual policy service charge, if applicable, from the amount paid. For surrender requests over $50,000, we may require additional verification of your identity before the request can be deemed in Good Order. For surrender requests of any size, if your address or bank account information has been on file with us for less than thirty (30) days, we may require additional verification of your identity before we will process a request to send surrender proceeds electronically to that bank account or through the mail to that address. (See "ANNUITY PAYMENTS (THE INCOME PHASE)—Income Payments.") Surrenders may be taxable transactions and a 10% penalty tax may be applicable if the surrender is made before the Owner attains age 59½. (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.")

*Partial Withdrawals*

The minimum amount that can be withdrawn is $500 unless we agree otherwise. We will withdraw the amount from the Allocation Options in accordance with your request. However, if you do not specify how to allocate a partial withdrawal among the Allocation Options or if the IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 is in effect, we will deduct the partial withdrawal on a pro-rata basis. Your requested partial withdrawal will be effective on the date we receive your request in Good Order at the VPSC or online at www.newyorklife.com or the mobile application. However, if that day is not a Business Day or if your request is received after the close of the NYSE, then the requested partial withdrawal will be effective on the next Business Day. Generally, we will pay the partial withdrawal within seven days of that date. Partial withdrawals may be taxable transactions and the 10% penalty tax provisions may be applicable. (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.")

If a surrender charge applies to your partial withdrawal, surrender charges will be deducted from the amount paid to you unless you instruct us otherwise. You may, however, request to have the surrender charges taken from the remaining value of the Allocation Options from which partial withdrawals are made. If you specify the Allocation Options from which to make the withdrawal, we will deduct the surrender charge pro-rata according to your instructions. If you do not specify the Allocation Options from which to make the withdrawal, we will deduct the surrender charge pro-rata from each Allocation Option.

If the requested partial withdrawal is equal to the value in any of the Allocation Options from which the partial withdrawal is being made, we will pay the entire value of that Allocation Option and/or the DCA Advantage Account, less any surrender charge that may apply to you. If honoring a partial withdrawal request would result in an Accumulation Value that would provide Income Payments of less than $20 per month on the Annuity Commencement Date, we reserve the right to terminate your policy and pay you the Accumulation Value in a single sum, subject to any applicable state insurance law or regulation. We will notify you of our intention to exercise this right and give you 90 days to make a premium payment. If we terminate your policy, we will pay you the Accumulation Value of your policy in one lump sum.

Currently, online withdrawals cannot exceed $250,000 and telephone partial withdrawals cannot exceed $100,000. We may require additional verification of your identity for written or telephone partial withdrawal requests for amounts

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greater than $50,000 before the request can be deemed in Good Order. For withdrawal requests of any size, if your address or bank account information has been on file with us for less than 30 days, we may require the request in writing or require additional verification of your identity, in a means acceptable to us, before we will process a request to send partial withdrawal proceeds electronically to that bank account or through the mail to that address. In addition, partial withdrawal requests made from policies that are less than 90 days old or that had an ownership change within 30 days of such partial withdrawal request must be made in writing and sent to the VPSC at one of the addresses noted in the "CONTACTING NYLIAC" section of this Prospectus. Faxed and e-mailed requests are not currently accepted; however, we reserve the right to accept them at our discretion.

**It is important to note that any withdrawal may reduce the Guaranteed Amount under the Investment Preservation Riders and death benefit proportionally.**

*Periodic Partial Withdrawals*

You may elect to receive regularly scheduled partial withdrawals from the policy. These periodic partial withdrawals may 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 29<sup>th</sup>, 30<sup>th</sup>, or 31<sup>st</sup> of a month). 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). To process Periodic Partial Withdrawals, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus, or utilize any other method we make available. NYLIAC must receive a request no later than five Business Days prior to the date the withdrawals are to begin. If we receive your request less than five Business Days prior to the date you request withdrawals to begin, the withdrawals will begin on the day of the month you specify in the month following the receipt of your request. Faxed and e-mailed requests are not currently accepted; however, we reserve the right to accept them at our discretion. You may specify the Allocation Options from which the periodic partial withdrawals will be made. The minimum amount is $100, or such lower amount as we may permit. Periodic partial withdrawals may be taxable transactions and the 10% penalty tax provisions may be applicable. (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.") If you do not specify otherwise, we will withdraw money on a pro-rata basis from each Investment Division and/or the Fixed Account. You may not make periodic partial withdrawals from the DCA Advantage Account. You can elect to receive "Interest Only" periodic partial withdrawals for the interest earned on monies allocated to the Fixed Account. If this option is chosen, the $100 minimum for periodic partial withdrawals will be waived. However, you must have at least $5,000 in the Fixed Account at the time of each periodic partial withdrawal, unless we agree otherwise.

**It is important to note that any withdrawal may reduce the Guaranteed Amount under the Investment Preservation Riders and death benefit proportionally.**

*Hardship Withdrawals*

Under certain Qualified Policies, the Plan Administrator (as defined in Code Section 414(g)) may allow, in its sole discretion, certain withdrawals it determines to be "Hardship Withdrawals." The surrender charge and 10% penalty tax, if applicable, and provisions applicable to partial withdrawals apply to Hardship Withdrawals.

***Required Minimum Distributions***

The age when required minimum distributions must begin for IRAs, SIMPLE IRAs, SEP IRAs, and TSAs is now based on your "applicable age" as defined in the Code.

If you were born prior to July 1, 1949, your applicable age was 70½. If you were born on or after July 1, 1949, and before January 1, 1951, your applicable age was 72. If you were born on or after January 1, 1951 and before January 1, 1960, your applicable age is 73. If you were born on or after January 1, 1960, your applicable age is 75.

For IRAs, SIMPLE IRAs and SEP IRAs, the policyowner is generally not required to start taking required minimum distributions until April 1st of the year following the calendar year he or she attains their applicable age. For TSAs, the policyowner is generally not required to start taking required minimum distributions until April 1st of the year following the later of the calendar year he or she attains their applicable age or the calendar year he or she retires. For Inherited IRAs and Inherited Roth IRAs, a policyowner is generally required to take the first required minimum distribution on or before December 31 of the calendar year following the year of the original owner's death. For

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Inherited Non-Qualified policies, the policyowner is generally required to take the first required minimum distribution prior to the first anniversary of the original owner's death.

***Our Right to Cancel***

In most jurisdictions, if we do not receive any premium payments for a period of two years, and the Accumulation Value of your policy would provide Income Payments of less than $20 per month on the Annuity Commencement Date, we reserve the right to terminate your policy subject to any applicable state insurance law or regulation. We will notify you of our intention to exercise this right and, provided that you are not older than the maximum age for making a premium payment as stated on the Policy Data Page, give you 90 days to make a premium payment. If we terminate your policy, we will pay you the Accumulation Value of your policy in one lump sum. For more information about our right to cancel policies issued in New York, see APPENDIX 3 – State Variations.

***Restrictions Under Code Section 403(b)(11)***

With respect to 403(b) TSAs, distributions attributable to salary reduction contributions made in years beginning after December 31, 1988 (including the earnings on these contributions), as well as to earnings in such years on salary reduction accumulations held as of the end of the last year beginning before January 1, 1989, may not begin before the employee attains age 59½, has a severance from employment, dies or becomes disabled. The Code section 403(b) plan may also provide for distribution in the case of hardship. However, hardship distributions are limited to amounts contributed by salary reduction. The earnings on such amounts may not be withdrawn. However, for plan years beginning after December 31, 2023, all amounts are available for a hardship distribution. Even though a distribution may be permitted under these rules (e.g., for hardship or due to a severance from employment), it may still be subject to a 10% additional income tax as a premature distribution.

Under the final Code section 403(b) regulations, which the Department of Treasury published on July 26, 2007, employer contributions made to Code section 403(b) TSA contracts will be subject to new withdrawal restrictions. Under the new rules, amounts attributable to employer contributions to a Code section 403(b) TSA contract that is issued after December 31, 2008 may not be distributed earlier than the earliest of severance from employment or upon the occurrence of a certain event, such as after a fixed number of years, the attainment of a stated age, or disability. These new withdrawal restrictions do not apply to Code section 403(b) TSA contracts issued before January 1, 2009.

Under the terms of your Code section 403(b) plan, you may have the option to invest in other funding vehicles, including Code section 403(b)(7) custodial accounts. You should consult your plan document to make this determination.

***Loans***

***Availability of Loans and Limitations****.* Loans are available only if you have purchased an Accumulation Value–based M&E Charge policy in connection with a 403(b) Tax–Sheltered Annuity ("TSA") plan. Loans are not available for policies with IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0. Under your 403(b) policy, you may borrow against your policy's Accumulation Value prior to the Annuity Commencement Date. Unless we agree otherwise, only one loan may be outstanding at a time. There must be a minimum Accumulation Value of $5,000 in the policy at the time of the loan. The minimum loan amount is $500, unless you are using the loan to purchase a primary residence, as described below. The maximum loan that you may take is the lesser of: (a) 50% of the policy's Accumulation Value on the date of the loan or (b) $50,000 minus your highest outstanding principal balance in the previous 12 months from your policy and any qualified employer plan (as defined under Sections 72(p)(4) and 72(p)(2)(D) of the Code). Please note that adverse tax consequences could result from your failure to comply with this limitation. NYLIAC, and its affiliates and agents do not provide legal or tax advice nor assume responsibility or liability for any legal or tax consequences of any TSA loan taken under a 403(b) policy or the compliance of such loan with the Code limitations set forth in this paragraph or for determining whether any plan or loan is subject to and/or complies with ERISA.

*Your Policy as Collateral for a Loan.* Your policy will be used as collateral to secure this loan. Any amount that secures a loan remains part of your policy's Accumulation Value, but it is transferred to the Fixed Account. We credit any amount that secures a loan (the loaned amount) with an interest rate that we expect to be different than the interest rate we credit any unloaned amount in the Fixed Account.

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When you request a loan, a transfer of funds will be made from the Separate Account (and/or DCA Advantage Accounts, if so requested) to the Fixed Account so that the Accumulation Value in the Fixed Account is at least 125% of the requested loan amount. We will transfer these funds from the Investment Divisions of the Separate Account (and/or DCA Advantage Accounts, if so requested) in accordance with your instructions or, if you have not provided us with any instructions, in proportion to the amounts you have in each Investment Division (and/or DCA Advantage Accounts, if so requested). While any policy loan is outstanding, you may not make any partial withdrawals or transfers which would reduce the Fixed Account Accumulation Value to an amount that is less than 125% of the outstanding loan balance, or which will reduce your Accumulation Value net of the outstanding loan to less than $5,000.

*Interest Charged for a Loan.* For policies not governed by ERISA, we charge an effective annual loan interest rate of 5%. For policies governed by ERISA, the interest rate we charge will be based on the Prime Rate, as reported in the Wall Street Journal on the first Business Day of a calendar year or the Moody's Corporate Bond Yield Average as of two months before the date the rate is determined. The rate is determined on the first Business Day of the calendar year. Once set, the interest rate will be fixed for the life of the loan. Interest accrues daily and is charged quarterly as part of your periodic loan repayments.

*Interest Credited on the Fixed Account Accumulation Value Held as Collateral for a Policy Loan.* When you take a loan against your policy, the loaned amount that we hold in the Fixed Account as collateral for your policy loan may earn interest at a different rate from the rate that we charge you for loan interest. The rate we credit on the loaned amount in the Fixed Account may also be different from the rate we credit on other amounts in the Fixed Account. For the amount held in the Fixed Account that is used to secure 100% of the outstanding loan value, we will credit interest at a rate that is 2% less than the interest rate charged on the loan. The additional 25% being held in the Fixed Account to secure the loan will be credited with the current declared interest rate for the Fixed Account. The credited interest rate will always be at least equal to the minimum guaranteed interest rate stated on the Policy Data Page. Interest is credited on a daily basis.

*Requesting a Loan.* We reserve the right to withdraw a loan processing fee of $25 from the Accumulation Value on a pro rata basis, unless prohibited by applicable state law or regulation. To request a loan, you must send a written request in Good Order to the VPSC. 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 a form acceptable to us, before we will process a request to send loan proceeds electronically to that bank account or through the mail to that address.

*When Loan Payments are Due.* Once you take a loan, your scheduled loan repayments (which include accrued loan interest), are due quarterly and over a period no greater than five years from the date it is taken (except with respect to loans taken to purchase a principal residence as explained below). If you do not make a loan payment when it is due, we will withdraw the amount in default from your Fixed Accumulation Value to the extent permitted by federal income tax rules. We will take such a repayment on a first–in, first–out (FIFO) basis from amounts allocated to the Fixed Account.

Loan payments must be sent to the VPSC at the address as shown in the "CONTACTING NYLIAC" section of this prospectus (or any other address we indicate to you in writing). Loan repayments are applied in accordance with your existing premium allocation instructions unless you provide alternate instructions in writing.

The entire amount of your outstanding loan may be treated as a taxable distribution.

*Loans used to Acquire a Principal Residence.* We permit loans to acquire a principal residence under the same terms described above, except that:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the minimum loan amount is $5,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) repayment of the loan amount may be extended to a maximum of twenty–five years.

*The Effects of a Policy Loan on Accumulation Value, Income Payments and the Standard Death Benefit.* A loan, repaid or not, has a permanent effect on your Accumulation Value. This effect occurs because amounts borrowed are removed from your Investment Divisions (which receive investment performance) and placed into the Fixed 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 Accumulation Value. The effect could be favorable or unfavorable. If the Investment Divisions earn more than the annual interest rate credited to loaned amounts held in the Fixed Account, your Accumulation Value will not increase as rapidly as it would have had no loan

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been made. If the Investment Divisions earn less than the interest credited to loaned amounts held in the Fixed Account, then your Accumulation 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 proceeds that might otherwise be payable as Income Payments or under your Policy's Standard Death Benefit.

We deduct any outstanding loan balance including any accrued interest from the Fixed Accumulation Value prior to payment of a surrender or the commencement of the annuity benefits. On death of the policyowner or Annuitant, we deduct any outstanding loan balance plus accrued loan interest from the Fixed Accumulation Value as a partial withdrawal as of the date we receive the notice of death.

Loans are subject to the terms of the policy, your 403(b) plan and the Code, which may impose restrictions upon them. We reserve the right to suspend, modify, or terminate the availability of loans under this policy at any time. However, any action taken by us will not affect already outstanding loans. **Also note that for Premium–Based M&E Charge policies purchased in connection with TSA plans, you may not borrow any portion of your Accumulation Value.**

**Annuity Payments (The Income Phase)**

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***Annuity Commencement Date***

The income phase of your policy occurs when you begin receiving regular payments from us (Income Payments). The Annuity Commencement Date is the day those Income Payments begin (sometimes referred to as annuitization of the policy) unless the policy has been surrendered or an amount has been paid as proceeds to the designated Beneficiary prior to that date. The Annuity Commencement Date is the date specified on the Policy Data Page, but is usually the date you attain age 95. The earliest possible Annuity Commencement Date is the first Policy Anniversary. If we agree, you may change the Annuity Commencement Date to an earlier date. If we agree, you may also defer the Annuity Commencement Date to a later date, which could be as late as the date you attain age 115, provided that we receive notice of the request in Good Order at least one month before the last selected Annuity Commencement Date, and that applicable state law permits a deferral to such date. To request to change or defer the Annuity Commencement Date to a later date, subject to the constraints noted above, you must provide notice in a form acceptable to us (or as required under state law) in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. You may not withdraw any Accumulation Value from your policy after the Annuity Commencement Date. Any request for a partial withdrawal must be received at least 30 days prior to the Annuity Commencement Date.

The Annuity Commencement Date and Income Payment method for Qualified Policies and Inherited Non-Qualified policies may also be controlled by endorsements, the plan, or applicable law.

***Income Payments***

*Election of Income Payment Options*

On the Annuity Commencement Date, the Accumulation Value will be applied to provide a monthly Income Payment. For most policies, Income Payments will not be less than those that we would provide to the same class of Annuitants if the Accumulation Value, less any applicable Surrender Charges, was used to purchase any single premium immediate annuity offered by NYLIAC on the Annuity Commencement Date. For more information about policies issued in New York, California, Delaware, Florida, North Dakota, South Dakota, and Washington DC, see APPENDIX 3, State Variations.

Unless you instruct us otherwise, we will make Income Payments under the Life Income – Guaranteed Period Payment Option, under which we will make equal Income Payments for your lifetime or for ten (10) years, if you die before receiving ten (10) years of Income Payments. (See "ANNUITY PAYMENTS" in the Statement of Additional Information.) However, on or before the Annuity Commencement Date, you can elect to receive Income Payments under such other option we may offer at that time where permitted by state laws. We will require that a lump sum payment be made if the Accumulation Value is an amount that would provide Income Payments of less than $20 a month on the Annuity Commencement Date. If the Life Income – Guaranteed Period Payment Option is not chosen, you may change the Income Payment option or request any other method of payment we agree to at any time before the Annuity Commencement Date. To change the Income Payment option or to request another method of payment

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prior to the Annuity Commencement Date, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. However, once payments begin, you may not change the option. If a life Income Payment option is chosen, we may require proof of birth date before Income Payments begin. For Income Payment options involving life income, the actual age of the Annuitant(s) will affect the amount of each payment. Since payments based on older Annuitants are expected to be fewer in number, the amount of each annuity payment should be greater. We will make payments under the Life Income Guaranteed Period Payment Option in the same specified amount and over the life of the Annuitant(s) with a guarantee of ten (10) years of payments, even if an Annuitant dies sooner. NYLIAC does not currently offer variable Income Payment options.

A policyowner may elect to apply a portion of the Accumulation Value toward one of the Income Payment options we may offer, while the remainder of the policy continues to accumulate income on a tax–deferred basis. This is called a partial annuitization. A partial annuitization will reduce the benefits provided under the policy. The Accumulation Value will be reduced by the amount placed under one of the Income Payment options we may offer. Under a partial annuitization, the policy's Accumulation Value, any riders under the policy and any charges assessed will be treated the same as they would under any other withdrawal from the policy's Accumulation Value, except that surrender charges will not be assessed. (See "FEDERAL TAX MATTERS.") Partial annuitization is not available for Inherited Non-Qualified or Inherited Roth IRA policies.

**It is important to note that partial annuitizations will reduce the Standard Death Benefit and any optional benefit proportionally.** 

Under Income Payment options involving life income, the Payee may not receive Income Payments equal to the total premium payments made under the policy if the Annuitant dies before the actuarially predicted date of death. We base Income Payment options involving life income on annuity tables that vary on the basis of gender, unless the policy was issued under an employer sponsored plan or in a state which requires unisex rates.

Taxable Income Payments may be subject to an additional 3.8 percent tax on net investment income. (See "FEDERAL TAX MATTERS—3.8 Percent Tax on Certain Investment Income.")

*Proof of Survivorship*

We may require satisfactory proof of survival from time to time, before we pay any Income Payments or other benefits. We will request the proof at least 30 days prior to the next scheduled Payment Date.

**The Fixed Account**

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The Fixed Account is backed by assets in NYLIAC's general account, which includes all of NYLIAC's assets except those assets specifically allocated to NYLIAC's separate accounts. NYLIAC has sole discretion to invest the assets of the Fixed Account subject to applicable law. The Fixed Account is not registered under the federal securities laws and is generally not subject to their provisions. Therefore, generally you do not have the benefits and protections of these statutes for amounts allocated to the Fixed Account. These disclosures regarding the Fixed Account may be subject to certain applicable provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses. If the five–year Constant Maturity Treasury Rate, less 125 basis points, is below 3%, we may refuse the allocation of all or a portion of your Premium Payment to the Fixed Account.

*Interest Crediting*

NYLIAC guarantees that it will credit interest at an annual effective rate of at least the minimum guaranteed interest rate stated on the Policy Data Page of your policy, to amounts allocated or transferred to the Fixed Account under the policies. The guaranteed minimum interest rate will never be lower than 0.05% and as of the date of this Prospectus, the guaranteed minimum interest rate is 0.05%. Please contact your registered representative for the current guaranteed minimum interest rate. We credit interest on a daily basis. NYLIAC may, at its sole discretion, credit a higher rate or rates of interest to amounts allocated or transferred to the Fixed Account.

Interest rates will be set on the anniversary of each premium payment or transfer. All premium payments, and additional amounts (including transfers from other Investment Divisions) allocated to the Fixed Account, plus prior interest earned on such amounts, will receive their applicable interest rate for one–year periods from the anniversary

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on which the allocation or transfer was made. The Fixed Account Accumulation Value will never be less than the Fixed Account portion of the Nonforfeiture Value.

Information regarding the features of the Fixed Account, including (i) its name and (ii) its guaranteed minimum interest rate, is available in an appendix to the prospectus. See Appendix 1A - Investment Options Available Under the Policy.

*Transfers Between the Fixed Account and Investment Divisions or an Asset Allocation Model*

Generally, you may transfer amounts from the Fixed Account (if applicable) to the Investment Divisions or an available Asset Allocation Model up to 30 days prior to the Annuity Commencement Date, subject to the following conditions.

&nbsp;&nbsp;&nbsp;&nbsp;1. The maximum amount you are allowed to transfer from the Fixed Account to the Investment Divisions or an available Asset Allocation Model, including Interest Sweep transfers, during any Policy Year while the Surrender Charge Period for the initial premium payment is in effect is 25% of the highest attained Fixed Account Accumulation Value as of the beginning of each Policy Year. When the Surrender Charge Period for the initial premium payment is no longer in effect, the maximum amount that you are allowed to transfer from the Fixed Account to the Investment Divisions or an Asset Allocation Model may not exceed 50% of the highest attained Fixed Account Accumulation Value as of the beginning of each Policy Year, regardless of any new Surrender Charge Periods applicable to additional premium payments. The highest attained Fixed Account Accumulation Value will decrease by the amount of any withdrawals made from the Fixed Account and increase by the amount of any additional premium payments made to the Fixed Account. When the Fixed Account Accumulation Value is zero, all previous Fixed Account Accumulation values are disregarded, and the next Premium Payment to the Fixed Account will then be considered the highest attained Fixed Account Accumulation Value until a subsequent anniversary results in a higher balance.

&nbsp;&nbsp;&nbsp;&nbsp;2. The remaining value in the Fixed Account after a transfer from the Fixed Account to the Investment Divisions or an available Asset Allocation Model must be at least $25. If, after a contemplated transfer, the remaining values in the Fixed Account would be less than $25, that amount must be included in the transfer, unless NYLIAC in its discretion permits otherwise. We determine amounts transferred from the Fixed Account on a first–in, first–out (FIFO) basis, for purposes of determining the rate at which we credit interest on amounts remaining in the Fixed Account.

&nbsp;&nbsp;&nbsp;&nbsp;3. For Premium Based M&E Charge policies, transfers are not allowed into the Fixed Account.

&nbsp;&nbsp;&nbsp;&nbsp;4. For Account Value based M&E Charge policies, transfers from the Investment Divisions to the Fixed Account must be at least $500.

For Premium based M&E Charge policies, premium payments transferred from the Fixed Account to the Investment Divisions or an Asset Allocation Model are subject to a Mortality and Expense Risk and Administrative Costs Charge.

Except as part of an existing request relating to the traditional Dollar Cost Averaging or the Interest Sweep option, you may not transfer money into the Fixed Account if you made a transfer out of the Fixed Account during the previous six–month period.

You must make transfer requests in writing in Good Order and send them to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus, by telephone in accordance with established procedures, or through our online service at www.newyorklife.com or the mobile application. Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion.

We will deduct partial withdrawals and apply any surrender charges to the Fixed Account on a FIFO basis (i.e., from any value in the Fixed Account attributable to premium payments or transfers from Investment Divisions or an Asset Allocation Model in the same order in which you allocated such payments or transfers to the Fixed Account during the life of the policy).

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**The DCA Advantage Account**

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Like the Fixed Account, the DCA Advantage Account is also held in NYLIAC's general account. The DCA Advantage Account is not registered under the federal securities laws. The information contained in the first paragraph under "THE FIXED ACCOUNT" applies equally to the DCA Advantage Account.

Information regarding the features of the DCA Advantage Account, including (i) its name, (ii) its term, and (iii) its guaranteed minimum interest rate, is available in an appendix to the prospectus. See Appendix 1A: Investment Options Available Under the Policy.

NYLIAC will set interest rates in advance for each date on which we may receive a premium payment to the DCA Advantage Account. We will never declare less than the minimum guaranteed interest rate stated on the Policy Data Page of your policy. The guaranteed minimum interest rate will never be lower than 0.05% and as of the date of this Prospectus, the guaranteed minimum interest rate is 0.05%. If you choose to allocate your initial premium payment to the DCA Advantage Account, the initial premium, and any subsequent premium payments we receive for an initial DCA Advantage Account that is already open, will earn interest at the rate in effect on the date you signed your application. If an additional premium payment is allocated to the DCA Account after the duration of the initial account has expired, the DCA Advantage Account will be re-activated and will earn interest at the rate in effect on the Business Day we receive the premium payment.

Interest rates for subsequent premium payments made into the DCA Advantage Account may be different from the rate applied to prior premium payments made into the DCA Advantage Account. The DCA Advantage Account Accumulation Value will never be less than the DCA Advantage Account portion of the Nonforfeiture Value.

The annual effective rate that we declare is credited only to amounts remaining in the DCA Advantage Account. We credit the interest on a daily basis. Because money is periodically transferred out of the DCA Advantage Account, amounts in the DCA Advantage Account will not achieve the declared annual effective rate. Please note that interest credited under the DCA Advantage Account will exceed the actual investment earnings of NYLIAC less appropriate risk and expense adjustments. **Excess interest amounts credited to the DCA Advantage Account will be recovered by fees and charges associated with the Investment Divisions in later Policy Years. The interest credited in later Policy Years may be less than that for the first Policy Year.**

**Federal Tax Matters**

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***Introduction***

**The following discussion is general and is not intended as tax advice.** We issue both Qualified and Non-Qualified Policies. Both types of policies offer tax-deferred accumulation. A Non-Qualified Policy can provide for retirement income other than through a tax-qualified plan. Qualified Policies are designed for use by individuals in retirement plans which are intended to qualify as plans qualified for special income tax treatment under Sections 219, 403(b), 408, or 408A of the Code. The ultimate effect of federal income taxes on the Accumulation Value, on Income Payments, and on the economic benefit to you, the Annuitant or the Beneficiary depends on the type of retirement plan for which the Qualified Policy is purchased, on the tax and employment status of the individual concerned and on NYLIAC's tax status. The following discussion assumes that Qualified Policies are used in retirement plans that qualify for the special federal income tax treatment described above. This discussion is not intended to address the tax consequences resulting from all of the situations in which a person may be entitled to or may receive a distribution under a policy. Any person concerned about these tax implications should consult a tax adviser before making a premium payment. This discussion is based upon NYLIAC's understanding of the present federal income tax laws as they are currently interpreted by the Internal Revenue Service. We cannot predict the likelihood of continuation of the present federal income tax laws or of the current interpretations by the Internal Revenue Service, which may change from time to time without notice. Any such change could have retroactive effects regardless of the date of enactment. Moreover, this discussion does not take into consideration any applicable state or other tax laws except with respect to the imposition of any state premium taxes. We suggest you consult with your tax adviser.

***Taxation of Annuities in General***

The following discussion assumes that the policies will qualify as annuity contracts for federal income tax purposes. The Statement of Additional Information discusses such qualifications.

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Section 72 of the Code governs taxation of annuities in general. NYLIAC believes that an annuity policyowner generally is not taxed on increases in the value of a policy until distribution occurs either in the form of a lump sum received by withdrawing all or part of the Accumulation Value (i.e., surrenders or partial withdrawals) or as Income Payments under the Income Payment option elected. The exception to this rule is that generally, a policyowner of any deferred annuity policy who is not a natural person must include in income any increase in the excess of the policyowner's Accumulation Value over the policyowner's investment in the contract during the taxable year. However, there are some exceptions to this exception. You may wish to discuss these with your tax advisor. The taxable portion of a distribution (in the form of an annuity or lump sum payment) is generally taxed as ordinary income. For this purpose, the assignment, pledge, or agreement to assign or pledge any portion of the Accumulation Value generally will be treated as a distribution.

In the case of a withdrawal or surrender distributed to a participant or Beneficiary under a Qualified Policy, a ratable portion of the amount received is taxable, generally based on the ratio of the investment in the contract to the total policy value. The "investment in the contract" generally equals the portion, if any, of any premium payments paid by or on behalf of an individual under a policy which is not excluded from the individual's gross income. For policies issued in connection with qualified plans, the "investment in the contract" can be zero. The law requires the use of special simplified methods to determine the taxable amount of payments that are based in whole or in part on the Annuitant's life and that are paid from TSAs.

Generally, in the case of a withdrawal under a Non-Qualified Policy before the Annuity Commencement Date, amounts received are first treated as taxable income to the extent that the Accumulation Value immediately before the withdrawal exceeds the "investment in the contract" at that time. Any additional amount withdrawn is not taxable. On the other hand, upon a full surrender of a Non-Qualified Policy, if the "investment in the contract" exceeds the Accumulation Value (less any surrender charges), the loss is treated as an ordinary loss for federal income tax purposes. However, limitations may apply to the amount of the loss that may be deductible.

Although the tax consequences may vary depending on the Income Payment option elected under the policy, in general, only the portion of the Income Payment that represents the amount by which the Accumulation Value exceeds the "investment in the contract" will be taxed. After the investment in the Policy is recovered, the full amount of any additional Income Payments is taxable. For fixed Income Payments, in general, there is no tax on the portion of each payment which represents the same ratio that the "investment in the contract" bears to the total expected value of the Income Payments for the term of the payments. However, the remainder of each Income Payment is taxable until the recovery of the investment in the contract, and thereafter the full amount of each annuity payment is taxable. If death occurs before full recovery of the investment in the contract, the unrecovered amount may be deducted on the Annuitant's final tax return.

A policyowner may elect to apply a portion of the Accumulation Value towards one of the Income Payment options we may offer, while the remainder of the policy continues to accumulate income on a tax-deferred basis. This is called a partial annuitization. If a policyowner chooses to partially annuitize a policy, the resulting payments will be taxed as fixed Income Payments described above, only if such payments are received for one of the following periods: (1) the Annuitant's life (or the lives of the joint Annuitants, if applicable), or (2) a period of 10 years or more. Provided such requirements are met, the "investment in the contract" will be allocated pro rata between each portion of the policy from which amounts are received as an annuity and the portion of the policy from which amounts are not received as an annuity. It is our understanding that the commencement of Future Income Payments before the Annuity Commencement Date will be treated as a partial annuitization of the policy. As such, the investment in the contract will be allocated pro rata between the Future Income Payments and the Accumulation Value. Although there is some uncertainty regarding when the investment in the contract should be allocated, we believe that allocation at commencement of Future Income Payments is consistent with Code Section 72(a)(2), which provides for partial annuitization treatment if any amount is "received" as an annuity (and other applicable requirements are met). In light of this uncertainty, however, you should consult a tax adviser before making a Future Income Purchase.

In the case of a distribution, a penalty tax equal to 10% of the amount treated as taxable income may be imposed. The penalty tax is not imposed in certain circumstances, including, generally, distributions: (1) made on or after the date on which the policyowner attains age 59½, (2) made as a result of the policyowner's (or, where the policyowner is not an individual, the Annuitant's) death, (3) made as a result of the policyowner's disability, (4) which are part of a series of substantially equal periodic payments (at least annually) made for the life (or life expectancy) of the policyowner or the joint lives (or joint life expectancies) of the policyowner and his or her designated beneficiary, or

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

(5) received from an Inherited IRA. Other tax penalties may apply to certain distributions pursuant to a Qualified Policy. For more details regarding this penalty tax and other exemptions that may be applicable, please consult a tax adviser.

All non-qualified, deferred annuity contracts issued by NYLIAC (or its affiliates) to the same policyowner during any calendar year are to be treated as one annuity contract for purposes of determining the extent to which an amount not received as an annuity is includible in an individual's gross income. In addition, there may be other situations in which the Treasury Department may conclude (under its authority to issue regulations) that it would be appropriate to aggregate two or more annuity contracts purchased by the same policyowner. Accordingly, a policyowner should consult a tax adviser before purchasing more than one policy or other annuity contract.

A transfer of ownership of a policy, or designation of an Annuitant or other Beneficiary who is not also the policyowner, may result in certain income or gift tax consequences to the policyowner. A policyowner contemplating any transfer or assignment of a policy should consult a tax adviser with respect to the potential tax effects of such a transaction.

***3.8 Percent 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., an 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 the policy, distributions or withdrawals from the policy, or the exercise of other rights and features under this annuity contract.

***Partial Section 1035 Exchanges***

Section 1035 of the Code provides that an annuity contract may be exchanged in a tax-free transaction for another annuity contract or a long-term care insurance policy. The IRS has issued guidance which provides that the direct transfer of a portion of an annuity contract into another annuity contract can qualify as a tax-free exchange, provided that no amounts (other than annuity payments made for life or for a term of at least 10 years) are distributed from either contract involved in the exchange for 180 days following the date of the transfer. If a taxpayer takes a distribution during this 180-day waiting period, the IRS guidance provides that the IRS will apply general tax principles to determine the tax treatment of the transfer and/or the distribution (e.g., in appropriate circumstances, as taxable "boot" or as a taxable distribution, effectively negating the tax-free exchange).

This IRS guidance, however, does not address the tax treatment of a partial exchange of an annuity contract for a long-term care insurance policy. Although we believe that taking a distribution or withdrawal from the Contract described in this Prospectus within 180 days of a partial exchange of such Contract for a long-term care insurance policy should not cause such prior partial exchange to be treated as taxable, there can be no assurance that the IRS will not expand the 180-day rule described above to partial exchanges of an annuity contract for a long-term care insurance policy, or that the IRS will not provide other guidance with respect to such partial exchanges. **If you contemplate such an exchange, you should consult a tax advisor to discuss the potential tax effects of such a transaction.**

***Inherited Non–Qualified Policies***

An Inherited Non–Qualified Annuity is an annuity contract that is held for the benefit of the beneficiary of a deceased annuity contract owner in order to distribute death proceeds of a non-qualified annuity to the beneficiary over that beneficiary's life expectancy in accordance with the required distribution rules of IRC Section 72(s).

The source of the funds used to purchase an Inherited Non–Qualified Annuity must be a 1035 exchange of (i) death benefit proceeds payable to the beneficiary under a non-qualified annuity contract, or (ii) an Inherited

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Non-Qualified Annuity contract under which the beneficiary is currently taking required distributions based upon his or her life expectancy in accordance with IRC Section 72(s)(2).

In order to exchange the original contract, the original owner of the contract must have died before the Annuity Commencement Date. The death benefit proceeds of the original contract must be transferred directly to NYLIAC. Payments under this Policy will be calculated using the required minimum distribution method described in IRS Revenue Ruling 2002–62, as updated by IRS Notice 2022-6. The Annuitant must irrevocably elect and commence payments of his or her required distributions under the Policy no later than one year after the death of the owner of the original contract and the Annuitant must receive the entire required distribution by December 31st of the year in which payments under the Policy commence. If more than one year has elapsed since the original owner's death, you are eligible for a NYLIAC Inherited Non-Qualified Annuity only if you started to receive required distributions under IRC Section 72(s) from the original contract or from another Inherited Non-Qualified Annuity within one year of the original owner's death and you have taken the required distribution for the current and, if applicable, all prior years.

The Policy will be titled in the beneficiary's name as beneficiary of the deceased owner and cannot be transferred. The beneficiary must be the Annuitant, and the Annuitant cannot be changed. Additional Purchase Payments cannot be applied to the Policy. Additional special rules apply to an Inherited Non-Qualified Annuity.

***Qualified Policies***

Qualified Policies are designed for use with retirement plans that qualify for special federal income tax treatment under Sections 219, 403(b), 408, and 408A of the Code. The tax rules applicable to participants and beneficiaries in these plans vary according to the type of plan and the terms and conditions of the plan itself. Special favorable tax treatment may be available for certain types of contributions and distributions (including special rules for certain lump sum distributions to individuals who attained the age of 50 by January 1, 1986). Adverse tax consequences may result from contributions in excess of specified limits, distributions prior to age 59½ (subject to certain exceptions), distributions that do not conform to specified minimum distribution rules and in certain other circumstances. Therefore, this discussion only provides general information about the use of Qualified Policies with the plans described below. Policyowners and participants under these plans, as well as Annuitants and Beneficiaries are cautioned that the rights of any person to any benefits under the plans may be subject to the terms and conditions of the plans themselves, regardless of the terms and conditions of the policy issued in connection with the plan. Purchasers of Qualified Policies should seek legal and tax advice regarding the suitability of the policy.

*(a) 403(b) Plans.*

Under Section 403(b) of the Code, payments made by public school systems and certain tax exempt organizations to purchase annuity policies for their employees are excludible from the gross income of the employee, subject to certain limitations. However, such payments may be subject to FICA (Social Security) taxes.

*Important Information Regarding Final Code Section 403(b) Regulations* 

On July 26, 2007, the Department of the Treasury published final Code section 403(b) regulations that were largely effective on January 1, 2009. These comprehensive regulations include several new rules and requirements, such as a requirement that employers maintain their Code section 403(b) plans pursuant to a written plan. The final regulations, subsequent IRS guidance, and the terms of the written plan and/or the written information sharing agreement between the employer and NYLIAC may impose new restrictions on both new and existing Code section 403(b) TSA contracts, including restrictions on the availability of loans, distributions, transfers and exchanges, regardless of when a contract was purchased.

Prior to the effective date of the final regulations, IRS guidance applicable to tax-free transfers and exchanges of Code section 403(b) TSA contracts or custodial accounts became effective September 25, 2007, replacing existing rules under IRS Revenue Ruling 90-24 previously applicable to such transfers and exchanges (a "90-24 transfer"). Under this guidance, transfers and exchanges (both referred to below as "transfers") are available only to the extent permitted under the employer's written Code section 403(b) plan.

Transfers occurring after September 24, 2007 that do not comply with this guidance can result in the applicable contract becoming taxable on January 1, 2009, or the date of the transfer, whichever is later. If you make a transfer to a contract or custodial account that is not part of the employer's Code section 403(b) plan (other than a transfer to a

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different plan), and the contract provider and employer fail to enter into an information sharing agreement by January 1, 2009, the transfer would be considered a "failed" transfer, resulting in the applicable contract becoming subject to tax.

In general, certain contracts originally established by a 90-24 transfer prior to September 25, 2007, are exempt (or grandfathered) from some of the requirements of the final regulations; provided that no salary reduction or other contributions have ever been made to such contracts, and that no additional transfers are made to such contracts on or after September 25, 2007. Further, contracts that are not grandfathered are generally required to be part of, and subject to the requirements of, an employer's written Code section 403(b) plan no later than by January 1, 2009.

The new rules in the final regulations generally do not affect a participant's ability to transfer some or all of a Code section 403(b) TSA contract to a state-defined benefit plan to purchase service credits, where such a transfer is otherwise consistent with applicable rules and requirements and with the terms of the employer's plan.

You should discuss with your tax advisor the final Code section 403(b) regulations and other applicable IRS guidance in order to determine the impact they may have on any existing Code section 403(b) TSA contracts that you may own and/or on any Code section 403(b) TSA contract that you may consider purchasing.

*(b) Individual Retirement Annuities.*

Sections 219 and 408 of the Code permit individuals or their employers to contribute to an individual retirement program known as an "Individual Retirement Annuity" or "IRA," including an employer-sponsored Simplified Employee Pension or "SEP." Individual Retirement Annuities are subject to limitations on the amount which may be contributed and deducted and the time when distributions may commence. In addition, distributions from certain other types of qualified plans may be placed into IRAs on a tax-deferred basis.

*(c) Roth Individual Retirement Annuities.*

Section 408A of the Code permits individuals with incomes below a certain level to contribute to an individual retirement program known as a "Roth Individual Retirement Annuity" or "Roth IRA." Roth IRAs are subject to limitations on the amount that may be contributed. Contributions to Roth IRAs are not deductible, but distributions from Roth IRAs that meet certain requirements are not included in gross income. Individuals generally may convert their existing non-Roth IRAs into Roth IRAs. A direct rollover may also be made from an eligible retirement plan other than a non-Roth IRA (such as a qualified retirement plan, section 403(b) tax sheltered annuity, or eligible governmental section 457 plan) to a Roth IRA provided applicable requirements are met. Such conversions and rollovers will be subject to income tax at the time of conversion or rollover.

*(d) Inherited Roth IRAs.*

This policy may also be issued as an Inherited Roth IRA if, after the death of the owner of a Roth IRA who has satisfied his or her 5–year Holding Period requirement, the named Beneficiary (other than the Roth IRA owner's spouse) directs that the Roth IRA death proceeds be transferred to a new policy issued as an Inherited Roth IRA.

*(e) Inherited IRAs.*

This policy may also be issued as an inherited IRA if, after the death of the owner of an IRA, the named Beneficiary directs that the IRA death proceeds be transferred to a new policy issued as an Inherited IRA. Beginning in 2007, a non-spouse beneficiary of an eligible retirement plan (such as a qualified retirement plan, section 403(b) tax sheltered annuity, or eligible governmental section 457 plan) may, if all applicable requirements are met, directly rollover a distribution from such plan into an Inherited IRA. The named Beneficiary of the original IRA policy or eligible retirement plan (as the case may be) will become the Annuitant under the Inherited IRA and may generally exercise all rights under the Inherited IRA policy, including the right to name his or her own Beneficiary in the event of death.

Special tax rules apply to Inherited IRAs and Inherited Roth IRAs. The tax law does not permit additional premiums to be contributed to Inherited IRA and Inherited Roth IRA policies. Also, in order to avoid certain income tax penalties, a Required Minimum Distribution ("RMD") generally must be withdrawn each year from inherited IRA and Inherited Roth IRA policies. The first RMD generally must be taken on or before December 31 of the calendar year following the year of the original IRA or Roth IRA owner's or eligible retirement plan participants' death. As of January 1, 2023, the penalty tax equals 25% of the excess of the RMD amount over the amounts, if any, actually withdrawn from the

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Inherited IRA or Inherited Roth IRA during the calendar year. If a failure to take an RMD is corrected in a timely manner, as prescribed under the Code, the excise tax is reduced to 10%.

With respect to IRA and Roth IRA owners and defined contribution plan participants who die on or after January 1, 2020, any individual policyowner who is not an "Eligible Designated Beneficiary" must withdraw the entire account value by the end of the tenth year following the year of death (if the original IRA owner or plan participant died before required minimum distributions were required to begin, an individual policyowner who is not an Eligible Designated Beneficiary is not required to withdraw any amount until the end of the tenth year following the year of death, at which time the entire account value must be withdrawn). Eligible Designated Beneficiaries may withdraw the account value over their lives or a period not exceeding their life expectancies. Eligible Designated Beneficiaries include spouses, minor children (until they reach age 21), someone who is disabled or chronically ill (including certain trusts for the disabled or chronically ill), or an individual not more than 10 years younger than the original IRA owner or plan participant.

*(f) SIMPLE IRAs.*

SIMPLE IRAs permit certain small employers to establish SIMPLE IRA plans as provided by Section 408(p) of the Code, under which employees may elect to defer to a Simple IRA a percentage of compensation up to a certain amount (which is adjusted each year for cost-of-living increases in accordance with the Code). Employees who attain age 50 or over by the end of the relevant calendar year may also elect to make an additional catch-up contribution up to a certain amount (which is adjusted each year for cost-of-living increases in accordance with the Code). The sponsoring employer is generally required to make matching or non-elective contributions on behalf of employees. Distributions from SIMPLE IRAs are subject to the same restrictions that apply to IRA distributions and are taxed as ordinary income. Subject to certain exceptions, distributions prior to age 59½ are subject to a 10% penalty tax, which is increased to 25% if the distribution occurs within the first two years after the commencement of the employee's participation in the SIMPLE IRA plan. All references in this Prospectus to the 10% penalty tax should be read to include this limited 25% penalty tax if your Qualified Policy is used as a SIMPLE IRA.

The Qualified Policies (other than Roth IRAs during the owner's life) are subject to the RMD rules under Code section 401(a)(9) and the regulations issued thereunder. Under these rules, generally, distributions under your Qualified Policy must begin no later than the beginning date required by the Internal Revenue Service ("IRS"). The beginning date is determined by the type of Qualified Policy that you own. As of January 1, 2023, for each calendar year that an RMD is not timely made, a 25% excise tax is imposed on the amount that should have been distributed but was not. If a failure to take an RMD is corrected in a timely manner, as prescribed under the Code, the excise tax is reduced to 10%.

Unless the distributions are made in the form of an annuity that complies with Code section 401(a)(9) and the regulations issued thereunder, the minimum amount required to be distributed for each calendar year is generally determined by dividing the value of the Qualified Policy as of the end of the prior calendar year by the applicable distribution period (determined under IRS tables). Once Future Income Payments begin, we believe you will be treated as having two separate policies for purposes of satisfying these RMD rules. The Future Income Payments should automatically satisfy the RMD requirements with respect to the cumulative Future Income Purchases. A separate RMD will have to be calculated and withdrawn each year with respect to the Accumulation Value. The Future Income Payments generally cannot be applied towards satisfying the RMD requirements with respect to the Accumulation Value.

Beginning in 2006, regulations under Code section 401(a)(9) provide a new method for calculating the amount of RMDs from Qualified Policies. Under these regulations, during the accumulation phase of the Qualified Policy, the actuarial present value of certain additional benefits provided under the policy (such as guaranteed death benefits) must be taken into account in calculating the value of the Qualified Policy for purposes of determining the annual RMD for the Qualified Policy. As a result, under these regulations, it is possible that, after taking account of the value of such benefits, there may not be sufficient Accumulation Value to satisfy the applicable RMD requirement. This generally will depend on the investment performance of your policy. You may need to satisfy such RMD from other tax–qualified plans that you own. You should consult with your tax advisor regarding these requirements and the implications of purchasing any riders or other benefits in connection with your Qualified Policy.

Effective as of December 29, 2022, if distributions from your IRA are made in the form of an annuity, and the annuity payments in a year exceed the amount that would be required to be distributed for the year under the rules for

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non-annuitized accounts (determined by treating the IRA's account balance as including the value of the annuity), the excess can be counted towards satisfying the required minimum distribution with respect to any non-annuitized account balance in your IRA(s). You should consult your tax advisor if you want to use this special rule.

***Taxation of Death Benefits***

The tax treatment of amounts distributed from your contract upon the death of the policyowner or Annuitant depends on whether the policyowner or Annuitant dies before or after the Annuity Commencement Date. If death occurs prior to the Annuity Commencement Date, and the Beneficiary receives payments under an annuity payout option, the benefits are generally taxed in the manner described above for annuity payouts. If the benefits are received in a lump sum, they are taxed to the extent they exceed the remaining investment in the contract. If death occurs after the Annuity Commencement Date, amounts received by the Beneficiary are not taxed until they exceed the remaining investment in the contract.

**Distribution and Compensation Arrangements**

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NYLIFE Distributors LLC ("NYLIFE Distributors"), the underwriter and distributor of the policies, is registered with the SEC and the Financial Industry Regulatory Authority, Inc. (FINRA) as a broker-dealer. The firm is an indirect wholly-owned subsidiary of New York Life, 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, LLC ("NYLIFE Securities"), a broker-dealer that is an affiliate of NYLIFE Distributors. Your registered representative is also a licensed insurance agent with NYLIAC. 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 New York Life or its affiliates and products provided by other companies.

NYLIFE Securities and in turn your registered representative, 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 will vary depending on the policy, the age of the Owner and whether the source of funds is from an internal exchange. Differing compensation arrangements have the potential to influence the recommendation made by your registered representative or broker-dealer.

The maximum commission and expense allowance paid to NYLIFE Securities registered representatives is typically 5% of all premiums received.

The total commissions paid for New York Life Premier Variable Annuity II policies during the fiscal years ended December 31, 2025, 2024, and 2023 were $57,624,216, $51,669,232 and $43,116,637, respectively.

NYLIFE Distributors did not retain any of these commissions. The policies are sold and premium payments are accepted on a continuous basis.

New York Life also has other compensation programs where managers and employees involved in the sales process receive additional compensation related to the sale of products manufactured and issued by New York Life or its affiliates.

NYLIFE Securities registered representatives can qualify to attend New York Life-sponsored educational, training, and development conferences based on the sales they make of life insurance, annuities, and investment products during a particular twelve-month period. In addition, qualification for recognition programs sponsored by New York Life depends on the sale of products manufactured and issued by New York Life or its affiliates.

**Additional Information about Risks**

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***Information System Failures and Cybersecurity Risks***

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 online service at www.newyorklife.com or the mobile application, and other systems) and those of our service providers and business partners, our business is

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vulnerable to disruptions from utility outages and susceptible to operational and information security risks resulting from information system failures and cyber-attacks/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 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. Despite these controls and plans, systems failures and cyber-attacks/ransomware affecting New York Life and any of its 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 Accumulation Value. For instance, system failures and cyber-attacks/ransomware may (i) interfere with our processing of policy transactions (including surrenders, withdrawals, loans, and transfers) and the processing of orders from www.newyorklife.com or the mobile application, or with the underlying funds or cause other operations issues; (ii) impact our ability to calculate Accumulation Unit Values and your policy's Accumulation Values; (iii) cause the release, loss, and/or possible destruction of confidential customer and/or business information; (iv) subject us and/or our service providers, business partners, and intermediaries to regulatory fines, litigation, and financial losses, and/or cause us reputational damage. System 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/ransomware.

***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 Accumulation 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 surrenders, withdrawals, loans, and transfers) and the processing of orders from online service requests at www.newyorklife.com or 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's Accumulation 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 services 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.

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**Legal Proceedings**

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NYLIAC is a defendant in lawsuits arising from its agency sales force, insurance (including variable contracts registered under the federal securities laws) and/or other operations. Some of these actions seek substantial or unspecified compensatory and punitive damages. NYLIAC is 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 the Separate Accounts, the ability of NYLIFE Distributors to perform its contract with the Separate Accounts, NYLIAC's financial position, or the ability of NYLIAC to meet its obligations under the Contracts; 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.

**Voting Rights**

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The Portfolios are not required to and typically do not hold routine annual stockholder meetings. Special stockholder meetings will be called when necessary. Based on our current interpretation of applicable law, NYLIAC will vote the Portfolio shares held in the Investment Divisions at special shareholder meetings of the Portfolios in accordance with instructions we receive from persons having voting interests in the corresponding Investment Division. If, however, the federal securities laws are amended, or if NYLIAC's present interpretation should change, and as a result, NYLIAC determines that it is allowed to vote the Portfolio shares in its own right, we may elect 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 Portfolio. In addition, we may disregard voting instructions that would require changes in the investment policy or investment adviser of one or more of the Portfolios 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.

Prior to the Annuity Commencement Date, you hold a voting interest in each Investment Division to which you have money allocated. We will determine the number of votes which are available to you by dividing the Accumulation Value attributable to an Investment Division by the net asset value per share of the applicable Portfolios. We will calculate the number of votes which are available to you separately for each Investment Division. We will determine that number by applying your percentage interest, if any, in a particular Investment Division to the total number of votes attributable to the Investment Division.

We will determine the number of votes of the Portfolio which are available as of the date established by the Portfolio of the relevant Fund. Voting instructions will be solicited by written or electronic communication prior to such meeting in accordance with procedures established by the relevant Fund.

If we do not receive timely instructions, we will vote those shares in proportion to the voting instructions which are received with respect to all policies participating in that Investment Division. Any shares owned by NYLIAC and its affiliates will also be voted proportionately in accordance with those instructions. As a result, a small number of policyowners may control the outcome of the vote. Each person having a voting interest in an Investment Division will receive proxy material, reports and other materials relating to the appropriate Portfolio.

**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 each of the Investment Divisions of each Separate Account's statement 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

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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.

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**Appendix 1A**

***Investment Options Available Under the Policy***

The following is a list of Portfolios available under the policy, which is subject to change, as discussed in the prospectus. Depending on the optional benefits you choose, you may not be able to invest in certain Portfolios. You can find the prospectuses and other information about the Portfolios online at https://dfinview.com/NewYorkLife/TAHD/premier-ii. You can also request this information at no cost by calling the VPSC at 1-800-598-2019 or by sending an email request with your name and mailing address to PremierIIProspectus@newyorklife.com.

The current expenses and performance information below reflects fees and expenses of the Portfolios but does not reflect the other fees and expenses that your policy may charge. Expenses would be higher and performance would be lower if these charges were included. Each Portfolio's past performance is not necessarily an indication of future performance.

If you purchased an investment preservation rider, you may not be able to invest in certain Portfolios. If you purchased the IPR or IPR 2.0, your available Allocation Options are listed in APPENDIX 1B. If you purchased the IPR 3.0, your available Allocation Options are listed in APPENDIX 1C. If you purchased your IPR 4.0 or IPR 5.0 your available Allocation Options are listed in APPENDIX 1C and in APPENDIX 1D.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Large Cap Equity | NYLIM VP American Century Large Cap Equity <br> (formerly NYLI VP American Century <br> Sustainable Equity) — Service Class<br>*Adviser: New York Life Investment Management* <br> *LLC ("New York Life Investments") /*<br> *Subadviser: American Century Investment* <br> *Management, Inc.*<br>| 0.93% | 11.06% | 13.68% | 11.58% |
| Asset Allocation | NYLIM VP Balanced (formerly NYLI VP <br> Balanced) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadvisers: NYL Investors LLC ("NYL* <br> *Investors") and Wellington Management* <br> *Company LLP ("Wellington")*<br>| 0.97% | 11.16% | 7.14% | 7.04% |
| Investment<br> Grade Bond<br>| NYLIM VP Bond (formerly NYLI VP Bond) — <br> Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: NYL Investors*<br>| 0.80% | 6.57% | (0.88)% | 1.71% |
| International/Global<br> Equity<br>| NYLIM VP Candriam Emerging Markets Equity <br> (formerly NYLI VP Candriam Emerging Markets <br> Equity) — Service Class<sup>+</sup> <br>*Adviser: New York Life Investments /* <br> *Subadviser: Candriam*<br>| 1.45% | 35.54% | 2.52% | 7.39%  |

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Appendix 1A-1

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Sector | NYLIM VP CBRE Global Infrastructure (formerly <br> NYLI VP CBRE Global Infrastructure) — Service <br> Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: CBRE Investment Management* <br> *Listed Real Assets LLC*<br>| 1.20% | 15.31% | 6.79% | 2.39% |
| Asset Allocation | NYLIM VP Conservative Allocation (formerly <br> NYLI VP Conservative Allocation) — Service <br> Class<br>*Adviser: New York Life Investments*<br>| 0.80% | 9.29% | 3.67% | 5.14% |
| Large Cap Equity | NYLIM VP Dimensional U.S. Equity (formerly <br> NYLI VP Dimensional U.S. Equity) — Service <br> Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Dimensional Fund Advisors LP*<br>| 0.79% | 13.46% | 12.11% | 12.40% |
| Large Cap Equity | NYLIM VP Epoch U.S. Equity Yield (formerly <br> NYLI VP Epoch U.S. Equity Yield) — Service <br> Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Epoch Investment Partners, Inc.* <br> *("Epoch")*<br>| 0.93% | 13.96% | 11.74% | 9.69% |
| Asset Allocation | NYLIM VP Equity Allocation (formerly NYLI VP <br> Equity Allocation) — Service Class<br>*Adviser: New York Life Investments*<br>| 0.94% | 13.69% | 7.90% | 9.07% |
| Sector | NYLIM VP Fidelity Institutional AM<sup>®</sup> Utilities <br> (formerly NYLI VP Fidelity Institutional AM<sup>®</sup> <br> Utilities) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: FIAM LLC ("FIAM")*<br>| 0.93% | 13.50% | 12.06% | 10.69% |
| Non-Investment<br> Grade Bond<br>| NYLIM VP Floating Rate (formerly NYLI VP <br> Floating Rate) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: NYL Investors*<br>| 0.89% | 4.86% | 5.16% | 4.74% |
| Asset Allocation | NYLIM VP Growth Allocation (formerly NYLI VP <br> Growth Allocation) — Service Class<br>*Adviser: New York Life Investments*<br>| 0.89% | 12.24% | 7.06% | 8.05% |
| Alternatives | NYLIM VP Hedge Multi-Strategy (formerly NYLI <br> VP Hedge Multi-Strategy) — Service Class<br>*Adviser: New York Life Investments*<br>| 1.26% | 7.78% | 2.67% | 1.81%  |

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Appendix 1A-2

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Asset Allocation | NYLIM VP Income Builder (formerly NYLI VP <br> Income Builder) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadvisers: Epoch and MacKay Shields LLC* <br> *("MacKay")*<br>| 0.88% | 16.70% | 6.29% | 7.13% |
| Asset Allocation | NYLIM VP Janus Henderson Balanced (formerly <br> NYLI VP Janus Henderson Balanced) — <br> Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Janus Henderson Investors US LLC* <br> *("Janus Henderson")*<br>| 0.83% | 14.76% | 8.30% | 9.91% |
| Non-Investment<br> Grade Bond<br>| NYLIM VP MacKay Convertible (formerly NYLI <br> VP MacKay Convertible) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MacKay*<br>| 0.84% | 16.11% | 5.34% | 10.10% |
| Non-Investment<br> Grade Bond<br>| NYLIM VP MacKay High Yield Corporate Bond <br> (formerly NYLI VP MacKay High Yield Corporate <br> Bond) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MacKay*<br>| 0.84% | 6.60% | 4.18% | 5.87% |
| Non-Investment<br> Grade Bond<br>| NYLIM VP MacKay Strategic Bond (formerly <br> NYLI VP MacKay Strategic Bond) — Service <br> Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MacKay*<br>| 0.90% | 8.60% | 3.73% | 4.14% |
| Investment<br> Grade Bond<br>| NYLIM VP MacKay U.S. Infrastructure Bond <br> (formerly NYLI VP MacKay U.S. Infrastructure <br> Bond) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MacKay*<br>| 0.82% | 8.17% | (0.15)% | 1.13% |
| Large Cap Equity | NYLIM VP MFS<sup>®</sup> Investors Trust (formerly NYLI <br> VP MFS<sup>®</sup> Investors Trust) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Massachusetts Financial Services* <br> *Company ("MFS")*<br>| 1.00% | N/A | N/A | N/A |
| Large Cap Equity | NYLIM VP MFS<sup>®</sup> Research (formerly NYLI VP <br> MFS<sup>®</sup> Research) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MFS*<br>| 1.01% | N/A | N/A | N/A  |

---

Appendix 1A-3

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Asset Allocation | NYLIM VP Moderate Allocation (formerly NYLI <br> VP Moderate Allocation) — Service Class<br>*Adviser: New York Life Investments*<br>| 0.83% | 11.02% | 5.36% | 6.61% |
| Sector | NYLIM VP Natural Resources (formerly NYLI VP <br> Natural Resources) — Initial Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Newton Investment Management* <br> *North America, LLC ("NIMNA")*<br>| 0.85% | 15.20% | 17.27% | 10.88% |
| Sector | NYLIM VP Newton Technology Growth (formerly <br> NYLI VP Newton Technology Growth) — <br> Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: NIMNA*<br>| 1.03% | N/A | N/A | N/A |
| Investment<br> Grade Bond<br>| NYLIM VP PIMCO Real Return (formerly NYLI <br> VP PIMCO Real Return) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Pacific Investment Management* <br> *Company LLC ("PIMCO")*<br>| 1.34% | 7.89% | 1.11% | 3.03% |
| International/Global<br> Equity<br>| NYLIM VP PineStone International Equity <br> (formerly NYLI VP PineStone International <br> Equity) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: PineStone Asset Management Inc.*<br>| 1.11% | 12.01% | (0.05)% | 5.18% |
| Large Cap Equity | NYLIM VP S&P 500 Index (formerly NYLI VP <br> S&P 500 Index) — Service Class<br>*Adviser: New York Life Investments*<br>| 0.37% | 17.43% | 14.00% | 14.34% |
| Small/Mid Cap<br> Equity<br>| NYLIM VP Schroders Mid Cap Opportunities <br> (formerly NYLI VP Schroders Mid Cap <br> Opportunities) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Schroder Investment Management* <br> *North America Inc.*<br>| 1.08% | 7.00% | 4.79% | 7.12% |
| Small/Mid Cap<br> Equity<br>| NYLIM VP Small Cap Growth (formerly NYLI VP <br> Small Cap Growth) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadvisers: Brown Advisory, LLC and Segall* <br> *Bryant & Hamill, LLC*<br>| 1.11% | 4.63% | 1.38% | 8.68%  |

---

Appendix 1A-4

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Money Market | NYLIM VP U.S. Government Money Market <br> (formerly NYLI VP U.S. Government Money <br> Market) — Initial Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: NYL Investors*<br>| 0.28% | 4.05% | 3.02% | 1.89% |
| Large Cap Equity | NYLIM VP Wellington Growth (formerly NYLI VP <br> Wellington Growth) — Service Class<sup>+</sup> <br>*Adviser: New York Life Investments /* <br> *Subadviser: Wellington*<br>| 0.98% | 16.77% | 10.10% | 13.17% |
| Small/Mid Cap<br> Equity<br>| NYLIM VP Wellington Small Cap (formerly NYLI <br> VP Wellington Small Cap) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Wellington*<br>| 1.00% | 9.26% | 5.66% | 7.15% |
| Large Cap Equity | NYLIM VP Winslow Large Cap Growth (formerly <br> NYLI VP Winslow Large Cap Growth) — Service <br> Class<br>*Adviser: New York Life Investments*<br> */ Subadviser: Winslow Capital Management,* <br> *LLC*<br>| 1.00% | 14.07% | 12.41% | 15.85% |
| Large Cap Equity | AB VPS Relative Value Portfolio — Class B<br>*Adviser: AllianceBernstein L.P.*<br>| 0.84% | 10.20% | 11.15% | 10.30% |
| Asset Allocation | American Funds<sup>®</sup> IS Asset Allocation Fund — <br> Class 4<br>*Adviser: Capital Research and Management* <br> *Company*<sup>SM</sup> *("CRMC")*<br>| 0.79% | 15.59% | 8.70% | 9.50% |
| Investment Grade <br> Bond<br>| American Funds<sup>®</sup> IS The Bond Fund of <br> America<sup>®</sup> — Class 4<br>*Adviser: CRMC*<br>| 0.72% | 6.98% | (0.38)% | 2.11% |
| Investment<br> Grade Bond<br>| American Funds<sup>®</sup> IS Capital World Bond Fund<sup>®</sup> <br> — Class 4<br>*Adviser: CRMC*<br>| 0.98% | 9.03% | (2.76)% | 0.97% |
| Large Cap Equity | American Funds<sup>®</sup> IS Growth Fund — Class 4<br>*Adviser: CRMC*<br>| 0.83% | 19.93% | 13.09% | 17.67% |
| Large Cap Equity | American Funds<sup>®</sup> IS Growth-Income Fund — <br> Class 4<br>*Adviser: CRMC*<br>| 0.78% | 17.77% | 13.62% | 13.63%  |

---

Appendix 1A-5

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| International/Global<br> Equity<br>| American Funds<sup>®</sup> IS New World Fund<sup>®</sup> — Class <br> 4<br>*Adviser: CRMC*<br>| 1.07% | 27.92% | 5.06% | 8.98% |
| International/Global<br> Equity<br>| American Funds<sup>®</sup> IS SMALLCAP World Fund<sup>®</sup> <br> (formerly American Funds<sup>®</sup> IS Global Small <br> Capitalization Fund) — Class 4<br>*Adviser: CRMC*<br>| 1.15% | 14.33% | 0.23% | 6.96% |
| Investment<br> Grade Bond<br>| American Funds<sup>®</sup> IS U.S. Government Securities <br> Fund<sup>®</sup> — Class 4<br>*Adviser: CRMC*<br>| 0.75% | 7.54% | (0.49)% | 1.45% |
| Large Cap Equity | American Funds<sup>®</sup> IS Washington Mutual <br> Investors Fund — Class 4<br>*Adviser: CRMC*<br>| 0.75% | 16.90% | 13.60% | 12.08% |
| Asset Allocation | BlackRock<sup>®</sup> Global Allocation V.I. Fund — Class <br> III<br>*Adviser: BlackRock Advisors, LLC ("BlackRock")* <br> */ Subadvisers: BlackRock (Singapore) Limited* <br> *and BlackRock International Limited*<br>| 1.01% | 19.42% | 5.51% | 7.33% |
| Non-Investment<br> Grade Bond<br>| BlackRock<sup>®</sup> High Yield V.I. Fund — Class III<br>*Adviser: BlackRock / Subadviser: BlackRock* <br> *International Limited*<br>| 0.78% | 9.09% | 4.57% | 6.07% |
| Large Cap Equity | BNY Mellon Sustainable U.S. Equity Portfolio — <br> Service Shares<br>*Adviser: BNY Mellon Investment Adviser, Inc. /* <br> *Subadviser: Newton Investment Management* <br> *Limited*<br>| 0.91% | 15.67% | 11.65% | 13.27% |
| Sector | Columbia Variable Portfolio — Commodity <br> Strategy Fund — Class 2<sup>++</sup> <br>*Adviser: Columbia Management Investment* <br> *Advisers, LLC ("Columbia") / Subadviser:* <br> *Threadneedle International Limited*<br>| 1.00% | 15.30% | 12.44% | 6.46% |
| Non-Investment<br> Grade Bond<br>| Columbia Variable Portfolio — Emerging <br> Markets Bond Fund — Class 2<br>*Adviser: Columbia*<br>| 1.00% | 12.65% | 1.47% | 4.03% |
| Investment Grade <br> Bond<br>| Columbia Variable Portfolio — Intermediate <br> Bond Fund — Class 2<br>*Adviser: Columbia*<br>| 0.77% | 8.84% | (0.68)% | 2.52%  |

---

Appendix 1A-6

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Small/Mid Cap<br> Equity<br>| Columbia Variable Portfolio — Small Cap Value <br> Discovery Fund (formerly Columbia Variable <br> Portfolio — Small Cap Value Fund) — Class 2<br>*Adviser: Columbia*<br>| 1.13% | 14.66% | 12.19% | 11.20% |
| Small/Mid Cap <br> Equity<br>| Columbia Variable Portfolio — Small Company <br> Growth Fund — Class 2<br>*Adviser: Columbia*<br>| 1.12% | 21.69% | 3.32% | 14.89% |
| Alternatives | DWS Alternative Asset Allocation VIP — Class <br> B<br>*Adviser: DWS Investment Management* <br> *Americas Inc. / Subadviser: RREEF America* <br> *LLC*<br>| 1.31% | 10.03% | 4.88% | 4.52% |
| Investment<br> Grade Bond<br>| Fidelity<sup>®</sup> VIP Bond Index Portfolio — Service <br> Class 2<br>*Adviser: Fidelity Management & Research* <br> *Company LLC ("FMR") / Subadvisers: Other* <br> *investment advisers*<br>| 0.39% | 6.76% | (0.81)% | N/A |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Contrafund<sup>SM</sup> Portfolio — Service <br> Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.79% | 21.24% | 15.08% | 15.49% |
| International/Global<br> Equity<br>| Fidelity<sup>®</sup> VIP Emerging Markets Portfolio — <br> Service Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 1.12% | 40.79% | 5.62% | 10.66% |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> — <br> Service Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.71% | 18.75% | 12.13% | 11.32% |
| Small/Mid Cap<br> Equity<br>| Fidelity<sup>®</sup> VIP Extended Market Index Portfolio — <br> Service Class 2<br>*Adviser: FMR / Subadviser: Geode Capital* <br> *Management, LLC ("Geode")*<br>| 0.37% | 12.03% | 7.75% | N/A |
| Asset Allocation | Fidelity<sup>®</sup> VIP FundsManager<sup>®</sup> 60% Portfolio — <br> Service Class<br>*Adviser: FMR*<br>| 0.63% | 15.71% | 6.67% | 8.19%  |

---

Appendix 1A-7

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Growth Opportunities Portfolio — <br> Service Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.81% | 21.73% | 11.04% | 19.64% |
| Sector | Fidelity<sup>®</sup> VIP Health Care Portfolio — Service <br> Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.84% | 14.10% | 3.92% | N/A |
| International/Global <br> Equity<br>| Fidelity<sup>®</sup> VIP International Capital Appreciation <br> Portfolio — Service Class 2<br>*Adviser: FMR / Subadvisers: FIL Investment* <br> *Advisors*<br>| 1.02% | 18.36% | 5.99% | 9.53% |
| International/Global<br> Equity<br>| Fidelity<sup>®</sup> VIP International Index Portfolio — <br> Service Class 2<br>*Adviser: FMR / Subadviser: Geode*<br>| 0.41% | 32.82% | 7.76% | N/A |
| Investment Grade <br> Bond<br>| Fidelity<sup>®</sup> VIP Investment Grade Bond <br> Portfolio — Service Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.62% | 6.93% | (0.21)% | 2.45% |
| Small/Mid Cap<br> Equity<br>| Fidelity<sup>®</sup> VIP Mid Cap Portfolio — Service Class <br> 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.80% | 11.49% | 9.83% | 10.31% |
| Sector | Franklin Gold and Precious Metals VIP Fund — <br> Class 2<br>*Adviser: Franklin Advisers, Inc. ("Franklin* <br> *Advisers")*<br>| 0.95% | N/A | N/A | N/A |
| Asset Allocation | Franklin Templeton Aggressive Model <br> Portfolio — Class II<br>*Adviser: Franklin Templeton Fund Adviser, LLC* <br> *("FTFA") / Subadviser: Franklin Advisers*<br>| 0.88% | 17.04% | 10.14% | N/A |
| Asset Allocation | Franklin Templeton Moderately Aggressive <br> Model Portfolio — Class II<br>*Adviser: FTFA / Subadviser: Franklin Advisers*<br>| 0.82% | 15.01% | 7.87% | N/A |
| Asset Allocation | Franklin Templeton Moderate Model Portfolio — <br> Class II<br>*Adviser: FTFA / Subadviser: Franklin Advisers*<br>| 0.82% | 13.18% | 6.49% | N/A  |

---

Appendix 1A-8

------

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Asset Allocation | Franklin Templeton Moderately Conservative <br> Model Portfolio — Class II<br>*Adviser: FTFA / Subadviser: Franklin Advisers*<br>| 0.82% | 11.51% | 4.91% | N/A |
| Asset Allocation | Franklin Templeton Conservative Model <br> Portfolio — Class II<br>*Adviser: FTFA / Subadviser: Franklin Advisers*<br>| 0.85% | 9.04% | 2.65% | N/A |
| International/Global <br> Equity<br>| Goldman Sachs VIT International Equity Insights <br> Fund — Service Class<br>*Adviser: Goldman Sachs Asset Management,* <br> *L.P.*<br>| 1.05% | 5.80% | 5.19% | 4.61% |
| International/Global<br> Equity<br>| Invesco V.I. EQV International Equity Fund — <br> Series II Shares<br>*Adviser: Invesco Advisers, Inc. ("Invesco")*<br>| 1.15% | 16.23% | 3.42% | 5.95% |
| Small/Mid Cap<br> Equity<br>| Invesco V.I. Main Street Small Cap Fund<sup>®</sup> — <br> Series II Shares<br>*Adviser: Invesco*<br>| 1.09% | 8.44% | 8.07% | 10.31% |
| Small/Mid Cap<br> Equity<br>| Janus Henderson Enterprise Portfolio — Service <br> Shares<br>*Adviser: Janus Henderson*<br>| 0.97% | 7.41% | 7.35% | 12.51% |
| International/Global<br> Equity<br>| Janus Henderson Global Research Portfolio — <br> Service Shares<br>*Adviser: Janus Henderson*<br>| 1.07% | 20.60% | 12.23% | 12.64% |
| Investment Grade <br> Bond<br>| Lord Abbett Series Fund, Inc. — Short Duration <br> Income Portfolio — Class VC<br>*Adviser: Lord, Abbett & Co. LLC*<br>| 0.72% | 5.90% | 2.25% | 2.62% |
| Large Cap Equity | LVIP ClearBridge Appreciation Fund (formerly <br> ClearBridge Variable Appreciation Portfolio) — <br> Service Class<br>*Adviser: Lincoln Financial Investments* <br> *Corporation / Subadviser: ClearBridge* <br> *Investments, LLC*<br>| 0.95% | 14.19% | 12.44% | 13.05% |
| International Equity | MFS<sup>®</sup> International Intrinsic Equity Portfolio <br> (formerly MFS<sup>®</sup> International Intrinsic Value <br> Portfolio) — Service Class<br>*Adviser: MFS*<br>| 1.14% | 32.96% | 7.02% | 9.68%  |

---

Appendix 1A-9

------

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Mid Cap<br> Equity<br>| MFS<sup>®</sup> Mid Cap Value Portfolio — Service Class<br>*Adviser: MFS*<br>| 1.04% | 5.75% | 9.90% | 9.69% |
| International/Global<br> Equity<br>| MFS<sup>®</sup> Research International Portfolio — <br> Service Class<br>*Adviser: MFS*<br>| 1.15% | 21.75% | 5.25% | 7.27% |
| Small/Mid Cap<br> Equity<br>| Neuberger Berman AMT Mid Cap Growth <br> Portfolio — Class S<br>*Adviser: Neuberger Berman Investment* <br> *Advisers LLC*<br>| 1.11% | 5.23% | 4.27% | 10.71% |
| Small/Mid Cap <br> Equity<br>| Nomura VIP Small Cap Value Series (formerly <br> Macquarie VIP Small Cap Value Series) — <br> Service Class<br>*Adviser: Delaware Management Company, a* <br> *series of Nomura Investment Management* <br> *Business Trust*<br>| 1.04% | 7.83% | 8.93% | 8.84% |
| Investment<br> Grade Bond<br>| PIMCO VIT Income Portfolio — Advisor Class<br>*Adviser: PIMCO*<br>| 1.02% | 10.08% | 3.31% | N/A |
| Investment<br> Grade Bond<br>| PIMCO VIT International Bond Portfolio (U.S. <br> Dollar-Hedged) — Advisor Class<br>*Adviser: PIMCO*<br>| 1.19% | 3.85% | 0.93% | 2.78% |
| Investment<br> Grade Bond<br>| PIMCO VIT Low Duration Portfolio — Advisor <br> Class<br>*Adviser: PIMCO*<br>| 0.76% | 5.42% | 1.47% | 1.69% |
| Investment<br> Grade Bond<br>| PIMCO VIT Short-Term Portfolio — Advisor <br> Class<br>*Adviser: PIMCO*<br>| 0.75% | 4.57% | 3.14% | 2.65% |
| Investment<br> Grade Bond<br>| PIMCO VIT Total Return Portfolio — Advisor <br> Class<br>*Adviser: PIMCO*<br>| 0.83% | 8.78% | (0.08)% | 2.26% |
| Sector | Principal VC Real Estate Securities Account — <br> Class 2<br>*Adviser: Principal Global Investors, LLC /* <br> *Subadviser: Principal Real Estate Investors, LLC*<br>| 1.03% | 0.92% | 4.61% | 5.67%  |

---

Appendix 1A-10

------

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| International/Global<br> Equity<br>| Putnam VT International Value Fund — Class IB<br>*Adviser: Putnam Investment Management, LLC /* <br> *Subadvisers: Franklin Advisers, Inc., Franklin* <br> *Templeton Investment Management Limited and* <br> *The Putnam Advisory Company, LLC*<br>| 1.06% | 34.68% | 12.49% | 8.86% |
| Large Cap Equity | Voya Growth and Income Portfolio — Class S<br>*Adviser: Voya Investments, LLC ("Voya") /* <br> *Subadviser: Voya Investment Management Co.* <br> *LLC ("VIM")*<br>| 0.92% | 17.94% | 15.18% | 14.33% |
| Investment Grade <br> Bond<br>| Voya Intermediate Bond Portfolio — Class S<br>*Adviser: Voya / Subadviser: VIM*<br>| 0.80% | 7.46% | (0.09)% | 2.42% |
| Investment<br> Grade Bond<br>| Western Asset Core Plus VIT Portfolio — Class <br> II<sup>+++</sup> <br>*Adviser: FTFA / Subadvisers: Western Asset* <br> *Management Company, LLC; Western Asset* <br> *Management Company Limited; Western Asset* <br> *Management Company Ltd.; and Western Asset* <br> *Management Company Pte. Ltd.*<br>| 0.79% | 7.69% | (1.67)% | 1.85% |

---

\*

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 thereafter at the option of the Fund. Annual expenses for the Portfolio for the year ended December 31, 2025 reflect temporary fee reductions under such an arrangement.

+

Closed for policyowners who were not invested in the Investment Division on November 13, 2017, and closed for other policyowners if all your Accumulation Value is removed from the Investment Division on or after November 13, 2017.

++

Closed for policyowners who were not invested in the Investment Division on November 23, 2020, and closed for other policyowners if all your Accumulation Value is removed from the Investment Division on or after November 23, 2020.

+++

Closed for policyowners who were not invested in the Investment Division on May 1, 2026, and closed for other policyowners if all your Accumulation Value is removed from the Investment Division on or after May 1, 2026.

The following is a list of fixed options currently available under the policy. We may change the features of the fixed options listed below and offer new fixed options. We will provide you with written notice before doing so.

---

| | | |
|:---|:---|:---|
| **Name** | **Term** | **Guaranteed** <br> **Minimum Interest** <br> **Rate**<br>|
| **Fixed Account** | N/A | **0.05%** |
| **DCA Advantage** <br> **Account**<br>| 6 months | **0.05%** |

---

Appendix 1A-11

------

**Appendix 1B**

***Investment Divisions, Model Portfolios and Asset Allocation Models available with IPR and IPR 2.0***

***Option 1 – Choose Your Own Investment Divisions*** 

---

| | | |
|:---|:---|:---|
| ***<u>Asset Allocation Categories:</u>*** |  |  |
| ***<u>Category A:</u>*** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 30<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 100<br> %<br>|  |
| ***<u>Category A Funds</u>*** |  |  |
| NYLIM VP Bond |  | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| NYLIM VP Floating Rate |  | Fidelity<sup>®</sup> VIP Investment Grade Bond Portfolio |
| NYLIM VP MacKay High Yield Corporate Bond |  | Lord Abbett Series Fund, Inc. — Short Duration Income Port |
| NYLIM VP MacKay Strategic Bond |  | PIMCO VIT Income Portfolio |
| NYLIM VP MacKay U.S. Infrastructure Bond |  | PIMCO VIT International Bond Port (U.S. Dollar-Hedged) |
| NYLIM VP PIMCO Real Return |  | PIMCO VIT Low Duration Portfolio |
| NYLIM VP U.S. Government Money Market |  | PIMCO VIT Short-Term Portfolio |
| American Funds<sup>®</sup> IS The Bond Fund of America<sup>®</sup> |  | PIMCO VIT Total Return Portfolio |
| American Funds<sup>®</sup> IS Capital World Bond Fund<sup>®</sup> |  | Voya Intermediate Bond Portfolio |
| American Funds<sup>®</sup> IS U.S. Government Securities Fund<sup>®</sup> |  | Western Asset Core Plus VIT Portfolio |
| BlackRock<sup>®</sup> High Yield V.I. Fund |  |  |
| Columbia Variable Portfolio — Emerging Markets Bond |  |  |
| Columbia Variable Portfolio — Intermediate Bond Fund |  |  |
| ***<u>Category B:</u>*** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 0<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 70<br> %<br>|  |
| **<u>Category B Funds</u>** |  |  |
| NYLIM VP American Century Large Cap Equity |  | American Funds<sup>®</sup> IS Asset Allocation Fund |
| NYLIM VP Balanced |  | American Funds<sup>®</sup> IS Growth Fund |
| NYLIM VP Conservative Allocation |  | American Funds<sup>®</sup> IS Growth-Income Fund |
| NYLIM VP Dimensional U.S. Equity |  | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| NYLIM VP Epoch U.S. Equity Yield |  | BlackRock<sup>®</sup> Global Allocation V.I. Fund |
| NYLIM VP Equity Allocation |  | BNY Mellon Sustainable U.S. Equity Portfolio |
| NYLIM VP Fidelity Institutional AM<sup>®</sup> Utilities |  | DWS Alternative Asset Allocation VIP |
| NYLIM VP Growth Allocation |  | Fidelity<sup>®</sup> VIP Contrafund<sup>SM</sup> Portfolio |
| NYLIM VP Hedge Multi-Strategy |  | Fidelity<sup>®</sup> VIP FundsManager<sup>®</sup> 60% Portfolio |
| NYLIM VP Income Builder |  | Fidelity<sup>®</sup> VIP Growth Opportunities Portfolio |
| NYLIM VP Janus Henderson Balanced |  | Franklin Templeton Moderately Aggressive Model Portfolio |
| NYLIM VP MacKay Convertible |  | Franklin Templeton Moderate Model Portfolio |
| NYLIM VP MFS<sup>®</sup> Investors Trust |  | Franklin Templeton Moderately Conservative Model Portfolio |
| NYLIM VP MFS<sup>®</sup> Research |  | Franklin Templeton Conservative Model Portfolio |
| NYLIM VP Moderate Allocation |  | LVIP ClearBridge Appreciation Fund |
| NYLIM VP S&P 500 Index |  | Voya Growth and Income Portfolio |
| NYLIM VP Wellington Growth |  |  |
| NYLIM VP Winslow Large Cap Growth |  |  |
| AB VPS Relative Value Portfolio<br>|  |  |

---

Appendix 1B-1

------

---

| | | |
|:---|:---|:---|
| ***<u>Category C:</u>*** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 0<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 10<br> %<br>|  |
| **<u>Category C Funds</u>** |  |  |
| NYLIM VP Candriam Emerging Markets Equity<br> NYLIM VP CBRE Global Infrastructure<br> NYLIM VP Natural Resources<br> NYLIM VP Newton Technology Growth<br> NYLIM VP PineStone International Equity<br> NYLIM VP Schroders Mid Cap Opportunities<br> NYLIM VP Small Cap Growth<br> NYLIM VP Wellington Small Cap<br> American Funds<sup>®</sup> IS New World Fund<sup>®</sup><br> American Funds<sup>®</sup> IS SMALLCAP World Fund<sup>®</sup><br> Columbia Variable Portfolio — Commodity Strategy<br> Columbia Variable Portfolio — Small Cap Value Discovery<br> Columbia Variable Portfolio — Small Company Growth<br> Fidelity<sup>®</sup> VIP Emerging Markets Portfolio<br> Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>Fidelity<sup>®</sup> VIP Extended Market Index Portfolio<br> Fidelity<sup>®</sup> VIP Health Care Portfolio<br>|  | &nbsp;&nbsp; Fidelity<sup>®</sup> VIP International Capital Appreciation Portfolio<br> Fidelity<sup>®</sup> VIP International Index Portfolio<br> Fidelity<sup>®</sup> VIP Mid Cap Portfolio<br> Franklin Gold and Precious Metals VIP Fund<br> Goldman Sachs VIT International Equity Insights Fund<br> Invesco V.I. EQV International Equity Fund<br> Invesco V.I. Main Street Small Cap Fund<sup>®</sup><br> Janus Henderson Enterprise Portfolio<br> Janus Henderson Global Research Portfolio<br> MFS<sup>®</sup> International Intrinsic Equity Portfolio<br> MFS<sup>®</sup> Mid Cap Value Portfolio<br> MFS<sup>®</sup> Research International Portfolio<br> Neuberger Berman AMT Mid Cap Growth Portfolio<br> Nomura VIP Small Cap Value Series<br> Principal VC Real Estate Securities Account<br> Putnam VT International Value Fund<br>|

---

***Option 2 – Franklin Templeton Model Portfolios*** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Aggressive</u>** | **<u>Moderately Aggressive</u>** | **<u>Moderate</u>** | **<u>Moderate</u>** |
| 100% | Franklin Templeton Moderately Aggressive Model <br> Portfolio<br>| 100% | Franklin Templeton Moderate Model Portfolio |
| **<u>Moderately Conservative</u>** | **<u>Moderately Conservative</u>** | **<u>Conservative</u>** | **<u>Conservative</u>** |
| 100% | Franklin Templeton Moderately Conservative Model <br> Portfolio<br>| 100% | Franklin Templeton Conservative Model Portfolio |

---

***Option 3 - Asset Allocation Models (subject to availability)*** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Aggressive</u>** | **<u>Moderately Aggressive</u>** | **<u>Moderate</u>** | **<u>Moderate</u>** |
| 10% | NYLIM VP S&P 500 Index | 10% | NYLIM VP S&P 500 Index |
| 10% | DWS Alternative Asset Allocation VIP | 10% | DWS Alternative Asset Allocation VIP |
| 7% | PIMCO VIT Total Return Portfolio | 8% | NYLIM VP Bond |
| 7% | NYLIM VP MacKay High Yield Corporate Bond | 7% | PIMCO VIT Total Return Portfolio |
| 7% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund | 7% | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| 7% | NYLIM VP Schroders Mid Cap Opportunities | 7% | NYLIM VP MacKay High Yield Corporate Bond |
| 6% | NYLIM VP Bond | 6% | NYLIM VP MacKay U.S. Infrastructure Bond |
| 6% | NYLIM VP MFS<sup>®</sup> Investors Trust | 5% | NYLIM VP PIMCO Real Return |
| 5% | NYLIM VP PIMCO Real Return | 5% | Columbia Variable Portfolio — Emerging Markets Bond |
| 5% | Columbia Variable Portfolio — Emerging Markets Bond | 5% | NYLIM VP MFS<sup>®</sup> Investors Trust |
| 5% | NYLIM VP MFS<sup>®</sup> Research | 5% | NYLIM VP MFS<sup>®</sup> Research |
| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>|
| 5% | LVIP ClearBridge Appreciation Fund | 5% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| 5% | NYLIM VP PineStone International Equity | 5% | NYLIM VP Schroders Mid Cap Opportunities |
| 5% | American Funds<sup>®</sup> IS New World Fund<sup>®</sup> | 5% | American Funds<sup>®</sup> IS New World Fund<sup>®</sup> |
| 5% | MFS<sup>®</sup> International Intrinsic Equity Portfolio | 5% | MFS<sup>®</sup> International Intrinsic Equity Portfolio |

---

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

Appendix 1B-2

------

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Conservative</u>** | **<u>Moderately Conservative</u>** | **<u>Conservative</u>** | **<u>Conservative</u>** |
| 10% | NYLIM VP Bond | 14% | PIMCO VIT International Bond Port (U.S. Dollar-Hedged) |
| 10% | PIMCO VIT Total Return Portfolio | 12% | NYLIM VP Bond |
| 10% | DWS Alternative Asset Allocation VIP | 11% | PIMCO VIT Total Return Portfolio |
| 9% | Fidelity<sup>®</sup> VIP Bond Index Portfolio | 10% | NYLIM VP MacKay U.S. Infrastructure Bond |
| 8% | NYLIM VP MacKay U.S. Infrastructure Bond | 10% | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| 7% | NYLIM VP MacKay High Yield Corporate Bond | 10% | DWS Alternative Asset Allocation VIP |
| 6% | NYLIM VP PIMCO Real Return | 7% | NYLIM VP PIMCO Real Return |
| 5% | PIMCO VIT International Bond Port (U.S. Dollar-Hedged) | 7% | NYLIM VP MacKay High Yield Corporate Bond |
| 5% | Columbia Variable Portfolio — Emerging Markets Bond | 5% | Columbia Variable Portfolio — Emerging Markets Bond |
| 5% | NYLIM VP S&P 500 Index | 4% | BlackRock<sup>®</sup> High Yield V.I. Fund |
| 5% | NYLIM VP MFS<sup>®</sup> Investors Trust | 4% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| 5% | NYLIM VP MFS<sup>®</sup> Research | 3% | NYLIM VP MFS<sup>®</sup> Research |
| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> | 3% | NYLIM VP Schroders Mid Cap Opportunities |
| 5% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |  |  |
| 5% | NYLIM VP Schroders Mid Cap Opportunities |  |  |

---

Appendix 1B-3

------

**Appendix 1C**

***Model Portfolios, Investment Divisions and Asset Allocation Models available with IPR 3.0; IPR 4.0 (12–15 and 20–year Holding Period options)*** and IPR 5.0 ***(10-year Holding Period option for policies with an application signed on or after May 1, 2025; 12–15 and 20–year Holding Period options)***

***Option 1 – Franklin Templeton Model Portfolios*** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Aggressive</u>** | **<u>Moderately Aggressive</u>** | **<u>Moderate</u>** | **<u>Moderate</u>** |
| 100% | Franklin Templeton Moderately Aggressive Model<br> Portfolio<br>| 100% | Franklin Templeton Moderate Model Portfolio |
| **<u>Moderately Conservative</u>** | **<u>Moderately Conservative</u>** | **<u>Conservative</u>** *(For IPR 4.0 and IPR 5.0, only available* <br> *with 20-year holding period)* | **<u>Conservative</u>** *(For IPR 4.0 and IPR 5.0, only available* <br> *with 20-year holding period)* |
| 100% | Franklin Templeton Moderately Conservative Model<br> Portfolio<br>| 100% | Franklin Templeton Conservative Model Portfolio |

---

***Option 2 – Choose Your Own Investment Divisions*** 

---

| | | |
|:---|:---|:---|
| **<u>Category A:</u>** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 30<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 100<br> %<br>|  |
| **<u>Subcategory I Funds (Minimum Allocation 10% - total among all the subcategory I Funds)</u>** | **<u>Subcategory I Funds (Minimum Allocation 10% - total among all the subcategory I Funds)</u>** | **<u>Subcategory I Funds (Minimum Allocation 10% - total among all the subcategory I Funds)</u>** |
| NYLIM VP Bond<br> NYLIM VP MacKay U.S. Infrastructure Bond<br> NYLIM VP PIMCO Real Return<br> NYLIM VP U.S. Government Money Market<br> American Funds<sup>®</sup> IS The Bond Fund of America<sup>®</sup><br> American Funds<sup>®</sup> IS Capital World Bond Fund<sup>®</sup><br> American Funds<sup>®</sup> IS U.S. Government Securities Fund<sup>®</sup><br> Columbia Variable Portfolio — Intermediate Bond Fund<br> Fidelity<sup>®</sup> VIP Bond Index Portfolio<br> Fidelity<sup>®</sup> VIP Investment Grade Bond Portfolio<br>|  | &nbsp;&nbsp; Lord Abbett Series Fund, Inc. — Short Duration Income Port<br> PIMCO VIT Income Portfolio<br> PIMCO VIT International Bond Port (U.S. Dollar-Hedged)<br> PIMCO VIT Low Duration Portfolio<br> PIMCO VIT Short-Term Portfolio<br> PIMCO VIT Total Return Portfolio<br> Voya Intermediate Bond Portfolio<br> Western Asset Core Plus VIT Portfolio<br>|
| **<u>Subcategory II Funds</u>** |  |  |
| NYLIM VP Floating Rate<br> NYLIM VP MacKay High Yield Corporate Bond<br> NYLIM VP MacKay Strategic Bond<br>|  | &nbsp;&nbsp; BlackRock<sup>®</sup> High Yield V.I. Fund<br> Columbia Variable Portfolio — Emerging Markets Bond<br>|
| ***<u>Category B:</u>*** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 0<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 70<br> %<br>|  |
| **<u>Category B Funds</u>** |  |  |
| NYLIM VP American Century Large Cap Equity<br> NYLIM VP Dimensional U.S. Equity<br> NYLIM VP Epoch U.S. Equity Yield<br> NYLIM VP Hedge Multi-Strategy<br> NYLIM VP MacKay Convertible<br> NYLIM VP MFS<sup>®</sup> Investors Trust<br> NYLIM VP MFS<sup>®</sup> Research<br> NYLIM VP S&P 500 Index<br> NYLIM VP Winslow Large Cap Growth<br> AB VPS Relative Value Portfolio<br>|  | &nbsp;&nbsp; American Funds<sup>®</sup> IS Growth Fund<br> American Funds<sup>®</sup> IS Growth-Income Fund<br> American Funds<sup>®</sup> IS Washington Mutual Investors Fund<br> BNY Mellon Sustainable U.S. Equity Portfolio<br> DWS Alternative Asset Allocation VIP<br> Fidelity<sup>®</sup> VIP Contrafund<sup>SM</sup> Portfolio<br> Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>Fidelity<sup>®</sup> VIP Growth Opportunities Portfolio<br> LVIP ClearBridge Appreciation Fund<br> Voya Growth and Income Portfolio <br>|

---

Appendix 1C-1

------

---

| | | |
|:---|:---|:---|
| ***<u>Category C:</u>*** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 0<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 25<br> %<br>|  |
| **<u>Subcategory I Funds (Maximum Allocation 15% - total among all the subcategory I Funds)</u>** | **<u>Subcategory I Funds (Maximum Allocation 15% - total among all the subcategory I Funds)</u>** | **<u>Subcategory I Funds (Maximum Allocation 15% - total among all the subcategory I Funds)</u>** |
| NYLIM VP Schroders Mid Cap Opportunities<br> NYLIM VP Small Cap Growth<br> NYLIM VP Wellington Small Cap<br> Columbia Variable Portfolio — Small Cap Value Discovery<br> Columbia Variable Portfolio — Small Company Growth<br> Fidelity<sup>®</sup> VIP Extended Market Index Portfolio<br>|  | &nbsp;&nbsp; Fidelity<sup>®</sup> VIP Mid Cap Portfolio<br> Invesco V.I. Main Street Small Cap Fund<sup>®</sup><br> Janus Henderson Enterprise Portfolio<br> MFS<sup>®</sup> Mid Cap Value Portfolio<br> Neuberger Berman AMT Mid Cap Growth Portfolio<br> Nomura VIP Small Cap Value Series<br>|
| **<u>Subcategory II Funds (Maximum Allocation 15% - total among all the subcategory II Funds)</u>** | **<u>Subcategory II Funds (Maximum Allocation 15% - total among all the subcategory II Funds)</u>** | **<u>Subcategory II Funds (Maximum Allocation 15% - total among all the subcategory II Funds)</u>** |
| NYLIM VP PineStone International Equity<br> American Funds<sup>®</sup> IS New World Fund<sup>®</sup><br> American Funds<sup>®</sup> IS SMALLCAP World Fund<sup>®</sup><br> Fidelity<sup>®</sup> VIP Emerging Markets Portfolio<br> Fidelity<sup>®</sup> VIP International Capital Appreciation Portfolio<br> Fidelity<sup>®</sup> VIP International Index Portfolio<br>|  | &nbsp;&nbsp; Goldman Sachs VIT International Equity Insights Fund<br> Invesco V.I. EQV International Equity Fund<br> Janus Henderson Global Research Portfolio<br> MFS<sup>®</sup> International Intrinsic Equity Portfolio<br> MFS<sup>®</sup> Research International Portfolio<br> Putnam VT International Value Fund<br>|
| **<u>Subcategory III Funds (Maximum Allocation 10% - total among all the subcategory III Funds)</u>** | **<u>Subcategory III Funds (Maximum Allocation 10% - total among all the subcategory III Funds)</u>** | **<u>Subcategory III Funds (Maximum Allocation 10% - total among all the subcategory III Funds)</u>** |
| NYLIM VP CBRE Global Infrastructure<br> NYLIM VP Fidelity Institutional AM<sup>®</sup> Utilities<br> NYLIM VP Natural Resources<br> NYLIM VP Newton Technology Growth<br>|  | &nbsp;&nbsp; Columbia Variable Portfolio — Commodity Strategy<br> Fidelity<sup>®</sup> VIP Health Care Portfolio<br> Franklin Gold and Precious Metals VIP Fund<br> Principal VC Real Estate Securities Account<br>|

---

***Option 3 – Asset Allocation Funds:*** 

---

| | |
|:---|:---|
| **<u>Category D:</u>** |  |
| Minimum Allocation | &nbsp;&nbsp; 100<br> %<br>|
| **<u>Category D Asset Allocation Funds</u>** |  |
| NYLIM VP Balanced<br> NYLIM VP Conservative Allocation<br> NYLIM VP Income Builder<br> NYLIM VP Janus Henderson Balanced<br> NYLIM VP Moderate Allocation<br> American Funds<sup>®</sup> IS Asset Allocation Fund<br> BlackRock<sup>®</sup> Global Allocation V.I. Fund<br> Fidelity<sup>®</sup> VIP FundsManager<sup>®</sup> 60% Portfolio<br> Franklin Templeton Moderately Aggressive Model Portfolio<br> Franklin Templeton Moderate Model Portfolio<br> Franklin Templeton Moderately Conservative Model Portfolio<br> Franklin Templeton Conservative Model Portfolio<br>|  |

---

***Option 4 – Asset Allocation Models (subject to availability; not available with IPR 5.0)*** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Aggressive</u>** | **<u>Moderately Aggressive</u>** | **<u>Moderate</u>** | **<u>Moderate</u>** |
| 10% | NYLIM VP S&P 500 Index | 10% | NYLIM VP S&P 500 Index |
| 10% | DWS Alternative Asset Allocation VIP | 10% | DWS Alternative Asset Allocation VIP |
| 7% | PIMCO VIT Total Return Portfolio | 8% | NYLIM VP Bond |
| 7% | NYLIM VP MacKay High Yield Corporate Bond | 7% | PIMCO VIT Total Return Portfolio |
| 7% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund | 7% | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| 7% | NYLIM VP Schroders Mid Cap Opportunities | 7% | NYLIM VP MacKay High Yield Corporate Bond  |

---

Appendix 1C-2

------

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Aggressive</u>** | **<u>Moderately Aggressive</u>** | **<u>Moderate</u>** | **<u>Moderate</u>** |
| 6% | NYLIM VP Bond | 6% | NYLIM VP MacKay U.S. Infrastructure Bond |
| 6% | NYLIM VP MFS<sup>®</sup> Investors Trust | 5% | NYLIM VP PIMCO Real Return |
| 5% | NYLIM VP PIMCO Real Return | 5% | Columbia Variable Portfolio — Emerging Markets Bond |
| 5% | Columbia Variable Portfolio — Emerging Markets Bond | 5% | NYLIM VP MFS<sup>®</sup> Investors Trust |
| 5% | NYLIM VP MFS<sup>®</sup> Research | 5% | NYLIM VP MFS<sup>®</sup> Research |
| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>|
| 5% | LVIP ClearBridge Appreciation Fund | 5% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| 5% | NYLIM VP PineStone International Equity | 5% | NYLIM VP Schroders Mid Cap Opportunities |
| 5% | American Funds<sup>®</sup> IS New World Fund<sup>®</sup> | 5% | American Funds<sup>®</sup> IS New World Fund<sup>®</sup> |
| 5% | MFS<sup>®</sup> International Intrinsic Equity Portfolio | 5% | MFS<sup>®</sup> International Intrinsic Equity Portfolio |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Conservative</u>** | **<u>Moderately Conservative</u>** | **<u>Conservative</u>** | **<u>Conservative</u>** |
| 10% | NYLIM VP Bond | 14% | PIMCO VIT International Bond Port (U.S. Dollar-Hedged) |
| 10% | PIMCO VIT Total Return Portfolio | 12% | NYLIM VP Bond |
| 10% | DWS Alternative Asset Allocation VIP | 11% | PIMCO VIT Total Return Portfolio |
| 9% | Fidelity<sup>®</sup> VIP Bond Index Portfolio | 10% | NYLIM VP MacKay U.S. Infrastructure Bond |
| 8% | NYLIM VP MacKay U.S. Infrastructure Bond | 10% | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| 7% | NYLIM VP MacKay High Yield Corporate Bond | 10% | DWS Alternative Asset Allocation VIP |
| 6% | NYLIM VP PIMCO Real Return | 7% | NYLIM VP PIMCO Real Return |
| 5% | PIMCO VIT International Bond Port (U.S. Dollar-Hedged) | 7% | NYLIM VP MacKay High Yield Corporate Bond |
| 5% | Columbia Variable Portfolio — Emerging Markets Bond | 5% | Columbia Variable Portfolio — Emerging Markets Bond |
| 5% | NYLIM VP S&P 500 Index | 4% | BlackRock<sup>®</sup> High Yield V.I. Fund |
| 5% | NYLIM VP MFS<sup>®</sup> Investors Trust | 4% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| 5% | NYLIM VP MFS<sup>®</sup> Research | 3% | NYLIM VP MFS<sup>®</sup> Research |
| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> | 3% | NYLIM VP Schroders Mid Cap Opportunities |
| 5% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |  |  |
| 5% | NYLIM VP Schroders Mid Cap Opportunities |  |  |

---

Appendix 1C-3

------

**Appendix 1D**

***Model Portfolios, Investment Divisions and Asset Allocation Models available with IPR 4.0 (10-year Holding Period option) and IPR 5.0 (7-year Holding Period option; 10–year Holding Period option for policies with an application signed on or before April 30, 2025)***

***Option 1 – Franklin Templeton Model Portfolios*** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderate</u>** | **<u>Moderate</u>** | **<u>Moderately Conservative</u>** | **<u>Moderately Conservative</u>** |
| 100% | Franklin Templeton Moderate Model Portfolio | 100% | Franklin Templeton Moderately Conservative Model <br> Portfolio<br>|

---

***Option 2 – Choose Your Own Investment Divisions*** 

---

| | | |
|:---|:---|:---|
| **<u>Category A:</u>** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 40<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 100<br> %<br>|  |
| **<u>Subcategory I Funds (Maximum Allocation 10% - total among all the subcategory I Funds)</u>** | **<u>Subcategory I Funds (Maximum Allocation 10% - total among all the subcategory I Funds)</u>** | **<u>Subcategory I Funds (Maximum Allocation 10% - total among all the subcategory I Funds)</u>** |
| NYLIM VP Bond<br> NYLIM VP MacKay U.S. Infrastructure Bond<br> NYLIM VP PIMCO Real Return<br> NYLIM VP U.S. Government Money Market<br> American Funds<sup>®</sup> IS The Bond Fund of America<sup>®</sup><br> American Funds<sup>®</sup> IS Capital World Bond Fund<sup>®</sup><br> American Funds<sup>®</sup> IS U.S. Government Securities Fund<sup>®</sup><br> Columbia Variable Portfolio — Intermediate Bond Fund<br> Fidelity<sup>®</sup> VIP Bond Index Portfolio<br> Fidelity<sup>®</sup> VIP Investment Grade Bond Portfolio<br>|  | &nbsp;&nbsp; Lord Abbett Series Fund, Inc. — Short Duration Income Port<br> PIMCO VIT Income Portfolio<br> PIMCO VIT International Bond Port (U.S. Dollar-Hedged)<br> PIMCO VIT Low Duration Portfolio<br> PIMCO VIT Short-Term Portfolio<br> PIMCO VIT Total Return Portfolio<br> Voya Intermediate Bond Portfolio<br> Western Asset Core Plus VIT Portfolio<br>|
| **<u>Subcategory II Funds</u>** |  |  |
| NYLIM VP Floating Rate<br> NYLIM VP MacKay High Yield Corporate Bond<br> NYLIM VP MacKay Strategic Bond<br>|  | &nbsp;&nbsp; BlackRock<sup>®</sup> High Yield V.I. Fund<br> Columbia Variable Portfolio — Emerging Markets Bond<br>|
| **<u>Category</u>*<u>B:</u>*** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 0<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 60<br> %<br>|  |
| **<u>Category B Funds</u>** |  |  |
| NYLIM VP American Century Large Cap Equity<br> NYLIM VP Epoch U.S. Equity Yield<br> NYLIM VP Dimensional U.S. Equity<br> NYLIM VP Hedge Multi-Strategy<br> NYLIM VP MacKay Convertible<br> NYLIM VP MFS<sup>®</sup> Investors Trust<br> NYLIM VP MFS<sup>®</sup> Research<br> NYLIM VP S&P 500 Index<br> NYLIM VP Winslow Large Cap Growth<br> AB VPS Relative Value Portfolio<br>|  | &nbsp;&nbsp; American Funds<sup>®</sup> IS Growth Fund<br> American Funds<sup>®</sup> IS Growth-Income Fund<br> American Funds<sup>®</sup> IS Washington Mutual Investors Fund<br> BNY Mellon Sustainable U.S. Equity Portfolio<br> DWS Alternative Asset Allocation VIP<br> Fidelity<sup>®</sup> VIP Contrafund<sup>SM</sup> Portfolio<br> Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>Fidelity<sup>®</sup> VIP Growth Opportunities Portfolio<br> LVIP ClearBridge Appreciation Fund<br> Voya Growth and Income Portfolio<br>|
| **<u>Category</u>*<u>C:</u>*** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 0<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 25<br> %<br>|  |

---

Appendix 1D-1

------

---

| | |
|:---|:---|
| **<u>Subcategory I Funds (Maximum Allocation 15% - total among all the subcategory I Funds)</u>** | **<u>Subcategory I Funds (Maximum Allocation 15% - total among all the subcategory I Funds)</u>** |
| NYLIM VP Schroders Mid Cap Opportunities<br> NYLIM VP Small Cap Growth<br> NYLIM VP Wellington Small Cap<br> Columbia Variable Portfolio — Small Cap Value Discovery<br> Columbia Variable Portfolio — Small Company Growth<br> Fidelity<sup>®</sup> VIP Extended Market Index Portfolio<br> Fidelity<sup>®</sup> VIP Mid Cap Portfolio<br>| &nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup><br> Janus Henderson Enterprise Portfolio<br> MFS<sup>®</sup> Mid Cap Value Portfolio<br> Neuberger Berman AMT Mid Cap Growth Portfolio<br> Nomura VIP Small Cap Value Series<br>|
| **<u>Subcategory II Funds (Maximum Allocation 15% - total among all the subcategory II Funds)</u>** | **<u>Subcategory II Funds (Maximum Allocation 15% - total among all the subcategory II Funds)</u>** |
| NYLIM VP PineStone International Equity<br> American Funds<sup>®</sup> IS New World Fund<sup>®</sup><br> American Funds<sup>®</sup> IS SMALLCAP World Fund<sup>®</sup><br> Fidelity<sup>®</sup> VIP Emerging Markets Portfolio<br> Fidelity<sup>®</sup> VIP International Capital Appreciation Portfolio<br> Fidelity<sup>®</sup> VIP International Index Portfolio<br>| &nbsp;&nbsp; Goldman Sachs VIT International Equity Insights Fund<br> Invesco V.I. EQV International Equity Fund<br> Janus Henderson Global Research Portfolio<br> MFS<sup>®</sup> International Intrinsic Equity Portfolio<br> MFS<sup>®</sup> Research International Portfolio<br> Putnam VT International Value Fund<br>|
| **<u>Subcategory III Funds (Maximum Allocation 10% - total among all the subcategory III Funds)</u>** | **<u>Subcategory III Funds (Maximum Allocation 10% - total among all the subcategory III Funds)</u>** |
| NYLIM VP CBRE Global Infrastructure<br> NYLIM VP Fidelity Institutional AM<sup>®</sup> Utilities<br> NYLIM VP Natural Resources<br> NYLIM VP Newton Technology Growth<br>| &nbsp;&nbsp; Columbia Variable Portfolio — Commodity Strategy<br> Fidelity<sup>®</sup> VIP Health Care Portfolio<br> Franklin Gold and Precious Metals VIP Fund<br> Principal VC Real Estate Securities Account<br>|

---

***Option 3 – Asset Allocation Funds:*** 

---

| | |
|:---|:---|
| **<u>Category D:</u>** |  |
| Minimum Allocation | &nbsp;&nbsp; 100<br> %<br>|
| **<u>Category D Asset Allocation Funds</u>** |  |
| NYLIM VP Balanced<br> NYLIM VP Conservative Allocation<br> NYLIM VP Income Builder<br> NYLIM VP Janus Henderson Balanced<br> NYLIM VP Moderate Allocation<br> BlackRock<sup>®</sup> Global Allocation V.I. Fund<br> Fidelity<sup>®</sup> VIP FundsManager<sup>®</sup> 60% Portfolio<br> Franklin Templeton Moderate Model Portfolio<br> Franklin Templeton Moderately Conservative Model Portfolio<br> Franklin Templeton Conservative Model Portfolio<br>|  |

---

***Option 4 – Asset Allocation Models (subject to availability; not available with IPR 5.0)*** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderate</u>** | **<u>Moderate</u>** | **<u>Moderately Conservative</u>** | **<u>Moderately Conservative</u>** |
| 10% | NYLIM VP S&P 500 Index | 10% | NYLIM VP Bond |
| 10% | DWS Alternative Asset Allocation VIP | 10% | PIMCO VIT Total Return Portfolio |
| 8% | NYLIM VP Bond | 10% | DWS Alternative Asset Allocation VIP |
| 7% | PIMCO VIT Total Return Portfolio | 9% | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| 7% | Fidelity<sup>®</sup> VIP Bond Index Portfolio | 8% | NYLIM VP MacKay U.S. Infrastructure Bond |
| 7% | NYLIM VP MacKay High Yield Corporate Bond | 7% | NYLIM VP MacKay High Yield Corporate Bond |
| 6% | NYLIM VP MacKay U.S. Infrastructure Bond | 6% | NYLIM VP PIMCO Real Return |
| 5% | NYLIM VP PIMCO Real Return | 5% | PIMCO VIT International Bond Port (U.S. Dollar-Hedged)  |

---

Appendix 1D-2

------

---

| | | | |
|:---|:---|:---|:---|
| 5% | Columbia Variable Portfolio — Emerging Markets Bond | 5% | Columbia Variable Portfolio — Emerging Markets Bond |
| 5% | NYLIM VP MFS<sup>®</sup> Investors Trust | 5% | NYLIM VP S&P 500 Index |
| 5% | NYLIM VP MFS<sup>®</sup> Research | 5% | NYLIM VP MFS<sup>®</sup> Investors Trust |
| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> | 5% | NYLIM VP MFS<sup>®</sup> Research |
| 5% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund | 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> |
| 5% | NYLIM VP Schroders Mid Cap Opportunities | 5% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| 5% | American Funds<sup>®</sup> IS New World Fund<sup>®</sup> | 5% | NYLIM VP Schroders Mid Cap Opportunities |
| 5% | MFS<sup>®</sup> International Intrinsic Equity Portfolio |  |  |
| **<u>Conservative</u>** | **<u>Conservative</u>** |  |  |
| 14% | PIMCO VIT International Bond Port (U.S. Dollar-Hedged) |  |  |
| 12% | NYLIM VP Bond |  |  |
| 11% | PIMCO VIT Total Return Portfolio |  |  |
| 10% | NYLIM VP MacKay U.S. Infrastructure Bond |  |  |
| 10% | Fidelity<sup>®</sup> VIP Bond Index Portfolio |  |  |
| 10% | DWS Alternative Asset Allocation VIP |  |  |
| 7% | NYLIM VP PIMCO Real Return |  |  |
| 7% | NYLIM VP MacKay High Yield Corporate Bond |  |  |
| 5% | Columbia Variable Portfolio — Emerging Markets Bond |  |  |
| 4% | BlackRock<sup>®</sup> High Yield V.I. Fund |  |  |
| 4% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |  |  |
| 3% | NYLIM VP MFS<sup>®</sup> Research |  |  |
| 3% | NYLIM VP Schroders Mid Cap Opportunities |  |  |

---

Appendix 1D-3

------

**Appendix 2** 

***FIR AVAILABILITY BY PLAN TYPE***

**(not available for applications signed on or after May 1, 2017)** 

Other types of plans may also be made available. Contact your registered representative for more information.

---

| | | |
|:---|:---|:---|
| **Non Qualified** | Base Policy Issue Ages \* | 0–80 |
| **Non Qualified** | FIR Availability \*\* | 0–80 |
| **Non Qualified** | Earliest FIR Income Start Date | Age 20 |
| **Non Qualified** | Latest FIR Income Start Date | Age ˂ 86 |
| **Non Qualified** | Latest FIR Purchase | Age ˂ 84 |
| **Traditional IRA** | Base Policy Issue Ages\* | 18–80 |
| **Traditional IRA** | FIR Availability \*\* | &nbsp;&nbsp; 18–two years prior to the Future <br> Income Start Date<br>|
| **Traditional IRA** | Earliest FIR Income Start Date | Age 18 |
| **Traditional IRA** | Latest FIR Income Start Date | April 1 after year you attain age 73 |
| **Traditional IRA** | Latest FIR Purchase | &nbsp;&nbsp; Two years prior to the Future Income <br> Start Date<br>|
| **Roth IRA** | Base Policy Issue Ages\* | 18–80 |
| **Roth IRA** | FIR Availability \*\* | 20–80 |
| **Roth IRA** | Earliest FIR Income Start Date | Age 59½ |
| **Roth IRA** | Latest FIR Income Start Date | Age ˂ 86 |
| **Roth IRA** | Latest FIR Purchase | Age ˂ 84 |
| **Inherited IRA** | Base Policy Issue Ages\* | 0–80 |
| **Inherited IRA** | FIR Availability \*\* | Not available |
| **Inherited IRA** | Earliest FIR Income Start Date | N/A |
| **Inherited IRA** | Latest FIR Income Start Date | N/A |
| **Inherited IRA** | Latest FIR Purchase | N/A |
| **SEP IRA / SIMPLE IRA** | Base Policy Issue Ages\* | 18–80 |
| **SEP IRA / SIMPLE IRA** | FIR Availability \*\* | Not available |
| **SEP IRA / SIMPLE IRA** | Earliest FIR Income Start Date | N/A |
| **SEP IRA / SIMPLE IRA** | Latest FIR Income Start Date | N/A |
| **SEP IRA / SIMPLE IRA** | Latest FIR Purchase | N/A |
| **Non–Erisa TSA / 403(b) / One** <br> **Person Pension / Keogh** | Base Policy Issue Ages\* | 18–80 |
| **Non–Erisa TSA / 403(b) / One** <br> **Person Pension / Keogh** | FIR Availability \*\* | Not available |
| **Non–Erisa TSA / 403(b) / One** <br> **Person Pension / Keogh** | Earliest FIR Income Start Date | N/A |
| **Non–Erisa TSA / 403(b) / One** <br> **Person Pension / Keogh** | Latest FIR Income Start Date | N/A |
| **Non–Erisa TSA / 403(b) / One** <br> **Person Pension / Keogh** | Latest FIR Purchase | N/A |

---

\*

Base policy issue ages are based on owner(s) age

\*\*

Based on age of the Annuitant. We automatically issue the FIR if the Annuitant falls within the range displayed

Appendix 2-1

------

**Appendix 3**

***State Variations*** 

---

| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
| California | Your Right to Cancel ("Free Look") | &nbsp;&nbsp; If you are age 60 or older at the time the policy <br> is issued, you may cancel the policy within <br> 30 days from the date you received it and <br> receive a refund as follows:<br>(a) If you do not direct the premium <br> payment(s) be invested in the <br> Investment Divisions, we will return your <br> (i) policy charge and (ii) premium <br> payment(s), less any withdrawals.<br>(b) If you direct the premium payment(s) be <br> invested in the Investment Divisions, we <br> will return your (i) policy charge and <br> (ii) Account Value, on the day we <br> receive your request, in Good Order, <br> less any withdrawals.<br>|
|  | E- Delivery Credit | &nbsp;&nbsp; You may select electronic delivery; however, <br> the e-delivery credit is not available.<br>|
|  | Income Payments | &nbsp;&nbsp; Income Payments may be less than those that <br> we would provide to the same class of <br> Annuitants if the Accumulation Value, less any <br> applicable Surrender Charges, was used to <br> purchase any single premium immediate <br> annuity we offer on the Annuity <br> Commencement Date.<br>|
|  | &nbsp;&nbsp; Ownership changes or assignment of the <br> Annual Death Benefit Reset (ADBR) Rider<br>| &nbsp;&nbsp; An ownership change or assignment of the <br> policy does not terminate the ADBR Rider.<br>|
|  | &nbsp;&nbsp; Ownership changes or assignment of the <br> Investment Preservation Riders<br>| &nbsp;&nbsp; An ownership change or assignment of the <br> policy does not terminate the Investment <br> Preservation Rider, the Investment <br> Preservation Rider 2.0, the Investment <br> Preservation Rider 3.0, the Investment <br> Preservation Rider 4.0. or the Investment <br> Preservation Rider 5.0.<br>|
|  | &nbsp;&nbsp; Waiver of Surrender Charges for Home Health <br> Care Rider<br>| Not available. |
| Connecticut | IPR 5.0 – Rider Risk Charge Adjustment | &nbsp;&nbsp; For policies with an application signed on or <br> after November 13, 2023, the Rider Risk <br> Charge Adjustment does not apply for <br> cancelation of the IPR 5.0.<br>|
|  | &nbsp;&nbsp; Ownership Change or Assignment of the <br> Policy and IPR 5.0<br>| &nbsp;&nbsp; For policies with an application signed on or <br> after November 13, 2023, an ownership <br> change of the policy terminates the IPR 5.0 <br> but an assignment of the policy does not <br> terminate the IPR 5.0.<br>|
|  | Annual Death Benefit Reset (ADBR) Rider | &nbsp;&nbsp; An ownership change of the policy terminates <br> the ADBR but an assignment of the policy <br> does not terminate the ADBR. <br>|

---

Appendix 3-1

------

---

| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
| Delaware | Income Payments | &nbsp;&nbsp; Income Payments may be less than those that <br> we would provide to the same class of <br> Annuitants if the Accumulation Value, less any <br> applicable Surrender Charges, was used to <br> purchase any single premium immediate <br> annuity we offer on the Annuity <br> Commencement Date.<br>|
| Florida | Your Right to Cancel ("Free Look") | &nbsp;&nbsp; You may cancel the policy within 21 days from <br> the date you received it and receive (i) any <br> policy charge, (ii) and Accumulation Value.<br>|
|  | E- Delivery Credit | &nbsp;&nbsp; You may select electronic delivery; however, <br> the e-delivery credit is not available.<br>|
|  | Income Payments | &nbsp;&nbsp; Income Payments may be less than those that <br> we would provide to the same class of <br> Annuitants if the Accumulation Value, less any <br> applicable Surrender Charges, was used to <br> purchase any single premium immediate <br> annuity we offer on the Annuity <br> Commencement Date.<br>|
|  | &nbsp;&nbsp; Ownership changes or assignment of the <br> Investment Preservation Riders<br>| &nbsp;&nbsp; An ownership change or assignment of the <br> policy does not terminate the Investment <br> Preservation Rider, the Investment <br> Preservation Rider 2.0, Investment <br> Preservation Rider 3.0, the Investment <br> Preservation Rider 4.0 or the Investment <br> Preservation Rider 5.0.<br>|
|  | &nbsp;&nbsp; Ownership changes or assignment of the <br> Annual Death Benefit Reset (ADBR) Rider<br>| &nbsp;&nbsp; An ownership change or assignment of the <br> policy does not terminate the ADBR Rider.<br>|
| New Jersey | Civil Union Partner Endorsement | &nbsp;&nbsp; Civil Union partners are permitted to continue <br> the policy under the spousal continuance <br> provisions with the following exceptions. If your <br> Civil Union Partner continues the policy after <br> your death, your Civil Union Partner will have <br> all rights of ownership. However, to comply <br> with the Internal Revenue Code and the <br> applicable Treasury Regulations, the entire <br> proceeds of the policy must be either be:<br>(a) disbursed within five years of the <br> original Owner's death; or<br>(b) placed under the Life Income – <br> Guaranteed Period Payment Option or <br> any other Income Payment option that is <br> available at that time, provided that <br> such payments are made over the life of <br> the Civil Union Partner or over a number <br> of years that is not more than the life <br> expectancy of the Civil Union Partner <br> (as determined for federal tax purposes) <br> at the time of the original Owner's <br> death, and begin within one year after <br> the original Owner's death. <br>|

---

Appendix 3-2

------

---

| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
|  | IPR Death Benefit | &nbsp;&nbsp; For policies with an application signed on or <br> after November 13, 2023, the IPR 5.0 Death <br> Benefit is not available.<br>|
| New York | Nonforfeiture Value | &nbsp;&nbsp; Nonforfeiture Value—The Nonforfeiture Value <br> is equal to 100% of the Consideration(s) <br> allocated to the Fixed Account and/or to the <br> DCA Advantage Account accumulated at the <br> crediting rate (which shall be no less than the <br> Nonforfeiture Rate) since the Payment Date or <br> transfer date, minus any amounts withdrawn or <br> transferred from the Fixed Account and/or from <br> the DCA Advantage Account, with the <br> remaining amount accumulated at the crediting <br> rate since the date of withdrawal or transfer.<br>|
|  | Annual Death Benefit Reset (ADBR) Rider | &nbsp;&nbsp; (a) The name of the ADBR rider is <br> "Guaranteed Minimum Death Benefit <br> Rider".<br>(b) An ownership change or assignment of <br> the policy does not terminate the ADBR <br> rider.<br>|
|  | &nbsp;&nbsp; Annual Death Benefit Reset (ADBR) Rider <br> Charge<br>| &nbsp;&nbsp; The ADBR rider charge will be deducted from <br> each Investment Division in proportion to its <br> percentage of the Variable Account Value of <br> the applicable quarter and will not reduce your <br> Adjusted Premium Payments.<br>|
|  | Income Payments | &nbsp;&nbsp; Income Payments will not be less than those <br> that we would provide to the same class of <br> Annuitants if the Accumulation Value was used <br> to purchase any single premium immediate <br> annuity offered by NYLIAC on the Annuity <br> Commencement Date. <br>|

---

Appendix 3-3

------

---

| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
|  | Investment Preservation Riders | &nbsp;&nbsp; (a) While a policy is in force we may not <br> suspend or discontinue your right to <br> reset the guaranteed amount.<br>(b) If you discontinue the rider we will not <br> charge a Rider Risk Charge <br> Adjustment.<br>(c) An ownership change or assignment of <br> the policy does not terminate the IPR, <br> IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0.<br>(d) The IPR death benefit on the 20 year <br> Holding Period is 100% of the premium <br> payments made in the first Policy Year <br> (less proportional withdrawals) or, if <br> there is a reset, 100% of the <br> Accumulation Value as of the most <br> recent Rider Reset Effective Date (less <br> withdrawals made after such date.)<br>(e) The name of the IPR, IPR 3.0, IPR 4.0 <br> and IPR 5.0 is Guaranteed Minimum <br> Account Benefit. The name of the IPR <br> 2.0 is Guaranteed Minimum Account <br> Benefit 2.0.<br>(f) The IPR Guaranteed Amount under the <br> IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 <br> will not be lower than 100% of the <br> premium payments made in the first <br> Policy Year.<br>|
|  | &nbsp;&nbsp; Deduction of Charges relating to the <br> Investment Preservation Riders<br>| &nbsp;&nbsp; The IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR <br> 5.0 charge will be deducted from each <br> Investment Division based on funds in each <br> Rider Allocation Option each policy quarter.<br>|
|  | IPR Death Benefit | &nbsp;&nbsp; The IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0 <br> Death Benefit is not available. <br>|

---

Appendix 3-4

------

---

| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
|  | Future Income Rider | &nbsp;&nbsp; (a) Total Future Income Purchases may not <br> be more than 25% of your <br> Accumulation Value in a given Policy <br> Year.<br>(b) The Future Income Payment amount <br> purchased will be no less than the <br> greater of: a) the amount that could be <br> purchased by applying the Future <br> Income Purchase to the Future Income <br> purchase rate guarantees in this Rider; <br> and b) the amount that could be <br> purchased by applying the Future <br> Income Purchase under any guaranteed <br> paid-up deferred annuity policy offered <br> by NYLIAC to the same class of <br> annuitants on the Future Income Start <br> Date.<br>(c) The name of the FIR is "Guaranteed <br> Paid-Up Deferred Annuity Benefit <br> Rider".<br>|
|  | Definition of Adjusted Premium Payment | &nbsp;&nbsp; The definition of "Adjusted Premium <br> Payment"—is the total dollar amount of <br> premium payments made under the policy and <br> allocated to the Investment Divisions of the <br> Separate Account reduced by any withdrawals <br> (including Future Income Purchases) and <br> applicable surrender charges in excess of any <br> gain in the policy.<br>|
|  | Your Right to Cancel ("Free Look") | &nbsp;&nbsp; You may cancel the policy within ten (10) days <br> from the date you received it and receive <br> (i) any policy charge, (ii) and premium <br> payment(s), less any withdrawals.<br>|
|  | Automatic Asset Rebalancing (AAR) | &nbsp;&nbsp; You must affirmatively elect AAR on your <br> application or in a subsequent notice for your <br> policy to be subject to AAR.<br>|
|  | Delay of Payments | &nbsp;&nbsp; We will pay interest on deferred payments of <br> any partial withdrawal or full surrender request <br> deferred for ten (10) days or more.<br>|
|  | &nbsp;&nbsp; Our Right to Cancel for policies with less than <br> $20 per month of Accumulation Value<br>| &nbsp;&nbsp; If we do not receive premium payments for a <br> period of three years, and the Accumulation <br> Value of your policy would provide Income <br> Payments of less than $20 per month on the <br> Annuity Commencement Date, we reserve the <br> right to terminate your policy.<br>|
| North Dakota | Your Right to Cancel ("Free Look") | &nbsp;&nbsp; You may cancel the policy within twenty (20) <br> days from the date you received it and receive <br> (i) any rider charge, and (ii) the account value.<br>|
|  | E-Delivery Credit | &nbsp;&nbsp; You may select electronic delivery; however, <br> the e-delivery credit is not available. <br>|

---

Appendix 3-5

------

---

| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
|  | Income Payments | &nbsp;&nbsp; Income Payments may be less than those that <br> we would provide to the same class of <br> Annuitants if the Accumulation Value, less any <br> applicable Surrender Charges, was used to <br> purchase any single premium immediate <br> annuity we offer on the Annuity <br> Commencement Date.<br>|
| Oregon | IPR Holding Periods | &nbsp;&nbsp; The 7 Year Holding Period under the IPR 5.0 is <br> not available.<br>|
| South Dakota | Income Payments | &nbsp;&nbsp; Income Payments may be less than those that <br> we would provide to the same class of <br> Annuitants if the Accumulation Value, less any <br> applicable Surrender Charges, was used to <br> purchase any single premium immediate <br> annuity we offer on the Annuity <br> Commencement Date.<br>|
| Washington DC | Income Payments | &nbsp;&nbsp; Income Payments may be less than those that <br> we would provide to the same class of <br> Annuitants if the Accumulation Value, less any <br> applicable Surrender Charges, was used to <br> purchase any single premium immediate <br> annuity we offer on the Annuity <br> Commencement Date.<br>|
| Virginia | IPR Holding Periods | &nbsp;&nbsp; The 7 Year Holding Period under the IPR 5.0 is <br> not available.<br>|
| Washington | &nbsp;&nbsp; IPR 5.0 - Annual Charge and Rider Risk <br> Charge Adjustment<br>| &nbsp;&nbsp; For policies with an application signed on or <br> after November 13, 2023, the IPR 5.0 annual <br> charge is a percentage of the amount that is <br> guaranteed including amounts allocated to the <br> DCA Advantage Account but the annual <br> charge and Rider Risk Charge Adjustment <br> may not be deducted from the DCA Advantage <br> Account.<br>|

---

Appendix 3-6

------

**Appendix 4**

***HISTORICAL CHARGES AND VALUES FOR CERTAIN OPTIONAL BENEFITS***

**Charges for Resets of the Investment Preservation Riders** 

**IPR RESETS** 

---

| | | | |
|:---|:---|:---|:---|
| **IPR (Policies applied for between May 1, 2015 and April 30, 2016)** | **IPR (Policies applied for between May 1, 2015 and April 30, 2016)** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 and November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | 1.30% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 and November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 11 Year Holding Period | 2.00% | 1.05% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 and November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.85% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 and November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 and November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 and November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 and November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | 1.15% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 11 Year Holding Period | 2.00% | 1.00% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.80% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.65% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.55% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.45% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.55% |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **IPR (Policies applied for between May 1, 2016 and April 30, 2017)** | **IPR (Policies applied for between May 1, 2016 and April 30, 2017)** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 to November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | 1.35% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 to November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 11 Year Holding Period | 2.00% | 1.10% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 to November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.95% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 to November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.75% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 to November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.65% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 to November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.55% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 to November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date** <br> **between November 13, 2017 and April 30** <br> **2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | 1.15% |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date** <br> **between November 13, 2017 and April 30** <br> **2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 11 Year Holding Period | 2.00% | 1.00% |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date** <br> **between November 13, 2017 and April 30** <br> **2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.85% |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date** <br> **between November 13, 2017 and April 30** <br> **2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date** <br> **between November 13, 2017 and April 30** <br> **2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date** <br> **between November 13, 2017 and April 30** <br> **2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date** <br> **between November 13, 2017 and April 30** <br> **2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.60% |

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

Appendix 4-1

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---

| | | | |
|:---|:---|:---|:---|
| **IPR 2.0** | **IPR 2.0** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elected an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and April 30** <br> **2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 2.0, deducted on a quarterly basis) | 10 Year Holding Period | 2.00% | 1.15% |
| **Annual Charge if you elected an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and April 30** <br> **2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 2.0, deducted on a quarterly basis) | 11 Year Holding Period | 2.00% | 1.00% |
| **Annual Charge if you elected an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and April 30** <br> **2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 2.0, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.85% |
| **Annual Charge if you elected an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and April 30** <br> **2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 2.0, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge if you elected an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and April 30** <br> **2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 2.0, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge if you elected an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and April 30** <br> **2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 2.0, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge if you elected an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and April 30** <br> **2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 2.0, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.60% |

---

**Charges for IPR Portion of the IPR + ADBR Package** 

For policies applied for before May 1, 2016 and IPR resets with a Rider Reset Effective Date on or prior to April 30, 2019, the charge for the IPR portion of the IPR + ADBR Package is 0.05% less than the charge for the corresponding IPR purchased without the ADBR (see historic charges for the IPR in this Appendix 4). The annual charge of the IPR portion is calculated as the sum of (1) the Investment Preservation Rider Charge, calculated as an annualized percentage of the amount guaranteed under the Investment Preservation Rider; and (2) the Annual Death Benefit Reset Rider Charge, calculated as an annualized percentage of the ADBR Reset Value as of the last Policy Anniversary (or as of the Policy Date if within the first Policy Year), and deducted quarterly.:

**Charges for IPR 5.0 for policies with an application signed before February 10, 2025 are as follows:** 

---

| | | |
|:---|:---|:---|
| **ANNUAL CHARGES FOR IPR 5.0** | **ANNUAL CHARGES FOR IPR 5.0** | **ANNUAL CHARGES FOR IPR 5.0** |
| IPR 5.0 | IPR 5.0 | **Current**<br> **Charge**<br>|
| (calculated as an annualized percentage of the amount that is <br> guaranteed under the IPR 5.0, deducted on a quarterly basis) | 7 Year Holding Period | 0.80% |
| (calculated as an annualized percentage of the amount that is <br> guaranteed under the IPR 5.0, deducted on a quarterly basis) | 10 Year Holding Period | 0.70% |
| (calculated as an annualized percentage of the amount that is <br> guaranteed under the IPR 5.0, deducted on a quarterly basis) | 12 Year Holding Period | 0.70% |
| (calculated as an annualized percentage of the amount that is <br> guaranteed under the IPR 5.0, deducted on a quarterly basis) | 13 Year Holding Period | 0.60% |
| (calculated as an annualized percentage of the amount that is <br> guaranteed under the IPR 5.0, deducted on a quarterly basis) | 14 Year Holding Period | 0.55% |
| (calculated as an annualized percentage of the amount that is <br> guaranteed under the IPR 5.0, deducted on a quarterly basis) | 15 Year Holding Period | 0.50% |
| (calculated as an annualized percentage of the amount that is <br> guaranteed under the IPR 5.0, deducted on a quarterly basis) | 20 Year Holding Period | 0.60% |

---

**The percentages applicable for determining the Guaranteed Amount under IPR 5.0 for policies with an application signed before February 10, 2025 are:** 

---

| | |
|:---|:---|
| **IPR GUARANTEE PERCENTAGES FOR IPR 5.0** | **IPR GUARANTEE PERCENTAGES FOR IPR 5.0** |
| 7 Year Holding Period | 90% |
| 10 Year Holding Period | 105% |
| 12 Year Holding Period | 110% |
| 13 Year Holding Period | 110% |
| 14 Year Holding Period | 110% |
| 15 Year Holding Period | 110% |
| 20 Year Holding Period | 150% |

---

Appendix 4-2

------

**Back Cover Page** 

The Statement of Additional Information (SAI) dated May 1, 2026 contains more information about the policies and the Separate Accounts. The SAI has been filed with the SEC and is incorporated by reference into this Summary Prospectus. The SAI is posted on our website, https://dfinview.com/NewYorkLife/TAHD/premier-ii. For a free paper copy of the SAI, to request other information about the policies, and to make investor inquiries call us at (800) 598-2019 or write to us at NYLIAC Variable Product Service Center, Madison Square Station, P.O. Box 922, New York, NY 10159.

Reports and other information about the Separate Accounts are available on the SEC's website at https://www.sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

Separate Account III EDGAR contract identifier #C000154613

Separate Account IV EDGAR contract identifier #C000154615

------

**Statement of Additional Information** 

**May 1, 2026**

**for** 

**New York Life Premier Variable Annuity II** 

**From** 

**New York Life Insurance and Annuity Corporation**

**(a Delaware Corporation)** 

**51 Madison Avenue, New York, New York 10010** 

**Investing in** 

**NYLIAC Variable Annuity Separate Account-III**

**NYLIAC Variable Annuity Separate Account-IV** 

This Statement of Additional Information ("SAI") is not a prospectus. This SAI contains information that expands upon subjects discussed in the current New York Life Premier Variable Annuity II Prospectus. You should read the SAI in conjunction with the current New York Life Premier Variable Annuity II Prospectus dated May 1, 2026. You may obtain a copy of the Prospectus by calling New York Life Insurance and Annuity Corporation ("NYLIAC") at (800) 598-2019 or writing to NYLIAC at Madison Square Station, P.O. Box 922, New York, NY 10159. Terms used but not defined in this SAI have the same meaning as in the current New York Life Premier Variable Annuity II Prospectus.

**[**Table of Contents**](#xx_51b70b6c-e6a9-4906-98cd-da2de89245f1_TOC_0)** 

---

| | |
|:---|:---|
| **[General Information and History](#xx_975a2091-f158-41ee-9aea-f6424ba1b42d_1)** | &nbsp;&nbsp; 2 |
| [New York Life Insurance and Annuity Corporation](#xx_975a2091-f158-41ee-9aea-f6424ba1b42d_1) | &nbsp;&nbsp; 2 |
| [The Separate Account](#xx_975a2091-f158-41ee-9aea-f6424ba1b42d_1) | &nbsp;&nbsp; 2 |
| **[The Policies](#xx_975a2091-f158-41ee-9aea-f6424ba1b42d_1)** | &nbsp;&nbsp; 2 |
| [Future Income Purchases](#xx_975a2091-f158-41ee-9aea-f6424ba1b42d_2) | &nbsp;&nbsp; 3 |
| **[Additional information about risks (Non-Principal Risks)](#xx_975a2091-f158-41ee-9aea-f6424ba1b42d_3)** | &nbsp;&nbsp; 4 |
| **[Annuity Payments (The Income Phase)](#xx_975a2091-f158-41ee-9aea-f6424ba1b42d_3)** | &nbsp;&nbsp; 4 |
| **[General Matters](#xx_975a2091-f158-41ee-9aea-f6424ba1b42d_3)** | &nbsp;&nbsp; 4 |
| **[Federal Tax Matters](#xx_975a2091-f158-41ee-9aea-f6424ba1b42d_4)** | &nbsp;&nbsp; 5 |
| [Taxation of New York Life Insurance and Annuity Corporation](#xx_975a2091-f158-41ee-9aea-f6424ba1b42d_4) | &nbsp;&nbsp; 5 |
| [Tax Status of the Policies](#xx_975a2091-f158-41ee-9aea-f6424ba1b42d_4) | &nbsp;&nbsp; 5 |
| **[Safekeeping Of Separate Account Assets](#xx_975a2091-f158-41ee-9aea-f6424ba1b42d_5)** | &nbsp;&nbsp; 6 |
| **[State Regulation](#xx_975a2091-f158-41ee-9aea-f6424ba1b42d_5)** | &nbsp;&nbsp; 6 |
| **[Records and Reports](#xx_975a2091-f158-41ee-9aea-f6424ba1b42d_5)** | &nbsp;&nbsp; 6 |
| **[Financial Statements](#xx_975a2091-f158-41ee-9aea-f6424ba1b42d_5)** | &nbsp;&nbsp; 6 |
| **[Other Information](#xx_975a2091-f158-41ee-9aea-f6424ba1b42d_6)** | &nbsp;&nbsp; 7<br>|

---

------

**General Information and History**

------

***New York Life Insurance and Annuity Corporation*** 

New York Life Insurance and Annuity Corporation ("NYLIAC") is a stock life insurance company incorporated in Delaware in 1980. NYLIAC is licensed to sell life, accident and health insurance and annuities in the District of Columbia and all states. In addition to the policies described in this SAI, NYLIAC offers life insurance policies and other annuities.

NYLIAC is a wholly-owned subsidiary of New York Life Insurance Company, a mutual life insurance company doing business in New York since 1845. NYLIAC held assets of $223.5 billion at the end of 2025. New York Life Insurance Company has invested in NYLIAC, and will occasionally make additional contributions to NYLIAC in order to maintain capital and surplus in accordance with state requirements.

***The Separate Account*** 

Separate Account-III was established on November 30, 1994 and Separate Account-IV was established on June 10, 2003, pursuant to resolutions of the NYLIAC Board of Directors. The Separate Accounts are registered as unit investment trusts with the Securities and Exchange Commission under the Investment Company Act of 1940. This registration does not signify that the Securities and Exchange Commission supervises the management, or the investment practices or policies, of the Separate Accounts. Although the assets of the Separate Accounts belong to NYLIAC, these assets are held separately from our other assets. The Separate Accounts' assets are not chargeable with liabilities incurred in any of NYLIAC's other business operations (except to the extent that assets in the Separate Accounts exceed the reserves and other liabilities of that Separate Account). The income, capital gains and capital losses incurred on the assets of the Separate Accounts are credited to or charged against the assets of the Separate Accounts without regard to the income, capital gains or capital losses arising out of any other business NYLIAC may conduct. Therefore, the investment performance of the Separate Accounts is entirely independent of the investment performance of the Fixed Account, the DCA Advantage Account and any other separate account of NYLIAC.

**The Policies**

------

The following provides additional information about the policies and supplements the description in the Prospectus.

*Valuation of Accumulation Units*

Accumulation Units are valued separately for each Investment Division of the Separate Account. The method used for valuing Accumulation Units in each Investment Division is the same. We arbitrarily set the value of each Accumulation Unit as of the date operations began for the Investment Division. Thereafter, the value of an Accumulation Unit of an Investment Division for any Business Day equals the value of an Accumulation Unit in that Investment Division as of the immediately preceding Business Day multiplied by the "Net Investment Factor" for that Investment Division for the current Business Day.

We determine the Net Investment Factor for Accumulation Value Based M&E Charge (Separate Account-III) policies for each Investment Division for any period from the close of the preceding Business Day to the close of the current Business Day (the "Valuation Period") by the following formula:

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---

| | | | |
|:---|:---|:---|:---|
| (a/b) – c | (a/b) – c | (a/b) – c | (a/b) – c |
| Where:<br> a | = | the result of: | the result of: |
|  |  | (1) | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined <br> at the end of the current Valuation Period, plus<br>|
|  |  | (2) | the per share amount of any dividend or capital gain distribution made by the Eligible Portfolio for <br> shares held in the Investment Division if the "ex-dividend" date occurs during the current Valuation <br> Period;<br>|
| b | = | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined as <br> of the end of the immediately preceding Valuation Period; and | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined as <br> of the end of the immediately preceding Valuation Period; and |
| c | = | the daily Mortality and Expense Risk and Administrative Costs charge, which is 1/365th\* of the annual <br> Mortality and Expense Risk and Administrative Costs Charge shown on the Policy Data Page. | the daily Mortality and Expense Risk and Administrative Costs charge, which is 1/365th\* of the annual <br> Mortality and Expense Risk and Administrative Costs Charge shown on the Policy Data Page. |
| \* |  | In a leap year, this calculation is based on 366 days. | In a leap year, this calculation is based on 366 days. |

---

In each case, the Net Investment Factor for Premium Based M&E Charge (Separate Account-IV) policies is determined by the following formula:

---

| | | | |
|:---|:---|:---|:---|
| (a/b) | (a/b) | (a/b) | (a/b) |
| Where:<br> a | = | the result of: | the result of: |
|  |  | (1) | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined <br> at the end of the current Valuation Period, plus<br>|
|  |  | (2) | the per share amount of any dividend or capital gain distribution made by the Eligible Portfolio for <br> shares held in the Investment Division if the "ex-dividend" date occurs during the current Valuation <br> Period;<br>|
| b | = | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined as <br> of the end of the immediately preceding Valuation Period. | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined as <br> of the end of the immediately preceding Valuation Period. |

---

In each case, the Net Investment Factor may be greater or less than one. Therefore, the value of an Accumulation Unit in an Investment Division may increase or decrease from Valuation Period to Valuation Period.

***Future Income Purchases***

We will inform you of the following each time you submit a Future Income Purchase request:

&nbsp;&nbsp;&nbsp;&nbsp;1. That amounts used to purchase deferred income payments are not liquid.

&nbsp;&nbsp;&nbsp;&nbsp;2. That income payments are subject to the credit risk of NYLIAC's general account.

&nbsp;&nbsp;&nbsp;&nbsp;3. The amount of the Future Income Payment that you receive from NYLIAC may be higher or lower than the amount you might receive if you purchased a similar product offered by us or by another company. When making a Future Income Purchase, you should consider, in consultation with your agent, payment amounts for similar products, as well as your future income needs, contract terms, the claims paying ability of the insurance company and your tax situation.

Upon completion of the Future Income Purchase you will receive a confirmation statement which will inform you of the following:

&nbsp;&nbsp;&nbsp;&nbsp;1. The amount of future income purchased.

&nbsp;&nbsp;&nbsp;&nbsp;2. The lack of liquidity of amounts used to make the Future Income Purchase.

&nbsp;&nbsp;&nbsp;&nbsp;3. That you have the ability to consider other products (from us or another insurer) and cancel within a specific period of time.

Please note that the disclosures listed above will be included in the Future Income Purchase request form or the confirmation statement for each Future Income Purchase as soon as reasonably practicable after the date of this SAI.

------

**Additional information about risks (Non-Principal Risks)**

------

***Geopolitical Risks*** 

Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues like pandemics or epidemics, natural disasters, recessions, and other events, could have a serious negative impact on, among other things, the performance, liquidity and valuation of investments in the Portfolios you choose. In light of these developments, your premium and Accumulation Value allocation choices should be consistent with your personal investment objective and your risk tolerance. In addition, governmental authorities have imposed prohibitions on transactions in investments in certain foreign sectors—for example, prohibitions imposed by the U.S. government on investment in companies in the Communist Chinese defense and related material sectors and surveillance technology sectors. If Eligible Portfolios do not comply with such prohibitions, it is possible that we could not allow contract owners to make any new investment in those Portfolios (by premium allocation or transfer), and we could even require that contract owners move any Cash Value out of the affected Eligible Portfolio(s). You should consult each Fund's prospectus, statement of additional information, and annual and semi-annual reports for more information on these geopolitical risks and potential investment restrictions.

**Annuity Payments (The Income Phase)**

------

Unless you instruct us otherwise, we will make equal annuity payments each month under the Life Income Payment Option during the lifetime of the Annuitant. Once payments begin, they do not change and are guaranteed for 10 years even if the Annuitant dies sooner. If the Annuitant dies before all guaranteed payments have been made, the rest will be made to the Beneficiary. We may require that the payee submit proof of the Annuitant's survivorship as a condition for future payments beyond the 10-year guaranteed payment period.

On the Annuity Commencement Date, we will determine the Accumulation Value of your policy and use that value to calculate the amount of each annuity payment. We determine each annuity payment by applying the Accumulation Value, less any premium taxes, to the annuity factors specified in the annuity table set forth in the policy. Those factors are based on a set amount per $1,000 of proceeds applied. The appropriate rate must be determined by the gender (except where, as in the case of certain Qualified Policies and other employer-sponsored retirement plans, such classification is not permitted), date of application and age of the Annuitant. The dollars applied are then divided by 1,000 and the result multiplied by the appropriate annuity factor from the table to compute the amount of each monthly annuity payment.

**General Matters**

------

***Non-Participating.*** The policies are non-participating. Dividends are not paid.

***Misstatement of Age or Gender.*** If the Annuitant's stated age and/or gender in the policy are incorrect, NYLIAC will change the benefits payable to those which the premium payments would have purchased for the correct age and gender. Gender is not a factor when annuity benefits are based on unisex annuity payment rate tables. (See "Income Payments—Election of Income Payment Options" in the Prospectus.) If we made payments based on incorrect age or gender, we will increase or reduce a later payment or payments to adjust for the error. Any adjustment will include interest, at 1.0% per year, from the date of the wrong payment to the date the adjustment is made.

***Assignments.*** If permitted by the plan or by law for the plan indicated in the application for the policy, you may assign your interest in a Non-Qualified Policy or any interest in it prior to the Annuity Commencement Date and during the Owner's lifetime. In order to effect an assignment of all or any part of your interest in a Non-Qualified Policy prior to the Annuity Commencement Date and during the Owner's lifetime, you must send a duly executed instrument of assignment to the NYLIAC Variable Products Service Center at one of the addresses listed in the "CONTACTING NYLIAC" section of the Prospectus. NYLIAC will not be deemed to know of an assignment unless it receives a copy of a duly executed instrument evidencing such assignment in Good Order. Further, NYLIAC assumes no responsibility for the validity of any assignment. (See "Federal Tax Matters—Taxation of Annuities in General" of the Prospectus.)

***Modification.*** NYLIAC may not modify the policy without your consent except to make the policy meet the requirements of the Investment Company Act of 1940, or to make the policy comply with any changes in the Code or as required by the Code in order to continue treatment of the policy as an annuity, or by any other applicable law.

***Incontestability.*** We rely on statements made in the application or a Policy Request. They are representations, not warranties. We will not contest the policy after it has been in force during the lifetime of the Annuitant for two years from the Policy Date.

------

**Federal Tax Matters**

------

***Taxation of New York Life Insurance and Annuity Corporation***

NYLIAC is taxed as a life insurance company. Because the Separate Account is not an entity separate from NYLIAC, and its operations form a part of NYLIAC, it will not be taxed separately as a "regulated investment company" under Subchapter M of the Code. 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. Investment income and realized net capital gains on the assets of the Separate Account are reinvested and are taken into account in determining the Accumulation Value. As a result, such investment income and realized net capital gains are automatically retained as part of the reserves under the policy. 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.

***Tax Status of the Policies***

Section 817(h) of the Code requires that the investments of the Separate Account must be "adequately diversified" in accordance with Treasury regulations in order for the policies to qualify as annuity contracts under Section 72 of the Code. The Separate Account intends to comply with the diversification requirements prescribed by the Treasury under Treasury Regulation Section 1.817-5.

To comply with regulations under Section 817(h) of the Code, the Separate Account is required to diversify its investments, so that on the last day of each quarter of a calendar year, no more than 55% of the value of its assets is represented by any one investment, no more than 70% is represented by any two investments, no more than 80% is represented by any three investments, and no more than 90% is represented by any four investments. For this purpose, securities of a single issuer are treated as one investment and each U.S. Government agency or instrumentality is treated as a separate issuer. Any security issued, guaranteed, or insured (to the extent so guaranteed or insured) by the U.S. Government or an agency or instrumentality of the U.S. Government is treated as a security issued by the U.S. Government or its agency or instrumentality, whichever is applicable.

Although the Treasury Department has issued regulations on the diversification requirements, such regulations do not provide guidance concerning the extent to which policyowners may direct their investments to particular subaccounts of a separate account, or the permitted number of such subaccounts. It is unclear whether additional guidance in this regard will be issued in the future. It is possible that if such guidance is issued, the policy may need to be modified to comply with such additional guidance. For these reasons, NYLIAC reserves the right to modify the policy as necessary to attempt to prevent the policyowner from being considered the owner of the assets of the Separate Account or otherwise to qualify the policy for favorable tax treatment.

The Code also requires that non-qualified annuity contracts contain specific provisions for distribution of the policy proceeds upon the death of any policyowner. In order to be treated as an annuity contract for federal income tax purposes, the Code requires that such policies provide that (a) if any policyowner dies on or after the Annuity Commencement Date and before the entire interest in the policy has been distributed, the remaining portion must be distributed at least as rapidly as under the method in effect on the policyowner's death; and (b) if any policyowner dies before the Annuity Commencement Date, the entire interest in the policy must generally be distributed within 5 years after the policyowner's date of death. For policies owned by a grantor trust, these distribution requirements apply at the death of any Annuitant. These requirements will be considered satisfied if the entire interest of the policy is used to purchase an immediate annuity under which payments will begin within one year of the policyowner's death and will be made for the life of the Beneficiary or for a period not extending beyond the life expectancy of the Beneficiary. If the Beneficiary is the policyowner's surviving spouse (as defined under Federal law), the Policy may be continued with the surviving spouse as the new policyowner. If the policyowner is not a natural person, these "death of Owner" rules apply when the primary Annuitant dies or is changed. Non-Qualified Policies contain provisions intended to comply with these requirements of the Code. No regulations interpreting these requirements of the Code have yet been issued and thus no assurance can be given that the provisions contained in these policies satisfy all such Code requirements. The provisions contained in these policies will be reviewed and modified if necessary to assure that they comply with the Code requirements when clarified by regulation or otherwise.

------

Withholding of federal income taxes on the taxable portion of all distributions may be required unless the recipient elects not to have any such amounts withheld and properly notifies NYLIAC of that election. Different rules may apply to United States citizens or expatriates living abroad. In addition, some states have enacted legislation requiring withholding.

Even if a recipient elects no withholding, special rules may require NYLIAC to disregard the recipient's election if the recipient fails to supply NYLIAC with a "TIN" or taxpayer identification number (social security number for individuals) or if the Internal Revenue Service notifies NYLIAC that the TIN provided by the recipient is incorrect.

Under the Foreign Account Tax Compliance Act ("FATCA"), as reflected in Sections 1471 through 1474 of the IRC, 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 percent rate on certain payments beginning July 1, 2014.

**Safekeeping Of Separate Account Assets**

------

NYLIAC holds title to assets of the Separate Accounts. The assets are kept physically segregated and held separate and apart from NYLIAC's general corporate assets. Records are maintained of all purchases and redemptions of Portfolio shares held by each of the Investment Divisions.

**State Regulation**

------

NYLIAC is a stock life insurance company organized under the laws of Delaware, and is subject to regulation by the Delaware State Insurance Department. We file an annual statement with the Delaware Commissioner of Insurance on or before March 1 of each year covering the operations and reporting on the financial condition of NYLIAC as of December 31 of the preceding calendar year. Periodically, the Delaware Commissioner of Insurance examines the financial condition of NYLIAC, including the liabilities and reserves of the Separate Account.

In addition, NYLIAC is subject to the insurance laws and regulations of all the states where it is licensed to operate. The availability of certain policy rights and provisions depends on state approval and/or filing and review processes. Where required by state law or regulation, the policies will be modified accordingly.

**Records and Reports**

------

NYLIAC maintains all records and accounts relating to the Separate Account. If you believe a transaction has been processed incorrectly, it is your responsibility to contact us in writing and provide us with all relevant details. You must provide us with the nature of the error, the date of the error and any other relevant details. It is important that you review your confirmation and quarterly statements carefully and promptly report any errors and discrepancies to us, preferably, within fifteen (15) days of the date of the statement in question.

It is important that you inform NYLIAC of an address change so that you can receive these policy statements (See the "CONTACTING NYLIAC" section of the Prospectus). In the event your statement is returned from the U.S. Postal Service as undeliverable, we reserve the right to suspend mailing future correspondence and also suspend current transaction processing until an accurate address is obtained. Additionally, no new service requests can be processed until a valid current address is provided.

**Financial Statements**

------

The statutory financial statements of NYLIAC as of December 31, 2025 and 2024, and for each of the three years in the period ended December 31, 2025 incorporated in this SAI by reference to the report on Form N-VPFS dated April 7, 2026 have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting. The financial statements of each of the investment divisions of the Separate Account as of December 31, 2025 and for each of the periods indicated in the Financial Statements incorporated in this SAI by reference to the report on Form N-VPFS dated April 7, 2026 have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

------

<u>For Policies investing in NYLIAC Variable Annuity Separate Account—III:</u> 

[<u>Audited Statutory Financial Statements of NYLIAC as of December 31,</u> <u>2025 and</u> <u>2024 and</u> <u>for each of the three years</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)[<u>in the period ended December 31,</u> <u>2025</u> <u>— previously filed on Form N-VPFS for NYLIAC Variable Annuity Separate</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)[<u>Account—III (File No.</u> <u>811-0890</u><u>4), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)

[<u>Financial Statements of the Separate Account as of December 31,</u> <u>2025</u> <u>and for each of the periods as indicated in</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)[<u>those Financial Statements — previously filed on Form N-VPFS for NYLIAC Variable Annuity Separate Account—III (File</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)[<u>No.</u> <u>811-0890</u><u>4), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)

<u>For Policies investing in NYLIAC Variable Annuity Separate Account—IV:</u> 

[<u>Audited Statutory Financial Statements of NYLIAC as of December 31,</u> <u>2025 and</u> <u>2024 and</u> <u>for each of the three years</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)[<u>in the period ended December 31,</u> <u>2025</u> <u>— previously filed on Form N-VPFS for NYLIAC Variable Annuity Separate</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)[<u>Account—IV (File No.</u> <u>811-2139</u><u>7), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)

[<u>Financial Statements of the Separate Account as of December 31,</u> <u>2025</u> <u>and for each of the periods as indicated in</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)[<u>those Financial Statements — previously filed on Form N-VPFS for NYLIAC Variable Annuity Separate Account—IV (File</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)[<u>No.</u> <u>811-2139</u><u>7), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)

**Other Information**

------

NYLIAC filed a Registration Statement with the Securities and Exchange Commission, under the Securities Act of 1933 as amended, with respect to the policies discussed in the Prospectus and this SAI. We have not included all of the information set forth in the registration statement, amendments and exhibits to the registration statement in the Prospectus and this SAI. For more information, you should refer to the instruments filed with the Securities and Exchange Commission. The omitted information may be obtained at the principal offices of the Securities and Exchange Commission in Washington, D.C., upon payment of prescribed fees, or through the Commission's website at www.sec.gov.

------

**PROSPECTUS Dated May 1, 2026** 

**for** 

**New York Life Premier Plus Variable Annuity** 

**From** 

**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**(a Delaware Corporation)**

**51 Madison Avenue, New York, New York 10010** 

**Investing in** 

**NYLIAC Variable Annuity Separate Account-III**

**NYLIAC Variable Annuity Separate Account-IV** 

This Prospectus describes the individual flexible premium New York Life Premier Plus Variable Annuity policies issued by New York Life Insurance and Annuity Corporation (NYLIAC). We have discontinued sales of new policies, but we still accept new premium payments for in–force policies (except for the single premium version). The policies offer flexible premium payments, access to your money through partial withdrawals (some withdrawals may be subject to a surrender charge, federal and state income taxes, and/or a 10% federal penalty tax if withdrawn before age 59½), a choice of when Income Payments commence, and a guaranteed death benefit if the Owner dies before Income Payments have commenced. NYLIAC's obligations under the policies are subject to its financial strength and claims-paying ability. Please note that your policy may vary depending on your state. Any material variations are disclosed in the prospectus or in APPENDIX 3 – State Variations.

NYLIAC offered an individual single premium version of the policies in some states. APPENDIX 1 of this Prospectus modifies the May 1, 2026 Prospectus for the policies to describe the single premium version of the policies. The principal difference between the single premium version and the flexible premium version of the policies is that under the single premium policies you can only make one premium payment.

**The Securities and Exchange Commission (SEC) has not approved or disapproved these securities or passed upon the adequacy or accuracy of this Prospectus. Any representation to the contrary is a criminal offense.** 

**The policies are complex investments and involve risks, including potential loss of principal invested. The policies are not short-term investments and are not appropriate for investors who plan or need ready access to withdrawals as some withdrawals could result in surrender charges, taxes and tax penalties, as applicable. The policies are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not federally insured by the FDIC, the Federal Reserve Board, or any other agency.** Additional information about certain investment products, including variable annuities, has been prepared by the SEC staff and is available at www.Investor.gov.

Your premium payments accumulate on a tax–deferred basis. This means your earnings are not taxed until you take money out of your policy, which can be done in several ways. You can invest your premium payments among a Fixed Account, the Dollar Cost Averaging Advantage Account, and up to 18 separate Investment Divisions. Each Investment Division invests exclusively in the shares of a specified corresponding portfolio ("Portfolio"). The Portfolios and the fixed options are listed in **APPENDIX 2A**.

The Fixed Account is not available for policies issued in the State of New York.

**We do not guarantee the investment performance of the Investment Divisions. Depending on current market conditions, you can make or lose money in any of the Investment Divisions. Credits under the contract may be recaptured upon Free Look, annuitization, and death.**

NYLIAC will apply a Premium Credit to your premium payments. Fees and charges for a policy with a Premium Credit may be higher than those for other policies and, over time, the amount of the Premium Credit may be more than offset by those higher charges.

------

**Table of Contents** 

---

| | |
|:---|:---|
|  | **Page** |
| **[Definitions](#xx_7314ece0-07a2-41f3-a1b3-8d64e48080b0_1)** | &nbsp;&nbsp; 1 |
| **[Overview Of The Policy](#xx_f0d5eb84-4045-427e-8795-e513841affce_1)** | &nbsp;&nbsp; 5 |
| **[Important Information You Should Consider](#xx_07084d95-5623-4e18-9bbf-7e120bc20928_1)**<br> **[About The Policy](#xx_07084d95-5623-4e18-9bbf-7e120bc20928_1)**<br>| &nbsp;&nbsp; 8 |
| **[Fee Table](#xx_f85c3858-eb49-430a-954a-bcf9bc8e06f6_1)** | &nbsp;&nbsp; 12 |
| **[Principal Risks of Investing in the Policy](#xx_6716a79e-08e2-44d6-b625-464d6b5df8b2_1)** | &nbsp;&nbsp; 19 |
| **[Contacting NYLIAC](#xx_70dd5b04-5e12-437b-892f-30ac5aa549ac_1)** | &nbsp;&nbsp; 22 |
| **[NYLIAC And The Separate Accounts](#xx_405c2d5d-4cd8-4a32-8bb2-2214594b1f94_1)** | &nbsp;&nbsp; 24 |
| [New York Life Insurance and Annuity](#xx_405c2d5d-4cd8-4a32-8bb2-2214594b1f94_1)<br> [Corporation](#xx_405c2d5d-4cd8-4a32-8bb2-2214594b1f94_1)<br>| &nbsp;&nbsp; 24 |
| [The Separate Accounts](#xx_405c2d5d-4cd8-4a32-8bb2-2214594b1f94_1) | &nbsp;&nbsp; 24 |
| [The Portfolios](#xx_405c2d5d-4cd8-4a32-8bb2-2214594b1f94_1) | &nbsp;&nbsp; 24 |
| [Additions, Deletions, or Substitutions of](#xx_405c2d5d-4cd8-4a32-8bb2-2214594b1f94_5)<br> [Investments](#xx_405c2d5d-4cd8-4a32-8bb2-2214594b1f94_5)<br>| &nbsp;&nbsp; 28 |
| [Reinvestment](#xx_405c2d5d-4cd8-4a32-8bb2-2214594b1f94_6) | &nbsp;&nbsp; 29 |
| **[The Policies](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_1)** | &nbsp;&nbsp; 30 |
| [Selecting the Variable Annuity That's Right for](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_1)<br> [You](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_1)<br>| &nbsp;&nbsp; 30 |
| [Qualified and Non-Qualified Policies](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_2) | &nbsp;&nbsp; 31 |
| [Policy Application and Premium Payments](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_2) | &nbsp;&nbsp; 31 |
| [Accumulation (Savings) Phase](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_3) | &nbsp;&nbsp; 32 |
| [Crediting of Premium Payments](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_3) | &nbsp;&nbsp; 32 |
| [Valuation of Accumulation Units](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_3) | &nbsp;&nbsp; 32 |
| [Tax-Free Section 1035 Exchanges](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_4) | &nbsp;&nbsp; 33 |
| [Premium Credit](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_4) | &nbsp;&nbsp; 33 |
| [Your Right to Cancel ("Free Look")](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_5) | &nbsp;&nbsp; 34 |
| [Issue Ages](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_5) | &nbsp;&nbsp; 34 |
| [Transfers](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_6) | &nbsp;&nbsp; 35 |
| [Limits on Transfers](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_6) | &nbsp;&nbsp; 35 |
| [Speculative Investing](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_8) | &nbsp;&nbsp; 37 |
| [Online Service at www.newyorklife.com and](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_8)<br> [through the New York Life Mobile](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_8)<br> [Application](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_8)<br>| &nbsp;&nbsp; 37 |
| [Telephone Transactions](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_9) | &nbsp;&nbsp; 38 |
| [Third Party and Registered Representative](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_9)<br> [Actions](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_9)<br>| &nbsp;&nbsp; 38 |
| [Electronic Delivery](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_10) | &nbsp;&nbsp; 39 |
| **[Records and Reports](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_11)** | &nbsp;&nbsp; 40 |
| [Designation of Beneficiary](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_11) | &nbsp;&nbsp; 40 |
| [Delay of Payments](#xx_97e5224f-e9c9-48dc-bc94-84b126f95c39_11) | &nbsp;&nbsp; 40 |
| **[Benefits Available Under The Policies](#xx_48f68348-d1c9-41fa-99df-e2dc2421c5db_1)** | &nbsp;&nbsp; 42 |
| **[Description of Benefits](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_1)** | &nbsp;&nbsp; 51 |
| [The Standard Death Benefit – Death Before](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_1)<br> [Annuity Commencement](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_1)<br>| &nbsp;&nbsp; 51 |

---

---

| | |
|:---|:---|
|  | **Page** |
| [Annual Death Benefit Reset Rider](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_2) | &nbsp;&nbsp; 52 |
| [Enhanced Beneficiary Benefit Rider](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_4) | &nbsp;&nbsp; 54 |
| [Enhanced Spousal Continuance Rider](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_6) | &nbsp;&nbsp; 56 |
| [Investment Protection Plan Rider](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_6) | &nbsp;&nbsp; 56 |
| [Investment Protection Plan Rider/Annual Death](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_9)<br> [Benefit Reset Rider Package](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_9)<br>| &nbsp;&nbsp; 59 |
| [Investment Protection Plan II Rider](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_9) | &nbsp;&nbsp; 59 |
| [Investment Protection Plan II Rider/Annual](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_11)<br> [Death Benefit Reset Rider Package](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_11)<br>| &nbsp;&nbsp; 61 |
| [Guaranteed Investment Protection Rider](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_11) | &nbsp;&nbsp; 61 |
| [Guaranteed Investment Protection Rider 2.0](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_13) | &nbsp;&nbsp; 63 |
| [GIPR 2.0 Death Benefit](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_16) | &nbsp;&nbsp; 66 |
| [Guaranteed Investment Protection Rider or](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_17)<br> [Guaranteed Investment Protection Rider](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_17)<br> [2.0/Annual Death Benefit Reset Rider](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_17)<br> [Package](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_17)<br>| &nbsp;&nbsp; 67 |
| [Living Needs Benefit/Unemployment Rider](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_17) | &nbsp;&nbsp; 67 |
| [Living Needs Benefit Rider](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_18) | &nbsp;&nbsp; 68 |
| [Unemployment Benefit Rider](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_18) | &nbsp;&nbsp; 68 |
| [Breakpoint Credit Rider (available only for](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_18)<br> [policies purchased before July 1, 2013)](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_18)<br>| &nbsp;&nbsp; 68 |
| [Automatic Asset Reallocation](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_19) | &nbsp;&nbsp; 69 |
| [Dollar Cost Averaging Programs](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_20) | &nbsp;&nbsp; 70 |
| [Traditional Dollar Cost Averaging (not](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_21)<br> [available with the IPP, IPP II, GIPR and](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_21)<br> [GIPR 2.0 Riders)](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_21)<br>| &nbsp;&nbsp; 71 |
| [The DCA Advantage Account](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_21) | &nbsp;&nbsp; 71 |
| [Interest Sweep](#xx_333f1446-558d-4944-8be5-a07eb79d73b3_22) | &nbsp;&nbsp; 72 |
| **[Charges And Deductions](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_1)** | &nbsp;&nbsp; 74 |
| [Transaction Expenses](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_1) | &nbsp;&nbsp; 74 |
| [Surrender Charges](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_1) | &nbsp;&nbsp; 74 |
| [Amount of Surrender Charge](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_1) | &nbsp;&nbsp; 74 |
| [Exceptions to Surrender Charges](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_1) | &nbsp;&nbsp; 74 |
| [Transfer Fees](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_2) | &nbsp;&nbsp; 75 |
| [Payments Returned for Insufficient Funds](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_2) | &nbsp;&nbsp; 75 |
| [Annual Policy Expenses](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_2) | &nbsp;&nbsp; 75 |
| [Base Contract Charges (M&E Charge)](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_2) | &nbsp;&nbsp; 75 |
| [Administrative Expense – Policy Service](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_3)<br> [Charge](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_3)<br>| &nbsp;&nbsp; 76 |
| [Optional Benefit Expenses](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_3) | &nbsp;&nbsp; 76 |
| [Investment Protection Plan Rider Charge](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_3) | &nbsp;&nbsp; 76 |
| [Investment Protection Plan II Rider Charge](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_4) | &nbsp;&nbsp; 77 |
| [Guaranteed Investment Protection Rider](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_4)<br> [Charge](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_4)<br>| &nbsp;&nbsp; 77<br>|

---

i

------

---

| | |
|:---|:---|
|  | **Page** |
| [Guaranteed Investment Protection Rider 2.0](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_4)<br> [Charge](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_4)<br>| &nbsp;&nbsp; 77 |
| [Investment Protection Plan Riders Risk](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_5)<br> [Charge Adjustment (Cancellation](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_5)<br> [Charge)](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_5)<br>| &nbsp;&nbsp; 78 |
| [Enhanced Beneficiary Benefit Rider Charge](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_5) | &nbsp;&nbsp; 78 |
| [Annual Death Benefit Reset (ADBR) Rider](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_5)<br> [Charge](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_5)<br>| &nbsp;&nbsp; 78 |
| [Investment Protection Plan Rider/Annual](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_5)<br> [Death Benefit Reset Rider Package](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_5)<br> [Charge](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_5)<br>| &nbsp;&nbsp; 78 |
| [Investment Protection Plan II Rider/Annual](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_6)<br> [Death Benefit Reset Rider Package](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_6)<br> [Charge](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_6)<br>| &nbsp;&nbsp; 79 |
| [Guaranteed Investment Protection](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_6)<br> [Rider/Annual Death Benefit Reset Rider](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_6)<br> [Package Charge](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_6)<br>| &nbsp;&nbsp; 79 |
| [Guaranteed Investment Protection Rider](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_6)<br> [2.0/Annual Death Benefit Reset Rider](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_6)<br> [Package Charge](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_6)<br>| &nbsp;&nbsp; 79 |
| [Annual Portfolio Expenses](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_6) | &nbsp;&nbsp; 79 |
| [Group and Sponsored Arrangements](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_6) | &nbsp;&nbsp; 79 |
| [Taxes](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_7) | &nbsp;&nbsp; 80 |
| **[Distributions Under The Policy](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_7)** | &nbsp;&nbsp; 80 |
| [Surrenders and Withdrawals](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_7) | &nbsp;&nbsp; 80 |
| [Surrenders](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_8) | &nbsp;&nbsp; 81 |
| [Partial Withdrawals](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_8) | &nbsp;&nbsp; 81 |
| [Periodic Partial Withdrawals](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_9) | &nbsp;&nbsp; 82 |
| [Hardship Withdrawals](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_9) | &nbsp;&nbsp; 82 |
| [Required Minimum Distributions](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_9) | &nbsp;&nbsp; 82 |
| [Our Right to Cancel](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_9) | &nbsp;&nbsp; 82 |
| [Restrictions Under Code Section 403(b)(11)](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_10) | &nbsp;&nbsp; 83 |
| [Loans](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_10) | &nbsp;&nbsp; 83 |
| **[Annuity Payments (The Income Phase)](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_12)** | &nbsp;&nbsp; 85 |
| [Annuity Commencement Date](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_12) | &nbsp;&nbsp; 85 |
| [Income Payments](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_12) | &nbsp;&nbsp; 85 |
| [Election of Income Payment Options](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_12) | &nbsp;&nbsp; 85 |
| [Proof of Survivorship](#xx_3cb83eca-3a0c-427d-94c9-46d42777dbb9_13) | &nbsp;&nbsp; 86 |
| **[The Fixed Account](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_1)** | &nbsp;&nbsp; 87 |
| [Interest Crediting](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_1) | &nbsp;&nbsp; 87 |
| [Transfers Between the Fixed Account and](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_1)<br> [Investment Divisions or an Asset](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_1)<br> [Allocation Model](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_1)<br>| &nbsp;&nbsp; 87 |

---

---

| | |
|:---|:---|
|  | **Page** |
| **[The DCA Advantage Account](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_2)** | &nbsp;&nbsp; 88 |
| **[Federal Tax Matters](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_3)** | &nbsp;&nbsp; 89 |
| [Introduction](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_3) | &nbsp;&nbsp; 89 |
| [Taxation of Annuities in General](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_3) | &nbsp;&nbsp; 89 |
| [3.8 Percent Tax on Certain Investment Income](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_4) | &nbsp;&nbsp; 90 |
| [Partial Section 1035 Exchanges](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_4) | &nbsp;&nbsp; 90 |
| [Qualified Policies](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_5) | &nbsp;&nbsp; 91 |
| [(a) 403(b) Plans.](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_5) | &nbsp;&nbsp; 91 |
| [(b) Individual Retirement Annuities.](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_6) | &nbsp;&nbsp; 92 |
| [(c) Roth Individual Retirement Annuities.](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_6) | &nbsp;&nbsp; 92 |
| [(d) Inherited IRAs.](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_6) | &nbsp;&nbsp; 92 |
| [(e) SIMPLE IRAs.](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_7) | &nbsp;&nbsp; 93 |
| [Taxation of Death Benefits](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_7) | &nbsp;&nbsp; 93 |
| **[Distribution and Compensation](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_7)**<br> **[Arrangements](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_7)**<br>| &nbsp;&nbsp; 93 |
| **[Additional Information about Risks](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_8)** | &nbsp;&nbsp; 94 |
| [Information System Failures and Cybersecurity](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_8)<br> [Risks](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_8)<br>| &nbsp;&nbsp; 94 |
| [Risks from Serious Infectious Disease](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_9)<br> [Outbreaks](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_9)<br>| &nbsp;&nbsp; 95 |
| **[Legal Proceedings](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_9)** | &nbsp;&nbsp; 95 |
| **[Voting Rights](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_10)** | &nbsp;&nbsp; 96 |
| **[Financial Statements](#xx_8b05ad70-5dc7-4ad0-ae3e-367f189fb2a5_10)** | &nbsp;&nbsp; 96 |
| [Appendix](#xx_7817c7e5-bfb6-4b38-ae5b-b9669d4f3a74_1)[1](#xx_7817c7e5-bfb6-4b38-ae5b-b9669d4f3a74_1) | &nbsp;&nbsp; 1<br> -1<br>|
| [I. SINGLE PREMIUM ONLY](#xx_7817c7e5-bfb6-4b38-ae5b-b9669d4f3a74_1) | &nbsp;&nbsp; 1<br> -1<br>|
| [II. MAINTENANCE OF POLICY VALUE](#xx_7817c7e5-bfb6-4b38-ae5b-b9669d4f3a74_1) | &nbsp;&nbsp; 1<br> -1<br>|
| [Appendix](#xx_5cd5d760-26a5-4d79-8f19-4c152ca3785c_1)[2A](#xx_5cd5d760-26a5-4d79-8f19-4c152ca3785c_1) | &nbsp;&nbsp; 2A<br> -1<br>|
| [Investment Options Available Under the Policy](#xx_5cd5d760-26a5-4d79-8f19-4c152ca3785c_1) | &nbsp;&nbsp; 2A<br> -1<br>|
| [Appendix](#xx_c4198bc2-f92a-4a82-b496-b49aa897bf14_1)[2b](#xx_c4198bc2-f92a-4a82-b496-b49aa897bf14_1) | &nbsp;&nbsp; 2b<br> -1<br>|
| [Allocation Options available with IPP and IPP](#xx_c4198bc2-f92a-4a82-b496-b49aa897bf14_1)<br> [II](#xx_c4198bc2-f92a-4a82-b496-b49aa897bf14_1)<br>| &nbsp;&nbsp; 2b<br> -1<br>|
| [Appendix](#xx_6e321c4c-00a0-4382-b8ec-59900e935602_1)[2c](#xx_6e321c4c-00a0-4382-b8ec-59900e935602_1) | &nbsp;&nbsp; 2c<br> -1<br>|
| [Investment Divisions, Model Portfolios and](#xx_6e321c4c-00a0-4382-b8ec-59900e935602_1)<br> [Asset Allocation Models available with GIPR](#xx_6e321c4c-00a0-4382-b8ec-59900e935602_1)<br> [and GIPR 2.0](#xx_6e321c4c-00a0-4382-b8ec-59900e935602_1)<br>| &nbsp;&nbsp; 2c<br> -1<br>|
| [Appendix](#xx_3ee8e9a4-51d9-488a-8c60-6c334d26494f_1)[3](#xx_3ee8e9a4-51d9-488a-8c60-6c334d26494f_1) | &nbsp;&nbsp; 3<br> -1<br>|
| [State Variations](#xx_3ee8e9a4-51d9-488a-8c60-6c334d26494f_1) | &nbsp;&nbsp; 3<br> -1 <br>|

---

ii

------

**Definitions**

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**Accumulation Unit—** An accounting unit we use to calculate the Variable Accumulation Value prior to the Annuity Commencement Date. Each Investment Division of the Separate Account has a distinct variable Accumulation Unit value.

**Accumulation Value—** The sum of the Variable Accumulation Value, the Fixed Account Accumulation Value (if applicable), and the DCA Advantage Account Accumulation Value of a policy.

**ADBR—** Annual Death Benefit Reset Rider.

**ADBR Reset Value—** On the First Policy Anniversary, the ADBR Reset Value is the greater of (a) the Accumulation Value on the first Policy Anniversary or (b) the Return of Premium Death Benefit. The ADBR Reset Value on the second and each subsequent Reset Anniversary is defined as the greater of (a) the Accumulation Value on the current Reset Anniversary or (b) the Reset Value on the prior Reset Anniversary, plus any premium payments applied since the prior Reset Anniversary, less any ADBR Reset Value Proportional Reductions since the prior Reset Anniversary.

**ADBR Reset Value Proportional Reduction—** An amount equal to the amount withdrawn from the policy after the first policy anniversary (including applicable surrender charges), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the ADBR Reset Value immediately preceding the withdrawal.

**Adjusted Death Benefit Premium Payments—** The total dollar amount of premium payments made under this Policy reduced by any Adjusted Death Benefit Premium Payment Proportional Withdrawals.

**Adjusted Death Benefit Premium Payment Proportional Withdrawal—** An amount equal to the amount withdrawn from this Policy (including any amount withdrawn that may include surrender charges), divided by this Policy's Accumulation Value immediately preceding the withdrawal, multiplied by the Adjusted Death Benefit Premium Payments immediately preceding the withdrawal.

**Adjusted Premium Payment—** The total dollar amount of premium payments made under the policy and allocated to the Investment Divisions and DCA Advantage Account reduced by any withdrawals and applicable surrender charges in excess of any gain in the policy. The definition is different for policies issued in New York (see APPENDIX 3—State Variations for more information).

**Allocation Options—** The Investment Divisions of the Separate Account, any available Asset Allocation Model and the Fixed Account (including the DCA Advantage Account).

**Annuitant—** The person named on the Policy Data Page and whose life determines the Income Payments.

**Annuity Commencement Date—** The date on which we are to make the first Income Payment under the policy, which cannot be later than the date you attain age 95.

**Asset Allocation Category(ies)—** A group of Investment Divisions of the Separate Account categorized based on investment risk determined by NYLIAC.

**Asset Allocation Model—** A model portfolio comprised of Investment Divisions of the Separate Account. The Asset Allocation Models are no longer available for new investment. The Asset Allocation Model program was discontinued as of May 1, 2020.

**Base Contract Charge—** Mortality and Expense Risk and Administrative Costs Charge (M&E Charge).

**Beneficiary or beneficiary—** The person or entity having the right to receive the death benefit proceeds set forth in the policy and who is the "designated beneficiary" for purposes of Section 72 of the Code (as defined below).

**Business Day—** Generally, any day on which the New York Stock Exchange (NYSE) is open for trading. Our Business Day ends at 4:00 p.m. Eastern Time or the close of regular trading of the NYSE, if earlier.

**Code—** The Internal Revenue Code of 1986, as amended.

**Consideration—** A premium payment, or a portion thereof and/or, if allowable, a transfer amount from an Investment Division to the Fixed Account.

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**Dollar Cost Averaging (DCA) Advantage Account Accumulation Value—** The sum of premium payments, Premium Credits and Breakpoint Credits allocated to the DCA Advantage Account, plus interest credited on those premium payments, Premium Credits and Breakpoint Credits, less any transfers and partial withdrawals from the DCA Advantage Account, and less any surrender charges and policy service charges that may already have been deducted from the DCA Advantage Account. The DCA Advantage Account Accumulation Value will never be less than the DCA Advantage Account portion of the Nonforfeiture Value.

**Dollar Cost Averaging (DCA) Advantage Account—** An non-variable Allocation Option to which you may allocate Premium Payments, subject to the limitations described on the Policy Data Page, and from which amounts are transferred to the Investment Divisions proportionally on a monthly basis. The DCA Advantage Account duration is shown on the Policy Data Page. We credit the DCA Advantage Account with a fixed interest rate. The benefits payable under the DCA Advantage Account (including principal and interest) are payable from NYLIAC's general account and are subject to the claims-paying ability of NYLIAC.

**EBB—** Enhanced Beneficiary Benefit.

**Eligible Designated Beneficiary—** Eligible Designated Beneficiaries include spouses, minor children (until they reach the age of majority), someone who is disabled or chronically ill (including certain trusts for the disabled or chronically ill), or an individual not more than 10 years younger than the original IRA owner or plan participant.

**Fixed Account—** An account that is credited with a fixed interest rate which NYLIAC declares and is not part of the Separate Account. The benefits payable under the Fixed Account (including principal and interest) are payable from NYLIAC's general account and are subject to the claims-paying ability of NYLIAC.

**Fixed Account Accumulation Value—** The sum of premium payments, any Premium Credits and Breakpoint Credits and, if allowable, transfers allocated to the Fixed Account, plus interest credited on those premium payments, any Premium Credits and Breakpoint Credits and, if allowable, transfers, less any transfers and partial withdrawals from the Fixed Account, and less any surrender charges and policy service charges and rider charges assessed on and deducted from the Fixed Account. The Fixed Account Accumulation Value will never be less than the Fixed Account portion of the Nonforfeiture Value.

**Fund–** A mutual fund that has multiple series or Portfolios.

**General Office—** A New York Life field office.

**GIPR/GIPR 2.0—** Guaranteed Investment Protection Rider or Guaranteed Investment Protection Rider 2.0.

**GIPR 2.0 Death Benefit—** The death benefit available with the GIPR 2.0.

**Good Order—** Good Order is the standard that we apply when we determine whether an instruction is satisfactory. An instruction will be considered in Good Order if it complies with our administrative procedures and is sufficiently complete and clear that we do not need to exercise any discretion to follow such instruction or complete the transaction and that it complies with all relevant laws and regulations. We may delay or reject a request if it is not in Good Order. Good Order means the actual receipt by us of instructions relating to the requested transaction in writing or by other means we then permit (such as by telephone or electronic transmission), along with all forms and other information or documentation necessary to complete the request.

**Income Payments—** Periodic payments NYLIAC makes after the Annuity Commencement Date.

**Investment Division—** The variable investment options available under the policy. Each Investment Division invests exclusively in shares of a specified Portfolio.

**IPP/IPP II—** Investment Protection Plan or Investment Protection Plan II.

**Life Income – Guaranteed Period Payment Option–** The default Income Payment option available under this policy. Monthly payments made under this option are made over the life of the Annuitant(s) with a guarantee of 10 years of payments, even if the Annuitant dies before the 10–year has expired.

**M&E Charge—** Mortality and Expense Risk and Administrative Costs Charge. Also referred to as a "Base Contract Charge."

**Non–Qualified Policies—** Policies that are not available for use by individuals in connection with employee retirement plans intended to qualify for special federal income tax treatment under Sections 403(b), 408, and 408A of the Code.

------

Non–Qualified Policies include policies issued for other retirement plans or arrangements, including plans qualifying under Section 401(a) of the Code.

**Nonforfeiture Rate—** The rate used to calculate the Fixed Account and DCA Advantage Account Nonforfeiture Values. This rate, as shown on the Policy Data Page, is equal to the lesser of: a) 3.00%, and b) a rate that is not less than 1.00% and determined by using the six–month average of the five–year Constant Maturity Treasury Rate reported by the Federal Reserve for December through May (for period beginning July 1) and June through November (for period beginning January 1), rounded to the nearest .05%, minus 1.25%.

**Nonforfeiture Value—** The Nonforfeiture Value is equal to 87.50% of the Consideration(s) allocated to the Fixed Account and/or to the DCA Advantage Account accumulated at the Nonforfeiture Rate since the Payment Date or transfer date, minus any amounts withdrawn or transferred from the Fixed Account and/or the DCA Advantage Account, with the remaining amount accumulated at the Nonforfeiture Rate since the date of withdrawal or transfer. The definition is different for policies issued in New York (see APPENDIX 3—State Variations for more information).

**NYLIAC, we, our or us—** New York Life Insurance and Annuity Corporation.

**Owner (you, your)—** The individual(s) or entity(ies) designated as the Owner in the policy or as subsequently changed, who is entitled to exercise all rights under the policy.

**Payment Date—** The Business Day on which we receive a premium payment at the address specified in this Prospectus to receive such payment in Good Order.

**Policy Anniversary—** An anniversary of the Policy Date shown on the Policy Data Page.

**Policy Data Page—** Page 2 of the policy which contains the policy specifications.

**Policy Date—** The date from which we measure Policy Years, quarters, months, and Policy Anniversaries. It is shown on the Policy Data Page.

**Policy Year—** A year starting on the Policy Date. Subsequent Policy Years begin on each Policy Anniversary, unless otherwise indicated.

**Portfolios (Portfolios)—** The mutual fund portfolios in which the corresponding Investment Divisions invest.

**Premium Credit—** An additional credit we will apply to your Accumulation Value at the time you make premium payments. The Premium Credit is calculated as a percentage of (each) premium payment(s) and will never be less than the guaranteed minimum premium credit rate displayed on the Policy Data Page (the "Premium Credit Rate").

**Qualified Policies—** Policies for use by individuals under employee retirement plans that are intended to qualify for special federal income tax treatment under Sections 403(b), 408, and 408A of the Code. Qualified Policies do not include policies issued for any other retirement plans or arrangements, including plans qualifying under Section 401(a) of the Code.

**Rider Reset–––** Changing the guaranteed amount of an Investment Protection Plan Rider, Investment Protection Plan II Rider, Guaranteed Investment Protection Rider or Guaranteed Investment Protection Rider 2.0 to make it equal to the Accumulation Value (less any applicable reductions) on the next Policy Anniversary.

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

**Separate Account—** NYLIAC Variable Annuity Separate Account–III or NYLIAC Variable Annuity Separate Account–IV, each a segregated asset account we established to receive and invest premium payments paid under the policies. The Separate Account's Investment Divisions, in turn, purchase shares of Portfolios.

**Standard Death Benefit –** The death benefit that comes standard under the base policy. It guarantees that your beneficiaries will receive the greater of: (i) your Accumulation Value, less any outstanding loan balance and less any Premium Credits applied within the 12 months immediately preceding death (in states where permitted); or (ii) the Adjusted Death Benefit Premium Payments.

**Surrender Charge Free Amount –** You may withdraw a certain amount from your policy each Policy Year without having to pay a surrender charge on that amount. We call this the Surrender Charge Free Amount. We will not assess a surrender charge on amounts you withdraw in any Policy Year that are the greatest of either: (i) 10% of your

------

Accumulation Value as of the last Policy Anniversary (10% of your premium payment if the withdrawal is made in the first Policy Year), less any prior surrender charge free withdrawals during the Policy Year; (ii)10% of your Accumulation Value at the time of withdrawal, less any prior surrender charge free withdrawals you have already taken in that Policy Year; or (iii) your Accumulation Value less your accumulated premium payments.

**Surrender Charge Period –** The eight–year period of time during which a partial withdrawal or surrender could be subject to a surrender charge. Each premium payment you make will have its own Surrender Charge Period applicable to that payment.

**Variable Accumulation Value—** The sum of the current Accumulation Unit value(s) for each of the Investment Divisions multiplied by the number of Accumulation Units held in the respective Investment Division.

**VPSC—** The Variable Products Service Center.

------

**Overview Of The Policy**

------

**Q.** **What is this policy, and what is it designed to do?** 

A. The New York Life Premier Plus Variable Annuity is designed to assist individuals with their long–term retirement planning or other long–term needs through investments in a variety of Allocation Options during an accumulation (savings) phase of the policy. The policy also offers death benefits to protect your designated beneficiaries. You can also elect to supplement your retirement income by converting your Accumulation Value into a stream of Income Payments (sometimes called annuity payments). This policy is only appropriate if you have a long investment time horizon. It is not intended for people who may need to make early or frequent withdrawals or intend to engage in frequent trading in the Portfolios.

**Q.** **How do I accumulate assets in the policy and receive income from the policy?** 

A. Your policy has two phases:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the accumulation (savings) phase, when you make premium payments to us, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the annuity (income) phase, when we make Income Payments to you; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● a DCA Advantage Account, which transfers amounts automatically to the Investment Divisions you choose in up to six monthly increments and pays you interest on amounts remaining in the DCA Advantage Account.

**<u>Accumulation (Savings) Phase</u>** 

During the accumulation (savings) phase of the policy, you can invest your premium payments in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● a variety of Investment Divisions (you may choose up to 18). Each Investment Division invests in a corresponding (mutual fund) Portfolio, each of which has its own investment strategies, investment adviser(s), expense ratios, and returns. Each Portfolio also has its own investment risks, including risk of loss of the amount invested.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● a Fixed Account option, which offers a guaranteed fixed interest rate for one–year periods; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● a DCA Advantage Account, which transfers amounts automatically to the Investment Divisions you choose in up to six monthly increments and pays you interest on amounts remaining in the DCA Advantage Account.

**Additional information about the Portfolios, the Fixed Account and the DCA Advantage Account is provided in Appendix 2A: *Investment Options Available Under the Policy*** 

**<u>Annuity (Income) Phase</u>** 

You can elect to annuitize your policy and turn your Accumulation Value into a fixed stream of Income Payments (sometimes called annuity payments) from NYLIAC. If you do that, we will make payments over the life of the Annuitant(s) for 10 years, even if the Annuitant dies sooner. This is called the Life Income – Guaranteed Period Payment Option. We may offer other options, at our discretion, where permitted by state law. We do not currently offer variable Income Payment options.

Please note that when you annuitize, your Accumulation Value will be converted to Income Payments and you may no longer withdraw money at will from your policy. However, you may elect partial annuitization and apply a portion of your Accumulation Value towards one of the Income Payment options we may offer, while the remainder of your Accumulation Value can remain invested in your Allocation Options. All benefits (including guaranteed minimum death benefits and living benefits) terminate when you annuitize your entire Accumulation Value.

**Q.** **What are the policy's primary features and options?** 

**Base Contract Charge (M&E Charge) options.** You can choose to have your Mortality and Expense Risk and Administrative Costs Charge ("M&E Charge") assessed based on either the Accumulation Value of the policy (which invests in Separate Account III) or your Adjusted Premium Payments (which invests in Separate Account IV). You must choose your M&E Charge option at the time of application. The M&E Charge assessed to your policy will be based on the option that you choose. Once the M&E Charge option is chosen it cannot be changed. For Accumulation Value–based M&E Charge policies, the M&E Charge is assessed based on the Accumulation

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Value of the policy and will vary with fluctuations in the policy's Accumulation Value. For Premium–based M&E Charge policies, the M&E Charge is assessed based on your Adjusted Premium Payments and will not vary with fluctuations in the policy's Accumulation Value. Please see "CHARGES AND DEDUCTIONS—Annual Policy Expenses—Base Contract Charges (M&E Charge)" for more information.

The amount of Premium–based M&E Charges deducted from your Accumulation Value will be unaffected by fluctuations in market performance. In a rising market, the Premium–based M&E Charge structure will benefit you because, when calculated as a percentage of separate account assets, the Premium-based M&E Charge will be reduced. In a flat or declining market, the Premium–based M&E Charge structure will result in a higher charge when calculated as a percentage of separate account assets. The amount of Accumulation Value–based M&E Charges assessed to your policy will be affected by fluctuations in market performance. However, the Accumulation Value–based M&E Charge structure may be more advantageous in a flat or declining market.

**Premium Credit.** We will add a lump sum amount (Premium Credit) to your Accumulation Value at the time you make each premium payment. The Premium Credit is calculated as a percentage of each premium payment. The percentage will depend on the rate schedule then in effect and will never be less than 2.00%. Premium Credits may be recaptured if you cancel your policy in accordance with its Free Look provision, or if we make a payment under the Standard Death Benefit. As of the date of this Prospectus, the Premium Credit Rate schedule is as follows:

**&nbsp;&nbsp;&nbsp;&nbsp; <u>Total Accumulated Premiums</u> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Credit Rate</u>**

**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** $499,999 or Less&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;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $500,000 or greater&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; 4.00%&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Accessing your money.** Until you annuitize (begin Income Payments), you have full access to your money. You can choose to withdraw part or all of your Accumulation Value at any time through partial withdrawals, periodic partial withdrawals, hardship withdrawals or surrendering the policy. See "ANNUITY PAYMENTS (THE INCOME PHASE)—Annuity Commencement Date." However, if you withdraw more than the Surrender Charge Free Amount during the Surrender Charge Period before age 59½, you may have to pay a surrender charge and/or taxes, including tax penalties (see "CHARGES AND DEDUCTIONS—Transaction Expenses—Exceptions to Surrender Charges").

**Transferring your money.** You may, within limits, transfer amounts between Investment Divisions of the Separate Account, an available Asset Allocation Model or to the Fixed Account (if available) any time prior to 30 days before the Annuity Commencement Date, although certain restrictions may apply with respect to transfers into the Fixed Account for Premium–based M&E Charge policies. 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.

**Tax treatment.** Your premium payments accumulate on a tax-deferred basis. This means your earnings are not taxed until you take money out of your policy, such as when (1) you make a withdrawal; (2) you receive an Income Payment from the policy; or (3) upon payment of a death benefit.

**Loans—TSA plans/Accumulation Value–based M&E Charge policies only.** You may be able to borrow some of your Accumulation Value subject to certain conditions only if you (i) purchased your policy in connection with a 403(b) (TSA) plan, and (ii) chose to have your M&E charges based on the Accumulation Value of your policy.

**Death benefits.** Your policy includes a Standard Death Benefit that will pay your designated beneficiary(ies) the greater of: (i) the Accumulation Value less any outstanding loan balance and less any Premium Credits applied within the 12 months immediately preceding death (in states where permitted), or (ii) the Adjusted Death Benefit Premium Payments (see "Definitions"). The Enhanced Beneficiary Benefit Rider, the Enhanced Spousal Continuance Rider, the GIPR 2.0, and the Annual Death Benefit Reset (ADBR) Rider were also available for an additional fee at the time of application. These optional benefits may increase the amount of money payable to your designated beneficiaries upon your death. These riders were only available when you applied for your policy.

**Optional benefits that occur during your lifetime.** For an additional fee, certain investment protection riders were available at the time of application that protect your investment from a declining market, for a specified

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Holding Period (the Investment Protector Plan (IPP) Rider, the IPP II Rider, the Guaranteed Investment Protection Rider (GIPR), and the GIPR 2.0 Rider). If your policy offered the IPP Rider, it can be purchased at any time for an additional fee.

**Living Needs Benefit/Unemployment benefit.** At no additional charge, we currently include a Living Needs Benefit Rider and an Unemployment Benefit Rider (or a combined Living Needs Benefit/Unemployment Rider) with all policies. These benefits increase the amount that can be withdrawn from your policy without a surrender charge when certain qualifying events occur.

**Automatic asset reallocation and dollar cost averaging.** At no additional charge, you may select automatic asset reallocation, which automatically rebalances your value in the Investment Divisions to maintain your chosen percentage allocation. Also, at no additional charge, you may select either (i) traditional dollar cost averaging, which automatically transfers a specific amount of money from any Investment Division to any combination of Investment Divisions and/or Fixed Account at set intervals, or (ii) the DCA Advantage Account, which is an Allocation Option that transfers amounts automatically to the Investment Divisions you choose in up to six monthly increments and pays you interest on amounts remaining in the account. (You may not elect traditional dollar cost averaging if you have elected automatic asset reallocation).

**Interest Sweep.** At no additional charge, you may select the interest sweep option which automatically transfers interest earned on the Fixed Account to one or any combination of Investment Divisions or an available Asset Allocation Model.

**Electronic Delivery.** You may elect to receive electronic delivery of current prospectuses related to this policy, as well as other policy-related documents.

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

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| | |
|:---|:---|
| **FEES, EXPENSES AND ADJUSTMENTS** | **LOCATION IN**<br> **PROSPECTUS**<br>|

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| | | |
|:---|:---|:---|
| **Are There** <br> **Charges for Early** <br> **Withdrawals?**<br>| **Yes.** If you withdraw more than the Surrender Charge Free Amount <br> within 8 years following your last premium payment, you will be <br> assessed a surrender charge. The maximum surrender charge is 8% of <br> the amount withdrawn during the first two Payment Years declining to <br> 0% over that eight-year period. For example, if you make an early <br> withdrawal within the first two Payment Years, you could pay a <br> surrender charge of up to $8,000 on a $100,000 investment. The <br> withdrawal amount could be reduced by taxes or tax penalties.<br>| **CHARGES AND** <br> **DEDUCTIONS –** <br> **Transaction** <br> **Expenses –** <br> **Surrender Charges**<br>**FEE TABLE**<br>|

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| | | |
|:---|:---|:---|
| **Are There** <br> **Transaction** <br> **Charges?**<br>| **Yes.** In addition to surrender charges, we reserve the right to assess a <br> transaction charge if you transfer cash value between investment <br> options more than 12 times a year, or if a premium payment is returned <br> for insufficient funds. A loan processing fee may apply if you take a <br> policy loan. Although we do not currently charge for such transactions, <br> we reserve the right to charge up to $30 per transaction.<br>| **CHARGES AND** <br> **DEDUCTIONS –** <br> **Transaction** <br> **Expenses**<br>**FEE TABLE**<br>|

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| | | |
|:---|:---|:---|
| **Are There** <br> **Ongoing Fees** <br> **and Expenses?**<br>| **Yes.** The table below describes the fees and expenses that you may <br> pay *each year*, depending on the investment options and optional <br> benefits you choose. Please refer to your Policy Data Page for <br> information about the specific fees you will pay each year based on the <br> options you have elected.<br>| **CHARGES AND** <br> **DEDUCTIONS –** <br> **Annual Policy** <br> **Expenses; Annual** <br> **Portfolio Expenses;** <br> **Optional Benefit** <br> **Expenses**<br>**FEE TABLE**<br>|

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

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| | | | |
|:---|:---|:---|:---|
| **ANNUAL FEE** | **MINIMUM** | **MAXIMUM** |  |
| Base contract<sup>1</sup> | 1.65% | 1.75% | **CHARGES AND** <br> **DEDUCTIONS –** <br> **Annual Policy** <br> **Expenses**<br>|
| Portfolio fees and expenses<sup>2</sup> | 0.37% | 1.45% | **CHARGES AND** <br> **DEDUCTIONS –** <br> **Annual Portfolio** <br> **Expenses**<br>|
| Optional benefits available for an <br> additional charge (for a single <br> optional benefit, if elected)<sup>3</sup><br>| 0.30% | 0.85% | **CHARGES AND** <br> **DEDUCTIONS –** <br> **Optional Benefit** <br> **Expenses** <br>|

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<sup>1</sup> As a percentage of Accumulation Value after the Surrender Charge <br> Period for the initial premium (Minimum Base Contract Charge) and as <br> a percentage of Adjusted Premium Payments during the Surrender <br> Charge Period for the initial premium (Maximum Base Contract <br> Charge), plus a percentage attributable to the Annual Policy Service <br> Charge.<br> <sup>2</sup> As a percentage of average net Portfolio assets. The range in fees <br> and expenses is for the year ended December 31, 2025 and will <br> change from year to year.<br> <sup>3</sup> As a percentage of the guarantee under the optional benefit.<br>

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| | |
|:---|:---|
| Because your policy is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your <br> policy, the following table shows the lowest and highest cost you could <br> pay *each year*, based on current charges. This estimate assumes that <br> you do not take withdrawals from the policy, **which could add** <br> **surrender charges that substantially increase costs.** | Because your policy is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your <br> policy, the following table shows the lowest and highest cost you could <br> pay *each year*, based on current charges. This estimate assumes that <br> you do not take withdrawals from the policy, **which could add** <br> **surrender charges that substantially increase costs.** |
| **LOWEST ANNUAL COST:**<br>$1,845.93 | **HIGHEST ANNUAL COST**<br>$3,744.05 |
| Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Least expensive combination of <br> Base Contract Charges and <br> Portfolio fees and expenses<br>•No optional benefits<br> •No sales charges<br> •No additional purchase <br> payments, transfers or <br> withdrawals<br>| Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Most expensive combination of <br> Base Contract Charges, <br> optional benefits, and Portfolio <br> fees and expenses<br>•No sales charges<br> •No additional purchase <br> payments, transfers or <br> withdrawals |

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| | | |
|:---|:---|:---|
|  | **RISKS** | **LOCATION IN** <br> **PROSPECTUS**<br>|
| **Is There a Risk of** <br> **Loss from Poor** <br> **Performance?**<br>| **Yes**. You can lose money by investing in this policy. | **PRINCIPAL RISKS** <br> **OF INVESTING IN** <br> **THE POLICY**<br>|
| **Is This a** <br> **Short-Term**<br> **Investment?**<br>| **No**. This policy is not designed for short-term investing and is not <br> appropriate for an investor who readily needs access to cash. <br> Surrender charges apply for up to 8 years following your last premium <br> payment. They will reduce the value of your policy if you withdraw <br> money during that time. Withdrawals may also be subject to federal and <br> state income taxes and tax penalties. The benefits of tax deferral and <br> living benefit protections also mean the policy is more beneficial to <br> investors with a long time horizon. If you purchased the IPP, IPP II, <br> GIPR or GIPR 2.0, you will not receive a benefit under the rider unless <br> you hold the policy for at least the specified holding period applicable to <br> the rider.<br>| **PRINCIPAL RISKS** <br> **OF INVESTING IN** <br> **THE POLICY** <br>|

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|:---|:---|:---|
| **What Are the** <br> **Risks Associated**<br> **with the** <br> **Investment**<br> **Options?**<br>| •An investment in this policy is subject to the risk of poor investment <br> performance and can vary depending on the performance of the <br> variable investment options (e.g., Portfolios) and guaranteed options <br> (e.g., the Fixed Account and DCA Advantage Account) you choose.<br>•Each investment option, including the Fixed Account and DCA <br> Advantage Account, has its own unique risks.<br>•You should review the prospectuses for the available Portfolios and <br> the description in this prospectus of the Fixed Account and the DCA <br> Advantage Account before making an investment decision.<br>| **PRINCIPAL RISKS** <br> **OF INVESTING IN** <br> **THE POLICY**<br>|
| **What Are the** <br> **Risks Related to** <br> **the Insurance** <br> **Company?**<br>| An investment in the policy is subject to the risks related to NYLIAC, <br> including that any obligations, guarantees, and benefits of the policy <br> are subject to the claims-paying ability of NYLIAC. If NYLIAC <br> experiences financial distress, it may not be able to meet its obligations <br> to you. More information about NYLIAC is available upon request from <br> NYLIAC by calling the VPSC at 1-800-598-2019.<br>| **PRINCIPAL RISKS** <br> **OF INVESTING IN** <br> **THE POLICY**<br>|

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| | | |
|:---|:---|:---|
|  | **RESTRICTIONS** | **LOCATION IN** <br> **PROSPECTUS**<br>|
| **Are There Limits** <br> **on the** <br> **Investment** <br> **Options?**<br>| **Yes.**<br> •We limit the number of Investment Divisions you may choose. You <br> may allocate premium payments and Accumulation Value to up to 18 <br> separate Investment Divisions, plus the Fixed Account and DCA <br> Advantage Account, some of which may not be available under your <br> policy.<br>•We reserve the right to charge $30 for each transfer when you <br> transfer money between Investment Divisions in excess of 12 times in <br> a Policy Year.<br>•Additional restrictions apply with respect to transfers to and from the <br> Fixed Account and DCA Advantage Account.<br>•We reserve the right to limit transfers in circumstances of frequent <br> transfers or to prevent market timing.<br>•We reserve the right to remove, close, or substitute Portfolios as <br> investment options that are available under the policy.<br>•Premium Credits under the policy may be recaptured upon free look, <br> annuitization, and death.<br>| **THE** <br> **POLICIES—Policy** <br> **Application and** <br> **Premium Payments,** <br> **Transfers, and** <br> **Limits on Transfers**<br>**NYLIAC AND THE** <br> **SEPARATE** <br> **ACCOUNTS—**<br> **Additions,** <br> **Deletions, or** <br> **Substitutions of** <br> **Investments**<br>|
| **Are There** <br> **Restrictions on** <br> **Policy Benefits?**<br>| **Yes.**<br> •Certain optional benefits limit or restrict the investment options you <br> may select under the policy. We may change these restrictions in the <br> future.<br>•Certain optional benefits may limit withdrawals or other rights under <br> the policy.<br>•Under certain benefits, a withdrawal could reduce the value of a <br> benefit by more than the dollar amount of the withdrawal and/or could <br> terminate the benefit.<br>•You are required to have a minimum Accumulation Value for some <br> optional benefits.<br>•We may modify or discontinue an optional benefit at any time.<br> •Some optional benefits cannot be cancelled without surrendering <br> your policy.<br>| **DESCRIPTION OF** <br> **BENEFITS** <br>|

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|:---|:---|:---|
|  | **TAXES** | **LOCATION IN** <br> **PROSPECTUS**<br>|
| **What are the** <br> **Policy's Tax**<br> **Implications?**<br>| •Consult with a tax professional to determine the tax implications of <br> an investment in, withdrawals from and surrenders of this policy.<br>•If you purchase the policy through a tax-qualified plan or individual <br> retirement account (IRA), such plan or IRA already provides tax <br> deferral under the Code and there are fees and charges in an annuity <br> that may not be included in such other investments. Therefore, the <br> tax deferral of the policy does not provide additional benefits.<br>•Premiums that are made on a pre-tax basis as well as earnings on <br> your policy are taxed at ordinary income tax rates when you withdraw <br> them, and you may have to pay a 10% penalty tax if you take a <br> withdrawal before age 59½.<br>| **FEDERAL TAX** <br> **MATTERS**<br>|
|  | **CONFLICTS OF INTEREST** | **LOCATION IN** <br> **PROSPECTUS**<br>|
| **How are** <br> **Investment**<br> **Professionals**<br> **Compensated?**<br>| Your registered representative may receive compensation for selling <br> this policy to you, in the form of commissions, asset-based <br> compensation, allowances for expenses, and other compensation <br> programs. Your registered representative may have a financial incentive <br> to offer or recommend this policy over another investment.<br>| **DISTRIBUTION AND** <br> **COMPENSATION** <br> **ARRANGEMENTS**<br>|
| **Should I** <br> **Exchange My** <br> **Policy?**<br>| Your registered representative may have a financial incentive to offer <br> you a new policy in place of the one you own. You should consider <br> exchanging your policy if you determine, after comparing the features, <br> fees, risks of both policies, and any fees or penalties to terminate the <br> existing policy, that it is in your best interest to purchase the new policy <br> rather than continue to own your existing policy.<br>| **THE POLICIES –** <br> **Tax-Free** <br> **Section 1035** <br> **Exchanges;**<br> **Selecting the** <br> **Variable Annuity** <br> **That's Right for You**<br>|

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**Fee Table**

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**The following tables describe the fees and expenses that you will pay when buying, owning, making withdrawals from, or surrendering the policy. Please refer to your Policy Data Page for information about the specific fees you will pay each year based on the options you have elected.** 

**The first table describes the fees and expenses that you will pay at the time that you buy the policy, surrender, or make withdrawals from the policy, or transfer Accumulation Value between investment options. State premium taxes may also be deducted.**

**<u>Transaction Expenses</u>** 

**Surrender Charges (as a percentage of amount withdrawn). Applied to amounts in excess of the Surrender Charge Free Amount that you may withdraw each Policy Year.** 

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Payment Year** | **1** | **2** | **3** | **4** | **5** | **6** | **7** | **8** | **9+** |
| Surrender Charge | 8.00% | 8.00% | 7.00% | 6.00% | 5.00% | 4.00% | 3.00% | 2.00% | 0.00% |

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|:---|:---|:---|
| **Other Transaction Charges** | **Guaranteed**<br> **maximum charge**<br>| **Current**<br> **charge**<br>|
| Transfer Fee (charged for transfers in excess of 12 in a Policy Year) | $30 | $0 |
| Payments Returned for Insufficient Funds | $20 | $0 |
| Loan Processing Fee (TSA Plans only) | $25 | $0 |

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**The next table describes the fees and expenses that you will pay *each year* during the time that you own the policy (not including Portfolio fees and expenses).** 

**If you choose to purchase an optional benefit, you will pay additional charges, as shown below.** 

**<u>Annual Policy Expenses</u>** 

**Base Contract Charges (Without Optional Benefits)** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Policies with Accumulation**<br> **Value Base Contract Charges**<sup>1</sup> | **Policies with Accumulation**<br> **Value Base Contract Charges**<sup>1</sup> | **Policies with Premium**<br> **Base Contract Charges**<sup>2</sup> | **Policies with Premium**<br> **Base Contract Charges**<sup>2</sup> |
| **Administrative**<br> **Expense**<sup>3</sup><br>| $30 | $30 | $30 | $30 |
| **Base Contract**<br> **Expenses**<sup>4</sup><br> **(as an annualized**<br> **percentage of daily**<br> **Variable Accumulation**<br> **Value)** | **Guaranteed**<br> **Maximum Charge**<br>| **Current Charge** | **Guaranteed**<br> **Maximum Charge**<br>| **Current Charge** |
| **Base Contract**<br> **Expenses**<sup>4</sup><br> **(as an annualized**<br> **percentage of daily**<br> **Variable Accumulation**<br> **Value)** | 1.65% | 1.65% | 1.75% | 1.75% |

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<sup>1</sup>

As an annualized percentage of daily Variable Accumulation Value.

<sup>2</sup>

As an annualized percentage of Adjusted Premium Payments.

<sup>3</sup>

We call this fee the "Annual Policy Service Charge" in your policy and elsewhere in the prospectus. This fee is waived for policies that have $100,000 or more of Accumulation Value on a given Policy Anniversary.

<sup>4</sup>

We call this the "Mortality and Expense Risk and Administrative Costs Charge (M&E)" in your policy and elsewhere in this prospectus.

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**<u>Optional Benefit Expenses</u>** 

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|:---|:---|:---|
| **Investment Protection Plan Rider (Policies applied for before** <br> **February 15, 2010)**<br>| **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br> (calculated as an annualized percentage of the amount that is guaranteed <br> under the IPP Rider, deducted on a quarterly basis).<br>| 1.00% | 0.65% |
| **Annual Charge if you added the IPP or elected an IPP Rider Reset** <br> **with an effective date between May 1, 2016 and November 12, 2017**<br>| 1.00% | 0.85% |
| **Annual Charge if you added the IPP or elected an IPP Rider Reset** <br> **with an effective date on or after November 13, 2017**<br>| 1.00% | 0.80% |

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|:---|:---|:---|
| **Investment Protection Plan Rider (Policies applied for on or after** <br> **February 15, 2010)**<br>| **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br> (calculated as an annualized percentage of the amount that is guaranteed <br> under the IPP Rider, deducted on a quarterly basis).<br>| 1.25% | 0.65% |
| **Annual Charge if you added the IPP or elected an IPP Rider Reset** <br> **with an effective date between May 1, 2016 and November 12, 2017**<br>| 1.25% | 0.85% |
| **Annual Charge if you added the IPP or elected an IPP Rider Reset** <br> **with an effective date between November 13, 2017 and April 30, 2019**<br>| 1.25% | 0.80% |
| **Annual Charge if you added the IPP or elected an IPP Rider Reset** <br> **with an effective date on or after May 1, 2019**<br>| 1.25% | 0.70% |

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| | | |
|:---|:---|:---|
| **All IPP Riders** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Rider Risk Charge Adjustment (Cancellation Charge)**<br> (one-time charge for cancellation of the IPP, calculated as a percentage of <br> the amount guaranteed).<br>| 2.00% | 2.00% |

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|:---|:---|:---|
| **Investment Protection Plan Rider (IPP II) Riders** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br> (calculated as an annualized percentage of the amount that is guaranteed <br> under the IPP II, deducted on a quarterly basis).<br>| 1.50% | 0.65% |
| **Annual Charge if you elected an IPP II Rider Reset with an effective** <br> **date between May 1, 2016 and November 12, 2017**<br>| 1.50% | 0.85% |
| **Annual Charge if you elected an IPP II Rider Reset with an effective** <br> **date between November 13, 2017 and April 30, 2019**<br>| 1.50% | 0.80% |
| **Annual Charge if you elected an IPP II Rider Reset with an effective** <br> **date on or after May 1, 2019**<br>| 1.50% | 0.70% |
| **Rider Risk Charge Adjustment (Cancellation Charge)**<br> (one-time charge for cancellation of the IPP II, calculated as a percentage <br> of the amount guaranteed).<br>| 2.00% | 2.00% |

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|:---|:---|:---|
| **Guaranteed Investment Protection (GIPR) Rider** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br> (calculated as an annualized percentage of the amount that is guaranteed <br> under the GIPR, deducted on a quarterly basis).<br>| 1.50% | 0.65% |
| **Annual Charge if you elected a GIPR Rider Reset with an effective** <br> **date between May 1, 2016 and November 12, 2017**<br>| 1.50% | 0.85% |
| **Annual Charge if you elected a GIPR Rider Reset with an effective** <br> **date between November 13, 2017 and April 30, 2019**<br>| 1.50% | 0.80% |
| **Annual Charge if you elected a GIPR Rider Reset with an effective** <br> **date on or after May 1, 2019**<br>| 1.50% | 0.70% |
| **Rider Risk Charge Adjustment (Cancellation Charge)**<br> (one-time charge for cancellation of the GIPR, calculated as a percentage <br> of the amount guaranteed).<br>| 2.00% | 2.00% |

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| | | | |
|:---|:---|:---|:---|
| **Guaranteed Investment Protection 2.0 (GIPR 2.0) Rider** | **Guaranteed Investment Protection 2.0 (GIPR 2.0) Rider** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> GIPR 2.0, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.65% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> GIPR 2.0, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> GIPR 2.0, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.40% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> GIPR 2.0, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.30% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> GIPR 2.0, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.50% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between May 1, 2016 and November 12,** <br> **2017** | 12 Year Holding Period | 1.50% | 0.85% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between May 1, 2016 and November 12,** <br> **2017** | 13 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between May 1, 2016 and November 12,** <br> **2017** | 14 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between May 1, 2016 and November 12,** <br> **2017** | 15 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between May 1, 2016 and November 12,** <br> **2017** | 20 Year Holding Period | 1.50% | 0.60% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between November 13, 2017 and** <br> **April 30, 2019** | 12 Year Holding Period | 1.50% | 0.80% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between November 13, 2017 and** <br> **April 30, 2019** | 13 Year Holding Period | 1.50% | 0.65% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between November 13, 2017 and** <br> **April 30, 2019** | 14 Year Holding Period | 1.50% | 0.55% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between November 13, 2017 and** <br> **April 30, 2019** | 15 Year Holding Period | 1.50% | 0.45% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date** <br> **between November 13, 2017 and** <br> **April 30, 2019** | 20 Year Holding Period | 1.50% | 0.55% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date on or** <br> **after May 1, 2019** | 12 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date on or** <br> **after May 1, 2019** | 13 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date on or** <br> **after May 1, 2019** | 14 Year Holding Period | 1.50% | 0.55% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date on or** <br> **after May 1, 2019** | 15 Year Holding Period | 1.50% | 0.45% |
| **Annual Charge if you elected a GIPR 2.0** <br> **Rider Reset with an effective date on or** <br> **after May 1, 2019** | 20 Year Holding Period | 1.50% | 0.55%  |

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| | | | |
|:---|:---|:---|:---|
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Rider Risk Charge Adjustment** <br> **(Cancellation Charge)**<br>(one–time charge for cancellation of the <br> GIPR 2.0; calculated as a percentage of <br> the amount guaranteed) | 12 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment** <br> **(Cancellation Charge)**<br>(one–time charge for cancellation of the <br> GIPR 2.0; calculated as a percentage of <br> the amount guaranteed) | 13 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment** <br> **(Cancellation Charge)**<br>(one–time charge for cancellation of the <br> GIPR 2.0; calculated as a percentage of <br> the amount guaranteed) | 14 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment** <br> **(Cancellation Charge)**<br>(one–time charge for cancellation of the <br> GIPR 2.0; calculated as a percentage of <br> the amount guaranteed) | 15 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment** <br> **(Cancellation Charge)**<br>(one–time charge for cancellation of the <br> GIPR 2.0; calculated as a percentage of <br> the amount guaranteed) | 20 Year Holding Period | 1.00% | 1.00% |

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

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| | | |
|:---|:---|:---|
| **Annual Death Benefit Reset Rider (ADBR)** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **ADBR Rider Charge**<br>(calculated as an annualized percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the Policy Date if within the first Policy <br> Year), deducted on a quarterly basis; for a detailed explanation of the term <br> "ADBR Reset Value," see "DESCRIPTION OF BENEFITS–Annual Death <br> Benefit Reset (ADBR) Rider"). | 1.00% | 0.30%<br>*(if the oldest* <br> *Owner was age 65* <br> *or younger when* <br> *the policy was* <br> *issued)*<br>|
| **ADBR Rider Charge**<br>(calculated as an annualized percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the Policy Date if within the first Policy <br> Year), deducted on a quarterly basis; for a detailed explanation of the term <br> "ADBR Reset Value," see "DESCRIPTION OF BENEFITS–Annual Death <br> Benefit Reset (ADBR) Rider"). | 1.00% | 0.35%<br>*(if the oldest* <br> *Owner was age 66* <br> *to 75 inclusive* <br> *when the policy* <br> *was issued)*<br>|

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

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| | | | |
|:---|:---|:---|:---|
| **IPP + ADBR Package** | **Guaranteed**<br> **Maximum Combined** <br> **Charge for the IPP + ADBR** <br> **Package**<br>| **Current**<br> **Charge for the** <br> **IPP Portion of the** <br> **IPP + ADBR** <br> **Package**<br>| **Current**<br> **Charge for the** <br> **ADBR Portion of** <br> **the IPP + ADBR** <br> **Package**<br>|
| **Annual Charge for Investment Protection** <br> **Plan Rider/Annual Death Benefit Reset** <br> **Rider Package (IPP + ADBR Package)**<br> (calculated as the sum of (1) the <br> Investment Protection Plan Rider Charge, <br> calculated as an annualized percentage of <br> the amount guaranteed under the <br> Investment Protection Plan Rider; and <br> (2) the Annual Death Benefit Reset Rider <br> Charge, calculated as an annualized <br> percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the <br> Policy Date if within the first Policy Year)) | 2.00% | 0.65% (for riders <br> applied for on or <br> after February 15, <br> 2010)<br>| 0.25% |
| **Annual Charge for Investment Protection** <br> **Plan Rider/Annual Death Benefit Reset** <br> **Rider Package (IPP + ADBR Package)**<br> (calculated as the sum of (1) the <br> Investment Protection Plan Rider Charge, <br> calculated as an annualized percentage of <br> the amount guaranteed under the <br> Investment Protection Plan Rider; and <br> (2) the Annual Death Benefit Reset Rider <br> Charge, calculated as an annualized <br> percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the <br> Policy Date if within the first Policy Year)) | 2.00% | 0.75% (for riders <br> applied for prior to <br> February 15, <br> 2010)<br>| 0.25% |
| **IPP II + ADBR Package** | **Guaranteed**<br> **Maximum Combined** <br> **Charge for the IPP II +** <br> **ADBR Package**<br>| **Current**<br> **Charge for the** <br> **IPP Portion of the** <br> **IPP II + ADBR** <br> **Package**<br>| **Current**<br> **Charge for the** <br> **ADBR Portion of** <br> **the IPP II + ADBR** <br> **Package** <br>|

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| | | | |
|:---|:---|:---|:---|
| **Annual Charge for Investment Protection** <br> **Plan II Rider /Annual Death Benefit Reset** <br> **Rider Package (IPP + ADBR Package)**<br> Charge (calculated as the sum of (1) the <br> Investment Protection Plan II Rider Charge, <br> calculated as an annualized percentage of <br> the amount guaranteed under the <br> Investment Protection Plan II Rider; and <br> (2) the Annual Death Benefit Reset Rider <br> Charge, calculated as an annualized <br> percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the <br> Policy Date if within the first Policy Year))<br>| 2.00% | 0.65% | 0.25% |

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

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| | | | |
|:---|:---|:---|:---|
| **GIPR + ADBR Package** | **Guaranteed**<br> **Maximum Combined** <br> **Charge for the GIPR +** <br> **ADBR Package**<br>| **Current**<br> **Charge for the** <br> **GIPR Portion of** <br> **the GIPR + ADBR** <br> **Package**<br>| **Current**<br> **Charge for the** <br> **ADBR Portion of** <br> **the GIPR + ADBR** <br> **Package**<br>|
| **Annual charge for Guaranteed** <br> **Investment Protection Plan Rider/Annual** <br> **Death Benefit Reset Rider Package** <br> **(GIPR + ADBR Package)**<br> (calculated as the sum of (1) the <br> Guaranteed Investment Protection Rider <br> Charge, calculated as an annualized <br> percentage of the amount guaranteed <br> under the Guaranteed Investment <br> Protection Rider; and (2) the Annual Death <br> Benefit Reset Rider Charge, calculated as <br> an annualized percentage of the ADBR <br> Reset Value as of the last Policy <br> Anniversary (or as of the Policy Date if <br> within the first Policy Year)).<br>| 2.00% | 0.65% | 0.25% |

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **GIPR 2.0 + ADBR Package** | **GIPR 2.0 + ADBR Package** | **Guaranteed**<br> **Maximum** <br> **Combined** <br> **Charge for the** <br> **GIPR 2.0 + ADBR** <br> **Package**<br>| **Current**<br> **Charge for the** <br> **GIPR Portion of** <br> **the GIPR 2.0 +** <br> **ADBR Package**<br>| **Current**<br> **Charge for the** <br> **ADBR Portion of** <br> **the GIPR + ADBR** <br> **Package**<br>|
| **Annual charge for Guaranteed** <br> **Investment Protection Plan** <br> **Rider 2.0/Annual Death Benefit** <br> **Reset Rider Package (GIPR 2.0** <br> **+ ADBR Package)**<br>(calculated as the sum of (1) the <br> Guaranteed Investment Protection <br> Rider 2.0 Charge, calculated as <br> an annualized percentage of the <br> amount guaranteed under the <br> Guaranteed Investment Protection <br> Rider 2.0; and (2) the Annual <br> Death Benefit Reset Rider <br> Charge, calculated as an <br> annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)). | 12 Year Holding <br> Period<br>| 2.00% | 0.65% | 0.25% |
| **Annual charge for Guaranteed** <br> **Investment Protection Plan** <br> **Rider 2.0/Annual Death Benefit** <br> **Reset Rider Package (GIPR 2.0** <br> **+ ADBR Package)**<br>(calculated as the sum of (1) the <br> Guaranteed Investment Protection <br> Rider 2.0 Charge, calculated as <br> an annualized percentage of the <br> amount guaranteed under the <br> Guaranteed Investment Protection <br> Rider 2.0; and (2) the Annual <br> Death Benefit Reset Rider <br> Charge, calculated as an <br> annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)). | 13 Year Holding <br> Period<br>| 2.00% | 0.55% | 0.25% |
| **Annual charge for Guaranteed** <br> **Investment Protection Plan** <br> **Rider 2.0/Annual Death Benefit** <br> **Reset Rider Package (GIPR 2.0** <br> **+ ADBR Package)**<br>(calculated as the sum of (1) the <br> Guaranteed Investment Protection <br> Rider 2.0 Charge, calculated as <br> an annualized percentage of the <br> amount guaranteed under the <br> Guaranteed Investment Protection <br> Rider 2.0; and (2) the Annual <br> Death Benefit Reset Rider <br> Charge, calculated as an <br> annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)). | 14 Year Holding <br> Period<br>| 2.00% | 0.50% | 0.25% |
| **Annual charge for Guaranteed** <br> **Investment Protection Plan** <br> **Rider 2.0/Annual Death Benefit** <br> **Reset Rider Package (GIPR 2.0** <br> **+ ADBR Package)**<br>(calculated as the sum of (1) the <br> Guaranteed Investment Protection <br> Rider 2.0 Charge, calculated as <br> an annualized percentage of the <br> amount guaranteed under the <br> Guaranteed Investment Protection <br> Rider 2.0; and (2) the Annual <br> Death Benefit Reset Rider <br> Charge, calculated as an <br> annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)). | 15 Year Holding <br> Period<br>| 2.00% | 0.40% | 0.25% |
| **Annual charge for Guaranteed** <br> **Investment Protection Plan** <br> **Rider 2.0/Annual Death Benefit** <br> **Reset Rider Package (GIPR 2.0** <br> **+ ADBR Package)**<br>(calculated as the sum of (1) the <br> Guaranteed Investment Protection <br> Rider 2.0 Charge, calculated as <br> an annualized percentage of the <br> amount guaranteed under the <br> Guaranteed Investment Protection <br> Rider 2.0; and (2) the Annual <br> Death Benefit Reset Rider <br> Charge, calculated as an <br> annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)). | 20 Year Holding <br> Period<br>| 2.00% | 0.50% | 0.25% |

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

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| | | |
|:---|:---|:---|
| **Enhanced Beneficiary Benefit Rider** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge for Enhanced Beneficiary Benefit Rider**<br> (calculated as an annualized percentage of the policy's Accumulation <br> Value, deducted on a quarterly basis).<br>| 1.00% | 0.30% |

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**The next table shows the minimum and maximum total operating expenses charged by the Portfolios that you may pay periodically during the time that you own the policy. The expenses may change over time and may be higher or lower in the future. A complete list of Portfolios available under the policy, including their annual expenses, may be found in APPENDIX 2A**.

**<u>Annual Portfolio Expenses</u>** 

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| | | |
|:---|:---|:---|
|  | **Minimum** | **Maximum** |
| Expenses that are deducted from the Portfolio assets, including <br> management fees, distribution and/or service (12b-1) fees, and other <br> expenses.<sup>1</sup> <br>|  |  |
| Before fee waivers and expense reimbursements | 0.37% | 1.45% |
| After fee waivers and expense reimbursements<sup>2</sup> <br>| 0.28% | 1.45% |

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Shown as a percentage of average net assets for the fiscal year ended December 31, 2025.

Fee waivers and expense reimbursements are expected to continue through April 30, 2027 and may be terminated at any time thereafter at the option of the Portfolio company.

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**<u>Examples</u>** 

**These Examples are intended to help you compare the cost of investing in the Investment Divisions with the cost of investing in other annuity contracts that offer variable options. These costs include transaction expenses, annual policy expenses and Annual Portfolio Expenses.** 

**These Examples assume all Accumulation Value is allocated to the Investment Divisions. Your costs could differ from those shown below if you invest in the Fixed Account or the DCA Advantage Account.** 

**These Examples assume that you invest $100,000 in the Investment Divisions for the time periods indicated. The Examples also assume that your investment has a 5% return each year, and assumes the most expensive combination of Base Contract Charges, Annual Portfolio Expenses and optional benefits for an additional charge.\* Although your actual costs may be higher or lower, based on these assumptions your costs would be:** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Years | Years | Years | Years |
|  | 1 yr | 3 yr | 5 yr | 10 yr |
| If you surrender your policy at the end of the applicable time <br> period:<br>| $12044.64 | $20841.39 | $28740.43 | $48503.52 |
| If you annuitize at the end of the applicable time period: | $12044.64 | $14508.85 | $24200.58 | $48503.52 |
| If you do not surrender your policy: | $4832.59 | $14508.85 | $24200.58 | $48503.52 |
| \*Assumes you have elected a policy with premium-based Base <br> Contract charges with the GIPR 2.0 (20-year Holding Period), the <br> ADBR and the EBB.<br>|  |  |  |  |

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**Principal Risks of Investing in the Policy**

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This section is intended to summarize the principal risks of investing in the policy.

**Market Risk.** You can lose money by investing in this policy, including loss of principal. An investment in this policy is subject to the risk of poor investment performance and can vary depending on the performance of the Allocation Options you choose. You bear the risk of any decline in your policy's value resulting from the performance of the Portfolios you have chosen. Amounts allocated to a Portfolio or an Asset Allocation Model are subject to the risks inherent in the securities markets and, specifically, to price fluctuations in the Portfolios' investments. Each investment option (including the Fixed Account) has its own unique risks. For more information about the risks of investing in a particular Portfolio, see that Portfolio's prospectus which can be found online at https://dfinview.com/NewYorkLife/TAHD/premierplus. You can also request this information at no cost by calling the VPSC at 1-800-598-2019 or by sending an email request with your name and address to PremierPlusProspectus@newyorklife.com. You should review the prospectuses for the available Portfolios before making an investment decision.

**Early Withdrawal Risk.** This policy is not designed for short–term investing and is not appropriate for an investor who needs ready access to cash. Surrender charges apply for up to eight years after your last premium payment. They will reduce the value of your policy if you withdraw money during that time. Withdrawals could substantially reduce or even terminate the benefits available under the policy. Withdrawals may also be subject to federal and state income taxes, and tax penalties if the withdrawal is made before the owner attains age 59½. The benefits of tax deferral and the policy's living benefit protections also mean the policy is better for investors with a long time horizon.

**Policy Benefits Risk.** Certain benefits under the policy are contingent on several conditions being met. If those conditions are not met you may not realize a benefit from the policy or the optional benefits for which you have been charged a fee. For example:

&nbsp;&nbsp;&nbsp;&nbsp;● You may need to take withdrawals which have the potential to substantially reduce or terminate the Standard Death Benefit available under the policy. Withdrawals could reduce the value of the Standard Death Benefit by more than the dollar amount of the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;● The investment protection riders (IPP, IPP II, GIPR and GIPR 2.0) require that you hold the policy for a certain number of years (the Holding Period). If you surrender your policy before the Holding Period is over, you will not receive a benefit under the rider. If you take withdrawals during the Holding Period, the benefit provided by your particular investment protection rider will be reduced proportionally by any such withdrawals. If your Accumulation Value is less than amount guaranteed by your investment protection rider at the time the withdrawal is requested, the reduction in your guaranteed amount will be greater than the dollar amount withdrawn. Accordingly, under certain circumstances, a withdrawal could reduce the value of the benefit by more than the dollar amount of the withdrawal. In addition, you will only be allowed to allocate your premium payments to certain Allocation Options, or you will be limited in the amount you can allocate to the Investment Divisions (based on certain thresholds for Asset Allocation Categories). If you cancel your investment protection rider, you will be assessed a cancellation charge, which could significantly increase your costs under the policy.

&nbsp;&nbsp;&nbsp;&nbsp;● The Living Needs Benefit and Unemployment Riders only provide a benefit after the policy has been in force for at least one year and only if a Qualifying Event occurs. They require a minimum Accumulation Value of $5,000.

&nbsp;&nbsp;&nbsp;&nbsp;● The Annual Death Benefit Reset Rider only provides a benefit if your policy value increases over time. In addition, withdrawals will reduce the value of the benefits in proportion to the amount of the withdrawal relative to the total policy value at the time of the withdrawal. Accordingly, under certain circumstances, a withdrawal could reduce the value of the ADBR benefit by more than the dollar amount of the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;● The Enhanced Beneficiary Benefit Rider only provides a benefit if your policy's Accumulation Value exceeds your Adjusted Premium Payments. In addition, withdrawals will reduce the value of the benefits in proportion to the amount of the withdrawal relative to the total policy value at the time of the withdrawal. Accordingly, under certain circumstances, a withdrawal could reduce the value of the EBB benefit by more than the dollar amount of the withdrawal.

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**Alternatives to the Policy.** Other policies or investments may provide more favorable returns or benefits than the policy.

**Policy Changes and Investment Restrictions Risk.** There are restrictions that may limit the investments that you may choose if you choose one of the investment protection riders. Amounts invested in accordance with those restrictions may earn a return that is less than the return you might have earned on those amounts in other Investment Divisions had you not been subject to any investment restrictions. If you have selected one of the investment preservation riders, we may change the permitted Investment Divisions that you may choose.

We reserve the right to limit transfers, and we reserve the right to charge $30 for each transfer when you transfer money to or from the Investment Divisions and the Fixed Account more than 12 times in a Policy Year. We also reserve the right to terminate certain policy features such as dollar cost averaging, Automatic Asset Reallocation, Asset Allocation Models and Interest Sweep.

We may impose limits on the minimum and maximum amounts that you may invest in the policy or other transaction limits that may limit your use of the policy.

In addition, we reserve the right to remove Investment Divisions or substitute Portfolios as investment options that are available under the policy.

**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, which we apply to all owners of the policy without exception. (See "THE POLICIES–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

&nbsp;&nbsp;&nbsp;&nbsp;● Dilution of the interests of long–term investors.

A 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 "THE POLICIES–Limits on Transfers" for more information on the risks of frequent trading.)

**Change in Fees and Charges Risk.** Deduction of policy fees and charges (including surrender charges), and optional benefit fees, may result in loss of principal. We reserve the right to increase the fees and charges under the policy and optional benefits up to the maximum guaranteed fees and charges stated on your Policy Data Page.

The amount of premium–based M&E Charges assessed to your policy will be unaffected by fluctuations in market performance. In a rising market, the premium–based M&E Charge structure will benefit the policyowner because the premium–based M&E Charge, when calculated as a percentage of separate account assets, will be reduced. In a flat or declining market, the premium–based M&E Charge structure will result in an increase in the charge when calculated against separate account assets. The amount of Accumulation Value–based M&E Charges assessed to your policy will be affected by fluctuations in market performance. However, the Accumulation Value–based M&E Charge structure may be more advantageous in a flat or declining market and disadvantageous in a rising market.

**Change in Rates Risk.** The rate we declare for the Fixed Account may be lower than you would find acceptable.The crediting rate that we declare for the DCA Advantage Account may be lower than what you would find acceptable.

**Adverse Tax Consequences.** There are a number of tax risks that may arise in connection with purchasing the policy. These risks include: (1) the possibility that the Internal Revenue Service ("IRS") may interpret the rules that apply to variable annuities 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 an annuity for federal tax purposes resulting in the loss of favorable tax treatment accorded your policy; and (3) the possibility of a change in the present federal income tax laws that apply to your policy, or of the

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current interpretations by the IRS, which may change from time to time without notice, and could have retroactive effects regardless of the date of enactment or publication, as the case may be.

**Insurance Company Risks.** Any obligations (including those of the Fixed Account), guarantees, and benefits of the policy are subject to the claims–paying ability of NYLIAC. If NYLIAC experiences financial distress, it may not be able to meet its obligations to you. More information about NYLIAC is available upon request from NYLIAC by calling the VPSC at 1-800-598-2019.

**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 the SAI "ADDITIONAL INFORMATION ABOUT RISKS (Non-Principal Risk)" for more information.)

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**Contacting NYLIAC**

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***Where do I send written service requests?*** 

Certain service requests, including but not limited to death benefit claims and surrenders, are required to be in writing.

All written service requests (except for subsequent premium payments and loan repayments) must be sent to the NYLIAC Variable Products Service Center ("VPSC") at one of the following addresses:

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| | | |
|:---|:---|:---|
|  | **Regular Mail** | **Express Mail** |
|  | NYLIAC Variable Products Service Center<br> Madison Square Station<br> P.O. Box 922<br> New York, NY 10159<br>| &nbsp;&nbsp; NYLIAC Variable Products Service Center<br> 51 Madison Avenue<br> Floor 3B, Room 0304<br> New York, NY 10010<br>|
| **Death Claim forms may** <br> **also be submitted to** | **Regular Mail** |  |
| **Death Claim forms may** <br> **also be submitted to** | New York Life<br> P.O. Box 130539<br> Dallas, TX 75313–0539<br>|  |

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Subsequent premium payments and loan repayments should be sent to the VPSC at one of the following addresses **(acceptance of subsequent premium payments is subject to our Sales Standards):** 

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| | | |
|:---|:---|:---|
|  | **Regular Mail** | **Express Mail** |
| **Subsequent Premium** <br> **Payments and loan** <br> **repayments**<br>| NYLIAC<br> 75 Remittance Drive<br> Suite 3021<br> Chicago, IL 60675–3021<br>| &nbsp;&nbsp; NYLIAC<br> 5450 N Cumberland Avenue<br> Suite 100<br> Chicago, IL 60656-1422<br>|

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Written service requests will be effective as of the Business Day they are received in Good Order at the VPSC at one of the addresses listed above.

Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion. All service requests must be in Good Order. Please review all service request forms carefully and provide all required information that is applicable to the transaction. If your request is not in Good Order, we will not process it. We will make every reasonable attempt to notify you in writing of this situation. It is important that you inform NYLIAC of an address change so that you can receive important policy statements and other information.

***How do I contact NYLIAC or Submit Service Requests by Telephone or Online?*** 

&nbsp;&nbsp;&nbsp;&nbsp;***a. By Telephone:*** 

Certain service requests, including but not limited to obtaining current unit values may be made by telephone. You may reach our customer service representatives at 1-800-598-2019 on Business Days between the hours of 9:00 a.m. and 6:00 p.m. (Eastern Time).

&nbsp;&nbsp;&nbsp;&nbsp;***b. Online:*** 

Certain service requests, including but not limited to, transferring assets between Allocation Options and e-mailing the Registered Representative, may be made online. For online requests please visit www.newyorklife.com or the New York Life Mobile Application ("mobile application" or "mobile app"), available for download on the Apple App Store and Google Play Store, and enter your username and password. (See "THE POLICIES—Online Service at www.newyorklife.com and through the New York Life Mobile Application").

We make online services available at our discretion. In addition, availability of online services may be interrupted temporarily at certain times. We do not assume responsibility for any loss if the online service should become

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unavailable. E-mail inquiries that are non-transactional may be sent through www.newyorklife.com or the mobile application once they have passed all security protocols to identify the policyowner.

NYLIAC is not liable for any loss, cost or expense for action on instructions from authorized third parties which are believed to be genuine in accordance with our procedures. (See "THE POLICIES*—*Third Party and Registered Representative Actions"). You are responsible for and bear the consequence of their instructions and other actions, including exceeding any limits on transfers, taken by parties acting on your behalf. Transfer requests received after the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time, or received on a non-Business Day, will be priced as of the next Business Day.

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**NYLIAC And The Separate Accounts**

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***New York Life Insurance and Annuity Corporation***

The obligations under the policies (including Fixed Account and DCA Advantage Account obligations, death benefits, living benefits, or other benefits available under the policy) are obligations of NYLIAC and are subject to NYLIAC's claims-paying ability and financial strength. NYLIAC's business address is 51 Madison Avenue, New York, NY 10010.

***The Separate Accounts***

Separate Account III and Separate Account IV are segregated asset accounts we established to receive and invest premium payments paid under the policies and allocated to the Investment Divisions. The Investment Divisions, in turn, purchase shares of Portfolios.

Although the assets of the Separate Accounts belong to NYLIAC, these assets are held separately from our other assets. The Separate Accounts' assets may not be used to pay any liabilities of NYLIAC (except to the extent that assets in the Separate Accounts exceed the reserves and other liabilities of that Separate Account). The income, capital gains, and capital losses credited to, or charged against the Separate Accounts reflect the Separate Account's own investment experience and not the investment experience of NYLIAC's other assets. Therefore, the investment performance of the Separate Accounts is entirely independent of the investment performance of the Fixed Account, the DCA Advantage Account and any other separate account of NYLIAC.

NYLIAC is obligated to pay all amounts promised to investors under the policies.

Separate Account III and Separate Account IV are each divided into Investment Divisions, some of which may not be available under your policy. Premium payments allocated to the Investment Divisions are invested solely in the corresponding Portfolios of the relevant Fund. The Portfolios in which the Investment Divisions currently invest are listed in **APPENDIX 2A** of this Prospectus.

***The Portfolios***

The assets of each Portfolio are separate from the others, and each Portfolio has different investment objectives and policies. As a result, each 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. Accumulation Value allocated to the Investment Divisions (including the Asset Allocation) will vary based on the investment experience of the corresponding Portfolio in which the Investment Division invests. There is a risk of loss of the entire amount invested. 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.

**We offer no assurance that any of the Portfolios will attain their respective stated objectives.** 

The Portfolios also may make their shares available to certain other separate accounts funding variable life insurance policies offered by NYLIAC. This is called "mixed funding." The Portfolios also may make their shares available to separate accounts of insurance companies unaffiliated with NYLIAC. This is called "shared funding." Although we do not anticipate any inherent difficulties arising from mixed and shared funding, it is theoretically possible that, due to differences in tax treatment or other considerations, the interests of owners of various policies participating in a certain Portfolio might at some time be in conflict. In the event that any material conflicts arise from the use of the Portfolios for mixed and shared funding, we could be required to withdraw from a Portfolio. For more information about the risks of mixed and shared funding, please refer to the relevant Portfolio prospectus.

The 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 manages the NYLIM VP Funds Trust and that was a factor in its selection. Another factor that NYLIAC considers during the selection process is whether the Portfolio or an affiliate of the Fund will compensate NYLIAC for providing administrative, marketing, and support services that would otherwise be provided by the Portfolio, the Portfolio's investment adviser, or its distributor.

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We may receive payments or compensation from the Portfolios or their investment advisers, or from other service providers of the Portfolios (who may be affiliates of NYLIAC) in connection with administration, distribution, and other services we provide with respect to the Portfolios and their availability through the policies. These payments may be derived, in whole or in part, from the advisory fee charged by the Portfolio and deducted from Portfolio assets and/or from "Rule 12b-1" fees charged by the Portfolio and deducted from Portfolio assets. These payments are also a factor in our selection of 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 Portfolios. Policyowners, through their indirect investment in the Portfolios, bear the costs of these fees.

The amounts we receive may be substantial, may vary by Portfolio, and may depend on how much policy value is invested in the particular 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 Portfolios held by the Investment Divisions. We also receive compensation under various 12b-1 distribution services arrangements in amounts up to 0.25% annually of the aggregate net asset value of the shares of some of the 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 ("New York Life"), 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.

The Portfolios, along with their respective name, type (e.g., large cap equity fund, bond fund, asset allocation fund), investment adviser (and any sub-adviser(s)), current expenses, and performance are listed in **APPENDIX 2A**. More detailed information about the Portfolios is available in the prospectuses for the Portfolios, which may be amended from time to time and can be found online at https://dfinview.com/NewYorkLife/TAHD/premierplus. You can also request this information at no cost by contacting your Registered Representative, calling the VPSC at 1-800-598-2019 or by sending an email with your name and mailing address to PremierPlusProspectus@newyorklife.com. You should read the Portfolios' prospectuses before deciding how to allocate premium payments to an Investment Division corresponding to a Portfolio.

***Asset Allocation Models***

The Asset Allocation Model program was discontinued as of May 1, 2020. As of May 1, 2020, you may not select an Asset Allocation Model or transfer from one Asset Allocation Model to another Asset Allocation Model. If any portion of your Accumulation Value is currently allocated to an Asset Allocation Model, you may continue to allocate all or a portion of your premium payments to such model. We will not reallocate your Accumulation Value or change your premium allocation instructions in response to these changes unless you direct us to do so. If, however, you transfer your entire allocation out of an Asset Allocation Model, you will not be able to transfer back into that model or transfer to any other Asset Allocation Model.

***Information for Policyowners Currently Allocated to an Asset Allocation Model***

Each Asset Allocation Model was designed to seek to achieve a different investment objective. The Asset Allocation Models are general in nature and are not tailored or personalized for you. The Asset Allocation Models are static but gains and/or losses from the Portfolios in a model will cause the model's original percentages to shift. However, amounts allocated to a model will be rebalanced to reflect the model's original percentages using the policy's Automatic Asset Reallocation ("AAR") feature, unless you opted not to have AAR applied to your policy. (See "DESCRIPTION OF BENEFITS*—*Automatic Asset Reallocation" for more information.) If you purchased the Guaranteed Investment Protection Rider or the Guaranteed Investment Protection Rider 2.0 ("GIPR" or "GIPR 2.0"), and have opted to allocate your premium payments to one of the available Asset Allocation Models, you cannot opt out of rebalancing, and your allocations to an Asset Allocation Model will be rebalanced quarterly to reflect the model's original percentages.

In addition, the Investment Divisions and allocation percentages for your model could change due to events such as mergers, substitutions, liquidations or closures. We will notify you in writing of any such events and seek your instructions on how you want your Accumulation Value or premium payments reallocated.

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If you wish to keep your policy's Accumulation Value allocated to an Asset Allocation Model, you should consult with your registered representative, who can help you evaluate whether it continues to be suitable and appropriate for you in light of your financial situation, risk tolerance, time horizon and investment objectives. While the Asset Allocation Models can facilitate asset allocation discussions and decisions between you and your registered representative, we have no discretionary authority or control over your investment decisions.

Reallocation can cause the Investment Divisions that make up a model to need to undertake efforts to raise cash for money flowing out of the Portfolios or vice versa. In order to raise cash, those Portfolios may need to sell assets at prices lower than otherwise expected, which can hurt Portfolio share prices. Moreover, large outflows of money from the Portfolios may increase the expenses attributable to the assets remaining in the Portfolios. These transactions and expenses can adversely affect the performance of the relevant Portfolios and of the Asset Allocation Models. In addition, these inflows and outflows may cause a Portfolio to hold a large portion of its assets in cash, which could detract from the achievement of the Portfolio's investment objective, particularly in periods of rising market prices. For additional information regarding the risks of investing in a particular Portfolio, see that Portfolio's prospectus.

Asset allocation does not guarantee that your Accumulation Value will increase or protect against losses in a declining market. Tools used to assess your risk tolerance, such as the Client Profile, could be less effective if your circumstances change over time. In addition, an Asset Allocation Model may not perform as intended. Therefore, it may not achieve its investment objective or reduce volatility. When considering whether to remain in an Asset Allocation Model, you should consider your other assets, income and investments in addition to this policy. An Asset Allocation Model may perform better or worse than any single investment option or any other combination of investment options. In addition, the timing of your investment and any rebalancing may affect performance. For additional information regarding the risks of investing in a particular Portfolio within the Asset Allocation Model, see that Portfolio's prospectus.

***Conflicts of Interest Relating to the Asset Allocation Models***

The Asset Allocation Models were designed in 2018 on our behalf by an unaffiliated third-party investment adviser, Franklin Templeton Fund Adviser, LLC ("FTFA"), an indirect, wholly-owned subsidiary of Franklin Resources, Inc. ("Franklin Resources"). FTFA's affiliated subadviser, Franklin Advisers, Inc. (successor by merger to QS Investors, LLC ("QS")), selected the initial composition of each Model Portfolio. The models are referred to herein as the "QS Models." The QS Models are no longer available for new investment. Earlier versions of the models were designed by New York Life Investment Management LLC, an affiliate of NYLIAC and the Investment Advisor to the NYLIM VP Funds Trust (the "NYL Models"). You can get information about each of the Asset Allocation Models by contacting your registered representative.

QS received a fee from NYLIAC to design the QS Models. While the QS Models were designed to offer you a convenient way to work with your registered representative in making allocation decisions, you should be aware that QS was subject to competing interests that may have influenced its design of the QS Models. For example, because QS and FTFA were affiliated with the LVIP ClearBridge Appreciation Fund, QS and FTFA may have benefited from including the LVIP ClearBridge Appreciation Fund in one or more of the QS Models. Payments from NYLIAC to FTFA and QS to design the QS Models may have also influenced QS in its selection of Investment Divisions affiliated with NYLIAC for inclusion in the models. QS considered many factors in selecting Investment Divisions for the QS Models, including, but not limited to, risk and return profile, prior investment performance and underlying fund fees.

New York Life Investment Management LLC ("New York Life Investments") was also subject to competing interests that impacted the composition of the QS Models as well as its design of the NYL Models. For example, because New York Life Investments receives fees for advising the NYLIM VP Funds Trust, it benefits from the inclusion of a significant percentage of these Investment Divisions in the QS Models and NYL Models. NYLIM VP Investment Divisions represent such a significant percentage of the QS Models and the NYL Models because they constitute the majority of Investment Divisions offered with the policy and are prevalent among the low – and moderate – risk Investment Divisions that make up those models.

In addition, New York Life Investments may not have included certain non-proprietary Investment Divisions in the NYL Models because their investment profile (e.g., sector-specific concentration or shifting asset composition) was determined to be incompatible with the risk and return profile of those models. Finally, New York Life Investments may have included Investment Divisions in a NYL Model based on asset class exposure and they may have also been selected over Investment Divisions with better past investment performance or lower fees.

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As noted above, we receive payments or compensation from the Portfolios or their Investment Advisers, or from other service providers of the Portfolios (who may be affiliates of NYLIAC) in connection with administration, distribution and other services that we provide with respect to the Portfolios and their availability through the policies. The amount of this revenue and how it is computed varies by Portfolio, may be significant, and may create conflicts of interest in the design of the QS Models and the NYL Models.

NYLIAC does not provide investment advice and does not recommend or endorse any Portfolios. NYLIAC is not responsible for choosing the Investment Divisions or the amounts allocated to each. 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.

Certain portfolios, generally referred to as "funds of funds" or "master-feeder arrangements," may invest all or substantially all their assets in portfolios of other funds. In such case, you will indirectly pay fees and expenses at both portfolio 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 cost 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.

Investment decisions should be based on a thorough investigation of all the information regarding the Portfolios that are available to you, including each Portfolio's prospectus, statement of additional information, and annual and semi-annual reports. Other sources, such as the Portfolio's website, provide more current information, including information about any regulatory actions or investigations relating to a Fund or Portfolio. After you select Portfolios for your initial premium, you should monitor and periodically re-evaluate your allocations to determine if they are still appropriate.

***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 can impose these fees, but government money market funds (that invest at least 99.5% of their assets in cash, U.S. government securities and/or repurchase agreements that are secured by cash or 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, surrenders, withdrawals and benefit payments from the portfolio.

***The Franklin Templeton Model Portfolios – Conflicts of Interest***

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"). FTFA, an indirect wholly-owned subsidiary of Franklin Resources, Inc., created the Model Portfolios for the exclusive use of NYLIAC's variable annuity and variable life insurance policyowners. 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.

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The Underlying Funds available to the Model Portfolios for investment are comprised primarily of the initial class or similar shares of the Portfolios available under your policy (except for (i) Portfolios that are themselves, funds of funds, and (ii) Portfolios that did not agree to sell their shares to the Model Portfolios). However, the Model Portfolios may also invest in noninsurance-dedicated mutual funds and ETFs.

FTFA's affiliated subadviser, Franklin Advisers, Inc. ("Franklin Advisers"), selected the initial composition of each Model Portfolio. Thereafter, Franklin Advisers manages 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 Portfolios available under your policy, the composition of the Underlying Funds available to the Model Portfolios for investment will likewise change. FTFA and Franklin Advisers 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 Franklin Advisers. 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 Franklin Advisers, Franklin Distributors, LLC ("Franklin Distributors"), 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 from Franklin Distributors, 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 Portfolios held directly by the NYLIAC Separate Accounts. (See "NYLIAC AND THE SEPARATE ACCOUNTS*—*The Portfolios" for more information about these payments).

The payments described above are a factor in our selection of the Portfolios, which in turn, are available to the Model Portfolios for investment. Policyowners, through their direct investment in the Model Portfolios and their indirect investment in the Underlying Funds, bear the costs of these fees. However, only FTFA and Franklin Advisers will determine the portion of the Model Portfolios' assets, if any, that are invested in particular Underlying Funds. FTFA and Franklin Advisers 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 unaffiliated Underlying Funds and NYLIAC.

FTFA and Franklin Advisers are also subject to competing interests that may influence their investment decisions with respect to the Model Portfolios. For example, FTFA is the investment manager for both the Model Portfolios and certain of the available Underlying Funds, and receives a management fee from those funds. FTFA and Franklin Advisers, 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 Underlying Fund, may be significant, and may create conflicts of interest in the selection of the Portfolios that are available to the Model Portfolios for investment.

***Additions, Deletions, or Substitutions of Investments***

NYLIAC retains the right, subject to any applicable law (including any required regulatory approval), to make additions to, deletions from, or substitutions for the Portfolio shares held by any Investment Division. NYLIAC reserves the right to eliminate the shares of any of the Portfolios and to substitute shares of another portfolio of a Fund, or of another registered open-end management investment company.

To the extent required by law, we will not make substitutions of shares attributable to your interest in an Investment Division until you have been notified of the change. This does not prevent the Separate Account from purchasing

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other securities for other series or classes of policies, or from processing a conversion between series or classes of policies on the basis of requests made by policyowners.

We may establish new Investment Divisions when we determine, in our sole discretion, that marketing, tax, investment, or other conditions so warrant. We will make any new Investment Divisions available to existing policyowners on a basis we determine. We may also eliminate one or more Investment Divisions, if we determine, in our sole discretion, that marketing, tax, investment, or other conditions warrant. Please note that any such changes could affect the performance of your investments.

In the event of any substitution or change in Investment Divisions, NYLIAC may, by appropriate endorsement, change the policies to reflect such substitution or change. We also reserve the right to: (a) operate the Separate Account as a management company under the Investment Company Act of 1940, (b) deregister it under such Act in the event such registration is no longer required, (c) combine it with one or more other separate accounts, and (d) restrict or eliminate the voting rights of persons having voting rights as to the Separate Account as permitted by law.

***Reinvestment***

We automatically reinvest all dividends and capital gain distributions from Portfolios in shares of the distributing Portfolio at their net asset value on the payable date.

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**The Policies**

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This is a flexible premium policy, which means additional premium payments can be made. The policy is issued on the lives of individual Annuitants. For single premium policies, this section is modified as indicated in APPENDIX 1 of this Prospectus.

The policies are variable. This means that the Accumulation Value will fluctuate based on the investment experience of the Investment Divisions or available Asset Allocation Model you select, as well as the interest credited on the Fixed Account Accumulation Value and the DCA Advantage Account Accumulation Value. NYLIAC does not guarantee the investment performance of the Separate Account or of the Portfolios. You bear the entire investment risk with respect to amounts allocated to the Investment Divisions of the Separate Account or an Asset Allocation Model. We offer no assurance that the investment objectives of the Investment Divisions or an Asset Allocation Model will be achieved. Accordingly, amounts allocated to the Investment Divisions of the Separate Account or an Asset Allocation Model are subject to the risks inherent in the securities markets and, specifically, to price fluctuations in the Portfolios' investments.

As the Owner of the policy, you have the right to (a) change a revocable Beneficiary, (b) name a new Owner (on Non-Qualified Policies only), (c) receive Income Payments, (d) name a Payee to receive Income Payments, and (e) transfer funds among the Investment Divisions. You cannot lose these rights. However, all rights of ownership cease upon your death. (Ownership changes are not permitted for Inherited IRA policies).

The current policyowner of a Non-Qualified Policy has the right to transfer ownership to another person(s) or entity. To transfer ownership, the policyowner must complete our approved "Transfer of Ownership" form in effect at the time of the request. This change, unless otherwise specified by you, will take effect as of the date you signed the form, subject to any payment we made or action we took before we received the form in Good Order. When this change takes effect, all rights of ownership in the Policy will pass to the new Owner. Changing the Owner of the Policy does not change an Annuitant or any Beneficiary. Federal law requires all financial institutions to obtain, verify, and record information that identifies each person or entity that becomes the owner of an existing policy. This means the new policyowner(s) will be required to provide their name, address, date of birth, and other identifying information. To complete a transfer of ownership, the new policyowner(s) may also be required to submit financial and suitability information to conform to our Sales Standards.

Certain provisions of the policies may be different than the general description in this Prospectus, and certain riders and options may not be available, because of legal requirements or restrictions in your state. See your policy for specific variations because any such state variations will be included in your policy or in riders or endorsements attached to your policy. See also "APPENDIX 3 – State Variations" for specific information that may be applicable for your state.

***Selecting the Variable Annuity That's Right for You***

In addition to the policies described in this Prospectus, we offer other variable annuities, each having different features, fees, and charges. Your registered representative can help you decide which is best for you based on your individual circumstances, time horizon, and policy feature preferences.

The availability of optional policy features may increase the cost of the policy. Therefore, when selecting a policy, you should consider what policy features you plan to use within your variable annuity. You should also consider the different surrender charge period associated with each policy in light of the length of time you plan to hold your policy (i.e., your time horizon). If you intend to make multiple contributions to your policy over time, you may want to consider a surrender charge period that is based on the Policy Date. If you intend to make a single contribution or limited contributions over time, you may want to consider a policy with a surrender charge period that is based on each premium payment. In addition to the surrender charges, you should also evaluate the available policy features and the different fees associated with each of the features and of the policy.

If you are considering exchanging an annuity or life insurance policy that you already own for a policy described in this Prospectus, you should be aware that your registered representative could have a financial incentive to offer you a new policy in place of the one you own. NYLIAC has procedures in place designed to ensure that the purchase of a policy is in your best interest. You should only exchange your policy if you determine, after comparing the features,

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fees, risks of both policies, and any fees or penalties to terminate the existing policy, that it is better for you to purchase the new policy rather than continue to own your existing policy.

You should consider the investment objectives, risks, charges and expenses of an investment carefully before investing. Both the product and underlying fund prospectuses contain this and other information about the variable annuities and underlying investment options. Your registered representative can provide you with prospectuses for one or more of these variable annuities and the underlying funds. Please read the prospectuses carefully before investing.

***Qualified and Non-Qualified Policies***

We designed the policies primarily for the accumulation of retirement savings, and to provide income at a future date by annuitizing the policy. We issue both Qualified and Non-Qualified Policies. Both types of policies offer tax-deferred accumulation. You may purchase a Non-Qualified Policy to provide for retirement income other than through a tax-qualified plan. You may purchase a Qualified Policy for use with any one of the tax-qualified plans listed below.

&nbsp;&nbsp;&nbsp;&nbsp;(1) TSAs purchased by employees of certain tax-exempt organizations and certain state-supported educational institutions, in each case in accordance with the employer's plan document and/or applicable tax requirements (see "FEDERAL TAX MATTERS—Qualified Policies—Important Information Regarding Final Code Section 403(b) Regulations"). We are no longer accepting contributions for policies issued in connection with ERISA 403(b) plans;

&nbsp;&nbsp;&nbsp;&nbsp;(2) Section 408 or 408A Individual Retirement Annuities (IRAs), including: IRAs, Roth IRAs, Inherited IRAs, SEP, and SIMPLE IRAs.

Please see "FEDERAL TAX MATTERS" for a detailed description of these plans.

If you are considering the purchase of a Qualified Policy or a Non-Qualified Policy to fund another type of tax-qualified retirement plan, such as a plan qualifying under Section 401(a) of the Code, you should be aware that this policy will fund a retirement plan that already provides tax deferral under the Code and there are fees and charges in an annuity that may not be included in other types of investments. Therefore, the tax deferral of the annuity does not provide additional benefits. However, this annuity is designed to provide certain payment guarantees and features other than tax deferral, some of which may not be available in other investments. These additional features and benefits include:

&nbsp;&nbsp;&nbsp;&nbsp;• A Standard Death Benefit, as explained in this Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;• The option for you to receive a guaranteed stream of Income Payments for life after you have owned the policy for one year.

&nbsp;&nbsp;&nbsp;&nbsp;• A Fixed Account (if available) that features a guaranteed fixed interest rate.

&nbsp;&nbsp;&nbsp;&nbsp;• An optional Interest Sweep feature that automatically transfers interest earned on monies in the Fixed Account to Investment Divisions offered under the policy.

&nbsp;&nbsp;&nbsp;&nbsp;• The flexibility to easily transfer money among Investment Divisions in the annuity managed by different investment managers and to have your investment mix automatically rebalanced periodically.

These features are explained in detail in this Prospectus. You should purchase this annuity with tax-qualified money because of the additional features the annuity provides and not for the tax deferral to which the tax-qualified plan is already entitled. You should consult with your tax or legal adviser to determine if the policy is suitable for your tax-qualified plan.

***Policy Application and Premium Payments***

We have discontinued sales of new policies, but we still accept new premium payments for in-force policies.

You may allocate premium payments in up to 18 of the Investment Divisions, some of which may not be available under your policy, as well as the DCA Advantage Account and the Fixed Account (if available). If in Good Order, we will credit subsequent premium payments to the policy at the close of the Business Day on which they are received by NYLIAC. You may increase or decrease the percentages of the premium payments (which must be in whole

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percentages) allocated to each Allocation Option or the DCA Advantage Account at the time a premium payment is made. You make additional premium payments of at least $2,500 for Qualified Policies and $5,000 for Non-Qualified Policies, or such lower amount as we may permit at any time. Subsequent premium payments must be sent to NYLIAC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. We may agree to other methods of payment.

Additional premium payments can be made until 12 months after you or the Annuitant reach(es) age 75. The currently available methods of payment are direct payments to NYLIAC or any other method agreed to by us. The maximum aggregate amount of premium payments we accept is $2,000,000 without prior approval from NYLIAC. NYLIAC reserves the right to limit the dollar amount of any premium payment. You must allocate a minimum of $5,000 to the DCA Advantage Account. We will apply any premium payments according to the allocation instructions we have on file at the time of the premium payment.

For Qualified Policies, you may not make premium payments in any Policy Year that exceed the amount permitted by the plan or applicable law. For Inherited IRAs, additional premium payments are not permitted.

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

***Accumulation (Savings) Phase***

*Crediting of Premium Payments*

You can allocate a portion of each premium payment to one or more Investment Divisions, one Asset Allocation Model (if you are already allocated to such Model), the DCA Advantage Account, and/or the Fixed Account (if available). The minimum amount that you may allocate to any one Investment Division or the Fixed Account is $25. The minimum amount that you can allocate to an available Asset Allocation Model is $25 per Investment Division. You may also allocate all or a portion of each premium payment to the DCA Advantage Account. The minimum amount that you may allocate to the DCA Advantage Account is $5,000. If you select the DCA Advantage Account, any additional premium payment you make that is $5,000 or more will be allocated automatically to the DCA Advantage Account unless you instruct us otherwise. Any additional premium payment you make that is less than $5,000 will be allocated directly to your Allocation Options in accordance with the instructions we have on file and will not be allocated to the DCA Advantage Account. (See "THE DCA ADVANTAGE ACCOUNT.") We will allocate additional premium payments to the Allocation Options and/or the DCA Advantage Account at the close of the Business Day on which they are received by NYLIAC in Good Order. We will apply Premium Credits and any Breakpoint Credits to the same Allocation Options and/or the DCA Advantage Account based on the same percentages used to allocate your premium payments.

We will credit that portion of each premium payment that you allocate (and any Premium Credit or Breakpoint Credits thereon) to an Investment Division (or to each of the Investment Divisions that make up an Asset Allocation Model), including from a premium payment or transfer, in the form of Accumulation Units. We cancel such Accumulation Units when we remove amounts from that Investment Division, including as a result of a withdrawal, transfer, policy surrender, and certain charges we may deduct. We determine the number of Accumulation Units we credit to a policy or cancel by dividing the dollar amount allocated to or removed from each Investment Division by the Accumulation Unit value for that Investment Division as of the close of the Business Day as of which we are making the credit or removal. The value of an Accumulation Unit will increase or decrease depending on the investment experience of the Portfolio in which the Investment Division invests (including Portfolio expenses), and the deduction of the Accumulation Value–based M&E Charge. We assess all policy and rider fees and charges applicable to Separate Account assets (other than Accumulation Value–based M&E Charges) by reducing the number of Accumulation Units credited to your policy. The number of Accumulation Units we credit to a policy will not, however, change as a result of any fluctuations in the value of an Accumulation Unit. (See "THE FIXED ACCOUNT" for a description of interest crediting.)

*Valuation of Accumulation Units*

The value of Accumulation Units in each Investment Division will change daily to reflect the investment experience of the corresponding Portfolio as well as the deduction of the Accumulation Value–based M&E Charge. The Statement of Additional Information contains a detailed description of how we determine the Accumulation Unit values.

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***Tax-Free Section 1035 Exchanges***

Subject to certain restrictions, you can make a tax-free exchange under Section 1035 of the Code of all or a portion of one annuity contract, or all of a life insurance policy for an annuity contract. Section 1035 also provides that an annuity contract may be exchanged in a tax-free transaction for a long-term care insurance policy. Before making an exchange, you should compare both contracts carefully. Remember that if you exchange a life insurance policy or annuity contract for the policy described in this Prospectus:

&nbsp;&nbsp;&nbsp;&nbsp;● you might have to pay a withdrawal charge on your previous policy or contract,

&nbsp;&nbsp;&nbsp;&nbsp;● there will be a new withdrawal charge period for this policy,

&nbsp;&nbsp;&nbsp;&nbsp;● other charges under this policy may be higher (or lower),

&nbsp;&nbsp;&nbsp;&nbsp;● the benefits may be different,

&nbsp;&nbsp;&nbsp;&nbsp;● you will no longer have access to any benefits from your previous policy (or the benefits may be different), and

&nbsp;&nbsp;&nbsp;&nbsp;● access to your cash value following a partial exchange may be subject to tax-related limitations.

If the exchange does not qualify for Section 1035 treatment, you also may have to pay federal income tax, including a 10% federal penalty tax, on the exchange. You should not exchange an existing life insurance policy or another annuity contract for this policy unless you determine that the exchange is in your best interest. NYLIAC may accept electronically transmitted instructions from your registered representative or from another insurance carrier for the purpose of effecting a 1035 exchange. **If you contemplate such an exchange, you should consult a tax advisor to discuss the potential tax effects of such a transaction.**

***Premium Credit***

We will apply a Premium Credit to your Accumulation Value at the time you make each premium payment. The Premium Credit is calculated as a percentage of each premium payment. The percentage will depend on the Premium Credit Rate schedule then in effect, and will never be less than 2.00%. The Premium Credit Rate applicable to a premium payment varies, depending on the total amount of premium payments received under the policy ("Total Accumulated Premiums"). Withdrawals will not reduce Total Accumulated Premiums. In addition, if we receive more than one premium payment within 180 days of the Policy Date, we will adjust the Premium Credits applied to such payments using the Premium Credit Rate applicable to the later payment(s) made during that period. We will apply any additional Premium Credit amounts resulting from such adjustments as of the date we receive the later premium payment (for single premium policies, "Premium Credit" is modified in APPENDIX 1 of this Prospectus).

As of the date of this Prospectus, the Premium Credit Rate schedule is as follows:

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| | |
|:---|:---|
| **<u>Total Accumulated Premiums</u>** | **<u>Credit Rate</u>** |
| $499,999 or less | 3.00% |
| $500,000 or greater\* | 4.00% |

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\*

Total Accumulated Premiums in excess of the amount set forth on the Policy Data Page are subject to prior approval. (See "THE POLICIES – Policy Application and Premium Payments.")

You may qualify for the 4% Premium Credit Rate even if your initial premium payment is less than $500,000, if you and up to four of your immediate family members purchase a New York Life Premier Plus Variable Annuity policy at the same time and the aggregate premium paid on all of the policies is at least $1,000,000. In order to aggregate premiums among immediate family members, you must, before purchasing the policy, inform your registered representative that you have policies that can be aggregated. NYLIAC reserves the right to reject any request for aggregation of policies.

With notice to you, in our sole discretion, we may change both the Premium Credit Rates and the Total Accumulated Premium ranges applicable to future premium payments under your policy. Subsequent premium payments will receive the Premium Credit Rate then in effect for the applicable range. In setting the Premium Credit Rates and associated ranges, NYLIAC will consider fixed and variable expenses incurred in policy issue, servicing

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and maintenance, the average length of time that policies issued remain in force along with the mortality experience of those policies, and NYLIAC's competitive position in the marketplace.

We will deduct the amount of the Premium Credit from the amount returned to you if you cancel your policy. (See "THE POLICIES – Your Right to Cancel ("Free Look").") We may also deduct from the death benefit proceeds any Premium Credit applied within the 12 months immediately preceding the date of death of the Owner. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement.")

Premium Credits are allocated to the same Allocation Options based on the same percentages used to allocate your premium payments. We do not consider Premium Credits to be premium payments for purposes of any discussion in this Prospectus. Premium Credits are also not considered to be your investment in the policy for tax purposes.

Fees and charges for a policy with a Premium Credit may be higher than those for other policies. For example, we use a portion of the surrender charge and Mortality and Expense Risk and Administrative Costs charge to help recover the cost of providing the Premium Credit under the policy. (See "THE POLICIES – Selecting the Variable Annuity That's Right for You.") Over time, the amount of the Premium Credit may be more than offset by those higher charges. We expect to make a profit from those charges.

There may be circumstances in which the purchase of a New York Life Premier Plus Variable Annuity is less advantageous than the purchase of another NYLIAC variable annuity which might have lower fees but no Premium Credit. This may be the case, for example, if you intend to make fewer and/or smaller premium payments into the policy, or if you anticipate retaining the policy for a significant time beyond the Surrender Charge Period. Under certain circumstances (such as a period of poor market performance), the fees and charges associated with the Premium Credit may exceed the sum of the Premium Credit and any related earnings. You should consider this possibility before purchasing the policy.

***Your Right to Cancel ("Free Look")***

The policies are no longer available for new sales. When you purchased your policy, you had the right to cancel the policy within 10 days of delivery of the policy or such longer period as required under state law. To cancel your policy, you would have had to return it and/or provide a written request for cancellation to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it. Unless otherwise required by state law, you will receive back your Accumulation Value, calculated as of the Business Day we receive your written request for cancellation in Good Order, less any Premium Credit(s), less any e-delivery credit, (see "THE POLICIES – Electronic Delivery"), but without any deduction for premium taxes or a surrender charge. This amount may be more or less than your premium payments depending upon the performance of the Allocation Options you have chosen to invest in during the Free Look period (including any interest credited by the Fixed Account, if applicable). This means that you bear the risk of any decline in the value of your policy due to investment performance during the Free Look period. In certain states, we are required to give you back your premium payments less any prior partial withdrawals. We will set forth the provision in your policy. See APPENDIX 3 — State Variations for more information about free look provisions in California, Florida, New York and North Dakota.

If you had been entitled to receive the total of premium payments less any prior withdrawals, but your Accumulation Value is higher than that amount as of the date your written request for cancellation is received in Good Order, we would return the Accumulation Value, calculated as set forth above and without deductions for premium taxes or surrender charges (but less any Premium Credit(s)).

***Issue Ages***

To purchase a Non-Qualified Policy, you must not be older than age 75 (oldest Owner, if the policy is jointly owned). We will accept additional premium payments until 12 months after you reach age 75. The Owner, or if the policy is owned by an entity, the Annuitant, must not be older than 75 (oldest Annuitant if the policy has joint Annuitants).

For IRA, Roth IRA, Inherited IRA, SIMPLE IRA, TSA and SEP plans, you must also be the Annuitant. We can issue Qualified Policies if you are between the ages of 18 and 75 (between 0-75 for Inherited IRAs). We will accept additional premium payments until 12 months after you reach age 75, unless otherwise limited by the terms of a particular plan.

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***Transfers***

You may transfer amounts among Investment Divisions of the Separate Account, an Asset Allocation Model if you are already allocated to such model, or to the Fixed Account any time prior to 30 days before the Annuity Commencement Date, although certain restrictions may apply with respect to transfers into the Fixed Account if you have chosen premium-based Base Contract charges. You may not make transfers into the DCA Advantage Account. If you transfer all of your Accumulation Value out of an Asset Allocation Model, you cannot transfer back into that Asset Allocation Model in the future. Transfers made from the DCA Advantage Account to the Investment Divisions are subject to different limitations (See "THE DCA ADVANTAGE ACCOUNT"). No transfers are allowed from the DCA Advantage Account to the Fixed Account. Except in connection with transfers made pursuant to traditional Dollar Cost Averaging, Automatic Asset Reallocation, Interest Sweep and the DCA Advantage Account, the minimum amount that you may transfer from one Investment Division to other Investment Divisions, an available Asset Allocation Model or to the Fixed Account is $500. Except for traditional Dollar Cost Averaging, Automatic Asset Reallocation, Interest Sweep and the DCA Advantage Account, if the value of the remaining Accumulation Units in an Investment Division would be less than $500 or the Fixed Account would be less than $25 after you make a transfer, we will transfer the entire value unless NYLIAC in its discretion determines otherwise. The amount(s) transferred to other Investment Divisions must be a minimum of $25 for each Investment Division.

Currently, we do not charge for transfers under the policy. However, we reserve the right to charge up to $30 for each transfer after the first 12 in a given Policy Year, subject to any applicable state insurance law requirements. Any transfer into or out of an available Asset Allocation Model counts as one transfer. Any transfer made in connection with traditional Dollar Cost Averaging, Automatic Asset Reallocation, Interest Sweep or the DCA Advantage Account will not count as a transfer toward the twelve-transfer limit. You may make transfers from the Fixed Account to the Investment Divisions in connection with Interest Sweep and in certain other situations. (See "THE FIXED ACCOUNT").

You can request a transfer by any of the three methods listed below. Transfer requests are subject to limitations and must be made in accordance with our established procedures. (See "THE POLICIES—Online Service at www.newyorklife.com and through the New York Life Mobile Application.").

&nbsp;&nbsp;&nbsp;&nbsp;● submit your request in writing on a form we approve to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this prospectus (or any other address we indicate to you in writing);

&nbsp;&nbsp;&nbsp;&nbsp;● speak to a Customer Service Representative at 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;● make your request through www.newyorklife.com or 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. NYLIAC is not liable for any loss, cost or expense for action based on telephone or electronic instructions which are believed to be genuine in accordance with these procedures. Transfer requests received after the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time or received on a non-Business Day, will be priced as of the next Business Day.

***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; or

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

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

Currently, if you or someone acting on your behalf requests by telephone and/or electronically transfers into or out of one or more Investment Divisions or an available Asset Allocation Model on three or more days within any 60-day period, we will send you a letter notifying you that the 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 or an Asset Allocation Model 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 in writing through the U.S. mail or an overnight courier and received by the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. 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 out of the NYLIM VP U.S. Government Money Market Investment Division within six months of the issuance of a policy, and transfers made pursuant to traditional Dollar Cost Averaging, the DCA Advantage Account, Interest Sweep, and Automatic Asset Reallocation.

**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 this 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 Portfolio. We will reject or reverse, without prior notice, any transfer request into an Investment Division if the purchase of shares in the corresponding Portfolio is not accepted by the Portfolio for any reason. For transfers into multiple Investment Divisions and/or an available Asset Allocation Model, the entire transfer request will be rejected or reversed if any part of it is not accepted by any one of the Portfolios or is restricted for any reason. Standing allocation instructions into a Portfolio 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 other 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 Portfolio. We will provide you with written notice of any transfer request we reject, reverse or modify. You should read the Portfolio prospectuses for more details regarding their ability to refuse or restrict purchases or redemptions of their shares. In addition, a Portfolio 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The underlying Portfolios may have adopted their own policies and procedures with respect to trading of their respective shares. The prospectuses for the underlying Portfolios, in effect at the time of any trade, describe any such policies and procedures. The trading policies and procedures of an underlying 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 in this prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The purchase and redemption orders received by the Portfolios reflect the aggregation and netting of multiple orders from owners of this policy and other variable policies issued by us. The nature of these

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combined orders may limit the underlying Portfolios' ability to apply their respective trading policies and procedures. In addition, if an underlying Portfolio believes that a combined order we submit may reflect one or more transfer requests from owners engaged in potentially harmful transfer activity, the underlying fund portfolio may reject the entire order and thereby prevent us from implementing any transfers that day. We do not generally expect this to happen. Alternatively, Portfolios may request information on individual policyowner transactions and may impose restrictions on individual policyowner transfer activity.

&nbsp;&nbsp;&nbsp;&nbsp;● Other insurance companies that invest in the 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 Investment Divisions correspond to the affected 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 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 a Portfolio to liquidate investments prematurely (or at an otherwise inopportune time) in order to pay withdrawals or transfers out of the 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 a Portfolio are made when, and if, the Portfolio's investments do not reflect an accurate value (sometimes referred to as "time-zone arbitrage" and "liquidity arbitrage").

***Speculative Investing***

Do not purchase the policy if you plan to use it, or any of its riders, for speculation, arbitrage, viatication or any other type of collective investment scheme. Your policy may not be traded on any stock exchange or secondary market. By purchasing the policy, you represent and warrant that you are not using the policy, or any of its riders, for speculation, arbitrage, viatication or any other type of collective investment scheme.

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

The online service at www.newyorklife.com or through 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 www.newyorklife.com or through the mobile application. Electronic delivery is not available for policies that are owned by corporations, trusts or organizations at this time.

Through www.newyorklife.com or the mobile application you can get up-to-date information about your policy and request fund transfers, allocation changes and partial withdrawals. Policies that are jointly owned may not request transactions through www.newyorklife.com or the mobile application. We may revoke online service for certain policyowners (see "THE POLICIES—Limits on Transfers").

In order to obtain policy information online at www.newyorklife.com or through the mobile application which is available for download on the Apple App Store and Google Play Store, you are required to register for access. You will be required to register a unique Username and Password to gain access

We will use reasonable procedures to make sure that the instructions we receive through www.newyorklife.com or 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 www.newyorklife.com or through the mobile application that we believe are genuine. We will confirm all transactions.

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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, online service at www.newyorklife.com or through the mobile application is open Monday through Friday, from 6 a.m. until 4 a.m., Saturday, from 6 a.m. until 2 a.m. and Sunday from 7 a.m. until 1 a.m. (Eastern Time).

By logging in at www.newyorklife.com or through the mobile application, you can conduct a number of transactions. These include managing your allocations, viewing details about your policy, changing your address, submitting policy transactions, uploading documents and forms, and downloading statements and other correspondence. You can see all of the transactions which can be conducted online or through the mobile application by logging in at www.newyorklife.com or through the mobile application.

We make the online service at www.newyorklife.com and through the mobile application available at our discretion. In addition, availability of online service may temporarily be interrupted at certain times. We do not assume responsibility for any loss while online service at www.newyorklife.com or through the mobile application is unavailable. If you are experiencing problems, you can send service requests to us at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

***Telephone Transactions***

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.

Currently, you can reach our customer service representatives at 1-800-598-2019 on Business Days between the hours of 9:00 a.m. and 6:00 p.m. (Eastern Time).

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 and/or by using our Interactive Voice Response (IVR) system:

&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 stop and reissue check on an outgoing payment;

&nbsp;&nbsp;&nbsp;&nbsp;● set up one-time electronic funds transfer for incoming payments;

&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 in the "CONTACTING NYLIAC" section of the prospectus.

***Third Party and Registered Representative Actions***

You may authorize a third party, including a joint policyowner, to have access to your policy information and to independently make transfers among Investment Divisions and/or the Fixed Account, allocation changes and other

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permitted transactions by telephone. To do so, you must send the VPSC a Telephone Authorization Form in Good Order to one of the addresses noted in the "CONTACTING NYLIAC" section of this Prospectus. We 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. See "THE POLICIES—Transfers" for information on how to transfer assets between Investment Divisions and/or an available Asset Allocation Model.

You may authorize us to accept electronic instructions from a registered representative or a registered service assistant assigned to your policy in order to make premium allocation updates, transfers among investment options, Automatic Asset Reallocation (AAR), partial withdrawals and changes to your investment objective and/or risk tolerance. (Your AAR may be cancelled if a premium allocation change or fund transfer is submitted on your behalf and the AAR is not also modified at that time to be consistent with your investment option transfer and premium allocation changes). You may also authorize us to accept telephone instructions from a registered representative to make transfers among investment options as well as updates to premium allocations, take partial withdrawals, cease a periodic partial withdrawal, and update Dollar Cost Averaging (DCA), DCA Advantage (DCAA) and Interest Sweep. To authorize the registered representative(s) or registered service assistants assigned to your policy to make premium allocations, electronic transfers or telephone transfers, you must send a completed Trading and Partial Withdrawal Authorization Form to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. You must provide a separate authorization on that form in order for your registered representative or the registered service assistant assigned to your policy to be able to make electronic or telephone partial withdrawals on your behalf or cease a periodic partial withdrawal. Any partial withdrawal is subject to dollar amount limits that we establish. Not all periodic partial withdrawals can be ceased by your registered representative or their registered service assistant. We may revoke trading authorization privileges for certain policyowners (See "THE POLICIES—Limits on Transfers"). Trading authorization may be elected, changed or canceled 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 action on instructions which are believed to be genuine in accordance with the procedures. As these parties act on your behalf, you are responsible for and bear the consequences of their instructions and other actions, including any limits on transfers.

We may choose to accept forms you have completed that your registered representative transmits to us electronically via our internal secured network. We will accept electronically-transmitted service forms only. For information on how to initiate a transfer between Investment Divisions, or request a withdrawal, please refer to "THE POLICIES––Transfers" or "DISTRIBUTIONS UNDER THE POLICY––Surrenders and Withdrawals––Partial Withdrawals." 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.

***Electronic Delivery***

We are required to send you, free of charge, an Initial Summary Prospectus and an Updating Summary Prospectus (as applicable), and any updates to such Summary Prospectus documents. If you selected e-delivery, we will still provide you, free of charge, paper copies of these documents upon request.

Paper copies of a Portfolio's annual and semi-annual shareholder reports will not be sent by mail unless you specifically request paper copies of the reports from NYLIAC. Instead, the shareholder reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive the Portfolios' annual and semi-annual reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive any other communications from NYLIAC electronically by contacting the VPSC.

You may elect to receive all future annual and semi-annual financial reports in paper free of charge. You can inform NYLIAC that you wish to receive paper copies of those reports by contacting NYLIAC, as described in the "CONTACTING NYLIAC" section of this Prospectus. Your election to receive annual and semi-annual shareholder reports will apply to all Portfolios described herein.

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**Records and Reports**

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NYLIAC will mail to you at your last known address of record, at least semi-annually after the first Policy Year, reports (or, if permitted, notice of online availability of reports; see "THE POLICIES––Electronic Delivery," above) containing information required under the federal securities laws or by any other applicable law or regulation. Generally, NYLIAC will promptly mail to you confirmation of any transactions involving the Separate Account. However, when we (i) process automatic rebalancing transactions through AAR, (ii) process automatic transfers from the DCA Advantage Account, (iii) receive premium payments on your behalf involving the Separate Account initiated through pre-authorized monthly deductions from banks, (iv) receive payments forwarded by your employer, or (v) receive other payments made by 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. **If you believe that a transaction has been processed incorrectly, it is your responsibility to contact us in writing and provide us with all relevant details. You must provide us with the nature of the error, the date of the error and any other relevant details. It is important that you review your confirmation and quarterly statements carefully and promptly report any errors and discrepancies to us, preferably, within fifteen (15) days of the date of the statement in question. It is important that you inform NYLIAC of an address change so that you can receive these policy statements (See "CONTACTING NYLIAC"). In the event your statement is returned from the U.S. Postal Service as undeliverable, we reserve the right to suspend mailing future correspondence and also suspend current transaction processing until an accurate address is obtained. In addition, no new service requests can be processed until a valid current address is provided.**

***Designation of Beneficiary***

You may select one or more Beneficiaries and name them in the application. Thereafter, before the Annuity Commencement Date and while the Annuitant(s) is living, you may change the Beneficiary by written notice in Good Order sent to one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus, at www.newyorklife.com or through the mobile application, or you can utilize any other method we make available. If, before the Annuity Commencement Date, the Annuitant dies while you are still living, you will become the new Annuitant under the policy. If you are the Annuitant, the proceeds pass to your Beneficiary.

If no Beneficiary for any amount payable, or for a stated share, survives you, the right to this amount or this share will pass to your estate. Payment of the proceeds will be made in a single sum to your estate. If any Beneficiary dies at the same time as you, or within fifteen (15) days after your death, but before we receive proof of death and all claim information in Good Order, we will pay any amount payable as though the Beneficiary died before you did. If you have designated only one Beneficiary, this could mean that the proceeds will be payable to your estate.

Every state has unclaimed property laws, which generally declare an annuity policy to be abandoned after a period of inactivity of three to five years from the policy's Annuity Commencement Date or the date the death benefit is due and payable. If, after a thorough search, we are unable to locate you after your policy's Annuity Commencement Date, or if we are unable to locate your Beneficiary if you die before the Annuity Commencement Date, or you or the Beneficiary do not come forward to claim the policy proceeds or death benefit in a timely manner, the proceeds or death benefit may be paid to the abandoned property division or unclaimed property office of the state in which the beneficiary or the Annuitant last resided, as shown on our books and records, or to Delaware (our state of domicile). This escheatment is revocable, however, and the state is obligated to pay back the escheated amount if you or your beneficiary steps forward to claim it with the proper 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 the VPSC at 1-800-598-2019 or send written notice to one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus.

***Delay of Payments***

We will pay any amounts due from the Separate Account under the policy within seven (7) days of the date the VPSC receives all documents (including documents necessary to comply with federal and state tax law) in connection with a payment request in Good Order at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

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*Situations where payments may be delayed:* 

&nbsp;&nbsp;&nbsp;&nbsp;1. We may delay payment of any amounts due from the Separate Account under the policy and transfers among Investment Divisions during any period that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The New York Stock Exchange ("NYSE") is closed, for other than usual weekends or holidays; trading is restricted by the Securities and Exchange Commission ("SEC"); or the SEC declares that an emergency exists as a result of which it is not reasonably practical to dispose of securities in a Portfolio or to fairly determine the value of the assets of a Portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The SEC, by order, permits us to delay payment in order to protect our policyowners; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The check used to pay the premium has not cleared through the banking system. This may take up to fifteen (15) days.

&nbsp;&nbsp;&nbsp;&nbsp;2. We may delay payment of any amounts due from the Fixed Account and/or the DCA Advantage Account. When permitted by law, we may defer payment of any partial withdrawal or full surrender request for up to six months from the date of surrender from the Fixed Account and/or the DCA Advantage Account. In most jurisdictions, we will pay interest on any amount deferred for thirty days or more. If we defer payments, we will pay interest at the rate specified by the insurance department of the state where your policy is issued from the Business Day that we receive your partial withdrawal or surrender request in Good Order. This rate will be at least 1.0% per year. For more information about when interest is payable for policies issued in New York, see APPENDIX 3.

&nbsp;&nbsp;&nbsp;&nbsp;3. Federal laws enacted 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 to a particular policy(ies), we would not be allowed to pay any request for transfers, partial withdrawals, surrenders or death benefits. If a policy or an account is frozen, the Accumulation Value would be moved to a special segregated interest-bearing account and held in that account until we receive instructions from the appropriate federal regulator.

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**Benefits Available Under The Policies**

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The following tables summarize information about the benefits available under the policy.

**STANDARD DEATH BENEFIT**

**(automatically included with the policy)** 

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Standard Death** <br> **Benefit**<br>| Guarantees your <br> beneficiaries will receive a <br> benefit at least equal to the <br> greater of: (i) your <br> Accumulation Value, less any <br> outstanding loan balance; <br> less any Premium Credits <br> applied within the 12 months <br> immediately preceding death <br> or (ii) the Adjusted Death <br> Benefit Premium Payments.<br>| No additional charge | •Withdrawals could <br> significantly reduce the <br> benefit (possibly by an <br> amount substantially <br> greater than the actual <br> amount withdrawn).<br>|

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**OPTIONAL DEATH BENEFITS AVAILABLE FOR A FEE** 

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Annual Death** <br> **Benefit Reset** <br> **(ADBR) Rider**<br>| Provides a new locked–in <br> higher death benefit on each <br> year from the Policy Date <br> ("Reset Anniversary"), if your <br> investments increase in <br> value.<br>| **Maximum Charge:** 1.00%<br>(Charge calculated as an <br> annualized percentage of the <br> ADBR Reset Value as of the <br> last Policy Anniversary, <br> deducted quarterly)<br>| •Only available at the time <br> of application to <br> policyowners aged 75 or <br> younger.<br>•Resets will continue on <br> Reset Anniversaries until <br> the Owner (or Annuitant if <br> the Owner is not a natural <br> person) is age 80.<br>•Resets will terminate after:<br> (i) the owner's death (if the <br> owner is a natural person),<br> (ii) the death of any grantor <br> (for grantor trust owned <br> policies), or<br> (iii) the death of the <br> Annuitant (if the owner is <br> not a natural person or a <br> grantor trust).<br>•In certain jurisdictions, an <br> ownership change or <br> assignment will terminate <br> the rider.<br>•Withdrawals could <br> significantly reduce the <br> benefit (possibly by an <br> amount substantially <br> greater than the actual <br>|

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  |  |  | amount withdrawn).<br> •You cannot cancel the rider <br> without surrendering the <br> policy.<br> Premium Credits applied in <br> the 12 months immediately <br> preceding the date of <br> death are not included in <br> the benefit or Reset Value. <br>|
| **Enhanced** <br> **Beneficiary Benefit** <br> **(EBB) Rider**<br>| Pays an additional death <br> benefit amount to your <br> beneficiary(ies) if you die <br> before the Annuity <br> Commencement Date. The <br> additional amount is a <br> percentage of any gain in the <br> policy when the death benefit <br> is calculated. The percentage <br> is 50% for an owner age 70 <br> or younger at the date of <br> issue; and 25% where the <br> owner is age 71 to 75.<br>| **Maximum Charge:** 1.00%<br>(Charge calculated as an <br> annualized percentage of the <br> Accumulation Value, <br> deducted on a quarterly <br> basis).<br>| •Only available at the time <br> of application.<br>•Withdrawals could <br> significantly reduce the <br> benefit (possibly by an <br> amount substantially <br> greater than the actual <br> amount withdrawn).<br>•No benefit is paid if:<br> (i) There is no gain; or<br> (ii) The policy's <br> Accumulation Value is less <br> than your premium <br> payments made and not <br> previously withdrawn; or<br> (iii) The rider has ended or <br> terminated.<br>•You cannot cancel the rider <br> without surrendering the <br> policy.<br>•You will forfeit any benefits <br> under the rider if you elect <br> to receive Income <br> Payments, or surrender or <br> transfer your policy.<br>|
| **Enhanced Spousal** <br> **Continuance Rider**<br>| Upon your death prior to the <br> Annuity Commencement <br> Date, allows spouse to elect <br> to continue the policy as the <br> new owner.<br>| None (included with the EBB) | •Subject to state availability <br> and only included if you <br> purchased the EBB Rider <br> at the time of application.<br>•Can only be elected if the <br> spouse is the sole primary <br> Beneficiary.<br>•Terminates if you <br> surrender the policy, if <br> Income Payments begin, if <br> it has been exercised, or if <br> you transfer ownership to <br> someone other than your <br> spouse.<br>•You cannot cancel the rider <br> without surrendering the <br> policy. <br>|

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**OPTIONAL LIVING BENEFITS AVAILABLE FOR A FEE** 

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Investment** <br> **Protection Plan** <br> **("IPP") Rider (Only** <br> **available with** <br> **polices purchased** <br> **before July 16,** <br> **2012)**<br>| Protects your investment <br> against loss after a ten (10) <br> year Holding Period. Gives <br> you a one–time option to <br> surrender your policy and <br> receive the greater of your <br> Accumulation Value or the <br> guaranteed amount.<br>You may request to reset the <br> guaranteed amount under <br> certain circumstances, if your <br> investments increase in value <br> (a Rider Reset). A Rider <br> Reset will start a new <br> ten-year holding period.<br>| **Maximum Current:** 1.00% <br> (for riders applied for before <br> February 15, 2010);<br>1.25% (for riders applied for <br> before February 15, 2010);<br>(as an annualized <br> percentage of the <br> guaranteed amount, <br> deducted quarterly).<br>Maximum Rider Risk Charge <br> Adjustment (cancellation <br> charge): 2.00% (one time <br> charge, calculated as a <br> percentage of the <br> guaranteed amount).<br>| •Restricts the availability of <br> certain investment options <br> if you select this rider on or <br> after February 15, 2010.<br>•Provides no benefit if you <br> surrender the policy before <br> the end of the ten–year <br> holding period.<br>•A Rider Reset starts a new <br> ten–year holding period.<br>•A Rider Reset starts a new <br> Holding Period. New <br> annual charges may apply <br> after you elect a Rider <br> Reset.<br>•Rider Resets take effect on <br> the Policy Anniversary <br> immediately following the <br> date we receive your reset <br> request in writing. Upon <br> reset, the amount <br> guaranteed will equal the <br> Accumulation Value in the <br> next Policy Anniversary, <br> less proportional <br> withdrawals thereafter.<br>•Withdrawals could <br> significantly reduce the <br> benefit (possibly by more <br> than the actual amount <br> withdrawn).<br>•We apply a one-time <br> cancellation charge if you <br> decide to cancel the rider <br> (Rider Risk Charge <br> Adjustment).<br>•The rider can only be <br> exercised prior to the <br> Annuity Commencement <br> Date.<br>•**You must surrender the** <br> **policy to receive the** <br> **benefit**.<br>|

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

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|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Investment** <br> **Protection Plan II** <br> **("IPP II") Rider**<br>| Protects your investment <br> against loss after a twelve <br> (12) year Holding Period.<br>| **Maximum Charge:** 1.50%<br>(as an annualized<br>| •Only available at the time <br> of application.<br>•Restricts the availability of  |

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|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **(Only available with** <br> **polices purchased** <br> **before May 1, 2013)**<br>Gives you a one–time option <br> for an adjustment to your <br> Accumulation Value (to <br> increase it to the guaranteed <br> amount, if greater, on the <br> 12<sup>th</sup> policy anniversary<br>You may request to reset the <br> guaranteed amount under <br> certain circumstances, if your <br> investments increase in value <br> (a Rider Reset). A Rider <br> Reset will start a new <br> 12-year holding period.<br>| percentage of the <br> guaranteed amount).<br>Maximum Rider Risk Charge <br> Adjustment (cancellation <br> charge): 2.00% (one time <br> charge, calculated as a <br> percentage of the <br> guaranteed amount).<br>| certain investment options<br> •Provides no benefit if you <br> surrender the policy before <br> the end of the twelve <br> (12) year Holding Period.<br>•A Rider Reset starts a new <br> twelve-year Holding Period.<br>•A Rider Reset starts a new <br> Holding Period. New <br> annual charges may apply <br> after you elect a Rider <br> Reset.<br>•Rider Resets are only <br> available until the oldest <br> Owner and Annuitant reach <br> age 78.<br>•You should not select this <br> rider unless you intend to <br> keep the policy for at least <br> 12 years.<br>•Withdrawals could <br> significantly reduce the <br> benefit (possibly by more <br> than the actual amount <br> withdrawn).<br>•We apply a one-time <br> charge if you cancel the <br> rider (Rider Risk Charge <br> Adjustment).<br>|

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

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|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Guaranteed** <br> **Investment** <br> **Protection ("GIPR")** <br> **Rider (only** <br> **available with** <br> **polices purchased** <br> **before May 1, 2014)**<br>Protects your investment <br> against loss after a twelve <br> (12) year Holding Period. <br> Gives you a one–time option <br> for an adjustment to your <br> Accumulation Value (to <br> increase it to the guaranteed <br> amount, if greater, on the <br> 12<sup>th</sup> policy anniversary<br>You may request to reset the <br> guaranteed amount under <br> certain circumstances, if your <br> investments increase in value <br> (a GIPR Rider Reset). A <br> GIPR Rider Reset will start a <br> new 12-year holding period.<br>| **Maximum Charge:** 1.50%<br>(as an annualized <br> percentage of the <br> guaranteed amount, <br> deducted quarterly).<br>Maximum Rider Risk Charge <br> Adjustment (cancellation <br> charge): 2.00% (one time <br> charge, calculated as a <br> percentage of the <br> guaranteed amount).<br>| •Only available at the time <br> of application.<br>•Restricts the availability of <br> certain investment options. <br> See APPENDIX 2C<br>•Provides no benefit if you <br> surrender the policy before <br> the end of the twelve <br> (12) year Holding Period.<br>•A GIPR Rider Reset starts <br> a new twelve-year Holding <br> Period.<br>•GIPR Rider Resets are <br> only available until the <br> oldest Owner and <br> Annuitant reach are age 78 <br> or younger.<br>•We can suspend or  |

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|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  |  |  | discontinue the ability to <br> reset.<br>•You should not select this <br> rider unless you intend to <br> keep the policy for at least <br> 12 years.<br>•Withdrawals could <br> significantly reduce the <br> benefit (possibly by more <br> than the actual amount <br> withdrawn).<br>•We apply a one-time <br> charge if you cancel the <br> rider (Rider Risk Charge <br> Adjustment).<br>•An ownership change or <br> assignment will terminate <br> the benefit (except in <br> California, Florida and New <br> York).<br>•Can only be purchased at <br> policy issue.<br>|

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

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|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Guaranteed** <br> **Investment** <br> **Protection Rider 2.0** <br> **("GIPR 2.0") (only** <br> **available with** <br> **polices purchased** <br> **on or after May 1,** <br> **2014)**<br>| Protects your investment <br> from loss for a specified <br> holding period. If, after a <br> specified holding period, your <br> Accumulation Value is less <br> than the amount guaranteed, <br> we will make a one-time <br> increase to your <br> Accumulation Value to make <br> it equal to the guaranteed <br> amount.<br>You may request to reset the <br> guaranteed amount (a GIPR <br> 2.0 Rider Reset) under <br> certain circumstances A <br> GIPR 2.0 Rider Reset will <br> start a new holding period.<br>Includes a GIPR 2.0 Death <br> Benefit which is payable <br> upon the death of the Owner <br> if the policyowner dies within <br> two Policy Years of the last <br> day of the GIPR 2.0 Rider<br>| **Maximum Charge:** 1.50% <br>(as an annualized <br> percentage of the <br> guaranteed amount, <br> deducted quarterly).<br>Maximum Rider Risk Charge <br> Adjustment (cancellation <br> charge): 2.00% (one time <br> charge, calculated as a <br> percentage of the <br> guaranteed amount).<br>| •Only available at the time <br> of application.<br>•Restricts the availability of <br> certain investment options. <br> See APPENDIX 2C<br>•Provides no benefit if you <br> surrender the policy before <br> the end of your chosen <br> holding period.<br>•A GIPR 2.0 Rider Reset <br> starts a new holding <br> period. New annual <br> charges may apply after <br> you elect a GIPR 2.0 Rider <br> Reset<br>•We can suspend or <br> discontinue the ability to <br> reset.<br>•GIPR 2.0 Rider Resets are <br> only available until the <br> oldest Owner are age 75 or <br> younger, or age 70 or <br> younger for the 20-year <br> term.<br>•You should not select this  |

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|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  | term then in effect, the death <br> benefit will equal the <br> guaranteed amount for that <br> Rider term, if that <br> guaranteed amount is higher <br> than the Standard Death <br>Benefit on the date of death.<br>|  | rider unless you intend to <br> keep the policy for at least <br> as long as the holding <br> period you selected.<br>•Withdrawals could <br> significantly reduce or <br> terminate the benefit <br> (possibly by more than the <br> amount greater than the <br> actual amount withdrawn).<br>•We apply a one-time <br> charge if you cancel the <br> rider (Rider Risk Charge <br> Adjustment).<br>•An ownership change or <br> assignment will terminate <br> the benefit (except in <br> California, Florida and New <br> York).<br>|

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**OTHER OPTIONAL BENEFITS INCLUDED WITH ALL POLICIES AT NO ADDITIONAL COST** 

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Living Needs** <br> **Benefit /** <br> **Unemployment** <br> **Rider**<br>| Waives Surrender Charges if <br> the Owner experiences <br> certain "qualifying events" <br> such as: (i) confinement to a <br> health care facility for 60 <br> consecutive days; <br> (ii) terminal illness; <br> (iii) disability. If the Owner <br> becomes unemployed, the <br> rider waives Surrender <br> Charges on a one-time <br> withdrawal of up to 50% of <br> your Accumulation Value.<br>|  | •Policy must have been in <br> force for at least one year <br> and have a minimum <br> Accumulation Value of <br> $5,000.<br>•Qualifying Event (as <br> defined in the rider) must <br> occur after the Policy Date.<br>•Disability portion does not <br> apply to withdrawals after <br> the Owner's 66th birthday.<br>•Not available if any Owner <br> has attained age 86 on the <br> Policy Date.<br>•Unemployment must be for <br> at least 60 consecutive <br> days.<br>•A determination letter from <br> your state's Department of <br> Labor is required for <br> unemployment benefit.<br>•If the Owner(s) is not a <br> natural person, all <br> restrictions and benefits of <br> the rider are based on the <br> Annuitant. <br>|

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  |  |  | •Rider benefits and <br> requirements to qualify for <br> the rider benefits may not <br> be the same in all <br> jurisdictions.<br>|
| **Living Needs** <br> **Benefit Rider**<br>| Increases the amount that <br> can be withdrawn from your <br> policy without a surrender <br> charge if the Owner <br> experiences certain <br> "qualifying events" such as: <br> (i) confinement to a health <br> care facility for 60 <br> consecutive days; <br> (ii) terminal illness; or <br> (iii) disability.<br>|  | •Policy must have been in <br> force for at least one year <br> and have a minimum <br> Accumulation Value of <br> $5,000.<br>•Qualifying Event (as <br> defined in the rider) must <br> occur after the Policy Date.<br>•Withdrawals will be taxable <br> to the extent gain and, prior <br> to 59½, may be subject to <br> a 10% IRS penalty.<br>•To qualify for the disability <br> benefit, the Annuitant must <br> be classified as disabled by <br> the Social Security <br> Administration.<br>•Owner no longer eligible <br> for the disability benefit <br> once the Annuitant begins <br> collecting Social Security <br> benefits.<br>•Not available if any Owner <br> has attained age 86 on the <br> Policy Date.<br>|
| **Unemployment** <br> **Rider**<br>| Increases the amount that <br> can be withdrawn from your <br> policy without a surrender <br> charge to 50% of the <br> Accumulation Value if the <br> Owner becomes <br> unemployed.<br>|  | •Can only be used once.<br> •Policy must have been in <br> force for at least one year <br> and have a minimum <br> Accumulation Value of <br> $5,000.<br>•Unemployment must be for <br> at least 60 consecutive <br> days.<br>•Withdrawals will be taxable <br> to the extent gain and, prior <br> to 59½, may be subject to <br> a 10% IRS penalty.<br>•Must submit state's <br> Department of Labor <br> determination letter that <br> you are qualified for and <br> receiving unemployment <br> benefits.<br>|
| **Breakpoint Credit** <br> **Rider**<br>| Applies a credit, called a <br> Breakpoint Credit, to the<br>|  | •Available only for policies <br> purchased before July 1, <br>|

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  | portion of a premium <br> payment that exceeds <br> $1,000,000.<br>|  | 2013.<br> •Credit applied at the time <br> of premium payment.<br>|
| **Automatic Asset** <br> **Reallocation**<br>| Automatically rebalances <br> your Variable Accumulation <br> Value (either quarterly, <br> semi–annually, or annually) <br> to maintain the percentage <br> allocated to each Investment <br> Division at a pre–set level.<br>|  | •Cannot be used with the <br> traditional Dollar Cost <br> Averaging option.<br>•You must have a minimum <br> Accumulation Value of <br> $2,500 to elect Automatic <br> Asset Reallocation, and a <br> minimum of $2,500 to <br> continue it as scheduled.<br>|
| **Traditional Dollar** <br> **Cost Averaging**<br>| Automatically transfers a <br> specific amount of money <br> from any Investment Division <br> to any combination of <br> Investment Divisions and/or <br> Fixed Account at set <br> intervals.<br>|  | •Cannot be used with the <br> Automatic Asset <br> Reallocation option, or with <br> an investment protection <br> rider.<br>•For premium based M&E <br> Charge policies, amounts <br> cannot be transferred to <br> the Fixed Account (if <br> applicable).<br>•You must have a minimum <br> Accumulation Value of <br> $2,500 to elect this option, <br> and a minimum of $2,000 <br> to continue as scheduled.<br>|
| **The DCA** <br> **Advantage Account**<br>| Allows you to set up <br> automatic dollar cost <br> averaging using the DCA <br> Advantage Account when an <br> initial premium payment or a <br> subsequent premium <br> payment is made. The DCA <br> Advantage Account transfers <br> amounts automatically to the <br> Investment Divisions you <br> choose in six monthly <br> increments and pays you <br> interest on amounts <br> remaining in the DCA <br> Advantage Account.<br>|  | •DCA Advantage Account <br> duration may not extend <br> beyond the Annuity <br> Commencement Date.<br>•You may not have more <br> than one DCA Advantage <br> Account open at the same <br> time.<br>•You must allocate a <br> minimum of $5,000 to the <br> DCA Advantage Account; <br> any premium payment less <br> than $5,000 will be <br> allocated directly to the <br> Investment Divisions in <br> accordance with the <br> instructions we have on <br> file.<br>•You cannot make transfers <br> into the DCA Advantage <br> Account from any <br> Allocation Option.<br>•You may not make <br> transfers from the DCA <br>|

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  |  |  | Advantage Account into the <br> Fixed Account.<br>•The annual effective <br> interest rate for the DCA <br> Advantage Account shown <br> on your Policy Data Page <br> applies only to your initial <br> premium payment. Interest <br> rates applied to <br> subsequent premium <br> payments allocated to the <br> DCA Advantage Account <br> may differ.<br>•The benefits payable under <br> the DCA Advantage <br> Account (including principal <br> and interest) are payable <br> from NYLIAC's general <br> account and are subject to <br> its claims-paying ability.<br>|
| **Interest Sweep** | Automatically transfers <br> interest earned on the Fixed <br> Account to one or any <br> combination of Investment <br> Divisions.<br>|  | •Frequency of the transfers <br> can be monthly, quarterly, <br> semi–annually, or annually.<br>•You must have a minimum <br> of $2,500 in the Fixed <br> Account to elect this option <br> (but this amount may be <br> reduced at our discretion) <br> and a minimum of $2,000 <br> to continue as scheduled.<br>|

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**Description of Benefits**

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***The Standard Death Benefit – Death Before Annuity Commencement***

Unless amended by any rider attached to the policy, if the Owner dies prior to the Annuity Commencement Date, we will pay the Standard Death Benefit amount as proceeds to the designated Beneficiary(ies), as of the date the VPSC receives proof of death and all other required information in Good Order at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. Generally, NYLIAC will not issue a policy to joint owners. However, if NYLIAC made an exception and issued a jointly owned policy, ownership rights and privileges under the policy must be exercised jointly and benefits under the policy will be paid upon the death of any joint owner, unless the surviving spouse has been designated the sole primary beneficiary. In that case, the surviving spouse can choose to continue the policy as discussed below. (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.") For policies owned by a grantor trust, all of whose grantors are individuals, benefits will be paid upon the death of any grantor. The Standard Death Benefit amount will be the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Accumulation Value, less any outstanding loan balance, less any Premium Credits applied within the 12 months immediately preceding death (in states where permitted); or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the Adjusted Death Benefit Premium Payments.

If more than one Beneficiary is named, each Beneficiary will be paid a pro rata portion from each Investment Division, the Fixed Account and the DCA Advantage Account, if applicable, in which the policy is invested as of the date we receive proof of death and all requirements necessary to make the payment to that Beneficiary. The remaining balance in the policy after paying each Beneficiary will remain in each Allocation Option in which the policy was invested as of the date we received due proof of death in Good Order. We will keep the remaining balance in the policy to pay the other Beneficiaries. Due to market fluctuations, the remaining Accumulation Value may increase or decrease and we may pay subsequent Beneficiaries a different amount. Beneficiary(ies) may not make transfers between Investment Divisions of the Separate Account, the Fixed Account or any other investment option that we may offer at any time.

We will make payments in a lump sum to the Beneficiary unless you have elected or the Beneficiary elects otherwise in a signed written notice in Good Order. If such an election is properly made, we will apply all or part of these proceeds:

&nbsp;&nbsp;&nbsp;&nbsp;(i) under a life Income Payment option to provide an immediate annuity for the Beneficiary who will be the policyowner and Annuitant; or

&nbsp;&nbsp;&nbsp;&nbsp;(ii) under another Income Payment option we may offer at the time.

Payments under the annuity or under any other method of payment we make available must be for the life of the Beneficiary, or for a number of years that is not more than the life expectancy of the Beneficiary at the time of the policyowner's death (as determined for federal tax purposes), and must begin within one year after the policyowner's death. (See "ANNUITY PAYMENTS (THE INCOME PHASE)—Income Payments.")

If your spouse (as defined under Federal law) is designated as the sole primary Beneficiary, we can pay the proceeds to the surviving spouse if you die before the Annuity Commencement Date or the policy can continue with the surviving spouse as (a) the new policyowner and, (b) the Annuitant, if you were the Annuitant. Please note: if your spouse is not designated as the sole primary beneficiary, when you die the death benefit will be paid to the beneficiary(ies) you named, even if your spouse was the joint owner of the policy. For policies with one Annuitant, if the Annuitant is not an Owner and the Annuitant dies before the Annuity Commencement Date, when we receive proof of death for the Annuitant, the Owner will become the Annuitant, and the policy will continue. If the policy is jointly owned, the first Owner named will become the Annuitant. For more information about spousal continuance for policies issued in New Jersey, see *"*APPENDIX 3 – State Variations*".* 

We will make any distribution or application of policy proceeds within 7 days after the VPSC receives all documents (including documents necessary to comply with federal and state tax law) in connection with the event or election that causes the distribution to take place at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus, subject to postponement in certain circumstances. (See "THE POLICIES—Delay of Payments.")

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*How the Standard Death Benefit is Calculated* 

Here is an example of how the Standard Death Benefit is calculated.

Assume that:

&nbsp;&nbsp;&nbsp;&nbsp;(1) You purchase this policy with a $200,000 premium payment, a Premium Credit of $8,000 (based on Premium Credit Rates at the time of application) is applied to this payment;

&nbsp;&nbsp;&nbsp;&nbsp;(2) A $20,000 withdrawal is made at the end of the second Policy Year, and the Accumulation Value immediately preceding the withdrawal is $240,000;

&nbsp;&nbsp;&nbsp;&nbsp;(3) You die in the third Policy Year, and the Accumulation Value upon death is $175,000

At issue, the Adjusted Death Benefit Premium Payments are equal to $200,000.

Due to the $20,000 withdrawal at the end of the second Policy Year, the Adjusted Death Benefit Premium Payments were reduced by $16,666.67, calculated as follows: ($20,000 / $240,000) \* $200,000 = $16,666.67.

Upon death in the third policy year, the Standard Death Benefit is $183,333.33, which is the greater of:

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

the Accumulation Value upon death

= **$175,000, or** 

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

Premium payments less any Return of Premium Death Benefit Proportional Withdrawal;

= **$183,333.33** (calculated as follows: $200,000 - $16,666.67 = $183,333.33)

The formula guarantees that the amount we pay will at least equal the sum of all premium payments (less any proportional reductions due to partial withdrawals and surrender charges on such partial withdrawals), independent of the investment experience of the Separate Account.

In this example, your Beneficiary would receive **$183,333.33**

***Annual Death Benefit Reset Rider***

You may enhance your Policy's standard death benefit by purchasing the optional ADBR Rider. The ADBR Rider is available only at the time of application, to policyowners aged 75 or younger. The ADBR Rider is not available with the EBB Rider in the State of New Jersey. If you purchased the ADBR and you die prior to the Annuity Commencement Date, we will pay an amount as proceeds to the designated Beneficiary, as of the date we receive proof of death and all requirements necessary to make the payment at the VPSC. For policies owned by a grantor trust, all of whose grantors are individuals, benefits will be paid upon the death of any grantor. The amount will be the greatest of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Accumulation Value, less any (outstanding loan balance and any) Premium Credits credited to the Accumulation Value if the Credits occurred within the immediately preceding twelve months of the date of death (unless prohibited by state law);

&nbsp;&nbsp;&nbsp;&nbsp;(b) the Adjusted Death Benefit Premium Payments; or

&nbsp;&nbsp;&nbsp;&nbsp;(c) the "ADBR Reset Value", as defined in the next paragraph, plus any additional premium payments made since the most recent "Reset Anniversary", and less (i) any Premium Credits, if credited to the policy within the twelve months immediately preceding death and (ii) any proportional withdrawals ("ADBR Reset Value Proportional Withdrawals") made since the most recent Reset Anniversary. (Deduction of Premium Credits is not permitted in certain states; contact your registered representative for more information.); or

&nbsp;&nbsp;&nbsp;&nbsp;(d) any death benefit available under any other rider attached to the Policy.

We automatically calculate the ADBR Reset Value, with respect to any policy, every year from the Policy Date ("Reset Anniversary") until you reach age 80 (or the Annuitant if the Owner is not a natural person). For policies owned by a grantor trust, the ADBR Reset Value will be recalculated until any grantor reaches age 80. On the first Policy Anniversary, the ADBR Reset Value is defined as the greater of (a) the Accumulation Value on the first Policy Anniversary; and (b) the Adjusted Death Benefit Premium Payments. The ADBR Reset Value on the second and each subsequent Reset Anniversary is defined as the greater of (a) the Accumulation Value on the current Reset

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Anniversary; and (b) the ADBR Reset Value on the prior Reset Anniversary plus any Premium Payments made and, if applicable, any Premium Credits applied since the prior Reset Anniversary, less any ADBR Reset Value Proportional Withdrawals since the prior Reset Anniversary

In jurisdictions where approved, the rider benefit will no longer reset after the Owner's death or for grantor trust owned policies, the death of any grantor. The only exception is if the policy remains in-force under the spousal continuation option provision of the Policy, if available. If the Owner is not a natural person, or a grantor trust, the rider benefit will no longer reset after the death of the Annuitant. In addition, in jurisdictions where approved, if an ownership change or assignment of the policy is made, other than as explicitly described in the rider, the rider will terminate and no ADBR Reset Value will be payable. If the rider is terminated, the death benefit payable will be the benefit provided in the Death Before Annuity Commencement section of this Prospectus.

An ADBR Reset Value Proportional Withdrawal is an amount equal to the amount withdrawn from the policy, after the first Policy Anniversary, (including applicable surrender charges), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the ADBR Reset Value immediately preceding the withdrawal.

We have set forth below an example of how the ADBR Rider works for an owner who is age 63. The current annual rider charge is 0.30% of the ADBR Reset Value as of the last Policy Anniversary, deducted quarterly. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) you purchase this policy with a $200,000 initial premium payment (no additional premium payments are made); a Premium Credit of $8,000 (based on Premium Credit Rates at the time of application) is applied to this payment

&nbsp;&nbsp;&nbsp;&nbsp;(2) the Accumulation Value as of the first Policy Anniversary is $250,000 (this is the Policy Year 1 Reset Value)

&nbsp;&nbsp;&nbsp;&nbsp;(3) the current Accumulation Value is $240,000

&nbsp;&nbsp;&nbsp;&nbsp;(4) you make a partial withdrawal of $15,000 in the Policy Year 2 (no surrender charges are applicable)

&nbsp;&nbsp;&nbsp;&nbsp;(5) you die at the beginning of the second policy quarter of Policy Year 2 after the withdrawal

&nbsp;&nbsp;&nbsp;&nbsp;(6) the Accumulation Value on the date we receive the necessary requirements to pay the death benefit is $225,000 ($240,000 – $15,000)

&nbsp;&nbsp;&nbsp;&nbsp;(7) the charge for the ADBR Rider is assessed: 0.30% annually (0.075% per quarter)

&nbsp;&nbsp;&nbsp;&nbsp;(8) the Death Benefit is the greatest of:

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

the Accumulation Value

**$225,000** 

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

the Adjusted Death Benefit Premium Payments

= **$187,500** calculated as described below:

To calculate the Adjusted Death Benefit Premium Payments, you must first determine the value of any ADBR Reset Value Proportional Withdrawal. The ADBR Reset Value Proportional Withdrawal equals the amount of partial withdrawals ($15,000) divided by the policy's Accumulation Value immediately preceding the withdrawal ($240,000), multiplied by the Adjusted Death Benefit Premium Payments immediately preceding the withdrawal ($200,000):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ($15,000/$240,000) x $200,000 = $12,500 is the proportional reduction.

The total amount of premium payments made under the policy ($200,000) minus the ADBR Reset Value Proportional Withdrawal ($12,500) equals the Adjusted Death Benefit Premium Payments ($187,500).

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

the Policy Year 2 ADBR Reset Value, which is the greatest of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. the Accumulation Value

**$225,000** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the prior Reset Value as of the last Reset Anniversary ($250,000), plus any premium payments

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and any Premium Credits and/or Breakpoint Credits made since the prior Reset Anniversary (less any applicable Premium Credits, if credited to the Accumulation Value within the twelve months immediately preceding death) ($0), less ADBR Reset Value Proportional Withdrawals since the prior Reset Anniversary ($15,625).

= **$234,375** calculated as described below:

To calculate the ADBR Reset Value, you must first determine the value of any ADBR Reset Value Proportional Reduction. The ADBR Reset Value Proportional Reduction is an amount equal to the amount withdrawn from the policy, after the first Policy Anniversary, ($15,000), divided by the policy's Accumulation Value immediately preceding the withdrawal ($240,000), multiplied by the ADBR Reset Value immediately preceding the withdrawal ($250,000).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ($15,000/$240,000) x $250,000 = $15,625.

The prior ADBR Reset Value as of the last Reset Anniversary ($250,000), plus any premium payments since the prior Reset Anniversary ($0), less ADBR Reset Value Proportional Withdrawals since the prior Reset Anniversary ($15,625) equals $234,375.00.

In this example, your Beneficiary would receive **$234,375.00.** 

The ADBR Rider ends upon the earliest of the following:

1)

the Annuity Commencement Date,

2)

the date you surrender the policy, or

3)

the date we terminate the policy.

Notwithstanding the foregoing, the Rider will not end and all of the Rider's provisions and quarterly charges will continue to be deducted as if the new owner had purchased the policy on the original Policy Date if your spouse, as the sole primary Beneficiary, elects to continue the policy upon your death.

**You cannot cancel this Rider without surrendering your policy.**

***Enhanced Beneficiary Benefit Rider***

**The Enhanced Beneficiary Benefit (EBB) Rider was only available at the time of application. The EBB Rider was not available with the Annual Death Benefit Reset Rider (ADBR) in the State of New Jersey.** The EBB Rider was available on Non-Qualified Policies and, where permitted by the IRS, also on Qualified Policies. The EBB Rider can increase the death benefit if you die before the Annuity Commencement Date. If you purchased this Rider, the EBB, in addition to the amount payable under the terms of your policy, may be payable to your Beneficiary(ies) if you die prior to the Annuity Commencement Date. Therefore, under this Rider, the total death benefit payable will be the greatest of any of the amounts payable as described in the "DESCRIPTION OF BENEFITS—The Standard Death Benefit—Death Before Annuity Commencement" section of the Prospectus plus the EBB, if any. Please note that benefits under this rider are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC.

While this rider is in effect, we will deduct a charge from your Accumulation Value each policy quarter. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Enhanced Beneficiary Benefit Rider Charge.")

The payment under the EBB Rider is calculated as a percentage of any gain in the policy as of the date we receive a request in Good Order to pay death benefit proceeds at the VPSC. The applicable percentage varies based upon your or the Annuitant's issue age. As of the date of this Prospectus, the applicable percentages are as follows: 50% where the owner is 70 or younger, and 25% where the owner is 71 to 75 inclusive. We may change the applicable percentages under the EBB Rider from time to time, within the following ranges:

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| | |
|:---|:---|
| **Age of Oldest Owner or Annuitant at Issue** | **Range of Applicable Percentages** |
| 70 or younger | Not less than 40% nor greater than 60% |
| 71 to 75 inclusive | Not less than 20% nor greater than 40%  |

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**When you purchased the EBB Rider, the applicable percentage appeared on your Policy Data Page. The applicable percentage for the policy will not change once the policy is issued. Please check with your registered representative for further details.** 

The gain equals the policy's Accumulation Value minus the Adjusted Premium Payments. Adjusted Premium Payments are the total of all premium payments less proportional withdrawals ("EBB Proportional Withdrawals"). EBB Proportional Withdrawals are the amount(s) withdrawn from the policy (including any surrender charges, if applicable) divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the total of all Adjusted Premium Payments immediately preceding the withdrawal.

If more than one Beneficiary is named, each Beneficiary will be paid a pro rata portion of the EBB. The EBB will be calculated for a Beneficiary on each date that we receive all necessary requirements to pay such Beneficiary at the VPSC in Good Order. Due to market fluctuations, the EBB may increase or decrease and Beneficiaries may therefore be paid different amounts.

The maximum amount payable under the EBB Rider, regardless of the gain, is equal to a percentage of Adjusted Premium Payments. As of the date of this Prospectus, the applicable percentages are as follows: 100% where the owner is 70 or younger, and 75% where the owner is 71 to 75 inclusive. We may change the applicable percentages under the EBB Rider from time to time, but the maximum amount payable will not exceed 200% of Adjusted Premium Payments. If you select this rider, the applicable percentage will appear on your Policy Data Page. Please check with your registered representative for further details.

There will be no payment under the EBB Rider if on the date we calculate the EBB: 1) there is no gain, 2) the policy's Accumulation Value is less than your premium payments made and not previously withdrawn, or 3) the rider has ended or terminated. The EBB Rider will end on the earliest of the following: 1) on the Annuity Commencement Date, 2) if you surrender the policy, 3) if your spouse, as the sole primary Beneficiary, elects to continue the policy upon your death (see "DESCRIPTION OF BENEFITS—Enhanced Spousal Continuance Rider (optional)"), 4) if we elect to terminate the policy pursuant to the policy's termination provision, or 5) if you transfer ownership of the policy,. As discussed below in "DESCRIPTION OF BENEFITS—Enhanced Spousal Continuance Rider," if upon your death prior to the Annuity Commencement Date your spouse elects to continue the policy as the new owner (and Annuitant, if you are the Annuitant), the Accumulation Value will be adjusted (as of the date we receive due proof of death and all other requirements at the VPSC in Good Order) to equal the greatest of any of the amounts payable as described in the "DESCRIPTION OF BENEFITS—The Standard Death Benefit—Death Before Annuity Commencement" section of the Prospectus, plus, if applicable, any EBB provided by the EBB Rider. **This rider cannot be cancelled without surrendering your policy.** You will forfeit any benefits under the EBB Rider if you elect to receive Income Payments, or surrender or transfer your policy. If you expect to do any of these, the EBB Rider may not be appropriate for you.

We have set forth below an example of how the benefit of the EBB Rider may be realized and how withdrawals impact the benefit under this Rider. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;1. The rider is elected at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;2. You purchase this policy with a $200,000 initial premium payment (no additional premium payments are made); a Credit of $8,000 (based on the Premium Credit Rate at time of application) is applied to your policy;

&nbsp;&nbsp;&nbsp;&nbsp;3. A withdrawal of $20,000 is made in the fourth Policy Year;

&nbsp;&nbsp;&nbsp;&nbsp;4. Immediately preceding the withdrawal, the Accumulation Value has increased to $250,000, and the total Adjusted Premium Payments equaled $200,000 (since there have been no previous withdrawals);

&nbsp;&nbsp;&nbsp;&nbsp;5. If you (or the Annuitant, if you are not the Annuitant) die in the fifth Policy Year and the Accumulation Value of the policy has increased once again to $250,000 as of the date we receive the necessary requirements to pay the death benefit; and

&nbsp;&nbsp;&nbsp;&nbsp;6. The Enhanced Beneficiary Benefit Rider percentage equals 50%.

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First, the Proportional Withdrawal amount is calculated (withdrawal amount divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the Adjusted Premium Payments immediately preceding the withdrawal):

Proportional Withdrawal = ($20,000/$250,000) x $200,000 = $16,000

Second, the amount of current Adjusted Premium Payments (after the withdrawal) is calculated (total of all premium payments minus EBB Proportional Withdrawals):

Adjusted Premium Payments = $200,000 – $16,000 = $184,000

Third, the gain is calculated (Accumulation Value – Adjusted Premium Payments):

Gain = $250,000 – $184,000 = $66,000

Finally, the Enhanced Beneficiary Benefit amount is calculated (Gain multiplied by the applicable EBB rider percentage):

Enhanced Beneficiary Benefit = $66,000 x 50% = $33,000

In this example, the Enhanced Beneficiary Benefit is equal to $33,000. This amount would be payable in addition to the guaranteed death benefit amount under the policy.

***Enhanced Spousal Continuance Rider***

If you purchased the EBB Rider at the time of application (see above), your policy will, subject to jurisdiction availability, also include the Enhanced Spousal Continuance Rider ("ESC Rider") at no charge. The ESC Rider is not included on policies sold in connection with Section 403(b) tax-sheltered annuities.

Under the ESC Rider, if your spouse is the sole primary Beneficiary, upon your death prior to the Annuity Commencement Date, your spouse may elect to continue the policy as the new owner (and Annuitant, if you are also the Annuitant). If the election is made, the Accumulation Value will be adjusted (as of the date we receive due proof of death and all other requirements in Good Order at the VPSC) to equal the greatest of any of the amounts payable as described in the ("DESCRIPTION OF BENEFITS—The Standard Death Benefit—Death Before Annuity Commencement") section of the Prospectus, plus, if applicable, any EBB provided by the EBB Rider. Unless we notify you otherwise, any additional Accumulation Value calculated under the ESC Rider will be allocated to the policy according to the premium allocation instructions on record (excluding the DCA Advantage Account).

The ESC Rider ends upon the earliest of the following: 1) if you surrender the policy, 2) if Income Payments begin, 3) once the ESC Rider has been exercised, or 4) if you transfer ownership of the policy to someone other than your spouse. **This rider cannot be cancelled without surrendering your policy.** 

Upon exercising the ESC Rider and continuing the policy, the EBB Rider and the quarterly charges for the EBB Rider will cease. All other policy provisions will continue as if your spouse had purchased the policy on the original Policy Date.

Example:

Your spouse is your policy's sole primary Beneficiary. If you die and your spouse chooses to continue the policy as the new owner, and the Accumulation Value as of your date of death is $100,000, it will be increased to equal the amount of the Standard Death Benefit plus an EBB provided under the EBB Rider.

***Investment Protection Plan Rider***

The Investment Protection Plan Rider ("IPP") is available only in jurisdictions where approved and with policies purchased before July 16, 2012. If you purchase this rider, you will be able to surrender the policy and receive the greater of the policy Accumulation Value or the amount that is guaranteed under the rider. To select this rider for in force policies, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. While this rider is in effect, we will deduct a charge from your Accumulation Value on each policy quarter. (See "CHARGES AND DEDUCTIONS—Optional Benefit

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Expenses—Investment Protection Plan Rider Charge.") When you make a partial withdrawal, we will reduce the amount that is guaranteed under the rider by the amount of the proportional withdrawal ("IPP Proportional Withdrawal"). The IPP Proportional Withdrawal is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the amount that is guaranteed immediately preceding the withdrawal.

IPP may be appropriate for individuals who appreciate the upside potential that comes with market participation, but are also highly sensitive to protecting their initial premium payment over a pre-determined holding period of 10 years.

Please note that benefits payable under the IPP Rider are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third-party guarantees are involved.

The amount that is guaranteed under the rider will depend on when you select or reset it:

&nbsp;&nbsp;&nbsp;&nbsp;(i) At the time of application: The amount that is guaranteed will equal the initial premium payment and Premium Credit thereon plus any additional premium payments and Premium Credits thereon we receive in the first Policy Year, less all IPP Proportional Withdrawals. Premium payments made after the first Policy Year will not be included in the amount that is guaranteed. The rider will take effect on the Policy Date.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) While the policy is in force: The amount that is guaranteed will equal the Accumulation Value on the date the rider takes effect, less all IPP Proportional Withdrawals. The Rider will take effect on the next Policy Anniversary following the date the VPSC receives your application for the rider, in Good Order, at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) Resetting the guaranteed amount ("Rider Reset"): You may request to reset the amount that is guaranteed at any time while the rider is in effect subject to the following limitations: (1) the latest available reset date for Non–qualified Policies is ten (10) years prior to the Annuity Commencement Date and (2) for Qualified Policies, you must be age 65 or younger. To reset the guaranteed amount, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset. Upon reset, the amount that is guaranteed will equal the Accumulation Value on the next Policy Anniversary, less all IPP Proportional Withdrawals. We may also set a new charge (not to exceed the guaranteed maximum charge in the "FEE TABLE") for the rider and the Rider Risk Charge Adjustment on that Policy Anniversary. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Rider Charge" and "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge)".) In addition, upon reset, your allocation restrictions may change. Please contact your registered representative for more information.

In Oregon, where this rider is called the Accumulation Value Protection Plan, the amount guaranteed is computed in the same manner described above.

If you selected this rider on or after February 15, 2010, you will only be allowed to allocate your premium payments to certain Allocation Options and the DCA Advantage Account. You may not allocate more than 25% of your initial premium payment to the Fixed Account. In addition, you may not have more than 25% of your policy's Accumulation Value allocated to the Fixed Account on the rider's effective date for in–force policies. The Investment Division restrictions associated with the IPP Rider seek to moderate overall volatility or hedge against down market volatility, and may limit your participation in positive investment performance. Other investment options that are available if you do not select the IPP Rider may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with the IPP Rider meet your investment objectives and risk tolerance. The Fixed Account is not available for policies issued in the State of New York. In addition, the Fixed Account is not available in the State of Washington if the IPP Rider is selected. The version of the IPP Rider that became available on or after February 15, 2010 is the same as the version of the rider available prior to February 15, 2010 in all other respects. The allowable Allocation Options under the IPP Rider available on or after February 15, 2010 are listed in APPENDIX 2B to this Prospectus.

You will be eligible to receive the benefit under this rider beginning on the tenth Policy Anniversary after the later of (1) the effective date of the rider or (2) the effective date of any Rider Reset. You may also exercise this benefit on any Policy Anniversary subsequent to the tenth. To exercise this benefit, you must send us a written request to

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surrender the policy in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus no later than ten Business Days after the applicable Policy Anniversary. Amounts paid to you under the terms of this rider may be taxable and you may be subject to a 10% tax penalty if paid before you reach age 59½.

You may cancel this rider within 30 days after delivery of the rider or, if you selected this feature at the time of application, within 30 days after delivery of the policy. To cancel the rider, you must return it to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel the Rider and refund any Investment Protection Plan Rider charge which may have been deducted. After this 30–day period, you still have the right to discontinue the rider. However, if you do we will deduct a Rider Risk Charge Adjustment from your Accumulation Value and we will not refund any Investment Protection Plan Rider charge that may have been deducted. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge).") The cancellation of the rider after the 30–day period will be effective as of the date the VPSC receives your cancellation request.

This rider is available on all Non–Qualified and Roth IRA policies so long as the first date that you can exercise and receive benefits under the rider is before the Annuity Commencement Date. The rider is also available on IRA, SEP IRA and SIMPLE IRA policies if the policyowner is age 65 or younger on the date the rider takes effect. The rider is not available on TSA and Inherited IRA policies. For policies issued prior to February 15, 2010, this rider is not available if more than 50% of the policy's Accumulation Value is in the Fixed Account when the rider is selected.

This rider will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to exercise the rider. Therefore, you should select this rider only if you intend to keep the policy for at least ten years. In addition, this rider has no impact on any amount paid upon your death or the death of the Annuitant.

Partial withdrawals will reduce the guaranteed amount and the amount of charges assessed for the rider. However, please note that charges assessed for this rider prior to the date of any partial withdrawal (including required minimum distributions from IRAs) will not be retroactively adjusted.

We have set forth below an example of how the benefit of this rider may be realized and how partial withdrawals (including required minimum distributions from IRAs) will impact the guaranteed amount. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) the rider is selected at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) an initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) a Credit of $4,000 (based on the Premium Credit Rate at time of application) is applied to your policy;

&nbsp;&nbsp;&nbsp;&nbsp;(4) no additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(5) a withdrawal of $20,000 is made in the eighth Policy Year;

&nbsp;&nbsp;&nbsp;&nbsp;(6) the Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(7) the Accumulation Value on the tenth Policy Anniversary has decreased to $50,000.

The guaranteed amount at time of application was $104,000. When the partial withdrawal was made in the eighth Policy Year, we reduced the guaranteed amount by the amount of the IPP Proportional Withdrawal. We calculated the amount of the IPP Proportional Withdrawal by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the guaranteed amount immediately preceding the withdrawal.

IPP Proportional Withdrawal = ($20,000/$80,000) x $104,000 = $26,000

To determine the new guaranteed amount after the withdrawal, we subtracted the amount of the IPP Proportional Withdrawal from the initial guaranteed amount: ($104,000 – $26,000) = $78,000. If this policy is surrendered in the tenth Policy Year, the policyowner receives $78,000 even though the Accumulation Value has decreased to $50,000.

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***Investment Protection Plan Rider/Annual Death Benefit Reset Rider Package***

If you purchased the Investment Protection Plan Rider/Annual Death Benefit Reset Rider combination package ("IPP + ADBR") when you applied for your policy, you will receive both the ADBR and IPP Riders at a reduced cost. Please note that if the IPP Rider is cancelled, the charge for the ADBR Rider will revert to the charge that is assessed for that rider, if purchased separately. Please note also that if you reset the guaranteed amount of the IPP Rider, the IPP Rider charges will increase. (See "CHARGES AND DEDUCTIONS — Optional Benefit Expenses — Investment Protection Plan Rider/Annual Death Benefit Reset Rider Package Charge" for more details.)

***Investment Protection Plan II Rider***

The Investment Protection Plan II Rider ("IPP II") can only be purchased at the time of application. If you purchased IPP II, you will be eligible to receive a one–time adjustment to your Accumulation Value in the event that your Accumulation Value is less than the amount guaranteed under IPP II on the 12th Policy Anniversary of the effective date of IPP II (or the 12th policy anniversary of any reset of IPP II). IPP II will end on the 12th Policy Anniversary of the rider effective date (or any reset of IPP II). While IPP II is in effect, we will deduct a charge from your Accumulation Value on each policy quarter. (See "CHARGES AND DEDCUTIONS—Optional Benefit Expenses—Investment Protection Plan II Rider Charge.") When you make a partial withdrawal, we will reduce the amount that is guaranteed under IPP II by the amount of the proportional withdrawal ("IPP II Proportional Withdrawal"). An IPP II Proportional Withdrawal is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the amount that is guaranteed immediately preceding the withdrawal.

Please note that benefits payable under IPP II are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third-party guarantees are involved.

*The amount that is guaranteed under IPP II is as follows:* 

&nbsp;&nbsp;&nbsp;&nbsp;(i) At the time of application: The amount that is guaranteed will equal the initial premium payment and any Premium Credit thereon plus any additional premium payments, Premium Credits and Breakpoint Credits, if any, thereon we receive in the first Policy Year, less all IPP II Proportional Withdrawals. Premium payments made after the first Policy Year will not be included in the amount that is guaranteed. IPP II will take effect on the Policy Date.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Resetting the guaranteed amount ("IPP II Rider Reset"): You may request to reset the amount that is guaranteed at any time while IPP II is in effect as long as you (oldest Owner, if the policy is jointly owned) and the Annuitant are age 78 or younger. To reset the guaranteed amount, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset. The amount that is guaranteed will equal the Accumulation Value on the next Policy Anniversary, less all IPP II Proportional Withdrawals taken after the reset. We may also set a new charge (not to exceed the guaranteed maximum charge in the "FEE TABLE") for IPP II and the Rider Risk Charge Adjustment on that Policy Anniversary. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan II Rider Charge" and "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge).") In addition, upon reset, your allocation restrictions may change. Typically, you would request a reset in order to increase the guaranteed amount under IPP II. Please note that if you reset the guaranteed amount under IPP II, you will not be eligible to receive a one–time adjustment to your Accumulation Value until the 12th policy anniversary after the effective date of any reset. Please contact your registered representative for more information.

A policyowner may cancel a request to reset the guaranteed amount at any time prior to or within 30 days after the effective date of the reset. If you cancel your request to reset, no change will be made to IPP II's effective date, maturity date, charge rate or the Rider Risk Charge Adjustment, if applicable.

You will only be allowed to allocate your premium payments to certain Allocation Options and the DCA Advantage Account. You may not allocate more than 25% of your initial premium payment to the Fixed Account**. The Fixed Account is not available for policies issued in the State of New York. In addition, the Fixed Account is not** 

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**available in the State of Washington if the IPP II Rider is selected.** The allowable Allocation Options under IPP II are listed in *APPENDIX 2B* to this Prospectus.

The Investment Division restrictions associated with the IPP II Rider seek to moderate overall volatility or hedge against down market volatility, and may limit your participation in positive investment performance. Other investment options that are available if you do not select the IPP II Rider may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with the IPP II Rider meet your investment objectives and risk tolerance.

With IPP II, you do not have to surrender the policy to receive any applicable benefit. You will be eligible to receive the benefit (if applicable) under IPP II on the 12th Policy Anniversary after the later of the Policy Date or the effective date of any reset. You do not need to take any action. We will inform you in writing if you are eligible to receive a one–time adjustment to your Accumulation Value. We will also inform you of your options if such one–time adjustment is made to your Accumulation Value which are to (i) surrender the policy and receive the adjusted Accumulation Value (which may be subject to surrender charges), or (ii) continue the policy at the adjusted Accumulation Value, which is subject to market fluctuation. If you are eligible to receive an adjustment, we will credit an amount to your Accumulation Value pro rata in accordance with your allocations currently on file. If you surrender the policy, amounts paid to you under the terms of IPP II may be taxable and you may be subject to a 10% tax penalty if such amounts are paid before you reach age 59½.

You may cancel IPP II within 30 days after delivery of the policy. To cancel, you must return IPP II to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel IPP II and refund any IPP II charges which may have been deducted. After this 30–day period, you still have the right to discontinue IPP II. However, we will deduct a Rider Risk Charge Adjustment from your Accumulation Value and we will not refund any IPP II charges that may have been deducted. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge).") The cancellation of IPP II after the 30–day period will be effective as of the date VPSC receives your cancellation request.

IPP II is available with all Non–Qualified policies, IRA, SEP IRA, Simple IRA and Roth IRA policies if the policyowner is age 75 or younger on the rider effective date. The rider is not available on TSA and Inherited IRA policies.

IPP II will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to receive a potential one–time adjustment to your Accumulation Value. Therefore, you should purchase IPP II only if you intend to keep the policy for at least 12 years.

Any withdrawal reduces the guaranteed amount and the amount of charges assessed for IPP II. However, please note that charges assessed for IPP II prior to the date of any withdrawals (including required minimum distributions from IRAs) will not be retroactively adjusted.

We have set forth below an example of how the benefit from IPP II may be realized and how withdrawals (including required minimum distributions from IRAs) will impact the guaranteed amount. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPP II is selected at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) A Credit of $4,000 (based on the Premium Credit Rate at time of application) is applied to your policy;

&nbsp;&nbsp;&nbsp;&nbsp;(4) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(5) A withdrawal of $20,000 is made in the eighth policy year;

&nbsp;&nbsp;&nbsp;&nbsp;(6) The Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(7) The Accumulation value on the 12th Policy Anniversary has decreased to $50,000.

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The guaranteed amount at the time of application was $104,000. When the withdrawal was made in the eighth Policy Year, we reduced the guaranteed amount by the amount of the IPP II Proportional Withdrawal. We calculated the amount of the IPP II Proportional Withdrawal by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the guaranteed amount immediately preceding the withdrawal.

IPP II Proportional Withdrawal = ($20,000/$80,000) x $104,000 = $26,000

To determine the new guaranteed amount after the withdrawal, we subtracted the amount of the IPP II Proportional Withdrawal from the initial guaranteed amount: ($104,000 – $26,000) = $78,000. On the 12th Policy Anniversary the Accumulation Value ($50,000) is less than the guaranteed amount of $78,000. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $28,000 and the rider will end. You would not have been eligible to receive this adjustment to your Accumulation Value if you had not purchased the IPP II Rider.

***Investment Protection Plan II Rider/Annual Death Benefit Reset Rider Package***

If you purchased the Investment Protection Plan II Rider/Annual Death Benefit Reset Rider combination package ("IPP II + ADBR") when you applied for your policy, you will receive both the ADBR and IPP II Riders at a reduced cost. Please note that if IPP II is cancelled, the charge for the ADBR Rider will revert to the charge that is assessed for that rider, if purchased separately. Please note also that if you reset the guaranteed amount of the IPP II Rider, the IPP II Rider charges will increase. (See "CHARGES AND DEDUCTIONS — Optional Benefit Expenses — Investment Protection Plan II Rider/Annual Death Benefit Reset Rider Package Charge" for more details.)

***Guaranteed Investment Protection Rider***

The Guaranteed Investment Protection Rider ("GIPR") can only be purchased at the time of application. If you purchased GIPR, you will be eligible to receive a one–time adjustment to your Accumulation Value in the event that your Accumulation Value is less than the amount guaranteed under GIPR on the 12th Policy Anniversary of the effective date of GIPR (or the 12th Policy Anniversary of any reset of GIPR). GIPR will end on the 12th Policy Anniversary of the rider effective date (or the 12<sup>th</sup> Policy Anniversary of the most recent reset of GIPR). While GIPR is in effect, we will deduct a charge from your Investment Divisions and DCA Advantage Account on a pro–rata basis on each policy quarter. (See "CHARGES AND EXPENSES—Optional Benefit Expenses—GIPR") When you make a partial withdrawal, we will reduce the amount that is guaranteed under GIPR by the amount of the proportional withdrawal ("GIPR Proportional Withdrawal"). A GIPR Proportional Withdrawal is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the amount that is guaranteed immediately preceding the withdrawal.

Please note that benefits payable under GIPR are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third-party guarantees are involved.

***The amount that is guaranteed under GIPR is as follows:*** 

&nbsp;&nbsp;&nbsp;&nbsp;(i) At the time of application: The amount that is guaranteed will equal the initial premium payment and any Premium Credit thereon plus any additional premium payments, Premium Credits and Breakpoint Credits, if any, thereon we receive in the first Policy Year, less all GIPR Proportional Withdrawals. Premium payments made after the first Policy Year will not be included in the amount that is guaranteed. GIPR will take effect on the Policy Date.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Resetting the guaranteed amount ("GIPR Rider Reset"): You may request to reset the amount that is guaranteed at any time while GIPR is in effect as long as you (oldest Owner, if the policy is jointly owned) and the Annuitant are age 78 or younger. To reset the guaranteed amount, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset. The amount that is guaranteed will equal the Accumulation Value on the next Policy Anniversary, less all GIPR Proportional Withdrawals taken after the reset. We may also set a new charge (not to exceed the guaranteed maximum charge in the "FEE TABLE") for GIPR and the Rider Risk Charge Adjustment on that Policy Anniversary. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Guaranteed Investment Protection Rider Charge" and "CHARGES AND DEDUCTIONS—Optional

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Benefit Expenses—Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge).") In addition, upon reset, your allocation restrictions may change. Typically, you would request a reset in order to increase the guaranteed amount under GIPR. Please note that if you reset the guaranteed amount under GIPR, you will not be eligible to receive a one–time adjustment to your Accumulation Value until the 12th policy anniversary after the effective date of any reset. **We can suspend or discontinue the ability to reset the amount that is guaranteed at any time in our sole discretion on a nondiscriminatory basis. If we decide to suspend or discontinue the ability to reset the amount that is guaranteed, we will promptly notify you in writing.** Please contact your registered representative for more information.

A policyowner may cancel a request to reset the guaranteed amount at any time prior to or within 30 days after the effective date of the reset. If you cancel your request to reset, no change will be made to GIPR's effective date, maturity date, charge rate or the Rider Risk Charge Adjustment.

You will be allowed to allocate your premium payments to the Allocation Options and the DCA Advantage Account subject to the restrictions set forth in APPENDIX 2C. You may not allocate any monies to the Fixed Account while GIPR is in effect. Upon any termination of GIPR, the Fixed Account will be an available investment option. Also, Traditional DCA is not available with GIPR. **The Fixed Account is not available for policies issued in the State of New York.** If you select GIPR, Investment Division restrictions will apply to the Investment Divisions that you may choose during the accumulation phase. These restrictions will limit the amount you can allocate to the Investment Divisions. You may allocate your premium payment to Investment Divisions in the Asset Allocation Categories in accordance with the specified thresholds, or to one of the available Asset Allocation Models. Individual transfers between Investment Divisions, the DCA Advantage Account and/or available Asset Allocation Models are not allowed. Each policy quarter, we will automatically rebalance your current allocations to conform to your most recent allocation instructions. If you wish to complete an individual transfer between the Investment Divisions, or change to a different Asset Allocation Model (if available), you must send a reallocation form to the VPSC at one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus. **The Asset Allocation Categories and the Asset Allocation Models available with GIPR are set forth in *APPENDIX 2C.*** 

The Investment Division restrictions associated with the GIPR Rider seek to moderate overall volatility or hedge against down market volatility, and may limit your participation in positive investment performance. Other investment options that are available if you do not select the GIPR Rider may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with the GIPR Rider meet your investment objectives and risk tolerance.

With GIPR, you do not have to surrender the policy to receive any applicable benefit. You will be eligible to receive the benefit (if applicable) under GIPR on the 12th Policy Anniversary after the later of the Policy Date or the effective date of any reset. You do not need to take any action. We will inform you in writing if you are eligible to receive a one–time adjustment to your Accumulation Value. We will also inform you of your options if such one–time adjustment is made to your Accumulation Value which are to (i) surrender the policy and receive the adjusted Accumulation Value (which may be subject to surrender charges), or (ii) continue the policy at the adjusted Accumulation Value, which is subject to market fluctuation. If you are eligible to receive an adjustment, we will credit an amount to your Accumulation Value pro rata in accordance with your allocations currently on file. If you surrender the policy, amounts paid to you under the terms of GIPR may be taxable and you may be subject to a 10% tax penalty if such amounts are paid before you reach age 59½.

You may cancel GIPR within 30 days after delivery of the policy. To cancel, you must return GIPR to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel GIPR and refund any GIPR charges which may have been deducted. After this 30–day period, you still have the right to discontinue GIPR. However, we will deduct a Rider Risk Charge Adjustment from your Investment Divisions and DCA Advantage Account on a pro–rata basis and we will not refund any GIPR charges that may have been deducted. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge).") Certain jurisdictions may not permit us to assess a Rider Risk Charge Adjustment; for more information, contact your registered representative or see "APPENDIX 3 – State Variations". The cancellation of GIPR after the 30–day period will be effective as of the date VPSC receives your cancellation request. You should consider the cost of cancelling GIPR prior to purchasing it.

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GIPR is available with all Non–Qualified, IRA, SEP IRA, Simple IRA, Roth IRA, Keogh and Pension policies if the policyowner is age 75 or younger on the rider effective date. The rider is not available on TSA and Inherited IRA policies.

GIPR will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to receive a potential one–time adjustment to your Accumulation Value. Therefore, you should purchase GIPR only if you intend to keep the policy for at least 12 years.

Upon your death, GIPR and the policy will terminate unless your spouse chooses to continue the policy. Your spouse must be the sole primary beneficiary in order to continue GIPR and the policy. If your spouse chooses to continue GIPR and the policy, no death benefit proceeds will be paid upon your death.

Any withdrawal reduces the guaranteed amount and the amount of charges assessed for GIPR. While GIPR is in effect, partial withdrawals will be deducted pro rata from the Allocation Options and/or the DCA Advantage Account. However, please note that charges assessed for GIPR prior to the date of any withdrawal (including required minimum distributions from IRAs) will not be retroactively adjusted.

We have set forth below an example of how the benefit from GIPR may be realized and how withdrawals (including required minimum distributions from IRAs) will impact the guaranteed amount. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) GIPR is selected at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) A Credit of $4,000 (based on the Premium Credit Rates at the time of application) is applied to your policy;

&nbsp;&nbsp;&nbsp;&nbsp;(4) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(5) A withdrawal of $20,000 is made in the eighth policy year;

&nbsp;&nbsp;&nbsp;&nbsp;(6) The Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(7) The Accumulation value on the 12th Policy Anniversary has decreased to $50,000.

The guaranteed amount at the time of application was $104,000. When the withdrawal was made in the eighth Policy Year, we reduced the guaranteed amount by the amount of the GIPR Proportional Withdrawal. We calculated the amount of the GIPR Proportional Withdrawal by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the guaranteed amount immediately preceding the withdrawal.

GIPR Proportional Withdrawal = ($20,000/$80,000) x $104,000 = $26,000

To determine the new guaranteed amount after the withdrawal, we subtracted the amount of the GIPR Proportional Withdrawal from the initial guaranteed amount: ($104,000 – $26,000) = $78,000. On the 12th Policy Anniversary the Accumulation Value ($50,000) is less than the guaranteed amount of $78,000. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $28,000 and the rider will end. You would not have been eligible to receive this adjustment to your Accumulation Value if you had not purchased the GIPR Rider.

***Guaranteed Investment Protection Rider 2.0***

The Guaranteed Investment Protection Rider 2.0 ("GIPR 2.0") can only be purchased at the time of application. GIPR 2.0 allows you to choose among 5 different holding periods, or terms. If you purchased GIPR 2.0, you will be eligible to receive a one–time adjustment to your Accumulation Value in the event that your Accumulation Value is less than the amount guaranteed under GIPR 2.0 on the applicable policy anniversary of the rider effective date (or most recent reset date) for the term you choose. You may request to reset the guaranteed amount under certain circumstances, as described below. Certain features of GIPR 2.0 relating to the 20 year rider term may not be available in all jurisdictions; contact your registered representative for more information.

GIPR 2.0 will end on the applicable policy anniversary of the rider effective date (or most recent reset date) for the term you choose. The applicable policy anniversary depends on the term you choose. While GIPR 2.0 is in effect, we

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will deduct a charge from your Investment Divisions and DCA Advantage Account on a pro–rata basis on each policy quarter. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Guaranteed Investment Protection Rider 2.0 Charge.") When you make a withdrawal, we will reduce the amount that is guaranteed under GIPR 2.0 by the amount of the proportional withdrawal ("GIPR 2.0 Proportional Withdrawal"). A GIPR 2.0 Proportional Withdrawal is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the amount that is guaranteed immediately preceding the withdrawal.

Please note that benefits payable under GIPR 2.0 are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third-party guarantees are involved.

The amount that is guaranteed under GIPR 2.0 is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(i) At the time of application for 12, 13, 14, or 15 year terms: The amount that is guaranteed will equal 100% of the sum of all premium payments and Premium Credits thereon that we receive in the first Policy Year, less all GIPR 2.0 Proportional Withdrawals.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) At the time of application for the 20 year term: The amount that is guaranteed will equal 150% of the sum of all premium payments, and Premium Credits thereon that we receive in the first Policy Year, less all GIPR 2.0 Proportional Withdrawals.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) For all terms, premium payments made after the first Policy Year will not be included in the amount that is guaranteed. GIPR 2.0 will take effect on the Policy Date.

&nbsp;&nbsp;&nbsp;&nbsp;(iv) Resetting the guaranteed amount ("GIPR 2.0 Rider Reset"):

You may request to reset the amount that is guaranteed at any time while GIPR 2.0 is in effect as long as you (oldest Owner, if the Policy is jointly owned) and the Annuitant are age 75 or younger (for the 12, 13, 14 and 15 year terms), or age 70 or younger (for the 20 year term). To reset the guaranteed amount, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset. The amount that is guaranteed will be increased to equal the Accumulation Value (for 12–15 year terms) or 150% of the Accumulation Value (for the 20 year term), on the next Policy Anniversary, less all GIPR 2.0 Proportional Withdrawals taken after the reset. We may also set a new charge (not to exceed the guaranteed maximum charge in the "FEE TABLE") for GIPR 2.0 and the Rider Risk Charge Adjustment on that Policy Anniversary. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Guaranteed Investment Protection Rider 2.0 Charge" and "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge)."). In addition, upon reset, your allocation restrictions may change. Typically, you would decide to reset in order to increase the guaranteed amount under GIPR 2.0. Please note that if you reset the guaranteed amount under GIPR 2.0, you will not be eligible to receive a one–time adjustment to your Accumulation Value until the Policy Anniversary applicable to the original rider term you chose after the effective date of any reset. **We can suspend or discontinue the ability to reset the amount that is guaranteed at any time in our sole discretion on a nondiscriminatory basis. If we decide to suspend or discontinue the ability to reset the amount that is guaranteed, we will promptly notify you in writing.** Please contact your registered representative for more information.

A policyowner may cancel a request to reset the guaranteed amount at any time prior to or within 30 days after the effective date of the reset. If you cancel your request to reset, no change will be made to GIPR 2.0's effective date, maturity date, charge rate or the Rider Risk Charge Adjustment.

If you purchase GIPR 2.0, you will be allowed to allocate your premium payments to the Allocation Options and the DCA Advantage Account subject to the restrictions set forth in APPENDIX 2C.

You may not allocate any monies to the Fixed Account while GIPR 2.0 is in effect. Upon any termination of GIPR 2.0, the Fixed Account will be an available investment option. Also, Traditional DCA is not available with GIPR 2.0. **The Fixed Account is not available for policies issued in the State of New York.** 

If you select GIPR 2.0, we will limit the amount you can allocate to the Investment Divisions. You may allocate your premium payment to Investment Divisions in the Asset Allocation Categories in accordance with the specified

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thresholds, or to one of the available 2014 Asset Allocation Models. Individual transfers between Investment Divisions, the DCA Advantage Account and/or available Asset Allocation Models are not allowed. If you wish to complete an individual transfer between the Investment Divisions, or change to a different Asset Allocation Model (if available), you must send a reallocation form to the VPSC at one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus. Each policy quarter, we will automatically rebalance your current allocations to conform to your most recent allocation instructions. The Investment Division restrictions associated with the GIPR 2.0 Rider seek to moderate overall volatility or hedge against down market volatility, and may limit your participation in positive investment performance. Other investment options that are available if you do not select the GIPR 2.0 Rider may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with GIPR 2.0 meet your investment objectives and risk tolerance. **The Asset Allocation Categories and the Asset Allocation Models available with GIPR 2.0 are set forth in *APPENDIX 2C.*** 

If you choose to reset your guaranteed amount, the restrictions on investment allocations may change. These changes could include an adjustment to the minimum and/or maximum allocation percentages available under the Asset Allocation Categories, adding or removing Asset Allocation Categories, adding or removing Asset Allocation Models, or discontinuing the availability of the DCA Advantage Account.

With GIPR 2.0, you do not have to surrender the policy to receive any applicable benefit. You will be eligible to receive the benefit (if applicable) on the Policy Anniversary for the term you chose after the later of the Policy Date or the most recent reset date. You do not need to take any action. We will inform you in writing if you are eligible to receive a one–time adjustment to your Accumulation Value. We will also inform you of your options if such one–time adjustment is made to your Accumulation Value which are to (i) surrender the policy and receive the adjusted Accumulation Value (which may be subject to surrender charges), or (ii) continue the policy at the adjusted Accumulation Value, which is subject to market fluctuation. If you are eligible to receive an adjustment, we will credit an amount to your Accumulation Value pro rata in accordance with your allocations currently on file. If you surrender the policy, amounts paid to you under GIPR 2.0 may be taxable and you may be subject to a 10% tax penalty if such amounts are paid before you reach age 59½.

You may cancel GIPR 2.0 within 30 days after delivery of the policy. To cancel, you must return GIPR 2.0 to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel GIPR 2.0 and refund any GIPR 2.0 charges which may have been deducted. After this 30–day period, you still have the right to discontinue GIPR 2.0. However, we will deduct a Rider Risk Charge Adjustment from your Investment Divisions and DCA Advantage Account on a pro–rata basis and we will not refund any GIPR 2.0 charges that may have been deducted. (See "CHARGES AND DEDUCTIONS—Optional Benefit Expenses—Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge).") Certain jurisdictions may not permit us to assess a Rider Risk Charge Adjustment; for more information, contact your registered representative or see "APPENDIX 3 – State Variations". The cancellation of GIPR 2.0 after the 30–day period will be effective as of the date VPSC receives your cancellation request. You should consider the cost of cancelling GIPR prior to purchasing it.

GIPR 2.0 is available with all Non–Qualified, IRA, SEP IRA, Simple IRA, Roth IRA, Keogh and Pension policies if the policyowner is age 75 or younger (70 or younger for the 20–year term) on the rider effective date. The rider is not available on TSA and Inherited IRA policies.

GIPR 2.0 will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to receive a potential one–time adjustment to your Accumulation Value. Therefore, you should purchase GIPR 2.0 only if you intend to keep the policy for at least the rider term you choose (12–15 or 20 years).

In most jurisdictions, GIPR 2.0 will terminate if an ownership change or assignment of the policy is made, other than as explicitly described in the rider. However, for policies issued in New York and California, we will not terminate GIPR 2.0 upon a change of ownership or an assignment.

Upon your death, GIPR 2.0 and the policy will terminate unless your spouse chooses to continue the policy. Your spouse must be the sole primary beneficiary in order to continue GIPR 2.0 and the policy. If your spouse chooses to continue GIPR 2.0 and the policy, no death benefit proceeds will be paid upon your death.

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Any withdrawal reduces the guaranteed amount and the amount of charges assessed for GIPR 2.0. While GIPR 2.0 is in effect, withdrawals will be deducted pro rata from the Allocation Options and/or the DCA Advantage Account. However, please note that charges assessed for GIPR 2.0 prior to the date of any withdrawal (including required minimum distributions from IRAs) will not be retroactively adjusted. **It is important to note that if you take any withdrawals (including required minimum distributions from IRAs) while GIPR 2.0 is in effect, you may not be able to receive the full value of GIPR 2.0. The reduction in the Guaranteed Amount may be significant and could be greater than the actual amount withdrawn. This may occur when you request a withdrawal at a time when your Accumulation Value is lower than the Guaranteed Amount (see example below). As a result, GIPR 2.0 may not be appropriate for you if you intend to take withdrawals (including required minimum distributions from IRAs) before the end of the rider term you choose. You should consult your tax advisor if you have any questions about the use of GIPR 2.0 in your tax situation.** 

We have set forth below an example of how the benefit from GIPR 2.0 may be realized and how withdrawals (including required minimum distributions from IRAs) will impact the guaranteed amount and how we calculate the GIPR 2.0 Proportional Withdrawal. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) GIPR 2.0 with a 12, 13, 14, or 15 year term is selected at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) A Credit of $4,000 (based on the Premium Credit Rates at the time of application) is applied to your policy;

&nbsp;&nbsp;&nbsp;&nbsp;(4) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(5) A withdrawal of $20,000 is made in the eighth policy year;

&nbsp;&nbsp;&nbsp;&nbsp;(6) The Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(7) The Accumulation Value on the Policy Anniversary corresponding to the term you chose has decreased to $50,000.

The guaranteed amount when we issued the policy was $104,000. When the withdrawal was made in the eighth Policy Year, we reduced the guaranteed amount by the amount of the GIPR 2.0 Proportional Withdrawal. We calculated the amount of the GIPR 2.0 Proportional Withdrawal by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the guaranteed amount immediately preceding the withdrawal.

GIPR 2.0 Proportional Withdrawal = ($20,000/$80,000) x $104,000 = $26,000

To determine the new guaranteed amount after the withdrawal, we subtracted the amount of the GIPR 2.0 Proportional Withdrawal from the initial guaranteed amount: ($104,000 – $26,000) = $78,000.

On the Policy Anniversary for the term you chose, the Accumulation Value ($50,000) is less than the guaranteed amount of $78,000. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $28,000.

If you had chosen the 20–year term, the guaranteed amount would have been $117,000 (150% of $78,000), and the one-time adjustment would be $67,000.

After the adjustment is paid, the rider will end. You would not have been eligible to receive this adjustment to your Accumulation Value if you had not purchased the GIPR 2.0 Rider.

*GIPR 2.0 Death Benefit*

If the policyowner dies within two Policy Years of the last day of the Rider term then in effect, the death benefit will equal the guaranteed amount for that Rider term, if that guaranteed amount is higher than the Accumulation Value or Adjusted Death Benefit Premium Payments on the date of death. For policies issued in New York, the death benefit for the 20–year rider term is 100% of the premium payments made in the first policy year (less any GIPR 2.0 Proportional Withdrawals) if that amount is higher than the death benefit available under the policy. However, if there is an ADBR Rider in effect, and the death benefit under the ADBR Rider is higher than the Accumulation Value or the

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GIPR 2.0 guaranteed amount, we will pay the death benefit available under the ADBR Rider. Payment of a death benefit terminates the GIPR 2.0 rider.

***Guaranteed Investment Protection Rider or Guaranteed Investment Protection Rider 2.0/Annual Death Benefit Reset Rider Package***

If you purchased the Guaranteed Investment Protection Rider/Annual Death Benefit Reset Rider ("GIPR + ADBR") or the Guaranteed Investment Protection Rider 2.0/Annual Death Benefit Reset Rider combination package ("GIPR 2.0 + ADBR") when you applied for your policy, you will receive both the ADBR and GIPR or GIPR 2.0 Riders at a reduced cost. Please note that if GIPR or GIPR 2.0 is cancelled, the charge for the ADBR Rider will revert to the charge that is assessed for that rider, if purchased separately. Please note also that if you reset the guaranteed amount of your GIPR or GIPR 2.0 Rider, the rider charge will increase. (See "CHARGES AND DEDUCTIONS — Optional Benefit Expenses — Guaranteed Investment Protection Rider 2.0/Annual Death Benefit Reset Rider Package Charge" for more details.)

***Living Needs Benefit/Unemployment Rider***

This rider is available at no additional cost. Rider benefits and requirements to qualify for the rider benefits may not be the same in all jurisdictions. We include a Living Needs Benefit/Unemployment Rider for all types of policies. In Connecticut, the rider is named the "Living Needs Benefit Rider" and the Unemployment and Disability portions of the rider are not available. In New York, the rider is named "Waiver Of Surrender Charges For Living Needs Qualifying Events" and the Unemployment portion of the rider is not available. In New Jersey, the rider is named the "Living Needs Benefit Rider" and the Unemployment portion of the rider is not available.

The Living Needs Benefit/Unemployment Rider will waive all surrender charges (or a portion of surrender charges in the case of Unemployment), if you provide satisfactory proof that the Owner has experienced a Qualifying Event (as defined below). In order to receive the benefit associated with this rider, your policy must have been in force for at least one year and have a minimum Accumulation Value of $5,000 and the Qualifying Event must occur on or after the Policy Date. For the Disability portion of the rider, any withdrawal after your 66<sup>th</sup> birthday will not be eligible for the rider benefit and surrender charges may apply. For the Unemployment portion of the rider, we will waive surrender charges on a one-time withdrawal of up to 50% of your Accumulation Value. Surrender charges will apply on amounts withdrawn in excess of that amount and on subsequent withdrawals. In addition, none of the benefits of this rider are available for policies where any Owner(s) has attained their 86<sup>th</sup> birthday on the Policy Date. If the Owner(s) is not a natural person, all restrictions and benefits of the rider are based on the Annuitant.

The types of Qualifying Events are defined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(a) Health Care Facility (defined as a state licensed/certified nursing home/assisted living facility): The Owner is enrolled and living in a Health Care Facility for 60 consecutive days.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Terminal Illness: A determination by a licensed physician that the Owner has a life expectancy of 12 months or less.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Disability: A determination by a licensed physician that the Owner has a disability that prevents them from performing any work for pay or profit for at least 12 consecutive months. We may require proof of continued disability as of the date of the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Unemployment: A determination letter from the applicable state's Department of Labor that the Owner qualifies for and has been receiving state unemployment benefits for 60 consecutive days.

A Health Care Facility is defined as a state licensed/certified nursing home/assisted living facility. In addition, we may also require proof of continued disability as of the date of the withdrawal.

For example, if an Owner with $100,000 in Accumulation Value experiences one of the Qualifying Events described in (a) – (c) above in Policy Year 3, he or she will be able to take withdrawals from his or her policy without having to pay a surrender charge on such withdrawals for as long as the Owner satisfies the conditions of eligibility. If the Owner were to experience the Qualifying Event of Unemployment in (d) in Policy Year 3, he or she would be able to make a one-time withdrawal of up to $50,000 without having to pay a surrender charge on such withdrawal. If he or

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she were to withdraw in excess of $50,000, he or she would pay a surrender charge on the amount exceeding $50,000 and on any subsequent withdrawals.

You will be able to receive benefits under this rider the later of the date you meet the above requirements or the date we receive your documentation in Good Order at the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

***Living Needs Benefit Rider***

This rider is available at no additional cost. Rider benefits and requirements to qualify for the rider benefits may not be the same in all jurisdictions. If the Annuitant enters a nursing home, becomes terminally ill or disabled, you, the policyowner, may be eligible to receive all or a portion of the Accumulation Value without paying a surrender charge. The policy must have been in force for at least one year and have a minimum Accumulation Value of $5,000. We must be provided with proof that the Annuitant has spent 60 or more consecutive days in a nursing home, is terminally ill or disabled. Withdrawals will be taxable to the extent of gain and, prior to age 59½, may be subject to a 10% IRS penalty. This rider is in effect in all jurisdictions where approved. To qualify for the disability benefit of this rider, the Annuitant must be classified as disabled by the Social Security Administration. You, the policyowner, are no longer eligible for the disability benefit once the Annuitant begins collecting Social Security retirement benefits. The rider will be effective the later of the date you meet the above requirements or the date we receive your documentation in a form acceptable to us at the VPSC.

For example, if an Owner with $100,000 in Accumulation Value experiences one of the Qualifying Events described above in Policy Year 3, he or she will be able to take withdrawals from his or her policy without having to pay a surrender charge on such withdrawals for as long as the Owner satisfies the conditions of eligibility.

***Unemployment Benefit Rider***

This rider is available at no additional cost. Rider benefits and requirements to qualify for the rider benefits may not be the same in all jurisdictions. For all Non-Qualified, IRA, SEP IRA, Roth IRA, Inherited IRA, and SIMPLE IRA policies, if you become unemployed, you may be eligible to increase the amount that can be withdrawn from your policy to 50% of the policy's Accumulation Value without paying surrender charges. This rider can only be used once. The policy must have been in force for at least one year and have a minimum Accumulation Value of $5,000. You also must have been unemployed for at least 60 consecutive days. Withdrawals may be taxable transactions and, prior to age 59½, may be subject to a 10% IRS penalty. To apply for this benefit, you must submit a determination letter from the applicable state's Department of Labor indicating that you qualify for and are receiving unemployment benefits. The rider will be effective the later of the date you meet the above requirements or the date we receive your notification at the VPSC.

For example, if the Owner becomes unemployed in Policy Year 3 and has $100,000 in Accumulation Value, he or she would be able to make a one-time withdrawal of up to $50,000 without having to pay a surrender charge on such withdrawal. If he or she were to withdraw in excess of $50,000, he or she would pay a surrender charge on the amount exceeding $50,000, and on any subsequent withdrawals.

***Breakpoint Credit Rider (available only for policies purchased before July 1, 2013)***

Under the Breakpoint Credit Rider, we will apply a Breakpoint Credit to that portion of the total amount of all premium payments that exceed $1,000,000, subject to the Breakpoint Credit Rate schedule that is in effect at the time such premium payment is made. The Breakpoint Credit is calculated as a percentage of that portion of an Eligible Premium Payment made to the policy. An Eligible Premium Payment is that portion of the total amount of all premium payments made to the policy in excess of $1,000,000. There is no additional charge for this rider.

The Breakpoint Credit applicable to a premium payment varies, depending on the total amount of the premium payment(s) received under the policy. The Breakpoint Credit is determined by multiplying each portion of an Eligible Premium Payment amount by the applicable Breakpoint Credit Rate, in accordance with the Breakpoint Credit Rate Schedule attached below. If more than one Breakpoint Credit Rate applies for an Eligible Premium Payment, the Breakpoint Credit is equal to the sum of the Breakpoint Credit amounts determined for each applicable Breakpoint Credit Rate.

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As of the date of this Prospectus, the Breakpoint Credit Rates and Eligible Premium Payment(s) to which they apply are as follows:

**<u>Breakpoint Credit Rate Schedule</u>** 

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| | | |
|:---|:---|:---|
| **Eligible Premium Payment(s)** | **Eligible Premium Payment(s)** | **Eligible Premium Payment(s)** |
| **That exceed(s)** | **Up to and including** | **Breakpoint Credit Rate** |
| &nbsp;&nbsp;&nbsp; $1,000,000\* | &nbsp;&nbsp;&nbsp;&nbsp; $2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.00<br> %<br>|
| &nbsp;&nbsp;&nbsp; $2500000 | &nbsp;&nbsp;&nbsp;&nbsp; $5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.50<br> %<br>|
| &nbsp;&nbsp;&nbsp; $5000000 | &nbsp;&nbsp;&nbsp;&nbsp; $10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.00<br> %<br>|
| &nbsp;&nbsp;&nbsp; $10000000 | &nbsp;&nbsp;&nbsp;&nbsp; unlimited | &nbsp;&nbsp;&nbsp;&nbsp; 2.50<br> %<br>|

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\*

Premium Payments in excess of $2,000,000 are subject to prior approval by NYLIAC.

The Breakpoint Credit is applied to the Policy's Accumulation Value concurrent with an Eligible Premium Payment. Breakpoint Credits and interest credited thereon are allocated to the same Allocation Options and/or the DCA Advantage Account based on the same percentages used to allocate your premium payments. Breakpoint Credits that are allocated to the Fixed Account (if applicable) and/or the DCA Advantage Account and interest earned thereon are held in NYLIAC's General Account and invested by NYLIAC in accordance with applicable law.

Breakpoint Credits are allocated to the same Allocation Options based on the same percentages used to allocate your premium payments. We do not consider Breakpoint Credits to be premium payments for purposes of any discussion in this Prospectus. Breakpoint Credits are also not considered to be your investment in the policy for tax purposes.

Example:

&nbsp;&nbsp;&nbsp;&nbsp;(1) You elected the Breakpoint Credit Rider when you purchased the policy;

&nbsp;&nbsp;&nbsp;&nbsp;(2) You made a premium payment of $1,250,000;

&nbsp;&nbsp;&nbsp;&nbsp;(3) You are eligible for a Breakpoint Credit of 1% of $250,000 or $2,500;

&nbsp;&nbsp;&nbsp;&nbsp;(4) We apply 1,252,500 to your Allocation Options;

The Breakpoint Credit is funded by the reduction in sales and administrative costs that accrue from the sale of very large policies. As such, no additional fees or charges are passed along to policyowners in association with this credit.

***Automatic Asset Reallocation***

This optional benefit, which is available at no additional cost, allows you to maintain the percentage allocated to each Investment Division at a pre–set level. For example, you might specify that 50% of the Variable Accumulation Value of your policy be allocated to the NYLIM VP MacKay Convertible Investment Division and 50% of the Variable Accumulation Value be allocated to the NYLIM VP PineStone International Equity Investment Division. Over time, the fluctuations in each of these Investment Division's investment results will shift the percentages. If you elect the Automatic Asset Reallocation option, NYLIAC will automatically transfer your Variable Accumulation Value back to the percentages you specify. You may also utilize the Automatic Asset Reallocation Option if your Variable Accumulation Value is allocated to an Asset Allocation Model. You may choose to have reallocations made on your quarterly, semi–annual or annual policy anniversary.

To request Automatic Asset Reallocation, you must send a completed Automatic Asset Reallocation request form to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or use any other method we make available. The VPSC must receive the completed Automatic Asset Reallocation request form at least five Business Days before the date transfers are scheduled to begin. If we receive your completed Automatic Asset Reallocation request form for this option less than five Business Days prior to the date you request it to begin, the reallocation will begin on the next rebalancing date based on the rebalancing frequency you selected. Faxed and e–mailed requests are not currently accepted; however, we reserve the right to accept them at our discretion. You may

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modify an existing Automatic Asset Reallocation option by contacting us by phone at the number provided in the "CONTACTING NYLIAC" section of this Prospectus.

The minimum Accumulation Value required to elect this option is $2,500. We will suspend this feature automatically if the Separate Account Value is less than $2,500 on a reallocation date. Once the Separate Account Value equals or exceeds this amount, Automatic Asset Reallocation will resume automatically as scheduled. There is no minimum amount that you must allocate among the Investment Divisions under this option. Your Automatic Asset Reallocation may be cancelled if a premium allocation change or transfer is submitted on your behalf that is inconsistent with your current Automatic Asset Reallocation arrangements. You may prevent this cancellation if a conforming Automatic Asset Reallocation change is processed within one Business Day of the inconsistent premium allocation change or transfer.

You may cancel the Automatic Asset Reallocation option at any time. To cancel the Automatic Asset Reallocation option, you may send a written cancellation request in Good Order to the VPSC or contact us by phone or online as described in the "CONTACTING NYLIAC" section of this Prospectus. You may not elect the Automatic Asset Reallocation option if you have selected the traditional Dollar Cost Averaging option. However, you have the option of alternating between these two features.

***Dollar Cost Averaging Programs***

The main objective of dollar cost averaging is to achieve an average cost per Accumulation Unit that is lower than the average price per Accumulation Unit during volatile market conditions. Since you transfer the same dollar amount to an 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 per unit is low and fewer units if the value per unit is high. Dollar cost averaging does not assure a profit in rising markets 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 to make purchases during periods of varying price levels. We do not count transfers under dollar cost averaging as part of your 12 free transfers each Policy Year. There is no charge imposed for either of the Dollar Cost Averaging programs.

We have set forth below an example of how dollar cost averaging works. In the example, we have assumed that you want to transfer $100 from the NYLIM VP U.S. Government Money Market Investment Division to the NYLIM VP Dimensional U.S. Equity—Service Class Investment Division each month. Assuming the Accumulation Unit values below, you would purchase the following number of Accumulation Units:

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| | | | |
|:---|:---|:---|:---|
| **Month** | &nbsp;&nbsp; **Amount**<br> **Transferred**<br>| &nbsp;&nbsp; **Accumulation**<br> **Unit Value**<br>| &nbsp;&nbsp; **Accumulation Units**<br> **Purchased**<br>|
| 1 | $100 | $10.00 | 10.00 |
| 2 | $100 | $8.00 | 12.50 |
| 3 | $100 | $12.50 | 8.00 |
| 4 | $100 | $7.50 | 13.33 |
| Total | $400 | $38.00 | 43.83 |

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The average unit price is calculated as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| Total unit price | = | $38.00 | = | $9.50 |
| Number of months | = | 4 | = | $9.50 |

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The average unit cost is calculated as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| Total amount transferred | = | $400.00 | = | $9.13 |
| Total units purchased | = | 43.83  | = | $9.13 |

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In this example, with dollar cost averaging you would have paid an average of $9.13 per unit while the average price per unit during the purchase period was $9.50. Keep in mind that it is also possible for dollar cost averaging to result in a loss. For example, if Accumulation Unit Values had increased rapidly over the four-month period used in the example above, you would have achieved a lower average unit cost by making the entire purchase in the first month.

*Traditional Dollar Cost Averaging (not available with the IPP, IPP II, GIPR and GIPR 2.0 Riders)*

This option, which is available at no additional cost, permits systematic investing to be made in equal installments over various market cycles to help reduce risk. You may specify, prior to the Annuity Commencement Date, a specific dollar amount to be transferred from any Investment Division to any combination of Investment Divisions and/or the Fixed Account. Please note that for Premium based Base Contract Charge policies, amounts cannot be transferred to the Fixed Account (if applicable) You will specify the Investment Divisions to transfer money from, the Investment Divisions and/or Fixed Account to transfer money to, the amounts to be transferred, the date on which transfers will be made, subject to our rules, and the frequency of the transfers (monthly, quarterly, semi-annually or annually). You may not use traditional dollar cost averaging to make transfers into or from an Asset Allocation Model. You may not make transfers from the Fixed Account, but you may make transfers into the Fixed Account. Each transfer from an Investment Division must be at least $100. You must have a minimum Accumulation Value of $2,500 to elect this option. Once all money has been allocated to the Investment Divisions of your choice or the balance in the Investment Division you are transferring from is less than $100, the Dollar Cost Averaging option will cease. A new request must be submitted to reactivate this feature. NYLIAC may reduce the minimum transfer amount and minimum Accumulation Value at its discretion.

NYLIAC will make all Dollar Cost Averaging transfers on the day of each calendar month that you specify or on the next Business Day (if the day you have specified is not a Business Day). You may specify any day of the month except the 29th, 30th, or 31st. In order to process transfers under the Dollar Cost Averaging Option, the VPSC must have received a completed Dollar Cost Averaging request form in Good Order at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus no later than five Business Days prior to the date transfers are to begin. You may also process a Dollar Cost Averaging transfer by any other method we make available. If your Dollar Cost Averaging request form for this option is received less than five Business Days prior to the date you request it to begin, the transfers will begin on the day of the month you specify in the month following the receipt of your request. All completed Dollar Cost Averaging request forms must be sent to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion.

You may cancel the Dollar Cost Averaging option at any time. To cancel the Dollar Cost Averaging option, you must send a written cancellation request in Good Order to the VPSC or contact us by phone at the number provided in the "CONTACTING NYLIAC" section of this Prospectus. NYLIAC may also cancel this option if the Accumulation Value is less than $2,000, or such lower amount as we may determine. You may not elect the Dollar Cost Averaging option if you have selected the Automatic Asset Reallocation option. However, you have the option of alternating between these two features.

*The DCA Advantage Account*

This feature, which is available at no additional cost, permits you to set up automatic dollar cost averaging using the DCA Advantage Account when an initial premium payment or a subsequent premium payment is made. The DCA Advantage Account transfers amounts automatically to the Investment Divisions you choose in six monthly increments, as described below. We credit amounts in the DCA Advantage Account with interest. You can request the DCA Advantage Account in addition to the Traditional Dollar Cost Averaging, Automatic Asset Reallocation, or Interest Sweep. To set up a DCA Advantage Account, you must send a completed DCA Advantage Account request form in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

If you wish to allocate to the DCA Advantage Account, each premium payment you allocate to it must be **at least $5,000**. If your payment is less than the $5,000 minimum, it will not be allocated to the DCA Advantage Account. Instead, it will be automatically applied to the Investment Divisions that you have specified to receive transfers from the DCA Advantage Account. You must specify the Investment Divisions or available Asset Allocation Model into which transfers from the DCA Advantage Account are to be made. However, you may not select the DCA Advantage Account if its duration would extend beyond the Annuity Commencement Date. You may not make transfers from the DCA Advantage Account into the Fixed Account (if available). We do not count transfers out of the DCA Advantage

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Account as part of your 12 free transfers each Policy Year. Dollar cost averaging will begin one month from the date NYLIAC receives the premium payment and transfers will be made on the same day (on the next Business Day if the day is not a Business Day) each subsequent month for the duration of the DCA Advantage Account. If a transfer is scheduled to occur on a day that does not exist in a month, it will be processed on the last day of that month or on the next Business Day if the last day of that month is not a Business Day. 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 Advantage Account. For example, the amount of the first monthly transfer out of the DCA Advantage Account will equal 1/6 of the value of the DCA Advantage Account on the date of the transfer. The amount of each of the five remaining transfers will equal 1/5, 1/4, 1/3, 1/2, and the remainder of the balance, respectively, of the value of the DCA Advantage Account on the date of each transfer.

You may not have more than one DCA Advantage Account open at the same time. Accordingly, any subsequent premium payment we receive for a DCA Advantage Account that is already open will be allocated to that same DCA Advantage Account and will earn the same interest rate. The entire value of the DCA Advantage Account will be completely transferred to the Investment Divisions or Asset Allocation Model within the duration specified. For example, if you allocate an initial premium payment to the DCA Advantage Account under which the 6-month term will end on December 31 and you make a subsequent premium payment to the 6-month DCA Advantage Account before December 31, we will allocate the subsequent premium payment to the same 6-month DCA Advantage Account already opened and transfer the entire value of the 6-month DCA Advantage Account to the Investment Divisions or Asset Allocation Model by December 31 even though a portion of the money was not in that DCA Advantage Account for the entire 6-month period. If an additional premium payment of $5,000 or more is allocated to the DCA Advantage Account after the duration has expired, the DCA Advantage Account will be reactivated and will earn the interest rate in effect on the Business Day the new premium payment is received at the VPSC.

You can make partial withdrawals and transfers (in addition to the automatic transfers described above) from the DCA Advantage Account. We will make partial withdrawals and transfers first from the DCA Advantage Account Accumulation Value attributed to the initial premium payment and then from the DCA Advantage Account Accumulation Value attributed to subsequent allocations in the order received. However, we do not permit such transfers if GIPR or GIPR 2.0 is in effect.

**You cannot make transfers into the DCA Advantage Account from any Allocation Option.**

***Interest Sweep***

This optional benefit, which is available at no additional cost, allows the interest earned on monies allocated to the Fixed Account to be transferred from the Fixed Account to one or any combination of Investment Divisions or an available Asset Allocation Model. You must specify the Investment Divisions and/or Asset Allocation Model, the frequency of the transfers (monthly, quarterly, semi-annually, or annually), and the day of each calendar month to make the transfers (except the 29<sup>th</sup>, 30<sup>th</sup>, and 31<sup>st</sup> of a month). NYLIAC will make all Interest Sweep transfers on the day of each calendar month you have specified or on the next Business Day (if the day you have specified is not a Business Day). To request an Interest Sweep transfer, you must send an Interest Sweep request form in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The VPSC must receive a completed Interest Sweep request form at least five Business Days prior to the date transfers are scheduled to begin. If the VPSC does not receive a completed Interest Sweep request form within the five Business Days prior to the date you request it to begin, the transfer will begin on the day of the month you specify in the month following the receipt of your request.

The Interest Sweep option may be utilized in addition to traditional Dollar Cost Averaging, Automatic Asset Reallocation, or the DCA Advantage Account. With an Asset Allocation Model, the Interest Sweep option may be utilized with Automatic Asset Reallocation and the DCA Advantage Account. If an Interest Sweep transfer is scheduled for the same day as a transfer related to the traditional Dollar Cost Averaging option, the Automatic Asset Reallocation option or the DCA Advantage Account, we will process the Interest Sweep transfer first.

You may cancel the Interest Sweep option at any time. To cancel the Interest Sweep Option, you must send a written cancellation request in Good Order to the VPSC or contact us by telephone as described in the "CONTACTING NYLIAC" section of this Prospectus. We may also cancel this option if the Fixed Account Accumulation Value is less than $2,000, or such a lower amount as we may determine.

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To establish a new Interest Sweep transfer after the option has been cancelled, you must send an Interest Sweep request form in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. You may also process an Interest Sweep transfer by any other method we make available. The VPSC must receive an Interest Sweep request form in Good Order at least five Business Days prior to the date transfers are scheduled to begin. If the VPSC does not receive an Interest Sweep request form in Good Order at least five Business Days prior to the date you request it to begin, transfers will begin on the day of the month you specify in the month following the receipt of your request. Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion. The minimum Fixed Account Accumulation Value required to elect this option is $2,500, but this amount may be reduced at our discretion. Also note that Interest Sweep is not available for policies issued in the State of New York.

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**Charges And Deductions**

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***Transaction Expenses***

*Surrender Charges*

Since no deduction for a sales charge is made from each premium payment, we impose a surrender charge on certain partial withdrawals and surrenders of the policies. The surrender charge covers certain expenses relating to the sale of the policies, including commissions to registered representatives and other promotional expenses. We measure the surrender charge as a percentage of the amount withdrawn or surrendered. The surrender charge applies to certain amounts applied under certain Income Payment options.

If you surrender your policy, we deduct the surrender charge from the amount paid to you. If you make a partial withdrawal, you can direct NYLIAC to take surrender charges either from the remaining value of the Allocation Options from which the partial withdrawals are made, or from the amount paid to you. If you specify the Allocation Options from which to make the withdrawal, we will deduct the surrender charge pro-rata according to your instructions. If you do not specify the Allocation Options from which to make the withdrawal, we will deduct the surrender charge pro-rata from each Allocation Option. If the remaining value in an Allocation Option and/or the DCA Advantage Account, is less than the necessary surrender charge, we will not process the withdrawal. However, you can withdraw any investment gains under your policy without a surrender charge (see "CHARGES AND DEDUCTIONS—Transaction Expenses—Exceptions to Surrender Charges," below).

The guaranteed maximum surrender charge will be 8% of the amount withdrawn. The percentage of the surrender charge varies, depending upon the length of time a premium payment is in your policy before it is withdrawn. For purposes of calculating the applicable surrender charge, we deem premium payments to be withdrawn on a first–in, first–out basis. Unless required otherwise by state law, the surrender charge for amounts withdrawn or surrendered during the first Payment Year(s) following the premium payment to which such withdrawal or surrender is 8% of the amount withdrawn or surrendered. This charge then declines by 1% per year for each additional Payment Year, until the eighth Payment Year, after which no charge is made, as shown in the following chart:

*Amount of Surrender Charge* 

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| | |
|:---|:---|
| **Payment Year** | **Surrender Charge** |
| 1 | 8% |
| 2 | 8% |
| 3 | 7% |
| 4 | 6% |
| 5 | 5% |
| 6 | 4% |
| 7 | 3% |
| 8 | 2% |
| 9+ | 0% |

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In no event will the aggregate surrender charge applied under the policy exceed nine percent (9.0%) of the total premium payments.

*Exceptions to Surrender Charges*

We will not assess a surrender charge:

&nbsp;&nbsp;&nbsp;&nbsp;(a) on amounts you withdraw in any Policy Year that are less than or equal to the greatest of (i) 10% of the Accumulation Value as of the last Policy Anniversary (10% of the premium payment if the withdrawal is made in the first Policy Year) less any prior surrender charge free withdrawals during the Policy Year; (ii) 10% of the Accumulation Value at the time of withdrawal, less any prior surrender charge free withdrawals during the Policy Year; or (iii) the Accumulation Value less accumulated premium payments.

&nbsp;&nbsp;&nbsp;&nbsp;(b) if NYLIAC cancels the policy;

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

&nbsp;&nbsp;&nbsp;&nbsp;(c) when we pay proceeds upon the death of the policyowner;

&nbsp;&nbsp;&nbsp;&nbsp;(d) when you select an Income Payment option involving life income in any Policy Year after the first Policy Anniversary;

&nbsp;&nbsp;&nbsp;&nbsp;(e) when a required minimum distribution calculated based on the value of this policy is made under a Qualified Policy (this amount will, however, count against the first exception);

&nbsp;&nbsp;&nbsp;&nbsp;(f) on withdrawals you make under the Living Needs Benefit Rider, Unemployment Benefit Rider, or Living Needs Benefit/Unemployment Rider, if applicable;

&nbsp;&nbsp;&nbsp;&nbsp;(g) on monthly or quarterly periodic partial withdrawals made pursuant to Section 72(t)(2)(A)(iv) of the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;(h) when the aggregate surrender charges under a policy exceed 9.0% of the total premium payments.

*Transfer Fees*

Currently, we do not charge for transfers under the policy. However, we reserve the right to charge up to $30 for each transfer after the first 12 in a given Policy Year, subject to any applicable state insurance law requirements. The charge is to compensate us for the expense of processing the transfer. The transfer charge, if applicable, will be assessed at the time that the transfer is processed and will be deducted from your Accumulation Value and taken pro rata from each Allocation Option. Each time you request a transfer, we will assess the transfer charge, if applicable. Separate requests submitted on the same day will each be treated as separate transfers. Transfers made under traditional Dollar Cost Averaging, Interest Sweep, the DCA Advantage Account, and Automatic Asset Reallocation do not count toward this transfer limit.

*Payments Returned for Insufficient Funds*

If your premium payment is returned for insufficient funds, we reserve the right to reverse your allocation(s) and charge you a $20 fee for each returned payment. The charge is to compensate us for the expense of processing the returned payment. This charge, if applicable, will be assessed at the time the payment is reversed and will be deducted from your Accumulation Value and taken pro rata from each Allocation Option. In addition, the Portfolio may also redeem shares to cover any losses it incurs as result of a returned payment. If a payment is returned for insufficient funds for two consecutive periods, the privileges to pay by check or electronically will be suspended until the VPSC receives a written request to reinstate it in Good Order at one of the addresses noted in the "CONTACTING NYLIAC" section of the Prospectus, and we agree.

***Annual Policy Expenses***

*Base Contract Charges (M&E Charge)*

Prior to the Annuity Commencement Date, we deduct a charge from the assets of the Separate Account to compensate us for certain mortality and expense risks and administrative costs (M&E Charge) we assume under the policies and for providing policy administration services. You may choose to have the M&E Charge assessed based on either the Accumulation Value of the policy or the Adjusted Premium Payments. The M&E Charge is 1.65% (annualized) of the daily average Variable Accumulation Value for Accumulation Value based policies. For Premium based M&E Charge policies, the M&E Charge is 1.75% (annualized) of the Adjusted Premium Payments and will be deducted from the Investment Divisions through a reduction in Accumulation Units each policy quarter (excluding premiums allocated to the Fixed Account that are not transferred to the Investment Divisions). Please note, in some jurisdictions, the M&E Charge for policies based on Adjusted Premium Payments cannot be deducted from the DCA Advantage Account. For Accumulation Value based M&E Charge policies, the M&E Charge may vary based on the Accumulation Value of the policy when the M&E Charge is deducted. For Premium based M&E Charge policies, the M&E Charge is assessed based on the Adjusted Premium Payments and will not vary with fluctuations in the policy's Accumulation Value. We guarantee that this charge will not increase. If the charge is insufficient to cover actual costs and assumed risks, the loss will fall on NYLIAC. We expect to profit from this charge. We may use these proceeds for any corporate purpose, including expenses relating to the sale of the policies, to the extent that surrender charges do not adequately cover sales expenses.

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The amount of Premium based M&E Charges deducted from your Accumulation Value will be unaffected by fluctuations in market performance. In a rising market, the Premium based M&E Charge structure will benefit the policyowner because the Premium based M&E Charge, when measured as a percentage of separate account assets, will be reduced. In a flat or declining market, the Premium based M&E Charge structure will result in an increase in the charge when measured against separate account assets. The amount of Accumulation Value based M&E Charges assessed to your policy will be affected by fluctuations in market performance. However, the Accumulation Value based M&E Charge structure may be more advantageous in a flat or declining market.

The mortality risk assumed is the risk that Annuitants as a group will live for a longer time than our actuarial tables predict. As a result, we would be paying more Income Payments than we planned. We also assume a risk that the mortality assumptions reflected in our guaranteed annuity payment tables, shown in each policy, will differ from actual mortality experience. Lastly, we assume a mortality risk that, at the time of death, the guaranteed minimum death benefit will exceed the policy's Accumulation Value. The expense risk assumed is the risk that the cost of issuing and administering the policies will exceed the amount we charge for these services. We expect to make a profit from this charge, which we may use for any purpose, including expenses associated with the Premium Credit.

*Administrative Expense – Policy Service Charge*

We deduct an annual policy service charge of $30 each Policy Year on the Policy Anniversary and upon surrender of the policy. However, we will waive the annual policy service charge if your policy has $100,000 or more of Accumulation Value on a given Policy Anniversary.

We deduct the annual policy service charge from each Allocation Option and the DCA Advantage Account, if applicable, in proportion to its percentage of the Accumulation Value in each option on the Policy Anniversary or date of surrender. This charge is designed to cover the costs for providing services under the policy such as collecting, processing, and confirming premium payments and establishing and maintaining the available methods of payment.

***Optional Benefit Expenses***

*Investment Protection Plan Rider Charge*

If you purchase the Investment Protection Plan, we will deduct a charge on the first Business Day of the next policy quarter following each policy quarter that the rider is in effect based on the amount that is guaranteed. This charge is to compensate NYLIAC for the risk of the underlying guarantee provided by the rider. We deduct this charge beginning with the first policy quarter after the effective date of the rider. (See "FEE TABLE.") This charge is to compensate NYLIAC for the risk of the underlying guarantee provided by the rider. We will deduct the charge from each Allocation Option and the DCA Advantage Account in proportion to its percentage of the Accumulation Value on the first Business Day of the applicable policy quarter.

If you purchased the IPP Rider before February 15, 2010, the maximum annual charge is 1.00% of the amount that is guaranteed. The maximum annual charge for policyowners who select this feature on or after February 15, 2010 is 1.25% of the amount that is guaranteed. We may set a lower charge at our sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;For IPP Riders selected before February 15, 2010, the current annual charge if you choose to reset your IPP Rider is 0.80% of the amount that is guaranteed, applied on a quarterly basis (0.20% per quarter).

&nbsp;&nbsp;&nbsp;&nbsp;For IPP Riders selected on or after February 15, 2010, the current charge and the charge if you elect to reset your IPP Rider is 0.70% of the amount that is guaranteed, applied on a quarterly basis (0.175% per quarter).

You should check with your registered representative to determine the percentage we are currently charging before you purchase this feature.

If you reset the amount that is guaranteed, a new charge for the rider may apply. This charge may be more or less than the charge currently in effect on your policy but will never exceed the stated maximum. The charge in effect on the effective date of the rider or on the effective date of any reset will not change after the date the rider (or any reset) becomes effective, unless you again reset the rider's guaranteed amount. After a reset, we will continue to deduct the current charge until the first policy quarter following the effective date of the reset.

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*Investment Protection Plan II Rider Charge*

IPP II was available as an option under the policy at the time of application, but is no longer available. If you purchased IPP II, we deduct a charge each policy quarter based on the amount that is guaranteed. We deduct this charge beginning with the first policy quarter after the effective date of the rider. (See "FEE TABLE.") In most jurisdictions, we deduct the charge from each Allocation Option and the DCA Advantage Account in proportion to its percentage of the Accumulation Value on the first Business Day of the applicable policy quarter.

The guaranteed maximum annual charge is 1.50% of the amount that is guaranteed. We may set a lower charge at our sole discretion.

If you choose to reset your IPP II Rider, the current charge is 0.70% of the amount that is guaranteed, applied on a quarterly basis (0.175% per quarter).

If you reset the amount that is guaranteed, a new charge for IPP II may apply. This charge may be more or less than the charge currently in effect on your policy, but will never exceed the stated maximum. The charge in effect on the effective date of the rider or on the effective date of any reset will not change after the date the rider (or any reset) becomes effective, unless you again reset the rider's guaranteed amount. We will continue to deduct the current charge until the first policy quarter following the effective date of the reset.

*Guaranteed Investment Protection Rider Charge*

GIPR was available as an option under the policy at the time of application, but is no longer available. If you purchased GIPR, we deduct a charge each policy quarter based on the amount that is guaranteed. We deduct this charge beginning with the first policy quarter after the effective date of the rider. (See "FEE TABLE.") In most jurisdictions, we deduct the charge from the Investment Divisions and DCA Advantage Account on a pro–rata basis on the first Business Day of the applicable policy quarter.

The guaranteed maximum annual charge is 1.50% of the amount that is guaranteed. We may set a lower charge at our sole discretion.

If you choose to reset your GIPR Rider, the current charge is 0.70% of the amount that is guaranteed, applied on a quarterly basis (0.175% per quarter).

If you reset the amount that is guaranteed, a new charge for GIPR may apply. This charge may be more or less than the charge currently in effect on your policy, but will never exceed the stated maximum. The charge in effect on the effective date of the rider or on the effective date of any reset will not change after the date the rider (or any reset) becomes effective, unless you again reset the rider's guaranteed amount. We will continue to deduct the current charge until the first policy quarter following the effective date of the reset.

*Guaranteed Investment Protection Rider 2.0 Charge*

GIPR 2.0 was available as an option under the policy at the time of application, but is no longer available. If you purchased GIPR 2.0, we deduct a charge each policy quarter based on the amount that is guaranteed. We deduct this charge beginning with the first policy quarter after the effective date of the rider. (See "FEE TABLE.") In most jurisdictions, we deduct the charge from the Investment Divisions and DCA Advantage Account on a pro–rata basis on the first Business Day of the applicable policy quarter.

The guaranteed maximum annual charge is 1.50% of the amount that is guaranteed. We may set a lower charge at our sole discretion.

For GIPR 2.0 Rider Resets, the current charge ranges from 0.45% to 0.70% of the amount that is guaranteed, applied on a quarterly basis (0.1125% to 0.175% per quarter), depending on the term you choose.

If you reset the amount that is guaranteed, a new charge for GIPR 2.0 may apply. This charge may be more or less than the charge currently in effect on your policy but will never exceed the stated guaranteed maximum. The charge in effect on the effective date of the rider or on the effective date of any reset will not change after the date the rider (or any reset) becomes effective, unless you again reset the rider's guaranteed amount. We will continue to deduct the current charge until the first policy quarter following the effective date of the reset.

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*Investment Protection Plan Riders Risk Charge Adjustment (Cancellation Charge)*

If you cancel the Investment Protection Plan Rider, the Investment Protection Plan II Rider, the Guaranteed Investment Protection Rider or the Guaranteed Investment Protection Rider 2.0, we will deduct a one-time Rider Risk Charge Adjustment from your Accumulation Value in certain Investment Divisions or the DCA Advantage Account. This charge is to compensate NYLIAC for the costs and risks we assume in providing the benefit. The cancellation will be effective on the date that the VPSC (at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus) receives your cancellation request in Good Order. (See "FEE TABLE.") In most jurisdictions, we will deduct the Rider Risk Charge Adjustment from an Investment Division or the DCA Advantage Account in proportion to its percentage of the Accumulation Value on that day. We will not deduct this charge if you surrender your policy. However, surrender charges may apply.

We will not change the adjustment for a particular policy once it is set on the date the rider takes effect. The maximum Rider Risk Charge Adjustment is 2.00% of the amount that is guaranteed, except in the case of the GIPR 2.0 Rider with a 20–year term, which has a 1.00% maximum. We may set a lower charge at our sole discretion. You should check with your registered representative to determine the percentage we are currently charging before you decide to cancel.

If you reset the amount that is guaranteed, a new Rider Risk Charge Adjustment may apply. This charge may be more or less than the charge currently in effect on your policy, but will never exceed the stated maximum. The adjustment charge in effect on the effective date of the rider or on the effective date of any reset will not increase after the rider is issued.

*Enhanced Beneficiary Benefit Rider Charge*

If you purchased the EBB Rider (in jurisdictions where available), we will deduct a charge each policy quarter that the rider is in effect based on the Accumulation Value. This charge is to compensate NYLIAC for the risk of the underlying guarantee provided by the rider. We will deduct this charge beginning with the first policy quarter after the Policy Date. In most jurisdictions, this charge will be deducted quarterly from each Allocation Option and DCA Advantage Account in proportion to its percentage of the Accumulation Value.

The maximum annual charge is 1.00% of the policy's Accumulation Value, applied on a quarterly basis. We may set a lower charge at our sole discretion. The current charge for the EBB Rider is 0.30% of the policy's Accumulation Value, applied on a quarterly basis (0.075% per quarter). This charge will not change once your policy is issued.

*Annual Death Benefit Reset (ADBR) Rider Charge*

If you purchased the ADBR Rider, we will deduct a charge each policy quarter that the rider is in effect based on the amount that is guaranteed as of the last Reset Anniversary. This charge is to compensate NYLIAC for the risk of the underlying guarantee provided by the rider. In most jurisdictions, this charge will be deducted from each Investment Division, the DCA Advantage Account, and the Fixed Account, in proportion to its percentage of the Accumulation Value of the applicable quarter and will not reduce your Adjusted Premium Payments. However, for policies issued in New York, this charge will be deducted only from the Variable Accumulation Value. This charge will continue to be deducted while the policy remains in–force.

The charge for the ADBR Rider is based upon your age when the policy is issued, which will not change. The maximum annual charge is 1.00% of the most recent reset amount, or the initial premium payment in the first Policy Year. You should check with your registered representative to determine the percentage we are currently charging. As of the date of this Prospectus, the charges are as follows:

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| | | |
|:---|:---|:---|
| **Age of Oldest Owner at Issue** | **Annual Charge** | **Annual Charge** |
| 65 or younger | 0.30% | (.0750% per quarter) |
| 66 to 75 inclusive | 0.35% | (.0875% per quarter) |

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*Investment Protection Plan Rider/Annual Death Benefit Reset Rider Package Charge*

If you purchased the Investment Protection Plan Rider/Annual Death Benefit Reset Rider combination package ("IPP + ADBR"), we deduct reduced ADBR and IPP rider charges each policy quarter that the IPP + ADBR package is

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in effect. The maximum annual charge for the combination of the ADBR and IPP rider charges is 2.00%. With the IPP + ADBR package, the current ADBR Rider charge is 0.25% of the amount that is reset on the last policy anniversary, applied on a quarterly basis. With the IPP + ADBR package, for policies purchased before February 15, 2010, the current IPP Rider reset charge is 0.75% of the amount that is guaranteed under the IPP Rider, applied on a quarterly basis. With the IPP + ADBR package, for policies purchased after February 15, 2010, the current IPP rider reset charge is 0.65%. Please note that if the IPP Rider is cancelled, the charge for the ADBR Rider will revert to the charge that is assessed for that rider, if purchased separately.

*Investment Protection Plan II Rider/Annual Death Benefit Reset Rider Package Charge*

If you purchased the Investment Protection Plan II Rider/Annual Death Benefit Reset Rider combination package ("IPP II + ADBR"), we deduct reduced ADBR and IPP II rider charges each policy quarter that the IPP II + ADBR package is in effect. The maximum annual charge for the combination of the ADBR and IPP II Rider charges is 2.00%. With the IPP II + ADBR package, the current ADBR Rider charge is 0.25% of the most recent reset amount, applied on a quarterly basis. With the IPP II + ADBR package, the current IPP II Rider reset charge is 0.65% of the amount that is guaranteed under the IPP II, applied on a quarterly basis. Please note that if IPP II is cancelled, the charge for the ADBR Rider will revert to the charge that is assessed for that rider, if purchased separately.

*Guaranteed Investment Protection Rider/Annual Death Benefit Reset Rider Package Charge*

If you purchased the Guaranteed Investment Protection Rider/Annual Death Benefit Reset Rider combination package ("GIPR + ADBR") (in jurisdictions where available), we deduct reduced ADBR and GIPR rider charges each policy quarter that the GIPR + ADBR package is in effect. The maximum annual charge for the combination of the ADBR and GIPR rider charges is 2.00%. With the GIPR + ADBR package, the current ADBR Rider charge is 0.25% of the most recent reset amount, applied on a quarterly basis. With the GIPR + ADBR package, the current GIPR Rider reset charge is 0.65% of the amount that is guaranteed under the GIPR, applied on a quarterly basis. Please note that if GIPR is cancelled, the charge for the ADBR Rider will revert to the charge that is assessed for that rider, if purchased separately.

*Guaranteed Investment Protection Rider 2.0/Annual Death Benefit Reset Rider Package Charge*

If you purchased the Guaranteed Investment Protection Rider 2.0/Annual Death Benefit Reset Rider combination package ("GIPR 2.0 + ADBR") (in jurisdictions where available), we deduct reduced ADBR and GIPR 2.0 rider charges each policy quarter that the GIPR 2.0 + ADBR package is in effect. The maximum annual charge for the combination of the ADBR and GIPR 2.0 rider charges ranges from 2.00% to 2.50%, depending on the GIPR 2.0 term you choose. With the GIPR 2.0 + ADBR package, the current ADBR rider charge is 0.25% of the most recent reset amount, applied on a quarterly basis. With the GIPR 2.0 + ADBR package, the current GIPR 2.0 Rider reset charge ranges from 0.40% to 0.95% of the amount that is guaranteed under the GIPR 2.0, applied on a quarterly basis, depending on the GIPR 2.0 term you choose. Please note that if GIPR 2.0 is cancelled, the charge for the ADBR Rider will revert to the charge that is assessed for that rider, if purchased separately.

***Annual Portfolio Expenses***

Portfolio fees and expenses are deducted from and paid out of the assets of the Portfolios. The value of the assets of the Separate Account will indirectly reflect the Portfolios' total fees and expenses. The Portfolios' total fees and expenses are not part of the policy. They may vary in amount from year to year. These fees and expenses are described in detail in the relevant Portfolio's prospectus and/or SAI. A complete list of Portfolios available under the policy, including their annual expenses, may be found in **APPENDIX 2A**.

Certain 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 Investment Company Act of 1940. In such cases, we would administer the Portfolio fees and deduct them from your Accumulation Value or transaction proceeds.

***Group and Sponsored Arrangements***

For certain group or sponsored arrangements, we may reduce the surrender charge and the policy service charge or change the minimum initial and additional premium payment requirements. Group arrangements include those in which a trustee or an employer, for example, purchases policies covering a group of individuals on a group basis.

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Sponsored arrangements include those in which an employer allows us to sell policies to its employees or retirees on an individual basis.

Our costs for sales, administration, and mortality generally vary with the size and stability of the group among other factors. We take all these factors into account when reducing charges. To qualify for reduced charges, a group or sponsored arrangement must meet certain requirements, including our requirements for size and number of years in existence. Group or sponsored arrangements that have been set up solely to buy policies or that have been in existence less than six months will not qualify for reduced charges.

We will make any reductions according to our rules in effect when an application or enrollment form for a policy is approved. We may change these rules from time to time. Any variation in the surrender charge or policy service charge will reflect differences in costs or services and will not be unfairly discriminatory.

***Taxes***

NYLIAC may, where premium taxes are imposed by state law, deduct such taxes from your policy either: (i) when a surrender or cancellation occurs, or (ii) at the Annuity Commencement Date. Applicable premium tax rates depend upon such factors as your current state of residency, and the insurance laws and NYLIAC's status in states where premium taxes are incurred. Current premium tax rates range from 0% to 3.5%. Applicable premium tax rates are subject to change by legislation, administrative interpretations or judicial acts.

We may in the future seek to amend the policies to deduct premium taxes when a premium payment is received.

Under present laws, NYLIAC will also incur state and local taxes (in addition to the premium taxes described above) in several states. NYLIAC may assess charges for such taxes.

NYLIAC does not expect to incur any federal income tax liability attributable to investment income or capital gains retained as part of the Separate Account reserves under the policies. (See "FEDERAL TAX MATTERS."). Based upon these expectations, no charge is being made currently for corporate federal income taxes which may be attributable to the Separate Account. Such a charge may be made in future years for any federal income taxes NYLIAC incurs.

**Distributions Under The Policy**

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***Surrenders and Withdrawals***

You can make partial withdrawals, periodic partial withdrawals, hardship withdrawals, or surrender the policy to receive part or all of the Accumulation Value at any time before the Annuity Commencement Date and while the Annuitant is living. To request a surrender or withdrawal, you can send a written request in Good Order to the VPSC at one of the addresses listed on the "CONTACTING NYLIAC" section of this Prospectus or utilize any other method we make available. Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion. If the request is in Good Order, the amount available for withdrawal is the Accumulation Value at the end of the Business Day that the VPSC receives the written request, less any surrender charges, taxes that we may deduct, and the annual policy service charge, if applicable. If you have not provided us with a written election not to withhold federal income taxes at the time you make a withdrawal or surrender request, NYLIAC must by law withhold such taxes from the taxable portion of any surrender or withdrawal. We will remit that amount to the federal government. In addition, some states have enacted legislation requiring withholding. You can also request a partial withdrawal online at www.newyorklife.com or the mobile application. NYLIAC will pay all surrenders or withdrawals within seven days of receipt of all required information in Good Order (including documents necessary to comply with federal and state tax law), subject to postponement in certain circumstances. (See "THE POLICIES—Delay of Payments").

Since you assume the investment risk with respect to amounts allocated to the Separate Account and because certain surrenders or withdrawals are subject to a surrender charge and premium tax deduction, the total amount paid upon surrender of the policy (taking into account any prior withdrawals) may be more or less than the total premium payments made.

Surrenders and withdrawals may be taxable transactions, and the Code provides that a 10% penalty tax may be imposed on certain early surrenders or withdrawals made before the Owner attains age 59½ (the penalty tax is increased to 25% in the case of a distribution from a SIMPLE IRA within the first two years of your participation in the

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SIMPLE IRA Plan.) (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.") In addition, taxable surrenders and withdrawals may be subject to an additional 3.8 percent tax on net investment income. (See "FEDERAL TAX MATTERS—3.8 Percent Tax on Certain Investment Income.")

*Surrenders*

We may deduct a surrender charge and any state premium tax, if applicable, any outstanding loan balance, and the annual policy service charge, if applicable, from the amount paid. For surrender requests over $50,000, we may require additional verification of your identity before the request can be deemed in Good Order. For surrender requests of any size, if your address or bank account information has been on file with us for less than thirty (30) days, we may require additional verification of your identity before we will process a request to send surrender proceeds electronically to that bank account or through the mail to that address. (See "ANNUITY PAYMENTS (THE INCOME PHASE)—Income Payments.") Surrenders may be taxable transactions and a 10% penalty tax may be applicable if the surrender is made before the Owner attains age 59½. (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.")

*Partial Withdrawals*

The minimum amount that can be withdrawn is $500 unless we agree otherwise. We will withdraw the amount from the Allocation Options in accordance with your request. However, if you do not specify how to allocate a partial withdrawal among the Allocation Options, we will deduct the partial withdrawal on a pro-rata basis. Your requested partial withdrawal will be effective on the date we receive your request in Good Order at the VPSC or online at www.newyorklife.com or the mobile application. However, if that day is not a Business Day or if your request is received after the close of the NYSE, then the requested partial withdrawal will be effective on the next Business Day. Generally, we will pay the partial withdrawal within seven days of that date. Partial withdrawals may be taxable transactions and the 10% penalty tax provisions may be applicable. (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.")

If a surrender charge applies to your partial withdrawal, surrender charges will be deducted from the amount paid to you unless you instruct us otherwise. You may, however, request to have the surrender charges taken from the remaining value of the Allocation Options from which partial withdrawals are made. If you specify the Allocation Options from which to make the withdrawal, we will deduct the surrender charge pro-rata according to your instructions. If you do not specify the Allocation Options from which to make the withdrawal, we will deduct the surrender charge pro-rata from each Allocation Option.

If the requested partial withdrawal is equal to the value in any of the Allocation Options from which the partial withdrawal is being made, we will pay the entire value of that Allocation Option and/or the DCA Advantage Account, less any surrender charge that may apply to you. If honoring a partial withdrawal request would result in an Accumulation Value of less than $2,000, we reserve the right to terminate your policy and pay you the Accumulation Value in a single sum, subject to any applicable state insurance law or regulation. We will notify you of our intention to exercise this right and give you 90 days to make a premium payment. If we terminate your policy, we will pay you the Accumulation Value of your policy in one lump sum.

Currently, online withdrawals cannot exceed $250,000 and telephone partial withdrawals cannot exceed $100,000. We may require additional verification of your identity for written or telephone partial withdrawal requests for amounts greater than $50,000 before the request can be deemed in Good Order. For withdrawal requests of any size, if your address or bank account information has been on file with us for less than 30 days, we may require the request in writing or require additional verification of your identity, in a means acceptable to us, before we will process a request to send partial withdrawal proceeds electronically to that bank account or through the mail to that address. In addition, partial withdrawal requests made from policies that are less than 90 days old or that had an ownership change within 30 days of such partial withdrawal request must be made in writing and sent to the VPSC at one of the addresses noted in the "CONTACTING NYLIAC" section of this Prospectus. Faxed and e-mailed requests are not currently accepted; however, we reserve the right to accept them at our discretion.

**It is important to note that any withdrawal may reduce the Guaranteed Amount and death benefit proportionally.** 

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*Periodic Partial Withdrawals*

You may elect to receive regularly scheduled partial withdrawals from the policy. These periodic partial withdrawals may 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 29<sup>th</sup>, 30<sup>th</sup>, or 31<sup>st</sup> of a month). 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). To process Periodic Partial Withdrawals, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus, or utilize any other method we make available. NYLIAC must receive a request no later than five Business Days prior to the date the withdrawals are to begin. If we receive your request less than five Business Days prior to the date you request withdrawals to begin, the withdrawals will begin on the day of the month you specify in the month following the receipt of your request. Faxed and e-mailed requests are not currently accepted; however, we reserve the right to accept them at our discretion. You may specify the Allocation Options from which the periodic partial withdrawals will be made. The minimum amount is $100, or such lower amount as we may permit. Periodic partial withdrawals may be taxable transactions and the 10% penalty tax provisions may be applicable. (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.") If you do not specify otherwise, we will withdraw money on a pro-rata basis from each Investment Division and/or the Fixed Account. You may not make periodic partial withdrawals from the DCA Advantage Account. You can elect to receive "Interest Only" periodic partial withdrawals for the interest earned on monies allocated to the Fixed Account. This option is not available for policies issued in the State of New York. If this option is chosen, the $100 minimum for periodic partial withdrawals will be waived. However, you must have at least $5,000 in the Fixed Account at the time of each periodic partial withdrawal, unless we agree otherwise.

**It is important to note that any withdrawal may reduce the Guaranteed Amount and death benefit proportionally.**

*Hardship Withdrawals*

Under certain Qualified Policies, the Plan Administrator (as defined in Code Section 414(g)) may allow, in its sole discretion, certain withdrawals it determines to be "Hardship Withdrawals." The surrender charge and 10% penalty tax, if applicable, and provisions applicable to partial withdrawals apply to Hardship Withdrawals.

***Required Minimum Distributions***

The age when required minimum distributions must begin for IRAs, SIMPLE IRAs, SEP IRAs, and TSAs is now based on your "applicable age" as defined in the Code.

If you were born prior to July 1, 1949, your applicable age was 70½. If you were born on or after July 1, 1949, and before January 1, 1951, your applicable age was 72. If you were born on or after January 1, 1951 and before January 1, 1960, your applicable age is 73. If you were born on or after January 1, 1960, your applicable age is 75.

For IRAs, SIMPLE IRAs and SEP IRAs, the policyowner is generally not required to start taking required minimum distributions until April 1st of the year following the calendar year he or she attains their applicable age. For TSAs, the policyowner is generally not required to start taking required minimum distributions until April 1st of the year following the later of the calendar year he or she attains their applicable age or the calendar year he or she retires. For Inherited IRAs and Inherited Roth IRAs, a policyowner is generally required to take the first required minimum distribution on or before December 31 of the calendar year following the year of the original owner's death. For Inherited Non-Qualified policies, the policyowner is generally required to take the first required minimum distribution prior to the first anniversary of the original owner's death.

***Our Right to Cancel***

In most jurisdictions, if we do not receive any premium payments for a period of two years, and the Accumulation Value of your policy would provide Income Payments of less than $20 per month on the Annuity Commencement Date, we reserve the right to terminate your policy subject to any applicable state insurance law or regulation. We will notify you of our intention to exercise this right and, provided that you are not older than the maximum age for making a premium payment as stated on the Policy Data Page, give you 90 days to make a premium payment. If we terminate your policy, we will pay you the Accumulation Value of your policy in one lump sum. For single premium policies, this

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section is modified as indicated in APPENDIX 1 of this Prospectus. For more information about our right to cancel policies issued in New York, see APPENDIX 3 – State Variations.

***Restrictions Under Code Section 403(b)(11)***

With respect to 403(b) TSAs, distributions attributable to salary reduction contributions made in years beginning after December 31, 1988 (including the earnings on these contributions), as well as to earnings in such years on salary reduction accumulations held as of the end of the last year beginning before January 1, 1989, may not begin before the employee attains age 59½, has a severance from employment, dies or becomes disabled. The Code section 403(b) plan may also provide for distribution in the case of hardship. However, hardship distributions are limited to amounts contributed by salary reduction. The earnings on such amounts may not be withdrawn. However, for plan years beginning after December 31, 2023, all amounts are available for a hardship distribution. Even though a distribution may be permitted under these rules (e.g., for hardship or due to a severance from employment), it may still be subject to a 10% additional income tax as a premature distribution.

Under the final Code section 403(b) regulations, which the Department of Treasury published on July 26, 2007, employer contributions made to Code section 403(b) TSA contracts will be subject to new withdrawal restrictions. Under the new rules, amounts attributable to employer contributions to a Code section 403(b) TSA contract that is issued after December 31, 2008 may not be distributed earlier than the earliest of severance from employment or upon the occurrence of a certain event, such as after a fixed number of years, the attainment of a stated age, or disability. These new withdrawal restrictions do not apply to Code section 403(b) TSA contracts issued before January 1, 2009.

Under the terms of your Code section 403(b) plan, you may have the option to invest in other funding vehicles, including Code section 403(b)(7) custodial accounts. You should consult your plan document to make this determination.

***Loans***

***Availability of Loans and Limitations****.* Loans are available only if you have purchased an Accumulation Value–based M&E Charge policy in connection with a 403(b) Tax–Sheltered Annuity ("TSA") plan. Loans are not available for policies with an investment protection rider. Under your 403(b) policy, you may borrow against your policy's Accumulation Value prior to the Annuity Commencement Date. Unless we agree otherwise, only one loan may be outstanding at a time. There must be a minimum Accumulation Value of $5,000 in the policy at the time of the loan. The minimum loan amount is $500, unless you are using the loan to purchase a primary residence, as described below. The maximum loan that you may take is the lesser of: (a) 50% of the policy's Accumulation Value on the date of the loan or (b) $50,000 minus your highest outstanding principal balance in the previous 12 months from your policy and any qualified employer plan (as defined under Sections 72(p)(4) and 72(p)(2)(D) of the Code). Please note that adverse tax consequences could result from your failure to comply with this limitation. NYLIAC, and its affiliates and agents do not provide legal or tax advice nor assume responsibility or liability for any legal or tax consequences of any TSA loan taken under a 403(b) policy or the compliance of such loan with the Code limitations set forth in this paragraph or for determining whether any plan or loan is subject to and/or complies with ERISA.

*Your Policy as Collateral for a Loan.* Your policy will be used as collateral to secure this loan. Any amount that secures a loan remains part of your policy's Accumulation Value, but it is transferred to the Fixed Account. We credit any amount that secures a loan (the loaned amount) with an interest rate that we expect to be different than the interest rate we credit any unloaned amount in the Fixed Account.

When you request a loan, a transfer of funds will be made from the Separate Account (and/or DCA Advantage Accounts, if so requested) to the Fixed Account so that the Accumulation Value in the Fixed Account is at least 125% of the requested loan amount. We will transfer these funds from the Investment Divisions of the Separate Account (and/or DCA Advantage Accounts, if so requested) in accordance with your instructions or, if you have not provided us with any instructions, in proportion to the amounts you have in each Investment Division (and/or DCA Advantage Accounts, if so requested). While any policy loan is outstanding, you may not make any partial withdrawals or transfers which would reduce the Fixed Account Accumulation Value to an amount that is less than 125% of the outstanding loan balance, or which will reduce your Accumulation Value net of the outstanding loan to less than $5,000.

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*Interest Charged for a Loan.* For policies not governed by ERISA, we charge an effective annual loan interest rate of 5%. For policies governed by ERISA, the interest rate we charge will be based on the Prime Rate, as reported in the Wall Street Journal on the first Business Day of a calendar year or the Moody's Corporate Bond Yield Average as of two months before the date the rate is determined. The rate is determined on the first Business Day of the calendar year. Once set, the interest rate will be fixed for the life of the loan. Interest accrues daily and is charged quarterly as part of your periodic loan repayments.

*Interest Credited on the Fixed Account Accumulation Value Held as Collateral for a Policy Loan.* When you take a loan against your policy, the loaned amount that we hold in the Fixed Account as collateral for your policy loan may earn interest at a different rate from the rate that we charge you for loan interest. The rate we credit on the loaned amount in the Fixed Account may also be different from the rate we credit on other amounts in the Fixed Account. For the amount held in the Fixed Account that is used to secure 100% of the outstanding loan value, we will credit interest at a rate that is 2% less than the interest rate charged on the loan. The additional 25% being held in the Fixed Account to secure the loan will be credited with the current declared interest rate for the Fixed Account. The credited interest rate will always be at least equal to the minimum guaranteed interest rate stated on the Policy Data Page. Interest is credited on a daily basis.

*Requesting a Loan.* We reserve the right to withdraw a loan processing fee of $25 from the Accumulation Value on a pro rata basis, unless prohibited by applicable state law or regulation. To request a loan, you must send a written request in Good Order to the VPSC. 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 a form acceptable to us, before we will process a request to send loan proceeds electronically to that bank account or through the mail to that address.

*When Loan Payments are Due.* Once you take a loan, your scheduled loan repayments (which include accrued loan interest), are due quarterly and over a period no greater than five years from the date it is taken (except with respect to loans taken to purchase a principal residence as explained below). If you do not make a loan payment when it is due, we will withdraw the amount in default from your Fixed Accumulation Value to the extent permitted by federal income tax rules. We will take such a repayment on a first–in, first–out (FIFO) basis from amounts allocated to the Fixed Account.

Loan payments must be sent to the VPSC at the address as shown in the "CONTACTING NYLIAC" section of this prospectus (or any other address we indicate to you in writing). Loan repayments are applied in accordance with your existing premium allocation instructions unless you provide alternate instructions in writing.

The entire amount of your outstanding loan may be treated as a taxable distribution.

*Loans used to Acquire a Principal Residence.* We permit loans to acquire a principal residence under the same terms described above, except that:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the minimum loan amount is $5,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) repayment of the loan amount may be extended to a maximum of twenty–five years.

*The Effects of a Policy Loan on Accumulation Value, Income Payments and the Standard Death Benefit.* A loan, repaid or not, has a permanent effect on your Accumulation Value. This effect occurs because amounts borrowed are removed from your Investment Divisions (which receive investment performance) and placed into the Fixed 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 Accumulation Value. The effect could be favorable or unfavorable. If the Investment Divisions earn more than the annual interest rate credited to loaned amounts held in the Fixed Account, your Accumulation 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 loaned amounts held in the Fixed Account, then your Accumulation 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 proceeds that might otherwise be payable as Income Payments or under your Policy's Standard Death Benefit.

We deduct any outstanding loan balance including any accrued interest from the Fixed Accumulation Value prior to payment of a surrender or the commencement of the annuity benefits. On death of the policyowner or Annuitant, we deduct any outstanding loan balance plus accrued loan interest from the Fixed Accumulation Value as a partial withdrawal as of the date we receive the notice of death.

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Loans are subject to the terms of the policy, your 403(b) plan and the Code, which may impose restrictions upon them. We reserve the right to suspend, modify, or terminate the availability of loans under this policy at any time. However, any action taken by us will not affect already outstanding loans. **Also note that for Premium–Based M&E Charge policies purchased in connection with TSA plans, you may not borrow any portion of your Accumulation Value.**

**Annuity Payments (The Income Phase)**

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***Annuity Commencement Date***

The income phase of your policy occurs when you begin receiving regular payments from us (Income Payments). The Annuity Commencement Date is the day those Income Payments begin (sometimes referred to as annuitization of the policy) unless the policy has been surrendered or an amount has been paid as proceeds to the designated Beneficiary prior to that date. The Annuity Commencement Date is the date specified on the Policy Data Page, but is usually the date you attain age 95. The earliest possible Annuity Commencement Date is the first Policy Anniversary. If we agree, you may change the Annuity Commencement Date to an earlier date. If we agree, you may also defer the Annuity Commencement Date to a later date, which could be as late as the date you attain age 115, provided that we receive notice of the request in Good Order at least one month before the last selected Annuity Commencement Date, and that applicable state law permits a deferral to such date. To request to change or defer the Annuity Commencement Date to a later date, subject to the constraints noted above, you must provide notice in a form acceptable to us (or as required under state law) in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. You may not withdraw any Accumulation Value from your policy after the Annuity Commencement Date. Any request for a partial withdrawal must be received at least 30 days prior to the Annuity Commencement Date.

The Annuity Commencement Date and Income Payment method for Qualified Policies may also be controlled by endorsements, the plan, or applicable law.

***Income Payments***

*Election of Income Payment Options*

On the Annuity Commencement Date, the Accumulation Value will be applied to provide a monthly Income Payment. Unless you instruct us otherwise, we will make Income Payments under the Life Income – Guaranteed Period Payment Option, under which we will make equal Income Payments for your lifetime or for ten (10) years, if you die before receiving ten (10) years of Income Payments. (See "ANNUITY PAYMENTS" in the Statement of Additional Information.) However, on or before the Annuity Commencement Date, you can elect to receive Income Payments under such other option we may offer at that time where permitted by state laws. We will require that a lump sum payment be made if the Accumulation Value is an amount that would provide Income Payments of less than $20 a month on the Annuity Commencement Date. If the Life Income – Guaranteed Period Payment Option is not chosen, you may change the Income Payment option or request any other method of payment we agree to at any time before the Annuity Commencement Date. To change the Income Payment option or to request another method of payment prior to the Annuity Commencement Date, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. However, once payments begin, you may not change the option. If a life Income Payment option is chosen, we may require proof of birth date before Income Payments begin. For Income Payment options involving life income, the actual age of the Annuitant(s) will affect the amount of each payment. Since payments based on older Annuitants are expected to be fewer in number, the amount of each annuity payment should be greater. We will make payments under the Life Income Guaranteed Period Payment Option in the same specified amount and over the life of the Annuitant(s) with a guarantee of ten (10) years of payments, even if an Annuitant dies sooner. NYLIAC does not currently offer variable Income Payment options.

A policyowner may elect to apply a portion of the Accumulation Value toward one of the Income Payment options we may offer, while the remainder of the policy continues to accumulate income on a tax–deferred basis. This is called a partial annuitization. A partial annuitization will reduce the benefits provided under the policy. The Accumulation Value will be reduced by the amount placed under one of the Income Payment options we may offer. Under a partial annuitization, the policy's Accumulation Value, any riders under the policy and any charges assessed

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will be treated the same as they would under any other withdrawal from the policy's Accumulation Value, except that surrender charges will not be assessed. (See "FEDERAL TAX MATTERS.")

**It is important to note that partial annuitizations will reduce the Standard Death Benefit and any optional benefit proportionally.** 

Under Income Payment options involving life income, the Payee may not receive Income Payments equal to the total premium payments made under the policy if the Annuitant dies before the actuarially predicted date of death. We base Income Payment options involving life income on annuity tables that vary on the basis of gender, unless the policy was issued under an employer sponsored plan or in a state which requires unisex rates.

Taxable Income Payments may be subject to an additional 3.8 percent tax on net investment income. (See "FEDERAL TAX MATTERS—3.8 Percent Tax on Certain Investment Income.")

*Proof of Survivorship*

We may require satisfactory proof of survival from time to time, before we pay any Income Payments or other benefits. We will request the proof at least 30 days prior to the next scheduled Payment Date.

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**The Fixed Account**

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The Fixed Account is backed by assets in NYLIAC's general account, which includes all of NYLIAC's assets except those assets specifically allocated to NYLIAC's separate accounts. NYLIAC has sole discretion to invest the assets of the Fixed Account subject to applicable law. The Fixed Account is not registered under the federal securities laws and is generally not subject to their provisions. Therefore, generally you do not have the benefits and protections of these statutes for amounts allocated to the Fixed Account. These disclosures regarding the Fixed Account may be subject to certain applicable provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses. The Fixed Account is not available for policies issued in the State of New York. If the five–year Constant Maturity Treasury Rate, less 125 basis points, is below 3%, we may refuse the allocation of all or a portion of your Premium Payment to the Fixed Account.

*Interest Crediting*

NYLIAC guarantees that it will credit interest at an annual effective rate of at least the minimum guaranteed interest rate stated on the Policy Data Page of your policy, to amounts allocated or transferred to the Fixed Account under the policies. The guaranteed minimum interest rate will never be lower than 0.05% and as of the date of this Prospectus, the guaranteed minimum interest rate is 0.05%. Please contact your registered representative for the current guaranteed minimum interest rate. We credit interest on a daily basis. NYLIAC may, at its sole discretion, credit a higher rate or rates of interest to amounts allocated or transferred to the Fixed Account.

Interest rates will be set on the anniversary of each premium payment or transfer. All premium payments, any Premium Credit, any Breakpoint Credits, and additional amounts (including transfers from other Investment Divisions) allocated to the Fixed Account, plus prior interest earned on such amounts, will receive their applicable interest rate for one–year periods from the anniversary on which the allocation or transfer was made. The Fixed Account Accumulation Value will never be less than the Fixed Account portion of the Nonforfeiture Value.

Information regarding the features of the Fixed Account, including (i) its name and (ii) its guaranteed minimum interest rate, is available in an appendix to the prospectus. See Appendix 2A - Investment Options Available Under the Policy.

*Transfers Between the Fixed Account and Investment Divisions or an Asset Allocation Model*

Generally, you may transfer amounts from the Fixed Account (if applicable) to the Investment Divisions or an available Asset Allocation Model up to 30 days prior to the Annuity Commencement Date, subject to the following conditions.

&nbsp;&nbsp;&nbsp;&nbsp;1. The maximum amount you are allowed to transfer from the Fixed Account to the Investment Divisions or an available Asset Allocation Model, including Interest Sweep transfers, during any Policy Year while the Surrender Charge Period for the initial premium payment is in effect is 25% of the highest attained Fixed Account Accumulation Value as of the beginning of each Policy Year. When the Surrender Charge Period for the initial premium payment is no longer in effect, the maximum amount that you are allowed to transfer from the Fixed Account to the Investment Divisions or an Asset Allocation Model may not exceed 50% of the highest attained Fixed Account Accumulation Value as of the beginning of each Policy Year, regardless of any new Surrender Charge Periods applicable to additional premium payments. The highest attained Fixed Account Accumulation Value will decrease by the amount of any withdrawals made from the Fixed Account and increase by the amount of any additional premium payments made to the Fixed Account. When the Fixed Account Accumulation Value is zero, all previous Fixed Account Accumulation values are disregarded, and the next Premium Payment to the Fixed Account will then be considered the highest attained Fixed Account Accumulation Value until a subsequent anniversary results in a higher balance.

&nbsp;&nbsp;&nbsp;&nbsp;2. The remaining value in the Fixed Account after a transfer from the Fixed Account to the Investment Divisions or an available Asset Allocation Model must be at least $25. If, after a contemplated transfer, the remaining values in the Fixed Account would be less than $25, that amount must be included in the transfer, unless NYLIAC in its discretion permits otherwise. We determine amounts transferred from the Fixed Account on a first–in, first–out (FIFO) basis, for purposes of determining the rate at which we credit interest on amounts remaining in the Fixed Account.

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

&nbsp;&nbsp;&nbsp;&nbsp;3. For Premium Based M&E Charge policies, transfers are not allowed into the Fixed Account.

&nbsp;&nbsp;&nbsp;&nbsp;4. For Account Value based M&E Charge policies, transfers from the Investment Divisions to the Fixed Account must be at least $500.

For Premium based M&E Charge policies, premium payments transferred from the Fixed Account to the Investment Divisions or an Asset Allocation Model are subject to a Mortality and Expense Risk and Administrative Costs Charge.

Except as part of an existing request relating to the traditional Dollar Cost Averaging or the Interest Sweep option, you may not transfer money into the Fixed Account if you made a transfer out of the Fixed Account during the previous six–month period.

You must make transfer requests in writing in Good Order and send them to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus, by telephone in accordance with established procedures, or through our online service at www.newyorklife.com or the mobile application. Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion.

We will deduct partial withdrawals and apply any surrender charges to the Fixed Account on a FIFO basis (i.e., from any value in the Fixed Account attributable to premium payments or transfers from Investment Divisions or an Asset Allocation Model in the same order in which you allocated such payments or transfers to the Fixed Account during the life of the policy).

**The DCA Advantage Account**

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Like the Fixed Account, the DCA Advantage Account is also held in NYLIAC's general account. The DCA Advantage Account is not registered under the federal securities laws. The information contained in the first paragraph under "THE FIXED ACCOUNT" applies equally to the DCA Advantage Account.

Information regarding the features of the DCA Advantage Account, including (i) its name, (ii) its term, and (iii) its guaranteed minimum interest rate, is available in an appendix to the prospectus. See Appendix 2A: Investment Options Available Under the Policy.

NYLIAC will set interest rates in advance for each date on which we may receive a premium payment to the DCA Advantage Account. We will never declare less than the minimum guaranteed interest rate stated on the Policy Data Page of your policy. The guaranteed minimum interest rate will never be lower than 0.05% and as of the date of this Prospectus, the guaranteed minimum interest rate is 0.05%. If you choose to allocate your initial premium payment to the DCA Advantage Account, the initial premium, and any subsequent premium payments we receive for an initial DCA Advantage Account that is already open, will earn interest at the rate in effect on the date you signed your application. If an additional premium payment is allocated to the DCA Account after the duration of the initial account has expired, the DCA Advantage Account will be re-activated and will earn interest at the rate in effect on the Business Day we receive the premium payment.

Premium Credits and Breakpoint Credits will receive the applicable interest rate in effect on the Business Day we receive the premium payment. Interest rates for subsequent premium payments made into the DCA Advantage Account may be different from the rate applied to prior premium payments made into the DCA Advantage Account. The DCA Advantage Account Accumulation Value will never be less than the DCA Advantage Account portion of the Nonforfeiture Value.

The annual effective rate that we declare is credited only to amounts remaining in the DCA Advantage Account. We credit the interest on a daily basis. Because money is periodically transferred out of the DCA Advantage Account, amounts in the DCA Advantage Account will not achieve the declared annual effective rate. Please note that interest credited under the DCA Advantage Account will exceed the actual investment earnings of NYLIAC less appropriate risk and expense adjustments. **Excess interest amounts credited to the DCA Advantage Account will be recovered by fees and charges associated with the Investment Divisions in later Policy Years. The interest credited in later Policy Years may be less than that for the first Policy Year.** 

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**Federal Tax Matters**

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***Introduction***

**The following discussion is general and is not intended as tax advice.** We issue both Qualified and Non-Qualified Policies. Both types of policies offer tax-deferred accumulation. A Non-Qualified Policy can provide for retirement income other than through a tax-qualified plan. Qualified Policies are designed for use by individuals in retirement plans which are intended to qualify as plans qualified for special income tax treatment under Sections 219, 403(b), 408, or 408A of the Code. The ultimate effect of federal income taxes on the Accumulation Value, on Income Payments, and on the economic benefit to you, the Annuitant or the Beneficiary depends on the type of retirement plan for which the Qualified Policy is purchased, on the tax and employment status of the individual concerned and on NYLIAC's tax status. The following discussion assumes that Qualified Policies are used in retirement plans that qualify for the special federal income tax treatment described above. This discussion is not intended to address the tax consequences resulting from all of the situations in which a person may be entitled to or may receive a distribution under a policy. Any person concerned about these tax implications should consult a tax adviser before making a premium payment. This discussion is based upon NYLIAC's understanding of the present federal income tax laws as they are currently interpreted by the Internal Revenue Service. We cannot predict the likelihood of continuation of the present federal income tax laws or of the current interpretations by the Internal Revenue Service, which may change from time to time without notice. Any such change could have retroactive effects regardless of the date of enactment. Moreover, this discussion does not take into consideration any applicable state or other tax laws except with respect to the imposition of any state premium taxes. We suggest you consult with your tax adviser.

***Taxation of Annuities in General***

The following discussion assumes that the policies will qualify as annuity contracts for federal income tax purposes. The Statement of Additional Information discusses such qualifications.

Section 72 of the Code governs taxation of annuities in general. NYLIAC believes that an annuity policyowner generally is not taxed on increases in the value of a policy until distribution occurs either in the form of a lump sum received by withdrawing all or part of the Accumulation Value (i.e., surrenders or partial withdrawals) or as Income Payments under the Income Payment option elected. The exception to this rule is that generally, a policyowner of any deferred annuity policy who is not a natural person must include in income any increase in the excess of the policyowner's Accumulation Value over the policyowner's investment in the contract during the taxable year. However, there are some exceptions to this exception. You may wish to discuss these with your tax advisor. The taxable portion of a distribution (in the form of an annuity or lump sum payment) is generally taxed as ordinary income. For this purpose, the assignment, pledge, or agreement to assign or pledge any portion of the Accumulation Value generally will be treated as a distribution.

In the case of a withdrawal or surrender distributed to a participant or Beneficiary under a Qualified Policy, a ratable portion of the amount received is taxable, generally based on the ratio of the investment in the contract to the total policy value. The "investment in the contract" generally equals the portion, if any, of any premium payments paid by or on behalf of an individual under a policy which is not excluded from the individual's gross income. For policies issued in connection with qualified plans, the "investment in the contract" can be zero. The law requires the use of special simplified methods to determine the taxable amount of payments that are based in whole or in part on the Annuitant's life and that are paid from TSAs.

Generally, in the case of a withdrawal under a Non-Qualified Policy before the Annuity Commencement Date, amounts received are first treated as taxable income to the extent that the Accumulation Value immediately before the withdrawal exceeds the "investment in the contract" at that time. Any additional amount withdrawn is not taxable. On the other hand, upon a full surrender of a Non-Qualified Policy, if the "investment in the contract" exceeds the Accumulation Value (less any surrender charges), the loss is treated as an ordinary loss for federal income tax purposes. However, limitations may apply to the amount of the loss that may be deductible.

Although the tax consequences may vary depending on the Income Payment option elected under the policy, in general, only the portion of the Income Payment that represents the amount by which the Accumulation Value exceeds the "investment in the contract" will be taxed. After the investment in the Policy is recovered, the full amount of any additional Income Payments is taxable. For fixed Income Payments, in general, there is no tax on the portion of each payment which represents the same ratio that the "investment in the contract" bears to the total expected value

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of the Income Payments for the term of the payments. However, the remainder of each Income Payment is taxable until the recovery of the investment in the contract, and thereafter the full amount of each annuity payment is taxable. If death occurs before full recovery of the investment in the contract, the unrecovered amount may be deducted on the Annuitant's final tax return.

A policyowner may elect to apply a portion of the Accumulation Value towards one of the Income Payment options we may offer, while the remainder of the policy continues to accumulate income on a tax-deferred basis. This is called a partial annuitization. If a policyowner chooses to partially annuitize a policy, the resulting payments will be taxed as fixed Income Payments described above, only if such payments are received for one of the following periods: (1) the Annuitant's life (or the lives of the joint Annuitants, if applicable), or (2) a period of 10 years or more. Provided such requirements are met, the "investment in the contract" will be allocated pro rata between each portion of the policy from which amounts are received as an annuity and the portion of the policy from which amounts are not received as an annuity.

In the case of a distribution, a penalty tax equal to 10% of the amount treated as taxable income may be imposed. The penalty tax is not imposed in certain circumstances, including, generally, distributions: (1) made on or after the date on which the policyowner attains age 59½, (2) made as a result of the policyowner's (or, where the policyowner is not an individual, the Annuitant's) death, (3) made as a result of the policyowner's disability, (4) which are part of a series of substantially equal periodic payments (at least annually) made for the life (or life expectancy) of the policyowner or the joint lives (or joint life expectancies) of the policyowner and his or her designated beneficiary, or (5) received from an Inherited IRA. Other tax penalties may apply to certain distributions pursuant to a Qualified Policy. For more details regarding this penalty tax and other exemptions that may be applicable, please consult a tax adviser.

All non-qualified, deferred annuity contracts issued by NYLIAC (or its affiliates) to the same policyowner during any calendar year are to be treated as one annuity contract for purposes of determining the extent to which an amount not received as an annuity is includible in an individual's gross income. In addition, there may be other situations in which the Treasury Department may conclude (under its authority to issue regulations) that it would be appropriate to aggregate two or more annuity contracts purchased by the same policyowner. Accordingly, a policyowner should consult a tax adviser before purchasing more than one policy or other annuity contract.

A transfer of ownership of a policy, or designation of an Annuitant or other Beneficiary who is not also the policyowner, may result in certain income or gift tax consequences to the policyowner. A policyowner contemplating any transfer or assignment of a policy should consult a tax adviser with respect to the potential tax effects of such a transaction.

***3.8 Percent 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., an 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 the policy, distributions or withdrawals from the policy, or the exercise of other rights and features under this annuity contract.

***Partial Section 1035 Exchanges***

Section 1035 of the Code provides that an annuity contract may be exchanged in a tax-free transaction for another annuity contract or a long-term care insurance policy. The IRS has issued guidance which provides that the direct transfer of a portion of an annuity contract into another annuity contract can qualify as a tax-free exchange, provided that no amounts (other than annuity payments made for life or for a term of at least 10 years) are distributed from either contract involved in the exchange for 180 days following the date of the transfer. If a taxpayer takes a distribution during this 180-day waiting period, the IRS guidance provides that the IRS will apply general tax principles

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to determine the tax treatment of the transfer and/or the distribution (e.g., in appropriate circumstances, as taxable "boot" or as a taxable distribution, effectively negating the tax-free exchange).

This IRS guidance, however, does not address the tax treatment of a partial exchange of an annuity contract for a long-term care insurance policy. Although we believe that taking a distribution or withdrawal from the Contract described in this Prospectus within 180 days of a partial exchange of such Contract for a long-term care insurance policy should not cause such prior partial exchange to be treated as taxable, there can be no assurance that the IRS will not expand the 180-day rule described above to partial exchanges of an annuity contract for a long-term care insurance policy, or that the IRS will not provide other guidance with respect to such partial exchanges. **If you contemplate such an exchange, you should consult a tax advisor to discuss the potential tax effects of such a transaction.**

***Qualified Policies***

Qualified Policies are designed for use with retirement plans that qualify for special federal income tax treatment under Sections 219, 403(b), 408, and 408A of the Code. The tax rules applicable to participants and beneficiaries in these plans vary according to the type of plan and the terms and conditions of the plan itself. Special favorable tax treatment may be available for certain types of contributions and distributions (including special rules for certain lump sum distributions to individuals who attained the age of 50 by January 1, 1986). Adverse tax consequences may result from contributions in excess of specified limits, distributions prior to age 59½ (subject to certain exceptions), distributions that do not conform to specified minimum distribution rules and in certain other circumstances. Therefore, this discussion only provides general information about the use of Qualified Policies with the plans described below. Policyowners and participants under these plans, as well as Annuitants and Beneficiaries are cautioned that the rights of any person to any benefits under the plans may be subject to the terms and conditions of the plans themselves, regardless of the terms and conditions of the policy issued in connection with the plan. Purchasers of Qualified Policies should seek legal and tax advice regarding the suitability of the policy.

*(a) 403(b) Plans.*

Under Section 403(b) of the Code, payments made by public school systems and certain tax exempt organizations to purchase annuity policies for their employees are excludible from the gross income of the employee, subject to certain limitations. However, such payments may be subject to FICA (Social Security) taxes.

*Important Information Regarding Final Code Section 403(b) Regulations* 

On July 26, 2007, the Department of the Treasury published final Code section 403(b) regulations that were largely effective on January 1, 2009. These comprehensive regulations include several new rules and requirements, such as a requirement that employers maintain their Code section 403(b) plans pursuant to a written plan. The final regulations, subsequent IRS guidance, and the terms of the written plan and/or the written information sharing agreement between the employer and NYLIAC may impose new restrictions on both new and existing Code section 403(b) TSA contracts, including restrictions on the availability of loans, distributions, transfers and exchanges, regardless of when a contract was purchased.

Prior to the effective date of the final regulations, IRS guidance applicable to tax-free transfers and exchanges of Code section 403(b) TSA contracts or custodial accounts became effective September 25, 2007, replacing existing rules under IRS Revenue Ruling 90-24 previously applicable to such transfers and exchanges (a "90-24 transfer"). Under this guidance, transfers and exchanges (both referred to below as "transfers") are available only to the extent permitted under the employer's written Code section 403(b) plan.

Transfers occurring after September 24, 2007 that do not comply with this guidance can result in the applicable contract becoming taxable on January 1, 2009, or the date of the transfer, whichever is later. If you make a transfer to a contract or custodial account that is not part of the employer's Code section 403(b) plan (other than a transfer to a different plan), and the contract provider and employer fail to enter into an information sharing agreement by January 1, 2009, the transfer would be considered a "failed" transfer, resulting in the applicable contract becoming subject to tax.

In general, certain contracts originally established by a 90-24 transfer prior to September 25, 2007, are exempt (or grandfathered) from some of the requirements of the final regulations; provided that no salary reduction or other

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contributions have ever been made to such contracts, and that no additional transfers are made to such contracts on or after September 25, 2007. Further, contracts that are not grandfathered are generally required to be part of, and subject to the requirements of, an employer's written Code section 403(b) plan no later than by January 1, 2009.

The new rules in the final regulations generally do not affect a participant's ability to transfer some or all of a Code section 403(b) TSA contract to a state-defined benefit plan to purchase service credits, where such a transfer is otherwise consistent with applicable rules and requirements and with the terms of the employer's plan.

You should discuss with your tax advisor the final Code section 403(b) regulations and other applicable IRS guidance in order to determine the impact they may have on any existing Code section 403(b) TSA contracts that you may own and/or on any Code section 403(b) TSA contract that you may consider purchasing.

*(b) Individual Retirement Annuities.*

Sections 219 and 408 of the Code permit individuals or their employers to contribute to an individual retirement program known as an "Individual Retirement Annuity" or "IRA," including an employer-sponsored Simplified Employee Pension or "SEP." Individual Retirement Annuities are subject to limitations on the amount which may be contributed and deducted and the time when distributions may commence. In addition, distributions from certain other types of qualified plans may be placed into IRAs on a tax-deferred basis.

*(c) Roth Individual Retirement Annuities.*

Section 408A of the Code permits individuals with incomes below a certain level to contribute to an individual retirement program known as a "Roth Individual Retirement Annuity" or "Roth IRA." Roth IRAs are subject to limitations on the amount that may be contributed. Contributions to Roth IRAs are not deductible, but distributions from Roth IRAs that meet certain requirements are not included in gross income. Individuals generally may convert their existing non-Roth IRAs into Roth IRAs. A direct rollover may also be made from an eligible retirement plan other than a non-Roth IRA (such as a qualified retirement plan, section 403(b) tax sheltered annuity, or eligible governmental section 457 plan) to a Roth IRA provided applicable requirements are met. Such conversions and rollovers will be subject to income tax at the time of conversion or rollover.

*(d) Inherited IRAs.*

This policy may also be issued as an inherited IRA if, after the death of the owner of an IRA, the named Beneficiary directs that the IRA death proceeds be transferred to a new policy issued as an Inherited IRA. Beginning in 2007, a non-spouse beneficiary of an eligible retirement plan (such as a qualified retirement plan, section 403(b) tax sheltered annuity, or eligible governmental section 457 plan) may, if all applicable requirements are met, directly rollover a distribution from such plan into an Inherited IRA. The named Beneficiary of the original IRA policy or eligible retirement plan (as the case may be) will become the Annuitant under the Inherited IRA and may generally exercise all rights under the Inherited IRA policy, including the right to name his or her own Beneficiary in the event of death.

Special tax rules apply to an Inherited IRA. The tax law does not permit additional premiums to be contributed to an Inherited IRA policy. Also, in order to avoid certain income tax penalties, a Required Minimum Distribution ("RMD") generally must be withdrawn each year from an inherited IRA policy. The first RMD generally must be taken on or before December 31 of the calendar year following the year of the original IRA owner's or eligible retirement plan participants' death. As of January 1, 2023, the penalty tax equals 25% of the excess of the RMD amount over the amounts, if any, actually withdrawn from the Inherited IRA during the calendar year. If a failure to take an RMD is corrected in a timely manner, as prescribed under the Code, the excise tax is reduced to 10%. With respect to IRA owners and defined contribution plan participants who die on or after January 1, 2020, any individual policyowner who is not an "Eligible Designated Beneficiary" must withdraw the entire account value by the end of the tenth year following the year of death (if the original IRA owner or plan participant died before required minimum distributions were required to begin, an individual policyowner who is not an Eligible Designated Beneficiary is not required to withdraw any amount until the end of the tenth year following the year of death, at which time the entire account value must be withdrawn). Eligible Designated Beneficiaries may withdraw the account value over their lives or a period not exceeding their life expectancies. Eligible Designated Beneficiaries include spouses, minor children (until they reach age 21), someone who is disabled or chronically ill (including certain trusts for the disabled or chronically ill), or an individual not more than 10 years younger than the original IRA owner or plan participant.

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*(e) SIMPLE IRAs.*

SIMPLE IRAs permit certain small employers to establish SIMPLE IRA plans as provided by Section 408(p) of the Code, under which employees may elect to defer to a Simple IRA a percentage of compensation up to a certain amount (which is adjusted each year for cost-of-living increases in accordance with the Code). Employees who attain age 50 or over by the end of the relevant calendar year may also elect to make an additional catch-up contribution up to a certain amount (which is adjusted each year for cost-of-living increases in accordance with the Code). The sponsoring employer is generally required to make matching or non-elective contributions on behalf of employees. Distributions from SIMPLE IRAs are subject to the same restrictions that apply to IRA distributions and are taxed as ordinary income. Subject to certain exceptions, distributions prior to age 59½ are subject to a 10% penalty tax, which is increased to 25% if the distribution occurs within the first two years after the commencement of the employee's participation in the SIMPLE IRA plan. All references in this Prospectus to the 10% penalty tax should be read to include this limited 25% penalty tax if your Qualified Policy is used as a SIMPLE IRA.

The Qualified Policies (other than Roth IRAs during the owner's life) are subject to the RMD rules under Code section 401(a)(9) and the regulations issued thereunder. Under these rules, generally, distributions under your Qualified Policy must begin no later than the beginning date required by the Internal Revenue Service ("IRS"). The beginning date is determined by the type of Qualified Policy that you own. As of January 1, 2023, for each calendar year that an RMD is not timely made, a 25% excise tax is imposed on the amount that should have been distributed, but was not. If a failure to take an RMD is corrected in a timely manner, as prescribed under the Code, the excise tax is reduced to 10%.

Unless the distributions are made in the form of an annuity that complies with Code section 401(a)(9) and the regulations issued thereunder, the minimum amount required to be distributed for each calendar year is generally determined by dividing the value of the Qualified Policy as of the end of the prior calendar year by the applicable distribution period (determined under IRS tables).

Beginning in 2006, regulations under Code section 401(a)(9) provide a new method for calculating the amount of RMDs from Qualified Policies. Under these regulations, during the accumulation phase of the Qualified Policy, the actuarial present value of certain additional benefits provided under the policy (such as guaranteed death benefits) must be taken into account in calculating the value of the Qualified Policy for purposes of determining the annual RMD for the Qualified Policy. As a result, under these regulations, it is possible that, after taking account of the value of such benefits, there may not be sufficient Accumulation Value to satisfy the applicable RMD requirement. This generally will depend on the investment performance of your policy. You may need to satisfy such RMD from other tax-qualified plans that you own. You should consult with your tax advisor regarding these requirements and the implications of purchasing any riders or other benefits in connection with your Qualified Policy.

Effective as of December 29, 2022, if distributions from your IRA are made in the form of an annuity, and the annuity payments in a year exceed the amount that would be required to be distributed for the year under the rules for non-annuitized accounts (determined by treating the IRA's account balance as including the value of the annuity), the excess can be counted towards satisfying the required minimum distribution with respect to any non-annuitized account balance in your IRA(s). You should consult your tax advisor if you want to use this special rule.

***Taxation of Death Benefits***

The tax treatment of amounts distributed from your contract upon the death of the policyowner or Annuitant depends on whether the policyowner or Annuitant dies before or after the Annuity Commencement Date. If death occurs prior to the Annuity Commencement Date, and the Beneficiary receives payments under an annuity payout option, the benefits are generally taxed in the manner described above for annuity payouts. If the benefits are received in a lump sum, they are taxed to the extent they exceed the remaining investment in the contract. If death occurs after the Annuity Commencement Date, amounts received by the Beneficiary are not taxed until they exceed the remaining investment in the contract.

**Distribution and Compensation Arrangements**

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NYLIFE Distributors LLC ("NYLIFE Distributors"), the underwriter and distributor of the policies, is registered with the SEC and the Financial Industry Regulatory Authority, Inc. (FINRA) as a broker-dealer. The firm is an indirect

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wholly-owned subsidiary of New York Life, 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, LLC ("NYLIFE Securities"), a broker-dealer that is an affiliate of NYLIFE Distributors. Your registered representative is also a licensed insurance agent with NYLIAC. 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 New York Life or its affiliates and products provided by other companies.

NYLIFE Securities and in turn your registered representative, 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 will vary depending on the policy, the age of the Owner and whether the source of funds is from an internal exchange. Differing compensation arrangements have the potential to influence the recommendation made by your registered representative or broker-dealer.

The maximum commission and expense allowance paid to NYLIFE Securities registered representatives is typically 5% of all premiums received.

The total commissions paid for New York Life Premier Plus Variable Annuity policies during the fiscal years ended December 31, 2025, 2024, and 2023 were $1,917,766, $2,218,101 and $2,724,556, respectively.

NYLIFE Distributors did not retain any of these commissions. The policies are sold and premium payments are accepted on a continuous basis.

New York Life also has other compensation programs where managers and employees involved in the sales process receive additional compensation related to the sale of products manufactured and issued by New York Life or its affiliates.

NYLIFE Securities registered representatives can qualify to attend New York Life-sponsored educational, training, and development conferences based on the sales they make of life insurance, annuities, and investment products during a particular twelve-month period. In addition, qualification for recognition programs sponsored by New York Life depends on the sale of products manufactured and issued by New York Life or its affiliates.

**Additional Information about Risks**

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***Information System Failures and Cybersecurity Risks***

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 online service at www.newyorklife.com or 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/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 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. Despite these controls and plans, systems failures and cyber-attacks/ransomware affecting New York Life and any of its 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 Accumulation Value. For instance, system failures and cyber-attacks/ransomware may (i) interfere with our processing of policy transactions (including surrenders, withdrawals, loans, and transfers) and the processing of orders from www.newyorklife.com or the mobile application, or with the underlying funds or cause other operations issues; (ii) impact our ability to calculate Accumulation Unit Values and your policy's Accumulation Values; (iii) cause the release, loss, and/or possible destruction of confidential customer and/or business information; (iv) subject us and/or our service providers, business partners, and intermediaries to regulatory fines, litigation, and financial losses, and/or cause us reputational damage. System failures and cybersecurity breaches may also impact the issuers of securities in which the

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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/ransomware.

***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 Accumulation 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 surrenders, withdrawals, loans, and transfers) and the processing of orders from online service requests at www.newyorklife.com or 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's Accumulation 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 services 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.

**Legal Proceedings**

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NYLIAC is a defendant in lawsuits arising from its agency sales force, insurance (including variable contracts registered under the federal securities laws) and/or other operations. Some of these actions seek substantial or unspecified compensatory and punitive damages. NYLIAC is 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 the Separate Accounts, the ability of NYLIFE Distributors to perform its contract with the Separate Accounts, NYLIAC's financial position, or the ability of NYLIAC to meet its obligations under the Contracts; 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.

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**Voting Rights**

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The Portfolios are not required to and typically do not hold routine annual stockholder meetings. Special stockholder meetings will be called when necessary. Based on our current interpretation of applicable law, NYLIAC will vote the Portfolio shares held in the Investment Divisions at special shareholder meetings of the Portfolios in accordance with instructions we receive from persons having voting interests in the corresponding Investment Division. If, however, the federal securities laws are amended, or if NYLIAC's present interpretation should change, and as a result, NYLIAC determines that it is allowed to vote the Portfolio shares in its own right, we may elect 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 Portfolio. In addition, we may disregard voting instructions that would require changes in the investment policy or investment adviser of one or more of the Portfolios 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.

Prior to the Annuity Commencement Date, you hold a voting interest in each Investment Division to which you have money allocated. We will determine the number of votes which are available to you by dividing the Accumulation Value attributable to an Investment Division by the net asset value per share of the applicable Portfolios. We will calculate the number of votes which are available to you separately for each Investment Division. We will determine that number by applying your percentage interest, if any, in a particular Investment Division to the total number of votes attributable to the Investment Division.

We will determine the number of votes of the Portfolio which are available as of the date established by the Portfolio of the relevant Fund. Voting instructions will be solicited by written or electronic communication prior to such meeting in accordance with procedures established by the relevant Fund.

If we do not receive timely instructions, we will vote those shares in proportion to the voting instructions which are received with respect to all policies participating in that Investment Division. Any shares owned by NYLIAC and its affiliates will also be voted proportionately in accordance with those instructions. As a result, a small number of policyowners may control the outcome of the vote. Each person having a voting interest in an Investment Division will receive proxy material, reports and other materials relating to the appropriate Portfolio.

**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 each of the Investment Divisions of each Separate Account's statement 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.

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**Appendix 1** 

**INFORMATION REGARDING SINGLE PREMIUM POLICIES**

**Prospectus Dated May 1, 2025** 

NYLIAC offers an individual single premium version of the New York Life Premier Variable Annuity policy in Mississippi and Washington. This APPENDIX modifies the May 1, 2025 Prospectus for the policies that describe the single premium version of the policies.

All capitalized terms have the same meaning as those in the Prospectus.

The principal differences between the single premium version and the flexible premium version of the policies is that under the single premium policies you can make only one premium payment.

Accordingly, for single premium policies, the prospectus is amended in the following respects:

***I. SINGLE PREMIUM ONLY*** 

When reading this APPENDIX together with the Prospectus, keep in mind that only one premium payment was permitted under the single premium policies and only one Breakpoint Credit (if applicable) was applied to such premium payment. Exceptions to this rule apply only in cases where part of your purchase payment is funded from another source, such as 1035 exchange, rollover, or transfer from an institution. In such cases, we may receive parts of your purchase payment on different business days.

Accordingly, except in the circumstances described above, all references throughout the prospectus to premium payments in the plural (and any Breakpoint Credit(s) thereon) should be read to mean the singular. Further, references to allocations of premium payments (and any Breakpoint Credit(s) thereon) should be read to mean an allocation of the premium or any portion thereof (and any Breakpoint Credit(s) thereon). Naturally, any features or services that relate to multiple premium payments are not applicable to the single premium policy.

Replace all references to "Payment Year" throughout the Prospectus with "Policy Year," and delete the definition of "Payment Year."

***II. MAINTENANCE OF POLICY VALUE*** 

Replace the paragraph under "DISTRIBUTIONS UNDER THE POLICY—Our Right to Cancel" with the following:

If a partial withdrawal, together with any surrender charges, would reduce the Accumulation Value of your policy such that it would provide for Income Payments of less than $20 per month on the Annuity Commencement Date, we reserve the right to terminate your policy. We will notify you of our intention to exercise this right 90 days prior to terminating your policy. If we terminate your policy, we will pay you the Accumulation Value of your policy in one lump sum.

Appendix 1-1

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**Appendix 2A**

***Investment Options Available Under the Policy***

The following is a list of Portfolios available under the policy, which is subject to change, as discussed in the prospectus. Depending on the optional benefits you choose, you may not be able to invest in certain Portfolios. You can find the prospectuses and other information about the Portfolios online at https://dfinview.com/NewYorkLife/TAHD/premierplus. You can also request this information at no cost by calling the VPSC at 1-800-598-2019 or by sending an email request with your name and mailing address to PremierPlusProspectus@newyorklife.com.

The current expenses and performance information below reflects fees and expenses of the Portfolios but does not reflect the other fees and expenses that your policy may charge. Expenses would be higher and performance would be lower if these charges were included. Each Portfolio's past performance is not necessarily an indication of future performance.

If you purchased an investment protection rider, you may not be able to invest in certain Portfolios. If you have purchased the Investment Protection Plan (IPP) after February 15, 2010 or Investment Protection Plan II (IPP II), your available allocation options are listed in APPENDIX 2B below. If you have purchased the Guaranteed Investment Protection Rider (GIPR) or Guaranteed Investment Protection Rider 2.0 (GIPR 2.0), your available allocation options are listed in APPENDIX 2C below.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Large Cap Equity | NYLIM VP American Century Large Cap Equity <br> (formerly NYLI VP American Century <br> Sustainable Equity) — Service Class<br>*Adviser: New York Life Investment Management* <br> *LLC ("New York Life Investments") /*<br> *Subadviser: American Century Investment* <br> *Management, Inc.*<br>| 0.93% | 11.06% | 13.68% | 11.58% |
| Asset Allocation | NYLIM VP Balanced (formerly NYLI VP <br> Balanced) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadvisers: NYL Investors LLC ("NYL* <br> *Investors") and Wellington Management* <br> *Company LLP ("Wellington")*<br>| 0.97% | 11.16% | 7.14% | 7.04% |
| Investment<br> Grade Bond<br>| NYLIM VP Bond (formerly NYLI VP Bond) — <br> Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: NYL Investors*<br>| 0.80% | 6.57% | (0.88)% | 1.71% |
| International/Global<br> Equity<br>| NYLIM VP Candriam Emerging Markets Equity <br> (formerly NYLI VP Candriam Emerging Markets <br> Equity) — Service Class<sup>+</sup> <br>*Adviser: New York Life Investments /* <br> *Subadviser: Candriam*<br>| 1.45% | 35.54% | 2.52% | 7.39%  |

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Appendix 2A-1

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Sector | NYLIM VP CBRE Global Infrastructure (formerly <br> NYLI VP CBRE Global Infrastructure) — Service <br> Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: CBRE Investment Management* <br> *Listed Real Assets LLC*<br>| 1.20% | 15.31% | 6.79% | 2.39% |
| Asset Allocation | NYLIM VP Conservative Allocation (formerly <br> NYLI VP Conservative Allocation) — Service <br> Class<br>*Adviser: New York Life Investments*<br>| 0.80% | 9.29% | 3.67% | 5.14% |
| Large Cap Equity | NYLIM VP Dimensional U.S. Equity (formerly <br> NYLI VP Dimensional U.S. Equity) — Service <br> Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Dimensional Fund Advisors LP*<br>| 0.79% | 13.46% | 12.11% | 12.40% |
| Large Cap Equity | NYLIM VP Epoch U.S. Equity Yield (formerly <br> NYLI VP Epoch U.S. Equity Yield) — Service <br> Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Epoch Investment Partners, Inc.* <br> *("Epoch")*<br>| 0.93% | 13.96% | 11.74% | 9.69% |
| Asset Allocation | NYLIM VP Equity Allocation (formerly NYLI VP <br> Equity Allocation) — Service Class<br>*Adviser: New York Life Investments*<br>| 0.94% | 13.69% | 7.90% | 9.07% |
| Sector | NYLIM VP Fidelity Institutional AM<sup>®</sup> Utilities <br> (formerly NYLI VP Fidelity Institutional AM<sup>®</sup> <br> Utilities) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: FIAM LLC ("FIAM")*<br>| 0.93% | 13.50% | 12.06% | 10.69% |
| Non-Investment<br> Grade Bond<br>| NYLIM VP Floating Rate (formerly NYLI VP <br> Floating Rate) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: NYL Investors*<br>| 0.89% | 4.86% | 5.16% | 4.74% |
| Asset Allocation | NYLIM VP Growth Allocation (formerly NYLI VP <br> Growth Allocation) — Service Class<br>*Adviser: New York Life Investments*<br>| 0.89% | 12.24% | 7.06% | 8.05% |
| Alternatives | NYLIM VP Hedge Multi-Strategy (formerly NYLI <br> VP Hedge Multi-Strategy) — Service Class<br>*Adviser: New York Life Investments*<br>| 1.26% | 7.78% | 2.67% | 1.81%  |

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Appendix 2A-2

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Asset Allocation | NYLIM VP Income Builder (formerly NYLI VP <br> Income Builder) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadvisers: Epoch and MacKay Shields LLC* <br> *("MacKay")*<br>| 0.88% | 16.70% | 6.29% | 7.13% |
| Asset Allocation | NYLIM VP Janus Henderson Balanced (formerly <br> NYLI VP Janus Henderson Balanced) — <br> Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Janus Henderson Investors US LLC* <br> *("Janus Henderson")*<br>| 0.83% | 14.76% | 8.30% | 9.91% |
| Non-Investment<br> Grade Bond<br>| NYLIM VP MacKay Convertible (formerly NYLI <br> VP MacKay Convertible) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MacKay*<br>| 0.84% | 16.11% | 5.34% | 10.10% |
| Non-Investment<br> Grade Bond<br>| NYLIM VP MacKay High Yield Corporate Bond <br> (formerly NYLI VP MacKay High Yield Corporate <br> Bond) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MacKay*<br>| 0.84% | 6.60% | 4.18% | 5.87% |
| Non-Investment<br> Grade Bond<br>| NYLIM VP MacKay Strategic Bond (formerly <br> NYLI VP MacKay Strategic Bond) — Service <br> Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MacKay*<br>| 0.90% | 8.60% | 3.73% | 4.14% |
| Investment<br> Grade Bond<br>| NYLIM VP MacKay U.S. Infrastructure Bond <br> (formerly NYLI VP MacKay U.S. Infrastructure <br> Bond) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MacKay*<br>| 0.82% | 8.17% | (0.15)% | 1.13% |
| Large Cap Equity | NYLIM VP MFS<sup>®</sup> Investors Trust (formerly NYLI <br> VP MFS<sup>®</sup> Investors Trust) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Massachusetts Financial Services* <br> *Company ("MFS")*<br>| 1.00% | N/A | N/A | N/A |
| Large Cap Equity | NYLIM VP MFS<sup>®</sup> Research (formerly NYLI VP <br> MFS<sup>®</sup> Research) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MFS*<br>| 1.01% | N/A | N/A | N/A  |

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Appendix 2A-3

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Asset Allocation | NYLIM VP Moderate Allocation (formerly NYLI <br> VP Moderate Allocation) — Service Class<br>*Adviser: New York Life Investments*<br>| 0.83% | 11.02% | 5.36% | 6.61% |
| Sector | NYLIM VP Natural Resources (formerly NYLI VP <br> Natural Resources) — Initial Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Newton Investment Management* <br> *North America, LLC ("NIMNA")*<br>| 0.85% | 15.20% | 17.27% | 10.88% |
| Sector | NYLIM VP Newton Technology Growth (formerly <br> NYLI VP Newton Technology Growth) — <br> Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: NIMNA*<br>| 1.03% | N/A | N/A | N/A |
| Investment<br> Grade Bond<br>| NYLIM VP PIMCO Real Return (formerly NYLI <br> VP PIMCO Real Return) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Pacific Investment Management* <br> *Company LLC ("PIMCO")*<br>| 1.34% | 7.89% | 1.11% | 3.03% |
| International/Global<br> Equity<br>| NYLIM VP PineStone International Equity <br> (formerly NYLI VP PineStone International <br> Equity) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: PineStone Asset Management Inc.*<br>| 1.11% | 12.01% | (0.05)% | 5.18% |
| Large Cap Equity | NYLIM VP S&P 500 Index (formerly NYLI VP <br> S&P 500 Index) — Service Class<br>*Adviser: New York Life Investments*<br>| 0.37% | 17.43% | 14.00% | 14.34% |
| Small/Mid Cap<br> Equity<br>| NYLIM VP Schroders Mid Cap Opportunities <br> (formerly NYLI VP Schroders Mid Cap <br> Opportunities) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Schroder Investment Management* <br> *North America Inc.*<br>| 1.08% | 7.00% | 4.79% | 7.12% |
| Small/Mid Cap<br> Equity<br>| NYLIM VP Small Cap Growth (formerly NYLI VP <br> Small Cap Growth) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadvisers: Brown Advisory, LLC and Segall* <br> *Bryant & Hamill, LLC*<br>| 1.11% | 4.63% | 1.38% | 8.68%  |

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Appendix 2A-4

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Money Market | NYLIM VP U.S. Government Money Market <br> (formerly NYLI VP U.S. Government Money <br> Market) — Initial Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: NYL Investors*<br>| 0.28% | 4.05% | 3.02% | 1.89% |
| Large Cap Equity | NYLIM VP Wellington Growth (formerly NYLI VP <br> Wellington Growth) — Service Class<sup>+</sup> <br>*Adviser: New York Life Investments /* <br> *Subadviser: Wellington*<br>| 0.98% | 16.77% | 10.10% | 13.17% |
| Small/Mid Cap<br> Equity<br>| NYLIM VP Wellington Small Cap (formerly NYLI <br> VP Wellington Small Cap) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Wellington*<br>| 1.00% | 9.26% | 5.66% | 7.15% |
| Large Cap Equity | NYLIM VP Winslow Large Cap Growth (formerly <br> NYLI VP Winslow Large Cap Growth) — Service <br> Class<br>*Adviser: New York Life Investments*<br> */ Subadviser: Winslow Capital Management,* <br> *LLC*<br>| 1.00% | 14.07% | 12.41% | 15.85% |
| Large Cap Equity | AB VPS Relative Value Portfolio — Class B<br>*Adviser: AllianceBernstein L.P.*<br>| 0.84% | 10.20% | 11.15% | 10.30% |
| Asset Allocation | American Funds<sup>®</sup> IS Asset Allocation Fund — <br> Class 4<br>*Adviser: Capital Research and Management* <br> *Company*<sup>SM</sup> *("CRMC")*<br>| 0.79% | 15.59% | 8.70% | 9.50% |
| Investment Grade <br> Bond<br>| American Funds<sup>®</sup> IS The Bond Fund of <br> America<sup>®</sup> — Class 4<br>*Adviser: CRMC*<br>| 0.72% | 6.98% | (0.38)% | 2.11% |
| Investment<br> Grade Bond<br>| American Funds<sup>®</sup> IS Capital World Bond Fund<sup>®</sup> <br> — Class 4<br>*Adviser: CRMC*<br>| 0.98% | 9.03% | (2.76)% | 0.97% |
| Large Cap Equity | American Funds<sup>®</sup> IS Growth Fund — Class 4<br>*Adviser: CRMC*<br>| 0.83% | 19.93% | 13.09% | 17.67% |
| Large Cap Equity | American Funds<sup>®</sup> IS Growth-Income Fund — <br> Class 4<br>*Adviser: CRMC*<br>| 0.78% | 17.77% | 13.62% | 13.63%  |

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Appendix 2A-5

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| International/Global<br> Equity<br>| American Funds<sup>®</sup> IS New World Fund<sup>®</sup> — Class <br> 4<br>*Adviser: CRMC*<br>| 1.07% | 27.92% | 5.06% | 8.98% |
| International/Global<br> Equity<br>| American Funds<sup>®</sup> IS SMALLCAP World Fund<sup>®</sup> <br> (formerly American Funds<sup>®</sup> IS Global Small <br> Capitalization Fund) — Class 4<br>*Adviser: CRMC*<br>| 1.15% | 14.33% | 0.23% | 6.96% |
| Investment<br> Grade Bond<br>| American Funds<sup>®</sup> IS U.S. Government Securities <br> Fund<sup>®</sup> — Class 4<br>*Adviser: CRMC*<br>| 0.75% | 7.54% | (0.49)% | 1.45% |
| Large Cap Equity | American Funds<sup>®</sup> IS Washington Mutual <br> Investors Fund — Class 4<br>*Adviser: CRMC*<br>| 0.75% | 16.90% | 13.60% | 12.08% |
| Asset Allocation | BlackRock<sup>®</sup> Global Allocation V.I. Fund — Class <br> III<br>*Adviser: BlackRock Advisors, LLC ("BlackRock")* <br> */ Subadvisers: BlackRock (Singapore) Limited* <br> *and BlackRock International Limited*<br>| 1.01% | 19.42% | 5.51% | 7.33% |
| Non-Investment<br> Grade Bond<br>| BlackRock<sup>®</sup> High Yield V.I. Fund — Class III<br>*Adviser: BlackRock / Subadviser: BlackRock* <br> *International Limited*<br>| 0.78% | 9.09% | 4.57% | 6.07% |
| Large Cap Equity | BNY Mellon Sustainable U.S. Equity Portfolio — <br> Service Shares<br>*Adviser: BNY Mellon Investment Adviser, Inc. /* <br> *Subadviser: Newton Investment Management* <br> *Limited*<br>| 0.91% | 15.67% | 11.65% | 13.27% |
| Sector | Columbia Variable Portfolio — Commodity <br> Strategy Fund — Class 2<sup>++</sup> <br>*Adviser: Columbia Management Investment* <br> *Advisers, LLC ("Columbia") / Subadviser:* <br> *Threadneedle International Limited*<br>| 1.00% | 15.30% | 12.44% | 6.46% |
| Non-Investment<br> Grade Bond<br>| Columbia Variable Portfolio — Emerging <br> Markets Bond Fund — Class 2<br>*Adviser: Columbia*<br>| 1.00% | 12.65% | 1.47% | 4.03% |
| Investment Grade <br> Bond<br>| Columbia Variable Portfolio — Intermediate <br> Bond Fund — Class 2<br>*Adviser: Columbia*<br>| 0.77% | 8.84% | (0.68)% | 2.52%  |

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Appendix 2A-6

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Small/Mid Cap<br> Equity<br>| Columbia Variable Portfolio — Small Cap Value <br> Discovery Fund (formerly Columbia Variable <br> Portfolio — Small Cap Value Fund) — Class 2<br>*Adviser: Columbia*<br>| 1.13% | 14.66% | 12.19% | 11.20% |
| Small/Mid Cap <br> Equity<br>| Columbia Variable Portfolio — Small Company <br> Growth Fund — Class 2<br>*Adviser: Columbia*<br>| 1.12% | 21.69% | 3.32% | 14.89% |
| Alternatives | DWS Alternative Asset Allocation VIP — Class <br> B<br>*Adviser: DWS Investment Management* <br> *Americas Inc. / Subadviser: RREEF America* <br> *LLC*<br>| 1.31% | 10.03% | 4.88% | 4.52% |
| Investment<br> Grade Bond<br>| Fidelity<sup>®</sup> VIP Bond Index Portfolio — Service <br> Class 2<br>*Adviser: Fidelity Management & Research* <br> *Company LLC ("FMR") / Subadvisers: Other* <br> *investment advisers*<br>| 0.39% | 6.76% | (0.81)% | N/A |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Contrafund<sup>SM</sup> Portfolio — Service <br> Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.79% | 21.24% | 15.08% | 15.49% |
| International/Global<br> Equity<br>| Fidelity<sup>®</sup> VIP Emerging Markets Portfolio — <br> Service Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 1.12% | 40.79% | 5.62% | 10.66% |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> — <br> Service Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.71% | 18.75% | 12.13% | 11.32% |
| Small/Mid Cap<br> Equity<br>| Fidelity<sup>®</sup> VIP Extended Market Index Portfolio — <br> Service Class 2<br>*Adviser: FMR / Subadviser: Geode Capital* <br> *Management, LLC ("Geode")*<br>| 0.37% | 12.03% | 7.75% | N/A |
| Asset Allocation | Fidelity<sup>®</sup> VIP FundsManager<sup>®</sup> 60% Portfolio — <br> Service Class<br>*Adviser: FMR*<br>| 0.63% | 15.71% | 6.67% | 8.19%  |

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Appendix 2A-7

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Growth Opportunities Portfolio — <br> Service Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.81% | 21.73% | 11.04% | 19.64% |
| Sector | Fidelity<sup>®</sup> VIP Health Care Portfolio — Service <br> Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.84% | 14.10% | 3.92% | N/A |
| International/Global <br> Equity<br>| Fidelity<sup>®</sup> VIP International Capital Appreciation <br> Portfolio — Service Class 2<br>*Adviser: FMR / Subadvisers: FIL Investment* <br> *Advisors*<br>| 1.02% | 18.36% | 5.99% | 9.53% |
| International/Global<br> Equity<br>| Fidelity<sup>®</sup> VIP International Index Portfolio — <br> Service Class 2<br>*Adviser: FMR / Subadviser: Geode*<br>| 0.41% | 32.82% | 7.76% | N/A |
| Investment Grade <br> Bond<br>| Fidelity<sup>®</sup> VIP Investment Grade Bond <br> Portfolio — Service Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.62% | 6.93% | (0.21)% | 2.45% |
| Small/Mid Cap<br> Equity<br>| Fidelity<sup>®</sup> VIP Mid Cap Portfolio — Service Class <br> 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.80% | 11.49% | 9.83% | 10.31% |
| Sector | Franklin Gold and Precious Metals VIP Fund — <br> Class 2<br>*Adviser: Franklin Advisers, Inc. ("Franklin* <br> *Advisers")*<br>| 0.95% | N/A | N/A | N/A |
| Asset Allocation | Franklin Templeton Aggressive Model <br> Portfolio — Class II<br>*Adviser: Franklin Templeton Fund Adviser, LLC* <br> *("FTFA") / Subadviser: Franklin Advisers*<br>| 0.88% | 17.04% | 10.14% | N/A |
| Asset Allocation | Franklin Templeton Moderately Aggressive <br> Model Portfolio — Class II<br>*Adviser: FTFA / Subadviser: Franklin Advisers*<br>| 0.82% | 15.01% | 7.87% | N/A |
| Asset Allocation | Franklin Templeton Moderate Model Portfolio — <br> Class II<br>*Adviser: FTFA / Subadviser: Franklin Advisers*<br>| 0.82% | 13.18% | 6.49% | N/A  |

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Appendix 2A-8

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Asset Allocation | Franklin Templeton Moderately Conservative <br> Model Portfolio — Class II<br>*Adviser: FTFA / Subadviser: Franklin Advisers*<br>| 0.82% | 11.51% | 4.91% | N/A |
| Asset Allocation | Franklin Templeton Conservative Model <br> Portfolio — Class II<br>*Adviser: FTFA / Subadviser: Franklin Advisers*<br>| 0.85% | 9.04% | 2.65% | N/A |
| International/Global <br> Equity<br>| Goldman Sachs VIT International Equity Insights <br> Fund — Service Class<br>*Adviser: Goldman Sachs Asset Management,* <br> *L.P.*<br>| 1.05% | 5.80% | 5.19% | 4.61% |
| International/Global<br> Equity<br>| Invesco V.I. EQV International Equity Fund — <br> Series II Shares<br>*Adviser: Invesco Advisers, Inc. ("Invesco")*<br>| 1.15% | 16.23% | 3.42% | 5.95% |
| Small/Mid Cap<br> Equity<br>| Invesco V.I. Main Street Small Cap Fund<sup>®</sup> — <br> Series II Shares<br>*Adviser: Invesco*<br>| 1.09% | 8.44% | 8.07% | 10.31% |
| Small/Mid Cap<br> Equity<br>| Janus Henderson Enterprise Portfolio — Service <br> Shares<br>*Adviser: Janus Henderson*<br>| 0.97% | 7.41% | 7.35% | 12.51% |
| International/Global<br> Equity<br>| Janus Henderson Global Research Portfolio — <br> Service Shares<br>*Adviser: Janus Henderson*<br>| 1.07% | 20.60% | 12.23% | 12.64% |
| Investment Grade <br> Bond<br>| Lord Abbett Series Fund, Inc. — Short Duration <br> Income Portfolio — Class VC<br>*Adviser: Lord, Abbett & Co. LLC*<br>| 0.72% | 5.90% | 2.25% | 2.62% |
| Large Cap Equity | LVIP ClearBridge Appreciation Fund (formerly <br> ClearBridge Variable Appreciation Portfolio) — <br> Service Class<br>*Adviser: Lincoln Financial Investments* <br> *Corporation / Subadviser: ClearBridge* <br> *Investments, LLC*<br>| 0.95% | 14.19% | 12.44% | 13.05% |
| International Equity | MFS<sup>®</sup> International Intrinsic Equity Portfolio <br> (formerly MFS<sup>®</sup> International Intrinsic Value <br> Portfolio) — Service Class<br>*Adviser: MFS*<br>| 1.14% | 32.96% | 7.02% | 9.68%  |

---

Appendix 2A-9

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Mid Cap<br> Equity<br>| MFS<sup>®</sup> Mid Cap Value Portfolio — Service Class<br>*Adviser: MFS*<br>| 1.04% | 5.75% | 9.90% | 9.69% |
| International/Global<br> Equity<br>| MFS<sup>®</sup> Research International Portfolio — <br> Service Class<br>*Adviser: MFS*<br>| 1.15% | 21.75% | 5.25% | 7.27% |
| Small/Mid Cap<br> Equity<br>| Neuberger Berman AMT Mid Cap Growth <br> Portfolio — Class S<br>*Adviser: Neuberger Berman Investment* <br> *Advisers LLC*<br>| 1.11% | 5.23% | 4.27% | 10.71% |
| Small/Mid Cap <br> Equity<br>| Nomura VIP Small Cap Value Series (formerly <br> Macquarie VIP Small Cap Value Series) — <br> Service Class<br>*Adviser: Delaware Management Company, a* <br> *series of Nomura Investment Management* <br> *Business Trust*<br>| 1.04% | 7.83% | 8.93% | 8.84% |
| Investment<br> Grade Bond<br>| PIMCO VIT Income Portfolio — Advisor Class<br>*Adviser: PIMCO*<br>| 1.02% | 10.08% | 3.31% | N/A |
| Investment<br> Grade Bond<br>| PIMCO VIT International Bond Portfolio (U.S. <br> Dollar-Hedged) — Advisor Class<br>*Adviser: PIMCO*<br>| 1.19% | 3.85% | 0.93% | 2.78% |
| Investment<br> Grade Bond<br>| PIMCO VIT Low Duration Portfolio — Advisor <br> Class<br>*Adviser: PIMCO*<br>| 0.76% | 5.42% | 1.47% | 1.69% |
| Investment<br> Grade Bond<br>| PIMCO VIT Short-Term Portfolio — Advisor <br> Class<br>*Adviser: PIMCO*<br>| 0.75% | 4.57% | 3.14% | 2.65% |
| Investment<br> Grade Bond<br>| PIMCO VIT Total Return Portfolio — Advisor <br> Class<br>*Adviser: PIMCO*<br>| 0.83% | 8.78% | (0.08)% | 2.26% |
| Sector | Principal VC Real Estate Securities Account — <br> Class 2<br>*Adviser: Principal Global Investors, LLC /* <br> *Subadviser: Principal Real Estate Investors, LLC*<br>| 1.03% | 0.92% | 4.61% | 5.67%  |

---

Appendix 2A-10

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| International/Global<br> Equity<br>| Putnam VT International Value Fund — Class IB<br>*Adviser: Putnam Investment Management, LLC /* <br> *Subadvisers: Franklin Advisers, Inc., Franklin* <br> *Templeton Investment Management Limited and* <br> *The Putnam Advisory Company, LLC*<br>| 1.06% | 34.68% | 12.49% | 8.86% |
| Large Cap Equity | Voya Growth and Income Portfolio — Class S<br>*Adviser: Voya Investments, LLC ("Voya") /* <br> *Subadviser: Voya Investment Management Co.* <br> *LLC ("VIM")*<br>| 0.92% | 17.94% | 15.18% | 14.33% |
| Investment Grade <br> Bond<br>| Voya Intermediate Bond Portfolio — Class S<br>*Adviser: Voya / Subadviser: VIM*<br>| 0.80% | 7.46% | (0.09)% | 2.42% |
| Investment<br> Grade Bond<br>| Western Asset Core Plus VIT Portfolio — Class <br> II<sup>+++</sup> <br>*Adviser: FTFA / Subadvisers: Western Asset* <br> *Management Company, LLC; Western Asset* <br> *Management Company Limited; Western Asset* <br> *Management Company Ltd.; and Western Asset* <br> *Management Company Pte. Ltd.*<br>| 0.79% | 7.69% | (1.67)% | 1.85% |

---

\*

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 thereafter at the option of the Fund. Annual expenses for the Portfolio for the year ended December 31, 2025 reflect temporary fee reductions under such an arrangement.

<sup>+</sup>

Closed for policyowners who were not invested in the Investment Division on November 13, 2017, and closed for other policyowners if all your Accumulation Value is removed from the Investment Division on or after November 13, 2017.

<sup>++</sup>

Closed for policyowners who were not invested in the Investment Division on November 23, 2020, and closed for other policyowners if all your Accumulation Value is removed from the Investment Division on or after November 23, 2020.

<sup>+++</sup>

Closed for policyowners who were not invested in the Investment Division on May 1, 2026, and closed for other policyowners if all your Accumulation Value is removed from the Investment Division on or after May 1, 2026.

The following is a list of fixed options currently available under the policy. We may change the features of the fixed options listed below and offer new fixed options. We will provide you with written notice before doing so.

---

| | | |
|:---|:---|:---|
| **Name** | **Term** | **Guaranteed** <br> **Minimum Interest** <br> **Rate**<br>|
| **Fixed Account** | N/A | **0.05%** |
| **DCA Advantage** <br> **Account**<br>| 6 months | **0.05%** |

---

Appendix 2A-11

------

**Appendix 2b** 

***Allocation Options available with IPP and IPP II***

If you elect either the IPP (after February 15, 2010) or IPP II rider, then you will only be allowed to allocate your premium payments to certain Allocation Options and the DCA Advantage Account. You may not allocate more than 25% of your initial premium payment to the Fixed Account. **The Fixed Account is not available for policies issued in the State of New York. In addition, the Fixed Account is not available in the State of Washington if the IPP or IPP II rider is selected.** The allowable Allocation Options under IPP and IPP II are as follows:

Fixed Account\*

NYLIM VP Balanced — Service Class

NYLIM VP Bond — Service Class

NYLIM VP Conservative Allocation — Service Class

NYLIM VP Fidelity Institutional AM<sup>®</sup> Utilities — Service Class

NYLIM VP Floating Rate — Service Class

NYLIM VP Growth Allocation — Service Class

NYLIM VP Hedge Multi-Strategy — Service Class

NYLIM VP Income Builder — Service Class

NYLIM VP Janus Henderson Balanced — Initial Class

NYLIM VP Janus Henderson Balanced — Service Class

NYLIM VP MacKay Convertible — Service Class

NYLIM VP MacKay High Yield Corporate Bond — Service Class

NYLIM VP MacKay Strategic Bond — Service Class

NYLIM VP MacKay U.S. Infrastructure Bond — Service Class

NYLIM VP Moderate Allocation — Service Class

NYLIM VP PIMCO Real Return — Service Class

NYLIM VP U.S. Government Money Market — Initial Class

American Funds<sup>®</sup> IS Asset Allocation Fund — Class 4

American Funds<sup>®</sup> IS The Bond Fund of America<sup>®</sup> — Class 4

American Funds<sup>®</sup> IS Capital World Bond Fund<sup>®</sup> — Class 4

American Funds<sup>®</sup> IS U.S. Government Securities Fund<sup>®</sup> — Class 4

BlackRock<sup>®</sup> Global Allocation V.I. Fund — Class III

BlackRock<sup>®</sup> High Yield V.I. Fund — Class III

Columbia Variable Portfolio — Emerging Markets Bond Fund — Class 2

Columbia Variable Portfolio — Intermediate Bond Fund — Class 2

DWS Alternative Asset Allocation VIP — Class B

Fidelity<sup>®</sup> VIP Bond Index Portfolio — Service Class 2

Fidelity<sup>®</sup> VIP FundsManager<sup>®</sup> 60% Portfolio — Service Class

Fidelity<sup>®</sup> VIP Investment Grade Bond Portfolio — Service Class 2

Franklin Templeton Moderately Aggressive Model Portfolio — Class II

Franklin Templeton Moderate Model Portfolio — Class II

Franklin Templeton Moderately Conservative Model Portfolio — Class II

Franklin Templeton Conservative Model Portfolio — Class II

Lord Abbett Series Fund, Inc - Short Duration Income Portfolio — Class VC

PIMCO VIT Income Portfolio — Advisor Class

PIMCO VIT International Bond Portfolio (U.S. Dollar-Hedged) — Advisor Class

PIMCO VIT Low Duration Portfolio — Advisor Class

PIMCO VIT Short-Term Portfolio — Advisor Class

PIMCO VIT Total Return Portfolio — Advisor Class

Voya Intermediate Bond Portfolio — Class S

Western Asset Core Plus VIT Portfolio — Class II

\*

You may not allocate more than 25% of your initial premium payment to the Fixed Account. Not available in New York or Washington.

Appendix 2b-1

------

**Appendix 2c** 

***Investment Divisions, Model Portfolios and Asset Allocation Models available with GIPR and GIPR 2.0***

***Option 1 – Choose Your Own Investment Divisions*** 

---

| | | |
|:---|:---|:---|
| ***<u>Asset Allocation Categories:</u>*** |  |  |
| **<u>Category A:</u>** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 30<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 100<br> %<br>|  |
| **<u>Category A Funds</u>** |  |  |
| NYLIM VP Bond |  | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| NYLIM VP Floating Rate |  | Fidelity<sup>®</sup> VIP Investment Grade Bond Portfolio |
| NYLIM VP MacKay High Yield Corporate Bond |  | Lord Abbett Series Fund, Inc. - Short Duration Income Port. |
| NYLIM VP MacKay Strategic Bond |  | PIMCO VIT Income Portfolio |
| NYLIM VP MacKay U.S. Infrastructure Bond |  | PIMCO VIT International Bond Port. (U.S. Dollar-Hedged) |
| NYLIM VP PIMCO Real Return |  | PIMCO VIT Low Duration Portfolio |
| NYLIM VP U.S. Government Money Market |  | PIMCO VIT Short-Term Portfolio |
| American Funds<sup>®</sup> IS The Bond Fund of America<sup>®</sup> |  | PIMCO VIT Total Return Portfolio |
| American Funds<sup>®</sup> IS Capital World Bond Fund<sup>®</sup> |  | Voya Intermediate Bond Portfolio |
| American Funds<sup>®</sup> IS U.S. Government Securities Fund<sup>®</sup> |  | Western Asset Core Plus VIT Portfolio |
| BlackRock<sup>®</sup> High Yield V.I. Fund |  |  |
| Columbia Variable Portfolio — Emerging Markets Bond |  |  |
| Columbia Variable Portfolio — Intermediate Bond Fund |  |  |
| **<u>Category B:</u>** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 0<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 70<br> %<br>|  |
| **<u>Category B Funds</u>** |  |  |
| NYLIM VP American Century Large Cap Equity |  | American Funds<sup>®</sup> IS Asset Allocation Fund |
| NYLIM VP Balanced |  | American Funds<sup>®</sup> IS Growth Fund |
| NYLIM VP Conservative Allocation |  | American Funds<sup>®</sup> IS Growth-Income Fund |
| NYLIM VP Dimensional U.S. Equity |  | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| NYLIM VP Epoch U.S. Equity Yield |  | BlackRock<sup>®</sup> Global Allocation V.I. Fund |
| NYLIM VP Equity Allocation |  | BNY Mellon Sustainable U.S. Equity Portfolio |
| NYLIM VP Fidelity Institutional AM<sup>®</sup> Utilities |  | DWS Alternative Asset Allocation VIP |
| NYLIM VP Growth Allocation |  | Fidelity<sup>®</sup> VIP Contrafund<sup>SM</sup> Portfolio |
| NYLIM VP Hedge Multi-Strategy |  | Fidelity<sup>®</sup> VIP FundsManager<sup>®</sup> 60% Portfolio |
| NYLIM VP Income Builder |  | Fidelity<sup>®</sup> VIP Growth Opportunities Portfolio |
| NYLIM VP Janus Henderson Balanced |  | Franklin Templeton Moderately Aggressive Model Portfolio |
| NYLIM VP MacKay Convertible |  | Franklin Templeton Moderate Model Portfolio |
| NYLIM VP MFS<sup>®</sup> Investors Trust |  | Franklin Templeton Moderately Conservative Model Portfolio |
| NYLIM VP MFS<sup>®</sup> Research |  | Franklin Templeton Conservative Model Portfolio |
| NYLIM VP Moderate Allocation |  | LVIP ClearBridge Appreciation Fund |
| NYLIM VP S&P 500 Index |  | Voya Growth and Income Portfolio |
| NYLIM VP Wellington Growth |  |  |
| NYLIM VP Winslow Large Cap Growth |  |  |
| AB VPS Relative Value Portfolio |  |  |
| **<u>Category C:</u>** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 0<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 10<br> %<br>|  |

---

Appendix 2c-1

------

---

| | |
|:---|:---|
| **<u>Category C Funds</u>** |  |
| NYLIM VP Candriam Emerging Markets Equity<br> NYLIM VP CBRE Global Infrastructure<br> NYLIM VP Natural Resources<br> NYLIM VP Newton Technology Growth<br> NYLIM VP PineStone International Equity<br> NYLIM VP Schroders Mid Cap Opportunities<br> NYLIM VP Small Cap Growth<br> NYLIM VP Wellington Small Cap<br> American Funds<sup>®</sup> IS New World Fund<sup>®</sup><br> American Funds<sup>®</sup> IS SMALLCAP World Fund<sup>®</sup><br> Columbia Variable Portfolio — Commodity Strategy <br> Columbia Variable Portfolio — Small Cap Value Discovery<br> Columbia Variable Portfolio — Small Company Growth<br> Fidelity<sup>®</sup> VIP Emerging Markets Portfolio<br> Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>Fidelity<sup>®</sup> VIP Extended Market Index Portfolio<br>| &nbsp;&nbsp; Fidelity<sup>®</sup> VIP Health Care Portfolio<br> Fidelity<sup>®</sup> VIP International Capital Appreciation Portfolio<br> Fidelity<sup>®</sup> VIP International Index Portfolio<br> Fidelity<sup>®</sup> VIP Mid Cap Portfolio<br> Franklin Gold and Precious Metals VIP Fund<br> Goldman Sachs VIT International Equity Insights Fund<br> Invesco V.I. EQV International Equity Fund<br> Invesco V.I. Main Street Small Cap Fund<sup>®</sup><br> Janus Henderson Enterprise Portfolio<br> Janus Henderson Global Research Portfolio<br> MFS<sup>®</sup> International Intrinsic Equity Portfolio<br> MFS<sup>®</sup> Mid Cap Value Portfolio<br> MFS<sup>®</sup> Research International Portfolio<br> Neuberger Berman AMT Mid Cap Growth Portfolio<br> Nomura VIP Small Cap Value Series<br> Principal VC Real Estate Securities Account<br> Putnam VT International Value Fund<br>|

---

***Option 2 – Franklin Templeton Model Portfolios*** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Aggressive</u>** | **<u>Moderately Aggressive</u>** | **<u>Moderate</u>** | **<u>Moderate</u>** |
| 100% | Franklin Templeton Moderately Aggressive Model <br> Portfolio<br>| 100% | Franklin Templeton Moderate Model Portfolio |
| **<u>Moderately Conservative</u>** | **<u>Moderately Conservative</u>** | **<u>Conservative</u>** | **<u>Conservative</u>** |
| 100% | Franklin Templeton Moderately Conservative Model <br> Portfolio<br>| 100% | Franklin Templeton Conservative Model Portfolio |

---

***Option 3 – Asset Allocation Models (subject to availability)*** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Aggressive</u>** | **<u>Moderately Aggressive</u>** | **<u>Moderate</u>** | **<u>Moderate</u>** |
| 10% | NYLIM VP S&P 500 Index | 10% | NYLIM VP S&P 500 Index |
| 10% | DWS Alternative Asset Allocation VIP | 10% | DWS Alternative Asset Allocation VIP |
| 7% | PIMCO VIT Total Return Portfolio | 8% | NYLIM VP Bond |
| 7% | NYLIM VP MacKay High Yield Corporate Bond | 7% | PIMCO VIT Total Return Portfolio |
| 7% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund | 7% | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| 7% | NYLIM VP Schroders Mid Cap Opportunities | 7% | NYLIM VP MacKay High Yield Corporate Bond |
| 6% | NYLIM VP Bond | 6% | NYLIM VP MacKay U.S. Infrastructure Bond |
| 6% | NYLIM VP MFS<sup>®</sup> Investors Trust | 5% | NYLIM VP PIMCO Real Return |
| 5% | NYLIM VP PIMCO Real Return | 5% | Columbia Variable Portfolio — Emerging Markets Bond |
| 5% | Columbia Variable Portfolio — Emerging Markets Bond | 5% | NYLIM VP MFS<sup>®</sup> Investors Trust |
| 5% | NYLIM VP MFS<sup>®</sup> Research | 5% | NYLIM VP MFS<sup>®</sup> Research |
| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>|
| 5% | LVIP ClearBridge Appreciation Fund | 5% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| 5% | NYLIM VP PineStone International Equity | 5% | NYLIM VP Schroders Mid Cap Opportunities |
| 5% | American Funds<sup>®</sup> IS New World Fund<sup>®</sup> | 5% | American Funds<sup>®</sup> IS New World Fund<sup>®</sup> |
| 5% | MFS<sup>®</sup> International Intrinsic Equity Portfolio | 5% | MFS<sup>®</sup> International Intrinsic Equity Portfolio |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Conservative</u>** | **<u>Moderately Conservative</u>** | **<u>Conservative</u>** | **<u>Conservative</u>** |
| 10% | NYLIM VP Bond | 14% | PIMCO VIT International Bond Port (U.S. Dollar-Hedged) |
| 10% | PIMCO VIT Total Return Portfolio | 12% | NYLIM VP Bond |
| 10% | DWS Alternative Asset Allocation VIP | 11% | PIMCO VIT Total Return Portfolio |
| 9% | Fidelity<sup>®</sup> VIP Bond Index Portfolio | 10% | NYLIM VP MacKay U.S. Infrastructure Bond  |

---

Appendix 2c-2

------

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Conservative</u>** | **<u>Moderately Conservative</u>** | **<u>Conservative</u>** | **<u>Conservative</u>** |
| 8% | NYLIM VP MacKay U.S. Infrastructure Bond | 10% | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| 7% | NYLIM VP MacKay High Yield Corporate Bond | 10% | DWS Alternative Asset Allocation VIP |
| 6% | NYLIM VP PIMCO Real Return | 7% | NYLIM VP PIMCO Real Return |
| 5% | PIMCO VIT International Bond Port (U.S. Dollar-Hedged) | 7% | NYLIM VP MacKay High Yield Corporate Bond |
| 5% | Columbia Variable Portfolio — Emerging Markets Bond | 5% | Columbia Variable Portfolio — Emerging Markets Bond |
| 5% | NYLIM VP S&P 500 Index | 4% | BlackRock<sup>®</sup> High Yield V.I. Fund |
| 5% | NYLIM VP MFS<sup>®</sup> Investors Trust | 4% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| 5% | NYLIM VP MFS<sup>®</sup> Research | 3% | NYLIM VP MFS<sup>®</sup> Research |
| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> | 3% | NYLIM VP Schroders Mid Cap Opportunities |
| 5% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |  |  |
| 5% | NYLIM VP Schroders Mid Cap Opportunities |  |  |

---

Appendix 2c-3

------

**Appendix 3**

***State Variations*** 

---

| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
| California | &nbsp;&nbsp; Guaranteed Investment Protection Rider and <br> Guaranteed Investment Protection Rider 2.0<br>| &nbsp;&nbsp; An ownership change or assignment of the <br> policy does not terminate the Guaranteed <br> Investment Protection Rider or Guaranteed <br> Investment Protection Rider 2.0.<br>|
| Connecticut | &nbsp;&nbsp; Guaranteed Investment Protection Rider and <br> Guaranteed Investment Protection Rider 2.0<br>| &nbsp;&nbsp; (a) If you discontinue the rider we will not <br> charge a Rider Risk Charge Adjustment.(b) An <br> assignment of the policy does not terminate <br> the GIPR or GIPR 2.0.<br>|
|  | Premium Credit | &nbsp;&nbsp; We will not deduct from the death benefit <br> proceeds any Premium Credit applied with 12 <br> months immediately preceding the date of <br> death of the Owner or Annuitant<br>|
| Florida | &nbsp;&nbsp; NYLIAC's right to limit or refuse allocation of <br> Premium Payments to the Fixed Account.<br>| &nbsp;&nbsp; If the five–year Constant Maturity Treasury <br> Rate less 125 basis points is below three <br> percent (3%), NYLIAC may refuse the <br> allocation of all or a portion of Premium <br> Payments to the Fixed Account.<br>|
|  | &nbsp;&nbsp; Guaranteed Investment Protection Rider and <br> Guaranteed Investment Protection Rider 2.0<br>| &nbsp;&nbsp; An ownership change or assignment of the <br> policy does not terminate the Guaranteed <br> Investment Protection Rider or Guaranteed <br> Investment Protection Rider 2.0.<br>|
| Massachusetts | Annuity Commencement Date | &nbsp;&nbsp; Policies are issued with unisex annuitization <br> rates.<br>|
| Michigan | Annuity Commencement Date | &nbsp;&nbsp; Policies are issued with unisex annuitization <br> rates.<br>|
| Montana | Annuity Commencement Date | &nbsp;&nbsp; Policies are issued with unisex annuitization <br> rates.<br>|
|  | &nbsp;&nbsp; Interest on payment of death proceeds or <br> withdrawals<br>| &nbsp;&nbsp; If settlement payment or withdrawal payment <br> is not made within the first thirty (30) days, it <br> will include interest from the 30th day until the <br> day the payment is released. Interest will be <br> paid at the discount rate on 90–day <br> commercial paper in effect at the Federal <br> Reserve Bank in the Ninth Federal Reserve <br> District at the time the payment is requested.<br>|
| New Jersey | Definition of Nonforfeiture Value | &nbsp;&nbsp; **NONFORFEITURE VALUE** –The <br> Nonforfeiture Value is equal to 90% of the <br> Consideration(s) allocated to the Fixed <br> Account and/or to the DCA Advantage Account <br> accumulated at the Nonforfeiture Rate since <br> the Payment Date or transfer date, minus any <br> amounts withdrawn or transferred from the <br> Fixed Account and/or the DCA Advantage <br> Account, with the remaining amount <br> accumulated at the Nonforfeiture Rate since <br> the date of withdrawal or transfer. <br>|

---

Appendix 3-1

------

---

| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
|  | Annuity Commencement Date | &nbsp;&nbsp; The Annuitant's Age on the Annuity <br> Commencement Date may not be greater than <br> age 90.<br> If the Accumulation Value of the Policy is an <br> amount that would provide Income Payments <br> of less than $20 a month on the Annuity <br> Commencement Date, NYLIAC will change the <br> frequency of the payments to an annual mode.<br>|
|  | &nbsp;&nbsp; NYLIAC's right to limit or refuse allocation of <br> Premium Payments to the Fixed Account.<br>| &nbsp;&nbsp; If the five–year Constant Maturity Treasury <br> Rate less 125 basis points is below three <br> percent (3%), NYLIAC may refuse the <br> allocation of all or a portion of a Premium <br> Payment to the Fixed Account.<br>|
|  | Civil Union Partner Endorsement | &nbsp;&nbsp; Civil Union partners are permitted to continue <br> the policy under the spousal continuance <br> provisions with the following exceptions. If your <br> Civil Union Partner continues the policy after <br> your death, your Civil Union Partner will have <br> all rights of ownership. However, to comply <br> with the Internal Revenue Code and the <br> applicable Treasury Regulations, the entire <br> proceeds of the policy must be either be:<br>(a) disbursed within five years of the <br> original Owner's death; or<br>(b) placed under the Life Income – <br> Guaranteed Period Payment Option or <br> any other Income Payment option that is <br> available at that time, provided that <br> such payments are made over the life of <br> the Civil Union Partner or over a number <br> of years that is not more than the life <br> expectancy of the Civil Union Partner <br> (as determined for federal tax purposes) <br> at the time of the original Owner's <br> death, and begin within one year after <br> the original Owner's death.<br>|
|  | Living Needs Benefit/Unemployment Rider | &nbsp;&nbsp; The name of the Living Needs <br> Benefit/Unemployment Rider is "Living Needs <br> Benefit Rider" and the Unemployment portion <br> of the rider is not available. Also, the Terminal <br> Illness Qualifying Event does not have to occur <br> after the Policy Date.<br>|
|  | &nbsp;&nbsp; Annual Death Benefit Reset (ADBR) Rider <br> (optional)<br>| &nbsp;&nbsp; The ADBR is not available with the EBB. Also, <br> the total death benefit under the policy cannot <br> exceed the greater of:<br>(a) 200% of the Adjusted Death Benefit <br> Premium Payment(s), or<br>(b) the Accumulation Value plus 50% of the <br> gain <br>|

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Appendix 3-2

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| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
| New York | Definition of Nonforfeiture Value | &nbsp;&nbsp; Nonforfeiture Value – The Nonforfeiture Value <br> is equal to 100% of the Premium Payment(s) <br> allocated to the DCA Advantage Account <br> accumulated at the crediting rate (which shall <br> be no less than the Guaranteed Minimum <br> Interest Rate) since the Payment Date, minus <br> any amounts withdrawn or transferred from the <br> DCA Advantage Account, with the remaining <br> amount accumulated at the crediting rate since <br> the date of withdrawal or transfer.<br>|
|  | Fixed Account | &nbsp;&nbsp; The Fixed Account is not available in New <br> York.<br>|
|  | &nbsp;&nbsp; Payment of interest on deferred death benefit <br> payments<br>| &nbsp;&nbsp; Death benefit payments deferred for more than <br> seven (7) days from the date of receipt of all <br> required information will receive interest <br> accrued daily at the rate currently paid by us <br> on proceeds left under the interest settlement <br> alternative.<br>|
|  | Optional Benefit Expenses | &nbsp;&nbsp; Any rider charges applicable to the policy may <br> not be deducted from the DCA Advantage <br> Account.<br>|
|  | &nbsp;&nbsp; Annual Death Benefit Reset (ADBR) Rider <br> Charge<br>| &nbsp;&nbsp; The ADBR rider charge will be deducted from <br> each Investment Division in proportion to its <br> percentage of the Variable Account Value of <br> the applicable quarter and will not reduce your <br> Adjusted Premium Payments.<br>|
|  | &nbsp;&nbsp; Investment Protection Plan Rider (optional), <br> Investment Protection Plan II Rider (optional), <br> Guaranteed Investment Protection Rider <br> (optional) and Guaranteed Investment <br> Protection Rider 2.0 (optional)<br>| &nbsp;&nbsp; (a) GIPR 2.0: While a policy is in force we may <br> not suspend or discontinue your right to reset <br> the guaranteed amount. (b) GIPR 2.0: If you <br> discontinue the rider we will not charge a Rider <br> Risk Charge Adjustment.(c) GIPR and GIPR <br> 2.0: An ownership change or assignment of <br> the policy does not terminate the rider.(d) The <br> policy does not have a fixed account; therefore, <br> the fixed account is not an investment <br> option.(e) The GIPR 2.0 death benefit for the <br> 20–year holding period is equal to the sum of <br> all Premium Payments made in the first Policy <br> Year, less any GIPR Proportional Withdrawals; <br> however, if you have exercised the Rider Reset <br> option, it is equal to the Policy's Accumulation <br> Value on the most recent Rider Reset effective <br> date, less any GIPR Proportional Withdrawals <br> made following the Rider Reset effective date.<br>|
|  | &nbsp;&nbsp; Charge for Investment Protection Plan Rider, <br> Charge for Investment Protection Plan II Rider, <br> Charge for Guaranteed Investment Protection <br> Rider and Charge for Guaranteed Investment <br> Protection Rider 2.0<br>| &nbsp;&nbsp; The IPP, IPP II, GIPR and GIPR 2.0 charge will <br> be deducted from each Investment Division <br> based on the funds in each rider Allocation <br> Option each policy quarter. Charges are not <br> deducted from the accumulation value in the <br> DCA Advantage Account. <br>|

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Appendix 3-3

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| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
|  | Definition of Adjusted Premium Payment | &nbsp;&nbsp; The definition of Adjusted Premium Payment – <br> is the total dollar amount of premium <br> payments made under the policy and allocated <br> to the Investment Divisions of the Separate <br> Account reduced by any withdrawals and <br> applicable surrender charges in excess of any <br> gain in the policy.<br>|
|  | Delay of Payments | &nbsp;&nbsp; We will pay interest on payments of any partial <br> withdrawal or full surrender request from the <br> DCA Advantage Account deferred for ten (10) <br> business days or more. If payments are <br> deferred, we will pay interest at the rate <br> currently paid on proceeds left under the <br> interest settlement alternative, from the date <br> we receive your written request at our <br> Executive Office or service office. The interest <br> will be added to and be part of the total sum <br> paid.<br>|
|  | Our Right to Cancel | &nbsp;&nbsp; If we do not receive premium payments for a <br> period of three years, and the Accumulation <br> Value of your policy would provide Income <br> Payments of less than $20 per month on the <br> Annuity Commencement Date, we reserve the <br> right to terminate your policy.<br>|
|  | Premium Credit | &nbsp;&nbsp; (a) You may qualify for the 4% Premium Credit <br> Rate even if your initial premium payment is <br> less than $500,000, if at the time you purchase <br> a New York Life Premier Plus Variable Annuity <br> policy, you also purchased additional policies <br> for this same product at the same time and the <br> aggregate initial premium paid on all the <br> policies is at least $1 million. To aggregate <br> premiums, you must, before purchasing the <br> policy, inform your registered representative <br> that you have policies that can be <br> aggregated.(b) We will not deduct from the <br> death benefit proceeds payable from the DCA <br> Advantage Account any Premium Credit <br> applied within 12 months immediately <br> preceding the date of death of the Owner or <br> Annuitant.<br>|
| Oregon | Annuity Commencement Date | &nbsp;&nbsp; On the Annuity Commencement Date, if you <br> elect to have the Accumulation Value paid to <br> you in a single sum, a Surrender Charge may <br> also apply if the Annuity Commencement Date <br> you elect occurs before the earlier of (a) the <br> end of the surrender charge period applicable <br> to your initial Premium Payment, or (b) the end <br> of the 10th Policy Year. <br>|

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Appendix 3-4

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| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
|  | Base Contract Charges | &nbsp;&nbsp; M&E charges based on the adjusted premium <br> payment cannot be based on premium in the <br> DCA Advantage Account.<br>|
|  | Definition of Adjusted Premium Payment | &nbsp;&nbsp; Adjusted Premium Payment — The total <br> Premium Payment(s) allocated to the <br> Investment Divisions of the Separate Account <br> reduced by withdrawals and applicable <br> surrender charges in excess of any gain in the <br> Policy.<br>|
|  | &nbsp;&nbsp; NYLIAC's right to limit or refuse allocation of <br> Premium Payments to the Fixed Account or <br> the DCA Advantage Account<br>| &nbsp;&nbsp; If the five–year Constant Maturity Treasury <br> Rate minus 125 basis points is less than the <br> Nonforfeiture Rate shown on the Policy Data <br> Page, NYLIAC may refuse the allocation of all <br> or a portion of a Premium Payment to the <br> Fixed Account or the DCA Advantage Account<br>|
|  | Investment Protection Plan Rider | &nbsp;&nbsp; If you discontinue the Investment Protection <br> Plan rider, we will not charge a Rider Risk <br> Charge Adjustment. The name of the <br> Investment Protection Plan rider is <br> "Accumulation Value Protection Plan."<br>|
| Texas | Annuity Commencement Date | &nbsp;&nbsp; The maximum Annuity Commencement Date <br> allowed for the policy is age 115.<br>|
| Washington | Annuity Commencement Date | &nbsp;&nbsp; The maximum Annuity Commencement Date <br> allowed for the policy is age 100.<br>|
|  | &nbsp;&nbsp; Investment Protection Plan Rider, Investment <br> Protection Plan II Rider, Guaranteed <br> Investment Protection Rider and Guaranteed <br> Investment Protection Rider 2.0<br>| &nbsp;&nbsp; IPP with fund restrictions, IPP II, GIPR and <br> GIPR 2.0: The Fixed Account is not available <br> with these riders. Also, though the rider charge <br> may be based on funds in the DCA Advantage <br> Account, the charge may not be deducted from <br> the DCA Advantage Account. The rider charge <br> may only be deducted from the applicable <br> investment divisions.<br>|
|  | &nbsp;&nbsp; Rider Risk Charge Adjustment for IPP, IPP II, <br> GIPR and GIPR 2.0<br>| &nbsp;&nbsp; For the IPP with fund restrictions, IPP II, GIPR <br> and GIPR 2.0: The Rider Risk Charge <br> Adjustment will not be deducted from the DCA <br> Advantage Account.<br>|

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Appendix 3-5

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**Back Cover Page** 

The Statement of Additional Information (SAI) dated May 1, 2026 contains more information about the policies and the Separate Accounts. The SAI has been filed with the SEC and is incorporated by reference into this Summary Prospectus. The SAI is posted on our website, https://dfinview.com/NewYorkLife/TAHD/premierplus. For a free paper copy of the SAI, to request other information about the policies, and to make investor inquiries call us at (800) 598-2019 or write to us at NYLIAC Variable Product Service Center, Madison Square Station, P.O. Box 922, New York, NY 10159.

Reports and other information about the Separate Accounts are available on the SEC's website at https://www.sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

Separate Account III EDGAR contract identifier #C000074526

Separate Account IV EDGAR contract identifier #C000074528

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**Statement of Additional Information** 

**May 1, 2026**

**for** 

**New York Life Premier Plus Variable Annuity** 

**From** 

**New York Life Insurance and Annuity Corporation**

**(a Delaware Corporation)** 

**51 Madison Avenue, New York, New York 10010** 

**Investing in** 

**NYLIAC Variable Annuity Separate Account-III**

**NYLIAC Variable Annuity Separate Account-IV** 

This Statement of Additional Information ("SAI") is not a prospectus. This SAI contains information that expands upon subjects discussed in the current New York Life Premier Plus Variable Annuity Prospectus. You should read the SAI in conjunction with the current New York Life Premier Plus Variable Annuity Prospectus dated May 1, 2026. You may obtain a copy of the Prospectus by calling New York Life Insurance and Annuity Corporation ("NYLIAC") at (800) 598-2019 or writing to NYLIAC at Madison Square Station, P.O. Box 922, New York, NY 10159. Terms used but not defined in this SAI have the same meaning as in the current New York Life Premier Plus Variable Annuity Prospectus.

**[**Table of Contents**](#xx_587a0d71-f339-46a9-8620-493050a56337_TOC_0)** 

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| | |
|:---|:---|
| **[General Information and History](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_1)** | &nbsp;&nbsp; 2 |
| [New York Life Insurance and Annuity Corporation](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_1) | &nbsp;&nbsp; 2 |
| [The Separate Account](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_1) | &nbsp;&nbsp; 2 |
| **[The Policies](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_1)** | &nbsp;&nbsp; 2 |
| **[Additional information about risks (Non-Principal Risks)](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_2)** | &nbsp;&nbsp; 3 |
| **[Annuity Payments (The Income Phase)](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_2)** | &nbsp;&nbsp; 3 |
| **[General Matters](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_3)** | &nbsp;&nbsp; 4 |
| **[Federal Tax Matters](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_3)** | &nbsp;&nbsp; 4 |
| [Taxation of New York Life Insurance and Annuity Corporation](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_3) | &nbsp;&nbsp; 4 |
| [Tax Status of the Policies](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_3) | &nbsp;&nbsp; 4 |
| **[Safekeeping Of Separate Account Assets](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_4)** | &nbsp;&nbsp; 5 |
| **[State Regulation](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_4)** | &nbsp;&nbsp; 5 |
| **[Records and Reports](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_5)** | &nbsp;&nbsp; 6 |
| **[Financial Statements](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_5)** | &nbsp;&nbsp; 6 |
| **[Other Information](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_5)** | &nbsp;&nbsp; 6 |
| **[Appendix](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_6)[1](#xx_8960f553-b7a4-4461-8218-8ae11227c44a_6)** | &nbsp;&nbsp; 1<br>|

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**General Information and History**

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***New York Life Insurance and Annuity Corporation*** 

New York Life Insurance and Annuity Corporation ("NYLIAC") is a stock life insurance company incorporated in Delaware in 1980. NYLIAC is licensed to sell life, accident and health insurance and annuities in the District of Columbia and all states. In addition to the policies described in this SAI, NYLIAC offers life insurance policies and other annuities.

NYLIAC is a wholly-owned subsidiary of New York Life Insurance Company, a mutual life insurance company doing business in New York since 1845. NYLIAC held assets of $223.5 billion at the end of 2025. New York Life Insurance Company has invested in NYLIAC, and will occasionally make additional contributions to NYLIAC in order to maintain capital and surplus in accordance with state requirements.

***The Separate Account*** 

Separate Account-III was established on November 30, 1994 and Separate Account-IV was established on June 10, 2003, pursuant to resolutions of the NYLIAC Board of Directors. The Separate Accounts are registered as unit investment trusts with the Securities and Exchange Commission under the Investment Company Act of 1940. This registration does not signify that the Securities and Exchange Commission supervises the management, or the investment practices or policies, of the Separate Accounts. Although the assets of the Separate Accounts belong to NYLIAC, these assets are held separately from our other assets. The Separate Accounts' assets are not chargeable with liabilities incurred in any of NYLIAC's other business operations (except to the extent that assets in the Separate Accounts exceed the reserves and other liabilities of that Separate Account). The income, capital gains and capital losses incurred on the assets of the Separate Accounts are credited to or charged against the assets of the Separate Accounts without regard to the income, capital gains or capital losses arising out of any other business NYLIAC may conduct. Therefore, the investment performance of the Separate Accounts is entirely independent of the investment performance of the Fixed Account, the DCA Advantage Account and any other separate account of NYLIAC.

**The Policies**

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The following provides additional information about the policies and supplements the description in the Prospectus.

*Valuation of Accumulation Units*

Accumulation Units are valued separately for each Investment Division of the Separate Account. The method used for valuing Accumulation Units in each Investment Division is the same. We arbitrarily set the value of each Accumulation Unit as of the date operations began for the Investment Division. Thereafter, the value of an Accumulation Unit of an Investment Division for any Business Day equals the value of an Accumulation Unit in that Investment Division as of the immediately preceding Business Day multiplied by the "Net Investment Factor" for that Investment Division for the current Business Day.

We determine the Net Investment Factor for Accumulation Value Based M&E Charge (Separate Account-III) policies for each Investment Division for any period from the close of the preceding Business Day to the close of the current Business Day (the "Valuation Period") by the following formula:

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| | | | |
|:---|:---|:---|:---|
| (a/b) – c | (a/b) – c | (a/b) – c | (a/b) – c |
| Where:<br> a | = | the result of: | the result of: |
|  |  | (1) | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined <br> at the end of the current Valuation Period, plus<br>|
|  |  | (2) | the per share amount of any dividend or capital gain distribution made by the Eligible Portfolio for <br> shares held in the Investment Division if the "ex-dividend" date occurs during the current Valuation <br> Period;<br>|
| b | = | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined as <br> of the end of the immediately preceding Valuation Period; and | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined as <br> of the end of the immediately preceding Valuation Period; and |
| c | = | the daily Mortality and Expense Risk and Administrative Costs charge, which is 1/365th\* of the annual <br> Mortality and Expense Risk and Administrative Costs Charge shown on the Policy Data Page. | the daily Mortality and Expense Risk and Administrative Costs charge, which is 1/365th\* of the annual <br> Mortality and Expense Risk and Administrative Costs Charge shown on the Policy Data Page. |
| \* |  | In a leap year, this calculation is based on 366 days. | In a leap year, this calculation is based on 366 days. |

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In each case, the Net Investment Factor for Premium Based M&E Charge (Separate Account-IV) policies is determined by the following formula:

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| | | | |
|:---|:---|:---|:---|
| (a/b) | (a/b) | (a/b) | (a/b) |
| Where:<br> a | = | the result of: | the result of: |
|  |  | (1) | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined <br> at the end of the current Valuation Period, plus<br>|
|  |  | (2) | the per share amount of any dividend or capital gain distribution made by the Eligible Portfolio for <br> shares held in the Investment Division if the "ex-dividend" date occurs during the current Valuation <br> Period;<br>|
| b | = | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined as <br> of the end of the immediately preceding Valuation Period. | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined as <br> of the end of the immediately preceding Valuation Period. |

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In each case, the Net Investment Factor may be greater or less than one. Therefore, the value of an Accumulation Unit in an Investment Division may increase or decrease from Valuation Period to Valuation Period.

**Additional information about risks (Non-Principal Risks)**

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***Geopolitical Risks*** 

Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues like pandemics or epidemics, natural disasters, recessions, and other events, could have a serious negative impact on, among other things, the performance, liquidity and valuation of investments in the Portfolios you choose. In light of these developments, your premium and Accumulation Value allocation choices should be consistent with your personal investment objective and your risk tolerance. In addition, governmental authorities have imposed prohibitions on transactions in investments in certain foreign sectors—for example, prohibitions imposed by the U.S. government on investment in companies in the Communist Chinese defense and related material sectors and surveillance technology sectors. If Eligible Portfolios do not comply with such prohibitions, it is possible that we could not allow contract owners to make any new investment in those Portfolios (by premium allocation or transfer), and we could even require that contract owners move any Cash Value out of the affected Eligible Portfolio(s). You should consult each Fund's prospectus, statement of additional information, and annual and semi-annual reports for more information on these geopolitical risks and potential investment restrictions.

**Annuity Payments (The Income Phase)**

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Unless you instruct us otherwise, we will make equal annuity payments each month under the Life Income Payment Option during the lifetime of the Annuitant. Once payments begin, they do not change and are guaranteed for 10 years even if the Annuitant dies sooner. If the Annuitant dies before all guaranteed payments have been made, the rest will be made to the Beneficiary. We may require that the payee submit proof of the Annuitant's survivorship as a condition for future payments beyond the 10-year guaranteed payment period.

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On the Annuity Commencement Date, we will determine the Accumulation Value of your policy and use that value to calculate the amount of each annuity payment. We determine each annuity payment by applying the Accumulation Value, less any premium taxes, to the annuity factors specified in the annuity table set forth in the policy. Those factors are based on a set amount per $1,000 of proceeds applied. The appropriate rate must be determined by the gender (except where, as in the case of certain Qualified Policies and other employer-sponsored retirement plans, such classification is not permitted), date of application and age of the Annuitant. The dollars applied are then divided by 1,000 and the result multiplied by the appropriate annuity factor from the table to compute the amount of each monthly annuity payment.

**General Matters**

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***Non-Participating.*** The policies are non-participating. Dividends are not paid.

***Misstatement of Age or Gender.*** If the Annuitant's stated age and/or gender in the policy are incorrect, NYLIAC will change the benefits payable to those which the premium payments would have purchased for the correct age and gender. Gender is not a factor when annuity benefits are based on unisex annuity payment rate tables. (See "Income Payments—Election of Income Payment Options" in the Prospectus.) If we made payments based on incorrect age or gender, we will increase or reduce a later payment or payments to adjust for the error. Any adjustment will include interest, at 1.0% per year, from the date of the wrong payment to the date the adjustment is made.

***Assignments.*** If permitted by the plan or by law for the plan indicated in the application for the policy, you may assign your interest in a Non-Qualified Policy or any interest in it prior to the Annuity Commencement Date and during the Owner's lifetime. In order to effect an assignment of all or any part of your interest in a Non-Qualified Policy prior to the Annuity Commencement Date and during the Owner's lifetime, you must send a duly executed instrument of assignment to the NYLIAC Variable Products Service Center at one of the addresses listed in the "CONTACTING NYLIAC" section of the Prospectus. NYLIAC will not be deemed to know of an assignment unless it receives a copy of a duly executed instrument evidencing such assignment in Good Order. Further, NYLIAC assumes no responsibility for the validity of any assignment. (See "Federal Tax Matters—Taxation of Annuities in General" of the Prospectus.)

***Modification.*** NYLIAC may not modify the policy without your consent except to make the policy meet the requirements of the Investment Company Act of 1940, or to make the policy comply with any changes in the Code or as required by the Code in order to continue treatment of the policy as an annuity, or by any other applicable law.

***Incontestability.*** We rely on statements made in the application or a Policy Request. They are representations, not warranties. We will not contest the policy after it has been in force during the lifetime of the Annuitant for two years from the Policy Date.

**Federal Tax Matters**

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***Taxation of New York Life Insurance and Annuity Corporation***

NYLIAC is taxed as a life insurance company. Because the Separate Account is not an entity separate from NYLIAC, and its operations form a part of NYLIAC, it will not be taxed separately as a "regulated investment company" under Subchapter M of the Code. 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. Investment income and realized net capital gains on the assets of the Separate Account are reinvested and are taken into account in determining the Accumulation Value. As a result, such investment income and realized net capital gains are automatically retained as part of the reserves under the policy. 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.

***Tax Status of the Policies***

Section 817(h) of the Code requires that the investments of the Separate Account must be "adequately diversified" in accordance with Treasury regulations in order for the policies to qualify as annuity contracts under Section 72 of the Code. The Separate Account intends to comply with the diversification requirements prescribed by the Treasury under Treasury Regulation Section 1.817-5.

To comply with regulations under Section 817(h) of the Code, the Separate Account is required to diversify its investments, so that on the last day of each quarter of a calendar year, no more than 55% of the value of its assets is

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represented by any one investment, no more than 70% is represented by any two investments, no more than 80% is represented by any three investments, and no more than 90% is represented by any four investments. For this purpose, securities of a single issuer are treated as one investment and each U.S. Government agency or instrumentality is treated as a separate issuer. Any security issued, guaranteed, or insured (to the extent so guaranteed or insured) by the U.S. Government or an agency or instrumentality of the U.S. Government is treated as a security issued by the U.S. Government or its agency or instrumentality, whichever is applicable.

Although the Treasury Department has issued regulations on the diversification requirements, such regulations do not provide guidance concerning the extent to which policyowners may direct their investments to particular subaccounts of a separate account, or the permitted number of such subaccounts. It is unclear whether additional guidance in this regard will be issued in the future. It is possible that if such guidance is issued, the policy may need to be modified to comply with such additional guidance. For these reasons, NYLIAC reserves the right to modify the policy as necessary to attempt to prevent the policyowner from being considered the owner of the assets of the Separate Account or otherwise to qualify the policy for favorable tax treatment.

The Code also requires that non-qualified annuity contracts contain specific provisions for distribution of the policy proceeds upon the death of any policyowner. In order to be treated as an annuity contract for federal income tax purposes, the Code requires that such policies provide that (a) if any policyowner dies on or after the Annuity Commencement Date and before the entire interest in the policy has been distributed, the remaining portion must be distributed at least as rapidly as under the method in effect on the policyowner's death; and (b) if any policyowner dies before the Annuity Commencement Date, the entire interest in the policy must generally be distributed within 5 years after the policyowner's date of death. For policies owned by a grantor trust, these distribution requirements apply at the death of any Annuitant. These requirements will be considered satisfied if the entire interest of the policy is used to purchase an immediate annuity under which payments will begin within one year of the policyowner's death and will be made for the life of the Beneficiary or for a period not extending beyond the life expectancy of the Beneficiary. If the Beneficiary is the policyowner's surviving spouse (as defined under Federal law), the Policy may be continued with the surviving spouse as the new policyowner. If the policyowner is not a natural person, these "death of Owner" rules apply when the primary Annuitant dies or is changed. Non-Qualified Policies contain provisions intended to comply with these requirements of the Code. No regulations interpreting these requirements of the Code have yet been issued and thus no assurance can be given that the provisions contained in these policies satisfy all such Code requirements. The provisions contained in these policies will be reviewed and modified if necessary to assure that they comply with the Code requirements when clarified by regulation or otherwise.

Withholding of federal income taxes on the taxable portion of all distributions may be required unless the recipient elects not to have any such amounts withheld and properly notifies NYLIAC of that election. Different rules may apply to United States citizens or expatriates living abroad. In addition, some states have enacted legislation requiring withholding.

Even if a recipient elects no withholding, special rules may require NYLIAC to disregard the recipient's election if the recipient fails to supply NYLIAC with a "TIN" or taxpayer identification number (social security number for individuals) or if the Internal Revenue Service notifies NYLIAC that the TIN provided by the recipient is incorrect.

Under the Foreign Account Tax Compliance Act ("FATCA"), as reflected in Sections 1471 through 1474 of the IRC, 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 percent rate on certain payments beginning July 1, 2014.

**Safekeeping Of Separate Account Assets**

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NYLIAC holds title to assets of the Separate Accounts. The assets are kept physically segregated and held separate and apart from NYLIAC's general corporate assets. Records are maintained of all purchases and redemptions of Portfolio shares held by each of the Investment Divisions.

**State Regulation**

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NYLIAC is a stock life insurance company organized under the laws of Delaware, and is subject to regulation by the Delaware State Insurance Department. We file an annual statement with the Delaware Commissioner of Insurance on or before March 1 of each year covering the operations and reporting on the financial condition of NYLIAC as of

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December 31 of the preceding calendar year. Periodically, the Delaware Commissioner of Insurance examines the financial condition of NYLIAC, including the liabilities and reserves of the Separate Account.

In addition, NYLIAC is subject to the insurance laws and regulations of all the states where it is licensed to operate. The availability of certain policy rights and provisions depends on state approval and/or filing and review processes. Where required by state law or regulation, the policies will be modified accordingly.

**Records and Reports**

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NYLIAC maintains all records and accounts relating to the Separate Account. If you believe a transaction has been processed incorrectly, it is your responsibility to contact us in writing and provide us with all relevant details. You must provide us with the nature of the error, the date of the error and any other relevant details. It is important that you review your confirmation and quarterly statements carefully and promptly report any errors and discrepancies to us, preferably, within fifteen (15) days of the date of the statement in question.

It is important that you inform NYLIAC of an address change so that you can receive these policy statements (See the "CONTACTING NYLIAC" section of the Prospectus). In the event your statement is returned from the U.S. Postal Service as undeliverable, we reserve the right to suspend mailing future correspondence and also suspend current transaction processing until an accurate address is obtained. Additionally, no new service requests can be processed until a valid current address is provided.

**Financial Statements**

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The statutory financial statements of NYLIAC as of December 31, 2025 and 2024, and for each of the three years in the period ended December 31, 2025 incorporated in this SAI by reference to the report on Form N-VPFS dated April 7, 2026 have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting. The financial statements of each of the investment divisions of the Separate Account as of December 31, 2025 and for each of the periods indicated in the Financial Statements incorporated in this SAI by reference to the report on Form N-VPFS dated April 7, 2026 have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

<u>For Policies investing in NYLIAC Variable Annuity Separate Account—III:</u> 

[<u>Audited Statutory Financial Statements of NYLIAC as of December 31,</u> <u>2025 and</u> <u>2024 and</u> <u>for each of the three years</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)[<u>in the period ended December 31,</u> <u>2025</u> <u>— previously filed on Form N-VPFS for NYLIAC Variable Annuity Separate</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)[<u>Account—III (File No.</u> <u>811-0890</u><u>4), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)

[<u>Financial Statements of the Separate Account as of December 31,</u> <u>2025</u> <u>and for each of the periods as indicated in</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)[<u>those Financial Statements — previously filed on Form N-VPFS for NYLIAC Variable Annuity Separate Account—III (File</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)[<u>No.</u> <u>811-0890</u><u>4), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)

<u>For Policies investing in NYLIAC Variable Annuity Separate Account—IV:</u> 

[<u>Audited Statutory Financial Statements of NYLIAC as of December 31,</u> <u>2025 and</u> <u>2024 and</u> <u>for each of the three years</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)[<u>in the period ended December 31,</u> <u>2025</u> <u>— previously filed on Form N-VPFS for NYLIAC Variable Annuity Separate</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)[<u>Account—IV (File No.</u> <u>811-2139</u><u>7), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)

[<u>Financial Statements of the Separate Account as of December 31,</u> <u>2025</u> <u>and for each of the periods as indicated in</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)[<u>those Financial Statements — previously filed on Form N-VPFS for NYLIAC Variable Annuity Separate Account—IV (File</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)[<u>No.</u> <u>811-2139</u><u>7), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)

**Other Information**

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NYLIAC filed a Registration Statement with the Securities and Exchange Commission, under the Securities Act of 1933 as amended, with respect to the policies discussed in the Prospectus and this SAI. We have not included all of the information set forth in the registration statement, amendments and exhibits to the registration statement in the Prospectus and this SAI. For more information, you should refer to the instruments filed with the Securities and Exchange Commission. The omitted information may be obtained at the principal offices of the Securities and Exchange Commission in Washington, D.C., upon payment of prescribed fees, or through the Commission's website at www.sec.gov.

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**Appendix 1** 

**INFORMATION REGARDING SINGLE PREMIUM POLICIES**

**Dated May 1, 2026** 

NYLIAC offers an individual single premium version of the policy in some states. This Appendix modifies the May 1, 2026 Statement of Additional Information ("SAI") for the policies that describe the single premium version of the Policies.

When reading this Appendix together with the SAI, keep in mind that only one premium payment is permitted under the single premium policies and only one Premium Credit and/or Breakpoint Credit (if applicable) will be credited to such premium payment. Exceptions to this rule apply only in cases where part of your purchase payment is funded from another source, such as a 1035 exchange, rollover, or transfer from an institution. In such cases, we may receive parts of your purchase payment on different Business Days.

Accordingly, except in the circumstances described above, all references throughout the SAI to premium payments in the plural (and any Premium Credits and Breakpoint Credits (if applicable) thereon) should be read to mean the singular. Naturally, any features or services that relate to multiple premium payments are not applicable to the single premium policy.

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**RATE SHEET PROSPECTUS SUPPLEMENT DATED MAY 1, 2026**

**TO THE PROSPECTUS DATED MAY 1, 2026 FOR** 

**New York Life Premier Plus Variable Annuity II** 

**INVESTING IN THE FOLLOWING SEPARATE ACCOUNTS** 

**NYLIAC Variable Annuity Separate Account–III** 

**NYLIAC Variable Annuity Separate Account–IV** 

This Rate Sheet Prospectus Supplement is to be used in connection with the prospectus ("Prospectus,") for the variable annuity policies listed above that are issued by New York Life Insurance and Annuity Corporation ("NYLIAC"). You should read this information carefully and retain this supplement for future reference together with the Prospectus for your policy. This supplement is not valid unless it is read in conjunction with the Prospectus for your policy. All capitalized terms used but not defined in this supplement have the same meaning as those included in the Prospectus.

This Rate Sheet Prospectus Supplement updates the Ongoing Fees and Expenses (annual charges) for the policy provided in the "IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE POLICY" section of the Prospectus taking into account the current fees for the Investment Preservation Rider 5.0 ("IPR 5.0") disclosed in this Rate Sheet Prospectus Supplement. This Rate Sheet Prospectus Supplement also provides the:

&nbsp;&nbsp;&nbsp;&nbsp;(1) Current charges for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the IPR 5.0 for policies with an application signed on or after May 1, 2023 and resets under such policies of the IPR 5.0 with a Rider Reset Effective Date on or after May 1, 2023; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Investment Preservation Rider ("IPR"), Investment Preservation Rider 2.0 ("IPR 2.0"), Investment Preservation Rider 3.0 ("IPR 3.0"), and Investment Preservation Rider 4.0 ("IPR 4.0") with a Rider Reset Effective Date on or after May 1, 2019.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Percentages applicable for determining the Guaranteed Amounts under the IPR 5.0 for policies with an application signed on or after February 10, 2025 (the "IPR Guarantee Percentage").

(3)

Holding Periods currently available with the IPR 5.0 for policies with an application signed on or after May 1, 2023.

It is important that you have the most recent Rate Sheet Prospectus Supplement as of the date you apply for a policy. In the event we publish a new Rate Sheet Prospectus Supplement after the date your application is signed but before we issue your policy, the charges and applicable IPR Guarantee Percentages will be those in the Rate Sheet Prospectus Supplement in effect on the date of your signed application.

It is also important that you have the most current Rate Sheet Prospectus Supplement if you elect to reset your IPR Guaranteed Amount. In the event we publish a new Rate Sheet Prospectus Supplement after the date you send in your written request to reset your IPR but before the Rider Reset Effective Date, we will apply the charge in effect on the Rider Reset Effective Date. Please be advised that the charges you pay for the IPR after you elect to reset may be different than the charges you paid prior to the Rider Reset Effective Date and could be more or less than the current charge reflected in this Rate Sheet Supplement; provided, however, that such charges will never exceed the guaranteed maximum charge set forth in the "FEE TABLE" in the Prospectus. If you are not satisfied with the new charges you pay for the IPR after you elect to reset, you may cancel the reset at any time prior to or within thirty (30) days after the Rider Reset Effective Date with no penalty.

**This Rate Sheet Prospectus Supplement has no specified end date and can be superseded at any time. If we supersede this Rate Sheet Prospectus Supplement with a new Rate Sheet Prospectus Supplement, the new Rate Sheet Prospectus Supplement will be filed a minimum of 10 business days prior to the effective date of the new rates.** You can obtain the most current Rate Sheet Prospectus Supplement online at https://dfinview.com/NewYorkLife/TAHD/premierplus-ii. You can also obtain this information at no cost by calling our Variable Products Service Center at 1-800-598-2019. This Rate Sheet Prospectus Supplement and the Prospectus can also be found on the U.S. Securities and Exchange Commission's website (www.sec.gov) by searching File No. 333-156018 and No. 333-156019.

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**IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE POLICY** 

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| | | |
|:---|:---|:---|
| **Ongoing Fees** <br> **and Expenses** <br> **(annual charges)**<br>| The table below describes the fees and expenses that you may pay <br> each year, depending on the options you choose. Please refer to your <br> Policy Data Page for information about the specific fees you will pay <br> each year based on the options you have elected.<br>| **CHARGES AND** <br> **DEDUCTIONS –** <br> **Annual Policy** <br> **Expenses; Annual** <br> **Portfolio Expenses;** <br> **Optional Benefit** <br> **Expenses**<br>|

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

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| | | | |
|:---|:---|:---|:---|
| **ANNUAL FEE** | **MINIMUM** | **MAXIMUM** |  |
| Base contract<sup>1</sup> <br>| 1.30% | 1.70% | **CHARGES AND** <br> **DEDUCTIONS –** <br> **Annual Policy** <br> **Expenses**<br>|
| Portfolio fees and expenses<sup>2</sup> <br>| 0.37% | 1.45% | **CHARGES AND** <br> **DEDUCTIONS –** <br> **Annual Portfolio** <br> **Expenses**<br>|
| Optional benefits available for an <br> additional charge (for a single <br> optional benefit, if elected)<sup>3</sup> <br>| 0.25% | 0.95% | **CHARGES AND** <br> **DEDUCTIONS –** <br> **Optional Benefit** <br> **Expenses**<br>|
| <sup>1</sup> As a percentage of Accumulation Value after the Surrender Charge <br> Period for the initial premium (Minimum Base Contract Charge) and as <br> a percentage of Premium Payment during the Surrender Charge Period <br> for the initial premium (Maximum Base Contract Charge, plus a <br> percentage attributable to the Annual Policy Service Charge).<br> <sup>2</sup> As a percentage of average net Portfolio assets. The range in fees <br> and expenses is for the year ended December 31, 2025 and will <br> change from year to year.<br> <sup>3</sup> The minimum fee reflects the current charge for the Annual Death <br> Benefit Rider, as an annualized percentage of the amount guaranteed <br> under the rider. The maximum fee reflects the current charge for the <br> Investment Preservation Rider or Investment Preservation Rider 2.0 <br> (12-year holding period), as an annualized percentage of the amount <br> that is guaranteed under the rider. | <sup>1</sup> As a percentage of Accumulation Value after the Surrender Charge <br> Period for the initial premium (Minimum Base Contract Charge) and as <br> a percentage of Premium Payment during the Surrender Charge Period <br> for the initial premium (Maximum Base Contract Charge, plus a <br> percentage attributable to the Annual Policy Service Charge).<br> <sup>2</sup> As a percentage of average net Portfolio assets. The range in fees <br> and expenses is for the year ended December 31, 2025 and will <br> change from year to year.<br> <sup>3</sup> The minimum fee reflects the current charge for the Annual Death <br> Benefit Rider, as an annualized percentage of the amount guaranteed <br> under the rider. The maximum fee reflects the current charge for the <br> Investment Preservation Rider or Investment Preservation Rider 2.0 <br> (12-year holding period), as an annualized percentage of the amount <br> that is guaranteed under the rider. | <sup>1</sup> As a percentage of Accumulation Value after the Surrender Charge <br> Period for the initial premium (Minimum Base Contract Charge) and as <br> a percentage of Premium Payment during the Surrender Charge Period <br> for the initial premium (Maximum Base Contract Charge, plus a <br> percentage attributable to the Annual Policy Service Charge).<br> <sup>2</sup> As a percentage of average net Portfolio assets. The range in fees <br> and expenses is for the year ended December 31, 2025 and will <br> change from year to year.<br> <sup>3</sup> The minimum fee reflects the current charge for the Annual Death <br> Benefit Rider, as an annualized percentage of the amount guaranteed <br> under the rider. The maximum fee reflects the current charge for the <br> Investment Preservation Rider or Investment Preservation Rider 2.0 <br> (12-year holding period), as an annualized percentage of the amount <br> that is guaranteed under the rider. |  |

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| | |
|:---|:---|
| Because your policy is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your <br> policy, the following table shows the lowest and highest cost you could <br> pay each year, based on current charges. This estimate assumes that <br> you do not take withdrawals from the policy, which could add surrender <br> charges that substantially increase costs. | Because your policy is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your <br> policy, the following table shows the lowest and highest cost you could <br> pay each year, based on current charges. This estimate assumes that <br> you do not take withdrawals from the policy, which could add surrender <br> charges that substantially increase costs. |
| **LOWEST ANNUAL COST**<br>$1,552.08 | **HIGHEST ANNUAL COST**<br>$3,474.71 |

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| | |
|:---|:---|
| Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Least expensive combination of <br> Base Contract Charges and <br> Portfolio fees and expenses<br>•No optional benefits<br> •No sales charges<br> •No additional purchase <br> payments, transfers or <br> Withdrawals<br>| Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Most expensive combination of <br> Base Contract Charges, <br> optional benefits, and Portfolio <br> fees and expenses<br>•No sales charges<br> •No additional purchase <br> payments, transfers or <br> withdrawals |

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**ANNUAL CHARGES FOR THE IPR 5.0** 

**The current charge for the IPR 5.0 for policies with an application signed on or after May 1, 2023 is as follows:** 

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| | |
|:---|:---|
| **Annual Charge for IPR 5.0**<br> (calculated as an annualized percentage of the amount that is guaranteed under the IPR 5.0, <br> deducted on a quarterly basis)<br>| **Current**<br> **Charge**<br>|
| 12 Year Holding Period | 0.70% |
| 13 Year Holding Period | 0.60% |
| 14 Year Holding Period | 0.55% |
| 15 Year Holding Period | 0.50% |
| 20 Year Holding Period | 0.60% |

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**IPR GUARANTEE PERCENTAGES** 

**The IPR Guarantee Percentages currently applicable for determining the Guaranteed Amount under IPR 5.0 for policies with an application signed on or after February 10, 2025 are:** 

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| | |
|:---|:---|
| **Holding Period** | **Percentage** |
| 12 Year Holding Period | 120% |
| 13 Year Holding Period | 120% |
| 14 Year Holding Period | 130% |
| 15 Year Holding Period | 130% |
| 20 Year Holding Period | 150% |

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**ANNUAL CHARGES FOR IPR RESET ELECTIONS** 

**The current charge for IPR, IPR 2.0, IPR 3.0, and IPR 4.0 Reset elections with a Rider Reset Effective Date on or after May 1, 2019:** 

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| | |
|:---|:---|
| **Annual Charge for IPR if you elect an IPR Reset (Policies applied for between May 1,** <br> **2015 and April 30, 2016)**<br> (calculated as an annualized percentage of the amount that is guaranteed under the IPR, <br> deducted on a quarterly basis)<br>| **Current**<br> **Charge**<br>|
| 12 Year Holding Period | 0.70% |
| 13 Year Holding Period | 0.60% |
| 14 Year Holding Period | 0.55% |
| 15 Year Holding Period | 0.45% |
| 20 Year Holding Period | 0.55% |

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

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| | |
|:---|:---|
| **Annual Charge for IPR if you elect an IPR Reset (Policies applied for between May 1,** <br> **2016 and April 30, 2017)**<br> (calculated as an annualized percentage of the amount that is guaranteed under the IPR, <br> deducted on a quarterly basis)<br>| **Current**<br> **Charge**<br>|
| 12 Year Holding Period | 0.70% |
| 13 Year Holding Period | 0.60% |
| 14 Year Holding Period | 0.55% |
| 15 Year Holding Period | 0.50% |
| 20 Year Holding Period | 0.60% |

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

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| | |
|:---|:---|
| **Annual Charge for IPR 2.0 if you elect an IPR 2.0 Reset**<br> (calculated as an annualized percentage of the amount that is guaranteed under the IPR 2.0, <br> deducted on a quarterly basis)<br>| **Current**<br> **Charge**<br>|
| 12 Year Holding Period | 0.70% |
| 13 Year Holding Period | 0.60% |
| 14 Year Holding Period | 0.55% |
| 15 Year Holding Period | 0.50% |
| 20 Year Holding Period | 0.60% |

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

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| | |
|:---|:---|
| **Annual Charge IPR 3.0 if you elect an IPR 3.0 Reset**<br> (calculated as an annualized percentage of the amount that is guaranteed under the IPR 3.0, <br> deducted on a quarterly basis)<br>| **Current**<br> **Charge**<br>|
| 12 Year Holding Period | 0.70% |
| 13 Year Holding Period | 0.60% |
| 14 Year Holding Period | 0.55% |
| 15 Year Holding Period | 0.50% |
| 20 Year Holding Period | 0.60% |

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

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| | |
|:---|:---|
| **Annual Charge IPR 4.0 if you elect an IPR 4.0 Reset**<br> (calculated as an annualized percentage of the amount that is guaranteed under the IPR 4.0, <br> deducted on a quarterly basis)<br>| **Current**<br> **Charge**<br>|
| 12 Year Holding Period | 0.70% |
| 13 Year Holding Period | 0.60% |
| 14 Year Holding Period | 0.55% |
| 15 Year Holding Period | 0.50% |
| 20 Year Holding Period | 0.60% |

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**The current charge for IPR 5.0 Reset elections with a Rider Reset Effective Date on or after May 1, 2023:** 

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| | |
|:---|:---|
| **Annual Charge IPR 5.0 if you elect an IPR 5.0 Reset**<br> (calculated as an annualized percentage of the amount that is guaranteed under the IPR 5.0, <br> deducted on a quarterly basis)<br>| **Current**<br> **Charge**<br>|
| 12 Year Holding Period | 0.70% |
| 13 Year Holding Period | 0.60% |
| 14 Year Holding Period | 0.55% |
| 15 Year Holding Period | 0.50% |
| 20 Year Holding Period | 0.60% |

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**The current charge for the IPR portion (Policies applied for between May 1, 2015 and April 30, 2016) of the IPR + ADBR Package for IPR Reset elections with a Rider Reset Effective Date on or after May 1, 2019:** 

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| | | |
|:---|:---|:---|
| **IPR + ADBR Package** | **IPR + ADBR Package** | **Current Charge**<br> **for the IPR**<br> **portion of the**<br> **IPR + ADBR**<br> **Package**<br>|
| **Annual Charge**<br>(calculated as the sum of (1) the Investment Preservation Rider <br> Charge, calculated as an annualized percentage of the amount <br> guaranteed under the Investment Preservation Rider; and <br> (2) the Annual Death Benefit Reset Rider Charge, calculated as <br> an annualized percentage of the ADBR Reset Value as of the <br> last Policy Anniversary (or as of the Policy Date if within the first <br> Policy Year), and deducted quarterly). | 12 Year Holding Period | 0.65% |
| **Annual Charge**<br>(calculated as the sum of (1) the Investment Preservation Rider <br> Charge, calculated as an annualized percentage of the amount <br> guaranteed under the Investment Preservation Rider; and <br> (2) the Annual Death Benefit Reset Rider Charge, calculated as <br> an annualized percentage of the ADBR Reset Value as of the <br> last Policy Anniversary (or as of the Policy Date if within the first <br> Policy Year), and deducted quarterly). | 13 Year Holding Period | 0.55% |
| **Annual Charge**<br>(calculated as the sum of (1) the Investment Preservation Rider <br> Charge, calculated as an annualized percentage of the amount <br> guaranteed under the Investment Preservation Rider; and <br> (2) the Annual Death Benefit Reset Rider Charge, calculated as <br> an annualized percentage of the ADBR Reset Value as of the <br> last Policy Anniversary (or as of the Policy Date if within the first <br> Policy Year), and deducted quarterly). | 14 Year Holding Period | 0.50% |
| **Annual Charge**<br>(calculated as the sum of (1) the Investment Preservation Rider <br> Charge, calculated as an annualized percentage of the amount <br> guaranteed under the Investment Preservation Rider; and <br> (2) the Annual Death Benefit Reset Rider Charge, calculated as <br> an annualized percentage of the ADBR Reset Value as of the <br> last Policy Anniversary (or as of the Policy Date if within the first <br> Policy Year), and deducted quarterly). | 15 Year Holding Period | 0.40% |
| **Annual Charge**<br>(calculated as the sum of (1) the Investment Preservation Rider <br> Charge, calculated as an annualized percentage of the amount <br> guaranteed under the Investment Preservation Rider; and <br> (2) the Annual Death Benefit Reset Rider Charge, calculated as <br> an annualized percentage of the ADBR Reset Value as of the <br> last Policy Anniversary (or as of the Policy Date if within the first <br> Policy Year), and deducted quarterly). | 20 Year Holding Period | 0.50% |

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**PROSPECTUS Dated May 1, 2026** 

**for** 

**New York Life Premier Plus Variable Annuity II** 

**From** 

**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**(a Delaware Corporation)**

**51 Madison Avenue, New York, New York 10010**

**Investing in** 

**NYLIAC Variable Annuity Separate Account–III** 

**NYLIAC Variable Annuity Separate Account–IV** 

This Prospectus describes the individual flexible premium New York Life Premier Plus Variable Annuity II policies issued by New York Life Insurance and Annuity Corporation (NYLIAC). We designed these policies to assist individuals with their long-term retirement planning or other long-term needs. The policies offer flexible premium payments, access to your money through partial withdrawals (some withdrawals may be subject to a surrender charge, federal and state income taxes and/or a 10% federal penalty tax if withdrawn before age 59½), a choice of when Income Payments commence, and a guaranteed death benefit if the Owner dies before Income Payments have commenced. NYLIAC's obligations under the policies are subject to its financial strength and claims-paying ability. Please note that your policy may vary depending on your state. Any material variations are disclosed in the prospectus or in APPENDIX 3–State Variations.

If you are a new investor in the policy, you may cancel your policy within 10 days of delivery of the policy without paying fees or penalties. In some states, this cancellation period may be longer. Upon cancellation, you will receive either (i) a full refund of the amount you paid with your application, or (ii) your policy value (Accumulation Value), less any e-delivery credit and less any Premium Credit(s). You should review this Prospectus, or consult with your registered representative, for additional information about the specific cancellation terms that apply.

We use a Rate Sheet Prospectus Supplement to describe the current charges and guaranteed amount percentages for certain optional benefits. This Prospectus must be accompanied by the applicable Rate Sheet Prospectus Supplement.

**The Securities and Exchange Commission (SEC) has not approved or disapproved these securities or passed upon the adequacy or accuracy of this Prospectus. Any representation to the contrary is a criminal offense.** 

**The policies are complex investments and involve risks, including potential loss of principal invested. The policies are not short-term investments and are not appropriate for investors who plan or need ready access to withdrawals as some withdrawals could result in surrender charges, taxes and tax penalties, as applicable. The policies are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not federally insured by the FDIC, the Federal Reserve Board, or any other agency.** 

Additional information about certain investment products, including variable annuities, has been prepared by the SEC's staff and is available at www.Investor.gov.

Your premium payments accumulate on a tax-deferred basis. This means your earnings are not taxed until you take money out of your policy, which can be done in several ways. You can invest your premium payments among a Fixed Account, the Dollar Cost Averaging Advantage Account, and up to 18 separate Investment Divisions. Each Investment Division invests exclusively in the shares of a specified corresponding portfolio ("Portfolio"). The Portfolios and the fixed options are listed in **APPENDIX 1A**.

**We do not guarantee the investment performance of the Investment Divisions. Depending on current market conditions, you can make or lose money in any of the Investment Divisions. Credits under the contract may be recaptured upon Free Look, annuitization, and death.**

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**Table of Contents** 

---

| | |
|:---|:---|
|  | **Page** |
| **[Definitions](#xx_032d0b55-28a6-4b59-9bae-57341bdd3f19_1)** | &nbsp;&nbsp; 1 |
| **[Overview Of The Policy](#xx_92e459a7-1a09-4fb4-ab61-6760b11d1714_1)** | &nbsp;&nbsp; 5 |
| **[Important Information You Should Consider](#xx_64c2f291-eb1a-40d0-9fd3-04fb78d0467a_1)**<br> **[About The Policy](#xx_64c2f291-eb1a-40d0-9fd3-04fb78d0467a_1)**<br>| &nbsp;&nbsp; 8 |
| **[Fee Table](#xx_6be8211a-597d-4b7f-93fd-7336db09bb29_1)** | &nbsp;&nbsp; 13 |
| **[Principal Risks of Investing in the Policy](#xx_5ab10ab9-c91c-4ed9-b0f3-dfc790d67ad8_1)** | &nbsp;&nbsp; 20 |
| **[Contacting NYLIAC](#xx_5ab10ab9-c91c-4ed9-b0f3-dfc790d67ad8_3)** | &nbsp;&nbsp; 22 |
| **[NYLIAC And The Separate Accounts](#xx_5ab10ab9-c91c-4ed9-b0f3-dfc790d67ad8_4)** | &nbsp;&nbsp; 23 |
| [New York Life Insurance and Annuity](#xx_5ab10ab9-c91c-4ed9-b0f3-dfc790d67ad8_4)<br> [Corporation](#xx_5ab10ab9-c91c-4ed9-b0f3-dfc790d67ad8_4)<br>| &nbsp;&nbsp; 23 |
| [The Separate Accounts](#xx_5ab10ab9-c91c-4ed9-b0f3-dfc790d67ad8_4) | &nbsp;&nbsp; 23 |
| [The Portfolios](#xx_5ab10ab9-c91c-4ed9-b0f3-dfc790d67ad8_5) | &nbsp;&nbsp; 24 |
| [Additions, Deletions, or Substitutions of](#xx_5ab10ab9-c91c-4ed9-b0f3-dfc790d67ad8_9)<br> [Investments](#xx_5ab10ab9-c91c-4ed9-b0f3-dfc790d67ad8_9)<br>| &nbsp;&nbsp; 28 |
| [Reinvestment](#xx_5ab10ab9-c91c-4ed9-b0f3-dfc790d67ad8_9) | &nbsp;&nbsp; 28 |
| **[The Policies](#xx_00805992-3289-4336-b4a6-1b00c208582b_1)** | &nbsp;&nbsp; 29 |
| [Selecting the Variable Annuity That's Right for](#xx_00805992-3289-4336-b4a6-1b00c208582b_1)<br> [You](#xx_00805992-3289-4336-b4a6-1b00c208582b_1)<br>| &nbsp;&nbsp; 29 |
| [Qualified and Non-Qualified Policies](#xx_00805992-3289-4336-b4a6-1b00c208582b_2) | &nbsp;&nbsp; 30 |
| [Policy Application and Premium Payments](#xx_00805992-3289-4336-b4a6-1b00c208582b_3) | &nbsp;&nbsp; 31 |
| [Accumulation (Savings) Phase](#xx_00805992-3289-4336-b4a6-1b00c208582b_4) | &nbsp;&nbsp; 32 |
| [Crediting of Premium Payments](#xx_00805992-3289-4336-b4a6-1b00c208582b_4) | &nbsp;&nbsp; 32 |
| [Valuation of Accumulation Units](#xx_00805992-3289-4336-b4a6-1b00c208582b_4) | &nbsp;&nbsp; 32 |
| [Tax-Free Section 1035 Exchanges](#xx_00805992-3289-4336-b4a6-1b00c208582b_4) | &nbsp;&nbsp; 32 |
| [Premium Credit](#xx_00805992-3289-4336-b4a6-1b00c208582b_5) | &nbsp;&nbsp; 33 |
| [Your Right to Cancel ("Free Look")](#xx_00805992-3289-4336-b4a6-1b00c208582b_6) | &nbsp;&nbsp; 34 |
| [Issue Ages](#xx_00805992-3289-4336-b4a6-1b00c208582b_6) | &nbsp;&nbsp; 34 |
| [Transfers](#xx_00805992-3289-4336-b4a6-1b00c208582b_7) | &nbsp;&nbsp; 35 |
| [Limits on Transfers](#xx_00805992-3289-4336-b4a6-1b00c208582b_7) | &nbsp;&nbsp; 35 |
| [Speculative Investing](#xx_00805992-3289-4336-b4a6-1b00c208582b_9) | &nbsp;&nbsp; 37 |
| [Online Service at www.newyorklife.com and](#xx_00805992-3289-4336-b4a6-1b00c208582b_9)<br> [through the New York Life Mobile](#xx_00805992-3289-4336-b4a6-1b00c208582b_9)<br> [Application](#xx_00805992-3289-4336-b4a6-1b00c208582b_9)<br>| &nbsp;&nbsp; 37 |
| [Telephone Transactions](#xx_00805992-3289-4336-b4a6-1b00c208582b_10) | &nbsp;&nbsp; 38 |
| [Third Party and Registered Representative](#xx_00805992-3289-4336-b4a6-1b00c208582b_10)<br> [Actions](#xx_00805992-3289-4336-b4a6-1b00c208582b_10)<br>| &nbsp;&nbsp; 38 |
| [Electronic Delivery](#xx_00805992-3289-4336-b4a6-1b00c208582b_11) | &nbsp;&nbsp; 39 |
| **[Records and Reports](#xx_00805992-3289-4336-b4a6-1b00c208582b_12)** | &nbsp;&nbsp; 40 |
| [Designation of Beneficiary](#xx_00805992-3289-4336-b4a6-1b00c208582b_12) | &nbsp;&nbsp; 40 |
| [Delay of Payments](#xx_00805992-3289-4336-b4a6-1b00c208582b_13) | &nbsp;&nbsp; 41 |
| **[Benefits Available Under The Policies](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_1)** | &nbsp;&nbsp; 42 |
| **[Description of Benefits](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_7)** | &nbsp;&nbsp; 48 |
| [The Standard Death Benefit – Death Before](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_7)<br> [Annuity Commencement](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_7)<br>| &nbsp;&nbsp; 48 |

---

---

| | |
|:---|:---|
|  | **Page** |
| [Annual Death Benefit Reset Rider](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_9) | &nbsp;&nbsp; 50 |
| [Investment Preservation Rider (IPR)](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_11) | &nbsp;&nbsp; 52 |
| [IPR Death Benefit](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_14) | &nbsp;&nbsp; 55 |
| [Investment Preservation Rider 2.0 (IPR 2.0)](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_14) | &nbsp;&nbsp; 55 |
| [IPR 2.0 Death Benefit](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_18) | &nbsp;&nbsp; 59 |
| [Investment Preservation Rider 3.0 (IPR 3.0)](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_19) | &nbsp;&nbsp; 60 |
| [IPR 3.0 Death Benefit](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_23) | &nbsp;&nbsp; 64 |
| [Investment Preservation Rider 4.0 (IPR 4.0)](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_24) | &nbsp;&nbsp; 65 |
| [IPR 4.0 Death Benefit](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_28) | &nbsp;&nbsp; 69 |
| [Investment Preservation Rider 5.0 (IPR 5.0)](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_29) | &nbsp;&nbsp; 70 |
| [IPR 5.0 Death Benefit](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_34) | &nbsp;&nbsp; 75 |
| [Living Needs Benefit/Unemployment Rider](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_38) | &nbsp;&nbsp; 79 |
| [The Future Income Rider](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_39) | &nbsp;&nbsp; 80 |
| [Automatic Asset Rebalancing](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_42) | &nbsp;&nbsp; 83 |
| [Dollar Cost Averaging Programs](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_43) | &nbsp;&nbsp; 84 |
| [Traditional Dollar Cost Averaging (not](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_44)<br> [available with the investment preservation](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_44)<br> [riders)](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_44)<br>| &nbsp;&nbsp; 85 |
| [The DCA Advantage Account](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_44) | &nbsp;&nbsp; 85 |
| [Interest Sweep](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_45) | &nbsp;&nbsp; 86 |
| [Rate Sheet Prospectus Supplement for the IPR](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_46)<br> [Riders](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_46)<br>| &nbsp;&nbsp; 87 |
| **[Charges And Deductions](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_46)** | &nbsp;&nbsp; 87 |
| [Transaction Expenses](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_46) | &nbsp;&nbsp; 87 |
| [Surrender Charges](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_46) | &nbsp;&nbsp; 87 |
| [Amount of Surrender Charge](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_47) | &nbsp;&nbsp; 88 |
| [Exceptions to Surrender Charges](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_47) | &nbsp;&nbsp; 88 |
| [Transfer Fees](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_48) | &nbsp;&nbsp; 89 |
| [Payments Returned for Insufficient Funds](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_48) | &nbsp;&nbsp; 89 |
| [Rider Risk Charge Adjustment for IPR, IPR](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_48)<br> [2.0, IPR 3.0, IPR 4.0 or IPR 5.0](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_48)<br> [(Cancellation Charge)](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_48)<br>| &nbsp;&nbsp; 89 |
| [Annual Policy Expenses](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_49) | &nbsp;&nbsp; 90 |
| [Base Contract Charges (M&E Charge)](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_49) | &nbsp;&nbsp; 90 |
| [Administrative Expense – Policy Service](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_50)<br> [Charge](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_50)<br>| &nbsp;&nbsp; 91 |
| [Optional Benefit Expenses](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_50) | &nbsp;&nbsp; 91 |
| [Charge for the Investment Preservation](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_50)<br> [Rider, Investment Preservation Rider 2.0,](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_50)<br> [Investment Preservation Rider 3.0,](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_50)<br> [Investment Preservation Rider 4.0 and](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_50)<br> [Investment Preservation Rider 5.0](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_50)<br>| &nbsp;&nbsp; 91 |
| [Annual Death Benefit Reset (ADBR) Rider](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_51)<br> [Charge](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_51)<br>| &nbsp;&nbsp; 92<br>|

---

i

------

---

| | |
|:---|:---|
|  | **Page** |
| [Investment Preservation Rider/Annual Death](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_51)<br> [Benefit Reset Rider Package Charge](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_51)<br> [(available only with policies applied for](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_51)<br> [before May 1, 2016)](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_51)<br>| &nbsp;&nbsp; 92 |
| [Annual Portfolio Expenses](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_51) | &nbsp;&nbsp; 92 |
| [Group and Sponsored Arrangements](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_51) | &nbsp;&nbsp; 92 |
| [Taxes](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_52) | &nbsp;&nbsp; 93 |
| **[Distributions Under The Policy](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_52)** | &nbsp;&nbsp; 93 |
| [Surrenders and Withdrawals](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_52) | &nbsp;&nbsp; 93 |
| [Surrenders](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_53) | &nbsp;&nbsp; 94 |
| [Partial Withdrawals](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_53) | &nbsp;&nbsp; 94 |
| [Periodic Partial Withdrawals](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_54) | &nbsp;&nbsp; 95 |
| [Hardship Withdrawals](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_54) | &nbsp;&nbsp; 95 |
| [Required Minimum Distributions](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_54) | &nbsp;&nbsp; 95 |
| [Our Right to Cancel](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_54) | &nbsp;&nbsp; 95 |
| [Restrictions Under Code Section 403(b)(11)](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_55) | &nbsp;&nbsp; 96 |
| [Loans](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_55) | &nbsp;&nbsp; 96 |
| **[Annuity Payments (The Income Phase)](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_57)** | &nbsp;&nbsp; 98 |
| [Annuity Commencement Date](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_57) | &nbsp;&nbsp; 98 |
| [Income Payments](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_57) | &nbsp;&nbsp; 98 |
| [Election of Income Payment Options](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_57) | &nbsp;&nbsp; 98 |
| [Proof of Survivorship](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_58) | &nbsp;&nbsp; 99 |
| **[The Fixed Account](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_58)** | &nbsp;&nbsp; 99 |
| [Interest Crediting](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_58) | &nbsp;&nbsp; 99 |
| [Transfers Between the Fixed Account and](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_58)<br> [Investment Divisions or an Asset](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_58)<br> [Allocation Model](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_58)<br>| &nbsp;&nbsp; 99 |
| **[The DCA Advantage Account](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_59)** | &nbsp;&nbsp; 100 |
| **[Federal Tax Matters](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_60)** | &nbsp;&nbsp; 101 |
| [Introduction](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_60) | &nbsp;&nbsp; 101 |
| [Taxation of Annuities in General](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_60) | &nbsp;&nbsp; 101 |
| [3.8 Percent Tax on Certain Investment Income](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_62) | &nbsp;&nbsp; 103 |
| [Partial Section 1035 Exchanges](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_62) | &nbsp;&nbsp; 103 |
| [Inherited Non–Qualified Policies](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_62) | &nbsp;&nbsp; 103 |
| [Qualified Policies](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_63) | &nbsp;&nbsp; 104 |

---

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| | |
|:---|:---|
|  | **Page** |
| [(a) 403(b) Plans.](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_63) | &nbsp;&nbsp; 104 |
| [(b) Individual Retirement Annuities.](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_64) | &nbsp;&nbsp; 105 |
| [(c) Roth Individual Retirement Annuities.](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_64) | &nbsp;&nbsp; 105 |
| [(d) Inherited Roth IRAs.](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_64) | &nbsp;&nbsp; 105 |
| [(e) Inherited IRAs.](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_64) | &nbsp;&nbsp; 105 |
| [(f) SIMPLE IRAs.](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_65) | &nbsp;&nbsp; 106 |
| [Taxation of Death Benefits](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_65) | &nbsp;&nbsp; 106 |
| **[Distribution and Compensation](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_66)**<br> **[Arrangements](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_66)**<br>| &nbsp;&nbsp; 107 |
| **[Additional Information about Risks](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_66)** | &nbsp;&nbsp; 107 |
| [Information System Failures and Cybersecurity](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_66)<br> [Risks](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_66)<br>| &nbsp;&nbsp; 107 |
| [Risks from Serious Infectious Disease](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_67)<br> [Outbreaks](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_67)<br>| &nbsp;&nbsp; 108 |
| **[Legal Proceedings](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_67)** | &nbsp;&nbsp; 108 |
| **[Voting Rights](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_68)** | &nbsp;&nbsp; 109 |
| **[Financial Statements](#xx_c1f64c43-9d5b-4d8c-a4a0-fe68bbea5b4c_68)** | &nbsp;&nbsp; 109 |
| [Appendix](#xx_72c7439d-ea07-4d38-bf52-e47915077706_1)[1A](#xx_72c7439d-ea07-4d38-bf52-e47915077706_1) | &nbsp;&nbsp; 1A<br> -1<br>|
| [Investment Options Available Under the Policy](#xx_72c7439d-ea07-4d38-bf52-e47915077706_1) | &nbsp;&nbsp; 1A<br> -1<br>|
| [Appendix](#xx_462ac1ae-f876-4010-97af-d0b53953418d_1)[1B](#xx_462ac1ae-f876-4010-97af-d0b53953418d_1) | &nbsp;&nbsp; 1B<br> -1<br>|
| [Investment Divisions, Model Portfolios and](#xx_462ac1ae-f876-4010-97af-d0b53953418d_1)<br> [Asset Allocation Models available with IPR](#xx_462ac1ae-f876-4010-97af-d0b53953418d_1)<br> [and IPR 2.0](#xx_462ac1ae-f876-4010-97af-d0b53953418d_1)<br>| &nbsp;&nbsp; 1B<br> -1<br>|
| [Appendix](#xx_c747ba82-5f90-4eb6-911b-bc2cc6c5c872_1)[1C](#xx_c747ba82-5f90-4eb6-911b-bc2cc6c5c872_1) | &nbsp;&nbsp; 1C<br> -1<br>|
| [Model Portfolios, Investment Divisions and](#xx_c747ba82-5f90-4eb6-911b-bc2cc6c5c872_1)<br> [Asset Allocation Models available with IPR](#xx_c747ba82-5f90-4eb6-911b-bc2cc6c5c872_1)<br> [3.0, IPR 4.0 and IPR 5.0](#xx_c747ba82-5f90-4eb6-911b-bc2cc6c5c872_1)<br>| &nbsp;&nbsp; 1C<br> -1<br>|
| [Appendix](#xx_e2ef8292-91a6-44b5-a745-fda4089075ac_1)[2](#xx_e2ef8292-91a6-44b5-a745-fda4089075ac_1) | &nbsp;&nbsp; 2<br> -1<br>|
| [FIR AVAILABILITY BY PLAN TYPE](#xx_e2ef8292-91a6-44b5-a745-fda4089075ac_1) | &nbsp;&nbsp; 2<br> -1<br>|
| [Appendix](#xx_b781cf93-154b-4b29-9831-32546da45b38_1)[3](#xx_b781cf93-154b-4b29-9831-32546da45b38_1) | &nbsp;&nbsp; 3<br> -1<br>|
| [State Variations](#xx_b781cf93-154b-4b29-9831-32546da45b38_1) | &nbsp;&nbsp; 3<br> -1<br>|
| [Appendix](#xx_ad8aa14d-f90c-42e6-9bd6-3373b8a22652_1)[4](#xx_ad8aa14d-f90c-42e6-9bd6-3373b8a22652_1) | &nbsp;&nbsp; 4<br> -1<br>|
| [HISTORICAL CHARGES AND VALUES FOR](#xx_ad8aa14d-f90c-42e6-9bd6-3373b8a22652_1)<br> [CERTAIN OPTIONAL BENEFITS](#xx_ad8aa14d-f90c-42e6-9bd6-3373b8a22652_1)<br>| &nbsp;&nbsp; 4<br> -1 <br>|

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ii

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**Definitions**

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**Accumulation Unit—** An accounting unit we use to calculate the Variable Accumulation Value prior to the Annuity Commencement Date. Each Investment Division of the Separate Account has a distinct variable Accumulation Unit value.

**Accumulation Value—** The sum of the Variable Accumulation Value, the Fixed Account Accumulation Value (if applicable), and the DCA Advantage Account Accumulation Value of a policy.

**ADBR—** Annual Death Benefit Reset Rider.

**ADBR Reset Value—** On the First Policy Anniversary, the ADBR Reset Value is the greater of (a) the Accumulation Value on the first Policy Anniversary or (b) the Return of Premium Death Benefit. The ADBR Reset Value on the second and each subsequent Reset Anniversary is defined as the greater of (a) the Accumulation Value on the current Reset Anniversary or (b) the Reset Value on the prior Reset Anniversary, plus any premium payments applied since the prior Reset Anniversary, less any ADBR Reset Value Proportional Reductions since the prior Reset Anniversary.

**ADBR Reset Value Proportional Reduction—** An amount equal to the amount withdrawn from the policy after the first policy anniversary (including applicable surrender charges), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the ADBR Reset Value immediately preceding the withdrawal.

**Adjusted Premium Payment—** The total dollar amount of premium payments made under the policy and allocated to the Investment Divisions of the Separate Account and DCA Advantage Account reduced by any withdrawals (including Future Income Purchases, if any) and applicable surrender charges in excess of any gain in the policy.

**Allocation Options —** The Investment Divisions of the Separate Account, any available Asset Allocation Model, the DCA Advantage Account and the Fixed Account.

**Annuitant—** The person or persons named on the Policy Data Page and whose life or lives determine the Income Payments and, if any, Future Income Payments.

**Annuity Commencement Date—** The date on which we are to make the first Income Payment under the policy, which cannot be later than the date you attain age 115.

**Asset Allocation Category(ies)—** A group of Investment Divisions of the Separate Account categorized based on investment risk determined by NYLIAC.

**Asset Allocation Model—** A model portfolio comprised of Investment Divisions of the Separate Account. The Asset Allocation Models are no longer available for new investment. The Asset Allocation Model program was discontinued as of May 1, 2020.

**Base Contract Charge—** Mortality and Expense Risk and Administrative Costs Charge (M&E Charge).

**Beneficiary or beneficiary—** The person or entity having the right to receive the death benefit proceeds set forth in the policy and who is the "designated beneficiary" for purposes of Section 72 of the Code (as defined below).

**Business Day—** Generally, any day on which the New York Stock Exchange (NYSE) is open for trading. Our Business Day ends at 4:00 p.m. Eastern Time or the close of regular trading of the NYSE, if earlier.

**Code—** The Internal Revenue Code of 1986, as amended.

**Consideration—** A premium payment, or a portion thereof and/or, if allowable, a transfer amount from an Investment Division to the Fixed Account.

**Dollar Cost Averaging (DCA) Advantage Account Accumulation Value—** The sum of premium payments and Premium Credits allocated to the DCA Advantage Account, plus interest credited on those premium payments and Premium Credits, less any transfers and partial withdrawals from the DCA Advantage Account, and less any surrender charges, policy service charges and rider charges deducted from the DCA Advantage Account. The DCA Advantage Account Accumulation Value will never be less than the DCA Advantage Account portion of the Nonforfeiture Value.

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**Dollar Cost Averaging (DCA) Advantage Account—** A non-variable Allocation Option to which you may allocate Premium Payments, subject to the limitations described on the Policy Data Page, and from which amounts are transferred to the Investment Divisions proportionally on a monthly basis. The DCA Advantage Account duration is shown on the Policy Data Page. We credit the DCA Advantage Account with a fixed interest rate. The benefits payable under the DCA Advantage Account (including principal and interest) are payable from NYLIAC's general account and are subject to the claims-paying ability of NYLIAC.

**Eligible Designated Beneficiary—** Eligible Designated Beneficiaries include spouses, minor children (until they reach the age of majority), someone who is disabled or chronically ill (including certain trusts for the disabled or chronically ill), or an individual not more than 10 years younger than the original IRA owner or plan participant.

**Fixed Account—** An account that is credited with a fixed interest rate which NYLIAC declares and is not part of the Separate Account. The benefits payable under the Fixed Account (including principal and interest) are payable from NYLIAC's general account and are subject to the claims-paying ability of NYLIAC.

**Fixed Account Accumulation Value—** The sum of premium payments, any Premium Credits and, if allowable, transfers allocated to the Fixed Account, plus interest credited on those premium payments, any Premium Credits and, if allowable, transfers, less any transfers and partial withdrawals from the Fixed Account, and less any surrender charges, policy service charges and rider charges assessed on and deducted from the Fixed Account. The Fixed Account Accumulation Value will never be less than the Fixed Account portion of the Nonforfeiture Value.

**Fund—** A mutual fund that has multiple series or Portfolios.

**Future Income Payments—** Fixed periodic income payments that NYLIAC makes through the Future Income Rider (FIR) after the Future Income Start Date.

**Future Income Purchases—** Purchases of future income through the Future Income Rider, through deductions from your Variable Accumulation Value. Future Income Purchases are considered withdrawals for the purposes of calculating the guaranteed amount under the Investment Preservation Rider or the amount of the Standard Death Benefit under the base policy or the Annual Death Benefit Reset Rider.

**Future Income Start Date—** A date selected by you (in accordance with the terms of your policy) once you make your first Future Income Purchase. You can only change your Future Income Start Date one time.

**Good Order—** Good Order is the standard that we apply when we determine whether an instruction is satisfactory. An instruction will be considered in Good Order if it complies with our administrative procedures and is sufficiently complete and clear that we do not need to exercise any discretion to follow such instruction or complete the transaction and that it complies with all relevant laws and regulations. We may delay or reject a request if it is not in Good Order. Good Order means the actual receipt by us of instructions relating to the requested transaction in writing or by other means we then permit (such as by telephone or electronic transmission), along with all forms and other information or documentation necessary to complete the request.

**Holding Period—** A pre-determined Holding Period you select at the time of application for either an Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 or Investment Preservation Rider 5.0. The Holding Periods available for new purchases may change from time to time.

**Holding Period End Date—** The Policy Anniversary corresponding to the end of the Holding Period selected and measured from either (a) the Rider Effective Date or (b) the Rider Reset Effective Date, whichever is later.

**Income Payments—** Periodic payments NYLIAC makes after the Annuity Commencement Date.

**Investment Division—** The variable investment options available under the policy. Each Investment Division invests exclusively in shares of a specified Portfolio.

**IPR/IPR 2.0/IPR 3.0/IPR 4.0/IPR 5.0—** Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 or Investment Preservation Rider 5.0 (collectively, the "investment preservation riders").

**IPR Death Benefit—** The death benefit available with the IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0.

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**IPR Guaranteed Amount—** The IPR Guaranteed Amount will equal the IPR Guarantee Percentage of the sum of all premium payments made in the first Policy Year, minus all IPR Guaranteed Amount Proportional Reductions made during the rider Holding Period. The current IPR Guarantee Percentages for new purchases are shown on the Rate Sheet Prospectus Supplement.

**IPR Guarantee Percentage—** The percentage used to calculate the IPR Guaranteed Amount. This percentage is shown on your IPR rider data page. For current percentages applicable to new purchases, please see the Rate Sheet Prospectus Supplement.

**IPR Reset—** For the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0 or Investment Preservation Rider 4.0, as applicable, changing the guaranteed amount to make it equal to either (i) your Accumulation Value on the Policy Anniversary following your request, or (ii) if you choose the 20-year Holding Period, 150% of the Accumulation Value on the Policy Anniversary following your request, both less any applicable reductions. For IPR 5.0, changing the guaranteed amount to make it equal to the IPR Guarantee Percentage of your Policy's Accumulation Value on the Policy Anniversary following your request less any applicable reductions.

**Life Income—Guaranteed Period Payment Option—** The default Income Payment option available under this policy. Monthly payments made under this option are made over the life of the Annuitant(s) with a guarantee of 10 years of payments, even if the Annuitant dies before the 10–year period has expired.

**M&E Charge—** The Mortality and Expense Risk and Administrative Costs Charge. Also referred to as a "Base Contract Charge."

**Non–Qualified Policies—** Policies that are not available for use by individuals in connection with employee retirement plans intended to qualify for special federal income tax treatment under Sections 403(b), 408, and 408A of the Code. Non–Qualified Policies include policies issued for other retirement plans or arrangements, including plans qualifying under Section 401(a) of the Code.

**Nonforfeiture Rate—** The rate used to calculate the Fixed Account and DCA Advantage Account Nonforfeiture Values. This rate, as shown on the Policy Data Page, is equal to the lesser of: a) 3.00%, and b) a rate that is not less than 1.00% and determined by using the six–month average of the five–year Constant Maturity Treasury Rate reported by the Federal Reserve for December through May (for period beginning July 1) and June through November (for period beginning January 1), rounded to the nearest .05%, minus 1.25%.

**Nonforfeiture Value—** The Nonforfeiture Value is equal to 87.50% of the Consideration(s) allocated to the Fixed Account and/or to the DCA Advantage Account accumulated at the Nonforfeiture Rate since the Payment Date or transfer date, minus any amounts withdrawn or transferred from the Fixed Account and/or the DCA Advantage Account, with the remaining amount accumulated at the Nonforfeiture Rate since the date of withdrawal or transfer.

**NYLIAC, we, our or us—** New York Life Insurance and Annuity Corporation.

**Owner (you, your)—** The individual(s) or entity(ies) designated as the Owner in the policy, or as subsequently changed after issue, who is entitled to exercise all rights under the policy.

**Payee—** The individual designated to receive Income Payments under the policy or the Future Income Rider.

**Payment Date—** The Business Day on which we receive a premium payment at the address specified in this Prospectus to receive such payment.

**Payment Year(s)—** With respect to any premium payment, the year(s) beginning on the date such premium payment is made to the policy.

**Policy Anniversary—** An anniversary of the Policy Date shown on the Policy Data Page.

**Policy Data Page—** Page 2 of the policy which contains the policy specifications.

**Policy Date—** The date from which we measure Policy Years, quarters, months, and Policy Anniversaries. It is shown on the Policy Data Page.

**Policy Year—** A year starting on the Policy Date. Subsequent Policy Years begin on each Policy Anniversary, unless otherwise indicated.

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**Portfolios —** The mutual fund portfolios in which the corresponding Investment Divisions invest.

**Premium Credit—** An additional credit we will apply to your Accumulation Value at the time you make premium payments. The Premium Credit is calculated as a percentage of (each) premium payment(s) and will never be less than 2 percent (the "Premium Credit Rate").

**Qualified Policies—** Policies for use by individuals under employee retirement plans that are intended to qualify for special federal income tax treatment under Sections 403(b), 408, and 408A of the Code. Qualified Policies do not include policies issued for any other retirement plans or arrangements, including plans qualifying under Section 401(a) of the Code.

**Rate Sheet Prospectus Supplement—** A supplement to this Prospectus that lists current charges, guaranteed amount percentages, and holding periods for certain optional benefits.

**Return of Premium Death Benefit—** The total dollar amount of premium payments made under this Policy reduced by any Return of Premium Death Benefit Proportional Withdrawals.

**Return of Premium Death Benefit Proportional Withdrawal—** An amount equal to the amount withdrawn from this Policy (including any amount withdrawn that may include surrender charges), divided by this Policy's Accumulation Value immediately preceding the withdrawal, multiplied by the Return of Premium Death Benefit immediately preceding the withdrawal.

**Rider Effective Date—** The date on which the IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 Rider, as applicable, is effective and the date from which the Holding Period End Date is measured. This date is stated on the rider Data Page. After an IPR Reset, this date is the same as the "Rider Reset Effective Date."

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

**Separate Account—** NYLIAC Variable Annuity Separate Account–III or NYLIAC Variable Annuity Separate Account–IV, each a segregated asset account we established to receive and invest premium payments paid under the policies. The Separate Account's Investment Divisions, in turn, purchase shares of Portfolios.

**Standard Death Benefit—** The death benefit that comes standard under the base policy. It guarantees that your beneficiaries will receive the greatest of: (i) your Accumulation Value, less any Premium Credits applied within the 12 months immediately preceding death; (ii) the Return of Premium Death Benefit; or (iii) the Step-up Death Benefit.

**Step–up Death Benefit—** the Accumulation Value as of the Policy Anniversary immediately following the expiration of the Surrender Charge Period for the first premium payment, plus any other premium payments made since that Policy Anniversary, reduced proportionally by any amounts withdrawn from the policy since that Policy Anniversary.

**Surrender Charge Free Amount—** You may withdraw a certain amount from your policy each Policy Year without having to pay a surrender charge on that amount. We call this the Surrender Charge Free Amount. The maximum amount you may withdraw without a surrender charge in any given Policy Year is the greatest of either (i) 10% of your Accumulation Value as of your last Policy Anniversary (10% of your premium payments if the withdrawal is made in the first Policy Year), less any prior surrender charge free withdrawals you have already taken in that Policy Year; (ii) 10% of your Accumulation Value at the time of the withdrawal, less any prior surrender charge free withdrawals you have already taken in that Policy Year; or (iii) your Accumulation Value less your accumulated premium payments.

**Surrender Charge Period—** The period of time during which a partial withdrawal or surrender could be subject to a surrender charge.

**Variable Accumulation Value—** The sum of the current Accumulation Unit value(s) for each of the Investment Divisions multiplied by the number of Accumulation Units held in the respective Investment Division.

**VPSC—** The Variable Products Service Center.

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**Overview Of The Policy**

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**Q.** **What is this policy, and what is it designed to do?** 

A. The New York Life Premier Plus Variable Annuity II is designed to assist individuals with their long-term retirement planning or other long-term needs through investments in a variety of Allocation Options during an accumulation (savings) phase of the policy. The policy also offers death benefits to protect your designated beneficiaries. You can also elect to supplement your retirement income by converting your Accumulation Value into a stream of Income Payments (sometimes called annuity payments). This policy is only appropriate if you have a long investment time horizon. It is not intended for people who may need to make early or frequent withdrawals or intend to engage in frequent trading in the Portfolios.

**Q.** **How do I accumulate assets in the policy and receive income from the policy?** 

A. Your policy has two phases:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the accumulation (savings) phase, when you make premium payments to us, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the annuity (income) phase, when we make Income Payments to you.

**<u>Accumulation (Savings) Phase</u>** 

During the accumulation (savings) phase of the policy, you can invest your premium payments in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● a variety of Investment Divisions (you may choose up to 18). Each Investment Division invests in a corresponding (mutual fund) Portfolio, each of which has its own investment strategies, investment adviser(s), expense ratios, and returns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● a Fixed Account option, which offers a guaranteed fixed interest rate for one–year periods; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● a DCA Advantage Account, which transfers amounts automatically to the Investment Divisions you choose in up to six monthly increments and pays you interest on amounts remaining in the DCA Advantage Account.

**<u>Additional information about the Portfolios, the Fixed Account and the DCA Advantage Account is provided in Appendix 1A:</u> *<u>Investment Options Available Under the Policy.</u>*** 

**<u>Annuity (Income) Phase</u>** 

You can elect to annuitize your policy and turn your Accumulation Value into a fixed stream of Income Payments (sometimes called annuity payments) from NYLIAC. If you do that, we will make payments over the life of the Annuitant (s) for 10 years, even if the Annuitant dies sooner. This is called the Life Income – Guaranteed Period Payment Option. We may offer other options, at our discretion, where permitted by state law. We do not currently offer variable Income Payment options.

Please note that when you annuitize your policy, your Accumulation Value will be converted to Income Payments and you may no longer withdraw money at will from your policy. However, you may elect partial annuitization and apply a portion of your Accumulation Value towards one of the Income Payment options we may offer, while the remainder of the policy can remain invested in your Allocation Options and will continue to provide the opportunity to accumulate Accumulation Value on a tax-deferred basis. All benefits (including guaranteed minimum death benefits and living benefits) terminate when you annuitize your entire Accumulation Value.

**Q.** **What are the policy's primary features and options?** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.**Base Contract Charge (M&E Charge) options.** You can choose to have your Mortality and Expense Risk and Administrative Costs Charge ("M&E Charge") assessed based on either the Accumulation Value of the policy (which invests in Separate Account III) or your Adjusted Premium Payments (which invests in Separate Account IV). You must choose your M&E Charge option at the time of application. The M&E Charge assessed to your policy will be based on the option that you choose. Once the M&E Charge option is chosen it cannot be changed. For Accumulation Value-based M&E Charge policies, the M&E Charge is assessed based on the Accumulation Value of the policy and will vary with fluctuations in the policy's Accumulation Value. For Premium-based M&E Charge policies, the M&E Charge is assessed based on your Adjusted Premium Payments and will not vary with

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fluctuations in the policy's Accumulation Value. Please see "CHARGES AND DEDUCTIONS—Annual Policy Expenses—Base Contract Charges (M&E Charge)" for more information.

The amount of Premium-based M&E Charges deducted from your Accumulation Value will be unaffected by fluctuations in market performance. In a rising market, the Premium-based M&E Charge structure will benefit you because, when calculated as a percentage of separate account assets, the Premium-based M&E Charge will be reduced. In a flat or declining market, the Premium-based M&E Charge will result in a higher charge when calculated as a percentage of separate account assets. The amount of Accumulation Value-based M&E Charges assessed to your policy will be affected by fluctuations in market performance. However, the Accumulation Value-based M&E Charge structure may be more advantageous in a flat or declining market.

**Premium Credit.** We will add a lump sum amount (Premium Credit) to your Accumulation Value at the time you make each premium payment. The Premium Credit is calculated as a percentage of each premium payment. The percentage will depend on the rate schedule then in effect and will never be less than 2.00%. Premium Credits may be recaptured if you cancel your policy in accordance with its Free Look provision, or if we make a payment under the Standard Death Benefit. As of the date of this Prospectus, the Premium Credit Rate schedule is as follows:

**&nbsp;&nbsp;&nbsp;&nbsp; <u>Total Accumulated Premiums</u> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Credit Rate</u>**

**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** $499,999 or Less&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;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $500,000 or greater&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; 4.00%

**Accessing your money.** Until you annuitize (begin Income Payments), you have full access to your money. You can choose to withdraw part or all of your Accumulation Value at any time (through partial withdrawals, periodic partial withdrawals, hardship withdrawals or surrendering the policy). See "ANNUITY PAYMENTS (THE INCOME PHASE)— Annuity Commencement Date." However, if you withdraw more than the Surrender Charge Free Amount during the Surrender Charge Period before age 59½, you may have to pay a surrender charge and/or taxes, including tax penalties (see "CHARGES AND DEDUCTIONS—Transaction Expenses—Exceptions to Surrender Charges").

**Tax treatment.** Your premium payments accumulate on a tax-deferred basis. This means your earnings are not taxed until you take money out of your policy, such as when (1) you make a withdrawal; (2) you receive an Income Payment from the policy; or (3) upon payment of a death benefit.

**Loans—TSA plans/Accumulation Value–based M&E Charge policies only.** You may be able to borrow some of your Accumulation Value subject to certain conditions only if you (i) purchased your policy in connection with a 403(b) (TSA) plan, and (ii) chose to have your M&E charges based on the Accumulation Value of your policy.

**Death benefits.** Your policy includes a Standard Death Benefit. It guarantees that your beneficiaries will receive the greatest of: (i) your Accumulation Value, less any Premium Credits applied within the 12 months immediately preceding death; (ii) the Return of Premium Death Benefit; or (iii) the Step-up Death Benefit. For an additional fee, you can also purchase the ADBR or IPR 5.0 at the time of application. The ADBR or IPR 5.0 may increase the amount of money payable to your designated beneficiaries upon your death. These riders are only available when you apply(ied) for your policy. (See "DESCRIPTION OF BENEFITS – Annual Death Benefit Reset Rider and Investment Preservation Rider 5.0" for more information about ADBR and IPR Death Benefit calculations).

**Optional benefits that occur during your lifetime.** For an additional fee, you can purchase an investment preservation rider at the time of application that protects your investment from declining markets, for a specified Holding Period (Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 or Investment Preservation Rider 5.0 (collectively, the "investment preservation riders")). Policies that were applied for prior to May 1, 2017 also included a Future Income Rider that enables you to purchase a stream of guaranteed lifetime income to help protect you from outliving your assets (not included with certain qualified plans).

**Living Needs Benefit/Unemployment benefit.** At no additional charge, we currently include a Living Needs Benefit/Unemployment Rider with all policies. This benefit increases the amount that can be withdrawn from your policy without a surrender charge when certain qualifying events occur.

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**Automatic asset rebalancing and dollar cost averaging.** At no additional charge, you may select automatic asset rebalancing, which automatically rebalances your value in the Investment Divisions to maintain your chosen percentage allocation. Also, at no additional charge, you may select either (i) traditional dollar cost averaging, which automatically transfers a specific amount of money from any Investment Division to any combination of Investment Divisions and/or Fixed Account at set intervals, or (ii) the DCA Advantage Account, which is an Allocation Option that transfers amounts automatically to the Investment Divisions you choose in up to six monthly increments and pays you interest on amounts remaining in the account. (You may not elect traditional dollar cost averaging if you have elected automatic asset rebalancing.)

**Interest sweep.** At no additional charge, you may select the interest sweep option which automatically transfers interest earned on the Fixed Account to one or any combination of Investment Divisions or an available Asset Allocation Model.

**Electronic Delivery.** You may elect to receive electronic delivery of current prospectuses related to this policy, as well as other policy-related documents.

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

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| **FEES, EXPENSES AND ADJUSTMENTS** | **LOCATION IN**<br> **PROSPECTUS**<br>|

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| **Are There** <br> **Charges for Early**<br> **Withdrawals?**<br>| **Yes.** In most jurisdictions,\* if you withdraw more than the Surrender <br> Charge Free Amount from your policy within 8 years following your last <br> premium payment, you will be assessed a surrender charge. The <br> maximum surrender charge is 8% of the amount withdrawn during the <br> first two Payment Year(s), declining to 0% over that eight-year period. <br> For example, if you make an early withdrawal within the first two <br> Payment Years, you could pay a surrender charge of up to $8,000 on a <br> $100,000 investment. The withdrawal amount could be reduced by <br> taxes or tax penalties.<br> \*Policies issued in New York are subject to a different surrender <br> charge schedule. See APPENDIX 3 - State Variations for details.<br>| **CHARGES AND** <br> **DEDUCTIONS –** <br> **Transaction** <br> **Expenses -** <br> **Surrender Charges**<br>**FEE TABLE**<br>|

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| **Are There** <br> **Transaction**<br> **Charges?**<br>| **Yes**. In addition to surrender charges, we reserve the right to assess a <br> transaction charge if you transfer cash value between investment <br> options more than 12 times a year, or if a premium payment is returned <br> for insufficient funds. A loan processing fee may apply if you take a <br> policy loan. Although we do not currently charge for such transactions, <br> we reserve the right to charge up to $30 per transaction. A Rider Risk <br> Charge Adjustment ("Cancellation Charge") may apply if you <br> discontinue the investment preservation rider.<br>| **CHARGES AND** <br> **DEDUCTIONS –** <br> **Transaction** <br> **Expenses**<br>**FEE TABLE**<br>|

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|:---|:---|:---|
| **Are There** <br> **Ongoing Fees** <br> **and**<br> **Expenses?**<br>| **Yes**. The table below describes the fees and expenses that you may <br> pay *each year*, depending on the investment options and optional <br> benefits you choose. Please refer to your Policy Data Page for <br> information about the specific fees you will pay each year based on the <br> options you have elected.<br>| **CHARGES AND** <br> **DEDUCTIONS –** <br> **Annual Policy** <br> **Expenses; Annual** <br> **Portfolio Expenses;** <br> **Optional Benefit** <br> **Expenses**<br>**FEE TABLE**<br>|

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|:---|:---|:---|:---|
| **ANNUAL FEE\*** | **MINIMUM** | **MAXIMUM** |  |
| Base contract<sup>1</sup> <br>| 1.30% | 1.60% | **CHARGES AND** <br> **DEDUCTIONS –** <br> **Annual Policy** <br> **Expenses**<br>|
| Portfolio fees and expenses<sup>2</sup> <br>| 0.37% | 1.45% | **CHARGES AND** <br> **DEDUCTIONS –** <br> **Annual Portfolio** <br> **Expenses**<br>|
| Optional benefits available for an <br> additional charge (for a single <br> optional benefit, if elected)<sup>3</sup> <br>| See Rate Sheet <br> Prospectus <br> Supplement<br>| See Rate Sheet <br> Prospectus <br> Supplement<br>| **CHARGES AND** <br> **DEDUCTIONS –** <br> **Optional Benefit** <br> **Expenses** <br>|

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<sup>1</sup> As a percentage of Accumulation Value after the Surrender Charge <br> Period for the initial premium (Minimum Base Contract Charge) and as <br> a percentage of Adjusted Premium Payments during the Surrender <br> Charge Period for the initial premium (Maximum Base Contract Charge <br> plus a percentage attributable to the Annual Policy Service Charge).<br> <sup>2</sup> As a percentage of average net Portfolio assets. The range in fees <br> and expenses is for the year ended December 31, 2025 and will <br> change from year to year.<br> <sup>3</sup>The minimum fee reflects the current charge for the Annual Death <br> Benefit Rider, as an annualized percentage of the amount guaranteed <br> under the rider. The maximum fee reflects the current charge for the <br> Investment Preservation Rider or Investment Preservation Rider 2.0 <br> (12-year holding period), as an annualized percentage of the amount <br> that is guaranteed under the rider. <br> \*Applicable fees may vary depending on purchase date. See FEE <br> TABLE.<br>

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|:---|:---|
| Because your policy is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your <br> policy, the following table shows the lowest and highest cost you could <br> pay *each year*, based on current charges. This estimate assumes that <br> you do not take withdrawals from the policy, **which could add** <br> **surrender charges that substantially increase costs.** | Because your policy is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your <br> policy, the following table shows the lowest and highest cost you could <br> pay *each year*, based on current charges. This estimate assumes that <br> you do not take withdrawals from the policy, **which could add** <br> **surrender charges that substantially increase costs.** |
| **LOWEST ANNUAL COST**<br>See Rate Sheet Prospectus <br> Supplement<br>| **HIGHEST ANNUAL COST**<br>See Rate Sheet Prospectus <br> Supplement |
| Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Least expensive combination of <br> Base Contract Charges and <br> Portfolio fees and expenses<br>•No optional benefits<br> •No sales charges<br> •No additional purchase <br> payments, transfers or <br> withdrawals<br>| Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Most expensive combination of <br> Base Contract Charges, <br> optional benefits, and Portfolio <br> fees and expenses<br>•No sales charges<br> •No additional purchase <br> payments, transfers or <br> withdrawals |

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| | | |
|:---|:---|:---|
|  | **RISKS** | **LOCATION IN** <br> **PROSPECTUS**<br>|
| **Is There a Risk of** <br> **Loss from Poor** <br> **Performance?**<br>| **Yes**. You can lose money by investing in this policy. | **PRINCIPAL RISKS** <br> **OF INVESTING IN** <br> **THE POLICY** <br>|

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| | | |
|:---|:---|:---|
| **Is This a** <br> **Short-Term**<br> **Investment?**<br>| **No**. This policy is not designed for short-term investing and is not <br> appropriate for an investor who readily needs access to cash. <br> Surrender charges apply for up to 8 years following your last premium <br> payment. They will reduce the value of your policy if you withdraw <br> money during that time. Withdrawals may also be subject to federal and <br> state income taxes and tax penalties. The benefits of tax deferral and <br> living benefit protections also mean the policy is more beneficial to <br> investors with a long time horizon. If you elect an investment <br> preservation rider, you will not receive a benefit under the rider unless <br> you hold the policy for at least the specified Holding Period applicable <br> to the rider.<br>| **PRINCIPAL RISKS** <br> **OF INVESTING IN** <br> **THE POLICY**<br>|
| **What Are the** <br> **Risks Associated**<br> **with the** <br> **Investment**<br> **Options?**<br>| •An investment in this policy is subject to the risk of poor investment <br> performance and can vary depending on the performance of the <br> variable investment options (e.g., Portfolios) and guaranteed options <br> (e.g., the Fixed Account and DCA Advantage Account) you choose.<br>•Each investment option, including the Fixed Account and DCA <br> Advantage Account, has its own unique risks.<br>•You should review the prospectuses for the available Portfolios and <br> the description in this prospectus of the Fixed Account and the DCA <br> Advantage Account before making an investment decision.<br>| **PRINCIPAL RISKS** <br> **OF INVESTING IN** <br> **THE POLICY**<br>|
| **What Are the** <br> **Risks Related to** <br> **the Insurance** <br> **Company?**<br>| An investment in the policy is subject to the risks related to NYLIAC, <br> including that any obligations, guarantees, and benefits of the policy <br> are subject to the claims-paying ability of NYLIAC. If NYLIAC <br> experiences financial distress, it may not be able to meet its obligations <br> to you. More information about NYLIAC is available upon request from <br> NYLIAC by calling the VPSC at 1-800-598-2019.<br>| **PRINCIPAL RISKS** <br> **OF INVESTING IN** <br> **THE POLICY**<br>|

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| | | |
|:---|:---|:---|
|  | **RESTRICTIONS** | **LOCATION IN** <br> **PROSPECTUS**<br>|
| **Are There Limits** <br> **on the** <br> **Investment** <br> **Options?**<br>| **Yes.**<br> •We limit the number of Investment Divisions you may choose. You <br> may allocate premium payments and Accumulation Value to up to 18 <br> separate Investment Divisions, plus the Fixed Account and DCA <br> Advantage Account, some of which may not be available under your <br> policy.<br>•We reserve the right to charge $30 for each transfer when you <br> transfer money between Investment Divisions in excess of 12 times in <br> a Policy Year.<br>•Additional restrictions apply with respect to transfers to and from the <br> Fixed Account and DCA Advantage Account.<br>•We reserve the right to limit transfers in circumstances of frequent <br> transfers or to prevent market timing.<br>•We reserve the right to remove, close, or substitute Portfolios as <br> investment options that are available under the policy.<br>•Premium Credits under the policy may be recaptured upon free look, <br> annuitization, and death.<br>| **THE** <br> **POLICIES—Policy** <br> **Application and** <br> **Premium Payments,** <br> **Transfers, and** <br> **Limits on Transfers**<br>**NYLIAC AND THE** <br> **SEPARATE** <br> **ACCOUNTS—**<br> **Additions,** <br> **Deletions, or** <br> **Substitutions of** <br> **Investments** <br>|

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| | | |
|:---|:---|:---|
| **Are There** <br> **Restrictions on** <br> **Policy Benefits?**<br>| **Yes.**<br> •Certain optional benefits limit or restrict the investment options you <br> may select under the policy. We may change these restrictions in the <br> future.<br>•Certain optional benefits may limit withdrawals or other rights under <br> the policy.<br>•Under certain benefits, a withdrawal could reduce the value of a <br> benefit by more than the dollar amount of the withdrawal and/or could <br> terminate the benefit.<br>•You are required to have a minimum Accumulation Value for some <br> optional benefits.<br>•We may modify or discontinue an optional benefit at any time.<br> •Some optional benefits cannot be cancelled without surrendering <br> your policy.<br>•The amount of the death benefit available under certain optional <br> benefits may vary depending on the date of death. Certain optional <br> benefits may offer a lesser death benefit at issue and require that the <br> policy be held for a minimum waiting period before the greater death <br> benefit will be payable. If you die before the end of the minimum <br> waiting period, the death benefit will be less than the greater death <br> benefit available after the minimum waiting period. Additionally, where <br> there is a reset of certain optional benefit riders, a new minimum <br> waiting period will be required before the greater death benefit will be <br> payable. If you die before the end of the new minimum waiting <br> period, the death benefit may be less than the greater death benefit <br> available after the new minimum waiting period.<br>| **DESCRIPTION OF** <br> **BENEFITS**<br>|
|  | **TAXES** | **LOCATION IN** <br> **PROSPECTUS**<br>|
| **What are the** <br> **Policy's Tax**<br> **Implications?**<br>| •Consult with a tax professional to determine the tax implications of <br> an investment in, withdrawals from and surrenders of this policy.<br>•If you purchase the policy through a tax-qualified plan or individual <br> retirement account (IRA), such plan or IRA already provides tax <br> deferral under the Code and there are fees and charges in an annuity <br> that may not be included in such other investments. Therefore, the <br> tax deferral of the policy does not provide additional benefits.<br>•Premiums that are made on a pre-tax basis as well as earnings on <br> your policy are taxed at ordinary income tax rates when you withdraw <br> them, and you may have to pay a 10% penalty tax if you take a <br> withdrawal before age 59½.<br>| **FEDERAL TAX** <br> **MATTERS**<br>|
|  | **CONFLICTS OF INTEREST** | **LOCATION IN** <br> **PROSPECTUS**<br>|
| **How are** <br> **Investment**<br> **Professionals**<br> **Compensated?**<br>| Your registered representative may receive compensation for selling <br> this policy to you, in the form of commissions, asset-based <br> compensation, allowances for expenses, and other compensation <br> programs. Your registered representative may have a financial incentive <br> to offer or recommend this policy over another investment.<br>| **DISTRIBUTION AND** <br> **COMPENSATION** <br> **ARRANGEMENTS** <br>|

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| | | |
|:---|:---|:---|
| **Should I** <br> **Exchange My** <br> **Policy?**<br>| Your registered representative may have a financial incentive to offer <br> you a new policy in place of the one you own. You should consider <br> exchanging your policy if you determine, after comparing the features, <br> fees, risks of both policies, and any fees or penalties to terminate the <br> existing policy, that it is in your best interest to purchase the new policy <br> rather than continue to own your existing policy.<br>| **THE POLICIES –** <br> **Tax-Free** <br> **Section 1035** <br> **Exchanges;**<br> **Selecting the** <br> **Variable Annuity** <br> **That's Right for You**<br>|

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**Fee Table**

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**The following tables describe the fees and expenses that you will pay when buying, owning, making withdrawals from, or surrendering the policy. Please refer to your Policy Data Page for information about the specific fees you will pay each year based on the options you have elected.** 

**The first table describes the fees and expenses that you will pay at the time that you buy the policy, surrender, or make withdrawals from the policy, or transfer Accumulation Value between investment options. State premium taxes may also be deducted.**

**<u>Transaction Expenses</u>**

Surrender Charges (as a percentage of amount withdrawn). Applied to amounts in excess of the Surrender Charge Free Amount that you may withdraw each Policy Year. For the surrender charge schedule applicable for policies issued in New York with an application signed on or after November 13, 2023, see Appendix 3 – State Variations.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Payment Year** | **1** | **2** | **3** | **4** | **5** | **6** | **7** | **8** | **9+** |
| Surrender Charge | 8.00% | 8.00% | 7.00% | 6.00% | 5.00% | 4.00% | 3.00% | 2.00% | 0.00% |

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| | | |
|:---|:---|:---|
| **Other Transaction Charges** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| Transfer Fee (charged for transfers in excess of 12 in a Policy Year) | $30 | $0 |
| Payments Returned for Insufficient Funds | $20 | $0 |
| Loan Processing Fee (TSA Plans only) | $25 | $0 |

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| | | | |
|:---|:---|:---|:---|
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Rider Risk Charge Adjustment for IPR,** <br> **IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0** <br> **(Cancellation Charge)\***<br>(one–time charge for cancellation of the <br> IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0; <br> calculated as a percentage of the amount <br> guaranteed) | 12 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment for IPR,** <br> **IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0** <br> **(Cancellation Charge)\***<br>(one–time charge for cancellation of the <br> IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0; <br> calculated as a percentage of the amount <br> guaranteed) | 13 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment for IPR,** <br> **IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0** <br> **(Cancellation Charge)\***<br>(one–time charge for cancellation of the <br> IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0; <br> calculated as a percentage of the amount <br> guaranteed) | 14 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment for IPR,** <br> **IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0** <br> **(Cancellation Charge)\***<br>(one–time charge for cancellation of the <br> IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0; <br> calculated as a percentage of the amount <br> guaranteed) | 15 Year Holding Period | 2.00% | 2.00% |
| **Rider Risk Charge Adjustment for IPR,** <br> **IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0** <br> **(Cancellation Charge)\***<br>(one–time charge for cancellation of the <br> IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0; <br> calculated as a percentage of the amount <br> guaranteed) | 20 Year Holding Period | 1.00% | 1.00% |

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\*Cancellation charge also applies to cancellation of the IPR under the IPR + ADBR Package

The next table describes the fees and expenses that you will pay each year during the time that you own the policy (not including Portfolio fees and expenses).

**If you choose to purchase an optional benefit, you will pay additional charges, as shown below.** 

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**<u>Annual Policy Expenses</u>**

**Base Contract Charges (Without Optional Benefits)** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Policies with Accumulation**<br> **Value-based Base Contract Charges**<sup>1</sup>  | **Policies with Accumulation**<br> **Value-based Base Contract Charges**<sup>1</sup>  | **Policies with Premium-based**<br> **Base Contract Charges**<sup>2</sup>  | **Policies with Premium-based**<br> **Base Contract Charges**<sup>2</sup>  |
| **Administrative**<br> **Expense**<sup>3</sup><br>| $30 | $30 | $30 | $30 |
| **Base Contract**<br> **Expenses**<sup>4</sup> **for**<br> **Policies**<br> **applied for on or**<br> **after May 1, 2016** | **Guaranteed**<br> **Maximum Charge**<br>| **Current Charge** | **Guaranteed**<br> **Maximum Charge**<br>| **Current Charge** |
| **Base Contract**<br> **Expenses**<sup>4</sup> **for**<br> **Policies**<br> **applied for on or**<br> **after May 1, 2016** | 1.60%<br>(During the <br> Surrender Charge <br> Period for the initial <br> premium)<br>| 1.50%<br>(During the <br> Surrender Charge <br> Period for the initial <br> premium)<br>| 1.70%<br>(During the <br> Surrender Charge <br> Period for the initial <br> premium)<br>| 1.60%<br>(During the <br> Surrender Charge <br> Period for the initial <br> premium)<br>|
| **Base Contract**<br> **Expenses**<sup>4</sup> **for**<br> **Policies**<br> **applied for on or**<br> **after May 1, 2016** | 1.40%<br>(After the Surrender <br> Charge Period for the <br> initial premium)<br>| 1.30%<br>(After the Surrender <br> Charge Period for the <br> initial premium)<br>| 1.50%<br>(After the Surrender <br> Charge Period for the <br> initial premium)<br>| 1.40%<br>(After the Surrender <br> Charge Period for the <br> initial premium)<br>|
| **Base Contract**<br> **Expenses**<sup>4</sup> **for**<br> **Policies applied for**<br> **before May 1, 2016** | **Guaranteed** <br> **Maximum Charge**<br>| **Current Charge** | **Guaranteed**<br> **Maximum Charge**<br>| **Current Charge** |
| **Base Contract**<br> **Expenses**<sup>4</sup> **for**<br> **Policies applied for**<br> **before May 1, 2016** | 1.60%<br>(During the <br> Surrender Charge <br> Period for the initial <br> premium)<br>| 1.60%<br>(During the <br> Surrender Charge <br> Period for the initial <br> premium)<br>| 1.70%<br>(During the <br> Surrender Charge <br> Period for the initial <br> premium)<br>| 1.70%<br>(During the <br> Surrender Charge <br> Period for the initial <br> premium)<br>|
| **Base Contract**<br> **Expenses**<sup>4</sup> **for**<br> **Policies applied for**<br> **before May 1, 2016** | 1.40%<br>(After the Surrender <br> Charge Period for the <br> initial premium)<br>| 1.40%<br>(After the Surrender <br> Charge Period for the <br> initial premium)<br>| 1.50%<br>(After the Surrender <br> Charge Period for the <br> initial premium)<br>| 1.50%<br>(After the Surrender <br> Charge Period for the <br> initial premium)<br>|

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As an annualized percentage of daily Variable Accumulation Value.

As an annualized percentage of Adjusted Premium Payments.

We call this fee the "Annual Policy Service Charge" in your policy and elsewhere in the prospectus. This fee is waived for policies that have $100,000 or more of Accumulation Value on a given Policy Anniversary. For policies with IPR 4.0 and IPR 5.0, the annual fee will be waived for the entirety of the policy if your cumulative first year premium(s) are greater than or equal to $25,000.

We call this the "Mortality and Expense Risk and Administrative Costs Charge (M&E)" in your policy and elsewhere in this prospectus.

**<u>Optional Benefit Expenses</u>**

**The following table applies to Optional Benefits currently available for purchase:** 

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| | | | |
|:---|:---|:---|:---|
| **IPR 5.0** | **IPR 5.0** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge for IPR 5.0\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge for IPR 5.0\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge for IPR 5.0\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge for IPR 5.0\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge for IPR 5.0\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2023**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2023**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2023**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2023**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 5.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2023**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 5.0, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Death Benefit Reset Rider (ADBR) Charge**<br>(calculated as an annualized percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the Policy Date if within the first Policy <br> Year), deducted on a quarterly basis; for a detailed explanation of the term <br> "ADBR Reset Value," see "DESCRIPTION OF BENEFITS – Annual Death <br> Benefit Reset (ADBR) Rider"). | **Annual Death Benefit Reset Rider (ADBR) Charge**<br>(calculated as an annualized percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the Policy Date if within the first Policy <br> Year), deducted on a quarterly basis; for a detailed explanation of the term <br> "ADBR Reset Value," see "DESCRIPTION OF BENEFITS – Annual Death <br> Benefit Reset (ADBR) Rider"). | 1.00% | 0.25% |

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\*For IPR Gurantee Percentages for IPR 5.0 for policies with an application signed prior to February 10, 2025, see APPENDIX 4.

**The following table applies to Optional Benefits that are no longer available for purchase:** 

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| | | | |
|:---|:---|:---|:---|
| **IPR (Policies applied for between May 1, 2015 and April 30, 2016)** | **IPR (Policies applied for between May 1, 2015 and April 30, 2016)** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.65% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.40% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.30% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.50% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |

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\* For Annual Charges for IPR Resets with a Rider Reset Effective Date prior to May 1, 2019, see APPENDIX 4.

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| | | | |
|:---|:---|:---|:---|
| **IPR (Policies applied for between May 1, 2016 and April 30, 2017)** | **IPR (Policies applied for between May 1, 2016 and April 30, 2017)** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.95% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.75% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.65% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.55% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.70% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR Reset** <br> **with a Rider Reset Effective Date on or** <br> **after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |

---

\* For Annual Charges for IPR Resets with a Rider Reset Effective Date prior to May 1, 2019, see APPENDIX 4.

---

| | | | |
|:---|:---|:---|:---|
| **IPR 2.0 (Policies applied for between May 1, 2017 and November 12,** <br> **2017)** | **IPR 2.0 (Policies applied for between May 1, 2017 and November 12,** <br> **2017)** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.95% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.75% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.65% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.55% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.70% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |

---

\* For Annual Charges for IPR 2.0 resets with a Rider Reset Effective Date prior to May 1, 2019, see APPENDIX 4.

---

| | | | |
|:---|:---|:---|:---|
| **IPR 2.0 (Policies applied for between November 13, 2017 and April 30,** <br> **2018)** | **IPR 2.0 (Policies applied for between November 13, 2017 and April 30,** <br> **2018)** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.85% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.60% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge** <br>|

---

------

---

| | | | |
|:---|:---|:---|:---|
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019\***<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |

---

\* For Annual Charges for IPR 2.0 Resets with a Rider Reset Effective Date prior to May 1, 2019, see APPENDIX 4.

---

| | | | |
|:---|:---|:---|:---|
| **IPR 3.0** | **IPR 3.0** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.85% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.60% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elect an IPR 3.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 3.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 3.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 3.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 3.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **IPR 4.0** | **IPR 4.0** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.55% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.60% |
|  |  | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elect an IPR 4.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 4.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 4.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 4.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |
| **Annual Charge if you elect an IPR 4.0** <br> **Reset with a Rider Reset Effective Date** <br> **on or after May 1, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges |

---

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

------

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| | | |
|:---|:---|:---|
| **Annual Death Benefit Reset Rider (ADBR) (Purchased prior to May 1,** <br> **2016)**<br>| **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the Policy Date if within the first Policy <br> Year), deducted on a quarterly basis; for a detailed explanation of the term <br> "ADBR Reset Value," see "DESCRIPTION OF BENEFITS––Annual Death <br> Benefit Reset (ADBR) Rider"). | 1.00% | 0.30%<br>*(if the oldest* <br> *Owner was age 65* <br> *or younger when* <br> *the policy was* <br> *issued)*<br>|
| **Annual Charge**<br>(calculated as an annualized percentage of the ADBR Reset Value as of <br> the last Policy Anniversary (or as of the Policy Date if within the first Policy <br> Year), deducted on a quarterly basis; for a detailed explanation of the term <br> "ADBR Reset Value," see "DESCRIPTION OF BENEFITS––Annual Death <br> Benefit Reset (ADBR) Rider"). | 1.00% | 0.35%<br>*(if the oldest* <br> *Owner was age 66* <br> *to 75 inclusive* <br> *when the policy* <br> *was issued)*<br>|

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **IPR + ADBR Package (Policies applied for between** <br> **May 1, 2015 and April 30, 2016)** | **IPR + ADBR Package (Policies applied for between** <br> **May 1, 2015 and April 30, 2016)** | **Guaranteed**<br> **Maximum**<br> **Combined**<br> **Charge for the**<br> **IPR + ADBR**<br> **Package**<br>| **Current charge**<br> **for IPR portion of**<br> **the IPR + ADBR**<br> **package if you** <br> **elect an IPR** <br> **Reset with a** <br> **Rider Reset** <br> **Effective Date on** <br> **or after May 1,** <br> **2019\***<br>| **Current Charge**<br> **for the ADBR**<br> **portion of the**<br> **IPR + ADBR**<br> **Package**<br>|
| **Annual Charge**<br>(calculated as the sum of (1) the <br> Investment Preservation Rider <br> Charge, calculated as an <br> annualized percentage of the <br> amount guaranteed under the <br> Investment Preservation Rider; <br> and (2) the Annual Death Benefit <br> Reset Rider Charge, calculated as <br> an annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)), and deducted quarterly. | 12 Year Holding <br> Period<br>| 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges | 0.25% |
| **Annual Charge**<br>(calculated as the sum of (1) the <br> Investment Preservation Rider <br> Charge, calculated as an <br> annualized percentage of the <br> amount guaranteed under the <br> Investment Preservation Rider; <br> and (2) the Annual Death Benefit <br> Reset Rider Charge, calculated as <br> an annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)), and deducted quarterly. | 13 Year Holding <br> Period<br>| 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges | 0.25% |
| **Annual Charge**<br>(calculated as the sum of (1) the <br> Investment Preservation Rider <br> Charge, calculated as an <br> annualized percentage of the <br> amount guaranteed under the <br> Investment Preservation Rider; <br> and (2) the Annual Death Benefit <br> Reset Rider Charge, calculated as <br> an annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)), and deducted quarterly. | 14 Year Holding <br> Period<br>| 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges | 0.25% |
| **Annual Charge**<br>(calculated as the sum of (1) the <br> Investment Preservation Rider <br> Charge, calculated as an <br> annualized percentage of the <br> amount guaranteed under the <br> Investment Preservation Rider; <br> and (2) the Annual Death Benefit <br> Reset Rider Charge, calculated as <br> an annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)), and deducted quarterly. | 15 Year Holding <br> Period<br>| 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges | 0.25% |
| **Annual Charge**<br>(calculated as the sum of (1) the <br> Investment Preservation Rider <br> Charge, calculated as an <br> annualized percentage of the <br> amount guaranteed under the <br> Investment Preservation Rider; <br> and (2) the Annual Death Benefit <br> Reset Rider Charge, calculated as <br> an annualized percentage of the <br> ADBR Reset Value as of the last <br> Policy Anniversary (or as of the <br> Policy Date if within the first Policy <br> Year)), and deducted quarterly. | 20 Year Holding <br> Period<br>| 2.00% | See Rate Sheet <br> Prospectus <br> Supplement for <br> Current Charges | 0.25% |

---

\* For Annual Charges for IPR Resets with a Rider Reset Effective Date prior to May 1, 2019, see APPENDIX 4.

**The next table shows the minimum and maximum total operating expenses charged by the Portfolios that you may pay periodically during the time that you own the policy. The expenses may change over time and may be higher or lower in the future. A complete list of Portfolios available under the policy, including their annual expenses, may be found in APPENDIX 1A**.

------

**<u>Annual Portfolio Expenses</u>** 

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| | | |
|:---|:---|:---|
|  | **Minimum** | **Maximum** |
| Expenses that are deducted from the Portfolio assets, including <br> management fees, distribution and/or service (12b-1) fees, and other <br> expenses.<sup>1</sup> <br>|  |  |
| Before fee waivers and expense reimbursements | 0.37% | 1.45% |
| After fee waivers and expense reimbursements<sup>2</sup> <br>| 0.28% | 1.45% |

---

Shown as a percentage of average net assets for the fiscal year ended December 31, 2025.

Fee waivers and expense reimbursements are expected to continue through April 30, 2027 and may be terminated at any time thereafter at the option of the Portfolio company.

**<u>Examples</u>**

These Examples are intended to help you compare the cost of investing in the Investment Divisions with the cost of investing in other annuity contracts that offer variable options. These costs include transaction expenses, annual policy expenses and Annual Portfolio Expenses.

These Examples assume all Accumulation Value is allocated to the Investment Divisions. Your costs could differ from those shown below if you invest in the Fixed Account or the DCA Advantage Account.

These Examples assume that you invest $100,000 in the Investment Divisions for the time periods indicated. The Examples also assume that your investment has a 5% return each year, and assumes the most expensive combination of Base Contract Charges, Annual Portfolio Expenses and optional benefits for an additional charge.\* Although your actual costs may be higher or lower, based on these assumptions your costs would be:

**Policies applied for on or after May 1, 2016:** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Years | Years | Years | Years |
|  | 1 yr | 3 yr | 5 yr | 10 yr |
| If you surrender your policy at the end of the applicable time <br> period:<br>| $11640.88 | $19669.10 | $26832.66 | $44487.79 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| If you annuitize at the end of the applicable time period: | $11640.88 | $13253.34 | $22192.55 | $44487.79 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| If you do not surrender your policy: | $4397.50 | $13253.34 | $22192.55 | $44487.79 |

---

\*Assumes you have elected a policy with premium-based Base Contract charges with both the IPR (10-year Holding Period) and the ADBR.

**Policies applied for before May 1, 2016:** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Years | Years | Years | Years |
|  | 1 yr | 3 yr | 5 yr | 10 yr |
| If you surrender your policy at the end of the applicable time <br> period:<br>| $11691.92 | $19821.11 | $27086.64 | $45001.60 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| If you annuitize at the end of the applicable time period: | $11691.92 | $13416.13 | $22459.84 | $45001.60 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| If you do not surrender your policy: | $4452.50 | $13416.13 | $22459.84 | $45001.60 |

---

\*Assumes you have elected a policy with premium-based Base Contract charges with both the IPR (20-year Holding Period) and the ADBR.

------

**Principal Risks of Investing in the Policy**

------

This section is intended to summarize the principal risks of investing in the policy.

**Market Risk.** You can lose money by investing in this policy, including loss of principal. An investment in this policy is subject to the risk of poor investment performance and can vary depending on the performance of the Allocation Options you choose. You bear the risk of any decline in your policy's value resulting from the performance of the Portfolios you have chosen. Amounts allocated to a Portfolio or an Asset Allocation Model are subject to the risks inherent in the securities markets and, specifically, to price fluctuations in the Portfolio's investments. Each investment option (including the Fixed Account) has its own unique risks. For more information about the risks of investing in a particular Portfolio, see that Portfolio's prospectus, which can be found online at https://dfinview.com/NewYorkLife/TAHD/premierplus-ii. You can also request this information at no cost by calling the VPSC at 1-800-598-2019 or by sending an email request with your name and mailing address to PremierPlusIIProspectus@newyorklife.com. You should review the prospectuses for the available Portfolios before making an investment decision.

**Early Withdrawal Risk.** This policy is not designed for short-term investing and is not appropriate for an investor who needs ready access to cash. Surrender charges apply for up to eight years after your last premium payment. They will reduce the value of your policy if you withdraw money during that time. Withdrawals could substantially reduce or even terminate the benefits available under the policy. Withdrawals may also be subject to federal and state income taxes, and tax penalties if the withdrawal is made before the owner attains age 59½. The benefits of tax deferral and the policy's living benefit protections also mean the policy is better for investors with a long time horizon.

**Policy Benefits Risk.** Certain benefits under the policy are contingent on several conditions being met. If those conditions are not met you may not realize a benefit from the policy or the optional benefits for which you have been charged a fee. For example:

&nbsp;&nbsp;&nbsp;&nbsp;● You may need to take withdrawals which have the potential to substantially reduce or terminate the Standard Death Benefit available under the policy. Withdrawals could reduce the value of the Standard Death Benefit by more than the dollar amount of the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;● The investment preservation riders require that you hold the policy for a certain number of years (the Holding Period) in order to receive an adjustment to your Accumulation Value, if applicable. If you surrender your policy before the Holding Period is over, you will not receive a benefit under the rider. If you take withdrawals during the Holding Period, the benefit provided by your particular investment preservation rider will be reduced proportionally by any such withdrawals. If your Accumulation Value is less than amount guaranteed by your investment preservation rider at the time the withdrawal is requested, the reduction in your guaranteed amount will be greater than the dollar amount withdrawn. Accordingly, under certain circumstances, a withdrawal could reduce the value of the benefit by more than the dollar amount of the withdrawal. In addition, you will only be allowed to allocate your premium payments to certain Allocation Options and the DCA Advantage Account, or you will be limited in the amount you can allocate to the Investment Divisions (based on certain thresholds for Asset Allocation Categories). If you cancel your investment preservation rider, you will be assessed a cancellation charge, which could significantly increase your costs under the policy.

&nbsp;&nbsp;&nbsp;&nbsp;● The IPR Death Benefit that is payable under the investment preservation riders may require that you hold the policy for a certain period of time before the IPR Death Benefit that is payable equals the Guaranteed

Amount under the investment preservation riders. If you die prior to the end of that required waiting period, the IPR Death Benefit will be equal to your first policy year premiums less any proportional withdrawals. Additionally, if you elect an IPR Reset, a new waiting period will begin before the Guaranteed Amount is payable as the IPR Death Benefit. If you die prior to the end of the new applicable waiting period, the IPR Death Benefit will be equal to the Accumulation Value as of the Rider Reset Effective Date less any proportional withdrawals. (See DESCRIPTION OF BENEFITS – IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0 for more information on IPR Death Benefit calculations.)

&nbsp;&nbsp;&nbsp;&nbsp;● The Future Income Rider allows you to purchase a future stream of guaranteed income, however there are limits as to the amount of future income that can be purchased and you are subject to an initial waiting period. Additionally, you must make all purchases at least two years before the Future Income Start Date or annuitization of the base policy, whichever comes first.

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

&nbsp;&nbsp;&nbsp;&nbsp;● The Annual Death Benefit Reset Rider only provides a benefit if your policy value increases over time. In addition, withdrawals will reduce the value of the benefits in proportion to the amount of the withdrawal relative to the total policy value at the time of the withdrawal. Accordingly, under certain circumstances, a withdrawal could reduce the value of the ADBR benefit by more than the dollar amount of the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;● The Living Needs Benefit/Unemployment Rider only provides a benefit after the policy has been in force for at least one year and only if a Qualifying Event occurs, and requires a minimum Accumulation Value of $5,000.

**Alternatives to the Policy.** Other policies or investments may provide more favorable returns or benefits than the policy and may have lower fees and expenses.

**Policy Changes and Investment Restrictions Risk.** We reserve the right to limit transfers, and we reserve the right to charge $30 for each transfer when you transfer money to or from the Investment Divisions and the Fixed Account more than 12 times in a Policy Year. We also reserve the right to terminate certain policy features such as dollar cost averaging, Automatic Asset Rebalancing, Asset Allocation Models and Interest Sweep.

There are restrictions that may limit the investments that you may choose if you choose one of the investment preservation riders. Amounts invested in accordance with those restrictions may earn a return that is less than the return you might have earned on those amounts in other Investment Divisions had you not been subject to any investment restrictions. If you have selected one of the investment preservations riders, we may change the permitted Investment Divisions that you may choose.

We may impose limits on the minimum and maximum amounts that you may invest in the policy or other transaction limits that may limit your use of the policy. In addition, we reserve the right to remove Investment Divisions or substitute Portfolios as investment options that are available under the policy.

**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, which we apply to all owners of the policy without exception. (See "THE POLICIES–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

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

A 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 "THE POLICIES–Limits on Transfers" for more information on the risks of frequent trading.)

**Change in Fees and Charges Risk.** Deduction of policy fees and charges (including surrender charges), and optional benefit fees, may result in loss of principal. We reserve the right to increase the fees and charges under the policy and optional benefits up to the maximum guaranteed fees and charges stated on your Policy Data Page.

The amount of premium-based M&E Charges assessed to your policy will be unaffected by fluctuations in market performance. In a rising market, the premium-based M&E Charge structure will benefit the policyowner because the premium-based M&E Charge, when calculated as a percentage of separate account assets, will be reduced. In a flat or declining market, the premium-based M&E Charge structure will result in an increase in the charge when calculated against separate account assets. The amount of Accumulation Value-based M&E Charges assessed to your policy will be affected by fluctuations in market performance. However, the Accumulation Value-based M&E Charge structure may be more advantageous in a flat or declining market and disadvantageous in a rising market.

**Change in Rates Risk.**The rate we declare for the Fixed Account may be lower than you would find acceptable. The crediting rate that we declare for the DCA Advantage Account may be lower than what you would find acceptable.

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**Adverse Tax Consequences.** There are a number of tax risks that may arise in connection with purchasing the policy. These risks include: (1) the possibility that the Internal Revenue Service ("IRS") may interpret the rules that apply to variable annuities 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 an annuity for federal tax purposes resulting in the loss of favorable tax treatment accorded your policy; and (3) the possibility of a change in the present federal income tax laws that apply to your policy, or of the current interpretations by the IRS, which may change from time to time without notice, and could have retroactive effects regardless of the date of enactment or publication, as the case may be.

**Insurance Company Risks.** Any obligations (including those of the Fixed Account), guarantees, and benefits of the policy are subject to the claims-paying ability of NYLIAC. If NYLIAC experiences financial distress, it may not be able to meet its obligations to you. More information about NYLIAC is available upon request from NYLIAC by calling the VPSC at 1-800-598-2019.

**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, cyberattack/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 "ADDITIONAL INFORMATION ABOUT RISKS (Non-Principal Risks)" for more information.)

**Contacting NYLIAC**

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***Where do I send written service requests?***

Certain service requests, including but not limited to death benefit claims and surrenders, are required to be in writing.

All written service requests (except for subsequent premium payments and loan repayments) must be sent to the NYLIAC Variable Products Service Center ("VPSC") at one of the following addresses:

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| | | |
|:---|:---|:---|
|  | **Regular Mail** | **Express Mail** |
|  | NYLIAC Variable Products Service Center<br> Madison Square Station<br> P.O. Box 922<br> New York, NY 10159<br>| &nbsp;&nbsp; NYLIAC Variable Products Service Center<br> 51 Madison Avenue<br> Floor 3B, Room 0304<br> New York, NY 10010<br>|
| **Death Claim forms may** <br> **also be submitted to** | **Regular Mail** |  |
| **Death Claim forms may** <br> **also be submitted to** | New York Life<br> P.O. Box 130539<br> Dallas, TX 75313–0539<br>|  |

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Subsequent premium payments and loan repayments should be sent to the VPSC at one of the following addresses **(acceptance of subsequent premium payments is subject to our Sales Standards):** 

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| | | |
|:---|:---|:---|
|  | **Regular Mail** | **Express Mail** |
| **Subsequent Premium** <br> **Payments and loan** <br> **repayments**<br>| NYLIAC<br> 75 Remittance Drive<br> Suite 3021<br> Chicago, IL 60675–3021<br>| &nbsp;&nbsp; NYLIAC<br> 5450 N Cumberland Avenue<br> Suite 100<br> Chicago, IL 60656-1422<br>|

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Written service requests will be effective as of the Business Day they are received in Good Order at the VPSC at one of the addresses listed above.

Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion. All service requests must be in Good Order. Please review all service request forms carefully and provide

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all required information that is applicable to the transaction. If your request is not in Good Order, we will not process it. We will make every reasonable attempt to notify you in writing of this situation. It is important that you inform NYLIAC of an address change so that you can receive important policy statements and other information.

***How do I contact NYLIAC or Submit Service Requests by Telephone or Online?***

&nbsp;&nbsp;&nbsp;&nbsp;***a. By Telephone:***

Certain service requests, including but not limited to obtaining current unit values may be made by telephone. You may reach our customer service representatives at 1-800-598-2019 on Business Days between the hours of 9:00 a.m. and 6:00 p.m. (Eastern Time).

&nbsp;&nbsp;&nbsp;&nbsp;***b. Online:***

Certain service requests, including but not limited to, transferring assets between Allocation Options and e-mailing the Registered Representative, may be made online. For online requests please visit www.newyorklife.com or the New York Life Mobile Application ("mobile application" or "mobile app"), available for download on the Apple App Store and Google Play Store, and enter your username and password. (See "THE POLICIES—Online Service at www.newyorklife.com and through the New York Life Mobile Application").

We make online services available at our discretion. In addition, availability of online services may be interrupted temporarily at certain times. We do not assume responsibility for any loss if the online service should become unavailable. E-mail inquiries that are non-transactional may be sent through www.newyorklife.com or the mobile application once they have passed all security protocols to identify the policyowner.

NYLIAC is not liable for any loss, cost or expense for action on instructions from authorized third parties which are believed to be genuine in accordance with our procedures. (See "THE POLICIES*—*Third Party and Registered Representative Actions"). You are responsible for and bear the consequence of their instructions and other actions, including exceeding any limits on transfers, taken by parties acting on your behalf. Transfer requests received after the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time, or received on a non-Business Day, will be priced as of the next Business Day.

**NYLIAC And The Separate Accounts**

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***New York Life Insurance and Annuity Corporation***

The obligations under the policies (including Fixed Account and DCA Advantage Account obligations, death benefits, living benefits, or other benefits available under the policy) are obligations of NYLIAC and are subject to NYLIAC's claims-paying ability and financial strength. NYLIAC's business address is 51 Madison Avenue, New York, NY 10010.

***The Separate Accounts***

Separate Account III and Separate Account IV are segregated asset accounts we established to receive and invest premium payments paid under the policies and allocated to the Investment Divisions. The Investment Divisions, in turn, purchase shares of Portfolios.

Although the assets of the Separate Accounts belong to NYLIAC, these assets are held separately from our other assets. The Separate Accounts' assets may not be used to pay any liabilities of NYLIAC (except to the extent that assets in the Separate Accounts exceed the reserves and other liabilities of that Separate Account). The income, capital gains, and capital losses credited to, or charged against the Separate Accounts reflect the Separate Account's own investment experience and not the investment experience of NYLIAC's other assets. Therefore, the investment performance of the Separate Accounts is entirely independent of the investment performance of the Fixed Account, the DCA Advantage Account and any other separate account of NYLIAC.

NYLIAC is obligated to pay all amounts promised to investors under the policies.

Separate Account III and Separate Account IV are each divided into Investment Divisions, some of which may not be available under your policy. Premium payments allocated to the Investment Divisions are invested solely in the

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corresponding Portfolios of the relevant Fund. The Portfolios in which the Investment Divisions currently invest are listed in **APPENDIX 1A** of this Prospectus.

***The Portfolios***

The assets of each Portfolio are separate from the others, and each Portfolio has different investment objectives and policies. As a result, each 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. Accumulation Value allocated to the Investment Divisions (including the Asset Allocation) will vary based on the investment experience of the corresponding Portfolio in which the Investment Division invests. There is a risk of loss of the entire amount invested. 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.

**We offer no assurance that any of the Portfolios will attain their respective stated objectives.** 

The Portfolios also may make their shares available to certain other separate accounts funding variable life insurance policies offered by NYLIAC. This is called "mixed funding." The Portfolios also may make their shares available to separate accounts of insurance companies unaffiliated with NYLIAC. This is called "shared funding." Although we do not anticipate any inherent difficulties arising from mixed and shared funding, it is theoretically possible that, due to differences in tax treatment or other considerations, the interests of owners of various policies participating in a certain Portfolio might at some time be in conflict. In the event that any material conflicts arise from the use of the Portfolios for mixed and shared funding, we could be required to withdraw from a Portfolio. For more information about the risks of mixed and shared funding, please refer to the relevant Portfolio prospectus.

The 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 manages the NYLIM VP Funds Trust and that was a factor in its selection. Another factor that NYLIAC considers during the selection process is whether the Portfolio or an affiliate of the Fund will compensate NYLIAC for providing administrative, marketing, and support services that would otherwise be provided by the Portfolio, the Portfolio's investment adviser, or its distributor.

We may receive payments or compensation from the Portfolios or their investment advisers, or from other service providers of the Portfolios (who may be affiliates of NYLIAC) in connection with administration, distribution, and other services we provide with respect to the Portfolios and their availability through the policies. These payments may be derived, in whole or in part, from the advisory fee charged by the Portfolio and deducted from Portfolio assets and/or from "Rule 12b-1" fees charged by the Portfolio and deducted from Portfolio assets. These payments are also a factor in our selection of 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 Portfolios. Policyowners, through their indirect investment in the Portfolios, bear the costs of these fees.

The amounts we receive may be substantial, may vary by Portfolio, and may depend on how much policy value is invested in the particular 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 Portfolios held by the Investment Divisions. We also receive compensation under various 12b-1 distribution services arrangements in amounts up to 0.25% annually of the aggregate net asset value of the shares of some of the 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 ("New York Life"), 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.

The Portfolios, along with their respective name, type (e.g., large cap equity fund, bond fund, asset allocation fund), investment adviser (and any sub-adviser(s)), current expenses, and performance are listed in **APPENDIX 1A**. More detailed information about the Portfolios is available in the prospectuses for the Portfolios, which may be amended

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from time to time and can be found online at https://dfinview.com/NewYorkLife/TAHD/premierplus-ii. You can also request this information at no cost by contacting your Registered Representative, calling the VPSC at 1-800-598-2019 or by sending an email with your name and mailing address to PremierPlusIIProspectus@newyorklife.com. You should read the Portfolios' prospectuses before deciding how to allocate premium payments to an Investment Division corresponding to a Portfolio.

***Asset Allocation Models***

The Asset Allocation Model program was discontinued as of May 1, 2020. As of May 1, 2020, you may not select an Asset Allocation Model or transfer from one Asset Allocation Model to another Asset Allocation Model. If any portion of your Accumulation Value is currently allocated to an Asset Allocation Model, you may continue to allocate all or a portion of your premium payments to such model. We will not reallocate your Accumulation Value or change your premium allocation instructions in response to these changes unless you direct us to do so. If, however, you transfer your entire allocation out of an Asset Allocation Model, you will not be able to transfer back into that model or transfer to any other Asset Allocation Model.

***Information for Policyowners Currently Allocated to an Asset Allocation Model***

Each Asset Allocation Model was designed to seek to achieve a different investment objective. The Asset Allocation Models are general in nature and are not tailored or personalized for you. The Asset Allocation Models are static but gains and/or losses from the Portfolios in a model will cause the model's original percentages to shift. However, amounts allocated to a model will be rebalanced to reflect the model's original percentages using the policy's Automatic Asset Rebalancing ("AAR") feature, unless you opted not to have AAR applied to your policy. (See "DESCRIPTION OF BENEFITS*—*Automatic Asset Rebalancing" for more information.) If you purchased the IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0, and have opted to allocate your premium payments to one of the available Asset Allocation Models, you cannot opt out of rebalancing, and your allocations to an Asset Allocation Model will be rebalanced quarterly to reflect the model's original percentages.

In addition, the Investment Divisions and allocation percentages for your model could change due to events such as mergers, substitutions, liquidations or closures. We will notify you in writing of any such events and seek your instructions on how you want your Accumulation Value or premium payments reallocated.

If you wish to keep your policy's Accumulation Value allocated to an Asset Allocation Model, you should consult with your registered representative, who can help you evaluate whether it continues to be suitable and appropriate for you in light of your financial situation, risk tolerance, time horizon and investment objectives. While the Asset Allocation Models can facilitate asset allocation discussions and decisions between you and your registered representative, we have no discretionary authority or control over your investment decisions.

Rebalancing can cause the Investment Divisions that make up a model to need to undertake efforts to raise cash for money flowing out of the Portfolios or vice versa. In order to raise cash, those Portfolios may need to sell assets at prices lower than otherwise expected, which can hurt Portfolio share prices. Moreover, large outflows of money from the Portfolios may increase the expenses attributable to the assets remaining in the Portfolios. These transactions and expenses can adversely affect the performance of the relevant Portfolios and of the Asset Allocation Models. In addition, these inflows and outflows may cause a Portfolio to hold a large portion of its assets in cash, which could detract from the achievement of the Portfolio's investment objective, particularly in periods of rising market prices. For additional information regarding the risks of investing in a particular Portfolio, see that Portfolio's prospectus.

Asset allocation does not guarantee that your Accumulation Value will increase or protect against losses in a declining market. Tools used to assess your risk tolerance, such as the Client Profile, could be less effective if your circumstances change over time. In addition, an Asset Allocation Model may not perform as intended. Therefore, it may not achieve its investment objective or reduce volatility. When considering whether to remain in an Asset Allocation Model, you should consider your other assets, income and investments in addition to this policy. An Asset Allocation Model may perform better or worse than any single investment option or any other combination of investment options. In addition, the timing of your investment and any rebalancing may affect performance. For additional information regarding the risks of investing in a particular Portfolio within the Asset Allocation Model, see that Portfolio's prospectus.

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***Conflicts of Interest Relating to the Asset Allocation Models***

The Asset Allocation Models were designed in 2018 on our behalf by an unaffiliated third-party investment adviser, Franklin Templeton Fund Adviser, LLC ("FTFA"), an indirect, wholly-owned subsidiary of Franklin Resources, Inc. ("Franklin Resources"). FTFA's affiliated subadviser, Franklin Advisers, Inc. (successor by merger to QS Investors, LLC ("QS")), selected the initial composition of each Model Portfolio. The models are referred to herein as the "QS Models." The QS Models are no longer available for new investment. Earlier versions of the models were designed by New York Life Investment Management LLC, an affiliate of NYLIAC and the Investment Advisor to the NYLIM VP Funds Trust (the "NYL Models"). You can get information about each of the Asset Allocation Models by contacting your registered representative.

QS received a fee from NYLIAC to design the QS Models. While the QS Models were designed to offer you a convenient way to work with your registered representative in making allocation decisions, you should be aware that QS was subject to competing interests that may have influenced its design of the QS Models. For example, because QS and FTFA were affiliated with the LVIP ClearBridge Appreciation Fund, QS and FTFA may have benefited from including the LVIP ClearBridge Appreciation Fund in one or more of the QS Models. Payments from NYLIAC to FTFA and QS to design the QS Models may have also influenced QS in its selection of Investment Divisions affiliated with NYLIAC for inclusion in the models. QS considered many factors in selecting Investment Divisions for the QS Models, including, but not limited to, risk and return profile, prior investment performance and underlying fund fees.

New York Life Investment Management LLC ("New York Life Investments") was also subject to competing interests that impacted the composition of the QS Models as well as its design of the NYL Models. For example, because New York Life Investments receives fees for advising the NYLIM VP Funds Trust, it benefits from the inclusion of a significant percentage of these Investment Divisions in the QS Models and NYL Models. NYLIM VP Investment Divisions represent such a significant percentage of the QS Models and the NYL Models because they constitute the majority of Investment Divisions offered with the policy and are prevalent among the low – and moderate – risk Investment Divisions that make up those models.

In addition, New York Life Investments may not have included certain non-proprietary Investment Divisions in the NYL Models because their investment profile (e.g., sector-specific concentration or shifting asset composition) was determined to be incompatible with the risk and return profile of those models. Finally, New York Life Investments may have included Investment Divisions in a NYL Model based on asset class exposure and they may have also been selected over Investment Divisions with better past investment performance or lower fees.

As noted above, we receive payments or compensation from the Portfolios or their Investment Advisers, or from other service providers of the Portfolios (who may be affiliates of NYLIAC) in connection with administration, distribution and other services that we provide with respect to the Portfolios and their availability through the policies. The amount of this revenue and how it is computed varies by Portfolio, may be significant, and may create conflicts of interest in the design of the QS Models and the NYL Models.

NYLIAC does not provide investment advice and does not recommend or endorse any Portfolios. NYLIAC is not responsible for choosing the Investment Divisions or the amounts allocated to each. 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.

Certain portfolios, generally referred to as "funds of funds" or "master-feeder arrangements," may invest all or substantially all their assets in portfolios of other funds. In such case, you will indirectly pay fees and expenses at both portfolio 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 cost of these strategies could limit the upside participation of the portfolio in rising equity markets relative to other portfolios.

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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.

Investment decisions should be based on a thorough investigation of all the information regarding the Portfolios that are available to you, including each Portfolio's prospectus, statement of additional information, and annual and semi-annual reports. Other sources, such as the Portfolio's website, provide more current information, including information about any regulatory actions or investigations relating to a Fund or Portfolio. After you select Portfolios for your initial premium, you should monitor and periodically re-evaluate your allocations to determine if they are still appropriate.

***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 can impose these fees, but government money market funds (that invest at least 99.5% of their assets in cash, U.S. government securities and/or repurchase agreements that are secured by cash or 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, surrenders, withdrawals and benefit payments from the portfolio.

***The Franklin Templeton Model Portfolios – Conflicts of Interest***

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"). FTFA, an indirect wholly-owned subsidiary of Franklin Resources, Inc., created the Model Portfolios for the exclusive use of NYLIAC's variable annuity and variable life insurance policyowners. 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 primarily of the initial class or similar shares of the Portfolios available under your policy (except for (i) Portfolios that are themselves, funds of funds, and (ii) Portfolios that did not agree to sell their shares to the Model Portfolios). However, the Model Portfolios may also invest in noninsurance-dedicated mutual funds and ETFs.

FTFA's affiliated subadviser, Franklin Advisers, Inc. ("Franklin Advisers"), selected the initial composition of each Model Portfolio. Thereafter, Franklin Advisers manages 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 Portfolios available under your policy, the composition of the Underlying Funds available to the Model Portfolios for investment will likewise change. FTFA and Franklin Advisers 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 Franklin Advisers. 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 Franklin Advisers, Franklin Distributors, LLC ("Franklin Distributors"), 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 from Franklin Distributors, 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

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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 Portfolios held directly by the NYLIAC Separate Accounts. (See "NYLIAC AND THE SEPARATE ACCOUNTS*—*The Portfolios" for more information about these payments).

The payments described above are a factor in our selection of the Portfolios, which in turn, are available to the Model Portfolios for investment. Policyowners, through their direct investment in the Model Portfolios and their indirect investment in the Underlying Funds, bear the costs of these fees. However, only FTFA and Franklin Advisers will determine the portion of the Model Portfolios' assets, if any, that are invested in particular Underlying Funds. FTFA and Franklin Advisers 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 unaffiliated Underlying Funds and NYLIAC.

FTFA and Franklin Advisers are also subject to competing interests that may influence their investment decisions with respect to the Model Portfolios. For example, FTFA is the investment manager for both the Model Portfolios and certain of the available Underlying Funds, and receives a management fee from those funds. FTFA and Franklin Advisers, 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 Underlying Fund, may be significant, and may create conflicts of interest in the selection of the Portfolios that are available to the Model Portfolios for investment.

***Additions, Deletions, or Substitutions of Investments***

NYLIAC retains the right, subject to any applicable law (including any required regulatory approval), to make additions to, deletions from, or substitutions for the Portfolio shares held by any Investment Division. NYLIAC reserves the right to eliminate the shares of any of the Portfolios and to substitute shares of another portfolio of a Fund, or of another registered open-end management investment company.

To the extent required by law, we will not make substitutions of shares attributable to your interest in an Investment Division until you have been notified of the change. This does not prevent the Separate Account from purchasing other securities for other series or classes of policies, or from processing a conversion between series or classes of policies on the basis of requests made by policyowners.

We may establish new Investment Divisions when we determine, in our sole discretion, that marketing, tax, investment, or other conditions so warrant. We will make any new Investment Divisions available to existing policyowners on a basis we determine. We may also eliminate one or more Investment Divisions, if we determine, in our sole discretion, that marketing, tax, investment, or other conditions warrant. Please note that any such changes could affect the performance of your investments.

In the event of any substitution or change in Investment Divisions, NYLIAC may, by appropriate endorsement, change the policies to reflect such substitution or change. We also reserve the right to: (a) operate the Separate Account as a management company under the Investment Company Act of 1940, (b) deregister it under such Act in the event such registration is no longer required, (c) combine it with one or more other separate accounts, and (d) restrict or eliminate the voting rights of persons having voting rights as to the Separate Account as permitted by law.

***Reinvestment***

We automatically reinvest all dividends and capital gain distributions from Portfolios in shares of the distributing Portfolio at their net asset value on the payable date.

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**The Policies**

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This is a flexible premium policy, which means additional premium payments can be made. The policy is issued based on the lives of individual Annuitants.

The policies are variable. This means that the Accumulation Value will fluctuate based on the investment experience of the Investment Divisions or available Asset Allocation Model you select, as well as the interest credited on the Fixed Account Accumulation Value and the DCA Advantage Account Accumulation Value. NYLIAC does not guarantee the investment performance of the Separate Account or of the Portfolios. You bear the entire investment risk with respect to amounts allocated to the Investment Divisions of the Separate Account or an Asset Allocation Model. We offer no assurance that the investment objectives of the Investment Divisions or an Asset Allocation Model will be achieved. Accordingly, amounts allocated to the Investment Divisions of the Separate Account or an Asset Allocation Model are subject to the risks inherent in the securities markets and, specifically, to price fluctuations in the Portfolios' investments.

As the Owner of the policy, you have the right to (a) change a revocable Beneficiary, (b) name a new Owner (on Non-Qualified Policies only), (c) receive Income Payments, (d) name a Payee to receive Income Payments, and (e) transfer funds among the Investment Divisions. You cannot lose these rights. However, all rights of ownership cease upon your death. For Inherited IRA policies, Inherited Roth IRA policies and Inherited Non-Qualified policies, ownership changes are not permitted.

The current policyowner of a Non-Qualified Policy (other than an Inherited Non-Qualified policy) has the right to transfer ownership to another person(s) or entity. To transfer ownership, the policyowner must complete our approved "Transfer of Ownership" form in effect at the time of the request. This change, unless otherwise specified by you, will take effect as of the date you signed the form, subject to any payment we made or action we took before we received the form in Good Order. When this change takes effect, all rights of ownership in the Policy will pass to the new Owner. Changing the Owner of the Policy does not change an Annuitant or any Beneficiary. Federal law requires all financial institutions to obtain, verify, and record information that identifies each person or entity that becomes the Owner of an existing policy. This means the new policyowner(s) will be required to provide their name, address, date of birth, and other identifying information. To complete a transfer of ownership, the new policyowner(s) may also be required to submit financial and suitability information to conform to our Sales Standards.

Certain provisions of the policies may be different than the general description in this Prospectus, and certain riders and options may not be available, because of legal requirements or restrictions in your state. See your policy for specific variations because any such state variations will be included in your policy or in riders or endorsements attached to your policy. See also "APPENDIX 3 – State Variations" for specific information that may be applicable for your state.

***Selecting the Variable Annuity That's Right for You***

In addition to the policies described in this Prospectus, we offer other variable annuities, each having different features, fees, and charges. Your registered representative can help you decide which is best for you based on your individual circumstances, time horizon, and policy feature preferences.

The availability of optional policy features may increase the cost of the policy. Therefore, when selecting a policy, you should consider what policy features you plan to use within your variable annuity. You should also consider the different surrender charge period associated with each policy in light of the length of time you plan to hold your policy (i.e., your time horizon). If you intend to make multiple contributions to your policy over time, you may want to consider a surrender charge period that is based on the Policy Date. If you intend to make a single contribution or limited contributions over time, you may want to consider a policy with a surrender charge period that is based on each premium payment. In addition to the surrender charges, you should also evaluate the available policy features and the different fees associated with each of the features and of the policy.

If you are considering exchanging an annuity or life insurance policy that you already own for a policy described in this Prospectus, you should be aware that your registered representative could have a financial incentive to offer you a new policy in place of the one you own. NYLIAC has procedures in place designed to ensure that the purchase of a policy is in your best interest. You should only exchange your policy if you determine, after comparing the features,

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fees, risks of both policies, and any fees or penalties to terminate the existing policy, that it is better for you to purchase the new policy rather than continue to own your existing policy.

You should consider the investment objectives, risks, charges and expenses of an investment carefully before investing. Both the product and underlying fund prospectuses contain this and other information about the variable annuities and underlying investment options. Your registered representative can provide you with prospectuses for one or more of these variable annuities and the underlying funds. Please read the prospectuses carefully before investing.

***Qualified and Non-Qualified Policies***

We designed the policies primarily for the accumulation of retirement savings, and to provide income at a future date by annuitizing the policy or purchasing future income through the Future Income Rider, if available (See "DESCRIPTION OF BENEFITS - The Future Income Rider" below, for more information). We issue both Qualified and Non-Qualified Policies. Both types of policies offer tax-deferred accumulation. You may purchase a Non-Qualified Policy to provide for retirement income other than through a tax-qualified plan. You may purchase a Qualified Policy for use with any one of the tax-qualified plans listed below. Other tax-qualified plan types may be made available in the future. For more information, contact your registered representative.

&nbsp;&nbsp;&nbsp;&nbsp;(1) TSAs purchased by employees of certain tax–exempt organizations and certain state–supported educational institutions, in each case in accordance with the employer's plan document and/or applicable tax requirements (see "FEDERAL TAX MATTERS—Qualified Policies—Important Information Regarding Final Code Section 403(b) Regulations"). We are no longer accepting contributions or issuing new policies for ERISA 403(b) plans;

&nbsp;&nbsp;&nbsp;&nbsp;(2) Section 408 or 408A Individual Retirement Annuities (IRAs), including: IRAs, Roth IRAs, Inherited IRAs, Inherited Roth IRAs, SEP and SIMPLE IRAs.

Please see "FEDERAL TAX MATTERS" for a detailed description of these plans.

If you are considering the purchase of a Qualified Policy or a Non–Qualified Policy to fund another type of tax– qualified retirement plan, such as a plan qualifying under Section 401(a) of the Code, you should be aware that this policy will fund a retirement plan that already provides tax deferral under the Code and there are fees and charges in an annuity that may not be included in other types of investments. Therefore, the tax deferral of the annuity does not provide additional benefits. However, this annuity is designed to provide certain payment guarantees and features other than tax deferral, some of which may not be available in other investments. These additional features and benefits include:

&nbsp;&nbsp;&nbsp;&nbsp;• A Standard Death Benefit, as explained in this Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;• The option for you to receive a guaranteed stream of Income Payments for life after you have owned the policy for one year.

&nbsp;&nbsp;&nbsp;&nbsp;• The option to purchase a future income stream through a Future Income Rider, (not available for applications signed on or after May 1, 2017).

&nbsp;&nbsp;&nbsp;&nbsp;• A Fixed Account that features a guaranteed fixed interest rate.

&nbsp;&nbsp;&nbsp;&nbsp;• An optional Interest Sweep feature that automatically transfers interest earned on monies in the Fixed Account to Investment Divisions offered under the policy.

&nbsp;&nbsp;&nbsp;&nbsp;• The flexibility to easily transfer money among Investment Divisions in the annuity managed by different investment managers and to have your investment mix automatically rebalanced periodically.

These features are explained in detail in this Prospectus. You should purchase this annuity with tax–qualified money because of the additional features the annuity provides and not for the tax deferral to which the tax–qualified plan is already entitled. You should consult with your tax or legal adviser to determine if the policy is suitable for your tax qualified plan. See APPENDIX 2 for more information about when the policy can be issued under certain types of qualified plans.

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***Policy Application and Premium Payments***

To purchase a policy, you must complete an application. Your registered representative will submit your application, along with your initial premium payment, to us at one of our Service Centers (see "CONTACTING NYLIAC"). If the application is in Good Order, we will credit the initial premium payment to the Allocation Options you have selected within two Business Days after we receive it. If we cannot credit the initial premium payment within five Business Days after we receive it because the application is not in Good Order, we will contact you and explain the reason for the delay. Unless you consent to NYLIAC's retaining the initial premium payment and crediting it as soon as the necessary requirements are fulfilled, we will refund the initial premium payment immediately; however, if you paid the initial premium by check, we can delay that refund payment until your check has cleared.

Acceptance of applications is subject to NYLIAC's rules. We reserve the right to reject any application or initial premium payment. Generally, only one policyowner is named. If we issue a jointly owned policy, ownership rights and privileges under the policy must be exercised jointly and benefits under the policy will be paid upon the death of any joint owner. **Acceptance of premium payments is subject to our Sales Standards.** 

You may allocate premium payments in up to 18 of the Investment Divisions, some of which may not be available under your policy, as well as the DCA Advantage Account and the Fixed Account. If in Good Order, we will credit subsequent premium payments to the policy at the close of the Business Day on which they are received by NYLIAC. You may increase or decrease the percentages of the premium payments (which must be in whole number percentages) allocated to each Allocation Option or the DCA Advantage Account at the time a premium payment is made.

If your application is not in Good Order, we will contact you to get the missing information. We will not issue your policy until your application is in Good Order and you give us complete instructions about how to allocate your premium payment, including information about how to allocate the premium payment among the Allocation Options. We will apply any later premium payments according to the allocation instructions we have on file at the time of the premium payment.

Unless we permit otherwise, the minimum initial premium payment is $5,000 ($10,000 for policies issued in connection with a Pension/Keogh plan). You may make additional premium payments of at least $2,500 for Qualified Policies and $5,000 for Non-Qualified Policies, or such lower amount as we may permit at any time. Additional premium payments can be made until you reach age 76. The currently available methods of payment are direct payments to NYLIAC or any other method agreed to by us. The maximum aggregate amount of premium payments we accept is $2,000,000 without prior approval from NYLIAC. NYLIAC reserves the right to limit the dollar amount of any premium payment. You must allocate a minimum of $2,000 to the DCA Advantage Account.

For Qualified Policies, you may not make premium payments in any Policy Year that exceed the amount permitted by the plan or applicable law. For Inherited IRAs, Inherited Roth IRAs and Inherited Non-Qualified policies, additional premium payments are not permitted.

While IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 are in effect, you may only make premium payments to your policy in the first Policy Year or after the Holding Period End Date, as applicable.

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

Minimum premium payments may be different if you select the IPR 5.0.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) For policies whose M&E Charges are based on Accumulation Value, if you elect the IPR 5.0, you may only select the 12- or 13-year Holding Period and your minimum initial premium payment is $500,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) For policies whose M&E Charges are based on Premium Payments, if you elect the IPR 5.0 and choose the 20-year Holding Period, your minimum initial premium payment is $500,000. If you elect any other Holding Period, your minimum initial premium payment is $5,000.

We reserve the right to reject any application. Regarding the minimum premium payments set forth in conditions (i) and (ii) above, if you are exchanging more than one annuity policy or life insurance policy for one of the policies, or if your premium payment will be paid from different sources (e.g., personal check and proceeds from a brokerage account), we will allow the proceeds to be used as the premium payment for the policy, provided they are received within 150 days of the date the policy is issued. When you are purchasing a policy by exchanging another annuity

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contract or life insurance policy, or if your premium payment will be paid from different sources, your policy will be issued on the date we first receive proceeds from your existing annuity contract or life insurance policy, or from any other source. The date we issue your policy is the Policy Date. We reserve the right to revoke the policy if proceeds from all of the exchanged annuity contracts or life insurance policies or other different sources do not equal a minimum of $500,000 in aggregate, as required by the conditions set forth in (i) and (ii) above.

***Accumulation (Savings) Phase***

*Crediting of Premium Payments*

When you purchase your policy, you tell us how to allocate your premium payments. You can allocate a portion of each premium payment to one or more Investment Divisions, one Asset Allocation Model (if you are already allocated to such Model), the DCA Advantage Account, and/or the Fixed Account (if available). The minimum amount that you may allocate to any one Investment Division or the Fixed Account is $25. The minimum amount that you can allocate to an available Asset Allocation Model is $25 per Investment Division. You may also allocate all or a portion of each premium payment to the DCA Advantage Account. The minimum amount that you may allocate to the DCA Advantage Account is $2,000. If you select the DCA Advantage Account, any additional premium payment you make that is $2,000 or more will be allocated automatically to the DCA Advantage Account unless you instruct us otherwise. Any additional premium payment you make that is less than $2,000 will be allocated directly to your Allocation Options in accordance with the instructions we have on file and will not be allocated to the DCA Advantage Account. (See "THE DCA ADVANTAGE ACCOUNT.") We will allocate additional premium payments to the Allocation Options and/or the DCA Advantage Account at the close of the Business Day on which they are received by NYLIAC in Good Order. We will apply Premium Credits to the same Allocation Options and/or DCA Advantage Account based on the same percentages used to allocate your premium payments.

We will credit that portion of each premium payment that you allocate (and any Premium Credit) to an Investment Division (or to each of the Investment Divisions that make up an Asset Allocation Model), including from a premium payment or transfer, in the form of Accumulation Units. We cancel such Accumulation Units when we remove amounts from that Investment Division, including as a result of a withdrawal, transfer, policy surrender, and certain charges we may deduct. We determine the number of Accumulation Units we credit to a policy or cancel by dividing the dollar amount allocated to or removed from each Investment Division by the Accumulation Unit value for that Investment Division as of the close of the Business Day as of which we are making the credit or removal. The value of an Accumulation Unit will increase or decrease depending on the investment experience of the Portfolio in which the Investment Division invests (including Portfolio expenses), and the deduction of the Accumulation Value–based M&E Charge. We assess all policy and rider fees and charges applicable to Separate Account assets (other than Accumulation Value–based M&E Charges) by reducing the number of Accumulation Units credited to your policy. The number of Accumulation Units we credit to a policy will not, however, change as a result of any fluctuations in the value of an Accumulation Unit. (See "THE FIXED ACCOUNT" for a description of interest crediting.)

*Valuation of Accumulation Units*

The value of Accumulation Units in each Investment Division will change daily to reflect the investment experience of the corresponding Portfolio (including Portfolio expenses) as well as the deduction of the Accumulation Value–based M&E Charge. The Statement of Additional Information contains a detailed description of how we determine the Accumulation Unit values.

***Tax-Free Section 1035 Exchanges***

Subject to certain restrictions, you can make a tax-free exchange under Section 1035 of the Code of all or a portion of one annuity contract, or all of a life insurance policy for an annuity contract. Section 1035 also provides that an annuity contract may be exchanged in a tax-free transaction for a long-term care insurance policy. Before making an exchange, you should compare both contracts carefully. Remember that if you exchange a life insurance policy or annuity contract for the policy described in this Prospectus:

&nbsp;&nbsp;&nbsp;&nbsp;● you might have to pay a withdrawal charge on your previous policy or contract,

&nbsp;&nbsp;&nbsp;&nbsp;● there will be a new withdrawal charge period for this policy,

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

&nbsp;&nbsp;&nbsp;&nbsp;● other charges under this policy may be higher (or lower),

&nbsp;&nbsp;&nbsp;&nbsp;● the benefits may be different,

&nbsp;&nbsp;&nbsp;&nbsp;● you will no longer have access to any benefits from your previous policy (or the benefits may be different), and

&nbsp;&nbsp;&nbsp;&nbsp;● access to your cash value following a partial exchange may be subject to tax-related limitations.

If the exchange does not qualify for Section 1035 treatment, you also may have to pay federal income tax, including a 10% federal penalty tax, on the exchange. You should not exchange an existing life insurance policy or another annuity contract for this policy unless you determine that the exchange is in your best interest. NYLIAC may accept electronically transmitted instructions from your registered representative or from another insurance carrier for the purpose of effecting a 1035 exchange. **If you contemplate such an exchange, you should consult a tax advisor to discuss the potential tax effects of such a transaction.**

***Premium Credit***

We will apply a Premium Credit to your Accumulation Value at the time each premium payment is made. The Premium Credit is calculated as a percentage of each premium payment. The percentage will depend on the Premium Credit Rate schedule then in effect, and will never be less than 2.00%. The Premium Credit Rate applicable to a premium payment varies, depending on the total amount of premium payments received under the policy ("Total Accumulated Premiums"). Withdrawals will not reduce Total Accumulated Premiums. In addition, if we receive more than one premium payment within 180 days of the Policy Date, we will adjust the Premium Credits applied to such payments using the Premium Credit Rate applicable to the later payment(s) made during that period. We will apply any additional Premium Credit amounts resulting from such adjustments as of the date we receive the later premium payment.

As of the date of this Prospectus, the Premium Credit Rate schedule is as follows:

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| | |
|:---|:---|
| **Total Accumulated Premiums** | **Credit Rate** |
| $499,999 or less | 3.00% |
| $500,000 or greater\* | 4.00% |

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\*

Total Accumulated Premiums in excess of the amount set forth on the Policy Data Page are subject to prior approval. (See "THE POLICIES – Policy Application and Premium Payments.")

You may qualify for the 4% Premium Credit Rate even if your initial premium payment is less than $500,000, if you and up to four of your immediate family members purchase a New York Life Premier Plus Variable Annuity II policy at the same time or if you purchase one or more other New York Life Premier Plus Variable Annuity II policies yourself at the same time, and the aggregate premium paid on all of the policies is at least $1,000,000. In order to aggregate premiums among immediate family members or multiple policies that you purchase, you must, before purchasing the policy, inform your registered representative that you have policies that can be aggregated. NYLIAC reserves the right to reject any request for aggregation of policies.

With notice to you, in our sole discretion, we may change both the Premium Credit Rates and the Total Accumulated Premium ranges applicable to future premium payments under your policy. Subsequent premium payments will receive the Premium Credit Rate then in effect for the applicable range. In setting the Premium Credit Rates and associated ranges, NYLIAC will consider fixed and variable expenses incurred in policy issue, servicing and maintenance, the average length of time that policies issued remain in force along with the mortality experience of those policies, and NYLIAC's competitive position in the marketplace.

We will deduct the amount of the Premium Credit from the amount returned to you if you cancel your policy. (See "THE POLICIES–Your Right to Cancel ("Free Look").") We may also deduct from the death benefit proceeds any Premium Credit applied within the 12 months immediately preceding the date of death of the Owner or Annuitant, if applicable. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement").

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Premium Credits are allocated to the same Allocation Options based on the same percentages used to allocate your premium payments. We do not consider Premium Credits to be premium payments for purposes of any discussion in this Prospectus. Premium Credits are also not considered to be your investment in the policy for tax purposes.

Fees and charges for a policy with a Premium Credit may be higher than those for other policies. For example, we use a portion of the surrender charge and Mortality and Expense Risk and Administrative Costs charge to help recover the cost of providing the Premium Credit under the policy. (See "THE POLICIES–Selecting the Variable Annuity That's Right for You"). Over time, the amount of the Premium Credit may be more than offset by those higher charges. We expect to make a profit from those charges.

There may be circumstances in which the purchase of a New York Life Premier Plus Variable Annuity II is less advantageous than the purchase of another New York Life variable annuity which might have lower fees but no Premium Credit. This may be the case, for example, if you intend to make fewer and/or smaller premium payments into the policy, or if you anticipate retaining the policy for a significant time beyond the Surrender Charge Period. Under certain circumstances (such as a period of poor market performance), the fees and charges associated with the Premium Credit may exceed the sum of the Premium Credit and any related earnings. You should consider this possibility before purchasing the policy.

***Your Right to Cancel ("Free Look")***

You can cancel the policy within 10 days of delivery of the policy or such longer period as required under state law. To cancel your policy, you must return it and/or provide a written request for cancellation to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it. Unless otherwise required by state law, you will receive back your Accumulation Value, calculated as of the Business Day we receive your written request for cancellation in Good Order, less any Premium Credit(s), less any e-delivery credit, (see "THE POLICIES – Electronic Delivery"), but without any deduction for premium taxes or a surrender charge. This amount may be more or less than your premium payments depending upon the performance of the Allocation Options you have chosen to invest in during the Free Look period (including any interest credited by the Fixed Account, if applicable). This means that you bear the risk of any decline in the value of your policy due to investment performance during the Free Look period. In certain states, we are required to give you back your premium payments less any prior partial withdrawals. We will set forth the provision in your policy. See APPENDIX 3 — State Variations for more information about free look provisions in California, Florida, New York and North Dakota.

If you are entitled to receive the total of premium payments less any prior withdrawals as required, but your Accumulation Value is higher than that amount as of the date your written request for cancellation is received in Good Order, we will return the Accumulation Value, calculated as set forth above and without deductions for premium taxes or surrender charges.

***Issue Ages***

To purchase a Non–Qualified Policy you must not be older than age 75 (oldest Owner, if the policy is jointly owned). We will accept additional premium payments until 12 months after you reach age 75. The Owner, or if the policy is owned by an entity, the Annuitant must not be older than 75 (oldest Annuitant, if the policy has joint Annuitants). For Inherited Non–Qualified policies, the Owner and the Annuitant must be the same individual.

For IRA, Roth IRA, Inherited IRA, Inherited Roth IRA, SIMPLE IRA, TSA and SEP plans, you must also be the Annuitant. We can issue Qualified Policies if you are between the ages of 18 and 75 (between 0-80 for Inherited IRAs and Inherited Roth IRAs). We will accept additional premium payments until 12 months after you reach age 75, unless otherwise limited by the terms of a particular plan.

To qualify for the above referenced maximum age limits to purchase a policy, the policy application must be signed and received at the VPSC prior to the day the Owner, or if the policy is owned by an entity, the Annuitant becomes age 76. In addition, all funds must be received by VPSC no later than 60 days from the date the Owner or Annuitant, as applicable, becomes age 76, whichever occurs first. Any funds received after such time will be returned.

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***Transfers***

You may transfer amounts among Investment Divisions of the Separate Account, an Asset Allocation Model if you are already allocated to such model, or to the Fixed Account any time prior to 30 days before the Annuity Commencement Date, although certain restrictions may apply with respect to transfers into the Fixed Account if you have chosen premium-based Base Contract charges, or if you have an investment preservation rider. You may not make transfers into the DCA Advantage Account. If you transfer all of your Accumulation Value out of an Asset Allocation Model, you cannot transfer back into that Asset Allocation Model in the future. Transfers made from the DCA Advantage Account to the Investment Divisions are subject to different limitations (See "THE DCA ADVANTAGE ACCOUNT"). No transfers are allowed from the DCA Advantage Account to the Fixed Account. Except in connection with transfers made pursuant to traditional Dollar Cost Averaging, Automatic Asset Rebalancing, Interest Sweep and the DCA Advantage Account, the minimum amount that you may transfer from one Investment Division to other Investment Divisions, an available Asset Allocation Model or to the Fixed Account is $500. Except for traditional Dollar Cost Averaging, Automatic Asset Rebalancing, Interest Sweep and the DCA Advantage Account, if the value of the remaining Accumulation Units in an Investment Division would be less than $500 or the Fixed Account would be less than $25 after you make a transfer, we will transfer the entire value unless NYLIAC in its discretion determines otherwise. The amount(s) transferred to other Investment Divisions must be a minimum of $25 for each Investment Division.

Currently, we do not charge for transfers under the policy. However, we reserve the right to charge up to $30 for each transfer after the first 12 in a given Policy Year, subject to any applicable state insurance law requirements. Any transfer into or out of an available Asset Allocation Model counts as one transfer. Any transfer made in connection with traditional Dollar Cost Averaging, Automatic Asset Rebalancing, Interest Sweep or the DCA Advantage Account will not count as a transfer toward the twelve-transfer limit. You may make transfers from the Fixed Account to the Investment Divisions in connection with Interest Sweep and in certain other situations. (See "THE FIXED ACCOUNT").

You can request a transfer by any of the three methods listed below. Transfer requests are subject to limitations and must be made in accordance with our established procedures. (See "THE POLICIES—Online Service at www.newyorklife.com and through the New York Life Mobile Application.").

&nbsp;&nbsp;&nbsp;&nbsp;● submit your request in writing on a form we approve to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this prospectus (or any other address we indicate to you in writing);

&nbsp;&nbsp;&nbsp;&nbsp;● speak to a Customer Service Representative at 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;● make your request through www.newyorklife.com or 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. NYLIAC is not liable for any loss, cost or expense for action based on telephone or electronic instructions which are believed to be genuine in accordance with these procedures. Transfer requests received after the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time or received on a non-Business Day, will be priced as of the next Business Day.

***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; or

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

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

Currently, if you or someone acting on your behalf requests by telephone and/or electronically transfers into or out of one or more Investment Divisions or an available Asset Allocation Model on three or more days within any 60-day period, we will send you a letter notifying you that the 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 or an Asset Allocation Model 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 in writing through the U.S. mail or an overnight courier and received by the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. 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 out of the NYLIM VP U.S. Government Money Market Investment Division within six months of the issuance of a policy, and transfers made pursuant to traditional Dollar Cost Averaging, the DCA Advantage Account, Interest Sweep, and Automatic Asset Rebalancing.

**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 this 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 Portfolio. We will reject or reverse, without prior notice, any transfer request into an Investment Division if the purchase of shares in the corresponding Portfolio is not accepted by the Portfolio for any reason. For transfers into multiple Investment Divisions and/or an available Asset Allocation Model, the entire transfer request will be rejected or reversed if any part of it is not accepted by any one of the Portfolios or is restricted for any reason. Standing allocation instructions into a Portfolio 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 other 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 Portfolio. We will provide you with written notice of any transfer request we reject, reverse or modify. You should read the Portfolio prospectuses for more details regarding their ability to refuse or restrict purchases or redemptions of their shares. In addition, a Portfolio 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The underlying Portfolios may have adopted their own policies and procedures with respect to trading of their respective shares. The prospectuses for the underlying Portfolios, in effect at the time of any trade, describe any such policies and procedures. The trading policies and procedures of an underlying 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 in this prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The purchase and redemption orders received by the Portfolios reflect the aggregation and netting of multiple orders from owners of this policy and other variable policies issued by us. The nature of these

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combined orders may limit the underlying Portfolios' ability to apply their respective trading policies and procedures. In addition, if an underlying Portfolio believes that a combined order we submit may reflect one or more transfer requests from owners engaged in potentially harmful transfer activity, the underlying fund portfolio may reject the entire order and thereby prevent us from implementing any transfers that day. We do not generally expect this to happen. Alternatively, Portfolios may request information on individual policyowner transactions and may impose restrictions on individual policyowner transfer activity.

&nbsp;&nbsp;&nbsp;&nbsp;● Other insurance companies that invest in the 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 Investment Divisions correspond to the affected 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 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 a Portfolio to liquidate investments prematurely (or at an otherwise inopportune time) in order to pay withdrawals or transfers out of the 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 a Portfolio are made when, and if, the Portfolio's investments do not reflect an accurate value (sometimes referred to as "time-zone arbitrage" and "liquidity arbitrage").

***Speculative Investing***

Do not purchase the policy if you plan to use it, or any of its riders, for speculation, arbitrage, viatication or any other type of collective investment scheme. Your policy may not be traded on any stock exchange or secondary market. By purchasing the policy, you represent and warrant that you are not using the policy, or any of its riders, for speculation, arbitrage, viatication or any other type of collective investment scheme.

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

The online service at www.newyorklife.com or through 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 www.newyorklife.com or through the mobile application. Electronic delivery is not available for policies that are owned by corporations, trusts or organizations at this time.

Through www.newyorklife.com or the mobile application you can get up-to-date information about your policy and request fund transfers, allocation changes and partial withdrawals. Policies that are jointly owned may not request transactions through www.newyorklife.com or the mobile application. We may revoke online service for certain policyowners (see "THE POLICIES—Limits on Transfers").

In order to obtain policy information online at www.newyorklife.com or through the mobile application which is available for download on the Apple App Store and Google Play Store, you are required to register for access. You will be required to register a unique Username and Password to gain access

We will use reasonable procedures to make sure that the instructions we receive through www.newyorklife.com or 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 www.newyorklife.com or through the mobile application that we believe are genuine. We will confirm all transactions.

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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, online service at www.newyorklife.com or through the mobile application is open Monday through Friday, from 6 a.m. until 4 a.m., Saturday, from 6 a.m. until 2 a.m. and Sunday from 7 a.m. until 1 a.m. (Eastern Time).

By logging in at www.newyorklife.com or through the mobile application, you can conduct a number of transactions. These include managing your allocations, viewing details about your policy, changing your address, submitting policy transactions, uploading documents and forms, and downloading statements and other correspondence. You can see all of the transactions which can be conducted online or through the mobile application by logging in at www.newyorklife.com or through the mobile application.

We make the online service at www.newyorklife.com and through the mobile application available at our discretion. In addition, availability of online service may temporarily be interrupted at certain times. We do not assume responsibility for any loss while online service at www.newyorklife.com or through the mobile application is unavailable. If you are experiencing problems, you can send service requests to us at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

***Telephone Transactions***

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.

Currently, you can reach our customer service representatives at 1-800-598-2019 on Business Days between the hours of 9:00 a.m. and 6:00 p.m. (Eastern Time).

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 and/or by using our Interactive Voice Response (IVR) system:

&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 stop and reissue check on an outgoing payment;

&nbsp;&nbsp;&nbsp;&nbsp;● set up one-time electronic funds transfer for incoming payments;

&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 in the "CONTACTING NYLIAC" section of the prospectus.

***Third Party and Registered Representative Actions***

You may authorize a third party, including a joint policyowner, to have access to your policy information and to independently make transfers among Investment Divisions and/or the Fixed Account, allocation changes and other

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permitted transactions by telephone. To do so, you must send the VPSC a Telephone Authorization Form in Good Order to one of the addresses noted in the "CONTACTING NYLIAC" section of this Prospectus. We 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. See "THE POLICIES—Transfers" for information on how to transfer assets between Investment Divisions and/or an available Asset Allocation Model.

You may authorize us to accept electronic instructions from a registered representative or a registered service assistant assigned to your policy in order to make premium allocation updates, transfers among investment options, Automatic Asset Rebalancing (AAR), partial withdrawals and changes to your investment objective and/or risk tolerance. (Your AAR may be cancelled if a premium allocation change or fund transfer is submitted on your behalf and the AAR is not also modified at that time to be consistent with your investment option transfer and premium allocation changes). You may also authorize us to accept telephone instructions from a registered representative to make transfers among investment options as well as updates to premium allocations, take partial withdrawals, cease a periodic partial withdrawal, and update Dollar Cost Averaging (DCA), DCA Advantage (DCAA) and Interest Sweep. To authorize the registered representative(s) or registered service assistants assigned to your policy to make premium allocations, electronic transfers or telephone transfers, you must send a completed Trading and Partial Withdrawal Authorization Form to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. You must provide a separate authorization on that form in order for your registered representative or the registered service assistant assigned to your policy to be able to make electronic or telephone partial withdrawals on your behalf or cease a periodic partial withdrawal. Any partial withdrawal is subject to dollar amount limits that we establish. Not all periodic partial withdrawals can be ceased by your registered representative or their registered service assistant. We may revoke trading authorization privileges for certain policyowners (See "THE POLICIES—Limits on Transfers"). Trading authorization may be elected, changed or canceled 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 action on instructions which are believed to be genuine in accordance with the procedures. As these parties act on your behalf, you are responsible for and bear the consequences of their instructions and other actions, including any limits on transfers.

We may choose to accept forms you have completed that your registered representative transmits to us electronically via our internal secured network. We will accept electronically-transmitted service forms only. For information on how to initiate a transfer between Investment Divisions, or request a withdrawal, please refer to "THE POLICIES––Transfers" or "DISTRIBUTIONS UNDER THE POLICY––Surrenders and Withdrawals––Partial Withdrawals." 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.

If you purchase the IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0, there will be limitations on the ability of your registered representative to make certain of the transactions described in the sections that follow.

***Electronic Delivery***

We are required to send you, free of charge, an Initial Summary Prospectus and an Updating Summary Prospectus (as applicable), and any updates to such Summary Prospectus documents. If you register to have these documents sent to you using electronic delivery, we will apply a $30 e-delivery credit to your Accumulation Value in the Policy Year in which you register. We will apply this e-delivery credit only one time while the policy remains in force. If you cancel the electronic delivery of those documents, then reinstate electronic delivery later, you will not be entitled to another e-delivery credit. The e-delivery credit will be applied to the Allocation Options and/or the DCA Advantage Account in the same percentages used to allocate your premium payments. If you selected e-delivery, we will still provide you, free of charge, paper copies of these documents upon request.

Paper copies of a Portfolio's annual and semi-annual shareholder reports will not be sent by mail unless you specifically request paper copies of the reports from NYLIAC. Instead, the shareholder reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

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If you already elected to receive the Portfolios' annual and semi-annual reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive any other communications from NYLIAC electronically by contacting the VPSC.

You may elect to receive all future annual and semi-annual financial reports in paper free of charge. You can inform NYLIAC that you wish to receive paper copies of those reports by contacting NYLIAC, as described in the "CONTACTING NYLIAC" section of this Prospectus. Your election to receive annual and semi-annual shareholder reports will apply to all Portfolios described herein.

**Records and Reports**

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NYLIAC will mail to you at your last known address of record, at least semi-annually after the first Policy Year, reports (or, if permitted, notice of online availability of reports; see "THE POLICIES––Electronic Delivery," above) containing information required under the federal securities laws or by any other applicable law or regulation. Generally, NYLIAC will promptly mail to you confirmation of any transactions involving the Separate Account. However, when we (i) process automatic rebalancing transactions through AAR, (ii) process automatic transfers from the DCA Advantage Account, (iii) receive premium payments on your behalf involving the Separate Account initiated through pre-authorized monthly deductions from banks, (iv) receive payments forwarded by your employer, or (v) receive other payments made by 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. **If you believe that a transaction has been processed incorrectly, it is your responsibility to contact us in writing and provide us with all relevant details. You must provide us with the nature of the error, the date of the error and any other relevant details. It is important that you review your confirmation and quarterly statements carefully and promptly report any errors and discrepancies to us, preferably, within fifteen (15) days of the date of the statement in question. It is important that you inform NYLIAC of an address change so that you can receive these policy statements (See "CONTACTING NYLIAC"). In the event your statement is returned from the U.S. Postal Service as undeliverable, we reserve the right to suspend mailing future correspondence and also suspend current transaction processing until an accurate address is obtained. In addition, no new service requests can be processed until a valid current address is provided.**

***Designation of Beneficiary***

You may select one or more Beneficiaries and name them in the application. Thereafter, before the Annuity Commencement Date and while the Annuitant(s) is living, you may change the Beneficiary by written notice in Good Order sent to one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus, at www.newyorklife.com or through the mobile application, or you can utilize any other method we make available. If, before the Annuity Commencement Date, the Annuitant dies while you are still living, you will become the new Annuitant under the policy. If you are the Annuitant, the proceeds pass to your Beneficiary.

If no Beneficiary for any amount payable, or for a stated share, survives you, the right to this amount or this share will pass to your estate. Payment of the proceeds will be made in a single sum to your estate. If any Beneficiary dies at the same time as you, or within fifteen (15) days after your death, but before we receive proof of death and all claim information in Good Order, we will pay any amount payable as though the Beneficiary died before you did. If you have designated only one Beneficiary, this could mean that the proceeds will be payable to your estate.

Every state has unclaimed property laws, which generally declare an annuity policy to be abandoned after a period of inactivity of three to five years from the policy's Annuity Commencement Date or the date the death benefit is due and payable. If, after a thorough search, we are unable to locate you after your policy's Annuity Commencement Date, or if we are unable to locate your Beneficiary if you die before the Annuity Commencement Date, or you or the Beneficiary do not come forward to claim the policy proceeds or death benefit in a timely manner, the proceeds or death benefit may be paid to the abandoned property division or unclaimed property office of the state in which the beneficiary or the Annuitant last resided, as shown on our books and records, or to Delaware (our state of domicile). This escheatment is revocable, however, and the state is obligated to pay back the escheated amount if you or your beneficiary steps forward to claim it with the proper documentation. To prevent such escheatment, it is important that

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you update your Beneficiary designation, including addresses, if and as they change. Please contact us at the VPSC at 1-800-598-2019 or send written notice to one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus.

***Delay of Payments***

We will pay any amounts due from the Separate Account under the policy within seven (7) days of the date the VPSC receives all documents (including documents necessary to comply with federal and state tax law) in connection with a payment request in Good Order at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

*Situations where payments may be delayed:* 

&nbsp;&nbsp;&nbsp;&nbsp;1. We may delay payment of any amounts due from the Separate Account under the policy and transfers among Investment Divisions during any period that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The New York Stock Exchange ("NYSE") is closed, for other than usual weekends or holidays; trading is restricted by the Securities and Exchange Commission ("SEC"); or the SEC declares that an emergency exists as a result of which it is not reasonably practical to dispose of securities in a Portfolio or to fairly determine the value of the assets of a Portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The SEC, by order, permits us to delay payment in order to protect our policyowners; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The check used to pay the premium has not cleared through the banking system. This may take up to fifteen (15) days.

&nbsp;&nbsp;&nbsp;&nbsp;2. We may delay payment of any amounts due from the Fixed Account and/or the DCA Advantage Account. When permitted by law, we may defer payment of any partial withdrawal or full surrender request for up to six months from the date of surrender from the Fixed Account and/or the DCA Advantage Account. In most jurisdictions, we will pay interest on any amount deferred for thirty days or more. If we defer payments, we will pay interest at the rate specified by the insurance department of the state where your policy is issued from the Business Day that we receive your partial withdrawal or surrender request in Good Order. This rate will be at least 1.0% per year. For more information about when interest is payable for policies issued in New York, see APPENDIX 3.

&nbsp;&nbsp;&nbsp;&nbsp;3. Federal laws enacted 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 to a particular policy(ies), we would not be allowed to pay any request for transfers, partial withdrawals, surrenders or death benefits. If a policy or an account is frozen, the Accumulation Value would be moved to a special segregated interest-bearing account and held in that account until we receive instructions from the appropriate federal regulator.

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**Benefits Available Under The Policies**

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The following tables summarize information about the benefits available under the policy.

**STANDARD DEATH BENEFIT**

**(automatically included with the policy)** 

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Standard Death** <br> **Benefit**<br>| Guarantees that your <br> beneficiaries will receive the <br> greatest of: (i) your <br> Accumulation Value, less any <br> Premium Credits applied <br> within the 12 months <br> immediately preceding death; <br> (ii) the Return of Premium <br> Death Benefit; or (iii) the <br> Step-up Death Benefit.<br>| No additional charge | •Withdrawals could <br> significantly reduce the <br> benefit (possibly by an <br> amount substantially <br> greater than the actual <br> amount withdrawn).<br>|

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**OPTIONAL DEATH BENEFITS AVAILABLE FOR A FEE** 

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Annual Death** <br> **Benefit Reset** <br> **(ADBR) Rider**<br>| Provides a new locked–in <br> higher death benefit each <br> year from the Policy Date <br> ("Reset Anniversary"), if your <br> investments increase in <br> value.<br>| Maximum Charge: 1.00%<br>(Charge calculated as an <br> annualized percentage of the <br> ADBR Reset Value as of the <br> last Policy Anniversary or as <br> of the Policy Date if within <br> the first Policy Year, <br> deducted quarterly)<br>| •Only available at the time <br> of application to <br> policyowners aged 75 or <br> younger.<br>•Resets will continue on <br> Reset Anniversaries until <br> the Owner (or Annuitant if <br> the Owner is not a natural <br> person) is age 80 or 85 <br> (depending when the policy <br> was purchased).<br>•In certain jurisdictions, an <br> ownership change or <br> assignment will terminate <br> the benefit.<br>•Withdrawals could <br> significantly reduce the <br> benefit (possibly by an <br> amount substantially <br> greater than the actual <br> amount withdrawn).<br>•You cannot cancel the rider <br> without surrendering the <br> policy.<br>•The rider is not available <br> for Inherited Non-Qualified <br> policies.<br>|

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **IPR, IPR 2.0, IPR** <br> **3.0, IPR 4.0, IPR 5.0** <br> **Death Benefit**<br>| A death benefit that is <br> available if you purchase the <br> IPR, IPR 2.0, IPR 3.0, IPR <br> 4.0 or IPR 5.0.<br>This death benefit <br> guarantees that your <br> beneficiaries will receive the <br> greatest of the: (i) Standard <br> Death Benefit under the <br> policy; (ii) any death benefit <br> available under any other <br> rider attached to the policy; <br> or (iii) the IPR death benefit.<br>| Maximum Charge: 1.50%<br> (as an annualized <br> percentage of the amount <br> that is guaranteed)<br> Maximum Rider Risk Charge <br> Adjustment<br> (Cancellation Charge):<br> 2.00%<br> (one-time charge; calculated <br> as a percentage of the <br> amount guaranteed)<br>| •Only available at the time <br> of application.<br>•Only payable if the <br> Owner's spouse does not <br> elect to continue the policy <br> pursuant to its spousal <br> continuance option. If the <br> Owner's spouse elects to <br> continue the policy, the <br> IPR, IPR 2.0, IPR 3.0, IPR <br> 4.0 or IPR 5.0 will continue <br> and the IPR Death Benefit <br> will not be paid.<br>•The IPR Death Benefit that <br> is payable under the <br> investment preservation <br> riders may require that the <br> Owner hold the policy for a <br> minimum waiting period <br> before the IPR Death <br> Benefit equals the <br> Guaranteed Amount under <br> the investment <br> preservation rider. If the <br> Owner dies prior to the end <br> of that required waiting <br> period, the IPR Death <br> Benefit will be equal to the <br> first policy year premiums <br> less any proportional <br> withdrawals. (See <br> DESCRIPTION OF <br> BENEFITS – IPR, IPR 2.0, <br> IPR 3.0, IPR 4.0 and IPR <br> 5.0 for more information on <br> IPR Death Benefit <br> calculations.)<br>•Similarly, if an IPR Reset is <br> elected, a new waiting <br> period, as applicable, will <br> begin before the <br> Guaranteed Amount is <br> payable as the IPR Death <br> Benefit. If the Owner dies <br> prior to the end of the new <br> applicable waiting period, <br> the IPR Death Benefit will <br> be equal to the <br> Accumulation Value as of <br> the Rider Reset Effective <br> Date less any proportional <br> withdrawals. <br>|

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**OPTIONAL LIVING BENEFITS AVAILABLE FOR A FEE** 

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| | | | |
|:---|:---|:---|:---|
| **NAME OF BENEFIT** | **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF** <br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Investment** <br> **Preservation Rider,**<br> **Investment** <br> **Preservation Rider** <br> **2.0,**<br> **Investment** <br> **Preservation Rider** <br> **3.0**<br> **Investment** <br> **Preservation Rider** <br> **4.0**<br> (no longer available <br> for purchase)<br>| Protects your investment <br> from loss for a specified <br> Holding Period. If, after a <br> specified Holding Period, <br> your Accumulation Value is <br> less than the amount <br> guaranteed, we will make a <br> one-time increase to your <br> Accumulation Value to make <br> it equal to the guaranteed <br> amount.<br>You may request to reset the <br> guaranteed amount (an IPR <br> Reset) under certain <br> circumstances.<br>In most jurisdictions, includes <br> an IPR Death Benefit which <br> is payable upon the death of <br> the Owner if the Owner dies <br> before the end of the Holding <br> Period.<br>| Maximum Charge: 1.50%<br>(as an annualized <br> percentage of the amount <br> that is guaranteed)<br>Maximum Rider Risk Charge <br> Adjustment<br> (Cancellation Charge): <br>2.00%<br>(one-time charge; calculated <br> as a percentage of the <br> amount guaranteed)<br>| •Provides no benefit if you <br> surrender the policy before <br> the end of the Holding <br> Period.<br>•Restricts the availability of <br> certain investment options. <br> See APPENDIX 1B and <br> 1C.<br>•For IPR, Premium <br> Payments made after the <br> first Policy Year are not <br> included in the guaranteed <br> amount. For IPR 2.0, IPR <br> 3.0 and IPR 4.0, premiums <br> are only permitted (a) in <br> the first Policy Year or (b) <br> after a specified Holding <br> Period.<br>•Withdrawals could <br> significantly reduce the <br> benefit (possibly by an <br> amount greater than the <br> actual amount withdrawn).<br>|
|  |  |  | •An IPR Reset starts a new <br> Holding Period. New <br> annual charges may apply <br> after you elect an IPR <br> Reset. See the Rate Sheet <br> Prospectus Supplement for <br> current applicable reset <br> rates.<br>•IPR Reset rights may be <br> suspended or discontinued <br> and are subject to age <br> limits.<br>|
|  |  |  | •We apply a one-time <br> charge if you cancel the <br> rider (Rider Risk Charge <br> Adjustment).<br>|
| **Investment** <br> **Preservation Rider** <br> **5.0**<br>| Protects your investment <br> from loss for a specified <br> Holding Period. If, after a <br> specified Holding Period, <br> your Accumulation Value is <br> less than the amount <br> guaranteed, we will make a <br> one-time increase to your <br> Accumulation Value to make <br> it equal to the guaranteed <br> amount.<br>| Maximum Charge: 1.50%<br>(as an annualized <br> percentage of the amount <br> that is guaranteed)<br>Maximum Rider Risk Charge <br> Adjustment (Cancellation <br>Charge): 2.00%<br>(one-time charge; calculated<br>| •Only available at the time <br> of application to <br> policyowners aged 75 or <br> younger (70 or younger for <br> the 20-year Holding <br> Period).<br>•You should not select this <br> rider unless you intend to <br> keep the policy for at least <br> as long as the Holding <br> Period you've selected. <br>|

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| | | | |
|:---|:---|:---|:---|
| **NAME OF BENEFIT** | **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF** <br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  | <br> You may request to reset the <br> guaranteed amount (an IPR <br> Reset) under certain <br> circumstances.<br>In most jurisdictions, includes <br> an IPR Death Benefit which <br> is payable upon the death of <br> the Owner if the Owner dies <br> before the end of the Holding <br> Period.<br>| as a percentage of the <br> amount guaranteed)<br>| •Provides no benefit if you <br> surrender the policy before <br> the end of the Holding <br> Period.<br>•Restricts the availability of <br> certain investment options. <br> See APPENDIX 1C.<br>•Premium payments are <br> only permitted (a) in the <br> first Policy Year or (b) after <br> a specified Holding Period.<br>•Withdrawals could <br> significantly reduce the <br> benefit (possibly by an <br> amount greater than the <br> actual amount withdrawn).<br>•An IPR Reset starts a new <br> Holding Period. New <br> annual charges may apply <br> after you elect an IPR <br> Reset. See the Rate Sheet <br> Prospectus Supplement for <br> current applicable reset <br> rates.<br>|

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|:---|
| •IPR Reset rights may be <br> suspended or discontinued <br> and are subject to age <br> limits.<br>•We apply a one-time <br> charge if you cancel the <br> rider (Rider Risk Charge <br> Adjustment).<br>•Availability subject to <br> maximum age conditions. •For Accumulation <br> Value-Based M&E Charge <br> policies, you may only <br> select the 12- or 13-year <br> Holding Periods and your <br> minimum initial premium <br> payment is $500,000.<br>|
| •For Premium-Based M&E <br> Charge policies, you may <br> elect any Holding Period. If, <br> however, if you elect the <br> 20-year Holding Period, <br> your minimum initial <br> premium payment is <br>$500,000•The rider is not available <br> for 403(b), Inherited IRA, <br> Inherited Roth IRA, or <br> Inherited Non-Qualified <br> policies. <br>|

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**OTHER OPTIONAL BENEFITS INCLUDED WITH ALL POLICIES AT NO ADDITIONAL COST** 

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
| **Living Needs** <br> **Benefit /** <br> **Unemployment** <br> **Rider**<br>| Waives Surrender Charges if <br> the Owner experiences <br> certain "qualifying events" <br> such as: (i) confinement to a <br> health care facility for 60 <br> consecutive days; <br> (ii) terminal illness; or <br> (iii) disability. If the Owner <br> becomes unemployed, the <br> rider waives Surrender <br> Charges on a one-time <br> withdrawal of up to 50% of <br> your Accumulation Value.<br>|  | •Policy must have been in <br> force for at least one year <br> and have a minimum <br> Accumulation Value of <br> $5,000.<br>•Qualifying Event (as <br> defined in the rider) must <br> occur after the Policy Date.<br>•Not available if any Owner <br> has attained age 86 on the <br> Policy Date.<br>•For the Disability portion of <br> the rider, any withdrawal <br> after your 66th birthday will <br> not be eligible for the rider <br> benefit and surrender <br> charges may apply.<br>•Unemployment must be for <br> at least 60 consecutive <br> days.<br>•A determination letter from <br> your state's Department of <br> Labor is required for <br> unemployment benefit.<br>|
| **Future Income** <br> **Rider (no longer** <br> **available for** <br> **applications signed** <br> **on or after May 1,** <br> **2017)**<br>| Allows you to apply a portion <br> of your policy's Variable <br> Accumulation Value to <br> purchase a stream of <br> guaranteed annuity Income <br> Payments for the lifetime of <br> the Annuitant(s).<br>|  | •A Future Income Purchase <br> will proportionally reduce <br> the guaranteed amounts <br> under an investment <br> preservation rider or your <br> death benefit.<br>•Future Income Payment <br> amounts are based on a <br> variety of factors in effect <br> at the time of each Future <br> Income Purchase<br>•Amounts used for a Future <br> Income Purchase are no <br> longer available for <br> withdrawal or annuitization.<br>•Future Income Start Date <br> is subject to minimum and <br> maximum waiting periods.<br>|
| **Automatic Asset** <br> **Rebalancing**<br>| Automatically rebalances <br> your Variable Accumulation <br> Value (either quarterly, <br> semi–annually, or annually) <br> to maintain the percentage <br> allocated to each Investment<br>|  | •Cannot be used with the <br> traditional Dollar Cost <br> Averaging option.<br>•You must have a minimum <br> Accumulation Value of <br> $2,500 to elect this option, <br>|

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  | Division at a pre–set level. |  | and a minimum of $2,500 <br> to continue it as scheduled.<br>|

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| | | |
|:---|:---|:---|
| **Traditional Dollar** <br> **Cost Averaging**<br>| Automatically transfers a <br> specific amount of money <br> from any Investment Division <br> to any combination of <br> Investment Divisions and/or <br> Fixed Account at set <br> intervals.<br>| •Cannot be used with the <br> Automatic Asset <br> Rebalancing option, or with <br> an investment preservation <br> rider.<br>•For premium based M&E <br> Charge policies, amounts <br> cannot be transferred to <br> the Fixed Account (if <br> applicable).<br>•You must have a minimum <br> Accumulation Value of <br> $2,500 to elect this option, <br> and a minimum of $2,000 <br> to continue as scheduled.<br>|
| **The DCA** <br> **Advantage Account**<br>| Allows you to set up <br> automatic dollar cost <br> averaging using the DCA <br> Advantage Account when an <br> initial premium payment or a <br> subsequent premium <br> payment of at least $2,000 is <br> made. The DCA Advantage <br> Account transfers amounts <br> automatically to the <br> Investment Divisions you <br> choose in six monthly <br> increments and pays you <br> interest on amounts <br> remaining in the DCA <br> Advantage Account.<br>| •DCA Advantage Account <br> duration may not extend <br> beyond the Annuity <br> Commencement Date.<br>•You may not have more <br> than one DCA Advantage <br> Account open at the same <br> time.<br>•You must allocate a <br> minimum of $2,000 to the <br> DCA Advantage Account; <br> any premium payment less <br> than $2,000 will be <br> allocated directly to the <br> Investment Divisions in <br> accordance with the <br> instructions we have on <br> file.<br>•You cannot make transfers <br> into the DCA Advantage <br> Account from any <br> Allocation Option.<br>•The annual effective <br> interest rate for the DCA <br> Advantage Account shown <br> on your Policy Data Pate <br> applies only to your initial <br> premium payment. Interest <br> rates applied to <br> subsequent premium <br> payments allocated to the <br> DCA Advantage Account <br> may differ.<br>•The benefits payable under  |

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| | | | |
|:---|:---|:---|:---|
| **NAME OF**<br> **BENEFIT**<br>| **PURPOSE** | **MAXIMUM FEE** | **BRIEF DESCRIPTION OF**<br> **RESTRICTIONS/**<br> **LIMITATIONS**<br>|
|  |  |  | the DCA Advantage <br> Account (including principal <br> and interest) are payable <br> from NYLIAC's general <br> account and are subject to <br> its claims-paying ability.<br>|

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| | | |
|:---|:---|:---|
| **Interest Sweep** | Automatically transfers <br> interest earned on the Fixed <br> Account to one or any <br> combination of Investment <br> Divisions.<br>| •Frequency of the transfers <br> can be monthly, quarterly, <br> semi–annually, or annually.<br>•You must have a minimum <br> of $2,500 in the Fixed <br> Account to elect this option <br> (but this amount may be <br> reduced at our discretion) <br> and a minimum of $2,000 <br> to continue as scheduled.<br>|

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**Description of Benefits**

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***The Standard Death Benefit – Death Before Annuity Commencement***

Unless amended by any rider attached to the policy, if the Owner dies prior to the Annuity Commencement Date, we will pay the Standard Death Benefit amount as proceeds to the designated Beneficiary(ies), as of the date the VPSC receives proof of death and all other required information in Good Order at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. With a jointly owned policy, ownership rights and privileges under the policy must be exercised jointly and benefits under the policy will be paid upon the death of any joint owner, unless the surviving spouse has been designated the sole primary beneficiary. In that case, the surviving spouse can choose to continue the policy as discussed below. (See "FEDERAL TAX MATTERS— Taxation of Annuities in General.") For policies purchased before February 13, 2023 and owned by a grantor trust, benefits will be paid upon the death of any grantor. For policies owned by grantor trusts and purchased after February 13, 2023, benefits will be paid upon the death of the Annuitant. The Standard Death Benefit amount will be the greatest of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Accumulation Value less any Premium Credits applied within the 12 months immediately preceding death (in states where permitted); or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the Return of Premium Death Benefit; or

&nbsp;&nbsp;&nbsp;&nbsp;(c) the Step–up Death Benefit.

If more than one Beneficiary is named, each Beneficiary will be paid a pro rata portion from each Investment Division, the Fixed Account and the DCA Advantage Account in which the policy is invested as of the date we receive proof of death and all requirements necessary to make the payment to that Beneficiary. The remaining balance in the policy after paying each Beneficiary will remain in each Allocation Option in which the policy was invested as of the date we received proof of death in Good Order. We will keep the remaining balance in the policy to pay the other Beneficiaries. Due to market fluctuations, the remaining Accumulation Value may increase or decrease and we may pay subsequent Beneficiaries a different amount. Beneficiary(ies) may not make transfers between Investment Divisions of the Separate Account, the Fixed Account or any other investment option that we may offer at any time.

We will make payments in a lump sum to the Beneficiary unless you have elected or the Beneficiary elects otherwise in a signed written notice in Good Order. If such an election is properly made, we will apply all or part of these proceeds:

&nbsp;&nbsp;&nbsp;&nbsp;(i) under a Life Income Payment option to provide an immediate annuity for the Beneficiary who will be the policyowner and Annuitant; or

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

&nbsp;&nbsp;&nbsp;&nbsp;(ii) under another Income Payment option we may offer at the time.

Payments under the annuity or under any other method of payment we make available must be for the life of the Beneficiary, or for a number of years that is not more than the life expectancy of the Beneficiary at the time of the policyowner's death (as determined for federal tax purposes), and must begin within one year after the policyowner's death. (See "ANNUITY PAYMENTS (THE INCOME PHASE)—Income Payments.")

If your spouse (as defined under Federal law) is designated as the sole primary Beneficiary, we can pay the proceeds to the surviving spouse if you die before the Annuity Commencement Date or the policy can continue with the surviving spouse as (a) the new policyowner and, (b) the Annuitant, if you were the Annuitant. Please note: if your spouse is not designated as the sole primary beneficiary, when you die, the death benefit will be paid to the beneficiary(ies) you named, even if your spouse was the joint owner of the policy. For policies with one Annuitant, if the Annuitant is not an Owner and the Annuitant dies before the Annuity Commencement Date, when we receive proof of death for the Annuitant, the Owner will become the Annuitant, and the policy will continue. If the policy is jointly owned, the first Owner named will become the Annuitant. For more information about spousal continuance for policies issued in New Jersey, see *"APPENDIX 3 –State Variations."* 

We will make any distribution or application of policy proceeds within 7 days after the VPSC receives all documents (including documents necessary to comply with federal and state tax law) in connection with the event or election that causes the distribution to take place at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus in Good Order, subject to postponement in certain circumstances. (See "The POLICIES—Delay of Payments.")

<u>How the Standard Death Benefit is Calculated</u> 

Here is an example of how the Standard Death Benefit is calculated.

Assume that:

&nbsp;&nbsp;&nbsp;&nbsp;(1) You purchase this policy with a $200,000 premium payment (no additional premium payments are made); a Premium Credit of $6,000 is applied to this payment;

&nbsp;&nbsp;&nbsp;&nbsp;(2) A $20,000 withdrawal is made at the end of the second Policy Year, and the Accumulation Value immediately preceding the withdrawal is $240,000;

&nbsp;&nbsp;&nbsp;&nbsp;(3) The Accumulation Value as of the eighth Policy Anniversary is $225,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(4) You die in the ninth Policy Year, and the Accumulation Value upon death is $175,000

At issue, the Adjusted Death Benefit Premium Payments are equal to $200,000

Due to the $20,000 withdrawal at the end of the second Policy Year, the Adjusted Death Benefit Premium Payments were reduced by $16,666.67, calculated as follows: ($20,000 / $240,000) \* $200,000 = $16,666.67.

Upon death in the ninth policy year, the Standard Death Benefit is $225,000, which is the greater of:

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

the Accumulation Value upon death

= $175,000, or

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

Premium payments less any Return of Premium Death Benefit Proportional Withdrawal;

= $183,333.33 (calculated as follows: $200,000 - $16,666.67 = $183,333.33), or

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

The Step-Up Death Benefit;

=$225,000 (in most jurisdictions, the Step-up Death Benefit would be the Accumulation Value as of the eighth Policy Anniversary; in New York, for policies with an application signed on or after November 13, 2023, the Step-up Death Benefit would be the Accumulation Value as of the seventh Policy Anniversary)

In this example, your Beneficiary would receive **$225,000.** 

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***Annual Death Benefit Reset Rider***

**You may enhance your policy's Standard Death Benefit by purchasing the optional ADBR Rider. The ADBR Rider is available only at the time of application, in jurisdictions where approved, to policyowners aged 75 or younger. You cannot cancel this Rider without surrendering your policy.** The rider is not available for Inherited Non-Qualified polices. If you purchase this rider and you die prior to the Annuity Commencement Date, we will pay an amount as proceeds to the designated Beneficiary, as of the date we receive proof of death and all requirements necessary to make the payment at VPSC. For policies owned by a grantor trust, all of whose grantors are individuals, benefits will be paid upon the death of any grantor. With this rider, your death benefit will be the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Standard Death Benefit payable under the policy (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement"); or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the "ADBR Reset Value", as defined in the next paragraph, plus any additional premium payments made since the most recent "Reset Anniversary", and less (i) any Premium Credits, if credited to the policy within the twelve (12) months immediately preceding death, and (ii) any proportional withdrawals ("ADBR Reset Value Proportional Reductions") made since the most recent Reset Anniversary; or

&nbsp;&nbsp;&nbsp;&nbsp;(c) any death benefit available under any other rider attached to the policy.

We automatically calculate the ADBR Reset Value, with respect to any policy, every year from the Policy Date ("Reset Anniversary") until, for Policies applied for on or after May 1, 2019, you reach age 85 and, for Policies applied for before May 1, 2019, until you reach age 80 (or the Annuitant if the Owner is not a natural person). For policies owned by a grantor trust applied for on or after May 1, 2019, the ADBR Reset Value will be calculated until any grantor reaches age 85, and for Policies applied for before May 1, 2019, reaches age 80. On the first Policy Anniversary, the ADBR Reset Value is defined as the greater of (a) the Accumulation Value on the first Policy Anniversary; and (b) the Return of Premium Death Benefit. The ADBR Reset Value on the second and each subsequent Reset Anniversary is defined as the greatest of (a) the Accumulation Value on the current Reset Anniversary; and (b) the ADBR Reset Value on the prior Reset Anniversary, plus any premium payments made and, if applicable, any Premium Credits applied since the prior Reset Anniversary, less any ADBR Reset Value Proportional Withdrawals since the prior Reset Anniversary.

The rider benefit will no longer reset after the Owner's death or for grantor trust owned policies, the death of any grantor. The only exception is if the policy remains in-force under the spousal option provision of the Policy, if available. If the Owner is not a natural person, or a grantor trust, the rider benefit will no longer reset after the death of the Annuitant. In addition, in jurisdictions where approved, if an ownership change or assignment of the policy is made, other than as explicitly described in the rider, the rider will terminate and no ADBR Reset Value will be payable. If the rider is terminated, the death benefit payable will be the benefit provided in the "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement" section of this Prospectus.

An ADBR Reset Value Proportional Reduction is an amount equal to the amount withdrawn from the policy, after the first Policy Anniversary, (including applicable surrender charges), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the ADBR Reset Value immediately preceding the withdrawal.

We have set forth below an example of how the ADBR Rider works for an owner who is age 63. The current annual rider charge is 0.25% (for policies applied for on or after May 1, 2016) of the ADBR Reset Value as of the last Policy Anniversary, deducted quarterly. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) you purchase this policy with a $200,000 initial premium payment (no additional premium payments are made); a Premium Credit of $6,000 is applied to this payment

&nbsp;&nbsp;&nbsp;&nbsp;(2) the Accumulation Value as of the first Policy Anniversary is $250,000 (this is the Policy Year 1 ADBR Reset Value)

&nbsp;&nbsp;&nbsp;&nbsp;(3) the current Accumulation Value is $240,000

&nbsp;&nbsp;&nbsp;&nbsp;(4) you make a withdrawal of $15,000 in the Policy Year 2 (no surrender charges are applicable)

&nbsp;&nbsp;&nbsp;&nbsp;(5) you die at the beginning of the second policy quarter of Policy Year 2 after the withdrawal

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

&nbsp;&nbsp;&nbsp;&nbsp;(6) the Accumulation Value on the date we receive the necessary requirements to pay the death benefit is $225,000 ($240,000 – $15,000)

&nbsp;&nbsp;&nbsp;&nbsp;(7) the charge for the ADBR Rider is assessed (for policies applied for on or after May 1, 2016): 0.25% annually (0.0625% per quarter)

&nbsp;&nbsp;&nbsp;&nbsp;(8) the Death Benefit is the greatest of:

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

the Accumulation Value

= $225,000

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

the Return of Premium Death Benefit

= $187,500 calculated as described below:

To calculate the Return of Premium Death Benefit, you must first determine the value of any Return of Premium Death Benefit Proportional Withdrawal. The Return of Premium Death Benefit Proportional Withdrawal equals the amount of partial withdrawals ($15,000) divided by the policy's Accumulation Value immediately preceding the withdrawal ($240,000), multiplied by the Return of Premium Death Benefit immediately preceding the withdrawal ($200,000):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ($15,000/$240,000) x $200,000 = $12,500 is the proportional reduction.

The total amount of premium payments made under the policy ($200,000) minus the Return of Premium Death Benefit Proportional Withdrawal ($12,500) equals the Return of Premium Death Benefit ($187,500).

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

the Policy Year 2 ADBR Reset Value, which is the greatest of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. the Accumulation Value

= $225,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the prior ADBR Reset Value as of the last Reset Anniversary ($250,000), plus any premium payments and any Premium Credits made since the prior Reset Anniversary (less any applicable Premium Credits, if credited to the Accumulation Value within the twelve months immediately preceding death) ($0), less ADBR Reset Value Proportional Reductions since the prior Reset Anniversary ($15,625).

= $234,375 calculated as described below:

To calculate the ADBR Reset Value, you must first determine the value of any ADBR Reset Value Proportional Reduction. The ADBR Reset Value Proportional Reduction is an amount equal to the amount withdrawn from the policy, after the first Policy Anniversary, ($15,000), divided by the policy's Accumulation Value immediately preceding the withdrawal ($240,000), multiplied by the ADBR Reset Value immediately preceding the withdrawal ($250,000).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ($15,000/$240,000) x $250,000 = $15,625.

The prior ADBR Reset Value as of the last Reset Anniversary ($250,000), plus any premium payments since the prior Reset Anniversary ($0), less ADBR Reset Value Proportional Reductions since the prior Reset Anniversary ($15,625) equals $234,375.00.

In this example, your Beneficiary would receive **$234,375.00.** 

The ADBR Rider ends upon the earliest of the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) the Annuity Commencement Date,

&nbsp;&nbsp;&nbsp;&nbsp;(2) the date you surrender the policy,

&nbsp;&nbsp;&nbsp;&nbsp;(3) an ownership change or assignment of the policy, other than as described in the rider, or

&nbsp;&nbsp;&nbsp;&nbsp;(4) the date we terminate the policy.

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Notwithstanding the foregoing, if your spouse, as the sole primary Beneficiary, elects to continue the policy as the new Owner upon your death, the Rider will not end and all of the Rider's provisions and quarterly charges will continue to be deducted as if the new Owner had purchased the policy on the original Policy Date.

**You cannot cancel this Rider without surrendering your policy.**

***Investment Preservation Rider (IPR)***

The Investment Preservation Rider ("IPR") is no longer available for purchase and was available only at the time of application. The IPR allows you to choose among five (5) different Holding Periods. If you elected the IPR, you will be eligible to receive a one-time adjustment to your Accumulation Value in the event that your Accumulation Value is less than the amount guaranteed under the IPR on the applicable Policy Anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose. You may request to reset the guaranteed amount (an "IPR Reset") under certain circumstances, as described below. Certain features of the IPR relating to the 20 - year rider Holding Period may not be available in all jurisdictions; contact your registered representative or see "APPENDIX 3 - State Variations" for more information.

IPR will end on the applicable Policy Anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose. The applicable Policy Anniversary depends on the Holding Period you choose. While the IPR is in effect, we will deduct a charge from your Accumulation Value on each policy quarter. (See "CHARGES AND DEDUCTIONS-Optional Benefit Expenses-Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0 and Investment Preservation Rider 4.0 and Investment Preservation Rider 5.0" and the Rate Sheet Prospectus Supplement for current charges.) When you make a partial withdrawal (including required minimum distributions from IRAs), we will reduce the amount that is guaranteed (the "Guaranteed Amount") under the IPR proportionally ("Guaranteed Amount Proportional Reduction"). A Guaranteed Amount Proportional Reduction is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the Guaranteed Amount immediately preceding the withdrawal. For example, if you withdrew 10% of the Accumulation Value, your Guaranteed Amount will be reduced by 10%.

Please note that benefits payable under the IPR are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third-party guarantees are involved.

The Guaranteed Amount under the IPR is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(i) For the 12, 13, 14, or 15 year Holding Periods: The Guaranteed Amount will equal 100% of the sum of all premium payments that we receive in the first Policy Year, plus any Premium Credits applicable to those premium payments, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) For the 20 year Holding Period: The Guaranteed Amount will equal 150% of the sum of all premium payments that we receive in the first Policy Year, plus any Premium Credits applicable to those premium payments, less all Guaranteed Amount Proportional Reductions.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) For all Holding Periods, premium payments made after the first Policy Year will not be included in the Guaranteed Amount at issue. The IPR will take effect on the Policy Date.

&nbsp;&nbsp;&nbsp;&nbsp;(iv) IPR Reset:

You would decide to reset to increase the Guaranteed Amount under the IPR. You may request to reset the Guaranteed Amount at any time while the IPR is in effect as long as (a) the Owner (oldest Owner, if the policy is jointly owned) and the Annuitant (oldest Annuitant, if there are joint Annuitants) are age 75 or younger (for the 12, 13, 14 and 15 year Holding Periods), or age 70 or younger (for the 20 year Holding Period) and (b) prior to the reset, the Accumulation Value or 150% of the Accumulation Value (for the 20 year Holding Period) is greater than the Guaranteed Amount. For a reset, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset (the "Rider Reset Effective Date") and, at such time, the Guaranteed Amount will be increased to equal the Accumulation Value (for 12, 13, 14, 15 year Holding Periods) or 150% of the Accumulation Value (for the 20

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year Holding Period) on that date. After the reset(s), Guaranteed Amount Proportional Reductions still apply during the new Holding Period. Upon reset, the terms of the IPR Death Benefit are also reset so that the death of the Owner must be within two years of the new Holding Period End Date for the IPR Death Benefit to equal the Guaranteed Amount; if the death of the Owner is earlier than within two years of the new Holding Period End Date, the death benefit payable will be the greater of the Standard Death Benefit or the death benefit under the ADBR Rider, if applicable. We may also set a new charge (not to exceed the guaranteed maximum charge in the "FEE TABLE") for the IPR and the Rider Risk Charge Adjustment on the Rider Reset Effective Date. (See "CHARGES AND DEDUCTIONS-Optional Benefit Expenses-Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 and Investment Preservation Rider 5.0" and the Rate Sheet Prospectus Supplement for current charges and "CHARGES AND DEDUCTIONS-Optional Benefit Expenses-Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0.") In addition, upon reset, your allocation restrictions may change. When you reset, a new rider Holding Period with the same duration as the original Holding Period starts, that means, for example, if you purchase IPR with a 12 year Holding Period, and you elect to reset in Policy Year four (4), a new 12 year Holding Period will begin on the Policy Anniversary immediately following the date we receive your request to reset. You will not be eligible to receive a one-time adjustment to your Accumulation Value until the Policy Anniversary following the end of the new Holding Period. **We can suspend or discontinue the ability to reset the Guaranteed Amount at any time in our sole discretion on a nondiscriminatory basis. If we decide to suspend or discontinue the ability to reset the Guaranteed Amount, we will promptly notify you in writing.** Please contact your registered representative for more information.

A policyowner may cancel an IPR Reset at any time prior to or within thirty (30) days after the Rider Reset Effective Date. If you cancel your request to reset, no change will be made to the Guaranteed Amount, Holding Period, Holding Period End Date, Rider Effective Date (if previously reset, the Rider Reset Effective Date), allocation restrictions, the IPR Charge or the Rider Risk Charge Adjustment, if applicable.

If you purchased IPR, you will be allowed to allocate your premium payments to the Investment Divisions, an available Asset Allocation Model and the DCA Advantage Account subject to the restrictions set forth in *APPENDIX 1B.* 

The Fixed Account is not available while the IPR is in effect. Upon any termination of the IPR, the Fixed Account will be an available investment option. If you purchase the IPR, there will be limitations on how you allocate to the Investment Divisions. You may allocate your premium payment to Investment Divisions in the Asset Allocation Categories in accordance with the specified thresholds, or to one of the available Asset Allocation Models. Individual transfers between Investment Divisions, the DCA Advantage Account and/or Asset Allocation Models are not allowed. If you wish to complete an individual transfer between the Investment Divisions, or change to a different Asset Allocation Model (if available), you must send a reallocation form to the VPSC at one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus. Each policy quarter, we will automatically rebalance your current allocations to conform to your most recent allocation instructions. The Investment Division restrictions associated with the IPR seek to moderate overall volatility or hedge against down–market volatility and may limit your participation in positive investment performance. Other investment options that are available if you do not purchase the IPR may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with the IPR meet your investment objectives and risk tolerance. **The Asset Allocation Categories and the Asset Allocation Models available with IPR are set forth in APPENDIX 1B.** 

If you choose an IPR Reset, the restrictions on investment allocations may change. These changes could include an adjustment to the minimum and/or maximum allocation percentages available under the Asset Allocation Categories, adding or removing Asset Allocation Categories, adding or removing Asset Allocation Models, or discontinuing the availability of the DCA Advantage Account.

With the IPR, you do not have to surrender the policy to receive any applicable benefit. You will be eligible to receive any benefit payable on the Policy Anniversary for the Holding Period you chose after the later of the Policy Date or the most recent reset date. You do not need to take any action. We will inform you in writing if you are eligible to receive the one–time adjustment to your Accumulation Value under the IPR. We will also inform you of your options in the event that such one–time adjustment is made to your Accumulation Value which are to (i) surrender the policy and receive the adjusted Accumulation Value (which may be subject to surrender charges), or (ii) continue the policy at the adjusted Accumulation Value, which is subject to market fluctuation. If you are eligible to receive an adjustment,

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we will credit an amount to your Accumulation Value pro rata in accordance with your allocations currently on file. If you surrender the policy, amounts paid to you under the IPR may be taxable and you may be subject to a 10% penalty tax if such amounts are paid before you reach age 59½.

You may cancel the IPR within thirty (30) days after delivery of the policy without incurring the Rider Risk Charge Adjustment. To cancel, you must return the IPR to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel the IPR and refund any IPR charges which may have been deducted. After this 30–day period, you still have the right to discontinue the IPR, however, we will deduct a Rider Risk Charge Adjustment from your Accumulation Value and we will not refund any IPR charges that may have been deducted. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0.") Certain jurisdictions may not permit us to assess a Rider Risk Charge Adjustment; for more information, contact your registered representative or see "APPENDIX 3 – State Variations". The cancellation of the IPR after the 30–day period will be effective as of the date VPSC receives your cancellation request. You should consider the cost of cancelling the IPR prior to purchasing it.

The IPR was available with all Non–Qualified, IRA, SEP IRA, Simple IRA, Roth IRA, Keogh and Pension policies if the Owner (oldest Owner, if the policy is jointly owned) and the Annuitant (oldest Annuitant, if the policy has joint Annuitants) are age 75 or younger (70 or younger for the 20–year Holding Period) on the Rider Effective Date. The rider was not available on TSA and Inherited IRA policies.

The IPR will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to receive a potential one–time adjustment to your Accumulation Value. Therefore, you should purchase the IPR only if you intend to keep the policy for at least the rider Holding Period you choose (12, 13, 14, 15 or 20 years).

In most jurisdictions, the IPR will terminate if an ownership change or assignment of the policy is made, other than as explicitly described in the rider.

Upon your death, the IPR and the policy will terminate unless your spouse chooses to continue the policy. Your spouse must be the sole primary beneficiary to continue the IPR and the policy. If your spouse chooses to continue the IPR and the policy, no death benefit proceeds will be paid upon your death.

Any withdrawal reduces the Guaranteed Amount proportionally and the amount of charges assessed for the IPR. While the IPR is in effect, withdrawals will be deducted proportionally from the Allocation Options. However, please note that charges assessed for the IPR prior to the date of any partial withdrawal (including required minimum distributions from IRAs) will not be retroactively adjusted. **It is important to note that if you take any withdrawal (including required minimum distributions from IRAs) while the IPR is in effect, you may not be able to receive the full value of the IPR. The reduction in the Guaranteed Amount may be significant and could be greater than the actual amount withdrawn. This may occur when you request a withdrawal at a time when your Accumulation Value is lower than the Guaranteed Amount (see example below). As a result, the IPR may not be appropriate for you if you intend to take withdrawals (including required minimum distributions from IRAs) before the end of the Holding Period you choose. You should consult your tax advisor if you have any questions about the use of the IPR in your tax situation.** 

We have set forth below an example of how the benefit from the IPR may be realized and how withdrawals (including required minimum distributions from IRAs) will impact the Guaranteed Amount and how we calculate the Guaranteed Amount Proportional Reduction. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR with a 12, 13, 14, or 15 year Holding Period is purchased at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) A Premium Credit of $3,000 is applied to your policy;

&nbsp;&nbsp;&nbsp;&nbsp;(4) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(5) A withdrawal of $20,000 is made in the eighth policy year;

&nbsp;&nbsp;&nbsp;&nbsp;(6) The Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

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

&nbsp;&nbsp;&nbsp;&nbsp;(7) As of the Holding Period End Date, the Accumulation Value on the Policy Anniversary corresponding to the Holding Period you chose has decreased to $50,000.

The Guaranteed Amount when we issued the policy was $103,000. When the withdrawal was made in the eighth Policy Year, we reduced the Guaranteed Amount by the amount of the Guaranteed Amount Proportional Reduction. We calculated the amount of the Guaranteed Amount Proportional Reduction by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the Guaranteed Amount immediately preceding the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Guaranteed Amount Proportional Reduction = ($20,000/$80,000) x $103,000 = $25,750

To determine the new Guaranteed Amount after the withdrawal, we subtracted the Guaranteed Amount Proportional Reduction from the initial Guaranteed Amount: ($103,000 – $25,750) = $77,250.

On the Policy Anniversary for the Holding Period you chose, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $77,250. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $27,250.

If you had chosen the 20 year Holding Period, your IPR Guarantee Percentage would have been 150% and the Guaranteed Amount when we issued the policy would have been $154,500. The Guaranteed Amount Proportional reduction in year eight would have been ($20,000/$80,000) x $154,500 = $38,625 and the Guaranteed Amount after the Guaranteed Amount Proportional Reduction would have been $115,875. On the Policy Anniversary for the 20 year Holding Period, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $115,875. Therefore, you would have been eligible to receive a one-time adjustment of $65,875.

After the adjustment is paid, the rider will end. You would not have been eligible to receive this adjustment to your Accumulation Value if you had not purchased the IPR Rider.

*IPR Death Benefit*

If the policyowner dies within two Policy Years of the last day of the Rider term (Holding Period End Date) then in effect, the death benefit will equal the Guaranteed Amount for that Rider term, if that Guaranteed Amount is higher than death benefit payable under the policy (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".). However, if there is an ADBR Rider in effect, and the death benefit under the ADBR Rider is higher than the Standard Death Benefit or the Guaranteed Amount, we will pay the death benefit available under the ADBR Rider. Payment of a death benefit terminates the IPR. If the Owner dies before the last two Policy Years of the last day of the IPR Rider term (Holding Period End Date) then in effect, the death benefit payable will be the greater of the Standard Death Benefit or the death benefit under the ADBR Rider, if applicable.

***Investment Preservation Rider 2.0 (IPR 2.0)***

The Investment Preservation Rider 2.0 ("IPR 2.0") is no longer available for purchase and was available only at the time of application. While IPR 2.0 is in effect, you may only make premium payments to the policy (a) in the first Policy Year or (b) after the Holding Period End Date. The IPR 2.0 allows you to choose among five (5) different Holding Periods. If you purchase the IPR 2.0, you will be eligible to receive a one–time adjustment to your Accumulation Value in the event that your Accumulation Value is less than the amount guaranteed under the IPR 2.0 on the applicable Policy Anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose. You may request to reset the guaranteed amount (an "IPR Reset") under certain circumstances, as described below. Certain features of the IPR 2.0 relating to the 20 year Holding Period and may not be available in all jurisdictions; contact your registered representative or see *"APPENDIX 3 – State Variations"* for more information.

The IPR 2.0 ends on the applicable Policy Anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose (See "DESCRIPTION OF BENEFITS–Investment Preservation Rider 2.0–IPR 2.0 Death Benefit" regarding the terms under which such death benefit may continue after the IPR 2.0 ends). The applicable Policy Anniversary depends on the Holding Period you choose. While the IPR 2.0 is in effect and prior to the Holding Period End Date, we will deduct a charge from your Accumulation Value on each policy quarter. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 and Investment Preservation 5.0" and the Rate Sheet Prospectus Supplement for current charges.) When you make a

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withdrawal (including required minimum distributions from IRAs), we will reduce the amount that is guaranteed (the "Guaranteed Amount") under the IPR 2.0 proportionally ("Guaranteed Amount Proportional Reduction"). A Guaranteed Amount Proportional Reduction is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the Guaranteed Amount immediately preceding the withdrawal. For example, if you withdrew 10% of the Accumulation Value, your Guaranteed Amount will be reduced by 10%.

Please note that benefits payable under the IPR 2.0 are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third–party guarantees are involved.

The Guaranteed Amount under the IPR 2.0 is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(i) For the 12, 13, 14, or 15 year Holding Periods: The Guaranteed Amount will equal 100% of the sum of all premium payments made in the first Policy Year, plus any Premium Credits applicable to those premium payments, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) For the 20 year Holding Period: The Guaranteed Amount will equal 150% of the sum of all premium payments made in the first Policy Year, plus any Premium Credits applicable to those premium payments, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) IPR Reset:

You can decide to reset to increase the Guaranteed Amount under the IPR 2.0. You may request to reset the Guaranteed Amount at any time while the IPR 2.0 is in effect as long as (a) the Owner (oldest Owner, if the policy is jointly owned) and the Annuitant (oldest Annuitant, if there are joint Annuitants) are age 75 or younger (for the 12, 13, 14 and 15 year Holding Periods), or age 70 or younger (for the 20 year Holding Period and (b) prior to the reset, the Accumulation Value or 150% of the Accumulation Value (for the 20 Year Holding Period) is greater than the Guaranteed Amount. For a reset, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset (the "Rider Reset Effective Date") and at such time, the Guaranteed Amount will be increased to equal the Accumulation Value (for 12,13,14 and 15 year Holding Periods) or 150% of the Accumulation Value (for the 20 year Holding Period) on that date. After the reset(s), Guaranteed Amount Proportional Reductions still apply during the new Holding Period. Additionally, upon reset, the terms of the IPR Death Benefit for the 20 year Holding Period are also reset so that the Owner must hold the rider for the new waiting period (within two years of the new Holding Period End Date), for the IPR Death Benefit to equal the Guaranteed Amount; if the death of the Owner is earlier than within two years of the new Holding Period End Date, the IPR Death Benefit will be the Accumulation Value as of the Rider Reset Effective Date less any proportional withdrawals. We may also set a new charge (not to exceed the guaranteed maximum charge in the "FEE TABLE") for the IPR 2.0 and the Rider Risk Charge Adjustment on the Rider Reset Effective Date. (See "CHARGES AND DEDUCTIONS -Optional Benefit Expenses-Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 and Investment Preservation Rider 5.0" and the Rate Sheet Prospectus Supplement for current charges, and "CHARGES AND DEDUCTIONS-Optional Benefit Expenses-Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0"). In addition, upon reset, your allocation restrictions may change. When you reset, a new rider Holding Period with the same duration as the original rider Holding Period starts. That means, for example, if you purchase IPR 2.0 with a 12 year Holding Period, and you elect to reset in Policy Year four (4), a new 12 year Holding Period will begin on the Policy Anniversary immediately following the date we receive your request to reset. You will not be eligible to receive a one-time adjustment to your Accumulation Value until the Policy Anniversary following the end of the new rider Holding Period. **We can suspend or discontinue the ability to reset the Guaranteed Amount at any time in our sole discretion on a nondiscriminatory basis. If we decide to suspend or discontinue the ability to reset the Guaranteed Amount, we will promptly notify you in writing.** Please contact your registered representative for more information.

A policyowner may cancel an IPR Reset at any time prior to or within thirty (30) days after the Rider Reset Effective Date. If you cancel your request to reset, no change will be made to the Guaranteed Amount, Holding Period, Holding

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Period End Date, Rider Effective Date (if previously reset, the Rider Reset Effective Date), allocation restrictions, IPR 2.0 Charge or Rider Risk Charge Adjustment, if applicable.

If you purchased IPR 2.0, you will be allowed to allocate your premium payments to the Investment Divisions, an available Asset Allocation Model and the DCA Advantage Account subject to the restrictions set forth in *APPENDIX 1B.* 

The Fixed Account is not available while the IPR 2.0 is in effect and prior to the Holding Period End Date. Upon any termination of the IPR 2.0, the Fixed Account will be an available investment option. If you purchase the IPR 2.0, there will be limitations on how you allocate to the Investment Divisions. You may allocate your premium payment to Investment Divisions in the Asset Allocation Categories in accordance with the specified thresholds, or to one of the available Asset Allocation Models. Individual transfers between Investment Divisions, the DCA Advantage Account and/or Asset Allocation Models are not allowed. If you wish to complete an individual transfer between the Investment Divisions, or change to a different Asset Allocation Model (if available), you must send a reallocation form to the VPSC at one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus. Each policy quarter, we will automatically rebalance your current allocations to conform to your most recent allocation instructions. The Investment Division restrictions associated with the IPR 2.0 seek to moderate overall volatility or hedge against down–market volatility and may limit your participation in positive investment performance. Other investment options that are available if you do not purchase the IPR 2.0 may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with the IPR 2.0 meet your investment objectives and risk tolerance. ***The Asset Allocation Categories and the Asset Allocation Models available with IPR 2.0 are set forth in APPENDIX 1B.***

If you choose an IPR Reset, the restrictions on investment allocations may change. These changes could include an adjustment to the minimum and/or maximum allocation percentages available under the Asset Allocation Categories, adding or removing Asset Allocation Categories, adding or removing Asset Allocation Models, or discontinuing the availability of the DCA Advantage Account.

With the IPR 2.0, you do not have to surrender the policy to receive any applicable benefit. You will be eligible to receive any benefit payable on the Policy Anniversary for the Holding Period you chose after the later of the Policy Date or the most recent reset date. You do not need to take any action. We will inform you in writing if you are eligible to receive the one–time adjustment to your Accumulation Value under the IPR 2.0. We will also inform you of your options in the event that such one–time adjustment is made to your Accumulation Value which are to (i) surrender the policy and receive the adjusted Accumulation Value (which may be subject to surrender charges), or (ii) continue the policy at the adjusted Accumulation Value, which is subject to market fluctuation. If you are eligible to receive an adjustment, we will credit an amount to your Accumulation Value pro rata in accordance with your allocations currently on file. If you surrender the policy, amounts paid to you under the IPR 2.0 may be taxable and you may be subject to a 10% penalty tax if such amounts are paid before you reach age 59½.

You may cancel the IPR 2.0 within thirty (30) days after delivery of the policy without incurring the Rider Risk Charge Adjustment. To cancel, you must return the IPR 2.0 to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel the IPR 2.0 and refund any IPR 2.0 charges which may have been deducted. After this 30–day period, you still have the right to discontinue the IPR 2.0, however, we will deduct a Rider Risk Charge Adjustment from your Accumulation Value and we will not refund any IPR 2.0 charges that may have been deducted. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0.") Certain jurisdictions may not permit us to assess a Rider Risk Charge Adjustment; for more information, contact your registered representative or see *"APPENDIX 3 – State Variations."* The cancellation of the IPR 2.0 after the 30–day period will be effective as of the date VPSC receives your cancellation request. You should consider the cost of cancelling the IPR 2.0 prior to purchasing it.

The IPR 2.0 was available with all Non–Qualified, IRA, SEP IRA, Simple IRA, Roth IRA, Keogh and Pension policies if the Owner (oldest Owner, if the policy is jointly owned) and the Annuitant (oldest Annuitant, if the policy has joint Annuitants) are age 75 or younger (70 or younger for the 20–year Holding Period) on the Rider Effective Date. The rider was not available on TSA and Inherited IRA policies.

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The IPR 2.0 will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to receive a potential one–time adjustment to your Accumulation Value. Therefore, you should purchase the IPR 2.0 only if you intend to keep the policy for at least the rider Holding Period you choose (12, 13, 14, 15 or 20 years).

In most jurisdictions, the IPR 2.0 will terminate if an ownership change or assignment of the policy is made, other than as explicitly described in the rider.

Any withdrawal reduces the Guaranteed Amount proportionally and the amount of charges assessed for the IPR 2.0. While the IPR 2.0 is in effect, withdrawals will be deducted proportionally from the Allocation Options. However, please note that charges assessed for the IPR 2.0 prior to the date of any withdrawal (including required minimum distributions from IRAs) will not be retroactively adjusted. **It is important to note that if you take any withdrawals (including required minimum distributions from IRAs) while the IPR 2.0 is in effect, you may not be able to receive the full value of the IPR 2.0. The reduction in the Guaranteed Amount may be significant and could be greater than the actual amount withdrawn. This may occur when you request a withdrawal at a time when your Accumulation Value is lower than the Guaranteed Amount (see example below). As a result, the IPR 2.0 may not be appropriate for you if you intend to take withdrawals (including required minimum distributions from IRAs) before the end of the Holding Period you choose. You should consult your tax advisor if you have any questions about the use of the IPR 2.0 in your tax situation.** 

We have set forth below an example of how the benefit from the IPR 2.0 may be realized and how withdrawals (including required minimum distributions from IRAs) will impact the Guaranteed Amount and how we calculate the Guaranteed Amount Proportional Reduction. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR 2.0 with a 12, 13, 14, or 15 year Holding Period is purchased at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) A Premium Credit of $3,000 is applied to your policy;

&nbsp;&nbsp;&nbsp;&nbsp;(4) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(5) A withdrawal of $20,000 is made in the eighth policy year;

&nbsp;&nbsp;&nbsp;&nbsp;(6) The Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(7) As of the Holding Period End Date, the Accumulation Value on the Policy Anniversary corresponding to the Holding Period you chose has decreased to $50,000.

The Guaranteed Amount when we issued the policy was $103,000. When the withdrawal was made in the eighth Policy Year, we reduced the Guaranteed Amount by the amount of the Guaranteed Amount Proportional Reduction. We calculated the amount of the Guaranteed Amount Proportional Reduction by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the Guaranteed Amount immediately preceding the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Guaranteed Amount Proportional Reduction = ($20,000/$80,000) x $103,000 = $25,750

To determine the new Guaranteed Amount after the withdrawal, we subtracted the amount of the Guaranteed Amount Proportional Reduction from the initial Guaranteed Amount: ($103,000 – $25,750) = $77,250.

On the Policy Anniversary for the Holding Period you chose, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $77,250. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $27,250.

If you had chosen the 20 year Holding Period, your IPR Guarantee Percentage would have been 150% and the Guaranteed Amount when we issued the policy would have been $154,500. The Guaranteed Amount Proportional reduction in year eight would have been ($20,000/$80,000) x $154,500 = $38,625 and the Guaranteed Amount after the Guaranteed Amount Proportional Reduction would have been $115,875. On the Policy Anniversary for the 20 year Holding Period, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $115,875. Therefore, you would have been eligible to receive a one-time adjustment of $65,875.

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After the adjustment is paid, the rider will end (See "DESCRIPTION OF BENEFITS–Investment Preservation Rider 2.0 –IPR 2.0 Death Benefit" below regarding the terms under which such death benefit may continue after the IPR 2.0 ends). You would not have been eligible to receive this adjustment to your Accumulation Value if you had not purchased the IPR 2.0 Rider.

Upon your death, the IPR 2.0 and the policy will terminate unless your spouse chooses to continue the policy. Your spouse must be the sole primary beneficiary to continue the IPR 2.0 and the policy. If your spouse chooses to continue the IPR 2.0 and the policy, no death benefit proceeds will be paid upon your death.

*IPR 2.0 Death Benefit*

The IPR 2.0 Death Benefit is available in jurisdictions where approved (see *"APPENDIX 3 – State Variations"* for more information).

*For the 12, 13, 14 and 15 year Holding Periods:* 

If the Owner dies on or before the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 2.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount reduced by any Premium Credits applied within twelve (12) months of the date of death; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 2.0 Death Benefit in (b) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 2.0 Death Benefit immediately preceding the withdrawal. Premium Credits applied after the IPR 2.0 Holding Period End Date are not applied to the IPR 2.0 Death Benefit and therefore do not increase the IPR 2.0 Death Benefit.

*For the 20 year Holding Period:* 

If the Owner dies within the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies before the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(c).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

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

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 2.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A portion of the Guaranteed Amount which is determined by dividing the Guaranteed Amount by 150% reduced by any Premium Credits applied within twelve (12) months of the date of death; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 2.0 Death Benefit in (c) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 2.0 Death Benefit immediately preceding the withdrawal. Premium Credits applied after the IPR 2.0 Holding Period End Date are not applied to the IPR 2.0 Death Benefit and therefore do not increase the IPR 2.0 Death Benefit.

*Payment of a death benefit terminates the IPR 2.0.* 

**It is important to note that for purposes of calculating the Guaranteed Amount under the IPR 2.0 Death Benefit, Withdrawals (including required minimum distributions) proportionally reduce the Guaranteed Amount while additional premium payments increase the Guaranteed Amount dollar for dollar. This means that under certain market conditions, a withdrawal could have a much more significant impact on the Guaranteed Amount (negatively) than would a premium payment made in the same amount (positively).** 

For example, assume that you are in your first Policy Year. You made an initial premium payment of $100,000 a Premium Credit of $3,000 is applied to your policy, so your Guaranteed Amount is $103,000. Assume further, however, that your Accumulation Value immediately dropped due to negative market performance and is now only $80,000. If you requested a withdrawal of $20,000 at a time where your Accumulation Value was less that the Guaranteed Amount, the Guaranteed Amount Proportional Reduction would operate to lower the Guaranteed Amount by $25,750. Your Guaranteed Amount after the withdrawal would be $77,250. Although you only requested a withdrawal of $20,000, it resulted in a $25,750 reduction of the benefit guaranteed by the IPR 2.0. If, however, there had been no negative market performance and you made a premium payment of $20,000 a Premium Credit of $600 is applied to your policy instead of a withdrawal, the effect on your Guaranteed Amount would be to increase your Guaranteed Amount by $20,600 so that it is now $123,600. A withdrawal, therefore, may have a greater impact on the value of the benefit than would a payment made in the same amount. Please consult your registered representative before making a withdrawal to discuss its impact on your IPR benefit.

***Investment Preservation Rider 3.0 (IPR 3.0)***

The Investment Preservation Rider 3.0 ("IPR 3.0") is no longer available for purchase and was available only at the time of application. While IPR 3.0 is in effect, you may only make premium payments to the policy (a) in the first Policy Year or (b) after the Holding Period End Date. The IPR 3.0 allows you to choose among five (5) different Holding Periods. If you purchase the IPR 3.0, you will be eligible to receive a one–time adjustment to your Accumulation Value in the event that your Accumulation Value is less than the amount guaranteed under the IPR 3.0 on the applicable Policy Anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose. You may request to reset the guaranteed amount (an "IPR Reset") under certain circumstances, as described below. Certain features of the IPR 3.0 relating to the 20 year Holding Period and the IPR 3.0 Death Benefit may not be available in all jurisdictions; contact your registered representative or see "APPENDIX 3 – State Variations" for more information.

The IPR 3.0 ends on the applicable Policy Anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose (See "DESCRIPTION OF BENEFITS–Investment Preservation Rider 3.0–IPR 3.0 Death Benefit" regarding the terms under which such death benefit may continue after the IPR 3.0 ends). The applicable Policy Anniversary depends on the Holding Period you choose. While the IPR 3.0 is in effect and prior to the Holding Period End Date, we will deduct a charge from your Accumulation Value on each policy quarter. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 and Investment Preservation Rider 5.0" and the Rate Sheet Supplement for current charges.) When you make a withdrawal (including required minimum distributions from IRAs), we will reduce the amount that is guaranteed (the

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"Guaranteed Amount") under the IPR 3.0 proportionally ("Guaranteed Amount Proportional Reduction"). A Guaranteed Amount Proportional Reduction is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the Guaranteed Amount immediately preceding the withdrawal. For example, if you withdrew 10% of the Accumulation Value, your Guaranteed Amount will be reduced by 10%.

Please note that benefits payable under the IPR 3.0 are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third–party guarantees are involved.

The Guaranteed Amount under the IPR 3.0 is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(i) For the 12, 13, 14, or 15 year Holding Periods: The Guaranteed Amount will equal 100% of the sum of all premium payments made in the first Policy Year, plus any Premium Credits applicable to those premium payments, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) For the 20 year Holding Period: The Guaranteed Amount will equal 150% of the sum of all premium payments made in the first Policy Year, plus any Premium Credits applicable to those premium payments, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) IPR Reset:

You can decide to reset to increase the Guaranteed Amount under the IPR 3.0. You may request to reset the Guaranteed Amount at any time while the IPR 3.0 is in effect as long as (a) the Owner (oldest Owner, if the Policy is jointly owned) and the Annuitant (oldest Annuitant, if there are joint Annuitants) are age 75 or younger (for the 12, 13, 14 and 15 year Holding Periods), or age 70 or younger (for the 20 year Holding Period) and (b) prior to the reset, the Accumulation Value or 150% of the Accumulation Value (for the 20 year Holding Period) is greater than the Guaranteed Amount. For a reset, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset (the "Rider Reset Effective Date") and, at such time, the Guaranteed Amount will be increased to equal the Accumulation Value (for 12,13, 14 and 15 year Holding Periods) or 150% of the Accumulation Value (for the 20 year Holding Period) on that date. After the reset(s), Guaranteed Amount Proportional Reductions still apply during the new Holding Period. We may also set a new charge (not to exceed the guaranteed maximum charge in the "FEE TABLE") for the IPR 3.0 and the Rider Risk Charge Adjustment on the Rider Reset Effective Date. Additionally, upon reset, the terms of the IPR Death Benefit for the 20 year Holding Period are also reset so that the Owner must hold the rider for the new minimum waiting period (within two years of the new Holding Period End Date), for the IPR Death Benefit to equal the Guaranteed Amount; if the death of the Owner is earlier than within two years of the new Holding Period End Date, the IPR Death Benefit will be the Accumulation Value as of the Rider Reset Effective Date less any proportional withdrawals. (See "CHARGES AND DEDUCTIONS-Optional Benefit Expenses-Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 and Investment Preservation Rider 5.0" and the Rate Sheet Prospectus Supplement for current charges and "CHARGES AND DEDUCTIONS-Optional Benefit Expenses-Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0"). In addition, upon reset, your allocation restrictions may change. When you reset, a new rider Holding Period with the same duration as the original rider Holding Period starts. That means, for example, if you purchase IPR 3.0 with a 12 year Holding Period, and you elect to reset in Policy Year four (4), a new 12 year Holding Period will begin on the Policy Anniversary immediately following the date we receive your request to reset. You will not be eligible to receive a one-time adjustment to your Accumulation Value until the Policy Anniversary following the end of the new rider Holding Period. **We can suspend or discontinue the ability to reset the Guaranteed Amount at any time in our sole discretion on a nondiscriminatory basis. If we decide to suspend or discontinue the ability to reset the Guaranteed Amount, we will promptly notify you in writing.** Please contact your registered representative for more information.

A policyowner may cancel an IPR Reset at any time prior to or within thirty (30) days after the Rider Reset Effective Date. If you cancel your request to reset, no change will be made to the Guaranteed Amount, Holding Period, Holding Period End Date, Rider Effective Date (if previously reset, the Rider Reset Effective Date), allocation restrictions, the IPR 3.0 Charge or Rider Risk Charge Adjustment, if applicable.

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If you purchased IPR 3.0, you will be allowed to allocate your premium payments to the Investment Divisions, an available Asset Allocation Model and the DCA Advantage Account subject to the restrictions set forth in APPENDIX 1C.

The Fixed Account is not available while the IPR 3.0 is in effect and prior to the Holding Period End Date. Upon any termination of the IPR 3.0, the Fixed Account will be an available investment option. If you purchase the IPR 3.0, there will be limitations on how you allocate to the Investment Divisions. You may allocate your premium payment to Investment Divisions in the Asset Allocation Categories in accordance with the specified thresholds, or to one of the available Asset Allocation Models. Individual transfers between Investment Divisions, the DCA Advantage Account and/or Asset Allocation Models are not allowed. If you wish to complete an individual transfer between the Investment Divisions, or change to a different Asset Allocation Model (if available), you must send a reallocation form to the VPSC at one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus. Each policy quarter, we will automatically rebalance your current allocations to conform to your most recent allocation instructions. The Investment Division restrictions associated with the IPR 3.0 seek to moderate overall volatility or hedge against down–market volatility and may limit your participation in positive investment performance. Other investment options that are available if you do not purchase the IPR 3.0 may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with the IPR 3.0 meet your investment objectives and risk tolerance. **The Asset Allocation Categories and the Asset Allocation Models available with IPR 3.0 are set forth in APPENDIX 1C.** 

If you choose an IPR Reset, the restrictions on investment allocations may change. These changes could include an adjustment to the minimum and/or maximum allocation percentages available under the Asset Allocation Categories, adding or removing Asset Allocation Categories, adding or removing Asset Allocation Models, or discontinuing the availability of the DCA Advantage Account.

With the IPR 3.0, you do not have to surrender the policy to receive any applicable benefit. You will be eligible to receive any benefit payable on the Policy Anniversary for the Holding Period you chose after the later of the Policy Date or the most recent reset date. You do not need to take any action. We will inform you in writing if you are eligible to receive the one–time adjustment to your Accumulation Value under the IPR 3.0. We will also inform you of your options in the event that such one–time adjustment is made to your Accumulation Value which are to (i) surrender the policy and receive the adjusted Accumulation Value (which may be subject to surrender charges), or (ii) continue the policy at the adjusted Accumulation Value, which is subject to market fluctuation. If you are eligible to receive an adjustment, we will credit an amount to your Accumulation Value pro rata in accordance with your allocations currently on file. If you surrender the policy, amounts paid to you under the IPR 3.0 may be taxable and you may be subject to a 10% penalty tax if such amounts are paid before you reach age 59½.

You may cancel the IPR 3.0 within thirty (30) days after delivery of the policy without incurring the Rider Risk Charge Adjustment. To cancel, you must return the IPR 3.0 to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel the IPR 3.0 and refund any IPR 3.0 charges which may have been deducted. After this 30–day period, you still have the right to discontinue the IPR 3.0, however, we will deduct a Rider Risk Charge Adjustment from your Accumulation Value and we will not refund any IPR 3.0 charges that may have been deducted. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0.") Certain jurisdictions may not permit us to assess a Rider Risk Charge Adjustment; for more information, contact your registered representative or see "APPENDIX 3–State Variations". The cancellation of the IPR 3.0 after the 30– day period will be effective as of the date VPSC receives your cancellation request. You should consider the cost of cancelling the IPR 3.0 prior to purchasing it.

The IPR 3.0 was available with all Non–Qualified, IRA, SEP IRA, Simple IRA, Roth IRA, Keogh and Pension policies if the Owner (oldest Owner, if the policy is jointly owned) and the Annuitant (oldest Annuitant, if the policy had joint Annuitants) are age 75 or younger (70 or younger for the 20–year Holding Period) on the Rider Effective Date. The rider was not available on TSA and Inherited IRA policies.

The IPR 3.0 will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to receive a potential one–time adjustment to your Accumulation Value. Therefore, you should purchase the IPR 3.0 only if you intend to keep the policy for at least the rider Holding Period you choose (12, 13, 14, 15 or 20 years).

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In most jurisdictions, the IPR 3.0 will terminate if an ownership change or assignment of the policy is made, other than as explicitly described in the rider.

Any withdrawal reduces the Guaranteed Amount proportionally and the amount of charges assessed for the IPR 3.0. While the IPR 3.0 is in effect, withdrawals will be deducted proportionally from the Allocation Options. However, please note that charges assessed for the IPR 3.0 prior to the date of any withdrawal (including required minimum distributions from IRAs) will not be retroactively adjusted. **It is important to note that if you make any withdrawals (including required minimum distributions from IRAs) while the IPR 3.0 is in effect, you may not be able to receive the full value of the IPR 3.0. The reduction in the Guaranteed Amount may be significant and could be greater than the actual amount withdrawn. This may occur when you request a withdrawal at a time when your Accumulation Value is lower than the Guaranteed Amount (see example below). As a result, the IPR 3.0 may not be appropriate for you if you intend to take withdrawals (including required minimum distributions from IRAs) before the end of the Holding Period you choose. You should consult your tax advisor if you have any questions about the use of the IPR 3.0 in your tax situation.** 

We have set forth below an example of how the benefit from the IPR 3.0 may be realized and how withdrawals (including required minimum distributions from IRAs) will impact the Guaranteed Amount and how we calculate the Guaranteed Amount Proportional Reduction. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR 3.0 with a 12, 13, 14, or 15 year Holding Period is purchased at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) A Premium Credit of $3,000 is applied to your policy;

&nbsp;&nbsp;&nbsp;&nbsp;(4) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(5) A withdrawal of $20,000 is made in the eighth policy year;

&nbsp;&nbsp;&nbsp;&nbsp;(6) The Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(7) As of the Holding Period End Date, the Accumulation Value on the Policy Anniversary corresponding to the Holding Period you chose has decreased to $50,000.

The Guaranteed Amount when we issued the policy was $103,000. When the withdrawal was made in the eighth Policy Year, we reduced the Guaranteed Amount by the amount of the Guaranteed Amount Proportional Reduction. We calculated the amount of the Guaranteed Amount Proportional Reduction by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the Guaranteed Amount immediately preceding the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Guaranteed Amount Proportional Reduction = ($20,000/$80,000) x $103,000 = $25,750

To determine the new Guaranteed Amount after the withdrawal, we subtracted the amount of the Guaranteed Amount Proportional Reduction from the initial Guaranteed Amount: ($103,000 – $25,750) = $77,250.

On the Policy Anniversary for the Holding Period you chose, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $77,250. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $27,250.

If you had chosen the 20 year Holding Period, your IPR Guarantee Percentage would have been 150% and the Guaranteed Amount when we issued the policy would have been $154,500. The Guaranteed Amount Proportional reduction in year eight would have been ($20,000/$80,000) x $154,500 = $38,625 and the Guaranteed Amount after the Guaranteed Amount Proportional Reduction would have been $115,875. On the Policy Anniversary for the 20 year Holding Period, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $115,875. Therefore, you would have been eligible to receive a one-time adjustment of $65,875.

After the adjustment is paid, the rider will end (See "DESCRIPTION OF BENEFITS–Investment Preservation Rider 3.0–IPR 3.0 Death Benefit" regarding the terms under which such death benefit may continue after the IPR 3.0 ends). You would not have been eligible to receive this adjustment to your Accumulation Value if you had not purchased the IPR 3.0 Rider.

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Upon your death, the IPR 3.0 and the policy will terminate unless your spouse chooses to continue the policy. Your spouse must be the sole primary beneficiary in order to continue the IPR 3.0 and the policy. If your spouse chooses to continue the IPR 3.0 and the policy, no death benefit proceeds will be paid upon your death.

*IPR 3.0 Death Benefit*

The IPR 3.0 Death Benefit is available in jurisdictions where approved (see "APPENDIX 3 – State Variations" for more information).

*For the 12, 13, 14 and 15 year Holding Periods:* 

If the Owner dies on or before the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 3.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount reduced by any Premium Credits applied within twelve (12) months of the date of death; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 3.0 Death Benefit in (b) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 3.0 Death Benefit immediately preceding the withdrawal. Premium Credits applied after the IPR 3.0 Holding Period End Date are not applied to the IPR 3.0 Death Benefit and therefore do not increase the IPR 3.0 Death Benefit.

*For the 20 year Holding Period:* 

If the Owner dies within the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies before the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(c).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 3.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A portion of the Guaranteed Amount which is determined by dividing the Guaranteed Amount by 150% reduced by any Premium Credits applied twelve (12) months of the date of death; or

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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;(c) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 3.0 Death Benefit in (c) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 3.0 Death Benefit immediately preceding the withdrawal. Premium Credits applied after the IPR 3.0 Holding Period End Date are not applied to the IPR 3.0 Death Benefit and therefore do not increase the IPR 3.0 Death Benefit.

Payment of a death benefit terminates the IPR 3.0.

**It is important to note that for purposes of calculating the Guaranteed Amount under the IPR 3.0 Death Benefit, Partial Withdrawals (including required minimum distributions) proportionally reduce the Guaranteed Amount while additional premium payments increase the Guaranteed Amount dollar for dollar. This means that under certain market conditions, a Partial Withdrawal could have a much more significant impact on the Guaranteed Amount (negatively) than would a premium payment made in the same amount (positively).** 

For example, assume that you are in your first Policy Year. You made an initial premium payment of $100,000 a Premium Credit of $3,000 is applied to your policy so your Guaranteed Amount is $103,000. Assume further, however, that your Accumulation Value immediately dropped due to negative market performance and is now only $80,000. If you requested a withdrawal of $20,000 at a time where your Accumulation Value was less that the Guaranteed Amount, the Guaranteed Amount Proportional Reduction would operate to lower the Guaranteed Amount by $25,750. Your Guaranteed Amount after the withdrawal would be $77,250. Although you only requested a withdrawal of $20,000, it resulted in a $25,750 reduction of the benefit guaranteed by the IPR 3.0. If, however, there had been no negative market performance and you made a premium payment of $20,000 a Premium Credit of $600 is applied to your policy instead of a withdrawal, the effect on your Guaranteed Amount would be to increase your Guaranteed Amount by $20,600 so that it is now $123,600. A withdrawal, therefore, may have a greater impact on the value of the benefit than would a payment made in the same amount. Please consult your registered representative before making a withdrawal to discuss its impact on your IPR benefit.

***Investment Preservation Rider 4.0 (IPR 4.0)***

The Investment Preservation Rider 4.0 ("IPR 4.0") is no longer available for purchase and was available only at the time of application. While IPR 4.0 is in effect, you may only make premium payments to the policy (a) in the first Policy Year or (b) after the Holding Period End Date. The IPR 4.0 allowed you to choose among five (5) different Holding Periods, depending on your initial premium payment and whether your policy's M&E Charges are Accumulation Value based or Premium Payment based, as shown on the following chart.

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **IPR 4.0 Availability by M&E Type and Holding Period** | **IPR 4.0 Availability by M&E Type and Holding Period** | **IPR 4.0 Availability by M&E Type and Holding Period** | **IPR 4.0 Availability by M&E Type and Holding Period** | **IPR 4.0 Availability by M&E Type and Holding Period** | **IPR 4.0 Availability by M&E Type and Holding Period** | **IPR 4.0 Availability by M&E Type and Holding Period** | **IPR 4.0 Availability by M&E Type and Holding Period** | **IPR 4.0 Availability by M&E Type and Holding Period** | **IPR 4.0 Availability by M&E Type and Holding Period** |
|  | **Accumulation Value–Based M&E Charge** | **Accumulation Value–Based M&E Charge** | **Accumulation Value–Based M&E Charge** | **Accumulation Value–Based M&E Charge** | **Accumulation Value–Based M&E Charge** | **Premium–Based M&E Charge** | **Premium–Based M&E Charge** | **Premium–Based M&E Charge** | **Premium–Based M&E Charge** | **Premium–Based M&E Charge** |
| **Minimum Initial** <br> **Premium Payment**<br>| **12** | **13** | **14** | **15** | **20** | **12** | **13** | **14** | **15** | **20** |
| **$499,999 or less** | × | × | × | × | × | √ | √ | √ | √ | × |
| **$500,000 or greater** | √ | √ | × | × | × | √ | √ | √ | √ | √ |

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If you purchased the IPR 4.0, you will be eligible to receive a one–time adjustment to your Accumulation Value in the event that your Accumulation Value is less than the amount guaranteed under the IPR 4.0 on the applicable Policy Anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you chose. You may request to reset the guaranteed amount (an "IPR Reset") under certain circumstances, as described below. Certain features of the IPR 4.0 relating to the 20 year Holding Period and the IPR 4.0 Death Benefit may not be available in all jurisdictions; contact your registered representative or see *"APPENDIX 3 – State Variations"* for more information.

The IPR 4.0 ends on the applicable Policy Anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you chose (See "DESCRIPTION OF BENEFITS–Investment Preservation Rider 4.0–IPR 4.0 Death Benefit" regarding the terms under which such death benefit may continue after the IPR 4.0 ends). The applicable Policy Anniversary depends on the Holding Period you chose. While the IPR 4.0 is in effect and prior to the Holding

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Period End Date, we will deduct a charge from your Accumulation Value on each policy quarter. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 and Investment Preservation Rider 5.0" and the Rate Sheet Prospectus Supplement for current charges.) When you make a withdrawal (including required minimum distributions from IRAs), we will reduce the amount that is guaranteed (the "Guaranteed Amount") under the IPR 4.0 proportionally ("Guaranteed Amount Proportional Reduction"). A Guaranteed Amount Proportional Reduction is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the Guaranteed Amount immediately preceding the withdrawal. For example, if you withdrew 10% of the Accumulation Value, your Guaranteed Amount will be reduced by 10%.

Please note that benefits payable under the IPR 4.0 are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third–party guarantees are involved.

The Guaranteed Amount under the IPR 4.0 is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(i) For the 12, 13, 14, or 15 year Holding Periods: The Guaranteed Amount will equal 100% of the sum of all premium payments made in the first Policy Year, plus any Premium Credits applicable to those premium payments, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) For the 20 year Holding Period: The Guaranteed Amount will equal 150% of the sum of all premium payments made in the first Policy Year, plus any Premium Credits applicable to those premium payments, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) IPR Reset:

You can decide to reset to increase the Guaranteed Amount under the IPR 4.0. You may request to reset the Guaranteed Amount at any time while the IPR 4.0 is in effect as long as (a) the Owner (oldest Owner, if the Policy is jointly owned) and the Annuitant (oldest Annuitant, if there are joint Annuitants) are age 75 or younger (for the 12, 13, 14 and 15 year Holding Periods), or age 70 or younger (for the 20 year Holding Period) and (b) prior to the reset, the Accumulation Value or 150% of the Accumulation Value (for the 20 year Holding Period) is greater than the Guaranteed Amount. For a reset, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset (the "Rider Reset Effective Date") and, at such time, the Guaranteed Amount will be increased to equal the Accumulation Value (for 12, 13, 14 and 15 year Holding Periods) or 150% of the Accumulation Value (for the 20 year Holding Period) on that date. After the reset(s), Guaranteed Amount Proportional Reductions still apply during the new Holding Period. Additionally, upon reset, the terms of the IPR Death Benefit for the 20 year Holding Period are also reset so that the Owner must hold the rider for a new minimum waiting period (within two years of the new Holding Period End Date), for the IPR Death Benefit to equal the Guaranteed Amount; if the death of the Owner is earlier than within two years of the new Holding Period End Date, the IPR Death Benefit will be the Accumulation Value as of the Rider Reset Effective Date less any proportional withdrawals. We may also set a new charge (not to exceed the guaranteed maximum charge in the "FEE TABLE") for the IPR 4.0 and the Rider Risk Charge Adjustment on the Rider Reset Effective Date. (See "CHARGES AND DEDUCTIONS-Optional Benefit Expenses-Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 and Investment Preservation Rider 5.0" and the Rate Sheet Prospectus Supplement for current charges and "CHARGES AND DEDUCTIONS-Optional Benefit Expenses-Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0"). In addition, upon reset, your allocation restrictions may change. When you reset, a new rider Holding Period with the same duration as the original rider Holding Period starts, that means, for example, if you purchase IPR 4.0 with a 12 year Holding Period, and you elect to reset in Policy Year four (4), a new 12 year Holding Period will begin on the Policy Anniversary immediately following the date we receive your request to reset. You will not be eligible to receive a one-time adjustment to your Accumulation Value until the Policy Anniversary following the end of the new rider Holding Period. **We can suspend or discontinue the ability to reset the Guaranteed Amount at any time in our sole discretion on a nondiscriminatory basis. If we decide to suspend or discontinue the ability to reset the Guaranteed Amount, we will promptly notify you in writing. Please contact your registered representative for more information.** 

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A policyowner may cancel an IPR Reset at any time prior to or within thirty (30) days after the Rider Reset Effective Date. If you cancel your request to reset, no change will be made to the Guaranteed Amount, Holding Period, Holding Period End Date, Rider Effective Date (if previously reset, the Rider Reset Effective Date), allocation restrictions, the IPR 4.0 Charge or Rider Risk Charge Adjustment, if applicable.

If you purchased IPR 4.0, you will be allowed to allocate your premium payments to the Investment Divisions, an available Asset Allocation Model and the DCA Advantage Account subject to the restrictions set forth in APPENDIX 1C.

The Fixed Account is not available while the IPR 4.0 is in effect and prior to the Holding Period End Date. Upon any termination of the IPR 4.0, the Fixed Account will be an available investment option. If you purchased the IPR 4.0, there will be limitations on how you allocate to the Investment Divisions. You may allocate your premium payment to Investment Divisions in the Asset Allocation Categories in accordance with the specified thresholds, or to one of the available Asset Allocation Models. Individual transfers between Investment Divisions, the DCA Advantage Account and/or Asset Allocation Models are not allowed. If you wish to complete an individual transfer between the Investment Divisions, or change to a different Asset Allocation Model (if available), you must send a reallocation form to the VPSC at one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus. Each policy quarter, we will automatically rebalance your current allocations to conform to your most recent allocation instructions. The Investment Division restrictions associated with the IPR 4.0 seek to moderate overall volatility or hedge against down–market volatility and may limit your participation in positive investment performance. Other investment options that are available if you did not purchase the IPR 4.0 may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with the IPR 4.0 meet your investment objectives and risk tolerance. The Asset Allocation Categories and the Asset Allocation Models available with IPR 4.0 are set forth in APPENDIX 1C.

If you choose an IPR Reset, the restrictions on investment allocations may change. These changes could include an adjustment to the minimum and/or maximum allocation percentages available under the Asset Allocation Categories, adding or removing Asset Allocation Categories, adding or removing Asset Allocation Models, or discontinuing the availability of the DCA Advantage Account.

With the IPR 4.0, you do not have to surrender the policy to receive any applicable benefit. You will be eligible to receive any benefit payable on the Policy Anniversary for the Holding Period you chose after the later of the Policy Date or the most recent reset date. You do not need to take any action. We will inform you in writing if you are eligible to receive the one–time adjustment to your Accumulation Value under the IPR 4.0. We will also inform you of your options in the event that such one–time adjustment is made to your Accumulation Value which are to (i) surrender the policy and receive the adjusted Accumulation Value (which may be subject to surrender charges), or (ii) continue the policy at the adjusted Accumulation Value, which is subject to market fluctuation. If you are eligible to receive an adjustment, we will credit an amount to your Accumulation Value pro rata in accordance with your allocations currently on file. If you surrender the policy, amounts paid to you under the IPR 4.0 may be taxable and you may be subject to a 10% penalty tax if such amounts are paid before you reach age 59½.

You may cancel the IPR 4.0 within thirty (30) days after delivery of the policy without incurring the Rider Risk Charge Adjustment. To cancel, you must return the IPR 4.0 to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel the IPR 4.0 and refund any IPR 4.0 charges which may have been deducted. After this 30–day period, you still have the right to discontinue the IPR 4.0, however, we will deduct a Rider Risk Charge Adjustment from your Accumulation Value and we will not refund any IPR 4.0 charges that may have been deducted. (See "Optional Benefit Expenses–Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0.") Certain jurisdictions may not permit us to assess a Rider Risk Charge Adjustment; for more information, contact your registered representative or see "APPENDIX 3–State Variations". The cancellation of the IPR 4.0 after the 30 day period will be effective as of the date VPSC receives your cancellation request. You should consider the cost of cancelling the IPR 4.0 prior to purchasing it.

The IPR 4.0 was available with all Non–Qualified (other than Inherited Non–Qualified policies), IRA, SEP IRA, Simple IRA, Roth IRA, Keogh and Pension policies if the Owner (oldest Owner, if the policy is jointly owned) and the Annuitant (oldest Annuitant, if the policy had joint Annuitants) are age 75 or younger (70 or younger for the 20–year Holding Period) on the Rider Effective Date. The rider was not available on TSA, Inherited IRA, Inherited Roth IRA or Inherited Non–Qualified policies.

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The IPR 4.0 will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to receive a potential one–time adjustment to your Accumulation Value. Therefore, you should purchase the IPR 4.0 only if you intend to keep the policy for at least the rider Holding Period you choose (12, 13, 14, 15 or 20 years).

In most jurisdictions, the IPR 4.0 will terminate if an ownership change or assignment of the policy is made, other than as explicitly described in the rider.

Any withdrawal reduces the Guaranteed Amount proportionally and the amount of charges assessed for the IPR 4.0. While the IPR 4.0 is in effect, withdrawals will be deducted proportionally from the Allocation Options. However, please note that charges assessed for the IPR 4.0 prior to the date of any withdrawal (including required minimum distributions from IRAs) will not be retroactively adjusted. **It is important to note that if you make any withdrawals (including required minimum distributions from IRAs) while the IPR 4.0 is in effect, you may not be able to receive the full value of the IPR 4.0. The reduction in the Guaranteed Amount may be significant and could be greater than the actual amount withdrawn. This may occur when you request a withdrawal at a time when your Accumulation Value is lower than the Guaranteed Amount (see example below). As a result, the IPR 4.0 may not be appropriate for you if you intend to take withdrawals (including required minimum distributions from IRAs) before the end of the Holding Period you choose. You should consult your tax advisor if you have any questions about the use of the IPR 4.0 in your tax situation.** 

We have set forth below an example of how the benefit from the IPR 4.0 may be realized and how withdrawals (including required minimum distributions from IRAs) will impact the Guaranteed Amount and how we calculate the Guaranteed Amount Proportional Reduction. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR 4.0 with a 12, 13, 14, or 15 year Holding Period is purchased at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) A Premium Credit of $3,000 is applied to your policy;

&nbsp;&nbsp;&nbsp;&nbsp;(4) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(5) A withdrawal of $20,000 is made in the eighth policy year;

&nbsp;&nbsp;&nbsp;&nbsp;(6) The Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(7) As of the Holding Period End Date, the Accumulation Value on the Policy Anniversary corresponding to the Holding Period you chose has decreased to $50,000.

The Guaranteed Amount when we issued the policy was $103,000. When the withdrawal was made in the eighth Policy Year, we reduced the Guaranteed Amount by the amount of the Guaranteed Amount Proportional Reduction. We calculated the amount of the Guaranteed Amount Proportional Reduction by taking the requested withdrawal amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the Guaranteed Amount immediately preceding the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Guaranteed Amount Proportional Reduction = ($20,000/$80,000) x $103,000 = $25,750

To determine the new Guaranteed Amount after the withdrawal, we subtracted the amount of the Guaranteed Amount Proportional Reduction from the initial Guaranteed Amount: ($103,000 – $25,750) = $77,250.

On the Policy Anniversary for the Holding Period you chose, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $77,250. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $27,750.

If you had chosen the 20 year Holding Period, your IPR Guarantee Percentage would have been 150% and the Guaranteed Amount when we issued the policy would have been $154,500. The Guaranteed Amount Proportional reduction in year eight would have been ($20,000/$80,000) x $154,500 = $38,625 and the Guaranteed Amount after the Guaranteed Amount Proportional Reduction would have been $115,875. On the Policy Anniversary for the 20 year Holding Period, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $115,875. Therefore, you would have been eligible to receive a one-time adjustment of $65,875.

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After the adjustment is paid, the rider will end (See "DESCRIPTION OF BENEFITS–Investment Preservation Rider 4.0–IPR 4.0 Death Benefit" regarding the terms under which such death benefit may continue after the IPR 4.0 ends). You would not have been eligible to receive this adjustment to your Accumulation Value if you had not purchased the IPR 4.0 Rider.

Upon your death, the IPR 4.0 and the policy will terminate unless your spouse chooses to continue the policy. Your spouse must be the sole primary beneficiary to continue the IPR 4.0 and the policy. If your spouse chooses to continue the IPR 4.0 and the policy, no death benefit proceeds will be paid upon your death.

*IPR 4.0 Death Benefit*

The IPR 4.0 Death Benefit is available in jurisdictions where approved (see *"APPENDIX 3 – State Variations"* for more information).

*For the 12, 13, 14 and 15 year Holding Periods:* 

If the Owner dies on or before the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 4.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount reduced by any Premium Credits applied within twelve (12) months of the date of death; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 4.0 Death Benefit in (b) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 4.0 Death Benefit immediately preceding the withdrawal. Premium Credits applied after the IPR 4.0 Holding Period End Date are not applied to the IPR 4.0 Death Benefit and therefore do not increase the IPR 4.0 Death Benefit.

*For the 20 year Holding Period:* 

If the Owner dies within the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies before the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(c).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

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

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 4.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A portion of the Guaranteed Amount which is determined by dividing the Guaranteed Amount by 150%, reduced by any Premium Credits applied within twelve (12) months of the date of death; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 4.0 Death Benefit in (c) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 4.0 Death Benefit immediately preceding the withdrawal. Premium Credits applied after the IPR 4.0 Holding Period End Date are not applied to the IPR 4.0 Death Benefit and therefore do not increase the IPR 4.0 Death Benefit.

Payment of a death benefit terminates the IPR 4.0.

**It is important to note that for purposes of calculating the Guaranteed Amount under the IPR 4.0 Death Benefit, Partial Withdrawals (including required minimum distributions) proportionally reduce the Guaranteed Amount while additional premium payments increase the Guaranteed Amount dollar for dollar. This means that under certain market conditions, a Partial Withdrawal could have a much more significant impact on the Guaranteed Amount (negatively) than would a premium payment made in the same amount (positively).** 

For example, assume that you are in your first Policy Year. You made an initial premium payment of $100,000 a Premium Credit of $3,000 is applied to your policy, so your Guaranteed Amount is $103,000. Assume further, however, that your Accumulation Value immediately dropped due to negative market performance and is now only $80,000. If you requested a withdrawal of $20,000 at a time where your Accumulation Value was less that the Guaranteed Amount, the Guaranteed Amount Proportional Reduction would operate to lower the Guaranteed Amount by $25,750. Your IPR Guaranteed Amount after the withdrawal would be $77,250. Although you only requested a withdrawal of $20,000, it resulted in a $25,750 reduction of the benefit guaranteed by the IPR 4.0. If, however, there had been no negative market performance and you made a premium payment of $20,000 a Premium Credit of $600 is applied to your policy instead of a withdrawal, the effect on your Guaranteed Amount would be to increase your Guaranteed Amount by $20,600 so that it is now $123,600. A withdrawal, therefore, may have a greater impact on the value of the benefit than would a payment made in the same amount. Please consult your registered representative before making a withdrawal to discuss its impact on your IPR benefit.

***Investment Preservation Rider 5.0 (IPR 5.0)***

The Investment Preservation Rider 5.0 ("IPR 5.0") is available only at the time of application. While IPR 5.0 is in effect, you may only make premium payments to the policy (a) in the first Policy Year or (b) after the Holding Period End Date. The IPR 5.0 allows you to choose among five (5) different Holding Periods depending on your initial premium payment and whether your policy's M&E Charges are Accumulation Value based or Premium Payment based, as shown on the following chart.

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **IPR 5.0 Availability by M&E Type and Holding Period** | **IPR 5.0 Availability by M&E Type and Holding Period** | **IPR 5.0 Availability by M&E Type and Holding Period** | **IPR 5.0 Availability by M&E Type and Holding Period** | **IPR 5.0 Availability by M&E Type and Holding Period** | **IPR 5.0 Availability by M&E Type and Holding Period** | **IPR 5.0 Availability by M&E Type and Holding Period** | **IPR 5.0 Availability by M&E Type and Holding Period** | **IPR 5.0 Availability by M&E Type and Holding Period** | **IPR 5.0 Availability by M&E Type and Holding Period** |
|  | **Accumulation Value–Based M&E Charge** | **Accumulation Value–Based M&E Charge** | **Accumulation Value–Based M&E Charge** | **Accumulation Value–Based M&E Charge** | **Accumulation Value–Based M&E Charge** | **Premium–Based M&E Charge** | **Premium–Based M&E Charge** | **Premium–Based M&E Charge** | **Premium–Based M&E Charge** | **Premium–Based M&E Charge** |
| **Minimum Initial** <br> **Premium Payment**<br>| **12** | **13** | **14** | **15** | **20** | **12** | **13** | **14** | **15** | **20** |
| **$499,999 or less** | × | × | × | × | × | √ | √ | √ | √ | × |
| **$500,000 or greater** | √ | √ | × | × | × | √ | √ | √ | √ | √ |

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If you purchase the IPR 5.0, you will be eligible to receive a one–time adjustment to your Accumulation Value in the event that your Accumulation Value is less than the amount guaranteed under the IPR 5.0 on the applicable policy anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose.

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The IPR 5.0 is available with all Non–Qualified (other than Inherited Non–Qualified policies), IRA, SEP IRA, Simple IRA, Roth IRA, Keogh and Pension policies if the Owner (oldest Owner, if the policy is jointly owned) and the Annuitant (oldest Annuitant, if the policy had joint Annuitants) are age 75 or younger (70 or younger for the 20–year Holding Period) on the Rider Effective Date. The rider is not available on TSA, Inherited IRA, Inherited Roth IRA or Inherited Non–Qualified policies.

With IPR 5.0, you do not have to surrender the policy to receive any applicable benefit. You will be eligible to receive any benefit payable on the Policy Anniversary for the Holding Period you chose after the later of the Policy Date or the most recent reset date. You do not need to take any action. We will inform you in writing if you are eligible to receive the one-time adjustment to your Accumulation Value under the IPR. We will also inform you of your options in the event that such one-time adjustment is made to your Accumulation Value which are to (i) surrender the policy and receive the adjusted Accumulation Value, or (ii) continue the policy at the adjusted Accumulation Value, which is subject to market fluctuation. If you are eligible to receive an adjustment, we will credit an amount to your Accumulation Value pro rata in accordance with your allocations currently on file. If you surrender the policy, amounts paid to you under the IPR 5.0 may be taxable and you may be subject to a 10% penalty tax if such amounts are paid before you reach age 59½.

You may request to reset the guaranteed amount (an "IPR 5.0 Reset") under certain circumstances, as described below. The IPR 5.0 ends on the applicable policy anniversary of the Rider Effective Date (or most recent reset date) for the Holding Period you choose (See "DESCRIPTION OF BENEFITS–Investment Preservation Rider–IPR 5.0 Death Benefit)" regarding the terms under which such death benefit may continue after the IPR 5.0 ends). The applicable policy anniversary depends on the Holding Period you choose. While the IPR 5.0 is in effect and prior to the Holding Period End Date, we will deduct a charge from your Accumulation Value on each policy quarter. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Charge for the Investment Preservation Rider 5.0" and the Rate Sheet Prospectus Supplement for current charges.) When you make a withdrawal (including required minimum distributions from IRAs), we will reduce the amount that is guaranteed (the "Guaranteed Amount") under the IPR 5.0 proportionally ("Guaranteed Amount Proportional Reduction"). A Guaranteed Amount Proportional Reduction is equal to the amount withdrawn from the policy (including any amount withdrawn for the surrender charge) divided by the Accumulation Value immediately preceding the withdrawal, multiplied by the Guaranteed Amount immediately preceding the withdrawal. For example, if you withdrew 10% of the Accumulation Value, your Guaranteed Amount under the IPR 5.0 will be reduced by 10%.

Please note that benefits payable under the IPR 5.0 are payable from NYLIAC's general account and are subject to the claims paying ability of NYLIAC. No third–party guarantees are involved.

*The IPR 5.0 Guaranteed Amount* 

The Guaranteed Amount under the IPR 5.0 is as follows:

For each of the 12, 13, 14, 15 or 20-year Holding Periods, the Guaranteed Amount will equal the IPR Guarantee Percentage of the sum of all premium payments made in the first Policy Year, plus any Premium Credits applicable to those premium payments, minus all Guaranteed Amount Proportional Reductions made during the rider Holding Period. The percentage used to determine the Guarantee Amount under the IPR 5.0 is subject to change and will depend on when you purchase your policy. Once you purchase the policy, however, the IPR Guarantee Percentage will not change for the life of the IPR 5.0. **For current percentages applicable to new purchases, please see the Rate Sheet Prospectus Supplement. See APPENDIX 4 for IPR 5.0 Guarantee Percentages that applied to historical purchases.** 

*IPR 5.0 Reset:* 

You can decide to reset to increase the IPR Guaranteed Amount under the IPR 5.0. You may request to reset the Guaranteed Amount at any time while the IPR 5.0 is in effect as long as (a) the Owner (oldest Owner, if the Policy is jointly owned) and the Annuitant (oldest Annuitant, if there are joint Annuitants) are age 75 or younger (for the 12, 13, 14 and 15 year Holding Periods), or age 70 or younger (for the 20 year Holding Period) and (b) prior to the reset, the Accumulation Value multiplied by the IPR Guarantee Percentage (as reflected in your policy) is greater than the Guaranteed Amount. For a reset, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The reset will take effect on the Policy Anniversary immediately following the date we receive your request to reset (the "Rider Reset Effective Date") and, at such time, the Guaranteed Amount will be increased to the IPR Guarantee Percentage (as reflected in your IPR rider

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data page) of the Accumulation Value as of the Rider Reset Effective Date. After the reset(s), Guaranteed Amount Proportional Reductions still apply to the new Holding Period. Additionally, upon reset of policies purchased on or before November 12, 2023, the terms of the IPR Death Benefit for the 20 year Holding Period are also reset so that the Owner must hold the rider for the new minimum waiting period (within two years of the new Holding Period End Date), for the IPR Death Benefit to equal the Guaranteed Amount; if the death of the Owner is earlier than within two years of the new Holding Period End Date, the IPR Death Benefit will be the Accumulation Value as of the Rider Reset Effective Date less any proportional withdrawals. For resets under policies purchased on or after November 13, 2023, for any Holding Period selected, where the Guarantee Percentage under the IPR 5.0 is 101% or more, the terms of the IPR Death Benefit are also reset so that the death of the Owner must be within or after the last two years of the new Holding Period End Date in order for the IPR Death Benefit to equal the Guaranteed Amount; if the death of the Owner is earlier than within two years of the new Holding Period End Date, the IPR Death Benefit will be the Accumulation Value as of the Rider Reset Effective Date less any proportional withdrawals. Please be advised that the charge you pay for the IPR 5.0 after you elect to reset may be different than the charges you paid prior to the Rider Reset Effective Date; provided, however, that such charges will never exceed the guaranteed maximum charge set forth in the "FEE TABLE." Please see the Rate Sheet Prospectus Supplement that is in effect as of your Rider Reset Effective Date for the charges that will apply to your IPR after the reset. In addition, upon reset, your allocation restrictions may change. Please consult your registered representative before exercising your right to reset.

If you elect to reset, a new rider Holding Period with the same duration as the original rider Holding Period will begin as of the Rider Reset Effective Date. This means, for example, if you purchase IPR 5.0 with a 12 year Holding Period, and you elect to reset in policy year four (4), a new 12 year Holding Period will begin on the Policy Anniversary immediately following the date we receive your request to reset. You will not be eligible to receive a one–time adjustment to your Accumulation Value until the Policy Anniversary following the end of the new rider Holding Period. **We can suspend or discontinue the ability to reset the Guaranteed Amount at any time in our sole discretion on a nondiscriminatory basis. If we decide to suspend or discontinue the ability to reset the Guaranteed Amount, we will promptly notify you in writing.** Please contact your registered representative for more information.

A policyowner may cancel an IPR Reset at any time prior to or within thirty (30) days after the Rider Reset Effective Date. If you cancel your request to reset, no change will be made to the Guaranteed Amount, Holding Period, Holding Period End Date, Rider Effective Date (if previously reset, the Rider Reset Effective Date), allocation restrictions, the IPR 5.0 Charge or Rider Risk Charge Adjustment, if applicable.

*Example of an IPR 5.0 Reset* 

In this example we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR 5.0 with a 12-year Holding Period is purchased at the time of application:

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made. A Premium Credit of $3,000 is applied to your policy;

&nbsp;&nbsp;&nbsp;&nbsp;(3) Your IPR Guarantee Percentage is 100%; therefore, the Guaranteed Amount equals 100% of the sum of all premium payments that we receive in the first Policy Year, plus any Premium Credits applicable to those premium payments, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period;

&nbsp;&nbsp;&nbsp;&nbsp;(4) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(5) On Policy Year 4, after deduction of all cumulative policy fees and charges, your Accumulation Value increases due to market gain to $130,000;

&nbsp;&nbsp;&nbsp;&nbsp;(6) Because you have experienced market gains by Policy Year 4, you decide to request an IPR Reset as of the 4th Policy Anniversary;

&nbsp;&nbsp;&nbsp;&nbsp;(7) After the reset, your new Guaranteed Amount is $130,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(8) Your Holding Period End Date is extended an additional 12 years (Policy Year 16).

*IPR Investment Restrictions* 

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If you purchase IPR 5.0, there will be limitations on how you allocate your premium payments. You will be allowed to allocate your premium payments to the Investment Divisions and the DCA Advantage Account subject to the restrictions set forth in APPENDIX 1C (for the 12–15 and 20–year Holding Period options).

The Fixed Account is not available while the IPR 5.0 is in effect and prior to the Holding Period End Date. Upon any termination of the IPR 5.0, the Fixed Account will be an available investment option. If you purchase the IPR 5.0, there will be limitations on how you allocate to the Investment Divisions. You may allocate your premium payment to Investment Divisions in the Asset Allocation Categories in accordance with the specified thresholds. Individual transfers between Investment Divisions and the DCA Advantage Account are not allowed. If you wish to complete an individual transfer between the Investment Divisions, you must send a reallocation form to the VPSC at one of the addresses in the "CONTACTING NYLIAC" section of this Prospectus. Each policy quarter, we will automatically rebalance your current allocations to conform to your most recent allocation instructions. The Investment Division restrictions associated with the IPR 5.0 seek to moderate overall volatility or hedge against down–market volatility and may limit your participation in positive investment performance. Other investment options that are available if you do not purchase the IPR 5.0 may offer the potential for higher returns. You should consult with your registered representative and carefully consider whether the Investment Division restrictions associated with the IPR 5.0 meet your investment objectives and risk tolerance. The Asset Allocation Categories available with IPR 5.0 are set forth in APPENDIX 1C (for the 12–15 and 20–year Holding Period options).

If you choose an IPR Reset, the restrictions on investment allocations may change. These changes could include an adjustment to the minimum and/or maximum allocation percentages available under the Asset Allocation Categories, adding or removing Asset Allocation Categories, or discontinuing the availability of the DCA Advantage Account.

*The Effects of Cancelling IPR 5.0* 

You may cancel the IPR 5.0 within thirty (30) days after delivery of the policy without incurring the Rider Risk Charge Adjustment. To cancel, you must return the IPR 5.0 to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or to the registered representative through whom you purchased it with a written request for cancellation. Upon receipt of this request, we will promptly cancel the IPR 5.0 and refund any IPR 5.0 charges which may have been deducted. After this 30–day period, you still have the right to discontinue the IPR 5.0, however, we will deduct a Rider Risk Charge Adjustment from your Accumulation Value and we will not refund any IPR 5.0 charges that may have been deducted. (See "CHARGES AND DEDUCTIONS–Optional Benefit Expenses–Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 (Cancellation Charge).") Certain jurisdictions may not permit us to assess a Rider Risk Charge Adjustment; for more information, contact your registered representative or see "APPENDIX 3 –State Variations". The cancellation of the IPR 5.0 after the 30 day period will be effective as of the date VPSC receives your cancellation request. You should consider the cost of cancelling the IPR 5.0 prior to purchasing it.

The IPR 5.0 will provide no benefit if you surrender the policy before the Policy Anniversary on which you are eligible to receive a potential one–time adjustment to your Accumulation Value. Therefore, you should purchase the IPR 5.0 only if you intend to keep the policy for at least the rider Holding Period you choose (12, 13, 14, 15 or 20 years).

In most jurisdictions, the IPR 5.0 will terminate if an ownership change or assignment of the policy is made, other than as explicitly described in the rider.

*The Effects of Withdrawals on IPR 5.0* 

Any withdrawal (including required minimum distributions from IRAs) reduces the Guaranteed Amount proportionally and the amount of charges assessed for the IPR 5.0. While the IPR 5.0 is in effect, withdrawals will be deducted proportionally from the Allocation Options. However, please note that charges assessed for the IPR 5.0 prior to the date of any withdrawal (including required minimum distributions from IRAs) will not be retroactively adjusted. **It is important to note that if you make any withdrawals (including required minimum distributions from IRAs) while the IPR 5.0 is in effect, you may not be able to receive the full value of the IPR 5.0. The reduction in the Guaranteed Amount may be significant and could be greater than the actual amount withdrawn. This may occur when you request a withdrawal at a time when your Accumulation Value is lower than the Guaranteed Amount. As a result, the IPR 5.0 may not be appropriate for you if you intend to take withdrawals (including** 

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**required minimum distributions from IRAs) before the end of the Holding Period you choose. You should consult your tax advisor if you have any questions about the use of the IPR 5.0 in your tax situation.** 

*Example of the Benefit under IPR 5.0* 

We have set forth below an example of how the benefit from the IPR 5.0 may be realized. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR 5.0 with a 12-year Holding Period is purchased at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made. A Premium Credit of $3,000 is applied to your policy;

&nbsp;&nbsp;&nbsp;&nbsp;(3) Your IPR Guarantee Percentage is 100%; therefore, the Guaranteed Amount equals 100% of the sum of all premium payments that we receive in the first Policy Year plus any Premium Credits applicable to those premium payments, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(4) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(5) No withdrawals are made; and

&nbsp;&nbsp;&nbsp;&nbsp;(6) As of the Holding Period End Date, the Accumulation Value on the Policy Anniversary corresponding to the Holding Period you chose has decreased to $50,000.

The Guaranteed Amount when we issued the policy was $103,000.

On the Policy Anniversary for the Holding Period you chose, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $103,000. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $53,000 to make it equal to the Guaranteed Amount of $103,000.

*Example of the Effects of Withdrawals on IPR 5.0* 

We have set forth below an example of how the benefit from the IPR 5.0 may be realized and how withdrawals (including required minimum distributions from IRAs) will impact the Guaranteed Amount and how we calculate the Guaranteed Amount Proportional Reduction.

In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR 5.0 with a 12-year Holding Period is purchased at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) An initial premium payment of $100,000 is made;

&nbsp;&nbsp;&nbsp;&nbsp;(3) A premium credit of $3,000 is applied to your policy;

&nbsp;&nbsp;&nbsp;&nbsp;(4) Your IPR Guarantee Percentage is 100%; therefore, the Guarantee Amount equals 100% of the sum of all premium payments that we receive in the first Policy Year plus any Premium Credits applicable to those premium payments, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(5) No additional premium payments are made;

&nbsp;&nbsp;&nbsp;&nbsp;(6) A withdrawal of $20,000 is made in the eighth policy year;

&nbsp;&nbsp;&nbsp;&nbsp;(7) The Accumulation Value immediately preceding the withdrawal has decreased to $80,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(8) As of the Holding Period End Date, the Accumulation Value on the Policy Anniversary corresponding to the Holding Period you chose has decreased to $50,000.

The Guaranteed Amount when we issued the policy was $103,000. When the withdrawal was made in the eighth Policy Year, we reduced the Guaranteed Amount by the amount of the Guaranteed Amount Proportional Reduction. We calculated the amount of the Guaranteed Amount Proportional Reduction by taking the requested withdrawal

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amount, dividing it by the Accumulation Value immediately preceding the withdrawal, and then multiplying that number by the Guaranteed Amount immediately preceding the withdrawal as follows:

Guaranteed Amount Proportional Reduction = ($20,000/$80,000) x $103,000 = $25,750

To determine the new Guaranteed Amount after the withdrawal, we subtracted the amount of the Guaranteed Amount Proportional Reduction from the initial Guaranteed Amount: ($103,000 – $25,750) = $77,250.

On the Policy Anniversary for the Holding Period you chose, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $77,250. Therefore, you are eligible to receive a one–time adjustment to your Accumulation Value of $50,000 to make it equal to the Guaranteed Amount of $77,250.

If you had chosen the 20 year Holding Period, assuming an IPR Guarantee Percentage of 150%, the Guaranteed Amount when we issued the policy would have been $154,500. The Guaranteed Amount Proportional reduction in year eight would have been ($20,000/$80,000) x $154,500 = $38,625 and the Guaranteed Amount after the Guaranteed Amount Proportional Reduction would have been $115,875. On the Policy Anniversary for the 20 year Holding Period, the Accumulation Value ($50,000) is less than the Guaranteed Amount of $115,875. Therefore, you would have been eligible to receive a one-time adjustment of $65,875

After the adjustment is paid, the rider will end. (See "DESCRIPTION OF BENEFITS-Investment Preservation Rider 5.0-IPR 5.0 Death Benefit" regarding the terms under which such death benefit may continue after the IPR 5.0 ends). You would not have been able to receive this adjustment to your Accumulation Value if you had not purchased the IPR 5.0 Rider.

Upon your death, the IPR 5.0 and the policy will terminate unless your spouse chooses to continue the policy. Your spouse must be the sole primary beneficiary to continue the IPR 5.0 and the policy. If you spouse chooses to continue the IPR 5.0 and the policy, no death benefit proceeds will be paid upon your death.

*IPR 5.0 Death Benefit*

The IPR 5.0 Death Benefit is available in jurisdictions where approved (see *"APPENDIX 3 – State Variations"* for more information).

<u>If you purchased your policy on or prior to November 12, 2023</u>:

*For the 12, 13, 14 and 15 year Holding Periods:* 

If the Owner dies on or before the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 5.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount reduced by any Premium Credits applied within twelve (12) months of the date of death; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 5.0 Death Benefit in (b) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 5.0 Death Benefit immediately preceding the withdrawal. Premium Credits applied after the IPR 5.0 Holding Period End Date are not applied to the IPR 5.0 Death Benefit and therefore do not increase the IPR 5.0 Death Benefit.

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*For the 20 year Holding Period:* 

If the Owner dies within the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies before the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(c).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 5.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A portion of the Guaranteed Amount which is determined by dividing the Guaranteed Amount by the applicable IPR Guarantee Percentage as reflected on your IPR rider data page (See the Rate Sheet Prospectus Supplement for the IPR Guarantee Percentage applicable for new purchases) reduced by any Premium Credits applied within twelve (12) months of the date of death; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 5.0 Death Benefit in (c) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 5.0 Death Benefit immediately preceding the withdrawal. Premium Credits applied after the IPR 5.0 Holding Period End Date are not applied to the IPR 5.0 Death Benefit and therefore do not increase the IPR 5.0 Death Benefit.

<u>If you purchased your policy on or after November 13, 2023:</u> 

For policies where the IPR Guarantee Percentage is 100% or less:

If the Owner dies on or before the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit-Death Before Annuity Commencement").

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 5.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount reduced by any Premium Credits applied within twelve (12) months of the date of death; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 5.0 Death Benefit in (b) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's

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Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 5.0 Death Benefit immediately preceding the withdrawal.

For Policies where the IPR Guarantee Percentage is 101% or more:

If the Owner dies within the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(a).

If the Owner dies before the last two (2) years of the rider Holding Period and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(b).

If the Owner dies after the Holding Period End Date and the Owner's spouse does not continue the policy pursuant to the policy's death benefit provisions, the death benefit will be equal to the greatest of 1, 2 and 3(c).

&nbsp;&nbsp;&nbsp;&nbsp;(1) The amount of the death benefit payable under the policy. (See "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement".)

&nbsp;&nbsp;&nbsp;&nbsp;(2) Any death benefit available under any other rider attached to the policy.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 5.0 Death Benefit, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Guaranteed Amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A portion of the Guaranteed Amount which is determined by dividing the Guaranteed Amount by the applicable IPR Guarantee Percentage as reflected on your IPR rider data page (See the Rate Sheet Prospectus Supplement for the IPR Guarantee Percentage applicable for new purchases) reduced by any Premium Credits applied within twelve (12) months of the date of death; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Guaranteed Amount on the Holding Period End Date, increased by any premium payments received after the Holding Period End Date and reduced proportionally for withdrawals taken after the Holding Period End Date.

For the IPR 5.0 Death Benefit in (c) above, the proportional reduction for withdrawals is equal to the amount withdrawn (including any Surrender Charges that you may incur as a result of the withdrawal), divided by the policy's Accumulation Value immediately preceding the withdrawal, multiplied by the IPR 5.0 Death Benefit immediately preceding the withdrawal. Premium Credits applied after the IPR 5.0 Holding Period End Date are not applied to the IPR 5.0 Death Benefit and therefore do not increase the IPR 5.0 Death Benefit.

**It is important to note that for purposes of calculating the Guaranteed Amount under the IPR 5.0 Death Benefit, Partial Withdrawals (including required minimum distributions) proportionally reduce the Guaranteed Amount while additional premium payments increase the Guaranteed Amount dollar for dollar. This means that under certain market conditions, a Partial Withdrawal could have a much more significant impact on the Guaranteed Amount (negatively) than would a premium payment made in the same amount (positively).** 

Payment of a death benefit terminates the IPR 5.0. Upon your death, the IPR 5.0 and the policy will terminate unless your spouse chooses to continue the policy. Your spouse must be the sole primary beneficiary to continue the IPR 5.0 and the policy. If your spouse chooses to continue the IPR 5.0 and the policy, no death benefit proceeds will be paid upon your death.

*Example of Calculation of the Death Benefit:* 

For this example, assume:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR 5.0 with a 12 year Holding Period is purchased at the time of application;

&nbsp;&nbsp;&nbsp;&nbsp;(2) You made an initial premium payment of $100,000. A Premium Credit of $3,000 is applied to your policy;

&nbsp;&nbsp;&nbsp;&nbsp;(3) No additional premiums are made;

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

&nbsp;&nbsp;&nbsp;&nbsp;(4) Your IPR Guarantee Percentage is 100%; therefore, the Guaranteed Amount is 100% of the sum of all premium payments that we receive in the first Policy Year, plus any Premium Credits applicable to those premium payments, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period;

&nbsp;&nbsp;&nbsp;&nbsp;(5) As of the fourth Policy Anniversary, an IPR Reset is requested because the Accumulation Value has increased to $150,000. After the reset, the new Guaranteed Amount is increased to $150,000 and a new Holding Period has begun;

&nbsp;&nbsp;&nbsp;&nbsp;(6) You die in the fifth Policy Year, and the Accumulation Value upon death is now $140,000 due to market fluctuations;

Upon death in the fifth Policy Year, the death benefit payable is the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;(1) The Standard Death Benefit, which is The Accumulation Value upon death = $140,000 or;

&nbsp;&nbsp;&nbsp;&nbsp;(2) The Return of Premium Death Benefit = $100,000 or;

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 5.0 Death Benefit which is the IPR Guaranteed Amount = $150,000

In this example, your beneficiary would receive the IPR 5.0 Death Benefit amount of $150,000.

For this example, assume:

&nbsp;&nbsp;&nbsp;&nbsp;(1) IPR 5.0 with a 12 year Holding Period is purchased at the time of application on or after November 13, 2023;

&nbsp;&nbsp;&nbsp;&nbsp;(2) You made an initial premium payment of $100,000. A Premium Credit of $3,000 is applied to your policy;

&nbsp;&nbsp;&nbsp;&nbsp;(3) No additional premiums are made;

&nbsp;&nbsp;&nbsp;&nbsp;(4) Your IPR Guarantee Percentage is 105%; therefore, the Guaranteed Amount is 105% of the sum of all premium payments that we receive in the first Policy Year, plus any Premium Credits applicable to those premium payments, less all Guaranteed Amount Proportional Reductions made during the rider Holding Period;

&nbsp;&nbsp;&nbsp;&nbsp;(5) As of the fourth Policy Anniversary, an IPR Reset is requested because the Accumulation Value has increased to $150,000. After the reset, the new Guaranteed Amount is increased to $157,500 and a new Holding Period has begun;

&nbsp;&nbsp;&nbsp;&nbsp;(6) You die in the fifth Policy Year, and the Accumulation Value upon death is now $140,000 due to market fluctuations;

Upon death in the fifth Policy Year, the death benefit payable is the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;(1) The Standard Death Benefit, which is The Accumulation Value upon death = $140,000 or;

&nbsp;&nbsp;&nbsp;&nbsp;(2) The Return of Premium Death Benefit = $100,000 or;

&nbsp;&nbsp;&nbsp;&nbsp;(3) The IPR 5.0 Death Benefit which is the IPR Guaranteed Amount = $150,000 (calculated as follows $157,500 / 105% = $150,000) (the Guaranteed Amount is not payable because death occurred prior to the last two years of the new Holding Period End Date.).

In this example, your beneficiary would receive the IPR 5.0 Death Benefit amount of $150,000. If death occurred within or after the last two years of the new Holding Period End Date, the IPR 5.0 Death Benefit would have been $157,500.

*Example of Spousal Continuance with the IPR* 

Using the first death benefit calculation example of purchasing an IPR with a 12 year Holding Period, assume that instead of electing the IPR Death Benefit when the policyowner died in Policy Year 5, the surviving spouse elected to

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continue the policy as the new Owner. All of the values that existed at the time of the original policyowner's death would simply continue as though the spouse as the new Owner had purchased the policy on the original Policy Date. For example:

&nbsp;&nbsp;&nbsp;&nbsp;(1) The IPR Guaranteed Amount would be $150,000 because the deceased spouse reset in Policy Year 4. Since a new 12 year Holding Period because upon the reset, there are 11 years left in the IPR Holding Period.

&nbsp;&nbsp;&nbsp;&nbsp;(2) The Accumulation Value in Policy Year 5 at the time of death is still $140,000 and the policy will continue. The surviving spouse has all the rights under the policy, including the ability to make transfers, premium payments and withdrawals. The surviving spouse may also elect to reset the IPR Guaranteed Amount if he or she chooses.

Please note that for jointly-owned policies, a spouse can only elect to continue the policy if the surviving spouse has been designated the sole primary beneficiary of the policy. If someone other than the surviving spouse is designated as a beneficiary, the spousal continuance option is not available.

***Living Needs Benefit/Unemployment Rider***

This rider is available at no additional cost. Rider benefits and requirements to qualify for the rider benefits may not be the same in all jurisdictions. We include a Living Needs Benefit/Unemployment Rider for all types of policies. In Connecticut, the rider is named the "Living Needs Benefit Rider" and the Unemployment and Disability portions of the rider are not available. In New York, the rider is named "Waiver Of Surrender Charges For Living Needs Qualifying Events" and the Unemployment portion of the rider is not available. In New Jersey, the rider is named the "Living Needs Benefit Rider" and the Unemployment portion of the rider is not available.

The Living Needs Benefit/Unemployment Rider will waive all surrender charges (or a portion of surrender charges in the case of Unemployment), if you provide satisfactory proof that the Owner has experienced a Qualifying Event (as defined below). In order to receive the benefit associated with this rider, your policy must have been in force for at least one year and have a minimum Accumulation Value of $5,000 and the Qualifying Event must occur on or after the Policy Date. For the Disability portion of the rider, any withdrawal after your 66<sup>th</sup> birthday will not be eligible for the rider benefit and surrender charges may apply. For the Unemployment portion of the rider, we will waive surrender charges on a one-time withdrawal of up to 50% of your Accumulation Value. Surrender charges will apply on amounts withdrawn in excess of that amount and on subsequent withdrawals. In addition, none of the benefits of this rider are available for policies where any Owner(s) has attained their 86<sup>th</sup> birthday on the Policy Date. If the Owner(s) is not a natural person, all restrictions and benefits of the rider are based on the Annuitant.

The types of Qualifying Events are defined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(a) Health Care Facility (defined as a state licensed/certified nursing home/assisted living facility): The Owner is enrolled and living in a Health Care Facility for 60 consecutive days.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Terminal Illness: A determination by a licensed physician that the Owner has a life expectancy of 12 months or less.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Disability: A determination by a licensed physician that the Owner has a disability that prevents them from performing any work for pay or profit for at least 12 consecutive months. We may require proof of continued disability as of the date of the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Unemployment: A determination letter from the applicable state's Department of Labor that the Owner qualifies for and has been receiving state unemployment benefits for 60 consecutive days.

A Health Care Facility is defined as a state licensed/certified nursing home/assisted living facility. In addition, we may also require proof of continued disability as of the date of the withdrawal.

For example, if an Owner with $100,000 in Accumulation Value experiences one of the Qualifying Events described in (a) – (c) above in Policy Year 3, he or she will be able to take withdrawals from his or her policy without having to pay a surrender charge on such withdrawals for as long as the Owner satisfies the conditions of eligibility. If the Owner were to experience the Qualifying Event of Unemployment in (d) in Policy Year 3, he or she would be able to make a one-time withdrawal of up to $50,000 without having to pay a surrender charge on such withdrawal. If he or

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she were to withdraw in excess of $50,000, he or she would pay a surrender charge on the amount exceeding $50,000 and on any subsequent withdrawals.

You will be able to receive benefits under this rider the later of the date you meet the above requirements or the date we receive your documentation in Good Order at the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

***The Future Income Rider***

The Future Income Rider ("FIR") is not available for applications signed on or after May 1, 2017. The FIR was included with most policies issued prior to May 1, 2017 at no additional charge (other than certain qualified plans; see APPENDIX 2 for more information). The FIR allows you to apply a portion of your policy's Variable Accumulation Value to purchase a stream of guaranteed annuity Income Payments for the lifetime of the Annuitant(s) (a "Future Income Purchase"), starting on the Future Income Start Date. Future Income Purchases are maintained in NYLIAC's general account, and guarantees under the FIR are backed solely by the claims–paying ability of the NYLIAC general account.

**Future Income Purchases.** You can choose if and when to make a Future Income Purchase, subject to an initial waiting period. Generally, you must wait until after the first Policy Anniversary following a Premium Payment to make a Future Income Purchase using amounts from that Premium Payment. However, before the first Policy Anniversary, you can make Future Income Purchases that are less than or equal to the amount by which the Accumulation Value exceeds the value of Premium Payments during that time. After the waiting period, you can make a Future Income Purchase at any time before you annuitize the policy and until two years before the Future Income Start Date. You choose a Future Income Start Date when you make your first Future Income Purchase. Currently, there is no limit on the total number of Future Income Purchases you can make while your policy is in effect. However, in the future we may limit the total number of Future Income Purchases you can make. If we decide to impose a limit, we will provide you with at least thirty (30) days' notice. Future Income Purchases are not required.

The minimum Future Income Purchase amount is $5,000 for the initial Future Income Purchase, and $100 for subsequent purchases. Total Future Income Purchases cannot be more than $1,000,000. You can make no more than twelve (12) Future Income Purchases in any Policy Year. Future Income Purchases are made through deductions taken from your Policy's Variable Accumulation Value. To make a Future Income Purchase, you can send a written request to one of the addresses provided the "CONTACTING NYLIAC" section of this Prospectus. We will process your request at the close of the Business Day on which it is received by NYLIAC. NYLIAC may limit total Future Income Purchases to 25% of Accumulation Value in a given Policy Year. If we decide to impose a limit, we will provide you with at least thirty (30) days' notice.

When you make a Future Income Purchase, you can specify from which Investment Divisions the Future Income Purchase amount should be deducted. You can choose to fund the Future Income Purchase with a pro–rata deduction from all your Investment Divisions, or you can select particular Investment Divisions from which to deduct the Future Income Purchase amount, unless you have elected one of the investment preservation riders. Because of the Investment Division restrictions with one of the investment preservation riders, deductions from the Investment Divisions for Future Income Purchase will be made on a pro–rata basis while the applicable investment preservation rider is in effect. You cannot use amounts in the DCA Advantage Account or the Fixed Account for a Future Income Purchase. There are no surrender charges on amounts deducted from your Variable Accumulation Value to make a Future Income Purchase. For the purposes of calculating the guaranteed amount under the applicable investment preservation rider or the amount of a death benefit under the base policy or the ADBR, a Future Income Purchase will be considered to be a withdrawal from the policy and will proportionally reduce the guaranteed amounts under these riders.

You can also make Future Income Purchases on a recurring basis by setting up systematic Future Income Purchases. The VPSC must receive a completed Future Income Purchase Form requesting systematic purchases at least five (5) Business Days before the date purchases are scheduled to begin. If your request for this option is received less than five (5) Business Days prior to the date you request purchases to begin, the systematic purchases will begin the month following the receipt of your request on the day of the month you specified, or if that day is not a Business Day, on the next Business Day.

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The amount of future income purchased depends on the Future Income Purchase rate in effect on the day you make the purchase, as determined by NYLIAC, as well as other factors, including the Age and sex of the Annuitant(s), the Future Income Purchase amount and the length of time before Future Income Payments are scheduled to begin. After each Future Income Purchase, we will send you a confirmation statement containing the amount of income you purchased.

You can cancel a Future Income Purchase by sending a written notice to one of the addresses provided in the "CONTACTING NYLIAC" section of this Prospectus within ten (10) days after you receive written confirmation of that Future Income Purchase. If you do not cancel a Future Income Purchase, it will be deemed final and will be used to provide the Future Income Payment amount noted in the confirmation. Once final, the amount of the Future Income Purchase cannot be returned to the Investment Divisions and cannot be withdrawn or surrendered. If you cancel a Future Income Purchase, you cannot make another Future Income Purchase for ninety (90) days from the date of the cancelled purchase. **Any Variable Accumulation Value used for a Future Income Purchase can only be accessed through the receipt of Future Income Payments, starting on the Future Income Start Date. Once a portion of your Variable Accumulation Value is used to make a Future Income Purchase, it is no longer available to you on a full or partial surrender of your Policy, or upon a full or partial annuitization, unless the Future Income Purchase is reversed during the cancellation period. Accordingly, before making a Future Income Purchase, you should consider your liquidity needs. Variable Accumulation Value used to make Future Income Purchases is no longer invested in the Investment Divisions and will not earn any interest.** 

**Future Income Payments.** If an Annuitant is living, we will make Future Income Payments to the Payee you designate, beginning on the Future Income Start Date. Future Income Payments will continue for the lifetime of the Annuitant (or last surviving Annuitant, for joint Annuitant policies). The amount of a Future Income Payment is based on, among other things, the Future Income Purchase rates in effect when you make the Future Income Purchase, the Age and sex of the Annuitant(s), the Future Income Purchase amount and the length of time before Future Income Payments are scheduled to begin. The guaranteed lifetime income from the FIR could be higher or lower than the amount you might receive if you purchased a similar product that is offered by us or by another company.

If you choose to make multiple Future Income Purchases, the amount of your Future Income Payments will be greater after each purchase. We will send you a written confirmation of the change in the Future Income Payment amount after each purchase. Please refer to the rider Data Page for more information about how the Future Income Purchase rate and the resulting Future Income Payment amount are determined.

Full or partial surrenders or annuitizations will not affect Future Income Payment amounts. Please note, however, even if you surrender the Policy, we will not make any Future Income Payments until the Future Income Start Date.

You can make a one–time change to the Future Income Start Date that you chose when you made your first Future Income Purchase. The earliest Future Income Payment Start Date you can change to is thirteen (13) months from the date of your last Future Income Purchase, and the latest date is five (5) years after the original Future Income Start Date you chose, or the year in which the Annuitant (oldest joint Annuitant, if applicable) is age 85, if earlier. Note, however that with Traditional IRA policies, the Future Income Start Date cannot be deferred later than April 1 of the year following the year when the Owner reaches their applicable age (see "DISTRIBUTIONS UNDER THE POLICY – Required Minimum Distributions"). For Qualified Policies, a change in the Future Income Start Date to an earlier date may be subject to Code restrictions applicable to required minimum distributions. If a change in the Future Income Start Date would result in Future Income Payments that violate those Code restrictions, we will inform you that you may revise your request to an allowable Future Income Start Date. If the Future Income Start Date is accelerated by five (5) years or less, we will increase the Future Income Payments, if necessary, to an amount that will satisfy Code restrictions. Accelerating the Future Income Start Date would likely result in a lower Future Income Payment and deferring the date would likely result in a higher payment. However, if you defer the date, you increase the chance that you may die before payments begin, or you could receive fewer payments before you die. If you choose to change the Future Income Start Date, the interest rate for recalculating your Future Income Payments will be determined according to a formula that appears on your rider Data Page. The formula includes a factor that will increase the interest rate used to recalculate the Future Income Payments for accelerations and decrease the interest rate used to recalculate Future Income Payments for deferrals. The rider Data Page has additional information about how accelerating or deferring the Future Income Start Date will affect your Future Income Payments. *APPENDIX 2* has information about restrictions on Income Start Dates under qualified plans.

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To change the Future Income Start Date, you must send the VPSC a request in writing or by any other method we make available, to one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

If the Annuitant is living on the Future Income Start Date, we will make Future Income Payments under the life with cash refund option to the designated Payee. For Non–Qualified Policies only, you also have the option to receive any eight (8) consecutive Future Income Payments in advance in a lump sum. This option can be exercised only three (3) times over the life of the Policy. This option is not available if you are under age 59½.

**Death Benefits under the FIR.** 

Death benefits under the FIR are in addition to death benefits payable under the base policy, which are described in "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement" and death benefits under the optional Annual Death Benefit Reset Rider, which are described in "DESCRIPTION OF BENEFITS—Annual Death Benefit Reset (ADBR) Rider". If you have made a Future Income Purchase, the FIR provides for the following death benefits:

&nbsp;&nbsp;&nbsp;&nbsp;● If the Policy ends due to the death of an Owner or Annuitant before the Policy is annuitized (i.e. when Income Payments under the policy begin) and before the Future Income Start Date, the FIR ends and we will pay the Beneficiary a death benefit in an amount equal to the cumulative Future Income Purchases.

&nbsp;&nbsp;&nbsp;&nbsp;● If the Policy ends because an Owner or Annuitant dies before the policy is annuitized and after the Future Income Start Date, we will continue to make Future Income Payments to the Payee, while an Annuitant is living. If no Annuitant is living or when the Annuitant dies (last surviving Annuitant for joint Annuitant policies), we will pay to your Beneficiary, even if the Payee is still living, a death benefit, if any, in an amount equal to the cumulative Future Income Purchases less the sum of Future Income Payments made as of the date of death of the Annuitant (last surviving Annuitant for joint Annuitant policies). The Payee is the individual or entity you have designated to receive Future Income Payments.

&nbsp;&nbsp;&nbsp;&nbsp;● If an Owner dies after the policy is annuitized and before the Future Income Start Date, the FIR ends and we will pay the Beneficiary a death benefit in an amount equal to the cumulative Future Income Purchases even if an Annuitant is still living.

&nbsp;&nbsp;&nbsp;&nbsp;● If an Owner dies after the policy is annuitized and after the Future Income Start Date, we will continue making Future Income Payments to the Payee while an Annuitant is living. If the Payee dies before the Annuitant, then we will make Future Income Payments to the Annuitant, unless you specify otherwise. If no Annuitant is living, or when the Annuitant dies (last surviving Annuitant for joint Annuitant policies), we will pay the Beneficiary, even if the Payee is still living, a death benefit, if any, in an amount equal to the cumulative Future Income Purchases less the sum of Future Income Payments made as of the date of death of the Annuitant (last surviving Annuitant for joint Annuitant policies).

**Death of an Annuitant under the FIR** 

If the policy is issued with one Annuitant, who is not the Owner, and the Annuitant dies before the Future Income Start Date, then you (the primary Owner) become the new Annuitant. We will increase the Variable Accumulation Value by an amount equal to the cumulative Future Income Purchases made while the Annuitant was living. We will apply the increase to the Investment Divisions on a pro–rata basis, based on the allocations in effect as of the date of the Annuitant's death. We will make this adjustment as of the date we receive proof of death for the Annuitant. No Future Income Payments will be made with the Future Income Purchases based on the original Annuitant's life. However, the Owner (who is now the new Annuitant) may make subsequent Future Income Purchases based on his or her own life.

For joint Annuitant policies, if an Annuitant who is not an Owner dies prior to the Future Income Start Date, you cannot add a new joint Annuitant, and we will not make any adjustments to the Variable Accumulation Value when a non–Owner Annuitant dies. You may continue to make Future Income Purchases based on the life of the surviving Annuitant. These purchases will be added to any joint life Future Income Purchases, made prior to the Annuitant's death, to provide Future Income Payments at the Future Income Start Date.

**Spousal Continuation and the FIR** 

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If the Owner dies before annuitizing the policy, and the Owner's spouse is eligible to continue the policy (see "DESCRIPTION OF BENEFITS – The Standard Death Benefit–Death Before Annuity Commencement", below), the following will occur if your spouse continues the policy:

&nbsp;&nbsp;&nbsp;&nbsp;● If you die before the Future Income Start Date, and you were the only Annuitant, and you have not made any Future Income Purchases, your Spouse may make Future Income Purchases based on his or her own life as the new Annuitant, subject to certain limitations specified in the FIR.

&nbsp;&nbsp;&nbsp;&nbsp;● If you die before the Future Income Start Date, and you were the only Annuitant, and you made Future Income Purchases, we will not make any Future Income Payments based on those Future Income Purchases. Instead, we will increase the Policy's Variable Accumulation Value by an amount equal to the total Future Income Purchases. We will apply the increase on a pro–rata basis, based on the Investment Division allocations in effect as of the date of your death. We will make this adjustment as of the date we receive proof of death for you. Following this adjustment, your spouse, who is now the Annuitant, may make Future Income Purchases based on his or her own life, subject to certain limitations in the FIR.

&nbsp;&nbsp;&nbsp;&nbsp;● If you and your spouse were joint Annuitants, after you die your spouse may make Future Income Purchases based on his or her own life, subject to certain limitations in the FIR, even if you made joint–life Future Income Purchases prior to your death. We will apply all Future Income Purchases that either or both of you made to Future Income Payments at the Future Income Start Date.

&nbsp;&nbsp;&nbsp;&nbsp;● If you were not an Annuitant, after you die your spouse may make Future Income Purchases based on the life of the Annuitant, or joint Annuitants, as applicable, and subject to the limitations of the FIR. We will apply all Future Income Purchases that either or both of you made to Future Income Payments.

If you die after the Future Income Start Date but before annuitizing the policy, the following will occur:

&nbsp;&nbsp;&nbsp;&nbsp;● We will continue to make Future Income Payments to the Payee for as long as an Annuitant is living. Your spouse may continue the policy.

Set forth below is an example of how the benefit under the FIR may be realized. In this example, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;(1) The policyowner is a 60-year-old woman in her fourth Policy Year;

&nbsp;&nbsp;&nbsp;&nbsp;(2) The policy has $100,000 of Accumulation Value;

&nbsp;&nbsp;&nbsp;&nbsp;(3) On May 1, 2021, the policyowner purchases $15,000 in Future Income with the Cash Refund Income Option and has chosen a Future Income Start Date of May 1, 2025; and

&nbsp;&nbsp;&nbsp;&nbsp;(4) The Accumulation Value of the policy decreased to $85,000 as a result. No surrender charges are assessed;

Based on the rate in effect for this policyowner on May 1, 2021, the policyowner will receive annual income starting on May 1, 2025 in the amount of $755.28.

***Automatic Asset Rebalancing***

This policy feature, which is available at no additional cost, allows you to automatically maintain the percentage of your Variable Accumulation Value allocated to each Investment Division at a pre-set level. **Unless you opt out of AAR on your application or in a subsequent notice, your policy will be subject to AAR.** 

*AAR works as follows:* 

You might specify that 50% of the Variable Accumulation Value of your policy be allocated to the NYLIM VP MacKay Convertible Investment Division and 50% of the Variable Accumulation Value be allocated to the NYLIM VP PineStone International Equity Investment Division. Over time, the fluctuations in returns from each of these Investment Divisions will shift the percentages of your Variable Accumulation Value in each Investment Division. Using AAR, NYLIAC will automatically transfer your Variable Accumulation Value back to the percentages you specify. AAR also applies if your Variable Accumulation Value is allocated to an Asset Allocation Model.

You can choose to have AAR transfers made on your quarterly, semi-annual, or annual Policy Anniversary.

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If at any time you elect not to use the AAR feature and then change your mind, you must send a completed AAR request form to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus or by any other method we make available. The VPSC must receive the completed AAR request form at least five Business Days before the date that the rebalancing is scheduled to begin. If we receive your completed AAR request form for this option less than five Business Days prior to the date you request rebalancing to begin, the reallocation will begin on the next rebalancing date based on the rebalancing frequency you selected. Faxed and e-mailed AAR requests are not currently accepted; however, we reserve the right to accept them at our discretion. You may modify an existing AAR by contacting us by phone at the number provided in the "CONTACTING NYLIAC" section of this Prospectus. We will suspend AAR automatically if the Variable Accumulation Value is less than $2,500 on a reallocation date. Once the Variable Accumulation Value equals or exceeds this amount, AAR will resume automatically as scheduled. There is no minimum amount that you must allocate among the Investment Divisions under this option. AAR may be cancelled if a premium allocation change or transfer is submitted on your behalf that is inconsistent with your current AAR arrangement. You may prevent this cancellation if a conforming AAR change is processed within one Business Day of the inconsistent premium allocation change or transfer.

You may cancel the AAR feature at any time by sending a written cancellation request in Good Order to the VPSC or by contacting us by phone or online as described in the "CONTACTING NYLIAC" section of this Prospectus. You may not elect the AAR feature if you have selected the traditional Dollar Cost Averaging option. However, you have the option of alternating between these two features.

***Dollar Cost Averaging Programs***

The main objective of dollar cost averaging is to achieve an average cost per Accumulation Unit that is lower than the average price per Accumulation Unit during volatile market conditions. Since you transfer the same dollar amount to an 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 per unit is low and fewer units if the value per unit is high. Dollar cost averaging does not assure a profit in rising markets 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 to make purchases during periods of varying price levels. We do not count transfers under dollar cost averaging as part of your 12 free transfers each Policy Year. There is no charge imposed for either of the Dollar Cost Averaging programs.

We have set forth below an example of how dollar cost averaging works. In the example, we have assumed that you want to transfer $100 from the NYLIM VP U.S. Government Money Market Investment Division to the NYLIM VP Dimensional U.S. Equity—Service Class Investment Division each month. Assuming the Accumulation Unit values below, you would purchase the following number of Accumulation Units:

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| | | | |
|:---|:---|:---|:---|
| **Month** | &nbsp;&nbsp; **Amount**<br> **Transferred**<br>| &nbsp;&nbsp; **Accumulation**<br> **Unit Value**<br>| &nbsp;&nbsp; **Accumulation Units**<br> **Purchased**<br>|
| 1 | $100 | $10.00 | 10.00 |
| 2 | $100 | $8.00 | 12.50 |
| 3 | $100 | $12.50 | 8.00 |
| 4 | $100 | $7.50 | 13.33 |
| Total | $400 | $38.00 | 43.83 |

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The average unit price is calculated as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| Total unit price | = | $38.00 | = | $9.50 |
| Number of months | = | 4 | = | $9.50 |

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The average unit cost is calculated as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| Total amount transferred | = | $400.00 | = | $9.13 |
| Total units purchased | = | 43.83 | = | $9.13 |

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In this example, with dollar cost averaging you would have paid an average of $9.13 per unit while the average price per unit during the purchase period was $9.50. Keep in mind that it is also possible for dollar cost averaging to result in a loss. For example, if Accumulation Unit Values had increased rapidly over the four-month period used in the example above, you would have achieved a lower average unit cost by making the entire purchase in the first month.

*Traditional Dollar Cost Averaging (not available with the investment preservation riders)*

This option, which is available at no additional cost, permits systematic investing to be made in equal installments over various market cycles to help reduce risk. You may specify, prior to the Annuity Commencement Date, a specific dollar amount to be transferred from any Investment Division to any combination of Investment Divisions and/or the Fixed Account. Please note that for Premium based Base Contract Charge policies, amounts cannot be transferred to the Fixed Account (if applicable) You will specify the Investment Divisions to transfer money from, the Investment Divisions and/or Fixed Account to transfer money to, the amounts to be transferred, the date on which transfers will be made, subject to our rules, and the frequency of the transfers (monthly, quarterly, semi-annually or annually). You may not use traditional dollar cost averaging to make transfers into or from an Asset Allocation Model. You may not make transfers from the Fixed Account, but you may make transfers into the Fixed Account. Each transfer from an Investment Division must be at least $100. You must have a minimum Accumulation Value of $2,500 to elect this option. Once all money has been allocated to the Investment Divisions of your choice or the balance in the Investment Division you are transferring from is less than $100, the Dollar Cost Averaging option will cease. A new request must be submitted to reactivate this feature. NYLIAC may reduce the minimum transfer amount and minimum Accumulation Value at its discretion.

NYLIAC will make all Dollar Cost Averaging transfers on the day of each calendar month that you specify or on the next Business Day (if the day you have specified is not a Business Day). You may specify any day of the month except the 29th, 30th, or 31st. In order to process transfers under the Dollar Cost Averaging Option, the VPSC must have received a completed Dollar Cost Averaging request form in Good Order at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus no later than five Business Days prior to the date transfers are to begin. You may also process a Dollar Cost Averaging transfer by any other method we make available. If your Dollar Cost Averaging request form for this option is received less than five Business Days prior to the date you request it to begin, the transfers will begin on the day of the month you specify in the month following the receipt of your request. All completed Dollar Cost Averaging request forms must be sent to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion.

You may cancel the Dollar Cost Averaging option at any time. To cancel the Dollar Cost Averaging option, you must send a written cancellation request in Good Order to the VPSC or contact us by phone at the number provided in the "CONTACTING NYLIAC" section of this Prospectus. NYLIAC may also cancel this option if the Accumulation Value is less than $2,000, or such lower amount as we may determine. You may not elect the Dollar Cost Averaging option if you have selected the Automatic Asset Rebalancing option. However, you have the option of alternating between these two features.

*The DCA Advantage Account*

This feature, which is available at no additional cost, permits you to set up automatic dollar cost averaging using the DCA Advantage Account when an initial premium payment or a subsequent premium payment is made. The DCA Advantage Account transfers amounts automatically to the Investment Divisions you choose in six monthly increments, as described below. We credit amounts in the DCA Advantage Account with interest. You can request the DCA Advantage Account in addition to traditional Dollar Cost Averaging, Automatic Asset Rebalancing or Interest Sweep. To set up a DCA Advantage Account you must send a completed DCA Advantage Account request form in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus.

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If you wish to allocate to the DCA Advantage Account, each premium payment you allocate to it must be at least $2,000. If your payment is less than the $2,000 minimum, it will not be allocated to the DCA Advantage Account. Instead, it will be automatically applied to the Investment Divisions that you have specified to receive transfers from the DCA Advantage Account. You must specify the Investment Divisions or available Asset Allocation Model into which transfers from the DCA Advantage Account are to be made. However, you may not select the DCA Advantage Account if its duration would extend beyond the Annuity Commencement Date. You may not make transfers from the DCA Advantage Account into the Fixed Account. We do not count transfers out of the DCA Advantage Account as part of your 12 free transfers each Policy Year. Dollar cost averaging will begin one month from the date NYLIAC receives the premium payment and transfers will be made on the same day (on the next Business Day if the day is not a Business Day) each subsequent month for the duration of the DCA Advantage Account. If a transfer is scheduled to occur on a day that does not exist in a month, it will be processed on the last day of that month or on the next Business Day if the last day of that month is not a Business Day. 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 Advantage Account. For example, the amount of the first monthly transfer out of the DCA Advantage Account will equal 1/6 of the value of the DCA Advantage Account on the date of the transfer. The amount of each of the five remaining transfers will equal 1/5, 1/4, 1/3, 1/2 and the remainder of the balance, respectively, of the value of the DCA Advantage Account on the date of each transfer.

You may not have more than one DCA Advantage Account open at the same time. Accordingly, any subsequent premium payment we receive for a DCA Advantage Account that is already open will be allocated to that same DCA Advantage Account and will earn the same interest rate. The entire value of the DCA Advantage Account will be completely transferred to the Investment Divisions or Asset Allocation Model within the duration specified. For example, if you allocate an initial premium payment to the DCA Advantage Account under which the 6-month term will end on December 31 and you make a subsequent premium payment to the 6-month DCA Advantage Account before December 31, we will allocate the subsequent premium payment to the same 6-month DCA Advantage Account already opened and transfer the entire value of the 6-month DCA Advantage Account to the Investment Divisions or Asset Allocation Model by December 31 even though a portion of the money was not in that DCA Advantage Account for the entire 6-month period. If an additional premium payment of $2,000 or more is allocated to the DCA Advantage Account after the duration has expired, the DCA Advantage Account will be re–activated and will earn the interest rate in effect on the Business Day the new premium payment is received at the VPSC.

You can make partial withdrawals and transfers (in addition to the automatic transfers described above) from the DCA Advantage Account. We will make partial withdrawals and transfers first from the DCA Advantage Account Accumulation Value attributed to the initial premium payment and then from the DCA Advantage Account Accumulation Value attributed to subsequent allocations in the order received.

**You cannot make transfers into the DCA Advantage Account from any Allocation Option.**

***Interest Sweep***

This optional benefit, which is available at no additional cost, allows the interest earned on monies allocated to the Fixed Account to be transferred from the Fixed Account to one or any combination of Investment Divisions or an available Asset Allocation Model. You must specify the Investment Divisions and/or Asset Allocation Model, the frequency of the transfers (monthly, quarterly, semi-annually, or annually), and the day of each calendar month to make the transfers (except the 29<sup>th</sup>, 30<sup>th</sup>, and 31<sup>st</sup> of a month). NYLIAC will make all Interest Sweep transfers on the day of each calendar month you have specified or on the next Business Day (if the day you have specified is not a Business Day). To request an Interest Sweep transfer, you must send an Interest Sweep request form in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. The VPSC must receive a completed Interest Sweep request form at least five Business Days prior to the date transfers are scheduled to begin. If the VPSC does not receive a completed Interest Sweep request form within the five Business Days prior to the date you request it to begin, the transfer will begin on the day of the month you specify in the month following the receipt of your request.

The Interest Sweep option may be utilized in addition to traditional Dollar Cost Averaging, Automatic Asset Rebalancing, or the DCA Advantage Account. With an Asset Allocation Model, the Interest Sweep option may be utilized with Automatic Asset Rebalancing and the DCA Advantage Account. If an Interest Sweep transfer is scheduled for the same day as a transfer related to the traditional Dollar Cost Averaging option, the Automatic Asset Rebalancing option or the DCA Advantage Account, we will process the Interest Sweep transfer first.

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You may cancel the Interest Sweep option at any time. To cancel the Interest Sweep Option, you must send a written cancellation request in Good Order to the VPSC or contact us by telephone as described in the "CONTACTING NYLIAC" section of this Prospectus. We may also cancel this option if the Fixed Account Accumulation Value is less than $2,000, or such a lower amount as we may determine.

To establish a new Interest Sweep transfer after the option has been cancelled, you must send an Interest Sweep request form in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. You may also process an Interest Sweep transfer by any other method we make available. The VPSC must receive an Interest Sweep request form in Good Order at least five Business Days prior to the date transfers are scheduled to begin. If the VPSC does not receive an Interest Sweep request form in Good Order at least five Business Days prior to the date you request it to begin, transfers will begin on the day of the month you specify in the month following the receipt of your request. Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion. The minimum Fixed Account Accumulation Value required to elect this option is $2,500, but this amount may be reduced at our discretion.

***Rate Sheet Prospectus Supplement for the IPR Riders***

We use a Rate Sheet Prospectus Supplement to describe (i) the current charges and IPR Guarantee Percentages applicable to new purchases; (ii) the current charges for resets of the IPR Riders; and (iii) the addition or removal of Holding Periods available with the IPR. Please see the Rate Sheet Prospectus Supplement for the current charges, IPR Guarantee Percentages and Holding Periods applicable to new purchases and for the current charges for resets of the IPR Riders. For all historical charges and IPR Guarantee Percentages applicable to prior purchases and IPR Resets, please see APPENDIX 4.

We may issue new Rate Sheet Prospectus Supplements in the future that will reflect (i) revised current charges and IPR Guarantee Percentages for new purchases; (ii) revised current charges for IPR Resets for IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0; and (iii) revised Holding Periods under the IPR available for new purchases. It is important that you know the current charge and current IPR Guarantee Percentages as of the date you apply for a policy. In the event we publish a new Rate Sheet Prospectus Supplement after the date your application is signed but before we issue your policy, we will apply the charge and IPR Guarantee Percentage in effect on the date of your signed application.

For IPR Resets, if we issue a new Rate Sheet Prospectus Supplement after the date you send in your written request to reset your IPR but before the Rider Reset Effective Date, we will apply the charge in effect on the Rider Reset Effective Date. Please be advised that the charges you pay for the IPR after you elect to reset may be different than the charges you paid prior to the Rider Reset Effective Date and could be more or less than the current charge reflected in the Rate Sheet Supplement at the time of your election to reset; provided, however, that such charges will never exceed the guaranteed maximum charge set forth in the "FEE TABLE". If you are not satisfied with the new charges you pay for the IPR after you elect to reset, you may cancel the reset at any time prior to or within thirty (30) days after the Rider Reset Effective Date with no penalty.

The charges and guaranteed amount percentages set forth in the Rate Sheet Prospectus Supplement may not be superseded or changed until a new Rate Sheet Prospectus Supplement is filed at least 10 Business Days prior to the effective date of the new Rate Sheet Prospectus Supplement. All Rate Sheet Prospectus Supplements are available on the EDGAR system at sec.gov (File Number 333-156018 and File Number 333-156019) and can also be obtained online at https://dfinview.com/NewYorkLife/TAHD/premierplus-ii or at no cost by calling our Variable Products Service Center at 1-800-598-2019.

**Charges And Deductions**

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***Transaction Expenses***

*Surrender Charges*

Since no deduction for a sales charge is made from each premium payment, we impose a surrender charge on certain partial withdrawals and surrenders of the policies. The surrender charge covers certain expenses relating to the sale of the policies, including commissions to registered representatives and other promotional expenses. We

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measure the surrender charge as a percentage of the amount withdrawn or surrendered. The surrender charge applies to certain amounts applied under certain Income Payment options.

If you surrender your policy, we deduct the surrender charge from the amount paid to you. If you make a partial withdrawal, you can direct NYLIAC to take surrender charges either from the remaining value of the Allocation Options from which the partial withdrawals are made, or from the amount paid to you. If you specify the Allocation Options from which to make the withdrawal, we will deduct the surrender charge pro-rata according to your instructions. If you do not specify the Allocation Options from which to make the withdrawal, we will deduct the surrender charge pro-rata from each Allocation Option. If the remaining value in an Allocation Option and/or the DCA Advantage Account, is less than the necessary surrender charge, we will not process the withdrawal. However, you can withdraw any investment gains under your policy without a surrender charge (see "CHARGES AND DEDUCTIONS—Transaction Expenses—Exceptions to Surrender Charges," below).

The guaranteed maximum surrender charge will be 8% of the amount withdrawn. The percentage of the surrender charge varies, depending upon the length of time a premium payment is in your policy before it is withdrawn. For purposes of calculating the applicable surrender charge, we deem premium payments to be withdrawn on a first–in, first–out basis. Unless required otherwise by state law, the surrender charge for amounts withdrawn or surrendered during the first Payment Year(s) following the premium payment to which such withdrawal or surrender is 8% of the amount withdrawn or surrendered. In most jurisdictions, this charge then declines by 1% per year for each additional Payment Year, until the eighth Payment Year, after which no charge is made, as shown in the following chart:

*Amount of Surrender Charge* 

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| | |
|:---|:---|
| **Payment Year** | **Surrender Charge** |
| 1 | 8% |
| 2 | 8% |
| 3 | 7% |
| 4 | 6% |
| 5 | 5% |
| 6 | 4% |
| 7 | 3% |
| 8 | 2% |
| 9+ | 0% |

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In no event will the aggregate surrender charge applied under the policy exceed nine percent (9.0%) of the total premium payments. For the surrender charge schedule applicable for policies issued in New York with an application signed on or after November 13, 2023, see APPENDIX 3 – State Variations.

*Exceptions to Surrender Charges*

We will not assess a surrender charge:

&nbsp;&nbsp;&nbsp;&nbsp;(a) on amounts you withdraw in any Policy Year that are less than or equal to the greatest of (i) 10% of the Accumulation Value as of the last Policy Anniversary (10% of the premium payment if the withdrawal is made in the first Policy Year) less any prior surrender charge free withdrawals during the Policy Year; (ii) 10% of the Accumulation Value at the time of withdrawal, less any prior surrender charge free withdrawals during the Policy Year; or (iii) the Accumulation Value less accumulated premium payments.

&nbsp;&nbsp;&nbsp;&nbsp;(b) if NYLIAC cancels the policy;

&nbsp;&nbsp;&nbsp;&nbsp;(c) if you exercise your right to cancel your policy during the Free Look period;

&nbsp;&nbsp;&nbsp;&nbsp;(d) when we pay proceeds upon the death of the policyowner;

&nbsp;&nbsp;&nbsp;&nbsp;(e) when you select an Income Payment option involving life income in any Policy Year after the first Policy Anniversary;

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

&nbsp;&nbsp;&nbsp;&nbsp;(f) when a required minimum distribution calculated based on the value of this policy is made under a Qualified Policy or an Inherited Non-Qualified policy (the amount of a required minimum distribution will, however, be included when calculating the amount in item (a), above);

&nbsp;&nbsp;&nbsp;&nbsp;(g) on withdrawals you make under the Living Needs Benefit/Unemployment Rider;

&nbsp;&nbsp;&nbsp;&nbsp;(h) on monthly or quarterly periodic partial withdrawals made pursuant to Section 72(t)(2)(A)(iv) of the Code;

&nbsp;&nbsp;&nbsp;&nbsp;(i) when the aggregate surrender charges under a policy exceed 9.0% of the total premium payments; and

&nbsp;&nbsp;&nbsp;&nbsp;(j) on amounts applied to Future Income Purchases, if applicable.

*Transfer Fees*

Currently, we do not charge for transfers under the policy. However, we reserve the right to charge up to $30 for each transfer after the first 12 in a given Policy Year, subject to any applicable state insurance law requirements. The charge is to compensate us for the expense of processing the transfer. The transfer charge, if applicable, will be assessed at the time that the transfer is processed and will be deducted from your Accumulation Value and taken pro rata from each Allocation Option. Each time you request a transfer, we will assess the transfer charge, if applicable. Separate requests submitted on the same day will each be treated as separate transfers. Transfers made under traditional Dollar Cost Averaging, Interest Sweep, the DCA Advantage Account, and Automatic Asset Rebalancing do not count toward this transfer limit.

*Payments Returned for Insufficient Funds*

If your premium payment is returned for insufficient funds, we reserve the right to reverse your allocation(s) and charge you a $20 fee for each returned payment. The charge is to compensate us for the expense of processing the returned payment. This charge, if applicable, will be assessed at the time the payment is reversed and will be deducted from your Accumulation Value and taken pro rata from each Allocation Option. In addition, the Portfolio may also redeem shares to cover any losses it incurs as result of a returned payment. If a payment is returned for insufficient funds for two consecutive periods, the privileges to pay by check or electronically will be suspended until the VPSC receives a written request to reinstate it in Good Order at one of the addresses noted in the "CONTACTING NYLIAC" section of the Prospectus, and we agree.

*Rider Risk Charge Adjustment for IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 (Cancellation Charge)*

If you cancel the IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 after thirty (30) days, we will deduct a one–time Rider Risk Charge Adjustment from your Accumulation Value. This charge is to compensate NYLIAC for the costs and risks we assume in providing the benefit. The cancellation will be effective on the date that the VPSC (at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus) receives your cancellation request. (See "FEE TABLE.") In most jurisdictions, we will deduct the Rider Risk Charge Adjustment from an Investment Division or the DCA Advantage Account in proportion to its percentage of the Accumulation Value on that day. We will not deduct this charge if you surrender your policy, however, surrender charges may apply. Certain jurisdictions do not permit us to assess the Rider Risk Charge Adjustment. For more information about the jurisdiction where your policy was issued see APPENDIX 2–State Variations or contact your registered representative.

The maximum Rider Risk Charge Adjustment is 2.00% of the amount that is guaranteed, except in the case of the 20-year rider Holding Period, which has a 1.00% maximum. We are currently charging the maximum amount. We may set a lower charge at our sole discretion. You should check with your registered representative to determine the percentage we are currently charging before you decide to cancel.

If you reset the amount that is guaranteed, a new Rider Risk Charge Adjustment may apply. This charge may be more or less than the charge currently in effect on your policy but will never exceed the stated maximum. Upon an IPR Reset, any new percentage will be effective on the Rider Reset Effective Date.

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***Annual Policy Expenses***

*Base Contract Charges (M&E Charge)*

Prior to the Annuity Commencement Date, we deduct a charge from the assets of the Separate Account to compensate us for certain mortality and expense risks and administrative costs (M&E Charge) we assume under the policies and for providing policy administration services. You may choose to have the M&E Charge assessed based on either the Accumulation Value of the policy or the Adjusted Premium Payments.

We reduce the M&E Charge at the end of the Surrender Charge Period that applies to the initial premium payment.

***M&E Charges for Policies Applied For On or After May 1, 2016*** 

For policies applied for on and after May 1, 2016 whose M&E Charges are based on your policy's Accumulation Value, we assess the following M&E Charges daily:

&nbsp;&nbsp;&nbsp;&nbsp;● During the Surrender Charge Period for the initial premium, the M&E Charge is 1.50% (annualized) of the daily average Variable Accumulation Value.

&nbsp;&nbsp;&nbsp;&nbsp;● After the end of the Surrender Charge Period for the initial premium, the M&E Charge is 1.30% (annualized) of the daily average Variable Accumulation Value.

For policies applied for on and after May 1, 2016 whose M&E Charges are based on the amount of your Adjusted Premium Payments, we assess the following M&E Charges, which are deducted from the Investment Divisions through a reduction in Accumulation Units each policy quarter (excluding premiums allocated to the Fixed Account that are not transferred to the Investment Divisions):

&nbsp;&nbsp;&nbsp;&nbsp;● During the Surrender Charge Period for the initial premium, the M&E Charge is 1.60% (annualized) of the Adjusted Premium Payments.

&nbsp;&nbsp;&nbsp;&nbsp;● After the end of the Surrender Charge Period for the initial premium, the M&E Charge is 1.40% (annualized) of the Adjusted Premium Payments.

***M&E Charges for Policies Applied For Before May 1, 2016*** 

For policies applied for before May 1, 2016 whose M&E Charges are based on your policy's Accumulation Value, we assess the following M&E Charges daily:

&nbsp;&nbsp;&nbsp;&nbsp;● During the Surrender Charge Period for the initial premium, the M&E Charge is 1.60% (annualized) of the daily average Variable Accumulation Value.

&nbsp;&nbsp;&nbsp;&nbsp;● After the end of the Surrender Charge Period for the initial premium, the M&E Charge is 1.40% (annualized) of the daily average Variable Accumulation Value.

For policies applied for before May 1, 2016 whose M&E Charges are based on the amount of your Adjusted Premium Payments, we assess the following M&E Charges, which are deducted from the Investment Divisions through a reduction in Accumulation Units each policy quarter (excluding premiums allocated to the Fixed Account that are not transferred to the Investment Divisions):

&nbsp;&nbsp;&nbsp;&nbsp;● During the Surrender Charge Period for the initial premium, the M&E Charge is 1.70% (annualized) of the Adjusted Premium Payments.

&nbsp;&nbsp;&nbsp;&nbsp;● After the end of the Surrender Charge Period for the initial premium, the M&E Charge is 1.50% (annualized) of the Adjusted Premium Payments.

For Accumulation Value based M&E Charge policies, the M&E Charge may vary based on the Accumulation Value of the policy when the M&E Charge is deducted. For Premium-based M&E Charge policies, the M&E Charge is assessed based on the Adjusted Premium Payments and will not vary with fluctuations in the policy's Accumulation Value. We guarantee that this charge will not increase. If the charge is insufficient to cover actual costs and assumed risks, the loss will fall on NYLIAC. We expect to profit from this charge. We may use these proceeds for any corporate

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purpose, including expenses relating to the sale of the policies, to the extent that surrender charges do not adequately cover sales expenses.

The amount of Premium-based M&E Charges deducted from your Accumulation Value will be unaffected by fluctuations in market performance. In a rising market, the Premium-based M&E Charge structure will benefit the policyowner because the Premium based M&E Charge, when measured as a percentage of separate account assets, will be reduced. In a flat or declining market, the Premium based M&E Charge structure will result in an increase in the charge when measured against separate account assets. The amount of Accumulation Value based M&E Charges assessed to your policy will be affected by fluctuations in market performance. However, the Accumulation Value based M&E Charge structure may be more advantageous in a flat or declining market.

The mortality risk assumed is the risk that Annuitants as a group will live for a longer time than our actuarial tables predict. As a result, we would be paying more Income Payments than we planned. We also assume a risk that the mortality assumptions reflected in our guaranteed annuity payment tables, shown in each policy, will differ from actual mortality experience. Lastly, we assume a mortality risk that, at the time of death, the guaranteed minimum death benefit will exceed the policy's Accumulation Value. The expense risk assumed is the risk that the cost of issuing and administering the policies will exceed the amount we charge for these services. We expect to make a profit from this charge, which we may use for any purpose, including expenses associated with the Premium Credit.

*Administrative Expense – Policy Service Charge*

We deduct an annual policy service charge of $30 each Policy Year on the Policy Anniversary and upon surrender of the policy. However, we will waive the annual policy service charge if your policy has $100,000 or more of Accumulation Value on a given Policy Anniversary. In addition, if you have purchased an IPR 4.0 and your cumulative first year premium(s) are greater than or equal to $25,000, we will waive your annual policy service charges for the entirety of the policy.

We deduct the annual policy service charge from each Allocation Option and the DCA Advantage Account, if applicable, in proportion to its percentage of the Accumulation Value in each option on the Policy Anniversary or date of surrender. This charge is designed to cover the costs for providing services under the policy such as collecting, processing, and confirming premium payments and establishing and maintaining the available methods of payment.

***Optional Benefit Expenses***

*Charge for the Investment Preservation Rider, Investment Preservation Rider 2.0, Investment Preservation Rider 3.0, Investment Preservation Rider 4.0 and Investment Preservation Rider 5.0*

The IPR, IPR 2.0, IPR 3.0 and IPR 4.0 were, and the IPR 5.0 is, available only at the time of application in jurisdictions where approved. If you purchased the IPR, IPR 2.0, IPR 3.0 or IPR 4.0 or purchase the IPR 5.0, we deduct a charge each policy quarter that the rider is in effect based on the amount that is guaranteed. The charge varies depending on the Holding Period selected. This charge is to compensate NYLIAC for the risk of the underlying guarantee provided by the rider. We deduct this charge beginning with the first policy quarter after the Rider Effective Date. (See "FEE TABLE.") See also Appendix 4 for charges applicable to previously elected IPRs, and the Rate Sheet Prospectus Supplement for current charges.) Usually, we deduct the charge from each Allocation Option in proportion to its percentage of the Accumulation Value on the first Business Day of the applicable policy quarter.

The guaranteed maximum annual charge for IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0 ranges from 1.50% to 2.00% of the amount that is guaranteed, depending on the Holding Period you choose. We may set a lower charge at our sole discretion.

For IPR 5.0, the current charge is subject to change and will depend on when you purchase your policy. See the Rate Sheet Prospectus Supplement for the current charge applicable to new purchases.

For IPR, IPR 2.0, IPR 3.0 and IPR 4.0 Riders, the current charges range from 0.30% to 0.95% (See "FEE TABLE" for more information.)

If you elect to reset the amount that is guaranteed under your rider, a new charge for the IPR, IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0 may apply. This charge may be more or less than the charge currently in effect on your policy but will never exceed the stated guaranteed maximum. The charge in effect on the Rider Effective Date or on the Rider Reset

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Effective Date of any reset will not change after the date the rider (or any reset) becomes effective, unless you elect a subsequent rider reset. After a reset, we will continue to deduct the current charge until the first policy quarter following the Rider Reset Effective Date. See the Rate Sheet Prospectus Supplement for current charges applicable to IPR Resets.

*Annual Death Benefit Reset (ADBR) Rider Charge*

If you purchase the ADBR Rider, we will deduct a charge each policy quarter that the rider is in effect based on the amount that is guaranteed as of the last Reset Anniversary, less any Reset Value Proportional Reductions. This charge is to compensate NYLIAC for the risk of the underlying guarantee provided by the rider. In most jurisdictions, this charge will be deducted from each Investment Division, the DCA Advantage Account and the Fixed Account, in proportion to its percentage of the Accumulation Value of the applicable quarter and will not reduce your Adjusted Premium Payments. However, for policies issued in New York, this charge will be deducted only from the Variable Accumulation Value. This charge will continue to be deducted while the policy remains in–force.

If you applied for your policy before May 1, 2016, the charge for the ADBR Rider is based upon your age when the policy is issued, which will not change. The maximum annual charge is 1.00% of the most recent reset amount, or the initial premium payment in the first Policy Year. You should check with your registered representative to determine the percentage we are currently charging. For policies applied for before May 1, 2016, the ADBR Rider charge is as follows:

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| | | |
|:---|:---|:---|
| **Age of Oldest Owner at Issue** | **Annual Charge** | **Annual Charge** |
| 65 or younger | 0.30% | (.0750% per quarter) |
| 66 to 75 inclusive | 0.35% | (.0875% per quarter) |

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If you applied for your policy on and after May 1, 2016, the current charge for the ADBR Rider, for policyowners of all ages, is 0.25% per year (0.0625% per quarter).

*Investment Preservation Rider/Annual Death Benefit Reset Rider Package Charge (available only with policies applied for before May 1, 2016)*

For policies applied for before May 1, 2016, there was a discount if you purchased the Investment Preservation Rider/Annual Death Benefit Reset Rider combination package ("IPR + ADBR Package"), and we will deduct a reduced IPR + ADBR rider charge each policy quarter that the IPR + ADBR Package is in effect. See APPENDIX 4 for historical charges applicable to previously issued IPR + ADBR Packages (including historical IPR Resets). If you have an IPR + ADBR Package and elect an IPR Reset on or after May 1, 2019, the charges applicable to your reset will be displayed on the current Rate Sheet Prospectus Supplement. Please note that if IPR is canceled, the charge for the ADBR rider will revert to the charge that is assessed for that rider, if purchased separately.

***Annual Portfolio Expenses***

Portfolio fees and expenses are deducted from and paid out of the assets of the Portfolios. The value of the assets of the Separate Account will indirectly reflect the Portfolios' total fees and expenses. The Portfolios' total fees and expenses are not part of the policy. They may vary in amount from year to year. These fees and expenses are described in detail in the relevant Portfolio's prospectus and/or SAI. A complete list of Portfolios available under the policy, including their annual expenses, may be found in **APPENDIX 1A**.

Certain 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 Investment Company Act of 1940. In such cases, we would administer the Portfolio fees and deduct them from your Accumulation Value or transaction proceeds.

***Group and Sponsored Arrangements***

For certain group or sponsored arrangements, we may reduce the surrender charge and the policy service charge or change the minimum initial and additional premium payment requirements. Group arrangements include those in which a trustee or an employer, for example, purchases policies covering a group of individuals on a group basis. Sponsored arrangements include those in which an employer allows us to sell policies to its employees or retirees on an individual basis.

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Our costs for sales, administration, and mortality generally vary with the size and stability of the group among other factors. We take all these factors into account when reducing charges. To qualify for reduced charges, a group or sponsored arrangement must meet certain requirements, including our requirements for size and number of years in existence. Group or sponsored arrangements that have been set up solely to buy policies or that have been in existence less than six months will not qualify for reduced charges.

We will make any reductions according to our rules in effect when an application or enrollment form for a policy is approved. We may change these rules from time to time. Any variation in the surrender charge or policy service charge will reflect differences in costs or services and will not be unfairly discriminatory.

***Taxes***

NYLIAC may, where premium taxes are imposed by state law, deduct such taxes from your policy either: (i) when a surrender, Future Income Purchase or cancellation occurs, or (ii) at the Annuity Commencement Date or the Future Income Start Date. Applicable premium tax rates depend upon such factors as your current state of residency, and the insurance laws and NYLIAC's status in states where premium taxes are incurred. Current premium tax rates range from 0% to 3.5%. Applicable premium tax rates are subject to change by legislation, administrative interpretations or judicial acts.

We may in the future seek to amend the policies to deduct premium taxes when a premium payment is received.

Under present laws, NYLIAC will also incur state and local taxes (in addition to the premium taxes described above) in several states. NYLIAC may assess charges for such taxes.

NYLIAC does not expect to incur any federal income tax liability attributable to investment income or capital gains retained as part of the Separate Account reserves under the policies. (See "FEDERAL TAX MATTERS.") Based upon these expectations, no charge is being made currently for corporate federal income taxes which may be attributable to the Separate Account. Such a charge may be made in future years for any federal income taxes NYLIAC incurs.

**Distributions Under The Policy**

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***Surrenders and Withdrawals***

You can make partial withdrawals, periodic partial withdrawals, hardship withdrawals, or surrender the policy to receive part or all of the Accumulation Value at any time before the Annuity Commencement Date and while the Annuitant is living. To request a surrender or withdrawal, you can send a written request in Good Order to the VPSC at one of the addresses listed on the "CONTACTING NYLIAC" section of this Prospectus or utilize any other method we make available. Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion. If the request is in Good Order, the amount available for withdrawal is the Accumulation Value at the end of the Business Day that the VPSC receives the written request, less any surrender charges, taxes that we may deduct, and the annual policy service charge, if applicable. If you have not provided us with a written election not to withhold federal income taxes at the time you make a withdrawal or surrender request, NYLIAC must by law withhold such taxes from the taxable portion of any surrender or withdrawal. We will remit that amount to the federal government. In addition, some states have enacted legislation requiring withholding. You can also request a partial withdrawal online at www.newyorklife.com or the mobile application. NYLIAC will pay all surrenders or withdrawals within seven days of receipt of all required information in Good Order (including documents necessary to comply with federal and state tax law), subject to postponement in certain circumstances. (See "THE POLICIES—Delay of Payments").

Since you assume the investment risk with respect to amounts allocated to the Separate Account and because certain surrenders or withdrawals are subject to a surrender charge and premium tax deduction, the total amount paid upon surrender of the policy (taking into account any prior withdrawals) may be more or less than the total premium payments made.

Surrenders and withdrawals may be taxable transactions, and the Code provides that a 10% penalty tax may be imposed on certain early surrenders or withdrawals made before the Owner attains age 59½ (the penalty tax is increased to 25% in the case of a distribution from a SIMPLE IRA within the first two years of your participation in the SIMPLE IRA Plan.) (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.") In addition, taxable

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surrenders and withdrawals may be subject to an additional 3.8 percent tax on net investment income. (See "FEDERAL TAX MATTERS—3.8 Percent Tax on Certain Investment Income.")

*Surrenders*

We may deduct a surrender charge and any state premium tax, if applicable, any outstanding loan balance, and the annual policy service charge, if applicable, from the amount paid. For surrender requests over $50,000, we may require additional verification of your identity before the request can be deemed in Good Order. For surrender requests of any size, if your address or bank account information has been on file with us for less than thirty (30) days, we may require additional verification of your identity before we will process a request to send surrender proceeds electronically to that bank account or through the mail to that address. (See "ANNUITY PAYMENTS (THE INCOME PHASE)—Income Payments.") Surrenders may be taxable transactions and a 10% penalty tax may be applicable if the surrender is made before the Owner attains age 59½. (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.")

*Partial Withdrawals*

The minimum amount that can be withdrawn is $500 unless we agree otherwise. We will withdraw the amount from the Allocation Options in accordance with your request. However, if you do not specify how to allocate a partial withdrawal among the Allocation Options or if the IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0 is in effect, we will deduct the partial withdrawal on a pro-rata basis. Your requested partial withdrawal will be effective on the date we receive your request in Good Order at the VPSC or online at www.newyorklife.com or the mobile application. However, if that day is not a Business Day or if your request is received after the close of the NYSE, then the requested partial withdrawal will be effective on the next Business Day. Generally, we will pay the partial withdrawal within seven days of that date. Partial withdrawals may be taxable transactions and the 10% penalty tax provisions may be applicable. (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.")

If a surrender charge applies to your partial withdrawal, surrender charges will be deducted from the amount paid to you unless you instruct us otherwise. You may, however, request to have the surrender charges taken from the remaining value of the Allocation Options from which partial withdrawals are made. If you specify the Allocation Options from which to make the withdrawal, we will deduct the surrender charge pro-rata according to your instructions. If you do not specify the Allocation Options from which to make the withdrawal, we will deduct the surrender charge pro-rata from each Allocation Option.

If the requested partial withdrawal is equal to the value in any of the Allocation Options from which the partial withdrawal is being made, we will pay the entire value of that Allocation Option and/or the DCA Advantage Account, less any surrender charge that may apply to you. If honoring a partial withdrawal request would result in an Accumulation Value that would provide Income Payments of less than $20 per month on the Annuity Commencement Date, we reserve the right to terminate your policy and pay you the Accumulation Value in a single sum, subject to any applicable state insurance law or regulation. We will notify you of our intention to exercise this right and give you 90 days to make a premium payment. If we terminate your policy, we will pay you the Accumulation Value of your policy in one lump sum.

Currently, online withdrawals cannot exceed $250,000 and telephone partial withdrawals cannot exceed $100,000. We may require additional verification of your identity for written or telephone partial withdrawal requests for amounts greater than $50,000 before the request can be deemed in Good Order. For withdrawal requests of any size, if your address or bank account information has been on file with us for less than 30 days, we may require the request in writing or require additional verification of your identity, in a means acceptable to us, before we will process a request to send partial withdrawal proceeds electronically to that bank account or through the mail to that address. In addition, partial withdrawal requests made from policies that are less than 90 days old or that had an ownership change within 30 days of such partial withdrawal request must be made in writing and sent to the VPSC at one of the addresses noted in the "CONTACTING NYLIAC" section of this Prospectus. Faxed and e-mailed requests are not currently accepted; however, we reserve the right to accept them at our discretion.

**It is important to note that any withdrawal may reduce the Guaranteed Amount under the Investment Preservation Riders and death benefit proportionally.** 

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*Periodic Partial Withdrawals*

You may elect to receive regularly scheduled partial withdrawals from the policy. These periodic partial withdrawals may 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 29<sup>th</sup>, 30<sup>th</sup>, or 31<sup>st</sup> of a month). 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). To process Periodic Partial Withdrawals, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus, or utilize any other method we make available. NYLIAC must receive a request no later than five Business Days prior to the date the withdrawals are to begin. If we receive your request less than five Business Days prior to the date you request withdrawals to begin, the withdrawals will begin on the day of the month you specify in the month following the receipt of your request. Faxed and e-mailed requests are not currently accepted; however, we reserve the right to accept them at our discretion. You may specify the Allocation Options from which the periodic partial withdrawals will be made. The minimum amount is $100, or such lower amount as we may permit. Periodic partial withdrawals may be taxable transactions and the 10% penalty tax provisions may be applicable. (See "FEDERAL TAX MATTERS—Taxation of Annuities in General.") If you do not specify otherwise, we will withdraw money on a pro-rata basis from each Investment Division and/or the Fixed Account. You may not make periodic partial withdrawals from the DCA Advantage Account. You can elect to receive "Interest Only" periodic partial withdrawals for the interest earned on monies allocated to the Fixed Account. If this option is chosen, the $100 minimum for periodic partial withdrawals will be waived. However, you must have at least $5,000 in the Fixed Account at the time of each periodic partial withdrawal, unless we agree otherwise.

**It is important to note that any withdrawal may reduce the Guaranteed Amount under the Investment Preservation Riders and death benefit proportionally.**

*Hardship Withdrawals*

Under certain Qualified Policies, the Plan Administrator (as defined in Code Section 414(g)) may allow, in its sole discretion, certain withdrawals it determines to be "Hardship Withdrawals." The surrender charge and 10% penalty tax, if applicable, and provisions applicable to partial withdrawals apply to Hardship Withdrawals.

***Required Minimum Distributions***

The age when required minimum distributions must begin for IRAs, SIMPLE IRAs, SEP IRAs, and TSAs is now based on your "applicable age" as defined in the Code.

If you were born prior to July 1, 1949, your applicable age was 70½. If you were born on or after July 1, 1949, and before January 1, 1951, your applicable age was 72. If you were born on or after January 1, 1951 and before January 1, 1960, your applicable age is 73. If you were born on or after January 1, 1960, your applicable age is 75.

For IRAs, SIMPLE IRAs and SEP IRAs, the policyowner is generally not required to start taking required minimum distributions until April 1st of the year following the calendar year he or she attains their applicable age. For TSAs, the policyowner is generally not required to start taking required minimum distributions until April 1st of the year following the later of the calendar year he or she attains their applicable age or the calendar year he or she retires. For Inherited IRAs and Inherited Roth IRAs, a policyowner is generally required to take the first required minimum distribution on or before December 31 of the calendar year following the year of the original owner's death. For Inherited Non-Qualified policies, the policyowner is generally required to take the first required minimum distribution prior to the first anniversary of the original owner's death.

***Our Right to Cancel***

In most jurisdictions, if we do not receive any premium payments for a period of two years, and the Accumulation Value of your policy would provide Income Payments of less than $20 per month on the Annuity Commencement Date, we reserve the right to terminate your policy subject to any applicable state insurance law or regulation. We will notify you of our intention to exercise this right and, provided that you are not older than the maximum age for making a premium payment as stated on the Policy Data Page, give you 90 days to make a premium payment. If we terminate your policy, we will pay you the Accumulation Value of your policy in one lump sum. For more information about our right to cancel policies issued in New York, see APPENDIX 3 – State Variations.

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***Restrictions Under Code Section 403(b)(11)***

With respect to 403(b) TSAs, distributions attributable to salary reduction contributions made in years beginning after December 31, 1988 (including the earnings on these contributions), as well as to earnings in such years on salary reduction accumulations held as of the end of the last year beginning before January 1, 1989, may not begin before the employee attains age 59½, has a severance from employment, dies or becomes disabled. The Code section 403(b) plan may also provide for distribution in the case of hardship. However, hardship distributions are limited to amounts contributed by salary reduction. The earnings on such amounts may not be withdrawn. However, for plan years beginning after December 31, 2023, all amounts are available for a hardship distribution. Even though a distribution may be permitted under these rules (e.g., for hardship or due to a severance from employment), it may still be subject to a 10% additional income tax as a premature distribution.

Under the final Code section 403(b) regulations, which the Department of Treasury published on July 26, 2007, employer contributions made to Code section 403(b) TSA contracts will be subject to new withdrawal restrictions. Under the new rules, amounts attributable to employer contributions to a Code section 403(b) TSA contract that is issued after December 31, 2008 may not be distributed earlier than the earliest of severance from employment or upon the occurrence of a certain event, such as after a fixed number of years, the attainment of a stated age, or disability. These new withdrawal restrictions do not apply to Code section 403(b) TSA contracts issued before January 1, 2009.

Under the terms of your Code section 403(b) plan, you may have the option to invest in other funding vehicles, including Code section 403(b)(7) custodial accounts. You should consult your plan document to make this determination.

***Loans***

***Availability of Loans and Limitations****.* Loans are available only if you have purchased an Accumulation Value–based M&E Charge policy in connection with a 403(b) Tax–Sheltered Annuity ("TSA") plan. Loans are not available for policies with IPR, IPR 2.0, IPR 3.0, IPR 4.0 or IPR 5.0. Under your 403(b) policy, you may borrow against your policy's Accumulation Value prior to the Annuity Commencement Date. Unless we agree otherwise, only one loan may be outstanding at a time. There must be a minimum Accumulation Value of $5,000 in the policy at the time of the loan. The minimum loan amount is $500, unless you are using the loan to purchase a primary residence, as described below. The maximum loan that you may take is the lesser of: (a) 50% of the policy's Accumulation Value on the date of the loan or (b) $50,000 minus your highest outstanding principal balance in the previous 12 months from your policy and any qualified employer plan (as defined under Sections 72(p)(4) and 72(p)(2)(D) of the Code). Please note that adverse tax consequences could result from your failure to comply with this limitation. NYLIAC, and its affiliates and agents do not provide legal or tax advice nor assume responsibility or liability for any legal or tax consequences of any TSA loan taken under a 403(b) policy or the compliance of such loan with the Code limitations set forth in this paragraph or for determining whether any plan or loan is subject to and/or complies with ERISA.

*Your Policy as Collateral for a Loan.* Your policy will be used as collateral to secure this loan. Any amount that secures a loan remains part of your policy's Accumulation Value, but it is transferred to the Fixed Account. We credit any amount that secures a loan (the loaned amount) with an interest rate that we expect to be different than the interest rate we credit any unloaned amount in the Fixed Account.

When you request a loan, a transfer of funds will be made from the Separate Account (and/or DCA Advantage Accounts, if so requested) to the Fixed Account so that the Accumulation Value in the Fixed Account is at least 125% of the requested loan amount. We will transfer these funds from the Investment Divisions of the Separate Account (and/or DCA Advantage Accounts, if so requested) in accordance with your instructions or, if you have not provided us with any instructions, in proportion to the amounts you have in each Investment Division (and/or DCA Advantage Accounts, if so requested). While any policy loan is outstanding, you may not make any partial withdrawals or transfers which would reduce the Fixed Account Accumulation Value to an amount that is less than 125% of the outstanding loan balance, or which will reduce your Accumulation Value net of the outstanding loan to less than $5,000.

*Interest Charged for a Loan.* For policies not governed by ERISA, we charge an effective annual loan interest rate of 5%. For policies governed by ERISA, the interest rate we charge will be based on the Prime Rate, as reported in the Wall Street Journal on the first Business Day of a calendar year or the Moody's Corporate Bond Yield Average as of two months before the date the rate is determined. The rate is determined on the first Business Day of the

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calendar year. Once set, the interest rate will be fixed for the life of the loan. Interest accrues daily and is charged quarterly as part of your periodic loan repayments.

*Interest Credited on the Fixed Account Accumulation Value Held as Collateral for a Policy Loan.* When you take a loan against your policy, the loaned amount that we hold in the Fixed Account as collateral for your policy loan may earn interest at a different rate from the rate that we charge you for loan interest. The rate we credit on the loaned amount in the Fixed Account may also be different from the rate we credit on other amounts in the Fixed Account. For the amount held in the Fixed Account that is used to secure 100% of the outstanding loan value, we will credit interest at a rate that is 2% less than the interest rate charged on the loan. The additional 25% being held in the Fixed Account to secure the loan will be credited with the current declared interest rate for the Fixed Account. The credited interest rate will always be at least equal to the minimum guaranteed interest rate stated on the Policy Data Page. Interest is credited on a daily basis.

*Requesting a Loan.* We reserve the right to withdraw a loan processing fee of $25 from the Accumulation Value on a pro rata basis, unless prohibited by applicable state law or regulation. To request a loan, you must send a written request in Good Order to the VPSC. 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 a form acceptable to us, before we will process a request to send loan proceeds electronically to that bank account or through the mail to that address.

*When Loan Payments are Due.* Once you take a loan, your scheduled loan repayments (which include accrued loan interest), are due quarterly and over a period no greater than five years from the date it is taken (except with respect to loans taken to purchase a principal residence as explained below). If you do not make a loan payment when it is due, we will withdraw the amount in default from your Fixed Accumulation Value to the extent permitted by federal income tax rules. We will take such a repayment on a first–in, first–out (FIFO) basis from amounts allocated to the Fixed Account.

Loan payments must be sent to the VPSC at the address as shown in the "CONTACTING NYLIAC" section of this prospectus (or any other address we indicate to you in writing). Loan repayments are applied in accordance with your existing premium allocation instructions unless you provide alternate instructions in writing.

The entire amount of your outstanding loan may be treated as a taxable distribution.

*Loans used to Acquire a Principal Residence.* We permit loans to acquire a principal residence under the same terms described above, except that:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the minimum loan amount is $5,000; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) repayment of the loan amount may be extended to a maximum of twenty–five years.

*The Effects of a Policy Loan on Accumulation Value, Income Payments and the Standard Death Benefit.* A loan, repaid or not, has a permanent effect on your Accumulation Value. This effect occurs because amounts borrowed are removed from your Investment Divisions (which receive investment performance) and placed into the Fixed 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 Accumulation Value. The effect could be favorable or unfavorable. If the Investment Divisions earn more than the annual interest rate credited to loaned amounts held in the Fixed Account, your Accumulation 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 loaned amounts held in the Fixed Account, then your Accumulation 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 proceeds that might otherwise be payable as Income Payments or under your Policy's Standard Death Benefit.

We deduct any outstanding loan balance including any accrued interest from the Fixed Accumulation Value prior to payment of a surrender or the commencement of the annuity benefits. On death of the policyowner or Annuitant, we deduct any outstanding loan balance plus accrued loan interest from the Fixed Accumulation Value as a partial withdrawal as of the date we receive the notice of death.

Loans are subject to the terms of the policy, your 403(b) plan and the Code, which may impose restrictions upon them. We reserve the right to suspend, modify, or terminate the availability of loans under this policy at any time. However, any action taken by us will not affect already outstanding loans. **Also note that for Premium–Based M&E** 

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**Charge policies purchased in connection with TSA plans, you may not borrow any portion of your Accumulation Value.**

**Annuity Payments (The Income Phase)**

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***Annuity Commencement Date***

The income phase of your policy occurs when you begin receiving regular payments from us (Income Payments). The Annuity Commencement Date is the day those Income Payments begin (sometimes referred to as annuitization of the policy) unless the policy has been surrendered or an amount has been paid as proceeds to the designated Beneficiary prior to that date. The Annuity Commencement Date is the date specified on the Policy Data Page, but is usually the date you attain age 95. The earliest possible Annuity Commencement Date is the first Policy Anniversary. If we agree, you may change the Annuity Commencement Date to an earlier date. If we agree, you may also defer the Annuity Commencement Date to a later date, which could be as late as the date you attain age 115, provided that we receive notice of the request in Good Order at least one month before the last selected Annuity Commencement Date, and that applicable state law permits a deferral to such date. To request to change or defer the Annuity Commencement Date to a later date, subject to the constraints noted above, you must provide notice in a form acceptable to us (or as required under state law) in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. You may not withdraw any Accumulation Value from your policy after the Annuity Commencement Date. Any request for a partial withdrawal must be received at least 30 days prior to the Annuity Commencement Date.

The Annuity Commencement Date and Income Payment method for Qualified Policies and Inherited Non-Qualified policies may also be controlled by endorsements, the plan, or applicable law.

***Income Payments***

*Election of Income Payment Options*

On the Annuity Commencement Date, the Accumulation Value will be applied to provide a monthly Income Payment. For most policies, Income Payments will not be less than those that we would provide to the same class of Annuitants if the Accumulation Value, less any applicable Surrender Charges, was used to purchase any single premium immediate annuity offered by NYLIAC on the Annuity Commencement Date. For more information about policies issued in New York, California, Delaware, Florida, North Dakota, South Dakota, and Washington DC, see APPENDIX 3, State Variations.

Unless you instruct us otherwise, we will make Income Payments under the Life Income – Guaranteed Period Payment Option, under which we will make equal Income Payments for your lifetime or for ten (10) years, if you die before receiving ten (10) years of Income Payments. (See "ANNUITY PAYMENTS" in the Statement of Additional Information.) However, on or before the Annuity Commencement Date, you can elect to receive Income Payments under such other option we may offer at that time where permitted by state laws. We will require that a lump sum payment be made if the Accumulation Value is an amount that would provide Income Payments of less than $20 a month on the Annuity Commencement Date. If the Life Income – Guaranteed Period Payment Option is not chosen, you may change the Income Payment option or request any other method of payment we agree to at any time before the Annuity Commencement Date. To change the Income Payment option or to request another method of payment prior to the Annuity Commencement Date, you must send a written request in Good Order to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus. However, once payments begin, you may not change the option. If a life Income Payment option is chosen, we may require proof of birth date before Income Payments begin. For Income Payment options involving life income, the actual age of the Annuitant(s) will affect the amount of each payment. Since payments based on older Annuitants are expected to be fewer in number, the amount of each annuity payment should be greater. We will make payments under the Life Income Guaranteed Period Payment Option in the same specified amount and over the life of the Annuitant(s) with a guarantee of ten (10) years of payments, even if an Annuitant dies sooner. NYLIAC does not currently offer variable Income Payment options.

A policyowner may elect to apply a portion of the Accumulation Value toward one of the Income Payment options we may offer, while the remainder of the policy continues to accumulate income on a tax–deferred basis. This is called a partial annuitization. A partial annuitization will reduce the benefits provided under the policy. The

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Accumulation Value will be reduced by the amount placed under one of the Income Payment options we may offer. Under a partial annuitization, the policy's Accumulation Value, any riders under the policy and any charges assessed will be treated the same as they would under any other withdrawal from the policy's Accumulation Value, except that surrender charges will not be assessed. (See "FEDERAL TAX MATTERS.") Partial annuitization is not available for Inherited Non-Qualified or Inherited Roth IRA policies.

**It is important to note that partial annuitizations will reduce the Standard Death Benefit and any optional benefit proportionally.** 

Under Income Payment options involving life income, the Payee may not receive Income Payments equal to the total premium payments made under the policy if the Annuitant dies before the actuarially predicted date of death. We base Income Payment options involving life income on annuity tables that vary on the basis of gender, unless the policy was issued under an employer sponsored plan or in a state which requires unisex rates.

Taxable Income Payments may be subject to an additional 3.8 percent tax on net investment income. (See "FEDERAL TAX MATTERS—3.8 Percent Tax on Certain Investment Income.")

*Proof of Survivorship*

We may require satisfactory proof of survival from time to time, before we pay any Income Payments or other benefits. We will request the proof at least 30 days prior to the next scheduled Payment Date.

**The Fixed Account**

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The Fixed Account is backed by assets in NYLIAC's general account, which includes all of NYLIAC's assets except those assets specifically allocated to NYLIAC's separate accounts. NYLIAC has sole discretion to invest the assets of the Fixed Account subject to applicable law. The Fixed Account is not registered under the federal securities laws and is generally not subject to their provisions. Therefore, generally you do not have the benefits and protections of these statutes for amounts allocated to the Fixed Account. These disclosures regarding the Fixed Account may be subject to certain applicable provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses. If the five–year Constant Maturity Treasury Rate, less 125 basis points, is below 3%, we may refuse the allocation of all or a portion of your Premium Payment to the Fixed Account.

*Interest Crediting*

NYLIAC guarantees that it will credit interest at an annual effective rate of at least the minimum guaranteed interest rate stated on the Policy Data Page of your policy, to amounts allocated or transferred to the Fixed Account under the policies. The guaranteed minimum interest rate will never be lower than 0.05% and as of the date of this Prospectus, the guaranteed minimum interest rate is 0.05%. Please contact your registered representative for the current guaranteed minimum interest rate. We credit interest on a daily basis. NYLIAC may, at its sole discretion, credit a higher rate or rates of interest to amounts allocated or transferred to the Fixed Account.

Interest rates will be set on the anniversary of each premium payment or transfer. All premium payments, any Premium Credit, and additional amounts (including transfers from other Investment Divisions) allocated to the Fixed Account, plus prior interest earned on such amounts, will receive their applicable interest rate for one–year periods from the anniversary on which the allocation or transfer was made. The Fixed Account Accumulation Value will never be less than the Fixed Account portion of the Nonforfeiture Value.

Information regarding the features of the Fixed Account, including (i) its name and (ii) its guaranteed minimum interest rate, is available in an appendix to the prospectus. See Appendix 1A - Investment Options Available Under the Policy.

*Transfers Between the Fixed Account and Investment Divisions or an Asset Allocation Model*

Generally, you may transfer amounts from the Fixed Account (if applicable) to the Investment Divisions or an available Asset Allocation Model up to 30 days prior to the Annuity Commencement Date, subject to the following conditions.

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&nbsp;&nbsp;&nbsp;&nbsp;1. The maximum amount you are allowed to transfer from the Fixed Account to the Investment Divisions or an available Asset Allocation Model, including Interest Sweep transfers, during any Policy Year while the Surrender Charge Period for the initial premium payment is in effect is 25% of the highest attained Fixed Account Accumulation Value as of the beginning of each Policy Year. When the Surrender Charge Period for the initial premium payment is no longer in effect, the maximum amount that you are allowed to transfer from the Fixed Account to the Investment Divisions or an Asset Allocation Model may not exceed 50% of the highest attained Fixed Account Accumulation Value as of the beginning of each Policy Year, regardless of any new Surrender Charge Periods applicable to additional premium payments. The highest attained Fixed Account Accumulation Value will decrease by the amount of any withdrawals made from the Fixed Account and increase by the amount of any additional premium payments made to the Fixed Account. When the Fixed Account Accumulation Value is zero, all previous Fixed Account Accumulation values are disregarded, and the next Premium Payment to the Fixed Account will then be considered the highest attained Fixed Account Accumulation Value until a subsequent anniversary results in a higher balance.

&nbsp;&nbsp;&nbsp;&nbsp;2. The remaining value in the Fixed Account after a transfer from the Fixed Account to the Investment Divisions or an available Asset Allocation Model must be at least $25. If, after a contemplated transfer, the remaining values in the Fixed Account would be less than $25, that amount must be included in the transfer, unless NYLIAC in its discretion permits otherwise. We determine amounts transferred from the Fixed Account on a first–in, first–out (FIFO) basis, for purposes of determining the rate at which we credit interest on amounts remaining in the Fixed Account.

&nbsp;&nbsp;&nbsp;&nbsp;3. For Premium Based M&E Charge policies, transfers are not allowed into the Fixed Account.

&nbsp;&nbsp;&nbsp;&nbsp;4. For Account Value based M&E Charge policies, transfers from the Investment Divisions to the Fixed Account must be at least $500.

For Premium based M&E Charge policies, premium payments transferred from the Fixed Account to the Investment Divisions or an Asset Allocation Model are subject to a Mortality and Expense Risk and Administrative Costs Charge.

Except as part of an existing request relating to the traditional Dollar Cost Averaging or the Interest Sweep option, you may not transfer money into the Fixed Account if you made a transfer out of the Fixed Account during the previous six–month period.

You must make transfer requests in writing in Good Order and send them to the VPSC at one of the addresses listed in the "CONTACTING NYLIAC" section of this Prospectus, by telephone in accordance with established procedures, or through our online service at www.newyorklife.com or the mobile application. Faxed and e-mailed requests are not currently accepted, however, we reserve the right to accept them at our discretion.

We will deduct partial withdrawals and apply any surrender charges to the Fixed Account on a FIFO basis (i.e., from any value in the Fixed Account attributable to premium payments or transfers from Investment Divisions or an Asset Allocation Model in the same order in which you allocated such payments or transfers to the Fixed Account during the life of the policy).

**The DCA Advantage Account**

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Like the Fixed Account, the DCA Advantage Account is also held in NYLIAC's general account. The DCA Advantage Account is not registered under the federal securities laws. The information contained in the first paragraph under "THE FIXED ACCOUNT" applies equally to the DCA Advantage Account.

Information regarding the features of the DCA Advantage Account, including (i) its name, (ii) its term, and (iii) its guaranteed minimum interest rate, is available in an appendix to the prospectus. See Appendix 1A: Investment Options Available Under the Policy.

NYLIAC will set interest rates in advance for each date on which we may receive a premium payment to the DCA Advantage Account. We will never declare less than the minimum guaranteed interest rate stated on the Policy Data Page of your policy. The guaranteed minimum interest rate will never be lower than 0.05% and as of the date of this Prospectus, the guaranteed minimum interest rate is 0.05%. If you choose to allocate your initial premium payment to the DCA Advantage Account, the initial premium, and any subsequent premium payments we receive for an initial DCA Advantage Account that is already open, will earn interest at the rate in effect on the date you signed your

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application. If an additional premium payment is allocated to the DCA Account after the duration of the initial account has expired, the DCA Advantage Account will be re-activated and will earn interest at the rate in effect on the Business Day we receive the premium payment.

Any Premium Credit will receive the applicable interest rate in effect on the Business Day we receive the premium payment. Interest rates for subsequent premium payments made into the DCA Advantage Account may be different from the rate applied to prior premium payments made into the DCA Advantage Account. The DCA Advantage Account Accumulation Value will never be less than the DCA Advantage Account portion of the Nonforfeiture Value.

The annual effective rate that we declare is credited only to amounts remaining in the DCA Advantage Account. We credit the interest on a daily basis. Because money is periodically transferred out of the DCA Advantage Account, amounts in the DCA Advantage Account will not achieve the declared annual effective rate. Please note that interest credited under the DCA Advantage Account will exceed the actual investment earnings of NYLIAC less appropriate risk and expense adjustments. **Excess interest amounts credited to the DCA Advantage Account will be recovered by fees and charges associated with the Investment Divisions in later Policy Years. The interest credited in later Policy Years may be less than that for the first Policy Year.**

**Federal Tax Matters**

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***Introduction***

**The following discussion is general and is not intended as tax advice.** We issue both Qualified and Non-Qualified Policies. Both types of policies offer tax-deferred accumulation. A Non-Qualified Policy can provide for retirement income other than through a tax-qualified plan. Qualified Policies are designed for use by individuals in retirement plans which are intended to qualify as plans qualified for special income tax treatment under Sections 219, 403(b), 408, or 408A of the Code. The ultimate effect of federal income taxes on the Accumulation Value, on Income Payments, and on the economic benefit to you, the Annuitant or the Beneficiary depends on the type of retirement plan for which the Qualified Policy is purchased, on the tax and employment status of the individual concerned and on NYLIAC's tax status. The following discussion assumes that Qualified Policies are used in retirement plans that qualify for the special federal income tax treatment described above. This discussion is not intended to address the tax consequences resulting from all of the situations in which a person may be entitled to or may receive a distribution under a policy. Any person concerned about these tax implications should consult a tax adviser before making a premium payment. This discussion is based upon NYLIAC's understanding of the present federal income tax laws as they are currently interpreted by the Internal Revenue Service. We cannot predict the likelihood of continuation of the present federal income tax laws or of the current interpretations by the Internal Revenue Service, which may change from time to time without notice. Any such change could have retroactive effects regardless of the date of enactment. Moreover, this discussion does not take into consideration any applicable state or other tax laws except with respect to the imposition of any state premium taxes. We suggest you consult with your tax adviser.

***Taxation of Annuities in General***

The following discussion assumes that the policies will qualify as annuity contracts for federal income tax purposes. The Statement of Additional Information discusses such qualifications.

Section 72 of the Code governs taxation of annuities in general. NYLIAC believes that an annuity policyowner generally is not taxed on increases in the value of a policy until distribution occurs either in the form of a lump sum received by withdrawing all or part of the Accumulation Value (i.e., surrenders or partial withdrawals) or as Income Payments under the Income Payment option elected. The exception to this rule is that generally, a policyowner of any deferred annuity policy who is not a natural person must include in income any increase in the excess of the policyowner's Accumulation Value over the policyowner's investment in the contract during the taxable year. However, there are some exceptions to this exception. You may wish to discuss these with your tax advisor. The taxable portion of a distribution (in the form of an annuity or lump sum payment) is generally taxed as ordinary income. For this purpose, the assignment, pledge, or agreement to assign or pledge any portion of the Accumulation Value generally will be treated as a distribution.

In the case of a withdrawal or surrender distributed to a participant or Beneficiary under a Qualified Policy, a ratable portion of the amount received is taxable, generally based on the ratio of the investment in the contract to the total policy value. The "investment in the contract" generally equals the portion, if any, of any premium payments paid by or

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on behalf of an individual under a policy which is not excluded from the individual's gross income. For policies issued in connection with qualified plans, the "investment in the contract" can be zero. The law requires the use of special simplified methods to determine the taxable amount of payments that are based in whole or in part on the Annuitant's life and that are paid from TSAs.

Generally, in the case of a withdrawal under a Non-Qualified Policy before the Annuity Commencement Date, amounts received are first treated as taxable income to the extent that the Accumulation Value immediately before the withdrawal exceeds the "investment in the contract" at that time. Any additional amount withdrawn is not taxable. On the other hand, upon a full surrender of a Non-Qualified Policy, if the "investment in the contract" exceeds the Accumulation Value (less any surrender charges), the loss is treated as an ordinary loss for federal income tax purposes. However, limitations may apply to the amount of the loss that may be deductible.

Although the tax consequences may vary depending on the Income Payment option elected under the policy, in general, only the portion of the Income Payment that represents the amount by which the Accumulation Value exceeds the "investment in the contract" will be taxed. After the investment in the Policy is recovered, the full amount of any additional Income Payments is taxable. For fixed Income Payments, in general, there is no tax on the portion of each payment which represents the same ratio that the "investment in the contract" bears to the total expected value of the Income Payments for the term of the payments. However, the remainder of each Income Payment is taxable until the recovery of the investment in the contract, and thereafter the full amount of each annuity payment is taxable. If death occurs before full recovery of the investment in the contract, the unrecovered amount may be deducted on the Annuitant's final tax return.

A policyowner may elect to apply a portion of the Accumulation Value towards one of the Income Payment options we may offer, while the remainder of the policy continues to accumulate income on a tax-deferred basis. This is called a partial annuitization. If a policyowner chooses to partially annuitize a policy, the resulting payments will be taxed as fixed Income Payments described above, only if such payments are received for one of the following periods: (1) the Annuitant's life (or the lives of the joint Annuitants, if applicable), or (2) a period of 10 years or more. Provided such requirements are met, the "investment in the contract" will be allocated pro rata between each portion of the policy from which amounts are received as an annuity and the portion of the policy from which amounts are not received as an annuity. It is our understanding that the commencement of Future Income Payments before the Annuity Commencement Date will be treated as a partial annuitization of the policy. As such, the investment in the contract will be allocated pro rata between the Future Income Payments and the Accumulation Value. Although there is some uncertainty regarding when the investment in the contract should be allocated, we believe that allocation at commencement of Future Income Payments is consistent with Code Section 72(a)(2), which provides for partial annuitization treatment if any amount is "received" as an annuity (and other applicable requirements are met). In light of this uncertainty, however, you should consult a tax adviser before making a Future Income Purchase.

In the case of a distribution, a penalty tax equal to 10% of the amount treated as taxable income may be imposed. The penalty tax is not imposed in certain circumstances, including, generally, distributions: (1) made on or after the date on which the policyowner attains age 59½, (2) made as a result of the policyowner's (or, where the policyowner is not an individual, the Annuitant's) death, (3) made as a result of the policyowner's disability, (4) which are part of a series of substantially equal periodic payments (at least annually) made for the life (or life expectancy) of the policyowner or the joint lives (or joint life expectancies) of the policyowner and his or her designated beneficiary, or (5) received from an Inherited IRA. Other tax penalties may apply to certain distributions pursuant to a Qualified Policy. For more details regarding this penalty tax and other exemptions that may be applicable, please consult a tax adviser.

All non-qualified, deferred annuity contracts issued by NYLIAC (or its affiliates) to the same policyowner during any calendar year are to be treated as one annuity contract for purposes of determining the extent to which an amount not received as an annuity is includible in an individual's gross income. In addition, there may be other situations in which the Treasury Department may conclude (under its authority to issue regulations) that it would be appropriate to aggregate two or more annuity contracts purchased by the same policyowner. Accordingly, a policyowner should consult a tax adviser before purchasing more than one policy or other annuity contract.

A transfer of ownership of a policy, or designation of an Annuitant or other Beneficiary who is not also the policyowner, may result in certain income or gift tax consequences to the policyowner. A policyowner contemplating any transfer or assignment of a policy should consult a tax adviser with respect to the potential tax effects of such a transaction.

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***3.8 Percent 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., an 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 the policy, distributions or withdrawals from the policy, or the exercise of other rights and features under this annuity contract.

***Partial Section 1035 Exchanges***

Section 1035 of the Code provides that an annuity contract may be exchanged in a tax-free transaction for another annuity contract or a long-term care insurance policy. The IRS has issued guidance which provides that the direct transfer of a portion of an annuity contract into another annuity contract can qualify as a tax-free exchange, provided that no amounts (other than annuity payments made for life or for a term of at least 10 years) are distributed from either contract involved in the exchange for 180 days following the date of the transfer. If a taxpayer takes a distribution during this 180-day waiting period, the IRS guidance provides that the IRS will apply general tax principles to determine the tax treatment of the transfer and/or the distribution (e.g., in appropriate circumstances, as taxable "boot" or as a taxable distribution, effectively negating the tax-free exchange).

This IRS guidance, however, does not address the tax treatment of a partial exchange of an annuity contract for a long-term care insurance policy. Although we believe that taking a distribution or withdrawal from the Contract described in this Prospectus within 180 days of a partial exchange of such Contract for a long-term care insurance policy should not cause such prior partial exchange to be treated as taxable, there can be no assurance that the IRS will not expand the 180-day rule described above to partial exchanges of an annuity contract for a long-term care insurance policy, or that the IRS will not provide other guidance with respect to such partial exchanges. **If you contemplate such an exchange, you should consult a tax advisor to discuss the potential tax effects of such a transaction.**

***Inherited Non–Qualified Policies***

An Inherited Non–Qualified Annuity is an annuity contract that is held for the benefit of the beneficiary of a deceased annuity contract owner in order to distribute death proceeds of a non-qualified annuity to the beneficiary over that beneficiary's life expectancy in accordance with the required distribution rules of IRC Section 72(s).

The source of the funds used to purchase an Inherited Non–Qualified Annuity must be a 1035 exchange of (i) death benefit proceeds payable to the beneficiary under a non-qualified annuity contract, or (ii) an Inherited Non-Qualified Annuity contract under which the beneficiary is currently taking required distributions based upon his or her life expectancy in accordance with IRC Section 72(s)(2).

In order to exchange the original contract, the original owner of the contract must have died before the Annuity Commencement Date. The death benefit proceeds of the original contract must be transferred directly to NYLIAC. Payments under this Policy will be calculated using the required minimum distribution method described in IRS Revenue Ruling 2002–62, as updated by IRS Notice 2022-6. The Annuitant must irrevocably elect and commence payments of his or her required distributions under the Policy no later than one year after the death of the owner of the original contract and the Annuitant must receive the entire required distribution by December 31st of the year in which payments under the Policy commence. If more than one year has elapsed since the original owner's death, you are eligible for a NYLIAC Inherited Non-Qualified Annuity only if you started to receive required distributions under IRC Section 72(s) from the original contract or from another Inherited Non-Qualified Annuity within one year of the original owner's death and you have taken the required distribution for the current and, if applicable, all prior years.

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The Policy will be titled in the beneficiary's name as beneficiary of the deceased owner and cannot be transferred. The beneficiary must be the Annuitant, and the Annuitant cannot be changed. Additional Purchase Payments cannot be applied to the Policy. Additional special rules apply to an Inherited Non-Qualified Annuity.

***Qualified Policies***

Qualified Policies are designed for use with retirement plans that qualify for special federal income tax treatment under Sections 219, 403(b), 408, and 408A of the Code. The tax rules applicable to participants and beneficiaries in these plans vary according to the type of plan and the terms and conditions of the plan itself. Special favorable tax treatment may be available for certain types of contributions and distributions (including special rules for certain lump sum distributions to individuals who attained the age of 50 by January 1, 1986). Adverse tax consequences may result from contributions in excess of specified limits, distributions prior to age 59½ (subject to certain exceptions), distributions that do not conform to specified minimum distribution rules and in certain other circumstances. Therefore, this discussion only provides general information about the use of Qualified Policies with the plans described below. Policyowners and participants under these plans, as well as Annuitants and Beneficiaries are cautioned that the rights of any person to any benefits under the plans may be subject to the terms and conditions of the plans themselves, regardless of the terms and conditions of the policy issued in connection with the plan. Purchasers of Qualified Policies should seek legal and tax advice regarding the suitability of the policy.

*(a) 403(b) Plans.*

Under Section 403(b) of the Code, payments made by public school systems and certain tax exempt organizations to purchase annuity policies for their employees are excludible from the gross income of the employee, subject to certain limitations. However, such payments may be subject to FICA (Social Security) taxes.

*Important Information Regarding Final Code Section 403(b) Regulations* 

On July 26, 2007, the Department of the Treasury published final Code section 403(b) regulations that were largely effective on January 1, 2009. These comprehensive regulations include several new rules and requirements, such as a requirement that employers maintain their Code section 403(b) plans pursuant to a written plan. The final regulations, subsequent IRS guidance, and the terms of the written plan and/or the written information sharing agreement between the employer and NYLIAC may impose new restrictions on both new and existing Code section 403(b) TSA contracts, including restrictions on the availability of loans, distributions, transfers and exchanges, regardless of when a contract was purchased.

Prior to the effective date of the final regulations, IRS guidance applicable to tax-free transfers and exchanges of Code section 403(b) TSA contracts or custodial accounts became effective September 25, 2007, replacing existing rules under IRS Revenue Ruling 90-24 previously applicable to such transfers and exchanges (a "90-24 transfer"). Under this guidance, transfers and exchanges (both referred to below as "transfers") are available only to the extent permitted under the employer's written Code section 403(b) plan.

Transfers occurring after September 24, 2007 that do not comply with this guidance can result in the applicable contract becoming taxable on January 1, 2009, or the date of the transfer, whichever is later. If you make a transfer to a contract or custodial account that is not part of the employer's Code section 403(b) plan (other than a transfer to a different plan), and the contract provider and employer fail to enter into an information sharing agreement by January 1, 2009, the transfer would be considered a "failed" transfer, resulting in the applicable contract becoming subject to tax.

In general, certain contracts originally established by a 90-24 transfer prior to September 25, 2007, are exempt (or grandfathered) from some of the requirements of the final regulations; provided that no salary reduction or other contributions have ever been made to such contracts, and that no additional transfers are made to such contracts on or after September 25, 2007. Further, contracts that are not grandfathered are generally required to be part of, and subject to the requirements of, an employer's written Code section 403(b) plan no later than by January 1, 2009.

The new rules in the final regulations generally do not affect a participant's ability to transfer some or all of a Code section 403(b) TSA contract to a state-defined benefit plan to purchase service credits, where such a transfer is otherwise consistent with applicable rules and requirements and with the terms of the employer's plan.

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You should discuss with your tax advisor the final Code section 403(b) regulations and other applicable IRS guidance in order to determine the impact they may have on any existing Code section 403(b) TSA contracts that you may own and/or on any Code section 403(b) TSA contract that you may consider purchasing.

*(b) Individual Retirement Annuities.*

Sections 219 and 408 of the Code permit individuals or their employers to contribute to an individual retirement program known as an "Individual Retirement Annuity" or "IRA," including an employer-sponsored Simplified Employee Pension or "SEP." Individual Retirement Annuities are subject to limitations on the amount which may be contributed and deducted and the time when distributions may commence. In addition, distributions from certain other types of qualified plans may be placed into IRAs on a tax-deferred basis.

*(c) Roth Individual Retirement Annuities.*

Section 408A of the Code permits individuals with incomes below a certain level to contribute to an individual retirement program known as a "Roth Individual Retirement Annuity" or "Roth IRA." Roth IRAs are subject to limitations on the amount that may be contributed. Contributions to Roth IRAs are not deductible, but distributions from Roth IRAs that meet certain requirements are not included in gross income. Individuals generally may convert their existing non-Roth IRAs into Roth IRAs. A direct rollover may also be made from an eligible retirement plan other than a non-Roth IRA (such as a qualified retirement plan, section 403(b) tax sheltered annuity, or eligible governmental section 457 plan) to a Roth IRA provided applicable requirements are met. Such conversions and rollovers will be subject to income tax at the time of conversion or rollover.

*(d) Inherited Roth IRAs.*

This policy may also be issued as an Inherited Roth IRA if, after the death of the owner of a Roth IRA who has satisfied his or her 5–year Holding Period requirement, the named Beneficiary (other than the Roth IRA owner's spouse) directs that the Roth IRA death proceeds be transferred to a new policy issued as an Inherited Roth IRA.

*(e) Inherited IRAs.*

This policy may also be issued as an inherited IRA if, after the death of the owner of an IRA, the named Beneficiary directs that the IRA death proceeds be transferred to a new policy issued as an Inherited IRA. Beginning in 2007, a non-spouse beneficiary of an eligible retirement plan (such as a qualified retirement plan, section 403(b) tax sheltered annuity, or eligible governmental section 457 plan) may, if all applicable requirements are met, directly rollover a distribution from such plan into an Inherited IRA. The named Beneficiary of the original IRA policy or eligible retirement plan (as the case may be) will become the Annuitant under the Inherited IRA and may generally exercise all rights under the Inherited IRA policy, including the right to name his or her own Beneficiary in the event of death.

Special tax rules apply to Inherited IRAs and Inherited Roth IRAs. The tax law does not permit additional premiums to be contributed to Inherited IRA and Inherited Roth IRA policies. Also, in order to avoid certain income tax penalties, a Required Minimum Distribution ("RMD") generally must be withdrawn each year from inherited IRA and Inherited Roth IRA policies. The first RMD generally must be taken on or before December 31 of the calendar year following the year of the original IRA or Roth IRA owner's or eligible retirement plan participants' death. As of January 1, 2023, the penalty tax equals 25% of the excess of the RMD amount over the amounts, if any, actually withdrawn from the Inherited IRA or Inherited Roth IRA during the calendar year. If a failure to take an RMD is corrected in a timely manner, as prescribed under the Code, the excise tax is reduced to 10%.

With respect to IRA and Roth IRA owners and defined contribution plan participants who die on or after January 1, 2020, any individual policyowner who is not an "Eligible Designated Beneficiary" must withdraw the entire account value by the end of the tenth year following the year of death (if the original IRA owner or plan participant died before required minimum distributions were required to begin, an individual policyowner who is not an Eligible Designated Beneficiary is not required to withdraw any amount until the end of the tenth year following the year of death, at which time the entire account value must be withdrawn). Eligible Designated Beneficiaries may withdraw the account value over their lives or a period not exceeding their life expectancies. Eligible Designated Beneficiaries include spouses, minor children (until they reach age 21), someone who is disabled or chronically ill (including certain trusts for the disabled or chronically ill), or an individual not more than 10 years younger than the original IRA owner or plan participant.

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*(f) SIMPLE IRAs.*

SIMPLE IRAs permit certain small employers to establish SIMPLE IRA plans as provided by Section 408(p) of the Code, under which employees may elect to defer to a Simple IRA a percentage of compensation up to a certain amount (which is adjusted each year for cost-of-living increases in accordance with the Code). Employees who attain age 50 or over by the end of the relevant calendar year may also elect to make an additional catch-up contribution up to a certain amount (which is adjusted each year for cost-of-living increases in accordance with the Code). The sponsoring employer is generally required to make matching or non-elective contributions on behalf of employees. Distributions from SIMPLE IRAs are subject to the same restrictions that apply to IRA distributions and are taxed as ordinary income. Subject to certain exceptions, distributions prior to age 59½ are subject to a 10% penalty tax, which is increased to 25% if the distribution occurs within the first two years after the commencement of the employee's participation in the SIMPLE IRA plan. All references in this Prospectus to the 10% penalty tax should be read to include this limited 25% penalty tax if your Qualified Policy is used as a SIMPLE IRA.

The Qualified Policies (other than Roth IRAs during the owner's life) are subject to the RMD rules under Code section 401(a)(9) and the regulations issued thereunder. Under these rules, generally, distributions under your Qualified Policy must begin no later than the beginning date required by the Internal Revenue Service ("IRS"). The beginning date is determined by the type of Qualified Policy that you own. As of January 1, 2023, for each calendar year that an RMD is not timely made, a 25% excise tax is imposed on the amount that should have been distributed but was not. If a failure to take an RMD is corrected in a timely manner, as prescribed under the Code, the excise tax is reduced to 10%.

Unless the distributions are made in the form of an annuity that complies with Code section 401(a)(9) and the regulations issued thereunder, the minimum amount required to be distributed for each calendar year is generally determined by dividing the value of the Qualified Policy as of the end of the prior calendar year by the applicable distribution period (determined under IRS tables). Once Future Income Payments begin, we believe you will be treated as having two separate policies for purposes of satisfying these RMD rules. The Future Income Payments should automatically satisfy the RMD requirements with respect to the cumulative Future Income Purchases. A separate RMD will have to be calculated and withdrawn each year with respect to the Accumulation Value. The Future Income Payments generally cannot be applied towards satisfying the RMD requirements with respect to the Accumulation Value.

Beginning in 2006, regulations under Code section 401(a)(9) provide a new method for calculating the amount of RMDs from Qualified Policies. Under these regulations, during the accumulation phase of the Qualified Policy, the actuarial present value of certain additional benefits provided under the policy (such as guaranteed death benefits) must be taken into account in calculating the value of the Qualified Policy for purposes of determining the annual RMD for the Qualified Policy. As a result, under these regulations, it is possible that, after taking account of the value of such benefits, there may not be sufficient Accumulation Value to satisfy the applicable RMD requirement. This generally will depend on the investment performance of your policy. You may need to satisfy such RMD from other tax–qualified plans that you own. You should consult with your tax advisor regarding these requirements and the implications of purchasing any riders or other benefits in connection with your Qualified Policy.

Effective as of December 29, 2022, if distributions from your IRA are made in the form of an annuity, and the annuity payments in a year exceed the amount that would be required to be distributed for the year under the rules for non-annuitized accounts (determined by treating the IRA's account balance as including the value of the annuity), the excess can be counted towards satisfying the required minimum distribution with respect to any non-annuitized account balance in your IRA(s). You should consult your tax advisor if you want to use this special rule.

***Taxation of Death Benefits***

The tax treatment of amounts distributed from your contract upon the death of the policyowner or Annuitant depends on whether the policyowner or Annuitant dies before or after the Annuity Commencement Date. If death occurs prior to the Annuity Commencement Date, and the Beneficiary receives payments under an annuity payout option, the benefits are generally taxed in the manner described above for annuity payouts. If the benefits are received in a lump sum, they are taxed to the extent they exceed the remaining investment in the contract. If death occurs after the Annuity Commencement Date, amounts received by the Beneficiary are not taxed until they exceed the remaining investment in the contract.

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**Distribution and Compensation Arrangements**

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NYLIFE Distributors LLC ("NYLIFE Distributors"), the underwriter and distributor of the policies, is registered with the SEC and the Financial Industry Regulatory Authority, Inc. (FINRA) as a broker-dealer. The firm is an indirect wholly-owned subsidiary of New York Life, 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, LLC ("NYLIFE Securities"), a broker-dealer that is an affiliate of NYLIFE Distributors. Your registered representative is also a licensed insurance agent with NYLIAC. 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 New York Life or its affiliates and products provided by other companies.

NYLIFE Securities and in turn your registered representative, 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 will vary depending on the policy, the age of the Owner and whether the source of funds is from an internal exchange. Differing compensation arrangements have the potential to influence the recommendation made by your registered representative or broker-dealer.

The maximum commission and expense allowance paid to NYLIFE Securities registered representatives is typically 5% of all premiums received.

The total commissions paid for New York Life Premier Plus Variable Annuity II policies during the fiscal years ended December 31, 2025, 2024, and 2023 were $32,917,053, $29,188,019 and $23,913,629, respectively.

NYLIFE Distributors did not retain any of these commissions. The policies are sold and premium payments are accepted on a continuous basis.

New York Life also has other compensation programs where managers and employees involved in the sales process receive additional compensation related to the sale of products manufactured and issued by New York Life or its affiliates.

NYLIFE Securities registered representatives can qualify to attend New York Life-sponsored educational, training, and development conferences based on the sales they make of life insurance, annuities, and investment products during a particular twelve-month period. In addition, qualification for recognition programs sponsored by New York Life depends on the sale of products manufactured and issued by New York Life or its affiliates.

**Additional Information about Risks**

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***Information System Failures and Cybersecurity Risks***

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 online service at www.newyorklife.com or 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/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 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. Despite these controls and plans, systems failures and cyber-attacks/ransomware affecting New York Life and any of its 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 Accumulation Value. For instance, system failures and cyber-attacks/ransomware may (i) interfere with our processing of policy transactions (including surrenders, withdrawals, loans, and transfers) and the processing of orders from www.newyorklife.com or the mobile application, or with the underlying funds or cause other operations issues; (ii) impact our ability to calculate

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Accumulation Unit Values and your policy's Accumulation Values; (iii) cause the release, loss, and/or possible destruction of confidential customer and/or business information; (iv) subject us and/or our service providers, business partners, and intermediaries to regulatory fines, litigation, and financial losses, and/or cause us reputational damage. System 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/ransomware.

***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 Accumulation 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 surrenders, withdrawals, loans, and transfers) and the processing of orders from online service requests at www.newyorklife.com or 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's Accumulation 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 services 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.

**Legal Proceedings**

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NYLIAC is a defendant in lawsuits arising from its agency sales force, insurance (including variable contracts registered under the federal securities laws) and/or other operations. Some of these actions seek substantial or unspecified compensatory and punitive damages. NYLIAC is 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 the Separate Accounts, the ability of NYLIFE Distributors to perform its contract with the Separate Accounts, NYLIAC's financial position, or the ability of NYLIAC to meet its obligations under the Contracts; however, it is possible that settlements or adverse determinations

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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.

**Voting Rights**

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The Portfolios are not required to and typically do not hold routine annual stockholder meetings. Special stockholder meetings will be called when necessary. Based on our current interpretation of applicable law, NYLIAC will vote the Portfolio shares held in the Investment Divisions at special shareholder meetings of the Portfolios in accordance with instructions we receive from persons having voting interests in the corresponding Investment Division. If, however, the federal securities laws are amended, or if NYLIAC's present interpretation should change, and as a result, NYLIAC determines that it is allowed to vote the Portfolio shares in its own right, we may elect 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 Portfolio. In addition, we may disregard voting instructions that would require changes in the investment policy or investment adviser of one or more of the Portfolios 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.

Prior to the Annuity Commencement Date, you hold a voting interest in each Investment Division to which you have money allocated. We will determine the number of votes which are available to you by dividing the Accumulation Value attributable to an Investment Division by the net asset value per share of the applicable Portfolios. We will calculate the number of votes which are available to you separately for each Investment Division. We will determine that number by applying your percentage interest, if any, in a particular Investment Division to the total number of votes attributable to the Investment Division.

We will determine the number of votes of the Portfolio which are available as of the date established by the Portfolio of the relevant Fund. Voting instructions will be solicited by written or electronic communication prior to such meeting in accordance with procedures established by the relevant Fund.

If we do not receive timely instructions, we will vote those shares in proportion to the voting instructions which are received with respect to all policies participating in that Investment Division. Any shares owned by NYLIAC and its affiliates will also be voted proportionately in accordance with those instructions. As a result, a small number of policyowners may control the outcome of the vote. Each person having a voting interest in an Investment Division will receive proxy material, reports and other materials relating to the appropriate Portfolio.

**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 each of the Investment Divisions of each Separate Account's statement 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.

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**Appendix 1A**

***Investment Options Available Under the Policy***

The following is a list of Portfolios available under the policy, which is subject to change, as discussed in the prospectus. Depending on the optional benefits you choose, you may not be able to invest in certain Portfolios. You can find the prospectuses and other information about the Portfolios online at https://dfinview.com/NewYorkLife/TAHD/premierplus-ii. You can also request this information at no cost by calling the VPSC at 1-800-598-2019 or by sending an email request with your name and mailing address to PremierPlusIIProspectus@newyorklife.com.

The current expenses and performance information below reflects fees and expenses of the Portfolios but does not reflect the other fees and expenses that your policy may charge. Expenses would be higher and performance would be lower if these charges were included. Each Portfolio's past performance is not necessarily an indication of future performance.

If you purchased an investment preservation rider, you may not be able to invest in certain Portfolios. If you purchased the IPR or IPR 2.0, your available Allocation Options are listed in APPENDIX 1B. If you purchased the IPR 3.0, IPR 4.0 or IPR 5.0, your available Allocation Options are listed in APPENDIX 1C.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |
| Large Cap Equity | NYLIM VP American Century Large Cap Equity <br> (formerly NYLI VP American Century <br> Sustainable Equity) — Service Class<br>*Adviser: New York Life Investment Management* <br> *LLC ("New York Life Investments") /*<br> *Subadviser: American Century Investment* <br> *Management, Inc.*<br>| 0.93% | 11.06% | 13.68% | 11.58% |
| Asset Allocation | NYLIM VP Balanced (formerly NYLI VP <br> Balanced) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadvisers: NYL Investors LLC ("NYL* <br> *Investors") and Wellington Management* <br> *Company LLP ("Wellington")*<br>| 0.97% | 11.16% | 7.14% | 7.04% |
| Investment<br> Grade Bond<br>| NYLIM VP Bond (formerly NYLI VP Bond) — <br> Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: NYL Investors*<br>| 0.80% | 6.57% | (0.88)% | 1.71% |
| International/Global<br> Equity<br>| NYLIM VP Candriam Emerging Markets Equity <br> (formerly NYLI VP Candriam Emerging Markets <br> Equity) — Service Class<sup>+</sup> <br>*Adviser: New York Life Investments /* <br> *Subadviser: Candriam*<br>| 1.45% | 35.54% | 2.52% | 7.39%  |

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Appendix 1A-1

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Sector | NYLIM VP CBRE Global Infrastructure (formerly <br> NYLI VP CBRE Global Infrastructure) — Service <br> Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: CBRE Investment Management* <br> *Listed Real Assets LLC*<br>| 1.20% | 15.31% | 6.79% | 2.39% |
| Asset Allocation | NYLIM VP Conservative Allocation (formerly <br> NYLI VP Conservative Allocation) — Service <br> Class<br>*Adviser: New York Life Investments*<br>| 0.80% | 9.29% | 3.67% | 5.14% |
| Large Cap Equity | NYLIM VP Dimensional U.S. Equity (formerly <br> NYLI VP Dimensional U.S. Equity) — Service <br> Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Dimensional Fund Advisors LP*<br>| 0.79% | 13.46% | 12.11% | 12.40% |
| Large Cap Equity | NYLIM VP Epoch U.S. Equity Yield (formerly <br> NYLI VP Epoch U.S. Equity Yield) — Service <br> Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Epoch Investment Partners, Inc.* <br> *("Epoch")*<br>| 0.93% | 13.96% | 11.74% | 9.69% |
| Asset Allocation | NYLIM VP Equity Allocation (formerly NYLI VP <br> Equity Allocation) — Service Class<br>*Adviser: New York Life Investments*<br>| 0.94% | 13.69% | 7.90% | 9.07% |
| Sector | NYLIM VP Fidelity Institutional AM<sup>®</sup> Utilities <br> (formerly NYLI VP Fidelity Institutional AM<sup>®</sup> <br> Utilities) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: FIAM LLC ("FIAM")*<br>| 0.93% | 13.50% | 12.06% | 10.69% |
| Non-Investment<br> Grade Bond<br>| NYLIM VP Floating Rate (formerly NYLI VP <br> Floating Rate) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: NYL Investors*<br>| 0.89% | 4.86% | 5.16% | 4.74% |
| Asset Allocation | NYLIM VP Growth Allocation (formerly NYLI VP <br> Growth Allocation) — Service Class<br>*Adviser: New York Life Investments*<br>| 0.89% | 12.24% | 7.06% | 8.05% |
| Alternatives | NYLIM VP Hedge Multi-Strategy (formerly NYLI <br> VP Hedge Multi-Strategy) — Service Class<br>*Adviser: New York Life Investments*<br>| 1.26% | 7.78% | 2.67% | 1.81%  |

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Appendix 1A-2

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Asset Allocation | NYLIM VP Income Builder (formerly NYLI VP <br> Income Builder) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadvisers: Epoch and MacKay Shields LLC* <br> *("MacKay")*<br>| 0.88% | 16.70% | 6.29% | 7.13% |
| Asset Allocation | NYLIM VP Janus Henderson Balanced (formerly <br> NYLI VP Janus Henderson Balanced) — <br> Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Janus Henderson Investors US LLC* <br> *("Janus Henderson")*<br>| 0.83% | 14.76% | 8.30% | 9.91% |
| Non-Investment<br> Grade Bond<br>| NYLIM VP MacKay Convertible (formerly NYLI <br> VP MacKay Convertible) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MacKay*<br>| 0.84% | 16.11% | 5.34% | 10.10% |
| Non-Investment<br> Grade Bond<br>| NYLIM VP MacKay High Yield Corporate Bond <br> (formerly NYLI VP MacKay High Yield Corporate <br> Bond) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MacKay*<br>| 0.84% | 6.60% | 4.18% | 5.87% |
| Non-Investment<br> Grade Bond<br>| NYLIM VP MacKay Strategic Bond (formerly <br> NYLI VP MacKay Strategic Bond) — Service <br> Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MacKay*<br>| 0.90% | 8.60% | 3.73% | 4.14% |
| Investment<br> Grade Bond<br>| NYLIM VP MacKay U.S. Infrastructure Bond <br> (formerly NYLI VP MacKay U.S. Infrastructure <br> Bond) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MacKay*<br>| 0.82% | 8.17% | (0.15)% | 1.13% |
| Large Cap Equity | NYLIM VP MFS<sup>®</sup> Investors Trust (formerly NYLI <br> VP MFS<sup>®</sup> Investors Trust) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Massachusetts Financial Services* <br> *Company ("MFS")*<br>| 1.00% | N/A | N/A | N/A |
| Large Cap Equity | NYLIM VP MFS<sup>®</sup> Research (formerly NYLI VP <br> MFS<sup>®</sup> Research) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: MFS*<br>| 1.01% | N/A | N/A | N/A  |

---

Appendix 1A-3

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Asset Allocation | NYLIM VP Moderate Allocation (formerly NYLI <br> VP Moderate Allocation) — Service Class<br>*Adviser: New York Life Investments*<br>| 0.83% | 11.02% | 5.36% | 6.61% |
| Sector | NYLIM VP Natural Resources (formerly NYLI VP <br> Natural Resources) — Initial Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Newton Investment Management* <br> *North America, LLC ("NIMNA")*<br>| 0.85% | 15.20% | 17.27% | 10.88% |
| Sector | NYLIM VP Newton Technology Growth (formerly <br> NYLI VP Newton Technology Growth) — <br> Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: NIMNA*<br>| 1.03% | N/A | N/A | N/A |
| Investment<br> Grade Bond<br>| NYLIM VP PIMCO Real Return (formerly NYLI <br> VP PIMCO Real Return) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Pacific Investment Management* <br> *Company LLC ("PIMCO")*<br>| 1.34% | 7.89% | 1.11% | 3.03% |
| International/Global<br> Equity<br>| NYLIM VP PineStone International Equity <br> (formerly NYLI VP PineStone International <br> Equity) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: PineStone Asset Management Inc.*<br>| 1.11% | 12.01% | (0.05)% | 5.18% |
| Large Cap Equity | NYLIM VP S&P 500 Index (formerly NYLI VP <br> S&P 500 Index) — Service Class<br>*Adviser: New York Life Investments*<br>| 0.37% | 17.43% | 14.00% | 14.34% |
| Small/Mid Cap<br> Equity<br>| NYLIM VP Schroders Mid Cap Opportunities <br> (formerly NYLI VP Schroders Mid Cap <br> Opportunities) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Schroder Investment Management* <br> *North America Inc.*<br>| 1.08% | 7.00% | 4.79% | 7.12% |
| Small/Mid Cap<br> Equity<br>| NYLIM VP Small Cap Growth (formerly NYLI VP <br> Small Cap Growth) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadvisers: Brown Advisory, LLC and Segall* <br> *Bryant & Hamill, LLC*<br>| 1.11% | 4.63% | 1.38% | 8.68%  |

---

Appendix 1A-4

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Money Market | NYLIM VP U.S. Government Money Market <br> (formerly NYLI VP U.S. Government Money <br> Market) — Initial Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: NYL Investors*<br>| 0.28% | 4.05% | 3.02% | 1.89% |
| Large Cap Equity | NYLIM VP Wellington Growth (formerly NYLI VP <br> Wellington Growth) — Service Class<sup>+</sup> <br>*Adviser: New York Life Investments /* <br> *Subadviser: Wellington*<br>| 0.98% | 16.77% | 10.10% | 13.17% |
| Small/Mid Cap<br> Equity<br>| NYLIM VP Wellington Small Cap (formerly NYLI <br> VP Wellington Small Cap) — Service Class<br>*Adviser: New York Life Investments /* <br> *Subadviser: Wellington*<br>| 1.00% | 9.26% | 5.66% | 7.15% |
| Large Cap Equity | NYLIM VP Winslow Large Cap Growth (formerly <br> NYLI VP Winslow Large Cap Growth) — Service <br> Class<br>*Adviser: New York Life Investments*<br> */ Subadviser: Winslow Capital Management,* <br> *LLC*<br>| 1.00% | 14.07% | 12.41% | 15.85% |
| Large Cap Equity | AB VPS Relative Value Portfolio — Class B<br>*Adviser: AllianceBernstein L.P.*<br>| 0.84% | 10.20% | 11.15% | 10.30% |
| Asset Allocation | American Funds<sup>®</sup> IS Asset Allocation Fund — <br> Class 4<br>*Adviser: Capital Research and Management* <br> *Company*<sup>SM</sup> *("CRMC")*<br>| 0.79% | 15.59% | 8.70% | 9.50% |
| Investment Grade <br> Bond<br>| American Funds<sup>®</sup> IS The Bond Fund of <br> America<sup>®</sup> — Class 4<br>*Adviser: CRMC*<br>| 0.72% | 6.98% | (0.38)% | 2.11% |
| Investment<br> Grade Bond<br>| American Funds<sup>®</sup> IS Capital World Bond Fund<sup>®</sup> <br> — Class 4<br>*Adviser: CRMC*<br>| 0.98% | 9.03% | (2.76)% | 0.97% |
| Large Cap Equity | American Funds<sup>®</sup> IS Growth Fund — Class 4<br>*Adviser: CRMC*<br>| 0.83% | 19.93% | 13.09% | 17.67% |
| Large Cap Equity | American Funds<sup>®</sup> IS Growth-Income Fund — <br> Class 4<br>*Adviser: CRMC*<br>| 0.78% | 17.77% | 13.62% | 13.63%  |

---

Appendix 1A-5

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| International/Global<br> Equity<br>| American Funds<sup>®</sup> IS New World Fund<sup>®</sup> — Class <br> 4<br>*Adviser: CRMC*<br>| 1.07% | 27.92% | 5.06% | 8.98% |
| International/Global<br> Equity<br>| American Funds<sup>®</sup> IS SMALLCAP World Fund<sup>®</sup> <br> (formerly American Funds<sup>®</sup> IS Global Small <br> Capitalization Fund) — Class 4<br>*Adviser: CRMC*<br>| 1.15% | 14.33% | 0.23% | 6.96% |
| Investment<br> Grade Bond<br>| American Funds<sup>®</sup> IS U.S. Government Securities <br> Fund<sup>®</sup> — Class 4<br>*Adviser: CRMC*<br>| 0.75% | 7.54% | (0.49)% | 1.45% |
| Large Cap Equity | American Funds<sup>®</sup> IS Washington Mutual <br> Investors Fund — Class 4<br>*Adviser: CRMC*<br>| 0.75% | 16.90% | 13.60% | 12.08% |
| Asset Allocation | BlackRock<sup>®</sup> Global Allocation V.I. Fund — Class <br> III<br>*Adviser: BlackRock Advisors, LLC ("BlackRock")* <br> */ Subadvisers: BlackRock (Singapore) Limited* <br> *and BlackRock International Limited*<br>| 1.01% | 19.42% | 5.51% | 7.33% |
| Non-Investment<br> Grade Bond<br>| BlackRock<sup>®</sup> High Yield V.I. Fund — Class III<br>*Adviser: BlackRock / Subadviser: BlackRock* <br> *International Limited*<br>| 0.78% | 9.09% | 4.57% | 6.07% |
| Large Cap Equity | BNY Mellon Sustainable U.S. Equity Portfolio — <br> Service Shares<br>*Adviser: BNY Mellon Investment Adviser, Inc. /* <br> *Subadviser: Newton Investment Management* <br> *Limited*<br>| 0.91% | 15.67% | 11.65% | 13.27% |
| Sector | Columbia Variable Portfolio — Commodity <br> Strategy Fund — Class 2<sup>++</sup> <br>*Adviser: Columbia Management Investment* <br> *Advisers, LLC ("Columbia") / Subadviser:* <br> *Threadneedle International Limited*<br>| 1.00% | 15.30% | 12.44% | 6.46% |
| Non-Investment<br> Grade Bond<br>| Columbia Variable Portfolio — Emerging <br> Markets Bond Fund — Class 2<br>*Adviser: Columbia*<br>| 1.00% | 12.65% | 1.47% | 4.03% |
| Investment Grade <br> Bond<br>| Columbia Variable Portfolio — Intermediate <br> Bond Fund — Class 2<br>*Adviser: Columbia*<br>| 0.77% | 8.84% | (0.68)% | 2.52%  |

---

Appendix 1A-6

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Small/Mid Cap<br> Equity<br>| Columbia Variable Portfolio — Small Cap Value <br> Discovery Fund (formerly Columbia Variable <br> Portfolio — Small Cap Value Fund) — Class 2<br>*Adviser: Columbia*<br>| 1.13% | 14.66% | 12.19% | 11.20% |
| Small/Mid Cap <br> Equity<br>| Columbia Variable Portfolio — Small Company <br> Growth Fund — Class 2<br>*Adviser: Columbia*<br>| 1.12% | 21.69% | 3.32% | 14.89% |
| Alternatives | DWS Alternative Asset Allocation VIP — Class <br> B<br>*Adviser: DWS Investment Management* <br> *Americas Inc. / Subadviser: RREEF America* <br> *LLC*<br>| 1.31% | 10.03% | 4.88% | 4.52% |
| Investment<br> Grade Bond<br>| Fidelity<sup>®</sup> VIP Bond Index Portfolio — Service <br> Class 2<br>*Adviser: Fidelity Management & Research* <br> *Company LLC ("FMR") / Subadvisers: Other* <br> *investment advisers*<br>| 0.39% | 6.76% | (0.81)% | N/A |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Contrafund<sup>SM</sup> Portfolio — Service <br> Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.79% | 21.24% | 15.08% | 15.49% |
| International/Global<br> Equity<br>| Fidelity<sup>®</sup> VIP Emerging Markets Portfolio — <br> Service Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 1.12% | 40.79% | 5.62% | 10.66% |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> — <br> Service Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.71% | 18.75% | 12.13% | 11.32% |
| Small/Mid Cap<br> Equity<br>| Fidelity<sup>®</sup> VIP Extended Market Index Portfolio — <br> Service Class 2<br>*Adviser: FMR / Subadviser: Geode Capital* <br> *Management, LLC ("Geode")*<br>| 0.37% | 12.03% | 7.75% | N/A |
| Asset Allocation | Fidelity<sup>®</sup> VIP FundsManager<sup>®</sup> 60% Portfolio — <br> Service Class<br>*Adviser: FMR*<br>| 0.63% | 15.71% | 6.67% | 8.19%  |

---

Appendix 1A-7

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Large Cap Equity | Fidelity<sup>®</sup> VIP Growth Opportunities Portfolio — <br> Service Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.81% | 21.73% | 11.04% | 19.64% |
| Sector | Fidelity<sup>®</sup> VIP Health Care Portfolio — Service <br> Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.84% | 14.10% | 3.92% | N/A |
| International/Global <br> Equity<br>| Fidelity<sup>®</sup> VIP International Capital Appreciation <br> Portfolio — Service Class 2<br>*Adviser: FMR / Subadvisers: FIL Investment* <br> *Advisors*<br>| 1.02% | 18.36% | 5.99% | 9.53% |
| International/Global<br> Equity<br>| Fidelity<sup>®</sup> VIP International Index Portfolio — <br> Service Class 2<br>*Adviser: FMR / Subadviser: Geode*<br>| 0.41% | 32.82% | 7.76% | N/A |
| Investment Grade <br> Bond<br>| Fidelity<sup>®</sup> VIP Investment Grade Bond <br> Portfolio — Service Class 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.62% | 6.93% | (0.21)% | 2.45% |
| Small/Mid Cap<br> Equity<br>| Fidelity<sup>®</sup> VIP Mid Cap Portfolio — Service Class <br> 2<br>*Adviser: FMR / Subadvisers: Other investment* <br> *advisers*<br>| 0.80% | 11.49% | 9.83% | 10.31% |
| Sector | Franklin Gold and Precious Metals VIP Fund — <br> Class 2<br>*Adviser: Franklin Advisers, Inc. ("Franklin* <br> *Advisers")*<br>| 0.95% | N/A | N/A | N/A |
| Asset Allocation | Franklin Templeton Aggressive Model <br> Portfolio — Class II<br>*Adviser: Franklin Templeton Fund Adviser, LLC* <br> *("FTFA") / Subadviser: Franklin Advisers*<br>| 0.88% | 17.04% | 10.14% | N/A |
| Asset Allocation | Franklin Templeton Moderately Aggressive <br> Model Portfolio — Class II<br>*Adviser: FTFA / Subadviser: Franklin Advisers*<br>| 0.82% | 15.01% | 7.87% | N/A |
| Asset Allocation | Franklin Templeton Moderate Model Portfolio — <br> Class II<br>*Adviser: FTFA / Subadviser: Franklin Advisers*<br>| 0.82% | 13.18% | 6.49% | N/A  |

---

Appendix 1A-8

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Asset Allocation | Franklin Templeton Moderately Conservative <br> Model Portfolio — Class II<br>*Adviser: FTFA / Subadviser: Franklin Advisers*<br>| 0.82% | 11.51% | 4.91% | N/A |
| Asset Allocation | Franklin Templeton Conservative Model <br> Portfolio — Class II<br>*Adviser: FTFA / Subadviser: Franklin Advisers*<br>| 0.85% | 9.04% | 2.65% | N/A |
| International/Global <br> Equity<br>| Goldman Sachs VIT International Equity Insights <br> Fund — Service Class<br>*Adviser: Goldman Sachs Asset Management,* <br> *L.P.*<br>| 1.05% | 5.80% | 5.19% | 4.61% |
| International/Global<br> Equity<br>| Invesco V.I. EQV International Equity Fund — <br> Series II Shares<br>*Adviser: Invesco Advisers, Inc. ("Invesco")*<br>| 1.15% | 16.23% | 3.42% | 5.95% |
| Small/Mid Cap<br> Equity<br>| Invesco V.I. Main Street Small Cap Fund<sup>®</sup> — <br> Series II Shares<br>*Adviser: Invesco*<br>| 1.09% | 8.44% | 8.07% | 10.31% |
| Small/Mid Cap<br> Equity<br>| Janus Henderson Enterprise Portfolio — Service <br> Shares<br>*Adviser: Janus Henderson*<br>| 0.97% | 7.41% | 7.35% | 12.51% |
| International/Global<br> Equity<br>| Janus Henderson Global Research Portfolio — <br> Service Shares<br>*Adviser: Janus Henderson*<br>| 1.07% | 20.60% | 12.23% | 12.64% |
| Investment Grade <br> Bond<br>| Lord Abbett Series Fund, Inc. — Short Duration <br> Income Portfolio — Class VC<br>*Adviser: Lord, Abbett & Co. LLC*<br>| 0.72% | 5.90% | 2.25% | 2.62% |
| Large Cap Equity | LVIP ClearBridge Appreciation Fund (formerly <br> ClearBridge Variable Appreciation Portfolio) — <br> Service Class<br>*Adviser: Lincoln Financial Investments* <br> *Corporation / Subadviser: ClearBridge* <br> *Investments, LLC*<br>| 0.95% | 14.19% | 12.44% | 13.05% |
| International Equity | MFS<sup>®</sup> International Intrinsic Equity Portfolio <br> (formerly MFS<sup>®</sup> International Intrinsic Value <br> Portfolio) — Service Class<br>*Adviser: MFS*<br>| 1.14% | 32.96% | 7.02% | 9.68%  |

---

Appendix 1A-9

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Mid Cap<br> Equity<br>| MFS<sup>®</sup> Mid Cap Value Portfolio — Service Class<br>*Adviser: MFS*<br>| 1.04% | 5.75% | 9.90% | 9.69% |
| International/Global<br> Equity<br>| MFS<sup>®</sup> Research International Portfolio — <br> Service Class<br>*Adviser: MFS*<br>| 1.15% | 21.75% | 5.25% | 7.27% |
| Small/Mid Cap<br> Equity<br>| Neuberger Berman AMT Mid Cap Growth <br> Portfolio — Class S<br>*Adviser: Neuberger Berman Investment* <br> *Advisers LLC*<br>| 1.11% | 5.23% | 4.27% | 10.71% |
| Small/Mid Cap <br> Equity<br>| Nomura VIP Small Cap Value Series (formerly <br> Macquarie VIP Small Cap Value Series) — <br> Service Class<br>*Adviser: Delaware Management Company, a* <br> *series of Nomura Investment Management* <br> *Business Trust*<br>| 1.04% | 7.83% | 8.93% | 8.84% |
| Investment<br> Grade Bond<br>| PIMCO VIT Income Portfolio — Advisor Class<br>*Adviser: PIMCO*<br>| 1.02% | 10.08% | 3.31% | N/A |
| Investment<br> Grade Bond<br>| PIMCO VIT International Bond Portfolio (U.S. <br> Dollar-Hedged) — Advisor Class<br>*Adviser: PIMCO*<br>| 1.19% | 3.85% | 0.93% | 2.78% |
| Investment<br> Grade Bond<br>| PIMCO VIT Low Duration Portfolio — Advisor <br> Class<br>*Adviser: PIMCO*<br>| 0.76% | 5.42% | 1.47% | 1.69% |
| Investment<br> Grade Bond<br>| PIMCO VIT Short-Term Portfolio — Advisor <br> Class<br>*Adviser: PIMCO*<br>| 0.75% | 4.57% | 3.14% | 2.65% |
| Investment<br> Grade Bond<br>| PIMCO VIT Total Return Portfolio — Advisor <br> Class<br>*Adviser: PIMCO*<br>| 0.83% | 8.78% | (0.08)% | 2.26% |
| Sector | Principal VC Real Estate Securities Account — <br> Class 2<br>*Adviser: Principal Global Investors, LLC /* <br> *Subadviser: Principal Real Estate Investors, LLC*<br>| 1.03% | 0.92% | 4.61% | 5.67%  |

---

Appendix 1A-10

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** | **Average Annual Total Returns**<br> **(as of 12/31/25)** |
| **Type** | **Portfolio**<br> **Adviser/Sub-adviser** | **Current** <br> **Expenses\*** | **1 year** | **5 year** | **10 year** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| International/Global<br> Equity<br>| Putnam VT International Value Fund — Class IB<br>*Adviser: Putnam Investment Management, LLC /* <br> *Subadvisers: Franklin Advisers, Inc., Franklin* <br> *Templeton Investment Management Limited and* <br> *The Putnam Advisory Company, LLC*<br>| 1.06% | 34.68% | 12.49% | 8.86% |
| Large Cap Equity | Voya Growth and Income Portfolio — Class S<br>*Adviser: Voya Investments, LLC ("Voya") /* <br> *Subadviser: Voya Investment Management Co.* <br> *LLC ("VIM")*<br>| 0.92% | 17.94% | 15.18% | 14.33% |
| Investment Grade <br> Bond<br>| Voya Intermediate Bond Portfolio — Class S<br>*Adviser: Voya / Subadviser: VIM*<br>| 0.80% | 7.46% | (0.09)% | 2.42% |
| Investment<br> Grade Bond<br>| Western Asset Core Plus VIT Portfolio — Class <br> II<sup>+++</sup> <br>*Adviser: FTFA / Subadvisers: Western Asset* <br> *Management Company, LLC; Western Asset* <br> *Management Company Limited; Western Asset* <br> *Management Company Ltd.; and Western Asset* <br> *Management Company Pte. Ltd.*<br>| 0.79% | 7.69% | (1.67)% | 1.85% |

---

\*

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 thereafter at the option of the Fund. Annual expenses for the Portfolio for the year ended December 31, 2025 reflect temporary fee reductions under such an arrangement.

+

Closed for policyowners who were not invested in the Investment Division on November 13, 2017, and closed for other policyowners if all your Accumulation Value is removed from the Investment Division on or after November 13, 2017.

++

Closed for policyowners who were not invested in the Investment Division on November 23, 2020, and closed for other policyowners if all your Accumulation Value is removed from the Investment Division on or after November 23, 2020.

+++

Closed for policyowners who were not invested in the Investment Division on May 1, 2026, and closed for other policyowners if all your Accumulation Value is removed from the Investment Division on or after May 1, 2026.

The following is a list of fixed options currently available under the policy. We may change the features of the fixed options listed below and offer new fixed options. We will provide you with written notice before doing so.

---

| | | |
|:---|:---|:---|
| **Name** | **Term** | **Guaranteed** <br> **Minimum Interest** <br> **Rate**<br>|
| **Fixed Account** | N/A | **0.05%** |
| **DCA Advantage** <br> **Account**<br>| 6 months | **0.05%** |

---

Appendix 1A-11

------

**Appendix 1B**

***Investment Divisions, Model Portfolios and Asset Allocation Models available with IPR and IPR 2.0***

***Option 1 – Choose Your Own Investment Divisions*** 

---

| | | |
|:---|:---|:---|
| ***<u>Asset Allocation Categories:</u>*** |  |  |
| ***<u>Category A:</u>*** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 30<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 100<br> %<br>|  |
| ***<u>Category A Funds</u>*** |  |  |
| NYLIM VP Bond |  | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| NYLIM VP Floating Rate |  | Fidelity<sup>®</sup> VIP Investment Grade Bond Portfolio |
| NYLIM VP MacKay High Yield Corporate Bond |  | Lord Abbett Series Fund, Inc. — Short Duration Income Port |
| NYLIM VP MacKay Strategic Bond |  | PIMCO VIT Income Portfolio |
| NYLIM VP MacKay U.S. Infrastructure Bond |  | PIMCO VIT International Bond Port (U.S. Dollar-Hedged) |
| NYLIM VP PIMCO Real Return |  | PIMCO VIT Low Duration Portfolio |
| NYLIM VP U.S. Government Money Market |  | PIMCO VIT Short-Term Portfolio |
| American Funds<sup>®</sup> IS The Bond Fund of America<sup>®</sup> |  | PIMCO VIT Total Return Portfolio |
| American Funds<sup>®</sup> IS Capital World Bond Fund<sup>®</sup> |  | Voya Intermediate Bond Portfolio |
| American Funds<sup>®</sup> IS U.S. Government Securities Fund<sup>®</sup> |  | Western Asset Core Plus VIT Portfolio |
| BlackRock<sup>®</sup> High Yield V.I. Fund |  |  |
| Columbia Variable Portfolio — Emerging Markets Bond |  |  |
| Columbia Variable Portfolio — Intermediate Bond Fund |  |  |
| ***<u>Category B:</u>*** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 0<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 70<br> %<br>|  |
| **<u>Category B Funds</u>** |  |  |
| NYLIM VP American Century Large Cap Equity |  | American Funds<sup>®</sup> IS Asset Allocation Fund |
| NYLIM VP Balanced |  | American Funds<sup>®</sup> IS Growth Fund |
| NYLIM VP Conservative Allocation |  | American Funds<sup>®</sup> IS Growth-Income Fund |
| NYLIM VP Dimensional U.S. Equity |  | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| NYLIM VP Epoch U.S. Equity Yield |  | BlackRock<sup>®</sup> Global Allocation V.I. Fund |
| NYLIM VP Equity Allocation |  | BNY Mellon Sustainable U.S. Equity Portfolio |
| NYLIM VP Fidelity Institutional AM<sup>®</sup> Utilities |  | DWS Alternative Asset Allocation VIP |
| NYLIM VP Growth Allocation |  | Fidelity<sup>®</sup> VIP Contrafund<sup>SM</sup> Portfolio |
| NYLIM VP Hedge Multi-Strategy |  | Fidelity<sup>®</sup> VIP FundsManager<sup>®</sup> 60% Portfolio |
| NYLIM VP Income Builder |  | Fidelity<sup>®</sup> VIP Growth Opportunities Portfolio |
| NYLIM VP Janus Henderson Balanced |  | Franklin Templeton Moderately Aggressive Model Portfolio |
| NYLIM VP MacKay Convertible |  | Franklin Templeton Moderate Model Portfolio |
| NYLIM VP MFS<sup>®</sup> Investors Trust |  | Franklin Templeton Moderately Conservative Model Portfolio |
| NYLIM VP MFS<sup>®</sup> Research |  | Franklin Templeton Conservative Model Portfolio |
| NYLIM VP Moderate Allocation |  | LVIP ClearBridge Appreciation Fund |
| NYLIM VP S&P 500 Index |  | Voya Growth and Income Portfolio |
| NYLIM VP Wellington Growth |  |  |
| NYLIM VP Winslow Large Cap Growth |  |  |
| AB VPS Relative Value Portfolio<br>|  |  |

---

Appendix 1B-1

------

---

| | | |
|:---|:---|:---|
| ***<u>Category C:</u>*** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 0<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 10<br> %<br>|  |
| **<u>Category C Funds</u>** |  |  |
| NYLIM VP Candriam Emerging Markets Equity<br> NYLIM VP CBRE Global Infrastructure<br> NYLIM VP Natural Resources<br> NYLIM VP Newton Technology Growth<br> NYLIM VP PineStone International Equity<br> NYLIM VP Schroders Mid Cap Opportunities<br> NYLIM VP Small Cap Growth<br> NYLIM VP Wellington Small Cap<br> American Funds<sup>®</sup> IS New World Fund<sup>®</sup><br> American Funds<sup>®</sup> IS SMALLCAP World Fund<sup>®</sup><br> Columbia Variable Portfolio — Commodity Strategy<br> Columbia Variable Portfolio — Small Cap Value Discovery<br> Columbia Variable Portfolio — Small Company Growth<br> Fidelity<sup>®</sup> VIP Emerging Markets Portfolio<br> Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>Fidelity<sup>®</sup> VIP Extended Market Index Portfolio<br> Fidelity<sup>®</sup> VIP Health Care Portfolio<br>|  | &nbsp;&nbsp; Fidelity<sup>®</sup> VIP International Capital Appreciation Portfolio<br> Fidelity<sup>®</sup> VIP International Index Portfolio<br> Fidelity<sup>®</sup> VIP Mid Cap Portfolio<br> Franklin Gold and Precious Metals VIP Fund<br> Goldman Sachs VIT International Equity Insights Fund<br> Invesco V.I. EQV International Equity Fund<br> Invesco V.I. Main Street Small Cap Fund<sup>®</sup><br> Janus Henderson Enterprise Portfolio<br> Janus Henderson Global Research Portfolio<br> MFS<sup>®</sup> International Intrinsic Equity Portfolio<br> MFS<sup>®</sup> Mid Cap Value Portfolio<br> MFS<sup>®</sup> Research International Portfolio<br> Neuberger Berman AMT Mid Cap Growth Portfolio<br> Nomura VIP Small Cap Value Series<br> Principal VC Real Estate Securities Account<br> Putnam VT International Value Fund<br>|

---

***Option 2 – Franklin Templeton Model Portfolios*** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Aggressive</u>** | **<u>Moderately Aggressive</u>** | **<u>Moderate</u>** | **<u>Moderate</u>** |
| 100% | Franklin Templeton Moderately Aggressive Model <br> Portfolio<br>| 100% | Franklin Templeton Moderate Model Portfolio |
| **<u>Moderately Conservative</u>** | **<u>Moderately Conservative</u>** | **<u>Conservative</u>** | **<u>Conservative</u>** |
| 100% | Franklin Templeton Moderately Conservative Model <br> Portfolio<br>| 100% | Franklin Templeton Conservative Model Portfolio |

---

***Option 3 - Asset Allocation Models (subject to availability)*** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Aggressive</u>** | **<u>Moderately Aggressive</u>** | **<u>Moderate</u>** | **<u>Moderate</u>** |
| 10% | NYLIM VP S&P 500 Index | 10% | NYLIM VP S&P 500 Index |
| 10% | DWS Alternative Asset Allocation VIP | 10% | DWS Alternative Asset Allocation VIP |
| 7% | PIMCO VIT Total Return Portfolio | 8% | NYLIM VP Bond |
| 7% | NYLIM VP MacKay High Yield Corporate Bond | 7% | PIMCO VIT Total Return Portfolio |
| 7% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund | 7% | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| 7% | NYLIM VP Schroders Mid Cap Opportunities | 7% | NYLIM VP MacKay High Yield Corporate Bond |
| 6% | NYLIM VP Bond | 6% | NYLIM VP MacKay U.S. Infrastructure Bond |
| 6% | NYLIM VP MFS<sup>®</sup> Investors Trust | 5% | NYLIM VP PIMCO Real Return |
| 5% | NYLIM VP PIMCO Real Return | 5% | Columbia Variable Portfolio — Emerging Markets Bond |
| 5% | Columbia Variable Portfolio — Emerging Markets Bond | 5% | NYLIM VP MFS<sup>®</sup> Investors Trust |
| 5% | NYLIM VP MFS<sup>®</sup> Research | 5% | NYLIM VP MFS<sup>®</sup> Research |
| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>|
| 5% | LVIP ClearBridge Appreciation Fund | 5% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| 5% | NYLIM VP PineStone International Equity | 5% | NYLIM VP Schroders Mid Cap Opportunities |
| 5% | American Funds<sup>®</sup> IS New World Fund<sup>®</sup> | 5% | American Funds<sup>®</sup> IS New World Fund<sup>®</sup> |
| 5% | MFS<sup>®</sup> International Intrinsic Equity Portfolio | 5% | MFS<sup>®</sup> International Intrinsic Equity Portfolio |

---

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

Appendix 1B-2

------

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Conservative</u>** | **<u>Moderately Conservative</u>** | **<u>Conservative</u>** | **<u>Conservative</u>** |
| 10% | NYLIM VP Bond | 14% | PIMCO VIT International Bond Port (U.S. Dollar-Hedged) |
| 10% | PIMCO VIT Total Return Portfolio | 12% | NYLIM VP Bond |
| 10% | DWS Alternative Asset Allocation VIP | 11% | PIMCO VIT Total Return Portfolio |
| 9% | Fidelity<sup>®</sup> VIP Bond Index Portfolio | 10% | NYLIM VP MacKay U.S. Infrastructure Bond |
| 8% | NYLIM VP MacKay U.S. Infrastructure Bond | 10% | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| 7% | NYLIM VP MacKay High Yield Corporate Bond | 10% | DWS Alternative Asset Allocation VIP |
| 6% | NYLIM VP PIMCO Real Return | 7% | NYLIM VP PIMCO Real Return |
| 5% | PIMCO VIT International Bond Port (U.S. Dollar-Hedged) | 7% | NYLIM VP MacKay High Yield Corporate Bond |
| 5% | Columbia Variable Portfolio — Emerging Markets Bond | 5% | Columbia Variable Portfolio — Emerging Markets Bond |
| 5% | NYLIM VP S&P 500 Index | 4% | BlackRock<sup>®</sup> High Yield V.I. Fund |
| 5% | NYLIM VP MFS<sup>®</sup> Investors Trust | 4% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| 5% | NYLIM VP MFS<sup>®</sup> Research | 3% | NYLIM VP MFS<sup>®</sup> Research |
| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> | 3% | NYLIM VP Schroders Mid Cap Opportunities |
| 5% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |  |  |
| 5% | NYLIM VP Schroders Mid Cap Opportunities |  |  |

---

Appendix 1B-3

------

**Appendix 1C**

***Model Portfolios, Investment Divisions and Asset Allocation Models available with IPR 3.0, IPR 4.0 and IPR 5.0***

***Option 1 – Franklin Templeton Model Portfolios*** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Aggressive</u>** | **<u>Moderately Aggressive</u>** | **<u>Moderate</u>** | **<u>Moderate</u>** |
| 100% | Franklin Templeton Moderately Aggressive Model<br> Portfolio<br>| 100% | Franklin Templeton Moderate Model Portfolio |
| **<u>Moderately Conservative</u>** | **<u>Moderately Conservative</u>** | **<u>Conservative</u>** *(For IPR 4.0 and IPR 5.0, only available* <br> *with 20-year holding period)* | **<u>Conservative</u>** *(For IPR 4.0 and IPR 5.0, only available* <br> *with 20-year holding period)* |
| 100% | Franklin Templeton Moderately Conservative Model<br> Portfolio<br>| 100% | Franklin Templeton Conservative Model Portfolio |

---

***Option 2 – Choose Your Own Investment Divisions*** 

---

| | | |
|:---|:---|:---|
| **<u>Category A:</u>** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 30<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 100<br> %<br>|  |
| **<u>Subcategory I Funds (Minimum Allocation 10% - total among all the subcategory I Funds)</u>** | **<u>Subcategory I Funds (Minimum Allocation 10% - total among all the subcategory I Funds)</u>** | **<u>Subcategory I Funds (Minimum Allocation 10% - total among all the subcategory I Funds)</u>** |
| NYLIM VP Bond<br> NYLIM VP MacKay U.S. Infrastructure Bond<br> NYLIM VP PIMCO Real Return<br> NYLIM VP U.S. Government Money Market<br> American Funds<sup>®</sup> IS The Bond Fund of America<sup>®</sup><br> American Funds<sup>®</sup> IS Capital World Bond Fund<sup>®</sup><br> American Funds<sup>®</sup> IS U.S. Government Securities Fund<sup>®</sup><br> Columbia Variable Portfolio — Intermediate Bond Fund<br> Fidelity<sup>®</sup> VIP Bond Index Portfolio<br> Fidelity<sup>®</sup> VIP Investment Grade Bond Portfolio<br>|  | &nbsp;&nbsp; Lord Abbett Series Fund, Inc. — Short Duration Income Port<br> PIMCO VIT Income Portfolio<br> PIMCO VIT International Bond Port (U.S. Dollar-Hedged)<br> PIMCO VIT Low Duration Portfolio<br> PIMCO VIT Short-Term Portfolio<br> PIMCO VIT Total Return Portfolio<br> Voya Intermediate Bond Portfolio<br> Western Asset Core Plus VIT Portfolio<br>|
| **<u>Subcategory II Funds</u>** |  |  |
| NYLIM VP Floating Rate<br> NYLIM VP MacKay High Yield Corporate Bond<br> NYLIM VP MacKay Strategic Bond<br>|  | &nbsp;&nbsp; BlackRock<sup>®</sup> High Yield V.I. Fund<br> Columbia Variable Portfolio — Emerging Markets Bond<br>|
| ***<u>Category B:</u>*** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 0<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 70<br> %<br>|  |
| **<u>Category B Funds</u>** |  |  |
| NYLIM VP American Century Large Cap Equity<br> NYLIM VP Dimensional U.S. Equity<br> NYLIM VP Epoch U.S. Equity Yield<br> NYLIM VP Hedge Multi-Strategy<br> NYLIM VP MacKay Convertible<br> NYLIM VP MFS<sup>®</sup> Investors Trust<br> NYLIM VP MFS<sup>®</sup> Research<br> NYLIM VP S&P 500 Index<br> NYLIM VP Winslow Large Cap Growth<br> AB VPS Relative Value Portfolio<br>|  | &nbsp;&nbsp; American Funds<sup>®</sup> IS Growth Fund<br> American Funds<sup>®</sup> IS Growth-Income Fund<br> American Funds<sup>®</sup> IS Washington Mutual Investors Fund<br> BNY Mellon Sustainable U.S. Equity Portfolio<br> DWS Alternative Asset Allocation VIP<br> Fidelity<sup>®</sup> VIP Contrafund<sup>SM</sup> Portfolio<br> Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>Fidelity<sup>®</sup> VIP Growth Opportunities Portfolio<br> LVIP ClearBridge Appreciation Fund<br> Voya Growth and Income Portfolio <br>|

---

Appendix 1C-1

------

---

| | | |
|:---|:---|:---|
| ***<u>Category C:</u>*** |  |  |
| Minimum Allocation | &nbsp;&nbsp; 0<br> %<br>|  |
| Maximum Allocation | &nbsp;&nbsp; 25<br> %<br>|  |
| **<u>Subcategory I Funds (Maximum Allocation 15% - total among all the subcategory I Funds)</u>** | **<u>Subcategory I Funds (Maximum Allocation 15% - total among all the subcategory I Funds)</u>** | **<u>Subcategory I Funds (Maximum Allocation 15% - total among all the subcategory I Funds)</u>** |
| NYLIM VP Schroders Mid Cap Opportunities<br> NYLIM VP Small Cap Growth<br> NYLIM VP Wellington Small Cap<br> Columbia Variable Portfolio — Small Cap Value Discovery<br> Columbia Variable Portfolio — Small Company Growth<br> Fidelity<sup>®</sup> VIP Extended Market Index Portfolio<br>|  | &nbsp;&nbsp; Fidelity<sup>®</sup> VIP Mid Cap Portfolio<br> Invesco V.I. Main Street Small Cap Fund<sup>®</sup><br> Janus Henderson Enterprise Portfolio<br> MFS<sup>®</sup> Mid Cap Value Portfolio<br> Neuberger Berman AMT Mid Cap Growth Portfolio<br> Nomura VIP Small Cap Value Series<br>|
| **<u>Subcategory II Funds (Maximum Allocation 15% - total among all the subcategory II Funds)</u>** | **<u>Subcategory II Funds (Maximum Allocation 15% - total among all the subcategory II Funds)</u>** | **<u>Subcategory II Funds (Maximum Allocation 15% - total among all the subcategory II Funds)</u>** |
| NYLIM VP PineStone International Equity<br> American Funds<sup>®</sup> IS New World Fund<sup>®</sup><br> American Funds<sup>®</sup> IS SMALLCAP World Fund<sup>®</sup><br> Fidelity<sup>®</sup> VIP Emerging Markets Portfolio<br> Fidelity<sup>®</sup> VIP International Capital Appreciation Portfolio<br> Fidelity<sup>®</sup> VIP International Index Portfolio<br>|  | &nbsp;&nbsp; Goldman Sachs VIT International Equity Insights Fund<br> Invesco V.I. EQV International Equity Fund<br> Janus Henderson Global Research Portfolio<br> MFS<sup>®</sup> International Intrinsic Equity Portfolio<br> MFS<sup>®</sup> Research International Portfolio<br> Putnam VT International Value Fund<br>|
| **<u>Subcategory III Funds (Maximum Allocation 10% - total among all the subcategory III Funds)</u>** | **<u>Subcategory III Funds (Maximum Allocation 10% - total among all the subcategory III Funds)</u>** | **<u>Subcategory III Funds (Maximum Allocation 10% - total among all the subcategory III Funds)</u>** |
| NYLIM VP CBRE Global Infrastructure<br> NYLIM VP Fidelity Institutional AM<sup>®</sup> Utilities<br> NYLIM VP Natural Resources<br> NYLIM VP Newton Technology Growth<br>|  | &nbsp;&nbsp; Columbia Variable Portfolio — Commodity Strategy<br> Fidelity<sup>®</sup> VIP Health Care Portfolio<br> Franklin Gold and Precious Metals VIP Fund<br> Principal VC Real Estate Securities Account<br>|

---

***Option 3 – Asset Allocation Funds:*** 

---

| | |
|:---|:---|
| **<u>Category D:</u>** |  |
| Minimum Allocation | &nbsp;&nbsp; 100<br> %<br>|
| **<u>Category D Asset Allocation Funds</u>** |  |
| NYLIM VP Balanced<br> NYLIM VP Conservative Allocation<br> NYLIM VP Income Builder<br> NYLIM VP Janus Henderson Balanced<br> NYLIM VP Moderate Allocation<br> American Funds<sup>®</sup> IS Asset Allocation Fund<br> BlackRock<sup>®</sup> Global Allocation V.I. Fund<br> Fidelity<sup>®</sup> VIP FundsManager<sup>®</sup> 60% Portfolio<br> Franklin Templeton Moderately Aggressive Model Portfolio<br> Franklin Templeton Moderate Model Portfolio<br> Franklin Templeton Moderately Conservative Model Portfolio<br> Franklin Templeton Conservative Model Portfolio<br>|  |

---

***Option 4 – Asset Allocation Models (subject to availability; not available with IPR 5.0)*** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Aggressive</u>** | **<u>Moderately Aggressive</u>** | **<u>Moderate</u>** | **<u>Moderate</u>** |
| 10% | NYLIM VP S&P 500 Index | 10% | NYLIM VP S&P 500 Index |
| 10% | DWS Alternative Asset Allocation VIP | 10% | DWS Alternative Asset Allocation VIP |
| 7% | PIMCO VIT Total Return Portfolio | 8% | NYLIM VP Bond |
| 7% | NYLIM VP MacKay High Yield Corporate Bond | 7% | PIMCO VIT Total Return Portfolio |
| 7% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund | 7% | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| 7% | NYLIM VP Schroders Mid Cap Opportunities | 7% | NYLIM VP MacKay High Yield Corporate Bond  |

---

Appendix 1C-2

------

---

| | |
|:---|:---|
| **<u>Moderately Aggressive</u>** | **<u>Moderate</u>** |

---

---

| | | | |
|:---|:---|:---|:---|
| 6% | NYLIM VP Bond | 6% | NYLIM VP MacKay U.S. Infrastructure Bond |
| 6% | NYLIM VP MFS<sup>®</sup> Investors Trust | 5% | NYLIM VP PIMCO Real Return |
| 5% | NYLIM VP PIMCO Real Return | 5% | Columbia Variable Portfolio — Emerging Markets Bond |
| 5% | Columbia Variable Portfolio — Emerging Markets Bond | 5% | NYLIM VP MFS<sup>®</sup> Investors Trust |
| 5% | NYLIM VP MFS<sup>®</sup> Research | 5% | NYLIM VP MFS<sup>®</sup> Research |
| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> <br>|
| 5% | LVIP ClearBridge Appreciation Fund | 5% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| 5% | NYLIM VP PineStone International Equity | 5% | NYLIM VP Schroders Mid Cap Opportunities |
| 5% | American Funds<sup>®</sup> IS New World Fund<sup>®</sup> | 5% | American Funds<sup>®</sup> IS New World Fund<sup>®</sup> |
| 5% | MFS<sup>®</sup> International Intrinsic Equity Portfolio | 5% | MFS<sup>®</sup> International Intrinsic Equity Portfolio |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **<u>Moderately Conservative</u>** | **<u>Moderately Conservative</u>** | **<u>Conservative</u>** | **<u>Conservative</u>** |
| 10% | NYLIM VP Bond | 14% | PIMCO VIT International Bond Port (U.S. Dollar-Hedged) |
| 10% | PIMCO VIT Total Return Portfolio | 12% | NYLIM VP Bond |
| 10% | DWS Alternative Asset Allocation VIP | 11% | PIMCO VIT Total Return Portfolio |
| 9% | Fidelity<sup>®</sup> VIP Bond Index Portfolio | 10% | NYLIM VP MacKay U.S. Infrastructure Bond |
| 8% | NYLIM VP MacKay U.S. Infrastructure Bond | 10% | Fidelity<sup>®</sup> VIP Bond Index Portfolio |
| 7% | NYLIM VP MacKay High Yield Corporate Bond | 10% | DWS Alternative Asset Allocation VIP |
| 6% | NYLIM VP PIMCO Real Return | 7% | NYLIM VP PIMCO Real Return |
| 5% | PIMCO VIT International Bond Port (U.S. Dollar-Hedged) | 7% | NYLIM VP MacKay High Yield Corporate Bond |
| 5% | Columbia Variable Portfolio — Emerging Markets Bond | 5% | Columbia Variable Portfolio — Emerging Markets Bond |
| 5% | NYLIM VP S&P 500 Index | 4% | BlackRock<sup>®</sup> High Yield V.I. Fund |
| 5% | NYLIM VP MFS<sup>®</sup> Investors Trust | 4% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |
| 5% | NYLIM VP MFS<sup>®</sup> Research | 3% | NYLIM VP MFS<sup>®</sup> Research |
| 5% | Fidelity<sup>®</sup> VIP Equity-Income Portfolio<sup>SM</sup> | 3% | NYLIM VP Schroders Mid Cap Opportunities |
| 5% | American Funds<sup>®</sup> IS Washington Mutual Investors Fund |  |  |
| 5% | NYLIM VP Schroders Mid Cap Opportunities |  |  |

---

Appendix 1C-3

------

**Appendix 2** 

***FIR AVAILABILITY BY PLAN TYPE***

**(not available for applications signed on or after May 1, 2017)** 

Other types of plans may also be made available. Contact your registered representative for more information.

---

| | | |
|:---|:---|:---|
| **Non Qualified** | Base Policy Issue Ages \* | 0–80 |
| **Non Qualified** | FIR Availability \*\* | 0–80 |
| **Non Qualified** | Earliest FIR Income Start Date | Age 20 |
| **Non Qualified** | Latest FIR Income Start Date | Age ˂ 86 |
| **Non Qualified** | Latest FIR Purchase | Age ˂ 84 |
| **Traditional IRA** | Base Policy Issue Ages\* | 18–80 |
| **Traditional IRA** | FIR Availability \*\* | &nbsp;&nbsp; 18–two years prior to the Future <br> Income Start Date<br>|
| **Traditional IRA** | Earliest FIR Income Start Date | Age 18 |
| **Traditional IRA** | Latest FIR Income Start Date | April 1 after year you attain age 73 |
| **Traditional IRA** | Latest FIR Purchase | &nbsp;&nbsp; Two years prior to the Future Income <br> Start Date<br>|
| **Roth IRA** | Base Policy Issue Ages\* | 18–80 |
| **Roth IRA** | FIR Availability \*\* | 20–80 |
| **Roth IRA** | Earliest FIR Income Start Date | Age 59½ |
| **Roth IRA** | Latest FIR Income Start Date | Age ˂ 86 |
| **Roth IRA** | Latest FIR Purchase | Age ˂ 84 |
| **Inherited IRA** | Base Policy Issue Ages\* | 0–80 |
| **Inherited IRA** | FIR Availability \*\* | Not available |
| **Inherited IRA** | Earliest FIR Income Start Date | N/A |
| **Inherited IRA** | Latest FIR Income Start Date | N/A |
| **Inherited IRA** | Latest FIR Purchase | N/A |
| **SEP IRA / SIMPLE IRA** | Base Policy Issue Ages\* | 18–80 |
| **SEP IRA / SIMPLE IRA** | FIR Availability \*\* | Not available |
| **SEP IRA / SIMPLE IRA** | Earliest FIR Income Start Date | N/A |
| **SEP IRA / SIMPLE IRA** | Latest FIR Income Start Date | N/A |
| **SEP IRA / SIMPLE IRA** | Latest FIR Purchase | N/A |
| **Non–Erisa TSA / 403(b) / One** <br> **Person Pension / Keogh** | Base Policy Issue Ages\* | 18–80 |
| **Non–Erisa TSA / 403(b) / One** <br> **Person Pension / Keogh** | FIR Availability \*\* | Not available |
| **Non–Erisa TSA / 403(b) / One** <br> **Person Pension / Keogh** | Earliest FIR Income Start Date | N/A |
| **Non–Erisa TSA / 403(b) / One** <br> **Person Pension / Keogh** | Latest FIR Income Start Date | N/A |
| **Non–Erisa TSA / 403(b) / One** <br> **Person Pension / Keogh** | Latest FIR Purchase | N/A |

---

\*

Base policy issue ages are based on owner(s) age

\*\*

Based on age of the Annuitant. We automatically issue the FIR if the Annuitant falls within the range displayed

Appendix 2-1

------

**Appendix 3**

***State Variations*** 

---

| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |
| California | &nbsp;&nbsp; Your Right to Cancel ("Free <br> Look")<br>| &nbsp;&nbsp; If you are age 60 or older at the time the policy is issued, you <br> may cancel the policy within 30 days from the date you received <br> it and receive a refund as follows:<br>(a) If you do not direct the premium payment(s) be invested <br> in the Investment Divisions, we will return your (i) policy <br> charge and (ii) premium payment(s), less any <br> withdrawals.<br>(b) If you direct the premium payment(s) be invested in the <br> Investment Divisions, we will return your (i) policy charge <br> and (ii) Account Value, on the day we receive your <br> request, in Good Order, less any withdrawals. |
|  | E- Delivery Credit | &nbsp;&nbsp; You may select electronic delivery; however, the e-delivery <br> credit is not available. |
|  | Income Payments | &nbsp;&nbsp; Income Payments may be less than those that we would <br> provide to the same class of Annuitants if the Accumulation <br> Value, less any applicable Surrender Charges, was used to <br> purchase any single premium immediate annuity we offer on <br> the Annuity Commencement Date. |
|  | &nbsp;&nbsp; Ownership changes or <br> assignment of the Annual <br> Death Benefit Reset (ADBR) <br> Rider<br>| &nbsp;&nbsp; An ownership change or assignment of the policy does not <br> terminate the ADBR Rider. |
|  | &nbsp;&nbsp; Ownership changes or <br> assignment of the Investment <br> Preservation Riders<br>| &nbsp;&nbsp; An ownership change or assignment of the policy does not <br> terminate the Investment Preservation Rider, the Investment <br> Preservation Rider 2.0, the Investment Preservation Rider 3.0, <br> the Investment Preservation Rider 4.0 or the Investment <br> Preservation Rider 5.0. |
| Connecticut | IPR 5.0 Death Benefit | &nbsp;&nbsp; For policies with an application, signed on or after <br> November 13, 2023, in the calculation of the IPR 5.0 Death <br> Benefit, the Guaranteed Amount will not be reduced by any <br> Premium Credits applied within twelve (12) months of the date <br> of Owner's death. |
|  | &nbsp;&nbsp; IPR 5.0 – Rider Risk Charge <br> Adjustment<br>| &nbsp;&nbsp; For policies with an application signed on or after November 13, <br> 2023, the Rider Risk Charge Adjustment does not apply for <br> cancellation of the IPR 5.0. |
|  | &nbsp;&nbsp; Ownership Change or <br> Assignment of the Policy and <br> IPR 5.0<br>| &nbsp;&nbsp; For policies with an application signed on or after November 13, <br> 2023, an ownership change of the policy terminates the IPR <br> 5.0 but an assignment of the policy does not terminate the IPR <br> 5.0. |
|  | &nbsp;&nbsp; Annual Death Benefit Reset <br> (ADBR) Rider<br>| &nbsp;&nbsp; In the calculation of the ADBR Reset Value, there will not be a <br> reduction of any premium credits applied within twelve <br> (12) months of the date of Owner's death. |
|  | &nbsp;&nbsp; Annual Death Benefit Reset <br> (ADBR) Rider<br>| &nbsp;&nbsp; An ownership change of the policy terminates the ADBR but an <br> assignment of the policy does not terminate the ADBR.  |

---

Appendix 3-1

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| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |

---

---

| | | |
|:---|:---|:---|
| Delaware | Income Payments | &nbsp;&nbsp; Income Payments may be less than those that we would <br> provide to the same class of Annuitants if the Accumulation <br> Value, less any applicable Surrender Charges, was used to <br> purchase any single premium immediate annuity we offer on <br> the Annuity Commencement Date. |
| Florida | &nbsp;&nbsp; Your Right to Cancel ("Free <br> Look")<br>| &nbsp;&nbsp; You may cancel the policy within 21 days from the date you <br> received it and receive (i) any policy charge, (ii) and <br> Accumulation Value. |
|  | E- Delivery Credit | &nbsp;&nbsp; You may select electronic delivery; however, the e-delivery <br> credit is not available. |
|  | Income Payments | &nbsp;&nbsp; Income Payments may be less than those that we would <br> provide to the same class of Annuitants if the Accumulation <br> Value, less any applicable Surrender Charges, was used to <br> purchase any single premium immediate annuity we offer on <br> the Annuity Commencement Date. |
|  | &nbsp;&nbsp; Ownership changes or <br> assignment of the Investment <br> Preservation Riders<br>| &nbsp;&nbsp; An ownership change or assignment of the policy does not <br> terminate the Investment Preservation Rider, the Investment <br> Preservation Rider 2.0, Investment Preservation Rider 3.0, the <br> Investment Preservation Rider 4.0 or the Investment Rider 5.0. |
|  | &nbsp;&nbsp; Ownership changes or <br> assignment of the Annual <br> Death Benefit Reset (ADBR) <br> Rider<br>| &nbsp;&nbsp; An ownership change or assignment of the policy does not <br> terminate the ADBR Rider. |
| New Jersey | &nbsp;&nbsp; Civil Union Partner <br> Endorsement<br>| &nbsp;&nbsp; Civil Union partners are permitted to continue the policy under <br> the spousal continuance provisions with the following <br> exceptions. If your Civil Union Partner continues the policy after <br> your death, your Civil Union Partner will have all rights of <br> ownership. However, to comply with the Internal Revenue Code <br> and the applicable Treasury Regulations, the entire proceeds of <br> the policy must be either be:<br>(a) disbursed within five years of the original Owner's death; <br> or<br>(b) placed under the Life Income – Guaranteed Period <br> Payment Option or any other Income Payment option <br> that is available at that time, provided that such <br> payments are made over the life of the Civil Union <br> Partner or over a number of years that is not more than <br> the life expectancy of the Civil Union Partner (as <br> determined for federal tax purposes) at the time of the <br> original Owner's death, and begin within one year after <br> the original Owner's death. |
|  | IPR Death Benefit | &nbsp;&nbsp; For policies with an application signed on or after November 13, <br> 2023, the IPR 5.0 Death Benefit is not available.  |

---

Appendix 3-2

------

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| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |

---

---

| | | |
|:---|:---|:---|
| New York | Nonforfeiture Value | &nbsp;&nbsp; Nonforfeiture Value—The Nonforfeiture Value is equal to 100% <br> of the Consideration(s) allocated to the Fixed Account and/or to <br> the DCA Advantage Account accumulated at the crediting rate <br> (which shall be no less than the Nonforfeiture Rate) since the <br> Payment Date or transfer date, minus any amounts withdrawn <br> or transferred from the Fixed Account and/or from the DCA <br> Advantage Account, with the remaining amount accumulated at <br> the crediting rate since the date of withdrawal or transfer. |
|  | &nbsp;&nbsp; Annual Death Benefit Reset <br> (ADBR) Rider<br>| &nbsp;&nbsp; (a) The name of the ADBR rider is "Guaranteed Minimum <br> Death Benefit Rider".<br>(b) An ownership change or assignment of the policy does <br> not terminate the ADBR rider. |
|  | &nbsp;&nbsp; Annual Death Benefit Reset <br> (ADBR) Rider Charge<br>| &nbsp;&nbsp; The ADBR rider charge will be deducted from each Investment <br> Division in proportion to its percentage of the Variable Account <br> Value of the applicable quarter and will not reduce your <br> Adjusted Premium Payments. |
|  | Income Payments | &nbsp;&nbsp; Income Payments will not be less than those that we would <br> provide to the same class of Annuitants if the Accumulation <br> Value was used to purchase any single premium immediate <br> annuity offered by NYLIAC on the Annuity Commencement <br> Date. |
|  | &nbsp;&nbsp; Investment Preservation <br> Riders<br>| &nbsp;&nbsp; (a) While a policy is in force we may not suspend or <br> discontinue your right to reset the guaranteed amount.<br>(b) If you discontinue the rider we will not charge a Rider <br> Risk Charge Adjustment.<br>(c) An ownership change or assignment of the policy does <br> not terminate the IPR, IPR 2.0, IPR 3.0 or IPR 4.0.<br>(d) The IPR death benefit on the 20 year Holding Period is <br> 100% of the premium payments made in the first Policy <br> Year (less proportional withdrawals) or, if there is a reset, <br> 100% of the Accumulation Value as of the most recent <br> Rider Reset Effective Date (less withdrawals made after <br> such date.)<br>(e) The name of the IPR, IPR 3.0, IPR 4.0 and IPR 5.0 is <br> Guaranteed Minimum Account Benefit. The name of the <br> IPR 2.0 is Guaranteed Minimum Account Benefit 2.0.<br>(f) The IPR Guaranteed Amount under the IPR, IPR 2.0, IPR <br> 3.0, IPR 4.0 or IPR 5.0 will not be lower than 100% of the <br> premium payments made in the first Policy Year. |
|  | &nbsp;&nbsp; Deduction of Charges relating <br> to the Investment <br> Preservation Riders<br>| &nbsp;&nbsp; The IPR, IPR 2.0, IPR 3.0 and IPR 4.0 charge will be deducted <br> from each Investment Division based on funds in each Rider <br> Allocation Option each policy quarter. |
|  | IPR Death Benefit | &nbsp;&nbsp; The IPR 2.0, IPR 3.0, IPR 4.0 and IPR 5.0 Death Benefit is not <br> available.  |

---

Appendix 3-3

------

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| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |

---

---

| | |
|:---|:---|
| Future Income Rider | &nbsp;&nbsp; (a) Total Future Income Purchases may not be more than <br> 25% of your Accumulation Value in a given Policy Year.<br>(b) The Future Income Payment amount purchased will be <br> no less than the greater of: a) the amount that could be <br> purchased by applying the Future Income Purchase to <br> the Future Income purchase rate guarantees in this <br> Rider; and b) the amount that could be purchased by <br> applying the Future Income Purchase under any <br> guaranteed paid-up deferred annuity policy offered by <br> NYLIAC to the same class of annuitants on the Future <br> Income Start Date.<br>(c) The name of the FIR is "Guaranteed Paid-Up Deferred <br> Annuity Benefit Rider". |
| &nbsp;&nbsp; Definition of Adjusted <br> Premium Payment<br>| &nbsp;&nbsp; The definition of "Adjusted Premium Payment"—is the total <br> dollar amount of premium payments made under the policy and <br> allocated to the Investment Divisions of the Separate Account <br> reduced by any withdrawals (including Future Income <br> Purchases) and applicable surrender charges in excess of any <br> gain in the policy. |
| &nbsp;&nbsp; Your Right to Cancel ("Free <br> Look")<br>| &nbsp;&nbsp; You may cancel the policy within ten (10) days from the date <br> you received it and receive (i) any policy charge, (ii) and <br> premium payment(s), less any withdrawals. |
| &nbsp;&nbsp; Automatic Asset Rebalancing <br> (AAR)<br>| &nbsp;&nbsp; You must affirmatively elect AAR on your application or in a <br> subsequent notice for your policy to be subject to AAR. |
| Delay of Payments | &nbsp;&nbsp; We will pay interest on deferred payments of any partial <br> withdrawal or full surrender request deferred for ten (10) days <br> or more. |
| &nbsp;&nbsp; Our Right to Cancel for <br> policies with less than $20 per <br> month of Accumulation Value<br>| &nbsp;&nbsp; If we do not receive premium payments for a period of three <br> years, and the Accumulation Value of your policy would provide <br> Income Payments of less than $20 per month on the Annuity <br> Commencement Date, we reserve the right to terminate your <br> policy. |
| &nbsp;&nbsp; Minimum Premium Payment <br> for the Premium Credit<br>| &nbsp;&nbsp; (a) You may qualify for the 4% Premium Credit Rate even if <br> your initial premium payment is less than $500,000, if at <br> the time you purchase a New York Life Premier Plus <br> Variable Annuity II policy, you also purchased additional <br> policies for this same product at the same time and the <br> aggregate initial premium paid on all the policies is at <br> least $1 0 million. In order to aggregate premiums, you <br> must, before purchasing the policy, inform your <br> registered representative that you have policies that can <br> be aggregated.<br>(b) We will not deduct from the death benefit proceeds any <br> Premium Credit applied within 12 months immediately <br> preceding the date of death of the Owner or Annuitant.  |

---

Appendix 3-4

------

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| | | |
|:---|:---|:---|
| **State** | **Features/Benefits** | **State Variation** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; Surrender Charges – for <br> policies issued in New York <br> with an application signed on <br> or after November 13, 2023 | **Payment Year** | **Surrender Charge** |
|  | &nbsp;&nbsp; Surrender Charges – for <br> policies issued in New York <br> with an application signed on <br> or after November 13, 2023 | 1 | 8% |
|  | &nbsp;&nbsp; Surrender Charges – for <br> policies issued in New York <br> with an application signed on <br> or after November 13, 2023 | 2 | 8% |
|  | &nbsp;&nbsp; Surrender Charges – for <br> policies issued in New York <br> with an application signed on <br> or after November 13, 2023 | 3 | 7% |
|  | &nbsp;&nbsp; Surrender Charges – for <br> policies issued in New York <br> with an application signed on <br> or after November 13, 2023 | 4 | 6% |
|  | &nbsp;&nbsp; Surrender Charges – for <br> policies issued in New York <br> with an application signed on <br> or after November 13, 2023 | 5 | 5% |
|  | &nbsp;&nbsp; Surrender Charges – for <br> policies issued in New York <br> with an application signed on <br> or after November 13, 2023 | 6 | 4% |
|  | &nbsp;&nbsp; Surrender Charges – for <br> policies issued in New York <br> with an application signed on <br> or after November 13, 2023 | 7 | 3% |
|  | &nbsp;&nbsp; Surrender Charges – for <br> policies issued in New York <br> with an application signed on <br> or after November 13, 2023 | 8 | 0% |
| North Dakota | &nbsp;&nbsp; Your Right to Cancel ("Free <br> Look")<br>| &nbsp;&nbsp; You may cancel the policy within twenty (20) days from the date <br> you received it and receive (i) any rider charge, and (ii) the <br> account value. | &nbsp;&nbsp; You may cancel the policy within twenty (20) days from the date <br> you received it and receive (i) any rider charge, and (ii) the <br> account value. |
|  | E-Delivery Credit | &nbsp;&nbsp; You may select electronic delivery; however, the e-delivery <br> credit is not available. | &nbsp;&nbsp; You may select electronic delivery; however, the e-delivery <br> credit is not available. |
|  | Income Payments | &nbsp;&nbsp; Income Payments may be less than those that we would <br> provide to the same class of Annuitants if the Accumulation <br> Value, less any applicable Surrender Charges, was used to <br> purchase any single premium immediate annuity we offer on <br> the Annuity Commencement Date. | &nbsp;&nbsp; Income Payments may be less than those that we would <br> provide to the same class of Annuitants if the Accumulation <br> Value, less any applicable Surrender Charges, was used to <br> purchase any single premium immediate annuity we offer on <br> the Annuity Commencement Date. |
| South Dakota | Income Payments | &nbsp;&nbsp; Income Payments may be less than those that we would <br> provide to the same class of Annuitants if the Accumulation <br> Value, less any applicable Surrender Charges, was used to <br> purchase any single premium immediate annuity we offer on <br> the Annuity Commencement Date. | &nbsp;&nbsp; Income Payments may be less than those that we would <br> provide to the same class of Annuitants if the Accumulation <br> Value, less any applicable Surrender Charges, was used to <br> purchase any single premium immediate annuity we offer on <br> the Annuity Commencement Date. |
| Washington DC | Income Payments | &nbsp;&nbsp; Income Payments may be less than those that we would <br> provide to the same class of Annuitants if the Accumulation <br> Value, less any applicable Surrender Charges, was used to <br> purchase any single premium immediate annuity we offer on <br> the Annuity Commencement Date. | &nbsp;&nbsp; Income Payments may be less than those that we would <br> provide to the same class of Annuitants if the Accumulation <br> Value, less any applicable Surrender Charges, was used to <br> purchase any single premium immediate annuity we offer on <br> the Annuity Commencement Date. |
| Washington | &nbsp;&nbsp; IPR 5.0 – Annual Charge and <br> Rider Risk Charge Adjustment<br>| &nbsp;&nbsp; For policies with an application signed on or after November 13, <br> 2023, the IPR 5.0 annual charge is a percentage of the amount <br> that is guaranteed including amounts allocated to the DCA <br> Advantage Account but the annual charge and the Rider Risk <br> Charge Adjustment may not be deducted from the DCA <br> Advantage Account. | &nbsp;&nbsp; For policies with an application signed on or after November 13, <br> 2023, the IPR 5.0 annual charge is a percentage of the amount <br> that is guaranteed including amounts allocated to the DCA <br> Advantage Account but the annual charge and the Rider Risk <br> Charge Adjustment may not be deducted from the DCA <br> Advantage Account. |

---

Appendix 3-5

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**Appendix 4**

***HISTORICAL CHARGES AND VALUES FOR CERTAIN OPTIONAL BENEFITS***

**Charges for Resets of the Investment Preservation Riders** 

**IPR RESETS** 

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| | | | |
|:---|:---|:---|:---|
| **IPR (Policies applied for between May 1, 2015 and April 30, 2016)** | **IPR (Policies applied for between May 1, 2015 and April 30, 2016)** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 and November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.85% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 and November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 and November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 and November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 and November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.80% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.65% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.55% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.45% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.55% |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **IPR (Policies applied for between May 1, 2016 and April 30, 2017)** | **IPR (Policies applied for between May 1, 2016 and April 30, 2017)** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 to November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.95% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 to November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.75% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 to November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.65% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 to November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.55% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between May 1, 2016 to November 12,** <br> **2017**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.85% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge if you elected an IPR** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.60% |

---

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

Appendix 4-1

------

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| | | | |
|:---|:---|:---|:---|
| **IPR 2.0** | **IPR 2.0** | **Guaranteed**<br> **Maximum Charge**<br>| **Current**<br> **Charge**<br>|
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 2.0, deducted on a quarterly basis) | 12 Year Holding Period | 1.50% | 0.85% |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 2.0, deducted on a quarterly basis) | 13 Year Holding Period | 1.50% | 0.70% |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 2.0, deducted on a quarterly basis) | 14 Year Holding Period | 1.50% | 0.60% |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 2.0, deducted on a quarterly basis) | 15 Year Holding Period | 1.50% | 0.50% |
| **Annual Charge if you elect an IPR 2.0** <br> **Reset with a Rider Reset Effective Date** <br> **between November 13, 2017 and** <br> **April 30, 2019**<br>(calculated as an annualized percentage of <br> the amount that is guaranteed under the <br> IPR 2.0, deducted on a quarterly basis) | 20 Year Holding Period | 1.50% | 0.60% |

---

**Charges for IPR Portion of the IPR + ADBR Package** 

For policies applied for before May 1, 2016 and IPR resets with a Rider Reset Effective Date on or prior to April 30, 2019 the charge for the IPR portion of the IPR + ADBR Package is 0.05% less than the charge for the corresponding IPR purchased without the ADBR (see historic charges for the IPR in this Appendix 4). The annual charge of the IPR portion is calculated as the sum of (1) the Investment Preservation Rider Charge, calculated as an annualized percentage of the amount guaranteed under the Investment Preservation Rider; and (2) the Annual Death Benefit Reset Rider Charge, calculated as an annualized percentage of the ADBR Reset Value as of the last Policy Anniversary (or as of the Policy Date if within the first Policy Year), and deducted quarterly.

**The percentages applicable for determining the Guaranteed Amount under IPR 5.0 for policies with an application signed before February 10, 2025 are:** 

---

| | |
|:---|:---|
| **IPR GUARANTEE PERCENTAGE** | **IPR GUARANTEE PERCENTAGE** |
| 12 Year Holding Period | 110% |
| 13 Year Holding Period | 110% |
| 14 Year Holding Period | 110% |
| 15 Year Holding Period | 110% |
| 20 Year Holding Period | 150% |

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Appendix 4-2

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**Back Cover Page** 

The Statement of Additional Information (SAI) dated **May 1, 2026** contains more information about the policies and the Separate Accounts. The SAI has been filed with the SEC and is incorporated by reference into this Summary Prospectus. The SAI is posted on our website, https://dfinview.com/NewYorkLife/TAHD/premierplus-ii. For a free paper copy of the SAI, to request other information about the policies, and to make investor inquiries call us at (800) 598-2019 or write to us at NYLIAC Variable Product Service Center, Madison Square Station, P.O. Box 922, New York, NY 10159.

Reports and other information about the Separate Accounts are available on the SEC's website at https://www.sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

Separate Account III EDGAR contract identifier #C000154614

Separate Account IV EDGAR contract identifier #C000154616

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**Statement of Additional Information** 

**May 1, 2026**

**for** 

**New York Life Premier Plus Variable Annuity II** 

**From** 

**New York Life Insurance and Annuity Corporation**

**(a Delaware Corporation)** 

**51 Madison Avenue, New York, New York 10010** 

**Investing in** 

**NYLIAC Variable Annuity Separate Account-III**

**NYLIAC Variable Annuity Separate Account-IV** 

This Statement of Additional Information ("SAI") is not a prospectus. This SAI contains information that expands upon subjects discussed in the current New York Life Premier Plus Variable Annuity II Prospectus. You should read the SAI in conjunction with the current New York Life Premier Plus Variable Annuity II Prospectus dated May 1, 2026. You may obtain a copy of the Prospectus by calling New York Life Insurance and Annuity Corporation ("NYLIAC") at (800) 598-2019 or writing to NYLIAC at Madison Square Station, P.O. Box 922, New York, NY 10159. Terms used but not defined in this SAI have the same meaning as in the current New York Life Premier Plus Variable Annuity II Prospectus.

**[**Table of Contents**](#xx_621f9944-8980-4cd9-814b-542079900265_TOC_0)** 

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| | |
|:---|:---|
| **[General Information and History](#xx_3d5ca8c3-8a8f-47ad-924f-1f6ce13672fa_1)** | &nbsp;&nbsp; 2 |
| [New York Life Insurance and Annuity Corporation](#xx_3d5ca8c3-8a8f-47ad-924f-1f6ce13672fa_1) | &nbsp;&nbsp; 2 |
| [The Separate Account](#xx_3d5ca8c3-8a8f-47ad-924f-1f6ce13672fa_1) | &nbsp;&nbsp; 2 |
| **[The Policies](#xx_3d5ca8c3-8a8f-47ad-924f-1f6ce13672fa_1)** | &nbsp;&nbsp; 2 |
| [Future Income Purchases](#xx_3d5ca8c3-8a8f-47ad-924f-1f6ce13672fa_2) | &nbsp;&nbsp; 3 |
| **[Additional information about risks (Non-Principal Risks)](#xx_3d5ca8c3-8a8f-47ad-924f-1f6ce13672fa_3)** | &nbsp;&nbsp; 4 |
| **[Annuity Payments (The Income Phase)](#xx_3d5ca8c3-8a8f-47ad-924f-1f6ce13672fa_3)** | &nbsp;&nbsp; 4 |
| **[General Matters](#xx_3d5ca8c3-8a8f-47ad-924f-1f6ce13672fa_3)** | &nbsp;&nbsp; 4 |
| **[Federal Tax Matters](#xx_3d5ca8c3-8a8f-47ad-924f-1f6ce13672fa_4)** | &nbsp;&nbsp; 5 |
| [Taxation of New York Life Insurance and Annuity Corporation](#xx_3d5ca8c3-8a8f-47ad-924f-1f6ce13672fa_4) | &nbsp;&nbsp; 5 |
| [Tax Status of the Policies](#xx_3d5ca8c3-8a8f-47ad-924f-1f6ce13672fa_4) | &nbsp;&nbsp; 5 |
| **[Safekeeping Of Separate Account Assets](#xx_3d5ca8c3-8a8f-47ad-924f-1f6ce13672fa_5)** | &nbsp;&nbsp; 6 |
| **[State Regulation](#xx_3d5ca8c3-8a8f-47ad-924f-1f6ce13672fa_5)** | &nbsp;&nbsp; 6 |
| **[Records and Reports](#xx_3d5ca8c3-8a8f-47ad-924f-1f6ce13672fa_5)** | &nbsp;&nbsp; 6 |
| **[Financial Statements](#xx_3d5ca8c3-8a8f-47ad-924f-1f6ce13672fa_5)** | &nbsp;&nbsp; 6 |
| **[Other Information](#xx_3d5ca8c3-8a8f-47ad-924f-1f6ce13672fa_6)** | &nbsp;&nbsp; 7<br>|

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**General Information and History**

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***New York Life Insurance and Annuity Corporation*** 

New York Life Insurance and Annuity Corporation ("NYLIAC") is a stock life insurance company incorporated in Delaware in 1980. NYLIAC is licensed to sell life, accident and health insurance and annuities in the District of Columbia and all states. In addition to the policies described in this SAI, NYLIAC offers life insurance policies and other annuities.

NYLIAC is a wholly-owned subsidiary of New York Life Insurance Company, a mutual life insurance company doing business in New York since 1845. NYLIAC held assets of $223.5 billion at the end of 2025. New York Life Insurance Company has invested in NYLIAC, and will occasionally make additional contributions to NYLIAC in order to maintain capital and surplus in accordance with state requirements.

***The Separate Account*** 

Separate Account-III was established on November 30, 1994 and Separate Account-IV was established on June 10, 2003, pursuant to resolutions of the NYLIAC Board of Directors. The Separate Accounts are registered as unit investment trusts with the Securities and Exchange Commission under the Investment Company Act of 1940. This registration does not signify that the Securities and Exchange Commission supervises the management, or the investment practices or policies, of the Separate Accounts. Although the assets of the Separate Accounts belong to NYLIAC, these assets are held separately from our other assets. The Separate Accounts' assets are not chargeable with liabilities incurred in any of NYLIAC's other business operations (except to the extent that assets in the Separate Accounts exceed the reserves and other liabilities of that Separate Account). The income, capital gains and capital losses incurred on the assets of the Separate Accounts are credited to or charged against the assets of the Separate Accounts without regard to the income, capital gains or capital losses arising out of any other business NYLIAC may conduct. Therefore, the investment performance of the Separate Accounts is entirely independent of the investment performance of the Fixed Account, the DCA Advantage Account and any other separate account of NYLIAC.

**The Policies**

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The following provides additional information about the policies and supplements the description in the Prospectus.

*Valuation of Accumulation Units*

Accumulation Units are valued separately for each Investment Division of the Separate Account. The method used for valuing Accumulation Units in each Investment Division is the same. We arbitrarily set the value of each Accumulation Unit as of the date operations began for the Investment Division. Thereafter, the value of an Accumulation Unit of an Investment Division for any Business Day equals the value of an Accumulation Unit in that Investment Division as of the immediately preceding Business Day multiplied by the "Net Investment Factor" for that Investment Division for the current Business Day.

We determine the Net Investment Factor for Accumulation Value Based M&E Charge (Separate Account-III) policies for each Investment Division for any period from the close of the preceding Business Day to the close of the current Business Day (the "Valuation Period") by the following formula:

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| | | | |
|:---|:---|:---|:---|
| (a/b) – c | (a/b) – c | (a/b) – c | (a/b) – c |
| Where:<br> a | = | the result of: | the result of: |
|  |  | (1) | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined <br> at the end of the current Valuation Period, plus<br>|
|  |  | (2) | the per share amount of any dividend or capital gain distribution made by the Eligible Portfolio for <br> shares held in the Investment Division if the "ex-dividend" date occurs during the current Valuation <br> Period;<br>|
| b | = | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined as <br> of the end of the immediately preceding Valuation Period; and | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined as <br> of the end of the immediately preceding Valuation Period; and |
| c | = | the daily Mortality and Expense Risk and Administrative Costs charge, which is 1/365th\* of the annual <br> Mortality and Expense Risk and Administrative Costs Charge shown on the Policy Data Page. | the daily Mortality and Expense Risk and Administrative Costs charge, which is 1/365th\* of the annual <br> Mortality and Expense Risk and Administrative Costs Charge shown on the Policy Data Page. |
| \* |  | In a leap year, this calculation is based on 366 days. | In a leap year, this calculation is based on 366 days. |

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In each case, the Net Investment Factor for Premium Based M&E Charge (Separate Account-IV) policies is determined by the following formula:

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| | | | |
|:---|:---|:---|:---|
| (a/b) | (a/b) | (a/b) | (a/b) |
| Where:<br> a | = | the result of: | the result of: |
|  |  | (1) | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined <br> at the end of the current Valuation Period, plus<br>|
|  |  | (2) | the per share amount of any dividend or capital gain distribution made by the Eligible Portfolio for <br> shares held in the Investment Division if the "ex-dividend" date occurs during the current Valuation <br> Period;<br>|
| b | = | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined as <br> of the end of the immediately preceding Valuation Period. | the net asset value per share of the Eligible Portfolio shares held in the Investment Division determined as <br> of the end of the immediately preceding Valuation Period. |

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In each case, the Net Investment Factor may be greater or less than one. Therefore, the value of an Accumulation Unit in an Investment Division may increase or decrease from Valuation Period to Valuation Period.

***Future Income Purchases***

We will inform you of the following each time you submit a Future Income Purchase request:

&nbsp;&nbsp;&nbsp;&nbsp;1. That amounts used to purchase deferred income payments are not liquid.

&nbsp;&nbsp;&nbsp;&nbsp;2. That income payments are subject to the credit risk of NYLIAC's general account.

&nbsp;&nbsp;&nbsp;&nbsp;3. The amount of the Future Income Payment that you receive from NYLIAC may be higher or lower than the amount you might receive if you purchased a similar product offered by us or by another company. When making a Future Income Purchase, you should consider, in consultation with your agent, payment amounts for similar products, as well as your future income needs, contract terms, the claims paying ability of the insurance company and your tax situation.

Upon completion of the Future Income Purchase you will receive a confirmation statement which will inform you of the following:

&nbsp;&nbsp;&nbsp;&nbsp;1. The amount of future income purchased.

&nbsp;&nbsp;&nbsp;&nbsp;2. The lack of liquidity of amounts used to make the Future Income Purchase.

&nbsp;&nbsp;&nbsp;&nbsp;3. That you have the ability to consider other products (from us or another insurer) and cancel within a specific period of time.

Please note that the disclosures listed above will be included in the Future Income Purchase request form or the confirmation statement for each Future Income Purchase as soon as reasonably practicable after the date of this SAI.

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**Additional information about risks (Non-Principal Risks)**

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***Geopolitical Risks*** 

Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues like pandemics or epidemics, natural disasters, recessions, and other events, could have a serious negative impact on, among other things, the performance, liquidity and valuation of investments in the Portfolios you choose. In light of these developments, your premium and Accumulation Value allocation choices should be consistent with your personal investment objective and your risk tolerance. In addition, governmental authorities have imposed prohibitions on transactions in investments in certain foreign sectors—for example, prohibitions imposed by the U.S. government on investment in companies in the Communist Chinese defense and related material sectors and surveillance technology sectors. If Eligible Portfolios do not comply with such prohibitions, it is possible that we could not allow contract owners to make any new investment in those Portfolios (by premium allocation or transfer), and we could even require that contract owners move any Cash Value out of the affected Eligible Portfolio(s). You should consult each Fund's prospectus, statement of additional information, and annual and semi-annual reports for more information on these geopolitical risks and potential investment restrictions.

**Annuity Payments (The Income Phase)**

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Unless you instruct us otherwise, we will make equal annuity payments each month under the Life Income Payment Option during the lifetime of the Annuitant. Once payments begin, they do not change and are guaranteed for 10 years even if the Annuitant dies sooner. If the Annuitant dies before all guaranteed payments have been made, the rest will be made to the Beneficiary. We may require that the payee submit proof of the Annuitant's survivorship as a condition for future payments beyond the 10-year guaranteed payment period.

On the Annuity Commencement Date, we will determine the Accumulation Value of your policy and use that value to calculate the amount of each annuity payment. We determine each annuity payment by applying the Accumulation Value, less any premium taxes, to the annuity factors specified in the annuity table set forth in the policy. Those factors are based on a set amount per $1,000 of proceeds applied. The appropriate rate must be determined by the gender (except where, as in the case of certain Qualified Policies and other employer-sponsored retirement plans, such classification is not permitted), date of application and age of the Annuitant. The dollars applied are then divided by 1,000 and the result multiplied by the appropriate annuity factor from the table to compute the amount of each monthly annuity payment.

**General Matters**

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***Non-Participating.*** The policies are non-participating. Dividends are not paid.

***Misstatement of Age or Gender.*** If the Annuitant's stated age and/or gender in the policy are incorrect, NYLIAC will change the benefits payable to those which the premium payments would have purchased for the correct age and gender. Gender is not a factor when annuity benefits are based on unisex annuity payment rate tables. (See "Income Payments—Election of Income Payment Options" in the Prospectus.) If we made payments based on incorrect age or gender, we will increase or reduce a later payment or payments to adjust for the error. Any adjustment will include interest, at 1.0% per year, from the date of the wrong payment to the date the adjustment is made.

***Assignments.*** If permitted by the plan or by law for the plan indicated in the application for the policy, you may assign your interest in a Non-Qualified Policy or any interest in it prior to the Annuity Commencement Date and during the Owner's lifetime. In order to effect an assignment of all or any part of your interest in a Non-Qualified Policy prior to the Annuity Commencement Date and during the Owner's lifetime, you must send a duly executed instrument of assignment to the NYLIAC Variable Products Service Center at one of the addresses listed in the "CONTACTING NYLIAC" section of the Prospectus. NYLIAC will not be deemed to know of an assignment unless it receives a copy of a duly executed instrument evidencing such assignment in Good Order. Further, NYLIAC assumes no responsibility for the validity of any assignment. (See "Federal Tax Matters—Taxation of Annuities in General" of the Prospectus.)

***Modification.*** NYLIAC may not modify the policy without your consent except to make the policy meet the requirements of the Investment Company Act of 1940, or to make the policy comply with any changes in the Code or as required by the Code in order to continue treatment of the policy as an annuity, or by any other applicable law.

***Incontestability.*** We rely on statements made in the application or a Policy Request. They are representations, not warranties. We will not contest the policy after it has been in force during the lifetime of the Annuitant for two years from the Policy Date.

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**Federal Tax Matters**

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***Taxation of New York Life Insurance and Annuity Corporation***

NYLIAC is taxed as a life insurance company. Because the Separate Account is not an entity separate from NYLIAC, and its operations form a part of NYLIAC, it will not be taxed separately as a "regulated investment company" under Subchapter M of the Code. 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. Investment income and realized net capital gains on the assets of the Separate Account are reinvested and are taken into account in determining the Accumulation Value. As a result, such investment income and realized net capital gains are automatically retained as part of the reserves under the policy. 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.

***Tax Status of the Policies***

Section 817(h) of the Code requires that the investments of the Separate Account must be "adequately diversified" in accordance with Treasury regulations in order for the policies to qualify as annuity contracts under Section 72 of the Code. The Separate Account intends to comply with the diversification requirements prescribed by the Treasury under Treasury Regulation Section 1.817-5.

To comply with regulations under Section 817(h) of the Code, the Separate Account is required to diversify its investments, so that on the last day of each quarter of a calendar year, no more than 55% of the value of its assets is represented by any one investment, no more than 70% is represented by any two investments, no more than 80% is represented by any three investments, and no more than 90% is represented by any four investments. For this purpose, securities of a single issuer are treated as one investment and each U.S. Government agency or instrumentality is treated as a separate issuer. Any security issued, guaranteed, or insured (to the extent so guaranteed or insured) by the U.S. Government or an agency or instrumentality of the U.S. Government is treated as a security issued by the U.S. Government or its agency or instrumentality, whichever is applicable.

Although the Treasury Department has issued regulations on the diversification requirements, such regulations do not provide guidance concerning the extent to which policyowners may direct their investments to particular subaccounts of a separate account, or the permitted number of such subaccounts. It is unclear whether additional guidance in this regard will be issued in the future. It is possible that if such guidance is issued, the policy may need to be modified to comply with such additional guidance. For these reasons, NYLIAC reserves the right to modify the policy as necessary to attempt to prevent the policyowner from being considered the owner of the assets of the Separate Account or otherwise to qualify the policy for favorable tax treatment.

The Code also requires that non-qualified annuity contracts contain specific provisions for distribution of the policy proceeds upon the death of any policyowner. In order to be treated as an annuity contract for federal income tax purposes, the Code requires that such policies provide that (a) if any policyowner dies on or after the Annuity Commencement Date and before the entire interest in the policy has been distributed, the remaining portion must be distributed at least as rapidly as under the method in effect on the policyowner's death; and (b) if any policyowner dies before the Annuity Commencement Date, the entire interest in the policy must generally be distributed within 5 years after the policyowner's date of death. For policies owned by a grantor trust, these distribution requirements apply at the death of any Annuitant. These requirements will be considered satisfied if the entire interest of the policy is used to purchase an immediate annuity under which payments will begin within one year of the policyowner's death and will be made for the life of the Beneficiary or for a period not extending beyond the life expectancy of the Beneficiary. If the Beneficiary is the policyowner's surviving spouse (as defined under Federal law), the Policy may be continued with the surviving spouse as the new policyowner. If the policyowner is not a natural person, these "death of Owner" rules apply when the primary Annuitant dies or is changed. Non-Qualified Policies contain provisions intended to comply with these requirements of the Code. No regulations interpreting these requirements of the Code have yet been issued and thus no assurance can be given that the provisions contained in these policies satisfy all such Code requirements. The provisions contained in these policies will be reviewed and modified if necessary to assure that they comply with the Code requirements when clarified by regulation or otherwise.

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Withholding of federal income taxes on the taxable portion of all distributions may be required unless the recipient elects not to have any such amounts withheld and properly notifies NYLIAC of that election. Different rules may apply to United States citizens or expatriates living abroad. In addition, some states have enacted legislation requiring withholding.

Even if a recipient elects no withholding, special rules may require NYLIAC to disregard the recipient's election if the recipient fails to supply NYLIAC with a "TIN" or taxpayer identification number (social security number for individuals) or if the Internal Revenue Service notifies NYLIAC that the TIN provided by the recipient is incorrect.

Under the Foreign Account Tax Compliance Act ("FATCA"), as reflected in Sections 1471 through 1474 of the IRC, 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 percent rate on certain payments beginning July 1, 2014.

**Safekeeping Of Separate Account Assets**

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NYLIAC holds title to assets of the Separate Accounts. The assets are kept physically segregated and held separate and apart from NYLIAC's general corporate assets. Records are maintained of all purchases and redemptions of Portfolio shares held by each of the Investment Divisions.

**State Regulation**

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NYLIAC is a stock life insurance company organized under the laws of Delaware, and is subject to regulation by the Delaware State Insurance Department. We file an annual statement with the Delaware Commissioner of Insurance on or before March 1 of each year covering the operations and reporting on the financial condition of NYLIAC as of December 31 of the preceding calendar year. Periodically, the Delaware Commissioner of Insurance examines the financial condition of NYLIAC, including the liabilities and reserves of the Separate Account.

In addition, NYLIAC is subject to the insurance laws and regulations of all the states where it is licensed to operate. The availability of certain policy rights and provisions depends on state approval and/or filing and review processes. Where required by state law or regulation, the policies will be modified accordingly.

**Records and Reports**

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NYLIAC maintains all records and accounts relating to the Separate Account. If you believe a transaction has been processed incorrectly, it is your responsibility to contact us in writing and provide us with all relevant details. You must provide us with the nature of the error, the date of the error and any other relevant details. It is important that you review your confirmation and quarterly statements carefully and promptly report any errors and discrepancies to us, preferably, within fifteen (15) days of the date of the statement in question.

It is important that you inform NYLIAC of an address change so that you can receive these policy statements (See the "CONTACTING NYLIAC" section of the Prospectus). In the event your statement is returned from the U.S. Postal Service as undeliverable, we reserve the right to suspend mailing future correspondence and also suspend current transaction processing until an accurate address is obtained. Additionally, no new service requests can be processed until a valid current address is provided.

**Financial Statements**

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The statutory financial statements of NYLIAC as of December 31, 2025 and 2024, and for each of the three years in the period ended December 31, 2025 incorporated in this SAI by reference to the report on Form N-VPFS dated April 7, 2026 have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting. The financial statements of each of the investment divisions of the Separate Account as of December 31, 2025 and for each of the periods indicated in the Financial Statements incorporated in this SAI by reference to the report on Form N-VPFS dated April 7, 2026 have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

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<u>For Policies investing in NYLIAC Variable Annuity Separate Account—III:</u> 

[<u>Audited Statutory Financial Statements of NYLIAC as of December 31,</u> <u>2025 and</u> <u>2024 and</u> <u>for each of the three years</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)[<u>in the period ended December 31,</u> <u>2025</u> <u>— previously filed on Form N-VPFS for NYLIAC Variable Annuity Separate</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)[<u>Account—III (File No.</u> <u>811-0890</u><u>4), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)

[<u>Financial Statements of the Separate Account as of December 31,</u> <u>2025</u> <u>and for each of the periods as indicated in</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)[<u>those Financial Statements — previously filed on Form N-VPFS for NYLIAC Variable Annuity Separate Account—III (File</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)[<u>No.</u> <u>811-0890</u><u>4), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312526145193/d58087dnvpfs.htm)

<u>For Policies investing in NYLIAC Variable Annuity Separate Account—IV:</u> 

[<u>Audited Statutory Financial Statements of NYLIAC as of December 31,</u> <u>2025 and</u> <u>2024 and</u> <u>for each of the three years</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)[<u>in the period ended December 31,</u> <u>2025</u> <u>— previously filed on Form N-VPFS for NYLIAC Variable Annuity Separate</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)[<u>Account—IV (File No.</u> <u>811-2139</u><u>7), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)

[<u>Financial Statements of the Separate Account as of December 31,</u> <u>2025</u> <u>and for each of the periods as indicated in</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)[<u>those Financial Statements — previously filed on Form N-VPFS for NYLIAC Variable Annuity Separate Account—IV (File</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)[<u>No.</u> <u>811-2139</u><u>7), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1209501/000119312526145194/d32848dnvpfs.htm)

**Other Information**

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NYLIAC filed a Registration Statement with the Securities and Exchange Commission, under the Securities Act of 1933 as amended, with respect to the policies discussed in the Prospectus and this SAI. We have not included all of the information set forth in the registration statement, amendments and exhibits to the registration statement in the Prospectus and this SAI. For more information, you should refer to the instruments filed with the Securities and Exchange Commission. The omitted information may be obtained at the principal offices of the Securities and Exchange Commission in Washington, D.C., upon payment of prescribed fees, or through the Commission's website at www.sec.gov.

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PART C. OTHER INFORMATION

ITEM 27. EXHIBITS

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| | |
|:---|:---|
| (a) | Board of Directors Resolution. |
| (a)(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Resolution of the Board of Directors of New York Life Insurance and Annuity Corporation ("NYLIAC")</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w1.txt)<br> [<u>authorizing the establishment of the Separate Account — Previously filed in accordance with Regulation S-T,</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w1.txt)<br> [<u>17 CFR 232.102(e) as Exhibit (1) to the Initial Registration Statement on Form N-4 for NYLIAC Variable</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w1.txt)<br> [<u>Annuity Separate Account — IV (File No.</u> <u>333-1068</u><u>06), filed 7/3/03 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w1.txt)<br>|
| (b) | Custodian Agreements. Not applicable. |
| (c) | Underwriting Contracts. |
| (c)(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Distribution Agreement between NYLIFE Securities Inc. and NYLIAC - Previously filed as Exhibit (3)(a) to</u>](https://www.sec.gov/Archives/edgar/data/906982/0000950123-97-003488.txt)<br> [<u>Post- Effective Amendment No. 1 to the registration statement on Form S-6 for NYLIAC MFA Separate</u>](https://www.sec.gov/Archives/edgar/data/906982/0000950123-97-003488.txt)<br> [<u>Account-I (File No. 2-86084), re-filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](https://www.sec.gov/Archives/edgar/data/906982/0000950123-97-003488.txt)<br> [<u>Exhibit (3)(a)(1) to Post-Effective Amendment No. 4 to the registration statement on Form S-6 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/906982/0000950123-97-003488.txt)<br> [<u>Variable Universal Life Separate Account-I (File No.</u> <u>033-6441</u><u>0), filed 4/25/97 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/906982/0000950123-97-003488.txt)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/906982/0000950123-97-003488.txt)<br>|
| (c)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Distribution Agreement between NYLIFE Distributors, Inc. and NYLIAC – Previously filed in accordance with</u>](https://www.sec.gov/Archives/edgar/data/934298/0000950130-96-001281.txt)<br> [<u>Regulation S-T, 17 CFR 232.102(e) as Exhibit 3(b) to Post-Effective Amendment No. 1 to the registration</u>](https://www.sec.gov/Archives/edgar/data/934298/0000950130-96-001281.txt)<br> [<u>statement on Form N-4 for NYLIAC Variable Annuity Separate Account-III (File No.</u> <u>033-8738</u><u>2), filed on</u>](https://www.sec.gov/Archives/edgar/data/934298/0000950130-96-001281.txt)<br> [<u>4/18/96 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/0000950130-96-001281.txt)<br>|
| (c)(3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Distribution and Underwriting Agreement, dated April 27, 2006, between New York Life Insurance and</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99wcw3.txt)<br> [<u>Annuity Corporation and NYLIFE Distributors LLC - Previously filed in accordance with Regulation S-T, 17</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99wcw3.txt)<br> [<u>CFR 232.102(e) as Exhibit (c)(3) to Post-Effective Amendment No. 16 on Form N-6 for NYLIAC Corporate</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99wcw3.txt)<br> [<u>Sponsored Variable Universal Life Separate Account-I (File No.</u> <u>333-4830</u><u>0), filed 8/15/06 and incorporated</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99wcw3.txt)<br> [<u>herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99wcw3.txt)<br>|
| (c)(4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amendment to Distribution and Underwriting Agreement between New York Life Insurance and Annuity</u>](https://www.sec.gov/Archives/edgar/data/726509/000119312515129356/d862936dex993g1.htm)<br> [<u>Corporation and NYLIFE Distributors LLC, effective as of March 6, 2015 - Previously filed in accordance with</u>](https://www.sec.gov/Archives/edgar/data/726509/000119312515129356/d862936dex993g1.htm)<br> [<u>Regulation S-T, 17 CFR 232.102(e) as Exhibit (3)(g)(1) to Post-Effective Amendment No. 38 to the</u>](https://www.sec.gov/Archives/edgar/data/726509/000119312515129356/d862936dex993g1.htm)<br> [<u>registration statement on Form N-4 for NYLIAC MFA Separate Account-I (File No.</u> <u>002-8608</u><u>3), filed 4/14/15</u>](https://www.sec.gov/Archives/edgar/data/726509/000119312515129356/d862936dex993g1.htm)<br> [<u>and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/726509/000119312515129356/d862936dex993g1.htm)<br>|

---

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

---

| | |
|:---|:---|
| (d) | Contracts. |
| (d)(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Specimen Policy for New York Life Premier Plus (formerly Extra Credit) Variable Annuity (No. 208-192) -</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012308017238/y72876exv99w4wa.txt)<br> [<u>Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (4)(a) to the registration</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012308017238/y72876exv99w4wa.txt)<br> [<u>statement on Form N-4 for NYLIAC Variable Annuity Separate Account – III (File No.</u> <u>333-1560</u><u>18), filed</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012308017238/y72876exv99w4wa.txt)<br> [<u>12/9/08 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012308017238/y72876exv99w4wa.txt)<br>|
| (d)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Specimen Policy for New York Life Premier (formerly Smart Value) Variable Annuity (No. 208-191) —</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012308017238/y72876exv99w4wb.txt)<br> [<u>Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (4)(b) to the registration</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012308017238/y72876exv99w4wb.txt)<br> [<u>statement on Form N-4 for NYLIAC Variable Annuity Separate Account - III (File No.</u> <u>333-1560</u><u>18), filed</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012308017238/y72876exv99w4wb.txt)<br> [<u>12/9/08 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012308017238/y72876exv99w4wb.txt)<br>|
| (d)(3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Enhanced Spousal Continuance Rider — Previously filed in accordance with Regulation S-T, 17 CFR</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012301504316/y51006apex99-4_b.txt)<br> [<u>232.102(e) as Exhibit (4)(b) to Post-Effective Amendment No. 4 to the registration statement on Form N-4 for</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012301504316/y51006apex99-4_b.txt)<br> [<u>NYLIAC Variable Annuity Separate Account - III (File No.</u> <u>333-8053</u><u>5), filed 7/13/01 and incorporated herein</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012301504316/y51006apex99-4_b.txt)<br> [<u>by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012301504316/y51006apex99-4_b.txt)<br>|
| (d)(4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Annual Death Benefit Reset Rider — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e)</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w4wc.txt)<br> [<u>as Exhibit (4)(c) to the Initial Registration Statement on Form N-4 for NYLIAC Variable Annuity Separate</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w4wc.txt)<br> [<u>Account - IV (File No.</u> <u>333-1068</u><u>06), filed 7/3/03 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w4wc.txt)<br>|
| (d)(5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Enhanced Beneficiary Benefit Rider — Previously filed in accordance with Regulation S-T, 17 CFR</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w4wd.txt)<br> [<u>232.102(e) as Exhibit (4)(d) to the Initial Registration Statement on Form N-4 for NYLIAC Variable Annuity</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w4wd.txt)<br> [<u>Separate Account - IV (File No.</u> <u>333-1068</u><u>06), filed 7/3/03 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w4wd.txt)<br>|
| (d)(6) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Investment Protection Plan Rider — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e)</u>](https://www.sec.gov/Archives/edgar/data/934298/0000950123-99-001336.txt)<br> [<u>as Exhibit (4)(b) to Post-Effective Amendment No. 6 to the registration statement on Form N-4 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/934298/0000950123-99-001336.txt)<br> [<u>Variable Annuity Separate Account - III (File No.</u> <u>033-8738</u><u>2), filed 2/18/99 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/934298/0000950123-99-001336.txt)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/0000950123-99-001336.txt)<br>|

---

------

---

| | |
|:---|:---|
| (d)(7) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Unemployment Benefit Rider — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w4wf.txt)<br> [<u>Exhibit (4)(f) to the Initial Registration Statement on Form N-4 for NYLIAC Variable Annuity Separate</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w4wf.txt)<br> [<u>Account - IV (File No.</u> <u>333-1068</u><u>06), filed 7/3/03 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w4wf.txt)<br>|
| (d)(8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>UPromise Account Rider — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w4wg.txt)<br> [<u>Exhibit (4)(g) to the Initial Registration Statement on Form N-4 for NYLIAC Variable Annuity Separate</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w4wg.txt)<br> [<u>Account - IV (File No.</u> <u>333-1068</u><u>06), filed 7/3/03 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w4wg.txt)<br>|
| (d)(9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Living Needs Benefit Rider — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w4wh.txt)<br> [<u>Exhibit (4)(h) to the Initial Registration Statement on Form N-4 for NYLIAC Variable Annuity Separate</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w4wh.txt)<br> [<u>Account - IV (File No.</u> <u>333-1068</u><u>06), filed 7/3/03 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012303007903/y63680exv99w4wh.txt)<br>|
| (d)(10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Breakpoint Credit Rider — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012308017238/y72876exv99w4wk.txt)<br> [<u>Exhibit (4)(k) to the registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account – III</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012308017238/y72876exv99w4wk.txt)<br> [<u>(File No.</u> <u>333-1560</u><u>18), filed 12/9/08 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012308017238/y72876exv99w4wk.txt)<br>|
| (d)(11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Investment Protection Plan Rider — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e)</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012310034893/y81413exv99w4wl.txt)<br> [<u>as Exhibit (4)(l) to Post-Effective Amendment No. 2 to the registration statement on Form N-4 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012310034893/y81413exv99w4wl.txt)<br> [<u>Variable Annuity Separate Account - III (File No.</u> <u>333-1560</u><u>18), filed 4/14/10 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012310034893/y81413exv99w4wl.txt)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012310034893/y81413exv99w4wl.txt)<br>|
| (d)(12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Living Needs Benefit/Unemployment Rider — Previously filed in accordance with Regulation S-T, 17 CFR</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012310034821/e81418exv99w4wc.txt)<br> [<u>232.102(e) as Exhibit (4)(c) to Post-Effective Amendment No. 17 to the registration statement on Form N-4</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012310034821/e81418exv99w4wc.txt)<br> [<u>for NYLIAC Variable Annuity Separate Account - III (File No.</u> <u>333-8053</u><u>5), filed 4/14/10 and incorporated</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012310034821/e81418exv99w4wc.txt)<br> [<u>herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012310034821/e81418exv99w4wc.txt)<br>|
| (d)(13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Investment Protection Plan II Rider — Previously filed in accordance with Regulation S-T, 17 CFR</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312512234963/d281733dex994n.htm)<br> [<u>232.102(e) as Exhibit (4)(n) to Post-Effective Amendment No. 6 to the registration statement on Form N-4 for</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312512234963/d281733dex994n.htm)<br> [<u>NYLIAC Variable Annuity Separate Account - III (File No.</u> <u>333-1560</u><u>18), filed 5/15/12 and incorporated herein</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312512234963/d281733dex994n.htm)<br> [<u>by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312512234963/d281733dex994n.htm)<br>|
| (d)(14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Guaranteed Investment Protection Rider — Previously filed in accordance with Regulation S-T, 17 CFR</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312513051884/d468791dex994o.htm)<br> [<u>232.102(e) as Exhibit (4)(o) to Post-Effective Amendment No. 7 to the registration statement on Form N-4 for</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312513051884/d468791dex994o.htm)<br> [<u>NYLIAC Variable Annuity Separate Account - III (File No.</u> <u>333-1560</u><u>18), filed 2/12/13 and incorporated herein</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312513051884/d468791dex994o.htm)<br> [<u>by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312513051884/d468791dex994o.htm)<br>|
| (d)(15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Guaranteed Investment Protection Rider 2.0 — Previously filed in accordance with Regulation S-T, 17 CFR</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312514054791/d630491dex994p.htm)<br> [<u>232.102(e) as Exhibit (4)(p) to Post-Effective Amendment No. 10 to the registration statement on Form N-4</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312514054791/d630491dex994p.htm)<br> [<u>for NYLIAC Variable Annuity Separate Account - III (File No.</u> <u>333-1560</u><u>18), filed 2/14/14 and incorporated</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312514054791/d630491dex994p.htm)<br> [<u>herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312514054791/d630491dex994p.htm)<br>|
| (d)(16) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Specimen Policy for New York Life Premier Variable Annuity II — Previously filed in accordance with</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994q.htm)<br> [<u>Regulation S-T, 17 CFR 232.102(e) as Exhibit (4)(q) to Post-Effective Amendment No. 12 to this registration</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994q.htm)<br> [<u>statement on Form N-4 for NYLIAC Variable Annuity Separate Account - III (File No.</u> <u>333-1560</u><u>18), filed on</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994q.htm)<br> [<u>2/6/15 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994q.htm)<br>|
| (d)(17) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Specimen Policy for New York Life Premier Plus Variable Annuity II — Previously filed in accordance with</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994r.htm)<br> [<u>Regulation S-T, 17 CFR 232.102(e) as Exhibit (4)(r) to Post-Effective Amendment No. 12 to this registration</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994r.htm)<br> [<u>statement on Form N-4 for NYLIAC Variable Annuity Separate Account - III (File No.</u> <u>333-1560</u><u>18), filed on</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994r.htm)<br> [<u>2/6/15 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994r.htm)<br>|
| (d)(18) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Investment Preservation Rider — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994s.htm)<br> [<u>Exhibit (4)(s) to Post-Effective Amendment No. 12 to this registration statement on Form N-4 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994s.htm)<br> [<u>Variable Annuity Separate Account - III (File No.</u> <u>333-1560</u><u>18), filed on 2/6/15 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994s.htm)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994s.htm)<br>|
| (d)(19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Annual Death Benefit Reset Rider — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e)</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994t.htm)<br> [<u>as Exhibit (4)(t) to Post-Effective Amendment No. 12 to this registration statement on Form N-4 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994t.htm)<br> [<u>Variable Annuity Separate Account - III (File No.</u> <u>333-1560</u><u>18), filed on 2/6/15 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994t.htm)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994t.htm)<br>|
| (d)(20) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Future Income Rider — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994u.htm)<br> [<u>Exhibit (4)(u) to Post-Effective Amendment No. 12 to this registration statement on Form N-4 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994u.htm)<br> [<u>Variable Annuity Separate Account - III (File No.</u> <u>333-1560</u><u>18), filed on 2/6/15 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994u.htm)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex994u.htm)<br>|

---

------

---

| | |
|:---|:---|
| (d)(21) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Investment Preservation Rider 2.0 — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e)</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312517021501/d254601dex994v.htm)<br> [<u>as Exhibit (4)(v) to Post-Effective Amendment No. 18 to this registration statement on Form N-4 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312517021501/d254601dex994v.htm)<br> [<u>Variable Annuity Separate Account - III (File No.</u> <u>333-1560</u><u>18), filed on 1/27/17 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312517021501/d254601dex994v.htm)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312517021501/d254601dex994v.htm)<br>|
| (d)(22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Investment Preservation Rider 3.0 — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e)</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312518030615/d516093dex994w.htm)<br> [<u>as Exhibit (4)(w) to Post-Effective Amendment No. 22 to this registration statement on Form N-4 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312518030615/d516093dex994w.htm)<br> [<u>Variable Annuity Separate Account - III (File No.</u> <u>333-1560</u><u>18), filed on 2/2/18 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312518030615/d516093dex994w.htm)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312518030615/d516093dex994w.htm)<br>|
| (d)(23) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Investment Preservation Rider 4.0 — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e)</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312519033936/d665824dex994x.htm)<br> [<u>as Exhibit (4)(x) to Post-Effective Amendment No. 25 to this registration statement on Form N-4 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312519033936/d665824dex994x.htm)<br> [<u>Variable Annuity Separate Account - III (File No.</u> <u>333-1560</u><u>18), filed on 2/11/19 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312519033936/d665824dex994x.htm)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312519033936/d665824dex994x.htm)<br>|
| (d)(24) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Waiver of Surrender Charges for Home Health Care Qualifying Event Rider – Previously filed in accordance</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312522099991/d260936dex99d24.htm)<br> [<u>with Regulation S-T, 17 CFR 232.102(e) as Exhibit (d)(24) to Post-Effective Amendment No. 33 to this</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312522099991/d260936dex99d24.htm)<br> [<u>registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account – III (File No.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312522099991/d260936dex99d24.htm)<br> [<u>333-1560</u><u>18), filed on 4/8/22 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312522099991/d260936dex99d24.htm)<br>|
| (d)(25) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Investment Preservation Rider 5.0 — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e)</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312519033936/d665824dex994x.htm)<br> [<u>as Exhibit (4)(x) to Post-Effective Amendment No. 25 to this registration statement on Form N-4 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312519033936/d665824dex994x.htm)<br> [<u>Variable Annuity Separate Account - III (File No.</u> <u>333-1560</u><u>18), filed on 2/11/19 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312519033936/d665824dex994x.htm)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312519033936/d665824dex994x.htm)<br>|
| (d)(26) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Updated Investment Preservation Rider 5.0 — Previously filed in accordance with Regulation S-T, 17 CFR</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312523213168/d489506dex99d26.htm)<br> [<u>232.102(e) as Exhibit (d)(26) to Post-Effective Amendment No. 37 to this registration statement on Form N-4</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312523213168/d489506dex99d26.htm)<br> [<u>for NYLIAC Variable Annuity Separate Account – III (File No.</u> <u>333-1560</u><u>18), filed on 8/15/23 and incorporated</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312523213168/d489506dex99d26.htm)<br> [<u>herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312523213168/d489506dex99d26.htm)<br>|
| (e) | Applications. |
| (e)(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Application for policies for New York Life Premier Plus (formerly Extra Credit) and New York Life Premier</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012308017238/y72876exv99w5wa.txt)<br> [<u>(formerly Smart Value) Variable Annuities — Previously filed in accordance with Regulation S-T, 17 CFR</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012308017238/y72876exv99w5wa.txt)<br> [<u>232.102(e) as Exhibit (5)(a) to the registration statement on Form N-4 for NYLIAC Variable Annuity Separate</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012308017238/y72876exv99w5wa.txt)<br> [<u>Account - III (File No.</u> <u>333-1560</u><u>18), filed 12/9/08 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012308017238/y72876exv99w5wa.txt)<br>|
| (e)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Application for policies for Individual Flexible Premium Deferred Variable Annuity — Previously filed in</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex995b.htm)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (5)(b) to Post-Effective Amendment No. 12 to</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex995b.htm)<br> [<u>this registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account - III (File No.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex995b.htm)<br> [<u>333-1560</u><u>18), filed on 2/6/15 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312515037088/d845983dex995b.htm)<br>|
| (f) | Insurance Company's Certificate of Incorporation and By-Laws. |
| (f)(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Certificate of Incorporation of NYLIAC - Previously filed as Exhibit (6)(a) to the registration statement on</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br> [<u>Form S-6 for NYLIAC MFA Separate Account – I (File No. 02-86083), re-filed in accordance with Regulation</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br> [<u>S-T, 17 CFR 232.102(e) as Exhibit (6)(a) to the initial registration statement on Form S-6 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br> [<u>Corporate Sponsored Variable Universal Life Separate Account-I (File No.</u> <u>333-0761</u><u>7), filed 7/3/96 and</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br> [<u>incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br>|
| (f)(1)(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amended and Restated Certificate of Incorporation of NYLIAC (executed May 1, 2009) – Previously filed in</u>](https://www.sec.gov/Archives/edgar/data/726509/000119312513152755/d481981dex996a1.htm)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (6)(a)(1) to Post-Effective Amendment No. 36</u>](https://www.sec.gov/Archives/edgar/data/726509/000119312513152755/d481981dex996a1.htm)<br> [<u>to the registration statement on Form N-4 for the NYLIAC MFA Separate Account – I (File No. 02-86083),</u>](https://www.sec.gov/Archives/edgar/data/726509/000119312513152755/d481981dex996a1.htm)<br> [<u>filed 4/12/13 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/726509/000119312513152755/d481981dex996a1.htm)<br>|
| (f)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>By-Laws of NYLIAC - Previously filed as Exhibit (6)(b) to the registration statement on Form S-6 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br> [<u>MFA Separate Account-I (File No. 02-86083), re-filed in accordance with Regulation S-T, 17 CFR 232.102(e)</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br> [<u>as Exhibit (6)(b) to the initial registration statement on Form S-6 for NYLIAC Corporate Sponsored Variable</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br> [<u>Universal Life Separate Account-I (File No.</u> <u>333-0761</u><u>7), filed 7/3/96 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br>|
| (f)(2)(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amendments to By-Laws of NYLIAC - Previously filed in accordance with Regulation S-T, 17 CFR</u>](https://www.sec.gov/Archives/edgar/data/906982/0000950123-98-003398.txt)<br> [<u>232.102(e) as Exhibit (6)(b)(2) to Pre-Effective Amendment No. 1 to the registration statement on Form S-6</u>](https://www.sec.gov/Archives/edgar/data/906982/0000950123-98-003398.txt)<br> [<u>for NYLIAC Variable Universal Life Separate Account-I (File No.</u> <u>333-3915</u><u>7), filed 4/3/98 and incorporated</u>](https://www.sec.gov/Archives/edgar/data/906982/0000950123-98-003398.txt)<br> [<u>herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/906982/0000950123-98-003398.txt)<br>|

---

------

---

| | |
|:---|:---|
| (f)(2)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amended and Restated By-Laws of NYLIAC (effective May 1, 2009) – Previously filed in accordance with</u>](https://www.sec.gov/Archives/edgar/data/726509/000119312513152755/d481981dex996b3.htm)<br> [<u>Regulation S-T, 17 CFR 232.102(e) as Exhibit (6)(b)(3) to Post-Effective Amendment No. 36 to the</u>](https://www.sec.gov/Archives/edgar/data/726509/000119312513152755/d481981dex996b3.htm)<br> [<u>registration statement on Form N-4 for the NYLIAC MFA Separate Account – I (File No. 02-86083), filed</u>](https://www.sec.gov/Archives/edgar/data/726509/000119312513152755/d481981dex996b3.htm)<br> [<u>4/12/13 and incorporated herein by reference</u>](https://www.sec.gov/Archives/edgar/data/726509/000119312513152755/d481981dex996b3.htm).<br>|
| (g) | Reinsurance Contracts. Not applicable. |
| (h) | Participation Agreements. |
| (h)(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Stock Sale Agreement between NYLIAC and MainStay VP Series Fund, Inc. (formerly New York Life MFA</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Series Fund, Inc.) - Previously filed as Exhibit (8)(a) to Pre-Effective Amendment No. 1 to the registration</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>statement on Form N-1 for New York Life MFA Series Fund, Inc. (File No. 02-86082), re-filed in accordance</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>with Regulation S-T, 17 CFR 232.102(e) as Exhibit (9)(a) to Pre-Effective Amendment No. 1 to the</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>registration statement on Form S-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Account-I (File No.</u> <u>333-0761</u><u>7), filed 1/2/97 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br>|
| (h)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement between Janus Aspen Series and NYLIAC - Previously filed in accordance with</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Regulation S-T, 17 CFR 232.102(e) as Exhibit (9)(b)(3) to Pre-Effective Amendment No. 1 to the registration</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>statement on Form S-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate Account-I (File</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>No.</u> <u>333-0761</u><u>7), filed 1/2/97 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br>|
| (h)(3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among Morgan Stanley Universal Funds, Inc., Morgan Stanley Asset Management</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Inc. and NYLIAC - Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (9)(b)(4)</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>to Pre-Effective Amendment No. 1 to the registration statement on Form S-6 for NYLIAC Corporate</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Sponsored Variable Universal Life Separate Account-I (File No.</u> <u>333-0761</u><u>7), filed 1/2/97 and incorporated</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br>|
| (h)(4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amended and Restated Participation Agreement among Variable Insurance Products Funds, Fidelity</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012310034440/y82768exv99w8wf.txt)<br> [<u>Distributors Corporation and NYLIAC, as amended, dated November 23, 2009 - Previously filed in</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012310034440/y82768exv99w8wf.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(f) to Post-Effective Amendment No. 24 to</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012310034440/y82768exv99w8wf.txt)<br> [<u>the registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account-I (File No.</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012310034440/y82768exv99w8wf.txt)<br> [<u>033-5334</u><u>2), filed 4/13/10 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012310034440/y82768exv99w8wf.txt)<br>|
| (h)(5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among MFS Variable Insurance Trust, Massachusetts Financial Services Company</u>](https://www.sec.gov/Archives/edgar/data/893167/0000950123-98-003891.txt)<br> [<u>and NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(j) to</u>](https://www.sec.gov/Archives/edgar/data/893167/0000950123-98-003891.txt)<br> [<u>Post-Effective Amendment No. 7 to the registration statement on Form N-4 for NYLIAC Variable Annuity</u>](https://www.sec.gov/Archives/edgar/data/893167/0000950123-98-003891.txt)<br> [<u>Separate Account - I (File No.</u> <u>033-5334</u><u>2), filed 4/16/98 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/0000950123-98-003891.txt)<br>|
| (h)(6) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among Dreyfus Investment Portfolios, The Dreyfus Corporation, Dreyfus Service</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_r.txt)<br> [<u>Corporation and NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_r.txt)<br> [<u>Exhibit (9)(r) to Pre-Effective Amendment No. 1 to the registration statement on Form S-6 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_r.txt)<br> [<u>Variable Universal Life Separate Account - I (File No.</u> <u>333-5721</u><u>0), filed 6/4/01 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_r.txt)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_r.txt)<br>|
| (h)(7) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Fund Participation Agreement (Service Shares) between Janus Aspen Series and NYLIAC dated 4/30/03 —</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wt.txt)<br> [<u>Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(t) to Post-Effective</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wt.txt)<br> [<u>Amendment No. 19 to the registration statement on Form N-4 for NYLIAC Variable Annuity Separate</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wt.txt)<br> [<u>Account - III (File No.</u> <u>033-8738</u><u>2), filed 5/14/03 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wt.txt)<br>|
| (h)(8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement by and among MFS Variable Insurance Trust, Massachusetts Financial Services</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wu.txt)<br> [<u>Company and NYLIAC dated 4/30/03 — Previously filed in accordance with Regulation S-T, 17 CFR</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wu.txt)<br> [<u>232.102(e) as Exhibit (8)(u) to Post-Effective Amendment No. 19 to the registration statement on Form N-4</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wu.txt)<br> [<u>for NYLIAC Variable Annuity Separate Account - III (File No.</u> <u>033-8738</u><u>2), filed 5/14/03 and incorporated</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wu.txt)<br> [<u>herein by reference</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wu.txt).<br>|
| (h)(9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among Neuberger Berman Advisers Management Trust, Neuberger Berman</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_q.txt)<br> [<u>Management Inc. and NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_q.txt)<br> [<u>Exhibit (9)(q) to Pre-Effective Amendment No. 1 to the registration statement on Form S-6 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_q.txt)<br> [<u>Variable Universal Life-Separate Account - I (File No.</u> <u>333-5721</u><u>0), filed 6/4/01 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_q.txt)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_q.txt)<br>|
| (h)(10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among Liberty Variable Investment Trust, Columbia Funds Distributor, Inc. and</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012304012421/y03653exv99w8wawa.txt)<br> [<u>NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(a)(a) to</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012304012421/y03653exv99w8wawa.txt)<br> [<u>Post-Effective Amendment No. 4 to the registration statement on Form N-4 for NYLIAC Variable Annuity</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012304012421/y03653exv99w8wawa.txt)<br> [<u>Separate Account - IV (File No.</u> <u>333-1068</u><u>06), filed 10/25/04 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1209501/000095012304012421/y03653exv99w8wawa.txt)<br>|

---

------

---

| | |
|:---|:---|
| (h)(11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among New York Life Insurance and Annuity Corporation, MainStay VP Series</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8wy.txt)<br> [<u>Fund, Inc., and New York Life Investment Management LLC dated 10/7/04 — Previously filed in accordance</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8wy.txt)<br> [<u>with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(y) to Post-Effective Amendment No. 20 to the</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8wy.txt)<br> [<u>registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account I (File No.</u> <u>033-5334</u><u>2),</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8wy.txt)<br> [<u>filed 4/10/06 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8wy.txt)<br>|
| (h)(12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among NYLIAC, PIMCO Variable Insurance Trust and PIMCO Advisors Distributors</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99whw17.txt)<br> [<u>LLC — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(17) to</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99whw17.txt)<br> [<u>Post-Effective Amendment No. 9 to the registration statement on Form N-6 for NYLIAC, Corporate</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99whw17.txt)<br> [<u>Sponsored Variable Universal Life Separate Account - I (File No.</u> <u>333-4830</u><u>0), filed 4/14/04 and incorporated</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99whw17.txt)<br> [<u>herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99whw17.txt)<br>|
| (h)(13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Fund Participation Agreement, dated March 25, 2011, and effective as of May 1, 2011, between Blackrock</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wbwb.txt)<br> [<u>Variable Series Funds, Inc., Blackrock Investments, LLC, and NYLIAC — Previously filed in accordance with</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wbwb.txt)<br> [<u>Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(b)(b) to Post-Effective Amendment No. 25 to the</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wbwb.txt)<br> [<u>registration statement on Form N-4 for NYLIAC, Variable Annuity Separate Account - I (File No.</u> <u>033-5334</u><u>2),</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wbwb.txt)<br> [<u>filed 4/14/11 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wbwb.txt)<br>|
| (h)(14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among Columbia Funds Variable Series Trust II, Columbia Management Investment</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312515129401/d863004dex998gg.htm)<br> [<u>Distributors, Inc. and New York Life Insurance and Annuity Corporation, dated March 1, 2015 — Previously</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312515129401/d863004dex998gg.htm)<br> [<u>filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(g)(g) to Post-Effective Amendment</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312515129401/d863004dex998gg.htm)<br> [<u>No. 29 to the registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account - I (File No.</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312515129401/d863004dex998gg.htm)<br> [<u>033-5334</u><u>2), filed 4/14/15 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312515129401/d863004dex998gg.htm)<br>|
| (h)(15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement, dated May 1, 2007, among New York Life Insurance and Annuity Corporation,</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw27.txt)<br> [<u>Deutsche Variable Series I (formerly, DWS Variable Series I), Deutsche Variable Series II (formerly, DWS</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw27.txt)<br> [<u>Variable Series II), Deutsche Investments VIT Funds (formerly, DWS Investments VIT Funds), DWS Scudder</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw27.txt)<br> [<u>Distributors, Inc. (formerly, DWS Investments Distributors, Inc.) and Deutsche Investment Management</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw27.txt)<br> [<u>Americas Inc. — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(27) to</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw27.txt)<br> [<u>Post-Effective Amendment No. 17 to the registration statement on Form N-6 for NYLIAC Corporate</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw27.txt)<br> [<u>Sponsored Variable Universal Life Separate Account - I (File No.</u> <u>333-4830</u><u>0), filed 4/18/07 and incorporated</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw27.txt)<br> [<u>herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw27.txt)<br>|
| (h)(16) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among Legg Mason Investor Services LLC and New York Life Insurance and</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998jj.htm)<br> [<u>Annuity Corporation — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998jj.htm)<br> [<u>Exhibit (8)(j)(j) to Post-Effective Amendment No. 31 to the registration statement on Form N-4 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998jj.htm)<br> [<u>Variable Annuity Separate Account - I (File No.</u> <u>033-5334</u><u>2), filed 4/11/17 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998jj.htm)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998jj.htm)<br>|
| (h)(17) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement by and among AIM Variable Insurance Funds, AIM Distributors, Inc. and NYLIAC —</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99whw22.txt)<br> [<u>Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(22) to Post-Effective</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99whw22.txt)<br> [<u>Amendment No. 13 to the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99whw22.txt)<br> [<u>Universal Life Separate Account - I (File No.</u> <u>333-4830</u><u>0), filed 9/15/05 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99whw22.txt)<br>|
| (h)(18) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement, dated August 14, 2006, among New York Life Insurance and Annuity Corporation,</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw24.txt)<br> [<u>American Funds Insurance Series and Capital Research and Management Company — Previously filed in</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw24.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(24) to Post-Effective Amendment No. 16</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw24.txt)<br> [<u>to the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw24.txt)<br> [<u>Account - I (File No.</u> <u>333-4830</u><u>0), filed 8/15/06 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw24.txt)<br>|
| (h)(19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Fund Participation Agreement, dated August 14, 2006, among New York Life Insurance and Annuity</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw25.txt)<br> [<u>Corporation, Delaware VIP Trust, Delaware Management Company, and Delaware Distributors, L.P. —</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw25.txt)<br> [<u>Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(25) to Post-Effective</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw25.txt)<br> [<u>Amendment No. 16 to the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw25.txt)<br> [<u>Universal Life Separate Account — I (File No.</u> <u>333-4830</u><u>0), filed 8/15/06 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw25.txt)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw25.txt)<br>|
| (h)(20) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement, dated May 1, 2007, among New York Life Insurance and Annuity</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw26.txt)<br> [<u>Corporation, AllianceBernstein L.P. and Alliance Bernstein Investments, Inc.—Previously filed in accordance</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw26.txt)<br> [<u>with Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(26) to Post-Effective Amendment No. 17 to the</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw26.txt)<br> [<u>registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw26.txt)<br> [<u>Account-I (File NO.</u> <u>333-4830</u><u>0), filed 4/18/07 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw26.txt)<br>|

---

------

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| | |
|:---|:---|
| (h)(21) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement, among New York Life Insurance and Annuity Corporation, Voya Investments</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312518115607/d517425dex99h30.htm)<br> [<u>Distributor, LLC, Voya Investments, LLC, Voya Variable Portfolios, Inc., and Voya Variable Products Trust –</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312518115607/d517425dex99h30.htm)<br> [<u>Previously filed in accordance with Regulation S-T 17 CFR 232.102(e) as Exhibit (h)(30) to Post-Effective</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312518115607/d517425dex99h30.htm)<br> [<u>Amendment No. 38 to the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312518115607/d517425dex99h30.htm)<br> [<u>Universal Life Separate Account – I (File No.</u> <u>333-4830</u><u>0), filed 4/12/18 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312518115607/d517425dex99h30.htm)<br>|
| (h)(22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among New York Life Insurance and Annuity Corporation, Principal Variable</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312524092827/d783723dex99h22.htm)<br> [<u>Contracts Fund, Inc., Principal Funds Distributor, Inc. and Principal Global Investors, LLC, dated 3/14/24 –</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312524092827/d783723dex99h22.htm)<br> [<u>Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(22) to Post-Effective</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312524092827/d783723dex99h22.htm)<br> [<u>Amendment No. 39 to the registration statement on Form N-4 for NYLIAC Variable Annuity Separate</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312524092827/d783723dex99h22.htm)<br> [<u>Account - I (File No.</u> <u>033-5334</u><u>2), filed 4/11/24 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312524092827/d783723dex99h22.htm)<br>|
| (h)(23) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among New York Life Insurance and Annuity Corporation, Putnam Variable Trust,</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312524092827/d783723dex99h23.htm)<br> [<u>and Putnam Retail Management Limited Partnership, dated 4/1/24 – Previously filed in accordance with</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312524092827/d783723dex99h23.htm)<br> [<u>Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(23) to Post-Effective Amendment No. 39 to the registration</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312524092827/d783723dex99h23.htm)<br> [<u>statement on Form N-4 for NYLIAC Variable Annuity Separate Account - I (File No.</u> <u>033-5334</u><u>2), filed 4/11/24</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312524092827/d783723dex99h23.htm)<br> [<u>and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312524092827/d783723dex99h23.htm)<br>|
| (h)(24) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among New York Life Insurance and Annuity Corporation, Franklin Templeton</u>](d101742dex99h24.htm)<br> [<u>Variable Insurance Products Trust, and Franklin Distributors, LLC, dated 5/1/26 – Filed herewith.</u>](d101742dex99h24.htm)<br>|
| (h)(25) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement among New York Life Insurance and Annuity Corporation, Goldman Sachs</u>](d101742dex99h25.htm)<br> [<u>Variable Insurance Trust, and Goldman Sachs & Co. LLC – Filed herewith.</u>](d101742dex99h25.htm)<br>|
| (i) | Administrative Contracts. |
| (i)(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Substitution Agreement among NYLIAC, MainStay Management LLC, and New York Life Investment</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_s.txt)<br> [<u>Management LLC — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (9)(s)</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_s.txt)<br> [<u>to Pre-Effective Amendment No. 1 to the registration statement on Form S-6 for NYLIAC Variable Universal</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_s.txt)<br> [<u>Life-Separate Account - I (File No.</u> <u>333-5721</u><u>0), filed 6/4/01 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_s.txt)<br>|
| (i)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amendment dated 9/27/02 to Stock Sale Agreement dated 6/4/93 between NYLIAC and MainStay VP Series</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303004017/e8282301exv99w8wn.txt)<br> [<u>Fund, Inc. — Previously filed in accordance with Regulation S-T, 17 CFR 232.102 (e) as Exhibit (8)(n) to</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303004017/e8282301exv99w8wn.txt)<br> [<u>Post-Effective Amendment No. 18 to the registration statement on Form N-4 for NYLIAC Variable Annuity</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303004017/e8282301exv99w8wn.txt)<br> [<u>Separate Account - III (File No.</u> <u>033-8738</u><u>2), filed 4/9/03 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303004017/e8282301exv99w8wn.txt)<br>|
| (i)(3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>12b-1 Plan Services Agreement for the Service Class Shares of Mainstay VP Series Fund, Inc. between</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8wx.txt)<br> [<u>NYLIFE Distributors, Inc. and NYLIAC dated 12/22/05 — Previously filed in accordance with Regulation S-T,</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8wx.txt)<br> [<u>17 CFR 232.102(e) as Exhibit (8)(x) to Post-Effective Amendment No. 20 to the registration statement on</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8wx.txt)<br> [<u>Form N-4 for NYLIAC Variable Annuity Separate Account - I (File No.</u> <u>033-5334</u><u>2), filed 4/10/06 and</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8wx.txt)<br> [<u>incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8wx.txt)<br>|
| (i)(4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Distribution Agreement between Dreyfus Service Corporation and NYLIAC dated as of 2/24/03 —Previously</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wq.txt)<br> [<u>filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(q) to Post-Effective Amendment</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wq.txt)<br> [<u>No. 19 to the registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account - III (File</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wq.txt)<br> [<u>No.</u> <u>033-8738</u><u>2), filed 5/14/03 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wq.txt)<br>|
| (i)(5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amended and Restated Service Contract between Fidelity Distributors Corporation and NYLIFE Distributors</u>](http://www.sec.gov/Archives/edgar/data/1209501/000119312520104997/d281148dex998p.htm)<br> [<u>dated 10/1/11 — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(p) to</u>](http://www.sec.gov/Archives/edgar/data/1209501/000119312520104997/d281148dex998p.htm)<br> [<u>Post-Effective Amendment No. 25 to the registration statement on Form N-4 for NYLIAC Variable Annuity</u>](http://www.sec.gov/Archives/edgar/data/1209501/000119312520104997/d281148dex998p.htm)<br> [<u>Separate Account—IV (File No.</u> <u>333-1560</u><u>19), filed 4/13/20 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1209501/000119312520104997/d281148dex998p.htm)<br>|
| (i)(6) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Distribution and Shareholder Services Agreement between Janus Distributors LLC and NYLIAC dated</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8ws.txt)<br> [<u>4/30/03 — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(s) to</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8ws.txt)<br> [<u>Post-Effective Amendment No. 19 to the registration statement on Form N-4 for NYLIAC Variable Annuity</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8ws.txt)<br> [<u>Separate Account - III (File No.</u> <u>033-8738</u><u>2), filed 5/14/03 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8ws.txt)<br>|
| (i)(7) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Administrative Service Agreement between Morgan Stanley & Co. Incorporated and NYLIAC dated</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wv.txt)<br> [<u>4/30/03 — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(v) to</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wv.txt)<br> [<u>Post-Effective Amendment No. 19 to the registration statement on Form N-4 for NYLIAC Variable Annuity</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wv.txt)<br> [<u>Separate Account - III (File No.</u> <u>033-8738</u><u>2), filed 5/14/03 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8wv.txt)<br>|
| (i)(8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Distribution and Administrative Services Agreement, Class S Shares, between Neuberger Berman</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8ww.txt)<br> [<u>Management, Inc. and NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8ww.txt)<br> [<u>Exhibit (8)(w) to Post-Effective Amendment No. 19 to the registration statement on Form N-4 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8ww.txt)<br> [<u>Variable Annuity Separate Account - III (File No.</u> <u>033-8738</u><u>2), filed 5/14/03 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8ww.txt)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8ww.txt)<br>|

---

------

---

| | |
|:---|:---|
| (i)(9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Administrative Services Letter of Agreement between Columbia Funds Distributor, Inc. and NYLIAC —</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012305004400/y04529paexv99w8wt.txt)<br> [<u>Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(t) to Post-Effective</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012305004400/y04529paexv99w8wt.txt)<br> [<u>Amendment No. 18 to the registration statement on Form N-4 for NYLIAC Variable Annuity Separate</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012305004400/y04529paexv99w8wt.txt)<br> [<u>Account - I (File No.</u> <u>033-5334</u><u>2), filed 4/12/05 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012305004400/y04529paexv99w8wt.txt)<br>|
| (i)(10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Administrative Services Agreement between New York Life Investment Management LLC and NYLIAC dated</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8ww.txt)<br> [<u>1/1/05 — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(w) to</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8ww.txt)<br> [<u>Post-Effective Amendment No. 20 to the registration statement on Form N-4 for NYLIAC Variable Annuity</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8ww.txt)<br> [<u>Separate Account - I (File No.</u> <u>033-5334</u><u>2), filed 4/10/06 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8ww.txt)<br>|
| (i)(11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>PIMCO Services Agreement For Advisor Class Shares of PIMCO Variable Insurance Trust, dated as of</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012310034440/y82768exv99w8wz.txt)<br> [<u>January 14, 2010, between NYLIAC and Pacific Investment Management Company LLC- Previously filed in</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012310034440/y82768exv99w8wz.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(z) to Post-Effective Amendment No. 24 to</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012310034440/y82768exv99w8wz.txt)<br> [<u>the registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account - I (File No.</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012310034440/y82768exv99w8wz.txt)<br> [<u>033-5334</u><u>2), filed 4/13/10 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012310034440/y82768exv99w8wz.txt)<br>|
| (i)(12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Administrative Services Agreement, dated March 25, 2011, and effective as of May 1, 2011, between</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wawa.txt)<br> [<u>Blackrock Advisors, LLC and NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wawa.txt)<br> [<u>232.102(e) as Exhibit (8)(a)(a) to Post-Effective Amendment No. 25 to the registration statement on</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wawa.txt)<br> [<u>Form N-4 for NYLIAC, Variable Annuity Separate Account - I (File No.</u> <u>033-5334</u><u>2), filed 4/14/11 and</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wawa.txt)<br> [<u>incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wawa.txt)<br>|
| (i)(13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amended and Restated Administrative Services Agreement between New York Life Investment Management</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998cc.htm)<br> [<u>LLC and NYLIAC, dated February 17, 2012 — Previously filed in accordance with Regulation S-T 17 CFR</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998cc.htm)<br> [<u>232.102(e) as Exhibit (8)(c)(c) to Post-Effective Amendment No. 26 to the registration statement on</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998cc.htm)<br> [<u>Form N-4 for NYLIAC Variable Annuity Separate Account — I (File No.</u> <u>033-5334</u><u>2), filed 4/11/12 and</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998cc.htm)<br> [<u>incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998cc.htm)<br>|
| (i)(14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amended and Restated 12b-1 Plan Services Agreement for the Service Class Shares of the MainStay VP</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998dd.htm)<br> [<u>Funds Trust between NYLIFE Distributors LLC and NYLIAC, dated April 29, 2011 — Previously filed in</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998dd.htm)<br> [<u>accordance with Regulation S-T 17 CFR 232.102(e) as Exhibit (8)(d)(d) to Post-Effective Amendment No. 26</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998dd.htm)<br> [<u>to the registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account — I (File No.</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998dd.htm)<br> [<u>033-5334</u><u>2), filed 4/11/12 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998dd.htm)<br>|
| (i)(15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>PIMCO Services Agreement for Advisor Class Shares of PIMCO Variable Insurance Trust, dated</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312514140549/d630449dex998ee.htm)<br> [<u>February 25, 2014, and effective May 1, 2014, between Pacific Investment Management Company LLC and</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312514140549/d630449dex998ee.htm)<br> [<u>New York Life Insurance and Annuity Corporation — Previously filed in accordance with Regulation S-T, 17</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312514140549/d630449dex998ee.htm)<br> [<u>CFR 232.102(e) as Exhibit 8(e)(e) to Post-Effective Amendment No. 28 to the registration statement on</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312514140549/d630449dex998ee.htm)<br> [<u>Form N-4 for NYLIAC Variable Annuity Separate Account - I (File No.</u> <u>033-5334</u><u>2), filed 4/11/14 and</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312514140549/d630449dex998ee.htm)<br> [<u>incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312514140549/d630449dex998ee.htm)<br>|
| (i)(16) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Selling Agreement for Advisor Class Shares of PIMCO Variable Insurance Trust, dated February 25, 2014,</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312514140549/d630449dex998ff.htm)<br> [<u>between PIMCO Investments LLC and New York Life Insurance and Annuity Corporation — Previously filed</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312514140549/d630449dex998ff.htm)<br> [<u>in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit 8(f)(f) to Post-Effective Amendment No. 28</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312514140549/d630449dex998ff.htm)<br> [<u>to the registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account - I (File No.</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312514140549/d630449dex998ff.htm)<br> [<u>033-5334</u><u>2), filed 4/11/14 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312514140549/d630449dex998ff.htm)<br>|
| (i)(17) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Administrative Services Letter of Agreement, dated May 1, 2007, between Deutsche Investment</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012308004127/y41129a1exv99wiw14.txt)<br> [<u>Management Americas Inc. and New York Life Insurance and Annuity Corporation — Previously filed in</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012308004127/y41129a1exv99wiw14.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(14) to Pre-Effective Amendment No. 1 to</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012308004127/y41129a1exv99wiw14.txt)<br> [<u>the registration statement on Form N-6 for NYLIAC Variable Universal Life Separate Account - I (File</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012308004127/y41129a1exv99wiw14.txt)<br> [<u>No.</u><u>333-1477</u><u>07), filed 4/14/08 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012308004127/y41129a1exv99wiw14.txt)<br>|
| (i)(18) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Administrative Services Agreement among Legg Mason Investor Services, LLC and New York Life Insurance</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998kk.htm)<br> [<u>and Annuity Corporation — Previously filed in accordance with Regulation S-T, 17 CFR 232.102 (e) as</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998kk.htm)<br> [<u>Exhibit (8)(k)(k) to Post-Effective Amendment No. 31 to the registration statement on Form N-4 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998kk.htm)<br> [<u>Variable Annuity Separate Account - I (File No.</u> <u>033-5334</u><u>2), filed 4/11/17 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998kk.htm)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998kk.htm)<br>|
| (i)(19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Service Agreement between Fidelity Investments Institutional Operations Company, Inc. and New York Life</u>](http://www.sec.gov/Archives/edgar/data/1209501/000119312520104997/d281148dex998ww.htm)<br> [<u>Insurance and Annuity Corporation dated 1/1/1998 — Previously filed in accordance with Regulation S-T, 17</u>](http://www.sec.gov/Archives/edgar/data/1209501/000119312520104997/d281148dex998ww.htm)<br> [<u>CFR 232.102(e) as Exhibit (8)(w)(w) to Post-Effective Amendment No. 25 to the registration statement on</u>](http://www.sec.gov/Archives/edgar/data/1209501/000119312520104997/d281148dex998ww.htm)<br> [<u>Form N-4 for NYLIAC Variable Annuity Separate Account — IV (File No.</u> <u>333-1560</u><u>19), filed 4/13/20 and</u>](http://www.sec.gov/Archives/edgar/data/1209501/000119312520104997/d281148dex998ww.htm)<br> [<u>incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1209501/000119312520104997/d281148dex998ww.htm)<br>|

---

------

---

| | |
|:---|:---|
| (i)(20) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Tri Party Agreement among Legg Mason Partners Variable Equity Trust, Legg Mason Partners Fund Advisor,</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312521341942/d244072dex99i11.htm)<br> [<u>LLC, New York Life Insurance and Annuity Corporation, American Funds Insurance Series, American Funds</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312521341942/d244072dex99i11.htm)<br> [<u>Distributor, Inc., and Capital Research and Management Company dated 4/13/2020—Previously filed in</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312521341942/d244072dex99i11.htm)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(11) to Post-Effective Amendment No. 2 to</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312521341942/d244072dex99i11.htm)<br> [<u>the registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account III (File No.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312521341942/d244072dex99i11.htm)<br> [<u>333-2397</u><u>52), filed 11/29/21 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312521341942/d244072dex99i11.htm)<br>|
| (i)(21) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Tri Party Agreement among Legg Mason Partners Variable Equity Trust, Legg Mason Partners Fund Advisor,</u>](https://www.sec.gov/Archives/edgar/data/906982/000119312522081695/d295816dex99i22.htm)<br> [<u>LLC, New York Life Insurance and Annuity Corporation, AIM Variable Insurance Funds (Invesco Variable</u>](https://www.sec.gov/Archives/edgar/data/906982/000119312522081695/d295816dex99i22.htm)<br> [<u>Insurance Funds) and Invesco Advisers, Inc. dated 1/21/22—Previously filed in accordance with Regulation</u>](https://www.sec.gov/Archives/edgar/data/906982/000119312522081695/d295816dex99i22.htm)<br> [<u>S-T, 17 CFR 232.102(e) as Exhibit (i)(22) to initial registration statement on Form N-6 for NYLIAC Variable</u>](https://www.sec.gov/Archives/edgar/data/906982/000119312522081695/d295816dex99i22.htm)<br> [<u>Universal Life Separate Account - I (</u><u>333-2637</u><u>68), filed 3/22/22 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/906982/000119312522081695/d295816dex99i22.htm)<br>|
| (i)(22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Administrative Services Agreement, dated May 1, 2007, among New York Life Insurance and</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wiw23.txt)<br> [<u>Annuity Corporation, AllianceBernstein L.P. and AllianceBernstein Investments, Inc.—Previously filed in</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wiw23.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) Exhibit (i)(23) to Post-Effective Amendment No. 17 to</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wiw23.txt)<br> [<u>the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wiw23.txt)<br> [<u>Account-I (File No.</u> <u>333-4830</u><u>0), filed 4/18/07 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wiw23.txt)<br>|
| (i)(23) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Marketing and Administrative Services Agreement between New York Life Insurance and Annuity</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312524092827/d783723dex99i23.htm)<br> [<u>Corporation and Putnam Retail Management Limited Partnership, dated 4/1/24 – Previously filed in</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312524092827/d783723dex99i23.htm)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(23) to Post-Effective Amendment No. 39</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312524092827/d783723dex99i23.htm)<br> [<u>to the registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account - I (File No.</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312524092827/d783723dex99i23.htm)<br> [<u>033-5334</u><u>2), filed 4/11/24 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/000119312524092827/d783723dex99i23.htm)<br>|
| (i)(24) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Services Agreement between New York Life Insurance and Annuity Corporation and Franklin Distributors,</u>](d101742dex99i24.htm)<br> [<u>LLC, dated 5/1/26 – Filed herewith.</u>](d101742dex99i24.htm)<br>|
| (i)(25) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Administrative Services Agreement between New York Life Insurance and Annuity Corporation and</u>](d101742dex99i25.htm)<br> [<u>Goldman Sachs Asset Management, L.P. – Filed herewith.</u>](d101742dex99i25.htm)<br>|
| (j) | Other Material Contracts. Not applicable. |
| (k) | Legal Opinion. |
| (k)(1) | Opinion and Consent of Charles A. Whites, Jr., Esq – [<u>Filed herewith.</u>](d101742dex99k1.htm) |
| (l) | Other Opinions. |
| (l)(1) | Consent of PricewaterhouseCoopers LLP – [<u>Filed herewith.</u>](d101742dex99l1.htm) |
| (m) | Omitted Financial Statements. Not applicable. |
| (n) | Initial Capital Agreements. Not applicable. |
| (o)(1) | Form of Initial Summary Prospectus. Not applicable. |
| (p) | Powers of Attorney. |
| (p)(1) | Powers of Attorney – [<u>Filed herewith.</u>](d101742dex99p1.htm) |
| (q) | Letter Regarding Change in Certifying Accountant. Not applicable. |
| (r) | Historical Current Limits on Index Gains. Not applicable. |

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------

ITEM 28. DIRECTORS AND OFFICERS OF THE INSURANCE COMPANY

The principal business address of each director and officer of NYLIAC is 51 Madison Avenue, New York, NY 10010.

---

| | |
|:---|:---|
| **Name:** | **Title:** |
| DeSanto, Craig L. | Chairman, Chief Executive Officer & President |
| Anderson, Erik A. | Director, Senior Vice President & Chief Actuary |
| Feldstein, Eric M. | Director, Executive Vice President & Chief Financial Officer |
| Hendry, Thomas A. | Director, Senior Vice President & Treasurer |
| Kravitz, Jodi L. | Director & Senior Vice President |
| McDonnell, Michael K. | Director, Senior Vice President, General Counsel & Chief Legal Officer |
| Miller, Amy | Director, Senior Vice President, Deputy General Counsel & Assistant Secretary |
| Chen, Angela | Senior Vice President & Controller |
| Ball, Aaron | Executive Vice President |
| Karaoglan, Alain M. | Executive Vice President |
| Madgett, Mark J. | Executive Vice President |
| Soni, Deepa | Executive Vice President & Chief Information Officer |
| Abramo, Stephen | Senior Vice President |
| Albarella, Joel I. | Senior Vice President |
| Arita, Darin C. | Senior Vice President |
| Berlin, Scott L. | Senior Vice President |
| Bopp, Kevin M. | Senior Vice President |
| Brill, Elizabeth K. | Senior Vice President & Actuary |
| Budhwani, Reshma | Senior Vice President |
| Casanova, Ramon | Senior Vice President |
| Colleary, Maura R. | Senior Vice President |
| Colon, Wilfred R. | Senior Vice President |
| Cooney, Colleen C. | Senior Vice President |
| Cronin, Maureen A. | &nbsp;&nbsp; Senior Vice President, Deputy General Counsel, Chief Investment Counsel & Assistant <br> Secretary<br>|
| Cruz, David | Senior Vice President |
| Drinkard, Kenneth R. | Senior Vice President & General Auditor |
| Formon, William | Senior Vice President |
| Frederick, Robert R. | Senior Vice President |
| Gennaro, Paul J. | Senior Vice President |
| Glynn, Kevin M. | Senior Vice President |
| Gupta, Tina | Senior Vice President |
| Herwig, Julie E. | Senior Vice President |
| Hu, Amy | Senior Vice President |
| Huang, Dylan W. | Senior Vice President |
| James, Cheryl | Senior Vice President & Deputy General Counsel |
| Khalil, Saad A. | Senior Vice President |
| Kuhl Sarrubbo, Amanda L. | Senior Vice President |
| Lenz, Scott L. | Senior Vice President, Deputy General Counsel & Chief Tax Counsel |
| Leonard, Jason P. | Senior Vice President |
| McClain, Keith B. | Senior Vice President |
| Mian, Farhad A. | Senior Vice President |
| Micucci, Alison H. | Senior Vice President |
| Navarro, Kathleen | Senior Vice President |
| Nesle, Heather M. | Senior Vice President |
| Nguyen, Mychael A. | Senior Vice President |
| O'Hanlon, Thomas P. | Senior Vice President |
| Patel, Hiran | Senior Vice President |
| Putnam, Roger L. | Senior Vice President |

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------

---

| | |
|:---|:---|
| **Name:** | **Title:** |
| Rocchi, Gerard A. | Senior Vice President |
| Rodgers, Joanne H. | Senior Vice President & Head of Human Resources |
| Rosenthal, Benjamin L. | Senior Vice President & Chief Risk Officer |
| Sabal, Craig A. | Senior Vice President, Deputy Chief Investment Officer & Chief Derivatives Officer |
| Schwartz, Rachel S. | Senior Vice President & Associate General Counsel |
| Simonetti, Richard P. | Senior Vice President |
| Susser, Andrew M. | Senior Vice President |
| Taylor, Todd | Senior Vice President |
| Tillotson, Sandra G. | Senior Vice President & Chief Compliance Officer |
| Virendra, Sonali | Senior Vice President |
| Vu, Don D. | Senior Vice President |
| Walsh, Edward C. | Senior Vice President |
| Williams, Brian D. | Senior Vice President |
| Wion, Matthew D. | Senior Vice President |
| Abdelkader, Farid | Vice President & Associate General Auditor |
| Advani, Janice | Vice President |
| Alam, Raian | Vice President & Managing Director |
| Albano, Angelina | Vice President |
| Almiroudis, Demetra | Vice President |
| Armstrong, Vivian | Vice President |
| Ascione, Mitchell P. | Vice President |
| Bain, Karen A. | Vice President |
| Ballman, Cheryl | Vice President |
| Becher, Eric R. | Vice President |
| Behar, Paul | Vice President |
| Beligotti, Jeffrey | Vice President |
| Ben-Ami, Kevin A. | Vice President & Associate General Counsel |
| Black, Meaghan | Vice President |
| Boccio, John | Vice President |
| Bonavitacola, Erica B. | Vice President |
| Borisenko, Evgueni | Vice President & Actuary |
| Boyd IV, Robert L. | Vice President |
| Braut, Stephen A. | Vice President |
| Bredikis, Scott | Vice President |
| Breslin, Christopher J. | Vice President |
| Brobston, Irena S. | Vice President |
| Brochard, Gabrielle | Vice President & Actuary |
| Brotherton, Diane M. | Vice President |
| Brown, Justin E. | Vice President |
| Caminiti, Philip E. | Vice President |
| Carbone, Jeanne M. | Vice President & Actuary |
| Carey, Christopher H. | Vice President |
| Carrig, Erica E. | Vice President & Associate General Counsel |
| Chan, David | Vice President, Associate General Counsel & Assistant Secretary |
| Chan, Vee-En | Vice President |
| Cherpelis, George S. | Vice President |
| Choi, Edward | Vice President |
| Chua, Albert | Vice President & Actuary |
| Citera, Frank | Vice President |
| Civello, Alisa M. | Vice President |
| Cobaj, Skender | Vice President |
| Cohen, Andrew J. | Vice President |

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------

---

| | |
|:---|:---|
| **Name:** | **Title:** |
| Cohen, Ross E. | Vice President |
| Collins, Maria V. | Vice President |
| Colton, Andrew | Vice President & Actuary |
| Cole, Kerry | Vice President & Managing Director |
| Contey, Allison | Vice President |
| Conti, Jane S. | Vice President |
| Cooper, Natalie | Vice President |
| Council, Catherine | Vice President |
| Crawford, Thomas | Vice President & Actuary |
| Cristello, Cindy | Vice President |
| Curran, Debra | Vice President |
| Danzig, Jeff | Vice President & Actuary |
| Dave, Ushir | Vice President |
| Davidowitz, Aron B. | Vice President |
| Davis, Juliet | Vice President |
| Del Bello, Timothy | Vice President |
| DelGreco, Phylliss A. | Vice President & Associate General Counsel |
| DiCalogero, John V. | Vice President |
| DiCarmine, Kristen | Vice President |
| DiRago, John C. | Vice President |
| Donner, Andrew | Vice President |
| Donohue, Robert P. | Vice President & Assistant Treasurer |
| Duarte, Deborah | Vice President |
| Eppink, Jr., Richard H. | Vice President |
| Facinelli, Joanne S. | Vice President |
| Feeney, Brendan L. | Vice President |
| Feinberg, Amarya | Vice President & Actuary |
| Ferreira, Leandra C. | Vice President |
| Fitzgerald, Christopher P. | Vice President |
| Florin, Timothy | Vice President |
| Fong, Michael | Vice President & Actuary |
| Fox, Ryan D. | Vice President |
| Freeman, Lisa A. | Vice President |
| Fromm, Paul | Vice President |
| Froshiesar, Donn | Vice President |
| Gallagher, Erin M. | Vice President |
| Gamble, Michael | Vice President |
| Gangemi, Thomas J. | Vice President & Chief Underwriter |
| Gao, J. Kevin | Vice President & Associate General Counsel |
| Gill, Sandra | Vice President |
| Gleason, Kevin M. | Vice President |
| Goel, Prakhar | Vice President |
| Goldstein, Andrew | Vice President |
| Goldstein, Paul Z. | Vice President & Associate General Counsel |
| Goodwin, Lauren E. | Vice President |
| Gostling, Page H. | Vice President |
| Grace, Deborah A. | Vice President |
| Gunda, Kishore | Vice President |
| Hajducek, Laura | Vice President |
| Hale, Rachel | Vice President & Actuary |
| Hammie, Tyrin | Vice President |
| Han, Wen Wei | Vice President & Actuary |

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------

---

| | |
|:---|:---|
| **Name:** | **Title:** |
| Hanley, Dale A. | Vice President |
| Hayden, Adam C. | Vice President |
| Healy, Brendan J. | Vice President |
| Healy, John J. | Vice President |
| Hekmat, Saba | Vice President |
| Henderson, Loyd T. | Vice President |
| Hoffman, Eric S. | Vice President |
| Huang, Angela | Vice President & Actuary |
| Hyland, Meredith K. | Vice President |
| Ingham, Scott | Vice President & Assistant Secretary |
| Jackson, Eric | Vice President |
| Jackson, Zerlina R. | Vice President |
| James, Jack A. | Vice President |
| Johnston, Todd C. | Vice President |
| Kakkanattu, Manuel M. | Vice President |
| Katti, Rohit R. | Vice President |
| Kelly, Christopher P. | Vice President & Associate General Auditor |
| Kim, Terry | Vice President |
| Klatell, Jeremy N. | Vice President, Associate General Counsel & Chief Litigation Counsel |
| Kowal, Neha | Vice President |
| Kraus, Linda M. | Vice President |
| Kula, Michael | Vice President & Actuary |
| Kyan, Raymond | Vice President |
| LaPier, Theodore | Vice President & Associate General Counsel |
| Larkin, Colleen E. | Vice President & Assistant Secretary |
| Laugesen, Katie | Vice President |
| Lawrence, Cameryn A. | Vice President |
| Lee, Young | Vice President |
| Lewis, Sean S. | Vice President |
| Lewis, Tanner | Vice President |
| Loden, Wesley | Vice President & Actuary |
| Long, Harry Scott | Vice President |
| Lunny, Ryan | Vice President |
| Lynn, Eric J. | Vice President & Actuary |
| Machols, Jeffrey J. | Vice President |
| Madgett, Sean | Vice President |
| Marcel, Imari | Vice President |
| Marinaccio, Ralph S. | Vice President |
| Martello, Virginia C. | Vice President |
| Martin, Trina | Vice President |
| McGilberry, Brent | Vice President |
| McKeon, John | Vice President & Actuary |
| McNamara, Stephen J. | Vice President & Actuary |
| McNulty, Stephen B. | Vice President |
| Melka, Frank David | Vice President |
| Micale, Anthony F. | Vice President |
| Micun, Pawel | Vice President |
| Millay, Edward P. | Vice President |
| Mitchinson, Tod J. | Vice President |
| Mitra, Debapriya | Vice President |
| Moo-Young, Jillian | Vice President |
| Mosquera, Jaime | Vice President & Actuary |

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------

---

| | |
|:---|:---|
| **Name:** | **Title:** |
| Mossessian, Dmitri | Vice President |
| Mount, William J. | Vice President |
| Mujala, Maambo | Vice President |
| Mwaramba, Rutendo | Vice President & Actuary |
| Nair, Dinesh K. | Vice President |
| Nayar, Ridhika | Vice President |
| Newman, Jennifer | Vice President |
| Ng, Ching (Andrew) | Vice President & Actuary |
| O'Brien, Daniel J. | Vice President |
| O'Hearn, Claudine C. | Vice President |
| O'Neill, Kathleen | Vice President, Associate General Counsel, & Assistant Secretary |
| Orban, Rachel | Vice President, Associate General Counsel, & Assistant Secretary |
| Orselli, Francesco | Vice President & Managing Director |
| Panganiban, Maria E. | Vice President |
| Paone, Jonathan T. | Vice President |
| Pavone, Joseph | Vice President |
| Perrotti, Anthony R. | Vice President |
| Perry, Valerie L. | Vice President |
| Perseghin, Andrew J. | Vice President |
| Petersen, Todd | Vice President & Actuary |
| Pizzute, Robert J. | Vice President |
| Poli, Christopher | Vice President & Managing Director |
| Portnoy, Michael | Vice President |
| Power, Kevin J. | Vice President |
| Quarella, Anthony | Vice President & Actuary |
| Quartararo, Paul | Vice President |
| Rajendran, Paul P. | Vice President |
| Rangachar, Raghu | Vice President & Actuary |
| Rao, Achuth | Vice President |
| Rice, Scott | Vice President |
| Riven, Inga | Vice President & Actuary |
| Rodgers, Kathryn A. | Vice President |
| Rodrigue, Kyle | Vice President |
| Rosenblum, Tal | Vice President |
| Rotondo, Richard | Vice President |
| Roy, Jennifer M. | Vice President |
| Rubin, Janis C. | Vice President |
| Sabo, Phillip J. | Vice President |
| Salvatore, Daniel | Vice President |
| Sarma, Samar | Vice President |
| Schirizzo, Michael | Vice President |
| Scozzafava, Mark J. | Vice President |
| Seaman, Brian | Vice President |
| Seewald, Scott R. | Vice President |
| Seguin, Brian | Vice President |
| Serdyuk, Elena | Vice President |
| Seyb, Sean M. | Vice President |
| Shah, Chintan T. | Vice President |
| Shan, YiYi | Vice President |
| Shapiro, Natalie | Vice President |
| Sharma, Vikas | Vice President |
| Shaub, Sarah | Vice President |

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---

| | |
|:---|:---|
| **Name:** | **Title:** |
| Sherman, Eric C. | Vice President & Actuary |
| Sherman, Nancy G. | Vice President |
| Singh, Jacqueline | Vice President |
| Smith, Kevin M. | Vice President |
| Solazzo, Amy L. | Vice President |
| Sommer, Kenneth M. | Vice President |
| Standbridge, Elizabeth A. | Vice President |
| Steelman, Elliot H. | Vice President |
| Stengel, Agustin | Vice President |
| Stricoff, Celine | Vice President |
| Strutton, Rebecca | Vice President & Associate General Counsel |
| Suh, Hannah L. | Vice President & Actuary |
| Suryapranata, Monica | Vice President |
| Sverdlov, Michael | Vice President |
| Tamayo-Sanchez, Angelica | Vice President |
| Thomas, Robert W. | Vice President |
| Tillinghast, Mark E. | Vice President |
| Tobin, Michael | Vice President |
| Todorov, Natalia | Vice President |
| Tomassi, Deborah A. | Vice President |
| Torrey, Arthur S. | Vice President |
| Tripi, Stephen A. | Vice President |
| Tyndell, Elizabeth A. | Vice President |
| Vandegrift, Jr., Donald P. | Vice President & Associate General Counsel |
| Vilchis, Hector D. | Vice President |
| Vinson, Stephen B. |  |
| Waelti, Linus | Vice President & Actuary |
| Wall, Joseph E. | Vice President |
| Wang, Ching C. | Vice President |
| Warga, Regina | Vice President |
| Warner, S. Andre | Vice President & Associate General Counsel |
| Weatherman, Aaron | Vice President & Actuary |
| Wei, Helen | Vice President |
| Weiss, Jennifer M. | Vice President |
| Whites, Jr., Charles A. | Vice President & Associate General Counsel |
| Wickwire, Brian D. | Vice President |
| Williams, Matthew | Vice President |
| Wilson, Michael E. | Vice President |
| Wolf, Madeline A. | Vice President |
| Wong, Judy | Vice President & Actuary |
| Wood, Melissa | Vice President |
| Wulwick, Jacqueline N. | Vice President |
| Yashnyk, Michael A. | Vice President |
| Yenko, Elizabeth M. | Vice President |
| Zaman, Nabeed | Vice President |
| Zeng, Paul | Vice President & Actuary |
| Meade, Colleen A. | Associate General Counsel & Secretary |

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ITEM 29. PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH THE INSURANCE COMPANY OR THE REGISTERED SEPARATE ACCOUNT

The Insurance Company, NYLIAC, is a wholly-owned subsidiary of New York Life Insurance Company ("New York Life"). The Registered Separate Account is a segregated asset account of NYLIAC. The following chart indicates persons presumed to be controlled by New York Life(+), unless otherwise indicated. Subsidiaries of other subsidiaries are indented accordingly, and ownership is 100% unless otherwise indicated.

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| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| MSVEF II Investor LLC | (Delaware) | (NYLIC: 85%, NYLIAC: 15%) |
| MSVEF Investor LLC | (Delaware) |  |
| MSVEF Feeder LP | (Delaware) | (55.56%) |
| MSVEF REIT LLC | (Delaware) | (55.56%) |
| Madison Square Value Enhancement Fund LP <br> ("MSVEFLP")<br>| (Delaware) | (51%) |
| MSVEF-MF Evanston GP LLC | (Delaware) | (51%) |
| MSVEF-MF Evanston IL LP | (Delaware) | (51%) |
| MSVEF-IND Commerce 303 GP LLC | (Delaware) |  |
| MSVEF-IND Commerce 303 AZ LP | (Delaware) |  |
| MSVEF-SW Commerce 303 JV LP | (Delaware) | (95%) |
| MSVEF-MF Pennbrook Station GP LLC | (Delaware) | (51%) |
| MSVEF-MF Pennbrook Station PA LP | (Delaware) | (MSVEFLP: 51%; GPLLC: 0%) |
| MSVEF-MF Burrough's Mill GP LLC | (Delaware) | (MSVEFLP: 100%) |
| MSVEF-MF Burrough's Mill NJ LP | (Delaware) | (MSVEFLP: 50%) |
| MSVEF-MF Gramercy JV GP LLC | (Delaware) |  |
| MSVEF-MF Gramercy OH LP | (Delaware) | (MSVEFLP: 100%; GPLLC: 0%) |
| MSVEF-CR Gramercy JV LP | (Delaware) | (75%) |
| MSVEF-CR Gramercy Owner GP LLC | (Delaware) |  |
| MSVEF-CR Gramercy Owner LP | (Delaware) | (JV: 99.9%; GP/LLC: 0.1%) |
| New York Life Group Insurance Company of NY ("NYLG") | (New York) |  |
| Life Insurance Company of North America | (Pennsylvania) |  |
| LINA Benefit Payments, Inc. | (Delaware) |  |
| New York Life Benefit Payments LLC | (Delaware) |  |
| NYL Real Assets LLC | (Delaware) |  |
| NYL Emerging Manager LLC | (Delaware) |  |
| NYL Wind Investments LLC | (Delaware) |  |
| NYLIFE Insurance Company of Arizona | (Arizona) |  |
| NYLIC HKP Member LLC | (Delaware) | (NYLIC: 67.974%; NYLIAC: 32.026%) |
| New York Life Insurance and Annuity Corporation | (Delaware) |  |
| NYLIAC RLP II, LLC | (Delaware) |  |
| Development Funding Backed Pass-Through Trust <br> Series – 2025 A<br>| (Delaware) | (11.75197%) |
| New York Life Enterprises LLC | (Delaware) |  |
| SEAF Sichuan SME Investment Fund LLC | (Delaware) | (39.98%) |
| New York Life International Holdings Limited | (Mauritius) | (84.38%)1 |
| Max Estates Limited | (India) | (NYLIH: 19.45%, NYLIC: 1.29%) |
| Max I. Limited | (India) |  |
| Max Assets Services Limited | (India) |  |
| Max Square Limited | (India) | (Max: 51%, NYLIC: 49%) |
| Pharmax Corporation Limited | (India) |  |
| Max Towers Private Limited | (India) | (Max: 51%, NYLIC: 49%) |
| Max Estates 128 Private Limited | (India) |  |
| Max Estate Gurgaon Limited | (India) |  |

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| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| Acreage Builders Private Limited | (India) | (Max: 51%, NYLIC: 49%) |
| Astiki Realty Private Limited | (India) |  |
| Max Estates Gurgaon Two Limited | (India) |  |
| NYL Cayman Holdings Ltd. | (Cayman Islands) |  |
| NYL Worldwide Capital Investments LLC | (Delaware) |  |
| Seguros Monterrey New York Life, S.A. de C.V. | (Mexico) | (99.998%)2 |
| Administradora de Conductos SMNYL, S.A. de C.V. | (Mexico) | (99%) |
| Agencias de Distribucion SMNYL, S.A. de C.V. ("ADIS") | (Mexico) | (99%) |
| Inmobiliaria SMNYL, SA de C.V. | (Mexico) | (99%; ADIS: 1%) |
| NYLIM Jacob Ballas India Holdings IV | (Mauritius) |  |
| NYL 717 Texas Member LLC (Delaware) (NYLIC: 60%, <br> NYLIAC: 40%)<br>| (Delaware) | (NYLIC 60%; NYLIAC: 40%) |
| NYL 717 Texas Holdings LLC | (Delaware) | &nbsp;&nbsp; (fks NYLife 717 Texas Holdings LLC) <br> (NYLIC: 75.96., NYLIAC: 24.04%)<br>|
| NYL 717 Texas REIT Holdings | (Delaware) |  |
| NYL 717 Texas Avenue TX TRS, LLC | (Delaware) |  |
| NYL 717 Texas Avenue TX Owner, LLC | (Delaware) |  |
| MSSIV NYL Investor Member LLC (Delaware) | (Delaware) | (NYLIC: 90%, NYLIAC: 10%) |
| New York Life Investment Management Holdings LLC | (Delaware) |  |
| NYL Investors LLC (Delaware) | (Delaware) | &nbsp;&nbsp; (effective 1.1.2026 the entity's <br> ownership changed from NYLIC to <br> NYLIM and the structure moved <br> under NYLIM)<br>|
| NYL Investors (U.K.) Limited | (UK) |  |
| NYL Investors REIT Manager LLC | (Delaware) |  |
| MSVEF II GP LLC | (Delaware) |  |
| MSVEF RT Feeder II LP | (Delaware) | (70%) |
| MSVEF II RT LLC | (Delaware) |  |
| Madison Square Value Enhancement Fund II LP | (Delaware) |  |
| MSVEF II – MF Innsbrook VA LLC | (Delaware) |  |
| MSVEF II-IND Turner West KS LLC | (Delaware) | (formed 1/22/2026) |
| MSVEF II-IND Turner West KS JV LLC | (Delaware) | (formed 1/22/2026) |
| MSVEF II-IND Turner West KS Owner 6 LLC | (Delaware) | (formed 1/22/2026) |
| MSVEF II-IND Turner West KS Owner 7 LLC | (Delaware) | (formed 1/22/2026) |
| MSVEF II-IND Turner West KS Owner 8 LLC | (Delaware) | (formed 1/22/2026) |
| MSVEF II – MF Graces Reserve Member NC LLC | (Delaware) | (MSVEFIIInvestor: 90%) |
| Graces Reserve JV LLC | (Delaware) | (90%) |
| Graces Reserve NC Owner LLC | (Delaware) | (99.9%) |
| NYL Investors NCVAD II GP, LLC | (Delaware) |  |
| McMorgan Northern California Value <br> Add/Development Fund II, LP<br>| (Delaware) | (50%) |
| MNCVAD II-OFC 770 L Street CA LLC | (Delaware) |  |
| MNCVAD II-MF UNION CA LLC | (Delaware) |  |
| MNCVAD II- HOLLIDAY UNION JV LLC | (Delaware) | (90%) |
| MNCVAD II-OFC HARBORS CA LLC | (Delaware) |  |
| MNCVAD II-SEAGATE HARBORS LLC | (Delaware) | **(LLC: 90%)** |
| MNCVAD II-OFC 630 K Street CA LLC | (Delaware) |  |
| MNCVAD II-IND SHILOH CA LLC | (Delaware) |  |
| MNCVAD II-BIG SHILOH JV LLC | (Delaware) | **(90%)** |
| MSSDF GP LLC | (Delaware) |  |
| MSSDF II GP LLC | (Delaware) |  |

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| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| MSSDF II Member LLC<br> (Delaware) | **(NYLIC: 35%, NYLIAC: 65%)** |
| Madison Square Structured Debt Fund II LP<br> (Delaware) |  |
| MSSDF REIT II LLC<br> (Delaware) |  |
| MSSDF Member LLC (Delaware) | **(NYLIC: 35%, NYLIAC: 65%)** |
| Madison Square Structured Debt Fund LP<br> (Delaware) | **(40.4%)** |
| MSSDF REIT LLC<br> (Delaware) |  |
| MSSDF REIT Funding Sub I LLC<br> (Delaware) |  |
| MSSDF REIT Funding Sub II LLC<br> (Delaware) |  |
| MSSDF REIT Funding Sub III LLC<br> (Delaware) |  |
| MSSDF REIT Funding Sub IV LLC<br> (Delaware) |  |
| MSSDF REIT Funding Sub V LLC<br> (Delaware) |  |
| MSSDF REIT Funding Sub VI LLC<br> (Delaware) |  |
| MSSDF REIT Funding Sub VII LLC<br> (Delaware) |  |
| MSSDF-OFCB Voss San Felipe LLC<br> (Delaware) |  |
| MSSDF-OFCB Woodway LLC<br> (Delaware) |  |
| MSSDF-OFCB Hanover LLC<br> (Delaware) |  |
| MSSDF-OFCB El Segundo LLC<br> (Delaware) |  |
| MSSIV GP LLC<br> (Delaware) |  |
| Madison Square Strategic Investments Venture LP<br> (Delaware) | &nbsp;&nbsp; **(MSSIV NYL Investor Member LLC** <br> **51%; TP: 49%)**<br>|
| MSSIV REIT Manager LLC<br> (Delaware) | **(51%)** |
| Madison Square Strategic Investments Venture REIT <br> LLC<br>(Delaware) | **(51%)** |
| MSSIV- MF Country Place MD LLC<br> (Delaware) |  |
| MSSIV-IND Speedway SC LLC<br> (Delaware) | **(NYL: 45:90%, NYLIAC: 5.1%)** |
| NRL Speedway Venture LLC<br> (Delaware) |  |
| SC Speedway Hwy 124, LLC<br> (Delaware) |  |
| MSSIV-IND Speedway Phase II JV SC LLC<br> (Delaware) |  |
| MSSIV-IND Speedway Phase II Member SC LLC<br> (Delaware) |  |
| SC Speedway Grand National, LLC<br> (Delaware) |  |
| MSVEF GP LLC<br> (Delaware) |  |
| MCPF GP LLC<br> (Delaware) |  |
| NYL Investors Madison Core Property Fund LP<br> (Delaware) | &nbsp;&nbsp; **(NYL Investors is Non Member** <br> **Manager 0.00%)**<br>|
| MCPF Holdings Manager LLC<br> (Delaware) |  |
| MCPF MA Holdings LLC<br> (Delaware) |  |
| MCPF Holdings LLC<br> (Delaware) |  |
| MADISON-IND TAMARAC FL LLC<br> (Delaware) |  |
| MADISON-OFC BRICKELL FL LLC<br> (Delaware) |  |
| MADISION-IND POWAY CA LLC<br> (Delaware) |  |
| MADISON-LPC POWAY JV LLC<br> (Delaware) | **(95%)** |
| MADISON-MF GRANARY FLATS TX LLC<br> (Delaware) |  |
| MADISON-AO GRANARY FLATS JV LLC<br> (Delaware) | **(99.999%; TP: 0.0001%)** |
| MADISON-AO GRANARY FLATS OWNER LLC<br> (Delaware) |  |
| MADISON-MF THE MEADOWS WA LLC<br> (Delaware) |  |
| MADISON-ACG THE MEADOWS OWNER LLC<br> (Delaware) |  |
| MADISON-ACG THE MEADOWS JV LLC<br> (Delaware) |  |
| MADISON-MOB Lee Highway VA LLC<br> (Delaware) |  |
| Madison-OFC 5161 CA LLC<br> (Delaware) |  |
| MADISON-SS Kernersville QRS, Inc.<br> (Delaware) |  |
| MADISON-LPP Kernersville JV GP LLC<br> (Delaware) | **(90%, TP: 10%)** |

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| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| MADISON-LPP Kernersville JV LP<br> (Delaware) | **(90%, TP: 10%)** |
| MADISON-LPP Kernersville GP LLC<br> (Delaware) |  |
| MADISON-LPP Kernersville LP<br> (Delaware) |  |
| MADISON-MF Apex Newbury PA LLC<br> (Delaware) |  |
| MCPF-MOB PEMBROKE PINES FL LLC<br> (Delaware) |  |
| MCPF-MF Perimeter Gardens GA LLC<br> (Delaware) |  |
| MADISON-IND LNDR TABOR ROAD NJ LLC<br> (Delaware) |  |
| Madison-MF Yorkshire MD LLC<br> (Delaware) |  |
| Yorkshire Apartments JV LLC<br> (Delaware) | **(90%)** |
| Yorkshire Apartments LP<br> (Delaware) |  |
| MADISON-IND 2080 ENTERPRISE CA LLC<br> (Delaware) |  |
| MADISON-IND CLAWITER CA LLC<br> (Delaware) |  |
| MADISON-REDCO CLAWITER JV LLC<br> (Delaware) | **(95%)** |
| MADISON-IND ENTERPRISE RIALTO CA LLC<br> (Delaware) |  |
| MIREF Mill Creek, LLC<br> (Delaware) |  |
| MIREF Gateway, LLC<br> (Delaware) |  |
| MIREF Delta Court, LLC<br> (Delaware) |  |
| MIREF Fremont Distribution Center, LLC<br> (Delaware) |  |
| MIREF Century, LLC<br> (Delaware) |  |
| MIREF Newpoint Commons, LLC<br> (Delaware) |  |
| MIREF Northsight, LLC<br> (Delaware) |  |
| MIREF Riverside, LLC<br> (Delaware) |  |
| MIREF 101 East Crossroads, LLC<br> (Delaware) |  |
| 101 East Crossroads, LLC<br> (Delaware) |  |
| MIREF Hawthorne, LLC<br> (Delaware) |  |
| MIREF Auburn 277, LLC<br> (Delaware) |  |
| MIREF Sumner North, LLC<br> (Delaware) |  |
| MIREF Wellington, LLC<br> (Delaware) |  |
| MIREF Warner Center, LLC<br> (Delaware) |  |
| MADISON-MF Duluth GA LLC<br> (Delaware) |  |
| MADISON-OFC Centerstone I CA LLC<br> (Delaware) |  |
| MADISON-OFC Centerstone III CA LLC<br> (Delaware) |  |
| MADISON-MOB Centerstone IV CA LLC<br> (Delaware) |  |
| MADISON-OFC Centerpoint Plaza CA LLC<br> (Delaware) |  |
| MADISON-OFC One Main Place OR LLC<br> (Delaware) |  |
| MADISON-MF Hoyt OR LLC<br> (Delaware) |  |
| MADISON-RTL Clifton Heights PA LLC<br> (Delaware) |  |
| MADISON-IND Locust CA LLC<br> (Delaware) |  |
| MADISON-OFC Weston Pointe FL LLC<br> (Delaware) |  |
| MADISON-MF MCCADDEN CA LLC<br> (Delaware) |  |
| MADISON-OFC 1201 WEST IL LLC<br> (Delaware) |  |
| MADISON-MCCAFFERY 1201 WEST IL LLC<br> (Delaware) | **(92.5%)** |
| MADISON-MF TECH RIDGE TX LLC<br> (Delaware) |  |
| MADISON-RTL SARASOTA FL, LLC<br> (Delaware) |  |
| MADISON-MOB CITRACADO CA LLC<br> (Delaware) |  |
| Madison-MF Osprey QRS Inc.<br> (Delaware) |  |
| Madison-MF Osprey NC GP LLC<br> (Delaware) |  |
| Madison-MF Osprey NC LP<br> (Delaware) | **(QRS: 99%; GP/LLC: 1%)** |
| MADISON-SS Crozet VA LLC<br> (Delaware) |  |
| MADISON-LPP Crozet JV LLC<br> (Delaware) |  |
| NYLIM Capital LLC<br> (Delaware) |  |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| Bow River Advisers, LLC | (Delaware) | (49%) |
| NYL Investments Europe Limited | (Ireland) |  |
| NYL Investments (International) Ltd. | (UK) |  |
| NYL Investments (Services) Ltd. | (UK) |  |
| NYL Investments UK LLP | (UK) | (NYLIL: 99%; NYLISL: 1%) |
| New York Life Investment Management Asia Limited | (Cayman Islands) |  |
| Japan Branch |  |  |
| MacKay Shields LLC | (Delaware) |  |
| MacKay Shields Emerging Markets Debt Portfolio | (Delaware) |  |
| MacKay Municipal Managers Opportunities GP LLC | (Delaware) |  |
| MacKay Municipal Opportunities Master Fund, L.P. | (Delaware) |  |
| MacKay Municipal Opportunities Fund, L.P. | (Delaware) |  |
| MacKay Municipal Managers Credit Opportunities GP <br> LLC<br>| (Delaware) |  |
| MacKay Municipal Credit Opportunities Master Fund, <br> L.P.<br>| (Delaware) |  |
| MacKay Municipal Credit Opportunities Fund, L.P. | (Delaware) |  |
| MacKay Municipal Credit Opportunities HL Fund, L.P. | (Delaware) |  |
| MacKay Municipal Short Term Opportunities Fund GP <br> LLC<br>| (Delaware) |  |
| MacKay Municipal Short Term Opportunities Fund LP | (Delaware) |  |
| Plainview Funds plc | (Ireland) | &nbsp;&nbsp; (50%) (MacKay Shields Employee: <br> 50%)<br>|
| Plainview Funds plc – MacKay Shields Strategic Bond <br> Portfolio<br>| (Ireland) | (NYLIC: 0.00%; MacKay: 0.00%) |
| Plainview Funds plc – MacKay Shields Structured <br> Products Opportunities Portfolio<br>| (Ireland) | (NYLIC: 0.00%; MacKay: 0.00%) |
| Plainview Funds plc – MacKay Shields Emerging <br> Markets Debt Portfolio<br>|  | (NYLIC: 99.36%; MacKay: 0.64%) |
| MacKay Shields High Yield Active Core Fund GP LLC | (Delaware) |  |
| MacKay Shields High Yield Active Core Fund LP | (Delaware) |  |
| MacKay Shields Defensive Bond Arbitrage Fund Ltd. | (Bermuda) | (.07%)3 |
| MacKay Shields Core Fixed Income Fund GP LLC | (Delaware) |  |
| MacKay Shields Core Fixed Income Fund LP | (Delaware) |  |
| MacKay Shields Select Credit Opportunities Fund GP <br> LLC<br>| (Delaware) |  |
| MacKay Shields Select Credit Opportunities Fund LP | (Delaware) |  |
| MacKay Municipal Managers California Opportunities <br> GP LLC<br>| (Delaware) |  |
| MacKay Municipal California Opportunities Fund, L.P. | (Delaware) |  |
| MacKay Municipal New York Opportunities GP LLC | (Delaware) |  |
| MacKay Municipal New York Opportunities Fund, L.P. | (Delaware) |  |
| MacKay Municipal Opportunities HL Fund, L.P. | (Delaware) |  |
| MacKay Municipal Capital Trading GP LLC | (Delaware) |  |
| MacKay Municipal Capital Trading Master Fund, L.P. | (Delaware) |  |
| MacKay Municipal Capital Trading Fund, L.P. | (Delaware) |  |
| MacKay Shields Intermediate Bond Fund GP LLC | (Delaware) |  |
| MacKay Shields Intermediate Bond Fund LP | (Delaware) |  |
| MacKay Municipal Managers Opportunities Allocation <br> GP LLC<br>| (Delaware) |  |
| MacKay Municipal Opportunities Allocation Master <br> Fund LP<br>| (Delaware) |  |

---

------

---

| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| MacKay Municipal Opportunities Allocation Fund A LP<br> (Delaware) |  |
| MacKay Municipal Opportunities Allocation Fund B LP<br> (Delaware) |  |
| MacKay Municipal Managers High Yield Select GP LLC<br> (Delaware) |  |
| MacKay Municipal High Yield Select Fund LP<br> (Delaware) |  |
| MacKay Municipal Managers High Income <br> Opportunities GP LLC<br>(Delaware) |  |
| MacKay Municipal High Income Opportunities Fund LP<br> (Delaware) |  |
| MKS Digital Assets LLC<br> (Delaware) |  |
| Candriam Global Emerging Markets Equities Fund LP<br> (Delaware) | (GP: 0.00%; NYLIAC: 0.00%) |
| MacKay Shields Series Fund Managing Member LLC<br> (Delaware) |  |
| MacKay Shields Series Fund<br> (Delaware) |  |
| Securitized Credit Opportunities Series<br> (Delaware) |  |
| High Yield Corporate Bond Series | (NYL: 0%) |
| MacKay Shields Emerging Markets Sovereign Debt <br> Feeder Fund GP LLC<br>(Delaware) |  |
| MacKay Shields Emerging Markets Sovereign Debt <br> Feeder Fund LP<br>(Delaware) |  |
| Apogem Capital LLC fka New York Life Investments <br> Alternatives LLC<br>(Delaware) |  |
| Apogem GP LLC<br> (Delaware) |  |
| Apogem Gannett Opportunity Fund LP<br> (Delaware) |  |
| Apogem SRL 2 LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| Apogem SRL 3 LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| Madison Capital Funding LLC<br> (Delaware) | &nbsp;&nbsp; (NYLIC: 21.90%; NYLIAC 65.64%; <br> LINA 12.46%)<br>|
| MCF Co-Investment GP LLC<br> (Delaware) |  |
| MCF Co-Investment GP LP<br> (Delaware) |  |
| Madison Capital Funding Co-Investment Fund LP<br> (Delaware) |  |
| Madison Avenue Loan Fund GP LLC<br> (Delaware) |  |
| Madison Avenue Loan Fund LP<br> (Delaware) |  |
| MCF Fund I LLC<br> (Delaware) |  |
| MCF Hanwha Fund LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| Ironshore Investment BL I Ltd.<br> (Bermuda)<sup>7</sup> <br>| (0 voting ownership) |
| MCF CLO IV LLC<br> (Delaware)<sup>7</sup> <br>| (NYLIC: 6.7%) |
| MCF CLO V LLC<br> (Delaware)<sup>7</sup> <br>| (NYLIC: 5%) |
| MCF CLO VI LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| MCF CLO VII LLC (f/k/a LMF WF Portfolio III, LLC)<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| MCF CLO VIII Ltd.<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| MCF CLO VIII LLC<br> (Delaware) |  |
| MCF CLO VIII Blocker LLC<br> (Delaware) |  |
| MCF CLO IX Ltd.<br> (Cayman Islands)<sup>7</sup> <br>|  |
| MCF CLO IX LLC<br> (Delaware) |  |
| MCF CLO 10 Ltd.<br> (Bailiwick, Jersey)<sup>7</sup> <br>|  |
| MCF CLO 10 LLC<br> (Delaware) | (Ltd. 100%) |
| MCF CLO IX Blocker LLC<br> (Delaware) |  |
| MFS CLO 10 Blocker LLC<br> (Delaware) |  |
| MCF KB Fund LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| MCF KB Fund II LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| MCF KB Fund III LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| MCF Hyundai Fund LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| Apogem Direct Lending Hyundai Fund 2 LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| Apogem Direct Lending Levered Fund 2023-1 LLC | (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| Apogem Direct Lending Loan Portfolio 2023 LLC | (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| Apogem DL Levered Fund 2023-1 LLC | (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| Apogem DL Levered Fund SPV 2023-1 LLC | (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| Apogem Umbrella | (Cayman Islands)<sup>7</sup> <br>| (0 voting ownership) |
| Apogem US Direct Lending Limited I | (Cayman Islands)<sup>7</sup> <br>| (0 voting ownership) |
| Apogem Direct Lending Nighthawk Fund | (Cayman Islands) | (Apogem initially) |
| MCF Senior Debt Fund 2020 GP LLC | (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| MCF Senior Debt Fund – 2020 LP | (Cayman Islands)<sup>7</sup> <br>| (0 voting ownership) |
| MCF Mezzanine Carry I LLC | (Delaware)<sup>7</sup> <br>|  |
| MCF Mezzanine Fund I LLC | (Delaware) | (NYLIC: 66.66%; NYLIAC: 33.33%) |
| MCF PD Fund GP LLC | (Delaware)<sup>7</sup> <br>|  |
| MCF PD Fund LP | (Delaware)<sup>7</sup> <br>|  |
| MCF Senior Debt Fund 2019-I GP LLC | (Delaware)<sup>7</sup> <br>|  |
| MCF Senior Debt Fund 2019-I LP | (Delaware)<sup>7</sup> <br>|  |
| Apogem Senior Direct Lending Fund GP LLC | (Delaware) |  |
| Apogem Senior Direct Lending Origination Company <br> (O) LP<br>| (Delaware) |  |
| New York Life Capital Partners III GenPar GP, LLC | (Delaware) |  |
| New York Life Capital Partners IV GenPar GP, LLC | (Delaware) |  |
| New York Life Capital Partners IV, L.P | (Delaware) |  |
| GoldPoint Core Opportunities Fund, L.P. | &nbsp;&nbsp; (Delaware Series <br> LP)<br>|  |
| GoldPoint Core Opportunities Fund II L.P. | &nbsp;&nbsp; (Delaware Series <br> LP)<br>|  |
| GoldPoint Mezzanine Partners IV GenPar GP, LLC | (Delaware) |  |
| GoldPoint Mezzanine Partners IV GenPar, LP | (Delaware) |  |
| GoldPoint Mezzanine Partners Co-Investment Fund <br> A, LP<br>| (Delaware) |  |
| GoldPoint Mezzanine Partners IV, LP | (Delaware) | ("GPPIVLP") |
| GPP Mezz IV A Blocker LP | (Delaware) | ("GPPMBA") |
| GPP Mezz IV A Preferred Blocker LP | (Delaware) |  |
| GPP Mezz IV C Blocker LP | (Delaware) | ("GPPMBC") |
| GPP Mezz IV D Blocker LP | (Delaware) | ("GPPMBD") |
| GPP Mezz IV ECI Aggregator LP name change from <br> GPP Mezzanine Blocker E, LP<br>| (Delaware) |  |
| GPP Mezz IV F Blocker LP | (Delaware) |  |
| GPP Mezz IV G Blocker LP | (Delaware) |  |
| GPP Mezz IV H Blocker LP | (Delaware) |  |
| GPP Mezz IV I Blocker LP | (Delaware) |  |
| GoldPoint Mezzanine Partners Offshore IV, L.P. | (Cayman Islands) |  |
| GoldPoint Partners Co-Investment V GenPar GP LLC | (Delaware) |  |
| GoldPoint Partners Co-Investment V GenPar, LP | (Delaware) |  |
| GoldPoint Partners Co-Investment Fund A, LP | (Delaware) |  |
| GPP V – ECI Aggregator LP | (Delaware) |  |
| GPP V G Blocker Holdco LP | (Delaware) |  |
| GoldPoint Partners Private Debt V GenPar GP, LLC | (Delaware) |  |
| GoldPoint Partners Private Debt Offshore V, LP | (Cayman Islands) |  |
| GPP Private Debt V RS LP | (Delaware) |  |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| GoldPoint Partners Private Debt V GenPar, LP | (Delaware) |  |
| GoldPoint Partners Private Debt V, LP | (Delaware) |  |
| GPP PD V A Blocker LLC | (Delaware) |  |
| GPP Private Debt V-ECI Aggregator LP | (Delaware) |  |
| GPP PD V B Blocker LLC | (Delaware) |  |
| GPP PD V D Blocker LLC | (Delaware) |  |
| GPP LuxCo V GP Sarl | (Luxembourg) |  |
| GoldPoint Partners Select Manager III GenPar GP, LLC | (Delaware) |  |
| GoldPoint Partners Select Manager III GenPar, L.P. | (Cayman Islands) |  |
| GoldPoint Partners Select Manager Fund III, L.P. | (Cayman Islands) |  |
| GoldPoint Partners Select Manager Fund III AIV, L.P. | (Delaware) |  |
| GoldPoint Partners Select Manager IV GenPar, GP, LLC | (Delaware) |  |
| GoldPoint Partners Select Manager IV GenPar, L.P. | (Delaware) |  |
| GoldPoint Partners Select Manager Fund IV, L.P. | (Delaware) |  |
| GoldPoint Partners Select Manager V GenPar GP, LLC | (Delaware) |  |
| GoldPoint Partners Select Manager V GenPar, L.P. | (Delaware) |  |
| GoldPoint Partners Select Manager Fund V, L.P. | (Delaware) |  |
| GoldPoint Partners Canada V GenPar Inc. | &nbsp;&nbsp; (New Brunswick, <br> Canada)<br>|  |
| GoldPoint Partners Select Manager Canada Fund V, <br> L.P.<br>| (Ontario, Canada) |  |
| GoldPoint Partners Canada III GenPar Inc. | (Canada) |  |
| GoldPoint Partners Select Manager Canada Fund III, <br> L.P.<br>| (Canada) |  |
| GoldPoint Partners Canada IV GenPar Inc. | (Canada) |  |
| GoldPoint Partners Select Manager Canada Fund IV, <br> L.P.<br>| (Canada) |  |
| GPP VI - ECI Aggregator LP | (Delaware) |  |
| GPP VI Blocker A LLC | (Delaware) |  |
| GPP VI Blocker B LLC | (Delaware) |  |
| GPP VI Blocker C LLC | (Delaware) |  |
| GPP VI Blocker D LLC | (Delaware) |  |
| GPP VI Blocker E LLC | (Delaware) |  |
| GPP VI Blocker F LLC | (Delaware) |  |
| GPP VI Blocker | (Delaware) |  |
| GPP VI Blocker H LLC | (Delaware) |  |
| GPP VI Blocker I LLC | (Delaware) |  |
| Apogem CO-Invest VII GenPar, GP LLC | (Delaware) |  |
| Apogem Co-Invest VII GenPar LP | (Delaware) |  |
| Apogem Co-Investment VII, LP | (Delaware) |  |
| GoldPoint Partners Canada GenPar, Inc. | (Canada) |  |
| NYLCAP Canada II GenPar Inc. | (Canada) |  |
| NYLCAP Select Manager Canada Fund II, L.P. | (Canada) |  |
| NYLIM Mezzanine Partners II GenPar GP, LLC | (Delaware) |  |
| NYLIM Mezzanine Partners II GenPar, LP | (Delaware) |  |
| NYLCAP Mezzanine Partners III GenPar GP, LLC | (Delaware) |  |
| NYLCAP Mezzanine Partners III GenPar, LP | (Delaware) |  |
| NYLCAP Mezzanine Partners III, LP | (Delaware) |  |
| NYLCAP Mezzanine Offshore Partners III, L.P. | (Cayman Islands) |  |
| NYLCAP Select Manager GenPar, LP | (Delaware) |  |

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------

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| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| NYLCAP Select Manager II GenPar GP, LLC | (Delaware) |  |
| NYLCAP Select Manager II GenPar, L.P. | (Cayman Islands) |  |
| NYLCAP Select Manager Fund II, L.P. | (Cayman Islands) |  |
| NYLCAP India Funding LLC | (Delaware) |  |
| NYLIM-JB Asset Management Co. (Mauritius) LLC | (Mauritius) | (24.66%)4 |
| New York Life Investment Management India Fund II, <br> LLC<br>| (Mauritius) |  |
| New York Life Investment Management India Fund <br> (FVCI) II, LLC<br>| (Mauritius) |  |
| NYLCAP India Funding III LLC | (Delaware) |  |
| NYLIM-Jacob Ballas Asset Management Co. III, LLC | (Mauritius) | (24.66%)5 |
| NYLIM Jacob Ballas India Fund III LLC | (Mauritius) |  |
| NYLIM Jacob Ballas India (FVCI) III LLC | (Mauritius) |  |
| NYLIM Jacob Ballas India (FII) III LLC | (Mauritius) |  |
| Evolvence Asset Management, Ltd. | (Cayman Islands) | (Apogem: 24.5%) |
| EIF Managers Limited | (Mauritius) | (58.72%) |
| EIF Managers II Limited | (Mauritius) | (55%) |
| AHF V ECI Aggregator LP | (Delaware) | (1%) |
| AHF V GenPar GP LLC | (Delaware) | (100%) |
| AHF V GenPar LP | (Delaware) | (1%) |
| AHF VI ECI Aggregator LP | (Delaware) | (1%) |
| AHF VI GenPar GP LLC | (Delaware) | (100%) |
| AHF VI GenPar LP | (Delaware) | (100%) |
| Apogem Heritage Fund V LP | (Delaware) | (1%) |
| Apogem Heritage Fund VI LP | (Delaware) | (1%) |
| Apogem Cardinal Co-Investment GP LLC | (Delaware) |  |
| Apogem Cardinal Co-Investment Fund, LP | (Delaware) |  |
| ARAF IV GP, LLC | (Delaware) |  |
| Apogem Real Assets Fund IV, LP | (Delaware) |  |
| ASF VII GP, LLC | (Delaware) |  |
| Apogem Secondary Fund VII, LP | (Delaware) |  |
| Apogem Secondary Fund VII Coinvestments, LP | (Delaware) |  |
| Apogem Secondary Fund VII (Cayman) LP | (Cayman Islands) |  |
| BFO GP, LLC | (Delaware) |  |
| BFO Apogem Private Markets LP | (Delaware) |  |
| Tetra Opportunities Partners | (Delaware) | (DE Series) |
| BMG PAPM GP, LLC | (Delaware) |  |
| BMG PA Private Markets (Delaware) LP | (Delaware) |  |
| BMG Private Markets (Cayman) LP | (Cayman Islands) |  |
| Private Advisors Special Situations LLC | (Delaware)<sup>7</sup> <br>|  |
| PACD MM, LLC | (Delaware) |  |
| PA Capital Direct, LLC | (Delaware)<sup>7</sup> <br>|  |
| ApCap Strategic Partnership I LLC | (Delaware) |  |
| PA Credit Program Carry Parent, LLC | (Delaware) |  |
| PA Credit Program Carry, LLC | (Delaware) |  |
| PACIF GP, LLC | (Delaware) |  |
| Private Advisors Coinvestment Fund, LP | (Delaware) |  |
| PACIF II GP, LLC | (Delaware) |  |
| Private Advisors Coinvestment Fund II, LP | (Delaware) |  |
| PACIF II Carry Parent, LLC | (Delaware) |  |
| PACIF II Carry, LLC | (Delaware) |  |

---

------

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| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| PACIF III GP, LLC | (Delaware) |  |
| Private Advisors Coinvestment Fund III, LP | (Delaware) |  |
| PACIF III Carry Parent, LLC | (Delaware) |  |
| PACIF III Carry, LLC | (Delaware) |  |
| PACIF IV GP, LLC | (Delaware) |  |
| Private Advisors Coinvestment Fund IV, LP | (Delaware) |  |
| PACIF IV Carry Parent, LLC | (Delaware) |  |
| PACIF IV Carry, LLC | (Delaware) |  |
| PAMMF GP, LLC | (Delaware) |  |
| PA Middle Market Fund, LP | (Delaware) |  |
| PASCBF IV GP, LLC | (Delaware) |  |
| PASCBF V GP, LLC | (Delaware) |  |
| Private Advisors Small Company Buyout Fund V, LP | (Delaware) |  |
| PASCPEF VI Carry Parent, LLC | (Delaware) |  |
| PASCPEF VI Carry, LLC | (Delaware) |  |
| PASCPEF VI GP, LLC | (Delaware) |  |
| Private Advisors Small Company Private Equity Fund <br> VI, LP<br>| (Delaware) |  |
| Private Advisors Small Company Private Equity Fund <br> VI (Cayman), LP<br>| (Cayman Islands) |  |
| PASCPEF VII GP, LLC | (Delaware) |  |
| Private Advisors Small Company Private Equity Fund <br> VII, LP<br>| (Delaware) |  |
| Private Advisors Small Company Private Equity Fund <br> VII (Cayman), LP<br>| (Cayman Islands) |  |
| PASCPEF VII Carry Parent, LLC | (Delaware) |  |
| PASCPEF VII Carry, LLC | (Delaware) |  |
| PASCPEF VIII GP, LLC | (Delaware) |  |
| Private Advisors Small Company Private Equity Fund <br> VIII, LP<br>| (Delaware) |  |
| Private Advisors Small Company Private Equity Fund <br> VIII (Cayman), LP<br>| (Cayman Islands) |  |
| PASCPEF IX GP, LLC | (Delaware) |  |
| PA Small Company Private Equity Fund IX, LP | (Delaware) |  |
| PA Small Company Private Equity Fund IX, (Cayman), <br> LP<br>| (Cayman Islands) |  |
| APEF X GP, LLC | (Delaware) |  |
| Apogem Private Equity Fund X, LP fka [PA] Private <br> Equity Fund X, LP<br>| (Delaware) |  |
| Apogem Private Equity Fund X (Cayman) LP | (Cayman Islands) |  |
| APEF XI GP, LLC | (Delaware) |  |
| Apogem Private Equity Fund XI (Cayman) LP | (Cayman Islands) |  |
| Apogem Private Equity Fund XI, LP | (Delaware) |  |
| APEF XI Multi-Asset, LP | (Delaware) |  |
| APEF XI Directs, LP | (Delaware) |  |
| Cuyahoga Capital Partners IV Management Group LLC | (Delaware) |  |
| Cuyahoga Capital Partners IV LP | (Delaware) |  |
| Cuyahoga Capital Emerging Buyout Partners <br> Management Group LLC<br>| (Delaware) |  |
| Cuyahoga Capital Emerging Buyout Partners LP | (Delaware) |  |
| PA Real Assets Carry Parent, LLC | (Delaware) |  |
| PA Real Assets Carry, LLC | (Delaware) |  |

---

------

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| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| PA Real Assets Carry Parent II, LLC | (Delaware) |  |
| PA Real Assets Carry II, LLC | (Delaware) |  |
| PA Emerging Manager Carry Parent, LLC | (Delaware) |  |
| PA Emerging Manager Carry, LLC | (Delaware) |  |
| PA Emerging Manager Carry Parent II, LLC | (Delaware) |  |
| PA Emerging Manager Carry II, LLC | (Delaware) |  |
| RIC I GP, LLC | (Delaware) |  |
| Richmond Coinvestment Partners I, LP | (Delaware) |  |
| RIC I Carry Parent, LLC | (Delaware) |  |
| RIC I Carry, LLC | (Delaware) |  |
| PASF V GP, LLC | (Delaware) |  |
| Private Advisors Secondary Fund V, LP | (Delaware) |  |
| ABC Burgers LLC | (Delaware) |  |
| PASF V Carry, LLC | (Delaware) |  |
| PASF V Carry Parent, LLC | (Delaware) |  |
| PASF VI GP, LLC | (Delaware) |  |
| PA Secondary Fund VI, LP | (Delaware) |  |
| PA Secondary Fund VI Coinvestments, LP | (Delaware) | (68.14%) |
| PA Secondary Fund VI (Cayman), LP | (Cayman Islands) | (68.14%) |
| PARAF GP, LLC | (Delaware) |  |
| Private Advisors Real Assets Fund, LP | (Delaware) |  |
| PARAF Carry Parent, LLC | (Delaware) |  |
| PARAF Carry, LLC | (Delaware) |  |
| PASCCIF GP, LLC | (Delaware) |  |
| Private Advisors Small Company Coinvestment Fund, <br> LP<br>| (Delaware) |  |
| Private Advisors Small Company Coinvestment <br> Fund-ERISA, LP<br>| (Delaware) |  |
| PASCCIF II GP, LLC | (Delaware) |  |
| PA Small Company Coinvestment Fund II, LP | (Delaware) |  |
| PA Small Company Coinvestment Fund II (Cayman), <br> LP<br>| (Cayman Islands) |  |
| PASCCIF Carry Parent, LLC | (Delaware) |  |
| PASCCIF Carry, LLC | (Delaware) |  |
| PARAF II GP, LLC | (Delaware) |  |
| Private Advisors Real Assets Fund II, LP | (Delaware) |  |
| PA Contract Resources, LLC | (Delaware) |  |
| PARAF III GP, LLC | (Delaware) |  |
| PA Real Assets Fund III, LP | (Delaware) |  |
| SAF GP LLC | (Delaware) |  |
| Social Advancement Fund, LP | (Delaware) |  |
| Washington Pike GP, LLC | (Delaware) |  |
| Washington Pike, LP | (Delaware) |  |
| RLP Fund GP, LLC | (Delaware) |  |
| RLP Fund, LP ("RLPLP") | (Delaware) |  |
| RidgeLake Co-Investment Partners, LP ("RLPCOLP") | (Delaware) |  |
| RLP Glacier Manager Investor LLC | (Delaware) | (RLPLP: 72%, RLPCOLP: 28%) |
| RLP Glacier GP Investor LLC | (Delaware) | (RLPLP: 72%, RLPCOLP: 28%) |
| RLP Evergreen LLC | (Delaware) | (RLPLP: 72%, RLPCOLP: 28%) |
| RLP Gemini LLC | (Delaware) |  |
| RLP Navigator LLC | (Delaware) |  |

---

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| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| RLP Sigma LLC<br> (Delaware) |  |
| RLP Sunrise GP Investor LLC<br> (Delaware) | &nbsp;&nbsp; (RLPLP: 83.33%, RLPCOLP: <br> 16.66%)<br>|
| RLP Sunrise Manager Investor LLC<br> (Delaware) | &nbsp;&nbsp; (RLPLP: 83.33%, RLPCOLP: <br> 16.66%)<br>|
| RLP Triple GP Investor LLC<br> (Delaware) | &nbsp;&nbsp; (RLPLP: 82.01%, RLPCOLP: <br> 17.98%)<br>|
| RLP Triple Manager Investor LLC<br> (Delaware) | &nbsp;&nbsp; (RLPLP: 82.01%, RLPCOLP: <br> 17.98%)<br>|
| RLP Fund II GP LLC<br> (Delaware) |  |
| RLP Fund II LP<br> (Delaware) |  |
| RLP Profit Share (PA), LLC<br> (Delaware) | (NYLIC: 51%, Employees: 49%) |
| RLP Profit Share (OAPC), LLC<br> (Delaware) | (TP: 100%) |
| The Hedged Strategies Fund LLC<br> (Delaware) | &nbsp;&nbsp; (Apogem: 2%, Ex-employees: 98% <br> non-managing members)<br>|
| NYLCAP Holdings (Mauritius) |  |
| Jacob Ballas India Private Limited<br> (Mauritius) | (23.30%) |
| Industrial Assets Holdings Limited<br> (Mauritius) | (28.02%) |
| JB Cerestra Investment Management LLP<br> (Mauritius) |  |
| NYLIM Service Company LLC<br> (Delaware) |  |
| NYL Workforce GP LLC<br> (Delaware) |  |
| New York Life Investment Management LLC<br> (Delaware) |  |
| NYLIM Fund II GP, LLC<br> (Delaware) |  |
| WFHG GP, LLC<br> (Delaware) | (50%) |
| Workforce Housing Fund I-2007 LP<br> (Delaware) | (50%) |
| IndexIQ Holdings LLC<br> (Delaware) | ("IQ Holdings") |
| IndexIQ LLC<br> (Delaware) | &nbsp;&nbsp; (NYLIMH: 74.37%, IQHoldings: <br> 25.63%)<br>|
| IndexIQ Trust<br> (Delaware) | (Dormant) |
| IndexIQ Advisors LLC<br> (Delaware) |  |
| New York Life Investments Active ETF Trust<br> (Delaware)<sup>7</sup> <br>| (NYLIAC: 98.5%) |
| NYLI CBRE Real Assets ETF | (NYLIM: 82.10%) |
| NYLI MacKay Muni Insured ETF | (NYL: 0.00%) |
| NYLI MacKay Muni Intermediate ETF | (NYL: 0.00%) |
| NYLI MacKay Core Plus Bond ETF | (NYLIM: 93.07%) |
| NYLI MacKay California Muni Intermediate ETF | (NYLIM: 14.70%; NYLIAC: 36.60%) |
| NYLI MacKay ESG High Income ETF | (NYLIM: 98.90%) |
| NYLI Winslow Focused Large Gap Growth ETF | (NYLIM: 78.00%) |
| NYLI Winslow Large Gap Growth ETF | (NYLIM: 18.20%) |
| NYLI MacKay Securitized Income ETF | (NYLIM: 78.10%, NYLIAC: 16.00%) |
| NYLI MacKay Muni Short Duration ETF | (NYLIAC: 86.90%) |
| NYLI MacKay Muni Allocation ETF | (NYLIM: 99.60%) |
| New York Life Investments ETF Trust<br> (Delaware) | (NYLIC: 10.2%) |
| NYLI 500 International ETF | (NYLIM: 53.62%) |
| NYLI Engender Equality ETF | (NYLIAC: 72.81%) |
| NYLI FTSE International Equity Currency Neutral <br> ETF<br>| (NYLIM: 8.97%) |
| NYLI Global Equity R&D Leaders ETF | (NYLIM: 84.30%) |
| NYLI Healthy Hearts ETF | (NYLIM: 66.50%) |
| NYLI Hedge Multi-Strategy Tracker ETF | (NYL: 0.00%) |
| NYLI Merger Arbitrage ETF | (NYL: 0.00%) |

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| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| NYLI CRBE NexGen Real Estate ETF | (NYLIM: 56.52%) |
| NYLI Candriam International Equity ETF | (NYLIM: 77.90%) |
| NYLI Candriam U.S. Mid Cap Equity ETF | (NYLIM: 96.70%) |
| NYLI Candriam U.S. Large Cap Equity ETF | (NYLIM: 86.40%) |
| NYLI U.S. Large Cap R&D Leaders ETF | (NYLIM: 95.90%) |
| New York Life Investment Management Holdings <br> International<br>(Luxembourg) |  |
| New York Life Investment Management Holdings II <br> International<br>(Luxembourg) |  |
| Candriam Group ("CG")<br> (Luxembourg) |  |
| KTA Holdco<br> (Luxembourg) | &nbsp;&nbsp; (CANLUX: 66.67%, Apogem: <br> 33.33%)<br>|
| Kartesia Management S.a.r.l.<br> (Luxembourg) | (80%) |
| Kartesia Italy Branch<br> (Scotland) |  |
| Kartesia Spain Branch<br> (Scotland) |  |
| Kartesia Netherlands Branch<br> (Scotland) |  |
| Kartesia Germany Branch<br> (Scotland) |  |
| Kartesia France<br> (France) |  |
| Kartesia UK Ltd.<br> (UK) |  |
| Kartesia Belgium<br> (Belgium) |  |
| Kartesia Credit FFS<br> (France) |  |
| Kartesia GP III<br> (Luxembourg) |  |
| Kartesia Credit Opportunities III S.C.A., <br> SICAV-SIF<br>(Luxembourg) |  |
| Kartesia Securities<br> (Luxembourg) |  |
| Kartesia III Topco S.á.r.l.<br> (Luxembourg) |  |
| Kartesia GP IV<br> (Luxembourg) |  |
| Kartesia Credit Opportunities IV SCS SICAV-SIF<br> (Luxembourg) |  |
| Kartesia Securities IV<br> (Luxembourg) |  |
| Kartesia IV Topco S.á.r.l.<br> (Luxembourg) |  |
| Kartesia Master GP<br> (Luxembourg) |  |
| Kartesia Credit Opportunities V Feeder SCS<br> (Luxembourg) |  |
| Kartesia Senior Opportunities I SCS, SICAV-RAIF<br> (Luxembourg) |  |
| KASS Unleveled S.á.r.l.<br> (Luxembourg) |  |
| KSO I Topco S.á.r.l.<br> (Luxembourg) |  |
| Kartesia Credit Opportunities V SCS<br> (Luxembourg) |  |
| Kartesia Securities V S.á.r.l.<br> (Luxembourg) |  |
| Kartesia Credit Opportunities VI Feeder SCS<br> (Luxembourg) |  |
| Kartesia Credit Opportunities VI SCS<br> (Luxembourg) |  |
| Kartesia Securities VI SCS S.á.r.l.<br> (Luxembourg) |  |
| Kartesia VI Topco S.á.r.l.<br> (Luxembourg) |  |
| Flexam Invest Asset Management<br> (France) | (51%) |
| FIAM HLD SAS<br> (France) |  |
| Flexam Invest France Management SAS<br> (France) |  |
| Flexam Tangible Asset Income Fund II SLP<br> (France) |  |
| Flexam Invest Lux Management S.á.r.l.<br> (Luxembourg) |  |
| Flexam Tangible Asset Income Fund S.C.A., <br> SICAV-RAIF<br>(Luxembourg) |  |
| Flexam Invest Operations S.á.r.l.<br> (Luxembourg) |  |
| Candriam Luxco S.a.r.l.<br> (Luxembourg) | ("CANLUXS") |

---

------

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| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| Candriam | (Luxembourg) | &nbsp;&nbsp; ("CANLUX") (CG: 64%; I share held <br> by CANLUXS)<br>|
| Candriam Belgian Branch |  |  |
| Candriam France Branch |  |  |
| Candriam UK Establishment |  |  |
| Candriam Germany Branch |  |  |
| Candriam US Branch |  |  |
| Candriam Spain Branch |  |  |
| Candriam Netherlands Branch | (Luxembourg) |  |
| Candriam MENA Branch | (Dubai, UAE) |  |
| Candriam Nordic Branch | (Sweden) |  |
| Candriam Monétaire SICAV | (France) | (CIG: 0.10%) |
| Candriam Switzerland LLC | (Switzerland) |  |
| Candriam GP | (Luxembourg) |  |
| Candriam Tristan Real Estate Fund (RAIF) | (Luxembourg) |  |
| Candriam GP PA | (Luxembourg) |  |
| Candriam Private Assets | (Luxembourg) |  |
| Candriam Private Assets – Kartesia Credit <br> ELTIF<br>| (Luxembourg) |  |
| ATA Holdco Luxembourg S.á.r.l. | (Luxembourg) | &nbsp;&nbsp; (Candriam: 66.7%, Apogem Capital <br> LLC: 33.3%)<br>|
| Andera Partners | (France) | (ATA Holdco: 40%) |
| Andera Expansion GP | (France) |  |
| Andera Expansion 3 S.L.P. | (France) |  |
| ANDERA EXPANSION 4 S.L.P | (France) |  |
| Andera Smart Infra GP | (France) |  |
| ANDERA SMART INFRA 1 S.L.P | (France) |  |
| ANDERA SMART INFRA 2 S.L.P | (France) |  |
| ANDERA SMART INFRA REMPLOI <br> S.L.P<br>| (France) |  |
| Terra Nea 1 GP | (France) |  |
| TERRA NEA 1 SLP | (France) |  |
| Andera MidCap GP | (France) |  |
| Andera MidCap GP 5 S.L.P. | (France) |  |
| Andera MidCap GP 6 S.L.P.S. | (France) |  |
| Acto V GP | (France) |  |
| ACTO V S.L.P. | (France |  |
| ACI GP | (France |  |
| ACI II S.L.P. | (France) |  |
| ACI Vintage II S.L.P. | (France) |  |
| ACI Vintage III S.L.P. | (France) |  |
| ACI I, SCA SICAV-FIAR | (Luxembourg) |  |
| Rio Holding Secondary | (France) |  |
| Andera Partners España SL | (Spain) |  |
| Belfius Fund | (Luxembourg) |  |
| Belfius Fund Target Income 2032 |  | (0.00%) |
| Belfius Equities | (Belgian) | (0.00%) |
| IZNES SAS | (Luxembourg) | (2%) |
| Belfius Investment Partners | (Luxembourg) | (0.01%) |
| S.W.I.F.T. SCRL | (Luxembourg) | (0.02%) |
| Cordius | (Luxembourg) | (CANLUX: 11.50%) |

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| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| Cordius CIG | (CANLUX: 100%) |
| Candriam Absolute Return<br> (Luxembourg) | (CIG: 0.35%) |
| Candriam Absolute Return Equity Market Neutral<br> (Lux) | (0.00%) |
| Candriam Bonds<br> (Luxembourg) |  |
| Candriam Bonds Capital Securities | (CIG: .0.001%) |
| Candriam Bonds Convertible Defensive | (0.00%) |
| Candriam Bonds Convertible Opportunities | (0.00%) |
| Candriam Bonds Credit Alpha | (0.00%) |
| Candriam Bonds Credit Opportunities | (0.00%) |
| Candriam Bonds Emerging Debt Local <br> Currencies<br>| (CIG: 0.01%) |
| Candriam Bonds Emerging Markets | (0.01%) |
| Candriam Bonds Emerging Corporate | (CIG: 0.02%) |
| Candriam Bonds Emerging Markets Total Return | (CIG: 0.01%) |
| Candriam Bonds Euro | (0.00%) |
| Candriam Bonds Euro Corporate | (0.00%) |
| Candriam Bonds Euro Corporate 2036 | (CIG: 0.02%) |
| Candriam Bonds Euro Corporate Ex Financials | (0.00%) |
| Candriam Bonds Euro Diversified | (0.00%) |
| Candriam Bonds Euro Government | (0.00%) |
| Candriam Bonds Euro High Yield | (CIG: 0.08%) |
| Candriam Bonds Euro Short Term | (0.00%) |
| Candriam Bonds Euro Long Term | (CIG: 0.02%) |
| Candriam Bonds Floating Rate Notes | (0.00%) |
| Candriam Bonds Global Government | (0.00%) |
| Candriam Bonds Global High Yield | (0.00%) |
| Candriam Bonds Global Inflation Short Duration | (0.00%) |
| Candriam Bonds Global Sovereign Quality | (0.00%) |
| Candriam Bonds International | (CIG: 0.02%) |
| Candriam Bonds Total Return | (CIG: 0.01%) |
| Candriam Bonds US Corporate | (CIG: 0.00%) |
| Candriam Business Equities<br> (Belgium) | (0.00%) |
| Candriam Business Equities EMU | (0.00%) |
| Candriam Business Equities Global Income | (0.00%) |
| Candriam Diversified Futures | (CIG: 0.02%) |
| Candriam Equities L<br> (Luxembourg) | (NYLIAC: 0.35%; CIG: 0.02%) |
| Candriam Equities L Qustralia | (CIG: 0.01%) |
| Candriam Equities L Biotechnology | (0.00%) |
| Candriam Equities L Emerging Markets | (0.00%) |
| Candriam Equities L EMU | (CIG: 0.02%) |
| Candriam Equities L ESG Market Neutral Edge | (NYLIAC: 95.86%; CIG: 0.03%) |
| Candriam Equities L Europe | (CIG: 0.02%) |
| Candriam Equities L Europe Edge | (CIG: 0.01%) |
| Candriam Equities L Europe Innovation | (0.01%) |
| Candriam Equities L Europe Optimum Quality | (CIG: 0.01%) |
| Candriam Equities L European Autonomy | (CIG: 100%) |
| Candriam Equities L Global Demography | (0.00%) |
| Candriam Equities L Global Income | (CIG: 0.04%) |
| Candriam Equities L Japan Edge | (CIG: 0.01%) |
| Candriam Equities L Life Care | (0.00%) |
| Candriam Equities Merger Arbitrage | (CIG: 0.02%) |

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| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| Candriam Equities L Oncology Impact | (0.00%) |
| Candriam Equities L Risk Arbitrage Opportunities | (CIG: 0.03%) |
| Candriam Equities L Robotics & Innovation <br> Technology<br>| (0.00%) |
| Candriam Equities L US Edge | (CIG: 0.00%) |
| Candriam Equities L World Edge | (NYLIAC: 60.69%; CIG: 0.03%) |
| Candriam Fund<br> (Luxembourg) | (0.00%) |
| Candriam Fund Sustainable Euro Corporate <br> Bonds Fossil Free<br>| (0.00%) |
| Candriam Fund Sustainable European Equities <br> Fossil Free<br>| (0.00%) |
| Candriam Impact One<br> (Luxembourg) | (NYLIAC: 30.62%) |
| Candriam Index Arbitrage<br> (Luxembourg) | (0.00%) |
| Candriam L<br> (Luxembourg) | (CIG: .01%) |
| Candriam L Alternative Multi-Strategies | (CIG: .04%) |
| Candriam L Balanced Asset Allocation | (0.00%) |
| Candriam L Conservative Asset Allocation | (0.00%) |
| Candriam L Dynamic Asset Allocation | (CIG: .15%) |
| Candriam L Multi-Asset Income | (0.00%) |
| Candriam L Multi-Asset Income & Growth | (CIG: 0.01%) |
| Candriam Long Short Credit | (0.00%) |
| Candriam M | (CIG: 12.27%) |
| Candriam M Impact Finance | (CIG: 12.27%) |
| Candriam Money Market<br> (Luxembourg) | (CIG: 0.29%) |
| Candriam Money Market Euro | (CIG: 0.15%) |
| Candriam Money Market Euro AAA | (0.44%) |
| Candriam Money Market USD Sustainable | (CIG: 0.00%) |
| Candriam Patrimoine Obli-Inter<br> (Luxembourg) | (0.00%) |
| Candriam Private Assets | (NYLIAC: 78.74%) |
| Candriam Private Assets – Kartesia Credit | (NYLIAC: 78.74%) |
| Candriam Risk Arbitrage<br> (Luxembourg) | (CIG: 9.03%) |
| Candriam Sustainable<br> (Luxembourg) | (CIG: 0.02%) |
| Candriam Sustainable Bond Emerging Markets | (0.00%) |
| Candriam Sustainable Bond Euro | (0.00%) |
| Candriam Sustainable Bond Euro Corporate | (0.00%) |
| Candriam Sustainable Bond Euro Short Term | (0.00%) |
| Candriam Sustainable Bond Global | (CIG: 0.04%) |
| Candriam Sustainable Bond Global High Yield | (0.00%) |
| Candriam Sustainable Bond Impact | (NYLIAC: 5.89%) |
| Candriam Sustainable Defensive Asset Allocation | (CIG: 0.01%) |
| Candriam Sustainable Equity Children | (CIG: 0.01%) |
| Candriam Sustainable Equity Circular Economy | (0.00%) |
| Candriam Sustainable Equity Climate Action | (0.00%) |
| Candriam Sustainable Emerging Markets | (0.00%) |
| Candriam Sustainable Emerging Markets <br> Ex-China<br>| (CIG: 0.01%) |
| Candriam Sustainable Equity EMU | (0.00%) |
| Candriam Sustainable Equity Europe | (0.00%) |
| Candriam Sustainable Equity Europe Small & <br> Mid Caps<br>| (CIG: 0.01%) |
| Candriam Sustainable Equity Future Mobility | (CIG: 0.01%) |

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| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| Candriam Sustainable Equity Equity Japan |  | (0.00%) |
| Candriam Sustainable Equity Quant Europe |  | (0.00%) |
| Candriam Sustainable Equity US |  | (CIG: 0.01%) |
| Candriam Sustainable Equity Water |  | (CIG: 90.07%) |
| Candriam Sustainable Equity World |  | (0.00%) |
| Candriam Sustainable Money Market Euro |  | (0.00%) |
| Candriam World Alternative | (Luxembourg) | (CIG: 13.14%) |
| Candriam World Alternative Alphamax |  | (CIG: 13.16%) |
| Cleome Index | (Luxembourg) | (0.00%) |
| Cleome Index EMU Equities |  | (0.00%) |
| Cleome Index Euro Corporate Bonds |  | (0.00%) |
| Cleome Index Euro Government Bonds |  | (0.00%) |
| Cleome Index Euro Long Term Bonds |  | (0.14%) |
| Cleome Index Euro Short Term Bonds |  | (CIG: 0.01%) |
| Cleome Index Europe Equities |  | (0.00%) |
| Cleome Index USA Equities |  | (0.00%) |
| Cleome Index World Equities |  | (CIG: 0.01%) |
| NYLI GF | (Luxembourg) | &nbsp;&nbsp; (NYLIMH: 16.61%; NYLIAC: 27.84%; <br> CIG: 0.02%)<br>|
| NYLI GF AUSBIL Global Essential Infrastructure |  | (NYLIMH: 12.23%; NYLIAC: 49.47%) |
| NYLI GF AUSBIL Global Small Cap |  | (NYLIMH: 99.15%; CIG: 0.02%) |
| NYLI GF US High Yield Corporate Bonds |  | (NYLIMH: 0.00%; CIG: 0.04%) |
| Paricor | (Belgium) | (CIG: 0.07%) |
| Paricor Patrimonium | (Belgium) | (CIG: 0.07%) |
| IndexIQ |  | (CIG: 0.48%) |
| IndexIQ Factors Sustainable Corporate Euro <br> Bond<br>|  | (CIG: 0.48%) |
| IndexIQ Factors Sustainable Europe Equity |  | (CIG: 0.63%) |
| IndexIQ Factors Sustainable Japane Equity |  | (CIG: 0.26%) |
| CGH UK Acquisition Company Limited | (UK) |  |
| Tristan (Holdings) Limited | (UK) |  |
| EPISO 3 Feeder (GP) Limited | (Scotland) | (40%) |
| EPISO 3 Feeder LP | (Scotland) |  |
| Tristan Equity Partners (GP) Limited | (UK) |  |
| Tristan Equity Partners LP | (UK) |  |
| Tristan Capital Partners Holdings Limited ("TCPH") | (England & Wales) | (80%) (Tristan Partners LP: 20%) |
| EPISO 3 Co-Investment (GP) Limited | (Scotland) |  |
| EPISO 3 Co-Investment LP | (Scotland) |  |
| TIPS One Co-Investment GP Sarl | (Luxembourg) |  |
| TIPS Co-Investment SCSp | (Luxembourg) |  |
| TCP Incentive Partners (GP) Sarl | (Luxembourg) |  |
| TCP Incentive Partners SCSp | (Luxembourg) |  |
| TCP Co-Investment (GP) Sarl | (Luxembourg) |  |
| TCP Co-Investment SCSp | (Luxembourg) |  |
| CCP III Co-Investment (GP) Limited | (Scotland) |  |
| CCP III Co-Investment LP | (United Kingdom) |  |
| CCP IV Co-Investment LP | (Scotland) |  |
| EPISO 4 Co-Investment LLP | (United Kingdom) |  |
| EPISO 4 (GP) LLP | (United Kingdom) |  |
| EPISO 4 Incentive Partners LLP | (England & Wales) | (4.7%) |
| CCP 5 Co-Investment LLP | (England & Wales) | (100%) |

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| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| Tristan Capital Limited | (England & Wales) | (100%) |
| Tristan Capital Partners LLP | (England & Wales) | &nbsp;&nbsp; (80%; CGH 0.5%; 19% other <br> members)<br>|
| CCP III (GP) LLP | (England & Wales) | (50%) |
| CCP III Incentive Partners (GP) Limited | (Scotland) |  |
| CCP III Incentive Partners LP | (Scotland) |  |
| Curzon Capital Partners III (GP) Limited | (England & Wales) |  |
| CCP III (GP) LLP | (England & Wales) | (99%, 1% held by TCP LLP) |
| Curzon Capital Partners III LP | (LUX) |  |
| Curzon Capital Partners IV GP Limited | (United Kingdom) |  |
| CCP IV (GP) LLP | (United Kingdom) | (99%, 1% held by TCP LLP) |
| Curzon Capital Partners IV LP | (United Kingdom) |  |
| Curzon Capital Partners IV S.a.r.l. | (LUX) |  |
| CCP IV Bolt FinCo S.a.r.l. | (LUX) |  |
| Curzon IV IREF 1 Holding Sarl | (LUX) |  |
| CCP IV IREF 1 | (ITA) |  |
| CCP IV Bolt 1 Sarl | (LUX) |  |
| Stratford City Offices Jersey Unit |  |  |
| Bolt Nominee 1 Limited | (UK) |  |
| Bolt Nominee 2 Limited | (UK) |  |
| CCP IV Bolt 2 Sarl | (LUX) |  |
| CCP IV Erneside Holding Sarl | (LUX) | (99.99976%) |
| CCP IV France Investments Sarl | (LUX) |  |
| OPPCI CCP IV France Investments | (FRA) |  |
| SCI Escape Cordeliers | (FRA) | &nbsp;&nbsp; (1 share held by CCP IV France <br> Investments Sarl)<br>|
| The Forum, Solent, Management Company <br> Limited<br>| (UK) |  |
| SBP Management Limited | (UK) | (27.83%) |
| CCP IV (GP) S.á.r.l. |  |  |
| CCP IV Keirin Luxembourg S.á.r.l. | (LUX) |  |
| CCP IV SCSp | (LUX) | (74%) |
| Keirin Holding S.á.r.l. | (LUX) |  |
| CCP IV UK Holding S.á.r.l. | (LUX) |  |
| Cardiff Gate RP Limited | (LUX) |  |
| Rotherham Foundry RP Limited | (LUX) |  |
| Warrington Riverside RP Limited | (LUX) |  |
| Birmingham Ravenside RP Limited | (LUX) |  |
| Walsall Bescot RP Limited | (LUX) |  |
| RW Sofas Limited | (LUX) |  |
| Bangor Springhill RP Limited | (LUX) |  |
| EPISO 3 Incentive Partners (GP) Limited | (Scotland) |  |
| EPISO 3 Incentive Partners LP | (Scotland) |  |
| EPISO 3 (GP) LLP | (United Kingdom) | (64%) |
| European Property Investors Special <br> Opportunities 3 LP<br>| (UK) |  |
| EPISO 3 L.P. | (UK) |  |
| EPISO 3 Luxembourg Holding Sarl | (LUX) |  |
| EPISO 3 Wave Holding Sarl | (LUX) |  |
| EPISO 4 (GP) II Sarl | (Luxembourg) |  |
| EPISO 4 Student Housing SCSp | (Luxembourg) |  |

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| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| EPISO 4 (GP) LLP | (United Kingdom) |  |
| European Property Investors Special <br> Opportunities 4 LP<br>| (UK) |  |
| EPISO 4 Caesar Holding Sarl | (LUX) |  |
| Trophy Value Added Fund | (Italy) | (74.15%) |
| EPISO 4 Luxembourg Holding Sarl | (LUX) |  |
| EP Office 1 Spzoo | (POL) |  |
| EP Office 2 Spzoo | (POL) |  |
| EP Retail Spzoo | (POL) |  |
| EP Apartments Spzoo | (POL) |  |
| EP Hotel Spzoo | (POL) |  |
| EPISO 4 Twilight GP Limited | (UK) |  |
| EPISO 4 Twilight LP | (UK) |  |
| Twilight Ireland PRS Properties Eclipse <br> DAC<br>| (IRL) |  |
| EPISO 4 West Holding Sarl | (LUX) | (97.5%) |
| EPISO 4 Atrim Sarl | (LUX) |  |
| EPISO 4 Banbridge Sarl | (LUX) |  |
| EPISO 4 France Investments Sarl | (LUX) | (90%) |
| OPPCI EPISO 4 France Investments | (FRA) | (1 share held by SCI VDF) |
| SAS VDF | (FRA) |  |
| SCI VDF | (FRA) |  |
| EPISO 4 Switch Holding Sarl | (LUX) |  |
| E4 Switch Norway AS | (Norway) | (80%) |
| EPISO 4 Pilgrim Holding Sarl | (Luxembourg) |  |
| TP Property Sarl | (LUX) |  |
| TB Property (Plymouth) Limited | (England & Wales) |  |
| TB Property Developments (Plymouth) <br> Limited<br>| (England & Wales) |  |
| EPISO 4 Lynx Holding Sarl | (LUX) | (97.6%) |
| EPISO 4 Lynx Sarl | (LUX) |  |
| EPISO 4 Lynx Marketing Sarl | (LUX) |  |
| CCP 5 Pool Partnership GP Limited | (Jersey) |  |
| CCP 5 Pool Partnership SLP | (Jersey) |  |
| CCP 5 GP LLP | (United Kingdom) | (80%) |
| Curzon Capital Partners 5 Long-Life LP | (United Kingdom) |  |
| CCP 5 (GP) S.a.r.l. | (Luxembourg) |  |
| Curzon Capital Partners 5 Long-Life SCA <br> SICAV-SIF<br>| (United Kingdom) |  |
| CCP 5 Jersey Fragco 1 Limited | (Jersey) |  |
| CCP 5 Jersey Fragco 2 Limited | (Jersey) |  |
| CCP 5 Jersey Fragco 3 Limited | (Jersey) |  |
| CCP 5 Jersey Fragco 4 Limited | (Jersey) |  |
| CCP 5 Jersey Fragco 5 Limited | (Jersey) |  |
| CCP 5 Jersey Fragco 6 Limited | (Jersey) |  |
| CCP 5 Jersey Fragco 7 Limited | (Jersey) |  |
| CCP 5 Jersey Fragco 8 Limited | (Jersey) |  |
| CCP 5 Jersey Fragco 9 Limited | (Jersey) |  |
| CCP 5 Jersey Fragco 10 Limited | (Jersey) |  |
| CCP 5 Jersey Fragco 11 Limited | (Jersey) |  |
| CCP 5 Long-Life Luxembourg S.a.r.l. | (Luxembourg) |  |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| CCP 5 LL GP Sárl | (Luxembourg) |  |
| Curzon Capital Partners 5 Long Life SCSp | (Luxembourg) |  |
| EPISO 5 Incentive Partners GP Limited | (Jersey) |  |
| EPISO 5 Incentive Partners SLP | (Jersey) |  |
| EPISO 5 (GP) Sárl | (Luxembourg) |  |
| European Property Investors Special <br> Opportunities 5 LP<br>| (Luxembourg) |  |
| EPISO 5 Luxembourg Holding S.á.r.l. | (Luxembourg) |  |
| EPISO 5 Portfolio GP S.á.r.l. | (Luxembourg) |  |
| EPISO 5 Silver JV SCSp | (Luxembourg) |  |
| Sterling Square Holdings S.á.r.l. | (Luxembourg) |  |
| European Property Investors Special <br> Opportunities 5 SCSp-SICAV-SIF<br>| (Luxembourg) |  |
| EPISO 5 Co-Investment SCSp | (Luxembourg) |  |
| EPISO 6 UK Portfolio GP Limited | (UK) | ("EPISO 6 UK") |
| EPISO 6 (GP) S.á.r.l. | (Luxembourg) |  |
| EPISO 6 Co-Investment SCSp | (Luxembourg) |  |
| European Property Investors Special <br> Opportunities 6 SCSp SICAV-SIF<br>| (Luxembourg) |  |
| E6 France Investments FPS-SICAV | (France) | (90.79%) |
| EPISO 6 UK Investment Holdings Limited | (Jersey) | (64%) ("EPISO 6") |
| EPISO 6 Pegasus Holding Limited | (UK) | (100%) |
| Pegasus Investment Partners LLP | (UK) | (97.5%) |
| Pegasus Affordable Limited | (UK) | (62%) |
| Zen Housing Limited | (UK) | (62%) |
| Zen Housing Investments Ltd. | (UK) |  |
| Zen Housing 2 Ltd. | (UK) |  |
| Zen Rented Ltd. | (UK) |  |
| EPISO 6 Waterfall Top Holdings Limited | (England & Wales) | (64%) |
| EPISO 6 Waterfall LP | (England & Wales) | (64%) |
| Waterfall HoldCo Limited | (England & Wales) |  |
| Waterfall PropCo Limited | (England & Wales) |  |
| Waterfall PropCo Limited | (England & Wales) |  |
| Bury South Management Company <br> Limited<br>| (England & Wales) | (39%) |
| Crossway Management Company <br> Limited<br>| (England & Wales) | (16%) |
| Turbine Management Company Limited | (England & Wales) | (21%) |
| EPISO 6 Phoenix JV LLP | (UK) | (EPISO 6 UK: 50%; EPISO 6: 50%) |
| Phoenix Core Holdco Limited | (UK) |  |
| Phoenix Core Propco Limited | (UK) | ("CorePropco") |
| Cody TP Management Company <br> Limited<br>|  | &nbsp;&nbsp; (CorePropco – GP Guarantor 100%, <br> DevCo - Guarantor)<br>|
| EPISO 6 Luxembourg Holding S.á.r.l. | (LUX) |  |
| Phoenix Development Holding S.á.r.l. | (LUX) | (99%, TP:1%) |
| Phoenix DevCo Sarl | (LUX) | ("DevCo") |
| EPISO 6 Spectre JV S.á.r.l. | (LUX) |  |
| EPISO 6 Spectre 1 Holding S.á.r.l. | (Luxembourg) |  |
| EPISO 6 Spectre 2 Holding S.á.r.l. | (Luxembourg) |  |
| EPISO 6 Spectre 3 Holding S.á.r.l. | (Luxembourg) |  |
| EPISO 6 Curado Holding S.á.r.l. | (Luxembourg) |  |

---

------

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| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| Claybrook, S.L.<br> (Spain) | (90%) |
| Barnfield Spain, S.L.<br> (Spain) |  |
| EPISO 6 Macbeth Holding S.á.r.l.<br> (Luxembourg) |  |
| Macbeth 4 SRL<br> (Belgium) |  |
| Montague 1 S.á.r.l.<br> (LUX) |  |
| EPISO 6 Moomin Holding S.á.r.l.<br> (LUX) |  |
| EPISO 6 Siem Holding S.á.r.l.<br> (LUX) |  |
| EPISO 6 Siem S.á.r.l.<br> (LUX) |  |
| EPISO 6 Emerald Holdings S.á.r.l.<br> (LUX) | (96%) |
| BCRE Leipzig Wohnen Nord B.V. |  |
| BCRE Leipzig Wohnen Ost B.V. |  |
| BCRE Leipzig West Ost B.V. |  |
| TAG Leipzig-Immobilien GmbH |  |
| EPISO 6 Platinum Holding S.a.r.l.<br> (Luxembourg) |  |
| Frankfurt Wohnland GmbH<br> (Germany) |  |
| EPSIO 6 MB Holding S.a.r.l.<br> (Luxembourg) | (90%) |
| MB Property 1 S.a.r.l.<br> (Luxembourg) |  |
| Hella Acquico GP S.á.r.l.<br> (Luxembourg) |  |
| Hella Acquico GP SCSp<br> (Luxembourg) |  |
| Hella Holding S.á.r.l.<br> (Luxembourg) | (96%) |
| H Main Holding S.á.r.l.<br> (Luxembourg) |  |
| H Main 1 S.á.r.l.<br> (Luxembourg) |  |
| H Main 2 S.á.r.l.<br> (Luxembourg) |  |
| H Main 3 S.á.r.l.<br> (Luxembourg) |  |
| H Main 4 S.á.r.l.<br> (Luxembourg) |  |
| H Main 5 S.á.r.l.<br> (Luxembourg) |  |
| H Main 6 S.á.r.l.<br> (Luxembourg) |  |
| H Main 7 S.á.r.l.<br> (Luxembourg) |  |
| EPISO 6 Nexus Holding S.a.r.l.<br> (Luxembourg) |  |
| Aventos Eta Investment GmbH |  |
| EPISO 6 Nexus MidCo S.a.r.l.<br> (Luxembourg) |  |
| EPISO 6 Manor GP S.a.r.l.<br> (Luxembourg) |  |
| EPISO 6 Manor JV SCSp<br> (Luxembourg) |  |
| EPISO 6 Manor Holding S.a.r.l.<br> (Luxembourg) |  |
| Manor Property S.a.r.l.<br> (Luxembourg) |  |
| Manor Devco Limited<br> (UK) |  |
| EPISO 6 Northface Holding S.a.r.l.<br> (Luxembourg) |  |
| Northface 1 S.a.r.l.<br> (Luxembourg) |  |
| Northface 2 S.a.r.l.<br> (Luxembourg) |  |
| Northface 3 Fixtures S.a.r.l.<br> (Luxembourg) |  |
| EPISO 6 Panther Co-Investment SCSp <br> (Jersey) GP Limited<br>(Jersey) | (92.15%) |
| EPISO 6 Panther (Jersey) GP Limited<br> (Jersey) | (90%) |
| EPISO 6 Panther (Jersey) JV SLP<br> (Jersey) |  |
| EPISO 6 Panther (Jersey) Holdco Limited<br> (Jersey) |  |
| EPISO 6 Panther Property Limited<br> (Jersey) |  |
| Point A Hotels (Web) Limited<br> (UK) |  |
| Point A Hotels Limited<br> (UK) |  |
| Raag St. Andrew Hotel Limited<br> (UK) |  |
| Patrizia Hanover (St. Andrew) PUT<br> (Jersey) |  |
| Raag Hotels Limited<br> (Jersey) |  |

---

------

---

| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| QMK Pub Westminster Limited<br> (UK) |  |
| RAAG OBS Limited<br> (Jersey) |  |
| QMK OBS Limited<br> (IRL) |  |
| Raag Dublin Limited<br> (Jersey) |  |
| Raag QMK Dublin Limited<br> (IRE) |  |
| Raag Kensington Holdings Limited<br> (Jersey) |  |
| Raag Kensington Hotel Limited<br> (Jersey) |  |
| QMK Kensington Limited<br> (UK) |  |
| Raag Westminster Holdings Limited<br> (Jersey) |  |
| Raag Westminster Hotel Limited<br> (Jersey) |  |
| QMK Westminster Limited<br> (UK) |  |
| Raag Liverpool Street Holdings Limited<br> (Jersey) |  |
| Raag Liverpool Street Hotel Limited<br> (Jersey) |  |
| QMK Liverpool Street Limited<br> (UK) |  |
| Raag Kings Cross Holdings Limited<br> (Jersey) |  |
| Raag Kings Cross Hotel Limited<br> (Jersey) |  |
| QMK KX Limited<br> (UK) |  |
| Raag Paddington Holdings Limited<br> (Jersey) |  |
| Raag Paddington Hotel Limited<br> (Jersey) |  |
| QMK Paddington Limited<br> (UK) |  |
| Raag Canary Wharf Limited<br> (Jersey) |  |
| QMK Canary Wharf Limited<br> (UK) |  |
| Raag Shoreditch Limited<br> (Jersey) |  |
| QMK Shoreditch Limited<br> (UK) |  |
| Raag Aberdeen<br> (Jersey) |  |
| QMK Management Limited<br> (UK) |  |
| EPISO 6 Panther Co-Investment (GP) S.a.r.l.<br> (Luxembourg) |  |
| EPISO 6 Tiger Co-Investment SCSp<br> (Luxembourg) |  |
| EPISO 6 Tiger GP Limited<br> (UK) |  |
| EPISO 6 Tiger JV LLP<br> (UK) |  |
| EPISO 6 Tiger Hotels Limited<br> (UK) |  |
| easyHotel Limited<br> (UK) |  |
| easyHotel Top Holdco Limited<br> (UK) |  |
| easyHotel New UK Mezz Holdco Limited<br> (UK) |  |
| easyHotel New UK Parent Holdco <br> Limited<br>(UK) |  |
| easyHotel New UK Master Holdco <br> Limited<br>(UK) |  |
| easyHotel New UK Limited<br> (UK) |  |
| easyHotel Italy Holdings S.R.L.<br> (Italy) |  |
| easyHotel France SAS<br> (France) |  |
| easyHotel Nice Holdings SAS<br> (France) |  |
| CGH SAS<br> (France) |  |
| SC Nice Hotel<br> (France) | (99%) |
| easyHotel France Paris CDG SAS<br> (France) |  |
| easyHotel France Aubervilliers SAS<br> (France) |  |
| easyHotel France Marseille Opco <br> SAS<br>(France) |  |
| easyHotel France Marseille Propco <br> SAS<br>(France) |  |
| easyHotel Fira, S.L.<br> (Spain) |  |

---

------

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| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| easyHotel Spain S.L.<br> (Spain) |  |
| easyHotel Spain Holdings S.L.<br> (Spain) |  |
| eH Barcelona Meridiana OpCo S.L.<br> (Spain) |  |
| easyHotel Barcelona Meridiana <br> PropCo S.L.<br>(Spain) |  |
| eH Alicante OpCo S.L.<br> (Spain) |  |
| EasyHotel Alicante PropCo S.L.<br> (Spain) |  |
| eH Valencia OpCo S.L.<br> (Spain) |  |
| easyHotel Valencia PropCo S.L.<br> (Spain) |  |
| eH Madrid Fleta OpCo S.L.<br> (Spain) |  |
| easyHotel Spain Madrid Fleta <br> PropCo S.L.<br>(Spain) |  |
| easyHotel Ireland HoldCo Limited<br> (Ireland) |  |
| easyHotel Ireland Limited<br> (Ireland) |  |
| easyHotel UK Holdings Limited<br> (UK) |  |
| easyHotel Birmingham Limited<br> (UK) |  |
| easyHotel Ipswich Limited<br> (UK) |  |
| easyHotel Milton Keynes Limited<br> (UK) |  |
| easyHotel Leeds Limited<br> (UK) |  |
| easyHotel Cardiff Limited<br> (UK) |  |
| easyHotel Liverpool Limited<br> (UK) |  |
| easyHotel Manchester Limited<br> (UK) |  |
| easyHotel Sheffield Limited<br> (UK) |  |
| easyHotel Glasgow Limited<br> (UK) |  |
| easyHotel Shoreditch Limited<br> (UK) |  |
| easyHotel Croydon Limited<br> (UK) |  |
| easyHotel BidCo No. 1 Limited<br> (UK) |  |
| easyHotel BidCo No. 2 Limited<br> (UK) |  |
| Benelux Budget Hotel Holding <br> (BBHH) B.V.<br>(Netherlands) |  |
| Benelux Budget Hotel <br> Management (BBHM) B.V.<br>(Netherlands) |  |
| AMSOCS Hotel B.V.<br> (Netherlands) |  |
| Benelux Hotel Exploitatie 1 B.V.<br> (Netherlands) |  |
| DHCC Hotel B.V.<br> (Netherlands) |  |
| Benelux Hotel Exploitatie II B.V.<br> (Netherlands) |  |
| RDCC Hotel B.V.<br> (Netherlands) |  |
| Benelux Hotel Exploitatie III B.V.<br> (Netherlands) |  |
| AMSAB Hotel B.V.<br> (Netherlands) |  |
| Benelux Hotel Exploitatie 4 B.V.<br> (Netherlands) |  |
| Benelux Hotel Exploitatie 6 B.V.<br> (Netherlands) |  |
| DHSCH Hotel B.V.<br> (Netherlands) |  |
| Benelux Hotel Exploitatie 7 B.V.<br> (Netherlands) |  |
| Argent Office N.V.<br> (Belgium) |  |
| BHRE 4 (Masstricht) B.V.<br> (Netherlands) |  |
| BHRE 1 B.V.<br> (Netherlands) |  |
| Benelux Hotel Exploitatie 8 B.V.<br> (Netherlands) |  |
| Benelux Hotel Exploitatie 5 N.V.<br> (Belgium) |  |
| easyHotel Oxford OpCo Limited<br> (UK) |  |
| easyHotel Newcastle OpCo Limited<br> (UK) |  |
| TIPS One Incentive Partners GP Limited<br> (Jersey) |  |

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------

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| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| TIPS One Incentive Partners SLP | (Jersey) |  |
| TIPS One GP Sarl | (Luxembourg) |  |
| Tristan Income Plus Strategy One SCSp | (Luxembourg) |  |
| TIPS One Alpha Holdings Sarl | (Luxembourg) |  |
| TIPS One Alpha PV I Sarl | (Luxembourg) |  |
| TIPS One Co-Investment GP Sarl | (Luxembourg) |  |
| TIPS One Co-Investment SCSp | (Luxembourg) |  |
| CCP IV (GP) LLP | (England & Wales) | (50%) |
| Curzon Capital Partners IV (GP) Limited | (England & Wales) |  |
| CCP 5 GP LLP | (England & Wales) | (33%) (2 individual members) |
| CCP 5 Pool Partnership GP Limited | (Jersey) |  |
| CCP 5 Pool Partnership SLP | (Jersey) |  |
| Tristan Capital Partners Asset Management <br> Limited<br>| (England & Wales) |  |
| TCP Spain, SL | (Spain) | (64.5%) |
| TCP France | (France) |  |
| TCP NL BV | (Netherlands) |  |
| TCP Poland Spolka z ograniczoną <br> odpowiedzialnoscią<br>| (Poland) |  |
| Tristan Capital Management Company S.a.r.l. | (Luxembourg) |  |
| TCP Co-Investment (GP) S.à.r.l. | (Luxembourg) |  |
| TCP Co-Investment SCSp | (Luxembourg) |  |
| German Property Performance Partners <br> Investors Feeder Verwaltungs GmbH<br>| (Germany) |  |
| EPISO 4 (GP) S.à.r.l. | (Luxembourg) |  |
| EPISO 4 SCSp | (Luxembourg) |  |
| EPISO 4 (GP) II S.à.r.l. | (Luxembourg) |  |
| EPISO 4 Student Housing SCSp | (Luxembourg) |  |
| Ausbil Investment Management Limited | (Australia) | ("AUSBIL") (81.14%) |
| Ausbil Australia Pty. Ltd. | (Australia) |  |
| Ausbil Asset Management Pty. Ltd. | (Australia) |  |
| Ausbil Global Infrastructure Pty. Limited | (Australia) | (55%) (45% owned by 4 employees) |
| Ausbil Investment Management Limited Employee <br> Share Trust<br>| (Australia) | (Ausbil: 100%) |
| Ausbil Global SmallCap Fund | (Australia) | (NYLIAC: 23.26%) |
| Ausbil Long Short Focus Fund | (Australia) | (NYLIAC: 30.41%) |
| Ausbil CORE Global Listed Infrastructure Fund |  | (NYLIAC: 99.91%) |
| NYLIFE Distributors LLC | (Delaware) |  |
| Flatiron RR LLC | (Delaware) |  |
| Flatiron RR II LLC | (Delaware) | &nbsp;&nbsp; (NYLInvestors Series A: 100%; <br> Tetragon Credit Income V L.P. Series <br> B: 100%)<br>|
| Flatiron RR CLO 30 LLC | (Delaware) |  |
| Flatiron CLO 2013-1-Ltd. | (Cayman Islands) | (NYL: 0%) (NYLIC: 25% equity) |
| Flatiron CLO 2015-1 Ltd. | (Cayman Islands) | &nbsp;&nbsp; (NYL: 0%) (NYL Investors Approx. <br> 59.155% Equity)<br>|
| Flatiron CLO 17 Ltd. | (Cayman Islands) | &nbsp;&nbsp; (NYL: 0%) (NYLIC: 4.09% debt, NYL <br> Investors 54% equity)<br>|
| Flatiron CLO 18 Ltd. | (Cayman Islands) | &nbsp;&nbsp; (NYL: 0%) (NYL Investors 100% <br> Equity)<br>|
| Flatiron CLO 19 Ltd. | (Cayman Islands) | (NYL: 0%) |

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------

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| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| Flatiron CLO 20 Ltd. | (Cayman Islands) | &nbsp;&nbsp; (NYL: 0%) (NYL Investors 62% <br> Equity)<br>|
| Flatiron CLO 21 Ltd. | (Cayman Islands) | (NYL: 0%) |
| Flatiron RR CLO 22 LLC | (Cayman Islands) | (NYL: 0%) |
| Flatiron CLO 24 Ltd. | (Cayman Islands) | (NYL: 0%) |
| Flatiron CLO 25 Ltd. | (Cayman Islands) | (NYL: 0%) |
| Flatiron CLO 26 Ltd. | (Jersey) | (NYL: 0%) |
| Flatiron CLO 23 LLC | (Delaware) |  |
| Flatiron RR CLO 27 Ltd. | (Cayman Islands) | (NYL: 0%) |
| Flatiron CLO 28 Ltd. | (Cayman Islands) | (NYL: 0%) |
| Flatiron RR LLC, Manager Series | &nbsp;&nbsp; (Delaware Series <br> LLC)<br>| (Series A) |
| Flatiron RR LLC, Retention Series | &nbsp;&nbsp; (Delaware Series <br> LLC)<br>| (Series B) |
| Flatiron CLO 29 Ltd. |  |  |
| Flatiron RR CLO 30 Ltd. | (Cayman Islands) | (NYL: 0%) |
| Flatiron CLO 31 Ltd. |  |  |
| Flatiron CLO 32 Ltd. |  |  |
| Flatiron CLO 33 Ltd. |  |  |
| Flatiron CLO 34 Ltd. |  | (NYL Investors 70%) |
| Stratford CDO 2001-1 Ltd. | (Cayman Islands) |  |
| NYLIFE LLC | (Delaware) |  |
| Eagle Strategies LLC | (Delaware) |  |
| New York Life Capital Corporation | (Delaware) |  |
| New York Life Trust Company | (New York) |  |
| NYLIFE Securities LLC | (Delaware) |  |
| NYLINK Insurance Agency Incorporated | (Delaware) |  |
| Silver Spring, LLC | (Delaware) |  |
| Silver Spring Associates, L.P. | (Pennsylvania) |  |
| SCP 2005-C21-002 LLC | (Delaware) |  |
| SCP 2005-C21-003 LLC | (Delaware) |  |
| SCP 2005-C21-006 LLC | (Delaware) |  |
| SCP 2005-C21-007 LLC | (Delaware) |  |
| SCP 2005-C21-008 LLC | (Delaware) |  |
| SCP 2005-C21-009 LLC | (Delaware) |  |
| SCP 2005-C21-017 LLC | (Delaware) |  |
| SCP 2005-C21-018 LLC | (Delaware) |  |
| SCP 2005-C21-021 LLC | (Delaware) |  |
| SCP 2005-C21-025 LLC | (Delaware) |  |
| SCP 2005-C21-031 LLC | (Delaware) |  |
| SCP 2005-C21-036 LLC | (Delaware) |  |
| SCP 2005-C21-041 LLC | (Delaware) |  |
| SCP 2005-C21-043 LLC | (Delaware) |  |
| SCP 2005-C21-044 LLC | (Delaware) |  |
| SCP 2005-C21-048 LLC | (Delaware) |  |
| SCP 2005-C21-061 LLC | (Delaware) |  |
| SCP 2005-C21-063 LLC | (Delaware) |  |
| SCP 2005-C21-067 LLC | (Delaware) |  |
| SCP 2005-C21-069 LLC | (Delaware) |  |
| SCP 2005-C21-070 LLC | (Delaware) |  |

---

------

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| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| NYMH-Ennis GP, LLC<br> (Delaware) |  |
| NYMH-Ennis, L.P.<br> (Texas) |  |
| NYMH-Freeport GP, LLC<br> (Delaware) |  |
| NYMH-Freeport, L.P.<br> (Texas) |  |
| NYMH-Houston GP, LLC<br> (Delaware) |  |
| NYMH-Houston, L.P.<br> (Texas) |  |
| NYMH-Plano GP, LLC<br> (Delaware) |  |
| NYMH-Plano, L.P.<br> (Texas) |  |
| NYMH-San Antonio GP, LLC<br> (Delaware) |  |
| NYMH-San Antonio, L.P.<br> (Texas) |  |
| NYMH-Stephenville GP, LLC<br> (Delaware) |  |
| NYMH-Stephenville, L.P.<br> (Texas) |  |
| NYMH-Taylor GP, LLC<br> (Delaware) |  |
| NYMH-Taylor, L.P.<br> (Texas) |  |
| NYMH-Attleboro MA, LLC<br> (Delaware) |  |
| NYMH-Farmingdale, NY LLC<br> (Delaware) |  |
| NYLMDC-King of Prussia GP, LLC<br> (Delaware) |  |
| NYLMDC-King of Prussia Realty, LP<br> (Delaware) |  |
| Country Place LP<br> (Delaware) |  |
| Country Place JV LLC<br> (Delaware) |  |
| REEP-MF Salisbury Square Tower One TAF LLC<br> (Delaware) | (NYLIC: 95.5%; NYLIAC: 0.5%) |
| REEP-DRP Salisbury Square Tower One TAB JV LLC<br> (Delaware) | (LLC: 80%) |
| Salisbury Square Tower One LLC<br> (Delaware) |  |
| REEP-MF Salisbury Square Tower Two TAF LLC<br> (Delaware) | (inactive) |
| REEP-DRP Salisbury Square Tower Two TAB JV LLC<br> (Delaware) | (inactive) |
| REEP-MF Salisbury Square TAF LLC<br> (Delaware) | (inactive) |
| REEP-IND MCP WEST NC LLC<br> (Delaware) |  |
| Cumberland Properties LLC<br> (Delaware) |  |
| NYLife Real Estate Holdings LLC<br> (Delaware) |  |
| Huntsville NYL LLC<br> (Delaware) |  |
| REEP-IND Forest Park NJ LLC<br> (Delaware) |  |
| FP Building 4 LLC<br> (Delaware) |  |
| FP Building 1-2-3 LLC<br> (Delaware) |  |
| FP Building 17, LLC<br> (Delaware) |  |
| FP Building 20, LLC<br> (Delaware) |  |
| FP Mantua Grove LLC<br> (Delaware) |  |
| FP Lot 1.01 LLC<br> (Delaware) |  |
| REEP-IND NJ LLC<br> (Delaware) |  |
| NJIND JV LLC<br> (Delaware) | (93%) |
| NJIND Hook Road LLC<br> (Delaware) |  |
| NJIND Bay Avenue LLC<br> (Delaware) |  |
| NJIND Bay Avenue Urban Renewal LLC<br> (Delaware) |  |
| NJIND Corbin Street LLC<br> (Delaware) |  |
| REEP-MF Cumberland TN LLC<br> (Delaware) |  |
| Cumberland Apartments, LLC<br> (Tennessee) |  |
| REEP-MF Marina Landing WA LLC<br> (Delaware) |  |
| REEP-SP Marina Landing LLC<br> (Delaware) | (98%) |
| REEP-MF Woodridge IL LLC<br> (Delaware) |  |
| REEP-RTL SASI GA LLC<br> (Delaware) |  |
| REEP-RTL Bradford PA LLC<br> (Delaware) |  |

---

------

---

| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| REEP-RTL CTC NY LLC<br> (Delaware) |  |
| 5005 LBJ Tower LLC<br> (Delaware) | (97%) |
| REEP-OFC/RTL MARKET ROSS TX LLC<br> (Delaware) |  |
| MARKET ROSS TX JV LLC<br> (Delaware) | (98.7%) |
| MARKET ROSS TX GARAGE OWNER LLC<br> (Delaware) |  |
| MARKET ROSS TX OFFICE OWNER LLC<br> (Delaware) |  |
| MARKET ROSS TX RETAIL OWNER LLC<br> (Delaware) |  |
| REEP-OFC Mallory TN LLC<br> (Delaware) |  |
| 3665 Mallory JV LLC<br> (Delaware) | (90.9%) |
| REEP-OFC WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC 2300 Empire LLC<br> (Delaware) |  |
| REEP-MF Wynnewood PA LLC<br> (Delaware) |  |
| Wynnewood JV LLC<br> (Delaware) | (100%) |
| REEP-MU Fayetteville NC LLC<br> (Delaware) | (100%) |
| 501 Fayetteville JV LLC<br> (Delaware) | (85%) |
| 501 Fayetteville Owner LLC<br> (Delaware) | (100%) |
| REEP-MU SOUTH GRAHAM NC LLC<br> (Delaware) |  |
| 401 SOUTH GRAHAM JV LLC<br> (Delaware) | (90%) |
| 401 SOUTH GRAHAM OWNER LLC<br> (Delaware) |  |
| REEP-IND COMMERCE CITY CO LLC<br> (Delaware) |  |
| REEP-BRENNAN COMMERCE CITY JV LLC<br> (Delaware) |  |
| REEP-OFC Mass Ave MA LLC<br> (Delaware) |  |
| REEP-MF FARMINGTON IL LLC<br> (Delaware) |  |
| REEP-MARQUETTE FARMINGTON JV LLC<br> (Delaware) | (90%) |
| REEP-MARQUETTE FARMINGTON OWNER LLC<br> (Delaware) |  |
| REEP-MF BELLVUE STATION WA LLC<br> (Delaware) |  |
| REEP-LP BELLVUE STATION JV LLC<br> (Delaware) | (86.15%) |
| REEP-HINES ENCLAVE POINT AZ LLC<br> (Delaware) |  |
| REEP-HINES ENCLAVE POINT JV LLC<br> (Delaware) | (50%) |
| REEP-MF WILDHORSE RANCH TX LLC<br> (Delaware) |  |
| REEP-WP-WILDHORSE RANCH JV LLC<br> (Delaware) |  |
| REEP-IND ROMULUS MI LLC<br> (Delaware) |  |
| REEP-NPD ROMULUS JV LLC<br> (Delaware) | (87.14%) |
| REEP-IND ROMULUS MI II LLC<br> (Delaware) |  |
| REEP-NPD ROMULUS II AND III JV LLC | (75.22%) |
| REEP-NPD Romulus II AND III JV B4 <br> OWNER LLC<br>(Delaware) |  |
| REEP-NPD Romulus II AND III JV B5 <br> OWNER LLC<br>(Delaware) |  |
| REEP-MF SOUTH MAIN TX LLC<br> (Delaware) | (100%) |
| REEP-AO SOUTH MAIN JV LLC<br> (Delaware) | (99.99%) |
| REEP-AO SOUTH MAIN OWNER LLC<br> (Delaware) | (100%) |
| REEP-IND Cubes Roosevelt LLC<br> (Delaware) |  |
| REEP-IND Cubes Roosevelt JV, LLC<br> (Delaware) | (90%) |
| 4300 Roosevelt LLC<br> (Illinois) |  |
| 2015 DIL PORTFOLIO HOLDINGS LLC<br> (Delaware) | (NYLIC: 100%) |
| PA 180 KOST RD LLC<br> (Delaware) |  |
| Cortlandt Town Center LLC<br> (Delaware) |  |
| REEP-ADC GA LLC<br> (Delaware) |  |
| REEP-WP ART TOWER JV LLC<br> (Delaware) |  |
| REEP-1250 Forest LLC<br> (Delaware) |  |

---

------

---

| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| REEP-HZ SPENCER LLC<br> (Delaware) |  |
| REEP-IND 10 WEST AZ LLC<br> (Delaware) |  |
| REEP-IND 4700 Nall TX LLC<br> (Delaware) |  |
| REEP-IND Alpha TX LLC<br> (Delaware) |  |
| REEP-IND MCP VIII NC LLC<br> (Delaware) |  |
| REEP-IND CHINO CA LLC<br> (Delaware) |  |
| REEP-IND FRANKLIN MA HOLDER LLC<br> (Delaware) |  |
| REEP-IND FREEDOM MA LLC<br> (Delaware) |  |
| REEP-IND Fridley MN LLC<br> (Minnesota) |  |
| REEP-IND Kent LLC<br> (Delaware) |  |
| REEP-IND LYMAN MA LLC<br> (Delaware) |  |
| REEP-IND MCP II NC LLC<br> (Delaware) |  |
| REEP-IND MCP IV NC LLC<br> (Delaware) |  |
| REEP-IND MCP V NC LLC<br> (Delaware) |  |
| REEP-IND MCP VII NC LLC<br> (Delaware) |  |
| REEP-INC MCP III OWNER NC LLC<br> (Delaware) |  |
| REEP-IND MCP West NC LLC<br> (Delaware) |  |
| REEP-IND STANFORD COURT LLC<br> (Delaware) |  |
| REEP-IND STANFORD COURT CA LLC<br> (Delaware) |  |
| REEP-IND Valley View TX LLC<br> (Delaware) |  |
| REEP-IND Valwood TX LLC<br> (Delaware) |  |
| REEP-MF 960 East Paces Ferry GA LLC<br> (Delaware) |  |
| REEP-MF 960 EPF Opco GA LLC<br> (Delaware) |  |
| REEP-MF Emblem DE LLC<br> (Delaware) |  |
| REEP-MF Gateway TAF UT LLC<br> (Delaware) | (NYLIC: 99%, NYLIAC: 1%) |
| REEP-WP Gateway TAB JV LLC<br> (Delaware) | (LLC: 99%, NYLIAC: 1%) |
| REEP-MF Mount Laurel NJ LLC<br> (Delaware) |  |
| REEP-MF NORTH PARK CA LLC<br> (Delaware) |  |
| REEP-AVERY OWNER LLC<br> (Delaware) |  |
| REEP-MF One City Center NC LLC<br> (Delaware) |  |
| REEP-MF Wallingford WA LLC<br> (Delaware) |  |
| REEP-MF STEWART AZ OLDER LLC<br> (Delaware) |  |
| REEP-MF STEWART AZ<br> (Delaware) |  |
| REEP-OFC Aspect OR LLC<br> (Delaware) | (NYLIC: 37%, NYLIAC: 63%) |
| REEP-OFC Bellevue WA LLC<br> (Delaware) |  |
| REEP-OFC Financial Center FL LLC<br> (Delaware) |  |
| REEP-OFC WATER RIDGE NC HOLDCO LLC<br> (Delaware) |  |
| REEP-OFC ONE WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC TWO WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC FOUR WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC FIVE WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC SIX WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC SEVEN WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC EIGHT WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC NINE WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC TEN WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC ELEVEN WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-MF FOUNTAIN PLACE MN LLC<br> (Delaware) |  |
| REEP-MF FOUNTAIN PLACE LLC<br> (Delaware) |  |
| REEP-MF Park-Line FL LLC<br> (Delaware) |  |
| REEP-OFC 2300 Empire CA LLC<br> (Delaware) |  |

---

------

---

| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| REEP-IND 10 WEST II AZ LLC<br> (Delaware) |  |
| REEP-RTL Flemington NJ LLC<br> (Delaware) |  |
| REEP-RTL Mill Creek NJ LLC<br> (Delaware) |  |
| REEP-RTL NPM GA LLC<br> (Delaware) |  |
| REEP-OFC 515 Post Oak TX LLC<br> (Delaware) | (NYLIC: 65%, NYLIAC: 35%) |
| REEP-RTL DTC VA LLC<br> (Delaware) | (NYLIC: 39%, NYLIAC: 61%) |
| REEP-RTL DTC-S VA LLC<br> (Delaware) | (NYLIC: 37%, NYLIAC: 63%) |
| REEP-OFC 410 TOWNSEND CA LLC<br> (Delaware) |  |
| REEP-OFC 410 TOWNSEND LLC<br> (Delaware) |  |
| REEP-2023 PH 5 LLC<br> (Delaware) | &nbsp;&nbsp; (Name change to Madison-LPP <br> Kernersville GP LLC)<br>|
| REEP-2023 PH 6 LLC<br> (Delaware) | &nbsp;&nbsp; (Name change to Madison-LPP <br> Kernersville LP)<br>|
| REEP-2023 PH 7 LLC<br> (Delaware) |  |
| REEP-2023 PH 8 LLC<br> (Delaware) | &nbsp;&nbsp; (Name change to Madison-LPP <br> Kernersville QRS, Inc.)<br>|
| REEP-OFC 600 TOWNSEND LLC<br> (Delaware) |  |
| REEP-OFC 600 TOWNSEND CA LLC<br> (Delaware) |  |
| REEP-OFC 1341 G DC LLC<br> (Delaware) | (NYLIC: 65%, NYLIAC: 35%) |
| REEP-OFC 1030 15NM DC LLC<br> (Delaware) | (NYLIC: 65%, NYLIAC: 35%) |
| REEP-OFC 1111 19NW DC LLC<br> (Delaware) | (NYLIC: 63.83%, NYLIAC: 36.17%) |
| REEP 220 NW Owner LLC<br> (Delaware) |  |
| REEP-OFC 30 WM IL LLC<br> (Delaware) |  |
| REEP-SS Marshfield LLC<br> (Delaware) |  |
| REEP-LLP Marshfield JV LLC<br> (Delaware) |  |
| REEP-SS Vallejo LLC<br> (Delaware) |  |
| REEP-OFC 353 Sacramento LLC<br> (Delaware) |  |
| REEP-Royal 353 Sacramento JV LLC<br> (Delaware) |  |
| REEP-MF Reno LLC<br> (Delaware) |  |
| REEP-NPD Romulus II and III JV LLC<br> (Delaware) |  |
| REEP-NPD Romulus II and III JV B4 OWNER LLC<br> (Delaware) |  |
| REEP-NPD Romulus II and III JV B5 OWNER LLC<br> (Delaware) |  |
| REEP-OFC 757 Third Avenue NY LLC<br> (Delaware) |  |
| REEP-OFC 260 Sheridan JV CA LLC<br> (Delaware) |  |
| REEP-OFC 260 Sheridan JV Owner CA LLC<br> (Delaware) |  |
| REKA 51M HOLDINGS, LLC<br> (Delaware) |  |
| NJIND Raritan Center LLC<br> (Delaware) |  |
| NJIND Talmadge Road LLC<br> (Delaware) |  |
| NJIND Melrich Road LLC<br> (Delaware) |  |
| FP Building 18, LLC<br> (Delaware) |  |
| FP Building 19, LLC<br> (Delaware) |  |
| Summit Ridge Apartments, LLC<br> (Delaware) |  |
| PTC Acquisitions, LLC<br> (Delaware) |  |
| Martingale Road LLC<br> (Delaware) |  |
| NYLIC HKP MEMBER LLC<br> (Delaware) | &nbsp;&nbsp; (NYLIC-MM: 67.974%, NYLIAC-IM: <br> 32.026%)<br>|
| NYLIC HKP VENTURE LLC<br> (Delaware) | (51%) |
| NYLIC HKP REIT LLC<br> (Delaware) | (51%) |
| New York Life Funding<br> (Cayman Islands)<sup>6</sup> <br>|  |
| New York Life Global Funding<br> (Delaware)<sup>6</sup> <br>|  |
| Government Energy Savings Trust 2003-A (GEST)<br> (New York)<sup>7</sup> <br>|  |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| UFI-NOR Federal Receivables Trust, Series 2009B | (New York)<sup>7</sup> <br>|  |
| NYLARC Holding Company Inc. | (Arizona)<sup>6</sup> <br>|  |
| New York Life Agents Reinsurance Company | (Arizona)<sup>6</sup> <br>|  |
| JREP Fund Holdings I, L.P. | (Cayman Islands) | (12.5%) |
| Jaguar Real Estate Partners L.P. | (Cayman Islands) | (30.3%) |
| REEP-NYL JAG ACQUISITION CO MEMBER LLC | (Delaware) |  |
| NYLIFE Office Holdings Member LLC | (Delaware) | (51%) |
| NYLIFE Office Holdings LLC | (Delaware) | (51%) |
| NYLIFE Office Holdings REIT LLC | (Delaware) |  |
| REEP-OFC DRAKES LANDING CA LLC | (Delaware) |  |
| REEP-OFC CORPORATE POINTE CA LLC | (Delaware) |  |
| REEP-OFC VON KARMAN CA LLC | (Delaware) |  |
| REEP-OFC ONE BOWDOIN SQUARE MA LLC | (Delaware) |  |
| REEP-OFC 525 N Tryon NC LLC | (Delaware) |  |
| 525 Charlotte Office LLC | (Delaware) | (100%) |
| REEP-IMPIC OFC PROMINENCE ATLANTA LLC | Delaware |  |
| Sol Invictus Note Issuer 2021-1 LLC | (Delaware) |  |
| Veritas Doctrina Note Issuer SPV LLC | (Delaware) |  |
| Fairview Capital Partners, LLC | (Delaware) | (49%) |
| AC 2023 NMTC Investor, LLC | (Louisiana) | (NYLIC: 79.20%, NYLIAC: 19.80%) |
| USB NMTC FUND 20223-6, LLC | (Delaware) |  |
| NYLIC RLP II, LLC | (Delaware) |  |
| Phalanx Mortgage Opportunities Trust | (Delaware) | &nbsp;&nbsp; (NYL:0%) (Delaware Statutory Trust <br> BNY Trustee)<br>|
| Phalanx Mortgage Opportunities Trust Manager LLC | (Delaware) | (NYL:0%) |

---

------

(+)

By including the indicated corporations in this list, New York Life is not stating or admitting that said corporations are under its actual control; rather, these corporations are listed here to ensure full compliance with the requirements of this Form N-4.

(\*)

Registered investment company as to which New York Life and/or its subsidiaries perform one or more of the following services: investment management, administrative, distribution, transfer agency and underwriting services. It is not a subsidiary of New York Life and is included for informational purposes only.

(†)

New York Life Investment Management LLC serves as investment adviser to this entity, the shares of which are held of record by separate accounts of NYLIAC. New York Life disclaims any beneficial ownership and control of this entity. New York Life and NYLIAC as depositors of said separate accounts have agreed to vote their shares as to matters covered in the proxy statement in accordance with voting instructions received from holders of variable annuity and variable life insurance policies at the shareholders meeting of this entity. It is not a subsidiary of New York Life, but is included here for informational purposes only.

NYL Cayman Holdings Ltd. owns 15.62%.

NYL Worldwide Capital Investment LLC owns 0.002%.

NYLIC owns 0.00%, NYLIAC owns 0.00%, and MacKay owns .07% for a total ownership of .07%.

NYLCAP Manager LLC owns 24.66% of the voting management shares. NYLCAP India Funding LLC owns 36% of non-voting carry shares.

NYLCAP Manager LLC owns 24.66% of the voting management shares. NYLCAP India Funding III LLC owns 31.36% of non-voting carry shares.

Control is through a reliance relationship between NYLIC and this entity, not ownership of voting interests.

Control is through financial interest or investment management contract, not ownership of voting interests.

------

ITEM 30. INDEMNIFICATION

Article IX of the Amended and Restated By-Laws of New York Life Insurance and Annuity Corporation ("NYLIAC") provides that NYLIAC shall indemnify and hold harmless (including the provision of a defense) certain persons to the fullest extent permitted by the Delaware General Corporation Law against all expenses, costs, judgments, penalties, fines, liability and loss (including attorneys' fees, judgments, fines, ERISA excise taxes or penalties and amount paid in settlement) that any such person reasonably incurs or suffers if he/she is made party (or threatened to be made party) or is otherwise involved in a claim, action, suit, or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that he/she is (or was) a Director or officer of NYLIAC or was serving at NYLIAC's request as a Director, officer, or trustee of another corporation or of a partnership, joint venture, trust or other enterprise, including service with respect to an employee benefit plan. Such persons also have the right to have NYLIAC pay the reasonable expenses (including reasonable attorneys' fees) incurred in the defense of any proceedings in advance of their final disposition, subject to certain conditions. NYLIAC may also, to the extent authorized by its Board of Directors, grant rights to indemnification and to the advancement of expenses to any employee or agent of NYLIAC.

Please refer to Article IX of the Amended and Restated By-Laws of NYLIAC (Item 27 Exhibit (f)(2)(b) hereto) for the full text of the indemnification provisions.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to Directors, officers and controlling persons of the NYLIAC pursuant to the provisions described above, or otherwise, the NYLIAC has been advised that in the opinion of the Securities and Exchange Commission, such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the NYLIAC of expenses incurred or paid by a Director, officer or controlling person of the NYLIAC in the successful defense of any action, suit or proceeding) is asserted by such Director, officer or controlling person in connection with the securities being registered, the NYLIAC will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

------

ITEM 31. PRINCIPAL UNDERWRITERS

(a) Other Activity. Investment companies (other than the Registered Separate Account) for which NYLIFE Distributors LLC is currently acting as underwriter:

NYLIAC Corporate Sponsored Variable Universal Life Separate Account-I

NYLIAC Variable Universal Life Separate Account-I

NYLIAC MFA Separate Account-I

NYLIAC MFA Separate Account-II

NYLIAC Variable Annuity Separate Account-I

NYLIAC Variable Annuity Separate Account-II

NYLIAC Variable Annuity Separate Account-III

NYLIAC VLI Separate Account

New York Life Investments Funds Trust

New York Life Investments Funds

NYLIM VP Funds Trust

(b) Management. The principal business address of each director and officer of NYLIFE Distributors LLC is 30 Hudson Street, Jersey City, NJ 07302.

---

| | |
|:---|:---|
| **Names of Directors & Officers:** | **Positions & Offices with Underwriter:** |
| Lehneis, Kirk C. | Chairman & Senior Managing Director |
| Barros, Jose N. | Chief Executive Officer & Manager |
| Harte, Francis Michael | Senior Managing Director, Manager & Audit Committee Member |
| Akkerman, John W. | Senior Managing Director, New York Life Investments Institutional Sales |
| Micucci, Alison H. | Senior Managing Director – MacKay Shields Institutional Sales |
| Sabal, Craig A. | Senior Managing Director, NYL Investors Institutional Sales |
| Taylor, Todd E. | Senior Managing Director, Retail Annuities |
| Virendra, Sonali | Senior Vice President |
| Millay, Edward P. | Audit Committee Member (Chairman) & Manager |
| Gamble, Michael | Managing Director, Institutional Sales |
| Wickwire, Brian D. | Managing Director, Controller and Chief Operating Officer |
| Bain, Karen A. | Vice President, Tax |
| Goldstein, Andrew | Vice President |
| Sharrier, Elizabeth A. | Corporate Vice President & Assistant Secretary |
| Meade, Colleen A. | Associate General Counsel & Secretary |
| Misra, Manali S. | Assistant General Counsel & Assistant Secretary |
| Andreola, Michael | Director, Compliance and Sales Material Review |
| Howard, Linda M. | &nbsp;&nbsp; Director, Chief Compliance Officer, Anti-Money Laundering Officer & Office of Foreign <br> Assets Control Officer<br>|
| Hansen, Marta | Director, Chief Financial Officer, Principal Operations Officer, & Treasurer |
| Long, Harry S. | Director, Insurance Solutions - Retail Life |

---

(c) Compensation from the Registered Separate Account.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name of**<br> **Principal**<br> **Underwriter**<br>| &nbsp;&nbsp; **New Underwriting**<br> **Discounts and**<br> **Commissions**<br>| &nbsp;&nbsp; **Compensation on**<br> **Redemption or**<br> **Annuitization**<br>| &nbsp;&nbsp; **Brokerage**<br> **Commission**<br>| **Compensation** |
| NYLIFE Distributors Inc. | &nbsp;&nbsp; -0- | &nbsp;&nbsp; -0- | &nbsp;&nbsp; -0- | &nbsp;&nbsp; -0- |

---

ITEM 32. LOCATION OF ACCOUNTS AND RECORDS

All accounts and records required to be maintained by Section 31(a) of the 1940 Act and the rules under it are maintained by NYLIAC at its home office, 51 Madison Avenue, New York, New York 10010; New York Life – Records Division, 110 Cokesbury Road, Lebanon, New Jersey 08833 and New York Life Investment Management LLC, State Street Bank KC, 2323 Grand Blvd, 5<sup>th</sup> Floor, Kansas City, Missouri 64108.

------

ITEM 33. MANAGEMENT SERVICES

Not applicable.

ITEM 34. FEE REPRESENTATION AS TO THE REASONABLENESS OF AGGREGATE FEES AND CHARGES

New York Life Insurance and Annuity Corporation ("NYLIAC"), the sponsoring insurance company of the NYLIAC Variable Annuity Separate Account-IV, hereby represents that the fees and charges deducted under the annuities described in this Registration Statement in the aggregate are reasonable in relation to the services rendered, the expenses expected to be incurred and the risks assumed by NYLIAC.

SECTION 403(b) REPRESENTATIONS

The Registered Separate Account represents that it is relying on a no-action letter dated November 28, 1988, to the American Council of Life Insurance (Ref. No. IP-6-88) regarding Sections 22(e), 27(c)(1), and 27(d) of the Investment Company Act of 1940, in connection with redeemability restrictions on Section 403(b) Policies, and that paragraphs numbered (1) through (4) of that letter will be complied with.

------

SIGNATURES

As required by the Securities Act and the Investment Company Act of 1940, the Registered Separate Account has caused this amendment to the Registration Statement to be signed on its behalf in New York, New York on April 13, 2026.

---

| | |
|:---|:---|
| NYLIAC VARIABLE ANNUITY<br> SEPARATE ACCOUNT – IV<br> (Registered Separate Account) | NYLIAC VARIABLE ANNUITY<br> SEPARATE ACCOUNT – IV<br> (Registered Separate Account) |
| By: | /s/ Matthew Williams<br>Name: Matthew Williams<br> Title: Vice President<br>|
| NEW YORK LIFE INSURANCE AND<br> ANNUITY CORPORATION<br> (Insurance Company) | NEW YORK LIFE INSURANCE AND<br> ANNUITY CORPORATION<br> (Insurance Company) |
| By: | /s/ Matthew Williams<br>Name: Matthew Williams<br> Title: Vice President<br>|

---

As required by the Securities Act, this Amendment to the Registration Statement has been signed by the following persons in the capacities and on the date indicated.

---

| | |
|:---|:---|
| Erik A. Anderson\* | Director |
| Angela Chen\* | Officer (Principal Accounting Officer) |
| Craig L. DeSanto\* | &nbsp;&nbsp; Chairman of the Board, Chief Executive Officer, President & <br> Director (Principal Executive Officer)<br>|
| Eric M. Feldstein\* | Director & Chief Financial Officer (Principal Financial Officer) |
| Thomas A. Hendry\* | Director |
| Jodi L. Kravitz\* | Director |
| Michael K. McDonnell\* | Director |
| Amy Miller\* | Director |
| Craig A. Sabal\* | Director |

---

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

---

| | |
|:---|:---|
| By: | /s/ Matthew Williams<br>Matthew Williams<br> Attorney-in-Fact<br>|
|  | April 13, 2026 |

---

------

\*

Pursuant to Powers of Attorney – Filed herewith.

------

EXHIBIT INDEX

---

| | |
|:---|:---|
| **EXHIBIT NUMBER** | **DESCRIPTION** |
| (h)(24) | [<u>Franklin Templeton Participation Agreement</u>](d101742dex99h24.htm) |
| (h)(25) | [<u>Form of Goldman Sachs Participation Agreement</u>](d101742dex99h25.htm) |
| (i)(24) | [<u>Franklin Templeton Services Agreement</u>](d101742dex99i24.htm) |
| (i)(25) | [<u>Form of Goldman Sachs Administrative Services Agreement</u>](d101742dex99i25.htm) |
| (k)(1) | [<u>Opinion and Consent of Charles A. Whites, Jr., Esq.</u>](d101742dex99k1.htm) |
| (l)(1) | [<u>Consent of PricewaterhouseCoopers LLP</u>](d101742dex99l1.htm) |
| (p)(1) | [<u>Powers of Attorney</u>](d101742dex99p1.htm) |

---

------

## Ex-99.(H)(24)

## Participation Agreement
as of May 1, 2026

Franklin Templeton Variable Insurance Products Trust

Franklin Distributors, LLC

New York Life Insurance and Annuity Corporation

**CONTENTS** 

<u>Section</u> <u>Subject Matter</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Parties and Purpose

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Representations and Warranties

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Purchase and Redemption of Trust Portfolio Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Fees, Expenses, Prospectuses, Proxy Materials and Reports

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Voting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Sales Material, Information and Trademarks

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Indemnification

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Notices

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Termination

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Miscellaneous

**Schedules to this Agreement** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Accounts of the Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Available Portfolios and Classes of Shares of the Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Contracts of the Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. [this schedule is not used]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. Rule 12b-1 Plans of the Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;G. Addresses for Notices

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H. Shared Funding Order

**1.**  **<u>Parties and Purpose</u>** 

This agreement (the "Agreement") is entered by and between certain portfolios and classes thereof, specified below and in Schedule C, of Franklin Templeton Variable Insurance Products Trust, an open-end management investment company organized as a statutory trust under Delaware law (the "Trust"), Franklin Distributors, LLC, a Delaware limited liability company which is the principal underwriter for the Trust (the "Underwriter," and together with the Trust, "we" or "us"), the insurance company identified on Schedule A (the "Company" or "you"), on your own behalf and on behalf of each segregated asset account maintained by you that is listed on Schedule B, as that schedule may be amended from time to time ("Account" or "Accounts").

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The purpose of this Agreement is to entitle you, directly on behalf of the Accounts, to purchase the shares, and classes of shares, of portfolios of the Trust ("Portfolios") that are identified on Schedule C, consistent with the terms of the prospectuses of the Portfolios, solely for the purpose of funding benefits of your variable life insurance policies or variable annuity contracts ("Contracts") that are identified on Schedule D. This Agreement does not authorize any other purchases or redemptions of shares of the Trust.

**2.**  **<u>Representations and Warranties</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1** **Representations and Warranties by You** 

You represent and warrant that:

&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;2.1.1 You are an insurance company duly organized and in good standing under the laws of your state of incorporation.

&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;2.1.2 All of your directors (provided you are not compensating them and they are performing acts within the scope of the usual duties of an employee), officers, employees, and other individuals or entities dealing with the money and/or securities of the Trust are and shall be at all times covered by a blanket fidelity bond or similar coverage for the benefit of the Trust, in an amount not less than $5 million. Such bond shall include coverage for larceny and embezzlement and shall be issued by a reputable bonding company. You agree to make all reasonable efforts to see that this bond or another bond containing such provisions is always in effect, and you agree to notify us in the event that such coverage no longer applies.

&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;2.1.3 Each Account is a duly organized, validly existing segregated asset account under applicable insurance law and interests in each Account are offered exclusively through the purchase of or transfer into a "variable contract" within the meaning of such terms under Section 817 of the Internal Revenue Code of 1986, as amended ("Code") and the regulations thereunder. You will use your best efforts to continue to meet such definitional requirements, and will notify us immediately upon having a reasonable basis for believing that such requirements have ceased to be met or that they might not be met in the future.

&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;2.1.4 Each Account either: (i) has been registered or, prior to any issuance or sale of the Contracts, will be registered as a unit investment trust under the Investment Company Act of 1940 ("1940 Act"); or (ii) has not been so registered in proper reliance upon an exemption from registration under Section 3(c) of the 1940 Act; if the Account is exempt from registration as an investment company under Section 3(c) of the 1940 Act, you will use your best efforts to maintain such exemption and will notify us immediately upon having a reasonable basis for believing that such exemption no longer applies or might not apply in the future.

&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;2.1.5 The Contracts or interests in the Accounts: (i) are or, prior to any issuance or sale will be, registered as securities under the Securities Act of 1933, as amended (the "1933 Act"); or (ii) are not registered because they are properly exempt from registration under Section 3(a)(2) of the 1933 Act or will be offered exclusively in transactions that are properly exempt from registration under Section 4(2) or Regulation D of the 1933 Act, in which case you will make every effort to maintain such exemption and will notify us immediately

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upon having a reasonable basis for believing that such exemption no longer applies or might not apply in the future.

&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;2.1.6 The Contracts: (i) will be sold by broker-dealers, or their registered representatives, who are registered with the Securities and Exchange Commission ("SEC") under the Securities Exchange Act of 1934, as amended (the "1934 Act") and who are members in good standing of the Financial Industry Regulatory Authority ("FINRA"); (ii) will be issued and sold in compliance in all material respects with all applicable federal and state laws; and (iii) will be sold in compliance in all material respects with state insurance suitability requirements and FINRA suitability guidelines. Without limiting the foregoing, you agree that in recommending to a Contract owner the purchase, sale or exchange of any subaccount units under the Contracts, you shall have reasonable grounds for believing that the recommendation is suitable for such Contract owner and, to the extent such recommendations are made by broker-dealers not affiliated with you, you shall require in written agreements with such broker-dealers that they have reasonable grounds for believing that such recommendation is suitable for such Contract owner.

&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;2.1.7 The Contracts currently are treated as annuity contracts or life insurance contracts under applicable provisions of the Code and you will use your best efforts to maintain such treatment; you will notify us immediately upon having a reasonable basis for believing that any of the Contracts have ceased to be so treated or that they might not be so treated in the future.

&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;2.1.8 You will use shares of the Trust only for the purpose of funding benefits of the Contracts through the Accounts.

&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;2.1.9 Contracts will not be sold outside of the United States.

&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;2.1.10 With respect to any Accounts which are exempt from registration under the 1940 Act in reliance on Section 3(c)(1) or Section 3(c)(7) thereof:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.10.1 the principal underwriter for each such Account and any subaccounts thereof is a registered broker-dealer
with the SEC under the 1934 Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.10.2 the shares of the Portfolios of the Trust are and will continue to be the only investment securities held by
the corresponding subaccounts; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.10.3 with regard to each Portfolio, you, on behalf of the corresponding subaccount, will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) vote such shares held by it in the same proportion as the vote of all other holders of such shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) refrain from substituting shares of another security for such shares unless the SEC has

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approved such substitution in the manner provided in Section 26 of the 1940 Act.

&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;2.1.11 As covered financial institutions we, only with respect to Portfolio shareholders, and you each undertake and agree to comply, and to take full responsibility in complying with any and all applicable laws, regulations, protocols and other requirements relating to money laundering including, without limitation, the International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001 (Title III of the USA PATRIOT Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2** **Representations and Warranties by the Trust** 

The Trust represents and warrants that:

&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;2.2.1 It is duly organized and in good standing under the laws of the State of Delaware and its operations are and shall at all times remain in compliance with the laws of the State of Delaware.

&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;2.2.2 All of its directors, officers, employees and others dealing with the money and/or securities of a Portfolio are and shall be at all times covered by a blanket fidelity bond or similar coverage for the benefit of the Trust in an amount not less than the minimum coverage required by Rule 17g-1 or other regulations under the 1940 Act. Such bond shall include coverage for larceny and embezzlement and be issued by a reputable bonding company.

&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;2.2.3 It is registered as an open-end management investment company under the 1940 Act.

&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;2.2.4 Each class of shares of the Portfolios of the Trust is registered under the 1933 Act.

&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;2.2.5 It will amend its registration statement under the 1933 Act and the 1940 Act from time to time as required in order to effect the continuous offering of its shares.

&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;2.2.6 It will comply, in all material respects, with the 1933 and 1940 Acts and the rules and regulations thereunder.

&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;2.2.7 It is currently qualified as a "regulated investment company" under Subchapter M of the Code, it, including its respective employees, affiliates (including, but not limited to the investment adviser to the Trust), representatives and agents, will use best efforts to conduct their activities to maintain, such qualification, and will notify you immediately upon having a reasonable basis for believing that it has ceased to so qualify or that it might not so qualify in the future.

&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;2.2.8 The Trust, including respective employees, affiliates (including, but not limited to the investment adviser to the Trust), representatives and agents, will use its best efforts to comply with the diversification requirements for variable annuity, endowment or life insurance contracts set forth in Section 817(h) of the Code, and the rules and regulations thereunder, including without limitation Treasury Regulation 1.817-5. Upon having a

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reasonable basis for believing any Portfolio has ceased to comply and will not be able to comply within the grace period afforded by Regulation 1.817-5, the Trust will notify you immediately and will take all reasonable steps to adequately diversify the Portfolio to achieve compliance. Without limiting the foregoing, the parties agree and acknowledge that the Trust and its Portfolios are not insurance companies or variable contracts directly subject to Section 817(h) of the Code or the Treasury Regulations promulgated thereunder.

&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;2.2.9 It currently intends for one or more classes of shares (each, a "Class") to make payments to finance its distribution expenses, including service fees, pursuant to a plan ("Plan") adopted under rule 12b-1 under the 1940 Act ("Rule 12b-1"), although it may determine to discontinue such practice in the future subject to the provisions of Schedule F hereto. To the extent that any Class of the Trust finances its distribution expenses pursuant to a Plan adopted under rule 12b-1, the Trust undertakes to comply with any then current SEC interpretations concerning rule 12b-1 or any successor provisions.

&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;2.2.10 It has adopted a compliance program in accordance with Rule 38a-1 under the 1940 Act.

&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;2.2.11 To the extent permitted under federal securities laws and the Trust's compliance policies, the Trust will provide the Company with as much advance notice as is reasonably practicable of any material change affecting the Portfolios (including, but not limited to, any material change in the registration statement or prospectus affecting the Portfolios) and any proxy solicitation affecting the Portfolios and to the extent reasonably practicable, work with the Company in order to implement any such change in an orderly manner, recognizing the expenses of changes and making reasonable efforts to attempting to minimize such expenses, where possible.

&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;2.2.12 Notwithstanding anything to the contrary set forth elsewhere in this Agreement, the Trust shall use commercially reasonable efforts to ensure that it conducts its business in a manner reasonably designed to ensure that no Contract owner shall be treated as the owner of any interest in a Portfolio for U.S. federal income tax purposes under the "investor control" doctrine, as described in Revenue Rulings 77-85, 80-274, 81-225, 82-54, 2003-91 and 2003-92(the "Investor Control Doctrine").

Without limiting the foregoing, the Trust shall use commercially reasonable efforts to cause the investment adviser to implement controls reasonably designed to prevent any employee of the investment adviser who gives investment advice to, or who makes investment decisions relating to, a Portfolio from (a) owning a Contract funded by the Portfolio and (b) communicating with any Contract owner regarding the quality or rate of return of any specific investment held by the Portfolio, or regarding any investment decision with respect to the Portfolio, portfolio management decision with respect to the Portfolio, or disposition of assets of the Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3** **Representations and Warranties by the Underwriter** 

The Underwriter represents and warrants that:

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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;2.3.1 It is registered as a broker dealer with the SEC under the 1934 Act, and is a member in good standing of FINRA. The Underwriter further represents that it will sell and distribute the Trust shares in accordance with all applicable securities laws applicable to it, including without limitation the 1933 Act, the 1934 Act, and the 1940 Act.

&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;2.3.2 Each investment adviser (each, an "Adviser") of a Portfolio, as indicated in the current prospectus of the Portfolio, is duly registered as an investment adviser under the Investment Advisers Act of 1940, as amended or exempt from such registration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4** **Warranty and Agreement by Both You and Us** 

We received an order from the SEC dated November 16, 1993 (file no. 812-8546), which was amended by a notice and an order we received on September 17, 1999 and October 13, 1999, respectively (file no. 812-11698) (collectively, the "Shared Funding Order," attached to this Agreement as Schedule H). The Shared Funding Order grants exemptions from certain provisions of the 1940 Act and the regulations thereunder to the extent necessary to permit shares of the Trust to be sold to and held by variable annuity and variable life insurance separate accounts of both affiliated and unaffiliated life insurance companies and qualified pension and retirement plans outside the separate account context.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.1 You and we both warrant and agree that both you and we will comply with the "Applicants' Conditions" prescribed in the Shared Funding Order as though such conditions were set forth verbatim in this Agreement, including, without limitation, the provisions regarding potential conflicts of interest between the separate accounts which invest in the Trust and regarding contract owner voting privileges. In order for the Trust's Board of Trustees to perform its duty to monitor for conflicts of interest, you agree to inform us of the occurrence of any of the events specified in condition 2 of the Shared Funding Order to the extent that such event may or does result in a material conflict of interest as defined in that order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.2 As covered financial institutions we, only with respect to Portfolio shareholders, and you each undertake and agree to comply, and to take full responsibility in complying with any and all applicable laws, regulations, protocols and other requirements relating to money laundering including, without limitation, the International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001 (Title III of the USA PATRIOT Act).

**3.**  **<u>Purchase and Redemption of Trust Portfolio Shares</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1** **Availability of Trust Portfolio Shares** 

&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;3.1.1 We will make shares of the Portfolios available to the Accounts for the benefit of the Contracts. The shares will be available for purchase by the Accounts at the net asset value per share next computed after we (or our agent, or you as our designee) receive a purchase order, as established in accordance with the provisions of the then current prospectus of the Trust. All such orders are subject to acceptance by us and by the Portfolio or its transfer agent, and become effective only upon confirmation by us. Notwithstanding the foregoing, the Trust's Board of Trustees ("Trustees") may refuse to sell shares of any Portfolio to any person, or may suspend or terminate the offering of shares of any Portfolio if such action is required by

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law or by regulatory authorities having jurisdiction or if, in the sole discretion of the Trustees, they deem such action to be in the best interests of the shareholders of such Portfolio.

&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;3.1.2 Without limiting the other provisions of this Section 3.1, among other delegations by the Trustees, the Trustees have determined that there is a significant risk that the Trust and its shareholders may be adversely affected by investors with short term trading activity and/or whose purchase and redemption activity follows a market timing pattern as defined in the prospectus for the Trust, and have authorized the Trust, the Underwriter and the Trust's transfer agent to adopt procedures and take other action (including, without limitation, rejecting specific purchase orders in whole or in part) as they deem necessary to reduce, discourage, restrict or eliminate such trading and/or market timing activity. You agree to use reasonable commercial efforts to review and identify activity that might be construed as market timing and to abide by the Trust's practices and policies by (i) restricting activity of any Contract owner identified by the Trust as a market timer upon receiving notice and request for such restriction from the Trust or (ii) taking any other action as may be otherwise reasonably requested by the Trust. You further agree to cooperate fully in the implementation and fulfillment of the Trust's obligations pursuant to Rule 22c-2 under the 1940 Act.

&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;3.1.3 We agree that shares of the Trust will be sold only to: (i) life insurance companies which have entered into fund participation agreements with the Trust ("Participating Insurance Companies") and their separate accounts or to qualified pension and retirement plans in accordance with the terms of the Shared Funding Order; and (ii) investment companies in the form of funds of funds. No shares of any Portfolio will be sold to the general public.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2** **Manual or Automated Portfolio Share Transactions** 

&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;3.2.1 Section 3.3 of this Agreement shall govern and Section 3.4 shall not be operative, unless we receive from you at the address provided in the next sentence, written notice that you wish to communicate, process and settle purchase and redemptions for shares (collectively, "share transactions") via the Fund/SERV and Networking systems of the National Securities Clearing Corporation ("NSCC"). The address for you to send such written notice shall be: Retirement Services, Franklin Templeton Investments, 910 Park Place, 1<sup>st</sup> Floor, San Mateo, California 94403-1906. After giving ten (10) days' advance written notice at the address provided in the previous sentence of your desire to use NSCC processing, Section 3.4 of this Agreement shall govern and Section 3.3 shall not be operative.

&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;3.2.2 At any time when, pursuant to the preceding paragraph, Section 3.4 of this Agreement governs, any party to this Agreement may send written notice to the other parties that it chooses to end the use of the NSCC Fund/SERV and Networking systems and return to manual handling of share transactions. Such written notice shall be sent: (i) if from you to us, to the address provided in the preceding paragraph; (ii) if from us to you, to your address in Schedule G of this Agreement. After giving ten (10) days' advance written notice at the address as provided in the previous sentence, Section 3.3 of this Agreement shall govern and Section 3.4 shall not be operative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3** **Manual Purchase and Redemption** 

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.1 You are hereby appointed as our designee for the sole purpose of receiving from Contract owners purchase and exchange orders and requests for redemption resulting from investment in and payments under the Contracts that pertain to subaccounts that invest in Portfolios ("Instructions"). "Business Day" shall mean any day on which the New York Stock Exchange is open for trading and on which the Trust calculates its net asset value pursuant to the rules of the SEC and its current prospectus. "Close of Trading" shall mean the close of trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. You represent and warrant that all Instructions transmitted to us for processing on or as of a given Business Day (the "Designated Day") shall have been received in proper form and time stamped by you prior to the Close of Trading on the Designated Day. Such Instructions shall receive the Portfolio share price next calculated following the Close of Trading on the Designated Day (the "Designated Day Price"), provided that we receive the Instructions from you before 9:00 a.m. Eastern Time on the Business Day following the Designated Day (the "Submission Time"). Any such Instructions that we receive after the Submission Time may, but are not guaranteed to, receive the Designated Day Price. You assume responsibility for any loss to a Portfolio caused by our receipt of Instructions after the Submission Time, including but not limited to, losses caused by such Instructions receiving the Designated Day Price, or any cancellation or correction made subsequent to the Submission Time. You will immediately pay the amount of such loss to a Portfolio upon notification by us. You represent and warrant that you have, maintain and periodically test, procedures and systems in place reasonably designed to prevent Instructions received after the Close of Trading on a Designated Day from being executed with Instructions received before the Close of Trading on that Designated Day.

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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;3.3.2 We shall calculate the net asset value per share of each Portfolio on each Business Day, and shall communicate these net asset values to you or your designated agent on a daily basis as soon as reasonably practical after the calculation is completed (normally by 6:30 p.m. Eastern Time).

&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;3.3.3 You shall submit payment for the purchase of shares of a Portfolio on behalf of an Account in federal funds transmitted by wire to the Trust or to its designated custodian, which must receive such wires no later than the close of the Reserve Bank, which is currently 6:00 p.m. Eastern Time, on the same Business Day on which such purchase orders are transmitted to us for processing on that Business Day in conformance with section 3.3.1.

&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;3.3.4 We will redeem any full or fractional shares of any Portfolio for cash, unless otherwise agreed to by the parties, when requested by you on behalf of an Account, at the net asset value next computed after receipt by us (or our agent or you as our designee) of the request for redemption, as established in accordance with the provisions of the then current prospectus of the Trust. We shall make payment for such shares in the manner we establish from time to time, but in no event shall payment be delayed for a greater period than is permitted by the 1940 Act.

&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;3.3.5 Issuance and transfer of the Portfolio shares will be by book entry only. Stock certificates will not be issued to you or the Accounts. Portfolio shares purchased from the Trust will be recorded in the appropriate title for each Account or the appropriate subaccount of each Account. The Trust shall furnish to you the CUSIP number assigned to each Portfolio.

&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;3.3.6 We shall furnish, on or before the ex-dividend date, notice to you of any income dividends or capital gain distributions payable to the Accounts on the shares of any Portfolio. You hereby elect to receive all such income dividends and capital gain distributions as are payable on shares of a Portfolio in additional shares of that Portfolio, and you reserve the right to change this election in the future. We will notify you of the number of shares so issued as payment of such dividends and distributions.

&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;3.3.7 Each party to this Agreement agrees that, in the event of a material error resulting from incorrect information or confirmations, the parties will seek to comply in all material respects with the provisions of applicable federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4** **Automated Purchase and Redemption** 

&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;3.4.1 "Fund/SERV" shall mean NSCC's Mutual Fund Settlement, Entry and Registration Verification System, a system for automated, centralized processing of mutual fund purchase and redemption orders, settlement, and account registration; "Networking" shall mean NSCC's system that allows mutual funds and life insurance companies to exchange account level information electronically; and "Settling Bank" shall mean the entity appointed by the Trust or you, as applicable, to perform such settlement services on behalf of the Trust and you, as applicable, which entity agrees to abide by NSCC's then current rules and procedures insofar as they relate to same day funds settlement. In all cases, processing and settlement of share transactions shall be done in a manner consistent with applicable law.

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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;3.4.2 You are hereby appointed as our designee for the sole purpose of receiving from Contract owners purchase and exchange orders and requests for redemption resulting from investment in and payments under the Contracts that pertain to subaccounts that invest in Portfolios ("Instructions"). "Business Day" shall mean any day on which the New York Stock Exchange is open for trading and on which the Trust calculates its net asset value pursuant to the rules of the SEC and its current prospectus. "Close of Trading" shall mean the close of trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. Upon receipt of Instructions, and upon your determination that there are good funds with respect to Instructions involving the purchase of shares, you will calculate the net purchase or redemption order for each Portfolio.

&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;3.4.3 On each Business Day, you shall aggregate all purchase and redemption orders for shares of a Portfolio that you received prior to the Close of Trading. You represent and warrant that all orders for net purchases or net redemptions derived from Instructions received by you and transmitted to Fund/SERV for processing on or as of a given Business Day (the "Designated Day") shall have been received in proper form and time stamped by you prior to the Close of Trading on the Designated Day. Such orders shall receive the Portfolio share price next calculated following the Close of Trading on the Designated Day (the "Designated Day Price"), provided that we receive Instructions from Fund/SERV by 9:00 a.m. Eastern Time on the Business Day following the Designated Day (the "Submission Time"). Any such Instructions that we receive after the Submission Time may, but are not guaranteed to, receive the Designated Day Price. You assume responsibility for any loss to a Portfolio caused by our receipt of Instructions after the Submission Time including, but not limited to, losses caused by such Instructions receiving the Designated Day Price, or any cancellation or correction made subsequent to the Submission Time. You will immediately pay the amount of such loss to a Portfolio upon notification by us. You represent and warrant that you have, maintain and periodically test, procedures and systems in place reasonably designed to prevent Instructions received after the Close of Trading on a Designated Day from being executed with Instructions received before the Close of Trading on that Designated Day.

&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;3.4.4 We shall calculate the net asset value per share of each Portfolio on each Business Day, and shall furnish to you through NSCC's Networking or Mutual Fund Profile System: (i) the most current net asset value information for each Portfolio; and (ii) in the case of fixed income funds that declare daily dividends, the daily accrual or the interest rate factor. All such information shall be furnished to you by 6:30 p.m. Eastern Time on each Business Day or at such other time as that information becomes available.

&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;3.4.5 You will wire payment for net purchase orders by the Trust's NSCC Firm Number, in immediately available funds, to an NSCC settling bank account designated by you in accordance with NSCC rules and procedures on the same Business Day such purchase orders are communicated to NSCC. For purchases of shares of daily dividend accrual funds, those shares will not begin to accrue dividends until the day the payment for those shares is received.

&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;3.4.6 We will redeem any full or fractional shares of any Portfolio for cash, unless otherwise agreed to by the parties, when requested by you on behalf of an Account, at the net asset value next computed after receipt by us (or our agent or you as our designee) of the request for redemption, as established in accordance with the provisions of the then current prospectus of the Trust. NSCC will wire payment for net redemption orders by the Trust, in

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immediately available funds, to an NSCC settling bank account designated by you in accordance with NSCC rules and procedures on the Business Day such redemption orders are communicated to NSCC, except as provided in the Trust's prospectus and statement of additional information.

&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;3.4.7 Issuance and transfer of the Portfolio shares will be by book entry only. Stock certificates will not be issued to you or the Accounts. Portfolio shares purchased from the Trust will be recorded in the appropriate title for each Account or the appropriate subaccount of each Account. The Trust shall furnish to you the CUSIP number assigned to each Portfolio

&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;3.4.8 We shall furnish through NSCC's Networking or Mutual Fund Profile System on or before the ex-dividend date, notice to you of any income dividends or capital gain distributions payable to the Accounts on the shares of any Portfolio. You hereby elect to receive all such income dividends and capital gain distributions as are payable on shares of a Portfolio in additional shares of that Portfolio, and you reserve the right to change this election in the future. We will notify you of the number of shares so issued as payment of such dividends and distributions.

&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;3.4.9 All orders are subject to acceptance by Underwriter and become effective only upon confirmation by Underwriter. Underwriter reserves the right: (i) not to accept any specific order or part of any order for the purchase or exchange of shares through Fund/SERV; and (ii) to require any redemption order or any part of any redemption order to be settled outside of Fund/SERV, in which case the order or portion thereof shall not be "confirmed" by Underwriter, but rather shall be accepted for redemption in accordance with Section 3.4.11 below.

&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;3.4.10 All trades placed through Fund/SERV and confirmed by Underwriter via Fund/SERV shall settle in accordance with Underwriter's profile within Fund/SERV applicable to you. Underwriter agrees to provide you with account positions and activity data relating to share transactions via Networking.

&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;3.4.11 If on any specific day you or Underwriter are unable to meet the NSCC deadline for the transmission of purchase or redemption orders for that day, a party may at its option transmit such orders and make such payments for purchases and redemptions directly to you or us, as applicable, as is otherwise provided in the Agreement; provided, however, that we must receive written notification from you by 9:00 a.m. Eastern Time on any day that you wish to transmit such orders and/or make such payments directly to us.

&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;3.4.12 In the event that you or we are unable to or prohibited from electronically communicating, processing or settling share transactions via Fund/SERV, you or we shall notify the other, including providing the notification provided above in Section 3.4.11. After all parties have been notified, you and we shall submit orders using manual transmissions as are otherwise provided in the Agreement.

&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;3.4.13 These procedures are subject to any additional terms in each Portfolio's prospectus and the requirements of applicable law. The Trust reserves the right, at its discretion and without notice, to suspend the sale of shares or withdraw the sale of shares of any Portfolio.

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The Trust will use best efforts to provide advance notice to you of any suspension or withdrawal of the sale of shares of any Portfolio.

&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;3.4.14 Each party to the Agreement agrees that, in the event of a material error resulting from incorrect information or confirmations, the parties will seek to comply in all material respects with the provisions of applicable federal securities laws.

&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;3.4.15 You and Underwriter represent and warrant that each: (a) has entered into an agreement with NSCC; (b) has met and will continue to meet all of the requirements to participate in Fund/SERV and Networking; (c) intends to remain at all times in compliance with the then current rules and procedures of NSCC, all to the extent necessary or appropriate to facilitate such communications, processing, and settlement of share transactions; and (d) will notify the other parties to this Agreement if there is a change in or a pending failure with respect to its agreement with NSCC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 **Monthly Statements.** We shall use best efforts to provide monthly statements of account as of the end of each month for all of Company's accounts by the fifteenth (15) Business Day of the following month.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 **Pricing Errors.** The parties acknowledge that certain events, including, but not limited to, fair valuation, computer system failures, and natural catastrophes may delay the delivery of or require revision to the NAV. In the event of an error in the computation of a Portfolio's NAV per share or any dividend or capital gain distribution, (each a "pricing error"), the Underwriter shall notify the Company as soon as possible after discovery of the error. Such notification may be verbal, but shall be confirmed promptly in writing. A pricing error shall be corrected as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) If the pricing error results in a difference between the erroneous NAV or dividend or capital gain per share
and the correct NAV or dividend or capital gain per share of less than $0.01 per share, then no corrective action need be taken.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) If the pricing error results in a difference between the erroneous NAV or dividend or capital gain per share
and the correct NAV or dividend or capital gain per share equal to or greater than $0.01 per share, but less than 1/2 of 1% of the designated Portfolio's NAV at the time of the error, then the Trust shall take all necessary steps to obtain
reimbursement for any loss from any party responsible for pricing error ("Responsible Party") after taking into consideration any positive effect of such error; however, no adjustments to a Contract owner's accounts need be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) If the pricing error results in a difference between the erroneous NAV or dividend or capital gain per share
and the correct NAV or dividend or capital gain per share equal to or greater than 1/2 of 1% of the Portfolio's NAV at the time of the error, then the Trust shall take all necessary steps to obtain reimbursement for any loss from the
Responsible Party (without taking into consideration any positive effect of such error) and shall reimburse the Company for the reasonable administrative and/or system costs of adjustments made to correct a Contract owner's accounts.

With respect to (c) above, if an adjustment is necessary to correct a pricing error that has caused Contract owners to receive less than the amount to which they are entitled, the number

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of shares of the applicable sub-account of such Contract owners will be adjusted and the amount of any underpayments shall be credited by the Trust to the Company for crediting of such amounts to the applicable Contract owner accounts, and the Company shall be reimbursed for any reasonable expenses incurred related to correction of the NAV (including correcting Contract owner account) except under circumstances in which the Company is the Responsible Party. Upon notification by the Trust of any overpayment due to a pricing error, the Company shall promptly remit to the Trust any overpayment that has not been paid to Contract owners and shall be reimbursed by the Trust for any reasonable expenses incurred related to such actions except under circumstances in which the Company is the Responsible Party. Except under circumstances in which the Company is the Responsible Party, in no event shall the Company be liable to Contract owners for any such adjustments or underpayment amounts.

The standards set forth in this Section 3.6 are based on the parties' understanding of the views expressed by the staff of the SEC as of the date of this Agreement. In the event the views of the SEC staff are later modified or superseded by SEC or judicial interpretation, the parties shall amend the foregoing provisions of this Agreement to comport with the appropriate applicable standards, on terms mutually satisfactory to all parties.

**4.**  **<u>Fees, Expenses, Prospectuses, Proxy Materials and Reports</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 We shall pay no fee or other compensation to you under this Agreement except as provided on Schedule F, if attached.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 We shall prepare and be responsible for filing with the SEC, and any state regulators requiring such filing, all shareholder reports, notices, proxy materials (or similar materials such as voting instruction solicitation materials), prospectuses (including statutory and summary prospectuses) and statements of additional information of the Trust. We shall bear the costs of preparation and filing of the documents listed in the preceding sentence, registration and qualification of the Trust's shares of the Portfolios.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 We shall use reasonable efforts to provide you, on a timely basis, with such information about the Trust, the Portfolios and each Adviser, in such form as you may reasonably require, as you shall reasonably request in connection with the preparation of disclosure documents and annual and semi-annual reports pertaining to the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 "<u>Designated Portfolio Document</u>" means the following documents we create with respect to each Portfolio and provide to you: (1) a Portfolio's prospectus, including a summary prospectus (together, "Prospectus") if the Trust chooses to create one for a Portfolio and we and you have signed the necessary Participation Agreement Addendum; (2) its annual report to shareholders; (3) its semi-annual report to shareholders; (4) amendments or supplements to any of the foregoing if we direct you to deliver them to Contract owners; and (5) other shareholder communications including, without limitation, proxy statements, if we direct you to deliver them to Contract owners.

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"<u>Document Event</u>" means (1) with respect to the Prospectus (including the statement of additional information), the effectiveness of a new annual post-effective amendment to the Prospectus to update financial statements and make other disclosure changes or other post-effective amendment to the Prospectus; (2) with respect to the Trust's annual report and semi-annual reports to shareholders, the Trust's creation of reports intended to satisfy the requirements of Section 30(a) of the 1940 Act applicable to the Trust; or (3) with respect to amendments or supplements to any of the foregoing or other shareholder communications, the Trust's creation of such documents and provision of them to you.

"<u>Printing Expenses</u>" means expenses of the physical creation of Designated Portfolio Documents, and not of their distribution to Contract owners (including, without limitation, mailing and postage expenses) or the provision of other services.

Each time there is a Document Event with respect to a Designated Portfolio Document we shall, at your option, provide you with one of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) one copy of the applicable Designated Portfolio Document for each Contract owner with investments allocated
to a subaccount corresponding to the Portfolio before the date of the Designated Portfolio Document (the "Contract Owner Recipients"); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) a copy suitable for reproduction of such Designated Portfolio Document, in which case we will reimburse you,
as provided below under "Reimbursement Procedures," for Printing Expenses you incur to create Designated Portfolio Documents in sufficient quantity so that one such Designated Portfolio Document is available for you to have delivered to
each Contract Owner Recipient; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) a copy of the Designated Portfolio Document in electronic format that is suitable for website posting and in
a format, or formats, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) are both human-readable and capable of being printed on paper in human-readable format (in accordance with paragraph (b)(3) of Rule 30e-3 and paragraph (h)(2)(i) of Rule 498A);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) permit persons accessing the Portfolio's statutory prospectus, summary prospectus, and SAI to move
directly back and forth between each section heading in a table of contents of such document and the section of the document referenced in that section heading (that is, these documents must include linking, in accordance with paragraph (h)(2)(ii)
of Rule 498A);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) are compliant with applicable provisions of the Americans with Disabilities Act ("ADA
Compliant"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) permit persons accessing the Designated Portfolio Documents to permanently retain, free of charge, an
electronic version of such Designated Portfolio Documents that meet the requirements of subparagraphs (h)(2)(i) and (ii) of Rule 498A (in accordance with

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paragraph (h)(3) of Rule 498A).

*<u>Reimbursement Procedures</u>*

*<u>Routine Reimbursements</u>.* Within six months following the delivery date of the Designated Portfolio Document ("Delivery Date"), we must receive your request for reimbursement and: (i) a statement of the number of Contract Owner Recipients; (ii) copies of all printing company invoices applicable to the Printing Expenses that you request we reimburse; (iii) a description of the methodology used to determine the amount of reimbursement requested; and (iv) your representation that the reimbursement request covers only Printing Expenses covered by Section 4.4 of this Agreement; the date we have received all these items is the "Request Date." If we are able to validate your request based on the information you provided as well as, among other things we believe to be appropriate, our analysis of your previous reimbursement requests, if applicable, and/or third party industry benchmarking information, then we will reimburse you within sixty days of the Request Date.

*<u>Reimbursements requiring additional information</u>*. If we cannot validate your reimbursement request based on the information you have provided to us and our analysis described in the preceding paragraph, then we will request additional information from you and work with you to validate your request.

*<u>Expenses not subject to reimbursement</u>*. We will not reimburse expenses related to: (1) creation or provision of any Designated Portfolio Document for or to a person who is not a Contract Owner Recipient of such document; (2) creation or provision of any Designated Portfolio Document to a person accompanying, or at the time of the delivery of, a confirmation of their purchase of or exchange into subaccount shares corresponding to a Portfolio; (3) posting any Designated Portfolio Document on your website; or (4) electronic filing of Designated Portfolio Documents or other documents with the Securities and Exchange Commission (using its EDGAR or other system).

*<u>Statement of Additional Information</u>*. We shall provide you with a copy of the Trust's current statement of additional information, including any amendments or supplements to it ("SAI), in a form suitable for reproduction , but we will not pay Printing Expenses or other expenses with respect to the SAI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 We shall use best efforts to provide the statutory and summary prospectuses and statements of additional information of the Trust to the Company no later than fourteen (14) business days prior to May 1 of each year (to facilitate the required website posting) and provide updated versions as necessary in order to facilitate a continuous offering of the Trust's shares of the Portfolios. We shall use best efforts to provide the semi-annual and annual shareholder reports to the Company no later than seven (7) business days before the date each time the

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shareholder reports are required to be posted by Rule 30e-3 (to facilitate the required website posting).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 We shall provide you, at our expense, with copies of any Trust-sponsored proxy materials in such quantity as you shall reasonably require for distribution to Contract owners who are invested in a designated subaccount. You shall bear the costs of distributing proxy materials (or similar materials such as voting solicitation instructions) to Contract owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 You assume sole responsibility for ensuring that the Trust's Designated Portfolio Documents and proxy materials are delivered to Contract owners in accordance with applicable federal and state securities laws. For Designated Portfolio Documents and other Trust materials provided by you on your website or by other electronic means, you assume sole responsibility for ensuring that such delivery is in compliance with applicable state and federal requirements pertaining to electronic delivery, including consent, access, searchability by users, notice and evidence of delivery.

**5.**  **<u>Voting</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 All Participating Insurance Companies shall have the obligations and responsibilities regarding pass-through voting and conflicts of interest corresponding to those contained in the Shared Funding Order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 If and to the extent required by law, you shall: (i) solicit voting instructions from Contract owners; (ii) vote the Trust shares in accordance with the instructions received from Contract owners; and (iii) vote Trust shares owned by subaccounts for which no instructions have been received from Contract owners in the same proportion as Trust shares of such Portfolio for which instructions have been received from Contract owners; so long as and to the extent that the SEC continues to interpret the 1940 Act to require pass-through voting privileges for variable contract owners. You reserve the right to vote Trust shares held in any Account in your own right, to the extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 So long as, and to the extent that, the SEC interprets the 1940 Act to require pass-through voting privileges for Contract owners, you shall provide pass-through voting privileges to Contract owners whose Contract values are invested, through the Accounts, in shares of one or more Portfolios of the Trust. We shall require all Participating Insurance Companies to calculate voting privileges in the same manner and you shall be responsible for assuring that the Accounts calculate voting privileges in the manner established by us. With respect to each Account, you will vote shares of each Portfolio of the Trust held by an Account and for which no timely voting instructions from Contract owners are received in the same proportion as those shares held by that Account for which voting instructions are received. You and your agents will in no way recommend or oppose or interfere with the solicitation of proxies for Portfolio shares held to fund the Contracts without our prior written consent, which consent may be withheld in our sole discretion.

**6.**  **<u>Sales Material, Information and Trademarks</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 "<u>Sales Literature/ Promotional Material</u>" includes, but is not limited to, portions of the following that use any logo or other trademark related to the Trust, or Underwriter or its

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affiliates, or refer to the Trust: advertisements (such as material published or designed for use in a newspaper, magazine or other periodical, radio, television, telephone or tape recording, videotape display, signs or billboards, motion pictures, web-sites and other electronic communications or other public media), sales literature (*i.e.*, any written communication distributed or made generally available to customers or the public, including brochures, circulars, research reports, market letters, form letters, seminar texts, reprints or excerpts or any other advertisement, sales literature or published article or electronic communication), educational or training materials or other communications distributed or made generally available to some or all agents or employees in any media, and disclosure documents, shareholder reports and proxy materials. "<u>Disclosure Documents</u>" shall mean each item of the following if prepared, approved or used by you and relating to a Contract, an Account, or a Portfolio, and any amendments or revisions to such document: registration statements, prospectuses, statements of additional information, private placement memoranda, retirement plan disclosure information or other disclosure documents or similar information, as well as any solicitation for voting instructions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 You may use the name of the Trust and trademarks and the logo of the Underwriter in Sales Literature/Promotional Material as reasonably necessary to carry out your performance and obligations under this Agreement provided that you comply with the provisions of this Agreement. You agree to abide by any reasonable use guidelines regarding use of such trademarks and logos that we may give from time to time. You shall, as we may request from time to time, promptly furnish, or cause to be furnished to us or our designee, one complete copy of each item of the following: (i) Sales Literature/Promotional Material prepared, approved or used by you; and (ii) Disclosure Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 You agree, represent and warrant that you are solely responsible for any Sales Literature/ Promotional Material prepared by you and that such material will: (a) conform to all requirements of any applicable laws or regulations of any government or authorized agency having jurisdiction over the offering or sale of shares of the Portfolios or Contracts; (b) be solely based upon and not contrary to or inconsistent with the written information or materials provided to you by us or a Portfolio, including the Trust's prospectus and statement of additional information; and (c) be made available promptly to us upon our request. You agree to file any Sales Literature/Promotional Material prepared by you with FINRA, or other applicable legal or regulatory authority, within the timeframes that may be required from time to time by FINRA or such other legal or regulatory authority. Unless otherwise expressly agreed to in writing, it is understood that we will neither review nor approve for use any materials prepared by you and will not be materially involved in the preparation of, or have any

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responsibility for, any such materials prepared by you. You are not authorized to modify or translate any materials we have provided to you.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 Other than naming you as a Trust shareholder, we shall not give any information or make any representations or statements on behalf of you or concerning you, the Accounts or the Contracts other than information or representations contained in and accurately derived from Disclosure Documents (as such Disclosure Documents may be amended or supplemented from time to time), or in materials approved by you for distribution, including Sales Literature/ Promotional Material, except as required by legal process or regulatory authorities or with your written permission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 Except as provided in Section 6.2, you shall not use any designation comprised in whole or part of the names or marks "Franklin" or "Templeton" or any logo or other trademark relating to the Trust or the Underwriter without prior written consent, and upon termination of this Agreement for any reason, you shall cease all use of any such name or mark as soon as reasonably practicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 You shall furnish to us ten (10) Business Days prior to its first submission to the SEC or its staff, any request or filing for no-action assurance or exemptive relief naming, pertaining to, or affecting, the Trust, the Underwriter or any of the Portfolios.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8 You agree that any posting of Designated Portfolio Documents on your website or use of Designated Portfolio Documents in any other electronic format will result in the Designated Portfolio Documents: (i) appearing identical to the hard copy printed version or .pdf format file provided to you by us (except that you may reformat .pdf format prospectus files in order to delete blank pages and to insert .pdf format prospectus supplement files provided by us to you); (ii) being clearly associated with the particular Contracts in which they are available and posted in close proximity to the applicable Contract prospectuses; (iii) having no less prominence than prospectuses of any other underlying funds available under the Contracts; (iv) in compliance with any statutory prospectus delivery requirements and (v) being used in an authorized manner. Notwithstanding the above, you understand and agree that you are responsible for ensuring that participation in the Portfolios, and any website posting, or other use, of the Designated Portfolio Documents is in compliance with this Agreement and applicable state and federal securities and insurance laws and regulations, including as they relate to paper or electronic delivery or use of fund prospectuses. We reserve the right to inspect and review your website if any Designated Portfolio Documents and/or other Trust documents are posted on your website and you shall, upon our reasonable request, provide us timely access to your website materials to perform such inspection and review.

In addition, you agree to be solely responsible for maintaining and updating the Designated Portfolio Documents' .pdf files and removing and/or replacing promptly any outdated prospectuses and other documents, as necessary, ensuring that any accompanying instructions by us, for using or stopping use, are followed. You agree to designate and make available to us a person to act as a single point of communication contact for these purposes. We are not responsible for any additional costs or additional liabilities that may be incurred as a result of your election to place the Designated Portfolio Documents on your website.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9 Each of your registered representatives, agents, independent contractors and employees, as applicable, may have access to our websites at franklintempleton.com, and such other URLs through which we may permit you to conduct business concerning the Portfolios from time to time (referred to collectively as the "Site") as provided herein: (i) upon registration by such individual on a Site, (ii) if you cause a Site Access Request Form (an "Access Form") to be signed by your authorized supervisory personnel and submitted to us, as a Schedule to, and legally a part of, this Agreement, and (iii) if you provide such individual with the necessary access codes or other information necessary to access the Site through any generic or firm-wide authorization we may grant you from time to time. Upon receipt by us of a completed registration submitted by an individual through the Site or a signed Access Form referencing such individual, we shall be entitled to rely upon the representations contained therein as if you had made them directly hereunder and we will issue a user identification, express number and/or password (collectively, "Access Code"). Any person to whom we issue an Access Code or to whom you provide the necessary Access Codes or other information necessary to access the Site through any generic or firm-wide authorization we may grant you from time to time shall be an "Authorized User."

We shall be entitled to assume that such person validly represents you and that all instructions received from such person are authorized, in which case such person will have access to the Site, including all services and information to which you are authorized to access on the Site. All inquiries and actions initiated by you (including your Authorized Users) are your responsibility, are at your risk and are subject to our review and approval (which could cause a delay in processing). You agree that we do not have a duty to question information or instructions you (including Authorized Users) give to us under this Agreement, and that we are entitled to treat as authorized, and act upon, any such instructions and information you submit to us. You agree to take all reasonable measures to prevent any individual other than an Authorized User from obtaining access to the Site. You agree to inform us if you wish to restrict or revoke the access of any individual Access Code. If you become aware of any loss or theft or unauthorized use of any Access Code, you agree to contact us immediately. You also agree to monitor your (including Authorized Users') use of the Site to ensure the terms of this Agreement are followed. You also agree that you will comply with all policies and agreements concerning Site usage, including without limitation the Terms of Use Agreement(s) posted on the Site ("Site Terms"), as may be revised and reposted on the Site from time to time, and those Site Terms (as in effect from time to time) are a part of this Agreement. Your duties under this section are considered "services" required under the terms of this Agreement. You acknowledge that the Site is transmitted over the Internet on a reasonable efforts basis and we do not warrant or guarantee their accuracy, timeliness, completeness, reliability or non-infringement. Moreover, you acknowledge that the Site is provided for informational purposes only, and is not intended to comply with any requirements established by any regulatory or governmental agency.

**7.**  **<u>Indemnification</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1** **Indemnification By You** 

&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;7.1.1 You agree to indemnify and hold harmless the Underwriter, the Trust and each of its Trustees, officers, employees and agents and each person, if any, who controls

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the Trust within the meaning of Section 15 of the 1933 Act (collectively, the "Indemnified Parties" and individually the "Indemnified Party" for purposes of this Section 7) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with your written consent, which consent shall not be unreasonably withheld) or expenses (including the reasonable costs of investigating or defending any alleged loss, claim, damage, liability or expense and reasonable legal counsel fees incurred in connection therewith) (collectively, "Losses"), to which the Indemnified Parties may become subject under any statute or regulation, or at common law or otherwise, insofar as such Losses are related to the sale or acquisition of shares of the Trust or the Contracts and

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1.1 arise out of or are based upon any untrue statements or alleged untrue statements of any material fact contained in a Disclosure Document for the Contracts or in the Contracts themselves or in sales literature generated or approved by you on behalf of the Contracts or Accounts (or any amendment or supplement to any of the foregoing) (collectively, "Company Documents" for the purposes of this Section 7), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this indemnity shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and was accurately derived from written information furnished to you by or on behalf of the Trust for use in Company Documents or otherwise for use in connection with the sale of the Contracts or Trust shares; or

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1.2 arise out of or result from statements or representations (other than statements or representations contained in and accurately derived from Trust Documents as defined below in Section 7.2) or wrongful conduct of you or persons under your control, with respect to the sale or acquisition of the Contracts or Trust shares; or

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1.3 arise out of or result from any untrue statement or alleged untrue statement of a material fact contained in Trust Documents as defined below in Section 7.2 or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading if such statement or omission was made in reliance upon and accurately derived from written information furnished to the Trust by or on behalf of you; or

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1.4 arise out of or result from any failure by you to provide the services or furnish the materials required under the terms of this Agreement;

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1.5 arise out of or result from any material breach of any representation and/or warranty made by you in this Agreement or arise out of or result from any other material breach of this Agreement by you;

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1.6 arise out of or result from a Contract failing to be considered a life insurance policy or an annuity Contract, whichever is appropriate, under applicable provisions of the Code thereby depriving the Trust of its compliance with Section 817(h) of the Code provided that the Company makes no representation or undertaking to the extent such treatment depends on compliance by the Trust or any Portfolio with applicable provisions of the Code; or

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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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1.7 arise out of or result from any failure by you to satisfy requirements, including but not limited to compliance with all applicable laws, relating to your electronic delivery of Designated Portfolio Documents or your making such documents available on-line.

&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;7.1.2 You shall not be liable under this indemnification provision with respect to any Losses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of such Indemnified Party's duties or by reason of such Indemnified Party's reckless disregard of obligations and duties under this Agreement or to the Trust or Underwriter, whichever is applicable. You shall also not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified you in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify you of any such claim shall not relieve you from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, you shall be entitled to participate, at your own expense, in the defense of such action. Unless the Indemnified Party releases you from any further obligations under this Section 7.1, you also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from you to such party of your election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and you will not be liable to such party under this Agreement for any legal or other expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.

&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;7.1.3 The Indemnified Parties will promptly notify you of the commencement of any litigation or proceedings against them in connection with the issuance or sale of the Trust shares or the Contracts or the operation of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2** **Indemnification By The Underwriter** 

&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;7.2.1 The Underwriter agrees to indemnify and hold harmless you, and each of your directors and officers and each person, if any, who controls you within the meaning of Section 15 of the 1933 Act (collectively, the "Indemnified Parties" and individually an "Indemnified Party" for purposes of this Section 7.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Underwriter, which consent shall not be unreasonably withheld) or expenses (including the reasonable costs of investigating or defending any alleged loss, claim, damage, liability or expense and reasonable legal counsel fees incurred in connection therewith) (collectively, "Losses") to which the Indemnified Parties may become subject under any statute, at common law or otherwise, insofar as such Losses are related to the sale or acquisition by the Accounts of the shares of the Trust or the Contracts and:

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2.1.1 arise out of or are based upon any untrue statements or alleged untrue statements of any material fact contained in the Registration Statement, prospectus or sales literature of the Trust (or any amendment or supplement to any of the foregoing)

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(collectively, the "Trust Documents") or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission of such alleged statement or omission was made in reliance upon and in conformity with information furnished to us by or on behalf of you for use in the Registration Statement or prospectus for the Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Contracts or Trust shares; or

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2.1.2 arise out of or as a result of statements or representations (other than statements or representations contained in the Disclosure Documents or sales literature for the Contracts not supplied by the Underwriter or persons under its control) or wrongful conduct of the Trust, Adviser or Underwriter or persons under their control, with respect to the sale or distribution of the Contracts or Trust shares to the Accounts; or

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2.1.3 arise out of any untrue statement or alleged untrue statement of a material fact contained in a Disclosure Document or sales literature covering the Contracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to you by or on behalf of the Trust; or

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2.1.4 arise as a result of any failure by us to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the qualification representation specified above in Section 2.2.7, the diversification requirements specified above in Section 2.2.8 and the investor control representations specified above in Section 2.2.12); or

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2.1.5 arise out of or result from any material breach of any representation and/or warranty made by the Underwriter in this Agreement or arise out of or result from any other material breach of this Agreement by the Underwriter; as limited by and in accordance with the provisions of Sections 7.2.2 and 7.2.3 hereof.

&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;7.2.2 The Underwriter shall not be liable under this indemnification provision with respect to any Losses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of such Indemnified Party's duties or by reason of such Indemnified Party's reckless disregard of obligations and duties under this Agreement or to you or the Accounts, whichever is applicable.

&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;7.2.3 The Underwriter shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Underwriter in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Underwriter of any such claim shall not relieve the Underwriter from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification

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provision. In case any such action is brought against the Indemnified Parties, the Underwriter will be entitled to participate, at its own expense, in the defense thereof. Unless the Indemnified Party releases the Underwriter from any further obligations under this Section 7.2, the Underwriter also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Underwriter to such party of the Underwriter's election to assume the defense thereof, the Indemnified Party shall bear the expenses of any additional counsel retained by it, and the Underwriter will not be liable to such party under this Agreement for any legal or other expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.

&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;7.2.4 You agree promptly to notify the Underwriter of the commencement of any litigation or proceedings against you or the Indemnified Parties in connection with the issuance or sale of the Contracts or the operation of each Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3** **Indemnification By The Trust** 

&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;7.3.1 The Trust agrees to indemnify and hold harmless you, and each of your directors and officers and each person, if any, who controls you within the meaning of Section 15 of the 1933 Act (collectively, the "Indemnified Parties" for purposes of this Section 7.3) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Trust, which consent shall not be unreasonably withheld) or litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements result from the gross negligence, bad faith or willful misconduct of the Board or any member thereof, are related to the operations of the Trust, and arise out of or result from any material breach of any representation and/or warranty made by the Trust in this Agreement or arise out of or result from any other material breach of this Agreement by the Trust; as limited by and in accordance with the provisions of Sections 7.3.2 and 7.3.3 hereof. It is understood and expressly stipulated that neither the holders of shares of the Trust nor any Trustee, officer, agent or employee of the Trust shall be personally liable hereunder, nor shall any resort be had to other private property for the satisfaction of any claim or obligation hereunder, but the Trust only shall be liable.

&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;7.3.2 The Trust shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation incurred or assessed against any Indemnified Party as such may arise from such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of such Indemnified Party's duties or by reason of such Indemnified Party's reckless disregard of obligations and duties under this Agreement or to you, the Trust, the Underwriter or each Account, whichever is applicable.

&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;7.3.3 The Trust shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Trust in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claims shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Trust of any such claim shall not relieve the Trust from any liability which it may have to the Indemnified Party against whom such action

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is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Trust will be entitled to participate, at its own expense, in the defense thereof. Unless the Indemnified Party releases the Trust from any further obligations under this Section 7.3, the Trust also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Trust to such party of the Trust's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Trust will not be liable to such party under this Agreement for any legal or other expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.

&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;7.3.4 You agree promptly to notify the Trust of the commencement of any litigation or proceedings against you or the Indemnified Parties in connection with this Agreement, the issuance or sale of the Contracts, with respect to the operation of the Account, or the sale or acquisition of shares of the Trust.

**8.**  **<u>Notices</u>** 

Any notice, except for those provided in Sections 3.2.1 and 3.2.2 of the Agreement, shall be sufficiently given when sent by registered or certified mail, or by nationally recognized overnight courier services, to the other party at the address of such party set forth in Schedule G below or at such other address as such party may from time to time specify in writing to the other party.

**9.**  **<u>Termination</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 This Agreement may be terminated by mutual agreement at any time. If this Agreement is so terminated, we shall, at your option, continue to make available additional shares of any Portfolio and redeem shares of any Portfolio for any or all Contracts or Accounts existing on the effective date of termination of this Agreement, pursuant to the terms and conditions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 This Agreement may be terminated by any party in its entirety or with respect to one, some or all Portfolios for any reason by ninety (90) days' advance written notice delivered to the other parties, unless a shorter time is agreed to by all parties. If this Agreement is so terminated, we shall, at the option of the Company, continue to make available additional shares of any Portfolio and redeem shares of any Portfolio for any or all Contracts or Accounts existing on the effective date of termination of this Agreement, pursuant to the terms and conditions of this Agreement; If termination by you occurs in connection with the substitution of securities, as provided for in Section 26(c) of the 1940 Act, advance written notice to us shall be no later than the date of the filing of the application for approval of the proposed substitution of securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 This Agreement may be terminated immediately by us upon written notice to you if you materially breach any of the representations and warranties made in this Agreement or you are materially in default in the performance of any of your duties or obligations under the Agreement, receive a written notice thereof and fail to remedy such default or breach to our

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reasonable satisfaction within 30 days after such notice. If this Agreement so terminates, the parties shall cooperate to effect an orderly windup of the business which may include, at our option, a redemption of the Portfolio shares held by the Accounts, *provided* that such redemption shall not occur prior to a period of up to six (6) months following written notice of termination, during which time we will cooperate reasonably with you in effecting a transfer of Portfolio assets to another underlying fund pursuant to any legal and appropriate means.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 This Agreement may be terminated immediately by you upon written notice to us if we materially breach any of the representations and warranties made in this Agreement or are materially in default in the performance of any of our duties or obligations under the Agreement, receive a written notice thereof and fail to remedy such default or breach to your reasonable satisfaction within 30 days after such notice. If this Agreement so terminates, the parties shall cooperate to effect an orderly windup of the business which may include, at your option, a redemption of the Portfolio shares held by the Accounts, *provided* that such redemption shall not occur prior to a period of up to six (6) months following written notice of termination, during which time you will cooperate reasonably with us in effecting a transfer of Portfolio assets to another underlying fund pursuant to any legal and appropriate means.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 This Agreement may be terminated by us upon ten business days' written notice to you if, with respect to the representations and warranties made in sections 2.1.3, 2.1.5, 2.1.7 and 2.4.2 of this Agreement: (i) you inform us that any of such representations and warranties may no longer be true or might not be true in the future; or (ii) any of such representations and warranties were not true on the effective date of this Agreement, are at any time no longer true, or have not been true during any time since the effective date of this Agreement; provided that we may terminate this Agreement upon lesser written notice (including immediately) if we reasonably determine that failure to do so could result in substantial liability to the Trust or any Portfolio. If this Agreement is so terminated, the Trust may redeem the Portfolio shares held by the Accounts on the effective date of termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6 This Agreement may be terminated by the Board of Trustees of the Trust, in the exercise of its fiduciary duties, either upon its determination that such termination is a necessary and appropriate remedy for either: (1) a finding of a material breach of this Agreement which includes a violation of laws, as determined by the Board in its sole judgement exercised in good faith or (2) upon its determination to completely liquidate all Portfolios. Pursuant to such termination, the Trust may redeem the Portfolio shares held by the Accounts on the effective date of termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7 This Agreement shall terminate immediately in the event of its assignment by any party without the prior written approval of the other parties, or as otherwise required by law. If this Agreement is so terminated due to an assignment by you without the prior approval by the Trust, the Trust may redeem the Portfolio shares held by the Accounts on the effective date of termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8 This Agreement shall be terminated as required by the Shared Funding Order, and its provisions shall govern.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9 This Agreement may be terminated at the option of any party, if that party shall determine, in its sole judgment exercised in good faith, that any other party to this Agreement has suffered a material adverse change in its business, operations, financial condition or prospects since the date of this Agreement or is the subject of material adverse publicity and that such material adverse change or material adverse publicity will have a material adverse impact upon the business and operations of the terminating party; but no such termination shall be effective until the party that has suffered the adverse change or adverse publicity or any other changes in circumstances has been provided with 30 days advance notice by the terminating party of its intent to terminate the Agreement, has been afforded a reasonable opportunity to respond to a statement by the terminating party concerning the reason for notice of termination and the terminating party has determined after considering the actions of the party suffering the adverse change or adverse publicity that its determination to terminate shall continue to apply at which time the termination effective date shall be the 30<sup>th</sup> day after which notice was provided by the terminating party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.10 At the option of the Trust or the Underwriter in the event that formal administrative proceedings are instituted against the Company by FINRA, the SEC, the Insurance Commissioner of any state or any other regulatory body regarding the Company's duties under this Agreement or related to the sales of the Contracts, with respect to the operation of any Account, or the purchase of the Trust shares, provided, however, that the Trust or the Underwriter determines in its sole judgment, exercised in good faith, that any such administrative proceedings will have a material adverse effect upon the ability of the Company to perform its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.11. At the option of the Company in the event that formal administrative proceedings are instituted against the Trust or Underwriter by FINRA, the SEC, or any state securities or insurance department or any other regulatory body in respect of the sale of shares of the Trust to the Company, provided, however, that the Company determines in its sole judgment, exercised in good faith, that any such administrative proceedings will have a material adverse effect upon the ability of the Trust or Underwriter to perform its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.12 The provisions of Section 2 (Representations and Warranties), Section 7 (Indemnification) and Schedule F (12b-1 fees) shall survive the termination of this Agreement. All other applicable provisions of this Agreement shall survive the termination of this Agreement, as long as shares of the Trust are held on behalf of Contract owners, except that we shall have no further obligation to sell Trust shares with respect to Contracts issued after termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.13 You shall not redeem Trust shares attributable to the Contracts (as opposed to Trust shares attributable to your assets held in the Account) except: (i) as necessary to implement Contract owner initiated or approved transactions; (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (hereinafter referred to as a "Legally Required Redemption"); or (iii) as permitted pursuant to Section 26(c) of the 1940 Act.

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**10.**  **<u>Miscellaneous</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 The captions in this Agreement are included for convenience of reference only and in no way define or delineate any of the provisions of this Agreement or otherwise affect their construction or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 This Agreement may be executed simultaneously in two or more counterparts, all of which taken together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 If any provision of this Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of the Agreement shall not be affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4 This Agreement shall be construed and its provisions interpreted under and in accordance with the laws of the State of California. It shall also be subject to the provisions of the federal securities laws and the rules and regulations thereunder, to any orders of the SEC on behalf of the Trust granting it exemptive relief, and to the conditions of such orders. We shall promptly forward copies of any such orders to you.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5 The parties to this Agreement acknowledge and agree that all liabilities of the Trust arising, directly or indirectly, under this Agreement, of any and every nature whatsoever, shall be satisfied solely out of the assets of the Trust and that no Trustee, officer, agent or holder of shares of beneficial interest of the Trust shall be personally liable for any such liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.6 The parties to this Agreement agree that the assets and liabilities of each Portfolio of the Trust are separate and distinct from the assets and liabilities of each other Portfolio. No Portfolio shall be liable or shall be charged for any debt, obligation or liability of any other Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.7 Each party to this Agreement shall cooperate with each other party, the other party's independent auditors, and all appropriate governmental authorities (including without limitation the SEC, FINRA, and state insurance regulators) and shall permit such independent auditors and authorities reasonable access to its books and records in connection with any investigation or inquiry relating to this Agreement or the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.8 Each party shall treat as confidential all information of the other party which the parties agree in writing is confidential ("Confidential Information"). Except as permitted by this Agreement or as required by appropriate governmental authority (including, without limitation, the SEC, FINRA, or state securities and insurance regulators) the receiving party shall not disclose or use Confidential Information of the other party before it enters the public domain, without the express written consent of the party providing the Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.9 The rights, remedies and obligations contained in this Agreement are cumulative and are in addition to any and all rights, remedies and obligations, at law or in equity, which the parties to this Agreement are entitled to under state and federal laws.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.10 The parties to this Agreement acknowledge and agree that this Agreement shall not be exclusive in any respect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.12 No provisions of this Agreement may be amended or modified in any manner except by a written agreement properly authorized and executed by both parties. Notwithstanding the foregoing: (i) the Site Terms may be separately amended as provided therein and, as so amended and in effect from time to time, shall be a part of this Agreement; and (ii) Schedule C may be separately amended as provided therein and, as so amended shall be a part of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.13 Each party to the Agreement agrees to limit the disclosure of nonpublic personal information of Contract owners and customers consistent with its policies on privacy with respect to such information and Regulation S-P of the SEC. Each party hereby agrees that it will comply with all applicable requirements under the regulations implementing Title V of the Gramm-Leach-Bliley Act and any other applicable federal and state consumer privacy acts, rules and regulations. Each party further represents that it has in place, and agrees that it will maintain, information security policies and procedures for protecting nonpublic personal customer information adequate to conform to applicable legal requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.14 If there is a material change to the prospectus of a Portfolio that will impact the provisions of this Agreement, we will notify you promptly in writing.

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**IN WITNESS WHEREOF**, each of the parties has caused their duly authorized officers to execute this Agreement.

The Trust: <u>Franklin Templeton Variable Insurance Products Trust</u>

**Only on behalf of each** 

**Portfolio listed on** 

**Schedule C hereof.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By: <u>/s/ Navid Tofigh</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name: Navid Tofigh

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title: Secretary & Vice President

The Underwriter: <u>Franklin Distributors, LLC</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By: <u>/s/ Robert Smith</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name: Robert Smith

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title: Head of Business Administration

The Company: <u>New York Life Insurance and Annuity Corporation</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By: <u>/s/ Janis Rubin</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name: Janis Rubin

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title: Vice President

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**Schedule A** 

**The Company** 

THE COMPANY

New York Life Insurance and Annuity Corporation

51 Madison Avenue

New York, NY 10010

An insurance company organized under the laws of the State of Delaware.

A

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**Schedule B** 

**Accounts of the Company** 

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| | |
|:---|:---|
| **Name of Account** | **<u>SEC Registration</u>**<br> **Yes/No** |
| NYLIAC Variable Annuity Separate Account - I | **Yes** |
| NYLIAC Variable Annuity Separate Account – II | **Yes** |
| NYLIAC Variable Annuity Separate Account – III | **Yes** |
| NYLIAC Variable Annuity Separate Account – IV | **Yes** |
| NYLIAC Variable Universal Life Separate Account – I | **Yes** |
| NYLIAC Corporate Sponsored Variable Universal Life Separate Account – I | **Yes** |
| NYLIAC Private Placement Variable Universal Life Separate Account – I | **No** |
| NYLIAC Private Placement Variable Universal Life Separate Account -- II | **No** |

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B

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**Schedule C** 

**Available Portfolios and Classes of Shares of the Trust** 

Franklin Gold and Precious Metals VIP Fund: Class 1 and Class 2

In addition to portfolios and classes of shares listed above, any additional Portfolios and classes of shares other than Class 3 shares are included in this Schedule C listing provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the General Counsel of Franklin Templeton Investments receives from a person authorized by you a written
notice in the form attached (which may be electronic mail or sent by electronic mail) ("Notice") identifying this Agreement as provided in the Notice and specifying: (i) the names and classes of shares of additional Portfolios that
you propose to offer as investment options of the Separate Accounts under the Contracts; and (ii) the date that you propose to begin offering Separate Account interests investing in the additional Portfolios under the Contracts; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) we do not within ten (10) Business Days following receipt of the Notice send you a writing (which may
be electronic mail) objecting to your offering such Separate Accounts investing in the additional Portfolios and classes of shares under the Contracts.

Provided that we do not object as provided above, your Notice shall amend, supplement and become a part of this Schedule C and the Agreement.

C

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**FORM OF NOTICE PURSUANT TO SCHEDULE C OF PARTICIPATION AGREEMENT** 

To: General Counsel c/o

US Intermediary Client Onboarding (us_ico@franklintempleton.com) or

Kevin Kirchoff (kevin.kirchoff@franklintempleton.com)

Fax: 650 525-7059

Franklin Templeton Investments

1 Franklin Parkway,

Bldg. 920, 2<sup>nd</sup> Floor

San Mateo, CA 94402

With respect to the following agreement(s) (altogether, the "Agreement")

(please reproduce and complete table for multiple agreements):

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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; <br> **Date of Participation Agreement:** |
| &nbsp;&nbsp; **Insurance Company(ies):** |

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As provided by Schedule C of the Agreement, this Notice proposes to Franklin Templeton Variable Insurance Products Trust, and Franklin Distributors, LLC the addition as of the offering date(s) listed below of the following Portfolios as additional investment options listed on Schedule C:

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> **Names and Classes of Shares of Additional Portfolios**<br> Listing of current classes for your reference:<br> Class 1 (no 12b-1 fee);<br> Class 2 (12b-1 fee of 25 bps);<br> ] | <br> **Offering Date(s)** |

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**Name and title of authorized person of insurance company:** 

**Contact Information:** 

C

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**Schedule D** 

**Contracts of the Company** 

All variable life and variable annuity contracts issued by separate accounts listed on Schedule B of this Agreement.

D

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**Schedule E** 

**This schedule is not used** 

E

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**Schedule F** 

**Rule 12b-1 Plans of the Trust** 

**<u>Compensation</u>**

Each Class 2, Class 4 or Class 5 Portfolio named or referenced on Schedule C of this Agreement may make payments on an annualized basis of the average daily net assets of the shares of the Portfolios held in the Accounts at a rate of [ ]%, as may be amended from time to time with reasonable notice to you, pursuant to the terms and conditions of its Rule 12b-1 distribution plan. For the avoidance of doubt, you agree to waive payment of any amounts payable to you by us under a Portfolio's Rule 12b-1 distribution plan until such time as we are in receipt of such fee from the Portfolio.

At the end of each quarter, we will determine the net assets for the preceding quarter, of shares of the Portfolio as to which the 12b-1 fee is to be calculated. We will provide a statement to you setting forth the calculation within thirty (30) Business Days of the following month after the end of the quarter.

**<u>Agreement Provisions</u>**

If the Company, on behalf of any Account, purchases Trust Portfolio shares ("Eligible Shares") that are subject to a Rule 12b-1 plan adopted under the 1940 Act (the "Plan"), the Company may participate in the Plan.

To the extent the Company or its affiliates, agents or designees (collectively "you") provide any activity or service that is primarily intended to assist in the promotion, distribution or account servicing of Eligible Shares ("Rule 12b-1 Services") or variable contracts offering Eligible Shares, the Underwriter, the Trust or their affiliates (collectively, "we") may pay you a Rule 12b-1 fee. "Rule 12b-1 Services" may include, but are not limited to, printing of prospectuses and reports used for sales purposes, preparing and distributing sales literature and related expenses, advertisements, education of dealers and their representatives, and similar distribution-related expenses, furnishing personal services to owners of Contracts which may invest in Eligible Shares ("Contract Owners"), education of Contract Owners, answering routine inquiries regarding a Portfolio, coordinating responses to Contract Owner inquiries regarding the Portfolios, maintaining such accounts or providing such other enhanced services as a Trust Portfolio or Contract may require, or providing other services eligible for service fees as defined under FINRA rules.

Your acceptance of such compensation is your acknowledgment that eligible services have been rendered. All Rule 12b-1 fees shall be based on the value of Eligible Shares owned by the Company on behalf of its Accounts, and shall be calculated on the basis and at the rates set forth in the compensation provision stated above. The aggregate annual fees paid pursuant to each Plan shall not exceed the amounts stated as the "annual maximums" in the Portfolio's prospectus, unless an increase is approved by shareholders as provided in the Plan. These maximums shall be a specified percent of the value of a Portfolio's net assets attributable to Eligible Shares owned by the Company on behalf of its Accounts (determined in the same

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manner as the Portfolio uses to compute its net assets as set forth in its effective Prospectus). The Rule 12b-1 fee will be paid to you within thirty (30) days after the end of the three-month periods ending in January, April, July and October.

You shall furnish us with such information as shall reasonably be requested by the Trust's Boards of Trustees ("Trustees") with respect to the Rule 12b-1 fees paid to you pursuant to the Plans. We shall furnish to the Trustees, for their review on a quarterly basis, a written report of the amounts expended under the Plans and the purposes for which such expenditures were made.

The Plans and provisions of any agreement relating to such Plans must be approved annually by a vote of the Trustees, including the Trustees who are not interested persons of the Trust and who have no financial interest in the Plans or any related agreement ("Disinterested Trustees"). Each Plan may be terminated at any time by the vote of a majority of the Disinterested Trustees, or by a vote of a majority of the outstanding shares as provided in the Plan, on sixty (60) days' written notice, without payment of any penalty, or as provided in the Plan. Continuation of the Plans is also conditioned on Disinterested Trustees being ultimately responsible for selecting and nominating any new Disinterested Trustees. Under Rule 12b-1, the Trustees have a duty to request and evaluate, and persons who are party to any agreement related to a Plan have a duty to furnish, such information as may reasonably be necessary to an informed determination of whether the Plan or any agreement should be implemented or continued. Under Rule 12b-1, the Trust is permitted to implement or continue Plans or the provisions of any agreement relating to such Plans from year-to-year only if, based on certain legal considerations, the Trustees are able to conclude that the Plans will benefit each affected Trust Portfolio and class. Absent such yearly determination, the Plans must be terminated as set forth above. In the event of the termination of the Plans for any reason, the provisions of this Schedule F relating to the Plans will also terminate. You agree that your selling agreements with persons or entities through whom you intend to distribute Contracts will provide that compensation paid to such persons or entities may be reduced if a Portfolio's Plan is no longer effective or is no longer applicable to such Portfolio or class of shares available under the Contracts.

Any obligation assumed by the Trust pursuant to this Agreement shall be limited in all cases to the assets of the Trust and no person shall seek satisfaction thereof from shareholders of the Trust. You agree to waive payment of any amounts payable to you by Underwriter under a Plan until such time as the Underwriter has received such fee from the Trust.

The provisions of the Plans shall control over the provisions of the Participation Agreement, including this Schedule F, in the event of any inconsistency. You agree to provide complete disclosure as required by all applicable statutes, rules and regulations of all rule 12b-1 fees received from us in the prospectus of the Contracts.

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**Schedule G** 

**Addresses for Notices** 

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| |
|:---|
| To the Company: |
| To the Distributor: Franklin Distributors, LLC<br> One Franklin Parkway, Bld 920 2<sup>nd</sup> Floor<br> San Mateo, CA 94403<br> Attention: US Intermediary Client Onboarding<br> (us_ico@franklintempleton.com) |
| To the Trust: Franklin Templeton Variable Insurance Products Trust<br> One Franklin Parkway, Bldg. 920 2<sup>nd</sup> Floor<br> San Mateo, California 94403<br> Attention: Legal Counsel |
| To the Underwriter: Franklin Distributors, LLC<br> 100 Fountain Parkway, Bldg. 140 7<sup>th</sup> Floor<br> St. Petersburg, FL 33716<br> Attention: Legal Counsel |
| If to the Trust or Underwriter with a copy to: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> Franklin Templeton Investments<br> One Franklin Parkway, Bldg. 920 2<sup>nd</sup> Floor<br> San Mateo, California 94403<br> Attention: General Counsel |

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G

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**Schedule H** 

**Shared Funding Order** 

Templeton Variable Products Series Fund, et al.

File No. 812-11698

SECURITIES AND EXCHANGE COMMISSION

Release No. IC-24018

1999 SEC LEXIS 1887

September 17, 1999

ACTION: Notice of application for an amended order of exemption pursuant to Section 6(c) of the Investment Company Act of 1940 (the "1940 Act") from the provisions of Sections 9(a), 13(a), 15(a) and 15(b) of the 1940 Act and Rules 6e-2(b)(15) and 6e-3(T)(b)(15) thereunder.

TEXT: Summary of Application: Templeton Variable Products Series Fund (the "Templeton Trust"), Franklin Templeton Variable Insurance Products Trust (formerly Franklin Valuemark Funds) (the "VIP Trust," and together with the Templeton Trust, the "Funds"), Templeton Funds Annuity Company ("TFAC") or any successor to TFAC, and any future open-end investment company for which TFAC or any affiliate is the administrator, sub-administrator, investment manager, adviser, principal underwriter, or sponsor ("Future Funds") seek an amended order of the Commission to (1) add as parties to that order the VIP Trust and any Future Funds and (2) permit shares of the Funds and Future Funds to be issued to and held by qualified pension and retirement plans outside the separate account context.

Applicants: Templeton Variable Products Series Fund, Franklin Templeton Variable Insurance Products Trust, Templeton Funds Annuity Company or any successor to TFAC, and any future open-end investment company for which TFAC or any affiliate is the administrator, sub-administrator, investment manager, adviser, principal underwriter, or sponsor (collectively, the "Applicants").

Filing Date: The application was filed on July 14, 1999, and amended and restated on September 17, 1999.

Hearing or Notification of Hearing: An order granting the application will be issued unless the Commission orders a hearing. Interested persons may request a hearing by writing to the Secretary of the Commission and serving Applicants with a copy of the request, personally or by mail. Hearing requests should be received by the Commission by 5:30 p.m., on October 12, 1999, and should be accompanied by proof of service on the Applicants in the form of an affidavit or, for lawyers, a certificate of service. Hearing requests should state the nature of the writer's interest, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by writing to the Secretary of the Commission.

Addresses: Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, D.C. 20549-0609.

Applicants: Templeton Variable Products Series Fund and Franklin Templeton Variable Insurance Products Trust, 777 Mariners Island Boulevard, San Mateo, California 94404, Attn: Karen L. Skidmore, Esq.

For Further Information Contact: Kevin P. McEnery, Senior Counsel, or Susan M. Olson, Branch Chief, Office of Insurance Products, Division of Investment Management, at (202) 942-0670.

Supplementary Information: The following is a summary of the application. The complete application is available for a fee from the SEC's Public Reference Branch, 450 Fifth Street, N.W., Washington, D.C. 20549-0102 (tel. (202) 942-8090).

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Applicants' Representations:

&nbsp;&nbsp;&nbsp;&nbsp;1. Each of the Funds is registered under the 1940 Act as an open-end management investment company and was organized as a Massachusetts business trust. The Templeton Trust currently consists of eight separate series, and the VIP Trust consists of twenty-five separate series. Each Fund's Declaration of Trust permits the Trustees to create additional series of shares at any time. The Funds currently serve as the underlying investment medium for variable annuity contracts and variable life insurance policies issued by various insurance companies. The Funds have entered into investment management agreements with certain investment managers ("Investment Managers") directly or indirectly owned by Franklin Resources, Inc. ("Resources"), a publicly owned company engaged in the financial services industry through its subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;2. TFAC is an indirect, wholly owned subsidiary of Resources. TFAC is the sole insurance company in the Franklin Templeton organization, and specializes in the writing of variable annuity contracts. The Templeton Trust has entered into a Fund Administration Agreement with Franklin Templeton Services, Inc. ("FT Services"), which replaced TFAC in 1998 as administrator, and FT Services subcontracts certain services to TFAC. FT Services also serves as administrator to all series of the VIP Trust. TFAC and FT Services provide certain administrative facilities and services for the VIP and Templeton Trusts.

&nbsp;&nbsp;&nbsp;&nbsp;3. On November 16, 1993, the Commission issued an order granting exemptive relief to permit shares of the Templeton Trust to be sold to and held by variable annuity and variable life insurance separate accounts of both affiliated and unaffiliated life insurance companies (Investment Company Act Release No. 19879, File No. 812-8546) (the "Original Order"). Applicants incorporate by reference into the application the Application for the Original Order and each amendment thereto, the Notice of Application for the Original Order, and the Original Order, to the extent necessary, to supplement the representations made in the application in support of the requested relief. Applicants represent that all of the facts asserted in the Application for the Original Order and any amendments thereto remain true and accurate in all material respects to the extent that such facts are relevant to any relief on which Applicants continue to rely. The Original Order allows the Templeton Trust to offer its shares to insurance companies as the investment vehicle for their separate accounts supporting variable annuity contracts and variable life insurance contracts (collectively, the "Variable Contracts"). Applicants state that the Original Order does not (i) include the VIP Trust or Future Funds as parties, nor (ii) expressly address the sale of shares of the Funds or any Future Funds to qualified pension and retirement plans outside the separate account context including, without limitation, those trusts, plans, accounts, contracts or annuities described in Sections 401(a), 403(a), 403(b), 408(b), 408(k), 414(d), 457(b), 501(c)(18) of the Internal Revenue Code of 1986, as amended (the "Code"), and any other trust, plan, contract, account or annuity that is determined to be within the scope of Treasury Regulation 1.817.5(f)(3)(iii) ("Qualified Plans").

&nbsp;&nbsp;&nbsp;&nbsp;4. Separate accounts owning shares of the Funds and their insurance company depositors are referred to in the application as "Participating Separate Accounts" and "Participating Insurance Companies," respectively. The use of a common management investment company as the underlying investment medium for both variable annuity and variable life insurance separate accounts of a single insurance company (or of two or more affiliated insurance companies) is referred to as "mixed funding." The use of a common management investment company as the underlying investment medium for variable annuity and/or variable life insurance separate accounts of unaffiliated insurance companies is referred to as "shared funding."

Applicants' Legal Analysis:

&nbsp;&nbsp;&nbsp;&nbsp;1. Applicants request that the Commission issue an amended order pursuant to Section 6(c) of the 1940 Act, adding the VIP Trust and Future Funds to the Original Order and exempting scheduled premium variable life insurance separate accounts and flexible premium variable life insurance separate accounts of Participating Insurance Companies (and, to the extent necessary, any principal underwriter and depositor of such an account) and the Applicants from Sections 9(a), 13(a), 15(a) and 15(b) of the 1940 Act, and Rules 6e-2(b)(15) and 6e-3(T)(b)(15) (and any comparable rule) thereunder, respectively, to the extent necessary to permit shares of the Funds and any Future Funds to be sold to and held by Qualified Plans. Applicants submit that the exemptions requested are appropriate in the public interest, consistent with the protection of investors, and consistent with the purposes fairly intended by the policy and provisions of the 1940 Act.

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&nbsp;&nbsp;&nbsp;&nbsp;2. The Original Order does not include the VIP Trust or Future Funds as parties nor expressly address the sale of shares of the Funds or any Future Funds to Qualified Plans. Applicants propose that the VIP Trust and Future Funds be added as parties to the Original Order and the Funds and any Future Funds be permitted to offer and sell their shares to Qualified Plans.

&nbsp;&nbsp;&nbsp;&nbsp;3. Section 6(c) of the 1940 Act provides, in part, that the Commission, by order upon application, may conditionally or unconditionally exempt any person, security or transaction, or any class or classes of persons, securities or transactions from any provisions of the 1940 Act or the rules or regulations thereunder, if and to the extent that such exemption is necessary or appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;4. In connection with the funding of scheduled premium variable life insurance contracts issued through a separate account registered under the 1940 Act as a unit investment trust ("UIT"), Rule 6e-2(b)(15) provides partial exemptions from various provisions of the 1940 Act, including the following: (1) Section 9(a), which makes it unlawful for certain individuals to act in the capacity of employee, officer, or director for a UIT, by limiting the application of the eligibility restrictions in Section 9(a) to affiliated persons directly participating in the management of a registered management investment company; and (2) Sections 13(a), 15(a) and 15(b) of the 1940 Act to the extent that those sections might be deemed to require "pass-through" voting with respect to an underlying fund's shares, by allowing an insurance company to disregard the voting instructions of contractowners in certain circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;5. These exemptions are available, however, only where the management investment company underlying the separate account (the "underlying fund") offers its shares "exclusively to variable life insurance separate accounts of the life insurer, or of any affiliated life insurance company." Therefore, Rule 6e-2 does not permit either mixed funding or shared funding because the relief granted by Rule 6e-2(b)(15) is not available with respect to a scheduled premium variable life insurance separate account that owns shares of an underlying fund that also offers its shares to a variable annuity or a flexible premium variable life insurance separate account of the same company or of any affiliated life insurance company. Rule 6e-2(b)(15) also does not permit the sale of shares of the underlying fund to Qualified Plans.

&nbsp;&nbsp;&nbsp;&nbsp;6. In connection with flexible premium variable life insurance contracts issued through a separate account registered under the 1940 Act as a UIT, Rule 6e-3(T)(b)(15) also provides partial exemptions from Sections 9(a), 13(a), 15(a) and 15(b) of the 1940 Act. These exemptions, however, are available only where the separate account's underlying fund offers its shares "exclusively to separate accounts of the life insurer, or of any affiliated life insurance company, offering either scheduled contracts or flexible contracts, or both; or which also offer their shares to variable annuity separate accounts of the life insurer or of an affiliated life insurance company." Therefore, Rule 6e-3(T) permits mixed funding but does not permit shared funding and also does not permit the sale of shares of the underlying fund to Qualified Plans. As noted above, the Original Order granted the Templeton Trust exemptive relief to permit mixed and shared funding, but did not expressly address the sale of its shares to Qualified Plans.

&nbsp;&nbsp;&nbsp;&nbsp;7. Applicants note that if the Funds were to sell their shares only to Qualified Plans, exemptive relief under Rule 6e-2 and Rule 6e-3(T) would not be necessary. Applicants state that the relief provided for under Rule 6e-2(b)(15) and Rule 6e-3(T)(b)(15) does not relate to qualified pension and retirement plans or to a registered investment company's ability to sell its shares to such plans.

&nbsp;&nbsp;&nbsp;&nbsp;8. Applicants state that changes in the federal tax law have created the opportunity for each of the Funds to increase its asset base through the sale of its shares to Qualified Plans. Applicants state that Section 817(h) of the Internal Revenue Code of 1986, as amended (the "Code"), imposes certain diversification standards on the assets underlying Variable Contracts. Treasury Regulations generally require that, to meet the diversification requirements, all of the beneficial interests in the underlying investment company must be held by the segregated asset accounts of one or more life insurance companies. Notwithstanding this, Applicants note that the Treasury Regulations also contain an exception to this requirement that permits trustees of a Qualified Plan to hold shares of an investment company, the shares of which are also held by insurance company segregated asset accounts, without adversely affecting the status of the investment company as an adequately diversified underlying investment of Variable Contracts issued through such segregated asset accounts (Treas. Reg. 1.817-5(f)(3)(iii)).

&nbsp;&nbsp;&nbsp;&nbsp;9. Applicants state that the promulgation of Rules 6e-2(b)(15) and 6e-3(T)(b)(15) under the 1940 Act preceded the issuance of these Treasury Regulations. Thus, Applicants assert that the sale of shares of the same investment company

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to both separate accounts and Qualified Plans was not contemplated at the time of the adoption of Rules 6e-2(b)(15) and 6e-3(T)(b)(15).

&nbsp;&nbsp;&nbsp;&nbsp;10. Section 9(a) provides that it is unlawful for any company to serve as investment adviser or principal underwriter of any registered open-end investment company if an affiliated person of that company is subject to a disqualification enumerated in Section 9(a)(1) or (2). Rules 6e-2(b)(15) and 6e-3(T)(b)(15) provide exemptions from Section 9(a) under certain circumstances, subject to the limitations on mixed and shared funding. These exemptions limit the application of the eligibility restrictions to affiliated individuals or companies that directly participate in the management of the underlying portfolio investment company.

&nbsp;&nbsp;&nbsp;&nbsp;11. Applicants state that the relief granted in Rule 6e-2(b)(15) and 6e-3(T)(b)(15) from the requirements of Section 9 limits, in effect, the amount of monitoring of an insurer's personnel that would otherwise be necessary to ensure compliance with Section 9 to that which is appropriate in light of the policy and purposes of Section 9. Applicants submit that those Rules recognize that it is not necessary for the protection of investors or the purposes fairly intended by the policy and provisions of the 1940 Act to apply the provisions of Section 9(a) to the many individuals involved in an insurance company complex, most of whom typically will have no involvement in matters pertaining to investment companies funding the separate accounts.

&nbsp;&nbsp;&nbsp;&nbsp;12. Applicants to the Original Order previously requested and received relief from Section 9(a) and Rules 6e-2(b)(15) and 6e-3(T)(b)(15) to the extent necessary to permit mixed and shared funding. Applicants maintain that the relief previously granted from Section 9(a) will in no way be affected by the proposed sale of shares of the Funds to Qualified Plans. Those individuals who participate in the management or administration of the Funds will remain the same regardless of which Qualified Plans use such Funds. Applicants maintain that more broadly applying the requirements of Section 9(a) because of investment by Qualified Plans would not serve any regulatory purpose. Moreover, Qualified Plans, unlike separate accounts, are not themselves investment companies and therefore are not subject to Section 9 of the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;13. Applicants state that Rules 6e-2(b)(15)(iii) and 6e-3(T)(b)(15)(iii) provide exemptions from the pass-through voting requirement with respect to several significant matters, assuming the limitations on mixed and shared funding are observed. Rules 6e-2(b)(15)(iii)(A) and 6e-3(T)(b)(15)(iii)(A) provide that the insurance company may disregard the voting instructions of its contractowners with respect to the investments of an underlying fund or any contract between a fund and its investment adviser, when required to do so by an insurance regulatory authority (subject to the provisions of paragraphs (b)(5)(i) and (b)(7)(ii)(A) of the Rules). Rules 6e-2(b)(15)(iii)(B) and 6e-3(T)(b)(15)(iii)(A)(2) provide that the insurance company may disregard contractowners' voting instructions if the contractowners initiate any change in such company's investment policies, principal underwriter, or any investment adviser (provided that disregarding such voting instructions is reasonable and subject to the other provisions of paragraphs (b)(5)(ii) and (b)(7)(ii)(B) and (C) of the Rules).

&nbsp;&nbsp;&nbsp;&nbsp;14. Applicants assert that Qualified Plans, which are not registered as investment companies under the 1940 Act, have no requirement to pass-through the voting rights to plan participants. Applicants state that applicable law expressly reserves voting rights to certain specified persons. Under Section 403(a) of the Employment Retirement Income Security Act ("ERISA"), shares of a fund sold to a Qualified Plan must be held by the trustees of the Qualified Plan. Section 403(a) also provides that the trustee(s) must have exclusive authority and discretion to manage and control the Qualified Plan with two exceptions: (1) when the Qualified Plan expressly provides that the trustee(s) are subject to the direction of a named fiduciary who is not a trustee, in which case the trustees are subject to proper directions made in accordance with the terms of the Qualified Plan and not contrary to ERISA; and (2) when the authority to manage, acquire or dispose of assets of the Qualified Plan is delegated to one or more investment managers pursuant to Section 402(c)(3) of ERISA. Unless one of the two above exceptions stated in Section 403(a) applies, Qualified Plan trustees have the exclusive authority and responsibility for voting proxies. Where a named fiduciary to a Qualified Plan appoints an investment manager, the investment manager has the responsibility to vote the shares held unless the right to vote such shares is reserved to the trustees or the named fiduciary. Where a Qualified Plan does not provide participants with the right to give voting instructions, Applicants do not see any potential for material irreconcilable conflicts of interest between or among variable contract holders and Qualified Plan investors with respect to voting of the respective Fund's shares. Accordingly, Applicants state that, unlike the case with insurance company separate accounts, the issue of the resolution of material irreconcilable conflicts with respect to voting is not present with respect to such Qualified Plans since the Qualified Plans are not entitled to pass-through voting privileges.

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&nbsp;&nbsp;&nbsp;&nbsp;15. Even if a Qualified Plan were to hold a controlling interest in one of the Funds, Applicants believe that such control would not disadvantage other investors in such Fund to any greater extent than is the case when any institutional shareholder holds a majority of the voting securities of any open-end management investment company. In this regard, Applicants submit that investment in a Fund by a Qualified Plan will not create any of the voting complications occasioned by mixed funding or shared funding. Unlike mixed or shared funding, Qualified Plan investor voting rights cannot be frustrated by veto rights of insurers or state regulators.

&nbsp;&nbsp;&nbsp;&nbsp;16. Applicants state that some of the Qualified Plans, however, may provide for the trustee(s), an investment adviser (or advisers), or another named fiduciary to exercise voting rights in accordance with instructions from participants. Where a Qualified Plan provides participants with the right to give voting instructions, Applicants see no reason to believe that participants in Qualified Plans generally or those in a particular Qualified Plan, either as a single group or in combination with participants in other Qualified Plans, would vote in a manner that would disadvantage Variable Contract holders. In sum, Applicants maintain that the purchase of shares of the Funds by Qualified Plans that provide voting rights does not present any complications not otherwise occasioned by mixed or shared funding.

&nbsp;&nbsp;&nbsp;&nbsp;17. Applicants do not believe that the sale of the shares of the Funds to Qualified Plans will increase the potential for material irreconcilable conflicts of interest between or among different types of investors. In particular, Applicants see very little potential for such conflicts beyond that which would otherwise exist between variable annuity and variable life insurance contractowners.

&nbsp;&nbsp;&nbsp;&nbsp;18. As noted above, Section 817(h) of the Code imposes certain diversification standards on the underlying assets of variable contracts held in an underlying mutual fund. The Code provides that a variable contract shall not be treated as an annuity contract or life insurance, as applicable, for any period (and any subsequent period) for which the investments are not, in accordance with regulations prescribed by the Treasury Department, adequately diversified.

&nbsp;&nbsp;&nbsp;&nbsp;19. Treasury Department Regulations issued under Section 817(h) provide that, in order to meet the statutory diversification requirements, all of the beneficial interests in the investment company must be held by the segregated asset accounts of one or more insurance companies. However, the Regulations contain certain exceptions to this requirement, one of which allows shares in an underlying mutual fund to be held by the trustees of a qualified pension or retirement plan without adversely affecting the ability of shares in the underlying fund also to be held by separate accounts of insurance companies in connection with their variable contracts (Treas. Reg. 1.817-5(f)(3)(iii)). Thus, Applicants believe that the Treasury Regulations specifically permit "qualified pension or retirement plans" and separate accounts to invest in the same underlying fund. For this reason, Applicants have concluded that neither the Code nor the Treasury Regulations or revenue rulings thereunder presents any inherent conflict of interest.

&nbsp;&nbsp;&nbsp;&nbsp;20. Applicants note that while there are differences in the manner in which distributions from Variable Contracts and Qualified Plans are taxed, these differences will have no impact on the Funds. When distributions are to be made, and a Separate Account or Qualified Plan is unable to net purchase payments to make the distributions, the Separate Account and Qualified Plan will redeem shares of the Funds at their respective net asset value in conformity with Rule 22c-1 under the 1940 Act (without the imposition of any sales charge) to provide proceeds to meet distribution needs. A Qualified Plan will make distributions in accordance with the terms of the Qualified Plan.

&nbsp;&nbsp;&nbsp;&nbsp;21. Applicants maintain that it is possible to provide an equitable means of giving voting rights to Participating Separate Account contractowners and to Qualified Plans. In connection with any meeting of shareholders, the Funds will inform each shareholder, including each Participating Insurance Company and Qualified Plan, of information necessary for the meeting, including their respective share of ownership in the relevant Fund. Each Participating Insurance Company will then solicit voting instructions in accordance with Rules 6e-2 and 6e-3(T), as applicable, and its participation agreement with the relevant Fund. Shares held by Qualified Plans will be voted in accordance with applicable law. The voting rights provided to Qualified Plans with respect to shares of the Funds would be no different from the voting rights that are provided to Qualified Plans with respect to shares of funds sold to the general public.

&nbsp;&nbsp;&nbsp;&nbsp;22. Applicants have concluded that even if there should arise issues with respect to a state insurance commissioner's veto powers over investment objectives where the interests of contractowners and the interests of Qualified Plans are in conflict, the issues can be almost immediately resolved since the trustees of (or participants in) the Qualified Plans can, on their own, redeem the shares out of the Funds. Applicants note that state insurance commissioners have been

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given the veto power in recognition of the fact that insurance companies usually cannot simply redeem their separate accounts out of one fund and invest in another. Generally, time-consuming, complex transactions must be undertaken to accomplish such redemptions and transfers. Conversely, the trustees of Qualified Plans or the participants in participant-directed Qualified Plans can make the decision quickly and redeem their interest in the Funds and reinvest in another funding vehicle without the same regulatory impediments faced by separate accounts or, as is the case with most Qualified Plans, even hold cash pending suitable investment.

&nbsp;&nbsp;&nbsp;&nbsp;23. Applicants also state that they do not see any greater potential for material irreconcilable conflicts arising between the interests of participants under Qualified Plans and contractowners of Participating Separate Accounts from possible future changes in the federal tax laws than that which already exist between variable annuity contractowners and variable life insurance contractowners.

&nbsp;&nbsp;&nbsp;&nbsp;24. Applicants state that the sale of shares of the Funds to Qualified Plans in addition to separate accounts of Participating Insurance Companies will result in an increased amount of assets available for investment by the Funds. This may benefit variable contractowners by promoting economies of scale, by permitting increased safety of investments through greater diversification, and by making the addition of new portfolios more feasible.

&nbsp;&nbsp;&nbsp;&nbsp;25. Applicants assert that, regardless of the type of shareholders in each Fund, each Fund's Investment Manager is or would be contractually and otherwise obligated to manage the Fund solely and exclusively in accordance with that Fund's investment objectives, policies and restrictions as well as any guidelines established by the Board of Trustees of such Fund (the "Board"). The Investment Manager works with a pool of money and (except in a few instances where this may be required in order to comply with state insurance laws) does not take into account the identity of the shareholders. Thus, each Fund will be managed in the same manner as any other mutual fund. Applicants therefore see no significant legal impediment to permitting the sale of shares of the Funds to Qualified Plans.

&nbsp;&nbsp;&nbsp;&nbsp;26. Applicants state that the Commission has permitted the amendment of a substantially similar original order for the purpose of adding a party to the original order and has permitted open-end management investment companies to offer their shares directly to Qualified Plan in addition to separate accounts of affiliated or unaffiliated insurance companies which issue either or both variable annuity contracts or variable life insurance contracts. Applicants state that the amended order sought in the application is identical to precedent with respect to the conditions Applicants propose should be imposed on Qualified Plans in connection with investment in the Funds.

Applicants' Conditions:

If the requested amended order is granted, Applicants consent to the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;1. A majority of the Board of each Fund shall consist of persons who are not "interested persons" thereof, as defined by Section 2(a)(19) of the 1940 Act, and the rules thereunder and as modified by any applicable orders of the Commission, except that if this condition is not met by reason of the death, disqualification or bona fide resignation of any Board Member or Members, then the operation of this condition shall be suspended: (a) for a period of 45 days if the vacancy or vacancies may be filled by the remaining Board Members; (b) for a period of 60 days if a vote of shareholders is required to fill the vacancy or vacancies; or (c) for such longer period as the Commission may prescribe by order upon application.

&nbsp;&nbsp;&nbsp;&nbsp;2. The Board will monitor their respective Fund for the existence of any material irreconcilable conflict among the interests of the Variable Contract owners of all Separate Accounts investing in the Funds and of the Qualified Plan participants investing in the Funds. The Board will determine what action, if any, shall be taken in response to such conflicts. A material irreconcilable conflict may arise for a variety of reasons, including: (a) an action by any state insurance regulatory authority; (b) a change in applicable federal or state insurance, tax or securities laws or regulations, or a public ruling, private letter ruling, no-action or interpretive letter, or any similar action by insurance, tax or securities regulatory authorities; (c) an administrative or judicial decision in any relevant proceeding; (d) the manner in which the investments of the Funds are being managed; (e) a difference in voting instructions given by variable annuity contract owners, variable life insurance contract owners, and trustees of Qualified Plans; (f) a decision by an insurer to disregard the voting instructions of Variable Contract owners; or (g) if applicable, a decision by a Qualified Plan to disregard the voting instructions of Qualified Plan participants.

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&nbsp;&nbsp;&nbsp;&nbsp;3. Participating Insurance Companies, the Investment Managers, and any Qualified Plan that executes a fund participation agreement upon becoming an owner of 10 percent or more of the assets of an Fund (a "Participating Qualified Plan"), will report any potential or existing conflicts of which it becomes aware to the Board of any relevant Fund. Participating Insurance Companies, the Investment Managers and the Participating Qualified Plans will be responsible for assisting the Board in carrying out its responsibilities under these conditions by providing the Board with all information reasonably necessary for the Board to consider any issues raised. This responsibility includes, but is not limited to, an obligation by each Participating Insurance Company to inform the Board whenever voting instructions of Contract owners are disregarded and, if pass-through voting is applicable, an obligation by each Participating Qualified Plan to inform the Board whenever it has determined to disregard Qualified Plan participant voting instructions. The responsibility to report such information and conflicts, and to assist the Board, will be contractual obligations of all Participating Insurance Companies investing in the Funds under their agreements governing participation in the Funds, and such agreements shall provide that these responsibilities will be carried out with a view only to the interests of the Variable Contract owners. The responsibility to report such information and conflicts, and to assist the Board, will be contractual obligations of all Participating Qualified Plans under their agreements governing participation in the Funds, and such agreements will provide that their responsibilities will be carried out with a view only to the interests of Qualified Plan participants.

&nbsp;&nbsp;&nbsp;&nbsp;4. If it is determined by a majority of the Board of a Fund, or by a majority of the disinterested Board Members, that a material irreconcilable conflict exists, the relevant Participating Insurance Companies and Participating Qualified Plans will, at their own expense and to the extent reasonably practicable as determined by a majority of the disinterested Board Members, take whatever steps are necessary to remedy or eliminate the material irreconcilable conflict, which steps could include: (a) in the case of Participating Insurance Companies, withdrawing the assets allocable to some or all of the Separate Account s from the Fund or any portfolio thereof and reinvesting such assets in a different investment medium, including another portfolio of an Fund or another Fund, or submitting the question as to whether such segregation should be implemented to a vote of all affected Variable Contract owners and, as appropriate, segregating the assets of any appropriate group (i.e., variable annuity contract owners or variable life insurance contract owners of one or more Participating Insurance Companies) that votes in favor of such segregation, or offering to the affected Variable Contract owners the option of making such a change; (b) in the case of Participating Qualified Plans, withdrawing the assets allocable to some or all of the Qualified Plans from the Fund and reinvesting such assets in a different investment medium; and (c) establishing a new registered management investment company or managed Separate Account. If a material irreconcilable conflict arises because of a decision by a Participating Insurance Company to disregard Variable Contract owner voting instructions, and that decision represents a minority position or would preclude a majority vote, then the insurer may be required, at the Fund's election, to withdraw the insurer's Separate Account investment in such Fund, and no charge or penalty will be imposed as a result of such withdrawal. If a material irreconcilable conflict arises because of a Participating Qualified Plan's decision to disregard Qualified Plan participant voting instructions, if applicable, and that decision represents minority position or would preclude a majority vote, the Participating Qualified Plan may be required, at the Fund's election, to withdraw its investment in such Fund, and no charge or penalty will be imposed as a result of such withdrawal. The responsibility to take remedial action in the event of a determination by a Board of a material irreconcilable conflict and to bear the cost of such remedial action will be a contractual obligation of all Participating Insurance Companies and Participating Qualified Plans under their agreements governing participation in the Funds, and these responsibilities will be carried out with a view only to the interest of Variable Contract owners and Qualified Plan participants.

&nbsp;&nbsp;&nbsp;&nbsp;5. For purposes of Condition 4, a majority of the disinterested Board Members of the applicable Board will determine whether or not any proposed action adequately remedies any material irreconcilable conflict, but in no event will the relevant Fund or the Investment Managers be required to establish a new funding medium for any Contract. No Participating Insurance Company shall be required by Condition 4 to establish a new funding medium for any Variable Contract if any offer to do so has been declined by vote of a majority of the Variable Contract owners materially and adversely affected by the material irreconcilable conflict. Further, no Participating Qualified Plan shall be required by Condition 4 to establish a new funding medium for any Participating Qualified Plan if (a) a majority of Qualified Plan participants materially and adversely affected by the irreconcilable material conflict vote to decline such offer, or (b) pursuant to governing Qualified Plan documents and applicable law, the Participating Qualified Plan makes such decision without a Qualified Plan participant vote.

&nbsp;&nbsp;&nbsp;&nbsp;6. The determination of the Board of the existence of a material irreconcilable conflict and its implications will be made known in writing promptly to all Participating Insurance Companies and Participating Qualified Plans.

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&nbsp;&nbsp;&nbsp;&nbsp;7. Participating Insurance Companies will provide pass-through voting privileges to Variable Contract owners who invest in registered Separate Accounts so long as and to the extent that the Commission continues to interpret the 1940 Act as requiring pass-through voting privileges for Variable Contract owners. As to Variable Contracts issued by unregistered Separate Accounts, pass-through voting privileges will be extended to participants to the extent granted by issuing insurance companies. Each Participating Insurance Company will also vote shares of the Funds held in its Separate Accounts for which no voting instructions from Contract owners are timely received, as well as shares of the Funds which the Participating Insurance Company itself owns, in the same proportion as those shares of the Funds for which voting instructions from contract owners are timely received. Participating Insurance Companies will be responsible for assuring that each of their registered Separate Accounts participating in the Funds calculates voting privileges in a manner consistent with other Participating Insurance Companies. The obligation to calculate voting privileges in a manner consistent with all other registered Separate Accounts investing in the Funds will be a contractual obligation of all Participating Insurance Companies under their agreements governing their participation in the Funds. Each Participating Qualified Plan will vote as required by applicable law and governing Qualified Plan documents.

&nbsp;&nbsp;&nbsp;&nbsp;8. All reports of potential or existing conflicts received by the Board of a Fund and all action by such Board with regard to determining the existence of a conflict, notifying Participating Insurance Companies and Participating Qualified Plans of a conflict, and determining whether any proposed action adequately remedies a conflict, will be properly recorded in the minutes of the meetings of such Board or other appropriate records, and such minutes or other records shall be made available to the Commission upon request.

&nbsp;&nbsp;&nbsp;&nbsp;9. Each Fund will notify all Participating Insurance Companies that separate disclosure in their respective Separate Account prospectuses may be appropriate to advise accounts regarding the potential risks of mixed and shared funding. Each Fund shall disclose in its prospectus that (a) the Fund is intended to be a funding vehicle for variable annuity and variable life insurance contracts offered by various insurance companies and for qualified pension and retirement plans; (b) due to differences of tax treatment and other considerations, the interests of various Contract owners participating in the Fund and/or the interests of Qualified Plans investing in the Fund may at some time be in conflict; and (c) the Board of such Fund will monitor events in order to identify the existence of any material irreconcilable conflicts and to determine what action, if any, should be taken in response to any such conflict.

&nbsp;&nbsp;&nbsp;&nbsp;10. Each Fund will comply with all provisions of the 1940 Act requiring voting by shareholders (which, for these purposes, will be the persons having a voting interest in the shares of the Funds), and, in particular, the Funds will either provide for annual shareholder meetings (except insofar as the Commission may interpret Section 16 of the 1940 Act not to require such meetings) or comply with Section 16(c) of the 1940 Act, although the Funds are not the type of trust described in Section 16(c) of the 1940 Act, as well as with Section 16(a) of the 1940 Act and, if and when applicable, Section 16(b) of the 1940 Act. Further, each Fund will act in accordance with the Commission's interpretation of the requirements of Section 16(a) with respect to periodic elections of Board Members and with whatever rules the Commission may promulgate with respect thereto.

&nbsp;&nbsp;&nbsp;&nbsp;11. If and to the extent Rules 6e-2 or 6e-3(T) under the 1940 Act is amended, or proposed Rule 6e-3 under the 1940 Act is adopted, to provide exemptive relief from any provision of the 1940 Act or the rules promulgated thereunder, with respect to mixed or shared funding on terms and conditions materially different from any exemptions granted in the order requested in the application, then the Funds and/or Participating Insurance Companies and Participating Qualified Plans, as appropriate, shall take such steps as may be necessary to comply with such Rules 6e-2 and 6e-3(T), as amended, or proposed Rule 6e-3, as adopted, to the extent that such Rules are applicable.

&nbsp;&nbsp;&nbsp;&nbsp;12. The Participating Insurance Companies and Participating Qualified Plans and/or the Investment Managers, at least annually, will submit to the Board such reports, materials or data as the Board may reasonably request so that the Board may fully carry out obligations imposed upon it by the conditions contained in the application. Such reports, materials and data will be submitted more frequently if deemed appropriate by the Board. The obligations of the Participating Insurance Companies and Participating Qualified Plans to provide these reports, materials and data to the Board, when the Board so reasonably requests, shall be a contractual obligation of all Participating Insurance Companies and Participating Qualified Plans under their agreements governing participation in the Funds.

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&nbsp;&nbsp;&nbsp;&nbsp;13. If a Qualified Plan should ever become a holder of ten percent or more of the assets of a Fund, such Qualified Plan will execute a participation agreement with the Fund that includes the conditions set forth herein to the extent applicable. A Qualified Plan will execute an application containing an acknowledgment of this condition upon such Qualified Plan's initial purchase of the shares of any Fund.

Conclusion:

Applicants assert that, for the reasons summarized above, the requested exemptions are appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the 1940 Act.

For the Commission, by the Division of Investment Management, pursuant to delegated authority.

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Templeton Variable Products Series Fund, et al.

File No. 812-11698

SECURITIES AND EXCHANGE COMMISSION

Release No. IC-24079

1999 SEC LEXIS 2177

October 13, 1999

ACTION: Order Granting Exemptions

TEXT: Templeton Variable Products Series Fund ("Templeton Trust"), Franklin Templeton Variable Insurance Products Trust ("VIP Trust"), Templeton Funds Annuity Company ("TFAC") or any successor to TFAC, and any future open-end investment company for which TFAC or any affiliate is the administrator, sub-administrator, investment manager, adviser, principal underwriter, or sponsor ("Future Funds") filed an application on July 14, 1999, and an amendment on September 17, 1999 seeking an amended order of the Commission pursuant to Section 6(c) of the Investment Company Act of 1940 ("1940 Act") exempting them from the provisions of Sections 9(a), 13(a), 15(a) and 15(b) of the 1940 Act and Rules 6e-2(b)(15) and 6e-3(T)(b)(15). The prior order (Rel. No. IC-19879) granted exemptive relief to permit shares of the Templeton Trust to be sold to and held by variable annuity and variable life insurance separate accounts of both affiliated and unaffiliated life insurance companies. The proposed relief would amend the prior order to add as parties to that order the VIP Trust and any Future Funds and to permit shares of the Templeton Trust, the VIP Trust, and Future Funds to be issued to and held by qualified pension and retirement plans outside the separate account context.

A notice of the filing of the application was issued on September 17, 1999 (Rel. No. IC-24018). The notice gave interested persons an opportunity to request a hearing and stated that an order granting the application would be issued unless a hearing should be ordered. No request for a hearing has been filed, and the Commission has not ordered a hearing.

The matter has been considered, and it is found that granting the requested exemptions is appropriate in the public interest and consistent with the protection of investors and the purposes intended by the policy and provisions of the 1940 Act.

Accordingly,

IT IS ORDERED, pursuant to Section 6(c) of the 1940 Act, that the requested exemptions from Sections 9(a), 13(a), 15(a) and 15(b) of the 1940 Act, and Rules 6e-2(b)(15) and 6e-3(T)(b)(15) thereunder, be, and hereby are, granted, effective forthwith.

For the Commission, by the Division of Investment Management, pursuant to delegated authority.

## Ex-99.(H)(25)

**PARTICIPATION AGREEMENT** 

THIS AGREEMENT, made and entered into this __ day of ________, 2026 by and between GOLDMAN SACHS VARIABLE INSURANCE TRUST, a statutory trust formed under the laws of Delaware (the "Trust"), GOLDMAN SACHS & CO. LLC, a New York limited partnership (the "Distributor"), and NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION, a Delaware life insurance company (the "Company"), on its own behalf and on behalf of each separate account of the Company set forth on Schedule 1A, 1B and IC hereto, as such Schedule may be amended from time to time.

WHEREAS, the Trust engages in business as an open-end management investment company of the series-type offering shares of beneficial interest (the "Trust Shares") in one or more separate series ("Series"), and each such Series represents an interest in a particular investment portfolio of securities and other assets (a "Fund") and may be issued in various classes ("Classes") with each such Class supporting a distinct charge and expense arrangement; and

WHEREAS, the Trust was established for the purpose of serving as an investment vehicle for life insurance company separate accounts supporting variable annuity contracts and variable life insurance policies to be offered by insurance companies that have entered into participation agreements with the Trust, and may also be utilized by certain retirement plans and other persons, to the extent permitted under applicable law and the SEC Order (as defined below); and

WHEREAS, an order of the Securities and Exchange Commission dated February 2, 1998, (File No. 812-10794) grants certain separate accounts supporting variable life insurance policies, their life insurance company depositors, and their principal underwriters, exemptions from Sections 9(a), 13(a), 15(a) and 15(b) of the Investment Company Act of 1940, and from Rules 6e-2(b)(15) and 6e-3(T)(b)(15) thereunder, to the extent necessary for such separate accounts to purchase and hold Trust Shares at the same time that such shares are sold to or held by separate accounts of affiliated and unaffiliated insurance companies supporting either variable annuity contracts or variable life insurance policies, or both, or by qualified pension and retirement plans (the "SEC Order"); and

WHEREAS, the Trust is registered as an open-end management investment company under the Investment Company Act of 1940, as amended (the "1940 Act"), and the sale of its Trust Shares is registered under the Securities Act of 1933, as amended (the "1933 Act"); and

WHEREAS, the Distributor is registered as a broker-dealer with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, and is a member in good standing of the Financial Industry Regulatory Authority ("FINRA"); and

WHEREAS, the Company is a life insurance company duly organized and existing under the laws of its state of organization, and has registered or will register, as applicable, its variable

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annuity contracts and variable life insurance policies under the 1933 Act and its separate accounts as unit investment trusts under the 1940 Act, or will rely on an applicable exemption therefrom; and

WHEREAS, the Distributor has the exclusive right to distribute Trust Shares to qualifying investors subject to applicable law and the terms of this Agreement; and

WHEREAS, the Company desires that the Trust serve as an investment vehicle for a certain separate account(s) of the Company and the Distributor desires to sell Trust Shares of certain Series and/or Class(es) to such separate account(s);

NOW, THEREFORE, in consideration of their mutual promises, the Trust, the Distributor and the Company agree as follows:

**ARTICLE I** 

**Additional Definitions** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1.** "Accounts"—the separate accounts of the Company identified in Schedules 1A and 2A and 3A to this Agreement as such Schedules may be amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2** "Applicable Law"—the federal securities laws as defined in Rule 38a-1 under the 1940 Act, any rules promulgated thereunder, FINRA regulations applicable to the Distributor, any Applicable SEC Guidance, applicable , state insurance laws or regulations that may apply to the Trust, the Distributor, the Company, the Accounts, or the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.3.** "Applicable SEC Guidance"—any applicable: (a) SEC release, opinion, or order, as well as any published "no-action" position or written interpretive guidance by the SEC staff; and (b) FINRA interpretive memoranda or notices to members, as well as any written interpretive guidance from the FINRA staff in each case to the extent relevant to the activities contemplated by this Agreement and interpreted in a manner consistent with applicable law. Applicable SEC Guidance does not include oral statements, speeches, or informal guidance by the SEC or its staff.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.4.** "Business Day"—each day that the Trust is open for business as provided in the Trust's Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.5.** "Code"—the Internal Revenue Code of 1986, as amended, and any successor thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.6.** "Contracts"—the class or classes of variable annuity contracts and/or variable life insurance policies issued by the Company and described more specifically on Schedules 1B, 2B, or 3B to this Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.7.** "Contract Owners"—the owners of the Contracts, as distinguished from all Product Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.8.** "FINRA"—The Financial Industry Regulatory Authority, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.9.** "Fund Documents" — documents prepared by the Trust that, pursuant to Rule 498(e)(1) under the 1933 Act and Rule 30e-1(b)(2)(i) under the 1940 Act, must be publicly accessible free of charge at the Web site address shown on the cover page or at the beginning of the Summary Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.10.** "Fund Documents Web Site"--the web site maintained by the Trust (or its agent) where Contract Owners, prospective Contract Owners, participants in Participating Plans, or individual investors who are Qualified Persons or invest through a Qualified Person may access Fund Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.11.** "Participating Account"—a separate account investing all or a portion of its assets in the Trust, including the Accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.12.** "Participating Insurance Company"—any life insurance company with a Participating Account, including the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.13.** "Participating Plan"—any pension or profit-sharing plan qualified under Section 401 of the Code investing in the Trust and certain other retirement plans that are Qualified Persons investing in the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.14.** "Participating Investor"—any Participating Account, Participating Insurance Company, Participating Plan, or other Qualified Person, including the Accounts and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.15.** "Products"—variable annuity contracts and variable life insurance policies supported by Participating Accounts, including the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.16.** "Product Owners"—owners of Products, including Contract Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.17.** "Prospectus"—with respect to a Series (or Class) of Trust Shares or a class of Schedule 1 Contracts, each version of the definitive Prospectus or Summary Prospectus (where used or required to be used) and supplement thereto filed with the SEC pursuant to Rule 497 under the 1933 Act. With respect to any provision of this Agreement requiring a party to take action in accordance with a Prospectus, *Prospectus* shall mean the version of the Prospectus for the applicable Series, Class or Contracts filed most recently (or most current for Schedule 2 Contracts and Schedule 3 Contracts) prior to the taking of such action. For purposes of Article IX, the term "Prospectus" shall include any statement of additional information incorporated therein. With respect to a class of Schedule 2 Contracts or Schedule 3 Contracts, Prospectus includes any offering circular or memorandum for such Contracts.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.18.** "Qualified Person" – a person permitted to hold Trust Shares under Treasury Regulation Section 1.817-5(f), as supplemented by published rulings and procedures issued thereunder by the Internal Revenue Service, in order for any Fund of the Trust to qualify for "look-through" treatment by Participating Accounts in applying the diversification requirements of Section 817(h) of the Code by taking into account the portfolio investments of a Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.19.** "Registration Statement"—with respect to the Trust Shares or Schedule 1 Contracts, the registration statement filed with the SEC to register such securities under the 1933 Act, or the most recently filed amendment thereto, in either case in the form in which it was declared or became effective. The Contracts' Registration Statement for each class of Schedule 1 Contracts is identified on Schedule 1B to this Agreement. The Trust's Registration Statement is filed on Form N-1A (File No. 333-35883).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.20.** "1940 Act Registration Statement"—with respect to the Trust or Schedule 1 Accounts, the registration statement filed with the SEC to register such person as an investment company under the 1940 Act, or the most recently filed amendment thereto. The Trust's 1940 Act Registration Statement is filed on Form N-1A (File No. 811-08361).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.21.** "Schedule 1 Accounts"—Accounts registered under the 1940 Act as unit investment trusts and listed on Schedule 1A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.22.** "Schedule 2 Accounts"—Accounts excluded from the definition of an investment company as provided for by Section 3(c)(11) of the 1940 Act and listed on Schedule 2A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.23.** "Schedule 3 Accounts"—Accounts excluded from the definition of an investment company as provided for by Section 3(c)(1) or Section 3(c)(7) of the 1940 Act and listed on Schedule 3A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.24.** "Schedule 1 Contracts"—Contracts through which interests are registered as securities under the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.25.** "Schedule 2 Contracts"—Contracts through which interests are offered and issued to trustees of qualified pension and profit-sharing plans and certain government plans identified in Section 3(a)(2) of the 1933 Act (which Contracts and interests are not registered as securities in reliance upon Section 3(a)(2) of the 1933 Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.26.** "Schedule 3 Contracts"—Contracts through which interests are offered and issued to "accredited investors", as that term is defined in Regulation D under the 1933 Act, or other investors permitted by Regulation D (which Contracts and interests are not registered as securities in reliance upon Regulation D).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.27.** "SEC"—the Securities and Exchange Commission.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.28.** "Statement of Additional Information"—with respect to the shares of the Trust or Schedule 1 Contracts, each version of the definitive statement of additional information or supplement thereto filed with the SEC pursuant to Rule 497 under the 1933 Act. With respect to any provision of this Agreement requiring a party to take action in accordance with a Statement of Additional Information, *Statement of Additional Information* shall mean the last version so filed prior to the taking of such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.29.** "Statutory Prospectus" – a prospectus that satisfies the requirements of Section 10(a) of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.30.** "Summary Prospectus" –a prospectus described in paragraph (b) of Rule 498 under the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.31.** "Trust Board"—the board of trustees of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.32.** "1933 Act"—the Securities Act of 1933, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.33.** "1940 Act"—the Investment Company Act of 1940, as amended.

**ARTICLE II** 

**Sale of Trust Shares** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1. Availability of Shares** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust has granted to the Distributor exclusive authority to distribute the Trust Shares and to select which Series or Classes of Trust Shares shall be made available to Participating Investors. Pursuant to such authority, and subject to Article X hereof, the Distributor shall make available to the Company for purchase on behalf of the Accounts, shares of the Series and Classes listed on Schedules 1B, 2B, and 3B to this Agreement, such purchases to be effected at net asset value in accordance with Section 2.3 of this Agreement. The Distributor shall make such Series and Classes available to the Company in accordance with the terms and provisions of this Agreement until: (i) this Agreement is terminated pursuant to Article X, or (ii) the Distributor suspends or terminates the offering of shares of such Series or Classes in the circumstances described in Article X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The parties acknowledge and agree that: (i) the Trust may revoke the Distributor's authority to distribute Trust Shares pursuant to the terms and conditions of its distribution agreement with the Distributor, and (ii) the Trust reserves the right in its reasonable discretion in a manner not inconsistent with the Prospectus to refuse to accept a request for the purchase of Trust Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2. Redemptions.** At the Company's request, the Trust shall redeem any full or fractional Trust Shares held by the Company on behalf of an Account at net asset value in

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accordance with Section 2.3 of this Agreement. However, the Trust may delay redemption or suspend the right of redemption of Trust Shares of any Series or Class to the extent permitted by the Applicable Law. The Company shall not redeem Trust Shares attributable to Contract Owner investments except in the circumstances permitted in Article X of this Agreement or as otherwise necessary to administer the Contracts in accordance with their terms and Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3. Purchase and Redemption Procedures** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust hereby appoints the Company as its designee for the limited purpose of receiving purchase and redemption requests for Trust Shares under Schedule 1 Contracts resulting from purchase and redemption requests by Owners of Schedule 1 Contracts for units of the Schedule 1 Accounts (but not for units of the Schedule 2 Accounts or Schedule 3 Accounts). Receipt by the Company, as designee of the Trust for this purpose, of requests for the purchase and redemption of units of the Schedule 1 Accounts on any Business Day prior to the Trust's close of business, as disclosed from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is the close of regular trading on the New York Stock Exchange), shall constitute receipt by the Trust on that Business Day of requests from such Schedule 1 Accounts for the purchase and redemption of Trust Shares necessary to facilitate such purchase and redemption of units of such Schedule 1 Accounts. This limited agency only extends to requests by the Schedule 1 Accounts for the purchase and redemption of Trust Shares that the Trust (or its transfer agent) receives by 9:00 a.m. New York Time on the next following Business Day. **Requests for the purchase and redemption of Trust Shares may be communicated (i) for manual processing, by facsimile, electronic mail, or telephone to the office or person designated by the Trust and shall be confirmed by facsimile or electronic mail, or (ii) for NSCC processing, in accordance with Section 2.3(g) below.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall pay for Trust Shares on the same day that it provides a purchase request for such Shares. Payment for Trust Shares shall be made in federal funds transmitted to the Trust by wire by 6:00 p.m. New York Time on that day (unless the Trust determines and so advises the Company that sufficient proceeds are available from redemption of Trust Shares of other Series or Classes on that day by the Company). Proceeds from the redemption of Trust Shares requested pursuant to an order received by the Company after the Trust's close of business on any Business Day shall not be applied to the payment for shares for which a purchase order was received prior to the Trust's close of business on the same day. If federal funds are not received on time, issuance of the requested Trust Shares will be cancelled and such funds will be applied to the purchase of Trust Shares as soon as practicable after receipt of such funds at the Share price next computed after receipt. If the issuance of Trust Shares is canceled because federal funds are not timely received, the Company shall indemnify the respective Fund and the Distributor with respect to all direct costs, expenses and losses caused by the Company's failure to transmit federal funds as required hereunder, relating thereto and the Company shall be responsible for any impact on Contract Owners.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Payment for Trust Shares redeemed shall be made in federal funds transmitted by wire to the Company, such funds normally to be transmitted by 6:00 p.m. New York Time on the next Business Day after the Trust receives the redemption request (unless redemption proceeds are to be applied to the purchase of Trust Shares of other Series or Classes in accordance with Section 2.3(b) of this Agreement). The Trust shall not be responsible for the proper disbursement or crediting of redemption proceeds by the Company or the Accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Any purchase or redemption request for Trust Shares held or to be held by Schedule 2 Accounts, Schedule 3 Accounts, or in the Company's general account, shall be effected at the net asset value per share next determined after the Trust's actual receipt of such request, provided that payment for Trust Shares purchased is received by the Trust in federal funds prior to the Trust's close of business as disclosed from time to time in the Prospectus for such Series or Class (which at the time of the execution of this Agreement is the close of regular trading on the New York Stock Exchange).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) [The Company and the Trust shall provide each other with all information necessary to effect wire transmissions of federal funds to the other party or the other party's agents pursuant to such protocols and security procedures as the parties may agree upon from time to time. The Trust and the Company, as applicable, shall notify the other in writing of any changes in such information at least three Business Days in advance of when such change is to take effect. The Company and the Trust shall observe customary procedures to protect the confidentiality and security of such information, but the Trust shall not be liable to the Company for any breach of security.]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The procedures set forth in this Section 2.3 are subject to any additional terms set forth in the applicable Prospectus for the Series or Class and by the requirements of Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>NSCC</u>. The parties agree that they will ordinarily use the Fund/SERV system when the Company has the operational capacity to do so. When using Fund/SERV, the following provisions apply:

&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;(i) <u>Same Day Trades</u>. On each Business Day, the Company shall aggregate all purchase orders and redemption orders for each Account received by the Company prior to the Trust's close of business as defined from time to time in the applicable Prospectus of the relevant Series or Class (which as of the date of execution of this Amendment is defined as the close of regular trading on the New York Stock Exchange, normally 4:00 p.m. Eastern Time ("Close of Trading")) ("Day 1"). The Company shall communicate to the Trust by Fund/SERV the aggregate purchase orders and redemption orders (if any) for each Account received by the Close of Trading on Day 1 by no later than the NSCC's Defined Contribution Clearance & Settlement ("DCC&S") Cycle 8 (generally 7:30 a.m. Eastern Time) on the following Business Day ("Day 2"). The Trust shall treat all trades

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communicated to the Trust in accordance with the foregoing as if received prior to the Close of Trading on Day 1.

&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;(ii) <u>Representations and Warranties</u>. The Company represents and warrants that all orders for net purchases or net redemptions derived from orders received by the Company and transmitted to Fund/SERV for processing on or as of Day 1 shall have been received in proper form and time stamped by the Company prior to the Close of Trading on Day 1. The Company represents and warrants that it has, maintains and periodically tests procedures and systems in place reasonably designed to prevent orders received after the Close of Trading on Day 1 from being executed with orders received before the Close of Trading on Day 1. The Company represents that orders it receives after the Close of Trading on Day 1, but before the Close of Trading on Day 2, will be transmitted to the Trust using Day 2's net asset value. The Company will provide such information as may be reasonably requested by the Trust or Distributor to provide assurance that the Company is complying with the foregoing procedures. The Trust or Distributor may request a detailed explanation and demonstration relating to the operation of such internal controls as part of regular due diligence efforts.

The Company and Distributor represent and warrant that each: (a) has entered into an agreement with NSCC; (b) has met and will continue to meet all of the requirements to participate in Fund/SERV and Networking; (c) intends to remain at all times in compliance with the then current rules and procedures of NSCC, all to the extent necessary or appropriate to facilitate such communications, processing, and settlement of share transactions; and (d) will notify the other parties to the Agreement if there is a change in or a pending failure with respect to its agreement with NSCC.

The Trust, Distributor and Company each represents and warrants to the other that it has the necessary facilities, equipment and personnel to perform all of its responsibilities pursuant to this Amendment and that all such responsibilities will be performed competently and in accordance with (a) all applicable laws, regulations and rules, (b) the Prospectuses and Statements of Additional Information, as amended from time to time, of the relevant Series of the Trust that are offered under the Agreement, (c) NSCC's rules, procedures and allocations of responsibility for Fund/SERV, and (c) any agreements between the parties including, without limitation, any selling or service agreement.

The Company represents and warrants that: (a) any information it supplies to the Trust or Distributor will be accurate, complete and in the appropriate format; (b) all instructions, communications and actions by the Company regarding each Account shall be true and correct and will have been duly authorized by such Account; and (c) it shall adopt, implement and maintain procedures reasonably designed to ensure the accuracy of all transmissions through Fund/SERV and to

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limit the access to, and the inputting of data into, Fund/SERV and Networking to persons specifically authorized by the Company.

&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;(iii) The Trust shall calculate the net asset value per share of each Series on each Business Day, and shall furnish to the Company through NSCC's Networking or Mutual Fund Profile System: (a) the most current net asset value information for each Series; and (b) in the case of fixed income funds that declare daily dividends, the daily accrual or the interest rate factor. All such information shall be furnished to the Company by 6:30 p.m. Eastern Time on each Business Day or at such other time as that information becomes available.

&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;(iv) The Company will wire payment for net purchase orders by the Trust's NSCC Firm Number, in immediately available funds, to an NSCC settling bank account designated by the Company in accordance with NSCC rules and procedures on the same Business Day such purchase orders are communicated to NSCC. For purchases of shares of daily dividend accrual funds, those shares will not begin to accrue dividends until the day the payment for those shares is received.

&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;(v) The Trust will redeem any full or fractional shares of any Series, when requested by the Company on behalf of an Account, at the net asset value next computed after receipt by the Trust (or its agent or the Company as the Trust's designee) of the request for redemption, as established in accordance with the provisions of the then current Prospectus of the Trust. NSCC will wire payment for net redemption orders by the Trust, in immediately available funds, to an NSCC settling bank account designated by the Company in accordance with NSCC rules and procedures on the Business Day such redemption orders are communicated to NSCC, except as provided in the Trust's Prospectus and Statement of Additional Information.

&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;(vi) The Trust shall furnish through NSCC's Networking or Mutual Fund Profile System on or before the ex-dividend date, notice to the Company of any income dividends or capital gain distributions payable to the Accounts on the shares of any Series. The Company hereby elects to receive all such income dividends and capital gain distributions as are payable on shares of a Series in additional shares of that Series, and the Company reserves the right to change this election in the future. The Trust will notify the Company of the number of shares so issued as payment of such dividends and distributions.

&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;(vii) All orders are subject to acceptance by the Distributor and become effective only upon confirmation by the Distributor. The Distributor reserves the right: (a) not to accept any specific order or part of any order for the purchase or exchange of shares through Fund/SERV; and (b) to require any redemption order or any part of any redemption order to be settled outside of Fund/SERV, in which case the order or portion thereof shall not be "confirmed" by the Distributor, but

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rather shall be accepted for redemption in accordance with Section 2.3(g)(viii) below.

&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;(viii) All trades placed through Fund/SERV and confirmed by the Distributor via Fund/SERV shall settle in accordance with the Distributor's profile within Fund/SERV applicable to the Company. The Distributor agrees to provide the Company with account positions and activity data relating to share transactions via Networking.

&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;(ix) If on any specific day the Company or Distributor are unable to meet the NSCC deadline for the transmission of purchase or redemption orders for that day, a party may at its option transmit such orders and make such payments for purchases and redemptions directly to the Company or Trust, as applicable, as is otherwise provided in the Agreement; provided, however, that the Trust must receive written notification from the Company by 8:00 a.m. Eastern Time on any day that the Company wishes to transmit such orders and/or make such payments directly to the Trust.

&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;(x) In the event that the Company or Trust is unable to or prohibited from electronically communicating, processing or settling share transactions via Fund/SERV, the Company or Trust shall notify the other, including providing the notification provided above in Section 2.3(g)(viii). After all parties have been notified, the Company and Trust shall submit orders using manual transmissions as are otherwise provided in the Agreement.

&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;(xi) Each party to the Agreement agrees that, in the event of a material error resulting from incorrect information or confirmations, the parties will seek to comply in all material respects with the provisions of applicable federal securities laws.

&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;(xii) In all circumstances where overpayments, including, without limitation, distributions, are made to the Company pursuant to this Section 2.3(g), the Company shall repay such amounts promptly, but in no event more than fifteen (15) days after the Company receives notice of such overpayment. If such amounts are not repaid timely, the Company authorizes the Trust, Distributor or any of their affiliates to offset any amount overpaid to the Company against amounts otherwise payable to the Company by the Trust, Distributor or by any of their affiliates, including, without limitation, commissions, service fees and redemption proceeds from omnibus, house, or street name accounts, after written notice to the company. In addition, processing errors which result from any delay or error caused by the Company may be adjusted through Fund/SERV by the Company by the necessary transactions on an as-of basis and the cost to the Trust or Distributor of such transactions shall be borne by the Company; provided however, prior authorization

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must be obtained from the Trust or Distributor if the transaction is back dated more than five days or to a previous calendar year.

&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;(xiii) If the duties, restrictions or responsibilities for Fund/SERV or Networking are modified by NSCC, a party may request an amendment to the Agreement to provide for such changes. However, duties shall remain as stated herein until an amendment is executed by all of the parties hereto.

&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;(xiv) NSCC's rules and procedures relating to Fund/SERV and Networking shall govern any matter in which any provision contained in this Section 2.3(g) conflicts with any such NSCC rule or procedure.

&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;(xv) The Company is responsible for communicating in each of its instructions to the Trust or Distributor the correct account number assigned by a Series of the Trust to an Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4. Net Asset Value.** The Trust shall use its best efforts to inform the Company of the net asset value per share for each Series and Class available to the Company by 6:30 P.M., New York time or as soon as reasonably practicable after the computation of the same. The Trust shall calculate such net asset values in accordance with the Prospectus for such Series or Class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5. Dividends and Distributions.** The Trust shall furnish notice to the Company by 6:30 P.M., New York Time or as soon as reasonably practicable of any income dividends or capital gain distributions payable on any Series or Class shares. The Company, on its behalf and on behalf of the Accounts, hereby elects to receive all such dividends and distributions in the form of additional shares of that Series or Class. The Company reserves the right, on its behalf and on behalf of the Accounts, to revoke this election and to receive all such dividends and capital gain distributions in cash; to be effective, such revocation must be made in writing and received by the Trust at least ten Business Days prior to a dividend or distribution date. The Trust shall notify the Company promptly of the number of Series or Class shares so issued as payment of such dividends and distributions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.6. Book Entry.** Issuance and transfer of Trust Shares shall be by book entry only. Stock certificates will not be issued to the Company or the Accounts. Purchase and redemption orders for Trust Shares shall be recorded in an appropriate ledger for each Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.7. Pricing Errors.** Any material errors in the calculation of the net asset value of a Fund, the net asset value per share of any Series or Class of Trust Shares, dividends or capital gain information shall be reported to the Company immediately upon discovery. An error shall be deemed "material" based on the Trust's written pricing error policies, applied consistently and in accordance with Applicable Law. To the extent necessary for the Company to reimburse Contract Owners for actual loses, the Distributor shall reimburse the Company for losses arising as a direct result of any material error in the calculation of the net asset value of any Fund or the net asset value per share of any Series or Class of Trust Shares. Neither the Trust, any Fund, the Distributor,

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nor any of their affiliates shall be liable for any information provided to the Company pursuant to this Agreement, which information is based on incorrect information supplied by or on behalf of the Company or any other Participating Company to the Trust or the Distributor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.8. Limits on Purchasers.** The Distributor and the Trust shall sell Trust Shares only to insurance companies and their separate accounts and to other Qualified Persons. The Distributor and the Trust shall not sell Trust Shares to any insurance company or separate account unless an agreement complying with Article VIII of this Agreement is in effect to govern such sales. The Distributor and the Trust shall not sell more than 10% of any Series of Trust Shares to any Participating Plan unless an agreement is in effect between the Distributor, the Trust and the trustee (or other fiduciary) of the Plan containing provisions substantially the same as those in Article VIII of this Agreement. The Distributor and the Trust shall not sell Trust Shares to any Participating Plan unless a written acknowledgment of the foregoing condition is received from the trustee (or other fiduciary) of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.9. Disruptive Trading.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust has adopted policies designed to prevent frequent purchases and redemptions of any Series of Trust Shares in quantities great enough to: (i) disrupt orderly management of the corresponding Fund's investment portfolio, or (ii) dilute the value of the outstanding Trust Shares of that Series ("Disruptive Trading Policies"). From time to time, the Trust and the Distributor implement procedures reasonably designed to enforce the Trust's Disruptive Trading Policies and shall provide a written description of such procedures (and revisions thereto) to the Company. As a procedure in furtherance of its Disruptive Trading Policies, the Trust may assess fees, to be paid by one or more Accounts or by the Company, upon redemption of one or more Series or Classes of Trust Shares within certain stated time periods after such shares have been purchased.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company agrees to develop, adopt and maintain policies regarding transactions in Account units reasonably designed to complement the Trust's Disruptive Trading Policies and, from time to time, to implement procedures regarding transactions in Account units reasonably designed to effectuate the Trust's procedures for preventing disruptive trading in Trust Shares. In particular, in the event that the Trust or the Distributor identifies a particular Contract Owner as having engaged in transactions in Account units that directly or indirectly violate the Trust's Disruptive Trading Policies, the Company agrees, at the written request of the Trust or the Distributor, to restrict or prohibit further transactions in Account units by that Contract Owner which could result in additional purchases and redemptions of a specified Series and/or Class of Trust Shares in violation of the Trust's Disruptive Trading Policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In furtherance of Section 2.9(b), the Trust and the Distributor may, from time to time, investigate purchases and redemptions of any Series or Class of Trust Shares by the Company on behalf of the Accounts that appears to violate, or has the potential to violate, the Trust's Disruptive Trading Policies. When requested by the Trust or the

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Distributor in writing, the Company agrees to provide the following with respect to purchases and redemptions of a specific Series and/or Class of Trust Shares over a designated period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the identity of the Contract Owner or Contract Owners whose transactions in Account units underlies the Trust
share purchases and redemptions being investigated,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the amounts and dates of transactions in Account units during the designated period representing an indirect
investment in the Series and/or Class of Trust Shares being investigated, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the identity of any investment professional known by the Company to be associated with the Contract Owner or
Contract Owners.

The Company agrees to provide the foregoing information that is on its books and records promptly. If the requested information is not on its books and records, it agrees to make reasonable efforts to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● promptly obtain the requested information, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● if requested by the Trust or the Distributor restrict or prohibit further transactions in Account units by
that Contract Owner which could result in additional purchases and redemptions of a specified Series and/or Class of Trust Shares.

**ARTICLE III** 

**Representations and Warranties** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1. Company.** The Company represents and warrants that: (a) it is an insurance company duly organized and in good standing under the laws of the jurisdiction of its organization, (b) it has legally and validly established each Account as a segregated asset account under applicable state law to serve as segregated investment accounts for the Contracts, (c) each Schedule 1 Account is registered as a unit investment trust under the 1940 Act and each such Account's 1940 Act Registration Statement has been filed with the SEC in accordance with the 1940 Act, (d) the Schedule 2 Accounts and Schedule 3 Accounts each qualify for the exclusions on which they rely for not registering as investment companies under the 1940 Act, (e) it has registered, or will register, all Schedule 1 Contracts offered and sold pursuant to this Agreement under the 1933 Act and, except as provided in Article 4.2 of this Agreement, has effective Registration Statements for that purpose, (f) it will offer and sell the Contracts in compliance in all material respects with all applicable federal and state laws and regulations, including, but not limited to, state insurance law and federal securities law suitability requirements, (g) the Contracts have been filed, qualified and/or approved for sale, as applicable, under the insurance laws and regulations of the states in which the Contracts will be offered, (h) sales of the Schedule 2 Contracts and Schedule 3 Contracts properly qualify for exemptions on which the Company relies in not registering such

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Contracts, or interests in the Account through which each is issued, under the 1933 Act, (i) its activities and those of its employees in promoting the sale and distribution of the Contracts and effecting Contract Owner transactions in Account units have not caused, and will not cause, the Company to be deemed a broker-dealer, (j) orders it places for the purchase and redemption of Trust Shares pursuant to Article 2.3 of this Agreement are the net result of transactions in units issued by an Account, instructions for which are received by the Company prior to the Trust's close of business, as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is the close of regular trading on the New York Stock Exchange), (k) as long as this Agreement remains in effect, it shall use reasonable efforts to remain in continuous compliance with Article 6.3, Article 6.4 and Article 6.5 of this Agreement, (l) it complies with the requirements of Rule 498A under the 1933 Act and Applicable SEC Guidance regarding the Rule in connection with delivery of Summary Prospectuses for the Series and Classes of Trust Shares available under this Agreement, (m) it maintains policies and procedures reasonably designed to ensure that it can meet obligations in connection with Summary Prospectuses, (n) it will notify the Distributor and the Trust promptly if for any reason it is unable to perform its obligations under this Agreement, (o) with respect to any Schedule 3 Accounts: (1) the principal underwriter for each Schedule 3 Account and any subaccounts thereof is a broker or dealer registered with the SEC under the Securities Exchange Act of 1934 or a person controlled (as defined in the 1940 Act) by such a broker or dealer; (2) shares of a Fund are and will continue to be the only securities held by the relevant subaccount; (3) it will either (i) seek instructions from Contract Owners with account value in the Schedule 3 Accounts allocated to shares of a Fund with regard to the voting of all proxies solicited in connection with the Fund and will vote those proxies only in accordance with those instructions, or (ii) vote such Fund shares held in the Schedule 3 Accounts in the same proportion as the vote of all the Fund's other shareholders; and (4) to the extent such approval is required by Applicable Law, it will not substitute another security for shares of the Fund held in a Schedule 3 Account unless the SEC has approved the substitution in the manner provided in Section 26 of the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2. Trust.** The Trust represents and warrants that: (a) it is a statutory trust duly organized and validly existing under Delaware law, (b) it is registered under the 1940 Act as an open-end management investment company and has filed a 1940 Act Registration Statement with the SEC in accordance with the provisions of the 1940 Act, (c) Trust Shares issued pursuant to this Agreement have been, or will be, duly authorized and validly issued in accordance with Applicable Law, (d) it will offer and sell Trust Shares pursuant to this Agreement in compliance in all material respects with all applicable federal and state laws and regulations, (e) it has registered, or will register, all Trust Shares offered and sold pursuant to this Agreement under the 1933 Act and has an effective Registration Statement for that purpose, (f) as long as this Agreement remains in effect, it shall use reasonable efforts to remain in continuous compliance with Article 6.1 and Article 6.2 of this Agreement, (g) the Trust's Board, a majority of whom are not interested persons of the Trust, have formulated and approved any plans to finance distribution expenses pursuant to Rule 12b-1 under the 1940 Act ("Rule 12b-1 Plans"), (h) the Trust or its service provider complies with the requirements of Rule 498 under the 1933 Act and Applicable SEC Guidance regarding the Rule in connection with the offer and sale of Trust Shares, (i) the Trust or its service provider maintains policies and procedures reasonably designed to ensure that Fund Documents are

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available on the Fund Documents Web Site in the manner required by Rule 498(e)(1), (e)(2), and (e)(3) and Applicable SEC Guidance related thereto, and (j) as provided by Rule 498(e)(4)(ii), the Trust or its service provider shall take prompt action to ensure that Fund Documents become available in the manner required by Rule 498(e)(1), (e)(2), and (e)(3) and Applicable SEC Guidance as soon as practicable following the earlier of the time it knows or should reasonably have known that the Fund Documents are not available in the required manner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3. Distributor.** The Distributor represents and warrants that: (a) it is a limited partnership duly organized and in good standing under New York law, and (b) it is registered as a broker-dealer under federal and applicable state securities laws and is a member in good standing of FINRA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4. Legal Authority.** Each party represents and warrants that the execution and delivery of this Agreement and the consummation of the transactions contemplated herein have been duly authorized by all necessary corporate, partnership or trust action, as applicable, by such party, and, when so executed and delivered, this Agreement will be the valid and binding obligation of such party enforceable in accordance with its terms.

**ARTICLE IV** 

**Regulatory Requirements** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1. Trust Filings.** The Trust shall amend its Registration Statement from time to time and maintain its effectiveness as required in order to effect the continuous offering of Trust Shares in compliance with Applicable Law. Notwithstanding the foregoing, the Trust shall register and qualify Trust Shares for sale in accordance with the laws of various states if, and to the extent, deemed advisable by the Trust or the Distributor. The Trust shall amend its 1940 Act Registration Statement as required by the 1940 Act to maintain its registration under the 1940 Act for as long as Trust Shares are outstanding. The Trust shall file Form 24F-2 and pay 1933 Act registration fees for all Series and Classes of Trust Shares as required by Rule 24f-2 under the 1940 Act. The Trust shall comply in all material respects with the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2. Account Filings.** The Company shall amend the Registration Statement for each Schedule 1 Contract from time to time and maintain its effectiveness as required in order to effect the continuous offering of such Contracts in compliance with Applicable Law for as long as purchase payments may be made under such Contracts. Notwithstanding the foregoing, the Company: (a) may permit the effectiveness of a Schedule 1 Contract's Registration Statement expire if upon request of the Trust, the Company has supplied the Trust with an SEC "no-action" letter or opinion of counsel satisfactory to the Trust's counsel to the effect that maintaining such Registration Statement on a current basis is no longer required, and (b) shall register and qualify the Contracts for sale in accordance with the securities laws of the various states only if, and to the extent, it considers such registration and qualification necessary. The Company shall amend each Schedule 1 Account's 1940 Act Registration Statement as required by the 1940 Act to maintain the Account's registration under the 1940 Act for as long as the Contracts issued through that

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Account are in force except as provided in Section 4.2(a). With regard to each Schedule 1 Account and, as applicable, Schedule 3 Account, the Company shall comply in all material respects with the 1940 Act. The Company shall make such filings and take such other actions as are required by the exemptions and exclusions on which it relies.

The Company shall be responsible for filing all Contract forms, applications, marketing materials and other documents relating to the Contracts and/or the Accounts with state insurance commissions, as required or as is customary, and shall use its best efforts: (a) to obtain any and all approvals thereof, under applicable state insurance law, of each state or other jurisdiction in which Contracts are or may be offered for sale, and (b) to keep such approvals in effect for so long as the Contracts are outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3 Delivery of Prospectuses by the Company.** The Company shall deliver (or arrange for delivery of) an appropriate Prospectus to each prospective Contract Owner describing in all material respects the terms and features of the Contract being offered. Except as provided below, the Company also shall deliver (or arrange for delivery of) a Summary Prospectus for each Fund that a prospective Contract Owner identifies on his or her application as an intended investment option under a Contract or to which a Contract Owner allocates premium payments to or transfers Contract value. In addition, the Company reserves the right to deliver (or arrange for delivery of) the Statutory Prospectus in place of the Summary Prospectus. The Company shall deliver (or arrange for delivery of) such Summary or Statutory Prospectuses at the times and in the manner required by applicable provisions of Rule 498A under the 1933 Act and rules or regulations thereunder and Applicable SEC Guidance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4. Reliance on Rule 498A.** The Company intends to satisfy its requirement to deliver to Contract Owners, under certain circumstances, a Statutory Prospectus for the Funds by relying on (and complying with the requirements, terms and conditions of) paragraph (j) of Rule 498A under the 1933 Act ("Rule 498A") for "on-line" delivery. Accordingly, the following provisions apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Use of Contract Initial Summary Prospectus.</u> The Company shall ensure that an Initial Summary Prospectus (as defined in Rule 498A) is used for each currently offered Contract described under the related registration statement, in accordance with paragraph (j)(1)(i) of Rule 498A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Use of Fund Summary Prospectus.</u> The Trust shall ensure that a Summary Prospectus (as defined in Rule 498A under the 1933 Act) is used for each currently offered Fund in accordance with paragraph (j)(1)(ii) of Rule 498A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Provision of 498A Documents.</u> Subject to Section 4.6 below, the Trust shall provide to the Company the following documents (collectively, the "498A Documents"), as specified in paragraph (j)(1)(iii) of Rule 498A: (i) Summary Prospectuses for the Funds, (ii) Statutory Prospectuses for the Funds, (iii) Statements of Additional Information for the Funds, and (iv) most recent annual and semi-annual reports to shareholders (under Rule

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30e-1 under the 1940 Act) for the Funds (together, the "Shareholder Reports"). The Trust and the Distributor shall use commercially reasonable efforts to provide the Shareholder Reports, Summary Prospectuses, Statutory Prospectuses, and Statements of Additional Information for the Funds to the Company (or its designee) on a timely basis (to facilitate the Web site posting required under paragraph (j)(1)(iii) of Rule 498A) and provide updated versions as necessary, in order to facilitate a continuous offering of the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Fund Expense and Performance Data.</u> The Trust shall provide such data regarding each Fund's expense ratios and investment performance made publicly available by the Fund as the Fund is required to prepare for inclusion in the Fund's Prospectus, as the Company shall reasonably request, to facilitate the registration and sale of the Contracts. Without limiting the generality of the forgoing, the Trust shall provide the following Fund expense and performance data on a timely basis to facilitate the Company's preparation of its annually updated registration statement for the Contracts: (i) the "Total Annual Fund Operating Expenses" for each Fund calculated in accordance with Item 3 of Form N-1A, that include any expense reimbursements or fee waiver arrangements, and the period for which the expense reimbursements or fee waiver arrangement is expected to continue and whether it can be terminated by the Fund; and (ii) the "Average Annual Total Returns" for each Fund (before taxes) as calculated pursuant to Item 4(b)(2)(iii) of Form N-1A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.5. Specific Requests for Summary Prospectuses.** The Company shall deliver or provide all Summary Prospectuses and all Statutory Prospectuses in compliance with the requirements of Rule 498A and any Applicable SEC Guidance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.6. Web Site Hosting.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust or its service provider shall maintain the Fund Documents Web Site. The Trust or its service provider shall provide the Company or its service provider with URLs to the current Fund Documents for use with the Company's electronic delivery of Fund Documents or on the Company's Web site to fulfill Company's obligations under Rule 498A under the 1933 Act as further set forth in Section 5.4 below.

The Company will be responsible for the maintenance of any web links to such URLs on the Company's Web site. The Trust agrees to use commercially reasonable efforts to employ procedures consistent with industry practices designed to reduce exposure to viruses. However, the Trust and the Distributor make no warranty, express or implied, that the Fund Documents Web Site, the Fund Documents, or any URLs provided will be free from any defects, bugs, errors or malfunctions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall maintain the Web site specified in paragraph (j)(1)(iii) of Rule 498A, so that the relevant 498A Documents are publicly accessible, free of charge, at that Web site, in accordance with the conditions set forth in that paragraph, provided that the Trust and the Distributor fulfill their obligations under this Article IV, if any. The

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Company shall be solely responsible for the development and operation of such Web site and hereby represents to the Trust and the Distributor that such website conforms to all legal and regulatory requirements, including but not limited to subparagraph (j)(1)(iii) of Rule 498A. In addition, the Trust and the Distributor are not responsible for any additional costs that may be incurred by the Company as a result of the Company's obligations as specified in this Agreement to place 498A Documents on the Company's Web site, other than as expressly stated in this Agreement. The Company shall also make reasonable efforts to comply with the "safe harbor" provisions, terms and conditions of paragraph (h)(4) of Rule 498A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.7. Response to Requests for Additional Fund Documents and 498A Documents.** Within three (3) Business Days of receiving a request for a paper copy of a Fund Document, the Trust shall promptly send the same to the person requesting it free of charge. Within three (3) Business Days of receiving a request for an electronic copy of a Fund Document, the Trust shall send, by e-mail to the requestor, either a PDF copy of, or an electronic link to, the same free of charge. The Company shall respond in accordance with Rule 498A to requests for additional Fund Documents made by a person directly to the Company or one of its affiliates. The Company assumes sole responsibility for ensuring that the 498A Documents are delivered to Contract Owners in accordance with Rule 498A. Without regard to expense allocation, the Company shall be responsible for fulfilling ad hoc requests from Contract Owners for a paper copy of any 498A Document, in accordance with paragraphs (i)(1) and (j)(3) of Rule 498A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.8. Cessation of Use of Summary Prospectuses.** The Trust shall provide the Company with at least thirty (30) days advance written notice of its intent to cease using the Summary Prospectus delivery option so that the Company can arrange to deliver a Statutory Prospectus in place of a Summary Prospectus in compliance with Section 4.3 of this Agreement. In order to comply with Rule 498(e)(1), the Trust shall continue to maintain the Fund Documents Web Site in compliance with the requirements of this Agreement and Rule 498 for a minimum of 90 days after the termination of any such notice period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.9. Voting of Trust Shares.** To the extent required by the 1940 Act or Rule 6e-2 or Rule 6e-3(T) thereunder, or other Applicable Law and subject to the Trust's obligation to provide such material as contemplated in Section 5.4 below, whenever the Trust shall have a meeting of holders of any Series or Class of Trust Shares, the Company shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● solicit voting instructions from Contract Owners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● vote Trust Shares held in each Account at such shareholder meetings in accordance with instructions received
from Contract Owners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● vote Trust Shares held in each Account for which it has not received timely instructions in the same
proportion as it votes the applicable Series or Class of Trust Shares for which it has received timely instructions; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● vote Trust Shares held in its general account in the same proportion as it votes the applicable Series or
Class of Trust Shares held by the Accounts for which it has received timely instructions.

Except with respect to matters as to which the Company has the right in connection with Schedule 1 Contracts under Rule 6e-2 or Rule 6e-3(T) under the 1940 Act, to vote Trust Shares without regard to voting instructions from Contract Owners, neither the Company nor any of its affiliates will recommend action in connection with, or oppose or interfere with, the actions of the Trust Board to hold shareholder meetings for the purpose of obtaining approval or disapproval from shareholders (and, indirectly, from Contract Owners) of matters put before the shareholders.

The Company shall remain responsible for ensuring that it calculates voting instructions and votes Trust Shares at shareholder meetings in a manner consistent with other Participating Investors. The Trust will notify the Company of any changes to the SEC Order or the conditions attaching thereto relating to voting of Trust Shares of which it becomes aware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.10. State Insurance Law Restrictions.** The Company acknowledges and agrees that it is the responsibility of the Company and other Participating Insurance Companies to determine investment restrictions and any other restrictions, limitations or requirements under state insurance law applicable to any Fund or the Trust or the Distributor, and that neither the Trust nor the Distributor shall bear any responsibility to the Company, other Participating Insurance Companies or any Product Owners for any such determination or the correctness of such determination. The Company has determined that, as of the date of this Agreement, it is not aware of any additional investment restrictions under applicable state insurance laws that are required to be imposed on the Funds beyond those reflected in the Trust's current Prospectus. The Company shall inform the Trust in writing of any additional investment restrictions imposed by state insurance law after the date of this Agreement that become applicable to a Fund from time to time as a result of the Accounts' investment therein. Upon receipt of any such information from the Company, the Trust shall determine whether it is in the best interests of shareholders to comply with any such restrictions. If the Trust determines that it is not in the best interests of shareholders (which, for this purpose, shall mean Product Owners) to comply with a restriction determined to be applicable by the Company, the Trust shall so inform the Company, and the Trust and the Company shall discuss alternative accommodations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.11. Interpretation of Law.** The Trust, the Distributor and their affiliates are not responsible or liable for acts or omissions by the Company or the Company's affiliates taken (or not taken) in reliance upon any statements or representations made by the Trust, the Distributor or any of their affiliates or their legal advisers, to the Company or the Company's affiliates concerning the applicability of any Applicable Law or Applicable SEC Guidance to the activities contemplated by this Agreement.

The Company and its affiliates are not responsible or liable for acts or omissions by the Trust, the Distributor and their affiliates taken (or not taken) in reliance upon any statements or representations made by the Company or its affiliates or their legal advisers, to the Trust, the

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Distributor and their affiliates concerning the applicability of any Applicable Law or Applicable SEC Guidance to the activities contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.12. Disclosure.** The Trust's prospectus shall state that the statement of additional information for the Trust is available from either the Distributor or the Trust. The Trust hereby notifies the Company that it is appropriate to include in Contract Prospectuses, disclosure of the potential risks of mixed and shared funding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.13. Drafts of Filings.** The Trust and the Company shall provide to each other copies of draft versions of any Registration Statements, Prospectuses, Statements of Additional Information, periodic and other shareholder or Contract Owner reports, proxy statements, information statements, solicitations for voting instructions, applications for exemptions (including applications by the Company to the SEC seeking approval of substitutions of any Fund under Section 26(c) of the 1940 Act), requests for no-action letters, and all amendments or supplements to any of the above, prepared by or on behalf of either of them and that mentions the other party by name. Such drafts shall be provided to the other party sufficiently in advance of filing such materials with regulatory authorities in order to allow such other party a reasonable opportunity to review the documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.14. Copies of Filings.** The Trust and the Company shall provide to each other at least one complete copy of all Registration Statements, Prospectuses, Statements of Additional Information, periodic and other shareholder or Contract Owner reports, proxy statements, information statements, solicitations of voting instructions, applications for exemptions (including applications by the Company to the SEC seeking approval of substitutions of any Fund under Section 26(c) of the 1940 Act), requests for "no-action" letters, and all amendments or supplements to any of the above, that relate to the Trust, the Contracts or the Accounts, as the case may be, promptly after the filing by or on behalf of each such party of such document with the SEC or other regulatory authorities (it being understood that this provision is not intended to require the Trust to provide to the Company copies of any such documents prepared, filed or used by Participating Investors other than the Company and the Accounts). If the Trust, Distributor or any of their affiliates are named in the filing(s), the Company shall send the filings to the contacts listed in Article XII.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.15. Regulatory Responses.** Each party shall promptly provide to all other parties copies of responses to no-action requests, notices, orders and other rulings received by such party with respect to any filing covered by Section 4.14 of this Agreement. If the Trust, Distributor or any of their affiliates are named in the regulatory response(s), the Company shall send the regulatory response(s) to the contacts listed in Article XII.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.16. Complaints and Proceedings** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust and/or the Distributor shall immediately notify the Company of: (i) the issuance by any court or regulatory body of any stop order, cease and desist order, or other similar order (but not including an order of a regulatory body exempting or

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approving a proposed transaction or arrangement) with respect to the Trust's Registration Statement or the Prospectus of any Series or Class, (ii) any request by the SEC for any amendment to the Trust's Registration Statement or the Prospectus of any Series or Class, (iii) the initiation of any proceedings for that purpose or for any other purposes relating to the registration or offering of the Trust Shares, or (iv) any other action or circumstances that may prevent the lawful offer or sale of Trust Shares or any Class or Series in any state or jurisdiction, including, without limitation, any circumstance in which (A) such shares are not registered and, in all material respects, issued and sold in accordance with applicable state and federal law or (B) such law precludes the use of such shares as an underlying investment medium for the Contracts. The Trust will make every reasonable effort to prevent the issuance of any such stop order, cease and desist order or similar order and, if any such order is issued, to obtain the lifting thereof at the earliest possible time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall immediately notify the Trust and the Distributor of: (i) the issuance by any court or regulatory body of any stop order, cease and desist order, or other similar order (but not including an order of a regulatory body exempting or approving a proposed transaction or arrangement) with respect to the Contracts' Registration Statement or the Contracts' Prospectus, (ii) any request by the SEC for any amendment to the Contracts' Registration Statement or Prospectus, (iii) the initiation of any proceedings for that purpose or for any other purposes relating to the registration or offering of the Contracts, or (iv) any other action or circumstances that may prevent the lawful offer or sale of the Contracts or any class of Contracts in any state or jurisdiction, including, without limitation, any circumstance in which such Contracts are not registered, qualified and approved, and, in all material respects, issued and sold in accordance with applicable state and federal laws. The Company will make every reasonable effort to prevent the issuance of any such stop order, cease and desist order or similar order and, if any such order is issued, to obtain the lifting thereof at the earliest possible time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each party shall immediately notify the other parties when it receives notice, or otherwise becomes aware of, the commencement of any litigation or proceeding against such party or a person affiliated with such party arising in connection with the Trust or the Accounts or the issuance or sale of Trust Shares or the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company shall provide to the Trust and the Distributor any complaints it has received from Contract Owners pertaining to the Trust or a Fund, and the Trust and Distributor shall each provide to the Company any complaints it has received from Contract Owners relating to the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.17. Cooperation.** Each party hereto shall cooperate with the other parties and all appropriate government authorities (including without limitation the SEC, FINRA and state securities and insurance regulators) and shall permit such authorities reasonable access to its books and records in connection with any investigation or inquiry by any such authority relating to this Agreement or the transactions contemplated hereby. However, such access shall not extend to attorney-client privileged information.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.18. Money Market Fund.** The Company acknowledges and agrees that Contract Owners will suffer no financial loss or other harm in the event that the Trust Board determines to temporarily or permanently use market values rather than the amortized cost value to value the assets of the Trust's Money Market Fund, thereby preventing the Trust from maintaining a constant net asset value per share for the Money Market Fund Class of Trust Shares.

**ARTICLE V** 

**Sale, Administration and Servicing of the Contracts** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1. Sale of the Contracts.** The Company shall be responsible, as between the parties, for the sale and marketing of the Contracts. The Company shall provide Contracts, the Contracts' and Trust's Prospectuses (or Summary Prospectuses), Contracts' and Trust's Statements of Additional Information, and all amendments or supplements to any of the foregoing to Contract Owners and prospective Contract Owners, all in accordance with Applicable Law. Without limiting the generality of the foregoing, the Company shall: (1) enter into and enforce agreements with affiliated and unaffiliated parties to, and (2) adopt and implement written compliance policies and procedures reasonably designed to, ensure that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● all persons offering or selling the Contracts are duly licensed and registered under Applicable Law,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● all individuals offering or selling the Contracts are duly appointed agents of the Company and are registered
representatives of a FINRA member broker-dealer,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● each sale of a Contract satisfies all suitability requirements under Applicable Law,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● all persons offering or selling the Contracts disclose to prospective Contract Owners remuneration each
expects to receive in connection with sales of the Contracts and any conflicts of interest arising therefrom as required by Applicable Law, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● no persons offering or selling the Contracts intend to engage in Account unit transactions that would violate
the Company's or the Trust's Disruptive Trading Policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Prospectuses are delivered as required by Article IV of this Agreement and Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2. Anti-Money Laundering.** The Company shall comply with all Applicable Laws designed to prevent money "laundering", and if required by such laws or regulations, to share with the Trust information about individuals, entities, organizations and countries suspected of possible terrorist or money "laundering" activities in accordance with Section 314(b) of the USA Patriot Act. In particular, the Company agrees that:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● as part of processing an application for a Contract, it will verify the identity of applicants and, if an
applicant is not a natural person, will verify the identity of prospective principal and beneficial owners submitting an application for a Contract,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● as part of its ongoing compliance with the USA Patriot Act, it will, from time to time, reverify the identity
of Contract Owners, including the identity of principal and beneficial owners of Contracts held by non-natural persons,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● as part of processing an application for a Contract, it will verify that no applicant, including prospective
principal or beneficial Contract Owners, is a "specially designated national" or a person from an embargoed or "blocked" country as indicated by the Office of Foreign Asset Control ("OFAC") list of such persons,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● as part of its ongoing compliance with the USA Patriot Act, it will, from time to time, reverify that no
Contract Owner, including a principal or beneficial Contract Owners, is a "specially designated national" or a person from an embargoed or "blocked" country as indicated by the OFAC list of such persons,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● it will ensure that money tendered to the Trust as payment for Trust Shares did not originate with a bank
lacking a physical place of business (*i.e.*, a "shell" bank) or from a country or territory named on the list of high-risk or non-cooperating countries or jurisdictions published by the
Financial Action Task Force, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● if any of the foregoing cease to be true, the Trust or its agents, in compliance with the USA Patriot Act or
Bank Secrecy Act, may seek authority to block transactions in Account units arising from accounts of one or more such Contract Owners with the Company or of one or more of the Company's accounts with the Trust.

The Trust and the Distributor shall comply with all Applicable Laws designed to prevent money "laundering", and if required by such laws or regulations, to share with the Company information about individuals, entities, organizations and countries suspected of possible terrorist or money "laundering" activities in accordance with Section 314(b) of the USA Patriot Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.3. Anti-Bribery.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company warrants that in any way related to this Agreement, it and its affiliates, agents, and employees will at all times comply with all applicable laws, regulations, including self-regulatory organization ("SRO") regulations, and administrative requirements, including those pertaining to tax reporting and tax compliance, tax evasion or the facilitation of tax evasion, and those dealing with bribery, corruption, improper or illegal payments, gifts,

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gratuities or money laundering, and shall take no action which would subject the Trust to penalties under applicable laws, regulations and administrative requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company represents that, in connection with this Agreement, it has not and warrants that it will not (i) make (or cause to be made), offer, promise, or authorize any payments or gifts or anything of value, directly or indirectly, to any Public Official (as defined below) or to any other person to secure an improper advantage, improperly obtain or retain business or an improper advantage, or otherwise to induce any person to perform their duties improperly, or (ii) pay, offer, or agree to pay (or cause to be paid, offered or agreed to be paid) any political contributions or donations. In performing this Agreement, the Company agrees to not knowingly authorize, make, permit to be made, or allow any agents, subcontractors, vendors, consultants, or other third parties ("Third Parties") to make any payments, which, if made by the Company, would violate this Agreement. As used in this Agreement, "Public Official" means any person holding an elected or appointed office and any other officer or employee of a government or a department, agency, instrumentality or part thereof (including a state-owned or -controlled enterprise or a joint venture/partnership with a government entity), any officer or employee of a public international organization or a political party, and any candidate for political office; or any person exercising a public function or acting in an official capacity for or on behalf of any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company represents that, in connection with this Agreement, it has not and warrants that it will not receive or solicit bribes, kickbacks, or other improper benefits related to its services to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company hereby acknowledges that it has received and reviewed a copy of the Goldman Sachs Anti-Bribery and Anti-Corruption Compliance Statement (available at https://www.goldmansachs.com/investor-relations/corporate-governance/corporate-governance-documents/anti-bribery-program.pdf , which may be amended from time to time), setting forth the Trust's anti-corruption policy with respect to its business activities and relations with clients and prospective clients, and warrants and agrees that in connection with this Agreement, the Company will act on a consistent basis with such Statement and in no event shall take any action that would cause or reasonably be expected to cause the Trust to be in violation of such Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) To the extent the Company retains Third Parties to perform material obligations directly in connection with its obligations to the Trust under this Agreement, the Company warrants that it will ensure appropriate, risk-based due diligence is conducted on each such Third Party consistent with industry best practices, provide appropriate training to relevant employees of the Third Parties, monitor their activities to ensure compliance with applicable laws as it relates to this Agreement, and take such other steps as are reasonable and proportionate to ensure compliance with applicable laws related to the Agreement, as well as the terms and conditions of this Agreement. The Company shall ensure that its contracts with Third Parties approved by the Firm include clauses (a) – (c) above.The Company also agrees to comply with any other reasonable requirements set forth by the Trust as part of the Company's retention of Third Parties related to the Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Company agrees to give prompt written notice to the Trust in the event that at any time during the term of this Agreement the Company becomes aware that any representations set forth in this Section are no longer accurate or the Company has failed to comply with or has breached any of its warranties hereunder. In the event of such notice, or if the Trust otherwise verifies or determines reasonably and in good faith that the representations are no longer true and accurate or that the Company has failed to comply with or has breached any of its warranties hereunder, then the Trust shall have the unilateral right to terminate this Agreement; provided, however, that the Trust may provide the Company with the opportunity to cure such failure or breach in accordance with the following procedures: Goldman Sachs shall provide the Company with written notice describing such failure or breach with a request to cure such failure or breach. The Company shall then have thirty (30) days from receipt of such notice to cure such failure or breach, provided that no cure period shall apply in the case of fraud, willful misconduct, or violations of applicable anti-corruption laws. If the Company fails to cure such failure or breach within the applicable cure period (or if no cure period applies), the Trust may terminate this Agreement immediately upon written notice. In such event or upon the Trust's determination to terminate without a cure period, the Company shall not be entitled to receive any compensation from the time of such failure or breach, including for services previously rendered to the extent that those services are related to the failure or breach.t.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4. Administration and Servicing of the Contracts.** The Company shall be fully responsible for the underwriting, issuance, service and administration of the Contracts and for the administration of the Accounts, including, without limitation, the calculation of performance information for the Contracts, the timely payment of Contract Owner redemption requests and processing of Contract transactions, and the maintenance of a service center, such functions to be performed in all respects at a level commensurate with those standards prevailing in the variable insurance industry. The Company shall provide to Contract Owners all Trust reports, information statements, proxy statements and other voting instruction solicitation materials, and updated Trust Prospectuses (or Summary Prospectuses) as required by Applicable Law and subject to the Trust's obligation to deliver such materials to the Company as stated in Sections 4.6 and 4.9.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.5. Trust Prospectuses and Reports.** In order to enable the Company to fulfill its obligations under this Agreement and Applicable Law, the Trust shall provide the Company with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the 498A Documents for the Series and Classes listed on Schedules 1B, 2B, and 3B in an electronic format that is suitable for website posting and in a format, or formats, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● are both human-readable and capable of being printed on paper in human-readable format (in accordance with paragraph (h)(2)(i) of Rule 498A);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● permit persons accessing the Fund's Statutory Prospectus and SAI to move directly back and forth between
each section heading in a table of contents of such document and the section of the document referenced in that section heading (that is, these documents must include linking, in accordance with paragraph (h)(2)(ii) of Rule 498A); and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● permit persons accessing the 498A Documents to permanently retain, free of charge, an electronic version of
such materials that meet the requirements of subparagraphs (h)(2)(i) and (ii) of Rule 498A (in accordance with paragraph (h)(3) of Rule 498A); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a copy, in camera-ready form or form otherwise suitable for printing or duplication, of any Trust proxy soliciting material for such Series or Classes.

The Trust shall provide the Company, sufficiently in advance of any meeting of holders of Trust Shares, with copies of all proxy statements, information statements, solicitations for voting instructions and other materials required by Applicable Law to be furnished to Contract Owners in connection with such meeting, in such form and quantity (including electronic format, where applicable) as the Company may reasonably request to permit the Company to comply with its obligations under Section 4.9 and Applicable Law.

The Trust and the Company may amend this section 5.5, but the Trust reserves the right to require its prior approval of the printing of the foregoing documents. The Trust shall provide the Company at least 10 days advance written notice when any such material shall become available, provided, however, that in the case of a supplement, the Trust shall provide the Company notice reasonable in the circumstances, it being understood that circumstances surrounding such supplement may not allow for advance notice. The Company may not alter any material so provided by the Trust or the Distributor (including, without limitation, presenting or delivering such material in a different medium such as electronic mail or attachments thereto) without the prior written consent of the Distributor. Nothing in this section shall relieve the Company of its obligations under Rule 498A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.6. Company Advertising Material.** The Company shall be responsible for ensuring that any advertising, sales literature or other promotional material prepared by or on behalf of the Company in which the Trust, a Fund, the Distributor or an affiliate thereof is named or referred to is not materially inaccurate, misleading or otherwise is in compliance with Applicable Law. Upon reasonable written request of the Trust, a Fund, or Distributor, the Company shall furnish to the Trust or the Distributor each piece of advertising, sales literature or other promotional material in which the Trust, a Fund, the Distributor or an affiliate thereof is named. If the Trust or the Distributor reasonably determines that any such material is materially inaccurate, misleading, or otherwise not in compliance with Applicable Law to the extent related to the mention of the Trust, a Fund, the Distributor or an affiliate thereof, the Trust or the Distributor may notify the Company in writing, and the Company shall use commercially reasonable efforts to cease further use of such material or to revise it to address the identified concerns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.7. Trusts Advertising Material.** The Trust and the Distributor shall be responsible for ensuring that any advertising, sales literature or other promotional material prepared by or on behalf of the Trust or the Distributor in which the Company or any affiliate thereof, any Account or any Contract is named or referred to is not materially inaccurate, misleading or otherwise is in compliance with Applicable Law. Upon reasonable written request of the Company, the Trust or the Distributor shall furnish to the Company each piece of advertising, sales literature or other

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promotional material in which the Company or an affiliate thereof, an Account or a Contract is named. If the Company reasonably determines that any such material is materially inaccurate, misleading, or otherwise not in compliance with Applicable Law to the extent related to the mention of the Company or any affiliate thereof, any Account or any Contract is named or referred to, the Company may notify the Trust or the Distributor in writing, and the Trust or the Distributor shall use commercially reasonable efforts to cease further use of such material or to revise it to address the identified concerns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.8. Trade Names.** No party shall use any other party's names, logos, trademarks or service marks, whether registered or unregistered in a manner that is materially misleading, inaccurate, or inconsistent with Applicable Law. Upon reasonable written notice, a party may require the other party to cease or revise any use of its name, logo, trademark or service mark that does not comply with this Section 5.8.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.9. Additional Covenants and Representations by Company.** Except with the prior written consent of the Trust, the Company shall not give any information or make any representations or statements about the Trust or the Funds nor shall it authorize or allow any other person to do so except information or representations contained in the Trust's Registration Statement or the Trust's Prospectuses or in proxy statements for the Trust, or in advertisements, sales literature or other promotional material prepared in accordance with this Article V, or in published reports or statements of the Trust in the public domain.

The Company represents that advertisements, sales literature or other promotional material for the Contracts prepared by the Company or its affiliates are and will be consistent with Applicable Law, including, but not limited to, FINRA Conduct Rules 2210 , 2212, 2213, and 2214.

The Company has adopted and implemented, or shall adopt and implement, written compliance procedures reasonably designed to ensure that information concerning the Trust, the Distributor, or any of their affiliates which is intended for use by brokers or agents selling the Contracts (*i.e.,* information that is not intended for distribution to Contract Owners or prospective Contract Owners) is used solely in the manner so intended. Neither the Trust, the Distributor, nor any of their affiliates shall be liable for any losses, damages, or expenses relating to the improper use of such "broker only" materials by agents of the Company or its affiliates who are unaffiliated with the Trust or the Distributor.

The parties agree that this Section 5.9 is not intended to imply that the Company is an underwriter or distributor of the Trust's shares or a dealer in the Trust's shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.10. Additional Covenants and Representations by Trust.** Except with the prior written consent of the Company, the Trust shall not give any information or make any representations on behalf of the Company or concerning the Company, the Accounts or the Contracts other than the information or representations contained in the appropriate Contract Registration Statement or Contract Prospectus or in published reports of or statements by the Company or the Accounts which are in the public domain or in advertisements, sales literature or

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other promotional material approved in writing by the Company in accordance with this Article V.

The Trust represents that advertisements, sales literature or other promotional material for the Trust prepared by the Distributor or its affiliates in connection with the sale of the Contracts are and will be consistent with Applicable Law, including, but not limited to, FINRA Conduct Rules 2210, 2212, 2213, and 2214.

The Trust or the Distributor shall mark information produced by or on behalf of the Trust which is intended for use by brokers or agents selling the Contracts (*i.e.,* information that is not intended for distribution to Contract Owners or prospective Contract Owners) "FOR BROKER USE ONLY," and neither the Company nor any of its affiliates shall be liable for any losses, damages, or expenses arising on account of the use by brokers of such information with third parties in the event that it is not so marked.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.11. Advertising.** For purposes of this Article V, the phrase "advertising, sales literature or other promotional material" includes, but is not limited to, any material constituting sales literature, advertising, or communications with the public under FINRA Conduct rules, the 1940 Act or the 1933 Act. Such material includes, without limitation, the following materials for prospective Contract Owners, existing Contract Owners, wholesalers and other broker-dealers, rating or ranking agencies, or the press:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● advertisements (such as material published, or designed for use in, a newspaper, magazine, or other
periodical, radio, television, telephone or tape recording, videotape display, signs or billboards, motion pictures, websites, or other public media),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● sales literature (i.e., any written communication distributed or made generally available to customers or the
public, including brochures, circulars, research reports, market letters, form letters, seminar texts, reprints or excerpts of any other advertisement, sales literature, electronic mail, or published article),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● educational or training materials or other communications distributed or made generally available to some or
all agents or employees, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● registration statements, prospectuses, statements of additional information, shareholder reports, and proxy
materials.

**ARTICLE VI** 

**Compliance with Code** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1. Section 817(h).** The Trust, on behalf of each Fund, will comply with Section 817(h) of the Code and Treasury Regulation 1.817-5 thereunder, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts, and any amendments or other modifications to such Section and Regulation or successors thereto, to the extent

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applicable to the Fund as an investment company underlying the Account. The Trust shall notify the Company immediately upon having a reasonable basis for believing that a Fund has ceased to so comply and will not be able to comply within the grace period afforded by Treasury Regulation 1.817-5.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2. Subchapter M.** The Trust shall maintain the qualification of each Fund as a regulated investment company (under Subchapter M of the Code or any successor or similar provision), and the Trust shall notify the Company immediately upon having a reasonable basis for believing that a Fund has ceased to so qualify and will not be able to qualify within the grace period afforded by Section 851 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.3. Company and Contracts.** The Company represents and warrants that it is a life insurance company within the meaning of Section 816(a) of the Code. The Company shall ensure that at the time each Contract is issued it is a variable contract (as defined in Section 817(d) of the Code) which is treated as a life insurance, endowment, or annuity contract under applicable provisions of the Code, and that as long as the Accounts hold shares of the Trust the Company shall maintain such treatment for each outstanding Contract, provided that the Company makes no representation or undertaking to the extent such treatment depends on compliance by the Trust or any Fund with applicable provisions of the Code. The Company shall notify the Trust and the Distributor immediately upon having any basis for believing that the Contracts will not be treated as life insurance, endowment, or annuity contracts under applicable provisions of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.4 Regulation 1.817-5(f).** The Company shall ensure that no Fund fails to remain eligible for "look-through" treatment under Treasury Regulation 1.817-5(f) by reason of a current or future failure of the Company, the Accounts or the Contracts to comply with any applicable requirements of the Code or Treasury Regulations. The Company shall notify the Trust and the Distributor immediately upon having any basis for believing that the failure of the Company, the Accounts or the Contracts to comply with any applicable requirements of the Code or Treasury Regulations could render a Fund ineligible, or jeopardize a Fund's eligibility, for "look-through" treatment under Treasury Regulation 1.817-5(f). In the event of such a failure, the Company shall take all necessary steps to cure any such failure, including, if necessary, obtaining a waiver or closing agreement with respect to such failure from the U.S. Internal Revenue Service at the Company's expense.

**6.5 Modified Endowment Contracts.** [The Company shall ensure that any Prospectus offering a Contract that is designed to be a "*modified endowment contract*," as that term is defined in Section 7702A of the Internal Revenue Code, will identify such Contract as a *modified endowment contract*.]

**ARTICLE VII** 

**Expenses** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1. Expenses.** All expenses incident to each party's performance under this Agreement (including expenses expressly assumed by such party pursuant to this Agreement) shall be borne

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by such party to the extent permitted by law, except as otherwise provided below or in a separate agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2. Trust Expenses.** Expenses incident to the Trust's performance of its duties and obligations under this Agreement include, but are not limited to, the costs of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) registration and qualification of the Trust Shares under the federal securities laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) preparation and filing with the SEC of the Trust's Prospectuses, Summary Prospectuses, Statement of Additional Information, Registration Statement, information statements, proxy statements and other proxy materials, and shareholder reports, and preparation of a "camera-ready" copy of the foregoing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) preparation of all statements and notices required by Applicable Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) provision and maintenance of the Fund Documents Web Site;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) printing of all information statements, proxy statements and other proxy materials, shareholder reports, Prospectuses, Summary Prospectuses and other documents required to be provided by the Trust to its existing shareholders, and providing sufficient copies of the same to the Company for distribution to Contract Owners then invested in Accounts that hold Trust Shares; provided, however, that if the Company prints copies of a Trust Prospectus (or portions thereof) or Summary Prospectus as part of a larger document containing Prospectuses of other investment companies, any expense obligation of the Trust shall be limited only to its share of the cost of printing the document. For this purpose, the Trust's share shall be the percentage of the total cost of the document represented by the ratio that the number of pages of the Trust's Prospectus or Summary Prospectus bears to the total number of pages in the document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) all taxes on the issuance or transfer of Trust Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) payment of all expenses of operating the Trust, including, without limitation, expenses relating to fees for custody, auditing, transfer agency services, legal services, investment management services, and insurance coverage, as well as Trustee compensation and 1940 Act Rule 24f-2 fees in connection with sales of Trust Shares to Schedule 2 Accounts, Schedule 3 Accounts, and Qualified Persons;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) payment of any expenses permitted to be paid or assumed by the Trust pursuant to a Rule 12b-1 Plan and/or shareholder service plan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) provision or printing of Trust proxy statements and other proxy materials required in connection with the Company's obligation to solicit voting instructions from Contract Owners.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3. Company Expenses.** Expenses incident to the Company's performance of its duties and obligations under this Agreement include, but are not limited to, the costs of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) registration and qualification of the Schedule 1 Contracts under Applicable Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) preparation of Contract Prospectuses, preparation of Registration Statements with the SEC for Schedule 1 Contracts, payment of registration fees for Schedule 1 Contracts pursuant to Rule 24f-2 under the 1940 Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the sale, marketing and distribution of the Contracts, including compensation for Contract sales, printing and delivery of Contract Prospectuses to current and prospective Contract owners, and printing and delivery of the Trust's Prospectuses or Summary Prospectuses to prospective Contract Owners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) provision and maintenance of internet websites other than the Fund Documents Web Site, including the Web site specified in paragraph (j)(1)(iii) of Rule 498A;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) administration of the Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) payment of all expenses of operating the Accounts; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) preparation, printing and delivery of all statements and notices to Contract Owners required by Applicable Law other than those paid for by the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.4. Other Expenses and Payments.** The Trust and the Distributor shall pay no fee or other compensation to the Company under this Agreement. Each party, however, shall, in accordance with the allocation of expenses specified in this Agreement, reimburse other parties for expenses paid by such other parties, but allocated to it. In addition, nothing herein shall prevent the parties from otherwise agreeing to perform, and arranging for appropriate compensation for, services relating to the Trust, the Distributor, the Company or the Accounts.

Notwithstanding anything else in this Agreement, pursuant to any Rule 12b-1 Plan adopted by the Trust, and as contemplated by Article 3.2(g) of this Agreement, the Trust or any Series or Class thereof may pay the Distributor, and the Distributor may pay the principal underwriter or distributor of one or more classes of Contracts, for activities primarily intended to result in the sale of Trust Shares to the Accounts through which such Contracts are issued. Likewise, pursuant to any shareholder service plan adopted and implemented by the Trust or any Series or Class thereof under Rule 12b-1 of the 1940 Act or otherwise, the Trust or the appropriate Series or Class may pay the Distributor and the Distributor may pay the principal underwriter or distributor of one or more classes of Contracts, or the Company, for activities related to personal service and/or

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maintenance of Contract Owner accounts and/or administration services, as permitted by such plan.

**ARTICLE VIII** 

**Potential Conflicts** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1. SEC Order.** The parties to this Agreement acknowledge that the Trust has obtained the SEC Order granting exemptions from various provisions of the 1940 Act and the rules thereunder to Participating Accounts supporting variable life insurance policies to the extent necessary to permit them to hold Trust Shares when Trust Shares also are sold to and held by variable annuity and variable life insurance separate accounts of both affiliated and unaffiliated Participating Insurance Companies and other Qualified Persons (as defined in Section 1.18 hereof). The relief provided by the SEC Order is conditioned upon the Trust and each Participating Insurance Company complying with conditions and undertakings substantially as provided in this Article VIII. The Trust and the Distributor reserve the right to determine that one or more provisions of this Article VIII are no longer applicable, and in that event will notify the Company to that effect. Upon receipt of such notice by the Company, this Agreement shall be deemed amended to eliminate the provisions of Article VIII specified in the notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2. Company Monitoring Requirements.** The Company will monitor its operations with respect to the Trust for the purpose of identifying any material irreconcilable conflicts or potential material irreconcilable conflicts between or among the interests of Participating Plans, Product Owners of variable life insurance policies and Product Owners of variable annuity contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.3. Company Reporting Requirements.** The Company shall report any conflicts or potential conflicts to the Trust Board and will, at the request of the Trust, provide the Trust Board, at least annually, with all information reasonably necessary for the Trust Board to consider any issues raised by such existing or potential conflicts or by the conditions and undertakings required by the Exemptive Order. The Company also shall assist the Trust Board in carrying out its obligations including, but not limited to: (a) informing the Trust Board whenever it disregards Contract Owner voting instructions with respect to variable life insurance policies, and (b) providing such other information and reports as the Trust Board may reasonably request. The Company will carry out these obligations with a view only to the interests of Contract Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.4. Trust Board Monitoring and Determination.** The Trust Board shall monitor the Trust for the existence of any material irreconcilable conflicts between or among the interests of Participating Plans, Product Owners of variable life insurance policies and Product Owners of variable annuity contracts and determine what action, if any, should be taken in response to those conflicts. A majority vote of Trustees who are not interested persons of the Trust as defined in the 1940 Act (the "disinterested trustees") shall represent a conclusive determination as to the existence of a material irreconcilable conflict between or among the interests of Product Owners and Participating Plans and as to whether any proposed action adequately remedies any material

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irreconcilable conflict. The Trust Board shall give prompt written notice to the Company and Participating Plan of any such determination. Minutes of the meetings of the Trust Board, or other appropriate records of the Trust, shall record all reports received by the Board regarding such conflicts and all actions taken by the Board in response.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.5. Undertaking to Resolve Conflict.** In the event that a material irreconcilable conflict of interest arises between Product Owners of variable life insurance policies or Product Owners of variable annuity contracts and Participating Plans, the Company will, at its own expense, take whatever action is necessary to remedy such conflict as it adversely affects Contract Owners up to and including: (1) establishing a new registered management investment company, and (2) withdrawing assets from the Trust attributable to reserves for the Contracts subject to the conflict and reinvesting such assets in a different investment medium (including another Fund) or submitting the question of whether such withdrawal should be implemented to a vote of all affected Contract Owners, and, as appropriate, segregating the assets supporting the Contracts of any group of such owners that votes in favor of such withdrawal, or offering to such owners the option of making such a change. The Company will carry out the responsibility to take the foregoing action with a view only to the interests of Contract Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.6. Withdrawal.** If a material irreconcilable conflict arises because of the Company's decision to disregard the voting instructions of Contract Owners of variable life insurance policies and that decision represents a minority position or would preclude a majority vote at any Fund shareholder meeting, then, if Trust Board so requests, the Company will redeem the shares of the Trust to which the disregarded voting instructions relate and terminate this Agreement with respect to the Account through which such Contracts were issued. No charge or penalty, however, will be imposed in connection with such a redemption.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.7. Expenses Associated with Remedial Action.** In no event shall the Trust be required to bear the expense of establishing a new funding medium for any Contract. The Company shall not be required by this Article VIII to establish a new funding medium for any Contract if an offer to do so has been declined by vote of a majority of the Contract Owners materially adversely affected by the irreconcilable material conflict.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.8. Successor Rules.** If and to the extent that Rule 6e-2 and Rule 6e-3(T) are amended, or Rule 6e-3 is adopted, to provide exemptive relief from any provisions of the 1940 Act or the rules promulgated thereunder with respect to mixed and shared funding on terms and conditions materially different from those contained in the SEC Order, then: (a) the Trust and/or the Company, as appropriate, shall take such steps as may be necessary to comply with Rules 6e-2 and 6e-3(T), as amended, or Rule 6e-3, as adopted, as applicable, to the extent such rules are applicable, and (b) Sections 8.2 through 8.7 of this Agreement shall continue in effect only to the extent that terms and conditions substantially identical to such Sections are contained in such Rule(s) as so amended or adopted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.9. Money Market Fund.** The Company acknowledges and agrees that the Trust's failure to maintain a constant net asset value per share for the Money Market Fund Class of Trust

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Shares, as contemplated by Section 4.17 of this Agreement, will not give rise to a material irreconcilable material conflict between the interests of Contract Owners or any class of Contract Owners and the interests of any other class of Product Owners, or Product Owners generally.

**ARTICLE IX** 

**Indemnification** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.1. Indemnification by the Company.** The Company hereby agrees to, and shall, indemnify and hold harmless the Trust, the Distributor and each person who controls or is affiliated with the Trust or the Distributor within the meaning of such terms under the 1933 Act or 1940 Act (but not any other Participating Insurance Companies or Qualified Persons) and any officer, trustee, partner, director, employee or agent of the foregoing, against any and all losses, claims, damages or liabilities, joint or several (including any investigative, legal and other expenses reasonably incurred in connection with, and any amounts paid in settlement of, any action, suit or proceeding or any claim asserted), to which they or any of them may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, expenses or liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) arise out of or are based upon any untrue statement of any material fact or alleged untrue statement of material fact contained in a Contract Registration Statement, Contract Prospectus, sales literature or other promotional material for the Contracts or the Contracts themselves (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances in which they were made; provided that this obligation to indemnify shall not apply if such statement or omission was made in reliance upon and in conformity with information furnished in writing to the Company by the Trust or the Distributor for use in a Contract Registration Statement, Contract Prospectus or in the Contracts or sales literature or promotional material for the Contracts (or any amendment or supplement to any of the foregoing) or otherwise for use in connection with the sale of the Contracts or Trust Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) arise out of any untrue statement or alleged untrue statement of a material fact contained in the Trust Registration Statement, any Prospectus for Series or Classes or sales literature or other promotional material of the Trust (or any amendment or supplement to any of the foregoing), or the omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances in which they were made, if such statement or omission was made in reliance upon and in conformity with information furnished to the Trust or Distributor in writing by the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) arise out of or are based upon any wrongful conduct of, or violation of Applicable Law by, the Company or persons under its control or subject to its

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authorization, including without limitation, any broker-dealers or agents authorized to sell the Contracts, with respect to the sale, marketing or distribution of the Contracts or Trust Shares, including, without limitation, any impermissible use of broker-only material, unsuitable or improper sales of the Contracts or unauthorized representations about the Contracts or the Trust; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) arise as a result of any material failure by the Company or persons under its control (or subject to its authorization) to provide services, furnish materials or make payments as required under this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) arise out of any material breach by the Company or persons under its control (or subject to its authorization) of this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) arise out of any material breach of any warranties contained in Article II or III hereof, any material failure to comply with the procedures set forth in Article II, or any unauthorized use of the names or trade names of the Trust or the Distributor, to the extent such losses result from such breach or failure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) arise out of any negligent act or omission by the Company, the Company's correspondents or their agents relating to Networking and Fund/SERV; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) arise out of the execution and settlement of redemption of non-certificated book shares or certificated shares of a Series of the Trust pursuant to instructions received from the Company, its agents, employees or representatives under the Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise out of the execution of any transactions with respect to Trust shares through Fund/SERV to the extent such execution is based on instructions or information supplied by or on behalf of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) arise out of the Trust's acceptance of any transaction or account maintenance information from the Company through Networking or Fund/SERV to the extent based on instructions or information supplied by or on behalf of the Company.

This indemnification is in addition to any liability that the Company may otherwise have; provided, however, that no party shall be entitled to indemnification if such loss, claim, damage, expense or liability is caused by the willful misfeasance, bad faith, gross negligence or reckless disregard of duty by the party seeking indemnification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2. Indemnification by the Trust.** The Trust hereby agrees to, and shall, indemnify and hold harmless the Company and each person who controls or is affiliated with the Company within the meaning of such terms under the 1933 Act or 1940 Act and any officer, director, employee or agent of the foregoing, against any and all losses, claims, damages or liabilities, joint or several (including any investigative, legal and other expenses reasonably incurred in connection

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with, and any amounts paid in settlement of, any action, suit or proceeding or any claim asserted), to which they or any of them may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, expenses or liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) arise out of or are based upon any untrue statement of any material fact or alleged untrue statement of material fact contained in the Trust Registration Statement, any Prospectus for Series or Classes or sales literature or other promotional material of the Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances in which they were made; provided that this obligation to indemnify shall not apply if such statement or omission was made in reliance upon and in conformity with information furnished in writing by the Company to the Trust or the Distributor for use in the Trust Registration Statement, Trust Prospectus or sales literature or promotional material for the Trust (or any amendment or supplement to any of the foregoing) or otherwise for use in connection with the sale of the Contracts or Trust Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) arise out of any untrue statement of a material fact or alleged untrue statement of material fact contained in a Contract Registration Statement, Contract Prospectus or sales literature or other promotional material for the Contracts (or any amendment or supplement to any of the foregoing), or the omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances in which they were made, if such statement or omission was made in strict conformity with and in reasonable reliance upon information furnished in writing by the Trust to the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) arise out of or are based upon wrongful conduct of the Trust or its Trustees or officers with respect to the sale of Trust Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) arise as a result of any material failure by the Trust to provide services, furnish materials or make payments as required under the terms of this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) arise out of any material breach by the Trust of this Agreement (including any breach of Section 6.1 of this Agreement and any warranties contained in Article II or III hereof); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) arise out of any negligent act or omission by the Trust or its agents relating to Networking and Fund/SERV, provided the Company has not acted negligently; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) arise out of the Trust's failure to comply with the procedures set forth in Article II; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) arise out of the Company's acceptance of any transaction or account maintenance information from the Trust through Networking or Fund/SERV to the extent such execution is based on instructions or information supplied by or on behalf of the Trust.

It being understood that in no way shall the Trust be liable to the Company with respect to any violation of insurance law, compliance with which is a responsibility of the Company under this Agreement or otherwise or as to which the Company failed to inform the Trust in accordance with Section 4.10 hereof. This indemnification is in addition to any liability that the Trust may otherwise have; provided, however, that no party shall be entitled to indemnification if such loss, claim, damage or liability is caused by the willful misfeasance, bad faith, gross negligence or reckless disregard of duty by the party seeking indemnification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.3. Indemnification by the Distributor.** The Distributor hereby agrees to, and shall, indemnify and hold harmless the Company and each person who controls or is affiliated with the Company within the meaning of such terms under the 1933 Act or 1940 Act and any officer, director, employee or agent of the foregoing, against any and all losses, claims, damages or liabilities, joint or several (including any investigative, legal and other expenses reasonably incurred in connection with, and any amounts paid in settlement of, any action, suit or proceeding or any claim asserted), to which they or any of them may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, expenses or liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) arise out of or are based upon any untrue statement of any material fact or alleged untrue statement of material fact contained in the Trust Registration Statement, any Prospectus for Series or Classes or sales literature or other promotional material of the Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances in which they were made; provided that this obligation to indemnify shall not apply if such statement or omission was made in reliance upon and in conformity with information furnished in writing by the Company to the Trust or Distributor for use in the Trust Registration Statement, Trust Prospectus or sales literature or promotional material for the Trust (or any amendment or supplement to any of the foregoing) or otherwise for use in connection with the sale of the Contracts or Trust Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) arise out of any untrue statement of a material fact or alleged untrue statement of material fact contained in a Contract Registration Statement, Contract Prospectus or sales literature or other promotional material for the Contracts (or any amendment or supplement to any of the foregoing), or the omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances in which they were made, if such statement or omission was made in strict conformity with and in reasonable reliance upon information furnished in writing by the Distributor to the Company; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) arise out of or are based upon wrongful conduct of the Distributor or persons under its control with respect to the sale of Trust Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) arise as a result of any material failure by the Distributor or persons under its control to provide services, furnish materials or make payments as required under the terms of this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) arise out of any material breach by the Distributor or persons under its control of this Agreement (including any breach of Section 6.1 of this Agreement and any warranties contained in Article III hereof);

it being understood that in no way shall the Distributor be liable to the Company with respect to any violation of insurance law, compliance with which is a responsibility of the Company under this Agreement or otherwise or as to which the Company failed to inform the Distributor in accordance with Section 4.10 hereof. This indemnification is in addition to any liability that the Distributor may otherwise have; provided, however, that no party shall be entitled to indemnification if such loss, claim, damage or liability is caused by the willful misfeasance, bad faith, gross negligence or reckless disregard of duty by the party seeking indemnification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.4. Economic Responsibility of the Trust.** It is the parties' intention that, in the event of an occurrence for which the Trust has agreed to indemnify the Company, the Company shall seek indemnification from the Trust only in circumstances in which the Trust is entitled to seek indemnification from a third party with respect to the same event or cause thereof. The Trust represents that it has, or will have, indemnification agreements in place with its investment adviser and other service providers that are designed to ensure that the Trust is able to satisfy its indemnification obligations under this Agreement, specifically with respect to losses arising from the acts or omissions of such adviser or service providers for which the Trust has indemnification obligations hereunder. The parties acknowledge and agree that the Trust's right to seek indemnification from any third party shall not limit, delay or condition the Company's right to seek and obtain indemnification directly from the Trust in accordance with this Agreement, and the Company shall not be required to pursue or exhaust any remedies against such third parties prior to seeking indemnification from the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.5. Indemnification Procedures.** After receipt by a party entitled to indemnification ("indemnified party") under this Article IX of notice of the commencement of any action, if a claim in respect thereof is to be made by the indemnified party against any person obligated to provide indemnification under this Article IX ("indemnifying party"), such indemnified party will notify the indemnifying party in writing of the commencement thereof as soon as practicable thereafter, provided that the omission to so notify the indemnifying party will not relieve it from any liability under this Article IX, except to the extent that the omission results in a failure of actual notice to the indemnifying party and such indemnifying party is damaged solely as a result of the failure to give such notice. The indemnifying party, upon the request of the indemnified party, shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the

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reasonable fees and disbursements of such counsel related to such proceeding. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (a) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel or (b) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment.

A successor by law of the parties to this Agreement shall be entitled to the benefits of the indemnification contained in this Article IX. The indemnification provisions contained in this Article IX shall survive any termination of this Agreement.

**ARTICLE X** 

**Relationship of the Parties; Termination** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1. Relationship of Parties.** The Company is to be an independent contractor vis-a-vis the Trust, the Distributor, or any of their affiliates for all purposes hereunder and has no authority to act for or represent any of them (except to the limited extent the Company acts as designee of the Trust pursuant to Section 2.3(a) of this Agreement). In addition, no officer or employee of the Company shall be deemed to be an employee or agent of the Trust, Distributor, or any of their affiliates. The Company does not act as an "underwriter" or "distributor" of Trust Shares, as those terms variously are used in the 1940 Act, the 1933 Act, and rules and regulations thereunder. Likewise, the Company is not a "transfer agent" of the Trust as that term is used in the 1934 Act and rules thereunder. Consistent with the foregoing, the Company is not a "transfer agent" or "administrator" to the Trust as those terms are referenced in Rule 38a-1 under the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2. Non-Exclusivity and Non-Interference.** The parties hereto acknowledge that the arrangement contemplated by this Agreement is not exclusive; the Trust Shares may be sold to other insurance companies and investors (subject to Section 2.8 hereof) and the cash value of the Contracts may be invested in other investment companies, provided, however, that until this Agreement is terminated pursuant to this Article X:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company shall promote the Trust and the Funds made available hereunder on the same basis as other funding vehicles available under the Contracts subject to Applicable Law;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company shall not, without prior notice to the Distributor (unless otherwise required by Applicable Law), take any action to operate Schedule 1 Account as a management investment company under the 1940 Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Company shall not, without the prior written consent of the Distributor (unless otherwise required by Applicable Law), solicit, induce or encourage Contract Owners to change or modify the Trust to change the Trust's distributor or investment adviser, to transfer or withdraw Contract Values allocated to a Fund, or to exchange their Contracts for contracts not allowing for investment in the Trust, except for disclosures or communications required by Applicable Law, regulatory authorities, or the terms of the Contracts.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Company shall not substitute another investment company for one or more Funds without providing: (i) written notice to the Distributor as soon as reasonably practicable in advance of such substitution; and (ii) copies of any application by the Company to the SEC seeking approval of such substitution, if such application is required under Applicable Law, as required by Section 4.13 of this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Company shall not redeem Trust Shares attributable to Contract Owner investments except as necessary to facilitate Contract Owner transactions, payment of expenses by Accounts, and routine Contract processing, or as permitted by Applicable Law or SEC Guidance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.3. Termination of Agreement.** Except as otherwise provided herein, this Agreement shall not terminate until: (a) the Trust is dissolved, liquidated, or merged into another entity, or (b) as to any Fund that has been made available hereunder, the Account no longer invests in that Fund and the Company has confirmed in writing to the Distributor, if so requested by the Distributor, that it no longer intends to invest in such Fund. However, certain obligations of, or restrictions on, the parties to this Agreement may terminate as provided in Sections 10.4 through 10.6 and the Company may be required to redeem Trust Shares pursuant to Section 10.7 or in the circumstances contemplated by Article VIII. Articles III and IX and Section 10.8 shall survive any termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.4. Termination of Offering of Trust Shares.** The obligation of the Trust and the Distributor to make Trust Shares available to the Company for purchase pursuant to Article II of this Agreement shall terminate at the option of the Distributor upon written notice to the Company as provided below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) upon institution of formal proceedings against the Company, or the Distributor's reasonable determination that institution of such proceedings is being considered by FINRA, the SEC, the insurance commission of any state or any other regulatory body regarding the Company's duties under this Agreement or related to the sale of the Contracts, the operation of the Account, the administration of the Contracts or the purchase of Trust Shares, or an expected or anticipated ruling, judgment or outcome

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which would, in the Distributor's reasonable judgment exercised in good faith, materially impair the Company's or Trust's ability to meet and perform the Company's or Trust's obligations and duties hereunder, such termination effective upon 30 days prior written notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the event any of the Contracts are not registered, issued or sold in accordance with applicable federal and/or state law, such termination effective immediately upon receipt of written notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if the Distributor shall determine, in its sole judgment exercised in good faith, that either (1) the Company shall have suffered a material adverse change in its business or financial condition or (2) the Company shall have been the subject of material adverse publicity which is likely to have a material adverse impact upon the business and operations of either the Trust or the Distributor, such termination effective upon 30 days prior written notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if the Distributor suspends or terminates the offering of Trust Shares of any Series or Class to all Participating Investors or only designated Participating Investors, if such action is required by law or by regulatory authorities having jurisdiction or if, in the sole discretion of the Distributor acting in good faith, suspension or termination is necessary in the best interests of the shareholders of any Series or Class (*i.e.*, Product Owners indirectly invested in any Series or Class), such notice effective immediately upon receipt of written notice, it being understood that a lack of Participating Investor interest in a Series or Class may be grounds for a suspension or termination as to such Series or Class and that a suspension or termination shall apply only to the specified Series or Class;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) upon the Company's assignment of this Agreement (including, without limitation, any transfer of the Contracts or the Account to another insurance company pursuant to an assumption reinsurance agreement) unless the Trust consents thereto, such termination effective upon 30 days prior written notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) if the Company is in material breach of any provision of this Agreement, which breach has not been cured to the satisfaction of the Trust within 10 days, or such longer period as may be reasonably necessary to cure such breach, after written notice of such breach has been delivered to the Company, such termination effective upon expiration of such period; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) upon the determination of the Trust's Board to dissolve, liquidate or merge the Trust as contemplated by Section 10.3(a), upon termination of the Agreement pursuant to Section 10.3(b), or upon notice from the Company pursuant to Section 10.5 or 10.6, such termination pursuant hereto to be effective upon 15 days prior written notice.

Except in the case of an option exercised under clause (b), (d) or (g), the obligations shall terminate only as to Contracts issued after the exercise of the option and the Distributor shall continue to

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make Trust Shares available to the extent necessary to permit owners of Contracts in effect on the effective date of such termination (hereinafter referred to as "Existing Contracts") to reallocate investments in the Trust, redeem investments in the Trust and/or invest in the Trust upon the making of additional purchase payments under the Existing Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.5. Termination of Investment in a Fund.** The Company may elect to cease investing in a Fund, promoting a Fund as an investment option under the Contracts, or withdraw its investment or the Account's investment in a Fund, subject to compliance with Applicable Law, upon written notice to the Trust within 15 days of the occurrence of any of the following events (unless provided otherwise below):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Trust informs the Company pursuant to Section 4.10 that it will not cause such Fund to comply with investment restrictions as requested by the Company and the Trust and the Company are unable to agree upon any reasonable alternative accommodations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) shares in such Fund are not reasonably available to meet the requirements of the Contracts as determined by the Company (including any non-availability as a result of notice given by the Distributor pursuant to Section 10.4(d)), and the Distributor, after receiving written notice from the Company of such non-availability, fails to make available, within 10 days after receipt of such notice, a sufficient number of shares in such Fund or an alternate Fund to meet the requirements of the Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) such Fund fails to meet the diversification requirements specified in Section 817(h) of the Code and any regulations thereunder and the Trust, upon written request, fails to provide reasonable assurance that it will take action to cure or correct such failure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) such Fund fails to qualify as a regulated investment company under Sub-Section 851 of the Code, or any successor provision, or if the Company reasonably believes that the Fund may fail to so qualify and the Trust, upon written request, fails to provide reasonable assurance that it will correct the failure within 30 days; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Company reasonably determines, based on advice of counsel, that continued investment in such Fund could cause the Company, any Account or any Contract to be treated as providing Contract Owners with impermissible "investor control" over the underlying assets of the Fund within the meaning of applicable provisions of the Code, Treasury Regulations, or published rulings or guidance thereunder, and the Trust, upon written request, fails to provide reasonable assurance that it or its investment adviser will take action to eliminate or mitigate such risk within a reasonable period of time.

Such termination shall apply only as to the affected Fund and shall not apply to any other Fund in which the Company or the Account invests.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.6. Termination of Investment in the Trust.** The Company may elect to cease investing in all Series or Classes of the Trust made available hereunder, promoting the Trust as an investment option under the Contracts, or withdraw its investment or the Accounts' investment in the Trust, subject to compliance with applicable law, upon written notice to the Trust within 15 days of the occurrence of any of the following events (unless provided otherwise below):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) upon institution of formal proceedings against the Trust or the Distributor (but only with regard to the Trust) by FINRA, the SEC or any state securities or insurance commission or any other regulatory body or upon the Company's reasonable determination, exercised in good faith, that the institution of such proceedings is being considered or that an expected or anticipated ruling, judgment or outcome could materially impair the Company's ability to meet its obligations under the Contracts or to administer the Accounts in compliance with applicable law; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the Trust or Distributor is in material breach of a provision of this Agreement, which breach has not been cured to the satisfaction of the Company within 10 days after written notice of such breach has been delivered to the Trust or the Distributor, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.7. Company Required to Redeem.** The parties understand and acknowledge that it is essential for compliance with Section 817(h) of the Code that the Contracts qualify as annuity contracts or life insurance policies, as applicable, under the Code. Accordingly, if any of the Contracts cease to qualify as annuity contracts or life insurance policies, as applicable, under the Code, or if the Trust reasonably believes that any such Contracts may fail to so qualify, the Trust shall have the right to require the Company to redeem Trust Shares attributable to such Contracts upon notice to the Company and the Company shall so redeem such Trust Shares or take such other action as may be reasonably necessary to address such failure or risk of failure, in each case to the extent required to preserve compliance with applicable provisions of the Code, including Section 817(h). Notice to the Company shall specify a reasonable period of time for the Company to redeem the Trust Shares or to make other arrangements satisfactory to the Trust and its counsel, such period of time to be determined with reference to the requirements of Section 817(h) of the Code. In addition, the Company may be required to redeem Trust Shares pursuant to action taken or request made by the Trust Board in accordance with the Exemptive Order described in Article VIII or any conditions or undertakings set forth or referenced therein, or other SEC rule, regulation or order that may be adopted after the date hereof. The Company agrees to redeem shares in the circumstances described herein and to comply with applicable terms and provisions. Also, in the event that the Distributor suspends or terminates the offering of a Series or Class pursuant to Section 10.4(d) of this Agreement, the Company, upon request by the Distributor, will cooperate in taking appropriate action to withdraw the Account's investment in the respective Fund. Notwithstanding the foregoing, any redemption of Trust Shares by the Company pursuant to this Section 10.7 shall be effected in a manner consistent with the terms of the applicable Contracts and in compliance with applicable federal securities laws, state insurance laws, and any required regulatory approvals.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.8. Confidentiality.** All "Confidential Information" (as defined in this section) supplied by one party to the another party in connection with the negotiation or carrying out of this Agreement shall remain the property of the party providing such information and shall be kept confidential by the receiving party or parties except: (a) as may be required by Applicable Law, (b) as authorized in writing by the party providing the information, or (c) in the event that such information is otherwise made public. Each party agrees to take all reasonable precautions to prevent any unauthorized disclosure of Confidential Information. Confidential Information means (individually or collectively) proprietary information of the parties to this Agreement, including but not limited to, their inventions, "know-how", trade secrets, business affairs, prospect lists, product designs, product plans, business strategies, finances, fee structures, etc. Without limiting the generality of the foregoing, Confidential Information includes: (a) information that the disclosing party designates in writing is confidential or proprietary, (b) any non-public personal information or personally identifiable financial information about any Contract Owner or prospective Contract Owner, and (c) information that a reasonable business-person would assume to be confidential or proprietary. Notwithstanding the foregoing, Confidential Information does not include information provided by the Company to the Distributor pursuant to section 2.9 of this Agreement.

**ARTICLE XI** 

**Applicability to New Accounts and New Contracts** 

The parties to this Agreement may amend the schedules to this Agreement from time to time to reflect, as appropriate, changes in or relating to the Contracts, any Series or Class, additions of new classes of Contracts to be issued by the Company and Accounts therefor investing in the Trust. Such amendments may be made effective by executing the form of amendment included on each schedule attached hereto. The provisions of this Agreement shall be equally applicable to each such class of Contracts, Series, Class or Account, as applicable, effective as of the date of amendment of such Schedule, unless the context otherwise requires. The parties to this Agreement may amend this Agreement from time to time by written agreement signed by all of the parties.

**ARTICLE XII** 

**Notice, Request or Consent** 

Any notice, request or consent to be provided pursuant to this Agreement is to be made in writing and shall be given:

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If to the Trust:

Caroline Kraus

Secretary

Goldman Sachs Variable Insurance Trust

200 West Street

New York, NY 10282

If to the Distributor:

James McNamara

Goldman Sachs & Co.

200 West Street

New York, NY 10282

If to the Company:

New York Life Insurance and Annuity Corporation

Office of General Counsel – 10SB

51 Madison Avenue

&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;New York, NY 10010

Attention Variable Products Attorney

or at such other address as such party may from time to time specify in writing to the other party. Each such notice, request or consent to a party shall be sent by registered or certified United States mail with return receipt requested or by overnight delivery with a nationally recognized courier, and shall be effective upon receipt. Notices pursuant to the provisions of Article II may be sent by facsimile to the person designated in writing for such notices.

**ARTICLE XIII** 

**Miscellaneous** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.1. Interpretation.** This Agreement shall be construed and the provisions hereof interpreted under and in accordance with the laws of the state of Delaware, without giving effect to the principles of conflicts of laws, subject to the following rules:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement shall be subject to Applicable Law and the terms hereof shall be limited, interpreted and construed in accordance therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The captions in this Agreement are included for convenience of reference only and in no way define or delineate any of the provisions hereof or otherwise affect their construction or effect.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If any provision of this Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of the Agreement shall not be affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The rights, remedies and obligations contained in this Agreement are cumulative and are in addition to any and all rights, remedies and obligations, at law or in equity, which the parties hereto are entitled to under state and federal laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.2. Counterparts.** This Agreement may be executed simultaneously in two or more counterparts, each of which together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.3. No Assignment.** Neither this Agreement nor any of the rights and obligations hereunder may be assigned by the Company, the Distributor or the Trust without the prior written consent of the other parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.4. Declaration of Trust.** A copy of the Declaration of Trust of the Trust is on file with the Secretary of State of the state of Delaware, and notice is hereby given that this instrument is executed on behalf of the Trustees of the Trust as trustees, and is not binding upon any of the Trustees, officers or shareholders of the Trust individually, but binding only upon the assets and property of the Trust. No Series of the Trust shall be liable for the obligations of any other Series of the Trust.

------

IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed in its name and behalf by its duly authorized officer on the date specified below.

---

| | | |
|:---|:---|:---|
|  | GOLDMAN SACHS VARIABLE INSURANCE TRUST | GOLDMAN SACHS VARIABLE INSURANCE TRUST |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Trust) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Trust) |
| Date: | By: |  |
|  |  | &nbsp;&nbsp;&nbsp; Name: |
|  |  | &nbsp;&nbsp;&nbsp; Title: |
|  | GOLDMAN SACHS & CO. LLC | GOLDMAN SACHS & CO. LLC |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Distributor) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Distributor) |
| Date: | By: |  |
|  |  | &nbsp;&nbsp;&nbsp; Name: |
|  |  | &nbsp;&nbsp;&nbsp; Title: |
|  | NEW YORK LIFE INSURANCE AND ANNUITY | NEW YORK LIFE INSURANCE AND ANNUITY |
| CORPORATION |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Company) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Company) |
| Date: | By: |  |
|  |  | &nbsp;&nbsp;&nbsp; Name: |
|  |  | &nbsp;&nbsp;&nbsp; Title: |

---

------

**SCHEDULE 1** 

**<u>Schedule 1A</u>**

**Separate Accounts of the Company Registered Under the 1940 Act as Unit Investment** 

**Trusts** 

The following separate accounts of the Company are subject to the Agreement:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Account | Date Established by<br> Board of Directors of the Company | SEC 1940 Act<br> Registration Number | Type of Product<br> Supported by Account |
|  |  | 811- | Variable Annuity |
|  |  | 811- | Variable Annuity |
|  |  | 811- | Variable Annuity |
|  |  | 811- | Variable Life Insurance |

---

**<u>Schedule 1B</u>**

**All Variable Annuity Contracts and Variable Life Insurance Contracts Registered Under** 

**the Securities Act of 1933 and issued under the Separate Accounts on Schedule 1A** 

**Available Funds** 

<u>Goldman Sachs VIT International Equity Insights – Institutional Shares; Service Shares</u> 

------

**[Form of Amendment to Schedule 1A]** 

Effective as of _______, the following separate accounts of the Company are hereby added to this Schedule 1A and made subject to the Agreement:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Account | Date Established by<br> Board of Directors of the Company | SEC 1940 Act<br> Registration Number | Type of Product<br> Supported by Account |

---

IN WITNESS WHEREOF, the Trust, the Distributor and the Company hereby amend this Schedule 1A in accordance with Article XI of the Agreement.

---

| | |
|:---|:---|
| <u> </u><br> Goldman Sachs Variable Insurance Trust<br> Name:<br> Title: | &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;&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;&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ______________ Life Insurance Company<br> Name:<br> Title: |
| <u> </u><br> Goldman Sachs & Co. LLC<br> Name:<br> Title: |  |

---

------

**[Form of Amendment to Schedule 1B]** 

Effective as of _______, the following Contracts are hereby added to this Schedule 1B and made subject to the Agreement:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Contract | Available Funds/Share<br> Classes | 1933 Act<br> Registration Number | Type of Product<br> Supported by Account |

---

IN WITNESS WHEREOF, the Trust, the Distributor and the Company hereby amend this Schedule 1B in accordance with Article XI of the Agreement.

---

| | |
|:---|:---|
| <u> </u><br> Goldman Sachs Variable Insurance Trust<br> Name:<br> Title: | &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;&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;&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ______________ Life Insurance Company<br> Name:<br> Title: |
| <u> </u><br> Goldman Sachs & Co. LLC<br> Name:<br> Title: |  |

---

------

**SCHEDULE 2** 

**<u>Schedule 2A</u>**

**Separate Accounts of the Company Excluded From the Definition of an Investment** 

**Company as Provided for by Section 3(c)(11) of the 1940 Act** 

The following separate accounts of the Company are subject to the Agreement:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Account | Date Established by<br> Board of Directors of the Company | Type of Product<br> Supported by Account |
|  | | Variable Annuity |
|  | | Variable Annuity |
|  | | Variable Annuity |
|  | | Variable Life Insurance |

---

**<u>Schedule 2B</u>**

**All Variable Annuity Contracts and Variable Life Insurance Contracts Not Registered** 

**Under the Securities Act of 1933 in Reliance Upon Section 3(a)(2) of the Act issued by the** 

**Separate Accounts listed on Schedule 2A** 

**Available Funds** 

<u>Goldman Sachs VIT International Equity Insights – Institutional Shares</u> 

------

**[Form of Amendment to Schedule 2A]** 

Effective as of _______, the following separate accounts of the Company are hereby added to this Schedule 2A and made subject to the Agreement:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Account | Date Established by<br> Board of Directors of the Company | Type of Product<br> Supported by Account |

---

IN WITNESS WHEREOF, the Trust, the Distributor and the Company hereby amend this Schedule 2A in accordance with Article XI of the Agreement.

---

| | |
|:---|:---|
| <u> </u><br> Goldman Sachs Variable Insurance Trust<br> Name:<br> Title: | &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;&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;&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ______________ Life Insurance Company<br> Name:<br> Title: |
| <u> </u><br> Goldman Sachs & Co. LLC<br> Name:<br> Title: |  |

---

------

**[Form of Amendment to Schedule 2B]** 

Effective as of _______, the following Contracts are hereby added to this Schedule 2B and made subject to the Agreement:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Contract | Available Funds/Share Classes | Group or Individual | Type of Product<br> Supported by Account |

---

IN WITNESS WHEREOF, the Trust, the Distributor and the Company hereby amend this Schedule 2B in accordance with Article XI of the Agreement.

---

| | |
|:---|:---|
| <u> </u><br> Goldman Sachs Variable Insurance Trust<br> Name:<br> Title: | &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;&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;&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ______________ Life Insurance Company<br> Name:<br> Title: |
| <u> </u><br> Goldman Sachs & Co. LLC<br> Name:<br> Title: |  |

---

------

**SCHEDULE 3** 

**<u>Schedule 3A</u>**

**Separate Accounts of the Company Excluded From the Definition of an Investment** 

**Company as Provided for by Section 3(c)(1) or 3(c)(7) of the 1940 Act** 

The following separate accounts of the Company are subject to the Agreement:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Account | Date Established by<br> Board of Directors of the Company | Type of Product<br> Supported by Account |
|  | | Variable Annuity |
|  | | Variable Annuity |
|  | | Variable Annuity |
|  | | Variable Life Insurance |

---

**<u>Schedule 3B</u>**

**All Variable Annuity Contracts and Variable Life Insurance Contracts Not Registered** 

**Under the Securities Act of 1933 in Reliance Upon Section 4(2) of the Act and Regulation D** 

**Thereunder issued by the Separate Accounts listed on Schedule 3A** 

**Available Funds** 

<u>Goldman Sachs VIT International Equity Insights – Institutional Shares</u> 

------

**[Form of Amendment to Schedule 3A]** 

Effective as of _______, the following separate accounts of the Company are hereby added to this Schedule 3A and made subject to the Agreement:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Account | Date Established by<br> Board of Directors of the Company | Type of Product<br> Supported by Account |

---

IN WITNESS WHEREOF, the Trust, the Distributor and the Company hereby amend this Schedule 3A in accordance with Article XI of the Agreement.

---

| | |
|:---|:---|
| <u> </u><br> Goldman Sachs Variable Insurance Trust<br> Name:<br> Title: | &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;&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;&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ______________ Life Insurance Company<br> Name:<br> Title: |
| <u> </u><br> Goldman Sachs & Co. LLC<br> Name:<br> Title: |  |

---

------

**[Form of Amendment to Schedule 3B]** 

Effective as of _______, the following Contracts are hereby added to this Schedule 3B and made subject to the Agreement:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Contract | Available Funds/Share Classes | Group or Individual | Type of Product<br> Supported by Account |

---

IN WITNESS WHEREOF, the Trust, the Distributor and the Company hereby amend this Schedule 3B in accordance with Article XI of the Agreement.

---

| | |
|:---|:---|
| <u> </u><br> Goldman Sachs Variable Insurance Trust<br> Name:<br> Title: | &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;&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;&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ______________ Life Insurance Company<br> Name:<br> Title: |
| <u> </u><br> Goldman Sachs & Co. LLC<br> Name:<br> Title: |  |

---

## Ex-99.(I)(24)

**<u>Services Agreement</u>** 

Franklin Distributors, LLC

New York Life Insurance and Annuity Corporation

**THIS AGREEMENT**, is by and between Franklin Distributors, LLC ("Franklin"), and New York Life Insurance and Annuity Corporation (the "Company"), concerning certain services with respect to each series ("Fund" or "Funds") of Franklin Templeton Variable Insurance Products Trust (the "Trust"), which Funds are specified in the Participation Agreement, as may be amended from time to time, among the Company, the Trust, and Franklin Distributors, LLC (the "Underwriter"), among others, dated May 1, 2026 (the "Participation Agreement").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Services.</u>

&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;(a) <u>Administrative services</u>. Services for the Company's Separate Accounts (the "Account" or "Accounts") which invest in the Funds pursuant to the Participation Agreement, and services for purchasers of variable life and annuity contracts (the "Contracts") issued by the Company through the Accounts, are and shall be the responsibility of the Company. Services with respect to the Funds in which the Accounts invest, and for purchasers of shares of the Funds, are and shall be the responsibility of Franklin or its affiliates. The Company has agreed to assist Franklin or its affiliates, as Franklin may request from time to time, with the provision of services ("Administrative Services") to the Funds, on a sub-administration basis, as they may relate to the investment in the Funds by the Accounts. It is anticipated that the Administrative Services may include, but may not be limited to, the services listed on Schedule A.

&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;(b) <u>Marketing Support Services</u>. As part of efforts to promote sales of shares of the Funds, the Company may provide certain services to Franklin as mutually agreed to between Company and Franklin. These services may include (but are not limited to) any or all of the following: business planning assistance; advertising; education of Company's personnel about the Funds and the financial planning needs of Company's clients; use of Funds as underlying investment options of the Company's products (to the extent that the Funds satisfy Company's standards for such use); timely review and consideration of approval of new Funds as underlying investment options; and access by Franklin's and its affiliates' personnel to Company's personnel and representatives.

The Company agrees that it and its affiliates will not accept compensation for promoting or selling Fund shares in the form of commissions for brokerage transactions directed to it from a Fund portfolio transaction. In addition, the Company agrees that it or its affiliates will provide such point-of-sale disclosure as legally required regarding such services and related payments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Payments for Services.</u> Franklin recognizes the Company, on behalf of the Accounts, as the shareholder of shares of the Funds purchased under the Participation Agreement on behalf of the Accounts. Franklin further recognizes that it will derive a substantial administrative convenience by virtue of having the Company be the shareholder of

------

record of shares of the Funds purchased under the Participation Agreement, rather than multiple shareholders having record ownership of such shares. Franklin recognizes that the Company will provide services necessary to facilitate investment in the Funds and may provide services which may be considered to be marketing support services or that otherwise may result in the sale of Fund shares.

In consideration of the services provided by the Company hereunder and the administrative convenience resulting to the Franklin described above and the potential provisions of marketing support services, Franklin agrees to pay the Company a fee as set forth in Schedule B.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Computation of Payments for Services.</u> As soon as practicable after the end of each quarter, Franklin will determine the net assets for the preceding quarter, of shares of the Fund as to which the fee stated in Schedule B is to be calculated. Franklin will calculate and pay the Company its fee within thirty (30) days after the end of the three-month periods ending in January, April, July and October as well as provide a statement to Company setting forth the calculation within (30) days of the following month after the end of the three-month period. Such payment will be by wire transfer unless the amount thereof is less than $500. Wire transfers will be sent to the bank account and in the manner specified by the Company. Such wire transfer will be separate from wire transfers of redemption proceeds and distributions. Amounts less than $500 shall be paid by check or by another method acceptable to both parties.

For purposes of this Paragraph 3, the average daily net asset value of the shares of a Fund will be based on the net assets reported by the Trust on behalf of each Fund to the Company. No adjustments will be made to such net assets to correct errors in the net asset value so reported for any day unless such error is corrected and the corrected net asset value per share is reported to the Company before 5:00 p.m. Eastern time on the first Business Day after the day to which the error relates. "Business Day" will mean any day on which the New York Stock Exchange is open for trading and on which the Fund calculates its net asset value pursuant to the rules of the Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Confidentiality of Payment Rate.</u> The Company acknowledges that the rate and amount of payments to be made to the Company under this Agreement are proprietary and confidential information of Franklin and its affiliates, and that disclosure of this information to third parties may cause damage to Franklin or its affiliates. The Company agrees to take any and all reasonable actions to limit disclosure of this information to only those of its employees, officers, consultants and agents who need the information in order to perform their duties, and to notify such persons of the terms of this paragraph. In the event any other party seeks to compel disclosure of confidential information through judicial or administrative process, then the Company shall promptly give Franklin written notice of such demand and, if requested by Franklin, shall cooperate in Franklin's efforts to challenge or limit any such disclosure. Violation of the confidentiality provision shall be grounds for immediate termination of the Agreement by Franklin in its sole discretion. Nothing in this Agreement shall prevent the Company from disclosing the existence of this Agreement in the Contracts' prospectuses or elsewhere. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Notice.</u> Any notice shall be sufficiently given when sent by registered or certified mail to the other party at the address of such party set forth in Schedule C of this

------

Agreement or at such other address as such party may from time to time specify in writing to the other party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Termination.</u> This Agreement may be terminated upon thirty (30) days' written notice from one party to the other party. Notwithstanding termination of this Agreement, Franklin will continue to pay the fee as set forth in Schedule B so long as nets assets of the Accounts remain in a Fund portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Representation</u>. The parties represent and agree that they will maintain and preserve all records as required by law to be maintained and preserved in connection with this Agreement, and will otherwise comply with all laws, rules and regulations applicable to the Services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Assignment.</u> This Agreement shall not be assigned by either party without the prior written consent of the other party, which consent shall not be unreasonably withheld or delayed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Counterparts.</u> This Agreement may be executed in counterparts, each of which will be deemed an original but all of which will together constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Entire Agreement; Electronic Signatures.</u> This Agreement, together with the attached Schedules, contains the entire agreement among the parties with respect to the matters dealt with herein, and supersedes any prior or inconsistent agreements, documents, understandings or arrangements among the parties with respect to the subject matter of this Agreement. This Agreement may be executed and delivered by electronic signatures and any such signatures appearing on this Agreement are the same as handwritten signatures for the purposes of validity, enforceability and admissibility.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Indemnification</u>. This Agreement will be subject to the indemnification provisions of the Participation Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Trust Not a Party</u>. The parties to this Agreement acknowledge and agree that the Trust is not directly or indirectly a party to this Agreement. If, however, the Trust shall be so deemed, the parties to this Agreement acknowledge and agree that any liabilities of the Trust arising, directly or indirectly, under this Agreement will be satisfied out of the assets of the Trust and that no trustee, officer, agent or holder of shares of beneficial interest of the Trust or any Fund will be personally liable for such liabilities. No Fund of the Trust will be liable for the obligations or liabilities of any other Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Applicable Law.</u> This Agreement shall be interpreted, construed and enforced in accordance with the laws of the State of New York

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Severability</u>. This Agreement shall be severable as it applies to each Fund portfolio, and action on any matter shall be taken separately for each Fund portfolio affected by the matter. If any portion of this Agreement shall be found to be invalid or unenforceable by a court or tribunal or regulatory agency of competent jurisdiction, the remainder shall not be affected thereby, but shall have the same force and effect as if the invalid or unenforceable portion had not been inserted.

------

This Agreement is executed as of this<u> </u> day of 2026.

---

| | |
|:---|:---|
| FRANKLIN DISTRIBUTORS, LLC | FRANKLIN DISTRIBUTORS, LLC |
| By: <u>/s/ Robert Smith</u> | By: <u>/s/ Robert Smith</u> |
| Name: | Robert Smith |
| Title: | Head of Business Administration |

---

---

| |
|:---|
| NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION |
| By: <u>/s/ Janis Rubin</u> |
| Name: Janis Rubin |
| Title: Vice President |

---

------

**Schedule A** 

**<u>Services</u>** 

**<u>Maintenance of Books and Records</u>**

• Assist as necessary to maintain book entry records on behalf of the Funds regarding issuance to, transfer
within (via net purchase orders) and redemption by the Accounts of Fund shares.

• Maintain general ledgers regarding the Accounts' holdings of Fund shares, coordinate and reconcile
information, and coordinate maintenance of ledgers by financial institutions and other contract owner service providers.

**<u>Communication with the Funds</u>**

• Serve as the designee of the Funds for receipt of purchase and redemption orders from the Account and to
transmit such orders, and payment therefore, to the Funds.

• Coordinate with the Funds' agents respecting daily valuation of the Funds' shares and the
Accounts' units.

• Purchase Orders

Determine net amount available for investment in the Funds. <br>

- Deposit receipts at the Funds' custodians (generally by wire transfer).

Notify the custodians of the estimated amount required to pay dividends or distributions. <br>

• Redemption Orders

Determine net amount required for redemptions by the Funds. <br>

- Notify the custodian and Funds of cash required to meet payments.

• Purchase and redeem shares of the Funds on behalf of the Accounts at the then-current price in accordance with
the terms of each Fund's then current prospectus.

• Assistance in enforcing procedures adopted on behalf of the Trust to reduce, discourage, or eliminate market
timing transactions in a Fund's shares in order to reduce or eliminate adverse effects on a Fund or its shareholders.

**<u>Processing Distributions from the Funds</u>**

• Process ordinary dividends and capital gains.

• Reinvest the Funds' distributions.

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**<u>Reports</u>**

• Periodic information reporting to the Funds, including, but not limited to, furnishing registration
statements, prospectuses or private offering memorandum, statements of additional information, reports, solicitations for instructions, disclosure statements, sales or promotional materials and any other filings with the Securities and Exchange
Commission with respect to the Accounts invested in the Funds, if necessary.

• Periodic information reporting about the Funds to contract owners, including necessary delivery of the
Funds' prospectus and annual and semi-annual reports.

**<u>Fund-related Contract Owner Services</u>**

• Maintain adequate fidelity bond or similar coverage for all Company officers, employees, investment advisors
and other individuals or entities controlled by the Company who deal with the money and/or securities of the Funds.

• Provide general information with respect to Fund inquiries (not including information about performance or
related to sales).

• Provide information regarding performance of the Funds.

• Oversee and assist the solicitation, counting and voting of contract owner pass-through voting interests in
the Funds pursuant to Fund proxy statements.

**<u>Other Support</u>**

• Provide other administrative support for the Funds as mutually agreed upon by the Company and the Funds or
Franklin.

• Relieve the Funds of other usual or incidental administrative services provided to individual contract owners.

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**Schedule B** 

**<u>Payments for Services</u>** 

Franklin agrees to pay the Company a fee, computed daily and paid quarterly in arrears, equal to an annual rate as set forth below, applied to the average daily net assets of the shares of the Funds held in the subaccounts of the Accounts. The payment will be computed and paid in the manner described more completely in the Agreement.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**#** | **Company Name** | **Separate Account/**<br>**Registration Yes/No** | **Class/Funds of the Trust** | **Fee**<br> **Rate** | **Date of<br>beginning of<br>period for<br>computation<br>of fee** |
| &nbsp;&nbsp;&nbsp;1. | New York Life Insurance and Annuity<br>Corporation |  | Franklin Gold & Precious<br>Metals VIP Fund | [ ]% | May 1, 2026 |

---

------

**Schedule C** 

**Addresses for Notices** 

---

| |
|:---|
| If to the Company: |
| If to Franklin:<br> Franklin Distributors, LLC<br> 100 First Stamford Place, 5<sup>th</sup> Floor<br> Stamford, CT 06902<br> Attention: Intermediary Client Onboarding<br> Email: us_ico@franklintempleton.com |
| With a copy to:<br> Franklin Templeton<br> One Franklin Parkway, Bldg. 920, 2<sup>nd</sup> Floor<br> San Mateo, California 94403<br> Attention: Office of General Counsel |

---

## Ex-99.(I)(25)

Goldman Sachs Asset Management, L.P.

200 West Street

New York, NY 10282

[DATE]

New York Life Insurance and Annuity Corporation

51 Madison Ave.

New York, NY 10010

Ladies and Gentlemen:

This letter sets forth the agreement (the "Agreement") between New York Life Insurance and Annuity Corporation ("you" or the "Company") and the undersigned ("we" or "Goldman Sachs Asset Management, L.P.", or "GSAM") concerning certain administrative services to be provided by you, with respect to the Goldman Sachs Variable Insurance Trust (the "Trust").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>The Trust</u>. The Trust is a Delaware statutory trust registered with the Securities and Exchange Commission (the "SEC") under the Investment Company Act of 1940, as amended (the "Act"), as an open-end management investment company. The Trust offers shares of one or more separate series, each representing an interest in a particular investment portfolio of securities and other assets ("Portfolios"), and serves as a funding vehicle for variable annuity contracts and variable life insurance contracts. As such, the Trust sells its shares to insurance companies and their separate accounts. With respect to various provisions of the Act, the SEC requires that owners of variable annuity contracts and variable life insurance contracts offering underlying mutual funds as investment options for their separate accounts be provided with certain materials and rights similar to those afforded to mutual fund shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>The Company</u>. The Company is a Delaware life insurance company. The Company issues variable annuity contracts and/or variable life insurance contracts (the "Contracts") supported by the Separate Account(s) identified on Schedule A (the "Separate Account"; if more than one, the term "Separate Account" shall apply to each Separate Account subject hereto). The Separate Account is registered with the SEC as a unit investment trust. The Company has entered into a participation agreement (the "Participation Agreement") with the Trust and Goldman Sachs & Co. LLC as the Trust's Distributor ("Distributor") with respect to the Portfolios listed on Schedule B (the "Funds"). The Participation Agreement governs the Company's purchases and redemptions of shares of the Trust for the Separate Account supporting the Company's Contracts, and related matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Goldman Sachs</u> <u>& Co. LLC.</u> Goldman Sachs & Co. LLC serves as the distributor for the Trust. GSAM serves as the Trust's investment adviser. GSAM supervises and assists in the overall management of the Trust's affairs under an Investment Management Agreement with the Trust, subject to the overall authority of the Trust's Board of Trustees in accordance with

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Delaware law. Under the Investment Management Agreement, we are compensated for providing investment advisory and certain administrative services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Administrative Services</u>. You have agreed to assist us, as we may request from time to time, with the provision of administrative services with respect to the Trust, as they may relate to the Separate Account's purchase and redemption of shares of the Funds. It is anticipated that such services may include (but shall not be limited to) the mailing of Trust reports, notices, proxies and proxy statements and other informational materials to owners of the Contracts supported by the Separate Account; the transmission of purchase and redemption requests to the Trust's transfer agent; the maintenance of separate records for each owner of a Contract reflecting shares purchased and redeemed and share balances attributable to such Contract Owner in the form of units; the preparation of various reports for submission to the Trust's Trustees; the provision of shareholder support services with respect to the Funds serving as funding vehicles for the Company's Contracts; and the services listed on Schedule C.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Payment for Administrative Services</u>. In consideration of the services to be provided by you, we shall pay you on a quarterly basis, from our assets, including GSAM's bona fide profits as investment adviser to the Trust, amounts equal to those described in Schedule D. For purposes of computing the payment to the Company contemplated under this Section 5 for each Fund, the average aggregate net asset value of the relevant shares of the Fund held by the Separate Account over a one-month period shall be computed by totaling the Separate Account's aggregate investment (share net asset value multiplied by total number of the relevant shares held by the Separate Account) in each Fund on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment contemplated by this Section 5 shall be calculated by GSAM at the end of each calendar quarter and will be paid to the Company within sixty (60) business days thereafter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Nature of Payments</u>. The parties to this Agreement recognize and agree that GSAM's payments to the Company relate to administrative services only and do not constitute payment in any manner for investment advisory services or for costs of distribution of the Contracts or of Trust shares and are not otherwise related to investment advisory or distribution services or expenses. The Company represents that these payments are not for or related to administrative services which the Company is required to provide to owners of the Contracts by law or pursuant to the terms of the Contracts. The Parties acknowledge that there are substantial savings in administrative expenses to the Trust by virtue of having a Separate Account as the sole shareholder in a Fund rather than multiple accounts reflecting the Separate Account's investment. You represent that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● you may legally receive the payments contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the administrative services provided under this Agreement are not services that the Trust has agreed to
perform, provide or pay for under the Participation Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● to the extent required by applicable law, you have taken payments received from GSAM under this Agreement into
account in making any determinations pursuant to Section 26(f)(2)(A) and 26(f)(3) of the Act.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Term</u>. Except as otherwise provided herein, this Agreement shall remain in full force and effect for an initial term of one year from the date hereof, and shall automatically renew for successive one-year periods unless either party notifies the other upon sixty (60) days' written notice of its intent not to continue this Agreement. This Agreement shall terminate automatically with respect to a Fund upon (i) the redemption of the Separate Account's investment in the Fund, or (ii) upon termination of the Trust's obligation to sell shares of a Fund under the Participation Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Anti-Bribery.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company warrants that in any way related to this Agreement, it and its affiliates, agents, and employees will at all times comply with all applicable laws, regulations, including self-regulatory organization ("SRO") regulations, and administrative requirements, including those pertaining to tax reporting and tax compliance, tax evasion or the facilitation of tax evasion, and those dealing with bribery, corruption, improper or illegal payments, gifts, gratuities or money laundering, and shall take no action which would subject Goldman Sachs to penalties under applicable laws, regulations and administrative requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company represents that, in connection with this Agreement, it has not and warrants that it will not (i) make (or cause to be made), offer, promise, or authorize any payments or gifts or anything of value, directly or indirectly, to any Public Official (as defined below) or to any other person to secure an improper advantage, improperly obtain or retain business or an improper advantage in the conduct of business, or otherwise to induce any person to perform their duties improperly, or (ii) pay, offer, or agree to pay (or cause to be paid, offered or agreed to be paid) any political contributions or donations. In performing this Agreement, the Company agrees to not knowingly authorize, make, permit to be made, or allow any agents, subcontractors, vendors, consultants, or other third parties ("Third Parties") to make any payments, which, if made by the Company, would violate this Agreement. As used in this Agreement, "Public Official" means any person holding an elected or appointed office and any other officer or employee of a government or a department, agency, instrumentality or part thereof (including a state-owned or -controlled enterprise or a joint venture/partnership with a government entity), any officer or employee of a public international organization or a political party, and any candidate for political office; or any person exercising a public function or acting in an official capacity for or on behalf of any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company represents that, in connection with this Agreement, it has not and warrants that it will not receive or solicit bribes, kickbacks, or other improper benefits related to its services to Goldman Sachs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company hereby acknowledges that it has received and reviewed a copy of the Goldman Sachs Anti-Bribery and Anti-Corruption Compliance Statement (available at https://www.goldmansachs.com/investor-relations/corporate-governance/corporate-governance-documents/anti-bribery-program.pdf , which may be amended from time to time), setting forth Goldman Sachs' anti-corruption policy with respect to its business activities and relations with clients and prospective clients, and warrants and agrees that in connection with this Agreement, the Company will act on a consistent basis with such Statement and in no event shall

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take any action that would cause or reasonably be expected to cause Goldman Sachs to be in violation of such Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) To the extent the Company retains Third Parties to perform material administrative services directly on behalf of Goldman Sachs under this Agreement, the Company shall remain fully responsible for the performance of such Third Party under this Agreement and shall maintain policies and procedures reasonably designed to promote suchThird Party's compliance with applicable anti-corruption laws in connection with the services performed under this Agreement. The Company may engage vendors and other third parties in the ordinary course of its business (including, without limitation, printing, mailing, technology, custodial, proxy, and administrative support providers) without prior written approval of Goldman Sachs, provided that the Company remains responsible for their compliance with applicable laws in connection with this Agreement. Goldman Sachs' prior written consent shall be required only where the Company seeks to delegate primary responsibility for performing material administrative services under this Agreement to a subcontractor.

The Company shall ensure that its contracts with Third Parties approved by Goldman Sachs include clauses (a) – (c) above. The Company also agrees to comply with any other reasonable requirements set forth by Goldman Sachs as part of its approval of a Third Party related to the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Company agrees to give prompt written notice to Goldman Sachs in the event that, at any time during the term of this Agreement Company either becomes aware, or should have known, that any representations set forth in this Section 8 are no longer accurate or the Company has failed to comply with or has breached any of its warranties hereunder. In the event of such notice, or if Goldman Sachs otherwise verifies or determines reasonably and in good faith that the representations are no longer true and accurate or that the Company has failed to comply with or has breached any of its warranties hereunder, then Goldman Sachs shall have the unilateral right to terminate this Agreement; provided, however, that Goldman Sachs may provide the Company with the opportunity to cure such failure or breach in accordance with the following procedures: Goldman Sachs shall provide the Company with written notice describing such failure or breach with a request to cure such failure or breach. The Company shall then have thirty (30) days from receipt of such notice to cure such failure or breach, provided that no cure period shall apply in the case of fraud, willful misconduct, or violations of applicable anti-corruption laws. If the Company fails to cure such failure or breach within the applicable cure period (or if no cure period applies), Goldman Sachs may terminate this Agreement immediately upon written notice. In such event or upon Goldman Sachs' determination to terminate without a cure period, the Company shall not be entitled to receive any compensation from the time of such failure or breach, including for services previously rendered to the extent that those services are related to the failure or breach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The provisions of this Section 8 shall survive the expiry or earlier termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Representations and Warranties</u>. The Company represents and warrants that:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) it is an insurance company duly organized and in good standing under Delaware insurance law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) its entering into and performing its obligations under this Agreement does not and will not violate its
charter documents or by-laws, rules or regulations, or any agreement to which it is a party; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) it will keep confidential any information acquired in connection with the matters contemplated by this
Agreement regarding the business and affairs of the Trust, GSAM and their affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Interpretation</u>. This Agreement shall be construed in accordance with the laws of the State of Delaware, without giving effect to the principles of conflicts of laws, subject to the following rules:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement shall be subject to the provisions of the Act, and the rules, regulations and rulings
thereunder, including such exemptions from that statute, rules and regulations as the SEC may grant, and the terms herein shall be limited, interpreted and construed in accordance therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The captions in this Agreement are included for convenience of reference and in no way define or delineate
any of the provisions herein or otherwise affect their construction or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Amendment</u>. This Agreement may be amended only upon mutual agreement of the parties hereto in writing. Any notice to be provided pursuant to this Agreement is to be made in writing and shall be given:

If to GSAM:

Marci Green

Managing Director

Goldman, Sachs Asset Management, L.P.

200 West Street

New York, NY 10282

If to the Company:

Tom Rhee

Corporate Vice President

New York Life Insurance and Annuity Corporation

51 Madison Ave.

New York, NY 10010

or at such other address as such party may from time to time specify in writing to the other party. Each such notice to a party shall be sent by registered or certified United States mail with return

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receipt requested or by overnight delivery with a nationally recognized courier, and shall be effective upon receipt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Counterparts</u>. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which shall together constitute one and the same instrument.

If this Agreement is consistent with your understanding of the matters we discussed concerning your administrative services, kindly sign below and return a signed copy to us.

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| |
|:---|
| Very truly yours, |
| Goldman Sachs Asset Management, L.P. |
| By: |
| Name: |
| Title: |

---

---

| |
|:---|
| Acknowledged and Agreed to: |
| [New York Life Insurance Company] |
| By: |
| Name: |
| Title: |

---

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**SCHEDULE A** 

**Separate Accounts** 

All current and future Separate Accounts of the Company available for sale through the Contracts.

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**SCHEDULE B** 

**Funds** 

Goldman Sachs International Equity Insights Fund, a series of Goldman Sachs Variable Insurance Trust

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**SCHEDULE C** 

**Services** 

**Maintenance of books and records** 

- Record issuance of shares

- Record transfers (via net purchase orders)

- Reconciliation and balancing of the Separate Account at the Trust level in the general ledger, at various banks and within systems interface to the summary of each Contract Owner's position

**Fund-related Contract Owner services** 

- Printing and mailing costs associated with dissemination of Trust prospectus to existing Contract Owners

- Telephonic support for Contract Owners with respect to inquiries about the Trust (but not inquiries about the Contracts) unrelated to the sales of Contracts or distribution of Trust shares

Trust proxies (solicitation of voting instructions and preparation of materials, inclusive of printing, distribution, tabulation, and reporting) <br>

- Printing and mailing costs associated with dissemination of Trust reports and notices to existing Contract Owners

**Other administrative support** 

- Sub-accounting services

- Providing other administrative support to the Trust as mutually agreed between insurer and the Trust

- Relieving the Trust of the burden of providing other usual or incidental administrative services provided to individual shareholders

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**SCHEDULE D** 

**Fees** 

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| | |
|:---|:---|
| **Share Class of the Trust** | **Amounts per annum of the average**<br> **aggregate net asset value of shares of the**<br> **Trust held by the Separate Account under**<br> **the Participation Agreement** |
| &nbsp;&nbsp;&nbsp; Goldman Sachs International Equity Insights Fund, a series of Goldman Sachs Variable Insurance Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - Service and Institutional Class | [] basis points ([]%) |

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## Ex-99.(K)(1)

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

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| | |
|:---|:---|
| ![](g423905img3b23c4751.jpg) | &nbsp;&nbsp; **New York Life Insurance Company**<br> 51 Madison Avenue<br> New York, NY 10010<br>|
| ![](g423905img3b23c4751.jpg) | &nbsp;&nbsp; **Charles A. Whites, Jr.**<br> Vice President & Associate General Counsel<br>|

---

VIA EDGAR

April 13, 2026

U.S. Securities and Exchange Commission <br>100 F Street, N.E. <br>Washington, D.C. 20549

RE:

NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION <br>VARIABLE ANNUITY SEPARATE ACCOUNT–IV <br>INVESTMENT COMPANY ACT FILE NUMBER: 811-21397 <br><u>SECURITIES ACT FILE NUMBER:</u> <u>333-1560</u><u>19</u>

Ladies and Gentlemen:

This opinion is furnished in connection with the filing by New York Life Insurance and Annuity Corporation ("NYLIAC") of Post-Effective Amendment No. 33 to the registration statement on Form N-4 ("Registration Statement") under the Securities Act of 1933, as amended, of NYLIAC Variable Annuity Separate Account–IV ("Separate Account–IV"). Separate Account–IV receives and invests premiums allocated to it under individual New York Life flexible premium variable annuity policies ("Annuity Contracts"). The Annuity Contracts are offered in the manner described in the Registration Statement.

NYLIAC is a wholly-owned subsidiary of New York Life Insurance Company ("NYL"). My professional responsibilities at NYL include the provision of legal advice to NYLIAC. Also, I am a Vice President and Associate General Counsel of NYLIAC.

In connection with this opinion, I have consulted with relevant individuals under my supervision and have made such examination of the law and have examined such corporate records and such other documents as I consider appropriate as a basis for the opinions hereinafter expressed. On the basis of such consultation and examination, it is my opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. NYLIAC is a corporation duly organized and validly existing under the laws of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Separate Account–IV is a separate account established and maintained by NYLIAC pursuant to Section 2932 of the Delaware Insurance Code, under which the income, gains and losses, realized or unrealized, from assets allocated to Separate Account–IV shall be credited to or charged against Separate Account–IV, without regard to other income, gains or losses of NYLIAC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The Annuity Contracts have been duly authorized by NYLIAC and, when sold in jurisdictions authorizing such sales, in accordance with the Registration Statement, will constitute a validly issued and binding obligation of NYLIAC in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Each owner of an Annuity Contract will not be subject to any deductions, charges, or assessments imposed by NYLIAC, other than those provided in the Annuity Contracts.

I consent to the use of this opinion as an exhibit to the Registration Statement:

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| |
|:---|
| Very truly yours, |
| /s/ Charles A. Whites, Jr.<br>Charles A. Whites, Jr.<br> Vice President & Associate General Counsel<br>|

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## Ex-99.(L)(1)

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We hereby consent to the incorporation by reference in this Post-Effective Amendment No. 33 to the Registration Statement on Form N-4 (No. 333-156019) (the "Registration Statement") of our report dated February 27, 2026 relating to the statutory financial statements of New York Life Insurance and Annuity Corporation and consent to the incorporation by reference in the Registration Statement of our report dated April 7, 2026 relating to the financial statements of each of the investment divisions of NYLIAC Variable Annuity Separate Account - IV indicated in our report. We also consent to the references to us under the headings "Financial Statements" in such Registration Statement.

/s/ PricewaterhouseCoopers LLP<br>PricewaterhouseCoopers LLP<br> New York, New York<br>

April 13, 2026

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## Ex-99.(P)(1)

**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Matthew Williams, Michael K. McDonnell, Charles A. Whites, Jr., and Matthew D. Wion as his true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for him in his name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Variable Annuity Separate Account – IV (including, File Numbers 333-106806, 333-156019, 333-172044 and 333-219400) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person in his capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Erik A. Anderson<br>Erik A. Anderson<br>

April 9, 2026

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**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Matthew Williams, Michael K. McDonnell, Charles A. Whites, Jr., and Matthew D. Wion as her true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for her in her name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Variable Annuity Separate Account – IV (including, File Numbers 333-106806, 333-156019, 333-172044 and 333-219400) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as she might or could do in person in her capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Angela Chen<br>Angela Chen<br>

April 9, 2026

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**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Matthew Williams, Michael K. McDonnell, Charles A. Whites, Jr., and Matthew D. Wion as his true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for him in his name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Variable Annuity Separate Account – IV (including, File Numbers 333-106806, 333-156019, 333-172044 and 333-219400) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person in his capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Craig L. DeSanto<br>Craig L. DeSanto<br>

April 11, 2024

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**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Matthew Williams, Michael K. McDonnell, Charles A. Whites, Jr., and Matthew D. Wion as his true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for him in his name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Variable Annuity Separate Account – IV (including, File Numbers 333-106806, 333-156019, 333-172044 and 333-219400) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person in his capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Eric A. Feldstein<br>Eric A. Feldstein<br>

April 11, 2024

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**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Matthew Williams, Michael K. McDonnell, Charles A. Whites, Jr., and Matthew D. Wion as his true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for him in his name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Variable Annuity Separate Account – IV (including, File Numbers 333-106806, 333-156019, 333-172044 and 333-219400) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person in his capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Thomas A. Hendry<br>Thomas A. Hendry<br>

April 11, 2024

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**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Matthew Williams, Michael K. McDonnell, Charles A. Whites, Jr., and Matthew D. Wion as her true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for her in her name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Variable Annuity Separate Account – IV (including, File Numbers 333-106806, 333-156019, 333-172044 and 333-219400) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as she might or could do in person in her capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Jodi Kravitz<br>Jodi Kravitz<br>

April 11, 2024

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**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Matthew Williams, Charles A. Whites, Jr., and Matthew D. Wion as his true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for him in his name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Variable Annuity Separate Account – IV (including, File Numbers 333-106806, 333-156019, 333-172044 and 333-219400) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person in his capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Michael K. McDonnell<br>Michael K. McDonnell<br>

December 20, 2024

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**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Matthew Williams, Michael K. McDonnell, Charles A. Whites, Jr., and Matthew D. Wion as her true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for her in her name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Variable Annuity Separate Account – IV (including, File Numbers 333-106806, 333-156019, 333-172044 and 333-219400) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as she might or could do in person in her capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Amy Miller<br>Amy Miller<br>

April 11, 2024

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**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Matthew Williams, Michael K. McDonnell, Charles A. Whites, Jr., and Matthew D. Wion as his true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for him in his name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Variable Annuity Separate Account – IV (including, File Numbers 333-106806, 333-156019, 333-172044 and 333-219400) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person in his capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Craig A. Sabal<br>Craig A. Sabal<br>

April 9, 2026

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