Variable Universal Life 2000: Introduction

A Life Insurance Solution for the Investment-minded

Have you thought about your financial goals - and how to make them reality? When you begin to plan for the future, it's important to have a solid foundation. Life insurance can be an important part of a well thought-out financial plan. It can offer you valuable financial protection and with certain products, the ability to direct where your money is invested.

Your needs are constantly changing. That's why you need a policy that can change to meet your needs. New York Life Insurance and Annuity Corporation offers a flexible policy for today's changing world - the Variable Universal Life 2000 policy.

Permanent and Flexible
We all know that one size doesn't fit all. So, VUL 2000 allows you to customize your permanent life insurance protection and combine it with investment options that let you decide how your hard-earned premium dollars are invested. And, whatever your risk tolerance and objectives are, VUL 2000 provides the flexibility to ensure that your life insurance coverage suits your current - and future - financial needs.

VUL 2000 offers:

Flexible life insurance coverage - the ability to increase or decrease premiums or coverage, add or delete riders, and change investment options (subject to underwriting and/or surrender charge)
Tax-deferred accumulation of funds in twenty-two professionally-managed Investment Divisions
Tax-free transfers between Investment Divisions
Life insurance benefits paid to beneficiaries usually fully excluded from Federal income tax

VUL 2000 as a Business Solution
VUL 2000 not only helps protect your family with life insurance, but your business as well. The potential investment growth of a VUL 2000 policy can make it a useful tool in business continuation, charitable giving, estate conservation and dependent care strategies. Additionally, VUL 2000 may be an effective funding vehicle for buy-sell agreements and split-dollar arrangements.

More Flexibility and Tax-Deferred Earnings
With VUL 2000, you determine the frequency and amount of your premium payments¹. VUL 2000 also allows you to vary the amount of coverage² as your needs change.

In addition, the earnings that are possible with VUL 2000's Investment Divisions grow tax-deferred, and can help your money accumulate faster than it would in a taxable investment with a similar return.

Keep in mind that fees and charges associated with variable insurance may affect investment growth. These include charges for sales expenses, Federal and state tax, cost of insurance, mortality and expense risk, separate account administration, fund expenses, and any riders. We also assess a surrender charge on certain withdrawals. Refer to the VUL 2000 Prospectus, which you can get from your Registered Representative, for more details regarding policy fees and charges.

You're in Control of Your Future
You work hard for your money. That's why you deserve the chance to decide how it accumulates. With VUL 2000, you can choose from many funding options - including equity, income, and cash-oriented Investment Divisions. And, each Investment Division is managed by professional advisors with proven track records of success.

There's also a Fixed Account managed by NYLIAC. With a combination of variable investment and Fixed Account options, VUL 2000 lets you customize the way your premiums are invested to meet your immediate and long-term needs

Changing With The Times

Flexibility to Control Your Investments
With VUL 2000, you're never locked into the investment decisions you make today. Instead, VUL 2000 makes it easy to manage your investments and adjust them to suit your changing needs. Our no-cost features can help:

Automatic Asset Reallocation 3

Automatically reallocates your invested assets to maintain the percentages you've designated for various investment divisions. It can be scheduled quarterly, semi-annually, or annually.

Dollar Cost Averaging ⁴

1. Provides the opportunity to invest money without having to "time the market."
2. You can specify the amount ($100 minimum) and frequency of transfers from one Investment Division to another, or to your Fixed Account.
3. This allows the cost of the shares to be averaged over time and over various market cycles.

Dollar Cost Averaging does not assure a profit nor does it protect against loss in declining markets. Investors should consider their financial ability to continue to make purchases during periods of low price levels.

Expense Allocation

You direct NYLIAC on how to deduct monthly costs of insurance, (including policy rider, contract, separate account and administrative charges) from the MainStay VP Cash Management Investment Division, the Fixed Account, or both. ⁵

Interest Sweep ⁶

You can transfer the interest earned in your Fixed Account to up to twenty Investment Divisions. You specify the starting date and frequency of transfers (monthly, quarterly, semi-annually, or annually), as well as the percentage to be transferred to each Investment Division. ⁷

Customized Policy Design
You can customize your VUL 2000 policy to fit your lifestyle. Ask your Registered Representative how you can add different policy features that could help you provide financial protection for your spouse and children, keep the policy in force during disability, increase the life insurance benefit if you die accidentally, or customize the policy to cover other needs.

Service at Your Fingertips
A convenient toll-free number allows you to transfer funds between Investment Divisions or get up-to-the-minute information about your policy. You'll also receive statements on a quarterly basis that provide you with all the recent activity on your policy.

Our Registered Representatives are ready to help you customize your policy and answer any questions you have. Ask to have a Registered Representative speak with you to see how NYLIAC VUL 2000 can help you secure your financial future.

For more complete information and to obtain a product and fund prospectus, please contact your Registered Representative or call 1-800-598-2019. Investors are asked to consider the investment objectives, risks, charges, and expenses of the investment carefully before investing. Both the product prospectus and the underlying fund prospectuses contain this and other information about the product and underlying investment options. Please read the prospectus carefully before investing.

¹ Subject to minimums. The cash value must be sufficient to pay the policy's monthly charges.
² Increasing coverage may require underwriting requirements; decreasing coverage may result in a surrender charge.
³ This feature is available for contracts with a cash value of $2,500 or more (exclusive of money in the Fixed Account). Automatic Asset Reallocation cannot be used simultaneously with Dollar Cost Averaging.
⁴ This feature is available on any contract with cash value of $2,500 or more and cannot be used in conjunction with Automatic Asset Allocation.
⁵ If you do not provide NYLIAC with instructions regarding how your expenses are to be allocated, NYLIAC will deduct these charges from the Investment Divisions and amounts not held as collateral for a loan in the Fixed Account in proportion to these amounts. If the values in the MainStay VP Cash Management Investment Division and/or the Fixed Account are insufficient to pay these charges, NYLIAC will deduct the remainder proportionally from the Investment Divisions, including any unloaned amount in the Fixed Account.
⁶ The cash value in the Fixed Account must be at least $2,500 to select this option. In addition, if you want to allocate your expenses, you can only allocate them to MainStay VP Cash Management Division.
⁷ A maximum of the greater of (i) 20% of funds in the Fixed Account at the beginning of the policy year or (ii) $5,000 may be transferred to Investment Divisions.

Issuer: New York Life Insurance and Annuity Corporation (A Delaware Corporation)
Distributor: NYLIFE Distributors LLC.
(Member FINRA)
51 Madison Avenue
NY, NY 10010

Consult a Registered Representative
Please complete and send the form below and we'll have a NYLIFE Securities Registered Representative in your area contact you at your convenience.

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