About New York Life

About New York Life

Founded in 1845 and headquartered in New York City, New York Life Insurance Company is a Fortune 100 company and the oldest and one of the largest mutual life insurance companies in America. New York Life maintains operations in all 50 states, as well as Mexico and Taiwan, through a network of more than 17,000 agents and more than 10,000 employees. The Company holds the highest financial strength ratings currently awarded to any life insurer from the four principal rating agencies (1): A.M. Best, Fitch, Moody’s, and Standard & Poor’s. In 2011, New York Life Insurance Company led the industry in new individual life insurance sales for the third year in a row, with a market share of 10.7% (2).

About Our Business
The company serves its customers through its two major business units: the Insurance Group and the Investments Group. On a consolidated basis, total insurance sales reached $1.3 billion in 2011, a company record (3). Investment sales, also on a consolidated basis, totaled more than $51 billion (4). Total assets under management at year end rose to a record $338 billion (5). And the company paid out more than $7.6 billion in benefits and dividends to policyholders in 2011 (6). Surplus and asset valuation reserve increased by $1 billion, or 6.4%, to a record $17.9 billion (7)

The Insurance Group

The Insurance Group manufactures a full array of life insurance products including:

• Whole Life
• Term
• Universal Life and
• Variable Universal Life*

The company also provides Corporate Life Insurance (COLI), and Bank-Owned Life Insurance (BOLI), as well as long-term care insurance.

While the majority of all individual life insurance products are sold by New York Life's career agents, the Insurance Group also includes its Advanced Markets Network of brokers serving the high-net-worth market, as well as the direct-response business located in Tampa FL and the Group Membership Association Division. The direct response business is the leading direct marketer of life insurance in the U.S. through endorsed programs with AARP geared to its membership, specifically AARP Life Insurance and AARP Lifetime Income. The Group Membership division is the largest underwriter of professional association insurance programs in the U.S., covering members of more than 500 associations across the country.

The Investments Group
The Investments Group is focused on producing superior investment performance for New York Life’s General Account and delivering a broad base of investment and retirement solutions to retail and institutional clients. The Investments Group offers products such as MainStay mutual funds** and fixed*** and variable* deferred annuities for the accumulation stage of retirement, as well as guaranteed lifetime and future income annuities (fixed immediate annuities) for turning savings into income streams that will last a lifetime***.

Through its subsidiary, New York Life Investments****, the company offers one of the most comprehensive arrays of investment management competencies in the industry through multiple businesses:

• MainStay Investments
• New York Life Investments Fixed Income Investors Group
• New York Life Investments Real Estate Group
• New York Life Investments Guaranteed products
• Madison Capital Funding
• MacKay Sheilds
• Institutional Capital
• Madison Square Investors
• NYLCAP Manager
• Private Advisors
• New York Life Retirement Plan Services

* Offered through NYLIFE Securities LLC, (member FINRA/SIPC)

**MainStay Funds are managed by New York Life Investment Management, LLC, an indirect wholly owned subsidiary of New York Life Insurance Company, and distributed by NYLIFE Distributors LLC, 169 Lackawanna Avenue, Parsippany, NJ, 07054, a wholly owned subsidiary of New York Life Insurance Company. NYLIFE Distributors LLC is a member FINRA/SIPC.

For more information about MainStay Funds, call 800-MAINSTAY (624-6782) for a prospectus, or a summary prospectus. Investors are asked to consider the investment objectives, risks and charges, and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the investment company. Please read the prospectus or summary prospectus carefully before investing.

MainStay Investments is a registered service mark and name under which New York Life Investment Management LLC does business. MainStay Investments, an indirect wholly owned subsidiary of New York Life Insurance Company, provides investment advisory products and services.

***Issued by New York Life Insurance and Annuity Corporation (A Delaware Corporation). All guarantees are based up the claims paying ability of the issuer.

****"New York Life Investments" is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.

NYLIFE Securities LLC and New York Life Insurance and Annuity Corporation are wholly-owned subsidiaries of New York Life Insurance Company

1) Source: Third Party Ratings Reports: A.M. Best A++, Moody’s Aaa, Standard & Poor's AA+ and Fitch AAA as of 1/25/12. The financial strength and ratings do not apply to any investment products because they are subject to market risks and will fluctuate in value.

2) New York Life was the largest seller of individual life insurance, according to an industry source. Note: Sales based on all planned recurring premiums plus 100% of reported single premiums. Source: LIMRA International, Fourth Quarter YTD 2011 Individual Life Insurance Sales Survey.

3) Insurance sales represent annualized first-year premium on participating whole life insurance, term life insurance, universal life insurance, long-term care insurance, and other health insurance products. A sale is generally counted when the policy is paid. Adjustments are made to reflect the relative importance of certain sales, primarily: single premium agency sales and all sales through our Advanced Markets Network (AMN) distribution channel, our network of independent agents and brokers, are counted 10 percent and AMN Bank-Owned Life Insurance is excluded. In addition, Guaranteed Lifetime Income (GLI) annuity sales have been re-classed to investment sales. Insurance sales are generated from both our domestic and international businesses (where sales reported at ownership percentage).

4) Investment sales include individual immediate annuities (including GLI), individual accumulation annuities, mutual funds, and third-party asset management funds. International investment sales are reported at ownership percentage.

5) Assets Under Management represents Consolidated Domestic and International Insurance Company Statutory assets (cash and invested assets and separate account assets) and third-party assets principally managed by New York Life Investment Management Holdings LLC, a wholly-owned subsidiary of New York Life Insurance Company.

6) Policyholder benefits primarily include death claims paid to beneficiaries and annuity payments. Dividends are payments made to eligible policyholders from divisible surplus. Policyholder benefits and dividends include the Company and its domestic insurance subsidiaries. Dividends are not guaranteed. 2010 results have been adjusted to conform with our 2011 definition.

7) Statutory surplus and the asset valuation reserve (“AVR”) shown is on a consolidated basis of the Company.

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