|
Regular Mail |
Express Mail |
All written service requests (except for payments) |
NYLIAC Variable Products Service Center Madison Square Station P.O. Box 922 New York, NY 10159 |
NYLIAC Variable Products Service Center 51 Madison Avenue
Floor 3B, Room 0304 New York, NY 10010 |
Death Claim forms may also be submitted to |
Regular Mail |
|
New York Life P.O. Box 130539 Dallas, TX 75313–0539 |
|
|
Regular Mail |
Express Mail |
Premium Payments and Loan Repayments |
NYLIAC 75 Remittance Drive Suite 3021 Chicago, IL 60675–3021 |
NYLIAC 5450 N
Cumberland Avenue Suite 100
Chicago, IL
60656-1422 |
The Information in this Updating Summary Prospectus is a summary of
certain policy features that have changed since May 1,
2023. This may not reflect all changes that have occurred since you purchased your policy. | |
Change of Express Mailing
Address |
A new mailing address is provided for mailing subsequent premium payments and, if
applicable, loan repayments. |
The following Portfolios
are added as available
Investment Divisions
under the policy |
American Funds IS Capital World Bond Fund®—Class 4 |
American Funds IS U.S. Government Securities Fund®—Class 4 | |
Fidelity® VIP Extended Market Index Portfolio—Service
Class 2 | |
PIMCO VIT Short-Term Portfolio—Advisor Class | |
Principal VC Real Estate Securities Account—Class 2 |
|
Putnam VT International Value Fund—Class IB | |
Voya Growth and Income Portfolio—Class S | |
The names of the
following Portfolios have
been changed: |
MainStay VP Hedge Multi-Strategy (formerly known as MainStay VP IQ Hedge
Multi-Strategy) |
Mainstay VP MacKay U.S. Infrastructure Bond (formerly known as MainStay VP
MacKay Government) | |
MainStay VP PineStone International Equity (formerly known as MainStay VP
MacKay International Equity) | |
Macquarie VIP Small Cap Value Series (formerly known as Delaware VIP® Small
Cap Value Series) | |
Portfolio Performance and
Expenses |
For updated Portfolio performance and expense information, see the Appendix for the
Portfolios Available Under the Policy. |
|
FEES AND EXPENSES |
LOCATION IN
PROSPECTUS |
Charges for Early
Withdrawal |
If you withdraw more than the Surrender Charge Free Amount within
the first nine Policy Years, you will be assessed a surrender charge.
The maximum surrender charge is 7% of the amount withdrawn during
the first three Policy Years, declining to 0% over that nine-year period.
For example, if you make an early withdrawal within the first three
Policy Years, you could pay a surrender charge of up to $7,000 on a
$100,000 investment. |
CHARGES AND
DEDUCTIONS –
Transaction
Expenses
–Surrender
Charges |
Transaction
Charges |
We reserve the right to assess a transaction charge if you transfer cash
value between investment options more than 12 times a year, or if a
premium payment is returned for insufficient funds. A loan
processing fee may apply if you take a policy loan. Although we do
not currently charge for such transactions, we reserve the right to
charge up to $30 per transaction. |
CHARGES AND
DEDUCTIONS
–Transaction
Expenses |
Ongoing Fees
and Expenses
(annual charges) |
The table below describes the fees and expenses that you may pay
each year, depending on the options you choose. Please refer to your
Policy Data Page for information about the specific fees you will pay each year based on the options you have elected. |
CHARGES AND DEDUCTIONS -Annual Policy Expenses; Annual Portfolio Expenses; Optional Benefit Expenses |
|
ANNUAL FEE |
MINIMUM |
MAXIMUM |
|
|
Base contract1 |
1.40% |
1.60% |
CHARGES AND
DEDUCTIONS –
Annual Policy
Expenses |
|
Investment options (Portfolio fees
and expenses)2 |
0.38% |
1.42% |
CHARGES AND
DEDUCTIONS –
Annual Portfolio
Expenses |
|
Optional benefits available for an
additional charge (for a single
optional benefit, if elected)3 |
0.30% |
0.35% |
CHARGES AND
DEDUCTIONS –
Optional Benefit
Expenses |
|
1 As an annualized percentage of daily Variable Accumulation Value
(Minimum Base Contract Charge) and as a percentage of Adjusted
Premium Payments (Maximum Base Contract Charge).
2 As a percentage of average net Portfolio assets. The range in fees and expenses is for the year ended December 31, 2023 and will change from year to year.
3 As a percentage of the ADBR Reset Value. |
|
|
Because your policy is customizable, the choices you make affect how
much you will pay. To help you understand the cost of owning your
policy, the following table shows the lowest and highest cost you
could pay each year, based on current charges. This estimate assumes that
you do not take withdrawals from the policy, which could add surrender charges that substantially increase costs. |
| ||
|
LOWEST ANNUAL COST: $1,643.98 |
HIGHEST ANNUAL COST $2,988.30 |
| |
|
Assumes: •Investment of $100,000 •5% annual appreciation •Least expensive combination of Base Contract Charges and
Portfolio fees and expenses •No optional benefits •No sales charges •No additional purchase payments, transfers or withdrawals |
Assumes: •Investment of $100,000 •5% annual appreciation •Most expensive combination of Base Contract Charges, optional benefits, and Portfolio fees and expenses •No sales charges •No additional purchase
payments, transfers or
withdrawals |
|
|
RISKS |
LOCATION IN
PROSPECTUS |
Risk of Loss |
You can lose money by investing in this policy. |
PRINCIPAL RISKS |
Not a Short-Term
Investment |
This policy is not designed for short-term investing and is not
appropriate for an investor who readily needs access to cash.
Surrender charges apply for up to the first nine Policy Years. They will
reduce the value of your policy if you withdraw money during that
time. The benefits of tax deferral and living benefit protections
also mean the policy is more beneficial to investors with a long
time horizon. |
PRINCIPAL RISKS |
Risks Associated
with Investment
Options |
•An investment in this policy is subject to the risk of poor investment performance and can vary depending on the performance of the variable investment options (e.g., Portfolios) and guaranteed options (e.g., the Fixed Account) you choose. •Each investment option has its own unique risks. •You should review the prospectuses for the available Portfolios before making an investment decision. |
PRINCIPAL RISKS |
Insurance
Company
Risks |
An investment in the policy is subject to the risks related to NYLIAC,
including that any obligations, guarantees, and benefits of the policy
are subject to the claims-paying ability of NYLIAC. If NYLIAC
experiences financial distress, it may not be able to meet its
obligations to you. More information about NYLIAC is available upon
request from NYLIAC by calling the VPSC at 1-800-598-2019. |
PRINCIPAL RISKS |
|
RESTRICTIONS |
LOCATION IN
PROSPECTUS |
Investments |
•We limit the number of Investment Divisions you may choose. You may allocate premium payments to up to 18 separate Investment Divisions, plus the Fixed Account, some of which may not be available under your policy. •We reserve the right to charge $30 for each transfer when you transfer money between Investment Divisions in excess of 12 times in a Policy Year. •We reserve the right to limit transfers in circumstances of frequent
transfers or to prevent market timing. •We reserve the right to remove, close, or substitute Portfolios as investment options that are available under the policy. |
THE
POLICIES—Policy
Application and
Premium Payments,
Transfers, and
Limits on Transfers NYLIAC AND THE
SEPARATE
ACCOUNTS— Additions, Deletions, or Substitutions of Investments |
Optional Benefits |
•Some optional benefits cannot be cancelled without surrendering your policy. •Certain optional benefits may limit withdrawals or other rights under
the policy. •Under certain benefits, a withdrawal could reduce the value of a benefit by more than the dollar amount of the withdrawal. •You are required to have a minimum Accumulation Value for some optional benefits. •We may modify or discontinue an optional benefit at any time. •Some optional benefits cannot be cancelled without surrendering your policy. |
DESCRIPTION OF
BENEFITS |
|
TAXES |
LOCATION IN
PROSPECTUS |
Tax
Implications |
•Consult with a tax professional to determine the tax implications of an investment in, withdrawals from and surrenders of this policy. •If you purchase the policy through a tax-qualified plan or individual retirement account (IRA), such plan or IRA already provides tax deferral under the Code and there are fees and charges in an annuity that may not be included in such other investments. Therefore, the tax deferral of the annuity does not provide additional benefits. •Premiums that are made on a pre-tax basis as well as earnings on your policy are taxed at ordinary income tax rates when you withdraw them, and you may have to pay a 10% penalty tax if you take a withdrawal before age 59½. |
FEDERAL TAX
MATTERS |
|
CONFLICTS OF INTEREST |
LOCATION IN
PROSPECTUS |
Investment
Professional
Compensation |
Your registered representative may receive compensation for selling
this policy to you, in the form of commissions, asset-based
compensation, allowances for expenses, and other compensation
programs. Your registered representative may have a financial incentive
to offer or recommend this policy over another
investment. |
DISTRIBUTION AND COMPENSATION ARRANGEMENTS |
Exchanges |
Your registered representative may have a financial incentive to offer you a new policy in place of the one you own. You should consider exchanging your policy if you determine, after comparing the features, fees, and risks of both policies, that it is in your best interest to purchase the new policy rather than continue to own your existing policy. |
THE POLICIES – Tax-Free Section 1035 Exchanges |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Large Cap Equity |
MainStay VP American Century Sustainable
Equity — Service Class Adviser: New York Life Investment Management LLC (“New York Life
Investments”) /
Subadviser: American Century Investment Management, Inc. |
0.92% |
24.08% |
12.66% |
8.46% |
Asset Allocation |
MainStay VP Balanced — Service Class Adviser: New York Life Investments /
Subadviser: NYL Investors LLC (“NYL Investors”) and Wellington Management Company LLP (“Wellington”) |
0.95% |
7.28% |
8.15% |
5.90% |
Investment
Grade Bond |
MainStay VP Bond — Service Class Adviser: New York Life Investments /
Subadviser: NYL Investors |
0.77% |
5.31% |
0.71% |
1.45% |
International/Global
Equity |
MainStay VP Candriam Emerging Markets
Equity — Service Class+ Adviser: New York Life Investments /
Subadviser: Candriam |
1.39% |
6.98% |
2.24% |
(0.17)% |
Sector |
MainStay VP CBRE Global Infrastructure —
Service Class Adviser: New York Life Investments /
Subadviser: CBRE Investment Management Listed Real Assets LLC |
1.20% |
3.80% |
0.46% |
(2.84)% |
Asset Allocation |
MainStay VP Conservative Allocation — Service
Class Adviser: New York Life Investments |
0.73% |
10.02% |
5.38% |
3.82% |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Large Cap Equity |
MainStay VP Epoch U.S. Equity Yield — Service
Class Adviser: New York Life Investments /
Subadviser: Epoch Investment Partners, Inc. (“Epoch”) |
0.93% |
8.42% |
9.82% |
6.91% |
Asset Allocation |
MainStay VP Equity Allocation — Service Class Adviser: New York Life Investments |
0.86% |
17.10% |
10.45% |
6.62% |
Sector |
MainStay VP Fidelity Institutional AM®
Utilities — Service Class Adviser: New York Life Investments /
Subadviser: FIAM LLC (“FIAM”) |
0.92% |
(1.71)% |
8.14% |
6.15% |
Non-Investment
Grade Bond |
MainStay VP Floating Rate — Service Class Adviser: New York Life Investments /
Subadviser: NYL Investors |
0.89% |
11.58% |
4.69% |
3.54% |
Asset Allocation |
MainStay VP Growth Allocation — Service
Class Adviser: New York Life Investments |
0.82% |
15.20% |
9.20% |
5.96% |
Alternatives |
MainStay VP Hedge Multi-Strategy (formerly
MainStay VP IQ Hedge Multi-Strategy) —
Service Class Adviser: New York Life Investments /
Subadviser: IndexIQ Advisors LLC (“IndexIQ”) |
1.32% |
9.98% |
2.53% |
(1.67)% |
Asset Allocation |
MainStay VP Income Builder — Service Class Adviser: New York Life Investments /
Subadvisers: Epoch and MacKay Shields LLC (“MacKay”) |
0.87% |
9.78% |
5.78% |
4.75% |
Asset Allocation |
MainStay VP Janus Henderson Balanced —
Service Class Adviser: New York Life Investments /
Subadviser: Janus Henderson Investors US LLC (“Janus Henderson”) |
0.82% |
15.23% |
9.48% |
7.78% |
Non-Investment
Grade Bond |
MainStay VP MacKay Convertible — Service
Class Adviser: New York Life Investments /
Subadviser: MacKay |
0.83% |
8.58% |
11.31% |
8.23% |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Non-Investment
Grade Bond |
MainStay VP MacKay High Yield Corporate
Bond — Service Class Adviser: New York Life Investments /
Subadviser: MacKay |
0.83% |
11.59% |
5.04% |
4.47% |
Non-Investment
Grade Bond |
MainStay VP MacKay Strategic Bond — Service
Class Adviser: New York Life Investments /
Subadviser: MacKay |
0.87% |
9.92% |
3.18% |
2.49% |
Investment
Grade Bond |
MainStay VP MacKay U.S. Infrastructure Bond
(formerly MainStay VP MacKay Government) —
Service Class Adviser: New York Life Investments /
Subadviser: MacKay |
0.81% |
4.74% |
0.05% |
0.72% |
Asset Allocation |
MainStay VP Moderate Allocation — Service
Class Adviser: New York Life Investments |
0.76% |
12.73% |
7.20% |
4.90% |
Sector |
MainStay VP Natural Resources — Initial Class Adviser: New York Life Investments /
Subadviser: Newton Investment Management North America, LLC ("NIMNA") |
0.84% |
1.92% |
18.96% |
2.79% |
Investment
Grade Bond |
MainStay VP PIMCO Real Return — Service
Class Adviser: New York Life Investments /
Subadviser: Pacific Investment Management Company LLC (“PIMCO”) |
1.03% |
3.46% |
3.08% |
2.01% |
International/Global
Equity |
MainStay VP PineStone International Equity
(formerly MainStay VP MacKay International
Equity) — Service Class Adviser: New York Life Investments /
Subadviser: PineStone Asset Management Inc. |
1.11% |
4.01% |
5.10% |
3.85% |
Large Cap Equity |
MainStay VP S&P 500 Index — Service Class Adviser: New York Life Investments /
Subadviser: IndexIQ |
0.37% |
25.83% |
15.25% |
11.53% |
Small/Mid Cap
Equity |
MainStay VP Small Cap Growth — Service
Class Adviser: New York Life Investments /
Subadvisers: Brown Advisory, LLC and Segall Bryant & Hamill, LLC |
1.10% |
15.22% |
10.29% |
7.26% |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Money Market |
MainStay VP U.S. Government Money Market —
Initial Class Adviser: New York Life Investments /
Subadviser: NYL Investors |
0.28% |
4.81% |
1.61% |
0.99% |
Large Cap Equity |
MainStay VP Wellington Growth — Service
Class+ Adviser: New York Life Investments /
Subadviser: Wellington |
0.97% |
38.26% |
13.51% |
10.05% |
Small/Mid Cap
Equity |
MainStay VP Wellington Mid Cap — Service
Class Adviser: New York Life Investments /
Subadviser: Wellington |
1.11% |
13.41% |
7.93% |
6.39% |
Small/Mid Cap
Equity |
MainStay VP Wellington Small Cap — Service
Class Adviser: New York Life Investments /
Subadviser: Wellington |
0.99% |
13.60% |
6.42% |
5.99% |
Large Cap Equity |
MainStay VP Wellington U.S. Equity — Service
Class Adviser: New York Life Investments /
Subadviser: Wellington |
0.81% |
24.27% |
12.88% |
10.19% |
Large Cap Equity |
MainStay VP Winslow Large Cap Growth —
Service Class Adviser: New York Life Investments
/ Subadviser: Winslow Capital Management, LLC |
0.99% |
42.70% |
17.29% |
13.18% |
Large Cap Equity |
AB VPS Relative Value Portfolio — Class B Adviser: AllianceBernstein L.P. |
0.86% |
11.72% |
11.57% |
9.05% |
Asset Allocation |
American Funds IS Asset Allocation Fund —
Class 4 Adviser: Capital Research and Management CompanySM (“CRMC”) |
0.80% |
14.02% |
8.92% |
6.98% |
Investment Grade
Bond |
American Funds IS The Bond Fund of America®
— Class 4 Adviser: CRMC |
0.73% |
4.72% |
1.62% |
1.83% |
Investment
Grade Bond |
American Funds IS Capital World Bond Fund®
— Class 4 Adviser: CRMC |
0.98% |
5.89% |
(0.56)% |
0.12% |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
International/Global
Equity |
American Funds IS Global Small Capitalization
Fund — Class 4 Adviser: CRMC |
1.16% |
15.79% |
8.03% |
5.51% |
Large Cap Equity |
American Funds IS Growth Fund — Class 4 Adviser: CRMC |
0.84% |
38.13% |
18.38% |
14.07% |
International/Global
Equity |
American Funds IS New World Fund® — Class
4 Adviser: CRMC |
1.07% |
15.67% |
8.37% |
4.43% |
Investment
Grade Bond |
American Funds IS U.S. Government Securities
Fund® — Class 4 Adviser: CRMC |
0.76% |
2.62% |
0.79% |
1.27% |
Large Cap Equity |
American Funds IS Washington Mutual Investors
FundSM — Class 4 Adviser: CRMC |
0.77% |
16.97% |
12.33% |
9.64% |
Asset Allocation |
BlackRock® Global Allocation V.I. Fund — Class
III Adviser: BlackRock Advisors, LLC (“BlackRock”) / Subadvisers: BlackRock (Singapore) Limited
and BlackRock International Limited
|
1.02% |
12.49% |
7.39% |
4.63% |
Non-Investment
Grade Bond |
BlackRock® High Yield V.I. Fund — Class
III Adviser: BlackRock / Subadviser: BlackRock
International Limited |
0.79% |
12.94% |
5.49% |
4.21% |
Sector |
BNY Mellon IP Technology Growth Portfolio —
Service Shares Adviser: BNY Mellon Investment Adviser, Inc. /
Subadviser: NIMNA |
1.03% |
59.00% |
15.31% |
12.94% |
Large Cap Equity |
BNY Mellon Sustainable U.S. Equity Portfolio —
Service Shares Adviser: BNY Mellon Investment Adviser, Inc. /
Subadviser: Newton Investment Management Limited |
0.92% |
23.50% |
14.85% |
10.18% |
Large Cap Equity |
ClearBridge Variable Appreciation Portfolio —
Class II Adviser: Franklin Templeton Fund Adviser, LLC ("FTFA") / Subadviser: ClearBridge Investments, LLC |
0.97% |
19.39% |
13.79% |
N/A |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Sector |
Columbia Variable Portfolio — Commodity
Strategy Fund — Class 2++ Adviser: Columbia Management Investment Advisers, LLC (“Columbia”) / Subadviser:
Threadneedle International Limited
|
1.01% |
(7.14)% |
9.08% |
(0.97)% |
Non-Investment
Grade Bond |
Columbia Variable Portfolio — Emerging
Markets Bond Fund — Class 2 Adviser: Columbia |
1.00% |
10.02% |
1.57% |
2.20% |
Investment Grade
Bond |
Columbia Variable Portfolio — Intermediate
Bond Fund — Class 2 Adviser: Columbia |
0.76% |
5.96% |
1.34% |
1.99% |
Small/Mid Cap
Equity |
Columbia Variable Portfolio — Small Cap Value
Fund — Class 2 Adviser: Columbia |
1.11% |
21.67% |
13.39% |
8.40% |
Alternatives |
DWS Alternative Asset Allocation VIP — Class
B Adviser: DWS Investment Management Americas Inc. / Subadviser: RREEF America LLC |
1.21% |
5.67% |
5.70% |
2.63% |
Investment
Grade Bond |
Fidelity® VIP Bond Index Portfolio — Service
Class 2 Adviser: Fidelity Management & Research Company LLC (“FMR”) / Subadvisers:
Other investment advisers |
0.39% |
5.13% |
0.64% |
N/A |
Large Cap Equity |
Fidelity® VIP ContrafundSM Portfolio — Service
Class 2 Adviser: FMR / Subadvisers: Other investment advisers |
0.81% |
33.12% |
16.36% |
11.33% |
International/Global
Equity |
Fidelity® VIP Emerging Markets Portfolio —
Service Class 2 Adviser: FMR / Subadvisers: Other investment advisers |
1.14% |
9.49% |
7.55% |
4.92% |
Large Cap Equity |
Fidelity® VIP Equity-Income PortfolioSM —
Service Class 2 Adviser: FMR / Subadvisers: Other investment advisers |
0.72% |
10.38% |
12.01% |
8.31% |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Small/Mid Cap
Equity |
Fidelity® VIP Extended Market Index Portfolio —
Service Class 2 Adviser: FMR / Subadviser: Geode Capital Management, LLC (“Geode”) |
0.38% |
17.11% |
11.02% |
N/A |
Asset Allocation |
Fidelity® VIP FundsManager® 60% Portfolio —
Service Class Adviser: FMR |
0.71% |
14.17% |
8.61% |
6.26% |
Large Cap Equity |
Fidelity® VIP Growth Opportunities Portfolio —
Service Class 2 Adviser: FMR / Subadvisers: Other investment advisers |
0.84% |
45.30% |
18.79% |
15.44% |
Sector |
Fidelity® VIP Health Care Portfolio — Service
Class 2 Adviser: FMR / Subadvisers: Other investment advisers |
0.84% |
4.01% |
9.50% |
10.39% |
International/Global
Equity |
Fidelity® VIP International Index Portfolio —
Service Class 2 Adviser: FMR / Subadviser: Geode |
0.42% |
15.88% |
6.89% |
N/A |
Investment Grade
Bond |
Fidelity® VIP Investment Grade Bond
Portfolio — Service Class 2 Adviser: FMR / Subadvisers: Other investment advisers |
0.63% |
6.00% |
1.72% |
2.08% |
Small/Mid Cap
Equity |
Fidelity® VIP Mid Cap Portfolio — Service Class
2 Adviser: FMR / Subadvisers: Other investment advisers |
0.82% |
14.80% |
12.17% |
7.85% |
Asset Allocation |
Franklin Templeton Aggressive Model
Portfolio — Class II Adviser: FTFA / Subadviser: Franklin Advisers, Inc. (“Franklin Advisers”) |
0.91% |
18.05% |
N/A |
N/A |
Asset Allocation |
Franklin Templeton Moderately Aggressive
Model Portfolio — Class II Adviser: FTFA / Subadviser: Franklin Advisers |
0.88% |
15.53% |
N/A |
N/A |
Asset Allocation |
Franklin Templeton Moderate Model Portfolio —
Class II Adviser: FTFA / Subadviser: Franklin Advisers |
0.85% |
13.18% |
N/A |
N/A |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Asset Allocation |
Franklin Templeton Moderately Conservative
Model Portfolio — Class II Adviser: FTFA / Subadviser: Franklin Advisers |
0.85% |
10.31% |
N/A |
N/A |
Asset Allocation |
Franklin Templeton Conservative Model
Portfolio — Class II Adviser: FTFA / Subadviser: Franklin Advisers |
0.89% |
8.31% |
N/A |
N/A |
International/Global
Equity |
Invesco V.I. EQV International Equity Fund —
Series II Shares Adviser: Invesco Advisers, Inc. (“Invesco”) |
1.15% |
17.86% |
8.15% |
4.07% |
Small/Mid Cap
Equity |
Invesco V.I. Main Street Small Cap Fund® —
Series II Shares Adviser: Invesco |
1.13% |
17.82% |
12.79% |
8.66% |
Small/Mid Cap
Equity |
Janus Henderson Enterprise Portfolio — Service
Shares Adviser: Janus Henderson |
0.97% |
17.78% |
13.14% |
11.82% |
International/Global
Equity |
Janus Henderson Global Research Portfolio —
Service Shares Adviser: Janus Henderson |
0.86% |
26.47% |
13.05% |
8.74% |
Small/Mid Cap
Equity |
Macquarie VIP Small Cap Value Series
(formerly Delaware VIP® Small Cap Value
Series) — Service Class Adviser: Delaware Management Company, a series of Macquarie Investment Management Business Trust (a Delaware statutory trust) |
1.08% |
9.10% |
9.87% |
6.77% |
International Equity |
MFS® International Intrinsic Value Portfolio —
Service Class Adviser: Massachusetts Financial Services Company (“MFS”) |
1.14% |
17.37% |
8.31% |
6.66% |
Large Cap Equity |
MFS® Investors Trust Series — Service
Class Adviser: MFS |
1.03% |
18.66% |
13.27% |
10.00% |
Mid Cap
Equity |
MFS® Mid Cap Value Portfolio — Service
Class Adviser: MFS |
1.04% |
12.39% |
12.60% |
8.46% |
International/Global
Equity |
MFS® Research International Portfolio —
Service Class Adviser: MFS |
1.14% |
12.83% |
8.23% |
3.89% |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Large Cap Equity |
MFS® Research Series — Service Class
Adviser: MFS |
1.04% |
22.12% |
14.13% |
10.55% |
Sector |
Morgan Stanley VIF U.S. Real Estate Portfolio —
Class II Adviser: Morgan Stanley Investment Management Inc. |
1.05% |
14.22% |
2.66% |
4.26% |
Small/Mid Cap
Equity |
Neuberger Berman AMT Mid Cap Growth
Portfolio — Class S Adviser: Neuberger Berman Investment Advisers LLC |
1.11% |
17.96% |
11.86% |
8.69% |
Investment
Grade Bond |
PIMCO VIT Income Portfolio — Advisor Class Adviser: PIMCO |
1.13% |
8.14% |
3.22% |
N/A |
Investment
Grade Bond |
PIMCO VIT International Bond Portfolio (U.S.
Dollar-Hedged) — Advisor Class Adviser: PIMCO |
1.38% |
8.91% |
1.54% |
N/A |
Investment
Grade Bond |
PIMCO VIT Low Duration Portfolio — Advisor
Class Adviser: PIMCO |
0.79% |
4.87% |
0.88% |
0.82% |
Investment
Grade Bond |
PIMCO VIT Short-Term Portfolio — Advisor
Class Adviser: PIMCO |
0.76% |
5.80% |
2.02% |
1.76% |
Investment
Grade Bond |
PIMCO VIT Total Return Portfolio — Advisor
Class Adviser: PIMCO |
0.85% |
5.83% |
0.98% |
1.60% |
Sector |
Principal VC Real Estate Securities Account —
Class 2 Adviser: Principal Global Investors, LLC /
Subadviser: Principal Real Estate Investors, LLC |
1.04% |
13.01% |
8.24% |
8.44% |
International/Global
Equity |
Putnam VT International Value Fund — Class IB Adviser: Putnam Investment Management, LLC /
Subadvisers: Putnam Investments Limited and The Putnam Advisory Company, LLC |
1.13% |
18.68% |
9.70% |
3.88% |
Large Cap Equity |
Voya Growth and Income Portfolio — Class S Adviser: Voya Investments, LLC / Subadviser:
Voya Investment Management Co. LLC |
0.92% |
27.06% |
15.90% |
11.02% |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Investment
Grade Bond |
Western Asset Core Plus VIT Portfolio — Class
II Adviser: FTFA / Subadvisers: Western Asset Management Company, LLC; Western Asset Management Company Limited in London; Western Asset Management Company Pte. Ltd. in Singapore; and Western Asset Management Company Ltd. in Japan |
0.76% |
6.44% |
0.98% |
N/A |
|
Regular Mail |
Express Mail |
All written service requests (except for payments) |
NYLIAC Variable Products Service Center Madison Square Station P.O. Box 922 New York, NY 10159 |
NYLIAC Variable Products Service Center 51 Madison Avenue
Floor 3B, Room 0304 New York, NY 10010 |
Death Claim forms may also be submitted to |
Regular Mail |
|
New York Life P.O. Box 130539 Dallas, TX 75313–0539 |
|
|
Regular Mail |
Express Mail |
Premium Payments and Loan Repayments |
NYLIAC 75 Remittance Drive Suite 3021 Chicago, IL 60675–3021 |
NYLIAC 5450 N
Cumberland Avenue Suite 100
Chicago, IL
60656-1422 |
The Information in this Updating Summary Prospectus is a summary of
certain policy features that have changed since May 1,
2023. This may not reflect all changes that have occurred since you purchased your policy. | |
Change of Express Mailing
Address |
A new mailing address is provided for mailing subsequent premium payments and, if
applicable, loan repayments. |
The following Portfolios
are added as available
Investment Divisions
under the policy |
American Funds IS Capital World Bond Fund®—Class 4 |
American Funds IS U.S. Government Securities Fund®—Class 4 | |
Fidelity® VIP Extended Market Index Portfolio—Service
Class 2 | |
PIMCO VIT Short-Term Portfolio—Advisor Class | |
Principal VC Real Estate Securities Account—Class 2 |
|
Putnam VT International Value Fund—Class IB | |
Voya Growth and Income Portfolio—Class S | |
The names of the
following Portfolios have
been changed: |
MainStay VP Hedge Multi-Strategy (formerly known as MainStay VP IQ Hedge
Multi-Strategy) |
Mainstay VP MacKay U.S. Infrastructure Bond (formerly known as MainStay VP
MacKay Government) | |
MainStay VP PineStone International Equity (formerly known as MainStay VP
MacKay International Equity) | |
Macquarie VIP Small Cap Value Series (formerly known as Delaware VIP® Small
Cap Value Series) | |
Portfolio Performance and
Expenses |
For updated Portfolio performance and expense information, see the Appendix for the
Portfolios Available Under the Policy. |
|
FEES AND EXPENSES |
LOCATION IN
PROSPECTUS |
Charges for Early
Withdrawal |
In most jurisdictions,* if you withdraw more than the Surrender Charge
Free Amount within the first nine Policy Years, you will be
assessed a surrender charge. The maximum surrender charge is 7% of
the amount withdrawn during the first three Policy Years, declining
to 0% over that nine-year period. For example, if you make an early
withdrawal within the first three Policy Years, you could pay a
surrender charge of up to $7,000 on a $100,000 investment.
*Policies issued in New York with an application date signed on or
after November 13, 2023 are subject to a different surrender charge
schedule. For those New York policies, if you withdraw more than
the Surrender Charge Free Amount from your policy within the first
seven Policy Years, you will be assessed a surrender charge. The
maximum surrender charge is 8% of the amount withdrawn during the
first two Policy Years declining to 0% over that seven-year
period. |
CHARGES AND
DEDUCTIONS –
Transaction
Expenses
–Surrender
Charges |
Transaction
Charges |
We reserve the right to assess a transaction charge if you transfer cash
value between investment options more than 12 times a year, or if a
premium payment is returned for insufficient funds. A loan
processing fee may apply if you take a policy loan. Although we do
not currently charge for such transactions, we reserve the right to
charge up to $30 per transaction. |
CHARGES AND
DEDUCTIONS
–Transaction
Expenses |
Ongoing Fees
and Expenses
(annual charges) |
The table below describes the fees and expenses that you may pay
each year, depending on the options you choose. Please refer to your
Policy Data Page for information about the specific fees you will pay each year based on the options you have elected. |
CHARGES AND DEDUCTIONS -Annual Policy Expenses; Annual Portfolio Expenses; Optional Benefit Expenses |
|
ANNUAL FEE
(for policies applied for on or
after May 1, 2016) |
MINIMUM |
MAXIMUM |
|
|
Base contract1 |
1.10% |
1.40% |
CHARGES AND
DEDUCTIONS –
Annual Policy
Expenses |
|
Investment options (Portfolio fees
and expenses)2 |
0.38% |
1.42% |
CHARGES AND
DEDUCTIONS –
Annual Portfolio
Expenses |
|
Optional benefits available for an
additional charge (for a single
optional benefit, if elected)3 |
0.25% |
0.25% |
CHARGES AND DEDUCTIONS – Optional Benefit Expenses |
|
1 As a percentage of Accumulation Value (Minimum Base Contract
Charge) and as a percentage of Adjusted Premium Payments
(Maximum Base Contract Charge).
2 As a percentage of average net Portfolio assets. The range in fees
and expenses is for the year ended December 31, 2023 and will
change from year to year. 3 As an annualized percentage of the ADBR Reset Value.
|
| ||
|
Because your policy is customizable, the choices you make affect how
much you will pay. To help you understand the cost of owning your
policy, the following table shows the lowest and highest cost you
could pay each year, based on current charges. This estimate assumes that
you do not take withdrawals from the policy, which could add surrender charges that substantially increase costs.
|
| ||
|
LOWEST ANNUAL COST $1,422.41 |
HIGHEST ANNUAL COST $2,578.58 |
| |
|
Assumes: •Investment of $100,000 •5% annual appreciation •Least expensive combination of Base Contract Charges and Portfolio fees and expenses •No optional benefits •No sales charges •No additional purchase
payments, transfers or
withdrawals |
Assumes: •Investment of $100,000 •5% annual appreciation •Most expensive combination of Base Contract Charges, optional benefits, and Portfolio fees and expenses •No sales charges •No additional purchase payments, transfers or withdrawals |
|
|
ANNUAL FEE
(for policies applied for before
May 1, 2016) |
MINIMUM |
MAXIMUM |
|
|
Base contract1 |
1.15% |
1.55% |
Charges and
Deductions –
Annual Policy
Expenses |
|
Investment options (Portfolio fees
and expenses)2 |
0.38% |
1.42% |
Charges and
Deductions –
Annual Portfolio
Expenses |
|
Optional benefits available for an
additional charge (for a single
optional benefit, if elected)3 |
0.30% |
0.35% |
Charges and
Deductions –
Optional Benefit
Expense |
|
1 As a percentage of Accumulation Value (Minimum Base Contract Charge) and as a percentage of Adjusted Premium Payments (Maximum Base Contract Charge). 2 As a percentage of average net Portfolio assets. The
range in fees and expenses is for the year ended December 31, 2023
and will change from year to year. 3 As an annualized percentage of the ADBR Reset
Value. |
|
|
Because your policy is customizable, the choices you make affect how
much you will pay. To help you understand the cost of owning your
policy, the following table shows the lowest and highest cost you
could pay each year, based on current charges. This estimate assumes that
you do not take withdrawals from the policy, which could add surrender charges that substantially increase costs. |
| ||
|
LOWEST ANNUAL COST $1,584.26 |
HIGHEST ANNUAL COST $2,707.88 |
| |
|
Assumes: •Investment of $100,000 •5% annual appreciation •Least expensive combination of Base Contract Charges and Portfolio fees and expenses •No optional benefits •No sales charges •No additional purchase
payments, transfers or
withdrawals |
Assumes: •Investment of $100,000 •5% annual appreciation •Most expensive combination of Base Contract Charges, optional benefits, and Portfolio fees and expenses •No sales charges •No additional purchase payments, transfers or withdrawals |
|
|
RISKS |
LOCATION IN
PROSPECTUS |
Risk of Loss |
You can lose money by investing in this policy. |
PRINCIPAL RISKS |
Not a Short-Term
Investment |
This policy is not designed for short-term investing and is not
appropriate for an investor who readily needs access to cash.
Surrender charges apply for up to the first nine Policy Years. They will
reduce the value of your policy if you withdraw money during that time.
The benefits of tax deferral and living benefit protections also
mean the policy is more beneficial to investors with a long time
horizon. |
PRINCIPAL RISKS |
Risks Associated
with Investment
Options |
•An investment in this policy is subject to the risk of poor investment performance and can vary depending on the performance of the variable investment options (e.g., Portfolios) and guaranteed options (e.g., the Fixed Account and DCA Advantage Account) you choose. •Each investment option has its own unique risks. •You should review the prospectuses for the available Portfolios and the description in this prospectus of the Fixed Account and the DCA Advantage Account before making an investment decision. |
PRINCIPAL RISKS |
Insurance
Company
Risks |
An investment in the policy is subject to the risks related to NYLIAC,
including that any obligations, guarantees, and benefits of the policy
are subject to the claims-paying ability of NYLIAC. If NYLIAC
experiences financial distress, it may not be able to meet its
obligations to you. More information about NYLIAC is available upon
request from NYLIAC by calling the VPSC at 1-800-598-2019. |
PRINCIPAL RISKS |
|
RESTRICTIONS |
LOCATION IN
PROSPECTUS |
Investments |
•We limit the number of Investment Divisions you may choose. You may allocate premium payments to up to 18 separate Investment Divisions, plus the Fixed Account, some of which may not be available under your policy. •We reserve the right to charge $30 for each transfer when you transfer money between Investment Divisions in excess of 12 times in a Policy Year. •We reserve the right to limit transfers in circumstances of frequent
transfers or to prevent market timing. •We reserve the right to remove, close, or substitute Portfolios as investment options that are available under the policy. |
THE
POLICIES—Policy
Application and
Premium Payments,
Transfers, and
Limits on Transfers NYLIAC AND THE
SEPARATE
ACCOUNTS— Additions, Deletions, or Substitutions of Investments |
Optional Benefits |
•Certain optional benefits may limit withdrawals or other rights under the policy. •Under certain benefits, a withdrawal could reduce the value of a
benefit by more than the dollar amount of the withdrawal. •You are required to have a minimum Accumulation Value for some optional benefits. •We may modify or discontinue an optional benefit at any time. •Some optional benefits cannot be cancelled without surrendering your policy. |
DESCRIPTION OF
BENEFITS |
|
TAXES |
LOCATION IN
PROSPECTUS |
Tax
Implications |
•Consult with a tax professional to determine the tax implications of an investment in, withdrawals from and surrenders of this policy. •If you purchase the policy through a tax-qualified plan or individual retirement account (IRA), such plan or IRA already provides tax deferral under the Code and there are fees and charges in an annuity that may not be included in such other investments. Therefore, the tax deferral of the annuity does not provide additional benefits. •Premiums that are made on a pre-tax basis as well as earnings on your policy are taxed at ordinary income tax rates when you withdraw them, and you may have to pay a 10% penalty tax if you take a withdrawal before age 59½. |
FEDERAL TAX
MATTERS |
|
CONFLICTS OF INTEREST |
LOCATION IN
PROSPECTUS |
Investment
Professional
Compensation |
Your registered representative may receive compensation for selling
this policy to you, in the form of commissions, asset-based
compensation, allowances for expenses, and other compensation
programs. Your registered representative may have a financial incentive
to offer or recommend this policy over another
investment. |
DISTRIBUTION AND COMPENSATION ARRANGEMENTS |
Exchanges |
Your registered representative may have a financial incentive to offer you a new policy in place of the one you own. You should consider exchanging your policy if you determine, after comparing the features, fees, and risks of both policies, that it is in your best interest to purchase the new policy rather than continue to own your existing policy. |
THE POLICIES – Tax-Free Section 1035 Exchanges |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Large Cap Equity |
MainStay VP American Century Sustainable
Equity — Service Class Adviser: New York Life Investment Management LLC (“New York Life
Investments”) /
Subadviser: American Century Investment Management, Inc. |
0.92% |
24.08% |
12.66% |
8.46% |
Asset Allocation |
MainStay VP Balanced — Service Class Adviser: New York Life Investments /
Subadviser: NYL Investors LLC (“NYL Investors”) and Wellington Management Company LLP (“Wellington”) |
0.95% |
7.28% |
8.15% |
5.90% |
Investment
Grade Bond |
MainStay VP Bond — Service Class Adviser: New York Life Investments /
Subadviser: NYL Investors |
0.77% |
5.31% |
0.71% |
1.45% |
International/Global
Equity |
MainStay VP Candriam Emerging Markets
Equity — Service Class+ Adviser: New York Life Investments /
Subadviser: Candriam |
1.39% |
6.98% |
2.24% |
(0.17)% |
Sector |
MainStay VP CBRE Global Infrastructure —
Service Class Adviser: New York Life Investments /
Subadviser: CBRE Investment Management Listed Real Assets LLC |
1.20% |
3.80% |
0.46% |
(2.84)% |
Asset Allocation |
MainStay VP Conservative Allocation — Service
Class Adviser: New York Life Investments |
0.73% |
10.02% |
5.38% |
3.82% |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Large Cap Equity |
MainStay VP Epoch U.S. Equity Yield — Service
Class Adviser: New York Life Investments /
Subadviser: Epoch Investment Partners, Inc. (“Epoch”) |
0.93% |
8.42% |
9.82% |
6.91% |
Asset Allocation |
MainStay VP Equity Allocation — Service Class Adviser: New York Life Investments |
0.86% |
17.10% |
10.45% |
6.62% |
Sector |
MainStay VP Fidelity Institutional AM®
Utilities — Service Class Adviser: New York Life Investments /
Subadviser: FIAM LLC (“FIAM”) |
0.92% |
(1.71)% |
8.14% |
6.15% |
Non-Investment
Grade Bond |
MainStay VP Floating Rate — Service Class Adviser: New York Life Investments /
Subadviser: NYL Investors |
0.89% |
11.58% |
4.69% |
3.54% |
Asset Allocation |
MainStay VP Growth Allocation — Service
Class Adviser: New York Life Investments |
0.82% |
15.20% |
9.20% |
5.96% |
Alternatives |
MainStay VP Hedge Multi-Strategy (formerly
MainStay VP IQ Hedge Multi-Strategy) —
Service Class Adviser: New York Life Investments /
Subadviser: IndexIQ Advisors LLC (“IndexIQ”) |
1.32% |
9.98% |
2.53% |
(1.67)% |
Asset Allocation |
MainStay VP Income Builder — Service Class Adviser: New York Life Investments /
Subadvisers: Epoch and MacKay Shields LLC (“MacKay”) |
0.87% |
9.78% |
5.78% |
4.75% |
Asset Allocation |
MainStay VP Janus Henderson Balanced —
Service Class Adviser: New York Life Investments /
Subadviser: Janus Henderson Investors US LLC (“Janus Henderson”) |
0.82% |
15.23% |
9.48% |
7.78% |
Non-Investment
Grade Bond |
MainStay VP MacKay Convertible — Service
Class Adviser: New York Life Investments /
Subadviser: MacKay |
0.83% |
8.58% |
11.31% |
8.23% |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Non-Investment
Grade Bond |
MainStay VP MacKay High Yield Corporate
Bond — Service Class Adviser: New York Life Investments /
Subadviser: MacKay |
0.83% |
11.59% |
5.04% |
4.47% |
Non-Investment
Grade Bond |
MainStay VP MacKay Strategic Bond — Service
Class Adviser: New York Life Investments /
Subadviser: MacKay |
0.87% |
9.92% |
3.18% |
2.49% |
Investment
Grade Bond |
MainStay VP MacKay U.S. Infrastructure Bond
(formerly MainStay VP MacKay Government) —
Service Class Adviser: New York Life Investments /
Subadviser: MacKay |
0.81% |
4.74% |
0.05% |
0.72% |
Asset Allocation |
MainStay VP Moderate Allocation — Service
Class Adviser: New York Life Investments |
0.76% |
12.73% |
7.20% |
4.90% |
Sector |
MainStay VP Natural Resources — Initial Class Adviser: New York Life Investments /
Subadviser: Newton Investment Management North America, LLC ("NIMNA") |
0.84% |
1.92% |
18.96% |
2.79% |
Investment
Grade Bond |
MainStay VP PIMCO Real Return — Service
Class Adviser: New York Life Investments /
Subadviser: Pacific Investment Management Company LLC (“PIMCO”) |
1.03% |
3.46% |
3.08% |
2.01% |
International/Global
Equity |
MainStay VP PineStone International Equity
(formerly MainStay VP MacKay International
Equity) — Service Class Adviser: New York Life Investments /
Subadviser: PineStone Asset Management Inc. |
1.11% |
4.01% |
5.10% |
3.85% |
Large Cap Equity |
MainStay VP S&P 500 Index — Service Class Adviser: New York Life Investments /
Subadviser: IndexIQ |
0.37% |
25.83% |
15.25% |
11.53% |
Small/Mid Cap
Equity |
MainStay VP Small Cap Growth — Service
Class Adviser: New York Life Investments /
Subadvisers: Brown Advisory, LLC and Segall Bryant & Hamill, LLC |
1.10% |
15.22% |
10.29% |
7.26% |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Money Market |
MainStay VP U.S. Government Money Market —
Initial Class Adviser: New York Life Investments /
Subadviser: NYL Investors |
0.28% |
4.81% |
1.61% |
0.99% |
Large Cap Equity |
MainStay VP Wellington Growth — Service
Class+ Adviser: New York Life Investments /
Subadviser: Wellington |
0.97% |
38.26% |
13.51% |
10.05% |
Small/Mid Cap
Equity |
MainStay VP Wellington Mid Cap — Service
Class Adviser: New York Life Investments /
Subadviser: Wellington |
1.11% |
13.41% |
7.93% |
6.39% |
Small/Mid Cap
Equity |
MainStay VP Wellington Small Cap — Service
Class Adviser: New York Life Investments /
Subadviser: Wellington |
0.99% |
13.60% |
6.42% |
5.99% |
Large Cap Equity |
MainStay VP Wellington U.S. Equity — Service
Class Adviser: New York Life Investments /
Subadviser: Wellington |
0.81% |
24.27% |
12.88% |
10.19% |
Large Cap Equity |
MainStay VP Winslow Large Cap Growth —
Service Class Adviser: New York Life Investments
/ Subadviser: Winslow Capital Management, LLC |
0.99% |
42.70% |
17.29% |
13.18% |
Large Cap Equity |
AB VPS Relative Value Portfolio — Class B Adviser: AllianceBernstein L.P. |
0.86% |
11.72% |
11.57% |
9.05% |
Asset Allocation |
American Funds IS Asset Allocation Fund —
Class 4 Adviser: Capital Research and Management CompanySM (“CRMC”) |
0.80% |
14.02% |
8.92% |
6.98% |
Investment Grade
Bond |
American Funds IS The Bond Fund of America®
— Class 4 Adviser: CRMC |
0.73% |
4.72% |
1.62% |
1.83% |
Investment
Grade Bond |
American Funds IS Capital World Bond Fund®
— Class 4 Adviser: CRMC |
0.98% |
5.89% |
(0.56)% |
0.12% |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
International/Global
Equity |
American Funds IS Global Small Capitalization
Fund — Class 4 Adviser: CRMC |
1.16% |
15.79% |
8.03% |
5.51% |
Large Cap Equity |
American Funds IS Growth Fund — Class 4 Adviser: CRMC |
0.84% |
38.13% |
18.38% |
14.07% |
International/Global
Equity |
American Funds IS New World Fund® — Class
4 Adviser: CRMC |
1.07% |
15.67% |
8.37% |
4.43% |
Investment
Grade Bond |
American Funds IS U.S. Government Securities
Fund® — Class 4 Adviser: CRMC |
0.76% |
2.62% |
0.79% |
1.27% |
Large Cap Equity |
American Funds IS Washington Mutual Investors
FundSM — Class 4 Adviser: CRMC |
0.77% |
16.97% |
12.33% |
9.64% |
Asset Allocation |
BlackRock® Global Allocation V.I. Fund — Class
III Adviser: BlackRock Advisors, LLC (“BlackRock”) / Subadvisers: BlackRock (Singapore) Limited
and BlackRock International Limited
|
1.02% |
12.49% |
7.39% |
4.63% |
Non-Investment
Grade Bond |
BlackRock® High Yield V.I. Fund — Class
III Adviser: BlackRock / Subadviser: BlackRock
International Limited |
0.79% |
12.94% |
5.49% |
4.21% |
Sector |
BNY Mellon IP Technology Growth Portfolio —
Service Shares Adviser: BNY Mellon Investment Adviser, Inc. /
Subadviser: NIMNA |
1.03% |
59.00% |
15.31% |
12.94% |
Large Cap Equity |
BNY Mellon Sustainable U.S. Equity Portfolio —
Service Shares Adviser: BNY Mellon Investment Adviser, Inc. /
Subadviser: Newton Investment Management Limited |
0.92% |
23.50% |
14.85% |
10.18% |
Large Cap Equity |
ClearBridge Variable Appreciation Portfolio —
Class II Adviser: Franklin Templeton Fund Adviser, LLC ("FTFA") / Subadviser: ClearBridge Investments, LLC |
0.97% |
19.39% |
13.79% |
N/A |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Sector |
Columbia Variable Portfolio — Commodity
Strategy Fund — Class 2++ Adviser: Columbia Management Investment Advisers, LLC (“Columbia”) / Subadviser:
Threadneedle International Limited
|
1.01% |
(7.14)% |
9.08% |
(0.97)% |
Non-Investment
Grade Bond |
Columbia Variable Portfolio — Emerging
Markets Bond Fund — Class 2 Adviser: Columbia |
1.00% |
10.02% |
1.57% |
2.20% |
Investment Grade
Bond |
Columbia Variable Portfolio — Intermediate
Bond Fund — Class 2 Adviser: Columbia |
0.76% |
5.96% |
1.34% |
1.99% |
Small/Mid Cap
Equity |
Columbia Variable Portfolio — Small Cap Value
Fund — Class 2 Adviser: Columbia |
1.11% |
21.67% |
13.39% |
8.40% |
Alternatives |
DWS Alternative Asset Allocation VIP — Class
B Adviser: DWS Investment Management Americas Inc. / Subadviser: RREEF America LLC |
1.21% |
5.67% |
5.70% |
2.63% |
Investment
Grade Bond |
Fidelity® VIP Bond Index Portfolio — Service
Class 2 Adviser: Fidelity Management & Research Company LLC (“FMR”) / Subadvisers:
Other investment advisers |
0.39% |
5.13% |
0.64% |
N/A |
Large Cap Equity |
Fidelity® VIP ContrafundSM Portfolio — Service
Class 2 Adviser: FMR / Subadvisers: Other investment advisers |
0.81% |
33.12% |
16.36% |
11.33% |
International/Global
Equity |
Fidelity® VIP Emerging Markets Portfolio —
Service Class 2 Adviser: FMR / Subadvisers: Other investment advisers |
1.14% |
9.49% |
7.55% |
4.92% |
Large Cap Equity |
Fidelity® VIP Equity-Income PortfolioSM —
Service Class 2 Adviser: FMR / Subadvisers: Other investment advisers |
0.72% |
10.38% |
12.01% |
8.31% |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Small/Mid Cap
Equity |
Fidelity® VIP Extended Market Index Portfolio —
Service Class 2 Adviser: FMR / Subadviser: Geode Capital Management, LLC (“Geode”) |
0.38% |
17.11% |
11.02% |
N/A |
Asset Allocation |
Fidelity® VIP FundsManager® 60% Portfolio —
Service Class Adviser: FMR |
0.71% |
14.17% |
8.61% |
6.26% |
Large Cap Equity |
Fidelity® VIP Growth Opportunities Portfolio —
Service Class 2 Adviser: FMR / Subadvisers: Other investment advisers |
0.84% |
45.30% |
18.79% |
15.44% |
Sector |
Fidelity® VIP Health Care Portfolio — Service
Class 2 Adviser: FMR / Subadvisers: Other investment advisers |
0.84% |
4.01% |
9.50% |
10.39% |
International/Global
Equity |
Fidelity® VIP International Index Portfolio —
Service Class 2 Adviser: FMR / Subadviser: Geode |
0.42% |
15.88% |
6.89% |
N/A |
Investment Grade
Bond |
Fidelity® VIP Investment Grade Bond
Portfolio — Service Class 2 Adviser: FMR / Subadvisers: Other investment advisers |
0.63% |
6.00% |
1.72% |
2.08% |
Small/Mid Cap
Equity |
Fidelity® VIP Mid Cap Portfolio — Service Class
2 Adviser: FMR / Subadvisers: Other investment advisers |
0.82% |
14.80% |
12.17% |
7.85% |
Asset Allocation |
Franklin Templeton Aggressive Model
Portfolio — Class II Adviser: FTFA / Subadviser: Franklin Advisers, Inc. (“Franklin Advisers”) |
0.91% |
18.05% |
N/A |
N/A |
Asset Allocation |
Franklin Templeton Moderately Aggressive
Model Portfolio — Class II Adviser: FTFA / Subadviser: Franklin Advisers |
0.88% |
15.53% |
N/A |
N/A |
Asset Allocation |
Franklin Templeton Moderate Model Portfolio —
Class II Adviser: FTFA / Subadviser: Franklin Advisers |
0.85% |
13.18% |
N/A |
N/A |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Asset Allocation |
Franklin Templeton Moderately Conservative
Model Portfolio — Class II Adviser: FTFA / Subadviser: Franklin Advisers |
0.85% |
10.31% |
N/A |
N/A |
Asset Allocation |
Franklin Templeton Conservative Model
Portfolio — Class II Adviser: FTFA / Subadviser: Franklin Advisers |
0.89% |
8.31% |
N/A |
N/A |
International/Global
Equity |
Invesco V.I. EQV International Equity Fund —
Series II Shares Adviser: Invesco Advisers, Inc. (“Invesco”) |
1.15% |
17.86% |
8.15% |
4.07% |
Small/Mid Cap
Equity |
Invesco V.I. Main Street Small Cap Fund® —
Series II Shares Adviser: Invesco |
1.13% |
17.82% |
12.79% |
8.66% |
Small/Mid Cap
Equity |
Janus Henderson Enterprise Portfolio — Service
Shares Adviser: Janus Henderson |
0.97% |
17.78% |
13.14% |
11.82% |
International/Global
Equity |
Janus Henderson Global Research Portfolio —
Service Shares Adviser: Janus Henderson |
0.86% |
26.47% |
13.05% |
8.74% |
Small/Mid Cap
Equity |
Macquarie VIP Small Cap Value Series
(formerly Delaware VIP® Small Cap Value
Series) — Service Class Adviser: Delaware Management Company, a series of Macquarie Investment Management Business Trust (a Delaware statutory trust) |
1.08% |
9.10% |
9.87% |
6.77% |
International Equity |
MFS® International Intrinsic Value Portfolio —
Service Class Adviser: Massachusetts Financial Services Company (“MFS”) |
1.14% |
17.37% |
8.31% |
6.66% |
Large Cap Equity |
MFS® Investors Trust Series — Service
Class Adviser: MFS |
1.03% |
18.66% |
13.27% |
10.00% |
Mid Cap
Equity |
MFS® Mid Cap Value Portfolio — Service
Class Adviser: MFS |
1.04% |
12.39% |
12.60% |
8.46% |
International/Global
Equity |
MFS® Research International Portfolio —
Service Class Adviser: MFS |
1.14% |
12.83% |
8.23% |
3.89% |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Large Cap Equity |
MFS® Research Series — Service Class
Adviser: MFS |
1.04% |
22.12% |
14.13% |
10.55% |
Sector |
Morgan Stanley VIF U.S. Real Estate Portfolio —
Class II Adviser: Morgan Stanley Investment Management Inc. |
1.05% |
14.22% |
2.66% |
4.26% |
Small/Mid Cap
Equity |
Neuberger Berman AMT Mid Cap Growth
Portfolio — Class S Adviser: Neuberger Berman Investment Advisers LLC |
1.11% |
17.96% |
11.86% |
8.69% |
Investment
Grade Bond |
PIMCO VIT Income Portfolio — Advisor Class Adviser: PIMCO |
1.13% |
8.14% |
3.22% |
N/A |
Investment
Grade Bond |
PIMCO VIT International Bond Portfolio (U.S.
Dollar-Hedged) — Advisor Class Adviser: PIMCO |
1.38% |
8.91% |
1.54% |
N/A |
Investment
Grade Bond |
PIMCO VIT Low Duration Portfolio — Advisor
Class Adviser: PIMCO |
0.79% |
4.87% |
0.88% |
0.82% |
Investment
Grade Bond |
PIMCO VIT Short-Term Portfolio — Advisor
Class Adviser: PIMCO |
0.76% |
5.80% |
2.02% |
1.76% |
Investment
Grade Bond |
PIMCO VIT Total Return Portfolio — Advisor
Class Adviser: PIMCO |
0.85% |
5.83% |
0.98% |
1.60% |
Sector |
Principal VC Real Estate Securities Account —
Class 2 Adviser: Principal Global Investors, LLC /
Subadviser: Principal Real Estate Investors, LLC |
1.04% |
13.01% |
8.24% |
8.44% |
International/Global
Equity |
Putnam VT International Value Fund — Class IB Adviser: Putnam Investment Management, LLC /
Subadvisers: Putnam Investments Limited and The Putnam Advisory Company, LLC |
1.13% |
18.68% |
9.70% |
3.88% |
Large Cap Equity |
Voya Growth and Income Portfolio — Class S Adviser: Voya Investments, LLC / Subadviser:
Voya Investment Management Co. LLC |
0.92% |
27.06% |
15.90% |
11.02% |
Type |
Portfolio
Adviser/Sub-adviser |
Current
Expenses* |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 year |
10 year | |||
Investment
Grade Bond |
Western Asset Core Plus VIT Portfolio — Class
II Adviser: FTFA / Subadvisers: Western Asset Management Company, LLC; Western Asset Management Company Limited in London; Western Asset Management Company Pte. Ltd. in Singapore; and Western Asset Management Company Ltd. in Japan |
0.76% |
6.44% |
0.98% |
N/A |