*ILLUSTORIG 01*

ILLUSTORIG 01

Life Insurance Illustration

New York Life Custom Whole Life

Insurance Basic Illustration
(Whole Life with 11 Year Premium Paying Period)
Including Supplemental Life Insurance for Retirement Income Planning
Supplemental Illustration

Prepared for:

Ardal's Client
Issued by:
New York Life Insurance Company
51 Madison Avenue
New York, NY 10010

Prepared by:
ARDAL POWELL MA, PhD
Agent, New York Life Insurance Company
460 TEMPLE HILL ROAD
NEW WINDSOR, NY 12553-5510

Contact Information:
Preferred: (845) 202-9722
E-Mail: apowell03@ft.newyorklife.com

Prepared on:
March 22, 2017

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 1 of 31
 *ILLUSTORIG 02*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Supplemental Illustration
ILLUSTORIG 02

Supplemental Life Insurance for Retirement Income

Planning
Permanent Life Insurance
First and foremost life insurance is a means of protecting your loved ones. However,
in addition to a Death Benefit, permanent life insurance also accumulates cash value
which can be used as a living benefit to provide income.

Life Insurance as a Living Benefit Retirement Income

Planning1
If you are like most people you are probably concerned about whether or not you will
have adequate income in retirement. Permanent life insurance can be a way of
providing a supplemental income during your retirement years, and in the meantime
provide financial protection to your family or business in the event of your death.

1
This material includes a discussion of one or more tax-related topics. This tax-related discussion was prepared to assist in the
promotion or marketing of the transactions or matters addressed in this material. The tax-related discussion is not intended (and
cannot be used by any taxpayer) for the purpose of avoiding any IRS penalties which may be imposed upon the taxpayer.
Taxpayers should always seek and rely on the advice of their own independent tax professionals. New York Life Insurance
Company, its affiliates and subsidiaries, and Agents and employees may not provide legal or tax advice.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 2 of 31
 *ILLUSTORIG 03*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Supplemental Illustration
ILLUSTORIG 03

Supplemental Life Insurance for Retirement Income

Planning (cont.)
Think about it. If you've
What this can mean already made smart

for you*. decisions like saving and

investing, consider how
your permanent life
insurance can potentially
Cumulative premium through age 70:
supplement your future
$182,820 retirement income and
may give you more
Gross retirement income from loans and surrenders:
control over your future.
$27,948 for 19 years If you're ready to get
started, we are too.
Total cumulative after tax retirement income:

$531,012
($27,948 for 19 years)

Remaining death benefit after loans and surrenders**:

$171,726

*These values are based upon the information and assumptions contained in the Supplemental Life Insurance for Retirement
Income Planning Input Summary and Illustration.
**This is the net amount of death benefit that is still remaining after receiving the retirement income from the policy.

Key things to consider.

Your policys death benefit is generally paid to your beneficiary income tax-free.

The cash value accumulation in your permanent life insurance policy grows tax-
deferred.

You generally have tax-free access to your policy cash value, and can use partial
surrenders and policy loans to supplement your retirement income^.

^
See Important Notes and Disclosures page for important tax assumptions and considerations.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 3 of 31
 *ILLUSTORIG 04*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Supplemental Illustration
ILLUSTORIG 04

Supplemental Life Insurance for Retirement Income

Planning (cont.)
Important Notes and Disclosures
This material includes a discussion of one or more tax-related topics. This tax related discussion was prepared
to assist in the promotion or marketing of the transactions or matters addressed in this material. The tax-
related discussion is not intended (and cannot be used by any taxpayer) for the purpose of avoiding any IRS
penalties which may be imposed upon the taxpayer. Taxpayers should always seek and rely on the advice of
their own independent tax professionals. New York Life Insurance Company, its affiliates and subsidiaries, and
Agents and employees may not provide legal or tax advice.

When too much premium is contributed to a life insurance policy, a policy may be characterized as a MEC under
applicable federal tax rules. Under these rules, loans and partial surrenders from a MEC are taxed to the extent
of any gain in the policy. In addition, a 10 percent penalty tax may apply if you are under age 59 and . For
this reason, if you anticipate using your policy to provide an income stream in the future, you should ensure
that your payment of premiums and any other transactions with respect to your policy do not cause your policy
to become a MEC. Talk to your tax advisor for further details.

If a policy is not a Modified Endowment Contract (MEC), then loans generally are not taxable and a partial
surrender from the policy generally is taxable only to the extent that it exceeds the total investment in the
policy. However, certain partial surrenders made within the first 15 years after a policy is issued may be fully
or partially taxable. If a policy is a MEC, then partial withdrawals and loans are taxable to the extent of the
gain in the policy and, if the policyowner is under age 59 , may also be subject to a 10% penalty tax.
Taxable distributions from a policy would be taxed as ordinary income.

You can access the cash value in your policy via partial surrenders and policy loans which reduce the policys
cash value and death benefit. Loans also accrue interest.

Assuming your policy is not a MEC, once the distributions youve received from surrenders equal your policys
cost basis, further income can be generated by taking loans against the policy's remaining cash value. Interest
will be at current rates and added to the amount of the loan if not paid. Taking loans may provide for a federal
income tax-free income stream but will reduce the death benefit and cash value of the policy. Since these
policy values include non-guaranteed elements, the income stream funded by these policy values is not
guaranteed. Any outstanding loans (including interest) on a policy that has lapsed or is surrendered prior to
death will be considered income to the extent of gain in your policy and will be taxable to you. This is an
important consideration in deciding whether to take policy loans. Talk to your tax advisor.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 4 of 31
 *ILLUSTORIG 05*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Supplemental Illustration
ILLUSTORIG 05

Supplemental Life Insurance for Retirement Income

Planning Input Summary

RETIREMENT INFORMATION
Retirement Age: 65
Pre-Retirement Tax Rate: 28.00%
Post-Retirement Tax Rate: 28.00%

PARTIAL SURRENDER INFORMATION*

Cash Value of Partial Surrender: Calculated
Surrender Mode: Annual
Age at First Partial Surrender: 71

POLICY LOAN INFORMATION*

Loan Amount: Calculated
Loan Withdrawal Mode: Annual
Loan Interest Rate: 5.00% until the policy anniversary on which the insured reaches age 100, 4.00% thereafter
Loan Interest Option: Accrue Interest
Age at First Loan: 77

*Refer to the Access to Policy Values section of the Narrative Summary page for more information, and to the
Supplemental Illustration of Cash Flows page for illustrative details.

KEY TERMS

Please refer to the Narrative Summary for general information and key terms. Additional Column definitions
unique to the Supplemental Life Insurance for Retirement Income Planning ledger:

Surrenders and Loans for Income: The sum of any amount resulting from the surrender of paid up additional
insurance from the policy plus any amount loaned from the policy to provide retirement income.

Income Tax Payable: The federal income tax payable, if applicable, on the amount withdrawn or loaned each year,
assuming an initial post-retirement federal income tax rate of 28.00%. This is based on tax rate assumptions you
have provided. At the time of your distributions, your individual circumstances may vary from these assumptions.
Please talk to your tax advisor for further details and analysis.

After Tax Retirement Income: The net amount available after tax, of any withdrawal or loan, to provide retirement
income.

Cumulative After Tax Retirement Income: The sum of the current years After Tax Retirement Income amount, plus
all prior years After Tax Retirement Income amounts.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 5 of 31
 *ILLUSTORIG 06*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Supplemental Illustration
ILLUSTORIG 06

Supplemental Life Insurance for Retirement Income

Planning Supplemental Illustration
Base Policy Face Amount: $250,000 Premium Mode: Annual
Initial Death Benefit Amount: $372,734 Dividend Option: Paid Up Additions
Premium Paying Period: 11

Policy Values Supplemental Life Insurance for Retirement Income

Policy Costs Non-Guaranteed Current Non-Guaranteed Current
Cumulative
Cumulative Cash Death Surrenders Income After Tax After Tax
End of Premium Premium Surrender Benefit and Loans for Tax Retirement Retirement
Year Age Outlay Outlay Value (BOY) Income Payable Income Income
1 50 16,620 16,620 4,823 372,734 0 0 0 0
2 51 16,620 33,240 18,708 372,734 0 0 0 0
3 52 16,620 49,860 33,504 375,463 0 0 0 0
4 53 16,620 66,480 49,353 379,433 0 0 0 0
5 54 16,620 83,100 66,175 384,890 0 0 0 0

6 55 16,620 99,720 84,135 391,408 0 0 0 0

7 56 16,620 116,340 103,300 399,279 0 0 0 0
8 57 16,620 132,960 123,757 408,467 0 0 0 0
9 58 16,620 149,580 145,332 419,013 0 0 0 0
10 59 16,620 166,200 168,308 430,272 0 0 0 0

11 60 16,620 182,820 193,930 442,783 0 0 0 0

12 61 0 182,820 206,668 459,224 0 0 0 0
13 62 0 182,820 219,902 475,634 0 0 0 0
14 63 0 182,820 233,651 492,039 0 0 0 0
15 64 0 182,820 248,020 508,455 0 0 0 0

16 65 0 182,820 263,250 525,067 0 0 0 0

17 66 0 182,820 279,252 542,336 0 0 0 0
18 67 0 182,820 296,036 560,028 0 0 0 0
19 68 0 182,820 313,626 578,116 0 0 0 0
20 69 0 182,820 332,030 596,599 0 0 0 0

21 70 0 182,820 351,285 615,463 0 0 0 0

22 71 0 182,820 342,068 584,242 27,948 0 27,948 27,948
23 72 0 182,820 332,273 553,505 27,948 0 27,948 55,896
24 73 0 182,820 321,896 523,191 27,948 0 27,948 83,844
25 74 0 182,820 310,946 493,276 27,948 0 27,948 111,792

26 75 0 182,820 299,378 463,778 27,948 0 27,948 139,740

27 76 0 182,820 287,252 434,614 27,948 0 27,948 167,688
28 77 0 182,820 274,510 413,118 27,948 0 27,948 195,636
29 78 0 182,820 261,065 399,424 27,948 0 27,948 223,584
30 79 0 182,820 246,882 384,750 27,948 0 27,948 251,532
Reflects non-guaranteed values and benefits which are based on assumptions that are subject to change by the insurer; therefore, actual results may
be more or less favorable.
This is a supplemental illustration which is not valid without the attached basic illustration. Refer to the basic illustration for guaranteed values and
benefits and other important information.
Please see the End Notes at the end of this ledger for important information.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 6 of 31
 *ILLUSTORIG 07*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Supplemental Illustration
ILLUSTORIG 07

Supplemental Life Insurance for Retirement Income

Planning Supplemental Illustration (cont.)

Policy Values Supplemental Life Insurance for Retirement Income

Policy Costs Non-Guaranteed Current Non-Guaranteed Current
Cumulative
Cumulative Cash Death Surrenders Income After Tax After Tax
End of Premium Premium Surrender Benefit and Loans for Tax Retirement Retirement
Year Age Outlay Outlay Value (BOY) Income Payable Income Income

31 80 0 182,820 231,632 369,051 27,948 0 27,948 279,480

32 81 0 182,820 215,459 351,887 27,948 0 27,948 307,428
33 82 0 182,820 198,352 333,468 27,948 0 27,948 335,376
34 83 0 182,820 180,249 314,050 27,948 0 27,948 363,324
35 84 0 182,820 161,083 293,593 27,948 0 27,948 391,272

36 85 0 182,820 140,774 271,952 27,948 0 27,948 419,220

37 86 0 182,820 119,244 249,053 27,948 0 27,948 447,168
38 87 0 182,820 96,350 224,848 27,948 0 27,948 475,116
39 88 0 182,820 71,972 198,959 27,948 0 27,948 503,064
40 89 0 182,820 45,947 171,726 27,948 0 27,948 531,012

41 90& 0 182,820 47,419 170,922 0 0 0 531,012

42 91 0 182,820 48,447 169,804 0 0 0 531,012
43 92 0 182,820 49,558 168,133 0 0 0 531,012
44 93 0 182,820 50,289 165,504 0 0 0 531,012
45 94 0 182,820 50,483 161,942 0 0 0 531,012

46 95 0 182,820 49,914 157,777 0 0 0 531,012

47 96 0 182,820 48,096 153,180 0 0 0 531,012
48 97 0 182,820 45,426 148,239 0 0 0 531,012
49 98 0 182,820 41,333 143,317 0 0 0 531,012
50 99 0 182,820 37,469 138,127 0 0 0 531,012

51 100 0 182,820 33,214 131,706 0 0 0 531,012

52 101 0 182,820 36,568 124,156 0 0 0 531,012
53 102 0 182,820 39,820 124,141 0 0 0 531,012
54 103 0 182,820 42,947 123,913 0 0 0 531,012
55 104 0 182,820 45,949 123,501 0 0 0 531,012

56 105 0 182,820 48,809 122,965 0 0 0 531,012

57 106 0 182,820 51,426 122,387 0 0 0 531,012
58 107 0 182,820 53,857 121,813 0 0 0 531,012
59 108 0 182,820 56,103 121,266 0 0 0 531,012
60 109 0 182,820 58,211 120,755 0 0 0 531,012

61 110 0 182,820 60,121 120,241 0 0 0 531,012

Reflects non-guaranteed values and benefits which are based on assumptions that are subject to change by the insurer; therefore, actual results may
be more or less favorable.
This is a supplemental illustration which is not valid without the attached basic illustration. Refer to the basic illustration for guaranteed values and
benefits and other important information.

Please see the End Notes at the end of this ledger for important information.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 7 of 31
 *ILLUSTORIG 08*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Supplemental Illustration
ILLUSTORIG 08

Supplemental Life Insurance for Retirement Income

Planning Supplemental Illustration (cont.)

Policy Values Supplemental Life Insurance for Retirement Income

Policy Costs Non-Guaranteed Current Non-Guaranteed Current
Cumulative
Cumulative Cash Death Surrenders Income After Tax After Tax
End of Premium Premium Surrender Benefit and Loans for Tax Retirement Retirement
Year Age Outlay Outlay Value (BOY) Income Payable Income Income
62 111 0 182,820 61,737 119,733 0 0 0 531,012
63 112 0 182,820 63,150 119,250 0 0 0 531,012
64 113 0 182,820 64,385 118,782 0 0 0 531,012
65 114 0 182,820 66,241 118,266 0 0 0 531,012

66 115 0 182,820 67,864 117,635 0 0 0 531,012

67 116 0 182,820 69,556 117,132 0 0 0 531,012
68 117 0 182,820 71,479 116,702 0 0 0 531,012
69 118 0 182,820 73,268 116,393 0 0 0 531,012
70 119 0 182,820 75,383 116,310 0 0 0 531,012

71 120 0 182,820 77,567 116,514 0 0 0 531,012

72 121 0 182,820 112,321 115,445 0 0 0 531,012
Reflects non-guaranteed values and benefits which are based on assumptions that are subject to change by the insurer; therefore, actual results may
be more or less favorable.
This is a supplemental illustration which is not valid without the attached basic illustration. Refer to the basic illustration for guaranteed values and
benefits and other important information.

End Notes

This illustration depicts the use of a New York Life Custom Whole Life insurance policys Cash Surrender Value as a source of Supplemental Income for
Retirement purposes. The Cash Surrender Value can be accessed either through partial surrenders of paid-up insurance or policy loans. The Death
Benefit will be reduced by surrenders taken or loans not repaid.
Please refer to the Owner Actions Reflected In This Illustration page for an explanation of the Modified Endowment Contract status of the policy being
illustrated.
& Represents the insureds life expectancy added to the insureds age. See Additional Information section on the Narrative Summary page for more
information.
Unless noted above, values shown are based on our current illustrative dividend scale and our current OPP expense charge of 8.00%

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 8 of 31
 *ILLUSTORIG 09*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Basic Illustration
ILLUSTORIG 09

Illustration Input Summary

INSURED AND POLICYOWNER INFORMATION
Insured: Ardal's Client
Issue Age: 49
Date of Birth: 06/12/1968
Sex: Female
Underwriting Class: Select Preferred

State Issued In: New York

Owner: Insured
Owner Tax Rate: 28.00%

PREMIUM AND OTHER INFORMATION

Premium Mode: Annual
Modal Premium: $16,620.00
Premium Paying Period: 11
Dividend Option: Paid Up Additions

POLICY COMPONENTS
Coverage Rating Annual Semi-Annual Quarterly Check-O-
Matic
NYL Custom Whole Life Policy (213-50.13) $372,734 Select $16,332.55 $8,496.93 $4,334.63 $1,438.47
Preferred
Disability Waiver of Premium (208-225.13) Standard WP $287.45 $149.55 $76.29 $25.32
Rate

See the "Riders and Benefits" section on the "Narrative Summary" page for further information.

Illustrated Payment
PREMIUM SUMMARY Mode
Annual* Semi-Annual* Quarterly* Check-O-Matic*
Modal premium Based on payment
frequency
Required Premium (includes any rider
premiums): $16,620.00 $8,646.48 $4,410.92 $1,463.79
Annualized Premium Based on the
modal premium paid over 12 months
Required Premium (includes any rider
premiums): $16,620.00 $17,292.96 $17,643.68 $17,565.48
7 Pay MEC Limit (Modal premium): $18,539.73 $9,269.87 $4,634.93 $1,544.98
Maximum OPP to avoid a MEC (Modal
premium): $1,919.73 $623.39 $224.01 $81.19

*If you pay your premium other than annually, the total premium you pay each year will be more than the Annual
Premium.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 9 of 31
 *ILLUSTORIG 10*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Basic Illustration
ILLUSTORIG 10

Illustration Input Summary (cont.)

PARTIAL SURRENDER INFORMATION*

Cash Value of Partial Surrender: Calculated

Surrender Mode: Annual
Age at First Partial Surrender: 71

POLICY LOAN INFORMATION*

Loan Amount: Calculated

Loan Withdrawal Mode: Annual
Loan Interest Rate*: 5.00% until the policy anniversary on which the insured reaches age 100, 4.00% thereafter
Loan Interest Option: Accrue Interest
Age at First Loan: 77

*Refer to the Access to Policy Values section of the Narrative Summary page for more information, and to the
Supplemental Illustration of Cash Flows page for illustrative details.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 10 of 31

New York Life Insurance Company
New York Life Custom Whole Life Insurance
Basic Illustration
Narrative Summary
About Your Illustration
This illustration explains the
important features of New York
Life's Custom Whole Life
insurance policy. This
illustration can help you
understand how this policy
works and how it can fit into
your plans. It reflects the
information shown in the
Illustration Input Summary.
This illustration may summarize
some of the terms and
conditions in your policy, but it
is not part of your contract.
The terms and conditions are
as stated in your policy.
Understanding Your Illustration
The following illustration provides a
summary and year by year figures for
Required Premiums, cash values and
death benefits about the Individual
Custom Whole Life policy you have
chosen. This is a participating policy that
is eligible to receive dividends. Many of
the values contained in this illustration
depend on the level of dividends we pay.
As you read through your illustration, it is
important for you to keep in mind that
dividends are not guaranteed, and the
actual dividends your policy receives may
be higher or lower than those illustrated
here. Your illustration consists of a basic
illustration, and may contain one or more
supplemental illustrations as well.
Basic Illustration
The basic illustration consists of this
Narrative Summary, an Illustration
Summary page, and a Yearly Detail page.
The Narrative Summary contains
definitions of key terms as well as an
explanation of your policys features and
benefits.
This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291)
*ILLUSTORIG 11*
The Illustration Summary page that
follows provides an overview of the
policy's Yearly Guaranteed Premium, the
anticipated Premium Outlay, cash value
and death benefit. These values show
how your policy would perform based on
the following: 1) the guaranteed policy
values, i.e., zero dividends, 2) our
currently illustrated dividends, and 3) a
scenario assuming 50% of our currently
illustrated dividends.
The Yearly Detail page shows guaranteed
and non-guaranteed current death benefit
and cash values in all policy years.
Supplemental Illustrations
Your illustration also includes one or more
supplemental illustrations which will show
your policy's values using only the
Company's currently illustrated dividends
unless otherwise stated. These
supplemental pages are intended to
illustrate your policys performance if you
elect to use its optional features, such as
adding or dropping a rider, exercising a
rider in the future, or accessing your living
benefits via policy loans or partial
surrenders.
How The Policy Works
This Custom Whole Life Insurance policy
provides a death benefit that is
guaranteed for as long as the policy
remains in force. The premium amount
you pay for the base Custom Whole Life
Insurance policy is also guaranteed. It
will not increase as long as the policy
remains in force. In addition, this policy
builds guaranteed cash value and is
eligible to receive dividends as described
in the Key Terms and Column Heading
Definitions section.
ILLUSTORIG 11
Key Terms and Column
Heading Definitions
Age
This is the insurance age, as defined in
your policy, of the insured at the end of
the policy year.
Annual Policy Cash Flow
The illustrated net out-of-pocket cost
each policy year. It reflects the out-of-
pocket cash payment of the premium and
the repayment of any loan and/or loan
interest in cash, less
cash received from policy loans
and/or partial surrenders
dividends received as cash
dividends or partial surrenders used
to reduce premiums
Annual Tax & Penalty
The amount of projected tax and penalty
incurred each year based on the policys
cash flows and your illustrated tax
bracket.
Cash Surrender Value
This is the amount we will pay if the
policy is surrendered prior to the insureds
death. It reflects guaranteed cash value,
plus the cash value of paid up additional
insurance, plus dividend accumulations,
minus any loans and/or surrenders taken.
This figure is shown as of the end of the
policy year after the full value for that
year has been reached and any Dividend
has been credited to the policy.
Unpaid loan interest will be added to the
policys outstanding loan balance and will
further reduce the policys Cash Surrender
Value. If the total loan balance exceeds
the Cash Surrender Value, your policy
may lapse unless additional payments are
made. Surrendering the policy or
allowing it to lapse at that time may result
in taxable ordinary income being reported
to the policyowner and the IRS. If large
loans are taken, there may not be
sufficient Cash Surrender Value to cover
the potential tax payable to the IRS.
Page 11 of 31

New York Life Insurance Company
New York Life Custom Whole Life Insurance
Basic Illustration
Narrative Summary (cont.)
Cash Surrender Value of PUAs
The Cash Surrender Value of any
accumulated Paid-Up Additional Insurance
purchased by Dividends or payments you
make into the Option to Purchase Paid-Up
Additions (OPP) rider, at the end of the
given year.
Cumulative Outstanding Loan
The illustrated total of the unpaid
principal of any policy loans taken over
the life of the policy. Any loan interest
unpaid as of a policy anniversary becomes
part of the loan principal and is reflected
in the next policy year.
Cumulative Policy Cash Flow
The total of all illustrated annual policy
cash flows up to the year specified.
Death Benefit (BOY)
This is the amount we will pay to the
beneficiary if the policy is in force when
the insured dies. The Death Benefit may
differ from the Face Amount for a number
of reasons such as:
coverage from riders
accumulated dividends
outstanding policy loans
The Death Benefit is shown as of the
beginning of the Year (BOY) before any
Dividend is credited to the policy.
Dividends
Dividends are a return of that portion of
the premium that is not needed to pay
current expenses, death claims and future
benefits. You may choose from several
different Dividend options as described
below.
Paid-Up Additions
This option uses your Dividends to
purchase paid-up additional insurance.
Once Dividends have been declared and
"credited" to your policy, they become a
permanent part of the policy. Paid-Up
Additional insurance increases both the
guaranteed Death Benefit and the
guaranteed Cash Surrender Value of the
policy.
This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291)
*ILLUSTORIG 12*
Dividend Accumulations
This option leaves your Dividends with us
to accumulate at interest. Once
Dividends have been declared and
"credited" to your policy, they become a
permanent part of the policy. The
accumulated value may be withdrawn or
borrowed against. Any remaining
accumulated value will be paid to the
beneficiaries, in addition to the total
Death Benefit.
Cash
This option pays out your Dividends to
you in cash.
Reduce Premium
This option applies your Dividends toward
the payment of the premium. Any part
not needed to pay the premium is paid to
you in cash.
This illustration assumes the dividend
option is Paid Up Additions.
Dividends are not guaranteed. Dividends
have fluctuated significantly in the past,
and fluctuations in future years are likely.
These fluctuations occur mainly because
of changes in interest rates on fixed
income investments we purchase to back
our policies. These fluctuations can affect
our investments in the same way your
own income might be affected by
increases or reductions in the interest
rates on your savings. While dividends
may not go up or down as rapidly as
current interest rates, trends in interest
rates will generally push dividends in the
same direction over time. Dividends may
also be affected by the performance of
other types of investments we purchase,
our expenses (including the taxes we
pay), and our mortality experience (i.e.,
the Death Benefits we pay and how soon
those deaths occur after policies are
issued).
ILLUSTORIG 12
The accompanying illustration shows the
continuation of our currently illustrated
dividend scale and how it would impact
policy values. It is not a guarantee of
future performance. However because
dividends fluctuate, results in future years
may be more or less favorable. When
purchasing a policy, you should consider
the Company's reputation for financial
strength and investment management.
Face Amount
The illustrated Face Amount is the dollar
amount of life insurance under the base
policy as selected by the policyowner at
the time of issue.
Net Annual Policy Loan
The policy loan amount taken each year,
plus any accrued loan interest, minus any
loan repayment.
Net Annual Surrender
The Cash Surrender Value of paid-up
additions that you are illustrated to
receive in a given year, minus any
premiums due that year.
Premium Outlay
This is the out-of-pocket payment that we
anticipate will be necessary to keep the
policy in force. If the illustration assumes
that policy loans, Dividends or policy
values are used to pay some or all of the
required premium, the numbers shown in
this column will be lower than the
required premium for that scenario.
Year
This refers to the policy year.
Yearly Guaranteed Premium
This is the Guaranteed Maximum amount
that must be paid to keep your insurance
in force as illustrated. It is the contract
premium, and is the sum of the
Page 12 of 31

New York Life Insurance Company
New York Life Custom Whole Life Insurance
Basic Illustration
Narrative Summary (cont.)
guaranteed premium of the Custom
Whole Life policy and the maximum
guaranteed premium for any rider. This
premium can be paid in cash, by using
the policy's Dividends if sufficient, or by
borrowing from the policy.
Access to Policy Values
Loans and Loan Interest
You can borrow up to the maximum loan
value of this policy by taking a loan,
generally on a tax-free basis. This Whole
Life policy features a variable loan interest
rate that may increase or decrease over
time. New York Life sets the loan interest
rate quarterly. Loans reduce the total
cash value and total death benefit of the
policy by the amount of the outstanding
loan and accrued loan interest.
Taking a policy loan could result in an
unexpected taxable event. Unpaid loan
interest will be added to the policys
outstanding loan balance. If the total
loan balance exceeds the policys Cash
Surrender Value, the policy may lapse if
the loan is not repaid. Under these
circumstances, surrendering the policy, or
allowing it to lapse at that time, may
result in taxable ordinary income being
reported to the policyowner and the IRS.
You should also note that if you take a
large loan, your policy may not have
sufficient cash value to cover the potential
tax due to the IRS. You may wish to
consult your tax advisor prior to taking a
loan under this policy.
Partial Surrenders
You can elect to surrender paid-up
additional insurance, purchased by
dividends and/or the OPP Rider, for its
cash value. These surrenders of paid-up
additional insurance reduce the total cash
value and total death benefit of the
policy.
This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291)
If a policy is not a MEC, distributions
resulting from the surrender of paid-up
additional insurance are generally taxable
only to the extent that it exceeds the total
premiums paid into the policy. In certain
circumstances, these surrenders may
cause your policy to become a MEC.
Please consult your tax adviser with any
questions about tax implications of
surrenders of paid-up additional insurance
from your policy.
Periodic Payments
After your CWL policy is paid up, you can
elect to receive regularly scheduled
distributions from your policys cash value
by arranging periodic payments. These
periodic payments can be funded by your
choice of three periodic payment options:
(1) by the cash value resulting from the
surrenders of paid-up additional insurance
purchased by dividends and/or the OPP
Rider. The amount that can be paid to
you is generally limited to the amount of
premiums paid (this amount is the Tax
Basis); (2) by a policy loan from the
policy's Cash Surrender Value; or (3) a
combination of both. PERIODIC
PAYMENTS FUNDED BY ANY OPTION
REDUCE YOUR POLICYS CASH
SURRENDER VALUE AND DEATH
BENEFIT.
The impact of these periodic payments
can be viewed in a detailed supplemental
illustration (attached to this basic
illustration). It will show you how the
payments may occur under a selected
periodic payment option, in the amount
you have elected and for the period of
years you have elected. You may select
different periodic payment options and
compare them. THE PERIODIC
*ILLUSTORIG 13*
ILLUSTORIG 13
PAYMENTS SHOWN IN THIS
ILLUSTRATION ARE NOT GUARANTEED
DUE TO THE NON-GUARANTEED NATURE
OF THE POLICY VALUES FUNDING THE
PAYMENTS.
If you choose to elect a periodic payment
option once all premiums have been paid
on the policy, you will be provided with an
inforce supplemental illustration depicting
the impact of the periodic payment option
you have chosen, based on the non-
guaranteed elements and assumptions in
effect at that time. DUE TO THE NON-
GUARANTEED NATURE OF THE POLICY
VALUES FUNDING THE PAYMENTS, THE
PERIODIC PAYMENTS YOU ELECT ARE
NOT GUARANTEED TO CONTINUE IN THE
AMOUNT OR DURATION THAT YOU HAVE
CHOSEN AFTER THEY HAVE BEGUN. You
should request inforce illustrations from
your agent from time to time to review
your period payment elections and ensure
the sustainability of your policy.
PLEASE NOTE: If your policy is a
Modified Endowment Contract, any
surrenders or withdrawals from your
policy or policy loans may have adverse
tax consequences. You should consult
with your tax advisor. Refer to the
Modified Endowment Contract (MEC)
section of the Narrative Summary for
more details.
Riders and Benefits
Riders and benefits can
enhance your policy. However,
they may be subject to
jurisdictional availability.
These riders are automatically
included in your policy.
Page 13 of 31

New York Life Insurance Company
New York Life Custom Whole Life Insurance
Basic Illustration
Narrative Summary (cont.)
Insurance Exchange Rider
With this rider you have the ability to
exchange your policy for a new Custom
Whole Life insurance policy that can be
issued on a new insured, using values
from your original policy. This rider
provides for the one-time exchange to a
new Custom Whole Life insurance policy
on a successor insured, subject to
evidence of good health and insurable
interest. A one-time payment may be
required upon exercise, depending upon
the cash value of the existing and new
policies at the time of exchange. Note,
this rider is only available on nonqualified
policies, and there may be adverse tax
consequences associated with exercising
this rider.
Rider Insured's Paid-Up Insurance
Purchase Option Rider
This rider allows a spouse or family
member who is named as a policys
beneficiary to purchase a new paid-up
Whole Life insurance policy on his or her
own life without evidence of insurability
after the insured has died. This rider is
automatically added at time of issue and
is subject to state availability.
Subject to availability, this
rider can be added to your
policy at any time.
Living Benefits Rider
This rider allows a portion of the policys
eligible death benefit to be accessed
should the insured be diagnosed with a
terminal illness with a severely shortened
life expectancy. There is a cost to
exercise this rider.
These are the optional riders
and benefits you selected to
include in your policy.
This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291)
*ILLUSTORIG 14*
ILLUSTORIG 14
Disability Waiver of Premium Generally, the annual seven-pay premium
This rider provides that premiums for this is the level annual premium such that, if
policy will be waived if the insured has paid each year of any given seven year
been totally disabled for at least six period, will fully pay for all future life
consecutive months. There is an insurance and endowment benefits under
additional premium for Disability Waiver a life insurance policy.
of Premium coverage.
Policies that are not classified as MECs
Additional Information generally will be taxed as conventional life
insurance policies. If a policy is classified
Age 121 Policy Anniversary as a MEC, the taxation of pre-death
When the insured reaches age 121, the distributions (including loans) is
policy will mature and the guaranteed somewhat different. Distributions from a
cash value will equal the policys face MEC, including loans and partial
amount. Any policy loan outstanding at
surrenders, will be included as taxable
age 121 will continue to accrue interest at
income to the extent that there is gain in
the current policy loan interest rate. All
the contract. In addition a 10% tax
insurance or benefits from riders will end.
penalty may be assessed on taxable
The policy will remain eligible for
distributions prior to age 59 1/2.
dividends and can be surrendered at any
time for its cash value. If the benefit
Premium Payments
were paid out, any outstanding loan
This illustration assumes that all
would reduce the amount of the payment.
premiums are paid when due.
Life Expectancy
This illustration is not to be relied upon
For the purpose of this illustration, life
for tax advice. Please consult your tax and
expectancy is the average projected
legal advisers if you have questions about
lifespan of a representative group of
taxes. The tax status of the policy as it
people of the same sex, issue age, and
applies to the policyowner should be
underwriting class. The insureds age at
reviewed annually.
life expectancy is noted on the Illustration
Summary page.
Modified Endowment Contract (MEC)
Internal Revenue Code Section 7702A
defines a class of life insurance policies
referred to as modified endowment
contracts (MECs). A life insurance policy
becomes a MEC if, at any time during the
first seven policy years, or within seven
years of a material change, your
cumulative premium payments exceed the
cumulative annual seven-pay premium,
as determined under Code Section 7702A.
Page 14 of 31
 *ILLUSTORIG 15*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Basic Illustration
ILLUSTORIG 15

Illustration Summary
Base Policy Face Amount: $372,734 Premium Mode: Annual
Initial Death Benefit Amount: $372,734 Dividend Option: Paid Up Additions
Premium Paying Period: 11

Guaranteed charge which is the average of the current guaranteed, the policy values and benefits
These policy values and benefits are and maximum guaranteed levels. shown in this column are not guaranteed.
guaranteed based on the Annual Policy This illustration shows the continuation of
Non-Guaranteed Current
Cash Flow shown in this example and the the current expense charge and currently
Dividends and the OPP expense charge
maximum guaranteed OPP expense illustrated dividend scale; the Dividends
are non-guaranteed elements and are
charges. actually paid and expense charge imposed
subject to change by the Company.
may be more or less favorable than those
Non-Guaranteed Midpoint Because these policy values and benefits
shown here.
Policy values and benefits are based on are based on the current non-guaranteed
50% of the Company's currently illustrated OPP expense charge and include values
dividend scale and on an OPP expense increased by Dividends, which are not
Guaranteed Non-Guaranteed Midpoint Non-Guaranteed Current
Yearly Cash Death Cash Death Cash Death
End of Guaranteed Surrender Benefit Premium Surrender Benefit Premium Surrender Benefit
Year Age Premium Value (BOY) Outlay Value (BOY) Outlay Value (BOY)
5 54 16,620 59,582 372,734 16,620 62,841 378,768 16,620 66,175 384,890
10 59 16,620 139,567 372,734 16,620 153,473 400,700 16,620 168,308 430,272
20 69 0 201,083 372,734 0 261,119 476,003 0 332,030 596,599
21 70 0 206,282 372,734 0 272,347 484,019 0 351,285 615,463
41 90& 0 306,201 372,734 0 562,094 672,364 0 952,735 1,123,769
46 95 0 325,304 372,734 0 650,626 732,775 0 1,179,116 1,310,834

Please refer to the Owner Actions Reflected In This Illustration page for an explanation of the Modified Endowment Contract status of the policy being
illustrated.
& Represents the insureds life expectancy added to the insureds age. See Additional Information section on the Narrative Summary page for more
information.
Please refer to the Narrative Summary for Column Heading Definitions.

I have received a copy of this illustration and understand that any non-guaranteed elements illustrated are subject to change and could
be either higher or lower. The agent has told me they are NOT GUARANTEED.

Applicants Signature Date

I certify that this illustration has been presented to the applicant and that I have explained that any non-guaranteed elements
illustrated are subject to change. I have made no statements that are inconsistent with the illustration.

Agent's Signature Date

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 15 of 31
 *ILLUSTORIG 16*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Basic Illustration
ILLUSTORIG 16

Extended Illustration Summary

Base Policy Face Amount: $372,734 Premium Mode: Annual
Initial Death Benefit Amount: $372,734 Dividend Option: Paid Up Additions
Premium Paying Period: 11
Like the Illustration Summary on the previous page, the table below shows how your policy may perform on guaranteed, non-
guaranteed current, and non-guaranteed mid-point bases. This table is illustrated to show this performance in all policy Years, and
assumes that you utilize policy loans and or partial surrenders as a living benefit. Details of any such policy loans and/or partial
surrenders can be seen in the Supplemental Illustration of Cash Flows page of this illustration. For a description of these policy
features, please refer to the Narrative Summary.
Guaranteed Non-Guaranteed Midpoint Non-Guaranteed Current
End Yearly Cash Death Cash Death Cash Death
of Guaranteed Premium Surrender Benefit Premium Surrender Benefit Premium Surrender Benefit
Year Age Premium Outlay Value (BOY) Outlay Value (BOY) Outlay Value (BOY)
1 50 16,620 16,620 4,823 372,734 16,620 4,823 372,734 16,620 4,823 372,734
2 51 16,620 16,620 17,832 372,734 16,620 18,271 372,734 16,620 18,708 372,734
3 52 16,620 16,620 31,284 372,734 16,620 32,391 374,104 16,620 33,504 375,463
4 53 16,620 16,620 45,194 372,734 16,620 47,259 376,075 16,620 49,353 379,433
5 54 16,620 16,620 59,582 372,734 16,620 62,841 378,768 16,620 66,175 384,890

6 55 16,620 16,620 74,469 372,734 16,620 79,227 381,967 16,620 84,135 391,408
7 56 16,620 16,620 89,885 372,734 16,620 96,461 385,802 16,620 103,300 399,279
8 57 16,620 16,620 105,853 372,734 16,620 114,593 390,251 16,620 123,757 408,467
9 58 16,620 16,620 122,402 372,734 16,620 133,547 395,326 16,620 145,332 419,013
10 59 16,620 16,620 139,567 372,734 16,620 153,473 400,700 16,620 168,308 430,272

11 60 16,620 16,620 157,406 372,734 16,620 175,018 406,626 16,620 193,930 442,783
12 61 0 0 161,957 372,734 0 183,423 414,440 0 206,668 459,224
13 62 0 0 166,582 372,734 0 192,053 422,137 0 219,902 475,634
14 63 0 0 171,282 372,734 0 200,913 429,726 0 233,651 492,039
15 64 0 0 176,065 372,734 0 210,056 437,214 0 248,020 508,455

16 65 0 0 180,925 372,734 0 219,593 444,696 0 263,250 525,067

17 66 0 0 185,860 372,734 0 229,467 452,395 0 279,252 542,336
18 67 0 0 190,866 372,734 0 239,678 460,186 0 296,036 560,028
19 68 0 0 195,943 372,734 0 250,230 468,058 0 313,626 578,116
20 69 0 0 201,083 372,734 0 261,119 476,003 0 332,030 596,599

21 70 0 0 206,282 372,734 0 272,347 484,019 0 351,285 615,463

22 71 0 0 182,185 344,786 0 254,916 441,607 0 342,068 584,242
23 72 0 0 156,650 315,440 0 236,739 399,937 0 332,273 553,505
24 73 0 0 129,604 284,627 0 217,708 364,716 0 321,896 523,191
25 74 0 0 100,959 252,274 0 197,587 340,378 0 310,946 493,276

26 75 0 0 70,631 218,303 0 176,298 314,931 0 299,378 463,778

27 76 0 0 38,526 182,633 0 153,808 288,300 0 287,252 434,614
28 77 0 0 4,553 145,180 0 130,057 260,462 0 274,510 413,118
29 78 0 1,944 0 135,746 0 104,977 231,358 0 261,065 399,424
30 79 0 6,755 0 130,652 0 78,502 200,926 0 246,882 384,750

Please see the End Notes at the end of this ledger for important information.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 16 of 31
 *ILLUSTORIG 17*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Basic Illustration
ILLUSTORIG 17

Extended Illustration Summary (cont.)

Guaranteed Non-Guaranteed Midpoint Non-Guaranteed Current
End Yearly Cash Death Cash Death Cash Death
of Guaranteed Premium Surrender Benefit Premium Surrender Benefit Premium Surrender Benefit
Year Age Premium Outlay Value (BOY) Outlay Value (BOY) Outlay Value (BOY)
31 80 0 7,024 0 125,572 0 50,421 169,102 0 231,632 369,051
32 81 0 7,285 0 120,500 0 20,759 135,687 0 215,459 351,887
33 82 0 7,674 0 115,562 0 5,002 115,562 0 198,352 333,468
34 83 0 8,070 0 110,773 3,068 5,196 110,773 0 180,249 314,050
35 84 0 8,423 0 106,098 3,227 5,367 106,098 0 161,083 293,593

36 85 0 8,777 0 101,543 3,410 5,535 101,543 0 140,774 271,952

37 86 0 9,144 0 97,127 3,608 5,710 97,127 0 119,244 249,053
38 87 0 9,403 0 92,750 3,693 5,822 92,750 0 96,350 224,848
39 88 0 9,874 0 88,626 4,052 6,031 88,626 0 71,972 198,959
40 89 0 10,325 0 84,746 4,295 6,225 84,746 0 45,947 171,726

41 90& 0 10,768 0 81,114 4,840 6,568 82,859 0 47,419 170,922

42 91 0 11,077 0 77,610 5,119 6,865 80,999 0 48,447 169,804
43 92 0 10,954 0 73,808 5,025 7,055 78,732 0 49,558 168,133
44 93 0 11,102 0 69,964 5,319 7,272 76,245 0 50,289 165,504
45 94 0 11,457 0 66,283 5,803 7,638 73,762 0 50,483 161,942

46 95 0 11,961 0 62,921 6,305 8,073 71,495 0 49,914 157,777

47 96 0 12,665 0 60,095 6,958 8,514 69,708 0 48,096 153,180
48 97 0 13,268 0 57,731 7,526 9,038 68,387 0 45,426 148,239
49 98 0 13,936 0 55,917 8,101 9,376 67,655 0 41,333 143,317
50 99 0 13,569 0 53,645 7,842 9,655 66,525 0 37,469 138,127

51 100 0 13,533 0 51,224 7,987 9,968 65,039 0 33,214 131,706

52 101 0 10,637 0 45,785 4,371 10,374 59,508 0 36,568 124,156
53 102 0 10,813 0 43,520 4,540 10,775 57,877 0 39,820 124,141
54 103 0 11,000 0 41,352 4,740 11,201 56,274 0 42,947 123,913
55 104 0 11,198 0 39,295 4,943 11,659 54,724 0 45,949 123,501

56 105 0 11,417 0 37,374 5,152 12,159 53,266 0 48,809 122,965

57 106 0 11,665 0 35,625 5,369 12,675 51,957 0 51,426 122,387
58 107 0 11,886 0 34,026 5,561 13,216 50,801 0 53,857 121,813
59 108 0 12,093 0 32,571 5,735 13,773 49,795 0 56,103 121,266
60 109 0 12,263 0 31,227 5,877 14,340 48,912 0 58,211 120,755

61 110 0 12,438 0 30,005 6,038 14,917 48,154 0 60,121 120,241

62 111 0 12,630 0 28,926 6,226 15,499 47,559 0 61,737 119,733
63 112 0 12,781 0 27,955 6,391 16,109 47,115 0 63,150 119,250
64 113 0 12,899 0 27,063 6,518 16,721 46,783 0 64,385 118,782
65 114 0 12,813 0 26,048 6,463 17,495 46,349 0 66,241 118,266

66 115 0 12,986 0 25,167 6,535 18,205 45,913 0 67,864 117,635

67 116 0 13,068 0 24,332 6,607 18,981 45,592 0 69,556 117,132

Please see the End Notes at the end of this ledger for important information.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 17 of 31
 *ILLUSTORIG 18*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Basic Illustration
ILLUSTORIG 18

Extended Illustration Summary (cont.)

Guaranteed Non-Guaranteed Midpoint Non-Guaranteed Current
End Yearly Cash Death Cash Death Cash Death
of Guaranteed Premium Surrender Benefit Premium Surrender Benefit Premium Surrender Benefit
Year Age Premium Outlay Value (BOY) Outlay Value (BOY) Outlay Value (BOY)
68 117 0 13,123 0 23,518 6,617 19,831 45,299 0 71,479 116,702
69 118 0 13,270 0 22,819 6,677 20,664 45,106 0 73,268 116,393
70 119 0 13,326 0 22,149 6,695 21,632 45,027 0 75,383 116,310

71 120 0 13,149 0 21,275 6,381 22,145 44,751 0 77,567 116,514

72 121 0 7,120 0 14,336 690 29,753 38,119 0 112,321 115,445

I have received a copy of this illustration and understand that any non-guaranteed elements illustrated are subject to change and
could be either higher or lower. The agent has told me they are NOT GUARANTEED.

Applicants Signature Date

I certify that this illustration has been presented to the applicant and that I have explained that any non-guaranteed elements
illustrated are subject to change. I have made no statements that are inconsistent with the illustration.

Agent's Signature Date

End Notes
Please refer to the Owner Actions Reflected In This Illustration page for an explanation of the Modified Endowment Contract status of the policy being
illustrated.
& Represents the insureds life expectancy added to the insureds age. See Additional Information section on the Narrative Summary page for more
information.
Loan interest accrues at a variable rate, which is currently 5.00%, up until the policy anniversary on which the insured reaches age 100. Thereafter,
interest accrues at a fixed rate of 4.00% per year.
Please refer to the Narrative Summary for Column Heading Definitions.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 18 of 31
 *ILLUSTORIG 19*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Basic Illustration
ILLUSTORIG 19

Yearly Detail
Base Policy Face Amount: $372,734 Premium Mode: Annual
Initial Death Benefit Amount: $372,734 Dividend Option: Paid Up Additions
Premium Paying Period: 11
Guaranteed Non-Guaranteed Current
Yearly Annual Cash Death Annual Cash Death
End of Guaranteed Policy Cash Surrender Benefit Premium Policy Cash Surrender Benefit
Year Age Premium Flow Value (BOY) Outlay Flow Value (BOY)
1 50 16,620 16,620 4,823 372,734 16,620 16,620 4,823 372,734
2 51 16,620 16,620 17,832 372,734 16,620 16,620 18,708 372,734
3 52 16,620 16,620 31,284 372,734 16,620 16,620 33,504 375,463
4 53 16,620 16,620 45,194 372,734 16,620 16,620 49,353 379,433
5 54 16,620 16,620 59,582 372,734 16,620 16,620 66,175 384,890

6 55 16,620 16,620 74,469 372,734 16,620 16,620 84,135 391,408

7 56 16,620 16,620 89,885 372,734 16,620 16,620 103,300 399,279
8 57 16,620 16,620 105,853 372,734 16,620 16,620 123,757 408,467
9 58 16,620 16,620 122,402 372,734 16,620 16,620 145,332 419,013
10 59 16,620 16,620 139,567 372,734 16,620 16,620 168,308 430,272

11 60 16,620 16,620 157,406 372,734 16,620 16,620 193,930 442,783

12 61 0 0 161,957 372,734 0 0 206,668 459,224
13 62 0 0 166,582 372,734 0 0 219,902 475,634
14 63 0 0 171,282 372,734 0 0 233,651 492,039
15 64 0 0 176,065 372,734 0 0 248,020 508,455

16 65 0 0 180,925 372,734 0 0 263,250 525,067

17 66 0 0 185,860 372,734 0 0 279,252 542,336
18 67 0 0 190,866 372,734 0 0 296,036 560,028
19 68 0 0 195,943 372,734 0 0 313,626 578,116
20 69 0 0 201,083 372,734 0 0 332,030 596,599

21 70 0 0 206,282 372,734 0 0 351,285 615,463

22 71 0 0 211,530 372,734 0 0 371,403 634,742
23 72 0 0 216,808 372,734 0 0 392,366 654,443
24 73 0 0 222,116 372,734 0 0 414,206 674,551
25 74 0 0 227,442 372,734 0 0 436,960 695,082

26 75 0 0 232,784 372,734 0 0 460,610 716,093

27 76 0 0 238,132 372,734 0 0 485,302 737,530
28 77 0 0 243,485 372,734 0 0 511,073 759,614
29 78 0 0 248,837 372,734 0 0 537,958 782,366
30 79 0 0 254,186 372,734 0 0 566,006 805,808

31 80 0 0 259,520 372,734 0 0 594,967 829,981

32 81 0 0 264,846 372,734 0 0 625,084 854,519
33 82 0 0 270,031 372,734 0 0 656,431 879,719
34 83 0 0 275,059 372,734 0 0 689,041 906,097

Please see the End Notes at the end of this ledger for important information.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 19 of 31
 *ILLUSTORIG 20*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Basic Illustration
ILLUSTORIG 20

Yearly Detail (cont.)

Guaranteed Non-Guaranteed Current
Yearly Annual Cash Death Annual Cash Death
End of Guaranteed Policy Cash Surrender Benefit Premium Policy Cash Surrender Benefit
Year Age Premium Flow Value (BOY) Outlay Flow Value (BOY)
35 84 0 0 279,968 372,734 0 0 722,946 933,724

36 85 0 0 284,750 372,734 0 0 758,171 962,490

37 86 0 0 289,387 372,734 0 0 794,735 992,436
38 87 0 0 293,983 372,734 0 0 832,535 1,023,628
39 88 0 0 298,314 372,734 0 0 871,556 1,055,552
40 89 0 0 302,388 372,734 0 0 911,680 1,088,983

41 90& 0 0 306,201 372,734 0 0 952,735 1,123,769

42 91 0 0 309,880 372,734 0 0 994,812 1,159,751
43 92 0 0 313,872 372,734 0 0 1,039,080 1,196,594
44 93 0 0 317,909 372,734 0 0 1,084,807 1,233,944
45 94 0 0 321,774 372,734 0 0 1,131,617 1,271,889

46 95 0 0 325,304 372,734 0 0 1,179,116 1,310,834

47 96 0 0 328,271 372,734 0 0 1,226,546 1,351,035
48 97 0 0 330,753 372,734 0 0 1,274,703 1,392,678
49 98 0 0 332,658 372,734 0 0 1,322,996 1,436,495
50 99 0 0 335,043 372,734 0 0 1,374,504 1,482,382

51 100 0 0 337,585 372,734 0 0 1,428,224 1,529,130

52 101 0 0 340,027 372,734 0 0 1,483,447 1,576,928
53 102 0 0 342,382 372,734 0 0 1,540,233 1,626,141
54 103 0 0 344,637 372,734 0 0 1,598,590 1,676,773
55 104 0 0 346,777 372,734 0 0 1,658,547 1,728,916

56 105 0 0 348,775 372,734 0 0 1,720,093 1,782,693

57 106 0 0 350,594 372,734 0 0 1,783,119 1,838,256
58 107 0 0 352,256 372,734 0 0 1,847,779 1,895,725
59 108 0 0 353,769 372,734 0 0 1,914,147 1,955,197
60 109 0 0 355,167 372,734 0 0 1,982,404 2,016,760

61 110 0 0 356,438 372,734 0 0 2,052,535 2,080,456

62 111 0 0 357,560 372,734 0 0 2,124,467 2,146,374
63 112 0 0 358,570 372,734 0 0 2,198,444 2,214,624
64 113 0 0 359,498 372,734 0 0 2,274,637 2,285,285
65 114 0 0 360,553 372,734 0 0 2,354,397 2,358,383

66 115 0 0 361,470 372,734 0 0 2,436,374 2,433,939

67 116 0 0 362,338 372,734 0 0 2,521,163 2,512,295
68 117 0 0 363,185 372,734 0 0 2,609,091 2,593,496
69 118 0 0 363,911 372,734 0 0 2,699,656 2,677,693
70 119 0 0 364,608 372,734 0 0 2,793,647 2,765,106

Please see the End Notes at the end of this ledger for important information.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 20 of 31
 *ILLUSTORIG 21*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Basic Illustration
ILLUSTORIG 21

Yearly Detail (cont.)

Guaranteed Non-Guaranteed Current
Yearly Annual Cash Death Annual Cash Death
End of Guaranteed Policy Cash Surrender Benefit Premium Policy Cash Surrender Benefit
Year Age Premium Flow Value (BOY) Outlay Flow Value (BOY)
71 120 0 0 365,518 372,734 0 0 2,891,547 2,855,905
72 121 0 0 372,734 372,734 0 0 3,042,228 2,948,632

End Notes
Please refer to the Owner Actions Reflected In This Illustration page for an explanation of the Modified Endowment Contract status of the policy being
illustrated.
& Represents the insureds life expectancy added to the insureds age. See Additional Information section on the Narrative Summary page for more
information.
Non-Guaranteed values shown are based on our current illustrative dividend scale and our current OPP expense charge of 8.00%. These values are not
guaranteed and are subject to change.
Please refer to the Narrative Summary for Column Heading Definitions.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 21 of 31
 *ILLUSTORIG 22*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Basic Illustration
ILLUSTORIG 22

Owner Actions Reflected in This Illustration

The following illustrated transactions do not occur automatically. For these transactions to happen, New York Life must receive a
request from the policyowner:

Policy Year Age Illustrated Transaction Explanation

You can partially surrender your Paid-Up Additional Death Benefit for its
cash value at any time. You should request an inforce illustration at the
22* 71* Surrender of Paid-Up Additions
time you surrender PUAs to see how your policys illustrated values are
affected from that point forward.
You can exercise a policy loan whenever you need to access your policys
28* 77* Policy Loan cash value. It is important to understand that outstanding policy loans
accrue interest and reduce the policys cash value and death benefit.

*This transaction occurs more than once. This is the first year in which it is illustrated.
This chart does not necessarily reflect all possible illustrated transactions that require action from the policyowner. There may be charges associated
with some of the illustrated transactions.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 22 of 31
 *ILLUSTORIG 23*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Basic Illustration
ILLUSTORIG 23

Owner Actions Reflected in This Illustration(cont.)

Important Information About the Modified Endowment Status of Your Policy

This illustration shows two different cash flow scenarios. One is a full pay scenario, which assumes that you pay the Yearly
Guaranteed Premium at the beginning of each Year from out-of-pocket funds when it is due, that no policy loans are taken or repaid,
and that you do not surrender any Paid-Up Additional Insurance.

The following sections of this illustration assume a full pay scenario:

Illustration Summary Yearly Detail

Cash Surrender Values Summary Graph

The second cash flow scenario assumes that you take distributions from the policy at some point in the form of policy loans, or by
surrendering Paid-Up Additional Insurance. Such distributions may lower your out of pocket cost in some years or provide income to
meet a need, but they will result in lower cash value and death benefit and may result in tax consequences to you.

The following sections of this illustration assume that you take distributions from your policy, and demonstrate the impact on your
policy:

Extended Illustration Summary Supplemental Illustration of Cash Flows

Variable Loan Interest Rate Effect on Policy Performance Policy Values Summary Graph
Supplemental Life Insurance for Retirement Income
Supplemental Illustration

The evaluation of the Modified Endowment Contract (MEC) status of this illustration is based on the assumed premium funding and
distributions shown in the Supplemental Illustration of Cash Flows. Based on the scenario shown in the Supplemental Illustration of
Cash Flows, this policy will not become a MEC in any year.

It is important for you to know that actual premium payments into, or distributions from your policy that differ from those shown in the
Supplemental Illustration of Cash Flows including those shown in the full pay scenario described above may result in a different
MEC evaluation. For more information about Modified Endowment Contracts please refer to the Narrative Summary, or speak with your
tax advisor.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 23 of 31
 *ILLUSTORIG 24*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Supplemental Illustration
ILLUSTORIG 24

Supplemental Illustration of Cash Flows

Base Policy Face Amount: $372,734 Premium Mode: Annual
Initial Death Benefit Amount: $372,734 Dividend Option: Paid Up Additions
Premium Paying Period: 11
Your Custom Whole Life policy provides more than just valuable death benefit protection. The table below illustrates how you can
access your policys living benefits via loans and/or partial surrenders. It is divided into two sections: Policy Cash Flows and Policy
Cash Surrender Value and Death Benefit. Policy Cash Flows illustrates money (premium, partial surrenders, loans, loan interest, and
loan repayments) coming into and out of your policy. The Policy Cash Surrender Value and Death Benefit columns show the resulting
effect of the illustrated cash flows.
Policy Cash Flows Policy Cash Surrender Value and Death Benefit
Cash
Annual Cumulative Surrender Cumulative Cash Death Annual
End of Policy Cash Policy Cash Net Annual Net Annual Value of Outstanding Surrender Benefit Tax &
Year Age Flow Flow Surrender Policy Loan PUAs Loan Value (BOY) Penalty
1 50 16,620 16,620 0 0 0 0 4,823 372,734 0
2 51 16,620 33,240 0 0 876 0 18,708 372,734 0
3 52 16,620 49,860 0 0 2,221 0 33,504 375,463 0
4 53 16,620 66,480 0 0 4,159 0 49,353 379,433 0
5 54 16,620 83,100 0 0 6,593 0 66,175 384,890 0

6 55 16,620 99,720 0 0 9,666 0 84,135 391,408 0

7 56 16,620 116,340 0 0 13,415 0 103,300 399,279 0
8 57 16,620 132,960 0 0 17,904 0 123,757 408,467 0
9 58 16,620 149,580 0 0 22,929 0 145,332 419,013 0
10 59 16,620 166,200 0 0 28,742 0 168,308 430,272 0

11 60 16,620 182,820 0 0 36,525 0 193,930 442,783 0

12 61 0 182,820 0 0 44,711 0 206,668 459,224 0
13 62 0 182,820 0 0 53,320 0 219,902 475,634 0
14 63 0 182,820 0 0 62,368 0 233,651 492,039 0
15 64 0 182,820 0 0 71,956 0 248,020 508,455 0

16 65 0 182,820 0 0 82,325 0 263,250 525,067 0

17 66 0 182,820 0 0 93,392 0 279,252 542,336 0
18 67 0 182,820 0 0 105,170 0 296,036 560,028 0
19 68 0 182,820 0 0 117,683 0 313,626 578,116 0
20 69 0 182,820 0 0 130,948 0 332,030 596,599 0

21 70 0 182,820 0 0 145,003 0 351,285 615,463 0

22 71 -27,948 154,872 27,948 0 130,537 0 342,068 584,242 0
23 72 -27,948 126,924 27,948 0 115,464 0 332,273 553,505 0
24 73 -27,948 98,976 27,948 0 99,780 0 321,896 523,191 0
25 74 -27,948 71,028 27,948 0 83,504 0 310,946 493,276 0

26 75 -27,948 43,079 27,948 0 66,594 0 299,378 463,778 0

27 76 -27,948 15,131 27,948 0 49,120 0 287,252 434,614 0
Reflects non-guaranteed values and benefits which are based on assumptions that are subject to change by the insurer; therefore, actual results may
be more or less favorable.
This is a supplemental illustration which is not valid without the attached basic illustration. Refer to the basic illustration for guaranteed values and
benefits and other important information.

Please see the End Notes at the end of this ledger for important information.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 24 of 31
 *ILLUSTORIG 25*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Supplemental Illustration
ILLUSTORIG 25

Supplemental Illustration of Cash Flows (cont.)

Policy Cash Flows Policy Cash Surrender Value and Death Benefit
Cash
Annual Cumulative Surrender Cumulative Cash Death Annual
End of Policy Cash Policy Cash Net Annual Net Annual Value of Outstanding Surrender Benefit Tax &
Year Age Flow Flow Surrender Policy Loan PUAs Loan Value (BOY) Penalty
28 77 -27,948 -12,817 15,131 12,817 44,483 12,817 274,510 413,118 0
29 78 -27,948 -40,765 0 28,589 55,704 41,406 261,065 399,424 0
30 79 -27,948 -68,713 0 30,018 67,691 71,424 246,882 384,750 0

31 80 -27,948 -96,661 0 31,519 80,203 102,944 231,632 369,051 0

32 81 -27,948 -124,610 0 33,095 93,454 136,039 215,459 351,887 0
33 82 -27,948 -152,558 0 34,750 107,649 170,789 198,352 333,468 0
34 83 -27,948 -180,506 0 36,488 122,831 207,277 180,249 314,050 0
35 84 -27,948 -208,454 0 38,312 138,983 245,589 161,083 293,593 0

36 85 -27,948 -236,402 0 40,228 156,131 285,816 140,774 271,952 0

37 86 -27,948 -264,350 0 42,239 174,315 328,055 119,244 249,053 0
38 87 -27,948 -292,299 0 44,351 193,394 372,406 96,350 224,848 0
39 88 -27,948 -320,247 0 46,568 213,582 418,975 71,972 198,959 0
40 89 -27,948 -348,195 0 48,897 234,824 467,872 45,947 171,726 0

41 90& 0 -348,195 0 23,394 257,047 491,265 47,419 170,922 0

42 91 0 -348,195 0 24,563 280,187 515,829 48,447 169,804 0
43 92 0 -348,195 0 25,791 304,388 541,620 49,558 168,133 0
44 93 0 -348,195 0 27,081 329,517 568,701 50,289 165,504 0
45 94 0 -348,195 0 28,435 355,702 597,136 50,483 161,942 0

46 95 0 -348,195 0 29,857 382,953 626,993 49,914 157,777 0

47 96 0 -348,195 0 31,350 411,085 658,343 48,096 153,180 0
48 97 0 -348,195 0 32,917 440,496 691,260 45,426 148,239 0
49 98 0 -348,195 0 34,563 470,789 725,823 41,333 143,317 0
50 99 0 -348,195 0 36,291 502,646 762,114 37,469 138,127 0

51 100 0 -348,195 0 38,106 535,859 800,219 33,214 131,706 0

52 101 0 -348,195 0 40,011 570,381 840,230 36,568 124,156 0
53 102 0 -348,195 0 33,609 606,231 873,840 39,820 124,141 0
54 103 0 -348,195 0 34,954 643,454 908,793 42,947 123,913 0
55 104 0 -348,195 0 36,352 682,123 945,145 45,949 123,501 0

56 105 0 -348,195 0 37,806 722,303 982,951 48,809 122,965 0

57 106 0 -348,195 0 39,318 763,992 1,022,269 51,426 122,387 0
58 107 0 -348,195 0 40,891 807,287 1,063,160 53,857 121,813 0
59 108 0 -348,195 0 42,526 852,247 1,105,686 56,103 121,266 0
60 109 0 -348,195 0 44,227 898,954 1,149,913 58,211 120,755 0

Reflects non-guaranteed values and benefits which are based on assumptions that are subject to change by the insurer; therefore, actual results may
be more or less favorable.
This is a supplemental illustration which is not valid without the attached basic illustration. Refer to the basic illustration for guaranteed values and
benefits and other important information.

Please see the End Notes at the end of this ledger for important information.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 25 of 31
 *ILLUSTORIG 26*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Supplemental Illustration
ILLUSTORIG 26

Supplemental Illustration of Cash Flows (cont.)

Policy Cash Flows Policy Cash Surrender Value and Death Benefit
Cash
Annual Cumulative Surrender Cumulative Cash Death Annual
End of Policy Cash Policy Cash Net Annual Net Annual Value of Outstanding Surrender Benefit Tax &
Year Age Flow Flow Surrender Policy Loan PUAs Loan Value (BOY) Penalty
61 110 0 -348,195 0 45,997 947,429 1,195,910 60,121 120,241 0
62 111 0 -348,195 0 47,836 997,673 1,243,746 61,737 119,733 0
63 112 0 -348,195 0 49,750 1,049,816 1,293,496 63,150 119,250 0
64 113 0 -348,195 0 51,740 1,103,933 1,345,236 64,385 118,782 0
65 114 0 -348,195 0 53,809 1,160,695 1,399,045 66,241 118,266 0

66 115 0 -348,195 0 55,962 1,219,601 1,455,007 67,864 117,635 0

67 116 0 -348,195 0 58,200 1,280,953 1,513,208 69,556 117,132 0
68 117 0 -348,195 0 60,528 1,344,980 1,573,736 71,479 116,702 0
69 118 0 -348,195 0 62,949 1,411,509 1,636,685 73,268 116,393 0
70 119 0 -348,195 0 65,467 1,481,013 1,702,153 75,383 116,310 0

71 120 0 -348,195 0 68,086 1,553,097 1,770,239 77,567 116,514 0

72 121 0 -348,195 0 70,810 1,654,277 1,841,048 112,321 115,445 0
Reflects non-guaranteed values and benefits which are based on assumptions that are subject to change by the insurer; therefore, actual results may
be more or less favorable.
This is a supplemental illustration which is not valid without the attached basic illustration. Refer to the basic illustration for guaranteed values and
benefits and other important information.

End Notes
Please refer to the Owner Actions Reflected In This Illustration page for an explanation of the Modified Endowment Contract status of the policy being
illustrated.
& Represents the insureds life expectancy added to the insureds age. See Additional Information section on the Narrative Summary page for more
information.
Loan interest accrues at a variable rate, which is currently 5.00%, up until the policy anniversary on which the insured reaches age 100. Thereafter,
interest accrues at a fixed rate of 4.00% per year.
Unless noted above, values shown are based on our current illustrative dividend scale and our current OPP expense charge of 8.00%.
Please refer to the Narrative Summary for Column Heading Definitions.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 26 of 31
 *ILLUSTORIG 27*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Supplemental Illustration
ILLUSTORIG 27

Variable Loan Interest Rate Effect on Policy Performance

Base Policy Face Amount: $372,734 Premium Mode: Annual
Initial Death Benefit Amount: $372,734 Dividend Option: Paid Up Additions
Premium Paying Period: 11
When you take a policy loan, your policys cash value and death benefit are impacted by the size of the loan and the loan interest
rate. It is important for you to be aware that your policy has a variable loan interest rate that can increase or decrease over time,
and that different rates can affect your policys performance.
The ledger below shows the same partial surrenders and policy loans demonstrated in the Supplemental Illustration of Cash Flows
under three different loan interest rate scenarios: the current loan interest rate of 5.00% in all years; a rate of 7.00% in all years,
and a rate of 9.00% in all years. For each scenario, the resulting policy values after the surrender and loan is made are shown in the
Cash Surrender Value and Death Benefit columns. Each scenario assumes the current non-guaranteed dividend scale continues in
all years.
While you are not required to repay a policy loan with out-of-pocket funds, doing so restores your policys benefits and cash value.
Please refer to the Narrative Summary pages of this illustration for important information about policy loans.
Loan Interest Rate of 9.00% Loan Interest Rate of 7.00% Loan Interest Rate of 5.00%
Annual Cash Death Annual Cash Death Annual Cash Death
End of Policy Cash Surrender Benefit Policy Cash Surrender Benefit Policy Cash Surrender Benefit
Year Age Flow Value (BOY) Flow Value (BOY) Flow Value (BOY)
1 50 16,620 4,823 372,734 16,620 4,823 372,734 16,620 4,823 372,734
2 51 16,620 18,708 372,734 16,620 18,708 372,734 16,620 18,708 372,734
3 52 16,620 33,504 375,463 16,620 33,504 375,463 16,620 33,504 375,463
4 53 16,620 49,353 379,433 16,620 49,353 379,433 16,620 49,353 379,433
5 54 16,620 66,175 384,890 16,620 66,175 384,890 16,620 66,175 384,890

6 55 16,620 84,135 391,408 16,620 84,135 391,408 16,620 84,135 391,408

7 56 16,620 103,300 399,279 16,620 103,300 399,279 16,620 103,300 399,279
8 57 16,620 123,757 408,467 16,620 123,757 408,467 16,620 123,757 408,467
9 58 16,620 145,332 419,013 16,620 145,332 419,013 16,620 145,332 419,013
10 59 16,620 168,308 430,272 16,620 168,308 430,272 16,620 168,308 430,272

11 60 16,620 193,930 442,783 16,620 193,930 442,783 16,620 193,930 442,783

12 61 0 206,668 459,224 0 206,668 459,224 0 206,668 459,224
13 62 0 219,902 475,634 0 219,902 475,634 0 219,902 475,634
14 63 0 233,651 492,039 0 233,651 492,039 0 233,651 492,039
15 64 0 248,020 508,455 0 248,020 508,455 0 248,020 508,455

16 65 0 263,250 525,067 0 263,250 525,067 0 263,250 525,067

17 66 0 279,252 542,336 0 279,252 542,336 0 279,252 542,336
18 67 0 296,036 560,028 0 296,036 560,028 0 296,036 560,028
19 68 0 313,626 578,116 0 313,626 578,116 0 313,626 578,116
20 69 0 332,030 596,599 0 332,030 596,599 0 332,030 596,599

21 70 0 351,285 615,463 0 351,285 615,463 0 351,285 615,463

22 71 -27,948 342,068 584,242 -27,948 342,068 584,242 -27,948 342,068 584,242
23 72 -27,948 332,273 553,505 -27,948 332,273 553,505 -27,948 332,273 553,505
24 73 -27,948 321,896 523,191 -27,948 321,896 523,191 -27,948 321,896 523,191
Reflects non-guaranteed values and benefits which are based on assumptions that are subject to change by the insurer; therefore, actual results may
be more or less favorable.
This is a supplemental illustration which is not valid without the attached basic illustration. Refer to the basic illustration for guaranteed values and
benefits and other important information.

Please see the End Notes at the end of this ledger for important information.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 27 of 31
 *ILLUSTORIG 28*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Supplemental Illustration
ILLUSTORIG 28

Variable Loan Interest Rate Effect on Policy Performance

(cont.)
Loan Interest Rate of 9.00% Loan Interest Rate of 7.00% Loan Interest Rate of 5.00%
Annual Cash Death Annual Cash Death Annual Cash Death
End of Policy Cash Surrender Benefit Policy Cash Surrender Benefit Policy Cash Surrender Benefit
Year Age Flow Value (BOY) Flow Value (BOY) Flow Value (BOY)
25 74 -27,948 310,946 493,276 -27,948 310,946 493,276 -27,948 310,946 493,276

26 75 -27,948 299,378 463,778 -27,948 299,378 463,778 -27,948 299,378 463,778

27 76 -27,948 287,252 434,614 -27,948 287,252 434,614 -27,948 287,252 434,614
28 77 -27,948 273,998 413,118 -27,948 274,254 413,118 -27,948 274,510 413,118
29 78 -27,948 258,850 398,911 -27,948 259,963 399,168 -27,948 261,065 399,424
30 79 -27,948 241,610 382,535 -27,948 244,274 383,647 -27,948 246,882 384,750

31 80 -27,948 221,769 363,780 -27,948 226,783 366,443 -27,948 231,632 369,051

32 81 -27,948 199,266 342,023 -27,948 207,549 347,037 -27,948 215,459 351,887
33 82 -27,948 173,870 317,275 -27,948 186,472 325,558 -27,948 198,352 333,468
34 83 -27,948 145,273 289,568 -27,948 163,393 302,171 -27,948 180,249 314,050
35 84 -27,948 113,135 258,617 -27,948 138,135 276,737 -27,948 161,083 293,593

36 85 -27,948 77,079 224,004 -27,948 110,503 249,004 -27,948 140,774 271,952

37 86 -27,948 36,693 185,357 -27,948 80,293 218,782 -27,948 119,244 249,053
38 87 -2,622 19,079 167,623 -27,948 47,225 185,897 -27,948 96,350 224,848
39 88 17,189 20,188 166,826 -19,388 20,188 158,394 -27,948 71,972 198,959
40 89 18,341 21,243 166,231 9,493 21,243 157,383 -27,948 45,947 171,726

41 90& 19,616 22,222 165,833 10,338 22,222 156,556 0 47,419 170,922

42 91 20,909 23,141 165,517 11,187 23,141 155,795 0 48,447 169,804
43 92 21,918 24,200 164,745 11,731 24,200 154,557 0 49,558 168,133
44 93 23,145 25,129 163,291 12,474 25,129 152,620 0 50,289 165,504
45 94 24,782 26,186 161,564 13,613 26,186 150,395 0 50,483 161,942

46 95 26,514 27,251 159,994 14,836 27,251 148,316 0 49,914 157,777

47 96 28,507 28,132 159,024 16,311 28,132 146,828 0 48,096 153,180
48 97 30,639 29,411 158,914 17,917 29,411 146,193 0 45,426 148,239
49 98 32,523 30,293 159,825 19,265 30,293 146,567 0 41,333 143,317
50 99 33,858 31,856 160,945 20,039 31,856 147,127 0 37,469 138,127

51 100 34,978 33,213 161,071 20,570 33,213 146,663 0 33,214 131,706

52 101 0 36,568 124,155 0 36,568 124,155 0 36,568 124,156
53 102 0 39,820 124,141 0 39,820 124,141 0 39,820 124,141
54 103 0 42,946 123,913 0 42,946 123,912 0 42,947 123,913
55 104 0 45,949 123,501 0 45,949 123,501 0 45,949 123,501

56 105 0 48,808 122,965 0 48,808 122,965 0 48,809 122,965

Reflects non-guaranteed values and benefits which are based on assumptions that are subject to change by the insurer; therefore, actual results may
be more or less favorable.
This is a supplemental illustration which is not valid without the attached basic illustration. Refer to the basic illustration for guaranteed values and
benefits and other important information.

Please see the End Notes at the end of this ledger for important information.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 28 of 31
 *ILLUSTORIG 29*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Supplemental Illustration
ILLUSTORIG 29

Variable Loan Interest Rate Effect on Policy Performance

(cont.)
Loan Interest Rate of 9.00% Loan Interest Rate of 7.00% Loan Interest Rate of 5.00%
Annual Cash Death Annual Cash Death Annual Cash Death
End of Policy Cash Surrender Benefit Policy Cash Surrender Benefit Policy Cash Surrender Benefit
Year Age Flow Value (BOY) Flow Value (BOY) Flow Value (BOY)
57 106 0 51,426 122,387 0 51,426 122,387 0 51,426 122,387
58 107 0 53,857 121,813 0 53,857 121,813 0 53,857 121,813
59 108 0 56,102 121,266 0 56,102 121,266 0 56,103 121,266
60 109 0 58,211 120,754 0 58,211 120,754 0 58,211 120,755

61 110 0 60,121 120,241 0 60,121 120,241 0 60,121 120,241

62 111 0 61,737 119,732 0 61,737 119,732 0 61,737 119,733
63 112 0 63,149 119,249 0 63,149 119,249 0 63,150 119,250
64 113 0 64,385 118,782 0 64,385 118,782 0 64,385 118,782
65 114 0 66,241 118,265 0 66,241 118,265 0 66,241 118,266

66 115 0 67,863 117,634 0 67,863 117,634 0 67,864 117,635

67 116 0 69,556 117,132 0 69,556 117,132 0 69,556 117,132
68 117 0 71,478 116,702 0 71,478 116,702 0 71,479 116,702
69 118 0 73,267 116,392 0 73,267 116,392 0 73,268 116,393
70 119 0 75,382 116,310 0 75,382 116,310 0 75,383 116,310

71 120 0 77,566 116,514 0 77,566 116,514 0 77,567 116,514

72 121 0 112,321 115,444 0 112,321 115,444 0 112,321 115,445
Reflects non-guaranteed values and benefits which are based on assumptions that are subject to change by the insurer; therefore, actual results may
be more or less favorable.
This is a supplemental illustration which is not valid without the attached basic illustration. Refer to the basic illustration for guaranteed values and
benefits and other important information.

End Notes
Please refer to the Owner Actions Reflected In This Illustration page for an explanation of the Modified Endowment Contract status of the policy being
illustrated.
& Represents the insureds life expectancy added to the insureds age. See Additional Information section on the Narrative Summary page for more
information.
Loan interest accrues at the variable rates shown in the ledger up until the policy anniversary on which the insured reaches age 100. Thereafter,
interest accrues at a fixed rate of 4.00% per year.
Unless noted above, values shown are based on our current illustrative dividend scale and our current OPP expense charge of 8.00%.
Please refer to the Narrative Summary for Column Heading Definitions.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 29 of 31
 *ILLUSTORIG 30*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Supplemental Illustration
ILLUSTORIG 30

Policy Values Summary Graph

Illustrating Non-Guaranteed Current Values

Non-Guaranteed Current
End of
Year Age Cumulative Policy Cash Flow Cash Surrender Value Death Benefit (BOY)
1 50 16,620 4,823 372,734
5 54 83,100 66,175 384,890
10 59 166,200 168,308 430,272
15 64 182,820 248,020 508,455
20 69 182,820 332,030 596,599
21 70 182,820 351,285 615,463
41 90& -348,195 47,419 170,922
46 95 -348,195 49,914 157,777
Reflects non-guaranteed values and benefits which are based on assumptions that are subject to change by the insurer;
therefore, actual results may be more or less favorable.
This is a supplemental illustration which is not valid without the attached basic illustration. Refer to the basic illustration for
guaranteed values and benefits and other important information.
Please refer to the Owner Actions Reflected In This Illustration page for an explanation of the Modified Endowment Contract
status of the policy being illustrated.
& Represents the insureds life expectancy added to the insureds age. See Additional Information section on the Narrative
Summary page for more information.
Unless noted above, values shown are based on our current illustrative dividend scale and our current OPP expense charge of
8.00%.
Please refer to the Narrative Summary for Column Heading Definitions.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 30 of 31
 *ILLUSTORIG 31*
New York Life Insurance Company
New York Life Custom Whole Life Insurance
Supplemental Illustration
ILLUSTORIG 31

Cash Surrender Values Summary Graph

Illustrating Summary Values from the Yearly Detail page

End of
Year Age Guaranteed Cash Surrender Value Non-Guaranteed Current Cash Surrender Value
1 50 4,823 4,823
5 54 59,582 66,175
10 59 139,567 168,308
15 64 176,065 248,020
20 69 201,083 332,030
21 70 206,282 351,285
41 90& 306,201 952,735
46 95 325,304 1,179,116
Items in this supplemental illustration labeled non-guaranteed reflect non-guaranteed values and benefits which are based on
assumptions that are subject to change by the insurer; therefore, actual results may be more or less favorable.
This is a supplemental illustration which is not valid without the attached basic illustration. Refer to the basic illustration for
guaranteed values and benefits and other important information.
Please refer to the Owner Actions Reflected In This Illustration page for an explanation of the Modified Endowment Contract
status of the policy being illustrated.
& Represents the insureds life expectancy added to the insureds age. See Additional Information section on the Narrative
Summary page for more information.
Values shown are based on our current illustrative dividend scale and our current OPP expense charge of 8.00%.
Please refer to the Narrative Summary for Column Heading Definitions.

This illustration shows the continuation of the currently illustrated non-guaranteed elements which are not guaranteed and are based on assumptions
which are subject to change by the Company. In the future, the actual non-guaranteed elements and results may be more or less favorable than those
shown in the illustration. Refer to the "Narrative Summary" page for more information about the factors that may affect policy performance.
Prepared for Ardal's Client (Female, 49, Select Preferred), AD113
Prepared by ARDAL POWELL MA, PhD on 03/22/2017 (NYLIS v6.16.0.291) Page 31 of 31
Whole life provides a lifetime
of protection and value.
Guaranteed
death
benet1

Income Premium
Enhance the value of your whole tax-free
death
guaranteed
never to
benet
life policy with additional options: increase

The Option to Purchase Paid-Up Additions Rider allows

you to pay additional money into your policy to increase
your death benefit and cash value. The more you fund it,
the faster your cash value grows.
Tax-free Whole Guaranteed
cash value
access to cash

If you become totally disabled, the Disability Waiver of

values4 Life growth

Premium Rider can ensure that your policy remains in

force, and that your cash value continues to accumulate.
The Chronic Care Rider allows you to leverage your life Additional
Protected
insurance coverage to help mitigate the costs associated from
growth
through
with chronic-care needs. creditors3 dividends2

Tax-deferred
cash value
growth
Whole life is permanent cash value life insurance
that provides a holistic approach to protecting
and helping to build your financial future,
providing a lifetime of protection and value.
The death benefit is guaranteed.1
Your premium is guaranteed for the life of the policy,
which means the premium is guaranteed never to
increase, regardless of your health, the economic
environment, your age, or inflation. You can lock in
the price.
Your policy has guaranteed cash value that is
guaranteed to grow.
Because you are an owner of a participating policy
in a mutual company, your policy can have additional
cash value growth through dividends,2 which are
not guaranteed. However, keep in mind that once
dividends are paid, they cannot decrease in value.
A s the cash value grows, you do not pay income
taxes on it, allowing it to grow even faster.
P olicy values are generally protected from creditors,3
which provides peace of mind that the policy will be
there for you when you need it.
I f you choose to access the cash value in the policy
via policy loans,4 you can do so income tax free,
provided the policy is not a modified endowment
contract. And you can use this cash value for any
dream or need, whether its to help send a child
to college or provide additional income during
retirement.
When you die, the death benefit generally passes
income tax free to your beneficiaries.
New York Life Insurance Company
New York Life Insurance and Annuity Corporation
(NYLIAC) (A Delaware Corporation)
51 Madison Avenue
New York, NY 10010
www.newyorklife.com
14591.122016 SMRU1718752 (Exp.12.08.2018)
There are additional options available to
enhance your policy.
Because of the benefits of whole life, many clients
ask if they can put more money into their policies,
and the Option to Purchase Paid-Up Additions Rider
allows you to do that.5
The optional Disability Waiver of Premium Rider,
available at an additional cost,6 will ensure that
the premiums are put into your policy if you are
completely disabled. This means that the death
benefit and the cash values will still be there for
your family. Another great feature of the rider
is that scheduled Option to Purchase Paid-Up
Additions premiums will continue to be paid into
the policy in the event that you are disabled.7
The Chronic Care Rider,8 also available at an
additional cost, provides you with protection from
the financial hardships of chronic care by offering
tax-free acceleration of a portion of the policys
face amount in the event that the insured becomes
chronically ill. Once the insured is certified as
chronically ill by a licensed health care practitioner,
we will pay benefits to use as you wishno receipts
or plan of care needed.
With these additional options, your whole life
insurance can provide protection for your family
when you die or become disabled, or provide a source
of cash should you need it for any of lifes events,
including a chronic illness.
In Oregon, the policy form number for New York Life
Whole Life and New York Life Custom Whole Life is
ICC15216-50P. The rider form numbers are as follows:
Disability Waiver of Premium: ICC13213-215; Option
to Purchase Paid-Up Additions:ICC14215-330 and
ICC14215-333; and Chronic Care: ICC13-231-72.
1
All guarantees are based on the claims-paying ability of the issuer.
2
Dividends, which provide opportunity for cash value growth,
are not guaranteed.
3
Varies by state and may be limited.
4
You can access the cash value in your policy, generally tax free,
via partial surrenders and policy loans. Policy loans and surrenders
reduce the policys cash value and death benefit. Loans also
accrue interest.
5
Within certain limits and conditions in jurisdictions where
approved, there is an upfront expense charge on the Option
to Purchase Paid-Up Additions premium. Please consult your
New York Life agent for complete information.
6
There is no additional charge for the Waiver of Premium Rider
on all newly issued standard or better whole life policies with
face amounts of $99,999 or less, for issue ages under 60.
7
Disability Waiver of Premium on a life insurance policy
automatically applies to a billed Option to Purchase Paid-Up
Additions Rider, thus scheduled Option to Purchase Paid-Up
Additions payments will be made and your base policys cash
value and death benefit will continue to increase if you are
totally disabled under the terms of the policy contract.
8
At issue, you elect a portion of your base face amount that
will be eligible for acceleration under this rider (Chronic Care
Benefit Pool). You also elect the benefit period of 25, 50, or 100
months. The benefits will be paid on a monthly basis, or annually
if elected by the owner. The benefit period is selected at issue
and is subject to policy minimums and maximums, and to federal
limits. To be chronically ill means that the insured is unable to
perform two out of six activities of daily living (bathing, dressing,
eating, toileting, transferring, or continence) for at least 90 days,
or has severe cognitive impairment. This rider is available on
newly issued and select in-force Whole Life (WL) and Custom
Whole Life (CWL) policies.
Just the facts about New York Life...

Custom Whole Life Insurance

Issuing company New York Life Insurance Company Choose the
premium-paying
Issue ages 0-70 period that works
for you.
Face amount Minimum: $50,000
Minimum of $100,000 if the determined risk class is Select
Preferred or Preferred.
Risk classes Select preferred, preferred, nonsmoker, select standard,
standard, juvenile (ages 0-17), and nonsmoker/standard
special classes 2-13.

Premium modes1 Annually, semiannually, or Check-O-Matic

Dividend options Earns dividends declared by New York Life. Dividends are not
guaranteed.2 New York Life offers several ways to use these
dividends, including:
Paid-Up Additions Increase your coverage by using
dividends to purchase additional, paid-up life insurance.
Dividend Accumulation Leave your dividends on deposit
with New York Life to earn taxable interest.
Premium Payment Use your dividends to pay part or all (if
sufficient) of the policy premium.
Cash Receive any dividends paid in the form of a check.

Premium-paying Becomes automatically paid-up after the premium-paying

period period you select, meaning no further premiums are due while
your life insurance coverage continues. The premium-paying
period cannot be less than five years or extend beyond age 75.

Policy loans3 Borrow up to the maximum loan value from your policys cash
value through policy loans, generally on a tax-free basis.

Loan interest Features a variable loan interest rate that may increase or
rate decrease over time. New York Life sets the loan interest rate
quarterly.4
 Periodic Policys cash values can be accessed during your lifetime
payment through a periodic payment arrangement after the policy is
options5 fully paid up. You can receive your periodic payments on an
annual or monthly basis through an automatic deposit into
your bank account or in the form of a check.

Premium Allows the policy owner to prepay up to nine annual

Deposit Account6 premiums with a single deposit while earning a competitive
interest rate thats locked in for the length of the agreement.
Once the Premium Deposit Account is funded, the policys
annual premium is automatically paid each year directly from
the Premium Deposit Account for the agreement period.
Future premiums are discounted when you deposit money
into the Premium Deposit Account.7

Available riders8 Choose from a wide variety of policy riders to customize

your policy:
Accidental Death Benefit Provides an additional death
benefit equal to the face amount of the policy if the insured dies
as a result of an accident prior to age 70 ($300,000 maximum).
Available for purchase.
Childs Protection Benefit Provides for premiums to be
waived until the policy anniversary closest to the childs 25th
birthday, in the event the premium payer (parent or guardian)
dies or becomes disabled. Available for purchase.
Chronic CareProvides protection from the financial
hardships of chronic care by offering tax-free acceleration
of a portion of the Custom Whole Life policys face amount
when the insured is certified as permanently chronically ill, as
defined in the policy. Available for purchase only at
policy issue.9
Disability Waiver of Premium With the purchase of this
rider, New York Life will waive premiums should the insured
become totally disabled, as explained in the policy. Available
for purchase.10
Dividend Option Term Combines a decreasing term
rider with the paid-up additions dividend option. Each year,
the amount of term insurance decreases automatically by
the same amount as the increase in permanent insurance
provided by the paid-up additions. The remaining term
insurance may be convertible to any whole life policy New
York Life makes available on an attained age or original age
basis. Available for purchase.
Extension of Premium-Paying Period Allows the policy
owner to increase the premium-paying period of their
policy in order to make individual premium payments more
affordable. This change can only be elected once, and must be
made in the first five policy years.
Insurance Exchange Provides for the transfer of policy
coverage to a successor insured, subject to evidence of
good health. There may be a cost to exercise this rider
depending on the policy value adjustments that occur when
the insured is changed.
Living Benefits Allows a portion of the policys eligible
death benefit to be accessed should the insured be diagnosed
with a terminal illness with a life expectancy of 12 months or
less.11 This rider is included with your policy; however, theres
a cost to exercise this rider.
Available riders8 Option to Purchase Paid-Up Additions An economical way
(Continued)
to increase your death benefit protection and build more cash
value. OPP premiums are used to purchase additional, paid-up
life insurance that has cash value and loan value, and is eligible
for dividends.2 There is a front-load/back-end sales charge.
Payer Protection Benefit Waives premiums if the covered
premium payer (who is not the insured) becomes totally
disabled, as explained in the policy.
Policy Purchase Option Guarantees the option to
purchase additional insurance at certain ages and special life
events, without having to provide evidence of insurability.
Available for purchase.
Insureds Paid-Up Insurance Purchase Option Rider At the
time of the insureds death, gives the spouse/beneficiary the
right to purchase a new paid-up life insurance policy on his/
her life without having to provide evidence of insurability.
1
I f you pay your premiums other than annually, the total premium you pay
each year will be more than the annual premium.
2
Dividends are based on the policys applicable dividend scale, which is
neither guaranteed nor an estimate of future performance. Although
dividends cannot be guaranteed, New York Life has paid annual dividends
to policy owners for more than 150 consecutive years.
3
Policy loans accrue at a variable loan interest rate and reduce the total cash
value and total death benefit by the amount of the outstanding loan and
accrued loan interest.
4
In South Carolina and Tennessee, the variable loan interest rate is set no
more than once every 12 months.
5
The periodic payments can be funded by the guaranteed policy cash
value and/or surrenders of paid-up additional insurance purchased by
nonguaranteed dividend values. Periodic payments include dividend
values that are not guaranteed.
6
Available for policies with an annual premium mode. Withdrawals made
during the agreement period are subject to a 10% penalty on the remaining
balance in the account.
7
Discount is earned through taxable interest on the Premium Deposit
Account. The Premium Deposit Account is a feature in all states with the
exception of Illinois, Indiana, Kansas, Pennsylvania, Tennessee, Texas, and
Washington. In these states, the Premium Deposit Account is a rider.
8
Not all riders are available in every state and some states vary the terms
of certain rider features. Additional limitations and conditions may apply.
Please speak to your New York Life agent for complete information.
9
For Custom Whole Life policies, once the base policy is fully paid up, the
Chronic Care Rider will also be fully paid, and coverage will remain in force
without any additional premiums due. This rider is available to insureds of
ages 18 through 70.
10
This rider is available to insureds of ages 0 through 59. In Maryland and
Montana, this rider is not available until the insured has reached his or her
fifth birthday.
11
Various states have established different life expectancy periods once
terminal illness is diagnosed.

All guarantees are based upon the claims paying ability of the issuer.
New York Life Insurance Company
51 Madison Avenue
New York, NY 10010
www.newyorklife.com

14256.RB.062016 SMRU1694206 (Exp.05.11.2018)

Just the facts about New York Life...

Disability Waiver of
Premium Rider
Issuing company New York Life Insurance Company An affordable way
for individuals or
business owners
Purpose Enables you to stop paying policy premiums for the length to ensure
of your total disability, while continuing to receive life continuation
insurance coverage. This rider is available at an additional of crucial life
cost and can be purchased at issue or subsequent to issue1 insurance
coverage
(subject to underwriting).
while waiving
premiumsshould
Products featuring Custom Whole Life; Family Protection Insurance; Level total disability
rider Premium Convertible Term 10-20; Whole Life; Custom prevent you
Survivorship Whole Life; and Yearly Convertible Term from working.

Qualifying criteria Insured must be continuously and totally disabled for at least
six consecutive months. The exact terms and limitations of
total disability are defined in the rider, but, in general, the
following applies:
D
 uring the first two years of disability, you are considered
totally disabled when you cannot perform the essential acts
and duties of your job because of disease or bodily injury.
A
 fter two years of disability, total disability means you
cannot perform the essential acts and duties of any job
for which you are suited based on schooling, training, or
experience because of disease or bodily injury.
T
 o prove total disability, you must provide written proof of
disability, typically a physicians statement. New York Life
then decides eligibility for the waiver benefit.
How it works:
Once total disability has been established, you will no longer
be required to pay your regularly scheduled premiums for
the duration of the disability.
Any premiums paid after the date of disability will be
refunded when you meet the six-month qualification.

This material must be preceded or accompanied by the appropriate

product fact sheet. Please ask your agent for a copy of the product
fact sheet.
Qualifying The benefits provided for total disability will vary based on the age
criteria when the insured becomes disabled, the length of disability, and
(Continued)
type of policy owned.
Whole Life; Custom Whole Life; or Custom Survivorship
Whole Life
If total disability begins on or before the policy anniversary at
which the insured turns age 60 and continues beyond the policy
anniversary at which the insured turns age 65, premiums will be
waived until the premium-paying period ends. No further proof
of disability will be needed.
If total disability begins after the policy anniversary at which the
insured turns age 60, premiums will be waived (while the disability
continues) up to the policy anniversary at which the insured turns
age 65.
The rider benefit is not available if disability begins on or after the
policy anniversary at which the insured turns 65 or prior to age five.
There is no separately identified charge for face amounts under
$100,000, unless there is another rider attached to the policy.
If your policy includes the Dividend Option Term Rider, your out-
of-pocket Dividend Option Term premium will be waived during
the riders initial premium-paying period.2
For Custom Survivorship Whole Life, coverage can be selected
for one or both the insureds. If the selected insured becomes
disabled, the entire policy premium will be waived.
Yearly Convertible Term; or Level Premium Convertible
Term 10-20
If a total disability begins on or before the policy anniversary at
which the insured turns age 60, premiums will be waived as long
as the insured remains totally disabled on or beyond the policy
anniversary at which the insured turns age 65. Premiums will be
waived until the policy anniversary at which the insured turns age
80, or earlier, depending on the terms of your particular policy. At
that time, we will replace the term life policy with a whole life policy
for the same amount, with premiums waived for life.
If a total disability begins after the policy anniversary at which the
insured turns age 60, premiums will be waived up until the policy
anniversary at which the insured turns age 65, as long as you
remain totally disabled.
Family Protection Insurance
One or both adult insureds may purchase the Disability Waiver
of Premium Rider, but only when you first purchase the policy.
Because this type of insurance is a joint life policy, we recommend
that both adults elect the Disability Waiver of Premium Rider
to ensure maximum financial protection in case of disability.
Only one claim can be exercised at any given time, even if both
insureds become disabled simultaneously or concurrently.
If total disability begins on or before the policy anniversary at
which the covered insured turns age 60 and continues beyond the
policy anniversary at which the insured turns age 65, premiums will
be waived until the policy anniversary at which the disabled insured
turns age 80. At that time, we will issue a whole life policy for each
living adult insured, with premiums waived for life. Please see the
rider for additional information.
 Qualifying If total disability begins after the policy anniversary at
criteria which the insured turns age 60, premiums will be waived up
(Continued)
until the policy anniversary at which the insured turns age
65, as long as the covered insured remains totally disabled.

Working with Your Disability Waiver of Premium Rider works with your
Option to scheduled Option to Purchase Paid-Up Additions Rider
Purchase Paid- (available on Whole Life, Custom Whole Life, and Custom
Up Additions Survivorship Whole Life). If your base policy premiums are
Rider being waived, your scheduled Option to Purchase Paid-
Up Additions Rider payments will be waived as well. So
your policys cash value and death benefit will continue to
increase if you are totally disabled and meet the terms and
conditions of your Disability Waiver of Premium Rider.
1
 or Family Protection Insurance, available at issue only. The Rider cannot
F
be added to Family Protection Insurance at a later date.
2
The initial premium-paying period for the Dividend Option Term rider will
be five years for Custom Survivorship Whole Life and five-pay Custom
Whole Life and six years for six-pay Custom Whole Life policies.

In Oregon, the policy form numbers are as follows: Yearly Convertible

Term: 210-135.27; Level Premium Convertible Term: 210-60.27; Family
Protection Insurance: 206-110.27; Whole Life and Custom Whole Life:
ICC12213-50; Custom Survivorship Whole Life: ICC13213-100. The
Disability Waiver of Premium Rider form numbers are as follows: with Level
Premium Convertible Term and Yearly Convertible Term: 210- 235.27;
with Family Protection Insurance: 206-245.27; with Whole Life, Custom
Whole Life, and Custom Survivorship Whole Life: ICC13213-215. The rider
form number for the Option to Purchase Paid-Up Additions Rider with
Whole Life, Custom Whole Life, and Custom Survivorship Whole Life is
ICC13213-355.
New York Life Insurance Company
51 Madison Avenue
New York, NY 10010
www.newyorklife.com

13871.RB.102015 SMRU1671037 (10.28.2017)

What you need to know about
the Option to Purchase Paid-Up
Additions (OPP) rider
Availability of OPP Minimums
A
 utomatically included on most regularly underwritten Lump-sum (per transaction): $120
issues of Whole Life, Custom Whole Life, Modified Premium Check-O-Matic or Auto-OPP (per transaction): $10
Whole Life, and Survivorship Whole Life (SWL). Expense charge
A
 vailable with underwriting approval for term conversion 1 T
 here is an 8% expense charge for all AD 113 and
and PPO option policies. subsequent OPP series payments for standard or
better risks.3
N
 ot available on policies with an aviation exclusion clause
or on guaranteed issue policies. - Expense charges for substandard policies are higher.
- Only AD 95 and subsequent editions of OPP are eligible
O
 n SWL, both insureds must be alive to begin an Auto-OPP for substandard OPP rider (the expense charge will vary
(Billable OPP) arrangement, and for any unscheduled OPP according to substandard rating class).
payments.
OPP payments made after policy anniversary
Premium guidelines
 If an OPP payment is made within 31 days of the policys
Premium modes anniversary, Paid-up additions purchased under the OPP
Lump-sum rider are not adjusted, except for the expense charge.
Direct billed on the same mode as base plan   Payments made more than 31 days after a policy
Check-O-Matic anniversary provide less annual investment return;
Maximums therefore, paid-up additions must be adjusted from the
date the OPP premium is received. This adjustment is
Contractual limit is 1x ASBP2; however, we allow: based on an Interpolated Net Single Premium (INSP).
Lump-sum:
 The INSP method calculates the net single premium on
- 10x ASBP in first year
the date a payment is made. The INSP is based on the
- 8x ASBP in second year
amount of time between policy anniversaries. This off-
- 6x ASBP in third year
anniversary net single premium is used to determine the
- 4x ASBP in fourth year
amount of paid-up insurance purchased. The first dividend
- 2x ASBP in fifth and subsequent years
paid after the OPP payment is also adjusted to reflect
(Up to 10x ASBP may be available with underwriting
that the premium was only available for part of the year.
in years 2 and later.)
Subsequent dividends will not be adjusted unless future
Check-O-Matic/Auto-OPP: OPP premiums are made off policy anniversary. Unlike
- 2x ASBP without underwriting the Late Payment Adjustment Factor (LPAF), there will
- 5x ASBP with underwriting (maximum) no longer be an additional upfront charge or an upfront
Special Note: adjustment to the cash value. The net single premiums are
No individual decision-maker, household, or entity now guaranteed and stated within the policys data pages.
is allowed more than $2 million in cumulative OPP
premium across all policies. Policies under $50,000
and substandard policies are limited to 10x ASBP with
additional underwriting.
How to keep the OPP rider active
I nitial OPP payment must be made by the policys second
anniversary.
OPP will terminate if no payments are made for three
consecutive policy anniversaries.
If OPP lapses, it may be eligible for reinstatement with
proof of good health.
Addition of OPP riderConsult your underwriter
about the requirements for adding the OPP rider to an
in-force policy.
Cash value
O
 PP has cash and loan value and can be used to help
POP4 a policy.
The cash value at the end of the policy year of payment is
equal to the amount of paid-up additions, times the net
single premium for the attained age.
- AD 87the guaranteed cash value is equal to the
amount of premium remitted.
- AD 93 through AD 114the guaranteed cash value
is equal to the OPP payment, minus the expense
charge,3 minus the LPAF (if applicable).
-A
 D 115 and subsequentthe guaranteed cash value
is equal to the OPP payment, minus the expense
charge and INSP adjustment.
OPP paid-up additions are eligible for dividends if
declaredAD 87 and subsequent OPP:
- OPP paid in year 1 is eligible for dividends at end
of year 2.
- OPP paid in year 2 is eligible for dividends at end
of year 3.
Term conversions
Term policies/riders converted within the first five years are
eligible for OPP.
- Limited to 10x ASBP if the term policy is converted
in year 1.
- Limited to 8x ASBP if the policy is converted in year 2.
- 1x if the policy is converted in years 3-5.
U
 p to 10x ASBP may be available with underwriting in
years 2 and later. Any amount of OPP added after year 5
will require underwriting.
Disability
No OPP payments can be remitted during a time of
disability in which premiums are being waived; the OPP
rider does not terminate during disability.

AD 98 and subsequent OPP includes a Waiver of
Premium (WP) on Billable OPP feature. If the base
plan has WP, Billable OPP automatically has WP. There
is a charge for WP on Billable OPP. All Billable OPP
payments will be waived during the disability period.
No unscheduled OPP premiums can be remitted during
disability.
Commissions
Commissions are paid as OPP payments are made.

The servicing agent must be the agent of record in
order to receive a commission, provided the original
writing agent is no longer active or vested in the policy.
A 3% commission is payable on all AD 87 and subsequent
OPP payments remitted, regardless of year.
- Limited to 1x ASBP without underwriting.
- Amounts over 1x ASBP require underwriting.
AD 82-85 OPP (Old OPP) payments received a 3%
commission in the first policy year only.
- Old OPP rider payments made in second and
subsequent policy years earn dividends in the
year of payment; therefore, there is no margin
for commission.

AD113 commission chargebacks.5
- Chargeback will be 100% on any partial surrenders
within one year of OPP deposit.
- No chargeback on full surrenders.

1
I f term policy is converted during first five policy years, no underwriting for OPP is required for 1x the ASBP.
2
Annual Standard Base Premium includes the policy fees but does not include any riders.
3
The expense charge on AD113 OPP is a non-guaranteed element and subject to change. The expense charge on previous OPP series is fixed and
may differ from the current expense charge on AD113 OPP. The expense charge may be higher if the risk class on OPP is below standard.
4
Premium Offset Proposal, in which paid-up additional insurance is surrendered for its cash value to pay policy premiums.
5
Commission chargebacks differ for previous AD OPP series.

For Internal Use Only.

New York Life Insurance Company

51 Madison Avenue
New York, NY 10010
www.newyorklife.com

14208.RB.072015 SMRU1656345 (Exp.06.26.2017)

A closer look
at dividends.
How they help build value for the long term.
Our dividend
advantage.
The combined success of all of our
operations is what contributes
to a truly unmatched showing
of financial strength in todays
low interest rate environment.
Our life insurance business is the
core of that financial strength
and provides us with a solid
foundation.
Our other businesses have grown
significantly and now generate
strong earnings. As a mutual
company, we are able to pass
Projected Dividend Payout to
Whole Life Policyholders2016 vs. 2017
2016
$1.63 billion
2017
$1.71 billion
2
a portion of the earnings from
other businesses in the form of
dividends to our participating life
policyholders.
Over the past several years in
particular, we have leveraged
our investment management
expertise by managing money
for third parties (both institutions
and individuals), while providing
investment products and
services for New York Life
clients. New York Life Investment
$82
million
over the
2016 level.
Management is now a growing
source of earnings and is a
contributor to ourdividend.
As a mutual company, we dont
have shareholders, which
means we can manage every
dollar of value we create with
the long-term interests of our
policyholders in mind. One of
the ways we can do this is to
reflect the earnings of our other
businesses in the dividends
we pay.
As a mutual company,
a portion of the
earnings from our
other businesses
contributes to the
dividends that we pay
to our participating
life policyholders.
What is a dividend?
When you purchase a participating life insurance policy, you pay premiums in exchange for
death benefit protection and tax-deferred cash value growth.
After paying claims and expenses, and putting aside the needed reserves for future
benefitsas well as surplus to cushion against unforeseen eventswe then determine the
amount of remaining surplus to distribute to our policyholders. This is called the dividend.

Who receives dividends?

Policyholders who own our participating whole life products
share in any annual dividends that are declared.1

What makes up a dividend?

Traditionally, there are three major components that enter into a dividendcalculation.
Investment Mortality Expense
results. experience. management.
Our prudent investment strategy balances Our mortality experience Like any other
return with appropriate risk. We invest is based on the amount company, we incur
participating life insurance policy premiums of death claim payments operating costs,
in a portfolio comprised mostly of high-grade made to beneficiaries. taxes, and other
corporate, mortgage-related, and government If our claims experience expenses. If these
bonds and loans. The balance of the portfolio differs from what we expenses differ
is invested in equity-type assets. Because we anticipated, this may from what was
invest primarily in bonds, interest rates influence be reflected in the expected, this may
our investment returns, and thus affect the dividend we distribute to be factored into the
dividends distributed to policyholders. policyholders. dividend.

But theres another component that sets

New York Life apart: Mutuality.
Remember, when we generate strong earnings beyond our core life insurance business, we can share
a portion of the earnings from across our other business lines with participating policyholders in
the dividend.

1
Its important to remember that dividends are not guaranteed. Some policies are participating, but are not expected to receive dividends.

3
What is a dividend interest rate?
The dividend interest rate (DIR) is a factor used within the investment
component of the dividend calculation. It is important to note that
the DIR is not a rate of return the client will earn. There is no standard
practice that companies have to follow in determining their DIRs. On its
own, the DIR should not be used to evaluate policies in terms of cost,
benefits, and performance. However, it can be useful to look at the
relative year-over-year changes in companies DIRs.
Bottom line: The company with the highest DIR may not pay the highest
dividend, and a higher DIR may not necessarily result in a higher cash
value or larger death benefit in the long term. The DIR is one of several
factors to consider when comparing policies.

4
A closer look at our
investment strategy.2
Our investment philosophy is based on a careful risk-return analysis. These are some of
the guiding principles and disciplines that we believe form the basis for sound investing.

Maintaining Insisting on getting paid Maintaining ample

diversification. We do for taking risk. If we do not liquidity. We ensure we
not take outsized stakes think a security is priced have enough liquid assets
in any single investment right, we will not invest. to meet our obligations to
opportunity, no matter how our policyholders.
attractive it mayappear. Taking a long-term view.
We invest for the long term Leading, not following, the
Conducting our own because we make long- crowd. We have learned
research. We do our own term commitments to our over the years to avoid
fundamental, bottom- policyholders. We will and the frenzy of overheated
up research, rather than do forsake the potential of markets and the panic when
relying on the analyses short-term gains in order to marketstumble.
ofothers. preserve long-termsafety.

Ordinary Life Portfolio Public investment grade

Smart investors
as of 12/31/15* Private investment grade
understand the
U.S. government

1%
and agencies importance
16% 13% Non-agency
investment-grade
of portfolio
CMBS/ABS/MBS
diversification.
Below-investment-grade
loans and securities Heres a look
12%
Mortgage loans
at the current
19% Equity and
other interests asset allocation
Policy loans
of our ordinary
Cash and short-term
investments life portfolio.
12%
Source: New York Life data.
* This portfolio is for ordinary
life products sold after 1981,
6% 15% which represent the bulk of the
companys ordinary life assets.
6%
Excludes derivative holdings.

2
Diversification does not assure a profit or protect against market loss. There is no guarantee that any investment strategy will be successful.

5
Why dividends
are so valuable.
Dividends can be used to build the value of your policy, or may even be an History of
important source of income and savings. Policy owners can choose from dividends
four options when a dividend isdeclared:
Our policyholders
have been paid
1. Paid-up additions: Dividends can be used to pay for increased life
insurance coverage without additional underwriting. These paid-
up additions will increase the death benefit and help your policy
dividends
every year since
generate more cash valueand since your cash value grows tax
deferred, that means more money for you and your beneficiaries.
Plus, if you use your dividends to purchase more insurance, this
additional coverage will also be eligible for dividendsadding
benefit on top of benefit.
1854
2. Pay premiums: Dividends can pay a portion of your premiums,
lowering out-of-pocket expenses.

3. Cash: You can receive dividends in the form of cash,

which you can use any way you see fit.

4.  ividend accumulation: Dividends can be deposited with

D
New York Life, where they can earn interest.3

3
Interest that is credited through the dividend accumulation option is subject to taxation.

6
Lets see what history has to say about it.
For more than 170 years, New York Life has been serving policyholders
and dividend payments have been a consistent part of the policyholder
experience. Were proud of our long history of paying dividends and
our status as a Fortune 100 company, but were even more proud of
our history of financial strength. We will always strive to balance paying
dividends with the ongoing financial strength of the company. Protecting
our policyholders is our most importantmission.

Actual total company dividends paid by calendar year:

1993 $1,091,569,940 2001 $1,515,041,799 2009 $1,410,393,182
1994 $1,101,567,759 2002 $1,404,018,831 2010 $1,322,303,510
1995 $1,148,708,053 2003 $1,295,469,736 2011 $1,364,842,741
1996 $1,228,583,773 2004 $1,360,562,955 2012 $1,307,739,392
1997 $1,197,323,389 2005 $1,406,340,257 2013 $1,379,821,528
1998 $1,281,517,987 2006 $1,486,820,556 2014 $1,529,211,973
1999 $1,362,439,578 2007 $1,534,038,151 2015 $1,685,184,876
2000 $1,437,298,714 2008 $1,664,950,080 2016 $1,719,000,000*

A++ AAA Aaa AA+

Source: NAIC Annual Statement for applicable year, Exhibit 4, line 9.
*Estimated 2016 dividends. At the time of this printing, year-end results were not yet available.

Superior Exceptionally Exceptional Very Strong

Why New York Life? Strong
Standard
A.M. Best Fitch Moodys & Poors
We offer a selection of different policies and premium-paying periods
that help you protect the people and things you care about most. And
since no two policyholders are exactly the same, we also offer a variety Financial strength
of riderssome at additional costthat are designed to customize New York Life
A++ AAA A++
many of our products to fit almost any situation andbudget.
Superior A.M. Best
has more than
Our portfolio of products,
Superior our strength, and our history of providing
Exceptionally
value are what make us stand out in the industry.
A.M. Best
Strong
Fitch
AAA
Exceptionally
Strong Fitch 170
Aaa AA+ Aaa Exceptional Moodys years of experience
helping policyholders
Exceptional
New York LifeVery
highest ratings
Strong to enjoy the
continues
currently possible for life
Standard
Very Strong AA+ Standard
& Poors
build a strong
financial future.
Moodys
insurers from&all
Poors
four major ratingagencies.

A++ AAA Aaa AA+

Superior Exceptionally Exceptional Very Strong
Strong
Standard
A.M. Best Fitch Moodys & Poors
July 15, 2016 March 29, 2016 August 9, 2016 June 20, 2016

7
In Oregon, the New York Life Whole Life and
Custom Whole Life policy form number is ICC15216-50P

New York Life Insurance Company

51 Madison Avenue
New York, NY 10010
www.newyorklife.com

14842.122016 SMRU1673551 (Exp.11.15.2017)

A look at the ordinary life
portfolio for whole life.
When you purchase a participating whole life insurance policy from New York Life,
youre choosing more than just the fundamental financial protection provided
by the policy. A whole life insurance product from New York Life can be a wise addition
to a well-rounded financial portfolio with a promise to pay a death benefit. An
We do whats in the
important component contributing to our claims-paying ability is an investment
best interest of our
strategy that seeks to withstand any economic condition.1
policy owners
Why does the investment portfolio matter to you? Even though you are not directly which means staying
investing in the investment portfolio, a well-managed portfolio bolsters the insurers financially strong.
ability to pay claims and credit a competitive fixed rate to the cash value. New York Life
has received the highest ratings for financial strength currently rewarded by all four
major rating agencies.2 A well-allocated portfolio and outstanding claims-paying ability
mean that as a New York Life Whole Life policy owner youre choosing a company
thats built to last.

Our investment philosophy is built on the following guiding principles

that we believe form the basis for sound investing:
Maintaining diversification.3 We invest across several asset classes and sectors,
and avoid outsized stakes in any single investment. While New York Life is not immune
to what occurs in financial markets, our diversified portfolio helps ensure that no single
investment should cause you, or us, undue concern.
Conducting our own research. Rather than relying on subjective third-party research,
we independently make our own investment decisions based on our own
bottom-upresearch.
Insisting on getting paid for taking risk. We make investments based on careful
risk-return analyses.
Taking a long-term view. We invest for the long term because we make long-term
commitments to our policy owners. We will and do forsake the potential of short-term
gains in order to preserve long-term safety.
Maintaining ample liquidity. We ensure we have enough liquid assets to meet our
obligations to our policy owners.
Leading, not following, the crowd. We have learned over the years to avoid the frenzy
of overheated markets and the panic when markets tumble.

1
Guarantees are dependent upon the claims-paying ability of the issuing insurer.
2
Source: Individual Third-Party Ratings Reports from A.M. Best (A++), Fitch (AAA), Moodys Investors Service
(Aaa), Standard & Poors (AA+) as of 8/11/15.
3
Diversification does not assure a profit or protect against market loss.
 Smart investors understand the importance of keeping a portfolio diversified.
Heres a look at how our own investments are diversified.
D
 iversified across asset classes. New York Lifes investments are spread across asset classes, such as
public and private corporate bonds and loans, U.S. government and agency securities, mortgage loans,
asset-backed securities, mortgage-backed securities, and equities.
H
 igh quality investments. More than 90% of the fixed income portion of the portfolio is in
investment-gradesecurities.
L
 imited exposure to any one issuer. Our 10 largest corporate bond holdings comprise less than
2% of the total portfolio.
Ordinary Life Portfolio as of 12/31/154
Source: New York Life data
1% 13%
16% Public investment grade
Private investment grade
U.S. government & agencies
19%
12% Non-agency investment grade CMBS/ABS/MBS
Below investment grade bonds, loans and securities
Mortgage loans
Equity and other interests
12%
15% Policy loans
6% 6% Cash and short-term investments

Top 10 holdings.
New York Lifes investment philosophy is well-represented in the top corporate bond holdings that support
the companys whole life policies. Not overly represented in any one sector, this diversified, high-quality group
represents less than 2% of the total whole life-backing portfolioan extremely limited exposure. These top
10 holdings have an average S&P rating of A+.
Ordinary life Top corporate bond holdings as of 12.31.15
Issuer % of Port. Industry
1 TPF Equity REIT operating 0.21% REITs
partner
2 Norway (Kingdom of) 0.15% Utilities
3 United Technologies Corp 0.15% Conglomerates/diversified mfg.
4 Stockland 0.15% REITs
5 Duke Energy Corp 0.15% Utilities
6 Meijer Inc. 0.14% Consumer products
7 Basin Electric Power Cooperative 0.14% Utilities
Inc
8 APA Group 0.14% Energy
9 ConocoPhillips 0.13% Energy
10 Lesaffre 0.13% Consumer products
Totals 1.48%

4
 his portfolio is for ordinary life products sold after 1982, which represent the bulk of the companys ordinary life assets. Excludes
T
derivative holdings. For illustrative purposes only. While New York Life stands behind the guarantees provided by our whole life
policies, this does not mean that our investment strategy is immune from fluctuations in the financial markets. There is never an
assurance that any investment strategy will be profitable or successful. New York Life Whole Life insurance is issued by New York Life
InsuranceCompany.
In Oregon, the New York Life Whole Life and Custom Whole Life policy form number is ICC15216-50P.

New York Life Insurance Company

51 Madison Avenue
New York, NY 10010
www.newyorklife.com

AR07043.032016 SMRU1631306(Exp.03.31.2017)
Adding flexibility to your portfolio
can help preserve your wealth.
When you purchase a permanent life insurance policy to protect those you care about, you gain access to
cash valuea valuable tool that can help preserve your wealth.
We all know that the market has its ups and downs. After a down year, withdrawing money from your
investment account can lock in losses, quickly depleting your balance.

Account alone

S&P 500 Barclays Agg. Bond Performance 35% S&P Beginning of Year Annual End of Year
Age
Return1 Index Return1 65% Bond Index2 Balance Withdrawal Balance

65 -11.89% 8.43% 1.32% $1,000,000 ($80,000) $932,126

66 -22.10% 10.26% -1.07% $932,126 ($80,000) $843,042
67 26.86% 4.10% 12.07% $843,042 ($80,000) $859,971
68 10.88% 4.34% 6.63% $859,971 ($80,000) $831,675
69 4.91% 2.43% 3.30% $831,675 ($80,000) $776,466
70 15.79% 4.33% 8.34% $776,466 ($80,000) $754,558
71 5.49% 6.97% 6.45% $754,558 ($80,000) $718,080
72 -37.00% 5.24% -9.54% $718,080 ($80,000) $577,182
73 26.46% 5.93% 13.12% $577,182 ($80,000) $562,390
74 15.06% 6.54% 9.52% $562,390 ($80,000) $528,323
75 2.11% 7.84% 5.83% $528,323 ($80,000) $474,480
76 16.00% 4.22% 8.34% $474,480 ($80,000) $427,392
77 32.39% -2.02% 10.02% $427,392 ($80,000) $382,213
78 13.69% 5.98% 8.67% $382,213 ($80,000) $328,421
79 1.38% 0.06% 0.52% $328,421 ($80,000) $249,709

Returns based on a Years when the In this scenario, after

35% blended portfolio35% portfolio is down. 15 years of withdrawals the
65% stocks, 65% bonds. account is left with $249,709.

1
 ased on historical S&P 500 and Barclays Aggregate Bond Index returns for the years 20012015. The 20012015 time period was selected because it
B
represented the most recent 15-year period.
2
Returns based on a blended portfolio of 35% stocks and 65% bonds.
Hypothetical example for illustrative purposes only. It does not represent the actual performance of any investments. Individual results will vary and may be
more or less favorable, depending on factors like withdrawal rates, taxes, fees/expenses and charges, and sequence of actual performance experienced by the
individual. Past performance is no guarantee of future results. Please note, an investor cannot invest directly in an index.
For Registered Representative Use with Clients and Prospects.
Permanent life insurance gives you the flexibility
to make the most of your financial portfolio.
By diversifying with whole life insurance from New York Life Insurance, you can access your policy's cash
value to pay for expenses as your life insurance needs decrease in retirement.3 Withdrawing money from
the cash value in your insurance policy instead of an investment account has the greatest impact in the
years after your portfolio experiences a loss. This allows your account more opportunity to recover,
helping to preserve your wealth.
Account and permanent life insurance

S&P 500 Barclays Agg. Bond Performance 35% S&P Beginning of Year Annual End of Year
Age
Return1 Index Return1 65% Bond Index2 Balance Withdrawal Balance

65 -11.89% 8.43% 1.32% $1,000,000 ($80,000) $932,126

66 -22.10% 10.26% -1.07% $932,126 ($80,000) $843,042
67 26.86% 4.10% 12.07% $843,042 $0 $950,134
68 10.88% 4.34% 6.63% $950,134 ($80,000) $927,815
69 4.91% 2.43% 3.30% $927,815 ($80,000) $875,776
70 15.79% 4.33% 8.34% $875,776 ($80,000) $862,151
71 5.49% 6.97% 6.45% $862,151 ($80,000) $832,616
72 -37.00% 5.24% -9.54% $832,616 ($80,000) $680,786
73 26.46% 5.93% 13.12% $680,786 $0 $770,074
74 15.06% 6.54% 9.52% $770,074 ($80,000) $755,783
75 2.11% 7.84% 5.83% $755,783 ($80,000) $715,212
76 16.00% 4.22% 8.34% $715,212 ($80,000) $688,208
77 32.39% -2.02% 10.02% $688,208 ($80,000) $669,171
78 13.69% 5.97% 8.67% $669,171 ($80,000) $640,264
79 1.38% 0.06% 0.52% $640,264 ($80,000) $563,171

Years when the Cash value from life insurance After withdrawing income
portfolio is down. can supplement income in from another source in the years
years after the market is down. following a market loss, $563,171
And there may be additional is left in the account after 15 years.
cash value and death benefit That's $313,462 more than with
remaining depending on the withdrawals from the account alone.
size of the policy.
1
 ased on historical S&P 500 and Barclays Aggregate Bond Index returns for the years 20012015. The 20012015 time period was selected because it
B
represented the most recent 15-year period.
Returns based on a blended portfolio of 35% stocks and 65% bonds.
2

 Although tax-agnostic, the concept may not be a favorable option if funds are in a qualified account that forces withdrawals at age 70.
The cash value in a life insurance policy is accessed through policy loans, which accrue interest and decrease death benefit and cash value. There may be tax
3

implications for policies recognized as modified endowment contracts (MECs) or if you partially surrender your policy for an amount that exceeds the cost
basis of the policy. However, certain partial surrenders made within the first 15 years after a policy is issued may be fully or partially taxable. Distributions,
including loans, from an MEC are taxable to the extent of the gain in the policy and may also be subject to a 10% additional tax if the owner is under age 59.
Hypothetical example for illustrative purposes only. It does not represent the actual performance of any investments. Individual results will vary and may be
more or less favorable, depending on factors like withdrawal rates, taxes, fees/expenses and charges, and the sequence of actual performance experienced
by the individual. Past performance is no guarantee of future results. Please note, an investor cannot invest directly in an index.

New York Life Insurance Company

NYLIFE Securities LLC (Member FINRA SIPC)
51 Madison Avenue
New York, NY 10010
www.newyorklife.com
AR07204A.032017 SMRU1683682 (Exp.04.22.2017)
Does this look more like
your portfolio?
Account alone

S&P 500 Barclays Agg. Bond Performance 50% S&P Beginning of Year Annual End of Year
Age
Return1 Index Return1 50% Bond Index2 Balance Withdrawal Balance

65 -11.89% 8.43% -1.73% $1,000,000 ($80,000) $904,084

66 -22.10% 10.26% -5.92% $904,084 ($80,000) $775,298
67 26.86% 4.10% 15.48% $775,298 ($80,000) $809,258
68 10.88% 4.34% 7.61% $809,258 ($80,000) $784,754
69 4.91% 2.43% 3.67% $784,754 ($80,000) $730,619
70 15.79% 4.33% 10.06% $730,619 ($80,000) $716,071
71 5.49% 6.97% 6.23% $716,071 ($80,000) $675,698
72 -37.00% 5.24% -15.88% $675,698 ($80,000) $501,101
73 26.46% 5.93% 16.20% $501,101 ($80,000) $489,299
74 15.06% 6.54% 10.80% $489,299 ($80,000) $453,503
75 2.11% 7.84% 4.98% $453,503 ($80,000) $392,085
76 16.00% 4.22% 10.11% $392,085 ($80,000) $343,636
77 32.39% -2.02% 15.19% $343,636 ($80,000) $303,669
78 13.69% 5.97% 9.83% $303,669 ($80,000) $245,656
79 1.38% 0.06% 0.72% $245,656 ($80,000) $166,845

Returns based Years when the In this scenario, after

on a blended portfolio is down. 15 years of withdrawals the
50% 50%
portfolio50% account is left with $166,845.
stocks, 50% bonds.

1
 ased on historical S&P 500 and Barclays Aggregate Bond Index returns for the years 20012015. The 20012015 time period was selected because it
B
represented the most recent 15-year period.
2
Returns based on a blended portfolio of 50% stocks and 50% bonds.
For Registered Representative Use with Clients and Prospects.
Let's take a look at this portfolio's potential
results after withdrawing income from the cash
value in a permanent life insurance policy.

Account and permanent life insurance

S&P 500 Barclays Agg. Bond Performance 50% S&P Beginning of Year Annual End of Year
Age
Return1 Index Return1 50% Bond Index2 Balance Withdrawal Balance

65 -11.89% 8.43% -1.73% $1,000,000 ($80,000) $904,084

66 -22.10% 10.26% -5.92% $904,084 $0 $850,562
67 26.86% 4.10% 15.48% $850,562 $0 $989,969
68 10.88% 4.34% 7.61% $989,969 ($80,000) $979,218
69 4.91% 2.43% 3.67% $979,218 ($80,000) $932,219
70 15.79% 4.33% 10.06% $932,219 ($80,000) $937,952
71 5.49% 6.97% 6.23% $937,952 ($80,000) $911,403
72 -37.00% 5.24% -15.88% $911,403 ($80,000) $699,376
73 26.46% 5.93% 16.20% $699,376 $0 $696,445
74 15.06% 6.54% 10.80% $696,445 ($80,000) $683,021
75 2.11% 7.84% 4.98% $683,021 ($80,000) $633,021
76 16.00% 4.22% 10.11% $633,021 ($80,000) $608,932
77 32.39% -2.02% 15.19% $608,932 ($80,000) $609,250
78 13.69% 5.97% 9.83% $609,250 ($80,000) $581,275
79 1.38% 0.06% 0.72% $581,275 ($80,000) $504,872

Years when the Cash value from life insurance After withdrawing income
portfolio is down. can supplement income in from another source in the
years after the market is down. years following a market loss,
And there may be additional $504,872 is left in the account
cash value and death benefit after 15 years. That's $338,027
remaining depending on the more than with withdrawals
size of the policy. from the account alone.

1
 ased on historical S&P 500 and Barclays Aggregate Bond Index returns for the years 20012015. The 20012015 time period was selected because it
B
represented the most recent 15-year period.
Returns based on a blended portfolio of 50% stocks and 50% bonds.
2

New York Life Insurance Company

NYLIFE Securities LLC (Member FINRA SIPC)
51 Madison Avenue
New York, NY 10010
www.newyorklife.com
AR07204A.032017 SMRU1683682 (Exp.04.22.2017)
Does this look more like
your portfolio?
Account alone

S&P 500 Barclays Agg. Bond Performance 60% S&P Beginning of Year Annual End of Year
Age
Return1 Index Return1 40% Bond Index2 Balance Withdrawal Balance

65 -11.89% 8.43% -3.76% $1,000,000 ($80,000) $885,390

66 -22.10% 10.26% -9.16% $885,390 ($80,000) $731,648
67 26.86% 4.10% 18.85% $731,648 ($80,000) $774,471
68 10.88% 4.34% 8.26% $774,471 ($80,000) $751,862
69 4.91% 2.43% 3.92% $751,862 ($80,000) $698,185
70 15.79% 4.33% 11.21% $698,185 ($80,000) $687,459
71 5.49% 6.97% 6.08% $687,459 ($80,000) $644,405
72 -37.00% 5.24% -20.10% $644,405 ($80,000) $450,937
73 26.46% 5.93% 18.25% $450,937 ($80,000) $438,626
74 15.06% 6.54% 11.65% $438,626 ($80,000) $400,413
75 2.11% 7.84% 4.40% $400,413 ($80,000) $334,517
76 16.00% 4.22% 11.29% $334,517 ($80,000) $283,247
77 32.39% -2.02% 18.63% $283,247 ($80,000) $241,104
78 13.69% 5.97% 10.60% $241,104 ($80,000) $178,184
79 1.38% 0.06% 0.85% $178,184 ($80,000) $99,019

Returns based Years when the In this scenario, after

40% on a blended portfolio is down. 15 years of withdrawals
60% portfolio60% the account is left
stocks, 40% bonds. with $99,019.

1
 ased on historical S&P 500 and Barclays Aggregate Bond Index returns for the years 20012015. The 20012015 time period was selected because it
B
represented the most recent 15-year period.
2
Returns based on a blended portfolio of 60% stocks and 40% bonds.
For Registered Representative Use with Clients and Prospects.
Let's take a look at this portfolio's potential
results after withdrawing income from the cash
value in a permanent life insurance policy.

Account and permanent life insurance

S&P 500 Barclays Agg. Bond Performance 60% S&P Beginning of Year Annual End of Year
Age
Return1 Index Return1 40% Bond Index2 Balance Withdrawal Balance

65 -11.89% 8.43% -3.76% $1,000,000 ($80,000) $885,390

66 -22.10% 10.26% -9.16% $904,084 $0 $804,324
67 26.86% 4.10% 18.85% $850,562 $0 $955,923
68 10.88% 4.34% 8.26% $989,969 ($80,000) $948,309
69 4.91% 2.43% 3.92% $979,218 ($80,000) $902,330
70 15.79% 4.33% 11.21% $932,219 ($80,000) $914,480
71 5.49% 6.97% 6.08% $937,952 ($80,000) $885,233
72 -37.00% 5.24% -20.10% $911,403 ($80,000) $643,349
73 26.46% 5.93% 18.25% $699,376 $0 $760,747
74 15.06% 6.54% 11.65% $696,445 ($80,000) $760,068
75 2.11% 7.84% 4.40% $683,021 ($80,000) $710,005
76 16.00% 4.22% 11.29% $633,021 ($80,000) $701,120
77 32.39% -2.02% 18.63% $608,932 ($80,000) $736,809
78 13.69% 5.97% 10.60% $609,250 ($80,000) $726,444
79 1.38% 0.06% 0.85% $581,275 ($80,000) $651,939

Years when the Cash value from life insurance After withdrawing income
portfolio is down. can supplement income in from another source in the
years after the market is down. years following a market loss,
And there may be additional $651,939 is left in the account
cash value and death benefit after 15 years. That's $552,920
remaining depending on the more than with withdrawals
size of the policy. from the account alone.

1
 ased on historical S&P 500 and Barclays Aggregate Bond Index returns for the years 20012015. The 20012015 time period was selected because it
B
represented the most recent 15-year period.
2
Returns are based on a blended portfolio of 60% stocks and 40% bonds.

New York Life Insurance Company

NYLIFE Securities LLC (Member FINRA SIPC)
51 Madison Avenue
New York, NY 10010
www.newyorklife.com
AR07204A.032017 SMRU1683682 (Exp.04.22.2017)
Does this look more like
your portfolio?
Account alone

S&P 500 Barclays Agg. Bond Performance 80% S&P Beginning of Year Annual End of Year
Age
Return1 Index Return1 20% Bond Index2 Balance Withdrawal Balance

65 -11.89% 8.43% -7.83% $1,000,000 ($80,000) $848,001

66 -22.10% 10.26% -15.63% $848,001 ($80,000) $647,978
67 26.86% 4.10% 22.31% $647,978 ($80,000) $702,952
68 10.88% 4.34% 9.57% $702,952 ($80,000) $682,581
69 4.91% 2.43% 4.41% $682,581 ($80,000) $629,179
70 15.79% 4.33% 13.50% $629,179 ($80,000) $623,307
71 5.49% 6.97% 5.79% $623,307 ($80,000) $574,743
72 -37.00% 5.24% -28.55% $574,743 ($80,000) $353,484
73 26.46% 5.93% 22.35% $353,484 ($80,000) $334,618
74 15.06% 6.54% 13.36% $334,618 ($80,000) $288,625
75 2.11% 7.84% 3.26% $288,625 ($80,000) $215,418
76 16.00% 4.22% 13.64% $215,418 ($80,000) $153,894
77 32.39% -2.02% 25.51% $153,894 ($80,000) $92,743
78 13.69% 5.97% 12.15% $92,743 ($80,000) $14,291
79 1.38% 0.06% 1.12% $14,291 ($14,291) $0

20% Returns based Years when the In this scenario, after

on a blended portfolio is down. 15 years of withdrawals
portfolio80% the account is left with $0.
80%
stocks, 20% bonds.

1
 ased on historical S&P 500 and Barclays Aggregate Bond Index returns for the years 20012015. The 20012015 time period was selected because it
B
represented the most recent 15-year period.
2
Returns based on a blended portfolio of 80% stocks and 20% bonds.
For Registered Representative Use with Clients and Prospects.
Let's take a look at this portfolio's potential
results after withdrawing income from the cash
value in a permanent life insurance policy.

Account and permanent life insurance

S&P 500 Barclays Agg. Bond Performance 80% S&P Beginning of Year Annual End of Year
Age
Return Index Return1 20% Bond Index2 Balance Withdrawal Balance

65 -11.89% 8.43% -7.83% $1,000,000 ($80,000) $0 $848,001

66 -22.10% 10.26% -15.63% $848,001 $0 $715,475
67 26.86% 4.10% 22.31% $715,475 $0 $885,500
68 10.88% 4.34% 9.57% $885,500 ($80,000) $882,603
69 4.91% 2.43% 4.41% $882,603 ($80,000) $838,030
70 15.79% 4.33% 13.50% $838,030 ($80,000) $860,349
71 5.49% 6.97% 5.79% $860,349 ($80,000) $825,500
72 -37.00% 5.24% -28.55% $825,500 ($80,000) $532,645
73 26.46% 5.93% 22.35% $532,645 $0 $651,712
74 15.06% 6.54% 13.36% $651,712 ($80,000) $648,070
75 2.11% 7.84% 3.26% $648,070 ($80,000) $586,567
76 16.00% 4.22% 13.64% $586,567 ($80,000) $575,683
77 32.39% -2.02% 25.51% $575,683 ($80,000) $622,121
78 13.69% 5.97% 12.15% $622,121 ($80,000) $607,968
79 1.38% 0.06% 1.12% $607,968 ($80,000) $533,854

Years when the Cash value from life insurance After withdrawing income
portfolio is down. can supplement income in from another source in the years
years after the market is down. following a market loss, $533,854
And there may be additional is left in the account after 15 years.
cash value and death benefit
remaining depending on the
size of the policy.

1
 ased on historical S&P 500 and Barclays Aggregate Bond Index returns for the years 20012015. The 20012015 time period was selected because it
B
represented the most recent 15-year period.
Returns based on a blended portfolio of 80% stocks and 20% bonds.
2

New York Life Insurance Company

NYLIFE Securities LLC (Member FINRA SIPC)
51 Madison Avenue
New York, NY 10010
www.newyorklife.com
AR07204A.032017 SMRU1683682 (Exp.04.22.2017)
Does this look more like
your portfolio?
Account alone

S&P 500 Beginning of Year Annual End of Year

Age Performance 100% S&P2
Return1 Balance Withdrawal Balance

65 -11.89% -11.89% $1,000,000 ($80,000) $810,612

66 -22.10% -22.10% $810,612 ($80,000) $569,147
67 26.86% 26.86% $569,147 ($80,000) $629,434
68 10.88% 10.88% $629,434 ($80,000) $609,212
69 4.91% 4.91% $609,212 ($80,000) $555,197
70 15.79% 15.79% $555,197 ($80,000) $550,230
71 5.49% 5.49% $550,230 ($80,000) $496,046
72 -37.00% -37.00% $496,046 ($80,000) $262,109
73 26.46% 26.46% $262,109 ($80,000) $230,295
74 15.06% 15.06% $230,295 ($80,000) $172,929
75 2.11% 2.11% $172,929 ($80,000) $94,890
76 16.00% 16.00% $94,890 ($80,000) $17,273
77 32.39% 32.39% $17,273 ($17,273) $0
78 13.69% 13.69% $0 $0 $0
79 1.38% 1.38% $0 $0 $0

Returns based on an Years when the In this scenario, after

100% all-stock portfolio. portfolio is down. 15 years of withdrawals
the account is left with $0.

1
Based on historical S&P 500 returns for the years 20012015. The 20012015 time period was selected because it represented the most recent 15-year period.
Returns based on a portfolio of 100% stocks.
2

For Registered Representative Use with Clients and Prospects.

Let's take a look at this portfolio's potential
results after withdrawing income from the cash
value in a permanent life insurance policy.

Account and permanent life insurance

S&P 500 Beginning of Year Annual End of Year

Age Performance 100% S&P2
Return1 Balance Withdrawal Balance

65 -11.89% -11.89% $1,000,000 ($80,000) $810,612

66 -22.10% -22.10% $810,612 $0 $631,467
67 26.86% 26.86% $631,467 $0 $812,572
68 10.88% 10.88% $812,572 ($80,000) $812,276
69 4.91% 4.91% $812,276 ($80,000) $768,230
70 15.79% 15.79% $768,230 ($80,000) $796,902
71 5.49% 5.49% $796,902 ($80,000) $756,260
72 -37.00% -37.00% $756,260 ($80,000) $426,044
73 26.46% 26.46% $426,044 $0 $538,775
74 15.06% 15.06% $538,775 ($80,000) $527,867
75 2.11% 2.11% $527,867 ($80,000) $457,317
76 16.00% 16.00% $457,317 ($80,000) $437,687
77 32.39% 32.39% $437,687 ($80,000) $473,542
78 13.69% 13.69% $473,542 ($80,000) $447,418
79 1.38% 1.38% $447,418 ($80,000) $372,489

Years when the Cash value from life insurance After withdrawing income
portfolio is down. can supplement income in from another source in the
years after the market is down. years following a market loss,
And there may be additional $372,489 is left in the account
cash value and death benefit after 15 years.
remaining depending on the
size of the policy.

Based on historical S&P 500 returns for the years 20012015. The 20012015 time period was selected because it represented the most recent 15-year period.
1

Returns based on a portfolio of 100% stocks.

2

New York Life Insurance Company

NYLIFE Securities LLC (Member FINRA SIPC)
51 Madison Avenue
New York, NY 10010
www.newyorklife.com
AR07204A.032017 SMRU1683682 (Exp.04.22.2017)