Flexible protection to help meet a lifetime of needs

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1 TIAA-CREF Life Insurance Company Flexible protection to help meet a lifetime of needs Intelligent Life Universal Life Insurance and Intelligent Life Survivorship Universal Life Insurance

2 Designed to meet a lifetime of needs Baby new house college new business grandchildren retirement. These significant milestones can bring great joy and happiness. Often they come with additional responsibilities and financial obligations. If anyone depends on you for financial support whether it s your family or your business the people who matter most to you could suffer financially if something unexpectedly happens to you. No matter what stage of life you re in or how your needs might change over time, we ve designed our family of Intelligent Life policies to be flexible enough to help keep pace with your changing needs. Lifetime protection coupled with flexibility With Intelligent Life you have the peace of mind provided by permanent life insurance. But Intelligent Life insurance offers you so much more: For the milestones in your life TIAA has been protecting people and their loved ones for nearly 100 years. We have designed our permanent life insurance products to meet the demands and challenges facing families and businesses today. Flexible premium payments you select the amount you ll pay. You can change this amount over the life of the policy.1 Potential cash value accumulation grows tax deferred and earns a minimum guaranteed annual rate of 3%.2 Easy access to your cash value at any time to help supplement life events like your child s college education or even your own retirement.3 Choose to protect one or two people Universal life insurance provides permanent protection for an individual s lifetime. This valuable coverage can also cover two lives. This type of universal life is called survivorship universal life insurance. With survivorship universal life insurance, the benefit is paid out after the death of the second insured. Our Intelligent Life family of policies offers both single life and survivorship options: As life s milestones occur, find out how TIAA-CREF Life Insurance Company s (TIAA Life) family of Intelligent Life policies can help you keep your promises at TIAA.org/life. What s inside Designed to meet a lifetime of needs 1 Make the smart choice with Intelligent Life 2 Intelligent Life Universal Life 4 Intelligent Life Survivorship Universal Life 6 Intelligent Life Universal Life Intelligent Life Survivorship Universal Life4 1. Changes in premium payments may adversely impact the death benefit and/or cash value potential. All guarantees are subject to the claims-paying ability of the issuing company. Partial withdrawals or outstanding loans and loan interest will reduce the policy s death benefit and may have tax consequences. If the policy is classified as a Modified Endowment Contract (MEC) under IRS rules, distributions are generally subject to income taxes and, if before age 59½, a federal tax penalty. Taxes may be incurred if the policy is allowed to lapse before maturity. Not available in Delaware or Montana. 2. Customize your coverage to meet your needs Learn how Intelligent Life can be a smart choice for you and the people in your life that matter most to you. 8 Live more securely with TIAA Life 10 Take the next step without obligation Flexible protection to help meet a lifetime of needs 1

3 Make the smart choice with Intelligent Life We have designed the Intelligent Life family of universal life policies to address your current and future needs. Wherever life may lead you, TIAA Life remains committed to helping you find solutions that help you keep your promises. Enjoy the benefits of an Intelligent Life Universal Life or Survivorship Universal Life policy: 1. Lifetime protection 4. Guarantees Intelligent Life policies are permanent life insurance designed to provide a lifetime of protection for your family or business. Wherever life takes you, you can have peace of mind knowing your policy will be there for your loved ones.5 Your cash value earns interest daily. The amount will vary based on the performance of our Fixed Account s investment portfolio. But it will never be less than our 3% annual guaranteed minimum. 2. Flexibility 5. Easy access Universal life policies offer flexibility you won t find in other types of life insurance. You can easily adjust your policy to adapt to your needs over time.6 You can change the amount and timing of your premium payments or increase or decrease the death benefit of your policy.7 At any time, you can easily access your cash value through partial withdrawals without an early withdrawal penalty. Or take a low-cost policy loan using your cash value as collateral. 3. Simplicity Our fees are simple, transparent and easy to understand. There are no front- or back-end sales loads or surrender charges.8 This means more of your money goes to work for you. 6. Tax advantages Your beneficiaries generally receive the death benefit free of any federal income tax according to IRC Section 101(a). Your cash value accumulates tax deferred. Finally, partial withdrawals are tax free up to the amount paid into the policy. Compare our Intelligent Life policies with similar competitor policies. Chances are you ll find our coverage offers a better insurance value. Call or visit us online today to learn more about the Intelligent Life policies in your state. TIAA.org/life The policy may lapse if the cash surrender value is insufficient to pay the monthly deductions, even if scheduled premiums are paid. 6. Certain restrictions apply. 7. Changes in premium payments may adversely impact the death benefit, cash value potential and/or future premium payments. A change that represents an increase in the amount of the death benefit may require evidence of insurability. 8. Premium tax will be charged based on state of residence at the time of policy issue. 2 Flexible protection to help meet a lifetime of needs The Intelligent Life Advantage 3

4 Intelligent Life Universal Life Intelligent Life Universal Life is a flexible premium permanent life insurance policy. It offers lifetime protection and guaranteed cash value growth you can access over time.8 Plus you can customize your policy to help meet your needs now and in the future. Life insurance can help you keep your promises. Select the amount of premium you ll pay including how often you ll make your payments. Later, you can increase, decrease or even stop paying premiums all together. Choose from three differently structured death benefit options.9 Easily access your cash value using tax-free partial withdrawals, up to the amount paid into the policy, or low-cost policy loans, neither of which is subject to early withdrawal penalties. Adjust your choices should your needs change. Meet Beth and Andrew Let Intelligent Life work for you The benefits of Universal Life The combination of lifetime protection, flexibility and guaranteed interest offered by Intelligent Life Universal Life may be the right choice if you are a: Intelligent Life Universal Life provides lifetime protection your beneficiaries will receive a generally income tax-free benefit. But if you have reached a stage in your life where protection isn t as important or a specific need arises, you can easily access your cash value to help: Growing family Couple or an individual with substantial financial obligations Pay for a child or grandchild s education Supplement your retirement income Grandparent who wants to leave a legacy for your grandchildren Individual interested in leaving a donation to your favorite charitable institution Cover unexpected healthcare costs Pay off student loans or other debt Business owner who wants to fund the transition of your business or provide key employees with life insurance Fund a business venture Beth and Andrew are in their mid-40s and have two children ages 10 and 13. Andrew is a successful salesperson and Beth returned to work a few years ago as a physical therapist. They own their home and have started the balancing act of saving for college and retirement. They feel like they have outgrown their term insurance and want longer-term protection. They also like the benefits of cash accumulation built into permanent life insurance. Need Income replacement and a college fund to cover tuition or student loan repayments if something unexpectedly happens to either one of them. Eventually, they like the idea of having funds to help supplement their retirement income, if needed. Budget With Beth working now, they have more disposable income to put towards a larger life insurance premium, but they want level, predictable premium payments. Decision 9. Beth and Andrew each purchase an Intelligent Life Universal Life policy. They like that they can provide the protection they need for a level premium payment that fits within their budget. The flexibility to adjust premium payments over time also appealed to them. Finally, the guaranteed interest rate as well as the easy access to the cash value gives them added peace of mind. A ll death benefit options have premium limits that determine whether a policy is classified as a Modified Endowment Contract (MEC). Under a MEC, distributions are generally subject to income taxes and, if made before age 59½, a federal tax penalty. Taxes may be incurred if the policy is allowed to lapse before maturity. 4 Flexible protection to help meet a lifetime of needs Flexible protection to help meet a lifetime of needs 5

5 Intelligent Life Survivorship Universal Life Intelligent Life Survivorship Universal Life is a flexible premium permanent life insurance that protects two individuals, usually spouses, on a single second-to-die policy. It offers lifetime protection, and cash value is credited with a guaranteed minimum rate of 3%. The built-in flexibility lets you customize your policy to help meet your needs now and in the future. I promise to be loyal. 10. Select the amount of premium you ll pay including how often you ll make your payments. Later, you can increase, decrease or even stop paying premiums all together. Choose from three differently structured death benefit options.10 Easily access your cash value using tax-free partial withdrawals up to the amount paid into the policy or low-cost policy loans, neither of which is subject to early withdrawal penalties. Adjust your choices should your needs change. Why cover two people with one policy? The benefits of Survivorship Universal Life Couples often choose this type of policy because it enables them to cost effectively manage and transfer their estate. The policy provides ready cash to their beneficiaries to pay estate taxes and other estate settlement costs when they become due. By insuring two people on the same policy, you can save money since premiums are generally lower than for coverage on two separate policies. Intelligent Life Survivorship Universal Life can help you: Provide an income tax-free death benefit to your heirs Preserve and protect family assets for your children Amplify the value of your legacy for your children and grandchildren Provide a fund to care for children with special needs Equalize your estate among multiple heirs Create a living legacy for a favorite charity Maintain access to your cash value to help fund healthcare or other expenses, if needed Meet Maria and Rob Maria and Rob are in their early 60s and planning to retire in a few years. They have three children and five grandchildren. They have both enjoyed successful careers and are well prepared for their retirement. They are conservative but want to ensure that their assets are cost effectively passed onto their children. Need They want to provide a legacy for their children and grandchildren, and they want to make sure their heirs have immediate access to funds to pay for estate taxes and other estate settlement costs. They also want to maximize the value of the legacy they leave for the next generation. Budget Since they are both still working, they would like to fund the policy now and for a few years into retirement. They have some surplus savings that they will not need for retirement that they can use to help pay the premiums after they retire. They are looking for a level, predictable premium payment. Decision They purchase an Intelligent Life Survivorship Universal Life policy to cost effectively pass on their estate. The premium flexibility and guaranteed interest rate appeal to them. They select a premium amount, including how long they ll pay, that fits within their retirement plan. In the end, they decided to purchase life insurance because it helped amplify the value of their legacy for their children and grandchildren. A ll death benefit options have premium limits that determine whether a policy is classified as a Modified Endowment Contract (MEC). Under a MEC, distributions are generally subject to income taxes and, if made before age 59½, a federal tax penalty. Taxes may be incurred if the policy is allowed to lapse before maturity. 6 Flexible protection to help meet a lifetime of needs Flexible protection to help meet a lifetime of needs 7

6 I promise to keep you safe. Customize your coverage to meet your needs Both Intelligent Life policies offer options to give you added flexibility to further customize your policy. Living Choices Benefit Allows you to collect all or a portion of your policy benefits if you become terminally ill as defined in the policy. Commonly known as the Accelerated Death Benefit Option. Money can be used in any way you see fit to help with medical bills, household expenses, even to help support a family member who stops working to care for you. Automatically included in every life insurance policy we issue. 11 Charitable Giving Benefit rider This special rider will pay 1% of your policy s face amount up to a maximum of $100,000 over and above your policy s death benefit to an eligible charity of your choice. The designated beneficiary of the benefit must be an institution accredited as a charity with the IRS under section 501(c)(3). No additional charge for this rider. The cost is included in the base policy premium. The election of this rider is not automatic. The owner must select it when applying for coverage. 12 (Rider form series TCL-CHAREDUC.2) Overloan Protection Endorsement Automatically included in your policy unless you decline it, guarantees your policy will not lapse should you have an outstanding loan balance that exceeds the value of your policy. 13 Designed to keep your policy in effect and protect you from any potential tax liability. (Rider form series AM-OVERLOAN.1[2008]) Only available with Intelligent Life Universal Life Level Cost of Insurance Endorsement This patented feature allows you to lock in the rates for a 10- or 20-year term period versus the option of having insurance rates increase each year based upon your age. This endorsement can be added at issue for no additional charge. When each policy period ends, you may renew for another level period. 14 (Rider form series AM-SVLCOl.1) Waiver of Monthly Charges rider All policy charges will be waived while the insured person is totally disabled as defined in the policy. Available for an additional fee. (Rider form series AM-SVWMC.2) Only available with Intelligent Life Survivorship Universal Life Last Survivor Policy Split option Gives you the flexibility to split your policy into two separate individual life insurance policies, in the case of divorce or dissolution of partnership. No evidence of insurability will be required. This option is available without charge. (Rider form series AM-JVSPLIT.2 [2008]) Estate Transfer Protection rider Optional rider intended to offset any estate tax that may be due if the Survivorship Universal Life policy is included in the estate of the second insured to die. Offers an additional death benefit until four years after the death of the first insured to die that can help cover estate taxes that might be incurred if ownership of the policy is transferred, and the surviving insured dies shortly after the transfer. 11. Receipt of accelerated death benefits may be taxable and may affect eligibility for public assistance programs. There is no charge for the availability of this feature, but there may be a charge assessed if this feature is exercised, and the proceeds are discounted for interest to reflect early payment. (Not available in all states.) 12. TIAA Life will pay the institution(s) in the name of the deceased insured. (Not available in Kentucky, Maryland or Tennessee.) 13. Certain conditions and restrictions apply. Evidence of insurability will be required and there is an additional charge.15 (Rider form series AM-ESTPROT.1[2008]) 14. Renewals are subject to age restrictions and evidence of insurability. Certain restrictions may apply. Not available in Pennsylvania. 15. Some restrictions may apply. Please call us for details. 8 Flexible protection to help meet a lifetime of needs Flexible protection to help meet a lifetime of needs 9

7 Live more securely with TIAA Life You ll live securely knowing you made a smart decision to help protect your loved ones with universal life insurance from TIAA Life: High ratings for financial strength TIAA Life is one of the three highest rated insurance companies in terms of overall financial strength.16 World s most admired companies We re one of the world s most admired companies in the life and health insurance category for the last 5 years.17 Personalized solutions We can help you determine your life insurance needs. Our life insurance representatives: Financial strength ratings16 A++ Superior A.M. Best Company (as of 6/15) AAA Exceptionally Strong Fitch Ratings (as of 9/15) Aa1 Provide no-obligation guidance focused on your unique needs, Give easy-to-understand explanations, (Second highest) Very Strong Discuss options available to you, Moody s Investors Service (as of 8/15) Can help you with the application process, Never pressure you to buy. AA+ Life insurance for your needs Our life insurance policies are affordably priced and designed to help fit into your budget. (Second highest) Very Strong Standard & Poor s (as of 7/15) Exclusions, restrictions, limitations and reductions in benefits will, in certain situations, apply to your policy. For full details, including costs, call us at Please note that TIAA Life has the right to contest the policy for misrepresentation by the applicant. 16. T IAA-CREF Life Insurance Company (TIAA Life) is a wholly owned subsidiary of Teachers Insurance and Annuity Association of America (TIAA). TIAA Life holds the following ratings as a result of its relationship with TIAA: A.M. Best (A++ as of 6/15), Fitch (AAA as of 9/15), and Standard & Poor s (AA+ as of 7/15). It holds the second highest possible rating from Moody s Investors Service (Aa1 as of 8/15). Per S&P criteria, the downgrade of U.S. long-term government debt limits the highest rating of U.S. insurers to AA+ (the second-highest rating available). There is no guarantee that current ratings will be maintained. Ratings represent a company s ability to meet policyholders obligations and claims and do not apply to variable annuities, mutual funds or any other product or service not fully backed by TIAA Life s claims-paying ability. 17. TIAA-CREF Life Insurance Company is part of the TIAA family of companies. TIAA-CREF was rated in the top 10 in FORTUNE magazine s World s Most Admired Companies ranking in the Insurance: Life and Health category for the years 2011, 2012, 2013, 2014 and Flexible protection to help meet a lifetime of needs The Intelligent Life Advantage 11

8 Take the next step without obligation We re here to answer your questions and provide you with the information you need to decide if this coverage is right for you and your family. Call today and speak to a TIAA life insurance representative. This service is available to you without charge, obligation or pressure to buy. Contact your life insurance representative at or by at Learn about the next steps to take at TIAA.org/life. All solicitations pertaining to a contract for insurance may only be handled by an agent or broker licensed to engage in the business of insurance in the state in which you reside. 12 Flexible protection to help meet a lifetime of needs The Intelligent Life Advantage 13

9 Please note: All guarantees are subject to the claims-paying ability of the issuing company. Changes in premium payments may adversely impact the death benefit and/or cash value potential. Partial withdrawals or outstanding loans and loan interest will reduce the policy s death benefit and may have tax consequences. If the policy is classified as a Modified Endowment Contract (MEC) under IRS rules, distributions are generally subject to income taxes and, if before age 59½, a federal tax penalty. Taxes may be incurred if the policy is allowed to lapse before maturity. The receipt of the death benefit is generally federally income tax free. See IRC Section 101(a). Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not bank deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value. Intelligent Life Universal Life Insurance, policy form series AM-SUL.3 (2008) and Intelligent Life Survivorship Universal Life Insurance, policy form series AM-JUL.3 (2008) are issued and underwritten by TIAA-CREF Life Insurance Company (TIAA Life), a wholly owned subsidiary of Teachers Insurance and Annuity Association of America (TIAA). These products may not be available in all states. Both TIAA and TIAA Life are headquartered at 730 Third Avenue, New York, NY Each of the foregoing is solely responsible for its own financial condition and contractual obligations. Please call us for details TIAA-CREF Life Insurance Company (TIAA Life), 730 Third Avenue, New York, NY C20991A _ A14041 Generic (03/16)

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