The Visible Policy, Year 3

Unofficial Reproduction of Annual Statement

	NEW YORK LIFE
The Company You Keep ®

New York Life Insurance Company
Annual Policy Summary
Policy Number: ## ### ###

Page 2 of 2

Insured: RICHARD W FRANZEN

Date Prepared: May 10, 1999

Life Insurance Death Benefit as of May 10, 1999		Policy Cash Value as of May 10, 1999
Base Plan Death Benefit	$100,000.00	Base Plan Guaranteed Cash Value	$1,300.00
Death Benefit of Optional Paid up Life Insurance Rider (OPP)	5,554.00	Cash Value of Optional Paid up Life Insurance Rider (OPP)	1,929.96
Death Benefit of Paid up Additional Life Insurance provided by Dividends	1,345.00	Cash Value of Paid up Additional Life Insurance Provided by Dividends	416.94
Premiums paid beyond May 10, 1999	1,764.00	Premiums paid beyond May 10, 1999	1,764.00
TOTAL DEATH BENEFIT	$108,633.00	NET CASH VALUE	$5,410.90

Loan Summary from May 12, 1998 to May 10, 1999		Dividend Summary as of May 10, 1999
No activity during the period		The 1999 DIVIDEND credited to your policy The dividend of $241.17 provided $778 of increased Paid up Additional Life Insurance	$241.17

Summary of Our Disbursements from May 12, 1998 to May 10, 1999		Summary of Your Payments from May 12, 1998 to May 10, 1999
No activity during the period		Policy Premium	$3528.00
		Payment(s) for Optional Paid up Insurance Rider (OPP) Premium	936.00
		TOTAL PAYMENTS	$4,464.00

100% Unapproved -- No content within The Visible Policy is authorized or verified by NYL -- 100% Unapproved

June 10, 1999

Policy: ## ### ###
Insured: Richard W Franzen

0000255

Dear Richard W Franzen:

Thank you for your recent payment of $636.00. Your payment has purchased $1,766 of paid-up additional insurance. This is in accordance with your policy's Option to Purchase Paid-Up Additional Insurance rider (OPP).

As of June 10, 1999, your policy, including riders, dividends and paid-up additional insurance, less any loans and loan interest due, has a net cash value of $6,007.75 and a net death benefit of $110,309.

If you need additional information, or if you have any questions about your policy, please contact your agent, or call one of our customer service representatives at 1-800-###-####.

Sincerely,
Steven L Nelson
Service Center Vice President

`<=-` Activity, Year 3 to Year 4 `-=>`
9 May 2000	Payments	Increase in Value	Total to Date
Base Death Benefit	1,764 7,056		100,000
OPP Death Benefit	636 2,544	1,766	7,320
Dividend Death Benefit	241.17	778	1,345
Total Death Benefit	2,400 $9,600	2,544 $8,665	$108,665
Inflation-Adjusted Total Cost and Base Death Benefit	$10,174	30apr00 CPI=3.0%	$109,516
Guaranteed Cash Value ¹ `1300 / 100,000 = 1.3%g`		1,300.00¹	1,300.00
OPP Cash Value ² `53.99 / 5554 = 0.97%g`	616.92 2,453.80	53.99² 93.08	2,546.88
Dividend Cash Value ³ `5.92 / 567 = 1.04%g`	241.17 411.02	5.92³	416.94
Total Cash Value to Date	$2,864.82	$1,399.00	$4,263.82
potential partial refund of premium excluded from totals 10 May 1999			10may99 $3,646.90
div. return `= (241.17 - 160) / 1,137.90`		$160 + 7.13%
BBAG = (3,646.90 - 1,137.90 - 2,700) / (1,137.90 + 2,700) IWR CV `= (3,646.90 - 7,478) / 7,478` IWR DB `= (106,121 + 778 - 106,326) / 106,326`			-5.0% -51.2% 0.5%

Accesses since 5 August 2001
last modified 27 July 2004
© 2001 - 2004 by Rich Franzen

Rich's Home Page <<|=- Current State Current Statement

No content within The Visible Policy has been approved, authorized, or verified by New York Life or any of its representatives. I have attempted to fairly and accurately portray the policy, but there are likely to be mistakes. Over time, I shall endeavor to correct any misinformation found herein.

Statement: Year 3