The Visible Policy, Year 5

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, 2001

Life Insurance Death Benefit as of May 10, 2001		Policy Cash Value as of May 10, 2001
Base Plan Death Benefit	$100,000.00	Base Plan Guaranteed Cash Value	$4,400.00
Death Benefit of Optional Paid up Life Insurance Rider (OPP)	10,711.00	Cash Value of Optional Paid up Life Insurance Rider (OPP)	3,957.82
Death Benefit of Paid up Additional Life Insurance provided by Dividends	3,670.00	Cash Value of Paid up Additional Life Insurance Provided by Dividends	1,217.97
Premiums paid beyond May 10, 2001	1,764.00	Premiums paid beyond May 10, 2001	1,764.00
TOTAL DEATH BENEFIT	$116,145.00	NET CASH VALUE	$11,339.79

Loan Summary from May 11, 2000 to May 10, 2001		Dividend Summary as of May 10, 2001
No activity during the period		The 2001 DIVIDEND credited to your policy The dividend of $429.80 provided $1,296 of increased Paid up Additional Life Insurance	$429.80

Summary of Our Disbursements from May 11, 2000 to May 10, 2001		Summary of Your Payments from May 11, 2000 to May 10, 2001
No activity during the period		Policy Premium	$3528.00
		Payment(s) for Optional Paid up Insurance Rider (OPP) Premium	1,272.00
		TOTAL PAYMENTS	$4,800.00

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

May 3, 2001

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

0000673

Dear Richard W Franzen:

Thank you for your recent payment of $2,400.00. We used $1,764.00 to pay the annual premium due May 10, 2001. The remaining $636.00 was applied towards the purchase of paid-up additional insurance for an added death benefit amount of $1,670.00. This is in accordance with your policy's Option to Purchase Paid-Up Additional Insurance rider (OPP).

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 5 to Year 6 `-=>`
9 May 2002	Payments	Increase in Value	Total to Date
Base Death Benefit	1,764 10,584		100,000
OPP Death Benefit	636 3,816	1,670	10,711
Dividend Death Benefit	429.80	1,296	3,670
Total Death Benefit	2,400 $14,400	2,966 $14,381	$114,381
Inflation-Adjusted Total Cost and Base Death Benefit	$15,635	30apr02 CPI=1.6%	$114,940
Guaranteed Cash Value ¹ `1500 / 100,000 = 1.5%g`		1,500.00¹	4,400.00
OPP Cash Value ² `100.64 / 9,041 = 1.11%g`	616.92 3,687.64	100.64² 270.18	3,957.82
Dividend Cash Value ³ `26.43 / 2,374 = 1.11%g`	429.80 1,170.81	26.43³ 47.16	1,217.97
Total Cash Value to Date	$4,858.45	$4,717.34	$9,575.79
potential partial refund of premium excluded from totals 10 May 2001			10may01 $8,958.87
div. return `= (429.80 - 160) / 6,285.08`		$160 + 4.29%
BBAG = (8,958.87 - 6,285.08 - 2,400) / (6,285.08 + 2,400) IWR CV `= (8,958.87 - 12,989) / 12,989` IWR DB `= (111,415 + 1,296 - 113,130) / 113,130`			3.2% -31.0% -0.4%

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 5