The Visible Policy, Year 6

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, 2002

Life Insurance Death Benefit as of May 10, 2002		Policy Cash Value as of May 10, 2002
Base Plan Death Benefit	$100,000.00	Base Plan Guaranteed Cash Value	$6,200.00
Death Benefit of Optional Paid up Life Insurance Rider (OPP)	10,711.00	Cash Value of Optional Paid up Life Insurance Rider (OPP)	4,079.71
Death Benefit of Paid up Additional Life Insurance provided by Dividends	4,945.00	Cash Value of Paid up Additional Life Insurance Provided by Dividends	1,699.81
TOTAL DEATH BENEFIT	$115,656.00	NET CASH VALUE	$11,979.52

Loan Summary from May 11, 2001 to May 10, 2002		Dividend Summary as of May 10, 2002
No activity during the period		The 2002 DIVIDEND credited to your policy The dividend of $437.33 provided $1,275 of increased Paid up Additional Life Insurance	$437.33

Summary of Our Disbursements from May 11, 2001 to May 10, 2002		Summary of Your Payments from May 11, 2001 to May 10, 2002
No activity during the period		No activity during the period

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

from Page 1 of Policy Summary

Dividends payable in 2002 reflect a reduction in the Company's dividend scale resulting from lower interest rates and investment returns in 2001. In addition. the annual interest rate credited to policies having Dividends on Deposit has also been reduced.

May 20, 2002

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

0000919

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, 2002. The remaining $636.00 was applied towards the purchase of paid-up additional insurance for an added death benefit amount of $1,620.00. This is in accordance with your policy's Option to Purchase Paid-Up Additional Insurance rider (OPP).

As of May 20, 2002, your policy, including riders, dividends and paid-up additional insurance, less any loans and loan interest due, has a net cash value of $14,361.23 and a net death benefit of $117,318*.

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

*Amount does not include any refund or renewal of premium (if applicable).

For policy service and product information, visit us at ==> www.newyorklife.com

`<=-` Activity, Year 6 to Year 7 `-=>`
9 May 2003	Payments	Increase in Value	Total to Date
Base Death Benefit	1,764 12,348		100,000
OPP Death Benefit	636 4,452	1,620	12,331
Dividend Death Benefit	437.33	1,275	4,945
Total Death Benefit	2,400 $16,800	2,895 $17,276	$117,276
Inflation-Adjusted Total Cost and Base Death Benefit	$18,432	30apr03 CPI=2.2%	$117,469
Guaranteed Cash Value ¹ `1800 / 100,000 = 1.8%g`		1,800.00¹	6,200.00
OPP Cash Value ² `121.89 / 10,711 = 1.14%g`	616.92 4,304.56	121.89² 392.07	4,696.63
Dividend Cash Value ³ `44.51 / 3,670 = 1.21%g`	437.33 1,608.14	44.51³ 91.67	1,699.81
Total Cash Value to Date	$5,912.70	$6,683.74	$12,596.44
potential partial refund of premium excluded from totals 10 May 2002			10may02 $11,979.52
div. return `= (437.33 - 160) / 8958.87`		$160 + 3.10%
BBAG = (11,979.52 - 8,958.87 - 2,400) / (8,958.87 + 2,400) IWR CV `= (11,979.52 - 15,635) / 15,635` IWR DB `= (114,381 + 1,275 - 114,940) / 114,940`			5.5% -23.4% 0.6%

Accesses since 18 May 2002
last modified 27 July 2004
© 2002 - 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 6