The Visible Policy
Statement for Policy Year 7

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Statement:  Year 7

Here is my statement for the end of the seventh policy year.

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 12, 2003


Life Insurance Death Benefit
as of May 10, 2003

  
Policy Cash Value
as of May 10, 2003

Base Plan Death Benefit $100,000.00

Base Plan Guaranteed Cash Value
$8,000.00
Death Benefit of Optional Paid up Life
  Insurance Rider (OPP)
15,385.00
Cash Value of Optional Paid up Life
  Insurance Rider (OPP)
6,039.07
Death Benefit of Paid up Additional
  Life Insurance provided by Dividends
6,158.00
Cash Value of Paid up Additional Life
  Insurance Provided by Dividends
2,185.62
Premiums paid beyond May 10, 2003
1,764.00
Premiums paid beyond May 10, 2003
1,764.00

TOTAL DEATH BENEFIT


$123,307.00



NET CASH VALUE


$17,988.69



Loan Summary
from May 11, 2002  to May 12, 2003



Dividend Summary
as of May 10, 2003

No activity during the period






The 2003 DIVIDEND credited
  to your policy
    The dividend of $430.14 provided
      $1,213 of increased Paid up
      Additional Life Insurance

$430.14






Summary of Our Disbursements
from May 11, 2002  to May 12, 2003



Summary of Your Payments
from May 11, 2002  to May 12, 2003

No activity during the period


Policy Premium
$3,528.00



Payment(s) for Optional Paid up
  Insurance Rider (OPP) Premium
1,872.00




TOTAL PAYMENTS


$5,400.00

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 2003 reflect a reduction in the Company's dividend scale resulting from lower interest rates and investment returns experienced in 2002.


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 430.14 1,213 6,158
Total Death Benefit 2,400
$16,800
2,833
$18,489
$118,489
Inflation-Adjusted Total Cost
and Base Death Benefit

$18,433
30apr03
CPI=2.2%

$117,468
Guaranteed Cash Value
1800 / 100,000 = 1.8%g

1,800.00 8,000.00
OPP Cash Value
143.51 / 12,351 = 1.16%g
616.92
4,311.22
143.51
528.92 
4,840.14
Dividend Cash Value
44.51 / 3,670 = 1.21%g
430.14
2,038.28
55.67
147.34 
2,185.62
Total Cash Value to Date $6,439.50 $8,676.26 $15,025.76
early payment of $3,000 carried forward to next activity summary
10may02
$11,979.52
div. return = (430.14 - 160) / 11,979.52
$160 + 2.26%
BBAG = (15,025.76 - 11,979.52 - 2,400) / (11,979.52 + 2,400)
IWR CV = (15,026.76 - 18,433) / 18,433
IWR DB = (118,489 - 117,486) / 117,468
4.5%
-18.5%
0.9%


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Accesses since 18 May 2002
last modified 22 November 2010
2002 - 2010 by Rich Franzen

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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.
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