1 For its stability, claims-paying ability and overall financial strength, TIAA-CREF Life Insurance Company is a member of one of only three insurance groups in the United States to hold the highest rating available to U.S. insurers from three of the four leading independent insurance company rating agencies. TIAA-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 7/22), Fitch (AAA as of 10/22) and Standard & Poor’s (AA+ as of 9/22), and the second highest possible rating from Moody’s Investors Service (Aa1 asof 6/22). There is no guarantee that current ratings will be maintained. The financial strength ratings represent a company’s ability to meet policyholders’ obligations and claims and do not apply to variable annuities or any other product or service not fully backed by TIAA Life’s claims-paying ability. The ratings also do not apply to the safety or the performance of the variable accounts, which will fluctuate in value.
2 According to Morningstar, the average annual annuity expense charge is 1.26% for all non-group variable annuity policies in Morningstar Direct as of 4/25/22. ©2022 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
3 TIAA Life’s Intelligent Variable Annuity’s maximum annual annuity expense charge ranges from 0.45% to 0.70%. If the GMDB is selected, the maximum expense charge ranges from 0.55% to 0.80%. All expense information presented here is as of the prospectus dated May 1, 2022. Please see the prospectus for additional information.
4 This tool is designed to illustrate how our variable annuity's low expenses can impact account value over time. (The tool reflects all our product expenses except for a $25 annual maintenance fee if your account value is less than $25,000 and expenses of any investment portfolios which, if reflected, would result in lower returns. Our current product administrative fees are only 0.10%; we reserve the right to raise them to 0.30% upon notice.) This tool assumes a fixed interest rate that you select, up to a maximum of 8%. The information generated is hypothetical only, since our annuity's actual performance will fluctuate with the market and includes risk of loss, including principal. The tool assumes no withdrawals during the period illustrated. Withdrawals are subject to taxation as ordinary income and, if made before age 59 ½, a 10% tax penalty. This tool is not a promise, projection or estimate of future investment performance, nor a recommendation to buy or sell a particular annuity. Consider your personal situation and all benefits, limitations, charges and expenses, and tax impact in deciding to purchase a financial service or product. You may contact TIAA Life at 877-554-8282 for additional information about our annuities.
Please keep in mind that annuities are designed for retirement and other long-term goals. If you choose to in variable investment products, your money will be subject to the risks associated with investing in securities, including loss of principal. Annuities are long-term investment vehicles designed for retirement purposes or other long-term goals.
This material is for informational or educational purposes only and does not constitute investment advice under ERISA, a securities recommendation under federal securities laws, or an insurance product recommendation under state insurance laws or regulations. This tool is intended to provide you with information to help you make informed decisions. You should not view or construe the availability of this tool as a suggestion that you take or refrain from taking a particular course of action, as the advice of an impartial fiduciary, as an offer to sell or a solicitation to buy or hold any securities, as a recommendation of any securities transactions or investment strategy involving securities (including account recommendations), a recommendation to rollover or transfer assets to TIAA or a recommendation to purchase an insurance product. In making this tool and information available to you, TIAA assumes that you are capable of evaluating the information and exercising independent judgment. As such, you should consider your other assets, income and investments and you should not rely on the information as the primary basis for making investment or insurance product purchase or contribution decisions. The information that you may derive from this tool is for illustrative purposes only and is not individualized or based on your particular needs. This material does not take into account your specific objectives or circumstances, or suggest any specific course of action. Investment, insurance product purchase or contribution decisions should be made based on your own objectives and circumstances. The purpose of the tool is not to predict future returns, but to be used as education only. The assumptions underlying this tool are provided here and will change over time and from time to time. Contact your tax advisor regarding the tax implications. You should read all associated disclosures’.
Annuity contracts contain exclusions, limitations, reduction of benefits and may contain terms for keeping them in force. We can provide you with costs and complete details. Please note: lower expenses do not necessarily result in higher returns.
TIAA-CREF Individual & Institutional Services, LLC, member FINRA distributes securities products.
The Intelligent Variable Annuity, contract form series TCL-VA2, is issued by TIAA-CREF Life Insurance Company (TIAA Life), 730 Third Avenue, New York, NY 10017. TIAA Life is solely responsible for its own financial condition and contractual obligations.
THIS CALCULATOR IS NOT APPROVED FOR USE IN OREGON.
