Lifetime Variable Select from TIAA-CREF Life Insurance Company

Bond

The fund seeks a favorable long-term total return through income as is consistent with preserving capital, primarily from investment grade fixed-income securities.

Unit value as of 10/31/2014 : $37.5198
Total return year-to-date as of 10/31/2014 : 4.21%
Net invested assets as of 09/30/2014 : $33.09 million
Expense charge 1 : 0.95%
Inception date : 07/21/2003
Investment class : Fixed Income

As of 10/30/2014 : 30-day SEC Yield 2, 3 : 2.01%
Performance Comparison
  Performance Data
as of 10/31/2014
Average Annual Total Returns
as of 09/30/2014
  Unit
Values
Net
Change
YTD
Return
1 Year 3 Year 5 Year 10 Year Since Inception
Bond $37.5198 -0.08% 4.21% 3.77% 2.94% 3.93% 3.74% 3.77%
Barclays U.S. Aggregate Bond Index 4 -- -0.11% 5.12% 3.96% 2.43% 4.12% 4.62% 4.62%

The performance data quoted represents past performance, and is no guarantee of future results. Your returns and the principal value of your investment will fluctuate so that your accumulation units, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted above. For investments with exceptional performance, please note that performance fluctuates and currently may be lower than noted here.

The risks that the fund is subject to include market risk, prepayment risk, extension risk, company risk, income volatility risk, credit risk, call risk, fixed-income foreign investment risk, active management risk, market volatility, liquidity, and validation risk, mortgage roll risk, and downgrade risk.

For a detailed discussion of risk, please consult the prospectus.

1.
Includes both separate account and fund level charges. A portion of the separate account charges has been waived. The maximum total annual expense charge without the waiver is 1.33%. TIAA-CREF Life will provide at least three months notice before it raises these charges.
2.
The fund's 30-day SEC yield is based on yield to maturity of a fund's investments over a 30-day period and not on the dividends paid by the fund, which may differ.
3.
Yields shown here for the Money Market Account reflects annual expenses inclusive of the 0.60% charged by the separate account. The current yield more closely reflects the account's current earnings than does the total return.
4.
The Barclays U.S. Aggregate Bond Index measures the performance of the U.S. investment-grade, fixed-rate bond market, including government and credit securities, agency mortgage pass-through securities, asset-backed securities and commercial mortgage-backed securities. You cannot invest directly in this index.

© 2014 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017