Intelligent Variable Annuity from TIAA-CREF Life Insurance Company

TIAA-CREF Life Balanced

The Fund is a “fund of funds” that invests in shares of other TIAA-CREF Life Funds, in Institutional Class shares of funds of the TIAA-CREF Funds and potentially in other affiliated or unaffiliated investment pools or investment products (collectively, the “Underlying Funds”).  The Fund is designed for investors seeking long-term total return, consisting of capital appreciation and current income, through a relatively stable asset allocation strategy targeting a moderate risk-return profile.

Unit value as of 12/19/2014 : $26.22
Total return year-to-date as of 12/19/2014 : --
Expense charge 1 : 1.11%
Inception date : 02/14/2014
Investment class : Balanced
Performance Comparison
  Performance Data
as of 12/19/2014
Average Annual Total Returns
as of 11/30/2014
  Unit
Values
Net
Change
YTD
Return
1 Year 3 Year 5 Year 10 Year Since Inception 2
TIAA-CREF Life Balanced $26.22 + 0.19% -- -- -- -- -- 5.30%
TIAA-CREF Life Balanced Composite 3 -- + 0.33% -- -- -- -- -- 7.12%

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 this fund is subject to include asset allocation risk, underlying funds risk, active management risk, portfolio construction risk, and fund of funds 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 1.57%. Separate account charges reflect the highest possible mortality and expense risk charge although they may be lower. The unit value reflects the election of the Guaranteed Minimum Death Benefit. See the prospectus for additional information.
2.
For funds less than 1 year from inception, "since inception" will display cumulative returns. All other funds will display annualized returns.
3.
The TIAA-CREF Life Balanced Composite is comprised of Russell 3000 Index, MSCI EAFE Index and Barclays U.S. Aggregate Bond Index, each are weighted 40%, 10% and 50% respectively and reflect no deductions for fees, expenses or taxes.

TIAA-CREF Individual & Institutional Services, LLC, and Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, members FINRA and SIPC, distribute securities products. Intelligent Variable Annuity is issued by TIAA-CREF Life Insurance Company, 730 Third Avenue, New York, NY 10017.

Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.

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