Intelligent Variable Annuity from TIAA-CREF Life Insurance Company

Templeton Developing Markets VIP Fund

Seeks long-term capital appreciation. The Portfolio normally invests at least 80% of its net assets in emerging market investments and normally invests primarily to predominantly in equity securities.

Unit value as of 07/29/2016 : $12.20
Total return year-to-date as of 07/29/2016 : 16.44%
Expense charge 1 : 1.96%
Inception date : 02/05/2008
Investment class : International
Performance Comparison
  Performance Data
as of 03/15/2016
Average Annual Total Returns
as of 02/29/2016
1 Year 3 Year 5 Year 10 Year Since Inception
Templeton Developing Markets VIP Fund $10.50 -1.69% 0.19% -27.41% -13.41% -7.69% -- -4.26%
MS Emerging Market Index (GROSS) 2 -- -1.58% -0.18% -- -- -- -- --

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 market risk, foreign securities risk, emerging market countries risk, focus risk, smaller and midsize companies risk, value style investing risk, and management risk.

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

Includes both separate account and fund level charges. The maximum total annual expense charge without the waiver is 2.16%. 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.

Templeton Developing Markets VIP Fund was formerly known as Templeton Developing Markets Securities Fund-Class 1
The Morgan Stanley Capital International (MSCI) Emerging Markets Index - GROSS is a float-adjusted market capitalization index that consists of indices in 26 emerging economies: Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Israel, Jordan, Korea, Malaysia, Mexico, Morocco, Pakistan, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand, Turkey and Venezuela. You cannot invest directly in this index.

TIAA-CREF Individual & Institutional Services, LLC, member FINRA, distributes 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