Intelligent Variable Annuity from TIAA-CREF Life Insurance Company

DFA VA US Targeted Value Portfolio

Seeks long-term capital appreciation. The VA U.S. Targeted Value Portfolio, using a market capitalization weighted approach, purchases a broad and diverse group of the readily marketable common stocks of U.S. small and mid cap companies that the Advisor determines to be value stocks.

Unit value as of 04/23/2014 : $39.65
Total return year-to-date as of 04/23/2014 : 2.00%
Expense charge 1 : 0.99%
Fund inception date : 05/01/2012
Investment class : U.S. Equity
Performance Comparison
  Performance Data
as of 04/23/2014
Average Annual Total Returns
as of 03/31/2014
  Unit
Values
Net
Change
YTD
Return
1 Year 3 Year 5 Year 10 Year Since Inception
DFA VA US Targeted Value Portfolio $39.65 0.00% 2.00% 29.06% -- -- -- 27.50%
Russell 2000® Value Index 2 -- -0.44% 0.64% -- -- -- -- --

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 and currencies risk, interest rate risk, credit risk, income risk, derivatives, and securities lending risk.

1.
Includes both separate account and fund level charges. The maximum total annual expense charge without the waiver is 1.19%. 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.
The Russell 2000® Index measures the performance of the 2,000 smallest companies in the Russell 3000® Index, which represents approximately 8% of the total market capitalization of the Russell 3000 Index. As of the latest reconstitution, the average market capitalization was approximately $530 million; the median market capitalization was approximately $410 million. The largest company in the index had an approximate market capitalization of $1.4 billion. The Russell 2000 Index and Russell 3000 Index are registered trademarks of the Frank Russell Company. Our accounts are not promoted or sponsored by or affiliated with Frank Russell Company. You cannot invest directly in this index.

TIAA-CREF Individual & Institutional Services, 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.


© 2013 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017